Serious inflation is being prevented by rather stringent price control. This is possible now because French economy at this time is entirely an interior economy. Bank deposits are way up because of free-handed German spending and because hoarders, fearful their money will dwindle away to worthlessness have brought their holdings out of hiding.
Because there are few goods left to buy and securities are scarce, there has been a sharp rise on the stock market, the general average of securities going up 20 per cent. from the first of the year to March 1. Land prices have jumped. No one wants to hold his francs, but finding places to invest them is difficult, Here are comparative prices of some leading French and international shares quoted on the Bourse at Lyons, the first figure being the price of the stock April 1940, the last figure being the price quoted for the same stock February 19, 1941:—Bank of Paris, Fr. 1063 against Fr. 1469; Credit Lyonnais Fr. 1,710 against Fr. 2/40; Suez, Fr. 16,160 against 19,500 Eaux Lyonnaises, Fr. 1,292 against Fr. 3290: Canadian Pacific, Fr. 320 against Fr. 530; Rio Tinto, Fr. 2,920 against Fr. 3,850; Royal Dutch, Fr. 5,100 against Fr. 8250.
Text read from the printed page and cleaned; old type leaves the occasional error.