TRADE IN FRANCE.

Waikato Times, Volume 102, Issue 17006, 20 January 1927, Page 6

TRADE IN FRANCE.

FEARS FOR THE FUTURE. (From a Correspondent). PARIS, December 3. M. Poincare's statement to M. Chappedelaine, the rapporteur of the Budget, that he could see no sign as yet of an economic crisis has caused a great many people to raise their eyebrows. Manufacturers and business men have no doubt whatever that the crisis has already begun, and that it will grow increasingly severe as time goes on provided that the franc maintains its present lcveL The most lenient critics admit that the Prime Minister's words might be justified in their strictest sense, as it is perhaps going rather far to call the present slackening in business a crisis, but they do not disguise their fears for the future. M. Homier, who comments on M. Poincare's declaration in this sense in the Figaro, considers that the crisis is not likely to become acute until February or March, provided that the franc does not rise any higher. M. Jouhaux. the Secretary-General of the Confederation du Travail, or Federation of Trades Unions, considers that the situation is already serious. In a statement published to-day he says that unemployment is spreading both in Paris and in the Provinces. According to him, about 40 per cent of the workers in the clothing trade are affected. Other branches of industry which he mentions as discharging hands are boot and shoe factories, textile firms, and the furriers. He reckons that before long there will be 200,000 to 300,000 unemployed in France. As he remarks, the French people will suffer out of proportion to their numbers, as the numerous foreigners who are employed in France are protected by the contracts made under the labour treaties which have been concluded with their Governments. This applies to Italians, Poles, and Czecho-slovaks, who form three of the largest sections of foreign labour in France. The report that the Government was considering proposals to lease the match monopoly to private manufacturers brought a storm about M. Poincare's ears last night in the Chamber. No fewer than live deputies of the Left applied to interpellate the Go-, vernment on the subject. M. Poincare explained that the Government had not made up its mind, and that any step which was taken would come before the Chamber in the form of a Bill, and not until the views of the ! workpeople in the State factories had been consulted. This declaration satisfied the Socialists and SocialistRadicals for the- time being, but not the Communist Party. M. Marcel Cachin and M. Lafonte, who hovers on the edge of the Communist Party, kept up an attack on the Government for broaching the idea for about an hour, during which the normal business'of the Chamber was suspended. Ultimately the interpellations were postponed until after the Budget is; finished by a division in which the j Socialists and Communists voted solid. The opposition shown to the proposal will certainly cause it to be shelved for some time.