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tected state of our carrying trade has produced on our tonnage; and, without troubling you with the great loss which our ship-owners sustain in the almost total loss of foreign commerce, it is only necessary to call your attention to the inclosed table, prepared and published by one of the best informed commercial journals of this city, showing the loss of the carrying trade on the imports and exports of this city alone, by which you will perceive, that while during the quarter ending June thirtieth, 1860, we imported and exported over sixty-two million dollars in American vessels, and but thirty million dollars in foreign vessels; we have in the corresponding quarter of this year only twenty-three million dollars by our own ships, while we have sixty-five million dollars by foreign vessels. The intermediate periods show a most painful decadence of our shipping interest and tonnage by transfer and sale to foreign flags, which, at this time of considerable commercial activity, does not