FRANCE’S STAND

Grey River Argus, 17 September 1934, Page 5

FRANCE’S STAND

BY STABLE MONEY Budget Balanced (Aus. & N.Z. Cable Assn.) (Received September 16 a 4 7 p.m.) PARIS, September 15. M. Germain Martin, Finance Minister, announced the balancmg o f the Budget fdn 1935. He estimated the receipts at 47,022 million francs, and the expenditure at. 45,984 million francs. He added that the Budget has been balanced without imposing new Hixes or fresh sacrifices from the civil servants and the ex-soldiers Ho also announced that the French Government -emphatically rejects the devaluation of the ftrane. He stated devaluation would compromise the recovery of the financial market, and ‘would cause higher prices. Thio preamble to the- Minister’s statement condems tariff barriers as leading t 0 material ruin'and to the progressive disappearance -of civilisation. He says: “We are persuaded that European nations, and also the world generally, (will soon be convinced that a stable currency, based on gold, constitutes the sole basis of exchange, and that there will soon be a retu'rn to normality. Th ( e fact that France has signed twenty-three trade agreements i n the past year is a. hopeful sign.’’