FRANCE: Caillaux and Cabinet

Twice in one day Wizard Caillaux waved his wand before the Cabinet. Presto! he produced a budget for 1926. Presto again! he produced a debt mission to go to the U. S.

The Caillaux Budget. After the War, France for a long time had a system of two budgets. One was an ordinary budget of receipts against Government expenditures, which was made to balance. The other was an extraordinary budget including expenditures for reconstruction of the devastated regions and receipts of German reparations. The expenditures for reconstruction always came up to the...

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