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THE CHINA MAIL, JUNE 17, 1988.
in London, and by the more re- active cent demonstration of.. Anglo-French co-operation dur- ing the latest European"crisis. In consequence, the Daladier Ad- ministration has gained 'prestige domestic and strength in both and external spheres.
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Notice To Contributors.
in
The task of M. Daladier respect to France's financial and are economic problems, which now so deep-seated, will, how- ever, prove more difficult than Chamber gaining votes in the or renewed respect in the Chan- celleries of Europe. The Premier has inherited not only the long- standing difficulties due to budget deficits and fiscal disorder, but also the special legacies left by M. Blum's regime. The social the Editor, and be accompanied by legislation of the Popular Front, though much of it was long over- the Writer's Name and Address, due, was introduced too quickly, and the French economy suffered
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den surfeit of reforms. The forty- hour week, in particular, was ill- advised and untimely, disorgan- ising industry, reducing, produc- al- tion at a time when it had
and ready become inadequate, antagonising the employers. M. Daladier has now endeavoured to stimulate industry and restore the confidence of investors, first- ly, by boldly devaluing the franc, and, secondly, by decrees aiming at the extension of credit facilit- ies, development of the colonies and the tourist trade, and pro- vision of public works. Devalua- tion has already been successful M. DALADIER'S TASK |in bringing back large amounts of the expatriate capital needed With the attachment of the for economic revival, and the President's signature to a second modification, or partial abandon- ment, of the forty-hour week has On the batch of financial and economic reassured employers. decrees on Wednesday, including other hand, business has not wel-
Hong Kong, Friday, June 17, 1938.
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of
a
comed the uniform increase of
or-
eight per cent. in both direct and Air Force and longer hours
indirect taxation, essential as M. the increase of revenue is for work in aircraft factories, Daladier's plans for rehabilita- securing budget equilibrium, nor tion of the national economy are have the employers yet displayed any real willingness to make now taking definite shape. Upon their peace with labour on the the success or failure of M. Dala-basis of mutual concessions.
Whether M. Daladier can put dier's efforts may depend, not
France's financial. house in only the fate of France itself in der, where so many of his pre- a decisive hour, but also the decessors have failed, remains-to- maintenance of peace in Europe. be seen. His fundamental task, as as with President Roosevelt in It can hardly be regarded without significance that Ger- America, is to obtain reasonable co-operation between the forces man troops crossed the Austrian of labour and capital, and sacri- frontier at a moment when fices from both for the sake of France was in turmoil and leader- the national welfare. The pres sure of external, events, fortun less. A primary need for
ately, is now conducing to a more peaceful Europe is a strong, widespread sense of the necessity stable, and unified France, no of unity within the nation. The longer torn by political dissension invasion of Austria, the crisis over the Sudeten Germans, and and weakened by social unrest, the advance of Franco's German economic disorganisation, and and Italian allies to the Spanish financial uncertainty. The diffi-borders of France, have all in- fluenced French popular opinion, culties to be overcome
driving it to a keener apprecia- sound reconstruction are formid-tion of strategical realities, able, but it is reassuring that. M. awakening it to the danger of a Daladier has already won impor-divided France in the face of tant initial successes on both the single-minded dictatorships. It must be remembered, too, that, economic and political fronts. despite her troubles, France has a the Within a week of his assuming basic strength, founded on office, the engineering strike, richness of her soil, the vast ex- which threatened to hold up the tent of her financial resources, and the admirable balance of her entire rearmament programme, economy between rural and in- was peacefully settled. His de-dustrial development. A hardy mand for special plenary powers peasantry combines with a strong was approved in the Chamber of bourgeois class to give social stability. France's present trou- Deputies by the remarkable maj-bles have come, not from any ority of 508 votes to 12, and it weakness in her national resour later secured unanimous accord ces, but from their political mis- management. If Left and Right from a Senate which had over-
can work together for the nation, whelmingly refected very sim-M. Daladier, who has already ilar request when made by M. shown courage and dexterity, Blum. These auccesses were may provide the leadership re swiftly followed up by that of quired to restore the unity and the Anglo-French... conversations prosperity of France.
in any
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