The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-09-14
Our French Correspondence.
PARIS, August IL, l8i5.
YAa Ro~.s.A u~.l No.. HIu..L<A

The B0urse aWd Money Market.
The last week has been difficult trial of our
credit, the proof of whether there existed in
France sufficient confidence in our situation and
resources to negotiate loan. The end of the
week, Q2th) was the last period fixed to receive
the certificates of the old loan, which were for
feited In exchange for subscriptions to the new
loan. Happily, we have come out of the trial
trlumphantly the new loan Is all subscribed for,
except small amount of 800, 900 frances and which,
probably while we are writing this, is actually
subscribed.
There isnow every probability that the Bourse
will coon resume Its ordinary character and oc-
cupstions.
The gravity of the situation from which we
have Just emerged cannot be conceived Many
capitalists prudenty awaited the last movement
to enter into the new loan. If the defeat of
Charles Albert had brought about, as was feared,
an immediate armed intervention, our part,
or even If the premature discussion of the report
on the commission of enquiry, or to the insurrec-
ton, had created schsm in the parties of the
National Assembly, the loan could not have been
effected. The fall OF the certificates of the old
loan to ! $50, on the day on which the capitula-
ton OF Milan was announced at the Bourse, and
their rise to 1000 when the diplomatic mediation
was determined on, instead OF an armed inter-
vention, support this view of the case. Perhaps
the influence OF the question on the money mar
ket may have, IN some measure, decided the
government as to pacific conduct.
A speech of Lord John Russell, and sort of
official manifesto, have disspated all anxiety on
this head.
There have been many buyers for cash, but
without materially Improving, orhaving influence,
on the market.
The new loan made its first appearance on the
market on Saturday, when it was done at II
francs, but this quotation cannot be maintained so
low, unless there should be sensible fall In the
old per cents, for there is an evident advantage
in selling the old stock and buying the new, which
allows the holder, for long time, the use of part
of his capital.
The situation of the Bank of France Is sensibly
ameliorated, the bullion IN Paris and the branch
banks has increased, the bills discounted and ac-
counts current show better results. The protested
bills are gradually diminishing in amount II this
amelioration should continue and the treasury
should not increase the amount OF issues by new
demands, IT is to be hoped that in short time the
resumption OF cash payments may be effected.
There has not been much doing In railways, but
still almost all the lines are somewhat better The
government contract with the Lyons Railway is
now under discussion in the Assembly, who have
already voted the first articles, and thus virtually
voted the project.
article In the National which is supposed to be in
the secrets of government, conveying some appre-
tensions of intended disturbances, caused cons-
derable alarm. The spectators, under this influ-
ence, only conversed OF the movements of large
bodies of troops which had taken place in the
morning, of reports of concealed conspiracles,
according TO some on the eve Of breaking out.
These reports have been in circulation for several
days, In whispers but yesterday they assumed a
more palpable form and Ineligible vSice-a sure
sign, If there be conspiracy, OF its soon showing
itself openly. The mass OF spectators became
afraid, and sold, and hence fall.
The following are the prices for the last week.
n X psr( Nc Tr,ne pyuI-