The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-04-17
I Tho Financial Position Of France-The H
- ports OF tho Minister OF Finance.
| .Lrsuch R,yukhs,,- LiB~rfv Eovakfv Fvafsruiku.

The Financial Position Of France-The Rs-
S.SZ ports Of tho Minister Of Finance.
"1''aeA R',a'H''-Lssr'y EssaT.y. Y' S.rssy
Report made to the govsnmsut on ths financial silva
tion Of the republic BY the Minister Of Finance mem
The country wishes TO know the truth 70 the real
state Of lie finances. The provisional government Of
duty, Its interest its right. The government Will tell
the sntirs truth without hatred without fear but like
wise without reservation.
enter ON the facts.
On the LIST Of January, ls4 the capital Of the pub
o debt the government stock belonging the sinking
fund being deducted, was 1867 364 Os francs On the
Ist of January, ls4s 1t amounted to 57o $50 francs
Far from taking advantage Of 70 long to reduce
the amount Of the debt, the last administration aug
mented 1t in these enormous proportons-sl2, 39s sas
francs, In seven years,
This budgets followed the progression Of the debt
Those OF 1870 to 1880 amount to l0l49l4 600 francs
The entire Of the credits placed ut the disposal Of the
fallen government to the year ls47 amounts to
the receipts the budgets presented each year oonsids
rabls deficit The expenses from 1910 to 947 inclusive
y exceeded the receipts by GOA 525o 00t The denct
calculated for thu year lS4S is AZ 900 000f without
counting the additional chapter OF supplementary and
extraordinary credits which will raise tho total amount
OF the budgets to tho charge Of tho last administra
ton to 6,s 5,000f.
The public works heedlessy undertaken smulta-
neousy to all points OF the territory to satisfy
courage electoral corruption and with that reserve
COmIn4nOeQ,
the credits to 600 0o0r From this TO be de-
ducsd the sums REIN bursed by the amount
gethsr 242 600 DOOR and leaving balance OF 0O0f
Out Of this oOOOOOf hss bean expended out Of
the resources of the floating debt and 4o4 000 still
remain to be expended the completion Of the works
FLOATING
Ths aosting increased In proportions not less CON
siderable At the commencement OF 1881 1t reached Al
Of abont 900 000f At the date Of the 26th
Of February last it exceeded $40 0ss which to
DO added stock belonging to the savings
banks 202 oOOf making altogether sra 900 o0of IN
der such system the position Of the central ONCE Of
ass days Of its sxstsnos the fallen government expsnd
cd more than 204 500 ,000f beyond ite ordinary re
Of IN S5as ssy sSss.
sourcss produced BY royal boads loan and the sa-
wings banks From the l2th Of April ls47 to the asth
Of February lS4s the treasury bonds issued increased
from to s26 600 oeO The ipstalmsats Of tho
loan contracted the 10th of November ls47 paid into
the treasury amount to 0o0f 1t II not yet known
whether the remainder Of the loan will be realised
What certain is hst the treasury bonds must be paid
BILE history or the 0O0k paid into the hands Of
the late ind only 80 eo0 paid into
purchase Of government stock or shares. whence It
follows that the fallen government rendered. imposs'
the p.s 1ss
monarchy bsqueathsd to tile republic. The republic
accepts ii butt is urgent that remedy shsuld be sp
piled to the evil But In what manner! What must be
done to insure the working Of the different branches Of
the public servisete establish public credit on really
works undertaken and amsorste the condition Of tho
psoplsf WISE energetic, and prompt measures must be
tssd that have the honor to submit to the deeion
Of the provisional government.
FUNs.
The sinking fund ought to be maintained. IL ID
gsgsmsnt contracted BY the State with its creditors and
this engagement must be fulfilled. But the fallen 60
fund in sdvanss When government stock fsn below
par were reduced to the alternative OF either sus
OF to io
t. proceed by giving a hitherto Treasury bond: to the
sinking fund in place Of cash. The latter the
none of leaving than 6s0oOef a-day in specie
In the treasury. ItwM course imperiossly demanded
by circumstances, and adopted It, have determined
shaking fund shall continue receive treasury
bonds In paso Of specie
The bonds issued amounted on the 2lth Of February
lsls to $50 SIS Oe0f certain number Of the bonds
dr.s y". s
s4s The collection Of taxes being accomplished with
the greatest facility Citizens In their patrotsn sonsi
der duty to carry to the treasury the amount OF
treasury bond. l. assured I merely propc:. to ax The
interest On ALL without distinction, ct per cent.
SAVINGS BANKS.
the government Of the sI-iinS rendered. il Impossible
tor. :. t sSa :.1.ss bank: TX. pledge d.n.sdsSs It
pleasure vss no longer free In their hands When
afternoon the 7th Of March, the property Of the depo
sitors Vas placed % follows
"In the Treasury at per Cent, 6s7o3 sasf 400 in
OOVolumoug
verunspt per Cent stock, 202 7sf in per Cent
Government stock 92c In shares ofthe four
Sisf $50. making altogether Sss sss fsrh.ps
the might have said to the creditors OF
the savings banks Such is ths pledge which the 60
vernment left in which you placed your con6dsnos-
aks It." Such mode Of resolving considerable dim
Guilty was not unjust was easy We have rejected IT,
Of deposits 1. tn. savings banks would have had to
ssRsr loss less considerable, and did not
wish to impose such loss them But, after rapid
and minute sxaninaton Of the position Of the deposit
discovered that the small sums belonged In gen.
srs needy citizens tina. tn. large deposits. particu-
more OF less In easy circumstances, who frequently
ID. limits q the law y dividing their .s. d;pS;
the former In Withdrawing their deposits, obeysd the
dictates Of necessity the latter gave proof OF tnsr
licsa government Wishing to reeompsnse those who
show enlightened confidence, have already deter
banks shall be raised to per cent wishing at present
concbsts ct the time the good feeling which the
With n. i@psrioSs necessity Of . situation which We
have not created, propose TO the provsiSnsi govern
sss be rspsd in full in cash q That the deposits from
l0f TO 0esf shall be repaid az follows viz 1907 In csen
one half Of the surplus In treasury bonds four mentAs
date bearing interest ct per cent and the other In
counts which exceed iooof shall be repaid follows
via 1907 In cssh..on half Of the surplus In treasury
bonds ct ak months date bearing at per cent,
and the remaining half in per cent stock ~ par
nrsvsrros or rnr svnsxR ey EsslormrsI.
stuion The admisbiity Of ell citizens TO all employ
msss implies the des Of Just remuneration.
The epube wishes 10 be well served, and IL viii re-
rate suitably those Who will devote to II their intel
gencs and their time. Public functions shall hence
fsrh 10 whsrs the intelligent, the Jealous,
sss Ihs honest yin have yield the pr.oeasnce to
those more highly pstronissd Let h.rc % no longer
asy siasourss bat fsu pubic servants veil psd-sucn
hs ss the principle ans the ruie OF the
reputIeaa govsrnn.pt ] propose, therefore, to the
provisional s0vunnsnt 70 dsciss in principle that the
uunbsr 81 enis shall be reduced IN large proper
toe .nf hat their salaries saA scnxsd new basis
such ctssna 10 the ssssssls OF the measures which APP
peer % the sslts Die ard encacous to prevent
the cash nom being Withdrawn from the treasury with
dangerous r.Yiity. ! must submit 10 you another
series % propositions csssstsd 10 draw cash Into the
ofhs STATE and give greater lfeto the ciroula
uos of Donsy
ufssorps o. rar