Word: franc
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Dates: during 1920-1929
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...announced by M. Poincaré, prior to his recent sweeping victory at the general election (TIME, May 7), the present Conversion Loan is a firm preliminary step toward eventual restoration of the stabilized franc to a gold basis...
...proceed with confidence to take the four great steps in financial policy to which he is pledged: 1) amortization of the floating debt by a large internal loan; 2) ratifications (possibly after renegotiation) of the Franco-U. S. and Franco-British debt settlements; 3) restoration of the franc to a gold basis, probably at the present stabilized rate of 25 francs to one dollar; 4) acceptance from Germany of a (reduced) lump sum in payment of her reparations, this sum to be derived from the sale of the German railway bonds now held by the Reparations Commission...
Well posted observers spotted instantly the non-truth of this last headline. They recalled that during the slump of the Belgian franc (TIME, March 29, 1926, et seq.), the Government of Belgium flatly rejected a proposal by Captain Loewenstein that he should lend $50,000,000 "without interest" to save the franc, but only upon certain all too shrewd conditions...
When votes were counted, last week, it was seen at first blush that not a single Communist had been returned and that the country had swung toward supporters of the Sacred Union Cabinet of Prime Minister Raymond Poincaré, savior of the Franc. The second blush would come seven days later, when Frenchmen will vote again in those constituencies where no candidate obtained a majority last week...
...Cartel des Gauches and would lead to less orthodox handling of State finance. As may be seen from the above summary, it is a curious fact that the leaders of both the large rival groupings are now members of the present Sacred Union Cabinet which was assembled during the franc crisis from leaders of all parties. Thus no matter which way the election swings, a considerable proportion of the present Cabinet Ministers are sure to remain in office...