The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1877-07-05
French HOardings, and French Pro-
dUctiOnS.

We hear recently a great deal of the
example of France, and Prof. Price Is
among those who point admiringly to her
in this crisis. Now, as every one knows,
the savings of people in England, Ger
many and America, are deposited in
banks, whence they are loaned and be
come utilized as capital IN France the
peasants heard their savings in cid
stockings and secret corners. To with
draw from either of the countries so large
an amount as that of the indemnity paid
Germany would greatly disturb trade ;
but the peasants, PatTiOtiCally unearth-
ing their hOardings of secret gold in ex-
change for government bonds, enabled
the state, to the surprise of all, to pay
her heavy penalty without distress OF
financial disturbance. But this was an
exceptional position. We are scarcely to
argue therefrom that boarding is the
true principle: that a nation Is better
off because its wOrk-peOple hide their
savings, Withdrawing them from public
use rather than placing them in banks
where they may become active capital.
Prof Price attributes the successful pay
meDt by France of the German indem-
nity TO 1.-The practice of one Cf the very
greatest of economical Virtues-she bad
saved" Now, it was solely due to the
manner in which her savings had been
held. The fact seemed TO
have dazzIed every body. The
example of the French peasant IS now
held up on all sidcs-that he lives the
narrowed and most restricted Of lives;
that his excessive economical spirit not
only limits his comforts, but keeps him
ignorant, superstitiOus, dull, spiritless,
hopeless, (the tragedy Of the French
peasant-life IS only too well told il the
pictures of Millet;) that he has neither
intellectual life nor any grace OF art OF
refined civilizatiOn-thesef facts are moth
ing to the economist; the peasant haa
drudged and boarded he has refused
himself and his family ease and comfort
and boarded; ne knows neither art, nor
literature nor science, but h. he-
boarded; he lives a lie scarcely better
than that Of the beast. of the field, but
be has boarded; his savings have noUT-
ished no industries nor rewarded any
art. nor promoted any intellectual end,
aud he himself has done his best by mere
restriction 10 limit the productive re-
sources of his land but having -aved
and boarded with the instinct with which
a dog hides a bone. he Is held Up for All
miratiom, This rort Of thing fully eN
plains the shudder with which people
/ generally hear the name Of political
economy. It IS tue, there must be
. economy; there must be saving, but
+ there Is economy and economy. The rea
cause of the more prosperous condition
of France Is not starved existence, bu'
sustained and uHspeCulatIye production
. There Is Jess concentration there, les
wild owe rtrading; there are more diau
sion and old-fashionei relation Of pro
duction to consumption This equabi'
and uniform production Is like q stream
that is fed by ten thousand springs aut
MANY afiuents; it flows steadily on
calm. perennial, benehcenJ, but our spec
ulatiye and spa-modIc production i TO-
much ike mountain river, that IT, on
season comes down in A flood and deluge
the land. at another subsidies into
, rivulet, and all the land is parched ,-
PoUilLqr Science Monthly.