STRICT ECONOMY
NEW POLICY FOR FRANCE
FRESH CRISIS LOOMING
(United Press Association—By Electric Telegraph.—Copyright.) Received July 19, 12.55 pm. LONDON, July 18. The Daily Mail’s Paris correspondent says: “The alarm that the franc may further collapse when the Exchanges reopen on Monday caused M. Bonnot (Finance Minister) to intervene this afternoon. After consultation with experts he announced that the Government proposed a policy of strict economy to remove the financial difficulties, as the country was not able to hear further taxation. “M. Bonnet added that Cabinet will consider the new proposals on July 20. “l't is believed that the Government intends to adopt a more flexible application of the forty-hour week for public services, suspend portion of the Public Works programme, close those railway services which are not economical, discharge civil servants, reduce administration costs and introduce conversion loans. “It is expected that such plans will arouse the resentment of extremists, who regard them as an abandonment of the Popular Front schemes. Meanwhile, the,unrest is increasing owing to wages not being advanced sufficiently to meet the higher cost of living.”
Earlier related cables appear on page 7.
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Bibliographic details
Manawatu Standard, Volume LVII, Issue 195, 19 July 1937, Page 8
Word Count
187STRICT ECONOMY Manawatu Standard, Volume LVII, Issue 195, 19 July 1937, Page 8
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