Evening Republican, Volume 19, Number 180, Rensselaer, Jasper County, 31 July 1915 — GIVE ALL TO FRANCE [ARTICLE]

GIVE ALL TO FRANCE

Rich and Poor Turn Over Hoarded Treasure. Peddler and Seamstress Lead Great Line of Patriots Bringing Gold to Maintain Nation’s Credit and Defense. r Paris.—Since the Bank of France opened special counters in Paris to receive the people’s hoarded gold a few days ago the yellow coins have continued to flow in an uninterrupted stream. Depositors exchanged gold \for bank notes In the first four days in Paris to the extent of $3,000,000. No reports from the provinces have been made out. Capitalists went to the bank in automobiles, taking little bags of gold to strengthen the credit of France and help In the national defense. In the early morning hours working men and small employers hurried in on the way to their labor to hand in their jealously preserved savings. First to respond to the call for more gold were a street lemonade seller who brought two napoleons wrapped in a big rag, and a little seamstress, who proudly gave her solitary coin. All who take gold to the bank get in return a receipt slip as a souvenir,

Baying for their country’s sake they have parted with their treasure; ~ In addition to equivalent value in paper money the Bank of France can issue legally three bank bills of $26 for every S2O In gold. .When Finance Minister Rlbot asked the governor of the Bank' of France to open special gold-receiving offices in Paris and its provincial branches M. Pallain already had taken steps to this end. Inquiries in many competent quarters have led to the estimate that gold money held privately in France amounts to $700,000,000, or nearly $80,000,000 less than the total gold reserve now at the Bank of France. Few of the depositors say: “I wish to exchange gold,” or, “I wish to pay in gold.” All make the simple, remark: ”1 bring gold.” Rich and poor alike are conscious they are taking gold, not, to the bank, but for France. It would be a mistake for the public to Imagine that it is making a sacrifice in exchanging gold for notes, since the gold is unemployed and therefore unprofitable. The bank is naturally anxious to keep as large a reserve as possible so as to maintain fully the credit of its paper issues and at the same time enable the government to pay for supplies from abroad in gold. Another reason why the government wishes the nation’s gold to be held in the strong hands of the bank is to prevent it from being withdrawn privately under false pretenses to find its way to the enemy by trickery. Germany and Austria are in desperate straits financially, and are ready to adopt the most deceitful practices to get gold.