The Express.
London, England, 1857-06-12 00:00:00

THE BANK OF FRANCE.

The Moniteur of yesterday contains an imperial
decree promulgating the new kw for the continuance of the
privilege of the Bank of Frame, as follows:
" Art. I. The privilege conferred on the Bank by the laws
of the 24th Germinal, yenr 11, the 22nd of April 1806, and
the 30th of June, 1840, the term of which would expire en
the 31st of Deimehor, 1807, is prolonged for thirty veers,
and will not end before the 310 of December, 1897. •
"Art. 2. The capital of the Bank, represented at present
by 91,230 shares, will lie represented in future by 182,500
plum., of the nominal value of I,ooof. each, not excluding
the reserve fund.
" Art. 3. The 91,250 newly eresic`d therm will be exclu-
sively assigned to the holders of the 91,1t50 share. now exist-
ing, and they will have to pay the peke of the mine, at the
rate of I,loof. per Mare, into the coffers of the Bank, in
quarterly instalments, within tLo term of onee year et the
latest, dating from the promulgation of the preseAt Live
" The Furey,' of the first payment and the conditions on
which the shareholders can Le permitted to anticipate the
further psynients will be fixed by a decision of the Bank.
" Art. 4. The produce of these new shares will be applied,
until the completion of the whole mount of 91,250,000 f., to
the formation of the capital determined by the 2nd article,
and as regards the purples, to the augmentation of the
reserve fund now existing.
" Art. 6. Out of the produce of the said shares a sum of
100 milliona will be paid in to the public treaeury in the
course of 1859 at sue l 'elle& es shall agreed upon by the
finance miniater and the Bank.
" This sum will be set apart for the diminution of deficits
in ihe Treasury.
The finance minister is authorised to came the insertion
in the great book of the public debt of the MO of Three per
Cent. !tenths necessary for rho employment of the said sum
of 100 million..
A sinking fund equal to one-hundredth of the nominal
emit.' of the said rentes will be added to the dotation of the
sinking fund.
" The mines will be trenaferred to the Beak of France, at
the average quotation of the month preceding each payment,
but this price mutt not be lower than seventy-five francs.
" Art. 6, Of the roues inscribed at the Treasury in the
name of the sinking fund Mock, and proceeding from the
coneolidation of the reserve of the sinking fund, there shall
be owed from the great book of the public debt a awn equal
to that of the rentee created by the preceding article.
" The mutes will be definitively cancelled as to capital and
arrears, dating from the day when the new rentes shell be
transferred to the Bank.
" Art. 7. The faculty accorded to the Bank of makinLat
ranee& on French public mock, on French railway
and debenture., and on debenture/ of the City of Paris, is
extended to the debentures Waled by the CrJclit Foneier
Company of Frame.
The general regulations touching the mode of carrying
out the preceding wegreph are to be approved by a decree.
" Art. 8. The Bank of France, should eireunistancee
require, may raise to above 0 per cent. the scale of Rediscounts
and the interest on its advances.
" The prate seeruing to their:tank from the exercise of this
power will he deducted from the sum yearly divided among
the shareholders, and ere to be added to the joint-stock
hind.
" Art. 9. The Bank of France will be allowed to reduce to
50fr. the minimum amount of its notes of iesue.
" Art. 10. Ten mere lifter the promulgation of the present
law, the government may require the Bank of France to
establish• breech bank in the departments where nom
mine.
" Art. 11. The interest due from the Treasury on its run-
ning account will be regulated after the scale fixed by the
Bank for the discount of paper In the market, but must not
exceed 3 per cent.
" Art. 12. Aregulation of the government will determine,
with respect to such shareholder* (113 are incapable of paying
the whole or their mean, what mesenree shall be requisite
for the execution of the present law."