The French Chamber would seem to have woke up at
last to the condition of the national finances. The Finance Minister pro- posed to extinguish another portion of the Floating Debt by raising another loan, and to fill up the year's deficit by increasing the Spirit-duties, after which he would extinguish Extraordinary Budgets altogether. The Finance Committee refused the loan, acceded to the duties, and proposed to continue the Extra- ordinary Budgets. The dispute was referred to the Chamber, and on Thursday, after a most effective speech from M. Douville- Maillefen denouncing extravagance, the Reactionaries and Repub- licans joined hands, threw over both plans, and, by a majority of 342 to 154, ordered the Committee of Finance to find the necessary resources through retrenchments. The Committee say they can- not do it, and will, it is believed, lay bands on the Sinking Fund ; but if the Chamber is serious, it may insist on obedience. The redeeming points of French finance are the extreme accuracy of the accounts (though they are always too late), and the decisive- ness with which the Government or the Chamber does some- times retrench. In the present instance, it is quite possible that the Extraordinary Budgets of War and Marine may be refused, and that Public Works may be resolutely cut down.
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