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Actual averages of the eighteen cotton crops from 1924 to lS41:

 lst 6 years.I2d years lsd years

 No. ofbalesI No. of bales No. of bales Atlantic States, 433,o0oI 522,00ci 5290 Gulf States, 253 OOO O4oo0 I 03e 0oo

 According to the rate and ratio here evolved, the Gulf crop of lS42, the last in market, should not fall short of 1,600,O00 bales: its actual amount was over 100000 If we attempt to calculate the resources of this re- zion, or to estimate its growing and future commercial importance, we shall not be able to assign any limits thereto, except those of demand and supply. When the first hand tul of American cotton arrived in England half century ago, could it have entered into the mind of Adam Smith, or of the most gifted seer that has ever indulged his fancy

 in visions of political economy, to conceive that the fleecy cargo which was then seen coming over the sea, was destined to spread itself, in little while, like Ahab's cloud, over the realms of commerce and to make the broad ocean white with ships and with trade? So requisite and indispensable has this article now become in our domestic economy, that we of the present day cannot well conceive wherewith man was comforta- bly clothed before he used cotton as raiment As It's growth and consumption in times past have bafiied all calculations, so they may in times to come. To others, but not to us, belongs the task of interpreting and expound- ing those laws of trade by which it's future increase is to be regulated, and the ultimate bounds set to its uses. But as for the re- sources of this cotton region, and its cape cttaes of supply, there appear to US to be no limits which fancy in its widest range may reach. If we takea bale as the average yield of an acre of ground, the statistics of the last census show that the whole quantity of land planted down and cultivated in cotton. throughout all the Southern and Western States, would not, if brought near and thrown altogether into one broad plantation, equal the tenth part of the State of Mississippi alone

 In the actual enjoyment of such trade, and with such prospects of commercial gran deur and agricultural wealth before them, with the voice of a troubled sea, and the noise of its waves as they dash upon the shore, continually to remind them of naked and defenceless coast and of the dangers to which their commerce is exposed, with the living picture of helpless and unprotected merchantmen reflected from the still waters of their harbors for daily contemplation, why should the people of the South and West longer hold their peace?

 That the means of coast defence and naval protection at the South should have been con sidered of little or no importance to the na- ton at large thirty years ago is not surpri- sing; for then the quantity of Southern and Western produce that was sent by sea to market was comparatively of but little value The cultivation of cotton was then in it's in- fancy, and the resources of the country were neither developed nor understood But now, by yremaning inactive upon the subject, South ern and Western statesmen would be neither loyal to ther country, true to themselves, nor faithful over the important trusts handed down to them for their own political we'll being and for the benefit of succeeding gene rations. One of the great objects of our ia thers ill the Federal compact was mutual de- fence of the States, protection in life, liberty, and property to those among us s.who go down to the sea in ships and do business upon the great waters.' For this we have twice been at war; for this harbors are for tihed and armed cruisers commissioned to roam the ocean; 1t was for this that a navy was created and is maintained, and under the spirit of ths~it is that we claim for the South means sufficient for protection and de- fence, or at least equal to those afforded to the North.

 In 1880 there was no direct commercial fnt hofx British possessions in the West Indies. The proclamation of that year opened the ports of those islands to our agricultural produce, from which has sprung up trade of four or five millions a year, chiefly with Southern and Western produce as basis; the corn trade from New Orleans alone amounting to two or three millions of bushels. Since then the crown dutes* upon Western pork and lard have been remitted by an act of Parliament, and they may now be import ed into the English West Indies subject only i to colonial duties This and other circum- stances have given fresh impulse to the lard trade, which is a new business, just started up within the last year or two, through New Orleans, and bids fair in short time to rival the whale fshery1 in value; armed | cruisers are sent round the world to give protection to this latter in every sea, for it is l Northern interest, and as Southerners it is our pride and boast that it should be so pro ected; but as for the safe conduct of the | tormer and all the commercial wealth of the | regions whence 1t comes, nothing has been ione to secure a safe passage for 1t in war, even as far as the ocean. The whaling in- f crest is not more at the mercy of an enemy lpon the shores of Japan than are the market ships of the South and West in the Straits of Florida.

 Almost every year witnesses the introduc-

 Cfoaon Duties. They are now merely nominal E

 I Riual Me Whale Fishery. The receipts of lard t New Orleans for the year ending lst September, s4s, were eight hundred and sixty thousand kegs whereas the exports of this article for the year end ng lst September, ls40, did not amount to one