FRANCE: Back on Bullion

Triumphantly passed by the Chamber, 450 to 22 and by the Senate 256 to 3 last week, was a bill, fixing the value of one paper franc at 65.5 milligrams of gold, 900/1,000ths fine.

Persons without milligrams of gold, but prepared to offer dollars, will now receive 25 francs, 52 centimes—no more, no less—for every dollar that they care to sell.

Thus, Prime Minister Raymond Poincare, the great War President of France, puts the last cap on a monumental achievement. When he took office 23 months ago, the franc had lost 9/10 of its...

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