26 DECEMBER 1925, Page 1

France is slightly less despondent over her finances than - she

was when we wrote last week, though nothing has happened to justify a substantial change of feeling. M. Doumcr, the new Minister of Finance, is proceeding cautiously and has already avoided such a rebuff as M. Loueheur received when the Finance Committee of the Chamber refused even to discuss his proposals. There are only two new facts of importance to record. The first is the remarkable and unexpected offer made by the textile industry in the north, and the second is M. Doumer's announcement that he really means to collect the income tax.