New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-04-30
TIE FINANCES or FRANCE.
COMMENTS ON MR.. MCCULLOCH'S LETTERS.
TIE VALUE OF NATIONAL FAITH

From The saitfuorc Sun.
A second letter by eX-Secretary of the Treas
ury McCuOch, Oh the finances France has just been
published in THE NEW YORK TRIBUNE. In this letter he
not only explains by what means France has able To-
from the misfortun2s of the Franco-Gcrman
War, but also demonstrates the great value to nation
in reality France not at the conclusion of that
poor country; only ostensbly In reality natwiti-
standing her cxhausting wars she has always been the
richest Of the Continental nations and it is mooted
question whether Great Britain has the lead of hcr
wealth AS heretofore shown this wealth IL ascrbed to
the remarkable economy OF the people Who i've ana i've
Te from their ski in cookery for n ,h the cost OF LYING
be too much TO that the entire population OF France
could be supported on food which Is literally wasted in
the United states the rfcnGh are not only economical
and boarding but exceptionally industrious, all the mem
bers OF the family among the industrial classes having
some Employment by which money Is earned. Notwlth
standing her great resources France was only saved
lenders at home and abroad had in her integrity There
not tho slightest doubt OF her good faith Whatever
never permitted IT, interfere with the questions of finance
and revenue upon which the great material interests OF
II the saino could be said OF the United States
Mr.. McCULLoCIrs VALUABLE SERVICE.
1h FROM re n Sa Mc} Di GnehN T." Tur Nrv
YORK TRIBUNE the finances of France. printed else
where. viii DO read with general interest by those who
which many OF its aspects finds parallel in coun
try Both nations have been through long and eXpen,
debt But France rccupcrates much more rapidly than
the United states and Mr.. McCulloch does valuable
service in pointing the OF this strong contrast
He finds these very largely in the different habits
of the two peoples in the economical saving and indus
expensive wasteul habits Of the Americans and he
large numbers of nonroduceis we support but chiefly
he attributes our nonsuccess to the want OF an Intelligent
financial policy firmly and consistently adhered to.
TIE SALVATION OF FRANCE.
From The Troy Times.
The second letter of Mr.. McCulOch, ex-Sec-
rotary Of the Treasury, to THE NEwYoRK TRIBUNE. i'll
illustration OF the financial problem, using the expert
nothing absolutely new in IT, yet certain facts
genosy and strikngly grouped that they produce the
ncnty a self-supporting nation, just what the United
states might and ought to be TO an even greater extent
climate is not propitous than ours, her SOIL IL
not moro fertile, ana her people are nor more vigorous
Intelligent or ingenious There Is one feature OF Mr Nc
Will De observed that he dwells with peculiar force
upon the fact that the good faith OF France in the
Observance of her pecuniary obligations has
never been questioned. Not only her own people,
but the moneylenderS of the whole world are able
to rely with entire confidence upon the pledges made to
them. France, i'll fact, has no public men VINO Imagine
that the OF schemes no 3r e anI a
people mad enough to encourage such notion Quarrel
classes Of Frenchmen Monarchists Imperalsts and Re
pubicans united in recognizing the wisdom ana ne
cessy OF maintaining intact the financial credit of the
government no matter what its form may be at the mo-
ment, who stands at the head OF affairs And this
characteristic has been the salvation or France when
other powers similarly situated immediate emergen
ces but cherishing loose notions in regard TO national
A LESSON TO BE FAITHFULLY STUDIED.
FROM The Finland W. Herald;
TIE NEw-YORK TRIBUNE Is publishing an
interesting series letters from Mr. McCullOch the Lon
don banker and formerly Secretary of the Treasury
The object Of these letters is to throw light upon the imam
caI problem Of this nation Mr. McCulloch has had large
exnorience in the management OF banking concerns ana
is familiar with the natural laws when govern tne move
ments OF credits and speculation In these letters ne I'M
dcrtakes to explain how France mas recovered e 80
promptly from the and exhaustion 0ccas0ned by the
late war with Germany Few countries have ever been III
worse condition. The people Were demoralized, the
Government was provisional only, the Treasury was
empty and the nation on the verge OF political ana
financial ruin But the financial condition OF France
ia in some respccts better that OF any other nation
in the world No country in Europe has been prosper
ous IA France during the last two years. This les
son of France should faithfully studied In this country
We have great resources and II financial affairs had
been since our recognized well those Of France
have BEEN financial strength might nave Deen wltn
out limit.