M. L6on Say is anxiously calling the attention of his
country- men to their finance. In the Journal des Beonornistes, he points out that the passion for Public Works, especially for State Rail- ways, has increased, till the burden may crush the Treasury, the -expenses continually increasing, while the receipts do not. The net yield of the lines has fallen off 20 per cent. in four years, while the Department incessantly expands its projects. He demands the sale of the railways, and the " liquidation " of the Public Works Budget with the money. He adds that the general revenue is declining, partly from bad harvests, and makes a most serious charge against the Ministry of Finance. It is, he says, controlled by a political tinder. Secretary, who suppresses fiscal prosecutions, in order to secure the smugglers' votes. In proof of this, he shows that the number of prosecutions has declined from 46,840 in 1876, to 18,580 in 1881. "in fact, there is no longer any repression, and fraud has become the rule," the intermediaries being Deputies anxious for their seats. M. Lon Say may be prejudiced against State railways, though he is a clear.headed financier, but it will be impossible to evade inquiry into his -charges against the Department, more especially as they will furnish new arguments for the Scrntin de Liste. The Chamber will be compelled, sooner or later, either to accept that scheme or to pass some kind of self-denying ordinance.
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