Word: franc
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...tale is told to the effect that M. Briand, Premier of France once said that he did not know the difference between a stock and a bond because he had never possessed enough spare cash to purchase either. Of such stuff art popular heroes made. Last week Finance Minister Loucheur, known as "the richest man in France," save his drastic eight-billion-franc tax bill (TIME, Dec. 21) wrecked amid a storm of popular resentment Jean Frenchman made it exceedingly evident that he resented being told to pay crushing taxes by the millionaire-financier, M. Loucheur...
...cause of this "buying panic"-which did not assume dangerous proportions-was twofold: 1) Finance Minister Loucheur had just presented the Chamber with the first draft of a new tax bill expected to raise eight billion additional francs per annum, by increasing the taxes on alcohol, business transactions and practically everything else; 2) The franc slipped down last week to 27 to the $1, a new low record for the year. The relative stability of numerous foreign currencies, prompted the harassed Jean to transfer his currency into pounds, gulden, Scandinavian kroner, U. S. dollars...
Finally MM. Briand and Loucheur held a long series of conferences as to the possibility of getting an eight billion franc per annum tax increase through the Chamber in any form whatever. Since the outstanding indebtednesses of France will continue to mature at a rate demanding approximately this amount of additional cash, the alternative to voting it would seem to be national bankruptcy...
...purpose of resuming the negotiations at Washington begun by M. Caillaux that M. Bérenger is leaving for the United States soon as French Ambassador, and we hope that when an accord is reached the French franc will follow the upward course of the Belgian franc and Italian lira...
...Editor Frank was offered the Wisconsin presidency after it had been refused by Roscoe Pound, Dean of the Harvard Law School (TIME, Feb. 2). Jokesters said: "Is a franc to be considered as valuable as a pound?" Other Jokesters made quips about offering the presidency to Robert Dollar (shipping man), to Percy Marks (educator), to Harpo, Groucho, Zeppo and Chico Marx, actors...