The financial panic in Paris is declared to be abating,
but nothing can be accurately known till the end of next week. If, on the settlement which then takes place, the great broking corporations, for they are not mere brokers in the English sense, can pay their differences, the panic may be stayed, and -the shrinkage of values which is inevitable will go on quietly. The fall of the last fortnight has, however, been so great and so sudden, that the brokers, wealthy as they are, are shaking, and are asking assistance from Government. They want a loan of L1,000,000 sterling, upon the security of a double tax upon speculative transactions, which would pay it off in twenty years. It is believed the money will be advanced, but the break-up of the Government will impede everything. Even should this money be paid, the heavy losses on all securities, the failures in Vienna, Geneva, and all local centres of France, and the enormous prices to be paid for loans, will leave all speculators and a good many Banks very weak, and make the next catastrophe a very formidable one. It is, however, panic, not loss, which the financiers, aided in the most unscrupulous way by the Press, are endeavouring to stop.
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