Pearl River would be an admirable spot for a dozen pleasant sinecures, and the expenditure of three or four millions of money.

It seems to me, therefore, that it would be a dear bargain.

For the accommodation of merchant steamers and ships and their repair, Honolulu offers sufficient facilities.

There are ingenious American mechanics there who have even taken a frigate upon a temporary dry-dock, and repaired her hull.
[Illustration: HULA-HULA, OR DANCING-GIRLS.] But justice, kindly feeling, and a due regard for our future interests in the Pacific Ocean ought to induce us to establish at once a reciprocity treaty with the Hawaiian Government.

We should lose but little revenue; and should make good that loss by the greater market which would be opened for our own products, in the Islands.