A perfect fend is raging in Paris on the one
question which few study, but which drives a large proportion of those few mad,— currency. The Conseil Snperieur du Commerce have been directed to inquire into the present policy and action of the Bank of France, and are now taking evidence on the sub- ject from all sides. The Pereire-ites, who think that the Bank of France should not raise the rate of discount when there is a drain of gold, are exceedingly mad against the Wolowskites, who think (like sensible men) that it is the true remedy. The party who go for cheap money in a drain also go for more note-issuing banks to compete with the Bank of France to give it,—and of course call those who do not wish to grant this, monopolists. It seems likely that "great searchings of heart,' such as accom- panied and followed our " Act of 1844," are in store for lively Paris. A currency mania is, however, a complaint like the measles, which a banking country must suffer at least once in its life, and we can only hope that if it can be vaccinated with a principle for preventing its recurrence, it may not resist too long.
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