Word: franc
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...besought by M. P.'s of various factions to attempt pound-dollar stabilization. Replied the Empire's beak-nosed budget balancer, Chancellor of the Exchequer Neville Chamberlain: "[We] must wait until there is such a change of price levels as may bring the dollar and the franc into greater harmony with one another, which I understand is the policy of the United States to bring about and to which I, for one, wish all possible success...
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...