Word: franc
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Dates: during 1930-1939
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Last week the Académie des Sciences, Belles-Lettres et Arts de Bordeaux was calling for a song to make Frenchmen drink more wine. In dead earnest it posted a 5,000-franc ($300) prize for the best Hymn to the Wine of Bordeaux, with words and music, submitted before April 12 by a person of French birth...
...since 1928 was presented to the House of Commons by Sir Bolton Meredith Eyres Monsell. First Lord of the Admiralty. Cost: ?56,550.000 ($287,274,000), or $15,158,400 more than last year. New ships: four cruisers, one aircraft carrier, nine destroyers, three submarines, many a small craft. France- The Doumergue Government pushed construction on a man o' war, two submarines, and a destroyer for which it had yet to obtain Parliamentary consent, then asked Parliament to authorize a three billion franc ($197,400,000) bond issue to pay for additional armaments. Navy: 595,000,000 francs...
...Ford of France was by no means out, but no longer would he run his two billion-franc company with the absolutism which, along with mass production methods, he borrowed from his idol, the Ford of Dearborn. Andre Citroën has what Henry Ford mortally hates & fears -bankers...
Meantime the influx of gold gradually had its expected effect on foreign exchange. The franc mounted from 6.52? to 6.57?, approached its new par of 6.63? while the dollar fell correspondingly. The pound, which has no fixed gold value, was up from $5.05 to $5.08. As the dollar approached its new par, the profit in importing gold gradually declined, which in turn promised to reduce and eventually stop gold imports...
...purchasing commissions which operated in this country during the world war. European countries are getting ready to do the same thing in their relations with the United States. The systems of barter and exchange are in large part the inevitable consequence of failure to stabilize the pound or the franc in terms of the dollar. If any commitments are to be made in foreign transactions, governments will have to take the risks of fluctuations in international exchange...