FRENCH BUDGET CRISIS.

Timaru Herald, Volume CXXIII, 14 December 1925, Page 9

FRENCH BUDGET CRISIS.

Financial Proposals Outlined. INFLUENCE OF UNPAID DEBTS. By Cable —Press Association —Copyright. Australian anfl N.Z. Cable Association PARIS, December 12. Before the Finance Committee of the Chamber of Deputies, M. Loucheur explained liis financial plans. He estimated the total yield of the contemplated taxes would bo eight milliards of francs, and said this was the maximum effort necessary to ensure the balancing of the budget, and normal functioning of the sinking fund in its early stages. The Minister expressed opinion that no settlement of the problem of the stabilisation of tlio franc could bo contemplated, so long as the question of inter-allied debts remained in suspense. It was necessary, in the first place, to settle the French debt to the United States.

FRANC SLUMPS AGAIN. NEW LOW RECORD. uy Cable—-Press Association —Copyright. Reuter’s Telegrams. (Received December 13, 5.5 p.m.) LONDON, December 12. The French franc closed at a new low record of 131.45 to the £ sterling. The fall is mainly attributed to further inflation disclosed in yesterday’s return of the Banque of France.

EFFECT OF GOVERNMENT'S PROPOSALS. ANOTHER DROP IN FRANC. By Cable—Press Association —Copyright Reuter’s Telegrams. (Received December 13, 5.5 p.m.) LONDON, December 12. In consequence of fears of fresh political trouble as the result of Mi Louclieur’s taxation proposals, the French franc in London fell to 132.55 to the £.