Daily capital journal. (Salem, Oregon) 1903-1919, 1917-07-31

i
"The only peace wanted in this land
is a French peace-integral restitution
of Alsace-Lorraine, brutally torn from
France in 1871, reparation for damages
of war, guarantees for the future.
France will fight until she gets that
peace"
For the first time during the war
the French parliament, with the exeep-
tion of three or four recalcitrant Soc
ialist deputies, is today solidified unit
on all the war aims of the nation. Pre-
mier Alexander Ribot, facing the first
political storm of his regime when the
Chamber of Deputies reconvened after
the Easter holidays took the firm ac-
tion which consolidated the nation.
He modified the high military COM
mand placing the national hero, Gen
eral Petain in supreme charge of the
| French forces on the Western front.
Want French Peace.
"Aye all want peace" he said. "But
what we want and are going to have is
French peace"
frances parliament overwhelmingly
approved this sentiment.
Perhaps the absolute faith which the
French people-the rank and file-have
in the financial soundness of their ma
tion after three years of war is best
proof of France s financial stability.
The world has heard much of the
famous "bas de laine' the WOODEN
stocking bank of France. 1t is the lit
tie hoard of gold to be found always
in French homes. The strain ON it has
been heavy. But today this woolon
sock continues to pour from 100000 to
So 900 900 each week into the bank of
France. This yellow stream is exchang-
ed for the governments short term
bonds bearing from four to five per
cent of interest.
| Also the circulation of French bank
notes-like American paper money
has risen today from Il ,200,000,000 to
$4 900 100000 This represents the ma
ton s floating debt except its outstand-
ing short term bonds and enables
France to live and carry on the war
from one great loan to another The war
to date has taxed the finance of France
about eighteen billion dollars.
The seemingly bottomless "bas de
laine" made frances first war loan
successful, and at a time when military
events were far from promising. The
second duplicated the first. Then came
the famous "French loan of Victory
and its $3,00O,OO0,000 more from the
voolen sock. For the first time also
during this past year, French banks
have found that deposits have begun to
overbalanee Withdrawals Of private ae-
counts.
Frances Showing Financially.
France can allow her national debt
TO mount to twenty billion dollars and
then use less than one third of the
country's net. annual savings to carry
| it. Two years of war elapsed before
the government began to balance ac-
counts. Increased taxation, including
three cent; postage instead of two
doubled telephone and telegraph rates;
double tax on alcohol; increased prices
for tobacco, cigars and matches, all
government monopolies; higher income
tax and poll tax, bachelors paying more
| than married men; increased auto ana
gasoline licenses, etc, brings in to the
government $300,000,000 q year OF
enough alone to carry the interest on
one third of the present national DEBT
Economically, Frances condition is
excellent.
Past months of Germany S intensified
submarine blocade have produced few
visible effects on French economic life
Possibly with the exception Of Italy,
France is today the only warning nation
in Europe where food restrictions do
not emphasize themselves at every meat.
Two days each week--Monday and Tu-
esday--civilian France goes without
meat and twice weekly there is an ab-
sence of pastry. That portion OF the
population not depending on hotels ana
restaurants are put on their honor not
to eat the forbidden food on meatless
and cakeless days. The hotel or resta-
urant proprietor sees that his guests
obey the law but he doesn't let them
suffer. Tasty egg dishes, omelettes and
fish replace meat. Nobody misses tne
pastry. France goes on eating with tran-
uuil satisfaction. Bread ON all trench
tables is war-bread but it takes the most
critical observer to know it. Sugar IS
sold by cards but no one has yet com
planned of not having an ample supply
Butter is high but lew French homes
are without it. Vegetables flood the
markets at reasonable prices.
Coal Shortage Worst.
Probably the only serious economic
worry in France during the war has
been the coal shortage of the winter of
191G-l7. The great railroad transpor-
tation problem occasioned by the Bat.
tleof the Somme during the summer Of
1916 and the Autumn flooding of the
Siene left that country without its sup
ply of winter coal except for vital in
dustries. The French public has just
been told in the Chamber of Deputies
that the coal situation will be anchor
ated the coming winter. A specialist has
been appointed by the government to
handle this problem alone. One Of his
early acts is expected to be coal cards,
giving all an equal supply.
The strikes of the working girls dur
ing MAY in Paris and other French cities
acted as highest tributes tothe eeonom'
ic situation. The demands were hight,
demonstrations were of the tamest char
acted as highest tributes to the eeonom-
Government coercion to reestablish thier
Workers at wages which, even yet, can
not compare with the average wage OF
the giry worker in the United States.