The Express.
London, England, 1864-09-14 00:00:00

raPRESS FROM PARIS.

(nor on ow=

PARIS, TUMIDLY EVICIII3O.

The treaty which M. Auberet has lately signed
at Hui is differently viewed by the journals who
write in favour of all government measures and
those who do not. In the midst of a rather lively
contest the Moniteur has observed a dignified
silence with regard to everything except facts.
The official journal does not trouble itself with a
denial of an assertion made by its opponents that
the ratification of the treaty would be an abandon-
ment of a large portion of the territory conquered
by French arms, a conquest which had a nasty
effect on the French budget. The Moniteur could
of course give all the information required about
the negotiations, and would probably do so had it
anything agreeable to tell. This colonial question
is no small one ; it concerns an immense and
fertile possession, and the problematical payment
of several millions would be no adequate recom-
pense for its loss. When government undertook
the expedition it had no idea of selling
what it seized to pay the expenses of ejection.
When the treaty of Saigon was signed three out
of the six provinces forming lower Cochin China were
given to France, who, directly she got hold of them,
began to hesitate about keeping them. French
colonies do not pay—for Frenchmen, when they emi-
grate, emigrate from the government, and statistics
show that the small stream which dribbles from these
shores makes its way across the Atlantic and in the
direction of Canada. Two opinions appear to have
divided the counsellors of the crown—one set, sus-
taining the ideas of which Colbert dreamt, wished
to keep Cochin China and turning it into another
India. The other party, merely looking at the
necessity of establishing an equilibrium iu the
budget, insisted that an embarrassing conquest
should be abandoned, and the best bargain possible
made with the children of Annan). At the
last moment it was decided that the pos-
sessions of Lower Cochin China should be
kept, and fresh instructions were sent out to M.
Auberet. The result of the new stipulation is
this :—France gives back to the Emperor of Annam
the three provinces of Saigon, Mytho, and Bien-
Hoa, which were ceded to her in June, 1862, only
retaining three isolated points, which will be diffi-
cult of defence, and which will not give commercial
advantages equivalent to their cost. In exchange
for this sacrifice France obtains the protectorate of
the six provinces and an indemnity of 100 million
francs. This indemnity will be paid at the rate of
two millions a year. The payment of this sum will
probably give rise to numerous difficulties, whilst
the yearly instalment will be but a drop in the
French budget. It is not likely that the treaty of
Hui will be better observed than that of Saigon.
Those who know the Oriental character say that
France, in giving up what she had conquered,
will thereby lose her prestige, and if she
is determined to enforce the present treaty
and stick to her three isolated depots, she will have
to fight all her battles over again. As far as equi-
librium of the budget goes, that should have been
taken into consideration before the expedition.
France will have as much difficulty in collecting her
rents in Mexico and Cochin China as any gentlemen
burdened with dirty acres in Tipperary.
The market continues without much animation,
but prices are well maintained. The Mobiliers
have slightly improved, being last called at 1,017 fr.
50c. There has been little variation in the ra'lway
quotations.