FRENCH FINANCES
PRIME MINISTER’S STATEMENT
COMPLETE FINANCIAL RECOVERY
THE AIM
PARIS, February 2. (Received February 3, at noon.)
M. Poincare informed the House of Deputies that the franc had been virtually stabilised at one-fifth of its value and the cost of living was five times what it was before the war. The statement indicates that M. Poincare has decided to stabilise the franc at a rate probably slightly exceeding 124 to the £. The Prime Minister added that t the debt agreement had not been ratified because no one was able to transfer francs over a period of sixty-two years, hut IHance could pay her debts, and was doing so. She was making an effoit in every way to obtain complete financial recovery, though the task had only begun.
DEBT TO AMERICA
AN INTEREST PAYMENT,
AVASHINGTON, February 2. (Received February 3, at noon.)
The Treasury has received 10,000,000 dollars from France as interest payment on its 400,000,00 dollars war supplies obligation.
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Evening Star, Issue 19781, 3 February 1928, Page 7
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160FRENCH FINANCES Evening Star, Issue 19781, 3 February 1928, Page 7
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