Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-04-22
FRENCH CURRENCY.
Letter from an american in Paris.
Pans. AuGUsr, 1893.


The hard money Cavern ment of France has ot,cn
been quoted in the Uned States as pattern nj
/ safety aud convenience 10 be adapted there. Be-
aides, however the lesson which is being iaueh i To
the world by Frenchmen themselves, IN their lac
and multiplying measures for establishing n mora
extended paper currency by the institution Of banks
upon very much tire same principles with those.
existing IN the United States. have myself had
frequent illustrations Of the operation, upon indi-
yldnal convenience Of this arI money currency sys-
ten here No bills issued by the Bank Of
France of a less denomination than J00i. say 100
All the remainder of the currency is in gold silver,
aud copper. This is all very safe, beyond question.
But when come to the matter of convenience,
the story is very different. Eighty dollars even. in
silver is no small matter for To carry in his
brecchcs pocket. The puts ii in the pocket of his
coat tail he is scarcely better accommodated. IN
the Que case he will find his suspenders ready TO give
ont every step, il this pocket itself does not; and
if his trowscrs Of thin material. suited to sum-
mcr's day. he will dnd himself lucky il coo1ly
portion of them be carried away by the burden.
In case the coat poke, be restored to, it will
give the weafer the Appearance OF one sided,
rheumatic, OF distorted person besides, the dangling
load will swing TO and fro upon him like n dog wjths
pair Of shears suspended upon his tail. And. yst
$50 is not a large sum for one TO desire 10 have
bout linn in making his excursions through n city,
either on business pleasure. Truly, he my
eyc his clio Ties olihc jog by having bag or pouch
10 cary 10 his hand. But on a day of questionable
"
Ia is no, SMALL aud, il added to this bag Of mciallcI
coin, the odds in favor of losing one or both would
not be small
But why rot take gold, which has but liiIe bulk
and not great weight IN n sum that will answer alb
ordinary purposes. Sure enough--hut then ono
must buy gold in order get it, though he may be
faded duwn with silver. and even in this old country
Of metallic currency. This demonstrates that, ,o
all we wii still gold will remain Article of traffic,
and not an article Of currency exclusively. Take
instance have TO day paid FOR small purchase
made in the Palais Royal, the centre Of business
transactions; ii amounted 10 202 francs only or
say $40. | had but lillc more than Sl0o in my
pocket, and that consisted mainly ois 500 franc bill;
This handed to The tradesman, and he returned me-,
of ucccssity 800 francs in silver. But said don't
burden thus, the weather is oppessively hot. and
| have already broken my suspenders once to-day
+ in attempting 10 carry about me your heavy meta
currency. Pray give me gold. II ] must have
coin. o, yes, he replied, but | must send a few
! doors distant and buy it for you. | could not a
void The Alternative, and the gold bought, at an
expense, ii is true, of only fsy-fi'e cents for the
| 500 that was due me but APPLY illustrating both
the Inconvenience and expense to common people
of a system ofhard currency, that is, nevertheless
! hy no means system of exclusive hard currency,
/ The man who deals only in hundred dollar opera
tons, and from that up to thousands, feels no in-
convenience or expense from such system, Tor he
is not touched by it at all. But it bears upon the
smaller class Of deaers-the every day matters, and
such as appeian both that class Of individuals
and that class of trade which is least able TO beax
such tax. am sure that, reason one may on the
theory ofa hard currency. even as low as five doh:
lar notes and contrast il with the Inconvenience ana
expense ola currency much more metallic, as II ex-
lists III France he will be persuaded that fora people
like ours in America and even for the French people,
such paper currency is f.r the best. aud preiera-
BILE in every point oiview
1t cannot escape observation that the institution
whose credit safe for bills Of the denomination of
SEQ francs must certainly be safe for bills Of only 25
or Of 50 francs EACH Ii bank can be made to act
honestly relative the former class of bills certainly
il can be made equally honest IN regard 10 bills Of thc
latter class. Aud hence, more depends upon shs
men administering any system of banking that may
be determined upon than upon the mere elements Of
the system itself.
A private banking company here issues bills q S''
francs.