Word: francqui
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...ability to keep the belga on gold, Premier Georges Theunis last week went to work. In few countries have Government expenses been pared so sharply as in Belgium. Yet last week Elder Statesman Theunis, backed by two of Belgium's richest men. Minister Without Portfolio Emile Francqui (banks, copper) and Finance Minister Camille Gutt (Katanga Copper), pared 5% more off Government pensions and salaries, 50%, off rent allowances, a big slice off relief allowances to the provinces...
Even a king as young as Leopold III could not miss that cue. Next day the mob was saying that His Majesty had sent M. Jaspar packing and M. Jaspar was saying that he had voluntarily returned the royal mandate because he could not get M. Francqui into his Cabinet...
Promptly His Majesty asked Gold-Standardist Henri Jaspar to form a Cabinet. M. Jaspar at once tried to get as Finance Minister Belgium's squat old Copper King and No. 1 banker, M. Emile Francqui, stabilizer of the Belgian franc in 1926. Before the Cabinet slate was announced last week, Brussels proletarians heard that it would contain a director of the Liége National Arms Factory, began murmuring against "The Gun Makers' Cabinet...
...Theunis, negotiator of Belgium's debt settlement with the U. S. in 1925. Now a ranking Belgian elder statesman, former Premier Theunis emerged from retirement with reluctance. "The task is not simple," said he, "but I will do my best." His best, completed after three days, included M. Francqui as Minister Without Portfolio...
...Francqui was familiar with the White House and its portals. Sent to the Congo as a youth he helped secure for Belgium the vast territory that now holds her famed copper mines. A born empire builder. Emile Francqui was soon serving his country elsewhere. In China where he went as economic adviser to the Government he met a young U. S. engineer named Herbert Hoover. Some years later, during the World War, he was Herbert Hoover's chief coadjutor in distributing Belgian relief. After the War his contacts with the U. S. multiplied. He was a member...