The sun., 1907-03-03
FRENCH WEALTHSPREAD THIN.
THE VERY RICH HAVE LESS THAN
4 FOURTH OF IT.
Two Out OF Three or All Adults Who DIE.
Men and Women. Leave Taxable Es.
tRtes Eight and q Half Millions Of
small Land Owners wonders OF THRIFT

small Land Owners wonders OF THRIFT.
France is often spoken OF as the richest
country in the world. A French writer
recently spoke of the republic as the reser-
voir OF capital for all Europe. Even
America has been tapping its enormous
resources of late for big railway loans.
Yet there are no colossal fortunes in
France. There is not one single man who
ranks with the great capitalists OF England
or the United States.
The millionaires Of France possess not
more than one-fifth of the country's wealth,
real and personal. The significance Of
this is enhanced by the fact that the owner
Of $500 600 is a millionaire in Erance-it is
I 900 900 francs. Four-ffths Of the capital
in the country is held by people ranging
from moderate circumstances down to
the level just above absolute poverty.
The distribution of wealth is inferred
from the statistics of inheritances, which
are very carefully kept in France on ac-
count Of the tax which is levied on the es-
tates Of all deceased persons. The annual
mortality for the entire population averages
about 7SS, 900 persons, of whom 200 900 are
minors under 20 years These are not capable
Of leaving any estate.
OF the remaining number is1 900 on the
average die without leaving any property
worthy of appraisal. while $4,000 leave
appreciable heritages. From this it is
deduced that more than two out Of every
three adults OF both sexes are capitalists
on a large or small scale.
In 1908 the total amount OF succession
taxed by the Government was 1924 ,OOO an
francs or &9s4 800 900. OF this only I,I49,-
900 francs or 422S 900 900 was left bv
millionaires.
Persons of small fortune left 1881 900 900
francs or $3.50 10000 This would indicate
that the wealth Of France was held by rich
people and those in humber circumstances
In the proportion OF II 10 co. or less than
one-fourth Of the wealth in the hands Of the
rich class.
But Il is not even true that the greater
part of the oountry's wealth il held bv
those possessing 500 900 francs (SloO 900, or
upward. or the s,7S1 900 900 francs left in
1908 by persons below the millionaire class
S2sl 900 900 vas left by persons who owned
lees than half million n francs and 90s, 900, 900
francs was left by persons having less than
50, 900 francs
The enormous accumulation OF French
wealth, az well as its extraordinary sub
division, is explained largely by the re-
nnarkable frugality and thrift Of the people.
More people TO the thousand look ahead in
France and make provision for a rainy dnv
than in any other country.
At the last published count there we're
II ,707, ,772 working people who were making
regular monthly deposits In the postal
savings banks and their total savings
amounted to l,i3s 900 francs or $685.
100000.
It Is common sight at banking houses 10
zee old women Of the concierge class pro-
duce one or two bonds and collect interest
on them. The shops Of France are well
stocked and the proprietor Of little busi-
ness keeps adding and adding and saving
sou by sou until one day he sells out al a
good price and retires In middle age 10 a
suburban villa to live easily on the interest
on his lfe's savings.
There are no large landholders in the
English or American OF Russian sense,
but eight and a half million Frenchmsn
own outright the farms which they cuIti-
vate. Some Of them consist only II a field
or two, but all are sufficient. with great
patience and skilful tillaRe, to support life,
bring up family and even give the daugh-
ters q modest dowry.
In many a cobbler's shop, behind the bar
Of many tiny cafe, under the caves Of many
a garret in which market woman sleeps,
there il bundle Of papers French Dor rs,
Russian bonds, industrial stocks, what not
which only COM to light or the day when
the coupons are Clipped, but which the
owner treasures and adds to with a pride
that is not all sOrdid.
II Ia through investments of this class
largely that France IL the financial reservoir
of Europe and always has cash to lend
when Some poorer country needs il.