against her long persistence in sinning against political economy, if indeed she had so sinned; and the question was one that admitted of some dispute, free trade being but an experiment. Gradually, however, men came round to the British view, in theory at least; and among the intelligent classes it was admitted that commerce without restriction was the true policy of nations, which must be gradually adopted as the basis of all future action, due regard to be paid to those potent disturbing forces, vested interests. France was slow to yield in practice, though she had produced some of the cleverest of economical writers; for she is as little given to change in matters of business as she is ready to rush into political revolutions. But even France at last gave signs of her intention to abandon her ancient practice in deference to modern theories; and Napoleon III. and Mr. Cobden laid their wise heads together to form plans for the completion of the 'cordial understanding,' on the basis of free trade. Less than forty years had sufficed to effect a gradual change of human opinion, and protection seemed about to be sent to that limbo in which witchcraft, alchemy, and judicial astrology have been so long undisturbedly reposing. Death, we are told, found his way into Arcadia; and disappointment was not long in coming to disturb the modern Arcadians, who had as much to do with cotton as their predecessors with wool. The dream of universal peace, a peace that was to endure because based on enlightened selfishness,--that is to say on buying in cheap markets and selling in dear ones,--was as rudely dispelled as had been all earlier dreams of the kind. Interest, it was found, could no more make men live lovingly together than principle could cause them to do so in by-gone times. If there were two nations that might have been insured not to fight each other, because interest was sufficient to prevent men from having resort to war, those nations were Russia and England. They were in no sense rivals, according to the definition of rivalry in the circles of commerce. Between them there was much buying and selling, to the great profit of both. England is an old nation, with the arts of industry developed among her people to an extent that is elsewhere unknown. The division of labor that prevails among her working people is so extensive and so minute, that in that respect she defies comparison. Other countries may have as skillful laborers as she possesses, but their industry is of a far less various character. Russia is a new country, and she requires what England has to dispose of; and England finds her account in purchasing the raw materials that are so abundantly produced in Russia. Commercially speaking, therefore, these two nations could not fall out, could not quarrel, could not fight, if they would. In all other respects, too, they could be counted upon to set a good example to all other communities. They had more than once been allies, each had