Word: franc
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...Paris, concern over the expense of conducting the war was manifest in official and business circles. It is now six weeks since the conflict began; and, judging from the appropriations asked by Finance Minister Joseph Caillaux (100,000,000 francs, covering a period of three months), there is no immediate prospect of defeating the Riff rebels. Meantime, the franc depreciates in value and finance reforms daily become more difficult...
...also said that the receipts from Germany would be utilized as follows: two-thirds for reconstruction work, one-third for payment of the U.S. and British debts. There was no possibility, he averred, of improvement in the position of the franc until France's external debt had been settled...
Poincarism; and even if the franc is to follow the route of the. mark, they seem to prefer to let France stew in her Socialist juice for a while...
Etienne Clementel mounted the tribune of the Senate. . . . There was eager attention. First, he announced the obvious fact that France had erred previously by placing too much hope in German reparations payments. Then he warmed to his subject. He pointed out that many of the bank notes now in circulation were being hoarded by the people, advocated a new note issue to replace the old. He pointed out that, before the War, the note and metal circulation was 11,500,000,000 francs; that, since the value of the franc...
Depreciated fourfold, France should now have a note circulation of 46,000,000,000 francs. Last week, it was only 96,200,000 francs less than the 41 billion franc limit...