Word: franc
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Dates: during 1920-1929
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...France goes to the polls, this week, to elect the 14th Chamber of Deputies of her present Third Republic. As happened in 1924, when the 13th Chamber was chosen, the Prime Minister who now faces the country is again M. Raymond Poincaré, 67, brisk, snowy haired, charming of manner, firm of mind, sagacious. Last time this paladin of politics lost the election (1924) and went out of power for two years. Then the collapse of the franc resulted in his being recalled to the Prime Ministry to restore the shattered finances of France (TIME, Aug. 2, 1926). That task...
Plans for this oceanic route were completed last December when the Chamber of Deputies granted a 60,000,000-franc subsidy. These plans were hurried into operation last week because the Germans were hurrying forward with competition...
Premier and Finance Minister Raymond Poincare won a smashing vote of confidence, 370 to 131, last week, on his whole financial policy. Thus he reaped well after sowing a gigantic eight-hour speech (TIME, Feb. 13), in which he explained and defended the means whereby he had rescued the franc from decline and virtually stabilized it within only 18 months...
Plowing through mountains of statistics, but enlivening his discourse with a running undercurrent of wit and a few sly I-told-you-so's, M. Poincare presented an 18-month record of brilliant financial stewardship which no other living statesman can match. He has saved the franc from what seemed irretrievable decline, raised and stabilized it de facto at 25 to the dollar, drastically reduced the French internal debt, and accomplished all this without recourse to foreign credits and without having to secure ratification of the (in France) intensely unpopular Franco-U. S. debt settlement...
Last week High Steward Poincare completed his indirect accounting and appeal to the electorate by shrewdly declaring that in 1928 he will (i.e. if supported at the general election) complete the fiscal rehabilitation of France by finally and legally stabilizing the franc...