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...Mayer-the calling in of all 5,000-franc notes. One farmer burned his, rather than turn them in and invite questioning. Black-marketeers and others, forced for the first time to disclose their holdings, scurried around selling their excess notes for as little as 200 francs. But honest Frenchmen lined up with their 5,000-franc notes and turned them...

Author: /time Magazine | Title: FOREIGN EXCHANGE: Squeeze-Out | 2/16/1948 | See Source »

...gave him some help. Secretary of the Treasury John W. Snyder last week gave in to French demands for a look at bank accounts of Frenchmen in the U.S. U.S. bankers grumbled at this violation of depositors' confidence. This would enable the French government to lay its hands on perhaps $300 to $400 million by forcing the holders to turn them in for francs...

Author: /time Magazine | Title: FOREIGN EXCHANGE: Squeeze-Out | 2/16/1948 | See Source »

Meanwhile, René Mayer's economic window-smashing had bewildered and frightened Frenchmen. Prices of oranges, chickens, beans, eggs skittered nervously upward. Many a thrifty soul with a sockful of 5,000-franc notes spent an anxious two days before he learned that the government would redeem his notes in full-if he could prove that he came by them legally. Said a Paris policeman: "This is a bitter pill, but we will have to swallow it. Let's hope it will save France...

Author: /time Magazine | Title: FRANCE: Lets Hope | 2/9/1948 | See Source »

...France Dimanche is equally violent. Every week it hits 565,000 Frenchmen in the eyes with Corre's "American-style journalism." He was among the first to import American tricks: crack rewrite-men sharpen his news, splashy pictures-occasionally nudes-and sassy headlines decorate it, personality angles and impious gibes at national heroes help sell it. And a racy Gallic sauce-far hotter than anything U.S. tabloids dare dish out-flavors it. For balance-or to confuse the reader-Corre has printed Steinbeck on Russia, and serialized such books as Mr. Adam...

Author: /time Magazine | Title: The Press: Where Is the Tra-La-Lo? | 2/9/1948 | See Source »

...many had the strength or the spirit to offer complete resistance. Ambrière was one of 4,000 Frenchmen (there were also 300 Dutchmen and 200 Belgians) who were sent to a special camp in Poland for bitter-enders who refused to do any work for the Germans. When the Russians got close, these prisoners were returned to Germany, where Ambrière's group was liberated by the U.S. Third Army...

Author: /time Magazine | Title: Hope & Oblivion | 2/2/1948 | See Source »

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