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 :
" Art. 1. The privilege conferred on the Bank
by the laws of the 24th Germinal an XI., 22(1
April, 1806, and 80th 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 .epro-
sented by 91,250 shares, 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 shill
be exclusively allotted to the holders of the 91,250
actually existing, who shall p•ay for them to t
Bank 'et 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 share%
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 brafiches,
and the real property of the Bank. Thesa
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 inalienable,
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 I,tw 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 Caisse d'Amortissement, the amount
of rente necessary for the employment of the
100;000,000f. 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
preceding 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 the nominal capital of the said rents
shall be added to the dotation of the Caisse d'Amor-

,ssement.
" Art 6. The clauses and conditions set forth
in the treaty annexed hereto, signed on the
between the Minister of Finance and the Bank
of France, are approved of."
The treaty referred to is as follows :
" Art. 1. The 100,000,000 f. which, in execufe*
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. Af er
each of these payments, the Treasury shall deliver
in proportion
to the Bank, at the average quotations of the pre-
amount to
cedieg month, an equal sum in inscriptions of 3
3h ewhich Treasury,
mays
a r
per cent. rente on the State.
" Art. 2. In return for the advantages which
the Bank derives from receiving in account-current
the disposable sums of the Treasury, the Bank en-
-80,000,000 francs, including the 55,000,000 francs
mat:at:eel
rerr.a,ining to be reimbursed of the loan prolonged
by the treaty of the 3d March, 1,852. The mini-
mum of these advances shall be reduced to
60,000,000 francs by means of annual reimburse-
ments stipulated in the said treaty. Treasttry bills,
renewable from three months to three months,
gtoageitissitwsealnf wants,
shall be delivered to the Bank in guarantee of its
advances.
" Art. 3. The sum 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 which it
shall be really debtor.
" Att. 4. The interest of the account-current
thus established shall be regulated at the rate fixed.
by the Bank for the discount of commercial bi ls,
but without exceeding 4 per cent.
*" Art. 5. If the Treasury should retire its fu'ndst
in account current, the Bank shall be freed from
the engagements it contracts by the present treaty.'
:ood __-.••••••..............

PRICE or GOLD.—The quotation of gold at Paris is
about 4 per mills premium, and the short exchange on
London is 25.25 per 1/. s.terling. On comparing theie
rates with the English Mint price of 3/. 17s. lOid per
ounce for standa,d gold,. ft appears that gold is ne Le.ly
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 `exchange on London is 13.31 per
1/. sterling. Standard gold at the English Mint price is
therefore about 3.loths per cent. dearer in Hamburg
than in London. The course of exchange at New Yorkon
London for has at 60 days' sight is 1081 tolo9 percent.,
which, when compared with the Mint par between the
two countries, shows that the exchange is against Eng.
land ; but, after making allowance fore t
of trans-
port and difference of interest, the present rate leaves no
profit on the transmission of gold either way between
England and America.