Paris, Dec. 30.
The Bank of France has reduced its discount rate from five to four per cent, The press, commenting on the reduction, remarks that it is lower than that obtaining in all the great countries with the exception of the United States.
'The "Journée Industrielle" says that the reduction shows that' financial conditions in Franco sre sound. It was evidently Cttested, the paper adds, by. the exceptional abundance of capital on the Paris money market, "L'Echo de Paris" observes that the reduction will enable the Bank of France again to take control of the discount rate, which for some time has been diverted from the bank.
Jan, 3, Provisional returns show that up to December 15 revenue exceeded expenditure by 6,125,000, The Government has introduced legislation with a view to the abo! tion of the import daty on gold imports, whether in specie or bullion it considers it indispensable that the gold market should be re-established.
The sole consequence of exempt tion of this duty would probably be to enable the Bank of France to exercise the necessary control over the money market.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.