A LOTTERY LOAN.
BIG SCHEME IN FRANCE. REVENUE FOR THE STATE. By Telegraph.—Press Assn—Copyright. Received Oct. 30, 5.5 p.m. Paris, Oct. 29. M. Lefevre, a former Minister of War, in view of the serious financial situation, proposes an enormous lottery loan without interest. He suggests the issue of 120,000,000 bonds of 500 francs each without interest but redeemable in twenty years at a minimum price of 1000 francs each. The total cost of the scheme will be ten thousand million francs. It will thus furnish the State with fifty milliards of ready money, and the cost will be about 3 per cent., or the same as an ordinary unredeemable loan. M. Lefevre also proposes daily drawings during the first two years, a prize of 1250 thousand francs being drawn daily and other big prizes weekly. the prizes will be reduced in order to bring the bonds about par.—Aus.-N.Z. Cable Assn.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/TDN19211031.2.51
Bibliographic details
Taranaki Daily News, 31 October 1921, Page 5
Word Count
150A LOTTERY LOAN. Taranaki Daily News, 31 October 1921, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Taranaki Daily News. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in