HARD TIMES IN FRANCE.

Timaru Herald, Volume CXXIII, 29 December 1926, Page 9

HARD TIMES IN FRANCE.

Due to Currency Recovery.

COLD WEATHER, AND UNEMPLOYMENT. By Cable —Press Association —Copyright. Australian and N.Z. Cablo Association. (Received Dec. 28, 5,5 p.m.) PARIS, December 27. Tho prevailing haa'd times, due to the over-rapid recovery of the franc, took much joy out of the Christmas festivities. Most Parisians wore unable to afford the restaurants’ high prices, and feasted at home. Cold Snap. An unusually cold snap was experienced. The Loire was frozen for the first timo 6inco the war. Several deatlis occurred from cold in th© Loire Valley. Depression in Industry. A wave of unemployment is beginning to be serious. French manufacturers of many lines are unable xo meet foreign competition. The wool factories at Roubaix and Aourcoing are working short time. A single mill dismissed one thousand employees.

Two thousand five hundred shoemakers, and a thousand lacemakers are idle.

STABILISING THE FRANC. OPERATIONS OF BANK OF FRANCE. By Cable—Press Association—Copyright. Australian and N.Z. Cable Association. Dec. 28, 6.55 p.m.') PARIS, Dec. 27. The newspapers give prominence i*. the fact that the Bank of France is equally willing to buy or sell an unlimited amount of sterling, at 122 i francs to the £. This is interpreted to mean that the Government is preparing legal stabilization at this figure. This js not true, but the Government is anxious to prevent speculation forcing francs above 120 to the £, as being detrimental to trade.