Word: franc
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Dates: during 1920-1929
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...franc slumped to 37 to the dollar. The cost of living was announced as having risen 10% in France within two months. Finance Minister Péret, disheartened at his failure to peg the franc, resigned. Deputies of the Right, theoretically foes of Briand, paradoxically continued to support his Left Cabinet lest the franc collapse. Deputies of the Left, angered at M. Briand's disregard of their views, deserted him. Though M. Briand could and did obtain a vote of confidence by a majority of 114, the situation had become a hopeless tangle. Stabilization of the franc could...
...emergency solution lay in the formation of a "Sacred Union Cabinet* in which outstanding members of opposed parties should bury their differences to save the franc. M. Briand took a bold step, resigned, though still supported by a majority in the Chamber, promptly set about to build a Sacred Union Cabinet at the pre-arranged request of President Doumergue...
Purse-heavy U. S. citizens exchanged fat dollars at Paris for 34½ lean francs each-only an odd franc less than during the low-for-all-time slump (TIME...
Worried Frenchmen grew panicky as Finance Minister Péret offered to resign, since even his use of the long-boarded Morgan loan (TIME, May 31) had failed to stabilize the franc. President Doumergue and Premier Briand conferred, decided that M. Péret must continue his efforts...
...upshot was that the wily Aristide secured further postponement of debate on Government fiscal activities by a vote of 313 (Right and Centre) against 147 (Socialists and Communists). He proceeded at once with exchange manipulations to steady the franc, being guided by the advice of a committee of fiscal experts. The franc, perverse, declined slightly, rendering his position acutely delicate...