Bonks Assisting French Deflation
(Rec. 2 p.m.) PARIS. Jan. 9. The Bank of France took a hand in the deflationary policy ef M. Blum’s Cabinet by raising the discount rate from 1 g per cent to lj ! per cent, thus raising the price of credit. The bank also created a new and second discount rate at 2', per cent for commercial bills other than those representing sales. Authorities hope by these steps to encourage traders to disgorge their stocks.
The Ministry of Finance has requested the banks to restrict credits in general.
Communists have announced they are opposing any reconstructions of M. Blum's Socialist Government which will formally resign on January 14, A Communist communique attacked “the reactionary movement to ( keep Communists out of the Government and prepare a slide to the Right." Victoria Valley Gift Afternoon (Special) KAXTAIA. This Day. The Memorial Hall, Victoria Valley, was the scene ot a large and happy gathering when the Valley '.adies gave a delightful kitchen afternoon to Miss Tui Dawson, who is to tie married next Saturday io Mr Claude Ruddell. On behalf of those present Miss Velma Peterson presented the guest with a beautiful bouquet of sweet peas, asking her to accept and open the many presents.
Miss Dawson thanked one and all for their generous gesture. Afternoon tea was served to end an enjoyable function.
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Northern Advocate, 10 January 1947, Page 3
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225Bonks Assisting French Deflation Northern Advocate, 10 January 1947, Page 3
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