Word: franc
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...Paris the announcement that M. Caillaux was bringing home for ratification merely a stop-gap debt settlement (see Page 5, THE CABINET) wrought one effect expressible in figures. On the Paris Bourse itself, in spite of the French Government's placing buying orders for 40,000,000 francs, the exchange value of the franc fell from 4.75c per franc...
...Geneva and at Paris diplomats dropped a pregnant word or two anent M. Caillaux's mission. "Set all question of figures and barter aside," said they. "If America expects any sum to be repaid by France over a period of 60 or 70 years, she is deluded. Grey-bearded men, yet unborn will not pay taxes to America in 1980. There was no Italy 60 years ago; will there be a France in 60 more? Sixty-two years ago the dollar was worth only a franc; it may be worth less than that in another...
...Caillaux's attempt to retire between 15 and 20 billion francs of short term "defense bonds" by a 4% "gold loan" (TIME, July 6) has fallen dismally short of expectations. The 67 billion francs of outstanding short term paper has been reduced by less than 5 billion instead of 20. In the event of a panic on these securities, the Treasury and the Bank of France would almost certainly have to take refuge in inflation, which might send the franc crashing to infinitesimals...
Later in the morning the franc broke on the bourse, dropping 9¾ points to 23 to the dollar?the lowest reached since March of last year...
Stooping among his instruments in a lonely observatory at Juvisy, France, Camille Flammarion, 83, famed French astronomer, felt a chill in his side, slipped to the floor. Many hours later, footsteps rang on the stone stairway. The servant who entered found Flammarion where he had fallen. One arm was twisted under his body. His face, scribbled with an extraordinary network of fine lines, was curiously dis- ordered under the bush of his white hair. He was dead. When Camille Flammarion was 9, he saw an eclipse. It was not the spectacle of the little moon lying like a black penny...