The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-12-01
FRENCH FINANCE.


Paris NOV. l8) correspondence OF London Imes.l
Financial people are anxious to know the plans OF NJ
Magne particularly - when he formerly held the office
of Chancellor Of the French Exchequer he laid himself
open to she reproach Of want Of rmness resisting the
exgencas which had brought the finances TO the situa
tion they when NJ Foud called In TO remedy
the evil. NJ Msgne viii have great deal TO do, and In
the present somewhat precaous state OF European poll
tics II ID impossible TO 60 ON with tho embarrassments
by the actual deficits OF the Treasury and
divers expediens by which the Project Of the Seine has
managed to anticipate for years to come tho estimated
schemes for pushing to extravagant pitch the pub
lie works OF Paris has been repeatedly pointed out Tho
government seem at last 10 perceive that much has
sented TO the Legislative body in accordance with
the existing laws as well as with prudence. With 70.
gard to the deficit Of the Treasury the Minister is said
to count upon such 10 reduce itas for in
stance, the LIQUIDATION Of the Army Dotaton fund,
sutng from the abolition Of the system Of substitution
that fund at the disposal OF the Treasury. is also
said that some measure win be brought forward for the
relief OF those who have suffered BY the failure in
Mexico, and that ON the payment Of the premium
called In financial language s0ulte, such a. adopted
by NJ Foud in his conversion scheme q few years ago.
these Mexican bonds will be converted All these expsd
ents, however, will not suffice TO reduce TO fair pro-
portions the floating debt Tho Ssnsaine Fyaan-
s authority on such subject ar%s
not be responsibilities IL, that loan should
not be proposed. 1t says "H is to be hoped, how
than is absolutely necessary, and that he will have
operations of charatanry which, under pre-
tence Of fresh impuI,on to be given public works
termed by chimerica people peace Loan NJ Magne
must prove himself TO be strict guardian of the public
fortune in fact he acquire little OF that ferocity
which NJ Theirs once reproached him for not having
enough Of"
Since bread has grown dear the attention of the
agricultural journals is particularly directed to the
last harvest the deficiency OF which is varously est
mated. The Gazette des Campaqnes for instance. af-
firms that for all the countries in the west Of Eu-
rope it amounts to no more than five millions Of
hectoitres This, however, Is worry far under the
mark; for by tho most trustworthy estimate ten
millions will be required for France alone. In
Algeria, moreover, the harvest has been almost
null; in SPAN hardly enough for ordinary consump-
ton; and Portugal it appears, is not much better
or 4 compstent writer on this most important sub
ject (M dAspremont declares that there Is
cause for alarm. France has experienced much worse
years. and nobody died Of starvation In 1915 the def.
cit about twenty millions Of hectoress in 1885,
sixteen millions; and the estimated amount this year IS
has boon already SAID ten millions II be borne
in mind too that the commercial reforms passed since
then greatly facilitate the obtaining supplies that steam
enables ships laden with grain to reach their
destination the day and nearly at the hour expected
and that railways allow of the conveyance within very
short time of supplies from one point of the territory
the other For the present he arms that the trades
are sufficiently supplied to meet all requirements, and
that cargoes uninterrupedy coming into the ports
In these circumstances 1t is probable that the kio
grammc loaf q lbs. 2-5ths or will not be much
than one franc and a. the worst the prices Of grain will
There Is another motive against tho disbursement
which has been spreading Paris in tho fact that IL the
harvest is bad in France has been good 10 Of the
countries which habituay supply Western Europe. If
the Baltic which often exports great quantities Of
grain, the harvest is scanty this year. and such It is
will have TO be sent to Finland aud Sweden and II the
be said of the Danubian Provinces the shores OF
Black Sea and the Sea Of Azof have large supplies
at the disposal OF the West and Turkey, Egypt and
Hungary will likewise furnish thor contngents Hopes,
too entertained Of what the United States do
M. dAsprsmont adds after speaking OF California
Australa:-But limiting ourselves 70 the countries
which for long time past produce much more than
they consume we may easily I'LL up the void in our
granares The dangr is not, then, for France which
England where the deficit is permanent What would
the English do II they could not procure all tho grain
necessary for their subsistenceS This is abnormal
situation which should make economists reflect
The arrivals OF Marseies certainly consid-
cradle, but 1t is almost the only port where there Ia
mitch activity, for the quantity that enters Havrs
omparatvely Insignificant In September the excess
Of imports exports in this article only 776330
metrcai quiuals, and Il was not last month Tho
activity is great Marselles Tho suspension Of the
extra tar cereals imported in foreign ships has given
wonderful impulse TO the trade of that great city The
purchases made in day FRIDAY LAST said to have
amounted TO about 1000 hectoiitrss. Az bordeaux
business dull, but prices keep up. AT Rouen -four s
on the rise and wheat hrm