1925-04-04 — Page 9

SATURDAY, APRIL 4, 1925,

FRANCE'S CRISIS.

CAPITAL LEVY ΤΟ BE IMPOSED.

MORE TROUBLE AHEAD.

Fresh Elections Predicted For Near Future.

France is imposing a capital levy of ten per cent, to tide over her financial troubles, but an early political crisis is predicted regult- ing in fresh elections.

HARD CHOICE.

(Reuter's "Service.)

accepted a compromise as regards the Vatican.

Ironical Laughter.

Paris, April 3. Paris, April 3. In the Chamber of Deputies, M. The fiscal

mensures recom-Herriot refused to make a state mended by M. Clementek includ-ment on M. Clementel's resigna- ing a fifty per cent, increase in tion. In the afternoon he obtain- the income tax were dropped by ed an adjournment sine die of an the Government which is interpellation which made the resolutely opposed to any increase question one of confidence, only in the note circulation.

the Communists opposing him.

FIGURES IN THE FRENCH CRISIS.

99

M. Painleve.

But in order to provide the Treasury with the necessary funda probably the Government will ask, authority from Parlin- ment to introduce a capital levy, the payments to be spread over ten years.

Ten Years To Pay.

Paris, April 3. According to "Le Temps" the proposed capital levy will be ten per cent. payable over ten years with facilities, for settlement In advance.

Impartial observers, however, anticipate an early political crisis relting in dissolation and fresh elections,

LAST BAD YEAR.

DUNLOP COMPANY'S.

PROSPECTS

RUBBER PROBLEMS."-

SIR ERIC GRDDES TO VISIT MALACCA.

THE CHINA MAIL.

"VIA NORTH POLE" FLIGHT FROM LONDON TO TOKYO.

FIFTY FLYING HOURS.

Norwegian Airman's Ambitious Scheme:

Will the North Pole ever be a stopping place in an air ferry between London and Tokyo? The easy confidence with which a Norwegian aviator-explorer discusses plans for a 5,000-mile flight would seem to indicate that he does not think it impossible,

San Francisco.

LONDON, April ̈3. Prosiding at the general meeting of Damios, Sir Eric Geddes announced the payment of a: dividend on three classes of pre-

Columbia, Northern Greenland. ference shares. The dividend was!

An aeroplane flight from Lon- It was calculated then that the being passed on ordinary shares don to Tokyo, via the North Pole, flight could be done in 15 hours. with a view to accumulating sub-, to be made this summer, is being And as the Larsen 'plane had stantial reserves.

planned by Haakon Hammer, fly-proved beforehand that it could He recorded enormous expansioning aide to Capain Amundsen on stay in the air for 32 hours, and in the home and export trade. his last polar expedition,

us it was to be handled by a highly

The company was not yet entirely on its feet but he hoped this was the last year shareholders: would be asked to make a sacrifice.

He anrouuced that he would Evisit Malacca this year to inquire into matters affecting the estates.

He said the result of the restriction of the rubber output was that the only countries where development could occur were those not under the British flag.

It seemed most unfair that they should be denied the right to bring. home rubber while they were obliged to buy largely from another nation.

©

*Restriction admittedly Was temporary but the whole question should be again Investigated unless the development of new areas was to pass entirely to the Dutch Indies and eleswhere.

PRICES

M. Clementel.. *

He foreshadowed a Bill embody- ing a reform to set the country's finances on their feet.

Tronical Opposition laughter greeted his opinion that this alone would ensure the revalorization of the frane and a fall in the cost of living.

The Chamber adjourned til Tuesday.

M. Herriot speaking at a Party meeting later said the principles governing the elaboration of the Government's schemes consisted principally of the sort of capital. levy which would more parti- cularly affect acquired wealth while avoiding interfering with wealth in the course of formation.

EARLIER CABLES,

Puris, April 3.

Post Declined. "Le Temps" confirms the report that M. Loucheur declinert the Finance Ministry before M. De Monzie accepted as he disagreed with the Government's plans for - The seriousness of the financial dealing with the financial crisis. crisis is indicated by a Cabinet New Man At The Helm. meeting which lasted" till five Paris, April 2. o'clock in the morning. -M. M. De Monzie, the new Finance Painleve and the President of the Minister is a barrister aged 5.Chamber were presents The re- He is a member of the Radical port that the Cabinet has resign- group in the Senate known as the ed is unfounded. Gauche Democratique,

Later, The Finance. Minister, M. Clementel, has resigned.

He was the principal initiator of the resumption of relations with Russia. He opposed the abolition of the Embassy at the Vatican and it is reported his acceptance of office was enndi- tional on the Government adopte ing a compromise whereby the Charge d'Affaires representing Alsace-Lorraine at the Vatican would take care of the interests of the rest of France.

ex-

CORN PANIC.

REACH LOWEST

LEVEL.

(Reuter's American Service.)

CHICAGO, April 3. The corn market was in a state Prices declined six to seven cents of semi demoralisation to-day. and reached the lowest level of the season. Urgent selling to stop losses showed that the market was not supported.

7

£100,000 FLOATING

H

DOCK.

(Reuter's Service.)

SYDNEY, April 3. The managers of Walsh Island Dockyard have submitted to the Navy Board proposals for the construction of a floating dock at Newcastle, New South Wales for commercial and naval purposes. The dock is estimated to cost over £100,000.

SCHELDT TREATY.

(Reuter's Service.)

THE HAGUE, April 3. The Belgian and Dutch naviga- tion agreement has been signed.

The seriousness of the issue is emphasised in the papers, which position of the whole government. dwell on the precariousness of the They point out that the financial situation remains to be resolved:

M. Herriot, is faced with fur- embarrassment on the

The resignation, which was accepted, followed M. Herriot's unexpected intervention in the Senate last evening to deny the Senate regarding the financial Government's reported intention difficulties, whereas M. Clementel to make a fresh note issue. M. recommended new taxation on Herriot had been urgently sum-alcohol and tobacco and additional moned from the Chamber to clear income tax instead of launching up misunderstandings among the vast levies, Senators arising from M. Stronger Position.

Clementel's speech dealing with This will strengthen the Gov- Minister M. Demonzie has been

Treasury inЯation: The ernment's position in the forth-nomined to succeed M. Clementel. coming debate on the Vatican' question in the Senate for if the

HUBBUB IN THE SENATE. Government had persisted in almost came to blows while M. ther

The fact that staid Senators demanding a rupture with the Herriot's replies to the bombard- Vatican issue, the vote on which Vatican it would probably have ment of questions were practical- comes up in a few days. been defeated. On the other handly inaudible above the hubbub, if the Government had yielded to

reflects the general excitement the Socialist demand for a capital culminating from the persistent levy and the Senate had thrown reports of an imminent capital cut the measure the Government levy and currency inflation. would have been faced with the dilemma of resigning or dissolving signation in the "Matin" reveals M. Clementel explaining his re- Parliament and appealing to the a disagreement a few days ago in country.

the Cabinet, which favoured the Terms Accepted,

briefest possible statement in the Paris, April 3. M. De Monzie has confirmed the (Continued at foot of next report that the Government has

Column.)

Viddin Bokelatar

RDUMANI

Palunka

Rehayo

ULGAR

Kamenopol

Sarra

Poromir

TROUBLE IN THE B eiled Bulgarians are reported to have crosses slavian border into Bulgaria end to have attac in the vicinity of Slivnitza, The distur to have been & part of the boksheKKMOV Othe internationAL, EMNONTES PAREN

Corabia

MILES

NORTH POLE,

POLAR AIR ROUTE~ German and Japanese interests are planning a direct airship line between Ber lin and Tokyo, via the North Pole: Dirigibles, twice the size of the Los Angeles, will be built, reducing to five days an ocean route of "five weeks.

THE INTERNATIONAL SYNDICATE.

Hammer has come here from Japan, where he has completed to London to buy and equip a his arrangements, and is en route special Dornier all-metal plane. He says that the fight is only 5,000 miles, and can be made in 50 Aying hours, with two stops for re-fuelling.

Án aeroplane to fly over the North Pole must be safe and solid.

ATHLETIC EQUIPMENT

skilled pilot, O: Oundal, of Nor- ❤es way, there were high hopes of success.

in August the expedition was But bad weaher rolled up and abandoned.

Previously "an attempt to fly. over the North Pole was made by a Swedish aeronaut, S. A. Andree, in a balloon. This was in 1897.

With two companions Andree ascended at 2.30 p.m., carrying

HOW IT CAN BE DONE.

PYROMAT ANDERWOSE & UNDCARDOR, IL TA

Captain Amundsen pointing out how it would be passible to fly across the North Pole.

FRANC FLUCTUATES VIOLENTLY.

The exchange market opened... unsettled owing to the financial situation in France, French made plans for such a flight, and p.m. the same day he dropped a In 1922 the explorer Amundsen five tons of supplies, and at 10 francs were heavily offered and francs were weaker in sympathy. entirely of metal, and particularly fluctuated violently, Belgian selected a Larsen 'plane, built buoy containing a message de-

scribing his progress. It had little effect on the stock stable.

That was the last that was exchange but French issues were

Heard of him. Years afterwards: marked down about half per cent. Barrow, in the far north of had been discovered in North His idea was to sail to Point there were rumours that a balloon j [Yesterday's cables stated that Alaska, and thence proceed in this America Siberia, but no

or

it appears that the Treasury machine across the Polar Basin, authentic news of the expedition does not know which way flying over the North Pole to Cape was ever received. -.

to turn to meet its liabilities,

which are aggravated by the fact

that many milliards of short term

loans are maturing in the summer and the bank note issue. no longer

AMERICA'S ENVOY.

suffices for commercial needs. NEW MINISTER TO PEKING.

The latest Bank of France state- ment show's that the bank notes issue is dangerously near the

(Reuter's American Service.)

Washington, April 3. President Coolidge has appoint-

JOINING FORCES.

(Reuter's Service.)

COTTON ANXIETY,

IMPORTANT MANCHES- TER CONFERENCE. /

(Reuter's Service.)

LONDON, April 3

legal limit of forty-one milliards. M. Clementel, in a speech in the Senate attributed the high water-ed Mr. McMurray, Assistant A private conference of the mark of the apte issue to the Secretary of State, successor to Mr.. hoarding of bank notes. In Schurman as Minister to Peking. order to cope with this, he fore shadowed a new, issue, only to be employed for discounting com mercial bills signed by the most solvent traders. He denied that this JsInflation He mentioned that Britain, France and Belgium have

BERLIN. April. 3. agreed to märket five hundred Centre

Joint conference of the million gold marks worth of Dawes Danserat Paries has nominated Democrat and Social scheme railway bonds in Octo- the former Chancellor Dr. Marx as ber. M. Herriot, who followed candidate for the Presidency, millions sterling and the time. M.Clementel, emphasised the Gov

ernment's opposition to foflation.

He said there was no fatendon to

Berlia, Aorti

employers of all branches of the cotton industry was held at Manchester to consider the serious position of the industry after three years trade depression. RA

The conference was the result of a suggestion of the speciál committee of the Federation of Master Cotton Spinners, E weavers had borne the heaviest pointed out that the spinners and share of the losses amongting, so

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