The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-07-18

The loan from the bank is easily obtained, and is
therefore, counted upon. The stock delivered to
purchasers in the departments in 184S and 1S49 Is
considered, by the committee, dangerous step for
credit The state Of trade does not allow the cuttings
in the forest to be relied upon. The sale of real pro-
perty is estimated by the committee at fifty millions
and reliance bsyond that is considered safe
The recovery Of overdue debts is considered very
doubtful The cash in possession of the railway COM
panes is exaggerated The companies hold twenty
five millions of Treasury bonds which could not be avail
able; and then as the Assembly had not decided upon
the purchase of these lines cannot yet be reckoned
upon as an item Of revenue The mortgages WILL it Is
estimated yield eightythrcc millions of francs but as
they have already been put down among the ordinary
resources of the Treasury they must Of course, be
erased from the list of extraordinary resources for tho
year. Lastly, the committee recommend that the
twenty-five millions, the sum estimated to be paid
back by the ancient civil list, account of the thin
nings made in property in the forests of tho State b.
struck out as the question unsettled and it will
be long time before anything derived from that pro.
perty can be realized
The Committee of Finance have completely de-
stroyed the calculations OF the Minister of Finance
Out of 5s0OoOoO francs estimated from these source
by the minister, the committee consider only $50 O0O
600 francs ensured viz $50 millions from the bank so
millions from the sale of different portions of the do
main of the State In conclusion-w give the closing
remarks Of the committee in their report
"on the other hand, we calculate that the dea-
cheney of the amended budget of 1SiS would to
rum approximatpg 40 to lao millions In this man.
ner after having covered the deficiency to certain
amount, with the extraordinary resources, the Trea
sufy will not have from these resources in
commencing the service Of the year 1919 than the
of 100 millions And the Assembly viii remark that
this may be still further diminished by extraord
Diary credits which are not placed in the budget
THUS the .feiiers Ndionaur have already absorbed
sum Of nine millions You granted them on the oath
Of May sum Of three millions. and already further
grant Is demanded II you. The balance Of 100 mil
lions to the credit Of the Treasury at the end of 1s4S
is therefore only matter to be hoped after all But,
however that may be- have to the end Of
because 1t brings back your credit.
"Credit is only founded fidelity TO engagements
A State likc!an individual has only credit condi-
ton Of paying his debts. Convinced Of this truth
your committee has already proposed TO you to REIN
burfe the BOns du 7'tsor and the deposits in the Saw
ings Banks in five per cents at the price OF the day
This measure would have the most salutary
suits; 1t wonld relieve our finances Of the floating
debt which brushes 1t and the greatness Of the
sacrifice which would impose upon ourselves, would
prove to the world that we do not shrink before any
loss to do honor TO engagements Notwithstanding
the contrary advice given by Minister Of Finance
your committee persists in this conviction. persists
In it with still greater force when it gees the mode Of
payment proposed by the minister The minister pro-
poses to to decide that the Bons du Teso issued be-
fore the oath Of February s4s removed since that
Tune, snai DE renewed ny series OF ioVVoVo francs
from month TO month to commence from the month of
November 1s4s. Your committee does not approve of
Of which the result Is to prorogue for fifteen
years the payment Of Bons which decree of the Pro-
visional Government has already prorogucd for six
months II the combination Of the minister Is adopted,
the treasury will be deprived between this time and
the end Of fifteen years of the necessary
Of the floating debt which, the contrary would be
ut opened Immediately to us, II we adopted the
liquidation which have the honor Of proposing We
also maintain the same plan for the Savings Banks
that sacred credit Of the workman We approve Of the
partial reimbursement proposed by the minister. But
this has always the inconvenience OF leaving
the treasury thechsrgwhich brushes credit and Of
abandoning the unhappy depostors who have occasion
for their savings TO the discretion Of spectators
By the liquidation Of the floating debt and with the
extraordinary resources Of $50 millions, at which
calculate the available resources hope TO arrive