EXCHANGE IN PARIS.

Taranaki Daily News, 3 February 1923, Page 5

EXCHANGE IN PARIS.

RECORD LOW FIGURES. By Telegraph.—Press Assn.—Copyright. Paris, Jan. 31 The sterling exchange has reached the record low level of 78.53. Newspapers are loudly complaining against this new turn of the screw by foreigners, and insist it is mainly due to speculation. The Liberte says:' “The trade balance has never been better, and the revenue is buoyant. Government and Parliament are successfully co-ordina-ting i.n their efforts to balance the Budget. Apart from devastation, economically and internationally Britain’s position is more alarming than ours, owing to the unemployment and Irish questions and the threats to peace in the Near East. It suggests the fall is partly attributable to French purchases of British coal, which will pass when the Ruhr provides our needs. The fall indicates that foreign financiers are attempting to bring pressure against our policy. With doggedness we will beat the Bodies of the Ruhr.”