Evening star., 1935-08-11
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in the United States-French veterans
being as anxious as American veter-
ans to get their hands into the
treasury. OF the total budget 1t is
reported that around $4,000, 900 900
francs go toward pensions. interest
payments and non constructive ex-
penditures.
The French railways are mostly
government operated. 1t is impos-
sible to estimate accurately, in ad-
vance. what the annual deficit will
be. In fact, it is never known until
accounts are closed. Some authori-
ties claim that the operating costs
average as high as 10000 o00, 900
francs yearly more than receipts.
The rapid shrinkage in the national
revenues is presenting a critical prob
lem for the French treasury. Receipts
have decreased by one-half since the
world depression began. Official fig
ures show that Frances revenue for
the second quarter of 1885 was
6.5l6,84l 800 francs. That was ,264,-
133,l00 francs. or about 20 per cent,
below the official estimate. 1t was
382, ,86l 500 francs lower than the re-
ceipts for the same quarter in 1884.
The revenue for the first quarter in
1885 was even less than that for
the second quarter, the total for the
first six months of this year being
13,160,377 100 francs 1t is a mere
matter of addition and subtraction to
show what the probable deficit, even
with 10000 900, 900 saving. hoped for
by Laval, will be for 1885. With
mounting military and naval defense
expenditures, and decreasing revenues,
shrinking commerce, etc. the diff
Guilty in maintaining the franc on a
gold basis can be readily appreciated.
While many countries, especially
those which resorted to currency de-
valuation, are showing improvements
in commerce and industry, France,
along with Holland and Switzerland,
is still humping along the bottom.
Frances import surplus continued to
decrease considerably in 1884, as did
Hollands, Switzerland's and Bel
gums. The latter country, forced
off the gold standard in the Spring,
now has joined England. Sweden and
CzechoSlovakia on the upward road
toward recovery.
u. S. Industrial Index 7S.
-F -,
dustrial production, using the 1928
average as 100, show France at 73,
Holland II, the United States at 78,
Canada SO, and Germany at 81. Great
Britains industrial production is II per
cent above pre-depression averages;
Sweden and Finland stand at ia,
Norway at lis, Denmark at 1870 and
Japan at 159. Italy, booming as re-
suit of a war psychology, and with
100 900 900 soldiers in the role of con-
sumers. has an index of LOT, as against
100 in 1928
Industrially, France is in bad way.
Business is at a standstill The
agrarian population, which forms the
nations backbone, is equally adversely
affected. Wine is yardstick of
Frances well-being. Last Autumn
farmers unable to sell accumulated
wines poured contents of barrels into
the cutters in order to use the casks
for the 1894 vintage which, in quality,
far surpassed the vintages of preced-
ing years. They were unable to buy
t,orro1c
The condition of the wheat growers
is similar to that of American wheat
producers. Last year it was estimated
that 100000 tons of wheat were
dumped, mostly in Germany, to hold
up, artificially, wheat prices. Despite
the crisis, France, up until 1888 had
maintained agricultural prices at a
relatively higher level than industrial
prices. Since 1888, however, the dis
parity in favor of the farmer has
been disappearing rapidly. Only a
few days ago the Laval government
was forced to restore the surplus
stockage" scheme, abandoned when