ANXIETY IN LONDON
CAUSES OF DEPRESSION.
(Received"loth.March,.9 a.m.)
• LONDON, 9th March. The fact that the franc to-day is worth 2d has attracted 'widespread "attention. The "Observer's" city editor says that the position is causing the utmost anxiety in the city, for it is realised that were France to join. the nations whose currencies have become practically worthless, the effects would be far-reaching and disastrous. *
"Depreciation," he says, "is an alarming symptom which has been seen before in many cases of debased currencies in Europe. Three causes have contributed —(l).-Bad national, finance, France having borrowed from her people instead of taxing them; (2) world-wide speculation ; and (3) currency inflation. ■ "Eleventh-hour efforts to put the national finances in order have not inspired confidence. The Senate and M.'Poincare are at loggerheads, and what may be the outcome it- is impossible to foretell. Meanwhile, the printing presses are getting busy, and with rising prices everywhere the demand for currency grows in volume." -.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19240310.2.53.5
Bibliographic details
Evening Post, Issue 59, 10 March 1924, Page 7
Word Count
158ANXIETY IN LONDON Evening Post, Issue 59, 10 March 1924, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. 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.