Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-08
The French Crisis
BIZ Frank II. Sin,onds.

500 fENkaEE la nj flE1f
VA - 3.
serve 70 indicate the single dennies
fact, which II that France II not yet
reailv for ina ultimate operation which
ID. ~. I'M, n,,s ,,..,a.
~ usl.lon = - ~ $500 -. Z. 80
solution when any one can See - the
so-called cabinet OF concentration,
xvlirl, Y,,ea NJ IN airnuIA terms. the.
81 ~, ~, ~ al =. =.
q. - -.
ties and groups IN 2 single govern
i rnent.
s,,ch 8 81 bination wand have
d 49,
i OBVIOUS autnority. since q Wonla II, pes
4 MAtionhi. nOt 9 10y, .csaDineI. ng ~
~ y - ~ = y. e
LhhL tne Issp0hhlpll.sy dV0 gne Uua llNIl
1or me suHerahg Mnlcn WO eI, !! res 1..l
MOuln ,nen ~ snareu w ~ A! ll.l.! "
i Rersonel or paElisan advantase M0u ~
/ 90 70 the elements not Represented, ~
the caDinet ana tnns tecnnlcaily hos
responsiple. u. 49,
\. Two years ago last month the rom
care caDineI Went OUT OF power Des
cause, tarQiiy put necessariiy. roln'
i care mao adopted program q aras'
uc Laxatlon Inc hadlca,s eno ~.
Il ciailsls seizea poWer, paEliy pecA 80
4 rolncares Iorelgn pohcy 49, III.
4 popuiar ano the hunr ocsupdtLon g g
Il iahure, Dut IN the main because q
MS tax measures. when lo so ING !
i countTy} ~ surprise anu prouucsu e &
pVhtical ISNolt
/ Having come to power In this
i fashion, the RADICAL Socialist conbi-
l nation has naturally fought shy q
any repetition Of the course winch
wrecked its predecessor. II mas, sug.
gested all sorts Of measures IKE
capital levy. which would strike
single class; II has avoided the very
general and welinigh universal Eacri-
nee which must 0e mace 4 Ine NAHUM
Is 70 recover lie nnanclal neAlsh. -,
6Eland, VINO y consu a.l..s .s,a e.,
- a...,..s - ~, S,s 1870 vas has
saiai,, ana sir,,,iv haen ayvaitine the
| fi,,,s. ,vhar fhings would ret 50 bad
| chat tia yafion a. q whole would
awaLen ~ the Situation and supply
| the poD,ilar support for the things
/ which have to be done. Patiently
| WREN his other cabinet fell a few
dava ago he hoped that the moment
| mad come. But, first; Herriot, the
Radical leader, refused to como into.
4 national cabinet, and then Poin--
care, the leader OF the former bloc
Il ARlE8tIAk
| the nronoaed cabinet. declined to take
Ifhe most fIf danger--rlamely, finance.
Poincare and his followers In re-
atty refused to assume all the re-
snonaihiIity for the unpopulartty
Ivvhirh was inevitable and permit the
Radical.s Socialist combination to gain
rseU DoIitical capital. As a conse-
luuence what has come out Of the
n,ars ii sfifl another temporary cab-
inet. with CailIaux as finance min
isfar. mt with no solid majority IN
~ ,rhamher III n fair forecast
| that nofIIinr Of real Importance win
| - ma, now and THAT IN q brief period
/ ~ tiTne the new cabinet will fail like
lie rredecessor.
1 N !, = =
y 49,. $1,000,
Caliiau1 - s0hctnans = ..su.. ! =
genius, pnt DE H - 49, ~. Z. 800 ~.
presuse - so5 ,.. az. ~, s...,s ,'.ss,,.e
must % savs1 a,.is,., IN. go thiS sa,,
n Z. = 800 ahn,,f urhen the efrong
| la sars NJ The larger nolfticaI groups
ara all brought together. A ministry
~ national Slefense Is now indicated
q clearly a Il was ii the critical
nerss,d ~ the war.
r e Tia verv flrst thing which any
Ireal gnvernnnent has Is do is to fix
i,ron A vaiue. for the franc, or even
g dnnt Z new franc. with q value
/ which. cannot now Re much, IL any,
ahove the present market price OF the
cld franc. This means in ordinary
/ terms That stafyilization VIII wipe out
fiva.sixths and perhaps q little more
of the value Of the old standard.
Those who have bought French
bonds at various prices, whose whole
Fortunes have been invested, whose
II y -. ~ a.z
French securities, will In practice be
lbeggared. II g. man had $4,000 in
vested In French rentes he will now
find his holdings shfunh permanently
to something like $1,000, and his In
come similarly. or course, the shrink.
age has taken place. but there has
remained UP TO now the nope. ana
even the belief. that m time the toe
would turn and the franc climb back
to Its old value.
i -
Along with this tremendous ampu-
/ tation will come hard times, unem-
Iploynent, all the ills which have be-
come the classic attendant circum-
stances Of defiation. The middle
class win be crushed II not sabol ished.
as was the case IN Germany. and
There viii be q time Of social unrest
and general misery which WIN put
.s.a,, = ~ ,,t,at,o o tine yili r.
! n,,,s,dara,,ia dagrsa - least ~ 81, The
:. ~ Ersnca sThis n inavitable
i -. ~, s- ~ ,nascana lle and ali clear
/ ss w Frencl1,aen see n.
/ Is,,t fi,a mass. 81 m, peot,le are not
vaf aIiva Il, re reality and the task
~ la.,ncatins them rs colossal. More
/ nvas. Il a clsar. that lie any one party
| a.. rrn,,r az parties and any comb
w s.stlls,, there remains an Opposition