We have received the Pari...
'We have received the Paris papers of Friday. They contain the account of the rejection of the Ministerial pro- ject for the conversion of the rentes, on Thursday. last. This important measure was lost by a majority of 15-the number being, for the first article of the bill, 105; against it, 120. Both the liberal and the anti-ministerial ultra papers .ongratulate the public on this result. In stating on Saturday that the plan of the Minister had been carried, we proceeded on the authorty of several evening papers; but that our ow, opinion was against its wisdom and justice, and consequently that ye could have no bias in tnisrepre- senting the fact of its passing, will be evident from the per- usal of the observations which we then made. The papers of Friday contain no other news of public interest. FRENCIi 1uNDs.-PA]rs,.,June 4.-Five per Cents. opened at 101. So. closed at 10?.; Bank Stock, 1,900.; Neapolitan, 90o.; Royal Spanish Loan, 63: EBxchange on Lon&oR, one month, 25. 25.; two months, 25. 5.-Cours Aunthentiqite. The project of law for the reduetion of the French debt having failed, the letters from Paris, as might be expected, are employed on canjectures respecting the secret causes of an event so inexpeoted. It appears to have been owing, in great-measure, to the influence of t4e clergy, who, as they were likely. to be the greatest sufferers by the law, be- came of course its most strenuous opponents. Of the extent of this influence the French Minister does not appear ta have been fully aware; neitber would it seem that the hos- tility of the Archbishop of PARIS to the measure bad been at all relaxed in consequence of the personal interference of the KING, who, before the bill wasbroughtintothe Cham: ber of Peers, endeavoured to change his known intentibn of opposing it. As the hostility of the clergy, however, is not of itself sufficient to explain the failure of the measure, some well-informed letters hiut, as another aiding cause, at the jealousy of a portion of the French Cabinet at the degree of influence likely to be acquired by N. de VIL- LELE,in carrying through, in one session, two such impor- tant measures as the creation of septennial chlambers and the reduction of the interest in the national debt. Supposing this feeling of jealousy to be ex cited, it would be the more encouraged to act by the prospectof gratification held ont by the known state of opiRionin the Chamber of Peers, where M. de VILLELE himself did not reckon on obtaining a majority of more than 10 or 1e>-votes in hisfavour. Some effect is also attri- buted to the hostility oi M. SALTORIS, who having seceded from the company of capitalists formed to conduct the conversion of the Freneh debt, in consequence of the dis- agreement with Mr. BABtING, might not feel unwilliing to deprive.them altogether of the profits expected to result from the undertaking. There Is no truth, we understand, in one hypothesis wbich has been circulated,-that M. de VILLELE had himself wilingly allowed the measture to be lost. He was perfectly sincere in his support of it,and to the last had beea sanguine af success; so that his resignation, in consequence of its failure, is considered a probable event.