Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1856-06-26
THE FINANCIAL CONDITION OF FRANCE.

LOHfOH ].
The report OF the Committee the French Budget Of
1857 has been published in the NoHifcWr, and not~h-
standing the guarded character OF its remarks evident
anxiety ia visible a to the ultimate results OF the exrhva
cant expenditure and the general management OF the
tioual finances to which have than
sion directed attention IL cannot be denied that large
amount OF capta-ying unproiuctive, from the tendency
10 hoard specie long pactised by the peasanry at
Fr,nce-has been called into active and profitable cr,u
laon nv the impulse given enterprise Of every descp
ton during the Ielgu OF Napoleon ILL., nor can 1t be de-
MED that the OF wealth and commercial prosperity
in France are from being developed Nevertheless, 1t
ia dangerous proceeding discount the French Cow
eminent has done, those elements OF national progress,
and 10 adopt financial system the Of which Is de-
pendent on an uninterrupted condition Of internal and
fernal peace and exemption from national caami-
t- such deficient hlrvests, the terrible vsstion
Which has recently carried ruin into some OF the uch-
est provinces OF the empire.
Year after have seen the financial statements
-oundiup With the exhibition Of nominal surplus which
regularly converted into real deficiency, swelling
the amount Of floating debt OF toe country, which has
no~ reached 30.457O O0 The increase since Jan Is
4S3S COOL and the amount of treasury bill, ahoai on
April exceeded Ia, S53 0dnl This item presents matter
for consideration when reflect that an enol-
nous present and prospective absorption Of floating capt
tai ia new companies has until recently been suffered 20
70 on not only unchecked, hut 10 great extent encouf
aged the and the credit estabshm ni- VA.
der ts influence. The railway companies, the Bakers
Bank Credit Foncier and numerous other as~ocia
tons are constantly bringing al increasing amount Of
bond. into competition with those OF the State and ofer
ing terms which afford temptation TO capitalists deir-
mental 10 the power OF issuing treasury securities
moderate rate OF interest Were these yOuous bonds aud
ho.s 81 the different municipalities more difficult OF ne
sotaton the evil would be 20 some extent dimnished
but nv encouraging the Bank Of France and similar ins
ed opened their circulation than could otherwise
be commanded and the treasury bonds must necessarily
encounter a severe competition.
The result Of the Is partially demonstrated in the
increase n tue charges tor the public debt the additional
burden arising from the late loans amounting TO e2sGs
snnum irrespective of the increased charge tor
a Al 4 N Arf a-FttIr attah
OOn0O0 TO receive tie loans OF 1885, aud the bud
get that this will suffice 20 meet the balance
OF the charges, anticipation which Is thought ia
quarters be Questionable The calculations
Of the budget ~ regards The future mainly funded up
the supPoon that te naval aud military expenditure
will be reduced 10 it, iO'leF Limits, aud that
long period o peace is certain IL is surely unsafe 10
this latter circumstance basis Tor financial eacu
lKons Italy slumbering volcano, Shch mas at a.y
burst FORTH and the relations OF Austria well this
81 Europe by OF character TO render
sOch political complications impossible may render IL
necessary for France TO De ia position 10 act That the
Emperor does not propose 20 place himself in position
sbsre In. menaces may be looked upon empty words
deduce from the general character of hs political
conduct and while throwing out the insOlent threat
Belgium betrayed intention Of keeping France IN
condition q lie feared and listened 70 by other States.
The committee appear % have beef strongly impressed
the necessity Of relieving real property from the
ira burden imposed upon it by the which expires
il 1855 The SUN raised by thi- neN mPost IS E22sG.
600 and various projects were brought forward o create
substitute for il. That most iavOfaby received
tar Of per ,ovs all purchases and sales the
Boaise. but estimate ofthe amount which such
would produce is before and the data pOba.
bis wanting except from tile transactions passing through
the books Of the regular dge7t' de ehrHge
Another which the necessities Of the State
compelled 20 have recourse, and which very properly
Animadversi by the committee is the alienation Of
the forests Of the crown species Of property which has
ALWAYS been looked upon not to Ice diminished, except
in case and which entails upon the State the
necessity Of increasing it, purchases Of timber. already
very large. With another nenddton contained Ia
the report fully coincide The property Of cOmplet.
ing the restoration OF existing historical monuments be-
fore undertaking any may be suggestion d.
rected against the courters who have recently the
erection VI a column Napoleon Ill and the army Of
the East, in rivalry Of that the Place VendOme il
may be hint TO the Emperor 10 couhne his attention 60
the completion OF the Louvre before commencing Wuks
OF similar, though lees costly character in other parts
OF France intention popularity attributed 70 him The
hungry and costly crowd OF hangeron Of the cogit fill
ing places OF every kind, with duties often nominal BUS
with salaries excessively real spared it is
mended TO have lever onpioyfs to uake those who
returned do their work aud TO remunerate them suih
ceny, according 10 their merits IL j. Ia the old para.
mentafy system that France is in great measure Ind b.
ted for the swarm Of III paid eapios, with equally ~ de-
fined duties They animated voting hines work
ed 10y the minister Tor the time beiug and the sy-tem has
doub,s teen retained until the present dag ~ oerable
working oder Nov, however, tlmt Parliamentary un
loriucs arr lees important rather le. likely 10 be ad
verse ~ the ruling pOsers aud, while universal sur X,
is at least nomnay the rule the utility and necessity
this stat are diminished Il possible that maj
be made Of sacrificing n the smaller irv, eavnJ
the more exalted do-uOinugs in pOsscsson Of their gren
court Offices and geat alatie- The budget usual ex
hhlts surplus Of Ei3sOUO from which judging Ly pre
cedent We are Inclined 10 argue that the government
must do one Of two tngsiurd portion Of the noaiiu
debt or issue ifesh loan. The probable dtninutnu "a
receipts consequent on the recent iuuudtous and the d
~ ard Necessity u prompt aud large aid 10 the .uAcr
aug distfics render Of those extremely prt
babc. aud the recent panic the Paris Bouf-e may
some degree, be attributed 10 the anticipation hai u
announcement OF financial operation will not be Ion
delayed.