Corrientes are capable of supplying the finest timber for ship-building purposes, sugar the growth of free labour, the best kinds of tobacco, cotton-wool, dyewoods, drugs, the tea of Paraguay, and the precious metals from Bolivia and the back provinces of Brazil. It is now only twenty or thirty years since steam navigation was introduced on the Mississippi, and the consequence of its introduction has been an extension of cultivation and population such as the world never before saw. The natural resources of the great valleys of the Parana, Paraguay, and Uruguay, merely require to be developed by the same means to make Monte Video and Buenos Ayres as flourishing as New Orleans, and to make the commerce of the River Plate rival that of the Mississippi. It is perhaps vain to hope that anything will induce the present Governor of Buenos Ayres to abandon the suicidal policy which is at once impeding the intercourse with the interior, and depriving that city of the principal benefits of its unrivalled position, but this only renders it the more necessary to keep open the only other course, namely, that through the Uruguay, by which the resources of these vast countries can be brought into activity. For another of the great advantages which has resulted from the independence of Monte Video, has been the opening of a new channel for the commercial intercourse between Europe and the central states of South America, in peace as well as in war; and this channel the Monte Videan Government has laboured to improve and keep open, as zealously and as successfully as the Buenos Ayrean Government has laboured to narrow and impede the old ones. The Buenos Ayrean Government has been warned repeatedly by its warmest friends of the consequences which would result from its illiberal commercial policy; but they might just as well have reasoned with the winds; for, the only effect of the contrast between the rapidly increasing prosperity of Monte Video and the declining state of Buenos Ayres, has been to excite the most deadly hatred and jealousy towards Monte Video on the part of the Buenos Ayrean Government, and a settled determination to drag down that rapidly improving city to its own level. The following sketch of the commercial policy of the two countries will show what have been the principal causes of the prosperity of Monte Video, and what of the decline of Buenos Ayres; and also how strong a claim the policy of the former gives it on the sympathy and support of this country.