FRANCE: Loud Forensics

“Alfonse and Gaston,” famed comic-strip Frenchmen in comical silk hats, came irresistibly to mind, last week as the Chamber debated with classic frenzy the fiscal policy to be pursued by France. Finance Minister Caillaux, a bald and dapper “Gaston,” outlined with deadly earnestness in a high pitched squeaky voice the keynotes of his plan to save the franc:

Un. The Government to demand authority from Parliament to act by decree and to conduct in secret its operations to resuscitate the franc. (It touched a new low-for-all-time last week—39.01 to the dollar.)

Deux. Simultaneous ratification of the Franco-U. S. and Franco-British debt agreements.

Trois. Funds for manipulation in stabilizing the franc to be drawn from: 1) An elaborate revision of French taxes calculated to produce three billion francs of new revenue. 2) Negotiation of international credit.

No sooner had “Gaston” Caillaux sat down than numerous “Alfonses” sprang to their feet and hurled diverse protests. Amid wild confusion M. Leon Blum, fiery Socialist, bitter foe of Finance Minister Caillaux and Premier Briand, poured forth a tirade in which he tore M. Caillaux’s proposals to tatters, pleaded for a direct levy on capital to save the franc and pay all debts, hurled awful warnings of “enslavement by foreign credits.”

The parallel of “Alfonse and Gaston” became perfect when M. Caillaux, conscious that M. Blum had dealt a vicious blow to his policies, yet retained his impeccable politeness to the point of congratulating M. Blum upon the oratorical perfection of his noble and sonorous periods.

Finally two motions were pushed to a vote. One, introduced by the Socialists and calling for a capital levy, was defeated by 121 votes. The other, a simple motion of confidence in the Briand Ministry passed by a majority of 12.

M. Caillaux, leaving hastily after the meagre vote of confidence rushed to London. There he bargained for lenient Franco-British debt terms got them. France will pay in the current financial year about $20,000,000, with gradually increasing payments until the 60th year, when the full previously arranged $62,500,000 will be reached. M. Caillaux’s cold financial heart pulsated with gratitude at Chancellor Churchill’s concession of a “safeguard clause” (protection of French interests in the event Germany should default in her reparations payments).