25 DECEMBER 1926, Page 2

In the early hours of last Sunday the French Budget

was passed. The Senate insisted on a few modifications in favour of small farmers and sent the Bill back twice to the Chamber before an agreement was reached. The Budget debates have lasted this year only thirty-six days and the Paris correspondent of the Times says that this is a " record " for speed. M. Poineare is to be congratulated on a success which not long ago seemed impossible. But clouds are blowing up on the horizon and promise stormy weather for the next session. The truce which the parties observed for the purpose of passing the Budget will no longer be effective, and though the Budget is out of the way the economic prospects are not good.