NOTES AND COMMENTS.

New Zealand Herald, Volume XLVIII, Issue 14587, 25 January 1911, Page 6

NOTES AND COMMENTS.

FRANCE'S ENORMOUS- WEALTH.

"In ten years France has lent £680,000,000 to the foreigner." ' So says M. Edmond

Tilery at the head of a noteworthy article which he contributes to the Matin. Everyone knows that France is a very wealthy country, but all the same this .figure is extremely impressive for more. than one reason. The decade to which M. Thery alludes is comprised between January 1, 1899, and December 31, 1908; and this is an enormous sum to have sent abroad. As a matter of fact, this exodus, of French capital lias given rise from time to time to harsh criticism, and the writer frankly admits that it is certainly a cause for deep regret that so vast a sum, instead of having been devoted, to the development of the nation's industry and agriculture, should have gone to help the development of new countries, which at some future date will be formidable rivals. He argues, however, that it is most unjust to maintain, as is often done, that these foreign investments are of no profit to the economic power of France. "Were such the case, our country would not have become the granary of disposable capital', to which States that want to borrow invariably come." And he contends that the foreign stocks acquired by the French in this decade " constitute a mighty reserve of gold, bringing great annual revenues to their holders, and thus giving to the ensemble -of the French financial market an influence abroad which has been of profit to all the material interests of our country." Still, M. Thery does not quite like it. " Truth compels us to note that we are lending of late years too much to the foreigner and not enough to France, where new enterprises are being more and more neglected. We clearly devote too small a proportion of out new savings to new French affairs, as if there was no longer a single strip of our territory or one of our natural resources to be exploited. Wo must at all costs react against this tendency,' and find the means to awaken the spirit of initiative which is being lulled to sleep in the arms of fortune." THE SALVATION ARMY. "The . Salvation Army,',', says.the London limes, "which could give .lessons to any school or college of advertising, has, prepared a special and very effective means this winter in the shape of a book by Mr. Rider Haggard. It is '; called 'Regeneration,' is published by Messrs. Longmans, and it contains an account of the social work of the' Salvation Army in Great Britain. Mr. Haggard has visited all the metropolitan and many of the provincial institutions of that multifarious; organisation, and he describes and discusses what he " found there. It is a long list. General Booth "asks for £53,000 to carry them on. The publication of this interesting little book recalls the appearance of 'In Darkest England,' and the sensation which it caused.' * That was just 20 years ago. The comparative paucity of completely satisfactory results means that the Darkest England scheme was, as a scheme, impracticable. ' It was too sanguine; the task which General Booth set himself was superhuman. Ho probably sees that himself on looking back after- the lapse of 20 years. But that ' does not' make his work a failure. On the contrary, it is an amazing, one may even say' a stupendous, success. It has developed in other directions , and on different lines'. ■ To have built up this world-wide organisation, which encircles; the globe with a network of varied institutions, all engaged in active, helping, human work, holding out a hand to those who need it, men, women, and children; and to have done this through the power and on the basis . of a pure, Christian enthusiasm in these latter days of materialistic and rationalistic domination—such an achievement can only be called great. It is the work of a great man." '•