FINANCE IN FRANCE.

Waimate Daily Advertiser, Volume XXIV, 24 March 1924, Page 1

FINANCE IN FRANCE.

Per Press Association—-Copyright. LONDON, March 21. The “Daily Express” says a sensation has been caused in financial circles owing to the Paris banks treatment of English banks of the highest reputation. The latter maintain accounts with I the former, which sometimes are overdrawn. Ordinarily the French banks simply charged interest thereupon, tut allowed the operation of accounts to continue. The French Government in order to support the franc stipulated that the French banks must not allow overdrafts on foreigners accounts, even including English banks accounts. This is causing the British banks and their clients much inconvenience. NEW YORK, March 22. j Senator Shipstead of Minnesota, addressing the Senate, bitterly eriti- , cised the State Department for its.-; .. failure to inform the Senate of the French loan. Senator Shipstead said ft would seem a public duty for . the State Department to keep the Senate informed regarding relations with other countries, bemuse sooner or later financial matters would become political, and financial entanglements become political entanglements. Shall America through her bankers’ loans be again drawn I into the maelstrom of destruction. Shall we be again drafted into the game of selfishness and greed, that will multiply poverty, disease, misery, debts, taxes and death among the white race? I