The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1916-12-26
HOW FRANCE Is TO
, PAY HER BILLS
(By Associated Press.)

/ NDS AA1'0SARSV0 = 4NS6.J
Paris, Dec. 23.-"How is France
going to pay the bills? BY applying
to productive occupations the effort
|she has sustained in war;" in the
lopinion of NJ. Raoul Petret, former
Minister of Commerce. In an inter.
view with The Associated Press he
also declared that the theory of reel.
Iprocity ought to be applied to 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 chair
man of the Ways and Means Com
mittee of the House of Representa-
tives.
Alexandra Ribot, minister of FL
nance, has had the delicate task of
borrowing the unprecedented sums
that have been swallowed up by
war. Raou1 Peret who has not
much more than half of M. Ribot's
Is years, has before him the task
of finding the wherewithal to liqui-
date the debt.
I'M. Ribot, by his prompt action
in issuing short term bonds, rem
dered an inestimable service to
France" says M. Peret. "He gave
the French people chance to show
their confidence; they brought him
somuch money that it was not until
the 10th of the month of hostilities
that he found it expedient to issue
longer term bonds. Investments in
French bonds are never a gamble;
L yet, in sense, the purchase of these
securities was wager on the result
of the conflict and upon the ability
of France to foot the bill. French
peasants, laboring men, mechanics,
capitalists-men and 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 andsa half billion francs, all
told, M. Ribot found in two years.
time in the pockets of our people.
France in two years efforts, ac-
complished in military preparation
what it took Germany As years to
do. The same effort applied to in
dustrial activity will do as much in
solving the grave financial problem
1.-THE war will have left on our hands;
but it is scarcely necessary to say
that we shall need time to restore our
finances.
1T is difficult, and perhaps futile,
ITO make estimates while the great
effort is going ON, but, supposing the
war adds 70 billion francs to our
inresent national debt of 80 billions,
I'VE shall owe hundred billion
francs, and is sufficient to- require
serious reflection; yet it does not
frighten the French people upon
whom the charge is going to fall.
They bring their money into the
treasury as freely today as they did
after the battle OF the Marne when
we thought it might be over in less
than year, and they know exactly
what they are doing.
France has great reasons for
wishing to promote closer relations
with the United States - said M.
Peret, in conclusion. "TheSe are
reasons of sentiment and policy be-
sides business reasons. We shall
want to see you use more Of our pro-
duct than before, and we shall need
more from you. What is desirable,
even necessary, to facilitate these
growing exchanges is a commercial
tariff system. Your ad valorem tariff
is the obstacle. It almost kept our
industries away from the San Fran
cisco fair. We are happy now that
they went there, and we have been
glad to see your industrial represen-
tatives here. 1t is to be hoped that
out of closer intercourse may come
a solution to your great benefit as
well as ours. It is the theory of
reciprocal advantages that ought to
be applied"