Word: franc
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Dates: during 1920-1929
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...Basil Zaharoff, famed "mystery munitions Croesus of Europe" (TIME, March 8, MONACO), contributed 1,000,000 francs to a "Save the Franc Fund," now being administered by Marshal Joffre. Other contributors: City of Lyons, 250,000; the Paris Herald (U. S. expatriates' daily), 100,000 francs and 222,000 more from its readers...
...franc sank to new low records for all time last week. At length it touched 29.82 francs to the dollar. This decline was considered particularly disheartening, since it proceeded from no immediate or striking cause. Statisticians opined that the franc is probably still some distance above the critical point of irretrievable decline. They recalled that the pre-War mark* took two years to fall from 48 to the dollar to 184, one year more to slump to 7,350, six more months to crash to 154,000, and a final five months to become invisible...
...What new low level did the franc attain...
...Franc showed no favorable reaction to these developments last week; hovered about 29 francs to the dollar...
...Recovery. While the Deputies' ballots arrested the fall of the franc last week, they failed to give it an upward trend because: One. The "sales tax" passed the Chamber by a vote of only 227 to 103?that is, with 190 abstentions, thereby indicating that the Depu- ties are not sincerely behind it. Two. These "benevalent absten- tions" were due only in part to the fear which the Deputies felt for the franc. The Radicals, especially the Socialists, who abstained did so at a price: the reluctant inclusion by the Government in the budget bill as finally passed of clauses...