IN FRANCE.

Hawera Star, Volume XLVI, 29 December 1926, Page 5

IN FRANCE.

STABILISING THE FRANC. to CABLE—PRESS ASSOCIATION—COPYRIGHT PARIS, Dec. 27. The newspapers give prominence to the fact that the Bank of France is equally willing to buy or sell an unlimited amount of sterling at 1221 francs to the £l. This has been interpreted to mean that the Government is preparing legal stabilisation of the franc at this figure. This is not true, but the Government is anxious to prevent speculation forcing francs above 3.20 to the £1 as being detrimental to trade. HARD TIMES EXPERIENCED. PARIS, Dec. 27. The prevailing hard times are due to the over-rapid recovery of the franc. There was too much joy out of Christmas festivities. Most Parisiens were able to afford the high prices or feasted at home. An unusually cold snap was experienced. The Loire 'was frozen for the first time since the war. Several deaths occurred from the cold in the Loire Valley, -where unemployment is beginning to be serious. French -manufacturers of many lines arc unable to meet foreign competition, and wool factories at Roubaix and Tourcoing are working short time. A single mill dismissed 1000 employees, and 2500 shoemakers aiid 1000 lacemakers are idle. THE COUNTRY’S POPULATION. PARIS, Dec. 27. The population of France, according to the latest return, includes 2,495,000 foreigners, of whom 500,000 live in Paris and 15p,000, mostly Italians, in Southern France.