Evening star., 1923-09-21

creasing her production and drasti-
cally curtailing her consumption can
she do this. How difficult this really
is can best be understood when we
know that in no year during the past
twenty-five has France ever sold as
much as she has bought. That is the
real reason why she has not been
able to pay even the, interest on her
foreign debts to either the United
States or Great Britain.
But there is another snag in the
way. Northern France must be re-
built and 1t will take about 10000
millions of dollars to do it. France
has started the work and has ac-
complished remarkable results. But
1t has only aggravated her battling
finance problem Her overheads are
mounting higher. Her public debt in
terest, pensions and reparation ex-
penses now absorb rs cents out of
every dollar raised in France for the
government. And the government is
raising by taxes only so per cent of
what she spends.
France knows that her financial
salvation lies in more production and
less consumption. But 1t is one
thing to have great production ca
pacity and quite another to get
orders enough to run 100 per cent
capacity. That France is now finding
out. The annual present capacity of
France in pig iron is estimated at
100000 tons. and in steel. 100000
tons. In 1922 the total output
reached Sc per cent of the pig iron
capacity and 50 per cent of the steel
Why so small a production? Lower
purchasing power in Europe, the
slowing down of production, more
visas. etc, and in France not enough
coal and coke to supply the ovens
and furnaces.
Well what about coal and coke?
In 1918 France consumed rs mil
lions Of tons of coal. She produced
additional. Today she Is importing
about the same amount as formally.
but prices have doubled and higher
prices for coal mean higher and
higher manufacturing costs for
Before the war France needed T.
900 900 tons Of coke annually. She
produced only $500. 900 tons and i'm
ported about as much again, mostly
from Germany In 1922 France pro-
duced 100000 tons and imported
over five times that amount. Prices
have likewise doubled during the past
year on this article. She now has
iron and steel. but they are valuable
only as she can provide cheap coal
AMI cheap coke. She has already
dustries seriously hampered for lack
of both coal and coke. This crisis
has been coming to a head ever since
the close of the war. She knows
that her one salvation from bank
ruptcy and debt repQdiation lies in
have more coke and coal for her
own price. Where can she get it
10 that she may become economically
independent? BY this time you will
have guessed where these things so
necessary for her are located. Both
. the Ruhr Germany produced 190.-
100000 tons of coal in 1922 and ia
100000 Of IL came from the Ruhr
x x
So in January 1923. France en-
tered the Ruhr, not to make Ger
| many pay reparations. but first and
foremost to get cheap coke and
cheap coal to assist her in increasing
| her production and to be well sup
piled in the future struggle for bread
| that is surely and swiftly approach
! ing.
In a word, France. now almost
able to feed herself from her own
! production, and driven almost to
madness by her financial difficulties.
| has definitely cast her weight into
! the scale pan of civilization on the
! side of business nationalism, balance
of power alliances and financial and
economic imperialism. She has come
| to the conclusion that her future
welfare lies more and more along
, that line; backed up by such military
strength as is necessary to get re-
/ suits.
; 1t is only a little step from this
position TO that of the military and
| economic dictator OF Europe.
This is the story of France today
as l read the figures.
Tomorrow-"The Problem of Ger
many"
! Copyright. 1928, in United States and Great
Britain by North American Newspaper
Alliance. All rights reserved.l