STRONGER FRANCE.

Auckland Star, Volume LXX, Issue 180, 2 August 1939, Page 7

STRONGER FRANCE.

MARCH OF RECOVERY,

NEW SPIRIT OF PEOPLE.

« TRANSFORMATION " IN PROGRESS. France's recovery has been one of the heartening sijrns in recent months, said the city editor of the London ''Daily Telegraph" in an article on July 3. This recovery had lieen economic and financial and had been assisted by cohesion

anions the population. "The reversal of the social policy, with its restrictive effects on production, has helped to rehabilitate France* economy,-' he added, "and tlie *"f which M. Reynaud (Minister of Finance) ; tf »££S rS&^nSTThe re,,, income ia Znwivs Recoverv will need to go further ' but the change that ha* taken ,£ since October, 1»:«. can rightly be described as a tran>torinaii<>n. "The change-over from over-vhlllation to undervaluation of the franc is helpin" to revive the export trade. While the dilemma of public finance remains, crowing confidence in the outlook has brought back balances eent abroad estimated at £110.000.000. Latent capital has emerged into activity, and though taxation is taking heavy toll of the resources of the people, it is apparent that the spirit of the nation has improved. With the productive machine moving more quickly, and its standard of erticiencv raised, the principal source of confidence is now in the future.

"There must be a balance between a free economy and a regulated economy in a country like France, which i«5 individualistic by tradition. As the spirit of the nation grow* and becomes less oppressed by political fears, the .obstacles should be surmounted, how[ever great they may seem."