As President (1913–20) he strove to keep France united during World War I and in 1919 supported stringent reparations against Germany. When Germany defaulted, he ordered French troops to occupy the Ruhr (1923) until Germany paid. He could not sustain this policy and resigned in 1924. Reappointed Premier in 1926, he lessened an acute economic crisis by introducing a deflationary policy, balancing the budget, and in 1928 he secured the franc at one-fifth of its former value.