VALUE OF THE FRANC
FRENCH PRIME MINISTER'S STATEMENT
Press Association—By Telegraph—Copyright.
PARIS, February 4
M. Poincare’s speech to-day is regarded as satisfying as well as pacifying. Its chief points are that there will be no immediate need for Treasury loan operations as the note circulation is normal and the relations between the Government and the banks are satisfactory. There will be no stabilisation of the franc before the General Elections, and no compulsory consolidation of the floating debt by means of a capital levy. M. Poincare showed himself to bo strongly in favor of a further revaluation, with the consequent stabilising at less than 125 francs to the £, which is generally considered as the probable rate. He emphasised the statement that the process must be_ carried out with a minimum of injustice and danger. Even the present figure presented enormous difficulties. He expressed the opinion emphatically that the hour of legal stabilisation had not yet struck. When it did the Government would submit a Bill. His statements caused a sensation on the Bourse and a fall in prices, which later rallied.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/ESD19280206.2.47
Bibliographic details
Ngā taipitopito pukapuka
Evening Star, Issue 19783, 6 February 1928, Page 5
Word count
Tapeke kupu
181VALUE OF THE FRANC Evening Star, Issue 19783, 6 February 1928, Page 5
Using this item
Te whakamahi i tēnei tūemi
Allied Press Ltd is the copyright owner for the Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in