The New York herald., 1871-12-26

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FRANCE q
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A Crisas Appreachisg-GsIA the Cry-Fisas:
clal Tightuess-Lssksas fer Celn-Tse
Prsple Useesy-Cspaparissn Betwecn ths
Present Covernmeat aud What she Msnarcby
or the Empisc wssld Ds. y, ~ s,rov
~ aAiaftNH snnaR't y s PAREs, Dec. g 1871.
Only . short time ago the whole world. the old as
well as the new, WINS amazed by the colossal pecu.
mary resources OF France % they Appeared after
nearly O years. foreign invasion and civu weE Tue
nrst inslalMents or the Prussian Indemnity were
paid on with rapldity that puzzled Prince BIS.
Marck himself and caused him to say that the
greatest blunder he ever made in his life was to
postpone the payment Of the three remaining mil
liards for another three years the loans brought
forward were covered several times by patriotic
cltaens anxious 70 s. see y the forts ol around
Pax1s evacuated, IS well as by foreign capitalists
dessrous OF Investing their money with people who
showed sucn an unexpected degree OF well-being
and unvanquished prosperity. Yet only . few
months have elapsed since these days Of general
amazement and NO see that not only The faith or
foreign capitalists has been shaken. but that all
over the country the greatest a8.ss4r6 le4sr
~ 81, ts4 MIsrRusT AND PANIC ~. gst7,
have taken the place Of what seemed but recently the
greatest confidence In the resources OF the country
and the soIidity OF the government WHAT can De
the reason OF thisf "G0ld - gone" say people.
But then there countries which scarcely ever see
any gold-as Italy. for instance or Austria. or Rus
sia Yet confidence prevails, - usual and business
Is going ON without anv sort OF intermssion. The
Russian socalied silver ruble (which Ia In reality,
the sasae as . paper ruDle) had fallen as low as
seventy per cent during this century. A change OF
the whole monetary system has been objected ac-
cording to the market price OF the governmental
assignats. People who had an income Of $500
rubles . year were one morning awakened BY the
1000 rubles; yes NO revolution OF any sort took
place, LIE Is going on as 1t did formerly ana the
quests In Asia and 10 Garry ON hls trade his politics
and has loans IN Europe. Nearly the same thing IS
entering snOp 10 ~ ysnns Win french sMensy
franc piece or Prussian Freidrichsd'or can buy
many small Things and get IN addition the full
change Of has coin In Austrian notes, as II ne had
bought nothing at all The factis that people get
accustomed 20 bad state OF their finances just as
chimney. What they LOOK for IN the money they
take ~ not ~ puch lts real value % the degree
the notes Of the Banque Do France could never be
had In exchange for provincial paper money, and
were often refused even "a exchange for gold and
enemy. Yet inc Banque de France was then In q
state OF siege and IN the hands OF the Commune.
curity. People knew that both rho war and the
Commune must come 10 An end some tay and that
Of a legal governments whose arst duty II would be
to take care. OF the banks creditors. Now, when
all that mas been apparently arrived At when order
nlty paid Oh, aa Assembly elected, man celebrated
for his financial erudltion placed at the Ministry
fortune (M schnelder placed az the head OF the
soethS wsnssd 10 make them seeye e,s1S that the
twenty franc notes they have In their pockets will
provide them at any dmo with something Of equal
s'.S''e THEIR POSITION Is MUCH WORSE NOW
than It ever was even at the time OF the greatest
war cal0mtttes. There were times and places dur
at ALL bul il tang was to be had it could Be paid
s aps way snS H. rsa g
posed 10 have resumed It's usual course everything
y saSSss mo e e moss il s podss
iane Az a,sos,soa svsos .Sss, ss -
money, as II there was sort OF suspicion that he
was dealer IN false COIN; and as this happens to
disc0nteht beconles general and turns into o posi-
tive plague. whether you want . loar
swas Sse1a Same ws are nero gsu
pay Mlshr M or & Lave you chaSngei S =, Ine weather
SnS M oO 20 nsS
courtesy characteristic OF his occupation. You are
refused ticket 20 the railway terminus wnen you
fractions Of 6aas notes are called S NOW, ~ what
must be yOur state OF mind and leelings and what
e fnow o ne Chairman OF %nsn
company Is the very same M. Alfred Leroux WHO
issuesthe notes OF the Societe Generale In his ca.
pacity Of member OF tue council OF that society :
II this financial authority has confidence iu It's
own signature can You have II, or can any one
q whole day in looking through all the
papers N search Of an explanation Of the
about oudget equilibrium or about the legal aspect
OF the question whether the bank shall or shall not
a an yo s
NJ Schneider have agreed 1t seems. TO remove, at
least 70 certain extent me nuisance Of small un
small notes under 2oi.) OF their own aud TO In
crease considerably, should the Assembly allow It.
the amount 0f notes IN circulation. But white this
Is very Likely 70 facilitate ITO some extent trade
transactions ~ viii not alleviate the bother OF daily
main 70 be changed somehow Tor petty expenses
Besides, an additional issue Of bank notes viii ia.
ana for country which has such enormous pay.
meats 90 make abroad AS France now the fall OF
exchange means always an increase OF opposition
THE aup6Er WINCH FRANCE VAS TO xEEr FOR 1872
win rcach at least the colossal sum of two aud a
haif mllfaras, without Including either the In
teresL upon the three milhards or outstanding
indemnity or the compensation 10 he paid 10 the
invaded departments or inc yet stii unknown
bills Ior reauisitiens ana military supplies during
me war. OF the Interest % he paid upon the sums
due 10 the Bank or France, and many Other smaller
items which II would oe impossible TO enunleraie
here with anything like precision. For all that The
lakes ana duties alone are utterly unable to pro.
vide the necessary amount Of money. Increased to
lnis maximunn tney are sure TO lead to an over.
thai is wanted. several great loans must mere.
fore, be made at once; yet tue government ~ so
ut home or a,,road rnere being ut present no
sort OF safety for the lender, interest," however
Ists from abroad; white at heme every man
that mad money TO spare las long ago sent II TO the
foreign nanKers a1a wi! take back only when his
certain amount Of security. he can expect political
and social advantages 70 himself In addition 10 his
yearly interest. Now, the present government mas
no party Ia the country, and can never form one
since u does not Anow Itself AS Jet how far ega
or dutable. M4 tf3t2 slN1 ns s. *0b ifftNN
fl4 a aet IT W TOLERATED 10i i& gea \
or supported only as policeman ~ IN a disturbed
city ana Whatever may Ape tue vintage OF unefs
cnging 10 sucn n functioBary 10 moment uf dsu.
ger one Is not likely " trust money 10 nm. In
TACT, s. ff.,.N *e a.<t1 .. Et