Of late, ever lowering storm clouds have threatened to blot out M. Joseph Caillaux as Finance Minister of France. Since the Painlevé Cabinet superseded that of M. Herriot (TIME, Apr. 27) he has fought a stubborn but losing battle to balance the French budget without resorting to inflation or a levy upon capital (TIME, May 25), and failed in his attempts to devise a scheme for paying off the country's debts.
In France, as elsewhere, nothing fails like failure. And last week M. Caillaux added insult to failure by two acts: 1) He defied...
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