El Paso herald. (El Paso, Tex.) 1901-1931, 1919-12-27

.DAR1S. France. Dec. 21--Erance viii
/ begin the new year with Tar
greater confidence than the last
This is In spite OF formidable handi-
caps such as the balance Of trade
running against her at the rate OF
about 1.500. 100000 francs a month.
about so Per cent depreciation Of the
exchange value OF the franc and the
consequent difficulty OF procuring
raw materials ana machines. urgent
ly needed for reconstruction
Frances renewed confidence Is de-
rived direEtlV from the result OF the
recent elections These are reEardee
here as having definitely sla1lLized
internal politics, ended an danger
OF revolutionary agitation for some
time 20 come and brought about a
better attitude by capital and labor
toward the immense effort before
Money Forthcoming
Money Is forthcoming for invest
meuts in anything that promises
stability While Investments In short
term treasury bonds are continuing
at the rate OF nearly 100000 francs
a month. there IS plenty OF money
for Industrial and commercial enter
prises and long term loans The
100000 frame loan TO provide linz
mediate resources for iudemnifying
victims OF the invasion was over
subscribed before the official open
ing OF the subscript Important
banks and industrial companies have
lately increased their capital 60 an
aggregate Of nearly 500, 100000. 600
francs.
transactions on the Paris
bourse which still ARE confined
TO cash deals have exceeded on
certuin days records Of pre- war
trudinEs when futures entered
largely into the totals The up
ward movement Of all indus
trials which began before the
signature Of the treaty n YER
saillea has been unchecked by
successive nguldnticna- This A.
regarded By keen observers here
a. sure HiEn Of economic re-
eoFerTs
Employers say the labor situation
is IN ro'-ed and that the last strikes
developed symptoms that the work
cr8 themselves were becoming wearv
or louE cQutiuued disturbances Of
business. Industry and rra1sporta-
tion- They see q tendency against
frivolous strikes and an indication
that only real grievances viii in
duce The wage earners 20 cult work
No ReEIonnI Monopoly
Decentraliza rion OF capital and In
dustrT iz seen in the es-ablishiuE
ln Normandy Of textile industries TO
replace those In the occupied terri
movement has been greatly extended
py eFe-Qpmenr or water power IN
tne region OF the Alps and the center
and south OF France Industrial
leaders say that no particular. region
or france hereafter VIII monopollze
any industry and declare that this
scattering VIII prove beneficial and
result iu more equitable recovery
Of all parts Of the country.
EQH erGul financial Eruuus are az
= q = fer
i'm p0r-anr indus ries from the coal
region 20 southeastern France where
water power soon Wil be available
Other groups are being formed
10 develop mnnufncfurinE cen
ters near the coast 30 "a to re-
duce the cost Of fransportinE
nav materials Industrial Lead
crs say that this uctlrity on the
part Of capital supported By the
recovery OF labor from what has
been characterized rs wave or
-inzinerss7 gives n healthy tone
10 che Eltultion-
Instability Of the exchange value
ul the franc IS regarded as one OF
q be weakest points in French con-
litiuus. Dc is pointed out that France
mot pay twice over az present
high prices for supplies she needs
and that is what The present low
value or the france means The
rcncn government IS now studying
l complete renovation OF her flnau-
-ial policy with a view 10 making
such provisions 70 meet her obliEa- I
ions as win give greatest stability
both az home and abroad
Propose Interior Loan
Details Of the new financial policy
are as yet not disclosed. cut 10 Is
understood that 90 comprises. firstly.
q large interior loan 10 take I'D am
short term bonds and floating debt.
md secondly. important increases IN
ill taxes 10 bring the revenues up 10