Word: frenchmen
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...protest the use of the term Wasp as the equivalent of "Americans of the old stock." There is a comparatively small but very proud and loyal group of people in the U.S. whose ancestors were both Catholics and Americans long before the influx of ethnic groups. They include Marylanders, Frenchmen in St. Louis and New Orleans, Castilian Spaniards in the Southwest and certain families in Philadelphia and other coast cities. Mr. Sargent Shriver is the most prominent man of this group at the present time. To refer to him as a "Waspirant" is as insulting as it would have been...
...lately been attracting affluent, middle-aged vacationers as well. Within the next year Blitz, 56, still the club's chief, plans to open both an inexpensive "family village" in Tunisia and a costlier, more comfortable resort on Martinique. Last month the club, which was founded mainly to provide Frenchmen with vacations abroad, came full circle. It agreed to manage four new vacation resorts for the French government. French tourism declined by more than 10% in 1968, and officials want to use the Blitz lightning technique to help attract more foreigners to the country...
...more mundane level, France's political malaise has had direct economic consequences. At the moment, France is seized by a giant buying spree. Fearing an eventual devaluation of the franc, Frenchmen are sinking their savings into goods. Two months ago, there were 10,000 color-television sets in all of France; now there are 70,000. Washing machines, record players and other appliances are being snapped up at a similar pace. Peugeot is receiving 500 orders a day for its most expensive ($3,000) model, the new 504, even though it can produce only...
Actually, the French economy is not as sick as many Frenchmen seem to suspect. Owing to tight currency controls, the huge speculative outflow of francs has been stopped. Some $500 million in francs has returned to France in the past month. Furthermore, despite the franc's recent weakness, France still possesses some $3.5 billion in gold and foreign currency reserves plus nearly $4 billion in standby credits from the International Monetary Fund and her Western trading partners. Even so, the nagging worry remains either that the austerity program will bring on a recession or that runaway prices will force...
...France's malaise are mainly psychological. As Charles de Gaulle this week makes his annual New Year's Day television address to the French people, he will very likely attempt to conjure France out of her melancholy. It will be a difficult task, since many disgruntled Frenchmen at present feel that the avuncular oracle finally has lost his touch, his matchless rhetoric its meaning. But as he has often displayed in the past, De Gaulle, the politician of catastrophe, can be at his best when France is at her worst...