FRENCH POLITICS.
TAXATION OF RENTES,
M. CAILLAUX'S POSITION.
Press Association—By Telegraph-Copyright.
PARIS, December 3.
The Government urged that Rentes had fallen to £86, that tho now issue was unlikely to be above £83, and that if direct taxation were imposed the price would bo farther depreciated.
M. Caillaux pointed out that a tenth of French wealth was invested in Rentes, and unless tho Chamber reserved the liberty to tax Rentes it would be impossible to impose an income tax. Even if the promise of exemption resulted in a profit of 4 per cent, on the present loan, it would eventually mean a loss of £40,000,000 to the detriment of the peasant.
The majority against the Government wag composed of elements which are unlikely to collaborate for long. The dislike to triennial service and the objections to the Proportional Representation Bill are the chief factors in the Government's defeat. M. Caillaux recently advocated a return to the two years' service, which makes his chance of the Premiership apparently impossible.
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Otago Daily Times, Issue 15939, 5 December 1913, Page 5
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168FRENCH POLITICS. Otago Daily Times, Issue 15939, 5 December 1913, Page 5
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