Delony, it seems, has 'viewed this question in all its bearings,' 'foremost and in front' of course included, and deems its adoption eminently essential to the future stability and welfare of the confederacy. The abolition of _all_ impost duties and a system of direct taxation, are of course warmly advocated--meaning thereby the ruin of Northern manufactures by smuggling European goods over our border. In short, he sets forth plainly what is as yet far from being felt or generally understood, that the independence of the Southern confederacy must inevitably bring with it the total ruin of the North, and the entire exclusion from its citizenship and offices of all persons other than native-born Southerners. 'Article V.' is one of those intensely snobbish, sickening, self-conscious essays on 'Gentility,' which none but a Southerner is capable of writing. The innate vulgarity of its author, 'J. T. Wiswall, of Alabama,' is shown in such expressions as 'a pretty Romeo of seventeen, that looks as charming as sweet sixteen, _gallused up_ in tight unmentionables,' and in artless confessions that he--J. T. Wiswall--belongs to a class above the snob, but still to one 'whose conversation stalks as on stilts,' and which is foppish, effeminate, and ostentatious. The conclusion is, of course, the worship of 'aristocracy,' a worship of which, as J.T. Wiswall infers from his own shallow reading and flimsy experience, exists 'in every heart.' The wants of the rich, their 'toys and gauds,' 'were made to relieve the sufferings of the poor,' and the 'ceaseless abuse of aristocracy is _therefore_ absurd.' Without the great truths, based on these relations of rich and poor, J. T. W., the apostle of 'Gentility,' thinks that 'society is a murderous anarchy; without these, revolution follows revolution, and barbarism closes the hideous drama of national existence. On these alone hang all the law and prophets.' The remaining articles of '_De Bow's Review, Industrial Resources_, etc.,' are devoted to Free Trade, the Progress of the War, and the Coal-Fields of Arkansas, none of them, with the exception of the latter, presenting aught like an approach to a useful truth. The magazine is, however, as a whole both curious and characteristic. It shows, as in a mirror, the enormous ambition, the uneasy vanity, the varnished vulgarity of the Southerner, his claims to scrupulous honor, outflanked and contradicted at every turn by an innate tendency to exaggerate and misrepresent, and his imperfect knowledge employed as a basis for the most weighty conclusions. And it is such writers and thinkers who accurately set forth the ideas and principles on which the great experiment of the Southern aristocratic confederacy is to be based--in case of its success. A tremendous Ism, fringed with bayonets! There is strength in bayonets, but what stability is there in the Ism which supports them? EAST AND WEST.