30 DECEMBER 1865, Page 3

M. Fould has issued his financial report, which is a

sort of cross

between a budget, a treatise on finance, and a chapter of one of the minor prophets. We do not profess to comprehend tho- roughly what M. Fould means with his absurd prophecies of coming-budgets, but suppose him to say that he has hopes of an equilibrium in this year's receipts and expenditure, that next year, if everything goes right in Mexico, he will have a surplus, and that in 1867 he will have money to apply to the revival of the Sinking Fund. As these statements are all prospective, all depend more or less on Mexico, and are all independent of the extra- ordinary budgets, they throw no light whatever on the finances of France. If M Fould wishes to bring up French consols be must publish a decently clear table of all money received and all money spent up to date, balance the State books in fact as he balances his own. He does not play Habakkuk there.