Word: franc
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Dates: during 1920-1929
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While His Majesty thus decreed economy, the Senate assisted his ef- forts to save the Belgian franc by unanimously ratifying the bill turn- ing the state railways over to a National Railway Co. (TIME, July 26). The proceeds from the sale of this company's preferred stock will be used as the nucleus of a franc-saving fund...
...Raymond Poincaré, whose name is great in France, was called by President Doumergue to form a "Sacred Union" Cabinet, last week-to weld the unruly French Parliamentary blocs into a stable unit, to save the franc from extinction. The task which, he faced was stupendous, unique...
...debate began. Former Premier Herriot, president of the Chamber, leader of the Coalition of Left Parties, a man of such lofty principles that his last Ministry was overthrown (TIME, April 20, 1925), when it was discovered that he had countenanced tampering with the books of the Bank of France, arose, not to urge any program of his own to save the franc, but solely to upset his rival, M. Briand, and enemy, M. Caillaux, whose notorious reputation has made him suspect of many Frenchmen (TIME, July...
...Chamber, fired by M. Jaspar's eloquence, frightened by the catastrophic fall of the franc,* sunk its party differences and all but unanimously voted dictatorial powers upon a man indisputably above parties, "Le bon Roi Albert, pére des Beiges." The Senate unanimously confirmed the Chamber's action...
...consulted the internationally famed Belgian financiers, M. Francqui and onetime Premier Theunis. By their advice decrees were drafted providing: 1) Transfer of the state-owned telegraphs, telephones and railways to a private monopoly, which will issue 3,000,000 preferred shares at 500 francs each, the state to retain possession of the common stock. 2) The sums thus raised, together with those realized from heavier taxes, drastic state economies and national lotteries, to be employed as a vast franc-stabilizing fund. 3) Exchange operations, especially the sale of Belgian francs to be supervised by the state and speculation discouraged...