Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1917-10-24

j ite Increasing activity q her rail-
way system is similarly dem0nSlrHt-
ebie. In 1869, there were Ill France
1879 miles OF railway track i n 1912,
there were 3l,546 miles.
Between 1869 and 1912, inland nayi-
CATION increased $50 per cent While
the traffic Of her mercantile .1axue
has amazingly expanded. The Tonnage
entering French ports in 1850 is set
down as 100000 tons. In 1912
this had been increased to SO, GO0,O coo
tons.
Leaders in American finance ascribe
this solidarity Of the French republic
to three Influences; first, a thoroughly
sound banking system, centralized II
One OF the greatest banking institutions
of the world, the Bank of France; sec
ond. the ingrained thrift and frugaIity
Of the French people as a whole, to-
Gofner with a national economic visor
not elsewhere surpassed; third, wise
supervision, and patriotic cooperation
by the government with banking ana
business interests.
The government does it's part to war
rant and retain the confidence Of the
holders Of its securities. One Of is
wise policies is to impose new taxes 70
dcfray the interest charges on new Sc
curity issues. 1t began this practice
after the FrancO-Prussian war, and is
+pE,- folln--i1cr 46n corlN y,1o ir ro,O-j
to securities issued to finance the pres
ent conflict. This continuity of pur-
pose. doubtless, viii prove reaSsuring
to al holders of French government
securities.
The Franco-PrUssian war of 1870
1871 taught the French people the
meaning OF thrift and economy. So
we'll dd they learn this lesson, that
the Whole sum of the indemnity de
manded by Germany. $1,000 ,O)0000.
was raised within the republics on
fines By its own inhabitants and pHld
off Oh than n wear before the time
stipulated by the Germans.
The habit thus acquired hos never
been forgotten by the French, and to-
dag the aggregate number Of investors
purchasing the French war loans has
reached the amazing total Of 100000
individual subscribers. Perhaps no 9th
er country, in proportion to its II pula-
ton, can make so good q showing.
France is particularly fortunate in
that her small investors prefer safe"
in,-Ar4Y, Ny,Sr ,.n4la, +Ja, .E' ..f--,
which promise biSh returns. Goye"D-
1@ent rCntes, in France are perDatu-
al ara mis- characteristic seem TO OBJ
tain 10r these government bonds in
crossing favor in the eyes of the
French people.
The points of sympathy between
France and America are too many 90
enUmer"te, bpt the spirit Of !;Jeriy and
its resultant democracy are, today as
always, the m3jo" ideals Of both ma
tiors. Seeking 10 victories bat those
of peace. no territory except their own,
IL Sovereignty except sovereignty over
themselves - the Independence and
equal RIGHTS Of the weakest mtlnIpr #
the family q nations arr TO ,lr people
Of tho United States GnG Of Fr%nCe en-
titled to as much respect as rose of
the m;"htiest empire. In defense Of
these principles, France is ENGAGED III
a G2ath struggle with militant 4utcc-
lacy and ruthless aggression, and it is
nct Surprising to learn tnat We las
loaned 70 her allies and 10 other friendly
states 1000. 100000 francs vita when
to further the cause of Gem0t.acy. it
is ii keeping with Americas traditioDe
thar since the date on which we Ior-
molly aligned ourselves With France
our government has lent to France
$$221a0,O0c,C00.
Il is aloinentlv fitting that America
shoHtd now be fighting on F'ron1u soil
to make Tie world safe for democracy.
The liberty that America hrs enjoyed
for 40 years France helped her to
achieve. The swords of L~afavette and
Rochamhcau, aided By the guns of DE
GraSse upon the high seas, assisted IN
cutting the foreign ties that h0UDI the
American Colonies prior to the War fCr
Independence, and from the private
purse Of King Louis himself came tho
frst -oan to Observation-Disclosures and
unconditional-to finance thai historic
undertaking. 1t was with entire JUS
tice that Washington wrote to ROcnau-
beau, To the generous aid Of y0rt ma
ton and to the bravery Of it's sons is
to be a@@fibed in a very great degree
that independence for which we have
fought"