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M. Goulard, the French Minister of Finance, introduced the Jong-promised

Loan Bill in the Assembly on Monday. it authorises the Government to raise £140,000,000 at 5 per cent., and to make any arrangements it pleases to facilitate the affair. The loan will be "public," the great bankers contributing like small speculators, and it will probably be offered at 83. It is believed that it will be covered at once, the Bank of France undertaking for its constituents £80,000,000; and that an immense propor- tion will be paid up in anticipation of the time fixed for the instalments. We have endeavoured to explain the probable success of this gigantic transaction elsewhere, but we may add here, that to prevent a currency crisis, the note circulation of the BAnk of France is to be raised from £80,000,000 to £120,000,000.

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