The Sun.
London, England, 1861-10-28 00:00:00

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rather than
reckless extravaaneu oithe-F; -ncil
(From .the Money Manta `Rev.
It would:appear-that the-French financiers are
still.bentrpon,adopting'etPedientS' end palliattives
alone bring relief. It has lona been-cK.,ar than the
sound and ratlicalineasares, which
raisedt
its expuoditure would s t about
,quent-drain of, bullion falls heavily on.
crisis. French journaibo,toner or later bring
~a
e are attributing (and. Lo
.a
certain extent justly) tl
tins to a defitient harveslet.prcint fipanelal diffi,eu.l.
4rance, they .say, Nall
have to . purchaae.f ;
,ore. n f _wheat to the extent of
* £10,000,000 or' .£l2,ootf overnment in
000 sterling The conse-
to 7 had not. the Vrovernment interfered
France, who very properly have '
have the Government interfered ? This
discountto 6 per P,Ant., and wo 111
u hove advanced it
to
ohe
0.
sßtroaanot Bank of
the
ff
why have
the whole matter. The answer is
their--
Because
fear being called upon to pby off their Treasury
Bills, the interest on which they have already been
obliged to raise 1 per cent. in a fortnight, in order
to keep them afloat. The Government are also
afraid to let the Bank of France take those Irani.
mate measures which they otherwise would ad pt,
viz., sell b'Ecurities, and raise the rate of discount
further—because prices on the Bourse would be in-
fluenced, and the resources upon which the Govern-
ment have hitherto rested tolenver their ceaseless
deficits would be cut off. Palliatives must, further,
be. resorted to, lest 'the, host of small .fundholders
whom Louis Napoleon has -created and favoured
withessues of stock at low prices should take alarm.
The
.Government, from their hand-to-mouth system,
have always been dependent on the Bourse to a peril-
ous degree, and they are now coddling it up in all sorts
of soothing ways, with the sole object of putting offt he
evil day. The expedient:Si adopted by the Bank of
France are various, and we have probably not yet
seen the last of them. A credit with English houses
is opened to the extent of £2,000,000 sterling: and
the Bank of .France,in:order to stop the drain of
gold to England, sell the bills on London to per-
sons indebted to England at an exchange which
renders it more profitable to them to buy the bills
and send them to London than to send gold. This
is the transaction in its Simplest form. A similar
operation has, we believe, been adopted to a smaller
amount with Hamburg. It is further rumoured
that an arrangement is attempted to be negotilted
with Russia, whereby it is proposed that the Rus-
sian Government shall come to an understanding
with the Russian merchants who have sold corn to
France, and pay them for it by an issue of notes of
the State Bank, or in Government Four per Cent.
Treasury Bills.. It is then proposed that France
shall repay the Russian Government in Russian
coin, which the French Mint would supply. Thus,
assuming that France was indebted to Russia for
corn to the extent of £4,000,000 sterling, the pro-
cess of coining the,silver would occupy the space of
a year, and France for that period would virtually
have a credit.

PR,ECE .4d.
STAMPED ....sd.

THE NEW BANKRUPTCY ACT.

frightened Some
last
t wo ozf 0 our,
(y7o
nt h e contemporaries,
long
Gazettes.
list
They
ho
ef
y bankruptsh appearave t o be a
sr
bir
in the
at
therihs
magnitude to the unsatisfactory state of the retail
trade of the country, which is in many parts
doubtless unfavourably affected! by the general
slackness of business and diminution of trade. But
this length of the recent Gazettes is not due to
this cause, but to one far less lamentable.
The recent act, since the legal operation of which
the two last Gazettes only have been issued, tends
to augment the list of bankrupts in no leSs than
four ways. 1

First—lt gives creditors under a bankruptcy that
entire power and full control of their own affairs
which before they only enjoyed under a private ar-
rangement. Bankruptcy, moreover, is not now
irrevocable. It may Be superseded at the pleasure
of the creditors, and the estate wound up privately,
if they think fit at anymoment. This great advan-
tage will necessarily swell the list of bankrupts.
Secondly—It deprives private arrangements of
tliat secrecy which before led not unfrequently to
their being preferred to a bankruptcy: All arrange-
ments which are to. be binding on bon-signing cre-
ditors must now be advertised in the London
Gazette,

Thirdly—The bankrupt law now includes non-
traders as well as traders. It is true that the acts
for which a non-trader can be made a bankrupt
are not so numerous as those for which a trader can
be so made; yet still a non-trader can now be made
a bankrupt, which he could not before. "

Fourthly—The diminished cost of bankruptcy
proceedings will, it is to be hoped, bring within the
scope of the law many little estates which before
were wholly beneath its reach. .
These four causes are quite sufficient to account
for the augmented number of bankrupts, without
any aid from the imagination that the trade of the
country has upon a sudden become unsound.—
Economist.

Such is one of the schemes spoken of. One diffi-
culty is, that tha Russian Government are hardly
in a position to carry it out. When we consider
the state of the Russian exchanges, it is. evident
that the issue of some. millions sterling of paper
money in Russia would have a very bad effect_
Again, the French capitalists hold a very large
amount of the New Italian Loan.. The palliative
adopted in this case is an application to the Italian
Government to partially postpone the instalments,
and this has been acceded to. If the French
Government really wish to avert a crisis, there is
but one measure that will completely and perma-
nently obviate it, and that is a great reduction of
their enormous expenditure, which is slowly but
surely sapping the foundations of the prosperity of
France, and paving the way for a crash.
Ultimately, we have little doubt, the present dif-
ficulties will be patched up by a State loan ; but
palliatives and expedients will not last for ever,
and it is only by a disarmament that the evil can be
permanently stayed and real confidence inspired.

THE THEATRES OF PA.RIS.

Of the seven theatres which are to be swept away
by the Boulevard du Prince Eugene, the Revue
Illunicipale gives the following historical particu-
lars: 1. The Petit Lazzari was in 1789-92 the Theatre
des Varietes Amusantes. This soon fell into the
hands of an Italian, named Lazzari, who played the
part of harlequin with such grace and suppleness
that he became quite a favourite, and the public,
consigning the real name of the theatre to oblivion,
thenceforward baptised it Lazzari. This theatre
was burnt down in 1798, and poor Lazzari, in a fit
of despair at this accident, committed suicide.
Under the Restoration a theatre for puppets only
was erected on the Boulevard du Temple, and called
the Petit Lazzari, to commemorate the harlequin of
pdwroTfurohaseer_selmtaaeissenetusrruteeecrdmoiasdeeyaden:. This theatre in 1830 exchanged its
wooden actors for others of flesh and bone. 2. The
s
succeeded
C.
Abow:ymns
was
sqclhi
c7uee
19esocs5sl
eeiwsdvt theawriincnandhs sal:811o:
oenol
flourished
harlequin
iihyns
Theatreeh
aesnsdail l eien
Imperialo
when
ah7t neh6 sr
ise
under a manager of the name of Beauvisage, who
i
7
the theatre assumed the name of Theatre Patriotiquo
decree, and transformed into the Cafe d'Apollon ;
but in 1815 Madame Saqui obtained leave to per-
form rope dancing and pantomimes there, which in
1830 were exchanged for vaudevilles. The old house
was pulled down in 1841, and rebuilt in three
months, when it assumed its present name. 3. The
Funambules was formerly exclusively devoted to
rope dancing, as its name implies ; but since 1830
vaudevilles and pantomimes have been performed
there. The concern was sold for 400,000 f. a short
time ago. 4. The Gaite was also in 1759 a theatre
for rope dancing, under the celebrated Nicolet, who
attracted all Paris to his show by the drollery of
his performances, enhanced by farces of question-
able morality. The directors of the Opera became
so jealous of his success that they obtained an order
in 1769 restricting Nicolet's performances to mere
pantomimes But this restriction did not last long.
In 1772 Nicolet performed before the Court at
Choisy, on which occasion the Countess Dubarry
was so well amused that she caused the title of
Theatre des Grands Danseurs de Roi to be conferred
upon this establishment. Nicolet set his brother
managers the first example of generosity by giving
the profits of a night's performance to the sufferers
from the fire which in 1777 destroyed all the booths
of the Foire St. Laurent. His theatre assumed its
present title in 1792 ; three years later it was called
theTheatre
name
ad '
m e ofE m ul a
La
Gtaite,
ao nt
e, but
liN9Bi c. o I
Theet ' s,
nr,
celebrated
wasuhed ow
rwt
performed
same
rrmenefdose t orey.amBieore
asyddr,
ahbp
tuei erracenect
oidns to calledwlosnf 0 t6i4hn.4e31,,T80,
3hoPiedsoe,
t.a
ntheatredd Moutons
rebuiltw a
5. The Theatre des Folies
Dramatiques has no history of interest to boast of ;
it was built in 1831 by M. Allaux, the inventor of
the Neorama. 6. The Theatre Imperial (ancien
Cique) was founded in 1780, by Astley, for eques-
trian performances ; it was taken in 1794 by Fran-
coni, who in 1802 transferred it to the old, convent
of Capucines. But five years later the Rue de la
?six was run through the grounds, and Franconi
had to migrate, first to the Rue onthabor, and
then once more to the Boulevard du Temple, where
he erected the Cirque Olympique. This was burnt
ißda
present
swwfr
encirbneuut
buildings
st6ot,
wfchhTaeeasnrhnctedeogaoandefrt
cdereterebhrisilpwnt
poiaelrin
ilrnt
beaateluht
B.O:Cr
tfdah7honea.
asslnttofTgiewonrhe
frieouned:gd theatrehdtt year.
oeeo
raettraihrterees..
opposite, as our . know,
tAphlleaecxdeartanhmderaeTchaellaetdr Dumase
andLLy ar qRO ut
ehei,enrwes
Margot,"
rt
ow:
ocar:B, builto
Which
he vi
cabhryahlkaalda.
Temple, in. 1846, under the name of Theatre His-
torique, and opened with the East representation of
considerable success.