Word: flandin
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Thus pressure on the franc last week was "psychological, not actual," in the opinion of foreign exchange experts. They pointed to the success of new Premier Flandin in winning huge votes of confidence from Chamber and Senate on a program of rock-ribbed gold standardism (seep. 21). The gold cover behind French currency stood at over 80%. Even so, psychological pressure was great. After-effects of the French crisis fortnight ago kept the currencies of four gold bloc countries (France, Belgium, Netherlands, Switzerland) fractionally below the gold export point all week. President Roosevelt, by relaxing completely the lax treasury restrictions...
Work done last week as the new Cabinet of tall, mighty-muscled, 220-lb. Premier Pierre Etienne Flandin got down to business...
...largest majority any French Cabinet has received in years, Premier Flandin was upheld in the Chamber 423-to-118, received a vote of approval by the Senate so overwhelming that it was not even counted. France, as M. Flandin remarked, thus began "the last experiment in parliamentary democracy." If it fails, he warned, the alternative is Dictatorship...
When that fanatical gold standardist, M. Louis Germain-Martin, agreed to stay on as Finance Minister, government bonds and the franc upped again. The rest of M. Flandin's new Cabinet was composed largely of other holdovers from the Doumergue Cabinet, but he was able to spring one major surprise-Georges Mandel...
...greatest henchman, the lynx who did the Tiger's undercover work, much of it dirty. That Georges Mandel accepted last week the obscure post of Minister of Communications was characteristic. Any other portfolio would have suited him as well. With Georges Mandel working for Pierre Etienné Flandin, dopesters conceded him a safe majority when Parliament meets this week. His program, crisp-sounding but sufficiently vague, struck a note of concentration upon economic issues, a note of youth in France, where aged statesmen love to play that politics is pure politics-to them, an art. Said Premier Flandin...