New Britain Herald Newspaper, September 10, 1917, Page 14

‘Export Trade With ; America In 1916 \ Showed Tremen- Céixntry’s Naturat . Thrift and Indus- i ¢rial Resources' Promise Rapid » Commercial Re- . habilitation. " ITH Paris Boulevards echo- ing with “vives” for Amer- ican troops our interest in “ the welfare of our ally vast- ly increases, and facts are not lacking Yo encourage the belief that she is al- ready on the road to recovery from the * blow of invasion by a ruthless enemy. One of the most important develop- ments is the announcement that one of the largest banking institutions in America concerned with foreign trade, the Guaranty Trust Company of New F York, has opened a Paris branch to handle the rapidly increasing volume of French business arising not only out of commercial demands, but also out of the fact of the large number of Americans in France on military duty. This action may surprise many per- sons who had thought of France as bowed under a calamitous invasion. The bank, howerver, gives figures indi 2ating that France is not only meeting ber military’ and civilian problems with a stout heart and never failing sourage, but is re-establishing her ex- port business with this country. In 1914, the year of the outbreak of‘ the War, imports from France to this country totaled $141,446,252 This to- tal was reduced to $77,158,740 in 1¢ but last year the value of I‘rench im- ports to the United States rose to $102,- 077,060. “A nation that can achieve such a commercial recovery while her terri- shed by the invader,” Trust company's statement, sesses recuperative powers which justify the belief that she will emerge from the present conflict prepared to meet and soive triumphantly the prob- lems which confront Ler.” France’s Industrial Record. The commercial and industrial record of France, following past wars, indi- cates that she should recover quickly from the actual physical destruction inflicted in the present conflict. The reconstruction of railroads, the erection of factories to replace those destroyed, and the replacement of the mechanism of industrial activity that will be re: quired and that is in part already planned, offer a pecullarly inviting Yield to American capital and enter- prise. Tentative steps have already been taken by representatives of Amer- jcan engineers and business men in this work. y Aside from its attractive business aspect, the enlistment of American money and effort in the great task of geconstruction that will remain at the L3 i 5,1 1 end of the war will tend to cement still more closely the ties that bind the two great Republics together, and will en- able Americans to discharge in part the debt they owe to France for her friendly interest in the welfare and progress of the United States from the beginning of its life as a nation. In judging the industrial status of any nation, its production and con- sumption of coal, iron, and steel, and the growth of its transportation sys- tems are highly significant factors. In 1869, French industries consumed 21 million tons of cqal, of which 135 millions were taken from home mines. In 1912, the consumption was 61 mil- lion tons, of which 41 million tons Were taken from home mines. In 1869, the French output of cast iron was 1,380,000 tons, and of steel, 1,060,000 tons. In 1914, France pro- duced 5,311,000 tons of cast iron and 4,635,000 tons of steel. The increasing activity of her rail- way system is similarly demonstrable. In 1869, there were in France 10,743 miles of raflroad track; in 1912, there were 31,546 miles. Between 1869 and 1912, inland navi- gation increased 150% : while the traffic of her mercantile marine had amazing- ly expanded. The tonnage entering French ports in 1869 is set down as 11,000,000 tons. In 1912, this had been increased to 53,000,000 tons. French Finances Sound, Immediately prior to the war, France had a gold stock equalling $1,200,000,- 000 and a stock of silver aggregating 1~War rebuilds that which it has destroyed. AT » Y4 ) French soldiers repairing a for- est road. 2—The women of France are doing their part in rehabilitating its industries. Scene in a paper mill., 3—Thousands of village and city streets present problems like this. 4~—French iron and steel industries, as might be supposed, have received a tremendous impetus from the war. 5.—Boy scouts are doing their share in feeding France. 6.—In their re- tirement from occupied territory the German army destroyed millions of dollars of agricultural machinery. 7.—Thousands of women have gone into the printing trades. 8.—Soldiers in the Verdun sector repairing a ruined canal, $411,100,000. Of gold, silver, and pa-|to $48.63, which was more than 25% per, her _Rer capita allotment amounted | in excess of the per capita of gold, sil- SR i ver, and paper for the United, States in | the corresponding period; more than | twice that of the United Kingdom of | Great Britain and Ireland; approxi- mately two and one-half times that of Germany; and more than four times that of Austria Hungary. With a pop- ulation of 39,600,000 at the beginning | of 1913, France had in postal and pri- vate savings banks accounts of 14,578,- 897 depositors, with aggregate deposits equivalent to $1,091,303,658. On June 30, 1915, the United States had only 11,811,169 depositors out of a popula- tion of 101,740,000. Leaders in American finance ascribe the solidarity of the French republic to three influences: first, a thoroughly sound banking system, centralized in one of the greatest banking institutions of the world, the Bank of France; sec- ond, the ingrained thrift and frugality of the French people as a whole, to- gether with a national economic vigor not elsewhere surpassed; third, wise su- pervision, and patriotic cobperation by the government with banking and busi- ness interests. The government does its part to war- rant and retain the confidence of the holders of its securities. One of its wise policies is to impose new taxes to defray the interest charges on new se- curity issues. It began this practice after the Franco-Prussian War, and is today following the same rule in regard {to securities issued to finanee the pres- ent conflict. This continuity of purpess, ' doubtless, will prove reassuring to all holders of French government securities. The Franco-Prussian war of 1870- 1871 taught the French peaple the meaning of thrift and ecomomy. So well did they learn this lesson, that the whole sum of the indemnity de- manded by Germany, $1,000,000,000, ° was raised within the republie's eon:~ fines by its own inhabjtants sud peid off more than one year before the time stipulafed by the Germans. The habit thus acquired has never been forgotten by the Fremeh, and to- day the aggregate number of investors purchasing the French war Joans bas reached the amazing total af 500,000 individual subscribers. Perhaps no oth- er country, in proportion to its papula- tion, can make so good a shawing. Prefer Safe Investments, France is particularly fortumate ia that her small investors prefer “safe” investments rather than ¢fferings which promise high returns. Government Rentes, in France are perpetual, and this characteristic seems to obtain fer these government bonds incressing fa- vor in the eyes of the French peaple. The points of sympathy' betwaea France and America are teo many te enumerate, but the spirit of liberty and its resultant democracy are, today af , always, the major ideals of both as tions. Seeking no victeries but $hee( of peace, no territory except their ewn, no sovereignty except soversignty evar themselves — the independence and equal rights of the weskest mamber of the family of nations are te the peoplt of the United States and of France en . titled to as much respect 45 these af the mightiest empire. In defense of these principles, Franee is engaged ia a death struggle with militant sutee« racy and ruthless aggression, aad i §¢ not surprising to learn that she hes loaned to her allies and to other friend- 1y states 7,000,000,000 franes with which to further the cause of demoeracy, Jt - is ip keeping with America's traditions that since the date on which we fose mally aligned ourselves with Frapes and her allies in the great struggle, our Government has lent to France $810, 000,000. g It is eminently fitting that Ameriea should now be fighting on Prepch goli ¢ to make the world safe for demoerasy. The liberty that Amarica has emjoyed for 140 years France helped her ¢o achieve. ' The swords of Lafayetts and Rochambeau, aided by the guns of Pe Grasse upon the high seas, assisted in cutting the foreign ties that bound the American colonies ptior to the War for Independence, and from the private © purse of King Louis himself eame the first loan to America—unsecured apd unconditional—to finance that histewic undertaking. It was with eptire jus- tice that Washington wrote to Rocham- beau, “To the generous aid of your me- tion and to the bravery of its soms is to be ascribed in a very great degres ¢ that independence for which we bhave fought.” France Was Our Sponeon Following the decisive victory at Yorktown—impossible without the as- sistance and co-operation of Washing- ton’s French allies on land and sea— which virtually ended the War for In- dependence, came the ‘treaty of Ver * sailles in 1783. It was this treaty | which organized and created the United State of America, and it was & French sloop which brought to Boston the first announcement of its execution. Thus France, having helped us to win our 13- dependence, gave us a friendly asylum in which to conclude our terms of peace, « She did more. She stood sponsor for us upon our entry into the sisterhood of nations; was the first Buropean state to recelve a diplomatic representative from our shores, and simflarly was the first to recognize our national digmity by sending to us a represeatative frem her court. ¢ Always America’s Friend. ¢ ‘When in 1803 the United States de- sired to purchase from France the eity of New Orleans, Napoleon the Great ceded us the whole Louisiana territory, with its enormous resources, thus giv- ing us access to the Caribbean ses and to the Pacific ocean and making ours the lands that now form the vast and « fertile plain west of the Mispiasippl The acquisition of this territory was of inestimable significance in the develop- ment of the nation; after the Revelu- tion itself and the Civil War perhaps the most significant event in our kis tory. Again in 1812, though not &% rectly allied with us, France indirectly« aided us. And in 1898, following the close of the Spanish-American war, from France came the overtures for peace, and Paris was again the scene of the treaty which concluded matters. Thus in 1783, 1803, 1812 and 1898 France participated in the most momentous acts of our national existenece. This continuity of good Will and service em-" phasizes the close, intimate and deep sympathy which unites the two peoples. The Nation’s Capital of French Design. It was a French engineer, Major L’Enfant, who had fought and bled for us during the War for Jndependemcs, who was commissioned by Presidant Washingten to prepare a plep for the, building of our federsl city, affer that undertaking had been decreed by cep- gress on July 16, 1790. Major L'Enfant did this work with conspicuous abjlity, and his plans were closely follewed, though he did not live to see realized the city of his dreams. HMowever, on April 28, 1909, his remajns were remov- ed from their previous resting place and reinterred in the Arlington Na-& tional cemetery with Sftting cere- monies, in which the president of the United States, representatives of con- gress, the supreme court, the Society of the Cincinnati and other patriotic ar. ganizations participated. P SR BRI <