El Paso herald. (El Paso, Tex.) 1901-1931, 1919-07-12

. OF Paris without actually having to
fly over the city
Little IS heard at any time about
the port OF Paris-feW people even
know that Paris is classified as an
inland pert Yet this Is a most i'm
porta1t factor n the city's develop
ment- We are spending millions on
deepening the Seine and digEing
switch canals fro mthe Marne, in order
both to increase the water traffic OF
the city and to render impossible a
recurrence OF the disastrous floods OF
1910
The building OF the channel tun-
mel and the development OF aviation
are bound to increase the Importance
OF Paris as great continental bust
ness center At the same time, we
are likely TO be overwhelmed with
tourists using the city as a center for
our hotel accommodation are made
Quate to supply the demand OF visit
ors. despite the existing restrictions
on travel to Paris Happily this situa-
ton VIII improve IN a few months
Already the government is beginning
10 surrender hotels reqUSlt1oned FOR
war purposes, and when the peace
parleys are concluded. a number OF
our biggest hotels viii be vacated by
the peace delegations and become in
mediatsiy available for visitors"
City Is Solvent.
II. Chassaig -G0Tou declared that
Paris had emerged very ereditacly
from the financial strain OF the war.
The total debt OF Paris today he
said. lis $500, 000. coo. Our wealth as
a city amounts 10 $4,000, 9Qo. coo. Il
follows that, despite the heavy bur
dens OF the war, our finances are ab-
solutely sound. and our credit stands
very high for We have always net
our obligations without delay. even n
the early days OF the war, when some
OF the big banks were deferring pay
ment on coupons falling due In the
aucur11 OF 1919.
our financial loss due directly 10
the war totaled s30G-0o0. Gee This
sum represents loss Of taxation reve-
nue. due 10 the mobilization and the
emptying OF the city during the ar
raids ana Bertha 0mbardments OF
1915 TO pensions and allowances paid
to dependents OF municipal WORKERS,
and 10 the cost OF food and shelter
supplied By the city not only to the
poor OF Paris but also 10 the many
thousands OF destitute refugees who
poured into the capital at different
stages Of the var
win Issue bonds.
The budgetary deficit OF $500, 0Ql,-
900 was met from time to time BY IS
sues OF short term bonds and viii
now be covered early in June by
consolidation. loan for that amount
This loan VIII take the form OF per-
cent City OF Paris premium bonds.
issued eLC1LSlEt-I II E-aLlcs o. 404
francs denomination and sold at $50
francs The net yield. after deductic,l
OF taxation. VIII DO $50 percent and
there is no doubt At all that the loan
viii be subscribed three times over
1T is q little known fact that the
budget Of the city OF Paris eG1aIs that
OF many q minor European state, ex-
pendfture for ornaments being LETT
out OF the reckoning Yet OF our pop
uiation OF seed. 900 not $4,000 are
actually direct taxpayers to the nu-
nicipality. owing to the incidence Of
our local charges
We obtain a large proportion OF
our revenue from or -octrol, or
customs. duties levied on all kinds Of
commodities entering the city There
has long been n movement for the
suppression OF these charges. which
send up the cost Of living il Paris
but It IS difficult TO see how we car
afford to sacrifice this important
source OF revenue IN times like the
present We would be only too glad
70 do II. but the trouble is that French
people have never been accustomed 10
heavy direct taxation such as exists
in the United States and Great Britain.
The people have never been educated
up to IT. and that is why we cannot
suddenly enforce some very efficient
revenue getters-