The Sun.
London, England, 1862-01-07 00:00:00

* Has been only one year and a half at the College.
t Has been but one year at the College.

BULLION AT THE BANK OF FRANCE.—The finan-
cial advices from Paris state that the bullion at the Bank
of France has increased £240,000 since the last published
statement, and that the commercial payments at the end of
the year were, on the average, fairly made. The Bank of
France discounted in the last two days £2,120,600. The
rate of discount out of doors is 4/ per cent. for first-rate
paper, but the smaller trades find it difficult to obtain money
at from 6to 7 per cent. On the Bourse the average rate of
continuation is, exclusive of brokerage, 4 per cent. per
annum, although on some securities, particularly foreign
shares, including brokerage, the borrower pays between 6
and 7 per cent. The amount required by the French rail-
way companies for the year 1862 is from £14,000,000 to
£16,000,000, being rather less than the sum raised last year
The total required to finish all the lines con-
ceded up to the present moment amounts to
about three milliards of francs. It is hoped that the
Government will see the necessity of spreading this over
at least 10 years. It is difficult to specify the sum required
during the present year for continuing public works and
buildings in Paris ; but certainly £2,000,000 is within the
mark. Foreign railways conceded to French companies will
require this year at least £10,000,000. The Italian Loan,
which was principally subscribed in Paris, will also absorb
£10,000,000. Estimating together with these sums the de-
ficiencies of the State, it is seen that the engagements for 1862
are heavy. "Nevertheless," it is observed, "they are
smaller than for the past years, and by no means alarming
should the political state of the country be satisfactory!
These engagements are in themselves, to a certain extent, a
guarantee of peace, for any appearance even of a chance of
war would be the destruction of public credit." Com-
nsercial affairs are admitted to be in a very bad state. Busi-
ness is much reduced, profits are small, and discounts diffi-
cult for manufacturers and merchants. The constant ab-
sorption of money by the Government and the railway
companies at high rates tends naturally to deprive the com-
mercial classes of all resources. " tis evident that as long
as money can be placed in Government securities, or secu-
rities guaranteed by Government at from 5 to 6 per cent.,
commerce cannot borrow at less than 7 or 8." The wes-
tern provinces of France have suffered greatly, and there
have been many failures in Caen and other cities of Nor-
mandy and Brittany. Havro and Marseilles, owing to the
large trade in corn and rise in cotton, have been more for-
tunate. Paris, Lyons, Rheims, Tourcoing, and Roubaix
have felt severely the cessation of trade with America. The
exports to America for the first 10 months of 1859, 1860,
and 1861 were as follows :-1859, 458,000.000 f. ; 1860,
412,000,000 f. ; 1861, 112,000,000. The importation of
English goods is gradually increasing. In iron it has aug-
mented nearly fourfold compared with last year. With re-
gard to corn and flour it is generally supposed that the pur-
chases already effected cover at least three• fourths of the
deficiency, and nearly the whole of these are paid for.