Francs

Rush To Sell

French Surrender Causes Chaos in New Hebrides

From a Special Correspondent THE reaction of the New Hebrides to the capitulation of France was instantaneous and disastrous. The French currency and the copra industry, on which the prosperity of the Group depended, have both been strangled.

The franc reeled, and left Australian money in complete possession of the field. Residents in the New Hebrides, French, British and native, in possession of francs, made a frantic rush to dispose of them in exchange for goods and Aus tralian money; but nobody would accept them.

Nearly all the copra that left the Group went to Marseilles. The surren der of France brought the trade and traffic to a complete standstill. The inter-island British steamer, “Mirani”, which provided a six-weekly service, was chartered by the S.C.F. (a French company formed by Messrs, Burns, Philp to facilitate business operations in the New Hebrides). The S.C.F. store in Vila has closed, and the “Mirani” has dis continued her service. Settlers in out lying islands are already out of stores.