Full text of The Merchants' Magazine and Commercial Review : December 1856, Vol. XXXV, No. VI

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HUNT’S

MERCHANTS’ MAGAZINE
**»

COMMERCIAL REVIEW.
DECEMBER,

1 85 6.

Art. I.—TIIE PACIFIC RAHWAY*
A f e w years since, when W h itn ey started the scheme o f a railway to
the Pacific, he proposed to com m ence at Chicago, but the stream o f emi­
gration, bearing with it the arts o f life, has m oved so rapidly that twelve
lines now radiate from Chicago.
The iron way has crossed the prairies o f Illinois, has spanned the Mis­
sissippi, intersecting that river at no less than six points— six lines are
now advancing from the banks o f the Mississippi, westward, and in two
years more will strike the Upper Missouri, and give easy access to the
prairies and hill-sides o f Kansas and Nebraska, the future garden o f the
Union.
One-fifth o f the distance from Lake M ichigan to the Pacific is now
achieved, and the future starting-points for the Pacific Railway will be
St. Paul, Fort Kearney, or Fulton, on the borders o f Texas.
Twenty-six thousand miles o f railway have already been built in the
Eastern section o f the Union, and in some sterile States, like Massachu­
setts, the average distance between lines o f railway is less than six miles.
W e have not yet reached with the rail the territorial center o f the Union,
which lies on the frontier o f Kansas, and there is m ore to be done. The
annual incom e o f our nation from agriculture, manufactures, commerce,
and fixed investments, exceeds four thousand millions.
Our population
has risen to thirty millions, and is three millions greater than that o f
England, Ireland, and Scotlan d; the annual grow th o f that population
* Report of tlie Committee of Congress. Minority Reports o f lion. Messrs. W ood and Kid w e ll.
Reports of the Secretary of War, o f Governor Stevens, and the corps of officers detailed to survey
the Northern Routes.




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The Pacific Railway.

exceeds a million. W e have colonized the shores o f the Pacific with
young and vigorous men, full o f ambition and enterprise. Our grow ing
population is yearly pressing westward towards the natural pastures o f
the W e s t; and the question now arises whether we may not construct
one, two, or even three lines o f 2,000, or 4,000, or even 6,000 miles
across the remaining two-thirds o f our territory at distances 500 miles
apart, and whether such lines do not demand the countenance o f the g ov­
ernment.
W h en California was opened, the first settlers from Massachusetts took
passage in whale-ships and merchantmen, whose average passage was six
months. Clipper-ships soon reduced the journey to four months ; steam­
ers to the Isthmus brought it to one month.
The Panama Railway has
since made it three w eek s; and now railways across the continent will
diminish it to three or four d a y s; and when, half a century hence, the
population o f these States shall have risen to an hundred millions, and the
seat o f governm ent has been transferred to the territorial center, the
citizens from the outposts and extreme frontiers may then m eet at the
capital in forty-eight hours, from their respective homes.
The W estern lines now in progress, and those lately built, have de­
monstrated the efficacy o f grants o f land through a sparsely settled region
to carry forward a great enterprise, for they allow its projectors to par­
ticipate in the enhanced values they create.
The grant to the Illinois
Central line has enabled the governm ent to double its price for lands al­
most worthless, and to cover them with an active and prospering popula­
tion, while the railway has increased tenfold the value o f the grants made
to the company. Similar grants have been made with similar effects to
the lines o f Iow a and Missouri, for lands rise and population presses in,
even in advance o f the railways in progress.
The great importance o f a line to the Pacific is generally con ced ed ;
but as there are some even in the great council o f the nation who do not
appreciate its advantages— who are disposed to overrate the physical
difficulties in the way, let us present a brief summary o f the arguments.
It will bind together this vast republic, making the distances to a com ­
m on center therein virtually less than when it was confined to thirteen
States. It will insure the defense o f the country. Armies, seamen, m ili­
tary, and naval stores, may be transferred from ocean to ocean in less
time and with less expense, than wore required between the ocean and the
lakes in the last war with England.
The passengers m oving annually between the Atlantic States and Cali­
fornia and Oregon last year, 52,000 in number, will, by the stimulus o f
railways, be at least doubled, and avoiding the tedious detour by the
feverish shores o f the Gulf, will pass to their respective destinations under
a temperate climate, by the most expeditious route, and without sacrificing
their constitutions or their lives.
The Pacific Railway will give a direct and quick transit to mails, which
now require an annual expenditure not far from a million.
It will open between the two oceans a quick and sure conveyance for
gold, dry goods, boots, shoes, and leather, hats, jew elry, stationery, cut­
lery, liquors, and other articles o f merchandise, whose value exceeds
three-eighths o f a dollar per pound, and for all light and perishable com ­
modities.
These articles are now carried in merchant-ships or steamers as meas­




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661

urement goods, at certain rates per ton o f 40 cubic feet.
Such goods
rarely weigh more than 30 lbs. per foot, and the charges to which they
are subjected for freight, wharfage, insurance, interest, and deterioration,
will necessarily give the traffic to the railway.
In addition to such merchandise, most articles o f provisions which
suffer from confinement in the hold, or exposure to a tropical climate, will
take the route o f the railw ay; and whenever sugar, rice, coffee, flour, or
other staple articles rise two cents per pound, they will leave the ocean
for the railway.
The railway will thus engross more than two-thirds o f the values which
pass betweeu the old States and the Pacific, leaving the coarser articles
o f w ood, coal, iron, and agricultural products to pursue the ocean route.
But there are other and important duties for such lines o f railway—
they must constitute the great routes between Europe and Asia, saving at
least one-half the time now required for the transit o f passengers. Specie,
silks, muslin, and other costly articles, will pursue this route ; and if Asia
continues to draw, as she does, forty millions o f silver from Europe
annually, the freight on this alone must be an important item to the
railways.
But there are tw o other ways in which the importance o f such lines of
railway presents itself most prominently. I f even two or three o f them
should be made, each must becom e a highway for the vast emigration
which annually crosses the Mississippi.
Before these lines can be opened, the land o f W isconsin, Iowa, and
Missouri will be absorbed, and at least half a million o f people will an­
nually press westward, and follow the lines towards the Pacific. It is safe
to assume that at least 100,000 will annually ascend each railway as it
advances, even if three should be constructed, and plant themselves on its
borders, settling the land on each side and supplying produce and passengers for the railway. Assuming each passenger to pay but 2J- cents per
mile, and to furnish an equivalent in freight and return passengers, the
local emigration must contribute at least $5,000 yearly to each mile of
railway.
But there is another branch o f com m erce to be opened by such lines of
railway which deserves our attention. It is the local com m erce o f Cali­
fornia and Oregon with the interior in mails, passengers, and freight, and
the vast com m erce which must spring up between the States o f Iowa,
W isconsin, Missouri, Nebraska, and the other prairie regions, with the
seashores and fisheries o f the Pacific, and with the pineries and cedar
groves o f Oregon and California.
The prairies require materials for
fences and building.
Oregon and California can supply them with pines,
whose height -of 100 to 300 feet is scarcely credited by Eastern men.
California requires cattle, beef, mutton, butter, cheese, and other products
o f the prairies, in exchange, and those vast pastures which for centuries
have sustained, summer and winter, hosts o f buffalo ranging northerly
beyond the 49th degree o f latitude, and finding a winter home even on
the most northern route, can supply the wants o f California, while the
smoked salmon o f the coast will furnish an agreeable exchange for the
hams and sausages o f the prairies. The W estern States, instead o f look ­
ing to the East for sperm-oil, tea, coffee, rice, and sugar, will draw them
via the Pacific coast.
The aggregate o f this com m erce, swelled by the accessions which must




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The Pacific Railway.

com e to it during eight years o f construction by the grow th o f population,
will give an adequate support not merely to one but to at least three rail­
ways, by the time they are completed. The South line most remote from
the current o f trade and from the direct route between Europe and Asia,
and penetrating an inferior region, will doubtless earn the lea st; but
what it loses, will flow on to the m ore northern routes and swell their
revenues.
D uring 1855, no less than 52,000 passengers, by actual returns, in­
cluding a small estimate for the overland route, passed between California
and the Eastern States. Nearly all these would more readily have taken
the railway at St. Paul or Council Bluffs.
These paid an average o f
$135 each, or $1,000,000.
The uniform effect o f a railway is to at least
double the traffic, and we have thus a single item o f $14,000,000 to sus­
tain our Pacific railways.
Assuming three lines o f railway o f 6,000 miles between St. Paul and
P u get’s Sound, Council Bluffs, or Fort Kearney and Benicia, Fulton and
San D iego, the government could well afford to guaranty to each $000
per mile for the conveyance o f mails, troops, and munitions o f w a r ; for
the expense they already incur in communicating with California, Oregon,
Santa Fe, and other W estern posts, for mails and transportation, is already
approximating to the amount.
The aggregate o f these sums to be drawn from the treasury is threeand-a-half millions o f dollars.
The g old from California at 2 per cent only (less than the present
freight and insurance) will pay over one m illion ; and the silver from
Europe to Asia, with occasional remittances from Australia, may be ex­
pected to supply another million o f dollars.
The express freight will yield at least tw o millions more. The com ­
m erce between Europe, the old States, and California has, during some
years, employed 400,000 tons o f shipping, transporting at least half a mil­
lion o f tons. If we assume, for the dry goods, boots, shoes, and clothing,
stationery, cutlery, silks, teas, spices, liquors, jew elry, and perishable arti­
cles, but 50,000 tons, at $ 5 0 per ton, for the Pacific railways, we have twoand-a-lialf millions more.
I f to this we add hut $4,000 per mile for the
local way traffic attendant upon the railways as they progress, we add
$24,000,000 to the am ount; and allowing but $1 ,000 per mile for the
com m erce between the inland States o f the W est and the Pacific, and we
add $6,000,000 more, and find an aggregate for the Pacific railways o f
$9,000 per mile, or $54,000,000.
A lthough this aggregate may appear large, the estimated receipts per
mile for these great national thoroughfares, nearly 500 miles apart, are
actually less than those o f many o f the rival lines o f Massachusetts, less
than those o f many o f the new lines terminating at Chicago, and o f the
lines across the Alleghanies, viz., the Baltimore and Ohio, the Pennsyl­
vania Central, and the Erie railways.
The net result from this traffic would be at least 50 per cent, or nine
millions for each line o f railway, for the business could be done on each
by less than six trains d a ily ; and if we estimate the average hauls for the
w ood at 100 miles, and allow $1 25 per mile for the average cost o f run­
ning trains, and this is from 25 to 50 per cent in excess o f the cost in the
Atlantic States, the cost o f running will com e within 50 per cent o f the
estimated incom e. Nine m illions will pay six per cent on a possible cost




The Pacific Railway.

663

o f $150,000,000 for each line o f railway, and 9 per cent on the m ore
probable cost o f 8100,000,000.
H ow small do even such sums appear, contrasted with the resources o f
a country whose annual revenue amounts to 875,000,000, whose railways
annually earn $100,000,000, whose shipping annually earns $150,000,000,
whose foreign imports and exports annually exceed $600,000,000—
doubling within ten years— and whose domestic com m erce is at least
double o f its foreign !
W e have considered some o f the advantages which would result to the
country from the construction o f the lines proposed; hut we have not
pictured the growth, expansion, or development o f the vast interior, which
must attend such a m ovem ent; the increase o f value that will be given to
a thousand millions o f acres, to the mines that will be opened, the forests
cleared, or the trees converted into houses, tools, and carriages. A n
accession o f three-eighths o f a dollar to the value o f each acre in the
public domain would m ore than pay the assumed cost o f three lines o f
railway.
But in addition to these general results, each line o f railway has its
separate advantages. The north route will connect the head o f Lake
Superior with Puget’s Sound, and thus reduce the cost o f transit o f heavy
articles for one-third o f the distance to $10 per ton.
It will also on its
way strike the Mouse River and Red River o f the W est, and open a steam­
boat navigation o f at least 400 miles into the British dominions, through
the pineries and fertile land— at least 50,000 square miles— o f the Mouse,
Assiniboine, and Red rivers, which may eventually be carried to Hudson’s'
Bay.
Again, it may intersect the U pper Missouri River, near Fort Union, and
deliver to it for the treeless prairies o f that river the pines o f Lake Supe­
rior, Minnesota, and the rivers enumerated— to say nothing o f Oregon—
which may float down the Missouri in rafts or flat-boats to their destina­
tion.
It touches, too, long lines o f steamboat navigation on the Columbia
River. Again, it opens to the settler vast pastoral regions, the Crow and
Black Feet valleys and hills, which the chief so happily described to Capt.
Bonneville as the true country, the paradise o f Indians.
It crosses the
divide between the Missouri and the Columbia at spots so level that
Lieut. Mullan, one o f the corps under Stevens, was able to trot his horses
in a wagon across the summit on a natural road, and between December,
1853, and March, 1854, crossed the summit, by different routes, no less
than six times, without any inconvenience from snow, and repeatedly
found less than two inches at the summit.
A n d here let us remark, the country is under obligations to this officer,
who has distinguished himself in the survey by his intrepidity, sagacity,
and zeal, and by the ability he has shown in his dispatches.
Such men
are the parties to locate and construct the Pacific railways.
Let me extract from his Report, (folio 1, part 2, page 342,) a brief de­
scription o f the D eer L odge Park, near the summit, between the waters
o f the Missouri and the Columbia, and a sketch o f one o f his passages
across the sum m it:—
December 31,1853. Commences clear and mild. Every one turned out at an
early hour this morning, and, having breakfasted before sunrise, we were enabled
to make an early start.




664

The Pacific Railway.

A t this point we left the river entirely, and followed up the valley of a small
willow run, which was from a mile to a mile-and-a-half wide, affording an excel­
lent road. W e found the valley had been burnt over recently, showing that
Indians had preceded us, probably the Nez Perces. The mountains on each side
were high, and covered with the pine to about midway of their slopes. Arriving
at the head of this willow river, we crossed low, clay ridges, the latter of which
formed the dividing ridge of the waters of the Wisdom River and those of the
Hell Gate fork of the Bitter Root River. This ridge forms no obstacle what­
ever to the passage of wagon trains, as the ascent and descent are both easy and
gradual. Arriving on the summit o f this divide, we could see to the north a
high range of mountains, which the guide pointed out as being the ridge along
the right bank of the Hell Gate fork. To our right lay a second, but low ridge,
which separated a small tributary of the Hell Gate from the main stream, and
ended abruptly in a beautiful prairie valley. This ridge, as also the one in the
distance, was clad with the pine. On the dividing ridge we found snow two
inches deep, though no snow was to be seen in the valley below ; the only snow
besides this being on the higher peaks on the ridges around us. Leaving this
divide, we fell upon a small creek, whose waters flow into the Hell Gate River.
Having traveled fifteen miles, we encamped on a small stream running from the
mountains to our left, where we found good grass, wood, and water. W e entered
to-day the granitic region, as shown by the large detached masses and bowlders ;
from the mountains passed along the trail, after crossing the dividing ridge. The
weather to-day has been exceedingly warm and summer-like ; we found the
weather much warmer on the waters of the Hell Gate than on those of the Mis­
souri.
Thus did the close of the year 1853 find us once more on the waters of the
Columbia, which we all greeted with feelings of joy, as we now had no apprehen­
sion of danger, either from cold or the snow. W e had all supposed that our
labors on the expedition would have been closed before the end of 1853, but we
still found ourselves traveling through the mountains in midwinter, apparently
with as little concern as if it had been midsummer.
January 1, 1854. Commences clear and pleasant. W e resumed our march at
8 A . M., which continued over a series of low rolling ridges, through whose val­
ley flow small mountain streams, all of which, when open, empty their waters into
a creek called the Spear Pish Creek, which, eight miles from our camp o f last
night, we crossed and found frozen to the bottom. This creek is so called by the
Indians, who, some years ago, caught fish from its waters by spearing them.
Journeying a short distance from this creek, and crossing a series of low sand
ridges, we reached a long, level, and beautiful prairie called the Deer Lodge— a
name given it from the great number of deer found in and near its vicinity. This
place is a great resort for the Indians west of the mountains at all seasons, and
especially -when returning from the buffalo hunt, where they remain several
weeks recruiting their animals, finding the greatest abundance of rich and luxu­
riant grass. Through it flow two large streams, one of which is the main stream
of the Hell Gate fork of the Bitter Root River, and a great number of prairie
streamlets— thus rendering it an excellent recruiting rendezvous for the Indians,
with their large band of horses. It is about fifty miles long, north and south, and
from twelve to fifteen wide— bounded on all sides, save on the east, by high, pineclad mountains, the summits of which alono are found covered with snow. A
very slight fall of snow covered the valley. It is noted for the very small quan­
tity of snow found on it during the severest winters known in the mountains,
■which gives it the principal advantage for wintering over the many prairie val­
leys of the mountains. Its many streams are all lined with timber, consisting of
the cotton-wood, birch, willow, and the black-haw. Finding our animals very
much jaded by their long march, we concluded to remain here a day to rest and
recruit them, where they found an abundance of excellent grass. W e saw, when
entering this valley, large bands of antelope feeding. These, with a few mountain
sheep and goats seen on the highest peaks of the mountains, constituted the game
of the day. W e did not exert ourselves to secure any, since we had a great




The Pacific Railway.

665

quantity of elk meat with us. The weather to-day has been exceedingly mild
and summer-like, at noon being very warm. Traveling a distance of eighteenand-a-half miles by a very excellent road, we encamped on Deer Lodge Creek,
where we found good grass, wood, and water.
In other passages he eloquently describes a series o f rich valleys on the
way to the mouth o f the Columbia, in several o f which oats, wheat, and
potatoes grow luxuriantly, and which, he predicts, will soon becom e pop­
ulous.
There is, too, strong reason to presume, from the information which
reached Lieut. Mullan, that the northern line may be materially improved
and carried further from our northern boundary, by a line crossing the
Missouri below the great bend, and traversing the country o f the Crows
and Black Feet Indians across the prairies.
THE CENTRAL ROUTE.

A central route for a Pacific railway commences at Fort Kearney or
Council Bluffs, on the Missouri, crosses the prairies, ascends the South
Pass, approaches the Salt Lake, enters the valley o f the Sacramento, and
descends to the Bay o f San Francisco.
The country is already familiar
with most o f this route, from the successful explorations and vivid descrip­
tions o f Col. Fremont.
This route has, too, the advantages o f being the most direct line from
Philadelphia, Baltimore, Cincinnati, and St. Louis, and may easily con­
nect with six lines, which are progressing across Iowa and Missouri toward
the territorial center o f the U n io n ; it passes near that center also, and
opens to com m erce the heart o f the great prairie.
Its route is easy, and
few physical obstacles m ore serious than those encountered by a railway
along the Hudson, are found to exist. Its only drawback is a high sum­
mit, approached, however, b y easy grades.
A third route, but partially explored, commences at Fulton, crosses the
desert and Llano Estocado to New Mexico, then crosses the R io Bravo,
and winds through several passes, by the Gila and Colorado, to San Pedro
and San Francisco.
This route, although out o f the direct course o f
trade, makes a m ore direct connection with the Southern cities, and opens
to com m erce the western borders o f Texas, and the mines, vineyards, and
pastures o f N ew Mexico. W h ile its revenue and the facilities it affords
must fall below those o f the other lines, and its grades and summits are
unfavorable, the South may reasonably ask a charter and grant o f lands
for its construction, if they are accorded to the Northern lines, and efforts
will doubtless be made, by more minute survey, to reduce its unfavor­
able summits and gradients before active capital is embarked in its con ­
struction.
REPORT OF THE SELECT COMMITTEE OF THE UNITED STATES HOUSE OF
REPRESENTATIVES.

A t the last session o f Congress, the committee o f the House upon the
Pacific railways, made a report, accompanied by a bill establishing three
lines to the Pacific upon the routes we have indicated— subject, however,
to the provision that the Central line shall com m ence at some point near
Fort Kearney, where the lines crossing Iowa and Missouri may unite.
The bill reported grants for the Northern railway 20 alternate sections




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The Pacific Railway.

per mile, from St. Paul and Lake Superior to the 100th degree o f longi­
tude ; thence to Puget’s Sound 40 alternate sections per mile, with 20
sections m ore per mile for a branch to W illam ette valley.
F or the Central line, it grants 30 alternate sections per mile from Fort
Kearney to a point 200 miles w est; thence 80 alternate sections per mile
to the frontier o f California; and thence to the coast, 6 such sections for
each mile o f railway.
For the Southern line, it grants 40 alternate sections per mile from the
frontier o f Texas to the 118th degree o f lon gitu de; and thence 10 alter­
nate sections to the W estern terminus.
The act also requires each com pany to erect a telegraph and to convey
the m a ils; to give precedence to the United States in the use o f the tele­
graph and transportation o f troops, indicates an annual payment o f $500
per mile as a proper compensation for the mails and a limited amount o f
transportation.
It grants also ample land for tracks and stations, a n d '
requires the construction o f the lines within ten years, from the 1st o f
January, 1857.
This bill conforms closely to the views taken in this article, and meets
our cordial approbation.
It favors neither South or North, East or W est. It provides not merely
for a Pacific railway, but for the development o f our vast in terior; and,
taking by the hand enterprising companies which have crossed, or are
crossing, the Father o f W aters, it beckons them onward over the prairies
to the golden gates o f the Pacific, and allows them to participate in the
wealth they are to create.
The act is bold in its conception, comprehen­
sive in its grasp, and reflects credit upon the committee.
W e would, however, suggest tw o additions.
The grant o f corporate
power to the several lines, and the further grant o f 4 per cent stock ,
at the rate o f $15,000 per mile for each mile o f railway finished, in place
o f the annual payment for mails and transportation o f $500 per mile, in­
dicated by the act.
The interest upon the stock would amount to $600
per mile, and a small increase in the military and transport service would
give the United States a full equivalent; the principal can be well se­
cured, and the performance o f the duties imposed guarantied by a reserva­
tion o f alien upon the road-bed and railway.
The companies m ight place such stock in Europe, either at par or at a
trifling discount, and the funds thus realized would provide the salaries,
iron, timber, and equipage, and vivify the whole undertaking.
W h ile the companies could thus avail themselves o f the superior credit
o f the Union, the energy, frugality, and sagacity o f individuals would di­
rect the outlay.
Under such provisions, the undertaking would m ove onward with
celerity.
REPORT OF

HON. J. M. W OOD.

It is proper, however, to notice here that the H on. J. M. W o o d , o f the
committee, submits a minority report, in which he proposes that the U n i­
ted States shall issue bonds to the extent o f one hundred millions, and
construct a railway, wagon-road, and line o f telegraph upon the Central
r o u te ; and submits a bill intrusting the work to a board o f commis­
sioners.
The report o f Mr. W o o d displays much ability, and as a railway man




The Pacific Railway.

667

he is entitled to the highest respect. H e is conversant with railways, has
displayed sagacity in their construction under the harsh climate and over
the sterile soil o f Maine, and has honorably acquired a fortune from rail­
way contracts.
It is true, also, that both France and Belgium have built
railways with success, and have selected their routes with remarkable
sagacity, and it is true that the latter country has administered her rail­
way system with m ore liberality, care for the public safety, and benefit to
the people, than any other nation w hatever; but under our form o f g ov­
ernment, we may well fear political favors for political objects, great
delays, and w e should eventually have but one line dragging its slow
length along, in place o f three avenues to our W estern territory.
I f the question were simply this, “ Shall we have one line or none ?”
the able argument o f Mr. W o o d for the Central line would be difficult to
meet. The question would be between the Southern, the Central, and the
N orth ern ; and he well asks, “ In what latitude is the great central mass
o f the population o f this country situate ? In which direction is the cur­
rent o f the m oving population pressing?
The replies to these queries
should have m ore bearing in determining the route than, perhaps, any
other considerations, after the practicability o f the three great routes is
admitted.”
The answer is obvious.
The slave States are but thinly p eop led ; the
density o f population there is, by last census, but 11 to the square mile,
against 22 in the free States; and the great current o f emigrants is not
follow ing the Red River o f Louisiana or the frontier o f M exico, but m ov­
ing Northwest through the great basin o f the Missouri.
Upon another point, the subject o f snow, which seems to alarm or
dazzle the fancies o f Southern gentlemen, upon which Mr. W o o d is com ­
petent to speak, for he has built a railway into Canada, back o f the W hite
Mountains, through a region where snow lies at least eight months o f the
year, and accumulates in the winter to the depth, sometimes, o f 10 to 15
feet, he sa ys:—
Objection has been made in some quarters to Northern or Central lines on ac­
count of the deep snows common to high northern latitudes. This objection has
some plausibility, when we take into consideration the manner in which roads
were located and constructed in the old States, some years ago ; but the observa­
tion and experience of later years have taught engineers and those having charge
of locations, the necessity of elevating their road-beds much higher than was for­
merly the practice, thus avoiding the evil consequences attendant upon hugging
the plain too closely. This improved elevation has resulted in entire relief from
the effects of snow, as experience has shown, beside providing a better drainage,
and not adding materially to the cost of construction.
W ere there any doubt upon this point, the remedy might be further
assured by snow fences or “ snow traps,” which have been successfully
adopted at the North— or, in extreme cases, the lines could be carried
through the mountain passes with side-walls and a roof, like the covering
o f fa lattice bridge, adding but one or two millions to the cost o f the
Northern lines.
But the reports contain no evidence that such precau­
tions will be requisite.
MINORITY REPORT OF HON. Z. KIDWELL.

Mr. Kidwell differs both from the majority and m inority o f the com ­
mittee. W h ile he concedes in his report
that g ood railways from N ew




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The Pacific Railway.

Orleans, St. Louis, Chicago, and the head o f Lake Superior, across the
continent within our country to San D iego, San Francisco, the mouth o f
the Columbia, and Puget’s Sound, in peace and war, would be productive
o f consequences most beneficent both to com m erce, to manufactures, and
the mechanic arts,” he questions the possibility o f any such railways— is
disturbed by the aspect o f arid deserts and treeless plains— o f rugged, snowclad, and solitary mountains, towering a mile or two above the ocean—
by the possible cost o f construction, and the want o f patronage. H e
questions, too, the policy o f governm ent action, and falls back upon the
Southern construction o f the Constitution. It is obvious Mr. Kidwell has
tried to inform himself, but there is reason to fear he has pursued a line
o f inquiry tending to confirm his doubts rather than to demonstrate the
possibility o f the measure, and one m ight almost infer from his report
that he came from one o f those Rip Van W in kle districts o f the South
not yet illuminated by the rays o f science, or that his native courage had
been quelled by some unfortunate railway investment.
His doubts and
his dangers, however, need not disturb any candid inquirer. For instance,
he suggests that it is “ doubtful whether a road located on the best known
route could be maintained from its earnings during the first ten or fifteen
years, even should its builders be willing to sink all their capital and
abandon the road to whosoever would give security to maintain and run
it, and at the end o f that time m oney would have to be obtained to re­
build the whole railroad.”
W ere this to be so, “ it would, indeed, be paying dear for our steamwhistle !”
But Mr. K idw ell breaks down upon the facts which he cites to sustain
his fancies.
W e have pictured sources o f business competent to maintain three dis­
tinct railways, but Mr. Kidwell has overlooked the principal part o f them
— he has not watched the tide o f emigration preceding and following,
like a triumphal train, the M ichigan railways, the railways o f Illinois, and
the railways o f Iowa, raising land 1,000 per cent, and studding their sides
with farms, granaries, and villages— until w e now see 4,000,000 bushels of
grain delivered by rail in a single month at Chicago. H e forgets that Cali­
fornia yields annually m ore than 50,000,000 o f g o ld ; that the prairies re­
quire the pines o f Oregon and Su perior; that countless herds o f buffalo,
elk, and antelope, revel through summer and winter on the rich pastures
o f the plains crossed by the Central and Northern routes.
H e rates the
w hole amount paid in 1855, for freight and passage between the old States
and California, at $5,000,000 to $6,000,000, when the passengers and gold
alone last year, as we have shown, paid $8,000,000— and there have been
years when the freig h t hills alone between those States and California,
have exceeded $8,000,000.
H e tells us that but an insignificant part o f the com m erce o f the United
States is conveyed upon railways, but is not aware that the Erie and
Central railways are fast diverting the traffic from the Erie Canal, and
that there are three Am erican railways— the Reading, Erie, and Baltimore
and O hio— whose aggregate tonnage exceeds the tonnage o f all the im ­
ports drawn from all foreign ports into the United States. A nd when he
tells us, on page 42, “ that $100,000,000 is a sum o f m oney greater, prob­
ably, than is yearly earned by all the shipping o f all the oceans in the
world,” — let us remind him that the shipping o f the United States and




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069

Great Britain alone (over 10,000,000 tons) annually earn more than twice
that amount.
H e tells us that railways are too costly to be introduced into Iceland,
Africa, or Patagonia. But the rich pastures o f the prairies, the noble for­
ests o f Oregon, and golden quartz o f California, are not to be found in
Iceland, Patagonia, or A fr ic a ; and when he objects to plains elevated a
mile above the sea, and rising a mile into the air, does he forget that the
verdant and fertile plains avoid the City o f Mexico, under an Italian sky,
which extend northward to New M exico, are more than a mile-and-a-half
in perpendicular height above the sea, and that the trains which leave
Baltimore and W heeling, Boston and Albany, daily ascend, in the aggre­
gate, two miles into the air, as they pass summits o f 1,000, 1,440, and
2,700 feet above the level o f the sea?
I f Mr. Kidwell imagines that railways require rebuilding once in eight
or ten years, because the Boston and W orcester Railway in the interval
from 1838 to 1848 trebled its cost, let him learn that the Boston and
W orcester Railway was designed as a local road— that it opened long be­
fore it had found the necessary land, stations, or freight-cars— that, after
finding these, it became a section o f the Great W estern line, and was
obliged to expend a million in city lands, bought at prices somewhat
above land on the prairies, viz., $50,000 to $135,000 per aere, or in erect­
ing stations and providing side-tracks, and one or two millions m ore in
providing second tracks and equipments, and substituting a rail o f 60 lbs.
for one o f 35 lbs. to the yard.
The experience o f twenty years under the snowy sky o f Massachusetts
has shown that railroads with an annual expenditure o f $1,000 per mile
upon the track and road-bed, instead o f perishing once in five, ten, or fif­
teen years, may be made progressive, and that an annual outlay o f 20 per
cent on cars and engines will cover ail repairs and deterioration, although
heavy engines and increased speed have accelerated decay. That water
may be conveyed lon g distances, at small expense, in pipes o f lead or iron
to supply engines, and that in no division o f the Central or Northern
routes will the average haul o f w ood exceed 160 miles, or the cost o f
fuel on either o f those lines average so much as the present cost o f w ood
per cord on the Boston and W orcester Railway.
I f thousands o f miles o f railways in Michigan, Indiana, and Illinois have
cost but $30,Or 0 to $35,000 per mile, why should lines across an easier
country beyond them, extending to the head waters o f the Missouri, cost
more, as Mr. Kidwell supposes, than double that amount?
And if the
defiles o f the R ocky Mountains are so easy that the officers o f the United
States could, in midwinter and on natural roads, trot their horses through
them without meeting snow, and find in their valleys rich meadows, pas­
tured in midwinter by countless herds o f horses and cattle, with grass six
inches high, w hy is the expense o f spanning them with railways to exceed
the cost o f crossing the Green Mountains o f Massachusetts and Vermont,
and the Alleghanies o f the Middle States— mountains which in their
awful solitude, and with their rugged and almost inaccessible sides,
frowned down such liberties and discoveries ?
N o man who has been, like us, for twenty years familiar with the rail­
way routes, plans, and profiles on the rocky, and often snow-clad surface
o f N ew England, can glance without admiration at the long levels and
gentle ascents o f the prairie lines, and at the easy passage o f the mount­




The Pacific Railway.

670

ains, where, for one-eighth o f the distance, only a few cuts h alf a mile or a
mile in length, a possible tunnel o f one mile to two-and-a-quarter miles
long, a few banks o f streams as rugged as those o f the Hudson, are the
principal physical obstacles to lines 2,000 miles in length.
The world
may be traversed in vain to find lines so long, so important, so direct, en­
countering so small an amount o f physical im pediments; and the cosmographer would smile at the sensitive delicacy and the maiden scruples
which deter our Southern member from a plunge into the crystal waters
before him.
But let us pass from the fears, the scruples, and refinement o f Mr. K idwell to actual surveys and explorations o f our distinguished engineers in
the field, and to the somewhat singular commentary o f an ardent son o f
the South, the Secretary o f W ar.
REPORT OF HON. JEFFERSON DAVIS.

A n y cursory reader w ho takes up the large and elegant folio volume
w hich contains the Reports upon the Pacific Railway, and confines himself
to the summary o f the Hon. Secretary o f W ar, must rise with the im ­
pression that for the last tw o or three years a large body o f officers had
carefully examined and surveyed each o f the three great routes with equal
c a r e ; that a mass o f evidence as to all o f them had been collected ; that
the irresistible deduction from the proof was that the southern route from
Fulton, on the Red River, was the cheapest, easiest, and best, and would
best subserve the com m erce o f the country.
But should he recollect the
counsel o f the bard—
“ Drink deep, or taste not the Pierian spring;
Here shallow drafts intoxicate the brain,
But drinking largely sobers us again
Should he g o a step further, and dip into the documents from w hich this
summary is drawn, the Reports o f the Explorers, and they will richly re­
ward him for his toil, it seems to us he will inevitably find that the facts
do not warrant the deductions o f the Secretary, and will discover a little
Southern proclivity in his report.
Perhaps he m ight infer that a true son o f the South, anxious for her
supremacy, w ho has taken the extreme Southern view on the Kansas
question, w ho has opposed that great link in Northern improvements, the
R ock Island Bridge, m ight feel solicitous to secure to the South the great
and perhaps sole route to the Pacific.
But before the nation confides to her this great highway, while she
closes the Missouri to the North, it owes at least one duty to itself, viz.:
to compare closely the deductions o f our Secretary with his premises.
W ith ou t stopping to determine how far his feelings as a man may have
influenced his action as an officer, let us consider the proofs on which his
report is founded, and we are struck with the fact that the folio, while it
overflows with reports on the Northern routes, does not contain a single
original report upon the Southern route.
W e have, indeed, an elaborate summary from Captain A . A . Humphrey,
o f the W a r Department, o f certain reports which find no place in the
folio, although we are told they have been circulated am ong members of
Congress. These reports are from Messrs. Pope, Parke, Emory, and W il­
liamson, one o f w hom seems to have made some observations while en­




The Pacific Railway.

671

gaged on the boundary survey, but as they are not published in the folio,
and cannot be obtained from the Department, they must be treated in this
discussion as o f doubtful value, and entitled to little weight in the decision
o f the question. A s respects the summary, we would accord to it that
respect which is due to an argument or critique emanating from an able
officer o f the army, but it lacks evidence to sustain it, and there are cer­
tain peculiarities in this summary which deserve attention. F or instance,
the W a r Department has, in this summary, estimated the Southern line,
from the difficult valley o f the R io P ecos across the desert and mountain­
ous region o f N ew M exico, by the mountain gorges o f San G orgonio,
Chiricahui, Valle de Sauz, Ilu eco, and Guadaloupe, across the Gila and
Colorado to N ew Mexico, will cost from 845,000 to 850,000 per mile, and
for 780 miles actually reduces the estimate o f the engineer some ten thou­
sand dollars per mile, or more than seven millions o f dollars; but when
it comes to deal with the liberal estimates o f Governor Stevens, who has
added from 25 to 50 per cent to Eastern prices, and allowed eleven m il­
lions for steamboats, planting trees, and other extras not presented in
Southern estimates, the Department, before comparing cost o f the three
great lines, adds some thirty or forty millions o f dollars to the cost o f the
Northern line, and raises the estimate on the N orth line, from Milk River,
across prairies, through the easy passes between the Missouri and Colum­
bia, where the United States officers trotted the horses attached to their
wagons in mid winter, and found grass six inches high, and dow n the
V alley o f the Columbia, until that estimate is carried 100 per cent above
the cost o f Eastern lines, and the cost o f a railway via the valleys o f the
Missouri and Columbia is made over 8100,000 per mile against an average
o f 848,000 across N ew Mexico.
A n d why should lines nearly parallel, the one resting on careful explor­
ation, the other on reports either not deemed worthy o f publication, or at
all events withheld from general circulation, be subjected to such singular
changes in valuation ?
The Northern line has the best profile, is the most accessible by navi­
gation, passes through the lumber regions o f Minnesota and Oregon, and
has access to the vast pine forests o f the Red River, can command labor
at lower rates than the South line, and if the South line has any advan­
tage, it can be but in one item, v iz .: the amount o f graduation and ma­
sonry, for in all other respects the Northern line is superior; but can the
amount o f graduation and masonry give an advantage o f $53,000 per
mile for more than one thousand miles ? The average cost o f the seven
great lines out o f Boston, over the rough surface o f Massachusetts, is but
$9,000 per mile for the graduation and masonry. The graduation and
masonry o f the W estern, carried through a tunnel and through rock-cuts
seventy feet deep, alternating with viaducts seventy feet high, averaged
but $22,000 per mile, and it seems to us to be an absolute impossibility
that the Northern line, with the best profile, leading through easy valleys,
with but one tunnel o f two-and-a-quarter miles in length, which may bo
avoided, should cost for the single item o f graduation and masonry (which
is usually in Massachusetts but one-fifth the cost o f a railway) the sum o f
$52,000 a mile m ore than the other line, through a worse country and
nearly parallel, incurs for the same item. Let us assume that the gradu­
ation and masonry on the Northern line should cost $22,000 per mile,
which is the cost o f the Great W estern, and more than twice the average




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The Pacific Railway.

o f the lines out o f Boston, and then, upon the theory o f the W a r Depart­
ment, the graduation o f the South line sinks to $30,000 per mile less than
nothing.
The significant fact, conceded b y the W a r Department, that the South­
ern line passes a series o f high summits, having an aggregate rise and fall
o f 43,000 feet, with natural slopes varying from 108 to 194 and 240 feet
per mile, while the Northern route has but 18,000 feet rise and fall, and
far easier gradients, the further fact shown by the evidence that the N orth­
ern line has better access to water, wood, lumber, and navigation, and
these remarkable changes o f the estimates are almost conclusive proof
that the Southern line has no advantage on the score o f cheapness.
Second, the line which the Secretary pronounces best, but which com ­
mences on the prairie with a gradient o f ninety feet, must ever be the most
costly to work and maintain, from its excessive rise and fall and excessive
gradients. It is a little amusing to notice the apologies for these gradients in
the suggestion by the Secretary, that thirty-ton engines have climbed them,
and in the still more pregnant suggestion o f Captain Humphrey, that in
computing the CGst o f equipage he has computed for a light traffic. It is
obvious that this line, far away from the direct current o f trade, away
from the channels o f navigation, will have little m ore than a local busi­
ness to conduct, and no capacity to do more could it be commanded.
A g a in ; we find in the Secretary’s report, page 32, a table by which he
seeks to demonstrate that this remote route is most accessible to com ­
merce. H ow is this accomplished ? N ot by drawing the lines from B os­
ton, New York, Baltimore, and Philadelphia, the great entrepots o f the
country, but by vouching in the Southern cities o f Charleston and New
Orleans.
Such an argument is m ore specious than convincing.
In detailing the
advantages o f the Southern line, the Secretary omits to mention that San
Pedro, one o f its termini, is but an open roadstead, having no shelter from
prevailing storms, and Captain Humphrey concedes that lumber and coal,
under certain contingencies, may be taken from Puget’s Sound to San
Pedro, and transported east twelve hundred miles for the use o f the South­
ern railway. H ow much will its cheapness o f construction and cheapness
o f running be increased by the possible necessity o f g oing to the terminus
o f the Northern line, a thousand miles distant, for ties and fuel?
Then, is there not, through the whole report o f the Secretary, a tend­
ency to disparage the resources o f the Northern line, and to give a color­
ing to those o f the Southern.
The atlas o f the schools has marked the American desert on the South­
ern line. Captain Humphrey, too, concedes that long stretches o f it are
destitute o f water, where the corps o f engineers are now testing the pos­
sibility o f sinking artesian wells,* and that for three hundred and fifty
miles on the Pecos, R io Grande, Gila, and Colorado, the country is not
grassed— we may say, has no wood or herbage— but the Secretary, while
he concedes there are but 2,300 square miles o f arable land in New Mex­
ico and on the Colorado, undertakes to say, page 7, that the arable soil in
* While writing this article, I take the following extract from the Boston Traveller o f October

6th, 185S:—
A r t e s i a n W e l l o n t h e P l a i n s . —W e learn from a Texan paper that a party under Captain
Pope has sunk an artesian well six hundred feet deep on the Llano Estocado, or Stalked Plain, with­
out finding any water. But the work was still continued. This looks bad for the Southern Pacific
Railroad.




The Pacific Railway.

673

the valleys o f the R ock y Mountains, does not exceed 1,000 square miles.
H ow distinctly is this statement controverted by the able reports o f G ov­
ernor Stevens and Lieutenant Mullan, who wintered in Oregon, and made
repeated journeys through the defiles o f the mountains. To illustrate this
point, we extract the follow ing passage from the rep ort:—
Extract from Governor Stevens’ Report, Folio, Part 2d, page 103.
A belt on the eastern slope of the Rocky Mountains, including the valleys of
the streams, possesses much the same characteristics of soil as already noticed on
the western slopes, but has less advantages for lumbering, and has a colder cli­
mate.
This fertile strip gradually passes into the Grand Prairie country, and on
leaving the vicinity of the mountains, the soil gradually becomes more thin, ex­
cept in the numerous broad river valleys, as those of the High W ood, the Judith,
the Muscle Shell, &c., &c. The pines end with the mountains, and the only trees
are found in the growth of the cotton-wood, lining the streams. Immediately
under the mountains is a region capable of profitable tillage, and with unlimited
pasturage, delightful in summer, and though colder than the western valleys, is
still milder than the climate of the plains still farther to the east.
I estimate that in the valleys on the western slopes of the Rocky Mountains,
and extending no farther west than the Bitter Root range of mountains, there
may be some 6,000 square miles of arable land, open grassed lands with good
soils, and already prepared for occupation and settlement; and that in addition
to this amount, there are valleys having good soils and favorable for settlement,
which will be cleared in the removal of lumber from them. The faint attempts
made by the Indians at cultivating the soil have been attended with good success,
and fair returns might be expected of all such crops as are adapted to the North­
ern States of our country. The pasturage grounds are unsurpassed. The exten­
sive bands of horses owned by the Flathead Indians, occupying St. Mary’s vil­
lage, on Bitter Root River, thrive well winter and summer. One hundred horses
belonging to the exploration, are wintered in this valley, and up to the 9th of
March the grass was fine, but little snow had fallen, and the weather was mild.
The oxen and cows owned here by the half-breeds and Indians obtain good feed
and are in good condition.
Probably 4,000 square miles of tillable land is to be found immediately on the
eastern slopes, and the bottoms of the different streams, retaining their fertility
for some distance after leaving the mountains, will considerably increase this
amount.
There is a marked difference of climate between the two sides, and the compar­
ison of the meteorological results of the winter posts established— one at Port
Benton, on the Missouri, and the other near St. Mary’s village, on opposite sides
of the mountains— will be of great interest as determining with some definiteness
the extent of this difference. The question of climate will be considered more
fully hereafter.
To bring out more clearly the character of the mountain region, I will, at the
risk of some repetition, quote from Lieutenant Mullan’s report of his exploration
to Fort I la ll:— “ Thus we found ourselves at the main camp after an absence of
forty-five days, during which time we had crossed the mountains four times, com­
pletely turning the eastern portion of the Bitter Root range, by a line of seven
hundred miles, experiencing a complete change of climate, and crossing two sec­
tions of country, different in soil, formation, natural features, capability, and gen­
eral character ; crossing, therefore, in all their ramifications, the head waters of
the tv o great rivers, Missouri and Columbia.
“ W e had now a fine opportunity to compare the climate and character of the
Bitter Root valley with that of the Hell Gate and others in its vicinity. In the
latter, snow from four to six inches deep was to be found, while in the former the
ground was perfectly free from snow. It seemed as if we had entered an entirely
different region and different climate; the Bitter Root valley thus proving that it

VOL. xxxv.— no. vi.




43

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The Pacific Railway.

well merits the name of the valley of perennial spring. The fact of the exceed­
ingly mild winters in this valley has been noticed and remarked by every one who
has ever been in it during the winter season ; thus affording an excellent rendez­
vous and recruiting station for the Indians in its vicinity, and of those sojourning
in it, as well as all others that might be overtaken by the cold or snow of the
mountains. It is the home of the Flathead Indians, where, through the instru­
mentality and exertions of the Jesuit priests, they have built up a village— not o f
lodges, but of houses— where they repair every winter, and with this valley, cov­
ered with an abundance of rich and nutritious grass, affording to their large
bands of horses grazing and to spare, they live as contentedly and as happily as
probably any tribe of Indians either east or west of the Rocky Mountains. Its
capabilities in other respects, aside from grazing, have already been referred to in
the former part of this report, and are of sufficient interest and importance to at­
tract the attention of, and hold out inducements to, settlers and others. A ll that
it at present needs is to have some direct connection with the east or the west,
and the advantages that it and the sections in its vicinity possess, will be of suffi­
cient importance to necessarily command attention. The numerous mountain
rivulets, tributaries to the Bitter Root River, that run through the valley, afford
excellent and abundant mill-sites, and the land bordering these streams is fertile
and productive, and has been proved, beyond a cavil or doubt, to be well suited
to every branch of agriculture.
“ I have seen oats, grown in this valley by Mr. John Owen, that are as heavy
and as excellent as any that I have ever seen in the States ; and the same gentle­
man has informed me that he has grown most excellent wheat, and that, from his
experience while in the mountains, he hesitates not in saying that here might
agriculture be carried on in its numerous branches, and to the exceeding great in­
terest and gain of those engaged in it.
“ The valley and mountain slopes are well timbered with an excellent growth
of pine, which is equal in every respect to the well-known and noted pine of Ore­
gon. The advantages, therefore, possessed by this section are of great importance, and offer peculiar inducements to the settler. Its valley is not only capable
of grazing immense bands of stock of every kind, but is also capable of support­
ing a dense population. The mountain slopes on either side of the valley, and
the land along the base of the mountains, afford at all seasons, even during the
most severe winters, grazing ground in abundance, while the mountains are cov­
ered with a beautiful growth of pine.
“ The provisions of nature here are, therefore, on no small scale, and of no
small importance; and let those who have imagined— and some have been so bold
as to say it— that there exists only one immense bed of mountains from the head
waters of the Missouri to the Cascade range, turn their attention to this section,
and let them contemplate its advantages and resources, and ask themselves, since
tliese things exist, can it be long before public attention shall be attracted and
fastened upon this hitherto unknown and neglected region ?
“ Can it be that we should have, so near our Pacific coast, a section of country
of hundreds of thousands of acres that will remain forever untilled, uncultivated,
totally negleeted ? It cannot be. But let a connection, and that the most direct,
be made between the main chain of the Rocky Mountains and the Pacific— and
it can be done— and soon will these advantages necessarily thrust themselves upon
public attention and open to the industrious and persevering avenues to wealth
and power. Again ; this section connects with another o f equal, if not superior,
importance—that of the Coeur de Alene country, which again connects directly,
by a beautiful section, with the country at and near Wallah-Wallah, thus show­
ing that from the main chain of the Rocky Mountains to the mouth of the Col­
umbia, we possess a rich, fertile, and productive area, that needs but the proper
means and measures to be put forth, and manfully employed, to be turned to pri­
vate and public benefit.”
*
*
*
*
* _
*
“ Looking back upon our route, we saw we had followed Bitter Root River to
its head, which we found, from its mouth, to be ninety-five miles long, flowing
through a wide and beautiful valley, whose soil is fertile and productive, well




The Pacific Railway.

675

timbered with the pine and cotton-wood, but whose chief characteristic and capa­
bility is that of grazing large herds of cattle, and affording excellent mill-sites
along the numerous streams flowing from the mountains. The country thence is
watered by tributaries to the Missouri and its forks, to the range of mountains
separating these waters from those of the Snake River, or the south branch of
Lewis’ Fork of the Columbia, and is also fertile, but its characteristic feature is
the great scarcity of timber for any purpose, the willow and wild sage being used
for fuel along the whole route. The geological formation of this section belongs
to the tertiary period. The capability of this broad area, however, for grazing
is excellent. It is a great resort at present for all Indians in the mountains, the
mountains and valleys affording a great abundance of game, consisting of elk,
bear, deer, and antelope, while the numerous rivers and streams abound in fish
and beaver.
“ The latter are still caught in large numbers on the head waters and tributaries
of the Missouri, but are not so anxiously sought after as years back, owing to
the great depreciation of value in the market east. The whole country is formed
o f a series of beds of mountainous ranges or ridges with their intervening valleys,
all of which are well defined and marked, the decomposition and washings of the
rocks of the mountains giving character to the soil of the valleys, which may be
termed, as a general thing, fertile.”
A s respects the soil on the Red River o f the North and its main branch,
the Assiniboine, and on the Saskatchawan, let us cite from the speech o f
Mr. Allan Macdonell, reported in the R ailw ay Times o f Oct. 3d, 1856 :—
A t a meeting of the Provisional Directors of the Toronto and Georgian Bay
Canal Company, in the Board of Trade rooms, Exchange, on Friday night, Mr.
Allan Macdonell said :—
“ He wished only to indulge in but few remarks, and to call attention, not to
the United States, but to our own country, which, ere long, would also be pour­
ing its flood of trade and traffic through your proposed canal. Westward, we
possess vast and fertile countries, adapted to all the pursuits of agricultural life
— countries susceptible of the highest cultivation and improvement. Between
Lake Superior and the Lake of the Woods, we possess a country of this descrip­
tion, in soil and character inferior to no part of Minnesota ; and bordering upon
this territory lies the valley of the Assiniboine, or the Red River country, as it
is sometimes called. A s a wheat-growing country, it will rival Canada. It does
so now in soil and climate. Perhaps, to give you some idea of the extent of that
country, or, perhaps I should say, portion of Western Canada, I will call your
attention to this fact. A ll Canada, as now usually designated, not in connection
with what is termed Hudson’s Bay Territories, contains about 350,000 square
miles, and this includes Lahear. The valley of the Assiniboine contains about
50.000 square miles, but containing, perhaps, a larger extent of arable and agri­
cultural land, and intersected in every direction by navigable rivers. Beyond
this, again, lies the magnificent valley of the Saskatchawan. It contains about
400.000 square miles, larger again than Canada, and it abounds in all the mate­
rial of agriculture and mineral wealth. Immense coal-fields exist in the valley of
400 miles in width, and the river Saskatchawan is navigable for 1,400 miles; it
empties into Lake Winnepeg, at Hudson’s Bay. Over the richest prairie lands,
loaded carts now pass in any direction for hundreds of miles, and to the foot of
the Rocky Mountains. In its present wild and uncultivated state it affords sus­
tenance to immense herds of wild cattle. What would it do if cultivated by the
hand of man ? The future products of these immense countries must seek the
seaboard, and all the canals and railroads which can be constructed will scarce
suffice to afford facilities for the products of the West. He wished to call atten­
tion also to another source whence a trade would arise, and contribute to swell
the traffic along the canal. Hudson’s Bay would give to Canada a sea-coast of
3.000 miles. N o maritime power has ever possessed so great a nursery for a
mercantile navy as this. It abounds with whales and every kind of fish, and




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The Pacific Railway.

strange as it may appear, that great sea lies, as it were, in the center of Canada;
From the proposed terminus of the canal, it is about 650 miles, 350 miles of
which is a navigation capable of bearing ships of any burden ; from Lake Supe­
rior to Hudson’s Bay is about 300 miles. Merchandise is now transported in
large boats of the same description as those formerly used along the St. Lawrence,
and all the vast countries that I have alluded to, and particularly the Western
States, would take advantage of it. I f the route between Lake Superior and
Hudson’s Bay was opened, and improved, they would speedily establish fisheries
along the coasts of that bay. The oil and the fish now consumed in these States
is immense, and they will be furnished then from Hudson’s Bay cheaper and more
speedily than from the source they now receive them. A trade like this will
sooner or later spring up, and create along Hudson’s Bay an immense demand for
all those manufactures and productions which the United States can supply, and
these must find their way through their canal. A large trade at this moment is
had along that bay. The Hudson’s Bay Company, who have seven forts there
and one above York Factory, receive annual supplies to the amount of from
£70,000 to £90,000.”
W e subjoin a further striking illustration o f the character o f the coun­
try on the head waters o f the Missouri, in an extract from the adventures
o f Captain Bonneville, U . S. A ., (page 190.)
The Account o f the Crow Country, by Arapooish.
About the forks of the Missouri is a fine country; good water; good grass ;
plenty of buffalo. In summer it is almost as good as the Crow country ; but in
winter it is cold ; the grass is gone; and there is no salt weed for the horses.
The Crow country is exactly in the right place. It has snowy mountains and
sunny plains ; all kinds of climates and good things for every season. When the
summer heats scorch the prairies, you can draw up under the mountains, where
the air is sweet and cool, the grass fresh, and the bright streams come tumbling
out of the snow banks.
There _you can hunt the elk, the deer, and the antelope, when their skins are fit
for dressing ; there you will find plenty of white bears and mountain sheep.
In the autumn, when your horses are fat and strong from the mountain pastures,
you can go down into the plains and hunt the buffalo, or trap beaver on the
streams. And wdien winter comes on, you can take shelter in the woody bottoms
along the rivers; there you will find buffalo meat for yourselves, and cotton-wood
bark for your horses; or you may winter in the Wind River valley, where there
is salt weed in abundance.
The Crow country is exactly in the right place. Everything good is to be
found there. There is no country like the Crow country.

The testimony o f Mr. Macdonell and o f the venerable Crow chief
strongly confirms the reports o f Messrs. Stevens, Mull an, and their asso­
ciates, while it refutes the statement o f the Secretary o f War.
A t page 9th o f the Secretary’s report, we are further told that the coun­
try on the N orth line, for 740 miles, v iz .; from the Jacques River to the
Sun River, is not fit for cultivation ; but Governor Stevens, w ho explored
it, in his official report, folio, page 82, 2d part, says, o f this same country,
that up to the great bend o f the Missouri, far above the Jacques River,
the land is adapted to continuous settlem ent; thence to Fort Union, at
least one-fourth o f the land is susceptible o f cultivation; and above it to
the California frontier much arable land m ight be found, while the im­
mense quantity o f game down to the bend o f the Missouri, attests its good­
ness as a grazing country. A n d again ; at page 1, he assures us the
grasses on the Black Feet country are exceedingly g ood , and the country
well watered.




The Pacific Railway.

677

The Secretary o f W a r then informs us that an objection exists to the
Northern line in the fact that it passes within one or two degrees o f Brit­
ish territory, but he can see no objection to the Southern line in the fact
that it skirts the frontier o f M exico, even though it may require six m il­
lions for the purchase o f the Mesilla Valley. Perhaps he may regard
proximity to M exico as decisive in its favor, for it may open the way to
those adventurers from the South who would carve m ore slave States from
Mexican territory.
A g a in ; the Secretary expresses great solicitude as to the extra expense
which may arise from making two tunnels on the Northern route, which
require but two hundred men, with powder, drills, and provisions, for the
construction o f each, both o f which may probably be avoided, and one
o f which is within a hundred miles o f a seaport; but when he deals with
similar tunnels, which may be required am ong arid mountains far from
the coast, to reduce almost impassable grades o f 108 to 240 feet per mile,
on the South line, down to those which are barely practicable, £e shows
no such solicitude for the extra expenditure, but suggests the high grades
may be substituted, if not permanently, at least for a temporary purpose.*
The officers o f the army o f the United States, and m ore particularly
the corps o f engineers educated at W est Point, are entitled to the highest
respect— they are most o f them gentlemen o f superior ability, highly ac­
complished, and distinguished, alike for their services both in the closet
and the field ; but while we concede them talents, and accomplishments,
and familiarity with the higher walks o f science, the duty o f building
railways for the United States has not as yet devolved upon them, nor
have they had practice in m aking original estimates o f the cost o f rail­
ways, or in resolving them into their component or original elements, and
we may be permitted to question some o f their computations. Let us
consider for a moment upon what grounds can they safely add one hun­
dred, fifty, or even twenty-five per cent to the cost o f a railway in the old
States as the standard for its cost in the new. Thus far the cost o f rail­
ways has been diminishing as they progress westward. W h ile the rail­
ways o f Massachusetts have cost fifty thousand dollars per mile, the rail­
ways o f Ohio, Indiana, and Michigan averages about thirty-five thousand
dollars per mile, and the great Illinois Central, ju st finished, and lying
still further west, has cost less than thirty thousand dollars per mile. A l­
though iron costs m ore as we leave the seaboard, the features o f the coun­
try soften, and the cost o f graduation diminishes. There is, too, one
marked distinction between the railways o f the old States and those o f
the new, for which sufficient allowance has not been made in the official
estimates, for such an allowance would have reduced some o f these esti­
mates at least 18 per cent. The distinction to which we refer is the cost
o f land and land damages. In a State long settled, like Massachusetts,
the cost o f land becom es oppressive to railways, and on the seven lines
leading out o f Boston, whose aggregate length is 534 miles, the cost o f
land, land damages, and fencing averages nine thousand dollars per mile.
It indeed equals, if not exceeds, the whole cost o f graduation and masonry,
* The Secretary of War, in a report o f November, A. D. 1855, suggests that further explorations
have shown that some of these summits and gradients may be reduced- It is doubtless true that
all the routes may be improved by further study and examination, for such is uniformly the case
♦»n other railroads.




678

The Pacific Railway.

and forms 18 per cent o f the whole cost o f constructing and equipping
such railways.
In a correct estimate o f cost for a Pacific Railway this item, included
in the cost o f Eastern lines, should disappear, for the right o f way and
land for stations are granted from the public domain. W h y , then, should
the Department, not content with adding this item, double it also, and
thus swell the cost o f one or more o f the Pacific Railways some thirty
millions o f dollars ?
Let us resolve an Eastern railway into its elements, and consider how
far the cost o f each element will be enhanced when it is applied to the
Pacific route. If we take the seven great lines out o f Boston, the Boston
and Lowell, the Boston and Maine, the Boston and Providence, the Boston
and W orcester, the Fitchburg, the Eastern, the Old Colony and Fall River,
we resolve the aggregate into the follow ing elements, as approximately
stated:—
I r o n ......................................................................................
Land, land damages, A c.....................................................
Graduation and masonry....................................................
Miscellaneous labor, about.................................................
Materials for track, stations, Ac., principally of w o o d ..
E quipage..............................................................................
Engineering and agencies.................

20 per cent.
18
“
18
“
15
“
14
“
10
“
5
“
100

W h ile the w hole cost o f the Boston lines averages £.50,000 per mile,
as nearly two-fifths o f their length has been furnished with a second track,
the cost o f iron amounts to £10,000 per mile, or one-fifth o f the aggre­
gate.
U pon the Pacific Railway this proportion o f iron will doubtless suffice.
I f at intervals o f 75 miles 50 miles o f second track; be inserted, the line,
aided by the telegraph, may be safely conducted, but in estimating iron
we must make allowance for the additional cost o f its transportation.
N ow iron can be delivered by contract on P u get’s Sound, or the head
o f Lake Superior, for less than 20 per cent advance on Boston prices, and
as the average haul from each end o f the line will not exceed 500 miles,
aided by navigation on the Columbia and Missouri rivers, a further addi­
tion o f 20 per cent, or 40 per cent in the whole, will cover cost o f transit.
Forty per cent on one-fifth the entire cost will add but eight per cent to
the estimate for the Pacific Railway.
But the next item o f 18 per cent for land and land damages must be
stricken from the account, and thus we place in the opposite scale a re­
duction o f 18 per cent upon the aggregate cost deduced from Eastern
standard.
Then comes the graduation and masonry, which must be at least a third
less on the Pacific route than on the rugged surface o f Massachusetts, if
w e m ay ju dge from the profiles o f the Northern lines, on which seveneighths o f the route appears to be nearly level or slightly undulating.
Let us concede that the labor will cost 25 per cent more east o f the Sierra
Nevada, and 100 per cent m ore west o f that range, than in the Eastern
States; still the estimated reduction o f amount o f earth-work and rockwork will counterbalance the excess o f wages, and leave graduation and
masonry at the Eastern standard o f 18 per cent.




\

The Pacific Railway.

679

The cars and engines may be built in Iow a and Minnesota at prices not
materially varying from the Eastern. The timber on the Northern lines
will cost nothing except the expense o f cutting and m oving from the pub­
lic lands o f Minnesota, Kansas, California, and Oregon. The cost o f en­
gineering and agencies need not be exceeded, on lon g and easy lines, and
if we add 25 per cent east and 100 per cent west o f the Sierra Nevada,
or an average o f 50 per cent to the cost o f miscellaneous labor, we shall
find the saving in land and land damages m ore than compensates for the
excess on iron and miscellaneous labor, and leaves the estimates o f $50,000
per mile a safe standard for either o f the Northern routes to California.
If we compare the cost o f the elementary parts o f a railway upon the
Northern with those which would enter in the com position o f a railway
on the Southern route, we find the advantages decidedly with the former.
1st. The iron would cost less on the former, in consequence o f the fa­
cilities o f navigation on Lake Superior, the Missouri and Columbia, the
exposed condition o f the port o f San Pedro, and the difficulties in the
w ay o f access to the town o f Fulton.
2d. Labor is m ore costly in the Southern than in the Northern States,
as illustrated in the cost o f ship-building in our navy-yards, to say nothing
o f the superior profile o f the Northern routes, and the greater fertility o f
the soil and resources o f the country, from w hich the laborers would draw
their supplies. This would reduce the cost o f graduation, masonry, and
miscellaneous labor.
3d. Timber is cheaper on the Northern route, inasmuch as the Southern
relies upon it m ore or less for supplies.
4th. The equipage, agencies, and engineering would be as cheap or
cheaper upon the Northern routes. In what element, then, has the South­
ern route the advantage, and which o f them will sustain the labored theory
o f the Secretary o f W a r?
But we pass from the inconsistencies which characterize the report o f
the Secretary o f W a r on a national question, addressed to the whole na­
tion, for they have ceased to be important. The South can no longer ex­
pect the sole avenue to the Pacific shall be carried, at the national expense,
through Southern territory, inferior in soil, resources, and com m erce to
those which attract the great current o f emigration in m ore northern lati­
tudes.
I f a national line is to be made, it must be either upon the great cen­
tral route towards which so many lines are tending, like strands o f rope
com bining into one strong cable, or upon that m ore northern route, which
finds in lower levels a milder climate, which connects with the great chain
o f lakes at the head o f Lake Superior, avails itself o f the great canal at
the Saut St. Mary, and by branch lines to Chicago strikes the great thor­
oughfares o f Northern and foreign emigration, which opens to com m erce
the navigable streams o f the Upper Missouri, the Columbia, the Mouse
River, and the Red River, even to the shores o f Hudson’s Bay, which
crosses fertile prairies in a temperate climate, boundless and almost peren­
nial pastures, and rich bottom meadows and hunting grounds, which opens
vast supplies o f coal, wood, and timber, which gives the best profile, and
as we m ay well presume from the surveys, one o f the cheapest routes to
the Pacific.
The committee, like statesmen, have presented a comprehensive plan,
which does justice to the entire country, which places each line before the




680

The Post-office as it has been, is, and should b e:

nation, with judicious grants of land, upon the merits o f its own route,
upon its individual resources in the fertility of its soil, the exuberance o f
its pasturage, its adaptation to the current of trade and emigration, and
its river connections. These are sufficient to insure the construction and
maintenance of the Central and Northern lines.
And if the South can find in the arid plains and rugged hills o f their
line, and in the mines or pastures of New Mexico, or in the Western com­
merce or emigration o f New Orleans and Charleston, sufficient induce­
ments to build the Southern line, let it be built, for we war with no rail­
way, but let it not divert the public treasure from its legitimate channels.
Let Congress, at its present session, consummate the great work it has
undertaken ; let it mature the charters and grants which have been re­
ported ; capitalize the mail-money; and the great work o f the present
century, which is to bind together this vast empire in bands o f iron, and
to bear the light o f the Gospel, o f science and civilization, across the con­
tinent, and make it the great highway between Europe and Asia, will be
accomplished.

Art. II.— TIIE POST-OFFICE AS IT HAS BEEN, IS, AND SHOULD BE :
AS

A

M EA N S O T M O D ER N

C I V IL I Z A T IO N .*

A s Congress is about to be asked to reform our postal system, with a
view of incorporating into it some improvements which the experience o f
other countries have successfully tested, it has been thought advisable to
set forth some of the considerations which have operated to call public
attention to the subject, as well as to state some reasons why all are in­
vited to participate in the movement.
As the Post-office affords an ebbing and flowing system, by which all
the secret thoughts, feelings, and affections o f a people are, or should be,
safely, quickly, and confidentially imparted to each other, it certainly be­
comes us, as American citizens, to see that our system is in no respect be­
hind that o f the most favored nations. A very little examination will
satisfy the intelligent observer that our postal system is very far behind,
in its means for public accommodation, those of many European coun­
tries.
The Post-office o f England, in the completeness o f its w orking ma­
chinery, takes its position at the head o f the list.
Such are the facilities
which it affords for correspondence, and so com pletely are the habits o f
the people assimilated to them, that over 443.000,000 letters were circu­
lated in 1854, while in the United States the number was les3 than
120,000,000, or about one-quarter the number.

It must be borne in mind, at the same time, that the population of the
two countries is about the same, while there is a much larger number in
England than in this country who cannot read or write.
Can such a disparity be reconciled upon any other principle than thatof a superiority of system ? W e hold that it cannot.
* The substance of this article was delivered as a lecture in Boston, and is now first published in
tho M e r c h a n t Magazine*




A s a Means o f Modern Civilization.

681

In our judgm ent, those w ho speak the English language on this con­
tinent are developing the same necessity for an extension o f intercourse,
as their brethren on the other side o f the Atlantic. Scholars speak ot
the English language as in itself a power.
N o people have spoken it, or
can speak it, but a powerful people. N o other language equals it. AVith
a law and genius o f its own, it levies contributions upon all other lan­
guages, and incorporates the power and beauty, the heart and core, o f
every other tongue into it. For perspicuity and force, for elegance and
smoothness, poetry and science, metaphysics and theology, the pulpit or the
forum, the Senate or the bar, for any and every use, there is no language
which equals it. B y the use o f this com m on language, our country is
bound together by a com m on sympathy ; and by the same means— unity
o f language— we are allied to the most powerful nations o f the earth.
The English language is rapidly spreading into all lands, and will, ac­
cording to present indications, soon become the language o f com m erce in
all nations.
The English and Americans are in the East Indies, in Australia, at the
Cape o f G ood Hope, on the coast o f C h in a; in Asia, Africa, Europe,
A m erica; on all continents, seas, and islands; along all lines o f travel,
where they find or leave some who speak the language.
W ith a language o f such powers, and representing such impulses, taken
in connection with the fact that correspondence is the means o f holding
conversation with those at a distance, it follows that the machinery which
gives scope to these powers, in order to answer the requirements o f an
advanced civilization, should be as free and perfect as the power o f man
can make it.
Our correspondence has been compared to the blood o f the country,
which resembles the arterial and venous circulation o f the human system,
while the electric telegraph represents the nervous system o f the nation
and o f modern society. They spread over the land, interlinking distant
parts, and making possible a perpetually higher co-operation am ong men,
and higher social forms than have hitherto existed. B y means o f its life­
like functions, the social body becomes a living whole, and each o f its
new applications marks a step in the organization o f human life.
Viewed from this point, the Post-office is seen to be one o f the most
important institutions in civil society, serving and aiding all other institu­
tions, and scattering its blessings am ong the whole people, alike to the
rich and poor.
The postal system may he divided into three distinct eras. The first
era was when governments established systems o f posts, or royal couriers,
not for the accommodation o f the public, but only for the purposes o f the
government and the convenience o f the court.
Second. W hen com m erce began to flourish, and a necessity existed for
a more general correspondence, leiters had to be dispatched by messen­
gers. A s soon as it became a profitable business, governments took the
control, abolished all private posts, claimed the business as a government
m onopoly, and wielded it almost exclusively as a means o f raising revenue.
The third era was inaugurated under the auspices o f Rowland Hill,
which established the British Post-office upon the principle that its para­
mount object should be the convenience and accommodation o f the uni­
versal public.
A ll progress in postal affairs refer themselves to one o f these periods.




682

The Post-office as it has been, is, and should b e:

The first era extended over a period o f about 2,000 years. The second,
from 200 to 300 years. A n d the third covers a period o f only about 16
years.
Although the w orking o f the Post-office system under its new auspices
is in a state o f infancy, it has been sufficiently tested to show its vast
powers as an agent in facilitating the operations o f commerce, as well as
that o f all the great moral, social, and educational movements o f the age.
A m on g all the institutions o f society there is none which m ore strikingly
illustrates and marks the progress o f civilization than the Post-office, in
its successive states o f progress. Notwithstanding this fact, it must be
apparent to the careful observer, that its grand mission in ministering to
the wants o f humanity, have but just begun.
It may not be uninteresting to take a glance at the past, and to give a
brief sketch o f the Post-office from its earliest history. Such a survey
presents a most striking picture o f the world’s progress in intercourse.
K in g Cyrus, o f Persia, was the first to establish posts throughout his
kingdom , with regular couriers, to obtain the latest news from his armies
at the seat o f war.
This was 560 years before Christ. Augustus introduced the same in­
stitution am ong the Romans, about tbe time o f the Christian era. H e
also introduced post-chaises.
The same plan was introduced by Charlemagne in the year 800. N one
o f the ancient governments, however highly cultivated, had anything like
the m odem Post-office Department. Neither Egypt, Greece, nor Rom e, in
their days o f highest glory, had any such thing as a mail for the accom ­
modation o f the public. A t the time o f the Christian era, the Apostles
had no other means o f communicating their epistles to the churches than
by messengers, and they are accordingly mentioned by nearly all o f them.
Louis X I., o f France, introduced posts in 1470, and this was the first
o f their appearance in Europe.
Edward IV., o f England, in 1481, introduced them into that country
with riders on post-horses, which went stages o f twenty miles each, to
procure the latest intelligence o f the events that had passed in the war
which he was carrying on with the Scots.
The first chief-postmaster in England was appointed by Queen Elizabeth
in 1581— 275 years ago.
Posts existed in the reign o f Charles I., but were overturned in the civil
wars which followed, but were re-established under the energetic govern­
ment o f Cromwell.
Mail-coaches were introduced into England by a Mr. Palmer, in 1784.
Mr. P. introduced his plan to Mr. Pitt, then Prime Minister, which was
adopted after much opposition from the functionaries o f the Post-office
Department. Mr. Palm er found the post, instead o f the quickest, nearly
the slowest conveyance in the country, the average speed being but threeand-a-half miles per hour.
Richard III. improved the system o f couriers in 1483.
A bout the same time similar establishments were started in various
portions o f the German Empire.
A s late as 102 years ago there was no regular stage-coach between the
great metropolis o f England and o f Scotland.
In 1754, one H osea Eastgate advertised to run between London and
Edinburgh, “ a new genteel two-end glass coach machine, hung on steel




A s a Means o f M odem Civilization.

683

springs, exceeding light, and easy, to go in ten days in summer and twelve
in winter,” to leave London every other Tuesday. “ Performed if G od
permits,” so reads the advertisement, “ by your dutiful servant, H osea
Eastgate.”
The transition in travel from on horse-back to coaches was the cause o f
a large amount o f lamentation, or, what is called in popular language, old
fogy ism. It has been supposed by some ardent disciples o f Y oun g Amer­
ica, that this age was in advance o f all others, even in this class o f exhi­
bitions. A brief extract may aid those, curious in such matters, in form­
ing a correct judgm ent on this p o in t:—
In a pamphlet called “ The Grand Concern of England Explained,” published
in 1673, the writer gravely depicted the miseries and the ruin of trade, occasioned
by the introduction of coaches. The style of reasoning is worthy of notice, for
the method of argument; and the political and social principles enunciated in it
still find acceptance among a few in our own day. “ Before the coaches were set
up,” he says, “ travelers rode on horseback, and men had boots, spurs, saddles,
bridles, saddle-cloths, and good riding suits, coats and cloaks, stockings and hats,
whereby the wool and leather of the kingdom were consumed. Besides, most
gentlemen, when they traveled on horseback, used to ride with swords, belts, pis­
tols, holsters, portmanteaus, and hat-cases, which in these coaches they have little
or no occasion for. For when they rode on horseback they rode in one suit and
carried another, to wear when they came to their journey’s end, or lag by the w ay;
but in coaches they ride in a silk suit, with an Indian gown, with a sash, silk
stockings, and the beaver-hats men ride in, and carry no other with them. This
is because they escape the wet and dirt which on horseback they cannot avoid ;
whereas, in two or three journeys on horseback, these clothes and hats were wont
to be spoiled; which done, they were forced to have new very often, and that in­
creased the consumption o f manufacture. I f they were women that traveled, they
used to have safeguards, and hoods, side-saddles and pillions, with strappings, sad­
dle or pillion cloths, which, for the most part, were laced and embroidered; to
the making of which there went several trades, now ruined."
A nother extract will serve to show the condition o f roads in the past
cen tu ry:—
Arthur Young, an author of some note, who traveled in Lancashire about the
year 1770, has left us a forcible and graphic, if not elegant, sketch of the state o f
the roads and of the means of communication. “ I know not,” he says, “ in the
whole range of language, terms sufficiently expressive to describe this infernal
road. Let me most seriously caution all travelers who may accidentally propose
to travel this terrible country, to avoid it as they would the devil; for a thousand
to one they break their necks, or their limbs, by overthrows, or breakings down.
They will here meet with ruts, which I actually measured, four feet deep, and
floating with mud, only from a wet summer ; what, therefore, must it be after a
winter ? The only mending it receives is tumbling in some loose stones, which
serves no other purpose than jolting a carriage in the most intolerable manner.
These are not merely opinions, but facts ; for I actually passed three carts broken
down, in these eighteen miles of execrable memory.”
Subsequently, in speaking o f a turnpike-road near W arrington, he sa ys:
This a paved road, most infamously bad. Any person would imagine the peo­
ple of the country had made it with a view to immediate destruction 1 for the
breadth is only sufficient for one carriage ; consequently, it is cut at once into
ruts, and you may easily'conceive what a break-down, dislocating road, with ruts
cut through a pavement, must be.
Such was the style o f traveling in Britain less than a century ago from
the time we write.




684

The Post-office as it has been, is, and should b e:

One more sketch we will venture to give, and that is o f a country post­
master :—
The country postmaster was generally an innkeeper; and Taylor, the waterpoet, in his “ Penniless Pilgrimage,” from the metropolis to Scotland, in the early
part of the seventeenth century, describes one of these extortionate worthies :—
“ From Stamford,” he says, “ we rode to Huntingdon, where we lodged at the
postmaster’s house, at the sign of the Crown ; his name is Biggs. He was in­
formed who I was, and wherefore I undertook this, my penniless progress ; where­
fore he came up to our chamber and supped with us, and very bountifully called
for three quarts of wine and sugar, and four jugs of beer. He did drink and be­
gin healths like a horse-leech, and swallowed down his cups wdthout feeling, as if
he had the dropsy, or nine pounds o f sponge in his maw. In a word, as he is a
post, he drank post, striving and calling by all means to make the reckoning
great, or to make us men of great reckoning. But in his payment he was tired
like a jade, leaving the gentlemen that was with me to discharge the terrible shot,
or else one of my horses must have laid in pawn for his superfluous calling and
unmannerly intrusion.”
Even so late as between 1130 and 1740, the post was only transmitted
three days in a week between London and Edinburgh ; and the metropolis
on one occasion sent only a single letter, which was for a banker.
In 164 3 the English Post-office yielded a revenue o f................................
1653 it wasfarmed out to John Manly, E^q, for.................................
1663 “
“
“ Daniel O. Neal, f o r ....................................
1674 “
“
out for.......................................................................
1764..............................................................................................................
1800..............................................................................................................
1820 rising o f .............................................................................................

£5,000
10,000
21,500
43,000
432,048
745,313
2,000,000

Here it reached its culminating point, and the revenue either remained
stationary, or fell off, while population and correspondence was daily in­
creasing.
An examination into the causes o f this state o f things disclosed the
fact, that in consequence o f high rates for carrying letters, an outside
post-office had sprung into existence, which was carrying letters between
all the large places for one penny (two cents) each. This outside postoffice had as regular a system o f exchanging bags as the regular office.
The average rate o f postage in England, as well as in this country, at that
time, was about fourteen cents per letter, which was regarded as so exor­
bitant that public sympathy went with the outside, rather than with the
governm ent office.
It was the successful w orking o f this outside office that went far to con­
vince the people o f the feasibility o f Rowland H ill’s plan. The intelligent
and far-seeing statesmen o f England were satisfied that any rate o f post­
age over one penny per letter would give the letters on long routes to the
Department, while the short ones would seek the outside office. The fact
was conceded by them, that the only way to invite all correspondence to
pass through the mails, was to put the price so low as to take away all
m otive for competition with the government.
In the debates in Parliament, Sir Francis Baring, Chancellor o f the
Exchequer, said, “ that the whole authorities conclusively bear in favor o f
a penny postage,” and he “ conscientiously believed that the public ran
less risk o f loss by adopting it.”
Referring to the petitions o f the people, he said :— “ The mass o f them




A s a Means o f Modern Civilization.

685

present the most extraordinary combination I ever saw, o f representations
to one purpose, from all classes, unswayed by any political motive what­
ever, from persons o f all shades o f opinion, political and religious, and
from the commercial and trading communities in all parts o f the king­
dom .”
Mr. Goulburn, then one o f the leaders o f the opposition, opposed so
great a sacrifice o f revenue, in the existing state o f the country, but ad­
mitted that it would “ ultimately increase the wealth and prosperity o f the
country.” A nd if the experiment was to be tried at all, 11it would be best
to make it to the extent proposed,” for “ the whole evidence went to show
that a postage o f two pence would fail, but a penny might succeed.”
Mr. W allace declared it “ one o f the greatest boons that could be con­
ferred on the human race,” and he begged that, as “ England had the
honor o f the invention,” they m ight not “ lose the honor o f being the
first to execute ” a plan, which he pronounced “ essentially necessary to
the comforts o f the human race.”
Sir Robert Peel, then at the head o f the opposition, found much fault
with the financial plans o f Mr. Baring, but he “ would not say one word
in disparagement o f the plans o f Mr. H ill;” and if he wanted popularity,
“ he would at once give wav to the public feeling in favor o f the great
moral and social advantages ” o f the plan, “ the great stimulus it would
afford to industry and commercial enterprise,” and “ the boon it presented
to the lower classes.”
Mr. O’Connell thought it would be “ one o f the most valuable legislative
reliefs that had ever been given to the people.” It was “ impossible to
exaggerate its benefits.” A n d even if it would not pay the expense o f the
Post-office, he held that “ government ought to make a sacrifice f o r the p u r­
pose o f facilitating communication.”
Sir Robert Peel admitted that “ great social and commercial advantages
will arise from the change, independent o f financial considerations.”
The D uke o f W ellington admitted “ the expediency, and indeed the
necessity ” o f the proposed change. H e thought Mr. H ill’s plan “ the one
most likely to succeed.”
Lord Ashburton said “ there could be no doubt that the country at large
would derive an immense benefit, the consumption o f paper would be in­
creased considerably, and it was most probable the number o f letters
would be at least doubled.”
It appeared to him “ that a tax upon com ­
munication between distant parties was, o f all taxes, the most objection­
able." A t one time he had been o f the opinion “ that the uniform charge
o f postage should be two pence, but he fo u n d the mass o f evidence so
strongly in fa v o r o f one penny, that he concluded the ministers were right
in com ing down to that rate.”
The Earl o f Lichfield, Postmaster-General, “ assented to it on the simple
ground that the demand f o r it was universal." So obnoxious was the tax
upon letters, that he was entitled to say that “ the people had declared
their readiness to submit to any impost that might be substituted in its
stead.”
This glance at the Parliamentary debates, brief as they are, will serve
to show the overruling considerations which operated to induce the British
government to adopt their present postal system— the most perfect that
exists on the face o f the globe.
It may be interesting, also, to glance at the past history o f our own
Post-office.




686

The Post-office as it has been, is, and should b e:

The first Post-office in the colonies was established in 1710 by act o f
Parliament, which continued until the Revolutionary W ar, when it was
controlled by Congress.
Dr. F r a n k l in was commissioned as one o f two Deputy PostmastersGeneral in 1753, at w hich time the length o f post-roads was 1,532 miles.
After im proving and enlarging the service, and returning to the British
crown three times as much clear revenue as the Post-office in Ireland, he
was dismissed from office in 1774, as he says, “ by a freak o f ministers.”
In 1790, the Department was organized, and Samuel Osgood, o f Massa­
chusetts, appointed Postmaster-General.
It is interesting to recur to this day o f small things, for the purpose o f
comparing the past with the present. Mr. O sgood’s first communication
as Postmaster-General was addressed to Alexander Hamilton, then Secre­
tary o f the Treasury, and was dated January 20, 1790.
A t this time there was one grand mail-route extending from Wiscasset,
in Massachusetts, (now Maine,) to Savannah, Georgia, with ten “ cross
roads,” as they were called, such as from Hartford to New London, P hil­
adelphia to Pittsburg, New Y ork to Albany, <fcc.
In 1791, Tim othy Pickering was appointed Postmaster-General, and
afterwards Secretary o f State, under the administrations o f W ashington
and John Adams. H e was a man o f great firmness, and not easily dis­
couraged by obstacles. His first communication to Congress made known
to that body a formidable difficulty w hich he had encountered in running
the mail through the State o f N ew Jersey. It consisted o f an act passed
by the Legislature o f that State, “ for raising a revenue from certain
stages, &c.,” and as the United States governm ent had contracted to have
the mail carried through the State b y a line o f stages, they were thus
subject to taxation.
Mr. Pickering, in a communication to the government, says :—
“ I f the sums exacted from the proprietors of the stages were expended in ex­
traordinary reparations of the road, no passengers would complain of paying en­
hanced prices for safer and easier seats in the stages; but such an appropriation
is not even thought o f ; the avowed design is to increase the revenues of that
State. And thus the citizens of the United States have to purchase permission
to travel on the highways of New Jersey. A t the same time, it is remarkable
that the express object of one section of the act is * to present imposition on trav­
elers.’ Having represented this tax, what I conceive it to be, au unwarrantable
imposition, it is proper to add that, from information I have received, it originated
in the voluntary offer of the proprietors of two lines of stages then running, de­
signed thereby to make a monopoly o f the business.”
This taste for m onopoly, and for taxing citizens o f other States for pur­
poses o f revenue, it would thus seem, commenced in that State at an early
p e rio d ; and, as is well known to travelers, has not been eradicated even
down to the present time.
The fourth Postmaster-General was Gideon Granger, o f Connecticut.
Very soon after entering upon his duties, he too perceived breakers ahead,
w hich he lost no time in com m unicating to the Post-office Committee.
This difficulty he characterized as o f “ too delicate a nature to engraft
into a report which may becom e public, and yet too important to be
om itted or passed over.”
It related to employing negroes in carrying the mails, and is interesting
in several points o f view, and am ong them as illustrating some o f the
dangers w hich attend the acquisition o f knowledge.




687

A s a Means o f M od em Civilization,

“ Everything,” he says, “ which tends to increase their knowledge of natural
rights, of men and things, or that affords them an opportunity of associating, ac­
quiring, and communicating sentiments, and of establishing a chain or line of in­
telligence, must increase your hazard, because it increases their means of effecting
their object.
“ The most active and intelligent are employed as post-riders. These are the
most ready to learn, and the most able to execute. By traveling from day to day,
and hourly mixing with the people, they must, they will acquire information.
They will learn that a man’s rights do not depend upon his color. They will, in
time, become teachers to their brethren. They become acquainted with each
other on the line. Whenever the body, or a portion of them, wish to act, they
are an organized corps, circulating our intelligence openly, their own pricately.”

This led to the passage o f a law which removed all such dangers.
The extraordinary increase in the number o f Post-offices in the United
States, with the number o f miles o f post-roads, to meet the grow ing wants
o f our increasing population, as well as the increase in the revenue and
expenses, and in the number o f letters, may be seen by reference to the
follow ing table, com m encing with 1790, at which time the Department
was founded under the Constitution, and ending with 1 8 5 4 :—
S T A T IS T IC S O F T H E

Date.
1 7 9 0 ...............
1 7 9 1 ...............
1 79 2 ...............
1793 ...............
1 7 9 4 ..............
1795 ..............
1 796 ..............
1797 ..............
1798 ............ .
1 799 ............
1 80 0 .............
1 8 0 1 .............
1802 .............
1803 .............
1 804 .............
1805 .............
1806 ............ ____
1 S 0 7 ............. ____
1808 ............. ____
1809 .............
1 8 1 0 .............
1 8 1 1 .............
1 8 1 2 .............
1 8 1 3 .............
1 8 1 4 ............. ____
1 8 1 5 .............
1 8 1 6 .............
1 8 1 7 .............
1 8 1 8 .............
1 8 1 9 ............. ____
1820 ............
1 8 2 1 .............
1822 .............
1823 .............
1824 .............
1825 .............

U N ITE D

S T A T E S P O S T -O F F IC E .

PostMiles of
Expenses of
offices. post-roads. transportation. Bevenue.
$22,081
1,875
$ 3 7 ,93 5
23,293
1,905
46,2 94
5,642
32,731
67,444
5,642
44,7 34
104,747
11,984
53,005
128,947
13,207
75,359
160,620
81,489
13,207
195,067
16,180
89,382
213,998
16,180
1 07,014
232,977
16,180
109,475
264,846
128,644
20,817
280,804
22,309
152,450
320,443
25,315
174,671
327,045
25,315
205 .11 0
351,823
29,556
205,555
3 89,450
31,076
239,635
421,373
1,710
33,431
269,033
446 ,10 6
1,848
33,755
292,751
4 78,763
34,035
306,499
1,944
4 60 ,56 4
34,035
332,917
5 0 6 ,63 4
36,406
327,966
551 ,68 4
36,406
319,166
587,247
39,378
340,626
649,208
39,540
438 ,55 9
703,155
2,870
41,736
475,602
730,370
43,966
487 ,77 9
1,043,065
48,9 76
521,970
961,782
51,600
1,002,973
589 ,18 9
59,473
664,611
1,130,235
67,586
717,881
4 ,000
1,204,737
72,492
782,425
1,111,927
78,808
815,681
1,056,658
788 ,61 8
82,763
1,117,490
84,860
7 6 7 ,46 4
1,114,345
8 4 ,8 6 0
768,939
1,156,812
94,052
786,646
1,262,061




Total
expenses.
$ 3 2 ,14 0
36,697
54,531
7 2 ,0 4 0
89,973
117,893
131,572
150,114
179,084
188,038
213 ,99 4
255,151
281,916
822,364
337,502
377,-367
417 ,23 4
453,885
462,828
498,012
495,969
499 ,09 9
540,165
681,012
727,126
748,121
804,022
916,515
1 ,035,832
1,117,861
1,160,926
1,182,923
1,167,672
1,169,886
1,169,199
1,206,584

No. o f
letters.
2 65,545
324,058
4 7 2 ,10 8
7 3 3 ,22 9
9 02,629
1,124,340
1,365,469
1,497,986
1,680,839
1,853,922
1,965,628
2,243,101
2,289,316
2,462,761
2 ,726,150
2,949,651
3.122,742
3,361.341
3,223,948
3,546,438
3,861,788
4,110,729
4,544,456
4 ,922,085
5,1 1 2,59 0
7,301,455
6 ,732,474
8,023,784
9,041,880
9 ,637,896
8,895,415
8 ,453,264
8,9 3 9,92 0
8.9 1 4,76 0
9 ,254,496
10,0 16 ,4 8 8

688

The Post-office as it has been, is, and should b e:
PostMiles of Expenses of
offices. post-roads. transportation. Revenue.

Date.
1826 .......... ..........
1827 .......... ..........
1 828 .......... ..........
1829 ............ _____
1 830 ............
1 8 3 1 ............ .........
1832 ............ _____
1833 ............ _____
1 834 ............ _____
1835 ............ _____
1836 ............
1837 ............
1838 .......... ...........
1839 ............
1 840 ............
1 8 4 1 ............
1842 ............
1843 ............
1844 .............
1846 ............. ____
1 846 ............ ____
1847 ............. ____
1848 ............. ____
1849 ............ ____
1860 ............
1 8 6 1 ............. ____
1 862 ............. ____
1868 ............. . . . .
1 86 4 ............. ____

6.160
7,603
7,661
8 ,050
8,686
9,205
10,127
10,693
10,770

12,519

14,183
14,601
15,146
16,159
16,747
19,769
20,901
22,3 20
23 548

94,052
105,336
114,536
114,780
115,176
116,000
104,467
119,916
11 2,600
112 ,77 4
118,264
141,242
134,818
133,999
155,739
155,026
149,732
142,295
144,687
143,940
149,679
153,818
163,208
167,703
178,672
196,290
214 ,28 4
217,743
219,935

885,100
912,345
1,086,312
1 ,153,646
1,274,009
1,252,226
1,4 82,507
1,894,688
1,922,431
1,719,007
1,638,052
2,081,786
3,131,308
3,301,922
3,213,043
3,0 3 4,81 4
4 ,192,196
2 ,982,512
2,912,947
2,8 9 8,63 0
2 ,597,455
2 ,476,456
2 ,448,766
2 ,490,028
3,095,974
4,0 1 6,58 8
4,136,907
4 ,729,025
4 ,925,785

1,388,417
1,473,551
1,598,134
1,707,418
1,850,583
1,997,812
2,258,570
2,616,538
2,823,707
2,993,557
3,398,455
4 ,100,605
4 ,235,078
4,4 7 7,61 4
4,5 4 3,52 2
4,407,726
5,029,507
4,296,225
4,237,288
4 ,439,842
4,0 8 9,09 0
4,013,447
4 ,161,078
4 ,705,176
5,552,971
6,727,867
6 ,828,982
7,9 4 0,72 4
6,683,537

Total
expenses.

No. of
letters.
11,110.330
11,788,408
12,785,072
13,659,344
1 3,804,664
17,980,308
20,327,130
23,548,842
25,443,363
26,942,013
30,586,095
36,905,445
88,115,702
4 0,298,526
4 0,891,698
3 9,669,534
45,265,563
38,666,025
38,135,592
39,958,978
41,879,781
4 7,585,757
6 2,364,819
6 0,159,862
6 9,426,452
8 3,252,735
9 5 ,7 90 ,5 2 4
1 02 ,139,148
119,634,418

1,309,316
1,373,239
1,623.333
1,782,133
1,932,708
1,936,123
2,266,172
2,930,415
2,896,591
2,757,350
2,755,624
3,303,428
4 ,621,837
4,654,718
4 ,718,286
4 ,499,528
5,6 7 4,75 2
4 ,3 7 4,75 4
4 ,296,513
4,320,732
4 .084,332
3,971,275
4 ,3 2 6,85 0
4 ,479,049
6,212,953
6,024,566
7,108,459
7,982,757
8,577,424

R E C A P IT U L A T IO N — T O T A L S .

Expenses of transportation.. $ 8 6 ,45 3 ,4 1 5 j Total expenses ..................
Revenue ........................................ 133,38 1 ,6 5 0 | Number o f letters.............

$ 1 3 5 ,0 9 0 ,3 14
1,393,930,814

The follow ing table will show the statistics o f the British Post-office
from 1839 (the last year under the old system) to 1855 :—
S T A T IS T IC S O F T H E

B R I T IS H

P O S T -O F F IC E -----R E V E N U E , E X P E N S E S , N U M B E R O F L E T T E R S , A N D

NUMBER

AND

A M O U N T O F M O N E Y -O R D E R S .

Expenses.

Net
revenue.

1 8 3 9 . $11,958,818
6,797,332
1840.
7,497,093
1841.
7,8 9 0,72 9
1842.
8,104,338
1843.
8,525,839
1844.
9.437,883
1845.
9,819,287
1846.
10,905,084
1847.
10,718,400
1848.
10,826,749
1849.
11,323,421
1860.
12,110,841
1861.
1 2,171,634
1862.
12,872,039
1853.
13,509,313
1854 .
13,582,100
1855.

$ 3,784,997
4,293,385
4,690,845
4 ,887,522
4 ,903,252
4.925,553
5,627,971
5,693,726
5 ,982,600
7,016,253
6 ,622,814
7,303,928
6,520,818
6,719,536
7,003,399
7,532,781

$8,168,821
2,503,947
2,806,248
3,003,207
3,201,086
3,599,786
3,809,912
4,125,561
4 ,9 2 2,48 4
3,702,147
4 ,203,935
4,019,493
5,590,023
5,452,098
5,8 6 8,64 0
5 ,976,532

178,045,400

* 9 3 ,5 0 9 ,3 8 0

Date.

Gross
receipts.




No. of
letters.
82,470,596
168,768,344
196,500,191
208,434,451
220,450,306
242,091,684
271,410,789
299,586,762
322,146,243
328,830,184
337,399,199
347,069,071
360,647,187
379,501,499
410,817,489
443,649,301
456,216,176

No. o f
Amount of
mon'y-ord’rs. mon’y-ordrs.
188,921
587,797
1,552,845
2 ,111,980
2,501,523
2,806,803
3,176,126
3,515,079
4,031,185
4,203,651
4,248,891
4,439,713
4,661,025
4,947,826
5 ,215,290
5,466,244
5,807,412

$ 1,565,623
4,804,878
15,637,538
21,685,889
2 5,564,204
28,476,977
32,066,805
35,3 55 ,2 8 4
39,515,886
40,756,475
4 0,763,219
42,4 72 ,4 9 3
44,402,104
47,191,389
49,580,976
52,312,059
65,046,400

* 7 0 ,9 5 3 ,9 2 0 {>,076,989,472 59,4 62 ,3 1 0 577,198,199
* Sixteen years.

A s a Means o f Modern Civilization.

689

It is instructive to trace the rate o f increase in England, and the causes
which operated to produce it.
The increase in the number o f letters in the first eight years averaged
over 40 per cent each year, although the third and fourth years it averaged
but fourteen and eighteen per cent. The cause o f this depression is ex­
plained by the London Spectator, to have been occasioned by the official
torpor o f the Chancellor, who had hardened his heart against faith in
Post-office improvements, and curtailed its accommodations, on the ground
that it was expensive. Hence the falling o ft This led to parliamentary
agitation, which caused the extension o f accommodations to the pu blic;
anti which brought both letters and revenue. “ The moral taught,” says
the Spectator, “ by this steady increase both o f letters and revenue in the
Post-office is, that increased facilities for the public bring a corresponding
increase both o f business and profit to the Department.”
The first question that meets us from all quarters, in relation to the pro­
posed system, is, w ill it p a y ? W e submit that it will ; and our opinion is
based upon the following, am ong other reasons.
Before, however, proceeding to state these reasons, we would beg leave
to ask, with all due deference, if there is any other one department o f
government that does sustain itself? Does the State, Navy, W ar, Judi­
ciary, or Interior Departments pay their way ? If not, why should we not
mutilate and cripple them, as well as the Post-office ? Our reasons for
believing the Department can sustain itself, are—
1st. The receipts o f the English Department are nearly double the ex­
penses ; which demonstrates that a rate o f one cent per letter, instead o f
two, would sustain their Department. Hence it is inferred that if the
British Post-office can sustain itself at a rate o f one cent, the United
States Post-office can certainly do so at twice the amount. Most things
in England are conducted upon a m ore expensive scale than in this
country. A re we prepared to concede, without trial, that postal machinery
can be worked in England at less than one-half o f what it can be done in
this country ? Our position is sustained, in part, by Major H obbie, one o f
the Assistant Postmaster-Generals, in an able and satisfactory report upon
the English system, made in 1848. H e then took the ground, that, con­
sidering the vastness o f our territory, and the magnitude o f our system
of mails, and the still greater extent to w hich they must be carried, three
ceuts here will be a cheaper rate, in comparison to service performed, than
in England. If, then, the two systems can sustain themselves in the pro­
portion o f three to two, as supposed by Major H obbie, who is one o f our
most intelligent and experienced officers, there seems little room to hang
a doubt upon, after experience has proved that the proportion is two to
one.
2nd. The great reason why our Post-office is supposed to be m ore ex­
pensive than the English is, because o f greater distances. This difficulty
only needs a little examination to melt away. The idea that distance is the
main e'em ent o f expense, was thoroughly exposed by liowlaud Hill. H e
showed before a Committee o f the House o f Commons, that it cost as
much to send letters from London to Barnet, (11 miles,) as from London
to Edinburgh, (397 miles.) The cost o f transit from London to Edinburgh
he showed to be only one thirty sixth part o f a penny— or one-eighteenth
part o f one cent— and this was found to be a fair average o f the cost o f
transportation in ail the mails o f the kingdom.
V O L . X X X V .----- N O .




VI.

44

690

The Post-office as it has been, is, and should be !

The profitable routes are always on the great thoroughfares, 'which
command large quantities o f letters; and the expensive routes are those
through sparse settlements, with few letters, irrespective o f distance. T o
illustrate this point, it is only necessary to cite a few cases.
The average w eight o f passengers is about 150 pounds, and with
baggage, 230 pounds. The cost o f transit between Boston and N ew Y o rk
would be by railroad, $5. B y the sound, $4. The cost o f transit by ex­
press, including delivery, would be but $1 25. Letters average about fifty
to the pound, 230 pounds would, therefore, be equal to 11,500 letters. This,
at tw o cents each, would amount to $230. I f we estimate the cost o f a mailbag o f letters between Boston and New Y ork, o f 230 pounds, at passenger
fare, the cost o f transit is less than the two-hundredth part o f one cent 1
If we estimate the same at the cost o f express freight, it would be less,
than the eight-hundredth part o f one cent. If we extend the same bag o f
letters to N ew Orleans at the cost o f express freight, the cost is less than the
eightieth part o f one cent per letter. A nd last o f all, if we extend the same
bac o f letters to San Francisco, across the Isthmus, what is the result ?
The prioe o f express freight to that point is thirty cents per pound. Taking
the ave...0 e o f letters to be fifty to the pound, this makes the cost o f transit
six mills each. I f we add the cost o f handling letters in England, seven mills,
we make the total thirteen mills, which at two cents per letter would leave
seven mills (thirty-five per cent) surplus for profit and contingencies.
In the face o f facts like these, coupled with the additional consideration
that governm ent secures itself against competition, by making a m onopoly
o f the whole business, can the question be seriously entertained, that a
low rate o f postage will not pay ? The question is often asked, w hy at­
tempt to reduce postage, when the Post-office Department does not pay
its way ? But why does not the Department sustain itself ? The answer
is very simple.
1st. It has too many burdens to ca rry ; and 2nd, its facilities for ac­
com m odating the public are not up to the times.
A m on g its burdens are the fran k in g privilege. From 1790 down to the
present time, letter postage has had to pay not only its own way, but has
done all the government work f o r nothing, in addition.
The expenses of the Department from 1790 to 1854 (64 years) were . . $135,090,814
Amount of revenue same p eriod ................................................................... 133,381,650
Balarfce against the Department............................................................

$1,708,664

I f the governm ent were to be charged its fair proportion, as in England,
the balance would be shifted, and bring them from $20,000,000 to
$40,000,000 in debt. The amount o f free matter which leaves W ashington
alone is upwards o f 5,000 tons per annum. The Post-office Com mittee
estimated the franked matter, at the usual rates, at $2,500,000 per year.
I f this franked matter had rbeen paid for at the usual rates for the last
fourteen years, there would now be a credit to the Department, instead o f
a deficit, o f $18,919,172, without reckoning interest. This is one class o f
burdens. Another has always been the desire on the part o f persons
in sparse settlements to have the mail carried in four-horse coaches instead
o f on horseback, or in sulkeys— thus introducing a m ore expensive kind
o f service. W h y ? Because the travel is insufficient to sustain lines o f
coaches, and if the burden can be thrown upon the Post-office in this
way, it is regarded as so much gained.




A s a M eans o f M odern Civilization.

691

A clerk, recently em ployed in the contract department, inform ed us
that they had now g ot in the way o f testing such applications, by request­
in g postmasters at certain points to weigh the mails every day for one
week, and report. The result usually was something like this— say fortyfive pounds one day, thirty-five the next, forty the third, and so o n ; which
would show at once, the necessity for nothing m ore than horseback power.
Another burden, and a very heavy one, is the ocean service. The
amount paid for transporting the mails in steamships, on the ocean, in
1854, w a s$2,023,010 29. To the three lines crossing the Atlantic, viz.:
Collins line, the Bremen and Southampton line, and the Havre lines, the
amount paid was $1,178,833 26. The total net revenue realized in
postage on account o f this sum, was but $237,588 09, or less than twenty
per cent o f the amount paid. Loss on the three lines, $941,245 17, or
over eighty per cent. The Collins line is paid $858,000 per year for
twenty-six round trips, or $33,000 per trip. Form erly it was $19,250 per
trip, but was raised to the former sum. The government g ot back for
this in postage, in 1854, $153,377 61 ; less than eighteen per cent o f she
amount paid for transportation. W h a t service does Mr. Collins
(form
for this m oney? H e carried in 1854, 1,086,495 letters, which was an
average o f 41,019 per trip. This makes, on an average o f fifty letters to
the pound, 820 pounds. H e carried also 630,685 newspapers, or an
average o f 24,257 per trip, which at one-and-a-half ounces each, would
weigh about 2,274 pounds. The agregate, including bags, would make
about one-and-a-half tons per trip. The bags charged as freight, either by
the Collins or Cunard steamers, would amount to less than $100. A round
trip in the New Y ork or Boston packets o f the same bulk, would be
charged about $30. Mr. Collins thus receives from governm ent $33,000
for a service, for which he would charge a merchant less than $100. H e
was paid about fifty cents for each letter and newspaper w hich he trans­
ported. The transit o f the 630,685 newspapers sent in 1854 would, at
this rate, cost $315,342. For this government receives tw o cents each,
which includes handling, amounting to $12,613, showing a deficiency o f
over $300,000 on this one item.
W ou ld not such financiering bankrupt any business firm in Christendom ?
And yet, the first synopsis o f the President’s message, which came to us
over the telegraphic wires, announced the important fact, that the Postoffice was over $2,500,000 in arears.

W e have thus presented some o f the causes for this appearance— and
shown, as we trust, that it is only an appearance. The question naturally
arises, why pay steamships for transporting the mails more than five times
the whole receipts of postage ? The answer to this question is given in
the following extract from the Postmaster-General’s report:—
“ The object of Congress,” he says, “ in the passage of this A ct, [authorizing a
contract to carry the ocean mails,] seems to have been to build a naval steam
marine which might temporarily be employed fo r commercial purposes.”

A naval steam marine may be all very well, but why, in the name of
humanity, should it be saddled as a tax upon letter postage ? Rev. Dr.
Bacon, in an able article on the subject, asks :—
“ W hy should we, in the walks of private life, pay our own postage, and that
of members of Congress beside ? In great Britain, Mr. Hill's system has abolished
franking. The Department is no respector of persons. The queen herself, as we
understand the case, pays her postage like an honest woman.”




692

The Post-office as it has been, is, and should b e:

N obody expects the State, W ar, Navy, Judiciary, or in short, any other
department o f governm ent will sustain themselves; but the Post-office—
the one which comes home to the business and affections o f the great
universal public, m ore than all the others combined, is, as now managed,
made to carry, in addition to its own proper burdens, those o f all the other
departments. It has to carry over 5,000 tons o f government corres­
pondence and printed matter, amounting, at the usual rates, to over twoand-a-half millions o f dollars annually. It is taxed to the amount o f nearly
$2,000,000 a year to build up a naval steam marine. It wastes, accord­
ing to the estimate o f Mr. Miles, and which is partly corroborated by
Major H obbie, nearly $1,000,000 annually in useless labor— to say nothing
o f its liability to be used as avast political machine for rewarding friends,
and not rewarding enem ies; and yet it is held up to the world by officers
high in the government, as running behind hand.
I f such burdens were imposed, and such injustice practiced am ong in­
dividuals, our thoughts would at once recur to the machinery o f courts,
and governm ent accommodations, as a means o f redress.
H aving gone over the ground with regard to the necessity for postal
reform, it now remains to explain, as briefly as may be, the kind o f reform
proposed.
This subject has received a good deal o f attention by large committees
in New Y ork and Boston. The principles adopted by them, and for which
they have concluded to petition Congress, are the following, v iz .:—
N o. 1.
2.
3.

4.
5.
6.
7.

No F ranking .

L et G overnment P ay
U niform P ostage , T wo C ents, which
F ree L etter D elivery .
N o C ompulsory P repayment .
D ead L etters to be B eturned .
P ost-O ffice M oney O rders .
C heap O cean P ostage.

its own
includes

P ostage.
D elivery .

W ith regard to the first proposition, there seems to be but little differ­
ence o f opinion. The sentiment is nearly universal that governm ent should
pay its own postage.
2d. Uniform postage, two cents. W h o can doubt, who carefully studies
the facts, that this sum will be remunerating?
The Postmaster-General’s estimate o f expenses for the coining year,
including all the extraordinary expenses for ocean service, &c., is
$10,199,024.
A re we asked how these expenses are to be met under the new system !
W e will answer b y submitting an estimate, which, we believe, can be
realized within a reasonable time, provided the new system is carried out
in g ood faith. It is th is :—
Estimate of income on 300,000,000 of letters (about two-thirds the num­
ber in England) at 2 cen ts..........................................................................
On newspapers and periodicals.....................................................................
On 5,000 tons o f government m atter............................................................
Amount to navy estimates..............................................................................
Aggregate..................................................................................................

$0,000,000
1,500,000
2,500,000
1,500,000
$11,500,000

W h ich leaves a surplus o f $1,300,000 for contingencies. It also leaves
out o f view the $1,000,000 expended in useless labor.
The postmaster o f Liverpool was asked by the Parliamentary Commit­




A s a M eans o f M odern Civilization.

693

tee, “ the best way o f increasing the revenue ?” His answer was, “ A great
many deliveries, facilities for sending letters, and quickness o f dispatch,
must be the best way o f raising revenue.”
Rowland H ill’s propositions
in 1837 were essentially the same, viz.:—
1.
2.
3.
4.

Uniform rate o f postage.
Increased speed in delivering letters.
Greater facilities for their dispatch.
Simplification in operations in the Post-office.

Experience has demonstrated the practical character o f all these propo­
sitions. B y the simplification o f operations, it actually cost the British
Department less to handle the letters in 1845 than in 1839, although the
increase was over threefold.
The cost o f handling letters in 1839 was 3
cents each, and in 1854 7 mills each ; while in the United States it was
21 mills each. It takes twice the number o f clerks, under our system, to
do the same work as in England. It has been stated, as a striking illus­
tration o f the want o f simplification under our system, that the number
o f rates o f postage between a primer and W ebster’s D ictionary amounts
to 1,224.
3d. Free delivery. This is the right arm o f the English system. W h ile
it is a great public convenience, it is at the same time the most profitable
branch o f the service.
In London there are 1,385 letter-carriers, 498
receiving-houses, and from 3 to 10 deliveries daily. The latter are to be
increased to a delivery every hour. In Dublin there are 7 deliveries d a ily ;
and in Glasgow, Manchester, and Edinburgh, 4 daily. A n Am erican gen­
tleman residing in England, writes that he has often dropped a letter in a
receiving-house, had it delivered to his correspondent several miles away,
and received an answer by a letter-carrier, at his door, in three hours.
W h at are called the local or drop-letters in England comprise 47 per cent
o f their w hole number.

The number of local or drop-letters in the six principal cities o f Eng­
land were 74,005 ,7 91 ; while in the six principal cities o f this country the
number was 290,694. Had the proportion been the same as in the British
cities, it would have been 26,863,552— an increase o f nearly 100 to 1.
The expenses of these six English cities were but 18 per cent of the re­
ceipts, leaving a profit to the Department of $1,518,348, or 82 per cent.
The advantages o f a well-arranged system of free delivery in our cities
and large towns, can be hardly over-estimated in a merely economical
point of view— to say nothing o f its vast social and moral advan­
tages. Upon the principle that “ a penny saved is a penny earned,” who
can estimate the amount of saving in the number o f useless steps taken in
traveling to and from the post-office ?
It has been estimated by those having the means o f ju dgin g in such
matters, that o f those who call at the post-office windows for letters that
only about 1 in 4 obtain them.
The letter-carrier, on his regular circuit,
does the running for his w hole district, and loses neither time nor steps
The loss o f time, by a want o f system in these things, is generally over­
looked. A n intelligent and active newspaper-carrier can earn from $20
to $30 per week in selling papers at 1 and 2 cents each. H is profits ar«
one-third and two-thirds o f 1 cent on each paper, which includes the
trouble o f collecting and the risks o f business.
The governm ent lettercarrier runs no risks. H is collections are only for non-prepayment, which




694

The Post-office as it has been, is, and should b e:

is tw o postages, or 4 cents.
A friend who lived one mile from the postoffice, gave us the follow ing estimate, which will farther illustrate this
p o in t :—
H e visited the post-office twice each day, excepting Sundays, which
visits averaged about one hour each. This was equal to 620 hours, or 62
days o f 10 hours each per y e a r ; and if we estimate his time at 25 cents
per hour— about the price o f a hand-cartman’s wages— it amounts to the
modest sum o f $155 per annum !
W e have no doubt, from estimates we have seen, that a free delivery
system could be arranged, by which the twelve or fourteen cities and
towns immediately around Boston could have their letters left at the door
o f each citizen, several times a day, at a cost not much exceeding that
now paid for salaries and rents for postmasters. W h en we consider that
there are some 7,000 persons doing business in Boston, who reside in its
suburbs, and whose families would have constant occasion for intercourse
by letter, who can estimate the vast social and econom ical advantages
grow ing out o f such a system ?
The cities and large towns are points to which government must k>ok
mainly for letters as a means o f revenue, and it is here that the number
must be developed. W h ile London contains but one-twelfth o f the popu­
lation o f the kingdom , it furnishes one-fourth o f the letters; and yet her
number o f letters to each individual is the least o f the six principal cities
o f Great Britain.
It is 43 to each person in London, while it is 57 in
Bristol and Manchester, and in Dublin 46.
Even the metropolis o f old
Ireland, with these enlarged postal facilities, loom s above the metropolis
o f the world in the extent o f its correspondence.
The same rule holds
good in this country. The mercantile, trading, and professional classes
write the largest portion o f the letters.
In the six cities o f N ew Y ork,
Philadelphia, Baltimore, Boston, New Orleans, and Cincinnati, the number
o f letters was 24 to each inhabitant, while in the rest o f the country it
was but 4.
It is estimated that 4,000,000 o f inhabitants in the cities and large
towns write 97,000,000 o f the 120,000,000 o f letters in this country,
and pay $3,840,000 o f postal revenue; while the remaining 24,000,000
pay but $2,415,000.
It is, therefore, doing no injustice to the rural dis­
tricts, but rather aiding them, to multiply facilities in the populous parts,
as it is here that the surplus money is earned to make g ood the deficiency
which always exists in running the mail through thinly settled portions o f
the country.
4th. N o compulsory prepayment. The reason for this is, that stamps
are often stolen, or drop off in the post-office, and it is thought too great
a penalty to hold back a letter for this cause, w hich often proves o f great
value and importance to the parties concerned.
The proposed penalty,
therefore, for non-prepayment, is simply double postage.
This has been
thoroughly tested in England, and it is found that 971 per cent o f th#
letters are prepaid.
5th. Dead letters to be returned.
This is done in England every six
days, and when the name o f the writer is on the seal or letter, they are
returned to him unopened, instead o f waiting six months, and then burned,
as now practiced under our system.
The number o f dead letters in Eng­
land is 5 to every 1,000, while in this country it is nearly 44 to 1,000,




695

A s a Means o f M odern Civilization.

This faet goes far to show the certainty, as well as promptness, o f a system
o f free delivery.
6th. Post-office money-orders.
The money-order system o f England
consists simply in a machinery which enables persons to transmit small
sums, not exceeding $25, through the medium o f drafts from one postoffice on another.
It com m enced in 1839, in which year the number o f
money-orders drawn was—No. of orders.

1839 ....................................................
1847....................................................
1854
..........................................
1855
..........................................

188,921
4,031,185
5,466,242
5,807,412

Amount.

$1,565,623
39,515,886
62,321,059
55,046,400

The whole number o f orders in 17 years was rising o f 59,000,000, and
the amount o f money remitted was rising o f $577,000,000— a sum nearly
equal to the valuation o f Massachusetts in 1850.
The system is there
spoken o f as a “ gigantic auxiliary for carrying out the Penny Postage
scheme,” and as a “ necessity o f their social fabric, as they facilitate trade
and the comforts o f society to an incalculable extent.”
The amount o f
money transmitted in our mails is estimated at $100,000,000 per yea r;
o f this, over $2,000,000 finds its way into the dead letter office— to say
nothing o f the amount lost b y fires, robberies, & c. The frequency o f the
latter is a subject o f public concern. W h en it is considered that post­
masters and their clerks form an army o f 50,000 persons, with the tempta­
tion before them o f purloining m oney, it can readily be seen that there
are great facilities for demoralization, and that the money-order system,
while it affords great facilities to the public, at the same time removes one
o f the main causes o f temptation.
7th. Cheap ocean postage.
It is well known that the cost o f transit
by water is the cheapest o f all modes, and there is, therefore, no valid
reason why ocean postage should be at higher rates than inland. The
postage on ship letters used to be 6 cen ts; but when private parties, in
connection with the government, conceived the idea o f building up a steam
marine, with as little expense as possible to the government, it was re­
garded as a shrewd financial transaction to raise as much o f the amount
required as possible by a tax on postage.
Hence, the present rate o f 24
cents.
That this rate is extortionary, will be sufficiently manifest in view o f a
few facts.
A ton o f freight by Train & C o’s, packets averages about 20
shillings, or $ 4 ; by the steamers it would be more.
A s letters average
about 50 to the pound, a ton would make 112,000 letters.
I f we deduct
even $100 for transit and 7 mills for handling, we still have left $1,360
for profit and contingencies. The amount o f such profits may appear a
little like hom eopathic doses, but will, we submit, answer tolerably well
when they com e in showers, as must necessarily be the case between two
such continents as Europe and Am erica.
Can a g ood reason be given
why the transit o f one ounce o f paper across the Atlantic should cost m ore
than a barrel o f flour— an advance o f 3,392 per cent ? The London
Atheneum has an article, com m encing with the question, “ W ou ld ocean
postage pay ?” A m on g the points made is one which is thus quaintly
stated:—
Compared with the charge for goods and passengers, the letter rate is enor­
mously high. A man weighing 200 pounds— not to speak of his trunks, boxes,




696

The Post-office as it has been, is, and should be.

portmanteaus— will take up at least ten times as much room as a bag of letters o f
equal weight. He will consume no small quantity of ducks, fowls, bread, wine,
beer, and vegetables ; he will expect to be served with attention night and d a y ;
he will claim a right to quarrel with the officers and abuse the captain ; he will,
perhaps, smoke and swear, and otherwise worry the passengers in the cabin— yet
he will have to pay for all these luxuries only some £30 ; while a harmless bag o f
letters of equal weight, content with a dark corner and with being left alone; is
mulcted for its simple transport from Broadway to St. George’s Pier, more than
£230 ! W e now speak of the actual and the possible. If 200 weight of whims
and wants, flesh and phantasies, besides luggage, can be taken from Liverpool to
New Y ork for £30, by the mail packets, surely a bale of letters, like a bale of cot­
ton, may be carried for a third of the money.

W e have thus gone through with the various points presented by the
New York and Boston committee.
W e beg leave, therefore, to submit the question to your candid judg­
ment. To all who are satisfied that the facts presented make out a case
which calls for the action o f government upon the question, we invoke
their aid, not only in signing a petition to Congress themselves, but in in­
ducing their neighbors to do the same— male and female— for this is a
question that concerns the female sex as well as the lords of creation. It
is believed that o f the letters written outside o f business circles, those
which relate to family and social circles, those written and received by
mothers and sisters—-to say nothing o f those o f a more delicate nature—
a large proportion are by the female sex. W e submit, therefore, that as
it is a question which directly concerns their daily life and wants, it is
perfectly legitimate for them to make known those wants to the assembled
wisdom of the nation.
To the people of New England, and of Massachusetts in particular, it is,
we submit, a question of paramount importance. W hile her children are
going forth to plant her principles and institutions in all portions of the
broad West, the facilities for holding intercourse with them should be as
free and easy as any that exist in the civilized world.
When Rowland Hill first published his plan, the merchants were the
first to lead off in the matter. They associated for the purpose of collect­
ing and diffusing information, which aroused the British mind and affec­
tions, and thus prompted petitions, with over 38,000 names, to pour into
the House of Commons the first year. They proceeded from Town Coun­
cils, Chambers of Commerce, Commissioners of Supply, insurance offices,
printing offices, banks, charities, mechanics’ institutes, &c., &c.
Govern­
ment gave these petitions, the first year, the cold shoulder. The next year
the agitation increased, and the number of petitions exceeded 200,000.
The demand was so universal that the government yielded to the pop­
ular wish, and in so doing, have done more to satisfy her people and
to consolidate the British empire, than any other one act within a
century.
W hat has made England in times past the great workshop, as well as
the great carrier, o f the world ? Is it not her economical, industrial,
social, and moral machinery, which have been in advance of her neigh­
bors ? Is not this the source of her wealth and power ? Mr. Stephenson,
one of her most eminent engineers, in a recent address, recapitulates some
o f her economies. Among them is that of railroads. He contends that
if they were suspended, the same amount of traffic could not be carried
on under a cost of $300,000,000 yearly— a saving of $200,000,000 per




Uniform Currency.

697

annum. To tlie public, he says, “ time is m on ey ;” and in point o f time,
a farther saving is effected, for on every journey o f 12 miles an hour is
saved to 11,000,000 o f passengers, which is equal to 38,000 years in the
life o f a man working 8 hours per day. This, at 75 cents per day, amounts
to some $10,000,000 in addition.
The same law o f econom y holds g ood
when applied to the post-office.
Shall we, her children, fold our arms and leave to her, uncontested, the
proud supremacy she now occupies in these respects ? Is not such a postal
system, fraught with such means o f good to the human race, worth im ­
porting and establishing in this favored land ?
To the citizens o f the United States, we beg to submit this question.

Art. I I I . — U N I F O R M

CURRENCY.

T h e discovery o f gold in Callifornia and Australia is producing changes
and disturbances in every department o f business. Its influence has
already been decided and real, even in the brief period that has elapsed
since it began to operate; in five or six years its effects could not be very
large, but they have been sensible and measurable, indicating how great
they will becom e when they have been allowed time for accumulation.
The progress is slow and noiseless, but it is wide-spread and all-penetrat­
ing. A s the annual supplies of the precious metals are poured into the
channels o f trade, they swell the magnitude o f the current, change the
prices o f merchandise, interfere with the contracts between man and man,
and disturb all the operations o f commerce. B y altering the relative
proportions o f gold and silver they encourage governments to call in their
old coins, and stamp them with new values, or to change one standard for
another, thus w ronging their creditors and violating the contracts they
have made with the people. A s the advance in some products will take
place sooner than in others, prices will be changed irregularly. Inequality
and injustice will be introduced into almost every branch o f trade, and
where long contracts are made, as in railroad bonds or government stocks,
the depreciation o f the metallic currency cannot fail to w ork a large and
serious injury.
Many questions o f im portance are suggested by these changes. The
adoption o f a single standard o f value, instead o f the double one o f gold
and silver, uniformity in the coinage o f the different countries, the exten­
sion o f the decimal system o f France and United States to the several
countries o f E u rop e; these and other questions are important, because
they relate to the subject o f money, in which such deep interest is felt by
all classes o f society, and to the justice or injustice o f governments, whose
highest duty is to preserve honesty and good faith am ong the people.
It is doubted by some persons whether the large supplies o f gold from
the mines o f Russia, California, and Australia have yet produced any ap­
preciable effect upon its value. But the changes already effected in the
currency o f the United States and o f France, and the knowledge we pos­
sess o f the amount o f coin in Europe and Am erica, and o f the annual
supplies received from the mines, forbid us to indulge in any doubt on this
subject. The history o f our gold currency in the United States is o f itself




698

U niform Currency.

decisive o f this question; twenty-five years ago our gold eagle would not
circulate with our silver dollar, although their comparative w eight is
nearly the same as now, when both metals are daily exchanged for each
other. Before 1834 we had no gold coin in our currency, every eagle that
was issued from the mint was immediately bought up and exported to for­
eign markets. The im porter o f French silks and wines could discharge
m ore o f his indebtedness by one hundred eagles than by a thousand silver
dollars. W h en these were carried to the mint o f Paris and melted down
into bullion and re-stamped as French coin, the g old made a larger num­
ber o f francs than the silver. The same was true at London, where the two
metals had no legal relation to each other. The half-eagle was heavier
than the English guinea, but five silver dollars would not sell for twentyone shillings, sterling money. The N ew Y ork merchant, therefore, w ho
desired to pay his debt in England with coin, when the exchanges between
N ew Y ork and Liverpool were unfavorable, preferred to send eagles rather
than dollars; in fact, the price o f the ten-dollar g old piece was quoted
from $10 40 to $10 60 ; that is, one hundred eagles were worth 1,040 to
1,060 dollars o f silver.
A t present, both our metallic coins circulate together, ten eagles are
equivalent to one hundred silver dollars; neither is quoted at a discount.
W h en an export o f the precious metals takes place both are shipped
together, the difference o f value is so slight as to be inappreciable to the
brokers, who are sending coin abroad to meet their bills o f exchange or
pay their foreign indebtedness. The quotations o f bullion in the Liver­
pool market during the year 1855, placed gold o f our standard at 75
shillings per ounce, and silver o f the same fineness from 5 shillings to 5
shillings l i pence. The average o f these quotations gives a ratio o f 14.81
between the two precious m etals; as our eagle contains 258 grains, and
ten silver dollars contain 3,840 grains o f the same fineness, their ratio is
14.89. The market value o f bullion at Liverpool being thus nearly the
same as the mint valuation, there is little if any choice which metal should
be selected for exportation. A t the average quotations just given, it
would be best to remit silver, since g old is valued a little higher at the
mint than at Liverpool, but the difference is too small to be o f any im ­
portance. Under the old coinage law o f 1792, w hich remained in force
until 1834, the eagle contained 270 grains, 22 carats fine, and the dollar
416 grains o f a fineness o f 8,924 ten-thousandths. This gave a relative
value o f 1 5 ; that is, every thousand dollars o f silver contained fifteen
times as many grains o f the pure metal as a thousand dollars o f gold.
It thus appears that when our g old dollar was lighter than it now is
compared with silver, containing o f pure metal only 6| per cent o f the
weight o f the silver dollar, it was all exported as soon as it came from the
mint, being sold in the market at 4 or 5 or 6 per cent premium, and that
now, when it contains a larger proportion o f gold, 6.71 per cent, it circu ­
lates freely with the silver, and is not preferred at all for exportation.
This history is decisive o f the fall o f gold or the rise o f silver, because
it shows that the price o f gold, measured in silver, has declined in the
last thirty years. As, however, the supply o f silver has been nearly
stationary, and the demand for it nearly the same, while the supply o f gold
has largely increased, it is evident that it is the gold which has depreciated,
and not the silver that has risen in value.
The history o f our currency from 1834 to 1853 is a confirmation o f the




Uniform Currency.

699

conclusion just mentioned. Under the influence o f General Jackson and
Col. Benton, our Congress passed a law in 1834, lessening the weight o f
the gold eagle from 270 to 258 grains. In 1837 its fineness was altered
from 22 carats to 900 thousandths. The fineness o f the silver dollar was
also changed to 900 thousandths, but its weight was so altered that the
amount o f pure silver in the coin remained the same as before. The
changes in the gold coin were, however, both in the same direction ; it was
made lighter and less pure, the alloy was increased from T'5 to TV, and the
weight was lessened twelve grains.
The effect o f this alteration in the mint value o f g old was to introduce
it freely into our circulation. It did not com e in rapidly so as to exclude
the silver, but it came in abundantly. The two metals circulated together
and were readily exchanged for each o th e r; the country banks generally
held the specie in silver, and often sold gold at a premium, but the city
banks held both the precious metals in their vaults, and generally paid out
both at their counters without any decided preference ; everything moved
on without disturbance until the discovery o f the California mines in
1849. The treasures o f Australia were opened in 1851, and the production
o f the two countries soon told upon our cu rren cy; the silver coin was
rapidly bought up for export, the country merchants carried the dollars and
half-dollars received at their stores to New Y ork, and sold them at a pre­
mium ; the banks, finding their silver above par, sold it for gold, gaining
three or four per cent by the exchange ; their vaults were replenished with
eagles instead o f dollars, to redeem their bills and pay their depositors.
The brokers sent our silver abroad until all the channels o f circulation
were drained, and small change becam e so scarce that it caused great
inconvenience in our daily transactions o f business. In 1853, Congress
interfered and reduced the weight o f the dollar from 41 2-t grains to 384,
to prevent its exportation. The mint came into the market and by paying
3 or 4 or 5 per cent premium for the silver in circulation, and by stamping
a less quantity than before with the old names o f half-dollar and dime, it
has supplied us again with a silver currency. This interference o f Con­
gress was an acknowledgement o f the depreciation o f gold. The object
and intention o f the act o f 1853 was to prevent the exportation o f the
silver coin, and it effected this object by debasing the dollar, so as to put it
on a par with the g old that had already been depreciated by its abun­
dance.
These two periods in our history tell, therefore, the same story. In 1830
and 1856 the comparative w eight o f the g old and silver coins o f the same
name were nearly the same, but in 1830 the gold was withdrawn from
circulation on account o f its superior value, while in 1856 it circulates
freely. In 1840 and in 1852 the two were o f exactly the same com para­
tive weight, but the silver was withdrawn in 1852, while both circulated
together in 1840. In the first case, the mint valuation in 1830 was below
the market price, but its depreciation in 1850 brought the two together.
In the second case, the value at the mint and in the market in 1840 were
the same, but the depreciation o f the gold in 1852 brought it below the
market price o f silver, and drove the silver out o f circulation. The m ove­
ments o f the currency in other countries accord with this conclusion. In
England gold is the only legal tender, except for small sums under forty
shillings, silver being estimated higher by the mint than it is in the bullion
market, the depreciation in g old has not yet made itself apparent in the




'00

Uniform Currency.

withdrawal o f the silver; the inferior currency, when both circulate toge­
ther, will always drive out the superior. But the English silver o f 18+0,
although inferior, could not displace the gold, because o f its illegal char­
acter for large amounts, and the limited amount in circulation. B y the
act o f Parliament passed in 1816, the silver crown o f five shillings was
made to contain 403.6 grains o f pure silver, and as the pound contains 113
grains o f pure gold, the ratio o f the two metals at the mint is only 14.2V,
and as gdld, although it has now depreciated considerably, is yet nearly 15
times higher than silver, its legal value in the current coin is so low that
it is m ore profitable to export it than silver. N o disturbance has there­
fore taken place in the English currency on account o f the depreciation o f
gold in the markets o f the world. The silver coin is never exported, because
it is rated too high at the English m in t; it cannot push out the gold from
circulation, because it is not a legal tender for large amounts, and thus all
is quiet and steady.
In France, however, where the two metals have both been legal curren­
cies, the equilibrium has been disturbed precisely as in the United States.
The mint price o f gold is 151 times that o f silver; before 1850, this was
lower than the market value, and by consequence silver was the greatm edium o f circulation, and g old was at a premium ; the price o f gold was but
little higher in the market than at the mint, but still the excess was appre­
ciable. The agio, or per centage above par, was seldom more than one
or ly per cent. Twelve-thousandths was a com m on quotation at Paris,
and as gold was more convenient than silver for many o f the uses o f cur­
rency, this premium was readily given, silver was generally used in trade
and in the small transactions o f business, the gold by travelers and in the
larger operations o f com m erce where bank notes might not be employed.
The currency was therefore mainly o f silver, on the principle well known
and universally acknowledged, that if two mediums be both current the
inferior will always exclude the superior. The exclusion was not complete,
because gold was wanted for some purposes in which it was preferable
to silver. The estimate o f the circulating coin in France, by Mr. Leon
Faucher, a banker and financier o f high authority, gave S,000 millions o f
silver in francs and 350 millions o f gold, m aking a proportion o f more
than eight to one.
But since 1850 all this is changed, the agio on gold has entirely disap­
peared, and silver is now quoted at a premium. The bankers are now
buying up the five-franc pieces, which have so long been the principal
currency o f France, and sending them abroad to meet their foreign indebt­
edness ; g old is flowing into the country to supply its place. The Paris
mint is busy coining Napoleons and not francs, slowdy but surely the
silver is drawn from the provincial channels o f circulation, and its place
supplied with the new treasures o f California and Australia. D uring the
year 1855 the exports o f silver were 318,000,000 o f francs against an
im port o f 121, showing a loss o f 197,000,000 in a single yea r; at the
same time the im ports o f gold were 381,000,000 against an expert o f 163,
showing a gain o f 2 18,000,000, which slightly exceeds the loss o f silver.
D uring the last three years the imports o f gold over silver were
923,000,000, and the exports o f silver over gold were over 479,000,000.
F or a lo n g period o f time the currency o f France has been stable, when
suddenly it is disturbed throughout the whole extent o f the empire. The
jewellers and manufacturers o f plate have been melting down the silver




701

Uniform Currency.

for the arts and the luxuries of the people, the friction o f constant hand­
ling is abrading and lightening the circulating coin, and to meet these
demands no new supply is introduced; on the contrary, the bankers are
busy shipping it abroad and importing gold in its stead. The new gold has
to supply the place not only of the silver exported, but of all that is con­
sumed in the arts. Before 1850 the mint at Paris coined about 15,000,000
of gold francs every year ; now it sends forth about 250,000,000. In
the last live or six years probably one-fourth of the 3,000,000,000 o f
French silver coin has been changed by the substitution o f g o ld ; such a
decided movement o f specie furnishes an unanswerable argument for the
depreciation o f gold since the discoveries of California and Australia in
1849 and 1851.
Some idea may be formed of the amount of this depreciation by the
quotations in the English market o f the price of silver; gold being the only
legal currency of Great Britain, silver is sold in the market as any other
commodity is, at the best price that can be obtained. The immense com­
merce of London and Liverpool with the new world attracts to these ports
nearly all the products of the American mines ; this is the center where they
are gathered and whence they are distributed to Europe and the East ;
the sales being large and frequent, and among many competitors, the mar­
ket price approximates very nearly to the true value. As silver is easily
moved from port to port, and the supply and demand both remarkably
stable, the price is steady and without much fluctuation ; one or two per
cent in a year is the utmost range of prices. The sales being paid for in
gold, which is the English standard o f value, the price o f silver will rise
as gold depreciates, and this rise of one will measure the comparative de­
preciation of the other; the quotations for Mexican dollars per ounce on
the first of January of the following years have been :—

1849.

1850.

1851.

1852.

1854.

1855.

1856.

58J

58J

59f

694

60£

61f

604

pence. On the 20th o f September o f the present year they were
6 0 4 , and on the 3d o f October, 61 pence per ounce.
I f 6 0 f be taken
as the average rate for 1856, the rise, compared with 1849, would be nearly
3 1 per cent, or compared with 1850, about 3 j per cent. Small as this is it
will disturb the currencies o f every country where both metals are a legal
tender, causing an export o f silver and a substitution o f gold in its
stead.

All these movements of the currency in the United States and France,
and in other parts o f the civilized world, do not establish a depre­
ciation in the precious metals, but only an alteration in the relative value
of gold and silver. W e have spoken o f the change as if it were caused
by a depreciation in gold, because o f the great increase in its production,
while that of silver remained stationary ; but nothing yet brought forward
reaches the question whether the circulating coin, which is the legal mea­
sure of value, and the great standard by which all the transactions o f trade
and commerce are compared, has declined or advanced. Both may have
risen, and silver more than gold ; both may have declined, and then it must
have been gold more than silver; but whether the whole mass of the
precious metals has varied, so as to cause an advance or a decline in prices,
or whether one has remained stationary, is another question, and one of
great importance.




1 02

Uniform Currency.

It is a com m on opinion that the recent large supplies o f gold have
already produced a marked effect on prices, that the high rates which
have prevailed for corn, cotton, and slaves, for sugar, coffee, and iron, have
been in part brought about by the enlargement o f the currency o f the
world. The slight depreciation o f gold compared with silver, which we
have been hitherto discussing, could not have produced any considerable
portion o f these advances. A decline in gold o f 3 or 4 per cent would
only raise cotton a quarter o f a cent per pound, and this is almost inappre­
ciable in the many fluctuations to which it is liable. The average
advance in cotton, for example, during the last five years is much greater
than this.
Total exports of cotton from 1845 to 1850 were................................lbs. 8,744,000,000
Their official value w a s ................................................................................ $276,318,093
Making an average price per pound o f...................................................... 7 cents 4 mills
In the five years from 1850 to 1855 the exports amounted to .............
Their official value w a s ...............................................................................
Giving an average price o f .........................................................................

4,745)000,000
$475,010,289
10 cts. per lb.

There is a rise o f two cents and six mills, wThich is thirty-five per cent
on the average from 1845 to 1850.
Similar advances have taken place in many important articles o f com ­
merce, and it is obvious that the small depreciation o f gold, compared
with silver, amounting to 3 or 4 per cent, is insignificant and almost inap­
preciable, amongst the other disturbances to which the prices o f all kinds
o f production are exposed.
Let us inquire, then, what is the amount o f increase in the circulation ?
Has it caused an advance in prices, or has it been only one o f many other
causes ? H ave silver and gold both depreciated \ A n d must the two be
regarded as one in estimating their effect on prices ?
Many estimates have been made o f the amount o f the metallic cur­
rency. Som e o f these have been made by bankers and financiers ; some
b y ministers o f government, by officers o f the mint, by parliamentary
committees, by writers on political e co n o m y ; and some b y statisticians
who have studied this subject with much industry and labor. The facts
that have been thus collected have not brought the different estimates
very near each other, but they are sufficiently near for our present purpose.
The results o f the several authorities have fixed the currencies o f Europe
and Am erica, for the year 1850, at from twelve to fifteen hundred millions
o f dollars. Since that time the supplies from the mines have furnished to
the mints five or six hundred millions, thus making an increase o f 30 or
40 per cent. A s an increase o f the circulating medium advances the price
o f com m odities in the same ratio, if everything else remains the same, we
have this astonishing result, that the mere change in the supply o f the
precious metals has raised the price o f every article o f consumption 30
or 40 per cent in the last six years. It is the com m on opinion that the
g old o f California has had some effect o f this kind, and that a great
enhancement o f prices w ill soon take place under its influence, but few
have supposed so large an effect already produced. It is desirable, there­
fore, to investigate the facts with care before so great a change can be ad­
mitted. A rise o f one-third on lands, houses, and slaves, on all the pro­
ductions o f agricultural and manufacturing industry, on wages, rents, and
profits, on everything that is bought and sold, on account o f the mere




U niform Currency.

70 3

enlargement o f the metallic currency, is so astounding a change that it
will claim more particular attention.
A t the commencement o f the present century, the annual supply o f gold
and silver from the Am erican mines was stated by H um boldt at 43,500,000
o f dollars. This distinguished traveler visited the mining countries o f
the N ew W orld , and copied the official accounts o f the mints, the
treasuries, and the custom-houses.
H is history and his reputation
opened to him records that had hitherto been kept secret from the rest o f
the world. H e explored the mines, and learned the methods for smelting
and purifying the silver. H e visited the g old washings and the veins o f
precious ore, and inspected the machinery for crushing the quartz rock
out o f which the g old was gathered. H is reports are, therefore, valuable
and trustworthy. The valuable work o f Mr. Jacob, on “ the Production
and Consumption o f the Precious Metals,” was published in 1831, and brings
our knowledge on this subject dow n to 1830. B y his statistics it appears
that this Am erican supply, after increasing a little up to 1810, fell o ff then
very largely on account o f the Mexican and South Am erican revolutions.
The mints o f Mexico, which in 1800 coined more than half the amount
from Am erica, only issued 19 millions in 1810, and 11 millions in 1811,
and 5 millions in 1812, against 26 millions in 1809. In 1813 this coinage
advanced to 11 millions, and maintained this average up to 1830. Peace
being now generally restored, and English capital extensively introduded,
the Mexican mines began to improve. The reports furnished to the British
Government by their several Am erican consuls, in consequence o f a motion
o f the British Parliament in 1830, and published by M cC o llo u g h in his
“ Com m ercial D ic tio n a r y " in 1839, show that the supply from Am erica
was then 25 millions against 191, the average product o f the preceding
ten years. Since that time the supply has advanced considerably. Several
statements in H u n t's M agazine, and in the London A th eneum , and in the
London Tim es, give the present production at 39 or 40 millions. This
includes all the N orth Am erican and South Am erican mines except Cali­
fornia. The old receipts from H ungary and Saxony, and the rest o f
Europe except Russia, and from the gold dust o f Africa, is only five or six
millions, and is nearly stationary. From Russia the production has largely
and rapidly increased. In 1829 it was three m illions; in 1835, fou r; in
1840, six ; in 1842, ten ; in 1844, thirteen; in 1846, seventeen; in 1848,
twenty ; and in 1850, twenty-one. The necessities o f Russia during the last
five years would encourage the workings o f these Siberian mines, and
thus prevent any decline. Mo increase, however, took place, as the coinage
o f the Russian mints during this period was nearly stationary. It was
f o r :—

1850.
Rubles........................

20,000,000

1851.
18,000,000

1852.

1853.

1854.

20,000,000

21,000,000

21,000,000

From California and Australia have come, however, the largest supplies.
G old was first discovered on our Pacific coast in 1848, but the first deposits
for coinage that year were only $44,177. They increased rapidly for the
next three years, since which time they have remained nearly stationary.
The total deposits o f California g old at the United States mint, both for
coin and for bars, up to the end o f 1855, according to the reports o f the
director o f the mint, have been $313,234,507. The amount that had been
mined and sent off from San Francisco, is, however, much above these de­




704

Uniform Currency.

posits at the mint. For the year 1851, for example, by official returns in
Ohili, $2,372,000 were received from California. The shipments to Europe
by steamers and sailing-vessels, as far as appears by their manifests, were
in the same year 14,600 ,0 00 ; the amounts carried by passengers to
Europe and to the several countries o f South Am erica, were la rg e ; the
consumption by jewellers in California and the United States, of un­
coined dust, was considerable; and the amounts circulated on the Pacific
coasts, o f pieces stamped by private bankers, amounted to several millions.
In 1853 the shipments to London alone were $4,975,662, and in 1854
they were $3,781,080. For the seven years ending with 1855 the total
production must have exceeded four hundred millions. Probably 450
would be near the true production to the end o f 1855, but to err, if at all,
on the safe side, we will count it at only 400 millions.
The Australian gold fields were discovered in 1851. The exports to
Great Britain in this year were £9 06,336. In 1852 they were £9,735,000.
In 1853, 1854, and 1855, they were £10,347,000, £9,028,000, and
£1 1,51 2,00 0. H ere is an official ex p ortof more than two hundred millions
o f dollars. I f to this be added the amounts exported to other countries,
both o f Europe and Am erica, and those carried by passengers and not
entered at the custom-house, the total supply must certainly exceed 210
millions. W e have thus a total production for the six years from 1850 to
1855, inclusive, o f a thousand millions o f dollars, v iz :—
From Mexico aDcl South America.....................................
Europe and Africa ...................................................
R u ssia .'.....................................................................
California..............................................................
Australia....................................................................

$240,000,000
30,000,000
120,000,000
400,000,000
210,000,000

Total in Europe and America......................................

$1,000,000,000

O f this production, and o f the silver coin previously existing, a large
export has been made to India and China. From the time o f Pliny, who
styled the East “ the great sink o f the precious metals,” the outgoings of
specie from Europe to Asia have continued almost without interruption.
In 1800 the annual remittances by the Cape o f Good H ope and the L e­
vant, and through Russia, was placed by H um boldt at $25,500,000. The
great extension o f English manufactures, for a time nearly stopped this
drain. In 1830 the exports o f specie from Bengal to Europe and A m er­
ica exceeded the imports.
The same was true for China in 1832. But
recently the current has returned to its old course, and at the present time
it has swelled to a greater magnitude than at any former period. For
1856 the exports from England alone have been at the rate o f 50,000,000
per annum.
Mr. Walsh, late Professor o f Political Eeconomy in the
University o f Dublin, says that over 105,000,000 have been exported from
England in the five years from 1851 to 1855 :—
For 1855 they were............
For 1854...............................
For 1853.......... ....................

£7,358,161
4,300,302
4,690,867

For 1852................................
For 1861...............................

£3,551,977
1,818,380

Counting in the year 1850, and making a small allowance for other coun­
tries besides Great Britain, and for the trade through Turkey and Russia,
the result for the six years from 1850 to 1855, may possibly reach
140,000,000.
The wear o f the coins, according to Jacob, would amount to 30,000,000




/
705

Uniform, Currency.

for the w hole six years.
The consumption in the arts for jew elry and
plate have been estimated at 28,000,000 per annum by the same author;
at 22,000,000 by Mr. Seaman, in his valuable work on the “ Progress o f
the Nations in Industry and W ealth,” published in 1 8 5 0 ; at 18,000,000
by H u m boldt; and at 17,000,000 by M 'Culloch.
Taking the highest o f
these estimates, and allowing for an increase, the increase in population
and wealth for the last five years, the consumption in the arts may be
counted at 30,000,000 per annum.
The total outgoings, then, from the
thousand millions produced will be 350,000,000, v iz .:—
For the exports to Asia . . . . ......................................
For the wear and loss o f coin........................................
For consumption in the arts..........................................

140,000,000
30.000,000
180,000,000

Making a total o f................... .....................................
And leaving for new coinage........................................

350,000,000
650,000,000

N o one can review these figures without perceiving that this result is
the minimum addition that has been made to the metallic currency o f
1850, the smallest allowances for supplies and the largest estimates for
consumption having been uniformly adopted.
It might be a matter o f interest to know where this accumulated treas­
ure has gone. B y reference to the coinage o f our mints, and our exports
o f specie to foreign countries, as published by the Secretary o f the Treas­
ury, it will be seen that the coinage o f gold in the six years ending 1855
amounted to $313,1)32,820 ; while the excess o f our exports o f specie over
the imports in the same period were only $174,394,190. Besides this ad­
dition to our dom estic coin o f more than 135,000,000, it is well known
that many millions more are brought in annually by immigrants from
abroad, and this importation, unnoticed at the custom-house, far exceeds
the consumption in the arts and the loss by wearing and by other causes,
so that not less than 150,000,000 o f the 650,000,000 added to the cur­
rency o f the world are to be found in the United States. I f this increase
in other countries is only half as rapid as it is here, the whole o f the new
supply is easily accounted for.
In a recent report, made to the Em peror o f the French by his Minister
o f Finance, we learn that the excess o f imports over exports in France,
since 1850, has been 160,000,000, so that even after allowing for losses and
consumption in France, much more than 100,000,000 o f the 650,000,000
is to be found in that country. The remainder is to be looked for in the
rest o f Europe.

The total amount of the precious metals used as coin was estimated by
Jacob, in 1830, at $1,500,000,000.
They were then decreasing, but the
revived working of the American mines, and the rapid advance o f the Rus­
sian supply, soon put a stop to the decrease, and kept them nearly sta­
tionary until 1850.
Humboldt’s estimate for the year 1800 was lower
than Jacob’s; Seaman’s, for 1830, and 1840, and 1850, is very nearly
1,200,000,000 for each o f the three periods.
If we take the largest o f
these, the addition of 650,000,000 is 43 per cent on the coin in circulation
in 1850.
An enlargement of the currency, if everything else remained the same,
would cause an advance of the price o f commodities in precisely the same
ratio. This principle we are familiar with ia the expansion and contrac­
tion of our banks, and it is confirmed by all experience. Its operation is
V O L . X X X V .-----N O . V I .




45

foe

Uniform, Currency.

readily seen when irredeemable paper money constitutes the currency
but the principle is precisely the same when the circulating medium con­
sists of coin. In both cases, a decrease in the worth of the usual measure
of value causes prices to advance. Just as a diminution of the length of
a yard-stick would increase the number of yards in a piece of cloth, or a
lightening of the pound weight would increase the number of pounds in
a bag of cotton, so the reduction in the worth o f a dollar would increase
the number of dollars for which any article might be purchased— that is,
would advance all the prices of merchandise. The yard is the unit o f
length, the pound of weight, and the dollar o f value; and any diminution
in either increases the number of times that the unit would be contained
in the given magnitude. Money is not a perfect invariable measure of
value, but it is the legal and the common one.
The yard is subject to
some changes from temperature, still it is the legal standard by which all
linear distances are reckoned.
The pound changes its true weight when
the air that surrounds it expands or contracts, or when it is carried to dif­
ferent latitudes or elevations.
These, then, are not perfect measures— in
fact, for some of the exacter purposes of science, allowances are made for
these variations, so as to obtain an unchangeable standard. In like man­
ner is gold an imperfect and variable measure o f value, though the legal
and common standard by which all contracts are made.
Now, if this measure should be lessened— if the precious metals could
be found as abundant as coal— if they could be procured as easily as iron,
or copper, or lead— if the cost of producing them should decline— if the
gold dust should descend on the earth in showers, and be gathered as
water— the price o f every commodity must advance in the same ratio as
the standard declines. The price o f a bag of cotton is the number of dol­
lars it will command, and a decline in their worth would enlarge the num­
ber o f dollars that would be required to purchase the cotton.
It does not always follow that an increased abundance o f an article is
an index of its decline. This is generally the case, however. The true
average market value is determined by the cost of production. But when,
in consequence o f the discovery o f new mines more easily and cheaply
worked than those formerly known, the supply of any metal is rapidly in­
creased, it indicates a decline in the cost of production; and the supply
goes on increasing until the price falls to the exact cost of bringing the
metal to market. The enlargement of the supply is a measure of the de­
creasing cost of production.
So the increased amount o f current coin is
a measure of a decrease in its worth and of the advance in the price or
money value of every article o f merchandise.
These consequences are acknowledged by all writers on political econ­
omy, and confirmed by universal experience.
The facts which we have
brought together being once established, the conclusion is irresistible.
The advance o f 43 per cent is, however, only true i f everything else re­
mained the same.
But as the population o f the world has increased a little in six years,
and as commodities have been more or less multiplied, so that a larger
am ount o f specie is needed to circulate them, the average advance in
prices on account o f the gold discoveries o f 1848 and 1851 cannot be as
large as 43 per cent, but must be reduced in proportion to the increased
demand. Our population in the United States and in Canada has in­
creased 15 or 20 per cent in that time, but the rate in Europe is very




Uniform Currency.

707

different. The subjects o f Queen V ictoria are not 5 per cent m ore nu­
merous than in 1850, and the inhabitants o f the other countries o f Europe
not 2 per cent. The increase o f com m odities is not probably larger than
that o f population. A nd to balance these demands for additional cur­
rency we have the facilities furnished b y new banks, which, by securing
deposits from their customers and permitting them to transact their daily
business by checks, lessens the demand for coin or bank-notes. But if
we give to the enlarged demand its fullest influence, the 43 per cent ad­
vance cannot be reduced below 35 or 4 0 ; so that we are forced to the
conclusion that under the influence o f the new supplies o f gold from Cali­
fornia and Australia, an advance o f more than a third has already taken
place in the average prices o f all the products o f industry.

This is very large, but it is no more than the facts warrant, and the
fullest reliance may be placed on the result. This change, great as it is
already, is still going on. The receipts from California and Australia are
only begun, and when other years have accumulated their influence, the
effect will increase with time, and disturb still more those prices which
are the basis of our business and our commerce.
It might be supposed at first sight that the percentage o f increase in
the precious metals should be counted on the whole circulation of specie
and paper money. But a little reflection will correct any such action.
An increased supply o f coin permits the banks to expand their issues, and
as self-interest always impels them to extend their circulation as much as
possible, the paper money will be sure to enlarge p a r i p a ssu with the
specie. This expansion has taken place in the United States, as appears
by the bank returns published by the Secretary of the Treasury, which
show that the circulation o f the paper money advanced in the six years
between 1849 and 1855 from 115,000,000 to 187,000,000. The wars in
Europe, and the consequent demand for specie for remittances to the
East, and the want of confidence in paper money in the troublous times
of the last few years, may not have permitted as large an advance there
in bank-notes as in the specie; but the difference cannot be large— not
enough to effect the conclusion that has just been established.
The great reduction in value which has been insisted on in regard to
the circulating coin, may seem inconsistent with the slight depreciation
o f gold which was mentioned in a form er part o f this article; but the in­
consistency is only apparent. The 3 or 4 per cent depreciation which has
taken place in gold is entirely with reference to silver. A s long as both
metals circulate together at any large commercial points, as at Havre or
Paris, a change in the value o f one cannot take place without carrying
the other with it— nor can any greater change than 2, or 3, or 4 per cent
take place in one when measured b y the other. Just as if wheat should
rise in price in New Y ork, it would bring up with it rye, and corn, and
buckwheat, and other grains that could be used in its place.
If the ordi­
nary price o f wheat were $1, while the three other grains just mentioned
were ordinarily 60 cents, a rise o f 50 cents in wheat would cause an ad­
vance o f nearly 30 cents in the others.
The price o f rye, measured in
wheat, would be three-fifths— or nearly three-fifths— at all tim es; the com ­
parative worth o f one, measured in the other, would remain nearly inva­
riable. Six bushels o f wheat w ould buy ten o f corn, both when wheat
was scarce and when it was plenty. The rise is in wheat, but it extends




708

Uniform Currency.

to the other grains. So it would be, if instead o f a rise, a decline should
take place.
These principles are exactly the same for money. There is no depre­
ciation in silver o f itself. The present production is not equal to the con ­
sumption, and the arts, and the exportation to the East.
The abundant
supplies from California make gold depreciate 2 or 3 per cent at first, and
immediately this metal is transferred to where silver can be found. B y
taking the place o f the silver, and driving it out o f circulation, the silver
becomes abundant, compared with the demand for it, and depreciates.
The two currencies would be then nearly together again, until a farther
depreciation o f gold takes place by a new supply. A second substitution,
a second release o f silver, and a second decline succeed each other. I f the
decline in gold is only one per cent this substitution is made slow ly; a dif­
ference o f two or three per cent accelerates it very m u ch ; and four or five
per cent is the maximum depreciation that can possibly occur while both
metals are used together as a circulating medium. But this two or three,
or four or five per cent is not the measure of the total depreciation of the
gold, but only the temporary excess o f its depreciation over that o f silver.
The future progress o f this decline in the value of the precious metals, and
o f the rise in prices, will go on in precisely the same manner for the future
as it has in the past. It was felt first in the United States, because o f our
excessive mint valuation o f gold under the laws o f 1834 and 1837. W e
counted it worth sixteen times as much as silver, and its depreciation was
felt here soonest. W hen our silver was nearly all carried, Congress inter­
fered and lowered the mint value o f gold to fifteen times that o f silver.
The ratio in France is 15E and the abstraction o f silver is now going on
there. The amount in circulation being very large, and commerce in France
being comparatively sluggish, the displacement goes on slowly. But unless
a change is soon made in the mint regulations o f Paris, the silver will dis­
appear as it did here, and force the government to adjust the mint value o f
the two metals to the market rates. This may be done by raising the
amount o f gold in the Napoleon, or reducing the weight o f the silver piece
o f five francs. The latter was the plan adopted in the United States, but
either would produce the same effect. If the government should make this
alteration, then the demand for the East and for the arts, exceeding as it
does the annual supply o f silver from the mines, must be met by the coins
o f Germany or other countries where silver is in circulation. W h en the
mint pieces o f the two precious metals in these countries shall be altered so
as to prevent the exportation o f the silver, new calls will be made on the
United Slates, or on France, and another lightening o f the silver coins will
be required. The value o f gold being only ten or twelve times that of
silver in the market o f the East, the exports o f the precious metals thither
must long continue to be o f silver only. Nowhere in Asia is gold a legal
tender, silver being everywhere the only lawful currency. There was for
many years a tendency to introduce the gold mohur into circulation in
India through the influence o f the East India Company. It was authorized
to be received in the payment o f taxes, and was beginning to have general
circu'ation. It never had, however, the sanction o f the government, as a
legal coin. W h en the depreciation o f gold commenced in 1850 and 1851,
the people o f India began to pay their dues to government, and to other
persons, more and more largely in gold. They refused, however, to receive
it back from the government because it was not as valuable as silver, and




U niform Currency.

1 09

because the government was obliged, in good faith and by law, to pav in
silver. The Indian Government perceiving the inextricable difficulties into
which th°y were likely to fall, by having all their receipts in one metal while
compelled to make their payments in another, issued a notification in
December, 1852, that from the first o f January following no more gold
should be received into the treasury. Thus ended for the present all the
prospect of stopping the Eastern drain o f silver, and confined to Europe the
new treasures o f California and Australia. The great channels o f circula­
tion in all these countries o f Europe, where gold and silver both circulate by
law, must be filled with gold, and from time to time new changes must be
introduced to retain the silver. After one or two alterations have been
made in the mint valuations of silver in France, and in the United States, and
in other countries o f Europe, England must receive her call for silver, and
her shilling token must be given up. By her laws gold is only 14.4 more
valuable than silver, but the abundant production of gold, and the increased
need for silver, will bring the more precious metal down to this ratio, and
force England at last to the same changes that had been found necessary in
other countries. This course must be continued until the depreciation of
gold and the rise in prices shall prevent the working o f some o f the mines,
by so diminishing the amount o f commodities that can be obtained for the
labor employed in mining, that it can be more profitab'y employed in other
pursuits. W hen this withdrawal o f labor and capital from the mines shall so
reduce the supply that the production shall equal the consumption o f the
world, both for the arts and for the wear and Ios- o f coin, then the equi­
librium will be restored, the depreciation will cease, and prices will no longer
advance. The tendency towards this equilibrium will be in both directions.
The decline in gold will lessen the profits o f the miners and discourage pro­
duction. A t the same time it will increase the demand for ornaments and
watches and plate, and because o f the enlarged amount o f coin in circulation,
made necessary by the rise in prices, it will also increase the loss by wear
and by shipwreck. This enlargement o f the demand for annual supplies o f
gold, as well as the decrease o f supplies from the mines, will unite, therefore,
in restoring the equilibrium between the production and the consumption of
the precious metals.

Although this progress must go on, it will not continue as rapid hereafter
as it is at present. Every enlargement of the currency lessens the percent­
age which the annual supplies bear to the whole coin in circulation, so that
the rise in prices will be in a diminished ratio. The advance in the money
value of European merchandise will increase the demand for the products
of the East.
If cotton shall continue to be worth nine or ten cents a
pound, or shall advance to still higher rates, the imports of East India cotton
will increase. If dlks shall advance at Lyons, new activity will be given to
the commerce with Asia. If the price of coffee rises, the enlarged consump­
tion of tea will cause more extensive shipments from the Chinese Empire.
These new imports into Europe must be met by larger shipments of specie,
and thus the annual demand from the mines will be increased, and the equi­
librium of supply and demand hastened.
In the present and prospective disturbances of the currencies of the wo:Id,
the most favorable opportunity is presented to the governments o f Europe
and America to adopt a uniform coinage. In the United States we h ive
twice changed our coins during the last quarter of a century; why did we
not accommodate them to the coins of Englanl and France, with which




710

Uniform, Currency.

countries our commerce is so large? In 1834 our half-eagle contained
123.75 grains o f pure gold. It now has 116.1. W h y was it not changed
to 113.001, so as to correspond to the English sovereign? In 1850 our
dollar contained 38 lp grains o f pure silver. It now has 345.6. W h y was
it not made exactly equal to the five-franc piece o f France, which has 347.364
grains? These accommodations could easily have been made, and would
have afforded great facilities for trade and commerce. A s France will soon
be forced to change her mint values o f gold and silver, why not invite her
to a treaty arrangement by which uniformity in coinage will be secured
between the two countries ? As England is anxious to secure a decimal cur­
rency, why shall not the three countries work together and adopt a common
system, in which a dollar and an eagle, a franc and a Napoleon, a shilling
and a sovereign, shall be of the same fineness and exact multiplies o f a
common unit, so that they can be readily exchanged for each other ?

Such an arrangemet is called for by strong interests, and it can be effected
without any violation of good faith, or any interference with the contracts
between the citizens of their respective countries. The lasses and incon­
venience of the existing arrangements are very great. W e are large ex­
porters of gold, and our eagles and half-eagles are shipped by every steamer
to Liverpool, and then transported to London, the great center of the com­
merce of the world. As our coins are not current in Great Britain, the
Directors of the Bank of England send these coins at once to the mint, new
and beautiful as they are; and no seignorage being required by the govern­
ment, they are sent without hesitation or delay. Here they are remelted
and refined. A new and different amount of alloy is mixed with the pure
metal, and the gold is re-issued in the shape of sovereigns, having the stamp
of England on them instead of that of the United States. The coin is re­
turned to the bank only to be transferred to Paris, where it is again uncur­
rent. Fresh and new and pure as sterling coin can be, it is transmitted to
the French mint, melted and purified again, alloyed with a different per
centage of copper, and returned to the Bank of France. There is no rest
for it here. It must be sent to Germany or Spain, to Austria or Russia,
to be melted, alloyed, and stamped again with new names, devices, and
weights, and at every transfer there is a loss in value, at every recoinage
there is an appenditure of capital and labor, a waste of metal, of time,
and of interest. The government, the people, and the merchant, all lose,
and nothing is gained by any one. Not even the money-changers are
benefited by the operations, for they have to give their time and their skill
and their industry, for the charges they make for exchange.
These losses are small compared with the inconvenience to the merchants
and the injury to commerce. The price of exchange would be largely de­
creased by a uniform currency. As it is impossible in any part of the
United States that exchange on New York or Boston should rise or fall
more than a quarter or a half per cent, or at the farthest one per cent, so
exchanges between New York and Havre, or New York and Liverpool,
could only vary a fraction of one per cent, if the coins of the two countries
were current in both, or if their exact value was generally known. The
price of exchange would then be the mere cost of transporting the coin,
while now it varies two or three per cent, or more. The general ignorance
of the exact value of foieign coins tends to narrow the trade to a few
merchants engaged in that particular branch of commerce, and thus inter­
feres with the free competition which is the life of business, and the best




Uniform Currency.

711

security for justice among merchants, and for prosperity and activity in
commerce. When cotton is quoted at Havre as worth so many francs per
hundred kilogrammes, or as having risen or fallen so many centimmes per
half-kilogramme, few persons understand the quotations or the amount of
the advance or of the decline. Business is thus shackled and restrained,
because only a few know how to act on account of the difference of coins
and the mysteries of exchange. Free trade, free interchange of com­
modities, free intercourse between the business men of every country, is the
great discovery of modern politics, and everything that tends to promote it
is to be cherished and encouraged. Uniformity o f weights and measures
would be a great d esideratum also, and every aid should be given to bring­
ing about a consummation so devoutly wished for.” But as governments
move slowly, and as so radical a change in the ideas and names and mag­
nitudes, as is implied in a uniformity of weights and measures, can only be
effected with difficulty, there is no reason to delay the changes in the cur­
rency till all shall be rendered uniform The reasons for making the coins
uniform are much stronger than those which favor uniformity of weight and
of measure. The object can be effected with ease, with simplicity, without
disturbing names, and without violating contracts. Some changes are
absolutely necessary, and in making them it is just as easy to stop where
some neighboring nation has stopped, as to go beyond or to fall short of
their limit. Besides, the coin itself is exported while weights and measures
are not. Cloth and wine and iron are shipped from one country to another,
and are then bought and sold by different measures than before. But the
measures themselves are not transferred beyond the boundaries of the
State which employs them. When coins, however, are carried abroad, they
are not only merchandise, but standards of value, and to deprive them of
this last quality is to lessen their utility, injure the exporter, and disturb the
transactions of commerce.
The present time being so suitable for this reformation, when changes in
the currency are made indispensable in consequence of disturbances in the
values of the precious metals, by the opening of new sources of supply, it is
important that this change should be made on correct principles, in good
faith with the people of the several countries, and with as great advantage
as possible to the interests of commerce, of free trade, and of international
brotherhood.
In any reformation o f the coinage of different countries, it is o f the highest
and most indispensable importance that justice between man and man, and
between the governments and the people, should be preserved inviolate.
Very slight changes in the current coins may, however, be made without
violating this principle. In 1834, 1837, and 1853, the United States altered
the value o f their coins, but a severe scrutiny o f the several acts o f Congress
will not establish any unfair or unjust principle in our legislation on this
subject. I f any wrong was done, it was too slight to be worthy o f notice.
The debasement of the coinage has been the disgrace o f kings and emperors
in dark and barbarous ages and countries, and the iniquities o f a depreciated
and irredeemable paper money have been sanctioned in modern times by
nearly every country in the civilized world. These wrong doings have not
been confined to Europe or America, to the present century or to the pre­
ceding one. But whether approved by sovereigns or by the people, they
are none the less dishonorable and wicked. Let the public faith be kept
pure, untarnished, inviolate. N o repudiation, no payments o f obligations in




712

Uniform Currency.

name and not in reality, can be tolerated or approved by the three great
nations who are at the head of the commerce and the civilization of the
present age.
In any change that may be made it is most desirable to retain as much
as possible of the present state of things. This is important in all reforma­
tions ; but in matters of bus’ness it is especially important. Nothing enters
so completely into our daily life and thoughts as money. Not that all
persons are absorbed in the pursuit o f gain, or in the accumulation of
wealth; but the price of everv article of food and clothing, of everything
we consume or produce, is of necessity often presented to our minds. Our
habits of thought and action in regard to cost and prices are thus deeply
fixed in our nature, and to uproot them will he difficult, if not impossible.
It is greatly to be desired that the French gra m m e should be employed
as the unit by which all the coins shall be weighed. This weight was
adopted by France at. the suggestion of her men of science, under the in­
fluence of the strongest feelings of fraternity among all nations. It was
not obtained by weighing a grain of wheat from the valleys of the Seine, or
by measuring the foot or the arm of a French Emperor, but from the great
earth herself, which being the common property of all nations and people,
furnishes an appropriate metre for a universal standard. The gramme is
not dependent on an arbitrary weight deposited at the State Archives, which
may be lost or destroyed. The circumference of the earth supplies the
metre, and the weight of a certain measure of water determines the gramme.
The English and American pound, or ounce, or grain have no such claims to
preservation. Perfectly arbitrary, dependent on a standard pound kept in
the tower at London, they present no claims to recognition out of the country
where they have been adopted. A Frenchman or an Italian, a Mexican or
a Brizilian, sees nothing in tlnm that he can appreciate, while for the metre
and the gramme every civilized people of the globe admires the science and
skill with which they have been determined, and approves of them as good
and proper means for the use of all mankind.
Tt is also desirable to preserve, as far as possible, the decimal system. This
has been adopted in France and the United States, and its advantages are so
great that it would be impossible to induce us to return to the old s\ stem o f
pounds, shillings, and pence, o f livres, derniers, and sols. The English have
not yet adopted this system, but an earnest desire among the merchants, the
politicians, and the scientific men, has been expressed in its favor. A com­
mission of distinguished statesmen and men of science has been appointed by
Parliament on this subject, and the witnesses examined, as well as the com­
mission, have been unanimous in recommending it. Many difficulties are
presented to its general introduction, especially as to weights and measures,
but a slight effort will overcome them all as far as relates to the coinage.
A fifth point, not less important and indispensable, is the preservation of
the common names, applying them as near as possible to the same absolute
values. If a shilling, or a pound, or a dollar, or a franc were abrogated
entirely, no force of law in a free country like ours could drive them out of
use. In spite of pains and penalties, the people would still employ them
in their daily business transactions ; in their private calculations and esti­
mates; in their books and accounts, and sales, and purchases. And if the
law should affix these names to new coins of different values, the confusion
between the old and new systems would lead to misunderstandings and dis­
putes, and hardships and injustice, so that trouble and wrong instead o f




713

Uniform. Currency.

peace and equity would follow the efforts to introduce harmony and un;formity among all nations.
6. In making any new system it should conform to the recent change in
the comparative value of gold and silver, and advance a little below the
existing ratio, so as to anticipate any slight deterioration of gold which may
take place hereafter.
The increased supply o f gold from California and Australia has produced
as yet but little effect on the comparative value o f gold and silver. The
market value o f gold before 1850 was 151 or 16, hut it has now receded to
1 4 J o r l5 . The quotations for the last report o f the London market were for—
Foreign gold in bars (standard)...................................... per ounce
Silver in bars (standard)..................................................................

£3 17
0 5

9
8£

The standards for the two metals are different.
The gold was one-twelfth alloy, the silver seven-and-a-half per cent. The
ratio between the two then becomes 14.89. It would not, therefore, be well
to rate the gold higher than 14| times the valu - of silver.
7. It is desirable that the fineness o f all the coins should be the
same, and that this fineness should not be expressed in the antiquated
nomenclature o f the English, as so many carats, quarters, and fractions o f a
quarter, but in p -r centage, as has been done in France since 1816, and as has
been done in the United States since 1837. This fineness is 90 per cent
in both countries, and there is no good reason why this should not be adopt­
ed by all.

8. All changes in the coinage o f the two metals should be made
in that metal which, even though legal, is not current. In England, gold
only is a legal tender, and the principal metal employed as a currency.
From 1717 to 1816 gold was overvalued at the British mint, and silver
was therefore excluded from circulation. In 1816 a change was made in
the silver coin, and gold was undervalued, but silver, not being made a legal
tender for more than 40 shillings, was kept out of circulation ; the change
in England ought then to be in silver.
In France, before the re-coinage o f 1785, as well as since that period, gold
was undervalued at the mint, and was therefore excluded from circulation.
The present change should therefore be in gold, but it must be made soon
if made at all, for the depreciation now going on in gold has bro lglit it be­
low the mint value in France, and it is flowing thither rapidly, and driving
the silver out o f circulation.
In the United States, since 1853, gold is the only lawful standard o f
value, silver not being a legal tender for more than five dollars. This im­
portant change in our currency was made in the recent bill tor lightening
our silver coin. Any change that shall be made, ought therefore to be in
our s lver, which though current has no legal value except for the purposes
o f small change.

By following out this condition the governments will act in good faith
with their citizens. When gold does not circulate any alterations in it will
be neither inconvenient nor unjust, and so of silver. If only one metal is
current or legal, the understanding and intention in every agrceement and
in every obligation is to pay a certain number of dollars or francs or pounds
in the legal or current coin, and any changes that may be made in the other
uncurrent or illegal metal will not interfere with the contracts or engage­
ments of the citizens.
9. It is important to preserve the franc as the unit for silver, and the




714

U niform Currency.

pound as the unit for gold. These have many claims for preservation which
the dollar and the eagle have n o t; the franc is intimately connected with
the metrical system introduced by the scientific men of France, and founded
on the measure o f the earth’s circurference,it is legalized in Belgium, and
extensively used in Italy and other countries o f Europe. The present pound
has been preserved unchanged for more than a hundred years. It was intro­
duced with the house o f Hanover, and since 1717 has been the only unit o f
account; it survived unaltered the suspension o f specie payments during
the French revolution, and the violent changes in the currency o f Great
Britain, made by Sir Robert Peel in 1819. Since that time the sovereign
has been the only legal and the only current unit o f the United Kingdom .
The silver dollar and the gold eagle o f the United States have neither been
made sacred by time nor by uniformity. The dollar has recently been dimin­
ished seven per cent, and the eagle has been three times changed in less
than a quarter o f a century. Our country is new and our people flexible
and ready for reformation and im provem ent; used to change, we cannot
claim that our coinage should be adopted as the model for old, stable, and
conservative countries, where innovation is a crime, and reform the signal of
danger and alarm.
It might seem difficult at first sight to retain all these important requisites,
and secure uniformity without disturbing the existing system to an incon­
venient and alarming extent, to preserve the gramme, the pound, the franc,
and the decimal system, the present names and values, and the recent ratio
between gold and silver, without violating good faith, or interfering with the
obligations between man and man. But though difficult it is not impossible.

If the franc is retained as the silver unit, it will be easy to accommodate
our dollar to this, by making it exactly equal to five francs. This would in­
crease its present amount of pure silver only about one-half o f one per cent,
and as we have, but three years since, reduced it seven per cent, so small a
change is unexceptionable.
If 1 4 f be taken as the proper ratio between gold and silver, the weight
o f twenty-five francs in gold will be readily determined. The pure silver
would weigh 1121 grammes, and the gold 7 .6 2 7 1 2 ; this would equal
117.7505 grains, and agrees almost exactly with 1,000 English farthings.
A n ounce o f standard gold, or 440 grains o f pure gold, is coined at the
English mint into £ 3 17s 1 0 p l. So that a pound contains 113.0016
grains, and 1,000 farthings, 117.7100. This differs from the 25 francs
only three-hundredths o f one per cent. If the 25 francs of gold were
made to weigh exactly 7 f grammes, the agreement would be still more com ­
plete, although the ratio between the two metals would then be a trifle less
than 14|. The number o f grains in 7J grammes is 117.7178, which dif­
fers from 1,000 farthings o f the present English standard pound less than
the two-thousandth part. By counting 25 francs a guinea, or a thousand
farthing's, and by making the franc and the guinea o f these two weights,
viz.: 5 grammes o f silver and 7£ grammes o f gold, the currencies o f France
and England could be brought into harmony with each other, and with
the market rates o f gold and silver. By increasing our half-eagle from
116.1 grains o f pure gold to 117.7178, the coins o f the three nations would
become identical. These are all the changes that are necessary to bring the
three currencies into harmony.
1. As to the gold coins; to make the American half-eagle and the French
piece o f 25 francs identical with a new English coin containing one thousand




U niform Currency.

715

sterling farthings, to be called a guinea. Its weight to be 7 f grammes o f pure
gold, or
o f standard gold o f 90 per cent fineness.
As to the silver coins ; to made the American dollar and the English
four-shilling piece, which they purpose to denominate a double-florin, (but
which ough tto be called a dollar,) identical with the five-franc piece ; v iz.!
221 grammes o f pure silver, or 25 grammes o f standard silver o f 90 per cent
fineness.
These changes cannot be objected to in the United States, because they
are too slight to be noticed in the ordinary transactions o f commerce, and
because they tend to repair the slight injustice o f our legislation o f 1 853, by
increasing the dollar, which was then made 7 per cent lighter than it had
been, and by increasing the eagle about one per cent, which by its real de­
preciation had made the change o f 1853 necessary.
It ought not to be objected to in England, bee ruse their principal currency
is in gold, and that is retained unaltered. The new proposed coins— a
florin and a guinea— would be exactly equal to 100 and 1,000 farthing!, and
would thus permit them to introduce the decimal system without changing
their unit or altering their common names. The present money o f account
could easily be reduced to the new coins, and existing contracts settled with
simplicity and justice. Thus £ 3 5s. fid. reduced to farthings, would give
3,144 farthings, or 3.144 guineas, or 3 guineas 1 florin and 44 farthings.
The shilling might be made to contain 121 pence o f fifty farthings, and be
exactly half the florin. The guinea is not o f exactly the same weight as
the coin formerly used o f that name, but as the name is familiar, and the
new coin nearly o f the same value as the present guinea, the name might
be retained.
The greatest difficulty would probably come from France. Her five-franc
silver piece is indeed retained unaltered. The gramme is made the unit by
which all the coins are to be weighed. The decimal system, for which she
has made so many exertions and sacrifices, is extended to England. The
standard o f fineness, long since adopted bv her, and .then by the United
States, is made universal. By all these alterations the pride and self-love
o f the French would be gratified, but as she would be required to call in her
present gold coins, and substitute in their stead new ones o f greater weight,
opposition and objection might be expected. The present Napoleon o f 20
francs is 151 times lighter that 20 silver francs. The proposed coin o f 25
francs (which ought to be called an eagle) is only 14£ times lighter. The
present gold franc weighs 322.58 milligrammes, and the proposed one is to
weigh 338$-. The old coins will have to be re-melted, and re-issued about
one twentieth heavier than before. This is made necessary by the deprecia­
tion o f gold, and is therefore just to the people and just to the government
creditors. But though all these reasons favor this change, it is to be feared
that the desire to depreciate rather than to improve the weight o f the coin,
which is so natural to Sovereigns who have debts to pay, will out-weigh all
these considerations, and induce them to reject every such proposition. W e
have changed our coins three times in the United States, but have always
debased them. The English have changed their silver coins 19 times in the
last eight hundred years, and only twice have they made them contain more
metal than before, the increase being then only one or two per cent. So has
their gold coin been depreciated 22 out o f the 24 times it has been altered.
The same is true in the history of other countries, and it is to be feared that
such will be the future history o f governments. If the French Emperor




716

Journal o f M ercantile Law .

should rise superior to these unholy motives, and consent to give to his people
a larger amount o f gold than was promised when gold was more valuable
than it now is, all difficulties m ight be removed.
Here is a table containing the changes proposed with the percentage
o f difference between the old and new coins.
Weight of
Weight of Change of
value.
present coins new coins
in grains. in grammes. Per cent.

Pure metal.

Silver five franc....................................
Silver dollar..........................................
Silver florin (100 farthings)...............
Gold guinea (1,000 farthings)...........
Gold ea gle............................................
Gold eagle of 25 francs.......................

m
3 4 5 .6 0
336 36

117.71

221
22i

n
n
H

0
0 i+
3 i+
0

1#+
5 +

The extension o f this system to the other countries o f Europe would not
be difficult. The Russian imperial would correspond to our eagle, the
sequin o f Tuscany, the ducat o f Austria, Denmark, Sweden, Bavaria, Han­
over, Saxony, Wurtemburg, and Holland would be very nearly the same
as eleven francs. And so the other coins o f Europe could be declared equal
to a certain number o f dollars or francs or shillings, and new coins issued
containing such a multiple o f the unit adopted by the three great commer­
cial nations o f the world as might be approved by the rulers or by the people
o f each particular country.
Never in the history o f commerce was so favorable an opportunity pre­
sented for securing a uniform coinage, exchangable everywhere without
objection or delay or expense, by name and by weight according to law and
to custom. Commerce has been extended wider and farther than ever be­
fore in the history o f the world, the coins o f different countries approximate
already to simple multiples o f a common unit, the discoveries o f California
and Australia are disturbing the relative values o f the precious metals, the
true principles on which the coinage o f money depends are everywhere
understood, the desire for free trade and universal brotherhood among
nations is to be found among the rulers and the people o f every portion o f
the civilized world, and everything favors the prompt and speedy establish­
ment o f a single uniform currency for every nation in Europe and America.

JOURNAL OF M ERCANTILE LAW.
CHARTER PARTY— AUSTRALIAN SHIPPERS.

In United States Circuit Court, October 3, 1855. Before Justice N elson .
John 0. Erlen vs. the ship Brewer. His Honor delivered the opinion o f the Court
as follows :—
The libel in this case sets out a charter party between the libelant and the
owner, bearing date the lGth June, 1853, by which the ship Brewer was chartered
for a voyage from the port of New York to Melbourne, Australia, upon certain
terms and conditions therein specified. That the libelant took possession of the
vessel with the knowledge and assent of the owner, and has never since relinquished
the same, that by the terms of the contract, he, the libelant, was bound to man,
victual, and navigate the said ship at his own expense, and by his own procure­
ments, whereby he became owner of the vessel during the time covered by the
charter party, and had expended large sums, and much time, and had incurred
heavy responsibilities in and about the procurement of passsngers, and outfits for
the ship, her crew and passengers, and had entered into contracts of affreightment




Journal of M ercantile Law .

717

for the outward and homeward voyage. That the libelant is disturbed, hindered,
and molested in his possession of said ship, and in putting her cargo on board,
and in the enjoyment of his rights, secured to him uuder the charter party, by a
person placed on board by the owner, as master, and who, as such, is bound to
obey the instructions of the libelant, according to the terms of the contract; but
refuses to obey the same, and is upheld and encouraged in the disturbance and
molestation of the possession by the owner. The libel then prays a decree for
the possession, or damages for withholding it. The answer admits the charter
parties as set o u t: and the complaint alleges that the delivery was conditional,
and to become absolute only in case the owner (the respondent in the suit) should,
after inquiry for that purpose, be satisfied as to the sufficiency of one Samuel D.
Jones, who undertook, by an indorsement on the charter party, to guaranty per­
formance on the part of the libelant, the charterer ; and that it was understood
and agreed at the time of the execution and delivery, that the guaranty was not
to be considered sufficient till the respondent should declare his satisfaction with the
responsibility of Jones, and that being unable to obtain any reliable information
as to his responsibility or sufficiency, notice was given to the libelant the next day
(the 17th June,) of the insufficiency of the guaranty; and that he then and there
agreed to procure other person or persons to secure the performance on his part
to the satisfaction of the respondent, but wholly neglected and failed so to do.
The answer, also, denies that the possession of the ship was delivered to the libel­
ant, or to any person on his behalf; but alleges that the charter became null and
void on account of the non-fulfillment of the covenants on the part of the libelant.
Among the covenants in the charter party, the charterer agreed to pay the owner
of the ship for the charter during the voyage, $1,200 per month, and to pay all
the wages of the master, officers, and crew ; also, all foreign port charges, includ­
ing consul’s fees, wharfages, and pilotage, and to furnish sufficient provisions and
water for the use of passengers and crew, and all incidental expenses (except
repairs) during the voyage, one thousand dollars to be paid on the 20th of June,
two thousand at the expiration of sixty days, four thousand on the arrival of the
ship at Melbourne, or in New York within thirty days after advices of her arrival,
and the balance on the arrival and discharge of cargo in the United States. There
is also this further covenant:—“ And it is also understood and agreed that this
charter party shall be guarantied to the entire satisfaction of the party o f the first
part.” The charter party was signed and delivered on the day it bears date, June
26,1853, and underwritten the signatures, is the following :—
I hereby guaranty the fulfillment of the within contract.
1853.

New York, June 16,
S A M U E L D . JO N ES.

Witness, B. E.

A r r o w s m it h .

And also the following indorsement:—
This charter party commences on the sixteenth instant.
1853.

New York, June 16,
J . N. M. B R E W E R .

This statement of the pleadings and parts of the charter party will be sufficient
to present the material questions involved in the case. The first case, and which
concerns the merits of it, whether or not the owner agreed, either expressly or by
necessary implication, from his silence at the execution and delivery of the charter
party, to accept Jones as guarantor within the covenant ? This is a question of
fact, and must be decided upon the weight of the evidence. Edwin R. Jones, the
broker who negotiated the charter for the libelant, with B. E. Arrowsmith, a
broker, on behalf of Brewer, the owner, states that he was present when the
guaranty was signed by Jones; that Brewer was present, and that the witness
proposed at the time that the parties should go to the Atlantic dock, where the
ship lay, and put her in possession of the libelant; that Brewer said that he would
not go at that time, but assigned no other reason ; that the witness then proposed
that he should put on the charter party some stipulations that would answer the
same purpose, which he agreed to, and wrote the indorsement signed by him,




718

Journal o f M ercantile Law .

which we have already referred to. He further states that when the writings
were completed, he inquired of all the parties if they were satisfactory, and all
agreed that they were, and that no dissatisfaction was expressed by Brewer. Sylvanus Pickering, a commission merchant, was present, and concurs, substantially,
with Ives; also, McLorid, clerk of the libelant, and B. H. Lockwood, who was
present. The latter 'was to be supercargo of the ship in her voyage to Australia.
A t the time of the execution and delivery, a draft by the libelant, accepted by
Jones, the guarantor, for $2,000, payable in sixty days, was given to Brewer, to
cover the second payment, and a receipt given for the same.
B. E. Arrowsmith, the broker on the side of the owners in the negotiations,
states that when they went to the office of the libelant, where the charter party
was executed, he met the latter at the entrance of the inner office ; that he and
Brewer conversed together on the subject, and that Brewer stated that he did not
know about Jones The libelant said it should be made satisfactory. It was all
right in regard to Jones. The conversation had been that other security should
be given, if required. He admits that when the draft was handed to Brewer, and
he had signed the receipt, the libelant asked if it was all satisfactory, and the for­
mer answered in the affirmative ; but the witness states that Brewer sent him the
same day to the libelant to say to him that the matter was not satisfactory ; he
said that he should endeavor to get other names as security, and advise him as
soon as possible. Other names were offered, but on inquiry were rejected. The
witness also states that he made inquires about Jones, and could not get anything
satisfactory concerning him. Brewer authorized this witness, as late as the 21st
and 22nd of June, to accept sufficient security, and carry into effect the charter
party, but refused to give up possession of the ship till the security was given.
This is the substance o f the testimony bearing upon the main question involved,
except it has been shown by evidence in this court that the libelant was insolvent
at the time he entered into the charter ; and I can find nothing in the proofs, either
in the court below or in this, to show that Jones was a man of any responsibility.
It is quite clear, therefore, that whatever may have been the form and solemni­
ties with which this contract was entered into, and even, if in a way to blind, in
judgement of law, the parties, so far as Brewer, the owner, is concerned, there has
been, in reality and substance, no fulfillment of the most material covenant in his
favor, on the part of the charterer. The guarantor, for ought that appears, was
a man of straw, and the charterer himself insolvent. This inference against Jones
is not a harsh one ; for after the evidence that inquiries had been made, and nothing
satisfactory could be obtained concerning him, the burden lay upon the libelant
to show that he was a man of responsibility. I admit he may rest his case, as he
has, upon the agreement of Brewer to accept him as satisfactory, whether possessed
of any responsibility or n o t; but if there is any doubt about this agreement upon
the testimony, the fact of his want of responsibility is an element that cannot be
overlooked. The equity and justice of the case must have its weight in deciding
the question. The importance of this evidence was, no doubt, fully appreciated
by the learned counsel for the libelant, and the omission to produce it leaves the
unavoidable inference that it was in his power.
The case, then, on the part of the libelant, must be upheld, if upheld at all, upon
the naked fact that Brewer agreed to accept Jones as security, whether of any
responsibility or not,— either supposing at the time, that ho was, or so indifferent
to his interest that he would not take the trouble to make the inquiry.
The witnesses examined for the libelant go far to establish this view of the case.
But they do not directly, nor even by necessary inference. N o one of them ven­
tures to say that Brewer expressed himself satisfied with Jones as guarantor or
surety, or anything to that effect. They speak in very general terms on the sub­
ject,— that it was all satisfactory,— appeared to be perfectly satisfied,— expressed
no dissatisfaction,— and the like.
But I agree, taking into consideration the execution of the charter party, the
indorsement of Jones as surety, and of Brewer, as the time when the articles were
to commence, in connection with the evidence of satisfaction expressed by him at
the time, would be sufficient to foreclose the case, if there was nothing else in it.




Journal o f M ercantile L aw .

719

The conclusion would be irresistible that he had agreed to accept Jones as satis­
factory.
Arrowsmith, however, who knew as much about this transaction as any one,
being the broker of Brewer, states that in an interview between the parties, just
previous to the meeting to execute the articles, Brewer expressed his doubts as
to the responsibility of Jones ; and that thereupon the libelant promised that it
should be made satisfactory, and added that it was all right in regard to J ones.
Now, it was after this assurance and representation by the libelant, that the arti­
cles were executed and delivered, and the expressions of satisfaction made. What
strengthens the evidence of this witness, and shows that he could not well be mis­
taken, he states that, afterward, on the same day, Brewer sent him to the libelant
to say that Jones was not satisfactory, and that he thereupon promised to get
other names, and others were subsequently furnished, but rejected as insufficient.
This evidence explains the expression of satisfaction of Brewer at the time of
the execution of the charter party, as the question of the sufficiency of the surety
was left open between the parties, and the instrument not to be binding, which is
the fair inference, till that matter was determined. This explains, also, the taking
of the draft accepted by this same man Jones, and receipt given, as the whole was
to be dependent upon the event of the satisfactory security.
It has been said that there is a great preponderance of witnesses in favor of the
libelant on the question of the acceptance of Jones. But this is a mistake. There
is no discrepancy between these witnesses and Arrowsmith. The interview
between the parties when he was present, was at a different period of the transac­
tion, and of which they had no knowledge. There is no contradiction of this
witness.
Take the case, therefore, in any aspect in which it can be properly presented,
and the libelant must fail. There was either a false representation of the pecu­
niary ability of Jones to induce Brewer to accept him, or there was an under­
standing between them that other names should be procured, and that the articles
should be considered open till this matter was determined.
This case is somewhat interesting. A party utterly insolvent, with a friend as
surety for him, equally irresponsible, undertakes to charter a ship for passengers
and freight to Australia for large hire, agreeing with the owner in the charter
party that its fulfillment shall be guarantied to his entire satisfaction.
The articles are entered into, and formally guarantied by his friend in the pres­
ence of his clerk, broker, and person appointed supercargo of the ship, all of whom
with another witness, are called to prove that it was agreed this friend should be
considered satisfactory. N o proof is offered of his pecuniary ability, but from the
course of the trial, on the contrary, it was conceded that he was a man o f straw;
and the case put upon the naked fact of the acceptance of this sort of security.
In addition to this, a payment of two thousand dollars of the hire of the vessel
is sought to be made by a draft at sixty days, drawn by the charterer, and accept­
ed by the same friend.
The thousand dollars that were to be paid in a few days, was more embarrass­
ing ; when called on for that sum it was not paid, for the reason as assigned, that
he had not finished his contracts for freight, and, therefore, had not the money.
This is not an isolated case. Other vessels have been chartered for these gold
regions that have come under our notice, evincing similar ingenuity and financial
skill; but, unfortunately, the enterprise was not checked as early as the present one.
Plausible and specious as has been the attempt here to get the possession and
control of this ship under the pretext of security, to enable the libelant to raise
money upon her freight and passengers, it is impossible not to see, if it had been
successful, the transaction must in all human probability have resulted in a fraud,
either upon the shipowner or passengers, or both. The whole capital out of
which to pay the hire and bear the expenses of the ship during the voyage was
dependent upon the fare and freight. I f the libelant could have got possession of
the ship, ho probably might have procured passengers, and received passage and
freight money, but whether the owner would have received the hire for his ship,
or the passengers reached the gold regions of Australia, is not so certain. The




720

Journal o f M ercantile Law .

ship itself was all the security of either for the undertaking, or any undertaking
entered into by the libelant in connection with the enterprise.
I am also o f opinion that the libelant had not at any time, or for any time,
acquired the actual possession of this vessel under the charter party ; and if the
question had become material, I should have deemed further inquiry necessary to
satisfy me that the Court of Admiralty had jurisdiction of the case. But I do
not go into this question, and prefer placing the decision upon the grounds above
stated.
A s the decree below was for the libelant, I must reverse it, and direct a decree
for the respondent, with costs.
QUESTION OF PARTNERSHIP.

Supreme Court of California. Before Judge Shattuck. Guy vs. David, Jr.
(July 16th, 1856.)
This was a motion to set aside sale judgment by default, and for leave to
answer.
The plaintiff sued the defendant, as a general partner, for some $6,000 indebted­
ness, and verified his complaint, The defendant failed to answer, a default was
taken, judgment entered, and the property—-a candle manufactory and fixtures—
sold under execution. Jean B. Dennis now comes forward, and, by affidavit,
alleges that he was a silent partner in the manufactory and business; that the
judgment was obtained by collusion between the plaintiff and defendant to defraud
him ; that the firm did not owe the amount for which judgment was entered ; that
the property was sold without due advertisement, and for half its value; that he
has a meritorious defense to the action, and prays for the sale and judgment to be
set aside, and that he be made a party and have leave to defend. The plaintiff,
upon a rule, shows cause.
He admits that Dennis is a silent partner, denies the merits, re asserts under­
neath the amount of the judgment to be justly due, which is likewise verified by
the oath of his cashier, and asserts that the sale of the property was fairly mad i.
Judge Shattuck, in giving his decision says :—
The suit was properly brought against the general partner only, (Revised Code
124, sec. 11.) and therefore Dinnis has nothing to complain of unless injustice has
been done him by the alleged collusion. He swears that the firm did not owe
the plaintiff so much, but this is more than counterbalanced by the oath of the
plaintiff and his cashier, and is not a solitary instance of one’s indebtedness being
greater than he had supposed. The sale was made by the Sheriff and the pre­
sumption of law is that it was legally advertised and sold; and this, too, is sus­
tained by the affidavit of the plaintiff I cannot, therefore, see any cause for
setting aside the proceedings, admitting that Dennis has only now learned of the
suit. I find, however, by the papers filed, that by his contract he was himself a
laborer in the manufactory, that the whole establishment was attached at the
commencement of the suit, and held by the Sheriff until the judgment and sale ;
and how he, being there, could be ignorant of it, is inexplicable to me. I see
nothing to complain of unless it be in the cost bill, which seems large; but il
this is erroneous it does Dennis no injury, as there is no personal judgment against
him, and his capital in the concern would be swallowed up without this.
The motion is denied.
CONTRACTS---- RESCISSION— TENDER MUST BE CONTINUOUS.

If the vendor refuses to accept the property when the purchaser offers to return
it, this will dispense with a more formal tender ; but the purchaser, if he still re­
tains the property in his possession, must yield it up on the reasonable demand of
the vendor, and his refusal to surrender on such demand, even after suit brought,
will destroy the effect of his previous tender. Bennett vs. Pail & Patterson.—
Supreme Court, Alabama.




721

Commercial Chronicle and Review .

COMMERCIAL CHRONICLE AND REVIEW .
TH E M O N EY M A R K E T A N D
U N IT E D 6T A TE S— T H E

I T S C H A N G E S — F I N A N C I A L T R O U B L E S I N E U R O P E — C O N S E R V A T IS M O F T H E

NEW

CH ANN EL OF TR A D E , V IA

TnE

IS T H M U S O F P A N A M A , A N D

IT S

EFFECT

U P O N T n E C O M M E R C E O F T H E W O R L D — R E C E I P T S O F G O L D F R O M C A L I F O R N I A , A N D B U S IN E S S A T T H B
M IN T

AND

A S S A Y O F F IC E — T H E

BANK

M O V E M E N T — IM P O R T S A N D

EXPORTS

O C T O B E R , A N D F R O M J A N U A R Y 1S T — R E C E IP T S F O R C A S H D U T IE S — M O V E M E N T I N

AT

NEW

YORK

FOB

P R O D U C E , E T C ., ETC.

T h e stringency in the money market, noticed in our last, became more severe
after that report was sent to the press, and continued without much mitigation
throughout the largest portion of the month under review. The principal pressure
was in the commencement at the North and W est; and although it was at first
most intense at the seaboard, it soon extended throughout the interior, setting the
current of specie toward the principal money centers, where the drain o f the
precious metals for export had been greatest. Under this pressure, a large
number of small dealers and second-class financial operators were compelled to
suspend ; and aceasionally one of more note was added to the list of bankrupts.
In general, however, the demand for money was met by capitalists wherever the
borrower had prime securities to offer, and none who could make a solvent exhibit
were compelled to succumb. Toward the close of the month the pressure at the
South increased, the banks not daring to grant full accommodations, on the pre­
sent aspect of commercial affairs.
The news from Europe has continued unfavorable in a financial point of view,
the money pressure having been severely felt both in England and France. Rates
of interest have accordingly advanced on both sides of the water, and there has
been almost a scramble after specie. Opinions are divided as to the future course
of monetary affairs in Europe, but those who have the highest reputation for
sagacity predict a fierce struggle, and a general break-down of credit in France.
The Credit Mobilier has thus far increased the speculative mania, which seems to
have extended over the entire continent, and to have seized upon all classes of
people who have anything to venture in the game. That gigantic organization
has thus far stood firmly against every assault; some look for its immediate
overthrow, while others, who are acquainted with the master minds that control
its movements, arc more confident of its stability. A portion of the London
capitalists denounce its operations as verging on the extreme of recklessness, and
it is difficult to judge how far these assaults are the result of jealousy of its unpar­
alleled success. It has certainly taken a wonderful stride in developing the
internal resources of the continent, and there can be no doubt but what its in­
fluence will be widely felt for good throughout the remainder of this century,
even though it should now go down, carrying with it a multitude of those who
hoped to grow rich under its shadow. The Emperor of Franco has a will of his
own in financial as well as political matters; and hitherto his financial and com­
mercial policy has been approved by the judicious of all countries.
The financial troubles in Europe have had a tendency to limit the speculations
in raw silk, and to reduce the price ; and our importers have thus been enabled to
place their orders at prices considerably below the rates demanded a few weeks
ago. This will encourage the importation for next spring, which it was feared
would fall below the demand for consumption.
It is not a little singular that the United States which have been classed by all
financial writers among the most adventurous speculators of the age, should now
occupy a more conservative position than any other country having a foreign com­
merce upon the face of the globe. If this position can be maintained for a few
years, it will carry the United States to a pitch of commercial greatness, the
present statement of which would seem almost fabulous.
N o other enterprise undertaken by the American people has done so much to
V O L . X X X V .----- N O . V I .




4(5

722

Commercial Chronicle and R eview .

change the established currents of the world’s commerce as is now promised in
the completion of the railroad across the Isthmus of Panama, formerly called
Darien. The near approach of the Atlantic and Pacific at this Isthmus, led the
early explorers of Central America to conceive the project of a ship canal which
should practically unite the two oceans, and thus save the weary and dangerous
voyage around Cape Horn. Each one of the principal European nations has,
at one time or other, attempted this work, and at least three of them have believed
themselves upon the point of carrying it to a successful issue. H ot a few pre­
liminary surveys of the Isthmus have been full of promise, but in every instance
a further acquaintance with the difficulties of the route has led to the abandon­
ment of the attempt. The Atrato route, lower down, is still cherished, and may
one day result in good. The Panama Railroad is strictly an American enterprise.
After all hopes of a canal at this point were given up, the project of a railroad
was originated, and amid difficulties, and in the face of obstacles which would
have daunted ordinary courage, has been carried to a successful issue. And,
marvellous a§ it may seem in railroad annals, this has been accomplished without
the sacrifice of either principle or dignity, every pecuniary obligation of the
company having been promptly met from the beginning, and that without the
resort to any illigitimate methods of obtaining money, although the cost was far
beyond the original estimates. The expenditure to complete the road is nearly
eight millions of dollars, and the total investment will probably exceed this sum
by two or three hundred thousand dollars, when the outfit is perfected. The road
is now in good running order, and is regarded in all parts of the United States as
a national work, although it has been carried to completion by private capital.
The vast changes which are to follow the opening of this route have now com­
menced. Their very magnitude has interfered with the rapidity of the result.
It was a new channel for commerce, and not a mere improvement of an old
thoroughfare. It broke through the barrier of unsubdued wilderness, and for the
first time, since the continent was discovered, opened a broad pathway from the
Atlantic to the Pacific. The old channel of trade swept for 10,000 miles around
Cape Horn, and could not be diverted in a day. Thousands of eager passengers
poured over the Isthmus, in their transit to and from California, as soon as an avenue
was opened, but commerce could not buy a ticket and set out at once upon its travels.
It needed ships of established lines, including regularity and certainty of convey­
ance ; it hesitated for precedents of safe voyages and speedy deliveries; it waited to
disencumber itself of the trappings and dead weight of the old thoroughfares.
Merchants were ready to ship their goods by the new route, but where were the
vessels to take them ? Shipowners were anxious to send their vessels, but the freight
was not already stored upon the wharf, and they could not at once count upon a
cargo without collecting it. The whole trade could not be combined like a clock,
and set in motion on a given day, and thus its progress has been slow from the outset j
but the change is none the less sure, nor its results less momentous. The company
which built the road, might have been excused if it had given up in exhaustion
o f its means, when the link was completed, and called upon other adventurers to
perfect the connections. Through steamship lines, already established in com­
munication with New York and San Francisco, it had a growing trade, yielding
a profit of from ten to fifteen per cent upon its capital stock. But it has not
been satisfied with this ; with far-reaching sagacity it has been the pioneer in the
enterprise of demonstrating the advantages of this route to the world. It has
loaded its coffee at Costa Rica, brought it across the road, and taken it to New
York, where it has been sold, retailed, roasted, and drank, before the tattered
vessel that carried a rival cargo around the stormy Cape in the old track appeared
off Sandy Hook. It has returned Yankee calicoes to the western coast, where
they have faded into dinginess before the cargo that preceded them had doubled
the Horn and gained its destination. It has been almost ubiquitous in combating
the fears of the timid ; encouraging the spirit of the pioneer adventurers, whose
fugitive ships came like white-winged heralds into the strange harbors ; and
making known to the Atlantic nations, that the Pacific, whose waves once rolled
on the other side of the world, was now harnessed by an iron band at their very




Commercial Chronicle and Review.

723

doors. This has been the work of eighteen months, and although not yet consum­
mated, is steadily conducing to the grand result.
The road being finished, the greatest difficulty was, perhaps, in the want of
freighting vessels in the Pacific. Nearly all the craft sent to the western coast,
went there for a specific purpose, and not like numbers of ships in our ports, com­
missioned to look for business. This evil is being slowly cured, by dispatching
freighting vessels and steamers around the Horn on that particular errand. A l­
ready large amounts o f the produce of the South-west Coast, consisting of
Peruvian bark, cocoa, pearl shells, India-rubber, and hides, have been brought
over the road, together with some coffee. The latter will now come forward in
the new direction in larger quantities, a contract having been made to transport,
by the new route, a considerable portion of the new crop from Costa Rica to
New York. The service on the Pacific side will be performed by the steamer
Columbus, which will run regularly between the principal ports of Central
America, and on this side by sailing vessels. Two regular lines of vessels have
been established between Aspinwall (the Atlantic terminus of the road) and
England, one of which connects with Liverpool, and the other with London. A
steamship line has also been established between Liverpool and Aspinwall; the
pioneer steamer, the Saladin, is now on her first voyage, and is advertised to
leave Liverpool again in February.
The attention of the United States government has been called to this channel of
communication with the Pacific. Several companies of troops and supplies of
provisions and minutions of war have been sent out over the road for California
and Oregon. The brig Abby Taylor sailed November 18th from New York,
with a full cargo of stores for the Pacific Squadron, and merchandise for Costa
Rica ; and the steam-frigate Wabash, bearing the broad pennant of Commodore
Paulding, has sailed for Aspinwall, taking out a full crew for the St. Mary’s, in
exchange for those whose term of service has now expired. Hereafter, it is pro­
bable that none of the vessels of the government squadron in the Pacific will bo
sent home. A large portion of the period for which the outfit is made has here­
tofore been consumed in going out and returning ; and a great saving can be
effected by making the necessary changes across the little belt of land now tra­
versed by this road ; while the dock at San Francisco, even if the government
should not establish a naval station near Panama, would be quite sufficient for
the purpose of repairs.
W e have been thus particular in directing the attention of our readers to the
changes this new channel of commerce is likely to produce, because of the magni­
tude of interests involved, and because there is no rival enterprise to complain of
favoritism or injustice. W e hazard nothing in predicting for this point an
increase of consequence far beyond any past estimates of its importance. Less
than 50 miles in length, the Panama Railroad is one of the most important lines
ever completed. By steam, it is only 9 days from New York, 12 days from San
Francisco, and 18 days from Valparaiso ; and it is thus made the center of an
enormous trade, the lines of which must radiate from it, or be altogether lost in
the distance. It is also in the direct route of Australian commerce; and in the
course of another year or two, a regular line of steam packets will open a com­
munication between Great Britain and her Australian colonies, via the Isthmus.
Whether in the progress of this ever-increasing trade, the United States will be­
come possessed, by purchase, of the whole State of Panama in fee simple, as
some have suggested ; or only acquire the right of police regulation over a narrow
tract occupied by the road ; or the whole remain under the government of New
Granada, it is not safe to predict. In either case, the rights of transit and pro­
perty are guarantied in the strongest terms by treaty stipulation, and cannot
be legally infringed.
The receipts of gold at the Atlantic seaboard from California continue
about the same. W e annex a statement of the business for the last month, at
the New York Assay Office:—




724

Commercial Chronicle and Review.
D E P O S IT S A T T H E A SSAY

O F F IC E , N E W

Y O R K , F O R TH E M ONTH OF OCTOBER.

G o ld .

Foreign coins......................................
Foreign b u llion ................................
Domestic bullion ..............................
Total deposits.......................

$4,000 00
4,800 00
2,291,200 00
$2,300,000 00

Silver.

Total.

$15,000 00
5,500 00
19,000 00
$39,500 00

Deposits payable in b a rs..........................................................................
Deposits payable in co in .. , ...................................................................
Gold bars stamped......................................................................................
Transmitted to U. States Mint, Philadelphia, for coinage...................

$19,000 00
10.800 00
2,310,200 00
$2,339,500 00
2,309,500
30,000
2,117,845
25,229

00
00
64
37

The folio tying is a statement of deposits and coinage at the United States
Mint in the city of Philadelphia during the month of October, 1856 :— Gold de­
posits, $130,810 ; silver, including purchases, $60,370 ; total deposits, $191,180.
The coinage executed was—
GOLD

D E P O S IT S .

Value.
$12,321 00
319,763 00

No. of pieces.
Fine b a rs.......................
D ollars........................... ..................................

319,763

T o t a l.................. . . .

$322,089 00
S IL V E R

D E P O S IT S .

94,000 00

Quarter dollars.............
Dimes.............................
H alf dimes.....................
Three-cent p ieces.........
Fine Bars........................

6 8 ,0 0 0

00

32.000 00
2,530 00
7,269 68

Total.........................

$203,849 68
COPPER.

C en ts..............................

2,233 56

Total............... . . . .

$538,172 24

Denomination of coins on hand at the Mint o f the United States, at Philadel­
phia, at the close of business for the day, October 31st, 1856:—
GOLD.

S IL V E R .

Double e a g le s .........$591,960
Eagles.........................
55,220
Half-eagles...............
12,220
Quarter-eagles......... 121,060
Three dollar pieces..
21,531
Dollars....................... 219,503
Bars............................
8,875

00
00
00
00
00
00
75

$1,027,969 75

Bars...........................
Dollars......................
Half dollars...............
Quarter-dollars.........
D im e s .......................
Half-dimes................
Three-cent pieces . . .
Cents.........................

$7,175
10,786
451,901
536,366
66,931
105,691
35,392
1

67
00
00
00
50
76
74
32

$1,264,245 98

Total amount of balance on b a n d ......................................... $2,292,215 73

The banks have generally continued their contractions. A t New York, the
discount lines have run down, but the specie has fluctuated, the stream having
turned again from the interior.
A t the South the banks have been in a
comparatively easy position, but having noticed a disposition among their custom­
ers to hold on to produce at the current high rates, they declined to issue their
circulation freely, and thus for their own safety, as well as for the good of the




Commercial Chronicle and Review.

1 25

country, they will compel the speculators to hurry the cotton and other produce
to market. W e annex a statement of the New Y ork banks, showing the weekly
changes since the opening of the year :—
W E E K LY AVERAGES N EW

Date.

Capital.

Jan. 5,1866.
Jan. 12.........
Jan. 19.........
Jan. 26.........
Feb. 2 .........
Feb. !1 .........
Feb. 16.........
Feb. 23.........
March 1 . . .
March 8 . . .
March 1 5 ...
March 22. . .
March 2 9 . . .
April 5 . . .
April 1 2 ...
April 1 9 ...
April 2 6 . . .
May
8 ...
May 1 0 ...
May 1 7 ...
May 2 4 . . .
May 3 1 . . .
June
7 ...
June 1 4 . . .
June 2 1 . . .
June 2 8 . . .
July
5 ...
July 1 2 . . .
July 1 9 . . .
July 2 6 . . .
Aug.
2 ...
Aug.
9. . .
Aug. 1 6 ...
Aug. 2 3 . . .
Aug. 3 0 ...
Sept.
6 ...
Sept. 1 3 ...
Sept. 2 0 . . .
Sept. 2 7 . . .
Oct.
4 ...
Oct.
1 1 ...
Oct.
1 8 ...
Oct. 2 5 . . .
Nov.
1 ...
Nov.
8 ...
Ifov. 1 5 ...

49,453,660
49,453,660
49,453,660
49,692,900
49,692,900
49,692,900
49,692,900
49,883,420
49,784,288
49,784,288
49,784,288
49,784,288
51,113,025
51,113,025
51,113,025
51,113,025
51,118,025
51,113,025
51,113,025
51,113,025
51,113,025
51,458,508
51,458,508
51,458,508
52,705,017
52,705,017
53,170,317
53,170,317
53,170,317
53,170,317
53,658,039
53,658,039
53,658,039
53,985,068
53,985,068
53,985,068
53,985,068
54,243,043
54,243,043
54,243,043
54,243,043
54,443,043
54,497,718
54,497,718
54,697,718
55,197,718

L oans and
D iscounts.

95,863,390
96,145,408
96,382,968
96,887,221
97,970,611
98,344,077
99,401,315
100,745,447
102,632,235
103,909,688
104,528,298
104,533,576
104,745,307
106,962,018
107,840,435
106,765,085
105,538,864
105,325,962
103,803,793
103,002,320
102,207,767
102,451,275
103,474,921
104,168,881
105,626,995
107,087,525
109,267,582
109,748,042
110,873,494
111,346,589
112,221,563
112,192,322
111,406,756
110,188,005
109,373,911
109,560,943
109,579,776
109,715,435
108,992,205
107,931,707
107,147,392
105,918,836
104,156,483
103,142,093
102,508,639
103,554,450

Y O R K C IT Y

BANKS.

S p ecie.

C ircu la tion .

D ep osits.

11,687,209
11,777,711
13,385,260
12,733,059
13,640,437
14,233,329
15,678,736
15,835,874
15,640,687
15,170,946
14,045,024
14,369,556
14,216,841
13,381,454
12,626,094
12,958,132
13,102,857
12,850,227
13,317.365
12,796,451
13,850,333
14,021,289
16,166,180
17,414,680
17,871,955
17,069,687
16,829,236
14,793,409
15,326,131
13,910,858
14,328,253
13,270,603
12,806,672
12,914,732
12,965,236
13,098,876
12,281,387
12.270,685
10,873,220
11,015,184
10,382,751
10,847,010
10,580,795
11,057,675
11,516,420
12,253,737

7,903,656
7,612,607
7,462,706
7,506,986
7,622,827
7,819,122
7,693.441
7,664,688
7,754,392
7,888,176
7,863,148
7,912,581
7,943.253
8.347,498
8,281,525
8,221,518
8,246.120
8,715,163
8,662,485
8,488,152
8,335,097
8,269,151
8,430,252
8,360,735
8,278,002
8,250,289
8,637,471
8,405,756
8,346,243
8,386,285
8,646,043
8,676,769
8,584,499
8,588,413
8,589,745
8,887,860
8,741,064
8,760,383
8,665,193
8,830,628
8,748,930
8,697,417
8,649,802
8,686,935
8,946,721
8,856,977

83,534,893
77,931,498
82,652,828
78,918,315
82,269,061
82,848.152
88,085,944
87.68U.478
88,604,377
88,749,625
88,621,176
89.390,261
88,186.648
91,008,408
91,081,976
90,875.737
89,627,280
92.816,063
89.476,262
88,720,415
87,094,300
86,775,313
90,609,243
91,602,245
93,715,837
93,239,243
100,140,420
95,663,460
95.932,105
92.365.040
93,847,317
92,220,370
92,013,229
90,127,223
87,776,242
89,350,154
88,044,074
90,563,865
88.4 53,795
88,730,804
86,078,142
86,902,852
83.465,152
86 522,891
86,827,821
87,520,900

The following summary shows the aggregate of the resources and liabilities o f
the banks of the State of New York, as exhibited by the reports to the Super­
intendent of the Banking Department, of their condition on the morning of June
14 and September 20, 1856. A t the date of the June report there were 296
banks in full operation, and at the September, 303— an increase of 7. The State
Bank at Sackett’s Harbor has failed since the June report, and is therefore not
included in the last report. A ll the banks that were in operation at the date o f
the September call reported




726

Commercial Chronicle and Review.
RESOURCES.

Loans and discounts................................................ .
Overdrafts........................................ ......................
Due from banks................................................ .......
Due from directors...................................................
Due from brokers....................................................
Real estate...............................................................
S p ecie.......................................................................
Cash item s.............................................................
Stocks and promissory notes...................................
Bonds and m ortgages..............................................
Bills of solvent b an ks..............................................
Bills of suspended banks..........................................
Loss and expense a ccou nt......................................
Add for cents.............................................................
Total resources

June 14.
$174,141,775
495,204
12,255,098
8,020,916
4,474,172
6,724,163
18,510,835
20,168,335
23,511,223
8,381,501
3,085,996
1,106
1,191,994
947

September 20.
$163,868,670
482,734
12,179,169
8,137,237
4,571,829
6,868,945
12,899,771
22,678,628
24,027,533
8,806,415
2,935,205
1,312
978,838
928

$268,468,177

$275,747,148

92,334,172
30,705,084
12,945,901
29,730,686

96,381,301
34,619,633
12,656,237
29,014,135

1,031,641
8,254,421
96,267,287
2,188,456
629

1,150,504
3,433,496
96,907.976
2,183,403
550

$268,458,177

$257,747,148

L I A B IL I T I E S .

Capital............................... , ..........................................
Circulation....................................................................
Profits............................................................................
Due to b an k s...............................................................
Due to individuals and corporations other than
banks and depositors..............................................
Due Treasurer of the State of New Y ork ...............
Due depositors on dem and........................................
Due others, not included under the above beads..
Add for cen ts...............................................................
Total liabilities

Since the June report 84,047,129 banking capital has been added to the State.
There was at the date of this report an increase in the circulation of 83.314,549,
and in loans and discounts of §9,746,895. The most noted feature is the with­
drawal from the banks of §5,512,064 in specie, nearly one-third of the amount in
the banks at the date of the June report.
W e also annex our usual comparative summary of the weekly statements of
the Boston banks :—W E E K L Y A V E R A G E S AT BOSTON.

October 29.

October 27.

November 8. November 10. November 17.

Capital...................... $31,960,000 $31,960,000 $31,960,000 $31,960,000 $31,960,000
Loans and discounts..
52,599,388 52,415,827 52,231,943 52,142,800 61,762,000
Specie.........................
3,487,041
3.506,290
3,467,699
3,318,700 2,992,800
Due from other banks
7,382,232 6,990,811
7,404,840
7,420,000 7,459,000
Due to other banks. .
4,433,750 4,363.981
4,201,226
4,258,000 4,137,000
D eposits.................... 16,889,890 16,749,417 16.869,964 16,446,600 16099,600
Circulation................
7,607,471
7,271,186
7,325,644
7,596,700
7,337,000

The following is the statement of the condition of the Massachusetts banks, as
reported to the Secretary of State on the 3d of November :—
L I A B IL I T I E S .

C a pita l.......................................................
Net circulatiou...........................................
D eposits.....................................................
Profit on h a n d ..........................................
Total.




36 city.

136 cou n try.

$31,960,000
4,122,030
16,869,964
3,366,855

$26,639,362
18,750,751
7.353,875
2,247,864

$56,318,849

$49,991,852

Total.

$58,699,362
17,872,781
24,223,889
5,614,719
$106,310,701

727

Commercial Chronicle and Review.
RESOURCES.

Notes, bills o f exchange, &c....................
Specie..........................................................
Real estate.................................................

$52,231,943
3,467,699
619,207

$48,254,709
1,106,008
631,185

$100,486,652
4,673,707
1,250,342

Total...........................................

$56,318,849

$49,991,852

$106,310,701

The above statement exhibits, upon comparison with the 1st day of January
last, an increase in the amount of capital of §412,362 ; of deposits, of §3,493,622 ;
of loans, §3,268,776 ; and of specie, §75,976 ; and a decrease in the item of net
circulation of §184,981.
W e noticed in our last that the foreign imports had received a check, and the
tide at New Y ork turned in October. Bach previous month from January 1st
showed an increase upon the comparative total of the preceding year, until on
the 1st of October the increase had amounted to about fifty-eight-and-a-half
millions. In October the imports show a decrease of §1,779,439, as compared
with last year, but an increase of §2,794,554, as compared with October, 1854,
and of §1,642,667, as compared with October, 1853, as will appear from the an­
nexed summary:—
F O R E IG N

IM P O R T S A T N E W

YORK

18fit.

IN

OCTOBER.

1854.

Entered for consumption___
Entered for warehousing___
F reegoods...............................
Specie and bullion .................

$9,637,601
1,866,866
422,156
256,302

Total entered at the port___
Withdrawn from warehouse.

$12,182,925
1,188,983

$7,645,071
2,210,646
1,086,467
88,854
$11,031,038
2,070,544

1855.

1856.

$12,088,621
2,379,886
1,082,125
54,399

$9,932,001
2,836,781
961,781
95,029

$15,605,031
1,597,437

$13,825,592
3,273,982

The total imports of foreign merchandise and specie at New York since January
1st are §56,683,329 greater than for the corresponding ten months of last year,
§23,640,076 greater than the same period of 1854, and §19,488,427 greater than
for the same period of 1853.
F O R E IG N

IM P O R T S

AT

NEW

YORK

FOR

1853.

TEN

M ONTH S, FR O M

1854.

Entered for consumption ____$134,775,790
$120,408,905
Entered for warehousing ___
19,258.112
26,780,359
F reegoods ................................
11,386,972
14,204,625
Specie and bullion ..................
2,163,559
2,029,995

JA N U A R Y

1855.

1ST.

1856.

$96,753,676 $138,832,192
21,567,338
31,331,443
11,335,119
15,663,426
733,398
1,245,799

Total entered at the p o r t .... $167,584,433 $163,423,784 $130,389,631 $187,072,860
Withdrawn from warehouse.
12,871,001
19,607,761
21,068,896
22,371,624

H ow long this turn in the current of imports will continue it is, of coarse, im­
possible to te ll; but the stringency in the foreign money markets, instead of
checking shipments, as one writer has predicted, will evidently have the effect of
increasing the exports of merchandise. W e look, however, for a general diminu­
tion of imports throughout the next eleven months.
Nearly the whole of the decline in imports for October, as shown in the above
summary, is made up of dry goods. The total of this description landed at New
Y ork in October was §1,753,050 less than for October of last year, but §1,365,280
greater than for October, 1854, and §736,156 less than for October, 1853. The
falling off has extended to all descriptions of goods, as will appear from the
annexed comparative summary :—




728

Commercial Chronicle and Review,
IM P O R T S O F F O R E IG N

DRY

GOODS A T T H E

ENTERED

FOR

PORT

OF

NEW

YORK

F O R OCTOBER.

C O N S U M P T IO N .

1855.

1856.

Manufactures o f w o o l...................
Manufactures of cotton..................
Manufactures of s i l k .....................
Manufactures o f flax......................
Miscellaneous dry good s...............

$1,270,014
505,323
1,397,424
436,059
292,486

$578,508
256,956
631,959
342,655
245,993

$1,738,240
770,574
1,666,267
718,110
426,027

$910,699
694.649
l,00f .771
408,854
386,998

Total.............................................

$3,901,305

:$2,056,071

$5,319,218

$3,306,471

1851.

W IT H D R A W N

FROM

1854.

W AREH O U SE.

1851.

1856.

1855.

1851.

49,881
53,824
22,697
17,964

$336,435
62,319
166 019
45,483
18,863

$69,112
57,360
136,651
43,912
32,447

$169,765
69,032
69,091
62,416
31,133

T ota l..........................................
A dd entered for consum ption.. . . .

$258,844
3,901,805

$629,119
2,056,071

$329,482
6,319,218

$391,437
3,306,471

Total thrown on the market. .

$4,160,149

$2,685,190

Manufactures o f w o o l......................
Manufactures o f co tto n ............... .
Manufactures o f silk........................ .
Manufactures of flax.......................
Miscellaneous dry good s...............

ENTERED

F O R W A R E H O U S IN G .

1851.
Manufactures of w o o l ....................
Manufactures of c o t to n .................
Manufactures o f s ilk ......................
Manufactures of flax........................
Miscellaneous dry g o o d s ...............

1854.

244,156
165.144

Total.........................................
Add entered for consumption.. . . ..

$5,648,700 $3,697,908

$909,523
3,901,305

1855.

1856.

$193,851
70,686
111,091
179.705
98,088

$120,575
188,752
69,525
108,412
21,240

$155,399
301,681
67,424
159,846
83,851

$653,321
2,056,071

$508,504
5,319,218

$768,201
3,306,471

Total entered at the p o r t...... ,. $4,810,828 $2,709,392 $5,827,722 $4,074,672

The total of dry goods landed at New York for ten months, from January 1st,
was $26,786,014 greater than for the same period of 1855, $7,423,414 greater
than for the same period of 1854, and $992,754 greater than for the same period
of 1853.
IM P O R T S

OF F O R E IG N

DRY

G O O D S A T TI1E

PORT

OF N EW

YORK

FOR

TEN

M ONTH S

FR O M

JANUARY 1 S T .
ENTERED

FOR

C O N S U M P T IO N .

I85S.

1851.

1855.

1856.

Manufactures o f w o o l................... $22,989,636 $17,209,293 $14,762,483 $22,225,997
Manufactures o f cotton................... 12,722.383 12,659,194
7,284,754 13,857.725
Manufactures of silk....................... 28,922,651
23,398,759 18.878 589 26,260.353
Manufactures of f la x .....................
6,836,193
5,921,826
4,893,680 7 057,713
Miscellaneous dry go od s...............
4,760,538
4,932,265
4,503,066 6,260,956
Total




$76,220,301 $64,021,337 $50,322,562 $75,162,743

729

Commercial Chronicle and Review.
W IT H D R A W N

FROM

W AREH O U SE.

1853.

1851.

1856.

Manufactures o f w ool....................
Manufactures o f cotton .................
Manufactures o f silk.......................
Manufactures o f flax.......................
Miscellaneous dry good s...............

$1,912,709
931,970
1,217,435
280,754
399,697

$3,879,052
2.451,505
2,780,008
771,476
350,425

1855.
$2,271,944
2.041,920
2,485,211
1,107,080
740,646

$2,487,694
1,888,94 3
1,823,401
927,274
367,108

Total w ithdraw n.......................
A dd entered for consumption . . .

$4,592,565 $10,232,461
76,220,301 64,021,337

$8,646,801
50,322,562

$7 494,420
75,162,743

Total thrown upon the market. $80,812,866 $74,253,798 $58,969,363 $82,657,163
ENTERED

FO R W A R E H O U S IN G .

1853.

1856.

1855.

1851.

Manufactures o f w o o l....................
Manufactures o f cotton.................
Manufactures o f silk.......................
Manufactures o f flax.......................
Miscellaneous dry go od s...............

$2,410,638
1,404,349
1,614.669
453,823
337,157

$4,599,887
2,424,184
3,858,043
1,076.669
530,287

$1,569,684
1,440,662
1.815,763
880,309
618,797

$2,926,688
1,889,732
1,937,818
940,312
576,398

T ota l......................................
A dd entered for consumption.. . .

76,220,301

64,021,337

$6,325,115
50,322,562

$8,270,948
75,162,743

Total entered at the p o r t . . . $82,440,937 $76,010,277 $56,647,677 $83,433,691

The exports from New Y ork to foreign ports show an increase including specie,
but a decrease (exclusive of specie) of $515,245 from the total of the correspond­
ing month of last year ; there is a gain, however, of $1,215,536 as compared with
October, 1854, and of $89,723 as compared with October, 1853.
E X P O R T S F R O M N E W Y O R K TO F O R E IG N P O R T S FO R T H E M ON TH OF OCTOBER.

1851

1854.

1855.

1856.

$5,459,401
63,687
719,534
4,757,972

$4,672,017
128,780
316,012
3,359,398

$6,614,146
31,505
201,939
1,188,109

$6,129,837
71,931
130,577
4,996,660

Total e x p o rts............................. $11,000,594
Total, exclusive o f specie.........
6,242,622

$8,476,207
5,116,809

$8,035,699 $11,329,005
6,847,590
6,332,346

Domestic produce...........................
Foreign merchandise (free).........
Foreign merchandise (dutiable)..
Specie...............................................

The total exports, exclusive o f specie and bullion, from N ew Y o rk to foreign

ports for ten months since January 1st, are $13,075,870 greater than for the same
period of last year, $13,712,373 greater than for the corresponding period of
1854, and $15,757,073 greater than for the same period of 1853.
EXPO R TS FROM

THE

PORT

OF N EW

YORK

TO

F O R E IG N

PORTS

FOR

TEN

M ONTHS,

FROM

JANUARY 1ST.

1853.

1854.

1855.

185G.

Domestic produce............................ $45,884,119 $47,897,861 $46,422,445 $68,466,032
Foreign merchandise (free).......
1,217,683
1,446,079
3,489,470
820,006
Foreign merchandise(dutiable)..
4,112,093
8,915,655
8,983,183 2,684,930
S p e c ie .............................................
19,765,730 33,563,141 25,627,305 32,483.746
Total exp orts.............................. $70,979,625 $86,821,736 $79,522,408 $99,454,714
Total, exclusive o f specie......... 51,213,895 53,258,595 53,896,098 66,970,968

Notwithstanding the falling off in the imports of dutiable merchandise in
October, the receipts for cash duties have increased, in consequence of the large




730

Commercial Chronicle and Review.

amount withdrawn from warehouse, the goods stored being generally those subject
to the higher rates o f duty.
o f the year :—

W e annex a comparative summary since the opening

C A S H D U T IE S R E C E I V E D

1858.

AT N EW

YORK.

1854.

First quarter........... $11,125,500
Second quarter___
10,041,829
Third quarter........
13,613,105
In O ctober.............
2,705,694

1855.

47 $10,873,699 31
03
8,864,261 45
14 12,699,868 05
33
2,402,115 10

1856.

$7,588,288 21
6,711,657 50
11,601,517 60
3,329,194 95

$11,642,681 46
10.898,4 64 29
14,430,078 08
3,391,230 97

Total since Jan. 1. $37,486,128 97 $34,839,943 91 $29,230,658 26 $40,362,454 80
There has been a very large and important movement in produce, the shipments
o f grain from N ew Y o rk have been on a scale almost unparalleled for magni­
tude. The work still goes on, and, although the rates abroad have slightly
declined, they are still sufficiently high to pay a remunerating price to producers
in this country.

W e annex a comparative summary o f the exports o f certain

leading articles o f produce from N ew Y o rk to foreign ports, from January 1st
to Novem ber 17th :—
EXPORTS

OF

C E R T A IN

A R T IC L E S

PORTS

FROM

OF

1855.
Ashes— pots . . , . .bbls
pearls .
Beesw ax...........

D O M E S T IC

JANU ARY

PRODUCE

1ST TO

1856.

FROM

NOVEMBER

NEW

YORK

T O F O R E IG N

1 7 t H : -----

1855.

1856.

11,977
2,158
148,081

7,754 Naval s to r e s .. . .bbls. 678,892 447,297
38,656
1,178 Oils—-w h a le ....g a lls . 257,150
191,659
sperm ........... 703,845 519,349
l a r d ..................
95,908
44,745
B rea d stu ff's —
lin s e e d ............
11,000
5,006
Wheat flour . .bbls. 711,819 1,662,205
Rye flour . . .
11',305 P r o v i s i o n s —
19,631
Corn m e a l.. .
Pork............... b b ls. 139,817 130,950
47,377
70,213
B eef.........................
W h e a t...........bush. 2,118,458 7,669,308
59,343
63,113
Rye .
L228J86
Cut m e a ts ,lb s .. .15,316,193 26,453,867
Oats
17,032
B u tt e r .................... 897,781 1.036,738
Corn .
Cheese.......................6,705,116 3,132,247
Candles---mo!d..boxes
42,442
50,847
L a rd ......................... 7,891,997 9,472,915
sperm .........
9,781
4,260 R i c e ......................tres
19,681
33,633
C o a l.. .
6,858 T a llow .................. lbs. 1,191,308 1,106,915
Cotton.
170,903 Tobacco,crude, .pkgs
29,173
31,299
H a y ... ......................
5,222
4,100 j Do., manufactured.lbs 4,550,592 4,584,392
Hops . . .....................
8,786
3,854 |W h alebone................. 1,920,032 1,729,877
The shipments o f flour from N ew Y o rk alone have more than doubled, but the
exports o f wheat have increased the most rapidly, the total being nearly eight
millions o f bushels against about two millions for the corresponding date o f last
year.

The prejudice in Europe against Am erican flour, which we have already

noticed, and o f which we warned our readers last year, has limited the shipments
o f flour as compared with wheat. The inspection at N ew Y ork , it will be re­
membered, ran down so low, that much o f the flour branded as superfine was unfit
for human food. This has now been remedied to a great extent, the crop o f wheat
being so good that but little poor flour has been made, so that the standard is
necessarily higher. Still, it will take several seasons to overcome the prejudice.
I t is now established that this country is to take her place in feeding the world,
and our millers and merchants should be cautious in endeavoring to maintain the
character o f Am erican produce.




Journal o f Banking, Currency, and Finance.

731

JOURNAL OF BANKING, CURRENCY, AND FINANCE.
PHOTOGRAPHIC COUNTERFEITING OF BANK NOTES.
seropyan ’ s method

op prevention .

Having carefully examined Mr. Seropyan’s patent for preventing the counter­
feiting of bank notes, we cheerfully give place to the subjoined communication
from a reliable source. The New Haven Bank, Elm City Bank in New Haven,
and the Artisans’ Bank in the city of New York, have adopted the new plan of
the inventor. Dr. Porter, in his “ Principles o f Chemistry,” a text-book for
schools and colleges, (section 844, page 313,) recently published by A . S. Barnes
& Co., refers to Mr. Seropyan’s patent, and after mature investigation, agrees
with other scientific and practical chemists, in pronouncing it “ an effectual means
of protection against counterfeiting.”
F r e e m a n H u n t , E d ito r o f th e M erch a n ts' M a g a z in e :—
D e a r S i r :— The attention of the financial world has of late been much directed
to the subject of counterfeit bank notes, and the process which seems to challenge
most scrutiny, and is truly becoming formidable, is that of photographic counter­
feiting. The principles and laws of light and colors are now so well understood,
and the ordinary operators in chemistry are so easily able to make exact copies of
objects, that in the hands of dishonest men this knowledge and skill must excite
the apprehension of the entire commercial world.
It is very well known that photographic counterfeiting has been and can be
done. For example, not long since a skillful artist in Paris took a photographic
copy of a bank note of large denomination, and gave notice to the bank that he
should send it in on a given day. The officials of the bank of course closely scrutin­
ized every note of the given amount, and supposed it had not been presented, till the
artist appeared and selected from those taken, the copy he had made. Thus M.
Agrado passed a photographic counterfeit upon some of the most experienced and
competent judges of paper currency, and that, too, after forewarning that he should
do so. The Bank of France has been extensively imposed upon in this w a y ; and
it has often been impossible, on the closest deliberate examination, to distinguish
between the copy and the original. Now, if such judges, under such circumstances,
are at the mercy of the counterfeiter, what must be expected in smaller establish­
ments, where less caution is habitual ? In short, what safety is there ? What
security or pledge has any banking institution that it is not flooding itself with
indetectable counterfeits ? W ho shall distinguish the true from the false ? The
holder of the counterfeit stands at the counter by the side of the holder of the true
original note, but who shall say which is to be redeemed ? What can hinder any
bank from suddenly finding itself responsible to the public for more than double
its real circulation ?
These things are not said to excite unnecessary alarm. But in view of experi­
ments already made, and in view of the indubitable facts of science, too careful,
thorough, and immediate attention cannot be given this subject. It will be too
late to begin when business is bewildered by the utter uncertainty of paper
money.
N o one who keeps himself tolerably well informed upon the different branches
of practical science can need to be reassured of the facility with which photo­
graphic copying can be done. There are several processes, two or three o f which
may be referred to by way of illustration.
First. There is the Photo-Galvanographic process of engraving by Paul
Pretseh, of Vienna. He proceeds to take a negative copy of the engraving on
glass, and from that produces the intaglio or relievo electrotype plates from which




732

Journal o f Banking, Currency, and Finance.

he prints. Every one knows that such a perfect negative copy can be taken, and
only a very slight knowledge of a few simple chemicals is requisite to make the
proper transfer. A full account of Pretsch’s process may be found in the Practi­
cal Mechanic’s Journal for April, 1856. Then there is the mode practiced by Mr.
Robert McPherson, v iz.: Photo-Lithographing. Ho transfers his negative copy
at once upon stone by another photographic process, from which the printing is
done. Professor Ramsay, in speaking of this process before the British Associa­
tion, in G lasgow, stated that “ the above process modified had been employed with
success to etch plates of steel or copper without the use of the burin.” And in
further explanation of it he remarked that “ a negative, on glass or waxed paper,
is applied to the sensitive coating of bitumen, and exposed to the full rays of the
sun,” whereby of course a complete transfer of the copy is made without the loss
of a single line or shade. For moi’e full particulars upon this process see Annual
of Scientific Discovery for 1856.
N ow , with these tried and successful processes before us, what is to be done ?
The counterfeiter may very readily make himself acquainted with one or all o f
these processes. A nd then he has only to supply himself with a glass, a stone,
and some bitumen, and two or three simple chemical ingredients, avail himself o f
the universal sunlight, and the work is accomplished. The bank note has so per­
fect a fac-simile that the best judges are deceived.

The question then naturally arises, whether no one has or can invent some pro­
tection against this formidable undermining of our paper currency. In view of
this, chemists, supposing there was no chemical contrast between the red and
black of the bank note, suggested the idea of printing the original bill in these
two colors, in order to prevent the taking of a negative copy. But recent experi­
ments have conclusively demonstrated that in those colors there is a chemical
contrast, and therefore a copy of the note printed in red can be taken, and of course
that supposed protection becomes no protection at all.
But while all such efforts have heretofore proved ineffectual, there has appeared,
of late, a process that bids fair to accomplish all that is desired. I refer to the
Seropyan Patent. Much has been said and written concerning this process, and
full scientific explanations of it have been given elsewhere, which are accessible to
al readers.
Proceeding upon the basis of the chemical contrast, in respect to which pre­
ceding inv n ors and experimenters failed, Mr. Seropyan has succeeded in a
plan of making bank notes, whose colors have not a chemical contrast, and cannot,
therefore, be photographed. Now, it may seem a bold assertion, that the notes
of this patent cannot be counterfeited. But let us consider for a moment the
basis on which such a statement is made. His plan, after being matured by a
most patient, thorough, and extensive series of experiments, wherein all conceiv­
able opposite tests were used, was submitted to eminent professors of Yale College
and New York. Such leaders in science as Silliman, Dana, andTorrey, have given
their attention to the subject, and have publicly asserted their belief, that it is a
complete protection against all counterfeiting in which chemistry is involved.
They distinctly affirmed, that “ it is the best actual, if not the best possible pro­
tection. ” Certainly, no higher authority upon a scientific question can be
desired or obtained ; and it is quite unnecessary to say that these gentlemen are
not in the habit of presenting to the public idle theories or rash conjectures.
Moreover, attempts to counterfeit Seropyan's notes have repeatedly been made,
and have in every instance utterly failed. So that, although they have been before
the public some time, no copy of them has been taken, and in fact, as all photo­
graphic copying depends upon the chemical contrast ordinarily existing in colors,
his notes cannot be coppiod, inasmuch as they are without such contrast.
And of course, so long as no distinct negative copy of them can be taken it is im­
possible to counterfeit them by any of the processes already referred to in this
article. And to prove that this is practically true, read the following letter from
Mr. J. A . Whipple, an eminent photographic artist of Boston, to Prof. B.
Silliman, Jr. :—




Journal o f Banking, Currency, and Finance.

733

B oston , J u ly 21st, 1856.

Pi’. OK. B. SlLLIMAN, Jr.,

D ear S i r :— Yours o f July 9th came duly to hand, with the banknotes
printed by Mr. Seropyan’s patent process, of which you desired to have proto­
graphic copies made. Our attempts thus far have'been a complete failure, as
you will see by the results I send you, a n d it is m y o p in io n that it is im p o ssib le to
c o p y them b y a n y p h o to g ra p h ic p r o c e s s n o w k n ow n .

Yours, truly,
JOHN A. WHIPPLE.

A t the same time, these notes present a very pleasant visual contrast, and are
in no way inferior to the best heretofore made. So that while this patent becomes
a protection against counterfeiting, it furnishes a currency in every other respect
equal, if not superior, to that already existing.
Besides the processes we have spoken of above, might be mentioned what is
called the Anastatic process, in which a copy is transferred upon a zinc plate,
from which printing is done in the same manner as from a lithographic transfer,
or from it can be made an electrotype plate for the same purpose.
And again, there is a process of transferring from the bill directly upon the
stone, and printing from that. Now, against these also, the Seropyan patent fur­
nishes a complete protection.
So that all the kindred processes of photography by which the bank-note sys­
tem is endangered, are individually and collectively met by Seropyan’s patent.
Other chemists who had given attention to the subject, while they may have succeed­
ed in some one particular, failed in making such combination as should cover the
entire ground. While fortifying one part, another was left exposed ; but Mr.
Seropyan, in the most simple and beautiful manner, has so thoroughly and yet
so comprehensively matured his plan, that while it is entirely successful in the
particular, it is broad and far-reaching enough to embrace the whole difficulty.
Herein his plan differs from all others; he has achieved a whole where others may
have only succeeded in a part.
I f these things are so, and that they are abundant proof is had, certainly it is
a matter of vital concern to our banking institutions. That our paper currency
is in iminent danger by protographic counterfeiting and other chemical means,
is most evident. W ho knows, at this very hour, what multitudes of copies
the benign rays of the sun may be furnishing to the hands of knaves? So subtle,
and yet so easy is the course of this dishonesty, that every holder of paper money
may well feel his suspicion aroused.
It is, however, a favorable omen, that so much attention is even now given to
the method of preventing counterfeits; but the urgency of the matter, the abso­
lute necessity of arousing the financial world to a sense of its condition, cannot
be overstated. A protection is offered in the Seropyan patent, and truly it would
be little short of madness to allow anything which so simply promises relief, to
remain a day untested.
I f it succeeds, as it seems certain to, photographic counterfeiters will find their
“ occupation gone,” and the people will fold up their notes with a conscious
security and trust.
Yours, truly,
F IN A N C IE R .
N e w Y ork , Oct. 6th, 1856.

THE JOINT-STOCK BANKS IN LONDON.

The number of joint-stock banks in London is already large, and continually
increasing ; yet, notwithstanding the increased competition to which they are
exposed, they continue to show a most extraordinary growth of prosperity. F or
the six months just passed, the increase in the one item of customers’ deposits has
been £6,739,000, and the total of customers’ deposits now hold among eight
establishments is nearly forty mllions sterling, or about two hundred millions o f
dollars. The London and Westminster Bank, of which James William Gilbart




734

Journal o f BonJcing, Currency, and Finance.

is, and has been from its institution, the efficient manager, enjoys the largest busi­
ness, its paid-up capital being £1,000,000, its deposits £11,170,000, and its
guaranty-fund (formed from undivided profits) £147,000. Out of the eight
banks, the five senior ones pay dividends ranging from 10 to 22| per cent per
annum, and at the same time the safety of the principles on which they are con­
ducted, and the soundness of their position, are beyond even a shadow of question.
The remaining three banks likewise pay respectable dividends.
NEW METHOD OF COMPUTING STERLING EXCHANGE.
F r e e m a n H u nt,

Esq., Editor o f the Merchants' Magazine, etc:—

S ir :— Being satisfied that many who buy sterling exchange have no other
guide but the printed tables to satisfy themselves whether the amounts paid are
correct or not, I beg to point out a new and original method o f com putation;
namely, adding the rate o f exchange to forty dollars, (the nominal value o f £9,)
multiplying that amount with the amount o f the exchange or bills, and dividing
the product with nine, v iz .:—
£498 4s. 6d.
44.20

at 10| per cent.
10J per cen t.. . .

9960
1992
1992
884 4s.
110 0s. 6d.

40
4.20
44.20

9 J 2202154
$2446.84

Yery respectfully, yours,
ALGEBRA.

N ew Y ork , Septem ber 23d, 1856.

VALUATION OF PROPERTY IN BOSTON.

The value of real and personal estate in Boston, and the total tax in each of
the past eleven years, was as follows :—
Beal.

1846
1847
1848
1849
1850
1851
1852
1853
1854
1855
1856

..............................
..............................
..............................
..............................
..............................
..............................
..............................
..............................
..............................
..............................
..............................

Personal.

$90,119,600
$58,720,000
97,764,500
64,595,900
100.403,200
67,324,800
102,827,500
71,352,700
105,093,400
74,907,100
109,358,500
78,588,500
110,699,200
76,980,800
116,090,900 "
90,423,300
127,730,200
99,283,000
136,351,300
105,580,900
143,574,300
105,146,800

T otal valuation.

Total tax.

$148,839,600
162,360,400
167,728,000
174,180,200
180,000,500
187,947,000
187,680,000
206,514,200
227,013,200
241,932,200
248,721,100

$931,998
1,014,674
1,131,821
1,174,715
1,266,030
1,358,296
1,244,626
1,614,446
2,125,222
1,910,280
2,039,051

In 1855 the rate of taxation in Boston was 77 cents on the $100 ; and in 1856,
80 cents on the $100. The increased valuation of the present year, compared
with last, is partially due to the annexation of Washington village, which has
added $902,200 to the real estate, and $71,400 to the personal estate— total,
$973,600.




*735

Journal o f Banking, Currency, and Finance.
PAPER CURRENCY OF ENGLAND, FRANCE, AND THE UNITED STATES.

England..........................................
France............................................
United States...............................
B A N K IN G

IN

LO N D O N , P A R I S , AND

Outstanding
bank circulation.

Specie in
bank.

$189,730,000
122,419,000
165,838,000

$72,980,000
33,32i >,000
60,072,000

NEW

YORK.

Capital.. .......................................
Surplus..........................................
Private deposits............................
Public money................................
Circulation....................................

$92,515,000
20,613.000
240,813,000
38,795,000
107,420,000
4,526,000

$18,250,000
2,596,000
28,613,000
20,282,000
110,395,000

New Y ork.
$56,047,000
7,000,u00
58,696.000
13.816,000
8.649,000

London.

Paris.

Total movement.......................

$504,582,000

$180,086,000

$144,268,000

Loans and discounts.....................
Specie in b a n k .............................
In government treasury...............
Public sto ck s................................
Real estate and miscellaneous . .

375,787,000
53,920,000
Nil.
74,875,000

143,572,000
15,412,000
Nil.
13,596,000
7,456,000

104,156,000
111,580,000
18,816.000
5,514.000
10,204,000

Total, as above.........................

$504,582,000

$180,036,000

$144,268,000

C O M P A R A T IV E

Movement......................................
Specie.............................................
Percentage...... ...............................

S P E C IE

B A S IS .

$504,582,000
63,920,000
lO f

$180,036,000
15,412,000
Si

$144,268,000
24,396,000
17

Without meaning to question the intimate and mutually dependent money re­
lations between this country and France and England, we deem it appropriate to
present the foregoing carefully-prepared figures, as illustrating the relative bank­
ing position of the United States.
JOINT-STOCK BANKS IN LONDON AND NEW YORK.

London.

C apital...........................................................
Deposts .........................................................
Together

.................................................

Loans...............................................................
Specie..................................................................
Together...................................................

New York.

$21,388,000
189,218,000

$66,047,000
68,696,000

$210,556,000

$114,743,000

210,557,000
Nil.
$210,557,000

104,166,000
10,580,000
$114,736,000

W e omit the item of circulation in both instances. That of New Y ork is se­
cured, for the greater part, by public stocks. That of the London Joint-Stock
Banks is not reported separately from the private and provincial banks. A lto­
gether, the circulation authorized by the Peel A ct of 1844, as amended in 1855,
is $37,625,000, without bullion security, Bank of England notes being a legal
tender. The British paper currency is therefore comprised in the issues of the—
Notes.

Specie.

Bank of England....................................
Joint-Stock..............................................
Irish and S cotch .....................................

$107,420,000
32,395,000
49,915,000

$53,020,000
Nil.
19,060,000

T ogether..............................................

$189,730,000

$72,980,000




736

Journal o f Banking, Currency, and Finance.
VALUATION OF TAXABLE PROPERTY IS SEW HAMPSHIRE.

W e compile, from a, table prepared by the Assessors in New Hampshire, show­
ing the valuation of real and personal property in each town of that State for
1856, the subjoined summary of the taxable property in the several counties, as
follows:—
Rockingham.
Belknap . . .
Merrimac . . .
Hillsborough
Grafton........
Total

$20,788,320 Stafford
6,467,765 Carroll .
15,548,299 Cheshire
27,498,821 Sullivan.
13,076,152 C o o s __

$11,324,303
4,760,750
11,750,894
• 7,867,350
3,326,774

$82,369,357

$38,780,071

Total

Showing a total valuation for the State o f .......................................

$121,149,428

The city of Manchester, in nillsborough county, is the highest on the list— its
valuation amounting to $9,279,438. In Nashua, in the same county, the value
of property amounts to §4,483,567 ; both are manufacturing towns. In Ports­
mouth, (the most commercial town in the State,) the valuation is put down at
$6,242,624.
___________________
THE BASK OF FRANCE AND FRENCH COINAGE.

'I'he Bank of France issues notes to the amount of 10,000, 5,000, 1,000, 500,
300, 200, and 100 francs. The 200-franc notes were first circulated in 1846, the
100-franc notes in 1848, and the 10,000 and 5,000 franc notes have been issued
since 1843, which are payable in specie on demand by the holder. Its capital,
which consists of 67,900 shares, at 1,000 francs, making a total of 67,900,000
francs, is employed in discounting bills of exchange, in making advances of mo­
ney in government securities, and in deposits of bullion or foreign coin, diamonds,
shares in public companies, at the rate of 1 per cent per annum. N ot less than
the value of 10,000 francs is received as a deposit, and discount for forty-five
days is deducted from the amount of the sum advanced; nor, if the deposit be
redeemed the next day, is any part of the discount refunded. The paper of the
Bank of France chiefly circulates in Paris and the neighborhood ; at a distance
from Paris its notes pass at a discount of 11- per cent, as they are not received
in payment of taxes or custom-house duties in seaports ; so that remittances to
Paris must be made in cash, for which a charge of 5 per cent is made at the
post-office; the dividend of the bank on each share has been three francs, halfyearly, or at the rate of 6 per cent per annum.
The Bank of France has now comptoirs, or branch banks, in from twenty to
twenty-five of the principal cities of France. The issue of these branch banks
was limited to 356,000,000 francs by a decree of 1848. The shares of the bank,
which, antecedent to this decree, under the government of Louis Phillippe, had
risen to 3,550 francs, become depreciate, and fell to 1,250 francs. In January,
1852, these actions, or shares, were quoted at 3,100 francs. In August, 1850,
the Bank of France was authorized to resume its payments in specie. A decree
of the 12th of August, 1850, suppressed the cour farce of the notes, and extend­
ed the circulation. These two decrees restored confidence, augmented by the
weekly publication of the accounts of the establishment. The end, we have in
the present reported suspension.




737

Journal o f Banking, Currency, and Finance.

The recent gold coinage of France has been limited to the Napoleon, of twenty
francs value, and the double Napoleon, of forty francs, called under the Bourbon
regime the Louis and the double Louis. The silver coin are the live-franc piece,
the franc, and the demi-franc.
It is now stated that, in consequence of the extent of the exportation of the
silver coin, and its consequent scarcity, the issue of gold five-franc pieces is au­
thorized, and that the Bank of France has made a contract with the mint for the
coinage of ten millions of these coins, amounting to 50,000,000 francs, and to
furnish them at the rate of 175,000 francs a day. The value of these coins, if of
the same standard and comparative weight as the Napoleon, as they doubtless
will be, will be 96 cents and 65-100 of our currency, or 3.37 per cent less than
the American dollar.
The following statement shows the coinage issued from the mint at Paris from
1849 to 1855 inclusive, and the average amount of gold and silver held by the
Bank of France during the same period :—
C O IN A G E .

Gold.

1849 ........ ....... francs
1850 ........................
1851 ........................
1852 ........................
1853 ........................
1854 ........................
1855 ........................

Silver.

27,100,000
85,200,000
285,200,000
27,000,000
330,500,000
526,500,000
460,000,000

206,500,000
86,500,000
68,560,000
71,700,000
20,100,000
2,100,000
7,000,000

1,741,500,000

462,400,000

H E L D B Y B A N K OF FRANCE.

Gold.

Silver.

4,060,000
11,980,000
82,260,000
68,985,000
103,598,000
193,337,000
112,500,000

429,270,000
446,840,000
486,460,000
434,994,000
214,482,000
193,723,000
87,500,000

576,671,000

2,298,269,000

From this statement it appears that the gold coinage in seven years reached
1,741,500,000 francs, while the silver in the bank in 1855, as compared with
1851, was reduced 400,000,000 francs. In 1849, 206,500,000 francs of silver
were coined, while in 1855, the mint furnished but 7,000,000.
LIABILITIES OF BROKERS IJV THE NEGOTIATION OF FORGED NOTES.

It has been generally supposed hitherto, that there was no liability on the part
of a note broker to any person to whom he sells forged paper— that the broker
is merely the medium of communication between the holder or seller of the paper
and the buyer— and that no guaranty of genuineness is given by such broker.
This view was generally entertained, both in this country and in England, until the
recent case of Gurney, the celebrated bill broker in Loudon, tried in the Court
of Queen’s Bench, in which it was decided by Lord Campbell “ that the vender
of a bill of exchange, though no party to the bill, is responsible for its genuine­
ness, and if it turns out that the names of any of the parties to it are forged, he
is responsible to the vendees.” The defendants in that case were bill brokers,
who received the bill to be discounted, and took it to the plaintiffs who were
moneylenders. The defendants did not disclose their principals, and were them­
selves regarded as principals, the paper having been forged.
A case of a similar kind was decided in Novemoer, 1856, before the Superior
Court of Baltimore city. Mr. William Fisher, a note broker, negotiated a pro­
missory note, which afterwards proved a forgery, for tfdOi ; and upon discovery of
the fraud, Messrs. H. Biemau is Sons, the purchasers, claimed the amount from
V O L . X X X V .-----N O . V I .




47

738

Journal o f Banking, Currency, and Finance.

Mr. F. Under the law o f New York, such a transaction, being at usurious rates
of interest, would be void : but in Maryland the law is not so severe. Upon a
trial of the case before Judge Lee of the Superior Court, he instructed the jury
to the effect:—
That if they find from the evidence that the defendant sold to the plaintiffs the
paper offered in evidence by the plaintiffs, purposing to be the promissory note of
Edward Dunn, in favor and indorsed by J. P. Kridler, and also purporting to be
indorsed by Henry Shirk ; and if they further find that the names of Edward
Dunn and Henry Shirk as drawer and indorser of said note were forgeries, that
then the plaintiffs are entitled to recover such sum as they may find was paid by
them to the defendant for said paper, notwithstanding they may find that the
defendant acted as an agent in said sale, unless they also find that the defendant at
the time of such sale disclosed the name of the person or persons for whom he
acted as agent in such transaction.
A verdict was rendered for the plaintiffs accordingly. This is a very impor­
tant case as a precedent, and should be duly considered both by brokers and
bankers.
DEBT OF THE CITY OF SAN FRANCISCO.

J. M o u l d e r , the City Controller, gives, in his annual report to the
Common Council of the city, the following brief synopsis of the city debt, funded
and unfunded:—
A ndrew

A m oun t
outstanding.

Interest to bo
raised
annually.

Sinking fund
to be raised
annually.

$1,509,500 00
60,000 00

$150,000 00
4,200 00

Fire Bonds...........................

200,000 00

20,000 00

New Bonds (o f 1 8 6 5)...........
Audited accounts of 1855-56
Mortgage on City H a l l.........

824,500 00
167 585 80
27,792 19

19,470 00

$50,000 00
5,000 00
16,666 66
None.

$2,289,377 99

$201,178 84

D ebt.

First Funded D ebt.................
School Bonds............................

Total....................................................

7,508 84
$71,666 66

The Controller states, in the same report, that the interest upon all the city
bonds has been paid regularly during the year, and further, that funds were trans­
mitted to New Y ork in time to pay the coupons upon the fire bonds and new
bonds, due on the 1st of July, 1856, in the city of New York.
DISPLACEMENT OF SILVER BY GOLD IN EUROPE.

'A London correspondent says :—
“ The displacement of silver by gold, which is now going on with extraordinary
rapidity in all the principal countries of the continent, is an independent question.
The movement has been in progress ever since the discovery of gold in California
and Australia, although it receives an additional impulse from existing circum­
stances. The only remedy for it will be the adoption of a silver coinage of
debased value ; and this could not only be effected without difficulty, but it might
be a source of large profit to the French and other governments.
“ The margin, indeed, must necessarily be large, since, if it were less than 8 or
10 per cent, there would be a prospect o f another alteration becoming requisite at
a future period. In England the silver coinage was originally 8 per cent below
its nominal value as compared with gold ; but owing to the depreciation of gold,
the difference is now only 3| per cent, and there is, consequently, a possibility
that before long the inequality, even in this country, may entirely disappear, so
as to render a new debasement necessary in order to prevent it from being sent
out of the country.”




1 39

Journal o f Insurance.
BRITISH IMPORT AND EXPORT OF SILVER,

According to a table which we find in the Liverpool Albion, the imports of
silver from Mexico and South America, for the first eight months of 1856, by the
Royal Mail Steamers, at Southampton, amounted to $20,962,000, equal, in round
numbers, to £4,100,000. The exports of silver to India and China, by the semi­
monthly steamers to the former and monthly steamers to China, for the first eight
months of 1856, that is, from January to August, both inclusive, were as fol­
lows :—
Singapore,
India.

p A T ia n o r

£5,034,388

A’ .c .

China.

£1,715,113

TotaL

£7,165,893

Here is at once an excess in the exports over the imports of upwards o f
£3,000,000; but this is not all, for England has been exporting silver to the con­
tinent in the same period.
The exports of silver from London to the continent, as per customs entries, for
the first eight months of 1856, amounted to 2,036,000 ounces.

J O U R N A L OF I N S U R A N C E
NEW ORLEANS INSURANCE COMPANIES.

Concurrent with the great interests o f the city and of the State, says the writer
of the financial review in the New Orleans Crescent, auxiliary to the commerce
and trade of New Orleans, blended with the protection of all the great and varied
interests of commerce, agriculture, and life, guarding and supporting and afford­
ing the very essence, as it were, forming the basis and foundation of all mercan­
tile transactions— and in fact they may be termed the very elements of commerce
and trade— are the insurance offices of the country; among which we do not find
any possessing more strength and solidity, more faithful and punctual in their en­
gagements, than the insurance companies of New Orleans. Among these the
Crescent enumerates—
The New Orleans Insurance Company, incorporated in the year 1805, with a
capital of $200,000, but now augmented and working on a capital of $442,000.
The Merchants’ Insurance Company, now the Mutual, organized in 1829, and
now working on assets, all good and sound, of $592,000.
The Crescent Insurance Company, organized in 1850, and now working on
$1,130,000.
The Home Mutual Insurance Company, incorporated in January, 1852, and
working on assets, exclusive of premium notes, of $645,000.
The Louisiana Mutual Insurance Company, working on assets, exclusive o f
capital, of $287,000. Organized in 1853.
The Sun Mutual Insurance Company, organized in January, 1856. Subscrip­
tion and assets, $531,241; total, $3,637,241.
There are no insurance companies in the United States which keep so much
ready cash on hand as the insurance offices of New Orleans. For instance, the
Crescent Insurance Company had on hand, at its last annual report, only sixty
days since, $108,000 ; the Home Mutual, at its last annual report, $86,000. AH




740

Journal o f Insurance.

the assets of the various companies can be converted into cash at short order.
"We think that New Orleans can boast of one thing— that it has an insurance
company (the New Orleans) the organization of which dates as far back as fiftyone years. I f there is an older institution in the nation, which has maintained
its credit and punctuality for the same period of time, we shall be glad to record
the fact in the Merchants’ Magazine.
MARINE INSURANCE.

The Journal of Commerce devotes an article to the difficulties and the losses in
which this business is involved, and adds another to the list of causes which lead
to the troubles that may be enumerated. This is the combination for a uniform
tariff among the offices, which crowds the best business into the strongest offices,
giving them the pick of all the risks, and the next strongest class the second
selection, until the weaker offices find no business but the poorest, upon which they
can never prosper, but must ultimately sink under the disadvantages of their
position. This is the reason, the Journal of Commerce thinks, why the firstclass risks are monopolized by a few of the strongest offices which are crowded
with business, while other offices of less strength are unabled to obtain a share of
the safest business to keep them in a profitable or even safe condition.
The combination of the numerous companies, with their varied degrees of
strength and position, for a uniform rate of premium is likened to a combination
o f mechanics to compel the payment of a uniform rate of wages for a day’s labor,
without regard to the ability or skill of the individuals. The consequence is
that the best workmen get full employment, but the less competent are thrown out
of employment, or obtain only a small proportion of work, being only employed at
those periods when there is a more than ordinary demand for labor.
There is much force in this view taken by the Journal, and the whole subject
demands the attention of capitalists and business men, for the matter of insurance
is now in an unfavorable condition for shipowners and for underwriters too, if we
except a few of the most prosperous companies. While the rates of premiums
are extremely high, many companies are in a weak condition, and notwithstanding
the payment of exorbitant premiums, there is no efficient security to the assured
that losses will be paid. A reform is imperiously demanded in the system, and
the plan which strikes us most favorably, is the establishment of strong stock
companies, with sufficient paid-up capital to command good managers, and take an
independent position.
NEW FEATURE IN FIRE INSURANCE.

The Evening Post notices a new feature in fire insurance, which is worthy of
attention. It says :— “ The heavy rates charged for fire insurance are becoming
more and more complained of. It is observed that the high rates charged have
no justification in the risks incurred or covered ; for the gains resulting from such
charges are not saved to form a fund to meet any losses from a large conflagra­
tion, such as ere now have happened in New York, and the fear of which alone
would justify heavy premiums, but on the contrary are annually divided ; so that
capital invested in insurance companies derives more than the usual profits of
stock. The dividends declared amount to 20,30, or even 40 per cent per annum,




Journal o f Insurance.

'741

and this after an extravagant expenditure of some 30 per cent of the earnings.
Such profits as these are more— much more— than adequate to the risks incurred
by the companies. Some reform is needed. I f the premiums are to continue
heavy, the assured should share in them, and this seems to be the true principle.
“ The Continental Insurance Company has recently adopted this principle,
though it has earned and divided as large profits as any company. In future,
however, and from the 1st of July last, it gives the holders of its policies a share
in the profits. The stockholders are insured first, out of these profits an annual
interest of 7 per cent; and then concede three-fourths of the remainder to policy
holders, for which scrip, bearing interest at 6 per cent per annum, shall be granted.
This scrip fund is to be allowed to accumulate to §500,000— thus doubling the
capital of the company, which is §500,000— and all amounts beyond the §500,000
thus accumulated, are to be divided from time to time in payment of the princi­
pal of the scrip.
“ This plan gives a two-fold security to the insured— one by the capital sub­
scribed, and one by the scrip fund allowed to be accumulated; which in other
companies is divided year by year among the stockholders ; and a security is also
furnished to the stockholders— the large fund being a breakwater for the protec­
tion of their capital stock, which cannot be touched until this fund is exhausted,
and which is only likely to become less in some rare occurrence of a grand con­
flagration. The plan, too, is of a direct advantage to the insured, in rendering
back to them all excess of charges beyond a fair amount for benefit derived, and
it affords a strong inducement for persons to effect insurance, the doing which,
indeed, is a sort of moral obligation on them, for their families and creditors.
“ W e have alluded to this novelty in insurance as an important and desirable
one, and deserving encouragement.”
INSURANCE LAW OF LOUISIANA.

W e give below the provisions of an act of the Legislature of Louisiana, passed
at the session of 1855, with “ reference to foreign insurance companies not incor­
porated by the State of Louisiana.”
S ec . 5. That every person acting as agent of an insurance company not
incorporated by the laws of this State, and doing fire, river, or marine insurance
within the city o f New Orleans, shall during the month of January of each year,
cause a full statement upon oath of the business of the agency to be published, in
the manner and form and for the term as specified in the preceding section, (see
local offices,) and for the neglect or refusal so to do shall forfeit and pay into the
city treasury the sum of one thousand dollars for each and every neglect or re­
fusal. Wherever the parent or principal office of the agency shall publish an
annual statement of its affairs, the time mentioned in the first part of this section,
for the publication of the affairs of the agency shall be so far changed as to cor­
respond with the annual statement of the insurance company, and shall then be
published as aforesaid within one month from the date of publication.
S e c . 6. That each incorporated insurance company and agency of any foreign
insurance company in the city of New Orleans shall be taxed five hundred dol­
lars per annum, said tax to be collected by the State Tax Collector in the parish
of Orleans, and as soon as collected shall be paid into the city treasury to the
credit of the fire department, to be divided equally between the different fire, hose,
hook-and-ladder companies, in such manner as may be determined by a majority
of the firemen of such companies.
S ec. 4. (As referred to in Section 5.) That the officers of each insurance




742

Statistics o f Trade and Commerce.

company, incorporated by the laws of this State, shall within one month or the
close or expiration of each year of the corporation, cause to be published in two
or more daily newspapers published in the city of New Orleans, and for the term
of at least one month, a full statement, under oath, of the business of the company,
which statement shall contain— first, the amount of the premium received during
the previous year, specifying what amount was received for life insurance, for
insurance against fire, what on marine policies, and what on river policies; second,
the amount of losses received during the year, specifying and designating what
amount of losses have been incurred by the different kind of policies as aforesaid ;
third, the amount of capital, stating the portion of the same invested in securi­
ties, and the nature of the securities.

STATISTICS OF TRADE AND COMMERCE.
AMERICAN PROVISIONS AND BREADSTUFFS IN LIVERPOOL.

W e are indebted to James M'Henry & Co., American Produce Commission
Merchants, Liverpool, England, for an account of sales in Liverpool of provisions
and breadstuffs, at prices equivalent to cost free on board in the United States,
(exchange 108,) with monthly variations for eleven years, and statement of im­
ports for ten years. Prom the pamphlet accompanying J. M‘Henry & Co.’s cir­
cular, we compile the following table of
IM P O R T S

FROM

THE

U N IT E D S T A T E S IN T O
in

Flour.
Bbls.
1 8 4 7 ...............
1 8 4 8 ...............
1 8 4 9 ...............
1 8 5 0 ...............
1 8 5 1 ............... ......................
1 8 5 2 ............... ....................
1 8 5 3 ............... ....................
1 8 5 4 ............... ......................
1 8 5 5 ............... ....................
1 8 5 6 ............... ......................

1 8 4 7 ...............
1 8 4 8 ...............
1 8 4 9 ...............
1 8 5 0 ...............
1 8 5 1 ...............
1 8 6 2 ...............
1 8 5 3 ...............
1 8 6 4 ...............
1 8 5 5 ...............
1 8 5 6 ...............

836,559
737,688
975,121
1,174,859
80,978
958,291

L IV E R P O O L

D U R IN G

TEN

Y E A R S , C O M M E N C IN G

1847.

Wheat.
Qrs.

154,290
259,906
538,202
482,219
27,816
719 ,02 9

Eice.
Trcs.

Beet
Equal to tcs

222,239
121,680
140,269
673,892
670,799
7 4 2 ,76 4

202
5,338
7,066
5,066
877
3,810

19,446
16,428
26,558
21,081
27,519
24,814
38,499
26,195
35,584
37,920

Corn.
Qrs.

Pork.
Bbls.

Bacon.
Cwts.

Lard.
Tons.

Cheese.
Boxes.

Butter.
Firkins.

......................
......................
......................

35,634
31,511
37,162

......................
......................
......................
......................
......................
......................

5 ,762
1,629
10,419
17,171
81,313
17,497

53,523
119,158
224,794
156,347
66,161
26,103
117,806
203,801
144,750
232 ,17 0

4,893
9,572
4,892
10,049
3,749
3,349
3,718
10,760
4,660
5,508

105,284
106,155
113,780
108,696
67,479
38,900
57,855
69,222
85,524
109,104

9,622
3,430
8,599
7,9 7 *
12,124
5,029
5,235
13,630
210
5,911




743

Statistics o f Trade and Commerce.
S A L E S IN

L IV E R P O O L
FREE

Cost.

O F P R O V IS IO N S
ON B O A R D

IN

AN D BREADSTUFFS

TH E

U N IT E D

Sold.

BEEF.

A T P R ID E S

STATES— EXCH AN G E

Cost.

E Q U IV A L E N T

TO COST

108.
Sold.

PORK.

Per bbL

Per tierce,
s.
d.

$30 per tierce of 304 lbs...........
28
“
“
26
“ '
“
25
“
“
23
“
“
20
“
“
...................
18
“
“
16
“
“

142
133
124
120
Ill
97
88
79

6

s. d.
86 0
81 6
77
72 6
68
63 6
59
50

$18 per bbl. o f 200 lbs...........
17
“
“
16
“
“
15
“
“
14
“
“
13
“
“
12
“
“
10
“
“

6
6
6
6

Duty free. Terms of sale equal to 6 months’ and 14 days’ credit. I f sold
from the quay, Is. 6d. per tierce or barrel less. Marine insurance estimated at 1
per cent; freight, 5s. per tierce, 3s. per barrel.
Cost.

d.

s.

11 cents per l b . . . .
M
10
it
9
8

7
6

ti

«
M

Cost.

Sold.

BACON.

0 per 112 lb9.

69
64
49
44
38
33

u
u
a

9
6

“

Sold.

HAM S & SHOULDERS.
d.
8.

11 cents per lb . . .
u
10
..
u
9
..
<(
8
..
it
7
..
K
6
..
it
5
..
M
4
..

61
56
50
45
40
34
29
24

per 112 lbs.

0

U

6
8

*
a
a

9
6

a
a
u

A ll duty free. Estimated loss in weight: Bacon, in salt, 2 per cent; singed
sides, 3 to 5 per cent; hams and shoulders. 5 per cent. Estimated freight, 30s.
per ton gross. Insurance, 11 per cent. I f sold ex-ship, a saving of 6d. per cwt.
will be effected. Terms of sale equal to 4 months’ credit.
Cost.

11 cents per l b . . . .
10
“
....
9
8

7
6

Sold.

CHEESE.

u
u

“

....

6.
63
68
53
47
42
37

Cost.

8.

6 per 112 lbs.
it

«(
6
9
6

S old.

BUTTER.

d.

“
“

14 cents per l b . . . .
13
U
12
U
11
it
10
tl
9

81
76
70
65
60
55

d.

0 per 112 lbs.
U
6
6
3

“
“

C heese . Estimated loss in weight, 3 to 4 lbs. per cw t.; duty, 2s. 6d. per
cw t.; insurance calculated at 1| per cent. Terms of sale equal to 4 months'
credit.
B utter . Estimated loss in weight, 3 lbs. per cwt. ; duty, 5s. per c w t.; insur­
ance calculated at 1£ per cent; freight, 30s. per ton of 2,240 lbs. gross.
LARD.

Cost.

12 cents per lb
11
10
“

Sold.

s.
66
60
65

Cost.

d.
0 per 112 lbs. 9 cents per lb
9
8
6
“
7

Sold.
s.

d.

60 3 per 112 lbs.
45
39 9

Duty free. Estimated loss in weight, 1| lbs. per cw t.; freight, 30s. per ton
gross; insurance, l i per cent; if sold ex-ship, 6d. less will give same cost; terms
of sale equal to 6 months’ and 14 days’ credit.




1U

Statistics o f Trade and

Commerce

/--------- -------------FLOUR.--------------Cost p e r barrel.

Federal.
$4 00
4 25
4 50
4 75
5 00
5 25
5 60
5 75
6 00

£0
0
0
0
1
1
1
1
1

16
17
18
19
0
1
2
4
5

.

CORN-MEAL.-

Sold.

Sterling.
8
£1 1
9
1 2
9
1 3
10
1 4
10
1 6
11
1 6
11
1 7
0
1 8
0
1 10

C ost p e r barrel.

Sold.

Federal.

1

*8
3
8
8
4

2

8
5
6
8
9
9
0

Sterling.

00
25
60
75
00

£0
0
0
0
0

12
13
14
15
16

6
7
7
8
8

£0 16 8
0 17 8
0 18 10
1 0 0
1 1 1

Duty, 71d. per bbl., all re-weighed here, and 20 lbs. tare allowed per bbl. when
the gross is under 1 cwt. 3 qrs. 20 lbs.; freight, Is. 6d. per b b l.; insurance, 11
per cent; if sold ex-ship, a saving of 6d. per bbl. is effected; terms of sale, 3
months’ credit, or equal thereto.
.--------------------------- WHEAT.--------------- ----------- ,

Cost.
P er bushel
60 lbs.
Federal.

$0
0
1
1
1
1
1
1

80
90
00
6
10
15
20
25

Cost.

P er bushel
Including all
70 lbs.
charges.
Sterling.

£0
0
0
0
0
0
0
0

,------------------------- INDIAN-CORN.------------------------- \

Sold.

3 10
4 4
4 10
5 1
5 4
5 7
5 10
6 1

£0
0
0
0
0
0
0
0

5 i
5 7
6 1
6 5
6 8
6 11
7 2
7 5

£0 16 1
0 17 10
0 19 7
1 1 5
1 3 2
1 5 0
1 6 9
1 8 7

$0 45

0
0
0
0
0
0
0

Sold.

Inclu din g all
P e r quarter
480 lbs.
charges.
Sterling.

P e r bushel
56 lbs.
Federal.

60
55
60
65
70
75
80

£1
1
1
1
1
1
1
1

3
6
7
9
11
13
15
17

6
5
5
4
3
3
2
0

Duty, Is. per quarter of 8 measured bushels; insurance estimated at 11 per
cent; freight, 4d. per bushel; terms of sale equal to 3 months’ credit.
W e now quote, from the same authentic source, the monthly variations of prices
of American produce in the Liverpool market during eleven years, commencing
October, 1846, and ending September 30th, 1856 :—
PRICES OF BACON, BEEF, PORK, LAUD, AND CHEESE IN LIVERPOOL FOR ELEVEN TEARS.
BACON.
Shillings.

October, 1846 .............
N ovem ber...................
December...................
January, 1847.............
February ..................... ___
M arch.........................
A p r il............................
M a y ..............................
J u n e .............................
J u ly .............................
A u gu st........................
Septem ber.................
O ctober........................
November...................
D ecem ber...................




44
44
53
53

54
60
55
65
674
674
66J
60
60
60
60

BEEF.
Shillings.

PORK.
Shillings.

LARD.
Shillings.

*CHEESE.
Shillings.

70 a 76
65 72J
65 75

56 a 60
56 60
50 56

40 a 44
43 45
43 44

50 a 56
50 56
50 54

80
85
90
90
90
90
90
85
80
75
75
65

50
60
65
65
70
70
70
65
60
60
60
45

43
50
52
45
44
46
46
46
46
64
52
48

50
50
47
60
50
53
52
50
48
50
45
48

85
95
974
974
95
95
95
90
90
85
85
80

* O nly fine quoted.

60
724
75
75
80
76
76
70
70
70
70
60

44
54
54
50
48
50
48
48
54
57
55
54

53
53
52
54
56
60
57
53
50
56
50
62

Statistics o f Trad e and

Commerce

.

745

BACON.
Shillings.

BEEF.
Shillings.

PORK.
Shillings.

LARD.
Shillings.

CHEESE.
Shillings.

January, 1848....................
February............................
M arch.................................
A p r il...................................
M a y ....................................
J u n e ...................................
J u ly ....................................
A u g u st...............................
Septem ber..........................
O ctober..............................
November..........................
Decem ber..........................

45 a 54
50 54
50 55
50 56
50 54
48 52
None
None
None
None
None
40 50

65 a 75
65 75
65 75
70 80
70 80
70 85
70 88
70 88
70 90
70 80
70 80
None

40 a 60
40 50
65 75
65 75
60 70
60 60
40 50
45 52
48 52
50 52
None
72
..

54 a 58
52 58
47 51
38 43
36 40
38 40
38 40
40 44
41 44
40 44
38 40
36 39

45 a 48
46 50
46 50
46 50
60 62
None
None
None
45 50
48 55
46 48
46 48

January, 1849...................
February............................
M arch................................
A p r i l . . . . .........................
M ay.....................................
June....................................
J u ly ...................................
A u gust...............................
Septem ber........................
O ctober..............................
November..........................
D ecem ber.........................

40 45
40 44
40 42
40 42
35 40
32 38
32 40
30 36
30 33
30 33
28 33
32 34

85
70
60
60
60
60
60
70
66
65
65
65

90
88
80
80
80
80
80
80
80
80
75
75

68
68
60
60
60
65
50
50
50
60
50
50

70
72
65
65
65
60
56
52
60
60
60
66

34
35
34
34
34
34
34
33
35
35
35
33

36
86
36
35
35
35
35
35
37
37
36
35

46 48
44 46
44 46
42 45
42 44
None
None
36 40
36 40
40 44
40 42
40 42

January, 1850...................
February.............................
March..................................
A p r il..................................
May.....................................
June....................................
July.....................................
August...............................
September..........................
October...............................
November...........................
D ecem ber..........................

32
34
32
30
28
29
28
29
30
31
31
34

36
86
35
33
34
35
32
33
32
34
34
36

65
65
65
65
70
70
70
70
70
65
65
65

75
85
80
80
85
85
80
80
90
80
75
76

50 56
52 56
52 55
52 55
52 55
48 50
48 50
44 47
44 47
40 45
40 45
37 42

33
33
31
30
30
31
32
33
33
34
36
37

34
34
32
32
31
32
33
34
34
35
38
38

4o 42
40 43
42 44
40 44
40 42
40 42
40 42
None
None
40 44
40 44
40 42

January, 1851...................
February............................
March..................................
A p r il..................................
M a y ....................................
Ju n e...................................
July.....................................
A u gu st..............................
September.........................
O ctober..............................
N ovem ber..........................
Decem ber............. .............

35 36
36 39
40 43
40 42
40 42
40 42
40 42
40 44
None
None
None
38 42

70
66
70
65
65
65
65
65
60
60
55
55

80
80
80
80
80
80
80
80
75
75
70
70

40
42
45
62
62
56
50
54
46
46
46
46

42
45
60
65
65
60
64
60
54
54
54
56

38
40
43
45
48
48
44
43
46
48
44
40

40
42
45
46
50
50
46
45
48
50
48
44

40 43
42 45
44 46
44 46
44 46
45 47
None
None
40 42
40 44
40 44
40 42

January, 1852...................
F e b r u a r y .......................
M arch.................................
A p r il..................................
M a y ....................................
J u n e...................................
J u ly ....................................
August .............................
September.........................
October...............................
November ..........................
December...........................

38 42
40 44
40 44
40 44
42 46
46 50
50 52
45 50
45 48
None
None
None

55
65
70
70
90
100
106
100
90
80
80
85

70
90
90
90
100
110
120
120
110
100
100
100

60 66
None
None
None
70 75
80 85
80 90
65 80
65 75
None
None
75 80

42
44
46
46
46
48
52
56
68
60
58
68

44
46
48
48
48
52
58
58
63
63
60
60

40 42
38 40
None
None
None
None
None
None
None
None
None
None




746

Statistics o f Trade and Commerce.
BACON.

BEEF.

PORK.

LARD.

CHEESE.

January, 1853...................
February...........................
March..................................
A p r il..................................
M a y ....................................
June....................................
July.....................................
August................................
Septem ber........................
O ctober..............................
N ovem ber..........................
D ecem ber..........................

Shillings.
None
50 a 52
50 54
50 54
50 52
50 52
None
None
None
None
None
None

Shillings.
95all0
97 112
94 n o
85 100
85 100
85 100
75 90
75 85
75 85
75 85
75 90
75 90

Shillings.
80 a 85
85 90
80 85
75 85
70 80
70 75
70 75
70 75
70 75
70 75
70 75
70 75

Shillings.
62 a 64
62 64
52 68
50 52
52 54
52 53
62 64
56 58
57 59
57 59
62 58
54 56

Shillings.
50 a 54
50 52
56 60
56 58
58 62
58 62
58 60
56 60
66 60
54 56
54 56
52 54

January, 1854...................
February............................
March..................................
A p r il..................................
M a y ....................................
Ju n e...................................
J u ly ....................................
August................................
September..........................
O ctober..............................
Novem ber..........................
D ecem ber..........................

44
45
42
42
42
42
40
36
36
36
35
33

46
48
45
44
46
46
42
40
40
38
40
38

80
85
100
105
105
105
105
105
110
110
115
120

100
no
120
120
125
125
125
125
125
125
135
140

65
75
75
75
75
75
75
65
50
40
45
50

70
80
80
80
80
85
80
80
70
60
70
76

52
55
52
62
48
46
50
52
50
50
52
50

54
57
54
64
50
48
53
54
52
52
64
52

50 56
58 60
None
None
None
None
64 58
50 56
50 56
56 60
56 60
50 54

January, 1856...................
February............................
March..................................
A p r il..................................
M a y ....................................
Ju n e....................................
J u ly ....................................
August................................
September.........................
O ctober..............................
Novem ber..........................
D ecem ber..........................

32 38
34 38
44 46
40 43
44 48
46 50
48 51
46 51
48 52
None
56 58
56 58

120
115
105
105
105
110
110
110
110
106
105
100

140
130
125
125
125
125
125
125
125
125
120
120

75
80
75
75
75
75
75
75
80
76
75
76

85
85
80
80
80
80
80
80
85
85
80
80

50
48
46
45
48
48
50
54
66
66
67
67

51
50
50
47
50
50
64
56

60
52
56
56
66
56
56
56
56
56
56
50

January, 1856...................
February...........................
M arch.................................
A p r il..................................
May.....................................
June..........................
July.....................................
August................................
September..........................

56
51
51
52
53
54
64
52
54

100
80
90
90
90
70
70
70
65

120
100
no
120
120
115
115
115
no

80
80
85
85
85
75
70
70
65

90
85
90
90
90
80
80
80
75

65
54
52
63
53
55
65

66
60
55
55
55
65

68

75
80

57
55
55
54
56
66
57
66
56

75

68
68

70
70

68

54
54
55
66
58
56
52
53
53

54
56
58
58
58
68

58
60
60
60
58
56
58
58
58
60
64
62
66

58
58

Cost of yield of hogs costing $4 per 100 lbs. net, including cutting, salt, curing,
and packages. Also, 1 per cent per month for 3 months’ cost of money and fire
insurance, ready for shipment at the packing-house :—
Long middles, boneless, rib in, or Cumberland, in boxes...........................
Lard, best kettle rendered, in tierces..........................................................
Hams, cured in dry salt, and packed in casks.............................................

6$c. a 6$*.
7|c. a 8c.
6fc. a 7c.

To which add freight (Northern route) to New York, $1 per 100 lbs. gross ;
marine insurance (if any) to New York, 1 per cen t; cost of putting on board at
New York.




Statistics o f Trade and

747

Commerce.

OUR TRADE WITH PORTUGAL.

The following statistics were compiled for the Merchants’ Magazine from the
latest official sources published. The commerce of the Portuguese possessions
has been estimated at three different periods as follows
1 8 4 3 ..........................................
1 8 4 8 ..........................................
1 8 5 1 ..........................................

Im portations.
1 2 , 3 1 4 , 5 1 1 :0 6 2
1 0 ,8 0 5 ,7 6 7 : 2 2 9
1 3 ,7 4 9 ,2 3 1 : 3 0 1

Exportations.
8 ,8 3 0 ,6 5 5 :6 3 9
1 1 , 3 2 4 , 0 2 4 :4 7 1
1 0 ,6 9 1 ,6 3 3 : 0 2 8

Total.
2 1 ,1 4 5 ,1 6 6 : 7 0 1
2 2 ,1 2 9 ,7 9 1 : 7 0 0
2 4 ,4 4 0 , 8 6 4 :3 2 9

EXPORTATIONS TO UNITED STATES.

F is h * .............................................................
Swine*...........................................................
Lard, salt provisions,* honey*...................
Leather, shoes*............................................
Silk fabrics....................................................
Wool, blankets*............................................
Linen fabrics,* sail-cloth, cordage.............
Cotton fabrics................................................
Corks, furniture,* firewood,* toothpicks*.
Chemicals*....................................................
Sweet-oil, gum copal....................................
Chocolate,* perfum es*................................
Sweetmeats*.................................................
Oranges, lemons, dried fruits*...................
Ironware,* shot*..........................................
Glass,* earthenware*..................................
Bricks,* plaster of Paris,* carved ston e..
Canes,* mats,* osiers, paintings...............
Specie.............................................................

Value.
5 5 0 ,2 3 5 : 2 0 0
47 :4 0 0
2 0 0 : 000
336 : 300
1 ,5 9 2 : 0 0 0
4 0 0 :0 0 0
800 : 800
5 0 9 :2 0 0
241 :0 0 0
7 ,9 9 5 : 8 9 0
1 ,1 6 2 :0 0 0
4 ,4 4 6 : 0 0 0
34 : 6 0 0
861 : 0 0 0
1 6 ,7 7 2 : 7 6 2
2 8 6 :4 0 0
5 9 0 :0 0 0
5 ,0 0 5 : 6 0 0
1 7 8 :4 0 0

Duties.
1 1 ,6 0 4 : 677
: 050
: 115
1 :8 1 4
7 :6 9 0
1 :3 8 4
4 : 382
2 :4 4 6
: 269
1 8 :7 6 1
1 8 :1 6 2
3 4 :9 3 1
: 276
4 :8 2 6
9 7 :3 1 4
: 760
: 662

4 ,4 7 0 :0 0 0

1 0 :9 7 1
4 :4 1 5
2 4 :6 9 6

5 9 6 ,0 6 4 :6 5 2

1 1 ,8 3 8 :5 0 1

STATES.

Wines, liquors, ice..........................................................
Whalebone, candles, fish, oysters...............................
Salt provisions, lard, butter, cheese...........................
Trunks, leather, stationery..........................................
Silks, ribbons, & c ...........................................................
Woolen fabrics...............................................................
Linen fabrics, sail-cloth, cordage................................
Cotton fabrics.................................................................
Books, maps, paper-hangings......................................
Lumber, casks, staves, spars, <fcc...................................
Chemicals, drugs, medicines........................................
Dyestuffs, paints, varnish............................................
Oil, ta r ............................................................................
Materia M edica..............................................................
Chocolate, mustard, leeches ...................................... .
Sugar, tea, coffee, cinnamon, sweetm eats.................
Tobacco.............................................................................
Flour, rice, sago, biscuit................................................
Fruits, seeds.....................................................................
Ironware, cutlery............................................................
Glass, earthenware.........................................................
Plaster o f Paris, bitumen, grindstones.......................
Musical and other instruments, clocks, fancy goods. .

Value.
57 : 5 0 0
5 ,7 7 7 : 4 0 0
5 ,6 7 1 : 0 8 0
11 : 9 0 0
4 7 : 000
7 4 :3 6 0
1 ,0 7 4 :2 0 0
8 ,0 9 0 : 8 9 0
176 :0 0 0
1 8 2 ,4 9 6 : 7 8 0
647 : 540
5 ,4 6 4 :7 0 0
1 2 ,9 7 2 : 0 0 0
82 :4 2 4
161 : 2 0 0
3 ,8 7 9 :1 8 0
5 9 ,0 7 6 : 0 0 0
6 2 ,1 1 0 : 8 4 0
1 3 5 :0 8 0
8 ,1 3 0 :8 0 0
3 7 4 :5 4 0
1 ,2 8 5 : 0 0 0
5 8 9 :9 1 0
1 0 ,8 8 7 : 6 0 0
3 6 4 ,1 7 3 : 7 2 4

* A rticles thus m arked w ere exported chiefly or w h o lly to California.




Duties.
1 8 5 :0 7 6
8 2 7 :3 3 1
1 ,1 8 7 : 3 5 5
3 : 242
1 7 :7 0 5
2 9 :6 0 2
2 2 4 :4 2 9
1 ,2 5 3 : 6 2 4
2 2 :5 9 0
6 ,0 3 7 : 9 2 8
1 2 3 :0 1 8
1 ,1 4 9 :6 1 3
2 ,3 0 5 : 4 4 6
6 :4 7 1
26 : 638
1 ,2 3 9 : 3 1 5
6 1 ,1 4 7 :5 0 0
1 1 ,4 5 1 : 62S
6 3 :0 3 8
1 ,4 5 3 : 0 0 0
203 : 080
6 : 066
143 : 986

7 8 ,5 4 8 :3 4 6

748

Statistics o f Trade and Commerce.
RE-EXPORTATIONS.

Whalebone and fish.........................................................
Salt provisions and candles............................................
Cotton, woolen, and silk fabrics....................................
Chemicals and medicines.................................................
O il..............................................; .....................................
Perfumes, condiments, die..............................................
Flour and r ice ..................................................................
Fruits, dry or preserved.................................................

¥ a iu e .

Duties.

12,635:000
6,352 :460
285 : 200
104:000
121,748:800
214:600
392 : 700
430 :750

63 : 564
22 :80 8
4 : 066
: 535
220: 609
3 : 965
3 : 365
4 :812

142,268:510

321 :269

The vessels entered and cleared in all Portuguese ports were, in 1851, as fol
lows :—
Portuguese...................................
Foreign........................................

Entered.

Tonnage.

Cleared.

Tonnage.

5,447
2,891

315,708
827,675

5,777
8,010

319,834
365,658

8,338

643,383

8.787

685,492

The American vessels entered and cleared at the different ports in 1851 were
as follows
Entered.

Tonnage.

Cleared.

9

22
82
4

2,549
660
4,067
25,030
524

6
2
20
86
11

120

32,830

Lisbon........................................................
O porto........................................................
Funchal (Madeira)....................................
Fayal and Flores.......................................
Other A zores............................................

3

Tonnage.

125

1,609
348
3,889
25,882
8,197
34,925

It may not be amis to remark that several of the above ports are Anglicized
on our maps ; as Lisboa, Fatal, San Miguel, and Porto ; o-porlo meaning simply
“ the harbor.” There is another port called Setubal, which is scarcely to be re­
cognized under our blundering version of St. Ubes.
PRICES OF PRODUCE AND MERCHANDISE AT CINCINNATI,

In the Merchants’ Magazine for November, (vol. xxxv. pages 608, 609,) we
published the average prices of butter, cheese, and coffee, on the last day of each
week of the year, commencing with September 5,1855, and ending August 27,
1856. W e now subjoin the average prices of flour, corn, wheat, and rye, for the
same time :—■
The following table shows the price of superfine flour at the close of each week
during the year :—
September 5 . . .
1 2 ...
1 9 ...
2 6 ...
October
3 ..
1 0 ...
1 7 ...
2 4 ...
8 1 ...
November 7 . . .
1 4 ...
2 1 ...
2 8 ...

January

1 2 ...
1 9 ...
2 6 ...
2 ...

..
..
..
..
..
..

6
6
6
6
7
7

..

8

..
..

8
7

..
..
..
..
..

8
7
7
7
7




00
25
50
60
60
25
10
65
00
10
00
95
10
00
76
50
50
25

January

9 ___
16___
23___
80___
February 6 ___
13___
20___
27___
March
5 ___
12----19___
26___
2 ___
April
9 ....
1 6 ....
23___
30___
May
7 ....

..
..
..

7
7
7

..
..
..
..

6
5
6
5

..

5

80
60
20
25
00
76
50
00
75
10
50
76
00
60
26
50
60
20

May

June

July

August

14...........
21 ______
28 ...........
4 .........
11...........
18...........
25...........
2 ...........
9 ...........
16.........
23 ...........
30.........
6 .........
18.........
20.........
27.........

5
5
5
5
5
5
5
5
6
5
5
6
6
5
5
5

25
35
30
30
85
00
10
50
15
80
40
10
05
50
60
85

749

Statistics o f Trade and Commerce.

The following table shows the price of mixed and yellow corn at the close of
each week during the year :
September 5 .........
12......... .
19.........
26.........
.
10.........
17 .........
24 .........
31.........
November 7 . . . .
14......... .
21.........
28.........
.
12.........
19.........
26.........
January
2 .........

55 January
55 !
55
55
55
55

9 .........
16.........
23.........
80.........

March
60
55
43
43
43
42
40
40

April

.
13.........
20.........
27.........
5 .........
12.........
19......... .
28......... .
o
9 ___
16.........
23.........
30.........

40
40
40
40
40
40

May

7 ...........
14.........
21...........
28.........
4 .........
i i .........
18.........
2 5 .........
2 .........
July
9 .........
16.........
23.........
30.........
August
6 .........
13.........
20.........
27.........

38
33
32
35
35
32

33
33
35
34
36
35
35
37
38
38
40
39
42
45
45
50
53

The following table shows the price of prime red wheat at the close of each
week during the year:—
September 5 ........... $1 15 lJanuary
12........... 1 21
19........... 1 22
26........... 1 30
October
3 .........
1 33 February
10 .........
1 40
17.........
1 50
1 65
24.........
31.........
1 65
November 7 .........
1 70
14.........
1 65
21.........
1 69
28.........
1 65 April
1 63
12.........
1 60
1 50
19.........
2 6 .. . .
1 50
January
2 .........
1 50 May

9 ........... $1 45 i May
16........... 1 35
23.........
1 35
30.........
1 40 June
6 .........
1 35
1 35
13.........
1 35
2 0 .........
27.........
1 20 July
1 14
5 .........
12.........
1 20
19.........
l 15
2 6 .........
15
9,
1 15 August
15
9 .........
00
16.........
10
23.........
10
SO.........
10
7 .........

14........... $1 20
21........... 1 10
28........... 1 10
4 ........... 1 10
11........... 1 05
18...........
95
25.........\
90
2 ...........
95
9 ........... 1 00
16........... 1 00
23 ........... 1 05
30 ........... 1 10
6 ........... 1 16
13........... 1 13
20........... 1 05
27.........
1 10

The following table shows the price o f rye at the close o f each week during
the y e a r:—
.
12.........
19.........
26 .........
October
3 .........
10.........
17.........
24 .........
31.........
November 7 .........
14.........
21. . . .
28.........
December 5 .........
12.........
19 .........
26 ......... .
January
2 .........




9 .........
16.........
23.........
30.........
February 6 .........
13.........
20.........
80
90
2 7 .........
90 March
6 .........
12.........
83
84
19.........
84
26.........
83 April
2 .........
83
9 .........
16.........
23___
75
75
3 0 ....
May
7 ....

60
60
60
65

January

75
75
70
70
75
75
75
75
75
68
65
65
65
60
62
62
60

65

May
June

July

August

14.........
21 .........
28 .........
4 .........
11.........
18.........
25......... .
2 .........
9 .........
16.........
23.........
30 .........
6 .........
13.........
20 .........
27 .........

62
65
60
62
64
62
65
65
65
61
61
62
65
67
78

86

750

Com m ercial R egu lation s.

EXPORT OF TEA FROM CHINA,

The following remarks on the trade of China with Great Britain and the Uni­
ted States were designed as a note for article on the Pacific Railway, (page 662,
line 27th from top,) but was furnished too late for insertion in its proper place :
The commerce between Great Britain and the United States, on one side, and
India, China, and the shores of the Pacific, is rapidly increasing. In 1846, be­
fore the discovery of gold in California and Australia, the number of tons which
cleared for India, China, and ports in the Pacific, was 608,515. Since that pe­
riod, in addition to the impetus given to commerce by the gold fields of Australia
and California, the shipment of tea from China has increased as follows:—
1849
1856
1849
1856

Pounds o f tea shipped from China to Great Britain...................
“
“
“
“
...................
“
“
“
United S ta te s..................
*•
“
“
“
.................

47,242,000
91,035,000
18,072,000
40,246,000

This vast increase explains the increasing shipments of silver to Asia. In
1789, an eminent shipowner estimated the consumption of tea in the United
States at one million of pounds per annum.

COMMERCIAL REGULATIONS.
KAPPELIN’S HYDR0STAT FOR WEIGHING.

The Moniteur Industriel (Paris) describes a new weighing instrument, which
has just been invented by Professor Kmppelin, and called by him the “ Ilydrostat.”
It is based on the same principle at Nicholson’s ./Urometer.
The
“ hydrostat” consists of a cylindrical case filled with air, hermetically closed on
all sides, and entirely immersed in a vessel containing water, where it forms, as it
were, a float. (In places in which the temperature is at freezing point, alcohol
must be substituted for water.) Two plated steel wires are connected to the air
case or float, and rise out of the water vertically. These wires are fixed to the
extremities of a horizontal beam, having at its center a rod, to which are sus­
pended two dishes, placed one over the other. One of these dishes is for the
weights which have been required to immerse the float; the other is intended to
hold the substances to be weighed. The instrument is made use of in the follow­
ing manner : First, the fixed point at which the horizontal beam is stopped must
be noted ; then the substance to be weighed is placed on the proper dish, and
weights removed from the other dish till the instrument returns to the original
point of immersion. The weights removed will indicate the weight of the sub­
stance weighed. The precision of the instrument will depend on the thickness of
the steel wires, as the water displaced by them regulates the last and smallest
fractions of the course of the float. The nicety of the instrument arises from
the absence of all friction except that from the contact of the water against the
surface o f the float. It is, therefore, especially applicable for weighing precious
stones, &c. Changes of temperature affect the volume of the float, as well as the
density of the water; the “ hydrostat” must, therefore, always be brought back
to the fixed point, whenever it has departed from it. The instrument has been
applied with success by Messrs. Haussman, Jordan, H im & Co., of Colmar,
for weighing cotton in the manufacture of table-cloths.




.

Commercial R egulations.

751

PILOTAGE REGULATIONS OF BELFAST, IRELAND.

The Mercantile Journal, published under the auspices of the Belfast, Ireland,
Board of Trade, furnishes the new tug and pilotage regulations recently adopted
by the Belfast Harbor Commissioners. The rules are simple, the whole alteration,
as we learn from our cotemporay, made from the previous system, consists in
making pilotage optional instead of compulsory, when a vessel is towed by a
tug-steamer. W e copy the regulations as printed by the Board :—
NEW REGULATIONS RESPECTING PILOTAGE.

1. A ll inward-bound vessels, when hailed by the pilot smack, must make their
election to be either tugged or piloted, under a penalty not exceeding £5.
2. Every master or owner of a vessel, sailing up or down the channel, shall be
at liberty to engage either a pilot or tug-boat at his own option.
3. In case a vessel is brought up or down the channel by a tug-steamer, no
charge for pilotage shall be made, unless a pilot has been employed ; but -Jd. per
ton is payable for lights if a pilot is not employed.
4. N o vessel inward-bound shall be at liberty to come up past the lighthouse,
at Holywood, without being in charge of either a pilot or tug-boat; and any
vessel, violating this rule, shall be charged double pilotage.
5. The master may have the assistance of a pilot in addition to a tug-boat;
but, in such case, the pilotage must also be paid as hitherto.
6. N o pilot is to be put on board an inward-bound vessel, whilst sailing up the
lough, without the consent of the master, unless such vessel perseveres in sailing
up the channel beyond the Holywood lighthouse, when it becomes imperative to
take a pilot or come to anchor.
It is the duty of a pilot, on boarding a vessel, to present a copy of these rules
to the master, and we understand they have been in force for some time, and that
much satisfaction has resulted from the new and improved class of tug-boats at­
tracted to this port by the employment afforded under the liberal invitation of
the Commissioners. W o should be sorry if the income hitherto derived by our
pilots be interfered with— a result, we believe, more apprehended than yet realized ;
but where a great public advantage is to be attained, personal and individual
interests must frequently suffer. Should the emoluments of these old and
weather-beaten servants of the public be ultimately reduced, we are sure the
Commissioners will be ready and willing to consider and amend such injury, by
whatever means may be in their power, consistent with their duty to the public,
and the legitimate encouragement of the town and trade of the port.

REGULATIONS OF THE JAPAN TRADE.

According to the Moniteur de la Flolte, the last accounts from the Chinese
seas record the highly interesting fact, that “ the Emperor of Japan, being
anxious to adjust various questions connected with the recent treaties he has con­
cluded with the several governments of Europe and America, held on the 22d of
June, 1856, at Jeddo, the capital of his empire, a solemn assembly of the princi­
pal lords and most influential personages of his court. It was decided at the
meeting that two ports of the empire, those of Nangasaki and Hakodadi, should
be open to the vessels of all nations. There they might repair, renew their pro­
visions, establish depots of coal, &c. The other ports of the empire, moreover,




752

C om m ercial R egulations.

are to be accessible to vessels in distress, which may take refuge in them, but will
have to put to sea the moment the danger is over. N o foreigner to be allowed
to penetrate into the interior of the country without a special permission from the
chief o f the State. N o decision had yet been come to with regard to the com­
mercial question. The right of trading with Japan is still exclusively main­
tained in favor of the Dutch and Chinese, who have long possessed it on very
onerous terms, having but one market open to them, that of Nangasaki. The
new policy adopted by the government of Japan will be productive of incalcula­
ble results. Hitherto no foreign vessel could enter the ports of the country to
refit or renew its provisions. The last decision of the court of Jeddo accordingly
constitutes a great progress. Should China, Cochin-China, the empire of Asam,
and all the other neighboring States follow the example of Japan, the intercourse
between the extreme east and the rest of the world would be completely
changed.”
DECISIONS OF THE ATTORNEY-GENERAL OF THE UNITED STATES.
■Washin gton , Thursday, O ctober 2*, 1856.

1. Shipmasters in foreign ports are subject to the requisition of the consul to
take on board and carry to the.United States distressed mariners, but not seamen
or other persons accused of crimes, and to be transported to the United States
for prosecution.
2. Officers and crews of the public ships of the United States are not entitled
to salvage, civil or military, as o f complete legal right. The allowance of salvage,
civil or military, in such cases, like the allowance of prize money on captures, is
against public policy, and ought to be abolished in the sea service as it was long
ago in the land service.
3. District Courts of the United States have power to provide specially for
the confinement of persons convicted by Federal Courts, if refused admittance
into the jails of the State. In such cases the persons may be confined in the
penitentiary of the District of Columbia.
4. There is punishment by statute for the act of a shipmaster in unlawfully
putting a seaman on shore in a foreign p ort; but not for an assault on a seaman
on board ship or otherwise in a foreign port.

MEASURES OF THE ZOLLVEREIN,

The Zollverein conference, now continuing its deliberations at Weimar,
appears to have adopted, or rather to have determined, two or three measures
which may be regarded as important to external commerce. The one is a resolu­
tion to reduce the import duties on rice ; the second, to reject the plan for
augmenting those on tobacco, home-grown or foreign; and the third, not to
reduce the duties on iron, as specially proposed by the Prussian government, by
that of Brunswick, and one or two others. The opposition to all reductions
principally emanates from Midland and Southern States, which are doggedly
wedded to protective systems, and are as jealous of Prussian industry as of those
of foreign nations.




753

N autical Intelligence.
WEIGHTS AND MEASURES IN ILLINOIS.
AN

ACT

OF

THE

LAST

ILLINOIS

LEGISLATURE.

Be it enacted, <fc., That whenever any of the following articles shall be con­
tracted for, or sold, or delivered, and no special contract or agreement shall be
made to the contrary, the weight per bushel shall be as follows :—
Wheat................ Ib9.
Shelled c o rn ...........
Corn in the e a r .. . .
R y e ..........................
Oats..........................
Barley......................
Irish potatoes..........
Sweet potatoes.. . .
White beans...........
Castor beans...........

60
56
70
66
32
47
60
55
60
46

Clover seed . . . .lbs.
Timothy s e e d .........
Flaxseed.................
H emp-seed.............
Blue-grass seed. . . .
Buckwheat.............
Dried peaches........
Dried apples...........
Onions.......................

60
45
56
44
14
52
33
24
57

S a lt ................... lbs.
50
Stone coal..............
80
Malt...............................
38
Bran..............................
20
Turnips.....................
55
Plastering hair........
8
Unslacked lime. . . .
80
Corn meal..............
48
Fine s a lt......................
55

NAUTICAL IN TELLIG EN CE.
EMERSON'S WINDLASS FOR SHIPPING.

This is an iron windlass, worked by a capstan placed above it on the topgallant
forecastle. It has two purchases, one quick, for ordinary work, and the other
slow, when great power is required. The bight of the chain passes over the ends
of the windlass into a notched groove, so that every link as it is hove in is secured
beyond the possibility of surging or running out. But should it be required to
let the chain run, the windlass can be ungeared in a second, and left to revolve
forward, carrying the chain with it until the required scope has been paid out.'
The windlass is always under perfect control. N o matter how rapidly the chain
may run out, it can be stopped, and that, too, either gradually or at once. The
advantages of this windlass over every other now in use, are— 1st. Increased power,
by which one man performs as much labor as three can with the common wind­
lass. 2d. Perpect control of the chain under every circumstances. 3d. Double
purchase, one independent of the other. 4th. Compactness, as it occupies less
than half the space required for the common windlass; and 5th, it is very
strong.
It is now applied to the steamer R. B. Forbes, and on Saturday was tested by
several severe experiments, and found perfect in every one. Com. Stringham,
Capt. Pearson, several underwriters, and others interested in shipping, went down
the bay in the steamer, and had the windlass applied in every conceivable circum­
stance in which a ship could be placed, and the anchor, in every case, was hove up
with ease. Captain Morris, of the steamer, for whose opinions in matters per­
taining to shipping we have the highest respect, says, that “ it is the best windlass
he has ever seen.” W e may add that its cost is little, if any, greater than that
of the common windlass. W e unhesitatingly recommend it to our ship-owners.
Com. Stringham said he would have it on board the first vessel built at the navyyard.— Boston Atlas.
NEW MODE OF COPPERING VESSELS.

English papers state that M. Oudry has made preliminary experiments for ap­
plying electrotype on an enormous scale— no other than the coppering of wood
and iron ships, of whatever tonnage. The vessel should be coated with an ad­
herent species of varnish, then placed in a dock to which the cupriferous solution
would be admitted ; and then by a series of plies, the requisite thickness of copper

VOL. xxxv.— no . vi.




48

754

N a u tic a l Intelligence.

would be deposited in from eight to ten days. The advantages promised are
diminution of cost and perfection of result; for, there being no joints in the
copper, destructive animals could not penetrate, neither would there be such an
accumulation of weeds on the bottom as now takes place.

VOYAGE OF A BOTTLE— THE CURRENTS OF THE OCEAN.

W e copy the following letter to Lieutenant Maury from the Nautical Intelli­
gencer, of November 13, 1856.
A b a x sa s , T e x a s , Oct. 25.
S i r :— The

inclosed memorandum came ashore on the gulf beach yesterday
about noon, in a wine bottle. It landed some six or seven miles northwest of the
lighthouse at this pass ; wind at the time S. E. Supposing it might be of
interest to you, I take the liberty of forwarding it, with my respects.
Yours, &c.,
D . M. H A S T IN G S , Postmaster.
Lieutenant M aury, N ational Observatory, W ashington.

“ Ship Admiral, for London, Samuel Pistren, Commander. On the equator,
Long. 30 deg. 45 min., W . ; sixty-five days out from Melbourn. A ll well.
“ F e b r u a r y 17,1856.”
PUTTING TALLIES ON THE CURRENTS OF THE SEA.

This bottle was afloat 252 days, and performed a voyage measuring, according
to the shortest route, a distance of at least 4,950 statute miles. This is another
illustration of the fact that the Amazon, as well as the Mississippi, casts a drift into
the Gulf of Mexico. This bottle passed the offing of the Amazon on its way,
traveled across the Caribbean Sea, and entered the Gulf of Mexico by the Yuca­
tan Pass.
Could this bottle speak, it would have quite an interesting tale to tell. It would,
we imagine, commence somewhat in this wise :— “ It was Sunday ; the crew were
dressed in their best clothes, and all hands were in the highest spirits, for the ship
had within the last 65 days performed the remarkable feat of running about
12,000 miles. She came flying around Cape Horn before the ‘ brave west winds’
of the southern hemisphere. Another three weeks of such winds and she would
be in the London docks. A t dinner I was emptied to a toast of sweethearts and
wives, and after three times three for old England and a speedy run, launched
overboard.”
LATITUDE AND LONGITUDE.

Mr. Ayling recently delivered a lecture on Longitude on board ship Patrick
Henry, Captain Hurlburt. The portions of the lecture are thus briefly stated by
a writer in the Herald, who listened to Mr. Ayling's lecture. He says:—
“ Mr. Ayling clearly defined the principle of his newly-invented solameter,
giving satisfaction to all, and eliciting the wonder and admiration of every cap­
tain and scientific man present. The solameter, it appears, gives two views— the
real and its shadow— the shadow separating and changing its position as we alter
our meridian, the difference so changed being equal to the distance traveled, and
is indicated on the vernier scale. Mr. Ayling had two large diagrams of the
earth, upon which were drawn the degrees of latitude and longitude— an imagin­
ary line or visible horizon with the secant of the earth’s exterior— the angle of
which, v iz .: the dip or depression being the true demonstrated longitude, being in
verity the difference of two meridians. Mr. A . then explained his mode of
obtaining altitude for latitude without the aid of a marine horizon, hitherto con­
sidered an impossibility, but which he has undoubtedly accomplished, and for
which he received far greater applause than even his longitude.”




Statistics o f Agriculture, etc.

755

LIGHTHOUSE AMD BEACON ON WANGEROOGE ISLAIVD.
WEST SIDE OF THE ENTRANCE TO THE RIVER WESER.

Official information has been received at this office, through the Department
of State, that the government of Oldenburg has given notice that a light would
be exhibited on the 1st of October, 1856, from the new tower recently erected on
the eastern extremity of the Island of Wangerooge, in lat. 53° 47' 26" north, long.
7° 54' 14" east of Greenwich, as a substitute for the old light at that place. The
light is a fourth-order revolving one, on the system of Fresnel, showing a bright
flash once in every two minutes ; it is elevated one hundred feet above the level
of the sea, and should be seen, under ordinary states of the atmosphere, fourteen
nautical miles. A bacon is erected on the sand hill 1,700 feet E. by N. from the
new tower, making the lighthouse, beacon, and Key buoy (the first buoy) in range.
The lightship, No. 1, in the Weser, is placed E. £ S. from the beacon, in range
with the beacon and the large church steeple on the western part of the island.
By order of the Lighthouse Board,
THORNTON A. JEN KIN S, Secretary
T b e a sf b y D epa rtm e nt , O ffice L ighthouse B o a b d , )
W ashin gton , October 27,1856.
J

GAY HEAD LIGHTHOUSE, MARTHA’S VINEYARD SOUND, MASS.

In conformity with the notice dated July 22, 1856. the new light at Gay Head
will be exhibited at sunset on December 1st, 1856, and will be kept burning during
every night thereafter from sunset to sunrise. The focal plane of the light is 43
feet above the ground, and 170 feet above the level of the sea. The tower is of
brick, colored brown, and stands about 12 feet from the center of the rear of the
dwelling-houses, with which it is connected. The lantern is painted black. The
dwelling-houses are brick color. The illuminating apparatus is a revolving
Fresnel lens of the first order, showing a bright flash of the natural color every ten
seconds. The light should be visible in good weather, from the deck of a vessel,
19 nautical or 21 statute miles. The light now shown at Gay Head will be dis­
continued from the above-named date, and in the course of the next season the
old tower will be removed. By order of the Lighthouse Board,
W . B. FRAN KLIN , L. H. Engineer 1st and 2d Districts.
B oston, M ass., Oct. 22,1856.

STATISTICS OF AGRICULTURE, &c.
PROFITS OF PEAR CULTURE.
BY ED G AR SANDERS.

Albany has long been noticed for its fine Gansel’s Bergamot Pear. Dennison’s
old farm on Elm-street, and the garden from which we write, have each some fine
specimens of this tree, and those of the latter evidently forty or fifty years old.
Besides these, many other gardens contain a few trees of moderate growth.
Those under our charge are nine in number, five of which have a circumference
of from four feet six to Jivefeet, just above the graft, which is easily discernible
from the stock, being from nine inches to a foot larger round, and of very unequal
surface. The remainder are much smaller and apparently planted more recently.
Altogether these nine trees have borne the past season seventy-five bushels of
gathered fruit, slightly below the medium size of the past three years.
In 1853-4, these trees were sadly cut up with the “ fire blight,” which did not,
however, seem to have the slightest effect in ripening the fruit, except on those




156

Statistics o f Agriculture, etc.

branches killed outright. Last year the blight was light, while this year there
were but few branches affected, and that early in the season, which were, as in the
before-mentioned cases, cut away as fast as shown. Besides these nine trees of
Bergamot, there are seven trees of White Doyenne or Virgalieu, which this year
bore some thirty-one bushels of tolerably fair fruit, having been the three pre­
ceding years badly subject to mildew. (?) This makes a total on the sixteen trees
of 106 bushels of fruit.
Seventy-five bushels of these were sold nearly as they grew on the trees (that
is without picking out inferior fruit) for $300, or four dollars per bushel. The
remainder being reserved for home use and presents, which, if valued at the above
rate, would swell the amount to the large sum of four hundred and twentyfo u r
dollars. This gives an average value of $26 50 per tree, which, if multiplied by
one hundred, the usual number reckoned to the acre for standard pears, we have
the respectable sum of $2,650 as the worth of an acre of pear trees at the same
rates. I f we take it another way, that is, according to the value of an acre of
trees yielding similar to one of the Bergamot trees, thirteen bushels to the tree,
$52 as its worth, and one acre $5,200.
It will be readily seen that half such crops would be large returns, and these
old trees never fail of a fair crop. Both kinds have attained nearly the same
altitude, the highest of which are some thirty-two feet.
It is somewhat singular that the bulk of the Bergamot Pears have to be con­
sumed in Albany, from the strange fact that New York does not appreciate this
luscious fruit, but will take the Yirgalieu at any price.

THE CULTURE OF THE GRAPE, AND WINE MAKING.

The American Farmer says, that while the making of the best wine requires
much care, skill, and experience, there is no such mystery in the art as may not be
readily overcome by ordinary intelligence, and a due degree of attention. W ell
ripened and sound fruit is essential for the best quality of wine. The pressing is
a simple business. After pressing, success depends upon the proper fermentation
o f the juice. New, clean casks, soaked with clean water for a week, or casks
used for wine previously, but thoroughly cleansed by scalding with water, and
fumigating with sulphur. Into these the juice is put until within six inches of
the bung, and the bung put in loosely, so that the gas can escape. In two or
three weeks, usually, the fermentation will cease, and the wine become clear. The
Casks are then to be filled, and the bung tightened. A second, but more moderate
fermentation, takes place late in the spring. It is better not to bottle for a year
or longer after the wine is made. It is, after this, fit for use and sale. Where
the vine is extensively cultivated, wine-houses and cellars are established, and it
is better that the small cultivator should sell his newly passed juice to the regu­
lar wine-maker. That the cultivation of the vine may prove profitable in the
United States, there is little doubt. The average annual yield of the crop in the
neighborhood of Cincinnati is stated at 200 gallons of the juice to the acre. This
is worth at the vineyard 80 cents to $1 per gallon ; the wine-maker purchasing
and making a profitable business of preparing it for market— a profit which very
many cultivators may secure to themselves by exercising the requisite skill and
care in the manufacture of the wine.




75 7

Statistics o f Agriculture, etc.
PRICES OF WHEAT IIV ENGLAND,

Below will be found a table of the annual average prices of wheat in Great
Britain for 214 years— that is to say, back to the times of Cromwell. The table
presents many curious facts. The average of the past year, says the Economist,
has been higher than in any year since 1819, and is about the same as in 1796, when
it was higher than it had before been during 147 years, that is to say, back to
1648. A point of interest in the table is the continual fluctuations, showing a
gradual rise through several years to a maximum, and a more rapid decline. It
is to be remarked that the rise generally continued five years. These periods of
rise were as follows:—
S h ill in g s .

S h ill in g s .

S h ill in g s .

S h ill in g s .

1 6 5 4 -5 9 ...

23

29

38

41

1 6 6 6 -6 9 ...

32

32

35

39

1 7 0 6 -1 0 ...

23

25

36

69

1 7 3 2 -3 5 ...

23

25

30

38

S h ill in g s .
57

1 7 5 0 -5 3 ...

28

34

37

39

26

34

36

41

1 7 6 9 -7 4 ...

40

43

47

50

51

1 7 7 9 -8 3 ...

33

35

44

47

52

48

1 7 8 7 -9 0 ...

38

41

45

51

64

1 7 9 1 -9 6 ...

41

43

49

52

75

1 7 9 8 -0 1 ...

51

69

113

119
106

1 8 0 7 -1 0 ...

75

81

97

65

78

96

68

69

1 7 6 1 -6 5 ...

1 8 1 4 -1 7 ...

S h ln g s .

..

1 8 2 2 -2 5 ...

44

53

63

68

1 8 3 5 -3 9 ...

39

48

55

64

70

1 8 4 5 -4 7 ...

50

54

69

1 8 5 1 -5 5 ...

38

41

53

72

74

52

78

75

The exorbitant prices of the periods 1796 and 1810, were those of paper money.
It is observable that the rise commenced always after an extreme fall, and continued
always four years, with the exception of 1845-47, when the price culminated in
the third year. It might be curious to investigate in how for this short period
might be due to free trade in corn. Up to the close of the last century not only
was England, as a whole, an exporter of wheat, but the interior communication
was so difficult as to make prices far from uniform. Indeed, in some counties
crops would rot on the ground, while in others famine prevailed, yet transportation
was almost impossible. Hence, in the first century of the table, prices were not so
regular, but prices touched lower points than in the present century. It is re­
markable that 1851 was the lowest average year of the present century, and it
was in that year the full effect of the high prices of 1847— followed by the
abolition of the corn duties— was felt. The table shows that in the five years,
1847 to 1851, prices fell annually 69s. to 38s. In the five years which have since
elapsed, they rose annually 38s. to 74s. This prolonged rise is doubtless due to
the influence of war, which has cut off many of the supplies before depended
upon to check an extreme advance. That difficulty has now passed away, and
the prolonged high prices must have exercised their usual effect in stimulating
production, and, consequently, bringing about that decline in prices which has
inevitably, under all circumstances, succeeded a rise. It will be seen, on inspect­
ing the table of annual prices that the most rapid fall has always followed the
highest prices, and this result has been more marked as communication has become
more prompt and duties have been removed. It follows inevitably from this table
of over two centuries of experience that the present is the year of culminating
prices, and that the next five years will be of falling prices, in relation to other
commodities. The apparent decline will be counteracted by the decline in the
value of the gold currency, which must now probably become more marked.
When the mines of America were discovered in 1520, there was no apparent
effect upon prices until the close of the century. Prom 1570 to 1640 the depre­




\

758

Statistics o f Agriculture, etc.

ciation of silver was marked, and it then ceased.
wheat is as follows :—
s.

Average 12 years to 1451...........
1497...........
“
1560...........

21
14
10

The evidence in the price of

d.

s.

8 | Average 12 years to 1601...........
0
“
20
“
1621...........
6 |
“
16
“
1636...........

47
41
50

d.

7
7
0

Thus the value of wheat, under the influence of enhanced supplies of silver,
quadrupled from 1560 to 1640, from which time (as will be seen in the table of
annual averages) the effect ceased. It is now highly probable that the effect of
gold will begin to manifest itself, and the prices of wheat will take a higher level,
and this will apparently counteract the decline which should result naturally from
the high prices that have prevailed, and the stimulus those prices have given to
production. Hence, it follows, that two powerful elements of prosperity are
coming into operation, v iz.:— abundance of gold and relatively cheap food.
YEARLY

AVERAGE

P R IC E

OF W H E A T

IN

GREAT

B R IT A IN

FROM

1641

to

1856.

d

Y ear.

8.

d.

Y ear.

8.

d.

Y ear.

s.

d.

Y ear.

S.

d.

Y ear.

s.

1641

57

1

1685

41

5

1729

41

7

1773

51

0

1816

78

6

1642

60

2

1686

30

2

1730

32

5

1774

52

8

1817

96

11

1648

59

10

1687

22

4

1731

29

2

1775

48

4

1818

86

3

1644

61

3

1688

40

10

1732

23

8

1776

38

2

1819

74

6
10

1645

61

8

1689

26

8

1733

25

2

1777

45

6

1820

67

1646

42

8

1690

30

9

1734

30

9

1778

42

0

1821

56

1

1647

65

6

1691

30

2

1735

38

2

1779

33

8

1822

44

7

1648

75

6

1692

41

5

1736

35

10

1780

35

8

1823

53

4

1649

71

1

1693

60

1

1737

33

9

1781

44

8

1824

63

11

1650

68

1

1694

56

10

1738

31

6

1782

47

10

1825

68

6

1651

65

2

1695

47

1

1739

34

2

1783

52

8

1826

58

8

1652

44

O

1696

63

1

1740

45

1

1784

48

10

1827

58

6

1653

31

6

1697

63

4

1741

41

5

1785

51

10

1828

60

5

1654

23

1

1698

60

9

1742

30

2

1786

38

10

1829

66

3

1655

29

7

1699

66

10

1743

22

1

1787

41

2

1830

64

3
4

1656

38

2

1700

35

6

1744

22

1

1788

45

0

1831

66

1657

41

5

1701

33

6

1745

24

5

1789

51

2

1832

68

8

1658

67

9

1702

26

2

1746

34

8

1790

64

9

1833

52

11

1659

68

8

1703

82

0

1747

30

11

1791

41

7

1834

46

2

1660

60

2

1704

41

4

1748

32

10

1792

43

0

1835

39

4

1661

62

2

1705

26

8

1749

32

10

1793

49

3

1886

48

9

1662

65

9

1706

23

1

1750

28

10

1794

52

3

1837

55

10

1668

50

8

1707

25

4

1751

34

2

1795

76

2

1838

64

4

1664

86

0

1708

36

10

1762

37

2

1796

78

7

1839

70

6

1665

43

10

1709

69

9

1753

39

8

1797

53

9

1840

66

4

1666

32

0

1710

69

4

1754

39

0

1798

51

10

1841

64

6

1667

32

0

1711

48

0

1755

30

1

1899

69

0

1842

57

5

1668

35

6

1712

41

2

1756

40

1

1800

113

10

1843

50

2

1669

39

5

1718

45

4

1757

53

4

1801

119

6

1844

51

3

1670

87

0

1714

44

1671

37

4

1715

38

9
o

1758

44

■j

1802

69

10

1845

60

y

1759

35

3

1803

58

10

1846

54

9
5

1672

36

5

1716

42

8

1760

32

5

1804

62

3

1847

69

1673

41

5

1717

40

7

1761

26

9

1806

89

9

1848

60

6

1674

61

0

1718

34

6

1762

24

8

1806

79

1

1849

44

6

1675

57

5

1719

31

1

1763

36

1

1807

75

4

1850

40

4

1676

83

9

1720

32

10

1764

41

5

1808

81

4

1861

38

7

1677

37

4

1721

33

4

1765

48

0

1809

97

4

1852

41

0

1678

52

5

1722

82

0

1766

43

1

1810

106

6

1853

63

3

1679

63

4

1723

30

10

1767

47

4

1811

95

3

1864

72

7

1680

40

0

1724

32

10

1768

63

9

1812

126

6

1855

74

9

1681

41

5

1725

43

1

1769

40

7

1813

109

9

1856

73

0

1682

89

1

1726

40

10

1770

43

6

1814

74

4

1683

86

6

1727

87

4

1771

47

2

1816

65

7

1684

39

1

1728

48

5

1772

50

8




759

Statistics o f Agriculture, etc.
THE CULTIVATED AND UNCULTIVATED LAND IN IRELAND,

W e learn from the Belfast (Ireland) Commercial Journal, that the Census
Commissioners have just issued their sixth and concluding series of the census
returns. W e condense from the returns as given in the Journal, the following par­
ticulars respecting the agricultural and domestic progress of Ireland :—
The number of acres cultivated and uncultivated in the years 1841 and 1851
compare as follows :—

,-------------- ARABLE.-------------- ,
1841.
Leinster...................................
Munster....................................
U ls te r......................................
Connaught................................

3,961,188
3,874,613
3,407,539
2,220,960

Total...............................

13,464,300

1851.
4,031,717
4,310,452 _
3,994 259
2,460,153
14,803,581

,-------UNCULTIVATED.-------,

1841.

1851.

731,886
1,893,477
1,764,370
1,906,002

665,997
1,484,843
1,198,797
1,674,347

6,295,735

5,023,984

These figures speak most favorably for the industry of the people within the
ten years ; and as the returns are continued to 1854, we find that the work of
bringing waste lands into cultivation proceeds in a most gratifying manner. The
decrease in the proportion of waste or uncultivated land since 1851 will be seen
from the following table:—

1851.

1851.

US
QO

1851.
Leinster....................... ...........
Munster....................... ...........
U ls t e r ......................... ...........
Connaught................... ...........

698,212
1,520,671
1,258,422
1,732,187

665,071
1,486,470
1,263,961
1,618,572

636,760
1,396,940
1,211,619
1,584,664

640,119
1,410,193
1,237,018
1,564,468

Total................... ...........

5,209,492

5,034,074

4,829,983

4,851,793

The total area of Ireland is 20,811,774 statute acres, and the proportion under
cereal and other crops, in 1851, was 28.16 per cen t; grass, 42.04 per cen t; woods
or plantations, 1.47 per cent; fallow, 1.47 per cent; and under bog or waste,
24.14.
The improved status of the people is best ascertained by reference to the class
of dwellings occupied by them at the decennial periods above named. The Com­
missioners have divided the houses of the country into four classes. The fourth,
or lowest class, comprises mud cabins of one room ; the third, mud cottages of
more than one room ; the second, farm-houses, or in towns, houses having from
five to nine rooms and windows ; and the first or highest class, all houses of a
better description than those already specified. The houses of the first class had
increased from 40,080, in 1841, to 50,164, in 1851 ; those of the second class had
increased from 264,184 to 318,758 ; the third-class dwellings increased from 533,297
to 541,712 ; and the number of the one-room mud cabins, which stood at 491,278,
in 1841, fell to 135,589, in 1851, showing that within this period fully 355,689 of
those wretched hovels disappeared from Ireland. The decrease was greatest in
Ulster, and least in Leinster. This shows that the advancement of the popula­
tion in better house accommodation has been most satisfactory, notwithstanding
the great diminution caused by famine and emigration. The returns of education,
and of the numbers of persons not dependent on manual labor for support, also
show considerable increase.
It appears by one of these tables that the inhabitants of Ireland have, by emi­
gration, decreased by 475,102 persons from the 30th March, 1851, to the 31st




I

760

Statistics o f Agriculture, etc.

December, 1855, so that at the present time there are, probably, not more than
six million people in Ireland altogether; and as emigration is still going on with
considerable activity, a farther important diminution in our population may be
looked for, ere the tide again turns in our favor, as turn it must, for the rich and
fertile soil of the Emerald Isle contains a mine of exhaustless wealth for genera­
tions yet unborn. Already the effects of this diminution in the population is be­
ginning to be seriously felt in the scarcity of labor and wages, which have been
gradually advancing, for all classes o f workmen, and it would seem, are destined,
ere no very distant period, to be placed on an equality with those of the sister
kingdom.
_The morale of these comprehensive and elaborate tables is, that the potato
disease, which in 1847, was considered to have been sent as a judgment against
this devoted country from an offended God, has, under His inscrutable and allmerciful providence, turned out its greatest blessing. The Encumbered Estates
Court— one of the rich fruits of this visitation— has been the happy means of
relieving the country from a pack of insolvent landlords and useless drones, who
for centuries have hung like a night-mare over the land.
Judging of the future, says our cotemporary, from the experience of the last
two or three years, we have good reason for anticipating a glorious regeneration
for Ireland, ere another decepnial period has passed away.

GRAIN ELEVATORS IN BUFFALO.

There are already ten grain elevators in Buffalo, with power to raise from
2,000 to 2,500 bushels per hour, and to store from 80,000 to 270,000 bushels
each. Their aggregate capacity is 1,475,000 bushels of grain. The Buffalo
Commercial Advertiser, referring to this subject, says :—
“ W e learn that excavations for a new elevator on the west side of the creek,
opposite the custom-house, have been commenced, and considerable progress al­
ready made. The plan and drawings of the building are nearly completed. It
is designed to be of the capacity of about 500,000 bushels, and to have two ele­
vators, one on the creek facing east, and one on the cut facing west, each capable
of raising 4,500 bushels per hour. It will be eventually walled in with brick.
The elevators will, of course, be able to unload two vessels at a time, and in ad­
dition to the usual facilities for loading canal boats, a slip for boats is arranged
under each elevator, whereby boats can be run in and loaded while vessels are un­
loading. This elevator, together with the one building on Peck-slip, opposite the
the foot of Main-street, will add 900,000 bushels to the capacity of the elevators
of the harbor, making an aggregate of 2,400,000 bushels. W e also learn that
there is a proposition to build another of brick on the north side of Peacock-slip,
Erie Basin, but the project is not yet definitely determined upon. The bins of
the Dart Elevator, which are now able to hold 150,000 bushels, are in the process
of enlargement, in order to make their practical capacity 175,000.”

PROFITS OF GRAPES.

In the neighborhood of Cincinnati there are more than two thousand acres of
grapes. The profits per acre average, taking one year with another, about $300
per acre. Much, of course, depends on management. The cost of planting
ranges from $100 to $300 per acre. The expense with ordinary land need not
exceed $150 per acre. When trenching machines come into use on land clear of
stones, the cost of planting will be materially reduced. Better profits are made
on the grapes sold in the market than on those used for wine.— Pittsburg Dispatch.




761

Statistics o f Population, etc.

STATISTICS OF POPULATION, &c.
THE PROGRESS OF POPULATION IN MAINE,

The State o f Maim infers from the data below, that the principal increase in
the population of that State has been in the railroad towns, rather than along the
seaboard. The large vote cast in Maine at the election in August, 1806, is an
interesting fact, showing, as it does, the great progress of Maine for the last few
years. W e quote what follows from our Portland cotemporary :—
The aggregate vote for Governor exceeds 121,000, or 30,000 more votes than
were thrown at the State election of 1840. There was a full vote at that time,
and in November following, more so than at any election since that year. The
population of Maine in 1840, according to the returns of the United States
census, was 501,706. The vote thrown for Governor in that year was 91,179. Of
this number, 45,574 were for Kent, and 45,507 for Fairfield, and 98 scattering.
Gov. Kent failing of an election by 31 votes. In November of that year Harri­
son had 46,612 votes to 46,201 for Van Buren, or a majority of only 411 votes
in a ticket of 92,813.
The canvass of 1840 was, if possible, more exciting than that of 1856, and
called out an equally full vote in proportion to the number of voters in the State.
With a population of 501,706 in 1840, we threw for President 92,813 votes. A s
we threw rising 121,000 votes in 1856, we can fairly estimate at this time, allow­
ing the same ratio of votes to inhabitants, a population of 665,000 persons.
The population of Maine at different periods has been as follows :—
1790.................................................
1800................................................
1810.......................................................
1820.......................................................
1830.......................................................
1840.......................................................
1850.......................................................

96,540
151,719
228,705
298,335
399,995
501,793
583,656

57 per cent in 10 years.
52
“
30
“
“
33
“
“
25
“
“
17
“
“

Estimating the population at 665,000, it gives an increase of 82,000 in six
years, or more that 14 per cent increase in six years. This is certainly a gratifying
fact in face of a large emigration from the State. W e think the estimate for
1856 is below, rather than above, the truth. The closeness of the vote for Goverernor in September, 1840, stimulated both parties to obtain every possible vote at
the November election, while the canvass this year was not equally thorough, in
all parts of the State. This will appear by comparing the aggregate vote of each
Congressional district this year for members of Congress :—
No. 1.

No. 2.

No. 3.

No. 4

No. 5.

21,089

22,556

19,072

20,429

21,010

No. 6.

15,983

Each district had substantially the same amount of population in 1850, while
the difference between the votes in the second and sixth districts this year is
6,573. W e can hardly suppose that this difference of vote is entirely due to the
greater increase of voters in the 2d district over the 6th, but to the fact that a
closer canvas was had in the former than in the latter. Still we think it shows that
the growth of the State has been greatest along the lines of our railways. Portland,
Bangor, Bath, and the large cities have each increased very rapidly; we think
there is no doubt the progress of Maine the last six years has been mainly due to
her railways. The 2d district includes the towns of Cumberland, Oxford, and
Androscoggin counties, on the line of the Montreal and Waterville railroads, in
every one of which there is a large increase of population, greater probably than
in the seaboard towns. The third district is made up of the county of AValdo
and that part of Lincoln east of the Kennebec River, does not contain a mile of




762

Statistics o f Population, etc.

railway in it. The contest was very sharp! in that district, and drew out a full
vote. Y et it threw 3,484 votes less than the 2d district.
The 4th district, which includes Bath and the towns in Kennebec and Sagadahock counties on the line of the Kennebec and Portland Railroad, threw 1,367
more votes than the 3d district.
The vote of Portland would indicate a population of about 30,000, that of
Bangor about 19,000, and Bath 12,000. From 1840 to 1850 the greatest in­
crease was in the lumbering districts in the counties of Penobscot and Washing­
ton. Since 1850, Cumberland and Oxford have increased more than any other
counties in the State.
EMIGRANTS FROM ENGLAND.

The Liverpool Northern Times, in an article on the character of the most
numerous classes of emigrants from that country, the object of which is to show
that a large proportion of them are industrious and skilled mechanics, who leave
the country for the purpose of seeking employment where industry is more fully
rewarded, presents the following alphabetical table of the trades to which a portion
of the emigrants of the last two years belonged :—

185-4.

1855.

Blacksmiths and farriers.................................................................
Braziers, tinsmiths, and whitesmiths............................................
Brick and tile makers, potters, &c................................................
Bricklayers, masons, plasterers, and slaters...............................
Builders............................................................................................
Cabinetmakers and upholsterers..................................................
Carpenters and jo in e rs...................................................................
Carvers and gilders.........................................................................
Coachmakers, &c.............................................................................
Coal miners.......................................................................................
Coopers..............................................................................................
Engineers..........................................................................................
Millwrights.......................................................................................
Miners and quarrymen...................................................................
Painters, plumbers, paper-hangers, and glaziers . . . . . . .............
Saw yers...................................
Shipwrights........................................................
Smiths (general).............................................................................
Surveyors..........................................................................................
Turners..............................................................................................
Wheelwrights..................................................................................
Mechanics not before specified......................................................

1,574
313
I ll
3,984
69
182
5,185
65
50
177
269
317
36
4,112
697
213
61
216
27
45
196
3,398

381
148
82
1,814
35
81
2,541
64
25
62
171
285
10
1,673
661
141
15
268
32
25
106
2,645

Total..........................................................................................

21,347

11,156

To this statement the Times remarks :—
The total number of such adults who emigrated in the two years having been
respectively 134,789 and 65,363, it follows that the mechanics and skilled work­
men, connected with the building and constructive trades, who leave the country,
form the proportion of about one-sixth of the whole number. Farmers, agricul­
tural and general laborers, and those identified with land, constitute one-half of
the bulk of emigrants. The tide of emigration, as regards the mechanics
enumerated, sets chiefly to Australia and the United States. Last year there was
an unusually small amount of emigration, owing to the war, the drafts for the
army and navy, increased employment at home, and the check given to emigration
to the United States by the stringent American regulation and the political ob­
jections to Catholics and the Irish, and to naturalization, which had before been
freely granted. The employment of many large steamers now disengaged from
the transport service, and reduced fares, coupled with the prosperous state of
Canada and Australia, will lead to an increased emigration next spring.




763

Railroad, Canal, and Steamboat Statistics.

RAILROAD, CANAL, AND STEAMBOAT STATISTICS.
PROGRESS OF RAILWAY CONSTRUCTION.

The first railway which was opened for public traffic and the carriage of passensengers was the Stockton and Darlington, in 1825.
The Quincy Railway, built in 1827, was the first constructed in the United
States. The Maunch Chunk, 9 miles long, was built in 1827, in 63 days, at a
cost of $27,000. The first passenger railway was the Baltimore and Ohio, which
was opened with horse-power, for fifteen miles, in 1830. The Mohawk and Hudson
Road was opened for public travel with horse-power in the summer of 1831. The
South Carolina Road, commenced in 1830, was opened for public travel in 1832
for a distance of 62 miles.
Locomotives were first used in this country in 1831 on the Mohawk and Hudson
Road, and the next year upon the Baltimore and Ohio, and on the South Carolina
Road. The first engines were built by the West Point Foundry, and wighed
about 4 tons, and ran 20 miles an hour.
In 1804 a locomotive engine was tried upon a railway in Wales, but it was un­
successful, in consequence of a difficulty of obtaining sufficient adhesion upon the
rail. This was remedied in 1811 by the application of the power to a rack or
toothed rail.
The celebrated trial of locomotives on the Liverpool and Manchester Railway
in 1829, resulted in determining the successful application of the locomotive
engine to railway transport. The increased rate of speed which the locomotive
attained at several periods will be seen from the following table :—
In
In
In
In
In
In

1824 the locomotive ran..............................................
1829
“
1834
“
1839
“
1847
“
1853
“

6 miles an hour.
15
20
37
70
100

The following table shows the length of railways in operation, and the miles of
surface and number of inhabitants to one mile of railway, in the principal countries
of Europe and North America.

N am e o f country.

Great Britain and Ireland...............................
B elgium .............................................................
Germany and Austria.......................................
Prussia...............................................................
France.................................................................
I t a ly ...................................................................
Russia..................................................................
Spain...................................................................
C u b a ...................................................................
Canada ...............................................................
United States, east of the Mississippi...........
Northwestern States........................................
Northeastern States..........................................
Middle States....................................................
Southern States................................................
Western States.................................................
New Y o r k .........................................................




M iles o f
road in
operation.
8 ,0 5 4

2,290

60

2 1 ,4 4 0

5 ,4 6 3

M iles o f
surface to
one m ile
o f road.

N o. o f
inhabitants
to one m ile
o f road.

15

3 ,4 1 1

10

4 ,0 2 4

17

7 ,2 5 1

48

7 ,1 3 1

83

1 4 ,4 0 0

797

1 3 2 ,3 5 3

4 ,7 4 0

1 4 2 ,9 1 5

3 ,0 3 8

2 3 6 ,9 3 4

144

4 ,1 6 5

337

1 ,7 8 7

38

1 .0 7 5

SO

731

16

776

20

1 ,3 0 0

74

1 ,3 3 6

110

2 ,9 5 0

10

1 ,3 2 7

764

Railroad, Canal, and Steamboat Statistics.

If the whole cost of the railways of the United States were equally distributed
among the people, it would average thirty dollars to each man, woman, and child,
or one hundred and fifty dollars to each family.
Some adequate idea of the importance of the railway interests in the State of
New York may be had from the following proportions which it bears to all other
interests, as estimated in the New York Railway Commissioners’ R ep ort:—It forms one-tenth of the whole assessed valuation of real and personal estate.
The capital invested is equal to an average of $40 to each inhabitant, or $215
to each voter.
The number of persons direetly employed on the running roads is equal to onethirty-sixth of the voters in the State ; and if to these are added those employed
in constructing new roads, and those whose business is directly dependent upon this
interest, in furnishing supplies, etc., it is equal to one-thirteenth of the voters, and
with their families, they form one-fourteenth of the whole population.
The amount o f passenger travel in the cars is equal to seven hundred and twentyfive miles per year, of every voter, and one hundred and thirty-five miles for every
man, woman, and child in the State.
There are forty thousand persons who travel every day, and there are twenty
of these daily moving over every mile of railway.
There are 750,000 tons of engine, cars, passengers, and freight carried an­
nually over each mile of road, or 2,400 tons daily, or 100 tons hourly over each
mile of road.
The cost of transportation of passengers and freight to the railway companies
would be equal to a little more than three dollars to each inhabitant, or seventeen
dollars to each voter per annum ; and including the payments for construction,
interest, and dividends, a sum equal to twice these amounts is paid.

THE CONDITION OF THE RAILROAD INTERESTS.

W ith twenty-four thousand miles of railroad in this country, and all of it so
recent in construction as to furnish little actual experience, it is not surprising
that there are great changes going on in the management and the results of the
system. Some of them are so obvious, and the experience so valuable, that they
should be put on record, as instructive for the future.
1. That railroads, when complete, even with a single track, cost much more
than was at first supposed, is now quite obvious. A railroad may, for example,
in a flat country, be made passible, with a locomotive, for $20,000 per mile; and
because the locomotive could be set going on it, that was the estimated cost; but
that road will never be complete under $35,000 per mile. In a hard country, or
with an entrance to a great city, of course it will be much more than that. A t
present, the cost of some of the most important roads has been as follows :—
New York Central...................
Pennsylvania C entral.............

Per mile.

Per mile.

$70,000 I Little Miami..............................
70,000 | Georgia Central........................

$40,000
20,000

Now each of these roads cost, when it was first put in operation, but a little
more than half this sum. The chief sources of expenditure over the original cost
were :—
(1.) Relaying; for till very recently all American railroads were laid with
light iron, but must now have very heavy iron, to meet the wear and tear of in­
creased freights.
(2.) Increased equipment; for the business became much greater than was
anticipated. More locomotives, more cars, more machinery of all kinds were
required.
(3.) Increased conveniences became necessary; for the road with a large
business must have machine shops, depots, and conveniences of all sorts.
2. The railroad business has enormously increased. N o man in the United
States, ten years since, expected a railroad business to be what it is. Indeed no
adequate idea could be formed of the capacity and power of a railroad. It was




765

Railroad, Canal, and Steamboat Statistics.

first assumed that they could carry no freight, but would be profitable for passen­
gers on long passenger routes. Next, it was deemed perfectly certain that their
freight business would be confined only to light traffic, and canals must yet be
made to carry heavy produce. But even the last has been exploded. Most rail­
roads now make most of their profit from freight traffic. One direct consequence
of this is in the increased expenses to which we have referred ; for such a heavy
business requires rails and machinery of a much stronger and more expensive
character.
3. Another idea was, that a through business was the one which furnished the
profit; and accordingly the prospectus of every new railroad enterprise for the
last five years has announced that it was.certain of a great through business; and
in operating roads this ignis fa'uis has almost bankrupted many of them. The
shadow was taken for the substance. But it is now discovered and proved that
in nine roads out of ten, the best and most profitable business is a local traffic.
To this there are exceptions, but they are peculiar cases, and in general it is the
interest of railroad companies to cultivate their local traffic.
4. As a consequence of this increase of business, and of local traffic, the gross
receipts of railroad companies have been immensely increased from year to year.
Take the following examples, which are put down in round numbers, and are near
enough for comparison :—NEW YORK AND ER IE .

Increase.

In 1852.....................
In 1853.....................
In 1855.....................
In 1866.....................
From 1852 to 1856..
Per annum, average.

$8,318,000
4.321.000
5.488.000

6.200.000

81 per cent.
26
13

90

22

«

'L ITTL E MIAMI RAILROAD.

In 1852.....................
In 1858.....................
In 1854 ..................
In 1856.....................
From 1852 to 1856..
Per annum, average

Increase.

$526,000
667.000
721.000
860.000

26 per cent.

8
20
60

“

“

15

These examples correspond with those of most of the large roads. The result
is that the gross receipts of the roads have exceeded anything that has been con­
ceived. In 1856 this is more manifest than ever. The average increase of re­
ceipts in 1856, on the old and good road, will approach 20 per cent; so that in
this respect 1856 will be the most prosperous railroad year ever known.
5. On the other hand, the net proceeds have also increased largely ; for, as the
roads are older, and have more experience, they are more economized. There are
many expenses which are reduced by the permanency and self-adjustment of the
roads.
6. The ultimate consequence of these changes and principles is that the intrinsic
value of railroad property is rapidly and largely increased. It is true that the
cost of the roads has been enlarged, and that much of the income of the roads
has been absorbed in enlarging the capital; but it is also true that this enlarge­
ment has given far greater power to the machine, and that its work is far more
profitable. Although, then, the fancy value of railroad stock may have dimin­
ished, and it may not be so marketable, yet it is most undoubtedly worth a great
deal more as a permanent investment. The year 1856 alone has added many per
cent to the value of stock in all the solvent railroad companies of the country.
The time is near when most of them will pay large cash dividends; and when
they do the stocks will all fly up, as bank stocks have from the same cause.—
Cincinnati Railroad Record.




766

Railroad, Canal, and Steamboat Statistics.
RAILROADS UV OHIO.

The Railroad Record, one of the most reliable and best conducted journals of
its class in the Union, furnishes a list of the railroads in Ohio, with the names
of the presidents and their places of residence, &c., from which we compile the
following table, exhibiting the length of the several roads and their present con­
dition :—
Road.

Miles.

Ashtabula and New Lisbon..........................
Bellefontaine and Indiana.............................
Cincinnati and Chicago..................................
Cincinnati and Fort W a y n e.........................
Four Mile V a lle y ...........................................
Cincinnati, Hamilton, and Dayton...............
Cincinnati and Mackinaw..............................
Cincinnati and Hillsborough.........................
Marietta and Cincinnati...............................
Cincinnati, Peru, and C hicago.....................
Cincinnati, Wilmington, and Zanesville. . . .
Cleveland, Columbus, and Cincinnati.........
Columbus and X e n ia .....................................
Cleveland, Painesville, and Ashtabula . . . .
Cleveland and Pittsburgh..............................
Cleveland and Pittsburgh extensions..........
Cleveland and Toledo....................................
Cleveland and Mahoning..............................
Cleveland, Zanesville, and Cincinnati..........
Clinton Line......................................................
Clinton Extension............................................ .
Columbus, Piqua, and Indiana.......................
Dayton and Cincinnati Short Line................
Cleveland, Painesville, and Ashtabula........
Northern Indiana ...........................................
Toledo and Illinois..........................................
Dayton and Michigan.......................................
Dayton and Western........................................
Dayton, Xenia, and B elper............................
Eaton and Hamilton........................................
Tremont and Indiana......................................
Greenville and Miami......................................
Iron Railroad.....................................................
Little M iam i.....................................................
Mad River and Lake E rie ..............................
Ohio Central.....................................................
Ohio and Mississippi........................................
Sandusky, Mansfield, and N ew ark ...............
Springfield and Columbus..............................
Springfield, Mount Vernon, and Pittsburgh.
Steubenville and Indiana................................
Tiffin and Fort W ayne....................................
Sciota and Hocking V a lle y ............................
Ohio and Pennsylvania.....................................
Ohio and Indiana.............................................
Cleveland, Medina, and Tuscarawas.............
Columbus and Hocking V a lle y .....................
Pittsburgh, Maysville, and Cincinnati...........

56
187
131
130
70
69

46 roads.....................................................

4,687

84
123
...
94
81
60
430
37
258
97
131
135
55
95

Condition.

In progress.
Complete.
In progress.
“
Complete.
In progress.
Complete.
In progress, 120 miles com.
In progress.
Complete.
“
“

101
95
194
85
140

“
“
In progress.
“

61 milescomplete

<C
M

102
52
140
89
76
120
40
70
45
120
47
13
84
153
141
191
116
19
114
116

Complete.
In progress.
Complete.
In progress, 28 miles com.
Complete.
16 miles complete.
Complete.
“

In progress, 84 miles com.
Complete.
In progress, 49 miles com.
Complete.

102
“
“
“
In progress.
“
2,593 miles completed.
2,094 miles in progress.

Some small portions of the above lines run into other States; but, on the
other hand, there are some small branches not included, which will be quite equal
to them. Several of the unfinished lines are rapidly progressing.




767

Journal o f M ining and. Manufactures.

JOURNAL OF MINING AND MANUFACTURES.
THE IRON TRADE AND RESOURCES OF THE UNITED STATES.

The production of iron in the United States, for the year ending June 30,1850,
as estimated by the last census, was as follows:—
Tons.

Value.

Pig-iron.....................................................
Castings....................................................
Wrought-iron............................................

664,755
322,745
278,044

112,748,777
25,108,155
16,747,074

Total.....................................................

1,165,644

$54,604,005

The number of establishments operated in this production was 2,190, employ­
ing about §50,000,000 of capital, and a little more than 57,000 hands.
The value o f the product o f some o f the largest producing States was as
follows :—
Massachusetts.........................................
Connecticut............................................
New Y o r k .............................................
Pennsylvania.........................................
Ohio ......................................................
Maryland.................................................
Virginia...................................................
Tennessee...............................................
Missouri...................................................
Kentucky.......................................... ....

Pig-

$295,123
415,600
597,920
6,071,513
1,255,850
1,056,400
521,924
676,100
314,600
604,037

Cast

W rought

$2,235,635
931,400
5,921,980
5,354,881
3,069,350
685,000
674,416
264,325
336,495
744,316

$428,820
667,560
1,423,968
8,902,907
1,076,152
771,431
1,254,995
670,618
68,700
299,700

The amount of capital employed in the above States, in 1850, was the largest
in Pennsylvania, being between nineteen and twenty millions of dollars. In New
Y ork it was about §6,300,000 ; Connecticut, §1,300,000; Massachusetts,
§1,578,350 ; Ohio, §4,200,000 ; Missouri, §850,000, &c.
The amount of 1,165,544 tons, valued at §54,604,006, being the total produc­
tion of iron in a single year within the limits of the Union, is a large yield in this
one article of our manufactures. Fifty-four millions of dollars is enough to pay
Uncle Sam’s yearly expenses, were they brought within the limits, which they
should be, and would be, if all the drones and treasury peculators could be turned
out of office and faithful men put in their places. But this yield is only as a grain
of sand on the sea-shore, when the whole iron resources of the Union are consid­
ered. The recent geological survey of Missouri, now one of the smallest ironproducing States, sets forth that there is ore enough of the very best quality,
within a few miles of Pilot Knob and iron mountains, above the surface of
the valleys, to furnish one hundred millions of tons per annum of manufactured
iron for the next two hundred years 1 And to work this inexhaustible quantity
of ore, that State alone can furnish one hundred million tons of excellent coal
per annum for the next 1,300 years! Add to this, the immense iron and coal re­
sources of Pennsylvania, Maryland,Virginia, Kentucky, Tennessee, Ohio, and other
Alleghany States, and to that product the resources of those which will soon
border on the Rocky Mountains, and we have a good prospect that iron and coal
will not fail us until some time after our gold mines have given out and our forests
disappeared.
So much for the production of iron in the United States, and our resources for
increasing it. The great necessity for so doing is made apparent by turning our
attention to the large amount which has been imported during the last fifteen
years. W e have shown that the census of 1850 estimated the yield of that year
(ending June 30) at something over §54,000,000 in value. From interesting
statistical tables, published in connection with the last report of the Secretary of
the Treasury, it appears that we imported during that year §16,333,145 worth,




768

Journal o f M ining and Manufactures.

which in 1854 had swollen to $29,341,755, or more than half the whole amount
produced in 1850, with all our great resources. The value imported in 1845
seems to have decreased from six to seven millions, being $22,980,728. This may
result from a decreased demand, caused by the completion of railway projects,
but with the settlement of the great West, the demand is destined soon to be
greater than ever. With a population of little less than twenty millions in 1850,
it has been estimated that the completion of another half century will usher in
the year 1900 upon not less than one hundred million souls inhabiting Uncle Sam’s
domicil, embraced between the Atlantic and the Pacific! This vast people will
have occasion for a very large supply of iron, which they cannot import.
W e compile the annexed interesting table of the value of iron imported and
exported, from 1840 to 1855 inclusive, from the Treasury Statistics already re­
ferred to. It embraces iron and manufactures of iron :—
F o r e ig n
im p o r te d .

Y ear.
1 8 4 0 .............................................
1 8 4 1 ............................................. ..........................

8 ,9 1 4 ,4 2 5

F o r e ig n
e x p o rte d .

D o m e s t ic
e x p o rte d .

$ 1 6 6 ,1 1 5

$ 1 ,1 0 4 ,4 5 5

1 8 4 ,3 1 6

1 ,0 4 5 ,2 6 4

1 7 7 ,3 8 1

1 ,1 0 9 ,6 2 2

1 8 4 3 .............................................

5 0 ,8 0 2

5 3 2 ,6 9 3

1 8 4 4 .............................................

1 0 7 ,9 5 6

7 1 6 ,3 3 2

1 8 4 2 .............................................

1 8 4 5 ............................................. ..........................

8 ,2 9 4 ,8 7 8

9 1 ,9 6 6

8 4 5 ,0 1 7

..........................................

1 2 2 ,5 8 7

1 ,1 5 1 ,7 8 2

1 8 4 7 .............................................

6 3 ,5 9 6

1 ,1 6 7 ,4 8 4

1 8 4 8 .............................................

9 8 ,2 9 5

1 ,2 5 9 ,6 3 2

1 8 4 9 .............................................

1 0 9 ,4 3 9

1 ,0 9 6 ,1 7 2

1 8 5 0 .............................................

1 0 0 ,7 4 6

1 ,9 1 1 ,3 2 0

1 7 ,3 0 6 ,7 0 0

1 0 0 ,2 9 0

2 ,2 5 5 ,6 9 8

1 3 4 ,9 3 7

2 ,3 0 3 ,8 1 9

2 7 ,2 5 5 ,4 2 5

2 6 2 ,3 4 3

2 ,4 9 9 ,6 5 2

1 8 5 4 ............................................. ..

7 9 5 ,8 7 2

4 ,2 1 0 ,3 5 0

1 8 5 5 ............................................. ..

1 ,5 6 5 ,5 2 3

3 ,7 5 3 ,4 7 2

1846

1 8 5 1 ............................................. ..........................
1 8 5 2 ............................................. ..
1 8 5 3 ............................................. ..........................

These figures show an increase in the iron importations of the past fifteen years,
from six-and-a-half up to twenty-nine millions. There is a marked variation be­
tween the years 1842 and 1843. W ith this exception, the importations seem to
have uniformly increased until last year, (1855,) when they fell off more than
$6,000,000 from those of 1854, while there was a large ratio of increase in the
export of domestic iron. This would seem to augur favorably for the increasing
prosperity of our iron manufacturers.— Boston Journal.
AMERICAN CUTLERY.

It is to be regretted that so many persons are accustomed, under the influence
of early association, or rather of ignorance, to unthinkingly give the preference
in many matters of small purchase to English or European goods, without in­
quiring whether the same article cannot be had of equal quality of American
make. The dealer in many cases undoubtedly knows better than his customer,
but the dealer’s business is to supply the demand, not to inform the community.
Besides, it is undoubtedly true that in many cases the retailer is not really aw are
of what he could obtain of American manufacture if he were to order it.
The consequence of this demand for the far-fetched and dearly-bought, is that
we meet every day with dry goods, jewelry, perfumes, and fancy ware of the most
varied descriptions, and of real excellence, stamped and labeled as if of foreign
manufacture, while in reality they proceed from numerous “ retired and shady”
factories or ateliers in our Atlantic cities, whence they are spread profusely
through the South and West, and especially through Spanish America. But the
real marvel of these pseudo-imports is not their quantity so much as their quality,
and the degree in which they approach the original fabrics. Quietly but rapidly
we are day by day gaining on the Old World, and the time is Dot far distant
when it will be discovered that the majority of our manufactures are actually
superior to those of Europe.




Journal o f Mining and Manufactures.

769

As an illustration of this, we will venture to assert that there are very few
persons not concerned in the business who are aware of the degree of excellence
which the manufacture of cutlery has attained in the United States, or that, if it
were generally known and encouraged, we should in all probability be entirely
self-dependent as regards its production. On this subject, Fleischmann, whose
work on the Branches of Industry in the United States has contributed more
than any other book to enlighten Germany as to our country, remarks as follows:
“ The manufacturers of cutlery in the United States have far surpassed those
of the old world in the manufacture of tools, and that not merely in the excellence
of the metal used, but especially in the practical utility of their patterns, and in
the remarkable degree of finish of their work.”
It is a somewhat remarkable fact that American hardware is every year develop­
ing in its shapes a practical economy of material and a straight-forward adaptation
to the end in view which are unknown to the-greater part of Europe. The
American laborer or mechanic, it is well known, even where not gifted with a
greater degree of physical ability, will still, as a rule, turn out more work in a
day than a foreigner under the same circumstances. With such men, who go
directly at their work and stick to it, there is no play and no trifling with labor.
A result of this is shown in the fact that the American ax, which, in its wellknown form, is entirely a native American pattern, is far more practically useful
than the miserable European ax which it has supplanted. And not in axes alone,
but in many other implements there has been a marked progress and a gradual
though unnoticed communication of practical patterns to English manufactories.
In our factories, which are themselves very generally proofs of the same principle
of economy and of keeping directly at the object proposed, there is actually more
of the first quality English steel used, than in England itself. Of Hoop L, the
best quality of English steel, there is annually ten times as much used as in
England, though that country manufactures about fifty times as much cutlery as
we do.
Could our American mechanics receive the credit so justly their due, for the
improvements which they have gradually introduced into the shape of carpenters’
tools, and could the world be made aware of the degree to which of late years the
English trade has been indebted to them for these improvements, we will venture
to state that there are few who would not be amazed. The European— especially
(he continental— suffers in this respect under a tyranny of “ old custom,” which
no Yankee mechanic would believe. I f we look through Paris, if we examine
the pattern plates published, we are amazed at the luxuriance of beautiful and
practical forms annually produced, which glitter in shop windows or are displayed
at exhibitions. But go into the country, and we find the same clumsy, unprac­
tical old implements which were used three centuries ago. The seed falls on
stony ground.
A t the present day, American cutlery is extensively imitated in Germany, even
to the marks and names of our manufacturers. This is also done by English
goods, but the complimentary fraud has been of late years greatly on the increase
as regards our own. W e will not assert that there is not, especially in England,
a vast amount of inventiveness, nor that a corresponding degree of improvements
has not been made. But a practical invention is less likely to die in the birth in
America, and we confidently assert, without tear of refutation, that if any one
will study the history of cutlery patterns adopted for the last fifty years, including
all the allied branches of iron manufacture, he will find that by far the greater
proportion of practical improvements have been of American origin.
IMPROVEMENT IN WEAVING,

The primary idea of the loom, as improved by Mr. William Talbot, a Connec­
ticut inventor, is that of the jacquard and the endless chain modified and com­
pacted. The improvement can be so arranged in a very short period of time as
to weave bags, twilled or plain, of exactly uniform length, or of an exactly eqqal
number of picks, day after day, or rather through beam after beam, making a
V O L . X X X V . --- N O . V I .
49




770

Mercantile Miscellanies.

real and strong bottom to each. The cards of the jacquard and the endless chain
are dispensed with by Mr. Talbot in weaving large patterns, their places being
supplied by two cylinders, the rotary action of one being used in making the body
of the bag, and the action of the other being used in making the bottom of the
same, the action of the one cylinder giving motion to the other cylinder when the
first is desired to be motionless and the second is desired to be in action. In ad­
dition to this improvement, mention is made of an English invention for preventing
broken warp-threads becoming entangled in the shed of aloom. The inventor em­
ploys an extra leaf ofhealds placed behind the ordinary harness, and gives to
this leaf a motion backward and forward between the yarn, making them act like
a comb to throw back any ends of broken yarn from being carried forward to
obstruct the proper shedding of the warp.

MERCANTILE MISCELLANIES.
WHAT YOUNG MEN IN STORES SHOULD DO,

The Boston Herald, a penny paper of large circulation, and conducted with
ability, occasionally publishes editorial leaders on matters pertaining to mercan­
tile life. These papers are written, as we understand, by a gentleman of large
experience in business affairs. W e have given the readers of the Merchants'
Magazine the benefit of the writer’s wholesome advice or wise suggestions. The
few words to young men who are employed in stores, which follow, are from the
same source :—
The fall business has commenced, and your employers have quite as much to
attend to as they are capable of discharging. They cannot overlook all your
operations and give you minute directions as to your duty, but they know when
you do your work properly and promptly. During the business season you have
the opportunity to show, in various ways, that you have the interest of your employers at heart. Y ou will, perhaps, have your own evenings at your disposal, but
notwithstanding this, you should never let your amusements prevent your giving
to your employers, now and then, an evening, whenever the custom during the
day makes your services indispensable in the evening.
Whenever two or more of you are in a store, do not quarrel with each other
as to the performance of a specific duty. Let him who is the nearest and can do
it the quickest, perform that duty. When a man has two clerks or apprentices,
one of whom is always ready to do more than his share of the work, and the
other insists upon shirking everything which he can, the former is advanced and
recommended, while the latter loses his place, or is kept in a subordinate position,
at a low salary.
While our city is overrun with clerks seeking employment, our merchants are real­
ly in want of young men who will come into their stores, do the work, and learn, step
by step, practically, the whole routine of their business. This kind of young men
are our future merchants, while a majority of clerks who want to act the gentle­
man during their minority, and loiter about a counting-room, doing nothing, with
a pen behind their ear, find themselves in after life nothing but the servants of our
mercantile firms, without any chance of ever getting into business on their own
account.
One smart boy in a store, who will work and practically learn all the routine of
a business, is worth more, both to his employer and to himself, than a score of
boys who procure situations in which they can act the gentleman, and do as
nearly nothing as possible. If a boy does not learn to work, and work hard,
when necessity requires it, during his minority, he seldom ever learns to work at
all. If, when he arrives at age, he is furnished with capital by parents or friends,
he knows nothing about the work to be done in a store, and having no practical




Mercantile Miscellanies.

Ill

experience, lie cannot direct his employees. Of course, his servants neglect their
duty, and his business goes to ruin.
Many young men refuse to take any extra pains for their employers, because,
as they say, they receive no extra compensation therefor. But such young men
should recollect that if they neglect to give extra attention to their employers’
business, when that business demands it, they contract a habit of neglect which
will be fatal to their own business which they may thereafter prosecute. It is a
mistake to suppose that a clerk or an apprentice works only for his employer. He
works as well for himself as for his employer. Every exertion which he makes
for that employer gives him experience, and creates a habit of industry. Every
care which he bestows upon his employer’s property induces a habit of careful­
ness which in after years will be available to himself. Every dollar he can save
to his employer, becomes a lesson in economy, a virtue which is as indispensable
to his own success in after life, as to his employer at the present time.
Much has been said about the lowness of wages among our clerks and appren­
tices, and, as a general rule, those wages are low, much too low. But still there
are very many instances where clerks, salesmen, and apprentices receive two or
three times as much for their services as the general average. The reason is per­
fectly evident. The latter class have never been content with doing merely what
was prescribed for them. They volunteered to do what they saw the business de­
manded, whether they were directed to do it or not. Thus they made themselves
indispensable to their employers, and after a while, those employers voluntarily
raised their wages. But the class who shirk everything, of course get low wages,
and when they lose their places, find it extremely difficult to get another situation.
DEPENDENCE AND EQUALITY OF BUSINESS MEN,

A correspondent of the Philadelphia Merchant, dating from Hagerstown,
Ohio, over the signature of “ H. L. C.,” writes after this manner upon the subject
of mercantile dependence. He is probably a bettor thinker than writer, as the
readers of the Merchants' Magazine will readily infer :—
The history o f past events, contrasted vrith the present, affords a very
striking illustration of the degree of equality and dependence existing in the vari­
ous departments of business that have and are now being transacted throughout
the entire world, by the great variety of characters thus engaged. By observa­
tion, we readily perceive that at one time one class of the above-named depart­
ment is enabled, by economy and the condition of external circumstances, to have
and to hold, apparently, for a short period, the entire control of every feature con­
nected with its branch of business. But no one class is permitted to occupy
this position longer at one time than is necessary to produce that change conse­
quent on the dependence that man sustains to his fellow-man.
The merchant may be seen at one time commanding a very elevated position in
this respect; having at his control the larger part of community, including the
farmer and mechanic, speculating on the proceeds of their labor, in consequence
of an increased demand for their articles of trade. This was the state of things
but a few years since. A t present the scale is turned, and those who were then
depressed in consequence of the inadequate remuneration for their labor have
risen in the scale of prosperity, and are now enjoying the fruits of their industry
and economy.
A ll kinds of produce constitute the coin with which the farmer fills his coffers.
So every specimen of mechanical ingenuity useful to man meets a welcome recep­
tion, the proceeds duly rewarding the workman for his skill and labor. Hence,
we can readily perceive that all classes of mankind are mutually dependent on
each other, no man being entirely independent, but sustaining the same relation
to his fellow-man, that one member of the body sustains to the grand system
composing the human frame. Whenever a member of this system is crippled, or
defective in the performance of the various functions assigned it in the physical
economy, the whole organism is sympathetically affected, and harmonious action




772

Mercantile Miscellanies.

throughout the system cannot be restored until the affected member recovers its
former tone.
Just so in the business world. Thus, the farmer is dependent on the merchant,
the manufacturer, and the mechanic, for the means by which he can convert the
proceeds of his labor into that which is necessary to render him comfortable in
life. The manufacturer is dependent on the merchant for a ready sale of the pro­
ducts of his labor. The merchant and mechanic are dependent upon all classes
of community for their success in business. But upon the labor of the farmer
does the whole complicated machinery of society depend for its motive power—the physical wants of man, though less ennobling in their gratification than those
of his higher nature, are not less important. Upon the labors of the intellect, and
the busy fingers of the printer, which give voice to its utterances, do all classes
acknowledge dependence. To this source is the world indebted for the higher
essentials of life, for that which is truly elevating.
THE TRAFFIC IN CIRCASSIAN WOMEN,

The correspondent of the London Morning Post thus describes the present de­
pressed condition of the market in Turkey :—
There has been lately an unusually large number of Circassians going about
the streets of Constantinople. Many of them, no doubt, belonged to the deputa­
tion which came to petition the Porte that their country might be taken under
suzerainty of the Sultan. A considerable portion, however, of the Circassians
now in the capital, have quite another mission than a political one to fulfill. They
are here as slave-dealers, charged with the disposal of the numerous parcels of
Circassian girls that have been for some time pouring into this market. Per­
ceiving that when the Russians shall have re-occupied the coast of the Caucasus
this traffic in white slaves will be over, the Circassian dealers have redoubled
their efforts, ever since the commencement of the peace conferences, to introduce
into Turkey the greatest possible number o f women while the opportunity of
doing so lasted.
They have been so successful, notwithstanding the prohibition of the trade by
the Porte, and the presence of so many of her Majesty’s ships in the Black Sea,
that never, perhaps, at any former period, was white flesh so cheap as it is at this
moment. There is an absolute glut in the market, and dealers are obliged to
throw away their goods, owing to the extent of the supply, which in many instances
has been brought by steam under the British flag. In former times a “ good
middling ” Circassian girl was thought very cheap at £100, but at the present
moment the same description of goods may be had for £5 1 In fact, the creatures
are eating their heads off, and must be disposed of at any sacrifice, ho>vever alarm­
ing. Independent of all humane and Christian objections to this abominable state
of things, there are several practical ones which have even forced themselves on
the attention of the Turks. W ith low prices, a low class of purchasers come into
the market.
Formerly a Circassian slave girl was pretty sure of being bought into a good
family, where not only good treatment, but often rank and fortune, awaited her ;
but at present low rates she may be taken by any huckster who never thought of
keeping a slave before. Another evil is that of the temptation to possess a Cir­
cassian girl at such low prices, is so great in the minds of the Turks, that many
who cannot afford to keep several slaves have been sending their slaves to market,
in order to make room for a newly purchased white girl. The consequence is,
that numbers of black women, after being as many as eight or ten years in the
same hands, have lately been consigned to the broker for disposal. N ot a few of
these wretched creatures are in a state quite unfit for being sold.
I have it on the authority of a respectable slave broker, that at the present
moment there have been thrown on the market unusually large numbers of negresses in the family way, some of them even slaves of pashas and men of rank.
He finds them so unsaleable that he has been obliged to decline to receive any
more. A single observation will explain the reason of this, which might appear




Mercantile Miscellanies.

113

strange when compared with the value that is attached even to an unborn black
baby in some countries. In Constantinople it is evident that there is a very large
number of negresses living and having habitual intercourse with their Turkish
masters— yet it is a rare thing to see a mulatto. W hat becomes of the progeny
of such intercourse ? I have no hesitation in saying that it is got rid of by infan­
ticide, and that there is hardly a familyJn Stramboul where infanticide is not
practiced in such cases as a mere matter of necessity, and without the least re­
morse or dread.
OMNIPRESEJVCE OF COMMERCE.

A t a reception dinner given to Mr. P eabody , the London Banker, in his native
town of Danvers, Mass., on the 9th of October, 1856, the Hon. E dward E verett
made a most brilliant episode upon commerce, from which we make the subjoined
extract:—
“ What is it that gives vigor to the civilization of the present day but the
world-wide extension of commercial intercourse, by which all the products of the
earth and of the ocean— of the soil, the mine, of the loom, of the forge, of
bounteous nature, creative art, and untiring industry— are brought by the
agencies of commerce into the universal market of demand and supply. N o
matter in what region the desirable product is bestowed on man by a liberal
Providence, or fabricated by human skill. It may clothe the hills of China with
its fragrant foliage ; it may glitter in the golden sands of California; it may
wallow in the depths of the Arctic Seas ; it may ripen and whiten in the fertile
plains of the sunny South ; it may spring forth from the flying shuttles of Man­
chester in England, or Manchester in America— the great world-magnet of commerce
attracts it all alike, and gathers it all up for the service of man. I do not speak
of English commerce, or American commerce. Such distinctions belittle our
conceptions. I speak of commerce in the aggregate— the great ebbing and flowing
tides of the commercial world— the great gulf-streams of traffic which flow round
from hemisphere to hemisphere— the mighty trade-winds of commerce which
sweep from the old world to the new— the vast aggregate system which embraces
the whole family of man, and brings the overflowing treasures of nature and art
into kindly relation with human want, convenience, and taste.
“ In carrying on this system, think for a moment of the stupendous agencies
that are put in motion. Think for a moment of all the ships that navigate the
sea. A n old Latin poet, who knew no waters beyond those of the Mediterranean
and Levant, says that the man must have had a triple casing1 of oak and brass
about his bosom, who first trusted his frail bark on the raging sea. How many
thousands of vessels, laden by commerce, are at this moment navigating, not the
narrow seas frequented by the nations, but those world encompassing oceans.
Think next of the mountains of brick, and stone, and iron, built up into the great
commercial cities of the world, and of all the mighty works of ancient and
modern contrivance and structure— the moles, the lighthouses, the bridges, the
canals, the roads, the railways, the depth of mines, the titanic force of enginery,
the delving plows, the scythes, the reapers, the looms, the electric telegraphs,
the vehicles of all descriptions, which, directly or indirectly, are employed, or put
in motion, by commerce— and last, and most important, the millions of human
beings that conduct, and regulate, and combine these inanimate, organic, and
mechanical forces.
“ And now, sir, is it anything less than a liberal profession, which carries a
quick intelligence, a prophetic forecast, and industry that never tires, and more
than all, a stainless probity beyond reproach and beyond suspicion, into this vast
and complicated system, and by the blessing of Providence, works out a prosper­
ous result ? Such is the vocation of the merchant— the man of business— pursued
in many departments of foreign and domestic trade— of finance, of exchange—
but all comprehended under the general name of commerce— all concerned in
weaving the mighty network of mutually beneficial exchanges which enwraps the
world.”




774

Mercantile Miscellanies.
SPECULATION IN PRUSSIA.

A Berlin letter says :— A new principle is gradually becoming prevalent.
Materialism in a crude form is gradually superseding ideality ; money-making is
now becoming the primary object of man’s life, that is, under the form of specu­
lation. Persons of high rank, who stood aloof from such matter in former days,
are now formost in the promotion of speculative undertakings, and there is
scarcely one of the great aristocracy who is not more or less engaged therein;
not with a view of turning his mind or his money to the specialities of industry
as a permanent investment, but as a medium for obtaining increase of wealth by
gain, and then leaving the working out of undertakings to the last bidder.
MONEY-GETTING— CAUSES OF FAILURE IN BUSINESS,

To F reeman H unt, Editor o f the Merchants’ Magazine:—
It is said that the proportion of successes to failures in the mercantile line is
but three per cent. A momentous question here presents itself for the considera­
tion of the business adventurer and every parent. W hy this unsuccessful termina­
tion of ninety-seven out of every hundred mercantile undertakings ? There is
evidently some general defect here unnoticed by the young and inexperienced.
N ot only the poor, but the comparatively rich, who, by kind parents, have been
placed in possession of every advantage, are wrecked upon this dangerous sea ; and
thus it becomes of momentous interest to every parent that a minute survey be
made, and every shoal be clearly mapped out. Could such a chart'be secured, it
would be a more enduring lagacy than whole blocks of real estate/
It is said that “ not more than one per cent of the honest-class merchants suc­
ceed without failing in Philadelphia,” and that not more than two per cent of those
of New York ultimately retire on an independence, after having submitted to
the usual ordeal of failure.
In commencing business, men are apt to count upon success as a sort of “ fore­
ordained” necessary consequence of their supposed plenary talents. They look
upon failures as the lot of others— as the exceptions rather than the rule. To
suppose that self is thus liable is “ out of the question.” This conceit or selfassurance is oftentimes a “ decoy duck,” leading to danger and final ruin.
A haste to grow rich— an over-impatience to be “ respectable”— to acquire in
a short time what is properly the work of time and industry, is often a vortex of
folly and ruin into which many fall. It is better to “ make haste slowly,” and to
be sure in our getting. “ W hat is worth doing, is worth doing well.” To do
all things well will require all our time; and in proportion as we slight our work
do we make work for the future. A house poorly built is oftentimes worse than
none. Should it prove unsafe, and crush its owner in the fall, surely it will be
labor lost. N ot only will the labor be lost, but the old walls and rubbish are to
be removed before the work can be begun anew. Thus a failure generally leaves
its victim worse off than in the beginning. Hejias not only lost time and his first
investment, but, worse than all, his reputation as a man of business.
The first thing to be gained in business is reputation. This will generally
serve as capital to the young aspirant. Time, industry, and a constant practice
of righteousness in all things, will alone achieve this great boon. A slight taint
upon it is hard to remove. Like the stain upon the murderer’s garment, it eats
into the fabric, and stands an indellible mark of weakness or crime.
There are a class of failures which deserve a general condemnation ; we allude
to those which follow a reckless, unprincipled determination to become rich by
fair means, if convenient, and foul, if necessary. These are the highwaymen of
trade. With too little ambition and patience to labor honestly for the boon, and
an avariciousness which knows no bounds, they rush into the highways of com­
merce, and resolve upon an easy acquisition at every hazard. They are reckless
in the extreme ; they “ cut a figure,” make a great noise, secure a “ name,” and




Mercantile Miscellanies.

775

suddenly “ stop,” to the surprise of all. By taking advantage of deficient
laws, and feeding unprincipled attorneys, they swindle themselves into affluence
upon the earnings of others. These have secured what they bargained for ; but
did they know it— they have bartered away, with suicidal recklessness, a jewel of
more value than gold— infinitely more precious and necessary to life’s enjoyment
than all the real estate that it is possible to possess. He has “ victimized” his
fellow ; but he has more effectually robbed his own immortal individuality of its
greatest adornment and capacity to enjoy life.
A disposition to speculate beyond their means has been a prevalent cause of
failure with many. In doing this we hesitate not to risk our creditor’s interest
with our own. Many failures can be traced to this cause. In speculation we
should ever observe a cautiousness proportionate with our means. It is ques­
tionable whether we have a right to risk either our creditor’s or our family’s
interest in uncertain speculation.
These are some of the causes of failure. There are other and greater ones,
which we will reserve for our next.
f b a n k l in .
THE HAVANA CIGAR TRADE,

The Havana correspondent of the New Orleans Delta writes :—
The number of cigars stated in the Balanza to have been exported from the
whole island in 1854 is 251,313,000, which are valued at one million one hundred
and thirty thousand five hundred and eighty-seven dollars, eighty-seven-and-a-half
cents.
I have a pretty intimate personal knowledge of the cigar trade, and substantially
state my belief that the lowest average value that can be put upon the cigars
exported from this city is fifteen dollars per thousand, whilst the Price Current for
1854 (a very reliable'authority) places the number of cigars exported from this city
alone, in that year, at nearly 264,000,000 ; and I believe the same rule would
apply to almost every article exported. Then there are millions of cigars of
which no entry is made at the custom-house, to avoid the seventy-five cents per
thousand export duty.
It will scarcely answer for me to let the public into all the little secrets of our
trade in cigars, but I positively affirm that not one-tenth of the things retailed in
the United States as Havana cigars have been manufactured in this city.
BUTTER ADULTERATED WITH

FLINT STONE.

Astounding as is the announcement at the heading of this paragraph, says an
English paper, it is nevertheless true. Butter is adulterated with flint stones.
This heartless and wicked fraud is especially practiced in the low kinds
of butter usually sold in large manufacturing towns to the poorer and
industrious population.
The flint stones are ground and then chemically
manipulated until they are reduced into a soluble substance, which is
known by the denomination of “ soluble silica.” When this latter preparation
is dissolved in water, it becomes a stiff gelatinous body, somewhat resembling
strong jelly. This jelly is mixed to a considerable extent with butter of low
quality, to which fresh salt and coloring matter are added. The product of this
villainous adulteration is a compound which resembles a very good-looking dairymade butter. But it has not the firmness or bright appearance of genuine butter,
and is devoid of the richness and wholesome qualities of the latter. W e have
seen this gross adulteration at the laboratories of the Northern Analytical
College, Sheffield, and we are credibly informed that Professor Calvert, of Man­
chester, has detected this fraud recently and frequently.




776

Mercantile Misecellanies.
BOSTON HALL OF ARTS.

A Boston merchant, of the progressive school, has proposed, under the title above,
a new institution for bringing inventors and the public together— a museum, not of
dead curiosities, but of living utilities. It appeals not to the sense of wonder
alone, but to all the passions and interests that go to make up life. ^ A museum of
the mechanical improvements of the age, showing what life may be and is to be,
rather than what it has been, is the idea, and if not new as a thought, it has yet
to be accomplished as a fact. W orld’s exhibitions, or “ Crystal Palaces of In­
dustry,” have been the royal forms of this idea, but like soap bubbles blown to
their utmost iridescence, they have suddenly disappeared, and left the world daz­
zled, and industry rather confounded than enlightened. The Boston plan studies
economy, utility, and permanence. The terms are made easy to the exhibitors, if
not directly profitable, and at the same time a moderate remuneration is secured
to the proprietor. The enterprise is to commence immediately, with rooms that
comprise about half an acre of floor, to be increased as soon as more space is
required. Those who have any invention or product of art, for which they are
seeking public appreciation, will be interested to know the details of this scheme,
which may be had on application to the Superintendent, E lizuk W eight , Esq.,
o f Boston.
THE ALUM OF CHINA.

It appears by Dr. Mackgowen’s Chinese Serial, that the mineral known in
commerce as alum, is largely employed by the Chinese in dyeing; and to some
extent in paper-making, as with us. Surgeons apply it variously, after depriving
it of its water of crystalization, and in domestic life it is used for precipitating
vegetable substances suspended in potable water. It is used also by the Chinese
in a manner peculiar to themselves. Fishermen are usually provided with it, and
when they take one o f those huge Khizostoma which abound on the coast, they
rub the animal with the pulverized styptic, to give a degree of coherence to the
gelatinous mass. Architects employ it as a cement in those airy bridges which
span the water-courses. It is poured in a molten state into the interstices of the
stones; and in structures not exposed to constant moisture, the cohesion is perfect;
but in damp situations it becomes a hydrate, and crumbles. Alum was first in­
troduced into China from the west; and until a comparatively recent period, the
best kind, called sometimes Persian, and at others Boman alum, was brought
from Western Asia. Numerous localities where an inferior article is manufac­
tured are mentioned in the pharmacopoeia. That from Sz’-chuen is represented
as having the property of converting iron into copper, or of coating iron with
copper, by placing the former metal in a solution of rice-liquor and alum, the
stone of that province.
SPECULATION— MONEY MAKING.

To make money, and to make it rapidly, is one o f the accredited social sciences
of which the great multitude are the dull students, and the select few the practiced
adepts. But its spirit is, nevertheless, universal; and, without any exageration,
it may be said to form a part of the life and active aspiration of the present gen­
eration. It pervades all classes, from the noble, in his palace, to the artisan, in
his cottage. Its generic form is speculation; and if we cast a glance around




Mercantile Miscellanies.

Ill

society, we shall be amazed at its extent and influence. Everybody in these days
speculates. The man who “ has no speculation in his eye ” is considered as only
fit to be a hermit, we were going to say a parsoD, but as the cloth is well died in
the yellow of Mammon, we will say a Bedlamite, or a philosopher with “ specta­
cles on nose,” who look at ships and cotton-mills, and wonders what they are. W e
find the merchant, in his counting-house, is a speculator. He subscribes to great
adventures for the sake of great gains, probably otherwise. He knows he cannot
trade without risking much, and the profit and loss account in his ledger is conse­
quently the fervid page on which his attention is constantly fixed. It is the same
with the banker : “ he lends at usury,” under the disguise of discount, so that he
is pre-eminently a speculator, morally obnoxious, but expediently useful. The
manufacturer and trader follow in succession; then come the intermediate and
lower classes, the catalogue of whose doings would fill the largest blue-book that
ever was imagined by the most enthusiastic collector of statistics. Finally, we
have the gambling fraternity— men “ who work the oracle” in the city as well as
at the “ corner.” This is the lowest and vilest description of speculation, for we
find the betting-and-dice-tlirowing vagabonds robbing and murdering one another;
the city men forging dock-warrants, embezzling the money of depositers in their
banks, and crossing ledgers to delude an unsuspecting proprietary.
HOW TO TREAT ROBBERS.

W e are inclined to think thatBowland Hill’s remarkable conduct to a highway
robber, whom he reclaimed with great kindness, and took into his employ, might,
in many instances, be adopted by merchants and others, towards dishonest sales­
men or clerks. In a funeral sermon, preached at the decease of the reformed
“ highway robber,” Mr. Hill said :—
“ Many persons present were acquainted with the deceased, and have had it in
their power to observe his character and conduct. They can bear witness that I
speak the truth when I assert, that, for a considerable number of years past, he
has proved himself a perfectly sober, honest, industrious, and religious man ; faith­
fully performing, as far as lay in his power, the duties of his station in life, and
serving .God with constancy and zeal. And yet this very man— this virtuous and
pious man— was once a robber on the highway. More than thirty years ago, he
stopped me on the public road, and demanded my money. Not at all intimidated,
I argued with him ; I asked what could induce him to pursue so iniquitous and
dangerous a course of life. “ I have been a coachman,” said he, “ but am now
out of place; and not being able to get a character, can obtain no employment,
and therefore am obliged to resort to this means of gaining a subsistence.” 1
desired him to call upon me ; he promised he would; and he kept his word. I
talked further with him, and offered to take him into my service. He consented;
and, ever since that period, he has served me faithfully; and not me only, but he
has faithfully served his God. And instead of finishing his life in a public, igno­
minious manner, with a depraved and hardened mind, as he probably would have
done, he has died in peace, rejoicing in hope, and prepared, wre trust, for the
society “ of just men made perfect.” ’Till this day, this extraordinary occurrence
has been confined to his breast and mine : I have never mentioned it, even to
my dearest friend.”
HOW THE ENGLISH GROCERS ADULTERATE PEPPER.

A new discovery has been i ade by the English grocers, who are always alive
to an opportunity of advantage in trade. They have discovered that from ten to
twenty per cent of hard wood raspings may be added to a quantity of pepper




778

Mercantile Miscellanies.

without danger of discovery, excepting by chemical analysis; and hard wood
being a great deal cheaper than the genuine article, it has come to be extensively
used. In a recent police case in London, it was proved that a considerable amount
of brownish colored powder, which had been sold as pepper, consisted, in reality,
of only fifty parts of pepper, mingled with forty parts of rice and ten parts of
wood.
JVEW YORK COTTON MARKET FOR THE MONTH ENDING NOVEMBER 28.
PR E PA R E D FOR THE MERCHANTS’ M AG AZIN E B Y CHARLES W . FREDERICK80N, BROKER, N E W YORK.

Since the date of my last monthly report, October 24th, our market has— with
the exception of the week closing at date— been excessively dull and heavy, at a
decline of }c. to |c. per pound. The transactions for the home trade have been
less than actual consumption, and the export demand has been confined in its
operations to a small circle. Prices here and at the receiving ports have suffered
from the continued heavy receipts and the good quotations of cottons, neither of
which was anticipated by the early purchasers and believers in a crop of 2,800,000
bales.
The foreign markets, under stringent monetary circumstances, have been well
supported, and have aided materially to strengthen the position of holders here,
under the influence of large receipts. Our stock on hand is estimated at 50,000
bales, but is not likely to be increased while the present high prices exist at the
Southern ports. /•
The sales for the week ending October 31st were 6,000 bales, market closing
quiet at the following :—
P R IC E S

ADOPTED

OCTOBER 3 1 S T

FOR

Ordinary.............................................
Middling............................................
Middling fa ir ....................................
Fair.....................................................

THE

F O L L O W IN G

Q U A L I T I E S :-----

Upland.

Florida.

Mobile.

N. O. & Texas.

10}
12}
12}
13

10}
12}
13
13}

10}
12}
13}
131

10}
12}
13}
14

The operations for the week ensuing were 7,500 bales, the market closing with
more tone than at which it opened, under favorable foreign advices and frost ac­
counts from the South. Holders, however, were not unwilling sellers at the an­
nexed quotations :—
P R IC E S

ADOPTED

NOVEM BER

7tH

FOR

THE

Upland.

Ordinary................................ ,........ ...
Middling.............................................
Middling f a i r ....................................
Fair.....................................................

101
121
12}
13

F O L L O W IN G

Florida.

101
121
121
13}

Q U A L I T I E S :-----

Mobile. N. O. & Texas.

101
121
18}
13}

10}
12}
13}
14

The demand for the week ending November 14th did not exceed 5,000 bales,
at a decline of fully }c. per pound. Holders were anxious to realize at the fol­
lowing figures, but buyers were not disposed to proceed, under unfavorable foreign
accounts and large arrivals at the South.
The market closed heavy at the
following :—
P R IC E S A D O P T E D N O VEM BER

14tH

FOR

TH E

Upland.

O rd in a ry...............................................
M id dlin g...........................................
Middling fair..........................................
F a ir ....................................................




10£
12
12}
12}

F O L L O W IN G

Florida.

10£
12
12}
13

Q U A L I T I E 8 :-----

M obile. N. O. &. Texas.

10£
12}
12}
13}

10£
12}
13
13}

119

The Book Trade.

For the week ending November 21st the sales were 6,500 bales, principally
for export, at prices slightly in buyers’ favor. A t the close of the week our
market assumed more firmness, as the quantity on sale lessened, and the annexed
quotations were more readily obtained :—
PRICES ADOPTED NOVEMBER 2 1 s t FOR THE FOLLOWING QUALITIES:---U p la n d .

Ordinary...........................................
M iddlin g..........................................
Middling fair............... ....................
F a ir....................................................

10$
12
12$
12$

F lo rid a .

10$
12
12$
13

M o b ile .

N .O .& T e x a s .

10$
12$
12$
13$

10$
12$
IS
13$

The transactions for the week closing at date have been large, the sales reach­
ing 12,000 bales, without alteration in price from those last quoted. Any dis­
position to advance is checked by the continued large receipts, and which are
now in excess of last year by 8,000 bales. Our market closes steady at the fol­
lowing :—
PRICES ADOPTED NOVEMBER 2 8 T H

FOR THE FOLLOWING QUALITIES:----

Upland.

Ordinary..............................................
Middling..............................................
Middling fa ir......................................
Fair......................................................
Receipts to date .......................... bales
Export to Great Britain........................
Export to France...............................
Stock on hand..........................................

10$
12
12$
12$

Florida.

10$
12
12$
13

732,000
122,000
64,000
428,000

Mobile. N. O. & Texas.

10$
12$
12f
13$

10$
12$
13
13$

Increase
8,000
Decrease 143,000
Decrease 15,000
Increase 96,000

THE BOOK TRADE.
1 .— Artie Explorations; The Second Grinned Expedition in search of Sir John
Franklin, 1853, ’54, ’55. By E lisha K ent K ane , M. D., IT. S. N . Illus­
trated with upwards of three hundred Engravings, from Sketches by the
Author. 2 vols., 8vo., pp. 463 and 467. Philadelphia : Childs & Peterson.
The Second Grinnell Exploration, as recorded in the present volume, possesses a
value and interest scarcely less than the first. It is not a record of scientific in­
vestigations ; for Dr. Kane while engaged, under the orders of the Navy Depart­
ment, in arranging and elaborating the results of the late expedition to the
Arctic Seas, availed himself of the permission of the Secretary to connect to­
gether the passages of his journal of interest to the general reader, and has now
presented the adventures of the party in an exceedingly attractive form. The
volume is copiously illustrated with engravings from sketches made on the spot.
W e cannot too highly commend the fine taste and liberality of Messrs. Childs
& Peterson, for the more than creditable manner in which they have produced the
present work.
It is an honor to the genius of the country.
The engrav­
ings on steel and wood are as faultless as human skill could produce them. We
are gratified to learn that Messrs. Childs & Peterson have purchased the stereotype
plates of the “ First Grinnell Expedition,” by the same author, which they have
improved by the addition of new illustrations, together with a fine steel portrait
of Sir John Franklin, and a sketch of his life, from Allibone’s forthcoming Dic­
tionary of Literature and Authors, and will hereafter issue it in a style to corre­
spond with the volumes before us. W e have no hesitation in saying that the
publishers of these volumes are taking the lead in the production of modern
works, which are sure to stand the “ test of time.”




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The B ook Trade.

2 . — Cyclopedia of Modern Travel; A Record of Adventure, Exploration, and
Discovery, for the past fifty years. Comprising Narratives of the most distin­
guished Travels since the beginning of this Century. Prepared and arranged
by B ayard T aylo r . Illustrated with maps and engravings. 8vo., pp. 955.
Cincinnati: Moore, "Wilstack, Keys & Co.,
Bayard Taylor is well and favorably known as one of the most successful and
enterprising travelers of the present century. He is still quite a young man, but
has already acquired a reputation as a faithful and graphic limner of men and
things in foreign lands, which entitle him to the first rank in the catalogue of
modern tourists. The enterprising publishers acted wisely in securing his aid in
the preparation of the present work. The achievements of modern exploration,
including the present half-century, and covered in the present work, are distinctly
marked by Mr. Taylor. Within that time our own vast regions have been accu­
rately determined, the great fields of Central Asia have been traversed in various
directions, the half-known river systems o f South America have been explored
and surveyed ; the icy continent around the Southern Pole has been discovered ;
the North Western Passage has been found, the Dead Sea stripped of its fabu­
lous terrors, &e., &c. But we have not space to enumerate the results which it
is the design of this book to present in a compact and, as far as possible, complete
and satisfactory form. The book opens with the life and travels of Humboldt,
and embraces the lives of some fifty travelers and explorers. The volume is copi­
ously illustrated with maps and numerous fine engravings. The plan is excellent,
and we regard it as one of the most comprehensive works of its class added to
our literature during the last half-century.
3.

— A Biographical Sketch of Henry A. W ise ; with a History of the Political
Campaign in Virginia in 1855. T o which is added a Review of the Position
of Parties in the Union, and a Statement of the Political Issues, distinguishing
them on the Eve of the Presidential Campaign of 1856. By J ames P. H ambleton , M. D.
8vo., pp. 519. Richmond : J. W . Randolph.

The biographical sketch of the distinguished Virginian is quite brief, covering
only some forty of the five hundred pages of the volume. H e however presents
a comprehensive sketch of his political life to the present time. Dr. Hambleton
leaves, he informs us, the interim of Governor Wise’s life, with the particulars of
his antecedents and his subsequent course, to “ be chronicled,” as the author
modestly adds, “ by one more skilled, more competent, and more practiced.” The
aim of the author was to present a full account of the operations of the secret
political society, known as the Know-Nothing Party, in Virginia in 1855. This
Dr. Hambleton has pretty fully done, in the hope, as he adds, of presenting
“ something useful to the living, and which may guard the unthinking, in after
generations, against the machinations of any secret sect, clique, or party, that may
have for its object a usurpation of the government and its spoils, by any other
course than the popular voice.” He aeeordingly presents the arguments of the
ablest men in the land, both as speakers and writers against Know-Nothingism,
coupled with their defense of the principles of the Democratic party. This ac­
count of Know-Nothingism in Virginia and other sections of the Union may
hereafter form an interesting chapter in the political history of the past. It is
an “ ism ” which will not stand the test of our free republican institutions.
4. — Lorimer Lilllegood, E sq .: A Voung Gentleman who wanted to see Life and
saw' it accordingly. By F rank E. S medley , Esq., author of “ Louis Arundel,”
“ Frank Parleigh,” etc. 12mo., pp. 322. New York : E. D. Long.
The title indicates pretty clearly the idea of this work, and that idea is clearly
and graphically developed in the life of Lorimer Littlegood. W e read “ Prank
Farleigh,” by the same author, some years ago, with more than ordinary interest, and
that is saying a good deal, as we do not average the perusal of one novel a year,
our time being too much occupied with the realities of this “ work-day tvorld” to
indulge in such luxuries. It has one striking illustration.




The Book Trade.

781

5. — The British Essayists; with Prefaces, Historical and Biographical. By A .
C halmers , F. S. A . Volumes xix., xx., xxi. Boston: Little, Brown &
Flagg.
W o have noticed, as they appeared, the eighteen preceding volumes, (including
“ The Tattler,” “ The Rambler,” “ The Spectator,” &c.,) of this tine edition of
the English Essayists. The present volumes, covering some nine hundred pages,
are devoted to the “ Adventurer,” which was pi'ojeeted in 1752, soon after the
“ Rambler” was concluded. The authors of these essays were among the most
accomplished scholars of the times, and there is a rich vein of thought and an
elegance of diction running through the whole series, that have contributed
largely to secure for them an enduring place among the standards of old English
literature, and a value which must ever be held in the highest esteem by the culti­
vated minds of our own time. W e cannot too highly commend the enterprising
publishers for reproducing the entire series, in a style so well adapted to the wants
o f those who can afford the outlay of a cheap and valuable “ family library.”
6. — Audubon, the Naturalist of the New W orld; His Adventures and Discov­
eries. By Mrs. H orace S t. J ohn. Revised and corrected, with additions,
and illustrated with engravings by J. W . Orr, from original designs. 12mo.,
pp. 311. New Y o rk : 0 . S. Francis & Co.
The materials of this interesting narrative appear to have been derived from
Audubon’s more elaborate works, from the recollections of his friends, and from
fragments published in the United States. The writer follows the adventurous
American through these episodes of romance and discovery, which constituted the
most interesting features of his character and career as a naturalist. The ardor
and enthusiasm of Audubon give freshness, and vigour, and an almost natural
coloring to his descriptions. In early life, Audubon engaged in various branches
of commerce, and it is not matter of surprise, that with one whose mind was en­
amored of opposite pursuits, they did not prove profitable. It is a capital
reading book, not only for the young, but for those who are fond of the beauties
of nature, which are often more wonderful than romance.
7. — The British Essayists; with Prefaces, Historical and Biographical. By A .
C halmers , F. S. A .
Yols. xxii., xxiii., xxiv.
Boston: Little, Brown
& Co.
The three volumes before us contain the papers published under the general
title of “ The World.” These essays differ somewhat in scope and character
from other essayists embraced in this collection. Fun, says Mr. Chalmers, the
'accomplished editor, is the predominant feature; a figure of rhetoric, and an ex­
pression of contempt, which requires delicacy in order to be successful, and pure
intention, in order to be safe. The World affected to consider the follies of their
day as beneath their serious notice, and therefore tried what good might be done
by turning them into ridicule, under the mask of defense or apology. The
second edition o f “ The W orld” was published in six volumes, to each of which
was prepared a dedication. In all subsequent editions it was published in four;
and three of the dedications prefixed to the last volume. In the present edition
they are reprinted together, as have been done with the Tattler, Spectator,
and Guardian.
8. — Worth and Wealth; a Collection of Maxims, Morals, and Miscellanies for
Merchants. By F reeman H unt, Editor of the “ Merchants’ Magazine,”
“ Lives of American Merchants,” etc., etc. New Y ork : Stringer & Townsend,
W e arc too nearly connected with this book to speak of it with perfect
disinterestedness; but we may be permitted to say, without egotism, that its
success, in a mercantile point of view, has thus far more than realized our expec­
tations, (which are never over sanguine,) and further, that we think the principles
inculcated in its pages are calculated to improve the character and advance the
best interests of the commercial and industrial classes. Our publishers have just
issued a sixth edition in a very beautiful style, designed expressly as a gift book,
which we hope the merchants throughout the country will put into the hands of
young men in their employ.




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9. — The Russian Em pire: Its Resources, Government,, and Policy. By a
“ Looker on” from America. 12mo., pp. 390. Cincinnati: Moore, Wilstack,
Keys & Co.
Russia, whatever may be said in Republican America of its absolutism, has
ever been friendly to the United States. In the opening chapter the author
maintains with reason, that there should be an American opinion of Russia,
founded, not upon European prejudices, but on facts. W e are strongly inclined
to the opinion elucidated in this volume, that England, and particularly Prance,
■were actuated in the “ Eastern Question” by a national ambition, rather than any
regard for humaD liberty; and that they were anxious not only to check Russia,
in the East, but to repress also the growth of the American States beyond the
limits which they choose to assign. If this opinion is well founded, we, as
Americans, should study Russia for ourselves, and not trust hereafter, as we
have done, to representations which reach us through channels likely to
distort or discolor the truth. Although this work was written during the
struggle of the allied powers with Russia, it presents statements and principles
of permanent interest. Such, for instance, as are contained in the chapters
on the Self-Development Policy of Russia, the Future Relations of Russia
and America to each other and the W orld ; the Commerce of Russia and the
East, &c. It is, on the whole, a well-written and well-considered work, containing
a large amount of reliable information, and not, in our judgment, of course, the
less valuable on account of that portion, in one or two chapters, which is borrowed
from the pages of the Merchants' Magazine, but not without credit or compliment
on the part of the author.
10. — Early History of the University o f Virginia; as contained in the Letters
of Thomas Jefferson and Joseph C. Cabell, hitherto unpublished. W ith an
Appendix, consisting of Mr. Jefferson’s Bill for a complete system of Educa­
tion, and other illustrative documents; and an Introduction, comprising a brief
Historical Sketch of the University, and a Biographical Notice of Joseph C.
Cabell. 8vo., pp. 528. Richmond : J. W . Randolph.
This volume contains a full and complete history of the University of Virginia,
and particularly of the early efforts to establish that famed seat of learning. The
correspondence between Mr. Cabell, the Rector of that institution, and Mr. Jeffer­
son, embodied in the present volume, give ample details of these efforts. But few
of Mr. Jefferson’s letters in this series are to be found in the editions of his works
heretofore published under the auspices of the government. It is well remarked
by the compiler of the work, that the letters will be read principally for their
matter; yet their unstudied character give them a present and life-like interest,
which often evaporates from more formal documents. These of Mr. Jefferson,
present certain traits of the patriot, and of the man, in as favorable, if not more
attractive light, than does any former publication. W e were ever sincere admir­
ers of the political principles of Mr. Jefferson, and prize the present volume as a
rich contribution to our own collection of American books, and shall place it
along with the two editions of his works on the shelves of our library.
11. — Allha, or Shells from the Strand. By Mrs. A d a M. F iel d . 12mo., pp. 300.
Boston : James French & Co.
A pleasant offering of “ love, hope, and duty,” as our fair countrywomen ex­
presses it, of love for “ noble hearts, unchanged by time’s stern teachings ; hope
that may strengthen some fond heart yearning for the good, yet lingering by
the way-side; and duty, that whispers in spirit-voices, on, ever on, toward
the right, where shines the Eastern Star, emblem of God and nature’s light and
love.” These “ pictures of home life” appear to be drawn from her own experi­
ence or imagination. The volume is dedicated “ to the esteemed friends and
respected citizens who generously encouraged the authoress to publish the manu­
script.”
These pure and delicate “ thoughts and things ” are impressed in
distinct type on snow-white paper, and altogether form a fittingly beautiful book
— one that may be read with delight by all who would “ keep innocency and take
heed to things that are right,” as the good book has it.




The Book

Trade.

783

12. — California in Doors and O ut: or how we Farm, Mine, and Live generally in
the Golden State. By E liza W . F arnham . 12mo., pp. 505. New Y ork :
Dix, Edwards & Co.
It will be recollected by some of our readers that Mrs. Farnham, the writer of
this book, lost her husband, who died in San Francisco in September, 1848, a
circumstance that seemed to render her visit to California in the following year
expedient. With a desire to accomplish some greater good by her journey thither
than the necessary attention connected with the private affairs of her husband,
and correctly believing that the presence of woman would be one of the surest
checks upon many of the evils that were apprehended there, she attempted to
form a company of lady emigrants, but in consequence of ill-health she only suc­
ceeded in taking out three. The present volume embraces the in-door and out­
door life of an accomplished, energetic, strong-minded woman, and a variety of
information relating to California farming and mining. Her delineations of the
anomalous, unique life of the Californians, do not appear exaggerated ; indeed we are
inclined to think, from our personal knowledge of the sound judgment and integrity
of Mrs. Farnham, that she has “ fallen short of conveying the full impression,
which actual, every-day facts make upon thoughtful minds” in California. It is
nevertheless the most faithful and graphic description of the “ Golden State” we
have seen, and it is as readeable as (it is undoubtedly) reliable.
13. — Knights and their Days. By Dr. D oran , author of “ Lives of the Queens
of England of the House of Hanover,” “ Table Traits” “ Habits and Men.”
12mo., pp. 479. New Y ork : J. S. Bedfield.
The whole spirit and genius of knighthood is historically and, we may say,
picturesquely portrayed in a very clever style by the author of the present
volume. W e have the kings of England as knights, from the Normans to the
Stuarts, and to Brunswick and the knights who “ grew tired of it,” and a great
varity of curious matter pertaining to the character of knightly men and women.
The author excels in writing books that furnish food for interesting, if not pro­
fitable table talk.
14. — Second Class Reader.

By Hon. G. S. H illard .
W e have just been delighted by examining the proofsheets of this addition to
the First Class Reader, issued by Mr. H. a few years ago, and now in use in so
many of the best seminaries. Our eye was attracted to some excellent pieces by
the editor of this magazine, and never rested till it had explored the whole from
beginning to end. W e are able to say, understandingly, there is no better Second
Class Reader in existence— nor do we ever expect to see another so good. And,
pleasant indeed it is, to see men of Hilliard’s talent, taste, reputation, learning,
experience, devote themselves to so humble a task in so noble a spirit.
15. — Vagabond Life in Mexico. By G abriel F erry , for seven years a Resident
in that Country. 12mo., pp. 344. Harper & Brothers.
The opportunities afforded a seven-years’ resident of a country for acquiring
a knowledge of the life and character of the people, &c., are much better than
that of the traveler who hastens from place to place, and only “ jots down” first
impressions, which are more or less liable to be tainted with the peculiar prej­
udices of the traveler. Mr. Ferry’s book is amusing, and possesses many of the
attractions of a romance.
16. — Anthony Burns: A History. By C harles E mery S tevens . 12mo. pp.
29§. Boston ; J. P. Jewett & Co.
The extradition of Anthony Burns, a fugitive slave, is the most memorable
case of the kind that has ever occurred (or probably ever will) since the adoption
of the Federal Constitution.
The author was present at the Fanueil Hall
meeting, and witnessed the attack on the Court House, and throughout the trial
of Burns had a seat within the bar. In short, he seems to have taken a deep
interest in the whole matter, and has given a well-written history of it from
first to last.




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The Book Trade.

17.— Ancient History: Containing the History of the Egyptians, Assyrians, C
deans, Modes, Lydians, Carthagenians, Russians, Macedonians, the Seleucidi
Syria, and Parthians, from Rollin and other Authentic Sources, both Anc
and Modern. By E dward F arr . In four Volumes. 12mo., 1200. <
cinnati: Moore, Wilstack, Keys & Co.
That portion of this history which has been derived from Rollin is entirely re­
written, to which Mr. Farr has added much additional information, accumulated
since the time of that historian. The information derived from other sources than
Rollin is of a two-fold character, geographical and historical. All the bes*
ancient and modern geographers and historians appear to have been consult
and the best results of their labors included in the present volume. A distingui .
ing feature of the work is the concentrated view it affords of the countries am
cities which the different nations inhabited, which are to be found in the variou physical and topographical sections. Great as are the uncertainties of history
this work, in all probability, contains the most reliable history to be found oLewpnl
transpiring during the period it covers.
18. — Memoir of the Life of Harriet Preble: containing portions of
Carre;
spondence, Journal, and other Writings, Literary and Religious. B ^4jfrof.i.R. ,
H . L ee , L.L. D. 12mo., pp. 409. New Y o rk : G. P. Putnam & lj£},
{
The childhood and youth of the interesting subject of these mei^jSr&^fere
passed in Paris. She was educated in the celebrated female institut*pa\Q.f' ihe/
famous Madame Campan, in which so many of the most accomplisheVjSTenjh
and English females were educated. A t school she was marked for heAtftajary
attainments. She removed to this country, where she died February 4tlvH+e4T’
This is a most excellent volume, calculated to benefit all who feel an interest in the
lives of the wise and good. The first portion of the book presents the literary
life, studies, and writings of Miss Preble ; the last portion exhibits her religious
life, character, and writings. She was eminent for great literary talent and fervenv
piety. The many incidents in lives of celebrated persons, and Miss Preble’s cor­
respondence with eminent individuals, makes the book attractive as well as
beneficial to the general reader.
19. — Theological Essaysfrom Various Authors.
can Unitarian Association. Boston, 1856.

By G. R. N oyes , D. D.

Ameri

This thick duodecimo is an exceedingly interesting, valuable, and able exposition
of the progress of theology. It furnishes at a low price the cream of several
recent English works, which are not likely to be published on this, side of the
water. Professors Jewett and Poweil, the statesman Guizot, Stanley, the Canon
of Canterbury, furnish the better part in amount as well as spirit. Nine-tenths
are from the Church of England, showing its thorough sympathy with the more
advanced religionists in America. W e wish this collection an extensive circula­
tion, because many of its topics have never been handled with so much learning,
liberality, candor, and spirituality before.

E rrata .— In the table of contents to the November number, article on the
“ Cotton Trade,” our printer inadvertently spelt the name of our esteemed corre­
spondent wrong, substituting “ Griddle ” for Gribble. An important typograph­
ical error occurs in the article of Mr. Gribble, on page 552 of the Magazine,
where the author is made to say, “ 250,000 bales were kept back by the lowness
of the prices,” instead of the rivers.