DOUBLE CRISIS

Wanganui Chronicle, Volume LXXXII, Issue 19441, 29 October 1925, Page 7

DOUBLE CRISIS

FRANCE’S MISFORTUNES WARS AND FINANCIAL STRESS RESIGNATION OF GOVERNMENT Trance is in the throes of a double crisis. Financial stress has brought about the resignation of the Government, and foreign wars have exhausted the nation’s patience. The Damascus disclosures have added fuel to the fire. INEVITABLE EVENT THE CABINET RESIGNS. By —Per Press Assn.'—Copjright. Received October 28. 10.30 p.m. PARIS. Oct. 27. The French cabinet has resigned. CAILLAUX HOSTILE TO PAINLEVE INTERESTING REVELATIONS EXPECTED. Received October 28, 9.55 p.m. LONDON. Oct. 28. Al. Caillaux is making no secret of bi* hostility towards M. Painleve. It is expected that underground warfare between M. Caillaux and a prominent French banker and others will now come to the surface. It is even asserted that M. Caillaux told Af. Painleve that he would wreck any new Ministry he succeeded in creating. It is stated that part of M. Caillaux’s programme was an inheritance tax. averaging thirty per cent, of the value of estates tailing to heirs and successors, but he was willing to give testators the right to pay upon capital during their lifetime and transfer their estates to heirs at death without further diminution. The ‘‘Times’’ says: “It was perhaps faulty tactics on M. Caillaux’s part continually to postpone announcement of his complete plans for financial reform. ”

TROUBLES MULTIPLIED COSTLY WARS TRY NATION’S PATIENCE. DAMASCUS DISCLOSURES ADD FUEL TO FIRE. NEXT PREMIER’S UNENVIABLE TASK. Received October 28. 8.55 p.m. LONDON. Oct. 28. France is now in the throes of a double crisis, arising out of the political situation and the Damascus disclosures. The latter produced a most painful effect here, as well as in France. The “Morning Post” affirms that not only have financial difficulties embarrassed the PainlVve regime, but the long and costly war in Morocco has tried the patience of the French people, and the situation in Syria has aroused wsnicion and discontent: “Morning Post.” in an editorial. predicts that events in Damascus will have most serious results. The '‘Daily Herald” says: “Socialists in the Senate and the Chamber are sure to insist on the dismissal of the guilty persons, no matter how highly placed.” It is generally understood that President Doumergue has commissioned M. Painleve to form a new Government, in which it is believed M. Painleve will become Finance Minister himself.

The opinion has lately been stressed in Paris that whoever the new Prime Minister of France is, he must he prepared to assume the responsibility of straightening out financial difficulties. The prospect is most uncertain in the event of M. Painleve not succeeding. M. Herriot and M. Briand are both reluctant to quit their present posts. It is considered most likely that the reassembly of the Senate and the Chamber on Thursday will be postponed. HERRIOT REFUSES PREMIERSHIP A CONCLUSIVE ARGUMENT. Received October 28. 10.30 p.m. PARIS, Oct. 27. M. Painleve. during the morning, had a lengthy conference with M. Herriot. who. as President of the Chamber and Cabinet Council, expressed the opinion that the Ministry’s collective resignation would be the best course. M. Painleve thereupon suggested that M. Herriot take the Premiership. The latter replied: “My Ministry fell owing to currency inflation, which was then absolutely necessary. The position now is the same, and the now Ministry’s first task must be to ask Parliament to sanction inflation. Therefore I canBOt consider the Premiership.”