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Taranaki Herald, Volume XVI, Issue 821, 18 April 1868, Page 4

European- Loans. — Noticing the universal call for niOHe3' on the part of European Governments to meet the expenditures caused by the maintenance of enormous military establishments, a foreign correspondent of the Pvitanvi Star and tferald', says : — " To cover the necessary expenses of tlteso stupendous' arrangements, somo increase their impost*, others borrow, some beg, some pretend to undertake extensive public works and give their bonds — m short, all try to get money - 1 the best way they can. ' Italy levies a tax upon incomes, which is the commencement of bankruptcy. Ita bankers say to the public : ." We owe you a hundred francs interest ou -money you have lent; bat wo will not pay nioro than ninety." And another Italian* -loaft 'is ulso expected to cover the existing- dnficit, which is s-ipposed to amount to a milliard. Spain has formed a national bank, a capital of 100,000,000 francs, which seems to be a loan disguised by the name of business, but " which in reality is intended to take from the pockets of'nrhoevor may be its creditor the hundred mil Hops of which Spain h.is nee.l. Turkey is negotiating a loan of £100,000 under the pretence oF erecting public work-? at. tho mouth of thj Danube.- ' Doubtless ' tho Pashas, tho armaments aUd the seraglios trill absoib a large portion of this loan iutended for the Danube. But who of the French or English creditors will have permission to go and investigate whether the money is properly employed? ' Portugal is making a loan of 137,000,000 francs. The country is not arming, for no one .meuaces it. There is neither famine nor pestilence within its boidere. The reasou is that on account of maladministration tho Government has need of funds to cover its unwarrantel expenditures. Under pretext of building a railroad in Hungary, Austria is borrowing. 1 do not remember how many mi lions — and, in order to make negotiations as easy as possible, glowing descriptions of tho fertility and wealth of Hungary are met with everywhere. Yesterday one of the agents of the Government asked mo if I would writo a series of articles on that country, its agriculture, mines, customs, &c, to which I could only reply that I was not a drummer for loans. The Pope has literally gone a begging at every door in the C.itholio world. The Catholic journals are everywhere urging the claims oi' the good cause. There are on every side Papal mi, I'eter'a Pence, offerings, collection*, indulgences and benedictions — all for money. This saems to be the sole object of the head <.i."Chrietianity in 186". The Sovereign Pontiff, the Apostle of Peace, tho Demi Dieu, has \ also need of an .irmy. IT respect did not arrest my ' pen, I should not be able to Hud language to ex- j press a ju»t indignation at this anti-christian monopoly. France is again obliged to resort to a j loan, and "or no other reason than the inordinate nnd inconsiderate expenses of the Government. ] Meanwhile a million of earnings Ho idle in the bank, uuj distrust of the future will tend to keep , it there. For ten years France lias loaned to differeut Governments more than three milliard of j francs, and, tired of this, money is hoar Jo J in i expectation of better times." A Sixcuia.it Phexomknox. — On tha 29th Decumber a most singular phenomenon was ■witnessed at Copiapo, which a journal of that pl.-ice describes as follows :: — *♦ At about 5 p.m. owing to the light 'clouds which covered the eky like a= broaJ curtain of gauze, there aj>| cared tiro rain-bows surrounding the sun. Towards the west was a third rain-bow, in a direction opposite to rhe ether two. Soon after, the orb or day was reflected with such intensity from the nnrtliurn and southern extremities of tliu contra.! bow as almost to induce the beliuf that tlmrj were three suns placed in a straight liu'u e(jtiFdi<it;iiit from one another. The brightuesn ol' tliu apparent puns was so intense as to dazzle the eyes of' the beholders. Alternately losing and recovering tlvpir brightness, tho two njijiareiii suns; remaining visible iiui.il sunset, by which lime the ram-bow had disappeared."