The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-21
Economical and Financial
Situation of France
The New French Loan

r. we now pass to the financial situation
and to the means which France Is using to
face her internal needs and her exterior obli-
cations, we see that the French people. who
before the war paid in taxes about los francs
(about $50 at that time) per capita, to-day
pay $500, making quadruple sacrifice to
the State. But France, who has always
gloried In meeting her obligations and who.
before the war. had no exterior debt. has re-
solved to free herself as quickly as possible
of debts that were contracted with foreign
countries because OF the frightful conflict
which she endured longer and more heavily
than any other power. II Ia for this reason
that the French people, who before the war
paid less than 10000, 000, 900 francs in taxes
now unhesitatingly and without protest pay
more than 10000, 100000 francs.
we have already shown the value of the
fertile land OF France and her riches In agri-
culture and in divers mining products, to
which must be added potash from Alsace and
iron from the Basin of Driey. We must not
think OF that point with regard TO Continental
France alone lust as Great Britain. France
possesses to-day an immense colonial empire.
the area OF which covers II 100000 square
silometers, and exceeds the total area of the
United States and Alaska together. Her
colonies and protectorates OF North Africa
algeria Tunis, Morocco) yield almost every
thlng-wheat. wines. fruits. vegetables cattle
hides. olive oil, petroleum, etc. Her colonies
In Western and Equatorial Africa produce
peanut oils, elephant tusks. hides and a
thousand other products. and there Is also
the possibility OF cotton growing on vast
scale. Madagascar exports all sorts of tropi-
cal products. notablye valuable hardwoods.
cattle and various minerals. 1ndo China ep-
ports rice and rubber. Cochin China exports
valuable woods, which she has In inexhausti-
BILE supply In Cambodge and Laos AMMAN
supplies teas and cattle, and from Tonkin
comes rice and varied mining products. such
as coal. zinc, anthony, brass. etc.
In conclusion. without mentioning the Re
union Islands and the West indies. French
Guiana Is full OF riches In gold and woods.
r Is interesting to notice In regard to this
that exports OF French colonies to France
are more than twice those OF five years ago.
and their transactions with foreign countries
Increase daily.
But all those riches would count for COM
paratively little II the French character was
not the one so well known and which Is char
acterized by courage, intense industry. thrift
and especially n conservative spirit. which
comes from the fact that at least two-thirds
OF the French population Is composed Of
peasants. agrculturists, farmers. mostly all
proprietors OF the safl. The radical labor
element Is absent. One saw Il Mt the legisla-
tive elections OF year ago and which
brought an enormous conservative majority
10 the French Parliament. This is an abso-
lutte guarantee Of stability not only OF French
institutions, but also OF France as whole.
and this stability. this soldity and this
7prit OF conservation, which does not In the
least exclude progress, should attract French
and foreign capitalists who have confidence
In n country which typifies order and a
rtrone repugnance for all anarchists and
Polsheviki. We are quoting the French Car
dinals who so eloquently expressed them
selves In n recent appeal for the present
loan: 1--WE have In power men whose line
Of conduct has been constantly approved bv
Tho two Chambers and the entire country.
These men have accepted the difficult task
~ satisfying the debts and OF remaking
The wealth OF the country. II IL the duty OF
MI tho citizens and friends OF France 20 give
'hem tho indispensable means TO accomplish
his noble mission"
This patriotic appeal Of the French Car
annls was addressed 10 the people OF France
The latter WIN have not only the advantage Of
occurring per cent. on their investment but
the French people and our friends OF America
will have the greater advantage because be-
eides the interest Of q per cent. they have
AZ the present time n very favorable cx-
chnrge which allows them ~ nay only from
s1s 20 $50 nor bond worth I 900 francs, about
one-third Of its real value. Can one imagine
more tempting transaction than the one
~ safe investment and tho certainty tina,
IN few years, when tho exchange viii be
~ par, the investor will have triped his
captnl?
The Consul General Of France IL confident
'Nat this appeal viii be understood by nil
HE counfryrnen IN tho United States and nv
fNe numerous American friends OF Franco
Tho spbscrptions viii he received free until
November 70 at tho office OF the Consulate
General. 2 East 40th street. New York.