The Holly chieftain., 1924-01-24

Decline Of the franc to a record low
point moved the French government
TO determination to effect great
| economies, including the abandonment
| of big public works for time and the
| cutting of the government pay roll.
and to increase taxation 20 per cent.
Exchange rates reacted to this, the
| franc recovering sharply.
| KING GEORGE formally opened the
~ British parliament Tuesday, and
the Tory government in the speech
from the throne made last desper-
ate effort to rally the Liberals to Its
| support and keep the Laborites out Of
power. The speech was long and dull
and contained an extensive program
of minor reform. including various
schemes for the relief Of the worker
and the farmer. Ramsay Macdonald,
Labor leader, announced that at the
earliest possible moment lie would
move as follows:
"It is, therefore, our duty to submit
to your majesty that your majesty's
present advisers have not the conf
dence of the house"
On Thursday II. H. Asquith, veteran
leader of the Liberals, put an end
to all the hopes of the Tories by Sec
onding the Labor motion and .announc-
ing that when 1t was called up the
following Monday he would vote for
it and advise all his friends to do the
same. None who had not read his
mail for the last week, he said. knew
the strong demand for him to become
the savior of the country. Becoming
the savior of the country meant doing
some underhand deal to keep out OF
office the party which by all constitu-
tional rules was entitled to 1t.
Mr.. Macdonald. in speech to the
commons, denied that the Labor party
favored any revolutionary plans. Sc
cret or otherwise
EXICO'S rebellion seems to be
1NA moving toward its climax, and
there is not reason to believe that the
climax will be the defeat of the revo-
lutionists. Just now the activities of
the armies are centered mainly about
Tampico, and the United States gov
ernment has found 1t necessary to
warn the rebels that 1t will not coun-
tenance a blockade closing that port
to American commerce. The cruiser
Tacoma was ordered to Vera Cruz,
but ran aground 16 miles from Vera
Cruz.
TOKYO was terrified and consider
L ably damaged by an earthquake
that was the severest since the great
temblor of last September. About
thirty persons were killed and many
buildings in the capital, In Yokohama
and other places were wrecked. Next
day severe shocks were reported from
Sendai, Japan; Bogota, Colombia, and
Bombay, India.
VENIZELOS found that nfter all 1t
was necessary for him to become
premier of Greece, SO he assumed that
post and formed a cabinet with Rous-
sos as foreign minister. Renewal Of
British friendship and aid is now in
dicated and 1t is predicted Greece will
Join the English-Italian-Span COM
bination in the Mediterranean to re-
strain French ambitions to dominate
Europe. Greece may need English help
to keep Saloniki from Serbia. Veni-
zelos is openly favoring the establish
ment of republic and probably will
be Its first president. He, however,
deprecates the expulsion of the royal
family and has insisted that the Or
ganization of revolutionary army Off
GERS be dissolved before the plebisclte
Is held.
FARMERS and manufacturers of the
Middle West, In convention in Chi
cago, adopted a series of resolutions
for presentation to President Coolidge
and congress. They oppose govern
ment price fixing; approve of COOP
eratlve marketing of farm products;
commend the Departments of Agrcul-
| ture and Commerce for their work in
| the foreign marketing field; favor a
reforestation movement; ask material
| reduction of all taxes; urge that immi-
grants be limited by quality and
economic needs; oppose government
| ownership or operation of railroads.
Mines public utilities. farms or fac
tories; oppose attempts to deprive the
Supreme court of its primary function
of determining the validity of congress
sional action, and went Muscle Shoals
developed primarily for the produc-
! ton of fertilizer.