The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-07-04

Theirs Address Before the National Assembly
Appearance Of the Chambers-The New
Loan-The Present Budget-The
Ability of the Nation to
Redeem Herself.

here by NJ Theirs statement In the National Assem-
bly, on the subject Of the loan and OF French nnRn
cal matters Even on last Thursday week, when
the chief Of the executive power made his celebrated
speech respecting the Orleans princes, tile attend
ance OF deputies was not greater, nor was the Au-
dience IN the chamber more numerous, than 1t was
yesterday when 1t became known that M. Thiets
would--ln the absence OF M. Pouyer-Quertier, ths
Minister of Finance, who has been very III indeed
with liberated sore throat aud although present
was mufled up and unable to speaE-state to the
Assembly the Budget for the year 1912, and also
explain the terms and conditions upon which the
loan Of two miliards Of francs, or f500o00G0 ster
ling, would De placed before the country In the
body OF the chamber there were q very great mum.
Der Of deputies, while every box in the house
was filed to overnowlng. French ladies',
as usual hocklng In shoals to hear what they could
not possibly understand, and monopollzlng some Of
the best places in the whole house. Tickets for
every part OF the building to have been given
away and to have changed hands without the least
regard to what may be termed "the fitness Of
things" Thus, In the journalists b0x-a place to
which none save gentlemen connected with either
the French or the foreign press are supposed to gain
admittance-there were among other nOn-literary
characters two footmen. very dirty Mobile o
gendarme in undress and well known Paris boot
maker These, no doubt, highly respectable citizens
had evidently borrowed for the day the Ambulance
tickets Of some newspaper friends, who. If not at
tending the sitting themselves ought certainly no:
to have transferred their permission to enter the
box to others. That however, is as the French say,
merely detail. We were certainly terribly crowded
in the box set aside for pressmen; but 1t was some
consolation to see that In every part Of the house
the people were as closely packed as we were.
Among the audience were several well known Lon.
don and PARIS capitalists, who had evidently come
TO hear with their own ears
H. THEIRS STATEMENT.
For a wonder the Assembly got to business pretty
tised for two p NJ, and not more than half an hour
had elapsed before the Presidents bell had obtained
silence among the five hundred and odd tongues. all
OF which seemed to be speaking one and the same
ume and talking away for dear life, as they had all
inst escaped from pen1tentiary where the silent
system was enforced After the usual preliminary
business was got over, and NJ Lesplnasse, one OF
the deputies Tor Turn.etGarOnne had in a long
speech very little TO the purpose recommended
some impossible reforms in the salaries OF Onlcals
NJ. Theirs mounted the tribune. and for an hour and
twenty minutes Kept the attention OF every person
present liked IN breathleSs attention. He first spoke
THE BUDGET,
improving the occasion by pointing out how In the
days OF the empire the national balance sheet used
TO always so "cOOkedn that very serious deficit
would be made to look Ike an actual surplus When
say-as every one who was present sald-that
never was q clearer statement OF any cOuntry's
finances made, only mention one OF the many eX-
celient points IN NJ. TnerS' speech. The peculiar
feature OF what he said was the manner IN which
impressed the facts of ms budget upon his hearers.
There was no attempt at mixing accounts together
and thus make 1t appear that the debit was the
credit, and re,sd. What the speaker arrived az
was making those least versed In business mat.
tiers VINO heaid HIM, or VINO will read his speech To-
morrow IN the Journal Ogcte, un derstand clearly
what France owes; what she can depend upon with
which to meet her liabilities, and what her Han-
clal prospects for the future. He did not mince
matters when be spoke OF
TIE wICHED MADNESS THAT CONTINUED THE WAR
even after the deieat OF the army on the Lore and
would have continued IL so long as France mad
Sntln lnftl I'M mar Zan q
the few admirers OF NJ. Gambetta III the Assembly
could hardly nave been pleased at hearing NJ Theirs
Remuneration Oh the gueiTe Ourance doctrne,
winch for some months the gospel OF the repuD-
lcan party France step step lie led his hearers
through the financial history OF the country since
the days when the imperial government professed
to provide what was merely peace budget, until
when loans had TO be raised the expenses OF the war
had To met, and the slages OF the struggle
with Germany ended not only with losses To France,
but made her financial position more and more
desperate. had the war been brought TO an end with
Woerth matters would nave been bad enough. but IN
hmtely better than they are now. From Woertn to
Sedan entaled fresh losses, aud lett heavier balance
for France to pay. Alter Sedan there seemed really
no means OF calculating the rapidly with which
money ssquandered All Inis added to all the recK.
lessness OF the EMPIRE had to be provided for; and
the time had now come when Fraace must seriously
not only pay Tor the past but also make arrange
ments to pay OF IN the future her immense debt.
STILL notwithstanding this heavy load upon The coun
try he believed France had In herself such resources
FEW YEARS OF ECoNoMY
ana good financial management would see her per-
fecuy prosperous and Infinitely better or In reality
than she had ever been under the late dynasty. AS
1t is were 1t not for the indcinntes she has to pay
Germany, and the Immense expenses for the reck.
less war, the county would stand as well, II not
better than any nation III Europe IN financial sense.
Even as 1t was, even in the departments occupied by
the Germans the taxes paid with q regularity
which, under the circumstances, was nothing short
THE LOAN NOW IN QUESTION
OF two miiliards (ESO, 0O0 00Gl had been made two
years would eapse before the government need 60
Into The market again as borrower, and that time
WOULD be required To pay OIL good portion or the
debt, which could then be renewed for the next in
stalment 10 the Germans upon more favorable
Terms. Everything depended upon france herself:
II she only Kept clear OF internal revolutions and
external Tor the next three years, good as her
credit was now even IN this ncr dag OF trial, 1t
would be infinitely better .hen.
TIE PRESENT BUDGET
provided for an annual payment OF 2o0,OO0,00o OF
francs towards a SINKING fund, which was an Item
never seriously thought Of during the empire The
loan would be Tor TWO mlillards OF francs issued at
81 ard hearing Ave per cent interest," which made 1t
virtually loan of Six per cent and on these cond.
tons ne believed tile sum required would be more
than covered. lie expressed himself against
making petty deductions in the salaries or officials,
a Saving when would be comparatively small for
misery upon hard working men, who would have TO
bear, like Others, their share Of
INCREASED TAXES.
fhc latter ne estimated at 100000 OF francs
GIG 10000 stcrlingl, old and new being taken
together, and this believed was not excessive In
u country OF which the annual produce amounted 10
between sixteen ana seventeen mards of francs.
Against proposition put forward by NJ. German.
Deputy Tor Aisne, that an lncOme tax should lie
introduced in France, N. Theirs expressed himself
very strongly, saying that II would never answer in
France, and would merely become source OF dis
order ana even OF revolution. somewhat stormy
discussion ensued, but the Assembly was, with the
exception OF few deputies on the Len, evidently
with NJ. THEIRS, and would not even have the aues-
ton or income tax raised. me sitting was then
Adjourned 1t being seven p. NJ, to allow Tor dinner,
and was resumed at nine l.. NJ, when NJ. Godin.
another OF inc Deputies for Aisne, proposed an
amendment on the scheme 10y which the loan was to
be put forth. The discussion, in when NJ Haentjens
Deputy for La Sarthe, ana NJ. Perrier, Deputy for
Marine, took part, lasted about Oh hour ana the
sitting ended by the votes being taken first. for N.
Godns amendment Din favor Of which there was but
one name besides that or the prOp0ser recOrdedL
and secondly Tor the oil which sanctions the loan
For this the whole body OF Deputies present. SOL In
number. voted; Tor when the were emptied
there was not q single "No' recorded against the
measure. Thus ended one o; the most interesting
sittlngs yet witnessed I'm the Assembly, and one
which must be OF the greatest importance TO France.