M. Baudouin

Head of Bank Through Which

British Are Helping Free French

Colonies Extraordinary

Situation.

IT is an astonishing thing that the Australian Government, in assist ing the French Pacific Colonies to maintain their economic structure, in friendly association with the British Dominions, should have permitted the machinery of finance to remain in the hands of the Bank of Indo-China.

Prior to the capitulation of France, the only bank operating in New Cale donia and French Oceania (Tahiti, etc.) was the Bank of Indo-China. Since the surrender of France, the British, Aus tralian and New Zealand Governments have helped the French Colonies to carry on—they, otherwise, would have been commercially and financially crippled—and colonies’ finance still runs, as heretofore, through the Bank of Indo- China.

The Bank’s head office is in Paris.

The Bank is controlled by men close to the Vichy Government. Those facts might have been overlooked.

The fact that cannot be ignored is that the Director-General of the Bank is (or was, in July last, and we know of no subsequent change) M. Paul Bau douin, the anti-British Foreign Minister of the Petain Cabinet.

“Paul Baudouin,” said an authoritative writer, a few weeks ago, “is typical of those who wished from the start to make peace with the dictators, and who now are anxious to salvage all that is pos-

sible . . . Since the French surrender, he has been most bitter in denunciation of Britain.”

Baudouin started life in the French civil service, but now he is head of many great French companies. He is typical of those Frenchmen who, having con tributed through their selfishness and money-hunger to their own country’s unhappy defeat, are now more than ready to drag down Britain.

It is through the financial institution —the Bank of Indo-China —directed by this man that the simple-minded Gov ernments of Australia and New Zealand are now operating, in order to help the French Colonies to carry on. And the French Colonies are for de Gaulle —and therefore against Petain, Laval, Bau douin and company.

It is an extraordinary situation —and will remain so, as long as the Bank is permitted to enjoy its monopoly.

The Bank of Indo-China in Noumea, New Caledonia.