The Sun.
London, England, 1848-03-17 00:00:00

FRIDAY EVENING, MARC' 17, 1848

THE FRENCH REPUBLIC.

PROCEEDINGS AT PARIS.

We have received the Paris papers of yesterday.
The Bank of France has been compelled to suspend
cash payments, and is authorised to issue inconver-
tible notes of 100 f. each. The following letter from
the Governor of the Bank to the Minister of Finances,
with the decree of the Provisional Government
founded thereon, appeared in the lifoniteur of yes-
terday :
" The Provisional Government has this day received
the following letter:—
"' The Governor of the Bank of France to the Minister
Secretary of State of the Finances.
" Paris, March 15.
" Monsieur le Ministre,—l have had the honour of
giving you an account, day by day, of the operations of
the Bank. You have been pleased to appreciate the
efforts which it has made to support the transactions of
commerce and the public credit. From the 22d of Fe-
bruary to the 15th of March, that is to say, in fifteen
business days, the Bank has discounted in Paris the
sum of one hundred and ten millions. Of the one
hundred and twenty-five millions which it owed to the
Treasury it has paid seventy millions. We do not
include in that sum eleven millions placed at the
disposal of the Treasury in different banks, to meet the
urgent necessities of the public service in the depart-
ments of the Var, Bouches de Rhone, Gard Herault, ke.
Besides this, the Bank has discounted 43,000,000 f. in the
towns in which it has branches, and it has also supported
the trade of Angoulenae, Bescancon, Caen, Mulhausen,
Strasburg, Sze. By diseounts at Paris it has endea-
voured to prevent the suspension of payments in the
departmental banks of Rouen, Havre, Lille, and Orleans.
The Bank of Marseilles has been aided by the branch
at Montpellier. The promptitude and the largeness of
these operations of the Bank gave us the hope of over-
coming the crisis, and we flattered ourselves with that
hope till this day. We should probably have succeeded,
but for the extraordinary and exaggerated demands
occasioned by fear. In the interval between the 26th of
February and the evening of tho 14th of March the amount
of cash in the Bank coffers in Paris diminished from 140
millions to seventy millions—that is to say seventy mil-
lions. This morning the panic declared itself. The
holders of notes presented themselves in crowds at the
Bank. New counters were opened to facilitate the ac-
celerated operations. More than ten millions have been
paid in cash. There only remains at Paris this evening
fifty-nine Trillions. To-morrow tho crowd will be still
greater; and in a few days the Bank will be entirely un-
provided with specie. In these grave circumstances, we
are obliged to have recourse to your vigilant and ener-
getic solicitude, and to that of the Government.
•" The Council General of the Bank, deliberating on
this state of affairs, has directed me to submit to you the
proposition to demand of the Provisional Government
the following dispositions:—
"' Until further orders, notes of the Bank of France
and of its branches, shall be reputed legal money. The
Bank of France will not be bound to reimburse them in
cash.

"' The Bank of France is authorised to issue notes of
two hundred francs. The maximum of the total circu-
lation of the Bank of France and its branches cannot
exceed three hundred and fifty millions.
" The Bank of France will publish every eight days
its situation in the Illoniteur.'

"Receive, sir, the assurance, &e.
D'ARGOU T.

(ApproTed.)
" F. ARAGO, DUPONT (de I'Eure),
GARNIER PAGES, A. CREMIEUX,
MARIE."
Upon this follows the decree :
"DECREE.

" The Provisional Government, having taken notice of
the deliberation of the Bank of France of this day, and
considering, &c., &c.,

" Decrees--
" Art. 1. From the ♦ery day of the publication of the
present decree, notes of the Bank of France shall be re-
ceived as legal money by the publio offices and by private

"Art. 2. Until further orders, the Bank is freed from
the obligation to reimburse its notes with specie.
" Art. 3. In no case can the emissions of the Bank of
France exceed 350 millions. _ _ _

" Art. 4. To facilitate the circulation, the Bank of
France is authorised to issue notes which cannot be
under 100 f.

" Art. 5. The dispositions of the present decree apply
to all the branches which the Bank has established in
the departments.
" Art. 6. The Bank of France will publish every
eight dap its situation in the Moniteur.
" Done at Paris, in the Council of Government, the
15th of March, 1648.
" The members of the Provisional Government:—
" DUPONT (do l'Eure), FLOCON, MARRAST,
ALBERT (Ouvrier), LAIIARTINE, LEDRU
ROLLIN, CRE3IIEUX, MARIS, LOUIS
BLANC, ABACO, GABBIER PAGES.
" The Secretary.Geueral of the Provisional Govern-
ment, " PAGNERE."

The panic has been increased by the ill-judged
circular of M. LEDAU ROLLIN o❑ the subject of the
elections. He has not yet resigned the Ministry of
the Interior, although there is every probability that
ere long the public indignation will drive him from
his post. Already have his colleagues been com
pelled to disavow the doctrines propagated in his
circular. Yesterday a deputation of the Republican
Club for the liberty 'of elections waited upon the
Provisional Government, to inform it of the alarm
created in the public mind by the circular of the
Minister of the Interior. The club declared that
the terms of that circular had created serious fears
that the Provisional Go vernment di4 not sufficiently
respect the liberty of the citizens in the choice which
they were soon to have to make for their representa-
tives in the National Assembly. M. LAMANTINE
replied at considerable length. In the course of his
remarks, he said—

'• The Provisional Government has not directed any
one to speak in its name to the nation, and especially to
speak a language superior to the law.—(Bravo, bravo.)
That right it has given to no one, for it did not wish to
take it upon itself at the moment when, by the acclama-
tions of the people, it assumed temporarily the painful
position which it occupies. It did not wish it. It did
not do it. It will never do it. Believe this from the
naraes of the men who compose it. Be certain that,
before many days elapse, the Provisional Government
itself will speak, in order that whatever may be is the
terms of that document, though there was certainly no-
thing in its intention to hart or to disquiet the liberty
and the conscienco of the country, may be explained,
commented, re-established by the voice of the entire
Government itself.—{Acclamations, and cries of
Lamartine 1') Say rather, Vive le Gouvernoment tout
entier !' for this is not my idea alone, it is that of the
entire Government, and not of the Minister himself."

A Member of the Deputation " We accept it as
such."

M. LAMARTINE—" Citizens, of all the dogmas which
have survived the overturning of thrones and empires
which we have been witnesses of during the last half
century, there is but one dogma which we regard as
sacred and imperishable—that of national sovereignty.
—(Bravo.) On that national sovereignty we will never
make any attempt ourselves, nor will we ever permit an
attempt to be made on it in our name or in yours. The
Provisional Government rejoices, be assured, that you
have come as the exponents of true and free republican
sentiment, to demand an explanation of the conduct it
intends to pursue in these elections, from which the Re-
publican Government is freely to issue. And here I do
not speak to you in my own name, but a few hours ago
a council of the Government entertained this question,
and it was there unanimously decided that the Go-
vernment were bound by truth, by nature, by
respect for the national sovereignty, not to inter-
fere, directly er indirectly, in the elections.—
(Cheers.) That as individuals—for none of us, when we
accepted the Government, forfeited our rights as citizens
—we will propagate in every way amongst our friends
our own opinions; but that as a Government, armed with
any share of the public influence' we would blush at the
reproaches which we had uttered against the Govern-
ment which
.preceded us for corruption, if in place of
the corruption
whose infamies had given rise to the
Republic, we used that other corruption, the worst of
all corruptions—the corruption of intimidation and moral
oppression of the conscience. No; the Republic must
come out, shall come out, free and pure.
" I desire, we all desire, that this should re-echo in
the public opinion of Paris and of France. We desire
that public opinion should be re-assured, and should not
take in an alarming sense some words wrongly inter-
preted in the documents of the Ministers, who attach
their signatures often in haste. Know then and say it
to those who await you, that the entire Government feels
the necessity of re-assuring the public mind now by this
conversation with you, and soon again by a public pro-
clamation, a proclamation which shall contain liberal,
moral, conservative principles, securing the rights and
interests of every citizen without exception.
" You wish that the Republic and liberty should mean
one and the same thing, otherwise the Republic would
be a lie, we wish it a truth. We wish to found a Re-
public which shall be the model of modern Governments,
and not the imitation of the faults and misfortunes of a
former time. We adopt the glories of that time, we re-
pudiate its anarchies and its wrongs. Assist is to found
and defend such a Republic. Vote according to your
consciences ; and if, as I have no doubt those are, the
consciences of good citizens, the Republic will be esta-
blished by your votes, as it has already been founded by
the arms of Paris."
The deputation retired amidst reiterated cries of
Vive LAMARTINE," " Viva le Gouvernement Provi-
sionaire," " Vive la Republique."
KRERATRY, an old and staunch Republican,
who was appointed by the Provisional Government a
Councillor of State, has sent in his resignation,
giving as his reason for so doing the conscientious
objection which he entertains to the violent, tyran-
nical, anti-republican, and retrograde principles
enunciated by MM. LEDItU ROLLIN and CAVA(); in
their respective circulars.
Great dissatisfaction has been produced among the
National Guards of Paris by the decree of the Pro-
visional Government for the fusion of the Grenadier
and Light Infantry companies with the centre com-
panies, and for the mixing up the National Guards as

one body for the election of their officers, instead of
suffering, as heretofore, each company to choose
its own. Several of them presented themselves
at the Hotel de "Ville, and handed in a protest against
the decree of the Provisional Government, threaten-
ing that if the decree were not withdrawn they
would come armed and enforce its repeal. The Go-
vernment immediately issued a decree postponing
the election of officers from the lath to the tad of
March, in order, says the National, " to give itself
time fully to consider the bearings of the situation in
which it is placed, and to examine, however there
may be, any foundation for the protests which have
been presented to it."
The postponement of the elections, however, did
not satisfy the National Guard, and yesterday the
grenadiers and light companies went en masse to pro-
test against the order for their fusion with the centre
companies. Great crowds of the people assembled,
and the grenadiers were hooted occasionally, but
no collision took place. On arriving at the Hotel de
Ville, an employe of the Government appeared, and
informed the National Guard that the Government
had resolved that the order of which they complained
should not be carried into effect, and that the com-
panies should not be broken up, but should form the
nucleus of larger companies, which became necessary
in consequence of the increased number of citizens,
who, since the revolution, had inscribed themselves
in the National Guards. At the same time they were
informed that the delegates of the National Guards
would be received by the Provisional Government at
four o'clock. This declaration being considered satis-
factory, the whole of the companies retired. The
number of National Guards present was between four
and five thousand.

The Moniteur publishes the following :
" REPORT OF THE MINISTER. OP FOREIGN AFFAIRS TO
THE PROVISIONAL GOVERNMENT OF THE TITLES TO
BE GIVEN TO THE DIPLOMATIC AGENTS OF THE
REPUBLIC.

" Republican and democratic governments have no
need, in their diplomatic relations with foreign powers,
of the prestige of titles, of any great display of pre-
eminence at foreign courts. The moral authority of

their agents abroad is in the name of the nation which
they represent. Their display consists in simplicity,
their rank is in their title ; their dignity is in the re-
spect which they inspire, and in the respect which they
testify to the governments and nations to which they
are sent. The French Republic cannot too soon bring
back to these principles the system of diplomatic re-
presentation. The uniform simplification of the titles
of its agents ought to be, at the same time, a charac.
teristie sign of its republican nature, and a measure
of economy, by the reduction of the salaries ap-
proptiated to these high superfluities of the diplo-
matic body. A small number of uniform, modest,
and clear titles, significative of the forms and orders of
functions of our agents abroad, are all that are required
to characterise our diplomacy. Sufficient salaries, but
confined to strict necessity and propriety, will be given;
and thus a great economy will be effected. The amount
of this rernunc,ration, the bases of which are being es-
tablished at present, shall be restricted in such a manner
as to reduce the budget of foreign affairs, without injur-
ing the service of the republic; but if a popular govern-
ment ought to be ecconomical, a democratic government
ought not to accept services for nothing; for it would
thus render the highest political functions of the
republic the monopoly of the aristocracy of fortune.
The republic wishes to be served and represented
abroad by all the citizens worthy to perso-
nify it, and capable to serve it, without ac
ceptation of rank, profession, or fortune. Under
a democratic government every career is open to every
one. In consequence the title is suppressed, except in
such exceptional cases as it should suit the republic to
give to its representative a more general and more solemn
character, as, for instance, for the signature of a Euro-
pean treaty, or to represent the Republic at a congress.
'rho foreign agents of the Republic will be henceforward
—l, Envoys Extraordinary, Ministers Plenipotentiary
of the Republic ; 2, Charges d'AffAires ; 3, Secretaries
of Legation ; 4, Diplomatic Aspirants, who will replace
the Attaches, the paid Attaches, and the indemnity-
receiving Attachiis at present existing. This class of
Toung diplomatic pupils will receive a salary of encou-
etagement from the State, merely to aid such families as
destine their sons to the diplomatic career, and to render
all diplomatic employments really accessible to the
republican democracy which we are founding on equality.
" LAMARTINE."

The National Guards intend to petition for the
dismissal of M. LEDRU ROLLIN, who seems inclined
to "drive liberty mad, in order to disgust the world
with her." It is said, that on Wednesday, when his
colleagues in Council assembled refused to assent to
certain of his propositions, ho threatened to call in
the people assembled in the court, and coerce the
Government, whereupon M. GARNIHR PAGZS drew a
pistol from his pocket, and declared that he would
blow LEDRU ROLLIN's brains out if he stirred from
the spot, whereupon M. LEDRU ROLLIN consented to
have his proposition negatived. It might be almost
surmised that M. LEDRU RoLux was an absolutist at
heart, who was engaged to do all in his power to em-
barrass and thwart the Provisional Government, in
order to render a republic hateful, and to bring
about a restoration.

The decree authorising the suspension of cash pay-
ments by the Bank had partially restored confidence,
and a considerable rise in rentea and railway share 3
took place yesterday.
The Moniteur publishes the following debtor and
creditor account furnished by the Bank of France,
and made up at the close of business on Wednesday,
the 15th inst.:—

" DEBTOR.

Francs. Cents.
Capital ... ... ... .. 67,900,000 0
Reserve . ... ... ... 10,000,000 0
Reserve in landed property ... 4,000 000 0
Bank-notes in circulation ... 263,604,250 0
Ditto of branch banks ... ... 9,800,000 0
Ditto to order ... ... ... 2,035,262 10
Treasury account current creditor 42,255,092 03
Sundry accounts current ... 81,617,659 59
Receipts payable at sight 1,861,000 0
Bills re-discounted ... ... 728,692 37
Dividends payable ... ... 423,444 25
Sundry expenses ... ... 2,177,298 29
Algiers Bank ••• ... ... 1,069,097 19
Draughts of branch banks payable 732,278 49
Sundries 29,601 27
••• ••• •••

488,243,675 58
" CREDITOR.

Francs. Cents.
Cash in coins and ingots ... 59,543,509 38
Cash in branch banks ... 64,300,000 0
Commercial bills, due 16th inst.... 5,676,199 11
Commercial bills discounted ... 252,645,351 87
Ditto of branch banks ... 50,732,269 46
Advanced on ingots ... ... 3,050,600 0
Ditto on French Government 'se-

cavities ... ... ... ... 13,203,482 90
Due by branch banks ... ... 9,800,000 0
Government security in reserve ... 10,000,000 0
Ditto available ... ... ... 12,660,197 89
Hotel and furniture of the bank ... 4,000,000 0
Interest in the Bank of Algiers ... 1,000,000 0
Bills unpaid ... ... ••• 524,747 56
Amount of Government Stock

sold to Russia unpaid ... ... 1,107,389 31
Expenses of the establishment ... 280,976 10
Sundries ... ... ... ... 18,962 0

488,243,675 58
" Certified, Paris, 15th March, 1848.
" The Governor of the Bank of France,
" D'ARG OUT."
The crusade against foreign workmen still con-
tinues, and at llavre the masters have been threatened
that unless they dismiss all English workmen, their
manufactories will be demolished. Throughout all
Normandy suspension of employment is universal,
and the greatest distress prevails.

BOURSE—PARIS, TUURSDAY, MARCH 16.
THREH o'CLocic..—The decree of the Provisional
Government relative to the Bank of France had the
effect of producing a better state of feeling at the
Bourse. The shares of the Bank opened at 1,500 t,
went up to 1,600 f., then fell at once to 1,400 f., and
closed at 1,450 f, or 150 f. better than the preceding
day. These four quotations were all that were given in
the official list. The Three per Cents. opened at 25f. and
closed at 50E, or 4f. better. Fives opened at 71f., were
done as high as 731'. 50c., and closed all 73f., also 4f.
better. At the money changers, all day, when any de-
mand was made to obtain silver for a Bank of France
note, the reply was invariably, "We have no change!"
If the price was asked for changing, the answer was,
" Oh, as usual, only 15c." But if the domandant de-
clared that he must absolutely have change at any !sacri-
fice, silver could be found for 100 f. on each note of
1,000 f.
etnhee sumrtl
securitiesgiven
890 f.;
are
City o
fori t
aof
s beingo hig
Paris9ool'.her g
BondsAtu7 ra
tef. the
csau
oßonce a a
Bourse
oet
tll,°olo:syfb.eg.i general
a aOrleans are £Ol. higher, at 740 f.; Marseilles 50f.
Laty3oonos,e; and
Northern, Bordeaux,.
sfrd3e3aux.:
4001., 2921. 500 , and 205 f. Very little business done.
BUSINESS DONE IN FOREIGN RAILWAYS AT THE

LONDON STOCK EXCHANGE, Alestcia 16.
Boulogne and Amiens, 4% —Central of France (Orleans
and Vierzon), 6—Northern of France, 214—Orleans and
Bordeaux, 131—Paris and Lyons, I—Paris and Orleans, 25
—Paris and Rouen, 131/2—Rouen and Havre, 7IA.

THE COLLIERS.--Yesterday a deputation from the
general body of miners waited upon Mr. Dixon's workers,
and, we understand, succeeded in inducing them to strike
work till an arrangement should be come to between the
men and their employers.—North British Mail.
RELIEF or POOR.—Yesterday the rector and
churehwar&ns of St. Sepulchre, Snow-hill, distributed
meat, bread, coals, flannel, and money to two hundred
indigent families at the parochial church. And, on Wed-
neseay, the Grocer's Company distributed at their Hall
in the Poultry 1001. to the poor.

MARKET NEWS.-(THIS DAY.)

CORN-EXCHANGE.-FRIDAY.

Since Monday the supply of English Wheat fresh up
for our market, coastwise and by land carriage, has
been very moderate, and from the damp state of the
weather greatly out of condition. Seleoted parcels of
both red and white were in steady request to-day at full
prices, but the middling and interior kinds were a slow
inquiry. For dry foreign wheats there was an im-
proved demand, and seine of the holders re-
fused to sell except at higher rates. The busi-
ness doing, however, was by no means extensive.
Malting Barley was rum, but grinding and distilling
sorts were somewhat neglected. In prices, we have no
change to notice. Malt was in moderate request, and
prices were well supported i❑ every instance. Beans,
Yeas, and Indian Corn, ♦ery dull. Fine Flour was held
at extreme currencies. The top price of English was
46s per 2801hs.

Wkoat.
3,340 qrs.

English ......
Irish...
Foreign .• •• •.

Oats. I Fleur
5,260 qrs. I 4,430 sits.
4,200 I
--
11,140

DIED.

At Bedford, Mr. Richard Francis, aged 66.
On the 10th Inst., at Brighton, Emily Catherine, the
youngest daughter of Sir James ltivett Carnac, Bart.
On the llth inst., at Adam-street, Adelphi, Francis Naab,
Esq., aged
On the 13th inst., Benjamia Currey, Esq., of Old Palaces
yard, aged 62.
On the 18th inst., at St. Leonard's Cottage, near Exeter,
Charles John Lawson, Esq.
On the 13th inst., Mr. T. Cooke, of Hereford, aged 61.
On the 15th inst., Sarah Sophia, the wife of William Henry
Bodkin, Esq., of Mansfidd-street, Cavendish-square, bar-
tister-at-lms- , aged 55.