. The East India and Hudson's Bay Companies, the traders to China
and the Indian archipelago, the Australian and New Zealand colonists,
together with their connexions at home--in a word, all those who are
desirous of shortening the tedious and perilous navigation round Cape Horn
and the Cape of Good Hope--would be benefited by the construction of a
railroad; which, by making Panama an entrepot of supplies for the western
shores of America and the islands in the Pacific, either in direct
communication with Great Britain or the West India colonies, our
manufacturers would participate in the profits of an increased demand for
European commodities, which necessarily must follow the accomplishment of
so grand a design.

* * * * *

TWO DREAMS.

The Germans and French differ more from each other in the art and mystery
of story-telling than either of them do from the English. It would be very
easy to point out tales which are very popular in Paris, that would make
no sensation at Vienna or Berlin; and, _vice versa_, we cannot imagine how
the French can possibly enter into the spirit of many of the best known
authors of Deutschland. In England, we are happy to say we can appreciate
them all. History, philology, philosophy--in short, all the modes and
subdivisions of heavy authorship--we leave out of the question, and
address ourselves, on this occasion, to the distinctive characteristics of
the two schools of _light_ literature--schools which have a wider
influence, and number more scholars, than all the learned academies put
together.

In this country an outcry has been raised against the French authors in
this department, and in favour of the Germans, on the ground of the
frightful immorality of the first, and the sound principles of the other.
French impiety is not a more common expression, applied to their writings,
than German honesty. It will, perhaps, be right at starting to state, that,
in regard to decency and propriety, the two nations are on a par; if there
is any preponderance, one way or other, it certainly is not in favour of
the Germans, whose derelictions in those respects are more solemn, and
apparently sincere, than their flippant and superficial rivals. Many
authors there are, of course, in both countries, whose works are
unexceptionable in spirit and intention; but as to the assertion, that one
literature is of a higher tone of morals than the other, it is a mistake.