FRENCH DEFENCE PLAN

Taranaki Central Press, Volume IV, Issue 384, 16 March 1937, Page 5

FRENCH DEFENCE PLAN

HUGE EXPENDITURE.

SECOND PORTION OF LOAN Broadcast Appeal for Support Press Association—Copyright. (Received 11.0 a.m.) Paris, March ’IF. M. Daladier today broadcast an appeal to support the second portion of the Defence Loan, which he issued on March 16. M. Daladier Baid that £100,000.000 would be spent on defence before December, comprising 46 per cent, in the Army, 28 per cent on the Navy, and 26 per cent, on the Air Force. The success of the first part of the loan is hailed Jubilantly in Paris. The newspaper Le Jour says the result proves that the- reserves of credit and money owned by the French people are incomparably strong. The loan is being issued at £9B, with 41 per cent interest. It will be redeemed in 60 years. Bonds may be redeemed by annual drawings or by purchases on the Bourse.

A decree announces the expropriation for the use of the State as arms-ms-nt workshops of the plant of the Schneider Company, the largest armament factory in France.