Word: caillaux
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...state in your letter that you have reason to believe that Secretary Mellon and M. Caillaux could have reached a settlement had it not been that they feared the disapproval of the legislative bodies of their respective countries. It is evident, Mr. Piez, that you do not know Mr. Mellon. I venture to say that Mr. Mellon would never be embarrassed in doing what he thought was the wise thing simply because somebody else might disapprove it. If he thought he was doing the right thing and the wise thing, he would do it and let responsibility for rejecting...
Questions of financial policy loomed last week as the annual convention of the Radical-Socialist party opened at Nice. Before the convention appeared M. Herriot, Radical standard bearer, to insist that France can balance her budget only by a direct levy on capital. Likewise appeared M. Caillaux, Finance Minister, to plead for the powerful support of the convention, in order that he might be given one more chance to balance his budget by "orthodox" means...
Came "Wizard Caillaux," as the Painlevé Government steppd up to power, and attempted to work many miracles which have failed. His internal 4% gold loan which was to have absorbed the great weight of defense bonds and brought relief to the Treasury has not achieved adequate flotation. The Moroccan War and M. Caillaux's uncertain U. S. debt settlement have further contributed to send the franc tumbling down to 22 to the dollar, and have caused Caillaux himself to admit that the Bank of France can see its way clear to facing its present obligations without inflation...
Despite such a record, super-optimist Caillaux blandly informed the conference at Nice that he had more schemes up his sleeve for converting or consolidating France's internal debts and juggling with her allied obligations. He declared that he could not "divulge" his plans, vowed that Germany had tried a capital levy three times unsuccessfully, swore that he would resign rather than introduce it, and apparently expected the conference to express confidence in his famed "Wizardry," now wearing rather thin. The upshot of the matter was that M. Herriot, after imploring M. Caillaux tearfully to throw...
...capital." This phrase, is interpreted as urging that interest payments be suspended on all French Government securities and the sums thus realized used to recoup France financially. It is thought that a levy on interest may succeed as being more "orthodox" than one on capital. For the moment M. Caillaux has pledged himself to the measure "as a member of the Radical Party, though not necessarily as Finance Minister." He appears to have kept the conference from jumping on his neck and that of the shaky Painlevé Government without actually committing himself to anything very definitely...