THE FRENCH LOAN.

South Canterbury Times, Issue 2551, 25 May 1881, Page 2

THE FRENCH LOAN.

SECOND EDITION

Franco is naturally very proud of tlie> latest proof of her ability to raise a. milliard loan without an effort; hutremarks the “Pall Mall Gazette”)) ,after all has been said 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 the 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 collossal burden for even the strongest shoulders. The proceeds of the new loan will be applied solely for the construction of; railways, canals, roads, &c., but every fresh demonstration of the ease andl rapidity with which France can fill her treasury will increase the anxiety withi which she is watched by her neighbors; across the eastern frontier. It is note wonderful that these neighbors ara asking moreover, whether it is all really destined for public works.