Washington sentinel. [volume] (City of Washington [D.C.]) 1853-1856, 1855-08-07
REPORT TO THE EMPEROR.

REPORT THE EMPEROR.
"SiRE: Your Majesty has again appealed to the
country to ask the means for continuing the strug
Gle so glorously majntained by valiant army
III manner worthy of France and Of the object
III view. Faithful interpreters Of the national
feeling, the Senate and Legislative Corps hasten
al 10 reply to the Emperor's appeal, by authoriz-
ing him 10 procure from tho treasury, by the issue
Of Rentes, the sum of $4,000 900 francs.
"The time, manner, and conditions Of the loan
having been left 10 the free choice of the Govern
ment, come TO take your Maiesty's orders on
these points.
1.-The state Of the treasury and the resources
AZ its command would doubtless allow il TO pro-
vide for still many months for all public expenses,
and your Majesty might therefore in this respect
postpone using the powers placed in your hands.
"But IL is the duty of provident administration
to be- always provided beforehand, and to be ready
for every eventually. Moreover, on the first an
nouncement of the loan the capital to be employ
ed Il was Immediately prepared and set aside. A
delay would cause suspense, might be detrimental
TO affairs in general, and even TO the loan itself;
lor which reasons have the honor TO propose TO
your Majesty that il be issued at once.
"lt appears 10 me needless TO discuss the nu-
merous systems which have Of late been proposed.
The national subscription has been tried. II is to
hc recommended for is unquestionable imparti-
atty, and the brilliant success with which Il has
recently been crowned, fully justified the prefer
ence given 20 il by your Majesty.
"In the two last loans the subscribers had the
choice between the Four-and a Half and Three
per cents. see no reason why they should not
again have the same.
81 propose 20 your Majesty To decide that the
Four and Half per Cents Rente shall be given
to them at 92f. Csc, with enjoyment from the odd
&c March last; and the Three per Gents AT 65f.
oJa, from the 22d Of June.
"That thc capital subscribed shall be paid as
follows; One-ienih al the time Of subscribing, and
the remainder in monthly installments in eigh-
teen equal parts, Of which the first shall be due
on the 1th of September next.
These conditions will give the subscribers diff
fcrent advantages which are easily discernable.
AT the Bourse to-day the last quotation Of the
Four-and .a-half per Cent Rcnie was 92f 15c.,
and of the Three per Cents 65f 90c.
These quotations, compared with the purchase
price, give 10 the subscriber already profit Of
soc. Cor the Four-and-a-half per cents, and Of G.
for the Three per Cents,
hut the main advantage consists IN the delay
of nearly twenty months granted 20 the subscr
beers, dating from the subscription day, and in ths
date from which the arrears of the Rcnteg will h
paid Ia them. The plan. which procurcs by an
icpaion Tho interest &C the capital subscribed, Il
equivalent 20 a new diminuiion of &c re. on III,
Four Half per Cents, and &C ", 9sc. on an,
Three per Gents.
Those who pay mp al once will receive die
count equivalent 10 this profit.
Gan those combined advantages reduce IN ~
Atty the price ~ the four-and-a-lialf per Gents
90 sol. 46c., and that of the Three per Gents :,
6af gle, aud, compared with tho last quotation
on Change, procure 10 the subscriber a profit o
81 29c. on the former and of 2f Gsc on the la,
tcr-a profit the value of which y Increased whei
u v considered that for some days the Bourse ha
been influenced hy the expectation a the loan
and tho weakness of The last quotations y onll
due To an accidental depreciation.
"ln case the amount subscribed should exc~e,
the sum required, | propose tina, your Mnicr,
should decide that the subscriptions Of SOC o
Rcnte aud below shall alone he exempt frou
reduction, and that al those above soc shall an
dcrgo a propuriionate Reduction. This mcasur
appears 20 me just. ~ assuring portion 10 al
tho subscribers, whatever may b. the amount q
the sums subscribed. the success az the operaiiol
viii certainly be enhanced.
AS IN The ermer loans, and 10 make place g.
tho small capitalists, the g'iHimam of the sub
srrpiion viii be lowered 10 lW ~ henie.
"Such are, Sire, the conditions which hav
the honor 10 submit 10 your Majcsiys aPproha
ton. The advantages that result thcreiFom e.