FRENCH FINANCE

Auckland Star, Volume LIX, Issue 30, 6 February 1928, Page 7

FRENCH FINANCE

Stabilising Of Franc Yet Inopportune. PREMIER'S POLICY. PARIS, February 5. The two daj's' speech by the Premier, M. Point-are, on the financial position is regarded as being satisfying as well as pacifying on the chief points. There is no immediate ::ccd for Treasury loan operations. The note circulation is normal and the relations between the Government and the banks are satisfactory. There will be no stabilisation of the i"ran_before the elections, no compul>ory consolidation of the floating debt, and no capital levy.

31. Poincare showed himself strongly in favour of a further revalorisation and a consequent stabilisation of the franc at less than 125 francs to the pound, which is generally considered as the probable rate. He said the process ! must be carried out with the minimum of injustice and danger. Even the present figure presented enormous difficulties. He believed emphatically that the i hour for legal stabilisation of the franc ! had not yet struck. When it did the ! Government would submit a bill to the | House. i M. Poincare's statements caused a sensation on the Bourse and a fall of prices, which later rallied.