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H U N T ’S

MERCHANTS’ MAGAZINE.
E s t a b li s h e d J u ly ? 18 3 9 , b y F r e e m a n H u n t .

VOLUM E X X X IX .

CONTENTS

DECEMBER,

OF

1 858.

NO. VI.,

NUM BER V L

VOL.

XXXIN.

ARTICLES.
A p.t .
page
I. LOW ELL AND THE COTTON M A N U F A C T U R E .......................................................... 659
II.

TRAD E OF FRANCE. France under the Empire—Causes o f Greater Activity—G o ld General Cause—Causes Peculiar to France—Comparative Exports - Affairs in France—
Progress o f Wealth—United States and France—Floating Capital—Absorbed in Buildin g—Commercial Policy of France—General Commerce Tables—Official Value—Actual
Value—Sx>ecial Commerce Tables—Increase of Values—Decline in 1857—Exports from
France — Quantities and Values—Dry Godds—Silks—Wines—Imports into France—
Quantities and Values—Import of Spirits-Duties on Grain—Effect o f free Corn Trade—
Belgium Imports—Cattle—R ice-Su gar—Free Trade Progress—Exchanges with Differ­
ent "Countries—IS47-1857—Average Increase—Commercial Cities o f France—Paris, the
Center—Specie Movement—Imports and Exports of the Metals—Gain to France—Bank
of France—Purchases of Gold—United States Bills—Quantity o f Gold B ough t- Premium
P a id -L in e o f Discounts—Dividends Paid per Share—Increase o f Capital—Release o f
Usury Restraint—Effect on Discounts—Branch Operations—Accumulation o f the Metals
—Comparative Tonnage—Customs Revenue........................................................................... 675

III. COMMERCIAL AND INDUSTRIAL CITIES OF THE UNITED STATES. No. l i x .
EVANSVILLE, IN DIANA. Situation o f the City—Formation—Origin o f Name— -eat
of Vanderburgh County- Incorporated—First Tax List—Routes to Market—Depot for
Boatmen—State Bank—Internal Improvements—Canal—Railroads—Inflation o f 1836—
Completion of Canal—Surrounding Soil—Mineral Wealth—Iron Works Coal—General
Advantages—Progress of Railroads— Population and Trade—Merchandise Sales—Gro­
cery Business—Dry Goods Business—Ready-made Clothing—Manufactures—Foundries
—Furniture—Starch Factory—Paper Mill—Ship-yard—Commission Business—Table o f
Exports—Tobacco Market—Hay—Flour—Steamboats—Banking—State Bank—Bank of
the State of Indiana—Insurance Companies........................................................................... 681
IV. W EIGHTS AND MEASURES. Increase of Commercial Relations—Diversity of Stand­
ards — Difficulties arising from it — Attempts at Uniformity—Early Introduction of
Measures — The xirk — Derivation of Measures—Hebrew System—English System—
Grains—Stone—Hand and Foot—French ell—Anglo-Saxon Law—Magna Charta—Stand­
ards kept by Speakers of House of Commons—Importance of Uniformity—Three Stand­
ards—Weight. Length, Capacity—Complication of xYrithmetic—Divers Modes o f Reduc­
tion—Local Weight — Bushel—Acre—Stone — Necessity o f an International S ystem Elements Required—Unit of Length—Diameter of the Earth—French mode ot Estab­
lishing the Unit—Progress of the Metrical System........... . ................................................ 691
V. FACTS REGARDIN G GOLD. Locality o f Gold Mines—Color o f Gold—First Mention
of—Relative Value to Silver, B. C.—Change in Relative Value—Bible Mention—Metals
in early Greece—Coins—Daric—Mines o f Thrace—Gold at Rome—Value o f a cubic
inch— Gold now in the World—Russian Mines—American—Australian—Annual Pro­
duct-Quantity of Gold at various Periods—Coinage of United States, France, Great
Britain, and Russia—Wear and Tear—Gold Coins first issued in England—United States
Commission. B y D av id M. B alfour, Esq., of Boston, Massachusetts............................. 699

J O U R N A L OF M E R C A N T I L E

L AW.

Stock Dealing........................................................................................ .................................................. 702
Freight on Damaged C argo................................................................................................................... 706
Recovery of Duties on Seized Goods ................................................................................................ 7Qf

C O M M E R C I A L C H R O N I C L E AxND R E V I E W .
Business o f the Month—Imports of Goods—Reduction of Stocks—Manufactures—Raw Mate­
rials— Dullness o f Construction—Receipts and Payments—Specie in Banks—Specie Move­
ment—Exports o f Boston and New York—Destination of Specie—Assay-office—Gold sent
South—Rates of Bills—Remittances—Interest Abroad—Specie and Interest—Banks o f Paris
And London—Purchases o f Gold by Bank of France—Cost of Gold—Dividends—Resumption
in Austria—Good Position of Crops—State of Imports—Decline o f Revenues—Government
..................................................................................................................................................7US-T15

LoaI1

V O L . X X X I X .-----N O . V I .




42

658

CO NTENTS

OF

N O . V I ., V O L . X X X IX .
PAGE

J O U R N A L OF B A N K I N G ,

CURRENCY,

A ND F I N A N C E .

Philadelphia “ Clearing” H o u s e ..................................................................................................... . . . 716
City Weekly Bank Returns—Banks of New York, Boston, Philadelphia, New Orleans, Pitts­
burg, St. Louis, Providen ce............................. .................................................................................. 717
Progress of Wealth in Connecticut.—Losses by Bank Failures in Great Britain.......................... 721
Banks o f Newark, New Jersey.—St. Louis Valuation and T ax........................................................ 722
Debt of the City of Alton, Illinois.—Taxable Property of San Francisco..................................... 723
Condition of the Banks of Maine.—Debt of Tennessee .................................................................. 724
Resumption of Cash Payments by the National Bank of Austria.................................................... 725
Banks of Switzerland in 1857 ................................................................................................................ 726
Finances of Verm ont......./ . ................................................................................................................... 727

STATISTICS

OF T R A D E

AND

COMMERCE.

Exports of Cotton from the United States to Foreign Countries....................................... ...........
General Statistics of the West- Indies...................... ............................................................................
Receipts of Texas Sugar at G alveston................................................................ ................................
United States Trade with Russia.—Spirits consumed annually in Great Britain ..........................
Export of Breadstuff's from the United States.—British and Foreign Shipping and Exports
Imports of Denmark and the Duchies. ................................................................................................
Tea Exports from China to United states.—Commerce of Richmond, Virginia............................
Vegetable and Truck Trade of Norfolk, Va —Texas Cotton.............................................................
Trade of Bengal.—Coffee Crop of Brazil...............................................................................................
Flour Inspections in Virginia.................................................................................................................

COMMERCIAL

727
728
729
730
731
732
782
733
734
735

REGULATIONS.

Coton Azotique, or Gun Cotton.—Tamarinds Preserved in Sugar.................................................... 735
Cotton Socks with Dyed Tops.—Spring Steel...................................................................................... 736
“ Shaved Shingles.”—“ Walnuts in Salt and Water.” —11Limes Preserved in Salt and Water.” . . 737

NAUTICAL

INTELLIGENCE.

Eock off the entrance to Portsmouth, N. II......................................................................................... 738
Entrance to the River Thames, Princes and Horse Channels........................................................... 738
Light-vessel off the North Hinder Bank, Coast of Holland.............................................................. 739
Bell Beacon Vessel off the Schouwen Bank, Coast of Holland......................................................... 739
Fixed Light at Port Cudillero—Atlantic, Coast of Spain.................................................................. 739
Fog Signals on board United States Light-vessels....................................................................... — 739
Temporary Lights at Holyhead old Harbor, Wales.—Lights and Fog Signals............................... 740
Maplin Sand—England, East Coast................................... ................................................................. 741
Rock off Lundy Island—England, West Coast.................. .................................................................. 742
Light-vessel off Handkerchief Slioals— Vineyard Sound, Mass......................................................... 742
Fixed Light on Cape Cullera—Mediterranean, Coast o f Spain......................................................... 742

JOURNAL

OF

INSURANCE.

Maryland Insurance Law......................................................................................................................... 743
English Marine Insurance.—Massachusetts Act concerning Mutual Fire Companies................... 745

POSTAL

DEPARTMENT.

United States Postal Revenue, 1858....................................................................................................... 746
Post-office Regulations.—Prepayment of Postage to Spain Optional............................................... 747
Post-office Department.—Telegraphs in Europe.—careless Posting. ............................................ 748

RAILROAD,

CANAL, AND S T E A M B O A T S T A T I S T I C S .

Railroads in Chile.....................................................................................................................................
Railway Property in Great Britain.—Baltimore and Ohio Railroad.................................................
The Canada Canals.......
Railroads in Ohio.—Tennessee Railroads.—State Interest in Railroads............................... . . . .
Railway Management.—French Railroads........... .............................................................................
Canal Trade in Virginia.— Vermont and Canada Railroad...............................................................

JOURNAL

OF M I N I N G ,

MANUFACTURES,

A ND

ART.

Hardening I r o n ........................................................................................................................................
Manufacturing at the South..................................................................................................................
The Iron Trade of the United States.—Copying-Paper....................................................................
British coal Trade.................................................................................
The British Woolen Trade.—Cotton and its Manufactures...............................................................
Machinery for Manufacturing Paper-Hangings.— Cost of Electric L ig h t.......................................

STATISTICS

UF

AGRICULTURE,

OF

POPULATION,

765
766
767
767

MISCELLANIES.

Human Hair as an Article of Traffic.....................................................................................................
W hy so few Succeed.................................................................................................................................
Scientific Paradoxes......................................................................................................
Commercial aspect of Central Africa.....................................................................................................
The History of Prices in 1S57 and 1858. —How Coffee came to be Used..........................................
Value of the Crown Jewels.—Philippine Islands.-Suppression of the Slave Trade....................

THE

760
761
763
764

&c.

Population of Great Britain...................................................................................................................
Incidents of Life.—Great Britain and France.—Population of China.—Population of Chile.......
Serf Population of Russia.—Population of Hamilton, Canada .......................................................
Population of Newfoundland.—Paupers in Ireland...........................................................................

MERCANTILE

754
755
756
757
758
759

& e.

Agriculture in Ohio................................................................................................................................
Cochineal Cultivation in Teneriffe.............................
The Production of Wines in Hungary...................................................................................................
Borgho, or Chinese Sugar Cane..............................................................................................................

STATISTICS

749
750
751
752
753
753

768
769
770
771
772
773

BOOK T R A D E .

Notices o f new Books or new E d ition s......... ................................................................................774-776




HUNT’S

MERCHANTS’ MAGAZINE
AND

COMMERCIAL REVIEW.
D E C E M B E R ,

1 8 5 8.

A rt. I.— LOWELL AND THE COTTON MANUFACTURE.
A m o n g the distinguished names of New England, that of the octogena­
rian, Nathan Appleton, has been closely connected with the manufacturing
progress of that portion of the country. He was identified with the in­
troduction o f the power loom, and has lived to see a city of 40,000 souls
grow out of his project, while the manufacture has extended in the Union
from a consumption o f 60,000 bales, 21,000,0000 pounds, to 700,000
bales, or 322,000,000 pounds, per annum. This gentlemen was solicited
by Messrs. Crowninshield, Cary, and Francis, officers of Lowell corpora­
tion, to write out some reminiscences connected with the early history of
Lowell. Mr. Appleton replied as follows:—
B oston, Septem ber 1st, 1858.

:— I have given particular attention to your interesting communica­
tion, on the subject of committing to paper my reminiscences of particulars
connected with the early history of Lowell and the cotton manufacture.
The idea of doing so has frequently been pressed upon me, and has naturally
attracted my attention. My greatest obstacle lias been the necessity which it
involves of using so much the persona] pronoun, which would appear more pro­
perly in a posthumous autobiography. Tour very kind urgency has, however,
overcome my scruples, connected with the circumstance that I am now approach­
ing the age of pardonable garrulity, which allows the octogenarian a license to
talk of himself. I am, it is true, the survivor of my early associates in this
matter. I can claim for myself no other merit than a cordial co-operation with
Messrs. Lowell, Jackson, Boott, and others, the more active parties iu establish­
ing the cotton manufacture on the principle of making every possible provision
for the moral character and respectability of the operatives. 1 naturally feel a
degree of satisfaction in the part which I have thus performed in the introduc­
tion of this manufacture, so important in every point of view to the interest of
the whole country. With these views I submit the accompanying manuscript to
your disposition, and am, very truly, your obedient servant,
D

ear

S ir s

N ATH A N APPLETON.
Messrs. F. B. Ckowninsiiizld , T homas G. Caet , and J ames B. F bancis.




660

Low ell and the Cotton Manufacture.
INTRODUCTION OF THE PO W E R LOOM.

Mv connection with tlie cotton manufacture takes date from the year
1811, when I met my friend Mr. Francis C. Lowell, at Edinburgh, where
he had been passing some time with his family. W e had frequent con­
versations on the subject o f the cotton manufacture, and he informed me
that he had determined, before his return to America, to visit Manchester,
for the purpose of obtaining all possible information on the subject, with
a view to the introduction of the improved manufacture in the United
States. I urged him to do so, and promised him my co-operation. He
returned in 1813. He and Mr. Patrick T. Jackson, came to me one day
on the Boston exchange, and stated that they had determined to establish
a cotton manufactory, that they had purchased a water power in Waltham,
(Bemis’s paper mill,) and that they had obtained an act of incorporation,
and Mr. Jackson had agreed to give up all other business and take the
management of the concern.
The capital authorized by the charter was four hundred thousand dol­
lars, but it was only intended to raise one hundred thousand, until the
experiment should be fairly tried. O f this sum Mr. Lowell and Mr. Jackson, with his brothers, subscribed the greater part. They proposed to
me that I should take ten thousand of this subscription. I told them,
that theoretically I thought the business ought to succeed, but all which
I had seen of its practical operation was unfavorable ; I, however, was
willing to take five thousand dollars of the stock, in order to see the ex­
periment fairly tried, as I knew it would be under the management o f
Mr. Jackson; and I should make no complaint under these circumstances,
if it proved a total loss. My proposition was agreed to, and this was the
commencement of my interest in the cotton manufacture.
On the organization of the company I was chosen one of the directors,
and by constant communication with Messrs. Lowell and Jackson, was
familiar with the progress o f the concern.
The first measure was to secure the services of Paul Moody, of Amesbury, whose skill as a mechanic was well known, and wrhose success
fully justified the choice.
The power loom was at this time being introduced in England, but its
construction was kept very secret, and after many failures, public opinion
was not favorable to its success. Mr. Lowell had obtained all the informa­
tion which was practicable about it, and was determined to perfect it
himself. He was for some months experimenting at a store in Broadstreet, employing a man to turn a crank. It was not until the new build­
ing at Waltham was completed, and other machinery was running, that
the first loom was ready for trial. Many little matters were to be over­
come or adjusted, before it would work perfectly. Mr. Lowell said to me
that he did not wish me to see it until it was complete, of which he
would give me notice.
A t length the time arrived. He invited me to
go out with him and see the loom operate. I well recollect the state o f
admiration and satisfaction with which we sat by the hour, watching the
beautiful movement o f this new and wonderful machine, destined, as it
evidently was, to change the character o f all textile industry. This was
in the autumn o f 1814.
Mr. Lowell’s loom was different in several particulars from the English
loom, which was afterwards made public. The principal movement was
by a cam, revolving with an eccentric motion, which has since given place




Lowell and the Cotton Manufacture.

661

to tlie crank motion, now universally used ; some other minor improve­
ments have since been introduced, mostly tending to give it increased
speed.
The introduction of the power loom made several other changes ne­
cessary in the process of weaving. The first was in the dressing, for
which Mr. Horroeks, of Stockport, had a patent, and of which Mr. Lowell
obtained a drawing. On putting it in operation, an essential improvement
was made, by which its efficiency was more than doubled. This Waltham
dressing machine continues in use, with little change from that time. The
stop motion, for winding on the beams for dressing, was original with
this company.
The greatest improvement was in the double speeder. The original
fly-frame, introduced in England, was without any fixed principle for
regulating the changing movements necessary in the process of filling a
spool. Mr. Lowell undertook to make the numerous mathematical cal­
culations necessary to give accuracy to these complicated movements,
which occupied him constantly for more than a week. Mr. Moody car­
ried them into effect by constructing the machinery in conformity. Several
trials at law were made under this patent, involving, with other questions,
one, whether a mathematical calculation could be the subject of a patent.
The last great improvements consisted in a more slack spinning on thros­
tle spindles, and the spinning o f filling directly on the cops, without the
process of winding. A pleasant anecdote is connected with this last in­
vention. Mr. Shepherd, o f Taunton, had a patent for a winding machine,
which was considered the best extant. Mr. Lowell was chaffering with
him about purchasing the right o f using them on a large scale, at some
reduction from the price named. Mr. Shepherd refused, saying, “ You
must have them, you cannot do without them, as you know, Mr. Moody.”
Mr. Moody replied— “ I am just thinking that I can spin the cops direct
upon the bobbin.”
“ You be hanged,” said Mr. Shepherd; “ Well, I
accept your offer.” “ No,” said Mr. Lowell, “ it is too late.”
From the first starting o f the first power loom, there was no hesitation
or doubt about the success o f this manufacture. The full capital of four
hundred thousand dollars was soon filled up and expended. An addition
o f two hundred thousand was afterwards made, by the purchase of the
place below in Watertown.
After the peace in 1 8 1 5 ,1 formed a new copartnership with Mr. Benja­
min C. Ward. I put in the capital for the purpose of importing British
goods, with the understanding that I was not to perform any part of the
labor of carrying on the business. I was content with a moderate for­
tune, but not willing to disconnect myself entirely from business. An
accidental circumstance occasioned the continuance of this copartnership
until 1830.
At the time when the Waltham Company first began to produce cloth
there was but one place in Boston at which domestic goods were sold.
This was at a shop in Cornhill kept by Mr. Isaac Bowers, or rather by
Mrs. Bowers. As there was at this time only one loom in operation, the
quantity accumulating was not very great. However, Mr. Lowell said to
me one day that there was one difficulty which he had not apprehended,
the goods would not sell. W e went together to see Mrs. Bowers. She
said everybody praised the goods, and made no objections to the price,
but still they made no sales.
I told Mr. Lowell, the next time they sent




662

Low ell and the Cotton Manufacture.

a parcel of tine goods to town, to send them to the store of B. C. W ard &
Co., and I would see what could be done. The article first made at
Waltham was precisely the article of which a large portion of the manu­
facture of the country has continued to consist; a heavy sheeting o f No.
14 yarn, 37 inches wide, 44 picks to the inch, and weighing something
less than three yards to the pound.
That it was so well suited to the public demand was matter of accident.
A t that time it was supposed no quantity of cottons could be sold without
being bleached ; and the idea was to imitate the yard wide goods of
India, with which the country was then largely supplied. Mr. Lowell
informed me that he would be satisfied with twenty-five cents the yard
for the goods, although the nominal price was higher. I soon found a
purchaser in Mr. Forsaith, an auctioneer, who sold them at auction at
once, at something over thirty cents. W e continued to sell them at
auction with little variation o f the price. This circumstance led to B. C.
W ard & Co. becoming permanently the selling agents. In the first in­
stance I found an interesting and agreeable occupation in paying atten­
tion to the sales, and made up the first account with a charge o f 1 per
cent commission, not as an adequate mercantile commission, but satisfac­
tory under the circumstances.
This rate of commission was continued,
and finally became the established rate, under the great increase of the
manufacture. Thus, what was at the commencement rather unreasonably
low, became, when the amount of annual sale, concentrated in single
houses, amounted to millions of dollars, a desirable and profitable business.
Under the influence of the war of 1812, the manufacture of cotton
had greatly increased, especially in Rhode Island, but in a very imperfect
manner. The effect of the peace of 1815 was ruinous to these manu­
facturers.
In 1816, a new tariff was to be made. The Rhode Island manufac­
turers were clamorous for a very high specific duty. Mr. Lowell was at
Washington, for a considerable time, during the session o f Congress.
His views on the tariff were much more moderate, and he finally brought
Mr. Lowndes and Mr. Calhoun to support the minimum o f six-and-aquarter cents the square yard, which was carried.
In June, 1816, Mr. Lowell invited me to accompany him in making a
visit to Rhode Island, with a view o f seeing the actual state of the manu­
facture. I was very happy to accept his proposition. A t this time the
success of the power loom, at Waltham, was no longer matter o f specu­
lation or opinion, it was a settled fact. W e proceeded to Pawtucket.
W e called on Mr. Wilkinson, the maker of machinery. He took us into
his establishment— a large o n e ; all was silent, not a wheel in motion,
not a man to be seen.
He informed us that there was not a spindle
running in Pawtucket, except a few in Slater’s old mill, making yarns.
All was dead and still. In reply to questions from Mr. Lowell, he stated,
that during the war the profits of manufacturing were so great that the in­
quiry never was made whether any improvement could be made in machine­
ry, but how soon it could be turned out. W e saw several manufacturers;
they were all sad and despairing. Mr. Lowell endeavored to assure them
that the introduction of the power loom would put a new face upon the
manufacture. They were incredulous; it might be so, but they were not
disposed to believe it.
W e proceeded to Providence, and returned by




Lowell and the Cotton Manufacture.

663

way of Taunton.
W e saw, at the factory o f Mr. Shepherd, an attempt
to establish a vertical power loom, which did not promise success.
By degrees, the manufacturers woke up to the fact that the power
loom was an instrument which changed the whole character o f the manu­
facture ; and that by adopting the other improvements which had been
made in machinery, the tariff of 1810 was sufficiently protective.
Mr. Lowell adopted an entirely new arrangement, in order to save labor,
in passing from one process to another; and he is unquestionably en­
titled to the credit of being the first person who arranged all the pro­
cesses for the conversion o f cotton into cloth, within the walls of the
same building. It is remarkable how few changes have since been made
from the arrangements established by him in the first mill built at
Waltham. It is also remarkable how accurate were his calculations, as
to the expense at which goods could be made. He used to say, that the
only circumstance which made him distrust his own calculations, was,
that he could bring them to no other result but one which was too favor­
able to be credible. His calculations, however, did not lead him so far
as to imagine that the same goods which were then selling at thirty cents
a yard, would ever be sold at six cents, and without a loss to the manu­
facturer, as has since been done in 1843, when cotton was about five or
six cents a pound. His care was especially devoted to arrangements for
the moral character o f the operatives employed.
He died in 1817, at
the early age of 42, beloved and respected by all who knew him. He
is entitled to the credit o f having introduced the new system in the cot­
ton manufacture, under which it has grown up so rapidly. For, although
Messrs. Jackson and Moody were men of unsurpassed talent and energy
in their way, it was Mr. Lowell who was the informing soul, which gave
direction and form to the whole proceeding.
The introduction o f the cotton manufacture in this country, on a large
scale, was a new idea. W hat would be its effect on the character of our
population was a matter of deep interest. The operatives in the manu­
facturing. cities o f Europe were notoriously of the lowest character, for
intelligence and morals. The question therefore arose, and was deeply
considered, whether this degradation was the result o f the peculiar occu­
pation, or of other and distinct causes. W e could not perceive why this
peculiar description of labor should vary in its effects upon character
from all other occupation.
There was little demand for female labor, as household manufacture
was superseded by the improvements in machinery.
Here was in New
England a fund o f labor, well educated and virtuous. It was not per­
ceived how a profitable employment has any tendency to deteriorate the
character. The most efficient guards were adopted in establishing board­
ing houses, at the cost of the company, under the charge of respectable
women, with every provision for religious worship. Under these circum­
stances, the daughters of respectable farmers were readily induced to
come into these mills for a temporary period.
The contrast in the character o f our manufacturing population, com­
pared with that of Europe, has been the admiration o f the most intel­
ligent strangers who have visited us. The effect has been to more than
double the wages of that description of labor from what they were before
the introduction of this manufacture. This has been, in some measure,
counteracted, for the last few years, by the free trade policy of the gov­




664

Low ell and the Cotton Manufacture.

ernment; a policy which, fully carried out, will reduce the value o f labor
with us to an equality with that of Europe.
The following are the changes in the price of the article first manu­
factured at Waltham :—
Cents
per yard.

1816..............................................
1819..............................................
1826..............................................

30
21
13

CentB
per yard.

1829...............................................
1843...............................................

8*
6i

From that time the jwice has fluctuated, with the price of cotton, from
Y to 9 cents per yard.
THE ORIGIN OF LOWELL.

The success of the Waltham Company made me desirous of extending
my interest in the same direction. I was of opinion that the time had
arrived when the manufacture and printing of calicoes might be success­
fully introduced into this country. In this opinion Mr. Jackson coincided,
and we set about discovering a suitable water power. At tbe suggestion
of Mr. Charles H. Atherton, of Amherst, New Hampshire, we met him
at a fall o f the Souhegan River, a few miles from its entrance into the
Merrimack, but the power was insufficient for our purpose. This was in
September, 1821. In returning, we passed the Nashua River, without
being aware of the existence o f the fall, which has since been made the
source of so much power by the Nashua Company. W e only saw a
small grist mill standing near the road, in the meadow, with a dam of
some six or seven feet.
Soon after our return, I was at Waltham one day, when I was informed
that Mr. Moody had lately been at Salisbury, when Mr. Ezra Worthen,
his former partner, said to him, “ I hear Messrs. Jackson and Appleton
are looking out for water power. W hy don’t they buy up the Pawtucket
Canal? That would give them the whole power of the Merrimack, with
a fall of over thirty feet.” On the strength of this, Mr. Moody had re­
turned to Waltham by that route, and was satisfied of the extent of the
power which might be thus obtained, and that Mr. Jackson was making
inquiries on the subject. Mr. Jackson soon after called on me, and in­
formed me that he had had a correspondence with Mr. Thomas M. Clark,
of Newburyport, the agent of the Pawtucket Canal Company, and had
ascertained that the stock of that company, and the lands necessary for
using the waterpower, could be purchased at a reasonable rate, and asked
me what I thought of taking hold of it. lie stated that his engagement
at Waltham would not permit him to take the management of a new
company, but he mentioned Mr. Kirk Boott as having expressed a wish
to take the management o f an active manufacturing concern, and that he
had confidence in his possessing the proper talent for it. After a consulta­
tion, it was agreed that he should consult Mr. Boott, and that if he would
join us we would go on with it. He went at once to see Mr. Boott, and
soon returned to inform me that he entered heartily into the project; and
we immediately set about making the purchases. Until these were made,
it was necessary to confine all knowledge o f the project to our own three
bosoms. Mr. Clark was employed to purchase the necessary lands, and
such shares in the canal as were within his reach, whilst Mr. Henry
Andrews was employed in purchasing up the shares owned in Boston.




Lowell and the Cotton Manufacture.

665

I recollect tlie first interview with Mr. Clark, at which he exhibited a
rough sketch of the canal and the adjoining lands, with the prices which
he had ascertained they cold be purchased for. He was directed to go
on and complete the purchases, taking the deeds in his own name, in
order to prevent the project taking wind prematurely. The purchases
were made accordingly, for our joint account, each of us furnishing funds
as required by Mr. Boott, who was to keep the accounts.
Our first visit to the spot was in the month of November, 1821, and a
slight snow covered the ground. The party consisted of Patrick T. Jackson, Kirk Boott, Warren Dutton, Paul Moody, John W . Boott, and myself.
W e perambulated the grounds, and scanned the capabilities of the place,
and the remark was made that some of us might live to see the place con­
tain twenty thousand inhabitants. At that time there were, I think, less
than a dozen houses on what now constitutes the city of Lowell, or rather
the thickly settled parts of it:— that o f Nathan Tyler, near the corner of
Merrimack and Bridge-streets; that of Josiah Fletcher, near the Boott
Mills; the house and store of Phineas Whiting, near Pawtucket Bridge;
the house of Mrs. Warren, near what is now Warren-street; the house of
Judge Livermore, east of Concord River, then called Belvidere, and a
few others.
Formal articles of association were drawn up, bearing date the first of
December, 1821. They are recorded in the records of the Merrimack
Manufacturing Company, as follows :—
“ The subscribers hereunto, intending to form an association for the purpose
of manufacturing and printing cotton cloth, hereby enter into the following
articles of agreement
“ A rticle 1. W e will petition the Legislature, as soon as may be, for an act
of incorporation under the name of the Merrimack Manufacturing Company.
“ A rt. 2. The capital stock shall be divided into six hundred shares.
“ A rt . 3. Assessments may be laid on said shares from time to time, as the
company, at any legal meeting, shall direct, and payable at such times as the
company shall appoint. The whole amount of such assessments, however, on
each of said shares, shall not exceed one thousand dollars.
“ A rt . 4. Should it hereafter be deemed expedient to increase the capital stock
of said company, it shall be done by the creation of new shares, and the subscri­
bers hereunto, their heirs and assigns, shall be entitled to take one-filth part of
the new shares so created for that purpose, to be divided among them, their heirs
and assigns, in proportion to the stock now subscribed for ; and another one-fifth
part of the new shares so created, shall be disposed of by the company in such
manner as the majority of them shall direct; but the rights and privileges hereby
reserved to the subscribers, their heirs and assigns, shall cease when the capital
stock hereinafter subscribed for shall have been doubled. The remaining threefifths of said new shares shall be divided among those who hold stock at the
time of such increase, in proportion to their stock.
“ A rt. 5. We hereby appoint Kirk Boott treasurer and agent of said com­
pany, for five years from the first day of January, A. D. one thousaud eight
hundred and twenty-two, and agree that he shall be paid three thousand dollars
a year for his services in such capacities.
“ A rt . 6. Whereas, we have been informed that the proprietors of the locks
and canals on Merrimack River are possessed of valuable mill seats and water
privileges ; and whereas Kirk Boott has, with our consent, advanced money for
the purchase of shares in the stock of that corporation, and of lands thereto
adjoining, we hereby confirm all he has done in the premises, and further authorize
him to buy the remainder of the shares in said stock, and any lands adjoining
the locks and canals he may judge it for our interest to own, and also to bargain




666

Lowell and the Cotton Manufacture.

with the above named corporation for all the mill seats and water privilege s
they may own. He must in all cases be governed by such advice and direction
as he may receive from the company, or any committee duly apppointed by them.
“ A rt . 7. The shares to be subscribed for by article 4 are to be paid for at
the times and in the manner directed by the company.
“ A rt . 8. If any person should refuse or neglect to subscribe for the whole
number of shares he is entitled to by article 4, the shares not so subscribed for
shall belong to the company, to be disposed of as they may appoint.
‘ • A r t . 9. Until an act of incorporation shall have been obtained, and the com­
pany organized under the same, the business shall be conducted as the majority
of the associates may direct, at meetings duly notified and held as hereafter pro­
vided for.
“ A r t . 10. The first meeting of the associates shall be notified in writing, by
the agent, to be held on or before the fifteenth of December, one thousand eight
hundred and twenty-one, at four o’clock, P. M., at the house of P. 'I'. Jackson, Esq., in Winter-street.
“ A r t . 11. At their first meeting, the associates shall appoint a clerk, and
determine in what manner all future meetings shall be notified and held.
“ A rt . 12. A t all meetings, each person shall have as many votes as shares,
and all matters shall be determined by a majority of the votes given. Any per­
son may vote by proxy, authorized by power of attorney.
“ A rt . 13. Should it be determined by a majority of the original associates,
subscribers hereunto, that it would be for the interest of the whole to give to
any persons shares in the stock, at cost, we each agree to give up the number of
shares so required, in proportion to the stock we now subscribe for, provided we
receive the amount we shall have paid thereon, with interest.
“ A rt . 14. Each subscriber agrees to take and pay for the number o f shares
set against his name in this original subscription, on the terms prescribed in the
preceding articles o f agreement.
B oston,

December 1st, 1821.

Kirk Boott, ninety shares.......................................................................................
John W. Boott, ninety shares..................................................................................
N. Appleton, one hundred and eighty shares.....................................................
I’ . T. Jackson, one hundred and eighty sh a res..................................................
Paul Moody, sixty shares.......................................................................................

90
90180
180
60

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

600

“ A t a meeting at the house of P. T. Jackson, 7th December, it was voted
that the following persons may be permitted to subscribe, in conformity with
article 13.
Dudley A. T y n g ... .
Warren Dutton........ ........................
Timothy W ig gin ....
William Appleton... ........... . . . .
Eben Appleton . . . . .......................

Thomas M. Clark . . .
10 1). W ebster............... .......................
Benj. G orham ........... .......................
25 Nathaniel Bowditch .......................
15

4
5
4

“ Voted, That N. Appleton be a committee to write T. Wiggin for an answer.
“ Voted. That we will sell to the Boston Manufacturing Company 150 shares,
at 10 per cent advance ; to be supplied by P. T. Jackson 40 shares, N. Appleton
40, Paul Moody 30, J. W . Boott 20, Kirk Boott 20.”
An act of incorporation was granted 5th February, 1822. The first
meeting o f stockholders took place on the 27th February, at which by­
laws were adopted and directors chosen, as follow s:— Warren Dutton,
Patrick T. Jackson, Nathan Appleton, William Appleton, Israel Thorn­
dike, Jr., John W . B oott; Kirk Boott, treasurer and clerk. An assess­
ment was made o f $500 per share, to be called for by the directors.
The shares in the locks and canals to be conveyed to the several directors




Lowell and the Cotton Manufacture.

667

in trust. A t a meeting of the. directors, the same day, Warren Dutton
was chosen president; $200 per share was voted to be paid on the 1st of
April. Patrick T. Tac.kson and Nathan Appleton were appointed a
committee to settle Mr. Boott’s account, which contained $18,330 for
lands of Nathan Tyler, Josiah Fletcher, Joseph Fletcher, and Moses Cheever,
and $30,217 paid for 339 shares in the locks and canals.
The Pawtucket Canal belonged to a company incorporated in 1792,
by the name of “ the Proprietors of the Locks and Canals on Merrimack
River,” apparently established originally with the view o f making the
Merrimack River navigable to Newburyport. This object was, in a great
measure, defeated by the incorporation in 1793 of the Middlesex Canal,
opening a direct communication with Boston. A canal, of very moderate
dimensions, was, however, made around Pawducket Falls, for the passage
o f rafts of wood and lumber. The income, up to 1820, hardly averaged
3 i per cent per annum, which made the purchase of the stock an easy
matter. It consisted of 000 shares, on which $100 had been paid each.
The enlargement of this canal, and the renewal of the locks, was the
first and most important measure to be accomplished by the new company.
It was decided to make it sixty feet wide and eight feet deep, which, it
was estimated, would furnish fifty mill powers. This was commenced
with the opening spring o f 1822, and prosecuted with the utmost vigor;
but it was soon ascertained that it could not be accomplished in the man­
ner proposed in one season. Its cost was upwards of $120,000.
It w’as decided to place the mills o f the Merrimack Company where
they would use the whole fall of thirty feet. Mr. Moody said he had a
fancy for large wheels. In the mean time a new canal was to be made
to the Merrimack River, mills were to be built, a house for Mr. Boott, and
boarding houses for the operatives. A contract was made with the
Boston Manufacturing Company, or Waltham Company, for machinery
for two mills. As it was all important to the Merrimack Company to
have the use of the patents of the Waltham Company, and especially to
secure the services o f Mr. Moody, it was finally arranged to equalize the
interest of all the stockholders in both companies, by mutual transfers,
at rates agreed upon, so that there was no clashing o f interest in any
case. This could only be done by a strong feeling of mutual interest in
favor of the measure, and a liberal spirit of compromise in carrying it
out. Under this arrangement, it was agreed, in August, 1823, to pay the
Waltham Company $75,000 for all their patterns and patent rights, aud
to release Mr. Moody from his contract in their service.
In December, 1822, Messrs. Jackson and Boott were appointed a com­
mittee to build a suitable church; and in April, 1824, it was voted that
it should be built of stone, not to exceed a cost o f $9,000. This w'as
called St. Anne’s Church, in which Mr. Boott, being himself an Episcopalian,
was desirous of trying the experiment whether that service could be sus­
tained. It was dedicated by Bishop Griswold, but the directors of the
Merrimack Company never intended to divest themselves o f the control
of it. Liberal grants of land were made for other places of worship, and
subscriptions freely made by the stockholders for different religious
societies.
The first wheel of the Merrimack Company was set in motion on the
first day of September, 1823. In 1825, $500 were appropriated for a
library. Three additional mills were built. In 1829, one mill was burnt




668

Lowell and the Cotton Manufacture.

down ; in 1853 another. In 1825, Mr. Dutton going to Europe, Nathan
Appleton was appointed president. The first dividend of $100 per share
was made in 1825. They have been regularly continued, with few excep­
tions, averaging something over twelve per cent per annum, to the present
time.
The business of printing calicoes was wholly new in this country. It
is true that after it was known that this concern was going into operation
for that purpose, two other companies were got up— one at Dover, New
Hampshire, the other at Taunton, Massachusetts, in both of which goods
were probably printed before they were by the Merrimack Company. The
bringing of the business of printing to any degree of perfection was a
matter of difficulty and time. Mr. Allan Pollock thought himself com­
petent to manage it, and was employed for some time. Through the good
offices of Mr. Timothy Wig-gin, Mr. John D. Prince, of Manchester, was
induced to come out, with his family, in 1826, to take charge of the con­
cern, and continued in the service of the company until 1855. He was
then relieved by a younger man from the more active duties. On account
of his long services, and the great skill and success with which he had
conducted that department, he was by the directors granted an annuity
of two thousand dollars per annum for life.
The then recent improvements in printing were of the highest im­
portance. The old process of printing by blocks of wood wras in a great
measure superseded by the cylinder. The introduction of machines,
carrying one or more cylinders, each distributing a different color, was in
printing what the invention of Arkwright was in spinning, the source o f
immense fortunes. Amongst those who availed themselves of it, one of
the earliest was the father o f the late Sir Robert Peel, who acquired
enormous wealth as a printer. It is related of him, that on his London
bankers hinting to him that he was using his credit too freely, he quieted
their scruples by revealing to them his secret, that he was coining a guinea
on every piece of calico which he printed.
The engraving of these cylinders was a most important part of the pro­
cess, and Mr. Boott made one voyage to England solely for the purpose
of engaging engravers. The art was then kept a very close mystery,
and all exportation of machinery was prohibited. Dr. Samuel L. Dana
was employed as chemist, and through the superior skill and talent of
Messrs. Boott, Prince, and Dana, the company was brought to the highest
degree o f success.
In 1828, an arrangement was made by which Mr. J. W . Paige came
into the selling agency on the retirement of Mr. W ard from the firm ; and
it is not too much to say, that to his skill and good judgment the com­
pany is greatly indebted for its success. This office combined with it the
preparation of the patterns under a regular designer, and carried with it
a commission o f 1 J- per cent.
Mr. Warren Colburn was for several years superintendent o f the mills,
and was succeeded by Mr. John Clark, who held the office until 1848, to
the great satisfaction of the directors.
The first printing cloths were made 30 inches wide in the gray, giving
them when printed a width o f 27 inches, being about two inches above
the average of British prints. None other than fast colors were used,
whilst a superior durability from the throstle over mule spinning, com ­
bined to give them a higher character than attached to any other goods.




Lowell and the Cotton Manufacture.

6fi9

In the mean time, Mr. Moody was transferred from Waltham to this place,
having charge of the manufacture of machinery in the building erected
for that purpose. Mr. Worthen had been employed at an early day. He
was a man of superior mechanical genius, and his death, in 1824, was
deeply regretted.
A t the annual meeting at Chelmsford, May 21, 1823, the directors
were authorized to petition for an increase o f capital to $1,200,000, and
on the 19th of October, 1824, a new subscription o f six hundred shares
was voted, and a committee appointed to consider the expediency of
organizing the canal company, by selling them all the land and water
power not required by the Merrimack Manufacturing Company. This
committee reported on the 28th February, 1825, in favor o f the measure,
which was adopted; and at the same time a subscription was opened, by
which twelve hundred shares in the locks and canals were allotted to the
holders of that number of shares in the Merrimack Company, share for
share.
The locks and canals were thus the owners o f all the land and water
power in Lowell. They made the necessary new canals to bring it into
use. The second mill built at Waltham contained 3,584 spindles, spin­
ning No. 14 yarn, with all the apparatus necessary to convert cotton into
cloth. This was taken as the standard for what was called a mill power,
or the right to draw twenty-five cubic feet per second, on a fall of thirty
feet, equal, according to Mr. Francis, to about sixty horse powers, for
which the price fixed on was four dollars a spindle, or $14,336 for a mill
power and as much land as was proper for the establishment. Of this,
$5,000 were to remain subject to an annual rent o f $300.
The first sale was to the Hamilton Manufacturing Company, in 1825,
with a capital of $600,000, afterwards increased to $1,200,000. This
company seeured the services of Mr. Samuel Batchelder, of New Ipswich,
who had shown much skill in manufacturing industry. Under his man­
agement the power loom was applied to the weaving of twilled and fancy
goods, with great success. The article o f cotton drills, since become so
important a commodity in our foreign trade, was first made in this estab­
lishment. The Appleton Company and the Lowell Company followed,
in 1828. In 1829, a violent commercial revulsion took place both in
Europe and this country. It was especially felt by the cotton manufac­
turers in England, and several establishments in this country, operating
with insufficient capital, were prostrated. The Merrimack Manufacturing
Company made no dividend that year. During this period of depression,
Messrs. Amos and Abbott Lawrence were induced, by some tempting re­
duction in the terms made by the proprietors of the locks and canals, to
enter largely into the business; the consequence o f which was the estab­
lishment of the Suffolk, Tremont, and Lawrence companies, in 1830.
The Boott followed in 1835, the Massachusetts in 1839. These companies
involve capital amounting to twelve millions of dollars.
They are all
joint-stock companies, with a treasurer as the responsible agent, and a
superintendent or manager of the mills. The principle on which these
corporations have been established, has always been the filling o f these
important offices with men of the highest character and talent which
could be obtained. It has been thought, and has been found to be, the
best economy, to pay such salaries as will command the entire services of
such men. The directors properly consist o f stockholders most largely




670

Lowell and the Cotton Manufacture.

interested in the management o f their own property.
They receive
nothing for their services. A very important part also depends on the
selling agents, who should be well acquainted with the principles of trade.
The success of the establishments at. Lowell may be fairly quoted in favor
o f the system pursued. It is true that, during the present revulsion, the
most severe within the memory of the oldest merchant, there is a dispo­
sition to attribute the depression of the cotton manufacture to the con­
struction of these companies. It is always easy in such a time to find
some new ground of cavil. Corporations, like individuals, will succeed
or fail, as they are directed by skill and intelligence, or without them.
The chief trouble, in fact, is with those concerns which have attempted
to get on with inadequate capital. The Lowell companies were all orig­
inally established on the principle that not more than two-thirds of the
capital should be invested in fixtures and machinery, leaving one-tliird
free to carry on the business. In some few instances this principle has
been disadvantageously encroached upon, by increasing the original ma­
chinery without a proportional increase o f capital. One thing is certain,
manufactures cannot be carried on to any great extent in this country in
any other manner than by joint-stock companies. A large capital is ne­
cessary to success. Individuals possessing sufficient capital will not give
themselves up to this pursuit. It is contrary to the genius of the country.
There are two leading causes for the depression during the last few
years. In consequence o f the great profits in the years 1844, 1845, and
1846, both in England and this country, the manufacture was extended
beyond the wants of the country; and the disturbances in China have
interfered materially with our increasing trade to that region.
It is also evident that the tariff of 1846 has had a most injurious effect
upon the cotton manufacture. This is shown most conclusively by the
increased exports from England to this country, as stated from official
documents in “ Burns’ Commercial Glance,” a paper published in Man­
chester, under the patronage of the Manchester Chamber of Commerce.
It gives the following as the exports of cotton goods to the United States,
in millions of yards, for the years—
Plain calicoes.........................
Printed and dyed calicoes...

1844.
10
12

1845.
12
13

1846.
10
m

1854.

1855.

70
78

81
81

1856.
85
97

Showing an increase, since the passage of the tariff of 1846, of over 600
per cent, without including a large amount from the Clyde. The entire
repeal of the minimum has been ruinous to attempts to carry the manu­
facture into the higher branches, especially in fancy goods. A continued
duty o f three or even two cents the square yard would have saved the
manufacturer from heavy losses.
It is a singular circumstance, that whilst in 1816 William Lowndes
and John C. Calhoun saw clearly the benefit which the cotton-planting
States would derive from the introduction of the manufacture into the
country, the cotton planters themselves have ever been the most deadly
enemies of the manufacture which has done so much for the increase of
the consumption of cotton.
It was the Americans who first introduced the manufacture of heavy
goods by the application of the least amount o f labor to the greatest
quantity of raw material, thus producing a description of goods cheaper
to the consumer than any heretofore existing. This system the English
have been obliged to follow, and have even adopted our name o f domes­




Lowell and the Cotton Manufacture.

671

tics, whilst they have the advantage of using the cheaper cotton o f India,
which the Americans have not yet done, but which they will surely find
themselves compelled to do.
In 1818, Mr. Calhoun visited the establishment at Waltham, with the
apparent satisfaction of having himself contributed to its success. It is
lamentable to think that in 1832, under the alluring vision of a separate
Southern confederacy, he should have become the active enemy of the
manufacture which was doing so much for the interest of the planters,
and that the influence of his name has continued to keep them in that
error.
In November, 1824, it was voted to petition the Legislature to set off
a part of Chelmsford as a separate township. The town of Lowell was
incorporated in 1826. It was a matter of some difficulty to fix upon a
name for it. I met Mr. Boott one day, when he said to me that the com­
mittee of the Legislature were ready to report the bill. It only remained
to fill the blank with the name. He said he considered the question nar­
rowed down to two, Lowell or Derby. I said to him, “ then Lowell by
all means,” and Lowell it was.
There was a particular propriety in giving it that name, not only from
Mr. Francis C. Lowell, who established the system which gave birth to
the place, but also from the interest taken by the family. His son, of the
same name, was for some time treasurer of the Merrimack Company.
Mr. John A. Lowell, his nephew, succeeded Mr. Jackson as treasurer of
the Waltham Company, and was for many years treasurer of the Boott
and Massachusetts mills; was largely interested, and a director in several
other companies. There is no man whose beneficial influence in estab­
lishing salutary regulations in relation to this manufacture was exceeded
by that o f Mr. John A. Lowell. The name of Derby was suggested by
Mr. Boott, probably, from his family associations with that place, it being
also in the immediate vicinity of one o f the earliest seats of the cotton
manufacture.
In 1836, the municipal government of Lowell was changed to that of
a city.
The capital of the Merrimack Company was further increased $300,000
in 1828 ; $500,000 in 1837, and $500,000 in 1849 ; making the present
amount of $2,500,000.
The death o f Mr. Boott, in 1837, was a severe loss to Lowell. He
was a high-toned gentleman, o f good education. He had acquired the
elements of engineering at a government establishment in England, was
a man of great energy and intelligence, and by his ingenuous and manly
deportment gained the confidence o f ail with whom he came in contact.
His place as treasurer o f the Merrimack Company was supplied for a
short time by Mr. Francis C. Lowell, and then by Mr. Ebenezer Chadwick,
the success of whose administration gave the best evidence o f his fitness
for the office. He died in 1854, and was succeeded by Mr. Francis B.
Crowninshield, the present incumbent.
The prices of Merrimack prints have varied as follow s:—
The average price per yard in 1825 w a s ................................................ cents
“
“
1830..................................................................
“
“
1835.............................................................
“
“
1840..................................................................
"
“
1845..................................................................




23.07
16.36
16.04
12 09
10.90

672

Lowell and the Cotton Manufacture.
POPULATION OF LOW ELL.

1810.

1840.

1850.

1855.

6,47V

20,981

32,620

37,653

The building o f machinery was continued by the proprietors of the
locks and canals until 1845, when the machine shop and boarding-houses
appurtenant were sold to a separate corporation; at which time the re­
maining lands were sold at auction, and the proceeds divided among the
stockholders.
In 1846, an improvement of great importance was made by the Locks
and Canals Company. It was found that the current o f the original
canal was so great, under the increased use of the water, as materially
to diminish its effective power. It was therefore determined to create
the present grand canal along the bank o f the river, a work which does
the greatest honor to the engineer, J. B. Francis. Its cost was over
$500,000, which hardly exceeded his estimate.
A further important measure was the purchase o f the outlet of Lake
Winnipisseogee, and of the rights necessary to control it. A change was
also made in the tenure of the water-power, by which the different cor­
porations became joint owners o f it as proprietors instead o f partial
lessees, as heretofore.
The original water-wheels were made upon the principle recommended
by Smeaton, the hydraulic engineer; supposed, when constructed in the
most perfect manner, to give the greatest possible power o f the weight of
water upon the wheel, with the least possible loss or waste in receiving
or discharging it. When constructed in the best manner, however, they
were not estimated to realize more than 75 per cent of the actual power
of the water expended.
These have been superseded by the Turbine wheel, a French invention,
greatlv improved by Uriah A. Boyden, which acts on a vertical shaft
through discharging tubes, on the principle of reaction, with no loss from
back water other than the loss of head. These have been fully described
in an elaborate work by James B. Francis, entitled “ Lowell Hydraulic
Experiments,” showing that they have been found capable o f realizing
88 per cent of the power expended. He estimates the average result at
75 against 60, which he considers the average of the best water-wheels.
As the old wheels in Lowell have decayed, they have been replaced by
Turbines, until very few of the old ones remain. The whole power used
by the mills in Lowell, being 139 mill powers, is estimated by Mr. Francis
as about equal to 9,000 horse powers.
The Boston and Lowell Railroad was among the very first established
in the United States. So early as 1830, a committee was appointed on
the subject, and a bonus o f $100,000 was voted by the Locks and Canals
Company, payable on its completion. A subscription was obtained, and
Mr. Jackson undertook to carry it into effect. His usual energy and en­
terprise were shown in its completion, with a double track, on a scale of
solidity and permanence which has seldom been followed. It was opened
for travel in June, 1835, earlier than any other railroad in Massachusetts,
for its entire length, and with the exception of the Camden and Amboy,
to Bordeutown, in the United States.




673

Trade o f France.

Art, II.— TRADE OF FRANCE.
FRAN CE U N D ER TH E
P E C U L IA R
U N IT E D

E M P IR E — C A U S E S O F G R E A T E R

T O F R A N C E — C O M P A R A T IV E

STATES

A C T IV IT Y — GOLD — G E N E R A L C A U SE — CAUSES

E X P O R T S — A F F A I R S IN F R A N C E — P R O G R E S S O F W E A L T H —

AND FR A N C E — F L O A T IN G

C A P IT A L — A B S O R B E D IN B U IL D IN G — C O M M E R C I A L P O L IC Y

O F F R A N C E — G E N E R A L C O M M E R C E T A B L E S — O F F IC IA L V A L U E — A C T U A L V A L U E — S P E C I A L C O M M E R C E
T A B L E S — IN C R E A S E
VALU ES— DRY

O F V A L U E S — D E C L IN E IN

O F S P I R I T S — D U T IE S
R IC E —

ON G R A IN — E F F E C T O F F R E E

SU GAR— FR E E

AVERAGE
IM P O R T S

1857 —

EXPO RTS

FROM

F R A N C K — Q U A N T IT IE S A N D

GOO DS— S I L K S — W IN E S — IM P O R T S IN T O F R A N C E — Q U A N T IT IE S A N D V A L U E S — I M P O R T

TRADE

CORN T R A D E — B E L G IU M IM P O R T S — C A T T L E —

PR O G RE SS— EXCH ANGES W IT H

D IF F E R E N T C O U N T R IE S —

IN C R E A S E — C O M M E R C I A L C I T I E S OF F R A N C E — P A R IS , T H E C E N T E R — S P E C IE
AND E X P O R T 8 OF T H E

M E T A L S — G A IN T O

1847-1857—

M OVEM ENT—

F R A N C K — B A N K OF F R A N C E — P U R C H A S E S OF

G O L D — U N I T E D S T A T E S B IL L S — Q U A N T IT Y OF G O L D B O U G H T — P R E M IU M P A ID — L IN E OF D IS C O U N T S —
D IV ID E N D S P A I D P E R

S H A R E — IN C R E A S E O F C A P I T A L — R E L E A S E O F U S U R Y

ON D IS C O U N T S — B R A N C H O P E R A T I O N S — A C C U M U L A T IO N

OF T H E

R E S T R A IN T — E F F E C T

M E T A L S — C O M P A R A T IV E

TO NNAGE

— CU STOM S REVENUE.

T h e trade and commerce o f France under the Empire have been
developed in an extraordinary manner, not only in a greater ratio than
ever before in that country, but also more rapidly than, contemporaneously,
in other countries. The general cause of greater activity which has affected
all countries alike in the last ten years has been the gold product, which
has stimulated a great activity in all branches of industry. It has, doubt­
less, everywhere, by holding out the hope of greater reward, induced the
production of all descriptions of wealth, and probably in a far greater
ratio than the increased production of gold itself. The actual exports
of the three leading countries for several years back indicate the nature
of the impulse which has been given to production by that cause, since
each nation exports its surplus:—
ANNUAL EXPORTS OF GREAT BRITAIN, FRANCE, AND THE UNITED STATES.

Tears.

1849
1850
1851
1852
1853
1854
1855
1856
1857

Great Britain.

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

1316,752,417
345,571,901
360,096,102
377,521,101
490,100,000
485,200,000
463,130,331
547,252,457
591,231,447

France.

United States.

§269,101,000
287,025,100
305,437,500
315,191,210
381,137,500
353,625,171
406,312,170
435,011,000
441,937,500

$131,710,081
134,700,233
178,620,138
154,931,147
189,869,162
215,156,304
192,751,135
266,438,051
278,906,713

The United States exports here given do not include the precious
metals, but all other products of industry, being mostly food and materials
required by the greater manufacturing industry o f Great Britain and
Europe. In France, a somewhat different state of affairs has existed, since
the advent of the second Empire seems to have imparted a sense of
greater security to property to the existing order o f political affairs,
while the free trade proclivities of the government have aided the in­
dustrial impulse imparted by the gold discoveries. There have, however,
been many drawbacks upon the prosperity of the country. These have
been in chief the Russian war, the failure of the harvests, silk, wine, and
cereal, and extensive inundations. In spite o f these large drawbacks
not only the internal industry, but the external commerce of France, has
indicated a great increase o f national wealth. The progress o f wealth,
not only in France but in England, is somewhat different from wffat it is
in the United States.
Those old countries are nearly, so to speak,
V O L . X X X I X .-----N O . V I .
43




674

Trade o f France.

“ built.” Their roads, towns, cities, dwellings were all made long years
since by the industry of previous generations, some of -which were kept
poor by the efforts made in those respects. The present accumulations of
wealth are in a more changeable form, and, as floating capital, accumulate
in a manner to enhance the value of public securities and landed property.
In the United States, on the other hand, although a vast population come3
in from abroad every year, an immense outlay is annually incurred for
the construction o f roads, buildings, towns, counties, States. In new
States and Territories, that but a few years since were wildernesses, towns
now flourish, containing stone dwellings that vie with those of the old
States. Even in the oldest cities the process of demolition and recon­
struction is constantly going on.
New York absorbs in this way
$40,000,0000 per annum. This is carried on to an extent unknown
abroad, where prosperity has a more exchangeable and available form.
The modifications of the restrictions that have so long been imposed upon
interchange in France, have also greatly stimulated industry by aiding in
increasing its reward. The tables recently published by the Custom­
house authorities of France are illustrative of these facts. The general
movement of the commerce is given as follows :—
GENERAL COMMERCE OF FRANCE.

Years.

/------------------- Imports.-------------------->
Official.
Actual.

,------------------- Exports.-------------------- ,
Official.
Actual.

1 8 5 0 ..francs
1851 ______
1852 ...............
1853 ...............
1854 ...............
1855 ...............
1856 ...............
1857 ...............

1,174,000,000
1,158,000,000
1,438,000,000
1,632,000,000
1,709,101,000
1,952,000,000
2,268,000,000
2,236,000,000

1,531,000,000
1,629,000,000
1,682,000,000
1,861,000,000
1,788,000,000
2,027,000,000
2,320.000,000
2,357,000.000

1,051,201,000
1,094,000,000
1,392,000,000
1,696,000,000
1,870,000,000
2,160,000,000
2,740,000,000
2,689,000,000

1,419,000,000
1,520,000,000
1,680,000,000
2,033,000,000
1,886,000,000
2,167,000,000
2,659,000,000
2,639,000,000

The official value is that fixed by law in 1826 ; the actual value is that
for each current year.
The official value, therefore, expresses more
relative quantities, and, as compared with the actual value, gives relative
rise or fall in prices for the year. Thus, for several years the exports o f
France have shown a greater rise in the actual than in the official value.
In 1852 they were nearly equal, but up to 1856 the actual had risen,
in round numbers, 1,000,000,000 francs, while the official had improved
but 700,000,000 francs. The year 1857, being one of panic, we observe
that the actual value decreased 20,000,000 francs, while the official showed
an increase of 37,000,000 francs, a larger quantity of goods was valued at less
money. This “ general commerce” of France embraces all foreign goods
exported and imported for transit. The li special commerce” embraces
only French goods exported, and the merchandise imported for French
consumption. The figures for this trade are as follows
SPECIAL COMMERCE OF FRANCE.

Years.

,----------------- Imports.'-------------------,
Official.
Actual.

,------------------- Exports.--------------------,
Official.
Actual.

I 8 6 0 ..francs
1851 ................
1852 ...............
1853 ...............
1854 ...............
1855 ...............
1856 ..............
1857 ...............

757,000,000
791,200,000
1,007,000,000
1,123,000,000
1,158,000,000
1,366,000,000
1,538,000,000
1,484,000,000

1,124,000,000
1,239,000,000
1,251,000,000
1,386,000,000
1,261,100,000
1,442,000,000
1,650,000,000
1,606,000,000




781,000,000
781,000,000
1,006.000,000
1,217,000,000
1,291,000,000
1,694,000,000
2,011,000,000
1,912,000,000

1,011,000,000
1.119,000,000
1,278,000,000
1,572,000,000
1,413,700,000
1,558,000,000
1,924,000,000
1,694,000,000

675

Trade o f France.

Included in these special values are the figures which represent the im­
port of foreign produce and wares that have undergone perfection byFrench industry and then been re-exported. The same general observa­
tions apply to this special trade as to the general commerce in relation to
values. The two values, relatively, show a considerable decline in the
last year. If we take the leading articles of French import for this year
in quantities and values, we have results as follows :—
EXPORTS FROM FRANCE.

Quantity.---------------------a ,-------Yalue in pounds sterling.--------,

1856.

1857.

OO

185.5.

1856.

1857.

Wines, spirite.gals. 30,259,904 31,303,739 26,293,958 8,360,000 10,728,000 8,568,000
G ra in .............qrs.
9,908
67,706
85,781
| 248,000
304,000
408,000
8,876
Flour..............tons
10,078
14,803
124,822
Cattle.............. No.
116,702
147,498
548,000
592,000
608.000
Cotton thread.tons
235
259
483
28,000
32,000
72,000
Linen thread........
208
138
205
24,000
36,000
44,000
Hemp and flax . .
300
2,134
12,000
62,000
1,147
48,000
Madder..............
16,300
16,069
584,000
684,000
12,023
616,000
Machinery............
3,425
3,412
3,716
156,000
176,000
196,000
Metal work..........
10,504
12,911 1,94S,000 1,636,000 1,648,000
11,877
Paper....................
7,383
8,384
8,853
572,000
500,000
600,000
Furniture..............
....
210,000
296,000
332,000
Dressed leather..
4,101
4,298
252,000
4,467
852,000
312.000
Gloves,
leather
made up...........
1,825
2,303
2,635 2,060,000 2,812,000 3,200,000
Prepared leather.
1,856,000 1,764,000 2,040,000
Silk, raw &dyed.
895
493
474 1,148,000 1,576,000 1,532,000
Tissues, cot’n, silk,
woolen, linen.
20,239
20,375
20,796 24,380,000 29,056,000 27,940,000
Sugars, refined . .
32,263
35,766
33,939 1,032,000 1,432,000 1,304,000
G la ss...................
29,2*7 6
30,605
30,490
660,000
748,000
800,000
Porcelain, pottery.
8,676
11,019
12,052
352,000
456,000
464,000
7,524
7,851
6,685
Miscellaneous . . .
17,452,000 21,192,000 22,688,000

The exports of wines show a decline from last year, but although there
was less by 4,000,000 gallons exported than in 1855, there was nearly
$1,000,000 more money obtained o f the export. The exportations of
wine show a falling off last year as compared with the two previous ones,
which may be taken as a natural consequence of the oidium, while those
of spirits show a decrease as compared with last year, but an increase as
compared with the year before. The quantities and values o f both grain
and flour exported were larger, but unimportant, in either year as com­
pared with the former exports of France. Of drygoods, or textile fabrics,
it will be observed that the weight exported did not much vary in either
year, while the price, mostly for the silks, rose 20 per cent in 1856 over
1855, but subsided again in 1857, and this year still further, under the
prospects o f the new crops. The value of silks exported in 1857 was
98.000. 000 francs, against 147,000,000 francs in 1856.
On the other
hand, cotton goods, which had been at 73,000,000 francs in 1856, rose to
100.000. 000 in 1857. The leading articles imported into France also
present some points of interest:—




676

Trade o f France.
IMPORTS INTO FRANCE.

--------------- Quantity.--------------------- » ,-------Value in pounds sterling. —

1855.

1856.

1857.

1855.

1856.

1857.

'Wines, epirits.gals. 13,645,796 11,667,348 22,133,269 2,144,000 2,152,000 3,364,000
678,526
625,396 2,316,000 2,240,000 2,116,000
608,635
C a ttle*...........No.
C o rn ............... qrs. 1,235,843 2,869,212
1,Sl
l ’l32 [ 4>908>000 12,132,000 4,648,000
27,974
83,830
F lo u r.............tons
95,611
108,000 1,380,000 1,464,000
67,446
32,282
R ice .......................
84,961 2,492,000 3,104,000 3,480,000
93,631
Sugar, colonial.. .
90,747
17,680 1,384,000 1,172,000 1,804,000
Sugar, foreign . . .
59,654
32,899
26.740 1,660,000 1,300,000 1,327,000
23,222
27,947
Coffee....................
C oals.................... 3,817,161 3,915,519 4,205,721 3,572,000 3,400,000 3,212,000
5,037
140,600
244,000
304,000
Machinery............
2,294
4,183
94.740
804,000
916,000
684,000
118,209
127,272
Pig-iron................
22,957
528,000
700,000
256.000
68,696
Ear-iron and rods.
54,610
11,093 1,508,000 1,196,000 1,444,000
11,791
91,399
Copper..................
20,478
576,000
604,000
516,000
23,928
33,942
Lead......................
25,499
636,000
496,000
712,000
25,605
19,139
Zinc.......................
233
...................................................
Tea.........................
183
197
Nitrate of soda &
13,172
292,000
212,000
392,000
8,061
potass................
10,452
......... 20,876,000 24,488,000 25,862,000
Miscellaneous.

The importation o f wines and spirits seems to hold a grade nearly as
high in point of quantity as the exports of the same articles. The value,
however, shows a great difference. The spirits imported are 31 francs
per gallon, and when re-exported are 8^ francs per gallon. This indicates
the operation of exporting from the United States “ pure spirits” to be
“ worked” (travaillees) in France, and then re-imported as French liquor,
to be called any name that the buyer fancies. The importation of grain
has been and continues large. The decree of September 5, 1853, pro­
roguing the duties on grain, flour, rice, potatoes, and dried vegetables, has
been renewed annually, and October 9, it was again renewed to September
30, 1859. It facilitates the import of grain into France, but as the crops
are good it may be taken rather as a disposition to persevere in the way
of modified duties. When the English corn duties were modified in 1842,
the question was discussed also in France and Belgium as well as in Eng­
land, and the protectionists in all three countries declared that each coun­
try would be ruined by the others. According to the English and Bel­
gians the surplus of France would destroy agriculture in those countries,
and the French writers proved to a demonstration that the surplus-of
England and Belgium would put an end to grain growing in France.
The result has been that each nation consumes all its own grain and
more besides. Belgium imports 94,000 tons and prohibits the export,
France imports 400,000 tons and stops her exports, and Great Britain
imports 800,000 tons and has none to spare, while the price in each
country is this year lower than for some years previous. British agricul­
ture was also to be ruined by French cattle. The above figures, shows a
considerable import into France, which obtained last year 69,891 head o f
cattle more than in the preceding year, and at a less cost by £124,000,
which fact may be taken as evidence of improvement in the feeding and
condition of the population, and is, moreover, one of the benefits o f pro­
gress towards free trade, since the inhabitants of France are so far pro­
vided with better nourishment and at less expense.
The importation of rice wras very considerably increased, but at low
* In this number there has been a decrease in horned cattle and an increase in sheep.




677

Trade o f France.

prices, since she got 95,611 tons at $8 per ton in 1857, while she paid
$11 per ton in 1835.
The consumption of foreign and colonial sugar
declined under the rise in the value of that article and the substitution of
beet-root sugar. It is remarkable, however, that the consumption of
coffee has not increased, while that of tea has largely improved. The
general result is of a large and healthy business, following those articles
which are necessary to the maintenance of French manufacture
The
removal of all duties on those articles would give a great impulse to
their trade.
The most interesting feature in French commerce is, however, the
movement in the precious metals. These have been as follows :—
VALUE OF GOLD AND SILVER IMPORTED INTO, AND EXPORTED FROM , FRANCE, FROM THE OF­
FICIAL RETURNS IN EACH YEAR FROM

1849

TO

1851, INCLUSIVE,

CONVERTED INTO BRITISH

MONEY AT THE RATE OF TW EN TY-FIVE FRANCS TO THE POUND STERLING.

,---------------- Gold.-----------------,
Imported.
Exported.

1849
I860
1851
1852
1853
1854
1855
1856
1857

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

£416,000
2,440,000
4,600,000
2,360,000
12,720,000
19,200,000
15,236,000
18,600,000
22,748,000

T o ta l.......................

£154,380,000

£224,000
1,760,000
1,240,000
1,680,000
1,160,000
2,560,000
6,500,000
3,380,000
4,916,000
£34,944,000

.----------------- Silver.------------------,
Imported.
Exported.

£11,640,000
6,160,000
7,120,000
7,160,000
4,480,000
3,960,000
4,836,000
4,395,000
3,932,000

£1,840,000
3,280,000
4,000,000
7,280,000
9,160,000
6,520,000
12,720,000
15,740,000
18,324,000

£64,883,000

£78,864,000

This gives a total in nine years as follows :—
Gold.

Silver.

Total.

Imported................................................
Exported................................................

£154,380,000
34,944,000

£64,883,000
78,864,000

£219,263,000
113,808,000

Excess import................................
Excess export................................

£119,436,000
...................

.................
£13,981,000

£105,455,000
...................

Thus, France has been greatly enriched with the precious metals. The
large import of silver in 1849 was the result of the revolution and social­
ist fears of the public, when they gave their goods for silver to hoard
almost at any price. It was not until 1852 that the silver began to flow
out of France and gold to be substituted. The result is that France has
her full share of gold. The operations of the Bank of France in buying
gold since the 11th of July, 1855, have gone far to keep up the current into
France. The trade between the United States and England is always
largely in favor of the United States, but the reverse is the case with
FTance ; consequently, there are always American bills running on Eng­
land in favor of France, which, being bought up, have favored the purchases
of gold, which have amounted as follows
PURCHASE OF GOLD BY THE BANK OF FRANCE.

July 11 to December 81, 1855 .........
Year 1856 ......... ................................
Year 1857 ............................................

Gold
purchased.
254.400.000
557.900.000
664.600.000

Premium
paid.
3.920.600
6,249,800
4,046,000
1.044.600
631,200

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

1,376,900,000

15,892,200




678

Trade o f France.

The premium in 1857 was about two-thirds that o f 1856, but the
average cost of the purchases was 14 per cent, including the cost of trans­
portation to branches and back. These purchases o f gold enabled the
bank to sustain its line of discounts beyond what they otherwise would
have been, and, consequently, to increase its profits, which have been as
follow s:—
1855 ....................................francs
1866 ..............................................
1857 ..............................................

Dividends.
18,250,354
24,821,062
30,477,500

Per share.
1st 6 mos. 2d 6 mos.
100
100
137
135
160
174

The law, or rather the bank statute, of the 9th of June, 1857, has, it is
well known, brought some substantial alterations into the organization of
this great credit establishment, the most important o f which was, that of
doubling the original capital o f the bank, which was found to be insuffi­
cient, and no longer in harmony with its increased business. For this
purpose, the number of shares o f 1,000 francs each was increased from
91,250 to 182,500, with the limitation, that the holders of the old shares
only should be entitled to the new ones. From a table annexed to the
report it is shown, that, at the end o f the year 1857, the 182,500 shares
had been concentrated into the hands of only 6,888 shareholders, making
an average o f more than twenty-six shares to each holder. But there
had been 7,454 transfers of 52,084 shares; so that more than one-fourth
of the shares had changed hands within the year.
, W e may here remark, that of the 55,786 transfers (comprising 385,440
shares) which have taken place during the whole decennial period, only
2,170 (including 32,277 shares) were brought about by the death o f the
owners, or by way o f inheritance.
As a compensation for the compulsory doubling of the capital, govern­
ment has released the bank from the legal limitation o f the rate of in­
terest, namely 6 p ercen t; and the crisis of the last quarter o f 1857
afforded her an opportunity of availing herself of this exceptional per­
mission ; for the rate of discount which had been reduced to 54 per cent
on the 26th of June, was advanced on the 13th of October to 61 per
cent, on the 20 th of October to 74 per cent, and on the 11th of Novem­
ber to 8, 9, and 10 per cent, according to the nature of the bills under dis­
count— whether one, two, or three months’ date. On the 27th of Novem­
ber the rate was reduced to 7, 8, and 9 per ce n t; on the 7th of Decem­
ber it was reduced to 6, 7, and 8 per cen t; on the 18th the rates were
equalized to 6 per cen t; and on the 29th to 5 per cent. The short dated
paper which the bank had insisted upon in 1856 was now taken into con­
sideration, in consequence o f the high rate o f interest. During the sixtyfive days, when the bank charged more than 6 per cent, the profits o f that
excess amounted to 1,535,506 francs, (£57,420,) which, by the law o f the
9th of June, 1857, was not devisible amongst the shareholders, but added
to the capital. The law was intended to weaken the prospects which
might stimulate the bank unnecessarily to increase the rate o f interest
in times of pressure, for the mere sake o f profit. The intended check,
however, was not sufficiently strong; for, during the crisis, an opinion
generally prevailed, that the Bank of France had too rashly followed the
rapid changes made by the Bank of England, and to a far greater extent
than was justified by the relative state of the money market in Paris.
The figures given in the report seem to justify this opinion ; for, by the




679

Trade o f France.

high rate of discount, the bank had not only counteracted the increasing
demand for credit, but had reduced it below the average standard o f seven
years, as shown in the following table of monthly discounts:—
DISCOUNTS OF THE BANK OF FRANCE IN 185'7.
Parisian bank,
millions.
January ..................................
February................ ................
March......................................
A p r il......................................
M a y ........................................
June.........................................
J uly.........................................
August....................................
September.............................
O ctober..................................
N ovem ber.............................
D ecem ber.............................
Total............................

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

138.4

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

200.4

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

102.3
283.4

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

153.0

Branches,
millions.
337.6
294 2
274.8
293.3
241.2
49.1
583.5
264.6
309.0
293.6
203.7
261.9

Total,
millions.
501.1
432.6
448.7
493.7
389.1
151.4
866.9
412.9
487.3
481.4
356.7
466.2

3,406.5

5,488.0

The last line o f the table shows that the discount operations had gen­
erally increased, to which the branches have contributed more than the
half. This is the most interesting phase in the recent historical develop­
ment of the French bank. Until 1845, the bank had not made the least
use of her privilege to establish branches in the provinces; she did not
think worth while to come into direct connection with the provincial
merchants. She was only induced to make some attempts in that line,
after some private banks had been established, and had successfully car­
ried on operations in discounts and deposits in the provinces. She had
at first only nine branches, until the law of 1848, by which the provincial
private banks were dissolved, and which compelled the Bank of France
to establish branches in the provinces. A t the end of 1857, thirty-nine
of these branches were in full operation, while four more are to be opened
in the course of the present year. The bank had considered the obliga­
tion of erecting branch banks as a burden and as a sacrifice, and she com­
plied with the instruction slowly and reluctantly. Now, however, it
shows itself, that the provincial banks possess the elements of develop­
ment to a far greater extent than does even the principal bank herself.
They contribute already more than three-fifths to the total operations of
the bank, though their share in the total working expenses, which
amounted in 1857 to 5,400,000 francs, is less than the half. To the
gross profit, amounting in 1857 to 40,831,549 francs, the branches have
contributed 17,139,993 francs.
The accumulation of metals in the French bank had in September,
1858, reached an amount larger than ever before, $116,953,872, and the
rate of interest was again lowered to 3 per cent, and the discounts had
fallen to 199,000,000 in the branches, and 170.6 millions in the Paris
Bank, indicating a very low state of trade for the season of the year.
The operations of the branch banks in the departments has aided, no
doubt, in connection with the relaxations in commercial restraints to pro­
mote activity in the local manufactures, and by so doing to stimulate into
activity that industry on which depends the ability of the people to con­
sume dutiable goods, by creating an equivalent for them. The operation
of railroads has also been to distribute money in the departments for
local labor, and, by so doing, not only to enhance the means of purchasing
goods, but promoting the ability to do so.




Trade o f France.

680

The official report remarks as follows on the trade of France with each
country in 1857 as compared with 1847. The table of exchanges, with
each country separately, gives the following results :—

England..............
Belgium..............
Switzerland........
Sardinia..............
Zollverein..........
Russia................
S p ain .................
Turkey................
Two Sicilies.. . .
H olland.............
Hanse Tow ns.. .
Norway, Sweden,
and Denmark.
Austria.............
Roman States.. .
Portugal.............

1847.
1887. Inc'se
Millions. Millions. p. ct.
974
272 Greece ...............
262
410
100
210
Total...............
181
406
129
148
249
68 United States . .
130
422
125 Brazil..................
122
4 Other States of
127
120
156
America..........
307
88
220
117
72
86
Total...............
50
82 A s ia ...................
38
69
59
37
59 Africa.................
French colonies—
35
49
40
Algeria...........
31
55
77
23
40
74
8
15
88
Total...............
18
5
260

1857. Inc’se
1817.
Millions. Millions. p. ct.
250
4
14
—
—
—
132
3,520
1,541
100
645
323
185
134
47

496
40
48

1,148
148
136

200
—
142
270
183

73
162

134
243

70
50

2,340

5,328

128

126
—

369
—

The average increase of the commerce o f France is, for the ten years
between 1847 and 1857, in the proportion of 128 per cent. But the
trade with some countries more particularly, as is seen by the above
table, has assumed still greater extension, and the seven following are
named in the order of relative increase :— England, Asia, Portugal, Greece,
the Zollverein, Brazil, Africa, Spain, and Switzerland. The same work
presents us likewise with a valuable comparison of the trade of the prin­
cipal French ports :—
Imports, Exports, Total,
millions, millions, mill.

Imports, Exports, Total,
millions. millions. mill.

Havre............... .
Marseilles.........
Boulogne..........
Bordeaux..........
Paris................
Saint Louis . . .
Jeum ont..........

541
675
154
133
4
150
183

729
458
176
150
273
109
20

1,270
1,133
330
283
277
259
203

Lyons...................
Nantes...............
Dunkerque.........
Strasburg............
Valenciennes....
Rouen.................
Cette...................

..

93
80
43
38
41
34

154
26
37
61
29
25
27

154
119
117
94
67
66
61

This table brings strongly into relief the preponderance o f our two
principal commercial ports, Havre and Marseilles; the first, the key of
the transatlantic trade— the second, of the Mediterranean. W e have
already observed that our total traffic by sea amounted to 3,830,000,000
of francs, in making up which sum Havre and Marseilles count for
2,403,000,000 francs, or very nearly two-thirds of our entire foreign trade
by sea. Somewhat to our surprise we find Boulogne (the principal port
on the coast for the produce o f French fisheries) entitled to rank as the
third port on the incontestible authority of figures; Bordeaux, the great
medium of intercourse with the American colonies, ranks only as the
fourth; Paris, center of universal operations as a great commercial
capital, must be content with the fifth place ; Lyons does only half as
much business as Paris ; Nantes, the great entrepot o f the Isle of Bourbon
and Brazil, and Dunkerque, one of the great northern timber markets, march
nearly abreast; and Strasburg, which principally carries on business with
Southern Germany and Switzerland, presses closely behind them. The
immense figures attached to the names o f Saint Louis and Jeumont will,
no doubt, cause some surprise. These two frontier towns, whose com-




Trade o f France.

681

merce is set down at 462,000,000 francs, are the two most important
points of the transit into Switzerland and Belgium. Through Jeumont
enter more than 100,000,000 francs’ worth o f cotton and silk tissues
which only cross our territory, and 15,000,000 francs’ worth of coals from
the pits o f Charleroi; Saint Louis, among other articles, has the great
transit of cotton from Havre for Switzerland.
If we refer to the shipping returns, the same progressive advance ap­
pears to have been made. The total number of vessels entered in 1855,
of all descriptions, was 22,987 ; in 1856, 25,673; and in 1857, 25,736;
so that during the last year, notwithstanding the crisis, there was a slight
increase.
The vessels which entered and their tonnage, French and
foreign, were as under during the three years:—
VESSELS ENTERED.

French.........................................
F oreign ......................................

1855.

1856.

1857.

9,587
13,400

10,312
15,361

10,971
14,755

The total tonnage which entered in 1857 was 4,121,777, o f which
1,636,917 was French. In 1856, the total tonnage was 4,068,781, of
which 1,248,086 was French ; so that the French tonnage of ships en­
tered considerably increased:—
VESSELS CLEARED.

French.........................................
F oreign ......................................

1855.

1856.

1857.

5,768
8,002

5,950
8,383

7,010
8,967

1,052,135
1,255,355

1,213,822
1,376,344

TONNAGE.

French.........................................
F oreign ......................................

933,948
1,096,750 .

The information contained in the above returns is highly important to
the commercial and manufacturing part o f the community, and affords
data by which the commercial policy of France must be judged. It seems
that although France has great agricultural resources, she is a large im­
porter of grain and flour ; and also o f coals and machinery. In her ex­
ports she is a powerful competitor in many of the English domestic
manufactures, such as glass, soap, paper, leather, gloves, dress, and furni­
tures. So that whatever complaints may be made against the restrictions
upon French commerce and manufactures, they have not succeeded in
impeding the progress o f French trade and navigation, which increase
rapidly as those restrictions are modified.
The customs duties o f France have undergone an increase following
the development o f trade indicated in the above tables. These duties
have been as follows :—
CUSTOM8 DUTIES OF FRANCE.

1852
1853
1 854
1855
1857

..
..
..
..
..

Salt dues. Miscellaneous. Navigation.
27,0 01 ,9 0 4
2,787,878 3,304,143
28,111,575
3,120,262
3,210,637
26,602,743
3,851,750 2,099,014
3,104,203
28,231,147
3,256,671
29,588,200 2,431,202 4,147,109

E xport
2 ,273,977
1,881,858
1,507,838
1,373,792
1,807,698

Import.
139,863,655
141,607,552
150,587,303
190,398,745
183,222,001

Total.
175,235,557
177 ,93 1 ,8 8 4
184,648,652
226 ,36 4 ,8 6 4
2 2 1 ,19 6 ,2 1 0

The aggregate has gained 42,000,000 on the import duties since 1852,
and the general figures show an increase in the consumption of dutiable
products in France. It will be borne in mind that these figures do not
include the tobacco regie, which yields a large revenue in addition.




682

Commercial and Industrial Cities o f the United States

Art. III.— COMMERCIAL AND INDUSTRIAL CITIES OF THE UNITED STATES.
NUMBER LIX.

E V A N S V I L L E ,
S I T U A T IO N

OF T H E

INDIANA.

C I T Y — F O R M A T IO N — O R I G IN OF N A M E — S E A T

OF V A N D E R B U R G H

CO U N TY— IN C O R ­

P O R A T E D — F I R S T T A X L I S T — R O U T E S T O M A R K E T — D E P O T F O R B O A T M E N — S T A T E B A N K — IN T E R N A L
IM P R O V E M E N T S — C A N A L — R A I L R O A D S — I N F L A T IO N O F

1836—

C O M P L E T IO N OF C A N A L — S U R R O U N D IN G

B O IL — M IN E R A L W E A L T H — IR O N W O R K S — C O A L — G E N E R A L A D V A N T A G E S — P R O G R E S S O F R A IL R O A D S
— P O P U L A T IO N A N D T R A D E — M E R C H A N D IS E S A L E S — G R O C E R Y B U S IN E S S — D R Y
R E A D Y -M A D E

C L O T H I N G — M A N U F A C T U R E S — F O U N D R IE S — F U R N I T U R E — S T A R C H

M I L L — S H I P - Y A R D — C O M M IS S IO N B U S I N E S S — T A B L E
— S T E A M B O A T S — B A N K IN G — S T A T E

G O O D S B U S IN E S S —
FA C TO R Y— PAPER

OF E X P O R T S — T O B A C C O M A R K E T — IIA Y — F L O U R

B A N K — B A N K OF T H E

STATE

OF I N D IA N A — I N S U R A N C E

COM ­

P A N IE S .

A m o n g the cities o f the W est that have apparently a brilliant future
before them, Evansville, Indiana, is one of the most promising. It is
now the principal commercial city of that State, and is situated on the
Ohio River in latitude 38° 8' north, and 87° 29' west. The altitude, at
Evansville, o f the Ohio River at low water mark is 320 feet above the
level of the Gulf o f Mexico at the outlet of the Mississippi. The eleva­
tion of Water-street above the Ohio, at low water, is 50 feet, thus making
the base of the site of Evansville 370 feet above the sea.
The city is located on an elevated plain or second bottom of the Ohio
River, and is entirely above the highest floods. The plain is not entirely
level, but is interspersed with small hills, and a few of considerable extent
and elevation.
Oak Hill, about two miles from the city, rises about
seventy-five feet above the surrounding plain, and is one of the most ex­
tensive and beautiful.
In 1813, Warrick County was formed out of that portion of Knox
County south of “ Rector’s base line,” extending from the boundary of
Harrison County to the Wabash River, and Evansville was fixed upon as
the county seat.
A range of limestone hills touches the Ohio River immediately below
the city, and receding in a north and east direction, overlooks the plain
below, and affords a fine view o f Evansville, the Ohio River, and the blue
hills of Kentucky.
In 1817, General Evans and James W . Jones, Esq., united with Colonel
McGary to remodel the town, and to call it Evansville, in honor o f
General Robert M. Evans. This year a number of lots were sold, and
attention was attracted to it as a convenient landing point for Vincennes
and other towns on the Wabash.
In 1818, Vanderburgh County was formed from part of Warrick, and
named in honor of Judge Vanderburgh, one of the territorial judges and
early settlers of Indiana. In the same year commissioners were ap­
pointed by the Legislature to fix the permanent seat of justice of Van­
derburgh County, who reported in March, to the County Commissioners,
“ that in consideration of the local advantages of Evansville, and o f a
liberal donation by the proprietors, of one hundred lots and $500 in cash
or such materials as will suit in the erection of the public buildings, they
have established and fixed the permanent seat of justice o f Vanderburgh
County at Evansville.”




Evansville, Indiana.

683

The town must hare progressed rapidly, for in one year from the estab­
lishment of Evansville as the county seat, it became an incorporated town,
bv the election of Hugh McGary, Isaac Fairchild, Everton Kinnerly,
Alfred Warner, and Francis G. Bentley, trustees; Hugh McGary was
chosen president, and Elisha Harrison, secretary and lister of taxable
property. John Conner was treasurer, and William Putnam collector
and marshal. The first levy was twenty cents on the one hundred dollars
o f “ real property,” and a specified tax on several kinds of personal pro­
perty. Among the enumerated articles, “ on each bound servant o f color,
sixty cents.” The value of “ taxable property” is not given on the record,
but the total of the tax duplicate amounted to $191 28J.
In 1820, John W . Dunham, Daniel F. Goldsmith, Presley Pritchet,
W in. Mills, Jr., and John G. Chandler, were elected trustees. John M.
Dunham was chosen president, James A. Boiss was appointed secretary,
and Alonzo Warner, treasurer. From 1822 to 1828 but ver}r little pro­
gress was made. In looking over the “ corporate records” we find it strug­
gling for a mere existence. The tax duplicate increased but little, and
the delinquent list was large in proportion to the amount. The principal
items of outlay was for protecting the river bank and draining low grounds.
From 1828 onward there seemed to be some progress. The interior had
become more inhabited, and produce found its way to market in flat
boats from the Wabash and White Rivers and their tributaries. The con­
venient proximity o f Evansville to those interior water courses made it a
favorite landing point for returning boatmen. During the spring and
early summer months, thousands of boatmen would land and wend their
way homeward, as best they could, with the hard-earned wages of their
“ trip” or the “ proceeds” o f their “ loads of produce,” some on foot, some
in wagons, some in “ hacks.” In fact, every mode and manner of convey­
ance would be in requisition, on the landing of a favorite steamer, with
her decks crowded with hardy boatmen returning to their homes on the
Wabash and White Rivers. Thus Evansville became known and appre­
ciated by the interior as the “ Landing for the Wabash.”
In 18 4, on the establishment o f the State Bank, Evansville was as­
signed a branch. This gave an impetus to business.
In 1835—30, on the passage of the internal improvement bill, it was
made the southern terminus of the Central and Wabash and Erie Canal.
The Central Canal was intended to pass from Muncietown, through In­
dianapolis, to Point Commerce, where it would be united with the Wabash
and Erie Canal, and, united, form the southern division o f that great
work. This placed Evansville at the outlet o f two o f the richest valleys
in the world. This gave life, vigor, and high hopes of the future. In
the projection of these stupendous works of internal improvement, the
lines on the main were well selected, and had the men of that day been
as well acquainted with the usefulness o f railways as they are now, no
canals would have been built, and the system would not have been such
a complete failure. If, instead of canals, two corresponding railroads had
been projected, they would ere this have been both completed, and Evans­
ville would have had double its present population. But the completion
of these lines of railroads is only a question o f time. One is now com­
pleted to Terre Haute, and will, no doubt, be extended to the Wabash
Valley Road.
The other, following the valley of White River to In­
dianapolis, has been begun, and will ultimately be made, when the times




684

Commercial and Industrial Cities o f the United States:

and people are propitious.
The “ crisis” o f 1837-38 was felt all over
the country. Evansville felt its effects severely. Property, in 1836, had
run up to the fancy rates of northwestern cities. In 1840, the bubble
had collapsed, and much of the property of Evansville passed into the
hands of eastern men, in payment of bad debts, and until 1845-46 had
hardly any value, and the population was stationary, if not receding.
About this time, however, business generally began to improve. A grant
of land had been obtained to extend the Wabash and Erie Canal to Terre
Haute, and subsequently another grant was obtained to aid in the con­
struction of this work to the Ohio Eiver at Evansville. This grant of
land was made the basis o f an arrangement by the State with her bond­
holders for a sale of the Wabash and Erie Canal, and a resumption of
payment of State interest. The completion of the canal then became a
fixed fact, and the town again took a new start. A city charter was ob­
tained in 1847, and in 1850, the population had increased to about
5,000— in 1857, to 12,250, with a steady increase.
The geographical and geological location o f Evansville is extremely
favorable to a large commercial and manufacturing city. Situated about
equi-distant from the Falls of the Ohio and the mouth of that river, (about
200 miles each way,) it has no near rival to compete with, nor no large
city near to overshadow its growth, but is surrounded by all the elements
to support population and create wealth.
The soil of the surrounding country, both in Indiana and Kentucky, is
of unsurpassed fertility. The mineral wealth is not less than the fertility
of the soil. Coal and iron ore underlay the whole country, and “ crops
out” in every direction convenient to the city. A t Adria, on Green Eiver,
sixty miles by water, is established one of the largest iron works in Ken­
tucky. Near Bloomfield, on the Wabash and Erie Canal, is “ Kichland
Furnace,” the largest iron works in Indiana, and surrounded by the largest
deposits o f iron ore in the State. The Wabash and Erie Canal, and
slack-water navigation of Green Eiver, afford a cheap and certain trans­
portation of these materials o f wealth to the manufactories o f Evansville.
Coal is found all along the Ohio from Cannelton to Tradewater, and all
along the Wabash and Erie Canal from Evansville to Worthington, and
on Green Eiver from its mouth to its fountain head. With this abundance
of iron and coal, and so conveniently situated to the cotton fields o f
Northern Alabama and Western Tennessee, being only one hundred and
fifty miles from the mouth of the Tennessee Eiver, and with an energetic
and industrious population o f thirteen thousand, is it not reasonable to
suppose that Evansville will shortly become a large manufacturing city ?
The advantages of location in a commercial aspect are equally favorable.
Green Eiver flows through one o f the finest regions of Kentucky, and
falls into the Ohio nine miles above the city. The trade from this region
is large and will increase, as no place is so well situated to accommodate
this trade as Evansville. The Wabash and Erie Canal has its southern
terminus at this city, and is said to be the longest canal in the world,
(462 miles.)
This canal follows the Maumee Valley to Fort Wayne,
descends the valley of the Wabash to Terre Haute, then crosses in an
easterly direction by the valley o f Eel Eiver to the west bank o f White
Eiver. A t Newberry, a large dam is thrown across W hite Eiver, and
the water of that stream is forced into the canal, and conducted across
large streams and over dividing ridges to Evansville. The momentum or




Evansville, Indiana.

685

current in this canal is considerable, and in its way from Newberry to
Evansville affords some very valuable mill power. A more fertile region
than is traversed by this canal cannot be found of equal extent on the
face of the globe. The canal brings to the city a large and growing com­
merce. It opens an outlet that will increase as it becomes better known
for the products o f the South to the Northern lakes. The sugar and
molasses of Louisiana, the cotton of Mississippi, Tennessee, and Alabama,
and the tobacco o f Kentucky could be shipped to advantage to the lake
region by this canal.
Neither the “ canal packet” nor the swift “ floating palace” will satisfy
the rapid locomotion of the present, and a city or town without a railroad
or telegraph is behind the age. Evansville has kept up with the age of
improvement, and is in “ connection with the world.”
The Evansville
and Crawfordsville Railroad, completed to Terre Haute, 108 miles, cross­
ing the Ohio and Mississippi Railroad at Vincennes, and connecting with
the Terre Haute and Alton, and Terre Haute and Richmond, at Terre
Haute, gives a railroad connection in every direction. This road is graded
nearly to Rockville, Parke County, and it is the intention of the com­
pany, as soon as practicable, to extend the road to Attica or Crawfordsville,
giving a through connection with the Wabash Valley Roads to the lakes.
This road brings a large commerce to Evansville, especially in the winter
and spring months, when shipments are being freely made to the South.
The numerous local packets plying from and to the Wabash and Green
Rivers, and up and down the Ohio, bring a large local trade, and, when
to this is added the millions that are exported and imported from and to
New Orleans and other seaboard cities, place Evansville among the com­
mercial cities of the West, and give a cheering prospect for the future.
W e have the location, the industry, and the energy to make a first-class
city. Let our advantages be made known, let us invite capital and enter­
prise to join us, let us establish a high and honorable standard o f mer­
cantile honor, let our practice be always to do right as a principle, as well
as for our interest, and Evansville will be to Indiana what Cincinnati is
to Ohio, Louisville is to Kentucky, St. Louis is to Missouri, and Chicago
is to Illinois.
The trade of Evansville, as well as its population, has increased rapidly
since 1850. The population, which was then 3,000, is now 12,500, and
the exports of the place are $7,053,216 per annum. The sales of mer­
chandise in a year are given as follows :—
MERCHANDISE SALES.

Groceries................................... 12,031,629
Dry goods.................................
845,271
Clothing, ready-made and man­
ufactured................................
198,900
Iron and hardware...................
276.000
Carriage trimmings and sad­
dlery hardware.....................
60,000
Boots, shoes, hats, and caps. . .
156.000
29,600
Millinery and variety goods . .

Books and stationery...............
Jewelry, watches, & silverware
Leather and findings...............
Drugs and medicines.................
Queensware and glassware.. .
Auction and commission sales .
Pine lumber and shingles__ _
Total sales

$24,000
24,600
64,835
78,065
61,000
65,700
169,000
$4,076,000

In addition to these branches of business, the committee o f the Board
of Trade remark as follow s:— The wholesale grocery business is the lead­
ing branch of trade, and amounts to almost a million and three-quarters.
The whole grocery business amounts to upwards of two millions of dol-




686

Commercial and Industrial Cities o] the United Stales :

]ars in the aggregate, and is over one-half o f the merchandise sales o f
the city. The wholesale liquor business is included in our “ grocery
sales,” as many o f our largest grocery merchants deal also in liquors, and
but few houses deal in liquors exclusively. The retail liquor trade, for
some reason, has been overlooked, and no information has been collected
from coffee-houses or drinking saloons. Of the aggregate amount o f
grocery sales about $150,000 is at retail, and divided by dealers whose
sales are less than $10,000. About $300,000 is sold by that portion who
do a wholesale and retail business combined, and over a million and a
half is sold by those dealing exclusively at wholesale. The amount of
groceries sold the past year has no doubt been largely diminished in
quantity, owing to the high range of prices for sugar and molasses. The
partial failure of the Louisiana sugar crop turned the attention of dealers
to New York for their supplies of these staples, and no doubt decreased
the sales in our city of sugar and molasses, and, as a necessary conse­
quence, of other kinds of groceries.
W ith the usual supplies o f sugar and molasses from the plantations of
Louisiana, the grocery trade o f Evansville might be very largely increased
and extended, from the convenient location of our city as a shipping
point, if a sufficient amount o f capital, and a corresponding enterprise,
were engaged in it. The staple articles of this department of trade are
molasses, sugar, and coffee, all o f which require cheap transportation to
enable the retailer to sell cheaply. The grocery merchants o f Evansville
should supply the whole Wabash Valley, even to Toledo, by the cheap
transportation of the Wabash and Erie Canal, the Wabash River, and
the Evansville and Crawfordsville Railroad. The slack-water navigation
of Green River, so convenient to our city, enables our merchants to de­
liver heavy goods to Southern Kentucky at a lower rate than any city on
the Ohio River. When aided, as they are, by the excellent and regular
Green River packets, this advantage alone should give Evansville the
whole Green River grocery trade, as well as every business where freights
are a considerable item of cost. The grocery trade o f our city has been
a very successful one. Our merchants engaged in it have all made money,
and if the capital employed in it was doubled, or even quadrupled, with
corresponding energy, I have no doubt it vrould he equally successful.
The retail dry goods business of Evansville (which is principally for cash)
has not increased in the same ratio with other departments o f trade. It
is principally confined to the city and vicinity. The railroad and canal
have about annihilated the “ wagon trade,” which in years gone by
brought a large and profitable retail business to our city.
But in its
stead rve have a large increase in the wholesale trade. The produce that
found its way here in wagons is now collected at the “ stations ” and
“ shipping points” on the railroad and canal by country merchants, who
find this a good market and convenient shipping place for their produce;
and where this produce is sold or changes hands, it is always most con­
venient to purchase supplies. This is a fixed law of trade, and cannot
be long violated if proper facilities are offered to purchasers. The whole­
sale dry goods business of our city has increased ten fold in a few years.
Cheap rents, cheap living, together with the close personal attendance
paid by our merchants to their purchases, as well as sales, enable them
to compete successfully with any Western city. The sales o f ready-made
clothing are, no doubt, larger than appears in the table, as nearly all our




Evansville, Indiana.

687

wholesale dry goods houses keep more or less ready-made clothing. There
is also a considerable portion of the ready-made clothing that ought to
be classed as “ manufactured articles,” as some o f our largest wholesale
dealers in clothing manufacture nearly all they sell. The sales of clothiers
have also been classed with “ dealers in clothing.”
The value of articles manufactured, it appears, bear a large proportion
to the sales of merchandise. The figures are as follows:—
VALUE OF MANUFACTURED ARTICLES.

Flour and shipstuffs......................$477,000
Feed and meal.............................
10,000
Cabinet ware and chairs............
96,000
Stoves and other castings.......... 120,000
Steam-engines built and repair’d 165,000
Steam-boilers manufactured.. .
33,000
Saw mills, sales of their products
62,000
Planing mills, sash, door, and
blind factories.........................
35,000
Cooperage....................................
20,000
Manufactories o f tobacco and
cigars, (also sa les).................
43,000
Stoneware....................................
11,000
Bakers and confectioners...........
67,000
Coppersmiths & sheet-iron man­
ufactories..................................
10,000
Brass founders............................
6,000

Edge-tools manufactured...........
Blacksmiths, wagon maker, and
carriages.................................
Lard, oil, candles, and s o a p ___
Agricultural implements, smut
mills, A c .................................
Saddlery and harness...............
Breweries—ale and porter........
Tanneries— domestic leather. . .
Mattrass manufactories..............
Printing and book-binding.........
Tinware, and sales of stoves and
house-keeping g ood s..............
Marble and stove manufactories
Sales of brick.............................
Whitesmiths and gunsmiths... .

$5,000
65,500
37.000
13,400
35,-200
58.000
50,835
14,355
29,300
73.000
50,618
35.000
12,500
1,708

O f these figures the Board o f Trade report, by M. W . Foster, Esq., re­
marks as follows:—-The manufacturing interest is fast gaining on the
commercial, and but few years will be required before it will far exceed
it, as a means of creating wealth, and bringing general prosperity to our
city. The foundries and machine shops stand at the head of this list.
The milling interest produces the largest amount of sales; but the labor
in converting wheat into flour leaves a much less margin o f creative
wealth than converting iron into steam-engines; and, again, there are
perhaps as many hands employed, and as many families fed and clothed,
by the foundries and machine shops as are employed and fed in selling
all the merchandise of our city. Next to the foundries are the furniture
and chair factories. Two of them are operated by steam, and give em­
ployment to a large number of hands. The sales o f furniture are nearly
all created wealth; timber costs here but little, and all other materials
used are but a tythe of the value that furniture assumes when finished
and varnished like a mirror. There is in this business, as also in many
others, small manufacturers of the necessaries and comforts o f life, laying
the foundation on which manufactories are built on a larger scale; these
are at work in our midst, and will develop themselves as the capital is
acquired by labor and economy. W e have a first-class starch factory just
commenced operations, that is making very superior starch, and will be
able to supply that article at the very lowest rates to the trade. W e
have a paper mill nearly ready for operation, and if it decreases the ex­
portation of rags and the importation o f paper, will not decrease the
business wealth of the city. A steam cooper shop will soon be ready for
operation, that will aid to supply cooperage for the increasing demand by
millers, pork-packers, and distillers. Our ship-yard, which was commenced
last year under disadvantageous circumstances, has only turned out one




688

Commercial and Industrial Cities o j the United States:

boat this year, but that one shows what can be done, and having now got
fairly under way, we hope that several will be launched by Mr. Tilston
next year, and that other yards will be established to convert into mag­
nificent steamers the excellent timber of our hills and valleys, which can
be supplied in any quantities by the canal and Green River.
The export trade o f Evansville for the present is the most important,
and from the nature of the surroundings of the city, situated so favor­
ably in the great Yalley o f the Mississippi, it must grow to embrace a
large mineral interest:—
EXPORTS V IA CANAL, RAILROAD, AND DIVER.

Quantity.
775
B arley...............
912
Beans ............... . . bbls.
101,683
C orn ..................
Dry goods......... . boxes
3,028
Boots and shoes
5,127
Oats (59,310 bu.). sacks 19,770
Clover cfetim’y seed .bu.
6,382
Flax-seed..........
5,925
Wheat (52,699 bu.) sks. 25,699
6,954
Ale and beer.. .
3,260
D ru g s............... boxes
2>47
62,228
Flour.................
Fish..................
1,023
Lime..................
10,371
1,158
Hydraulic cement........
444
Oil ...................
49,628
Pork..................
58,814
Salt...................
W hisky............
6,397
647
Tar....................
V in ega r...........
670
1,611
Hardware.......... boxes
Butter................
1,118
10,058
Bacon................
Pork in bu lk .... pieces 53,428
3,083
Cheese...............
Coffee.................
9,241
1,645
Candy................ . boxes
3,126
Crackers............
215
Clocks................

Yalue.
$1,947
3,648
101,683
575,200
156,000
19,717
30,000
5,925
52,000
42.000
40,000
47^500
500,000
10,000
10,000
3,000
11,100
742,420
117,628
63,970
2,400
2,000
64,000
6,700
650,000
85,000
9,000
184,000
9,000
15,500
2,500

Stoneware........ . .lbs.
Eggs..................
Dried fruit........
Candles.............. boxes
Cotton yarn . . .
Feathers.............
Glass & glassware.. bx9.
Wrought marble, .tons
Iron..................
Castings............
Leather.............
Molasses............
Nails.................. •kegs
Queensware___ crates
Gunpowder. . . .
H a y ...................
Rags..................
Saleratus&,soda. .kegs
Shot & lead. bgs & bdls.
Soap..................
Sugar ...............
Leaf tobacco.. . .
Manuf. tobacco. boxes
W ool.................
Hides and skins. . .No.
Fruit................. boxes
White l ead. . . . •kegs
Stoves............... ..N o.
Machinery..........
Miscel. articles . •pkgs.

Quantity. Value.
26,896
$5,000
5,240
52,400
1,007
4,100
1,766
11,900
1,615
17,160
1,179
24,000
4,674
16,000
10,170 125,000
1,194
84,000
2,057 120,000
58,896 443,000
40,000
1,203
4,924 123,100
30,468
7,617
12,960
324
1,310
6,550
2,415
7,000
5,053
10,000
1,024
5,000
2,312
5,000
1,683
5,000
6,314 150,000
9,781 1,500,000
1,962
40,000
24,000
899
10,170 105,000
3,000
1,039
2,462
6,000
5,649
56,000
280
22,400
24,989 500,040

Total.......................................................................................................... $7,053,21.0

The committee remark upon this trade as follows:— The shipping com­
mission business o f Evansville is a large item in our trade, and shows, fa­
vorably, the commercial position we occupy. To me it appears evident
that we occupy the transit point for a large region of country, abounding
in all the commodities of a profitable commerce, and capital alone is
needed to convert our position into a large mart o f trade. The tobacco
alone shipped to New Orleans and New York was last year 10,000 hhds.,
perhaps more— as shipment are made by flat-boats, and not enumerated
on bills of lading— and amounts to about one-fifteenth o f the exports
from the United States to foreign countries, and the value may be set
down at from one-and-a-half to two millions of dollars. It shows that
Evansville can command the material to make her one o f the largest to­
bacco markets in the W est. If, in a season of such unusual scarcity as




Evansville, Indiana.

689

the last year, such a large amount of that article was made to pass through
the hands of her shipping merchants, without any effort or special facili­
ties, it calls on all interested in the prosperity o f the city to aid liberally
efforts now being made to build a first-class tobacco warehouse, as a
pioneer towards making Evansville a tobacco market, where the manu­
facturers of Chicago, Detroit, Toledo, and all Canada West could pur­
chase their supplies, and ship them directly home, either by canal or rail­
road. The value of the products of hay is another large item o f our ex­
ports, and shows what Evansville ought to be as a market for that article.
Flour is also another heavy article o f export. If the productions o f our
city mills are added to the bills of our shipping merchants, the amount
would be largely over 100,000 barrels. I cannot devote the time to il­
lustrate the several articles of export as they deserve, but the tables will
enable you to investigate and elucidate the business of the city at your
leisure. It shows conclusively that we occupy a position as a shipping
point superior to any on the Ohio River, Cincinnati excepted ; and, if
justice was done us by steamboats in our trade, in making proper mani­
fests of our shipments made from our port to New Orleans, no city, with
the exception of St. Louis and Cincinnati, would show as large a freight
list on the bulletin-boards o f the New Orleans Exchange as Evansville ;
and, for the purpose o f having justice done to our commerce, I would
recommend some suitable action be taken by the Board of Trade on that
subject, so that shipments made from our port to New Orleans should be
so reported on the boats’ manifests. Although much care lias been taken
in getting up the table of exports, it no doubt falls far short of the full
amount; several large shippers have been overlooked ; shipments by flatboats are not enumerated ; large amounts o f produce are daily purchased
and shipped by transient persons o f which we have no account; all these
things can be provided against in future reports. The number of steam­
boats that have received and discharged cargoes at the port of Evansville
the last year, ending the 31st of December, was 2,544, as shown by the
register of Mr. P. G. O’Riley, our wharf-master. The whole number
landing at the wharf was 2,669; and out o f the whole number o f boats
that navigate the river, only 69 passed without landing. This is another
illustration of our commercial importance, that out o f 2,738 boats which
passed up or down the river, 2,669 had business with our city.
Banking is so nearly allied to. commerce, and so intimately connected
with manufactures, that writers on political economy have, of late, con­
sidered them in connection. It will, therefore, not be considered out of
place that I should give an outline o f the banking business of the city.
The State Bank of Indiana was chartered and commenced operations in
1834, and its banking powers ceased on the first of January, 1857, having
two years therefrom to wind up its business. Of the branch at Evans­
ville, Samuel Orr is president and G. W . llathbone cashier. A t its organ­
ization, John Mitchell, Esq., was chosen president, which position he oc­
cupied, with the full confidence of the stockholders and the community,
until his death, in 1855, and was succeeded in the presidency by Samuel
Orr, Esq., the present incumbent. Mr. John Douglass was chosen cashier
by the first board of directors, and continued to serve them faithfully
until 1847, when lie retired, and was succeeded by Mr. Rathbone in the
office of cashier. The affairs of the branch are nearly settled up. The
entire capital stock paid in has been returned to the stockholders, and
von. xxxix.— no . vi.
44




690

Commercial and Industrial Cities o f the United Slates.

there is a surplus o f about 60 per cent on band to be divided amongst
them. The dividends declared for the last ten years have averaged 12
per cent per annum. All the branches are winding up equally well, or
nearly so ; and there has been no bank in this or any other country which,
during its existence, has enjoyed a higher credit, or been more popular,
than the State Bank of Indiana, or which, in its final close, exhibits re­
sults so satisfactory as those that have been realized by this time-honored,
well-managed, and most valuable State Institution. It has afforded a
stable and reliable currency for general use; has given aid to produce
and business operations, by loans at reasonable rates o f interest; and has
accumulated a valuable fund o f over a million dollars for common schools.
Such have been some of its advantages to the public, and “ services to
the State.”
“ The Bank of the State of Indiana ” succeeds the “ State Bank.” The
charter of this bank is very similar to the “ old State Bank,” and runs for
twenty years from the 1st o f January, 1857. The authorized capital is
$6,000,000, to be distributed in the various branches. It has twenty
branches. The paid up capital is, at this date, $2,300,000. The branch
at Evansville was organized in March, 1857, and commenced business in
June following, with a paid up capital of $100,000. It has the privilege
of increasing to $400,000, and it is the intention of the stockholders to
increase it to $200,000 during the coining spring. George W . Rathbone
is president and Samuel Bayard is cashier. Both these gentlemen were
officers in the old branch. G. W . Rathbone, Robert Parrett, W . R.
Preston, George Foster, W in. Heilman, W m . Hubbell, R. R. Roberts, are
directors.
The Evansville Insurance Company was organized in 1850, with a
charter combining insurance and banking privileges of a liberal charac­
ter. It has a subscribed capital of $250,000, of which $150,000 is paid
up in cash, the balance secured by mortgage, and the dividends, or earn­
ings, carried annually to the capital. The banking business has been
conducted under the Free Banking Laws, as the Canal Bank o f Evans­
ville, but it is the intention of the board o f directors to withdraw the
circulation, and wind up the business of the Canal Bank, and to use the
capital of the company in legitimate banking, without a circulation to
protect, by the deposit of bonds for its security, and the retention of coin
for the redemption of its notes, as they are rapidly returned by money
dealers. The cash capital of the company will be then actively employed
in affording that accommodation to the trade and business of the city, in
loans and dealing in exchange, that will extend its usefulness and increase
its profits.
The Crescent City Bank o f Evansville was organized in 1853, under
the General Banking Law, and has a paid up capital of $75,000; has
been well managed ; has done a good and legitimate banking business ;
and like the other banks o f our city has always redeemed its notes with
coin ; but the onerous redemptions which it, like our other banks, has
been subjected to o f late by “ assorters o f currency,” have determined
the directors to withdraw the circulation, and convert the bonds on which
their circulation is based, and to do a banking business on the paid up
capital, without having to keep so large a portion of their means in
readiness to meet a circulation so rapidly returning for redemption.
In addition to the Evansville Insurance Company, there are several
agencies of foreign companies doing an insurance business.




Weights and Measures.

691

The commercial crisis has passed over without much affecting Evans­
ville, since there was but little speculative action in that section. The
regular business of the locality was steadily growing under its natural
advantages and the general prosperity of the whole country. There is
no doubt but the vast manufacturing facilities which Evansville possesses
will, as the great valley fills with inhabitants, make that a leading point
for the supply of merchandise. All the raw materials for textile fabrics,
as well as the coal and iron in such juxtaposition as make the cost of
production small, points not only to success in supplying the neighbor­
hood, but in exports; since cotton manufactured so near its place of
growth must rival that which has been transported a distance.

Art. I ? . — W E I G H T S
IN C R E A S E

AND M E A S U R E S .

OF COMMERCIAL RELATIONS— DIVERSITY OF STANDARDS— DIFFICULTIES ARISING FROM

— ATTEMPTS AT UNIFORMITY— EARLY INTRODUCTION OF MEASURES— THE ARK— DERIVATION
MEASURES— HEBREW SYSTEM— ENGLISH SYSTEM— GRAINS— STONE— HAND AND FOOT— FRENCn
— ANGLO-SAXON LAW— MAGNA CHARTA— STAND ARDS KEPT

BY

IT
OF

ELL

SPEAKERS OF nOUSE OF COMMONS

— IMPORTANCE OF UNIFORMITY— THREE STANDARDS— WEIGHT, LENGTH, CAPACITY— COMPLICATION
OF ARITHMETIC— DIVERS MODES OF REDUCTION — LOCAL WEIGHT— BUSHEL— ACRE— STONE— NE­
CESSITY OF AN INTERNATIONAL SYSTEM— ELEMENTS REQUIRED— UNIT OF LENGTH— DIAMETER

OF

THE EARTH— FRENCH MODE OF ESTABLISHING THE UNIT —PROGRESS OF THE METRICAL SYSTEM.

T h e increasing commercial relations which are tending to gather al­
most daily in closer ties, not only the several nations o f the earth, but
the different parts of old settled countries, bring out in bolder relief the
immense difficulties that beset the transactions of life through diversity
in weights, measures, and money. A large proportion of the difficulties
which beset the study o f arithmetic, and which disgust the student and
repel inquirers, arise from the endless and senseless differences in the
manner of arriving at the same object. Probably the most simple thing
in the world is money, or a certain weight of gold or silver to be given
for a certain weight or measure of wheat; yet, so complicated has that
transaction been made by different laws, customs, and traditions, that it
becomes a most difficult thing to comprehend. The new cyclopedia, pub­
lished by the Messrs. Harper, contains thirteen closely-printed royal oc­
tavo pages, merely to enumerate the names of weights and measures
used in the leading commercial countries. The whole of these could, by
a little uniformity of action, be reduced to a few lines, readily compre­
hended by the most obtuse intellect. There has been, of late years, some
progress made towards this reform in several countries of Europe, but
nothing as yet towards an international system. Efforts are being made,
however, to approximate to it, and success can only be ultimately attained
by discussion. Before the Chamber o f Commerce o f Belfast, Ireland,
J. P. Porter, Esq., delivered an address upon the subject. It contains so
much information in relation to local usages, that we transcribe a portion
of it :—
The introduction o f weights and measures is coeval with the dawn o f
civilization— society may exist without them, but not civilized society.
The Laplanders, the Bushmen, the Esquimeaux, the red Indians, have




692

Weights and Measures.

neither weights nor measures ; hut the business o f a city could not go on
for a week without them. Hence we find mention of them at a very
early period in the world’s history.
The dimensions o f the ark were
given to Noah in cubits, and Abraham weighed to Ephron, the Hittite,
the silver which was the price of the field and cave o f Macphela in shekels.
The ammah, like the Latin word cubitus, (a cubit,) by which it is trans­
lated, signifies the fore-arm, from the elbow downwards to the point of
the fingers— ‘‘ the cubit of a man,” as it is called in Deut. iii., 11. The
shekel, like our own English pound, (from pondus,) denotes, etymologic­
ally, “ a w e i g h t b u t among the Hebrews tlio “ shequel of the sanctuary ”
was defined to be of the weight o f twenty gerahs, Exod. xxx., 13 ; Sum .
iii., 4 7 ; Ezek. xlv., 12.) that is, o f twenty beans— for so the word gerah
literally signifies. Let us not despise these rude attempts to fix a common
and natural standard of measures and weights.
Our own system was
originally formed on the very same principle. Silver among ourselves is
sold by the ounce, consisting o f 480 grains; and the grain was at first
what its name implies, a pickle o f dried corn, taken from the middle of
the ear. More bulky commodities are often sold by the stone— a term
which explains itself and bespeaks the rudeness of primeval times. In
measures of length we have the barley-corn, now never used, except in
works of arithmetic, in which it is preserved for the sole purpose, as it
would seem, of presenting an additional puzzle to the hapless children
who are condemned to drudge at our dreary and unaccountable system
of counting; we have the hand and foot, taken, o f course, from the cor­
responding parts o f the human form ; we have the yard, anciently termed
the ell, (ulma,) that is to say, the arm. The word ell is no longer used
to signify the arm in common speech, but it is retained in the compound
el-bow, which means the bow or bend of the arm. And the depths of
the ocean are sounded in fathoms, that is to say, the expanse of the out­
stretched arms. These are very rough standards of comparison— they
fluctuate in size and bulk-—in fact, they are seldom exactly equivalent in
any two individuals; their employment for the purposes o f trade would
open a door to continual fraud, and give rise to perpetual bickerings,
which it is the very object of a system of weights and measures to pre­
vent. Accordingly, means were early taken to reduce them to some
definitely ascertained magnitude, which should be general, at least for
each neighborhood. A t first, the plans employed for this purpose were
almost as rude as the errors which they were designed to correct. In
France, for example, every province under the old monarchy had its own
system of measures for length, surfaces, and capacities, quite independent
of ali the rest o f the kingdom. Sometimes these standards, thus differ­
ing from each other, went by different names in the different provinces,
which occasioned considerable inconvenience to traders; sometimes the
standards used in different provinces, and differing from each other in
magnitude, passed by the same name, which led to still greater perplexity.
In two, at least, of the largest and most populous provinces of France, it
was the custom, which had the force of law, that the standard of length
in each seigneurie, or manor, should be the arm of the seigneur for the
time being. In these districts the death of a short seigneur, if succeeded
by a son six feet in height, and with an arm proportioned to his height,
would ruin half the traders, and make the fortunes of the remainder.
All this has now been rectified; and there is no country in the world that,




Weights and Measures.

693

at present, enjoys the benefit o f a system of weights and measures more
philosophical in its conception, more elegant in the relation of its differ­
ent members, or more convenient in its application to all the purposes of
civilized man, than that now employed in the French empire.
In England, the necessity o f a fixed and uniform standard was felt and
acknowledged at a very early period. In the Anglo-Saxon times, so early
as the reign of King Edgar, about a hundred years before the Norman
conquest, a law was made requiring that a set of weights and measures
should be kept at Winchester, then the capital of the kingdom, by which
those employed in other places should be regulated.
The troublesome
and distracted state of the nation in after times probably occasioned this
law to be neglected. A t all events, great irregularities existed, and were
complained of in the time of King Henry I., the son of the Conqueror,
at least as regarded the unit o f length. To obviate them he made a law
that the length of his own right arm should be the standard yard for his
dominions. This provision also failed to produce the needful uniformity.
In Magna Charta, which was signed in the reign o f Henry’s great-grand­
son, King John, it was stipulated by the 41st section that there should be
only one weight and one measure throughout the whole realm. In later
times it was enacted by Parliament that a standard yard, a standard
pound troy, and a standard gallon— all made of brass, under the direction
o f commissioners appointed for the purpose— should be kept in the cus­
tody of the Speaker o f the House o f Commons; that compared copies
o f them should be lodged in several important towns; and that all legal
weights and measures should be conformed to them. The originals were
lost by the fire which consumed the old House o f Commons, in the au­
tumn o f 1834; but the certified copies, which had been made with as
much care and accuracy as the standards themselves, still exist: and, so far
as these three magnitudes are concerned, no one has ever heard a complaint
o f any want of uniformity throughout the United Kingdom.
But there
are, nevertheless, evils and imperfections in the existing system o f meas­
ures which loudly call for a remedy, and to which it seems strange,
and almost inconceivable, that the commercial community of Great
Britain and Ireland should have submitted even for a single year.
Some of these we shall now endeavor to point out.
In the first place, it is to be remarked that three important portions of
the system are quite independent of each other— we allude to the measures
o f weight, length, and capacity. The pound has nothing to do with the
yard, nor the yard to the imperial gallon. There are thus three distinct
and separate standards; whereas, if a more rational method had been
followed, one would have been sufficient, from which all the rest could
easily have been derived. Secondly, all these standards are purely artificial
and arbitrary; there is nothing in nature that corresponds to any one of
them, or from which they can in any simple or elegant manner be derived.
No one man can give to another, by intelligible words, an exact idea of
the length of a yard or the weight of a pound, otherwise than by placing
specimens of these quantities before him. Hence, if our present weights
and measures were lost, they could not possibly be recovered ; nor could
future ages have any notion of quantities expressed in terms derived from
our existing standards. Thirdly, the divisions of our scale, or rather of
our manifold scales, are arbitrary, capricious, perplexing, and in most cases
inconvenient, to a degree that foreigners, accustomed to a simple and




694

Weights and Measures.

elegant system, find it difficult to comprehend. This is the circumstance
which makes the study of commercial arithmetic so difficult and disgusting.
There are very few pupils who can learn arithmetic tolerably well in less
than three years ; in most cases in requires four to master it, even under
an able teacher and with the best existing text-books: whereas, if a
proper division of our money, weights, and measures were introduced, we
affirm, without hesitation, that all the knowledge in arithmetic could
easily be acquired in a twelve-month, and when so acquired could never
be forgotten. This may be illustrated by a specimen o f the sub-division
of some of the larger units of the scale, showing the multipliers which
are to be used in bringing them to a lower denomination, as it is called ;
of course, in bringing lower to higher denominations, the multipliers be­
come divisors in inverted order.
In reducing an English mile to its sub-divisions, the multipliers are 8,
40, V, 3, 12, and .3. In reducing a ton, the multipliers are 20, 4, 28, and
16 ; for another sort of a ton, the multipliers are 20, 4, 30, and 16; for
another sort of ton, 21, 4, 28. In reducing a yard, a carpenter uses as
multipliers, 3, 12, and 8 ; but a draper, 4 and 4. A grocer, in bringing
his pound to a lower denomination, uses as multipliers, 16 and 16 ; a
goldsmith reduces his pound by 20 and 2 4 ; and an apothecary his by 8
and 30. Moreover, these pounds, and the ounces of which they consist,
are of different weights; the goldsmith’s pound is lighter than the grocer's,
but his ounce is heavier; and not one person in ten thousand knows the
exact proportion between them. In the measure of surfaces, the statute
acre is successively reduced to its lower denominations by the multipliers
4, 40, 3 0 i j the perch by 301,
and 144. To take one out of many of
the ways of calculating capacity, we may select the authorized division of
the quarter of corn. It is to be reduced into its lower component parts
by multiplying by 8, 4, 2, 4, 2, and 4. And as to the divisions of the
bushel and the gallon, they are still more perplexing. It is not easy to
remember these things; but consider how difficult it is to work them out;
and consider that accounts and calculations involving accuracy in all
these details, and their comparison with one another, are required perhaps
a hundred times a day in 10,000 counting houses in the United Kingdom,
and you will understand the impediment thrown in the way of trade and
manufactures. There is not a house painter or a plasterer in a score
that can measure his own work, or can tell, without the help o f a
professional measurer, how much an employer, who has contracted with
him at so much by the square yard, is in his d ebt; in France, any child
who can perform simple multiplication can do it with ease. With us, it
is still more difficult for a stonemason, who is paid by what is called a
solid perch, (which, however, is not a solid perch at all,) to tell the amount
of his own earnings; but if we had the French system, the calculation
would be as easy as the former. Fourthly, while the units of length,
weight, and capacity are fixed by law, so many local customs prevail as
to the multiples and sub-multiples of the scale, that it is very difficult
from a price current list to ascertain the comparative value o f the same
commodities at various places in our own nation. Suppose, for example,
that a farmer has got a quantity o f wheat on hand which he is anxious
to dispose of to the best advantage, and he looks over the prices current
in all the newspapers he can find in the Commercial News-room. In one
town it is quoted at so much per cw t.; in another, at per barrel; in




Weights and Measures.

695

another, at per quarter; in another, at per load; in another, at per bag;
in another, at per weight; in another, at per b o ll; in another, at per
coom b; in another, at per hobbet; in another, at per winch ; in another,
at per windle ; in another, at per stike; in another, at per measure; in
another, at per stone ! Thus there are fourteen different denominations
to be compared with each other before the farmer can discover what is
the average value o f his wheat, or what is the most desirable market for
the sale or the purchase of it. But all this, though puzzling enough,
would be plain sailing, comparatively, if the same name signified the same
weight and quantity in all places, or even at the same place; but it does
not. It would be strange, indeed, if it did, in a system where everything
appears to be done that can be done to bewilder and mislead. A table
published by the International Association, showing the different weights
and measures in use in different localities in the United Kingdom, sites
as follows in relation to the manner o f selling wheat. A t Hertford it is
sold by the load, which is equal to 5 bushels; at Hitchin, by the load of
“ about 5 bushels;” at Bedford, by the load o f 3 bushels; at Dorkin, by
the load of 5 quarters; at Bishop’s Stortford, by the load of 40 bushels!
Thus there are five distinct nominal values given for the one denomina­
tion— the load— expressed as so many quarters or so many bushels.
What, then, is the amount o f a quarter ? W hy, in general, it is equal
to eight bushels by measure; but in London it is a weight o f 480 pounds.
In like manner the bushel is in many places not a measure but a weight;
and in different places it signifies different weights. The following is the
value in various towns and places in England:— 168 lbs., 131 lbs., 62 lbs.,
80 lbs., 7olbs., 72 lbs., 60 lbs., 70 lbs., 65 lbs., 63 lbs., 64 lbs., 5 quarters,
144 quarts, and 488 lbs.! In the highly enlightened and commercial
town of Manchester, a bushel of English wheat is 60 lbs., but a bushel of
American wheat is 70 lbs.! Here we have the bushel fluctuating from 5
quarters to the eighth part of a quarter, being a variation of 4,000 per
cent on the smaller quantity; and the quarter itself is an unsettled
quantity; where its value is given in pounds wreight, it varies from 60 lbs.
to 488 lbs. So a bag is, at Bridgenorth, 11 scores, whatever may be
meant by a score, (I suppose it means 20 lb s.;) in an adjoining town, the
bag is 11 scores and 41 lbs.; in another place it is 12 scores ; in another,
12 score 10 lb s.; in another, 2 bushels ; but which o f the many bushels
is intended, the return saith not. In like manner, a weight is 14 stone,
36 stone, 40 stone. It is useless so follow this line of illustration farther,
it may, however, be remarked, that similar variations exist in the system of
linen measure, of land measure, of the weights and measures of oats, of
barley, of butter, of potatoes, o f coals, of wool, and of flax, and in fact,
of almost every article that is in common use among us. Even in the
same town, the same name does not express the same quantity. In Bel­
fast, a stone of oats is 14 lbs.; a stone of flax is 1 6 f lbs. A stone else­
where means 8 lbs., 14 lbs., 16 lbs., 18 lbs., or 24 lbs., according to cir­
cumstances. If we mistake not, flax is sold in Downpatrick by the stone
of 24 lbs. Can any man tell without hesitation or circumlocution, what
is meant by an acre ? There are few who know the answer to that simple
question. It means seven different quantities o f land, varying from the
Cornish acre of 4,840 square yards to the Cheshire acre of 10,240, which
is nearly half as large again as the Irish plantation acre of 7,840 square
yards. In short, if a committee of the most skillful philosophers had set




696

Weights and Measures.

themselves to the task of devising a system of weights and measures that
should most effectually hinder or render as difficult as possible the transac­
tion of the common business of commercial and agricultural life, they
could scarcely have hit upon any that would have answered the purpose
more effectually than that which exists, and is clung to with persevering
tenacity in this agricultural, manufacturing, and commercial nation! I
believe it is by far the worst that is to be found in the whole world. And
this leads me to the fifth and last objection that I shall urge against our
present system— it is not and never can by possibility become interna­
tional ; that is to say, no other country ever has adopted it, or ever will
adopt it, unless its inhabitants be a race o f idiots, with whom it will be
difficult to carry on trade. By adhering to our present system, or want
of system— for there is really nothing systematic in it— we are isolating
ourselves from the general community of trading nations, and rendering
as inconvenient and difficult as possible that commercial intercourse, which
is one of the main sources of the greatness of the British Empire.
W e apprehend that no human being, at least no rational man, will main­
tain that the irregularities, inconsistencies, and absurdities, a part— but only
a part— of which have been detailed, should remain as they are. Com­
mon sense cries out against it. They must be put down, and will be. Even
the stupid and abortive attempts at a remedy which w'ere before Parlia­
ment last session, show' that a remedy is demanded by the public voice.
But how is it to be applied. Two courses are open to us. W e may
adopt what is regarded as the most generally accepted part of the existing
weights and measures, abolishing by law what are considered mere local
deviations or casual irregularities. Or we may discard all concern about
the existing system, and adopt by law' the best system that can be found
or invented.
Throwing aside, as incapable o f being made good, (though undoubtedly
it might be rendered less bad,) our present confused and inconvenient
system, let us consider what are the essential qualities of a good and
philosophical system to be introduced in its room. And it strikes me
that the following particulars embrace all that can be desired
1. It should have its basis in nature, and that basis should be of such a
kind as not to be limited to one nation or tribe of the human family, but
common to all mankind.
2. From the basis the other portions should be deduced by a simple
and intelligible process, so that all should have a mutual relation, con­
nection, and dependence ; and these portions should embrace measures of
length, of superficial area, o f solid capacity, and of weight.
3. In each of these departments the multiples and sub-multiples of
the primary unit should proceed decimally; that is, the larger divisions
should increase upwards by tens, and the smaller decrease downwards by
tenths. This would put an end to all such rules as compound addition,
compound substraction, multiplication, reduction, and fractions. Every
arithmetical calculation would be performed by the rules applicable to
whole numbers; and, in fact, one-half o f the processes w'hich now in­
volve long and troublesome computations would be solved by inspection
merely, without the use of pencil or pen.
4. Which, indeed, is implied in the three preceding conditions, it
should, if possible, be such that we may expect sooner or later the adop­
tion of the same system by all civilized nations.




Weights and Measures.

697

Now, a moment’s consideration will satisfy us that the first thing to be
determined is the unit of length, for from it the measures o f surfaces, of
capacity, and of weight, can easily be deduced. And according to the
first of the conditions above stated, we must lo o t for a unit that has its
basis in nature, and is not peculiar to m e locality, or to one tribe of man­
kind. Various standards of this sort have been suggested.
In the year
lfiTD, Locke suggested the third part of a pendulum vibrating seconds
as the unit of linear measure; but pendulums require to be made of dif­
ferent lengths to vibrate seconds at different points on the earth’s surface,
and it is a matter of great difficulty to determine the exact length of the
seconds’ pendulum either at the equator or any particular latitude. Al­
though this proposal has been before the world for nearly 200 years, no
one pendulum has ever yet been mentioned as beating time with such ac­
curacy that it would be right to adopt it as a standard o f length. A
similar objection applies to another suggestion, which is, that we should
employ, as the origin o f our linear system, the space through which a
heavy body falls, in vacuo, in a second of time. It is evident that this
suggestion involves all the difficulties connected with the pendulum, and
some others besides. It is difficult to procure a perfect vacuum ; it is not
easy to determine the space described by the falling body by observation
merely; the space is known approximately by calculations founded on
the length of the pendulum itself; and here, still more than in the case
of the pendulum, the varying force o f gravity at different latitudes would
give units of varying length at different points. The only proposal that
remains for discussion, and which it is needful to consider, is that for
taking as the unit o f linear measure some definite portion of the dimen­
sions of the earth itself. It is confessedly difficult to make any exact
measurement of the earth itself, or o f any required portion of its surface,
but the thing can be done with a very close approximation to correctness;
and when this has been accomplished with as great accuracy as can be
attained, the sub-division of any one of the great magnitudes thus reached
will give a unit of length as accurate as can reasonably be desired. Most
persons are aware that there is no such thing as a perfectly exact meas­
urement of any one object in the universe. All that we can do is to re­
duce the amount of error within the narrowest possible limits, and this
is most easily effected by the sub-division of the dimensions of a very
large body, which has itself been measured with the utmost possible cor­
rectness. Now, the earth itself is the largest body that we can touch;
the magnitudes and distances o f the heavenly bodies, though in many
cases much larger than the earth, are determined primarily from the di­
mensions of our planet. Accordingly it has been proposed to deduce our
standard o f length either from the dimensions of the earth’s polar diam­
eter or from the extent o f its surface, measured or computed, from pole
to pole, in a direct line. The latter is assuredly preferable, because from
it the diameter of the earth is calculated, and in such cases it is better to
employ the original than the derivative magnitude. The French govern­
ment deserve the credit of having first put this suggestion into practice.
An arc of the meridian, extending from Dunkirk, in France, to the sea­
shore, near Caledonia, in Spain, was measured, with the utmost care, by
Messieurs Mechain and Delambre; and from this, combined with the
measurements of Maupertuis and Condamine, previously extended with a
view to determine the shape of the earth, (its spericity, as it is called,)




698

Weights and Measures.

was deduced the length o f an arc extending from the north pole to the
equator. The To"o"o,ooo"oth Part ° f this arc was denominated the metre ;
a bar of platinum was constructed representing this length as accurately
as possible, and this bar— or others directly or indirectly copied from it
— is the standard unit of length throughout France, and in many other
countries which have herein followed her example. It is equal to 3 9 /T
inches of our English measure, and is about one-quarter inch longer than a
pendulum vibrating seconds at the level of the sea in London. The
metre is divided decimally downwards into decimetres, centimetres, and
millimetres; and multiplied decimally upwards into decametres, hecto­
metres, kilometres, and myriametres— the latter being, as is implied by
its name, equal to 10,000 metres of the scale. The metre and its sub-divisions can easily be adapted to the purposes of drapers, carpenters, ar­
chitects, &c.
A square formed upon a line of ten metres in length, is the unit o f
superficial or land measure ; and a cubic which has a decimetre (or T’ „ th
of a metre) for its measuring line, is called a litre— the unit o f capacity.
Each of these is increased or diminished by multiples or sub-multiples
of ten, but, for the convenience of those who prefer halves and quarters
to tenths, each may be, and often is, divided in this manner, though all
arithmetical calculations are performed decimally. For the unit of weight
a kilogramme is used, which is the weight of a litre of distilled water at
its greatest density, which is a little above the freezing point. A kilo­
gramme is rather more than two pounds English of avoirdupois weight.
It needs not to specify the names o f all the divisions and sub-divisions,
because the nomenclature is a mere adjunct of the system, and a
very unhappy one.
The introduction of these hard foreign names
must have thrown many impediments in the ivay o f the reception of the
metrical system in the rural districts, and even in the towns of France.
The metrical system has been, since 1840, the sole standard employed
in France. It is also established in Belgium, in Holland, in Sardinia, in
Lombardy, in Greece, and in Spain; in Portugal it is to come into opera­
tion in 1862, and it is partially sanctioned by law in Switzerland, Baden,
and Hesse-Darmstadt. In South America it has advanced with rapid
strides. Chili, Colombia, New Granada, Equador, and Brazil, have al­
ready adopted it by law. Including the colonies of France and Spain, it
is now sanctioned in almost every Christian State or nation (except the
United States of America) with which Great Britain has any considera­
ble foreign trade ; and if Great Britain were for once to pursue her own
interest, and the interest o f mankind conjoined, there can be no doubt
that the nations which still hesitate would speedily follow her example;
so that this elegant and harmonious system would form a new link in the
great chain which holds together all the tribes of civilized men on the
face of the earth, facilitating their intercourse, and knitting them to­
gether by means of their mutual wants and reciprocal benefits.




Facts regarding Gold.

699

Art. V.— PACTS REGARDING GOLD.
LOCALITY OP GOLD MINES— COLOR OP GOLD— FIRST MENTION OF— RELATIVE VALUE TO SILVER, B. C.—
CHANGE IN EELATIVE VALUE — BIBLE MENTION — METALS IN EARLY GREECE— COINS — DARIO—
MINES OP TnRACE— GOLD AT ROME— VALUE OF A CUBIC INCH— GOLD NOW IN THE WORLD— RUS­
SIAN MINES — AMERICAN — AUSTRALIAN — ANNUAL PRODUCT — QUANTITY OF GOLD AT VARIOUS
PERIODS— COINAGE OF UNITED STATES, FRANCE, GREAT BRITAIN, AND RUSSIA— WEAR AND TEAR—
GOLD COINS FIRST ISSUED IN ENGLAND— UNITED STATES COMMISSION.

G old , next to iron, is the most widely diffused metal upon the surface
of our globe. It occurs in granite, the oldest rock known to us, and in
all the rocks derived from i t ; it is also found in the vein stones which
traverse other geological formations, hut has never been found in any
secondary formation. It is, however, much more common in the alluvial
grounds than among the primitive and pyrogenous rocks. It is found
disseminated under the form o f spangles in the silicious, argillaceous, and
ferruginous sands of certain plains and rivers, especially in their junction,
at the season of low water, and after storms and temporary floods. It is
the oniy metal of a yellow co lo r; is readily crystalizable, and always as­
sumes one or other of the symmetrical shapes, such as the cube, or regular
octahedron. It affords a resplendent polish, and may be exposed to the
atmosphere for any length of time without suffering change; it is re­
markable for its beauty ; is nineteen times heavier than water, and, next to
platinum, the heaviest known substance ; its malleability is such, that an
ounce will cover two hundred square feet; its ductility is such, that a
lump of the value of four hundred dollars could be drawn into a wire
which would extend around the globe. It is first mentioned in Gen. ii.,
7. It was found in the country of Havilah, where the rivers Euphrates
and Tigris unite and discharge their waters into the Persian Gulf. The
whole quantity of gold which has been extracted from the surface and
bowels of the earth, from the earliest times to the present day, is estimated
to be nine thousand millions o f dollars.
The relative value of gold to silver, in the days o f the patriarch Abraham,
was one to eight; at the period o f B. C. 1000, it was one to twelve;
B. C. 500, it was one to thirteen ; at the commencement of the Christian
Era, it was one to nine; A. D. 500, it was one to eighteen ; A . D. 1100,
it was one to eight; A . D. 1400, it was one to eleven; A. D. 1613, it
was one to thirteen ; A . D. 1700, it was one to fifteen-and-a-half; which
latter ratio, with but slight variation, it has maintained to the present day.
Gold was considered bullion in Palestine for a long period after silver
had been current as money. The first mention o f gold money in the
Bible is in David’s reign, (B. C. 1056,) when that king is said to have
bought the threshing floor o f Oman for six hundred shekels of gold by
weight. In the early period of Grecian history the quantity of the precious
metals increased but slowly ; the circulating medium did not increase in
proportion with the quantity of bullion. In the days o f early Greece,
the precious metals existed in great abundance in the Levant. Cabul and
Little Thibet (B. C. 500) were abundant in gold. It seems to be a well
ascertained fact that it was obtained near the surface; so that countries
which formerly yielded the metal in great abundance are now entirely
destitute of it. Croesus (B. C. 560) coined the golden stater, which con­
tained one hundred and thirty-three grains of pure metal. Darius, son




700

Facts regarding Gold.

o f Hystaspes, (B. C. 538,) coined darics, containing one hundred and
twenty-four grains of pure gold, which were preferred, for several ages,
throughout the East for their fineness. Next to the darics, were some of
the reigns of the tyrants of Sicily ; of Gelo, (B. C. 491,) of Hiero, (B. C.
478,) and of Dionysius, (B. C. 4 0 4 ;) specimens of the two former are
still preserved in modern cabinets. Darics are supposed to be mentioned
in the latter boohs of the Old Testament under the name of drams. Very
few specimens of the daric have come down to u s; their scarcity may be
accounted for by the fact that, after the conquest of Persia, they were
melted down, under the type of Alexander. Gold coin was by no means
plenty in Greece, until Philip o f Macedon had put the mines of Thrace
in full operation, about B. C. 360. Gold was also obtained by the Greeks
from Asia Minor, the adjacent islands, which possessed it in abundance,
and from India, Arabia, Armenia, Colchis, and Troas. It was found
mixed with the sands o f the Pactolus and other rivers. There are only
about a dozen Greek gold coins in existence, three o f which are in the
British Museum, and o f the latter two are staters of the weight of one
hundred and twenty-nine grains each. About B. C. 207, gold coins were
first struck off at Rome, and was denominated aurei, four specimens of
which are in the institution before alluded to. Their weight was one
hundred and twenty-one grains.
A cubic inch of gold is worth (at £3 17s. 10id. or $18 69 per ounce)
one hundred and forty-six dollars; a cubic foot, twro hundred and fiftytwo thousand two hundred and eighty-eight dollars; a cubic yard, six
millions eight hundred and eleven thousand seven hundred and seventysix dollars. The quantity of gold now in existence in the world is es­
timated to be three thousand millions of dollars, which, welded into one
mass, could be contained in a cube of eleven feet.
The Russian gold mines extend over one-third o f the circumference of
the globe, upon the parallel of 55° of north latitude. Those of North
America extend from 34° to 42° of north latitude, upon the Pacific coast.
Those of Australia extend from 34° to 37° o f south latitude. The Rus­
sian mines were discovered in 1809, the Californian in April, 1848, and
the Australian in February, 185]. The finest gold is obtained at Ballarat,
and the largest nugget in the world weighs twenty-two hundred and
seventeen ounces, and is valued at forty-one thousand dollars. In shape,
it resembles a continent with a peninsula attached by a narrow isthmus.
The annual product of gold at various periods has been estimated as
follow s:—
A. D.

1 4 . . . . ...................
500...........................
1000...........................
1492...........................
1600...........................
1700...........................

1800,000 A. D. 1800 ...............
200,000
1848................
80,000
1848................
100,000
1851................ . . .
2,500,000
1858................
6,000,000

$15,000,000
139,000,000

The am ount o f g o ld in existence at various periods is estim ated to be
as follow s ;—
A. D.

14......................
500.......................
1000.......................
1492.......................
1600.......................
1700......................

$427,000,000 A. D. 1800...............
100,000,000
1843...............
40,000,000
1848...............
57,000,000
1851...............
200,000,000
1858 .............
400,000,000

$1,100,000,000
1,750,000,000
1,824,000,000
2,200,000,000

O f th e latter am ount tw enty-five h un dred m illions is estim ated to be




Facts regarding Gold.

701

in gold coin and bullion, and the remainder in watches, jewelry, plate,
etc., etc. The product of the California mines since their discovery has
amounted to seven hundred and forty-one millions o f dollars, and o f the
Australia to six hundred and forty-three millions.*
Since 1792, the gold coinage of the United States mint has amounted
to five hundred and fifty millions of dollars, o f which four hundred and
sixty-four millions have been issued since 1850. The gold coinage of the
French mint, since 1720, has amounted to sixty-one hundred and fortythree millions of francs, of which thirty-one hundred and thirty-two
millions have been issued since 1850. The gold coinage o f the British
mint, since 1603, has amounted to two hundred and fifty-one millions of
pounds sterling, of which sixty-one millions have been issued since 1850.
The gold coinage of the Russian mint, since 1664, has amounted to four
hundred and fifty-three millions o f roubles, of which one hundred and
eighty millions have been issued since 1850.
By experiments made at
the United States mint, it has been ascertained that the wear and tear
of half-eagles is a tenth o f one per cent per annum. Eagles exhibit less,
whilst quarter-eagles and dollar pieces exhibit more.
Gold coins were first issued in England in A. D. 1257, in the shape of
a penny. Florins were next coined in 1344, of the value of six shillings.
The guinea was first issued in 1663, o f Guinea gold. In 1733, all the
gold coins, angels, testoofs, units, jacobuses, Caroluses, etc., etc., were
called in and forbidden to circulate. The present sovereign was first issued
in 1817.
The following will exhibit the contents, in pure gold, o f the gold coins
of different countries of the world :—
Sovereign, of England . . . .grains
New doubloon, of Spain...............
Half-eagle, of United States........
Gold lion, of Netherlands.............
Double ounce, of S icily ...............

112
115
116
Ill
117

106
Ducat, of Austria...............grains
Twenty-franc piece, o f France . .
90
Half-imperial, of Russia...................
91
152
Moidore, of B ra zil.......................
Mohur, of India..................................
188

A commissioner has been dispatched by the United States government
to England, France, and other countries of Europe, to confer with these
respective governments upon the expediency o f adopting a uniform system
of coinage throughout the world, so that the coins of one country may
circulate in any other, without the expense of recoinage ; a consumma­
tion most devoutly to be wished.
The fact that the large amount o f gold which has been thrown into
the monetary circulation o f the world, within the last decade, has ex­
ercised so little influence upon the money market or prices generally, is
at variance with the predictions of financial writers upon both sides of
the Atlantic. The increase in the present production o f gold, compared
with former periods, is enormous; and it would not be surprising, if, in
view of the explorations which are going on in Africa, South America,
and countries bordering upon the equator, within the next decade, the
product should be a million of dollars daily. The price o f gold has not
diminished, although the supply has increased seven-fold within fifteen
years.
* This seems to be a vague estimate of total production. The actual exports from both Aus­
tralia and California since the discoveries were to the close of 1S57—from California, $453,655,280,
and from Australia, $320,093,742, or together, $773,749,022; adding $100,000,000 for 1858, gives
$610,250,978 less than the estimate o f production in those two countries. It is, o f course, entirely
erroneous.— \Ed. M. M.




Journal o f Mercantile Law.

702

JOURNAL OF MERCANTILE LAAV
STOCK DEALING.

The following is the last opinion Judge Duer wrote. It is of great import­
ance to the business community and the legal profession. It was delivered in
the early part of July last:—
Francis H. Salters, respondent, vs. Sidney E. Genin, Alfred H. Lockwood,
and Le Grand Lockwood, appellants.
D c e k , C. J .—By the Court.—This case comes before us upon an appeal from
a judgment at Special Term in favor of the plaintiff for §1,756, with interest
and cost.
The case was tried by the judge who heard it without a jury, but it does not
appear that it was so tried by the consent of the parties.
In order that the conclusions to which we have come may be properly under­
stood, it will be necessary to give a brief statement of the pleadings, and of those
portions of the findings and decisions of the judge, and of the evidence upon the
trial, that have a bearing upon the questions upon which alone onr decision will
turn.
The complaint alleges that upon the 11th day of January, 1856, the plaintiff
gave to defendants, who are partners and stock-brokers, an order to purchase for
him two hundred shares of the capital stock of the Accessory Transit Company,
and at the same time deposited with them, as a security for his own performance
of the contract, thirty-five shares of the stock of the Sixth-avenue Railroad
Company, with a power of attorney to transfer the same; that shortly thereafter
the defendants delivered to the plaintiff two memoranda, showing that they had
purchased on his account from different persons two hundred shares of the stock
of the Nicaragua Accessory Transit Company, the stock to which his order re­
lated, at twenty-five per cent, but that no such shares were transferred or deliv­
ered to the plaintiff; that subsequently the defendants gave him notice that they
should sell the said stock, and thereafter delivered to him a memorandum, dated
7th day of April, 1856, showing that they had sold the same, at the price of
thirteen-and-three-quarters per cent, but that he (the plaintiff) never transferred
or delivered the shares to any person ; that on the 11th day of April, 1856, the
defendants rendered to the plaintiff an account, of which a copy was annexed,
but that no money had been paid to him, nor had the Sixth-avenue Railroad
stock ever been delivered to him. In the account so rendered by the defendants,
the plaintiff was charged with §5,000, as the price of the Nicaragua stock, with
§87 50 as interest thereon, and §50 for commission, and §150 as a commission
for negotiating a loan, the sums total beiDg §5,287 50 ; and he was credited with
§2,725 as the proceeds of the sale and commission of the Nicaragua Transit
Company, and with §2,957 50 as proceeds of the sale of the Sixth-avenue Rail­
road Company; the aggregate being §5,632 50, thus leaving and stating §395
as a balance due to the plaintiff.
The complaint then averred that the purchases and sales of the Nicaragua
stock in the account rendered were not real but fictitious, and that the commis­
sion thereon charged for negotiating a loan was also fictitious, and it closed with
a demand of judgment by the plaintiff that the defendants should return and
transfer to him the thirty-five shares of stock of the Sixth-avenue Railroad Com­
pany, and should pay to him any balance that might be found due to him upon
the transactions between them.
The answer of the defendants, Genin and A. Lockwood, admitted that the or­
der for the purchase of the shares of the Accessory Transit Company, as given
to the firm of Genin & Lockwood, and the deposit with them of thirty-five shares,
as a security, of the Sixth-avenue Railroad Company, and averred that, by an




Journal o f Mercantile Law.

703

agreement between the plaintiff and them, the Nicaragua shares were purchased
and held by the firm in their own name. It averred that the purchase was in
fact made, and the shares purchased so held by them, and that the subsequent
sales, both of the Nicaragua and of the Sixth-avenue Railroad Company shares,
were authorized and ordered by the plaintiff to be made on his account, and that
the account rendered to him was in all respects correct. The defendant, Le
Grand Lockwood, answered separately, and denied all the allegations in the com­
plaint.
What are the issues, and, in our judgment, the only issues, raised by these
pleadings, we shall hereafter state.
It was clearly proved upon the trial that the two hundred shares of Nicaragua
stock were purchased by the defendants at the time, and for the price mentioned
in the account which they rendered, and that they advanced the funds for that
purpose. That they caused the stock, by which, it seems, is meant that they
provided funds or credit for its payment for the period of ninety days from the
date of the purchase, and that by so doing the credit which it was originally
agreed should be allowed to the plaintiff, as the purchaser, was extended sixty
days; that at the end of the ninety days they sold the stock for the price men­
tioned in the account, and that the plaintiff had full notice of the sale and its
result; and that, with this knowledge, he himself ordered the sale of the thirtyfive shares of the Sixth-avenue Railroad stock, at the price that was obtained
for i t ; and, finally, that after the account of the defendants had been rendered
to him, and with the account in his hands, he, in express words, admitted that
the charges which it contained were correct, with the single exception of the
charge of- $150 as a commission for negotiating a loan.
All the facts above stated are substantially found by the judge, but he finds
these facts in addition :—That on the 13th day of March, 1856, the defendants
had no stock standing to their credit on the books of the Nicaragua Transit
Company, but on that day, and at all times from the 9th day of January to the
11th day of April, when the sale was made, they had an account of stock equal
to two hundred shares deposited with other parties, from whom they had bor­
rowed money upon the security of the stock, and redeemable upon the payment
of such loans, and that upon the 13th day of March the average price of the
stock was 20J per cent.
The learned judge states the law applicable to these facts to be, that the de­
fendants were bound to have kept in their name upon the books of the company,
or to have within their power, or in their possession, during the period of the
agreement, the amount of two hundred shares, and that the mere right to recall
stock deposited as security for moneys borrowed was not such a possession or
control as the law requires. The judge also formed as conclusions of law. that
the charge made by the defendants of three-eighths of one per cent for carrying
the stock for the two periods of thirty days, after the expiration of the first, was,
justified by a usage of brokers, binding on the plaintiff; and that the plaintiff
was not bound by his admission that the account of the defendants was correct,
except as to the charge of $150, there being no evidence that he knew at the
time of the stock having been parted with. The judgment which the learned
judge finally rendered, and from which this appeal is taken, is that the plaintiff
do recover of the defendants the sum of $1,832 63, being the amount of $1,755,
with interest from the 13th day of March, 1856, together with their costs to be
adjusted.
The sum of $1,755 is the difference between the market value of the two hun­
dred shares on the 13th day of March and the sum for which, as the proceeds of
their sale, the plaintiff was credited in the account rendered to him by the de­
fendants on the 11th day of April. The judgment, therefore, manifestly pro­
ceeds upon the ground that on the 13tn day of March the stock belonged to the
plaintiff, and that the defendants, by parting with its possession on that day, un­
lawfully converted the same to their own use, and rendered themselves liable to
him as owner.
The counsel for the defendants filed sixteen exceptions to the decisions of the




704

Journal o f Mercantile Law.

judges, but there are only two of these that we shall notice, as they distinctly
raise the only question that we propose to consider and determine.
The first of these exceptions is to so much of the decision of the court as de­
clares that the plaintiff was not bound by his admission that the account was
correct, except as to the §150 ; and the second is to the whole decision, upon
the ground that no action could be maintained upon the pleading for the conver­
sion by the defendants of the Nicaragua stock to their own use ; and the ques­
tions that arise upon those exceptions, in the order in which we shall consider
them, are—
1st. Whether, considering the nature of the action and of the relief sought,
it was within the power, and, indeed, the jurisdiction, of the court to order the
judgment appealed from ; and
2d. Whether it does not appear from the evidence that all the proceedings of
the defendants in reference to the sale, both of the Nicaragua and of the railroad
stock, were so fully known and sanctioned by the plaintiff as to preclude him
from disputing their legality : and, if either of these questions must be deter­
mined in favor of the defendants, it is plain that the judgment appealed from
must be reversed, and a new trial be ordered. The only cause of action alleged
in the complaint is that the purchase and sale of the Nicaragua stock, as stated
in the account of the defendants, were pretended and fictitious, and the relief de­
manded is exactly that to which, upon proof of these allegations, the plaintiff
would be entitled ; namely, the return and transfer to him of the thirty-five rail­
road shares which he had deposited with the defendants as a collateral security.
The cause of action for which the judgment was rendered is that the plaintiff'
was the lawful owner of the Nicaragua shares which he had ordered to be pur­
chased, and that the defendants unlawfully converted the same to their own use.
It is impossible to say that the difference between these causes of action can be
regarded as an immaterial variance, which the court was at liberty to disregard,
or even as a variance which, under any possible construction of the provisions
of the code, might be cured by an amendment. It is evident that the cause of
action for which the plaintiff was permitted to recover, not only differed in its
entire scope and meaning from that stated in the complaint, (code, sec. 171,) but
which directly contradicted all the allegations in the complaint upon which the
demand for relief was founded. The complaint avers that the Nicaragua shares
ordered by the plaintiff never were purchased by the defendants. The judge de­
cided, and his judgment necessarily implies, that the purchase was made by them
in conformity to his order. The complaint denies that any moneys were advanced
by the defendants on the plaintiff’s account. The judge decided, and his judg­
ment implies, that they advanced the whole sum which they charged as the pur­
chase money of the stock. The complaint denies that any loans were negotiated
by the defendants for the plaintiff. The judge decided that such loans were ne­
gotiated, and this also his judgment implies, since otherwise the §150, which he
allowed to the defendants for negotiating such loans, would have been added to
the sum for which judgment was rendered. The manifest result is that the plain­
tiff was adjudged to be entitled to a sum of money that he never claimed, and
to be so entitled upon grounds that in his complaint he denied to be true, and
upon the trial attempted to disprove. The only issues made by the pleadings
were, whether the purchase and sale of the Nicaragua stock were real or ficti­
tious, and whether the sale of the railroad shares were made without authority.
These were the only issues that the judge could rightfully try and determine. He
determined them both in favor of the defendants, and yet rendered a judgment
for the plaintiff. We are compelled to think, and it is our duty to say, that the
proceeding was anomalous and without precedent or warrant; that there is no
rule of the common law, and no provision of the code, by which it could be
justified, and that the judgment so rendered is, on the very face of the record,
erroneous and void.
If it be said that when an answer is interposed the court, under section 275
of the code, may grant to the plaintiff a relief different from that demanded by
his complaint, the section itself gives the reply by declaring that the relief so




Journal o f Mercantile Jaw .

705

granted must be “ consistent with the case as made by the complaint and em­
braced within the issue.” As the facts upon which the court below founded its
decision were proved upon the trial, it has been alleged that the court, by virtue
of the powers given by section 173 of the code, might order the pleadings, both
complaint and answer, to be so amended as to conform them to the facts as
proved. Whether, sitting as an Appellate Court, we have any power to direct
such an amendment, is a question it is unnecessary to discuss, since it so happens
that the words of the section again furnish a conclusive reply to the argument.
They furnish that reply by limiting the exercise of the discretionary power of
the court to cases in which the amendment does not change substantially the
claim or defence. The change that would here be made by such amendment of
the pleadings as would be requisite to sustain the judgment would not merely be
substantial but absolute and entire.
We are not aware that there are any other provisions in the code that may
possibly be thought to have a bearing upon the question we are consideriug. If
there are any, we have been unable to discover them.
Again, even upon the supposition that the facts proved upon the trial entitled
the plaintiff to a recovery of the sum for which the judgment was rendered, and
that such a recovery might be had even under the pleadings as they stand, still,
when it was rendered certain by the proofs that this was the only relief to which
the plaintiff could be entitled, it seems to us very doubtful whether that the ju­
risdiction of a judge sitting without a jury, in a case in which a trial by jury
had not been waived in the mode provided by the code, did not cease, so that his
power to render a judgment, unless by the express consent of the parties, was at
an end. The suit in its nature, and from the lrame of the complaiut, was plainly
an equity suit, and as such as properly triable by the court alone, and such was
evidently the understanding of the counsel and the court; but the decision of
the judge turned this equity suit into an action at law for the recovery of money
only, which, unless by the consent of the parties, could only be tried by a jury.
His decision turned it into an action to recover damages for the wrongful con­
version of personal property ; and unless such an action may be tried by a judge
at Special Term, in the mere exercise of his own will, without a jury, the objec­
tion to the present judgment, as showing upon the face of the record an excess of
jurisdiction, seems unanswerable— (code, sec. 253, 254, 266.)
It is not, however, on this view of the case that we mean to place our decision,
since we wholly reject the supposition that, even had a trial by jury been ex­
pressly waived, the judgment appealed from could have been rendered under the
pleadings, and in total disregard of the issues which the pleadings raise. It is
upon this ground that we hold that the judgment must be reversed, and a new
trial be granted with costs.
Placing our decision upon this ground, it is unnecessary to discuss at large
the second question ; namely, whether the proceedings of the defendants in rela­
tion to the stocks were not so fully sanctioned by the plaintiff as to preclude him
from disputing their legality. Without dwelling upon all the reasons that have
satisfied our minds that the defendants acted throughout by his express or im­
plied authority, we shall content ourselves with showing that the learned judge
certainly erred in holding that the plaintiff was not bound by his admission that
the account of the defendants was correct, except as to the charge of $150.
The reason which the learned judge assigns for this opinion is, that there was no
evidence establishing that he knew at the time, which can only mean at the time
he made the admission of the stock having been parted with, a reason which ne­
cessarily implies that had the knowledge of the plaintiff that the defendants had
parted with the possession of the Nicaragua shares before the sale of the 8th of
April been proved to the satisfaction of the judge, he would have held that the
plaintiff was bound by the sale, and the defendants entitled to judgment. Yet,
unless we are to reject entirely the testimony of the only witness examined upon
this subject, and who was unimpeackcd and uucontradicted, nothing is more cer­
tain than that the fact that the defendants, before the sale, had parted with the
possession of the stock was known to the plaintiff when he made the admissions
VOL. xxxix.— m o . v i .
45




706

Journal o f Mercantile Law.

that were proved. He knew that the defendants had borrowed money upon the
pledge of the stock, and subsequently had parted with its possession. The ad­
missions of the plaintiff, as proved by the witness, were that there was no other
error in the account rendered than the charge of $150, which he refused to ad­
mit, and that in every other respect the account was right; and the witness
swore that he had before informed the plaintiff, in reply to his question what the
charge of $150 was for, that it was made for negotiating loans upon the stock.
The witness further stated that on the next day the defendant, A . Lockwood, in
reply to the same question what the charge of $150 was for, told the plaintiff
that it was a commission at the rate of three eighths of one per cent for nego­
tiating loans for the extra sixty days that the stock was carried beyond the first
agreement; that it was for borrowing- money upon the stock for the extra time,
and that this was a commission which the plaintiff, when the credit was extended,
had agreed to allow. The plaintiff positively denied that he had agreed to allow
the commission that was claimed ; but he did not deny that he knew that loans
upon the stock were made, and that when the period of credit was extended, it
was understood they would be made; nor did he call in question the right of the
defendants to part with the possession of the stock for the purpose of procuring
them. We, therefore, think that the proof was conclusive to show, nor do we at
all doubt that such was the fact, that the plaintiff, when he so fully and distinctly
admitted that the charges in the account of the defendants, with a single excep­
tion, were correct, possessed the very knowledge that the learned judge was of
opinion, if proved, would have been fatal to his recovery. We think it was
proved, and agree in the opinion that it was in law a bar to his recovery. As
the plaintiff has not appealed from any part of the decision of the judge, it is
unnecessary to consider the question whether the commission of $150, charged
by the defendants, converted the advance they had made for the purchase of the
stock into a usurious loan. But we argue in the opinion of the learned judge,
that even if the charge was improper, it would not have the effect of tainting
with usury the original transaction— the agreement for the purchase of the Niea ragua stock. Whether the charge was properly made, or was sufficiently sus­
tained by evidence upon the trial, are questions upon which we decline to express
an opinion, as they may evidently arise in a new action, properly brought by the
plaintiff for the recovery of the balance due to him upon the account of the de­
fendants as rendered. They are not questions that, in our judgment, can prop­
erly be decided in the present action.
The judgment appealed from must be reversed, and there must be a new trial,
with costs to abide the event.
FREIGHT ON DAMAGED CARGO.

United States Circuit Court.

Lorenzo N. Ireguist vs. George B. Morewood,

el al.

N e l s o n , C . J.—The libel in this case was filed to recover freight, amounting
to the sum of $9,160 56, upon a cargo of coffee and spices shipped from Padang
on the Island of Sumatra, and Batavia on the Island of Java, in the fall of 1853,
in the brig Gothland.
The respondents set up damages sustained by the cargo on the voyage by way
of abatement of the freight in consequence of bad stowage, neglect of proper
ventilation of cargo, etc. The vessel arrived at this port in March, 1854, after
a voyage of ninety-eight days.
The court below decreed the whole of the freight for the libelant, with in­
terest on the same, holding that the ship was not chargeable with the damage to
the cargo.
Considerable additional evidence has been taken in this court since the appeal
on behalf of the respondents, tending to prove negligence on the part of the
master and crew in protecting the cargo in the course of the voyage, and also
negligence in the stowage or filling the ship.
It is agreed by all parties that the damage to the coffee and spices arose from




Journal o f Mercantile Law.

707

the dampness and sweat of the hold of the vessel, and the material question in
the case, and the one principally discussed by the counsel on the argument, is
whether or not the damage could have been prevented by proper care, diligence,
and skill of the master and hands, or was occasioned by their neglect. In the
case of Clark, et al.. vs. Barnwell, et al., (12 How., 272, 282. 283,) the court held
that damage to goods occasioned by the effect of humidity and dampness in the
hold, in the absence of any fault in the ship, or in the navigation of her, or in
the stowage, was a damage from one of the dangers and accidents of the seas
for which the carrier is not liable. The exception in the bill of lading in the
case before us is as broad as in the case of the 12 Howard.
The question, then, is one of fact, and must be determined upon the weight of
the evidence. We have examined it with a good deal of care, both that which
was taken in the court below and in this court, and have arrived at the con­
clusion that the cargo wTas well stored and the ship properly filled ; that the usual
and proper care was taken by the master in the progress of the voyage, at all
times when the weather would permit, to ventilate the cargo by opening the
hatches ; and that the damaee was the effect of dampness and sweat in the hold
of the vessel, incident to a passage from a warm to a cold climate, and especially
of stormy or tempestuous weather in the latter, without the fault of the master
in the navigation. Decree affirmed.
RECOVERY OF DOTIES ON SEIZED GOODS.

United States Circuit Court.

Edmund Jungbluth vs. Heman J. RedGeld.

C. J.—This is an action by the plaintiff against tie Collector, to re­
cover back the additional duty or penalty of 50 per cent, imposed under section
17 of the act of 1842, upon a case as follows:—-After the goods were entered,
the Collector seized them for a violation of the revenue laws.
The claimant released the goods from the seizure, by giving a bond under sec­
tion 89 of the act of 1799, which requires that the duties shall be first paid, and
a certificate of the Collector of the Port produced to the court before whom
the bond is entered into. On the appraisal of the goods, with a view to the
payment of the duties, the 50 per cent penalty was imposed under an act of 1842,
for undervaluation, and which, with the duties, was paid under protest.
Subsequently the parties, having become satisfied that the goods were subject
to a technical forfeiture for an infraction of the revenue laws, petitioned the
Secretary of the Treasury for a remission of the same, under the first section of
the act of 1797, which was granted, and the forfeiture remitted upon condition
“ of the payment of the duties, and any additional duties, on the merchandise in
question, if they have not already been paid, and of all the costs.”
It is insisted on the part of the counsel for the plaintiffs that the power of the
Secretary under this act to remit can only be exercised by granting the remission
of the forfeiture absolutely, and cannot be conditionally, except as to the costs
of prosecution ; and hence that the condition of payment of the illegal duties or
penalties is void.
We differ with the learned counsel in the construction to be given to this sec­
tion. The power, no doubt, is absolute—that is, the Secretary may remit at dis­
cretion the whole of the forfeiture—but this power carries with it au authority
to remit any part les3 than the whole, or upon a condition consistent with law.
Omne majus contienet in se minus.
We are also inclined to think that the act, in express terms, confers the power
claimed by the Secretary. The power given is “ to mitigate or remit” the for­
feiture, or any part thereof, and to direct the prosecution, if any, to be discon­
tinued, “ upon such terms or conditions as he may deem reasonable and just.”
Besides, in this case, the whole subject was submitted to the judgment of the
Secretary, and passed upon by him, and if the parties were dissatisfied with the
decision they should have refused to accept the remission on the terms granted.
Instead of this, they have taken up their bond, and paid the costs of the prose­
cution, and are enjoying the benefit of their remission of the forfeiture.
Judgment for the defendant on the case made.
N elson ,




708

Commercial Chronicle and Review.

COMMERCIAL CHRONICLE AND REVIEW.
BUSINESS OF THE MONTH— IMPORTS OF GOODS— REDUCTION OF STOCKS— MANUFACTURES— RAW MATE­
RIALS— DULLNESS OF CONSTRUCTION— EECEIPTS AND PAYMENTS— SPECIE IN BANKS— SPECIE MOVE­
MENT-EXPORTS OF BOSTON AND NEW YORK— DESTINATION OF SPECIE— ASSAY-OFFICE —GOLD SENT
SOUTH— RATES OF BILLS — REMITTANCES— INTEREST ABROAD— SPECIE AND INTEREST— BANKS OF
PARIS AND LONDON — PURCHASES OF GOLD BY BANK OF FEANCE— COST OF GOLD— DIVIDENDS—
RESUMPTION IN AUSTRIA— GOOD POSITION OF CROPS— STATE OF IMPORTS— DECLINE OF REVENUES—
GOVERNMENT LOAN.

T he month has passed without material change in the general aspects of com­
mercial or financial affairs. The fall business has closed upon the whole satis­
factorily, although far from exhibiting that activity which many sanguine dealers
had looked forward to as the result of recovery from the stagnation of the pre­
vious season. The imports of goods, as will be seen by the usual tables annexed,
have been to a fair extent, but have not equaled the sales, since a larger quan­
tity has been put upon the market than has arrived. The disposition has been still
to reduce stocks of commodities, and contract obligations, rather than to extend
them. It has been the case, however, that the manufacturers of almost all descrip­
tions of goods have had more to do. The cotton and wool spinners have all
bought more largely of materials. The cotton spinners last year, September 1st
to November 14th, took but 2,1 G9 bales of cotton ; this year they have taken
91,400 bales. The wool manufacturers are also well in stock. The boot and
shoe dealers have improved their operations to a great extent, and the hardware
manufacturers have more orders than for many months previously. In building,
either dwellings, stores, ships, or roads, there is not much doing, and the demand
for money from the manufacturers, increasing though it is, does not absorb the
amount of moneyreturning to first hands. The last few years have been of large
sales on long credits. The two last seasons have been of small sales on terms as
near cash as possible. Hence, little money has gone out, while large payments
from former sales mature and are paid with more or less promptness. It follows
that money accumulates. The low prices of farm produce abroad have for the
moment checked exports, and far less than the usual amount of money is wanted
to move other crops, but the cotton movement continues considerable, and a good
deal of specie has gone South from New York as well as abroad.
The general movement of specie is now from the centers of business to the
agricultural districts, following the crop movement. The specie in the cities of
London and Paris and in the United States is as follows :—
SPECIE IN BANKS.

October.

London. $35,860,110
Paris... 35,585,613
N. York
7,843,230
N. Orl’ns 3,230,370
Boston.
2 563,112
Philad..
2,071,434
Total

March 11.
July 12.
August 14. September 9. October IS.
$ 88 ,532,091 $ 8 4 ,21 7 ,8 9 5 $88,937,637 $87,811,010 $94,365,436
63,323,865
9 8.991.184 105,283,051 116,953,892 103,007,890
32,961,076
8 5.328.184 44,037,300 40,686,300 38,705,300
10,877,768
10,912,871 11,285,308 11,473,272
10,978,759
7,589,968
8,795 945
9,000,663
8,701,679
8,692,225
5 ,4 4 8,51 4
6,399,754
6,875,620
6,635,856
7,361,906

86,743,890 208,834,273 244,855,448 259,842,424 270,336,009 263,606,549

The specie movement weekly has been as follows :—




709

Commercial Chronicle and Review.

GOLD RECEIVED FROM CALIFORNIA AND EXPORTED FROM NEW YORK W E E K L Y , W IT H THE
AMOUNT OF SPECIE IN SUB-TREASURY, AND THE TOTAL IN THE CITY.

,------------185 7.

-

n

Exported.
Beceived.
Beceived.
Jan. 1 6 .... . . $1,269,107 $250,000 $1,607,440
781,295
2 3 ....
3 0 ....
1,665,779
1,177,812
Feb. 6 ... ,
348,216 1,348,507
1 3 .... . . 1,097,186
2 0 ....
279,667
26,708 1,640,430
2 7 .... . . 1,296,108
967,405
Mar. 7 . . . .
636,000
422,914 1,279,134
1 3 ....
2 0 .... . . 1,004,000
306,351
11,000
2 7 .... .......................
38,734 1,403,949
April 3 .... . . 1,487,128
742,233
1 0 ....
468,698
375,800
779,892 1,325,198
1 7 ....
2 4 ....
140,075
106,200
41,208
May 1 ....
1,711,390 1,550,000
8 ....
671,101
1 5 .... . . 1,929,527 1,826,029 1,626,171
2 2 ....
198,000
353,166
29___ . . 1,658,072 2,714,002 1,575,991
........... 489,668
June 5___
1 2 .... . . 1,920,168 3,394,892 1,446,175
1 7 .... . .
208,000 2,045,389
2 6 ....
2,019,406 1,799,502
July 3 .... . . 1,892,000
58,228
1 0 ....
1,184,115
1,500,000
1 7 .... . . 1,591,107
623,368
2 4 ....
200,000 1,893,893
8 1 .... . . 1,488,040
896,407 1,163,818
Aug. 7___ ................. 1,616,932
1 4 .... . . 1,245,905
930,430 1,531,514
99
2,180,008
29.. . .
149,399 1,434,674
Sept. 4 . . . . . . 1,706,000
287,500
1 1 ....
187,187 1,796,139
1 8 ....
102,968
2 5 ....
10,687 1,570,924
Oct. 2 . . . . ......... .
412,600
9 .... . . 1,268,735
69,000 1,322,005
1 6 .... . . 1,664,200
5,000
2 3 ....
600,000
30.. . . . . 1,877,858
177,545 1,352,101
Nov. 6 .... 227,000
. . 2,605,457
1 3 .... . . 1,207,000
697,650 1,672,656

ItiS8.
"\
Total
Specie in
Exported. sub-treasury. in the city.
$1,045,490 $2,934,000 $33,145,266
1,244,368 3,073,900 33,903,151
57,075 3,288,500 34,561,500
2,928,271 3,168,787 33,821,735
48,850 3,384,800 33,611,075
641,688 3,360,000 34,776,076
128,114 3,420,900 35,079,294
297,898 2,996,700 35,736,431
225,274 2,964,000 35,925,076
116,114 6,853,852 37,681,656
83,120 6,141,594 37.071,066
115,790 5,548,069 37,078,069
250,246 4,875.975 36,912,411
203,163 3,841,577 37,035,026
15,850 3,695,071 37,808,806
136,873 8,145,400 38,209,613
106,110 2,874,200 38,327,346
720,710 6,853,590 41,586,300
532,862 5,566,300 39,613,700
400,300 6,398,500 37,894,600
51,425 5,263,300 38,053,660
16,616 4,803,609 38,170,900
68,318 7,773,108 38,011,251
276487 7,461,600 39,410,688
317,110 5,820,000 39,650,000
564,030 5,342,200 40,047,800
637,240 5,157,600 40,485,000
1,028,270 5,336,000 40.851,000
303,318 5,144,700 40,856,800
786,841 5,553,400 40,699,200
440,729 12,886,800 44,037,300
844,781 17,739,600 46,089,100
187,941 13,418,000 41,235,000
562,087 13,077,000 41,125,600
227,980 12,626,900 40,686,300
1,361,110 12,612,200 41,420,200
474,945 11,838,000 40,463,000
1,126,404 11,100,600 39,633,700
675,817 10,476,649 39,646,853
886,234 10,198,837 39,705,345
401,866 9,695,817 38,377,246
593,310 9,151,500 35,859,300
184,452 8,256,052 34,593,407
142,130 7,808,518

Total.. . . . . 35,464.467 33,8S0,348 30,400,126 23,791,805

The exports last year were stopped during the panic, but have been sustained
from New York this year. From Boston the exports for October were $193,000.
The whole exports from Boston and New York since January have been as fol­
lows :—
SPECIE EXPORTS— JANUARY 1ST TO NOVEMBER 6TH .

Boston...........................................................................
New Y o r k ...................................................................
Total exports.
Total receipts




1857.

1858.

$6,913,099
33,182,698

$2,522,653
23,649,675

$40,095,797
34,254,447

$26,172,328
23,649,67

Commercial Chronicle and Review.

710

Tlie description and destination of specie exported from the port of New York
for six months, to November 8, were as follows :—
SHIPMENTS OF SPECIE FROM PORT OF N E W YORK.

American
coin.

Bars.

French
Silver. Sovereigns. D’hloons. gold.

Spanish
silver.

Total.

L iverpool.................. 1,275,438
____
9,800
....................................
1,285,238
Havre........
18,342
408,477
426,819
Hamburg .
1,250
7,280
....................................................................
8,530
Bremen....................
183,000
...................................................................
183,000
Porto Rico.
10,000
........................................
9,510
____
1,500
21,010
B. Ayres......................................................................
63,735
.......................
63,735
Laguayra..
5,000
5,000
Jacmel . . .
1,000
1,000
Sumatra.................................................................................................... 51,600
51,600
Shanghae..
100
100
Rio Grande
1,500
........................................
5,000
____
1,000
7,500
E. Indies................................................................................................... 12,000
12,000
T o t a l... $37,192 1,874,195
____
9,800 78,245
____ 76,100 2,065,532
May 8th to
Nov. 8th 2,154,802 10,418,943 49,666 317,288 362,532 88,575 165,798 13,465,608

The export for the month has been nearly all gold bars to Liverpool and
Havre. The supply of foreign coins has, owing to the considerable decline
in immigration, been far less abundant, and the outward movement of those
metals has been very limited. Of $2,065,000 exports for the month, only
$37,192 was American coin. The operations of the New York Assay-office show
for October deposits $1,550,000 of gold, and $286,000 of silver, of which only
$270,000 rvas ordered into coin, the balance in bars for export. I f we compare
the Assay-office operation for three months ending with October, the results are
as follows
1856 ........................
1857 ........................
1858 ..............................

.---------------Deposits. --------------- ,
Gold.
Silver.

,-------------- Payments.-------------- .
Bars.
Coin.

$5,083,000
4,918,000
4,795,000

$5,049,700
1,364,000
4,688,000

$82,100
1,170,000
1,147,000

$56,000
4,920,000
1,254,000

The supply of both metals was larger last year than this or the year 1856.
The prevalence of the panic caused a great disturbance last year in the mode of
payment, coin being in demand. The small imports, and the continued fair ex­
ports of cotton and other produce, have given a good supply of bills, and they
attracted to the South some millions of gold from the New York banks, the
effect of which is seen in the above table in a fall of over five million dollars in
the specie held in the city. The movement, however, reacted upon the bill
market, causing a marked decline, which expressed itself as follows :—
November 1.

London..................................
P a ris.....................................
Am sterdam .........................
Frankfort...............................
B rem en ................................
Hamburg...............................
Antwerp ............................
Berlin, Liepzig, Cologne. . .

94 a 10
5.124 a 5 .1 5
414 a 41£
41f- a 41§
79# a 79#
364 a 36#
5.124 a 5.15
72# a 73#

November 8.

9£ a
9J
5 .1 3 f a 5 .1 6 £
414 a
41£
41f a
41£
79# a
79#
364 a
36#
5.13# a 5.15
72# a
73

November 15.

8-J a
9f
5.15 a 6 .1 8 f
U fa
41£
414 a
41J
79* a
79£
36# a
36#
5.15 a 5 16#
72# a 73

The rates of money here being so unusually low at this season—say 3 a 4
per cent on call stocks collateral, 4 a 44 premium short bills, and 5 a 6 per cent




711

Commercial Chronicle and Review.

over ninety days, the employment of money here offers no better terms than
abroad at the present rates of bills. The payments continue to be good from
most parts of the country except from the extreme West, where the depression,
by reason of the breaking down of the land speculation, the cessation of railroad
expenditure, the stoppage of migration, and the low prices of produce, with
failure of crops in some locations, are all circumstances adverse to present pay­
ments. Nevertheless, banks are being there organized under the new laws.
Minnesota has ten or twelve banks organized, and in Iowa the State Bank has
been started with many branches; as far as these banks indicate the migration
of capital to these States to start the banks, they are favorable features, but
little is to be expected from them beyond that. In other sections the payments
have been such as to liquidate a large mass of paper, and the payments of foreign
debts have been very considerable, enough so as to have a good effect on Ameri­
can credit. The aspect of affairs abroad seems to be encouraging. All the
elements of a good season for business are active. Cheap money, cheap food,
abundant labor, and cheap materials; while in England and Western Europe
the crops are good. In France, the wine and silk crops are also good, and show
but little outward demand for money, which continues to accumulate, although
the resumption of the Bank of Austria has caused a demand for money and a
rise of interest in some of the German cities. The gradual accumulation of
money last month induced a reduction of the Paris rate of interest to 3 per cent,
and it has been expected that-the London rate would undergo a further reduc­
tion, but the movement is postponed apparently until the Bank of Austria has
fairly resumed its specie payments and the resulting disturbance passed atvay.
During forty years the Bank of France kept the rate at 4 per cent, but since
the modification of the usury laws, and the greater degree of activity imparted
to enterprise in France, the fluctuations have been more marked. Never before
has the quantity of specie in the bank obtained such a magnitude, it having
reached, September 9tli, $116,953,892 in both bank and branches, while the
sum of commercial bills discounted was small. Gold continues to flow freely
into France, while the outward current of silver is checked. The bank rate of
interest stands comparatively as follows :—
B A SK OF FRANCE.

,—

1855_ _ _ , ,— 1856. — , ,—
Specie.

January............... $67,116,810
February........... 79,216.823
M arcli................
82,664^903
April...................
81,134,398
M a y ................... 78,921,393
June....................
74,531,026
J u l y ................... 59,060,551
August................ 63,522,457
September.......... 54,531,500
October............... 43,583,808
N ovem ber......... 39,665,555
Decem ber.......... 42,379,330

Dis.

Specie.

Bis.

1857. — , ,----- 1858.- - - - - ,
Specie.

Bis.

4 $3S,644,546 6 $35,897,189 6
4 40,176,922 6 36,585,131 6
4 38,268,236 6 41,678.545 6
4 50,293,190 5 45,980,402 6
4 53,688,381 5 43,749,456 6
4 53,680,536 5 53,397,182 6
4 43,203,714 5 49,195,570 5J
4 46,412,781 5 45,975,784 6£
4 44,229,960 6 46,296,110 5£
5 31,212,119 6 42,286,591 6£
6 30,706,956 6 35,585,613 8
6 36,247,389 6 44,630,121 6

Specie.

B is.

$47,128,880 5
53,635,138 4J63,323,865 4
71,780,888 4
82,993,386 4
85,716,528 3$
98,991,934 3£
105,283,051 3£
116,953,892 3
103,007,890 3
..........................
..........................

The rate of interest is now the same as in the Bank of England. In England
a similar state of affairs is apparent in so far as that the drain for coin upon the
bank appears to have ceased, and the bullion at the latest date had risen to
£19,498,000. Its returns are as follows:—




712

Commercial Chronicle and Review.
B ASK OF ENGLAND.

/- - - - - 1855.----- , ,- - - - - 1856.- - - - - , ,---- 1857.----- , ,- - - - - 1858.- - - - - ,
Specie.

Jj is,

Specie.

Bis.

Specie.

Bis.

Specie.

Bis.

£10,416,951 6
£10,182,406 6
£13,857,107 6
January........... £12,162,000 5
Febru ary___
12,981,000 5
10,613,719 6
9,979,246 6
16,574 647 3
March.............. 13,662,000 5
10,553,565 6
10,310,496 6
17,713,242 3
A p r il..............
15,206,000 i \
9,858,667 6
10,322,297 64
15,307,389 3
M a y................
15,499,000 4
9,788,582 6
9,808,127 6 j
17,926,986 3
June................
18,060,716 3£
13,073,758 4J
10,290,640 6
18,020,944 3
J u l y .................. 17,328,896 4
12,378,327
11,516,856 5J
17,938,447 3
12,494,945 4|
11,259,906 5£
17,340,421 3
August............ 16,275,295 4
Septem ber....
14,828,000 4£
12,141,311 4^
11,276,088 6
18,039,465 3
O c to b e r ......... 12,294,281 5|
10,784,254 6
10,662,692 7a8 19,496,991 3
N o v e m b e r ... 11,234,436 6
9,530,152 7
7,170,508 9 a l 0 .......................
D ecem ber----- 11,079,578 6
10,486,298 6 f 10,753,281 8
........................

The specie which now arrives goes into bank. The European and the in­
ternal demand is at an end, while the sum accumulating threatens far to exceed
any former amount.
The Bank of France has ceased to be a purchaser of gold on the terms of the
last three years, but the resumption of specie payments, November 1st, by the
National Bank of Austria has caused such an internal demand for money in
Europe as to have compelled a rise in the rate of interest at most of the centers
of finance, and a restrictive action on the part of the lenders. The reduction of
the circulation of Austria has given a check to speculation upon the stock ex­
change, and threatens a large redemption at this season of a dull trade, but the
crops of Europe being good, and every element of activity returning, the demand
for circulation of both paper and metals will show itself, and this demand will
cause a drain of the metals ; and in those countries like Austria, where silver is
the chief medium, the effects of the China drain are still to be felt, and the ap­
preciation of that metal may yet manifest itself in relation to gold. In Austria,
the circulation of the National Bank is now 389,613,459 florins, or two hundred
million dollars. The figure has been much higher, and the paper circulation at
an agio 3 a 8 per cent for silver. This currency, as a matter of course, drove
out the silver, which found its way to the East, and that without causing much
relative change in its value, because if paper was substituted so largely for it in
Austria, and gold in France, the rejected metal found a market in Asia. Aus­
tria now demands silver for a currency on the eve of a revival of prosperity,
when the quantity of all the currency required will be greater. This effective
European demand will test the value of silver under the new gold influences.
The favorable position of all the institutions and crops abroad promises well
for a renewal of the export trade of the United States, although prices are there
low for food. The French government has postponed for another year the re­
imposition of duties on grain, and prices, as well as freights, are very low in
the United States, and an improved export trade may be looked for.
The state of business, as manifested in the usual tables annexed, indicate that
the remainder of the government loan cannot long be withheld from the market.
The amount of money in the Federal treasury stood at §10,868,934, September
27th, and fell to §7,889,257, October 25th, a decline of three million dollars in
the month of usually large revenues. November and December are dull months,
and five million dollars is stated officially as the minimum that can be held in




713

Commercial Chronicle and Review.

the treasury. It is, therefore, apparent that the remaining ten million dollars
must come speedily upon the treasury.
The imports of merchandise at New York, for the month of October, show a
large gain upon the corresponding total of last year, but the great bulk of entries
was for consumption, instead of being thrown into warehouse, as was the case
last year. The receipts of free goods have been increased by the additions to
the free list under the new tariff, but the imports of specie have been greatly
reduced. The total entered at the port for October, including specie, is § 8 9 6 ,8 8 3
less than for October, 1857. We annex a comparison, which includes four
years:—
FOREIGN IMPORTS AT N E W YORK IN OCTOBER.

1855.
Entered for consumption............... $12,088,621
Entered for warehousing...............
2,379,886
Free goods.......................................
1,082,125
Specie and bullion.........................
54,399

1856.
$9,932,001
2,836,781
961,781
95,029

1857.

1858.

$2,791,905 $9,284,470
7,356.424 2,157,678
1,782,345 2,061,468
2,509,194
89,368

Total entered at the port............. $15,605,031 $13,825,592 $14,439,867 $13,542,984
"Withdrawn from warehouse........
1,597,437
3,273,982
1,750,392
2,462,425

The total entered at the port since January 1st is §79,072,522 les3 than for
the same time last year, and less than for either of the preceding three years.
FOREIGN IMPORTS AT NEW' YORK FOR TEN MONTHS, FROM JANUARY 1ST.

1855.
Entered for consumption................ $96,753,676
Entered for warehousing............. 21,567,338
Free goods...................................... 11,335,119
Specie and bullion.........................
733,398

1856.

1857.

1858.

138,832,192 117,314,904 $85,816,904
31,331,443 64,212,297 22,389,828
15,663,426 17,287,050 18,613,563
1,245,799
9,189,107
2,110,541

Total entered at the port.............. 130,389,531 187,072,860 208.003,358 128,930,836
"Withdrawn from warehouse........ 21,068,896 22,371,624 33,872,666 33,560,002

The imports of drygoods (included in the above) have been divided very much
in the same proportion as the receipts of general merchandise, the greater portion
having been entered for consumption. The total of dry goods entered at the
port is §565,722 more than for October of last year, and the quantity put on the
market is §3,328,339 more than last year :—
IMPORTS OF FOREIGN D R Y GOODS AT N E W YORK FOR THE MONTH OF OCTOBER.
ENTERED FOR CONSUMPTION.

1855.
Manufactures of wool...................
Manufactures o f cotton............
Manufactures of silk....................
Manufactures of flax....................
Miscellaneous dry goods...............
Total




$1,738,240
770,574
1,666,267
718,110
426,027
$5,319,218

1856.
$910,699
594,649
1,005,771
408,354
386,998
$3,306,471

1857.

1858.

$200,452 $1,008,686
95,994
529,125
145,702
1,364,921
70,197
415,830
110,490
226,528
$622,835

$3,545,090

714

Commercial Chronicle ancl Review.
W ITH D RAW N FROM WAREHOUSE.
QO

Manufactures of wool...................
Manufactures of cotton...............
Manufactures of silk....................
Manufactures of flax....................
Miscellaneous dry goods..............
Total......................................
Add entered for consumption.. .
Total thrown on m arket.. . .

1S5G.

1857.

1858.

$59,112
57,360
136,651
43,912
32,447

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

$61,255
20,408
49,929
4,902
25,258

$300,980
64,094
54,498
72,534
75,730

$329,482
5,319,218

$391,437
8,306,471

$161,752
622,835

$567,836
3,545,090

$5,648,700

$3,697,908

$784,587

$4,112,926

ENTERED FOR WAREHOUSING.

1855.

185G.

1857.

Manufactures of w ool.................
Manufactures of cotton...............
Manufactures o f silk...................
Manufactures o f f l a x ...........................
Miscellaneous dry goods.............

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

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

$779,708
479,056
877,371
312,629
256,540

$94,022
78,761
44,216
80,506
51,266

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

$508,504
5,319,218

$768,201
3,306,471

$2,705,304
622,835

$348,771
3,546,090

$5,827,722

$4,074,672

$3,328,139

$3,893,861

Total entered at port.......... .

1858.

This leaves the total receipts of dry goods at New York from foreign ports,
since January 1st, $34,312,265 less than last year:—
IMPORTS OF F O R EIG N D R Y GOOES AT THE PORT OF NEW YO R K , FOR TEN MONTHS,
FROM JANUARY 1ST.
ENTERED FOR CONSUMPTION.

18S5.

1856.

1857.

1858.

Manufactures o f w o o l................... $14,762,483 $22,225,997 $19,211,416 $14,899,522
Manufactures o f cotton.................
7,284,754 13,357,725 13,844,025
8,087,121
Manufactures of silk..................... 18,878,589 26,260,353 22,057,413 15,824,483
Manufactures o f flax.....................
4,893,680
7,057,713
5,114,515 3,775,793
Miscellaneous dry goods...............
4,503,056
6,260,955
5,490,856 2,924,698
T ota l....................................... $50,822,562 $75,162,743 $65,718,225 $45,511,617
W IT H D R A W N FRO M W AREHOUSE.

1855.

1856.

1857.

1858.

Manufactures of w ool...................
Manufactures of cotton..................
Manufactures of silk......................
Manufactures of flax......................
Miscellaneous dry goods..............

$2,271,944
2,041,920
2,485,211
1,107,080
740,646

$2,487,694
1,888,943
1,S23,401
927,274
367,108

$4,876,938 $4,304,226
2,738,823
3,344,757
3,912,795
3,119,963
1,394,028
1,940,560
733,135
1,212,109

Total withdrawn....................
Add entered for consumption___

$8,646,801
65,322,562

$7,494,420 $13,655,719 $18,921,615
75,162,743 65,718,225 45,511,617

Total thrown upon market... $58,969,363 $82,657,163 $79,373,944 $59,433,232




715

Commercial Chronicle and Review.
ENTERED FOR ‘WAREHOUSING.

1855.

1856.

Manufactures of w o ol...............
Manufactures of cotton............
Manufactures of silk.................
Manufactures of fla x................
Miscellaneous dry goods..........

$1,569,684
1,440,562
1,815,763
880,309
618,797

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

$7,429,904
3,557,696
5,525,267
2,270,263
1,674,084

$2,003,664
1,726,791
1,076,773
808,779
535,160

Total......................................
A dd entered for consumption..

$6,325,115
50,322,562

$8,270,948 $20,457,214
75,162,743 65,718,225

$6,151,157
45,511,617

1857.

1858.

Total entered at the port....... $56,647,677 $83,433,691 $86,175,439 $51,662,774

The exports from New York to foreign ports, during the month of October,
show a falling off from the corresponding total of last year in every item but
specie and bullion ; this is owing to the decreased demand for breadstuffs, and
will sufficiently explain the current low rates for flour in this market. The item
of specie is more than last year, when the specie movement wTas arrested, but is
less than for the preceding year :—■
EXPORTS FROM NEW YO RK TO FOREIGN PORTS FOR THE MONTH OF OCTOBER.
CO

Total, exclusive of specie . .

1855.

oo

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

1857.

1858.

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

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

$6,491,529
212,443
806,049
297,259

$5,233,363
161,063
359,185
3,028,405

$8,035,699 $11,329,005
6,332,345
6,847,590

$7;807,280
7,510,021

$8,782,016
5,753,611

This brings the exports from New York, since January 1st, (exclusive of
specie,) $510,575,804 below the total for the corresponding ten months of last
year
EXPORTS FROM NEW YO RK TO FOREIGN PORTS FOR TEN MONTHS, FROM JANUARY 1ST.

1855.
Domestic produce...... $46,422,445
Foreign merchandise (free).............
Foreign merchandise (dutiable).,.
Specie and bullion.... 26,627,305

1856.

1857.

1858.

$63,466,032 $53,725,298 $46,767,981
3,489,470
820,006
3,339,769
1,286,624
3,983,183
2,684,930
4,910,199
3,345,857
32,483,746 33,585,891 23,631,253

Total exports...... $79,522,403
$99,454,714 $95,561,157 $75,031,715
Total, exclusive of sp ecie.. .
53,895,098 66,970,968 61,975,266 51,400,462

The differences in the receipts for duties during the last month, and for the
corresponding month of last year, is particularly striking. In October, 1857,
but few goods, even of those imported, were thrown upon the market, while for
the last month the total marketed was greater than the aggregate value of the
entries, the stock in warehouse being again reduced. We annex a summary of
the total receipts since January 1st:—■
CASH DUTIES RECEIVED AT N E W YORK.

1857.

1856.
First quarter . .
Second quarter
Third quarter...
In October........
Total since January 1 s t....




$11,642,681
10,898,464
14,430,078
3,391,230

46
29
OS
97

$40,362,454 SO

$13,406,813
5,886,708
13,188,832
867,534

1858.
26
85
90
99

$33,334,890 00

$5,918,711
5,170,400
9,605,358
2,054,834

60
97
97
43

$22,749,305 97

716

Journal o f Banking, Currency, and Finance.

JOURNAL OF BANKING, CURRENCY, AND FINANCE.
PHILADELPHIA “ CLEARING ” HOUSE.

The Philadelphia Commercial List gives the following account of the forma­
tion and operation of the Clearing-house of that city. That of New York
went into operation October 1, 1853, and has operated with the greatest success.
That of Philadelphia went into operation November 22,1858. The Commercial
List remarks :—
The clearings daily, at this establishment, amount, in the aggregate, to three
or four millions of dollars.
Clearings.

March 22 to 31..........................................................
A pril...........................................................................
M ay.............................................................................
June.............................................................................
July..............................................................................
August........................................................................

$28,466,432
70,250,273
71,094,719
64,605,439
64,357,890
60,605,355

Balances paid.

48
53
94
29
95
63

1,554,155 34
4,682,115 27
4,330,135 68
4,105,612 66
4,758,624 09
4,024,529 84

The “ Clearing-house ” rooms are in the Farmers and Mechanics’ Bank build'
ing, and are arranged for the accommodation of the clerks who represent the
various banks, and for the meetings of t.he officers of the banks composing the
Clearing-house Association. In the clearing room are counters with drawers, etc.,
divided off with brackets, affording convenience for two clerks from each of the
seventeen city banks. Before half-past eight o’clock every morning the clerks
assemble, and the “ settling clerks ” take their places behind the counter with
their sheets prepared, showing the different amounts of money their respective
banks have received the day previous, and which they have brought sealed up in
packages for the banks which issued or redeem it. The “ package clerks ” stand
opposite the settling clerks, outside the counter with carpet bags containing the
money, having also a sheet showing the amount of money they have for each
bank, with a space for the signature of the settling clerks. A t the signal from
the manager (8j o’clock precisely) the package clerks move one pace to the left,
deliver a package and take a receipt, and continue on in a similar manner until
all their packages are delivered. As the settling clerks receive these packages
they keep a record of the several amounts, and also of the total amount each
bank has brought to the Clearing-house. This is all accomplished in from five
to six minutes, and the carpet bags are again filled with the “ amount received,”
and the package clerks start to their respective banks with the money. The
settling clerks remain, and having the “ amount brought,” and ascertained the
“ amount received,” they strike the balance and see how much they are debtor or
creditor. This record being made on the package slips, they are passed round,
and each clerk takes down the amount received by each bank and its balance.
The balances and totals must agree, and from fifteen to twenty minutes from the
time the signal was given, the settlement is made and the settling clerks leave.
A t from 11 to 12 o’clock the debtor banks send to the Clearing-house and pay
their balances in coin, and at 12^ o’clock the creditor banks send and receive their
balances. A regular record of all these transactions is kept at the Clearing­
house, with a ledger account with each bank, showing its daily working, and also
a weekly and monthly record of the several clearings and balances. There is a
vast array of figures. The large amounts certainly show a much greater business
done by the banks than might be indicated by the business among merchants
and others. The clearings daily are from two millions to four millions of dollars.




Journal o f Banking, Currency, and Finance.
C IT Y

W EEKLY

BANK

717

RETU RN S.

NEW YO RK W E E K L Y BANK RETURNS.

Loans.

Jan.

2 §98,549,983
9
98,792,757
99,473,762
16
23 101,172,642
30 102,180,089
Feb. 6 103,602,932
13 103,783,306
20 103,706,734
27 103,769,127
March 6 105,021,863
13 105,293,631
20 107,440,350
27 109,095,412
April 3 110,588,854
10 110,847,617
17 111,341,489
24 111,003,476
May 1 111.868.456
3 112,741,955
16 114,199,288
22 115,658,082
29 116,650,943
June 6 116,424,597
12 116,022,152
19 117,797,547
26 118,823,401
July 3 119,812,407
10 118,863,937
17 119.164.222
24 118,946,482
31 119.850.456
Aug. 7 120,892,857
14 123,374,459
21 126,368,231
28 126,004,424
Sept. 4 125,885,840
11 125,013,211
15 124,649,018
25 124,118,904
Oct. 3 123,659,697
9 123,599,250
16 124,216,701
23 124.374.222
30 126,093,586
Nov. 6 126,809,492
13 127,027,519

Specie.

Circulation.

Deposits.

Average
clearings.

Actual
deposits.

$28,561,946
29,176,83
30,211,266
30,829,151
31,273,023
30,652,948
30,226,275
31.416.076
31,658,694
32,739,731
32.961.076
31,902,656
30.929.472
31,530,000
32,036,436
33,196,449
34,113,891
35,064,213
35,453,146
34,780,728
34,017,446
31,496,144
82,790,333
33,367,253
32,396,456
31,948,089
33,830,232
34,705,593
35,328,184
35,315,243
35,712,107
35,154,844
31.150.472
28.349.507
27,817,006
28,048,661
28,059,495
28,808,068
28,625,331
28,533,785
29,170,204
28.506.508
28,681,429
26,707,817
26,337,355
26,039,277

$6,490,403
6,625,464
6,349,325
6,336,042
6,369,678
6,873,931
6,607,271
6,542,618
6,530,759
6.854.624
6,755,958
6,853,852
6,892,231
7,232,332
7,245,809
7,190,170
7,140,851
7,431,814
7,736,056
7,502,975
7,307,445
7,252,616
7,547,830
7,367,725
7,297,631
7,215,689
7,458,190
7.571.373
7,346,946
7,351,065
7,408,365
7,784,415
7,388,739
7,480,684
7,466,846
7,748,249
7,830,669
7,813,695
7.864.373
7,875,750
7,980,519
7.890.624
7,879,024
7,822,909
8,186,933
7,975,420

$78,635,225
79,841,362
81,790,821
82,598,348
83,997,081
86,000,468
84,229,492
86,773,222
87,386,311
90,382,446
90,063,432
91.238.505
90,644,098
93,589,149
93,566,100
96,448,450
95,340,344
98.438.506
101,165,806
101,884,163
101,917,869
99,351,901
101,489,535
100,787,073
102,149,470
101,961,682
106,803,210
106,420,723
107,101,061
105.490,896
106,456,030
107,454,715
105,034,769
104,609,658
103,928,178
103,347,811
102,899,554
104,733,688
102,429,344
104,901,563
105,565,930
106,497.058
108,072,518
108,801,256
109,217,448
109,23S,497

$13,601,357
13,899,078
14,066,412
13,074,762
13,519,330
15,439,083
13,803,583
14,769,565
15.657.056
18,002,665
16.511.506
17,064,688
16.429.056
17,567,160
16.776.237
17,329,431
16,141,451
17,875,203
19,438,661
18,284,868
17,620,131
16,199,657
17,982,648
16,503,899
16,818,521
15,825,983
17,267,927
18,168,757
17,046,961
15,365,206
15,310,157
17.115.237
15,208,690
15,449,895
16,208,039
15,414,213
15,989,375
17,603,982
16,347,447
19,015,193
19,175,717
19,907,696
20,929,351
21,494,870
21.899.507
20,715,976

$65,033,867
63,942,284
67.723.909
69,523.836
70,477,751
70,561,405
70.425.909
72,003,657
71,729,805
72,370,781
72,552,926
74,173,917
74,201,709
76,021,989
76,790,863
78,121,025
79,198,893
80,563,303
81,727,146
83,599,295
84,297,738
83,152,244
83,506,887
84,283,194
85,280,987
86,135,699
89,535,283
88,260,956
90,054,100
90,105.690
91,145^873
90,339,678
89,826,082
89,159,763
87,720,139
87,933,594
86,908,179
87,129,706
86,081,897
85,886,370
86,390,203
86,589,362
87,143,167
87,306,387
87,317,941
88,642,521

Specie.
Circulation.
Deposits.
Loans.
to banks. from banks.
5. . . . $50,726,800 $5,028,000 $5,416,000 $17,073,800 $3,911,000 $5,732,600
12. . . . 61,221,000 5,449,000 5,938,400 17,226,700 4,368,000 5,969,500
18. . . . 51,740,926 6,661,216 5,669,028 17,722,553 4,754,006 5,891,800
25. . . . 51,772,412 6,073,680 5,494,721 18,129,649 3,531,721 1,949,031
Feb. 1. . . . 61,854,178 6,402,460 5,251,006 18,395,692 5,111,278 5,725,337
8. . . . 62,011,821 6,872,977 5,498,600 18,602,984 5,317.764 5,756,068
15. . . . 52,137,972 7,079,606 5,898,660 18,429,945 5,568,464 5,523,012
22. . . . 62,089,500 7,257,800 5,299,000 18,450,500 6,339,600 5,377,900
Mar. 1. . . . 61,970,800 7,316,800 5,170,000 18,625.000 5,778,000 5,625,000
8. . . . 52,251,300 7,497,700 5,182,400 19,031,682 5,764,000 6,137,000
15. . . . 52,068,743 7,559,698 5,291,549 18,909,682 5,837,534 6,011,377
22. . . . 51,999,451 7,235,531 5,163,492 19,029,251 5,934,007 6,057,699
29. . . . 51,632,451 7,905,491 5,159,569 18,895,249 5,804,569 5,925,462

Jan.




718

Journal o f Banking, Currency, and Finance.

April 5 . .
12..
1 9 ..
2 6 ..
May 4 . .
10 ..
1 8 ..
2 5 ..
8 1 ..
June 7 . .
1 4 ..
2 1 ..
2 8 ..
July 5 . .
1 2 ..
1 9 ..
2 6 ..

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

2 3 ..
3 0 ..
Sept. 6 .
1 3 ..
20 ..
2 7 ..
Oct. 4 . .
1 1 ..
1 8 ..
2 5 ..
Nov. 1 . .
8 ..

Loans.
51.9 18 .0 0 0
52,042,428
5 1.752.500
51,388,977
5 1,4 99 ,7 0 0
51,679,315
52.6 22 .0 0 0
53,396,741
5 3,469,179
53,407,693
53,951,082
54,162,119
54,780,644
5 5,808,453
56,200,929
5 6,626.264
66,602,469
5 6.250.500
56,096,805
55,971,072
55,845,271
5 5,650,350
55,926,042
56,238,615
56,414,497
66,410,258
56,226,344
5 5,993,810
55,940,039
55,857,618
55,601,573
55,817,151

Specie.
8,2 5 9,50 0
8 ,505,312
9.007.000
8,851,719
9.2 4 3.00 0
9,351,861
9.210.000
9,015,146
9,120,846
9,315,086
9,410,569
9,457,831
9,119,604
9,104,461
9,000,663
8,930,757
8,943,004
8,883,400
8,985,526
8,795.945
8,958,280
8,724,186
8,701,679
8,589,825
8,432,250
8,378,564
8,593,378
8,601,982
8,692,225
8,940,572
9,098,907
9,258,452

Circulation.
5.4 7 7.50 0
5,852,991
6.224.500
6 ,007,628
5 ,9 0 3,60 0
6 ,165,768
6 ,117,000
6,096,417
5,903,020
5,870,808
5 ,732,900
5,703,699
5,633,176
6,313,049
6,538,325
6,236,698
6,268,745
5,869,800
6.238.221
6,026,818
5,988,995
5,889,477
6,137,981
6,265,577
6,265,314
6,155,136
6,415,799
6,950,324
6,674,737
6,505,858
6.402.222
6,735,124

Deposits.
2 0,1 36 ,4 0 0
2 0,675,028
2 0 ,6 57 ,5 0 0
20,6 71 ,5 6 9
2 1,2 57 ,9 0 0
21,1 43 ,9 7 3
2 1,527,700
21,418,578
2 0,8 46 ,8 6 0
20,6 68 ,0 3 7
20,8 15 ,5 6 0
2 0,764,739
2 0,883,942
2 1,570,803
21,075,247
21,462,437
21,456,471
21,161,000
21,051,519
20,804,875
2 0,698,794
2 0,698,228
20,971,138
20,634,771
20,799,474
21,003,583
21,561,424
2 1,940,062
22,303,433
22,435,359
22,538,477
22,816,263

Dae
from banks.
6.386.000
6,590,350
6, 110,000 7 ,259,400
7,363,702
5 ,884,533
5 .925.900 7.4 4 4.00 0
5,949,986
7.562.886
6 .263.000
7,187,800
6,756,792
7,176,486
6 ,929,062
6,530,828
6,399,061
7,265,607
7.532.900
5,755,268
7,804,896
5,809,542
5,674,795
7 ,827,075
8,089,162
6,357,413
6,299,019
8 ,526,510
6,023,415
8,565,647
8,65S,185
6,268,745
8,467,000
5.757.000
6,112,023
8,445,734
8,132,356
5,675,367
7,693,989
5,599,457
5,952,844
7,537,728
7,6 3 2,56 2
6,287,397
6,267,769
7,837,548
7,932,082
6.493.886
7,728,766
6 ,5 6 5,20 8
7,5 7 2,43 4 7 ,064,285
7,841,109
7,797,659
7,653,858
7,474,187
7,836,100
7,470,666
7,583,069
7 ,348,934
7,4 3 5,69 0 7 ,472,200
Due
to banks.
6.576.900
5,987,725

W E E K L Y A\ ERAGE OF THE PHILADELPHIA BANKS.

Date.

Jan.
Jan.
Jan.
Feb.
Feb.
Feb.
Feb.
Mar.
Mar.
Mar.
Mar.
Mar.
Apr.
Apr.
Apr.
Apr.
May
May
May
May
May
June
June
June
June
July
July
July
July

11,’58
1 8 ...
2 5 ...
1 ...
8 ...
1 5 ...
2 2 ...
1 ...
9 ...
1 6 ...
2 3 ...
3 0 ...
6 __
1 2 ...
1 9 ...
2 6 ...
3 ...
1 0 ...
1 7 ...
2 4 ...
8 1 ...
7 ...
1 4 ...
2 1 ...
2 8 ...
5 __
1 2 ...
1 9 ...

26...

Loans.
$ 2 1 ,30 2 ,3 7 4
21,068,652
20,730,958
20,4 23 ,7 0 4
2 0,359,226
2 0,071,474
2 0,161,260
20,251,066
20,471,161
2 0,522,936
20,796,957
21,020,198
2 1,657,152
21,656,028
21,776,667
22,141,SOO
2 2,243,824
22,1 90 ,9 3 4
22,592,841
2 2,969,576
23,103,418
23,542,751
23,796,085
2 3,803,903
24,0 60 ,7 0 8
2 4,311,928
28,7 83 ,7 9 2
24,555,873
2 4,570,778




Specie.
$3,7 70 ,7 0 1
4,018,295
4,2 4 3,96 6
4 ,4 6 5,69 3
4 ,6 6 8 ,0 8 5
4 ,8 8 8,98 3
4 ,9 2 4,90 6
4 ,9 0 3,93 6
5,147,615
5 ,4 4 8,51 4
5,483,358
5 ,661,782
5,937,595
6 133,000
6,382,485
6,7 5 2,64 0
7,027,712
7,1 4 3,62 8
7,0 1 9,20 4
6,963,371
7,031,756
6,985,208
7 ,055,188
6,873,971
6,664,681
6,835,877
6 ,3 9 9,75 4
6,868,596
6,956,440

Circulation.
$1,0 11 ,0 3 3
1,046,545
1,062,192
1 ,096,462
1,293,046
1,559,218
1,686,689
1 ,808,734
1,916,352
2,077,967
2,140,463
2 ,2 9 6,44 4
2,647,399
2,675,193
2 ,484,150
2,408,421
2 ,329,617
2,406,482
2,351,709
2,410,181
2,436,527
2,406,568
2,387,886
2,365,435
2,389,252
2,431,181
2,422,411
2 ,548,945
2 ,514,345

Deposits.
$11 ,46 5 ,2 6 3
11,512,765
11,547,697
12,195 126
11,904,519
11,889,342
12,014,605
11,830,532
12,253,282
1 2,691,547
12,413,191
13,201,599
13,422,318
13,784,656
14,682,175
15,068,178
15,589,713
15,260,858
15,548,237
15,354,423
1 5,726,640
15,776,251
15,883,306
15,857,904
16,356,129
16,566,846
15,898,464
16,937,535
1 7,196,794

Dae banks.
4 ,453,304
4,349,676
4 ,414,160
4 ,173,710
3,531,721
2,967,933
2,776,665
2,645,662
2,726,124
2,782,085
2,849,730
2,94 5,185
3,056,181
3,178,855
3,071,603
2,804,095
2 ,610,000
2,754,973
3,055,076
8,221,858
3,211,889
3,380,477
3,565 213
3,504,300
3,101,201
2,986,297
3,369,430
3,351,204
3,291,107

Journal o f Banking, Currency, and Finance.
Aug. 2 ___
Aug. 9 . . .
Aug. 1 6 ...
Aug. 2 3 . . .
Aug. 3 0 ...
Sept. 4 . . .
Sept. 1 3 . . .
Sept. 2 0 . . .
Sept. 2 7 . . .
Oct. 4 . . .
Oct. 1 1 ...
Oct. 1 8 ...
Oct. 2 5 . . .
Nov. 1. . .

719

Loans.

Specie.

Circulation.

Deposits.

Due "banks.

24,524,569
24,542,291
24,829,767
24,913,526
24,843,181
24,988,251
24,903,328
24,972,044
25,138,137
25,248,410
25,242,857
25,436,147
25,225,000
25,463,417

7,070,145
6,882,660
6,375.520
6.605,882
6,476,406
6,635,856
6,704,753
6,853,374
6,909,985
7,139,461
7,102,950
7,261,211
7,361,906
7,581,340

2,505,278
2,634,652
2,522,540
2,505,899
2,460,645
2,520,501
2,572,275
2,597,781
2,591,549
2,677,116
2,804,030
2,748,492
2,728,580
2,642,004

17,633,780
17,054,076
16,929,656
16,848,980
16,961,496
17,426,777
17,138,243
17,264,823
17,609,605
17,506,426
17,224,619
17,239,952
17,241,249
17,390,903

3,234,866
3,176,333
3,378,351
3,421,217
8,446,195
3,370,165
3,405,537
3,187,622
3,020,702
3,244,940
3,465,323
3,380,724
3,445,086
3,655,971

NEW ORLEANS BANKS.

Short loans.

Specie.

Oct. 1 7 .. . $19,200,5S3 $3,230,320
Dec. 1 2 .. . 18,069,088
8,841,370
Jan. 2 . . . 18,149,456 10,505,183
9 . . . 14,873,404 10,626,260
1 6 .. . 14,804,320 10,592,617
2 3 .. . 14,559,131 10,693,330
3 0 .. . 14,674,217 10,844,246
Feb. 6 .. . 14,490,001 11,187,898
1 3 .. . 14,937,307 11,110,763
20. . 14,890,351 11,065,597
2 7 .. . 16,062,058 11,061,832
March 6 .. . 15,832,181 10,967,225
1 3 .. . 15,888,347 10,978,759
2 0 .. . 15,937,924 10,897,866
2 7 .. . 16,157,998 10,947,636
April 3 .. . 16,641,554 10,848,605
1 0 .. . 16,481,249 10,962,570
1 7 .. . 16,480,547 10,854,012
2 4 .. . 16,094,721 10,798,455
May 1. . . 15,933,046 10,892,453
8 . . . 15,459,435 10,615,530
1 5 .. . 14,958,401 10,478,675
2 2 .. . 14,772,173 10,394,638
2 9 .. . 14,250,529 10,299,135
June 5 . . . 13,521,534 10,257,171
1 2 .. . 12,82S,721 10,312,237
19. . . 12,374,123 10,208,900
2 6 .. . 12,390,984 10,423,080
July 3 . . . 12,291,555 10,676,674
1 0 .. . 12,116,486 10,755,126
1 7 .. . 11,981,985 10,877,768
2 4 .. . 11,985,231 10,936,870
3 1 .. . 12,011,616 10,992,148
Aug. 7 .. . 12,452,664 10,835,005
1 4 .. . 12,883,216 10,912,975
2 1 .. . 13,516,161 10,806,910
2 8 .. . 14,196,661 11,173,021
Sept.. 4 . . . 14,892,969 11,285,308
1 1 .. . 15,323,750 11,621,848
1 8 .. . 16,121,809 11,304,474
2 5 .. . 16,864,950 11,299,625
Oct 4 . . . 17,470,301 11,163,318
9 .. . 17,689,981 11,317,465
1 6 .. . 17,988,170 11,473,772
2 3 .. . 18,266,049 11,678,670
3 0 .. . 18,545,880 12,177,863




Circulation.

Deposits.

Exchange.

$6,196,459 $7,442,142 $2,297,348
4,148,869
9,993,370 2,838,878
4,535,951 11,948,905 4,114,622
4,778,539 11,754,593 4,675,028
4,797,746 12,323,808 5,095,771
4,767,816 12,573,173 5,201,368
4,803,071 12,678,696 5,249,136
5,037,906 14,539,408 5,934,781
5,100,916 14,368,835 6,624,657
6,254,181 14.640,976 7,124,477
5,524,209 14,894,714 7,628,252
6,005,769 15,201,909 7,919,605
6,299,957 15,421,499 8,220,000
6,654,434 15,765,084 8,776,621
7,068,240 15,792,554 8,880,798
7,572,094 15,453,850 9,147,709
7,692,634 15,658,182 9,321,352
7,685,539 15,640,948 9,035,522
7,828,399 15,589,151 9,221,277
7,945,334 16,681,593 8,754,140
8,023,429 16,386,529 9,159,848
7,972,599 15,035,182 9,418,151
7,954,829 15,096,528 9,184,271
7,916,858 14,648,164 8,899,170
7,965,484 16,007,989 8,269,260
7,943,819 15,464,347 8,533,964
7,645,844 15,714,302 8,720,257
7,323,034 15,676,134 8.110,788
7,962,959 16,013,100 7,890.863
7,671,824 14,114,217 6,970,157
7,452,104 14,078,294 7,427,930
7,334,414 13,864,925 6,348,192
7,231,739 15,262,173 6,053,229
7,135,389 15,200,271 5,844,132
7,024,587 13,564,756 5,263,035
6,860,289 13,164,598 4,652,889
6,731,599 13,343,938 4,081,875
6,828,889 14,636,311 S,S53,S26
6,853,324 13,684,268 3,855,010
6,704,604 13,682,634 3,654,192
6,638,594 13,931,777 3,890,649
6,722,197 16,161,514 4,899,449
6,802,860 15,373,011 6,657,057
6,902,184 15,647,690 6.165,398
7,004,259 16,181,041 6,775,262
6,985,839 17,315,282 7,415,987

Distant
balances.

$897,551
816,132
1,590.072
1,349,781
1,552,855
1,459,861
1,379,908
1,256,815
1,283,609
1,274,034
1,327,750
1,378,846
1,847,623
1,172,552
1,271,084
1,664,614
1,410,349
1,381,527
1,473,994
1,263,882
1,112,188
1,429,660
1,266,140
1,368,531
1,102,648
1,009,370
1,119,317
1,034,117
1,061,242
1,192,675
1,244,213
1,336,398
1,402,012
1,547,831
1,327,951
1,258,843
1,185,562
1,139,616
1,220,262
993,280
1,120,727
1,226,565
1,851,648
1,656,595
1,694,868
1,840,370

720

Journal o f Banking, Currency, and Finance.
PITTSBURG BANKS.

April.12 ............
1 9 ............
2 6 ............
3 ............
May
10............
1 7 ............
2 4 .............
S I ............
June 7 ............
1 4 ............
21............
2 8 ............
6 ............
July
12............
1 9 ............
2 6 ............
Aug. 9

Loans.
$ 5,513,821
5,6 1 1,68 9
5,7 8 4,49 2

5 ,769,868
5,895,461

5,874,782
6,014,676

6,016,404
6,077,608
6,009,453
5,975,321
7 ............
1 4 ............ , 5 , 9 4 0 , 4 5 1
21............
2 8 ______
6,008,461
5,985,766
S ept. 5 ............
6,056,234
1 3 ............
6,089,536
20............
6,054,505
2 7 ............
6,096,979
Oct.
4 ............
6,034,370
11............
6,075,227
1 8 ............
6,059,315
2 5 ............
6,039,272
1.............
N ov.
6,075,883
8 ............

Specie.
$1,1 94 ,2 3 2
1,220,633
1,221,195
1,192,216
1,171,627
1,191,663
1,175,334
1,212,178
1,207,637
1,218,342
1,223,759
1,266,195
1,246,588
1,229,883
1,249,398
1,256.026
1,198,767
1,236,485
1,257,921
1,266,621
1,257,173
1,261,195
1,273,341
1,272,874
1,302,584
1,445,575
1,481,217
1,571,879
1,543,958
1,324,219
1,322,359

8T.

Circulation.
$1,2 87 ,0 9 5
1,291,091
1,319,416
1,360,551
1,365,551
1,373,401
1,371,586
1,394,146
1,426,586
1,385,926
1,366,481
1,377,096
1,436,651
1,458,776
1,475,351
1,439,916
1.423,669
1,378,231
1,428,856
1,462,751
1,435,516
1,470,741
1,456,763
1,495,741
1,506,073
1,540,098
1,515,198
1,540,453
1,578,523
1,525,723
1,554,168

LOUIS BANKS.
Exchange.

Circulation.

1,161,065
1,250,295
1,369,316
1,494,025
1,547,988
1,548,531
1,557,119
1,471,190
1,459,735
1,417,340
1,523,179
1,445,704
1,490,876
1,494,116
1,487,256
1,531,723
1,609,067
1,695,299
1,766,798
1,734,169
1,848,603
1,970,955
2,083,244
2,016 967
2,696,873
2,198,824
2,179,916
2,141,285

1,793,945
1,832,915
1,240,431
1,864,960
1,825,810
1,921,475
2,087,890
2,101,405
2,161,985
2,005,505
2,246,835
2,260,560
2,190,955
2,161,870
2,159,540
2,079,225
1,932,160
1,882,625
1,943,735
1,975,760
1,928,710
1,650,430
1,525,180
1,452,893
1,463,690
1,398,925
1 ,556,780
1,515,975

April 10.............

M ay

June

17 ..........
2 4 ............
S .............
1 5 ............
22............
2 9 ............

5.........
12............
1 9 .............
2 6 ............

July

s .........
10.............

1 7 ............
2 4 ............
3 1 ............
Aug. 7 ............
1 4 ............
21............
2 8 ............
Sept. 4 ............
11............
1 8 .............
2 5 .............
Oct. 4 ............
9 ............
1 6 ............
2 3 ............
SO.............




Deposits.
Due banks.
$ 1 ,3 05 ,2 9 4
$70 ,23 6
1,345,062
87,713
1,404,750
84,171
1,504,549
40,3 12
1,585,182
74,491
1,491.620
111,260
1,464,767
124,044
1,467,849
88,896
1,540,926
90,334
1,556,862
108,994
1,571,589
134,480
1,630,570
125,743
1,699,196
85,698
1,691,7 o S
157,608
1,720.691
165,257
188,651
1,708,210
1,730,650
188,242
1,788,792
136,835
57,411
1,818,617
1,887,579
182,413
1,884,917
181,392
1,858,072
142.215
1,916,852
162,709
1,S42,590
159,734
1,835,375
178,532
1,90S,049
138,940
1,913,592
124,605
1,878,953
154,592
1,940,501
179,738
1,924,691
168,676
1,985,183
188,122
Specie.
$1,673.628
1,720,728
1,770,882
1,959,823
2,161,503
2,225,285
2,396,027
2,452,141
2,536,707
2,465,372
2,434,898
2,320,758
2,315,635
2,322,245
2,238,498
2,169,387
2,108,988
2,081,197
2,026,841
2,043,783
1,995,812
1,885,317
1,708,042
1,668,182
1,736,080
1,596,631
1,549,076
1,522,221
1,689,802

Journal o j Banking, Currency, and Finance.

721

PROVIDENCE BANKS.

J an .

Loans.
$17 ,70 1 ,7 2 5
16,925,349
17,037,919
17,169,822
17,203,225
17,054,877
17,060,695
17,345,487
17,653,908
17,8 7.068
17,780,220
17,121,639
17,685,831
17,784,851

1 1 .........

Mar. 1 5 ........
5 ..........
1 9 .........
May 3 ..........
1 7 ..........
J u n e 7 ..........
June 2 1 ..........
J uly 5
,
J u ly 1 9 ..........
A u g . 2 .........
Sept. 6 . . . .
Oct. 4 ______
Nov. 1 .........
A p r.

Specie.
$ 5 5 5 ,6 5 3
5 20,828
591861
6 6 4 .03 3
666 869
5 67,024
577 ,86 3
573,317
5 23,691
4 6 6 ,26 6
4 44,165
175,635
411,331
4 3 6 .8 5 4

Circulation.
$1,5 52 ,8 2 2
1,310,787
1,409,695
1,483,226
1,393,553
1,451,356
1,555,717
1,604,850
1,810,047
2,039,911
1,921,812
1,420,455
1,898,902
1,920,530

Deposits.
$2,0 25 ,9 5 6
1,903,082
1,946,998
1,965,316
2,068,335
2,062,597
2 ,088,873
1,988,496
2,402,956
2,079,183
2,022,092
935 ,59 3
2,100,328
2 ,339,930

Due oth. b'ks
$ 1,386,485
1,043,930
1,080,817
996,961
1,089,333
1,131,176
1,208,543
1,170,711
1,010,101
1,145,364
1,095,396
958 ,24 2
893,863
1,068,233

PROGRESS OF W EALTH IN CONNECTICUT,

News r e m a r k s :— B y c o m p a r is o n o f th e g r a n d lists of
and 1857, a period of ten years, we learn that the increase has been for—

1847

Inc’se
r>. ct.
6»l
105
SO
62
59
42
34
32
23
366
202
200
184
179
160
159
146

Inc’se

The N ew H aven

1847.

1857.

The S ta te.. . $4,427,589 $7,165,658
N. Haven Co.
735,756 1,511,862
Fairfield Co..
693,153 1,245,562
Hartford Co..
920,131 1,491,297
N. London Co.
9-16,912
596,327
Middlesex Co
332,573
470,963
Litchfield Co.
584,322
782.948
Tolland C o ..
220,900
291,757
Windham Co.
344,407
424,357
Water b u ry..
33.343
155.437
Meriden . . . .
31,217
94,132
Stamford . . .
40,689
122,159
Bridgeport...
84,431
239,959
Naugatuck...
13.692
38,227
New Haveu..
267,422
670,032
Derby, e tc . . .
35,091
90,895
Stonington...
50,798
124,776

1847.
New Loudon . .
Hartford, e tc ...
N o rw a lk .........
Winchester. . . .
N Britain, etc..
(trot o n .............
Darien..............
W estport.........
Portland..........
Say brook, e t c ..
Fairfield..........
Enfield..............
Reading............
D mbury. e tc ...
Plymouth.........

1857.

176,437 $181,591
274,987 632,440
43,402
99,226
26.236
59,404
47,119
99,970
30,894
65.273
15,9.38
30,839
32.316
61,923
23,074
44,154
36J63
66,494
38,175
70,208
64,151
96,390
46,034
80,953
23,459
39,631
71,938 119,224
30,044
48,800

138
130
129
126
112
111
94
92
91
84
84
78
76
69
66
63

Greenwich, New Canaan, Stratford, Norwich, New Hartford, and Stafford
have increased from fifty to sixty per cent. Ashford, Bristol, Canaan, Canton,
East Haven, Killingly, Madison, Middletown, Salisbury, Windsor, and Windsor
Locks have increased about fifty per cent.
The following have decreased :— Bloomfield, Canterbury, Franklin, Hampton,
Harwinton, Monroe, North Branford, Preston, and Westbrook.
LOSSES BY BANK FAILURES IN GREAT BRITAIN!
Public.

1836..
1837..
1840..
1841..
1842..
1844..
1845..
1846..
1847..
1848..

388,000
1,100,000
1,179,972
926,000
162,897
107,000
35,500
113,625
1,170,000
77,000

Shareholders.

Total.

l,ooo,ooo
130,000
1,270,000
474,001)
1,626,125
70,000
17o,000
278,000
1,466,709
1,250,000

1,388,000
1.230,000
2.44 9,972
1,400,00 '
1,788.622
177,000
205,500
391,625
2,634,709
1,827,000

V O L . x x x i x . -----N O . V I .




1819..
1850..
1851..
1852..
1 855..
1856..
1857..

40

Shareholders

Total.

800,000
1,590,000
700,000
80,000
160,000
586.000
6,871,632

l,20u,000
1.608,498
1,050,128
80,000
1,070,864
1,309,375
7,6S9,632

910,864
723,375
818,000
—

Total.

Public.

400,000
18,498
S5U,128

—

8,480,359 18,522,466 27,002,826

722

Journal o f Banking, Currency, and Finance.
BANKS OF NEWARK, NEW JERSEY,

The following is a comparison of the statement of the Newark, New Jersey,
banks, for October 1,1857 and 1858 :—
LIABILITIES.

Capital..................................................................
Circulation.............................................................
Due depositors.......... ...........................................
Dividends unpaid..................................................
Due other banks...................................................
S u rplu s.................................................................

October, 1858.
$1,858,650 00
734,871 00
1,526,799 29
28,581 63
331,711 20
884,565 62

October, 1857.
$1,828,650 00
588,882 00
1,054,070 90
21,961 88
259,718 10
348,681 63

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

$4,865,178 74-

$4,131,964 51

ASSETS.

Specie.....................................................................
Due from other banks........................................
Notes, etc., o f other b a n k s................................
Heal estate............................................................
Other assets.........................................................
Notes discounted, good........................................
T o ta l...................

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

$175,546
379,842
109,831
88,442
21,487
4,089,670
358

27
05
64
88
50
50
50

$4,865,178 74

$165,988
363,180
152,323
66,806
26,564
3,358,154

77
86
50
68
78
92

$4,131,964 51

LIABILITIES AND ASSETS COMPARED.

Total liabilities......................................................

$2,641,963 12

$1,924,632 88

Cash resources....................................................
Bills discounted, good ........................................
Keal estate, etc....................................................

$685,707 46
4,089,670 50
88,442 28

$707,002 91
3,358,154 92
66,806 68

Total resources.............................................

$4,863,920 24

$4,131,964 51

Increase of liabilities o f October, 1858, over October, 1857 .........
Increase of assets................................................ ..............................
Increase o f discounts.......................................................................... ..

$717,330 24
731,955 73
731,516 58

ST, LOUIS VALUATION AND TAX.
The valuation o f property and assessment o f taxes in the city are just com-

pleted, and from the returns in the Auditor’s office we are courteously furnished
the following results :—
Value of lots................................................................................................
“ improvements.............................................................................
“ machinery.....................
“ m on ey.........................................................................................
“ stock in banks, railroads, and steamboats..............................
“ notes, bonds, and bills...............................................................
“ negro slaves (9 2 9 )....................................................................
“ horses and m u les......................................................................
“ ca ttle...........................................................................................
“ carriages......................................................................................
“
furniture and pianos.............................................................7.
“ libraries........................................................................................
“ gold and silver plate.................................................................
“
clocks and watches....................................................................

$53,895,873
17,941,427
1,010,155
876,902
4,658,144
2,014,076
456,655
449,680
58,356
114,250
918,8S3
17,150
57,393
188,095

Total value.........................................................................
Total tax assessed..............................................................

$82,160,449
756,150




723

Journal o f Banking, Currency, and Finance.
DEBT OF THE CITY OF ALTON, ILLINOIS.

The Mayor of Alton, Illinois, in his message, gives the following account of
the finances:—
Estimated receipts for year....................................................
Estimated payments.................................................................

$56,650
49,472

Balance..........................................................................

$6,178

STATEMENT OF AMOUNT OF BONDS OUTSTANDING.

Amount.
Interest.
10 bonds issued on account of Alton and St. Louis Railroad,
and not exchanged........................................................... $ 1 0 ,00 0 00
107 bonds issued and exchanged for old Alton and St. Louis
Railroad bonds, arid for funded interest due 1876 ___
103,700 00 $6,8 22 00
6,000 00
Bonds issued on account of Terre Haute and Alton Railroad 100,000 00
Due September 13, 1858— bonds issued for purchase of cem­
2,840 18
284 00
etery and poor-house land.......................................................
Due May 1, 1859— bonds issued to A. W. Long for improve­
344 00
41 28
ment of Ninth-street.................................................................
1,000 00
Due May 1, 1859— bonds issued for grading of Henry-street
8 0 00
Due May 1, 1859— bonds issued on account of grading Alby961 18
76 89
street...........................................................................................
Due January 1, 1861— bonds issued on account of grading
1,003 60
80 28
Henry-street...............................................................................
Due May 1, 1861— bonds issued on account of grading Alby961 18
street...........................................................................................
76 89
Due January 1, 1860— bonds issued on account of City-hall
4 ,5 0 0 00
and market-house.......................................................................
4 5 0 00
2,000 00
200 00
Due January 1, 1861— bonds issued on same account............
3,600 00
350 00
Due January 1, 1862— bonds issued on same account............

Total

$23 0 ,8 1 0 14 $14 ,46 1 34

TAXABLE PR O P E R T Y OF SAN FRANCISCO.

The following is an official abstract from the Auditor’s duplicate of the foot­
ings of the assessment books of the city and county of San Francisco for the
current fiscal year, commencing on the 1st day of July, 1858 :—
Real estate..................................................................................
Improvements thereon..............................................................
Personal property......................................................................

$13,554,565
6,946,585
11,224,800

Total assessments, 1 8 5 8 -6 9 ....................................................
Total assessments, 1 8 5 7 -5 8 .....................................................

$ 30 ,72 5 ,9 5 0
3 5,897,176

Decrease on the present year

$ 4 ,6 71 ,2 2 6

The rates of taxation, as well as the aggregate amount of the taxes to be col­
lected on the foregoing assessments, are given in the subjoined table :—
For State purposes.................
For city and county expenses.
Free common schools.............
Funded debt o f 1 851................
Funded debt o f 1 8 5 8 ................
T o ta l...........................

Rate.
$0 60
1 25
0 35
0 63i
0 25

Taxes.
$ 18 4 ,3 6 2
384,074
107,540
195,109
76,8 14

$3 0 8 *

$94 7 ,8 9 2 55

70
37
82
76
90

The collection of taxes commences on the third Monday in September, and
they become delinquent on the third Monday in October.




724

Journal o f Banking , Currency, and Finance.
CONDITION OF THE BANKS OF MAINE,

The following table represents the aggregate condition of the banks of Maine
as they existed “ on the afternoon of Saturday preceding the first Monday in
September ”
Capital stock...........................................................................................
Bills in circulation...................................................................................
D eposits..................................................................................................
Amount due to other banks..................................................................
Specie........................................................................................................
Loans........................................................................................................
Amount due from other banks............................................................
Bills issued...............................................................................................
Amount o f unsigned bills on hand.......................................................

$7,364,475 00
3,397,597 00
2,522,597 24
91,089 83
627,302 76
11,132,31181
1,662,568 55
9,712,899 00
3,661,812 00

DEBT OF TENNESSEE,

In the Merchants' Magazine for April, 1858, page 469, will be found the
amount of bonds issued according to Governor Johnson’s message. The Con­
troller has made a report to October 1, 1858. A recapitulation of the debt is as
follows
RECAPITULATION OK TENNESSEE DEBT.

1. Six per cents of State to railroad............................................................
2. Indorsed six per cents of railroad.............................................................
3. Indorsed six per cents of Memphis..........................................................
4. Old debt of State:—
For bank capital (self-supporting).....................................
Internal improvements, A c.....................................................................

$6,049,000
2,200,000
350,000

Total of all obligations....................................................................

$12,664,000

1,125,000
2,940,000

The nature of the debt is as follows :—
1.
The regular six per cent coupon bonds of Tennessee, the same now dealt in
at the New York Stock Exchange, run 40 years from date, and fall due from
1890 to 1896-7. They amount to §6,049,000, and are a loan upon 604 miles
finished railway, within the State boundary, to the railway companies, and con­
stitute a first and only mortgage lien, to the extent of §10,000 per mile. The
primary obligation to pay the interest is upon the companies, but the State has
made it her first duty to provide the interest with promptness, at the Merchants’
Bank in New York, July 1 and January 1. The Bank of Tennessee is the fiscal
agent for this purpose, and to collect in turn the interest from the railways.
2. The State has indorsed to certain other railways, finished and in operation,
§2,200,000, 6 per cents, due in 1882-85, being the first and only mortgage lien
upon 220 miles within the State. 3. The State, to enable the city of Memphis
to aid the Little Rock Railroad Company to build thirty-five miles from the
Mississippi River, immediately opposite the city, through the delta or swamp
lands of Arkansas, has indorsed §350,000 six per cent city bonds due in 1885.
The bonds constitute also a lien upon the road. Four year old or miscellaneous
public debt is in §1,000,000 six per cents for capital in the Bank of Tennessee,
due 1868. In §889,000 six per cents for the erection of the new capitol and the
purchase of the Hermitage estate. In §125,000 five per cents for capital in
Union Bank of Tennessee, due 1863. And in §2,051,000 five and five-and aquarter per cents in aid of the old internal improvements of 1838-44, due 20
years from date.
The railways within the State are generally free of all other liens than the first
mortgage on to the State. Five years after the aid is rendered they are bound
to contribute two per cent a year of the principal by way of sinking fund. Of
the remainder of this fund, the Controller writes, October 1, 1858 :—
“ it may not be improper to state that the year just closed is the first one of




Journal o f Banking , Currency, and Finance.

725

operation, under the act of 1856, creating a sinking fund for the ultimate redemp­
tion of the bonds loaned to, or indorsed for, railroad companies. The act re­
quires two per centum per annum of the bonds loaned or indorsed by the State
to be paid into the treasury, alter five years from their issuance or indorsement,
as a sinking fund with which the Governor, Controller, and President of the
Bank of Tennessee, as Commissioners, shall purchase the said bonds, and re-invest
the accruing interest in like securities. All the railroads from which the 2 per
centum was due have promptly met the calls, and the fund has been invested in
forty-four State and indorsed bonds for §1,000 each. This promptness in the
beginning, during a season of embarrassment, and when many of the roads were
in an unfinished condition, augurs well for a system which will annually yield an
increased and increasing fund that will, if adhered to, ultimately redeem all the
bonds, issued or indorsed by the State, before their maturity. Whatever may
have been thought as to the policy of undertaking, at once, so grand a system
of internal improvements in Tennessee as we have in operation and in progress,
there can be no doubt as to the wisdom of this measure. It requires the rail­
roads to pay annually so small a per centum upon their indebtedness, or the
State’s for them, as will not embarrass them, but finally extinguish the whole of
it before it becomes due, leaving the State without debt for these works, with
her numerous lines of railroads traversing every important section of her territory,
paid for, and with no tax upon the wealth or industry of her citizens to sustain
them.”
RESUMPTION OF CASH PAYMENTS BY THE NATIONAL BANK OF AUSTRIA.

The order to resume cash payments has caused much money pressure in Europe,
and a raise in the rate of interest, with some distrust in Vienna. The following
is the Imperial Decree for enforcing cash payment by the Austrian Bank :—
IM PERIAL DECREE OF AUGUST

30,1858, VA LID

FOR ALL THE AUSTRIAN CROWN LANDS,

W ITH THE EXCEPTION OF THE LOMBAItDO-VENETIAN KINGDOM.

As a preparatory measure to the complete realization of the Currency Conven­
tion of January 24, 1857,* and particularly of article 22 of the same, I, after
having taken the counsel of my ministers, and having heard the opinion of my
Council of the Empire, do ordain—
1. That from November 1, 1858, the privileged Austrian National Bank shall
only issue notes of 1,000 florins, 100 florins, and 10 florins in (the new) Austrian
currency. The bank, however, is at liberty to make use of such notes before the
1st of November, 1858.
2. The Austrian National Bank is bound, on the demand of possessors, to pay
to them at all times the full value of notes in the new Austrian currency.
3. At least one-third of the notes in Austrian currency which may be in
circulation must be covered (bedeckt) by means of lawful silver coin or silver
ingots, or, under certain circumstances, and with the consent of my Minister of
Finances, by gold coin or gold ingots. The remainder (of the notes) must be
covered by means of legally discounted bills of exchange, or by stock on which
advances have been made.
4. The notes in Austrian currency must not only be accepted at all the public
treasuries—which privilege is secured to the notes of the National Bank by
paragraph 1, of the patent of July, 1841—but every one will be bound to take
them at their full nominal value in all cases in w'hich payments are to be made
in the Austrian currency.
5. In the same proportion as the Austrian National Bank issues notes in the
Austrian currency it will draw in the notes in conventional currency which are
now in circulation. In the mean time these latter are to be accepted in payment,
(are to be legal tenders,) agreeably to paragraphs 10 and 13 of my patent of the
27th of April, 1858.
6. It is determined that the 1,000 florins in conventional currency shall be




* With the German States.

726

Journal o f Banking, Currency, and Finance.

called in and cease to be in circulation by the 30th of June, 1859 ; the 100 aDd
the 50 florin notes (0. 0.) by the 3lst of August, 1859, and the 10 florin notes
(C. O.) by the 31st of October.
7. The 5, 2, and 1 florin notes in conventional currency are to be reduced to
100,000,000 florins as speedily as possible. The time at which they will be
called in, and entirely withdrawn from circulation, will be fixed at a future period.
8. A committee of three bank directors—to be appointed by the Direction—and the Imperial Commissary will co-operate, and see that the instructions con­
tained in paragraphs 3, 5, and 7 are strictly observed.
9. At the end of each month the amount of the different notes of the Austrian
National Bank which may be in circulation is to be made public, as also the
security for them (bedeckung,) of which mention is made in paragraph 3.
EEANCIS JOSEPH MAHEEB.
B aron V on B ruce .

BAMS OF SWITZERLAND IN 1857,

Bank in Z urich ............................. Zurich. . . .
Leu und Comp. Hypothekenbank.Zurich.. . .
Caritonalbank von Bern................ Bern...........
Bank in L u zern *......................... Luzern___
Barik in Glarus.............................. Glarus.......

When
formed.
1837
1854
1833
1857
1852

Bank Cantonale Fribourgeoisef..Freiburg..

1850

1,000,000 |

Bank in Basel. ............................. Basel. . . .
Basellandschaftl Hypothekenb’k^Liestal . . .
Bank in St. Gallen.........................St. Gallen.
Aargauische B a n k §..................... Aarau.. . .
Thurgauische Hypothekenbank . Frauenfeld.
Bank Cantonale Vaudoise[.........Lausanne..
“
Neufchateloise . Neuenburg
“
du Commerce.. .G enf...........
“
de Geneve......... Genf...........
Comptoir d’escompte.................... Genf...........

1845
1849
1837
1855
1851
1846
1855
1 S15

2,000,000
500,000
3 ,063,540
2,000,000
1,500,000
2,900,000
1,000.000
3,100,000
2,000,000
1,500,000

1855

Total capital

Bank in Zurich................................
Leu und Corap. Hypothekenbank.
Cantonalbank von B e rn ...............
Bank in Luzern...............................
Bank in G larus..............................
Bank Cantonale Fribourgeoise. . .
Bank in B asel................................
Basellandschaftl Hypotbekenba’k
Bank in St. G a llen .......................
Aargauische Bank.........................
Thurgauische Hypothekenbank..
Bank Cantonale Vaudoise............
“
Neufchateloise..
“
du Commerce . .
“
de Geneve..........
Comptoir d’escompte.....................
T o ta l.....................................

No. o f
shares.
6,000
19,568
....
2 50
1,000
1,350
250
800
1,250
3,000
10,000
3,000
2,500
2,000
3,100
2,000
1,500

Value,
francs.
4 ,0 0 0
500

....
2 ,0 0 0
500
500
100
5 ,0 0 0
400
1,060
200
500
580
500
1,000
1,000
1,000

4 0 ,4 72 ,5 4 0
Bank note
emission,
francs.

Average
circulation
of notes,
francs.

3,768,403|

2,169,629

869,800
250,000
750,000
304,560
1,500,000

687,074
115,050
527,000
267,623
714,452

2,205,850
400,000
500,000
3,000,000
2,000,000
2,980,000
1,510,000

1,637,508
276,226
388,390
2,415,871
1,105,590
1,931,700
900,000

20,028,613! 13,136,113

* Of the capital, 25 per cent paid in.
t The State holds 300,000 francs of the capital.
X Capital 4,000,000 francs ; paid in 12's per cent.
§ The capital has been increased 1,000 shares, not yet paid.
1 Half of the capital belongs to the State.




Capital,
francs.
6,000,000
9 ,784,000
3 ,500,000
125,000
500 ,00 0

Reserve
fund,
francs.

Fer
cent o f Div.
capital, p. c t

297,000 00
989,692 86

4.95
10.11

625
23,000
47,080
79,496
64,416
308,878
44,000
85,150
438,240
13,600
201,500
55,013
98,663

0.50
4.60
4.70
4.
10.88
10.08
2.20
5.67
14.60
1.36
6.50
2.75
6.53

...........

00
00
95
31
04
69
00
80
87
00
00
90
50

.....

6.
5.
5.49
5.
8.
7.60
8.20
6.37
6.88
6.

5.66
8.
6.60
6.90
7.
7.66

Statistics o f Trade and Commerce.

727

FINANCES OF VERMONT,

The report of the Auditor of Accounts for the State of Yermont shows that
the balance in the treasury on the first of September, 1858, was §30,643, and
that the amount of taxes uncollected was §60,259, making together the sum of
§90,891 as the immediate available resources of the State, and that the indebted­
ness of the State, including orders unpresented, the bank safety fund, and the
sums due to towns for United States surplus money, was $143,904, exceeding
the current available resources by the sum of §53,012. Of this condition of
finances Governor H a l l , in his message, says :—
It is to be observed that there has been expended in the construction of the
new State House the sum of $61,127, and that but for this extraordinary ex­
penditure, made necessary by the accidental destruction of the old edifice, the
sum in the treasury and the assessed taxes would exceed the State indebtedness
by about the sum of $8,000. The policy of the State from its first organization
has been against the creation of a permanent State debt. Extraordinary and
unexpected calls upon the treasury, like that now requiring the construction of
a new capitol, have occasionally been provided for by temporary loans, but pro­
vision for their speedy payment has always heretofore been made. This policy
has had a strong tendency to produce a judicious economy in our expenditures,
and 1 trust is not to be departed from.

STATISTICS OF TRADE AND COMMERCE.
EXPORTS OF COTTON FROM THE UNITED STATES TO FOREIGN COUNTRIES,

The following table, showing the quantity and value of cotton wool, the pro­
duct of the United States, exported to each foreign country during the years
1855, 1856, and 1857, has been compiled from the annual reports of the Secre­
tary of the Treasury :—
,------ Exported, 1855.-------. ,------ Exported, 1856.-------, ,------ Exported, 1857.-------,
Bales.
Value.
Bales.
Value.
Bales.
Value.

Great Britain. 1,633,143 $57,616,749 1,986,789 $85,179,143 1,474,199 $85,101,316
470,293 19,035,423 482,254 21,195,516
France.............
379,051 22,263,170
82,198
S p a in .............
3,320,134 133,021
5,850,517 104,058
6,165,961
Bremen...........
53,648
2,020,438
103,054
4,238,497
71,165
4,356,418
33,536
Sardinia.........
1,288,387
39,747
1,596,757
36,794
1,967,522
Mexico.............
744,519
24,946
25,947
628,053
20,269
999,747
A ustria............
18,132
751,622
40,149
1,724,599
16,137
952,924
H am burg___
18,672
761,572
34,192
1,469,753
22,720
1,311,935
19,363
741,278
37,624
Swed. & Norw.
1,652,049
21,393
1,249,042
B elgiu m .........
28,858
1,042,434
50,279
2,198,060
24,218
1,420,035
7 712
136
H olland..........
11,423
418,433
28,789
1,252,242
21,862
1,283*328
Russia.............
1,025
10,585
48,647
514,161
69,832
4,267,234
..........
...... ..........
Prussia...........
. ...
50
3.674
I ll
4,804
Two Sicilies...
5,060
238,213
1,275
71,806
2,423
154,635
Other places..
8,363
349,414
17,716
644,761
Total........... 2,303,403 $88,143,854 2,991,175 128,382,351 2,265,558 131,575,859
Whole quantity exported in 1865......... .............lbs.
U
“
1856.........
U
“
1857.........

1,008,424,601
1,361,431,827
1,048,281,475

$88,143,844
128,382,351
131,575,859

Whole quantity in three years......................

3,408,137,903

$348,102,054




728

Statistics o f Trade and Commerce.
GENERAL STATISTICS OF THE WEST INDIES.*§

EXHIBITING

THE AREA, POPULATION, COMMERCE, REVENUE, ETC., OF EACH GOVERNMENT

FOR THE YE AR

1855.

COMPILED FROM OFFICIAL AND OTHER AUTHENTIC SOURCES BY

RICHARD S. FISH ER.
AREA AND POPULATION.

Area,
Pop. to
PopGovernments.
sq. miles. Population. sq. mile.
Capitals.
illation.
Hayti...................... .Empire.. 10,081
572,UOO
5 6 .7
Port au Prince . 12,000
Dominica................ .Republic 17,609
136,700
Santo Domingo. 10,000
7 .7
Cuba...................... .Span. col. 47,-278 1,449,462
3 0 6 Havana.............. 126,000
M
Porto R ico.............
8,865
562,134
1 4 5 .4
S. Juan Bautista 16,000
Berm udas............. .Brit. col,.
20
11,092
5 5 4 .6
St. Georgetown.
2,000
U
Bahamas .............
5,094
27,519
5 4 Nassau...............
8,000
((
Turk’s Island* . . .
430
4,428
1 0 .3
«(
6,510
58 1 Spnnishtown.. . .
6,000
378,193
Jamaicaf................
it
Trinidad................
2,020
68,645
3 3 .9
Puerto d’ Espana 12,000
((
Tobago...................
144
Scarboro’............
13,208
9 1 .7
1,500
Granada %...............
155
32,671
St. Georgetown.
2 ,000
2 1 0 .4
cc
St. V in cent...........
132
Kingstown.........
5 ,000
30,128
2 2 8 .3
M
Barbadoes .............
166
Bridgetown.......
135,939
8 1 8 .9
22,000
U
St. Lucia................
296
Castries..............
3,000
24,516
8 2 .8
it
Dominica................
274
22.061
8 0 .5
Roseau..............
5 ,000
Montserrat.............
1,500
47
Ply mouth..........
7,653
1 6 2 .9
«
Antigua..................
108
St. John’s ........... 15,0 00
37,757
3 4 9 .6
tc
68
St. Christopher___
Basse-Terre.. . .
8,000
23.177
3 4 0 .8
Nevis....................... .
“
21
9,601
Charlestown . . .
2,000
4 5 7 .2
<
(
Barbuda§ ..............
72
1,707
2 3 .7
«
Anguilla.................
34
3,052
9 0 .9
“
3 ,000
Virgin Islands.. . .
92
Tortola...............
6,689
7 2 .7
GuadaloupeJ.........
4 ,0 0 0
631
154.975
Basse-Terre. . . .
2 4 5 .6
“
6,000
Martinique............
382
121,478
3 1 8 .0
St. Pierre ............
Curacoa^f..............
244
22,063
90 4 ]1
“
St. Eustatius..........
8,000
97
1,932
1 9 .9 s Wilhelmstadt...
St. M artin*** Saba.
28
4,502
1 6 0 .8 '1
St. Thomas.............
13,666
27
5 0 6 .1 ]1
((
Santa Cruz ...........
6,000
78
23,729
3 0 4 .2 - Christianstadt...
u
St. John..................
22
2,228
1 0 1 .3 ]1
St. Bartholomew ... .Swe. col..
25
1,000
9,000 3 6 0 .0 La Carenage... .
T o t a l .............

96,050

3,911,905

4 0 .7

COMMERCE -WITH THE UNITED STATES.

—186S.- - - - - - - - - \ ,- - - - - - - - - - - 18§7.—
Exports from
United States.

Hayti...................................
Dom inica...........................
Cuba.....................................
Porto Rico...........................
British West Indies...........
French West Indies . . . .
Dutch West Indies............
Danish West In dies.........
Swedish West Indies........
Total............................

5 ,021,143
409,701
2 40 ,25 6
888,464

Imports into Exports from Imports into
United States. United States. United States.
$ 2,290,242
$2,474,487
$2,5 31 ,6 6 4
109,874
141.038
44,319
45,243,101
18,625,339
14,923,443
5 ,748,600
2,475,998
1,935,474
2,653,698
1,518,670
5,084,916
59,689
731,143
44,434
5 1 8 ,25 4
438,841
386,296
221 ,55 9
1,516,695
225,308
12,082
79,933
32,229
$ 2 5 ,9 7 6 ,3 4 4

$27 ,23 3 ,8 8 3

$ 5 6 ,91 7 ,0 9 9

* Including the Caicos Islands,
t Including the Cayman Islands.
X Including the Grnnardines.
§ Belongs to the Codrington family, being the only British colony remaining in private hands.
11 Including its dependencies Marie-Galante, Desirade, and the north part o f St. Martin.
Including Bonaire, Aruba, etc.
** South part of St. Martin only belongs to Holland. The whole island has an area o f 33 square
miles and 6,612 inhabitants.




Statistics o f Trade and Commerce.

.

729

COMMERCE AND FINANCES.

Exports.
H a y li..................................
Dominica...........................
Cuba....................................
Porto I lic o .........................
Bermudas...........................
Bahamas.............................
Turk’s Island..................... jJamaica...............................
Trinidad..............................
Tobago................................
Granada..............................
St. Vincent.........................
Barbadoes...........................
St. Lucia.............................
Dominica...........
Montserrat...........................
A ntigua..............................
St. Christopher...................
N e v is ..................................
Anguilla.......... ..................
Virgin Islands...................
Guadaloupe.......................
Martinique..........................
Dutch West Indies...........
Danish West Indies...........
Swedish West Indies........

Revenue.
$1,136,800
374,516
13,447,584
2,500,000
79,253

659,974

119,847

131,294

2,017,609
579,024
2,795,334
508.237
261,534
40,070
562 051
105,438
728,863
101,237
1,886,792
389,389
481,393
79,652
262,541
53,272
44,814
16,096
855,382
127,892
539,826
106,434
104,667
21.262
With St. Christopher.
22.517
11,734
5,113,926
464,925
3,981,715
364,434
96,196
631,496
4,654,781
286,782
257,311
f 22,600

1,057,193
505,083
40,070
90,221
104,266
358,401
81,578
64,437
15,941
122,035
106,434
21,102

347,610
1,904,364
883,984
4,729,249
390,773
72,674
1,078,249
665,444
28,734
5,097,687
4,987,315

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

Expenditure.
$1,308,040
291,116
*13,447,584
•(■2,500,000
81.941

Imports.
$5,927,456
1,391,266
31,394,578
6,073,870
601,939

$71,251,635

$21,032,674

11,734
464,925
363,434
186,821
286,782
f 22,600
$21,665,032

RECEIPTS OF TEXAS SUGAR AT GALVESTON.

The Galveston Civilian remarks :—•
The rise and reverses of sugar production furnish a singular feature in the
history of the planting interest of Texas. As our past reports show, the receipts
of Texas sugar at this port in 1850 were within a fraction of 3,000 hhds. In
1854 and 1855 each, the amount was nearly 5,000 hhds. For the commercial
year ending August 31, 1855, the amount was 5,375 hhds. For the year ending
August 31, 1856. it was 7,570 hhds., while for 1857 it amounted to only 124.
For the year just closed the amount is 505 hhds. and 41 tierces, with 3,626 bbls.
molasses. A more striking instance of the almost entire destruction of a crop
can scarcely be found. The prospect for the coming season is better; but the
crop must still be far short of any from 1853 to 1856, inclusive. The receipts
of Texas sugar and molasses at this port for the calendar years named below
were as follows, the year ending December 31 :—
Molasses,
bbls.
1 850 .................
1 8 5 1 ................. ............
1852 ................. ............
1853 .................
1854 .................

1.9U9
2,576

Sugar,
hhds.
2,782
1,036
1,329
4,076
4,754

Molasses,
bbls.
1855
1856
1857
1858

.................
.................
................. _______
................. ............

. . . .

3,626

Sugar,
hhds.
4,731
7 ,570
124
505

The receipts at this port, however, were not the criterion of the whole crop,
much of which was disposed of for home consumption in the markets of the in­
terior. The entire crop of 1852-3 was 16.023 hhds.; that of 1853-4 was 9,873 ;
that of 1855-6 was 7,512, and that of 1856-7 probably less than 500. For the
year just over it does not exceed 800 hhds., while the prospect is again unfavor­
able.
♦ Including surplus sent to Spain.




+ Estimated.

730

Statistics o f Trade and Commerce.
UNITED STATES TRADE WITH RUSSIA.

GOODS IMPORTED IN AM ERICAN AND FOREIGN VESSELS FROM THE UNITED STATES TO
ST. PETERSBURG IN

1857.

AM ERICAN VESSELS.

No.
vessels. Tons.

Where from.
New Y ork.............
Boston....................
Charleston.............
Savannah..............
Mobile....................
New Orleans......... .
Havana..................
England................ .

3
4
2
2
5
15
2
2

1,738
2,094
1.202
1,182
4,410
12,448
904
930

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

35

24,928

Cotton,
Sugar, Logwood, Fustic,
poods.
poods.
poods, poods.
___
30,166
41,362 2,773
14,076
3,204
___
53,109
56,073
___
311
___
53,443
___
177,327
___
539,515
___
........... 67,346
ballast.
870,597

70,550

Sapan- Lignum
wood, vitse,
poods, poods.
1,575
___
1,260 2,085

94,882

2,773

2,835

2,085

7,059
6,456

1,203
....
....
. ..

2,550
....
....

628
....
....

108,397

3,976

5,385

2,713

FOREIGN VESSELS.

New Y ork.............
Boston....................
Mobile....................
New Orleans.........
Grand total.. .

1
1
1
2

174
188
666
948

40

26,904

...........
105
25,907
35,398

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

932,007

70,550

AM ERICAN VESSELS.

Where from.
New York.............
Boston....................
Charleston ...........
Havana..................

Mahog- Dyewood Sarsaany,
extract, parilla, Eice,
poods. jioods. poods. poods.
..............
5,695 1,148
. 7,058
444 1,586
.
....
....
4,054
....
...........................................

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

7,058

6,139

2,734

4,054

Car
wheels,
poods.
3,200
4,336
....

MaCigars, chinery, Eosin,
pieces. cases. bbls.
8 ....
.
16 . . . .
......... . . . . . . .
1,106,276
....

7,536

1,106,276

24

....

65
14

....

FOREIGN VESSELS.

New Y ork............. ..............
Boston....................
224
Grand total.. .

7,282

8,126
289

554
1,172

1,328
400

1,388
1,479

.

14,554

4,457

5,782

10,403

1,106,276

103

304
304

— From New York, 25 packages sundries ; from Bos­
ton, 3 packages sundries, 53 indigo; from Mobile, 3 bags pecan-nuts ; from Ha­
vana, 1 package sweetmeats.
I n F o r e ig n V e s s e l s .— From Yew York, 7 packages sundries; from Boston,
' 630 poods lima wood, 651 furniture-wood, and 4 packages sundries.
In A

m e r ic a n

V

esse ls.

SPIRITS CONSUMED ANNUALLY IN GREAT BRITAIN.

The following statement shows the progress of the quantity charged at each
period for the United Kingdom
England.
1 8 2 6 ................................................ galls.
1 8 3 6 ..........................................................
1 8 4 6 ..........................................................
1853
.....................................................
1854
.....................................................
1855
.....................................................
1 8 5 6 .....................................................
1 8 6 7 ..........................................................




7 ,4 0 7 ,2 0 4
7,8 7 6,70 2
9 ,179,530
1 0,350,307
10,889,611
1 0,884,100
9,343,549
10,209,731

Scotland.
3,9 8 8,78 8
6,6 2 0,82 6
6 ,975,091
6,5 3 4,23 9
6 ,553,239
5,3 4 4,31 9
7,1 7 5,93 9
7,2 6 6,86 7

Ireland.
6 ,834,868
1 2,248,772
7 ,952,076
8,136,362
8,4 4 0,73 4
6,228,856
6 ,781,068
6 ,877,156

731

Statistics o f Trade and Commerce.
EXPORT OF BREADSTUFFS FROM THE UNITED STATES,
TO GREAT BRITAIN AND IRELAN D.

Flour,
bbls.

New Y ork..................................
New Orleans..............................
Philadelphia...............................
Baltimore....................................

Meal,
bbls.

484

Other ports.................................

773,408
288,123
84,286
96,995
3,683
54,411

Total, 1857-58..................
Total, 1856-57..................

1,300,906
863,179

607
686

123
...

Wheat,
bush.

Corn,
bush.

5,413,873
737,451
165,642
213,076
128,597

1,757,114
974,248
376,954
251,288
8,920
3,920

6,658,639
7,567,001

3,372,444
4,793,134

437,727
Decrease....................
Total year ending Sept. 1,1858
“
“
1857
“
“
1856
“
“
1855
“
“
1854
“
“
1853
“
“
1852
“
“
1851
“
“
1850
“
“
1849
“
“
1848
“
“
1847

1,300,906
863,179
1,665,552
170,829
1,824,920
1,618,060
1,444,640
1,581,702
463,460
1,118,316
183,533
3,150,689

79

908,362

1,420,690

607
6S6
8,721
5,536
40,660
683
1,810
5.553
6,086
86,058
105,350
847,280

6,658,639
7,567,001
7,939,955
317,713
5,918,317
5,543,460
2,712,120
1,523,908
463,015
1,091,385
'251,622
4,015,134

3,372,444
4,793,134
7,060,821
6,843,242
6,215,936
1,517,087
1,576,749
2,368,860
4,873,446
12,729,626
4,581,367
17,298,744

TO THE CONTINENT.

Wheat,
bush.

Corn,
bush.

New Y ork..................................
Other ports to latest dates... .

126,186
176,914

237,953
152,475

10,818
6,030

13,100

Total...................................
“
1856-57..................
“
1855-56..................
“
1854-55..................

303,100
483,344
748,408
7,763

390,428
2,875,653
2,610,079
4,972

16,848
543,590
282,083
308,428

13,100
216,162
1,976,478
35,569

Flour,
bbls.

E ye,

bush.

BRITISH AND FOREIGN SHIPPING AND EXPORTS,

The Shipowners’ Society in their twenty-second report have supplied the fol­
lowing return of British and foreign vessels entered and cleared with cargoes.
W e have also added to these the declared value of British produce and manu­
factures exported in each year from 1849 to 1857, inclusive :—•------------

Entered.-------------,
British,
Foreign,
tons.
tons.

Years.

1849...............
1850...............
1851...............
1852...............
1853...............
1854...............
1855................
1856...............
1857...............
Increase. . .

4,390,375
4,078,544
4,388,245
4,267.815
4,513,207
4,789,986
4,174,082
5,086,262
5,427,534
23 p. ct.




1,680,894
2,035,152
2,599,988
2,462,354
3,284,343
3,109,756
2,844,386
3,155,402
3,304,272
156 p. ct.

,-------------Cleared.-------------»

British*
tons.

Foreign,
tons.

3,762,182
3,960,764
4,147,007
4,45 9,321
4,551,498
4,683,654
5,036,926
5,883,861
6,208,724
65 p. ct.

1,667,726
1,946,214
2,836,137
2,413,260
3,032,113
3,186,882
3,311,738
3,777,473
4,130,850
147 p. ct.

Declared value
o f British
exports.

£63,596,025
71,367,885
74,448,722
78,076,854
98,938,781
97,184,726
95,688,085
115,826,968
122,155,237
92 p. ct.

732

Statistics o f Trade and Commerce.
IMPORTS OF DENMARK AND THE DUCHIES,
—

C o tto n ..........................
Cotton g o o d s ............... .
Linen goods....................
Silks.................................
Woolens..........................
Coffee, raw and b u r n t . .
Sugar and m olasses... .
Tea...................................
Rice, rough and ground
Tobacco, raw and manufactured..
Salt, coarse and fin e....
A ll other.................... ..
“
....................... . . . . lbs.
Wine in ca sk s...............
W ine in bottles........... ...........No.
■Brandy in casks............
Brandy in bottles........ ...........No.
Looking-glasses............
B ottles......................... .
All other glassware.. . ...........lbs.
Iron and ironware........
Coal.................................
I umber......................... .cubic feet

Ifijfi.

Import.
5,170,796
2 .901,680
2,756,839
125,651
1,748,Cl 2
22,570,291
4 3,6 26 ,1 2 0
755,751
14,179,346
8,067,047
18,375,453
118,329
715,787
421 ,62 2
198,697
472.639
9,951
164,936
54.487
3,198,134
92,067,908
2,813,451
10,181,675

^

Paid duty.
4 974,088
2,910,868
2,303,559
133,723
1,751,427
14,543,989
45,8 45 ,1 3 9
778 ,18 0
9,400,273
7 ,907,695
18,302,660
108,430
805,548
398,655
197,051
370,946
9,814
171,371
54,587
2,947,955
84,270,858
2,390,012
10,171,542

15'57.

Import.
8,725,081
2,453,432
2,478,420
105,812
1,638,920
15,273,503
5 0,322,640
615 ,24 4
11,184,201
8,592,445
18,761,839
107,430
748 ,22 2
380,140
195,162
325,232
10,707
143,618
49,508
2,496,988
87,175,398
2,9 2 2,9 H9
9,133,211

Paid duty.
4,1 0 1,61 2
2,543,237
2,179,735
109.962
1,658,146
14,610,776
4 5,816,101
796,976
9,188.671
8,619,011
17,661,009
100,464
761 .19 4
399,891
195,539
3 50 ,84 5
10,906
145 ,78 0
51,358
2,804,546
85,889,039
2,541,280
9,000,941

TEA EXPORTS FROM CHINA TO UNITED STATES.

The following is a statement of the exports of tea from all the ports of China
to the United States for the year to July 1 :—

1858.

1857.

1856.

V oung H yson .........................lbs.
Hyson............................................
Hyson Skin...................................
T w ankay......................................
G unpow der..................................
Imperial.........................................

11,384,842
821,776
475,827
1,168,145
2,264,094
1,892,902

11,552,184
1,238,379
330,091
1,114,450
1,622,244
1,520,373

16,812.200
920,798
1,084,246
1,682.207
2,122,722
1,786,400

Total green...........................
Congou and Souchong.................
Powchong......................................
Pekoe and Orange Pekoe...........
Oolong and Ningyong.................

18,005,586
2,635,339
35,362
529,980
8,531.971

17,386,821
1,868,616
94,400
29,600
5,919,959

24,358,574
4,895,260
288,809
337,180
9,756,055

Total b la c k ..........................
Grand total...........................
Arrived in United States..

11.732,682
29,852,288

7,913,575
25,S00,396
20,325,541

15,277,304
39,635,838
22,778,975

The discrepancy between the arrivals in the United States and the exports
from China hither is considerable, and is accounted for in some cases by the
landing of the teas at other places—South America and elsewhere—on the way,
and that all the vessels cleared at the consular offices in China for the United
States do not come here.
COMMERCE OF RICHAIOND, VIRGINIA.

The following it a comparison of the value of the exports and imports during
the first six months of each year mentioned :—Imports.

1855....................
1856.....................




$102,142
114,100

Exports.

$918,190 I 1857.................
978,362 | 1858.................

Imports.

$599,982
279,627

Exports.

$1,596,747
1,801,954

>Statistics o f Trade and Commerce.

738

VEGETABLE AND TRUCK TRADE OF NORFOLK, VA.

The accurate and accomplished clerk of the Merchants and Mechanics’ Ex­
change has extracted from the shipping lists of the various steamers, and other
authentic sources, the number of barrels, boxes, and baskets of peas, cucumber,
beaDS, tomatoes, radishes, rhubarb, asparagus, apples, pears, peaches, &c., &c.,
and below we give the total exports to each market during the months of June,
July, and August:—
Packages.

Value.

New York..................................................
Philadelphia............................................
Baltimore...................................................
Richmond..................................................

62,301
7,305
67,424
1,565

$183,063 60
25,667 50
235,984 00
5,477 50

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

128,595

$450,082 60

The above packages are estimated at S3 50, which is a low figure, as the
largest portion of the packages were barrels of cucumbers, radishes, potatoes,
&c., which, in the early part of the season, commanded $6 to §10 each.
The above statement shows a very large amount shipped to Baltimore, and it
is proper to remark that much of it went through to Philadelphia, Washington,
and even as far as Cincinnati, via the former city. In addition to the above,
there have been from 75,000 to 100,000 water-melons shipped hence to Northern
ports during the season. It will be seen, by comparing the foregoing statement
with that made last year, that this trade is very rapidly increasing. The total
quantity shipped last year was 96,099 packages, valued at §336,346 50; we
have, therefore, an increase this year in quantity of 32,496 packages, and in value
of §113,736.
MERCHANDISE EXPORTED FROM THE PORT OF NORFOLK DURING THE MONTH OF SEPTEMBER,

1858,

AS REPORTED ON THE BOOKS OF THE MERCHANTS AND MECHANICS’ EXCHANGE.
COASTWISE.

Apples, dried__ _ bush.
Apple brandy . . . .bbls.
Corn...................... bush.
C otton ................. bales
Fish .....................
Flaxseed ............. bush.
Flour.....................
Peaches, d ried .. . .bush.
T o ta l...................

Quantity.
1,892
39
43,164
288
109
896
75
192

Yalue.
$3,8x15
1,287
33,867
14,400
436
1,593
475
1,356

Quantity. Yalue.
P ea s.................
76
$ 112
148
508
Rosin................. ...b b ls.
Tar....................
613
1,379
Staves............... . . . . No . 40,000
1,800
Shingles............
903,750
4,391
Spirits turpentine...bbls.
24
74
W h ea t.............
17,519 20,131

FOREIGN.

B eef....................... .bbls.
Railroad cro3s-ties. ..N o.

24
2,934

$312 [Staves ........... . . . . No . 620,837 $19,008
1,173 Splice blocks...
1,000
500

T o ta l.........
Grand total
TEXAS COTTON,

The receipts of cotton at Houston and Galveston respectively were as follows,
for the years ending September 1 :—
Houston. Galveston.

Houston. Galveston.

1854 ........... .bales
1855 ....................
1856 .....................




38,923
44,050
47,008

----------------

1857...............bales
1868 .......................

46,220
68,453

71,399
119,827

Statistics o f Trade and Commerce.

734

TRADE OF BENGAL.

The annual return of the commerce of Bengal has been published. It includes
the mutiny year from beginning to end, from 1st May, 1857, to 30th April, 1858.
The exports were:—

1856—57.

1857-58.

Merchandise.................................
Treasure..............................................

£13,664,791
998,953

£13,381,049
859,691

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

£14,663,744

£14,240,740

Showing a decrease of £423,004 sterling. This decrease is entirely in the
trade with Great Britain, France, and North America, the exports to Great
Britain having, for instance, sunk from £4,666,563 to £3,895,866. The decrease
has been principally inSugar...................
Cotton..................
Silk piece goods.
Gunny...............
Mustard-seed . . .

1856-57.

1857-58.

£1,662,499
211,562
317,494
262,397
119,426

£1,053,329
104,442
202,379
112,949
33,034

The total decrease, considering the circumstances of the year, is very small,
but it would have been much greater but for one item. The export of opium, a
government manufacture, has increased by nearly a million. "We exported in—
1 8 5 6 -5 7 ........................

£3,823,803 | 1857- 5 8 .....................

Imports on the other hand have increased.

1856-57.

1857-58.

Merchandise.......
Treasure............

£8,024,178
6,676,053

£7,407,424
7,807,088

Total.......

£14,700,231

£15,214,512

COFFEE CROP OF BRAZIL.

The quantity of coffee exported from Bio de Janeiro, for the crop year 1857-58,
was as follows, comparatively :—
CLEARANCES OF COFFEE DURING CROP T E A R

Months.

July............................. ___
August........................ ___
September................... ___
October........................... ___
November....................... ___
December........................ ___
January .......................... ___
February.......................... ___
March............................... ___
April................................ ___
May.............................
June............................. ___
Total..................... ___

United States.

Europe.

222,784
165,528
221,124
176,800
101,341
49,285
167,133
172,754
93,123
152,924

56,914
74,859
101,262
93,705
54,406
8,583
78,211
97,307
47,791
116,714
52,685
105,269

160,532
87,110
110,031
82,839
42,741
37,782
86,296
73,876
45,332
33,123
15,215
26,054

5,338
3,559
9,831
256
4,194
2,920
2,626
1,571
___
3,087
1,998
1,004

1,725,031

887,706
1,204,168

800,931
1,173,210

36,384
48,736

696,093

316,462

372,279

7,352

132,32

1856-57 .........................
Decrease................. ___

1857-58.

Totals.

The crops for some previous years were as follows :—
1855.................................
1854.................................
1853.................................




2,409,099
1,987,632
1,637,663

1852...........................
1851...........................

Elsewhere.

735

Com m ercial R egulations.
FLOUR INSPECTIONS IN VIRGINIA.

The following is a comparative statement of the number of packages (mostly
barrels) of flour inspected at the prominent points in Virginia during the quar­
ter ending- September 30, and the same period of the two preceding years :—
Richm ond.................................. ..bbla.
Petersburg.................................
Alexandria................ ...............
Lynchburg ...............................
Fredericksburg..........................
Falmouth...................................
N o rfo lk ......................................
T o ta l..............................

1856.

1857.

1858.

150,120

170,246
19,242
19.141
11,331
13,606
9,854
4,819

185,856
15,928
22,417
17,258
6,721
11,432
4,290

248,239

263,901

COMMERCIAL REGULATIONS.
COTON AZOTIQUE, OR GUN COTTON.
T reasury D epartment, August 5, 1858.
S i r :—I acknowledge the receipt of your report, under date of the 26th ultimo,
on the appeal of Mr. Victor Bishop from your decision assessing a duty of 24
per cent on an article imported by him, and described in the invoice as “ coton
azotique,” under the classification in schedule C of the tariff of 1857 of “ all
manufactures composed wholly of cotton, which are bleached, printed, painted,
or dyed.” The article in question is known in commerce as “ gun cotton,” which
is understood to be cotton saturated with nitric and sulphuric acids, and used
chiefly as a substitute for gunpowder in blasting, and to some extent also in
phothography and surgery. It is contended by the appellant that it is a fulmi­
nate, and chargeable as such with a duty of 15 per cent, under the classification
in schedule E of the tariff of 1857 of “ fulminates or fulminating powders.”
This Department is clearly of opinion that gun cotton does not belong to the
classification to which it was referred on the entry. It is not a manufacture com­
posed wholly of cotton. The value of the article consists mainly in the chemical
ingredients which it contains. It may be classed either as a fulminate, under the
designations of “ fulminates or fulminating powders,” in schedule “ E ” of the
tariff of 1857, or treated as an unenumerated article, and referred, under the
provisions of the 20th section of the act of 1842, by similitude of use, to the
classification of “ fulminates or fulminating powders,” or “ gunpowder,” embraced
in that schedule. In either case it would be entitled to entry at a duty of 15
per cent. Your decision is therefore overruled, and the article in question will
be held liable only to a duty of 15 per cent. I am, very respectfully,
HOW ELL COBB, Secretary of the Treasury.
A ugustus S chell, Esq., Collector, New York.
TAMARINDS PRESERVED IN SUGAR,
T reasury D epartment, August 28, 1858,

:—I acknowledge the receipt of your report, under date of the 5th instant,
on the appeal of Messrs. J. C. Tyler & Co, from your assessment of duty at the
rate of 30 per cent on an importation of “ tamarinds preserved in sugar,” under
the classification in schedule “ B ” of the tariff of 1857 of “ comfits, sweetmeats,
or fruit preserved in sugar, brandy, or molasses,” the importers claiming to enter
them at a duty of 8 per cent, under the classification of “ fruits, green, ripe, or
dried.” It appears from your report that the tamarinds were not, when imported,
green, ripe, or dried merely, but were packed or preserved in sugar. They canDOt, therefore, come within the classification of “ fruits, green, ripe, or dried,” in
schedule G of the tariff, but are expressly provided for in schedule B, under the
classification of “ comfits, sweetmeats, or fruit preserved in sugar, brandy, or
molasses,” and subject to duty at the rate of 30 per cent exacted by you in this
case. Your decision is hereby affirmed. I am, very respectfully,
S ir

HOW ELL COBB, Secretary o f the Treasury.
A . W . A ustin , Esq., Collector, Boston, Massachusetts.




786

Commercial Regulations.
COTTON SOCKS W ITH DYED TOPS.
T reasury . D epartment, August 28, 1858.

S i r :—This Department has had under consideration the appeal of Messrs.
J. M. Davis & Co. from your decision assessing duty at the rate of 24 per cent
on certain articles described as “ cotton socks with dyed tops,” under the classiiication in schedule C of the tariff of 1857, of “ all manufactures composed wholly
of cotton which are bleached, printed, painted, or dyed.” The articles in question
are composed wholly of cotton, and unbleached, a portion only of about half
inch in width around the top being colored. This narrow stripe or band is under­
stood to be a “ trade mark ” of the importers, for whom the soclss are manufactured,
indicating the weight by its color; and the question arises whether by reason of
this colored stripe the articles in question should be considered as “ dyed ” within
the meaning of the provision in schedule 0, to which they were referred by you
on the entry. The Department is clearly of the opinion that they should not be
so considered. They arc known in the trade as “ brown or unbleached hosiery.”
The slight portion colored, not as a finish or ornament, but as a mere mercantile
mark, cannot be held so to affect the character or quality of the article as to
constitute the hosiery “ dyed ” within the true intent and spirit of the law Your
decision is, therefore, overruled, and the articles in question will be regarded as
falling within the classification in schedule “ E,” of “ caps, gloves, leggings, mits,
socks, stockings, wove shirts and drawers, made on frames, composed wholly of
cotton, worn by men, women, and children,” and be subject to duty at the rate
of 15 per cent. I am, very respectfully,
HOW ELL COBB, Secretary of the Treasury,
A ugustus Schell, Esq., Collector, New York.
SPRING

STEEL.
T reasury D epartment, September 10,1858.

:—This Department has had under consideration your report of the 12th
ultimo on the appeal of Messrs. Naylor & Co. from your assessment of duty, at
the rate of 15 per cent, under the classification of “ steel, not otherwise provided
for,” in schedule E of the tariff of 1857, on an article described as “ German
spring steel,” and which the importers claim to enter as “ German steel,” “ in
bars,” at a duty of 12 per cent, under the classification in schedule F of “ steel
id bars, cast, sheer, or German.”
The steel in question is stated by the importers
to be commonly known in the trade under the name of “ spring steel,” and is
made by rolling or tilting blistered steel into bars of a size and form fitted for
the manufacture of springs for coaches or other vehicles; and they allege that
while it bears this name in the trade on account of the use for which it is intended,
it belongs to the class referred to in schedule F as “ German,” and should, as
such, be subjected to a duty of 12 per cent. If it be conceded that the steel in
question was imported “ in bars,” its classification will still depend upon the
further fact, whether, at the date of the enactment of the tariff of 1846, it was
generally known and recognized in commerce as “ German steel.” From the
most reliable information the Department has been able to obtain on the subject,
it is of opinion that steel of the description of that now in question is not the
article referred to in schedule F uud' r the designation of “ German,” and that,
whatever name it may now bear in trade, it was not known at the date of the
passage of the tariff act of 1846 as “ German steel.” It cannot, therefore, be
regarded as having been the intention of Congress to embrace it under that
designation in the tariff. This view is strengthened by the result (in favor of
the defendant) of the suit of Wilson, Hawkesworth, el ah, vs. Heman J. Redfield,
in the United States Circuit Court for the southern district of New York, which
involved, it is understood, a similar question, and in which, under the instructions
of the court, the rate of duty to which the article was subject was made to de­
pend ou its commercial designation at the date of the enactment of the tariff of
1846. Your decision in this case, assessing a duty of 15 per cent, under the
classification of “ steel not otherwise provided for,” in schedule E, is affirmed.
I am, very respectfully,
S ir

HOW ELL COBB, Secretary o f the Treasury.
A ugustus Schell, Esq., Collector, New York.




Commercial Regulations.
“

SHAVED

737

SHINGLES.”
T reasury D epartment, September 30, 1858.

S ir :—I acknowledge the receipt of your report, under date of the 18th

ultimo, on the appeal of John S. Fallow, Esq , from your assessment of duty on
an importation of “ shaved shingles,” from Miramichi, New Brunswick. It ap­
pears to be understood, both by the appellant and yourself, that the articles in
question are not exempted from duty by the reciprocity treaty with Great
Britain, of the 5th of June, 1854. The only provision of the treaty which can
be considered at all applicable to the case, is that exempting from duty “ timber
and lumber of all kinds, round, hewed, and sawed, unmanufactured in whole or in
part.” Shaved shingles being manufactured, and by other process than hewing
or sawing, are not embraced within that provision. The appellant is understood
to claim to enter the article as unenumerated, at a duty of 15 per cent, under the
1st section of the tariff act of 1857. Schedule C of the tariff of 1857 imposes
a duty of 24 per cent on “ manufactures of wood or of which wood is a com­
ponent part, not otherwise provided for.” “ Shaved shingles" being manufac­
tures of wood, and not being provided for in any other schedule of the tariff, fall,
in the opinion of the Department, within that classification in schedule 0, and
were properly subjected by you to the duty of 24 per cent. I am, very respect­
fully,
H OW ELL COBB, Secretary o f the Treasury.
A. W . A ustin, Esq., Collector, Boston, Massachusetts.
<(

WALNUTS IN SALT AND W A T E R .”
T reasury D epartment, September 30, 1858.

An appeal has been taken to this Department, by Messrs. William Un­
derwood & Co., from your decision assessing duty at the rate of 24 per cent on
an importation of “ walnuts in salt and water,” under the classification in schedule
C of the tariff of 1857 of “ capers, pickles, and sauces of all kinds, not other­
wise provided for.” The importer, it seems, claims to enter the articles in ques­
tion as unenumerated, at a duty of 15 per cent, under the 1st section of that
act. By reference to the decision of the Department, under date of the 30th of
October, 1857, in the case of an importation of salted peppers from Cape
Haytien, you will see what construction the Department .gives to the terms
“ pickles” as used in schedule C. For the general reasons therein stated, ap­
plicable also to this case, the Department is of opinion that the articles in ques­
tion should be classed as unenumerated, and charged with a duty of 15 per cent
under the 1st section of the tariff act of 1857. I am, very respectfully,
S ir

H OW ELL COBB, Secretary o f the Treasury.
A. W. A ustin, Esq., Collector, Boston, Massachusetts.
( ( LIMES PRESERVED IN SALT AND W A T E R .”
T reasury D epartment, September 30,1858.

:— I acknowledge the receipt of your report of the 1st instant on the ap­
peal of E. B. Freeman, Esq., from your decision assessing a duty of 24 per cent
on an importation of “ green limes preserved in salt and water,” as “ pickles,”
under the classification in schedule C of the tariff of 1857 of “ capers, pickles,
and sauces of all kinds, not otherwise provided for,” the importer claiming to
enter them at a duty of 8 per cent under the classification in schedule G of
“ fruits, green, ripe, or dried.” The articles in question are not, in the condition
in which they are imported, “ pickles,” within the meaning of that term as used
in schedule O of the tariff of 1857, and their character is so far changed by
their preservation in salt and water as to withdraw them from the classification
in schedule G of “ fruits, green, ripe, or dried.” They should, in the opinion of
the Department, be regarded as unenumerated, and charged with a duty of 15
per cent under the provisions of the 1st section of the tariff of 1857. I am,
very respectfully,
S ir

HOW ELL COBB, Secretary o f the Treasury.
A . W. A ustin, Esq., Collector, Boston, Massachusetts.
V O L . X X X I X .-----N O . I V .




47

738

Nautical Intelligence.

NAUTICAL INTELLIGENCE.
ROCK OFF THE ENTRANCE TO PORTSMOUTH, N, H,

The following is a letter to the Secretary of the Treasury, communicating data
for the position, and directions for clearing, a dangerous rock off the entrance to
Portsmouth, N. IT., developed by the examination of Lieut. Commanding
A l e x a n d e r M u r r a y , U. S. N., Assistant in the Coast Survey:—
Coast Survey Station , B eddington, M e., September 10,1858.

:—I have the honor to report the finding of a dangerous rock off the en­
trance to the harbor of Portsmouth, N. IT., with as little as six-and-a-half feet
of water on it at mean low tide. The rock is a part of Triangle Ledge, and was
found on the 9th of August, by Lieut. Commanding Alexander Murray, U. S. N.,
Assistant in the Coast Survey, in the surveying steamer Bibb, that vessel strik­
ing with violence on it, as its position was not laid down on any known chart of
the locality.
Lieut. Commanding Murray has furnished the following data for the geographical
position of this danger to the navigation of the vicinity of the entrance to Ports­
mouth :—•
“ The monument on York Ledge bears north 29° 15' east, distance I f nautical
mile.
“ The light on Whale’s Back bears south 78° west, distance 4 nautical miles.
“ Boon Island is 6£ nautical miles distant, and with Whale’s Back on range,
will nearly include the rock, it being 6° 30' to the southward.”
The report of Lieut. Commanding Murray contains also the following direc­
tion for clearing the rock :—“ After doubling the bell buoy off Boon Island, vessels should keep the Whale’s
Back open to the northward at least two points, until they pass the monument
on York Ledge.
“ The rock has 6£ feet water at mean low tide, and within a ship's length, 7
and 11 fathoms. It should be buoyed.”
I would respectfully request the transmission of a copy of this communication
to the Lighthouse Board, and authority to publish it from the Coast Survey
Office, in the usual form as a notice to mariners. Very respectfully, yours,
S ir

A. D . BACHE, Superintendent U. S. Coast Survey.
H on. H owell Cobb , Secretary o f the Treasury.

ENTRANCE TO THE R IV E R THAM ES, PRINCES AND HORSE CHANNELS.
T rinity -H ouse, L ondon, 15th September, 1858.

Notice is hereby given, that the Girdler Spit buoy has been moved to a position
midway between the Princes Channel light-vessel and the Girdler beacon, and
now lies in 3£ fathoms at low water spring tides, with the following marks and
compass bearings, v iz.:—
Chislet Mill open west of George’s Farm S. S. W. £ W .; St. Peter’s Church
open west of a mill at the back of Margate S. S. E. £ E .; North Tongue buoy
S. E. by S .; Girdler beacon N. W . by W . Notice is also given, that it is
intended in the course of the month of October to make the following changes
in the buoys in the Horse Channel, viz.:—
The Gore Patch buoy will be taken away. The East Last buoy will be
moved about I f miles east of the West Last buoy, by which arrangement the
three last buoys, and Margate Hook beacon, will be separated at equal distances.
A red buoy will be placed on the Beculver Sand, which, with Margate Hook
beacon, will form the eastern entrance to the Horse Channel. Further notice
will be given when the above changes are effected. By order,




P. H. BERTHON, Secretary.

Nautical Intelligence.

73b

LIGHT-VESSEL OFF THE NORTH HINDER BANK, COAST OF HOLLAND.

The Minister of Marine at the Hague has given notice, that a light-vessel has
been moored in 21 fathoms water in latitude 51° 36' 40" N., longitude 2° 34'
25" E ,on the eastern side of the North Hinder Bank, and that on and after the
23d August, 1858, a fixed white light would be exhibited from her mainmast at
an elevation of 40 leet above the sea, and visible in clear weather at the distance
of about 11 miles. The light-vessel has two masts, and is colored red, with the
words Noord-Hinder painted in large white letters on her sides. During the day
a red ball will be hoisted at her mainmast head, and in thick foggy weather a
bell will be struck every quarter of an hour, preceded and followed by strokes
of a gong. Also, that a red buoy has been placed in 14 fathoms water, N. i E.
2 miles from the light-vessel, with the word Hinder marked on it in white letters.
Vessels of large draught are recommended to keep to the northward of this buoy,
in order to avoid the shoal patches on the North Hinder. The bearings are
magnetic. Variation 20° west in 1858. By order of the Lighthouse Board,
THORNTON A. JENKINS, Secretary.
■Washington, October 1, 1658.
BELL BEACON VESSEL OFF THE SCHODWEN BANK, COAST OF HOLLAND.

The Minister of Marine at the Hague has given notice, that an iron bell bea­
con vessel has been placed in the position before occupied by a red conical buoy,
near the northeast part of Schouwen Bank, off Brouwershaven G-at, coast of
Holland. The beacon vessel is painted black, and has one mast, to which is
secured a triangular framework extending fore and aft and athwart, having planks
painted alternately black and white. On a black plank is the word Schouwen
Bank, and on one of the white planks VV. Schouwen, S. E., magnetic. A heavy
bell, the sound of which serves as a warning by night or in foggy weather, is
carried between screeus at the mast head, at an elevation of 23 feet above the
water, and the whole may be seen in clear weather from a distance of 8 miles.
The beacon vessel lies in 14 fathoms at low water, in latitude 51° 47' N.. longi­
tude 3° 27'east of Greenwich, with Schouwen revolving light bearing S. E., and
West Kapelle light S. by W. £ W. All bearings are magnetic. Variation 20°
west in 1858. By order of the Lighthouse Board,
THORNTON A. JENKINS. Secretary.
"Washington, September 28,1858.
FIXED LIGHT AT PORT C U D ILLER O -A TLA N TIC , COAST OF SPAIN.

The Minister of Marine at Madrid has given notice, that on and alter the 1st
of August, 1858, a harbor light would be exhibited from the lighthouse recently
erected on Rovallera Point, Port Cudillero, in the province of Oviedo, Bay of
Biscay. The light is a fixed white light, placed at an elevation of 94 English
feet above the level of the sea, and should be visible in ordinary weather from a
distance of 10 miles. The illuminating apparatus is dioptric, or by lenses, of the
fifth order. The lighthouse consists of a rectangular building with a tower rising
from it, the whole being 14 feet high. The rectangular building is colored white,
and the tower and lantern dark green. It stands in latitude 43° 36' 10" N .;
longitude 6° 9' 3" west of Greenwich, according to the latest Spanish position
given. By order of the Lighthouse Board,
THORNTON A. JENKINS, Secretary.
■Washington, September 25, 1858.
FOG SIGNALS ON BOARD Ua
Y ITED STATES LIGHT-VESSELS.

Notice is hereby given, that on and after the 1st day of January, 1859, vessels
approaching or passing light-vessels of the United States in foggy or thick
weather, will be warned of their proximity by the alternate ringing of a bell antt
sounding of a fog horn on board of the light-vessel, at intervals not exceeding
five minutes. By order of the Lighthouse Board.
THORNTON A. JEN KIN S, Secretary.
W ashington , October 5,1858.




740

Nautical Intelligence.
TE M PO R A RY LIGHTS AT HOLYHEAD OLD HARBOR, WALES.

The Hydrographer of the British Admiralty has given notice, that on and
after the 6th September, 1858, the outer end of the works of a new wooden jetty
in course of construction at the entrance of the Old Harbor of Holyhead, will
be indicated as they advance by two red lights, 20 feet apart, and each 5 feet
above the level of the jetty. The work is to be exterded in a N. E. direction
from the Pier head Lighthouse, and its entire length will be 500 feet. By order
of the Lighthouse Board,
THORNTON A. JENKINS, Secretary.
W ashington, October J, 1858.
LIGHTS AND FOG SIGNALS,
TO BE CARRIED AND USED B Y SEA-GOING VESSELS OF FRANCE, TO PREVENT COLLISION.

Official notice respecting lights and fog signals, which are to be carried and used
on and after the 1st day of October next, (1858,) by all sea-going vessels of
Prance,* to prevent collision, having been published in Le Mnniteur de la Flotle,
the following translation of the decree and the prescribed regulations is published
for the information of mariners. By order of the Lighthouse Board,
THORNTON A. JENKINS, Secretary.
W ashington, September 20, 1858.
( t r a n s l a t i o n .)

by the grace of God and the national will, Emperor of the French,
to all present and to come, greeting :—
In view of the law of the 9th (13th) August, 1791 ; in view of article 225 of
the commercial code; in view of the decree of 17th August, 1852 ; upon the
recommendation of our Minister Secretary of State to the Department of Marine
and Colonies; we have decreed and do decree as follows :—
A r t i c l e 1. On and after the first day of October, 1858, sea-going vessels will
be subjected to the following regulations: the object of which is to prevent
collisions:—
N apoleon ,

REGULATIONS t o b e o b s e r v e d a n d f o l l o w e d a t a l l t i m e s b e t w e e n s u n s e t a n d
SUNRISE.

A

rt .

2.

S ec . 1. Steam vessels, when underway under steam, at sea, in road­

steads, or in ports, will carry the following lights :—
A t the foremast-head, a white light, illuminating 225° of the horizon, visible
on each side of the vessel from ahead to two points abaft the beam ; on the star­
board side, a green light, illuminating 112° 30' of the horizon, visible from ahead
to two points abaft the starboard beam ; on the larboard (port) side, a red light,
illuminating i 12° 30' of the horizon, visible from ahead to two points abaft the
larboard (port) beam. The side lights are to be fitted with inboard screens pro­
jecting at least three feet forward from the light, so as to prevent the green light
from being seen across the port bow, and the red light from being seen across
the starboard bow.
S ec. 2. Sailing vessels and steamers not under steam, when underway under
sail, or beiDg towed, at sea, in roadsteads, or in ports, will carry the same lights
as are prescribed for steam vessels under steam, except the white light at the
foremast-head, which will not be shown.
A rt . 3. Sailing pilot vessels will not be subjected to the arrangement and

colors of lights prescribed by the preceding article; but they will be distinguished
by a permanent white light, visible around the whole horizon, hoisted at the
mainmast-head ; and by a white light, equally visible around the whole horizon,
which will be shown for a few minutes once in every quarter of an hour.
A rt. 4. Sailing vessels, as well as steamers, while andiored in a roadstead, in
a channel, or in a line of passing vessels, will carry a White light, visible around
the whole horizon, placed in the best possible position for being seen, but at a
height not exceeding six metres (about 20 feet) above the deck.
♦ N otr.—See regulations o f similar import for all sea-going vessels o f Great Britain and o f Ihe
Netherlands.




741

Nautical Intelligence.

A rt . 5. The distances from which the different lights specified in the preceding
articles should be visible on a dark night with a clear atmosphere, (free from fog,)
should not be less than the following :—
White light at the foremast-head of steamers underway under steam, five
nautical miles. Green and red lights, two nautical miles. White light of vessels
at anchor, one nautical mile.
REGULATIONS TO BE

OBSERVED

AND

FOLLOWED

DURING

FOGS,

BOTH

BY

D AY

AND NIGHT.

A rt . 6. During fogs, b y day as well as by night, vessels when underway at
sea, in roadsteads, and in ports, will make the following signals once in every five
minutes, or oftener:—S ec. 1. Steam vessels underway under steam, will sound a steam whistle, which

must be placed in front of the funnel at a height of not less than 2 m. 40 (about
eight feet) above the deck.
S ec. 2. Sailing vessels and steamers underway under sail, or being towed,
when on the starboard tack, will blow a fog horn ; when on the larboard (port)
tack, will ring a bell.
d e v ia t io n s f r o m t h e f o r e g o in g r e g u l a t io n s a l l o w e d to s m a l l s a il in g v e s s e l s .

A rt . 7. Small sailing vessels with gunwales too low to have the side lights
permanently fixed and visible at all times, shall nevertheless have lights constantly
lighted in colored lanterns, from sunset to sunrise, and kept on deck on the side
of the vessel to which they belong according to color, ready to be shown to any
approaching vessel. These hand lanterns, when exhibited, must be held so as to
show the light to the best advantage, and in such a manner as to prevent the
green light from being seen across the port bow, and the red light from being
seen across the starboard bow. To insure the certain application of these
regulations, the lanterns will be painted the color of the lights to be exhibited
from them, and fitted to screens of as great length as possible. Besides the
screens to be held fore and aft of the vessels, the following indication will be
marked on the back :—

Green light
Red light
A r t . 8 . The lights indicated in the preceding article will not be required to
have the range prescribed by article five for the fixed lights.
A r t . 9. This decree abrogates, on and after the 1st day of October, 1858, the
decree of the 17th August, 1852, relating to the exhibition of lights at night by
steamers and sailing vessels.
A r t . 10. Our Minister Secretary of State to the Department of Marine and
Colonies, is charged with the execution of this decree, which will be inserted in
the Bulletin of the Laws.
Done at the Palace of Fontainebleau, the 28th May, 1858.
NAPOLEON.

By the Emperor :—The Admiral, Minister Secretary of State to the Departof Marine and Colonies.
H AM ELIN.
MAPLIIV SAND— ENGLAND, EAST COAST,
BEACONS FOR MEASURED MILE.

Official information has been received at this office, that the Lords Com­
missioners of the Admiralty of Great Britain having caused four beacons, each
distinguished by a triangular head, to be erected on the southern edge of the
Maplin Sand, within or to the W. N. W . of the black can buoy on the Black
Tail spit, for the purpose of testing the speed of H. M. steamers ; it is there­
fore requested that mariners in charge of passing vessels will carefully avoid
collision with these beacons, and any person who may be found willfully injuring




7 42

Nautical Intelligence.

them will be prosecuted as the law directs. The beacons ate placed on E. £ N.
and W. £ S. lines of bearing, a third of a mile apart, and are distant from each
other 6,085 feet, or one geographical mile. The eastern beacons bear respectively
from the Mouse light-vessel W. N. W. £ W. 2£ miles, and VV. N. W. £ N. 2£
miles; and the western beacons bear from the More light-vessel E. N. E. £ E. 4£
miles, and E. N. E. £ E. 4£ miles. All bearings are magnetic. Variation 21£°
west in 1858. By order of the Lighthouse Board,
THOENTON A. JENKINS, Secretary.
W ashington, October 1, 1858.
ROCK OFF LUNDY ISLAND— ENGLAND, W E ST COAST.

The Hydrographer of the Admiralty of Great Britain has issued the following
notice
“ A detached rock, named the Lee Bock, lying off the south end of Lundy
Island, in the entrance of the Bristol Channel, not being generally known,
(although nearly in the direct track of vessels rounding the island to seek its
protection in westerly gales,) the following information is published lor the benefit
of the mariner
“ The rock, which has a depth of 9 feet over it at low water, and the weeds
upon it exposed during a heavy sea or ground swell, lies nearly under Morisco
Castle, with the Black Bock, off Shutter Point, W . N. W. 7 cables’ lengths,
and the southeast extremity of Bat Island N. E. by E. one-third of a mile.
“ C a u t i o n . —The mariner is cautioned to give the south end of the island a
berth of half a mile, nearly, when rounding it to enter Lundy Boad, so as to
avoid this danger.” By order of the Lighthouse Board,
TIIOENTON A . JENKINS, Secretary.
W ashington, September 25,1S58.
LIGHT-VESSEL OFF HANDKERCHIEF SHOALS— VINEYABD SOUND, MASS.

Notice is hereby given, that on the 15th of October next, a light-vessel will
be stationed S. by E. £ E. 1£ mile from the south part of Handkerchief Shoal,
off Monomoy Point, Massachusetts. This vessel is schooner-rigged, with a black
oval grating day mark at each masthead. Her hull is painted straw-color, with
the word “ Handkerchief” In large black letters on each side. She will show
every night, from sunset to sunrise, one fixed light of the natural color. The
vessel will be moored with a mushroom anchor of 3,500 pounds, and 90 fathoms
of 11 inch chain, in 5£ fathoms water. Monomoy Point Lighthouse bears N. E.
£ N., Shovelful] Shoals Lighthouse bears N. E. f N„ Great Point Lighthouse
bears S. £ W., Handkerchief, South part, buoy bears N. by W . £ W . Bearings
and courses are magnetic. By order of the Lighthouse Board,
MELANCTON SMITH, Inspector Second L. H. District
B oston, M assachusetts, September 25,1858.

FIXED LIGHT ON CAPE CULLERA— MEDITERRANEAN, COAST OF SPAIN.

The Minister of Marine at Madrid has given notice, that on and after the 1st
of August, 1858, a light would be exhibited from the lighthouse recently erected
on Cape Cullera, in the province of Valencia. The light is a fixed white light,
illuminating seaward, between the Grao or port of Valencia, and Cape San
Antonio, or on the bearings north, round -westerly to S. S. E. It is placed at an
elevation of 92 English feet above the level of the sea, and should be visible from
the deck of a vessel in clear weather at a distance of 15 miles. The illuminating
apparatus is dioptric, or by lenses, of the third order. The light-tower is round,
and rises from a circular building ; the whole painted light yellow. It stands on
the extremity of the cape, in latitude 39° 12p N., longitude 0° 13p west of
Greenwich. The bearings are magnetic. Variation 18£° west in ^158. By
order of the Lighthouse Board,
W ashington, September 25,1858.




THOENTON A. JENKINS, Secretary.

743

Journal o j Insurance.

JOURNAL OF INSURANCE.
MARYLAND INSURANCE LAW.
AN ACT R E LA TIN G TO FOREIGN CORPORATIONS OR ASSOCIATIONS FOR INSURANCE,
AND TH EIR AGENCIES IN THIS STATE.

PASSED MARCH 8 ,

1858.

1. Be it enacted by the General Assembly of Maryland, That from
and after the passage of this act. it shall not be lawful for any person or persons
to act as the agent or agents, within this State, for any individual or association
of individuals, or corporations, not incorporated and authorized by the laws of
this State, to make insurance on marine or fire risks, or insurance on lives, or to
make other insurances, or to receive or transmit offers for insurances to their
principals, or to receive or deliver policies of insurance, or any instruments in
the nature or to the effect of policies of insurance, or to advertise or offer to
make such insurances, or to receive and transmit such offers, or to receive or
deliver such policies, by publication in any paper, or by any card or circular, or to
open any office for the transaction of such business, although such individual or
individuals, or association of individuals, may be incorporated for such purposes
by the laws of any State, District, or Territory of the United States, or by the
laws of any kingdom, State, or nation, without first obtaining a license therefor,
in the manner hereinafter described.
S e c . 2. And be it enacted, That a license for the purpose of effecting insurances,
or receiving or transmitting offers for insurance, or receiving or delivering policies
of insurance, as expressed in the preceding section, shall be granted by the Con­
troller of the State to any person or persons, body or bodies, corporate or politic,
who shall apply therefor, and pay to the said Controller the sum of two hundred
dollars, for the use of this State; which license shall authorize the person or
persons, body or bodies, corporate or politic, to whom the same shall be granted,
to effect insurances, or to receive and transmit offers for insurances, or to receive
and deliver policies of insurances, as aforesaid, from the day of this date for the
period of twelve months thereafter, and no longer.
S e c . 3. And be it enacted, That if any person or persons, body or bodies, cor­
porate or politic, acting as agent or agents, as aforesaid, shall effect an insurance
or insurances, or affect to effect an insurance or insurances, or receive and trans­
mit an offer or offers for insurance, or receive or deliver a policy or policies of
insurance, as aforesaid, or advertise or circulate any card, circulars, or notice, or
open or keep any office for the transaction of said businesss, without a license
first had and obtained, as hereinbefore provided, he, she, or they shall forfeit and
pay for each offense the sum of five hundred dollars, one-half to the use of the
informer, who shall be a competent witness, the other half to be paid to the
Clerk of the Criminal Court of the city of Baltimore, as the case may be, for
the use of this State, to be recovered in the name of the State of Maryland, by
action of debt or indictment, in the Criminal Court for the county, or in the
Criminal Court for Baltimore city, where such offense shall have been committed,
and to be accounted for and paid into the treasury by the clerk receiving the
same, at the period limited for accounting for and paying moneys received for
license.
S e c . 4. And be it enacted, That the Controller shall annually publish, in at
least two newspapers, one of which shall be in the city of Baltimore, the names
of such agent or agents, so taking out license under this act, with the names of
the companies they represent.
S e c . 5. And be it enacted, That nothing in this act contained shall authorize
any agent or agents to act as such for more than one foreign corporation, individ­
ual, or association of individuals, by virtue of one license.
S e c . 6 . And be it enacted, That no license shall be issued to any person or
persons, as hereinbefore provided for, who has or have heretofore acted or held
himself or themselves out as agent or agents for any individual, or association of
S e c t io n




744

Journal o f Insurance.

individuals, or corporation, not incorporated by the laws of this State, as afore­
said, until such person or persons shall have paid into the treasury the sum of
one hundred dollars per annum for every year during which said person or per­
sons acted or professed, or held himself or themselves out to act, as such agent
or agents; and no license shall be granted to any person or persons to act as
agent or agents under this act, or any individual, association, or corporation, not
incorporated by this State, until the Controller shall be duly satisfied that all, or
any other agent or agents, by whom the said individual, association, or corpora­
tion, shall have been heretofore represented as the agent or agents thereof, has or
have paid into the treasury the annual license of one hundred dollars, provided
for and required by the act of eighteen hundred and forty-six, chapter 357, for
every year during which said agent or agents acted, or held himself or themselves
out to act, as agent or agents of said individual, association, or corporation.
S ec. 7. And be it enacted, That it shall be the duty of the Controller to ascer­
tain, from time to time, whether any of the provisions of this act have been
violated, and to give notice of such violations to the State’s attorney of the city
or county where the person or persons violating the same shall reside ; and it
shall be the duty of the said State’s attorney to give notice of the requirements
of this act to the person or persons violating the provisions of this law ; and
unless the said person or persons shall, within thirty days after said notice, ob­
tain a license, as hereinbefore provided, it shall be the duty of the said State’s
attorney to proceed to enforce the penalty, as provided for in the third section of
this act, and to give notice, by public advertisement, that all policies issued, or
insurances made by said agent or agents, after the expiration of the said thirty
days, are absolutely null and void.
S ec. 8 . And be it enacted, That in all cases in which any person or persons
shall be sued or prosecuted for any violation of this act, it shall be sufficient to
prove, in behalf of the State, either that the said person or persons did adver­
tise, or hold himself or themselves out by any publication, card, or circular, as
agent for the said individual, association, or corporation, or that he or they kept
an office or other place for the transaction of such business, or that he or they
did make insurance, or receive or transmit an offer or offers for insurance to his
or their principals, or that he or they did receive or deliver a policy or policies
of insurance, or an instrument or instruments of the tenor and effect thereof;
and it shall be sufficient to prove, that the name of the corporation set forth in
the suit or indictment, is that under and by virtue of which the said agent or
agents has or have professed to act, and the burden of proof, that such incorpora­
tion is not incorporated by the State of Maryland, but is incorporated by some
other State or nation, shall not rest upon the said State in any suit or prosecu­
tion, but it shall be incumbent upon the defendant or defendants, traverser or
traversers, to show that the corporation for which the said defendant or de­
fendants, traverser or traversers, may have acted as agents, was duly incorporated
by this State ; and whenever any person or persons shall profess or hold himself,
herself, or themselves out as agent for more than one corporation, individual cor­
poration, he. she, or they shall, upon proof of said holding out, be held and ad­
judged guilty of, aud both for as many separate offers under the laws as there
are or may be individual associations or corporations professed or held out to be
represented by him.
S ec . 9. And be it enacted, That the A ct of Assembly, passed at December
session, 1846, flhapter 357, entitled, “ An Act relating to foreign corporations
and their agencies in this State,” providing for the granting of licenses to in­
surance companies not incorporated by the State, be, and the same is, hereby re­
pealed ; provided, however, that all rights acquired by the State, under said act,
are hereby expressly reserved, and that nothing in this act contained shall pre­
vent the enforcing of the penalties incurred by persons who may have heretofore
violated this act.
S ec . 10. And be it enacted, That the provisions of this act shall not apply to
the agents of any corporation, association, or individual to whom a license has
been granted under the act of 1846, chapter 357, until the expiration of said
existing license.




745

Journal o f Insurance.

S ec . 11. And be it enacted, That this act shall take effect from the date o f its

passage.
T reasury D epartment, Controller’ s Office, A nnapolis, May 22d, 1858.

To obtain a license under the above act, the applicant must make affidavit
that he is not indebted to the State of Maryland for the annual license fee o f
one hundred dollars, required by the act of 1846, and that the company for which
he makes application, as agent, is not so indebted.
On the first day of July next, all agents who have failed to comply with the
requirements of the Act of Assembly of 1858, chapter 432, will be proceeded
against, according to the mode prescribed in the said act.
WM. H. PURNELL, Controller of the Treasury Department.

ENGLISH M ARINE INSURANCE.
PREMIUMS

OF

INSURANCE

AT

LIVERPOOL.

Outward.

Jam aica.....................................................................
Leeward Islands, Demerara, and B erbice...........
Honduras....................................................................
Havana.......................................................................
New York...................................................................
Charleston and Savannah........................................
New Orleans..............................................................
Canada and British North A m erica .....................
Newfoundland............................................................
B ra zils.......................................................................
River Platte...............................................................
East Indies................................................................
C h in a ..........................................................................
Batavia........................................................................
Australia, warranted................................................
Cape of Good Hope..................................................
Africa, west coast......................................................
G ibraltar...................................................................
Lima, Valparaiso, etc., warranted..........................
Malta. Sicily, etc., warranted..................................
Smyrna and Constantinople, warranted................
Malaga, warranted................................................... .
Madeira......................................................................
Western Isles and Cape Verdes.............................
Lisbon and Oporto.............................................. . .
Cadiz, warranted .....................................................
France ........................................................................
H o lla n d ......................................................................
Hamburg, Bremen, etc...............................................
Gothenburg and Stockholm.....................................
St. Petersburg, Riga, etc.. .......................................

20
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50
40
50
20
20
20
20
20
25
20
30
30

Warranted free from capture, seizure, detention, or the consequences of any
attempt thereat.
MASSACHUSETTS ACT

CONCERNING

MUTUAL FIRE

COMPANIES,

AN ACT TO AMEND AN ACT CONCERNING INSURANCE COMPANIES.

S e c t io n . 1. Be it enacted by the Senate and House of Representatives, in
General Court assembled, and by the authority of the same, as follows:—The thirtyninth section of the two hundred and fifty-second chapter of the acts of the year
eighteen hundred and fifty-six, is hereby so amended that any mutual fire insurance
company which shall hereafter be incorporated by the Legislature of this Common­
wealth, may issue policies of insurance when the sum of two hundred and fifty
thousand dollars shall have been subscribed to be insured, according to the pro­
visions of said section.
S ec. 2. This act shall take effect from and after its passage.
Approved March 27,1858.




746

Postal Department.

POSTAL DEPARTMENT.
UNITED STATES POSTAL REVENU E, 1858.

The subjoined tabular statement relating to the postal revenue of the United
States, presents a comparative view of the receipts for letter and newspaper
postage, registered letters, postage stamps, and stamped envelops, (being the
entire postal revenue,) in the several States of the Union, during the years end­
ing June 30, 1857, and June 30,1858. By reference to it, it will be observed
that there have been increased receipts during 1858 in the States of New Hamp­
shire, New Jersey, Delaware, Maryland, Virginia, North Carolina, South Carolina,
Georgia, Florida, Mississippi, Texas, Kentucky, Wisconsin, Louisiana, Tennessee,
Missouri, Illinois, Ohio, Indiana, Arkansas, and Minnesota, in the District of
Columbia, and in the Territories of Oregon, New Mexico, Nebraska, Washington,
and Kansas, while in the other States the receipts are less than in 1857. The
aggregates show an increase in 1858 of $125,675 91. Here is the statement:—
-Receipts.------------------- *

States.

Maine...................
New Hampshire.......
Vermont...............
Massachusetts..........
Rhode Island...........
Connecticut.............
New York...............
New Jersey............
Pennsylvania..........
Delaware...............
Maryland..............
District of Columbia..
Virginia.................
North Carolina.........
South Carolina.........
Georgia..................
Florida.................
Alabama................
Mississippi....... .
Texas....................
Kentucky..............
Michigan................
Wisconsin...............
Louisiana...............
Tennessee...............
Missouri................
Illinois..................
Ohio......................
Indiana.................
Arkansas................
Iowa....................
California...............
Oregon Territory......
Minnesota...............
New M e x ico .....................
Utah.....................
Nebraska..............
Washington............
Kansas.................
Total...............




1857.
$154,565 92
102,657 86
100,743 96
579,946 65
64,077 08
212,492 21
1,503,444 42
117,903 45
629,154 54
20,379 48
173,192 23
44,698 70
234,531 59
75,328 72
95,503 98
153,858 32
20,898 39
115,396 71
84,677 52
77,516 98
136.942 51
167,934 44
180,428 40
154,504 85
114,596 80
165,317 21
399,383 66
490,323 78
184,813 45
29,824 95
157,724 92
256,993 91
12,095 39
43.815 71
1,640 88
1,383 69
3,929 13
1,789 80
10,945 62
7,070,367 81

,----------- Expenditures.

1838.

1857.

1858.

$153,162 85
105,414 87
100,379 15
565,633 14
61,054 47
199,324 42
1,458,711 39
121,272 46
617,756 S5
21.822 03
176,018 63
50,902 16
242,951 08
81,405 08
101,144 66
161,616 86
24,683 43
111,091 69
88,458 48
85,449 40
140,049 04
165,882 09
185,228 41
180,042 11
118,813 61
190,180 02
440,865 58
503,019 06
192,548 23
35,726 54
156,791 90
256,746 42
13,576 46
51,781 46
1,759 88
1,300 24
9,079 17
2,426 36
21,984 03
7,196,043 72

$87,883 86
55,134 83
54,831 34
246,598 21
26,456 78
96,143 52
600,778 72
57,214 27
270,125 36
9,867 34
63,742 44
38,621 74
121,192 63
41,401 84
38,798 85
79,285 38
10,984 79
55,334 26
44,683 20
39,439 42
67,092 38
89,653 62
85,600 20
56,602 64
57,109 18
73,265 19
217,211 78
246,499 84
102,268 22
18,798 93
85,200 84
114,022 25
5,579 34
21,339 66
692 42
792 80
2,236 64
842 12
5,464 48
3,288,789 56

$88,983 32
57,604 43
64,870 23
247,993 50
26,194 35
95,646 95
628,161 37
60,277 87
282,225 50
10,215 02
64,120 52
39,595 71
126,139 29
43,119 24
41,011 93
80,817 44
12,284 95
60,489 54
47,830 31
43,934 66
67,875 58
90,722 69
89,236 10
61,166 44
62,951 46
85,978 79
250,101 15
255,989 60
107,000 84
22,231 08
89,400 93
106,506 23
6,132 66
27,247 54
766 16
721 29
4,928 49
1,427 18
11,535 68
3,453,444

02

Postal Department.

747

The expenses of the department during the year given above are for compensa­
tion to postmasters and incidental expenses of post-offices. There is yet to be
added to this side of the account the expense of transportation, which in 1857
amounted to an aggregate of $6,596,152 66, and it will hardly fall under that
sum during 1858. This statement exhibits an excess of expenditures in 1858
over 1857 in every State and Territory except Khode Island, Connecticut,
California, and Utah ; and the aggregate increase during the latter year is shown
to be §164,654 46, overbalancing the increase of receipts by §38,978 55.
In 1857, the expenses of the Post-office Department exceeded the revenue de­
rived from the postal service by §2,814,574 41, without including the foreign
mails on either side of the account. During 1858 the probabilities are that a
larger deficit will be exhibited.
POST-OFFICE REGULATIONS,
POSTAGE UPON LETTERS TO IN D IA .

We are requested to state that the regulations recently promulgated by the
British Post-office relative to the compulsory prepayment in full of postage upon
letters between the United Kingdom and the East Indies, (notices of which have
been extensively published in the newspapers of this country,) apply only to
letters posted in the United Kingdom addressed to the East Indies, and vice versa,
and do not extend to transit letters for India received from the United States.
The regulation for collecting the United States postage only upon letters
mailed in this country for India, via England, is therefore still in force—the single
rate of United States postage being 21. or 5 cents, according as the Atlantic sea
conveyance is performed by United States or British packets.
MAILS FOR GERMANY.

W e are requested to state for the information of the public, that mails for
Germany will be regularly made up and dispatched from New York by the
several lines of United States, Bremen, and Hamburg mail steamers, as follows :
By United States mail steamer to Bremen, on 30th October, 1858.
By Hamburg mail steamer to Hamburg, on 1st November, 1858.
By Bremen mail steamer to Bremen, on 6th November, 1858.
By Hamburg mail steamer to Hamburg, on 15th November, 1858.
By Bremen mail steamer to Bremen, on 20th November, 1858.
By United States mail steamer to Bremen, on 27th November, 1858.
By Hamburg mail steamer to Hamburg, on 1st December, 1858.
By Bremen mail steamer to Bremen, on 4th December, 1858.
By Hamburg mail steamer to Hamburg, on 15th December, 1858.'
By Bremen mail steamer to Bremen, on 18th December, 1858.
By United States mail steamer to Bremen, 25th December, 1858.
The rates of postage to Germany upon letters transmitted by either of the
above lines of mail steamers are precisely the same, being the regular established
rates “ by Bremen or Hamburg mail,” as published in the table of postages to
foreign countries.
Postmasters in the interior should forward at once to New York all letters,
&c., for Germany, mailed to go by either of said lines.
PR E PA Y M EN T OF POSTAGE TO SPAIN OPTIONAL.

We are requested, says the Washington Union, to state that notice has been
given by the British Post-office that the reduced rates of postage (in the British
mail) between the United States and Spain, including Majorca, Minorca, and the
Canary Islands, (which were published in the “ Union ” of 2d October instant,)
may now be paid in advance, or left to be paid on delivery, at the option of the
sender. Correspondents should be particular to prepay thz full postage chargeable
on a letter, or none at all, as partial prepayments of postage are not recognized or
credited by the exchange offices.




748

Postal Department.
POST-OFFICE DEPARTM EN T,

The following is a statement of the receipts and expenditures of the Post-office
Department for the quarter ending on the 30th of June, 1858, as exhibited by
the books of the Auditor of the Treasury for that Department:—
RECEIPTS.

Amount of letter p osta ge.......................................................................
Newspaper and pamphlet postage..........................................................
Postage for registered letters.................................................................
Stamps sold................................................................................................
Emoluments..............................................................................................

$216,298
140,790
6,661
1,434,096
18,174

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

53
72
80
85
93

$1,816,022 83

EXPENDITURES.

Postmasters’ compensation.......................................................................
Paid for ship, steamboat, and way letters..............................................
Incidental expenses of post-offices..........................................................

$587,414 79
4,471 53
271,954 20

Total....................................................................................................
Net balance due the United States........................................................

$868,840 52
952,182 31

The postage stamps and stamped envelops used and canceled amount to
$1,346,257 34.
TELEGRAPHS IN EUROPE.

The following table, says the Railroad Journal, shows the extent and popula­
tion of several countries, with the mileage of telegraph within the limits of each :—
Great Britain and Ireland............
France.............................................
Belgium...........................................
Holland...........................................
Germany, cfcc..................................
Switzerland....................................
Spain and P ortu gal.....................
I t a l y .......................................................

Turkey, Greece, <fcc........................
Russia.................................................
Denmark, Sweden, <kc..................

Extent,
square miles.
122,500
207,200
11,400
13,600
4 6 2 ,00 0
15,300
2 25,000

120,000
224,000
2,134,000
315 ,00 0

Population.
28,600,000
3 6,000,000
4 ,600,000
3 ,500,000
74,000,000
2,400,000
19,000,000
25,700,000
16,8 00 ,0 0 0
60,400,000
6,800,000

Telegraph,
miles.

8,000

7,000
600
600

10,000
1 ,500
600
2,500

200
6,000
1,000

Wires,
miles.
40,000
26,000
1,600
1,600
35,000

2,000
1,200
6,600
500

12,000
2,000

In Italy, Sardinia has the lai
share of the lines, having about 1,200 miles;
and in Germany, after Austria and Prussia, the largest share is due to Bavaria
which has 1,050 miles, and Saxony which has 400 miles. Wurtemberg has 195
miles. The distance of stations on the lines of continental telegraphs is between
10 and 11 miles on the average, and if taken at 10 miles, the whole number with
the mileage given above will be about 3,800.
CARELESS

POSTING.

The records of the Dead Letter Office show that there must be a great amount
of ignorance or of carelesness in regard to posting letters, and it is probable
that the latter preponderates. A careful business man pays the utmost attention
to preparing letters for the mail, and observes the rule of always looking over
the address of each one before depositing in the Post-office. During the three
months which terminated on the 30th ult. there were found 2,729 letters which
contained money, amounting in the aggregate to $12,921. For the quarter which
closed on the 30th June last there were received 4,549 letters, and $21,498 in
money. For the quarter ending 30th March, 2,472 letters, and $13,457 in money.
Quarter closed 31st December. 2,352 letters, and $13,361 in cash. Total in the
year, 12,102 letters, and $61,239 in money.




\

R ailroad, Canal, and Steamboat Statistics.

749

RAILROAD, CANAL, AND STEAMBOAT STATISTICS.
RAILROADS IN CHILE.

The track of the Copiapo Extension Kailway, running from Pabellow to
Chanarcillo, is now completed for a distance of twelve miles. On the 29th of
July, Mr. Taggart, the mechanical engineer of the Copiapo Kailway, made an
experimental trip over this new piece of road with the engine Chile, which was
highly interesting aud satisfactory. The engine passed with ease around the
sharp curves of 500 feet radius, and up the steep iuclines of that road, which
vary from 170 to 224 feet per mile, using steam of 100 pounds pressure expansively
cutting off at half stroke, in cylinders of 101 inches, with wheels of five feet
diameter, until she reached the terminus, at which point the engine stood at an
elevation of 4,075 feet above the ocean, which is over 1,000 feet higher than any
engine ever climbed before. The summit of the railway from Vienna to Trieste,
over the Simmesaag, in the Alps of Austria, is supposed to be the highest
previously crossed by a locomotive. This summit is less than 3,000 feet above
the sea. The summit of the Blue Ridge in Virginia, on the Baltimore and Ohio
Kailway, supposed to be the next highest, is less than 2,700 feet. The summit
of the Copiapo Extension Railway, which is at the distance of two miles from
the present terminus of the railway, is 4,470 feet above the sea. Before the
return of the next celebration of Chile independence, steam will have surmounted
this high point, and the shrill whistle of the locomotive will have sounded its
exulting cry among the hills of Atacama, at an elevation of 1,400 to 1,500 feet
higher than in any other part of the world. This is a point in the progress of
railways worthy of note. It leads the reflecting mind to believe that the day is
not far distant when the locomotive will find its way to the summit of the Cor­
dilleras, opening new channels of commerce and wealth to the natives on the east
and the west.
The Copiapo Extension Railway is being built under the direction of Mr. W .
W . Evans, for an English company. It is reported that another railway, to
connect the rich silver mines of Tres-Puutas with the Copiapo Railway, a distance
of fifty-four miles, will soon be commenced for another English company, under
the direction of Mr. Evans. This road will have its terminus in the desert of
Atacama, at an elevation of over 5,000 feet above the sea. On the whole route
there is no vegetation, nor is there any water, nor does it ever rain in this region.
Vet at these mines, so high in the mountains and so far from the actual sources
of luxury, are often to be found on the tables of the miners the choicest wines
and the most costly delicacies which money can produce. Mines which can yield
metal worth from thirty to thirty-four thousand dollars a ton, can well afford to
indulge its directors in luxuries, and laugh at all expenses. During the “ Fiestas,”
the common creek miner can often be seen indulging his own and his Senorita’s
fancy for a drink in a punch, which costs him an ounce of gold. The line of
this railway to Tres-Puntas has rich copper mines on both sides for most of the
distance. Besides the silver mines at the terminus there are also many gold
mines. It remains to be seen what other mineral wealth will be developed in this
truly wonderful metallic region when this railway is completed.




750

Railroad, Canal, and Steamboat Statistics.
R AILW AY PR O PE R TY IN GREAT BRITAIN.

The following resolutions which were adopted by the Eailway Shareholders’
Association in Great Britain on the 31st August, 1858, are suggestive at this
time to similar interest iu the United States :—
First. That in the present depreciated condition of railway property, it is
desire,ble that the directors and shareholders should co-operate with each other
for the following purposes :—
1st. To lay down some general principles and rules applicable to the manage­
ment of their undertakings, so that ruinous competition may in future be avoided,
and railway property rendered a more sound and profitable investment.
2d. To settle and fix an equal scale of rates and fares for all companies having
common termini, so that the greatest amount of net profit m ay be secured to
each of them. To limit speed at which the trains shall be run by companies,
which traverse the same districts, and to prevent the funds of existing companies
being applied towards the promotion of new lines.
3d. To agree by mutual consent on one uniform system of railway accounts,
and on the policy of placing capital and revenue under separate guardianship
and control.
4th. To call the attention of Her Majesty’s Government and the Legislature
to the injustice inflicted on railway shareholders, without any permanent ad­
vantage to the country, by the formation of competing lines, whilst, the existing
companies are bound down by maximum rates and fares for the public protection ;
and to agitate for the appointment of a permanent, impartial, and responsible
tribunal, to investigate and report on the merits of private bills in the place of
Parliamentary committees.
5th. To obtain the promised alteration in the law applicable to the rating of
railway companies for parochial and local purposes—a modification of the
passenger tax— an amendment of Lord Campbell’s act—and a more equitable
arrangement with the Post-office authorities iu reference to transmitting merchan­
dise through the mail bags.
Second. That copies of the above resolutions be forwarded to the secretary of
each railway company, and that the shareholders be earnestly requested to join
this committee, and to contribute towards the expenses which must necessarily
be incurred in accomplishing the objects we have in view for the protectiou and
restoration of railway property.
BALTIMORE AND OHIO RAILROAD.

The financial year of the company closes with September. A comparison of
the revenue of the past year with that of the year ending September, 1857, ex­
hibits the following results :—

1856-57F

October.........................................
November.....................................
D ecem ber....................................
January.........................................
February ......................................
March............................................
A p r il............................................
M a y ..............................................
June...............................................
July...............................................

August....................................
September....................................

Total...............................
“

1 8 5 7 -5 8 .........................
D ecrea se present yea r.




$470,415
422,218
462.085
297,681
350,877
545,447
459,430
381,736
420,828
441,800
447,910
445,490

34
45
96
87
13
81
53
17
22
81
47
75

$5,145,573 4t>
4,610,100 01
$535,733 45

1857-58.
$396,191
366,488
381,143
320,131
280,373
441,649
485,596
401,752
402,591
365,269
371,288
397,621

85
79
42
87
98
38
85
76
75
53
60
25

$4,610,100 01

751

R ailroad, Canal, and /Steamboat Statistics.
TH E

CAN ADA ‘ C A N A L S .

The Welland Canal is one of the most important of the public works of
Canada, and has already contributed largely towards the trade of the province.
The canal connects the waters of Lake Erie with those of Ontario, having a
length of twenty-eight miles from Port Colborne, on Lake Erie, to Port Dalhousie, on Lake Ontario, showing, by the locks, a total fall of 330 feet between
the two lakes :—
TONNAGE OF PROPERTY AND VESSELS, UP AND DOWN.

1855.
W e lla n d Canal
A l l o t h e r s .. . .

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

3,821,000

1856.

1,900,800
2,069,200

2,155,800
2,522,200

4,070,000

4,678,000

The length of these several canals is 69 miles, and 22i of the feeders.
Length.
W eU and.

28

Lockage.

330

— Width.------ ,
Bottom.
Top.

45

81

50
50
50
50
100
80
80

90
90
90
90
150
120
120

ST, LAWRENCE CANALS.

G a lop s...............
PoiDt Iroquois
R a p id P l a t . . .
F arran’s Point
C orn w all..........
B e a u h a rn o is ..
L a ch in e ............
T ota l

2
3
4
£
lli
ll£
8i

8
6
11J
4
48
82i
44£

69

534£

The obstacles presented by Niagara Falls and river, (330 feet,) are thu3 over­
come by the Welland Canal, while the remaining fall of 234 feet is so distributed
(between the head of Lake Ontario and the foot of the St. Lawrence) as to be
overcome by steamers in their descent, and by sailing vessels through the canals
where the rapids are too strong. Steamers run daily direct from Lewiston to
Montreal, and thence to Quebec; but on their return they use the canals.
Besides the canals above enumerated, there is Rideau Canal, from Ottawa to
Kingston, constructed at a cost of $3,860,000 by the home government. This
work was commenced in 1826. is 1261 miles—number of locks 47, with a fall of
457 feet.
Port Colborne, where the Welland Canal opens, is in Welland County, distant
from Hamilton 45 miles, and from Buffallo 23 miles. The export is largely in
wheat.
Port Dalhousie, the lower terminus of the Welland Canal, is a port of entry
in Lincoln County. The harbor is one of the best on Lake Ontario, distant
from Toronto, by water, 30 miles ; from Hamilton, 36 miles. The exports are
mainly in wheat and flour.
St. Catharines is an incorporated town on the Welland Canal, in Lincoln
County ; a section of country termed the “ Garden of Canada West.1' It is
distant from Niagara, the county town, 11 miles ; from Niagara Falls, 12 miles;
from Hamilton, 32 miles ; population 7,000. St. Catharines is also on the Great
Western Railway, leading from Niagara to Detroit, and is noted for the mineral
artesian well.




752

Railroad , Canal, and Steamboat Statistics.
RAILROADS

IN I O W A ,

The following resolution was passed on the 12th of October, by the Dubuque
City Council :—
Whereas it appears that the people o f this city have heretofore at different
times voted loans for railroad purposes, amounting to the sum of $1,650,000, tow i t :—
For the Dubuque and Pacific R ailroad.......................................................
§200,000
“
Dubuque Western Railroad............................................................
250,000
750,000
“
Dubuque, St. Peter, and St. Paul Railroad...................................
“
Turkey River Valley Railroad........................................................
200,000
“
Southern Wisconsin Railroad...........................................................
150,000
“
Dubuque and Bellevue Railroad.....................................................
100,000
Total..........................................................................................................

§1,650,000

And whereas it appears further, that only a portion of said bonds have been
issued up to this time, to-wit :—$450,000 ; $200,000 for the Dubuque and Pacific
Railroad, and $250,000 for the Dubuque Western Kailroad, and whereas from
the great commercial distress now pervading the country, the want of confidence
in the money market of the East, affecting the West, and the heavy taxes neces­
sary to impose in such case, it is inexpedient and unwise to negotiate any more
bonds for railroad purposes,
Resolved, That hereafter this council will not authorize, countenance, or con­
sent to the issuing, sale, use, or negotiation of the bonds above described, or any
part thereof, or any transaction, arrangement, or scheme which shall require the
issue or expenditure of money other than for the payment of interest already
contracted for, from the city treasury for railroad purposes.
TENNESSEE RAILROADS,

The road commissioner of Tennessee states that there will be more iron laid
in Tennessee this year than has ever been laid in any one year, viz. :—
The East Tennessee and Virginia Road has laid........................... miles
The Cleveland and Chattanooga will lay..................................................

27
SO

In East Tennessee................................................................................
Winchester and Alabama...........................................................................
Tennessee and Alabama.............................................................................
Louisville and Nashville..............................................................................
Edgefield and Kentucky..............................................................................

57
15
15
30
30

In Middle Tennessee............................................................................
Mobile and Ohio will lay.............................................................................
Memphis and Ohio will lay.........................................................................

90
60
25

In West Tennessee..............................................................................

85

Total in the State...........................................................

232

There are now in active operation in Tennessee, 679 miles of railroad. By
the 1st of January next, there will be 875 miles running ; and January, 1860,
the number of miles in active operation will be 1,146.
STATE INTEREST IN RAILROADS,

The State of Virginia reserves to herself the right to tax the railroads of the
Commonwealth one mill per mile on every passenger carried over her roads.
In accordance with this provision, we learn that the amount paid by the Virginia
and Tennessee Railroad, into the Treasury of the State, on account of passengers
transported over the road during the six months ending the 30th of September,
was $4,070 35.




Railroad, Canal, and Steamboat Statistics.

753

RAILW AY MANAGEMENT.

A plan put forward by Mr. Thomas Wrigley, of Bury, Lancashire, for the
government and working of railways, so as to render it impossible for the capital
account to be tampered with, has deservedly attracted favorable notice. He
would have in each case two sets of officers, one of whom should hold the
property of the line as trustees, while the other should work it as tenants. It
would be vain, however, to hope for any recognition of the advantages of the
scheme from boards of directors, although they might easily carry it out by a
simple division of their functions. Shareholders must act if they wish anything
done, and there is little encouragement to believe that anything will overcome
their apathy. The prospect, nevertheless, is that a general adoption of the pro­
posal would at once lead to an improvement in the market value of every de­
scription of railway security.
FRENCH

RAILROADS.

The various French railway companies intend to introduce into their service
several important ameliorations, which will tend to give to families much
additional comfort in first-class carriages. Special carriages are to be constructed,
composed of saloon, bedroom, and ante-room, which may be engaged at a special
tariff. A family, composed of five or six persons, may thus undertake the long­
est journey with but little fatigue, and, if necessary, take their servants to wait
on them.
CANAL TRADE IN VIRGINIA.

The clearances at the Lynchburg toll office of the James River and Kanawha
Canal during the fiscal year, commencing 1st October, 1857, and ending 30th
September, 1858, were as follows :—
Wheat.......................................................................................................... bush.
Flour..............................................................................................................bbls.
Leaf tobacco.................................................................................................. lbs.
Manufactured tobacco......................................................................................
Tobacco stems..................................................................................................
Copper ore........................................................................................................
Bar and pig lead..............................................................................................
Fig iron........................................................................................................ tons.
W ood for fuel............................................................................................cords.
Miscellaneous.............................................................................................. tons.
Total tonnage for the year.............................................................................
Excess of total tonnage over fiscal year 1856-57......................................

528,072
64,178
8,016,447
6,811,145
1,721,760
694,569
951,333
2,276
4,557
15,000
57,691
16,649

VERMONT AND CANADA RAILROAD.
EARNINGS AND EXPENSES FOR SIX YEARS, FROM JULY

Date.

185218531854185518561857-

Earnings.

53....................................
54....................................
55....................................
56....................................
57 ....................................
58....................................

T o t a l....................................
V O L. X X X IX .-----N O. V I.




$679,601
796,378
722,326
756,945
808,327
705,837

TO JULY

Expenses.

57
66
01
64
87
61

$4,478,417 26

48

1, 1852,

$409,780
602,102
699,550
551,749
658,719
597,319

23
13
85
26
63
68

$3,429,221 68

1, 1858.
Net.
$269,821 34
194,276 53
112,775 16
214.196 28
149,608 24
108,518 03

$1,049,195 58

751

Journal o f M ining , Manufactures, and A rt.

JOURNAL OF MINING, MANUFACTURES, AND ART.
HARDENING IRON.

Every improvement in the manufacture of iron, which is to us the “ King of
Metals,” is to be hailed by the productive world as a positive blessing ; and how­
ever slight those improvements may be, they deserve the attention of the chronicler’s
pen ; how much more so, then, when they are important and practical, as are
those we are about to mention.
The first is the invention of a French clergyman— Charles Pauvert, of Targe,
France—and consists in purifying iron by chemical means. He places the iron
in the cementing furnace with 33 parts by weight of finely powdered charcoal,
33 parts of highly aluminous clay, 33 parts of carbonate of zinc or wood ashes,
1 of carbonate of soda, and 1 of carbonate of potash. This produces an iron
which has all the properties of the best steel, and it will not lose any of its
properties by being heated or drawn out. These substances by chemical action,
when heated together, present the carbon in the best possible state to combine
with the iron. The method of producing cast steel from this is by melting it in
a crucible with about 5 to 6 per cent of the following mixtures :—4 parts of dry
carbonate of soda, 3 parts of dry carbonate of potash, 3 of wood ashes, 2 of
borax, 3 of oxyd of manganese, and from 4 to 7 parts of charcoal, or some highly
carbonaceous body. The 4 parts of carbonate of potash may be replaced by 2
parts of caustic potash. This produces a steel of superior quality, and with
more certainty than by the old method. M. Pauvert patented his invention in
this country March 23,1858.
The next invention is that of an Englishman—G. J. Fanner, of Birmingham,
England— which consists in using ferrocyanide of potassium, hydro-chlorate of
ammonia, and nitrate of potash in equal proportions. These are reduced to a
fine powder and incorporated, and a bath made of the same substance dissolved
in cold water, the prussiate of potash two ounces, the sal-ammoniac four ounces,
and the saltpeter two ounces to every gallon of water. Having now the powder
and the bath, the article to be hardened is heated in an open fire or furnace, and
rolled in the dry powder until the surface is covered with a pellicle of fused pow­
der, and then it is plunged in the bath where it is left until cold, and when per­
fectly cooled the mass is hardened. Large masses can be thus rendered extremely
hard, but it seems to us to be especially applicable to the hardening of tools,
journal bearings, and the like. This process was patented in the United States,
April 6,1858.
Last, but not least, comes an American invention, that of Horace Vaughn, of
Providence, B. I., and patented by him March 30, 1858. He employs two
pounds of bi-chromate of potash, twrelve pounds of chloride of sodium, and four
pounds of prussiate of potash ; these ingredients are powered and mixed together,
and they are placed in an iron box, where they are covered with powered char­
coal, and heated in a proper furnace. The articles to be hardened are then placed
in the mixture, and the whole heated until the mixture is in a state of igneous
fusion, when they are removed and dipped into water, oil, or certain solutions in




Journal o f M ining, Manufactures, and A rt.

755

the usual manner. The proportions for hardening wrought iron are different,
being 25 per cent of prussiate of potash, 65 per cent of chloride of sodium, and
10 per cent of bi chromate of potash ; bone ash or animal charcoal, or both, are
then added, and the whole is reduced to a state of igneous fusion, and the articles
to be hardened are then put in.
Nearly all the inventions of late for hardening iron have been the result of
chemistry, and we think that the more perfectly the chemical changes which occur
in the transmutation of iron into steel are understood, the nearer we shall be to
that great desideratum, making steel directly from the ore, which is the end to
which all improvements in iron manufacture are tending.

MANUFACTURING AT THE SOUTH.

Scottsville, Alabama, is a flourishing manufacturing village. It was originally
known as the Tuscaloosa Manufacturing Company. It was incorporated by the
Alabama Legislature in 1837, with a capital stock of $36,000, which sum was
quickly subscribed by a number of capitalists in Tuscaloosa.
In May, 1837, the mills got to work, making coarse cotton cloths, but for
some years they made no money. The company and the locality soon changed
names and management; the latter coming into the hands of Mr. Scott as prin­
cipal owner and director, and the place itself took the name of Scottsville. He
immediately went to work making improvements and additions to the buildings
and machinery, and the mills soon paid dividends. The first §2,200, realized in
1841, was expended in a family of negroes to work in the factory. This family
has so increased that the company values them at §10,000, and most of them are
now working in the factory, and are very useful. The company have made
several purchases of negroes with the profits of the factory, and negro labor is
much employed by them.
The principal mill is a large brick building of three stories, with two wings,
filled with the best machinery, and employing over one hundred hands, of whom
three-fourths are females. A large overshot wheel, driven by water, is the
principal motor of the machinery. There are about 25,000 spindles and 50 looms
at work.
Wool and cotton are both spun. The consumption of cotton averages 35,000
pounds per month, and §1,000 worth of yarns in the same time, together with
a large quantity of linseys and a superior article of cotton sewing thread.
In 1841, the sum of §40,000 capital stock had been paid in. Every year since
then a dividend of ten per cent has been declared, which has been laid out in
buying negroes, land, &c., adding to the buildings and machinery in the village,
until the capital stock has increased to §117,000, of which §25,000 is in negroes,
and about §16,000 in goods in the company’s store.
The company owns 3,000 acres of land, and all the buildings on the place,
which consist of the factory, a large hotel, the store, blacksmith, carpenter, wheel­
wright, and boot and shoe shops, a saw mill, grist mill, large flouring mill, a
church, and a large number of cottages. No liquor is permitted in the village,
and the company will not sell an inch of its land to any one. Its stock has long
been over par, and its dividend this year will be at ieast twelve per cent.
So much for enterprise, governed by steadiness, perseverance, and skill.




756

Journal o f M ining, Manufactures, and A rt.
THE IRON TRADE OF THE UNITED STATES.

In a history of the rise and progress of the iron trade of the United States,
just published by B. F. French, the following statistics are given :—
TABLE OF RAIL MILLS IN THE UNITED STATES, WITH THEIR CAPACITY TO MAKE, IN
AND 1857.

Names.
Where located.
Bay S t a te .................Boston, Massachusetts..........................tons
Rensselaer................. Troy, New York............................................
T renton.................... Trenton, New J e rs e y ...................................
Phoenix...................... Phcenixville, Pennsylvania..........................
Montour...................... Danville, Pennsylvania................................
Rough and Ready....
“
................................
Pottsville.....................Pottsville, Pennsylvania..............................
Lackawanna............ Scranton, Pennsylvania.................................
Safe Harbor............ On Susquehanna, Pennsylvania................
Mount Savage.........Cumberland, Maryland...................................
Cambria.................... Johnstown, Pennsylvania.............................
Brady’s B e n d .......... Brady’s Bend, Pennsylvania.......................
Washington...............Wheeling, Virginia.......................................
Covington.................Covington, Kentucky.....................................
Railroad M ill............ Cleveland, Ohio.............................................
Newburg Mill...........
“
........... ..............................
W yan dotte...............Detroit, Michigan.........................................
Gate C it y ................. Atlanta, Georgia............................................
Palo A lto...................Pottsville, Pennsylvania...............................
Newburg................... Newburg, New York....................................
Total

1854

1854.

1857.

15,000
4,000
10,000
13,688
16,000
4,600
1,676
10,982
10,175
7,000
1,806
8,700
4,500

17,801
13,512
16,000
18,590
22,502
5,500
3,021
11,338
17,528
7,357
7,159
13,206
2,355
1,976
1,976
1,800
6,000
18,000
1,800
1,200

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

....

108,027

188,701

The progress of iron manufacture in the Western States is wonderful, and
continues unabated. The consumption of pig iron in these States was estimated,
in 1857, at over three hundred thousand tons, of which Pittsburg consumed
more than one-half in her manufactures. I d that city there are twenty-five iron
and steam rolling mills, which consume—105,333 tons of pig iron...............................................................................
$3,159,900
27,267
“
blooms ..............................................................................
2,181,361
4,931
“
scrap iron............................................................................
186,440
2,550
“ Swedes and rolled iron.....................................................
178,500
6,187,615 bushels of coal.................................................................................
251,500
118,000
“
coke................................................................................
5,900
5.040 tons of ore........................................................................................
120,696
5.040
“ fir e c la y ...............................................................................
21,500
2,095,000 fire b rick .................................................................................................
41,900
51,860 gallons of oil and grease................................................................
53,034
Small items to amount of.......................................................................................
43,000
Total...........................................................................................................

$6,243,820

They employ 4,433 hands, whose yearly wages amount to.......................
The capital in the ground, building, and machinery employed in prose­
cution o f the business is..............................................................................

2,366,020
3,280,000

COPYING-PAPER.

The paper is impregnated with a preparation of iron, say the protosulphate of
iron, by any convenient means in the manufacture of paper (that is to say when
the paper is in the pulp ;) or, after it is made, it can be passed between feltcovered rollers supplied with a solution of the protosulphate or other suitable




Journal o f M ining, Manufactures, and A rt.

757

preparation of iron. A letter written with common writing ink, having an in­
fusion of nut-galls, or the tanno gallate of iron, as its base (or any ink containing
tannin,) when covered with a damp sheet of the paper prepared as above shown
and squeezed in a “ copying-press,” will give a good copy ; or by adding to the
ink above mentioned a little pyrogallic acid and sugar, such writing, when
covered with a damp sheet of copying paper, will yield a good copy by the simple
pressure of the hand. It is only necessary to put a sheet of blotting-paper or
oil-paper between the damp copying-paper and the hand, and then rub over the
writing firmly, as in the act of blotting a letter, thus dispensing with the use of
any copying-press. This process has been patented in England by James Hogg,
of Edinburgh, Scotland.
BRITISH

COAL

TRADE.

The following table shows the total quantities of coal exported from Great
Britain to each country specified during the month—the total quantity exported
during the corresponding month of last year ; and the total quantity exported
from January 1st to July 31st, in each year :—
France....................................... .tons
Denmark....................................
Norway......................................
Sweden......................................
Russia........................................
Austria......................................
Germany....................................
Prussia.......................................
Holland.....................................
Belgium.....................................
S p a in ........................................
Portugal....................................
Italy...........................................
Mediterranean..........................
G reece......................................
Turkey.......................................
Africa.........................................
Australia..................................
East Indies...............................
West Indies..............................
North A m erica.......................
South A m erica.......................
Channel islands........................
Heligoland.................................
Iceland.......................................
Azores........................................
Canaries....................................
Madeira......................................
Ascension...................................
St. H elena...............................
New Zealand.............................
Sandwich Islands.....................
Society Islands.......................

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

July, 1858.
1‘20,069

2

July, 1857.
143,016
45,384
13,079
19,830
61,867
7,955
54,240
46,314
27,115
8,810
22,598
5,288
12,019
21,764
3,270
35,643
22,532
1,220
36,517
5,417
29,139
31,347
5,629
75
394
440

660,898

January to January to
July, 1858. July, 1857.
758,275
768,518
182,953
241,4 28
47,011
53,241
107,044
83,942
235,812
192,327
68,559
55,195
384,787
354,247
227,028
192,646
130,914
133,850
31,140
37,524
146,705
119,479
65,731
32,507
92,696
99,746
158,442
129,303
20,143
16,639
119,002
116,354
102,092
109,151
11,048
19,409
192,659
237,636
122,440
103,294
275,179
156,116
157,538
167,257
32,728
33,809
95
2
230
1,105
1,867
165
3,860
7,544
8,613
5S5
6,653
1,280
1,557
515
102
26
1,171
....
3,643,787

3,504,126

Decrease in July, 1858, compared with July, 1857, 19,115 tons.
Increase
from January to July, 1858, over the corresponding period of 1857,139,661 tons.




758

Journal o f M ining , Manufactures, and A rt.
TH E BRITISH WOOLEN TRADE,

A t a recent meeting of the “ British Association” Mr. E. Baines read a very
valuable paper on “ the Woolen Manufacture of England.” In 1799, the British
imported 2,263,000 pounds of foreign and colonial wool, and in 1857,127,000,000,
of which 90,000,000 was retained for home consumption and the rest exported.
“ The total value of the woolen and the worsted goods and yarn exported last year
was £13,645,000 ; it having been much checked during the last ninety years by
the introduction of the cotton manufacture, of which, in goods and yarn,
£38,289,000 worth was exported last year.” He thought it not safe to assume
that there were more than 150,000 operatives engaged in the woolen trade and
125,000 in the worsted trade, making 275,000 together, while the total number
of persons directly dependent upon the trade might be set down at 837,500, (in­
cluding the -workers,) there being a larger number of dependent workers in
auxiliary trades than in connection with any other manufacture, raw cotton and
silk being wholly imported, and flax very nearly so. The wages of those en­
gaged in the wmolen manufacture would average 12s. 6d. a week for each man,
woman, and child, making for the 150,000 workers £4,875,000 a year. The
annual value of the woolen manufacture of the kingdom might be thus stated,
and certainly with the reliance that the figures were not excessive :—Foreign
and colonial wool, 79,903,000 pounds, worth £4,717.000 ; 80,000,000 pounds of
British wool, £5,000,000 ; 30,000,000 pounds shoddy, at 2Jd., and 15,000,000
pounds mungo, at 4Jd., -worth £609,000; cotton and cotton warps, £206,000;
making about ten-and-a-half millions sterling for materials. Then there came
dye wares, oils, and soap, £1,500,000 ; wages, £4,875,000 ; rent, wear and tear,
interest, profit, etc., £3,381,000 ; making a grand total of £20,190,000 as the
value of the woolen manufacture of the kingdom. The paper occupied an hourand three-quarters in reading, and Mr. Baines referred, in illustration, to nearly
a score of elaborate tables. Amongst many other things dwelt upon Mr. Baines
minutely explained the peculiarities of the trade of the three districts united to
form “ the Leeds clothing district.” He especially described the origin and
growth of the shoddy and mungo trades, of which Batley is the center ; and he
argued that— fairness of dealing being of course implied—those trades were in
almost every sense an advantage, especially for their making again useful cloth
of rags once thrown aside as useless.

COTTON AND ITS MANUFACTURES.

Mr. Thomas Bazlev read a paper before the British Association, from which
we briefly take the following figures and calculations :—In 1758 the cotton con­
sumed in Great Britain was about 3,000,000 pounds ; this year it would probably
be 100,000,000 pounds. The exports of cotton last year were shown by the
Board of Trade returns to represent upwards of £39,000,000 sterling ; this year,
the exports would probably reach £40,000,000, while for home consumption
£24,000,000 worth would be taken, representing about 17s. per head for each of
the population. The total value of the cotton manufactures of the world could
not be set down at less than £140,000,000 sterling ; which was equal to 3s., or 14
yards of calico per year for every man, woman, and child. The amount paid to
cotton workers, as wages, with interest, rent, taxes, &c., was about £40,000,00 0




Journal o f Banking , Currency, and Finance.

759

a year ; more than half-a-million of workers were employed, and, upon the average
of three non-workers dependent upon each, 2,000,000 were supported directly by
the trade, the number being very greatly increased by those who lived from the
constructive departments. There were about 30,000,000 spindles working in
Great Britain, with great numbers of power looms and other machines ; warrant­
ing the assumption that the invested capital was more than £50,000,000 sterling,
which would be raised to upwards of £100,000,000 if the auxiliary trades were con­
sidered. Liverpool, which so greatly depended upon the cotton trade, was in
1758 little more than a bathing and fishing station, and its tonnage probably did
not exceed 100,000 tons; now, that tonnage was about 5,000,000. In 1758,
Manchester and its suburbs could not boast of 20,000 people ; at present, 500,000
would not bo an incorrect estimate—showing the potency of mechanical skill,
and the success of mercantile and manufacturing energy. About one-eighth of
the cotton consumed in Great Britain was used for calicoes for printing.

MACHINERY FOR MANUFACTURING PAPER-HANGINGS,

The method of cylinder printing, as applied to the manufacture of paperhangings, has wonderfully reduced the price as well as improved the quality of
that article. Nor is it at all difficult to see how the cylinder method should
bring about a lower rate of cost than the block method. Calico printing has
borne witness to an analogous fact, and, indeed, the analogy is very close
throughout. In the one case cotton, and in the other paper, is made in one con­
tinuous length, and in both cases this length is wound round a beam or roller ;
in both cases there are engraved cylinders, as many as there are to be colors, and
each having a device of its own ; there are as many troughs as cylinders of colors;
the cylinders feed themselves with color, but in such a way as to take up the
color on the raised parts in one case, but on the sunk parts in the other ; the
endless web is drawn in between rollers, and made to pass over all the color-wetted
cylinders in succession ; the complete pattern is seen to be printed by the time
the material leaves the machine, and the printed strip undergoes a rapid drying
process.
COST OF ELECTRIC-LIGHT,

M. E s m o n d B f.c q u e r e l , a French savant, has been recently engaged in some
experiments with a view to determine the comparative cost of electricity as an
illuminating agent. He used a battery of zinc and platinum, made with strict
attention to economy, and the results were as follows :—
The standard is the light of S50 candles of the best quality, and the cost of—
Coal gas, at $1 60 per 1,000 cubic feet was........................................................
$0 35
Oil, (rape-seed,) at 17 cents per p ou n d ...............................................................
0 65
Stearine candles, at 32 cents per pound...............................................................
2 52
W ax candles, at 52 cents per pound.....................................................................
3 12
Electric light.............................................................................................................
0 58

Thus showing that although the electric light is cheaper than candles, it will
not at present compete with coal gas, at least until some cheaper battery power
be found.
A t the New York prices,$2 50 per 1,000 feet for gas, and the Brooklyn price,
§3 per 1,000 feet, gas is the dearest.




760

Statistics o f Agriculture, etc.

STATISTICS OF AGRICULTURE, &c.
AGRICULTURE IJV OHIO.

In our number for July, 1858, page 100, we gave the statistics of Ohio as
prepared by E. D. Mansfield, Esq., Commissioner of Statistics for the State of
Ohio, under the law of April 17, 1857. The figures there contained are very
interesting and full. We now append extracts from the Ohio Agricultural Report
for last year, prepared by Mr. J. H. Klippart, Corresponding Secretary of the
Ohio State Board of Agriculture. It will be observed that the figures vary in
some respects from those of the Commissioner of Statistics. He gives, as an
instance, the average of wheat for 7 years at 14 bushels per acre ; Mr. Klippart
gives it for 1857 at 10 bushels per acre. The present report applies to the year
1857, while that of the Commissioner applies to several years :—
SUPERFICIES OF OHIO.

Mr. Klippart represents the superficies of Ohio, and its agricultural divisions,
as follows :—
Superficies o f Ohio, including Lake Erie, to the boundary liue.sq. miles
Land surface, as returned by the United States Land-office................
Land..................................................................................; .................... acres
Land occupied or attached to farms........................... ..............................
Land actually cultivated, (in 1857,)............................................................
Land actually cultivated, consists of plow la n d .......................................
Land actually cultivated, consists of meadow..........................................
Orchards, gardens, and yards.......................................................................
Roads and public improvements...................................................................
Town lots..........................................................................................................
Woodlands—unoccupied and uncultivated.................................................
Of this there belongs woodlands to farms in cultivation.........................
Wild lands belonging to non-residents........................................................
Land-owners, exclusive of owners of town lots.......................................
On 1st April, 1857, there were government lands....................................
Average amount of land held by each person, about................................

42,500
39,965
25,575,950
19,800,000
11,583,731
6,526,161
3,705,810
800,000
424,000
27,760
13,479,310
8,640,000
4,939,310
277,000
38,182
86

PRODUCTION OF CEREALS.

The production of cereals is mainly confined to Southern and Middle Ohio.
The Western Reserve, embracing a tract of 8,300.000 acres, is best adapted to
grazing and dairy purposes. In 1850 not a county within the original limits of
the Reserve produced 100,000 bushels of wheat, nor did any, excepting Huron
and Erie counties, produce 500,000 bushels of corn— Geauga County produced
the least of any of the Reserve Counties, viz. :— 26,426 bushels of wheat and
129,259 of corn. That year, however, was rather below ihe average of produc­
tiveness in cereals. The number of acres sowed in wheat in 1856, in the State
of Ohio, was 1,478,164, producing 15,333,837 bushels ; an average of ten bushels
per acre. Acres of corn planted the same year, 2,084,893, producing 57,852,515
bushels; an average of 27 bushels per acre. Butler was the only county in the
State that produced more than 600,000 bushels of wheat. Montgomery only
produced over 500,000 and under 600,000 ; Green, Stark, and Preble only pro­
duced over 400,000 and under 500,000. In 1850 Stark alone produced
1,000,000. Brown, Champaign, Clark, Darke, Fairfield, Highland, Miami,
Muskingum, Ross, Warren, and Washington produced over 300,000 and under
400,000 bushels; Adams, Belmont, Clermont, Clinton,Franklin.Hamilton, Lick­
ing, Monroe, Morgan, Perry, Pickaway, Richland, Seneca, Tuscarawas, and
Wayne produced over 200,000 and under 300,000. From this it appears that
only four northern counties produced over 200,000 bushels of wheat in 1850.




Statistics o f Agriculture, etc.

761

Paulding produced only 8,337 bushels, being les3 than the production of any
other county in Ohio.
It appears also that farmers are withdrawing their land from the cultivation of
wheat, the destruction by the midge or red weevil, and other insects, combined
with winter killing and other destructive causes, proving a discouragemnt to
them. In 1855 there had been a reduction since 1850 of the area sowed o f
250,000 acres, and during that period farmers lost 20,000,000 bushels by causes
above cited. The crop of 1857 is estimated at 25,000.000 to 28,000,000 bushels.
The practice of underdraining clayey soils i3 recommended as an anti lote against
some of the causes destroying the wheat crop. The losses from 1853 to 1856
inclusive, attributed to destructive insects, want of underdraining, &c., is exhibited
as follows :—
In 1853......................................................................... bushels
In 1854......................................................................................
In 1856......................................................................................

3,640,318
9,729,541
6,247,357

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

19,617,246

Say fourteen per cent of the entire quantity produced from 1850 to 1856, in­
clusive, or thirty per cent of the crops from 1853 to 1856, inclusive. Mr. Klippart
suggests that legislative aid be invoked to prevent the recurrence of losses by
causes stated above. We beg leave to suggest that if the wheat interest is
profitable, it would be wise in those most interested to devote their own time and
means in pursuing experiments looking to the destruction of insects which destroy
agricultural products.
CORN.

None of the counties in the northern half of the State, nor any out of the
Miami or Scioto valleys produced one million bushels of corn in 1850. Butler,
Payette, Pickaway, and R 033 produced upwards of two million each. In 1855
Ross and Pickaway, embracing a territory of less than twelve hundred square
miles, or about seven hundred and fifty thousand acres of land, produced sevenand-a-lialf million bushels of corn. In 1856, Clinton and Franklin counties
produced over one million five hundred thousand bushels each, and the following
counties produced over one million each, viz.:— Champaign, Fairfield. Green,
Hamilton, Highland, Licking, Madison, Miami. Montgomery, Preble, and Warren.
Geauga produced only 126,259 bushels, being the smallest quantity by any one
county. The crop ot' 1857 has been estimated at from sixty millions to ninety
millions, and for 1858 at fifty millions to sixty millions. The culture of corn
has been gradually increasing since 1850.
The report says that while land has been withdrawn from wheat culture, and
that cultivation of corn has increased, the inference that wheat lands have been
converted into corn lands is not justified. A great proportion of the lands
released from wheat culture have been converted into meadows and pasture lauds.
The additional corn lands are new. About 2,963,101 acres are devoted to oats,
potatoes, barley, rye, flour, tobacco, sorghum, grapes, broom corn, and orchards.

COCHINEAL CULTIVATION IN TE N E R IFFE,

The brilliant carmine of the painter, and the rich scarlet and crimson colors
of the silk and woolen dyer, are produced from a small bug which feeds on the
cactus plant. This insect, called “ cochineal,” was unknown in Europe before
the discovery of this continent. It was first exported by the Spaniards from
Mexico, where it was employed by the natives in producing those beautiful red
colors on feathers, which were made into divers curious Indian fabrics. Cochineal
is sold at from one dollar and a half to two dollars per pound. A t one period,
its cultivation was mostly limited to Mexico proper, but it has lately been ex­




762

Statistics o f Agriculture, etc.

tended to other countries, with very profitable returns to those who have engaged
in it. Its introduction and present extensive cultivation in the Island of Teneriffe
forms a remarkable episode in the history of the plants and people of that
wonderful island, whose volcanic peak is seen from afar on the ocean, towering
up, like a huge sugar-loaf, twelve thousand feet into the blue vault above. For
three hundred years this island had been a vine-producing country, and wine was
the principal article of its commerce—as much as 25,000 pipes being exported
annually—and who would have thought that it ever would be otherwise ? But
sometimes revolutions take place in the natural as well as the social world, and
about fifteen years ago, “ the handwriting of doom ” went forth against the wines
of Teneriffe. The “ vine disease ” fell upon the vinyards, the fruit withered, the
plants died, and starvation stared the people in the face. The American vessels
which used to frequent the island to exchange flour and provisions for wine,
deserted the harbors. What were the people to do ?
Some years previous (in 1835) a native gentleman, knowing that the cochineal
was cultivated profitably in Honduras, thought it might be equally so in Teneriffe.
He therefore introduced the cactus plant and its attendant insect, and set out a
cochineal plantation. The people around him, blinded by a strange fanaticism,
thought that the cactus was something insulting to the vine, and they destroyed
his plantation at night. But being a man of some determination, and supported,
happily, in his views by government, ho was so-encouraged as to adhere in his
efforts to cultivate it as secretly as possibly, in some lonely spots, and he was at
last rewarded for all his trials and labors. When the grapes died, and despair
seemed to settle down upon the people, as the vine was their principal dependence,
the question was sent forth, “ Why not try to convert the abandoned and withered
vinyards into cochineal plantations ?” A furor seemed to seize the people in ita
favor, as it had already been demonstrated that the cochineal insect propagated
rapidly, and the cactus flourished luxuriantly. The deserted vinyards were con­
verted into fields of the cactus plant, and such a profitable investment was never
made before in the culture of the soil, even in the palmiest days of wine-growing.
An acre of ground, set out with the cactus plant, yields about 300 pounds of
cochineal, and under the most favorable circumstances 500 pounds, for which the
owner receives about $340. The peasant women nurture patches of the cactus
around their cottages, and thereby acquire considerable convenient little sum3
for domestic purposes, as the cochineal is always marketable, and in demand.
The cochineal insect resembles a plump rose-bug when dried. The female
parents produce young in very great numbers; the males resemble gnats, are
very short-lived, and are few in number in comparison with the females. The
latter, when young, are white, but gradually become purple in color, by secreting
the fluid derived from the plant—that for which it is so valuable. When filled
with this secretion, these insects are shaken off the plants, placed on clean boards,
and dried in ovens, which process prepares them for market.
It ought to humble personal human pride when it is considered that its gratifica­
tion is oftentimes due to very despised sources. Thus the cochineal insect, or
bug of the cactus plant, is employed to put the artificial rose on the pale cheek,
and the bloom on the new scarlet uniform in which the young soldier takes such
pride. A t some future day, cochineal may become an object of culture in Florida
and Texas, where the cactus and its purple insect abound.




Statistics o f Agriculture, etc.

763

THE PRODUCTION OF W INES IN HUNGARY,

Hungarian wines having been lately introduced into the United States to a
considerable extent, the following statements and statistics, gathered from a
volume lately published in London in regard to the extent of the vine lands of
Hungary, will probably surprise many of the readers of the Merchants’ Maga­
zine :—The total extent of land cultivated in vinyards in the whole country (in­
cluding those provinces which do not enter into the classification of this section)
is not less than from 1,500,000 to 1,700,000 acres. The absence of general and
official statistics renders it difficult to state the precise measurement at any par­
ticular period. The average production of a medium season, calculated in each
district and in the aggregate, in exact proportion to the several extents and
yields, rates at 420 gallons to the acre. Taking the whole area to be 1,500,000
acres, therefore, the gross total production of such a season is 630,000,000 gal­
lons. From this must be deducted the deficit of less abundant crops, which,
reckoning by decades, from the best information relating thereto for the last fifty
years, and spread over every year, is equal to one-sixth of the average production
for each separate year, that is, to 105,000,000 gallons. Deducting this amount,
we have a residuary average of 525,000,000 gallons. To this sum we have now,
however, to add the excess resulting from exuberantly abundant seasons, which,
similarly calculated and spread over every year, is equal to one-thirtieth of the
average production for each separate year, or to 21,000,000 gallons. Thus the
ultimate gross yearly average is brought to 546,000,000 gallons. Of this quantity
very nearly 120,000,000 gallons are the produce of choice districts, including all
qualities :—That of Ofen, Pesth, and Maitzen.with their dependencies, exclusive
of what is called the plain of the Danube, yielding 13,312,520 gallons oft' an
area of 30,115 acres ; that of the Hegyallya, including Tokay and its dependen­
cies, nearly 13,000,000 gallons off an area of about 75,000 acres ; that of Arad,
Menesh, etc., about 8,775,000 gallons off an area of 25,000 acres—namely,
2.535.000 off 13,000 acres of upland vinyards, and 6,240,000 off 12,000 acres
of lowland vinyards; that of Szekszard, 10,400,000 gallons off an area of
25.000 acres, namely, 3,900.000 off 15,000 acres of upland vinyards, and 6,500,000
off' 10,000 acres of lowland plantations; that of Baranya, Funfkirchen, Villany,
and their dependencies, about 13,000,000 off an area of approximately 25,000
acres; that of Szalad, Yeszprim, etc., 13,328,000 gallons oft an area of 39,200
acres ; that of Visonta. Erlau, etc., 4,451,850 gallons off an area of 9,250 acres ;
that of Presburg, Sz. Georgen, Ratschdorf, etc., 8,840.000 gallons off an area of
about 17,000 acres ; that of Komorn and Nezmely, 1,300,000 gallons off an area
of about 5,000 acres ; and that of Rust, Oedenburg, and Gunz, 397,530 gallons
of good wine off an area of 1,700 acres. The various districts of the Banat,
Sclavonia, and Croatia have to be added, although the details respecting them
will transpire hereafter. The most scanty average production of spare hilly soil,
where nearly the whole of the fruit is allowed to wither, is about 104 gallons to
the acre ; the most abundant of the rich alluvial valleys and plains, where none
is withered, reaches upwards of 2,000 gallons, but in few places exceeds 1,250
gallons. The good lowland vinyards, where no fruit is withered, bear an average
of 650 gallons, and the good upland vinyards, under similar conditions, 390
gallons. In upland districts, where a considerable proportion (greater or less)
of the fruit is withered, the average ranges between 150 and 250 gallons.
The stocks of choice wines accumulated in the vast cellars of the principal
trading towns, such as Ofen, Pesth, Raab, Presburg, Turnau, etc., are prodigious,
not to mention the immense collection preserved in the episcopal, chapteral, and
manorial cellars, and in those of the most wealthy of the land-owning aristocracy.
In Ofen and Pesth alone, it is estimated that no less than between fifteen and
twenty millions of gallons are constantly on hand ; in the manorial stores of
Almas and the Esterhazy cellars at Bay. about 400.000 gallons each ; at Teteny,
about the same ; and in one cellar at Turnau, nearly double the quantity.
It is estimated that the demand lor local consumption annually absorbs about




764

Statistics o f Agriculture, etc.

325,000,000 of the total production, and that some ten or twelve millions more
are converted into vinegar or wasted every year. Distillation (exclusively of other
fruits, grain, and potatoes) is confined to the murk, which is either sold to the
distillers or reserved by the growers, in vats carefully luted with clay until winter,
for home distillation. Where wine-presses are generally used, the produce of
spirits (of 60° by Tralle’s hydrometer) from the murk does not exceed an average
of above seven gallons to the acre of vinyard ; but in the districts in which
wine-presses are scarce, the murk is so much richer that the spirits obtained
in distillation amounts to nearly thirty gallons to the acre. The total produce
of the country thus reaches nearly 11,500,000 gallons of brandy from grape
murk, which, though greatly preferred to the spirits distilled from potatoes, etc.,
is spoiled by the empyreumatic odor and taste which it always possesses.
Since compiling the above statement we learn from the Evening Post that the
introduction of Hungarian wine into this country to any considerable extent
dates from the close of the Hungarian struggle, and, in the estimation of many,
is the only desirable consequence of the subjugation of Hungary by the Aus­
trians, one of the first steps on the part of the victorious government being the
abolition of the heavy export tax, which had operated to prohibit the trans­
portation of the wine beyond the frontiers of Hungary. This act was prompted
by the desire of the emperor to consolidate the territories of Austria and the
conquered kingdom under one system, and abolish every law which might remind
the Magyars of their former independence.
Fortunately the sagacity and enterprise of Mr. Freund, a Hungarian gentle­
man in New York city, took advantage of what -was intended as a finishing blow
to the nationality of his countrymen. Having enjoyed a liberal education, and
after serving with distinction as a staff officer in the army of Hungary, on his
arrival here he has applied his faculties to a great variety of subjects in the pur­
suit of subsistence, being first a private tutor; then a professor of languages,
philosophy, chemistry, and astronomy in one of our colleges ; a manufacturer of
artificial marble, of which, we believe, he was the inventor; a ship-joiner, archi­
tect, and finally an importer of the wines of his native country, in which he,
with his partner, Mr. Grossinger, is doing a very large business, with a view of
finally uniting it with the introduction of the various other articles which may
be obtained cheaper from Hungary than elsewhere.

SORGHO, OR CHINESE SUGAR CANE.

The Paris correspondent of the Journal of Commerce says that the sorgho,
or Chinese sugar cane, which has attracted so much attention, formed a prominent
feature in the late annual agricultural exhibitions of France. This plant is
extensively and successfully cultivated in the south of France, and in Algeria ;
and as an evidence of the extent and variety of the application of its material,
we may mention that at the late exhibition at Avignon, M. Prieur exhibited a
group of samples illustrative of the metamorphoses to which he has subjected it.
Nothing could be more curious than the succession of transformations there
shown. In one corner could be seen the sorgho in stalk, such as it is when cu t;
a little further, were its fibers converted into thread, in skeins; then a piece of
linen woven with the thread ; then a handsome cloak, bordered with furs, which
M. Prieur designs for the Prince Imperial.
The most curious and complete array of the products of the sorgho, however,




Statistics o f Population, etc.

765

at the same exhibition, was that of Dr. Sicard, of Marseilles. With the pith
he has manufactured excellent sugar, which will favorably compare with any
other whatever. By grinding the seed he has obtained flour and fecula, of which
he has made bread arid chocolate, which the many tasters have found palatable.
He extracts, moreover, from the plant, an abundance of alcohol of superior
quality, and besides, a most agreeable wine, containing in large quantities all
the tonic and other salutary elements of the juice of the grape. In addition, he
makes paper out of it, of which he showed evidence in superior samples; by
chemical agents he gets from itgambogs, ginseng, carbon ; skeins of cotton, wool,
and thread dyed with sorgho in those delicate and varying shades which hitherto
have been found only in the stuffs and articles coming directly from China. We
should add that the new derivations (as we may style them) from the cane are
complete, and can be delivered to trade and industry at determinate prices.

STATISTICS OF POPULATION, &c.
POPULATION OF GREAT BRITAIN.

In 1856 the population of England, Scotland, and Wales was 22,080,449,
viz.:—10,802,279 males and 11,278,170 females. England and Wales contained
19,045,187 of these, and Scotland 3,035,262. There were 759,201 births, 448,962
deaths, and 179,824 marriages. There were 614,802 legitimate and 42,651
illegitimate births in England and Wales, and in London 83,787 legitimate and
3,646 illegitimate births. The proportion of illegitimate to legitimate was 1 in
14.0, and 1 in 23.0. The proportion of marriages to the population was 1 in
119 in England and Wales, and 1 in 100 in London, and it is added :— In Great
Britain 5,179 schools were inspected in 1856, accommodating 877,762 children;
571,239 was the average number in attendance ; 3,455 of these schools belonged
to the church, and the rest to the various dissenters (including the Boman Catholics)
and the kirk of Scotland ; 165 primary schools were built, and 6,262 enlarged
or improved in England in 1856. The receipts for the purposes of primary
education amounted to £915,372, (£422,633 from Parliamentary grants,) and
the expenditure to £939,910.
In Ireland there were 5,245 national schools at work at the end of 1856, and
the average daily attendance varied from 269,410 to 254,011. There were 168
agricultural national schools at work in 1856. The receipts on account of
primary education amounted to £247,664, and the expenditure to £231,458.
The total number of paupers in the United Kingdom in 1857 was 1,057,133,
the percentage to the population being 4.6 in England and Wales, 3.9 in Scot­
land, and 0.9 in Ireland. The total expenditure on the paupers of the United
Kingdom was £7,153,742. In England there were, in 1857, 122,845 in-door,
and 762,165 out-door, paupers. The adult able-bodied paupers (exclusive of
vagrants or “ sturdy beggars” ) numbered 140,075, of whom 19,660 were
maintained in-doors. The total amount expended on the relief of the poor in
1857 was £5,898,756, the average rate per individual of the population having
been 8s. 5Id. for “ poor rates received,” and 6s. ljd . for expenditure in relief of
poor.




766

Statistics o f Population , etc.

Ireland presents a remarkable improvement as regards the decline of pauperism.
The total number of paupers in 1857 was only 56,910, against 73,525 in 1856,
and 89,610 in 1855. The percentage ratio to the population was only 0.9.
The expenditure has fallen off from £849,951 (1855) to £619,514.

INCIDENTS

OF

LIFE.

The number of languages spoken is 4,064. The number of men is about
equal the number of women. The average of human life is thirty-three years. Onequarter die before the age of seven. One-half before the age of seventeen. To
every one thousand persons, one only reaches one hundred years. To every one
hundred only six reach seventy-five years ; and not more than one in five hundred
will reach eighty years. There are on the earth one thousand million of in­
habitants. Of these, 33,333,333 die every year; 91,824 die every day; 7,780
every hour, and 60 per minute, or one every second. These losses are about
balanced by an equal number of births. The married are longer-lived than the
single ; and above all, those who observe a sober and industrious conduct. Tall
men live longer than short ones. Women have more chances of life previous to
the age of fifty years than men, but fewer after. The number of marriages is in
the proportion of seventy-six to one hundred. Marriages are more frequent after
the equinoxes, that is. during the months of June and December. Those born
in spring are generally more robust than others. Births and deaths are more
frequent by night than by day. Number of men capable of bearing arms is onefourth of the population.

GREAT BRITAIN AND FRANCE.

By the latest return of the populations of Great Britain and France, it appears
that the proportion of children and young persons to adults is about one-seventh
more in Great Britain than in France. The inferences are that marriages are
more fruitful than in France; that the population in Great Britain is in a more
rapid state of advance—the percentage of persons living under 15 being 35 in
Great Britain, and 30 in France. The total number of adult males in the United
Kingdom is 5,210,000 ; in France, 7,250,000.

POPULATION OF CHINA.

The Russian mission, now at Pekin, has, in a recent report, made known the
result of the last census taken by the order of the Emperor of China. The
present population is said, by this document, to amount to 415,000,000 ; that of
Pekin being about 1,948,815.
POPULATION. OF CHILE.

The Chilean Secretary of State has issued the new census returns to Decem­
ber, 1857. Whole number of inhabitants, 1,558,319; foreigners, 19,669;
eighteen are of the age of 118 and 120 years ; 187 are over one hundred years ;
153,294 know how to read.




Statistics o f Population, etc.

767

SERF POPULATION OF RUSSIA,

The emancipation of the serfs in Russia meets with great, but not entirely un­
foreseen, obstacles. The Emperor Alexander II., not willing at first to introduce
the measure in the usual autocratic manner, has merely invited the nobility to
follow his own example; but it does not appear that, beyond Poland and the
ancient Polish province of Lithuania, any other government circle of Russia has
answered the call. The peasants, knowing the Emperor’s wish, and the un­
willingness of the nobles to gratify it, have taken up arms in many of the gov­
ernment circles, and have driven the nobles from their estates to seek shelter and
protection in the neighboring towns. The emancipation of serfs, even under an
absolute government, and where the serfs are of the same race as their masters,
and possess the same capacity for culture, is not an easy task, and will yet cost
the Emperor many sleepless nights. To give you an idea of the condition of the
people of Russia, I quote from the annual report of the Minister of the Interior.
According to him real estate was thus divided. There were :—
57.000 estates with from......................................
30.000
“
“
18.000
“
“
2,000
“
“
1,400
“
“
5
“
“
......................................

1 to
20 peasants or serfs.
20 “
100
“
“
100 “
500
“
“•
500 “ 1,000
“
“
1,000 “ 10,000
“
“
20,000 and over.

The whole number of peasants consisted of—
Crown peasants............................................................................................
Serfs ...............................................................................................................

9,000,000
11,750,000

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

20,750,000

There were also eighty-eight thousand proprietors wdth from one to ten serfs
each, employed in towns and cities, and obliged to pay obrock, or tribute, to their
masters. These are not nearly as well off as the serfs on the plantations, and
the imperial measure is intended to reach all.

POPULATION OF HAMILTON, CANADA.

The following table exhibits the numbers of the people at various periods :—
In 1850 there w e r e .................
In 1854
“
.................

10,300 I In 1856 (July) there w e re .. . .
18,596 | In 1858 (Oct.)
“
____

21,855
27,288

POPULATION OF NEWFOUNDLAND.

The population of Newfoundland, as shown by the census of 1858, is 119,336.
Of these, 55,152 are Catholics, 42,859 Episcopalians, 20,142 Methodists, 302
Scotch Presbyterians, 520 Scotch Free Church, 347 Congregationalists, 44 Bap­
tists.
PAUPERS IN IRELAND.

The total number admitted into the Irish workhouses for the year ending Sep­
tember 29th, 1857, was 137,711, and the number of deaths 9,253 ; the total
number admitted in 1856 was 153,797, and the deaths 10,727. The “ poor-rate
lodged” for the year 1856 was .6723,204, and £585,583 for 1857.




768

Mercantile Miscellanies.

MERCANTILE MISCELLANIES.
-

HUMAN HAIR AS AN ARTICLE OF TRAFFIC.

Few persons are probably aware of the extent to which the traffic in human
hair is carried. It has been ascertained that the London hair-merchants alone
import annually no less a quantity than five tons. But the market would be
very inadequately supplied if dependence were solely placed on chance clippings.
There must be a regular harvest, which can be looked forward to at a particular
time; and as there are different markets for black tea and green tea, for pale
brandy and brown brandy, so is there a light-haired market distinct from the
dark-haired.
The light hair is exclusively a German product. It is collected by the agents
of a Dutch company who visit England yearly for orders. Until about fifty
years ago, light hair was esteemed above all others. One peculiar golden tint
was so supremely prized, that dealers only produced it to favorite customers, to
whom it was sold at eight shillings an ounce, or nearly double the price of silver.
The rich and silk-like texture of this treasured article had i ts attractions for
poets and artists as well as traders. “ Shakspeare especially,” says one of our
authorities, “ seems to have delighted in golden hair.” “ Her sunny locks hung on
her temples like the golden f l e e c e s o Bassanio describes Portia in the Merchant
of Venice. Again, in the Two Gentlemen of Verona, Julia says of Sylvia and
herself; “ Her hair is auburn, mine is perfect yellow.” . . . . Black hair he only
mentions twice throughout his entire plays, clearly showing that he imagined
light hair to be the peculiar attribute of soft and delicate women.
A similar partiality for this color, touched with the sun, runs, however, though
the great majority of the poets, old Homer himself for one ; and the best painters
have seized, with the same instinct, upon golden tresses. A walk through any
gallery of old masters will instantly settle this point. There is not a single
female head in the National Gallery, beginning with those glorious studies of
heads, the highest ideal of female beauty by such an idealist as Correggio, and
ending with the full-blown blondes of the prodigal Rubens—there is not a single
black-haired female head amongst them.
But all this has passed away; the dark brown hair of France now rules the
market. It is the opinion of those who have the best right to offer one on such
a subject, that the color of the hair of the English people has deepened in tint
within the last fifty years, and that this change is owing to the more frequent
intermarriages, since the Napoleonic wars, with nations nearer to the sunny south.
Whether dark or light, however, the hair purchased by the dealer is so closely
scrutinized, that he can discriminate between German and the French article by
the smell alone; nay, he even claims'the power, “ when his nose is in,” of
distinguishing accurately between the English, the Welsh, the Irish, and the
Scotch commodities. The French dealers are said to be able to detect the dif­
ference between the hair “ raised ” in twro districts of Central France, not many
miles apart, by tokens so slight as would baffle the most learned of our natural­
ists and physiologists.




M ercantile. Miscellanies.

769

Black liair is imported chiefly from Brittany and the south of France, where
it is annually collected by the agents of a few wholesale Parisian houses. The
average crops—we scorn the imputation of a pun—harvested by these firms,
amount yearly to upwards of two hundred thousand pounds’ weight. The price
paid for each head of hair ranges from one to five francs, according to its weight
and beauty ; the former seldom rising above a pound, and seldom falling below
twelve ounces. The itinerant dealers are always provided with an extensive
assortment of ribbons, silks, laces, haberdashery, and cheap jewelry of various
kinds, with which they make their purchases as frequently as with money. They
attend all the fairs and merrymakings within their circuit, and the singularity
and novelty of their operations are wont to strike travelers more than anything
else which meets their notice. “ In various parts of the motley crowd,” says one
who had stopped to stare his fill at one of the Breton fairs, “ there were three or
four different purchasers of this commodity, who travel the country for the pur­
pose of attending the fairs and buying the tresses of the peasant-girls,” who seem,
indeed, to bring the article to market as regularly as peas or cabbages. “ They
have particularly fine hair,” he continues, “and frequently in the greatest abundance.
I should have thought that female vanity would have effectually prevented such a
traffic as this being carried to any extent. But there seemed to be no difficulty
in finding possessors of beautiful heads of hair perfectly willing to sell. We saw
several girls sheared, one after the other, like sheep, and as many more standing
ready for the shears, with their caps in their hands, and their long hair combed
out and hanging down to their waists. Some of the operators were men, some
women. By the side of the dealers was placed a large basket, into which every
successive crop of hair, tied up into a wdsp by itself, was thrown.” As far as
personal beauty is concerned, the girls do not lose much by losing their hair ; for
it is the fashion in Brittany to wear a close cap, which entirely prevents any
part of the chevelure from being seen, and of course as totally conceals the want
of it. The hair thus obtained is transmitted to the wholesale houses, by whom
it is dressed, sorted, and sold to the hair-workers in the chief towns, at about ten
francs per pound. The portion of the crop most suitable for perukes is pur­
chased by a particular class of persons, by whom it is cleaned, curled, prepared
to a certain stage, and sold to the perukeiers at a greatly advanced price—it may
be forty, or it may be eighty, francs per pound. Choice heads of hair, like choice
old pictures, or choice old china, have, however, no limit to the price they may
occasionally command.
WHY SO FEW SUCCEED.

Life is a continued battle, in which defeat is suffered more often than victory
is won. Along its flinty path the foot-prints of disaster are everywhere seenj
and by the wayside are thickly strewed the graves of the fallen. Why is it that
so few succeed ? Why is the hope with which youth set out so often desolated,
and the goal of ambition so rarely reached? The strife is too often commenced
without preparation for the struggle. The young, impulsive, and ardent think
they have but to reach forth their hand to pluck the fruit, that, like the apples
of the Hesperides, is only to be gained after the highest endurance and the most
patient perseverance. Seldom does genius give the tongue of flame that secures
VOL. XX XIX .---- NO. VI.




49

770

Mercantile Miscellanies.

distinction almost without effort. Toilsome study, and persistent investigation,
and patient experiment are the only modes of realizing a power to create, or
even to recombine, so as to subdue new elements to human use. Physical as
well as mental training is necessary for the accomplishment of life-victories. But
when the intellect is well cultivated, the bodily energies are often uncultivated.
The mind, like friction upon a machine not lubricated, wears out the mechanism
of the body, and its growing weakness and disorder nullify the power it envelops.
How often a blanched cheek, emaciated limbs, and feeble muscles mark the
successful student, who drops into the grave when he is about to reach the goal
of his aspirations! We of America have much to learn on this point. A system
of intellectual-forcing culture, a habit of putting boys to the business of men,
has produced a species of precocity which, however much it may awaken4astonishment at the wonderful developments, will leave—nay, has left— manifold evils.
A t the rate we are now progressing, the time is not far distant when such a thing
as boys will be entirely unknown. Now the lads of ten wear the manners of
maturity, and the girls of a lesser age are often women in all but physical develop­
ment. To the want of physical culture there is also to be added a neglect of
moral lessons. What school in America teaches “ the humanities ” as they should
be taught ? Where is principle laid down as the basis of all great efforts ?
Honorable action, not in the received sense, which is promptitude in resenting
any conceived insult or suspected affront, but honorable action, meaning that
squared upon the golden rule, “ do unto others as you would they should do unto
you,” inculated as the highest guaranty of noble results ? Our teaching is wrong ;
our example is wrong ; our praise and our censure are often wrong ; and the re­
sult is that we see fewer of those men, self-made, and strong in rectitude as the
eternal truth, firm in principle as the living rock, pure in character as the mountain
stream, and vigorous in mind and body as the sturdy oak, who shed honor on our
early history.
SCIENTIFIC PARADOXES.

A recent writer in Blackwood says that the water which drowns ns, a fluent
stream, can be walked upon as ice. The bullet which, when fired from the mus­
ket, carries death, will be harmless if ground to dust before being fired. The
crystalized part of the oil of roses, so grateful in its fragrance—a solid at ordinary
temperatures, though readily volatile—is a compound substance, containing
exactly the same elements, and in exactly the same proportions, as the gas with
which we light our streets. The tea which we daily drink, with beuefit and
pleasure, produces palpitations, nervous tremblings, and even paralysis, if taken
in excess; yet the peculiar organic agent called theine, to which tea owes its
qualities, may be taken by itself, (as theine, not as tea,) without any appreciable
effect. The water which allays our burning thirst, augments it when congealed
into snow ; so that Captain Ross declares the natives of the Arctic regions “ pre­
fer enduring the utmost extremity of thirst rather than attempt to remove it by
eating snow.” Yet if the snow be melted, it becomes drinkable water. Never­
theless, although, if melted before entering the mouth, it assuages thirst like other
water, when melted in the mouth, it has the opposite effect. To render this
paradox more striking, we have only to remember that ice, which melts more
slowly in the mouth, is very inefficient for allaying thirst.




Mercantile Miscellanies.

771

COMMERCIAL ASPECT OF CENTRAL AFRICA.

An interesting lecture was delivered by Rev. Mr. Bowen, before the Mercantile
Library Association, on Thursday evening, upon the commercial resources of
Central Africa, and the practicability of opening a large and profitable trade
between that section of the world and the United States. Mr. Bowen is of
opinion, from personal experience, that a trade (now paying 30 a 50 per cent
profit) to the amount of thirty miliions per annum, can be established with the
River Niger, which he calls the Mississippi of Africa. From its delta to its
source, we are told by Mr. B., it is more than three thousand miles in length. In
no place is it less than half a mile in width, and throughout its entire length
would be navigable to our Mississippi steamboats. Its principal tributaries are
navigable for more than fifteen hundred miles. The immense district drained by
the Niger and its branches is rich in undeveloped resources. The palm tree grows
in luxuriant profusion, and from its nut, oil, for the supply of the world’s trade,
could be manufactured. Cotton of a long and firm staple, it is believed, can be
easily produced, and an immense trade in indigo, African silk, ivory, and skins,
could be established with facility. The great reason why the English have not
succeeded better in their attempts to establish trade, is because they have confined
their operations simply to ports along the banks of the Niger, and left the great
interior country unexplored. Trading posts should be established in the interior
in order to break up the vast traffic which finds its way across the deserts. Around
these stations large towns would spring up which would soon become the nucleuses
of civilization. Mr. Bowen pictured the country in glowing colors. No one,
he said, who ever lived there, and became acquainted with the resources of Africa,
came away without a desire to return. He believed that the country which shall
send out the necessary force, with steamers, to open the trade there, will be re­
paid in a marvelous manner.
Mr. Bowen’s explorations have been confined almost wholly to that portion of
Western Africa extending along the River Niger, and as far eastward as Lake
Tschak. The mountains of Africa are somewhat remarkable as to their configura­
tion. There are no regular chains—they consist entirely of isolated peaks, shaped
like sadole-backs, and usually densely covered with wood. Some are but
gigantic boulders of granite rock, rising thousands of feet above the plains. Mr.
Bowen traveled up the St. Paul River about a hundred miles from its mouth.
A t this distance the stream was over five hundred yards in width. Almost the
entire surface of Africa presents but a vast undulating plain, which bears unmis­
takable evidence of its once having been cultivated, and the home of a mighty
population. All over the country are to be seen “ trays ” worn in the rocks by
the process used by the natives for grinding their corn. Between Lake Tschak
and the Niger there is an immense table-land, rising thousands of feet above the
ocean. The Great Deserts, from the time of Herodotus, have been represented
as vast desolations. Nothing could be more incorrect, according to Mr. Bowen’s
account. It is everywhere inhabited, and contains within itself two great re­
publics, having a literature among the oldest in existence. The mineral wealth
of the country has been but little explored. Iron, we are told, is found in every
hill. The ruins of ancient smelting furnaces are numerous. Copper and lead
are to be found in abundance. Gold in the Ashantee country has always been
found in great quantities. The gold region extends over a thousand miles of this




772

Mercantile Miscellanies.

district. Tbe seasons are characterized by lemporales, commencing in March
and September. The heat is rarely above ninety degrees. The climate is ex­
ceedingly healthy in certain districts, none more so than the country along the
Biver Niger. Mr. Bowen dwelt somewhat upon the capacity of the natives,
foreseeing for the educated African an opportunity for developing the vast re­
sources of the country to an almost unlimited extent.
THE HISTORY OF PRICES IN 1857 AND 1858.

Mr. William Newmarch read a paper before the British Association on the
above subject. After alluding to a paper on the same subject which he read last
year at Dublin, and many of the views expressed in which were strongly con­
troverted, Mr. Newmarch proceeded to consider the question—How it was that,
in 1857—after a period of ten years, during which constant and great additions
were made to the amount of metallic money in circulation—there came to be a
panic which, in severity and extent, exceeded nearly all that had occurred for
thirty years, and which differed from them all in its exciting causes. There was
perfect peace, except in India, (which might be excluded from consideration in
this instance,) no scarcity, no revolutionary panic, no excessive investments in
railways; and yet there wTas this great crisis. The range of prices first claimed
notice; and he would take as the point of comparison the price of sugar in
London in January, 1855, representing that price as 100. He found on com­
paring prices in July, 1857 and 1858, that there was a fall during that period, in
coffee, from 145 to 113 ; sugar, from 230 to 117 ; tea, from 130 to 110 ; cotton,
silk, and hemp, (taken together,) from 170 to 105 ; wool, from 180 to 110 ; oils,
from 105 to 80 ; iron, from 00 to 80 ; and timber, from 115 to 100. Take the
prices of the first week of this month, and compare them with those of 1851,
and it would be found that sugar had fallen from 140 to 125 ; tea, from 135 to
110 ; cotton, silk, and hemp, from 125 to 107. Bear in mind that during those
seven years the gold and silver in circulation had been increased about forty per
cent; for he believed that, in the early part of 1848, the gold and silver existing
in various forms in Europe and America did not much exceed 550,000,000, and
there had been added from new sources of supply (California and Australia)
230,000,000 at least.
HOW COFFEE CAME TO BE USED.

It is somewhat singular to trace the manner in which arose the use of the
common beverage, coffee, without which few persons, in any half or wholly civil­
ized country in the world, would seem hardly able to exist. A t the time Colum­
bus discovered America it had never been known or used. It only grew in
Arabia and Upper Ethiopia. The discovery of its use as a beverage is ascribed
to the superior of a monastery in Arabia, who, desirous of preveuting the monks
from sleeping at their nocturnal services, made them drink the infusion of coffee
upon the report of some shepherds, who observed that their flocks were more
lively after browsing on the fruit of that plant. Its reputation spread through
the adjacent countries, and in about two hundred years it reached Paris. A
single plant brought there in 1714, became the parent stock of ail the French
coffee plantations in the West Indies. The extent of the consumption can now
hardly be realized. The United States alone annually consume it at the cost o f




Mercantile Miscellanies.

773.

its landing of from fifteen to sixteen millions of dollars. Tou may know the
Arabia or Mocha, the best coffee, by its small bean of a dark yellow color. The
Java and East.Indian, the next in quality, are larger and of a paler yellow.
The West Indian Eio has a bluish or greenish gray tint.
VALUE OF THE CROWN JEW ELS.

As it may be interesting to our readers who have heard so much lately about
fetes, ceremonies, and the magnificence of upholstery, to know the value of some
of the articles used on the occasion, we subjoin the estimated price of the jewels
of the crown of state which Queen Victoria wore in St. James’ Chapel:—
The great ruby...................................................................................................
The a q u a m a r i n a ...............................................................................................
Twenty diamonds round the circle ($7,500 each).............. ..........................
Two large center diamonds ($10,000 each)..................................................
Four crosses, each composed of twenty-five diam onds.............................
Four large diamonds on the tops of the crosses...........................................
Twenty-six diamonds contained in the f l e u r d e l i s ......................................
Pearls and diamonds on the arches and crosses...........................................

$50,000
60,000
150,000
20,000
60,000
200,000
60,000
70,000

T o ta l................... •......................................................................................

$670,000

Notwithstanding the enormous mass of jewelry, the crown weighs only nine­
teen ounces ten pennyweights. It measures seven inches in height from the gold
circle to the upper cross, and its diameter at the rim is five inches.
PHILIPPINE ISLANDS.

The port of Iloilo, in the center of the southern group of the smaller Philippine
Islands, has been opened to foreign trade by the Spanish Government, and is
probably destined before long to become well known in commercial enterprise,
although at present there are scarcely half a dozen merchants or shipowners here
who ever heard of the place. Iloilo (or Iloylo) is the chief port of the small
but fertile island of Panay, which contains a population of about 700,000
inhabitants, and together with the neighboring islands, of which it is expected
to be the commercial depot, the population may bo estimated at 2,000,000.
Besides varieties of Eastern produce, of lesser importance, with which we are
familiar from our connection with Singapore, Iloilo is expected eventually to
export largely sugar and hemp to a considerable extent, and thus open a direct
trade not only for shipment of raw produce to England, but for importing and
distributing among the neighboring islands a proportionate amount of British
manufactures.
SUPPRESSION OF THE SLAVE TRADE,

It appears from a Parliamentary return just issued, that in 1854 twelve ships,
with 992 officers and men, were engaged in the suppression of the slave trade on
the west coast of Africa ; in 1855, twelve ships, with 1,082 officers and men ;
in 1856, thirteen ships, with 1,222 officers and men ; in 1857, fifteen ships, with
1,424 officers and men.
At the Cape of Good Hope ; in 1854, four ships, with 575 officers and men ;
in 1855, five ships, with 775 officers and men ; in 185G, three ships, with 760
officers and men ; and in 1857, three ships, with CIO officers and men.




774

The Book Trade.

THE BOOK TRADE.
1. —Abridgment of the Debates nf Congress, from 1789 to 1856. From Gales
& Seaton’s Annals of Congress, from their Register of Debates, and from the
official reported Debates by John C. Hives. Ily T h o m a s H. B e n t o n , author
of “ Thirty Years’ View.” Yol. IX., 1826 to 1828. 8vo., pp. 752. New
York : D. Appleton & Co.
W e are in receipt of this the ninth volume of Benton’s Congressional Debates,
and are glad to see that, though the compiler has passed away, the good work he
begun shows no symptoms of flagging, although the condensation and preparation
for such a work must be immense. It is to these pages we are to look for a
sound and practical understanding of the principles of the Constitution and
government under which we live. The vast variety of relations which the Federal
government maintains, both as supreme over the republic and in its relations to
the sovereign States of the Confederacy, are the basis of the numerous topics in
these debates, and for this reason the work should have a place in the library of
every one who would become acquainted with its parliamentary history. It, may
justly be considered a national enterprise, prepared with impartiality and marked
fidelity to truth of history. The index which accompanies each volume shows at a
glance the leading arguments used in the debates, as well as the topics discussed, and
the work when complete will form a comprehensive history of the legislation of
the United States— the best, we have no hesitation in saying, which will ever be
written.
2. — Swedenborg, a Hermetic Philosopher; being a Sequel to remarks on Alchemy
and the Alchemists, with a Chapter comparing Swedenborg and Spinoza. By
the author of “ Remarks on Alchemy and the Alchemists.” 12mo., pp. 352.
New York : D. Appleton & Co.
There seems to be three modes by which the Christian religion is received in
the world, and though not absolutely distinct from each other, yet sufficiently
marked to be readily distinguished. AVith one class it is received historically,
and its truth is supposed to rest mainly upon historical evidences, so strong that
no man in his proper senses can reject the testimony. We next find a class of
more cultivated minds, who would clothe the Scriptures, by their abstruse reason­
ings and attempts to connect the perfection of man with a knowledge of God,
with more of philosophy, by insisting upon the fact that all ancient wisdom has
come down to us in correspondences and symbolism, not to be taken literally,
but to be studied out in spirit, and by these it is that the chief controversies
touching the externals of religion are mainly carried on. A third class receive
the Scriptures as the spirit of truth, as taught by Jesus, manifested in him so
strongly as to be the whole truth, and nothing but the truth, beyond and above
all controversy. W c cannot readily class the author of these chapters on Svvedenborgian doctrine with any of these, but must accede to him a niche somewhat
separated from the rest, and to all those who take an interest in such matters,
and would acquaint themselves with these abstruse questions, we would recom­
mend this cirticism on Swedenborg, as eliciting much ingenious thought, com­
bined with many striking truths.
3. — Blonde and Brunette; or, the Gothamite Arcady.
York : D. Appleton & Co.

12mo., pp. 316.

New

This well written and highly interesting story, the editor tells us, was gotten
old of accidentally, after having slumbered for some time in the dust of a portolio . Upon persual of the book, we feel constrained to congratulate him on
his good fortune, for it has been long since we have read a story of this kind with
as m uch interest.




775

The Booh Trade.

4-.— Vestiges of the Spirit History of Man. By S. F. D u n l a p . Member of
the American Oriental Society, New Haven. 8vo., pp. 401. New York :
D. Appleton & Oo.
“ I caused blind hopes to dwell within them.”
Man, whatever his estate in life, has ever been found to be environed by agen­
cies visible and invisible. The Greeks worshiped the stars, the Romans adored
Aurora, the rosy fingered morn, the Persians venerated rivers, trees, mountains,
and stars, while the American Indian sees god3 in the mists of the mountain,
the rocky defile, the foaming cataract, the tempests blast, and the evening breeze—
each recognizing their own deities through conceptions given them by nature, or
the examples bequeathed them by those who have gone before. The object of
this work is to set forth the progress the world has made in her beatific systems;
for it is a part of the author’s creed that thought grows like a plant, and that
there has been a gradual rise of systems, one cultus growing out of another and
perpetually evolving new power. In it will be found a description of the various
objects and modes of worship of the different ages and nations of the earth—
sun-worship, fire-worship, image-worship, Polytheism, Brahmanism, Buddhism,
and all the world religions. While transcendently over these, and above all the
false systems devised by man, shines the true and only religion—given by God—
the revelation of our Lord and Savior, Jesus Christ. The book gives evidence
of great labor and patience, and a knowledge which could only be obtained by
careful study of the sources from which the information is derived.
5. — Sir Walter Raleigh and his Time, with other Papers. By C harles
K ingsley , author of “ Iiypatha,” “ Two Years Ago,” etc. 12mo., pp. 461.

Boston : Tieknor & Fields.
This volume appears to be a reprint of papers, which originally appeared in
Frazer's Magazine and the North British Reoiew, on Sir Walter Raleigh, Burns,
Tennyson, together with some others, entitled, the “ Poetry of Sacred and
Legendary Art,” “ North Devon,” “ Phaeton,” and “ England from Wolsey to
Elizabeth,” etc., etc. Mr. Kingsley is a vigorous writer, and has gained for him­
self a high position in England, by his contributions to the different English
periodicals. The selections here are judiciously made, as the subjects dealt
with are various and dissimilar; but, on the whole, we are not partial to reviews
of this kind, and always look upon them as episodes which it were easily to dis­
pense with ; for the best biography of every man is sure to be found in his own
works, for in them we find all that has happened to him inward or outward, or
rather all that has produced a permanent effect upon his mind and heart, and
knowing that you know all, and should be content with escaping from the per­
sonality and gossip usually met with in such reviews. It requires not even a
skin-deep critic to form a just estimate of poor Burns, whose heart, though young
to the last, seemed to have lost all faith in his brother man, and, as a conse­
quence, in himself also, yet through whose omissions aud commissions there
shines out those beautiful regrets which show that, though he ceased to worship,
the vestal-fire of conscience still burned within him.
6. — The Poetical Works of Filz-Greene Halleck.
235. New York : D. Appleton & Co.

New Edition.

I2mo., pp.

We are glad to see the productions of our poet laureate, Fitz-Greene Halleck,
collected together in so neat a volume as the one before us. It is ever refresh­
ing to browse only for a few moments into some one of his heartfelt lyrics. It
is sure to quicken our feelings and awaken within us some slumbering memory
which the manifold cares of the world had well-nigh obliterated, but which only
need the awakening influences exerted in some one of Halleek’s pieces to call
into renewed life. We have ever been an ardent admirer of his, aud we recom­
mend the little book as very “ essential oil” to soothe our ruffled spirits into
something like expectant hope.




776

The Booh Trade.

7.— The Municipalist.
Savage.

In Two Parts.

12mo., pp. 302.

New York : George

This book,-as its title indicates, is particularly devoted to tlie great municipal
interests of society, and has for its particular object the alteration of the present
constitution of our State by one more suitable to the urgency of the times. As
the author says in his preface, when we look at the “ increase of public debt,
taxes, crime, and mobism—at the delay, confusion, and corruption in the judicial
procedures—at the abuse of the executive pardoning power, the defective work­
ings of the jury system, and the insecurity of life and property,” a mere glance
at these cryiDg evils will afford ample room for the question, that with all our
boasted ideas of progress and civilization— our numerous churches, colleges,
schools, and public libraries, are we not gradually losing our hold upon many of
those'inestimable principles of virtue taught us by our fathers, and known to be
the only sure foundation upon which a republic can exist. Possessed of these
ideas the author has undertook to elucidate, by comprehensive explanations, the
true system of governing under the constitution, both municipal and Slate, and
adds many cogent reasons for the amendment of the present constitution. Taken
altogether it is a hit in the right direction, which the evils of our city, we think,
will bear us out in sayiDg, and as such we recommend it to the attention of every
intelligent voter, and above all to that immaculate class, our city fathers., . / •
8. —Piney Woods Tavern; or, Sam Slick in Texas. By the author of “ Ad­
ventures of Captain Priest,” etc. etc. 12mo., pp. 309. Philadelphia : T. B.
Peterson & Brothers.
/ ci '
A rather improbable, yet laughable, story, the scene of which is laid^itr that
classic laud of adventure and lawlessness—Texas. For proper effect, threader
should pin back the lobes of his ears, and prepare himself to follow the^fithoiy
without for a moment submitting to those questions of probabilities anfT im­
probabilities which .naturally arise in the mind of the reader while threading a
narrative of this kind. In short, he must be prepared to drink it all in with
thirsty ears, believe it all, and follow quietly the course laid down, whether it be
by a slender sapling, over a cataract, or into the huge paws of a catamount, or
live Camanche, and thus, with his mind fully prepared for “ anything that may
turn up,” he will find this a laughable and amusing story.
9. — The Courtship of Miles Slandish, and other Poems .By H enry "Wadsworth
L

ongfellow .

12mo., pp. 215.

Tieknor & Fields.

This last poetical production of Mr. Longfellow’s is receiving full as much
attention as did Hiawatha, and its transcendental qualities have already been
seized upon by rhetoricians for the display of their own powers in rehearsal of
the elegant style of the author. Mr. Longfellow doubtless possesses all the at­
tributes of a poet, and it were worse than folly to decry what all are praising.
Nevertheless, if one may be permitted to express themselves, we should say we
have read, even in these stale times of poesy, poems, the reading whereof has
sent more electrical thrills through our system than has the antiquated courtship
of Miles Staudish. The book is neatly got up and will, no doubt, meet with a
large sale among the many admirers of the author.
10. — Legends and Lyrics : a Book o f Verses. By
12mo., pp. 264. New York : D. Appleton & Go.

A d e l a id e A nne P r o c to r .

The “ Immoi-tal Nine” has a new worshiper in Adelaide Anne Proctor, or at
least she is new to us, having never before, in our recollection, seen any of her
production. Apparently she possesses many of the qualifications necessary for
a true poet, and some of her pieces, as “ A Woman’s Question,” “ The Sailor
Boy,” etc., abound in ideality and deep pathos ; but, though nothing lacking in
imagery, she seems to want that versification so essential to the singer of a right
noble poem.