Word: quesnay
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Looking more like an alert, smooth-shaven U. S. businessman than ever, M. Pierre Quesnay, youthful manager of the Bank for International Settlements (TIME, April 28), received at Paris last week the formal ratifications by Britain, France, Germany, Italy and Belgium which make operative the famed Young Plan of German Reparations, or as they are now called "International Settlements...
...general manager who will figuratively shovel out these tons of bonds may be a "boy"' but is ripe in tradition. King Louis XV of France was "carved" (as His Majesty expressed it) by Surgeon François Quesnay (ancestor) whom the monarch nicknamed Le Penseur for his philosophical cast of mind. The present M. Quesnay might be called a "career man" of the Bank of France. He functioned as chief French technical advisor last year when Rumania's Leu was being stabilized. At the first and second Hague Conference he prepared the whole documental background of the French...
...Pierre Quesnay is the enfant terrible of the sedate Bank of France. He is only 35. He refuses to grow a beard. Among his hirsute colleagues the rise of this "boy" is considered almost a scandal. In Basle, Switzerland, last week the august board of the new Bank for International Settlements (B. I. S.), formed as "The Cash Register of German Reparations" (TIME, March 25, 1929, et seq.), solemnly met and all but unanimously elected Beardless Pierre Quesnay to be general manager of the bank...
...vote cast against M. Quesnay was Germany's (caster: Dr. Hans Luther, mild successor to brusque Dr. Hjalmar Schacht as President of the Reichsbank). In the first place Germany does not want a Frenchman managing the B. I. S.; in the second place German financiers particularly mistrust a "young man," have often muttered objections against the youth of Seymour Parker Gilbert, 37, protégé of Owen D. Young as agent general of reparations...
...business of the B. I. S. will include the actual printing and sending forth by General Manager Pierre Quesnay of more than $300,000,000 in German reparations bonds within the next few weeks; and in subsequent years, as the markets of the world are able to absorb them-approximately...