Salt Lake Herald-Republican | 1918-02-24 | Page 58 | French Public Debt Reaches Huge Figures

FRENCH DEBT REACHES HUGE FIGURES Total in 1914 Will Tin Be More Than Quadrupled J Jy y the War Paris B By Mall Tire The lal-The The public debt of Franco France o was about francs at the end of 1917 HIli or m more re than on July 31 In 1911 S At least more will willbe willbe 1 be added aldel to It i during the tho course of ot this year ear bringing it up to francs It Is I expected The Tire interest charge chargo In was francs At the end of ot 1917 M. M 1 l Klotz lotz minister of finance estimated estimated est est- esti esti- mated It at nt francs Based Basl on the cost of ot th the war up to the tho nd md nd of 1917 tho bud budget et of ot France as compared with that of ot 1914 11 I la I estimated est est- esti estl- mated as follows National atonal defense appropriations 1914 2613 2618 million after war 2300 million public services 1914 1350 1850 million milon after war million Interest on public debt debt 1914 1306 HOS million after war million pensions 1 and social soca reforms million milon 2600 2800 million Pensions Pension based on the tho casualties re reported reported r- r re- re ported up to the end of ot the year are ara estimated d at francs an an- an The Tho Interest charge will wil b be Increased It I Is expected not only by loans al already already al- al ready floated but by an increase in tho tue Interest on the sums advanced b by bythe bytho tho the Bank of or France which must eventually o be converted Into loans at ata a higher rate This Item is estimated at a year ear A considerable part of the tho paper circulation may may be retired and ae replaced by a a perpetual loan Involving a a further charge of ot 1 a 3 y year ar Short term national defense bonds of or which there are now outstanding about francs will also bo be bf converted into bonds at a a somewhat higher rate rate adding adding perhaps more 6 Ug Lw Ji lUO 1 increase UI lm IC in tho the interest charge chargo is J made up ot of interest on oa the ten ton billions required to repair war damages and more on a fresh loan of or ten tea billions For each additional year of war Avar about francs must be added to the budget to care Tor for the added adde war ar debt If I tho war wr ends within a year ear the amount France will wil have havo to raise each year ear will wil be In Ia the neighborhood neighborhood neighborhood neigh neigh- of francs ac according according ac- ac cording to present estimates That amount is susceptible however to Im Important tar tar- reductions For example the national defense Item Iem will wil depend upon tho the measure of oC success obtained In the constitution of ot the tire Society of Nations