Foiled

Upon his return from Europe for a "business visit" last week Monsieur Jean Monnet, onetime wealthy French industrialist (brandy), present Manhattan banking house partner (Blair & Co.) astonished Wall Streeters by explaining through the Manhattan press that his Motherland will henceforth lend money instead of borrowing. An outlet for France's surplus funds must be found, said Banker Monnet, former Deputy Secretary General of the League of Nations. But no "rivalry" with the U. S. will result, he soothed. Co-operation in international finance, U. S., England, France, hand in hand, will be the motto. Usurers sighed or cursed. France had kept them waiting many years. The bars against loans to France were down at last. And at long last France had money to loan. French bonds rose to a new record price.