The Sun.
London, England, 1848-06-24 00:00:00

5. OVERDUE DEBTS TO BE RECOVERED.

We do not know the solvability of the debtors to the
Treasury, and under present circumstances we are
doubtful of the recovery of these debts.

6. CASH IN POSSESSION OF THE RAILWAY COMPANIES.

-----
Until the Assembly shall have decided upon the re-
purchase of the railways, your committee cannot reckon
upon this as a certain resource. Besides, the estimate of
companies, the
the
amount
appropriation stthe Minister is evidently exaggerated, for even in taking
for
omgpted ,
a stated
these
is ne
stuhme handss
wonld of the
farthe
from yielding so considerable a resource to the State.
For, out of these 45 millions, nearly 25 millions are in
Treasury Bonds, and, in the present state of the finances,
cannot be considered available.
7. MORTGAGES.
Mortgages may very well yield 83 millions to the
Treasury, but we wish you to observe that, in the new
edition of the budget, the reserves of mortgages are to
figure amongst the ordinary resources, and that they are
already earned to the acc;:unt of 1848.
Lastly, the MinisBte.r"eVrlfeLultaltseTs. at 25 millions the
sums to be paid back by the ancient Civil List on ac-
count of the thinnin,gs made in the property
in the forests of the State. We 3do not think
it right to make this sum figure in the resources of the
Treasury before the question has been settled, and that
therefore this should be struck out. Besides this, after
such large sales of land and real estates, it will be a long
time before a resource derived from property of that na-
ture can be realized.

RECAPITULATION.
In recapitulating these different observations, your
committee only finds 250 millions of receipts insured, to

wit:-

150 millions from the loan of the Bank.
50 millions from the Rentes of the department.
50 millions from the sale of different portions of the
domain of the state.
On the other hand, we calculate that the deficiency of
the amended budget of 1848 would amount to a sum ap-
proximating 120 to 140 millions. In this manner, after
having covered the deficiency to a certain amount, with
the extraordinary resources, the Treasury will not have
more from these same resources, in commencing the ser-
vice of the year 1849, than the sum of 100 millions.
And the Assembly will remark that this sum may be
still further diminished by extraordinary credits which
are not placed in the budget.
Thus the Ateliers Nationaux have already absorbed a
sum of nine millions. You granted them on the 24th of
May a sum of three millions, and already a further grant
is demanded of you. The balance of 100 millions to the
credit of the Treasury, at the end of 1848, is therefore
only a matter to be hoped after all. But, however that
may be, you have resources to the end of 1848. Your
object is to gain time, for time is safety, because it bringe
back your credit.
Credit is only founded on fidelity to engagements. A
state, like an individual, has only credit on condition of
paying his debts. Convinced of this truth, your Com-
mittee has already proposed to you to reimburse the
Bons du Trent., and the deposits in the savings' banks,
in Five per Cents., at the price of the day. This measure
would have the most salutary retults; it would relieve
our finances of the floating debt which crushes it; and
the very greatness of the sacrifice which %I e would im-
pose upon ourselves, would prove to the world that we
do not shrink before any loss to do honour to our
engagements. Notwithstanding the contrary advice
given by the Minister of Finances, your committee per-
sists in this conviction. It persists in it with still greater
force when it sees the mode of payment proposed by
the Minister. The Minister proposes to us to decide
that the Eons du Tresor issued before the 24th of Feb-
ruary, 1848, or renewed sire: that time, shall be renewed
commencebya series
fromof
the month of November,
I,soo,ooofran cs from month
8
Ito4.Yomonth,ur
committee
committee does not approve of a measure of which the
result is to prorogue for fifteen years the payment of
Bons which a decree of the Provisional Government has
already prorogued for six months. if the combination
of the Minister is adopted, the Treasury will be deprived,
between this time and the end of fifteen years, of the re-
source, so necessary, of the floating debt, which, on the
contrary, would be at once opened immediately to us, if
we adopted the liquidation which we have the honour
of proposiug. We also maintain the same plan
for the Savings Banks—that sacred credit of the
workman. We approve of the partial reimbursement
proposed by the Minister. But this measure has always
the inconvenience of leaving on the Treasury the charge
which crushes credit, and of abandoning the unhappy
depositors who have occasion for their savings to the
discretion of speculators.
By the liquidation of the floating debt, and with i•
extraordinary resources of 250 millions, at which we
calculate the available resources, we hope to arriveat
the year 1848 (1849?) with an excess in resources of
100 millions. It is to the Government that it belcngs
to :do the rest. The fortunes of France are in its

hands. _
Such, citizens, is, without discouragement, as well as
without illusion, the judgment that your Committee
passes on the situation of your finances.

RAILWAY SHARE MARKETS.
BFISTOL, JUNE 23.

STOCK EXCHANGII—Oar market was very inactive, al-
though there was no sensible reduction of prices. Business
was done in Great Western Quarter Shares, at 2% die. ;
Lancashire and Yorkshire, New guaranteed 6 per cent., 3-16
p. Midland, Birmingham, and Gloucester, 116.

ROYAL SURREY ZOOLOGICAL GARDENS.
Attraction unprecedented.
JULLIEN and his UNRIVALLED BAND.
New Quadrille, composed expressly thr the Gardens.
Engagement of Miss HUDDART.
Continuation of the Engagement of Mdlle. LOVARNY.
The DAYLIGHT VIEW of ROME, by Damson.
Superb and Unique MENAGERIE.
Grand Display of FIREWORKS, by the Messrs. Southby.
No Extra litarge.
MONDAY, TUESDAY, WEDNESDAY, THURSDAY, and
FRIDAY.
View of Rome —Promenade Concerts, Vocal and Instrumental,
Conducted by Mons. JULLIEN, whose splendid Band of Solo Per-
lormers includes Messrs. Baker, Barrett, Bauman, George and Viotti
Cellos, Cloffi, Collinet, Kenig, Lazaru,, Richard.on, Sonnenberg,
&c.—Two bolos each Evening. —Mae. Lovarny will sing two fa-
vourite Songs, Miss Huddart will sing a favourite Song, and with
Lovarny will execute an admired Duet.—Also to be seen,
during the day, the beautiful Menagerie—Shakspere's House—The
Magic Bridge—and other novelties will be exhibited, the whole
concluding with a most magnificent and not to be rivalled display
of Fireworks, by the Messrs. Southby, representing the Girandola
during the Holy Week at Rome.
Gates open at Ten ♦.M., Feeding Time Five—Jullien's Concert at
a Quarter past Six—Fireworks at Half-past _Nike.
Admission, as usual, One Shilling.