11 MARCH 1871, Page 2

It has long been a puzzle to understand where the

Bordeaux Government obtained its supplies of money. It had only ten millions from England. It is now suggested, as far as we can judge from a telegraphic report of a debate in the Assembly, compiled by some clerk who does not understand debating, that the Government raised money by a silent issue of Rentes, a proceeding as unjust to the public creditor as a debasement of the currency is to all who receive money. The amount was probably not great, as the Bordeaux Government spent on the war only £41,000,000, received the taxes of two-thirds of France, and raised some by anticipation, but still Rentes were issued without notice to stockholders. That much is admitted, and the precedent is most dangerous to credit.