The Sun.
London, England, 1821-12-03 00:00:00

SF'S iOIIS

I. The Public Debt and Sinking Fund inseparably connected
wittk it.
2.. The Civil List, or charges of the Throne and Royal
Family.
3. Life Annuities, and pensions of every nature.
4. The expences of Ithe ditferent,Departments of the Admi-
nistration.
5. The expenses of collecting the direct Taxes, and of the
Financial Boards.

We proceed to pass in review each of these
principal divisions, and their most important sub-

divisions of the finances.
The charge of the Consolidated Debt is
228,864,560 f., and presents, comparatively with
the sum which the Budget of 1821 assigns to the
same service, a diminution of 188,201 f., not-
withstanding an augmentation of 1,080,370 f.,
necessary for a half-year of the new rentes, which
have taken, and will take the place of the inte-
rest of the Ist and 2d fifth of the reconnaissances
of liquidation, and for a half-year of inscriptions
required_ by the liquidation of the arrears pre-
vious to 1810. This increase of 1,080,370 f.
is counterbalanced by the non-payment of
1,268,574 f., making part of 1,468,574 f. of
rentes upon the ancient domain extraordinary,
of which 1,068,574 f. have been extinguished on
the 22d of Sept. last, and of whicl► 400,000 f.
will be cancelled on the 22d of March next, in
execution of the law of the 26th July, 1821.—
The account which presents the charges of the
COnsolidated Debt for 1822 explains its varia-
tions. They have all been foreseen and provided
for by laws.
The charge of the Civil List and of the Royal
Family, fixed at 34,000,000 f. is placed beyond
discussion.

The annuities and pensions inscribed are sus-
ceptible of as little. They partake of the in-
violability attached to the consolidated debt.
—The annuities carried to the budget of 1821
for 10,300,0001. are included in. the budget of
1822 for 10,400,0001. The extinctions are pre-
sumed to be 400,0001.
We estimate at 1,342,925 f. the diminutions
which we expect upon the pensions, whereof the

sum total of 62,621,80. d. will be augmented for
IS'22, conformably to the dispositions of the law
of the 2601 of July last by the sum of 1,800;000f.
fur the dispossessed French donatories. But
this addition is counterbalanced by the cancelling
of 1,468,574 f. of annuities AI hich belonged to the
ancient domain extraordinary, and by the can-

ceiling of those which will be successively ac-
quired with the resumption of the revenues of
this domain and the produce of the sale of its
estates. As in 1821, the credit demanded for
the supply of the funds for the support of the
Legion of Honour is 3,400,000 f. and 10,000,0001.
for the discharge of the interest on money depo-
sited as securities.
All the charges, Gentlemen, which we have
thus far submitted to you, amount to the sum of
351,086,360 f. They are necessary. They may,
experience some variations, but are not suscept-
ible of any diminution on the part of those who
administer them.
The charges of Administration are of a dif-

ferent nature. It is useful sometimes to contrast
and sometimes to extend them, in proportion as
the services which they pay may deserve the cost,
for on the exactitude in this proportion depends
whether an expense is profuse or not. Among
the items of increase some are necessary, and
required by the laws which established them.—
Others are salutary for their production of con-
servative results.—A third class is demanded by
political circumstances of higher importance than
the saving of them would be ; the different
charges of Administration, which exhibit, in
some instances, augmentations, and in others re-
ductions. The Presidency of the Council of
Ministers remains fixed at 180,000 f.
The Ministry. of Justice would not have re.
qoired more than 17,879,500 f., as in 1821, if the
law of the 31st July last had not added a seventh
Chamber to the Tribunal of First. Instance, in
Paris : and if, consequently, it had not been ne-
cessary to augment the number of counsellors in
the Royal Court of this capital.—The Ninistry
for Foreign Affairs requires an increase of
15,0001. over the budget of 1821, which carries
the total charge to 7,870,0001.—The Miqistry of
the Interior, the expences of which are more un-
certain than the rest, requires an augmentation
of 3,145,814 f., which increases its charge to
112,085,000 f.
Of this augmentation the execution of the late
laws concerning the clergy, the canals, and the
port of Dunkirk, absorb 1,500,000 f. The ex-
pence incurred for the encouragement of the fish-
eries, for_improving the breed of horses, and for
the departments, require 60,979 f., and the re-
mainder is appropriated to the public works, the
prolonged imperfection of which, besides so many
private houses which are finished iu one year,
would authorise, against the Government, a charge
of carelessness or want of power.
The department at the War Ministry would
have incurred a considerable augmentation for
18e2, the year in which the troops receive their
new clothing, if, in its contracts for subsistence

and forage, this department did not hope to make 1
savings, which will in great measure counterba-
lance this charge. The increase' necessary, there-
fore, is limited to 1,735,4001., which carries the
charge of that department to 176,472,000 f.
The Ministry of the Marine, whose vote of
credit in 18'21 was limited to 52,980,000 f., de-
mands an increase of -7,0'20,000f. for the year
1822. Nobody has denied the necessities of this
department, which, for too long a time, has
wanted the requisite means, not only to restore
its materiel, but even to preserve that which re-
mained. If the French marine, by the peace,
has been relieved from the necessity of support-
ing a warlike attitude, it cannot renounce the
duty of preserving one of observation and assist-
ance, both in our ultra-marine establishments
and in the seas where the absence of our flag

would compromise the interests or the safety of
the King's subjects. The augmentation required
by this department will be appropriated to the
double purpose of putting our ships in a state of
complete repair and equipment, and of enabling
us to send succour to all parts of the world
where our commerce or the interests of humanity

demand protection.
The Ministry of Finance presents a reduction
of expence principally as regards the charges of
negociation and those of the central administra-
tion. A sum of 50►000 francs is proposed for the
reconstruction of the mint of Nantes. This is

only the carrying into effect of a credit obtained
in 1819, which, not being employed in that year,
must have been annulled by the law of last
April 23, relative to the definitive settlement of
the Budget of 1519. The survey for determin-
ing the land-tax is only estimated in the expellees
at 1,000,000 f., and the charge for the collection
of direct taxes presents a diminution of 774,205 f.
—To sum up this section, the Budget of 1821
assigns for the charges of collection and adminis-
tration a sum of 136,871,285 f., whilst that of
1822 amounts to 138,846,880 f., being an excess
in the latter year of 1,975,595 f. This difference,
for the most part, should not be considered as
an increase of charge.
The sum total of the general Budget of expert-

diture amounts to 589,541,340 f. and presents an
increase of 7;306,066 f. only over the Budget for
1821.—The charge of the marine alone, of which
you know the urgency;.absorbs this sum ; and
we have found in the reductions the means of

supplying other services with more than ten
millions, both in order to comply with the laws
creating new charges, and for aiding the different
necessities which I have mentioned.
After having enumerated the charges of the
State, we must now, Gentlemen, present a view
of the resources by which they are to be met.
The estimates drawn up for 1822 of the dif-
ferent products of taxation differ very little from
those for 1821 ; and the realization of their
amount, according to the calculation then formed,
gives the best assurances with respect to their
future productiveness.
The administration of the Royal domains and
forests, the income of which has been estimated
for this year at 176,300,000 f. permits us to
hope for an increase of 365,000 f. for 1822. The
produce of the customs, salt duties, and indirect
taxes, is estimated as in 1821. The produce of
the post duties is estimated at 410,000 f., and
that of lotteries at 1,000,000 f. short of the last year.

The drawback on salaries, which figures a
2,800,000 f. in the Budget of 1821, was part of
the relief granted to the public by the law of
July 31, and cannot be reckoned at more for
1822. The relief of a half, granted from the land
tax in 1821, and continued in 1822, will esta-
blish in our receipts a diminution of 13,675,583 f.
Finally, the Treasury which enjoyed rentes, the
arrears of which entered into the estimates of
1821 at 11,219,114 f. , will not have the benefit
of this resource for the service of 1822.
This sale, gentlemen, which the Treasury has
made of these rentes, leads us to- speak of two
operations, the results of which are connected in
too many ways with the budget for us to post-
pone all mention of them till we can present the
accounts. You know, gentlemen, that the law
of March 8 had opened for the payment of the
reconnaissances of liquidation estimated at 60,
millions,a credit Of rentes amounting to 3,884,3281.
at the medium rate of 77 fr. 23 cents, and had
authorized at the same time the issuing of 60
millions of annuities, payable in six years, at the
rate of •10 millions a-year. Re-payment was
offered to the holders in money or in annuities,
at their option. There was taken in money a
sum of 1,030,895 f. ; and in annuities a sum, of
54,913,8191.
The surplus of the credit of 60,000,0001. was
reserved to discharge in money the fifth of the
ordinances issued by Ministers subsequent to the
30th of June.
Great advantages have been obtained to the
Treasury by the successive negociation of the se-
curities they possessed. Ou them has fallen the
duty of_ providing for_thq payment in specie of
very considerable sums ; such as 100,000,000 f.
to foreign Powers ; 60,000,000 f. for the reim-
bursement for the Ist fifth of the reconnaissances,
and for the four other fifths in succession. The
Treasury is rich in securities ; but it was prudent
before putting them in circulation to provide for
present wants, and to guard against any future
deficiency in funds to conduct the operations en-
trusted to them.
Their Success has corresponded with their ex-
pectations: 12,514,220 f. of rentes belonging to
the Treasury were publicly sold on the 9th of
August last, and the produce of this negociation
will be 215,118,203 f.; -but as the rentes sold re-
presented in the Treasury a sum of only
182,862,412 f., the advantage to them by the
transaction will be 31,255,891 f.
The position of the Treasury is henceforth
changed. Disengaged for a long time to come
from any species of inconvenience, it is no longer
necessary to have recourse to the issue of extra-
ordinary securities for the public service, and
this consideration has determined them to pay
the reconnaissance of liquidation in money.
For the repayment of the second fifth of the
reconnaissances there will only be demanded in
rentes a credit of 3,400,000 f. and this cre-
dit will not be definitively fixed until th'e

average price of the rentes for the last six months
of 1821 can be ascertained.

Finally, Gentlemen, the proposed Budget pre-
sents in receipt the sum of 890,000,033 f. ; ►n
expenditure the sum of 889,541,340 f. ; and con-
sequently the probable receipts exceed the pre-
sumed exigencies of the State by the- su►u of
458,693 f.
This reserve would be small and insignificant,
if it was limited to this sum ; but it will be in-
creased by the excess of resources which %vill
result from the regulation of the Budget of ex-
penditure,which we may estimate at 30,000,000.
Nothing is exaggerated in the est►mates which
we have presented to you. A rate of expendi-
ture, which in time of peace amounts to
890,000,000, may nevertheless excite some as-
tonishment. Without denying that by time, and
a consistent system of order and economy, re-
duction may be effected, we shall be less sur-
prised at its magnitude, if we consider it com-
prises more titan 40,000,000 of extraordinary
and temporary charges, which will successively
disappea►, and that tl►e Budget, which conceals
no expence,contains important articles which did
not appear in it before, such as the expences of
collecting the taxes, the produce of gambling,
&c., which form a mass of 150,000,000.
Add the Sinking Fund, a tutelary expense,
which in our system takes the character of an
annual saving of 40.000,000, already raised to
63,000,000, which forms a resource to protect
the honour of the Statti_from a breach of the
law.

The budget has, even. -in its enormity, some-
thing pleasing to the national pride, in the
thought that it could be maintained at this eleva-
tion without depriving the King of the power of
remitting :3.4,000,000 of taxes.
Such a result, at the termination of calamities,
which in any other country an age would scarcely
be sufficient to efface, evinces among us resources
triumphant over the most adverse situations.
What. other nation besides France would be able,
after what she has suffered, even up to 1818, by
war and other unhappy circumstances, to present
in three years the spectacle which she this day
offers ? Iler political engagements punctually
fulfilled ;. her territory free and tranquil ; her
commerce and industry increasing in activity ;
her Treasury always full ; her securities advanc-
ing to par; gall her capital in employment, whe-
ther to acquire, to construct, to repair, or to give
an impulse to works of public utility. Finally,
under the auspices of the Royal Government,
affairs both public and private assume a firm po-
sition, the.happy result of a peace whereof all the
world has felt the want, and will now reap the
advantages...
The spirit of order and good faith which go-
verns our financial legislation, the probity with
lich public engagements of every nature are
fulfilled, the abundance of capital which it re-
produces continually in circulation, and the pro-
gressive clearness of the public accounts, inspire
a confidence which descends to the direct credi-
tors of the State---:from theta to all those with
whom they have transactions, and from these, is
diffused through all classes of society. The ge-
neral comfort which result's from these ameliora-

tions, and the satisfaction to you of having co-
operated in tt4oing so much good, is the guarantee
of your perseverance in the same principles, and
of the constant conformity of your sentiments
with the intentions of the King.

Then follows a project of law, conformable to
the statements of the Minister's speech, which
was ordered to be printed and distributed. The
Sitting rose at four o'clock.