The mission of Baron Mackau, sent by Charles X. in 1825, had for object the imperfect recognition of the independence of the republic of Hayti, on condition of their paying £6,000,000 as an indemnity to the old colonists--a sum quite out of the power of the country to raise--and only five years were allowed to complete the transaction. One is at a loss to understand how President Boyer could have consented to so burdensome an arrangement. Subsequently the indemnity was reduced to £3,600,000, but although fifty-eight years have passed, a balance still remains due. It was not till 1838 that these arrangements were concluded, and France definitively recognised the independence of Hayti. The republic had effected a loan in Paris in 1825 of £1,200,000 nominal to pay the first instalment due, and even this debt has not been completely settled. The whole transaction proved a cruel burden to the country, and, by introducing heavy export duties and the curse of paper money, greatly injured agricultural and every other interest. The import duties average about 30 per cent. on the value, whilst the export duties are at so much a quintal on coffee, and have varied according to the exigencies of the moment. Major Stuart’s Report for 1877 enters into many details which may be found interesting. I propose to give here only the general results; but I may say that the duties embrace almost every article, and are as high as they can bear. The progress of the revenue collected in Hayti is another proof to me that the population has greatly increased. It is not necessary to examine the budgets of many years. In 1821, before the union with Santo Domingo, the income is stated by Mackenzie to have been $3,570,691, and the expenditure $3,461,993. In these sums must be included some exceptional receipts and expenditure, as the revenue of the whole island in 1825 was only $2,421,592. The long and quiet Presidency of Boyer, coupled with his honest administration, enabled him not only to pay off considerable sums to France, but to leave a heavy balance in the treasury. Boyer, however, has the demerit of having introduced the paper currency, and of having put into circulation $2,500,000 more than he withdrew, thus reducing the exchange of the doubloon from 16 to 1 (par) to 40 to 1. After Boyer came the period of revolutions, and consequent deficits and heavy issues of paper money. In four years they had sent down the exchange to $60 to one doubloon. But the disastrous period of Haytian financial history was the reign of Soulouque, when millions of paper dollars were issued every year, sending down the exchange to $289 to one doubloon. In 1849 no less than $4,195,400 were issued to meet the expenses of the establishment of the empire. The budget for 1848, the last year of the republic, is nominally a very modest one (exchange $25 to £1):--