HARASSING OTHER MARKETS.
The French authorities seem now, however, bent upon trying to arrest the purchases of the franc, not by adopting sound measures in their own country, but by making foreign Money Markets, and notably London, so stringent as to arrest purchases of the franc. Already more than £3,000,000 of gold has been taken from the Bank of England by the Bank of France, and if the movements were to continue we should experience all the ineonveniences arising from a higher Bank Rate. Not, be it observed, to serve any useful end such as creating more stable financial conditions in France or other parts of Europe, but simply to enable the French authorities to postpone km a while longer an operation long over-due. So far as the more speculative sections of the Stock Markets are concerned, prices are likely enough to move independently of the developments I have referred to, but so long as there is uncertainty as to whether gold purchases for France may go to the length of occasioning a rise in our Bank Rate, business Hi leading investment stocks is likely to remain at a standstill.
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