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Lynchburg Daily Virginian
Lynchburg, Virginia
What is this article about?
The French Minister of Finance reports improved imperial finances: deficits reduced from 86 million to 60 million francs over two years, revenues at 96 million francs exceeding expenses of 84 million, yielding a 12 million franc surplus. Floating debt cut to 700 million francs, treasury bills to 135 million at lower interest.
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The French Minister of Finance makes a better exhibit of the finances of the Empire. The deficit of former years, amounting to $86,000,000 francs have been redeemed in the last two years to $60,000,000 francs or about the amount of arrearages existing previous to the establishment of the second empire. The ordinary revenues have yielded $96,000,000 francs. The expenses, $4,000,000 for the war in China and public works, have amounted to $3,000,000 francs.
There is consequently an excess of receipts, which will not be less than $12,000,000 francs. The floating debt, which threatened to exceed a thousand million francs, has been reduced to $700,000,000 francs. The Treasury bills, which in 1858 amounted to $345,000,000 f., now reach only $135,000,000 f., and the interest is lowered from four to two and a half per cent.
The Treasury, notwithstanding the large reimbursement it has already effected in the floating debt, is able to provide for all current ordinary and extraordinary wants.
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Foreign News Details
Primary Location
France
Key Persons
Outcome
deficit reduced to 60,000,000 francs; excess receipts of 12,000,000 francs; floating debt reduced to 700,000,000 francs; treasury bills to 135,000,000 francs at 2.5% interest.
Event Details
The French Minister of Finance reports that deficits from former years amounting to 86,000,000 francs have been redeemed over the last two years to 60,000,000 francs. Ordinary revenues yielded 96,000,000 francs, while expenses for the war in China and public works amounted to 84,000,000 francs, resulting in an excess of at least 12,000,000 francs. The floating debt has been reduced from over a thousand million to 700,000,000 francs. Treasury bills, which were 345,000,000 francs in 1858, now total 135,000,000 francs with interest lowered from four to two and a half percent. The Treasury can meet all current needs.