Note 6 — Chapter II

For example, in November 1912, “no gold was handed across the counter at the Bank of France except on the most urgent demand, and then the highest sum paid in gold was 300 francs per head. The other banks followed this example, and the most generous released 200 francs in gold. All special wishes for payment in money were charged 1 per cent premium. At the same time, deposits in gold were credited with 1 per cent premium” (see Bankers’ Magazine, December 1912, p. 794). At the beginning of the month cashiers were charging a premium or commission of 6 f. per 1000 f. for payments in gold instead of silver (see Economist, November 9, 1912, p. 961).