The Sun.
London, England, 1841-01-01 00:00:00

CHAMBER OF DEPUTIES, DEC. 30.

M. HUMANN'S SPEECH ON THE BUDGET.
4' Gentlemen, the King has ordered us to lay before yon‘
the budget of expenditure and receipt for the year 1842..
Considerable expenses are imposed on us by circum-
stances which had taken place before taking office.
Our first attentions have necessarily been directed to
ascertaining the extent of the expenses already consume
mated or commenced, and to calculating the importanae 0r
the sacrifices that the interest and the honour of the nation-
might require. In soliciting the audits necessary for tbe'
year 1842, we laid before you an apercu of our financial=
position ; it reveals an important fact, viz , that, indepen"
dently of accidental necessities, the public revenue, in spit°
of its progressive improvement, no longer suffices for the'
ordinary expenses of the State. Exclusive of these ex-
penses, the Chambers have granted for works of public'
utility upwards of 4,000,0" which successively absorbed'
the funds which the Sinking Fund left free ; these granter
by their yearly increase, have at length exceeded the pre-
scribed amount of the annual revenue. In short, we have
to meet extraordinary expenses, which was without doubt.
modified by events, or by the resolutions of the Chambers,-
but which oblige us, in the present state of things, to
include in our ealcuation a deficit, which, though-
reduced by the combination of a special law for the
War and Marine Departments, still amounts to 500 millions,
We must also keep in view that the treasury supports an-
other deposit of 256 millions, previous to the year 1833,
and which has hitherto absorbed, in part, the resources of
the floating debt.
You are well aware, Gentlemen, that the resources
granted by the law 17th May, 1837, consisted of the over.-
plus of the revenue riot otherwise employed, of the re-
serve of the Sinking Fund, and in short, of the rentes in-
case of insufficiency of the other ways and means. Now,
would it not be a fo!ly to reckon on an overplus of rezeipts
when we see them yearly exceeded by our expenditure?
You must also rerreirk that the adjudication of loans
wes indicated by the law of 1837, as a subsidiary resource',
and allow us to add, with the hope that it would never
be employed. It is then beyond doubt that the sy9--
tern of the law of 17th May, reposes entirely en
the resource of the Sinking Fund. A short tins
ago, Gentlemen, the Five per Cents, were so near par, that
we were on the point cf seeing the accumulation of the'
resources at an end. Had this taken place, the sinking'
fund, instead of being of any assistance to the Treasury,
would have added to its embarrassment ; for it would
have become necessary to borrow for the purpose of reim-
bursing non.consolidatcd funds previously absorbed ; it
would have become necessary to borrow to continue the
works already commenced, and which could not be stopped
suddenly, and also to borrow to meet the still more impe-
rious necessities arising from circumstances.
We consequently submit to you propositions—one to
affect from 1842 the reserve of the sinking fund to the
extension of the deposits of the years 1840, 1841, and
1842; the other to authorise a loan of 450 millions to
meet the expenses of the public works belonging to the';
War and Marine Departments. An especial project or
law will be laid before you shortly, dividing the total ex-
pense of the works on a series of years, and fixing for eacb
year a limit not to be exceeded.

The sinking fund belongs to the debt—its real and
especial destination is to liberate the State ; we
cannot, therefore, apply it more appropriately than
in paying dr the deficits. The consolidation of
the available sums operated every half year will
confine within the limits of a prudent foresight the
obligations imposed on the Treasury by the sth article of
the law of the 7th and 10-h of June, 1833. It will per-
haps here be objected that should our Rentes get below
par, the resources of the sinking fund will not be available
for the declination we intend. This is true—but wilgt-
would arise thereupon ?—why, the extinction of the de-
ficits would be slightly prolonged, and the floating debt,
with the elasticity which belongs to it, would easily pre-
side for it.

Gentlemen,—The plan we submit to your discernment
is very simple, and the following may be considered as a
summary of its results —You will efface with the Sinking'
Fund, if circumstances favour you, the deficits of 1840,
1841, and 1842, in the space of a few years ; at the end of
which you will find this powerful resource increased by cow"
pound interest. You will secure the termination of the giteat
works of public utility by ways and means not exposed OF
Independently of these results, you can, if energetietqlf
inclined, increase the revenue of the State so as to (qua) its
necessities, without creating new taxes or augmenting
tariff duties. We will explain this when we speak Or
receipts.
I have now to refer to the necessities of the yerr 1842.
All the expenses required to keep our civil and military

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organisation are included in the budget before you ; we
have included therein the interests of the Sinking Fund
bonds, the allowances for the Pension Fund, and other
experres not contained in former budgets. The budget
of 1842 may therefore be considered as a faithful and com-
plete :able of the ordinary necessities of the State.
We have omitted the ex eases of extraordinary public
storks. But it does not enter into our thoughts, that this
being placed in a special budget prevents them being in-
cluded also in the general one.
The pubic debt presents us with the leading services
Which we have to pass in review. It figures in the Budget
under four divisions. the Consolideted Debt, Loans for
Canal`, and ether Works, capital reimbursed in different
Ways, and Annuities.
Some annulments h"ve reduced the amount of 5 per
Cents. rentes by 2,811 E, whilst the 3 per cents. have in-
creased 1,144 t, by the indemnity to emigrants. On the
the side the fueemive consolidation of the reserve
43,f the Saikicg Fund augments the credit demanded for
the 4 per cents. by a sum of 13.064,357 f., composed of
11,122,357 f. demanded as a supplement of 1841, and of
1,942. 0001. fur the service cf 1843.
The Sinkng Fund with its dJtation of 44,616,463 prem.
litd i ,
ts rentes bought out, will dispose, in 1842, of a sum
°f 90,178,962 francs,
The funds applied to the extinction of loans is, by the
division of account, increased by 142,982 francs, when the
charge of int, rest is diminished in the same proportion.
ask fur interest on security money a credit of
8.250,000 instead of eight millions in the last Budget. Ex-
Perience has shown that the latter sum was insufficient,
since it was increased by 350,000 f. for 1840, and that we
Lave required for 1841 a supplement of 250,000 f. The
proposed sum is in proportion to the real wants of the ser-
/ice, by voting it you will avoid credits by ordinance.
The interest of the unfunded debt required an allowance of
Sixteen millions, which will allow of raising the temporary
Loans to five hundred million, in account current and in se-
curities at fixed periods.
The progressive extinctions reduce from 423,200 francs,
the credits for the life annuities and pensions. The in-
crease that you will observe on civil pensions for 61,723
Banes, and on the military pensions, for 1,350,000 francs
*ill be but apparent.
The endow,: erns, forming the said part of the budget,
are carried to 16,225,000 francs ; that. is 253,000 francs
less than in 1841. The result is the sequence of the re-
duction which the subvention allowed to the Legion of
Honour experiences which decreases from year to year, in
proportion to the extinctions.
The Budget of Justice offers an increase of 7,050 f.,
which results from supplementary allotment.; demanded for
32,3001., and compensaSed by reductions to the sum of
25,250 f.
The expense of public worship is increased also by the
laic of 1226,787 francs : the following are the causes;
'85.000f. must be added to the salaries and indemnification
of the Parochial Clergy by the replacing of the old ecele -
siasties by young non-pensioned priests. A supplement
of 12,000 r. is applied to the rent of the hotel for the re-
sidence of the Archbishop of Paris, 20,000 francs are
claimed In order to increase the number of Protestanth.
clergymen ; fifty thousand francs in order to facilitate the
Jewish religion in the payment of a debt contracted for
the building of a synagogue, and 4,780 francs, which it is
acknowledged is necessary to increase the subvention sup-
plied to the case des retrattes •
The budget of foreign affairs is in conformity in every
Point to that of 1841, only it takes in the subvention of
105,000 francs for the pensions of retirement, which for
Several, was attached by title of supplementary credit and
by virtue of a special law.
An augmentation of 378,162' francs seems to re-
sult from the preposition of the Minister of Public In-
struction. It is, in reality, but 113,362 francs. The
surplus of 264,800 f. represents expenses covered by equi-
valent receipts, but the expenses of primary schools, and
schools of pharmacy, united to the University by the
Royal ordounance of September, 1840. A sum of
113.362 franca is destined to remunerate a Ninth Coun-
cillor of the University, and certain Profess .rs of the
Normal School and Collage de France, as well as two
Royal Colleges.
The Home Minister demands that the union to refugees
be resisted in the list of services voted.
The Minister of Agriculture and Commerce demands an
augmentation of 51,799 f. for the establishment of Vichy ;
but this will be covered by the increase of revenue.
The plans for finishing the werks of public utility, which
ose have laid before you, bring hack the Budget of the
Minister of Public Works to its usual proportions; but
after the passing of the special law, which will shortly Le
presented to you, the cost of the extraordinary works
which shall be authorised for the year 1842, will be in-
cluded in the Budget of that department, of which it will
form a distinct section. The amount required for 1842
shows an increase of 318,000 f. ; composed of 28,2001. for
the central administration, of 160,0001. for the salaries of
the Department of Roads, Bridges, and Mines, of
130,0001. fur internal waterways and the superintendence
of railways.
The charges of the War department for 1842 are esti-
mated at 364,718.391 f., of which 49,028,274 f. are for
our possessions in Africa. These estimates exceed by
113,177,610 r, the credits originally opened for the
budget of 1841 ; but when compared to the special laws
of supplemeatary audits recently presented, it will be seen
that keeping up the same effective, the budget of 1842 is
has by 53,238,000 f. than that of 1840, and by
21,718,000 f. than that of 1841. The credit of 361
millions is the consequence of a temporary situation ; it,
lhowever, cannot be concealed, that under the most favour-
able hypothesis, the increase of effective forces produces
a permanent increase which does not amount to less than
42 millions.
The particulars published by the Minister of War, explain
In detail the increased expenditure ; the cause may be thus
"'mined op. The increase of bodies and the increase of
the effective (men and horses) have increased the annual
-expenditure by about 93,000,000 f., as well for home as for
fgcris ; 3,400,0001. are required for the manufacturing
arms and the making of powder ; 4 248,0001. for the
troops, in huts, 5,126,0001. for fortifications and buildings foe
the use of the military, 890,0001, on account of the increased
price of materials and provisions, and about 4,000,000 f. for
Improving the supply of the wants of the army in Africa.
The Minister of War keeps up, for 1842, the amount of
1,050,000 f., the credit intended as a provisional amount
for military pensions, and which is the object of a special
12anw- The naval and colonial department requires 127,
'0.4001. ; but this includes a suns of 14 millions, which,
according to the special law of July 16, 1840, is to be ap-
pled to the building of steamers for Transatlantic naviga-
tion, and the preparations for the service. If this acciden-
tal cause of expense be deducted, which is not a regular
expense attached to the Royal Navy, the credit for the
fleet and colonial establishments is reduced to the sum of
143,290400 r. With the proposed credits the Minister of
Marne will keep up to their present footing the naval
forces the Effective of the crews, the Marines and Artil-
lery, I come, Gentlemen, to unroll before you the exact
itatement of the charges of the country. The budget
presented to you exceeds 190,000,0001. that which
7ou voted last session. But we have joined to
it expenses left out of the budget of 1841 to the
amount of 40,000,0001., for which we have been
obliged to provide by supplementary credit!. With
respect to this mass of expenses. which amounts to
1,316,0001., the sum of the public revenue estimated at
,262,000 f., according to the results of the present year,
offers an insufficiency amounting to 154,000,000 f. And
if the expenses be calculated according to a peace este-
lblishmenn—if, setting aside the extraordinary charges, we
reduce it to a nominal state ; the insufficiency of ways
and means is still 64,000,000 francs, without including
die interests of the amortissement of the new Rentes
which we propose to create. Of all the facts just offered
for your meditations, this calls for most attention. The
two of direct contribution for 1842 is estimated at
396.054,6101., of which 286,030,1101. are supplied to the
general services of the bu 'get, and 110,024,5001. to de-
paitraent and parochial expenses. Yet we do not pro-
le( se new taxes, nor yet the augmentation of taxes.
'There is something first to be tried. Our con-
tribution system, in my op:non, ought to suffice for
the permanent wants of the country. But among
(our fiscal laws. Some ought to be adapted to the
energies of our social state. There are some which have
been telexed, and hence vices and irregularities, which of-
fend public morals and equity as much as the interests of
the Treasury. Wo present measures herewith to strengthen
the receipt of taxes, and generalise the application of
Imes We shall immediately ask for a new law to ensure
the collection of the stamp-duty, and other taxes of the
kind. The produce of customs and of the salt has arisen in
1840 to 1,841,000,000, although the sum has been increased
by 4,000,000, arising from the importation of foreign corn,
quite an accidental receipt, a renewal of which is not to be
desired, we fear no mistake in admitting an equal revenue
lor 1842. In short, the cheapness of provisions, by eeclud-
hog foreign corn, can but favour other consumption more
productive fcr the Treasury. The law of the 3d of
Jule last, on the sugars, insures us besides a more than
sufficient compensation, by admitting only the valuation
.of the duties to collect on the exotic sugars, sack as has
\been adopted for the budget of 1841. The indirect con.
tributions have been valued according to th e realizations
Aral the year 1840. First, respecting colonial sugar, we
thought to be enabled, by the progressive development
of the manufacture, to add three millions of killogrammes
to the quantities produced by the last crop. We, there-
fore calculate that the new duty of twenty-five francs,
.reckoned upon a quantity of twenty-seven killogrammes,
tthe which, united to 80 millions supplied by exotic sugars,
Will bring to 107 millions the mean consumption of the
last five years. Hence arises the contributions indirectes,
not including the tobacco, and a total receipt of 139,350,000
francs. It would offer 38 to 40 millions more, if, at the
etsd of the year 1830, she tariffs on beverage had not been
reduced ose-third. .A general system, too, with re-
'Pe to the sale of spirits in towns ought to be
adopted, and a new vase for the conveyance of liquors
into alcohol adopted; The sale of tobacco in 1840
has produced 94,458,000 f. The estimate of it for 1842
is 95 millions. The sale of lands is valued in the esti-
mates of 1842 at 5,357,000 f. the same as in 1840. We
lope front the Poet-office 97,025,500 f. ; the same as
that obtairnd in tho last twelve months, diminished by a
aunt of 100 dOof., by the suppression of Corsican packet-
In fine, the different products, in which are in-
cluded certain special revenues, such as the retribution of
ti
University, and of Algiers, amount to 30,486 582 f.
This estimate exceeds that of the last budget by 740,000 f.
The augmentation proceeds from the actual value of ten_
"ers to be delivered by the War Minister to the War and
Finance Department, and from the increase of the reserve
labours, from the expenses of the materiel of Marine. We
have terminated the enumeration of the ordinary revenue
'for 1840. It amoussts, as we have already said, to
.161
.838,14°L, to be divided thus : Francs.
direct contributions... 396.054,610
-Indirect taxes and rerimua
Produce of domains and woods 39,744,500
Divers revenue and produce

It 'n 1.161,t38,142
-ovr remains to consider the extraordinary ways and
means Which eircur,-istances call for, and which form, with
ulsKsitions hab:tually destined to facilitate the service,
Lai, Object of the last chapter of the law of receipts. We
you then $o authorise us to inscribe on the great

book of the public debt, and to negotiate with publicity
and competition the sum of rentes necessary to bring to the
treasury, as the result of the operation, a capital of
450,000,0001. It will be shown to you immediately that the
450,000 0001. will be absorbed by the works for which it
is required. In all cases the realisation of a loan will not
be immediate. The Treasury has a reserve which is still
120,000,0001., and it is at a good administration to in-
crease the balance in chest beyond measure, and cause the
loss of interest for which inadequate compensation can be
received. Therefore, we have not demanded any credit
for the service of renter to be negotiated—we only claim
the facility of creating them, if there be a necessity by
Royal ordinance without waiting to submit them for legis-
lative sanction at the opening of the Chambers as to the
choice of rentes to be created, with regard to the price or
the periods at which the payments of the loan arc to be
made. We also demand of you a credit of 250 millions in
Treasury Bonds. If the peace be confirmed, as it promises
to be, the resource will permit us to wait to realize or com-
plete the loan when our public funds have attained the price
which we consider belong to them. Gentlemen, you now
know the whole of our financial situation. You have
under our eyes a complete picture of our wants, and the
resources we have prepared to meet them. The views which
we now submit may be summed up in a few words. The Go-
vernment believes in peace, and because it so believes it
does not ask of you to step the progress given, for some
years, to the works of peace. In this view we make an ap-
peal to credit—the resources which we ask, in waiting till
their nominal datination is accomplished, will yield to the
treasury a temporary assistance, and aid in bearing the
weight of our deficits, which will be converted by degrees
by the consolidation of the successive resources of the
Sinking Fund. The budget, which we present to you,
has been conceived in the spirit of peace and the preserva-
tion of peace, which I and my colleagues have accepted
in taking upon us the responsibility of affairs. This task,
Gentlemen, we would have declined, if we had not the
estimate of connection that a good understanding between
the Great Powers of Europe might be confirmed and
maintained on conditions honourable and sure to our coun-
try. If our confidence is not ill-founded, a little time
and a low efforts will st.ffice to replace in our budgets a
durable equilibrium, and restore the prosperity of our
finances. That, Gentlemen, is necessary to enable France
to maintain its elevated rank among nations.
BO URSE.—Paars, WEDNESDAY, DEC. 30.
first Highest Lowest Lon
Price Price. Pilo. Price
Fren :115 tet Cents
4 per Cents 96 75 ... 96 75 ... 96 75 ... 96 '75
3 per Cents '76 60 ":6 7a 60 On 75
of france . .
/wan :Sant:
S I•er Cent,.., 97S, ... 97
3, et Cents
New Loan
Active.
Portuguese 3 per Cents :2054 ... :2054 ... :2054 '2054
Neap:Mt:oi
ttrunan ... 991,4 ... 995$ ... 99!i, 9945

I'AI.LWAY SHARES.
St. Germain
\re:saint:l,R. [3 3:40 50 ...:38`2 50 ... 380 50 ... 3,2 re
LB
Orleans .. 4130 ... 480 ... 480 ... 431
S.r3iiuritto Bale 236 95 ... ....a5 25 ... 35 . 235
ilulhausen to Thane

Dreadful has been the loss of life and property,
occasioned by the late tremendous gales in the
Black Sea. In addition to the sad accounts al-
ready published, we find the following in the
French and German journals received this morn-

mg :
Extract of a letter from Constantinople of the Bth
instant :
We had a dreadful gale here on the Ist inst. Among
the known losses are the barque Emma, Captain Hudson,
lead• d at Odessa with linseed and tallow, captain and all
hands perished ; the schooner Robert Symms, of Plymouth,
loaded at Od• ssa with tallow, captain and three men saved,
four lost; the Russian commercial steamer Neva or Em-
peror Nicholas,•Captain Rogers, from Odessa, with passen-
gers and cargo, 13 of the
.crew and six passengers lost;
the captain, first engineer, and four of the crew, with four
male and two female passengers, saved ; these went on
shore to the west and east of the Boghsz. The Seri Per-
vas, Austrian commercial steamer, loft Constantinople
just before the gale set in, with 525 Turkish soldiers for
Beyrout. She drifted out of her course, and was wrecked
near the entrance of the Gulf of Moudania. Two soldiers
washed off the deck, six or eight frozen to death, and all
the rest, including several Austrian officers going to join
the army in Syria, with the crew, saved. Several ships
are lost in the Bosphorus. The Tahiri Baltiri is just put
in from Syria, but there is no time to learn what she brings
before the departure of the present. The Turks are dis-
pleased with the officious interference of Commodore Na-
pier. The Crescent steamer, on her passage from Tre-
bisond, was struck by a sea, which carried twelve deck
passengers overboard. The Turkish steamer Zibaishi
Zidgeiret, also from Trebisond, had three passengers car-
ried overboard, and seven frozen to death."
Another letter says, " The storm of the Ist caused
numerous wrecks in the Black Sea. We have already re-
ceived accounts of the loss of 18 Greek vessels, three
English, and a much greater number of Austrians, Sar-
dinians, and Neapolitans. Even in the Channel seven
were cast away. Lieutenant-Colonel de Phillppovitch
and Capt. Count Szechvyni were onboard the Seri Paves
during the storm."

LLO YD'S SHIPPING.-(THIS DAY

LONDON, JAN. I.—Wind this day at noon, light airs
at W.S. W., and with fine mild clear weather.
DEAL, Dec. 31.—Wind W.N.W.—Sailed the Wil-
liam Bayley, Jeffries, for the Mauritius.
LIVERPOOL, DEC. 31.—Wind N., fresh.—Arrived the
Independence, Wyc, from New York, sailed on the 10th
inst. ; Johnstone, Demerara, sailed on the 14th ult. ;
Hector, Henderson, Montreal; Ocean Queen, Quebec ;
Parthenon, Woodbury, New o:leans ; Sobieaky, Emmer-
son, ditto; Niagara, Cole, ditto ; henry Leeds, Charles-
ton ; Shenandore, West, Philadelphia; Hannah, Ewing,
Miramiclii ; Welcome, Buren, Newfoundland; Cartha.
genian, Quebec. A schooner was driven on West Hoyle
during the night ; crew saved.
SHEERNESS, Dec. 31.—The Olive, Rennett, from Lon.
don to Dundee, is on shore on the Knock, but is expected
to be got off without damage. The Jane, Palmer, from
Sunderland to London. has been assisted in here, leaky,
having struck on the Shears Beacon. 4P. M. —The Olive
has been got off.
SOUTHWQLD, DEC. 31.—The Pedlar, of Rye, from
Sunderland, bus been brought in here much damaged,
having been in contact with a brig off the Kentish Knock.
CAMPBLE7OWN, DEC. 29.—The Sesostris, M'Kenzie,
from Pictou to the Clyde, is stranded in the bay, and is
expected will become a wreck—one man drowned; cargo
and materials expected to be saved.
TORBAY, DEC. 30.—Arrived off, the President, Owey,
from New York.

FALMOUTH, DEC. 30.—The Magnet packet arrived
here frora Rio Janeiro. On Aug. 31 fell in with in lat.
8 N. lon. 21 W., with a schooner having the appearance
of a pirate ; fired several shots at her, but she escaped
by superior sailing. The Francis Lawson, from Tatma-
gauche to Liverpool, being waterlogged, was abandoned
by the crew, Nov. 28, in lat. 44, long. 42 ; crew saved by
the Cornwall, Vivian, arrivad off this port.

THE MARKETS.-(THIS DAY.

CORN EXCHANGE.

The frost being gone, a fair show of samples appeared
of all Grain except Wts. The factors endeavoured to
obtain higher prices than of late, with which the buyers
were unwilling to comply.- The sale of Flour was good.