Word: franc
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...moment seemed ripe for attempting to jam through the Chamber M. Caillaux's program (TIME, July 19), whereby the Chamber should confer dictatorial power upon the Cabinet for four months to save the franc. M. Caillaux announced that the Cabinet intended to employ this power to make binding once and for all the Franco-U. S. and Franco-British debt agreements, "as is," and without further dickering...
...stroke was bold and probably judicious. For months the rival factions in the Chamber have played party politics while the franc fell-have displayed the acumen of drunkards gambling in a burning saloon. Not to stake all upon forcing some definite program to an issue, was to court more months of mad trifling while the franc collapsed. Moreover a precedent had been established for franc-saving-by-dictatorship only a few days before, when the Belgian Parliament buried its party differences, and all but unanimously conferred dictatorial power upon King Albert (See BELGIUM...
...debate began. Former Premier Herriot, president of the Chamber, leader of the Coalition of Left Parties, a man of such lofty principles that his last Ministry was overthrown (TIME, April 20, 1925), when it was discovered that he had countenanced tampering with the books of the Bank of France, arose, not to urge any program of his own to save the franc, but solely to upset his rival, M. Briand, and enemy, M. Caillaux, whose notorious reputation has made him suspect of many Frenchmen (TIME, July...
...Chamber, fired by M. Jaspar's eloquence, frightened by the catastrophic fall of the franc,* sunk its party differences and all but unanimously voted dictatorial powers upon a man indisputably above parties, "Le bon Roi Albert, pére des Beiges." The Senate unanimously confirmed the Chamber's action...
...consulted the internationally famed Belgian financiers, M. Francqui and onetime Premier Theunis. By their advice decrees were drafted providing: 1) Transfer of the state-owned telegraphs, telephones and railways to a private monopoly, which will issue 3,000,000 preferred shares at 500 francs each, the state to retain possession of the common stock. 2) The sums thus raised, together with those realized from heavier taxes, drastic state economies and national lotteries, to be employed as a vast franc-stabilizing fund. 3) Exchange operations, especially the sale of Belgian francs to be supervised by the state and speculation discouraged...