The evening leader. (Tarpon Springs, Fla.) 191?-19??, 1917-10-08
finance ascribe
French republic
FIRST, a thoroughly

tut6r6SlS.
bvernment does its part to war
and retain the confidence of the
ders Of its securities. One Of Its
s1se policies Is to impose new taxes to
'defray the interest charges on new Sc
curity issues. 1t 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 purs
pose, doubtless, will prove reHssuring
to all holders Of French government
securities.
The Franco-Prussian war of 1870
1871 taught the French people the
meaning of thrift and economy. So
well did they learn this lesson, that
the whole sum of the indemnity de-
manded by Germany, S1,0O0y000,000,
was raised within the republics con-
fines by its own inhabitants and paid
off more than one year before the time
stipulated by the Germans.
The 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 100000
individual subscribers. Perhaps no 9TH
er country, in proportion to its 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
ment rentes, in France are perpetu-
al, and this characteristic seems to OBJ
tain for these government bonds in
creasing favor in the eyes of the
French people.
The points Of sympathy between
France and America are too many to
enumerate, but the spirit of liberty and
its resultant democracy are, today as
always, the major ideals Of both ma
lions. 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 as those OF
the mightiest empire. In defense Of
these principles, France is engaged In
a 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 7.000,000,000 francs with which
to further the cause of democracy. It
is in keeping with Americas traditions
that since the date on which we for
mally aligned ourselves with France
and her allies in the great struggle,
our government has lent to France
S370,00O,000.
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 40 years France helped her to
achieve. The swords of Lafayette and
Rochambeau, 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
independence, and from the private
purse Of King Louis himself came the
first loan to America-unsecured and
unconditional--to finance that historic
undertaking. 1t was with entire JUS
tice that Washington wrote to Rocham-
beau, ITO the generous aid Of your ma
ton and to the bravery Of its sons is
to be ascribed in very great degree
that independence for which we have
fought"