The financial trouble in Paris makes for Boulangism. The workmen . of
Paris detest the copper syndicate, which has em- barrassed many trades ; and their organs assert that M. Rouvier, the Finance Minister, persuaded the Bank of France to advance the 24,000,000 to the Comptoir d'Escompte in order to relieve the copper speculators, and without sufficient examination. This story, which would otherwise deserve no attention, derives importance from the resignation of Count Pillet-Will, a "Regent," or, as we say, Director of the Bank of France, avowedly on the ground of this loan, and the rumoured resignation of other officials. The Finance Minister, who certainly acted late at night, and in a hurry, has ordered an examination of the securities by four experts ; but the shares of the Comptoir and of all institutions interested in copper continue to shrink, as does the price of the metal itself. Immense efforts are made to reassure the markets ; but the losses must be great, as the accumulation of copper caused by its high price, and the stimulus thereby given to mining, must ultimately be disposed of at very low rates. Somebody must pay the differences, and as the somebody will probably be the aggregate of lenders on copper, it will be most difficult to avert a shock to public credit. In Paris, a Black Friday usually precedes a political outburst.
