Star.
London, England, 1824-05-29 00:00:00

THE FRENCH F1N1.“.1.41. PROJECT.

The French Minister of Finance, in the course of his
speech in the French Chamber of Peers, on Monda), on
the project of law for the conversion of the Reifies, mad
the follou ;lig letter from the Bankers whose names
ate uodersie;oed:
" Nits, MAT 24.

DIYLORD—We have read with great surprise, in
the Repot t made by the Duke de Levis to the Chambcr
of Pees s, that a proposition had been made to the Corn-
iiii,sion, of %%Lich he was the organ, on the part of the
unitei Bankers, announcing, that modifying their con-
tract with the Minister, they consented to give, during
five years, to the small holders of Stock (to the amount
of 40 milliom) the one per cent. reduction, which will
iie caused by the change of their Five per Cents. into
Three per Cents.
" There would be an impropriety, my Lord, of which
we are incapable, in a.fdre-sing any proposal whatever
to any one but your Excellency, ani this impr“pt iety
we have not committed.

" We have the bon= to send you a copy of the low!
which we thought it our duty to forward immediately
to the Repor:er. Yin, will these see, my Lord, that we
have neither writicil nor sent any Note to the Commis.
sion, that no proposal has been made by us, and fiat
no one has been at,thotized t 9 act for us.
" The Public his appeared astonished that we could
give up forty millions in a transaction which fixes the
maximum of profit at thirty-five. That would indeed
be incompiehensibic; bat if the conditions talked of are
Close which have been proposed, the pretended
SAC! ifice would be, in rt.ct, only a considerable increase
of pot t for the cilnpany.—We have the honour, &c.
"J. LA FITTE,
" ALEX. BARING,
" Baron J. DE nontscutLD."
The Minister then communicated the following four
Articles of the contract with the Bankers

Article I. As soon u the Chamber of Deputies sh.,il h .„,
the Minister of Finance shall piPsent a project of lave to au•liA
the conversion of ono hundred and forty millions of nv- p,.r c
t'onsolilated Suck into 5 per Cents. at the rate of 75 franc.„
" Art. 2.. On the other part the above-named Bankers tr!dtrt
to furnish to the Treasury the sums necessary to, pay oft
the holders of Five per Cent. St. ck who may not consent t.,
conversion, and to take to themselves, at the fixed rate ,if 77;
1 hrtv per Cents. intended for the aforesaid dissentient hot.;
" Art. 3. In return for the strvice rendered to the
by the contracting Bankers, they shall enjoy the probe which L.
arise to the Trca4ury from the conversion, (11)111 the ki.:y 0f.6.
incitement to the 51st December, 1845.

" Att. 9. Al !he churn au.l c;inditions not provide,' .
present contract sh.llbr agreed upnu hereafter beim JCL ,
tracting flanker* will consult with the blitiister of I'd,
all the measures which it may he advisable to adopt for tile .1
of the State, and fur the conversion to which the prt .r.! ,„
ha: reterence."

IE EV EN 'NU STA It

LONDON.

SATURDAY, QUAY 29, IK2I.
narroft.rnom OF KING ClikTtf.C4 IL—Holiday at the 17;16,

THE FUNDS.

ST4v7K EXCILINCR. Twri.vE

To-day is 3 Holiday at the !link and Stock I•:schan-,7,•, 1,..
Foreign Alar%et rens-!ins open, with very little his
to this th,re !wen hut one bargain done in
X1(100, ar 95L, A, 1.. r the Account, and they are 95 for the .
Chore wa, A rt-v..-rt en 'Change, early this morning, of 31.1,,,-
)i