The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1876-11-16
What France Has Accomplished.

AT recent meeting OF the Social
Science Congress in Liverpool, Mr.
Shaw Lefevre, NJ. p, delivered an ad-
dress, in the course of which he said
I cannot avoid remarking on one of
the most extraordinary economic facts
of modern times, namely, the revival
of France from the misfortumes and
losses entailed upon her by her war
with Germany. Never did country
appear to be more hopelessly crushed
by the weight of its losses and by the
large indemnity imposed upon it by
the victors. Yet she has borne her
burden with heroism, and has emerged
from her difficulties with an elasticity
which has surprised Europe. The
contrast between France and Germany
at this moment is most remarkable.
The defeated, Inundated and plundered
country is, appal emily, richer than
ever. The victorious country, the
Pals de Milliards, the recipients of
the indemnity, appears to be not only
none the richer, but absolutely the
poorer for the transaction. The
feverish excitement caused by the in
fluX of so much wealth has now given
place to reaction in which all COM
mercial transactions are involved;
general gloom and distress peryades
the country. In recent comic paper
published at Berlin, it was suggested
as remedy for the general distress in
Germany, as compared with France,
that Germany should again declare
war against France, that it should
again march its armies to Paris, again
defeat those of France, but in making
peace, in lieu of imposing an indemni-
ty of 200, 10000 on France, it should
agree to pay that amount to the con-
quered. Cheers and laughter. BY
that means alone, it was humOrOuslv
suggested, would Germany secure to
itself the prosperity which France was
enjoying. What, then, is the econo-
mic explanation of this great differ
ence in the condition of the two cOun-
tries? Why is it that the loss of
two milliarls has not male the one
country poorer or the gain not
made the other country richer? Is
not the explanation to be found in
this, that the true and only source of
wealth is production and saving?
The French people are the most in
dustrious and saving that the world
contains. In no other country is
wealth SO widely distributed. In none
are the habits of industry, economy
GNU ,niIIt more universally exercised.
After the war these people, from the
highest to the lowest, met their losses
by even greater industry and econo-
mics than ever. Now, when they
have retrieved their losses and over
come their difficulties, this habit is
still continued. On the other hand,
the influx of money to Germany led to
a general expansion, not only of
trade, but of the habits of living.
Luxury of all kinds increased. Fool
hardy speculations multiplied. Tn
productive employment was stimu-
lated. In the subsequent collapse the
people as whole have lost more than
they gained by the indemnity, while
it is no easy task to divert so much
unproductive labor into its old chan
nels of production. The great re-
Operative power shown by France
has again turned the attention of
economists to her social condition.
What is it that constitutes her
strength? What is it that creates this
universal habit of thrift and industry?
it cannot, think, be doubted that
the answer is to be found in the wide
distribution of property which is so
distinguishing feature of the French
system. Upward of seven millions of
persons own property in land or houses,
and of these five and half millions are
owners of agricultural land. Upward
of four millions of persons own be-
tween them the public debt of France.
The passion for land has not only Gre
ated five millions of peasant proprie-
tors, the most industrious and thrifty
people in the world, but it has spread
through the whole population, from
the highest to the lowest, the feeling
of individual ownership, the desire to
become independent and the habit of
thrift and saving which enables them
to become So"