Foreign News: Stuffing Stockings

For ten years the right to export capital and invest it abroad has been denied to Frenchmen by the law of April 3, 1918. Evasions, numerous, have always been severely punished when detected. Last week this intolerable, emergency damaging of the flow of capital was ended by plump, jovial President Gaston Doumergue who signed a decree lifting the capital embargo.

Two factors made prudent and possible the act of M. le President: 1) The Bank of France now holds sufficient gold or foreign securities to redeem every centime of the national paper currency,...