Word: schuman
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...Mayer last week. "We had to smash the window with a single blow." Mayer chiefly meant that, without devaluation of the franc (TIME, Feb. 2), French recovery would have been stifled through inability to sell goods abroad. But for a few days last week, Rene Mayer and Premier Robert Schuman had French Socialists at their throats. As advocates of dirigisme (directed economy), Socialists did not like the breeze of free enterprise that threatened to blow through the smashed window...
...Socialists blasted the proposed law to set up a free market in gold. To Premier Schuman and Finance Minister Mayer, the free gold market was the lodestone that would draw hoarded gold and hidden assets from buried iron pots and foreign banks. This in turn would stimulate production and provide a stabilizing base for currency and foreign trade. To the Socialists, the 25% fine to be levied against hoarders was inadequate punishment for unpatriotic speculators...
...Bitter Pill. Less than ten hours later, the weary legislators returned to vote on the gold proposal. Premier Schuman staked his government's survival on the measure, gave the Socialists a clear choice. With the Communists and the Gaullists eagerly waiting for the coalition government to prove its incompetence to rule, the Socialists decided to stick with Schuman. Schuman's margin: a comfortable 98 votes...
...Fund, to which both Britain and France belong, was set up to place some controls over governmental currency manipulations. Despite the objections of both the Fund and London's Chancellor of the Exchequer, Sir Stafford Cripps, Premier Schuman's government decided that this hand had to be played alone if necessary because of the fall in exports. The squabble will not help ideas of West European unity along in the face of the worst economic crisis since 1932. But the worst blow will be dealt to the hope that the bank would replace the economic law of the jungle with...
This was revolt, almost. Premier Schuman, beset from left & right, knew that his government could not survive a sustained revolt of the bourgeoisie. Conferences were quickly arranged between Gingembre and Finance Minister Mayer. M. Schuman announced that the government would try to cut the budget...