Indianapolis Times, Volume 38, Number 104, Indianapolis, Marion County, 6 August 1926 — Page 9

AUG. 6, 1926

PRINTING PRESS FINANCE BACK OF FRENCHTROUBLES Nation Like Man Trying to Cash Checks With No Funds in Bank. By Milton Bronner, XEA Service Writer LONDON, Aug. 6.—Against the man living by getting friends to cash Jiis checks, although he has no balance in the bank. The checks are returned, marked “No funds,” but friends continue to put up money, hoping for the best. Now, however, the next time a check comes back with the familiar stamp on it, there may be nothing left for Frenchmen* 1 to do but t go down into the old stocking and bring out a handful of their own coins. Hence the anti-American outbreaks in Paris. These displays of boulevard temper do not mean France is angered because Americans insist on being paid the loins due them. No money has been passed across to Uncle Sam and France Is far from being persuaded that any will be necessary. France is insulted and defiant toward the United States because further American credits have been refused her. ■Yenchmen blame the fall of the Hfranc on those “pigs of Americans" because Uncle Sam is inviting France to save herself instead of opening his pockets to further socalled “loans.” Franc Must Be Stabilized The franc at par Is worth 19.3 cents. It is now worth a little more than 2 cents, fluctuating from hour to hour. Eventually it will have to. be stabilized, as the German paper mark was stabilized, but at what figure nobody can tell. So, all calculations must be stated in francs, though dividing by 40 will give an approximation of dollar values at this writing. The reason francs are so low is because the French people are not balancing their budget. They have '•had to borrow every year since the outbreak of the war to meet govern-

COULDN’T RAISE LEFT ARM ABOVE ' HER SHOULDER Local Lady Suffered Misery From Neuritis, but She Says the New Konjola Relieved Her. In the more severe cases of neuritis the pains are piercing—Just like i hot daggers cutting into the nerves. Many authorities have stated that the agony of neunitis is likened unto an electrical sho<|k; the shooting pains may grab the sufferer at fre-

Ijgy!

MRS. W. H. BUTTS

quent intervals. Some call this affliction neuralgia, others say it isj like rheumatism, but, in either event, I it is a terrible affliction and one of' the most agonizing diseases that mankind Is heir to. It Is surprising what this new medical preparation, Konjola, will accomplish in so many instances of neuritis suffering. By invigorating the inner-organs to healthy action, and stimulating the liver and kidneys, the poisons throughout the system are eliminated; the nerves become stronger, and within a brief space of time this Konjola brings amazing relief to the neuritis sufferer. Where drugs and heart'weakening chemicals only produce temporary relief, this Konjola seems j to go to the very seat of the trou- [ ble, and restores a healthy, normal condition in a natural way, so that the pains do not return. Many Indianapolis people, have taken Konjola for the suffering pains of neuritis, and instances of complete recovery are reported day after day. Just recently, Mrs. W. H. Butts, well known Indianapolis lady, living at 1401 Naomi Street, this city, made the following remarkable statement: ‘‘l had neuritis over a year,” said Mrs. Butts. "It centered in my shoulders and arms, and my left arm was so badly affected that I couldn't raise it above my shoulders. My arms became numb and feeble, and my hands would swell up so I couldn’t close my fist. Pains would start in the fleshy part of.my arm, then go to my shoulder and shoulder blade, and then into the muscles of my breast. Both night and day I was almost a constant sufferer; and, worst of all, I kept trying everything to get relief. But, I tell you, I never knew what relief was until I got Konjola. This medicine seemed to relieve me like magic, and the most wonderful thing about your remedy Is that the relief It gives is lasting. All the soreness, swelling and awful pains are conquered now, and my shoulders feel free 9nce more. I give Konjola credit for the great relief I have enjoyed and gladly pay my highest praise £o this medicine. • The Konjola Man is at Hook’s drug store,-Pennsylvania and Market Streets, Indianapolis, where he is daily meeting the public and In- 1 troducing and explaining the merits of this remedy. Konjola is also for sale by every Hook drug store in this city, and, by all druggists in outside towns.— Advertisement.

ment expenses. Their borrowing ts partly from investors who buy French bonds and partly from the Bank of France. The latter transaction is the basic element of viciousness in French financial jugglery. The Bank of France is a private institution, partly under government control because it is the depository for government funds (when there are any) and partly because it issues the French paper currency. Printing Press Finance Normally, the right to print paper money is safeguarded by a high gold reserve in the bank's vaults. Now, however, the French government has disregarded all questions of an adequate gold reserve. Paper is not redeemable in gold, as it was before the war. The government borrows from the Bank of France by the simple expedient of passing a law through Parliament authorizing the bank to increase its advances to the government’s account. These advances are really made by the printing press. The bank prints billions of new paper francs and turns them over to the government without increasing its gold reserve in any adequte way. People in France possessing paper money, as everybody does, since the circulation of gold is illegal, have become frightened leait the francs they hold will never be redeemed by the bank in terms of real money. So francs constantly are falling, as if a huge national gambling game were in progress. Huge Advances Advances to the government by the Bank of France up to two years ago amounted to 22,700,000.000 francs. Last year they had reached 27,400,000,000 francs arid this year they have grown to 38,350,000,000 francs. Simultaneously, the legal limit for note circulation to be issued by the Bank of France, which was fixed at 45,000,000,000 francs early in 1925, was raised to 51,000,000,000, in June, 1925, and again increased to 58,500.000,000 this year. Behind these huge piles of printing press money, the Bank of France has a gold reserve of $1,108,681,000, by normal reckoning. This is not paper, but the actual yellow metal Itself. It is interesting to note the ratio between the number of francs in circulation. Divide the number of francs by the gold reserve in dollars and the result is approximately forty —the present number of francs that can be obtai.*i for a dollar. As the number of fiMics goes'up, while the gold reserve remains stationary the value of the franc tends to decline. I Living on Loan The French government has been living on what remains of the SIOO,I 900,000 loan made two years ago by ! J. P. Morgan & Cos. to bolster up the franc. France has fallen to mis plight primarily because the French people refused to bear their financial burden of the World War. They expected to make Germany pay all the war expenses and present them with a handsome bonus of several billions as well. Therefore, they did not tax themselves adequately during the conflict, as Great Britain did. From Aug., 1914. to June 30, 1919, France spent on the war and its immediate aftermath, 280,658,000,000 francs. During the same period, the govern, ment raised by taxation little more than 60.000.000,000 francs, the balance, about 220.000,000,000 francs, being raised by various kinds of loans. At the outbreak of the World War, France’s national debt was 1,367,000,000 francs. To this comparatively modest sum, France has had to add not only the war borrowings of 220,000,000.000 francs, but also constant loans negotiated since then, due to inability of government after government to balance the budget. The debt now stands at about 300,000,000,000 francs, not including the foreign loans which the French people do not count on paying in full. The French government is paying paper for gold, using paper that has less and less value and threatens eventually to be worth no more than the cost of printing. When that happens France will have to accept the same treatment as Germany and oermit her finances to be administered for the benefit of her creditors by a modified Dawes plan. But, there is still time for France to save herself from this national

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humiliation and dishonor by meeting adequately her financial difficulties. The national wealth of France has been estimated to approximate SIOO,000,01)0,000. The French people have the money in actual fact to pay what, they owe. But, they do not want to make a hole that big in their savings. They got help to win the war, and they still think they

\ ..-tv* 5 \ \ T* toS •*;£ \ % Ml* '* rs "V 8 , \ 1 -■**'*. f’V •"'**. M*. °**?V \ IW* J*'" “ CM*'" o'* 0 '* \ 1 P' e t pr\<** < r ' enCi /' rea'ty \ 1 oe a\-* nd .. fC O \ \ *- s<° te

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THE INDIANAPOLIS TIMES

will get help to win the peace. They believe the world cannot afford to see France fall and they are gambling on that assumption. A machine gun, said to be able to fire 1,200 shots a minute, was tested recently by the New Tork National 'Guard. It throws ball shots and kills at 2,000 yards.

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FIND GOLD IN CALIFORNIA Deadman’s Creek Is Scene of Yellow Bonanza’s Lure. Bv United Press SONORA, Cal., Aug. 6.—California’s latest gold rush in the Sonora country has proved that the ancient lure of the yellow Bonanza still tempts. Virtually all the district around

Tomorrow, Saturday, August 7 —The Furniture Store for Everybody!—The Store That Is Entirely Different!—The Store That Will Sell for Much Less! —Because We Have Eliminated All Useless Expenses——No Fancy Embellishments—No Costly Displays—No High-Powered Salesmen—No High Rent The “State" is ready to serve yon with the very finest NEW, USED AND SAMPLE FURNITURE AT NEW LOW PRICES THAT ARE POSITIVELY UNMATCHABLE! Choose from our large and complete line of high-quality, substantially-made furniture at our low prices and know that your dollar has purchased an overflowing measure of furniture value. JOIN THE ‘“OPENING” CROWDS TOMORROW! Come, Bring Your Friends—and Remember YOUR CREDIT IS GOOD AT THE “STATE” Easy Terms Arranged to Suit Your Income

OPENING DAY SPECIALS! $3.00 to $6.00 Golden Oak a jfl , a DINING CHAIRS s !^ (New and slightly used). All in perfect condition. While they last $17.50 to $19.50 Fine Golden OAK DRESSERS'll—(Slightly used). Can't be told. from, new; easy terms. While they last One Large Lot Oak £ ~ DRESSING TABLES (Slightly used). Easily worth $17.50 to $20.00. Easy terms. While they last One Lot Link Fabric “SIMMONS” SPRINGS * J (New). Come in wanted slaes. A real bargain. While they last Large $6.00 to SB.OO <* JS “SIMMONS” BEDS^/Lli (Slightly used). Come in various finishes. While they last * Oak and Mahogany a q h LIBRARY TABLES^iktE (Floor samples and slightly used). Take your choice while they last FEATHER PILLOWS Qfln —Fine art covering: stuffed with select chicken Wkm feathers. While they last PAIR Beautiful Walnut Finish J| nr $29.50 DRESSERS * | £ldz (Samples). Exceptionally well constructed. | Easy Our opening day price only ™ Terms

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RELIEF FROM MR NEWTON, Conn. —Relatives of Edward Comstock flew fifty miles from Pleasantville, N. Y., in less than an hour to keep the youth from going to jail. They carried with them $lB, representing Comstock's fine and costs, which had been imposed because he defied three policemen who told him to repair a tail light on his automobile.

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