Word: flandin
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...Paris Bourse it was grand news. Rumors of mild inflation rippled on smiling lips. Speculators grinned as shares bulged, then moderately boomed. France was getting action at last from her new Premier, the youngest in French history, M. Pierre Etienne Flandin, 45, called Le Gratte-Ciel ("The Skyscraper") because he stands 6-ft.-6 in his socks and sticks up in French politics as something distressingly modern...
...Premier Flandin who kicked Governor Moret upstairs. The majority of the stockholders of the Bank of France, more than half of whom own only one or two shares, have almost no authority, almost no function except to receive dividends. They receive a yearly dividend of some 300 francs on their 1,000 franc par shares which sell on the Bourse for some 10,000 francs. To the heirs of Frenchmen who bought a share at par and tucked it away in the family stocking when Napoleon I founded the Bank of France, the return on investment is thus...
Specifically old Governor Moret was dropped last week because he rejected a proposal by Premier Flandin to give business a shot in the arm. The proposal let the Bank of France announce that it will re-discount short-term Treasury bonds, issuing new currency or opening deposit accounts against the paper received. Since this operation in effect reduces the gold cover behind French money (now 80,1390 it tends to be inflationary. To M. Flandin's proposal M. Moret had but one answer, a quiet "mais non." Last week there was every indication that M. Tannery will...
Neither Premier Flandin nor Finance Minister Louis Germain-Martin and least of all new Governor Tannery of the Bank of France would admit for one moment that they are "doing a Roosevelt" or anything, remotely like it. For the present
...Flandin is one week older than Herr Hitler...