The Franc

The franc began to sag. Finance Minister Clementel reckoned that, during the past three months, 14,000,000,000 fr. (about $700,000,000) had been exported. That explained the downward trend: The French were losing faith in their own currency.

In the Chamber, questions were asked and questions were answered. Premier Herriot warned of a crisis. Said he:

"I appeal once more to the sacred union of all Frenchmen, regardless of party politics, for the defense of our national currency."

There was much talk of the amnestied ex-Premier Joseph Caillaux's return to politics. "Is he going to take over the Ministry of Finance?" was the question Frenchmen were asking.

Then, like a touch of pathos, light appeared on the horizon; Premier Edouard Herriot and Prince Charoon, Siamese Minister to France, signed a treaty of amity, commerce, navigation and jurisdiction between their respective countries.