The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-22

From tho London Chronicle Nov.
Finance has presented for than three generations,
the standing difficulty with successive governments Of
France. During the reign OF Louis XVI minister after
minister try his hand devisng means or
contriving system by which IL would be possible To
"comllr u dtcit" But all the systems, with some
variations in detail based upon the prncpleof mort.
gngng the future OF the state upon
terms for the sake OF obtaining money meet immediate
oxgcncics they all broke down deplorably leaving mat.
ters worse than before The deficit far from being
"choked" went increasing until tho point reached
when utter restitution compelled the King sanction the
first act 81 the revolution by converting the States General
whose members expected 10 provide the ways and
means" which neither the power Of the monarch the
ingenuity Of his minister's had been able raise. After
the monarchy fell the financial difficulty REQUIRED with
succeeding governments Under the Assembly, under
the Directory and oner forms in which the republican
ideal Of administration was sought 10 be realized the
French exchequcr almost invariably bankrupt The
armies of the republic left without pay and
times without shoes because the state had funds at
ts disposal Upon the restoration OF the Bourbons
similar recurrence OF annual deficits pcrpetualy aug
menting amount took place though the evil par
tally yelled and not little assuagcd in It's effects by
dexterous use Of the modern system Of loan mongerng
Louis Philippe after the three days undertook to govern
the country upon strictly economical principles, and
this was Internationally proclaimed Mt every oppor.
moro deeply IN debt than he found her. The tran
sent governments that rose and fell 50 rapidly
after the revolution of February, lSis, lived
hardly long enough realize the full extent q their din
cues but oil those who attempted 10 direct the affairs
the state from Amarne 10 Cavaignac found themselves
terribly pnchcd for money, and were never for moment
able congratulate the country that was honestly pay
ing is way. Finally when Napoleon III "a President
Emperor became ruler &c France innumerabe prognos
&c were hazarded that he would be baed by the
insurmounablc obstacle Trusting their "reminiscences
Of the past political opponents jealous rivals who
could End no other ground ON which 70 hope for the sub
version of the imperial government, eagerly prophesied
that must speedily fall into pecuniary embarrassments
by the event need not say. During the Ave
years that have passed since Napoleon III.
chosen ruler Of France there has been no deficit
the ordinary finances Of tho State, and signs Of
Impoverished either in the government the country
10 much the contrary indeed that while the public
MUGS have shown unexampled huoyancy the aggregate
wealth o. the nation has augmented in FAR larger degree
The fact that France has within the last three years pro
vidcd funds and supplies FOR far costly than
any which abe ever waged before without experiencing
the slightest interruption 70 her domestic prosperity
speaks volumes for the deveopement of tho national
sources and the sound basis which the public finances
have been paced The nrst Napoleon conducted vast mi
tary operations upon system then accepted by general
opinion and In biz case available for use--,hat war
should maintain itself" Tho Crimca was invaded at
n period when the sentiments OF the civilized world
this subject bad undergone notable change;
and the with Russia was accompanied, moreover
by very exceptional cucumstances All tho OK.
pcnges OF that necessarily borne by the bc.
ecrent parties and France her share provided besides
100000 Of her braves soldiers at least hundred mil
lions sterling in actual money Fifty thirty, years
ago this effort would have proved utterly exhaustive The
country could not have stood the drain without suffering
complete paralysis Of all commerce and industry followed
by the most practical evidences dsed every
class that the nation had been suddenly smtten with po
verify As was the money was found without the slight
est difficulty and the French people, far from thinking
Themselves impoverished have learnt by the most unde
niable proof that they are richer than Tho new
budget just issued by NJ Magnc, the Finance Minister
and giving the financial estimate for presents no ex
cepton 10 Ito general rule established by Us predcces
sors Expanding revenues and elastic margin of
beyond expenditure, stli heretofore the results
exhibited upon the state balance sheet Thus appears
that when in the estimate for the ssrrent year
computed that surplus o. "a 900 os0 tsnes or little short
Of million sterling would be left over cr Me service Of
1868 the increase Of has arsay aunened that
margin by another 90 900 600 francs under circum.
stances, moreover which promise new and even larger
expansions before the close ~ Me next financial year
Instead OF having deficit to oil up a. IN the Las, years
Of Louis Philippe or during the reign OF the republic,
the ministers OF Napoleon iii. are able to dispose
Of large surplus, aud hagne accordingly