Already the beneficial effects of Californian gold have been felt over the whole world, and nowhere more strongly than in this country. It is well known that prices of all articles of commerce, except corn and sugar, have risen twenty or thirty per cent within the last year; and the Free-traders consider that as being entirely owing to their measures. If so, it is singular how _corn and sugar_, on which the inundation of Free Trade has been chiefly let in since 1846, should be the _only exceptions_ to the general rise. It is singular what contradictory effects they ascribe to their system: at one time it is lauded to the skies, because it tends to lower prices, and cheapen every article of consumption; at another, because it is said to raise prices, and encourage every branch of industry. Both effects cannot be owing to the same system: to ascribe them both to it is to say that a certain combination of gases produces alternately fire and water. At all events, if Free Trade brings about a rise of prices, what comes of all the arguments which went to recommend it on the score of reducing them? The truth is, however, Free Trade has nothing whatever to do with the recent rise of prices of manufactured articles, nor with the extension of the national exports which has taken place. These happy results, the passing gleam of sunshine, have been entirely owing to other causes, among which Californian gold bears a prominent place. Free Trade has tended only to continue and perpetuate the misery and depression which attended its first introduction. This argument of the increase of our exports last year (1850) having been owing to Free Trade, has been so admirably disposed of by that able and intrepid man to whom the nation is under such obligations for the light he has thrown on these subjects, and the courageous way in which he has everywhere asserted them, in a late public meeting at Rugby, that we cannot do better than quote his words:--