i,000,000 v. the Premier

1,000,000 v. the Premier

To drag President Roosevelt into court and charge him with malfeasance in devaluing the U. S. dollar in such fashion as to "cheat" holders of U. S. Government bonds is impossible, but under French law last week the French Taxpayers Federation, which claims a membership of 1,000,000 filed such a suit against both Premier Leon Blum and Finance Minister Vincent Auriol.

The specific act of malfeasance charged was offering to the French public "Baby Bonds" and then, after unloading as many of these as could be sold in France, cheating the bondholders by devaluing the franc and thus reducing the value of both principal and interest. The fact that MM. Blum and Auriol have admitted that while selling the bonds in France, they were carrying on simultaneous devaluationary parleys with U. S. Secretary of the Treasury Henry Morgenthau Jr. and British Chancellor of the Exchequer Neville Chamberlain, was held by the 1,000,000 taxpayers to be conclusive proof of fraud.

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