The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1920-01-24
Begins 1920 With Greater Conf.
denCe Than 1t Did
the Last.
DUE TO DEFEAT OF RADICALS
Elections Stabilize Internal Condi.
tIons' Though Fall Of Franc Is Still
Serious ProbIem-study
Financial Policy.

REINSURANCE began the new year
with far greater confidence than the
last. This is in spite of formidable
nandicaps, such as the balance of
trade running against her at the rate
OF about 1,5O0,O00,000 francs a month,
ABOUT 90 per cent depreciation of the
exchange value of the franc and the
consequent difficulty of procuring raw
materials and machines urgently
needed for reconstruction.
frances renewed confidence is de-
rived directly from the result of the
recent elections. These are regarded
mere as having definitely stabilized in
ternai politics, ended all danger of
revolutionary agitation for some time
10 come and brought about a better at
utude by capital and labor toward the
immense effort before France.
Money is Forthcoming for invest
mentS In anything that promises stabil-
lily. While the investments in short
term treasury bonds are continuing at
the rate of nearly 20O0,OO0,OOO francs
a month, there Is plenty of money for
industrial and commercial enternrises
ana i0ng-term loans. The 100000 900
franc loan to provide immediate
resources for indemnlfying victims of
the invasion was oversubScribed before
the official opening of the subscrip-
lions. Important banks and indus
trial companies have lately increased
their capital to an aggregate Of nearly
5OO0O0OOO,OOO francs.
Big Trade on 5ourse.
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
which began before the signature Of
the treaty at Versailles, has been nm.
checked by successive liquidations.
This is regarded by keen observers
here as a sure sign of economic re.
covery.
Employers say the labor situation is
improved and that the last strikes de-
veloped signs that the workers them
selves were becoming weary of long
continued disturbances of business, in
dustry and transportation. They see
a tendency against frivolous strikes
and an indication that only real griev-
ances will induce the wage earners to
quit work hereafter.
Decentralization of capital and In
dustry Is seen in the establishing in
of textile industries to re.
place those in the occupied territory
destroyed by the war. This movement
has been greatly extended by develop
ment Of water power in the region of
the Alps and the center and south Of
France. Industrial leaders say that
no particular region of France here
after will monopollze any industry, and
declare that this scattering will prove
beneficial and result In a more
equable recovery of all parts of the
country.
To Transfer Industries.
Powerful financial groups are at the
head of the movement to transfer i'm.
portant industries from the coal re-
gion to southwestern France, where
water power soon will be available.
Other groups are being formed to de-
VelOp manufacturing centers near the
coast so as to reduce the cost Of
raw materials. indus