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 the Gulf of Mexico, across a continent of more than five hundred leagues in extent which separates the two seas. The longest railroads which have been constructed up to the present time are in America.

But what most astonishes me in the United States, is not so much the marvellous grandeur of some undertakings, as the innumerable multitude of small ones. Almost all the farmers of the United States combine some trade with agriculture; most of them make agriculture itself a trade. It seldom happens that an American farmer settles for good upon the land which he occupies: especially in the districts of the far west he brings land into tillage in order to sell it again, and not to farm it: he builds a farmhouse on the speculation, that, as the state of the country will soon be changed by the increase of population, a good price will be gotten for it.

Every year a swarm of the inhabitants of the North arrive in the Southern states, and settle in the parts where the cotton-plant and the sugar-cane grow. These men cultivate the soil in order to make it produce in a few years enough to enrich them; and they already look forward to the time when they may return home to enjoy the competency thus acquired. Thus the Americans carry their business-like qualities into agriculture; and their trading passions are displayed in that, as in their other pursuits.

The Americans make immense progress in productive industry, because they all devote themselves to it at once; and for this same reason they are exposed to very unexpected and formidable embarrassments. As they are all engaged in commerce, their commercial affairs are affected by such various and complex causes, that it is impossible to foresee what difficulties may arise. As they are all more or less engaged in productive industry, at the least shock given to business all private fortunes are put in jeopardy at the same time, and the State is shaken. I believe that the return of these commercial panics is an endemic disease of the democratic nations of our age. It may be rendered less dangerous, but it cannot be cured; because it does not originate in accidental circumstances, but in the temperament of these nations.