Jags, I've always kept money in the same place in my wallet either in a v secure pocket (usually my cycle shorts) or in the handlebar bag which of course should always be removed if your not on your bike.
In all the cycle touring (10 tours in UK, Spain, France, Cuba) I've ever done I've never felt threatened in terms of safety. If you make not losing your wallet one of the primary objectives of your trip (which I do), it's a near certainty you won't lose it. Unless you plan cycling around major cities at night time, you are more likely to have your hotel room broken into, your bike or stuff nicked from your tent, none of which I've had the misfortune to experience. If you happen to be wandering dodgy city districts at night, then probably it probably is worth stashing some in your shoe but there's absolutely nothing to worry about in the towns and countryside of France.
If you're completely adverse to using cash machines (they all display english instructions when you insert your card, average exchange rate, take standard precautions, unlikely to be tampered with in rural non-tourist areas) why not travellers cheques? If you do lose your wallet, at least you'll have a receipt to make a claim and get a fast cash replacement which is the whole point of them!
Out of interest, have you decided where you're going?