Foreign News: Big Business at Basle

A banker must have a spade beard; it gives the public confidence. —French Axiom.

M. Pierre Quesnay is the enfant terrible of the sedate Bank of France. He is only 35. He refuses to grow a beard. Among his hirsute colleagues the rise of this "boy" is considered almost a scandal. In Basle, Switzerland, last week the august board of the new Bank for International Settlements (B. I. S.), formed as "The Cash Register of German Reparations" (TIME, March 25, 1929, et seq.), solemnly met and all but unanimously elected Beardless Pierre Quesnay...

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