Word: franco-british
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...which frightened the Chamber into supporting the "Sacred Union Cabinet." (TiME, Aug. 2.) Throughout the week, M. Poincaré conducted an experimental and educative campaign of inspired statements to the press-sought, without conspicuous success, to find and pave a way through hostile public opinion toward ratification of the Franco-British and Franco-U. S. debt pacts...
...Treasury set out to combat Franco-British propaganda against "U. S. debt Shylocking" by announcing over Mr. Mellon's signature: 1) that under the Mellon-Berenger agreement, if and when ratified, France will repay a sum roughly equivalent to only her post-War borrowings from the U. S., and may therefore be said to have been forgiven her War debt entire; 2) that "England borrowed a large proportion of its debt to us for purely commercial, as distinguished from War, purposes to save borrowing from its own people." (i. e. Britain deserves no cancellation of these "commercial" camouflaged...
...more the Chamber has demonstrated its disinclination and its incapacity to legislate. Almost every possible program for saving the franc has been presented to it, and has been rejected on grounds of petty local politics. The Deputies have refused to vote adequate taxes, or to ratify either the Franco-British or the Franco-U. S. debt settlements. Amid this carnival, this debauch of legislative folly, the franc has lost two-thirds of its value within a year...
...fiscal conqueror. The Franco -British debt settlement (TIME, July 19), which he had negotiated with Chancellor Churchill was supplemented by attached correspondence providing that should France ever fail* to receive less than 50% of the contemplated German reparations payments, Britain will consent to a renegotiation of the entire Franco-British debt...
...through the Chamber M. Caillaux's program (TIME, July 19), whereby the Chamber should confer dictatorial power upon the Cabinet for four months to save the franc. M. Caillaux announced that the Cabinet intended to employ this power to make binding once and for all the Franco-U. S. and Franco-British debt agreements, "as is," and without further dickering...