 The Commune appointed Charles Beslay as the Commissaire of the Bank of France, and he arranged for the Bank to loan the Commune 400,000 francs a day.This was approved by Thiers, who felt that to negotiate a future peace treaty the Germans were demanding war reparations of five billion francs; the gold reserves would be needed to keep the franc stable and pay the indemnity.Jourde's prudence was later condemned by Karl Marx and other Marxists, who felt the Commune should have confiscated the bank's reserves and spent all the money immediately.