No. 130.
Mr. Washburne to Mr. Fish.
Paris, August 23, 1872. (Received September 6.
Sir: The most perfect peace and quiet remain throughout all France at the present time. The extraordinary success of the loan has flattered the pride of the French people amazingly. Though immense amounts were taken abroad, yet it seems they are all coming back to France, and are now being absorbed in small sums by the common people. [Page 183] The result will be in the end that almost the entire loan will be held in France. Every person in the whole country who has a few hundred francs is wishing to invest it in the new loan, and it has now reached a premium of four and one-half or five per cent. It would be a good permanent investment, even at a higher rate of premium. The vast amount of money in the country which this loan has brought out has astonished everybody, and it shows the immense wealth of the nation. And in the face of wars and revolutions this wealth is being rapidly increased. The value of the wines manufactured last year far exceeded that of any previous year, and the promise is equally great for the present year. The crop of cereals this year is unprecedented, and there will be a large export. All these things tend to make the masses of the people more satisfied and contented.
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I have, &c,