Foreign News: Shock Treatment

As they swarmed back from the seaside and the mountains last week, their August vacations over, France's wage earners got a cheery greeting from Finance Minister Felix Gaillard. "You will find," said Gaillard in a nationwide radio broadcast, "that price cuts have been made in household appliances, pharmaceutical products and a goodly number of articles that your children are going to need when school reopens."

Despite his optimistic tone, brilliant young (37) Fiscal Expert Félix Gaillard had really little to be optimistic about. While Gaillard's countrymen had been disporting themselves (and he himself got...

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