ship for the transport of timber, on the calculation that
at the end of the voyage it would be rated A1 at Lloyd's, or grow into the
solid power and capacity of a first-rate Indiaman, or man-of-war. We all
know that such timber floaters went to wreck in the first gale on our
coasts; the crews, indeed, did not always perish, they were only tossed
about at the mercy of the winds and waves with the wooden lumber which
would not sink, so long as hunger and helplessness did not disable hands
and limbs from holding fast. And just so with the "self-supporting system
of colonization."

Having ascertained, upon bases laid down by Mr Cobden himself, but without
adopting his slashing unproved totals, the extent to which colonial trade
is criminally accessory to the financial burdens of the United Kingdom,
(not, by the way, of the empire of which they form a component part,) it
behoves us now to establish the proportion in which we are taxed for
foreign trade, for there is clearly more than one vulture preying upon the
vitals of this unhappy land.

We established, in our September number, an army cost of about L.1,200,000
against foreign trade for Gibraltar, Malta, the Ionian Islands, Singapore,
Penang, &c. We may add, as a very low valuation, in the absence of
accounts, L.250,000 more for the war with China. Of the estimates for the
navy, L.6,322,000, and ordnance, L.1,849,000--total, L.8,175,000;--we are
fully entitled to charge about three-eighths to foreign commerce, or say
L.3,000,000. The numerous and extensive naval stations kept up for the
protection of our foreign commerce exclusively, together with the
Mediterranean, Levant, and Spanish coast naval expenditure, to no
inconsiderable extent for the same object, will sufficiently justify this
estimate. We have apportioned one million of the naval and ordnance
estimates for colonial purposes; one million more may be safely placed to
the account of the slave trade; the remainder, L.3,175,000, is certainly
an ample allowance for home naval stations, Channel fleet, if there be any,
Mediterranean and other naval armaments, so far as for political objects
only. We remain, therefore, for foreign trade with--

Garrisons, Gibraltar, &c., and reliefs at home, L.1,200,000
War with China, 250,000
Navy and Ordnance, 3,000,000
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Total cost of foreign trad