The text of the Treaty entirely supports the Times' telegraphic
summary of the settlement agreed upon as to the Alabama dis- pute, which we described to our readers a fortnight ago. In relation to the fisheries, the Treaty gives to the fishermen of the United States full power to fish (for the ten years, which is the duration of this part of the Treaty) on the coasts of British North America, without any restrictions as to the distance from the shore,—but this liberty applies only to sea-fishery, not to salmon, or shad, or shell-fish fisheries, the river fisheries being reserved exclusively for British subjects. In return, British subjects may fish in like manner on the shores of the United States down to the 39th parallel. The balance of advantage being, as main- tained by Great Britain and denied by the United States, in favour of the United States, a Commission is appointed to esti- mate the value of it (if any), and such a sum is to be paid down for it to the Dominion as the Commission decides.
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