The Sun.
London, England, 1855-08-01 00:00:00

THE FRENCH LOA Y.

The Moniteur publishes the following report
made to the Emperor by the Minister of Finance,
dated July 30, on the result of the late subscrip-
tion to the loan of 750 millions :

" Sire,—l am about to lay before your Majesty the
known results of the loan, the subscription to which was
closed yesterday afternoon at five o'clock. The infor•
mation which we have yet to receive will not modify
them in any very material manner. An ulterior report
will make known the definitive amount. Three hundred
and ten thousand persons have taken part in the sub-
scription. The sum subscribed will be about three
milliards, six hundred millions. The subs -riptions
of 50f. and under which have been declared as not
liable to reduction stand in the above sum for from two
hundred and thirty to two hureired and thirty-five mil-
lions. The subscriptions of 60f. and upwards, which
are subject to a proportionate reduction, will be about
three milliards three hundred and sixty millions. The
departments will have furnished nearly two hundred and
thirty thousand subscribers for an amount of more than
a milliard of capital. The foreign subscriptions from
different countries of Europe, such as England, Hol-
land, Germany, Belgium, Switzerland, &c., exceed six
hundred millions. Such results, Sire, eh' ch I am
happy to make known to your Majesty, require no
comment ; their grandeur, really unheard of, speaks
sufficiently of itself. In order to obtain them, it
has required neither sacrifices nor incitement. The
relative advantages offered to the subscribers were,
An fact, less considerable than in the two last
loans ; but this has not prevented the 310,000 sub-
scribers from offering nearly five times the sums de-
manded. All the efforts-of the Government have tended,
not to excite, but to restrain the eagerness of the pub-
lic. Thanks to the restrictive measures authorised by
your Majesty, the subscriptions for 50fr. and under will
only cover a part of the loan, and nearly 550,000,000 fr.
will remain to be divided amongst the larger subscribers.
Every one will, therefore, has e his share, as is just and
useful to credit. That share will be a little less than a
sixth of the sum subscribed. The deposits of the tenth
as guarantee, will, of themselves, alone form a total of
three hundred and sixty millions, exclusive of the sums
paid, by anticipation, of the further instalments. One
of the most remarkable characters of this extraordinary
manifestation is that so enormous a displacement of capital
could have been effected in so short a time, after two
loans so recently contracted, in the midst of foreign
complications, after the food crisis and the epidemic
through which we have just passed, without causing the
slightest perturbation in business, and without making
any change in the quotations of securities. Contrary to
what has been observed in all other loans, this one has
been ereeted by a rise in the price of rente, which from
65f. 90c. the price on the day before the loan was issued
has risen to the present price of 66f. 80c. In order to
favour this movement it will be desirable to re-
store to circulation as soon as possible the pait of
the capital paid into the Treasury, and which will
have to be reimbursed, in consequence of the re-
duction of the subscriptions. This operation will
be effected with the utmost possible celerity. Sire, the
financial operation which has just been accomplished,
and which is probably the most surprising that has ever
been effected at any period, or in any country, will en-
lighten those who still retained doubts of the force of
France, of the extent of her riches and of her credit, and
of the popularity which is attached in Europe to the
glorious enterprise which she is carrying on. This im-
mense co-operation of capital, sent from all countries,
furnished by people of every amo-int of fortune, will cer-
tainly be in the eyes of the whole world the most strik-
ing and the most undeniable testimony of the confidence
which the policy of the Emperor inspires both in France
and abroad.—l am, Sire, &c ,

" P. MAGNE."

ADULTERATION OF PO ,D.—Yesterday the committee
on this sujecti re-asiembled, and Mr. R.-dwood's exa-
mination was co'otinual, lie contended that there was
no ground whatever for the char/ 'es which had been
made against chemist.; and druggists, inasmuch as drugs
were more free from adulteration than any other articles
which were sold. •