K. Michel Chevalier has supplied an article to the Journal
des Debats further expounding the intent and scope of the Emperor's economic policy. The Emperor in his letter mentions two means by which the old prohibitive and sluggish system is to be turned round—more rapid means of transit,, and an extension of credit.
"To these two levers," says M. Chevalier, "is added a third, of which the Imperial letter does not make mention, but for which, it is known, the sympathy of the Emperor has been obtained,—professional instruction. There is no doubt that this will equally receive a new impulse, and nothing could be more opportune. For in the industrial arts, as everywhere else, it is intelligence which gives the man his value, in whatever rank he may be placed. From the point of view of mere muscular strength, are we not the inferiors of beasts, and still more of those machines such as the genius of man has in our day arrived at constructing ? "
The Paris correspondent of the Times says that "the Treaty of Com- merce with England will be signed before the present week is out. Lord Cowley has returned to Paris with full powers to do so, and there only remains some minor details to complete that most important act. The Emperor is, as you are aware, bound by engagement till July 1861, in favour of the French manufacturers ; but it is said that the treaty will take effect in England forthwith, though not in France for eighteen months to come." The Paris correspondent of the Morning Chronicle remarks that "the general bases will be as follows :—On the side of France, suppression of prohibitions, and diminution of the duties on coal and iron. On the part of England, reduction of the duty on wine, spi- rits, articles de Paris, and silks."
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