Word: franc
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Premier Poincaré, shrewd psychologist, able politician, has been putting off until the last possible moment the autumn session of the Chamber of Deputies and has thus gained time in which to proceed unhindered with his franc-saving program which has raised the franc from 40 to the dollar to 30 to the dollar, since the Chamber rose (TIME...
Finance Minister Emile Franqui, and M. Franck, Governor of the Bank of Belgium, were acclaimed as the two Belgian financiers chiefly responsible for negotiating the international loan, and "advising" King Albert, recently created "Dictator of Belgium" (TIME, July 26) to stabilize the old franc by decree instead of creating a new currency...
...this reason the stabilized Belgian franc-hereafter to be quoted on international exchange in belgas-was dubbed by fiscal humorists last week the "Franck-Franqui franc...
Half the $100,000,000 international bond issue on the basis of which the Belgian franc was stabilized last week (see p. 16) was offered in Manhattan by a syndicate headed by the house of Morgan and the Guaranty Trust...
...half of the $100,000,000 issue was snapped up almost as quickly in London, Paris, Tokyo, Berlin, Amsterdam, Stockholm and Budapest. The stabilized Belgian franc, now quoted in units of five francs known as belgas, promptly mounted to a fraction over sterling...