It was gratifying to me to hear him express so much good will, for it was evidence of the attachment which the French people feel toward those republican principles of government which they have established by so much struggle and sacrifice.

Municipal ownership has not made as much progress in France as in England, although most of the cities now own their water works, and some of them their lighting plants. The railroads are nearly all owned by private corporations, but they operate under charters running about 100 years, half of which time has now elapsed.

According to the charters, the government guaranteed a certain rate of interest on the investment, besides a certain contribution to the sinking fund, and at the end of the charter the roads become the property of the state.

Although it is nearly fifty years before the charters expire, the course to be adopted by the government is already being discussed, some insisting that the government should take over the roads and operate them—others favoring an arrangement that will continue private operation, although the government will be the owner of the property. The same difference of opinion to be found in our country is to be found here, and some of the high officials are strongly opposed to the government entering upon the operation of the roads.

President Loubet spoke with evident gratification of the general diffusion of wealth in France. He said that they had few men of large fortunes, but a great many men of moderate means, and he felt that the republic was to be congratulated upon the fact that the resources of the country are so largely in the hands of the people.

He explained that the government loans were taken by the people in small amounts and subscribed many times over. Very few of the bonds representing the French debt are held outside of France. The debt furnishes a sort of savings bank for the citizens, and their eagerness to invest in "rentes" (the government bonds) is proof of their patriotism as well as of their thrift.

I heard so much of the French peasant, that I devoted one day to a visit into the country. Going out some fifty miles from Paris I found a village of about eighty families. Selecting a representative peasant, I questioned him about the present condition and prospects of the French farmer. I found that about three-fourths of the peasants of that village owned their homes, but that only about one-fourth owned the farms they tilled.

I should explain that the French peasants do not as a rule live upon the farms, as is the custom in the United States. With us, whether a farmer owns forty acres or a quarter section, he usually lives upon the land, and the houses are therefore scattered at intervals over the country.

The French peasants, on the contrary, are inclined to gather in villages, most of them owning their houses and gardens, but going out into the country to cultivate their fields. Sometimes a peasant will have a vineyard in one direction from his home, a pasture in another, and a wheat field or beet field in yet another direction.