Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1875-05-10
Er0m tAs Nss YsrN rsa,uae
FRENCH FIN ANCE>.


rev c141IFN@S lave cscA 0ce1 IN
worse eo1dltiea than Frasee appeared
to BE in at the close Of the late war with .
Germany. Her armies had been routed
her emperor had become fugitive. her
strocgholds. s9cA IS >srasoerg and Metz.
had been captured Paris, starved into
Submission. had been entered by the
German forces. >oue Of her most fer
tile and popQlogs districts had been 50
devastated that agents Of contributors
in Great Britain and the United States
had been sent into them 10 supply their
unfortunate inhabitants with food and .
eloshiug. farming implements. and seeds I
for the next years crop; and As IF all 4
these misfortunes had not sled her BIT 4
ter cup. It had been filed 70 oversosing 4
By bloody coatest-Frenehmen against I
Frenchmen-sor the possession aud con
troll Of Paris. Her beautiful capital had I
been again eesieged not BY foreigners. /
bat by her owu people. the monument Of
her glory had been DESTROYED. not BY
Germans. but BY those who shared n
the national honor Of the achievements /
which these monuments eoumenorasesl-
By this civil war. 50 unnatural and 30
depIorabIe. the sympathy Of ether ua-
tons. excited IN her behalf as defeat fol
lowed defeat IN her contest with the
Germans. had been turned into IndlFer-
ence. if not disgust. and 50 HELPLESS had
she become that submission 10 the de-
mands OF the cougueror was her only al
tentative. What those demands we're,
the world krow-she cessian Of two Of
her beautiful and productive FrOvinees.
and the payment Of thousand millions
Of dollars to Indemnify Germany for the
expenses Of the war. Never hefare had
4 great and powerful nation been 50
speedily and thoroughly mastered rare
| u. # ever. has brave and proud PEG
pie been compelled 70 conclude h0stlli-
ties with 80 disastrous results. With !
government provisional only with de-
moraIEed people with an empty treas
ury. IN immense debt. 70 be ueariy dou-
bled By the expenditures Of single
year Cincluding the indemnity this
great uatiou- heretofore enc Of the most
powerful and influential N Europe. seem
ed to be On the verge Of political and f
nanci1l ruin
Such was France as she appeared be
fore the world some four years ago and
what Is her condition to-day2 l aIIude
net TO her political condition. although.
N the organization Of . government On
republican basis. she has surprised the
world BY her wisdom and prudence. but
what IS her financial couditlou It Is
n most respects better than that Of any
nation N the world Her waste places
have been restored her industries have
been stimulated INTO unprecedented AZ
tlyItF her exports. largely exceeding
her Imports. have made her great cred
it8r nation. 50 that gold has been stead
IIy drawn 70 her from England from
the United States. and even from Ger
many. until the Bank Of France holds
N It's stroug rooms the enormous sun Of
three hundred Millions Of coin and bull
ION. and It's notes, although not absu-
: Iutely Convertible. are only the tenth Of
r cue Per cent discount If her prostra-
: ton was astonishing By It's suddenness
Z and completeness, her reeuperatTEe pow
: CT seems still more wonderful 1t Is
: undeniable that no country N Eur0pt
, has been SO prosperous - France has
been during the Two past years In NJ
: ether country has labor Teen 20 vel re
b; warded In nouc has there been Sc II
e tie monetary or commercial disturbance
2 It Is an anomaly IN the financial histar-
= Of nations that the couquering nation {
IS which an enormous indemnity has bee
l. paid has been. from the beginning 0
the payment Of the instaIIments. suhjec
q greater financial disorder and embar
ae rassmens than the nation from whie
T. the indemnity was exac5ed- tt q tru
J. that this indemnity was paid with Dor
T. ruEed money, but L Is also true that Ii
L French people were chiefly the lender
Il and that the securities which were SUI
y scribed for BY the citizens Of other stat
e have been steadily going hack 70 Franc
as 50 that the French debt, the largest
Is the world. more than twice as large
II that Of the United States. Il literally
ne home debt Here Let ne remark I'll
d. this enormous indemnify af a thauzar
n n Millions Of dollars was paid By Fran,
a. "a Germany N less than two years VI
or scarcely any disturbance 20 the mon,
Ell markets Of other naSiouz, contrary "a Z
7 IN predictions Of some Of the most emiue
= Of European fnancierz It did not zee
: possible that 50 great Displacement
ar capital couId take place without cousi
one erzhIe disturbance of International :
'm- changes That this transfer vas effe
= et within 50 short = period without D
vol duGing the anticipated trouble Is an :
he denee uoc only Of the wisdom Of /:
zZie French 6nanciers by whom this n,
feaS was accomplished, but also ST