One of the most puzzling situations that lias engaged the attention of economists for many years is the spectacle of France, 2s a nation, hovering on the verge ut bankruptey, while her industrialists are in. the aggregate more prosperous than ever, her workers fully employed in ing contradistinction to those hee rest nations, and her ists able to launch out in all sorts of new schemes for the utilize tion of available funds. And yt Francs, asa slate, hae the pearance of being almost bankrupt. We are accustomed, in most coun:
to the lowieal sequence of finances reflecting the condition of troic and industry. But in France we hi seen for some time past the anomaly of port end export figures steadily by private prosperity, while lly successive governments search ily for funds to supply the needs of the national exchequer, and the cost of living goes up and up and tie exchange Value of the frane ets lower and lower. While there may be many reasons for this state ut altaics, it fe interesting privily to consider the position regarding Krench industry and commerce. Bearing in mind the present condition of French national finances, it fy an almost staggering fact that the value of French exports in 1925" was approximately four thousand million francs greater than it was in 1924 and pra seven times grea 1913, although the wholesale price level! was only 53 times ae high as Ghat ruling in the year before the war. These facts are taken from the annual report of the British 'Commercial Counsellor in Paris. Ag of French trade, the 1925 export tots! wes no Teen than 900,000 tons greater than that of the' previous year, and 8,000,000 tons (37 per cent.) in excess of tha for 1913. It cannot, therefore, be said that France's financial. d culties have been caused in any way by overseas trade depression, The real reason is one is regard to which even Frenchmen themselves are in violent disagreement. For ourselves, we give it up!
Text read from the printed page and cleaned; old type leaves the occasional error.