FRENCH INTEREST IN SOUTH AFRICA.

Ashburton Guardian, Volume XXIX, Issue 7827, 21 June 1909, Page 1

FRENCH INTEREST IN SOUTH AFRICA.

M. Etienne Grosclaude, the wellknojpi French writer, who has twice visited South Africa,.and who has long been an active promoter of the etente cordiale, delivered last month, before the Society of Commercial Geography m Paris, an interesting lecture on the South African mines. The value of French capital invested m those mines is estimated Nat £28,000,000. The extent of the French commercial and financial interest m the mines warrants, m M. Grosclaude's opinion, a more active participation on the part of the great French financial houses m the management than they have thus far been inclined to claim. Moreover, although French capital is so largely represented, French industry j has participated to the extent of only £4000 m the equipment of the mines, which is estimated to have cost £9,000,000. M. Grosclaude insists at the same time upon the fact that the mining industry m South Africa is over-capitalised. " The French Consuli General at Johannesburg, M. Abel Chevalley, has, pointed out that France is ver-" inadequately represented m the Transvaal business world, and that to this fact is largely due the neglect of French interests, the care of which is handed over to a handful of enterprising financiers, m whose eyes, as the French say, "Les absents ont toujours tort." M.' Grosclaude, however, expressed his admiration: for the prodigious vitality of South Africa and for the high-minded attitude of public spirit of Lord Selborne.and Lord Methuen, as well as for Generals Botha and De Wet.