The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-06-10
Why France Is
Able to Make
Rapid Strides
~ DWIGHT ". MORROW
az =. q. Morgan a 60

In making an estimate of the re-
cOvery Of Europe hom the dcvastn-
tions OF the great war We are az In
ciincd to FAY too much stress upon
physical destruction.
The great loss 10 Europe was the
loss Of lives.
In some countries Also there was
n great loss of organizing skill. in the
capacity of men to cooperate with
each other.
n men ran but retain their con-
hdencc in each other. their faith IN
their governments. the property losses
wnl soon be- made up.
II should be true In the future as 10
has been truc In the past that char
actcr aud capacity aud skill In organ
ization viii -" the qualities which viii
determine the worth of Individuals
ahd Of nations.
Gained In Power.
In the recent war France suffered
heavy losses Of a physical nature. but
she achieved great gains In power of
organization.
Her external dcbt today In gold
francs-including the debt TO the gov-
crnmsuts OF Great Britain and n
United StntcH-ls something less than
seven times b mount Of Indemnify
she paid in icSs than three Year, ar
ter thc Frnnco-prusslan war.
The differences between then and
now are not easily appraised but %
may De that France today II better
ahio--if she maintains the spirit to do
ao-to carry an external debt Of 81
t|iilioua of gold francs, than she was
TO pay AN external debt of q billion
gold francs then.
L. Sc1f sustaining.
Al an events. what Ffnusc has ac-
Il THIHHHLNHhAI la the HnNmHAMN nN nAT
external debt in the last six months
b. little lcsn than amazing.
Her external dobt reached It's max
imum point a. the mo OF September,
1890. A. hat time b amounted Ia
Sb.32s million francs At the end of
March. 1924 her total external debt
amounted 10 32.123 million francs. a
reduction OF over 1900 600. zoe gold
francs VI something more Than $500
100000.
The truth ~ that France Is again
becoming a self sustaining country.
She b. reducing her imports OF food
STUN. she b. developing "a surplus OF
goods for export.
This Dr. the fundamental explana-
ton Of the chang, In the French po-
sition. This rs the explanation of the
rise in the French exchange. During
the last three months the people Of
I franc nave htfu nNlNh more Tor Inv
rest ~ the world than the rest OF the
world has been doing for France.
The Future.
Il would be- idle 70 suggest that
France b. out Of her troubles. she
has very grave problems ahead OF her.
u is 10 De- hoped that with the set
Element Of he German Indemnify she
Will be- able 10 reduce the size OF her
army.
u L. "a De hoped. also. that the
counsel of her wisvst leaders VIII pre-
vail with reference 10 the handling
| of her domestic debt.
The solution ~ these problems Will
call for an of the patience, the cOur-
w and the capacity Of % French
people,
Hut no one who knows the French
chn doubt that they viii be- solved
and To those who have always be-
lieyCd in France, the remarkable TIM
pr0yemcut uf her condition In the past
siX months has been an Inspiring JUS
uncaiion of their faith.
France has sin "a long road Ca
travek but ahe has distinctly turned
the cdrner. And she has turned the
cotneT more quickly than anyone
would 4 have believed possible three
wears uEo.