New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1848-05-29
statement of the Minister Of Finance.

Alter brief statement from tuf Munster OF lupAt
Instruction GARNER Pages Minister Of tnance, said
The financial history of the fallen GOvcinmen M was well
known: for seventeen years the Committee on the
Budget the Chamber and the Press had every year ex
posed IT, threatening character He had scarcely en-
tered Office when he ascertaincd and made known the
results OF hi- investigations u disOr gazaton re-
dlrod 10 system which must terminate no national
bankruptcy. When the nation proclaimed tue AflubAc
a catastrophe was imminent al tie public services
were CONFRONTED, and private Transactions thrown
into confusion. For some years the budget had eNhD-
tied large deficit and for the last year the expenditure
voted Of the extraordinary credits amounted 10 lux
millions.
Exhausted by unexsmped prod gality and the Gala
mites attendant on scanty harvest such was ihe con
dton OF France when the revolution burst out
Treasury Bonds 10 an enormous amount were III tue
hands of numerous creditors. VINO would not listen 10
any FOR converting the floating debt into con.
sOldated the receipts especially the customs, Ten
of considerably the Railway Companies, ~ particular
were exactng they refused 10 continue their wor "a
and wanted Withdraw their deposits, under the pre-
text of irresistible circumstance they refused 20 pay
in the rest of the money still due 10 the treasury New
and extremely urgent necessities soon arose tne-'
the distress Of The people no les noble ~ Their
dcstutiOn than IN the day Of combat II was ihuspen
bic 70 secure them livelihood by temporary occupa-
ton
Tb, first duty Of the Government after ascertaining
the real state OF affairs lay account OF u De
fore the nation. witt out animosiy, tear or ia'of me
Government had satisfied the requirements oil la-t
policy. In recognizing the debts 81 the pasl tt Hau
also rec .nizei those OF the future. Inc heVouuoh
unae for the people and al the measures OF me
Government had been concerted ana agreed 70 on i'
principle oi assuring the prosperity OF the people ~
credit and industry. Ills honorable predecessor N
GOudchauX, had taken the necessary steps 70 prevent
interruptions in private transactions he anticipated inc
time tor paying the halfyeary interest on the opeFct
The funds OF the Savings Bank had been di.spated oy
the old Government they had been replaced 0y SHARES
and comparatively small sum in specie. Inc dlneI
between the reaizable and the real falue Wa
above 20 per cent II would have been madness 70
ditfrulfiaz entering the MN
siry, appeared 90 him indispensable 70 cohtlete tue
interest OF the public creditor with an linprtou- ne
cessy lie might add that after giving 70 dePo'llois
higher interest he had taken measures lOI
the effect OF an unavoidable delay. Another clt- oI
creditors less worthy OF attention. were tAe hoaef'
Of Treasury Bonds Here the honorable Minister IN
pearcd greatly iatled from the eIOil OF p'9"lis ~
voice 10 be- heard % the end OF the long Han anu
he accordingly excused from reading tAe feliA4'
der MI next day.
some discussion then arose to the proPrieiy Of st
ting ln the evening which was e-atlfed
member sr,pke in strong language the necessity
of sitting next dav Sunday The National Assembly,.
he observed ought 20 I'll night ana day uhiiI OOHsl
tuition vas decided
several member opro-ed this course the ground
that como repo.e wa necessary after -ucn heavy st
ting and IL was eventually dco.ded that m" House
should adjourn 10 Mondsy
On Monday the 9Th the financial Report was resumed
as iollows
The Provisional Government he SAID, found itseii IN
Of OF trtd-Af H'AA' "ii~A VIZ g-'-
becoming due II found il necessary - adopt means
not % let the Treasury succumD under TINS heaFy
charge and II renewed them by an arrange "nlch
recoDeiled all the interests concerned. One Oi the
r-in~inal praocriuaous Of the Government was a. 70
aaugh, ~ be The defence OF the Republic up 20 the
nrssent time il had net been threatened Il Il resolved
not 70 attack any one but u viii vigorously repei any
aggression from whatever quarter may come zap
rros,iou me wants OF industry also called Tor The
solicirude OF the Government u iuly comprehend
,bat II p,ust abstain from any 100 direct influence with
ibr bieb would have had The twoiold Inconvenience
of atfa~kur th. dignity Of the man and OF being IN
prnlurfivr Ii fastened however 10 establish national
discount hanks and warehouses Tor the deposit Of goods
which had the effect VI reFIvns credit
The NON Min sfer then stated that the Government
hal considered IL il duty 70 connect the departmental
hanks with the Bank OF France and then came 20 the
question OF taxes shall he sad contend, win al me
energy Of the deepest CONVICTION Tor tue esao'n4rA
nj \ rro-r,.sive tax on income bat the Government
ei tt,t II coulf not deprive the Assembly Of the
honor OF establishing that mp0st u was however ne
serv 10 provide for pressing wants, and, az my re-
ouest-for DO not wish % avod sny respon-ibiy-ihe
t,varnr,eut decreei the tax OF - per cent by m
, ~. r,rirs OF tobacco for the dealers, conform
80, y, t ,r,6s formerly reserved 10 them, the Gov
eminent bas increased the revenue OF the state lc0uld
a. have ,ur a tax the Rente, bur wa- unwilling %
do so that Is question on which You VIII have 20 1s
is a. we'll as on the interference Of the state Win Ia
.,-,rce ofees and the establishment Of progressive
tsx ON scce.sions proportional 70 the amount ADJ tie
degree OF relationship 49,,
The Provisional Government placed ~ my d-sPosai
about one hundred millions from the property OF me
Evil lit and OF the crown and equal sum from ne
Stsfe uroperfy: ! have beside the diamonds Of me
crown have not wished % have recourse 10 these re
sources. but considered II my duty BY way OIL ptocau