A Lesson In French Inflation (1959) by Melchior Palyi PDF

By Melchior Palyi

ISBN-10: 1169829422

ISBN-13: 9781169829428

This scarce antiquarian ebook is a facsimile reprint of the unique. as a result of its age, it might include imperfections corresponding to marks, notations, marginalia and mistaken pages. simply because we think this paintings is culturally vital, we have now made it to be had as a part of our dedication for safeguarding, keeping, and selling the world's literature in cheap, prime quality, sleek variants which are real to the unique paintings.

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4 Medium·term credits for the "rational utilization of energy" Total • Not included are the budgetary costs of public housing, of minor industrial investments, of the nationalized industries' operating deficits and of other "economic subsidies," nor the investments in Algiers and in the rest of the French Union. b Budgeted. C Non-military. [56 ] TABLE IV FRENCH MONEY SUPPLY, BUDGET DEFICIT, AND GOLD PRICE (IN PAPER FRANCS) End of Balliet Surplus (+) or Deficit (-) (billions of francs'" Mone, Suppl,.

The gold escalator on the Pinay loan of 1952 provides an example of government manipulation. In addition to being exempt from income and estate taxes, and embellished with a lottery feature, it was to be serviced according to the market price of the 20-franc gold coin, called the "Napoleon," approximately equal to four gold dollars. Whenever that price would rise over 4,000 francs in the Paris open market - the world's greatest market for gold coins and (smuggled) ''kilobars'' - the creditor would receive proportionately more francs.

But the workers are not the only class that "pays" by months of austerity for the years of prodigality. Virtually all classes of French society have to accept some measure of "punishment" in the interests of their own longer-run benefit and security. The overhauling of the French economy is well under way. With costs held within reasonable bounds and the competitive incentives unleashed, business enterprise should gain a sound impetus. Most important is the fact that confidence in the currency be restored.

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A Lesson In French Inflation (1959) by Melchior Palyi


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