The Sun.
London, England, 1860-05-24 00:00:00

lD
IiOYAL EXCHANGE ASSURANCE OFFICE,
j Royal Exchange, London,
• 23d May, 16(30.
The fourt of Directors of the Corporation of the Royal
Trehame Assurance do Hereby give Notico, that their
Tratasfer-Books_will be shut from THURSDAY, the 7th of
Jul:lei:text, to THURSDAY, the sth of July following; and
that a 'General Cbart of the said Corporation will be holden,
at their Office at the Royal Exchange, on WEDIMSDA.Y, the
20th of June, at Twelve o'clock at noon, to consider of a
DiViderict.
JOHN A. HIGHAM, Secretary.

LONDON LIFE ASSOCIATION,
81, King William-street.
The Directors of this Association hereby inform the mem-
bers that the PREMIUMS falling due in the year commenc-
ing on the let July next, from those members who have been
assured for seven or more entire years, will be REDUCED
at the rate of B?.i per cent., leaving 17i per cent. only to be
paid. EDWARD DOCKER, Secretary.
___._.-------------

BENSON'S WATCHES.
" Perfection of mechanism.—Morning Post.
5c01d.......................... 5 to 100 guineas.
G
Silver .......................... 2to 50 guineas.
Send 2 stamps for Benson's Illustrated Pamphlet, descr7p-
tive of every construction of watch now made, with their
prices.
India and
Watches
the nt to all parts of the kingdom fres by post, or to
Colonies for ss. extra.
33 and 34, Ludgate-hill, London, E.C. Established 1749.
1

THEATRE-ROYAL, HAYMARKET.
Lessee, Mr. J. B. Blackstone.
Tli J S s:VENING, SOMEBODY ELSE. Mr. C. Coghlan,
Miss Ida Sumner, Miss Brennan.
Followed by THE FAMILY SECRET. Messrs. Chip
penda H
Farren,rsV.
B.
White, Mrs.o Howe,
Wilkins, and Miss Amy
Sedgwick.
Atter which, a new fairy romance, THE PILGRIM OF
LOVE.

ROYAL PRINCESS'S THEATRE.-
Lessee, Mr. A. Harris.
THIS EVENING, OTHELLO. Mr. Phelps.
To conclude with THRICE MARRIED. Mr. Meadows,
Miss C. Lcclercq,
Commence at 7.

it DELPHI, NEW bs
THEATRE-ROYAL.
Sole eroprietor and Manager, Mr. Ben). W6ter.
Ile-appea,-ance of Mr. and Mrs. A. Wigan—Third week of
the populae American Actress, Miss Julia Daly.
IBIS vNENING (eighth time), ITS AN ILL WIND
THAT BLOWS NOBODY GOOD. Messrs. Alfred Wigan,
J. L, Toole, Stuart, Billington, C. J. Smith, Ward, Mrs. A.
Wigan, and Miss H. Simms..
After which, OUR FEMALE AMERICAN COUSIN.
Messrs. Stuart, C. Selby, Billington, Eburne, Miss Julia
Daly, K. Kelly, Laidlaw, and Mrs. Chatterley.
To conclude with GRIMSHAW, BAGSHAW, AND
BRADSHAW

Box-office open from 10 till 5.
Private boxes, £2 2s. ;4slily Boxes, £l.
Orchestra Stalls, ss. ; Balcony, . n Circle Stalls, 3s. ;
Pit Stalls, 26.; Pit, ls. 6d. ; Amphitheatre, is ; Gallery, 6d.
Acting Manager—Mr. Win. Smith.

ROYAL ST. JAMES'S THEATRETBCh ,
King-street, St. James's. Lessee, Mr. . .
ton. Directress, Directress, Miss Wyndham. The nearest Theatre to
Chelsea, Pimlico, and Westminster, the Park being open to
Carriages and foot passengers all hours of the night.
THIS EVENING the performances will comment* with
a new and original comedy, entitled A FRIEND IN NEED.
F Robinson, C. Young, &c.
To be followad by DIDO.
After which, A CHANGE OF SYSTEM.
Reduced Prices—Gallery, 6d ; Pit, ls. The Box-oflioe open
from 11 to 6 daily. Doors open at half-past six; perform
ance commences at 7.

A STLEY'S ROYAL AMPHITHEATRE.-
Proprietor, Mr. Wm. BATTY.
Thirty-seventh Night of the GREAT MILITARY SPEC-
T ACLE. In compliance with numerous inquiries at the Box
Office, the Management has arranged to give Four Grand
Mid-day Performances during the Whitsun Holidays, viz.—
on Whit-Monday, May 28th, Tuesday, 29th, Thursday, 31st,
and Saturday, June 2d. The Entertainments will consist of
a Recherche Display of Equestrian Performances and a
Light pleasing Dramatic Piece ; commencing each day at
Two o'clock.

THIS EVENING,
The Grand Hippo Drama, " THE HISTORY OF A FLAG."
Wondrous Scenes In the Cirque, supported by the most
talented Equestrian and Gymnastic Artistes in the World.
concluding with a Laughable Farce.
'flit. magnificent Chan leliers manufactured by Messrs. De-
fries arid Sons, Houndsditch.
Doo: s open at half -past ft, performance commence at 7.
Box-office open daily from 11 till 4.
Stage Manager—Mr. W. WEST.

CONCERTS.-

CA NTERB UR Y HALL
VE
THIS ENING.
C. H. GOUNOD
ST. 'S OPERA,
FAU
first Time in this Country.
Faust Mr. Henry Herbert.
Mephistopheleg Mr. C. Bernard.
Siobel Mrs. Anderson.
Marguerite ..... Miss Russell.
Conductor Idr. Jonghmans.
And selections from
Dinorah, Trovatore, Macbeth, and numerous other
Entertainments.
Balcony, is, Hall. 6d.
Comic Vocalists —Messrs. George Hodson (the Irish Come-
dian and Mimic), and W. T. Critchfield.
The AFRICAN OPERA T itOUTE, their first appearance
sin 1852, consisting ot ELEVEN STAR PERFORMERS,
who will give the whole of their inimitable entertainment
every evening.
The gallery is open from 5 till 11 on Sunday Evening.

THE WEATHER.-Surr OFFICE, MAY 24, MO,

THERMOMETER, IN THE SHADE.
74—highest since noon yesterday.
53 —lowest this morning and during the night.
70—this day at noon.
BAROMETER-30.02 ; falling.
WIND—W.N.W ; fresh, with fine, cloudy weather.

HIGH WATER AT LONDON BRIDGE.
THIS DAY.—Morning, 3h. 59m.—Afternoon, 4h. 20m
To-moßßow.-Morning, 4h. 41m.—Afternoon, Oh. 3m

t9l.
4 Co?
• ;I'.`"A, 4
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THE SUN.

LONDON, THURSDAY, MAY 24, 1860,

To-night, if other business do not interfere, Mr.
GLADSTONE 15 to propose in the Committee on
Customs Acts the cessation of duties on the im-
portation of paper from foreign countries.
Whether he will now do so remains to be seen.
If he does, the House of Commons will, we trust,
and on both sides of it, decline to follow him. The
House, to be sure, does not yet know what the
Lords have done. It has heard a rumour of
a certain bill which it sent up being rejected in
" another place by a majority of nearly two to one."
To the Commons, however, the paper duty is only
" missing,' and they are about to send an expedi-
tion in search of the missing bill. Its fate they
expect to learn from the logbook of the House of
Lords. How long the search will take we,
never having undertaken such voyages in such
company, are not able to conjecture. Probably it
will be successful soon enough to enable the Com-
mons to take the case of the Paper Duties Repeal
Bill into account.

Whether it does or does not, the speeches and
the votes of the house will, we presume, be guided
by common knowledge and by commonsense. If so
there can be little doubt as to what will become of
the Repeal of the Customs duties on Foreign paper
in the House of Commons. Possibly some of our
readers may not remember the precise position of
the question. The duty on English paper is lid.
per lb. French and other foreign paper pays an
additional customs' duty of ld.—that is, all foreign
paper pays 21d. per lb. To the extent of this addi-
tional penny, English paper appears to enjoy pro-
tection. It is just here, however, that the Great
Rag Question arises ; and also the question of what
is due to English manufacturers on account of the
cost and trouble of Excise supervision and inter-
ference. Taking the two into account, English
Paper not only enjoys no protection, but is rather
at a disadvantage as compared with foreign paper.
Now, when the Government proposed to abolish
the excise duty here, that part of the claim for the
protective penny of course went with the abolition.
Not so the other athe greater. It was soon found
that the French prohibition of the export of rags
was tantamount to the giant of a bounty to the
French manufacturer to a very heavy amount—
not less, we are informed by the trade, than 23 per
cent, on the manufactured article. Indeed, so
large is the bounty, that French paper now comes
into our market notwithstanding the countervailing
duty of one p'e'nny—the calculation, therefore, is no
imaginary one, If prohibiting the exportation of
rags from Fran ce more than countervails the penny
duty now, it is obvious that if the prohibition on
export of rags r eviaims, and we abolish the extra
custom-house p, mny, our papermakers will be
placed at a most unrighteous disadvantage.
It may be rer aembered, also, that there was a

little French trickery on this subject. When the
repeal of the duty was under discussion, the
House was informed that the French Govern-
ment had agreed-to take into consideration this
subject of the prohibition of the export of rags.
It was so mentioned that all understood the pro-
hibition was to be removed. Probably the Cabinet
itself thought so as well as the House. We esti-
mated French honour by our own. Had
our Government made a similar announcement,
while discussions in the French Chambers were to
be influenced by it—the House of Commons would
have spurned the Minister who could disgrace it by
sharp practice with a foreign country. The French,
however, have no such sense of honour ; and after
all seemed to be made safe with regard to its own
interests in the British House of Commons, it turned
round and told us that the duties on exportation
should be not abolished but reduced! And—so
reduced as still to be a virtual prohibition.
Now, therefore, we take to be the time to get
redress for this insult. The duties on French
paper are not yet abolished. Let them remain as
they are. Let France learn that we will not be
exactly made fools of. She is quite welcome to
cancel the treaty if she likes. No one would object
to retain the old duties on French wines, to re-
plenish our exchequer, and to lighten our income
Tax by the difference ; while we should be
doing but mere justice to our own manu-
facturers. Mr. GLADSTONE, indeed, told the
house the other night that if the House of
Lords did not pass the Bill repealing the English
duty, the Frenchman and the Englishman would
pay the same duty, and the penny countervailing
duty would cease. Mr. GLADSTONE might wish it
to do so. But, we are mistaken in the House of
Commons, if it will not take whatever steps are
necessary to make its retention certain. He pre-
tended that Excise restrictions and expenses were
not sufficient to justify any extra charge, and that
the treaty permitted no surcharge on foreign articles
compared with English manufactures, except what
was requisite to meet the expenses caused by the
English Excise. Even if the treaty is so worded,
we should urge the House to retain the full present
duty in the teeth of the treaty. The French rag
roguery was not fairly before the house when that
part of the treaty was adjusted, and. it is the duty
of the House to see that our own manufacturers
are not outwitted.
A clamour is raised by the Gladstonites that, to
retain the penny extra duty, is to contravene the
principles of Free-trade. We are older Free-traders
than those who raise the cry, and we beg to tell
them that we do not think Free-trade requires us to
sacrifice our own manufacturers to the competition
of Emperors. If a monarch chooses to back his
Exchequer against any class of honest tradesmen in
his own or in foreign lands, of course no private
capital and industry could withstand him. But
it is at the option of other countries to permit him
to ruin their own subjects. Prohibition of the
export of rags in the paper trade is nothing more
nor less than the bestowment of a bounty on
French paper; and we are not the Free-traders to
wish to desert our own mills, because Monsieur
shrugs his shoulders and offers us paper 25 per
cent. cheaper by the help of his Government.
If he will keep his rags at home, let him
keep his paper at home too. If he will throw his
rag trade open we should feel no compunction in
deserting our own manufacturer, provided the
Frenchman gave us a really cheaper article. Our
manufacturers, however, ask no favour. They
merely say let the French withdraw their prohibi-
tion of the export of rags, and we are ready to meet
them in our own markets and in those of the world.

The Madras Irrigation and Canal Company, to
which we were amongst the first to invite public
attention, is now fairly at work. Nearly half a
million of its capital has already been paid up ; by
far the greater part of it on account of anticipated
calls, and the first part of the works is already
commenced,

The report of the directors we gave yesterday ;
since then we have looked through the reports of
the chief resident engineer alluded to in it, who in
his second general survey was accompanied by a
consulting engineer appointed by the Government.
The sanction of the Government being requisite, the
appointment of Capt. RUNDALL to examine the
district in connection with the company's engineer,
enabled the directors to commence operations very
much sooner than would have been the case had
the Government engineer not reported till the
company's survey was complete. The company's
separate survey would have delayed the works
for double the time. It was the more fortunate
that the Government acceded to the Company's
wish, since, through failure of what the company
is about to provide—water—a distressing famine
impended over the district ; but its large demand for
native labour has enabled the poor natives to sup-
ply themselves with the necessaries of life, while
the Company, of course, found the advantage of an
ample supply of men.
The estimates, both of cost and profits, must be,
as yet, to a certain extent, conjectural; yet there
is no reason to think the amount of the former, in-
tentionally, underrated, or that of the latter over-
rated. It looks, to be sure, something fabulous—
by the outlay of £1,345,000 the company will gain
£425,000, or MI per cent. on their capital ; the
Government will receive, in revenue, £381,500 ;
the profits to native cultivators will be .£1,620,000 ;
altogether somewhat less than 200 per cent. on the
outlay ! These are, it is true, but rough calcula-
tions: Still the Government Consulting Engineer
could have no interest in setting the expected
profits too high. The Government guarantees 5
per cent., and it is after this is deducted that the
Company and the Government are to divide the
golden prize.

We hope and believe that this Company will be
the precursor of the introduction of a vast amount
of English capital and enterprise into India for
similar objects ; and that Government gua-
rantees will soon become superfluous. We
do not desire to see an Indian mania ;
but the scope for irrigation works and
for canals must be very great. Railways have not
in this country superseded carriage by canal, nor
will they in India ; while the canal will always have
a highly profitable use, independent of that of car-
rying to market the produce which its waters have
created. The sale of those waters for irrigation is
a source of profit unknown in England. Even
should carriage be almost monopolised by railways,
irrigation would still pay the companies hand.
somely. In all the calculations, we observe that
this is the chief reliance. Indeed, if railways went
freely into the irrigated districts, we strongly sus-
pect that the water would be too valuable, except
in the rainy season, to be employed in navigation ;
unless, indeed, that were always compatible with
the more important duty of irrigation.
The railways alio present a very hopeful aspect.
But small portions of each line are open at present,
yet the net average profit is more than 51-per cent.,
thus relieving Government from the guaranteed
interest. The aggregate receipts were above
£400,000—and, showing the great need of means
of conveyance in India, the receipts for passengers
were but £137,000 of the total, the remainder were