FRANCE: Worried

Jean Frenchman rushed to his favorite wine merchant, to his tobacconist, to his butcher, baker, candlestick maker. Hastily, he laid in a supply of articles about to become vastly more expensive. Then, clutching his remaining franc notes, he sought out the sellers of foreign bonds and securities.

The cause of this "buying panic"—which did not assume dangerous proportions—was twofold: 1) Finance Minister Loucheur had just presented the Chamber with the first draft of a new tax bill expected to raise eight billion additional francs per annum, by increasing the taxes on alcohol,...

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