Foreign News: Transatlantic Upping

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In the "real money" of European nations, transatlantic liner fares have been cut, cut and cut again every few days since President Roosevelt took office. Such fares are based on dollar prices which have not been changed as the dollar has been debased in the international market. Thus a Frenchman could buy for only 3,447 francs last week a First Class passage on the Ile de France which would have cost him last year 5,436 francs.

In London last week the North Atlantic Passenger Conference of all major lines met and hotly debated what to do about a situation which has slashed their operating revenues.

They dared not up rates as much as the dollar has been debased (37%), since U. S. citizens still buy most of the transatlantic tickets sold. After two days of bickering the Conference decreed an approximate 10% upping of the rates of all lines in all classes, effective on sailings after Jan. 1, 1934. Exact rates will be published just before Christmas, will vary from the uniform 10% increase only in the case of First Class on old small steamers which will be priced down to sell on a par with the upped rate of Cabin Class.