“TURNING POINT” FOR FRANCE

Southland Times, Issue 23651, 28 October 1938, Page 7

“TURNING POINT” FOR FRANCE

Directed Economy

Foreseen

EFFORT TO KEEP PACE WITH DICTATORS

(United Press Assn.—Telegraph Copyright) (Received October 27, 6.30 p.m.) MARSEILLES, October 26.

“Directed economy” for France, to enable her to compete with the totalitarian States, was foreseen by the Minister of Commerce (M. Gentin) in a speech before the opening of the Radical-Socialist Congress tomorrow. “I am convinced that the country has.reached a turning point in her history,” said M. Gentin. “I consider that a regime of directed economy, possibly under which capital and 'labour will remain under private control, will be possible. But if private initiative is insufficient or too many private undertakings threaten productive anarchy, the State must step in.” The Minister predicted realization of this policy by stages. It was for the State to discover new economic activities and outlets for exports, and to encourage development by subsidies. Much of this could be achieved within the State’s present administrative framework.

The eagerly-awaited speech by the Prime Minister (M. Edouard Daladier) will probably give the first clue to the decree laws. He is expected to announce taxation, pensions adjustments, higher prices for tobacco (which is a State monopoly) and the extension of the 45-hour week to armament factories.