about £100; now they are worth from £200 to £400. But what must be the tendency of this fearful competition for a limited supply of human labor--limited as long as the slave trade is prohibited--unlimited as soon as the slave trade is legalized? What is the actual condition of the Southern States at this moment? There is on the ground and being secured, according to computation, the largest cotton crop ever known. The last estimates vary from 3,550,000 bales to 3,700,000 bales. A very few years ago it was calculated that cotton at any thing above _four cents_ the pound for "middling quality" on the spot was a profitable crop. Now, the price for the same quality on the spot is fully _ten cents_ the pound;--and it has been about the same or higher for a long time. What is the consequence? A correspondent writing by the last mail says: 'The people of this section of the country feel _made of gold_, and every thing here is, of course, going at full cry--_every planter wants to open more land and buy more negroes_.' What do these facts suggest? Do they furnish no explanation of the strong desire in the Southern States to possess Cuba? Do they furnish no explanation of the exaggerated irritation got up last year in respect to the West India squadron, and the demand of the American Government, we fear too successfully made, that the right of search in the mitigated form in which it existed should be altogether abandoned? A people familiarized not only with slavery, but also with the slave trade as between one class of States and another, can hardly be expected to entertain a very strong repugnance to a slave trade from beyond the seas. That cargoes of imported slaves have recently been landed in the United States is not denied:--that vessels fitted out as slavers have recently been seized in American ports, we know upon official authority. The same correspondent whom we have already quoted, says there are two great questions which occupy the Southern States at this moment. The one is the acquisition of Cuba. 'The other,' he says, 'is one which has been presented to me forcibly during my sojourn in the South, and that is the increase of slave population. You must have noticed an illicit importation of negroes from Africa landed in Georgia. This has undoubtedly been done, and I doubt not also that other negroes have been landed. It is of course the desire of every honest man that the whole force of the government should be used to put down such a trade, and punish the offenders; but I fear the profits of the trade are so enormous that it will be carried on in the face of all opposition. Negroes are now worth here from 1,000 to 2,000 dollars a-piece. The subject of their being introduced is being openly discussed, and the propriety of the trade being again legalized. It is plain this discussion will by and by take shape. Will not the government be obliged to listen to it, and what will be the result? When labor is so profitable it will be obtained. How? I