The Express.
London, England, 1851-02-10 00:00:00

FRENCH BUDGET FOR 18.52.

On Friday, in the French National Assembly, the
Minister of Finance, M. Oerminy, presented the estimates
foe 1452, of which we now give a fuller abstract than that
which appeared in Saturday's Express. The minister
began by giving an expose of the financial situation
of the country. The deficit of 1849 amounted to
253.000,000 fr., to which should be added 6,000,000 fr.,
proceeding from the savings banks. That of 1848, at first
estimated at 72,000,000 fr.. and subsequently 19,000,000 fr.,
was finally reduced to 3,000,009 fr. In 18.51 the deficit of 1849
would, him the application of various resources, be reduced
to .i02,000,000fr. In 1850 the expenditure exceeded the
receipts by 12,000,000 fr.. to which the supplementary
credits voted by the Assembly added 50,000,0001 r. The
augmentation in the revenues, and the creation of new
resources by laws of the Assembly, had, however, brought
down the deficit to 13,000,000 fr. The extraordinary works
executed during that year had amounted to 105,000,000 fr.
The minister then observed that the results of 1851 could
only be matter for conjecture, all depending on the con-
tinuance of order and tranquillity. Anterior deficits, in-
cluding tho‘e of 1848, 1849. and 1850, would amount to
646,000,000 fr. In the opinion of the minister, the situation
would neither be endangered nor embaraund there-
by. To meet that deficit, the state possessed important
resources. The increase in the revenues, and the annulling
of several credit., should also be taken into account,
and he valued those items at 43,000,000 fr. The
government had, moreover, been authorised to soli
forest lands to the amount of 25.000,000 fr. The concession
to private industry of the Paris and Avignon and the
Western railroads, so warmly recommended in the Presi-
dentin! message of the 12th November, 1850, would, he
was certain, be granted by the Assembly, and thus enable
the government to realise important additional resources
to reduce still mote the above deficit. The floating debt,
however large its amount might be--577,009.000fr—was
not of a nature to cause uneasiness 01 apprehension. The
cash on hand in the Treasury or ;Bank of France exceeded
91,000,000 f. The loan concluded by his predecessor
would affonl 311.000.000 fr. of which 31,000,0000 fr. remained
to be paid. The debts of the ROllOl and Northern Rail-
way Companies would supply upwards of 40.000,000 WM.
In the floating debt figured the bonds of the communes
the deposits of the savings banks, Itc., for 364,000,000 fr.
That sum ass not likely to be withdrawn. The treasury
bond., amounting to 113,000,000 fr., on the othertern:ri
would In all probability he renewed, notwithstanding the
reduction in the rate of interest. There wan no danger,
, either, of the Bank of Prance claiming its debt, for the
I most profitable and mime sae it could make of its capital
was to loin it to the Treasury; M. de Germiay regretted
, the neseevity of suspending again, fa 1862, the assign at the
sinking fund. het eapressed confidence that the ordinary
•apanditeir•ii would he by the revenues of the State.
Ille then enumerated the modifications made in the esti-
mates of the different departments, sad estimated the entire
receipts at LW/AVIAN fr., and the expenditure at
1.314978i928 fr., leaving a Me" of 9,696,6710 Sr.