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duced to the armies of the Potomac and of the Cumberland. Such notes as thesegiving the observations of intelligent eye-witnesses-cannot fail to be interesting to the general reader now, and invaluable to the historian hereafter.

The Forest Arcadia of Northern New York, embracing a view of its Mineral, Agricultural and Timber resources. Boston: Published by T. O. H. P. BURNHAM

1864.

THIS little book, issued from the press of T. O. H. P. BURNHAM, of Boston, does the greatest credit to both author and publisher.

As may be gathered from the title, it is a narrative of sights and incidents, seen and experienced, on visiting that portion of the great wilderness of Northern New York lying in St. Lawrence County, on the Western slope of the Aderondac Mountains The plateau, of which this section is a part, is said to embrace many thousand square miles in extent, to be very fertile, and to have an elevation cf from fifteen hundred to eighteen hundred feet above the sea. A country thus favored, watered by the Grass and Oswegatctin Rivers, following by circuitous windings the stratification of the country, studded with numerous lakes and ponds, adding a beauty of their own to the silent wildness of the place, could not fail to draw out the enthusiasm of the ardent lover of nature. Such an one the author seems to be, and it is not wonderful, there fore, that he should be inspired by his subject, and that his impressions and thoughts should well out with freshness, vigor and beauty. Thus, in his pleasant way, he gives us an account of the movements of himself and party from place to place, the little incidents occuring, together with much valuable information respecting the resources and attractions of the district visited, thoroughly innoculating the reader with his enthusiasm. The book will well repay one for reading it.

The publisher, also, deserves great credit for the beautiful style in which the book is issued: the paper is excellent (tinted), the type clear, and the binding extremely neat.

The Destiny of Our Country. By CHARLES P. KIRKLAND, of New York. Published by ANSON D. F. RANDOLPH, 770 Broadway.

THIS address is not precisely what its title would indicate, but rather an examination into the causes, probable issue, and effects of the present rebelion, and was delivered before the Alumni of Hamilton College at their last commencement.

Mr. KIRKLAND is a very able writer, full of enthusiasm, and particularly so on all subjects connected with the war. Whatever he writes, therefore, is of decided interest whether one agrees with his conclusions or not. Just how or why this war was be gun and what will be its end, are questions upon which there must be different opinions; and yet all will be glad to see the views presented in this address, knowing that they are the earnest convictions of one who has the true interests of his country at heart.

1. The First Three Books of Zenophon's Anabasis, with Explanatory Notes, Vocabulary, Maps, etc. By JAMES R. BOISE, Professor in the University of Michigan. D. APPLETON & Co., 443 and 445 Broadway.

2. Progressive Lessons in Greek, with Notes, Vocabulary, and Epitome of Greek Grammar for the Use of Beginners. By WILLIAM B. SILBU, A. M., New York Free Academy. D. APPLETON & Co.

THE above edition of Zenophon's Anabasis has many excellent features to recommend

it to the student and teacher. The map which is given showing the rout of the ten thousand Greeks, the very full notes and excellent vocabulary at the end of the volume are certainly extremely important aids, making the edition a truly valuable one. To the younger student and the beginner of whatever age, the "Progressive Lessons in Greek" will prove very acceptable. Great care appears to have been used in the arrangement, so that with this little book, one might by his own unaided efforts make great progress in the study of the Greek.

1. An Elementary Arithmetic. By G. P. QUACKENBOS, A. M. D. APPLETON & Co. New York.

2. First Book in English Grammar. By G. P. QUACKENBOS, A. M. D. APPLETON & Co.

THESE books are intended for children, and have been very favorably received. The Arithmetic is an agreeable combination of Slate exercises and mental operations

THE MERCHANTS' MAGAZINE AND COMMERCIAL REVIEW.

CONTENTS OF No. IV., VOL. LI.

VOLUME II.

OCTOBER, 1864.

NUMBER IV.

ART.

I.

THE NATIONAL DEBT AND NATIONAL RESOURCES.....

II. THE COMMERCIAL PROGRESS AND RESOURCES OF CENTRAL BRITISH

AMERICA. [Continued from Page 192.].....

III. THE SANDWICH ISLANDS. No. IV.-KILAUEA.

By H. B. A...........

PAGE

...... 257

262 273

IV. COMMERCIAL LAW No. 15. THE STATUTE OF LIMITATIONS..

279

V. ON THE ACTION OF OIL-WELLS. BY PROF. E. W. EVANS, MARIETTA COLLEGE... 283

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Breadstuffs.-Exports to Great Britain and Ireland and the Continent from the United States

and Canada......

313

New York City and County Resources, Debt, Sinking Fund, etc.....

314

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Income and Expenditures of Great Britain and Ireland for the year ending June 30, 1864..

330

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THE

MERCHANTS' MAGAZINE

AND

COMMERCIAL REVIEW.

DECEMBER, 1864.

THE FRANCO-ITALIAN CONVENTION.

T. M. J.

THE uncertainty, which has of late years hung over the fate of the Italian peninsular, seems now about to disappear; and that nation, uniting most of its scattered fragments under the rule of one sovereign, takes its stand among the great powers of the world. To be sure every thing is not as we would have wished. Regrets may indeed arise when we consider that the Austrians yet hold Venetia, and that, under the provisions of the Franco-Italian Convention, the Pope is still to reign at Rome. Yet to the commercial world the now independent existance of Italy is a fact of great importance, and we will rejoice in what has been done, hoping that the future will accomplish the rest.

The treaty agreed upon between France and Italy, concerning the settlement of the Papal States, and the withdrawal of the French from Rome, has not yet been published; but enough has been made known through the semi-official organs to satisfy our curiosity on many important points. It seems that the Emperor NAPOLEON has consented to yield to the wish of the Italians, and to the pressure brought to bear on him in their favor, so far as to consent to a removal of the Roman French army. He seems now to acknowledge the strength of the new nation, and the increasing development of its popular support, and to acquiesce, therefore, in the withdrawal of his soldiers, provided Italy will at the same time agree to respect the independent temporal power of the Pope. He does not, it is true, perhaps, as a Catholic sovereign, he cannot-consent openly to abandon the Holy Father and leave his temporal dominions to be swallowed up by the augmented power of the Italian king; but he can and has refused any longer to uphold "the obstinate aggressiveness of the Papal policy." In his letter to M. THOUVENAL in May, 1862, he expressed his conviction that the Pope's temporal jurisdiction should be maintained, and that Italy would certainly act wisely, were she to acknowledge it as a political ne

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cessity. By such a course Italy would free herself from the imputation of maintaining an anti-Catholic resistence to the holy see," and the Pope,” said he, "brought to a reasonable view of the state of affairs, would understand the necessity of accepting everything which can bind him to Italy." At the time this letter was written there seemed to be no probability that either party would come to terms. The Pope would not treat with Italy, and Italy would not respect a sovereign, who refused to acknowledge her political existence. But now the state of affairs has somewhat changed. The Italian Government, looking soberly, and we think wisely, at the real state of the case, appears to have determined to accept matters as they are, and take what it can get. By the articles of the treaty the French Emperor, as we have said, engages to withdraw his troops from Rome. He does not, however, agree to do this at once, but by degrees, in order that the Pope may fill up his ranks from foreigners of any nation, which Italy is to allow him to do. He is, however, to evacuate entirely within two years. Italy, on the other hand, is to acknowledge the temForal power of the Pope and to respect his frontier, and, as a pledge of sincerity, she is to give up all idea of Rome, and to fix her capital elsewhere.

The advantages to be derived by Italy, if she accepts these terms, are great indeed, and hardly to be over estimated. No country so much as she needs a long period of peace, in which to secure herself from domestic disturbance, to develop her strength, cement her union, and to restore her finances to a healthy condition. To form a union of different States, which have been independent for centuries, and not always friendly, is not to be accomplished in a day. It requires time to consolidate the various discordant interests, and to overthrow long standing and deep seated prejudices. This certainly has not yet been more than partially accomplished. It will require years of constant intercourse among the people to knit together firmly and securely the broken fragments of dissevered Italy. In any great political change, which a nation may undergo, those are always found who cling with the strongest tenacity to the manners and customs of the past, and it requires much more than mere outward demonstrations of popular enthusiasm to wear off the obtruding corners of party opposition. When the noisy hurrah of popular feeling gives way to the sober earnestness, which is to carry out the dictates of patriotism, then the voice of the adherent to the old ideas will be heard, and it becomes the province of the statesman to calm rather than subdue such opposition, and to gain over to his own side the men who were powerful under the old regéme. A fatal mistake is too often made in this particular, and this is, we fear, the mistake of Italy. The Piedmontese are a narrow and stiff-necked people. They love to rule, but do not always rule the best. Instead of casting out merely the upholders of an Austrian tyranny, and allowing each State to be governed, (as far as possible,) by its own people, they have superseded those already in power, and have sought out local eminences, to be enjoyed by the stranger rather than the native. Thus the men, who were prominent in Naples, Florence, and Milan, suddenly become of no importance in Italy, and as they were the representatives of a powerful party, the opposition has become extreme. Probably the Italian Government, necessarily turning most of its attention to foreign deplomacy and a centralization of its newly acquired powers,

has been unable to give much attention to the minor concerns of local interest. In order to accomplish this a long period of perfect peace is necessary; a period when the popular mind can look forward to a settled future, and when the Government, withdrawing its attention from foreign war, can apply itself to the task of removing the irritation at home.

But Italy, moreover, needs time to develop her resources, to reduce her expenditure, and to place her finances on a firmer and surer basis. The miserable petty governments, which formerly held the country, were ill calculated to render her industry and commerce as productive as they might have been. Ruling with the iron rod of tyranny, they destroyed the productiveness of almost every pursuit. The native energy and industry of man, if left to itself, even unaided by governmental support, but, at the same time, untrammeled by governmental opposition, will develop the hidden resources of a country, increase the revenue, and so maintain the credit. A man will continue that occupation, which he finds to be to his pecuniary advantage; but when, from overtaxation, governmental oppression, or any other cause, it ceases to be productive, he will cease to work, and from that moment he becomes a burden, a source of weakness to the country--he ceases to work but continues to consume.

Unfortunately the petty princes, who formerly ruled in Italy, pursued the short sighted policy of weak tyrants. Hated by the people, and maintained in power by the bayonets of a foreign potentate, they had but few interests in common with the country they ruled over. Whether the wealth of the community increased or not was a matter which seemed to them of minor concern. As long as they were comfortable, and had foreign soldiers enough to keep down the people, their ambition was satisfied. Of course if they had been wise enough to have studied their subjects interests they would have found them to have been identical with their own. Had they endeavored to build up an extensive and flourishing trade, and protected agricultural pursuits, they would have obtained the good will of their people and the respect of the world, and never have suffered the disgrace of such a rapid and ignominious flight. Still their acts are of the past, but the consequences of those acts must long be felt by the country.

Every one who has traveled in the peninsular has seen in part the results of this past policy, in the almost endless multitudes of beggars one continually meets there. The stranger is constantly beset by hideous specimens of deformity asking charity, or by some one whose appearance would indicate, that he should be far above it. Indeed, begging has become quite a respectable profession in Italy, and a deformed leg, a broken bone, or a putrifying sore, from which any sensitive man would turn away in disgust, is regarded as the very height of good fortune, and is used as so much stock in trade. It has been said, that some of the brilliant lights, who have adorned this very creditable calling, have actually suffered their flesh to be lacerated, in order that the artificial wound might be used to extort money from unwary travelers.

Such are the consequences of a policy, that does not allow labor to be productive. Then, too, that immense system of superstition by which the people have been oppressed, is one of enormous expense, and remarkably well calculated to eat out the very vitals of the country. It has been said, that in Italy every tenth man is a priest; we think we would

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