Word: ren
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There was grumbling over the third devaluation measure of Finance Minister René Mayer-the calling in of all 5,000-franc notes. One farmer burned his, rather than turn them in and invite questioning. Black-marketeers and others, forced for the first time to disclose their holdings, scurried around selling their excess notes for as little as 200 francs. But honest Frenchmen lined up with their 5,000-franc notes and turned them...
After an all-night session of the Assembly, René Mayer partly appeased the Socialists. He proposed, as a blow at black marketeers, to withdraw all 5,000-franc notes from circulation. The balky Socialists swung into line. The Assembly adjourned...
Meanwhile, René Mayer's economic window-smashing had bewildered and frightened Frenchmen. Prices of oranges, chickens, beans, eggs skittered nervously upward. Many a thrifty soul with a sockful of 5,000-franc notes spent an anxious two days before he learned that the government would redeem his notes in full-if he could prove that he came by them legally. Said a Paris policeman: "This is a bitter pill, but we will have to swallow it. Let's hope it will save France...
...very pleasant," said French Finance Minister René Mayer one day last week, "to cooperate with a man who has as sane ideas as Sir Stafford Cripps." Nonetheless, he was not taking all Sir Stafford's ideas. This week, despite Crippsian objections, the French devalued the franc in a way that, Cripps thought, threatened the pound...
...About Town. Maurice Chevalier narrates (in English) René Clair's kindly caricature of early French moviemaking (TIME...