This being the case, of what value are the tables of export? They are valuable simply as showing that the manufacturers _must_ export what cannot be used at home, unless they choose at once to shut up their mills, and square their accounts with the banking establishments which have given them credit--a process which, in nine cases out of ten, would lead to most unpleasant results. As to the imports upon which so much stress has been laid, let the importers of Liverpool, Glasgow, and Bristol, tell us what they have made of their speculations for the last couple of years. We sympathise, most deeply, with the valuable class of men who have so suffered. They were not the originators of the system which has proved so fearfully hostile to their interests; and we firmly believe that, in giving their support and countenance to it, they were not actuated by any selfish motive. Their mistake was this--that they believed the effect of the Free-Trade measures would be to extend the foreign market of Britain, and greatly to increase its value. They contemplated a reciprocity which has not taken place, and which never can be established, unless the governments of other states fail in their duty to their own people. And here we may remark that nothing can be more odious than the spite and rancour exhibited by the Free-Traders towards the states which have not reciprocated. If the views of some of their organs were to be carried into effect, this miserable lack of liberality would be made a _casus belli_, and we are not quite certain that some members of the Peace Congress would object to such a declaration. These gentlemen have no idea that any kind of manufacture, which can at all interfere with their own, ought to be permitted abroad. Since America has established her own cotton-factories, and applied herself to the working of her own mines, she has lost an amazing hold of the affections of Manchester. Sorry are we to say that Mr Cobden now seldom wafts his sighs across the Atlantic, and that apparently he has abandoned his scheme of rivetting together the valley of the Mississippi and Manchester "with hooks of steel." The smoke of an American factory is excessively nauseous to his nostrils. John Bright has ceased to take any active interest in Pennsylvania. He opines that it has denied the faith according to _his_ principles of brotherhood; and it may be that the charge is well founded. We hope our Transatlantic friends are prepared to stand the fearful consequences. Terrible as has been the denunciation of the Manchester men, launched against Russia, Austria, and every other non-reciprocating state of Europe which has made head against British calico, the Americans must expect a fuller volley of tenfold wrath for their unprincipled tergiversation. According to the views of Manchester, a Free-trading despotism is to be preferred to a Protectionist republic. Liberty is estimated according to the return which it brings, not to the children