The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-01-04

sdly osssIy: ne nation was o.srburdsasd ~ita eza
sSssrsaos from ns~ snssss. we're prsscrSss =
absolutely essential 70 restoration Of the equilorsm
between expenditure and income. We must acknowi-
TIE prescription has been followed Treaties
OF peaceful commerce have taken the place
Ss,hspIIv ea ance ana me new p0nIy aooisst
results n France has appeared to depart from
her ancient policy In declining interfere while North
rsaIi gained by aossnence oaicA has been mis's.
priced az decasre n poos. Il Foud can point 70 me
empire rrsfagable proof OF the material develop
ent OF the nation, and he boast that he has sur
plus almost Il nos actually within mis- grasp But at
gins 70 loom n the future. A the Finance Minister
carries forward his sarvey o. the imperial finances he
q the army and he escapes from she painful
p:.o: ss means sS. so@sSea = SssossssS % meet
\ Iculd has = usual 70 review The finances Of four
Zeem = ooce The accounts Of 1885 may - rid TO b.
s vSioS wsy ne SsIass: VIII s n, WIZ When sSs ss%ssss
@ 49, we're nse issned three ysan ego surplus was
Sood & L. q: s:pO e &c s.sr
ospss n excsa q expenditure Last Dsceubcr " foud
thought ~ had reason 70 hops thaI 1875 would b y
saS ss ss a. q & = Il s a., s' .so.s . s
sa1aoss and but for IN unsxpectsd economy u some
Sy : s q sno .es S. sss s:s
is sios:shS % siise 90, remain IN . The port:
interior m Ths y.ss ISIS ss 1 how
sver proved g be one 0f unlsgnsd prosperity France
& so e. Ss ,s az e e:
by ~ 400 000 and thu pfooseds Of IL same elevss
months Of 1885 BY 81, This sugnsniation g
penses and unexpected deHc,eucIes 81 revsnne.
Aessco has ooain proved snpvcftabe me Minister Of
War has demanded an lncrease OF quarter Of million
for supplies 70 the Mexican army, the Mnister OF
Finance had to contribute f32 900 towards Its pay chest
and on the other hand, the dssnssiy Of $500 600 Which
the Aezicoa government ougM 70 h0us rtd 70 France has
not been received But the WHOLE n. Fould thinks
he has once moro ground to hope that the expenditure
and receipts Of 1895 will balance themselves and trust
his fond anticipations win be realized The floating debt
the measure Of accumulated DEFICIENCIES amounting to
oo0 has indeed apparently increased BY four
millions sterling but the each balances have increased
to an equal amount; that the net sum due current
debts remains much the same Il was twelve months
since Il is, however, 70 1867 thai H. Fould has long
looked forward year promise In that year the
sinking fund Is destined to become once more effective
The new arrangement protected twelve months since
by which the produce OF the national forests was set
apart from the Ordinary income IN order to meet the
railway guarantees and provide balance for the pur
year n Foud hoped the balance for investment would
be million sterling; the estimated amount payable in
railway guarantees ,240 900 has not changed but
for some unknown reason the available balance has
sunk to 100000 90 svr ora ea. 44 8K
80 - NJ Fould says that the receipt Of indirect
and the estimate OF ls67-framed two years IN ad
vance-was based that OF 1896, he justified be-
i,eving that the result viii be At least 900 above
remind him that he anticipated increase In his first
estimaso and indeed the gratitude Of NJ Foud the
cs Whom we reflect says the Minister OF Finance 70
the Emperor, upon the unexpected charges or q
armament The cost OF fetching homo troops the damage
q the iIundarons and the outlay, public works,
there reason 70 congratulate ourselves that ali these
posing new taxes or Of appealing to credit. We are Of
the same mind as N. Fould, but forbear from, ha
oong till We are out Of The wood The year 1867 has
not yet begun and II the rectcatory budget leaves
with amere hope OF equilibrium, there reason
to be apprehensve lest the deAnvs budget should put
The uncertainty attaching 70 1867 gives uslttle heart
to revow the guesses ~ 1858. Why should 60
again the old story Of hopes fased promises broken
the blessing Of rctronchment deferred ~ Fould how
ever is superior to disappointment Although he has
been ofen deceived hs chsrishes the sions Of youth
The ordinary expenditure OF 1858 isput dOwu, them
At fSl $40 COO an increase OF million over that Ok
1857; the extraOrdnarvD expendtufb Is estimated ~
oe also seows 20 On e sS SSs
and the "extraerdnary' At ESQ., 600. There rs thus
snown ct the outset Affirming dencicncy the joint
budgets This, however, is NOT The worst Behind all
is the project OF the reorganization Of the army
less sanguine man than H. Foud might be alarmed At
ea ss has Sa
Of the army shall be the subject Of special PROPOSE
TONS and he has faith in the Emperor. The ordinary
revenue Of the empire Is elastic, and In 1858 many
sources Of expenditure win be stopped There sviu no
t,n0v be garrivn Ssantained at Rome and array
DeCOm6 Tcmuu6r6tlvo,
recti0catory budget must decline 70 trife, and the
equilibrium of French finances will ut last DO definitely
assured II rs plain that France Isl have said just
now ct turning po,nt BY the suppression Of tho sink
ing fund the income and expend Of 1885 will nearly
balance The service Il il called Of 1865 is about
equally promising. and that OF 1857 much tho
favorable since there 10 dim prospect that in that
year the forces income set apart for the redemption Of
debt may b preserved ipvioats \, r -, y,
If this anticipation DO realized, and u possible
though the hope OF II V small next year VIII enjoy
surp5uA The calculations Of ali these three years have
hovpver been dsaranged by the expenses OF the Mexi
en- expedition, which cannot we'll occasion additional
expenditure after 1857. II y plain that France has
xfes chance the domestic economy OF the past th1e
or four years. and the abstinence from Intervention In
external politics which been marvelously exsmp-
lined In the last summer, be maintained, France might
reasonably hope 70 sec . remission OF taxation In
1892 II not In $685. and n. Fouid would bshold the
desire OF his eyes accomplished. But the scheme OF
putting the nation under arms, must realized scatter
ali such antcipations n Fould may rest
upon the imperial promise that special propostipns
shall be forthcoming when the reorganization Is deddod
upon but such proportions must prove the deahblcw Of
all his hopes The subtraction from industrial puuits
OF many moro Of the youth and manhood Of FAucs
must OF ITSELF check the growth OF tho revenue OF the
empire; and At the Same tme the expenditure nus
necessarily be increased by the increase In tho nunbe
enrolled the army. n Fould's report thus adds wight
to the condemnation Of the scheme which been
oppressed BY every organ Of FREQ opinion In Prince
Nothing show eloquently than the hguns Of
this report the rorogradc character of the plcy
nothing could furnish better justification for re0ding
from H. ss -1......