AS the Chroniclers of Naval Transactions, the periodical duty of Retrospect on our past labours affords us that cheering gratification, which will always result from labours honestly pursued, with views of general good to all within their sphere of action; with views not formed of wild theories of human perfectability; mere schemes of the closet applied to active life; systems of abstract reason to oppose the passions of mankind; delusive dreams of inexperienced theorists, at which the philosopher of the world can only smile–and which the artful Seditionist only projects with views of gain, at the expense, and in many instances the ruin, of those who trust him. Not such are our labours.–As the Chroniclers of Naval Transactions, and especially of those in which the interests and welfare of Britain are immediately involved, our vigilance, in conjunction with that of our active and intelligent coadjutors, has been directed to various subjects of relative importance, and to consequent suggestions, either of present or future adoption.

In the Regent's Speech at the close of the last Session of Parliament, we are assured of the pacific disposition of the Foreign Courts–we are willing to rely on it–and wish to see the advancement of Trade and Commerce, the chief objects, as they are indeed the chief interests, of a state of Peace.