M. Reynaud to the Rescue In his eagerly awaited speech
to the Radical Socialist Congress, M. Daladier gave little or no indication of how France's problems are to be solved. His violent attack on the Communists hardly concealed the absence of any remedy for the weaknesses that have to be overcome ; a few days later it became clear that the Premier had in fact no plan at all to offer. The proposals of his Finance Minister, M. Marchandeau, appear to have included a capital levy and monetary restrictions that would be the first steps towards a closed economy ; they aroused strong opposition within the Cabinet and violent criticism from the Press of the Right, with the result that M. Marchandeau has resigned and M. Paul Reynaud has taken his place. His position is more than curious. A champion of devaluation, he becomes Minister of Finance at a moment when, on his own confession, further devaluation will solve no problems. A strong opponent of the foreign policy followed by M. Daladier and M. Bonnet, he strengthens his position in the Cabinet although they mean to push that policy further. A believer in forming a genuine democratic front, including the Paris working class, he is chosen to solve France's economic problems immediately after M. Daladier has declared open war on the Communists. Insisting on equal sacrifices for all, he displaces M. Marchandeau because of the burdens the latter was about to impose on the capitalists as well as the workers. Only time can show the result of so many contradictions ; but it is possible that M. Reynaud is the French Government's last attempt to follow democratic principles before taking an even more decisive swing to the Right.
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