1937-08-23 — Page 6

C

THE HONGKONG TE LEGRAPH, MONDAY, AUGUST 23, 1937.

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The

ber the time when France really balanced it.

Money?

our

families of the Regents of the Bank of France kept in the saddle until 1936, when Blum's Popular Front Government made the bank a Government organi- sation, gave all shareholders an equati voice with the ""200 Families" and robbed the Re- gents of their power.

Until then live of the Regents representing five banks were of Swiss origin. Said Napoleon, who welcomed foreigners, "France lacks men who know what a bank is; this is a race of men whom we must crente." When the Regent bankers and industrialists used to meet in council there was not an inch of economic territory in France that

So don't envy the new mu ed to France that out of Ger- snorls: "No more overdrails, they did not control.·

WHAT irked the critics of who sits at this desk as the new many she was going to get the economy axe must be wield-

the Bank of France. Governor of the Bank of France, nothing like as much in repara- ed, we must live, within

income, and new and heavy taxes before Blum tackled it was a Yes, M. Pierce Fournier has tions as she thought in 1919.

rule in the appointment of the one of the most interesting. On top of that, the two kind must be paid."

That is a brief story of the governor, whose signature was hardest, and certainly one of uncles, Britain and America, also

necessary before any important the biggest jobs in Europe. ceased dipping in their pockets franc,

to help out France. So the

HOW does it happen that decision could be made.

Now, Napoleon's Act said that TALL, thin, Stalin mous-

the French, so thrifty Budget remained unbähineed. - tached Pierre Jean

Something had to be done. in. their individual lives, are so "before assuming his duties the Fournier is forty-six, father of three children, does not smoke, Like Jacks-in-the-box, Radical careless about their national governor must prove that he Governments came and went purse? As I say, they have a holds 100 shares in the bank." drinks very little. He wears between 1924 and 1926, turned legacy of disorderly government in Napoleon's day a

Hongkong Telegraph. V

MONDAY, AUGUST 23, 1937.

ANTAGONISING

ALL NATIONS

Japanese affairs declared that He added: Japan wants war. "The Staffs are the real power, and the time will come “when

room

as

nte

Bank of

their

dark, ill-atting clothes, but

franes, but now is worth 10,000 Governor of the Bank of France ul, some said, by the mighty insting from the old kings of France share was worth 1,000 and what Treasury sits in a room like a woman's power of the Bank of France, France.

Also in France nunny blamed franes, boudoir (a princess once used it whom they refused to obey.

Who could save the franc- the Bank of France. They saw official, acidly asked the critics, # million as such) at a desk used by the

it 18 # sinister institution, had at his disposal financial boss under King Louis that is to say France?

TO the bedside was called though others regarded it as the frages, (£13,500) ?

So what happened under the The walls of the

The Regents sold war-time President of model of righteousness,

The real rulers of France, old system? covered in pale flesh-pink silk, the Republic Raymond Poincare,

the directors the shares on credit to and you enter it first through whose professional capacity had some said, were tall padded silk double doors, not been enhanced by his inspira- whom the French call the Re- future controller. And, said the then through high, carved green tim of the Ruhr adventure, Kents of the Bank of France, critics, it was not good that the floors.

But 40,000,000 Frenchmen fifteen of them elected by the governor should became a debtor

General Council of shareholders of the Regents.

that if 11 On the governor's desk are couldn't see anybody better.

They argued twenty-two telephone switches, Poincare started to put the the famous "200 Families of Some years ago, a student of three of them white-direct pri- patient on a rigid diet : un France France," so called because they governor, in a dispate between are represented on the Council, the Government and the Re- vate lines used for the most felt his heavy hand, and finally Though there are 40,000 actual gents, sided with the Govern

find himself seeret conversations with the he balanced the Budget, after a shareholders of the bank, only ment, he might

debi faced with a claim for secretary-general of the bank fashion.

the 200 largest have a voice. and two under-governors.

For a time France was sitting

The Act of 1803, signed by which he could not pay.

ND it was true that the ΑΝ Your eyes focus as you enter

1931, while the rest of the world fifteen Regents must be

Bank of France could they will assume that. power on the high and intellectual foren ion of the world. Even in Napoleon, ruled that five of the

head of the governor.

wallowed in the slump, France nected with commerce or indus- break any Premier it didn't like There will be plenty of lines

was sitting pretty.

But the plague of the world try, and three from the Trea- by withholding credits from the To mention one, the on it by the time he's through

sury. Since the lawyers forgot Treasury.

a panic which with this job.

With M. Georges Bonnet, the crisis could not leave France un- to mention the other seven, the bank created

Inched. Through the 1930's bankers took six of them. overthrew tall, Anglophil. Pierre From then a real hereditary Etienne Flandin when he refus Finance Minister, for the next she went rocking from crisis to few months he will sit at the

aristocracy of banking began. ed to obey them. bedside of France, once more the

Well, Blum has slightly clipped sick man of Europe.

WHEN France's First Fathers did their best to pass on

Socialist Prime Minis- their seats to their sons, and the wings of the Bank of France, but that does not make the new But only sick financially, for

willowy, aesthetic Leon succeeded.

The Rothschilds-yes, they taxes any easier to bear. France is still one of the world's ter,

France is in for a period of richest countries, though a bad Blum, took office just over a year

ago, the French purse was in a are in France, too-had a seat

since 1855; the Mallet family belt-tightening such as she has bar way. manager of her money.

But he went on spending, and since 1800-one of their ances- never known. many of the reforms he under- tors was on the first Council of

#N

openly. Japan will then march on China, not as an Army, but This forecast # uation." may be taken as fulfilled so far as the assumption of power by the military is concerned, and the nation is reported to have heen keyed up to a pitch of enthusiasm in which it regards expansion as a mission that is divine. No limit, it seems, is placed on that expansion, for it has been put forward as a

THE old kings of France,

crisis.

CON-

the absolute rulers, be gau-the business by plunging their country into one war after took were long overdue. How Regents set up by Bonaparte in another, killing the liberties of ever, they cost money, and when 1800,

he quit French finances

Japanese axiom that there is no natural territory, any more than there is a natural size of an the people, and preventing them estate: the ability to govern from developing decides the frontiers of a coun-national life.

the

near collapse.

were La Belle France, in the last

130 years has seen three revolu

five times. Bul the

Emrys

Jones

ARE YOU A SNOB?

can

If you

no to all say these questions you

an orderly Then in steps Georges Bonnet, tions and changed its political They made the French Revo- new bank manager of France, systemi try. This may have seemed, a lution which shook the world but few years ago, an exaggerated did not bring France out of the statement of Japanese ambi-financial chaos in which it had tions, but present-day happen- learned to live. ings would appear to justify the The old kings debased estimate. There is, none the coinage. The Third Republic, less, an element in Japan which formed in 1870 after the col would prefer that common-sense lapse of the Second Empire, has lived on overdrafts, like the should prevail over military

foolish young man who hopes to monomania. Unhappily, that

come into money some day. element cannot be vocal and does not exercise any real in- fluence over the nation's policies. The time may well come, how ever, when the morale of the people may be shaken by the France, and the franc gets into Later, a person belonging to the lower classes. mad adventures of the mili-more difficulties than the most one whose ideas and conduct are prompted by vulgar tarists; it may then dawn even mischievous boy.

admiration for wealth and social position. on some who are now in the

NOW this is the story of grip of war fever that the flout- ing of international law does not

For the last hundred years France's public expenditure has; been going up, but her income has not kept pace with it.

So any morning now you can read of a financial crisis in

the franc:

Into the greatest war pay in the long run. The strong in history marched France with British comment which has been a united people and an

a feature of recent editorials balanced Budget.

are not - but you're a miracle

Arrive late, explaining you had RE you a snob?

definitions: 1865,50 many other engagements? Dictionary's

of Departing, 503. "So sweet Oxford

gownsman. you," in a voice that means "You Cambridge slang for any one not a

Now, poor litle thing"?

to your Pay special attention grammar when you talk to some- body richer than yourself? WHEN YOU TRAVEL

Do you!

WHEN YOU DINE OUT Insist on the most expensive wine, even though you can't Argue with the walter about the quality of the soup, to impress people| tell it from a cheaper kind?

neighbouring tables?

W12-

at

Complain that you're not at the best table?

Eat things you don't like because they are supposed to be fashionable? Over-tip the waiter If you're entertaining somebody you've never

met before?

Do you: Arrive late and take your way, getting settled?

Do you: Go Orst class when your can't afford it?

parties AT HOME

of your visit

appearance of

Do you: Pretend, if your mald Laud the services of your tailor? Discuss the cruise in a private is out that you are she when you yacht that you missed?

Monn about the tiresome rush

Make apologies for sailing tour- to other tourist- ist class in bouts Between 1914 and 1918, of in the London press is indicative courac, it was impossible to rake

class passengers?

on first-class Spend your time Talk about how the head waiter served you better last time? ..About Mon, 30th Aug. of the view which is being taken in as much money as was spent.

Commiserate with your hostess deck if you are a tourist passenger? in responsible quarters of the To help France out, her good!

on the probleins of living in her

Broadcast accounts recklessness of Japan's actions friends, the Allies poured mil- AT THE THEATRE

neighbourhood?

Make subtle boasts about your to the captain?

Worry about the in the Far East. By one folllions into her coffers, and, of

husband's income? stroke, Japan is wiping out the course, the idea was to "Make time about getting down the gang-

Call well-known people by their your logoggge? prospects of better relations Germany Pay" at the end.

Now after the war man learn-i Throw your wrap back over your first names?

Describe the magnificent with those nations of the Wested that a defeated foe can't pay; seat so that the people behind can

you give? which have been unduly tolerant but France gaily went on spend not read its label?

assumption of in the past but which have hopeding on the that, with the tearing of Man- "expectations" from the Ruhr chiria from China, her appetite coalfields.

Then the fallure of the Ruhr would be appeased. journal points out, it is not only invasion round about 1924 provlightly because they are more im-glories of your family? China's sovereignty which

Try to be the Brat out, pretend being violated in Shanghai, but of Western nations, as there is ing you are late for a distinguished British and other foreign into the patience of China. That party? terests are inevitably suffering limit has been almost, if not IN na a direct consequence of the actually, reached. Before mill-1 Japanese invasion. These things tary madness goes any further, PEOPLE'S HOUSES

There Japan would be well advised to cannot pass unheeded. must be a limit to the tolerance stay her hand.

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COUNT THE

“TELEGRAPHS"

EVERYWHERE

As one

la

Brandish opern glasses? If you're in evening kit, avoid are not, people you know who during the interval?

Gual over people you know only portant than you are?

Di

partles you have to attend? Make references to

the

past

OTHER

Say condescendingly, "What

littlo coffee pot," and then sweet

own Georgian silver? launch into descriptions of your

Ignore women guests who are not the best dressed at the party?

answer the telephone?

Roise a rumpus aver minor errors of a servant?

when

Wear disreputable clothes guests are coming, because they are not your social equals?

Dress up to the ears when some-

think you body

18 important coming?

Neglect shabby guests and de-

Look bored while your hostess vote yourself to rich ones? talks about her children?

Insist on leading the Converen- Show off your knowledge on sub-tion to your etchings, or your the others know nothing garden, and their respective supe-

about the Do you: Talk service you maintain at home?

fine Jects

about?

riorities?