The morning star and Catholic messenger. [volume] (New Orleans [La.]) 1868-1881, 1875-05-09
The Triumph of France and the Lesson of America
IN. o. Price Current, May

E1- secretary McCulloch, in an able letter
recently published, endeavors to show
| some of the causes of the wonderful recu
peration exhibited by the French nation in
the crisis from which it has lately SO trium-
phantly emerged, and presents facts which
Americans may study with much profit.
| Perhaps the most important feature which
he notes, is the economy and thrift of the
French people. "a French family, ;" he says,
"can live, and live we'll, on less than would
be considered sufficient to save from starya-
| ton an American family of the same num-
bers" cit may not be too much to say
| that the entire population of France could
be supported on food which is literally
wasted in the United States. The number
| OF people Who live beyond their incomes is
less, and the number OF those whose in
| comes exceed their expenditures is greater
! in France in proportion to population than
In any other country"
"Ften again, the French are beyond all
Others u boarding people. There are few
artisans In the cities or peasants in the
agricultural districts who do not keep n
reserve OF coin in their own custody. There
has always been more gold boarded in
France than in all other European coun-
tries combined. 1t is true that the nation.
according to the recognized principles of
political economy, has been the loser nv
having 80 much money lying idle, instead
of performing it's proper Office as q circula-
ting medium but the common people OF
France have II political economy of their
own. They hoard their earnings, parting
with them only under pressing necessities,
OF in exchange for their own public securi-
ties, in which, and in which only, the mas
ses have confidence, 30 that there has al
ways been in France an enormous amount
of gold and silver, which the Government
could reach-in recent years by the offer of
attractive loans to popular subscriptions !;
IN former years by measures, the Justice of
which 1t ls not now worth while to cpnsid-
or. This habit of boarding is of course not
tn be commended but it 10 by no means
certain that France, in the circumstau ces
in which she has been placed, has not, on
the whole, teen the gamer by it.
Tho character of the aggregate is de-
termined by the character of tue individual"
The strength and stability of nation,
either IN war or In peace, depends upon the
personal habits aud character of the popula-
ton who compose it. Economic France
rebounds tn financial prosperity and credit
while eXtravagaut America still submits to
discount on her bills. While too many of
our citizens have been living up to or be-
yond their means, we have, as "a nation
been over trading for years. We have ex-
changed most of the wealth of our soil for
the manufactures and prod nctions of other
countries. Now that we have no reservoir
of California gold to draw upon, we are
forced to make good the balance of trade
against us by buying gold abroad. Among
the encouraging signs of the times observed
by some of our best tinanciers, is a DISPOSE
ton on the part of the people to retrench
expenditures, aud to live within their re-
sources. When this disposition shall have
settled into habit, our financial difficulties
will have disappeared, and our national
prosperity will be established on a certain
and enduring basis"
Mr.. McCulloch also remarks in his letter.
that, notwithstanding the characteristic
thrift and economy of the French people,
the brilliant results noted above might not
have been attained, but for the sagacity
and able management of her statesmen aud
tinanciers. 1t is very probable that had
France been saddled with a rule of iguo-
rance and extravaganza Ito use no harsher
term) like that which has afflicted our
country for the last decade, she, too, might
yet have been f1oundering in financial diff
culties. But such a condition of things is
an impossibility, even for Republican
France. To suppose that any other people
but the Americana would tolerate the mis-
management and knaveay of officials, as we
have done, lie what the lawyers would call
ga violent presumption" In all their politi
cal changes and revolutions, the French
people have kept jealous eye upon the
national credit, and entrusted the manage
ment of their finances only to men of we'll
known ability and integrity.
We think Our people are well prepared
to learn this part of the lesson which the
example of France is calculated to teach
them. They have seen the folly of commit
ting the public trusts to the management
of incapable or dishonest officials; and we
are persuaded that when next they are call
Oh upon to choose their rulers and lawgiv-