Word: france
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Dates: during 1930-1939
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...Allies buy together instead of competitively in neutral countries. Equally important, each shall buy in the other's Empire so far as possible, so that the transactions can be on paper and the joint reserves of gold and foreign exchange husbanded. Those old allies, the pound and the franc, shall of course march together in international exchange till death doth them part...
...noon in London) to telephone his boss, Secretary Henry Morgenthau Jr. in Finland, Sweden, Norway; to telephone the men in London who watch the English end of the tripartite monetary agreement. Mr. Hanes had $2,000,000,000 worth of stabilization funds to repulse panicky raids on the franc, pound, dollar...
...President's power to reset the gold content of the dollar as low as 50% of its old value (present value 59?). The Administration has not used this power, has no present plans for using it except in some emergency if the pound sterling and the franc should collapse. The Senate proposed to let this power (a threat of inflation) expire-in effect, to take it back into the hands of Congress until it is again needed...
...virtually performed a political cartwheel. In general, the French Right favored appeasement. The British Cabinet, bent on handouts for the dictators, pressed Leftist Daladier to give way. He sealed tight the Spanish border, an action which also sealed the fate of the Spanish Loyalists. French finances groaned, the franc wavered, the country rapidly lost its gold. At Munich he gave way completely and brought France...
...speculators even talked seriously of far less likely magic such as further dollar devaluation-which would make it cheaper for the dictatorships to buy needed supplies in the U. S. and would put a strain on the pound sterling and the franc, a distinct disadvantage in the President's eyes...