There is no necessity for repeating here the voluminous argument for and against the charter of the Hudson's Bay Company. The interest of British colonization in Northwest America far transcends any technical inquiry of the kind, and the Canadian statesmen are wise in declining to relieve the English cabinet from the obligation to act definitely and speedily upon the subject. The organization of the East India Company was no obstacle to a measure demanded by the honor of England and the welfare of India; and certainly the parchment of the Second Charles will not deter any deliberate expression by Parliament in regard to the colonization of Central British America. Indeed, the managers of the Hudson's Bay Company are always careful to recognize the probability of a compromise with the government. The late letter of Mr. Barens to Lord Caernarvon expressed a willingness, at any time, to entertain proposals for the surrender of franchises or territory; and in 1848, Sir J.H. Pelly, Governor of the Company, thus expressed himself in a letter to Lord Grey:--"As far as I am concerned, (and I think the Company will concur, if any great national benefit would be expected from it,) I would be willing to relinquish the whole of the territory held under the charter on similar terms to those which it is proposed the East India Company shall receive on the expiration of their charter,--namely, securing the proprietors an interest on their capital of ten per cent." At the adjournment of the Canadian Parliament and the retirement of the Derby Ministry, in the early part of 1859, the position and prospects of English colonization in Northwest America were as follows:-- 1. Vancouver's Island and British Columbia had passed from the occupation of the Hudson's Bay Company into an efficient colonial organization. The gold-fields of the interior had been ascertained to equal in productiveness, and greatly to exceed in extent, those of California. The prospect for agriculture was no less favorable,--while the commercial importance of Vancouver and the harbors of Puget's Sound is unquestionable. 2. The eastern slope of the Rocky Mountains and the valleys of the Saskatchewan and Red River were shown by explorations, conducted under the auspices of the London Geographical Society and the Canadian authorities, to be a district of nearly four hundred thousand square miles, in which a fertile soil, favorable climate, useful and precious minerals, fur-bearing and food-yielding animals, in a word, the most lavish gifts of Nature, constituted highly satisfactory conditions for the organization and settlement of a prosperous community.