Star.
London, England, 1825-12-06 00:00:00

FROM THE ETI)II.E.

The journals of the Odposition en:learn:sr to compare
the fall of our funds kith that of the Eng;ish funds,
and to deny the influence which the financial crisis in
England must necessarily exercise over the qno-ations
of the French funds. These journals appear to be
ignorant that the English hold nearly 20,000,000 of
reales in the French Five per Cents. and fi►e or
six millions in the Three per Cents. Toese rentes
represent from six to seven milli •ns ,f capital,s; hich
are realizable at pleasure by England upon the Paris
Exchange, but, fortunately, only at the quotations of
the public funds. In order to prevent these quotations
from giving way i❑ consequence of t::e financial crisis
in London, it would have been necessary that French
capital should be teady to replace that which England
had withdrawn from the Paris Exchange. This was
not the case. Every attempt made to sell at prices
beyond the ordinary proportions caused the quotations
to fall, and took away all interest to realize money for
L 'lldoll by the sale of French funds in Pall,. It is
thus that is explainei the re•action of the financial situa•
tion of London _upon the French funds. It is thus that
is demonstrated the ignorance ofth ,se daily declaim, rs,
who wish to repre eat as the result of a Ministerial fault
the inevitable consequence of the possession of our
stales by foreign capitalists; and as a pubic calamity
the temporary fat in the funds, which. is vie only prs
Bible obstacle to prevent foreigne:s in moments of
difficulty from transporting to their oats countries the
disposable resources which are necessary for ourselves.
The fall in such case compels foreign holders to
transfer at low prices their at,,ck to French holders, as

[PRICE SEVEN

•
long as these are ail to take tier!' ; h ti the in-
din•ition or the meal.s of purchase ate wanting to such
persons, it becomes necessary to the others to tennunce
heir projects of reaiizazii.n, which a mote marked
jepres.ion, and the wait of bti,,ers, ha e checked. Wr
sill nrst c.include uithnut directing put•l c -at•evtion to
a comparis, n, which has wit been made by those to
la horn we ate n .w replying.
In England the Bank has had embarra sments, and in
order to prevent their aug.i e itation the discounts I ave
been limited. 'the public trea,toy hai hid difficulties
for the payment of its Exchequer Bills, and the holders
have consented to ret ew them. lie:e the Hank has
,ttpplied all the wants which have been manifested, and
it has still the means of sup; lying much 1 t tier if they
oit-d.ccctir.• The Opposition journals have adv'sed the
h•:d.r. of Bink.nor•..s to claim o,eir reimbursement.
He e the Treasury had no wait, and supported an in.
s;izpiticant fl acing debt, by it,cuing less than a third of
:he It. yal hich it was autism iz -d to create for
it. exigency ; yet the Oppositi .n has net ceased to en.
deav,or to lir ;rig discredit upon the public funds to such
an exr,,,:r -ts .nducc the holders of rentes to rush to
t! -e Exdiange to effect sales
':'::is corup;ri,on is u=eful to complete 11,; appreciation of the
reetturc-f., and dispositions of the two cournries. •