French Papers.
The Mlinister of Finance addressed the Chamber on the project of law fbr the conversion of the renttei. In the course of his speech he read the following letter from the bankers whose names are under- signred: "PARIS, MVAY 24. " Mv Lord,-We have read with great surrise in the report made by the Duke de Levis to the Chamber of Peers, that a pro- pcsition had been made to the commission, of which he was the organ, on the part of the united bankers, announcing, that modify- ing their contract Witil the minister, they consented to give durin five years to the small holders of stock (to the amount of 40 millions) the one per cent. reduction, which will be caused by the change of their 5 per cents. ints 3 per cents. " There would be an impropriety, my Lord, of which we are in- capable, in addressing any proposal whatever to any one but your Excellency, and this impropriety we have not committed. " We have the honour to send you a copy of the letter which we thought it our duty to forward immediately to the reporter. You will ihere see, my Lord, that we have neither written nor sent any note to the commission, that no proposal has been made by us, and that no one has been authorized to act for us. "The public harappeared astonished that we couldgive up40mil- lions in a transaction which fixes the maximum of profit at 35. That would indeed be incomprchensible, butifthe conditions talk;edofare those which have really been proposed, the pretended sacrifice would be in fact only a considerable increase of profit for the company. W *e have the honour to be, &c. "J. LAFITTE. 'ALEX. BARING. "Baron J. de ROTHSCHILD." The ill inister then communicated the following four artic.les ofthe contract with the bankers:_ " Article 1. As soon as the Chamber of Deputies shall have met, the Mlinister ef Finance shaU present a project of law to. authorize the conversion of one hundred and forty millions of five per cent. consolidated stock into three per cents. at the rate of 75 francs. " ATt. 2. On the other nart the above-named bankers undertake to furnish to the Treasury the sums necessary to pay off thosepf the holders of five per cent. stock who may not consent to the conver- sion, and to take themselves, at the fixed rate of 75f., the three per cents. intended for the aforesaid dissentient holders. " Art. 8. In etutrn for the service rendered to the Government by thc contracting bankers, they shall enjoy the profit which may arse to the Treasury from the conversion, from the day of its com- mencement to the 31st of December, 1825. " Art. 9. All the clauses and conditions not provided for by the present contract shaU be agreed upon hereafter bona ftde; the con- tracting bankers will consult with the Alinister of Finance upon al the measures which it may be advisable to adopt for the interest of tbe State and for the conversion to which the present agreement has reterence." FRENTCH PAPERS. CHAMBER OF PEERS. MAI Ik