The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1878-11-19

the Judicial Commission in pre-
pairing the bill which it is proposed to sub
nit to Parliament for the abolition of pub-
| lie executions. 1t was arranged that a
meeting should take place on Monday
next, in order to ix the definite terms of
| the measure, which seems to increase in
public favor every day.
A manifesto is about to be issued by
the committee of the different fractions Of
the right addressed to conservatives. The
document dwells with peculiar emphasis
on the point that republican institutions
are not threatened or attacked by conser-
Yatives, who have no other end in view
than the defence of great social principles.
The European financial crisis forms the
subject of an interesting article by Nj.
Paul Leroy Beaulieu in the Journal deS
De6dtS of this morning, After the two
years of activity and prosperity@which fol-
lowed the fatal war of 1870 the economical
equilibrium of Europe, he says, was dis
turbed. A financial crisis broke out 10
Vienna 10 1878 and then almost simutan-
eously at Berlin and on all the other Ger
man markets. In 1875, the insurrection
in Bosnia and Herzegovina gave a start to
| those eastern complications the history
and progress of which are known too we'll.
Now to material and real evils must be
added an evil Of another nature-a feeling
OF general alarm and menace of fresh
complications. Never, says NJ. Beaulieu,
since 1915 has there been seen such a
fatal congIomeration of circumstances and
causes OF depression to business, One of
the effects of this situation is the financial
| embarrassment OF the greater part of the
European nations. Almost all of them
find themselves insuficientIy provided for
by the credits granted by their parliaments
and by the resources of their existing
taxes. There are two exceptions, one real,
and the other, in the opinion OF
Nj. Beau!ieu Imaginary, France is one, and
Italy the other. As for France, although
she, of course, feels the effects of the uni
versal distress, yet her financial situation
is perfectly satisfactory. Italy Nj. Beau
lieu thinks is Fictitious exception to the
general rule. He characterizes as impru-
dent Signor Caroli's fine promises about
the Budget yielding surplus of sixty
millions, and the application of this sum
to public works and the strengthening of
| the army. However that may be, all the
other countries of Europe, at least the
large ones, are hampered. Even Switzer-
land is in difficulties, and England herself
is beginning to feel her Budget little
meagre. NJ. Beaulieu scouts the idea of
any alarm being felt as to the financial
destiny of England, as that country has
resources 80 indefinite that she could face
| the greatest and the longest wars without
any apprehension Of succumbing heneath
the burden of their cost. NJ. Beaulieu
dwells upon the relative immunity from
taxes which her thirty-three millions of
inhabitants enjoy. 1t would be the easiest
thing in the world to augment the annual
English Budget of receipts by forty mil
lions Of pounds The means suggested by
the eminent economist are an increased in
come tax, revival of the sugar tax, rise
OF the duty on TEA, and the establishment
registration fees as they exist in France.
With such resources at their command, the
finances Of England are practically mex
haustible and unlimited. NJ, Beaulieu
does not feel any more alarm as to the
finances Of Germany aud Switzerland than
he does as to those of England Evi-
deEtly taking the French system OF taxa
tiou as almost the ideal of perfection, he
insists upon the necessity of increas
ing the indirect taxes and esta blishine
the tobacco monopoly every
where. By these means, he maintains, both
| Germany and Switzerland would have a
splendid surplus. Turning to Russia, NJ
Beaulieu proceeds to state his opinions az
to the way in which that Empire vii
meet the minimum annual Increase in hel
expenditure of seventy millions of roubles
occasioned BY the late war. He even in
creases the seventy millions Of roubes t.
400 millions OF francs in view of futur,
complications. To meet this he suggest
ed the tobacco monopoly. the income tax;
few taxes on railway traffic, and few re
gistraton fees. NJ. de Beaulieu does no
despair even of the finances of Austria anC
Hungary. Courage and prudence will soon
, he thinks, re-established the situation
} Nevertheless the actual financial system
of all Europe.with the exception of France
does not present a smiling prospect TO
commerce and industry, C. A. S.