The importance of the Hudson river to the old settled parts of the state, may be observed in the immense wealth which is daily borne on its waters, in the flourishing villages and cities on its banks, and in the opulence and prosperity of all the country connected with it, either remotely or immediately. It may also be readily conceived, if we only suppose that by some awful physical calamity, some overwhelming convulsion of nature, this great river was exhausted of its waters: Where then would be the abundance of our markets, the prosperity of our farmers, the wealth of our merchants? Our villages would become deserted; our flourishing cities would be converted into masses of mouldering ruins, and this state would be precipitated into poverty and insignificance. If a river or natural canal, navigable about 170 miles, has been productive of such signal benefits, what blessings might not be expected, if it were extended 300 miles through the most fertile country in the universe, and united with the great seas of the west! The contemplated canal would be this extension, and viewed in reference only to the productions and consumptions of this state, would perhaps convey more riches on its waters, than any other canal in the world. Connected with the Hudson, it might be considered as a navigable stream that extends 450 miles through a fertile country, embracing a great population, and abounding with all the productions of industry. If we were to suppose all the rivers and canals in England and Wales, combined into one, and discharged into the ocean at a great city, after passing through the heart of that country, then we can form a distinct idea of the importance of the projected canal; but it indeed comprehends within its influence a greater extent of territory, which will in time embrace a greater population. If this work be so important, when we confine our views to this state alone, how unspeakably beneficial must it appear, when we extend our contemplations to the great lakes, and the country affiliated with them! Waters extending two thousand miles from the beginning of the canal, and a country containing more territory than all Great Britain and Ireland, and at least as much as France. While we do not pretend that all the trade of our western world, will centre in any given place, (nor indeed would it be desirable if it were practicable, because we sincerely wish the prosperity of all the states,) yet we contend, that our natural advantages are so transcendant, that it is in our power to obtain the greater part, and put successful competition at defiance. As all the other communications are impeded by mountains, the only formidable rivals of New-York for this great prize, are New-Orleans and Montreal, the former relying on the Mississippi, and the latter on the St Lawrence.