BRITISH AMERICA.

The Canadian Parliament met at Toronto on the 20th of May, by Lord Elgin, the Governor-General, who read the Royal speech in English and French. The most important topic it contained was a project for increasing the representation. It was also stated that the change in the Navigation Laws had increased foreign shipping in the Canadian ports; that the new Postage Law will soon yield an equal revenue with the former exorbitant system; that a measure will be introduced for reducing the civil list and withdrawing the troops. The Government refers to the Halifax and Quebec Railroad in a manner favorable to the adoption of the conditions on which the Imperial Government offer to guaranty a loan. The Government has since introduced a measure to abolish the law of primogeniture in Upper Canada. The question of a reciprocity of trade with the United States, has given rise to a long discussion in the Legislature; but the Governor refused to produce the correspondence on the subject with the Government of the United States. The Minister of Finance insisted on measures of retaliation, and proposed to close the canals against American vessels. The question was finally postponed for a fortnight, in order to await the result of negotiations with the American Government. The Governor-General sent to the Assembly a detailed account of the public debt of the Canadas, which, on the 31st of January last, amounted to $18,049,875, paying an annual interest of $877,674.

The Annexation feeling is said to be on the decrease in Canada, and the idea of an independent Northern Republic, consisting of the British Provinces and the territory now held by the Hudson's Bay Company, has arisen in its stead! The Episcopal Church is making great efforts to prevent the secularization of the Clergy Reserves, and a general Convention of both the clergy and laity has been held at Toronto, in opposition to the measure. A large and enthusiastic meeting has been held at Halifax, and Earl Grey's proposition in regard to the Halifax and Quebec Railway, was unanimously accepted. The propeller Franklin, running between St. John's, Newfoundland, and Halifax, was wrecked on the 17th of May; the passengers and mails were saved.

MEXICO—CENTRAL AMERICA.

The Mexican Government is in a state of great perplexity, on account of the desperate state of its finances. All projects for the adjustment of the revenues, or the consolidation of the Interior Debt, have thus far entirely failed. Señor Esteva, the Minister of Finance, resigned early in May, on account of the difficulties he encountered in attempting to carry out the imperfect provisions of the law. Señor Yañez, the Minister of Foreign Affairs, was appointed in his place. He proposed a plan of increasing the revenue by reducing the expenses of the public offices, imposing a tax on manufactures, and levying contributions on the States,—a course which was strongly opposed by the friends of the Administration. Congress adjourned on the 22d of May, without making any provision for the emergency: and a special session has been called, to meet on the 2d of June. The Tehuantepec grant to Garay was annulled in both Houses by a large majority.

Ex-President Pedraza died in the capital on the 13th of April. The commercial house of Rondero, in the city of Mexico, has failed in the amount of $600,000. The police in the city is very deficient, and many of the streets in the suburbs are almost deserted, on account of the hordes of robbers which roam and plunder at large. The Northern States of Mexico are in great distress, from an unprecedented drought. No rain has fallen since last August; provisions are enormously dear, and a general famine was apprehended.

In Yucatan, the Indian war is drawing to a close. Gen. La Vega, who had arrived at Campeachy to take command of the forces, was received with great enthusiasm. The Indians have recently sustained several bloody defeats, and are evidently very much discouraged. In their endeavor to take by assault the town of Bacalar, they were received with such a heavy fire by the garrison, that they were utterly routed, and the river was choked up by their dead bodies, while the whites suffered only a trifling loss.

There is little news of interest from Central America. A mule-track, or transit-road as it is called, has been made from Rivas de Nicaragua to the Gulf of San Juan del Sur: and the line from New-York to San Francisco is expected to be completed by the 17th of July. The subject of a new Constitution is engaging public attention in Honduras. A violent earthquake was experienced in the State of Costa Rica, on the morning of the 18th of March. A great amount of property was destroyed in the cities of San José, Heredia, and Barba.

WEST INDIES.

In Cuba, the fears of an invasion, with which the island has been agitated for three months past, appear to have subsided. A number of arrests have been made, but no revolutionary preparations have been discovered. Several prisoners have been convicted of disaffection to the Government, and are to be sent to Spain for safekeeping. Mr. Christopher Madan, who voluntarily delivered himself up to the authorities, has been banished to Spain, and condemned to pay his share of the damages done by Lopez at Cardenas.