Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-13
GOSSIP OF THE STREET
RECONSTK UCTTON IN FRANCE
AS TT PRACTICALLY EXISTS
True TO the Characteristic Thrift OF Nation, Rapid Progress
Has Been Made in Restoration
DROWN BROS. 4 co. have don

DROWN BROS. 4 co. have done a
- valuable service in publishing in
exceedingly readable form n review OF
the progress of reconstruction in France
since the war, and incidentally pune
turing some popular opinions on the
subject.
For some time past we have been told
by financiers who presumed to know
because they visited France since the
signing Of the armistice that France
was in bad way; that the French
people were lying down and asking the
United States and other countries to
pull them out Of their difficulties; that
reconstruction work was proceeding
slowly. while in the large cities in par
ticular the French people were spend
ing money and enjoying themselves to
the limit, and that France was not
making an effort to wipe out her war
debts by the only effective methods,
taxation and saving.
| This handsomely illustrated instruc-
tive pamphlet lifts the curtain in word
and picture on the real France of today
and since the war.
| In the matter Of reconstruction. OF
course. first attention was naturally
given to transportation facilities. Sta .
tstics quoted show that on the date of
the signing of the armistice there were
o45 miles of double and 463 miles of
single track destroyed On September
|, 1910, 30 per cent Of tho double and
% per cent of the single track had been
restored, and in addition ia miles out
of 143 serving the mines have been re-
built. Fifty per cent ot the over 1000
bridges and tunnels destroyed have becr
replaced. Out of $50. 1000 houses de-
stroyed about onc-third have been re-
placed and Of 1885 factories destroyed
1927 were on productive basis or
September |, 1910.
The money expenditure in connection
with this work has been stupcndous
In the invaded area of France 69j(
square miles of cultivablc land wer,
devastated. On September !, 1919
1910 miles had been reclaimed.
As for taxation. according to thi
pamphlet France has made great cffort
to meet these expenditures by taxa
! tion, the taxation estimates per capiti
for 1919 being S52. Ms compared will
$40 for the United States. 1t is pos
sibc that the impression that Franc
il not raising money by taxation arise
from the fact that no taxes were i'm
posed this year on the inhabitants o
the devastated districts.
France is raising enormous sums D.
taxation. The national characteristi
of thrift still remains as strongly a
ever, as shown by savings bank de
posits. both in number Of depositor
and gross amount.
It will be surprise to many +
know that the increase OF the Frenc
national debt during the war was les
in proportion than that of the Unite
States or any of the larger nations en-
gagged in the war. with the exccptio
of Italy. This debt will be Offset i
, the next few years through the posses
: sion of Alsacc- Lorraine and the pos
session Of the mines in the Saar Val
ley. besides the payment of the Germa
indemnity.
: Any one who harborS doubt as
{ the future of France and her nbilit
to meet all her obligations many time
over if given little time should rea
this pamphlet.
/ Liquidation OF High Grade Securities
There was diversity of opinion {
to the reasons for the liquidation O
Thursday last of high grade railroa
bonds and stocks. There were tho.
who claimed the condition was brougl
about by a desire to record losses, bl
those who seemed to know claimed thu