New Britain herald., 1926-07-17
|CAILLAUX SENSES EXTREME CRISIS
 Bess Deputies to Reconsider and Extend His Powers
 SITUATION CANNOT WAIT

Wants Right to Deal With Financial
 Muddle At Once, Despite First
 Vote Against Giving Govt. Un-
 limited Powers.
 Paris, July IT lR-spurred by the
 ever plunging franc and with the
 full support of Premier Briand, min
 ister of Finance Caillaux will appeal
 to the chamber as a whole today to
 reverse yesterdays decision of its
 finance committee against giving
 him extended powers to deal with
 the financial situation.
 M. Caillaux regards the situation
 as being so critical that he wants an
 immediate decision, even if the
 chamber has to sit Sunday. He feels
 the question cannot rest undecided
 until Tuesday. which is the day on
 which it originally was intended
 that the measure sh >uld be debated.
 Playing Politics
 The tendency of politics again to
 predominate over the financial prob
 lem, as so often has been the case
 before, has strengthened the govern
 ment's determination, and it has de-
 cided to press for ratification of both
 the British and American debt set
 dement's before parliament recesses
 for the summer.
 NJ. CaillauX maintains there can
 be no real restoration of French f. nances and no stabilization of the franc until the war debts have been settled. His statement 10 the finance committee that he expected a letter from the United States government which would remove most of the ob- jections to the agreement seems to be a case of the wish being father to the thought but shows the ex- treme importance that he attaches to ratification as one of the corner stone of his financial edif1ce.
 Secretary Mellon's declaration that, in effect. the United States had cancelled the obligations of France for all advances during the war, made in Washington yesterday, l reached Paris after the Caillaux statement and too late to receive | more than typographical prominence | | in the newspapers, without con- | ment.
 Echo de Paris however, remarks that Mr. Mellon, in his figures, does | not take into account the s400,000, ! | 900 owed by France for war stocks, i | and adds that if all Frances obliga- ! | tions to the United States were to- i tailed the same way as all her obli- ! gations to England had been total . lied, the Mellon figures would be { correct and yet the Caillaux-Church- lin agreement would be still slightly better than that concluded between |Mr. Mellon and M. Berenger, French Ambassador to the United States |who handled the debt negotiations Mr. Mellon's declaration was in answer to critics who contended that Great Britain had given France more lenient debt settlement terms |than were granted by the United |States. He pointed out that com |mercial debts and bank of England loans were not included in the Cail- |laux- Churchill agreement, apparent fy being treated separately, and therefore do not appear in the total |of the Anglo-French settlement terms. Everything was included in one total under the American set |tloment, it was recalled.
 Refuse to Extend Power The finance committee of the Trench chamber refused to grant |the government full powers yester- day by a vote of 14 to IS. Mean while the franc fell to new depths. Tt was quoted at 42.49 to the dollar land 206.3 to the pound sterling when the Bourse closed, but later rallied to 4153 to the dollar and |202 to the pound.
 Members of the left groups were responsible for defeat of the full powers bill in the chambers finance bommittee. The socialists failed 10 , Hollow the example of their col leagues in Belgium. who joined with Ehe conservatives and liberals in voting dictatorial powers to the king. I
 There was slight change in the position of the Belgian franc yes Eerday. It was quoted when the Brussels market closed at 4S.40 to :. he dollar and 211 to the pound . Bterling.
 The Belgian government will in ,, ktall betting agencies at race tracks |, n city and country centers, retain : ng five per cent of all amounts Iyagered, as one of its measures 10 Increase the federal revenue and re- II store financial equilibrium.