It is universally felt through the Southern States, that (so called) African slavery, as an institution now existing, is essential to the well-being of those States. It is universally felt that the abolition of that institution, would not only entail ruin upon the Southern States, but would calamitously affect foreign nations. The institution has, consequently, been defended upon politico-economical grounds; and the arguments urged in this respect are most powerful, and, indeed, unanswerable.