Moreover, as a cattle country many parts of South Africa are probably unrivalled, notwithstanding which both live and dead stock are freely imported, and while it could support millions of sheep it prefers the frozen mutton of New Zealand and the Argentine. Whoever is to blame for this state of things, which, happily, under the new _regime_ and with the influx of population from European countries will gradually be altered, it is certain that, until the old order changes (and this will probably be a work of decades), South Africa must rely upon oversea goods for the maintenance of its growing population, as also for the means wherewith to extract its marvellous mineral wealth. According to Mr. W. Willcocks, C.M.G., if the irrigation schemes which are projected in the Transvaal and Orange River Colonies are ever carried into effect, they will add something like £200,000,000 to the value of the agricultural land, a consummation which, in its own interests as well as for our own industries, is devoutly to be wished. If it be true, as is repeatedly asserted by those most competent to judge, that South Africa's vast mineral deposits have only been "scratched," how much more does this remark apply to its agriculture, which, after all, is the staple wealth of all countries, and which has made the United States and Canada what they are to-day? Enough has probably been said of the South African trade of the past and present, although the subject is of such profound interest to the student that it deserves greater space than is possible within the scope of a single article. It is to the future that we have now to direct our attention, and it is in attempting to forecast the probable trend of the trade in the years to come that speculation becomes positively fascinating. In making this endeavour, it is well to bear in mind that assumption will be based upon such facts as are within our common knowledge, and therefore may be accepted as a reliable, although not infallible, guide as to what may safely be expected of South African commerce in the future. Setting aside for the moment the possibility of the soil being made to yield any greater abundance than is now the case, or that other than its existing insignificant industries will be promoted or developed, we will first of all confine our investigations to how far South Africa's mineral wealth will beneficially affect trade pure and simple. Altogether, irrespective of the Cape, Natal, Rhodesia, and the Orange River Colony, the mining, exploration, and investment companies at present in existence in the Transvaal alone, or connected therewith, number something like 350, representing a capital of £250,000,000, or about what the war has cost us. Many attempts have been made by competent experts in the past to forecast what the several sections of the Witwatersrand only will yield in gold as interest on this huge sum before the mines at present in working or in process of