Evening star., 1936-05-07

their votes to each other in the run-off.
And one may well ask, What Is a
French Communist? The Commu-
nists campaigned on a strictly ma
tionalist platform: they appealed for
the home and family. They hoisted
the tricolor.
In internal policy the demands Of
even the Communists are relatively
modest. Above all, they demand the
naturalization Of the Bank of France.
That demand seems to have consider
able reason to support it, If one con-
siders certain facts about this mighty
institution. 1t represents the peak OF
the financial oligarchy which has ira
ditionally ruled France, with one
prime minister after another as its
creature. Frenchmen (who are not
Communists) say that France is not a
republic, but pawn in the hands OF
l8 kings-the l8 regents of the bank.
BY terms Of its basic charter, only the
200 shareholders with the most stock
can vote for regents, although there
are over 10000 shareholders.
These 200 families have become
an hereditary aristocracy. OF the ID
regents, only the governor and fve
others are appointed by the govern
ment from the top Of the civil service,
although the bank issues the public
moneys and holds the gold supply.
OF the IL private regents, are
strictly hereditary and Of the 6 are
from families who came from Switzer-
land in the eighteenth century to
help Necker save the finances Of
Louis XVI.
BY interlocking directorates these
IL men have $50 seats in IS COR
porations, representing so per cent of
the industrial output of France. By
withholding or granting credits they
can make or break any government.
They broke the Flandin government in
this manner in 1885. They have been
accused, and with a great deal Of
evidence to support the indictment.
of deliberately inducing panics for
political purposes. They have stood
intransigeantly for deflation. policy
which has greatly impoverished the
average Frenchman, and in the opin-
ion Of many totally unradical critics
has been responsible for the retarda-
ton of French recovery. Yet not
even the parties of the Left want de-
valuation. They want international
stabilization and gradual relation. \
In Power at Bad Time.
But the Left comes into power at
a very bad moment. Committed to
the League and collective security
they enter the government when the
League has suffered the most humil.-
ating defeat in its history. The in
ternal financial crisis is acute and
the Bank of France will probably CO
nothing to mitigate it. The extreme
Right, which is growing more and
more Fascistic and which also in
creased its power in these elections.
will be sure to paint the Communist
bogey 10 times larger than life on the
wall. And one can be certain that
from Germany will come via press
and radio. warnings that Hitler's pre-
diction has come true and that the
pact with Soviet Russia has intro
duced Communism into the midst Of
France. That the pact with Russia
had nothing whatever to do with the
increase in Left vote is beside the
point. The debacle of the Popular
Front in Spain will also be embarrass-
ing to this government.
1t is not yet clear who will head
it. Leon Blum. leader of the Social
lists, is the obvious man, since he
heads the strongest party. But Leon
Blum is old, tired and at no time
has he been a man Of action He Is
rich, a recluse. almost intolerably
cultivated" pre-eminently the INTEL
lectual, and a Jew I cannot recall
that France has ever had a Jewish
premier. and were he to take the
position this again would be used as
a weapon by the Fascists. He hap
pens also to be an honest man. and
despite his hatred of Fascism to have
opposed sanctions against Italy. Dalai
dier of the radical Socialist may be
selected but he is under a cloud be-
cause of his suppression of the Feb
ruary 9Th riots.