The Sun.
London, England, 1862-02-10 00:00:00

THE LAST FRENC,Ii FINANCIAL

DEVICE.

(From the Hone; Market Review.)

It can hardly be said that France has taken the
world by surprise in coming to our market once
more for a temporary loan, for people have become
so used to the shifty character of the Imperial sys-
tem of finance that nothing of the kind astonishes
them. We are in an age of forty million deficits,
and surprise is a worn-out sensation. True, it is
suspected that this huge deficit is merely shelved
to a convenient season, and not permanently settled
or disposed of. It is comprised in the hocus-pocus
,wherein the French officials delight, the most suc-
cessful and esteemed Minister of Finance being he
who can best throw such a quantity of dust into
the eyes of the public as to bewilder them, and com-
pletely incapacitate them from understanding the
real position of affairs. That forty-million deficit,
we repeat, is merely staved off—thrust on one side
into pigeon-holes and elsewhere, whence it will de-
scend with accumulated weight upon the head of
M. Fould or his sucessor. Is it p c shed partly into
the floating debt ? Surely the amount of that
debt was large enough before—certainly larger
than the Government could conveniently float, or
themarket conveniently bear. Has advantage been
taken of the Government control over tension and
other funds to stick floating securities into them,
a la Busse ? What other devices have been resorted
to? One thing only is certain—that the forty-
million deficit, lately acknowledged with an affec-
tation of frankness which proves to have concealed
an intention of getting a new loan in disguise, has
never been honourably settled.
The shifts pursued with regard this deficit, and to
the handling of the floating debt, have lauded the
Government in the quagmire of absolute pecuniary
embarrassment, to relieve which:they have turned
to our market in an unusual and by no means credi-
table manner We se it is studiously explained
some quarters that the offer of a loan of X 2,000,000
or £4,000,000 for three or six months came from
bankers on this side, without being solicited by the
French Government, but the public are not quite so
simple as to be deluded by so transparent a device.
It is observed, too, that offers to the extent of
£4,000,000 have been sent to Paris, and a pretty
little picture is suggested of the French Minister
(his empty coffers apart) deliberating whether he
shall take the £4,000,000 or be content with half
that amount. Probably, observes a contemporary,
he will consider himself " bound" to accept the
larger sum. We will be bound he will.
The suspicious reduction in the rate of discount of
the Bank of France from 41 to 4 per cent, directly
it was known that this little affair had been
satisfactorily arranged in London is interesting
as betraying the Government dictation to that
establishment, but will imp •ose on no one.
The rapidity with which the loan is to be paid up
(see our " City Article") indicates that the French
Government both want and mean to have the money.
Accordingly, the financial classes here are already
setting their house in order. The prospect of a
draught upon our stock of gold, and of a speedy ad.
vance in the rate of discount of the Bank of England
from 21 to 3 per cent. (if not to 31-), is already in-
ducing holders of money to raise their terms. The
demand at the Bank of England is likewise ris-
ing, and the resources of that establishment are
diminishing. Let us not be misunderstood. The
commercial and financial position of this country
is too sound, and the avoidance of foreign
commitments has been too strict, to admit
of uneasiness respecting the future course
of the money market. All that need be appre-
hended at present is a very moderate rise in the
value of maney from its present level, which rightly
viewed, is too low to be permanent, since it invites
every kind of borrower to come and put his hand
into our purse. A somewhat higher rate of interest
will be more likely to prevent future inconvenience.
It will probably prove, therefore, that a moderate
increase in the value of money will have a beneficial
action. But we shall pity the French Government
when they have the task of remitting back to Eng-
land the money which they are now borrowing for
an unscrupulous purpose—namely, that of putting
a false face upon their credit at home. It is pro-
bable that the exchanges will be " made very plea-
sant" to the Emperor when he is required to honour
the bill which our capitalists will hold against him.

SINGULAR AND FATAL ACCIDENT.-011 Saturday
afternoon Mr. G. S. Brent, the deputy coroner for West
Middlesex, held an inquest at the Marquis of Granby,
Green-hill, near Harrow, on the body of James Bodymeade,
a youth of 18 years of age, whose death was caused in the
ollowing manner. It appeared that on Monday last the
deceased was viewing the operations of his uncle, ,who was
removing some fallen trees on the estate of Mr. Foulger, in
the immediate neighbourhood, when the accident occurred
which deprived him of life. The trees in question were
blocking up the carriage drive, one lying across another.
Horsns were yoked to the upper tree with the intention of
drawing it off the under one, when, contrary to expectation,
as the traction power was put on, the under tree rolled, and
knocking down the deceased, completely flattened his body
and fractured his skull. He was picked up with blood
issuing from his ears, but remained sensible nearly until
death, which took
place on the following day. A verdict
of " Accidental death" was recorded.
Amongst the recent arrivals at Alexandria from
Australia we find the name of Mr.WilliamYounghusband,
of Adelaide. This gentleman lately occupied for a con-
siderable time the important colonial position of Premier
in the South Australian Ministry. He is also well and
favourably known for his public spirit and enterprise in
opening up and promoting the navigation of the River
Murray, having with his family accompanied Captain
Cadell upon his first expedition, and succeeded in steaming
1,500 miles up the river. The importance of this enter-
prising undertaking is beginning to be acknowledged and
appreciated, not only in South Australia, but also in the
neighbouring colonies, whose commerce will eventually be
so largely benefited and developed by means of the commu-
nication with the interior now established on this the
only real river and extensively navigable watershed of the
Australian continent. We doubt not that Mr. Young-
' husband, on his arrival, will meet with a friendly welcom
from the many Australians now resident in England.
Miss Grace Wharton, one of the authors of
" The Queens and the Wits and Beaux of Society," has a
new work in the press on " The Literature of Society, with
an introductory chapter on the Origin of Fiction."
The new theatre at Baden-Baden will be inau-
gurated with a new comic opera, in two acts, by M. Berlioz.
The plot, also from the pen of the composer, is taken from
Shakspere.
”
Meyerbeer's opera, "Les Huguenots, which has
.for years past,
been performed in every European capital
was represented in Naples, for the first time, a week or two

since.
LIFEBOAT SERVICES—DROGHEDA, Feb. B.—yes_
terday afternoon the brig Minerva, of Workington, struck,
during some heavy winds from the east, on Drogheda Bar
The lifeboat of the National Lifeboat Institution was imme
diately launched to her assistance, and succeeded in rescu-
ing her crow of four men, and afterwards landing them in
afety.

How many times (says the Illustrated News)
have we laughed, even to the aching of our sides, at the
merriment of 6, Mr. Love, the Polyphonist," the inimitable
who could fry eggs and bacon to the life be-
hlntriditheclusitcsene, and make the black boy draw a cork in a
cellar 10 feet below the level of the stage, and all without
moving a facial muscle ? It pains us to hear that the old
friend of our schoolboy days is sick, and well nigh paralysed,
and poor. Mr. Greenwood, of Sadler's Wells, is organis-
ing a benefit for him. Au active committee has been formed;
and due notice will be given of the benefit coming off in
our dramatic column. Let us support the poor old Poly-
phonist, for it is good in middle age to remember the "Love
of our youth."

SUN OFFICE, Seven o'clock.

TATTERSALLS'-(T1118 EVEAING),

LIVERPOOL STEEPLECHASE.
10 to 1 agst The Dane (taken)
13 to 1 agst Huntsman (taken)
16 to 1 agst Thomastown (taken)
100 to 6 agst Jealousy (offered)
20 to 1 agst Tippler (taken)
CHESTER CUP.
20 to 1 agst Zodiac (offered)
22 to 1 agst Vest colt (taken)
25 to 1 agst Schism (taken)
30 to 1 agst Hadji Stavros (taken)
33 to 1 agst Chere Arnie (taken)
33 to 1 sgst Agag (taken)
40 to 1 agst Weasel (taken)
40 to 1 agst Pagoda (taken)
40 to 1 agst Fairwater (taken)
NORTHAMPTON STAKES.
20 to 1 agst Panique (taken)
25 to 1 agst Wildman (taken)
TWO THOUSAND GUINEAS.
3to 1 agst Old Calabar (taken and offered)
9to 1 agst Marqu's (taken)
12 to 1 agst any other (offered)

THE DERBY.
Bto 1 agst Old Calabar (taken)
Bto 1 agst Buckstone (offered)
22 to 1 agst Ensign (taken)
25 to 1 agst Typee colt (taken)
40 to 1 agst Genise (taken)
40 to 1 agst Neptunus (taken)
40 to 1 agst rolurno (taken)
40 to 1 agst Zetland (taken)
60 to 1 agst Vanguard (taken)
1000 to 10 agst Lord Burleigh (taken)
1000 to 10 agst Laughing Stock (taken)

IMPE DIAL PARLIAMENT

HOUSE OF LORDS—This EVENING.
The LORD CHANCELLOR took his seat on the woolsack
to the usual hour.

POLAND.

The Marquis of NORMANB Y presented petitions from
Nottingham and Bolton, expressing sympathy with Poland.

IMPRISONMENT OF BRITISH SUBJECTS,

The Earl of CARNARVON said he was most anxious
to put a question to the noble earl opposite, relative to the
notice which he had given him previously. On
Friday last he had referred to the imprisonment of
a Canadian subject, under a warrant from Mr.
Seward. Since that day he had I?srned that
three other Eritish subjects, had been detained in a
Federal fortress, and that alt liberation was denied until the
oath of allegiance to the United States was taken. He
thought if such was the fact the Government ought to take
the most energetic steps to prevent such seizures for the
future. The names of two of the parties were Charles
Reed of Savannah from Liverpoool, Andrew Low, and an-
other person, whose name he did not at the moment
remember.

Earl RUSSELL said he could not take upon himself
to say, as the noble earl opposite had done, that the Ame-
rican Government had acted altogether in a n illegal manner.
In cases of emergency like the present, the President of
America had claimed to be armed witit great power
with respect to the arresting of persons supposed to be
engaged in treasonable correspondence witii the Confede-
rates. He had not learned that personal ill-treatment had
been offered those persons, neither had all access to
them been refused. They were suspected of
having been in correspondence with the South,
and an investigation would of course take place, as Lord
Lyons had been in cornmunicationiwith Mr. Seward, and
the noble earl might be satisfied in every case in which
the attention of Lord Lyons was desired, and in which it
was found there was reasonable ground for interferenc3
that assistance would be given in the west prompt
and energetic manner.
{LEFT SPEAKING ]