But as they cannot induce the Peruvians to let them have it at a lower price, and as they can make money out of it at the present price, is it not a suicidical measure upon the part of the owners of unprofitable land, to refuse to use guano, because they cannot get it at their own price, while they can certainly profit by its use at present prices.

The Guano Monopoly.—Much prejudice has been excited against the agents and principal dealers in this country by the cry of monopoly. Are those who cry wolf the loudest, entirely clear themselves, of a fondness for fat mutton? The following extract from a letter of Edward Stabler of Maryland, gives a more fair, impartial view of the subject. He says; "Odious and grinding as monopolies usually become, and hard as this one seems to bear upon the agriculturist's interests, it still appears to be about as fair as ordinary mercantile transactions. The Peruvians may be considered the producers, and like our farmers and planters, may at times require advances from the commission merchant; and in proportion to the prices obtained, are his profits increased; nor does any one censure the merchant for selling at the highest price he can. Dealers, or speculators, if you please, are always censured for raising the price of guano. Is not the same thing done every day, and every hour in the day, by the purchase and sale of flour, wheat, corn, and tobacco—and is not the price of almost every article of commerce regulated in a great degree by the supply and demand? Most certainly; and so long as there is a probability of profit by the purchase and sale of this article, and just so long, and no longer, will the 'trade in second hands' continue. If the present supply is inadequate to the demand, by an almost undeviating rule in commerce, the price is enhanced, until at a point to drive the consumer from the market. This however, is not quite so soon attained with guano, under the present excitement, as with many other things. I have viewed this matter in a different light from some others, though erroneous as some may suppose, and do not think that censuring the dealers will cover the true ground of complaint, or at all tend to remove the existing difficulty. Their agency is, if I may use the term—but in no offensive sense—a kind of necessary evil; for the importer will not retail, and it suits but few of the consumers comparatively, to club together, and purchase in large quantities. The price of guano is owing mainly, if not entirely, to this monopoly in the import trade; and it would be the same thing, and a monopoly still, whether in the hands of English or American merchants; with also, about the same amount of liberality to be looked for, from one as from the other."

Is there anything so unfair in this, that we should cry out "wicked monopoly." The Peruvian government, after the revolution, finds itself deeply in debt, and greatly in want of money, and in possession of one of the most valuable fertilizing substances in the world, which the people of other governments are in want of, or rather, may profit by the use of, which she offers to sell at what she deems a fair price; and for the purpose of enabling her to borrow money for immediate necessities, as well as to pay the war debt, she has given some of her citizens—rich merchants, who can advance money, certain privileges and advantages in the guano trade, upon condition that they will send a supply to all the countries where it can be sold, and in as great quantities as they will buy at fixed prices. This is the monopoly. A parallel case can be found nearer home. The government of the United States, also incurred a revolutionary war debt, and also came in possession of an article which the people of all other countries want, and unlike that possessed by Peru, an article which they must have. Upon this necessity of life, our government has fixed a price, which any one may pay or let it alone—buy or not, just as he pleases. The government will neither sell to citizens or strangers at half price, nor let them have the use of it without pay; in fact, will not let us carry away anything of value from this property, although it might not materially injure the sale of the principal and most valuable portion, which is immovable. Such is the "guano monopoly" of one government, and such is the "land monopoly" of the other. Which is most wicked?

Of the right of each government, no honest man will dispute. That Peru has as much right to the guano upon her desert islands, as the United States has to the live oak timber in the deserts of Florida; or as England has to the codfish in the waters of Newfoundland, seems to be as clear as any right ever exercised by any power on earth. Each protect their own by hired agents, so far as they are able, to prevent dishonest men from carrying away that which each considers valuable.

If English and United States citizens have a right to go and seize upon the guano and bring it off in defiance of Peru, because the guano islands are not inhabited, then have we a right to seize all the codfish in the waters of the sea, because nobody lives there—they cannot live there—they only live on the lands adjacent, and therefore have no right to anything except what they stand upon. Then by the same rule may the lands of the United States be seized upon, because they are unoccupied.

By virtue of decrees now in force, no vessel, either under the national or any foreign flag, has a right to go to the Peruvian guano deposits, without first obtaining permission from the Peruvian Government under penalty of confiscation.

Foreign vessels, furnished with government licences, are allowed to load at the Chinche Islands only.

Finally, any attempt to load vessels without the proper licences, would subject them to be seized by the Government vessels appointed to cruise off, and visit the different guano deposits, in order to prevent not only the illegal extraction of guano by foreign trading vessels, but also to prevent the natives of Peru from violating the Government orders against visiting those localities, and destroying or disturbing the birds.

Notwithstanding this cuts off the free trade in the article, it goes to show what we have always endeavored to impress upon the minds of American farmers, that the supply is inexhaustible—at least in this age and generation—and as every one grows wiser and wiser, it is probable the next will have no occasion to use such an old fashioned article as bird dung for manure. During the present, however, our advice is to every person occupying land which needs something to improve its fertility, to use guano—genuine Peruvian guano—purchased of reliable merchants—and the fewer the better between the importer and consumer.

The Quantity inexhaustible.—By those surveys, the quantity was ascertained to be upwards of TWENTY MILLIONS OF TONS. As this must appear so enormous as to be almost incredible, we present the annexed cut, supposed to represent a vertical section of one of the Chincha islands and the depth of the deposit according to the government surveys. The paralel lines at the bottom represent the level of the water—the crooked line above, the surface of the rock; its position having been ascertained by boring and observations of the surveyors. The rounded line is the surface of the island as it now appears; all between that and the rock being guano. The almost perpendicular line at the left hand, 100 feet high, is the rock at which ships lay to take in cargo. The space under the dotted line show a comparison of the quantity taken away, as it relates to the whole upon the island. The well hole represented in that section was dug some fifty feet deep to prove the guano was of equal quality at the bottom.