Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1864-12-08
OUR PARIS CORRESPONDENCE.
PARrs, NOVEMBER Is, 1864.

Tie extension OF public works in Paris has been so pro-
dgous Of late to give rise to report that the Govern
ment about to contract 0an 10 be called peace
Loan in order TO carry them out The alleged plan was
said to CONSIST of the foundation of nk of Public
Works, with capital of five hundred millions, to be
raised by loan Or rather to speak more correctly, this
Bank 10 be empowered 10 Issue its obiig tsons, or
bonds for the above amount rembursabe at the end OF
fifty years Tho liquidation Of principal and interest was
to be effected in the interim By the Bank BY means Of an
annual payment dotaon ii is called here, to be made
it out of the funds of the Extraordinary Budget to the
amount Of twenty FIVE millions and thus it waa argued
BY the chief promoters Of tn scheme, among whom was
NJ dc Persgney that instead of being tied down to the
paltry expenditure Of the twenty-five millions per annum
which refused the interest only Of the transaction the
Government might spend the capital at once give the
public the benefit and advantage OF all the contemplated
improvements and throw the liquidation Of them over the
next fifty years in the contemplated The plan 10
no doubt specious aud tempting and quite in accordance
with the financial policy Of the second Empire, which ia
decidedly of "go ahead character, and always ready
to spend capital profusely whether monetary or po
ltcal There wss to be sure little objection in
the way Of this scheme OF amateur nancersfor what
can M lie Due de Psrsiguey know really and practically
about finance iand that The consideration whether
the present momen when the rates of discount at the
banks Of France and England had just been at eight
nine per cent and while financial crisis was
making itself felt in the latter country whether that
precisely the best moment for sinking FIVE hundred mil
lions Of hard cash in the comparatively upproductve in
vestment OF public works and Embellishments
The Imperial Government seems to have been wise
enough to regard .be being at least noppor
tune aud consequently official note inserted the
other day in the Moniur to the effect that the plan
much talked about by the public had not been adopted
m
ever that the design has been defnvely abandoned
And indeed the extension given to public works aud
beIlshmentS IN all directions ,uch that it is clearly i'm
poshIe that the Government hope to qudste every
thing by the budgets either ordinary extraordinary
There are st this moment severa of ground
petely denuded OF houses 10 Of the most densey In
habed parts OF Paris the Hayre railway station, in
the heart of the town Every thing has been pulled down
10 make way for the new Boulevard HaupmaUn, called
after the Project Of Paris and other and splendid
lines Of thoroughare To look at the huge gaps left and
the havoc made would suppose that battery OF
had been playing the spot for twentyour hours On
the north side Of Paris small mountain is being eeeled
d5wn and caFed away to Gil up valley the south side,
where space OF than mile square Is preparing for
new building sites, and viii form entirely quarter
Of the capital Besides the stupendous repa rather
ressoraons Of the Cathedral Of Notre Dame and Of al
most every other religious sdlce 10 Pars half dozen
new churches or them Of gigantic rising at
different points. The Grand Opera 10 costing millions
and is rapidly urged forward Then there the prodIeous
tk Of rebuilding the immense Hotel Deu Great City
Hospital the largest perhaps In the world And again in
the northeast Of the town. n the mdst Of the great
factoring ard ronforge district peoples park" 10
being laid out, formed q what called The baes or
knobs Of st. Chsumont very high rising ground in
rough state and worked chalk and gravel ps More
than twelve miles Of rail and tram road have been laid
down upon this to bring II ino order and Eve hundred
wagons, drawn by steam engines and horses, with inn
mense gangs Of laborers at work upon IT, All this
Of course involves indefinite outlay There parts Of
the town where the Oldest inhabsnt quite loses him.
SELF 30 wholly they transformed passed through
one Of these the other day and found police stationed to
show people their way, which was obliged TO ask myself
after fifteen years acquaintance All this 10 very won
defu and beautiful but at the same time very costly
European complete blank for the last few days.
We await anrouy the result OF the election In America
on which public attention IN exclusively fired In
deed American alone presents At this moment any
decisive interest