STABILISATION OF THE FRANC
Gan someone explain exactly what | happened in France a few years ago | when the value of the franc was depreciated from 9.513 d to 1.932 d? W.S. j [The French franc became heavily: depreciated during the war, due to paper inflation, and fell to only a fraction of its pre-war value. When the war was over it was seen to bo impossible to restore the franc on the old basis, and it was accordingly decided to adopt a new ratio, which made the franc worth, instead of lOd, about 2Jd. By taking this action France was relieved of the need of deflating prices, and was able to return to the gold standard without deflating prices as Britain chose to do. — Ed.]
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Auckland Star, Volume LXIII, Issue 183, 4 August 1932, Page 23
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125STABILISATION OF THE FRANC Auckland Star, Volume LXIII, Issue 183, 4 August 1932, Page 23
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