FRENCH BUDGET BALANCED
FINANCIAL POLICY OUTLINED IMPORTANT STATEMENT BY MINISTER United Press Association —By Electric Telegraph—Copyright (Received September 16, 6.30 p.m.) PARIS, September 15. M. Jermain Martin, French Finance Minister, announces a balanced Budget for 1935. The estimated result is:— Francs. Receipts 47,022,000,000 Expenditure 45,984,000,000 Basis of Policy The Minister adds that the Budget has been balanced without new taxes or fresh sacrifices from civil servants and'ex-soldiers. The Government emphatically' rejects the devaluation of the franc, which would compromise the recovery of the financial market, and cause higher prices. The preamble to the Budget condemns tariff barriers as leading to material ruin and the progressive disappearance of civilisation. "We are persuaded,” adds the Minister’s statement, “that European nations, also the world generally, will soon be convinced that a stable currency based on gold constitutes the sole basis of exchange, and there wiil soon be a return to normality.” The fact that France has signed twenty-three trade agreements in the past year is a hopeful sign.
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Bibliographic details
Timaru Herald, Volume CXXXVIII, Issue 19906, 17 September 1934, Page 7
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165FRENCH BUDGET BALANCED Timaru Herald, Volume CXXXVIII, Issue 19906, 17 September 1934, Page 7
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