The financial convention with Russia has excited much attention in
Paris. The National of Thursday professes to give in detail the motives which led to the af- fair. It says that the despatch in which Count Nesselrode communicates the offer to purchase the 50,000,000 Stock at the average price of the day, expresses, in a "mild and generous tone," a sympathy for the difficulties of France in sup- plying herself with grain from Odessa; and makes the offer with a view " to encourage the commercial relations of the two countries." The National is alarmed at the power which the arrangement gives to the Russian Emperor over the public funds of France: "to announce officially," exclaims the Opposition writer, "that the Emperor Nicholas can, on any day he pleases, crush down our credit with the weight of fifty millions !" The Times sums up the view which " one class of commentators" entertain as to the effects of the measure. "It will act favourably in the London Stock-Exchange, for it will insure the early repayment of the million sterling due by the Bank of France to that of Eng- land. It will ease this market; for it will prevent the sale here of the fifty millions of Five per Cents it refers to, and of which the Bank had need. It will be also a sop for the holders of Five per Cent Stock—the especial favourites of the King and the Government—against the conversion of it."
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