I have lately seen in some of the English papers exaggerated pictures of the condition of the United States, founded, probably, in the policy of encouraging emigration to her own possessions, or derived from the reports of some few disappointed emigrants who have returned home. It was proclaimed that the country was crushed with debts it never could repay without impoverishing the people by taxation; that labor could neither find employment nor receive adequate reward; that an universal blight had come over the land, and every where withered its prosperity; that the states were bankrupt and the people beggars. All this is sheer declamation. There never has been any thing like widely extended, much less general distress in the United States, arising from a deprivation or curtailment of the necessaries or comforts of life. There never was a time when any class, or any considerable proportion of a class, approached within a thousand degrees, that poverty and destitution which is the common lot of so large a portion of the laboring people of the Old World. The country has at all times been blessed with a plenty, a superfluity, an exuberance of every product essential to human existence, and those who could not obtain them, were either unwilling to make the necessary exertions, or unable to do so by sickness or some other untoward circumstance. The distress complained of is not positive, but comparative. We may be restricted in our luxuries, but the land, from one wide extreme to the other, is absolutely flowing with milk and honey, and it is little less than flying in the face of the bounties of Heaven to complain of hard times, which can only be traced to a superabundance of every thing, and shrink to the earth under the pressure of a debt, the whole of which could be paid is less time than it was contracted, without incurring one-fourth of the burden sustained by the people of England. But we have been spoiled by prosperity _Fortuna nisirium quem foret stultum facit_. Fifty years of almost uninterrupted prosperity had turned our heads, and it is to be hoped a few years of wholesome reaction will restore us to reason. The sudden cessation of a favorable gale often saves the vessel from running on the rocks and being dashed to pieces.