The New York herald., 1869-01-29
The Annual Financial Statement.

tFTOm the LONDON morning POSI-, Jan. IL.
last year NJ. Magne says contracted In order to
clear OF portion OF the floating debt which, in fact,
left against the country This floating debt amounted
In 1866 to 727 900 000 and 1867 brought with It
manY carees that sl sSe nanS 30
debt IT'S, 900 000f heavier than 1t found It, It was
felt that the French ornaments, great as they were,
which then seemed not at all improbable, OF Euro
pean conflict; and. In addition to this commerce
acc acceleration in the execution Of WORKS Of general
utility which were indispensable.r To meet these
demands It was decided to issue Q loan OF
August last, when the subscriptions, as viii be
remembered, poured in with such unexampled
aps ns e IN w ne 1sys ss s S
hand: N. Magne proceeded to clear on the
l75,o0o.ooOf which 1857 had added to the floating
10000 o0of. to the naval armaments and
$4,000. oo0f. to public works Thus he has been
enabled not only to balance the budget Of 1851, but
enter with confidence upon 1882 In the first OF these
three years the ordinary and extraordinary expendi-
only to 1880 sso OOof leaving the deficit we have al
ready mentioned. But In 1853 the national increase
In the indirect taxation Of the countryathough. as
July and August-so increased during the succeed
ing months that the END Of the year there has ap
peared gain, as compared with the preceding
Twelve months, OF much as "a O0o 0Oof upon to-
tai Of ESQ 600 000E and even these figures may, M
reSes &c = sa
there Is Professionally taken from the loan sum OF
1000 ooo It becomes certain that not only will that
sum be repaid, but that the budget Of 1903 win be
found capable OF balancing Itself.
The most interesting portion OF financial state
and NJ Marne's account Of the budgets Of 1850 and
1870 will be the attractive point for al those who are
interested In French finances For 1860 we are re
tion OF the Garde Mobile the increase OF oficers,
pay and the scheme OF chelfns vfcfndsfI all require
money. % and yet the Ordinary and extraordnary ex-
in 1857. They stated at 1.722 06a 732f ana
as the receipts are calculated TO amount TO
dencit to be contemplated and the consequence Is.
as we supsoee n. Magne hopes, that there win for
this year be no budget reccatU; or, in other words
no extra demands upon the purses OF the tax
PAYERS There win be, 1t h true, supple
mentary expenses to meet, chieny in conse-
here again the increase OF the indirect taxes
VIII come In and more than counterbaance the sup
Elementary credits taken by the various Ministers.
Thus the prospect for 1870 seems to be still more
smiling. There are, indeed additions to be made TO
the expense side Of the account for that year nciud
vices and the further augmentation OF psy TO mill
tary and naval ofcers. These increases altogether
amount TO 80 4es 1897 But then IL II calculated that
much rs, 719 058f. that there will be q gain
even on what NJ. Magne calls the progression OF
count L Is Calculated that $50 VIII snSsct ss We We
are reminded TO Unforeseen notifications, +" show q
surplus OF no less man 50 607 145f This, however In
not purely gained, for there r. the extraordinary
budget" for the same year TO be considered. 1t il
precisely upon the surplus fthe ordinary budget that
the extraordinary lives. and In this Instance It Is
calculated that II Will have enough and to spare. In
short the immediate future looks pleasing enough
and II seems almost an excess Of modesty In N.
Magne 70 speak of u as ne does "Such H." he says
.'the situation. We must not exa0gerate Its advan-
tages But II 1t has not arrived at the degree OF pros
perity which we could desire. aun which we try to
attain, ~ Just TO recognize that it the path OF
progrcssp lie remarks that 1858 was characterized
BY .aternatons OF confidence and apprehension, OF
activity and stagnation," but that public opinion
has, on she whole, shown Itself nrncr and more
healthy than has hitherto been It's won't Finally he
says that this Improvement in financial matters
(which is due TO confidence shows how necessary
peace Is % the country and how fruitful France NAV
become with ip'-a manifest conclusion from M
Magne's statement which we hope NAV he laid 70
heart not only IN France, but throughout Europe.