Paris has long "been suffering from the progressive disappearance of silver money from cireulation. This shortage was originally caused by the increase of the value of silver as metal or the depreciation of paper money, whichever one prefers to call it, aggravated by the natural tendency of the French people, especially in the peasant and working class, to hoard money.
Postace Stamp Era-
The obvious disadvantage to the. general public of never being able to settle a bill for a less sum than the lowest banknote, that for five francs, produces very serious incon venience. The position of the small shopkeeper is even worse, for he is often in the position of not being able to sell at all. This latter class have made various attempts to ease the position, principally by attempting to popularize. the use of postage stamps done up in neat little paper envelopes, as is now generally the custom,' as. small change.
Up to now the Government have not been very helpful. One of the ultimate conditions of the success. of the postage stamp scheme was that the post offices should be authorized to accept stamps and change them back into paper money. This the P.T.T., the French equivalent of the G.P.0., refused to do. Even the actual giving of stamps for change, an operation so profitable for the P.T.T., has never been regarded by the Bureau with any favour, on account of the infringement' of" monopoly it involves.
The French Mint has continued (at a great loss) to try to cope. with the situation by coining more and more silver. But this, it is. now realized, is only playing into the hands of the hoarders and the melters, and it is to be feared, in spite of the strict watch kept at the frontiers and ports on persons going out of the country to prevent. exportation of the costly coin, that smuggling in this is as widespread as it is profitable.
It is now proposed that Paris. should. take the fatal step and issue through her Chamber of Commerce notes for small amounts, ranging from ten sous to two francs, to supply the need. It is not a pleasant prospect.
Text read from the printed page and cleaned; old type leaves the occasional error.