New-York tribune., 1901-05-12
PARIS.
TT THAT CAUSES APPRE-
HENSI0N.
BUDGET
uNFAvoRABLE FINANCIAL STATEMENTS
DIVERT FRENCH CAPITAL TO FOREIGN
CHANNELs-A MAGNIFICENT
EMBASSY BAIL.
Copyright; 1901: BY The New-yorl1 TribuneD
IBY CABLE TO THE TRIBUNE.l
EMBASSY BAIL.

Copyright: 1901: BY The New-York TribuneD
IBT CABLE To THE TRrBUNE.I
Paris May 1.-THE Budget bill, setting forth
the estimates for the year 1902, which has just
been distributed TO the French Senators and
Deputies, causes grave apprehensions in con-
servative financial circles. The estimated eN-
penses for 1902 are S320Oo0oo0. this being an
increase in expenditure over the present year
exceeding Sl5,OO0000 This Budget is so figured
out as to balance within $4,000. To make good
the deficit, additional taxation is proposed by
the Minister OF Finance. including. among other
items, a tax OF 30 cents on refined petroleum.
But what causes profound uneasiness and mis-
trust is the statement issued yesterday by the
Ministry of Finance, of the receipts for the
four months just ended. From this it appears
that the receipts fell 100000 short of what
was estimated for these four months, and are
So 10000 below the actual receipts during the
four corresponding months of the year 1900.
This unexpected shrinkage in receipts not only
promises TO upset the Budget Of 1901. but also
threatens to knock the Budget estimates of 1907
into a cooked hat. because the 1902 Budget is
based on an assumed large and steady increase
Of revenue. while the actual experience Of the
last four months shows that exactly the reverse
is really taking place. and this TO a most alarm
ing degree
To make matters still worse, the bill for in
surance and indemnity for accidents TO work
men. which is soon to be submitted to the
Chamber by the parliamentary commission and
is warmly urged by NM. waldeck-Rousseau
and Miuerand. will. if passed. add TO the ex-
penses OF the coming year sum calculated by
experts at from Sl6000o0O TO S20.o00,oo0. One
or the most important measures which will be
laid before the Chamber of Deputies as soon
as Il assemblies is the Canal and River I'm
provements bill, which provides Sl22.ooO.ooo for
improvements and extensions OF inland naviga-
ton. 10 be completed in sixteen years.
This des perate Budget outlook and inevitable
increase Of taxation causes French capital TO
seek investment abroad, and this is one OF the
factors calculated upon for the. success Of the
new Russian loan OF S900o0.eoO. bearing per
cent interest, which on May % is to be put on
the Paris market by the Rothschilds. acting in
concert with the Banque de Paris. the Credit
Lyonnais and other financial establishments in
France. The loan is to be issued at as francs
share. and IS already being negotiated at
premium.
The FIRST official reception and ball given by
the German Ambassador aud Princess Radclin
the most brilliant social function Of the
season The superb palace Of the embassy, the
gardens Of which reach from the Rue de Lille
10 The Seine has been renovated and decorated
with the greatest splendor by the new .Ambas-
sador. who with the Princess Radolin, received
the guests in the throneroom, facing a large
fun length portrait Of Emperor William, painted
IN fun imperial robes Of state Not since the
memorable visit OF King William OF Prussia
and Count Bismarck during the exhibition OF
1867 has Germany attained such a social
cess in Paris that which marked the recep-
tion at the embassy Thursday night. One
hundred siX-foot footmen in yellow. blue and
gold livery with powdered hair. lined the grand
stairway, and gigantic suisse, bearing a
medieval halberd, guarded the entrance. The
ballroom was thronged not only with officials
or the French republic, but with scions OF the
OLD families Of the Faubourg st. German, as
well as all who are prominent in the more fash
fonable French and cosmopolitan circles of the
Champs Elysees, and by representatives OF
the haute finance. More than fifteen hundred
guests defled past the representatives of En-
peror William, who were surrounded by the full
star OF the embassy. in brilliant uniforms.
Descriptions OF this princely reception were
telegraphed in detail 10 Emperor William in
Aisace. and were OF such a nature as to have
made his heart beat with Joy. To-day the Paris
newspapers describe the fete in glowing colors
and also publish accounts OF the increased fra
ternity of the allied French and German SOL
diers at Picking Not for long time has such