as formerly, is to be taken as evidence of continued agricultural prosperity. During the last nineteen years, the common period of the endurance of a lease, the land in these counties has been so much improved by a liberal expenditure of capital, that a considerable rise of rent was anticipated, and would have been obtained but for the operation of the new commercial measures. Be that as it may, we are assured by the most competent authorities, that since last harvest there has been a general disinclination on the part of farmers to offer for land, except at greatly reduced rates; and we have heard of instances in which the highest offers did not reach two-thirds of the previous rental. We are speaking just now of the best arable land in Scotland. It is commonly and currently stated, and has never yet been contradicted, that elsewhere the depreciation is at least as great. Earl Grey, perhaps, may be able to afford some rather startling instances of the decline of rents in Northumberland. In the cattle-breeding districts of the north and Argyleshire, tenants have almost entirely ceased offering for vacant farms. They consider their occupation gone; and many of the best and most prudent of them are either on their way or preparing to emigrate to America. As for the islands, they are now no better than so many districts of pauperism. Perhaps, however, we are attaching too much importance to this statement by Sir James Graham. So far as we can see, he now stands alone, a solitary believer in agricultural prosperity, whilst every one else has admitted the distress, though differing as to the nature of the remedy, or even denying the propriety of administering a remedy at all. From what is passing in England, we should imagine that the distress among the agricultural classes there is of unexampled severity. We read in the _Times_ of 17th February--the last number which has reached us--a curious account of the South Nottinghamshire election, which has resulted in the return of Mr Barrow. As one paragraph bears directly upon the point which we are now discussing, and as it, moreover, contains a wholesome warning to such landlords throughout the country as have chosen to stand aloof from the tenantry during this momentous struggle, we shall here extract it.