The Sun.
London, England, 1858-10-15 00:00:00

them from the advantage of being allowed to bu,

wisdom by experience, our producers and importers
are to be forced to pay an artificial price for one of
the chief elements upon which their power of work-
ing at a profit and of meeting the competition of
foreign rivals depends. When trade is prostrate on
account of low prices they are to be prevented from
having the means by which they could profitably meet
those low prices, and give employment to all who
depend on them. And these views are so prevalent,
and so regularly assented to in parrot fashion by all
who want to be considered orthodox that many
who have a clear notion of their absurdity do not
care to call them in question, from fear of being
supposed to be in the interests of the speculators
whose object it is to abuse, instead of to use the
opportunities of the period. The tyrannies com-
mitted in the name of liberty have never exceeded
the reckless follies to which men pompously march
under the flag of Prudence.' "
This is, indeed, the truth. There is not a single
sentence that is not applicable to the state of affairs
that existed in November last, and in October,

1847. The final sentence deserves to be written
in letters of gold—" The tyrannies committed in
the name of liberty have never exceeded the
reckless follies to which men pompously march
under the name of Prudence." This is, indeed, the
truth, and should the Times continue in the same
strain we shall hail it as a monetary reformer, a
respected coadjutor in the cause of an efficient
circulating medium. It is true that the opinions
thus ventilated would have been more appropriate
in November, 1857, than in _October, 1858 ; that
the Times would, in promulgating such
views then, have been regarded rather
as the friend and advocate of the
industrial community, than as the organ of the
" hard calculators." Now matters have changed,

but we are entitled to make use of the admission
of the bullionist journal, and to ask what would
be the effect of such explanations and reasoning as
those above quoted, if discount was at ten per cent.

and scarcely to be obtained even at that rate, save
by first-class houses? Would it not be unanimously
proclaimed that " the tyrannies committed in the
name of liberty have never exceeded the reckless
follies to which men pompously march under the
flag of Protection ?"

-
The rate of exchange at Paris presents an appear
mice of renewed firmness.

150,000 sovereigns have been shipped for Con-
stantinople. It is believed that at present the total con-
templated to be remitted thither is £450,000---that is to say,
£300,000 in addition to the sum sent to-day.
The Admiralty. have entered into a new contract
with the African Steamship Company for the conveyance
of the West African mails. Liverpool is to be the port of
departure and arrival of the mails. Goree is to be ad-
mitted as a place of call, Cape Palmas is substituted for
Monrovia, and the three principal mouths of the Niger, the
Benin, the Nun, and the Brass are to be visited. The con-
tract is for seven years, and the payment £30,000 per
annum. The steamers will call at 15 ports, rivers, and
places between Madeira and Cameroons. Cape Palmas, it
is said, is rising rapidly into importance as the head-
quarters of the Kroo tribes, who are employed in large
and increasing numbers on board her Majesty's ships and.
merchant vessels. The Island of Goree is to be one of the.
depots of the new line of French steamers to Brazil,