THE PROPER RULE IN FLUCTUATING EXCHANGES

The citation in the footnote is the last word in a discussion which has occupied the attention of our courts for more than a hundred years. It arises on a state of facts which may be stated as follows: Mrs. G, an American citizen, bought a bill of goods in France from Madame S, a Paris modiste, in the year 1914. The bill amounted to ro,450 French francs, which was to be paid on delivery of the goods. Because of the outbreak of the War, Mrs. G left Paris without paying the bill.

In 1921 Madame S brought suit in New York. In 1914 the franc was worth about twenty cents, in 1921 the franc was worth about five cents. The American Court can give a verdict only in dollars. The New York Court gave the plaintiff approximately $500.

In the year 1924 the Court of the King's Bench in England allowed the plaintiff approximately $2,000 on the same state of facts.