FRENCH FINANCES

Ashburton Guardian, Volume VII, Issue 2282, 16 November 1889, Page 2

FRENCH FINANCES

Franco la the most heavily taxed among the civilised nations. According to s> statlstioal report jmt published, the proportions among the principal natlona aro : France, 104 fi ; England, S7fr ; United Srates, 50fr; Belgium, 48fr; Germany, 44Fr ; Austria, 40fr ; Rusk, SGfr ; and Spain 33fr per head of the populations of their respective countries. ITranoQ also enjoys the privilege of posse* sing the heaviest public debt. The funded debt of Franca la estimated at 88 mill lards, Russia at 19 milliards, England at 18 milliards, Italy at 11 milliards, Austria at 10 milliards, and Germany at 9 milliards. Slnoa 1878 the French public debt has Increased eight milliards, In 1876 the total public expenditure m Franoo aggregated thro* milliards. In 1889 the eatlmated expenditure Is net down slightly m expeai of four milliards., . In 1876 the debts of tho Communes—that la to sty the local debt— amounted to 750 millions. lathe estimate for 1889 this local debt is let down at one milliard two hundred and fifty mil lons. ■.".„. , The heavy Increase m Iho Frenoh funded debt during the last deoada arises from the annual dtflolt, whloh is variously cat mitod. It Is, however, difficult to ascertain what this annual defiolt re»lly amounts to, owing to the prac tloa of withdrawing oortala items of expenditure from tho general budget, and plaoing them m special budgets, the resources of whioh are obtained solely from Troaeury Bills having sis years to run. Some writera on the subjjot plaoe the financial deliolt at half a milliard per annum. What is certain is, that the floating or unfunded debt has enormously increased of late years. Whatever patty tho goaoial eleotioua may throw uppermost it Is clo.tr that it muat occupy Itself Borioaoly with the fiaanoial eituatlpja, A new loan of at least a milliard will be neoesaary to clear the floating debt, and freßh taxation m some form or another is imporatlvo, ia order to provide for tho interest on tho now dobt.