St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-01-01
A PICTURE OF POVERTY
Tie French Rspnblio Reported To Be
Threatened on All Hands With Finan-
cial Disaster.
New Years Comes TO More Unhappy Fam
Lies in the City Of Paris Than
Ever Before.
The Soudan War the Most Important
Question Before Eugland--Bur-
n8ese Annexation.
Davitt Asserts That Ireland Wants a
Man Of Brains NOT a Royal show,
for VicerOy.
The Frencb F5nancfaI Crisis.


PARIS, Dec. 3I.-An English observer
has recently given the following picture Of
the commercial and industrial situation IN
France. For the month of November the
figures Of French imports and exports
show decline OF Sf5. 100000 as compared
with the same month OF 1854. There was
a decrease on both sides OF the account
There Is no doubt that France Is approach
ing q crisis in commercial and financial
afairs and L VIII be long felt by the
kralea people. The causes which are
sloWfF Gnd surely bringing about this state
Of affairs are several but the most pr0mi-
nent one Is the eXtIaVagance Of
the government during the past
several years. The g0pernmeut since
Marshal MacMah0n retired 20 private life
has built thousands Of miles of Improbable
railways and thousands Of schools. OF
which fOur-lfths were not wanted. From
500. 900, 600 to $500. 600. 600 for the roads
and from $50. O0Q 600 20 S175, 900, 600 for
the schools were thrown into circulation
and created the false prosperity Of which
1851 marked the eliminating point PeO-
nle literally did not know ghat to DO with
their money, and as it could not end profit
able employment IN agriculture and indus
try it went into an sorts of stock exchanges
and building operations. Now has come
the reckoning, and il Is by no means q
cheerful one. Though taxation ia every
form and shape has reached heights un-
dreamed Of before the income from this
source has fallen of during the last few
years and the
MOST INGENIOUS BOoKKEEPING
has not been able 70 hide from the public
the constant de6eit A floating debt is roll
Ing up Of which nobody knows the real
amount So long as money can be had Il
Is not supposed 10 matter whether Il be the
states own or a loan. Year after year
France has been spending millions beyond
its income. If 10 proceeds much longer In
las habits Of extravaganza the French treas
ury simply viii have % confess it.
self insoiyent The prospects or agrieul-
ture and industry are not more cheering
owing to the competition from America.
Australia and India, French farming has
been less profitable Of late Years, and the
value OF tie cattle has dropped so per cent
The investors in house property are not
much better of. IN the provinces such
property has become very difficult Of sale
unless at enormous depreciation. and In
Paris the state Of things IS not much better,
though there is of course a larger market.
More than 5000 apartments are 70 be let IN
Paris.
RENTS HAVE GONE DOWN
so 70 80 per cent, and even at reduced
amounts it is impossible 10 let. IN the
Boulevard Haussmann and Boulevard Des
Italiens, IN fact In the very heart OF com
merelal Paris, You can see everywhere for
months, nay years. bills stuck up '.to let.
where formerly it vas most difficult 20 Get
a room. The bOurse has Of course suffered
most Of all from the general reaction. In
SSl the brokers were shouting, shrieking
and driven mad with overw0rk, unable 10
Ill the orders which poured in. Now Of
the sixty privileged. barely dozen stand
IN their allotted places and talk Of the new
play which commenced the night before OF
OF the Balkan question. The French republic
viii only buy government stock 1t
still feels the losses sustained IN 1850 and
1881. How great the losses were may be
judged from the endless list Of companies
in bankruptcy or liquidation and from the
prices Of tue sh3res OF these companies stu
alive. What has freely sold at SI25 10
$3.50 is now worth from Ss.25 70 S6.75.
Even ~ the best stocks the deprecation has
been fu. .UL The fan in railway shares
is due to the falling on OF traffic. and this
again IL caused by the general stagnation Of
trade The keen suffering among the
poorer classes may be gauged by the fact
thoto one of the industrial towns. St. Edenne.
hGs lost 1900 inhabitants cut
Of 13O, 600. They have left
the town to seek country labor in some
other employment. Old established com
panies which for many years have paid
regular dividends. have absorbed their re-
serve funds and pay no dividends.