Supposing like many others, the supply of Peruvian guano was like the Ichaboe, destined to run out--that is all be dug up and carried away; we inquired of an intelligent captain of a ship just returned with a load, how long it would be before the supply would be exhausted. "Exhausted!" said he, with a look over the gangway, as much as to say how long would it take to exhaust the ocean with a pint cup; "why not in one hundred years, if every ship afloat should go into the trade, and load and unload as fast as it would be possible to perform the labor; no, not from the Chincha islands alone. Exhausted! they never will be exhausted." With due allowance for the captain's enthusiasm, we may be very certain from the government surveys, the quantity is so great, that no probability exists of the supply being exhausted until all the present inhabitants of this earth have ceased to move upon its surface. We may be certain of another fact; that unless we commit a great national wrong upon Peru, by seizing upon some of her guano territory; a thing which the sober second thought of this nation will never sanction; we shall not be able to obtain the article only through her government agents, at such prices as her rulers think proper to affix to it. While the demand and the result of the use of guano continues as at present, there is not much probability of any material change.
The Peruvian Government are, of course, anxious to sell all that the world want, and are willing to pay for at remunerating prices. The Peruvian minister, in reply to the Secretary of State at Washington says:--"The Peruvian Government, in leasing out its rights and interests, as a proprietor of the article, adopted the only system that was supposed likely to create a demand for guano; while, on the other side, it was bound to leave the consignment as security, in the hands of those persons who had hazarded their capital in meeting the heavy expenses attending the process of freighting, and in making the advances which were required to facilitate the exportation and construct the depots. Far from establishing a selfish monopoly, which would have proved injurious to its own interests, or fix a high, deliberate, and conventional price upon the article, it has only aimed to secure a net profit, reduced to the lowest possible standard, exceeding very little the actual amount of expenses; and there have been accounts of sales rendered exhibiting both loss and damage.