Word: loucheur
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...cause of this "buying panic"-which did not assume dangerous proportions-was twofold: 1) Finance Minister Loucheur had just presented the Chamber with the first draft of a new tax bill expected to raise eight billion additional francs per annum, by increasing the taxes on alcohol, business transactions and practically everything else; 2) The franc slipped down last week to 27 to the $1, a new low record for the year. The relative stability of numerous foreign currencies, prompted the harassed Jean to transfer his currency into pounds, gulden, Scandinavian kroner, U. S. dollars...
During the absence of the Premier, the Minister of Finance, M. Louis Loucheur, had drawn up a stop-gap financial bill the provisions of which could be justified only by the undoubted fiscal emergency with which France is faced. Of all Frenchmen, M. Briand alone was thought to possess sufficient prestige to jam this bill through the Chamber and Senate. Its provisions : 1) The immediate issue of 7½ billion paper francs by the Bank of France; 6 billions to go to the depleted Treasury, and 1½ billions to supply the needs of commerce...
...addition a whole series of taxes "on all forms of wealth" is shortly to be proposed by M. Loucheur, to feed a sinking-fund for wiping out the internal debt...
Article by article the bill was debated, while M. Loucheur, always at disadvantage in public, defended it point by point, for 14 hours, in his high pitched rather squeaky voice...
...Loucheur's advocacy before the Assembly of the League of Nations of both the ill-fated Protocol and a plan for a World Economic Conference is of course well known (TIME, Sept...