FRANCE: Debt Wrangle

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The sizzling Paris heat at last proved too much for even grizzly-bearded M. Raymond Poin-caré. He, "Lion of Lorraine," President of France during the War and for 35 months past her indomitable Prime Minister, will be on the 20th of next month 69 years old. In the course of the present debt debate (TIME, July 22), he had addressed the Chamber for a total of more than 37 hours (three or four hours daily) reading every word from sheets covered with his neat, almost microscopic handwriting. Result: the strain gave him a high "gastric fever," his physician last week imperatively tucked him into bed.

Nothing could have been more fortunate for the Government, for the cause of ratification, for the Prime Minister himself. The Deputies, overawed by M. Poin-caré's gargantuan logic, had given him a vote of confidence 304 to 239 on a minor issue, but they had also grown sick and tired of the sound and sight of him. Sighs of relief stirred the sultry air as the Government's defense was taken over by pouchy-eyed Foreign Minister Aristide Briand, wise and wily as an old tomcat, nine times Prime Minister of France, incomparably her most winning, sonorous orator. Whereas M. Poin-caré had piled the Chamber's rostrum mountains high with notes and documents, shrewd B'rer Briand with a droll little gesture laid one of his visiting cards on the stand before him and commenced his spellbinding quite extempore.

Bouillion v. Briand. Stout, excitable Deputy Franklin-Bouillion, who was Minister of Propaganda during the War and now leads the obstreperous Left Unionist Bloc, was last week the first anti-ratifica-tionist to cross a potent sword with M. Briand as the Foreign Minister assumed the Government's defense. With fire and slash M. Franklin-Bouillion sought to destroy by an emotional onslaught the Government's chief logical reason why France must ratify her debt agreement not later than Aug. 1 next. On that date, as M. Poin-caré had incessantly reminded the Chamber, there would fall due the debt of $400,000,000 owed by France for War stocks purchased from the U. S. after the Armistice. The only way to escape paying this huge sum now and in cash would be to ratify the general debt settlement, one clause of which virtually grants France a moratorium on what she owes for War stocks. Logically the Government's position was unassailable—either ratify or pay at once "through the nose." But to Propagandist Franklin-Bouillion logic is something which can always be worsted by appeals to passion. Working himself by degrees up to a whirlwind climax, he pointed an accusing pudgy forefinger at M. Briand, shouted defiantly: "You cannot and you shall not force France to debate the debt settlement with a knife at her throat!"

As the Foreign Minister began to reply —softly at first—the excited Deputies seemed less than usually responsive to the persuasive cadence of his cello voice. If M. Briand was to turn the tide he must indeed surpass himself, and presently, magnificently he did.