“_Repeal of the Navigation Laws._—A correspondence has taken place between the British Secretary for Foreign Affairs and our Minister at that Court relative to the repeal of the Navigation Laws of Great Britain. Mr. Bancroft applied to Viscount Palmerston early in November to learn whether Ministers would consent to establish with the United States a perfect system of reciprocity, in making all vessels of either country, fitting out from any port of the world, free to trade to any port of the other nation, whether home or colonial. Viscount Palmerston, after the lapse of some weeks (_it was just fourteen days_), replied that, although her Majesty’s Ministers did not feel at liberty to advise her Majesty at once to make such a change in the commercial system as was asked by Mr. Bancroft without the consent of Parliament, yet as soon as that body should meet, a measure would be introduced which would embrace all the views put forth by Mr. Bancroft in his note. It is not doubted that Parliament will at once act favourably on the Bill. The importance to the United States of such a measure can scarcely be exaggerated. The British colonial system has been a most grievous restriction on our commerce, and its annihilation, as promised by Lord Palmerston, will open to our enterprising merchants the lucrative trade of the East and West Indies, and of the other British settlements from which they have been hitherto debarred. This will be the greatest stride yet taken by Free-trade: and it is _not to be doubted that all Europe will follow the example of Great Britain_! The liberal commercial treaty made by Hanover with the United States has been in no small degree instrumental in disposing the British Government to this wise measure. The Rhine provinces have recently imitated the example of Hanover towards the United States; and everywhere silently but steadily our commercial relations are being put upon the most advantageous footing. The repeal by Great Britain of the laws restricting the trade of the United States with her colonies will be far more beneficial to this country than any commercial treaty ever made by our Government.”