FRANCE FACES 1939
[To the Editor of THE SPECTATOR] SIR, Will you allow me to comment briefly on Mr. Gillie's reply to my letter? M. Reynaud might succeed to induce people to repatriate their capital and invest the idle funds. but this will be due to his person being acceptable to an important section of the community, whereas, for instance, M. Auriol's was not. This would still be true even if his policy had a more expansionist bias. The preference in favour of M. Reynaud probably does not lack foundation. This, however, does not alter the fact that the policy of cut- ting down public works is not to be commended. Still less is it possible to accept Mr. Gillie's argument that because France is financially stronger than was Germany my argu- ment loses its validity; the fact that France might survive a bad policy, whereas Germany did not, is no justification for pursuing such a course.
As regards Alsace, Mr. Gillie se;..-7ns to support my con- tention. If the very acute unemployment situation there can be cured by public works, why should not these have a similar effect elsewhere? The international situation is doubt- less responsible for many of France's troubles; on the other hand, the stimulating effect of rearmament must not be over- looked. It would be much better if their place could be taken by other public works. There is, however, little chance of that happening.
Let us all hope that my view was too gloomy and will be
disproved by subsequent events. The situation, however, would evidently be a good deal more stable if we were en- titled to approve not only of M. Reynaud's person but also of his policy. Finance ministers in France have a short expec- tation of office, and if M. Reynaud will go and the economy part of his policy is continued, France might get the worst of both worlds.—Yours, &c., P. T. BAYER. Gonville and Caius College, Cambridge.
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