FLUCTUATIONS OF THE FRANC.
This is how the French efforts at currency stabilisation and financial reform were viewed by a London merchant writing at the beginning of September :—"French business men anticipate a distinct slowing down in trade if not an actual slump by reason of the heavy addition to the tax burden imposed by M. Poincare and the enforcement of the policy of restriction of credit, which lias already begun with the raisins of their bank rate to 7M: Per cent. During the past two weeks tho fluctuation lias been less violent, and even for tho comparatively small variations which have taken place thero has been little apparent reason. M. Poincare's public references to the franc have been vague and presumably of set-purpose indefinite, so that if ho himself has any faith in his ability to stabilise the franc ho has never hinted at what figure it is likely to come to rest."
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https://paperspast.natlib.govt.nz/newspapers/EP19261014.2.119.5
Bibliographic details
Evening Post, Volume CXII, Issue 91, 14 October 1926, Page 13
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154FLUCTUATIONS OF THE FRANC. Evening Post, Volume CXII, Issue 91, 14 October 1926, Page 13
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