The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-07-18
LASTEYRIE WOULD
CUT NATIONS COSTS
Possible New French Finance
Minister Has Experience in
Budget Building.
is LIKED BY BIG FINANCE
Need Is Seen for ReOrganiza-
ton Of Government Bureaus
to Get Economy.
is LIKED BY BIG FINANCE

Special Cable to THE New York HERALD.
Copyright, 1891. bv TIE NEW YORK HERALD.
New York Hernld Bureau.
Paris, July II.
With the French budget for next
year showing an initial deficit of $780,
600, 600 francs, financial experts and adj
visers are looking on all sides for a solu-
ton. hoping to find a way out of the diff
ficulties before the beginning Of October.
so the debate on the budget in the Cham
Der can start as soon as that body has
reconvened.
Much depends upon whether Paul
Doumer, French Finance Minister. sue
ceeds in retaining his Office. Rumors
are increasing that he will be the first
of the BRAND cabinet to leave. prob
ably to be succeeded by NJ. de Lasteyrie.
whose work as a budget reporter in the
Chamber has won the admiration and
confidence of big banking interests
In this connection considerable in
terest attaches to the public statement
just made by NJ. de Lasteyrie as to what
he thinks is necessary to bring about
Frances financial recovery, as his plan
not only gives an idea as to how the
Chamber of Deputies will take the
budget, but also defines the main drec-
tives OF his policy should he become
the head of the Ministry of Finance
NJ. de Lasteyrie stands for the whole
sale reorganization Of public depart
ments. not only from the standpoint of
economy. but also to get greater efiici-
ency. declaring that 1t is unnecessary
to tax the public heavier than 1t is now
taxed, If worka BILE system of tax col
lections is devised promptly. His first
cut would be in the ranks of function
TIT tv.ia nh
number $4,000 more than before the
war and are costing the Government
g. 500, 900. 900 francs more annually.
BY cutting deep into this phase of the
budget and reducing military expense
generally, NJ. de Lasteyrie says 1t Is pos
sible to- economic as much as 1000. 0OO.-
900 francs. In order to meet the de-
mands Of the devastated regions NJ. de
Lasteyrie would not permit the fotation
of any new national loans except for
PREPARATION purposes.
Financial writer's during the hot sum-
r,er ere raking IN I'll the old financial
theories some insisting that the Cham
Der must authorize the Ministry of FL
nance to impose q tax on capital. others
holding to the lottery idea. which they
say would yield enough In four years to
meet all of Frances outstanding debts
But NJ de Lasteyrie will have none OF
these freak solutions. and is likely to
carry the Chamber with him when II
comes to n test of force.
The holidays interfered with the OPP
erations on the Bourse, sending the more
| important quotations down several
points, but a recovery is expected this
week following the late publication o.
the Bank of France statement showing
healthy reduction in note circulation
nv more than Ill 100000 francs. while
the state repaid again into the bank
Golfers 100000. 600 francs.
| An exceptionally strong gold move.
ment in the early part OF the week
brought in more than 100000 francs