These markets, in fact, have taken, during the past year, one-sixteenth of our entire exports of plain calicoes, and one-eleventh of our exports of printed and dyed calicoes, whilst her imports of yarn—the article upon the production of which in this country the least amount of labour is expended—have been comparatively insignificant. The imports of cotton goods into Russia are, on the contrary, almost entirely confined to yarn for the consumption of the Russian manufacturer. So far, therefore, as our export trade is likely to be affected during the coming struggle, we have manifestly got by the hands a more valuable customer than we are likely to lose in Russia; and we cannot discover in what way, with the means at present at her disposal, she can interrupt, or limit, that trade further than by destroying for a time the consuming power of those provinces of Turkey east of the river Pruth, which she has occupied with her troops. Our shipowners and manufacturers may lose for a time some portion of the valuable trade with the population of Wallachia and Moldavia which is carried on through the ports of Galatz and Ibrail upon the Danube. It will probably, however, be one of the earliest aims of the combined powers of England and France to clear that portion of Turkey of the presence of the invader, and to maintain the long-established inviolability of the two eastern mouths of the Danube—the St George’s and Sulina—as outlets for her commerce with neutral countries. The remainder of our trade with Turkey must remain impervious to the efforts of Russia, unless her fleet, at present shut up in Sebastopol, first achieve the exploit of destroying, or capturing, the magnificent navies which England and France have assembled in the Black Sea, or her Baltic fleet succeeds in forcing its passage through the Cattegat or the Sound, and in making its way to the shores of the Mediterranean. Neither of these contingencies can be regarded as very likely to be realised by Russia in the face of the superior power which will shortly be arrayed against her.