The Express.
London, England, 1849-11-16 00:00:00

FRANCE.

M. FOULD'S FINANCIAL STATEMENT.
PARIS, TIIUUDAT, 6 30 P.M.
M. Fonld's project of law, of which I gave you an
outline yekterday, embraces six new projects which
modify M. Passy's scheme.
The project of an income-tax is withdrawn, sod
Ithe exam on drini's retained during 1850. The
means proposed to fill up the deficit seem, however,
unlikel) to meet the object to be attait.ed ; they con-
sist in reducing certain expenditure and increasing
certain receipts from taxes alreadj, eirsblished, and
this to be done by re-organising thirr sj stem.
M. Fould, in presenting his financial statement to
the Assembly, spoke to the following effect:

" Gentlemel,—The Assembly and the oountry 'erect that
W new cabinet should explain vieween the situation of the
finances, end on the system which it proposes to adopt for lie
administration of that important br.schi.l the public service.
It is a duty for us not to delay making :hit aratement, and
:hat du e I em here to perform. If good political conduct
ensures wood finances, these latter have as. , at certain pe-
riods, an iscuntestable influence on the paltry of a guvero
meet, and they may powerfully contribute to cessoliOst• so.
cial order, or teal by =direst mesas to the destruction of the
bases ea which it repeats. In these latter days considerable
efforts have been CCSIIII to modify and destroy the system of
oar taxation. Attacking by turas all our indirect taxes, the
c=so sang did not conceal their object, which was to
a pretended inequality in the public charges; they
skald at displacing the general burden and throwiug it on ea-
pital and landed property. These efforts soon produced their
offset; they alarused the country and destroyed naafi fence—
they checked business—and gave a dreadful blow to public
ea p. irate fortune. Bach a line of policy cannot be buis.
The new government repudiates such theories. In its opinion
the financial organisation of France, which goes back to
the first republic, end ow.' its wise and firm constitution to
the immortal author of our codes, is in harmony with the
habi-s, institutions, and wants of our society, such ias it has
sued from the revolution of 1789. In that system, pro-
p. nay b lag accessible to all, end being divined squill,
anansgst tho numbers of families, a fair balance is est e-
blished in the general tization. The lands I prcprieton
are not freed nom the itidi-act taxes, and these latter, in
weighing on the generality of the nation, eau.* all the
ciiimns to contribute to the expense of the adminietratioa.
We desire to =anemia strictly these fun Lemmata,
principles, at the same time that we introduce such
ameliorations as ezperiecee may point out as necessary.
We hope, by certain modifications in our indirect tax a, to
obtain more coesi lerable recipts. That result will a...Mit
se to alleviate certain sufferiner, and give sati,faction to well.
founded complaints. In pursuing that end, whiat is at
present the object of our studies and of our if ins, we sh
net lose sight of the feet, that it is th.• interest of all to ding
sigh the charges, which, weighing too heavily on land, keep
down the development of its ageituhural produco. We will
thus restore Won to the country, profoundly disturbed for
nearly two years by violent attacks in the rusts, and by the
s d Si ersive i6as which endesvoun Lin: been made to instil into
our instit o imp. We shall now, gentlemen, ezp..se to you
the 'deistic s of the budget, the wanted the treasury, nod the
means by which we propsee to provide for them. The
defloits" of the budget, as you are aware, are the principal
cause of the floating debt, and call for your special atter,
bon. The old " &tens," from 1814 to 1847, set down
in the last fins stay tab.es at 227,6.56,360 Vance, einuot
have vaned since the publication of that document.
It is not so, however, with r. spree to the year 1818,
The situation has improved sines my honourable predeci
tor estimated its dethiency at 72 millions. Oa the ono side,
as Increase of 20 millions realised on receipts, and on
the other, a dimiewion of 33 millions in caresses, permit as
to value the deficit of that year at the reduced amount of
19,129,9411 r. Our cape-tallow relative to the budget of
1849 were, on the contrary, far below the results known.
The supplementary credits wed, or to be voted, by the
Legislative Av.embly, show the different.e between the to -
;pipes and expenditure io be 287,617,493 fr. The whole of
the della s tor which the treasury has had to provide for
Will
previous to tie budget of 1849 amount to 634,463.,7761t
Will the year 1860 modify that situation? We shall *Rimier
that point in • few words. In the statement of the budget
for that year my predecessor s.il that he expected
an excess of 7,044,6321 r. To arrive at that result he
had recourse to the following means. He proposed to annul
the leads purchased by the sinking fund, or pr iceeeing
hem the esasolidation of the I reserves ; the main-
Panes of the excise on drinks, the crea.ion of certain new
taxes, and, above all, an income tax; the reparation of the
ha lget of extraordinary works ; and the institution of a spe-
cial service to meet them. The act relative to the ream f
Wanking fend has our full approval. In this wren the
latest of the treasury and that of the matters are identical.
It is important for the latter that the treasury should be freed
from overloading its Grand Lirre in order to preemie re-
source.. Whatever may be the desire of the new govern.
aunt to remove the burdens which weigh an tan-payers,
we are wader the palatal amessity of demanding, as our
predecessors did, from the intelligent patriotism of the As-
lambi, and of the country, and even nom the devotedness
of the interests most concerned, the maintenance of the
maim on drinks fur the year 1850. ((Loud murmurs oa
the Left, approbation on the Right.) But by • bill which
we are about to present to you, we shall propose to you
M same a special committee of inquiry to examine the
queslion, and the vices said to exist in the mode
of collection. (Reeewed disapprobation on the Left )
That is cos of the difficulties to remove which
the op-operation of ell opinions and talents is indispen-
sable. The teak falls alike within the sphere of your
duties sad your atuilmitioas, and we trust will put an
end to the present imperfections of the system. We with-
draw the bill to astablbh an income-tax. (Renewed move-
ment of di-approbation on the Left) That tax, the bat
resource of embarrassed governments, is in i a nature arbi-
trary and inquisitorial. Besides, these incomes, widolt have
lately suffered so seemly, ere already affected by means of
the limpid manlier, the tax on patenles, and the land-tax
The Let-named tax, which is so heavy in the present date of
things, would, if the iscomPtax were established, be in-
n/need by nearly 20 esatlates added to the prin-ipal. In
ad.:lido& to this • generalfeeliart of uneasiness, resulting from
them taxes being put in vigour, would lead to concealment
of incomes, the withdrawal of capital, and • reduc-
tion Ia Me expenditure of iedivoluals. These cir-
cumstances will explain the opposition of the councils-
peered, the legitimate oegaas of the feelings of the country.
sail had se to hope that you will approve of our withdrawing
• tax, a matinsl champ in which appears moreover to have
been already consented to by my honourable predeessear.
Bet the prods,* of the Means-tax figures for the sum of 1110
in the ealealatices of my predecessor. That mown
mast be replaced, salon we wish to see the year 1860 o-
dime a new deficit to be added to the fluting debt. Y. u
will be happy to learn that we are senfident of beieg ele to
accomplish that result by means of divers savings, and by
an lactase of receipts resulting from the remodelling
of certain toes. The Minister of War has a plan
by which the supplementary credits, which might have
amounted to 30 or 40 millions, will be avoided. He his
besides laid before the committee of the budget measures by
which expiates wiil be diminished by 8,500,000 francs
at least, and by 16,000,000 francs if circometances permit
the speedy return of our army from R me. The Minister of
Marine proposes a reduction awn millions, and the Minis-
ter of the Interior, by the reduction of the garde mobile, one
of 2,500,000 fr., and in the fund to foreign refugees 300,000'r,
independently of other reductions which the cabinet before
tear, we trust, will he able to effect, not only in the minis-
teeW which I ham just named, but in the otter
services of the state. The Assembly will, however, under-
stand that we have sot yet been able to make very minute
examination UM this subject. We propose to you some
modifications of the law on the registration dues, which, by
ruttiest teem more in harmony with the pre at state and
vane of thine., will produce an increase of receipts of about
28 mallow In tine, a 1.111.11W11 which will have for object
to simplify the post-offies regulations without weakening the
principle of the uniform duty, and without increasing the
charge of free-paid lettere, will give us an increase of nearly
seven millions. We shall arrive by all theta means, by com-
bining them with the sever millions of surplus announced in
the report of M. Pony, to produce an equilibrium in the
year 1860, notwithstanding the withdrawal of the
Income-tax. This balance will not be changed by
some modifications in the law on patentee. These
changes, in extending the circle of the tax- payer% will
have the effect of emitteles the tufa of the last classes.
Pre elag wants may minim the mom Mr the year, but if we
mewed is mialatsimins that geese, order, and security,
iffitide the owsmtry boo esjoyed foe seam time past, we may
misshile that tho reessmoso of the budget will increase in a
greats goagoodas than the e Ths first ten month'
of 1840 poems. over those of 444, is the Indirect tams, a
realised simmleips af soul, SO sad that increase is
irrh'lst &ems* of Oeleber lima la that samosas
po,«•*. Alm the &sae shirk had disturbed the
mammy this rook Is maidester y, and renders the amessity
grader some eppeasaLusZlEstehe intimate oaks shish
mita halms asilissoral presperiby. We
may thamhos 511:bst the 011160 will set Whom
the se swiss drivits. The estroordisary yob vein
carried by my hesourablo
We slot list deleitm., C=ll.6ellistbestisgegais
br tie mos% pleb OAP wq Ida judo alo
leeembil hew *en sea ohs mom el The
saw was ea Idiot we mettle ibe easemies of railways,

PARIS, Nov. Is. For ~ For Amount.
Money. ; Opening Iligheet. Lowest. Closing
-- --,
II per Cents. ....... 57 0 57 40 , ~ 36 93
3 per Cans—
-3 do. New Lain , „ 0 0
0
44 per Cents._ .. 79 0 a 00 0
4 per Cents 69 SO " 0 "
Exchange on Lon,bn; 30 dos, 25 331; 90 Glass, a 40.
Iledgi.c., 5, 1110
LW 3, 1642
Do. ~ 44
Do. 24
Bank Shang nu
- - ---- --

Botnaa Paris and Orleans, 737 50; Paris and lone% 4123;
Bann and Havre, —; Avignon and Marseilles, 221 SO; Stns.
Vand Bale, 163 IS ; Cadre (Viersem), 300; 8070011104
S; North, 440; Paris and ihrubeerg, 737 SO; Tmun and
Nudes, 231 23; Montana and Troyes, 112 50; Venal's, right
bank, 21127 ; Versailles, lett ban, 170.