FRANCE: Record Fall

Two years ago, U. S. students at Paris celebrated with notable champagne-bibbing the fact that they could get, roughly, 29 francs for a dollar—and a drinkable quart of champagne for the 29 francs. That was the greatest number of francs ever* exchangeable for a dollar in the history of the world. Then the firm of Morgan loaned the French Government $100,000,000; and one could get only some 14 francs for the dollar. Last spring the franc began to slip badly again. Last week the American Express Co.,...

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