FRENCH POLITICS.

Manawatu Standard, Volume XLVI, Issue 106, 5 April 1926, Page 7

FRENCH POLITICS.

PROPOSED MONOPOLIES.

VITAL POLITICAL ISSUE

CONFLICT BETWEEN HOUSES.

PARIS, April 2. The Senate’s Finance Committee approved the Budget with the exception of the oil and sugar monopolies, which are being submitted to a special committee. Conflict is likely between the two houses, although it is probable that the Senate will yield ultimately in order to avoid a Ministerial crisis. The Senate will debate the Budget on April 12. . The proposed oil and sugar monopolies promise to become a serious, perhaps vital, political issue. The Senate’s finance committee took the proposal out of the Taxation Bill, recommending the creation of special Senate commissions to study the Chamber’s monoopyl projects therein. The Chamber passed the taxation because monopolies were included. The finance committee’s action seeks to avoid a direct clash between the two Houses, and may provide the Government with means of escape from immediate difficulty, but the Government may have to begin the whole taxation business over . again, since they must either maintain the monopolies or risk defeat in the' Chamber or ask the reluctant §snate to accept proposals in which it risks defeat. The Chamber of Deputies passed by 311 votes to 39 a bill increasing by 30 per cent, the Customs duties on all goods except tobacco, newsprint, corn, colfee, cocoa and component parts of agricultural machinery. An unfavourable impression was made on the stock market, the weekly balance-sheet of the Banque de France showing an increase of a milliard and a-quarter franc m Banque advances to the Treasury, and an increase of over (525 millions in fiduciary circulation.—Reuter.