The Northern Daily Times.
Liverpool, Merseyside, England, 1857-05-26 00:00:00

FRANCE.

PARIS, EVENING.
The Emperor and the EmpressSUNDAY were to return
on Sunday to Paris from Fontainebleau, which their
guests had already left on Saturday. The great
military review in the Champ de Mars, which was t(
have taken place yesterday in honour of the King
of Bavaria, has been countermanded, on account,
is said, of the excessive heat. The terms in whici
the .3foniteur announces it are rather singular ; fo)
it simply says, that the announcement of such
review was wrong, and that nothing of the kinc
will take place. Prince Napoleon arrived in Paris
on Saturday evening from Germany. Baron Gros
whose commission bears the significant title o
Extraordinary Ambassador of the Emperor Napo leo'
to the Emperor of. China, has left Paris for Toulon
where he is to embark in the steam frigat(
Audaeieuse. It is most decidedly expected tha
he will be received at Pekin, and that thus France
will again have au opportunity to act as mediater
between two important belligerents.
It is now certain that Count d'Argout will with,
draw from the direction of the Bank of France
According to some M. de Parieu has already beer
designated as his successor, his manner of finan
cial argumentation in the course of the privat(
deliberations which t3ok place at the Tuileries, or
the tax on the transfer of securities having made f
particularly favourable impression on the mind o
the Emperor. There are other names Mentioned
however, 'as, for instance, that of M. de Germiny
at present director of the institution of credit or
landed property, and that of M. Andouiller, a gem
tleman who has not yet appeared in any prominent
public capacity.
Whatever the abilities of these gentlemen ma 3
be, this much is certain, that they will not be abh
speedily to cure the disease of the Paris money
market, which has gradually grown to a really
frightful extent. In fact, it will not be cured at all
if the mental disease be not cured, which is the only
fit name for the absurd and puerile notions which
prevail with the bulk of the people and leading
financiers, in France and elsewhere, on all ques.
tions connected with the money market. " Maudit
argent," exclaimed Bastiat, with perfect reason.
meaning, not the influence of money, against whici
sentimentalists declaim, but the confusion whit]
the indiscriminate use of the words " money" ark
" capital," common to the whole mercantile work
of Europe, creates in peoples minds. Is
hope to be entertained of improvement, tha
is to say, of saving, when your Rothschild'
and Pereires makes fools of themselves, by se
riously giving in their adhesion to a measure lik(
that by' which the renewal of the Banl
charter is accompanied, as one likely to benefit corn
mem by inducing a more easy stag of the
money market ? Just consider its main provision
It amounts to this, that the Emperor says, " Yoe
are in want of money? Go, then, to your share
holders ; take one hundred million francs mor,
from them, and afterwards give the money to me
and you shall have my I 0 U."
With respect to this subject it may be mentione(
that the bill for the renewal of the charter wil
not pass the legislative body without some oppe
sition. The committee elected by that bod:
to examine the proposition have already resolve(
to recommend some important changes in it ; for
example, that the treaty shall be open to revision
twenty years earlier than is proposed, namely, is
1877 instead of 1897. Further, they will deman
that a net 15 per cent. shall be set aside from th
profits to increase the capital. But the most im
portant alteration is, that the two hundred million
to be transferred as equivalent of the loan to th
Bank, shall not be so transferred at the price c
75, but at 85. This is bargaining rather hard.
wholesome recommendation of the committee i
that the bank may discount bills having less tha
90 days to run, but on the other hand, it is dal
gerous to recommend that it may be likewis
allowed to discount bills of longer date ; na:
bills it seems having an indefinite period t
run. The coupons of the billets de banque are t
be brought down to amounts as small as 50 franc:
After ten years a branch bank must have bee
created in every department. The billets de banp
will have to pay, according to the committee, a to
of 12 cents. for every 100 francs, and the intereE
of the current account of the Treasury is never t
be higher than three per cent. The committe
have first submitted these proposed alterations t
the Council of State, but it is very doubtft
whether the Council will endorse them.
_ _

The Monitear de 1' Armee states that the exp(
ditionary corps destined for Kabylia will be divide
into three divisions ; the first commanded by Ger
eral Renault, with Generals de Liniers and Chapui
at the head of each brigade ; the second by Generi
MacMahon, with Generals Bourbaki and Perigol
and the third by General Jusuf, with General
Gastu and Doligny. Each division will consist
8,000 men, with artillery, engineers, and th
necessary administrative services. In addition,
column of cavalry will be collected in the valley (
rebaoa, composed of four squadrons of the 1,9
Segiment of Chasseurs d'Afrique and five platoon
of the Ist regiment of Spahis. The operations wet
to commence on the 21st.

RATIFICATION OF THE TREATY WITH

PERSIA.

The Nord of Brussels publishes the following a
a telegraphich despatch from Constantinople
dated the 22nd inst. :
An attache has arrived here, bringing with hit
the treaty of peace between England and Persi:
ratified by the Shah without any condition what
soever.