Addressing foreign news correspondents, the Finance Minister, M. Paul Reynaud, declared today that his economic and financial scheme for national recovery "scrupulously respects the Tripartite Monetary Agreement."
"My policy is essentially base on monetary freedom, freedom of trade and freedom of foreign exchange. which are the main points of the Tripartite Agreement.
Any step likely to bring closer together the three democracies will be considered by France as a happy development."
The Finance Minister specified that there will be Frs. 30 milliards profit resulting from the reevaiuation of the gold holdings of the Bank of France, This sum will in its entirety he devoted to the amortization of the Tank's advances to the State.
The Exchange Equalization Fund and the special fund supporting Gm ernment bonds will soon become useless and that their capital will then be utilized in settling the Ge ernment's debt to the Bank. With these points settled, the Bank's situation will be completely in order.
M. Reynaud concluded in expressing ihe conviction that his financial policy will determine the repatriation of French capital and will strengthen the Paris Bourse, present low prices on which are a great attraction to both French and foreign investments. His policy will also lead to a general economic recovery, extending as it will for several years, the Finance Minister closed.—Havas.
Text read from the printed page and cleaned; old type leaves the occasional error.