CHANGES IN FRANCE.

New Zealand Herald, Volume LXI, Issue 18710, 16 May 1924, Page 9

CHANGES IN FRANCE.

■ PROBABLE MINISTERS

HERRIOT FOR PREMIER.

PRESIDENT TO CONSULT,

BRITISH LABOUR VIEWS.

EFFECT ON REPARATION. WASHINGTON OPTIMISTIC. By Telegraph—Press Association— Copyright (Received 7.35 p.m.) A.' and N.Z. LONDON. May 14. •The Paris correspondent of the Daily Chronicle states that M. Millerand, President of France, intends consulting with : M. Herriot next week, despite opposition from the Left wing of the Radical Socialists. .It is almost certain, says the correspondent, that M. Briand will become Minister for Foreign Affairs. Admiral Jaures, a brother of the late Socialist leader, is considered likely to be appointed Minister for the Navy, and M. Painleve Minister for War. The new Communist deputy for Basrhin has given notice that he intends to speak in German in the Chamber. He says his sole reason is that he does not know the French language. The official British Labour organ, .the Daily • Herald, in a striking leading- article, claims that M. Poincare's defeat .is a triumph for Mr. 'Ramsay Mac Donald's foreign policy. I*j compares the British Prime Minister's "frank courtesy, coupled with his clear and friendly statement of facts," with "Lord Curzon'3 policy, veiled opposition, and petty annoyance." The paper argues that Mr. Mac Donald probably did more to persuade, the French people to change their minds about M. Poincare than all the denunciations ot his political opponents. The article concludes: The chief obstacle to the reparation settlement is now out of the way, and there is every hope that Labour's foreign policy will be crowned with brilliant and enduring success. The Washington correspondent of the Times states that the opinion in the United' States capital is that the result of the French ' elections will have a more important bearing on the rehabilitation of Europe than any development in recent months. It is considered that while, home issues -defeated M. Poincare, there will yet be room for sufficient modification of the Ruhr policy to permit an AngloFrench entente, without which nothing is poSible. It was feared that the growth of Nationalist sentiment.in Germany, and the gains "it had made at the elections, would have produced a corresponding effect in France. Now this danger seems to be" removed, and the interest turns on the 'effect of the French elections on the German policy of development, which in the American view means substituting, moderation and sanity for competition and sabotage. •The key to the situation, however, is still recognised to be putting into operation the reparation experts' plan. If this cannot be done without 'American help, then equally it cannot be done. without joint determination on the part of France and Germany to give the plan an honest trial. Under M, Poincare it was feared that there would, be obstacles.

The tendency now is toward greater optimism than has been felt for many months. Correspondingly there is a greater belief that next year there may be international conferences out cf which European reconstruction may ultimately come.

FUETHEK RESULTS IN.

LEFT MAJORITY LARGER.

A : ' r POINCAIIIST'S DEFEAT.

Australian and N.Z. Cable Association. (Reed. 11.55 n.m.) PARIS. May 14. V Official checking has revealed a mistount in one Seine constituency. The result is that the Communist candidate has been returned instead of a Poincarist.

Seven out of the 10 colonial returns have now ; been received. The successful candidates comprise three Radical Socialists, two Republican Socialists, one Left Republican, and one non-party : candidate. These, results . slightly increase the majority of the Left bloc.

EFFECT ON EXCHANGE.

IMPROVEMENT IN -FRANC.

. Australian and N.Z. Cable Association. JEecd. 5.5 p.m.) LONDON. May 14.

The franc is quoted at 73.55 to the sterling, as compared with . 76.45 on Monday.

A message from New York states that despite the political upheaval in France, the franc exchanges have been showing remarkable stability, with a decided upward tendency. Sterling to-day reached 4.362, and the franc 5.9-10 cents. The latter being approximately the price which ruled before the French elections, it has somewhat disturbed the equanimity of the market.

Observers explain the paradox by pointing out that the spokesmen of the party which is succeeding M. Poincare are frankly pledging their adherence to the reparation experts' plan, whereas M. Poincare's espousal of the plan seemed half-hearted. Furthermore, they say that the Germans now apparently cherish fewer illusions regarding the possibility pf their escaping payments, while their hew leaders express eagerness to restore a semblance of financial order through a plan which, though perhaps imperfect, is nevertheless popular.