The Archive · 1938

French Gold Flows Back from Abroad

Remarkable Results of New Financial Decrees Win Deputies' Approval

Paris, Nov. 23.

Following the publication of the new decree laws, a notable return of capital has been recorded, declared M. Paul Reynaud, French Finance Minister, in a three-hour address to the Finance Committee of the Chamber yesterday.

Since the beginning of the month, he said, gold worth Frs.1,500,000,000 has been returned and subscriptions Yo "Treasury Bonds totalled about twenty milliard francs compared with eight milliard of only a few weeks ago.

This influx of subscriptions, statea the Finance Minister, has enabled the rate of interest to be lowered.

M. Reynaud declared he was very satisfied with the situation and added that the 1939 budget would be balanced at Frs. 66,500,000,000—

Reuter.

Text read from the printed page and cleaned; old type leaves the occasional error.

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