Gunnison news-champion., 1918-02-08
SOLDIERS IN rMs veaouM REPAIRING RUINED CANAL

1ne incfeaang activity or her ran.
way system u similarly demonstrate
able. In 1883. there were In France
1918 miles Of railway track In 1919.
there were S1,548 milea
Between 1859 and 1912. inland navi-
cation Increased $50 per cent: while
the traffic Of her mercantile marine
has amazingly expanded. The tonnage
entering French ports In 1850 Ii set
down as 100000 tons. In 1912
this had been Increased to 63.O0O.OOO
tons.
Leaders in American finance ascribe
this solidarity Of the French republic
to three influences; first, a thoroughly
sound banking system. centralized in
one Of the greatest banking institutions
of the world. the Bank of France: Sec
ond. the ingrained thrift and frugalIry
of the French people as whole. to-
gether with n 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 its
wise policies is to impose new taxes to
defray the interest charges on new se-(
curity issues. 1t began this practice
after the Franco-Prussinn war. and IL
today following the same rule In regard
to securities issued to finance the pres
ent conflict. This continuity of pur-
pose. doubtless. will prove reassuring
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-
mnnded by Germany. $1.O00.OO0O0O.
was raised within the republics con-
fines by It's own Inhabitants and pnid
on 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 4,5O0.OOO
Individual subscribers. Perhaps no 9TH
or country. In proportion to Its popula-
fiOn, 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.
nfent rentes. In France are perpetu-
nj. 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 A.
always, the major ideals Of both ma
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 ~ much respect ~ those Of
the mightiest empire. In defense Of
these principles. France IL engaged In
q death struggle WITH militant autoc-
racy and ruthless aggression, and Il H.
not surprising to learn that she has
loaned to her allies and to other friendly
states 1000. .O00. 900 francs with which
to further the cause Of democracy. Il
IL 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
$4,000. 900.
II IL eminently fitting that America
should now be fighting on French sod
to make the world safe for democracy.
The liberty that America has enjoyed
for 14O 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
nc0nditinnai--t0 finance that historic
undertaking. 1t was with entire Jus
tice that Washington wrote to Rocham-
beau, "To the generous aid Of your nm
ton and to the bravery Of its sons is
! to be ascribed In . very great degree
that independents for which we have
foasht."