Peace was most ardently desired by all the contending Powers, and its attainment was marked by sincerity and cool discussion. America foresaw a disorganized army and impoverished resources, while France and Spain, feeling their quickly decaying finances, most cordially united to accelerate the happy event. The decisive battle of the 12th of April, and their signal repulse from Gibraltar, had also due weight in the scale of consideration and expediency. Amidst the awful storm, Britain began to emerge, by degrees, from under the heavy cloud which had long overcast her political horizon, and to reclaim her ancient seat amongst the nations. Every subordinate occasion that called forth her Naval energies, seemed to display a spirit worthy of the brightest periods of her Maritime glory. However delicate the topic, I am still induced to notice the reiterated instances of baneful mutiny in our Fleet, during this year of returning tranquillity. It is a lamentable truth that examples of indiscipline were as common as they were successful, and to the plan of compromise which was _then_ pursued, may be traced, in part, that predilection for revolt which agitated the minds of our Seamen during the late contest--crimes, for which their unparalleled achievements have amply atoned to their Country, but such as never can find a palliative within their own breasts, or an extenuation from any pen that is guided by an impartial impulse. The demonstrations of loyalty and zeal, in every Marine Detachment, during this turbulent era, although not realized by deeds, still evinced a readiness to seal them with their lives, in the support of good order. These fatal means which were used to appease the spirit, hushed his murmurs indeed, but they invigorated the growth of the untamed monster. After the various and meritorious services of the Marine corps, during two successive wars, at a time when their loyal zeal was conspicuous to their Country, when their utility and subordination were in every mouth, a heavy reduction in its establishment took place. It was with equal surprize, and general regret, that this faithful body of men became limited to 4495, and to 70 companies, with a parsimonious allowance of Field Officers. Such a popular branch of the public force was evidently small for supplying the ships of war in commission, and for the important duties of guarding our naval arsenals. But as the judicious policy of the present day, has adopted a more liberal and patriotic system respecting the corps of Marines, I deem myself precluded from that range of comment upon the method of anterior times, which I should have otherwise felt an authority to claim. Another vindictive conflict occurred in the East, but without any important consequences; in which Sir Edward Hughes, as hitherto, nobly maintained the honor of the British flag, against Admiral Suffrein and superior numbers. The sound of peace soon after reached their ears, and closed all their differences.