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The panic in England about Canada.

This panic appears to us to be more utterly ridiculous than anything we ever heard of. The English Government can build enough iron gunboats in Canada, in six months, to send all Abe's navy to Davy Jones, and render it impossible for the Yankees to cross the Lakes of the St. Lawrence. At the same time the Yankees have some four or five times as much as they can do in conquering us. They could do nothing in Canada if they were on foot there to-morrow. Let John Bull put an iron fleet at once upon the Lakes, and he will have no cause to fear. Doubtless secret fears for Canada have had their effect in preventing our recognition, although we believe we should not have been recognized though Canada had never existed.

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