DRAMATIC DECLINE
VALUE OF FRENCH FRANC i STEADY DRAIN ON GOLD. POSITION STILL SOUND. (United Press Association—By Electric Telegraph.»~Copyrlgh t) (Received 9 a.m.) LONDON, February 6, The city editor of the “Daily Telegraph’? says that dealers in exchange experienced a frenzied flight from the franc yesterday. The climax came when the rate touched SOI francs to the pound. The nervousness can bo traced to dollar pressure and the French political complications. A report from Paris that France contemplates raising the selling price of gold is denied. Such a step would be in direct opposition to her policy. There are no signs of any real anxiety in France. The steady drain of "gold holdings is fully expected. The Paris financial newspaper “L’lnformation” says the Bank of France will be able to lose a. further £30,000,000 to £00,000,000 without weakening the position of paper money.
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Northern Advocate, 7 February 1934, Page 7
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143DRAMATIC DECLINE Northern Advocate, 7 February 1934, Page 7
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