Oldal 4 [4]
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. What appeals in Pinay first of all is his simple and ho¬
nest economic good sense. His campaign for saving the Franc is
that way. And confidence is already returning. Despite the screams
of all politicians he dares to compress the budget. He dares to
call for a loan for those things that must be built as a lasting
investment. He gives an amnesty for all past economic sinse The
result is, that on the black market the Franc in relations to the
Doliar rose’ from 450 to 400 in a relatively short time. The price
of gold has dropped even more. And in his campaign for lowering
the prices he has been successful for the first time since the
liberation at reversing the trend, And all this in a few weekse
With that, so far, few compulsions have been used. Pinay talks with
producers, studies their needs, tries to gain their consent
for the lowering of prices, The party-press, tries to hamper his
efforts. They demand results within dayse They forget, or want to
forget, that they never were able to achieve anything of the kind,
They also try - egpecially the Socialists - to make the people
forget, that economic changes take a long time § and that the re=
versal of trends alone is elose to miracle already. The result of
this policy, coupled with Pinay's refusal to increase taxes,
is already, that public confidence is rapidly returning. The French
loans are rising on the stock-exchange. With that, there is still
a great potential left. After all, France has today in private
hands more gold than it ever had. Private fortunes today in France
are greater than they ever were 3; a bankrupt state faces a wealthy
nation, If Pinay, and he is confident he can, is able to bring
public confidence back, the inherent wealth of the country will
return to work and will save by its om strength the countrys
And this is getting under way rapidly, as ali the reports indi¬
cate, which pour into Paris from the Provincese
But this is just the beginning of the “expérience Pinay".
The Premier knows, that if the economy is getting sounder by the
hour, the political conditions leave much to be said. The governe¬
mental instability, the structural wealmess of the Fourth Repub=
lie is one which has to be remedied. Fundamentally Pinay believes
in constitutional changes, but he feels that to achieve them with
success one has to wait for those economic improvements, which,
in giving the salaries back their value, will create more well¬
being and hence more tranquillity. But the plans are already under
elaboration, In the same sense Pinay prepares for a large amnesty
to put an end to the present discriminations. He is pushed to that
by his friend Flandin, who continues to advise ahd help him
from behind the sceneSe