Word: franc
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Dates: during 1920-1929
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...franc reached the lowest point in its recorded history when it fell to more than 20 to the dollar...
...Intransigeant, Paris evening journal: "There is much to be done. . . For instance, why does the Government tolerate the action of the defeatist Frenchmen, having no purchases to make abroad, speculating on the dollar against the franc? Why tolerate that in France, notably Alsace-Lorraine, important contracts are signed between French industrials payable in dollars, as if the franc had ceased to be the only currency having official circulation in France? Whatever way we turn, we find the need for a strong Premier to steer the country through its difficult task. M. Poincaré as Minister of Foreign Affairs has been admirably...
...real remedies for the foreign exchange situation lie neither in the domain of repression nor of regulation. Measures of the kind adopted in foreign countries, notably Germany, have given most deplorable results. There is no possibility of hiding the fact that the present movement of the depreciation of the franc began this time from the interior. This is indisputable. There has developed in the last few days among the French public an unjustified panic, causing excessive purchase of foreign currencies unwarranted by our commercial requirements...
Subscriptions to a 3,000,000,000-franc 6% lottery loan for work in the devastated areas during the current year were reported about to be invited by the Government...
Lawrence B. Sperry was a son of Elmer Sperry, famed inventor of many gyroscopic appliances. Scarcely 30, he had achieved a reputation almost equal to that of his father. In 1914 in France, he won a 10,000-franc prize, flying a plane so stabilized by the Sperry automatic pilot, that a mechanic walked out on the wing while the pilot left the machine entirely to its own control. The first man to loop a hydroplane, the first to instal a radio set in an airplane, he was carving a brilliant career as a designer and builder of aircraft...