The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919, 1917-10-11

way system is similarly demonstrate.
able In 1859, there were In France
1913 miles Of railway track in 1912,
there We're 31,546 miles.
Between 1869 and 1912, inland M nj.
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
toMs.
Leaders In American finance ascribe
this solidarity of the French republic
to three influences: first, thoroughly
SQUAD banking system, centralized in
on of the greatest banking institutions
OF the world the Bank of France; sec.
on' the ingrained thrift and frugaliry
OF The French people as q whole, to-
gethcr 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 it's
wi" policies is to impose new taxes to
drfray the interest charges on new Sc.
cnrity 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.
l"s". doubtless. will prove rpnssurlng
tn all hultlers Of French government
securities.
The Franco-Prussian war Of 1870.
1871 taught the French people the
meaning Of thrift and economy. So
we'll did they learn this lesson. that
the whole sum of the indemnity de.
manded by Germany. 100000, 600.
was raised within the republics con.
fines by it's own inhabitants and poid
Oft more than one year before the time
stipulated by the Germans.
Tho 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 4,5OO, 600
Individual subscribers. Perhaps no 9TH
er country. in proportion to it's popula.
ton. can make so good showing.
France is particularly fortunate In
that her small Investors prefer "safe"
investments rather than offerings
which promise high returns. Govern
mcnt rentCs, In France are perpetu.
al. and this characteristic seems to OBJ
tain for these government bonds in
rr"hSing favor in the eyes of the
French people.
The points of sympathy between
France and America are too many to
rnu,nrrai" but the spirit of liberty and
its resultant democracy are, to-day as
always. the major ideals of both ma
TONS. Seeking no victories but those
of peace" no territory except their own,
80 Sovereignty except sovereignty over
themselves the independence and
equal rights of the weakest member OF
the family Of nati"nS are to the people
"f the United States and of France en-
titled 4" as much respect as those of
the mighticSt empire. In defense of
these principles, France is engaged in
II death struggle with militant autOc-
rncy and ruthless aggression, and 1t is
not surprising to learn that she has
loaned to her allies and to other friendly
states 7,O0O,OtO,OOO francs with which
to further the cause of democracy. It
IL in keeping with Americas traditions
that since the date on which we for
mnlly aligned ourselves with France
and her allies in the great struggle,
our government has lent to France
7O.O0O.OOO.
1t 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 140 years France helped her to
achieve. The swords of Lafayette and
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
and from the private
purse Of King Louis himself came the
first loan to Alnerica-unsecured and
ncOnditiOnal--tO finance that historic
II was with entire JUS.
tice that Washington wrote to RochaIn-
beau, ITO the generous aid Of your ma
ton and to the bravery Of It's sons is
to be ascribed in very great degree
that independence for which We have
fought"