The Penn's Grove record., 1919-02-14

activities of the German army which
we were not able to understand. We
can now see why they stole the ma
chinery from our factories, why thy
destroyed the coal mines of Lens, why
there was all the wantOn devastation
of French territory, even when they
were in retreat. 1t was thought to be
a par of their tactics of military
frightfulness. Instead, We can see
now that it was a part Of their delib-
crate commercial design.
"And in this phase of their war
making effort they have not been al
together unsuccessful. The industrial
life of France has been sc wrecked
that its resuscitation is most difficult,
while by reason of her military surren-
der Germany has been able to save her
factories, intact and ready for immed-
late efficient operation. Industrlally
and commercially, as between France
and Prussia, for the present the vic
tory is with the Hun
Blockade in, New Light
"And financially, by reason of the
blockade (the value of which as a mil
itary factor no one VIII question: the
German war debt is almost wholly a
debt to her own people, easily repudl-
ated, while the debt of France is n
which must be paid. Here again the
war has proved something like a pyr-
rhic victory for France.
"The French fortune invested abroad
before the war was large. Some so
- en- hi11innC (fronrok of ENranoh cfnrk
What has become of that fortune?
The best we can hope for is that pay
ments on about two-thirds of it may
be considered as simply deferred; that
the immense sum accumulated by
French thrift and loaned abroad will
be collectable eventually.
France has something like 20 bill
lion francs invested in Russia, two
thirds of that sum in Russian govern
ment securities and the remainder in
industrial enterprises. The French
people had other Billions in Balkan and
Turkish obligations. Then, just before
the war, the disorders in Mexico de-
prived us of any revenues from about
two and a half billions of francs in
vested there, and we are having the
same experience with several other bill
lions in South America, mainly the
immense investments in railways.
even as to the military triumphs
over Germany there is a situation not
altogether without disquieting features
for France. It is quite true that the
Allies have taken the German navy
and in large measure have disarmed
the enemy. But there remains a cha
otto yet fruitful Russia from which
great help may be drawn by the
TeutonS.
Military Menace Real
with the British army demoblized,
the American army back home and
France isolated there might be a dan
ger of a reOpening of the military de-
bate by Germany which might embar-
rass us were it not for the assurance
which President Wilson gave us in the
Chamber of Deputies the other day
that under the operation of the league
of nations, whenever France or any
other free people is threatened the
whole world will be ready to vindicatt
its liberty, so that there shall never
be any doubt or waiting or surmise.
" course a society of nations II
which America and France enter mus
be supported profoundly by the convic
ton of their peoples and by a deter
minatiOn of each nation entering int
the agreement to be willing to re
nounce their traditional aloofness from
other peoples and willing to emplo!
the national strength outside their owl
country both in time of peace as wei
as under the pressure of war.
"All of u plans are based upol
the splendid platform laid down b!
President Wilson. In perfect harmo
ny with the principles which he ha
enunciated we are striving for highe
and holler idealism in the conduct o
the affairs of the world. Divested o
all mercenary aspirations we joil
heartily and unreservedly in the effor
to make a better world and one O
simple justice to all mankind.