Word: reynaud
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Dates: during 1930-1939
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Finance: Paul Reynaud...
...some time he has been the brains behind France's Finance Minister Paul Reynaud, in his effort to stop the flow of gold from France to the U. S. In the process, Mannheimer's health broke, his weight dropping from 264 to 143 Ibs. But Paul Reynaud was grateful, served as best man when, only eight weeks ago, the dying financier surprised everyone by marrying a tall, dark, 21-year-old Brazilian girl named Marie Antoinette Reiss. The marriage was as doomed as Fritz Mannheimer's bank. The groom had a heart attack during the ceremony...
Excuse for last week's action was that France could not afford to hold a general election, with its attendant publicity of the divisions of French political thought, while it was engaged in a "white war" with the Axis powers. Said Finance Minister Paul Reynaud, author of the French three-year economic plan which will also run until 1942: "Today ... on the threshold of the most perilous period of our history, I am sure that nobody would do anything to weaken France by dividing her. The bloodless war which is being forced on us, we can and must...
Last week, M. Reynaud proudly claimed credit because production had increased 12%; the excess of savings deposits over withdrawals was $113,446,500; and, most important, France's gold supply had mounted from 55,808,000,000 to 87,266,000,000 francs. And last week when the Government went into the market for a six-billion franc defense loan, Frenchmen expressed their confidence in the nation's finances by oversubscribing it in a few hours, breaking all French records for an issue of that size...
Actually most of France's industrial recovery can be attributed to rearmament and to slightly better business conditions throughout the world. Unemployment in France increased by 53,000 from October to February. Foxy Paul Reynaud boasted: "That amid the international events of the past few months France has been able to rebuild and increase her forces proves beyond a doubt the robustness of her economic organism, the solidity of her social structure, and the suppleness of her institutions." A more dispassionate judgment was the London Economist's which saw in Paul Reynaud's recovery no vindication...