The Americans, who are decidedly a more enterprising mercantile people than ourselves, have almost engrossed the profits of the seas surrounding the Indian Archipelago and the western and south-western portions of New Holland. Their vessels in these parts are to ours in the ratio of at least ten to one. They constantly frequent the out-stations of Western Australia; supply the wants of those retired portions of the world, and where, legitimately, the British manufacturer should command the market, little besides the produce of America is to be seen. The settlers at these stations derive the largest portions of their supplies from the American whalers, who give them in exchange for potatoes and vegetables--and this species of barter is so profitable to both parties that it would be impossible to prevent it (nay the attempt would be cruel) by any other means than by inducing British whalers and merchant-vessels to secure some portion of those advantages which are at present wholly monopolized by others. EFFECTS OF THE SPIRIT OF SPECULATION. The masters of the American whalers participate in a great degree in the feelings of the out-settlers; from the impressions generated in their infancy they are disposed to look with a fraternal eye upon the few adventurous spirits who have located themselves far from their fellow men to reclaim a home from the wilderness. They have seen, lived amongst, and shared the benefits which result from such commencements, and it is not therefore to be wondered at that at all the out-stations the most friendly relations exist between the settlers and the American whalers; and when, during the five months of the bay whaling season, an American vessel lays at anchor in some bay where there are one or two settlers' families, a constant exchange of mutual acts of kindness takes place, equally creditable to both parties; whence result friendship, and perhaps an intermarriage; and when the period of the vessel's sailing arrives there are numerous deserters from her crew, who readily find employment at the different sheep stations. DIFFUSION OF EMIGRATION.