WITHOUT PRECEDENT

Southland Times, Issue 19720, 28 November 1925, Page 7

WITHOUT PRECEDENT

THE FRENCH CRISIS M. HERRIOT’S ATTEMPT FAILS CAPITAL LEVY BEING MOOTED. (By Telegraph.—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.) PARIS, November 26. M. Herriot has abandoned the attempt to form a Cabinet. A resolution passed at the Socialist party meeting declares readiness, if it takes office, to carry out its financial programme either . alone or in collaboration with parties of ! the Republican democracy, but it is impossible to reach agreement on the financial situation among all Parliamentary representatives of the Left, especially as regards the question of inflation. On the other hand the measure of authority and responsibility which the Socialists would enjoy in the i Herriot combination does not offer suffi- i ent scope for the exercise of the bold and decisive measures imperatively demanded; • therefore, the party is unable to co-operate with M. Herriot. The decisive measures mentioned refer to the Socialist plan for a capital levy. M. BRIAND WILL TRY. PARIS, November 25. M. Briand has agreed to form a. Cabinet. SOCIALISTS REFUSE TO PARTICL PATE. M. HERRIOTS MEASURES NOT ACCEPTABLE. PARIS, November 26. The Cabinet crisis is perhaps the most difficult in the history of the Third Republic. The attitude of the Socialists remains a stumbling block and a split in their ranks is now threatened on the question of joining the Cabinet, Finance dominates the | situation. M. Herriot conferred with the Socialist leaders and promised to do his [ utmost to avoid inflation, but the measures he indicated, including the stamping of notes for purposes of revenue instead of a fresh issue of note®, have not yet succeeded in overcoming their objections. The conversations with the Socialist leaders proved fruitless. They announced that they sympathised with M. Herriot’s attempt to form a Ministry, but declined to participate therein. HIS SEVENTH TIME. M. BRIAND BUSY. PARIS, November 26. (Received November 27, 9.35 pjn.) M. Briand, who has already seven times been Premier, was busy last night forming a Cabinet. It will exclude Socialists unless they wish to join up to make up the deficiency from the Centre. AN ANXIOUS DAY. SEVERAL MEMBERS CONSULTED. PARIS, November 26. (Received November 27, 5.5 p.m.) It is officially stated that M. Briand has agreed to form a cabinet following an anxious day during which M. Herriot failed and M. Tarrant, Minister for Colonies, declined M. Dumergue’s request on the ground of ill health. The President also consulted M. Cazols, President of the Radical Socialists. FALL OF THE FRANC. LONDON, November 26. (Received November 27,- 5.5 p.m.). The French franc was quoted in London at 126.93 to-day. GENERAL CABLES CAPABLANCA BEATEN. (By Telegraph—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.) MOSCOW, November 26. Two Russians, Verlingsky and Hjinzevesky, beat Capablanca, the international chess tournament champion, who played an unusual number of drawn games. His name does not appear among the leading six. OPENING OF FEDERAL PARLIAMENT. LONDON, November 26. The Colonial Office is unable to confirm the report that Prince Henry will open the Federal Parliament at Canberra. No communication whatever has been received from Australia. SOUTH AFRICAN LOAN. LONDON, November 26. The South African loan is fully subscribed. Dealings commenced at a one-eighth per cent, premium.