The quantity of Peruvian guano annually imported has risen from 22,000 tons in 1846 to 95,000 tons in 1850, but has increased during the last year to about 200,000 tons. If the price were reduced by L2 to L3 a ton, even the present large supply would be found greatly short of the increased demand. In a single season, in 1845, when the price of Ichaboe guano ranged from 6L to 7L a-ton, the importation with an open trade rose to 220,000 tons. A reduction of 2L to 3L a ton would be followed by an extraordinarily increased consumption. Twice the present importation might be taken advantageously for the wheat crops alone. It seems to be held by the Government that the right of Peru to the Lobos Islands is unquestionable. It is, in that case, only by friendly negotiation that anything can be done. Considerations should be pressed on the present Ministry, pledged as they are to promote the landed and shipping interests. If they can persuade the Peruvian Government, by friendly negotiation, that the interests of that country as well as ours will be benefited by opening the guano trade, they will confer an important service on this country; a full supply would contribute materially to restore the prosperity of the landed interest by increasing their produce at diminished cost; and it would give regular employment to about one-tenth of the whole mercantile navy of England. Undoubtedly! an increased supply, or rather an increased consumption, would tend materially to restore, in England and in America, to build up the landed interest, by increasing the product of the land at diminished cost. If farmers could buy guano at lower prices, it is argued all would use it. Undoubtedly again! Because their profits would be greater. So great in fact, the temptation to make money out of the purchase and use of guano few could withstand "such a chance for a speculation." But as they cannot induce the Peruvians to let them have it at a lower price, and as they can make money out of it at the present price, is it not a suicidical measure upon the part of the owners of unprofitable land, to refuse to use guano, because they cannot get it at their own price, while they can certainly profit by its use at present prices.