Word: franc
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Premier and Finance Minister Raymond Poincare won a smashing vote of confidence, 370 to 131, last week, on his whole financial policy. Thus he reaped well after sowing a gigantic eight-hour speech (TIME, Feb. 13), in which he explained and defended the means whereby he had rescued the franc from decline and virtually stabilized it within only 18 months...
Plowing through mountains of statistics, but enlivening his discourse with a running undercurrent of wit and a few sly I-told-you-so's, M. Poincare presented an 18-month record of brilliant financial stewardship which no other living statesman can match. He has saved the franc from what seemed irretrievable decline, raised and stabilized it de facto at 25 to the dollar, drastically reduced the French internal debt, and accomplished all this without recourse to foreign credits and without having to secure ratification of the (in France) intensely unpopular Franco-U. S. debt settlement...
Last week High Steward Poincare completed his indirect accounting and appeal to the electorate by shrewdly declaring that in 1928 he will (i.e. if supported at the general election) complete the fiscal rehabilitation of France by finally and legally stabilizing the franc...
...brunette who assists the capricious avarice of Lorelei, is neatly played by Alice White. It would have seemed not incredible had their jaunt to Paris, underwritten by Mr. Eisman to further the already astonishingly complete education of his two protegés, resulted in the complete rehabilitation of the French franc...
Cried he: "The spectacle of the franc at a fifth of its pre-War value is as pitiful a sight as the War-maimed poilus one encounters in the streets! . . . Salvation lies in a new currency, in severing all ties with the past! Already Belgium, Austria, Hungary and Russia have struck new coins† .... The best reason for reviving the ecu is that it would stop our people from thinking in terms of francs and would abolish forever the present distressing comparison of salaries and prices with those of pre-War days. . . . The franc, even...