Hammond Times, Volume 12, Number 74, Hammond, Lake County, 14 September 1917 — Page 12

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i - if -1 4 7s America In 1916 Showed Tremendous Increase Over 1915. Country s Natural Thrift and Industrial Resources Promise Rapid Commercial Rehabilitation. ITII Taris Boulevards echoing with -vives" for American troops our interest in the welfare of our ally vast ly increases, and facts are not lacking to encourage the belief that she is already on the road to recovery from the blow of invasion by a ruthless enemy One of the mfcst important developments Is the announcement that one of the largest banking institutions in America concerned with foreign trade, ! the Guaranty Trust Company of New 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 persons who had thought of France as bowed under a calamitous invasion. The bank, however, gives figures incltcating that France is not only meeting her military and civilian problems with a stout heart and never failing courage, but is re-establishing her export business with this country. In 1914, the year of the outbreak of the War, imports from France to this country totaled $141,446,232. This total was reduced to $77,158 740 in 1913, but last year the value of French imports to the United States rose to 5102,077,000. "A nation that can achieve such a commercial recovery while her territory is being ravished by the invader," says the Trust company's statement, 'possesses recuperative powers which justify the belief that she will emerge from the present conflict prepared to meet and solve triumphantly the problems which confront her." France's Industrial Record. The commercial and industrial record of France, following past wars, indicates 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 auired and that is in rart already planned, offer a peculiarly inviting field to American capital and enterprise. Tentative steps have already been taken by representatives of American engineers and business men in this work. Aside from its attractive business aspect, the enlistment of American money and effort in the great task of reconstruction that will remain at the end of the war will tend to cement still more closely the ties that bind the two great Republics together, and will enable 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 consumption of coal, iron, and steel, and the growth of its transportation systems are highly significant factors. In 1S69, French industries consumed 21 million tons of coal, of which 13.5

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I 2 .'- J."" 1" -1 if- - i J." -As t 5 5 f J 4 ,w ""tl 5,-. " L.i. v : .rsvrw:- --- .-? 4? B.j' ITII,' yw Vr-.. . millions were taken from home mines. In 1912, the consumption was CI million tons, of which 41 million tons were taken from home mines. In 1S69, the French output of cast iron was 1.3S0.0O0 tons, and of steel, 1,060,000 tons. In 1914, France produced 5.311,000 tons of cast iron and 4.633,000 tons of steel. The increasing activity of her railway system is similarly demonstrable. In 1S69, there were in France 10.743 miles of railroad track; in 1912, there were 31.546 miles. Between 1SC9 and 1912. inland navigation increased 150; while the trafllc of her mercantile marine had amazing ly expanded. The tonnage entering French ports In I860 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 $411,100,000. Of gold, silver, and paper, her per capita allotment amounted to $48 63, which was more than 25r0 in excess of the per capita of gold, silver, and paper for the United States in the corresponding period; more than twice that of the United Kingdom of Great Britain and Ireland; approximately two and one-half times that of Germany; and more than four times that of Austria Hungary. With a population of 39,600,000 at the beginning it 1913, France had in postal and private savings banks accounts of 14.57SS97 depositors, with aggregate deposits equivalent to $1,091,303,638. On June 30, 1915. the United States had only 11.S11.169 depositors out of a population of 101,740.000. Reasons For Solidarity. 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; second, the ingrained thrift and frugality of the French people as a whole, together with a national economic vigor

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1. Wax rebuilds tkat which it has destroyed. French soldiers repairing a forest road. 2. The women of France are doing their part in rehabilitating its in dustries. 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 retirement 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.

not elsewhere surpassed; third, wise supervision, and patriotic cooperation by the government with banking and business interests. The government does its part to warrant 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 security issues. It began this practice

4? V 4' after the Franco-Prussian War, and is today following the same rule in regard to securities issued to finance the present conflict. This continuity of purpose, doubtless, will prove reassuring to all holders of French government securities. The Franco-Prussian war of 1S701S71 taught the French people the meaning of thrift and economy. So wel' did they learn this lesson, that

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mm 15? 2 :y t ; 5 .ii $ - - . .V '3; : us; . wi w (io.. '-..'';""- -" V- ii&f'"? the whole sum of the indemnity de manded by Germany, $1,000,000,000. was raised within the republic's confines by its own inhabitants and paid off more than one year before the time stipulated by the Germans. The habit thus acquired has never been forgotten by the French, and today the aggregate number of investors purchasing the French war loans has reached the amazing total of 4,500.000 individual subscribers. Ferbaps no other country, in proportion to its population, can make so good a showing. Prefer Safe Investments. Fiance is particularly fortunate in that her small investors prefer "safe" Investments rather than offerings which promise high returns. Government IJeutes, in France are perpetual, and fthis characteristic se?ms to obtain for these government bonds increasing favor in the eyes of the French people. The points of sympathy between France and America are too many to enumerate, but the spirit of liberty and its resultant democracy are, today as always, the major Meals of both nations. Seeking no victories but those of peace, no territory except their own. no sovereignty except sovereignty over I

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1r St. k ;x.vl,y i:af"-. t, fifl iw ."t.asi s ,1 V 'i themselves the independence and equal rights of the weakest member of the family of nations are to the peopiof the United States and of France en titled to as much respect as those oi the mightiest empire. In defense o; these principles. France is. engaged in a death struggle Mith militant autocracy and ruthless aggression, and it is not surprising to learn that she has loaned to her allies and to other friendly states 7,000,000,000 francs with which to further the cause of democracy. It Is in keeping with America's traditions that since the date on which we formally aligned ourselves with France and her allies in the great struggle, our Government has lent to France $370,000,000. It Is eminently fitting that America should now be fighting on French soil to make the world safe for democracy. : The liberty that America has enjoyed for 140 years trance helied her to achieve. The swords of Lafayette and Kochambeau, aided by the guns of Ds Grasse upon the high seas, assisted in cutting the foreign ties that bound the American colonies prior to the War for Independence, and from the private purse of King Louis himself came the first loan to America unsecured and

unconditional to finance that historic undertaking. It was with entire justice that Washington wrote to Kochambeau, "To the generous aid of your nation and to the bravery of its sons is to be ascribed In a very great degree that independence for which we have fought." France Was Our Sponsor. Following the decisive victory atYorktown Impossible without the assistance and co-operation of Washington's French allies on land and sea which virtually ended the War for Independence, came the treaty of Versailles in 1783. It was this treaty which organized ind created the United State of America, and it was a French sloop which brought to Boston the first announcement of its execution. Thus Francel having helped us to win our independence, 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 ol nations; was the first European state to receive a diplomatic representative from our shores, and similarly was the first to recognize our national dignity by sending to us a representative from her court. Always America's Friend. When in 1S03 the United States desired to purchase from France the city of New Orleans, Napoleon the Great ceded us the whole Louisiana territory, with its enormous resources, thus giving us access to the Caribbean sea and to the Pacific ocean and making ouri the lands that now form the vast and fertile plain west of the Mississippi. The acquisition of this territory was ol inestimable significance In the development of the nation; after the Revolution Itself and the Civil War perhaps the most significant event in our history. Again in 1812, though not directly allied with us, France indirectly

aided us. And in 1898, following the close of the Spanish-American war, fm France came the overtures for peace, and Paris was again the 6cene of the treaty which concluded matters. Thus in 1783, 1S03, 1812 and 189S France participated in the most momentous acts of our national existence. This continuity of good will and service emphasizes 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 Independence, who was commissioned by President Washington to prepare a plan for the ' building of our federal city, after that undertaking had been decreed by congress on July 16, 1790. Major L'Enfant did this work with conspicuous ability, and his plans were closely followed, though he did not live to see realized the city of his dreams. However, on April 28, 1909, his remains were removed from their previous resting place and reinterred in the Arlington National cemetery with fitting ceremonies, in which the president of tne United States, representatives of congress, the supreme court, the Society of the Cincinnati and other patriotic organizations participated. Reciprocal Courtesies. Thirty years ego the people of France gave to the people of the United States the colossal figure of Liberty, which stands on redloe's island ia vw York harbor. There, raised high above the waters of the harbor and looking out toward the open sea, flaming torch in hand, the great statue welcomes the traveler visiting our shores and the immigrant seeking refuge in free America. Later, moved to an expression of our undying apprecia tion of a French gentleman and a hero, the people of the United States gave to the people of France a inclement to the memory of Lafayttte, which was unveiled in Paris oa July 4, 1900. The ceremonies upon this occasion were imposing and dignified, and the event united jet more closely the sister republics of America and France. The deeply rooted sense of attachment existing between the peoples of France and America was again manifested when the United States welcomed Marshal Joffre, former Premier Viviani and the French commission on their memorable visit to this country shortly after our entrance into the European war. Everywhere they were acclaimed with the wildest enthusiasm. To the American public they typified the soul of heroic France, and the great, generous heart of Columbia beat with affection for them. This visit in the unity of feeling it expressed was one of the most significant events in the history of two peoples. The emotions awakened here by Joffre and Viviani were equaled only bv those aroused by General Pershing and his staff when they arrived in France as the vanguard of the United States army, the harbingers of Ameri ca's might come to the rescue of France and democracy. HIGH COST OF LIVING. It's An Old, Old Story and Was Told 2,000 Years Ago. A wife's letter 2,000 years old was unearthed recently In the ruins of the Serapoum, the temple of Memphis, the great city of ancient Egypt. The letter was. written by Isias to her husband Hephaestion, who had deserted tier. There were two letters, in fact, the first bearing a date equivalent to July 24. 186 B. C. In them the wife reproaches her husband for neglect of his family, and, what Is particularly interesting at the present time, she complains of the high cost of living. Here are some extracts from the first letter: "Isias to Hephaestion, her husband. Greetings If you are well and other things are turning out with you according to your wishes It would be as I perpetually pray the gods. I myself am in good health, and the child and all In the house make mention of you continually. When I received your letter from Ilorus, in which you explained that you were in retreat In the Serapoum at Memphis, I immediately gave thanks to the gods that you were well. But that you do not return dis tresses me, for having piloted myself and your child through such a crisis and having come to the last extremity because of the high cost of corn, and thinking that your return would bring me relief, you have never even thought of returning or spared a look for my helpless state." New York World.