The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-05-03

the ChamDer OF Deputies has been engaged IN dls-
cussng the question OF the forced currency OF the
notes Of the National Bank. Everybody feels this to
be grevous burden both in and out Of Parliament;
but there Is not equal unanimity upon the proper
means Of getting rid Of II. Count Cambray Digny,
Minister OF Finance informed the House that In order
to effect the abolition OF the forced currency he
would require sum Of SOL 900 francs, In gold,
at least The treasury was in no condition
to meet such demand, and the Minister
therefore proposed not to deal with this
question until after the adoption Of the various
financial measures he had laid before the House.
These, consisting Of various economies and admins
trave reforms, together with the imposition Of the
grinding tax on cereals would reduce the present
alarming deficit to insignificant proportions and
raise the credit Of the country at home and abroad
Then the abolition Of the forced currency might be
effected upon much less onerous terms than at pre-
sent. The Minister clinched his argument by some
very plain statements which considerably startled
the House. little accustomed to such candor from
previous finance ministers. Count Cambray Digny
insisted upon the paramount necessity for the adop
ton Of the measures he proposed more particularly
the ''grinding tax.n II these measures were not
adopted within the FIRST half Of the present year
financial catastrophe would be inevitable. Italy, he
said, must have recognized her finance and made
provision for the future before July next or national
bankruptcy must ensue. Those, therefore, who
caused delay would be responsible for the conse-
quences.
This was very grave declaration from respon-
slble Minister, and produced great effect In the
House, more especially upon the third party, the
independent group OF members who nuctuate be-
tween the right and the left without v0wing allie.
glance to either and who do not always even follow
the lead Of their Chief Sgnor Depretis. This party
was alarmed at the idea Of being made the scape-
goat for the consequences that might result from
unconditional opposition to the Minister, and thus,
to the disgust Of the left and the glad surprise Of the
right they voted with the latter upon both the I'M
pOrtant divisions that have taken place this week.
Early in the debate Signor Rossi, member Of the
government to present, as an Indispensable compile
ment to It's financial measures q bill for removing
the forced currency. Meanwhile q committee OF
question, and report by the 18th Of April upon the
best means Of erecting the abolition. THIS order
MADE S the das stubborn s a asn eS the
Of Finance to abolish the forced currency
within some stated period. In this view
ROsss order Of the day by Signor Depretis, chief OF
the third party or trimmers, as they are now most
often called. The amendment provided that the
committee Of seven members instead Of simply re-
porting on the question, should embOdy their pro-
posals in formal bill The left doubtless expected
that the third party would vote with their chief, but
alas when the division came, the third party passed
over bag and baggage to the right, who thus gained
important victory. In fact the Ministry regarded
the matter as o Cabinet question and were prepared
to stand or fall by the finance measures OF Count
Digny. The proposal Of the amendment that the
committee should draw up bill for the abolition Of
the forced currency was clearly In with
the first paragraph OF ROssis order Of the day en-
ter Of the Interior declared also that the faculty Of
presenting bills rested with th9kovernment or with
Individual members, and could not constitutionally
be exercised by committee. The result Of the VOTE
2l1 to 49, approving Rosss order Of the day in Its
integrity was q significant demonstration OF the
weakness Of the left, which on this occasion made
strenuous efforts to turn the fortune Of the day.
A very scandaous scene took place the day pre-
yious to the vote: discussion ..; arose rela.
and the Derrets amendment TO the vote. The
left were dissatisfied with the President, and re-
cIamor President Lanza's energetic character, and
the respect and authority ne enjoys with the House,
were on this occasion OF no avail to restore order
In vain was the ringing Of the bell In vain the Pres
dents indignant apOstrophes against his unruly col
leagues. Both were met by an angry roar OF de-
fance while many bitter things passed between the
two sides Of the House. Finding it impossible TO
quell the rioters the President at length put on his
hat and the sitting closed abruptly. Pentence fol-
lowed the next day-twO members OF the left, de.
puted by their colleagues expressed regret for what
had occurred, although declining to accept the whole
The adoption Of Ross's motion leaves the Minister
Of Finance at liberty with regard to the
period tS % MS on esa a e Seo a
not discourage the left, who made o fresh vigorous
EFFORT to upset the Minister'S plans In most import
ant point. The opening or the debate upon the
grinding tax on cereals had been fixed for Monday
next Last Wednesday, however, several speakers
of the left urged that this tax should not be discussed
until all the other financial measures had been vo-
ted; and on Thursday Signor Crisp, chief OF the
party, proposed an order OF the day to that effect
Count Cambray Dlgny at once declared 1t to be i'm
possible to accept such proposal, and renewed the
declaration he had already made respecting the abso-
so that il approved it might come into operation on
the LIST OF January, 1862 The question was decided
yesterday afternoon, when the House rejected Sgnor
Crispi's motion by 2l3 against 103 votes On this
the previous OCCASION the whole third party voted
with the majority. Two decisive defeats within a
week will have discouragng effect on the left and
may again produce that absenteeism which short
time back was imagined to be the forerunner Of total
abstentiOn.
The late debates have however, sufficiently shown
that the left contemplated such suicidal policy
They must accept the position Of minority with the
best grace they While rejecting Crispis motion
the Chamber approved two others, proposed by Min.
ghetti and BargOni The first binds the Minister to
present within month proposals for enectng econo-
mics and administrative reforms to the extent OF pro-
ducing gain TO the Treasury OF one hundred million
ires. signor Bargons motion Is to the effect that
after having discussed the grinding tax the Chamber
shall withhold its defntive approval Of that impost
until the other ministerial financial measures have
All other business having been exhausted, the de-
bate on the grinding tax" commenced. This
tax is so serious and unpopular q measure that
to propose It. The left 1t is to be hoped, will not
allow party passion 70 carry them away 30 lar as To
excite popular feeling on the subject.
Count Cambray Digny has given a very satisfactory
OF his Intentions respecting the taxation
Of the coupon Of the rente In mis- bill for the modin
cation Of the income tax, Just presented, the Minis
ter imposes the tax upon Italian holders OF coupons
and foreign holders having permanent residence in
Italy. But foreign holders residing abroad are dis.
tinctly exempted by clause In the bill. This will
20 far to remove the depression Of Italian stock
caused by the late persistent rumors OF the tnds-
crimnate deduction OF income tax from the interest
of the Italian public debt. The Finance Minister has
now fulfilled all the promises Of his budget far
eha tai. If law IL