FINANCING THE WAR
GENERAL FRANCO’S METHOD BRITISH FIRMS FORCED TO SlirrLY STERLING PAPER PESETAS IN EXCHANGE [Unite 1 Press Association—B.v Electrio Telegraph—Copyright] LONDON, 18th January. “During 1937 the British-owned Riotinto copper and iron pyrites mines were compelled to hand £1,250,000 to General Franco’s Government in exchange for paper pesetas at 42 to £l, Franco’s officials having refused permits to ship unless sterling was deposited equivalent in value to the pro-
ducts,” says “The Times.” “This is one of Franco’s principal methods of financing the war,” adds “The Times.” “If Franco can continue to force British companies to supply the necessary sterling for foreign credits, he will continue bartering with Italy and Germany to the mutual benefit of all three.”
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Nelson Evening Mail, Volume LXXI, 19 January 1938, Page 7
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119FINANCING THE WAR Nelson Evening Mail, Volume LXXI, 19 January 1938, Page 7
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