The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-09-07


Repuolique ~ That journal, in the course Of IT,
said:-Ah you oppose the Projects you dare TO
the government, by selecting candidates, should
spare you the trouble Of selecting Well,
an IN % S1 ca aKeo for
ever ~ you VIII end, az in ls4s by that OF "Viue
the Slscle now replies in these terms to the
above:-Our contemporaries 30 without thinking
that intelligent conservatives might easily send back
the lesson to ITSELF They might say it was not the
reform accomplished but the one refused which led
to the revolution; 1t was not NM Odlon Barrot and
Davergier de Hauranne nor NM de Lamartine and
and his majority by their insensate resistance to the
wishes OF the country in favor OF REFORM" How
ever, this quarrel between conservatives has only
very indirect interest for the democratic party me
success OF the latter Is not due to them, be tley
more less liberal; nor does it found its hopes on
the aid OF the old royalist parties.
The New LOan-SecOnd Report Of the Minister
Of Finance.
The Minister OF Finance has addressed to the En-
perOr the subjoined report (hs second) giving tne
final results OF the late subscription for the STATE
PARIS, August %, 1865.
financial agents in France ana Algeria complete de-
tails relative to the loan Of APO millions. hasten 10
lay before your. Majesty and to communicate to tle
public the final results OF the operation and the bases
on which the rente issued will be divided among the
subscribers The provisional indications contained
in my first report have been confirmed, and even
exceeded on some points, In a remarkable manner.
The number OF subscribers is sa2 725. The sum
applied for is 66 4l0f OF rente representing cap
ital exceeding fifteen thousand millions, and repre-
senting, as / before said, thrty-fonr times the
amount required The departments furnished
usual the largest subscriptions have been in the cap
ital whilst for the small amounts the reverse has
been the case.
The subscriptions OF five francs amount to
$780, lOOf. of rente. or that sum, in the depart
ments 1904 persons took 1902, 02Of Of rente, or
more than threefourths Of the irreducibe subscrp-
lions. The total sum deposited In specie in the
Treasury as a guarantee, in Paris and the depart
ments, Is 665 200, 725I Such are the facts. must
now submit to the approval Of your Majesty the
principles OF the distribution. The loan authorized
by the LIST August, 1865, comprised:-
Principal 42g goo 0oo
Supplement 2, 500, 600
Total. 46o, 500, 900
According to the rate OF emission (69f 25c.), the
rente to be created to produce to the Treasury that
sum Of $50, 500 000f., amounts to 196l6,245f From
which must be deducted:-
Francs.
LIST. The irreducble subscriptions OF ST. . $500 100
20. The subscriptions Of 3oOf. and less,
brought down to 81 by the effect OF the
feuucuOn ......................... osp,ooo
Total. s95e, 900
There remains TO divide Ii, ,2s5f. among The
s2Of Strictly speaking the share OF each would be
r. &c. for each 1901 OF rente demanded. But the
liquidation has to be made BY muiples OF five francs
at Certain subscriptions will receive, according to
the terms OF the ministerial decree Of I'd August
little more than their normal share, and Others
little less. Those differences will produce q dispos-
able balance of small amount, which, by spirit Of
equity, and in conformity with the rules observed in
preceding loans, will be attributed far possible
TO the subscriptions the least favored by the tariff OF
reduction.
cannot terminate without making a remark on
the privilege OF discOunting the payment of install
ments. The produce Of the loan has been devoted
by the law of the LIST Of August to the liquidation of
the financial year 1867, and chiefly to the extraOr-
binary expenditure for public works ana ornaments,
spread over the budgets OF 1868 and 1869 with
should not be diverted from its purpose. As
the Treasury can only employ the money by degrees
the expenditure has to be effected II was neces-
sary in order not to burden the loan with the pay
ments to correspond with the requirements foreseen.
The measures adopted to attain that result have
succeeded.
The total portion of rente which may be discounted
amounts to 4,6l9,7s5f; have the honor TO propose
to your Majesty TO raise that sum to 4SS0 $751; by
adding to it 260, S30f which have not the right Of
payment by anticipation according to the amount
Of the subscriptions This division, applied to so
small a sum, will present Inconvenience, and
have the advantage Of treating all the divisions Of
less than l00f In the and of facilitating
the labor of distribution.
In fine, Sire, the characteristic traits OF this appeal
to credit are:-The rate Of emission, the number of
subscribers, the capital applied for. and above all,
the sum deposited in eight days q guarantee.
of the financial strength Of the country. Undoubt-
edly II does not prove that our resources are mex
haustibc; but II shows their immense extent, and
every good citizen must look on II with satisfaction
a. the most eflcaciOus means of preserving and
fructifying peace.
| am, with the mos; profound respect Sire, your
Maesty's most humble, Obedent and faithful servant
and subject, y. MAGNE.
To mis- report is appended the signature Of the
Emperor, approving Of the suggestions made.