No Better Proof

In mid-November, Britain and France agreed to hold hands economically as long as the war lasts. Last week, just to make sure, they joined themselves with silver handcuffs. The earlier agreement was to cooperate in the general fields of munitions, raw materials, economic warfare, oil, food, shipping. Last week's agreement covered the commodity which controls all those fields--money.

Main points: 1) currencies will be permanently stabilized at the going rate of 176 1/2 francs to the pound; 2) thus France can continue to buy commodities in the sterling area with francs at a reasonable rate, Britain can supply her expeditionary force in France with pounds; 3) neither country will raise foreign loans without consultation; 4) both will collaborate on internal price policies. The accords were entirely unprecedented. In World War I, which was virtually decided by the economic factor, the two countries had nothing but a common grain agreement and, in the last months, transport and food councils. Said suave French Finance Minister Paul Reynaud: "No better proof than this economic and financial accord could be found of the common will to carry this fight to a finish. It has been inspired by the same spirit that made possible unity of command for the military forces."

P: Allied labor also banded. In the elegant Paris headquarters of Confederation Generale du Travail, C. G. T.'s Secretary General Leon Jouhaux played host to Sir Walter Citrine, since 1926 Secretary General of the British Trades Union Congress, in the first of a series of monthly conferences on the two countries' labor problems. Last week the problems seemed to be all on the French side. Leader Jouhaux complained that his followers, theoretically on a 40-hour week, work 72. Though he claims nearly 1,000,000 members, he is allowed no representation in war ministries (as T. U. C. is in Britain). Strikes for wage increases, still permitted in Britain, are jail offenses in France. Last week's conference, besides airing these grievances, discussed ways & means of further rallying Allied labor behind Allied warfare; possibly exchanging groups of laborers between countries.

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