New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-01-12
or commodities for export TO them have been specu.

raised the rate Of interest to the English standard,
it did this only for fear lest French capital should
seek more profitable employment abroad.
But il cannot be denied that the general crisis
has, even in its present phase told on France IN
form agreeable 10 the commercial relations OF that
country With the United States, England and the
HsBeatic towns viz. in the chronic form OF dis
tress. Ithas forced BOnapsrte-whO, in his letter
Of November H. declared "the evil to exist In
the imagination only" come out with another
official message TO tho effect that " in spite of the
prudence Of French trade and the vigilance OF
{" the Government the commercial crisis has Obliged
many branches Of industry, if not to suspend
work, at any rate to shorten their time or lower
"their wages =" sothat "manyworkmen suffer from
forced dleness" He has consequently opened
credit OF million francs for the relefOf the necessi
tous and finding them means Of employment; ne has
ordered military precautions to be taken at Lyons;
and, through his journals, has appealed to private
charity The Withdrawals from the savings banks
have begun by far to exceed the deposits. Heavy
losses from failures in America and England have
been sustained by many manufacturers, pro-
ducton is contracting TO disastrous degree at
Paris, Lyons, Muhlhausen Roubai1, Rouen Lille,
Nantes, ST. Etienne, and other industrial centers,
while serious embarrassment prevail at Msrseues,
Havre and Bordeaux.
The general stagnatiOn Of trade throughout the
country ia most evident from the last monthly re-
port of the Bank of France, which shows for the
month Of December decrease in circulation of
73,040000 francs. as compared with October, and
Of 1885, 900 francs as compared with November;
while the aggregate Of discounts has fallen about
100000, 900 francs if compared with October, and
1907 ,059 francs compared with November In
the present state of the French press il is, ei
course not possible TO ascertain the exact state of
the failures occurring in provincial towns but the
Paris bankruptcies although certainly not yet
serious, exhibit a tendency to grow not only in
invoked. In the fortnight from Nov. IL to
Dec thirty -four Paris bankruptcies only Oc-
CURED, Of which not fewer than twenty-four were
Of dealers in secondhand clothes, milk-deaers,
tailOrs, artificial flower makers, cabinet-makers,
retcule makers, gders, leather dealers, jewellers,
ers, &C. From the st of December I'D to the 9Th the
bankruptcies were no fewer than thirty-one and
from the 9th to the 18th the number amounted to
thirty -four, including some of greater importance,
such as Messrs. Bourbon, Dubuch q Co., bankers;
the General Company of roitares deremiSe, Compa-
ny for jacquard looms, an oil Company. &c On the
other hand, BOnaparte's attempt at checking the
ruinous fall in the prices of wheat and -four by the
abrogaton of the prohibition DEGREES, has proved
failure, prices having progressively sunk from the
2Gth November to the 2lst of December, and de-
spite q fair margin of profit on sales in London, no
more than 8 900 sacks (of 10 kiloPrammes) being
shipped tbither up to the 22d of December.
If, however the balance of trade is in favor of
France liz her dealings with the United States,
England, and the IIanseatic towns it is against her
in her commerce with Southern Russia the Zoll-
yerein, Holland, Belgium, the Leyant and Italy.
AS to Switzerland, the Temporary balance OF trade
is always against her. but France is so deeply In
dcbted to her-most of the Alsatian manufactures
being carried on by Swiss capital-that in times of
monetary scarcity she may always heavily pull upon
the French money market At this period, as at
every former one there will BIZ no active French
crisis before the commercial difficulties in those
countries have reached a certain hight. That HOl-
land cannot tide over the present storm, will be
understood on the simple consideration that her
still large commerce is almost limited to that de-
scription of produce which has undergone and is
progressively undergoing the most fatal depreciation.
In the industrial centers of the ZOllyerein the pre-
monitory symptoms of the crisis are already visible.
Apprehensous of crash in the Black Sea and Lee
yantine trade are announcing themselves IN the
Trieste papers, and its first precursory flashes
have suficed to bring down some large houses at
Marssies In Italy, finally, the monetary panic,
at the very moment that il seems subsiding IN the
North of Europe, has burst out ablaze, as will be
seen from the following extract from the OPniOae
Of Milan of Dee. Is;
"Thc difficulties of the present time are very, very
GREAT: failures are occurring frighttul scale, AID
after those Of Pallear OF Ballsbio and Co., of Gig
hera of Redae, Of Wtchlcr and MazzOs, after the
contccopp of foreign cities, after the suspension OF
uayments by the best houses of Verona Venice UdinO
and Bergamo our strongest firms also begin to wayer
and 70 make up their accounts. And the accounts are
very sad Let il suffice to remark that among our
reat silk houses there not that has in warehouse
less quantity than so 900 pounds Of silk whence II is
easv TO calculate that at present prices every one Of
n EN- must lose from half million to two millions Of
franCs-the stock OF some OF them exceeding l5O,OJ
H. The firm of Brambills Brothers was supported
bv a loan of one million and half Of francs; Battsta
Cavazzi Is hqudating, and others doing the sane
Every man asks himself what we have to look for
ward to: many fortunes vanished, many reduced
bv one.haf so many families lately in easy circum-
stances. now al their last shift many wOrkmen
without work or bread Of subsistence Of any
kind
When the French crisis, consequent upon the
growing pressure from these countries, comes TO
maturity, it VII have to grapple with nation OF
Gamblers. if not OF commercial adventures, and