We fancy the Siam difficulty is a little exaggerated. The
French always want to get cash for their jobbers out of a dependency—witness the Tunis loan business—and their Special Commissioner in Siam, M. le Myre de Tillers, is trying to get a preferential treaty of commerce from the Siamese, and an exclusive right of exploiting the two provinces which the French hope to annex. The English in Bangkok and Singa- pore are, of course, fin-ions, and telegraph home that he is trying to make of Siam a Protectorate. That the diplomatist is trying to get something out of Siam which may lessen the burden Tonquin inflicts upon the Treastiry, is very probable indeed, and may on points require resistance, lest Singapore suffer ; but we rather doubt the Protectorate. The French are pledged up to their lips to respect the indepenie ace of Siam ; and the Chinese are displaying symptoms of slow irritation at their conduct, which the Paris Foreign Office will not despise. They know that a serious quarrel with China would overthrow any possible Government M. Carxtot could get together. Sir E. Grey, when speaking on this subject on Thursday, evidently expected nothing of the first importance, but made the im- portant remark that Lord Dufferin would be back in Paris this week.
