Word: franc
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
Thus pressure on the franc last week was "psychological, not actual," in the opinion of foreign exchange experts. They pointed to the success of new Premier Flandin in winning huge votes of confidence from Chamber and Senate on a program of rock-ribbed gold standardism (seep. 21). The gold cover behind French currency stood at over 80%. Even so, psychological pressure was great. After-effects of the French crisis fortnight ago kept the currencies of four gold bloc countries (France, Belgium, Netherlands, Switzerland) fractionally below the gold export point all week. President Roosevelt, by relaxing completely the lax treasury restrictions...
Promptly His Majesty asked Gold-Standardist Henri Jaspar to form a Cabinet. M. Jaspar at once tried to get as Finance Minister Belgium's squat old Copper King and No. 1 banker, M. Emile Francqui, stabilizer of the Belgian franc in 1926. Before the Cabinet slate was announced last week, Brussels proletarians heard that it would contain a director of the Liége National Arms Factory, began murmuring against "The Gun Makers' Cabinet...
Switzerland. A spectacular promotion stunt by Swiss hotelkeepers backfired last week, sending the Swiss franc down below its gold point for the first time in months. To attract British winter sportsmen, the stunting bonifaces advertised that in settlement of Swiss hotel bills the pound sterling will be accepted as worth 16 Swiss francs flat. Last week the pound was worth 15.31 Swiss francs on international exchange. In effect the Swiss hotelkeepers had merely cut their rates. But Paris seethed with angry talk: "The Swiss, like the Germans, are creating an unfair cut-rate currency. What is the difference between...
There is every difference, the Swiss Government pointed out: 1) No 'tourist franc' has been created; 2) the actual Swiss franc remains fully convertible into gold; 3) the Swiss Government deplores the conduct of its hotelkeepers but is naturally helpless to prevent them from talking about a price reduction as if it were an innovation in exchange...
...Premier faced the Chamber with a crisp, dynamic program speech: "The world is suffering from too much controlled economy....I ask union for action and action in union!...Stability of the franc must be maintained and interest rates lowered....Restricted economic regimes have failed everywhere. France must have organized, controlled and defended Liberty to remedy the evils of unemployment, poor sales and slack business...