The financial world of Paris is greatly exercised by a
new scandal. M. Leveque, sub-governor of the Credit Foncier, a bank so closely connected with the State as to be almost a sub-department, has resigned, and stated on Thursday in the Chamber why he did so. He thought M. Christophle, governor of the Credit Fonder, was making advances to individuals in breach of rule, and was in particular spending large sums on the conciliation of the Press. He therefore demanded an inquiry. M. Christophle, in reply, denied the irregular loans, but declared that "it was the duty of the Credit Fonder, which was constantly borrowing, to keep the public favourably disposed towards it,"—a remark which naturally produced an uproar. M. Christophle further asserted that he would welcome inquiry by the Government, but would not consent to any proceeding likely to alarm millions of shareholders all over the country. M. Bouvier refused a Parliamentary inquiry, but promised an inquiry through Government agents, and the Chamber accepted his promise without a division. Credit Foncier shares, however, declined to 1,262 fr., a fall of 80 fr. since M. Leveque's resignation.
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