Although many Cubans, despairing of reconciliation, are disposed at this moment to declare that the time has quite gone by for a compromise, it is doubtful whether this be really the case. Cuba and Spain have been united for centuries, and notwithstanding fierce animosities have yet many common ties. There are, too, not a few prudent men who, whilst strongly in favor of abolition, dread the sudden adoption of such a course, which would be the inevitable result of an entire break with Spain. They see in it nothing but ruin to the majority of whites, without corresponding advantage to the blacks. "Let abolition come," they say, "by all means, but not all at once. Look at Jamaica, look at your own South! Would it not have really been better for all parties if the abolition had been more gradual, or at least attended by such conditions as would have ensured less immediate depreciation of property?" We believe that our government could not more effectually serve the interests of the Cubans than by a vigorous intercession[L] to secure them an independent government on the Anglo-colonial system, accompanied by the passage of an act of the Cortes freeing every slave within five years; and meantime enforcing rigorously protective measures for the enslaved, including payment of wages. There seems no reason why a legislative system on the plan of the Australian colonies of Great Britain should not be attempted. Its failure in Jamaica is not sufficient ground against it. In Jamaica there were a few grains of whites to bushels of blacks: in Cuba there are some seven hundred thousand colored--of whom only four hundred thousand are slaves--to about one million four hundred thousand whites. We can scarcely doubt that the Spanish government will feel constrained to hearken to the remonstrances of that of the United States. Spain is to-day in all but extent of territory a fourth-rate rather than a second-rate power. Her government is the least stable in Europe, except possibly that of France. Her exchequer is exhausted. Her credit is utterly gone. Assume a war: where is she to get money? There is not a people in Europe, save the Dutch and the English, who at this moment have anything to lend, and neither Dutch nor English are likely at present to send more money to Madrid. Spain has too amply proved herself the defaulter _par excellence_ of the world. Now, therefore, is the time for American mediation; and we sincerely hope that Mr. Fish will not let it pass, but will follow up vigorously his admirable despatch, and thus secure to Cubans the blessings of a free country.