Word: clementel
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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...
...Finance Minister made it clear that France expected to have the total of the debts cut; and he made evident the fact that the Nation would not be able to start repayments on account of them until Germany had paid considerable sums on account of reparations. Le Senateur Clementel also added that a reduction of France's debt to Britain was soon expected under terms which Chancellor of the Exchequer Winston S. Churchill recently renewed...
...support of this argument, M. Clementel argues that the Allies- France, Italy, Belgium, Britain...
...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...
...speech to the Committee, M. Clementel said...