Foreign News: No Better Proof

In mid-November, Britain and France agreed to hold hands economically as long as the war lasts. Last week, just to make sure, they joined themselves with silver handcuffs. The earlier agreement was to cooperate in the general fields of munitions, raw materials, economic warfare, oil, food, shipping. Last week's agreement covered the commodity which controls all those fields—money.

Main points: 1) currencies will be permanently stabilized at the going rate of 176½ francs to the pound; 2) thus France can continue to buy commodities in the sterling area with francs at a reasonable rate,...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!