The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-20
The New 6W French Loan

The Consul General for France In New
York has been instructed to inform the pub
lie that the subscriptions to the new French
National Loan of 1920 viii be officially
opened on the Goth OF October and will close
at the end of November prox.
The said loan, which ~ not redeemapfe
until 1881, will bear an annual interest OF
So. The bonds Will be Issued at par, viz.
100 francs. The subscriptions In the United
States must be paid In full in dollars, at
the official rate OF exchange on the day OF
the subscriptions.
Subscriptions VIII also be accepted IN
French bonds of 1915. 1910 and 1920. up TO
one-half only of the anSunt subscribed to-
The semi-Annuai coupons payable on the
10th OF June and 10th OF December OF each
year will be, well as the capital itself,
exempted from all French taxes. present
and future.
At the present rate Of exchange, sub
scription OF 1000 francs TO this loan repro
sents only about $40. an amount which will
be tripled In value when the French eS-
change will have come back 10 its normal
rate.
As this loan is in part intended TO thu
redemption of an important part of the note
currency OF the Bank Of France. the natural
consequence will be that In the near future
the value of the franc will greatly increase,
and. without any exaggerated optimism, one
may say that the investor OF dollars In 1920
Will. In 1921, receive Interest OF TO go
OF his capital.
As the value OF the franc will get nearer
its normal rate, the interest will be II TO
1875. and I7% when the franc reaches It's
par-vaiue.
This loan Is not only a particularly ad-
vantageous one; It Is also one OF the most
secure that might imagine. 1t Is
known fact that. Immediately after HOSTILE
ties had ceased, France resumed her work
with a wonderful courage which surprised
even the most optimistic. Owing TO the IN
telligence. Woodworking habits and thrift
OF her Inhabitants, she will soon be more
prosperous than ever.
with an unparalleled energy she has al
ready reconstructed most OF her railways.
| OF her tunnels and Of her canals OF the
| Northern regions. Her coal fields OF Lens.
| so rufhlcssly and systematically destroyed
| by the Germans. without any military ne
cessity. being restored and daily
| increasing their yield; her areas OF dew
astated lands are again under cultivation
and are continuously being extended by
means of modern methods.
Not satisfied with reconstructing, Franco
Is at the same time creating riches:
rhe II utilizing her waterfalls OF the Alps.
the Pyrenees. the vosges. TO produce energy
which WIN replace her present coal short
nge She has developed her metallic mines.
namely her iron ores from Lorraine which
complete her natural resources OF the basin
% Briey, 20 that she Is now one OF tho
richest producers OF iron. France Is also
increasing her agricultural production by
means OF tho enormous quantities of potash
which she gets from Alsace, the deposits
Of which are once more part OF her eco
nornic domain
The vastly extended and varied colonial
possessions Of France Northern West
Africa 1ndo-c1hina, Madagascar. etc.) ars
being used and exploited more and more
scientifically and supply her industry with
raw materials In unlimited quantities. thus
completing her agricultural productions and
making her progressively more and more In
donendefit OF foreign countries.
This short sketch VIII clearly show tho
rubscribcrs of the presen, loan that they
cannot have a better debtor than thrifty
and energetic France, full Of riches and
great possibilities. the same France who In
the courro OF the war displayed such powers
OF resistance. undaunted courage. tenacity
and patriotism.
The subscriptions WIN be received without
any charges Whatsoever from October 20 to
November 20 at tho offices OF the French
Consulate General. o East 10th Street. New
York City. II 80 desired. subscriptions may
be mailed. Rernittancos ahouid be made 70
che order of the French consIlate General.