4
CAiLLAUX STARTS '
WITH STRONG HAND:
Removal of Head of Bank of!
France Calmly Received
in Paris.
By the Associated Press.
PARIS. June ‘.'6.—The first adminis
trative act of Joseph i'ailUnix as min
ister of finance in the new Briuml
cabinet was to replace Geckos Robi
neau. governor of the Bank of France,
bv M. Moreau, director of the Bank
of Algeria.
This act, which ordinarily would
have been received as a sensational
measure justifying the reputation of
the finance minister for audacity, has
been received calmly, as it has been
discounted for some time.
M. Robineau, who long has been an
opponent of inflation, has been at
grips with the French ministry ever
since the Radical-Socialist coalition
came into |lower in 1924. Me also has j
been a staunch opponent of the use j
of the gold reserve In the Bank of j
France in an effort to stabilize the
franc.
hirst C lash in 1925.
The first serious crisis in his re
lations with the French ministry came
in the Spring of 1925. The Herriot
government, then in power, urgent
ly requiring funds to meet demands
for the reimursement of the national
defense bonds, demanded advances
from the Bank of France in excess of
the limit authorized by Parliament.
M. Robineau at that time gave way
to the demands of the Herriot gov
ernment rather than he responsible
for the consequences of a default on
the bonds.
