FINANCES IN FRANCE.

Manawatu Standard, Volume XLVIII, Issue 58, 6 February 1928, Page 7

FINANCES IN FRANCE.

M. POINCARE’S SPEECH. REGARDED AS SATISFYING. PARIS, Feb. 4. M. Poincare’s speech to-day is regarded as satisfying as well as pacifying. Its chief points are that there xvill be no immediate need for Treasury loan operations as the note circulaton is normal, and the relations betxx-een the Government and the banks are satisfactory. There xvill be no stabilisation of the franc before the general elections, and no compulsory consolidation of the floating debt by means of a capital levy. ; M. Poincare slioxved himself strongly in favour of a further revalorisation, consequently stabilising at less than 125 francs to the pound, xvhich is generally considered as the probable rate. He emphasised that the process must be carried out xvith a minimum of injustice and danger. Even the present figure presented enormous difficulties. He expressed the opinion emphatically that the hour of legal stabilisation had not yet struck. When it did the Gox-ern-ment would submit a bill. The Premier’s statements caused a sensation on the Bourse, and a fall in prices, xvhich later rallied.—A. and N.Z. cable.

REPARATIONS AND WAR DEBTS

WASHINGTON, Feb. 4. Mr Kellogg expressed surprise at M. Briand’s statement that the question of reparations and xvar debts might be the subject of an international conference this year. He declared that no such suggestion had been made to the United States.-VA.. and N.Z. cable.