21 NOVEMBER 1925, Page 2

Unremunerative possessions will bear a tax calculated upon the insurance

policies that cover them. The plans for consolidating debt and creating a sinking fund are very elaborate and entail the appointment of a board of twenty-three deputies and senators to administer the fund. M. Painleve is even now facing the possibility of having to ask Parliament to raise the limit of advances from the Banque, and the prospects of balancing this year's budget are not very bright. The opening discussion in the Chamber turned on this difficulty, and M. Bonnet for the Government said that fresh taxation was con- templated to meet it. The most notable critics' on the first day seemed inclined to take refuge from the proposals in greater inflation.

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