We have next, taking Mr Cobden's rule of practice, about £.50,000 actual military expenditure in St Helena, to which add reserve in England, and a total of about £.70,000 is arrived at; which cannot be placed to colonial account as for colonial purposes, since the island is purely a military and refreshment station for vessels _en route_ for China, India, and the seas circumflowing; and foreign trade, therefore, as much concerned in the guilt of its expense as colonial traffic. The amount of charge, therefore, although remaining to be deducted from the colonial head, may be left as a neutral indeterminate item. But the military expenses for Singapore, Penang, and Malacca, about £.80,000, cannot be for colonial account at all, because stations merely for carrying on foreign trade, against which chargeable, with the civil establishments as well, whether in whole or in part, paid by the East India Company or not. Returning westward, we have the Bay of Honduras with a military establishment, including reserve as _per_ Cobden, expending about £.50,000, which ranges for the far greater part within the category of the cost attending foreign trade. Then, on the West African slave-trading coast, we have Sierra Leone, with a military expenditure, actual and contingent, of about £.25,000. There are the Cape Coast Castle, Acera, Fernando Po, and other small African settlements besides, which cannot cost less, in military occupation, than some few thousands a-year, say only £.10,000, all for foreign trade, since colonization and production are _nil_; and with Sierra Leone, they are only kept, or were established, for the purpose of suppressing the trade in slaves, and promoting a foreign trade in that quarter of Africa. Coming to Europe we have Heligoland, a rock in the North Sea, which, as only costing something more than £.1000 per annum on foreign trade account, we may leave out of question. Now, without pretending on the present occasion to make up and offer an approximate estimate of the proportion of army expenditure charged against the colonies by Mr Cobden, which should be set down either to political account, as arising from the possession and maintenance of outposts necessary for defensive or defensively aggressive purposes, in case of, or for the prevention of foreign war, or for the protection and encouragement of foreign trade, in which a right large portion of the military expenditure for Jamaica, Nova Scotia, the Bahamas, Bermuda, &c., may be regarded, we shall content ourselves with reducing his wholesale estimate of colonial army charge by the materials antecedently furnished. The reductions will stand thus, premising that in respect of Singapore, Penang, and Malacca, we have not the means of ascertaining what proportion of the charge falls upon the national treasury, as part is borne by the East India Company. Of one fact there can, however, be no doubt; namely, that nearly the whole of that charge is incurred for the support and