DRASTIC MEASURES IN FRANCE
DANGER OF COLLAPSE OF FRANC
SWEEPING REDUCTION IN EXPENDITURE United Press Association—By Electric Telegraph—Copyright LONDON, July 18. Tlie Paris correspondent of "The Dally Mail” says: Alarm that the franc may further collapse when the exchanges reopen on Monday, caused M. Bonnet (Minister of Finance) to intervene this afternoon. After consultation with experts, he announced that the Government proposed a policy of strict economy to remove the financial difficulties, as the country was not able to bear further taxation. M. Bonnet added that the Cabinet will consider the new proposals on July 20.
It is believed that the Government intends to adopt a more flexible application of the 40-hour week for the public services, suspend a portion of the Public Works programme, close railway services which are not economical, discharge civil servants, reduce administration costs, and introduce conversion loans.
It is expected that such plans will arouse the resentment of extremists, who regard them as the abandonment of the Popular Front scheme.
Meanwhile unrest is increasing owing to wages not being advanced sufficiently to meet the higher cost of living.
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Bibliographic details
Timaru Herald, Volume CXLIII, Issue 20784, 20 July 1937, Page 7
Word Count
183DRASTIC MEASURES IN FRANCE Timaru Herald, Volume CXLIII, Issue 20784, 20 July 1937, Page 7
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