Today -100: July 20, 1926: Doing the best with the material left

Édouard Herriot succeeds in forming a cabinet, the 14th since 1920, which will surely last a super-long time. It’s not the government of aaalllll the parties he promised (not all deputies from even his own Radical Party back it), and most of the major French leaders remain outside. The NYT’s very sceptical Edwin James notes that Herriot’s invitation was refused by Poincaré, Briand, Tardieu, Marin, and Barthou: “Therefore Herriot has probably done the best he could with the material left.”  It doesn’t inspire confidence in the financial sector and the franc continues its plunge. Radio stations are prohibited from broadcasting exchange rates and market prices, to prevent the spreading of panic.

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