No sooner did the franc begin to rise than Frenchmen began to fear it would rise too fast. Frenchmen, as well as others, who had to buy francs at a price higher than they reckoned, were forced to sell securities in order to meet their obligations. This caused dumping on the Bourse. And this nearly precipitated a panic.
But, in general, all Frenchmen rejoiced to see the franc go up, however fast. Monday,
March 24, was a day unique. The franc opened at a value of 5.37 cents, jumped to 5.63 cents, fell to 5.40 cents. Up...
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