26 DECEMBER 1868, Page 2

Admiral George Grey is a brave man. He has ventured

to publish a letter in the Times advocating a cession of Gibraltar to the Spaniards, they offering us Ceuta in exchange. Gibraltar, he says, is of no use in time of war either for coaling, refitting, or refuge, the only safe anchorage being commanded from innumer- able points, while in time of peace it would be as useful in Spanish hands as it is now. Ceuta, on the other hand, might be made a valuable harbour, and, moreover, could be attacked only by sea, a great point in its favour. The great temptation of Spain to join the enemies of Great Britain in any war would then be removed, and a grand act of justice done to an advancing people. Admiral Grey forgets to answer one argument, which will, we suspect, weigh with Mr. Gladstone. As surely as we get Ceuta, so surely will a great Moorish territory accrete to us, till our frontier runs side by side with that of French Algeria.