Word: poincares
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Premier Raymond Poincarè, who also functions as Finance Minister, issued a statement to the effect that he was "working upon a solution of the question." The great difficulty involved is 1) to get the Chamber and Senate to approve the Mellon-Berenger accord without a safeguarding clause (entitling France to stop payments to her creditors should Germany cease her reparation payments) or 2) to get Washington to accept the proposed safeguard clause...
Thus it was argued that M. Briand might still be suffering from eye trouble-not trouble with his own eyes, but trouble from the stern eye of Premier Raymond Poincaré-an eye that glares discouragement on what it considers the too liberal, too pacifist policies of the squat Foreign Minister...
Coincident with news that France intends to float in the U. S. a refunding loan of at least $100,000,000 came an announcement that Prime Minister Raymond Poincaré, popularly known in France as "Papa" Poincaré, had in the last year lopped 14,000,000,000 francs (about $547,400,000 at present rates of exchange) off the state debt to the Bank of France...
...last year had a margin of only 150,000,000 francs upon which to draw, today she has 7,350,000,000 francs at her disposal in a currency worth nearly double what it was. This improvement is due: a) to the daring reforms put into effect by M. Poincaré, recently dubbed "Master of France," who not only has been a financial wizard but virtually a fiscal dictator; and b) to the patience of the people of France...
...account of her financial instability and the fact that the Mellon-Berenger debt accord was not ratified by the French Parliament, France was obliged to pay 8% on some issues floated in the U. S. Now, pointing proudly to the achievements of a year, M. Poincaré proposes to borrow money at a cheaper rate to pay back the outstanding indebtedness to the U. S., thus saving a considerable amount in interest...