The Times

Wo have heard the cry of ;Hard Times" so long, that some begin to be di6couroged,and have ceased to look for any material alteration tor the better. Such, we apprehend, wiïl soon find tlicir conclusions to be incorrect.-. Thiiigs are shaping themselves maierially for the beiter. Several hundred rotten Banks have burst up,nnd lliecurrency, what there ia of it, is what rvery one has been wishing for - Gold and Silvcr, or thcir equivalent. We dip not see how any one can grumble at that. But money is fnid lo te -neer novv thon it evrhas been in Michigan. VeJI,what oflhat? Specie has been imponed imo the country to tlienmount of SL7.0üo,G0ü in a yror or a Jïttlo j more; and some of it wijl get out lo tlio West. It is so plenty in New York that the Banks are unnble to dücount a' the legal rata of interest, becnuse private cupituliets will loan at fo'.r and five per ceit. Another tliing that will help us ia the revival of emigration. As business revives at lije East, furmers are enabled to sel iheir farms there and make purchases here- thua bri.iging accessions, of capita), labor, and knowledgc.Il is supposeci ;he recent alteraüon of the British Canadi-u Tiiriff wilj opérate favorably for the interests of the bordering States. But lo whatextent cannot be fully determined but by experienre. We are inclined lu think that wlieat, iindèr ihe nevv specie bnsis of pricea and labor, ivill bring a remunera! ing prlce, and someivh.it more. Thus returmng prosperity may be anticipated by all classes except one-- those laboring iinder heavy Üabilitit-s contracted during the titne of speculation. The interest on these is unnually auinenlinor the burden of the debtor, while tho property for which his obligationa were given hos depreciated often to a mero trifle. Nor is there inuch hope of any considerable rise of real eslate, until severa! huudred milhons of paper money can be manufacturrd again. Dut the number nnd liabjlities ofthisclass of deblrs will be g'adually diminishod by baukrnptcy, ennipromise, partial payments, and exchanges of propertv.As the farmers nre by fur the most numerons poriioH of the community, we cannot but hope, that as they enier npon this more favorable sta' e of th'ngs, they will Jearn the siiperiority of cash transnctions over the old-fiisliioned credit sysiem, and by making theireales and pnrclinses for ready pay only, thus establi.sh the caeh iyslem of business as the prominent one of the communiiy. {L Accounts from the Sandwich Islands stnte thni ihe recent act of session of the Islands to England was effected in the most indecent and insulting manner. Lord George Panier, Captain of II. B. M. ship Curysford, ihreatoned to bombard the town if his demanda of heavy pecuniary claims were not complied with iu twenly-four hours. The Kiog, being unub'e to pay the sums, or to resist, delennincd to throw himself on the g-enerosity of the British nation. The protest of the King nainst thisact of usurpatation has been received at Washington. The independence of the Sandwich Islnnds has been ncknowledged, it is slated, by this country, and England, ond sonie other nations. The comincrceof the Is'ands with this country is considerable. About 200 American vrss-els arnvo there annually . In case the canal uniting the two oceans should be completed, they will become a very imporiant station. {L?= Rev. Dr. Hill said in the General Assembly, that if he had 500 Slaves in Virginia, he would not set thein free under present, cir cumstatices. lih; was ennvineed that o 6lave wlio liad a good master, was belter off than if set free. At any rate, under existing circurnstances, it would be unwise tb eet slaves loose, lor the name of liberty, and for nothing else." Such is tho doctrine taught by one of the most 'venerable fathers' of the Presbyterian church .