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

TO hope that the day is not distant when our pre-
sent arbitrary divisions OF value will give place to
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 TO-
do......... rupees do. do. 2. O
Silver. ! rupee do. do. l. 0
do. .......... rupee do. do. 10
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 i impos
stle that the change could be feit to be inconve-
nient.
Drain Of silver from Europe TO the East.
From the Bombay Times May
Immense as was the import OF bullion in the last
nine months only which have elapsed of the cur
rent one, and we shall be within the mark il we
estimate the quantity of bullion retained this year
in the country at 100000 to - 900 900 sterling.
Now, if We take as the starting point Of the recent
demand for silver the year ls50-ls5l, and compare
the average of the seven last years with that Of the
sixteen preceding we find that for the former we
tanned in the country Of 900 against an annual
accumulation Of only 100000 previously. Ia
other words, India ia weather to-day by nearly
40 crores Of rupees than she was in 1850
account whatever of her increased wealth
in landed and personal property, and in
public and private works Of improvement,
throughout the vast extent of her territories. II is
well to oppose facts such as 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 it is not that we believe ourselves honeser
or wiser than they whe have the rens of power,
but that the press is the legitimate stimuant Of
vtnn stov ond foVr Mn
Of Scinde and the Punab beginning to be rapidly de-
veloped; the immense demand for produce which the
Russian war created in this country and which is
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
tiers 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 enrching masses of the laboriug poor their
day Of triumph is yet to come, and glorious one it
will assuredy be for India. Government may do
much to hasten the coming of the great future
looming grandly in the horizon; but these misera-
bic wars, on which millions are heedessiy sqEander-
ed must cease, and the question Of public works be
taken up in earnest The capital of public works
loan, whenever laid ont in India judiciously, would
be sowing silver to reap gold, and he is the enlight
into adequate expression. We had intended to
make some remarks in further advocacy Of q 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 promulgatng the new law for the
continuance of the privilege OF the Bank of France,
as follows
Arr. /. The privilege conferred on the bank BY
the laws of the Gath Germinal, year IL. the 22d Of
April 1906, and Of the 30th Of June 1870 The term
Of which would expire on the Slst December, 1867,
is prolonged Cor thirty years. and viii not emf be-
fore Tic 3lst of December, 1897.
Art 2. The capital of the bank, represented o.
present by el ,250 shares, will be represented in ia
ture by ls2,5o0 shares, Of the nominal value Of
,O0Of each, not Including the reserve fund.
AIT 3. The 81 $50 newly created shares will he
exclusively assigned to the holders Of the u go
shares now existing and they will Asye to pay the
price Of the same, at the rate Of LOOT per SHARE
into TIE coaers OF the bank N quarterly install.
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
cipate the further payments will be fixed by deci
sion of the bank.
Ar The produce Of these new shares will be
applied, until the completion Of the whole amount of
81 ESQ 000f TO the formation 81 the capital detof
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 the course of 1859, at such periods
as shall be agreed upon by the finance minister and
the bank.
This sum viii DO set apar, for the diminution of
deficits in the treasury.
The finance minister is authorized to cause the
insertion in the great book OF the public debt OF the
FUN of three per cent renes necessary for the en-
ployneni Of TIE said sam Of one hundred mil ions.
sinking fund eqnal to one-hundredth OF the
normal capital Of the said rentes will he added to
thu dctation Of the sinking fund.
The Ientes will be transferred TO the Bank OF
France, at the average quotation OF the month pre-
.nel nNI lft nrIrp no
lower than seventy i've 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 grea, book of
the public debt sum equal TO that Cf the renies
created by the preceding article.
The rentcs viii be dolntlvcly cancelled AZ to ca
p,a and Arrears, dating from the day when the new
rentes shall be transferred TO the bank
Art.7. The faculty accorded 10 the bank OF making
advances Oh French public stock on French railway
shares and debentlres and debentres Of the city
OF Paris is extended 10 the debentures issued by the
Credit Concier Company OF France.
The general regulations touching the mode Of car.
ring out the preceding paragraph are to be ap'
Att S. The Back OF France, should circumstances
require nay arise to above per cent the scale Of dis
counts snd the interest on its advances.
The profits sccruing 70 the bank from the exer-
else of this power viii be deducted from the sums
yearly divided among the shareholders, and are to
be added 20 the joint stock fund.
Art. Q. The Bank OF France will be allowed TO
reduce to s0fr. the minimum amount OF its notes or
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 IL. TIE interest due from the Treasury on its
running account will he 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
tprniDe with respect uch shareholders "a are
capable Of paying the whole or their arrears, what
measures shall be requisite FOR the execution Of the
present law.
The Commerce md Progress of France.
From 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,
and have been now for several YEAR. 10 the great