FRENCH CABINET

Wanganui Chronicle, Volume 80, Issue 96, 26 April 1938, Page 7

FRENCH CABINET

RUMOURS OF SPLIT FINANCIAL POLICY AGAIN WEAK TREND ON BOURSE [By Telegraph—P less Association—Copyright] LONDON, April 23. The Times' Paris correspondent : says: Rumours are current that a i split has occurred in M. Daladier’s • Cabinet on the question of financial • policy, though it is denied. Pessimism has replaced yesterday's and the week’s exhilaration. The Bourse, which always take a short view of weak control, has been forced to intervene to maintain the franc. Boldness and realism for which M. Reynaud (Minster of Justice) has long pleaded appears to have been abandoned in favour of a cautious hand-to-mouth policy. The Bank of France return shows a further increase of over £3,000,000 in the Treasury overdraft, which is now only £12,500,000 under the permissible limit. COLLAPSE OF FRANC SERIOUS VIEW TAKEN Received April 25, 7.30 p.m. LONDON, April 25. The Paris correspondent of the j Daily Telegraph says the collapse of the franc has baffled political and financial circles. It is the more serious in view of the fact that the Equalisation Fund bought £20,000,000 worth of other currencies to strengthen the franc earlier last week. M. Daladier, accordingly lias announced the speeding up of the financial measures, which Cabinet is passing to-day, and is concentrating on increased production.