SLUMP IN THE FRANC

Waikato Times, Volume 100, Issue 16817, 8 June 1926, Page 5

SLUMP IN THE FRANC

RESTRICTION OF IMPORTS RESORT TO RATIONING PROBABLE BUTCHERS AND BAKERS TO CLOSE Received June 8, 12.15 p.m. PARIS, June 7. A renewed slump In the franc is likely to lead to something like wartime rationing in Frnaco according to newspapers' interpretation of tho Government's decision to restrict imports in order to improve France's balance of payments. Tho journal says that bakers will be ordered to close th-eir shops once weekly, and butchers twice weekly. Bread cards may even be instituted, while means will be devised to prevent speculative purchase of crops In France by countries with a ndgh rate of exchange. The Matin says the plan to restrict consumption will probably affect wheat, flour, anthracite coal, potrol, and sugar, while certain public works may be suspended. A statement that tho Government contemplated using the> gold reserve of tho Banque de F'ranco to support the franc was promptly and officially denied, but tho newspapers declare that it is hoped to negotiate a loan with the American banks even If tho gold reserve of the Banque do France Is not employed as security, which was first considered.