, 1923-10-20
R H R VICTORY
FRENCH
NEED THE CASH
Diplomatic Triumph Of
Recent Weeks Fails
In Dividends.
By j. W. T. MASON
Written for the United Pressl

NNritten ior n Dnited PreSs)
NEW YORK. Oct. 2O-United
Pressl.-Having rushed German re-
sistance in the Ruhr and completely
outflanked the diplomacy of Premier
Baldin. of Great Britain. the French
government will itself 20 down to de.
feat unless It can solve the pressing
problem of domestic finance. For
France has shown extraordinary dip
lomatic skill. but very poor financial
ability since the ending of the war.
The victories of the French dIpio-
mats over all opponents. have dis
tracted attention for the timo be.
ing. from the basic fact that out OF
AL the recent glory France hasn't
got any money. Great prestige has
been acquired by tho Poincare min
istry in the European c~hancenories
and for the time being France has
far more weight in tho European
councils than Great Britain.
France stu borrowing.
But France still is not paying her
way. She is living on borrowed
money n must continue 10 borrow
in order to live, unless an enormous
Increase in taxation is sanctioned
by the government. II taxes were
raised adequately. Premier Poincare
would fall from power over night.
This is the fundamental reality of
the situation. II has been lost sight
of amid the cheers OF the Ruhr VIC
tory. 1t canno remain hidden for
long.
During the Ruhr occupation, the
printing of French francs was rigid.
ly kept down to a minimum. Now,
however. there has begun a new de-
mand for paper money in Paris, and
a perilous period OF initiation is I'M
del consideration. That is the road
to financial anarchy. as Russia and
Germany nave so tragically lemon.
strated. How France will escape IL
Is now tho paramount problem of
the whole European situation.
There are always at work in
France three influences. First. the
influence of big business. which
would accept governmental financial
chaos II only the Ruhr could be torn
from Germany and could pass under
control of the French industrialists.
Second, the militaristic Influence,
which would be content to see
France founder in the financial
mire. il only Germany were broken
into separate parts and II France
could the Rhine. Third, the
peasant and middle class influence,
which isn't interested in Germany's
destruction. but which wants Ger
many to DO compelled TO pay to the
fun SO that the French people may
be saved from new taxes.
People Want Low Taxes
Tho Polncare ministry owes its
power to popular vote and there is
to be a general election in France
next year. The majority OF French
people r concerned neither with
Increasing the wealth OF big business
nor with the ambitions of the impe.
rialists. They want low taxes and
want to see the color OF German
money.
Thus far. Poincaro's policy has
been em%inently successful from the
big business and militaristic stand
points. 1t has been a failure from
the standpoint OF the peasants and
the middle classes, because Poincare
has not succeeded as n collector.
Continuation OF this policy will eth
er bankrupt France. or will compel
the French people TO bleed them.
selves financially rs they were bled
during tho period Of Bourbon abso-
lutism. How Poincare can find tho
way out is his own secret. But he
cannot hold the secret much donger.
He must soon put IL TO tho test OF
experience. or make way for another
premier with more financial cour-
age.