Word: franc
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Dates: during 1920-1929
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...failing franc creates such situations in French politics as strike the AngloSaxon with wonder. M. Briand has supplied the latest turn by switching parties while keeping his seat as Premier. The circumstance illustrates an emergency where French vacillations have provided a continuous administration in a case where the rigid two party system in Britain would have forced a break. But one cannot say that the exception does not prove the rule...
Briand was elected by the left. He advocated policies, not so extreme as Herr. ot's, but definitely opposed to the capitalist-militarist doctrine of Poincare. And upon these policies, the right was Briand's foe. Now, however, in seeking to stay the franc, already sunk to an unspeakably low ebb, the Briand government has placed the crucial matter of debts and debt liquidation into the hands of expert financiers, hoping that they can evolve a solution The Premier's supporters on the left, who have less to lose from a financial debacle than the more capitalistic right have deserted...
...franc teetered sickeningly last week, plunged from 31½% to the dollar to 35 1/3, steadied, gathered strength, skyrocketed to 30¾%. Though explanations were many, two facts stood out sharply. Just before the franc's toboggan, Finance Minister Peret was obliged to announce that pourparlers for definitely funding the Franco-British debt had broken down between himself and Chancellor Winston Churchill of the British Exchequer at London. Conversely, the franc rose as soon as the French Cabinet and the Bank of France announced, after M. Peret's return to Paris from London, that the French Government would, if necessary, employ...
...France. The franc, continuing to feel the pressure exerted by British financiers to keep their own currency steady during the strike, slumped again to a low record for all time...
...some months the lack of confidence felt by Belgian bankers and industrialists in the Belgian Finance Ministry has been made manifest by their refusal to cooperate with Premier Poullet's Cabinet in its efforts to stabilize the franc, which has been steadily declining...