BANKRUPI FRANCH

Auckland Star, Volume XLV, Issue 127, 29 May 1914, Page 7

BANKRUPI FRANCH

iTn tlic Kditor i Mr. — It we look deep into this qnns- I tioii. we may find that the possibility j of France boinj bankrupt, not all "bunkum' , a.- t-tatod by your correspon- i dent "J1..J." in thi' "Star.'' The State may be bankrupt, although . the national debt may lw hi-IJ by the . people of tJie Mnto Tin- State owes the money, anil tut , money paid in interest is raised by taxation and paid over to people wh» an' practically Wrawiilg a jri-rijsion. The State dot's nut earn the money from bui-Unose profits or receive it from rout of land, but is all the time depending on the useful people earning.' protiu t.) meet tho taxation. When the profits arc made and ta\os <rathere.d and paid ovnr to tho mteirtv. receivers, there is •pjirohapiii'; power jjiven to a nnmhPr of people who own eecuritieh, but render no service.-. It its nonsense to say that Kranee or any other self-contained country can continue potting into debt, and its Government remain financial. There i? no natioii in tho ivorld that can treat it nationaJ debt a? an .usuot. although individual members of the. uonijmunit.v can t-lass it private wealth. j Individual.- ran remove tv other parte ;of the world to eseapo the eruehinj! I taxation. Tho world is now a little place, and all tlie nurplus or <a\injT3 of Hip worldrt inhabitants How I freely through all t'.n- financial ehanInelj leading up t > the cheapest l.in 1. It '. i> i;--05-iblp by exxvffiw taxation to [drive millions of people <'ut of l'rance. 'uliith in turn \v..:ild force pi-nji!,. i i +>vk ' prolitabie investment for t':ii-:r iii\ini;in otiivr eoiint.-iirs. '.vith i\\p re-:i't that capital could earn rmthiiij; in Kraih-e I after t!io tax-pithcror sv.i.- saf.siie.l. 1 iinrler.-taiid thai iinny peopli- in , Franco an- •■rf\ learniim to and write in Kn<rli.-li. an.] i AvuUl not he J to see liit'e Sew Zealand ! owning a bi? rut in the national debt jof France. W'tj have r. n '.: to invite th" I French and German bondholder? to huv so-t : .in? of land and live jn tn ; * honii- ■ til'ii! cnunt.ry. and wo fha'i liaw : ;.-■ [M-iw.-r •■> nnkr- Iran..- ni-i ■•prnin'iv liHiikrnpt. '■ it. ■->■ ■ our.se. w,. , d n .t do Tit'h w'ni"' , ! to pay the intrre-! to j :i-■ Sex Zealander.-.- ! am. et<\. I A. bA>TOKi).