Word: moret
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Dates: during 1930-1939
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...privately-owned Bank of France looks and smells like a miser's snuggery. Last week the Bank of France's fusty servants, aging pensioners of the world's second largest gold hoard, gloomed darkly over their frugal supper. Their beloved master since 1930, M. Clement Moret, the National Tightwad and, as such, a national hero, had just been kicked upstairs from Governor of the Bank of France to Honorary Governor. He was going to receive the Grand Cross of the Legion of Honor, and soon a lesser tightwad would replace him, hélas. To the fusty...
...Premier Flandin who kicked Governor Moret upstairs. The majority of the stockholders of the Bank of France, more than half of whom own only one or two shares, have almost no authority, almost no function except to receive dividends. They receive a yearly dividend of some 300 francs on their 1,000 franc par shares which sell on the Bourse for some 10,000 francs. To the heirs of Frenchmen who bought a share at par and tucked it away in the family stocking when Napoleon I founded the Bank of France, the return on investment is thus...
Specifically old Governor Moret was dropped last week because he rejected a proposal by Premier Flandin to give business a shot in the arm. The proposal let the Bank of France announce that it will re-discount short-term Treasury bonds, issuing new currency or opening deposit accounts against the paper received. Since this operation in effect reduces the gold cover behind French money (now 80,1390 it tends to be inflationary. To M. Flandin's proposal M. Moret had but one answer, a quiet "mais non." Last week there was every indication that M. Tannery will...
...banker with the Mephistophelian beard, Governor Montagu Collet Norman of the Bank of England, wrote a private letter to Governor Clément Moret of the Bank of France several months...
After a few words on the World Depression, which France is beginning to feel slightly-M. Moret prefers the phrase "attenuated prosperity''-he said sharply...