6 FEBRUARY 1892, Page 1

The new French Tariff came into force on Sunday evening,

and already a great rise is noted in the price of the provisions sold in cities, especially meat and cheap wine. It is believed that the resulting discontent may produce dangerous consequences, the Socialists all arguing, what is quite true, that the whole benefit of Protection goes to the man who possesses something, while most of the burden is borne by the man who has only a daily wage. We have said enough on this strange attempt to " blockade France from within " elsewhere, but must add here that a widespread contraction of business must soon occur, and will affect even the financial market in Paris. It is already in difficulties, owing to the great losses of the last two years, and makes its difficulties generally felt, the weaker houses forcing unpopular securities into the market. That is the chief explanation of the slow decline in the value of all second-rate securities, which is producing so much dismay and suffering among the less rich classes of investors. They say nothing, but they are hit nearly as severely as English landlords have been, who also say nothing. A new misfortune just now, say a genuine alarm of war, would produce a true " crash" in Paris,