Stavisky Affair

Stavisky Affair (stävēskē`), financial and political scandal that shook France in 1934. Serge Alexandre Stavisky, a swindler associated with the municipal pawnshop of Bayonne, sold huge quantities of worthless bonds. Despite a shady past he had connections with many persons in responsible positions. Faced with exposure in Dec., 1933, he fled but was discovered by the police at Chamonix (Jan., 1934); he either committed suicide or was murdered by the police. Extremists, particularly of the right, accused the Radical Socialist government of Camille Chautemps of corrupt deals with Stavisky and forced its resignation. The rightists further alleged that Stavisky had been murdered to protect influential persons connected with him. Édouard Daladier, the new premier, used force to repress bloody riots staged (Feb. 6–7, 1934) in Paris by extremists (chiefly royalists), but he too had to resign. He was replaced by Gaston Doumergue and a national unity cabinet. After a long trial (1935–36) of 20 defendants, none of them politically important, 11 of the accused, including Stavisky's widow, were acquitted. Some of the politicians so wildly accused of corruption—notably Chautemps—were later cleared. The affair had the unfortunate effect of discrediting not only the Radical Socialist party but also parliamentary democracy in general.

Bibliography

See A. Werth, France in Ferment (1935, repr. 1968).

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Stavisky affair

(1934) French financial and political scandal. When bonds sold to working-class citizens by a credit organization run by the Russian-born swindler Serge A. Stavisky (1886–1934) were found to be worthless, Stavisky fled to Chamonix and allegedly committed suicide. Members of the right believed he had been murdered to cover up complicity with corrupt government officials. Demonstrations against the government by antirepublican groups, including the Action Française and the Croix de Feu, culminated in a riot on Feb. 6, 1934, which killed 15 people. Two successive prime ministers were forced to resign; a centrist coalition was eventually formed to restore confidence.

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Stavisky Affair 

a financial and political scandal in France that aggravated the political struggle in early 1934. In the early 1930’s the disreputable financier S. A. Stavisky, taking advantage of his connections in political and journalistic circles and in the judicial and administrative apparatus, acquired great wealth through the sale of counterfeit bonds. Several government and political figures were involved in the scandal. Stavisky’s swindle was discovered in December 1933, and, according to the official version, he committed suicide after his arrest in January 1934.

Under the pretext that they were exposing corruption, fascist groups used the Stavisky affair to attack the parliament and the government. They succeeded in bringing down the government of C. Chautemps on Jan. 28, 1934, and on February 6 they instigated a fascist revolt. However, the fascists were repulsed by democratic forces.