Evening star., 1925-02-16
MUST KEEP CREDIT,
.HERR|OT'S WARNING
Prevention of Initiation, Re-
qardIess of Cost, Vital,
He Tells Deputies.
BY the Associated Press.

BY the Associated Press.
PARIS, February 1S.-Premier Her
riot in explaining the governments
financial policy to the Chamber Of
Deputies this afternoon, declared en-
phatically against imitation.
Cost what it may" he said, France
must in the solution Of this problem
maintain her reputation for financial
probity. Cost what it may. she must re-
sist all temptation to abandon the rolicy
OF avoiding imitation"
Il am not here to talk politics,
Premier Herriot declared in beginning
his promised statement on the govern
ment's financial policy. but solely to
let the country know the exact finan-
cial situation. 1t Is the governments
duty to inform the country Of It,"
The chamber listened with the clos
est attention. noting that the premier.
contrary to his custom, seemed to IN
tend to read his speech.
During the war" said the premier.
I'VE had to borrow the most possible
while paying off the least possible.
Now we must pay off the most possl-
BILE while borrowing the least possible.
Huge Total Indebtedness.
Premier Herriot sketched the ter
rible consequences of the war. nota :
bly, to France. He said that by the
end of the war France had borrowed
55, 500, ,00O,0 francs, plus 100000
600 francs in national defense bonds.
BY the end of 1918 her indebtedness
was IA 900, 900 francs. Since the
apparent liquidation of the war the
appeals made to capital investment
had been $4,000, 100000 francs in 1920;
q. .00o, 900, 900 in 1921; 17.000.000,000 In
1922; 18, 900, 900 900 in 1923, and 6,00o.-
600, 900 in 1924, showing the loans had
been decreasing.
The premier said it was not a mat
ter of addressing lyrical appeals to
the country for confidence, but to
show exactly what was to be done.
When the government, by virtue
of the London agreement, had found
it possible to deal with the repara-
ton proceeds SO as to allow for the
first time the inclusion of 1880. 600. 900
francs from this source In the bud
get, he said, the government had set
to work on budget which was
complete in itself and which balanced.
Needs Worlds Credit.
I'VE need the entire worlds credit >
continued M. Herriot. The world
must know that the franc will i'm
prove slowly, but surely. like the wine
of our country.
He cited England as having brought
the pound sterling well toward par
despite unemployment, while the
workers and middle classes of other
countries had suffered through other
solutions.
TT is for the franc that the gov
ernment demands the effort of all,
said the Premier. to the applause OF
the House.
"Volumes have been written for the
defense of the franc. Among the So
lutions suggested is revaluation
! which is rapid, immediate and de-
cisive But however seductive this
solution appears, l must tell you
| do not believe in a sudden solution.
| ICY" declared the premier. Healthy
| money is the only policy capable OF
| lowering the cost of living, capable
of giving France the authority she
needs in international councils"
Confidence Held Vital.
NJ. Herriot, appealing to all French
men to unite to solve the country.
financial problems, declared he hat
! entire confidence in the satisfactory
outcome of Frances troubles.
The country has the necessary re
sources" said he, "and 1t has tn.
needed determination to work out it:
financial salvation. All that now h
lacking is the confidence which ;
| union of all parties in a common ef
fort will restore"