New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-06-21

France. The various industrial enterprises ~
ried on BY jcnt-stoek companies sre represented
BY different stocks or other psPer-sAres' oeiiss-
tioos, hsads, debenfsres. Sc. These different
stocbs are, Of coarse rated ct different prices In
the money market according to the cspitsfnvested,
the profits they yield. the different bearing Of de-
mand and offer upon them, and other ecoaossicL
conditions.
Now, what does the Crtdn Me5iiier propose
To substitute for sl these different stocks issued
BY different joint-stsck companies, one comuos
stock issued by the CrtSa AsSGier itself But how
can it effect this BY buying up with its own
stoe or other psper the stocks Of the various in
du.trial concerns. Buying up all the bonds,
shares, debe INJURIES, etc in word. all the pa
per of 8 CONCERTS buying up the concern itself.
He nee the Crtdn Mo5lii,r avows the Intention OF
making itself the proprietor, and Napoleon the
Little the supreme director, OF the whole varied
industry Of France. This is what we call Imperial
Socialism.
In order to realize this programme, Of course
financial operations are necessary; and H. Issac
Pereire, in laying out the work of the Crtd1 Medl
lier naturally feels himself on decste ground, and
is obliged to put limits to the Society which he con
sders purely accidental and intends shall disappear
in its development. The capital Of the Company
is fixed at GO, 600 900 francs, divided into 10000
shares of 500 francs each. The operations Of the
c, mpany, tuch as they are defined in the statutes,
NAV be ranged under three heads: first opera
tons for the support Of industry; secondly, the
creation of value issued BY the society to replace
~ n diff
enterprises; thirdly. the ordinary operations OF
banking, dealing in public funds, commercial
bills, etc.
The operations of the first category intended to
obtain for the Company the patronage of industry,
are enumerated in Art V. of the statutes which
says:
"To subscribe for or acquire public funds, shares or
Obligations in the different enterprises OF industry
or credit which organized in anonymous societies,
especially railways, canals mines ana otnet P9onc
To undertake all loans to transfer and realize them Is
well all enterprises of public works
We see how this article already goes beyond the
pretensions of the preamble BY proposing to make
the Crtdit Mo6iIer not only the proprietor OF such
great industrial enterprises but also the slave Of
the treasury and the despot Of commercial credit.
The operations of the second category, relating
to the substitution of the stock Of the Cred1 No
bey for the stock Of all other industrial enterprises,
embrace the following:
ITO issue in equal amounts, for the sums employed
for subscriptions Of loans and acquisitions OF industrial
| Stoke the society's own obligations
Articles and indicate the limits and the ns-
ture of the obligations the Company has power to
issue. Those obligations or bonds
"Are allowed to reach q sum equal TO ten times the
| amount of the capital They must always be repre-
s.nted for their total amount by public funds, shares
| ard obligations 10 the Company hands They cannot
be made PAYABLE al ess than IS days notice. Inc To-
ta amount Of the sums received on account current
and of the obligations created at less than years rum
shall not exceed twice the capital realized.
The third category, lastly, embraces the opera
tons necesstated by the exchange Of commercial
yalue,. "The Company receives money at CALI IL
is authorized " to sell or give In payment for loans
all sorts of funds papers, shares, and obligations
"held by it, and to exchange them for other val
"ues" Itlends on "public funds, deposits of share
"snd obligations, and it opens accounts current
"these different values" 1t offers to Anonymou
Societies all the ordinary services rendered by pr
vate bankers, such receiving all payments on &C
count of the societies paying their dividends, inter
est etc. 1t rtceives deposit the stocks Of thos
enterprises, but in the operations relating to tn
traffic in commercial values, bills, warrants, ETC.
sit is expressly understood that the society shall
"not make clandestine sales nor purchases for the
d" sake Of premium"