Ogden Standard-Examiner | 1923-08-01 | Page 4 | The France is Fiat Money

V TH THE E FRANC IS FIAT MONEY Explaining the drop In the franc from a normal value of at 23 cents to t 6 6 cents Mark Sullivan says The rhe present resent French coin whIch passes parses current as franc bears on Its face the evidence of Its pre pre- precariousness precariousness cariousness On one side it has ha merely the phrase Chamber of Commerce of France and on the theother theother other side the tho words Commerce and Industry It Is neither made of any precious metal nor does It bear the sort of assurance of oh- oh obligation ob obligation on the p part rt of the govern govern- government government government ment which in most countries is re- re relied re- re relied re relied lied upon to give real value to the currency It If there should be a heavy and Immediate fall in the French franc it will be interesting to watch the political conse conse- consequences conse- conse consequences consequences in France The French people have been buying eagerly the Internal French bonds bonde which are arc payable In francs It they should now see the vau value of ot these bonds decline for them they might be seriously disturbed and that die die- dis might reflect itself in French politics