Saturday, February 2, 2013

All France Is Hoarding Gold.

New York Times 100 years ago today, February 2, 1913:
Scarcely a Coin Seen and Banks Refuse to Give Any Out.
    PARIS, Feb. 1.— Gold which is now at 20 cents premium on $100 has almost entirely disappeared from circulation in France. The only places in Paris where gold coin can now be obtained are the Paris branches of American banks. The French banks refuse to give even one 20-franc ($4) piece to a customer.
    The hoarding of gold has been in progress for three months, owing to apprehensions of a possible war. For two or three days recently, however, when peace in the Balkans seemed likely, a few gold pieces began to reappear in circulation, but these have once more vanished.

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