FRANCE: Budget, Franc

At 3:30 one morning last week, the Chamber of Deputies terminated eight months of wrangling over the French budget for 1926— voted that instrument.

The imposing total stands at 37 billion 500 million francs. It "balances" with a surplus of 160 million francs. Upon the innumerable issues faced during this budget's creation, five Ministers of Finance have fallen.*

Financial experts deplore the new budget's many inconsistencies and general lack of coherent plan. It represents a political compromise between the Left, which demanded the raising of additional taxes by a "capital levy" (bearing chiefly on the...

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