Star.
London, England, 1814-09-03 00:00:00

PARIS PAPERS.

CHAMBER OF DEPUTIES.
SITTING OF THE 29TH AUGUST.
The Budget was the order of the day.
M. DESORAVES ascended the tribune. He first
'Stierved, thai he should express hihtself with that
simplicity which gives weigltt to demonstration, and
that be should principally, remark on that part of the
Law lrojet which relates to the creation of the abli.
,attons ,of the treatory.4o,nds. He was influenced
by. duty and .love ofitreth to contend against this
measuve,• although the'Minister attached such a vir.
tue to his plan, as induced him to say, 44 Do not attack
a. single cipiter,.nOr a point of this system ; far its dit-
',
*ferent parts .are so combined that they can only be
considered together and as a whole."
. The Wputy, however, supposed that he might be
permitted to discuss this plan, the effects of which
wete of such high importance to the State. He en-
...treated the nation to maintain concord, and to con-
fide in its Representatives. He who spoke of economy
under the lateGoverrtment, was marked as a factious
man (an frandeur). But the return of order and
justice now rermits us to promulgate with freedom
wise and useful opinions.
M. Desgraves thought that the means proposed-to
clisaharge the debt were merely delusive: He did
not conceive that an interest of 8 per cent. could be
attached to bonds issued at a time when the public
interest wits.et a much lower amount ; and the-report
of the Ceitral Commission, which bad defended the.
am-tut oftbrat interest, had not altered his opinion.
It is pretended that the formation of an interest so
advantagiOns or the Creditors of the State will draw
foreign capital into Fumes. but do you suppose that
the Capitalistiare dupes ? They will indeed come,'
, put it siil be to extort from you 30 or 40 per cent.
and to co operate in the ruin of the State.
ur debt of 5 per cent. consols is not out of prroa
portion to the public wealth. By consolidating in
the same manner the new • debt, you will avoid a
ruinous system;
The Deputy then discussed the objections spade to
the inscription of the creditors on the great book.—
Toat measure would satisfy the creditors : but in
gifong the bonds on the Treasury, bearing 8 per
cent. interest, Ton would legalize the usury proscribed
by the lair. Who is to respect the law if the Go.
lt does ni,t ?

vcrimem. -
• It is proposed that you should attempt experi-
ments, as it we were ignorant of the danger of un-
tried systems. The Minister and friend of Henry IV.
Ate wise, the economical Sully, knew nothing of
these rising and lowering games. He said frankly
to a' Kng
.worthy of heating him-6, We owe such
sung; it is -necessary to pay them : we shall next
consider of the means of establishing order and eco.
airily: of augmenting our receipts, and diminishing
our expenses." . • • .
Eight per tent, interest will increase your debt to
the extent' of 173 millions. Extraordinary means
are proposed to you, such as the sale of the woods
and property of the Communes, in order to discharge
it. Sitbst:tute inscriptions for bonds, and all ob-
stacles will be removed.
At all events, M. Desgraves wished that a corn •
pcy.tnt authority should watch over the operations of
lyrinisters relative to extinguishing the debt. This
ro.:2,nrity was to be found in the Chamber of Ac-
counts, t.%thicti waicompoied.of upright and enlighten-
ed men ; but it was necessary that a law should ex.
teed their privileges on this head.
To save at once the interests of. the Creditors
of the State and the national honour, is doubtless
the siocere intention of the Chamber, and on that
ground we .cannot adopt a project which would.
shake public credit to its foundation; 'on that ground
a paper system, the precursor of a disastrous loan,
Ought to b< rejected.
If you give your assent to such a system you will
experience the fate a those Statesmen who, wishing
!et be 'Jost to excess, come at last to be very midst,'
and are lost an vague speculations.
Deputy sew, with uneasiness, that according,
to the Minister's plan,,all the public wealth would be
placed in bis hands; and that he might dispose of it
ac his pleasure. No responsibility could counteract
11e evil elEicti of such a power.
Besides, the Minister is deceived in supposing that'
be can regul:ue the course of the public funds. Si.
polar experiments have been made, and uniformly
failed. Public opinion is, the despotic regulator of
their price; and who would not be afffeted to see
monopoly and stock-jobbiog exercised by the Go-
vernment 1
It may be said to:you that England is rich by her
industry, her commerce. her navy, and that her pro.
spent), depends on her credit. Without doubt : but
whence proceeds thii credit ? Solely train the pa-
uimisro of her inhabitants.
Destroy selfi.bness, inspire the breasts of French,
tines with pubic virtues—these are the surest founda-
tions of confidence and credit.
M. Desgraves here drew a parallel between the
system of Inscription and that of Treasury Bonds.=
He gave by far the preference to the former. If you-
have any regard for the country. added he, reject a'
plan ot
,finauces, which.has only a false appearance
of justice add good faith. The King, whose good
disposition only needs to be enlighteded, would be in-
Consolable for the bad effects which would result:there-
from, lie afterwards proposed same amendments,
the basis of v.hich was—lnscription in the great book-
of the floating debt in arrear, the verification of the
Ddinistar's Ordonnances relative to this object by the
Chamber of Accounts, and the sale of 300,000 hec-
tares of.for:sts, sod, and sopei aces, to answer the.
payments.. He proposed also that the budget-should
be AlintiAlly prsented to the Chamber.
M. I).igraves' speech WAS ordered to be printed.
hl. PETIT DE BEAL:VERGER spoke in favour of the
projet iof the law. •Unseduced by the simplicity of
the operation of converting the debt into annuities, he
contended, that such a plan would be as unjust in it-i
'elf as langerous in its consequences. The plan of
the Miiiister, on the contrary, involved much less in-
convenience, and it had the gr adiantage of a
snore ptompt execution. It woMead in much sus,
time to the extinction of the debt, it advantage which,
be consideted of great itnjuttan4e; it would also
basic veil favourable influence soth in the trans-
actions of Individjsals and in the sale of national pro-
sty.,. He wu of opinion that the alienation of three
puudred thousand hectares of forest could not receipt