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number of boats required would be over 7,000. Incredible as the amount may appear, it is not as much so as at first it would seem; because the actual population will not be far from trebling itself by that time, which would give about half said estimate   say about 3,500 boats, if the tonnage increased only in proportion to the increase of population. But, by the compounding process aforesaid, that increase will double the ratio of the increase of population, and bring it to the foregoing figures: provided there be an outward vent for the products of the country. But, as this cannot be hoped for, in proportion to the want of such vent, said amount of tonnage must be diminished, except so far as the same is engaged in the interior trade of the country. This is estimated to be fully one half, which would give 3,500 boats; and, if we deduct one half for diminution in outward demand, in proportion to the ratio of increase, we have 1,750 for that branch, or a total of 5,250 boats in 1865. But, as the regular progression of increase is to be diminished by the want of a market for the products of the country, what is to be the effect of a continued over production? Certainly to reduce agricultural labour to the very lowest mark at which man will be willing to render his services ; which will reduce the value of agricultural products to less than half the value in the west, of what they are in the eastern States   a condition of things almost existing now. The whole expenses of the west will be scaled down to half of what they are in the eastern States. Labour will be at half price, because it will seek employment at what it can get; and half eastern prices will be a fair remuneration, since those prices will purchase as much in the west, as full prices in the east. This state of things will necessarily transfer the business of manufacturing from the east to the west, for the double reason that labour will ultimately be had cheaper in the west; and because the raw material is produced there, where three fourths of the demand for manufactures exist, or will exist by the year 1865. Western merchants now estimate ten per cent, on cost, as the expense of getting cotton goods from the east to the west.

Add five per cent, for the cost of getting the raw material from the west to the east, and you have a difference of fifteen per cent, on the value of goods, in favor of manufacturing in the west, even if labour be at the same price. At present, labour may be considered higher in the west than in the east. But that state of things must necessarily end very soon, when the west will have it one-third less than it is on the other side of the mountains.   Destiny points to all those results as certain