tual exportation
and importation of commodities, at a low _ad valorem_ duty. The
Opposition made great head against it in the House of Commons, but it
was finally carried by a majority of 76. Curiously enough, the treaty
was negotiated by Mr. Eden, who had held the office of Vice-Treasurer of
Ireland under the Coalition, and who was the first person to break away
from that heterogeneous confederacy, and ally himself with Mr. Pitt. His
defection was the more memorable from the fact, that the Coalition is
said to have originated with him; at all events, he divides the credit
of the project with Mr. Burke. Distinguished by his zeal and activity,
Mr. Eden was soon afterwards raised to the peerage, under the title of
Baron Auckland.

While this reciprocity treaty was in progress, the finances of France
were reduced to such a state of derangement by a system of corruption
and profligate expenditure, as to call for some strong and universal
measure of redemption. The famous Convention of Notables was the
remedial project suggested by that able but speculative financier, M. de
Calonne, who had succeeded M. Necker as Minister of Finance. This
assembly, by royal authority, of all the considerable persons in the
kingdom, excited some curiosity in England. What was thought of it in
the ministerial circles may be gathered from a passage in a letter from
Mr. W. W. Grenville to Lord Buckingham, dated the 8th of January.

A resolution has been taken by the French Government, and
declared by the King in his council, which occasions a good deal
of speculation. It is no less than the calling an Assemblee
generale, who are to consist of archbishops, bishops, nobles,
and deputies from the different parliaments, &c., to the number
of one hundred and fifty-nine. They are to meet at Versailles, I
think in the course of next month. It is not yet declared what
is to be proposed to them. But I think it probable that they
will be to deliberate on two great plans which the Government
have in contemplation; one for abolishing all the internal
custom-houses, and the other for reducing all the import duties
universally to duties from 12 per cent to 1/4 per cent, _ad
valorem_ according to certain classes. Besides this, it is
probable that the state of their finances is such as to require
very strong measures, both to provide for the existing debt, and
to make up any deficiencies arisin