[London,] 4 August [1870] 

Dear Frep, 

Tuanxs ror the £40. Ditto the £5 received from Kinc Coat for the 
INTERNATIONAL. 

As to the sale of shares, my view is as follows: They will go up 
again, but will then fall in the very near future, because the London 
Srocx Excuance, inert for so long, is taking the opportunity for 
bankruptcies and this will have the same effect on the continental 
EXCHANGES SO that a mass of papers will have to be thrown on to the 
market. 

a See this volume, pp. 31-32. - > K. Marx, ‘First Address of the General Council of 
the International Working Men’s Association on the Franco-Prussian War’. - © In the 
original Marx adds the German translation of this phrase: ‘Ich stimme obiger Adresse 
bei, soweit ihre Tendenz im allgemeinen dem Manifest des Generalrats der 
“Internationalen Arbeiterassoziation” entspricht.’ - 4 Samuel Moore 

As to Oswald’s ‘étres’,* I shall examine him on the subject today. 
Salut. 
Your 
K. M. 

P.S. Among the first victims of the war are the Lafargues and 
Schnappy.” Their cottage, in the [fortification] rayon,” will be torn 
down at the first unfavourable turn of events.