FINANCE FOR FRANCE
A SERIOUS NEED. ENORMOUS LOTTERY PROPOSED. Australian and N.Z. Cable Association. (Received October 30, 5.5 p.m.) SARIS, October 29. General Lefevre, a former Minister for War, in view of the serious financial situation, proposes an enormous lottery loan without interest, and suggests the issue of 120,000,000 bonds of 500 francs each, without interest, but redeemable in twenty years at a mini, mum price of 1000 francs each. The total cost of the scheme will be ten thousand million francs, and it would thus furnish the State with fifty milliards of ready money. The cost would be about 3 per cent., or the same as ordinary unredeemable loan. General Lefevre also proposes daily drawings during the first two yearn, a prize of 1,230,000 francs being drawn daily, and other big prises weekly. The later prises will be reduced in order to bring the bonds to about .par.
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Bibliographic details
New Zealand Times, Volume XLVIII, Issue 11045, 31 October 1921, Page 6
Word Count
149FINANCE FOR FRANCE New Zealand Times, Volume XLVIII, Issue 11045, 31 October 1921, Page 6
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