The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-04-01

| any supplementary extraordinary credits; the
General and Municipal Councils, the law on the
liberty ofthe press that on coalitions and, lastly,
Legislature and which relates to the right OF meet
| ing. The aggregate OF those enactments issues SO
to speak, from the womb of the constitution which
lends itself to all the movements OF liberty, ana
which, in that respect had character OF novelty as
bold as il was fruitful To appreciate It's liberality
ing monarchies. That is what the Emperor himself
did In his speech on opening the session OF 1861.
wards comes the Introduction to the constitution Of
January IA, 1852, and the text OF the document
There are several annexes to the work. First,
tables of the given in the successive elections
which conferred on Prince Louis Napoleon the post
sembiy, partial elections OF June A, 1885, June 1s,
lS4S and September II, 1S48; secondly, general
the election of the President of the repubic thirdly
statement Of the votes the pebiscite Of December
2, 1851 proposed for the acceptance Of the French
peoples and fOurthy tables OF the votes given the
pebscte presented on the 2lst and 22d Of November
1852; re.establishment Of the empire.
The Other Side In a Pamphlet-C0st Of Impe.
rinIism Under Napoleon.
Paris March 19) correspondence Of London Times ]
At the very moment when the Emperor Napoleon
Is publishing, or at least authorizing the publication
nature OF his government, another pamphlet appears
with the somewhat OminOus title "Bilan de PEm-
sheet OF the its
Is from the pen Of skilful writer on political
econmy, M. ]. Horn gentleman who is strong in
statistics, and who has at his disposal array Of
figures that takes ones breath away. M. Horn shows
that the public expenditure during the first fifteen
eeu Gl ase empire Of Y Sc
OF December, 1851 and the official PRONUNCIATION Of
the new regime has been enormous beyond prece-
dent. He divides the whole time into periods OF five
years. During the first that Is from 1852 to 1885, the
public expenditure amounted to 9e43, 77s, 1881,
yearly average Of 1925 1856 1897. The second, from
At
2,042, 752 O94f. And the third, from 1852 to 1885,
ai:iSa soy 1881; average per year, 2226 e6l, es7f
81 00O O0Of or an average of 066 O00 00Of year.
On comparing the second period with the first 1t will
compared with the second still further increase
of 92l and Oh the third compared with the
first, an increase Of nearly 900 or nearly
300, 000 000f on the annual average Of expenditure
Was the original starting point low enough
to admit of such progressions BY no means;
for at the very outset the imperial government shot
far beyond the governments that went before it.
The five years previOus-viZ., 1S47 to 1851-showed
1881 900 00o total expenditures so that IN its in
fancy the imperial government began by spending
on an average $685. 0O0 year more than its prede
cessors. The progress will seem the greater -set.
compare the first fifteen years OF the empire with
fifteen normal years OF the July government During
the period between 1892 and lS46 the total public ex
to be placed to the account OF the period from 1852 to
1866 Is near II 000 ,00Of in other words the i'm
peria government has spent 500 600 000E year more
than the governments that preceded 1t.
NJ Horn disclams all idea Of proposing plans of
financial reform. 1t Is merely the balance sheet OF
the empire, drawn up cOnsclentOusy and Impair
tally which he gives, and he relies only official
documents. His conclusion Is as foows:-During
the fifteen years Of its existence 1852 to 1885, the
imperial government has spent $1,000 100000 Of
francs, or L. 000f more than the July govern
ment In the same space Of time-lS32 to lS46. or
these 81 000f nearly threefourths have been
absorbed by expenses, either partially sterile debt,
&c worse than sterile (war, MARINE &c.l, or OF
| questionable utility. Nevertheless, these three
fOurths 900 600 OO0) represent the total OF what
| has ibeen drawn from the ordinary resources-the
| sure and positive resources Of the country. The
| results OF that dispropOrtOn between the
| medns and requirements are the elasticity
OF the impOsts broken down under the heavy weight
imposed the taxpayers and the consequent falling
of In the revenue, the most legitimate wants Of the
country obstruction, &c.) neglected. the calls upof
credit more frequent than and the capital OF the
| public debt more than doubled In fifteen years
the continuous augmentation Of the noating debt
| which 1t Is In vain attempted 70 keep under
1000 0oOf On the other hand, the financial cred
OF France and her political credit are fallen lower
than before ls(2, and her internal condition Is char
acterized by GENERAL Embarrassment which Is turn
ing to misery. Such Is what documents OF the mos
UNREASONABLE authority exhibit to us as the sonse
quence OF personal government during fifteen years
We need hardly say what conclusion must be drawn
Ii is obvious to every judicOus mind and IL may be
described in very few words that to continue as we
are Is impossible, and there remains for France nc
| choice between reform and bankruptcy.