The weekly Alaska citizen., 1920-01-26
CLEMENCEAU IS LOSER IN RACE
 FOR PRESIDENT
FRENCH PREMIER IS DEFEATED FOR PRESIDENCY-DESCHANEL IS ELECTED-N NEW PRESIDENT WAS MEMBER OF CHAMBER OF DEPUTIES FOR YEARS.

thot that Clemenceau would be k. elected
 a Deschanel was born in Brussels in H 1856 where his father. former sen a ator had been eXiled for opposition 10 Il Napoleon III. He first came into #prominent public notice in 1885 be #cause of his eloquence in the chamber #of deputies to which he had just been #elected
 ,es In 1898 Deschanel was first elect ed 2. president of the chamber of deputies ~and served In that office continuously until 1902. In 1912 he was again chosen as president of the chamber and has served continuously until his election Saturday as president of f',r
 republic. In 1899 he was elected to
 the French Academy and in that year. also received 10 votes for pgoai- i. dent of France.
 NOW CONFIDENT. France will begin the new year with tar greater confidence than the N last This Is in spite of formidable } handicaps such as the balance of trade x running against her at the rate of y about 1,5O0,O0000o francs month. ~ about 50 per cent depreciation of the | exchange value of the franc and the consequent difficulty of procuring raw . +rrna to. ialc tI,. A needed for reconstruction
 $& Frances renewed confidence is de 3 rived directly from the result of the recent elections. These are regarded here as having definitely stabilized v internal politics, ended all danger of k revolutionary agitation for some time to come and brot about better Bn attitude by capital and labor toward he immense effort before France.
 Money Is forthcoming for invest ment in anything that promises sta bility. While investments in short term treasury bonds are continuing
 at the rate of nearly 2 000 900 GOO francs month, there is plenty of money for industrial and commercial enterprises and long-term loans. The
 900 900 000-franc loan to provide i'm } mediate resources for indemnfyine victims of the invasion was oyer | subscribed before the official openinr 2, of the subscriptions Important ls6anks and industrial companies have i lately increased their canital to an f aggregate of nearly 800 900, 900 900 ' francs
 Transactions on the Paris bonreo ? which still are confined to cash donlr r 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 un-
 checked by successive liquidations
 This is regarded by keen obsorvc "a
 here as sure sign of economic re covery.
 Employers say the labor situation
 is improved and that the last strikes
 developed symptoms that the wcri-
 CTS themseleves were becoming weary
 of long continued disturbances of
 business, industry and transportation
 They see a tendency against frivolous
 strikes and an indication that only
 real grievances will induce the wlge
 earners to quit work hereafter
 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
 ment of waterpower in the region of
 the Alps and the center and south of
 France. Industrial leaders say that no
 particular region of France hereafter - will monopoliZe any industry and de-
 clare that this scattering will prove
 beneficial and result in a more eau / able recovery of all parts of the
 country.
 Powerful financial groups are at the head of a movement to transfer
 important industries from the coal
 region to southeastern France where
 water-power soon will be available.
 Other groups are being formed to de-
 veloped manufacturing centers near
 the coast so as to reduce the cost
 of transporting raw material In-
 dustrial leaders say that this activity
 on the part of capital. supported by
 the recovery of labor from what has
 been characterized as wave of "lazi-
 ness" gives healthy tone to the
 situation.
 Instability of the exchang. value of
 the franc is regarded as one of the
 weakest points in French conditions.
 It is pointed out that France cannot
 pay twice over at present high prices
 for supplies she needs ind that is
 what the present low value of the
 franc. The French government is now
 studying complete renovation of her