25 DECEMBER 1875, Page 2

So prosperous is France, that M. Leon Say, the Minister

of Finance, believes the revenue this year will exceed £100,000,000 sterling, and be nearly £4,000,000 in excess of the estimates. Unfortunately the expenditure has risen in a similar manner, the military outlay having increased by £2,560,000, and the Treasury, but for a balance in hand of £1,200,000, would have a deficit to meet. The Departments are still under the present system too strong for the Treasury, and but for the exceptional harvests France would be in difficulty. The figures, however, conclusively prove not only the wealth of France, but her patience under an increase of taxation, which we must not forget is necessary chiefly to protect her credit.