The Sun.
London, England, 1860-01-20 00:00:00

JANUARY 20, 1860.

tions paralyse almost everything. Tha most fecund ideas
of the Governnient itself are smothered or impeded by regu-
lations. As one example of this truth among recent events
let us take draining. The admirable effects of draining hav-
ing been well established, the Emperor solemnly announced
one day that 100,000,000 f. would be lent to agriculture to
promote drainage. But regulations intervened, and the
idea of the Chief of the State became a dead letter. In
proof of this, ask what is the amount of the advances made
on account of the 100,000,000 f."

The writer also directs attention to the fact, that
although the importation of machines for agricultural
purposes and of tools has been strongly favoured by
the Emperor, the severity of the Customs' regula-
tions has completely neutralized the boon. The
duty, which ought to be about 15 per cent. in the
usual course of things, is raised by the exigencies of
the Customs' formalities to not less, in many cases,
than 100 per cent: To struggle against such a
system would be nothing but a waste of time, and
some sweeping change, like that proposed by the
Emperor, could alone remedy the evil. On the
approaching abolition of the prohibitive system the
writer remarks in these terms :
" A part of the Imperial letter which seems destined to
produce a great sensation, and which has already drawn
forth general eulogium, is that which announces the fall so
impatiently expected of the prohibitive system, which, in
France, obtained proportions of which the annals of the
whole world do not offer another example. It will not be
one of the least strange episodes in the history of our times
in the eyes of posterity, that this system, inaugurated
during a furious war, and with a formal assurance that it
should not survive peace, has been able to prolong its exist-
ence for nearly half a century after peace hat shed on
nations its fertilising rays. It subsists entire in 1860, in
spite of our desire to abolish it, caused by the example .of
the nations surrounding us. A coalition of private interests,
which displayed prodigious activity in its hostility to the
public welfare, succeeded in imposing on all Governments
the maintenance of this retrograde institution, with its
escort of such violent measures, unworthy of a civilised age,
as confiscation, domiciliary visits, and search of the per-
son."

As to the period at which prohibition will cease
in France, M. Chevalier observes that, as the Im-
perial promise has been given, that it should not be
brought to a close before the month of July, 1861,
no doubt can exist that until then it will be main-
tained in all its plenitude.
THE BOURSE, Jan. 19.—Market dull, but prices
steady. Threes have been done at 68f. 75c., to 68f.
85c. ; Mobilier 767 f. 50c. to 770 f. ; Austrian, 535 f. ;
Lombard, 535 f. ; Lyons, 918 f. 75c. to 920 f.;
Orleans, 1,385 f. to 1,387 f. 50c. ; Western, 582 f.
50c. 535 f. ; Southern, 507 f. 50c. to 510 f. The fol-
lowing were the last quotations:-
4i- per Cents. .... 97 50 Credit Foncier 730
Do. end month .. 97 35 Belgian 41 99
3 per Cents 6B 80 Piedmonteso (5) .. 84 75
Do. end month 6B 80 Roman Bl 75
Bank Shares 2825 Austrian
Credit Mobilier 770 Spanish Threes
Do. Account 770 Home Debt 43 25