The French Chamber, when we go to press, is engaged
in a life and death debate. The " two-headed " Govern- ment of M. Briand and M. Caillaux must abide by the results. The signs are perhaps a little more hopeful than when we last wrote. The debate began on Tuesday, when M. Caillaux presented his proposals, and, of course, had much to say about the Experts' Report. In order to understand the situation it is necessary to turn to this Report. It shows how grossly Frenchmen have been betrayed by the appearances of prosperity created by reckless inflation. The experts demand (just as the Coal Commission did here) that their Report shall be accepted or rejected "as a whole." They say that confidence can be restored only by a " real " balancing of the Budget, by a " real " meeting of the obligations of the Treasury, by a final settlement of the external debts of France and by the establishment of a bank of issue with enough gold and sufficient foreign credits to guarantee its note circulation.
Previous page
