landed property may prevail in the differ. on to escape being devoured. In France ent nations of Europe, it is an incontest- we have seen interests fall upon the railable truth that Europe will more and ways, and under pretence of getting their more have its granaries beyond its bound produce carried cheaply, try to destroy all aries. Where shall we place them? With lihat France had spent so many years in the help of France, and by means of the establishing, viz., the administration of a highway of the Suez Canal, England can network of railways, which has been little place them in India.

by litile organized and extended, without It is not possible to foresee the extent of causing any crisis in the circulation of the extraordinarily favorable changes in capital, but giving a considerable inpulse the current of business in England, in the to the industry and commerce of the naposition of the banks, in the abundance tion. Those very persons who did the of capital, and in the rate of interest, most to excite the cupidity of private in. which would be the consequence of an terests have been brought to acknowledge importation of wheat arriving in Europe that they had let loose a wild beast withfrom India instead of America. If in the out keeping further watch on it. Frenchcourse of one year — an epoch of which a men ask whether the excitement which glimpse may be caught before the end of has arisen in the matter of the Suez Canal, ihe century

we wiinessed a change run- extraordinary as it seems to simple spec. ning through the currents of trade which tators, had not some analogy with the should bring about a displacement of movement and agitation about the ques. twenty millions sterling, only transferred tion of the French railways which filed from the commerce of America to that of five sterile years with their useless fury India, we should see the happiest conse and impolitic distrust. The comparison quences issue from it, to the profit of En. has not failed to suggest to men's minds gland and the advantage of France. the probable issue of a discussion which France, with its habit of using, and liking will pass through many plases, but which, for silver,- identical with the habit and no one doubts, will end as the dispute be. liking of India, - having a monetary cur-tween the assailants and the defenders of rency which can form the reservoir of the the railway companies ended in France. Indian currency,

reciprocally in the Is it intended to oust M. de Lesseps from best situation, thanks to the Suez Canal, the legitimate fruits of his labors, in order to develop' Anglo-Indian or Indo-Euro. to give English commerce the advantage pean commerce in rice or in corn. The of taxing itself at a low rate in the transit Suez Canal has created a community of of its vessels through the Suez Canal ? interests between France and England, - That is exactly the question that was interests moral, commercial, and social, asked in France. Were the railway comwhich must always be considered and panies to be pillaged of the legitimate appreciated at their full value, which fruits of their efforts, and to be ejected in ought to be extended, and which must order to give to those who gained the never be sacrificed to a paroxysm of ego- power of transporting their produce the tism, or speculation, or even simply of bad right to fix the tariff? If the question had temper.

continued to be stated in these terms, the The phases of the discussion between result would have been to tie with our the English government and M. de Les own hands a Gordian knot which could seps are very instructive. They possess not be unravelled except by the sword. a degree of animation that has surprised Could it be supposed that the sword, that public opinion in France. The question violence, that the English sword, - that is asked, whether the name of France, is to say, English violence, — would cut which casis so brilliant a light over the an intricacy of right and commerce, at the canal company, was not in some respects risk of simultaneously wounding with that aimed at by the shortsighted adversaries blade not only France, but that which is of the grand doctrine of the Anglo. French greater than France, eternal justice ? alliance. Why should so much frenzy be It has often been observed that men do displayed in a question where frenzy is for others what they would not care to do unnecessary, save to secure the triuinplı for themselves, and that they act as interof right and justice? A great French-mediaries or agents with less scruple than man, M. Thiers, said that interests are on their own account. England cannot ferocious; and another great statesman, present such a spectacle. That which a great Englishman, said that public opin- she would not do herseif she cannot do jon was

sometimes like a wild beast, under an assumed name; and if she bas which the government should keep an eye the right to dispose of the khedive's sig. nature, she will not put it to any acts by of the canal, if the traffic render it neces. procuration, save upon the saine terms sary; just as she required the French upon which she would have given her own railway companies to double their lines signature. There is but one way out of when it became necessary, in order to satthe entanglement; namely, to follow the isfy the demands of commerce. paths of justice and reason. England is It is true that in France, and even in the most important of M. de Lesseps' the Parliament, certain persons demanded partners in the enterprise of the canal; that the doubling the lines should be she ought to seek out and determine effected by competition, and even by comequitably the share which legitimately be petition on the part of the State, and that longs to her in the administration of the a new railway should be constructed and business. A share in the joint control worked by the side of the existing road; cannot be refused to a government who is but this idea was very quickly abandoned; a shareholder to such an extent. But we first, because it was not equitable, and, know that the power of the members in secondly, because it could not possibly be general council is not measured by the profitable. It has been found more pracnumber of votes; there is a moral influ- ticable, much more in conformity with ence which depends upon the weight of general interests, and at the same time the speaker. There are always two influ. more respectful towards vested rights, to ential voices at the councils of the Suez come to an agreement with the railway Canal Company; first, that of M. de Les companies, in order to oblige them to give seps, a French voice, which France is the iraffic that satisfaction which its de. pleased to know is listened to, and which velopment demanded. cannot be stilled without wronging and In the Isthmus of Suez, the question is wounding the country which saw his birth. much more simple. There may not be a But there is also the voice of England, rep. monopoly in writing, but there is, neverresented by eminent men, who not only are theless, a natural inonopoly. How can it always heard with deference, but whose be imagined that the object of the conces. counsels meet with attention, because they sion was any other than to put the two are the representatives of a great govern- seas in communication? The founders ment, and because they exercise their could not be expected to run the risks of rights with an authority ihat no one con- such an enterprise without yielding them tests. The legitimate influence of En- a right to take tolls from those who pass gland in the administration of the Suez from one sea to the other. To deprive Canal will consequently always receive them subsequently of the product of these due consideration.

tolls by supporting a rival scheme, and But if England is the most important of | by joining the two seas in some other way, the partners, she is also the most impor. would be to withdraw with one hand what tant of the clients, as she makes use of has been given with the other. Perhaps the canal in a much greater proportion several canals may be possible; but the than all the rest of the world together. idea of establishing communication be. That is a reason for her watching over tween the two seas is a simple one, and it the company in order to be sure that it is exactly that which M. de Lesseps has treats its clients with moderation ; but it maintained from the first, notwithstanding

; certainly is not one for obtaining from the doubts of the English engineers, and the coinpany special treatment for her which he bas at last realized at the cost of own countrymen. France, whose vessels a considerable outlay of capital. are much less numerous, does not attach It is this idea alone that was the object any less importance than England to the of the enterprise, and the tolls, the charge point that the conditions of transit should on passengers, and the transit tariff conbe easy, and that the tariffs should be as ceded to M. de Lesseps, were its price. low as possible. From this point of view Without violating the laws of justice, it is there cannot be any divergence between impossible to hand over to others the English and French interests. It is a profits which would not have existed if M. general question, and if it fall to the de Lesseps had not formulated his idea, French government to solve it, it will if after conceiving it he had not given it a do so with as much independence, and body, — profits which belong to it, profits with as much regard for maritime com- of which it certainly can be despoiled by merce, as would the English government force because force can do everything, itself. France, quite as much as England, but which cannot be taken away save by is interested in the traffic being satisfied. the cominission of deeds absolutely con. She demands, like England, the doubling | trary to that high sense of right which England has had the glory to spread not less real, of lightening the charges throughout the world. Only a few days which weigh upon its maritime commerce ago, a French orator, speaking from the in consequence of the dues of the Suez senatorial tribune of the French repub- Canal, and that is to take and to apply to lic, quoted these memorable words of the its budget a portion of the nett profits of English historian and philosopher, David the company. The English government Hume: “Our fleets, our budget, our already makes a profit in interest on the army, Parliament, all these are only to as- capital invested in the purchase of the one sure a single end, - the liberty of the hundred and seventy-six thousand shares twelve great judges of England.'

of which it has become the holder; it I will add, that if England holds in the receives five per cent. interest on a capital world the dominant position which legiti. for which it only pays three per cent., mately belongs to her on the surface of every year gaining the difference. That the globe, if she is respected and feared, is, in reality, a sort of reduction of the if she is dreaded and honored, if she has transit dues in favor of the English peoallies willing to advance with her in the ple. When the deferred coupons of the path of civilization, and to give her their shares which it holds are available, its support without fear as without jealousy, profit will be much increased. If it sees but with a noble feeling of confidence, it fit, it will be able, by means of that profit, is because England, freely governed by a to reduce those imposts which press upon conscientious public opinion, knows how commerce. to place right above might, and has learnt But all these questions are matters of to provide herself with institutions which detail in which France and England have are a mixture of monarchism and repub- an equal interest; they may give rise to licanism, whereof the mainspring, accord- discussions more or less prolonged, but ing to Montesquieu, should be honor and they have nothing to do with politics. virtue.

There is but one political aspect of the The respect for contracts is the foun- matter; it is the maintenance of a comdation of parlimentary governments, and pany which, French by origin, is English the English Parliament can do everything as much as French in its interests, and but make an injustice legitimate. If the which has the right to be treated conEnglish government, as a partner in and formably with justice. A day will come as a patron of the most numerous clients when it will be possible on both sides of of the enterprise, can demand that every the Channel to judge with greater calm. extension rendered necessary by the ness the political situation of the two traffic should be given to the means of nations, as regards the affairs of Egypt. communication between the two seas, it When that day arrives, whatever direction is its duty equally to introduce into the events may meanwhile have taken, there tariffs every amendment compatible with will without doubt be perfect accord as to the maintenance of the financial position the inconveniences consequent upon the of the company. It is also quite right in suppression of Anglo-French action in demanding a revision of tariffs which Egypt. History never remakes what it were established in view of an infinitely has once destroyed; certainly we shall smaller traffic than that which has been never again see the condominium, the attained during the last few years. The dual control, nor any of those combina. most simple method which has been found tions which have had their use, but which of proportioning the tariffs to the busi- are condemned to-day, and which it is ness, is the participation by the clients in difficult to defend, because they have one the profits of which they are themselves great defect — that is, that they are dead the source. Assurance companies and and cannot be revived. But what we co-operative societies have largely adopted shall see again is an accord between the this course, and we might follow them. views of France and those of England as Nothing is more natural than to make a to the affairs of Egypt, and in the arrange. scale of reductions of tariffs so as to ment of all questions concerning the Suez apply a portion of the profits realized to Canal. England has need of the moral the benefit of the vessels which traverse support of France. There is more sym. the canal. Arrangements of this nature pathy possible between the Egyptian peoare very simple, and quite legitimate, and ple and the French than between the provided that they are established with former and the Anglo-Saxon race. moderation they cannot be otherwise than This moral infuence the French cao acceptable. For England especially there exercise in the civil administration, in is another method, indirect it is true, but industry, and in commerce, and exercise

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From All The Year Round.

it to the advantage of all Europe. The English pony in a little village cart with influence of the English governinent will a little retinue of “bowl dowgs ” disport. lose nothing thereby; and if some day ing beneath. But he owned that even England finds it useful to modify her this occupation did not redeem his counaction, she will be happy to find at her try life from weariness and ennui. Cus. side France with her perpetual influence tom prescribed that he should visit his in Egypt, by reason of the traditions of estates as soon as the grand prix had her history and the devotion of the col- been run; but a fortnight on his estate ony of that nation to the interests of generally gave him a surfeit of the counEgypt, so as to be able to seek in common try. And yet he felt that it ought not to the solution most favorable to the so. The pure, tranquil life of the tenance of Western influence in the East, country he appreciated, and would be and to the development of the amicable willing to share with a congenial spirit. relations between two great powers, who Ah, if he could find such a dne! Some sometimes in the press utter very hard young English girl, perhaps – he had a words of each other, but who speedily peculiar tendresse for the English girl. return to sentiments of cordial friendship She must be beautiful, rich, accomplished, and sincere alliance as soon as they have and at the same time tender and loving regained, together with their sang.froid, to a degree to put a man out of his senses; a clear view of their moral, political, and and, above all, she must never have loved commercial interests. LEON SAY. before.

The count confided these sentiments to us inen, as we smoked after dinner on the lawn beneath a pure, deep, star-lit

sky. Our director pronounced these ideas ALONG THE SILVER STREAK.

to be impracticable. He too confessed

that in his own youth he had dreamt of PART IV.

marrying some young English mees, fair The director and his wife, and we as as an angel, and of a wealth to enable their friends, were received with the hiin to follow his cherished pursuits with. greatest possible cordiality by M. de St. out ignoble cares. But the event bad Pol, who insisted upon taking us all to falsified his anticipations. He had indeed dinner at his château close by, an im- encountered more than one mees with mense building that seemed half deserted, wonderful personal charms, but always with great iron gates, and ferns growing with nothing or next to nothing in the out of the interstices of the brickwork; way of dot. Others had been pointed and with great gardens and conservato- out to him undoubtedly rich, but with bad ries not absolutely neglected, but showing complexions or otherwise not correspond. almost the wildness of nature. But the ing to the ideal belle Anglaise. And as parts inhabited were very scrupulously for the first bloom of the affections, he kept and charmingly cool, with shining, had it on the authority of the greatest polished floors, and everything studiously English novelists that the little mees be. arranged in careless ease.

gan her love-affairs before she had given Ma foi, vive Valognes pour le rôti!” up her doll, say at twelve years old, or cries the marquis in Lesage's comedy of perhaps even earlier. Turcaret; an exclamation we might very There was just enough truth in this well have echoed looking to the excellent last assertion to make both Tom and mya dinner provided by M. de St. Pol. The self a little angry with the director, and count was Anglophile in everything, even the count artfully took our side, though it in the cuisine. As a delicate compliment was easy to see that he was trying to to Hilda, no doubt, was the "côtelette pump Master Tom a little on the subject d'agneau à la belle Anglaise,”and equally of his cousin Hilda. For De St. Pol was for the squire's benefit, no doubt, the enthusiastic on the subject of English gosberi pie au John Bowl.” The same marriages arranged on a basis of pure spirit pervaded the whole establishment. affection, and of the virtue and fidelity of The horses were English, and English the English demoiselle, who, not conient also the stud-groom. English "bowl like the average French girl with the dowgs" snuffed about the legs of visitors, husband presented to her by her parents, and infused a terror speedily allayed by will live a celibate life for years till she their pleasing affability. Our friend's meets with a fitting object for her virginal chief delight in his country life, it pres- devotion. ently appeared, was to drive a fast-trotting “How's that?” cried Tom doubtfully,

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looking at me as if I were the umpire in / approached, and began to examine the the match. But just at this moment, sav. border of her apron in a manner suggesing us from further discussion, came the tive of coquettish confusion. sound of a piano from the salon, and the Justine,” I said in a low voice, " you clear, rich voice of Hilda singing some will take a little note from me to madeEnglish ballad; so we rose and left the moiselle - a little note of two lines director in possession of the field, in pos. that she may read it before she sleeps ? session, too, of the battery of liqueur But Justine, perhaps resenting a little bottles, of which every now and then he that she should be considered only as a mixed and tasted a dose, on principles of channel of communication with her mis. science and hygiene.

tress, received my overtures in a temper The count was in his right as host to quite unexpected. hang about the piano as he did, asking “I, monsieur !” she cried, her eyes first for one song and then another, but it Aashing fire, “ I carry billets to my mis. was irritating to see that Hilda received tress, who is confided to me by your coun. all his attentions very graciously, turning tryman, to whom she is bound by vow's upon him all the full powers of her lovely alinost sacred! Never, monsieur !” And dark eyes, and throwing herself into the with that Justine darted off, her nose conexchange of compliments and badinage temptuously in the air. with light-hearted appreciation. There And then another window opened on was nothing in her now suggesting the the opposite side of the courtyard, and love-lorn damsel! Surely both Mrs. madame la directrice appeared, wrapped Murch and Justine must have been com- in a white peignoir, and combing back her pletely deceived as to her having any long hair. Then she leant upon the win. after thoughts or regrets ! Once or twice, dow.sill

, looking up at the stars, and sigbed indeed, I found her eyes resting upon me, gently. Presently, her eyes attracted by with a grave kind of scrutiny; but for the glowing tip of my cigar, she acknowl. the rest, she so persistently evaded all eclged my presence gracefully. Yes, it my attempts to gain a word with her, that was a heavenly night, a night on which in vexation I began to devote myself one would like to fly about like the moths. exclusively to madame la directrice - Stéphanie !" at this moment cried the devotion that was not ill-rewarded, for be manly voice of the director, who appeared neath the little artificialities of the French in his shirt-sleeves with a shawl in his woman there was evidence of a charming, hands, “Stéphanie, my child, be careful candid soul, full of sympathy and appre. of thiy throat." And he wrapped her up ciation for all phases of human life. with quite parental solicitude.

Madame, too, sang very feelingly, al- And then there was a new arrival, which though not with Hilda's power and exe- brought the landlord to the door in a cution. It was my turn now to hang over discontented spirit. Indeed, the appear. the piano and beg for songs, and I was ance of the new-comers, although highly delighted to see a flash of anger and picturesque, was hardly reassuring to the scorn in Hilda's dark eyes. Yet still she strictly commercial appreciation of an inn. was engrossed with the count, and it was keeper. First of all came two men, brown impossible for anybody else to come near and dusty, with great leathern wallets over her. It was just the same, too, as we their shoulders, and ragged garments, drove home ihrough the pleasant per. adjusted with a certain careless grace. In fumed night, the bean-flowers filling the the rear marched a couple of Pyrenean air with sweetness, and the more subtle sheep with long curly horns and long scent of the roses clinging to everything. curly brown wool, with an air rather as if Not a word could I get with Hilda, who they were driving the men than being retired to her room at once on reaching driven by them, while absolutely last was the hotel.

a pretty, gipsy-looking girl of thirteen or And then, as I walked up and down so, in a short skirt, with bare brown legs the courtyard, I watched the light shining and feet, and a tambourine thrown over in her window - - a light that brought out her shoulders. The men wanted a lodg. into faint relief the old gateway and tow. ing for the night - a stable or something er, while the quaint outlines of the twin of the kind for themselves and their spires of the church rose dark against companions. the sky. Justine, her light labors finished The landlord looked at them suspi. for the day, was standing in the doorway ciously. below, humming to herself her favorite “ Three francs,” he said, holding out his "Sur le bord de l'eau.” She ceased as I palın for the money.

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