The Washington herald., 1922-01-16
PARIS PRICES 3S7 PER CENT
HIGHER THAN BEFORE WAR
Figures Show France Is Most Expensive Coun.
try in Which to Live.

TO the unfavorable situation OF the
| franc.
In 1922. therefore, France is faced
with the following situations:
Excluding war damages and PEN
| sions, Il total debt of more than
| 100000, 900. Treasury demands
of S0,0O0,O00,O0O. Tho 1921 apparent
deficit of 1850. 900, 900, but actually,
without counting war debt interest.
5000. .OOO. 900.
! 1t should be remarked that
/ France is the country Of the world
most free from strikes and labor
disturbances. Early fears OF an out
! break of revolutionary disorders
now appear, to have coRpletely van
| ished. The French government has
a firm grip of the labor situation
and seems competent to keep that
grip.
Has Less Unemploymcnt.-s
There is less Unemployment in
France in proportion than in any
other nation which fought in the
war except Belgium. This is main
| ly due, of course. to an artificial
prosperity induced by the enormous
labor required in the building of
devastated regions.
Regarded on the surface the
| French commercial situation is
fairly satisfactory. For the first
time in many years she has at
tained a favorable commercial bal
ancc. This has been done by limit
ling imports to the disappearing
point and by straining every nerve
10 increase exports. French finan-
c'al chiefs are partisans of the solid
theory that commercial recovery
can alone bring about the stabiliza-
ton of exchange.
Figures for all 1921 are not yet
available, but the latest statistics
| showing Frances position are as
| follows:
Cut Imports From L. S.
During the first six months of
1921 France exported. goods to the
value of O.SOo, 100000.
During the first six months of
| 1921 France imported goods to the
value OF 1O.4O7.OOO. 900.
Imports were as follows:
| Foodstuffs ..........t - .2.4SS. .0O0.0 900
Raw material ........ $40, ,0Co, 600
| Manufactures .......2. 2.779,000, 900
Exports were:
| FoodstuffS ..........1 1.00l ,0O0. 900
Raw materials .......2. I1S,OOO.O 90
Manufactures .... 6,fS4. 900 900
Postal packets. ..... 597.000000
ErRnnh A
during 1920 in all countries except
Germany, where the total fell off
by nearly 400, 200, 900 francs. France
exported S7S.O91, 900 francs more to
the United States than the year
preceding. and 1895, ,72S,O 900 more to
Great Britain.
Conversely, French imports from
America diminished by. 2,150,123. 600
francs and from England by 2,053.-
$4,000 francs. The two principal
reasons for this were. first. the gov
ernment policy of restriction of i'm
ports for the purposes outlined
above, and, secondly, the high VAL
ues of the dollar and pound ster-
ling correspondingly to the franc.
Treaties Are Abrogated.
The year has been noteworthy for
two other facts extremely damag-
ing to Frances credit. These are
the abrogations of the commercial
treaties between France and Italy
and France and Spain, the first of
which was denounced by France
and the second ended naturally and
was not renewed. On the other
hand. France has established satis-
factory commercial treaties with
Switzerland, Belgium, Canada and
Norway.
Frances situation with regard to
Germany is confusing, and it is
hard to draw sound conclusions from
a state of affairs changing from
hour to hour. Much depends upon
the findings of the Forthcoming
economic conference.
In considering this matter 1t Is
important to understand the pres
ent situation of Germany. Her
budgetary situation for 1921-1s22
amounts to practical confession
OF bankruptcy. in which case
Frances chances of obtaining set
tlement at the forthcoming dates
for reparations payments are nil.
Complain of Germany.
france. whom Germany's ap-
preaching bankruptcy hits more di-
rectiy than it does any other ma
tiof, complains that Germany is
not exacting the last cent in the
way of taxation.
French tables show that, fnan-
cially. and, discounting the indem-
nifty. France is laboring under a
fiscal charge far heavier than that
of Germany. Should the indemnity
not materialize. therefore, experts
see no hope for France unless she
resorts to moratorium, a measure
which up to the present is secuted
by all French financiers