Omaha daily bee., 1916-12-28
AMERICANS WILL
HELP FRANCE TO PAY
Raoul Peret Suggests Theory
of Reciprocity" Between
the Two Republics.
NEED MUCH FROM THE U. s.

Correspondence OF The Associated Press.)
Paris, Dec. l2.-"How is France
going to pay the bill? By applying
TO productive occupations the effort it
has sustained in war" in the opinion
of NJ. Raoul Peret, former minister
of commerce. In an interview with
the Associated Press he also declared
that the theory of reciprocity ought
to be applied TO the commercial rela-
tons between France and the United
States after the war. M. Peret is
now "rapporteur" of the budget in
the Chamber OF Deputies-a post
equivalent to that of chairman of the
ways and means committee of the
house of representatives.
Alexandra Ribot, minister of
finance, has had the delicate task
of borrowing the unprecedented sums
that have been swallowed up by war.
Raoul Peret, who has NOT much more
than half of M. Ribot's IS years, has
before him the task of finding the
wherewithal to liquidate the debt.
IN. Ribot, by his prompt action in
issuing short term bonds, rendered
an inestimable service to France"
says M. Peret. "He gave the French
people a chance to show their con-
fdence; they brought him so much
money that it was not until the SIX
teenth month of hostilities that he
found it expedient to issue longer
term bonds. Investments in French
bonds are never gamble, yet in a
sense the purchase of these securities
was wager on the result of the con-
fict and upon the ability of France
to foot the bill. French peasants, la
boring men, mechanics, capitalists
men and women of all classes that
have money saved up-have been
wagering in that way a billion a
month for nearly two years that
France will triumph. Thirty three and
a half billion francs, all told, M. Ribot
found in two years time in the peck
cts of our people.
What France Did.
France is a two years effort, ac-
complished in military preparation
what it took Germany forty-6ve years
to do. The same effort applied to
activity will do as much
in solving the grave financial prob
lem the war will have left on our
hands; but it is scarcely necessary
to say that we shall need time to
restore our finances.
at is difficult, and, perhaps futile,
to make estimates while the great
effort is going on, but, supposing
The war adds 70,0000O0,000 francs to
our present national debt of 10000
100000, we shall owe 100000, 600, 900
terest of 5,000,0O0,000 francs, and is
sufficient to require serious reflection;
yet it does not brighten the French |
francs. That involves an annual in
PEOPLE upon who mthe charge is go
ng to fall. They bring their money
INTO the treasury as freely today as
hey did after the battle of the Marine,
when we thought it might be over in |
less than a year, and they know
Exactly what they are doing.
Sentiment IN It.
France has great reasons for wish
ng to promote closer relations with |
The United States" said M. Peret, |
in conclusion. There are reasons
If sentiment and policy besides bust
less reasons. We shall want to see
you use more of our products than
before, and we shall need more from
you. What is desirable, even neces-
'ary, to facilitate these growing ex-
;hanges is commercial tariff sys-
em. Your ad valorem tariff is the
obstacle. 1t almost kept our indus
ries away from the San Francisco
air. We are happy now that they
vent there, and we have been glad
o see your industrial representatives
lere. 1t is to be hoped that out of
loser intercourse may come a solu-
ion to your great benefit as we'll as
,urs. 1t is the theory of reciprocal
advantages that ought to be applied"
Persistence Is the Cardinal Virtue in