New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-08-03
FRANCE.
TERMS OF THE NEW LOAN.
The Mondear Of July Is publishes the following
report from NJ. Magne respecting the new loan:
REPORT TO THE EMPEROR.

report from NJ. Magne respecting the new loan:
"REPoRT TO THE EMPEROR.
" SIRE: Your Majesty has again appealed TO tie
country TO ask the means for continuing the struggle
90 gloriously maintained by our valiant army IN
manner worthy of France and of the object in view.
Faithful nerreters of tae national feeling the Senate
and Legislative Corps fastened to reply 10 the EmPer-
or's appeal by authorizing him to procure from the
Treasury by the issue of Renies the sum OF
$50 600 OO0f.
"The time manner, and conditions of the loan hay
ing been left to the free choice of the Government,
come TO take your Majestys orders on those points.
"Ihe state of the Treasury and the resources at s
command would doubtless allow 10 provide for still
many months for all public expenses and your Maies-
~ might tte efoTe IL this respect postpone using the
powers placed in your hands.
But ii is the duty of proyident Administration to
be always provided before hand, and 10 he ready for
every evenuGlity. Moreover, on the first announce
ment of the loan the capital to be employed III II was
Immediately prepared and get aside. delay would
cause suspense, might be detrimental to affairs in
general and even TO the loan itself for which
have the honor to propose 10 your Majesty that ii be
Issued at once.
at appears 10 me needless to discuss the numerous
systems whch have of late been proposed. The ma
tiOnal subscription has been tried. Ii If to be recon-
mended for lis unquestionable mpauiaty, aud the
brilliant success with which it has recently been
crowned, fully justified the preference given to 1t by
your Majesty
In the two last loans the subscribers had the choice
between the Four -and-a-Ialf and Three per Cents.
see 10 reason why they should not again have the
same.
a. propose TO your Majesty to decide that the Four
and-s- Huff per Cents Rente shall be given TO Them
OFF 25c with enjoyment from the 22d OF March last
and the Three per Cents at 65f 25c from the 22d OF
June.
THAT tie capital subscribed shall be paid as follows
One tenth at the time of subscribing and the remain
der in monthly instalments in IL equal parts, of which
the first shall be due the eth of September next.
"1hese conditions will give the subscribers different
advantages which are easily observable.
"At the Beurse to-day the last quotation of the
Four.anda half per Cent Rente was 92i 75o., and Of
the Three per Gents 65f. 90c
"1hese quotations, compared with the purchase
Price give TO the subscriber already profit OF Soc for
the FOHr and allalf per Cents. aud of Csc for the
Three per Cents.
L" But the main advantage consists in the delay OF
nearly 20 months granted to the subscribers, dating
from the subsoIiptonday and in the date from which
the arrears of the Renes will be paid TO them. This
plan which procures by anticipation the interest OF the
capital subscribed, is equivalent to new dInnuilon
of q. 79c the Four-and o-Haf per Cents, and OF
If. csc. on the Three per Cents
"Those who pay up ct once viii receive discount
equivalent TO this profit.
All these combined advantages reduce in reality the
poe ofthe Fouranda Half per Cents to sci 4pc., and
that OF the Three per Cents 10 63 27c and compared
with the last quotations Change, procure 70 the
subscriber profit OF 81. poe. The former and OF 2
Csc on the later-a profit the value OF which Is IN.
creased when II is considered that for some days the
Boulse has been influenced by the expectation of the
loan and the weakness of the last quotations is only
due 10 an accidental depreciation.
"In esse the amount subscribed should exceed the
sum required, propose that your Majesty should de-
eide the subscriptions Of 5Of of Rente and below
il shall alone be exempt from reduction and that all
those above 50f shall undergo proportonaie reduc
ton. This measure appears 10 me just. BY assuring
spnron to all the subscribers whatever may be the
amount Of the sums subscribed the success OF the op
Grafton will certainly be enhanced.
AS in the former leans and TO make place for the
small capitalists, the minimum Of the subscription
will be lowered to lOf of Reute.
Such are Sire, the conditions which have the
honor TO submit TO your Mejesty's appreciation. The
advantages that result therefor for subscribers
certainly considerable but at all times similar advant
sges deemed indispensable 10 the success
OF negotiations. The old system had the fault Of
serving the advantages exclusively 10 q few. The
merit Of public subscription, inauguratei by your
Msiesiy consists in Offering them 70 all. and, by
ihrosng open the Renie, IN enarging the basis Of The
cTt cit OF the State.
- am. with the rSosi profound respect Sire,
Your Msjcsty's very humble and very ohedenf
servant and faithful subject, MAGNE-'
An Imperial decree follows the above report au-
thoring the loan on the conditions proposed.