FRENCH FINANCE

Otago Daily Times, Issue 19500, 8 June 1925, Page 7

FRENCH FINANCE

DIFFICULTIES 'os' RESTORATION. M. CAILLAUX ENCOUNTERS TROUBLE. “ \ Press Association —By Telegraph—Copyright. ' ■ PARIS, June 5. The Dailv Express’s . Paris correspondent states" that the fall of the franc below 100 has set the Government ship rocking, and it may capsize. Differences between M. Loucheur and M. Caillaux, and M. Caillaux and the Socialists have developed, and M. Caillaux threatened to resign this morning. He has failed signally to obtain the support of his colleagues for the whole of his financial programme. M. Caillaux knows that the country is judging him on the fall of the franc, which is now below 100. The man in the street is shouting his failure. M. Loucheur and his 40 followers threaten that they will not vote on the Budget until they know M. Caillaux’s scheme lor restoring French finances. The Daily Telegraph’s Paris correspondent says that the Socialists are dead against M. Caillaux’s projects, for establishing Budgetary equilibrium, and they also object to the fighting in Morocco.— A. and N.Z. Cable. A GOVERNMENT CRISIS. M. BEIAND MAY SUCCEED M. PAINLEVE. l9 PAMS. June 7. (Received June 7, at 11.5 p.m.) It is believed that the Painlevc Government is tottering, and that M. Briand is likely to succeed. —A. and N.Z. Cable. NEW CABINET’S POLICY. ATTITUDE OF OPPOSITION. LONDON, May 27. ' “Wo will support the Government when it acts in the national interest, but will oppose it -whenever it follows M. Hernot’s example and pursues a purely party policy.” The Paris correspondent of The Times says that this is how M. Maginot, M. Poincare’s War Minister, and one of the leaders of the Chamber of Deputies’ Opposition, defines the latter’s attitude toward the Government. It is sift: that some urged that the Opposition should not support the Government at all, while others wanted them to support it whenever there was danger of a defeat, in order to prevent another Herriot Government reappearing. “We had decided to do neither the one nor the other,” said M. Maginot, pointing out that at present the Government was practically split into two camps, each trying to take the lead. _ “This,” he said, “leaves us in the position of holding the balance, and it would be foolish not to take advantage of it.”