Word: franc
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Dates: during 1920-1929
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Invisible Empire. Far beyond these visible outlines extends the invisible empire of the Dollar. Ten billion dollars, in full battle array, are yearly fighting the pound sterling, the franc, the guilder, the mark for supremacy...
...potency test of a French Prime Minister is whether he can lash his budget through the Chamber of Deputies by Jan. 1. Nobody had done it for years until 1926, when great Raymond Poincaré made budget punctuality the crux of his saviorship of the franc. Last week the savior's smart disciple and successor, Prime Minister André Tardieu. battled to equal the record of his chief, battled also to vindicate his own nickname, "The Most American of Frenchmen" (TIME...
...helm. With sound strategy, M. Tardieu shifted from foreign affairs to a masterful address on internal agrarian and financial policy. That turned the scale. For years M. Tardieu has been called Le Dauphin ("The Crown Prince"), designated to succession by the fiscal genius who saved and stabilized the franc, M. Raymond Poincare (TIME, Jan. 3. 1927). Last week the Deputies were apparently convinced at last that the new Prime Minister is indeed a second Poincare, a strong and jealous guardian of the foreign rights and fiscal integrity of France. When he had done, M. Tardieu received an ovation no less...
...gets large sums of needed cash and then repays the loan by a tax on matches. As for the match-users, they get excellent matches and the price is fixed by an agreement between Herr Kreuger and a government committee. In 1927 Herr Kreuger enabled Premier Raymond Poincare of France to complete the stabilization of the franc with a $75,000,000 loan in return for a semimonopoly in French matches. Although Herr Kreuger is always willing to make a large loan investment in order to eliminate competition, he has also succeeded in reducing competition to a minimum even...
...extremity of panic, the 65-year-old "Lion of Lorraine" was again called to form a government. It is astounding history that as his own Finance Minister, Prime Minister Raymond Poincaré restored the shaken credit of the French Treasury within six months, recouped the fall of the franc, finally stabilized it on a gold basis of $1 = 25.52 francs...