FRANC PEGGED
FIRST STEP TOWARDS STABILITY STATEMENT BY MINISTER OF FINANCE. CONTROL OF COMMODITY PRICES. (Recd This Day, 9.45 a.m.) PARIS, May 5. The Minister of Finance, M. Paul Marchandeau, has announced that franc has been fixed at 179. M. Marchandeau later explained that this is not stabilisation, but the first operation of de facto stability which he will pursue with inflexible determination, backed by the help of all Frenchmen. A special ’ communique gives a warning that the Government will not tolerate any unjustified rise in commodity prices. The franc is at present linked only with sterling in fluctuatable relation with the dollar. Over £16,000,000 worth of gold was sent to France this morning as the result of the pegging of the exchange.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/WAITA19380506.2.53
Bibliographic details
Ngā taipitopito pukapuka
Wairarapa Times-Age, 6 May 1938, Page 7
Word count
Tapeke kupu
123FRANC PEGGED Wairarapa Times-Age, 6 May 1938, Page 7
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Wairarapa Times-Age. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in