HARD TO CHECK.

Poverty Bay Herald, Volume LII, Issue 17088, 17 July 1926, Page 15

HARD TO CHECK.

FALL OF THE FRANC

FRENCH TREASURY PRACTICALLY

EMPTA

(Auslralian and N.Z. Cable Association.) (Received Only 17, 2.15 p.m.) ' PARIS, duly 16,

The fall of the franc has attained n'n impetus which it is increasingly hard to check. This can only be explained b\ nervousness due to the continue*] uncertainty regarding the political and finan cial ' situation. Parliament and tin country is still in the dark as regards the details' of M. < ailhmx's linaneial proThe Treasury is practically empty, while the I iovcrumenl exists on sufferance of 22 votes, whose renewal depends on the adoption of its' concrete pro-

gramme. Furthermore, satisfaction ol the Anglo-French debt agreement lias bone mitigated bv doubts as to whether Washington will'follow London's lead in the matter of a safeguard chaise. The Chamber's Finance Commiteeo, by 14 vote.-, to 13. rejected the first clause of the Government's financial proposals. wherebv linaneial measures be taken by decree."

LONDON. July .16

The French franc in London opened at 201 A to the £. later was 2§V 2 and closed at 201=. The P.elgian franc closed at 205^.

|.\\TE HANGS IN P.M.-A NCI

CAILLACX'S t ABINE3

NEW FINANCE PROPOSALS

(Renter's Telegram.) (Received! Julv 17. 3.30 p.m.) PARTS. July 16

M. Caill.ittx's Bill consists of two clauses, the first authorising decrees and the second providing that these decree* be submitted to Parliament at the opening session in 1327. Aleanwhile Hie measures are prescribed as being effective. Thus the Finance Committee's rejection of the iirsi knocks the fooWjrn out of the whole Bill. The fate of the Government hangs on the general financial debate, beginning in the Chamber to-morrow,/ when the Government will submit the Bill.