Word: franc
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Dates: during 1920-1929
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...excellent actor grows old he grows sentimental, a trifle lazy. Mr. Skinner is growing old. So there is some reason for his leaving the donkey and the organ for the beaver and the cane of Colonel Phillipe, defender of the honor of the family and so many, many francs! Francs! There the Gallic flavor enters. One wonders if this should not be recommended to the business school. Not in many moons has the power of a franc appeared so vast...
...only between France and Germany that America enters. What railway bonds Europeans do not buy, will go, at the urgent request of the French, to Americans. For French industry depends somewhat on the pending dent to secure its stability and raise the rate of exchange of the franc. The rattle of American gold may share in the concert of Europe...
...There is no question that it was he, as Premier (1922-24), who sent French troops to occupy the Ruhr. Yet last week M. Poincare, once again created Premier (TIME, Aug. 2), began to clip and prune the French Army, in the interest of national economy to save the franc...
Bank Fund. The final fiscal reform measure for which M. Poincaré secured passage last week authorized the Bank of France to create by the purchase of foreign currencies a non-fluctuating monetary reserve for manipulation in defense of the franc. Premier Poincaré declared roundly before the Senate: "The franc has reached a point where it is much below its real value. The Bank of France bills are guaranteed in such a manner as to render unjustified the absurd present rate of the franc in international exchange...
Significance. Correspondents at Paris wrote last week in an incredulous vein, as though unable to believe that the Chamber, after two years of procrastination and folly, had been galvanized into rational action. So favorable was the reaction of international financiers that the franc touched 35 to the dollar again, after touching 50 during the slump which frightened the Chamber into supporting the "Sacred Union Cabinet." (TiME, Aug. 2.) Throughout the week, M. Poincaré conducted an experimental and educative campaign of inspired statements to the press-sought, without conspicuous success, to find and pave a way through hostile public opinion...