FRENCH FINANCE

Hokitika Guardian, 25 September 1930, Page 5

FRENCH FINANCE

ANI) BRITISH DEBTS

[United Press Association—By Electric Telegraph—Copy right. J

, (Received 11.40 a.in.) PARIS, September 24

,I’t. is learned from official sources that 4)ie,,i[yciich Government counlemplates a large scale of financial operation as soon ap conditions are favourable. It is believed.lit may comprise the redemption of part or whole of the 1915 five per cent, rentes. It belatedly leaked out that' in this connection the Government, in July received a note from Mr Snowden backing the claims of British holders of rentes issued during the war amounting to 1641 millions francs, that they .should be paid on a gold basis ins L ea<J. of with stabilised paper francs, which are worth two pence compared with ten j pence before the. war. It is (recalled that France unyieldingly insisted on her borrowers repaying on .a .gold basis, yet she refused the same' right to British holders. It . ip admitted on behalf of the British,! holders of rentes that they have no legal claim, but it.is urged that n strong moral claim is accentuated by the reflection that had Britain insisted on full payments of the French war debt France would not now be the largest gold 1 holding country in Europe, witli* 1 no unemployment, while Britainwould not be under such a staggering income tax, and would not hnyo such a huge number of unemployed,