The Meridian times. (Meridian, Idaho) 1909-1938, 1917-11-02

i The increasing activity or hef rail-
way system Is similarly demonstrat.
able. In 1863, there We're in France
1918 miles Of railway track in 1912,
there were 31,546 miles.
Between 1869 and 1912, inland nayi-
! cation increased 100 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 aseribe
| 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 a whole, to-
gether with national economic yigor
! not elsewhere surpassed; third, wise
supervision, and patriotic cooperation
| by the government with banking and
business interests.
The government does It's 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. 1t 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 reassurlng
10 all holders Of French government
securities.
The Franco-Prusslan 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, S1,000,0000 900,
was raised within the republics con-
fines by its own inhabitants and paid
Off 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 100000
individual subscribers, Perhaps no 9TH
Or country, In proportion to its popula.
ton, can make so good a showing.
France Is particularly fortunate IN
that her small investors prefer safe"
investments rather than offerings
which promise high returns. Govern
meut rentes, In France are perpetu-
al and this characteristic seems to OBJ
| tain for these government bonds in.
creasing favor I'm the eyes of the
French people,
, The points Of sympathy between
! France and America are too many to
enumerate, but the spirit of liberty and
its resultant democracy are. today as
always the major ideals OF both ma
tions. 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 10 as much respect as those OF
the mightlest empire. In defense OF
these principles, France is engaged in
n death struggle with militant autoc-
Tacy and ruthless aggression, and II is
, not surprising TO learn thar she has
loaned 10 her allies and to other friendly
states 7,0000o0,0o0 francs with which
to further the cause of democracy. II
Is 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
$ST0, O00,O0O
u II Is eminently fitting that America
should now be fighting on French soil
to make the world safe for democracy
The liberty that America has enjoyed
for lao years France helped her to
achieve. The swords OF Lafayette and
/, Rochnmbeau, aided by 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
: first loan to America--unsecure and
uncondltional--tO finance chat historic
undertaking. II was with entire jus
tiee that Washington wrote 60 Rocham,
beau. ITO the generous aid of your ma.
: ton and TO the bravery Of its sons is
: 10 be aserlbed In a very great degree
that independence for which we have
fought"