The Express.
London, England, 1861-10-09 00:00:00

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LONDON, WEDNESDAY, OCT. 9.

TO OCR RRLDIIRS.

SPORTING INTELLIGENCE.

A !atc edition of the pnbliihtd every
evening .Inring the racing containing the
results of the tines race:.

Tire exceptional state of things amidst which
the mercial Treaty with France happens to
come into operation is certain to modify fur a
time its working in some particulars. Thu French
harvest of 186: having fallen far short of the
national wants, the price of bread in Paris and
other taiga towns has rapidly risen to a very un-
usual point ; while the obvious necessity of seek-
ing in foreign porta for extra supplies of the
prime reysisite of life, and of providing for the
payment thereof in gold within a limited time,
has not only raised the current value of money far
beyond that which prevails elsewhere, but has
tended to check abruptly the ordinary facilities of
credit on which the activity of the commercial
system so much depends. Occult and mysterious
as the workings of that system often seem
to be, there aro many great facia re-
garding it which it is impossible for the
most ingenious to mystify, or for the least
reflecting to misunderstand; and this is ono of
the plainest of them—namely, that if a Column•
nity unexpectedly finds itself obliged to in-
crease largely its expenditure on foreign food,
it tto the same extent deny itself the grati-
fication of purchasing other foreign articles of less
liec.ossity. In whatever degree, therefore, the
products of British industry may, during the next
few months, be sought for and purchased by our
neighbours, we may take for granted that it is
with a minimum the new mercantile intercourse
between the two countries will have begun; that
we are sold ma likely to have so small a demand
for our products, and that we are certain to have
in onliiiray years a mnch larger and more pro-
fitable addition to our custom for all those great
staples of uutiand skill in which we can show our
superiority.
Note it% binding the peculiar drawbacks referred
to, tte2re i reason to believe that a healthful and
assuring commencement is about being made in the
interchange of commodities under the reduced com-
mercial tariff. The cotton trade is not indeed in a
condition to profit as much as others by the change
of duties guaranteed by the recent Treaty. The
morning and evening thought of Lancashire just
now is how to supply anyhow the old habitual
demands upon its capital and labour. For the first
time it is threatened with a lack of raw material ;
and do what it will, it must for the present be
content if it can keep the old markets moderately
supplied. fly and bye things will infallibly right
themselves in this respect, and then we shall see
what ouantity of cotton goods our French
friends will desire to be furnished with from Man-
chester ; but for the remainder of 1861, and pro-
bably for a portion of 1862, we cannot expect to
have much to note under that head of export.
Yorkshire and Staffordshire, Lanark and Down,
are happily in a very different case. Limeys and
linens, cutlery and carpeting, saddlery and earthen-
ware, are each and all likely to find many buyers
they never had before. We are rather glad to
hear little or nothing of huge experimental
ventures in any of these branches of trade ; but we
rejoice to learn that a wholesome activity has been
perceptibly imparted to all of them by the de-
mands which have come from nearly all the great
towns of France for tentative consignments of
English goods. We also learn with no inconsider-
able feeling of interest that in Paris, Marseilles,
and Havre, establishments have been already
opened with joint-stock capital for the special sale
of various articles of English manufacture. We
do net expect that in the main the consumption
of imported fabrics will be thus provided for.
Ultimately English woollens, linens, and cottons
will probably become part and parcel of the
regular stock-in-trade of every French draper, just
as French silks, gloves, and ribanda have become
so with us. But in the first instance, and probably
for some time to come, it may be of no little ad-
vantage both to sellers here and to oonsnmers

there, that great eherrpi;fs should exist, conducted
upon a liberal system, and with large means for
its development, by means of which the un-
thinking many may be convinced at a glance of
the variety of useful and convenient things which
Free Trade has brought within their reach, and
satisfied by the easiest and pleasantest of all
arguments, that of a cheap bargain, that they can
do better for themselves and their families in a
hundred small ways than they could ever do before.

If Mr. CoBI.EN and M. ROUHER could have
devised and executed a scheme for practically 11
giving their great experiment a fair trial speedily
and popularly, some such operation as this would
have certainly occurred to them. But what they
could not do, and dared not have meddled with,
has happily sprung up spontaneously, with the op-
portunity which it is their praise to have created.
Perhaps there may beat first a little jealousy of these
monster Mal/aging (1r marrhanoliAea A luilaists. Like
all establishments of the sort, their chance of re-
munerator(' gain will lie in their being satisfied
with very moderate profits. But while this has a
tendency to prevent their multiplication, it ham
likewise the effect of provoking competition by the
ordinary traders in the articles, which stiff-necked
prejudice might otherwise view with disfavour ;
and it is in this indirect way, as we have already
hinted, that a still greater diffusion of foreign trade
may be calculated on. Time was when the notion
of such joint-stock enterprises for any purpose
in France implying, if not imposing, a minimuui
of profits would have been looked upon with
coldness or contempt. The spirit of the lottery
was that in which enterprise of all kinds was con-