The Sun.
London, England, 1861-12-19 00:00:00

FRANCE.

PARIS, WEDNESDAY.
The Senate met yesterday—M. Troplong in the
chair. M. Baroche, Minister-President of the
Council of State; M• Billault, Minister without
portfolio; M. de Parieu, Vice-President of the
Council of State ; and M. Vuitry, President of
Section, took their places on the seats appropriated
to the Government Commissioners. The order of
the day was the reading of the report drawn up by
M. Troplong in the name of the committee ap-
pointed to examine the Senatus-Consultum intend-
ing to modify Arts. 4 and 12 of the Senatus-Con-
sultum of Dec. 25,1852. The document commences
in these terms :
" Gentlemen,—For the second time in a year the Em-
peror has called on the Senate to deliberate on measures
calculated to extend our constitutional guarantees. In the
month of December last, the field of discussion in the Senate
and the Legislative Body was enlarged; and now you have
to occupy yourselves with the control of the finances and
now means calculated to render it more efficient. the na-
tion regards with interest those important labours of the
Senate, and its gratitude is warmly expressed to the Sove-
reign, who knows how to call them into existence with that
happy appropriateness which is the genius of Government,
and with that boldness which is only the prudence of the
man who reads the future.
" However, gentlemen, there is now no more than the re
was a year ago, any question of quitting the path traced out
by the Constitution of 1852. That Constitution has a cha•
racter which is clearly defined in our organic plebiscites.
It reposes in its fundamental bases on a former
contract, which the national popular assemblies
have stipulated, and which they alone can modify.
" But the Constitution of 1852 did not undertake to re•
store to liberty the combinations and the forms which were
crushed down in 1848 by the heavy car of revolutions; far
from that, universal suffrage, whose voice still resounds in
our ears, has declared them incompatible with the wants o

a society which democracy guides, but which dreads abysses,
and which is resolved not again to fall into any by the
powerlessness of the pilot and the weakness of the rudder.
No doubt the country must obtain all franchises which it
can support without injury to itself; but the Government
also must not lose any of the attributes which constitutes its
liberty, and which necessarily belong to its authority. This
was forgotten after 1789, but we are too near 1848 for it
to be again lost sight of.

"It is thus that the Emperor himself has understood the
respective situations.

" It follows from these observations that the measures
proposed deserve all the favour of the Senate, if, as we think
with the Emperor's Government, they are only improve-
ments of, and not deviations from, the Constitution of
1852, and its mechanism.

" The first of these measures is as to the mode of voting
the iudget by the Legislative Body. The article of the
draft submitted to your deliberations, proposes to you to
make a modification in Art. 12 of the Senatus-Consultum
of the 25th December, 1852, which has regulated this point.
The Senate will perhaps be kind enough to call to mind
that the reporter at the latter epoch was the same as on
the present occasion, and it is on that account that I owe to
you the honour of now expressing the opinions of your
committee,"

The repot then examines at considerable length
and with greet ability the manner in which the
Budget had been voted under preceding Govern-
ments from the time of the First Empire down to
the Revolution of February. That part of the
document is afterwards summed up in this manner :
" Under the monarch of Napoleon I. the right of voting
the taxes existod, but it was limited through not taking
cognisance of the cause. It wanted the condition required
by the principles of 1789 for the vote to be free, namely,
the priof of the requirements and the discussion of the
means.

" Under the Parliamentary system the control, on the
contrary, was excessive ; but it was wanting in the princi-
ple of authority proclaimed in 1852 ; it disturbed the har-
mony of the powers, and gave to the Chambers, sometimes
even to the commission, attributes belonging to the Crown.
" These two systems do not suit the monarchy of the
Second Empire, which will not have absolutism either in
power or in liberty."

In the case cl preparations for war which would
require secrecy in the face of great rerils from
abroad, the committee considered that the system
of transfers would be of paramount utility, but such
measures it believed could never remain long con-
cealed, and when light should at last break in on
what was going on, the best plan wouldbe to boldly
assume the clear position which belongs to a Govern-
ment supported by the sentiment of the country.
The report terminates as follows :
" Gentlemen, our task is very nearly terminated. We
should, however, consider it incomplete, if we did not
endeavour to show the political signification of the measure
by which it is recommended to your attention. The measure
is only a change in the form of proceeding ; it is not the
disavowal of a glorious past, and we must net allow imeres-
sions to exist calculated to create the belief that it was con-
ceived in consequence of accumulated =harassments, and

not in the full liberty of a Government, master of existing
circumstances. (Approbation.)
" After ten years the Government modifies its line of
conduct by a new step in advance; it does not condemn
itself in the acts which marked its accession.
" The law of the 25th June, 1811, ordered numerous ex-
traordinary works of general utility. That law was, so to
speak, a noble page in the history of that epoch. To exe-
cute the works, it was necessary to submit to annual defi-
cits, to contract loans, to increase the floating debt, and to
augment the budget from year to year. In January, 1818,
the floating debt was 630,793,609 f. ; a loan of 350,000,000!.
was negotiated, and, let us remark in passing, it could not
be entirelyrecovered : not less than 800,000,000 f. were added
to the public debt, and the budget, which in 1830 was
975,044,745 f., attained the figure of 1,426,110,170 f.
" The public expenses since 1852 have considerably in-
creased, and the loans have exceeded the bounds where the
preceding monarchy had stopped. But the France of
1852, strengthened, pacified, and restored by the 2d of
December, is no longer the France of former days, and
she can no more keep herself within the budgetary limits
of 1830 than 1830 could within those of 'B7. Her ca-
pital has more than tripled, and her riches eclipse all
that was ever before known ; she has seen her glorious flag
astonish Europe, and float on the walls of Sebastopol. Her
policy and her arms have realised the great design, perhaps
the dream, pursued since the time of Charles VIII., of an
Italy released from a foreign yoke. Our soldiers have
caused the extreme East to tremble ; Syria has hailed them
as deliverers ; Rome receives them as the guardians of order
and the protectors of the Holy See. Is the money, there-
fore, badly spent which serves to pay for so much glory,
grandeur, and generosity ? England saddled herself with
a debt of several milliards to endeavour but in vain to stifle
the French revolution ; and we, we have been imprudent in
borrowing two milliards to raise to the highest degree the
name of France, to resume the series of our victories, to
carry to the ends of the world our civilisation and our influ-
ence, and to crown our secular tendencies beyond the Alps
by the miracle of definitive success. (Approbation.)
" At the same time, the extraordinary works carried on
in part by about 500 millions obtained from credit under
different forms, have diffused life through the provinces,
41-,..-rrtt, I which had become too small, and
multiplied all the means of
a country, facilitate commerce, and diminish the expense
of carriage and travelling. From 1848 to 1860, that is,
in thirteen years, four of which only belong to the Re-
publican Government, and were subject to its uncer-
tainties, 863,365,057 fr. have been devoted to new
works, roads, bridges, rivers, canals, seaports, reclaim-
ing of downs, plantations, and railways ; and further, what
the State has applied to railways has led to an outlay by
the companies of 2,935 millions. This result which, taking
the yearly average, exceeds the proportions of works exe-
cuted during the 17 years of the monarchy of July, must be
regarded as a compensation for the addition to the debt ;
for, if the interest of the public debt has been increased,
the annual benefit to the country has been far greater owing
to the diminution of the cost of conveyance of goods and
passengers, and to the impulse given to trade, manufac-
tures, and agricul ure. (Renewed approbation.)
"A Minister of King Louis Philippe declared from the
tribune that the public debt was not large enough in propor-
tion to our wealth, and he was right, on condition, how.
ever, that the funds borrowed be applied to productive
works. The loans which are transformed into roads,
bridges, railways, canals, &e., procure the country con-
siderable economies which the interest paid for the capital.
" Thus, Messieurs, these 2,000 millions borrowed for
war; these 500 millions borrowed for public works, bring
them a signal justification.

" Apprehensions have been felt on the subject of the
floating debt, which now amounts to 879 millions ; but the
floating debt was larger in 1855, 1857, and 1860, and France
suffered no embarrassment on that account. Can France
be alarmed by these 879 millions ? She had in January,
1848, a floating debt of 630 millions ; are the 879 millions
of to-day so very far in excess of that sum, when we take
into consideration the increased wealth and the progress of
the country ? It should also be remembered that in these
879 millions there are 652 millions accruing from deficits
anterior to 1852, and not imputable to the empire, and 78
millions which served for the conversion of the Rente, in
laying off creditors who preferred to receive their money
instead of the new stock. The other 100 millions have been
employed in the expedition to the East and the occupation
of Rome.

" Now, Messieurs, these are the faults of the Empire.
Who, at the present moment, would wish that they had not
been committed ? Who would wish to efface Sebastopol,
Magenta, and Solferino ? Who would wish to see France
deprived of her new weapons of war and her transformed
navy, her railways, and so many other improvements, great
and small, which would ere while have been considered
luxuries, but cannot now be regarded even as superfluities,
to such an extent as the taste for the comforts of life ren-
dered them necessary ? (Marks of assent.)

" If those are faults, a Monarch less reserved than the
Emperor might say with Scipio, 'Let us ascend the capi-
tal and give thanks to the Gods.' But he employs different
language, and making what Montaigne calls a pause in his
strength, he says, not let us stop, for France cannot do so,'
but let us charge our route, and moderate even our pas.
sion for the people's welfare,'—a prudent resolution, espe-
cially in questions of finance.

The report, which was listened to throughout with
earnest attention, was loudly applauded at the

close.

BOURSE, Dec. 18.—The market has been more
buoyant, and a fair amount of business has been
transacted at the closing prices of yesterday. For
the Account Threes are now at 67f 40e. Railways
also firm, and some lines rather higher.
The following are the last quotations :-
41 per per Cents ... 94 50, Credit 1' oncier
Do end Belgian 41 99 50
3 per Cents
Do. end month 67 40 Roman
Bank Shares 2960 Austrian
Credit Mobilier.... 721 251 Spanish Threes —
Do. Account 722 501 Home Debt .. 47 50

31R. COBDEN ON THE 431 ERICA N

CRI,s IS.

(From the Brighton Guardian.)

The following letter has been received by our
townsman, Mr. Henry Catt, in reply to one invit-
ing Mr. Cobden to attend a forthcoming meeting
at Brighton for the purpose of advocating arbitra-
tion in the existing dispute with America:—

Midhurst, Dec. 16, 1861.

My Dear Sir,—l regret that I cannot accept your
invitation to be present at the meeting to be held
next Monday condemnatory of a war with Ame-
rica. When asked I o address public meetings, my
plight, just now, is that of a man who, having
sprained his ancle, is invited to enter the lists for
a foot race. Though the state of my health in
other respects is good enough, I am prevented by
a local affection, for the present, from public
speaking.

But I am gkd to hear that the working men of
Brighton are promoting a meeting on the American
question. The object of all rational men and true
patriots at this moment should be to enforce upon
the Government that principle of mediation or
arbitration which was proposed by the British
Plenipotentiary and sanctioned by the Congress
of the Great Powers at Paris in 1856. The pro-
tocols of the Conferences then held, which were
laid before Parliament at the time, but to which
few persons have now access, disclose to us the
excellent motives alleged by Lord Clarendon for
proposing this " happy innovation," which he
designed as "a barrier against conflicts which
frequently only break forth because it is not
always possible to enter into explanation and
to come to an understanding."
The question thus enforced in the name of the
British Cof-crnuieut was solemnly dobated, every
Plenipotentiary taking a part, and was adjourned
for two days to enable Count Orloff to obtain the
" definitive adherence" of the Russian Government,
when the following declaration was unanimously
agreed to :

" The Plenipotentiaries do not hesitate to express,
in the name of their Governments, the wish that
States, between which any serious misunderstand-
ing may arise, should, before appealing to arms,
have recourse, as far as circumstances might allow,
to the good offices of a friendly Power."
Now, is it pcssible that any case will ever arise to
which this principle of mediation can be more appli-
cable than the present? In perfect ignorance of what
the answer of the American Government may be, I
will assume the worst,—that they refuse to surrender
the captured envoys, and offer to justify their course
by appeals to international law. What can be
more within the scope of the Paris resolution than
that where two interested parties differ on a subtle
point of international law it should be referred to
the decision of a disinterested third Power ?

Looking at it even with a view to a practical re-
dress of our present grievance, what other course
offers so good a hope of success ? The object
desired is to place at liberty gentlemen who were
taken from a British vessel. I happen to know
Messrs. Slidell and Mason personally, and to the
latter I am indebted for many courtesies at Wash-
ington ; and, although, as they must know, I can
have no sympathy for their cause, few persons
would more rejoice than myself to see them released
from an irksome confinement. But assuming that
to effect this object we declare war against the
Federal States, and that these gentlemen are in
consequence transferred from Boston harbour to the
interior, does any one acquainted with America
believe that it would be possible for England to
release them ? We could destroy each other's com-
merce and spend countless treasure, we might pour
out blood like water, and ruin for a generation two
great civilisations, but the object aimed at could not
be accomplished.

On the contrary, if we submit the question to the
adjudication of a third Power, the first step will be to
place the two envoys at the disposal of the recpgnised
tribunal. Should it be decided that they were ille-
gally captured, they will be released ; if their seizure
be pronounced justifiable by international law, they
will be liable to detention as prisoners of war only,
and not as rebels, for the Government of Washing-
ton can have no right of appeal to the law of nations
in justification of their act except by acknowledge
ing the belligerent rights of the South.

But it has been said that the Washington Go-
vernment wish to insult us, with a view to provoke
a war. There may be traitors or madmen in the
North who would like to sce their Government in-
volved in the embarrassment of a war with Eng-
land ; but that a Government and people, who re-
quire at this moment half a million of men in arms
to meet a civil war and guard their capital, should
look with anything but dismay at the prospect of a
war with the most powerful maritime State in the
world is too monstrous a supposition to be seriously
believed by those who pretend to entertain it.
At all events, the true test of the disposition of
the American people will be the expressed willing-
ness on our part to resort, if necessary, to the
mediation of a third party. Should such a concilia-
tory step meQt with no better response than a de-
sire to insult and wrong us, we should be united as
one man to repel the outrage ; and, unless the
solemn declaration of Paris is to be impotent for all
practical good, and a mere dead letter, all the
Powers of Europe would in such a case be ranged
on our side, and ready to brand with outlawry a
nation guilty of so barbarous and wanton an aggres-
sion.

Entertaining these views, I recommend the work-
ing men of Brighton, and all who take part in
similar demonstrations, to raise their voices in
favour of arbitration. The cry for peace alone is
hardly enough at the present moment. What we
require is peace on the principles of impartial jus-
tice ; and the truest way of insuring this in case of
dispute, whether in the affairs of nations or of
individuals, is by calling in the services of a disin-
terested arbitrator.—l remain, very truly yours,
Henry Catt, Esq. R. COI;DEN.