New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1917-10-20

6SSOn neTAtn1NS ~ nVtNEO CANAL
The increasing activity Of her rail-
way system Is similarly demonstrate
able. In 1859, there were In France
lO,743 miles of railway track in 1912,
there were 1916 miles.
Between 1869 and 1912, inland navi-
CATION increased $50 per cent; while
the traffic Of her mercantile marine
has amazingly expanded. The tonnage
entering French ports in 1869 is set
down as 100000 tons. In 1912
this had been increased to 100000
tons.
Leaders in American finance ascribe
this solidarity Of the French republic
to three influences; first, thoroughly
sound banking system, centralized in
one of the greatest banking institutions
Of the world. the Bank Of France; Sec
|ond, the ingrained thrift and frugaliry
of the French people as whole, to-
gether with national economic vigOr
not elsewhere surpassed; third, wise
supervision. and patriotic cooperation
by the government with banking and
business interests.
The government does its part to war
rant and retain the confidence Of the
holders Of its securities. One Of its
wise policies is to impose new taxes to
defray the interest charges on new Sc
curity issues. It began this practice
after the Franco-Prussian war, and Is
today following the same rule in regard
to securities issued to finance the pres.
ent conflict. This continuity of pur.
pose, doubtless, will prove renssuring
to all holders Of French government
securities.
The Franco Prussian war Of 1870
1871 taught the French people the
meaning of thrift and economy. So
well did they learn this lesson. that
the whole sum of the indemnity de-
manded by Germany, $1,000. 1000, 900,
was raised within the republics con-
fines by its own Inhabitants and paid
of more than one year before the time
stipulated by the Germans.
The habit thus acquired has never
been forgotten by the French, and to-
day the aggregate number Of investors
purchasing the French war loans has
reached the amazing total Of $500. 600
individual subscribers. Perhaps no 9th.
er country, in proportion to its popula.
tion, can make 80 good showing.
France Is particularly fortunate in
that her small investors prefer "safe"
investments rather than offerings
which promise high returns. Govern
ment rentes, In France are perpetu-
a. and this Characteristic seems to Oh.
tain for these government bonds In
creasing favor In the eyes Of the
French people.
The points Of sympathy between
France and America ere too many to
enumerate, but the spirit Of liberty and
its resultant democracy are, today a.
always, the major ideals Of both ma
lions. Seeking no victories but those
Of peace, no territory except their own.
no sovereignty except sovereignty over
themselves - the independence and
equal rights Of the weakest member Of
the family Of nations are to the people
Of the United States and Of France en-
titled to a. much respect a. those Of
the mightiest empire. In defense Of
these principles, France II engaged In
q death struggle with militant autoc-
racy and ruthless aggression. and It 10
not surprising to learn that she has
loaned to her allies and to other friendly
states 1000, 100000 francs with which
20 further the cause Of democracy. 4
n IN keeping with Americas traditions
that since the date on which We for.
mally aligned ourselves with France
and her allies In the great struggle.
our government has lent to France
3370OOOyO00. 49,
Il u eminenfiy fitting that America
should now b fighting on French soil
to make the world safe for democracy.
The liberty that America has enjoyed
for 40 years France helped her to
achieve. The swords Of Lafayette and
Rochambeau, aided b. the guns Of De
Grasse upon the high seas assisted IN
cutting the foreign ties that bound the
American colonies prior to the War for
Independence, and from the private
purse Of King Louis himself came the
1frsf lean to America--unsecured and
nconditional--to finance that historic
! undertaking. Il was with entire jus
lice that Warrington wrote to Rocham'
beau, 40 the generous aid Of your ma
tion ana to the bravery Of its sons Il
to be ascribed In . very great degree
that independents for which No have
fought"