ished a list of twenty steamers in course of
construction for the Japanese. As American steamers have been found best
adapted for the Chinese waters, we ought to construct more for our
Japanese neighbors than we have yet done.

The British Government demands an indemnity for the families of the
slain--L5,000 for each sentry, and L10,000 for Mr. Richardson, and the
punishment of the murderers. As the validity of the treaties has been
questioned, Japanese having recently in several instances taken the
position that the tycoon had no authority to make them, it has been
proposed that Miako should be visited and the mikado compelled to ratify
it; and as the Prince of Satzuma is responsible for the latest murder,
it has been proposed that Kagosima should be bombarded, and that his
fief, the Loo Choo Islands, should be held as a material guarantee for
the fulfilment of his (the tycoon's) and the mikados' obligations. Some
British journalists have maintained that as the expense of a war, from
the courage of the people and the appliances of the rulers, would be
great, as the trade is of small value, and as the Japanese have right on
their side in resisting the encroachments of foreigners, it is
advisable, after obtaining due reparation, to withdraw from the country
altogether:--a proposition little in accordance with Britain's
antecedents; such a relinquishment of purpose would occasion a loss of
prestige which would jeopardize her sway from Hong Kong to Bombay. The
response made to the proposition to retire from the country is that it
would not only be ignominious, but perilous to their interests in the
far East, which are now in jeopardy from the 'encroachments of Russia,
the diplomacy, not always honest and aboveboard, of America, and the
ambitious policy of France.'

An ulterior object with that power is to obtain a foothold in the North
Pacific, which shall connect Hong Kong with British Columbia, and events
will be shaped as far as possible to secure that end. With France
strongly fortified at Annam, and Russian power growing on the Amoor, the
English are apprehensive that in a war with either of those countries
their cargoes of silk, tea, and opium would be somewhat insecure. While
England has the merit of extending free trade to her new acquisitions,
she makes them, even in peace, a means of annoyance to American
commerce; consequently, we cannot regard with indifference her
territorial expansion in the North Pacific. W