FRANCE: Finance by Lottery

So tight and hard to borrow were francs last week that knife-faced Finance Minister Georges Bonnet was driven to a bold expedient to pry them loose.

On July 4 he had offered a two billion-franc issue of French Treasury bonds, saying that to sell them would be easy. Last week these bonds were still being advertised. The issue, instead of having been snapped up, seemed almost a failure. M. Bonnet, who had talked of offering three billion francs of additional bonds next autumn, suddenly went into a fiscal huddle with the whole French...

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