The Sun.
London, England, 1847-03-20 00:00:00

The extraordinary financial arrangement which has
ust been entered into between the Emperor of Russia
and the Bank of France, or, more properly speaking,
between the Russian and French Governments, is
deserving of the most serious consideration, and
should awaken the utmost degree of vigilance
in those to whom the direction of the foreign
affairs of this country is intrusted. In ordi-
nary times, and under ordinary circum-
stances, such a transaction might appear sufficiently
simple, and not deserving of any particular comment.
It would seem natural enough that the commercial
interests of one great country should assist those of
another, which, by the failure of the harvest, or any
other calamity, might be involved in temporary diffi-
culties, and anxious to obtain aid for a time sufficient
to extricate them from their embarrassments. Such
an act would be not merely natural, but praiseworthy,
and would tend to improve the feelings of amity and the
mercantile relations between the kingdoms. But at the
present time, and in the present state of affairs, and
considering the manner in which the proposition was
made and accepted, it assumes an aspect of peculiar
significance, and would ,appear to indicate that some
great alteration has taken place in the existing rela-
tions between the Cabinets of Paris and St. Peters-
burgh.
The negotiation has not taken place between
bankers or traders. It is ostentatiously put for-
ward by the representative of Russia as coming
directly from his Imperial Master to the Freach
Court. It appears as a token of forgiveness from the
Autocrat to the King of the Barricades, a recognition
that the latter is prepared to give in his adhesion to
the Absolutist doctrines to which the former is so en-
tirely devoted, a desire to extend the Russian influ-
ence in France, and to strengthen the hands of those
smitten with Anglo-phobia, the extremes of all par-
ties, who forgetful of the best interests of their coun-
try, and of the constitutional liberties of the many in
all parts of the world, would gladly see a Muscovite
alliance substituted for the entente cordiale, to which
the perfidious conduct of the French Government,
in the affair of the Spanish marriages, gave a death-
blow. The season is propitious for such an advance.
It is needless to advert to the hatred of the CZAR to
the principles of the revolution of 1830, or to the
readiness with which he would have crushed the ex-
pression of the national will, had England remained
neutral, or refused to recognise the new dynasty
called to the throne by the people. Hitherto that
dynasty has been merely tolerated, not approved of. I
was viewed with suspicion as the supporter o

universal freedom. In the French Chambers the
wrongs of Poland have ever been fearlessly dilated
on, and an annual protest against the extinction of
Polish independence has been almost unanimously
carried in both assemblies. Meanwhile England and
France were united together by the closest ties, and
by their union were placed in the proud position of
guardians of the liberties and the peace of the world.
With such feelings as then existed there was little
danger of an attempt at the destruction of any minor

state, or, to use the more favourite expression, its
incorporation into the dominions of a more powerful

one. The ambitious designs of the Emperor were

checked. He would not rashly provoke two such

powers, bound together in close and friendly alli

ance. He sought not, therefore, to conceal his real feel-
ings, the true character of his sentiments with regard to
the French Government and the French people. Insult

and contumely were consequently heaped upon the

former, and the KING himself was scarcely admitted
to a place in the family of Sovereigns, or his children

considered worthy of being received in mar-
riage into the house of some petty German Prince.

A change, however, took place.

The sacrifice

of that English alliance, so beneficial to the people of

both kingdoms, and so essential to the preservation

of free institutions, for the unworthy purpose of ob-
taining a large flotation for, and the personal aggran-

disement of, the youngest son of the French KING,

afforded an opportunity for which the wily Autocrat