The French franc, par value until a fortnight ago the most stable currency of the Continental Allies, has recovered from a dramatic dip towards bankruptcy and is now canvalescing at a stable value of 4.65ยข.
Cause of Decline. Using the military phraseology so appealing to Frenchmen, Premier Poincare, backed by diplomatic despatches and official documents, declared that the cause of the fall of the franc was a German "offensive," operating from Amsterdam. Poincare asserted that German business houses, using 13 billions of French notes held outside of France as "a means of maneuver," had...
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