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As Explained in a Series of Cables From our Own Special Correspondent in Paris

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Paris, 10.30 a.m.

Nothing this morning intimated the imminence of a cabinet crisis. The sky was of spotless serenity, and the whole aspect of the city one of brightness and gayety. The hotels were full of tourists, the shops were crowded, the fountains were running, Punch and Judy was playing in the Champs Elysées, and the French franc which had shown signs of restlessness the day before had passed a quiet night.

The Chamber of Deputies, however, had hardly met at 10 o'clock in the Palais Bourbon when Mr. Painlevé rose in his seat and asked the premier if he knew what time it was. Mr. Briand replied that his watch had stopped. Mr. Painlevé rushing on to the floor in front of the tribune, demanded from the chamber whether a man whose watch had stopped was fit to be the premier of France. Instantly the chamber was in an uproar. Shouts of "A Bas, Briand!"--were mingled with cries of "Attaboy, Aristide!"

Mr. Briand, who preserved throughout the most complete calm, then asked for a vote of the chamber. The vote at once showed that not only was the whole of the Left side against Mr. Briand but also a bit of the Center and the East and South and some of the North-West. Mr. Briand immediately resigned and the great government which had presided over the destiny of France and weathered every storm for six days, went out of office.

Paris, 12.30 p.m.

It has now been learned that on the news of Mr. Briand's resignation the President of the Republic summoned Mr. Painlevé to the Palace of the Elysées and asked him if he could form a cabinet. On Mr. Painlevé asking for time the President said that he could have twenty minutes. Mr. Painlevé drove at once to the Chamber of Deputies and, crossing the floor of the house where Mr. Briand sat, kissed him on both cheeks and asked him if he would join his government. Mr. Briand, having thrown his arms around Mr. Painlevé, announced his willingness to join him. Within a few moments the chamber was informed of the formation of the Painlevé-Briand ministry, the news being greeted with acclamation.

The Painlevé-Briand Ministry

The president of the session having announced a ten minutes adjournment to allow the new ministry to make a budget, it became clear that the Painlevé-Briand ministry would find itself in a position of great strength. It will have the support of the whole radical bloc, together with a chunk of Socialists and about half a bloc of conservatives. No French government, for the last six months, has been in such a position of power. Briand, it is said with great satisfaction, will be virtually a dictator over the destinies of France. As soon as the news was disseminated on the Bourse the franc humped itself up two and a half points.

Paris, 11.45 a.m.

Mr. Briand and Mr. Painlevé, entering the chamber with their arms round one another's waists, read out their budget to a breathless house. The aim of the new government will be to put the finances of France on a basis of absolute stability. To do this they will at once borrow 4,000,000,000 francs. The loan, however, will be offset and made good by a credit with the Bank of France, which will then float a loan with the public, who will then be authorized, by a decree, to borrow from the bank. The entire credit thus created will be added up and declared extinguished. The announcement of the budget policy was received with a salvo of enthusiasm, the entire left embracing the whole of the right.

Fall of the Government

Paris, 12.30 p.m.

The Briand-Painlevé government has fallen. Entrenched in power as it seemed behind a solid parliamentary support, it fell suddenly and unexpectedly on an interpellation during the budget debate. Mr. Raymond Poincaré, who is generally regarded as the master mind of French politics, rose during the discussion of budget and asked whether the government intended to retain the tax on beer. On Mr. Briand's saying that it was proposed to keep this tax, Mr. Poincaré declared that the true national policy would be to let the Germans drink enough beer to pay taxes for both nations. If they couldn't do it they should be made to. The whole chamber seethed with enthusiasm, during which Mr. Briand and Mr. Painlevé announced that their government was at an end. The president of the chamber, calling for order amid the tumult, asked if there was any gentleman present who could form a new government. Mr. Poincaré offered to do so if the president would let him talk with Mr. Painlevé and Mr. Briand outside for a few minutes. The permission being given the three statesmen shortly afterward reentered the chamber and announced that they had succeeded in combining themselves into a ministry to be called the Poincaré-Painlevé-Briand Ministry.

Poincaré-Painlevé-Briand Ministry

Mr. Poincaré said, however, that they would only do this if they could be assured of a block behind them. If there was no block they wouldn't be a ministry. The enthusiasm of the Left together with part of the Right and a little bit of the Top, made it clear that the new ministry will receive an ample support. An adjournment was made with universal congratulations.

Fall of the French Ministry

Paris, 3.30 p.m.

The new French government, which was formed by Mr. Poincaré with the support of Mr. Painlevé and Mr. Briand fell right after lunch. Details are yet lacking. Apparently it came into the chamber after lunch and fell. There is a general consternation. The Bourse is wildly excited and all the exchanges reacted sharply. It is said that the Governor of the Bank of France will be arrested and perhaps the Archbishop of Paris. It is whispered that the fall of the ministry was occasioned by Mr. Joseph Caillaux, who seated himself in the chamber and looked at the ministry with that inscrutable look which he has, till it fell.

The Caillaux-Poincaré-Painlevé-Briand Ministry

Paris, 4.15 p.m.

A certain measure of calm has been restored in Paris by the announcement that an entirely new ministry has been formed by the union of Mr. Caillaux--Mr. Poincaré--Mr. Painlevé and Mr. Briand. In a statement to the press Mr. Briand said that the old government had outlived its usefulness and that he welcomed the addition of Mr. Caillaux. A new budget would be made at once and would constitute, he said, the best budget of the last three weeks. This budget, which will absolutely ensure the stability of French finance will be based on a vote of National Credit supported by a Universal Loan and guaranteed by a Public Debt. Mr. Caillaux, whose financial genius never shone more brightly, is working out a tax, to replace the proposed capital levy and the income tax, and to be called the Tax on Somebody Else.

It is said in well-informed circles that if the government can be widened to include a royalist element and to take in a few communists and a bloc of socialists, its success will be assured. If it can then pursue a policy which will be sufficiently clerical and conservative while at the same time strongly socialist, with a touch of opportunism, it may last till Saturday.

Meantime the theatres are all open, work is plentiful, everybody is happy, Paris is bright with spring flowers, the hotels are full of Americans dripping with money, the new fashions are said to be simply charming, the skirts don't reach anywhere, the watering places are wetter than ever--so what does a little thing like a government matter?

Winnowed Wisdom

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