Word: francs
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Dates: during 1950-1959
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...next year. As Secretary of State to the Premier in 1953, he launched le plan Gaillard, a five-year program for atomic energy development. But he was little known to the French public until last summer, when as Finance Minister in the Bourges-Maunoury government, he courageously devalued the franc, forced spendthrift ministers to cut back their programs...
...occasion imparted a tremor to Gaillard's normally resonant voice. Then he steadied and briskly outlined his program. Main points: special powers for pursuing the war in Algeria (including a new appeal to the rebels for a ceasefire, a new discussion of the loi cadre), a 100 billion-franc slash in government expenditures, new taxes and price controls...
Radical Socialist Gaillard, the author of France's recent too-little-and-too-late partial devaluation of the franc, set out to persuade the conservatives and Socialists, who keep rejecting one another's candidates, that he should head a "government to defend the republic." The Socialists balked, but finally at week's end agreed to back him. Barring a last-minute hitch, Gaillard was to be voted into office this week, on his 38th birthday, as the youngest Premier in the history of modern France...
...second day as French Premier, Felix Gaillard continues to face some disturbing problems. France has been without a government for thirty-six days, during which time pithead coal prices have risen 6.5 per cent, the import tax has risen 20 per cent, and the franc's value has fallen 20 per cent. To combat the falling franc and the rising Algerian, fresh and dynamic leadership is needed. If the following proposals to M. Gaillard are not dynamic, they are, at least, original...
...that the government has had to slash its vital five year plan and bombard all capitals with supplicating cries for investment cash. Brazilians' living costs have more than trebled since 1950; Chileans' have risen twelvefold. Britain's index has shot up 43% in seven years, and France's latest 10%-20% price zoom for food and consumer goods has already wiped out any hoped-for gain from last summer's devaluation of the franc...