The Sun.
London, England, 1848-03-23 00:00:00

with the Minister of lit-lances on the subject..
report is that the Government Will take all the lines
out of the hands of the shareholders at par, and NI
for them in Five per Cent. stock at par.
The ilfoniteur publishes the following report from
the Minister of Finances on the position of the
country . -
REPORT OF THE MINISTER:. OF -FINANCES
TO THE PROVISIONAL GOVERNMENT.
"Paris; March 21.
" Citizens—Your first decrees have provided for the
wants of the Treasury; but this is but -one part of the
immense task which weighs on the Government of the
Republic. An industrial crisis exists, which will eo°°
destroy the manufacturers and labourers, if we do not
apply a prompt remedy. This crisis is evident under
two aspects—the quantity of bills which lie useless in the
safe of the merchant, the quantity of goods lying an;
saleable in the warerooais. By the fall of the priecipo
bankers, the merchants and traders found themselves
suddenly deprived of the means to procure the capital
which was necessary for their operations, whiist at the,
same time the diminution of consumption lift on hand
quantities of unsaleable goods.
" Attentive to this double necessity, you have, on -raY
proposition, decreed the establishrutut of discount beaks
in Paris and all the great centres of agricultural, insult'
lecturing, and commercial activity. The credit of the
State. joined in a powerful association with that of ititli*
victuals, has already rendered services, and will be called
on in future to exercise a still more fruitful influence.
You must now do for goods that which you have
already dune for bills. They want a vent : you must
open it for them. A great number of houses of high,
character, and on which the existence of thousands 01
labourers depend, have fallen, or are on the point of
falling, although their position was really excellent. In
a few days, if we do not take care, circumstances maY
be aggravated. 1 The commercial values created by
former transactions are exhausted, and the exchanges
having diminished, they will restore themselves very
slowly. In this state of things, I think the best way.to
remedy the evil is to anticipate consumption in the cir-
culation. I think it is necessary to restore life to valves
which are now stagnant; and I have therefore the honour
to submit to your consideration the following -proposi-
tion:—With the view to enable the manufacturers to
dispose of their merchandises for money, there shell be
established at Paris and in the departments general ware-
houses, where the manufacturers And traders'shall come
to deposit the raw materials, the goods, and manufactured
articles of which they may be- the proprietors. 111
exchange for their deposits,: they :shall receive acknow-
lodgments extracted from a register with blocks. Tbie
receipt, indicating the saleable • value of the article,
properly valued,'shall vouch the property, and will be
transferable by endorsement. The bearers of receipts
of the central warehouses will be allowed to deposit them
as guarantees at the discount banks. Marked with the
stamp of the Republic, and representing a solid, tangible,
and easily realisable value, these receipts will be
regarded as equivalent to a second endorsement. I have
no doubt that thii endorsement will be favourably
received by all the great .banks, and that the acceptors of,
bills so a,lidly guaranteed will, by the sole means 01
discount banks,' attain great resources of capital, con-
vinced that this. vitality. given to articles of value now
paralysed will • powerfully contribute to reanimate
industry, commerce; and consequently labour, and have
the honour, citizens, to present you the following de-
cree:—

" Art. 1. There shall be established in Paris and in
the other cities where a want may be felt, general ware-
houses, where merchants and traders may deposit the
raw materials, goods, and manufactured articles of which
they are proprietors.
" 2. These warehouses may, in case of necessity, be
established by the Commissioners of the Government ou
the demand of the Chambers of Commerce or the Mali'
cip4l Councils.

•• 3. There shall be delirered to depositors receipts
marked, first, with the stump of the Republic; second,
with thk, stump of warehouses where they hare been
deposited. . .
•• These receipts, extracted from registers, with blooks,
transferring the property deposited, will be transferable
by endorsaraent.

.6 They shall be liable to a duty not exceeding on•
franc ten centimes.

" 4. The warehouses shall be placed under the guar'
dianship of the Statv.

" 5. All provisions of former laws which may be in
opposition to this decree, are suspended.
" 6. The Minister, of Finance,. the Minister of the In-
terior, the Mayor of Paris, the Minister of Commerce►
are charged with the execution of this decree."

The National Discount Bank commenced its ope-
rations on Monday. On Monday the amount dis-
counted was nearly a million of francs, and yesterday'
1,200,000 francs.

The Moniteur publishes a decree, appointing Ge-
neral CAVAIGNAC, the present Governor-General of
Algeria, to be Minister of War. General CHANG/I.
NIER is to be Governor-General of Algeria, but the
official appointment has not yet taken place.
The following paragraph appears in the Afoniteur:—.
" The explanation given by Lord Normanby as to the
reception given in London to tho members of the
family fallen from the throne, were not given, as has
been said, in a dispatch from Lord Palmerston, but in
conversation between Lord Normanby and the Minister
of Foreign Affairs of the Republic. Lord Normanby
in that conversation made use, textually, of the terms
used by the English Minister in the House of Com-
mons."

BOURSE-PARIS, WEDNESDAY, MARCH 22.
THREE O'CLOCK.-Thy, chief characteristic of the day's
proceedings was a considerable rise in the Railway
Shares, in consequence of its being reported that the
Provisional Government intends taking all the lines into
its own hands, and paying the shareholders in Five per
Cent. Rente. From the very commencement of business
a considerable number of purchases were effected, and
at the close the lines presented the following improve-
ment on the prices of the preceding day :-Marseilles
are 25f. better, closing at 280 f. ; Vierson, 25f, better,
at 2501. ; Lyons, 21f. 25c. better, at 3151.; Orleans,
12f. 50e. better, at 712 f, 50c.; Nantes, I.lf. 25c. bettor at
3411. 25c. ; Strasburgh, Northern, and Bordeaux, each,
10f. better, at 3481.75 c., 410 E, and 345 f.; Rouen, 6(.25e.
better, at 420 f.; Versailles (Right Bank), 71. 50c. better,
at 115 f.; Versailles (Left Bank), 51. better, at 115 f. Tbs
French Rente was riot much negotiated. The Five per
Cents. are If. 25c. lower, closing at 72f. 25c. ; and tb•
Three per Cents. are 25c. better, at 51f.; Bank of
France Shares are 50f. lower, closing at 1,6501,; Spanish
Tnrees are lf. lower, at 211. ; Roman lif. lower, at 53f.
Keine Montagne Shares closed at 2,000 f., or 4501. lower
than before the Revolution.
BUSINESS DONE IN FOREIGN RAILWAYS AT TII
LONDON STOCK EXCHANGE, IlAncx 22.
Boulogne and Amiens, -Namur and Liege, 21,4-
Northern of France, 212-Paris and Lyons, 14-Paris and
Rouen, 15-Paris sad Strasbourg, 14.