New-York tribune., 1868-06-04


iations with the Bey Of Tunis
A NEW PAMPHLET on FRENCH FINANCEs-THE
GREAT SPEECH OF THEIRS on PROTECTION
"A NEW BOOK on BYRON.
PARIS, May Is, 1868
A severe critique by j. E. Horn, of the man
apemcnt of finances under the Empire which drew
great attention from thoughtful taxpayers here has
received due notice from HE TRIBUNE. NJ. Auguste
Win has lust published Les Finances de PEmpIe IN
response to Horn. Hom has, think, the better
rcputationi for soidty, Vitu for ingenuity as an
economical writer. Both partisan pam
phletccrs. skilled in marshaling figures that can't
lie Door innOcents so as to mask their suppresslons
of truth. NJ. Vitu's pamphlet is somewhat larger
and more intricate than his opponents. can pre-
sent only part of it IN very compressed abndge-
incnt This much it deserves on the ground OF hear
ing both sides. and because, owing to the authors
relations with the Government and his reliability, 1t
probably gives the best answer that the Govern
mcut could give 10 Horns charges. .
Win undertakes 10 prove that the Empire IN lts
fist Il years, during which time IT Waged glorious
and necessary wars Ito Mexico and back was not
War-it was an eXpedltlon-and was glorious ana ne
rssaIy and successful up TO the last minute as
scmullical Nitu Stlttiy maintained IN ms paper up
Ia 1875. has not augmented expenses at greater rate
than did preceding regimes III time OF lnglOnOuS
&c. flat taxation is no heavier than formerly;
That individual and national prosperity have had an
unprecedented development since 1852 With tins he
pugcS after his enemy into that Daedalean tangle,
the Budget Of 1906 IhierS, one OF the swftest ana
most industrious of intellectual wOrklngmen, SAID
that ut took two months of his study To master the
budget of three years ago This of 1866 neither more
nor less labyTnthine than the rest. 10 was IRON
If that Horn drew out those formidable and filling
cphercd millions, so important II tue Nltu CLAIMS
that they are not. Owing 10 the system Ol DOCK
keeping observed at the Treasury, the apparent re-
GENTS and expenditures as figured III the Budget are
about onc-third greater than the real striking
instance of these swelling hGttlous hgures entered
for mere systematic forms sake, appears IN the case
OF the sinking fund reserves, which, as often as they
qe diverted land the playful Finance Minister allows
them such diversion four years ont OF yel from their
nominaly proper destination to the general wants OF
she Budget, are at first debtcd as paid over 10 the
Caisse of the Sinking Fund and then credited as re-
turned by the CdsSe to the Treasury while III TACT the
Cdissc has neither received nor dls6msed asou Now
owing to this system, of which MIR. Horn makes no
mention, the Budget Of 1856 shows under TINS head
alone sum of 127OCOOO and odd francs OF Iecclpts
aud expenditures, which is purely fictitious. Other
solid looking figures are explained away 10 sySte-
luatc phantOms. Again there are large items OF re-
ceipts that do not proceed ldirectly NJ NltuJ from
taxation. Thus the natural revenues from forests,
fisheries and the public domain, amount to GOVJWO
divers revenues and diverse products" according
90 our pampbeteers patiently ingenious and appar-
. emily lust estimate, furnish another amount OF
100000 not directly derived from taxation 10 re-
sumc the total of apparent receipts Is figured IN the
I;udpet at 2243,0O0,OOO francs; 1t IS really but
2W5OO0OOO: and, deducting the sums not obtained
by taxation, there remain but l,SSS,OOO'oO to be
The augmentation of expenditure under the En-
pire though much less than Horn represents IT, Is
admitted but the augmentation OF receipts has Deen
I'm az great prOpOTtiOn-the proof IS that the burden
of taxation on the individual direct or indirect, has
not increased. The actual sum pei eap,.a OF taAon m
Is grossly exaggerated by lOTn who estimates ~ -
pcr cent higher than IL really is-accordlng TO Nltu,
who makes it very clear IN his pamphlet that Horn
Left out Of hs pamphlet some OF the eIehehls essc-
Rot finally the mere number Of millions that flow
in and out OF the treasury is Of only relative import
no
private prosperity bears the runf Here NJ; Nltu
come. out as jolly as Mark Iapey. IN 1872 France
had steam machinery with an aggregate OF 2f645'
horsepower; i'll 1866 the aggregate mad risen TO 0!9
520 in 1852 she had 3S72 kometers OF railway, with
15j,COOCOO francs OF gdoSs receipts from IS'O13- ~
corresponding ciphers in 1896 are 14,i4o kilo-
meters G10OO0000 francs, o9,OOO,OOO passen-
5ows for te first period is 600 6OOietters S5 900
newspapers ETC.. for the second period, 542WqUO
letters 30j. 100000 newspapers, etc. Savings bank
depOsits from 2i7,0O0OO0 TO 5l5,0OO,GO; Bank OF
France discounts from J. 1S24OOO0O0 to G514OOO,0O0.
The production of wine and grains has IN
creased in somewhat similar proportions the
production and consumption OF coal much more than
. dOubled the value of iron manufacture, from
OOOO 900 in 1852 to 33 100000 III 1861, and foreign
commerce, import and export reckoned together
form aggregate value OF S,Ol4,OOOOOO III Ic3' 10
6,l&,0O00OO francs IN 1866.
Here Is a good place to make one observation that
NJ Vtu does not In his aggregation OF the yalue oil
imports and exports, he walks into Just such vOun
@taTy mistake as he taxes NJ. Horn with great
many millions worth of merchandise imported into
fhe country, and exported from the country I'M
touched by intermediate manufacture count double
when they have not claim, as representing national
productive capacity, to count once. 1t IS further to
be noted that luckily for his argument NJ Vltu was
not obliged to track the industrial monument OF the
country further than 1866.
most interesting discussion of that subject is
going all this week in the Corps Legslatlf 1hat
the manufacturing interests textile and mctallurglc
are i'm very bad way, certain. The lists speakers
give Of cotton wooden, and linen factories, OF Orges
and rolling mills, that are shut upOI the bankrupt
ces Of'maSteTs and distress OF WOrklnenafc fOilnl
dable by their number. The shipping interest Is
hardly IN fOurshing condition 1he debate
mainly turns the wisdom of the commercial treaty
with England, made in 1850 by the Emperor, and his
other free trade acts and tendencies The protection
lists charge that these the chief cause OF the ac
tual low estate Of manufacturing industry IN France
winch, under their continued actiOn, must
sink hOpelcssly lower. The defense is that
The causes other and accidental, such as
Short crops, cotton BpecuiatiOns extraordinary war
expenses and war fears affecting other countries with
She industrial crisis that tTansiently weighs on
\ Iance.s The American was faYOrlte cause
with the defense and the Minister OF Commerce still
explains the trouble in large part by the fact that
America has closed its markets by high tariff " in
order 10 Teestablish its finances" WheTeupOD pro-
teeonist orator aptly turns the argument and asks
U S8SS c9r aSs T The Hi Minister fS did no
that question.
The great speech, among many able ones, on the
prOtectiOnist side was made by that wonderful old
man, Thers His discourse filed. AS Won NAV see by
the MOntteuT nearly half as much time as Is wasted
by the more tacitun defenders OF President johnson
but then it full of facts, and figures and argu-
snent, and luminous throughout with lambent intel
tectual light, and flashing here and there with
brightest wit After delivering 10, he passed large
pa,t ld oi the night correcting proof at inc hoRueH
Shu next day was IN his seat Yiqlantly listening to
1Ouhers response The debate is still going Oh to-
uay Apart from It's subject proper, il is one OF ex
eepuOnal character and interest
ihe division Of opinion protection and free trade
~ III no way cOincidclt with the division marked by