The Express.
London, England, 1851-02-15 00:00:00

FRANCE.

PARIS. Tv!snAY Evrwrso.
It is reported from good sources that M. de Castel-
bajac, the French minister at St. Petersburg, has
been recalled, and is to be replaced provisionally by
M. Merei; that General Auptek is to go as ambas-
sador to London; 111. His. de Butenval to Constan-
tinople ; M. de Lavalette to Turin; and M. do
Morny to Madrid; and that M. de Ilourgoing is to
he placed on the retired list. It is added that M.
Dubois do Saligny has been recalled from the

..,
Hague. .
The Moniteur contains the bill drawn up by the

Conseil d'Etat on communes.
The reaction which set in the day before yesterday
at the Bourse has continued to-day, in a measure still
more sensible. he Fives closed at 95.50, with a full
of 30c. on yesterday-. This decline of securities was
attributed partly to some cries of " V ire l'Empereue."
" A has l'Aortemblee !" uttered by the considerable
crowd which gathers daily about the Ely-see to watch
the egress of the President. Another motive assigned
wan the article which has appeared in the Debols,
respecting the entrance of Austria, with all her states,
into the Germanic confederation, notwithstanding al-
leged protests on the part of France and England.
The proposition of M. Creton, for the repeal of the
laws of proscription against the Bourbons,
_begins to
be talked of again as likely to be presented without
delay.
TO-day the Assembly adopted, without diseu,ssion
of any interest, the law of supplementary credits, the
debate on which began yesterday. The house then
passed to the law of mortgage-reform.
The debate of yesterday in the Assembly was
highly instructive, not only as to the real state el
Fieneh finance, but as to the artifices adopted by
plausible ministers to give their annual statements
the varnish of a prosperity which they are really far
from possessing. On the 7th inst. M. de Germiny
came forward with the budget for 1832, which IL
Fould had left all ready in his desk. On the same
day, M. Etienne prevented the report of the com-
mittee on supplementary credits. No two views of
the same object can be more opposed than those
taken by the minister and by the reporter of
the financial state of France. M. Fould
sees all en couleur de rose, M. Etienne
en WWI. In the meantime the able speech of M.
Pussy sets all in its fair light. The moral of his
conclusion is, that if a free rein be given to such
illegal and irregular operations, as those of which
M. Fould has been guilty. the inevitable result mutt
be a deplorable state of financial confusion. Fould
justifies his operations by their success, which is no
answer to the charge of illegality. The reporter
estimates the probable deficit of the budget of 1850
at 79 millions. M. Pussy states that a later exami-
nation demonstrates that the real deficit is 91 mil-
lions. The excess of the estimate of the ordinary
expenses over that of the ordinary receipts was 12
millions. The unprovided expenses of extraordi-
nary public works amounted to 91 millions. Add
to these sums 32 millions for supplementary credits,
and we get a total deficit of 135 millions. prom this
sum two deductions must be made: one is the excess
of the real over the estimated receipts, amounting to 25
millions. The other deduction is 38 millions, re-
sulting from the sale of the rentes proceeding from
the liquidation of the savings banks and from
the Lyons Railway. effected on the 31st Dec. last;
whence M. Passe concludes that the real deficit
amounts to 91 millions. This would coincide with
the deficit announced by the government but for two
circumstances. which need explanation. In the first
place, M. Fould has applied to the reduction of the
deficit of 1850, 15 millions proceeding from the sale
of bonds of the Rouen Railway, which he had no
right so to sell or to apply without the authorisation
of the legislature. In the second place, M. Fould
had neglected to apply to the reduction of the same
deficit the 38 millions proceeding from the sale of
rentes, which he was bound according to the law of
the budget so to apply in its totality, whereas he
had only applied 9 out of the 38 millions to
that object. If the deficit is not more con-
siderable this result is due to the sale of these
rentes. But thereby the floating debt has been re-
lieved at the expense of the consolidated debt • for
by the sale of the rentes the state is now obliged to
pay annual dividends to the amount of two millions,
which before were saved to the treasury. Then,
again, the revenues of the sinking fund, the action of
which is now stopped, amounting to 71 millions,
have been applied to the reduction of the same de-
ficit ; and, besides this,other extraordinary resources,
amounting to 13 millions, consisting of ten millions
proceeding from bonds of the Northern Railway, andl
three millions from the arrangements made with re-
gard to the inheritance of Madame Adelaide. Thus
the state expends in reality at least 150 millions a
year above the sum furnished by the regular and
permanent sources of revenue.
"One of the principal coach-makers of Paris," says
the Patric, "has just received an order from the
Egyptian government to build 50 diligence-omni-
buses, for the transport of
.passengers across the
Desert. These carriages, which are to be constructed
on a new model, will combine comfort and solidity.
The line which they will have to serve has been
completely established, and the number of travellers
which take this route to India considerably increases
even year."
The metallic reserve in the Bank of France has
increased 41 millions in Paris, and nearly I in the
provinces. The discount-accommodation has de-
clined 11 millions in Paris, and 31 millions in the
branch-banks, the amount of the former being
58,679,639 fr., and of the latter 83,667,098 fr. On
the side of the liabilities, the notes in circulation
have inarsmsd 2 millions in Paris, and declined 1}