Reynaud Budget

In the French Chamber of Deputies the yearly budget debate drags on for dreary weeks, has none of that snap and surprise which makes the British Budget a sort ot Olympic Game always played to packed galleries in the House of Commons (TIME, April 21).

Worn to a frazzle--as were likewise half the orators in France--Finance Minister Paul Reynaud put through last week by the tremendous majority of 405 to 191 a budget balancing at 50 billion francs ($2,000,000,000).

Per capita the French now owe a national debt of $466. Just across the Channel every John Bull and his Jane are sunk with a debt of $830--the greatest per capita of any people on earth. Just now France is doing so well that last week she was able to pay back ahead of time $75,000,000 borrowed from Swedes. While Mr. Snowden is forced to raise British taxes, M. Reynaud was able to make last-week a slash of more than $75,000,000. Much of this cut will directly benefit U. S. tourists. The de luxe hotel taxes have been deeply cut, the tax on purchases of luxury articles has been halved, no longer will the "nuisance" tax for landing and embarking be added to steamship ticket prices.

Chamber and Senate last week passed legislation to increase duties by weight instead of ad valorem on imported motor cars (TIME, April 21). The Chamber later carried a Government motion waiving the usual six-week Easter recess, compelling Parliament to sit and sweat over a complex social insurance bill already debated to distraction.

This file is automatically generated by a robot program, so reader's discretion is required.