Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1904-04-28

later must ask you to explain. z
You admit that no more money can
be forced from the people of France. :
Ask the farmers of the taxes. Ask
Chamillard of the treasury. My faith,
look out of the window! Listen Do
/ not tell you that France is laughing
Very we'll. Let us also laugh. Let
us all laugh together. There is money
in France. more money in Europe.
assure you these people can be brought
to give cheerfully all they have"
1T sounds we'll, Monsieur Las, but
let me ask you how"
France is bankrupt--this is brutal,
but none the less true. France must
repudiate her obligations unless some
thing be swiftly done. 1t is not noble
to repudiate, your grace. Yet, if we
cancel and not repudiate, if we can
obtain the gold of France, of Europe 2
Body of God! but you speak large,
my friend.
Not so large All subjects shrink
as we come close to them by study.
'Tis easy to see that France has not
money enough for her own business.
II we had more money in France, we
should have more production. and If
we had more production. we might
i have taxes. Thereby we might have
somewhat in our treasury wherewith
to keep the king in the saddle, and not
under foot
Then, il follow you, said Philippe,
leaning slightly forward and again
placing his finger tips judicially to-
gether, you would coin greater
amounts of money Then, would ask
you, where would you get your gold
for the coinage?'
1T is not gold l would coin" said
Law, but credit"
THE kingdom hath been run on
credit for these many years.
mo, It's not that kind of credit that
/ mean. mean the credit which comes
of confidence, 1t is fate, necessity,
which demands new system The
world has grown too much for every
man to put his sjxpence into the other
mans hand and carry away in
basket what he buys. We are no
longer savages, to barter beads for
hides Yet we were as savages, did
we not come to realize that this insus-
fcient coin must be replaced, in the
evolution of affairs, just as barter has
long ago been replaced"
"And by what?"
AS | said, by credit
DO not annoy me by things too
deep. but rather suggest some definite
plan, if that may be.
First of all, then, as said to you
years ago, we need bank, bank in
which all the people of France shall
have absolute confidence"
You would, then, wish a charter of
some sort?D
only provided your grace shall
please. / have of my own funds a
half million livres or more. This I
would put into bank of general ma
ture, If your grace shall please. That
should be some small guarantee of my
good faith in these plans"
Monsieur Las would seem to have
followed play to his good fortune
Never to SO good fortune as when
first | met your grace" replied Law.
II have given to games of chance the
severest thought and study. Just as
much more have | given thought and
study to this enterprise which | pro-
pose now to lay before you
And you ask the patent of the
crown for your bank?"
1t were better if the institution re-
ceived that open Endorsement"
A slow frown settled upon the face
Of the other THAT is, at the begin
ming, impossible, Monsieur Las said
the regent. 1T is you who must prove
these things which you propose.
LET it be so, then,' said Law. with
conviction. 7 make no doubt | shall
obtain subscriptions for the shares.
Remember my words. Within a few
months you shall see trebled the ener-
gies of France. Money is the only
thing which we have not in France
Why, your grace, suppose the collect
ors Of taxes in the south of France
succeed in raising the, kings levies.
That specie must come by wheeled We
hicle all the way to Paris. Consider
what loss of time is there, and con-
slider what hindrance to the trade OF
the provinces from which so much
specie is taken bodily, and to which it
can return later only little at a
time Is it any wonder that usury is
eating up France? There is not money
enough-it is the one priceless thing;
by which mean only that there is not
belief, not confidence, not credit
enough in France. Now, given bank
which holds the confidence of the peo-
pie, and promise the king his taxes,
even as / promise to abolish usury.
You shall see money at work, money
begetting money, and that begetting
trade. and that producing comfort, and
comfort making easier the collection
of the kings taxes.
by heavenl you begin to make it
somewhat more plain to me.
Continued Next Week.