The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1912-12-14
FRANCE FINDS It
IS REAL WEALTHY
Has Vast Sums Tied up in
Palaces, Etc, According to
Inventory Just Ended.

Paris, Dec. 14.-Prof1tinE by the
lesson taught in tho mysterious theft
Of the famous painting, LA Joconde."
from the Louvre art museum, the fine
arts officials have determined to take
no chances with the great historic
French monuments. They do not ex-
actly ear that n n will carry off
the monuments. but 1t has been
thought advisable to take an invent
Ory Of them along with other French
treasures. and to list all with tho app
proxtmate values in Il permanent cata-
log.
1t has been found difficult to make
a financial estimate of buildings like
the great Chateau at Versailles, but
at $144, 100000. This includes the Tri-
anon palace nearby.
The famous column in the Place
Vendome. which has been admired by
so many Americans. Is appraised at
$50 1900. The Arch of Triumph in
the Place de rEtolle is held to be
worth ~$4.O0O.000. The Egyptian obe-
lisk in the Place de la Concorde is
estimated at $4,000 and the Louvre
itself at $56,2 1000.
70 the regret of many who enjoyed
the spectacular sight. M. Delcasse,
minister of marine, has decreed that
in the future French warships shall
not be launched 1 n the o~ld-fashioned
way with a plunge into the waters.
They will be built in dry docks and
there await the waters that will float
them out.
This decision is due to the mishap
which attended the launching Of the
fused to move down the ways though
the most powerful screw-jacks were
used. 1t was necessary to delay the
ceremony for wv months. when the
spring tide came to the help of the
builders.
M. Delcasse has ordered the con-
struction Of two huge dry-docks. one
at Brest and the other at rOrient,
capable Of accommodating vessels Of
the dreadnaught type. The idea is
not altogether new. as the Japanese
have constructed ships in dry-dock.
X
Speculation in Belgian five franc
pieces. which are current in France,
has become SO lively that the Bank Of
Belgium has mentioned the matter in
Its official reports. and French finan-
cial newspapers have offered sugges-
tons for resisting the practice.
Because of Belgium's unfavorakle
trade balance. that is because she i'm
JULIE Aloic Sldi SHc EXPORTS, rates OF
exchange are against her in the mon
ey market. The long continuation of
a discrimination has led profess
sional money changers to buy checks
on Belgian banks OF Belgian bank
notes in Paris and to collect or change
them. through agents in Belgium, into
Belgian coins as are current in
France. particularly five franc pieces,
which are shipped back to Paris.
The rate of profit is never high, but
capital employed in such an UNDER
taking can be turned so quickly be-
cause of the shortness of the distance
between the two capitals that within
a year an exceedingly large income
may be had on funds thus employed.
n result is that the Belgium gov.
eminent simply coins five franc pieces
for the profit of French money chang
ers and for the uses Of French circu.
lation. The advantages of having it's
coins current in France are SO great
That Belgian cannot afford to sacrifice
that convenience in order to DESTROY
the money changers,
In 1911 the Bank Of Belgium was
obliged to obtain and bring back into
the country 129. 600, 900 francs from
in order to restore her circu-
latton. a process which cost the bank
about 100000 francs. French bank
ers resent the necessity for such a
drain as much as do the Belgians since
much of 1t comes out Of the Bank Of
France.