Word: franc
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Doctors disagree on only two subjects: what is wrong with a patient and what cured a patient. The franc, which a month ago seemed beyond medical aid, is now in the convalescent ward. The patient shows a healthy appetite and touched 6.06 cents-the highest point since July...
Doctor Loucheur (Minister of Commerce) announced, when his patient suffered a slight relapse after this effort, that he expected to keep the franc about 16 to the dollar...
...meantime France studied the course of the late illness. It was "discovered" that France had saved the franc by her own efforts, that Mr. J. P. Morgan's $100,000,000 credit (TIME, March 17) had not been needed, that the conditions of the loan had been too severe. Inquiries in Manhattan showed, however, that the well-known medical firm at No. 23 Wall St., Manhattan, had saved the day. Reports originating from the French Ministry of Finance stated that the franc recovered when there was a rush of buyers to cover a shortage, following the operation...
...Lasteyrie, Finance Minister, was in the Chamber of Deputies, attending to a routine finance bill. Only 80 deputies were present. The radicals proposed to adopt a Senate measure, proposing a 2,600,000,000 franc increase in pensions; the Finance Minister made an issue of the matter. The 80 voted. The attendants cast the proxies left by absentee members. When the vote was counted, the Government had lost by seven votes...
Expressing "absolute confidence" in the resources of France and the intelligence and industry of its people, Mr. Morgan declared: "If the ruling classes only make a similar effort, France soon will be invincible in the economic domain. In any case, we shall always be at her side, and sustain her when necessary." Mr. Morgan evidently understands the French psychology very well; said he: "It is quite understood that Germany must pay you." He went on to state that nothing in the French situation prior to the fall of the franc justified a panic; that in fact France's national...