National Republican. (Washington City (D.C.)) 1872-1888, 1873-08-09
Prussia. Rsbber, aud Fresch Financier's.

Prus.Iau Robbery and frcach Financieriss.
The enormous sum which Prussia has ex-
acted from France by taking and holding her
BY tho throat Ia thus stated, rs Ia also the
wonderfully successfully nnanciering by
which, In q conquered state, the payment
was achieved:
The total Of the indemnity was i've mill
lIards leach milliard thousand L.illions) OF
francs. This total, however, by no means
constituted the whole Of the penalty In which
France was mulcted. without reference To
her own Internal losses, which form anotner
and separate item Of the frightful war nc.
count, we must make large addition OF
further actual payments In hard cash to the
five mllliards, before we can form correct
estimate of the full amount which has been
cxacted from her. From various statements
which have been made Of different times In
| the French National Assembly and the Ger
man Imperial Parliament during the discus.
cions OF the budgets Of the two countries and
| on other Occasions, We find that the Germans
/ have coptriyed by one means and another,
| to squeeze very nearly another miiliard and
a half out Of the French population. There
Is, for instance, the two hundred millions mons
military acquisitions made throughout the
occupied territory, and which together tho
| returns show to fall nothing short Of half a
milliard. Then there IL the constantly &c.
cruing interest upon the unpaid portion Of
the indemnity, for which FIRST payment OF
a hundred aud hfty millions was made al
the beginning Of tho present year. and to
cover which q second payment OF equal
amount will be required at the hual settle
ment this month. And then, besides this,
there IL the direct money loss OF the entire
revenue Of the coded provinces, and which,
amounting, as II !. SAID TO 40 10 sometnins
like twenty-five millions yearly, must repre-
sent at least another half milliard Of capital.
Thus the actual total In which France will
have been bled, and which Germany Insisted
upon receiving before looeing her hold, was
! probably not less than seven millards Of
! francs. All this has been paid within two
, years, and paid without subjeeting the couii'
, Try to any material financial arrangement OF
monetary crisis.
: Great merit is certainly due to tho French
1nanclers for the way In which this result
, has boon accomplished, and for the skill and
discretion with which they tapped the differ
ent SOURCES of credit which were ut their com
mand. First, the loan Of two mllliards, whict
was In great degree national, or at leas
became So nearly tho whole of 1t having nov
been classified" Us II Is termed in Frenci
. financial phraseology; that IL, transferred
from the hands of those who bought only Il
!, sell again ut premium into the hands Q
i bona fsle and permanent holders. WheI
o this had been fairly aoated, and crisi
o avoided, the Government next appealed u
: the credit rather than the capital Of France
' and the famous subscription Of nearly forty
four milliards, which was realised, was due
Z In reality, to the circumstance that the frs
n installment was allowed to take the shape o
n public securities or bills guaranteed by first
!, class signatures. This, in fact, threw tn
u loan money into the hands Of the great hnan
ic cial houses and capitalists Of Europe, an
a. saved the French people from further drai
n upon their resources, to be followed newt
IN ably by further issue Of paper, and prot
. ablo depreciation Of It's value. All this lai
nc ter portion Of tho loan Is to be gradually
C. and as opportunity offers, classified" In II
xt turn, and transferred from the hands OF tn
NJ banking aud financial world into those Of th
-, general public, the French people bearin
:, meanwhile only the burden Of the increase
Is taxation necessary to dcfray the interes
ne Thus transaction marvellous for Its magn
10 tude was skillfully conducted, and II tn
country remains quiet Will, no doubt, be SUI
| ,aSafnllv nnmnlatad