The Little River news., 1917-10-20

The increasing activity O. her rail- way system Is similarly demonstrat able. In 1869, there were in Franca 1O,743 miles of railway track; In 1912, there were 31 ,546 miles. 4 Between 1869 and 1912, inland navi- gatlon increased 15O 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 53,0O0,OOO tons.
 Leaders in American finance ascribe this solidarity of the French republic to three influences; tlrst- thoroughly sound banking system centralized In one of the greatest banking institutions of the world, the Bank of France; sec- ere1~ the Tngrnined thrift and frugaliry of the French people a9 q whole, to- setgrer with national economic yigOr not elsewher., surpassed; third, wise supervision, and patriotic cooperation by the government with banking and business interests.
 The government does its part to war- rNnt anI retain the confidence of the holders of its securities. One of itsi wise policies Is to impose new taxes to defray the interest charges on new se- crrfty issues. It began this practice after tho l'rnnco-PfnsSiAn war, and is today following the same rule in regard to securities issued to finance the pres rnt conflict, This continuity of pVr. pose, doubtless, will prove renssui!rg to nll holders of French government securities.
 The Frnnco-prussian war of 1S70- 1871 taught the French people the mennlng of thrift and economy. So | well did they learn this lesson. that | the whole sua of the indemnity de manded by Germany, S1.000,00O,O ,OOO, was raised within the republics con- i fines by it's own inhabitants and paid off more than one year before the time stipulated by the Germans.
 The habit thus acquired has newer been forgotten by the French, and ts,- day the aggregate number of Investors purchasing the French war loans has reached the amazing total of 4,300,0O0 individual subscribers. Perhaps no oth- CT country. in proportion to Its popuEa- ton, can make so good showing.
 France Is particularly fortunate in that her small investors prefer "sHfe" investments rather than offerings which promise high returns. Govern ment rentes, in France are perpetu- al, and this chara cterlstic seems to- eb- tain for these government bonds fn- creasing favor in the eyes of the French people.
 The points of sympathy between France and Amert:a are too many to enumcrate, but the spirit of liberty and It's resultant democracy are, today as always, the major ideals of both na- 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 to as much respect us those Of the mightlest empire. In defense of these principles, France Is engaged in death struggle with militant autOc- racy and ruthless aggression. and 1t Is not surprising to learn that she has loaned to her allies and to other friendly states 7,O00,C0O,OO0 francs with which to further the cause of democracy. It is In keeping with Americas traditions thot Sjnco tho d0to on which we for mally aligned ourselves with France md her allies In the great struggle, our government has lent to France $370,OO0O00.
 It Is emlnentfy fitting that America should TOW 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 Roehambeau. aided by the guns of De GrnSse 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 Amerlca-unsecured and unconditional--to finance that historic undertaking. It was with entire jus
 tice that Washington wrote to Rocham- ! beau, ''To the generous aid of your na' tlon and to the bravery of its sons Is to be ascribed In a very great degree l that independence for which we have
 fought"
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