1234567891011121314151617181920212223242526272829303132333435363738

on the Banque de France to hand out gold currency

for notes whenever asked, but bar gold must be available on demand: for minimum amounts on a basis of 65.5 milligrammes to the franc.. This weight represents the nearest half milligramme that would keep the franc as close as possible to its present exchange value. The actual par of exchange will now be 124'21 to the pound and 25'52 to the dollar. The regret that we feel in thinking of the franc as finally worth 2d., after the decades when it was worth 10d., is only mitigated when we remember that two years ago it was-worth only id., and might then have fallen until -its value was utterly extinguished like the value of the old mark and the rouble.

* *

Next page