THE FRANC'S REVIVAL

Wanganui Chronicle, Volume LXXXI, Issue 18965, 17 March 1924, Page 5

THE FRANC'S REVIVAL

POINCARE GOVERNMENT’S SUCCESS. FIRST HURDLE NEGOTIATED. Beceived March 16, 8.40 p.m. PARIS, March 15. The Poincare Government has cleared the first and most difficult hurdle in connection with the Finance Bill, the Senate having rejected its own finance committee’s amendment ,to article one by 154 to 141 and subsequently adopted this article by 161 to 128. The article temporarily delegates parliamentary authority to Government, more particularly regarding the issue of decrees to carry out reductions in expenditure. The president of the Finance Committee, before voting, suggested a compromise in order that M. Poincare should retain office, but the Premier rejected a compromise and insisted on the adoption of the Government’s text ns a vote of confidence. BITTER DISAPPOINTMENT IN GERMANY. GERMAN-AMERICAN BANKS BADLY HIT. Received March 16, 8.40 p.m. PARIS, March 15. The Petit Parisian’s Berlin correspondent says the revival of the franc is causing bitter disappointment in Germany. • It is stated that a consortium of German-American banks, which has systematically attacked the franc for over three months, lost within the last two days ten million gold marks in consequence of the revival of the franc. CRUCIAL ARTICLE ADOPTED. (Reuter). Received March 16, 8.40 p.m. PARIS, March 15. The Senate adopted the crucial article in M. Poincare’s financial proposals by 154 to 141 votes.