The economic and financial accomplishments of J.-M. Musy are particularly important, as
they are situated during a difficult period for the Swiss Confederation. "The come- and-go of crises, various personalities, devaluations, currency movements,
social unrest, complicated problems to such a point that solution choices constantly required agreements between the technician and the politician (Gaston
Castella)." In 1925, Mr. Musy was the driving force behind the mintage of the beautiful and unique 100 franc (Vreneli) gold piece.
Amongst the many accomplishments of the ex-President of the Switzerland, the following should be mentioned:
1) Plan to restructure the Federal finances (1919): the first world war and the economic crisis which followed accumulated a budgetary deficit for the Confederation which surpassed 100 million francs. Mr. Musy knew how to reduce little by little this debt and reduce the deficit to restore economic balance. To obtain resources, he proposed taxes on alcohols, beer, luxury consumption and on tobacco.
2) Wheat regulations (1929): The question concerning supplying the country with cereals was always one of the front-line of the preoccupations of the Swiss Confederation. Mr. Musy was in opposition to the wheat monopoly which dated from 1885. He had to show himself as a clever promoter of new customs tariffs which protected Swiss farmers from foreign competition. He said that "it would be a utopia and a deep economic error to want to extract from the Swiss soil all of the wheat and sugar necessary to feed our people. This provisional tariff, in its general presentation, is only to provide to the farmers with an indispensable protection to ensure conditions to support a normal existence."
3) Alcohol regulations (1930): "It was a matter of erecting a dike to slow the flood of unregulated alcohol distillation which poured onto the country each year." One of the goals of the legislator was to build a buffer to deter the frightening ravages of alcoholism. The courageous campaign which he led would provoke many debates, particularly amongst the farmers, and this was a tribute to his independent character. Jean-Marie Musy said: "I see in alcohol much less of a fiscal target than a public danger." The alcohol tax reduced consumption by 54% in 20 years and reestablished financial balance for the Swiss Confederation. This alcohol reform is one of Mr. Musy best work and earns the recognition of citizens.
4) The monetary plan (1931): the Swiss franc, as with other European currencies was ill, during which balance of payments were in disequilibrium. Countries in Europe had to chose between inflation or disinflation, and Switzerland did not escape this serious dilemma. To defend the currency and not to devalue the Swiss franc, Mr. Musy said: "that sales income must be lowered by a readjustment in prices and salaries. This readjustment will operate in Switzerland without recourse to price control by the government. The appeal was to common sense and to courage of the Swiss people so that "it will be not take the easy road which leads to the precipice."
5) The ordinance for government workers (1931): Mr. Musy knew to appreciate human values vis-à-vis economic values. He worked on a Federal law on behalf of the government workers to improve their living conditions.
6) Laws regulating Banks and Savings institutions (1934): Jean-Marie Musy was the driving force and the true writer of the Federal law to give financial stability to the national community. This law insured the financial stability of banks through mandatory and serious control by an independent auditing institution.
Jean-Marie was always concerned about the economic prosperity of Switzerland. He said
about those who lacked courage "... those who wait in immobility the return to a past that will never return; I believe neither in destiny or in fatalism, in return I
believe strongly in the power of creative intelligence, supported by a resolute and courageous determination."