FRENCH FINANCE

Wanganui Chronicle, Volume LXXXIII, Issue 19512, 15 February 1926, Page 7

FRENCH FINANCE

THE FLUCTUATING FRANC BALANCING THE BUDGET. GENERAL FINANCIAL REFORM. PARIS, Feb. 12. M. Briand has announced that he intends to split the Finance Bill into two parts. The first part, providing for the funds needed immediately to balance the Budget, should be voted by the Chamber by February 15. and passed by both Houses by March 1. and the second part, comprising measures for the amortisation of the debt and geenral financial reform, would be taken afterwards. M. Briand declared: “They say • abroad that we arc inacpablc of a I fiscal effort. Let us at once show our I financial determination and capacity.” | The franc is stronger to-day owing to the publication of the weekly balance- i . sheet by the Bank of France, showing | ' that the Treasury has reimbursed the i (bank 450.000.000 francs, thus enabling! a reduction of the fiduciary issue by : nearly 400.000.000 francs. BRIAND'S VICTORY MOTION OF CONFIDENCE. GOVERNMENT’S BUDGET PROPOSALS. PARIS, Feb. 12. Tn the Chamber M. Cazals, on behalf of the Radical Socialists, stated that the party had decided to separate from the Socialists with a view to arriving at practical financial results in the interests of the country.

For the first time since the opening nf the financial debate in the Chamber, M. Briand made a motion to shelve the Socialist proposal in the Finance Committee’s Bill, a question of confidence, and obtained a vote by 326 to 183. The result of the vote shows a split in the Cartel, some Radicals voting with the Government and some against them. The Socialists’ proposal was that the State be made co-heir with other legatees, the State’s share to vary according to the degree of relationship of the heirs.

M. Briand, in supporting the shelving motion, said that they had reached the extreme limit of discussion and the necessary funds to balance the Budget must be voted without delay in order that both Chambers might pass them bv February 28.