Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1839-02-08
NO. %.

National lntelIgencer showes clearly the
advantages and convenience of Specie
Currency
Correspondence ofthe National Iaieiiigcneer.
FRENCH CURRENCY.
PARIS. August. 1888.
The hard money Government of Franco
has often been quoted in the United States
MS pattern of safety and convenience to DO
adopted there Besides however, the lesson
which is being taught 10 The world by Flen-
chmen themselves. in their late and multi.
plying measures for establishing more
extended paper currency by the institution
of banks upon very much the same princi.
pies with those existing in the u States, I
have, myself, had frequent illustrations Of the
operation. upon individual convenience, Of
this hard money currency system here.
No bills are issued by the bank Of France
Of a less denomination than 5OOf say 500.
All the remainder ofihe currency is in gold,
silver and copper This is all very safe,
beyond question. But when we come TO
the matter OF convenience, the story is very
ditferent.-Eighty dollars. even. in silver,
is no small matter for man to carry in his
breeches pocket. If he puts it in The pocket
of his coat tail, he is scarcely better accom-
modated In the one case he will find his
suspenders ready 10 give out at every step,
il his pocket itself does not and if his trow-
sers are ofihin material suited to summer
day. he will find himself lucky il u goodly
portion of them be not carried away BY the
burden. In case the coat pocket be resorted
to, il will soon give the wearer the appear-
ance OF a onesided, rheumatic or distorted
person; BESIDES the dangling load will
swing to and fro upon him like dog with
a pair Of shears suspended upon his tail
And yet $50 is no, large sum for one TO DO
sire to have about him in making his excur-
sions through a city. either on business or
pleasure Truly. he may relieve bis clothes
of the jog by having bag or pouch 10 car.
ry it in his hand. But on a day Of ques.
tionable weather the inconvenience Of car
.ying light umbrella is not small. and il
added TO this is bag Of metallic coin. the
odds in favor of loosing one or both would
no, be small
But why no, take gold. which has but
little bulk and not great weight In sum
that will answer all ordinary purposes1
Sure enongh-but then one must buy gold
in order to get il, though he may be jaded
down with silver. and even in this old coun-
Jury OF the metallic currency. This demons
trates that. do all we will. still gold will
remain an article Of traffic. and not an arti-
Gle Of currency exclusively Take an ill-
stance; have today paid fora small pur-
chase made in The Pasais Royal. the centre
OF business Transactions; il amounted TO
2O2 francs onl y, or say $40. had but lit
tie more than 500 in my pocket, and that
consisted mainly OF 500 franc bill this I
handed 10 the tradesman. and he returned
me oil necessity, 800 francs in silver But
| sad don't burden me thus, the weather
is oppressvely hot. and have already bro.
ken by suspenders once today in attempting
10 carry about the your heavy metal cur
rency. Pray give me gold. if must have
coin. y, yes, he replied but, must send a
few doors distant and buy it for YOU |
could not avoid the alternative, aud the
gold was bought at an expense, il is true,
OF only fifty cents for the $50 that was due
me but APPLY illustrating both the incon.
venlence and expense to common people ofa
system OF hard currency, that is. neverthe-
less, by no means a system of exclusive
hard currency.
The man who deals only in hundred
dollar operations and from that upto lho,i-
sands, feels no inconvenience or expense
from such system, for he is not tone he'd
by 1t at all But it bears upon the smaller
class OF deaers--the every day matters. and
such as appertain to both that class of indi-
| viduals aud that class oflrade which is least
able TO bear such a tax. | am sure that.
reason as one may on The theory OF hard
currency. if he will but attend to the con.
venences, cheapness. and practicble sccuri.
ty OF paper currency, even as low as Eve
dollar notes. and contrast it with the incon.
venence and expense OF currency much
moie metallic as it exists in France, he will
be persuaded that for people like ours in
America, and even for French people, such
a paper currency is far the best, and prefera.
bic in every point of view.
II cannot escape observation that the in.
stituion whose credit is safe for bills of the
denomination of 500 francs. must certainly
be safe for bills Of only 25 or of so francs
each, If a bank can be made to act honest
| ly relative 10 the former class of bills. GER
ltainly il can be made equally honest in re-
| gard 10 bills oflhe latter class And hence.
more depends upon the men administering
any system ofbanking that may be deter.
mined upon, than upon the mere elements Of
the system itself
"A private banking company here issues
bills Of $50 francs
According TO careful computation that