The Montgomery Convention some days since, perceiving the vast extent of the commercial interests involved, deemed it policy to assure the commercial world that they guarantee the freedom of the Mississippi, “in times of peace.” This reservation implies a right of the rebel Confederacy over that river—an assumption as unfounded as it is impudent, and one which will not be conceded for a moment, either by the general government or by any one of the half dozen States directly interested in its uninterrupted navigation.

But even since the promulgation of this guarantee, with a reservation, Louisiana has declared her purpose to ignore it. She assumes the right to exact tribute from all comers, and has given public notice that, after the 4th of March, no goods shall pass over the waters of the Mississippi, through her territory, without the payment of such duties as she, in her generosity, may levy.

This is more than an act of war against the government of the United States. It is a blow struck at every State and every Territory bordering on that river and its tributaries. Even should the General Government submit to this indignity, the millions of people to be directly affected by it, will not. It would bring down upon the usurping State an avalanche of armed men, who would promptly compel, at no matter what cost, the reopening of this great national highway.

And this question Louisiana seems determined shall be tried. Better that she herself were cast into the midst of the sea, than defy the wrath of the great northwest.