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ALLIED MIGHT RISING.

CONFIDENCE IN FRANCE. GERMANY'S MILITARY POWER TO ' BE CRUSHED. AEFT FEEE TO WORK OUT HER ECONOMIC DESTINY. I he military situation of the Entente Allies on the Western front at thp end of the third year of the war is regarded by competent authorities here as actually better that it was a year ago, and enormously better prospectively by reason of the intervention of, the United States (wrote a Paris correspondent at the beginning- of August).

'fhe big change in the relative position of the Allies was brought about by the evacuation of a part of France by the Germans. This retirement, which was announcsd in Germany as a strategical retirement, made with the object of attc.inmg o, superior fighting position, has turned out to have been simply a retreat so that the German lines might be shortened and held by fewer divisions. Wherever the lines have moved on the west they have moved towards Germany./ The Allies measure their success, not by the ground gained, but by the fact that the Germans have had to endure shock after shock, and, in doing so. have lost. The German reserves, in the belief of French authorities, have diminished during the year by about 1,200,000, od at an average rate of 100,000 a month. The German wastage during April, May, and June is placed at upward of 150,000 a month, the casualties rising during May, according to German admissions to 170,000, not counting those slightly wounded who may be able to return to service. The situation on the Russian front is a cause of deep concern, but it is not regarded here as 'poesible for Germany to spare many more troops from the Eastern front for action on the Western front than already hav« been brought up. Hence, it is believed here that in the worst possible circumstances the fighting power of Germany cannot be greatly increased on this front.

France and Great Britain count upon the American army to be in operation under more favorable circumstances than in any spring since the war began. The British army in France is delivering powerful blows, which can be maintained indefinitely.

FRANCE CONFIDENT, SAYS RIBOT.

France begins the fourth year of the war in calm confidence and determination, as expressed by Premier Alexandre F. Ribot in these words: "Until the people with whom we are at war finally awaken and free themselves from the detestable tfegime that oppresses them, nothing will stop the Allies in their effort that will bring back peace to the world by the triumph of their arms." , "The entry of the United States into the conflict that is, pending in the world was the capital event of the third year of the war. It was welcomed with enthusiasm by the Allied peoples. They know what may be the effort of the American soldiers who have come to fight by their side. That event lesouiiaed mightily throughout the world. Certain Latin-American States, where France received touching marks of sympathy on the day of her national fete, already have shown, by breaking off relations with Germany, that they had a clear vision of the Germanic peril. "Greece, wrenched from the intrigues of a foreign faction, is preparing to send fresh contingents to fight with us on the Macedonian front. The cause of national liberty in all countries is finding more ardent advocates, who are heard with increasing attention. "The enemy, disappointed in his insensate hope of stopping ocean navigation, disillusioned in his effort to sap the courage of the Allies by false offers of peace, can do no more than to seek to envelope the origins of his criminal enterprise in a veil of untruth." FRENCH FINANCES UNSHAKEN. French finances have been unshaken by the war in the opinion expressed by Charles Gide of the University of Paris, an eminent authority on economic questions.

' "France," said M. Gide, "has spent about 70,000,000,000 francs on three years of military effort. Yet in the thirty-sixth month of hostilities, the French people are investing in short term Treasury bonds as freely as they .were two years ago, that is, at the rate of about 1.000,000,000 a month."

As evidence of the excellence of French credit, Mr. Gide pointed to the co-operation of the United States which lie said, "brings formidable aid to France and her Allies. This." he continued, "not only removes all doubt concerning the result of thie war from a military standpoint, but relieves the financial situation bv diminishing the drain upon French gold.

I "The money France has spent to sustain her military effort inside the country swells the figures of her outlay to immense proportions, but this outlay cannot be considered a dead loss except in such'proportion as is spent for steel, explosives, and other material made to be destroyed. Increased ■prices paid for every commodity, it must be remembered, also, has vastly increased the revenues of the French people. Before the war these revenues were 30,000,000,000 to 35,000,000,000 francs. Sow they are 50,000,000,000 francs annually. These figures show that formidable as the war debt may appear at first sight, the problem of its liquidation is not so alarming after nil. "Franco can stand another year of war outlay quite as well as she stood the third year. It would be embarrassing for her to pay in gold for everything bought abroad, but this difficulty has been relieved by the credit generously granted by the United States. "Franco will get through the war financially sound, will reconstruct her industries rapidly, and her interior situation will be liquidated without causing an economic upheaval. "I do not think any country will be ruined by the war. All are more or less in the same situation as France. The only real drain upon their resources is what they pay abroad. The 'best expenditure is that which might be called fictions—that is, the transfer of money from the pockets of some citizens to the pockets of others, a transfer in which a great many new fortunes have been built up, but in which the real riches of the country have been left untouched. "The talk of an economic 'war aftc;t'he belligerents lay down their arms has almost subsided. I consider it neither possible nor useful for Germany to be crushed commercially. She will be vanquished on the battlefield, her. military power will be crushed, but she will be left free to work out her o\vn. ecpno- j mic

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/TDN19170919.2.33

Bibliographic details
Ngā taipitopito pukapuka

Taranaki Daily News, 19 September 1917, Page 6

Word count
Tapeke kupu
1,076

ALLIED MIGHT RISING. Taranaki Daily News, 19 September 1917, Page 6

ALLIED MIGHT RISING. Taranaki Daily News, 19 September 1917, Page 6

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