One day he met us, with a face beaming with smiles, and said, "I can explain and justify that new theory of yours. This oppression and exaction of skill and capital which we see continually practiced, and which is too natural to man ever to cease, is necessary in order to disperse and diffuse population over the globe. Half the good lands of the world are unappropriated and invite settlement and cultivation. Most men who choose can become proprietors by change of residence. They are too much crowded in many countries, and exploitation that disperses them is a blessing. It will be time enough to discuss your theory of the despotism of skill and capital, when all the world is densely settled, and the men without property can no longer escape from the exactions of those who hold property." Our friend's theory is certainly ingenious and novel, and goes far to prove that exploitation is not an unmitigated evil. Under exceptional circumstances, its good effects on human happiness and well-being, may greatly over-balance its evil influences. Such, probably, is the case at the North. There, free competition, and the consequent oppressions of skill and capital are fiercer and more active than in any other country. But in forty-eight hours, laborers may escape to the West, and become proprietors. It is a blessing to them to be thus expelled, and a blessing to those who expel them. The emigration to the West rids the East of a surplus population, and enriches it by the interchanges of trade and commerce which the emigration immediately begets. As an exceptional form of society, we begin to think that at the North highly useful. It will continue to be good and useful until the North-west is peopled. Then, and not till then, it will be time for Mr. Greely to build phalansteries, and for Gerrit Smith to divide all the lands. We find that we shall have to defend the North as well as the South against the assaults of the abolitionist--still, we cannot abate a jot or tittle of our theory: "Slavery is the natural and normal condition of society." The situation of the North is abnormal and anomalous. So in desert or mountainous regions, where only small patches of land can be cultivated, the father, wife and children are sufficient for the purpose, and slavery would be superfluous. In order to make sure that our reader shall comprehend our theory, we will give a long extract from the "Science of Society," by Stephen Pearle Andrews of New York. He is, we think, far the ablest writer on moral science that America has produced. Though an abolitionist, he has not a very bad opinion of slavery. We verily believe, there is not one intelligent abolitionist at the North who does not believe that slavery to capital in free society is worse than Southern negro slavery; but like Mr. Andrews, they are all perfectionists, with a Utopia in full view: