perpetual peace--these are the two great elements which our Manchester lawgivers think are to change the face of civilised Europe. Most truly does Mr Laing declare, that ingenuity could not have devised two principles more hostile to each other in their very nature, and more irreconcilable in the past history of the world, than those which Mr Cobden and his followers have selected as the twin pillars of their new social system. "If Mr Cobden be right in considering this social state (the universal diffusion of property in land) pacific in its elements and tendencies, all political economy, as well as all history, must be wrong!"--(P. 110.) No state can be pacific, no state can be secure, in which there is not an intervening class between those who govern and those who are governed--a class who shall, as our author says, act "like the buffers and ballast waggons of a railway train," and prevent those violent jerks and concussions which shake the machine of government to pieces; and the existence of such a class is excluded by the very notion of peasant proprietorship. The truth is, there are two, and only two, kinds of government compatible with the territorial system of France, and her law of succession. These are, an absolute democracy on the one hand, and military despotism on the other--the tyranny of one man or of millions; and between these two polar points of the political compass, her destinies have been vibrating for the last half century. Let us turn our view once more homewards. We have frequently and earnestly endeavoured to impress upon the public that the accumulation of property, real as well as movable, into vast and unwieldy masses, has gone too far in our own land. We have consistently opposed that policy which tends to give capital an undue and factitious influence, and, in its precipitate zeal to stimulate production, overlooks all other interests. But we cannot deceive ourselves with the imagination, that peasant proprietorship is the specific antidote to these evils. Pleasing as such Arcadian visions may be to the speculative man, who turns away in weariness and perplexity from the struggle of discordant and competing interests, no one surely can believe that they can possibly be realised here, or that the cultivation of the land by peasant owners can ever become a normal and permanent element in our social condition. The ingenious reasonings of Mr Mill and Mr Thornton seem to establish nothing more than that such a state is compatible with good agriculture, and with that contentment which Mandeville calls "the bane of industry;" and that nations, like young couples in the honeymoon-- "Though very poor, may still be very blest."