The New York herald., 1872-08-01
The New French Loan.

The new French loan has been a success
almost beyond anything on record. In his
speech to the French Assembly on Tuesday
M. Goulard, when announcing the success of
the loan, id:-sThe government is over
whelmed with surprise at the astounding re-
sult-a result which shows that the defeats
France has suffered are to be regarded as an
expiation, not as sign of decadence." No
one can blame M. Goulard for the enthusiasm
which he has revealed. France has often
done we'll before but France never did better
than now. All ranks and classes of the people
have come to the rescue in this case. They
have given their money on this occasion just
as literally as on former occasions they gave
their best blood. A nation which can act so
nobly is not doomed to an early death. It is i'm
possible, however, to close our eyes to the fact
that this fresh loan increases nightly the bur-
den which has long been pressing upon the
energies Of France. A protracted peace will
give her strength enough to throw it
off A successful war might give her
immediate freedom but an unsuccessful war
would most certainly prove her ruin. It is
reasonable, we think, to conclude that France
is bound over, for many years to come, to keep
the peace.
It is well for us to bear in mind that this
loan will speedily make its influence felt in our
own money market. The money to be paid to
Germany must be paid in gold. IT, as is ex-
pected, France does make an effort to have the
entire indemnity paid to Germany within the
next twelve months, the drain upon gold in
all the foreign markets will be enormous. In
connection with this matter, it ought not to be
forgotten that the necessities Of the new coinage
in Germany will lock up large amount Of
gold and render it useless for some time to
come for commercial purposes. These things
taken into account dearth of gold must not
be pronounced impossible. Nay, rather, it
ought to be regarded as certain. Forewarned
forearmed! Let it be so with us.
RAIN OR SHINE this will be lively day in
North Carolina but, as a good rainy day
almost inevitably secures peaceable election,
we are inclined to think that regular old
fashioned rainy day would be this day good
thing for North Carolina.
The JAPANESE EMBASSY. .-Iwal1ura, the Jap
anese Junior Prime Minister, Ambassador
Extraordinary with his associates some Of
the most intelligent and liberal statesmen Of
the empire, are taking notes Of the greatness
Of the American metropolis. Their tour, which
will embrace the chief States Of Europe, is one
Of the fruits of the disposition to connect their
ancient civilization with the modern progress
of their Western neighbors and to constitute
themselves one of the living national Powers
of the time. Philadelphia has entertained the
Embassy in form. Mayor Hall has wisely for
borne to initiate any such municipal banquet
in their honor as that which some years ago
disgusted tho taxpayers and fuddled the poll
ticians The courtesies which have greeted
the Embassy here have not been Of the formal
sort involving ostentatious display, but have
been civil and sincere, rendered by or fore
most citizens and expressing to our trans
Pacific neighbors how sensible we are Of the
great advantages to accrue from the cultivation
of intimate friendly relations between the two
peoples. Scant time has been allowed the
Orientals 10 become acquainted with the re-
sources of our CITY, but enough, we doubt not,
to create pleasant impression, and when they
leave us this evening for Boston we believe it
will be with the desire TO return and make New
York longer visit.
ALL Is DOUBT in regard to North Carolina
to-day, though the Grant men profess to be
tl,o