Norwich bulletin., 1919-12-30

the invasion was oversubscribed be-
 fore the official opening of the sub scrtptlons. Important banks and in
 duStrlal companies have lately in creased their capital to an aggregate of nearly oO0o,O0o,OO0 francs.
 Transactions on the Paris bourse which still are confined to cash deals
 have exceeded on certain days records
 or pre-war trading when futures en- tered largely into the totals. The up-
 ward movement of all industriaIs. winch began before the signature of the treaty at Versailles, has been un- checked by successive Iiouidations This is regarded by keen observers here as sure sign of economic recov- cry.
 Employers say the labor situation is improved and that the last strikes de- Veloped symptoms that the workers themselves were becoming weary of long continued disturbances of busi- ness industry and transportation. They see tendency against frivolous strikes and an indication that on1v
 real grievance will induce the wage earners to quit work hereafter.
 Decentralization of capital and i'm dustry is seen in the establishing in Normandy of textile industries to re- place those in the occupied territory destroyed by the war. This movement has been greatly extended by deyeIon- ment of waterpower in the region of the Alps and the Center and south of
 France. Industrial leaders say that no particular region of France hereafter will monopoliZe any industry and de- clare thaV this scattering will prove beneficial and result in more eouable
 recovery of all parts of the country, Powerful financial groups are at the l head Of a movement to transfer inn | portant industries from the coal re- | glon to southeastern France where l waterpower soon will be available 1 Other groups are being formed to de- veiop manufacturing centers near the coast so as to reduce the cost of trans porting raw materials. Industrial | leaders say that this Activity on the part of capital, supported by the re- l covery of labor from what has been 1 characterized as a wave af "laziness. ' 1 gives a healthy tone to the situation, 1 Instability of the exchange value of l the franc is regarded as one of the weakest points in F'rcTph conditions It is pointed out that France cannot pay twice over at present high prices for supplies she needs and that is | what the present low value of the franc means. The French government |
 of her financial policy with a view tc making such provisions to meet her obligations as will give greatest sta bility both at home and abroad
 Details of the new financial policy are as vet not disclosed. but it is un
 derstood that 1t, comprises. firstly. [ large interior loan to take, LID al short t-ter1n bonds and floating debt; and. secondly, important increases ir ton . vA fp hrSr f11o r.
 the annual budget estimated to require 10000 o00.o to 25,0oo. 100000 francs
 It is mo texpected that any interna
 financial arrangement can exert more I than a moral influence on the value O
 the franc abroad, and this may be sait I to be the object of the greatest anxiet! l! in official circles.
 {. The building trades do not show anl
 disposition to undertake importan work while obliged to pay three tipe' the normal prices for materials. Tn,
 result is that reconstruction work il