The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1919-12-29
BETTER DAYS FOR FRANCE
IAssociated PressI

tASSOcldleQ RreSSl
Paris. Dec, 29.-France will begin
the new year with far greater conf
dence than the last. This is in spite
lof formidable handicaps such as the
balance of trade running against her
ar the rate of about 100000 francs
a month. about so per cent deprecia-
tion of the exchange value of the
franc and the consequent difficulty of
procuring raw materials and ma
chimes, urgently needed for recon-
struction.
Frances renewed confidence is de-
rived directly from the result of the
recent elections. These are regarded
here as having definitely stabilized in
ternal politics, ended all danger of
revolutionary agitation for some time
to come and brought about better
attitude by capital and labor toward
the immense effort before France.
Money is forthcoming for invest
ments in anything that promises sta
bility. While investments in short
term treasury bonds are continuing at
the race of nearly 100000. of
francs a month, there is plenty Of
money for industrial and commercial
enterprises and long-term loans. The
4 ,000, 900, ,000-franc loan to provide
immediate resources for indemnifying
victims of the invasion was oversub-
scrihed before the official opening of
the subscriptions Important banks
and industrial companies have lately
increased their capital to an aggre-
gate of nearly 10000, ,0OO, 900 francs.
Transactions on the Paris bourse
which still are confined to cash deals
have exceeded on certain days records
of pre-war trading when futures en-
tered largely into the totals. The up
ward movement of all industrials be-
gan before the signatufe of the treaty
ut Versailles has been unchecked by
successive foundations. This is re-
garded by keen observers here as a
sure sign of economic recovery.
Employers say the labor situation is
Improved and that the last strikes de-
veloped symptoms that the workers
themselves were becoming weary OF
long continued disturbances Of busi-
ness, industry and transportation
They see tendency against frivolous
strikes and an indication that only
real grievances will induce the wage
learners to quit work hereafter.
1 Decentralization of capital and in
dustry is seen in the establishing In
Normandy of textile industries to re.
place those IN the occupied territory
destroyed by the war. This movement
/ has been greatly extended by develop
metn of waterpower in the region ot
the Alps and the center and south OF
France. Industrial leaders say that
no particular region of France here
after will monopolize any industry and
declare that this scattering viii prove
beneficial and result in more equabls
recovery of all parts of the country.
Powerful financial groups are al
the head of a movement to transfer
important industries from the coal re
/ gion to southeastern France wher.
waterpower soon will be available
Other groups are being formed to de
.velop manufacturing centers near tn,
coast so as to reduce the cost o.
transporting raw materials. Indus
trial leaders say that this activity OF
the part of capital, supported by th'
recovery of labor from what has beeI
characterized as wave of ~laziness,
Igives healthy tone to the sitaution
Instability of the exchange value O
the franc is regarded as one Of tn
weakest points in French conditions
1T is pointed out that France canno
pay twice over at present high price
i for supplies she needs and that is wha
the present low value Of the fran
means. The French government i
now studying complete renovation o
, her financial policy with a view Z
making such provisions to meet he
obligations as will give greatest sta
Ibility at home and abroad.
\ Details of the new financial polio,
are as yet not disclosed but it is un
derstood that it comprises. firstly.
large interior loan to take MP al
short-term bonds and floating debt
!, land secondly, important increases i
all taxes TO bring the revenues up Z
} the annual budget estimated to re
: quire from 10000. .O0O, 900 to 25y0O0
l000, 900 francs. IL is not expected the