The sun., 1916-12-24
HOW. Is FRANCE TO
SETTLE HER BILLS?
BY Putting Same Effort Into
Civil Pursuit as in War,
Says Peret. .,,..
PRAISES RIBOT'S WORK
Declares Finance Minister
Gave People Chance to
Show Confidence.
PRAISES R1BOT'S WORK
Correspondence Of the Associated Press.

Correspondence Of the Associated Press.
PARIS, Dec. l0.-"How is France going
20 pay the bill? BY applying to pro-
ductive occupations tho effort she has
sustained In war; IN the opinion OF
VI. Raoul Pcret. former Minister of
Commerce. III an interview lie also
declared that the theory OF reciprocity
ought TO he applied 20 the commercial
relations between France and the United
States after the war. NJ. 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 Rep
resentatives.
Alexandra Ribot. Minister Of Finance.
has had the delicate task Of borrowing
The unprecedented sums that nav been
swallowed up by war. Raoul Peret. who
has not much more than half of VI.
Ribot's IS years. has before him the
task Of finding The whcrcwithal to liqui-
date the debt.
M. I,ibot, by his promp. action In
issuing short term bonds. rendered an in
estimable service to France says N.
Ferret. HE gave the French people a
chance to show their confidence: they
brought him 30 much money that II was
not until the sixteenth month of hos
Titles that he found II eypedient 10
issue longer term bonds.
Investments In French bonds are
never a gamble; Yet. In a sense, the
purchase of these securities was n wager
on the result OF the conflict and upon
the ability OF France to foot the bin.
French peasants, laboring men. mechan-
les. capitalists-men and women OF all
classes hat have money saved up
have been wagering In that wav a
billion n month for nearly two years
that France will triumph. Thirty-three
and a half billion francs. all told. ",
R.bnt found in two years tim, In The
Iucke;s of our Ijeop!e.
Franco IN a two year effort accom-
plished In military preparation what II
ook Germany for,y-hve years 10 10.
The same effort applied 10 Industrial ac-
,ivity will do as much in solving the
grave financial problem tho war will
have lefi on our hands. but II Is scarcely
necessary to say that We shall, need time
to restore our finances.
1T Is difficult. and perhaps futile. 20
make estimates while the great effor
Is going on. But s%upposing he war adds
30. zoe. 000, 900 francs to our present ma
,!ona, debt OF 10000. 900. 900: We shall
owe n hundred billion francs. That In
wolves an annual interest OF 5000, ooo.-
600 francs n Is sufficient TO require
serious reflection. yet IL does not
Brighten the French people. upon whom
the charge Is going to fall They bring
their money into the Treasury as freely
to-day as they did after the battle Of
the Marne, when We thought Is might be
over In less than n ear. n they know
exactly what they are doing.
France has great reasons for wishing
70 promote closer relations With the
United S:atcs.' said VI. Perot In Vonclu-
sion. There are reasons OF sentiment
ana policy besides business reasons. We
shall want TO SEQ YOU use more Of our
products h before. and We shall need
moro from you.
What is desirable. even necessary. 10
facilitate these growing exchanges is "A
commercial tariff system. Your ad
va!orem tariff is the obstacle. II almost
kept our industries away from the "a
Francisco fair. We are happy now that
they went there and We have been glad
TO see your industrial representatives
here. II IL to he hoped that nj OF
closer intercourse may come a solution
10 your great benefit as we'll as ours.
II Is the theory OF reciprocal advantages
that ought to DO applied"