The trade of Australasia, Argentina, and Uruguay, and the Cape is based chiefly on wool and hides. The imports of these countries, numbering but eleven million inhabitants, amount to $440,000,000, equaling in amount the trade of China, Japan, Persia, and India, with their seven hundred and fifty million inhabitants. Though but 1.2 per cent of the population of the world (outside of Europe and the United States), their imports are 27.8 per cent of the totals of the figures in the tables. In exports they do about $400,000,000, or 24.9 per cent of the total sum of exports here given. It would be worth cultivating friendly relations with them. They are inhabited by people of European stock, and come nearer to the standard of life of Americans than any of the other nations of the globe. Our latest effort to draw them closer to us was the Dingley tariff, with its duty of eleven cents a pound on greasy wool and of fifteen per cent on raw hides. The action can not be construed as a very friendly one. But neither is the effect as calculated by the wise heads who insisted on the provisions of the wool tariff, the woolen and worsted manufacturers of the East, and the wool raisers of the West. The wool and woolen trade of America has suffered many vicissitudes during the thirty-five years of high tariffs. It has gone through many periods of depression. But it is doubtful whether at any time more disastrous conditions existed than have marked the twelve months ending at this writing (March, 1899). The situation can be appreciated from the fact that wool, imported prior to the passing of the Dingley tariff, is being reshipped to England, where it is bringing better prices than can be obtained here under the ægis of the protective duty of eleven cents a pound. Three and a half million pounds were shipped in the seven months ending January 31st. We should profit by this experience, try to cultivate friendly relations in parts of the world where advantageous trade connections can be established, instead of following the _ignis fatuus_ of Asiatic expansion. THE INTERPRETATION OF NATURE. BY EDMUND NOBLE.