To Guard The Value
p. 120 · Read in the full issue
Of Pacific Franc
From Our Own Correspondent
Noumea, Dec. 10.
ON the initiative of M. Leno mand, the newly elect Deputy for New Caledonia, Committee has been set up in Pai ‘ For the Defence of the Pacil Franc.”
The sittings of the Committ will be attended by all the repr sentatives of New 1 Caledon (Messrs. Bichon, Lafleur ai Lenormand) and by representativ of commercial and profession interests in the Territory.
The task of the Committee is interpret the wishes of the Frem Pacific Territories, and to watch tl policy of the Government and coi test any move likely to lower tl present rate of exchange. (At present, the Pacific franc the most valuable of the francs us( in the French Union. £1 stg. worth 187.37 Pacific francs; Aust., 141.75; $l, American, 6 Generally, the Pacific franc is ft times more valuable, in inte national exchange, than the Metr< politan franc.)