rassing to those charged with the conduct of public affairs. And, at an early period, it should seem, that the alternative of a majority on which no continuous dependence could be placed, or of a triumphant opposition was rapidly developing itself.

At this period of the year, an event occurred in Paris, which, if only for its rarity, is entitled to be commemorated. A public dinner was given to M. Laffitte, in celebration of his election for the sixth arrondissement, in the room of M. Arago, who having been also returned by another department, made his election for the latter, and earnestly besought his metropolitan constituency to replace him by M. Laffitte, "the possessor of the most enviable reputation in Europe." About 980 persons attended this banquet, the chair being filled by Dr. Dumeril, one of the professors of the School of Medicine. From the accounts given of it, this would seem to have been a more than usually successful imitation of our English political conviviality. The toasts were drunk with enthusiasm, amid the strains of martial music, the wine flowed freely, and it was only when a voice demanded the Marseillaise hymn from the band, that the assemblage was reminded of the restraints which the morrow was to replace upon their passions and their tongues. To the call for the Marseillaise, the master of

the band replied, that he had not brought the music with him. "Ah!" was the general exclamation, "you are forbidden to play it-never mind, we will sing it ourselves." And, accordingly, this animating air was chanted in full chorus, and was followed by the Parisienne.

the

The Chamber of Deputies voted

66

supplementary sum of 900,000 francs for military pensions by a majority of 224 to 20. The discussion on this proposition was only remarkable for an intemperate sally of M. Arthur Labourdonnaye, who characterized the revolution of July, as a catastrophe." The utterance of this phrase having provoked an universal shout of reprobation from the Chamber, the Duke de FitzJames attempted to justify the expression. by affirming, that the King had himself already made use of it to denote the same event. M. Dupin addressed a reprimand to the Duke for his unparliamentary introduction of the royal name, and summoned M. Labourdonnaye to retract the offensive term. But that gentleman proceeded in his speech without noticing the appeal, though supported by almost the entire Chamber, and was again interrupted on applying the word "yoke, to the rule of the present dynasty. The President's calls to order, seem to have been attended with little effect.

and have no objection to consider Government as the most effective agent in their completion. When the subject of railroad communication began first to be entertained in a national point of view, it seems indeed to have been proposed that these great works should be accomplished by the joint co-operation of public and private resources. This, it was thought, might be effected either by the Government's coming forward with a direct pecuniary contribution in aid of the private subscription, or by a formal guarantee on its part, insuring the adventurers from all or part of the risk to which they were exposed.

• The subjoined letter, addressed by the Minister of Commerce to the Chamber of Commerce at Bordeaux, exemplifies the extent to which the interference of Government is carried in

matters which, it is generally thought, may be safely left to the vigilant activity of commercial speculation.

"I am informed by a letter, dated Bombay, October 6, that the prepara tions making for the expedition against Cabal had caused a rise in the price of provisions in that presidency of British India, which was moreover threatened with a famine from the want of

rain. Most of the trading houses of

Bombay have consequently addressed demands to that effect to England.'

"The same correspondent adds 'Some French vessels might, under those circumstances, undertake a profit

able voyage to Bombay. Being fast sailors, they would probably arrive before the English. Their cargoes should consist of brandy, salted meat, flour, and biscuit. The success of their voyage would be proportioned to their speed.'

"I leave it to you, gentlemen, to decide whether it be advisable or not to act on this Information, which I have likewise transmitted to the Commercial Chambers of Havre, Rouen, Nantes,

and Marseilles.

"MARTIN (Du Nord.)"

Finding, however, eventually, that such a project was open to grave objections, the ministers, on the 15th of February, came down to the Chamber of Deputies with a proposal for a system of railways to be absolutely under the control, and to be executed at the sole enpense, of the government. The ministerial scheme, as originally promulgated, was magnificent in the extreme. Five main lines of route, radiating from Paris as from a common centre, with a diversity of connecting ramifications, were destined to intersect the country. One was to extend itself to the Mediterranean by Lyons and Marseilles; a second to communicate with Belgium and Great Britain; a third would stretch towards the Pyrenees by way of Bordeaux and Bayonne, with a branch to Nantes; a fourth would take its course to Strasburgh; and a fifth would connect Paris with Rouen and Havre. But, at present, these were but airy speculations; the scheme actually communicated to the Chamber embraced but four great lines of road, -three from Paris to Belgium, Havre, and Bordeaux, and a fourth connecting Lyons with Marseilles. Even these were to be but partially carried into effect, in the first instance; the only one which it was proposed to complete immediately, being the Belgian, sarcastically termed, "the family road."

This project, limited as it was, failed to obtain the approbation of the Chamber M. Berryer moved for a select committee of eighteen, an unusual number, composed of eminent men of every section, and among whom were to be found Duvergier de Hauranne, Jaubert, and De Rémusat; Cordier and

Arago; Odilon Barrot and Thiers. Their report, drawn up by M. Arago, was unfavourable to the designs of government; and expressed a preference for private companies, with a view to the regulation of which, it laid down a variety of general rules and conditions.

On the 8th of May, the Government discouraged by M. Arango's report, came forward with a proposition on a still more reduced scale than their former one; all they now asked for was to be allowed to execute the road to Belgium; and to carry a line from Lyons to Marseilles. But even this was denied them, and M. Martin (du Nord) the Minister of Public Works, at length brought in six bills for establishing as many private companies on certain lines of secondary importance. Three similar bills were shortly afterwards produced, for the construction of the Havre and Orleans roads, with another from Lille to Calais. These schemes received the general sanction of the Chamber; but the committees, to whom they were respectively referred, insisted on imposing such rigorous and unfavourable conditions on the adventurers that, in many instances the projects were, on that account, abandoned.

On the 7th of April, the grant of service money was debated in the Chamber of Peers. The Duke de Broglie, in supporting the bill, begged that he might not be understood as expressing confidence in the administration. M. Montalivet, on the other hand, declared that, in his opinion, the passing of the bill would amount to a vote of confidence. It passed by a majority of 129 to 22.

One of the most important

measures of the Chamber of Deputies was a bill which passed for the reduction of the five per cent stock. A matter which has for been for some time years past much agitated; and which, it may be recollected, led to the dissolution of the Duke de Broglie's administration in 1836, and to the elevation of M. Thiers to the presidency of the Council. As early as the beginning of March, a committee favourable to the project had been deputed to examine the proposed bill, and the election of M. Gouin, as their President, and of M. Passy as their secretary, left no doubt as to the probable result of their deliberations. Their report accordingly was quite favourable to an immediate reduction of the interest.* The ministers, on their part, although they professed to be opposed to the measure, which was known to be unpalatable to the king, and would moreover bear very severely upon many persons of moderate incomes;

• The proposed bill was to the following effect:

"The Minister of Finance is authorised to substitute for the stock bearing interest at the rate of five per cent, inscribed in the great book of the public debt Rentes bearing 4 francs 30 centimes interest for every 100 francs of capital.

"The owners of five per cent. stock are to be at liberty to choose between the reimbursement at par of their nominal capital, or the conversion into the new Rentes of 46-20ths per cent.

"The holders of five per cents. may continue to receive, during six years, the same amount of interest, but at the expiration of that period they will have to submit to a reduction of one franc for every five francs of interest.

"The Minister of Finance must give an account of the execution of this law, in the course of the two first months of next session,"

nevertheless seem to have contrived to let a very general impression prevail, that the passing of the bill would, in reality, give them no great concern.

The debate on this question was opened, on the 17th of April, by M. de Laborde, in a speech dissuasive of the measure. The arguments against the reduction have already been stated in our abstract of the debate on the address; and there seems to have been neither novelty nor interest in the shape in which they were reproduced on the present occasion. Ministers admitted the legality and justice, but denied the present expediency of the measure. Upon this position, all their arguments turned. The discussion, languid and dry as it must have been, was not brought to a close till the 5th of May, when the bill for reducing the interest was carried by a majority of 251 to 145. It authorised the Minister of Finance to substitute for the five per cent. stock inscribed in the great book of the public debt, other stock bearing an inferior rate of interest, either by paying off the existing stock, by issuing a new one, or by an exchange of securities. It was at the same time provided, that the proposed operation should not take place, unless it were attended with an effectual diminution on the interest of the exchanged stock of at least fifty centimes for every five francs stock, and that the nominal capital of the substituted, or new stock should present, in no case, an augmentation of more than twenty per cent. on the sum paid off.

An

On the 17th of May, died Prince Talleyrand, in his 85th year. outline of the life of this remarkable man will be found in the second part of our volume. VOL. LXXX.

We shall not attempt to make any observations on his character, variously estimated as it is. "It is, at present, impossible," said the Constitutionnel, "to judge with impartiality a man who participated in such a variety of prodigious events, still awakening so many passions. So vast an existence, commencing almost with the philosophy of the 18th century, and terminating with the revolution, must, of necessity, provoke an infinity both of censure and blame." Another leading journal, (Courrier Français) spoke with less forbearance. "The reputation of Talleyrand is not amongst those to which the page of history will add. His own age has done him justice, and posterity, therefore, owes him no reparation. He was gifted with an amazing flexibility of character, and a sagacity which can foresee misfortunes, both of which qualities often supply the place of genius. They, at all events, conducted Talleyrand through revolutions and calamities with greater safety than would have been insured by rectitude of heart and high talent. He quitted life with a calmness that could not have been exceeded by the purest conscience. In his death he preserved all the impassibility of his life. He went out of the world like a true courtier, with a flattering speech to the king; and, being like a true diplo matist, engaged in a negotiation with the Pope, with whom, as a constitutional bishop, a married priest, and an excommunicated Catholic, he had many accounts to settle."

These allusions, we believe, refer to the following circumstances. The Prince had, some weeks before his death, been per

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