The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-01-01
Facts and Figures Showing that the Country
Is on the Verge of Great Industrial
and Commercial Distress,
The Result of Reckless and EXtrava-
CANT Government Expenditures.
English Liberals Privately Ask Mr.. Parnell
I. to Make Statement of His Demands
American Views of the Congo Country.
DANGER IN FRANCE.

DANGER IN FRANCE.
The Political Crisis Liable To Be Followed by
Severe Business Depression.
PARIS, Dec 31.-President Grevy accepted
the resignation of M. Brisson, the Premier, last
evening, and this morning summoned, N. De
Freycinet, the Minister of Foreign Affairs, to
form new Cabinet M De Freycinet, however,
is reluctant to accept such responsibility at
the present moment, in view of the gravity of
the political situation in France. He has asked
the President to grant him time to consider the
proposition and to consult with his friends and
the Republican leaders.
All the retiring Cabinet ministers except
Premier Brisson will attend the receptions at
the Elysee, tomorrow. President Grevy read
lily acquiesced in M Brisson's desire to be alb
sent. NJ Floquet does not desire to quit the
Office of Speaker of the Chamber of Deputies for
that of Premier.
NJ. Cemenceau, in La Justice, warns the COM
ing Premier that it will be chimerical to try to
form working majority if he disregards the
Radical party. The government majority on the
Tonquin credit, he says, has ceased to exist.
An English observer has recently given the
following picture of commercial and industrial
affairs in France: For the month of November
the figures Of French imports and exports show
a decline of $15000,000 as compared with the
same month Of 1884. There was decrease on
both sides of the account. There is no doubt
that France is approaching crisis in
commercial and financial affairs, and one that
will long be felt by the French people. The
causes which are slowly and surely bringing
about this state of affairs are several, but the
most prominent one is the extravaganza of the
government during the past several years. The
government, since Marshal MacMahon retired
to private lfe has built thousands of miles
of Improbable railroad and thousands of
schools, OF which four-ffths were not wanted.
About $4O0 000 900 to $780, 0O0 900 for the roads,
and from $l50,000,0 600 to SIZE, ,0O0, 900 for the
chools were thrown into circulation and Gre
ated the false prosperity of which 1884 marked
the eliminating point People lit
orally did not know what to do
with their money. AS it could
not find any profitable employment in agricult-
ure and industry, it went into all sorts of stock
exchange and building operations. Now has
come the reckoning, and it is by no means
cheerful one Though taxation in every
form and shape has reached heights un-
dreamed of before, the income from this source
has fallen off during the last few years. and the
most ingenious bookkeeping has not been able
TO hide from the public the constant deficit A
floating debt is rolling up, of which nobody
knows the real amount So long as money can
be had it is not supposed to matter whether it be
the States own or loan.
The prospects of agriculture and industry are
not more cheering Owing to competition from
America. Australia and India, French farming
has been less prosperous of late years, and the
value of live cattle has dropped 30 per cent.
The investors in house property are not much
better Off Such property has become
very difficult of sale, at enormous de-
precautions, and in Paris the state of
things is not much better. More than fve thou
sand apartments are to let in Paris. rents have
gone down 80 to 80 per cent and even at reduced
amounts it is impossible to let In the very
heart of commercial Paris you can see every
where for months, nay, years. bills stuck up
ITO Let" where formerly it was most difficult
to get a room. The Bourse has of
course, suffered from the reaction. In 1881 the
bookers shouting, shrieking and driven
mad with overwork, unable to fill the orders
which poured in Now, Of the sixty privileged,
barely a dozen stand in their allotted places,
and they talk of the play which came
out the night before, or of the Balkan
question The French public will only
buy government stocks. 1t still feels the losses
sustained in 1880 and 1881. How great these
losses were may be judged from the endless list
of companies in bankruptcy or liquidation, and
from the prices of the shares of those companies
still alive. What has freely sold at $125 to $3.50
is now worth from Sc so to So 75. Even in the
best stocks the depreciation has been fearful.
The fall in railroad shares is due to the falling
off of traffic, and this again, is caused by the
general stagnaton of trade.
The keen suffering among the poorer classes
may be gagged by the fact that one of thesin-
dustrial towns, st. Etienne has lost Ii, 900 in
habitants out of 10000 They have left the
| town to seek bread by country labor, or in some
| other employment. Old established companies,
which for many years have paid regular dlvi-
dends, have absorbed their regular funds, and
| pay no dividends.