Many circumstances concur to render the Panama route infinitely preferable to any other. In the first place, the shortest distance has to be traversed. From Milford Haven to Sydney by this route is only 12,440 miles, the whole of which, with the exception of 45 miles, is by sea. By the present Peninsular and Oriental Company’s route, _via_ Swan River and Cape Leeuwin, from Southampton the distance is 12,855 miles, of which 238 have to be performed between Alexandria and Suez by canal, by the Nile, and across the desert. By the same Company’s route _via_ Torres Straits, the distance is 13,095 miles, with the same overland journey to make from Alexandria to Suez. We can only get our mails from Australia by either of these routes in sixty days, by the very costly express from Marseilles. The General Screw Company’s route, by way of the Cape of Good Hope, Madras, and Point de Galle, is enormously circuitous; and the same Company’s new route, without touching at the Cape, is 12,837 miles. There is another serious disadvantage connected with the eastward voyage. From the Cape to Australia the weather is generally boisterous, with variable winds; and in passing the equinoctial line, ships have to encounter calms, and can derive no aid from carrying canvass. The loss of that aid is a serious matter to screw steamers, in a voyage where economy in the article of fuel is so desirable. From Great Britain to Navy Bay, on the other hand, is usually a run in which canvass can be advantageously used, whilst the run from Panama to Australia is through pleasant weather for the entire distance, the Pacific fully justifying the propriety of its appellation. Of course, a company working the Panama route effectively, with superior vessels, and carrying regular mails, must be subsidised by the British Government. Our colonists themselves would gladly lend their aid by grants out of their own public revenue. In fact, the province of New South Wales has recently advertised its willingness to give a bonus of £6000 sterling to any company which will bring the postal distance between England and Melbourne to sixty days each way. The Australian Direct Company, however, anticipate a good profit on their undertaking, irrespective of remuneration in the form of a subsidy for carrying the mails, as will be perceived from the following extract from their prospectus, published last year:—