The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-06-28

us 70 hope that the day Is not distant when our pre-
the simple and beautiful system of decimal coinage
! which has been 80 frequently advocated In our
columns. We shall here simply give again the de-
nominations we would ooin:-
Gold. ....... 10 rupees expressed decimally 10. 0
do. 8 rupees do. do. s. 0
do.......... rupees do. do. 2. 0
| Silver. l rupee do. do l.
SS. :. rupee rupee S &c., d DO: rs as
| Copper. ....... the decide do. do 10
| do. .......... the doganee do. do. -0l
Our only new coins would be the copper decline
| ana the doganee and as we should retain the pre-.
sent pie for the convenience of the poor it Is impos
stle that the change could be felt to be inconve-
nieut.
Drain OF silver from Europe TO the East.
From the Bombay Times, May a
| Immense as was the import Of bullion in the last
official year, Il has already been far exceeded in the
| nine months only which have elapsed of the cur.
rent one, and we shall be within the mark il we
in the country at 10000, 900 to IL 900 900 sterling
Now, if take the starting point of the recent
| demand for silver the year l850.l85l, and compare
the average Of the seven last years with that Of the
sixteen preceding, we find that for the former we
have an animal amount of the precious metals re-
tanned in the country Of 100000, against annual
accumulation of only 100000 previously. Ia
other words, India is Weather to-day by nearly
40 crores Of rupees than she was in 1850
in the precious metals alone, making no
account whatever of her increased wealth
landed and personal property and in
throughout the vast extent of her territories. II is
well to oppose facts such these to the angry mis-
representations OF men of the Malcolm Levin stamp.
The world has never before seen conquered empire
governed with the wisdom and the honesty which
characterize the English rule in India, and il we
sometimes speak sharply for the interests of the
people, is not that we believe ourselves honester
or wiser than they whs have the reins of power,
but that the press is the legitimate stmuIant Of
whole social and economic system. The resources
of Scinde and the Punjab beginning to be rapidly de-
veloped; the immense demand for produce which the
Russian created in this country and which is now
permanently established; the marvellous growth of
our commercial relations with continental Europe
der the enlightened laws which invite ell men to
deal In our markets on an equal footing; and the
growth and prosperity of the cotton trade in the last
few years. sufficiently account for the state of mat
ters on which we have to congratulate ourselves.
We make mention Of the introduction of rail WAYS
for, although in the process of their construction
they enrichng masses of the laboriug poor their
day OF triumph is yet to come, and glorious one 1t
will assuredly be for India Government may do
much to hasten the coming Of the great future
looming grandly in the horizon; but these misera-
BILE wars, on which millions are heedlessly sqIander
ed must cease, and the question Of public works be
taken up in earnest. The capital of public works
loan, whenever laid out in India judiciousy would
be sowing silver to reap god and he is the enlight-
ened statesman who, graspng the idea, will force it
into adequate expression. we had intended to
make some remarks in further advocacy Of a gold
currency for India but must defer them for the
present
Charter and Privileges OF the Bank OF France.
The Paris Monitor of llth of June contains an
imperial decree promugating the new law for the
continuance of the privilege Of the Bank of France,
as foows:-
Art. i. The privilege conferred on the bank BY
the laws of the Gath Germina. year H. the 22d Of
April 1906, and Of the 30th Of June, ls4o the term
Of which would expire on the 3lst December, 1867,
Is prolonged Cor thirty years, and viii not eai be.
fore Tie 3lst OF December 1897
Art 2. The capital OF the bank represented o.
present BY ESQ shares, will be represented in ia
tuIe by ls2, 500 shares, ot the nominal value Of
,O0Of each, not including the reserve fund.
Ant 3. The 1880 newly created shares viii he
exclusively assigned to tha holders Of the 81 go
shares now existing, and they will have 10 pay the
price IF the same, at the rate Of OOf. per share,
into tbe golfers OF the bank, N quarterly insisi-
menis, within the term of one year at the latest,
dating from the PRONUNCIATION of the present Law.
The period Of the first payment and the conditions
on which the shareholders Can be permitted to anti
sion of the bank.
Art The produce Of these new shares viii be
applied, until the completion of the whole amount of
81 $50 oO0f TO the formation 81 the capital detcf-
mined by the second article and regards the sur
Plus to the augmentation OF the reserve fund now
existing.
Art. s. Out Of the produce OF the said shares a
sum Of one hundred millions will be paid Into the
public treasury IN the Of 1882 at such periods
as shall be agreed upon by the finance minister and
the bank.
This sum viii be set apart for the diminution OF
deficits in the treasury.
The finance minister is authorized to ca,se the
insertion in the great book OF the public debt OF tho
sum Of three per cent reutes necessary for the en-
ploynent Of the said sam Of one hundred mil ions.
sinking fund eqnal 70 onehundredth o. the
normal capital Of the said rentcs will he added to
thu dotation Of the sinking fund.
The Ientes will be transferred 10 the Bank Of
France at the average quotation OF The month pre-.
lover than seycutv.fve francs.
Art. 6. OF the rentss Inscribed at the Treasury in
the name Of the sinking fund stock, aud proceeding
from the consolidation Of the reserve Il the sinking
fund, there shall be erased from the great book OF
the public debt a sum equal TO that Of the rea;es
created by the preceding article.
Tho rentcs viii be dc lnityoly cancelled as to ca
| pal and arrears, dating from the day wien the new
| rentes shall be transferred 10 the be06.
Art The faculty accorded 20 the bank OF making
advances Oh French public stock. on French railway
shares and debentures. and debenres Of the city
OF Paris is extended 10 the deDenures issued by the
| Credi. Concier Company OF France.
The general regulations touching the mode Of car
| ring out the preceding paragraph are 70 be APP
Att S. The Back OF France, should circumstances
require nav arise 10 above per cent the scale Of dis
| counts and the interest on its advances.
| The profits accruing n the bank from the eyer
| else of this power viii he deducted from the sums
yearly divided among the shareholders, and are to
| be added 10 the JOIN, stock fund.
Art. 9. The Bank of France will be allowed 10
reduce TO sOtr. the minimum amount OF its notes OF
| issue.
Art. 10. Ten years after the PRONUNCIATION Of the
| present law the government may require the Bank
of France 70 establish branch bank 10 the depart
| ments were none exist.
Art III. Ire interest due from the Treasury on its
| running account will be regulated after the scale
fixed BY the bank for the discount OF paper in the
! market, but must not exceed per cent.
Art. IL. A regulation Of the government will de
terpine With respect 60 such shareholders In
capable Of paying the whole their arrears, what
measures shall be requisite for the execution o. the
present law.
The Commerce md Progress Of France.
| Prom the London Poet, June lo
| Under any circumstances the condition OF our
nearest neighbors, the French, must be a matter Of
moment TO England. Intimately allied as we are,