At present, the question of restoring the canal is solely connected with the Indian trade. We own we have very great doubts whether its re-establishment, if destined only to connect our lines of steam-packets from India to Suez, and from Southampton to Alexandria, would be found a profitable speculation. The tedious navigation of the Red Sea, and, we may almost add, of the Mediterranean, would render the route by the Cape preferable for sailing vessels; and we have not yet arrived at such perfection in the construction of steamers, as to contemplate their becoming the only vessels employed in the Indian trade. It appears to us, that before any reasonable hope of restoring the canal can be entertained, or, at least, before it can ever be kept open with profit, that Egypt must be again in a condition to employ the irrigable land on the banks of the canal for agricultural purposes. Unless the country be flourishing, the population increasing, and the canal constantly employed, it would be half-filled with the sand of the desert every year. On the other hand, as soon as a demand for more irrigable land is created by an augmented population, a canal of irrigation would soon be carried through the valley of Seba Biar; and the surplus produce of the Delta would again seek for a market on the shores of the Red Sea and in Arabia. Until these things happen, even should a canal be excavated, whether from Cairo to Suez, or from Suez to Tineh, during some pecuniary plethora in the city, we venture to predict that the Suez canal shares, or Mohammedan bonds, will be as disreputable a security as honest Jonathan's American repudiated stock, or the Greek bonds of King Otho not countersigned by Great Britain. We cannot close this article without alluding to two able pamphlets, which have been recently published, recommending the formation of a canal from Suez to Tineh, as that line might be kept always open, from the elevation of the Red Sea above the Mediterranean.[1] The subject has been ably treated by the French engineers in the great work on Egypt, and Monsieur Linant has since examined the question; but the information we possess on the effect of the currents and winds at Tineh, is not sufficient to enable any engineer to decide on the works which would be necessary to enable ships to enter the canal in bad weather. It is clear that a bar would immediately be formed; and almost as certain that any break-water but a floating one would soon be joined to the continent by a neck of sand. If it be possible to form any part at this point on the Egyptian coast, it could only be done at an enormous cost; and our information is at present too imperfect to warrant our entering on the subject. The question requires a more profound scientific examination than it has yet undergone.