Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1904-02-26

under foot"
Then. If follow you," said Philippe,
leaning slightly forward and again
placing hts. finger tips judicially to-
gether, you would coin greater
amounts Of money. Then, would ask
you, where would you get your gold
for the coinage2"
st is not gold would CON-" said
Law, "but credit"
The kingdom hath been run on
credit for these many years."
No, It's not that kind of credit that
I 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 sixpence into the other
mans hand, and carry away in a
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 insult
dcient 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. II that may be-"
First Of ell, then, as 1 said to you
years ago. we need bank, a bank In
which all the people of France shall
have absolute confidence"
"You would. then, wish a charter Of
some sort?"
Only provided your grace shall
please. have Of my own funds
half million livres or more. This
would put into a bank of general ma
ture, II 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
hrst ! met your grace" replied Law.
have given to games of chance the
seyerest thought and study. Just as
much moro 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?"
It were better II 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. ut is you who must prove
these things which you propose"
Let It be so, then" said Law, with
conviction. Il make no doubt shall
obtain subscriptions for the shares.
Remember my words. Within 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 q little at a
time. 10 1t any wonder that usury is
eating up France? There is not money
snough-it is the one priceless thing:
by which I 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 a. I 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 heaven! you begin to make 1t
somewhat more plain to me-"
gh"One thing ! beg you to observe most
carefully. your grace" said Law. nor
must 1t ever be forgotten in our under
standing. The shares Of this bank
must have fixed value in regard to
the coin Of the realm. There must be
NO altering Of the value Of our coin.
Grant that the coin does not fuctuate.
and promise you that my bank ac-
tons. notes OF the chief bank Of
Paris. shall soon be found better than
gold or silver in the eyes Of France.
Moreover, given greater safety to
foreign gold, and promise you that
too shall pour into Paris in such fash
Ion as .has never yet been seen. More
over. the people Will follow their coin.
Paris viii be the greatest capital In
EdTop THIS i promise You / can dog
I'm effect" said the regenta smiling,
you promise nae that eoW :San build a
new Paris, q new worldti Yet muc6 OF
this can In part believe and unders
stand. Let that be as it .may..,eThe
immediate truth is that something
must be done; and done at conces2Y.;...,
g obviously" =. "a.
Our public debt is twenty-six hum
dred millions Of livres. Its annual In
terest s;eighty millions of livres. We
cannot pay this interest alone. not to
speak Of the principal. Obviously. as
you say. the matter admits Of no de-.
lay. Your bank-why, by heaven, let
US have your bank! What can we do
without your bank?"