The Chincha Islands are three in number; not remote from each other or differing very materially in size or general feature. The Geological formation presents the appearance of masses of rock jutting out above the surface of the ocean—and occasionally rising nearly perpendicularly to a height of from 50 to 100 feet. At a distance, the islands present to the eye a somewhat conical form; owing probably to the greater deposits of guano in the centre; and all appear equally rich in quantity and quality.

The "North Island" is estimated to be about 300 feet at its greatest elevation; it is about 1½ miles in length, and from 1/2 to 3/4 of a mile average width. In sailing round them, the guano appears to many places to extend to the water's edge.

All the guano islands are uninhabited, except by the laborers, mostly Indians or poor Chinamen, who are employed in the work of digging, carrying and loading the guano into the ships. When a vessel is ready to take in cargo, she is moored alongside of the rocks almost mast head high, from the top of which the guano is sent down through a canvass shute directly into the hold of the ship. Thus several hundred tons can be put on board in a day. The trimming of the cargo is a very unpleasant part of the labor. The dust and odor is almost overpowering; so the men are obliged to come often on deck for fresh air. The rule is to remain below as long as a candle will burn; when that goes out, the air is considered unfit for respiration. If the labor had to be performed by a Yankee, he would think it unfit at first; and thereupon set his ready wit at work to construct a machine to spread the guano as it fell, from one end of the hold to the other. The guano in position upon the island, is so compact it has to be dug up with picks. It is then carried to a contrivance made of cane, at the edge of the rock, which conveys it into the canvass conductors. The mass is cut down in steps, receding and rising from the point of commencement, and has not yet attained a depth of 100 feet, and with all the labor of hundreds of men digging, and numerous ships carrying away to the several countries using it, there is but a bare beginning of removal made upon the mass upon one island only, as may be seen by reference to the diagram.

Supposing like many others, the supply of Peruvian guano was like the Ichaboe, destined to run out—that is all be dug up and carried away; we inquired of an intelligent captain of a ship just returned with a load, how long it would be before the supply would be exhausted. "Exhausted!" said he, with a look over the gangway, as much as to say how long would it take to exhaust the ocean with a pint cup; "why not in one hundred years, if every ship afloat should go into the trade, and load and unload as fast as it would be possible to perform the labor; no, not from the Chincha islands alone. Exhausted! they never will be exhausted." With due allowance for the captain's enthusiasm, we may be very certain from the government surveys, the quantity is so great, that no probability exists of the supply being exhausted until all the present inhabitants of this earth have ceased to move upon its surface. We may be certain of another fact; that unless we commit a great national wrong upon Peru, by seizing upon some of her guano territory; a thing which the sober second thought of this nation will never sanction; we shall not be able to obtain the article only through her government agents, at such prices as her rulers think proper to affix to it. While the demand and the result of the use of guano continues as at present, there is not much probability of any material change.

The Peruvian Government are, of course, anxious to sell all that the world want, and are willing to pay for at remunerating prices. The Peruvian minister, in reply to the Secretary of State at Washington says:—"The Peruvian Government, in leasing out its rights and interests, as a proprietor of the article, adopted the only system that was supposed likely to create a demand for guano; while, on the other side, it was bound to leave the consignment as security, in the hands of those persons who had hazarded their capital in meeting the heavy expenses attending the process of freighting, and in making the advances which were required to facilitate the exportation and construct the depots. Far from establishing a selfish monopoly, which would have proved injurious to its own interests, or fix a high, deliberate, and conventional price upon the article, it has only aimed to secure a net profit, reduced to the lowest possible standard, exceeding very little the actual amount of expenses; and there have been accounts of sales rendered exhibiting both loss and damage.

"The guano, therefore, is not monopolized; the government as the proprietor, has forwarded it, on its own responsibility, to those markets where it was in demand; selecting as consignees, as it was natural and proper it should do, those persons or houses who have advanced the capital necessary to defray the expenses; and, as these are much greater in all cases of remittances to England, and it follows that the sale of the article in this country is at the rate of ten pounds sterling per ton, the net profit has been less than what is realized in the United States, where the farmers obtain it at lesser prices. Nor has my government imposed any restrictions, duties, or determinate value on the exportation of guano, although it might and could do so with perfect propriety; because such action would have militated to the detriment of its own interests as the proprietor of the article. Its object has been to send it to those markets where it was in demand; because, as it had not yet become an object of decided and positive interest to the consuming world, and there being no certainty of its attaining saleable prices, to create a market as it was impossible for individuals to send to Peru for supplies, with any prospect of even moderate profit."

This is a fair statement of the case; and ought to be perfectly satisfactory to the consumers. The disposition of some men to create prejudice against the government of Peru, or the agents who sell guano in this country, because the price is too high, is a wicked one. Men can make money by purchasing at the present prices; and the owners of the article think they cannot make it by selling at a lower price. We have heard it urged as a reason why it should be sold at lower prices, that the agents and merchants engaged in its sale are making fortunes. So are flour merchants—so are farmers who grow the wheat—but that is no reason why it should be sold lower.

With all our heart, we wish the Peruvians would give us guano at half price; but because they will not, there is no reason why the people of this country should refuse to use an article which will most assuredly make them grow rich faster than those who are engaged in selling it.