The Sun.
London, England, 1857-04-29 00:00:00

THE BANK OF FRANCE.

The Nord of Brussels gives the following as the
text of the bill relative to the Bank of France, sub-
mitted to the Council of State :--
- privilege co:

..terred on the BQk
erminai au' XL, 22a

Laws 01

April, 1806, and 30th June, 1840, which is to ex-
pire on the 31st Dec., 1867, is prolonged for 30
years, and is only to end on the 31st Dec., 1897.
" Art. 2. The capital of the Bank now .epre-
sented by 91,250 snareP, amounting together to
91,250,000 f., not including the reserve shall hence-
forth be represented by 182,500 shares, amounting
together to 191,625,000 f.

Art. 3. The 91; 250 shares newly created shall
be exclusively allotted to the holders of the 91,250
actually existing, who shall pay for them to the
Bank tt the rate of I,loof. per share, quarter by
quarter, within a year from the promulgation of
the present law.
Art. 4. Out of the proceeds of these new shares,
a sum of 100,000,000 f. shall be set apart for the
formation of a reserve fund, which shall be added
to that already existing, and composed of
13,000,000 f., including that of the branches,
and the real property of the Bank. These
100,000,000 f. shall, for this purpose, be converted
into 3 per cent. rente, the revenue from which
shall concur in forming the half-year's dividends.
These rentes of the reserve shall be inalieuable,
except in case it shall become necessary in order
to maintain the integrality of the disposable capi-
tal, to make up losses which the Bank may sus-
tain, and in case the profits shall be insufficient to
to supply the half-year's dividend of 30f. per share
guaranteed by Art. 4 of the law of the 22d April,
"Art. 5. The Minister of Finance is authorised
to transfer to the Bank of France in 3 per cent.
rente from the Caissed'Amortissement, the amount
of rente necessary for the employment of the
100,000,000 f. which are to be converted by the
Bank into rente on the State. That rente shall be
delivered at the average quotations of the month
preeedine, the payment into the Treasury of the
sums which are to receive that destination. The
capital of that rente shall be employed to diminish
the decouverts of the Treasury. A sinking fund of
100th part of Vie nominal capital of the said rente
shall be added to the dotatiort of the Caisse d'Amor-
tissement.
" Art 6. The clauses and conditions set forth
in the treaty annexed hereto, signed on the --
between the Minister of Finance and the Bauk
of France, itre approved of."
The treaty referred to is as follows :
" Art. 1. The 100,000,000 f. which, in execution
of the law of —, the Bank is to add to its reserve
and to convert into rente on the State, shall be
paid by it into the Public Treasury in four equal
-and quarterly instalments, in the course of a year
from the promulgation of the present law. After
each of these payment=, the Treasury shall deliver
to the Bank, at the average quotations of the pre-
cedieg month, an equal sum in inscriptions of 3
per cent. rents on the State.
"Att. 2. In return.for ,the advantages which
the Bank derives from `receiving in account-current
the disposable sums of the Treasury, the Bank en-
gages itself to make to the Treasury, in proportion
to its wants, advances which may amount to
80,000,000 francs, including the 55,000,000 francs
remaining to ba reimbursed of the loan prolonged
by the, treaty of the 3d March, 1852. The maxi-
mum of these advances shall be reduced to
60,000,000 francs by means of annual reimburse-
ments stipulated in the said treaty. Treasury bills,
renewable from three months to three months,
shall be delivered to the Bank in guarantee of its
advances.
"Art. 3. The sums which shall be set down to
the debit of the Treasury in virtue of this conven-
tion shall find a set-off in these forming the credit
of its account-current, either at Paris or in the
branches, so that the interest due by the Treasury
shall only be calculated on the balance for whigh it
shall be really debtor.
"Att. 4. Tbeo interest of the account-cttrrent
thus established shall be regulated at the rate fixed
by the Bank for the discount of commercial bills,
but without exceeding 4 per cent.
" Art. 5. If the Treasury should retire its funds
in account current, the Bank shall be freed from
the engagements it contracts by the present treaty.'

PRICE OF GOLD —The quotation of gold at Paris is
about 4 per mills premium, and the short exchange on
London is 25.25 per 1/. sterling. On comparing these
rates with the English Mint price of 3/. 17s. 104 d per
ounce for standard gold, it appears that gold is nearly
3-10ths per cent. dearer in Paris than in London. By
advices from Hamburg the price of gold is 424 per
mark, and the short 'sxchange on London is 13 31 per
1/. sterling. Standard gold at• the English Mint price is
therefore about 3.10 the per cent. dearer in Hamburg
than in London. The course of exchange at New York on
London for bills at 60 days' eight is 1084 to 109 percent.,
which, when compared with the Mint par between the
two countries, shows that the exchange is against Eng.
land ; but, after making allowance for charges of trans.
port and difference of interest, the present rate leaves no
profit on the transmission of gold either way between
England and America.