Word: franc
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Dates: during 1920-1929
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...evidence of royal democracy, pointed proudly to the royal garage last week. There His Majesty's three sleek, Belgian-made Minervas have stood without aspirating so much as a drop of gasoline since the King, as Dictator (TIME, July 26), demanded national economy to save the Belgian franc...
...year and more the Chamber has demonstrated its disinclination and its incapacity to legislate. Almost every possible program for saving the franc has been presented to it, and has been rejected on grounds of petty local politics. The Deputies have refused to vote adequate taxes, or to ratify either the Franco-British or the Franco-U. S. debt settlements. Amid this carnival, this debauch of legislative folly, the franc has lost two-thirds of its value within a year...
Last week the politicians of France seemed at last somewhat chastened. Premier Herriot had fallen after only two days in office. As an earnest that they were willing to break party lines for once, some 300 Deputies, headed by Deputy Morinaud of Constantine, Algeria-a political nobody-signed a petition requesting that the President designate some outstanding statesman to form a Cabinet in which all parties would unite to save the franc. Naturally, M. Doumergue chose the potent War-President of France, the representative of French "Big Business," M. Raymond Poincaré. Soon Poincaré "presented" to M. le President...
...possesses only five dollars fancy he has caught you in the act of stealing one of them and you have started a fight. Last week the franc plunged suddenly from 40 to the dollar to nearly 50. Frenchmen, clutching crisp or crinkly banknotes, felt their wealth oozing from them as insidiously as though they grasped a handful of slime. What to do? "Naturally"-with blind instinctive no-logic-they hit out. At whom? At Herriot, whose ambitious folly had overturned the Briand Cabinet (TIME, July 26)? Yes. M. Herriot was mobbed, though he escaped. (See "Presidents, Premiers.") But there...
Late in the week, Parisian merchants, terrified lest "Les Amér- icains" and their gold be frightened from Paris, began an anti-anti- American campaign through the press. The situation eased perceptibly with the return of the franc to 40 on the advent of M. Poincaré's Ministry...