Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-12-19
FRANCE IS WELL
SUPPLIED WITH
MONEY FOR WAR
Large Sums Advanced to Az
lieSi Income Is Reduced.
Heavily, but Banks Are
Furnishing Funds,


Paris Dec. 1S.-Minister of Finance
Ribot explained the 1916 budget to-
day to the appropriations committee
Of the chamber OF deputies He said
in part
when the war began. the French
treasury had not taken any precau-
tions to enable IL adequately TO meet
the expenses involved. This Is one of
the proofs that we did not want war.
II was forced upon us, and aver that
we are not responsible for the un-
claiming of those terrible evils from
which the belligerents as well as neu-
tral countries are suffering today.
The interests of all peoples are so in
terwoven that the nations not actually
engaged in the hostilities are deeply
affected by the war
Better Credit Needed.
M. Ribot said he thought the most
pressing need today was the re-estab-
fishing Of credit temporarily para
lived by the first shock of war. The
intricate system of commercial and
industrial credit. brought to perfec-
ton after centuries of labor had been
stunned for the moment but was now
recovering.
France will not lack resources to
continue the war, which she did not
seek but which she Is resolved to pur-
sue to the finish without faltering,
NJ. Ribot continued From finan-
cal viewpoint Frances reserves are
such that she can regard without
anxiety the prospect of prolongation
of hostilities. The end of the war VIII
not depend at any time on the status
of our financial power
NJ. Ribot Informed the appropria-
tions committee that the government
had advanced to allied or friendly
countries these sums. TO Belgium,
$3.50. .OO0, 900 francs ($50.000): to Ser
via, 90,000,00 to Greece, 20,lOO,OOo
francs. to the Bank OF Montenegro,
500. 900 francs
The treasury had in circulation on
September /, 427,000,000 francs Of
treasury bonds. This was increased
before the end Of November to s40,-
900 900 francs, the total authorized
under the governments decree Of Oc-
tober /. However. the government
ON December authorized an increase
TO a total of 400, 100000 francsr The
total national defense fives, sub
ScTlDcu luf io", cn're'o V'S ''''
francs.
Funds to Government.
The finance minister explained that
the Bank of France under the law
of November IL, 1911, advanced TO-
the government for mobilization ex-
penses 1900, 100000 francs and the
Rank Of Algeria 100, 100000 francs
This proved insufficient for the nrst
eypenses of the campaign ana the
government called upon the bank IN
September to increase its advance TO
an ultimate total Of 6,00O,000, 900
francs.
M Ribot requested sthe appropria-
fions committee to recommend that
sanction this agreement
with the Bank of France, which was
dated October 81.
Touching on the financial situation
M the bank and the country, alter
The war. the minister said that the
hank without danger to its credit,
noIIlJ make during the war such ad-
,.ances AS would be required. 1t would
ho after The war, at the moment whep
,.anavment was necessary. that the
greatest difficulties would arise
rha greatest peril for French IL
nance he continued, would be for tho
eo,,ntry TO he Obliged TO accustom IT.
solf IN the compulsory circulation OF
bank notes. , r,a,uos
The governments nori,iai ,sso"ves re
200 decreased In every direction, the
20 .'s,,,s,or said stamp taxes. Bourse
.ransfors customs and various lndi-
10. reventIes. such as those from
sugar receipts and spirits, have d.
minished AZ per cent. Th,s ls ae''iou
able to the large numper y. eon
sumers called to the colors, soiuneas ',
restraint of the people. carry civs"s
hours and prohibition q me sa'e ~
a absintre Tobacco receipts hasr ~
unfinished 10 per cent.