Word: franc
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Dates: during 1940-1949
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...France came a flood of reports that the franc, none too firm on its pegged legs, is to be devalued. The French Government denied all these reports, indignantly denounced them as "disturbing." But there were plenty of other reasons for the French to be disturbed about the delicate health of the franc. The main fact was the De Gaulle Government is still attacking the tough problem of French inflation in piecemeal fashion, has as yet had little success...
...billion U.S. war loan.) But skeptical French financiers flatly called the loan a failure. They passed along the almost unbelievable gossip that two-thirds of the bonds were apparently bought by: 1) Belgian money fleeing the harsh deflation measures in that country (TIME, Nov. 6); 2) German franc holdings, built up in the occupation, coming back into France via Switzerland...
...France people, scared by the Belgian experiment, feared that the De Gaulle Government might try the same deflationary trick. Last week they scrambled frantically to buy U.S. dollars, British pounds and gold in the black market. Result: the franc, pegged at 2?, sank until a dollar was bringing 315 francs. The franc did not rise till Andre Istel, French delegate at the Bretton Woods conference, announced that France had no intention of following Belgium's plan. The Allies helped by recognizing De Gaulle. This implied releasing to his Government over $1 billion of French gold to put a solider...
...Front National was strongly leftist. It included Foreign Commissioner Bidault's Catholic party, labor unions, businessmen's associations, professional people. Its military organization was the Franc-Tireurs Partisans (F.T.P.), the Communist-controlled section of the F.F.I...
...both cities, prices had skyrocketed so far under Nazi-managed inflation that the franc was worth something like 1/10 to 1/5?; and G.I. Joe (by agreement of the U.S. with its Allies) draws his cash in francs at the rate of 2$ a franc...