A LARGE ORDER

Waihi Daily Telegraph, Volume XXXVII, Issue 9211, 23 April 1938, Page 3

A LARGE ORDER

—♦ FRANCE SEEKS LOAN FROM BRITAIN SOLVING THE CRISIS. DRASTIC PURGE OF ALIENS. Australian and N.2 Cable. PARIS, April 21. Rumours are current in financial circles that France is seeking a loan of £312.000,000, mostly from Britain. It is suggested that it is required to purchase raw materials, mainly copper, tin, oil, lead and cotton, and also lorries and aeroplanes. After reviewing the present situation in France, the Cabinet, contrary to expectations, has not issued any decrees. Financial circles are relieved that the Government refuses ito be stampeded. Nevertheless, thev feel the crisis cannot be solved by standing still. Prices on the Bourse have sagged. It is understood that M. Marchandeau, Minister of Finance, told the Cabinet that recent events on the Bourse and foreign exchange market, had eased the position of the Treasury. It was not necessary, therefore, to extend the limit of Treasury borrowing from the Bank of France. The Cabinet has decided upon a drastic purge of undesirable aliens and upon stricter control of the frontiers. ..