The French have advanced to the relief of Indian finance.
It struck some Parisian speculators that if the Rupee loans were made loans with coupons, they might be popular in Paris, as they yield at the average of exchange more than four per cent. The Indian Government consented to have coupons affixed to the bonds, and the Comptoir d'Escompte de Paris and a Syndicate of speculators tendered for the whole loan of two and a half millions just offered in Calcutta at 44 per cent. They offered Rs. 103 3 annas, and received the whole, except 500 rupees, which some whimsical native had asked for at Rs. 110 1 anna. The bonds have since gone up to 105, and if they are popular in. Paris, the relief to the Indian Treasury, which can then borrow large sums in India itself, will be consider- able. It is quite possible they may be popular, the smaller French rentiers not being so annoyed by fluctuations in the rate of interest owing to the exchange as English investors are.
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