Word: franc
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Dates: during 1930-1939
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Shrewd Laval. That France, after two years of Adolf Hitler's blustering at the rate, should still want a disciple of M. Briand for Premier, revealed again the peace depths in French hearts. Pierre Laval loomed last week as the right Premier to save the franc and France because he has built himself up in the eyes of all Frenchmen by ceaseless peace efforts as French Foreign Minister. These climaxed in the Stresa Pact and his visit to Moscow (TIME, May 27). M. Laval's manner of achieving power as Premier, for the third time, all French politicians...
Article One: With a view to avoiding devaluation of the franc, the Senate and Chamber authorize the Government to take by decree until Oct. 31, all measures having the force of law to fight speculation and defend the franc...
Rousingly Chamber and Senate answered with smash votes of confidence 324-160 and 233-15 respectively. On international exchange the franc rose as the pound, dollar, fell, carrying up with it the Swiss franc, guilder and lira. Displeased were French Communists and extreme Socialists, their spleeny spokesman being Pinko Deputy Leon LaGrange who had declared in debate, "The 200 families who rule this country are opposing the National will!" These villains, Deputy La-Grange said, are headed by "the regents of the Bank of France, de Rothschild and de Wendel!" In French villages sage peasants with gold in their mattresses...
...from San Francisco to New York, Baron Henri de Rothschild, practicing physician, essayist, playwright, perfumer, big game hunter, winemaker but no banker (TIME, May 20), was asked by Chicago newshawks about international finance, the position of the franc. Shrugged Dr. de Rothschild: "It's too early in the morning to talk about world finance...
...were frankly sanguine. NRAftermath jitters might deepen the current downward dip in the business curve but when recovery was resumed it would be broader and brighter. The stock-market relapse in any event was overdue after a two-month climb and was accelerated by the plight of the French franc (see p. 19). The fall in commodities was aggravated by President Roosevelt's gloomy forecast that wheat might drop to 36? per bu., cotton to 5? per lb. unless the Constitution were amended (see p. 11). And general uncertainty was increased by the fact that the mourner...