The Sun.
London, England, 1851-10-21 00:00:00

that trade, because they deluge it at their
own convenience to the total annihilation of
all fair principles of exchange, leaving the
merchants, who perhaps may have responded to the
call from Leadenhall-street, by paying them in ster-
ling gold for bills upon the Governor-General of
India, to get their money back as best they may.
This anomalous proceeding once permanently discon-
tinued would give rise to the establishment and
healthy working of a new class of moneyed firms,
confining themselves to exchange operations with
England, India, China, &c., and who we may hope
would discountenance the practices of the present
soi•disant merchant princes—that of interfering with
the local tradesman, by selling retail from their
" godowns" saddlery, spirits, guns, wine;.&c., an act
which should appertain exclusively to those who are
obliged to keep heavy stocks of them, and who have
allowed those same merchants a fair participation in
the importation of them to India, either as indents to
their order, or by the purchase of them as consign-
ments. Through such improved channels as these,
then, we would wish to see the currency of the
country directed, a measure that would effectually
stop the present system of advance, careless as to
quality and excessive as to quantity, indeed, start-
ling as may appear the assertion, too often upon
neither quantity nor quality, but upon mere bills of
lading that have been signed by captains at the re-
quest and under the illegal guarantee of the shipper,
avowedly to " save the mail," before the goods are in
many cases even bought, much less shipped. The
Honourable East India Company would then have
ample means of remitting through these channels,
between which and their bills issued from Leaden-
ball-street upon India, the whole of the three
millions necessary to the payment of dividends,
&c., might be realised, thus rendering their finan-
cial identity with India a boon instead of a
bane to the mercantile community there, who
in detail (that is, men with moderate capital engaged
in the importation of British manufactures, and the
exportation of Indian produce,) would derive new
life from the extermination of such foolhardy brethren

as Messrs. HITORMIBS, LuciusALL, and Co. The
fourth instance we trace to the moneyed interests in

England, connected with India. now can any mer-
chant or banker (we mean branches from the East)
for one instant support so palpably rotten a course as
that of advancing money upon the security of goods
for which they must know that the buyers have had
credit, and that they must lose in commission and in-
terest upon advances in India the little they may
gain by the exchange upon that place, to say nothing
of prejudicing the sale of such goods by having en-
cumbered the consignees, as before explained, and
which goods may go into the market to compete
with their own shipments or those of their manufac-
turing supporters? 'We trust, therefore, ere long,
to find that the East India Company have finally en-
gaged to discontinue their participation in the
present pernicious system of advances. Indeed, their
pecuniary position in this country having barely,
since the commencement of their financial year, in

May last, realised half a million towards the three
millions required, must have shown them that some-
thing more secure than a conditional and temporary
cessation is necessary to the mature development of
the desired regeneration of mercantile interest in the
East.

Based upon a surer foundation, India possesses as
ample a field for occupation as for improvement, and
we could wish to see a powerful concentration of
talent, wealth, and experience resolve itself into a
body for the purpose of regulating the acts of such
high-pressure fortune-makers or breakers as Messrs-
S., S., and Co., M., M., and Co., and H., L., and Co., and
of anticipating the interference of the Imperial Par-
liament with India generally, inevitable at the ex-
piration of the present charter in 1854, by framing
for its consideration particular measures extending
equitable protection to our
.enterprising and indus-
trious countrymen, and insuring a more effectual
maintenance of our credit in that quarter—acts in
which we have no doubt they must receive the cordial
co-operation of the wealthy "Kootee Nallas" and
"Banyans" of that favoured country—thus creating
India (for the chief presidency, whereof at this
moment read " City of Paupers," instead of " City of
Palaces"), as far as Englishmen are concerned, a
fimer and more permament source of prosperity to
England, a safer field for the employment of its capital,
ability, and industry, than it has ever been ; and last,
though not least, protecting their unoffending country-
men "at home" from the ruin and ever wide-spread-
ing disasters of au event, in which the East India
House have ever taken the initiative, a " commercial
crisis."

THE FRENCH REPUBLIC.

We have received the Paris journals of yesterday.
The Pays says—" We have announced that M.
BILLAULT has had several interviews with the PRE-
SIDENT of the Republic. We believe that we may
state to-day that these conferences have not led to any
result, and that M. BILLAULT has not undertaken to
form a Cabinet. Moreover, we still have reason to
believe and repeat that as yet nothing has passed be-
tween them respecting the other elements to be in-
troduced into the Ministry, and that no proper name
has been pronounced, We may, however, consider
it highly probable that the portfolio of war will be
reserved for General SAINT ARNAUD.

It is said that the PIZESIDE/iT has sent for M.
Ducos, to form a Ministry. Under Louis PHI-
LIPPE, M. Ducos was a member of the Gauche Dy-
nastique, distinguished for his hostility to the Legi-
titnatists ; it was he who in the Chamber of Deputies
proposed the resolutionoffiettrisure against those who
visited the Duc DE BOURDEAUX in Belgrave-square,
and who proposed the ordre du jour motive in relation
to the Tahiti affair.

The Permanent Committee held a sitting yesterday.
The members present were :—General Bedeau, who
presided; Messrs. Base, Yvan, Chapot, Birard,
Deupin, Moulin, 11. Didier, General Changarnier,
Sauvaire-Barthelemy, Passy, de INlortemart, Olivier,
General de Bar, Druet-Dasvaux, Admiral Cecile,
de Melun, de Montigny, de Kermarec, Dufougerais,
Hubert de Lille, de la Tourette, de Montebello,
Goum, Vitel, Poujoulat, de Bernady, General de
Grouchy, and General Rulhieres. Messrs. Berryer,
Bocher, and Blinvilliers, were absent. The sitting
did not occupy more than half an hour, two or three
members only taking part in the conversation. At
the opening of the meeting General BHDEAU read
some reports from the police. In one of them a re-
port was mentioned that the 6th regiment, just ar-
rived in Paris under Colonel GARDENENS DE BOISSE,
had been received at one of the barriers, near the
Ecole Militaire, by groups of persons who endea-
voured to provoke a manifestation. The committee
came to no resolution, and adjourned to Thursday
next.

The Bourse was more firm than for some days past.
The Fire per Cents. opened at 90f. 30c., and closed at
90f. 80c.; the Three per Cents. closed at 55f. 75c. for
the end of the month; Orleans Railroad shares, 855 f.;
Rouen, 552 f. 50c.; Great Northern, 453 f. 75c.; Avignon,
2101.; Vierzon, 420 f.; Bale, 145 f.; Paris and Straaburgh,
347 f. 50c.; Amiens to Boulogne, 258 f. 75c.
BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK EXCHANGE, OCT. 20.
Boulogne and Amiens, 101/2—Tours and Nantes, 61/2.