ry natural, if it were
only from the simple fact that we always most desire what is out of our
reach. Since the Americans have come over in such numbers to this
country, our Herald's Office has actually been _besieged_ by them, in
their anxiety to take out the arms and achievements of their presumed
forefathers; this is also very natural and very proper, although it may
be at variance with their institutions. The determination to have an
aristocracy in America gains head every day: a conflict must ensue, when
the increase of wealth in the country adds sufficiently to the strength
of the party. But some line must be drawn in this country, as to the
admission of Americans to the English Court, or, if not drawn, it will
end in a total, and therefore unjust exclusion. As but few of the
Americans can claim any right to aristocracy in their own country from
acknowledged descent, I should not be surprised if in a few years, now
that the two countries are becoming so intimately connected, a reception
at the English Court of this country be considered as an establishment
of their claim. If so, it will be a curious anomaly in the history of a
republic, that, fifty years after it was established, the republicans
should apply to the mother country whose institutions they had abjured,
to obtain from her a patent of superiority, so as to raise themselves
above that hated equality which, by their own institutions, they
profess.

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Note 1. English Capital Invested.--It is but _fair_ to give the English
who have invested their money in American securities, some idea of what
their chance of receiving their principal or receiving their interest
may be. As _long_ as it depends upon the faith of those who have
contracted the debt, their money is safe, but as soon as the power is
taken out of their hands, and vested in the majority, they may consider
their money as gone. I will explain this--at present the English have
vested their capital in canals, railroads, and other public
improvements. The returns of these undertakings are at present
honourably employed in paying interest to the lenders of the capital,
and if the returns are not sufficient, more money is borrowed to meet
the demands of the creditor; but there is a certain point at which
credit fails, and at which no more money can be borrowed; if then no
more money can be borrowed, and the returns of thei