Foreign News: Paper for Gold

A peasant trundled his cart in from the suburbs of Lyons last week. The cart was heavy. Beneath a load of warm manure nestled 110 pounds of golden 20-franc pieces done up in sacks. Arrived at the Bank of France the peasant, Jacques Brosson, winnowed out his sacks of gold, exchanged them for 730,000 paper francs, hired a taxi, returned home to hoard paper which he believed would soon appreciate.

All over France similar scenes. . .

The cause?

The Bank of France and its subsidiaries have recently begun to purchase gold with paper francs...

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