During one of our round table discussions, wow, some one found a 2" piece of pipe in their french fork. I have one in all 5 of my Motobecanes. Some years ago I was gonna pop it out the bottom, but, nope it was brazed in place. It is a re-enforcement piece for the crown and brake hole. Helps out~yes, hurts~ nope, not unless you have a 20-21" frame, and want to shove the stem way down deep. And the steel pipe doesn't hold moisture like the solid peg would. Why not take a 1/16" drill bit and put a hole thru the peg if you ride in rain?
Dickey Greer
West Monroe,La USA