Agathos.-Look down into the abys mal distances!-attempt to force the gaze down the multitudinous vistas of the stars, as we sweep slowly through them thus-and thus and thus! Even the keen spiritual vision, is it not at all points arrested by the continuous golden walls of the universe ?-the walls of the myriads of the shining bodies that mere number has appeared to blend into unity? Oinos.-I clearly perceive that the infinity of matter is no dream. Agathos.-There are no dreams in Aidenn-but it is here whispered that, of this infinity of matter, the sole purpose is to afford infinite springs, at which the soul may allay the thirst to know which is for ever unquenchable within it since to quench it would be to extinguish the soul's self. Question me then, my Oinos, freely and without fear. Come! we will leave to the left the loud harmony of the Pleiades, and swoop outward from the throne into the starry meadows beyond Orion, where, for pansies and violets, and heart's-ease, are the beds of the triplicate and triple-tinted suns. Oinos. And now, Agathos, as we proceed, instruct me! speak to me in the earth's familiar tones! I understood not what you hinted to me, just now, of the modes or of the methods of what, during mortality, we were accustomed to call Creation. Do you mean to say that the Creator is not God? Agathos. I mean to say that the Deity does not create. Oinos.-Explain! Agathos.-In the beginning only, he created. The seeming creatures which are now, throughout the universe, so perpetually springing into being, can only be considered as the mediate or indirect, not as the direct or immediate results of the Divine creative power. Oinos.-Among men, my Agathos, this idea would be considered heretical in the extreme. Agathos.-Among angels, my Oinos, it is seen to be simply true. Oinos.-I can comprehend you thus far-that certain operations of what we term Nature, or the natural laws, will, under certain conditions, give rise to that which has all the appearance of creation. Shortly before the final overthrow of the earth, there were, I well remember, many very successful experiments in what some philosophers were weak enough to denominate the creation of animalculæ. Agathos.-The cases of which you speak were, in fact, instances of the secondary creation-and of the only species of creation which has ever been, since the first word spoke into exist ence the first law. Oinos. Are not the starry worlds that, from the abyss of nonentity, burst hourly forth into the heavens-are not these stars, Agathos, the immediate handiwork of the King? Agathos.-Let me endeavor, my Oinos, to lead you, step by step, to the conception I intend. You are well aware that, as no thought can perish, so no act is without infinite result. We moved our hands, for example, when we were dwellers on the earth, and, in so doing, we gave vibration to the atmosphere which engirdled it. This vibration was indefinitely extended, till it gave impulse to every particle of the earth's air, which thenceforward, and for ever, was actuated by the one movement of the hand. This fact the mathematicians of our globe well knew. They made the special effects, indeed, wrought in the fluid by special impulses, the subject of exact calculation-so that it became easy to determine in what precise period an impulse of given extent would engirdle the orb, and impress (for ever) every atom of the atmosphere circumambient. Retrograding, they found no difficulty, from a given effect, under given conditions, in determining the value of the original impulse. Now the mathematicians who saw that the results of any given impulse were absolutely endless-and who saw that a portion of these results were accurately traceable through the agency of algebraic analysis—who saw, too, the facility of the retrogradation-these men saw, at the same time, that this species of analysis itself, had within itself a capacity for indefinite progress-that there were no bounds conceivable to its advancement and applicability, except within the intellect of him who advanced or applied it. But at this point our mathematicians paused. Oinos-And why, Agathos, should they have proceeded? Agathos.-Because there were some considerations of deep interest, beyond. It was deducible from what they knew, that to a being of infinite understanding to one whom the perfection of the al Oinos.-Then all motion, of whatever nature, creates. Agathos. It must but a true philosophy has long taught that the source of all motion is thought—and the source of all thought isOinos.-God. Agathos.-I have spoken to you, Oinos, as to a child of the fair Earth which lately perished-of impulses upon the atmosphere of the Earth. Oinos.-You did. Agathos. And while I thus spoke, did there not cross your mind some thought of the physical power of words? Is not every word an impulse on the air? gebraic analysis lay unfolded-there impulses upon the ether-which, since could be no difficulty in tracing every it pervades, and alone pervades all impulse given the air-and the ether space, is thus the great medium of through the air-to the remotest conse- creation. quences at any even infinitely remote epoch of time. It is indeed demonstrable that every such impulse given the air must, in the end, impress every individual thing that exists within the universe; and the being of infinite understanding the being whom we have imagined-might trace the remote undulations of the impulse-trace them upward and onward in their influences upon all particles of all matter-upward and onward for ever in their modifications of old forms-or in other words, in their creation of new-until he found them reflected-unimpressive at last back from the throne of the Godhead. And not only could such a being do this, but at any epoch, should a given result be afforded him-should one of these numberless nebula, for example, be presented to his inspection, he could have no difficulty in determining, by the analytic retrogradation, to what original impulse it was due. This power of retrogradation in its absolute fulness and perfection-this faculty of referring at all epochs, all effects to all causes-is of course the prerogative of the Deity alone-but in every variety of degree, short of the absolute perfection, is the power itself exercised by the whole host of the Angelic Intelligences. Oinos.-But you speak merely of impulses upon the air. Agathos.-In speaking of the air, I referred only to the earth-but the general proposition has reference to Oinos.-But why, Agathos, do you weep ?-and why-oh why do your wings droop as we hover above this fair star-which is the greenest and yet most terrible of all we have encountered in our flight? Its brilliant flowers look like a faery dream-but its fierce volcanoes like the passions of a turbulent heart. Agathos.-They are!- they are! This wild star-it is now three centuries since with clasped hand, and with streaming eyes at the feet of my beloved I spoke it-with a few passionate sentences-into birth! Its brilliant flowers are the dearest of all unfulfilled dreams, and its raging volcanoes are the passions of the most turbulent and unhallowed of hearts. MONTHLY FINANCIAL AND COMMERCIAL ARTICLE. SINCE the date of our last, the markets have been affected to a very great extent by political causes, growing out of our relations with Mexico, and the unexpected manner in which remarks, relative to Oregon, contained in the inaugural of the President of the United States, were received in Parliament. The movement in England seemed to have been entirely the effect of misapprehension, and of an undignified jumping at a conclusion by the rulers of England. Succeeding advices from this side of the water, showing no excitement here on the subject, operated powerfully to allay the uneasiness which had been created. The funds which had fallen recovered themselves, and cotton, which had risen, again declined. The movement of the great staple is quite as good a barometer for the political atmosphere as are the funds, because its importance to the welfare of the British people is greater even than the price of stocks. A fall in the value of government securities, consequent upon a war, does not, as long as the interest continues to be paid, affect individuals materially. But a rise in cotton, consequent upon a war, is indicative of the fearful fact, that the supply of an article indispensable to the livelihood of 1,500,000 inhabitants of the British Islands, is about to be cut off. The decline in the nominal price of the funds, or the repudiation of the whole debt, would affect directly less than onefourth the number of persons who would be ruined by losing their supply of cotton. Thus the number of persons who own the British debt has officially been reported at 279,751, and the number of Το those who labor on cotton is 1,500,000, while the produce of that labor employs an immense number of shopkeepers, merchants, brokers, traders, &c., who would lose their business by a cessation of the manufacture, consequent upon a long war with the United States. In order to estimate the extent to which this influence has increased since the last war, we have compiled from Parliamentary tables the following statement of the exports of cotton goods to each part of the world at different periods, with the weight of cotton bought of the United States, and the value of the exported goods. France, 1815. 91,038 1820. 1828. 1840. 9,329 5,791,860 75,240 12,528,471 1,314,279 Sweden and Norway, Prussia, Denmark, 15,270 144,544 3,206 841,406 21,839,275 32,341,384 32,101,884 Total (yards N. of Europe), 51,845.398 70,494,563 65,278,571 71,811,071 71,229,715 98,318,459 185,103,503 163,459,182 325,977,148 488,805,581 533,522,063 787,651,360 Total of exported yards, 236,949,901 233,953,745 391,255,719 560,616,652 604,751,778 885,969,819 These aggregates will compare as follows, distinguishing the North of Europe from the rest of the world. 1828 65,278,571 325,977,148 391,255,719 39,802,894 10,702,857 50,505,751 16,130,584 225,713,403 1840 71,811,071 488,805,381 560,616,652 73,632,845 36,700,439 110,333,284 24,668,618 592,965,504 1842 71,229,715 533,522,063 604,751,778 97,210,589 41,299,205 138,509,794 21,662,850 477,717,632 1844 98,318,459 787,651,360 885,969,219 81,386,719 48,446,233 132,832,952 25,831,586 558,015,248 These figures indicate the growth of an immense branch of industry in the British Islands, dependent entirely upon the United States for its maintenance. The increased exports of goods to the north of Europe up to 1842 amounted to but 5 per cent. of the whole increase of exports. This was far less owing to the extension of manufactures on the Continent, than to the fact that England bought but little of the products of those sections. Hence her sales could not in crease. In 1838-39, however, two causes began to operate in favor of an extension of trade in that direction. These were the formation of the Zollverein, which, by consolidating the business of 18 German states, gave a great impulse to the consumption of goods. The removal of internal restrictions upon trade not only produced a greater increase in the demand for German products, but also those of foreign origin. This disposition to increased intercourse was fur ther promoted by the fact that in 1838 the short harvests of England compelled her to buy agricultural produce of Europe. This business progressed as follows: Up to 1838 this trade scarcely existed, and it began in 1838-9 by large purchases, which necessarily were paid for in money. Such a trade could not however continue. Its first effect was to drain England of coin, and by so doing to reduce prices to an exceedingly low level. From that time goods took the place of the precious metals in the payment of the continued large import of grain, and the trade continued on the healthy basis of a mutual exchange of the produce of industry. Now it appears that among the goods taken by the North of Europe in payment for her grain were an increase per annum of 27,000,000 yards of cotton cloth, from 1842 to 1844. England has reached a point where her wants of grain exceed her own means of supply, and she is dependent upon Europe for the deficit, and to pay for that surplus, cotton forms an important item. Thus increasing to a great degree her dependence upon the United States for that article. The consideration of these facts, which have all come into existence since the last war, places the idea of a rupture between the two countries at a great distance, more especially when the risk of a short harvest is taken into the account. The commercial community on both sides of the water have a firm dependence on this mutual interest in the preservation of peace throughout the world. A dependence which has grown up with international intercourse in spite of the restrictions adopted by governments for some fancied good that may be derived from them. While this positive dependence of England upon Quarter ending Sept. 30, 1843 Dec. 31, 66 Mar. 31, 1844 foreign commerce and the trade of her citizens, has served to ensure the confidence of mercantile men in both hemispheres, in the continuance of a good understanding, in the face of the little display of the English ministry, the absence of such a state of things in the Republic of Mexico has manifestly enhanced the danger of ill-advised movements on the part of that country. An indolent, uneducated, non-commercial and passionate people, ruled by ambitious military men, are not to be restrained by principles either of philanthropy or commerce when induced by the sophistry of interested parties to believe that they have been wronged. These considerations have given greater influence to the Mexican question, and it has lain heavily upon the markets for many weeks. Towards the close of the month, however, the apprehensions subsided, as successive arrivals from that quarter gave no advice of any strong popular movement on the subject, and rather a moderate tone in the Mexican Congress. Apart from these political questions the general state of commercial affairs has improved. The imports have been much less this spring than last, while the advance in the general articles of farm produce has given greater means to the farmer to pay up, and the excess of payments being largely in favor of the city, the returns of the New York Banks show an increase of specie on hand over the February returns. The general progress of business down to April 1st is evinced in the following table of United States revenues: QUARTERLY REVENUES OF THE UNITED STATES. Customs. .... 6,132,272 Lands. 388,870 7,675,366 449,333 105,254 929,831 9,159,785 The customs revenues for the quarter ending March 31st this year are about 20 per cent. less than for the corresponding quarter of last year, and the receipts which have accrued at the New York and Boston Custom Houses, thus far, show that the customs for the quarter closing with the fiscal year June 30, will be less than during the same quarter of last year, in the same ratio, or equal to a diminution of $3,300,000 in the customs for the last half of the fiscal year 1845. This represents a diminution of $10,000,000 in the amount of dutiable goods imported-an important item in the demand for sterling bills at a season of the year when the supply is usually the smallest. From causes, also, which we indicated in our last number, the exports of United States produce are considerably increased, affording an improved supply of bills of a general nature, while the price of cotton continues firm, notwithstanding that the receipts of the article at all the ports are now in excess of any former year, and that the crop of 1844-5 will prove the largest ever yet sent to market. All these are elements in the maintenance of a healthy condition of the exchanges for the coming year, if they do not induce a renewed import of the precious metals. By a healthy state of exchanges we mean their repose at a point so near the actual par as not to permit either an import or an export of coin. A derangement of commercial intercourse is indicated as much by excessive imports of specie as by its export, although the former movement is looked upon generally with popular favor. The trade of nations is essentially one of barter, and wherever large movements of coin are observable the fact is indicative only of a state of things unfavorable to commerce. Another circumstance, of a nature not only favorable to the exchanges, but also indicative of strong confidence in high quarters, of an uninterrupted intercourse between this country and England, as well as of a returning faith in the honor of our State governments, has been the consummation of the longpending negotiation for the Illinois loan of $1,600,000 for the completion of the canal of that State. In our April number we gave a synopsis of the law then just passed in amendment of the original law. It appears that some doubts were entertained as to the manner in which that law would be received by the London creditor, in as much as that it was not such, in all its terms, as they required as the condition of the loan. The return of the steamer, however, brought its confirmation, even amidst the Oregon panic which prevailed in London. When we consider that two of the members of the principal subscribing houses are members of the present government of England, the fact of the loan is indicative of no very warlike intentions. In accordance with the law, therefore, Governor Ford issued a proclamation for an election for trustees, to be held on the 27th May, in New York city, under the direction of a United States District Judge. The first instalment of the funds will be immediately drawn for, and the work progress under the direction of the trustees. The work will undoubtedly greatly promote the settlement of Illinois, and contribute largely to the development of her resources. Thus the general surface of affairs presents an increase of prosperity which has been delayed in the last two years only by the fitful action of laws, Federal and State, with their consequences. The violent vacillations of the foreign trade presented in the tables of customs receipts were the undoubted results of commercial legislation of Congress, which, by imposing sudden and onerous burdens on imports, caused the trade in 1843 to be less than in any year since the war; and, as a consequence, money to become very abundant. This surplus of money, acting upon a scarcity of goods, produced unusual imports in 1844, and a reaction is taking place in this year. We have in former numbers alluded to the embarrassments and failures that grew out of the extreme depression of agricultural produce last year, and the probability that advancing prices would remedy the evil. The pernicious system of creating false money by the issue of bank notes, has been the means of promoting speculation, and has led to the failure of the Bank of St. Clair, Michigan, involving the discredit of four other banks, three in Ohio-concerns which, from their fatal privilege of issuing promises to circulate as money, have formed a nucleus of speculative ramifications, the failure of which involves severe losses and great distress among the innocent holders of the mis |