his plans; the questions of “receptacle”, location, temporary support, must be looked into and provided for. And the newcomer who is to be successful must be forceful, self-reliant, and ready to meet with temporary prejudice. While the conditions of many blacks might be improved by removal to Liberia, the black population in this country would be advantaged by the elimination; if a considerable number of emigrants were to go to Liberia, pressure here would be relieved and conditions would be improved. There will of course be a constant trickling of newcomers from this country to Liberia; there may very well be a constant stream. Such a stream indeed is necessary, if the vigor and vitality of Liberia is to be maintained; new blood is desirable--whether welcome or not. Know-nothing-ism is not confined to Liberia or to any one place. In the United States we have a condition which is comparable to that which Liberia presents. Here, too, the old population is barely holding its own, if it is doing so; the old families of New England and the eastern seaboard have largely run to seed; it is absolutely necessary that a great and steady immigration of European whites pour in to maintain our life by the infusion of new blood. Such immigration of course is not welcomed by our “true Americans”. If rigid exclusion could be practiced, we should soon face a condition much like that of France. If we are to live and occupy a significant place among the nations of the world, we must accept this constant incoming of population from outside. The mixture of these newcomers with our own people, fagged and worn out by new and unfavorable conditions, produces a new stock with sufficient vigor to carry on our national development. The hope of Liberia lies largely in a considerable immigration of black people from our southern states. One of the most serious dangers of Liberia lies in its isolation; it needs contact; everything that tends toward an increase of contact with the outside world is good. Liberia needs ideas, friends, interchange; otherwise stagnation is inevitable--and death. She must receive these aids either from Europe or from America; she will of course receive them from both; but the source of the greater part of her inspiration and ideals must be on this side of the Atlantic and from our people of color. Immigration from America, whether small or great, must necessarily be helpful. If great and constant, difficulties will be lightened and helpful bonds strengthened. If the temporary management in the hands of others of a part of our governmental machinery will result in actual and permanent independence and international respect, which I firmly believe will be the outcome, then it becomes our imperative duty as patriotic citizens to make such a necessary and noble sacrifice.--DANIEL E. HOWARD. THE FOREIGN DEBT OF THE REPUBLIC. THE LOAN OF 1870.