M. Magne, French Minister of Finance, reports to the Emperor
that the subscriptions to the loan of 18,000,000/. amounted to 600 , 000I 000/., or 31 times as much. No less than 781,292 p-rsons sent in applications, and the cash deposit amounted to , 26,000,000/., being an average of 33/. for each applicant. M. Magna draws from these facts the conclusiotr that the confidence of the public in the credit of the State does not find its true and definitive expression in the price of the Funds, a remark intended to soothe a well-known sore in his Majesty's mind that he cannot get Rente up to its level under Louis Philippe, far less up to its English level. Great efforts are made to reduce the importance of M. Magne's figures, but after all reductions the fact remains that France has much money very widely diffused. Are there 800,000 persons in England who could either be taught how to apply for a loan or find a deposit of 33/. apiece?
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