FRANCE: Franc Up

The franc teetered sickeningly last week, plunged from 31½% to the dollar to 35 1/3, steadied, gathered strength, skyrocketed to 30¾%. Though explanations were many, two facts stood out sharply. Just before the franc's toboggan, Finance Minister Peret was obliged to announce that pourparlers for definitely funding the Franco-British debt had broken down between himself and Chancellor Winston Churchill of the British Exchequer at London. Conversely, the franc rose as soon as the French Cabinet and the Bank of France announced, after M. Peret's return...

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