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 mismanagement that followed Faidherbe's rule in commercial and financial matters.

The want of financial success in her enterprise in West Africa is a matter that has constantly irritated France. She is continually saying: "English possessions on that Coast pay, why should not mine?" It is not my business to obtrude on her an answer, I merely dwell on the subject because I clearly see there are creeping nowadays into our own methods of managing Africa, those very same causes of financial failure that have afflicted her, namely, too high tariffs, too exaggerated views of the immediate profits to be got from those regions, and certain unfair methods of dealing with natives.

In attempting, however, to account for the trade from the French possessions in West Africa being proportionately so small to the immense area of country, the make of the country and its native inhabitants must be taken into consideration. Enormous districts of the French possessions are, to put it mildly, not fertile, and capable of producing in the way of a marketable commodity only gum, which is gathered from the stems of the acacia horrida. It is an excellent gum, and there is plenty of this acacia, and other gum-yielding acacias, but pickers are not so plentiful, particularly now French authorities object to native enterprise taking the form of raiding districts for slaves to employ in the industry. Other enormous districts, however, are as fertile as need be, and densely forested with forests rich in magnificent timber and rubber wealth. The inhabitants, a most important factor in the prosperity or otherwise, of West African regions, are varied, but roughly speaking, we may say France possesses the whole