The Daily Alaska empire., 1936-10-23

rTencn GOvernment, With the Sym- pathetic support of Great Britain and the United States, is held by 83 per cent of commenting newspapers to carry a promise of readjustment of world trade, with strong prospect of general currency stabilization. Tn the Judgment of IT per cent of the press, it is objectionable because it IS a step toward imitation, is an abandonment of gold in the mone- tary world, and causes loss for French citizens.
 Majority sentiment on the French currency change gives credit to the government of that country because It IS definite step in the direction of international action to remove currency difficulties. It is confi- dently predicted by many of these editors that because three nations are prepared to cooperate, the spirit involved will lead to better foreign trade conditions.
 Whatever may be it's immediate repercussions," declares the Wall Street Journal Gnd.), "it must be regarded as really constructive de- velopment, the effects of which, so lar as they go, cannot but be. good. That it meets with the approval and has the sympathetic support of Great Britain and the United States enhances its importance. The first step toward the desired goal of in ternational currency stabilization has been taken, and even if the road to that goal is long and diffi- cult 1t is a great thing to have made the start"
 Issues Behind the Scene
 The real significance" explains the Indianapolis News (Rep), "ls much deeper than the mere accom- modation of the franc to the reduc- tions made since 1881 by most other leading countries. The French elec- ton this year swung the country far to the left. It reflected popular dis satisfaction with French business under the gold standard.
 The new government is radical, probably nearly Communistic if forced to take stand. It national lzed the Bank of France, taking it's control from the stockholders who have supported an able management since the time of Napoleon. This move drove capital from France.
 "The thrifty Frenchman who could manage to send his money abroad, either as gold or investments, has been doing so. This resulted in a drain on the gold supply that made the present policy imperative. Un- doubtedly the United States Ad- ministration and the British gov- ernment were influenced to cooper ate by a desire to stay the radical movement in France"
 Tt is an important contribution to world currency stability and the rebuilding of international trade" thinks the Kansas City Star Gnd).
 'The leading nations seem willing now to shake off some of the bonds of fear and economic jealously,' ,' states the c ha nooga Times (Dem).
 Tt is hailed as a move toward international stabilization of cur rencies, tending to promote world trade and prevent war;" says the Bloomington GID Pantagraph UnO.
 "The internal situation in France the next few weeks" according to the Newark Evening News Gnd.) may develop peril for the Blum Ministry. It will call for delicate handling, but every possible pro- vision appears to have been taken to cushion the retaliations that too rapid rise in the cost of living would occasion. :"
 Stabilization Prospects
 The prospect of Stabilization is recognized by the Kalamazoo Gag cite (Rep), the McKeesport CPa.> News Und), the Cincinnati Times Star CRep0, the Providence Bulle- tin Oem), and the Asheville Times Dem).
 If the currencies of the three great democracies can be kept into line with each other, much good will follow" maintains the Will mington (Del), News (Ind), while the Macon Telegraph Oem.), holds that the action may mark the be- ginning of a healthier period in international trade"
 Tn theory" according to the Grand Rapids Press (Rep), "a cheaper currency would let France sell more abroad and buy less. French economy differs, however, from that of most nations, in that the greater part of her exports are luxury goods not usually based upon a narrow price range. Her indus tries need raw materials, which a gold currency can more oheaply purchase.
 "A devaluation of the franc can hardly be such momentous oc- casion as that dramatic instance five years ago when the English pound was taken off the gold stand ard. And its effect upon the world will hardly be as great"
 "The nations which have either