whose assent alone the primordial sovereignty of the Union is so far abandoned as to admit the exercise of State sovereignty in such Territories. There would be no propriety nor justice in allowing an _hypothetical sovereignty_ to a few thousands of individuals congregated in a large Territory, not one fiftieth part of which they occupied; allowing them to establish a rule of exclusion of the persons or property of the people of a portion of the States coming to settle in the Territories. Such persons have neither the right to decide for the present, nor the future; because at present they are not sovereign, and certainly they should not be allowed to exercise a _usurped_ authority over the millions who shall occupy those Territories in the future. It is a morbid desire to forestall the future, in its judgment of barbarism, and of its fitness to subserve civilization, that creates the present animosity between the citizens of the different sections of the Union, going into the Territories. This is all wrong. The sovereignty of the Union is the present, and the sovereignty of States the future arbiter of the rights of the people in the Territories; all other power is assumed, arbitrary, gratuitous, and in violation of legitimate, delegated constitutional power. The wisdom of the sages who founded the American Union left nothing for experiment to their successors, so far as the absolute equality of American citizens is concerned; and there is no safety but in the recognition of that perfect equality which the spirit of our race demands, and which the power of the civilized world will be invoked to maintain. THE NECESSITY OF OUR ONWARD PROGRESS AS A NATION. The intimate commercial relations existing between this Republic and the principal maritime and warlike nations of the globe, mainly by means of the products of slave labor, constitute a necessity for our onward, uninterrupted progress, as the great agricultural and commercial almoner of civilization, and cannot be disturbed, except at the peril of that civilization which they have been so instrumental and conspicuous to promote. The proposed annihilation of the hand of labor whose products amount to $250,000,000 per annum, and those products constituting the articles of prime necessity to civilization, is a matter which involves other interests than our own; and however willing monarchists and their minions may be to disrupt our political system, and destroy this temple of freedom, they will find the genius of commerce and the genius of liberty will continue to go hand in hand to uphold the principles of right and justice, which demand that barbarism shall subserve civilization. AMERICAN COTTON.