The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-09-27
FRENCH FINANCES.

Constant alllSlOil ID pelllS iHtuc W
the policy Of France in regard to re-
sumption as being different from that
adopted here, when the truth is that
country has been acting upon the
very policy that the United States is
pursuing. but France is reducing it's
circulation much more rapidly than
the United States. The bank of
France has withdrawn it's circulation
during the last nine months to the
amount of at least sixty millions of
dollars, and has accumulated coin in
about the same ratio, and is now prac-
tically at specie payments, and would,
nodoubt, formally resume but for the
unsettled condition Of the silver ques-
ton. far more disturbed there than
here.-New York Bulletin.
The monopoly sheets delight in mis-
representing facts. The truth is SO
much in the way Of the schemes OF
these contractionists and gold resump-
ton pirates that they refuse at all
times to tell any Of it. The amount Of
money in circulation among the peo-
Die in France, counting all the metallic
and all the paper money, has not been
contracted a single franc. She made
her paper a legal-tender, and as a con-
sequence it and gold and silver have
all the while circulated together
among the people. BY virtue Of an
abundant currency her industries have
been kept active, her production has
been profuse, and she has shipped her
manufactured articles to other coun-
tries bv the millions of dollars worth,
and taken gold and silver IN payment;
and in this mode has accumulated
large amounts Of gold and silver; not
only in the bank Of France; but III the
hands Of the people outside the bank.
The bank has withdrawn III part her
outstanding paper, but not until other
currency had taken its place. Conse-
quently no contraction OF the curren-
cy in the hands of the people has oc-
Cured France has not funded her
non-interest paper into interest-bear-
inc bonds either, as our WOuld-De
statesmen are seeking to do. Neither
is France troubled with the silver
question. What corruptionIst may
finally do in having her demonetlZe
silver, we don't pretend guess; but II
the people of France at large have a
say, we are Of the opinion, silver will
remain as now, Il full legal tender.
The boastful American seems to be
the only one who is completely under
the thumb of the money lords of Eng
land.
France is prosperous and IS so be-
cause she has an abundant currency
in circulation. This fact the hired
sheets of the country seek to conceal
and try to show that contraction does
not interfere with business. They
mention the fact that the paper money
volume has been decreased without,
at the same time telling the whole
truth by showing that the volume of
metallic money has correspondence
increased.
The bank of France, according to Il
late report. had demand liabilities and
cash assets as follows:
Notes S495, 500, 600
Government deposits 50 ,455, 900
Individual deposits "a ,32O ,0O0
Total $685., 765, 900
Cash ABS. 535, 900
Excess of liabilities $lS7, o4O, 900
In addition to its cash, the bank
held $l67. 40, 900 of treasury bonds
and private securities, BY converting
the latter into money, it would have
1905, 30l 900 to pay 1925, 900 of
notes and deposits, and yet it does
not deem it prudent to resume specie
payments.
In the United States, on the other
hand the national banks have demand
! liabilities as follows:
Circulation S3l5,0OO, 600
individual deposits Gal, ITO 900
United States deposits 1861, l44
Total $685., ASS, las
The resumption of specie payments
by the government would convert the
above INTO a coin liability, and where
is he coin to meet it!
The people of France hold outside
of the bank more than one thousand
millions of dollars in coin.
The specie resumptionist of this
country are lacking in honor and COM
mon honesty, and also are void of
even Il small amount of senSe.-la-
dianapois Sun.