THE FRENCH LOAN.
France is naturally very proud of the latest proof of her ability to raise a milliard loan without an effort but (re marks the " Pall Mall Gazette") after all has been eaid concerning the evidence which it affords of the wealth and credit of the Republic, this system of mortgaging the income of posterity cannot be regarded with complacency. The money is wanted for carrying on the great public works designed by M. de Freycinet, over which the French Government propose to spend twenty millions a year for the next ten years. France already owes £940,000,000, and tho issue of the new loan, to say nothing of those which are to follow, will raise the national indebtedness to close upon a thousand millions sterling —a colossal burden for even the strongest shoulders. The proceeds of tho new loan will be applied solely foe the construction of railways, canals, roads, &0., but every fresh demonstration of the ease and rapidity with which France can fill her treasury will increase the anxiety with which she is watched by her neighbors across the eastern frontier. It is not wonderful that these neighbors are asking, moreover, whether it is all really destined for public works.
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Bibliographic details
Globe, Volume XXIII, Issue 2258, 24 May 1881, Page 3
Word Count
204THE FRENCH LOAN. Globe, Volume XXIII, Issue 2258, 24 May 1881, Page 3
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