The Sun.
London, England, 1857-05-11 00:00:00

THB BAY& OF FRANCE.

The following appears in ye3terilKy's Moniteui
as the project of law for the continuauce of the
privileges of the Bank of France

" Art. 1. Tin privilege conferred on the Bank l-dy
the
laws of the 24th Germinal of the (republioau‘, year 11,
22d April, 1806, and 30th June, ,844., the term of
which would expire on the 31st Del!., 1867, id pro-
longed for 30 years, and shall not expire till the 31st
Dec., 1897.

" Art. 2. The capital of the Bank, now represented
by 91,250 shares, will be henceforth represented by
182,500 shares, each bearing the nominal value of
1,000 f., not inclusive of the reserved fund.
" Art. 3. The 91,250 shares newly created will be
exclusively assigned to the owners of the 91,250 shares
now extant, and they will have to pay the price of them,
at the rate of I,loof. per share, into the coffers of the
Bank, in quarterly payments, within the'space of one
year at the latest, dating from the promulgating of the
present law.

•
" The time of the first payment, and the conditions
on which the shareholders can be admitted to anticipate
the ulterior payments, will be fixed by a decision of the
Bank.
" Art. 4. The produce of these new shares will be ap-
plied, until it amounts to 91,250,000 f., to the formation
of the capital determined by Art. 2, and as for the sur-
plus, to the augmentation of the reserve fund now exist-

Art. 5. Of this produce, a mini of 100 millions will
be paid into the public trearary in the course of the year
1859, a
,such periods as shall be akreed- upon by the
Midster'of Finance and the Dank.
This sum will be employed to diminish any over-
drawn accounts against the Treasury.
"The Minister of Finance will transfer to the Bank
at the rate o! 75f., and in the Three per Cent. Rentes
derived from the Caisse d'Anzortinement, the amount
of Rentes necessary for the employment of the said
sum of 100 millions.

"A. sinking fund of 1 per cent. of the nominal
capital of the said Rentea shaa be added to the amount
held by the Caine d'Amoi tissement.

"Art. 6. The faculty accorded to the Bank of making
advances on Frei:eh public securities, on French rail-
way shares and debentures, is extended •to the deben-
tures issued by the Company de Crddit Foncier of
France.

"The general arrangements for regulating the mode
of carrying out the preceding paragraph will have to be
approved of by a decree.
Art. 7. The Bank of Fiance, should circumstances
require it, may add a charge for commission to the rate
of its discounts and advances.

"Art. 8. A. pablic Administrative regulation will
determine with regard to such shareholders as may
make default or fall into arrear in their payments, the
measures required for the execution of the present
m

"Project of a Treaty between the Public Treasury and

the Bank of France.

" Art. 1. The interest due upon the Rentes,' which
shall be delivered into the Bank, in execntion of the
law decreeing the augmentation of its capital, will
commence from the first day of the half year following
the delivery of these Routes, save conversion into
bonds, at the Bank at the rate of 4 per cent. per
annum for interest on the time,comprised between this
period and that of the payments.
"Art. 2. In return for the advantages accruing to the
bank from what it receives upon the running account of
the disposable assets of the Treasury, the Bank engages
for the whole term of its charter to advance to the Trea-
sury, as its occasions may require, sums that may
amount to eighty millions, incluSive of the fifty-five
millions not yet reimbursed of the loan prolonged by the
treaty of March 3, 1852.
"The mannium of these advances will be reduced to
sixty millions, by means of the yearly reimbursements
stipulated in the said treaty.
"Treasury bonds, renewable every three months,
will be delivered at the Bank as security on these ad-
vances.

"Art. 3. The sums that shall be debited to the Trea-
sury by virtue of this convention will be compensated,
until balanced, by those that form the credit of its ac•
count current, either at Pat is or at its branches, in such
a manner that the interest due from the treasury shalt be
calculated, each day, only on the balance for which it
may actuaily be debtor.
" Art. 4. The interest of the account current thus
establislsed shall be regulated according to the scale
fixed by the Bank for discounting paper in the market,
but it must not exceed 4 per cent.
"Art. 5.. Should the Treasury withdraw its assets
from the account current, the Bank would be released
from the cngageraent it enters into by the present
treaty."

AQUATICS.

ROYAL LONDON YACHT CLUB.

---
The opening trip of the above club took place last Sa-
turday, and was, as usual, a most spirited and agreeable
affair. The yachts.of the club, headed bythe Commodore
Mr. J. Goodson, who hoisted hisfiag on board the Coral
Queen, a beautiful schooner, placed at the disposal of
the club by Mr. W. Tomlin, her owner, assembled at
Belaadck atwnottslec..w
4al
p. and proceeded to Erith, against a
d
We noticed amongst the craft afloat the
Rear-Commodore's (Mr. Kirby) Violet, the. Argonaut,
Petrel, and several others. On arriving at Erith the
club dined, with between 40 and 50 members present—
the commodore presiding, and the vice occupying the
chair. The toasts proposed were, as usual, of a loyal and
Patriotic character, after which the worthy commodore
gave "The Royal London Yacht Club," associating with
it the name of Mr. Reynolds, one of its members, and
from time immemorial one of the greatest supporters of
both yachting and rowing. These toasts were succeeded
by others, well timed and ably responded to, and the
party did not separate till a late hour.