According to the best authorities, the whole of the West African coast north of Sierra Leone might be ceded with advantage to the French on condition of our occupying the Gaboon and the regions, coast and islands, south of it, except where the land belongs to the Portuguese and the Spaniards. Some years ago an energetic effort was made to effect the exchange, but it was frustrated by missionary and sentimental considerations. Those who opposed the idea shuddered at the thought of making over to a Romanist Power (?) the poor converts of Protestantism; the peoples who had been peaceful and happy so long under the protecting aegis of Great Britain; the races whom we were bound, by an unwritten contract, not only to defend, but to civilise, to advance in the paths of progress. The colonists feared to part with the old effete possession, lest the French should oppose, as they have done in Senegal, all foreign industry--in fact, 'seal up' the Gambia. A highly respectable merchant, the late Mr. Brown, contributed not a little, by his persuasive pen, to defeat the proposed measure. And now it is to be feared that we have heard the last of this matter; our rivals have found out the high value of their once despised equatorial colony. If ever the exchange comes again to be discussed, I hope that we shall secure by treaty or purchase an exclusively British occupation of Grand Bassam and the Assini valley, mere prolongations of our Protectorate on the Gold Coast. A future page will show the reason why our imperial policy requires the measure. At present both stations are occupied by French houses or companies, who will claim indemnification, and who can in justice demand it.