CRITICAL HOUR FOR FRANCE

New Zealand Herald, Volume LXIII, Issue 19291, 1 April 1926, Page 9

CRITICAL HOUR FOR FRANCE

EXCHANGE ON LONDON.

FINANCE BILL DEBATE. COUNTRY'S FATE AT STAKE. URGENT NEED OF LARGE SUM. GOVERNMENT STILL OPPOSED. By Telegraph—Press Renter. PARIS. March 30. There was mouse like quietude in the Chamber of Deputies during the momentous financial debate which is to decide the fate not only of the Government, but possibly also of France. The House was crowded. The silence lasted while the reporter of th,. Financti Committee outlined the position. He explained that the problem was to find about 2,460,000,000 francs. The Minister of Finance, M. Perot pleaded the urgency of financial reconstruction, including a tax on business turnovers. The tranquillity of the Chamber was shattered by the entry of the two newlyelected Paris Communists. They were greeted by all tho Communists in the House rising and singing tho " Internationale " to the accompaniment of indignant, shouts from tho Bight. The president of the Chamber, M. Herriot. then suspended the sitting. After an interval of five minutes an attempt was made to rer.umo the debate. A number of suggested amendments to the poll tax were rejected and shelved. Finally the debate was adjourned until to-morrow. The Finance Committee in the meanwhile ill resume its arduous efforts. M. Pei i has insisted that the Finance Bill must bo voted upon to-morrow.

FRANC RECOVERS SLIGHTLY. SLUMP IN BELGIAN CURRENCY. (Received 5.5 p.m.) Eeuter. LONDON. March 30. The rate of exchange for the French franc on London was steadier to-day. The closing quotation was 141j to the pound compared with 142.12 yesterday. This slight recovery was due to the progress being made in Paris with the new taxation proposals of the Finance Minister, M. Peret.

The Belgian franc, however, again slumped on heavy selling. Quotations opened at 126 i to the pound and closed at 131j, compared with 125,12 yesterday.