M. Thiers on Saturday opened the attack on the Budget
by a speech in which he proved that the expenditure of France had risen under the Empire from 60,000,000/. a year to 90,000,000/., and the income only from 60,000,000/. to 74,000,000/. The end of that, he said, was bankruptcy. The official reporter, Mr. O'Quin, called upon him to withdraw this exaggerated phrase, but he re- affirmed it in the most emphatic terms. His speech, as we have shown elsewhere, was really exaggerated, but it was heard by a crowded Chamber with the deepest attention, and at its conclusion General Chaugarnier, who has no seat in the Corps Legislatif, walked up to the orator and shook him warmly by the hand. The General's warm approval seems to be due to the fact that M. Thiers called for any reductions except the most necessary of all—in military expenditure. Extravagance on armaments he cordially approved.
