The Golden Franc

In 1926 the financial condition of the French government and the exchange rate of the franc were in disarray. The man charged with restoring financial order was Emile Moreau, Governor of the Bank of France. This is his account, a day-to-day diary, of his two-year struggle for financial stabilization. Moreau's stories of dealings with heads of state, French politicians and the other important central bankers of the time provide insights into the politics of central banking.