Word: unpegging
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Last week the Canadian government upset the dope. Finance Minister Douglas Abbott, a plugger for free enterprise, managed to convince the cabinet that Canada should try the free-dollar theory, to unpeg her dollar altogether and let the price fluctuate according to the demand for Canadian funds...
Under new Premier Etienne Flandin's energetic drive for a freer French economy, the Chamber before adjourning for the holidays last week passed bills empowering the Government to unpeg the price of wheat in France. Zump!-the price dropped from a fictitious pegged price of $2.01 per bu. to $1.44. In stern orders to prefects all over France, Premier Flandin demanded and largely achieved last week a nationwide cut of about 12% in the price of baker's bread...
...Sent police and Mobile Guards against 20,000 furious French farmers who gathered at the Tomb of the Unknown Soldier and sang the Marseillaise in protest against Premier Flandin's decision to unpeg the French internal price of wheat. After the farmers had dispersed grumbling, the Government announced that within three months the price of wheat will be gradually unpegged, and French farmers will be obliged to report the area they intend to sow in wheat to the State which may curb any farmer who seems likely to raise over 100 quintals (367 bushels...
...closed all the nation's bacon factories, tried to force their help to accept a 20% wage cut. Copenhagen papers accused "Fascist elements" among the bacon men of a daring, underhanded scheme to beat down wages by so disrupting Danish finances that the Government would have to unpeg the Danish krone, pegged at present to the British crown. Promptly Danish laborites adopted a peculiar slogan, shouted outside the locked bacon factories^ "Rather join a live Chamberlain* than a dead Kreuger...
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