Word: clementel
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Dates: during 1920-1929
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Before Senate and Chamber of Deputies was laid by Finance Minister Clementel the national balance sheet of France. With the exception of countries which have declared themselves bankrupt, this is perhaps the first time that a Nation has voluntarily struck a balance sheet...
...there was floated a loan to France of $100,000,000 by J. P. Morgan & Co., the First National Bank (Manhattan) and Messrs. Brown Brothers & Co.* According to M. Etienne Clementel, French Minister of Finance, the money is to be applied "to the reduction of the Government's indebtedness to the Bank of France, which will hold and use the proceeds as it may deem wise for the protection and stabilization of the franc. The Government's indebtedness to the Bank has already been materially reduced since the peak of such borrowings, reached...
...Etienne Clementel, Minister of Finance and le Senateur de Puy-de-Dome, presented to the Finance Committee of the Chamber of Deputies the budget for 1925. A feature of the new proposals is the retention of Premier Poincare's hated 20% tax increase (TIME, Jan. 28). No loan was suggested, although it had been widely circulated that one would be asked...
...speech to the Committee, M. Clementel said...