Word: franc
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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...
When that fanatical gold standardist, M. Louis Germain-Martin, agreed to stay on as Finance Minister, government bonds and the franc upped again. The rest of M. Flandin's new Cabinet was composed largely of other holdovers from the Doumergue Cabinet, but he was able to spring one major surprise-Georges Mandel...
Divorced. Yvonne Printemps, 35, French actress currently performing on Broadway in Noel Coward's Conversation Piece (TIME, Nov. 5); and Sacha Guitry, French actor-playwright; in Paris, on grounds of "reciprocal adultery." Finding both parties guilty, the court granted an impartial decree, canceled Mile Printemps' 6,000-franc monthly allowance. Manhattan's tabloid Daily News gushed editorial approval of this "sensible" ruling, seized a chance to lambaste U. S. divorce laws...
Corot's life was a model of peaceful, unexciting bourgeois comfort. When he was an oldster he was kindly, simple, generous to charities and other painters. He once refused 10,000 francs for some pictures, asked the buyer to give Millet's widow a 10-year 1,000-franc annuity instead. Dealers took advantage of his sliding scale of prices whereby he charged the rich much, the poor little. Paris knew him and loved him as le bonhomme Corot, a brawny celibate who in his youth could and did knock a peasant down with his fist...
Michelin, the historic French firm of pneumatic tire pioneers, is one of Citroën's largest creditors. With some 30,000,000 francs ($2,000,000) at stake, Michelin decided last week to gamble on the popularity of the new Citroën. Perhaps in another three months the Ford of France will be able to get on his feet. For that period Michelin agreed to guarantee the debts of Citroën, but on a hard condition. To make sure that the slick motorman plays no tricks, Michelin forced M. Citroën to admit into...