The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1873-12-27 00:00:00

THE FRENCH "JOHN GILPIN "

Ile Parts Correspondent of TAe Timer wrtter

An examination of the tables annexed to M. Magne's
(the Ftuance Minister) Report show.; how greatly order
and peace have increased the revenue. The indirect
taxes, which, for the first nine months of 1872, yielded
900 millions, gave 963 millions for the same period of
1873. The combined exports and imperm, from
January 1 to October 31, 1873, amounted to five mil-
liards 528 millions, being an excess of 155 millions
over the same period of 1872, and more than • milliard
in excess of the same months of 1869. Toe rate of dis-
count at the Bank of France is five per cent., and that
establishment has lent the State 125 millions at one per
ceut, per annum. Silver coin is abundant; in
Paris five-franc notes have disappeared ; the premium
on gold is a mere trill.. Between the 3let of October,
1872, and the same date of 1873, the French funds,
3 per cent., 44 per cent., and in per cent, rose from
53, 75, and 84 respectively to 57, 82, and 92, and
the Morgan Six per Cent. Loan from 498 to 505.
Finally, the population of the Departments (France.
exclusive of Tarts), which, in the nine months of 1069
above referred to, had invested only 101 millions in the
public funds, invested 323 millions in 1872 and 436
millions in 1873. Such figurer as these, of the accuracy
of which there can acercely Le a question, give us a
very exalted idea of the restources and wealth of
France. Theee are best explained by the frugal cha-
racter of the nation, and the passion of the lower and
some of the middle clas-sit for hoarding. In con-
sidering these matters it is often useful to deta,th
Paris from France and view Weds separately. 'flits
is the city of pleasure and prodigality, of upward
eraining, of class rivalry, of reckless expenditure.
Here large clasees spend all the, get and more ; here
the mania of Bourse apsculatione demoralizes thou-
sands by the hope of easy gains. l'he ride and increase
of the Boursier class within the lad quarter of a
century has been enormous and most injurious. Still,
even in Paris there are a large number or pergons whose
habitd are saving, and whose most ardent desire is to
put by for a rainy day, or for old age, or to portion
their children. They are chiefly shopkeepers of the
more old-fashioned and respectable class—no those of
the fashionable quarters, with whom foreigners most
frequently came in contact, and who, by extorting
enormous and dishonest profits, endeavour both to
vie with their superiors in the social scale and to make
a speedy fortune. So great have the profits of the
retail trade in Paris become that it is now no
unusual thing to buy articles of French manufacture
in foreign capitals, before reaching which they have
paid heavy charges fomimport of duty, cost of carriage,
&c, as cheap as they can be bought in a Paris shop.
and even cheaper. Recent cases of this kind have
come under my own observation and positive know-
ledge. But, as before said, the less pretentious and
more reepectable class of Paris shopkeepers maintain
the economical traditions of their forefathers. In the
Provinces of the "frugal mind" for which John Gilpitee
wife was noted is almost universal, and the rural popu-
lation gladly invest their savings in the public funds,
which yield much more than land generally does in
France, even under the most favourable circumstances.
I think I shall be borne out in saying that those who
snake 3 per cent, by their land in France IVO chiefly
the larger proprietors, who have capital and can afford
to apply the modern improvements in machinery,
ruanuree, &c. The poor man with a small holding
rarely makes as much, unless in exceptionally
favourable years or circumstances, but he lives in great
measure on the produze of his ground, and barters the
overplus to supply his other wants. He gives corn to
the baker, who returns him loaves; and wine to the
butcher,-who repays him in meat. This plan is very
common in France, and the peasant had little need of
coined money, but as much of it as does pass into his
hands he is glad to keep. If the state of the country
be not to his mind, he puts it in an old glove or
stocking and hides it away for a time; he seldom
buys more land with it, but, when he thinks things
are looking safe in France, he readily invests it In
the funde, which pay him nearly double what he would
get if he sank it in land. He understands, too, that
the Bente cannot, like his vines and his crops, be
ruined by hail or blight He draws his dividends
wherever he likes at the offices of the tax collectors,
without having to go far fcr them, and they are paid
him quarterly, instead of half-yearly, as used to be the
case, and this is another inducement to him to invest,
for six months sometinim seemed a long while to wait.
During the war the unoccupied Departments were as
flourishing as those that were occupied weie depressed.
They ionld their produce at high prices and pot by
money, and thee, when the Government appealed to
their patriotism, and at the IMMO time offered them a
handsome interest ,we saw them flock to the subscrip-
tion offices, and the world wondered at the seemingly
boundless reeonrces of this favoured land, so ready
with its ransom on the very morrow of a diesstrous and
neatly war.