CURRENCY DEVALUATION
MOVEMENT IN FRANCE. [BY CABLE —PBESB ASSN. —OOPYBIGHT.J LONDON, Sepember 5. The “Daily Telegraph’s” Paris correspondent says: The monetary situation as reflected in the lower values of the pound and dollar is focussing the attention of the Paris press, which is devoting increasing space to a discussion of the pros and cons of currency devalution. While the greater volume of opinion favours the maintenance of the gold standard by France, there is an increasing advocacy of alternatives. M. Reynaud, an ex-Minister of Finance, writes to the Press contending that further devaluation of the franc would not seriously affect the cost of buying, and he emphasises particularly that Britain’s woollen exports have showed three millions sterling of an increase durtug the first half of 1934, while there had been a devastating drop in France’s wool exports. He also points out that in forty-eight countries which have devalued their currency the cost of living has not been seriously increased.
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Greymouth Evening Star, 6 September 1934, Page 7
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159CURRENCY DEVALUATION Greymouth Evening Star, 6 September 1934, Page 7
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