The Express.
London, England, 1861-11-15 00:00:00

FRIDAY EVENING,

I ATEST INTELLIGENCE.

FRENCH FINANCE.

The following is the text of the letter of the
Emperor Napoleon, a summary of which, re-
ceived by electric telegraph, appeared in last
evening's Express:

Palace of Campiigo., Nov. 12.

Monsieur le Ministre,—The opinion expressed this morn•
ing on our financial situation by M. Fould, in the sitting of
the Privy Council and of the Council of Ministers, has my
full approbation.
For some time past, as you are aware, my great desire
has been to confine the budget within stated limits, and
often,wheo presiding over the Council of State, I have ex-
pressed my desire to that effect.
Unfortunately, unforeseen circumstances and ever•in-
creasing necessities have prevented me from securing that
result. The only effectual means of attaining the end in
view is resolutely to abandon the faculty which belongs
to me of opening new credits in the absence of the Cham-
bers. That system will work without prejudice to the
state, if, after an attentive examination of possible eosin).
mica, a candid explanation of the real requirements of the
administration persuades the Legislative Body of the neces-
sity of properly providing for the different services.
I now therefore inform you of my intention to convoke
the Senate on the 2nd of December, to inform it of my
determination of relinquishing the power of opening, in
the interval between the sessions, supplementary or extra-
ordinary credits. That resolution will form part of a
Senatus-Coosultum, which, according to my promise, wit,
regulate by great sections the vote of the budget of the
different ministries.

In renouncing the right, which wu also even that al the
constitutional sovereigns who preceded me, I think I am
resolving on a worse useful to the good management of our
fiascoes. Faithful to my origin, I cannot regard the prero-
gatives of the crown either as a sacred deposit which can-
not be touched, or as an inheritance from my fathers which
must be transmitted intact to my sou. As the elect of the
people, and representing their interests, I shall always
abandon without regret any prerogative useless to the pub-
lic welfare, in the same way u I shall preserve unshake-
able in my hands all power indispcolable to the tranquillity
and prosperity of the country.
On this, Monsieur le Ministrc, I pray God to have you in
his holy keeping. NeroLgoN.
The Eruperoi'm letter to M. Achille Fould is as
follows:

Palace of Compi;tae, Nov. 4.

My dear Monsieur Fould,—You pointed out with so
much lucidity before the Privy Council and the Council of
Ministers a danger to my government, and you supportcd
your opinion by arguments of so convincing a nature, that
I am decided on completely adopting your ideas, and on
causing your rnemoire to be inserted in the Moisireur.
I accept your system the more willingly from the fact
that for a long time I have sought, as you know, the means
of solidly establishing the credit of the state, by con.
fining the ministers within the regulated budget. But the
new system will not work with advantage unless the man
who has been able to study profoundly all the difficulties of
it will resolve to devote himself to its execution. I there-
fore charge you with the portfolio of finance, and I thank
you for undertaking the teak, the results of which will be
favourable to the goners' interests. I am persutdcd that
in this new position you will not cease to give me, P. here-
tofore, proofs of devotedness and patriotism.

Receive, my dear Monsieur Fould, tbe assurance of my
sincere friendship, NAPOLIOI.

The report of M. Fould to the Emperor, which
was read in the sitting of the Privy Council and
of the Council of Ministers at the Tuileries, on
Tuesday last, is a document of great length,
occupying nearly seven columns of the Monsieur.
The report commences with a review of the ad-
ministration of French finances previous to the
Senates Consultum of December 25, 1862, which it
is now proposed to modify. The nature of this
Senates Collodium referred to is then described,
and various theories of reform are separately dui.
cussed and condemned. When, he says, the most
rigorous division of the budget by special chapters
was exacted, as from 1840 to 1847, the equilibrium
was not better maintained than it is now.

I have now before me an account of the supplementary
and extraordinary credits opened in those eight years.
They amount to nearly 1,200,000,030 fr., deduction
being made of the credits annulled, or about
150,000,0001 r. • year. It is true that the
years 1840 and 1841 required extraordinary expenses on
amount of the crisis occasioned by the Eastern question,
and that the budgets of War and Marine were exceptionally
bi3l2 in those two years. If we compare with
that period the eight years from 1851 to 1858, it
must be admitted that the expenses &ring the,
latter interval were more considerable, but ac
count must be taken of the Eastern war, which has
weighed so heavily on our finances. From 1651 to 1858,
the supplementary and extraordinary credits amounted to
not less than 2,403 millions, averai,ing 303 millions a year.
Deducting the expenditure occasioned by the war in the
East, which amounted to 1,348 millions, there will remain,
for the second period, 1,0C3 millions of supplementary and
extniordioary credits, or about 130 millions • year. The
justice of this comparison could not be fairly wailed by
objecting that the extraordinary expenditure of 1840.1841
modified its terms, for, as • compensation, the occupation
of Rome has, from 1851 to 1858. b :en an uninte.eupted
charge on our budgets. The difference between the two
periods is, moreover, in favour of the latter. It is partly
explained by the faculty of transfers from one account to
another, which existed from 1853 to 1856.

N. Fulda proceeds to state that he attaches
the greatest importance to the system of transfers,
the use of which must be re-established, though the
system has been so unfavourably viewed by the
Council of State and the Administration of Finance.
They will prevent, not only the opening of supple-
mentary credits in the absence of the Chambers, but
also the opening of extraordinary credits. He
continues :

The complaints made asallet the administration of or,
financed, and the experience of the last few years, have not
changed my views. I desire in 18.52, as I desire now, the
suppression of extraordinary and supplementary credits
apart from the vote of the legislature, for you- Majesty
will permit me to say on this subject all I think. The real
danger fur our finances is in the liberty which the govern-
ment possesses of decreeing expenses without the control of
the legislative power ; and as has been justly said, nothing is
more difficult than to struggle against the most legitimate
of desires—that of making useful expellees.
With a budget well arranged, and in which all the ser-
vices should be sufficiently provided for, the abandonment
of that prerogative won't, not present any inconvenience in
the despatch of public business. A great neighbouring
country has given the executive government the
latitude of disbursing any sum whatever without a previous
vote. and yet the special appliottion of the stuns voted by
the parliament is absolute. The number of chapters inscribed
is the budget is about 240. The Ministers of Marine and
War alone, on account of their services being disseminated
over all the surface of the globe, have the power of nicking
transfers, and those operations which must be submitted to
parliament are surrounded with excerively minute con.
ditions

In all countries where the representative system pre-
vails, especially in Belgium and Holland, the seine thins
occur,.

I seek examples which might be cited against my opinion;
I endeavour to figure to myself sudden necessities ; and I
do not discover a tingle objection which may not be easily
met. A public calamity occurs in the absence of the
Chambers—the funds of the Ministry of the Interior
and of the Ministry of Agriculture and Commerce are ready
to afford the first rundown by means of transfers. A war
becomes tieceseary ; the government can concentrate on •
single service the active forces of the Ministries of War and
Marine, the resources of which amount to no leas than 100
or WO minims per annum. Moreover, in such eventualities
the Emperor would hasten to convoke the Legislatiea Body,
and he might rely on its support, all the more absolute as
the occasion should be more urgent.

M. Fould proceeds to argue that the right which
the constitution has reserved to the Legislative Body
of voting the taxes is almost illusory if things are
to remain in their present state. " Might not we,"
be says, " question even the utility of discussing
the budget in the Council of State and in the Login.