The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-04-07
STEP
ALREADY
TAKEN
Measure in Hands of Cham
ber's Finance Committee.
Favorable Report Expected

=
PARIS, April THE chamber
Of deputies today referred to the
chambers committee on finance
the law proposed by Finance Min
lister De Monte to extricate
France from its perilous finance
situation.
The law, in brief, provides for
. voluntary or patriotic contribu-
ton on the part Of French sub
jects and corporations of 10 per
cent Of their wealth. On this
contribution the government would
pay perpetual tax of approx
mately 8 per cent.
Plan Is Compromise.
The De Monzie plan was submit
ted to the chamber this morning.
after having been discussed and
approved by the cabinet at two con.
ferences yesterday. The De Monte
law is somewhat OF a compromise
on the proposal of Premier Herriot
and the socialists generally that q
flat levy Of 10 per cent, without in
Eerest. be made on all accumulated
wealth.
The De Monte law consists of
i've chapters. The first provides
for increasing the currency. The
other four outline compulsory loans
and include all persons now liable
for income taxes. Both individuals
and corporations are invited to sub
scribe as much as they desire, but
1T least 10 per cent Of their capt.
tai on which perpetual interest Of
3 per cent would be paid.
Arbitrary Assessment.
All persons not having subscribed
Ct least 10 per cent OF their capital
within a period fixed by the law,
will be arbitrarily assessed. If this
assessment Is contested the valua-
ton would be determined through
methods used in the inheritance tax
laws.
The governments receipts from
the De Monte law, in excess of the
amount necessary to restore the
Treasury's security win be applied
to amortization OF the public debt.
The chambers finance committee
win examine carefully the de Mon
zie law AMI send 1t back to the
chamber Wednesday, at which time
&C win be subject to debate.
The reception the de Monzie plan
win receive in the chamber is prob
lematical. It is expected to be the
turning point in the Socialistic
Herriot government. De MonEie
himself, according to authoritative
newspapers, viii resign II the pro-
posal is rejected by the CHAMBER.
Sufficiency Questioned
There is a tendency on the part
Of the French financial experts
TO question whether the ten per
cent contribution viii be sufficient
to meet the nations financial needs.
De Monte believes it will do more
than that. for his law provides
that what Is not used by the gov
eminent to make its financial
structure secure viii go to reduce
Frances internal debt.
The Herriot forces are counting
on the reversal met in the election
TO the Senate Of former President
Millerand to consolidate the Left
Bloc elements through fear and
lead them to present united front
to the Nationalists. This welding
Of the Socialists win make possible
the steam roller for the finance
law, it is believed.
Left Bloc United.
The Left Bloc caucus indicated
its unity when it voted to oppose
any attempt Of the Nationalist to
attempt a filibuster against the
De Monte measure.
My plan puts premium on good
citizenship" De Monte told the
press after the Cabinet meeting. at
Is a plebiscite Of the country's at
titude on the financial situation. It
will be the barometer of Frances
confidence in herself.
The plan proposes to solve
Frances financial difficulties by
voluntary and spontaneous contri.
buttons, offering the contributors
the maximum of liberty with a mini
mum OF constraint. However, the
government later will arbitrarily ap-
praise those persons refusing to SUBJ
scribe at least one-tenth Of their for
tunes"