French Virtue of Thrift Rapidly Vanishing: Landmarks to be Demolished: British Employees in France From Out Own Paris, May 30.
Monsieur Georg: s I.ecomte, of the Académie Francais, is alarmed by the amount of speculation in stocks and shares which is now taking place in France. The woollen stocking—typifying the habit of putting money aside for a rainy day—is out of date, he says. Its place is taken, even on the coldest Gays, by the unsubstantial and superficially brilliant artificial sil article.
The old woollen stocking has provided France in the past with canals, railways and harbours and has abled her to utilize her natural Sources and renew her industrial equipment. It supplied the capital which enabled France to make in vestments abroad and share in the economic development of other countries, Since the war so much ridicule has been poured upon the old-fashioned virtue of thrift, and the public has seen so many examples of fortunes made in a few years, that workers have become Spendthrifts to an extent unknown previous generations.
This relapse has been hastened by the heavy taxation of dividends and increases in death duties. Why save money, people have argued, If the tax collector is to get mont of it? Even where the old habit of spending less than one's income still obtains, small capitalists longer put their money into useful public enterprises. The lives of many thousands of people have become abnormal. Their chief interest is centred in the daily Bourse of quotations, Speculation is pant. Financial "tips" are whispered in the salon, the kitchen, the garage, the club, the cafe, and the wine shop. If you listen to conversation between two strangers waiting for an omnibus corner, the subject is to be stocks and shar ed to turn back French workers, and the French have very naturally Zetallated, to that it became inv Possible for instance, for the head of a British firm to send a youns, man over to Franco to learn the language and business" conditions. The new system establishes quotas for various trades and occupations but maintains the principle of re-
British: nationals are allowed to posts in France only of the French Minis try of Labour, and under the twofold condition that the contemplated employment cannot be taken up by a French citizen, and that it would be unreasonable to ask the employer to train a French citizen for the profession in which the position in question ig vacant, The restrictions extend to movements in and out of the country. "An English bank clerk, for instance, who has obtained the required permission to work in France and who wants to visit his home in England, for a holiday or any other purpose must go to the Ministry of Tahour and obtain a document enabling hin to return to France within two months. Should he be compelled by illness or some other cause to prolong his sojourn in England for more than two months, he would have to go through another series of formalities. If, for instance, he received a telegram about 6 pam. announcing the serious illness of near relative and urging him to come at once, he would either have to wait until next morning to obtain his permit from the Miniatey of Inbour, and thus lose nearly 24 hours, or he would ignore the regulations, rush off, and find himself involved in all sorts of complications when he tried to return to his employment. We do not seem 10 be making much progress towards the formation of the United States circulates. without wealth of the country.
'The great est difficulty is experienced financing new industrial enterprises in France, and in the meantime the public' is becoming more and more demoralized. The only remedy M, Lecomte can suggest reduction in the taxation of divi ends, but M. Poincaré will not listen to any reduction in revenue until the work of financial reconstrustion is completed. The reign of the lk stocking is by no means at an end.
Text read from the printed page and cleaned; old type leaves the occasional error.