The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-10

The public debt of France is by far the
greatest in the world. Here is nation
with only IS, 100000 of inhabitants with a
debt of over $4,000, 900 francs. Russia
has four times as many inhabitants and
not half the debt. The United States of
America has 81 900 of inhabitants and
not 9,e90 900 francs of debt And yet
the French people have just taken UP
Russian loan that no one else would
have and may be soon lending millions
TO our own precious government. The
secret is that while France as a State
is more heavily indebted than any other
in the world, her people, as popula-
ton, are the richest, the English only
excepted And the distribution of this
wealth is infinitely more equal in France
than in the British isles. The country
long ago achieved for itself the enyiable
name of pays no petit renters eland
of little capitalists. The French have
gigantic debt-but they owe 1T to them
selves; it is not borrowed abroad; it is
held at home. In France you see the
apotheosis of the popular loan.
POPULAR BONDS.
Cast your eye over the list of the
Credit Foncier. In 1879 there was an is
sue of communal bonds of 800 each.
There was another such issue in 1880. In
1891 communal bonds of $50 apiece were
issued Bonds as low as $40 apiece have
And what the general government does
the municipalities do we'll. Who buy
these popular loan" bonds? Servant
GIRLS cabmen, workingmen, and even
little girls and boys. The soiled doves,
even the beauties of the night and of the
street, invest their surplus income in the
State securities, which. although they
only bear per cent. interest, they are
persuaded are not corruptible by moth
or rust A year ago the city OF Paris IS
sued a loan in $40 bonds, to bear 2la per
cent interest, and with lottery attach
ment to make them more attractive, as
the habit regularly is. Authorized brok-
ers in different parts Of the city were
charged with the selling of these bonds.
The public was advised that at a. m.
on a certain day they might subscribe
first come first served. At 10 o'clock at
night-the night before-each brokers'
Office had string of several hundred
men, women and boys of all descriptions
waiting patiently in the calm moonlight
with their breakfasts in their pockets
waiting patiently until the sun should
rise. until the clock hands crawled
around to a. m. 1t was a sight to give
instruction to the world at large.
To those who dwell beneath the bene-
fits of their influence there can be but
one answer to the question: Are State
lotteries immoral?" They are not i'm
moral when they are worked as in
France, when their objec. is to persuade
the people to save up their money byfin-
vesting it in government stock The
lottery has always been the pet vice of
the Latin races. 1t is said to have been
the ruin of present-day Italy. In France
the passion is taken advantage of in a
legitimate way, for State, municipal and
colonial bonds. Even great business en-
terprises receive permission to add the
lottery attachment to their bonds The
Panama Canal Company, for instance,
took advantage Of it: and. for that mat
ter, the present speculative value of the
stock depends almost as much on the
possibilities of the lottery drawings as
on the hope OF the ultimate completion
of the enterprise.
The method of procedure is as follows:
Suppose the State issues a new loan to-
day. Each bond, whether IL b. $40 or
a $40 one. has it's own number. When
the bond is issued its number is inscribed
on square piece Of metallic cloth, which
is then rolled and placed In great
metal wheel that turns on an axis. After
all the numbers have been put In the
door of the wheel Is sealed up- Each
year, on given day. the door - opened
after the seals have been legally verified.
ana tho wheel = oe< tuyutHG a min 40