New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1917-07-28
FRENCH PURSE NOT DRAINED
BY DEMANDS OF GREAT WAR
People Investing at Rate of 100OO 900 Francs Month";
Says Partisan Economic Expert u. s. Re-
All Doubt of Victory.

Paris July 2s.-French finances
have been unshaken by the war in the
opinion expressed to The Associated
Press by Charles Glide of the Univer-
city Of Paris, an eminent authority
on economic questions. discussing the
outlook at the beginning of the fourth
year Of the conflict.
France" said M. eide, has spent
about 10000, 100000 francs on three
years Of military effort. Yet in the
thirty sixth month Of hostilities, the
French people are investing in short
term treasury bonds as freely as they
were two years ago. that u.s. at the
rate of about 1000, 900 a month
AS evidence of the excellence of
French francs. M. Glide pointed to the
cooperation of the United States
which, he said, brings formidable aid
to Franco and her allies. This he
continued. mot only removes all doubt
concerning the result of the war from
a military standpoint but relieves the
financial situation by diminishing the
drain upon French gold.
The money which France has spent
to sustain her military effort inside the
countr swells the figures of her out.
lay to immense proportions, but this
outlay cannot be considered dead
loss except in such proportion as is
spent for steel, explosives. and other
material made to be destroyed In
creased prices paid for every COM
modify. it must be remembered Also
has vastly increased the revenues If
the French people. Before the war
these revenues were 100000, 1000 to
35, 100000 francs. Now they are
$4,000, 100000 francs annually. These
figures show that, formidable as the
war debt may appear at first sight. the
problem OF its liquidation is not so
alarming after all.
France can stand another year of
war outlay quite as well as she stood
the third year. It would be embar-
RAISING for her to pay in gold for
everything bought abroad. but this
difficulty has been relieved by the
credit generously granted by the
United States.
"Frence will get through the war
financially sound. will reconstruct her
industries rapidly and her interior
situation will be liquidated without
causing any economic upheaval."
Referring to the situation of other
belligerents. M. Glide said:
IT do not think any country will be !
ruined by the war. All are more or I
less in the same situation as France. |
The only real drain upon their re-
sources is what they pay abroad The !
best expenditure is that which might
be called fictions; that is. the transfer I
OF money from the pockets of some |
citizens to the pockets of others, /
transfer in which a great many new |
fortunes have been built up but in !
which the real riches Of the country !
have been left untouched."/
Referring to the economic measures
to be taken after the war and to the
com plants by Germany of an effort |
by her enemies to ruin her economi-
cally M. Glide said:
THE talk Of an economic war after ,
the belligerents lay down their arms
has almost subsidized I consider 1t
neither possible nor useful for Ger
many to be crushed commercially.
She will be vanquished on the battle
field. her military power will be
crushed. but she will be left free to
work ont her own economic destiny.