Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1874-01-01

STIN, MOWER COUNT
tlemnity, how was France able to hand
over to Germany, in two years and "
half, 81, ,O76, 600, 900 in coin; for 1t was
paid in solid gold, every franc OF 1t!
shall try and explain.
HOW THE FEAT WAS ACCOMPLISHED.
In the first place. When the Gov
ernment borrowed from the Bank OF
France 1906, 600, coo, and authorized
the Bank to issue like amount OF
notes in addition to its former
circulation, it liberated from circula-
ton an equal amount of coin which
was no longer required fol the trans
action of business, as the new notes
performs it's functions.
Second-The Government not only
made the notes of the Bank legal.
tender for everything, including inter.
est on the national debt, and for duties
on imports, but authorized the bank
to suspend specie payments. The ef.
feet of this first act was to enable the
Bank to part with half it's usual stock
of coin and bullion. and this set at
liberty $3.50, ,000, 900 more gold and sill.
yer.
Here, then, was a double fund of
specie, amounting to $450, ,0OO, 600,
which could be spared without de-
ranging the finances of the natiou, and
sufficient to extinguish more than 40
per cent. cf the fine and interest there.
on.
zhsrd-The money was procured by
PUBLIC SUBSCRIPTIONS,
in two loans of about $54O, 900, 600
each. The bonds issued are called
Rentes. In England they would be
called Consols. There being no time
fixed for their redemption, they are
interminable bonds, and can only be
extinguished by being purchased in
the open market for whatever the hold.
ers are willing to accept for them.
They draw 5 per cent. interest, and
were sold to the highest bidders, and
realized all round 83 per cent.-be-
ginning at 80, and advancing to 80 be-
fore the loans were closed.
F0s.rth-The whole subscription was
taken by the
FARMERS, sHOPKEEPERs AND BANKERS,
the latter purchasing on speculation
for a rise, and then re-selling to the
farmers. The great bulk of these
Rentes have found their way into the
pockets of the French farmers. It was
found when the temptation was placed
before them, that nearly every farmer
in France had a secret hoard of gold
"Napoleons and 5franc silver coins,
of the existence of which there was a
suspicion, but of the fact or amount
little was known. The common people
of France rarely deposit their money in
the savings banks or anywhere else ex-
cept in an earthen crock in the ground.
But every Frenchman, no matter what
his politics or religion, whether he
be a Royalist. a Republican, or a
Communist; Catholic, Protestant,
or Skeptic, has absolute confidence
in the solvency of his Government, and
is willing to loan his last franc, shirt,
or pair of sabots. The subscriptions
for the national loan to liberate
France from the occupation of
the hated and abhorrea L'Alle.
mango (German) amounted to
FOUR OR FIVE TINES
the sum required: and, at all places
where the books were opened to receive
proposals for Rentes, there were great
crowds, much excitement and conten-
tion, and q scrambling rush first to
reach the books. For twenty-four
hours in advance of the time for open
ing them, long lines of women held
their places, regardless of rain or heat,
wind Or weather, and impatiently wait
ed for the signal for the procession to
move upon the books and make their
offerings of so many hundred or thou
sand francs each for, in making these
subscriptions, the women managed the
business, as they do pretty much every
! other business in France, e,-the men
standing helplessly idle. and watching
their spouses with that feeling which
the
IEFERIoR HAS FOR THE SUPERIOR.
! FStth.-It was demonstrated by the
result of the offerings, and the facts
that came to light, that the French
farmers alone had more gold and silver
boarded away and secreted in unknown
spots than would suffice to discharge
the whole German fine and the cost o1
the war besides. It had long been a
mystery what had become Of The steady
stream of the precious metals which,
for the last fifty or sixty years, had
poured into France. Some said they
had been re-exported in the shape Of
jewelry, gliding, ard ornament and
others had magnified the amount ot
coin in circulation and in the banks
But the truth is, the French peasantry,
and shop-keepers, and mechanics had
boarded it by the hundreds, and per
haps thousands of millions. The wo
men OF France hold the purse.strings
They are sharp and economical beyond
American conception, industrious to 6
degree of which American women have
no idea, close, saving, stingy, and &C
quisitive. Slowly, day by day, month
by month, and year by year, the little
surplus savings and self-denials of eacf
good dame and her family go on accu
mulating and increasing, and are care
fully converted into the indestructibl,
precious metal, and
BURIED In THE GROUND,
or hid in the wall of the cottage, ant
kept it there with all the secretivenes'
of Free.masonry. Only on occasionl
of marriages or purchase of land is an.
part of these boards ever touched. Fo
the former, a certain amount Gomez
forth from its hidlng-p place to pay tn
stipulated marriage-dowry of tn
daughter or fortune given the son
and then the meney only sees the day
light for day, for the new owners in
stant]y lay it away, and begin the labo
of married life to earn money, save it
and add it to the patrimonial boards
SSxth-France is the
MOST sELF-sUPPORTING NATION
, in Europe or the world. Her export
} always exceed her imports largely, ant
this balance is exacted IN the preciou
, metals, and not in raw materials, as i,
! Great Britain. Paris is the fashionabl,
capital of the world, the Empress O
femaledom: and to her shrine the,
come or send their offerings from al
the nations of the earth. Paris set
the fashions and changes them at pleas
ure, and as often as the changes of tn
= moon or the direction of the winds
All that is costly, useless, himsy, an,
D flaming in the female toilet and ward
robe, is manufactured in France, in,
J sold in Paris to the worlds butter il,es
. while the fop element of the masculin
, persuasion are also provided with thei
: stunning styles of dress by the French
=. and the whole chamD1pne.drinki