Full text of The Merchants' Magazine and Commercial Review : February 1853, Vol. XXVIII, No. II

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HUN T ’ S

MERCHANTS’ MAGAZINE.
E s t a b li s h e d J u l y , 1 8 3 9 ,

B Y F R E E M A N H U N T , E D IT O R A N D P R O P R IE T O R .

VOLUME X X V III.

FEBRUARY,

C O N T E N T S OF NO.

1853.

NUM BER II.

II., V O L . X X V I I I .

ARTICLES.
A r t .

pa g e

I. CUB A. Discovery—Settlement—Early History—Lord Albemarle’s Expedition—Las Casas
—Fidelity to Spain—Geographical Descnpti m of the Island—Products—Animals—Ha­
vana—Population of Cuba, 1580 to 185i)~E nigration—Capacity for Future Growth—
Amount of chief Products, 1819—Imports an I Exports—Cuban Tariff—Retaliatory Act
of the United States—Effect thereof—Taxes in Cuba—Circulating Medium—Political im­
portance of Cuba—Views of France, England, and the United States—Extension Policy
of the latter—Policy toward Cuba from 1825—Mr. .Adams—Mr. Webster—Mr. Polk’s at­
tempt to Purchase Cuba—Mr. Everett's Letter, etc,............................................................. 147
II. THE CALORIC SHIP ERICSSON......................................................................................... 164
HI. THE TRADE AND COMMERCE OF BALTIMORE IN 1852........................................... 169
IV. MERCANTILE BIOGRAPHY--SAMUEL BUDGETT, OF KINGSWOOD, ENGLAND.
By E n o c h H a l e , Jr., of New Y o rk ..................................................................................... 184
V. PROPERTY AND NATIONAL WEALTH. By J o h n M i l t o n S t e a r n s , Esq., of Massa­
chusetts................................................................................................................................... 193

J O U R N A L OF M E R C A N T I L E L A W.
Action on Railroad Law of New York S ta te .................................................................................. 201
Policies of Insurance.......................................................................................................................... 203
Insurance Case of Montreal............................................................................................................... 205
Action to Recover Value of Goods obtained upon Fraudulent Representations.......................... 206
Claim for alleged Loss sustained on a Purchase of Lard............................................................... 207
Action on a Promissory Note............................................................................................................ 07
Discharge of a Debtor in South Carolina ineffectual against a Creditor living in New York.......209
Assignment of Property in Trust lor benefit of Creditors......................................................... .. 209

COMMERCI AL CHRONI CLE AND R E V I E W :
E M B R A C IN G A F IN A N C IA L A N D C O M M E R C IA L R E V IE W O F T H E U N IT E D S T A T E S , E T C ., IL L U S T R A ­
T E D W I T H T A B L E S , E T C ., AS F O L L O W S I

The Past and the Future—Supply of Money throughout the Country—Rash Speculations checked
—Desire for Permanent Investments increased—Illegal and Fraudulent Banking—Condition
of New York City Banks, compared with those of Boston, Philadelphia, Baltimore, and New
Orleans—Deposits and Coinage at the Philadelphia and New Orleans .Mints—Statistics of the
Commerce of the United States for the year 1852—General review of the Commercial Trans­
actions at New York for 1852, with full Statistical Tables, embracing a Monthly Table of the
Imports, Exports, Receipts for Customs, etc.—Destination ot the Shipments of Domestic Cot­
tons, and Clearances of Produce—Effect of the increased production of Gold upon the Com­
merce of the World............................................. ................................................................... 210-218
YOL. XXVIII.----NO. II.




10

146

CO NTEN TS O F N O . I I . , V O L . X X V III.

J O U R N A L OP B A N K I N G , C U R R E N C Y , A N D F I N A N C E .
PA G E.

219

Bell’s Dictionary of Banking.—Banking in New Jersey....................................................
Banks and Banking in South Carolina................................................................................
Statistics of the Banks of Rhode Island..............................................................................
Condition of the Banks of Baltimore..................................................................................
Mode of making and receiving Deposits in Banks..............................................................
Savings Banks in Rhode Island............................................................................................
Condition of Savings Banks Of Connecticut........................................................................
United States Treasurer’s statement, December 27, 1852....................................................
Receipts of Gold in Great Britain.—Finances and Debt of Kentucky............................
Debt and Finances of New York City.—Taxes collected in the City of New York in 1852,
Finances and Debt of Tennessee.—Imports and Exports of Specie at Boston...................
Real and Personal Wealth of Albany....................................................................................
Brooklyn City Debt, January 1, 1852.—Debt and Finances of Boston............................... .

220

223
225
226
227
227
228
229
230
231
231
232

COMMERCIAL STATISTICS.
233
235
235
236
237
238
239
239

Shipping of Philadelphia............................................................................
Vessels Cleared at Baltimore in 1852...........................................................
Baltimore Inspections of Breadstuff’s ...........................................................
Vessels Admeasured at Baltimore in 1852...................................................
Imports of Hides into the Port of New York.............................................
Mackerel and other Fish inspected in Massachusetts.................................
Foreign and Coastwise Arrivals and Clearances at Boston........................
Yield of Sugar in Brazoria County, Texas...................................................

COMMERCIAL REGULATIONS.
Regulations for the Port of Messina................................................................................................
Change in the Tariff of Cuba...........................................................................................................
Suggestions for Merchants in the California Trade..........................................................................
Regulation of the Argentine Confederacy......................................................................................
Tariff of New South Wales.—Of Vessels Built in Foreign Countries...........................................

240
240
244
244
245

NAUTICAL INTELLIGENCE.
Maury’s Sailing Directions................................................................................................................
Adjustment of Compasses in Iron Ships.........................................................................................
Vessels Wrecked on the Florida Coast, 1844-51.............................................................................
King William Group of Islands........................................................................................................
Stanford Channel, Lowestoft...........................................................................................................

246
246
247
247
248

S T A T I S T I C S OF P O P U L A T I O N , &e.
Emigration to the Port of New York...............................................................................................
Population of New South Wales......................................................................................................
British Census of 1841 and 1851 ......................................................................................................
Urban Population...............................................................................
Fire-proof Buildings erected in San Francisco...............................................................................

248
249
250
251
251

J O U R N A L OF M I N I N G A N D M A N U F A C T U R E S .
The manufacture of glass.—No. vi. By Drming J arvis, Esq., of Massachusetts........................
Oswego Starch Factory....................................................................................................................
Product of the Australian Gold F ields...........................................................................................
Marble and Lime Quarry in California............................................................................................
Ship Building at the Port of New York in 1852 ..............................................................................
Cotton and other Manufactories of Prussia......................................................................................
Progress of the Pennsylvania Coal Trade........................................................................................
Investments in Manufactures...........................................................................................................

252
253
254
254
255
255
256
256

R A I L R O A D , CANAL, AND S T E A M B O A T S T A T I S T I C S .
Time of sailing of Collins and Cunard Steamships.........................................................................
Working of the Ericsson Engine......................................................................................................
Railroads in the United States.........................................................................................................
Marine Disasters on the Lakes in 1851.............................................................................................
Railroads in the State of New York...............................................................................................
Steamboat Progress at the West.......................................................................................................
Large Tunnel on the Pennsylvania Railroad...................................................................................

257
259
260
261
262
262
263

MERCANTILE MISCELLANIES.
The Opium Trade..............................................................................................................................
Amos Lawrence, the Benevolent Merchant.....................................................................................
Suicide of a London Merchant.........................................................................................................
Peruvian Bark....................................................................................

264
265
266
266

T H E B OOK T R A D E .
Notices of new books, or new editions,




267-272

HUNT’S

MERCHANTS’ MAGAZINE
AND

COMMERCIAL REVIEW.
F E B R U A R Y ,

1853.

Art. I — C U B A.
CUBA.— D IS C O V E R Y — S E T T L E M E N T — E A R L Y H IS T O R Y — L O R D A L B E M A R L E ’ S E X P E D IT IO N — LAS CASAS—
F I D E L IT Y T O SPA IN — G E O G R A P H IC A L D E S C R IP T IO N O F T H E IS L A N D — P R O D U C T S — A N IM A LS— HAVANA

1580 TO 1850— E M IG R A T IO N — C A PA C IT Y F O R F U T U R E G R O W T H — A M O U N T
1849—IK P O R T 8 AND E X P O R T S — CUBAN T A R IF F — R E T A L IA T O R Y A C T O F T H E

— P O P U L A T IO N O F C U B A ,
O F C H IE F P R O D U C T S ,

U N IT E D S T A T E S — E F F E C T T H E R E O F — T A X E S IN CUBA— C IR C U L A T IN G M E D IU M — P O L IT IC A L IM P O R T *
A N C E O F CU BA — V IE W S O F F R A N C E , E N G L A N D , AND
THE

L A T T E R — P O L IC Y T O W A R D C U B A FR O M

T H E U N IT E D S T A T E S — E X T E N S IO N PO L IC Y O F

1825— M R .

A D A M S— M R . W E B S T E R — M R . P O L K ’S A T ­

T E M P T T O P U R C H A S E CU BA— M R . E V E R E T T ’S L E T T E R — C O N C LU SIO N .

C uba was discovered by Columbus on the 28th of October, 1492, on his
first voyage. H e first named the island Juana; it was afterward called
Ferdinanda, and next Santiago, but its Indian name has survived all these.
The aboriginals were an exceedingly mild and indolent race, being absolute­
ly pusillanimous. The island was divided into nine independent principali­
ties, under as many different Caciques, among which the most perfect tran­
quillity prevailed. These people were, beyond all other Indian nations, the
most easily converted to Christianity. Columbus visited the island twice
afterward, in April, 1494, and in 1502. In 1508, Cuba was circumnaviga­
ted by Sebastian Ocampo. In 1511, Diego Columbus, the son of the ad­
venturer, and Governor of St. Domingo, fitted out an expedition for colo­
nizing Cuba, consisting of above 300 men, under Diego Velasques, who
had accompanied his father on the second voyage. Baracoa was first
founded, and in 1514, Santiago and Trinidad were settled. In July, 1515,
a town was planted called San Cristoval de la Havana, which name was
transferred in 1519 to the present capital, the old town .being now called
Batabano. In 1538, the second Havana was reduced to ashes by a French
privateer, to prevent a recurrence of which disaster, the Castillo de la
Fuerza, a fortress still existing, was built by Hernando de Soto, the Govern­
or of Cuba, as well as Adelantado of the Floridas, and famous for his later




148

Cuba.

explorations in tlie Southern and Western regions of the United States, and
for being the discoverer of the Mississippi River. In 1554, the French
again attacked and destroyed Havana. About 1580, the cultivation of to­
bacco and the sugar-cane was commenced, the principal employment before
that having been cattle-breeding. As the aboriginals were found incompe­
tent to the labor of cultivation, the system of Negro slavery was introduced.
Before 1600, two other fortresses, both still existing, the Moro and the
Punta, were built for the defense of Havana. About 1616, the annual
product of copper in Cuba was about 2,000 quintals. About 1665, the
walls of Havana were commenced, and were finished by the aid of means
which Mexico was obliged to contribute. For about a century and a half
succeeding 1600, the island was in almost perpetual fear of invasion from
either the French, English, Hutch, or the pirates infesting the W est India
waters, and several ineffectual efforts were made to reduce it. 10 1762,
Havana was taken by an English fleet and army under Lord Albemarle, the
former consisting of over 200 vessels, the latter numbering 14,041 men.
The Spanish army numbered 27,610. The defense was exceedingly obsti­
nate. The English commenced operations on the 6th of June, and notwith­
standing all their means, is was not until the 30th of July that the Moro
Castle surrendered, and it was on the 14th of August that the city capitu­
lated. The spoil divided among the victorious army and navy amounted to
£736,185 3s. The next year, 1763, Cuba was restored, under the treaty
of Versailles— and this restoration of the island to the Spaniards, says Turnbull, is regarded by the native writers as the true era from whence its ag­
grandisement and prosperity is to be dated. The city and island took a
new impulse and went forward with rapidity. The administration of Las
Casas, who arrived as Captain-General in 1790, is represented as a brilliant
epoch in Cuban history. H e pushed forward with indefatigable persever­
ance a system of public works of the first utility. He introduced also the
culture of indigo, and extended the commercial prosperity of the island “ by
removing, as far as his authority extended, all the trammels imposed upon
it by the old system of privilege and restriction.” By Las Casas’ efforts,
also, the island was kept in the enjoyment of uninterrupted tranquillity at
the time of the revolution in St. Domingo, although it was universally be­
lieved a conspiracy, was formed, instigated by the French, among the free
people of color in Cuba. It would be tedious to narrate all the benefits
conferred upon the island by this wise governor, during his administration
of six years. In 1802, a fire in Havana destroyed the populous suburb of
Jesu Maria, leaving no less than 11,400 people without the protection of a
roof.
On the deposition of the royal family of Spain by Napoleon, the news of
which arrived in July, 1808, every member of the Cabildo took a solemn
oath to preserve the island for the abducted sovereign, and declared war
against Napoleon. In the course of the war the foreign trade of the island
was so reduced, that the local authorities threw open their Commerce for the
time on the footing of a free competition between Spaniards and foreigners.
Another English descent had been feared in 1807, and later an invasion by
the Fiench was expected ; but, excepting an attack by French refugees from
6t. Domingo, with the design of permanently occupying part of the island,
which, however, they were prevailed on to abandon, Cuba remained quiet,
and preserved a remarkable tranquillity, while the revolutionary proceedings
of the Spanish provinces on the continent were in full progress. In 1812
a Negro conspiracy occurred, which occasioned much alarm ; but it was sup­




Cuba.

149

pressed, and tlie leader, Aponte, with his associates, met with the customary
Spanish award to such offenders. Since that time the island has been pre­
sided over by a succession of Governor-Generals sent out from Spain, some
conducting themselves very commendably, and others seemingly careless of
whatever degree of odium their acts might attach to their names. The par­
ticulars of their administrations it is needless to recite. Suffice it to say,
that as a whole, the government has been decidedly bad, and the effect has
been to restrain the island from that elevated degree of prosperity which,
under better auspices, it might easily have attained.
W e pass now to a short description of Cuba, with a few statistical details
relating to its population, products, and trade.*
Cuba is situated between the 74th and 85th degrees of longitude, west
from Greenwich, and 19th and 23d degrees of north latitude, being the
most westerly of the W est India Islands. Its shape approaches a crescent,
with the concavity at the south. It divides the entrance to the Gulf of
Mexico into two passages, that to the north-west being thirty-two-and-a-half
leagues wide in the narrowest part, between the points of Hieacos, in Cuba,
and Tancha, on the Florida coast. The south-west passage is thirty-eight
leagues wide between the Cabo de San Antonio of Cuba and the Cabo de
Catoche, the most salient extremity of the peninsula of Yucatan. The
length of the island, following the shortest curve, is G48 miles, and its ex­
treme breadth 107 miles. The superficial extent is 31,468 square miles, or
with the other small islands attached to it, 32,807 square miles, an area a
little exceeding that of the State of Maine, and about equal to that of In­
diana. The shores are low and flat, and difficult of approach. The island
is divided into two unequal sections by a cordillera of mountains, extending
nearly its whole length ; it is well watered, and the streams are rapid, but
of course very short. The principal articles of export are too well known
to need mention. Among the fruits are the pine, or anana, oranges, shad­
docks, the forbidden fruit, melons, plantains, bananas, the mamey Colorado,
or apple, the amarilla, lemons and sweet limes, and the nispen, or sapote de
la India— all abundant. The fig and strawberry are likewise found, but not
so common. Among the roots used for food are the sweet and bitter yuca,
cassava being made from the latter, the yam, &c. Of cereal plants, Indian
corn, of which two crops are obtained in a year, rice, and beans of various
kinds, are cultivated, and wheat was formerly raised. The market garden­
ers of Havana supply the tables of the inhabitants, especially in the dry
season, with a vast variety of excellent vegetables. The cultivation of in­
digo, though often attempted, has met with little success. The cotton culti­
vation is inconsiderable, and has never engaged much attention, although
the plant thrives in many districts. Cacao is of comparatively recent intro­
duction, and was expected to supply, in some degree, the place of coffee.
The wax of the island is considered equal to that of Venice. Among the
forest trees, the mahogany, cedar, ebony, black and white guayacan, the
eourbana, the curey, the cerillo, the grenadillo, the hayajarico, or yayajabito,
and the wild orange tree, all classed among the precious woods, are abund­
ant, and the kinds used in building, and for furniture, machinery, &c., are
yet more numerous. Of minerals, copper, iron, and coal are abundant.
There is also some gold and marble, and deposits of salt, lime, and chalk
abound.
* The principal facts in this description of Cuba are gathered from a work on Cuba, by Davkl
Turnbull, Esq., an Englishman, who visited the island in 1837-8.




Cuba.

150

Of domestic animals, the ox, the horse, and the pig, are by far the most
valuable, and form a large proportion of the wealth of the island ; sheep,
goats, and mules are inferior, both in number and quantity. Of domestic
fowl, the common cock and hen are most numerous. The goose, turkey,
pigeon, and peacock are also well known. The sylvan birds are numerous.
Birds of prey are few, and the vulture and turkey-buzzard are protected by
law and custom, on account of their services in the removal of carrion. The
reefs and shallows, and the sandy portion of the beach are famous for the
turtle. The waters abound . with delicious fish, and in the gulfs and bays,
the crocodile and cayman are found. The manati inhabits deep pools of
fresh water, and the iguani, a kind of lizard, is found on the banks of rivers,
bays, and lagoons. The land-crab is in some parts very numerous and
troublesome. The surface is sometimes undermined by them for half a
league continuously, and the traveler is liable to serious accident by breaking
through.
Snakes and reptiles are not numerous. The maja, twelve or fourteen feet
in length, and eighteen or twenty inches in circumference, is the largest, but
is less dangerous than th ejubo, about six feet long, which has no hesitation
in attacking a man.
Among the useful insects are the bee, and phosphorescent flies, which
may be used for light. The noxious insects are the nigua, or jigger, a spe­
cies of ant called vivajagua, the family of mosquitoes, some of them pow­
erful enough to draw blood through a thick leather glove, the sand-fly, the
scorpion, less poisonous than that of Europe, and spiders, whose sting is ma­
lignant enough to produce fever and endanger life.
Havana, the capital of the island, has one of the most safe, capacious,nnd
best defended harbors in the world. I t is guarded by six strong-holds, and
a wall, with ditches, surround the city. The rise and fall of the tide is 22
inches, and the depth of water at the entrance not less than eight fathoms.
The population in 1827 amounted to 112,023, of which there were within
the walls, free and slave, 37,980, and in the suburbs, 54,043 ; the garrison
numbered 18,000 of the above total. The whites w'ere 4G-,621 ; free N e­
groes, 15,347 ; free mulattoes, 8,215 ; Negro slaves, 22,830 ; mulatto slaves,
1,010. The city had 3,671 houses, all of stone, the suburbs 7,968 houses,
of various materials. In 1840, Havana had 240,000 inhabitants, and the
present population is not less than 300,000, making it the next city in size
to New York upon the whole American continent.
The city of Puerto Principe contained a population of 49,012 in 1827,
and is at about that figure at present. Matanzas, Santiago, Trinidad, Neuvitas, Baracoa, San Salvador, &c., are the other chief towns. Santiago is
very unhealthy, being peculiarly liable to the ravages of the yellow fever.
The population of Cuba was at different periods as follows:—
Years.

1580...................................
1602..................................
1680...................................
1775..................................
1791..................................
1817...................................
1827..................................
1838, (estim ated)...........
1841..................................
1850..................................




White.

...........

Free colored.

...........

Slaves.

...........

94,419

30,615

44,336

...........
311,051
400,000
418,291
605,560

...........
106,494
110,000
152.838
205,570

199,145
286,942
360,000
436,495
436,100

Total.

16,000
20,000
40,000
170,370
272,140
630,980
704,487
870,000
1,007,624
1,247,230

Cuba.

151

In the fifty-two years between 1775 and 1827, the increase of the popu­
lation of Cuba was 413 per cent— that of the United States, in the same,
rapid as it was, did not reach above 400 per cent at the utmost. In the
period between 1790 and 1850, the growth of the population of Cuba was
about 490 per cent, and that of the United States, 592 per cent. After
the United States, the growth of Cuba must have exceeded th at of any
other portion of the continent. Many peculiar circumstances have combined
to produce this result, apart from natural causes. An extensive emigration
from Jamaica to Cuba, said to reach 30,000, took place in 1055, when the
former island was taken from the Spaniards; in 1056-7, near 8,000 em i­
grated thither from Jamaica. In 1763, the English having evacuated H a­
vana, and retaining still possession of the Floridas, a like emigration occur­
red from the latter. In 1789 and 1791, the permission to foreigners to
bring in slaves, gave a strong impetus to emigration toward Cuba from other
than Spanish dominions. In 1795, the Spanish port of St. Domingo being
ceded to France, a strong migration of Spanish subjects flowed thence upon
Cuba. Another followed from New Orleans on its cession to the United
States, in 1803. The invasion of the Peninsula by Napoleon, in 1808, and
its troubles throughout, with the subsequent revolutions and the disturb­
ances following them in the Spanish provinces on the continent, stimulated
a heavy tide of emigration from different quarters toward that island, which
remained all the while in comparative tranquillity. W ith all these favoring
circumstances, had Cuba been possessed of a good government, uniting a be­
neficent administration of the laws with a judicious commercial policy, it is
almost impossible to estimate the degree of importance it would have at­
tained at the present time. W e think it beyond a doubt that the city of
Havana would, under as favorable political auspices as those of the city of
New York has enjoyed for 50 years past, have as far exceeded the latter in
size, wealth, and commercial importance, as it is now itself exceeded by that
city. As to the capacity for future growth, Cuba has yet a large future. It has,
at present, only 40 inhabitants to the square mile, a density much below
that of either of the three principal States of the Union— Ohio having 50
to the square mile. W ith a density equal to that of New York in 1850,
Cuba would contain above 2,000,000 inhabitants, and with the density of
Massachusetts, 4,000,000, or one-sixth as many as the whole present popu­
lation of the Union ; while its capacity for the support of population cannot
be inferior to that of any portion whatever of the United States.
The following is a statement of the value of the principal articles of Cuban
pro d u ce in 1 8 4 9 :—
P R O D U C TIO N S O F CUBA IN

Garden fruits.......................
Sugar . . . . ........................
Esculent vegetables & fodder.....................................
Tobacco.......... ....................
Coffee..................................
Indian corn..........................
Charcoal ............................
Cedar, mahogany, & other
■woods...............................
Molasses........................... ....

1849.

$14,839,050 Other agricultural products..
18,699,924 Beef...........................................
P o r k .........................................
6,097,080 E g g s .........................................
6,042,829 Birds..........................................
2,206,131 Milk...........................................
1,884,982
1,750,110 M u tto n .....................................
1,711,193
1,462,728

$3,728,175
3,605,780
1,346,055
1,166,880
1,074.216
326,040
180,289
120,000

T otal................................ $59,791,46*

The value of th e im p o rts a n d ex p o rts o f th e islan d, for a series o f y e ars,
h a s been as follows :—




152

Cuba.

Years.

Imports.

Exports.

Years.

1837.. $22,940,357 00 $20,346,607 00
1840 . 24,700,189 31J 25,941,783 3 7 |
1841 . 25,081,408 50
26,774,614 56J
1842.. 24,637,527 25
26,684,701 00
1843 . 23,422,096 4 3 f 25,029,792 62^
1844. 23,771,865 00
25,426,591 18f

Imports.

Exports.

1845 . . $23,499,357 00 $18,792,812 00
22,000,588 00
1 8 4 6 .. 22,607,427 00
27.998,770 00
1847 . . 22,389.119 00
26,077,068 00
1848 . . 25,435.565 00
22,436,566 00
1849 . . 26,320,460 00
I860 . . 28,983,227 561- 25,631,948 00

The principal articles of import and export, for the two years, 1837 and
1849, at the Cuba custom-house valuation, are exhibited herein :—
IM P O R T S .

1817.
"Wines, liquors, and liquids... .
Beef, pork, and other m ea ts...
Spices and fruits.......................
Grain and flour..........................
F is h .............................................
Other provisions, <fcc.................
Manufactures of cotton............
“
of linen..............
“
of wool..............
“
of silk ...............
“
of le a th e r.........
Lumber and articles of wood.
Miscellaneous............................

1819.

$1,827,764
1,425,497
293,565
3,302,849
437,909
1,629,161
3,233,120
2,881,999
576,178
516,484
501,432
1,899,627
979,838
3,422,930

$2,732,360
1,971.260
333,950
4,160,140
653,680
1,968.380
2,487,200
2,840,980
487,890
330,940
433,710

$69,010
7,927,526
2,133,567
171,800
63,384
718,598
1,267,496
560,948
81,562
128,906
39,967

$232,796
15,559,745
877,636
134,980
48,103
1,478,202
1,236,762
501,055
24,619
113,195
39,541

1,721,200
5,975,940

EXPORTS.

R um .............................................
Sugar...........................................
Coflee..........................................
W a x ............................................
Honey..........................................
M olasses....................................
Cigars .........................................
L eaf tobacco..............................
F r u i t ...........................................
Mahogany....................................
Cedar...........................................

Of the imports into Cuba in 1850, there was from Spain 29.81 per c e n t;
from the United States 22.96 per cent; from England 21.10 p erc en t; Ger­
many 7.27 per cent; France, 6.03 per c e n t; and Spanish America, G.91 per
cent. Of the exports, 11.98 per cent was to Spain; 32.61 to the United
States; 27.55 to E ngland; 7.30 to Germany; 7.27 to F ran ce; and 2.26
to Spanish America. The amount of the imports to, and the exports from,
each country, in the years 1849 and 1850, may be found on page 79, of
the 26th volume of the Merchants' Magazine, (January, 1852.)
The following statement of the imports and exports at the different ports
of the island in 1849, shows their commercial rank, severally:—
IM P O R T S .

Spanish vessels.

Foreign vessels.

Total.

Havana.................
M atanzas...........................................
C ard en as..........................................
T rinidad............................................
Cienfuegos.........................................
Sagua la G ra n d e ............................
St. Jago de Cuba.............................
Others................................................

$13,296,000
1,167,000
........
270,000
193,000
................
1,166,000
275,000

$6,450,000
1,097,000
339,000
379,000
392,000
88,000
887.000
322,000

$19,746,000
2,264,000
339,000
649,000
585,000
88,000
2,053,000
597,000

T otal.....................................

$16,367,000




$9,954,000

$26,321,000

153

Cuba.
EXPORTS.

Spanish vessels.

Foreign vessels.

Total.

Havana..............................................
M atanzas...........................................
Cardenas............................................
T rin id a d ...........................................
Cienfuegos........................................
Sagua la G ra n d e ............................
St. Jago de Cuba.............................
Others................................................

§4,189,000
656,000
9,000
133,000
71,000
..............
367,000
168,000

§7,276.000
3,191,000
650,000
1,011,000
997,000
657,000
2,536,0u0
541,000

$11,465,000
3,847,000
659,000
1,144.000
1,068,000
657,000
2,903,000
793,000

T otal....................................

$5,573,000

$16,963,000

$22,536,000

The leading articles of export from the United States to Cuba, in the year
ending June, 1851, were, according to the Secretary of the Treasury’s an­
nual exhibit, as follows:—
Whale oil..................... galls.
Linseed oil...................
Spermaceti c an d les...
Tallow caudles...........
Dried or smoked fish . . qtls.
Pickled fish.................
T allow .......................... ..lbs.
Butter...........................
Cheese..........................
P o rk ............................
Flour and bacon.........
L a r d ............................
Boards and p la n k s.. . ...M .
Other lum ber............. ..dolls.
Manufactures of wood
Household furniture .
Specie and bullion....
Piece (fc stuff good & prints .
Cocoa............................ . .lbs.
F ig s..............................

184,094
3,311
66,925
715,764
41,062
2,289
548,367
418,777
256,162
3,364
1,240,803
7,836,153
54,491
37,816
1,353,616
58,783
1,033,884
105,964
98,343
33,374

Indian corn.................
Indian m eal...............
Potatoes......................
Apples........................
R ic e ............................
Soap .......................... . .lbs.
L eather........................
Tobacco.......................
Beer, ale, porter, cider.galls.
N a ils.......................... . .lbs.
Castings and other manufac.
iron and steel......... . dolls.
Paper and stationery.
Paints and varnish. . .

Pepper..........................
Cordage.......................
Salt................................

229,105
3,398
66,058
6,964
27,618
380,748
16,864
191,615
85,251
2,698,886
534,422
31,119
11,830
23,225
14,092
18,320
603,189
29,326
77,491

The total export to Cuba being §0,524,123, of which §5,239,276 was the
produce of the United States. Of this export, §6,318,962 was carried in
American and only §205,161 in foreign bottoms. The total export to all
the dominions of Spain was §13,249,056.
The principal articles imported into the United States from Cuba, in the
same year, were—
C offee........................... bbis.
Molasses..................................
Sugar, b ro w n .............. lbs.
“ white, clayed, or pow­
dered......................
Cocoa......................................
Almonds................................
Specie and b ullion.. . .dolls.
Copper ore.............................

3,099,084 Tobacco, unmanufact’d .. .lbs.
31,578,462 j Cigars .................................M.
275,327,497 Other manufac. tobacco.lbs.
Indigo.....................................
2,174,194 Cedar, mahogany, grenadil32.898 j la, rose, and satin, unman27,125
u fa ctu red .................. dolls.
338,998 j Dyewood in stick.................
11,071'

J

3,396,796
162,904
22,460
13,144
97,580
11,505

The total import from Cuba amounted to §17,046,931, a larger amount
than was brought into the United States from any other country, excepting
England and France.
Tt e Cuban tariffs have always been very unequal, and through all their
modifications,, have been especially onerous (not with particular design) on
the trade of the United States. Under the late tariff, the duty on flour
was §2 a barrel. W heat is little grown in Cuba, and in 1837 the price of




154

Cuba.

American flour in Havana was $45 a barrel. On coffee there was an export
duty of one cent per five pounds, and on tobacco of one-half cent a pound.
The differential duty, making a reduction of about 7 per cent on foreign
goods brought in Spanish bottoms, and on Spanish produce of about 7±
per cent under the same goods in foreign bottoms, has given such efficient
protection to the trade under the Spanish flag, that it has increased to about
half the whole Commerce of the island. The effect has been unfavorable
to the revenue of the island, but the system, an American resident writes,
last year, was likely to continue, as it “ lessens the burdens upon importers
and consumers, finds employment for a vast amount of Spanish tonnage,
and last, though not least, influences the trade to Spanish commercial houses,
who are already rivaling in consequence the great American and English es­
tablishments, for so many years known to fame in other mercantile commu­
nities, and who, especially the Americans, almost monopolized the trade
of this great city during the existence of the wars with South America and
Mexico, whose privateers almost annihilated the Spanish mercantile marine.”
The new tariff of Cuba, jvill be found under the head of Commercial
Regulations, in the present number of the Merchants' Magazine.
The very heavy burdens imposed upon our trade by the Cuban tariffs,to­
gether with the reservations made in favor of Spanish vessels, induced Con­
gress to adopt the rather questionable policy of a retaliatory act, passed
about 1834, and still in existence. This law provides that in all cases of
Spanish vessels clearing from a port in the United States for a port in the
islands of Cuba or Porto Rico, there shall be charged as tonnage money on
said vessels, an amount equal to the excess of import duties chargeable on
the cargoes of said vessels by the tariffs of said islands on American over
Spanish bottoms.
This act is objected to as unconstitutional, on the ground th at Congress
is prohibited from imposing any export d u ty, which this tonnage charge is
said, in effect, to be. The result of the measure has been, it would appear,
to reduce the trade between Cuba and the United States in Spanish ves­
sels to a very small figure. The imports iuto Cuba from the United States,
under the Spanish flag, were but $11,050 in 1849, and the exports from
Cuba to the United States, $2,129 only. The trade under the same flag
with Europe was, the same year, as follows:—
France..............................................................
E ngland...........................................................
Germ any..........................................................
B e k iu m ...........................................................
Denmark..........................................................

$770,930
4,345,300
912,730
323,300
320,270

$399,770
638,320
316,790
123,000
14,800

T otal....................................................

$6,672,540

$1,492,608

In the year ending June, 1851, 121 Spanish vessels, of 28,422 tons en­
tered the United States from Cuba, of which but 3 vessels, of 523 tons
cleared again for Cuba. B ut all that is thus lost to the Spanish vessels is
pot a transfer of freightage to our vessels. Our exports are confined almost
wholly to bulky or cheap articles, which cannot afford the difference of freight
charged by Spanish vessels, or to such as can be obtained only of the Uni­
ted States. “ It is,” says a correspondent of one of our journals, writing
from Cuba, “ familiar to the recollection of all interested in the Cuba t:ade,
that vast amounts of China, Russian, French, German, and English goods
were formerly imported into the Island of Cuba from the United States un­




155

Cuba.

der drawback, yielding the usual profits or commissions on such trade, and
furnishing indirect employment to their citizens.”*
The revenue of Cuba, according to Turnbull, in five years ending with
1837, averaged $8,948,581 ; 61 per cent of this amount was from the cus­
toms, and the rest was made up from various internal revenues. In 1844, the
revenue was $10,490,252 87; and for the three years, 1 8 4 7 -8 -9 , the
amount from each source was as follows:—
Inland ta x ............................
Im port duties and tonnage.
Export duties.......................
Total.......................................................

1817.

1818.

1819.

$5,096,538
6,174,533
709,325

$6,038,715
6,580,500
816,226

$5,840,260
5,844,783
584,477

$12,880,446

$13,435,441

$12,269,420

The internal tax is made up principally from the Diezmos, a tithe collect­
ed upon certain agricultural products ; the Alcavala, a duty of 6 per cent
upon the amount of all sales of lands, houses, Negroes, or any other proper­
ty requiring a notary—it is the most onereus.of the internal taxes; the
Lottery, of which there are sixteen drawings in each year, all other methods
of open gambling being prohibited. The Lottery yielded $600,000 in
1848. Of the revenue collected in the island, the greater portion is con­
sumed in the administration, and only a small balance is sent to Spain.
There has never been what the Spaniards call a cataslro, a minute periodi­
cal valuation of all the real property of the island, as a basis for taxation.
The mere attem pt to establish a catastro, Turnbull says, would have been
treated as an open breach of the privileges and fueros of the landed propri­
etors ; would have inflamed the minds of the inhabitants at larg e; and
would have led, in all probability, to a general conflagration. The reason
assigned for this exemption is, that all the American provinces of Spain
have, ever since their discovery, been constantly regarded as integral por­
tions of the ancient kingdom of Castile, which has enjoyed the same privi­
lege over the kingdoms of A ragjn and Valencia and the principality of
Catalonia.
The circulating medium of Cuba, like that of Spain, is composed entire­
ly of the precious metals— and the island presents, probably, as favorable an
instance as is to be found of a country or large community, ranking among
enlightened people, engaged largely in trade, with only the aid of simple
hard-money currency. W hen the Sub-Treasury was under debate in Con­
gress, about 1840, very frequent allusions were made to Cuba, by the advo­
cates of the measure, particularly by Benton, Walker, Silas W right, and
Buchanan. She was presented by them as, in the matter of current y, a
model for the United States. But the other party did not admit that Cuba
had herself realized the benefits from her system attributed to it. It is cer­
tain, on a review of her condition and affairs, that Cuba carries on a great
and healthy trade, that wealth has rapidly accumulated, and that agricul­
ture and Commerce have been swiftly extended, and that much capital has
been expended in various improvements, without any aid from foreign loans
or credits, or any of the plans pursued elsewhere to enlarge the currency.
Under a better political system, a vastly greater result could have been ac­
complished. W hether the island would have attained a more prosperous
condition with a mixed currency, depends wholly on the question whether
* We are glad to see that a bill has been brought into the Senate to repeal the injudicious act
in question.




156

Cuba.

she would have been most disposed to the abuse or to the judicious use of
the representative money.
In political importance, Cuba maintains at the present time, and indeed
has held during at least this century, a rank above that perhaps of any other
State or province of no larger territorial dimensions and population, and
having a share so purely passive in the affairs of the world. It is the result
entirely of her vast natural opulence, conjoined with her remarkable geo­
graphical position. As to any posi ive action of hers in the field of human
politics, many counties and even parishes in other countries have exerted a
more effective influence. B ut the island has stood and yet stands as a splendid
prize, tempting the cupidity of the great maritime nations. Certainly no
one of the great commercial powers of Europe has been for a half-century
any more unwilling to own Cuba than the United States has been ; and
notwithstanding their several protests on this point, we are still disposed to
believe that prudential considerations alone have heretofore restrained each
of them from endeavoring to gratify a desire for this Spanish vineyard.
France has not been powerful enough, at least since Napoleon I., to attem pt
the acquisition. England has disclaimed, with most solemnity of all, any
design, at any time, to bring Cuba into her respectable family of dependen­
cies, and perhaps England is honest therein; yet she is accused of an ac­
quisitive design, persistently kept in view, aiming by an insidious, and, it
should be said, a very patient policy, to effect, in time, the cherished end.
I f this has been so, it seems now likely that in the delay of a too gradual
advance toward her ultimate object, the fruition has been sempiternally post­
poned. A t the present time, we readily accept the affirmations of each of
these powers as sincere, believing that neither of them desires to add to its
already sufficiently complex affairs any new and needless difficulties, and
th at their object is simply, w hat it professes to be, to restrain the United
States from the annexing irruption which they fear our people are preparing
to make upon Cuba.
It is not to be denied th at an eye of favor is turned toward Cuba in the
United States, and it is, indeed, highly probable that had the subject been
thoroughly discussed by the people, the sentiment of a decided majority would
be that Cuba ought to be acquired whenever that can be effected in a safe
and honorable manner. B ut they have not yet any of that mad devotion
to the object, which the English journals wrongly infer from the animus of
one or two “ indignation m eetings” in the large cities, must boil through­
out the Union ; and if not goaded into an excitement by the policy of for­
eign powers, are not likely to get into any phrensy at all about Cuba. A
portion, not inconsiderable, of the people have seen no occasion, as yet to
give the subj-ct any definite thought. The number of those rash spirits
dedgnated Jlibustiers is exceedingly small and uninfluential, in all sections, and
such a damper has been put upon their hopes by the expressions of opinion
made in Congress at the opening of the present session, and by the state of
public feeling, that they are likely to be very quiet for some time. Even the
so much denounced piratical “ Order of the Lone Star,”* professes its object
to be only to “ assist any people struggling for freedom, whenever they can
do so without violation o f their duties and obligations as American citizens.”
According to present appearances, the policy of President Fillmore on this
matter, will in the main, be fully sustained ; and there is very good reason
to believe, notwithstanding what has been said about the issues at the late
* This order is said to number, at present, about 28,000 men.




Cuba.

157

election, that if circumstances continue of the same cast as at present, no de­
parture from this policy will be made by his successor— a gentleman of the
old-fashioned, or Conservative-Democratic school, remarked for very cool
judgment and a cautious temperament.
A word here in regard to the character of that ambition for enlargement,
in its general phrase, which our trans-atlantic cotemporaries term the rapa­
city, or plundering propensity of the United States. That there is an acquis­
itive organ on the national cranium, and that it is very respectably developed,
is a fact we need not deny. The desire of extension, moreover, fed and ex­
cited at frequent intervals in our brief history, has become something like a
passion; but yet, enormous as our appetite for land appears to our elder
brethren, it is very far from being a reckless territorial lust. W e do not
seize and swallow indiscriminately; nor does the pleasure we derive come
from destruction. W e do not labor under the self-encumbering gluttony of
empire that has afflicted so many nations of ancient times, and of modern
times, likewise. It is neither the lawless passion of a crowned madman, nor
the vain pride of a selfish people, who wish only to carry the terror of their
arms over the whole world, and to tread on the necks of all who are not of
their name. There is an intelligent idea, a humane purpose, in the empiremovement. of the American people, comparing favorably with the national
motives actuating any other people of this age. The intention and the result,
in every one of the annexations thus far, have been for the benefit of both the
parties principally concerned. W e have come fairly and honorably into the
possessorship of each acquired territory, and have given to each a full and
free share in all the privileges before enjoyed by ourselves. Our annexation
progress is, secondarily, the result of a superior education of the people—
of expanded popular conceptions— of grand thoughts in the masses; pri­
marily, we believe it to be an impulse implanted by a higher power, and
that it is the inception of a great movement that is designed to obliterate
many of the feeble nationalities and petty distinctions of tongue, that now
divide men, bring nations in a better communion, and teach the general r .ce
a better life and better relations than they have hitherto known.
The prominence which our expansive tendency lia s assumed, of late, has not
only arrested the earnest attention of other nations, but has also greatly
alarmed many of our own people, who anxiously ask— W hither is the Republic
going ? Hasty and ill-advised projects of annexation, are, indeed, fraught
with a danger by all means to be avoided ; and there are evils and dangers
behind the best considered schemes of extension. I t is, indeed, not yet
proved, as so many politicians of the boa-constrictor cast of statesmanship
confidently assume, that the capacity of our government for extension is il­
limitable. But, on the other hand, we cannot now forsake the position we
have reached, and return backward to an old policy. I t is impossible for
us to renounce our future, and withdraw within our shell, to avoid by refus­
ing touch of the world around, the collis on that follows touch. W e have,
hackneyed as the phrase has become, a “ destiny ”— a “ manifest destiny ” to
perform ; and however intently we may seek, as we ought, to follow in the
general policy of Washington, as the safest and best for all times, yet we
cannot avoid the calls to bold, manly, authoritative action, which our position
will necessitate. W ith a leader’s strength wc must take a leader’s p o st;
and that will demand a spirit that will go forward to meet obstacles in its
way, without waiting for others to clear the path. W e shall have, often,
careful as we may be, in national justice and amenity, and averse as we may
be to mingle in the disputes of others, to declare direct and unqualified hos­




158

Cuba.

tility to evil principles and practices, without endeavoring to circumvent
them by some by-path of non-intervention. W e shall, assuredly, be at some
time, under the necessity of extending our boundaries, by other annexations,
however much protested against; and will be obliged, hower much forbidden,
to take high interest in the concerns of people and States, in which we-have
little present concern. All this, while our political Mentor is Washington
still, and not Kossuth.
To return. 'Although the eye of the government of the United States
has been intently fixed on Cuba, for above twenty-five years, its policy to ­
ward her has been throughout the whole period, honorable and dignified.
It was not a covetous gaze that was turned thither from W ashington, but
the watchfulness of a keen and vigilant statesmanship, observant of every
thing affecting American interests. Let us here briefly notice the leading fea­
tures of this Cuban policy of our government. If the thoughts of Amer­
ican statesmen had not previously turned towards Cuba, the purchase of
Louisiana, it would seem now, could not have failed to direct them, in some
degree, to that point. The prime object of that acquisition was to secure
the freedom of the mouth of the Mississippi; this object immediately at­
tained, and the other difficulties which drew the public mind with such pain­
ful solicitude to that quarter, being adjusted by the cession, the country and
its guardians were free to look elsewhere for the trouble next to come. Fol­
lowing their vessels down the Mississippi and across the broad gulf into
which that noble river disembogues, they must have perceived that the real
outlet of the Mississippi was still in the possession of others, and that with
any hostile power in occupancy of the “ Key of the Gulf,” the Commerce of
the W estern region was almost as completely hemmed in as when the Span­
ish batteries were in guard of the channel at New Orleans. B ut reasons
many and sufficient existed then to preclude all thought of an endeavor to
complete the design of the purchase of Louisiana, by further acquisitions.
The interests of the W est had not then attained that degree of importance
that seemed to demand any further immediate hazard on their behalf; all
that had been aimed at, was for the time being enjoyed, and Spain was
too much embarassed already in both her European and American relations,
to provoke the hostility of the United S tates; on its own part, our govern­
ment was too much involved in questions of immediate and pressing emer­
gency, to spare attention to matters whose interest attached rather to the
future than to the present; even if Spain would sell to us, we lacked money
to b u y ; in the attem pt of acquisition, by any possible mode, our foreign re­
lations, already so very critical, were certain to become still more embarassed.
In the probable event of war, we might not be able to defend Cuba to our­
selves, if we owned it. B ut more than all, our fathers, although they pur­
chased Louisiana were notflibustiers, nor professed extensionists of the “ area
of freedom.” They had not the smallest design of annexing the whole con­
tinent, and excepting Aaron Burr, who, we should perhaps say was in ad­
vance of the age, np public man of that day had dreamed even of “ swal­
lowing Mexico.” They were inexperienced in that kind of business, and in
the purchase of Louisiana itself, hesitated between the apparent necessity
th at pushed them forward, on one hand, and the magnitude of the act, which
joined with a dreaded, though silent, constitutional negation, repulsed them
on the other. Grand as the consummation was, they almost felt its attain­
ment an enorm ity; at any rate, their appetite for annexation was satiated,
and they turned thenceforth no covetous eye without their established
limits.




Cuba.

159

I t was not until the lull in our foreign and home affairs that followed the
second British war— the commencement of the second era of our constitu­
tional politics, when we had thoroughly overcome the peculiar dangers and
vexations of the first period, had attained a very respectable elevation in the
community of nations, and had by the results of the late conflict acquired
a self confidence, even more than commensurate with our real increase of
strength— that our statesmen took official recognition of the position of Cuba,
and allowed it to contribute a feature to the new policy. Henry Clay, from
the outset the ardent champion of the independence of the Spanish Amer­
ican colonies, proposed at this period to enlist the United States actively in
behalf of the cause, and urged in the House of Representatives his views
of “ interference” against the re-subjugatory efforts of Spain, with all the
vigor of his matchless eloquence. Mr. Monroe and his Cabinet, with their
chief supporters, had a strong leaning in that way also, but were not pre­
pared to go the length advocated by Mr. Clay, who was suspected of a de­
sign to affect a new division of parties, the Federalists, as a national party,
having ceased to exist, and to elevate himself upon a policy counter to that
of the administration. The ultimate end of Mr. Clay’s design was, un­
doubtedly, the total expulsion of Spain, if not of all other European powers,
from the continent, and from the islands belonging to it.
In 1823, the allied sovereigns, having suppressed the popular government
in Spain, the restored king, Ferdinand, invited them to assist him farther in
reducing his rebellious colonies, which he was, alone, incapable of doing.
The matter was in consideration, when England peremptorily declared, through
Mr. Canning, that upon any such interference in the affairs of Spain and her
colonies, she would recognize the independence of the latter, and this was
followed in the United States by the bold and unequivocal utterance of the
famous Monroe doctrine, which was concurred in by the whole cabinet, and
was received with shouts of eager approval by the whole country.
In the acts and schemes here alluded to, Cuba was pointed at only as one
of the American possessions of Spain, and was less referred to as not having
manifested any real disposition to free herself along with the rest of her sis­
ter colonies. It was the master mind of John Quincy Adams, the control­
ling spirit of the Monroe administration, which took the first comprehensive
survey, with immediate regard to our own concerns, of things ato u r south­
eastern terminus, and devised and adapted thereto a system of measures of
remedial and preventive design. The first of these measures was the acqui­
sition of the Floridas, happily effected by purchase, after a long and tedious
negotiation, in which the consummate diplomatic tact of the Secretary was
fully displayed, the President having intrusted him with the entire manage­
ment of the affair. Next, Mr. Adams turned his eye earnestly upon Cuba,
and in a dispatch, in which the destiny of Cuba, in the event of its being
lost to Spain, is treated of, he asserts the political gravitation of Cuba in
this forcible simile :— “ That if an apple severed by the tempest from its na­
tive tree could not choose but fall to the ground, so Cuba, forcibly disjoined
from its own unnatural connection with Spain, and incapable of self support,
COULD GRAVITATE ONLY TOWARDS THE NORTH AMERICAN U N IO N ; w h ic h

by'the same law of nature could not cast her off from its bosom.” And he
declares that Cuba has “ an jmportance in the sum of our national interests
with which that of no other foreign territory can be compared, and little in­
ferior to that WHICH BINDS THE DIFFERENT MEMBERS OF THIS UNION TO­
GETHER.




160

Cuba.

A t the commencement of Mr. Adams’s administration, (which followed in
the track of the preceding one, except in so far as it yielded to Mr. Clay’s
views on receiving him as a member,) the States of Central America de­
signed the conquest of Cuba, with a view to annex it to their own confed­
eracy, and England and France were supposed, in the United States, to be
meditating a similar purpose, either alone, or in connection with the other
American Republics. The press of this country was much occupied with
the subject, and the public attention was turned with interest toward that isl­
and. Cuba was spoken of by a London Journal at this time, (1825) as
“ the Turkey of transatlantic politics, tottering to its fall, and kept from fall­
ing only by the struggles of those who contend for the rig h t of catching her
in her descent.”
Feeling as sure as he had expressed himself of the ultimate destination
to which the political gravitation of Cuba would bring her, Mr. Adams
deemed a moderate policy the best to be adopted; viz : to wait the course
of events until the prize should fall of itself into our grasp. It was accord­
ingly officially promulgated to England, France, and Russia, that the United
States was satisfied that Cuba, together with Porto Rico should remain in
the possession of Spain, but that we could not see with indifference their
transfer to any European power. This policy was strictly adhered to during
Mr. Adams’s administration, and in Mr. Clay’s instructions to the commis­
sioners sent to the Panam a Congress, one of the objects stated is to prevent
the other Republics from attem pting the conquest of Cuba. In answer to
the attacks of the opposition in Congress upon the administration on ac­
count of its foreign policy, who accused Mr. Adams of departing from the
honored doctrine of neutrality, and of attem pting a dangerous interference
in the affairs of other nations, Mr. W ebster made one of the most eloquent
speeches of his life, in the House, defending the Monroe doctrine, and up­
holding the Panam a mission, and other measures connected in principle
with these. “ W hat,” he exclaimed, “ do we mean by our neutral policy?
Not, I suppose, a blind and stupid indifference to whatever is passing around
us ; not a total disregard to approaching events, or approaching evils, till
they meet us full in the face. * * * * Our neutral policy, is a policy
that protects neutrality, that defends neutrality, that takes up arms, if need
be, for neutrality.” H e maintains that if Mexico were attacked, the
act would call “ for decided and immediate interference by us.” Of Cuba,
he speaks as “ the most important point of our foreign relations,” and denies
the assertion that the United States have no right to interfere to prevent
Spain from transferring Cuba to another power, should she undertake to do
so. Tne right of self-preservation he declares gives us authority to so inter­
fere ; and he thus sketches the evils of tamely allowing Spain to dispose of
it as she might please, or of permitting others to take it from her
“ Cuba
as is well said in the report of the Committee of Foreign Affairs, is placed
in the mouth of the Mississippi. Its occupation by a strong maritime power
would be felt, in trhe first moment of hostility, as far up the Mississippi and
Missouri as our population extends. I t is the commanding point of the Gulf
of Mexico. See, too, how it lies in the very line of our coastwise traffic;
interposed in the very highway between New Y o rk and N ew Orleans. Now
sir, who can estimate the effect of a change which should place this island
in other hands, subject it to new rules of commercial intercourse, or connect
it with objects of a different and still more dangerous nature 2”
In 1827, as shown by recently published diplomatic correspondence, Mr.




Cuba.

161

Alexander II. Everett, then Minister at Madrid, informed the government
of a plan entertained by the British Ministry to possess themselves of C u b a;
but as no attem pt was made to carry out the design, no effort was needed to
defeat it.
During the Democratic administrations of Gen. Jackson and Mr. Van
Buren, we hear but little of the concern of our government in Cuba or Cuban
affairs. Still, on one or two occasions, and especially in the latter part of Mr.
Van Buren’s administration, the policy of Mr. Adams regarding the possess­
ion of Cuba by Spain, is re-affirmed. In Mr. Forsythe’s instructions to Mr.
Vail, dated July 15, 1810, he say s:— “ You are authorized to assure the
Spanish Government, that in case of any attempt, from whatever quarter, to
wrest from her this portion of her territory, (Cuba,) she may securely de­
pend upon the military and naval resources of the United States, to aid
her in preserving or recovering it.” The same assurance was repeated in
Mr. Tyler’s administration, by Mr. Irving, in conformity to instructions from
Mr. Webster, who, it thus appears, held still to the ideas he had entertained
on this point fifteen years before.
The effort of Mr. Polk to obtain possession of Cuba by purchase, is the
most remarkable development in the papers alluded to. W e see nothing in
it, however, that was not entirely proper and honorable. It was just at the
close of the Mexican W ar, and although a revolution was projected in the
island, which the volunteer regiments of our army returning from Mexico
were invited to aid in effecting, the commanding general was ordered to
prevent any such aid, and to see that the troops were brought directly to
the United States, without in any event touching at any place in Cuba. Mr.
Buchanan’s despatches to Mr. Saunders profess the same willingness express­
ed by the previous administrations that Cuba should remain in possession of
Spain, and declare like them that “ we can never consent that this island
shall become a colony of any other European power. In the possession of
Great Britain, or any other strong naval power, it might prove ruinous both
to our domestic and foreign Commerce, and even endanger the union of the
States. The highest and first duty of every independent nation is to provide
for its own safety : and, acting upon this principle, we should be compelled
to resist the acquisition of Cuba by any powerful maritime State, with all
the means which Providence has placed at our command.”
Assuring the Spanish government th a t the United States have done noth­
ing to countenance a revolution in Cuba, and that it will resolutely suppress
all atterr/pts in the United States to incite or aid such revolution, Mr. Bu­
chanan proposes a peaceable purchase, offering one hundred millions of dol­
lars as the maximum price. Gen. Saunders attempting to open a negotiation
at Madrid, under Mr. Buchanan’s instructions, was very courteously listened
to, but received from the Minister of State, as answer;— “ That it was more
than any minister dare to entertain such proposition; th a t he believed such
to be the feeling of the country, that, sooner than see the Island transferred
to any power, they would prefer seeing it sunk in the ocean.”' Such was the
summary conclusion of that negotiation.
W e come now to the last document in the series, received ju st as we wero
closing the preceding paragraph, the letter of the present Secretary of State
addressed to the Count de Sartiges, in relation to the proposed Tripartita
Treaty. W e are happy to find that the views of the Secretary are almost
identical with those we designed at this point to express. We regard this
V O L . X X V III.— N O. I I .
11




162

Cuba.

document as the ablest and best-toned state paper yet written on the sub­
ject of Cuba.
In stating the reasons which induced the President to decline the proposed
arrangement, Mr. Everett asserts that the United States have a very different
reason from any that England and France can have for their interest in pre­
venting Cuba from falling into other hands. The United States are in no
wise uneasy at any natural increase of territory on the part of England and
France. But the transfer of Cuba to any European power, could not take
place without a serious derangement of the international system now existing,
and would indicate designs in reference to this hemisphere which could not
but awaken alarm in the United States. W e should view it as France and
England would an attem pt on the part of the United States to get possess­
ion of some important island in the Mediterranean. H e informs the min­
ister that the President “ considers the condition of Cuba as mainly an
American question,” while the proposed convention “ assumes that the
United States has no other or greater interest in the question than France or
England.” Ho objects to the convention again, as repugnant to our consti­
tution, and to our great rule of foreign policy—the avoiding all entangling
alliances— as established by W ashington and Jefferson. Depicting the sit­
uation of Cuba relative to the Mississippi, he says if a like island, owned by
Spain, guarded the entrance to the Thames or Seine, and the United States
proposed to France and England such a convention as this, in regard to it,
they would assuredly feel that they were assuming the greater disability.
The liberal policy of President Fillmore toward Spain and Cuba, and the
harsh course of the military commandant over the latter arc then exempli­
fied, and the significant suggestion is thrown out, that the influence of France
and England would be best employed about Cuba, in inducing Spain to liber­
alize the administration of the government of Cuba, so as to remedy the
evils which have done much to increase the spirit of unlawful enterprise
against that island. But the proposed convention would fail, if made, as it
would be “ sure to be swept away by the irresistible tide of affairs in a new
country.” The project rests upon principles, applicable, if at all, to Europe,
where international relations are of great antiquity and slowly modified, and
not applicable to America, which but lately a waste, is filling up with intense
rapidity and adjusting its territorial relations on natural principles. This
idea the Secretary illustrates by a comparative history of Europe and Amer­
ica for the century between 1752 and 1852, in the course of which he jus­
tifies all the acquisitions hitherto made by the United States, and points out
the beneficial effects flowing from these acqusitions:—
The consequences are before the world. Vast provinces which had languished
for three centuries under the leaden sway of a stationary system, are coming
under the influences of an active civilization. Freedom of Speech, and the Press,
the Trial by Jury, Religious Equality, and Representative Government, have been
carried by the Constitution of the United States into extensive regions in which
they were unknown before. By the settlement of California, the great circuit of
intelligence round the globe is completed. The discovery of the gold of that
region, leading as it did to the same discovery in Australia, has touched the
nerves of industry throughout the world. Every addition to the territory of the
American Union has given homes to European want, from every part of the
United Kingdom, from France, from Switzerland, and Germany, and from the extremest North of Europe, the march of emigration has been taken up, such as the
world has never seen before. Into the United States, grown to their present
grandeur in the manner described, but little less than half a million of the popu­




Cuba.

163

lation of the old world is annually pouring, to be immediately incorporated into
an industrious and prosperous community, in the bosom of which they find po­
litical and religious liberty, social position, employment, and bread. It is a fact
which would defy belief, were it not the result of official inquiry, that the emi­
grants to the United States, from Ireland alone, besides having subsisted them­
selves, have sent back to their kindred for the last three years, nearly five millions
of dollars annually) thus doubling in three years the purchase money of Louisiana.
Such is the territorial development of the United States in the past century. Is
•it possible that Europe can contemplate it with an unfriendly or jealous care?
What would have been her condition in these trying times but for the outlet we
have furnished for her starving millions ?
W hile we will leave Spain in undisturbed possession of the little remnant
of her mighty trans-Atlantic empire, the Secretary asks if her possession can
be expected to last very long.— “ Can it resist this mighty current in the
fortunes of the world ? Is it desirable that it should do so ?” H e argues
th at it would be far more to the benefit of Spain to peacefully transfer Cuba
to the United States than to retain it under “ the best contrived system of
colonial taxation.”
But whatever may be thought of these last suggestions, it would seem impos­
sible for any one who reflects upon the events glanced at in this note to mistake
the laws of American growth and progress, or think it can be ultimately arrested
by a convention like that proposed. In the judgment of the President it would
be as easy to throw a dam from Cape Florida to Cuba, in the hope of stopping
the flow of the Gulf Stream, as to attempt by a compact like this to fix the for­
tune of Cuba now and for hereafter—or, as expressed in the French text of the
convention, for the present as for the future: Pour les present cov.mil pour la
renir'’—that is, for all coming time. The history of the past—of the recent past
—affords no assurance that twenty years hence France or England will even
wish that Spain should retain Cuba—and a century hence—judging of what will
be from what has been—the pages which record this proposition will, like the
record of the family compact between France and Spain, have no interest but for
the antiquary.
Finally, in answer to one reason advanced by M. de' Turgot and Lord
Malmsbury for entering into such a compact, namely, the late bucaneering
attacks from the United States, Mr. Everett says:—
The President is convinced that the conclusion of such treaty, instead of put­
ting a stop to these lawless proceedings, would give a new and powerful impulse
to them. It would strike a death-blow to the conservative policy hitherto pur­
sued in this country towards Cuba. No Administration of this Government,
however strong in the public confidence in other respects, could stand a day
under the odium of having stipulated with the great powers of Europe, that in no
future time, under no change of circumstances, by no amicable arrangement with
Spain, by no act of lawful war, should that calamity unfortunately occur, by no
consent of the inhabitants of the island, should they, like the possessions of
Spain on the American continent, succeed in rendering themselves independent
—in fine, by no overruling necessity of self-preservation, should the United
States ever make the acquisition of Cuba.
Mr. Everett, in this letter, has most happily explained the true policy and
situation of the United States, and we doubt not, his sentiments will bo
readily sanctioned by the great body of the American people, of all parties.
W e have only one or two remarks to add here—-and these, we believ^
are eminently suggestive of moderation to the liones^advocates of Cuban
annexation. W e are disposed to believe, with Mr. Everett, that territorially
and commercially, the acquisition of Cuba would be very beneficial to the




The Caloric S kip Ericsson.

164

United States—but let us observe in the discussion, first, the difference,
which the hot-headed annexationists forget, between our interest and our
right in regard to Cuba. T hat island is in no sense ours because of her
situation ; the claim that whatever we deem important upon our boundaries,
belongs rightfully to us, or is to be acquired in defiance of the rights and
interests of others, needs no other refutation than simply to trace it to its
result—an assertion of universal proprietorship. In the second place let us
remember that the matter is environed with difficulties and dangers, and
those most formidable—deeply affecting both our foreign relations and our
internal affairs— perhaps our very existence as a nation. Finally, regarding
the argument of interest, by itself, let us strip it of all the fictitious color­
ings attached to it. The plea of an interest amounting to a necessity is
false. After all, we have ground for but a very moderate interest in
Cuba. W e can be safe and great without Cuba. Our Gulf and Missis­
sippi trade is likely, under the ability of self-protection we have now
attained, to have just as free passage, inwardly and outwardly, if we do
not acquire Cuba, as if we do—and might not be greatly disturbed,
even were England its proprietor. W ith fortifications at Key W est and
other points on the Florida shore, and a fleet, if need be, in the chan­
nel, our merchant vessels would be tolerably secure of a way, at all times
— quite as much so probably, as if we owned Cuba. B ut if we could
claim Cuba on this ground of commercial necessity, ought we not to assent
to the propriety of the supposed design of Russia on the Dardanelles ?
Ought she not, too, to possess the island of Zealand, at the mouth of the Bal­
tic? Should not England also seize the northern coast of France, in order
to secure the passage of the English Channel ? Has not France an equal
right to the south coast of England ? And, finally, as to Cuba itself, would
not the claim of Mexico be just as good as our own ? All these things are
so obvious, and so sure of public recognition, that we can safely assure the
agitated journalists of London, that unless the imprudence of European
policy in this matter, should force an issue, there is not much reason to fear
presently any great excitement of the American mind relative to Cuba.

Art. II.— THE CALORIC SniP ERICSSON.
W e gave in the leading article of the Merchants' Magazine for July, 1852,
a description of Ericsson's Caloric Engine, and a brief account of the splen­
did ship then building for the purpose of presenting this new motive power
practically before the world. That ship is now complete. She bears the
name of the distinguished inventor of her engines. These are also finished,
and repose within the finely moulded, strong-ribbed hull, they are destined
to propel.
A new mechanical agent has been created to toil for our race,
upon the land and upon the s e a ; it has taken its place upon the ocean.
Upon that element it has already demonstrated its superiority over steam as
a propelling power.
By referring to the article we have mentioned it will be seen, that we
then entertained no Noubt as to the entire practicability and success of this
invention. W e carefully investigated its nature and its principle. To ac­
complish this we devoted considerable time. It was extraordinary and there­




The Caloric Ship Ericsson.

165

fore calculated to awaken doubt and distrust, as to its efficiency when prac­
tically applied. It promised to accomplish grand results. It offered to Com­
merce and mankind the greatest advantages ever secured by the exercise of
human genius.
As a faithful chronicler of commercial annals, it became our duty fairly
to estimate and pronounce upon the practicability of this invention. As a
public journalist we felt, bound in subjecting it to examination and to public
criticism, to do no injustice to its author and to create no fallacious hopes in
the public mind. Every facility for acquiring the knowledge necessary to
form a reliable opinion was afforded to us by Captain Ericsson. H e feared
praise more than condemnation, and was more anxious to subdue admira­
tion of this work of his life, than to excite it. H e told us how, step by
step, through more than nineteen years of unencouraged toil, he had re­
duced to practice, the idea conceived in his early manhood; and as he nar­
rated practical difficulties encountered, and one by one, in slow succession
overcome, we wondered less at the great result he had attained, than at the
steady, unfaltering perseverance, by which it had been achieved.
There was no exultation, no excitement, as he explained to us how, by
the application of science and surpassing mechanical knowledge, there had
slowly, though finally, grown into perfection the engine we examined. It
had ripened before him so gradually, and almost imperceptibly, under such
anxious labor, that in his mind, its completion excited no astonishment and
no delight, but only that calm satisfaction which all usually feel when a great
result has been accomplished. W ith the aid of his explanations we exam­
ined his invention, as embodied in the two machines, which for a consider­
able period had been in successful practical operation. From the force they
actually exerted, combined with a knowledge of the means by which that
force was produced, we drew the conclusion that engines could be construc­
ted upon the same plan, capable of affording any desired power, and that
they could be applied to all the various purposes for which steam was em­
ployed. 'This opinion we recorded at a period when the great mass of man­
kind were, no doubt, inclined to question its soundness. W e supported it
by an ample description of the invention, which in theory was so complete,
that hitherto, no scientific or other journal, which has come under our notice,
has ventured to assail it as impracticable. It is now too late to attem pt this.
The Caloric Engine has been tried upon the magnificent scale mentioned
in our previous number, and which we then predicted would so present it
to the public, that a second trial would not be required to warrant its uni­
versal adoption. This prediction has been fully verified. The beginning of
the year 1853 records the practical development of a New Motive Power,
destined to be of greater value than any invention ever before devised by the
intellect of man. It is presented in a ship of more than two thousand two
hundred tons burden. The waves of ocean never rocked a finer model nor
one of greater strength. It is worthy to receive the machinery upon whose
propelling power it relies.
On the fourth of January, 1853, the Caloric Ship Ericsson made her first
trial trip down the Bay of New Y ork; an event which the annals of Com­
merce will hold in perpetual remembrance. The morning of that day was
dark and storm threatening. Clouds obscured the sky, and, driven by strong
winds, rolled along the heavens. The Ericsson lay moored to her dock
at Williamsburg, in the East River, opposite the city of New York. I t had
been determined to start at eight o’clock; before that hour the few persons




166

The Caloric Ship Ericsson.

who were to bo the first ever propelled upon the waters of the sea, by a
motive power other than steam, were upon her decks.
The experienced pilot to whose charge she was to be committed, and the
one usually employed to take ocean steamers upon their experimental trips,
declared that no steamship had ever made its first trial trip out of the Port
of New York in such severe w eather; and added, that if the purpose of
selecting such a day for the trip of the Ericsson, was to test the efficiency of
well tried and powerful machinery, a more appropriate one could not have
been found. N ot an apprehension concerning the effectiveness of his novel
engines, disturbed the mind of Captain Ericsson, and those around him never
for a moment doubted their capacity, to propel against wind and wave, and
heavy sea, the noble ship upon whose deck they stood. Between nine and
ten o’clock the strong hawsers which held her were unloosed, and she floated
in unfettered majesty upon the sea. Then her engines began to work, and
her wheels to turn. Slowly that great ship, the first ever propelled by such
machinery, began to move. Soon she acquired renewed speed, and cleaving
a path through the waters, traveled towards the ocean. H er appearance,
as she passed down the East River and into the bay, was grand. She moved
at the rate usual for ocean steamers of her class. Ile r strangeness consisted
in the absence of that smoke which ascends from the chimneys of those ves­
sels. From her deck no such chimney towered. Four small white columns,
harmoniously arranged and top-wreathed with a broad line of gold, ascend­
ed a few feet above her upper deck ; from neither of which did any smoke
perceptible to the eye issue. Gracefully she moved onward, gathering speed
as she passed by wharves and piers, peopled with those who gathered there
as men had gathered when Fulton, in his first steamer, passed before them.
Many had assembled to witness the utter failure of the Ericsson, as all had
gathered to observe and laugh at, the predicted failure of Fulton, nearly
half a century before. B ut the Ericsson moved on, and dashing the spray
from her bows, stood straight for the sea.
She made the distance from Fort William, on Governor’s Island, to Fort
Diamond, at the Narrows— IJ- miles by the channel which she took— in
thirty-four minutes and thirty seconds, thus realizing a speed of about four­
teen miles an hour.
Passing through the Narrows, she entered the waters of the lower bay,
and proceeded towards Sandy Hook. Then the storm which the morning
had threatened appeared. The wind increased to a gale. Soon the first
snow storm which has visited the Bay of New York this winter com­
menced.
The sky darkened, the weather thickened rapidly, and shut the surround­
ing land from view, and within a very short time those on board could not
see a distance of more than three lengths of the ship.
The pilot considered it unsafe to venture back, and the Ericsson remained
there at anchor until the following morning, when she returned to the city,
making, without effort, a fair speed against a strong wind and tide.
In a commercial point of view, the importance of this new motive power
cannot be estimated. The owners of the Ericsson did not expect to secure
great speed by the engines for which they contracted, nor did the inventor
promise it. He did not care to attain that object, nor did they desire it.
All they wished was to obtain such a degree of speed as would make the
Ericsson, with her new motive power, the most valuable ship for commercial
purposes upon the ocean, and this they have accomplished. W h a t the in ­




The Calorie Ship Ericsson,

167

ventor desired was the practical introduction of his discovery upon so broad
a scale, that the world at large should appreciate its overwhelming advan­
tages ; and this end he has secured. His work is done, and hereafter the
artisan, in constructing the Caloric Engine, need only increase the area of
its cylinders, to attain any power which steam has hitherto produced. W e
have said that neither the owners nor the inventor expected speed in the
Ericsson. H ad they desired it, however, they could hardly have been dis­
appointed. Upon her first trip, made under many disadvantages, her speed
was greater than the average attained by the ocean steamers of the world.
This is far beyond what her owners were permitted to hope. They were
promised by Captain Ericsson engines unparalleled in point of economy,
perfectly safe, but of very moderate power. This pledge he has redeemed.
He was strongly inclined before constructing the machinery, to employ cyl­
inders of sixteen instead of fourteen feet in diameter, and thus to have at­
tained all that was desirable in point of speed. H e was deterred from ex­
ecuting this plan, however, by the strong impression which prevailed among
practical men that it would be impossible to cast cylinders of so large a
size.
It was then said that attempts to cast those of but twelve feet in diame­
ter had been made and had fai'ed ; and prejudices were strong in the minds
of engineetsand others, that this invention could not be carried out upon a
large scale, because of the immense cylinders required. These views, as
the result has proved, were entirely erroneous. They were by Captain
Ericsson so regarded. H e resolved, however, that while cylinders of the
requisite area should be cast, to demonstrate the practicability of his inven­
tion when developed upon a scale of great magnitude and power, the size
of the castings should not be such as to render probable a failure in at­
tempting their fabrication. Guided by these views, cylinders fourteen feet
in diameter were determined upon, beiug in area about three times as large
as those used in the Collins steamers. It was necessary to cast four cylin­
ders of this immense size, and this operation was performed without the
slightest difficulty. These cylinders are pronounced by competent judges
to be the finest ever seen of any considerable m agnitude; and in the pro­
cess of casting them, it was ascertained that they could be made of any
size required. W hat, therefore, was at the first stated to be a practical dif­
ficulty in the way of this invention has been overcome, and we can there­
fore state, with entire confidence, that to its qualities of safety and economy
may be added its capacity to produce power, and consequently speed, to any
extent attainable by steam. To secure that object, no invention is required.
The constructor has but to increase the area of the cylinders, and it is ac­
complished.
W e congratulate the world upon the introduction of this invention. It
appears at the appropriate time. H uman enterprise has stretched its hands
to the remotest quarters of the earth, and the Commerce of mankind finds
its way along the most distant seas. The steamer, with a single cargo of
coals can but attain a distance of about three thousand miles, while the gold
hunter, to reach the mines of Australia and of California, may wish to tra­
verse more than fifteen thousand miles of ocean. Immense cargoes follow
on his track, and center in his distant home, and these must now be trusted
in sailing vessels to the fickleness of winds, or be sent at great expense by
steam, where, by intermediate landings and fresh supplies of coal, that agent
can be used.




168

The Caloric Ship Ericsson.

On the 11th of January, 1853, the Ericsson made a short trip down the
Bay of New York, for the purpose of giving the press of that city an op­
portunity to inspect her machinery, whilst in operation. A few scientific
men, besides members of the press, were invited. The number was not so
great as to prevent a careful examination of the engines by every one pres­
ent. This was done while the Ericsson was proceeding down the b a y ; and
her machinery was subjected to the minutest inspection and criticism. All
were astonished at its simplicity and its grandeur. Its appearance is in
many respects unlike that of the steam-engine. Its huge cylinders show
the energies by which the raging tempest is to be overcome. As the whirl­
wind sweeps onward, a little of its fierce breath is caught and caged, and
forced to propel against that whirlwind the noble ship over whose decks it
sweeps.
On returning to the city of New York, Captain Ericsson gave clear and
lucid explanations of the machinery, illustrating its operations by diagrams,
and in the most satisfactory and convincing manner answered every objec­
tion which has been urged against it.
The small quantity of fuel required to propel this “ breathing ship,”
proudly through the winds and the waves, astonished all on board. Not
more than six tons of anthracite coal can be consumed in twenty-four hours
— not one-eighth the quantity required for working steam-engines of equal
power. B ut one Fireman and one Engineer were on duty during the trip,
and their duties were very light, and by no means responsible or arduous;
their performance did not require the exercise of much care or intelligence.
Greasing the machinery appeared to be the principal employment of the
Engineer, and the feeding of the furnaces demanded but a small portion of
the time of the Fireman.
On anchoring off the Battery a meeting was organized on board, and
resolutions adopted by the representatives of the press of New York and
other places, expressing their entire confidence in the complete success of
the new motor. These resolutions embody, without an exception, that wo
are aware, the views of all who that day witnessed the triumph of the
noblest enterprise of the nineteenth century.
All honor and gratitude to tiie men who have stood by and aided Cap­
tain Ericsson, in the herculean labor of developing his inventions upon the
grand scale in which it appears. Mr. S toughton , whose name appears in
the resolutions below’, is a member of the New York bar, and has for several
years past been employed as council in many of the most important patent
cases in the country. The name of J ohn B. K itch in g , already widely
known as one of the most eminent merchants on the globe, is the architect of
his own fortune— a fortune that he has carved out within the last few years.
B ut time and space admonish us to close our brief record of the “ trial
trip s” of the “ Ericsson.” In a future number of the Merchants' Magazine
we shall present a full and ample description of her engines. W e now re­
cord as m atter of history, the first public expression of confidence in an in­
vention which, in our judgment, will confer upon commercial enterprise and
the industrial arts untold benefits.
•
Resohed, That this meeting of those present upon the trial trip of the Caloric
Ship Ericsson, is no less fully and deeply impressed with the grave impor;ance
of the subject upon which it feels called to express a judgment, than completely
aware of the many advantages to the public, which must arise from the now in­
contestable success of the invention which has to-day been put into practical
operation.




Trade and Commerce of Baltimore in 1852 .

169

Resolved, That upon thorough examination and actual observation, we are en­
tirely convinced that the invention of Captain E ricsson is no longer of questiontionable practicability, but from this day takes rank with the foremost of the
great and useful inventions which the world owes to science and genius, and that
it promises to surpass, in efficiency, any other adjunct to the advancement of
Commerce and the industrial progress of the world.
Resolved, That from its economy, safety, and ready applicability to all purposes
requiring motive power, the Caloric Engine cannot fail to minister largely to the
happiness of mankind.
Resolved, That the peculiar adaptability to sea vessels of the new motor pre­
sented to the world by Captain E ricsson, is now fully established; and that it
is likely to prove in every respect superior to steam for such purposes.
Resolved, That the remarkable economy of fuel necessary for its working, the
absence of all risk from explosion, and the low temperature throughout the ship,
even in the engine and fire rooms, as satisfactorily exhibited on this trip, are
among the most prominent claims of the Caloric Engine to the attention of the
scientific and commercial world.
Resolved, That in his lucid, simple, and comprehensive statement of his theory
and description of his engine, Capt. E ricsson has not only demonstrated the
beautiful completeness and perfect working of the system which he has brought,
by twenty years’ elaboration, to its present commanding position before the world,
but has shown a fertility of resource, and a ready command of his vast scientific
knowledge, which hardly less entitles him to the admiration of all who hear
him.
Resolved, That in the admirable construction of the Ericsson and in the beauty
of her model, and in the perfectly successful production of so novel and remark­
able an engine, Messrs. P errine , P atterson & S tack, her builders, and Messra.
H ogg & D elamater , her machinists, have shown themselves worthy coadjutors
in so noble a project, so important an invention.
Resolved, That E. W. S toughton, Esq., the intimate friend and legal adviser
of the inventor, J ohn B. K itching, Esq., and G. B. L amar, Esq., and others,
the men who have invested their capital and lent their influence to ensure the
success of this great enterprise, are entitled to the enduring gratitude of the en­
tire Social, Commercial, and Industrial world.

Art. III.— TRADE AND COMMERCE OF BALTIMORE IN 1852.
I n accordance with our plan of embodying in the pages of the Merchants'
Magazine, from year to year, a history of the progress of Trade and Com­
merce in the principal commercial cities, we proceed to lay before our readers
the annual review or statement furnished to our hands by the Editors of
the Baltimore Price Current.*
A review of the business operations of our city for the year elapsed, although
it may not afford any very striking feature with regard to actual increase, will
show a regular and healthy condition of things, with an abundant money market,
and an absence of speculation generally; and there is to be observed every ele­
ment of future growth and prosperity, with the promise that so soon as our
carrying facilities are perfected, an extent of inland as well as foreign trade, equal
to the desires of the most zealously ambitious, must be realized. With regard
• For a similar statement for the year ending December 31st, 1851, see Merchants' Magazine for
February 1852, ^vol. xxvi., pages 172-183.)




170

Trade and Commerce o f Baltimore in 1852 .

to the progress made toward enlarging and facilitating our trading operations, it
is a source of unfeigned pleasure to know that within the past twelve months a
number of most important objects, which only require time to carry out and de­
velop with entire success, have been commenced under very auspicious circum­
stances. In the train of these we think we can see many other objects of nearly
equal moment as affecting the future of our city, taken up and as ably and
energetically managed. Since we last presented an annual statement of our
trade and commerce, appropriations have been made by Congress and by our
City Council for the improvement of our harbor and ship canal. This is an all
desirable object, for which our Board of Trade had been assiduously laboring,
and we are in hopes that the general Government will follow up its acknowledg­
ment of the propriety of our position by a further appropriation, and one more
commensurate with the character of the object. In the meantime, it is hoped
our State Legislature will imitate the example of our City Council by making
an appropriation toward improving the Patapsco beyond the city limits.
Our steam connection with the South may now bo looked upon as completely
established—the Palmetto, sailing to Charleston, is to have a consort of 1,300
tons, the largest steamer ever built at Baltimore—she is building at the yard of
Mr. Robb, and her construction has already reached an advanced stage. Earnest
appeals are being made daily to our merchants, and the merchants of Savannah,
to establish a line of steamers between Baltimore and that port, and of late the
subject has come so palpably before them that we cannot but indulge the hope
that we may in a few months put afloat two more steamers to follow in the wake
of our pioneer line to the South.
Much lias been said within the year upon the subject of direct trade with Eu­
rope. However zealous we may be in our efforts to place Baltimore upon such
a footing as will render it unnecessary for Southern merchants to go to the North
for their purchases, the truth connot be disguised that our water facilities are
such as to preclude the possibility of establishing Baltimore as the importing
point for the present. What we want most now is aid in perfecting our water
facilities so that vessels of even present average tonnage may arrive and depart
ad libitum. Let us renew and redouble our efforts for the improvement of our
harbor and river—when we are ready, the South will take us by the hand.
The Baltimore and Ohio Railroad is completed to Wheeling! Who but the
citizens of Baltimore can fully apprehend the import of those words? Though it
be not our vocation to indulge in panegyric, on this occasion at least, an excuse
must be permitted us if we soar somewhat with the bright wings which hope has
lent us in the contemplation of that great event. We have reached the threshold
and the stepping-stone of our true commercial destiny, and there is nothing now
can turn us back. The wide and far W est has opened her ample arms to receive
us and bids us God-speed in our efforts to secure the prize which nature has so
long and patiently held out to us. Who will say that the prize is not already
ours? The hope deferred through a protracted series of years is finally resolved
into a complete reality, and the most sanguine calculations of those by whom it
was first entertained are on the eve of being entirely verified.
C oal — Cumberland. This article is rapidly becoming one of the leading fea­
tures of our trade, having established itself in favor wherever its qualities have
been tested. The increased use of steam power, particularly on the ocean,
and the growing preference for cheap bituminous coal for domestic purposes,
have caused an extraordinary demand for Cumberland, and our routes of trans­
portation have been taxed to their utmost within the past year in order to meet
the wants of the different companies working mines in the Alleghany region.
The trade in the early part of the year opened under some disadvantages, owing
to the failure of the largest company then in operation, the late Maryland Mining
Company, and continued depressed until May, when it revived, and has contin­
ued since then with great activity. The demand for transportation by the Rail­
road Company has exceeded its ability to provide ears, and at this time, the
amount to this market for shipment and consumption is at the rate of about
300,000 tons per annum, although the business of the company’s year ending 1st




Trade, and Commerce o f Baltimore in 1852 .

171

October, 1852, did not exceed 206,000 tons. The Railroad Company having made
preliminary arrangements for the accommodation of the coal trade, the exceeding­
ly active demand now prevailing warrants us in the belief that the receipts of
1853 will reach not less than 500,000 tons.
R E C E IP T S O F COAL AT B A L T IM O R E F O R T H E PA ST E IG H T Y EA RS, TO T H E

1845
...tons
1846 ...................
1847 ...................
1848 ...................

16,000
18,393
50.259
60,289

90,000
100,000
110,000
125,000

IsT

O F JANU ARY .

Cumberland. Anthrac’e.

Cumberland. Antbrac'e.

...tons
1849
1850 ....................
1851 ...................
1852 ....................

71,699
146,645
163,855
256,000

140,000
160,000
200,000
125,000

C o f f e e —Rio. This article has experienced fewer fluctuations in price during
1852 than we had occasion to note in former years, and though the importer has
not realized much profit the trade generally has been more healthy. The falling
off in the importations from Brazil, compared with those of last year, is attrib­
uted to the shortness of the crop and the consequent high prices which prevailed
at Rio Janeiro throughout the year. On the 1st of January, 1852 the stock in
this market was 38,000 bags; the imports since that date, as shown below,
amount to 253,689 bags, being less, by 51,504 bags, than those of 1851. Stock
on hand Jan. 1st, 1853, 32,500 bags. The quotations, as they appear in our
weekly reports, condensed below,have ruled very steady, the range for the whole
year being from 8J to 9 | cents. During the greater part of January last the
market was dull, at 8£ a 8£ cts., but at the close of the month, under favorable
advices from Brazil, an advance of half a cent was realized. The market opened
in February at 8 | a 9± cents—about the middle of the month an improvement of
a J- cent took place, with large sales, and the month closed with holders firm.
March opened dull, though prices were sustained, and the same feeling continued
until the last of the month. In April a decline was experienced, the sales ranging
from 9 to 9} cents; an improvement, however, was realized about the middle of
the month, and prices ruled quite steady at 9£ a 9J cents, until the close. Early
in May the market was quite active; the sales were large, but at a slight con­
cession in prices, which state of things prevailed throughout the rest of the
month. In June the market ruled quite steady at from 8 i to 9|, and for average
cargo 9j cents. July presented no change. In August the importations were
heavy, and the market became depressed and prices receded slightly with large
sales at prices ranging from 8f to 9£ cents, the market closing for the month
with large sales. The same feeling and prices prevailed throughout September.
October opened dull, and prices continued to rule low, being at 84 a 9 cents, until
the close of November, when a decided improvement was realized. December
opened with holders firm at 9 | cents, and prices further improved toward the
middle of the month, since when the market, though not active, has ruled steady
at 9i to 9J cents.
IM P O R T S OF C O F F E E AT T H IS P O R T F O R T H E LAST T H R E E Y EA R S .

1852.
From
From
From
From
From
From

Rio Janeiro................................
L aguayra....................................
Porto C abello............................ .................|
M aracaibo..................................
W est Indies...............................
coastwise................................... ..
T otal........................................... ...................

16,241

253,692

1851.

1850.

266,240

150,194

21,081

24,040

5,873
8,114
3,885

2,754
6,532
3,934

305,103

187,454

C otton . The course of the trade in this article for the past year has not ex­
hibited any feature worthy of particular note. Thus far our receipts have been
only to meet the immediate requirements of our local manufacturers leaving no­
thing to be exported hence. According to all accounts with reference to the
new crop, it will be still larger than that of last year. Sales were made the first
week in January at 8£ a 9|- cents for Virginia and Gulf, which prices continued




172

Trade and Commerce o f Baltimore in 1852 .

to prevail, with but slight fluctuation, until the beginning of April, when stocks
having increased on the hands of manufacturers, the market tended downward,
sales being made at 7} a 9 cents, cash and time, for Virginia, Georgia, and Gulf,
but in the latter part of the month a reaction took place, and prices continued to
advance until they reached 9 to 11 cents, cash and time, for Virginia, Georgia,
and Gulf. These quotations were continued until early in June, when, after
some slight fluctuations, the market gradually improved up to the 20th of August,
previous to which sales were made as high as 10 a 12} cents; here a slight de­
cline took place, at which the market ruled till near the close of October, when a
further decline was experienced, which prevailed for some weeks, the quotations
early in December being 9 a 11 cents, cash and time, for Virginia, Georgia, and
Gulf. At the close of the year the market was steady at 9 a 10} cents.
The receipts of Cotton at this port for the last three years have been as fol­
lows, as near as can be ascertained:—

1851.

1850.

3,070
2,737
677
2,950
12,500
2,000
5,500

4,015
1,371
1,883
2,500
10,000
1,500
4,500

29,434

25,769

1852.
From
From
From
From
From
From
From

New Orleans...................................... .
Mobile....................................................
Apalachicola........................................
Savannah............................................ .
Charleston............................................
North Carolina....................................
Virginia and other places.................

2,000

T otal................................................. .

33,594

F ish .—Mackerel.

The stock of Mackerel on hand in this market on the 1st
of January, 1852, amounted to about 5,000 barrels. Inspections for the past
year, 22,337 barrels, a decrease compared with those of 1851, of 10,537 barrels,
leaving a stock of 3,200 barrels on hand on the 1st instant. This deficiency of
the receipts is owing in part, according to the Boston Price-Current, to the im­
pediments thrown in the way of our fishermen by the British authorities. Prices
have ruled unusually high in consequence of the limited supply, and an active
demand for home consumption. Annexed will be found the quotations in the
different months as reported from week to week in this paper:—M ACKEREL— LARGE.

January 1 7 ................. .___
February 14.................
March 1 3 ..................... ___
April 17.......................
May 15.........................
June 19 ........................___
Ju ly 1 7 .........................
___
September 1 8 .............
October 16....................
November 1 3 ...............
December 18...............

No.
$9 00 a
00 a
9 50 a
9 50 a
50 a
11 00 a
50 a
11 00
11 00 a
12 50 a
13 50 a
12 60 a

1.
$9
9
9
10

50
50
75
00

11
11
11
13
14
14

50
50
50
00
00
00

$8
8
8
8
10
10
9

No. 2.
00 a $8 50
00 a 8 50
25 a 9 00
50 a 9 00
50 a
.. .
00 a . ,.. .
75 a 10 00

8
10
10
9

75
50
50
75

a
a
a
a

10
11
11
11

00
00
00
00

85
5
5
6
7
6
6
7
7
7
7
7

No.:3.
62 a $5 75
50 a 6 00
75 a 6 00
37 a 6 50
00 a ....
00 a 6 50
62 a 6 75
00
7 25
25 a 7 50
25 a 7 50
50 a 8 00
50 a 8 00

Shad. The inspections of Shad the past year show an increase over those of
1851 of 1,462 barrels. The first receipts appeared early in April and sold at $9 50
a 9 75 per barrel, and the receipts subsequently not equaling the demand, prices
advanced to $10 50 a 11 00 per barrel, about the middle of May, and continued
to range at those figures until near the close of the season, when a slight decline,
as usual, was submitted to by some in order to close out their stocks.
Herrings. There has been an increase in the receipts of this article the past
year, compared with 1851, of 6,000 barrels. The market opened for North Caro­
lina and Susquehanna at $5 50 a 6 00, but soon declined to $4 75 a 5 00, at
which it continued to rule until the close.
F lour. Our inspection returns at foot, show a very large increase in both
Howard-street and City Mills, compared with those of last year, and should the




Trade and Commerce o f Baltimore in 1852 .

173

crop of wheat again prove abundant, the receipts of 1853 will show a much
greater increase. The range of the market for Howard-street we have con­
densed from the weekly reports as published in the Price-Current.
Howard-street. The market opened in January with sales at S i 00—stock
light; on the 17th the article advanced to $4 06J, and on the 23d to $4 37 ;
the month closing with sales at $ 4 18f. Upon the opening of navigation early
in February, a more lively demand sprung up, though prices varied but little,
with sales at $4 181 a 4 12|, but about the middle of the month, in conse­
quence of favorable foreign advices, the market went up to $4 371 a 4 50; to­
ward the close of the month, however, it settled down to $4 25, and by the 5th
of March it had again receded to 84 00; but before the close of the next week,
under the effect of advices from Europe and light receipts, prices improved, with
sales at $ 4 25, but-again declined near the end of March to $4 061, and on the
7th of April to $ 4 00. Here the market remained steady until the beginning of
May, when an advance was realized, the market closing on the 7th at $4 371 a
$4 431; °n the 15th it had again receded to $4 121, which price prevailed unt;
early in June, when sales were made at $4 25; in a few days there was another
decline, sales at $4 121 a 4 18 f; at which quotation the market continued until
the close of July, when it declined to $4 00 for old, and $4 061 a 4 121 for
fresh ground. These prices continued, with little variation, until the 22d of Au­
gust, when on account of foreign intelligence an advance of 371 a 50 cents per
barrel was realized, market closing on the 27th at $4 50 ; on the 3d of Septem­
ber it again declined to $4 25 a 4 18f, which continued to be the current prices
until the 9th October, when sales were made at $4 311; on the 16th at $4 371;
29th at $4 561 a 4 621; 12th November at $4 871; 20th at $5 121 a 5 25;
December 3d prices declined to $5 00 a 4 931, but rallied on the 18th, with
sales at $5 25 a 5 371, and at the close of the month declined again to $5 121,
at which the market was steady with a good demand.
City Mills. The receipts of this description the past year show an increase
over those of the year 1851 amounting to 161,141 barrels. The range of prices
has been very much the same as for Howard-street.
Rye Flour. Has been in good request, and has commanded full prices during
the year.
Corn Meal. The quantity ground the past year shows a very material increase
compared with last year, being upwards of 23,000 barrels. Prices generally have
ruled high.
F L 0U I1 IN S P E C T IO N S .

Howard-street
City Mills........
Susquehanna .
Ohio.................
F a m ily ...........
Rye..................
Corn m eal___

1849.

1850.

1851.

1852.

474,619
245,753
16,272

549,233
295,236
17,057

533,549
324,158
23,399

27,874

35,171
6,480
45,360

34,494
7,578
33,145

729,532
486,096
51,317
6,291
33,929
6,450
57,138

8,011

54,837

The year just closed has been a very favorable one for the interest of
the agriculturists of the section of the country from which Baltimore draws sup­
plies. The prices generally have been remunerative. Propitious seasons and
extensive applications of lime, guano, and other renovators and fertilizers, to the
soil, have caused a large increase in the production, and we hope, with a continu­
ation and increase of the spirit of improvement on the part of the farmers, to­
gether with the extension and completion of our railroads, to be able to report
hereafter still larger supplies. W e are now enabled to present inducements to
seller and buyer, superior to most other markets, in quantity, quality, and variety
of demand, thus maintaining at all times a wholesome state of trade.
Wheat. In January the market opened with limited receipts at 87 to 90 cents
and 95 to 100 cents l'or red and white. In March, supplies increasing with an
improved demand, continued to advance, with occasional temporary depression,
G rain .




Trade and Commerce o f Baltimore in 1852 .

174

when in May 103c. was obtained for red, and 112c. for white. In July parcels of
the new crop appeared at market, and gave promise of superior quality, the sea­
son throughout having been favorable for its proper maturing, and the quantity
was rightly estimated to be large; but immediately after harvest,and while much
of the crop yet remained upon the fields, a continued spell of wet weather en­
sued, which seriously injured a considerable portion of the wheat of Maryland
and Virginia, which upon arrival at market proved sprouted, tough, and unfit for
shipment or immediate grinding; large orders remained unexecuted owing to the
unsuitableness of the article for long voyages. The new crop started at 90 to
95c. for red, and 100c. for white for dry parcels, while the range of tough and
sprouted was from 65 to 85c. Prices ran up in August to 104c. for red, and
115c. for white, but fell back in September. Late in December 115 to 118c. was
realized for piime red, 120 to 125c. for white, the highest figures reached during
the year. The receipts are estimated to have been as follows:—
By the Baltimore and Ohio R a ilro a d ................................................... bush.
“
“
Susquehanna R ailroad...............................................
“
Philadelphia, 'Wilmington, and Baltimore Railroad................ >..
“
Tide-W ater Canal, wagons, die............................................................
“
Water-borne from Maryland, Virginia, and North Carolina.........

400.000
2,81E>,150

T otal................................................................................................

8,451,150

140.000
84.000
12.000

Which has been disposed of as follows:—
To city m illers.....................................................................................................
Shipment coastwise............................................................................................
“
to E urope............................................................................................
“
to W est Indies and British North American Colonies...............
Stock in millers’ and other hands, December 31,1852................................

2,050,600
750,000
227,900
59,150
363,500

T otal.............................................................. ..........................................

3,451,150

The stock held by Millers December 31, 1851, was estimated at 215,000 bush­
els, which has been ground in addition.
Corn. With light supplies in January and February, the market opened at 58
to 62 cents; in March and April, receipts increasing, prices receded and ruled
from 52 to 58 cents, after which they improved, with a firm market and steady
advance, until in September, 60 to 64 cents was paid; in October, old corn be­
coming scarce and demand active, the figures were run up to 67 cents for white,
and 73 for yellow; in November to 73 to 76 cents for white, and 76 to 78 cents
for yellow, when the supply of old was exhausted. New corn was received Octo­
ber 4th, and sold at 58 to 60 cents, but receipts were limited until about the
middle of November, when they increased largely, and cargoes suitable for ship­
ment wore in active request at 63 to 66 cents; in December the supply was
heavy, and prices ranged from 55 to 62 cents for white, and 59 to 64 for yellow.
We would here remark, a large supply of coasting vessels contributed to relieve
the market and prevent any depression of prices. The prevalence of wet wea­
ther this fall and winter caused a portion of the receipts to have been in a very
damp condition, and much of it was damaged; such was sold at from 45 to 55
cents. Shippers say they have rarely experienced as much difficulty in selecting
suitable corn for shipment—the receipts are estimated as follows:—
By the Baltimore and Ohio R a ilro a d ................................................... bush.
“
“
Susquehanna Railroad...............................................
“
Philadelphia, WilmingtoD, and Baltimore R ailro ad .....................
“
Tide-Water Canals, wagons, Ac..........................................................
“
Water-borne, from Maryland, Delaware, and V irginia.................
TotaL




53,000
128,800
13,800
260,000
3,290,300
3,745,900

Trade and Commerce o f Baltimore in 1852 .
Which has been taken as follows:—
Shipments coastwise...............................................................................
“
to Europe................................................................................
“
to West Indies........................................................................
“
to K. D., corn meal.................................................................
Distillers.................................................................................................
Oily consumption.....................................................................................

175
2,200,000
99,900
121,000
225,000
500,000
600,000

Total............................................................................................
3,745,900
Oats. In January the market opened at 35 to 37 cents, and by the last of
March declined to 31 to 33 cents; in April prices improved, and advanced until
40 to 43 cents was realized in July, when new oats were received and brought
28 to 31 cents; as the condition improved prices went up, and in November
sales were effected at 44 cents, but declined again in December to 36 to 40 cents.
The crop in this section has proved a very large one, and has been met by an
active demand. The receipts are estimated to have been about 800,000 bushels,
of which shippers have taken 225,000 bushels; the balance has gone into home
consumption.
Rye. Prices ruled in the spring from 72 to 78 cents. The new crop opened
at 70, but with a good demand soon advanced, and for some time has been steady
at 80 to 90 cents, the latter Pennsylvania. The receipts, mostly from home
sources, are about 165,000 bushels; 140,000 bushels have been taken by dis­
tillers.
Black-Eyed Peas. The receipts of this article have fallen off, and are not over
10,000 bushels, all of which are shipped to the W est Indies. The price of the
old crop from 76 to 87 cents; the new crop from 105 to 120 cents.
Beans. Receipts about 5,000 bushels. The price of prime parcels has ruled
from 150 to 175 cents.
The following are the comparative receipts of grain for three years:—

1850.

1851.

1858.

Wheat.........................................I ..
Corn.................................................
Oats.................................................
Rye..................................................
Peas................................................
lleans..............................................

2,300,000
3,250,000
600,000
140,000
30,000
5,000

2,600,000
2,650,000
450,000
150,000
15,000
3,000

3,451,150
3,745,900
800,000
165,000
10,000
5,000

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

6,325,000

5,868,000

8,177,050

Guano.—The imports of Peruvian at Baltimore the past year do not much ex­

ceed those of 1851, amounting to about 25,500 tons. This is accounted for by
the fact that the agents of the Peruvian government have imported a considerable
quantity into Norfolk and Alexandria for the first time. The demand was active
the past season, and prices ruled high from dealers on account of the scarcity of
the article. The importers’ prices remained unchanged at $46 20 per ton during
the year.
W e embrace this opportunity of correcting a recent statement in the Boston
Journal, in which the total imports of Guano into all the United States in 1851
are put down at 23,153 tons. The imports of Peruvian Guano at Baltimore
alone amounted to 25,000 tons, and we are quite certain that at least 10,000 tons
were imported into other ports in that year, which would make the total 12,000
tons more than is stated by the Journal. The total imports of Peruvian Guano
into all the United States during the year 1852, were 79 cargoes, with 41,088
tons, (2,240 lbs.)
IM P O R T S O F P E R U V IA N GUANO A T B A L T IM O R E F O R LA ST F O U R Y EA R S .

1849 ..................................tons
2,700 I 1851..................................tons
25,000
1850 .......................................
6,800 | 1852.......................................
25,500
We would notice in this connection, the introduction of a new fertilizer, one




Trade and Commerce of Baltimore in 1852 .

1?6

which is beginning to attract the attention of farmers and scientific men, viz.,
Mineral Phosphate of Lime, of which we have already reported the arrival of two
cargoes at Baltimore. This article is obtained from mines in the States of New
York and New Jersey, and in the latter State a company has been incorporated
by the Legislature for its manufacture. The mineral is simply run through a
pulverizer, and is then ready for use by the agriculturist. The following is the
analysis of this new fertilizer; phosphate of lime 92, fluate of lime 7, muriate and
carbonate of lime 1. The price according to this analysis is $30 per ton, deliv­
erable at Baltimore. Evan T. Ellicott, Esq., is the agent for this city.
H ides . The stock remaining in importers’hands at the close of 1851, amount­
ed to 51,800. During the past year the foreign importations have been very
small, showing a falling off compared with the previous year, of 79,817, and in
consequence of the light supplies, the, market has been kept almost bare during
the whole year. From January till near the close of February, the market re­
mained very dull; about that period, however, a reaction took place, and prices
advanced for all descriptions, and continued gradually but steadily to improve,
until prices of Rio Grande and La Plata reached 17 to 17f cents, (which was in
the month of August,) and the Porto Cabelloand Laguayra 13 to 14 cents; since
then the market declined to 15| a 16 cents for Rio Grande and La Plata, at which
prices continued to rule up to the close of the year. There was no stock in im­
porters’ hands on 1st inst.
From
From
From
From
From
From
From

IM P O R T S F O R T E A R 1852.
River P la te ................................................................
Rio G rande............................................................ .
Rio Ja n e iro ................................................................
Porto Cabello.............................................................
W est Indies and other foreign p a r ts ...................
California....................................................................
coastwise ports..........................................................

$34,078
14,674
8,570
28,188
10,471
27,342
50,064

Total, 1852..............................................................
“ 1851..............................................................
“ 1850..............................................................
“ 1S49..............................................................

173,987
253,794
263,095
235,742

I ron. This article, which for some years past, has been productive of b u t
little remuneration to manufacturers or dealers, has undergone a considerable
change for the better during the year just closed, and at one period the market
was characterized by considerable excitement. Up to August last there had ap­
peared no visible change in the article, but about the middle of that month, ad­
vices from Europe caused holders here to become very firm, and Baltimore pig,
which had been almost nominal at $23 per ton, advanced to $24, and was quite
firm; the same week sales of Scotch pig were made to arrive on private terms,
the quotation for which had been $20 50 per ton. No particular change took
place until toward the latter part of September, when there were brisk sales of
Baltimore pig, stocks of which were small, and Scotch pig was sold to arrive at $24
per ton. On the 2d of October the Price-Current quoted Scotch pig at $25 50
to 26 50, and Baltimore pig $27 to 28, and the following week sales of the
former were made at $27 per ton, and of the latter at $28 to 30 per ton, with
active sales, and at the close of the week all kinds were held higher, stocks being
very much reduced. From that time forward until about the close of the year,
the market continued firm at the advance just noted, although no very large sales
were effected. The last week in December the advance was realized, sales
showing prices to be as follows: Scotch pig $32; Baltimore forge pig $33; pig
anthracite No. 1, $32, pig anthracite No. 2, $31; and all other descriptions in
proportion. The stocks of all kinds are limited, and the blast furnaces of our
State, most of which had been idle for some time, are now about going into opera­
tion again.
W e invite attention to the following table, which has been prepared with
much care.




Trade and Commerce o f Baltimore i n 1 8 5 2 .

177

IRON FURNACES OF MARYLAND.

Tho following table exhibits the names, number, location and capacity of all
the blast furnaces of the State of Maryland. During the late depression and ex­
cessive imports, most of these furnaces have been idle, but prices having greatly
improved, they are now about going into blast again:—
Furnaces.
Lonaconing................................
Mount S a v a g e ..........................
L e n a ...........................................
A n tie ta m ...................................
Green Spring............................
Blue R idge................................
C a to c tin .....................................
E l b a ...........................................
Muir K irk..................................
Curtis' C re e k ............................
P a tu x en t....................................
Elk R idge...................................
N asaongo...................................
A sh la n d .....................................
O reg o n .......................................
Gunpowder................................
H arford......................................
La G range.................................
S a r a h .........................................
H avre de G race........................
Princi pio.....................................
M aryland...................................
L aurel.........................................
Chesapeake ...............................
Cedar Point................................
Locust G rove............................

No.
1
2
1
1
1
1
1
1
1
1
2
1
1
2
1
1
1
1
1
2
1
1
1
1
2
1

Location.

Alleghany County................ tons

Capacity
per annum.

3.000
6.000

<C

Washington County..
M

1,600
2,600
1,000

Frederick County . . .
«<
Howard County.......
Ann Arundel County.
<(
it
<<
ii
(I
II
Worcester County...
Baltimore County.. .
II
it

Harford County........
II

3.000
1.500
1,600
2.000
2,000

4.000
2.000

1.500
7.000
4.000
2.500
1,600
1.000

1.500
5.000

it

Cecil County .,
Baltimore City

2.000

2.500
2.500
2.500
5.000

n
ii
14

2.000

Pig iron
31
70,500
It will be seen by the table below, that the receipts of this article
have exceeded those of 1851 by nearly 10,500,000 feet. This increase is alto­
gether owing to a steadily growing and healthy demand from the South for bet­
ter qualities of white pine. The Susquehanna and iis tributaries have furnished
a much larger amount than usual the past year; the Albany and Troy markets
having ruled very high, the receipts from those places have consisted only of
some two or three cargoes of white pine and a small quantity of hard wood.
Prices hero have averaged about the same as last year. First receipts last spring
appeared about the close of March, and trade fairly opened the second week in
April, with a very active demand. The supply through the greater part of April
was very good, the freshets having been pretty general in all the branches of tho
Susquehanna. Throughout the summer and fall there continued to be a good
regular demand, and at times the supply was deficient, causing prices of some
descriptions to advance. We have also to note a greater export demand for the
West India Islands and the Coast of South America, which bids fair to become a
considerable trade in a short time. The business in Southern or yellow pine at
Baltimore has not been very large the past year, the receipts being somewhat
limited, and prices have not undergone any particular change. That description
procured from Florida is generally of the best quality.
Total...............................

L um ber.

R E C E IP T S O F LU M B E R AT B A L T IM O R E F O R T H E

1848 .............................. feet
1849 ....................................
1850 ....................................

SS,132,688
59,673,039
63,000,000

1851
1852

PA ST F IV E T E A R S .

................... feet
..........................

60,000,000
76,402,129

In these figures it must be understood, arc included the amounts brought to
VOL. X X V III.— NO. i i .




12

178

Trade and Commerce o f Baltimore in 1 8 5 2 .

Baltimore which did not pass through our inspectors’ hands, having been in­
spected at different towns on the Susquehanna Railroad, by which route it was
brought to Baltimore. Thus the amount inspected at Baltimore the past year,
which was 67,002,129 feet, and the amount which came through Baltimore via
railroad, which was, up to 1st January, 1853, 9,400,000, make the total receipts
the past year 76,402,129 feet, or an increase of 16,402,129 over those of 1851.
M olasses. Sales of New Orleans were made in January at 28 a 28-J cents;
24th, 27J a 28 cents. The first of the Cuba crop, received about 30th January,
was sold to arrive at 19J cents; New Orleans continued to be maintained at
27i a 28 cts., and Cuba at 19^, until 14th of February it declined to 18 a 18£ cts.
Early in March receipts fell off for New Orleans, and prices improved, sales
having been made at 29i a 30 cents. A cargo of Porto Rico, the first of the
season, was sold on private terms, supposed at 25 a 26 cents; Cuba to arrive at
18 cents; 13th March Cuba sold at 17$, and towards the close of the month at
17 cts.; New Orleans 29 a 30 cts.; April 10th Porto Rico sold at 25 a 274 cts. ;
May, the stock was exhausted, and prime qualities were in good demand; a sale
of Porto Rico was made at 284 cents: later sales were made 284 a 29 cents;
June early Cuba sold at 234 cents, and English Island, the first that arrived, sold
254 a 26 cents; declined to 234 a 24 cts., in August and November to 22 cents;
market continued dull, with light stock during the balance of the year. The first
of new crop New Orleans was sold from the vessel early in December at 304 cts.,
and has varied but little from that price since.
It will be seen by the tables annexed that the imports from the West Indies
fall off nearly 900 hhds., compared with 1851, whilst those coastwise have been
nearly doubled.
IM P O R T A T IO N S OF M O LA SSES AT T H E P O R T O F B A L T IM O R E F O R T H E PA ST T H IR T E E N T E A R S .
W E S T I N D I E S .-----------,

,----------------COASTW ISE.-

Yeajs.

Hhds.

Trcs.

Bbls.

Hhds.

Trcs.

Bbls.

1840 ...............
1 8 4 1 ...............
1842 ...............
1843 ............... .
1844 ...............
1845 ............... .
1846 ...............
1847 ...............
1848 ...............
1849 ...............
1850 ...............
1 8 5 1 ...............
1852 ...............

5,420
4,256
3,676
2,769
5,654
3,620

316
169
155
163
434
248
642
488
852
499
529
3,829
2,064

167
510
224
15
520
430
692
165
247

901
678
413
1,250
586
785
407
248
721

363
521
475
309
75
683

6,317
5,964
9,805
9,541
4,996
10,150
6,925
2,907
12,703
11,068
14,715
7,615
14,794

6,686

7,e62
6,608
5,883
6,815
7,638

112

294
308
80

77
S13
888

201

8
554
251
244
171
153

The extent of the provision trade in Baltimore for the past
twelve months has greatly exceeded that of any previous period, and our com­
munication with the West being now perfected, we anticipate the coming year a
much larger amount of business than it has hitherto been possible for our deal­
ers to prosecute. Everything now indicates that in a few years Baltimore must
become one of the leading markets for the exportation of this article. The
stock of barreled pork in this market on the 1st of January, 1852, was only 800
bbls., and on the 1st of January, 1853, not more than 500 or 600 bbls. Total
exports for the year, 9,000 bbls. pork, and 3,081 bbls. beef. Throughout Janu­
ary last a fair amount of business was done, partly for Southern orders, with
rather limited receipts, the stock of barreled pork in the market being extremely
light at the close of the month.' About the middle of February there was con­
siderable activity, and large sales of both bulk and barreled pork were effected,
the market showing an upward tendency—the last week in that month dealers
became very firm on account of advices from the W est of an advance in bulk
meat and bacon, and the sales of the latter were large and principally for the
South—stock of lard very light. In March, bacon and pork were in active re­
quest, and heavy sales were effected; the demand being more than equal to the
P rovisions .




Trade and Commerce o f Baltimore in 1 8 5 2 .

119

supply, prices continue to advance. April opened with larger receipts of bar­
reled pork and bulk meat, via New Orleans—sales of lard small, stock still very
light; our report of the 10th showed a very active market with large sales of
every description—the orders from the South were quite large, and contributed
toward stiffening smoked meats—the next week presented a similar state of
things, market very animated; toward the end of the month the market grew
dull, and May opened rather languid for bacon, which declined; this feeling con­
tinued throughout the month, and though large sales were made, they were
generally at a decline. In June there was no improvement in meats, but lard
came into active demand, and sold freely about the middle of the month—a few
parties buying up' all the stock to hold in anticipation of an advance. July
opened with a good business in lard, but meats were still neglected, there being
no Southern demand, and at the close of the month there was an improvement
in the price of bacon and lard, with considerable sales. August did not present any
particular change. In September there was a fair amount of business transact­
ed, without any special improvement in the general tone of the market. October
was pretty much the same, but about the middle of the month lard became very
scarce. November opened with some briskness in mess pork, and the market
improved—stock on the 13th, 1,500 bbls. The last month of the year opened
with a good demand for new pork and bacon—old stocks being nearly exhausted,
not much was done—the month closed dull, dealers daily looking for receipts of
new meat.
We publish below a tabular statement of the range of prices in this market
in 1852:—
'
'
Shoulders.
Mess.
Prime.
Sides.
Hams.
January 1 7 .. §16 25 a
§13 50 a
8} a 8} . . a . .
8i a 9
Febru’y 1 4 .. 16 50 a §16 75
March 13 .., 16 50 a 17 00
A pril
1 7 .. 18 00 a 18 50
May
15.,. 18 50 a 19 00
June
19 .., 18 00 a 18 50
Ju ly
1 7 .. 19 25 a 19 37}
August 1 4 .. 19 25 a 19 50
Septem’r l 8 . ., 19 00 a 19 25
October 16 .. 17 50 a 18 00
Novem’r 13.., 16 00 a 17 00
Decem’r 18 .. 19 00 a ......

13
13
16
17
16
17
17
17
17

62}
75
00
00
50
60
50
25
00

.......

a §14 00 9 a
a 14 00 9} a
a 16 60 10 a
a
10}a
a 16 75 9} a
a 17 75 10} a
a 17 75 10} a
a 17 60 10 a
a
9} a
a
9 a
a
9} a

91 8} a 8}
9J- 8} a 9
8} a 9}
11
10} 9} a 9
10} 8} a 8}
. . . 8} a 8}
10} 8} a 9
lO f 9} a 9}
8} a 9
10
9} 8 a 8}
10} 9} a . .

10 a
10} a
10}a
10# a
10}a
10} a
10} a
12 a
12} a
12} a
13} a

11
11
11}
11
11}
12
13
18
14
..
..

In brandies there has been an almost unprecedented advance since
the month of July last, toward the close of which, stocks here being very much
reduced, Cognac, which we had quoted at $2 per gallon, sold at $2 10 for all
the new vintages, the demand having increased on account of unfavorable ad­
vices from France, with reference to the new crop. Gin, also, at that time be­
came firmer, Scheidam being quoted at an advance, in the foreign market, of two
florins per kan. The brandy market continued to tend upward, and the New
York Shipping List of the 31st July remarked that that market was in an excited
state, in consequence of confirmatory news from abroad, as to the failure of the
vintage, and reported the following sales there
S pirits .

150 half-pipes C ognac.............................................
50
“
Cham pagne........................................
250
“
Rochelle, p art to arrive..................
150
“
Bordeaux............................................

f1
1
1
1

97}
75
35
00

a $3 25
a 2 75
a 1 45
a 1 20

At auction the next week, brandy was sold here at $1 92 a §2 57}, pale and
dark, vintages of 1842 and 1849. The Shipping List, three days previously,
quoted—
Sales of Cognac a t .....................................................
“ Champagne..................................................
“ R ochelle.......................................................
“ B ordeaux......................................................




$1
1
1
1

95
75
45
10

a $3 75
a 2 75
a
1 60
a
1 35

Trade and Commerce o f Baltimore in 1 8 5 2 .

180

In October sales were made here at $2 30 for Cognac, 1851; Rochelle $1 60
a $1 70; and Bordeaux, $1 40. At this time (the 25th) tne fact was estab­
lished of the almost total failure of the vintage, being the worst that had taken
place for many years. The demand for England, California, and Australia was
quite large, and contributed toward stiffening prices and adding to the already
excited state of the market here and in France. In November prices further ad­
vanced, and on the 10th the following were the quotations:—
Hennessy.................................................
Otard, Dupuy & Oo..............................
Pinet & Co...............................................
Roullct <t C o .........................................
J. Durand & C o .....................................
J. J. D upuy.............................................
A. Seignette...........................................
Alex. S e ig n ette .....................................
Arzac Seignette.....................................

35
35
35
30
70
45
75
75
75

a $4 00
a 4 00
a 4 00
a 4 00
a 1 75
a 1 85
a 1 80
a 1 80
a 1 80

With a continued active demand for all kinds. Stocks of the old vintages had
become very much reduced in New York, and orders were sent on here to be
filled at a heavy advance, but our dealers were not willing to sell. The first
week in December prices again advanced 10 cents per gallon. The New York
Shipping List quoted as follows:—
C ognac.........................................................................
C ham pagne................................................................
Rochelle........................................................................
B o rd e au x .....................................................................

§2 40 a $3 25
1 87* a 2 87*
1 6 5 a 2 00
1 60

The last week in the year the price had reached $2 60 per gallon for the
leading brands, and all the others in proportion, with a tendency still further to
advance, which is likely to continue for some months. The whole advance since
the beginning has been about 80 per cent.
S u g a r . The importations the past year from the W est Indies have fallen off,
on account of short crop, about 4,000 hlids., but the receipts of Louisiana have
increased upward of 6,000 hhds. The stock on hand, January 1, 1852, was 285
hhds., same time 1853, 2,225 hhds. The first of the new crop New Orleans,
1851, was received on the 16th December, and that of the present crop on the
1st December. The market in 1852 continued quite steady without any feature
worthy of particular note until the month of March, when the stock growing
light the holders became firmer, but as the month drew to a close prices receded;
they rallied again soon after and large sales were effected during the spring
months at steadily improving rates, though chiefly on speculation based upon
light stock here, and in the markets eastward. In the month of June the de­
mand having partially subsided, prices indicated a decline, and during the sum­
mer but little comparatively was done, and the anticipations of speculators failed
to be realized; large supplies having been thrown on the market by eastern
holders in the month of October, prices ruled low. Toward the close of the
year the sales have been to a fair extent but at low prices.
st o c k s .

Hhds.

January
February
March
April
May
June
July
August
Septem ’r
October
Novemb’r
Decemb’r

i...

1 ...
i...

i...
i...
i...
i...
i...
i...

i...
1. . .
1...

285
350
1,268
1,299
2,439
2,054
6,065
7,326
5,920
3,220
2,327
1,698




4----------------------------------------- p r i c e s .----------------------------------------- ,
Now Orleans.

$4 50
3 85
4 62
4 50
4 37*
....
3 37*
....
5 25

a $5 75
a 5 90
a 6 75
a 5 75
a 5 75
a
a 5 50
a
a ••••
... . a • •••
.... a
4 87* a 6 00

....
,,,,

....

Porto Rico.

$4
4
5
5
6
5

60
00
15
50
20
87*

. .. Cuba.
a ....
a ....
.. a ....
$4 50 a $5 00
4 75 a ....
5 30 a 4 65
.. 5 60 a ....

a $5 20
a 5 80
a 6 60
a 6 25
a 6 25
a 6 75
a
6 00 a 6 25
4 25 a 6 90
5 87* a 6 25
5 75 a 6 00
6 60 a 6 00

....

5
5
5
5
5

20
00
12*
12*
00

a
a
a
a
a

6
5
6
6
5

80
25
50
75
87

Trade and Commerce o f Baltimore in 1 8 5 2 .

181

IM P O R TA TIO N S O F SUGAR AT T H E P O R T O F B A LTIM O R E F O R THF. L A ST T H IR T E E N T E A R S .

Years.
1 8 4 0 ____
1 8 4 1 ____
1 8 4 2 ____
1 8 4 3 ____
1 8 4 4 ____
1 8 4 5 ____
1 8 4 6 ____

New Orleans.
Hhds.
Bbls.
7,433
233
4,1 8 4
11
6,103
264
7,642
741
6,172
114
12,602
413
9,845
517

West Indies.
Hhds.
llbls. Years.
8,007 1,905 1 8 4 7 . . . .
8,750 4,006 1 8 4 8 . . .
10,828 1,253 1 8 4 9 . . . .
7,483
7 3 5 18 5 0 . . . .
10,885
536 1 8 5 1 . . .
6,161
209 1 8 5 2 . . . .
6,541
224

Now Orleans.
Ubls.
Hhds.
183
6,013
10,279 3,268
9,851 2,284
11,066 3,146
7,1 7 4 3,432
13,153
307

W est Indies.
Bbls.
Hhds.
18,240 4,236
14,841 2,393
12,570 5,654
11,454 1,420
16,732 2,643
12,619 2,653

T obacco. The stock in our State warehouses on the 1st of January, 1852,
was 17,699 hhds. The inspection during the year amounted to 48,332 hhds.,
which, added to the stock on hand, 1st January, 1852, together with receipts
from the District of Columbia, (not inspected,) 541 hhds., makes a total of
66,572 hhds. Of this amount there have been shipped, as is shown by the state­
ment annexed, 54,813 hhds., leaving a stock on hand on 1st January of 11,759
hhds., being 5,940 hhds. less than on 1st January, 1852. The foreign exports
the past year have been large, showing an increase compared with those of 1851
of 18,233 hhds. This is in part to be attributed to light stocks in Europe, the
filling of the French contracts, and the prevailing low freights during most of the
year.
Of Maryland tobacco, the inspections show the crop to have been near 5,000
hhds. more than in 1851. Early in the year, as usual, the market was very dull;
some little movement, however, began to take place toward the close of Febru­
ary, but there was no change of prices, the quotations then being for—
Common to good o rd in a ry .......................................
M iddliug.......................................................................
Good to fine brown.....................................................

$3 50
6 00
7 00

a $4 60
a 6 00
a 8 00

$2
3
3
4
6
5

a $3 00
a 3 50
a 4 00
a 6 00
a 6 50
a 8 00

Early in April the quotations were, for—
Frosted.........................................................................
Common.......................................................................
Good common..............................................................
Ordinary.......................................................................
Middling to good........................................................
Good to fine brown....................................................

60
00
60
50
00
60

And these prices continued to be firmly maintained until July, when an advance
of 50 cents on the low grades took place, and continued to rule until early in
September, when prices further advanced, the range being, for—
Ground leaves
F ro sted ..........
Inferior...........
Good common.
Brown.............
Fine brown__

$4
3
4
6
6
8

00
60
00
00
50
00

a $7 60
a 4 00
a 5 60
a 6 00
a 7 60
a 9 00

And these prices, on account of the light receipts and small stock in factors'
hands, continued to be maintained until near the close of the year, when, under
the enhanced rates of freight, the market became depressed and prices relaxed
slightly. Of Ohio descriptions the sales have been unusually large, embracing
the entire stock left over from 1851, amounting to neaf 7,000 hhds., together
with nearly the entire receipts of the past year, forming a total of 24,000 hhds.
The crop was of very inferior quality, and prices ruled quite low during the
whole year. There was no difficulty experienced in the filling of the French
contract, there being no competition for the stock required by the regie, and after
that was completed, in September, the market began to exhibit signs of a de­
cline, but large orders from Austria appearing soon after, the market recovered it»
previously firm tone, which was maintained until nearly the entire stock in fac­
tors’ hands was closed out.




Trade and Commerce of Baltimore in 1 8 5 2 .

182

TOBACCO STA TEM EN T S H O W IN G T H E Q UA NTITY IN T H E S E V E R A L W A R E H O U S E S ON T H E
O F JA N U A R Y ,
CEM BER

81,

1852,

T H E IN S P E C T IO N S

BY

EA C H

H O U SE

FOR

THE

D E L IV E R IE S F O R T H E SA M E P E R IO D , AND STOCK ON HAND JA N U A R Y

No. 1.

No. 2.

No. 3.

4,082
8,114

1, 1853.*

No. 5.

Total.

3,654 17,699
9,940 48,332

Stock, January 1, 1852...............
Inspections of 1852....................

3,996 3,259
11,853 10,029

Total..................................
Deliveries, 1852..........................

15,849 13,288 11,104 12,196 13,594 66,031
13,749 11,577 9,223 9,072 10,651 54,272

Stock, January 1, 1853...

2,100

1,711

2,708
8,396

No. 4.

1ST

Y E A R E N D IN G D E ­

1,881

3,124

2,943 11,759

The following statement shows the stock in warehouses on the 1st January,
1852, and the quantity of each kind inspected for the year ending December 31,
1852:—
Stock in warehouses, January 1, 1852 ....................... hhds.
Inspections from January1 to December 81, 1852, viz.:—
Maryland............................................. hhds.
29.569
Ohio.............................................................
17,720
Kentucky......................................................
837
Virginia........................................................
200
Pennsylvania.......... ..................................
6
------ To which add received from District of Columbia, and not
inspected.........................................................................

17,699

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

66,572

EXPORTED, 1852.
To Bremen............................................hhds.
To Rotterdam..............................................
To Amsterdam.............................................
To France............................................
To England....................
To Trieste.....................................................
To St. Petersburg.........................................
To Hamburg................................................
To Emden....................................................
To Africa.....................................................
To West Indies............................................
To other ports.............................................
To coastwise ports........................................

22,860
11,473
5,067
7,679
2,847
830
210
618
186
158
176
253
2,456
--------

Stock on hand, January 1, 1853.............................

48,332
541

54,813
11,759

The leading features of the past year’s business
in this important article have been, much regularity of demand as compared with
the previous year, and a more uniform scale of prices, with little variation. The
stock now on hand to go over to the next season is made up chiefly of desirable
kinds of fine, good, and medium qualities, mostly of the manufacture of last
summer and fall, wild*a small proportion comparatively of common and perish­
able descriptions. Agents and holders will therefore have it in their power to
meet the early trade expected in the coming season with perhaps a better supply
than they have been able to offer within several years, and present advantages to
new buyers, which it is conceded this market, from location alone, enjoys over
those eastwardly. Prices are now settled down to a point barely remunerative
M anufactured T obacco.

* For a tabular statement of tobacco inspections at Baltimore, and exports from that port for the
ten years from 1841 to J851, see Mtrchants' Magazine, (vol. xxvi.. page 183.




Trade and Commerce o f Baltimore in 1 8 5 2 .

183

to manufacturers; the raw material gains additional value as the old crop, now
nearly or quite consumed, goes into use, and no likelihood of an abatement du­
ring the coming season need be apprehended from the prices now quoted, which
are:—
Pound lumps of extra fine quality.......................................................cents
“
No. 1 b ra n d s........................................................................
“
m edium ................................................................................
“
common................................................................................
Best brands of 5’s and 8’s l u m p ..................................................................
Medium
“
“
...................................................................
Common
“
“
* ...................................................................
“
16’s, 18’s, and 20’s lum p..................................................................
Ladies’ twist and other spun w o rk ..............................................................

SO to 40
23 to 28
12 to 16
8tol0
17 to 22
14 to 16
11 to 13
8 to 10
22 to 27

W h isk y . The extent of our trade in this article, although known to be large,
cannot be arrived at with anything like accuracy, on account of the imperfect
system of inspections which prevails here; taking, however, into account the ca­
pacity of the four distilleries which have been in operation throughout the best
part of the year, and the receipts by railroad and coastwise vessels, we are safe
in putting down in round numbers the total receipts at 115,000 bbls. for 1852.
W e are unable at present to givfe anything further than the range of prices of tho
raw article throughout the year, as reported in the Price Current:—
P R IC E S OK R A W W H IS K Y IN

B A R R E L S AT B A L T IM O R E ON T H E
M ONTH,

January 1 .........
February 1 .........
March 1 .............
April 1 .................
May 1 .................
June 1 .................
July 1 .................
August 1 .............
September 1 . . . .
October 1............
November 1 . . .
December 1........

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

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

a
a
a
a
a
a
21* a
22* a
a
a
a
a
21*
23*
21*
21*.

1ST

AND

..

January 1 5 . __
February 1 5 ___
March 1 5 ...........
April 1 5 ...............
May 15 .................
June 1 5 ...............
July 15.................
August 1 5 ...........
. . September 1 5 __
October 1 5 .........
November 1 5 . . . .
2 8 * December 15 . . .
22
24
22
22
21*
22
23

15 th

O F EACH

1852.

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

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

a
a
a
a
a
a
a
22* a
25 a
25 a
2 7* a
25* a

23
22
22
21*
21

22
2 3*
22*
22*
22
21*
23
23

..
28
26

W ool . The total receipts of this article at Baltimore for the year just past,
amount to about 925,000 lbs. of both foreign and domestic raising, of which
some 600,000 lbs. was domestic, and 325,000 lbs. foreign. Toward the close of
the year prices advanced 8 a 10 cents per lb. on domestic—there was also a slight
advance on foreign. In the foreign importations of this article there has been a
great falling off at this port, as well as at most of the other United States ports.
Of domestic there appears to be an increase, which would indicate that our farm­
ers are paying more attention to the raising of sheep, something which they have
hitherto been wholly prevented fiom doing from the want of legislation for the
protection and encouragement of this very important interest. Legislation for
the fostering and protection of the raising of sheep in Maryland would enable
our farmers to raise as good wool as any other State, the soil and climate being
well adapted for the purpose. As it is now, the ravages committed by dogs, and
other circumstances, must continue to restrict the promotion of this branch of
farming to a comparatively small extent. It is known that the wool of this State
is now equal to that of any other State, although every disadvantage has been
contended against, while in other States series of laws have been enacted for the
development of wool growing, none of which are as yet in existence in Maryland.
The consumption of the article being greatly on the increase in our country, we
trust that, so far as our Legislature is concerned, no action will be wanting to
meet the necessities of its cultivation.




Mercantile Biography:

184

IN S P E C T IO N O F F IS H I N B A L T IM O R E ,

No. 1.

Mackerel.............
it
Herrings............ ...................bbls.
It

Shad..................
“ ..............
Codfish...............
Salmon.............
Scalefish............
Alewive9...........
Bluefish..............

No. 2.

1852.

No. 3.

ConTotal,
demned. 1852.

Total,
1851.

1,131 2,716 15,254 1,480 20,581 29,601
55 5,513 6,629
461
976 2,021
.... 1,084 28,338 22,404
26,176 1,078
140 1,608 1,513
1,468
....
105 4,702 3,031
198
4,399
726 1,144
16
678
32
174
278
12
266
67
43
67
14
142
22
12
10
25
50
50
10
.•
1
9
• •••

Art. IV.— M E R C A N T I L E B I O G R A P I I Y .
SAM UEL BUDGETT, OF KINGSWOOD, ENGLAND.

W hile a claim of professional elevation in regard to nearly all the tradedivisions of the community— a claim liable in more than one case to serious
dispute—is being asserted, the mercantile character, undoubtedly, is under­
going an improvement of pace not inferior to the general progression.
W ith the perpetually augmenting importance of Commerce, and the better
understanding of its uses and dignity, has been acquired a clearer percep­
tion of the features that constitute the mentality of the true merchant. It
is seen that something better, something nobler, is needed than the one­
sided, self-concentered, undeveloped individuality, hitherto existing, which,
although not more perfect than the average Man turned out of the molds
of other vocations, is yet incapable of giving expression to the true tenden­
cy of his calling. The old, unamiable trader, so often pictured with a de­
formity that really owed but little of its ugliness to caricature— the man of
contracted brows, shriveled features, and restless eye, whose heart might
have been made at the mint, whose every motion and gesture seemed an
effort to grasp, and whose lingers, by perpetual grasping, had nearly acquired
the form and horny consistence of talons— the man whose only waking
thoughts were of rents, dues, attachments, and prisons for the non-paying,
and whose only dreams were of gain and loss— the one a benignant figure
emptying a huge cornucopia of yellow coin into his lap, the other a horri­
ble specter, swallowing up houses and lands, stocks and bonds, interest and
principal, with remorseless gulp—he, so long the representative and reproach
of Commerce, is fast passing away and giving place to the true type of the
mercantile man. A great and successful effort, pushed by the thousands of
merchants, all over the world, who have enlarged their conceptions to a
comprehension of the real sphere of trade, and have attained to healthy in­
dividual aspirations, is going forward, for the elevation of the standard of
character in the profession. No more efficient means of promoting this
great object is to be found than in the publication of the fives of those
men distinguished in commercial pursuits— who have been the best repre­
sentatives of the ideal merchant. The Merchants' Magazine has, from its
commencement in July, 1839, directed its attention to this much neglected




Samuel Budgett, o f Kingsviood, England.

185

species of biography, and will continue hereafter to give such chapters of
Mercantile Life as materials may be found to compose. These narratives
are designed especially for the study of young men who have just entered
the profession, or who are preparing therefor. The biography following is
that of a man in the best sense of the term, a model merchant—worthy to
be the professional exemplar of every person now engaged in, or who in­
tends to enlist in the business which he dignified. Few can be like him—
but all can try, and for trying will assuredly be made better merchants and
nobler men.
S amuel B udgett was born o f very poor parents, in the little town of
W rington, Somersetshire, England, on the 27th of July, 1794. I t was the
same place that gave birth to the immortal John Locke. W hile very young,
his parents removed to the village of Blackwell, and again, when he was
five years of age, to Nailsea. The first glimpse of his character exhibits a
sensitiveness amounting to a painful, heart-sinking timidity, and a caution
thereby induced, which gave him the habit of treasuring up lessons from his
every-day experiences as correctives for the future. H e was born a mer­
chant; the first display of his mercantile predilections was begun when he
was about ten years oid, at Coleford, and he then commenced the founda­
tion of those habits in regard to business which continued with him through
life, and by which he wrought out a career of brilliant prosperity. His own
account of his first essay in traffic, and his first acquisition of money, is as
follows:—
“ The first money I ever recollect possessing was gained in the following
w ay:— I went to Mr. Milks, of Kilmersdon, to school, a distance of three
miles. On my way I picked up a horse-shoe, and carried it about three
miles, and sold it to a blacksmith for a penny. That was the first penny I
ever recollect possessing, and T kept it for some time. A few weeks after,
the same man called my attention to a boy who was carrying off some dirt
opposite his door, and offered, if I would beat the boy, who was a bigger
boy than myself, to give mo a penny. I did so; he made a mark upon it,
and promised if I would bring it to him that day fortnight, he would give
me another. I took it to him at the appointed time, when he fulfilled his
promise, and I thus became possessed of three pence; since which, I have
never been without, except when I gave it all away.
“ The next addition to my stock of money was, when one of my sisters,
in drawing molasses, had let it run over, and a considerable quantity was
wasted. After taking up what she thought was worth saving, and being
about to wash away the remainder, I ran to my mother and said, ‘ Mother,
may I scrape up th a t molasses, and sell it for myself 3* Having gained her
consent, I set to work, scraped it up as clean as possible, and sold it for
three half-pence. Thus, by little and little, my fund became augmented,
until I had enough to purchase ‘ W esley’s Hymns,’ and I considered myself
a rich and happy boy.”
The last line of the above paragraph reveals two very important elements
in the character of our subject, one of which at least, and in most cases
both, would not be found in one so eager to get money, and so ingenious in
schemes of very small trading. One of these is his correct notion of the
value and use of money, the preference of the book to his little acquisition,
showing that there was nothing miserly in his desire for money, strong as it
was; the other is the deep, pervading religious sentiment of his mind,
which governed all his actions through life, allowed him to seek the advance­




186

Mercantile Biography:

ment of liis fortunes only by the most honorable means, and made him al­
most a pious enthusiast.
A brother who survived him, speaks of him as at this period perpetually
trading. Observing that for a half-penny he got but six marbles, and for a
penny fourteen, he conceived the idea of driving a profitable trade, by step­
ping in between the shopkeeper and his school-mates. H e bought marbles
by the penny-worth, and sold by the half-penny-worth, making two marbles
clear on each penny-worth bought. H e conducted a similar trade in lozen­
ges. Having thus increased his funds, he ventured into a larger business.
On his way to school one day, he encountered a woman bearing a basket of
cucumbers; he bought her whole stock, and although they were more difficult
to dispose of than the marbles, yet by persevering he sold the whole of them,
realizing a profit on the transaction of nine-pence.
“ I s t i l l w e n t o n to a c c u m u l a t e , b y s e i z i n g every o p p o r t u n i t y , s u c h as b u y ­
i n g a f e w e g g s , or c h i c k e n s , a y o u D g d o n k e y , or p i g . ”
The adventure of the
d o n k e y he t h u s relates
“ I was one day coming from Leigh, when about twelve years of age, and
saw a man walking along with an old donkey and a young one. 1 asked
the price of the young one. H e said two-and-six-pence. I tried to see if
he would take less; but finding he would not, got a cord, put it round his
neck, paid the two-and-six-pence, took it home, and kept it for a few days,
then sold it to a Mrs. Ellis for five shillings ; but she said she had no money,
but would pay in the course of the week. I objected to leave it without se­
curity. But here a difficulty arose, as she had no security to offer but a
pair of new stays, which had just cost ten shillings. ‘ 0 !’ said I, ‘ there is
nothing like that, because it is easily carried.’ So on receiving them, I car­
ried them all through the village in my hand, and said, ‘ Mother, here’s a
pair of stays. I have sold the donkey; Mrs. Ellis will call and pay five
shillings; be sure and not let her have the stays without the money. The
donkey, however, unfortunately d ie d ; and she wish to have the stays re­
turned without the money, but in vain, as I believed the death was occa­
sioned by want of proper treatm ent; and by that I learned, ‘ A bird in the
hand is worth two in the bush.’ ”
From this and like cases, he draws the maxim which led him afterward
to establish the cash rule in his business, and to adhere to it with unflinch­
ing pertinacity, whatever appearances of present loss might threaten.
Another important lesson he learned at the same age, in 1806 or 7. A
young man called on his mother from a shop in Shepton, to solicit orders in
the grocery trade. H e failed, and our juvenile merchant, who had closely
observed his mode of procedure, fell to criticising the performance of his
commission, and satisfied himself of the cause of the failure. His manner
was not sufficiently modest and attractive, and if, instead of mentioning, as
he did, so many articles at the prices they had usually given, “ he had just
offered one or two at a lower price than we have been in the habit of giving,
she would have been induced to try those articles, and thus he would have
been introduced, most likely, to her whole trade.” The lesson then learned,
he says, “ has since that been worth to me thousands of pounds.”
By the time yoi ng Budgett had reached his fourteenth year, he was “ an
old merchant in practice and sagacity, and thirty pounds in sterling cash
was the fruit of his boyish barter.” H e was now (April, 1809,) apprenticed
to his elder brother, who kept a small grocery at Kingswood. W hat might
not his present capital become at the end of his seven years’ apprenticeship




Samuel Budgett, o f Kingswood, England.

187

if used with only as much ability as his pennies and shillings had been?
H e did not stop to calculate. The boy who would leave Mrs. Ellis unstayed,
rather than trust her for five shillings, upon leaving Coleford for Kingswood,
presented the whole fortune he had amassed by years of trade, little by lit­
tle, to his parents. They would have returned it to him, but were unable.
The education he had received before entering upon his apprenticeship
was of no better kind than was to be attained at that period in the rural
districts of England. During the time that his family resided at Kings­
wood, he mentions his attendance at the school of a Mrs. Stone, whose us­
ual mode of punishment was to put her pupils in the corner with Mr. Stone’s
long, speckled worsted stocking drawn over their h eads; and next, he was
placed at school with an old woman who spun worsted and terrible tales of
ghosts and hobgoblins, in which he imbibed a “ tremendous belief,” accom­
panied with a corresponding dread. Besides these institutions of learning,
he mentions another school he attended, at Kilmersdon, on the way from
which he found the memorable horse-shoe. He was also sent for two years
to a school that appears to have been of rather higher grade, at Midsomer
Norton, where he and his younger brother were weekly boarders.
About this time, being called on to decide what occupation he should
follow, he was, he tells us, “ in a great strait between two courses in life, as
to whether I had better direct my attention to obtaining a qualification for
going out as a missionary, or to prepare for business.” Toward the former
course he had a very strong leaning, and had nearly resolved on its adop­
tion, but finally, through a want of confidence in his capacity therefor, and
from a sense of the strong claims of his family on his efforts in a pecuniary
way, he resolved to plod on as he could, get his bread, and help his family.
Mr. H. H . Budgett, the brother to whom Samuel was apprenticed, occu­
pied a very humble house, but it was yet the most considerable in the place,
and was called “ the great shop on the cassv,” (causeway.) H e kept “ all
things which the matrons of such homesteads as abounded at Kingswood
might want for person or board.” To show further how promising a situa­
tion this appeared for a young man possessed of an ambition to become a
great merchant, the people around w’ere a collier population, living in rude
co ts; and in the immediate neighborhood were nests of organized robbers,
who ravaged the surrounding country without hindrance.
In this little
shop the apprentice was doomed to heavy duties and long hours, and the
toil and weariness of these days he remembered vividly and spoke often
about when in the hight of his prosperity. He was a small boy of his
years, and not strong; for which reason, his brother, in the middle of his
time, June, 1812, gave him notice to leave. To his sensitive nature, this
was a terrible blow— but he did not despond. A month was allowed him
to look for a situation. H e entered a shop in Bristol, where he had heard
of a vacancy, and timidly but eagerly addressed the shopkeeper. H e felt
his size, his looks, his dress, everything was against him. The first effort he
made to show his ability was in reckoning the price of 86 lbs. of bacon at
9 id . per lb. He made the effort twice, and the reckoning was both times
wrong. To increase his despair, a taller, better dressed, and in every way
far more eligible candidate came in. The excitement of the poor boy, in
the effort to carry a large cheese to test his strength, and his whole spirit,
won on the shopkeeper’s wife, and at her solicitation he was taken. Before
going to his new place, the dismissed apprentice, smarting yet under his
disgrace, went to visit his parents at Coleford, in company with a younger




188

Mercantile B iography:

brother, apprenticed at Bristol. On the road, he thought over his failure to
cast lip the price of the 86 lbs. of bacon, and set about improving himself
on the way in arithmetic. H e kept on in his studies, pressing the superior
knowledge of his brother into his service, until the latter had become
doubly fatigued with the walk and with the problems. They lost the road,
and slept that night by the fire of a coke-kiln, where Samuel’s dread of
sprites haunted h im ; but they passed the night unharmed of them, and
reached Coleford next morning.
The family had not prospered in Samuel’s absence, and the condition in
which he found them gave greater stimulus to his determination to improve
their fortune. H e started for his new situation; on the way he met a man
with a jay, which he bought for three pence, and, having part of the day
to spare, on arriving at Bristol took his stand on a bridge with the jay on
his finger, which he offered for sale. The day was passing away, and ho
had found no purchaser. Fearful of losing his chauce altogether, he left
his unsuccessful stand, and entered some private houses, and at length sold
his bird for a shilling—realizing nine pence for the day’s labor. H e was at
this time about 18 years of age, knew something of town life, having often
been in Bristol, and must have felt the humility of that day’s effort. B ut
his family was in need, and he had determined to make for his mother a
happy home.
W ith his new master he was soon in high esteem, and when he had been
there six months, his brother desired him to return to his service. His
master strongly objected, and offered him an “ advancing salary.” But his
brother told him it was his duty to serve out his time, and he decided to
return and complete the three years and over of his unfinished apprentice­
ship. It was some time during his apprenticeship that two of his sisters
came to Bristol and begun business. H e had become possessed of a second
little capital of fifteen shillings, but again he determined to “ give it all
away,” and expended the whole in coals for his sisters.
In his brother’s shop, Samuel put so much heart in his attentions, and
had such address in his mode of serving, that he became a great favorite.
A t about 22 years of age his apprenticeship expired, and he then made an
engagement with his brother for three years at a salary of £40, £ 50, and
£ 60 respectively. In these three years, lay practicing the strictest economy,
his only luxuries being a few modest books, he had, beside giving freely to
his friends as they had need, saved £100 out of his salary. His brother
had embarked in a banking speculation, had been unfortunate, and was in
jeopardy. Samuel at once begged him to accept his little stock, and was
thus a third time moneyless. He was now, fifteen years after his first trade,
where he was when the blacksmith gave him his first penny.
Soon after this he was taken into partnership with his brother, the busi­
ness was thriving, and in a short time he was able to take up a little cottage
in a lane, opposite the sh o p ; he was now married to a Miss Smith, of Midsomer Norton, and found himself in the enjoyment of a happy though hum­
ble fireside, and with a cheerful prospect in trade.
W hile in his brother’s employ, Samuel had suggested new plans of con­
ducting the purchases, and had taken that department, to a considerable ex­
tent, into his own hands. After going into the concern, he kept a sharp
eye for every means of improving their trade. H e watched the markets
closely, and seized every advantage that offered in buying and selling. The
trade steadily grew, and Budgett’s became famous for its bargains. The




Samuel Budgclt, o f Kingswood, England.

189

views of the younger partner constantly enlarged, and lie came to aim at a
large wholesale establishment. But all this was to be effected in a gradual
way, and not by any sudden jump over the gulf that separated him now
from his object. He started on regular visits to the neighboring villages to
solicit orders from the people, and succeeding in this, next designed supply­
ing the small stores. This, too, ho effected, the length and importance of
the journey, and of consequence the dimensions and variety of their trade,
regularly increasing.
In process of time, the Budgetts undertook to supply the large shops of
the important towns around, with such articles as sugar, teas, butter, &c.,
and although Samuel, who went on the mission, was at first very discourte­
ously received by these grocery magnates, who were highly affronted at the
presumption of the shopkeeper from the insignificant and out-of-the-way
village of Kingswood, in offering to furnish theni with wholesale supplies,
yet his perseverance triumphed. All men will buy where they can cheap­
est, and accordingly these respectable grocers were no sooner convinced that
they could purchase most cheaply at Kingswood, than thither they sent their
custom. A regular monthly journey was organized, and it was made the
great care less to gain new customers than to retain what had been acquired.
The Bristol merchants saw themselves in danger of being dwarfed, and envy
occasioned. violent rancors against the new firm. But in spite of all tho
rivalry of old wealthy establishments in a great city, of an unfavorable lo­
cality, of the utter want of prestige, of a small capital, and of combinations
to destroy their credit, their business continued to expand. Mr. Budgett
soon ceased to travel himself, but tho journeys were kept up by agents, and
extended until the connection covered the country from Penzance to Bir­
mingham, from Haverfordwest to Wiltshire. Thus was a vast business
speedily created, and all without the aid of any adventitious means. It
was simply a plain homely business, extended by simple means, and under
most unfavoring circumstances. It was the triumph of commercial tact,
of perseverance, of will, over the hostility of circumstances. As one of
these obstacles, nearly all their goods had to be carried four miles by
teams of their own, from the market to the store, and carried back again
four miles, from the store to the wharf or the carrier.
After the brothers had been in partnership about twenty years, the elder
retired, leaving Samuel the solo direction of the establishment. The latter
continued in this position until the time of his death, at which time he left
the largest business in the west of England— the yearly returns of which
were close upon three-fourths of a million. Tho principal warehouse was at
Bristol, and branches were established in all the neighboring towns.
In the management of this great business, the invariable rule was, that
all purchases in the neighborhood were to be paid for immediately. With
distant customers this was impossible, and the rule adopted with them was,
payment within the month, each customer being waited on by an agent,
once in four weeks; and in those visits the utmost punctuality, both as to
day and hour, was observed. If the tradesman was not found at home,
or was unprepared, no second call was made, nor was any new order taken
from him until his account was discharged. These regulations he had com­
menced with, and fought his way up under them. No deviation was ever
made. Every customer knew his system, and he would not trade with any
man who met him under false pretences.
The utmost system and regularity prevailed in the management of every
thing about the establishment; every man being disciplined to his partic­




190

Mercantile Biography :

ular duty. H e ta d a remarkable discernment of men, and knew what ones
to employ, and where each was best placed. W hen he entered the bus­
iness the hours of work of the men, were from six in the morning to ten
or eleven at night. As his system progressed, the time was shortened, step
by step, and at last he contrived to have the work done at five, an improve­
ment to the advantage of all. On one occasion, the establishment at Kingswood was visited with a fire, which destroyed all the warehouses, the count­
ing-houses, and the retail shop, with all their stock. The insurance was
£8,000, and the loss beyond that about £3,000. Y et the next morning a
circular was issued by the firm to their customers, stating that a fire in
the premises had delayed the execution of their orders, but th at the goods
should be dispatched on the following day. A building adjoining the ware­
house in Bristol was immediately engaged, all energies were worked, and
the promise was fully performed. The building employed was permanently
added to the warehouse, and thenceforth Bristol became the principal seat
of the business.
It was a fixed principle of Mr. Budgett to deal justly in all his transac­
tions, although in a bargain he was as close as any other. In his early days
it was the custom to adulterate pepper, among other articles, which was then
under a heavy tax. A cask labeled P. D. containing a substance that resem­
bled pepper dust, stood in the shop, and was used to mix with the pepper
before it was sold. He reflected on this, became satisfied it was wrong in
spite of logic, and the false P . D. was cast out into the quarry.
During his whole career, Mr. Budgett made but a single essay in specu­
lation. This was at the time the tea-market was agitated by the Chinese
war. He cleared in one week by his tea adventure, about £2,000, but lost
about as much by it in the course of a year; and then returned to his old
principle, more satisfied than ever, that the slow and laborious progress of
secure trading is better than risky adventures, where all is made or lost in a
day.
In his personal intercourse with his employees, Mr. Budgett was extremely
familiar, and was courteous and sociable with everybody. Airs and assump­
tions he had none. H e was thought by many to be inattentive to dignity :
but if he failed thereby to inspire those beneath him with awe, he gained
what was far better, their respect and affection. The curtailment of the
hours of labor, before mentioned, was made with especial reference to the
comfort of the men in his employ. H e endeavored to make every one of them
feel he had an interest in the business; once a month the agents and heads
of departments were assembled together to make their reports, and offer
suggestions in relation to the parts of the business in their respective char­
ges. The humblest individual was attentively listened to, and if he could
suggest any real improvement in his branch, his idea was adopted, and he
was rewarded therefor. Attention and punctuality were always rewarded.
One rule was that every man who had not been tardy at his post during the
year, received a sovereign, but this was not his only reward ; the gifts from
his employer were commensurate with his good qualities. It was Mr. Budgett’s custom to take his stand on each Friday evening, at a Gothic door by
which his men went out at the close of work, with his pockets or a small
basket filled with little packages, which he distributed to the men as they
passed. One found he had a present of five shillings, another of three, a
third of half a crown, according to their deserts. These weekly presents
amounted to £12 or £1 5 . B ut those little rewards were not all. Every




Samuel Budgett, o f Kingswood, England.

191

man prospered according to the prosperity of the business. At stock-taking
the amounts shared among the men were very large. Sometimes a hun­
dred pounds would be given to an ordinary laborer. These distributions
were made at a supper to all the men, immediately following the event of
stock-taking, this feast being held on his grounds at Kingswood. The em­
ployees assembled usually numbered three or four hundred, and the occasion
was one of exceeding interest. The principal spoke to the men and en­
couraged speeches from them. The supper was followed by athletic exer­
cises, games, and other amusements.
Mr. Budgett was extremely careful to inculcate good habits in all his work­
men. He taught them to be economical and self denying. lie obtained
their consent to abolish the practice of giving them daily allowances of beer,
which prevailed at his entrance in the establishment, in lieu of which an
equivalent addition was made to their wages. He was zealous for their re­
ligious welfare, also ; and one indispensable part of the arrangements in his
establishment, was the assembling the men to religious exercises, every
morning before business was commenced. These exercises consisted of
reading the Scriptures, prayer and singing.
In works of charity, Mr. Budgett’s generosity was almost unlimited, and
all his gifts were without ostentation. He bestowed liberally on churches,
established week-day and Sabbath schools, and scattered with unsparing
hand among the needy. Men embarrassed in trade were often relieved and
set firmly on their feet again, by his unsolicited and timely assistance. The
blessings of the widow and orphan were perpetually upon his head, and the
hearts of strong men melted at the mention of his name. His gifts were at
first without any particular system, afterward he devoted one-sixth part of
his income to charitable distribution.
In his family and among all his relatives, no man could be more endear­
ed. He had no neglected kin who hated his name, and envied his great­
ness. He gave his sons a responsibility in the business, and showed a def­
erence to their judgment, uncommon for a man so much the architect of his
own fortune. As an instance of his confidence in his children, when his
eldest son was but twenty years of age, he allowed his four boys to go
alone upon the continent for several weeks. Nor did he misjudge them.
One mode of his treatment at the family hearth and elsewhere, was to cre­
ate a virtue by giving one credit for it, and assuming him to be incapable
of the opposite vice.
Not the least work that he accomplished was the improvement of his
neighborhood. He maintained his residence at Kingswood, throughout all
his business career, and effected there a moral improvement as great as that
he accomplished in the material appearance of the place. W e have before
spoken of the class of people inhabiting this unprepossessing village. To
show further the unpleasant character of a portion of his neighbors, it is sta
ted that in one family, of five sons and a daughter, two sons were hanged,
the other three transported, and the daughter had three successive husbands,
who were all transported, too. When the bodies of the two brothers who
had been hung were restored to their relations, the latter turned them to
account by exhibiting them in their coffins, at a penny a sight. By the
efforts of the Budgetts, seconded by a few others, the desperate tribe of ma­
rauders before mentioned were' finally subdued. It was a dangerous task,
but a determined spirit accomplished it at last. Mr. II. H. Budgett, the
elder brother, first addressed himself vigorously to this work, gradually se­




192

Mercantile Biography.

curing co-operation. Churches and schools, in the erection of which the
firm took a leading part, followed, and Mr. Samuel Budgett, with his sons
and his brother Henry, labored enthusiastically to gather the vicious part of
the population into these places. On these errands he would be employed
during the whole day, for a greater portion of the Sabbaths— and these ho
called the happiest days of his life. About the period of his marriage ho
began to labor as a local preacher, and for years met the appointments as­
signed him to the neighboring places. Ilis sermons are described as of a
very effective character, and left no doubt that had he followed his early
leaning, he would have made a most efficient missionary among the heathen
— perhaps he did as much good, however, as a home-missionary among the
heathen around his door.
He was a great seeker of knowledge, and had a very decided literary
taste. But he had nothing of the pedantic ambition of a would-be-consid­
ered literateur. He had a very humble conception of his own acquirements,
and devoted such part of his time as he could spare to amend the deficiency.
He did not seek to become a scholar, but simply to gain more knowledge,
and to store his mind with ennobling sentiments. lie had a strong relish
for poetry, showing that a strong practical mind is not necessarily disjoined
from the lighter graces of imagination. Watts and Wesley were dear to
him from youth. In after life Young and Cowper were his special favorites,
and the copies of these delightful poets in his library w7ere well penciled
over. Thomson was one of his choice companions. But he was not re­
stricted to these. His range of authors was considerable; and his memory
of their beauties was so good, that he would sometimes challenge a com­
panion on a ramble to name any subject on which he could not produce a
verse—a challenge almost always made good.
In his mode of life there was no ostentation. Ho had a fine house and
beautiful grounds; plentifulness was everywhere, but plainness and economy
were as visible. He was extremely sociable, and fond of entertaining his
friends; but with all his geniality of disposition, nobody ever commemor­
ated his great parties, his brilliant soirees, or his champagne re-unions.
He gave away many horses, yet he never drove a pair, thinking it too much
display.
The principal elements in the character of Samuel Budgett, as already
partially exhibited in this narrative, were a swift intuition of character
and of circumstances, which was his most remarkable point, and chief
source of power. The rapidity and certainty with which he exercised
this faculty wras astonishing. He had also, in the highest degree, the power
of concentrated thought. He thought rapidly, but no subject was allowed
to intrude until that in hand was dismissed. His temperament was singu­
larly active and excitable, impelling him always to do, yet guided always by
great caution and foresight. He was as persevering as active, and made it
a rule “ never to attempt without accomplishing.” His [lower over the
minds of others was immense, and those associated with him, he impressed
so with his own spirit as to cause them to move all as parts of a single ma­
chine, of which lie was the impelling force. His temper was naturally
hasty, but he never retained anger. Ilis heart was singularly open, and so
different from the secretiveness supposed to be an essential to a good busi­
ness character, he communicated his ideas to friends with a freedom few
could return. He was in his whole nature, indeed, the very reverse of that
cold, unethereal, selfish nature, which many consider the only basis from
which a “ successful merchant” can be developed.




Property and National Wealth.

193

In condensing the facts of this biography from a life of the man, by W il­
liam Arthur, A. M., we have been obliged by our limits to despoil the nar­
rative of a great portion of its interest, and to curtail the reflections sugges­
ted by incidents of the story. W e have especially compressed that part
which gives the progress of his commercial prosperity; as the particulars
embodied are sufficient to give merchants a correct idea of the causes of his
rise, of his business system, and the cast of mercantile character which he
possessed. It was our especial desire to show what he was beside, and at
the same time with, being a great merchant. That he was not simply a
trader; but that he had heart and capacity for simultaneous success in
other spheres; and instead of being isolated in the little world of mere bar­
gains, he was a developed Man, who knew the relations of the different in­
terests and conditions of society, had his manifold fields of labor among them,
and found in each what was of good to himself, and imparted to each the
service that it needed. Such a man is in harmony with the world— moves
easily about, without jar or collision, and in virtue of his contribution to the
universal pease and profit, is honored with the universal homage.
Samuel Budgett, the Successful Merchant, died of dropsy, in the early
part of May, 1851. His death, like his life, was that of a Christian— his
faith and beatific vision equaling in strength and splendor that of the saints
of old. The day of his funeral was a sad day in Kingswood. His late
employees, from the highest to the lowest in grade, gathered to the ceremo­
ny with heavy hearts and countenances overshadowed with a grief impos­
sible to be lent to the mere propriety of the occasion. The whole village
gathered at the gates and followed the remains silently to the church, and
thence to the tomb— and many, many were the tears that dropped as the
frequent remark escaped the lips of humble men and women, “ The best
man in Kingswood is gone to-day.”

Art. V.— PROPERTY AND NATIONAL WEALTH.
To F r e e m a n

H

unt,

Editor of the Merchants' Magazine.

S ir ,— I am not of the fanatical school of misers, who believe, that wealth
ought to govern the world ; but, that it is the Archimedean lever by which
the world may be moved, I have no doubt. Nor do I esteem wealth or ita
possessors, with some agrarian political economists, as necessarily odious.
W ealth or property has a necessary and important position in the interests
and progress of mankind. Its office will be appreciated, by comparing the
conditions of a people where the incidents of property are scarcely known,
with that of a refined and polished nation, where the individual interests of
its various citizens are tangible, and respected. All provisions for the future
wants of life assume the nature of property. Inferior animals, in some cases,
make such provision, and hence become the owners of their stores of food.
But, there are savage men more rude and degraded than these, that have
not taken this first step towards civilization. The natives of New Holland
have scarcely clothing, houses, or even the implements of war or husbandry,
and they are certainly destitute of all the arts of domestic life, and of every
germ of improvement. They pick up a precarious subsistence from the
VOL.

XXVIII.---- N O .




II.

13

194

Property and National Wealth.

spontaneous productions of the earth, and from snails and reptiles with which
they chance to meet.
Beyond this lowest degradation man does not advance a step, without
conceiving of the uses of property, and appropriating the things consistent
with its objects, to his personal advantage. Property, in itself, has no in­
herent moral qualities, nor any necessary individual identity. But, anything
within the power of human acquisition may become property by use, and as
connected with the object of this use, it may give energy to a high moral
influence. The object or purpose of human life being settled in the mind,
anterior to the ways and means of its accomplishment, or to the notion of
property, the object of this acquisition may be, primarily, just, and noble,
and benevolent. The mind that determines to improve itself, and to im­
prove the world, may, consistently with its high and holy purposes, use
property, which is seen to be the necessary incident to all human progress.
Such a mind, according to holy writ, “ uses the things of this world as not*
abusing them.”
It does not pertain to the peculiar merits of property, th at it has been an
essential and indispensable agent, in bringing us men from the rude habits
of the savage in extreme degradation, to an affinity with heavenly existence
— that it has afforded facilities for the development and refinement of intel­
lectual power— that it has surrounded man with a thousand means for his
personal and social comfort and happiness, nor that it has surrounded him
with gratifying evidences of all these improvements, in the towns and cities,
the labors of art, and the useful public works that are scattered over the
world.
For, without human purpose and the movings of the moral energies of
man, the granite mountain would still have hid among its crags the fluted
columns and the massive walls of the magnificent temple— the bricks and
the mortar, that compose the extensive and still extending city, would have
slumbered on in the clay-pit and lime-rock from which they were taken—
the pines and cedars used in finishing the palaces of the wealthy, would
still have been in the wild forests, adding year-circles to their growth for
years to com e; and, instead of decorating the home of man, they would
be affording a domicil among their boughs for the wild forest birds, where
“ the owl would dwell unscared,” and the eagle would find a resting place.
In the absence of the substance of civilization, its spirits and incidents would
also be wanting—the light and the spirit of song would yield dominion to
the brutal passions, the dark cruelties and the bowlings of the savage. For,
man without purpose or enterprise, never yet breathed a tone of eloquence,
nor conceived of any elevated object of his being, above the brutes, whose
example he copies and emulates. Shepherds have lived and fed their flocks,
b ut never one has sung the praises of his own rude life. The genius of
after times and remote lands has associated with their desolate weary life,
the fictions of poetical creations.
Property has its ultimate origin in human necessities; and a knowledge
and appreciation of these necessities are incidents of its accumulation. W e
have said, that it consists not more in things possessed, than in a knowledge
of their adaptation to use. The extent of this knowledge is the ratio of the
value of things held as property.
Hence, we come to the proposition that the real wealth of a nation is in
proportion to the intelligence of its people, whatever may be its physical re­
sources and specific accumulations.




P roperty and National Wealth.

195

Suppose men had never learned the use of iron, of steel, nor the processes
of their manufacture, where would be the value of all the iron that is hid in
the mountains and valleys of the earth 1 The same question may be asked
in respect to every other mineral product. Commerce, that has accumulated
the wealth of so many nations, has come into being with its thousands of
ships and vast capital invested, through the force of intelligent human en­
terprise. It has created itself, with all its vast estates, without impoverishing
any human being. Indeed, the people from whose country it has drawn its
resources, have risen, through its influence, in the scale of civilization, and
actual wealth and comfort. If the knowledge of these comforts and refine­
ments may increase the sum of human necessities, it has also increased the
industry and enterprise to supply them. A value has been given to rocks
and woods; and even the canes of the jungles are in demand ; and hence,
by the mere influence of Commerce have become capital.
The accumulation or rather production of national wealth is not more
striking in Commerce than in domestic enterprise. B ut here, as in Commerce,
intelligence and science give the first movement and progress, and are the
primary principles that guide human pursuit to efficient results. The rail­
roads, that are peculiarly a triumph of science, are to domestic pursuits what
the opening of foreign trade is to Commerce. They bring the demands of
trade home to every farm-house, and to every patch of territory along their
lines. Mineral localities are improved, trees that were formerly consumed
on the land, in clearing up forests, are manufactured into valuable lumber
for what, without the railroad, was a too distant or inaccessible market.
Agricultural products, that formerly were consumed on the farm, or rather
not produced at all, now remunerate the labor of their production, and make
more land to be required for thorough cultivation. And hence the railroad
raises the value of land as an investment, without diminishing the appropri­
ate rewards for its cultivation. The citizen who lately possessed a farm of
two hundred acres that would produce crops of the value of $500 per an­
num, since the railroad has been constructed, turns off four times as many
dollars worth of products as formerly, and requirel four times as much labor,
so that four sons, with fifty acres each, have as profitable farms, worth, each,
as much as their father’s ; procuring, for the same amount of labor on each
farm, as many domestic comforts as the two hundred acres produced formerly.
Let no peevish idler complain of this rise in the value of real estate, as if it were
going to render it more difficult for labor to find its reward, or the poor to ob­
tain a subsistence. Ten afcres may possibly answer better the purpose of reward­
ing the cultivator, than one hundred did half a century ago. A large number
of farmers, within a few years past, in the northern section of Vermont, have
been engaged in raising potatoes for the manufacture of starch, at 1 2 i cents
per bushel. Since the railroad was completed to the interior of the State,
potatoes have sold along its line for half-a-dollar or more, to supply the Lowell
and Boston markets. The consequence is not merely, th at the three thousand
bushels that formerly brought $375, now bring $1,400, and require no more
labor for their production, but thousands of acres of waste lands will now be
cultivated for this and other crops. The young man who complained that
lands were so dear that he could not get a foothold, now finds a motive to
pitch into some swamp or marsh, and by far less labor than would be re­
quired to clear a new farm in the wilderness, he brings the unproductive
wa-te to a high state of cultivation ; draining off the water, and making the
soil beneath, a rich compost bed, that, as it becomes dry, will produce most




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Property and National Wealth.

extraordinary crops. Mountain lands, that were formerly esteemed almost
valueless, promise better returns for their clearing and cultivation, than the
best land without facilities for a market.
This increased value of real estate is not fictitious but intrinsic, for the
State with its new improvements affords a comfortable support for twice as
large a population, and remunerates twice or thrice the amount of actual
labor that it formerly did. The population of a State, and the amount of
its useful industry, are the best criterions to determine its wealth. The ag­
gregate properly of the State has doubled, paying as good interest and re­
munerating, perhaps three times the labor, and yet nobody is made the
poorer, nobody has lost a dollar: thousands are made well off, or are pro­
vided for, and yet at nobody’s expense. Whence has come this increase of
wealth ? It has not been imported from the seaport or foreign countries.
It has been created chiefly on the soil. B ut I need not pursue this thought,
to notice hundreds and thousands of manufactories which spring up in every
section of the country having facilities for transporting goods to the depots
of foreign commerce, along the shores of our country, which, with all their
accumulation, may be shown to have been created, and not accumulated to
the prejudice of any other interests. They not only create themselves, but
produce an industrious and prosperous agricultural community about them.
But, I have cited the railroad, and the incidental improvements in the
country through which it passes, merely to illustrate a principle which ob­
tains in reference to every domestic enterprise or pursuit; and also to show
that the laws which determine the value of property are not arbitrary, but
founded in the nature and relation of things. A thing intrinsically worthless,
as a depreciated or bankrupt paper currency, cannot be made of value by an
act of parliament. Hence, the celebrated aphorism of Mr. Clay, that “ what
the law makes property is property
in the light of philosophy is a fallacy;
though it may be a useful legal convention in reference to the vesting of
private estates and chattels.
W e have seen, that if a nation would seek to increase its wealth, or raise
its condition, the first publfc interest is, the education of its people. Not
the education of a few as mere contrivers and overseers, hut of every man
who has physical strength to devote to labor. For an ignorant workman,
though his work may all be laid out to his hand, will not accomplish half
as much as the intelligent o n e ; and the aggregate labor of millions of
people may be affected twenty, thirty, or fifty per cent, by the state of
general intelligence alone. If any one might suppose, that the State of
Massachusetts would ever sustain from seven hundred thousand to a million
of people, if a majority of them were unable to read or write, he would show
how ignorant he is of the springs, the methods, and means of Massachusetts’
enterprise. The Commerce, the manufactures, and the trade of Massachusetts
— the wealth of the Commonwealth, are the fruits of her schools and semin­
aries.
Though education may be a more remote facility than labor, in the pro­
duction of national wealth, still it may be far more powerful and efficient.
B ut labor cannot be dispensed with. Like land, it is a basis of production,
which intelligence may improve to the greatest possible advantage. It is
the physical force that accomplishes the purposes which intelligence may
have desired.
As connected with the wealth of nations, productive industry requires a
distinctive consideration ; for, beyond its objects and methods th at are regu-




Property and National Wealth.

197

lated by intelligence, the amount of labor that may be performed in a
country, is a matter of vast public interest. If there be four millions of
men in this country who are able to work, at 75 cents a day, they would
earn three millions of dollars a day, and over three hundred millions of dol­
lars in a year. In ten years, the wages of our laboring population would
amount to no less than three thousand millions of dollars, probably enough
to eat up the capital of the whole country, did the labor not actually pro­
duce or create, to a large extent, the means of its own remuneration. To
influence men to the accomplishment of the largest amount of work, is a
question that leads the political economist to an intimate investigation of
the laws and elements of his physical and moral being. B ut without enter­
ing into the details of such an investigation, I will notice but one point in
this connection— that effective labor must be the result of purpose and not
of constraint; that is, it must be free. Sympathies between the mind and
body are a part of man’s existence. His physical energies are in a vast m ul­
titude of circumstances, sustained by the spirit which these sympathies have
infused. Numerous cases have been related of superhuman strength being
put forth, as by miracle, by persons in excitement from danger, fear, or for
. the rescue of persons in peril. But fear of punishment or constraint, are not
the legitimate motives to enlist man to constant physical exertion. By such
constraint, labor becomes odious, and those mental sympathies which stimu­
late to free exertion are lost. Besides, in the strictest system of slavery, the
facilities for constraint cannot be as constant, as the spirit of enterprise,
which becomes a part of a free man’s very existence; and to suppose that an
odious task will be pursued further, or more constant, than the compulsive
power of the master, is preposterous. In apology for the mildness of do­
mestic slavery in a part of this country, it has been stated that three slaves
do not accomplish more labor, than two free laborers in parts of the country
where slavery has not made labor disreputable. Supposing two-thirds as
much is done by the slave, if there be a million of slaves doing full tasks in
this country, their labor weuld amount to fifty cents a day, each, allowing
seventy-five cents for a full free man’s day’s work. The aggregate labor done
by the slaves in the country, on these suppositions, would amount to half a
million of dollars a day, a quarter of a million less than if these slaves were
intelligent freemen. This would amount to a nett loss to the country of
seventy-five millions of dollars a year. B ut the odious character which the
existence of slavery gives to labor, paralyzes the spirit of industry with the
free portion of the population, so that in the slaveholding portions of this
country, the idleness of the nominally free occasions as great a loss to the
country as immediately results from slavery as stated above. The hundred
and fifty millions per annum deficiency of production, in the slave states of
this nation, is estimated on the lowest value of labor, excluding the increase
of this value, which Commerce, new enterprises, and manufactures, in a free
industrial community, might produce.
It is not my purpose to enter into the discussion of slavery in its political
bearings, nor to notice American slavery as a domestic institution, further
than what the facts stated above, which I have gathered from the voluntary
testimony of numerous slaveholders, may show the influence of such an in­
stitution on national wealth.
Though private property to the estimated value of twelve hundred mil­
lions of dollars, may be invested in the slaves of this country, yet, for all
practical purposes of national wealth, three millions of free people, without




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Property and National Wealth.

the prejudice against labor which slavery produces, would be worth twice as
much to the country, and to that portion of the country where slavery now
• exists. B ut the existence of slavery paralyzes the enterprise that would de­
velop resources— in mines, in water-power, in manufactures, and even in
Commerce, of the regions over which it has influence. The value of real
estate alone, in the slaveholding states, is diminished more by the existence
of slavery than all the nominal slave property.
If all the slaves in any slave State were an attachment, in proper propor­
tions to the several freeholds, whose value would be increased by emancipa­
tion ; an act of emancipation, annihilating all the slave property at once,
would make the proprietor the richer man by twenty-five per cent; and five
years would not transpire, before the market value of such lands would il­
lustrate the truth of this assertion. Leaving the political and moral questions
connected with slavery out of the account, and acknowledging that property
vested in slaves is to be protected on the basis of sacred and indefeasible right,
the difficulty of emancipation is, that it would operate to the ruin of those
whose property is invested chiefly in slaves, and make the owners of lands
a great deal richer than they now are. A t the same time, while three slaves
for all practical purposes in the production of wealth are only equal to tw o ,
free persons, the State would be increased in facilities for production of pro­
perty in this proportion, to say nothing of the rise in the value of its lands.
B ut in view of this rise in the value of the soil, an assessment of the nomin­
al value of the slaves on the lands of the State, would be strictly equitable
and a measure of the highest utility to the land-holding interest of a Commonw'ealth. As between free citizen and free citizen, who have sustained a
compact and constitution, that have encouraged the investment of property
in slaves, I am not prepared to admit that such an arrangement would be
immoral. Though 1 cannot conceive that a distant State of our Union,
where slavery never existed, ought to be taxed to procure so beneficial a
change as would accrue to the aggregate interests of the slave State by
emancipation. Yet, the remote interest that would accrue to a free com­
mercial State by such emancipation, might justify some sacrifice on its part
in view of such an interest. If the slave states produced or created a hun­
dred and fifty millions of dollars a year more than they do under slavery,
commercial credit could be rendered much sounder, and the commodities
th at would become the subjects of commercial exchange would be more va­
ried and valuable.
If the calculation made, I think, in 1840, that in forty years, eight hun­
dred millions of dollars of bankrupt debts had been contracted in our com­
mercial cities, by the Southern trade alone, be true, it might be a pertinent
subject of inquiry, as to how much of this loss went to make up for the im­
poverishing influence of slavery ? How great losses have accrued from trade
with the free States the calculation did not tell us. W e are not to suppose
that the southern merchant is a man of less integrity and honor than the north­
ern or western. But if the losses in the southern trade have been greater than
elsewhere, they must be attributed to some inherent evil in the Constitution
of the South as a commercial state. That an evil is found in slavery, ade­
quate to the production of these results, has been shown. Suppose the losses
from slavery, on the principle stated, be averaged at one-third less than I
have shown,— atone hundred millions of dollars a year,— here in forty years,
we have four thousand millions of dollars, deficiency of production, or five




Property and National Wealth.

199

times as much as the commercial bankruptcies ascribed to the southern
trade.
B ut free labor is affected in its results by various circumstances which, as
connected with our subject, deserve consideration. There are moral influ­
ences growing out of the condition of the country that may greatly affect
the aggregate of its productive industry. P arty politics that predicate the
prospects of all industrial enterprise, on the ascendancy of this or that dema­
gogue, have done immense mischief to the interests of national wealth.
Commercial panics are to labor what the plague is to the health and life
of a community, killing thirty with fear where one dies with the disease.
Universal bankruptcy is an evil of less magnitude than universal idleness.
For, we have seen that productive labor can repair the damages and losses
of almost any national misfortunes. But, let labor be neglected, and hunger
will increase to a terrible and most destructive extent. Consumption never
ceases while anything remains to supply human wants ; but, if the tenor of
human pursuits had not have been disturbed, the immediate necessities of
the people would have been provided for, and if the country had have ceased
for a time to advance, the remnant of its resources would have been so well
improved, that the retrograde tendency of things would have been checked.
Again, to give a proper energy to industrial enterprise, the dignity of labor
should be sustained. The franchises of a freeman should be conceded to the
humblest laborer who has not forfeited his right by crime. In the responsi­
bilities of a freeman, he will find the strongest motives to exertion. Besides,
so far as government can, by its action, affect his confidence of a just re­
muneration for his toil, he feels that a remedy is put into his own hands
through the ballot-box. On the merits of the case the laborer is as much
entitled, as any one, to the elective franchise; for, we have seen that the
embryo wealth of a nation is in its industry and enterprise. W ithout human
labor, either present or prospective, there is scarcely any intrinsic value to
anything. The availability of labor for the cultivation and improvement of
a farm, gives the farm its value. W e have seen that the labor of a country,
in two years, probably eats up all other property in its valuation. A regard
to national wealth, then, requires that the laws of the human mind affecting
its purposes to labor, and its spirit of industry, should be attentively and
intimately studied by our civil legislature— that the highest motive to enter­
prise should be made to exert the most extensive and thorough influence.
W hat stronger motive can be adduced than the conscious spirit of freedom ?
W ho would experience more immediately and more severely the evils of a
bad government, than the man who depends for his support on his daily
labor ?
I t matters not whether property be in few or many hands, so far as it
pertains to the commonwealth, provided it be equally available for public
purposes, and, provided, its present accumulation is made to contribute most
to its future increase. B ut it is a question for inquiry, W hether its concen­
tration in a few hands will command the highest exertions of labor, to make
it yield the largest aggregate increase ? While it is known, by pr ictical
experience, that large estates pay a less annual percentage than small ones,
and those whose labor improves them, are not enriched by the deficiency,
the presumption is in favor of small estates. The prayer of Agar, “ Give
me neither poverty nor riches,” was as consistent with the laws of finance as
of morality. The middling interest are not only the most efficient producers
of national wealth, but they can enjoy mo3t fully the rewards of their labor.




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Property and N ational Wealth.

Though a large estate is not, in itself, a public good, yet, if it have stimu­
lated, in its -acquisition, the labor and enterprise of its immediate possessor,
it is, in the light of our subject, scarcely to be considered an evil. Its entailment, without division, among heirs, is a contravention of the law of in­
dustry and of its reward, primarily expressed in the decree, that “ man shall
eat bread by the sweat of his brow ”— it will work a serious injury, by per­
suading a coming generation th at property is a favor of fortune, and not a
reward for exertions.
B ut the security of lawful property, whether it may be in large or small
estates, is a positive duty of the State. The incidental evils of any particular
distribution would be far less mischievous than any uncertainty as to the
tenure of its possession. Though subordinate to this positive security of
property to those who have accumulated it, and to such as may have been
regarded in its accumulation, (such as heirs at law, legatees, &c.,) the legis­
lature ought to pay a primary respect to the producing energies of a nation,
as these are the life-blood that circulates through all the body politic ; for,
where the laws have afforded adequate protection to property, it has usually
needed no other facilities for securing all its legitimate advantages. Nor does
labor require to be patronized by the State so as to destroy its spirit of free­
dom. It can take care of itself, if legislation does not paralyze Commerce,
and destroy the markets for its products, or suffer foreign competition to rob
it of its legitimate stimulus and reward.
From a review of this subject, it will be perceived that the body politic is
an active living body, whose energies and life are in the bones, and sinews,
and spirit of its people—that, for its healthy development, a regard must be
had to all the principles and elements of political economy. It is seen, that
the common maxim, that what one man gets, another man loses, is not in
accordance with experience; hence the odiousness which, in the estimation
of many, attaches to wealth is unjust and unreasonable. The most valuable
and extensive estates are often created where no property, or next to none,
before existed ; and this entirely free from the legerdemain of financial
speculation.
The resources of a country are capable of multiplication and increase, so
that those who will seek their development will never be left with the
grumbler, who spends half his life in idleness, complaining of his want of a
chance to do something for himself or his country. The man that will work
as dictated by an intelligent experience, can live, and, if prudent in expendi­
ture, can accumulate property.
Finally, I observe that the support of free schools and facilities for the
education of a whole people, contribute to the benefit of every class of citi­
zens and of the State at large. Public free schools are not constituted as
some niggardly spirits have asserted, to support pauperism, but to prevent
it. Intelligent laborers, as we have said, can add much more to the capital
employed in a business than those who are ignorant.
j. m . s .




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201

JOURNAL OF M ERCANTILE LAW.

ACTION ON RAILROAD LAW OF NEW YORK STATE.

In the Supreme Court, (State of New York.) July Term, 1852. Hugh White
vs. the Utica and Schenectady Railroad Company, and E. Corning, and others.
The Utica and Schenectady Railroad Company was incorporated in 1833, with
a provision in its charter that “ the Legislature may at any time alter, modify, or
repeal this act;” being further subject to the general restrictions and liabilities
prescribed by the Revised Statutes, that 11the charter of every corporation that
should be granted after the Revised Statutes took effect, should be subject to
alteration, suspension, and repeal, in the discretion of the Legislature.” (1 R. S.
600, Sec. 8.)
In April, 1851, the Legislature passed a law authorizing every railroad corpo­
ration in this State, with the consent of two-thirds in amount of its stockholders,
to loan its credit, or become the owner of stock in the Great Western Railroad
Company in Canada West, to an amount not exceeding 5 per cent of the capi­
tal of the company so subscribing. Under this act the defendants subscribed to
the stock of the Canadian company, more than two-thirds in amount of the
stock-holders having given their assent to the subscription.
The plaintiff, who is also a large stockholder, institutes these proceedings to
test the constitutionality of the act of 1851; and upon a motion to dissolve the
injunction temporarily granted against the defendants, the Court delivered an
opinion, of which the following is an abstract:—
The constitution of 1846 declares that “ no private or local bill shall embrace
more than one subject, and that shall be expressed in the title.” The title of
this act is “ An Act to authorize the Railroad Corporations of this State to sub­
scribe to the capital stock of the Great Western Railroad Company, Canada
West.” It is said that this is a private and local bill, and that it embraces more
than one subject, and that the subject is not expressed in the title.
The act is neither private nor local; a private act is one which relates only to
particular persons or bodies, not one which includes all the persons or bodies of
any one class. One relating to all Jews, or all turnpike companies, is not pri­
vate; but a bill relating to individuals or bodies who are named, and which is
made to operate on them exclusively, and not on all of a class, is private. A
bill may possibly be local, although it affects a whole country ; but it cannot be
so when no localities are selected in the bill to be subject to its operation ; but
the whole State is the theater of its operation. That is local which is for a par­
ticular locality, and with a view to benefit it, particular being understood in con­
tradistinction to general.
It is said that this bill embraces more than one subject, and that all the railroad
companies in this State are the subjects of the bill. The term subject, as used
in the article of the constitution referred to, (as the counsel for plaintiff himself
said,) is equivalent to subjecta materia; this concedes that the term refers to the
subject matter of which the bill treats, not to the persons who are subjects to its
operations. “ No private or local bill shall embrace more than one subject.” The
word “ subject” is here clearly used in the same sense as when we speak of the
subject of a discourse or speech. The term “ embraced,” is peculiarly appropri­
ate to the word in that sense, but not at all so when speaking of persons sub­
jected to a law.
Next it is said that the act of 1851 was void because it was not passed by a
two-third vote. The former constitution did not allow any charter to be created,
continued, altered, or renewed, without a two-third vote; and the plaintiff con­
tends that, as that constitution was in force when the charter of 1833 was granted,




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Journal o f Mercantile Law.

this provision of the constitution became a part of the charter as much as if it
had been made expressly a part of it. This is an artificial mode of reasoning,
very apt to lead to mistakes. When the charter was granted, no reference was
made to the constitution; but it was a fact that then the charter could not be
altered, without a two-thiid vote, simply because such was the requirement of
the constitution then in force; it was a fact not arising out of any contract, ex­
press or implied, but arising from the then form of the constitution, and depend­
ing for its existence and continuance on the continuance of that form. It was
never the meaning of that constitution that a matter merely regulating the mode
of legislation in particular cases should remain or be immutable, when that con­
stitution itself should cease to exist.
The rest of the plaintiff’s argument relates to the construction of the power
reserved by the Legislature, in the Revised Statutes, and in this charter, to alter,
amend, and repeal the charter. In the charter of 1833 it is declared that “ the
Legislature may at any time, alter, modify, or repeal this act,” (sec. 19,) and that
it is subject to the liabilities prescribed by the 18th chapter of the first part of
the R. S. (sec. 14.) One of those, as before stated, is, that this charter
should be subject to alteration, suspension, and repeal, in the discretion of the
Legislature. In February, 1819, the case of the Dartmouth College was decided
by the Supreme Court of the United States, denying the power of the Legisla­
ture to assume to itself, or to prescribe, another mode of selecting the trustees
of the college than that prescribed in the charter granted by the king, or to alter
the charter in other respects.
This decision evidently startled our Legislature, for while they submitted to it
as coming from the highest tribunal that could pass on such a question, so far as
previous charters were concerned, they began in 1820 and 1821, and from that
time habitually, to insert in new charters the power of altering, modifying, and
repealing them. The Legislature meant to frustrate the effect of that decision
as to all subsequent charters into which this clause should be introduced. This
became so much the settled policy of the State, that when our laws were revised
in 1829 and 1830, this power of alteration, suspension and repeal was expressly
made a general one as to subsequent corporations, so as to be effectual, even if
it should not be inserted in the act of incorporation ; and although the revisers
excepted from its operation religious, literary, and charitable societies, the Legis­
lature was so jealous of its power that it struck out the exception. (See Revi­
ser’s notes, 2d ed., p. 11, ch. 18, tit. 3, 5 8.
What then was the extent of the power thus reserved ? The decision of the
Supreme Court was founded on the idea, that in the Dartmouth College ease the
alterations made bv the Legislature of New Hampshire violated the contract be­
tween the sovereign and the college, as contained in the charter. The Legisla­
ture inserted this clause to frustrate or obviate that decision; that is, to enable
the Legislature to do with subsequent corporations even what the courts would
have declared to be a violation of the contract between the people and the cor­
poration. If the object were anything short of this, the clause was useless and
the precaution idle; for the decision interfered with no regulation or legislation
that did not impair a contract or its obligation. Nothing in that decision inter­
fered in the least, or was ever supposed to interfere, with mere police regulations,
or with general legislation affecting all colleges, in matters not already controlled
by their charter.
The Legislature must, therefore, have intended to reserve the power even of
doing that which, but for the reservation, would have been a violation of the con­
tract; and that every contract, express or implied, contained in the charter, was
to be subject to the power of the Legislature. This gives, or rather retains, to
the Legislature the unlimited power over the objects of its creation, which the
British Parliament is said to possess as fully as our Legislature possessed the
control before any act of incorporation was passed. The company takes the
charter, and the stockholders subscribe, with the full knowledge of the reserva­
tion of this power, and of its forming a limitation on every contract which they
can set up under the charter. Nor is any limitation imposed on this reservation;




Journal o f Mercantile Law.

203

it i8 to alter, suspend, or repeal, in the discretion of the Legislature. (R. S.
600, \ 8.)
It is avowed to be an arbitrary power—one in which no court can interfere, no
party can successfully object, except by appealing in due time to the discretion of
the power to whose authority he has thus subjected himself; for it is to be exer­
cised in the discretion of the Legislature. It is useless, therefore, to argue that
if this clause were not in the Revised Statutes, or in the charter, there would be
a contract between the people and the company, and also with the stockholders,
that the railroad shall be made from Schenectady to Utica, and that its funds
shall be applied to no other purpose. The answer of the State is—Non in hcec
fadera veni: The only contract I made with you was, that I would give that
charter, with the power in me to alter or repeal it, as my discretion might
dictate.
Neither in the charter nor in the general law has the Legislature set any bounds
to its power of alteration. Why then, should the judiciary attempt to set bounds
to that power? The judiciary is not established to prevent abuses of the legistive power, nor an indiscreet use of i t ; but simply to pronounce the true mean­
ing of any law constitutionally passed; and this is peculiarly the case when the
Legislature has reserved a power to be used in its discretion, and to be employed
even in cases in which the courts would have pronounced this act a violation of
contract if the power had not been reserved. It is said it never could have been
the intention of this clause to enable the Legislature to authorize or compel sub­
scription to a foreign corporation. ■ The answer to this is, that the Legislature
knew that it could not foresee all the cases in which this power would bo exer­
cised, and therefore reserved it intentionally, without any limit, and must be al­
lowed so to use it. And they have done so wisely.
On the grounds above stated, the injunction granted in this cause should be
dissolved, the costs to abide the event.

POLICIES OF INSURANCE.

F reeman H unt, Editor o f the Merchants' Magazine, etc. ;—
St . L o u is , Dec. 22, 1852.

D ear S ir : I inclose you reports of two cases decided in the St. Louis Circuit

Court, upon Policies of Insurance. The points decided seem to be of some inte­
rest as involving questions of commercial law. Respectfully yours, &c.
CHARLES WHITTLESEY, Attorney-at-Law.

In the Circuit Court, St. Louis, Missouri, September, 1852; before Judge
Hamilton. Columbus Insurance Company vs. J. and E. Walsh.
This was a suit for the reclamation of moneys paid by plaintiff on a loss on
the steamboat Marshal Ney, one-fourth of which the defendants had insured
with the plaintiff. This policy was issued February 15, 1849, for four months’
on $6,000, being four-fifihs of one-fourth of the value of the boat. The policy
was extended by renewal to the 19th November, 1842, and while thus insured
the boat was totally destroyed by fire, at New Orleans, and the loss paid by the
plaintiff to the defendants. The policy contained the following clause prohibit­
ing double insurance :—
“ It is further agreed that this policy shall become void if any other insurance
be made upon said steamboat, which together with this insurance shall exceed
$6,000, the same being four-fifths of the agreed valuation of one-fourth of said
boat, or upon any assignment of this policy, unless the consent of the Company
thereto be obtained and indorsed thereon.”
The petition set forth the policy, the prohibitive clause, the payment of the loss
to defendants, and then set forth that previous to the loss, on the 24th February,




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Journal o f Mercantile Law.

1849, the defendants had taken out a policy, No. 50, in the Tennessee Fire and
Marine Insurance Company, in which they caused themselves to be insured in the
sum of $4,500, on one-fifth of three-fourths the steamboat Marshal Ney, valuing
said three-fourths at $23,500, and in the same policy acknowledging prior insur­
ance to the amount of $18,000 in other offices. On the 28th November, 1849,
the plaintiff paid the loss to the defendant. The petition further alleged, that at
the time of the adjustment and payment of the loss, they were ignorant of the
insurance taken out in the Tennessee F. and M. Ins. Co., and that if this fact had
been known the money would not have been paid, as by said insurance the pol­
icy issued by plaintiff had become void, and the plaintiff therefore asked judg­
ment for the amount paid upon the adjustment, with interest from the date it
was paid.
The answer denied that the policy, No. 50, in the Tennessee Marine and Fire
Insurance Company, covered the same interest as that described in the policy is­
sued by plaintiff, but was upon the remaining two-fourths, that the defendants
acted merely as agents for the Bank of the State of Missouri, they holding the
legal right for the bank, and that the amount received had been paid to the bank
before the commencement of the suit, and further alleged that the plaintiffs had
not complied with the requirements of the statutes of 1845, which require that
the agents of all foreign companies doing business in the State “ should file cop­
ies of the charter, and the power of attorney under which the agents acted, &c.
The act provides a penalty of $500 against any agent who shall do any business
without complying with the. provisions of the act. The defendant contended
that the plaintiff’s agent not having complied with the statute, that the Company
could not maintain any action on a policy or contract, or for reclamation of mon­
eys paid upon a policy. The court decided otherwise, holding that the penalty
inflicted by statute was the only penalty to be imposed; and that the plaintiffs
had not lost their right of action by failing to comply with the statute.
The court further instructed the jury that the policy issued by the plaintiffs,
forbid any further insurance upon the one-fuurth insured unless the same was
done with the assent of the Columbus Insurance Company; that policy No. 50,
in the Tennessee Marine and Fire Insurance Company, was an insurance on the
one-fourth insured with the plaintiffs, unless the defendants were the owners of
more than three-fourths, and consequently that the policy issued by plaintiffs be­
came void, and that the plaintiffs were entitled to recover back the money paid
upon the same, if it had been paid by mistake in ignorance of the insurance sub­
sequently taken out in the Tennessee Fire and Marine Insurance Company, with
interest upon the amount paid, from the date of payment; that if in transactions
between the parties, the defendants had dealt as if principals with the plaintiffs,
without making it known that the defendants acted for the bank, then the plain­
tiff had the right still to treat them as principals and to hold them responsible in
this suit.
The jury found a verdict for plaintiff for $6,002 57.
In the Circuit Court, St. Louis, Missouri, September, 1852; before Judge
Hamilton. James Lawless us. Tennessee Marine and Fire Insurance Company.
This was an action upon a policy of insurance dated March, 1850, by which
the defendants caused the plaintiffs to be insured, for one year, for the sum of
$1,000, “ on brick warehouse on Water-street, between Morgan and Green streets
in block 15, St. Louis, to be occupied as three stores but not as coffee-houses.”
The property was destroyed by fire in October, 1850, during the existence of
the policy. The defendants admitted the execution of the policy, the destruction
of the property, and the proofs of the loss, but set up as a defence, that before
and at the time of the fire one of the tenements was occupied as a coffee-house,
and that another was occupied as a rectifying establishment and for distilling cor­
dials, in which business fire heat was used. Upon the trial of the cause, the de­
fendant proved that previous to and at the time of the fire, one of the tenements
was occupied by Philip Rock as a coffee-house, although the fire originated in
the next tenement used for rectifying spirits, and not in the coffee-house; and




Journal o f Mercantile Law.

205

thereupon prayed the court, to instruct the jury, that if previous to and at tho
time of the fire one of the tenements was used as a coffee-house, then the jury
must find for the defendant—contending that the words used in the policy wero
equivalent to a warranty that the property should not be used as a coffee-house
during the existence of the policy, and consequently that it mattered not whether
the plaintiff was cognizant of the use of the property or not.
The plaintiff’s counsel contended that the words used in the policy were mere
words of description, and showed merely the intended use of the property, but
did not amount to a warranty that the use of the property should not be chan­
ged, nor that a coffee-house should not be kept in them.
The court sustained the construction contended for by the defendants, holding
that the words “ not to be used for coffee-houses” were equivalent to a warranty
that the premises should not be used for that purpose, and that although as a
general rule the words of description in a policy would not be considered as
words of warranty, yet the use of the negative words “ not to be used” left no
room for that construction; that that particular use of the premises was intended
to be forbidden by the policy, and that those words must be construed as words of
warranty.
The court therefore gave the instruction asked by the defendant’s counsel, and
the jury found a verdict for defendant.
INSURANCE CASE IN MONTREAL.

McPherson et al. vs. the Montreal Insurance Company.
This case, says the Montreal Gazette, was tried before Mr. Justice Smith and a
special jury, and occupied the Court during three days, and as it is one involving
important points of law, which are somewhat novel, not only here but everywhere
else, we have made a brief synopsis of it.
In the spring of 1850, the steamer Comet was sunk in the harbor of Oswego,
whereby some seven or eight persons lost their lives.
That accident gave rise to the present action—the plaintiffs, the owners of the
ill-fated steamer, suing the Montreal Insurance Company, in which she was par­
tially insured, for something over £3,000, their proportion of the loss.
This action the defendants contested upon the ground, that if the steamer was
insured at all by them, it was upon the express condition to be found in all their
policies, that they would not be liable for losses occasioned by the bursting of
boilers, or breaking of machinery, except when caused by tho perils of navigation.
The evidence showed that the parties had conducted their business in so much good
faith that their liberality amounted almost, if not quite, to negligence. An account
current wTas kept, and the plaintiffs did not require policies upon the vessels in­
sured. In the present instance they produced a printed document, which they
called a policy, and which did not contain the important exception, but tho de­
fendants contended that this was a mere scrip, or memorandum that the Comet
and other vessels therein named were to be insured, and the document appeared
upon the face of it to be a goods’ policy, and altogether inapplicable to insurance
on vessels. The insurance, therefore, must be supposed to have been upon the
terms on which the company were accustomed to insure vessels, and the plaintiffs
must be supposed to know those terms, for any other doctrine would destroy all
contracts. Such was the law laid down by the learned Judge. The question
then was, was the accident in question caused by the perils of navigation ?
The steamer had been lying for some hours at the wharf, discharging a part of
her cargo. She had her stern line out, and was in the act of swinging round
when the explosion took place, and she sank alongside the wharf, and in sight
of many witnesses.
There was some contradictory evidence as to the state of the weather, and
also as to whether she careened in turning; but the weight of evidence went to
show that the weather was calm, and that if she careened at all, it must have been
almost imperceptibly. The immediate cause of the explosion was the sudden
formation of gas, caused by a deficiency of water in the boiler, which deficiency
would have been more dangerous if the boat careened.




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Journal o f Mercantile Law.

The learned Judge, in summing up, read numerous authorities, showing what,
in law, were perils of navigation, all of which went to establish that they were
only those extraordinary and overwhelming dangers which baffle human skill and
man’s resources. Hence, even assuming that the boat did careen, unless they
were satisfied that the careening was something more than the boats navigating
the lakes are constantly exposed to, their verdict should be in favor of the defend­
ants. He remarked that supposing for a moment the insurance had been effected
without the exception spoken of, the case might still admit of great doubt. In
the absence of a settled jurisprudence in regard to inland marine insurance, we
must go to the well-known principles of marine insurance for rules to guide us.
Seaworthiness was a sine qua non, and it appeared to him that it was consistent
with reason that this should not have relation exclusively to the time when the
vessel was insured, but that, in the case of steamers plying as the Comet was
doing, every trip was a distinct voyage, and she must be seaworthy at its com­
mencement. But this was a question yet to be settled. In this view of the case,
was the Comet seaworthy when leaving the wharf at Oswego? Very different
and conflicting opinions had been given as to the sufficiency of her boilers; but,
leaving this out of the question, and supposing them fit for use, there was yet a
difficulty. A steamer, to be in working condition, or in other words, to bo sea­
worthy as a steamer, requires a certain quantity of water in her boilers. Now,
had the Comet a sufficient supply for ordinary purposes at the time of her explo­
sion ? These were important questions, but they would not probably arise in the
present case, as there appeared to him to be abundant evidence that the contract
was such as represented by the defendants, and the real question which would
probably occupy their attention was, whether the explosion was caused by the
perils of navigation ? Verdict for defendants.
ACTION TO RECOVER VALUE OF GOODS OBTAINED UPON FRAUDULENT REPRESEN­
TATIONS.

In the Supreme Court (City of New York,) May 19th, 1852, David II. Gregory
and George B. Forte against Elias Bernheimer.
In this action the plaintiffs seek to recover the value of goods obtained from
them by defendant upon fraudulent representations.
It appeared in evidence, that Bernheimer called upon the plaintiffs in August,
1851, to make some purchases, and, upon their inquiry, he represented that he
was worth $8,000 above all his debts, that he owed nothing for borrowed money,
that he was doing a flourishing business, and that there was no incumbrance on
his property; together with other statements satisfactory to the plaintiffs, all of
which were listened to by a clerk in their store, and written down at the time.
The goods were then sold to defendant upon credit, and in October following,
defendant failed in business and made an assignment of his property.
The court charged the jury. The plaintiffs claim that they have been cheated
out of the goods, and wish to recover the goods or their value. You must first
determine whether defendant made the statements as detailed; the eaves-dropping
may have been right in the circumstances of the case, still it is for you to say
whether this should impair the testimony. If the representations were made, you
will then find whether they were false; and here the plaintiffs rely upon the fail­
ure and assignment shortly after, when it is disclosed the defendant could pay
only 40 cents on the dollar on his business debts. This of itself does not prove
that he was insolvent on the 1st of August; you must determine, from all the
circumstances, whether his indebteduess existed prior to the purchase. The next
question will be, whether defendant was so little informed of the state of his af­
fairs, as to suppose that his representations were true; of this you are the judges
from the facts in the case. Finally, did the plaintiffs dispose of the goods, rely­
ing upon these statements. It does not appear that the plaintiffs were previously
acquainted with defendant, or that they had other means of ascertaining in regard
to him. If, then, the statements were untrue, and defendant knew their falsity,
and plaintiffs parted with their goods on the strength of these statements, the
plaintiffs are entitled to recove r.
Verdict for plaintiffs, $709 30.




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207

CLAIM FOR ALLEGED LOSS SUSTAINED ON A PURCHASE OF LARD.

Decision of the New Orleans Chamber of Commerce. N. R. Harback vs.
Kennett & Dix. Before the Committee of Arbitration—present, C. W. Philips,
E. H, Pomeroy, J. M. Savage, R. B. Sumner, and P. H. Skipwith. New Orleans,
June 4, 1850.
The plaintiff in this case claims of the defendants 1216 37, being, as he alleges,
loss sustained by him on a purchase from defendants of eighty barrels of lard, in
consequence “ of bungling and imperfect construction of said barrels,” whereby,
there was a greater actual tare than that allowed, (18 per cent,) and a leakage,
as proved by the weight when sold, of 1,725 lbs.
It appears in evidence, that the plaintiff received the lard from defendants May
22d, 1849, shipped it to Boston and sold it September 7th, 1849, statement of
loss weight, etc., was made to him by Wm. Thwing & Co., January 9th, 1850,
that the empty barrels weighed 5,375" lbs., averaging about 67 pounds each, that
the difference between the actual tare, and the tare agreed upon, 18 per cent, was
1,681 lbs., and the loss in the weight of the lard, as proved by the weight in
Boston, was 1,725 pounds.
It also appeared in evidence, that this lard was put up in what were called in
the trade, country packages, that such barrels are usually clumsily and unskillfully
made, frequently weighing here 62 lbs. each, and that lard, when put up in such
packages, does not sell for as much as when put up in pork-house barrels, as the
better kind of packages is called, many parties altogether refusing to buy lard
put up in country barrels, and others, when buying in such barrels taking it at a
price equal to half a cent per pound less than they would give for the same arti­
cle in pork-house barrels, that tare allowed at that time varied from 16 a 18 per
cent, that the per cent of tare agreed upon was conventional and was not guaran­
tied, nor even expected, to be equal to the actual tare; that the weight of a lard
barrel in Liverpool would necessarily be much greater than it was here, on account
of its being more thoroughly saturated with lard; that the leakage of lard bar­
rels, when shipped from this port in the summer season, is necessarily very
great, even in the most perfect packages; that the difference in appearance be­
tween country barrels and pork-house barrels is so great, that no person at all
conversant in the trade, can mistake the one for the other; that the condition and
kind of packages, as well as the per centage of tare allowed were quite as much
elements of the price agreed upon, as the quality of the lard.
The committee can see no shadow of claim for reclamation on account of
leakage—if the plaintiff bought and received barrels in bad order, he of course
paid a corresponding price, but there is no proof that the barrels were in bad
order when received—neither do the committee think that he has any claim for
extra tare; he must have been aware when he bought the lard, that it was put
up in country barrels, of “ bungling construction,” varying very much in the ac­
tual tare, and of consequence a corresponding price. The committee therefore
unanimously, award
That the claim of the plaintiff be dismissed, he paying the cost of the arbitra­
tion.
ACTION ON A PROMISSORY NOTE.

In the Superior Court, (city of New York,) April 20th, 1852. Before Judge
Paine. Wm. Turner against Thomas B. Asten and others.
This was an action on a promissory note, brought by the payee against the
defendants, who were alleged to be the makers. The original note, for which the
note in question was substituted, was executed November, 1850, by Asten,
Sparks & Co., payable five months from date, for advances made by plaintiff to
the firm. Before the maturity of this note, the old firm was dissolved, two of
the partners entering, with others, into a new partnership, under the style of E.
C. King & Co. It was averred by plaintiff that the note in suit was a renewal
of the former note by the new firm, though made under the name of Asten,
Sparks & Co. The defendants, comprising the firm of E. C. King & Co., are
sought to be made liable.




208

Journal o f Mercantile Law.

The Court charge the jury:—
There is no law by which, when a change takes place in a partnership, the new
concern shall be bound to pay the debts of the old concern, in the absence of any
agreement to that effect. Still, it is a common thing for the new firm to agree to
pay the old debts, in consideration of receiving the property, and, in some cases,
also to issue notes for the debts of the old concern. It is true, also, that a part­
ner coming into a partnership may, in this way, expressly agree to become liable
to pay a debt of the old firm. In the present case, no such provision is made in
the articles of copartnership. The plaintiff must show that there was such an
agreement, in order to recover. The question for you to consider is, whether the
evidence on the part of the new partners shows that they would pay this note.
If each and all of the members of the new firm, comprising the defendants in
this action, did not distinctly make such agreement, they will not be liable.
Verdict for defendants.
ACTION ON A PROMISSORY NOTE.

In New York Court of Common Pleas, February 4, 1852. John A. Dapont
vs. Jonah Payton.
This was an action on a promissory note made by defendant to the order of
plaintiff, dated July 23, 1852, at Sacramento City, California, for eight hundred
dollars.
The defence is, that the note in question was given on the purchase of a let
in Ninth-street in this city; that at the making of the note the parties were in
California; that plaintiff agreed to sell the lot to defendant, and convey mort­
gage deed to him as soon as defendant should arrive in this city; that at the
time of the making said note, and as an inducement to the purchase, plaintiff
represented to defendant that the lot in question was worth $3,000, and at a
late auction sale in this city, there was $2,750 bid for it; that defendant had no
knowledge in the premises.
That after four months delay, he received the deed, and after its delivery ascer­
tained the lot was not, at time of the agreement, nor since, worth more than
$2,500; that no Iona,fide bid of $2,750 was made for the lo t; that he had suffered
$1,000 damage in the transaction, which he claimed to recover out of any dam­
ages the plaintiff might recover on the note.
The plaintiff insisted in reply that he made no representation as to the value
of the lot other than his belief it was worth $3,000, and that a bona fide bid of
$2,750 was made for this property.
Testimony was taken—defendant was unable to prove the representation as
to value, as alleged in his amount, but the plaintiff admitted by his reply that he
made a representation as to the bid. The court held that the defendant must
give some proof that no sucli bid had been made—whereupon defendant proved
that a bid of $2,800 had been made by the plaintiff’s attorney, then in this city,
and gave some evidence that the property was not worth over $2,000.
The plaintiff proved by his attorney, Mr. Wilkins, that a stranger did bid the
sum of $2,750 for the lot, but that he bid $2,800 to prevent it being sold at a
sacrifice; he (the attorney) considered it worth over $3,000.
The Court then allowed defendant’s attorney to prove by A. J. Bleecker, that
the property was worth but $2,000, to which decision defendant’s counsel ex­
cepted, on the ground that the question at issue was whether above-named bid
of $2,750 was made or not.
The Court allowed Mr. Bleecker’s testimony to be taken, who testified the lot
was worth only from $2,000 to $2,200.
Mr. Shaffer again insisted the only question was whether a bona fide bid of
$2,750 had been made or not. The Court sustained this view of the case, and
struck out the testimony of Mr. Bleecker, and submitted the case to the jury on
the question whether there had been such bona fide bid or not.
The jury found for plaintiff—verdict $857 55, the full amount of principle and
interest.




Journal o f Mercantile Law.

209

DISCHARGE OF A DEBTOR IN SOUTH CAROLINA INEFFECTUAL AGAINST A DEBTOR
LIVING IN NEW YORK, ETC.

I d the C o u rt o f Appeals, (S ta te o f N ew Y ork,) Decem ber 30, 1852. T erence
D onnelly, survivor, & c., respondent, vs. Jam es C orbett, & c., appelant.
T h e plaintiff, residing in the city o f N ew York, sold goods at th a t city to
C orbett, a citizen of S outh Carolina, and received in paym ent therefor the note
o f the purchaser, payable a t Charleston, in the: la tte r S tate. A fter the note be­
came due, the plaintiff prosecuted the sam e to judgm ent, in one o f the State
courts o f South Carolina, and the defendant w as im prisoned under execution
upon the judgm ent. W hile so im prisoned, the defendant applied to the court
for, and subsequently obtained, a discharge from im prisonm ent and from the debt,
under insolvent law s o f th a t S tate which were in force when the debt was con­
tracted. A fter such discharge, the plaintiff caused goods o f the defendant to be
attached in the city o f N ew York, on account of th at debt, by virtue o f a w ar­
rant, the application for which stated th a t the defendant C o rb ett w as indebted to
the plaintiff in the sum o f $1,520 9 5 ; “ th at such dem and arose upon a ju d g ­
m ent w hich the applicant had been inform ed was obtained in or a bout the year
1843,” &c. T he defendant gave a bond to obtain a discharge o f the goods, and
on th a t bond this su it w as b ro u g h t; which w as defended on the g rounds th a t
the discharge in S outh Carolina cancelled the d e b t; and th a t the application for
the w arrant only stated the indebtedness on inform ation and belief, and w as
therefore insufficient.
Held, th at the discharge in S outh Carolina w as ineffectual against a creditor
living in this State.
T h a t the plaintiff by proceeding in the courts o f S outh C arolina to enforce
the paym ent o f his debt, did not becom e bound by the insolvent law s o f th a t
State, providing for its discharge w ithout paym ent.
T h a t by im prisoning the debtor under the S ta te law s, the plaintiff became
bound by all law s o f the S tate affecting that remedy, b u t n o t by those im pairing
the obligation o f the contact.
T h a t the indebtedness w as w ell stated in the application for the w arrant.
T h a t the inform ation and belief related to th e date o f the judgm ent, n o t to its
existence, or to the fact o f indebtedness.

ASSIGNMENT OF FROFERTY IN TRUST FOR BENEFIT OF CREDITORS.

In the C o u rt o f A ppeals, (S ta te o f N ew Y ork,) E . D arvin Litchfield and
others, respondents, vs. R o b e rt H . W h ite and others, appellants.
T h is action w as com m enced by ju d g m en t creditors o f R o b ert H . W h ite , to
set aside, as fraudulent and void, an assignm ent o f his property m ade by W hite
to th e defendant L eonard, in tru s t for the benefit o f his creditors. T h e assign­
m e n t, which w as set forth in the com plaint, w as executed by both the, parties to
it, and provided that the tru ste e should retain out o f the trust-funds his expen­
ses, “ and a reasonable com pensation for his services in execution o f the tru st.”
T he tru stee covenanted “ to execute the tru st to the b e st o f his ability,” and it
w as m utually covenanted “ th a t the tru stee should n o t be accountable for any
loss th a t m ight be sustained, o f the tru st property or the proceeds thereof, un­
less the sam e should happen by reason of his men gross negligence or icilful m i s ­
fe a s a n c e ."

Held, th a t th e assignm ent w as void.
T h a t the covenant o f the tru stee to execute the tru s t to the b e st o f his ability,
w as qualified by the subsequent clause, discharging him from liability for losses,
not occasioned by gross negligence or w ilful m isfeasance.
T h a t the failing debtor could not rightfully w ithdraw his property from the
reach o f legal process, and discharge the holder o f it from th a t degree o f dili­
gence, viz : ordinary diligence, which the law requires from its officers in the
execution o f such process.
VOL. XXVIII.----NO. II.




14

Commercial Chronicle and Review.

210

COMMERCIAL CHRONICLE AND R EV IEW .
T H E P A S T A ND T H E

F U T U R E — SUPP LY

OF

MONEY T H R O U G H O U T

TIONS CH ECK ED — D E SIR E FO R PERM A N EN T
L E N T BANKIN G— CONDITION OF T H E

INVESTMENTS

THE

CO U N TRY — R A S H SP E C U L A ­

IN C R E A S E D — IL LEG A L

AND

FR A U D U ­

N E W Y O R K C I T Y B AN K S C O M P A R E D W I T H T H O S E OF B O S T O N ,

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

1852—G E N E R A L

W ITH

FU LL S T A T I S T I C A L T A B L E S , EM BRA CIN G

R E V I E W OF T H E

R E C E I P T S FOR CUSTOMS, E T C . — DESTIN A TIO N
CLEA RA N CES OF PRO D U CE— E F F E C T

OF

COMMERCE

CO M M ERCIA L
A
OF

MONTHLY
THE

IN CREA SE D

OF

THE

TRA NSA CT IO NS

U N I T E D S T A T E S FO R T H E
AT

N E W Y O RK FO R

1852»

T A B L E OF T H E I M P O R T S , E X P O R T 8 ,

SHIPMENTS

O F D O M E S T I C C O T T O N S , AND

P RO D U CTIO N OF GOLD UPON COMMERC E.

I n our last we referred to som e o f the financial changes which had taken
place during the year 1852, and in the presen t num ber we give, a little farther
on, the m ost com plete statistical tables ever com piled concerning the Commerce
o f this country, fully confirm ing our form er statem en ts. D uring the m onth
now closing, there has been little to indicate the course o f the fu tu re. M oney
has been in good request, as w ell for the uses o f legitim ate b usiness as for spec­
ulative pu rp o ses; b u t this dem and has been fully m et, w ithout any advance be­
yond the rates o f legal interest, and w ith o u t causing either scarcity or pressure
in financial circles.
Jobbers, doing business in the large com m ercial tow ns,
have been less dependent upon borrow ed capital than usual, their custom ers
thro u g h o u t the interior having m et their paym ents w ith unw onted prom ptness.
T h e large sum s expended to open channels o f com m unication w ith every p a rt
o f the country, joined to the receipts for produce a t the presen t com paratively
high prices for nearly all the g reat staples, both N orth and S outh, nave supplied
a steady stream of circulation, which has enriched th e rem otest points o f dis­
tribution, and returned the tide to the g re at comm ercial centers. Still, the rage
for wild projects, and uncertain, adventurous speculations, has received a check,
and projects o f doubtful utility find less favor than they did during a portion o f
la st year. T here is m ore inquiry for perm anent investm ents from capitalists,
who, having m ade th eir fortunes d uring the la st few seasons o f sunshine, are
desirous o f placing them as far as possible beyond the risk o f fu tu re storm s.
I t is this desire for investm ent, rather than any fever o f speculation, which has
caused a considerable advance in the value o f alm ost every species o f property
th a t has the character o f perm anency. It is tru e th a t this advance has been ac­
com panied by an upw ard tendency in the nom inal value o f property, (if p r o p e r t y
it can be called,) which is Hot sought for the purposes o f perm anent investm ent.
B u t it m ust be rem em bered th a t the same genial influences which give a luxu­
rious grow th to the w heat ripen also the chaff"; and it is therefore to be expect­
ed th a t unsubstantial schem es will flourish in a tim e o f general prosperity.
W h a t m ay arise in the course o f the next few m onths to create a stringency in
th e m oney m arket, it is o f course im possible to p re d ic t; b u t present appear­
ances w ould indicate a gradual retu rn to the low est rates o f last year.
W e noticed in our last issue the rapid increase in the num ber o f new banks,
some o f which, as w e adm itted, have been started by capitalists to m eet the
w ants o f the com m unity, b u t others (and a large m ajority) either by borrow ers
or speculators, for their personal benefit. Since our rem arks w ere published,




Commercial Chronicle and Review.

211

another evil connected with the same subject, to w hich reference w as form erly
m ade, has increased in m agnitude, and calls for further n ijUce. W e allude to
the issue o f unauthorized bank notes, for w hose paym ent there is no sufficient
security. I f a portion o f the legal banking, now carried on in the country, be
b u t a regular system o f sw indling under the form s of law, w hat shall be said
o f the shinplaster issues which are th ru st upon the com m unity w ithout shadow
ot law, and in some o f the S tates against express legislative enactm ents ? T h is
gam e was carried on for a while in the D istrict o f Colum bia, b u t the w orst o f
the establishm ents have been broken up, and a m ajority o f the re st are dragging
out a m iserable existence, soon to be term inated, we tru st, by act o f C ongress.
In Indiana, Illinois, and W isconsin, G eneral B anking L aw s have been passed,
under which m any regular institutions have sprung into existence, w hose notes
are thought to be well secured. U nder the shadow of these new banks, a large
batch of private shinplasters have been issued to the am ount o f betw een one
and tw o m illions o f dollars, which at presen t find a ready circulation th roughout
the interior. I t is difficult to believe that these notes will all- be redeem ed, and
th u s an explosion m ust come sooner or later.
N earer the A tlantic coast, fractional bills have been issued by individuals and
firms doing business which requires a large am ount o f small change, for the p u r­
pose o f supplying the w ant o f silver coin. T h e object o f these issues is less
selfish than th a t noticed above, b u t they are alike illegal, and their currency
should be discountenanced. It is to be hoped th a t C ongress will soon pass a
law reducing the w eight o f silver coin, so th a t sufficient can be coined, even a t
the present price o f bullion, to supply the w ants o f the public.
T h e bank returns, w hich have been made from the different p a rts o f the U nion,
show less expansion than w as expected, T he banks o f New Y ork have pub­
lished their quarterly statem ents in obedience to a requisition from the Bank D e­
partm ent, show ing their condition on the 25th o f D ecem ber. W e have com piled
a sum m ary o f the retu rn s o f the 44 city banks, which will not vary m uch from
the official tables n o t y e t com pleted, and annex a com parison with the previous
quarter.
C O N D ITIO N O F T H E N E W

Y O R K C IT Y BANKS AT T U B D A T ES S P E C IF IE D .
R E SO U R C ES .

41 Banks.
Sept. 4, 1852.

Loans and discounts except to directors and brokers....
Loans and discounts to directors.........................................
All other liabilities of directors*.......................................
All sums due from brokers...................................................
Real E state.............................................................................
Bonds and M ortgages..........................................................
S to c k s................................ ....................................................
Promissory notes other than for loans and discounts...
Loan and expense acco u n t.................................................
Overdrafts...............................................................................
Specie.......................................................................................
Cash Ite m s .............................................................................
Bills of other banks...............................................................
Due from solvent banks.............................. .........................
Due from suspended banks.................................. ..............

44 Banks.
Dee. 25, 1852.

$79,039,394
3,909,444
518,417
5,866,626
2,702,410
248,611
5,245,243
45,961
404,949
43,589
8,702,895
11,866,284
1,195,842
13,179

$78,400,159
3,771,962
479,537
4,939,433
2,805,109
290,038
5,921,648
22,324
484,380
53,571
10,355,976
19,442,634
1,240,784
4,182,586
10,167

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

$123,497,212

$131,358,793

4,216,743

* This item and some portions of otherB, are not included in the total.




Commercial Chronicle and Review.

212

L IA B IL IT IE S .

41 Banks.
Sept. 4, 1852.

C apital...............................
Profits..................................
Circulation not registered.
Circulation registered.......
Due State Treasurer.___
Due depositors.................
Due individuals, etc.........
Due to banks on demand..
Due to banks on credit . .
Due to all others...............
Total liabilities

44 Banks.
Dec. 25. 1852.

$36,791,750
5,464,511
256,834
8,421,830
187,199
49,608,801
607,611
20,884,620
' 911,983
332,020

$38,174,950
6,281,357
257,709
8,836,774
401,738
55,731,638
722,771
20,719,010
168,100
375,677

$123,497,212

$131,358,793

It w ill be seen th a t we have included three new hanks in the la st returns, and
there are already f i v e or more, in addition, ju s t com m encing operations. T he
capital, as show n above, has increased $1,380,000, the loans and discounts have
deereased $1,700,000, the specie has increased $1,653,000, the circulation
$817,000, and the deposits $6,000,000.
T h e follow ing com parison o f the leading features o f th e h an k m ovem ents at
several different points o f the Union, w ill h e found o f in te re s t:—
Capital.

Specie.

Circulation. Loans & Dis.

Deposits.

New York C ity........... $38,174,950 $10,355,976 $9,094,483 $87,111,554 $55,781,638
Boston........................... 24,660,000
2,784,792 8,304,591 44,109,363 10,293,087
Philadelphia................. 10,650,000
5,458,888 4,979,700 25,455,440 15,550,374
7,291,415
2,991,910 3,328,058 14,291,221 6,021,709
Bsltim ore.....................
New Orleans............... 14,440,000
8,287,043 5,490,946 13,053,919 13,798,946
W e annex a statem ent o f the deposits and coinage a t the Philadelphia and
N ew O rleans m ints, for th e m onth o f D ecem b er:—
D K F O S IT S F O E

DECEM BEE.

N E W OELEANS.

P H IL A D E L P H IA .

From California.
Total.
$3,265,000
$3,330,000
19,500
19,500

Gold.
Silver
Total

$ 3 ,284,500

$ 3 ,349,500

Double eagles....................
E agles................................
H a lf e a g le s ......................
Q uarter e a g le s.................
Gold d o lla rs ......................

Pieces.
265,816
11,245
22,287
38,660
133,850

Value.
$ 5 ,316,320
112,450
111,435
96,650
133,850

Total gold coinage

471,858

$5,770,705

H alf d o lla rs........................
Q uarter dollars....................
D im e s..................................
H alf dim es........................
Three-cent pieces.................

4,590
16,660
286.500
241.500
3,553,900

$2,995
4,165
28.650
12,075
106,617

Total silver coinage

4 ,1 0 3 ,1 5 0

$ 1 5 4 ,5 0 2

G O L D C O IN A G E.

S IL V E E C O IN A G E .




213

Commercial Chronicle and Review.
C O P P E R C O IN A G E.

Cents............................................................................................
Total coinage.....................

...........

...........

886,341

$8,863

5,461,349

$5,934,070

In gathering up the statistics o f com m ercial operations for the year 1852, we
find m any particulars o f unusual interest. F o r th e first seven m onths o f the
year the receipts o f foreign m erchandise a t the p o rt o f N ew Y ork, w here tw othirds o f the im ports arc entered, show ed a considerable falling off as com pared
w ith the previous year, and the general expectation w as th a t this decline w ould
am ount, in the course o f the year, to a t lea st 10 per cent upon the total im ports.
T h u s, up to the 1st o f A ugust, th e receipts o f foreign goods and produce a t
the p o rt specified, from January 1st, 1852, am ounted to only $ 72,209,636 against
$85,414,931, for the first seven m onths o f 1851, show ing a decline o f $13,205,295,
or over 15 per cent. A fter this, th e receipts rapidly increased, show ing a gain
o f $2,000,000 in A ugust, $3,000,000 in Septem ber, and w ith the exception o f
O ctober, (which very nearly balanced,) this rate o f increase w as continued down
to the close o f the year. T h is change w as produced b y the unexpected dem and
for all classes o f foreign m erchandise for consum ption here and shipm ent to
the Pacific coast. W e annex a carefully prepared sum m ary o f the total m onth­
ly im ports a t N ew Y ork (exclusive o f specie) for three years, which w ill show
the exact course o f the foreign tr a d e :—

VA LU E O F F O R E IG N IM P O R T S (E X C L U S IV E O F S P E C IE ,) E N T E R E D AT T H E P O E T O F N E W Y O R K .

1850.

1851.

1852.

8,065,511
6,589,990
4,372,719

$15,258,015
11,890,372
12,815,597
10,339,883
10,876,465
9,809,692
14,424,907
13,275,427
9,615,241
8,554,509
5,752,979
6,698,948

$10,907,361
9,139,284
12,062,481
10,639,319
7,339,151
9,329,850
12,792,190
15,251,771
12,553,430
8,585,183
8,655,301
10,186,073

$119,579,003

$129,312,035

$127,441,394

J a n u a ry ........................... .............
February ......................... .............
M a rc h .............................. .............
April.................................. .............
May ................................ .............
Ju n e .................................. .............
J u ly .................................. .............
A u g u s t............................ .............
S e p te m b e r......................
October............................. .............
Novem ber.......................................
D ecem ber........................ .............

$11,931,554
8,248,459
9,965.835
11,898,024
10,645,954
7,196,171
19,246,278
11,023,744

T otal........................ .............

T h is show s a fiilling off, as com pared w ith 1851, o f only $1,870,641, and an
increase, as com pared with 1850, o f $7,862,392. O f the im ports as given above,
about 50 per cent in each year w ere dry goods. In 1852, a bout 10 per cen t
were free goods, principally tea and coffee, which show a large increase upon
the preceding year. F o r the sake o f convenient reference we annex com para­
tive tables, o f the to ta l im ports, distinguishing betw een the goods entered di­
rectly for consum ption, those entered fo r w arehousing, the free goods, and the
specie. W e also give a classification o f the various descriptions o f dry goods,
which m ake up the to ta l receipts in th a t d e p a rtm e n t:—




Entered
Wasehouse.

Free Goods.

§8,584,311
7,024,952
9,302,024
8,410,448
6,096,996
7,626,181
11,453,117
13,711,421

§1,281,594
1,003,383
916.519
732,422
453,109
640,722
423,919
464,962
623,260
694,426
596,068
935,257
8,665,641
13.903,152
15,099,750

§1,041,456
§104,736
1,110,949
110,293
1,843,938
525,421
1,496,449
327,400
7S9.046
380,584
1,062,947
429,747
915,154
150,067
1,075,388
56,917
834,343
66,789
215,143
62,690
891,382
80,766
829,147
112,815
12,105,342 2,408,225
9,719,771 2.049,543
8,645,240 16,127,939

7,775,614
7,167,851
8,421,669
106,670,411
105,689.112

V ALUE O F F O R E IG N

Woolen,

dry

goods

Entered

fo r

Cotton.

Specie.

c o n s u m p t io n

at

the

Silk.

Total 1852.

Total 1851.

§11,012,097
9,249.577
12,587,902
10,966,719
9,719,735
9,759,597
12,942,257
15,308,688
12,620,219
8,647,873
8,736,067
10,298,888
129,849,619
131,361.578
135,706,942

§15,468,470
12,054,403
13,086,102
10,861,548
10,987,908
9,930,926
14,506,050
13,461,930
9,730,791
8,577,674
5,971,452
6,724,324

po rt

of

n ew

york

Flax.

d u r in g

Withdrawn from Total thrown on
Warehouse, ’52. the market, ’52. the market, ’51.

§11,315,155
10,035,191
13,277,232
11,489,726
8,646,997
10,030,354
13,614,138
16,173,717
13.251,317
9,310,017
9,187,971
10,267,472
136,599,287
131,356,952
131,530,138

§1,584,652
1,788,997
1,605,849
1,255,439
1,380,371
911,479
1,095,800
1,329,991
1,254.358
1,256,570
1,047,972
903,841
15,415.309
13,898,526
10,922,946
the

years

1851

Miscellaneous.

and

$14,880,869
11,713,512
12,972,614
10,767,303
10,697,999
9,605,214
14,650,969
13.356,086
10,535,179
8,975,116
6,410.496
6,791,595

1852.
Total.

1852.
1851.
1852.
1851.
1852.
1851.
1852.
1852.
1851.
Months.
1851.
1852
1851.
Ja n u a ry ................. §1.600,098 §1,306,322 §1,843,441 $1,308,452 §4,032.002 §2,970,633 §692,138 §569.161 §540,204 §451,243 §8,707,883 §6,605,811
F ebruary............... 1,273,619
990.291 1,452,882
938,177 2,423,859 1,980.154 887,394 504,550 419,240 349.486 6,456,994 4,762.658
March..................... 1,134,479 1,132,921 1,123,009 1,002,386 1,640,577 1,688,099 873,251 701,572 399,988 519,964 5,171,304 5,044,941
A p ril......................
918,580
762.030
768.902 1,281,669
698,757
999,303 569,399 604,499 259,456 291,033 3,727,861 3,425,767
M ay........................
586.350
277,351
397,305
237,349
918,399
518,368 268,986 263,607 124,013 246.796 2,135,097 1,703,427
J u n e ...................... 1,068,752
688,785
428,923
330,785 1,512,986 1,011,909 244,949 292,015 176,670 103,338 3,432,280 2,426,832
J u ly ........................ 2,354,643 2,187,187 1,193,817 1,089,736 3,933,092 3,074,265 611,250 488.586 453,476 530,595 8,546,278 7,370,369
A u g u s t................. 1,736.232 2,528,842
870.116 1,240,071 2,532,029 2,706,702 536,816 614,686 382,831 536,684 6,058,024 7,626.985
Septem ber............. 1,293,205 2,085.397
600.073
950,820 1,553,943 2,070,823 477,742 742,596 331,601 446,681 4,256,564 6,296,317
October...................
416.738 1,077,608
229,166
387,454
687,355 1,317.305 273,065 412,464 195,475 168,379 1,801,799 3,364,210
N ovem ber.............
285,808
264,439
347,862
633,451
370,677
969.417 321,715 459.882 138,685 203,849 1,358,009 2,637.276
December..............
690489 1,023,500
676,453 1,357,605
938,506 1,519,689 365,301 650,087 201,299 412,660 2.872,048 4,963.521
Total entered........ 13,358.493 14,813.639 9,618.425 10,022,415 21.802,279 20,826,647 6,122.006 6.304,705 3,622,938 4,260.708 54,524,141 56,228.114
Add w ithdraw n... 1,893,535 1,637,376 1,409.510 1,416,341 1,684,177 1,918.056 627,812 799,132 4S7.225 393,277 6,102,259 6,164.182
Tot. passed to con’.. 15,252,028 16,451,015 11,027,935 11,438,756 23,486,456 22,744,703 6,749,818 7,103,837 4,110,163 4,653,985 60,626,400 62,392,296




Commercial Ch-rjiiicle and Review.

Entered for
Consumption.

214

Months.
January ................. . . .
F ebruary ...............
M a rc h ....................
A pril.......................
May,........................
J u n e ........................
J u ly ........................
A u g u s t..................
Septem ber.............
October...................
N ovem ber.............
D ecem ber............... . . .
Total 1852......... . . .
Total 1851......... . . .
Total 1850.........

*s

V A L U E OF F O R E IG N D R Y GOODS W IT H D R A W N F R O M W A R E H O U S E D U R IN G T H E Y E A R S

Woolen.
J a n u a r y .............
F e b r u a r y ..........
M a rc h ................
A p r i l ..................

1851

1851.

1851

1851.

$ 2 1 4 ,1 0 2
201,935
143,427
149,562
70,5 8 4
62,0 9 4
2 3 7 ,4 3 4
221.498
166,667
49,9 3 6
43,836
76,301
1 ,6 37,376

$ 2 5 4 ,2 2 4
202,950
171,836
140,401
52,646
29,446
157,371
121,312
1 0 7 ,154
48,1 8 8
34,911
89,071
1 ,4 0 9 ,5 1 0

$ 2 8 0,601
811,647
2 2 9,213
144,867
37,902
24,586
96,970
95,769
69,448
28,798
13,968
82,580
1,416,341

$ 1 0 6 ,3 7 0
140,724
119,483
104,735
49,343
7 2 ,562
265,709
121,689
245,100
144,646
184,560
129.256
1,684,177

1852.

1851.

J a n u a r y ...............
F e b r u a r y .............
M a r c h ..................
A p r i l ....................
M a v ......................
J u n e ....................
J u l y ......................
A u g u -'t.................
S e p te m b e r,..........

1851.

1852.

..........

$ 1 3 9 ,6 5 6

$ 1 8 4,111

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

,721
1 0 7 ,3 4 4
2 3 4 ,916

121,917
1 0 9 ,736
105.125

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

4 9 5 ,9 5 7
2 7 7 ,963
128 4 0 8

86,8 9 0
96,804
8A 105




1851.

1851

1851,

1851.

1851

1851

Flax.

1852.

1851.

1852.

Total.

1851.

1852.

$630 ,3 0 6
5 45,600
4 77,240
480,557
236,384
251,742
800,688
625,242
922,575
893,821
353,662
384,442
6,102,259

1852.
Miscellaneous.

$930 ,5 4 4
1,149,639
756,956
581,661
314,263
199,647
528,278
521,225
4 2 5 ,8 1 9
283,075
166,863
306,312
6,164,182

AND

1851.

1851

Total.

1851.

1852.

$ 2 2 2 ,4 1 2 $ 208 ,8 5 6 $206,005 $837,357 $54,355 $ 66,839 $ 42,253 $ 24,402 $664,681 $1,321,565
196,362
32,402
8,662
45,685
17.3,326
62,631
150,177
70,171
545,107
360,647
4 3 ,392
154,083
211,348
37,520
52,762
668,255
170.125
132,333 116,799
540,877
135,904
80,984
48,171
45,301
4 68,908
105,873
2 03,334
59,923
24,487
4 99,707
111.418
39,519
59,082
26,580
379,639
306,961
92,118
111,309
9,777
19,817
109,085
13,022
144.811
32,565
86,984
23,100
19,708
12,345
524,257
267,404
268,318
21,556
72,226
130,624
45,003
16,299
27,465
8 1 1 ,6 7 3
367,328
129,572
45,018
371,652
19,873
38,693
28,536
72,579
92,295
1,142,567
252,896
143,970
184,289
56,732
61.718
8 4 9 ,4 9 0
159,998
59,597
88,150 137,148
90,092
363,001
73,081
57,130
4
94,462
27,984
53,776
8
84.739
244.803
90,1 3 0
19,718
98,658
5
0
9
,2
1
2
58,056
9,373
66,542
41,123
243.933
172,607
76.603
101,206
81,037
145,876
45,481
44,336
8 7 4 .0 6 2
240,265
218,074
143,176
21.651
666,908
349,086
1,862,458 1,100,930 2,607,326 2,127,242 963,147 383,222 519,949 4 5 2 ,0 3 4 8,32 2 ,5 9 0 5,42 6 ,0 3 0
9 ,6 18,425 1 0 ,022,415 21,802,279 20,826,647 6,122,006 6,304,705 3,622,938 4,260,708 54,524,141 5 6 ,2 2 8 ,1 1 4
1 1 ,480,883 11,123,345 24,409,605 22,953,889 7,085,153 6,687,927 4,142,887 4,71 2 ,7 4 2 62,846,731 6 1 ,654,144

215

N o v e m b e r ..........
D e c e m b e r.......... ..........
214,273
118.752
T o t. e n t. for w a re h ’ng. 2 ,3 6 9 ,7 1 0 1,362,602
A d d e n t, for co n su m ’n 1 3 ,3 5 8 ,4 9 3 14 ,8 1 3 ,6 3 9
Total ent. at the port. 1 5 ,728,203 1 6 ,1 7 6 ,2 4 1

Silk.

Cotton.

AND 1852.
Miscellaneous.

$ 2 9 1 ,8 8 6 $109,935 $121,635 $ 5 3 ,9 5 0 $ 2 2 ,3 2 0
384,198
69,065 188,788 42.685 63,071
193,600
56,204 140,042 45,165 5 0 .674
155,249
68,138
75,329 50,252 5 6 ,554
28,9S0
40,355 2S.615 26,705
138,717
17,310 19,045
88,132
27,245
7,525
32,064 21,109 12,416
149,394
37,782
42,129
140,143
65,350
19,767 21,686
97,148
44,778
56,955 31,059 35,601
141,266
30,519 68,538 32,556
53,667
25,160
20,177 56,083 24,391
64,497
41,508
73,826
33,827 50,957 39,778
1,918,056 627,812 799,132 4 87,225 393,277

V A L U E O F F O R E IG N D R V GOODS E N T E R E D F O R W A R E H O U S IN G D U R IN G T H E Y E A R S

Woolen.

1851

Flax.

Commercial Chronicle and Review.

J u n e ..................
J u l y ...................
A u g u s t..............
S e p te m b e r . . .
O c to b e r.............
N o v e m b e r .. . .
D e c e m b e r,. . .
T o ta l w ith d ’n ..

$105,827
90,176
84,552
117,031
7 6 ,8 0 0
1 0 3 .444
318,717
2 9 7 ,124
4 9 4 ,4 8 4
78,782
52,948
73,6 5 0
1,893,535

Silk.

GO

1851,

Cotton.

216

Commercial Chronicle and Review.

On reference to the foregoing tab le s it will be seen th a t th e m erchandise o f
all descriptions entered directly for consum ption has increased, while the am ount
entered for w arehousing has m aterially declined, show ing an active and ready
dem and for the goods as fa st as th ey w ere received. T h e free goods have in ­
creased very rapidly, ow ing to the large im portations o f tea and coffee. T he
receipts o f specie show b u t little change, as com pared w ith 18 5 1, b u t a large
decline, as com pared w ith 1850; and this need a w ord o f explanation. In the
la s t nam ed year, up to the 1st o f N ovem ber, the receipts o f California gold d u st
via Ch&gres were entered as foreign im ports, and afterw ards it became im possi­
ble to divide them from the product o f foreign countries. T h u s, the item of
$16,127,939 doubtless includes §14,000,000 o f dom estic gold. T h e to ta ls which
are given in the table un d er notice, adjoining th e colum n o f specie im ports,
show s the am ount o f all classes o f foreign im ports, m onthly, th ro u g h o u t the
year. W e have added, in the sam e table, the w ithdraw als from w arehouse, and
the total throw n on the m arket, w hich show a large increase in the actual con­
sum ption o f foreign goods. T h u s, the value which passed into the channels of
distribution during the year show s an increase o f $5,200,000 over the total
o f 1851.
T u rn in g to the tables show ing the im ports o f dry goods, w e find th a t the re­
ceipts steadily declined from Ja n u a ry until the close o f July. T h u s, up to the
1st o f A ugust, 1852, the total im ports o f this class o f m erchandise w as
$7,245,923 less th an for the corresponding seven m onths o f 1851. A fter this,
the increased dem and for foreign fabrics, and the rem unerating prices obtained for
fresh goods, stim ulated the trade, so th a t the im ports rapidly increased, until,
a t the close o f the year, the total w as only $1,192,587 Jess than for the year
1851, and som ew hat exceeded the am ount for the year 1850. W e annex a
sum m ary com parison for three years, the particulars o f which are given in tho
foregoing ta b le s :—
F O R E IG N D R Y G OO DS E N T E R E D AT N E W Y O R K .

Entered for Consumption. Entered for Warehousing.

1852 .....................................
1851 ....................................
1850 .....................................

$5G,228,114
54,524,141
53,688,016

§5,426.030
8,322,590
6,418,359

Total.

§61,654,144
62,846,731
60,106,375

T h is gives the total entered a t th e p o r t ; the total throw n upon the m arket
has increased $1,765,896, as is show n a t the foot o f o n e o f the preceding tables.
In another p art o f this M agazine w ill bo found a table containing particulars o f
o th e r item s o f im ports.
T h e revenue received a t the p o rt o f N ew Y ork for 1852 show s an increase on
th e total for the previous year, and is the larg est am ount ever received a t a sin­
gle p o rt in this country. W o annex a m onthly com parison for three years :—
C ASH D U T IE S R E C E IV E D AT N E W

1850.
January...........................................
$2,948,925 25
F e b ru a ry ............................................
2,018,78068
March...................................................
2,028,95055
A p ril...............................................
2,216,669 13
M ay......................................................
2,311,90068
June......................................................
1,504,68376




YORK.

1851.
$3,511,610
2,658,835
3,124,811
2,547,582
2,544,640
2,305,185

1853.
04
87
39
52
16
62

$2,600,562 64
2,286,955 47
2,730,369 61
2,447.634 07
1,952,110 86
2,232,680 23

217

Commercial Chronicle and Review.

1850.
J u l y ................................................
A ugust............................................
Septem ber......................................
October...........................................
November.......................................
D ecem ber.......................................
T o tal.......................................

4,210,115
3,484,965
2,495,242
2,112,906
1.642,125
1,072,173

1851.
95
65
77
29
27
76

3,558,500
3,234,764
2,609,832
1,958,516
1,488,740
1,578,343

1858.
12
21
97
17
09
92

§28,047,439 74 §31,081,263 08

3,240,787
3,884.295
3,156,107
2,392,109
2,051.476
2,357,648

18
56
29
57
35
98

$31,332,737 81

T h e exporta have been m uch larger than generally anticipated a t the opening
o f the y e ar; including the item o f specie, they w ould show a considerable de­
cline, as com pared w ith 1851, b u t in produce and m erchandise the increase
am ounts to $2,517,714. W e give a m onthly statem ent, em bracing the particu­
lars o f each class o f sh ip m en ts:—
EXPOETS FRO M

NEW

Y O R K TO

1852,
Months.

F O R E IG N P O R T S

FOR THE

Y E A R E N D IN G D E C E M B E R

31,

C O M PA R E D W I T H T H E P R E V IO U S Y E A R .

Domestic
Produce.

Foreign
Dutiable.

Foreign
Free.

Specie.

Total
1852.

Total
1851.

January ................. $2,419,296 $358,244 $26,693 $2,868,958 $5,673,191 $4,893,004
F eb ru ary ............... 3,352,943 322,272
93,932 3,551,543 7,320,690 3,949,972
M a rc h .................... 4,313,245 357,230 100,557
611,994 5,383,026 6,690,674
200,266 4,865,291 8,424.837
A pril....................... 4,244,044 353,262 67,719
May......................... 4,249,924 545,973 106,818 1,834,893 6,737,608 9,382,573
Ju n e ........................ 3,566,369 482,594 125,500 3,556,355 7,730,818 10.662,381
J u l y ........................ 2,965,542 325,732
20,759 2,971,499 6,283,532 9.478,905
A u g u st................... 2,340,820 220,978 46,464 2,935,833 5,544,095 6,290,561
S e p te m b e r........... 3,289,429 317,888 128,184 2,122,495 5,857,996 6,534,446
October................... 3,497,874 484,801
82,886 2,452,301 6,517,862 4,947,007
N ovem ber............. 3,529,447 541,296 27,634
809,813 4,908,190 7,945,472
December............... 2,947,848 518,352
54,805 1,180,305 4,701,310 8,554,017
Total, 1852........ 40,716,781 4,828,622
“ 1851......... 39,164,775 4,024,052
“ 1850
43,957,012 5,641,008

881,951 25,096,255 71,523,609
721,813 43,743,209 87,653,849
538,280 9,982,948 60,119,248

T h e m ost noticeable feature in the above table is the g reat decline in the ex­
ports o f specie. N otw ithstanding th a t the receipts o f California gold have been
larger, the exports o f coin and bullion have fallen off m ore than 40 per cent,
and the decline is also quite noticeable since the opening o f the c u rre n t year.
W e presen t a condensed sum m ary o f the table o f exports for the convenience
o f our re a d e rs:—
Specie.

1852....................................
1851.....................................
1850.....................................

$25,096,255
43,743,209
9,982,948

Merchandise.

Total.

$46,427,354
43,910,640
50,136,300

$71,523,609
87,653,849
60,119,248

T h e shipm ents o f produce for the year 1852 are n o t equal to the am ount in
1850, b u t exceed the to ta l for 1851. W e give below a com parison o f the ex­
ports o f som e o f the leading articles o f dom estic produce for the last tw o years.
It will he seen th at the shipm ents o f flour have increased 101,275 bbls., and
w heat 1,656,761 bushels, while Indian corn, which is gradually giving place to
w heat, has declined 847,236 bushels. In w hale oil th ere is a decline, b u t the
shipm ents of sperm have increased.




218

Commercial Chronicle and Review.

E X P O R T S F R O M N E W T O R E T O F O R E IG N P O R T S O F C E R T A IN L E A D IN G A R T IC L E S O F
D O M ESTIC P R O D U C E .

1851.

1852.

1851.

1852.

210,492

28,011

Ashes—pots.___bbls.
24,628 16/790 Naval sto re s.. . .bbls. 367,240 530,651
pearls...........
1,637
1,088 Oils, w hale.........galls. 1,122,818
62,822
Beeswax............... lbs. 280,820 412,'732
sperm ................. 543,555 795,651
B r e a d s tu f f's —

la r d .....................

Wheat flour . ..bbls. 1,264,322 1,365,597
lin seed ................
7,972
12,427
8,244
8,363 Provisions—
% e flour...............
Corn meal.............
38,388 45,897
Pork..................bbls.
47,482
39,625
W heat..........bush. 1,468,465 3,124,226
Beef..........................
40,147
48,875
% e ........................
13,162 236,460
Cut m ea ts.........lbs. 3,427,111 1,528,894
Oats......................
5,282 10,886
B u tte r...................... 2,196,538 692,249
Barley.................................

367

C h e ese .................... 7,487,139 1,249,021

Corn...................... 1,605,674 758,438
L a r d ........................ 5,686,857 4,545,641
Candles, mold, .boxes 37,932 59,802 R ic e ...................... trcs. 29,100 26,113
sperm..........
4,173
3,937 Tallow................... cwt. 2,221,258 451,386
Coal.....................tons 11,298 37,161 Tobacco, crude...pkgs. 19,195 25,638
Cotton............... bales 289,645 336,679 Do., manufactured.lbs. 3,798,354 4,676,409
Hops..........................
418
746 Whalebone................. 1,802,526 1,033,980
Nor have the products of the loom been neglected in this increased prosperity.
Notwithstanding the high prices of most articles of domestic cottons, the ship­
ments to foreign ports have steadily increased both from New York and Boston.
We present a comparison for four years:—
E X P O R T S O F D O M ESTIC COTTONS F R O M P O R T O F N E W

YORK.

E ast In d ies.........................
Mexico..........................
Dutch W est Indies......................
Swedish W est Indies...................
Danish West Indies.......................
British W est Indies.......................
Spanish West In d ie s...................
St. D *m ingo...................
British North A m e ric a ...............
New G ranada..............................
Brazil .................
V enezuela...................
Argentine Republic.....................
B o liv ia ....................
Central America...........................
West Coast South America........
H o n d u ra s......................
Africa.....................
Other p o rts.................

18-19.

1850.

1851.

13,143
1,920
359
51
116
19

20,091
2,463
289
16
56
131
129
1,208
47
206
1,478
990
249
223
384
3,426

38,413
1,479
321
21

538
130

27,902
820
352
24
261
131
132
1,895
195
153
3,178
8C5
86
234
1,218
1,161
150
1,772
31

Total from New Y ork...................
Total from Boston...........................

24,006
37,474

32,155
34,308

40,560
46,589

54,692
59,395

To
To
To
To
To
To
To
To
To
To
To
To
To
To
To
To
To
To
To

97
324
4
163
1,783
548
957
115
239
2,603
859
475
231

101

1851

70
131

77
736
108
643
3,281
865
1,475
653
2,743
246
3,405
25

The effect which the increased supply of gold is likely to have upon the prices
of other property, and upon the general Commerce of the world, is attracting

much attention upon both sides of the Atlantic. It is now generally conceded
by the wisest thinkers in this country, that such is the expansive power of Amer­
ican enterprise, that it will readily absorb the increased capital without any ex­
traordinary inflation of prices, beyond the legitimate increase in value conse­
quent upon uninterrupted prosperity. In the old world, however, the change is
likely to be more marked, although even there we believe the rise in the value of
investments will be much less rapid than has been predicted. A largo gathering
of capital at London was expected, but so far, the bullion in the Bank of Eng-




Journal o f Banking , Currency, and Finance.

219

land has suffered b y the m ovem ent. T h e am ount on deposit at the present
w riting is £ 1,200,000 le s s than a t the opening o f the year, and the B ank has
felt com pelled to advance th e rate o f interest from tw o to tw o and-a-half per
cent, to check the outw ard current.

JOURNAL OF BANKING, CURRENCY, AND FIN A N C E.
BELL'S DICTIONARY OF BANKING.
“ Why have wo not a Banking Dictionary similar to McCulloch’s Commercial Dic­
tionary ?” This very natural inquiry of the L o n d o n B a n k e r s ' M a g a z in e , is on the eve
of a practical answer by G. M. B e l l , Esq., Secretary to the London chartered Bank
of Australia, and author of the “ Philosophy of Joint-Stock Banking,” “ The.Currency
Question,” “ The Country Banks and the Currency,” etc. Mr. B e ll has been for some
time engaged in the preparation, and has now nearly completed his “ D ic t i o n a r y o f
B a n k i n g ” which will be put to press as soon as a sufficient number of subscribers are
obtained to cover all risk. His work is to comprise “ a full and comprehensive account
of the Laws, Principles, and Practice of Banking; Biographical Notices of Persons
who have distinguished themselves as writers, legislators, or witnesses on Banking
affairs; the state of Banking in various parts of the w orld; with a description of the
different Banks in the United Kingdom, and the towns in which they are situated. I t
will also contain Notices of all m atters relating to Banking as a Science, as well as an
A r t; information as to the Investment of Money; the discoveries of the precious
metals in Australia, California, and other parts of the world ; the Rules and Regula­
tions of the Stock Exchange and the Money Market, and Explanations of Legal, Com­
mercial, and Technical Terms connected with the general business of Banking.”
Mr. Bel 1’8 experience as a Bank manager, and his attainm ents as a scholar, are a
sufficient guaranty th at it will be a work of great value and interest, alike to the
Banker, the Merchant, the Man of business, and general reader. We are pleased to
learn that many of the most influential Bankers in England have sent in their names
to the author as subscribers. A list of subscribers’ names is to be published at the
end of the work. The subscription price is fixed at £1 10s.—about $7 50 of our
currency. The work is to be dedicated to J ames W ill ia m G ilb a rt , E s q , F. R. S.,
General Manager of the London and W estminster Bank—(a personal friend of the
author)—and one the most accomplished writers in commercial and general literature,
as well as experienced and practical Bank managers in Great Britain.
BANKING IN NEW JERSEY.
The Governor of New Jersey in his annual message sums up the experience of New
Jersey in banking as follows:—
Since the year 1804, the commencement of banking privileges in New Jersey, fortyfive bank charters have been granted. Of these there are but twenty-four in opera­
tion. Twenty-one have therefore either failed, or have not been organized. Of the
six State banks chartered in 1812, two have failed; of the five banks chartered in
1823, four have failed; of six in 1824, all failed ; of five in 1837, only one is in ope­
ration. Seven of these broken banks, whose affairs have been settled in the Court of
Chancery, exhibit a capital of $2,307,200; circulation presented for redemption,
$575 207, and a dividend to creditors amounting to an average of about 21 per cent.
Of ten other insolvent banks, six have not made either settlement or dividend, and
the affairs of the remaining four are still unsettled. They will probably pay an aver­




220

Journal of Banking , Currency, and Finance.

age of nearly 20 per cent. These failures have chiefly occurred within a period of
thirty years. The total amount of losses sustained by the community cannot be accu­
rately ascertained, as the claims of numerous creditors, especially bill-holders, for ob­
vious reasons, are not presented to the receivers. The ascertained losses reach the
sum of one-and-a-half millions of dollars, though it is highly probable they cannot be
far short of double that amount.
BANKS AND BANKING IN SOUTH CAROLINA.

The charter of the Bank of the State of South Carolina expires in 1856. The Gov­
ernor ( J ohn H. M eans ) in his message to the Legislature, (November 24, 1852,) in
view of the short time the charter has to run, urges upon the Legislature the im port­
ance of considering the question of its re-charter a t the present session, and goes on
to give his reasons. We quote from his m essage:—
“ This Institution has proved itself to be highly useful and safe as a fiscal agent of
the State, and has aided m aterially in sustaining our people during the severe mone­
tary crisis through which we have passed. As all human institutions are imperfect,
no doubt but some instances of mismanagement have occurred in the conduct of its
affairs. I believe that the only mismanagement that has been complained of is an
over indulgence of some of its debtors. I have not been able to learn, however, th at
the Bank has sustained any losses from this cause. In some instances a long indul­
gence has secured the final payment of the debt, and at the same time enabled the
creditor to secure a competency to his family, when the sudden calling in of the debts
would have resulted in heavy losses to the Bank, and brought ruin and bankruptcy
upon the debtor.
“ It is much more creditable to the management of this Institution that it should
have erred in this particular, than that it should have proved a relentless creditor, by
forcing sales of property a t a ruinous sacrifice.
“ The charters of many of the Private Banks are about to expire; and in all prob­
ability application will be made to you for a renewal of them. W hatever may be
thought of the policy of the Banking System, were the question of its introduction
among us for the first time made, one thing is certain, it has so completely interwoven
itself into all our habits of business, that to abandon it now would greatly embarrass
the commercial interest, and probably bring ruin upon the country. It perhaps would
be wise to re charter them a ll ; y et some check ought to be placed upon them. I
know of no other better than a strong Bank of the State.
“ A nother argument in favor of its re-charter, is the amount of taxes it saves to our
citizens. During the past year its profits have amounted to $279,725, which, of
course, has relieved our people of that amount of taxation. But, above all other rea­
sons why you should renew its charter, the fact that the honor of ihe State is pledged
to it should have greater iufluence with you than anything else. When the Fire Loan
Bonds were negotiated in England by Ex-Governor McDutfie, the profits of the Bank
were pledged as a security for their payment. Thu , it would appear, that a refusal
to re-charter this Bank, at least until these bonds are liquidated, would involve a vio­
lation of the pledges, affect the credit, and tarnish the honor of the State, which every
Carolinian should regard as sacred as his own.
“ Without m iking a positive recommendation on the subject, I suggest to you the
propriety of considering at this time whether it would not be wise, under existing cir­
cumstances, to increase the capital of the Bank of the State. The great increase of
all kinds of business, caused by our railroads, calls for additional banking capital.
Some of the large manufacturing establishments which have recently sprung up
among us, have been greatly embarrassed during the past summer for the want of
bank accommodation. In fact, the complaint is very general on this subject. No
doubt this state of things will produce applications for charters for more banks. Now,
as the Banking System has proved so highly profitable, would it not be wise to ap­
propriate a large portion of it to the State, and thus in a measure free our people
from taxation.
“ But a still stronger reason for an increase, is to give it the power of acting as a
check upon the private banks. They are certainly much to be dreaded, if left entire­
ly uncontrolled. When the condition of the country is prosperous, the temptation to
expand their currency, and thus increase their profits, is almost irresistible. Such ex­
pansions cause all kinds of property to assume a fictitious value, and the whole coun­




Journal o f Banking, Currency, and Finance.

221

try runs not in the wildest speculations. Scenes of great distress always follow such
periods as these, and is generally hastened and rendered still more terrible by the
sudden calling in of the debts, and the contraction of the currency. In fact, the value
of property is almost entirely at the mercy of those who control the currency of the
country. An expansion always runs it far beyond its value, and a contraction far be­
low. Even the price of our great staple can be affected by the banks refusing to lend
money freely, and thus seriously injure the planter. There should be some check upon
this immense, this fearful power.
“ I know th at great fears are entertained as to the political power which a strong
Bank of the State would wield—but these are rather imaginary than real, if you will
reflect that it will be entirely under the control of the Legislature. Its officers are
elected annually, and of course could be removed if found exerting any influence at
variance with the true interests of the people. A ll the arguments which go to es­
tablish our fears that a corrupting influence might be exercised upon the politics of
the country, would equally apply to private banks. If there is any real danger of
such influences from moneyed monopolies, it is far better that they should be under the
control of the State, than that they should control the State. The Bank of the State
is directly responsible to the Legislature, while the private banks are perfectly inde­
pendent of it, from the time they receive their charters until they expire.
“ I f you, in your wisdom, should deem that it is inexpedient to increase the capital
of the Bank of the State, so as to give it the controlling influence, prudence requires
that you should grant no charter to any private bank with a capital of sufficient size
to give such influence to it. Ho bank should be chartered with a capital beyond a
million of dollars.”
The Bank of the State, according to a report made to the Governor by the Presi­
dent of the Bank, shows it to be in a prosperous condition. The capital is $100,000
more than in 1861:—
The capital in use is set down a t ....................................................................
Deduct Fire Loan Bonds...................................................................................

$3,450,000
298,500

The profits a re ....................................................................................................
Deduct interest on Fire Loan Bonds..............................................................

$3,152,500
309,405
29,680

L eaves..................................................................................................

$219,725

which is about 9 per cent on its capital.
The S o u t h C a r o li n ia n , published at Columbia, the seat of government, discusses
the subject of Banking with considerable ability, and furnishes the subjoined tables
of the circulation of the Banks for twelve y e ars:—
CIRCULATION OF THE E L E V E N INDIVIDUAL INCORPORATED BANKS OF SOUTH CAROLINA, AT
PERIODS OF T W O M O N TH S, FROM THE 1ST FEBRUARY, 1841, TO 1ST OOTOBER, 1852,
INCLUSIVE, CONDENSED FROM OFFICIAL SOURCES.
[

1841.
February. . .
April............
J u n e ............
A u g u s t___
October ____
D ecem ber...

aggregate

1842.

c a p it a l s ,

1841

$ 1 0,330,225.

1844.

1845.

1846.

. . $3,406,677 $3,456,428 $3,878,522 $5,061,333 $4,605,347 $4,579,666
. . 3,569,658 3,038,073 3,766,554 4,921,321 4,500,769 4,483,125
. . 3,103,691 2,688,521 3,496,145 4,263,961 3,993,592 3,771,866
. . 3,062,627 2,318,664 3,140,011 3,701,330 3,648,195 3,416,592
. . 2,695,218 2,367,566 3,194,319 3,604,787 3,951,570 3,760,874
. . 3,428,443 3,309,937 4,049,294 3,940,909 4,432,021 5,455,483

1847.

1848.

1849.

1850.

1851.

1852.

F ebruary. . . . . $6,472,716 $5,024,143 $5,653,254 $8,762,060 11,050,811 $7,006,905
April............ . . 5,837,823 4,506,085 5,478,917 7,732,686 9,134.058 6,483,183
Ju n e ............ . . 5,427.173 3,487,832 6,159,931 6,929,987 7,222,046 5,818,679
A u g u s t___ . . 5,041,474 3,183,150 4,852,195 6.807,303 6,683,637 5,535,152
O ctober___ . . 4,610,330 3,343,467 4,848,037 6,104,225 5,741,390 5,411,960
D ecem ber... . . 4,600,555 4,345,639 6,178,922 9,685,758 6,488,475




222

Journal o f Banking , Currency, and Finance.

C IR C U LA TIO N O F T E E S IX IN D IV ID U A L IN C O R P O R A T E D BANKS I N T H E C ITY O F C H A R LESTO N ,
AT P E R IO D S O F TW O M O N TH S, F R O M T H E

1ST

FEBRUARY,

1841,

TO

1ST

OOTOBER,

1852,

IN C L U S IV E , C O N D EN SED F R O M O F F IC IA L SOURCES.
[aggregate

1811.

c a p it a l ,

1842.

$ 8 ,0 30,235.]

1841.

1844.

February.........$1,575,150 $1,388,738 $1,710,646
April................ 1,674,027
1,225,287 1,824,647
J u n e ................. 1,397,451
1,162,991 1.678,451
A u g u s t........... 1,373,126
990,179 1,463,765
O ctober........... 1,158,949
937,028 1,506,312
December........ 1,321,794 1,239,728 1,861,045

1847.
February.........$3,619,967
April................... 2,193,638
J u n e ................... 2,752,320
A u g u s t........... 2,520,999
O ctober........... 2,309,060
December. . . . 2,424,505

1848.

1849.

$2,839,187
2,541,742
1,846,819
1,575,480
1,656,797
2,425,213

$3,404,522
3,287,997
3,095,331
2,775,498
2,813,946
3,393,806

$2,496,963
2,583.968
2.287,265
1,929,424
1,877,645
2,125,167

185ft.
$5,318,870
5,621,998
3,727,969
3,604,805
2,867.844
5,573,888

1845.
$2,591,597
2,453.511
2,118,892
1,951,184
2,274,160
2,479,501

1851.
$6,500,221
5,284,663
4,045,917
3,635,733
3,150,117
3,771,768

1816.
$2,583,354
2.453,688
2,033,331
1,849,564
2,119,277
3,249,469

1852.
$3,944,660
3,715,350
3,360,662
3,269,196
3,211,775
................

CIRCULATION OF THE FIVE INDIVIDUAL INCORPORATED BANKS, LOCATED IN THE INTERIOR
TOWNS OF SOUTH CAROLINA, FOR PERIODS O F TWO MONTHS, FROM 1ST FEBRUARY, 184:1,
TO 1ST OCTOBER, 1852, IN C L U S IV E , CONDENSED FROM OFFICIAL SOURCES.
[A G G R E G A T E C A P IT A L ,

1841.

1842.

1841.

$2,3 0 0 ,0 0 0 .]

1844.

1845.

1846.

F ebruary.........$1,831,527 $2,067,690 $2,167,876 $2,564,370 $2,014,750 $1,996,312
A pril................ 1,895,631 1,812,786 1,941,907 2,337,373 2,047.258 2,029,437
J u n e ................. 1,706,239 1,525,530 1,817,694 1,976,496 1,874,700 1,738,535
A u g u s t........... 1,689,501 1,328,485 1,676,246 1,771,906 1,697,011 1.567.028
O ctober........... 1,536,269 1,430,538 1,688,007 1,727,142 1,677,410 1,641,597
December........ 2,106,649 2,070,209 2,188,249 1,815,742 1,952,521 2,206,014

1847.

1848.

1849.

1850.

1851.

1852.

F ebruary.........$2,853,019 $2,104,956 $2,248,732 $3,443,190 $4,550,590 $3,062,249
April................ 2,644,189 1,964,343 2,190,920 3,110,688 3,849,395 2,767,833
J u n e ................. 2,674,853 1,641,013 2,064,600 3,202,018 3,166,229 2,458,017
A u g u s t........... 2,520,475 1,607,670 2.076,697 3,202,448 3,047,904 2,265,956
O ctober........... 2,301,270 1,686,670 2,034,091 3,236,381 2,591,273 2,200,185
December........ 2,176,050 1,920,426 2,785,116 4,111,870 2,716,707 ...............
The w riter in the S o u t h C a r o li n ia n , from an inspection of the foregoing “ figures,”
comes to the conclusion that two im portant “ facts” are very evident:—
“ First, th at in reference to the privileges under their charters, the Banks have not
over-is-ued; for while by their charters they are perm itted to issue three dollars of
circulation for every one of capital, they have in fact but little exceeded, and once for
a few weeks, the amount of their capital at the maximum of their issues, in the last
twelve years, during which their circulations have attained a higher point than they
had dune in the whole course of their existence.
“ In the next place, it appears by the tables, that the circulation of the Banks is
regulated or determined by something very different from the caprice of Bank Direc­
tors, to w it: by the amount of general traffic in produce and commodities, particularly
cotton, respect being had both to quantities and prices; for it will be seen that the
fluctuations on the amount of the circulation correspond with those of trade. Cotton
begins to sell early in the fall, when the issues of the Banks are a t the lowest point,
and continues to be sold largely and freely until about the 1st of .March in each y ear;
and it is during this period of every year that the currency obtains its maximum,
when, with the trade on cotton, it declines for the next six or seven months, and so on
invariably throughout every year. If there have been great and sudden fluctuations
in the amount of bank-notes in circulation at any particular period, they should be
ascribed to their true causes—the great variations both of the amount of the crops of
corn and cotton, and in the prices for which they have sold, modified by social and po­
litical causes.




Journal o f Banking, Currency, and Finance.

223

“ The effects Gf the dry year of 1845, of the great decline in the price of cotton at
the opening of the season of 1847, continued throughout, hightened by the panic
growing out of the French Revolution, February, 1848, the prosperity of the next
three years, particularly 1851, and of another short grain crop in 1851, are very ap­
parent in the fluctuations in the volume of the circulation. The effects of secesb io n , in
producing an enormous decline from February, 1851, is startling.”
STATISTICS OF TH E BANKS OF RHODE ISLAND.

We are indebted to a correspondent for an official copy of the abstract from the re­
turns made to the General Assembly a t the October Session, A. D., 1852, by the sev­
eral Banks in the State of Rhode Island and Providence Plantations. From these re­
turns we compile the subjoined tabular statem ent showing the name and locality of
each Bank, capital stock actually paid in, bills in circulation, specie actually in the
Bank, the average per cent semi-annual dividend, and the largest amount of indebted­
ness of any one person or firm.
There are 70 banks in Rhode Island, 26 of which are in Providence. The capital
stock actually paid in of the city banks is $10,362,610; country banks, $3,674,831.
The total bills in circulation is $3,322,314, (of which $995,202 79 consist of bills un­
der five dollars;) specie actually in banks, $414,970; net profits on hand, $839,489.
The total amount of liabilities is $21,266,235. The amount of the last dividend was
$466,520; and the average semi-annual dividends of all the banks is a fraction over
3£ per cent.
AN ABSTRACT F R O M T H E R E T U R N S M A D E TO T H E G E N E R A L A S S E M B L Y AT T H E OCTOBER S E S S IO N ,
A. D .,

1852,

BY T H E S E V E R A L BANKS IN T H E STA TE O F R H O D E IS L A N D .

Banks and location.

American, Providence
A rc ad e ........................
Bank of A m erica.. . .
Bank of Commerce..
Blaekstoue C a n al.. .
C ity ..............................
Com m ercial...............
Eagle............................
Exchange.....................
G lo b e..........................
High S tr e e t...............
Manufacturers’............
Meehan. M anuf.. . .
Mechanics’....................
Merchants’...................
N atio n al.....................
Bank of N. America..
P a w tu x e t...................
Phenix.........................
Providence...................
Roger Williams.........
State B ank.................
Traders’. ......................
U n io n ..........................
Weybosser...................
Smithfield Lime Rock
Merchants’, Newport.
N. E. Commercial . . .
Newport......................
Newport Exchange...
Rhode Island Union .




Capital stock
actually
paid in.
§ 8 1 3 ,8 0 0
6 0 0 ,000
100,000
868/700
500,000
219,800
470,44 0
500,000
5 0 0 ,000
5 4 2 ,950
120,000
500,000
186,960
5 0 0 ,000
5 0 0 ,000
140,000
500,000
150,000
300,000
5 0 0 000
4 9 9 ,9 5 0
150,000
200,000
5 0 0 ,000
4 0 0 ,000
200,000
100,000
75,000
120,000
60,000
165,000

Bills in
circulation.
$ 8 1 ,2 6 2 00
7 0 ,5 5 2 00
60,4 33 00
1 (5 ,4 2 6 00
2 4 9 ,977 00
6S.952 25
5 8 ,5 9 8 00
5 0 ,5 6 3 25
7 5 ,5 0 0 00
72 ,0 5 8 00
29,2 0 2 00
59,8 1 2 00
3 8 ,4 0 0 50
54,421 00
26,6 6 7 00
138,954 75
6 3 ,1 0 0 00
3 7 ,3 4 9 00
71,4 2 8 00
1 3 9 ,700 00
5 7 ,0 3 0 00
84,951 00
5 0 ,7 1 0 00
26,3 7 9 00
43,7 7 7 25
6 5 ,4 9 4 00
53,6 9 9 00
29,347 00
4 8 ,6 9 4 25
28,3 4 6 00
4 4 ,3 2 8 00

Specie
actually in
bank.
$ 1 1 ,0 8 6 56
10,500 06
4,708 21
12,414 88
4 0 ,6 0 0 00
5,671 35
5,788 74
3,102 36
10,973 01
14,299 68
1,901 79
12,448 10
2,300 00
5,0 0 4 22
19,041 86
16,271 25
10,000 00
2,502 16
3,832 36
32,782 45
21,808 24
2,121 87
6,124 72
8,300 00
5,141 30
2,851 57
9,2 2 4 12
3,703 52
2,961 57
4,321 33
4,187 44

Largest ain’t
Av. p. c. of indebted’s
semi- ol'any person
annual.
or firm.
$ 42,000 00
n
si
32,000 00
14,000 00
n
35,500 00
n
3
26,050 00
4
8,000 0 0
4
29,000 00
31.953 90
8*
45,900 00
31
67,675 71
n
10,000 00
H
46,413 00
H
21,000 00
S i
3
39,000 00
4
88,000 00
10,000 00
H
S i
38,500 00
4
8,250 00
4
19,600 00
4
90,100 00
45,482 00
31
4
12,500 00
4
20,765 00
3
41,733 00
31
20,270 00
4
27,500 00
31
11,574 0 0
35,600 00
31
3
62,901 00
3
8,840 00
14,000 00
31

224

Journal o f Banking, Currency, and Finance,
Capital stock
actually
paid in.

Ranks and location.

Rhode Island..............
Traders’........................
Smitlifield Ex, Smith’d
G lobe...........................
Smithfield U n io n .. . .
Village.........................
Bristol, Bristol............
Com m ercial...............
E a g le ..........................
Freem en's....................
Centreville, W arw ick.
W arw ick.....................
Citizen’s, Cumberland.
Cumberland.................
Railroad.......................
Woonsocket Falls . . .
Hope, W a rre n ...........
W arren........................
Landholders’, S.Kingsto w n ........................
South County.............
Wakefield...................
Narragansett, North
Kingstown . . . . . . .
North K ingstow n.. . .
N. E. Pacific, If. Proy.
N. Providence...........
People’s .....................
Hopkintou, W esterly,
Phenix.........................
Washington...............
Citizen’s Un’n,Scituate
Cranston, Cranston . .
Exeter, E xeter...........
Fall River Union, Ti­
verton ...................
Franklin, Gloucester..
Mt. Vernon, F o s te r...
Coventry, Coventry..
K ent.............................
Rhode Island Central,
E. Greenwich..........
Granite, Burrillville. .

Bills in
circulation.

47,961
48,294
40,279
69,316
23,081
20,439
7,973
17,262
13,197
26,901
26,753
5,981
37,836
40,825
30,034
46,091
29,539
44,551

150,000
74,620
99,500

32,718 00
81,127 00
31,003 00

1,578 18
1,480 50
2,360 83

4

50,000
75,000
128,000
110,850
100,000
50,000
100,000
150,000
40,000
25,000
23,076

28,404
45,469
64,884
37,079
49,130
11,720
34,078
37,460
19,010
11,567
17,060

00
00
50
00
00
00
00
00
00
00
00

5,777
6,072
2,987
5,134
5,107
821
3,780
4,188
3,175
2,508
2,173

99
59
26
19
67
28
75
26
70
84
85

4
4
4
4
4
3
3

199,850
38,000
60,000
60,000
40,000

83,598
22,263
25,535
25,688
14,206

00
00
00
06
00

6,567
2,270
2,225
1,755
3,048

75
83
84
47
76

2,395 44
5,025 12

25,239 00
23,651 00

6,064
1,888
4,029
1,417
4,140
3,582
2,633
1,640
1,312
4,200
5,578
1.360
1,649
2,980
614
2,225
1,581
1,658

86
17
78
72
80
73
00
02
87
00
08
32
94
00
01
52
68
80

Largest am’i
A v.p. c. of indebted’s
semi­ ol any person
or firm.
annual.

100,000
60,000
60,000
100,000
84,400
60,000
150,000
52,500
50,000
65,000
50,000
25,000
47,425
100,000
77,250
125,000
125,000
150,000

81,960
37,400

00
50
00
00
00
00
00
00
00
00
00
00
00
00
00
75
00
25

Specie
actually in
banks.

3
5
4|
4
3|
3
3
3
4
4
u
H

4
4
3|
4
3|
4

25,328
15,200
12,131
24,600
25,000
23,000
58,644
5,000
18,460
8,000
7,100
5,200
6,800
18,000
16,500
17,000
26,840
13,000

15
00
38
00
00

00
00
00
00
00
00
00
00
00
00
00
00
00

24,126 00
10,750 00
8,854 75

4

12,550
11,000
10,850
11.458
6,642
3,250
12,772
31,150
5,267
14,231
3,600

00

4
4

23,000
6,016
6,210
9,500
6,000

00
00
30
00
00

3
4

8,000 00
10,500 00.

Si
Si

3f
4

SI
3
Si

00
00
00
71
37
00
84
00
73
23

T o t a l ......................$14,037,441 $3,322,314 2G $414,970 02
The subjoined table shows the total resources, liabilities, etc., of the seventy banks
enumerated in the preceding tab le :—
L IA B IL IT IE S O F T H E BA N K S I N R H O D E ISLA N D .

Capital stock paid in ...............................................................
Bills in circulation.......................................................................................
Deposits on interest...................................................................................
Deposits not on in te re s t...........................................................................
Debts due to other banks..........................................................................
Dividends unpaid.......................................................................................
Net profits on hand..............................................................
Total liabilities,




$14,037,441
3,322,314
375,783
1,748,341
892,108
50,757
839,489

00
26
65
98
38
12
10

$21,266,235 49

Journal o f Banking, Currency, and Finance.

225

R E SO U R C E S .

Debts due from directors.........................................................................
Debts due from other stockholders.........................................................
Debts due from all others........................................................................
Total discounts...............................................................................
Specie actually in banks............................................................................
Bills of other banks...................................................................................
Deposits in other b anks............................................................................
Amount of its own stock held by the b a n k ..........................................
Stock in other banks, and other s to c k s.................................................
Heal e s ta te ..................................................................................................
Other property............................................................................................
Total resources...............................................................................
Increase of capital stock since last return ...........................................
Amount of last dividend....................................................
Amount of suspended p a p e r ..................................................................
Reserved profits a t the time of the last dividends..............................
Amount loaned on pledges of stock in the bank..................................
Debts due and not paid .............................................................................
Amount of bills in circulation under $5.................................................
Largest amount of indebtedness of any one person or firm .............
Average semi-annual dividend of banks in Providence......................
Average semi-annual dividend of banks out of Providence.............

$754,304 03
769,349 91
17,213,439 57
$18,736,093
414,970
726,039
948,313
42,316
115,833
258,923
22,757

51
02
77
91
30

98
12
10

$21,266,235 49
$1,042,940
466,520
47,324
650,792
428,540
402,451
995,202
90,100

40
26
23
89
52
58
79
00

3 839-1,300
3 547-860

CONDITION OF TH E BANKS OF BALTIMORE.

The first Monday in January in each year is the day fixed by law for the Banks in
the State of Maryland to make up a statem ent of their respective conditions, which
are transmitted to the State Treasurer a t Annapolis, the seat of government.
The following table gives a condensed view of the several reports for each bank,
and the aggregate of the most important items. We have added the aggregate of
the returns made for several years b a ck :—
C O N D EN SED ST A T E M E N T O F T H E BA N K S O F T H E C IT T O F B A L T IM O R E O N T H E T H IR D OF
JA N U A R Y ,

Banks.

Merchants’.......................................
Baltimore.........................................
Union......................................... ..
Mechanics’........................................
Commercial end Farmers’............
W estern ...........................................
Farm ers and Merchants.................
Chesapeake......................................
M arine.............................................
Franklin...........................................
Citizens’............................................
January
“
“
“
“
“

3,
5,
6,
7,
1,
1,

1853 ............................
1852 ............................
1 8 5 1 ............................
1850 ............................
1849 ............................
1848 ............................
4, 1847 ............................
5, 1846 ............... .........

“
“
VOL. X X V III.----NO. II.




___
___
___
___
___
___

1853.

Capital.

Investments.

$1,500,000
1,200,000
916,350
600,625
594,884
512,560
400,000
393,560
311,486
310,000
301,850
250,000

$25,000 00
100,745 51
116,888 04

7,141,461
6,974,646
6,971,852
6,971,681
15

7,264
69,406
20,000
114,889
147,333
85,004
7,500
2,037
$686,069
622,451
754,025
698,669
607,227
521,116
647,200
856,697

60
05
00
88
78
27
00
52

Discounts.

$2,879,432
1,889,445
1,694,104
1,315,944
1,542,964
893,421
954,693
584,505
789,627
603,029
543,454
600,586

14
80
07
47
03
9S
98
94
74
85
81
34

65 $14,291,221 15
14
11,428,509 81
67
11,783,786 29
21
10,924,113 07
94
9,797,417 21
00
10,699,963 0 0
00
10,082,235 00
00
10,143,299 00

Journal o f Banking, Currency, and Finance.

226

Banks.
Merchants’.......................................
Baltimore......................................... ___
Union...............................................
Farm ers and Planters’ ................. ___
Mechanics’.......................................
Commercial and Farm ers’........... ___
W e s te rn .........................................
Farmers and Merchants’...............
Chesapeake....................................
Marine. .........................................
F ra n k lin ......................................... ___
Citizens’. ....................................... ___
January
“
“
“
“
“
“
“

The

3, 1853............................
5, 1852............................
6 ,1 8 5 1 ............................
7, 1850............................
1, 18-19............................
1,1818..............................
4 ,1 8 1 7 ............................
5, 1816............................

A m e r ic a n

Specie.
260,411 00
298,925 77
863,143 67

80,230 67
136,610 47
§2,991,910
1,967,561
2,310,171
2,113,758
1,781,911
1,834,167

44
67
31
49
11
00

1,861,500 00

Deposits.
$526,606 64
670,778 32
686,782 58
616,956 69
1,007,413 52
641,558 89
511,001 19
213,963 08
533,100 03
303,328 15
175,601 47
274,515 48

Circulation.
$452,145
251,911
289,169
399,335
428,187
132,782
405,901
217,315
252,328
114,219
142,683
233,083
$3,328,058
2,180,667
2,281,918
2,073,588
1,852,108
2,104,712
1,986,248
1,259,140

$6,021,709
3,915,977
4,528,966
3,618,817
2,827,896
3,123,859
3,261,999
8,113,750

04
09
36
32
81
00
00
00

remarks, in publishing the foregoing statem ent, as follows :—

“ They present a most gratifying evidence of their financial strength and stability,
and afford conclusive evidence of the progress of the trade of the city and its greatly
increasing prosperity.
“ They give satisfactory proofs of the wisdom and advantage to every branch of
trade, and of the solid security of the present system of banking in this State, which
contrasts so favorably with that pursued in some of the States.”
MODE OF MAKING ANI) RECEIVING DEPOSITS IN BANKS.
G e o rg e N. C o m ee , Esq., has addressed a circular to the Merchants and Bankers of

Boston, in relation to tire present Bystem of receiving and making deposits by the Mer­
chants’ and Banking corporations of that city, (the same as practised in all our com­
mercial cites.) Me . C om ee has devoted himself, for a number of years, to mercantile
education, and is, beyond all question, one of the most thorough and accomplished ac­
countants in the United States. In his efforts to advance the cause of commercial ed­
ucation, which have, we believe, been eminently successful, lie has aimed to “ improve
the condition and remove temptations from all classes of clerks.” In the subjoined
circular, M e . C om ee points out what he conceives to be some of the evils of the pres­
ent system of Banking, in the hope of inducing a better.
H e says, “ For example :—The book-keeper, or some other clerk, the porter or boy,
in a mercantile establishment, delivers the deposit a t the bank, the receiving-teller
merely putting down the date and amount on the small pass-book. Here are avenues
open to fraud. The clerk, tem ptation being put in his w a y , m ight easily imitate the
figures of the receiving-teller, and, putting the money in his own pocket, await the
denouement, which m ight not occur for several days ; and then, boldly assorting that
he had made the deposit, m ight even produce an innocent witness, who saw him in
the bank at that time. His word is as good as the teller’s. I t is more difficult to
prove a negative than an affirmative. On the other hand a needy teller might receive
the deposit, make a slight variation in his figures upon the pas3-book, put the money
in his own pocket, and eventually deny the receipt. In either case, two parties would
be open to suspicion, and if it were adroitly managed, the rogue would be as likely to
escape as the victim. Very frequently, foreign money in a separate package, is part
of the deposit, which is often thrown into the drawer by the receiving-teller without
counting, thus opening tem ptation to the merchant’s and the bank clerk either to ab ­
stract or exchange bills. W here the responsibility would rest in such an event, the
amount deposited having been entered on the pass-book, is a subject for reflection.




Journal o f Banking, Currency, and Finance.

22

1

A t the end of each month, the merchant’s pass-book, containing the o n ly e vid e n c e of
his having made any deposit whatever, is left a t the bank “ to be made up,” and whan
so made up, the checks drawn by the merchant during the month, many of which have
been made payable to o r d e r , are placed in the pass-book, which is then ready for the
first person who represents that the merchant sent him for it. A boy out of the street
has been known, at request, to go into a bank for M r.--------- ’s book, and receive it,
unquestioned, with all the checks for the m onth; the endorsement of those to order,
perhaps, being the only evidence the merchant has of having made any such payment.
W hat I propose as a remedy for a part of this evil is, th a t a blank form of receipt
should be prepared; a certain number of these receipts should be signed by the cashier
and handed to the receiving-teller each morning, when, upon receipt of the deposit,
all the teller would have to do would be to write on the prepared blank the name of
the depositor, date and am ount; this would then be handed to the deliverer of the de­
posit, as his evidence of the transaction. A t the end of the month, the merchant would
send all those receipts to the bank, receiving in exchange his checks and a new re ­
ceipt for the balance remaining on hand. Or, if preferable, the merchant’s book-heeper
or the person making up the deposit, m ight fill out a corresponding receipt for tho re­
ceiving-teller to sign. These "receipts m ight be bound in a book, if desirable. I do
not pretend to offer the precise mode or form of doing this, but m erely throw out the
suggestion for your consideration, believing the subject to be one of such importance
to the mercantile community as to excuse the liberty I have taken in thus addressing
you.”
SAVINGS BANKS IN RHODE ISLAND.

The subjoined table, which shows the number of Depositors, and the amount of
their Deposits in the various Savings Banks of Rhode Island, is derived from the re ports of these institutions to the General Assembly of th at S ta te :—
Amount.
$1,127,007
118,896
291,813
841,819
337,209
246,822
19,383
113,998
22,131
112,029

Providence Institution for Savings.
People’s Savings Bank, Providence..
Newport Institution for Savings........
Bristol Institution for Savings.......... .
Pawtucket Institution for Savings. . .
Warwick Institution far Savings........
E. Greenwich Institution for Savings
Woonsocket Institution for S avings..
Wakefield Institution for Savings . . .
Tiverton Savings Bank.........................
Total............................................

67
26
25
05
43
36
52
17
90
51

No.
6,827
651
1,512
4 30
1,579
944
143
800
139
872

§2,474,109 12

13,396

CONDITION OF SAVINGS BANKS OF CONNECTICUT.

From the latest returns of the Savings Banks in Connecticut we abstract the sub­
joined statem ent of the amount on deposit, and the annual dividends, in each of twenty
Savings Banks in th at S ta te :—
Deposits.
P. c.
Deposits. P. c.
Hartford................. . . .
$1,958,675 a t 6 | Stonington............... ----$46,182 at 5 }
Norw ich.................
1,115,169
6 D anbury................... ___
45,000
5
Middletown............
938,374
6 Salisbury................. ___
40,552
5
New H aven...........
835,112
5-1-' Essex......................... ___
5
38,207
N ew L ondon.........
6 W aterbury............... ___
28,408
5
550,000
B ridgeport.............
6 I L itchfield................. ___
24,550
5
Willi inantic............
D erby.....................
Norwalk.................

l

56’l60

5 | Farm ington.............

15 S1 t
1S 09,8
10422

Savings Banks in Plymouth and Seymour were incorporated May, 1842.




6

5

Journal o f Banking, Currency, and Finance.

228

U N ITED STATES TR E A SU R E R ’S STA TEM EN T, DECEMBER 27 , 1852.
tr ea su r er ' s statem ent , s h o w in g t h e amount at h is c r ed it in t h e t rea su r y , w it h

ASSISTANT TREASURERS AND DESIGNATED DEPOSITARIES, AND IN THE MINT AND BRANCHES,
BY RETURNS RECEIVED TO MONDAY, DECEMBER 2 7 , 1 8 5 2 ; THE AMOUNT FOR WHICH DRAFTS
HAVE BEEN ISSUED, BUT WERE THEN UNPAID, AND THE AMOUNT THEN REMAINING SUBJECT
TO DRAFT.

SHOWING, ALSO, THE AMOUNT OF FUTURE TRANSFERS TO AND FROM DEPOSITA­

RIES, AS ORDERED BY THE SECRETARY OF THE TREASURY.
Drafts
heretofore draw n
Am ount on

Treasury of United States, W ashington . .
Assistant Treasurer, Boston, M ass...............
Assistant Treasurer, New York, N. Y ........
Assistant Treasurer, Philadelphia, P a .........
Assistant Treasurer, Charleston, S. C .........
Assistant Treasurer, New Orleans, La........
Assistant Treasurer, St. Louis, Mo..............
Depositary a t Buffalo, New Y ork................
Depositary a t Baltimore, M d........................
Depositary a t Richmond, Y a ......................
Depositary a t Norfolk, V a............................
Depositary a t Wilmington, N. C..................
Depositary a t Savannah, Georgia...............
Depositary a t Mobile, A labam a.................
Depositary a t Nashville, Tennessee.............
Depositary a t Cincinnati, Ohio.....................
Depositary at Pittsburg, P ennsylvania.. . .
Depositary a t Cincinnati, (la te ) ...................
Depositary at San Francisco........................
Depositary at Dubuque, Iow a......................
Depositary at L ittle Rock, Arkansas, . . . .
Depositary a t Jeffersonville, In d ia n a .........
Depositary at Chicago, Illinois.....................
Depositary at Detroit, Michigan..................
Depositary at Tallahassee, F lorida............
Suspense account..........................$2,386 66
Mint of the U. S., Philadelphia, P a .............
Branch Mint of U. S., Charlotte, N. C . . . .
Branch Mint of U. S., Dalilonega,Ga.........
Branch Mint of U. S., New O rle an s,L a...

$ 1 6 2 ,5 5 0
1 ,8 0 1 ,6 1 7
2 ,5 1 8 .2 0 9
6 9 7 ,1 9 0
4 5 .6 2 0
2 1 6 ,8 3 1
1 7 1 ,0 9 6
3 0 ,8 2 8
4 6 ,0 2 3
2 8 ,9 4 9
1 1 ,6 2 7
1 ,7 5 2
5 0 ,1 8 6
2 3 ,7 3 2
1 6 ,3 6 5
5 6 ,9 3 5
2 ,9 2 7
3 ,3 0 1
8 0 0 ,6 8 1
974
1 3 ,4 2 7
1 9 ,4 4 9
6 0 ,1 1 8
6 4 ,6 5 4
1 ,6 5 4

09
62
80
90
16
89
39
80
23
61
55
48
71
44
39
69
56
37
41
90
15
11
40
19
95

5 ,6 1 8 ,4 1 0
3 2 ,0 0 0
2 6 ,8 5 0
5 0 0 ,0 0 0

00
00
00
00

$ 3 7 ,8 1 7
2 0 7 ,3 9 9
4 5 1 ,0 4 4
4 2 ,8 9 7
4 0 ,0 3 5
2 1 6 ,0 7 1
1 5 2 ,6 5 9
91
3 8 ,4 6 6
185
3 ,4 8 0
638
17
1 0 ,3 8 8
9 ,0 3 7
4 ,3 2 1
2 ,8 1 8

48
01
73
35
88
20
68
79
38
98
00
53
46
30
29
91
22

1 7 5 ,5 8 8
974
8 ,0 9 5
1 4 ,0 9 1
3 ,6 7 3
1 2 ,6 2 4
1 ,3 1 6
2 ,3 8 6

10
90
15
93
97
85
68
G6

A m ount
61
51
06
56
28
69

$ 1 2 4 ,7 3 2
1 ,5 9 4 ,2 1 8
2 ,0 6 6 ,2 6 5
6 5 4 ,2 9 3
5 ,5 8 4
760
1 8 ,4 3 6
3 0 ,7 3 7
7 ,5 5 6
2 8 ,7 6 3
8 ,1 4 7
1 ,1 1 8
, 5 0 ,1 6 9
1 3 ,3 4 4
6 ,3 2 8
5 2 ,6 1 3
109
3 ,301
6 2 5 ,0 9 3

07
85
63
55
95
26
14
10
78
34
37
31

5 ,3 3 2
5 ,3 5 8
4 6 ,4 4 4
5 2 ,0 2 9
338

00
08
43
34
27

5 ,6 1 8 ,4 1 0
3 2 ,0 0 0
2 6 ,8 5 0
5 0 0 ,0 0 0

00
00
00
00

11

T o t a l ............................................
D e d u c t s u s p e n s e a c c o u n t.

12 1 1 ,5 7 8 ,3 3 1 8 3
2 ,3 8 6 6 6

A d d d iff e r e n c e in tr a n s f e r s

.

$ 1 1 ,5 7 5 ,9 4 5 17
1 ,5 9 0 ,0 0 0 0 0

N e t a m o u n t s u b j e c t t o d r a f t ................................................................................$ $1 13 3,1,16 65 5,9,94 45 5 1717
T r a n s f e r s o r d e r e d t o t r e a s u r y o f t h e U . S ., W a s h in g to n , D . C . . . .
T r a n s f e r s o r d e r e d t o A s s i s t a n t T r e a s u r e r , N e w O r le a n s , L a ,
T r a n s f e r s o r d e r e d t o D e p o s i t a r y a t N o r f o lk , V i r g i n i a ...........

$ 6 0 0 ,0 0 0 0 0
8 0 0 ,0 0 0 0 0
2 4 0 ,0 0 0 0 0
. $ 1 ,6 4 0 ,0 0 0 0 0

T ra n s fe rs o rd e re d fro m A s s is ta n t T re a s u re r, P h ila d e lp h ia , P e n n ..




$ 5 0 ,0 0 0 0 0

Railroad, Canal, and Steamboat Statistics.

228

R EC EIPTS OF GOLD 1ST GREAT BRITAIN.
The

Glasgow Gazette

g iv e s th e a n n e x e d s t a t e m e n t , s h o w in g t h e e s t i m a t e d a m o u n t o f

g o ld r a i s e d in C a lifo rn ia a n d A u s t r a l i a , o f t h e g o ld i m p o r t e d th e n c e in to G r e a t B r i t a i m
o f g o ld c o in e d in G r e a t B r ita in , a n d o f g o l d c o in t a k e n fr o m t h e B a n k o f E n g l a n d ,
a n d r e m a in in g in c ir c u la tio n fr o m 1 8 4 9 t o 1 8 5 2 , d i s tin g u is h in g t h e a m o u n ts e a c h y e a r :

MOVEMENTS OF NEW GOLD IN GREAT BRITAIN.
CALIFORNIA--- (GOLD FIRST IMPORTED 21ST JUNE, 1849.)

Imported.

Gold Raised.

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

£6,000,000
12,000,000
17,000,000
8,000,000

£238,360
698,590
1,277,800
1,290,645

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

£43,600,000

£3,505,395

1849 .....................................................
1850 .....................................................
1 8 5 1 ......................................................
1 8 5 1 .....................................................

A USTR ALIA— (G O L D F IR S T IM P O R T E D I N OCTOBER,

1851.

Gold Raised.

Imported.

1 8 5 1 ..................................................... ...........
1852 ...................................................... ...........

£1,000,000
3,800,000

£35,000
3,713,000

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

£4,800,000

£3,748,000

Aggregate total........................... ...........
1849 ...................................................
1850 ...................................................... ...........
1 8 5 1 .....................................................
1852 (nine months)..............................

£47,800,000

£7,253,395

Gold coined in
Great Britain.

Coin drawn
from bank.

1,429,000

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

£1,337,000
3,849,000
5,146,000
6,183,000
£15,516,000

FINANCES AND DEBT OF KENTUCKY,
T h e a n n e x e d s t a t e m e n t o f t h e fin a n c e s a n d p u b lic d e b t o f K e n t u c k y is d e r iv e d
fr o m t h e r e p o r t o f t h e T r e a s u r e r o f t h a t S t a t e :—
T o t a l p u b lic d e b t , D e c e m b e r 8 1 , 1 8 5 0 ..........................................................................
O f w h ic h w a s p a i d in t h e y e a r 1 8 5 1 .............................................................................

$ 4 ,4 9 7 ,6 3 7
2 5 0 ,0 0 0
$ 4 ,2 4 7 ,6 3 7

A n d t h e n e w l ia b iliti e s s in c e c r e a t e d — b o n d s is s u e d to t h e S o u t h e r n
B a n k o f K e n t u c k y ..................................................................................................... . . .
B o n d s h e ld b y t h e B o a r d o f E d u c a t i o n ........................................................................
L i a b i l i t y o n t h e C r a d d o c k F u n d .......................................................................................

1 5 0 ,0 0 0
1 ,3 2 6 ,6 7 0
2 ,0 0 0

T o t a l, D e c e m b e r 3 1 s t, 1 8 5 1 .................................................................................

$ 5 ,7 2 6 ,4 0 7

T h is d e b t c o n s is ts o f —
T h i r t y - y e a r b o n d s a t 5 p e r c e n t i n t e r e s t . .....................................................................
“
“
6
“
“
.....................................................................
S o u th e r n B a n k b o n d s ( i n t e r e s t p a i d b y t h e b a n k ) ................................................
B o n d s h e l d b y B o a r d o f E d u c a t i o n ...............................................................................
M is c e lla n e o u s b o n d s ..................................................................................................................

$ 5 8 6 ,0 0 0
2 ,6 5 4 ,5 0 0
1 5 0 ,0 0 0
1 ,3 2 6 7 7 0
9 ,0 3 7

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

$ 5 ,7 2 6 ,3 0 7

I t a p p e a r s b y t h i s t h a t t h e p u b lic d e b t h a s b e e n in c r e a s e d $ 1 ,4 7 8 ,7 7 9 sin c e D e c e m ­
b e r , 1 8 5 0 , c a u s e d p r in c ip a lly b y a n is s u e o f b o n d s to t h e B o a r d o f E d u c a tio n .




Journal of Banking, Currency, and Finance.

230

D EB T AND F IN A N C E S O F N E W Y O RK CITY.
T h e s u b jo in e d s t a t e m e n t o f t h e a c t u a l c o n d itio n o f t h e fin a n c e s o f t h e C i t y o f

New

Y o r k , m a d e u p t o t h e 3 1 s t D e c e m b e r , 1 8 5 2 , is d e r i v e d f r o m th e m e s s a g e o f M r. W

es-

t e r v e l t , t h e m a y o r :—

PERMANENT CITY DEBT, REDEEMABLE FROM THE SINKING FUND, JAN. 9 , 1 8 5 3 .
5
p e r c e n t P u b l i c B u ild in g S to c k , r e d e e m a b l e 1 8 5 6 ...................................
5
“
B u ild in g L o a n S to c k , N o . 3, r e d e e m a b l e 1 8 7 0 ..............................
5
“
F i r e I n d e m n i t y S to c k , r e d e e m a b le 1 8 6 8 ...........................................
6
“
W a t e r L o a n S to c k , r e d e e m a b l e 1 8 5 8 ....................................................
5
“ W a t e r L o a n S to c k , r e d e e m a b l e 1 8 6 0 .....................................................
5
“ W a t e r L o a n S to c k , r e d e e m a b l e 1 8 7 0 ....................................................
5
“ W a t e r S to c k o f 1 8 4 9 , r e d e e m a b l e 1 S 7 5 ...............................................
5
“ W a t e r L o a n S to c k , r e d e e m a b l e 1 8 8 0 ....................................................
5
6 p e r c e n t C r o to n W a t e r S to c k , r e d e e m a b l e 1 8 9 0 ................................
7 p e r c e n t W a t e r L o a n S to c k , r e d e e m a b l e 1 8 5 7 ...............................................

$ 5 1 5 ,0 0 0
7 5 ,0 0 0
4 0 2 ,7 6 8
3 ,0 0 0 ,0 0 0
2 ,5 0 0 ,0 0 0
3 ,0 0 0 ,0 0 0
2 5 5 ,6 0 0
2 ,1 4 7 ,0 0 0
1 ,0 0 0 ,0 0 0
9 9 0 ,4 8 8

T o t a l d e b t .......................................................................................................................
S to c k s h e l d b y t h e C o m m is s io n e rs o f t h e S in k i n g F u n d fo r t h e r e ­
d e m p tio n o f t h e c ity d e b t ..........................................................................................
R e v e n u e B o n d s p a y a b l e in 1 8 5 3 .................................................................................
A d d i t i o n a l a s s e ts b e lo n g in g t o S in k i n g F u n d , in c lu d in g c a s h in B a n k ,
s a y .........................................................................................

$ 1 3 ,8 8 5 ,8 5 6
3 ,0 9 2 ,3 4 5
2 0 0 ,0 0 0
9 0 0 ,0 0 0
$ 4 ,1 7 5 ,3 4 5

W h ic h d e d u c t e d fr o m $ 1 3 ,8 8 5 ,8 5 6 , le a v e s —
T o t a l c i t y d e b t y e t t o b e r e d e e m e d ..........................................................................
A m o u n t o f d e b t , J a n u a r y 1, 1 S 5 2 ............................................................................
D e c r e a s e in 1 8 5 3 ...................................................................................................................
F u n d e d d e b t r e d e e m a b l e f r o m t a x a tio n , a n d p&J a b le in a n n u a l in ­
s t a l l m e n t s o f $ 5 0 ,0 0 0 ....................................................................................................

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

T A X E S COLLECTED IN T H E CITY O F N E W Y O R E IN 1 8 5 2 .
T h e s u b jo in e d s t a t e m e n t o f t h e a m o u n t o f ta x e s c o lle c te d in t h e c i t y o f N e w Y’ o r k
d u r i n g t h e y e a r e n d in g D e c e m b e r 3 1 s t, 1 8 5 2 , is d e r iv e d fr o m t h e b o o k s o f t h e C o lle c ­
to r .

T h e t i m e fo r c o m m e n c in g t o re c e i v e ta x e s w a s t h e m o n th o f A u g u s t :—

A u g u s t .....................................
$ 1 ,1 5 7 ,6 4 1 0 7 I N o v e m b e r ................................
S e p t e m b e r ..............................
2 4 8 ,2 3 1 8 7
D e c e m b e r ................................
2 8 6 ,0 3 3 4 7 |
O c t o b e r ...................................
T o t a l ............................................................................................................................
A g g r e g a t e a m o u n t o f ta x e s r e c e i v e d in t h e y e a r 1 8 5 1 ..................................

$ 9 6 5 ,6 1 3 0 9
3 1 2 ,9 2 9 91
---------------------$ 2 ,9 7 0 ,6 4 5 4 1
2 ,5 5 1 ,5 3 1 3 3

I n c r e a s e in 1 8 5 2 ......................................................................................................

$ 4 1 9 ,1 1 4 0 8

O n t h e f ir s t d a y t h e b o o k s w e r e o p e n e d , t h e s u m o f $ 8 ,8 1 3 7 2 w a s a llo w e d a s d is ­
c o u n t.

T o g iv e a n i d e a o f t h e v a s t a m o u n t o f m o n e y r e c e i v e d d a ily , w e s u b jo in a li s t

o f s o m e o f t h e h e a v i e s t r e c e i p t s in t h e m o n t h s o f A u g u s t a n d N o v e m b e r :—
A u g u st

“
“
“

6

7
9

10

$ 3 8 4 ,2 4 2
1 0 6 ,6 7 6
6 9 ,9 3 4
1 1 0 ,8 8 9

91 I N o v e m b e r 2 6 .............................
48
|
“
2 7 .........................
13
I
“
2 9 .........................
65
I
“
3 0 .........................

T o t a l a m o u n t r e c e i v e d in e i g h t d a y s .
T h e d is c o u n t a llo w e d o n a l l t a x e s

p a id o v e r p rio r to

$ 5 9 ,5 1 4
1 0 2 ,3 8 2
1 1 6 ,1 5 7
2 7 5 ,1 4 0

98
61
58
47

$ 1 ,2 2 4 ,9 3 8 81
th e 1 s t N o v e m b e r , 1 8 6 2 ,

a m o u n te d t o t h e s u m o f $ 3 1 ,0 0 5 , a n d th e a m o u n t r e c e i v e d a s i n t e r e s t o f 2 a n d 1 2
p e r c e n t, o n u n p a i d ta x e s in D e c e m b e r , is $ 1 0 4 ,0 6 6 04.




Journal o f Banking, Currency, and Finance.

231

FINANCES AND DEBT OF TE N N E SS E E .
T h e s u b jo in e d s t a t e m e n t e x h ib its t h e p u b lic in d e b te d n e s s o f t h e S t a t e o f T e n n e s s e e
o n t h e 1 s t o f O c to b e r , 1 8 5 2 : —
T o t a l i n d e b te d n e s s o f t h e S t a t e , O c to b e r 1, 1 8 5 1 ..........................................
C a p i t a l b o n d s a u t h o r i z e d to b e is s u e d u n d e r t h e a c t o f t h e l a t e G e n ­
e r a l A s s e m b l y ...............................................................................................................

$ 3 ,6 5 1 ,8 5 6 6 6

I n d e b t e d n e s s o f t h e S t a t e .............................................................................

$ 3 ,9 0 1 ,8 5 6 6 6

2 5 0 ,0 0 0 0 0

C O N T IN G E N T F U N D .

B o n d s is s u e d a s a lo a n t o t h e E a s t T e n n e s s e e a n d G e o r g ia R a i l r o a d .
“
“
“
“
“
V i r g i n i a R a i lr o a d .
“
“
“
G ib s o n a n d D y e r P l a n k - r o a d ........................
“
“
“
M e m p h is a n d C h a r le s to n R a i l r o a d _____

$ 3 5 0 ,0 0 0
3 0 0 ,0 0 0
2 5 ,0 0 0
2 4 0 ,0 0 0

00
00
00
00

A m o u n t lo a n e d t h e I n t e r n a l I m p r o v e m e n t C o m p a n ie s ..............
A m o u n t e n d o r s e d fo r N a s h v ill e a n d C h a t t a n o o g a R o a d , a s c a n b e a s ­
c e r t a i n e d fr o m t h e S e c r e t a r y o f S t a t e , i s .....................................................

$ 9 1 5 ,0 0 0 0 0
6 7 5 ,0 0 0 0 0

RECAPITULATION.
Actual debt.

Loan debt.

Endorsed debt.

Total.

$ 3 ,9 0 1 ,8 5 6 6 6

$ 9 1 5 ,0 0 0 .

$ 6 7 5 ,0 0 0

$ 5 ,4 9 1 ,8 6 6 66

IM PO R TS AND EX PO R TS OF SPECIE AT BOSTON.
W e a r e i n d e b t e d t o a n a u t h e n t i c s o u r c e f o r t h e s u b jo in e d s t a t e m e n t o f t h e i m p o r ts
a n d e x p o r t s o f s p e c ie , in e a c h m o n th o f t h e y e a r 1 8 5 2 :—

IMPORTS AND EXPORTS OF SPECIE IN 1 8 5 2 .
IMPORTS.

Gold.
$ 8 1 ,6 1 2
3 0 ,1 0 4
1 3 4 ,9 8 4
1 3 0 ,0 9 3
1 3 9 ,3 0 8
1 ,7 3 2
2 ,4 1 2
1 ,5 2 6

J a n u a r y ....
F e b r u a r y ...
M a r c h ..........
A p r i l ............
M a y .............
J u n e ...........

J u l y .............
A u g u s t ____
S e p te m b e r
O c to b e r. . .
N o v em b er.
D e c e m b e r ..
T o ta l

00
00
00
00
00
00
00
00

EXPORT3.

Silver.
$ 7 ,6 8 2 0 0
1 ,9 0 7 0 0
1 ,1 1 6 0 0
30 00
3 0 ,4 9 6 0 0
1 ,8 3 5 0 0
7 ,2 2 1 0 0
2 ,1 0 4 0 0
990 00

4 ,8 0 0 0 0
1 4 ,0 4 0 0 0
3 2 ,3 4 0 0 0

1 .0 9 6 0 0
2 ,0 3 0 6 2

$ 5 7 8 ,7 5 1 0 0

$ 5 6 ,5 0 7 6 2

Gold.
$ 9 2 ,6 2 8
3 6 6 ,9 2 9
4 3 ,4 0 0
900
2 2 2 ,8 4 2
4 5 3 ,9 9 0
5 8 6 ,1 8 5
3 0 7 ,4 0 0
3 0 8 ,1 1 3
423^500
1 5 4 ,2 6 0
3 9 7 ,7 1 8

00
83
00
00
60
50
00
00
00
00
00
80

$ 3 ,3 5 5 ,3 6 7 0 2

Silver.
$ 2 7 ,2 0 0 0 0
2 6 ,7 7 0 0 0
2 0 ,8 0 0 0 0
3 5 ,7 6 7 4 5
7 ,9 0 0 0 0
8 0 ,5 1 5 9 7
2 ,3 5 0 0 0

$ 1 5 2 ,3 0 2 4 1

REAL AND PERSONAL W EALTH OF ALBANY.
T h e s u p e r v is o r s o f t h e c i t y a n d c o u n t y o f A l b a n y h a v e f ix e d u p o n t h e f o llo w in g
r a t e o f a s s e s s m e n t :—

1st W ard . . . .
2d
“
____
3d
“
____
4 th “
....
6th “
6 th «
____

..

..

V alue of V alue o f perreal estate, sonal p ro p ’ty.
$ 7 7 8 ,2 3 5
$ 2 2 ,0 0 0
9 2 1 ,5 8 8
5 5 ,0 0 0
1 3 9 ,0 0 0
1 ,501 ^138
9 1 8 ,5 8 0
2 3 0 2 ,3 4 1
1 ,7 0 1 ,1 9 0
2 5 5 ,4 5 0

7 th
8 th
9 th
1 0 ih

V alue o f V alue o f p erreal e state, soual p ro p ’ty.
W a r d . . . . . $ 1 ,1 1 4 ,1 2 5
$ 8 5 ,2 0 0
____
8 2 0 ,1 6 0
“
2 0 ,0 0 0
“ ____ . . . 1 , 3 9 8 4 0 0
1 9 8 ,2 0 0
“
____ . . .
1 ,6 3 7 ,2 9 5
9 7 ,9 0 0

T o t a l ............. . . . $ 1 5 ,8 3 1 ,6 3 0 $ 4 ,0 7 3 ,6 7 1

T h e t o t a l a s s e s s e d v a l u e o f r e a l e s t a t e in t h e c i t y o f A lb a n y , a s a b o v e s t a t e d , is$ 1 5 ,8 3 1 ,6 3 0 , a n d o f p e r s o n a l p r o p e r t y $ 4 ,0 7 8 ,6 7 1 .




232

Journal o f Banking, Currency, and. Finance.

T h e e q u a l iz e d v a lu e o f r e a l e s t a t e is $ 1 4 ,2 4 8 ,4 6 7 ; o f t h e p e r s o n a l, $ 4 ,0 7 3 ,6 7 1 , s h o w ­
in g a t o t a l e q u a l iz e d v a lu a tio n o f $ 1 8 ,3 2 2 ,1 3 8 .
T h e a m o u n t t o b e r a i s e d fo r c ity e x p e n s e s is $ 1 5 2 ,6 0 0 , a n d $ 6 2 ,5 8 2 2 7 to w a r d s
j o i n t c i t y a n d c o u n ty e x p e n s e s , o r a t o t a l o f $ 2 1 6 ,0 5 5 9 4 . T h e r a t e o f a s s e s s m e n t
w ill a v e r a g e 1 0 8 J .
T h e to t a l n u m b e r o f a c r e s o f la n d a s s e s s e d in t h e c o u n ty is 3 0 S ,9 7 3 . T h e a s s e s s e d
v a lu a tio n o f r e a l e s t a t e is $ 1 0 ,1 2 1 ,5 8 4 ; o f p e r s o n a l p r o p e r t y $ 1 ,5 9 1 ,1 5 6 , s h o w in g a
t o t a l v a lu a tio n o f $ 1 1 ,7 1 2 ,7 4 0 , a n d a g r a n d t o t a l o f c i t y a n d c o u n ty o f $ 3 1 ,6 1 8 ,0 4 1 .
T h e t o t a l a m o u n t r a i s e d b y t a x in t h e c ity a n d c o u n ty f o r e x p e n s e s o f g o v e r n m e n t,
A c., is $ 2 8 1 ,4 9 7 .

BROOKLYN CITY DEBT, JANUARY 1, 1852.
T h e s u b jo in e d s t a t e m e n t o f t h e d e b t o f t h e c i t y o f B ro o k ly n , is d e r iv e d f r o m t h e
m e s s a g e o f t h e m a y o r , ( E . A . L ambert,) to t h e C o m m o n C o u n c il, J a n u a r y 3, 1 8 5 3 :—
T h e f u n d e d d e b t a m o u n ts t o ..................................
D e d u c t t h e a m o u n t t o t h e c r e d i t o f t h e C o m m is s io n e rs o f t h e
S in k i n g F u n d ..............................................................................................................

$ 1 ,1 2 9 ,5 4 0 4 2

T o t a l d e b t .........................................................................................................
D e c r e a s e o f d e b t d u r in g t h e p a s t y e a r , b e in g a c c u m u la tio n to t h e
S in k i n g F u n d ’............................................................................................................

$ 7 9 3 ,9 8 1 11

3 5 5 ,5 5 9 31

4 7 ,7 8 1 4 6

DEBT AND FINANCES OF BOSTON.
F r o m t h e in a u g u r a l a d d r e s s o f M r.

S eaver,

m ade Jan u a ry

3, 1853,

w e g i v e b e lo w

a c o n d e n s e d s t a t e m e n t o f t h e fin a n c ia l c o n d itio n o f t h e c ity o f B o s to n , a s f o l l o w s :—
T h e a m o u n t o f t h e c i t y d e b t o n t h e f i r s t o f M a y la s t , ( t h e c o m ­
m e n c e m e n t o f t h e p r e s e n t fin a n c ia l y e a r ,) w a s ....................................
T h e r e h a s b e e n p a i d o ff u p t o J a n . 1 , 1 8 5 3 ................................................

$ 1 ,9 0 1 ,4 5 5 4 4
1 5 4 ,9 4 6 0 5
$ 1 ,7 4 6 ,5 1 0 3 9

T o w h ic h is to b e a d d e d lo a n s a u t h o r i z e d fo r p u b lic la n d s , r e b u i l d ­
in g B o y ls to n S c h o o l-h o u s e , F a v i n g D e p a r t m e n t , e tc ..........................

1 7 3 ,1 5 0 0 0

L e s s to b e p a i d o ff b e tw e e n th is a n d f i r s t o f M a y n e x t ........................

$ 1 ,9 1 9 ,6 6 0 39
2 2 5 ,0 9 3 3 9
$ 1 ,6 9 4 ,5 8 7 0 0

T o w h ic h is t o b e a d d e d t o p a y o ff t h e l a s t i t e m o f $ 2 2 5 ,0 9 3 3 9 ,
a n e w lo a n fo r t h e d e fic ie n c y i n t h e m e a n s s p e c if i c a lly a p p r o ­
p r i a t e d f o r t h i s o b je c t, s a y ................................................................................
M a k in g t h e t o t a l a m o u n t o f d e b t , 1 s t M a y , 1 8 5 3 ...................................
B e i n g a n o m in a l r e d u c tio n o f ................................................................................

1 3 5 ,4 4 3 0 0
$ 1 ,8 3 0 ,0 0 0 0 0
7 1 ,4 5 6 6 4
$ 1 ,9 0 1 ,4 5 6 4 4

T h i s r e d u c tio n w i l l b e le s s e n e d i n c o n s e q u e n c e o f s o m e a d d itio n a l w a n t s f o r p a v in g ,
e e w e rs , A c., b e fo re t h e c lo s e o f t h e y e a r 1 8 5 3 , ( 1 s t M a y ,) to t h e e x t e n t o f s a y $ 5 0 ,0 0 0 ,
l e a v i n g a r e a l re d u c tio n o f t h e d e b t a t t h e c lo s e o f th e p r e s e n t f in a n c ia l y e a r , o f $ 2 1 ,0 0 0 .
T o m e e t t h e a b o v e d e b t , t h e r e is o n h a n d , s p e c i a l l y a p p r o p r i a t e d fo r t h a t o b je c t, b o n d s ,
n o te s a n d m o r t g a g e s , a m o u n tin g t o $ 1 ,0 0 7 ,6 8 9 2 7 , b e s id e a l l t h e p u b l i c l a n d s a n d
o t h e r d i s p o s a b le p r o p e r t y o f t h e c ity .
T h e c o s t o f t h e C o c h i tu a te W a t e r W o r k s , i n c lu d in g i n t e r e s t t o t h e 1 s t M a y n e x t,
w ill a m o u n t a t t h a t tim e t o s a y $ 5 ,3 S 5 ,5 8 7 8 9 . D u r in g t h e l a s t y e a r a f a v o r a b le lo a n
t o t h e e x t e n t o f £ 4 0 0 ,0 0 0 s t e r l i n g , h a s b e e n m a d e fo r t h e b a la n c e o f t h e t e m p o r a r y
W a t e r D e b t , a t 4 J p e r c e n t p e r a n n u m , p a y a b l e in t w e n t y y e a r s in L o n d o n , p a y m e n t
fo r w h ic h h a s b e e n a r r a n g e d a t a n e x c h a n g e o f 10 J p e r c e n t p r e m iu m .
I t w ill p r o b a b l y b e e x p e d i e n t to in c lu d e in t h e t a x t o b e a s s e s s e d o n t h e f ir s t o f
M a y n e x t, t h e w h o le o r a p a r t o f t h e d e fic ie n c y o f in c o m e fr o m t h e w a t e r w o r k s to
p a y t h e i n t e r e s t o n t h e c o s t, a n d fo r t h e i r e x te n s io n a n d i n c i d e n t a l e x p e n s e s o f c a r r y




233

Commercial Statistics.
ing

th e m o n , w h ic h w ill a m o u n t in t h e n e x t y e a r t o a b o u t $ 1 2 0 ,0 0 0 , t h e f o r m e r b e in g
e s t i m a t e d a t $ 1 9 0 ,0 0 0 , a n d t h e l a t t e r a t $ 2 1 0 ,0 0 0 .
I n t h e fin a n c ia l y e a r fr o m 1 s t o f M a y t o 1 s t o f M a y e a c h y e a r , t h e e x p e n s e o f th e
P o li c e a n d W a tc h w a s , s a y :
$ 8 6 ,6 0 6 2 8
1 8 5 0 - 5 1 ................ $ 3 8 ,2 9 4 2 6
18474 8 .........$ 2 9 ,2 9 2 6 8 $ 6 0 ,0 7 6 4 5
9 5 ,6 4 5 8 6
1 8 5 1 - 5 2 ................
4 9 ,7 3 7 6 9
18484 9 ........ 3 7 ,0 1 5 6 8 6 7 ,6 0 0 28
1 8 5 2 - 5 3 e s t m ’d . 4 0 ,0 0 0 0 0 8 7 ,0 0 0 0 0
18495 0 .....
4 1 ,8 2 2 4 9 1 7 ,7 7 9 7 2

ISSU E OF SMALL NOTES AT NORFOLK.
T h e C i t y C o u n c ils o f N o rfo lk , V ir g in i a , h a v e p a s s e d a n o r d in a n c e m a k in g p r o v is io n
fo r t h e is s u e o f c o r p o r a tio n s c r ip t o t h e a m o u n t o f $ 2 0 ,0 0 0 in s u m s o f $ 5 0 a n d $ 1 0 0 ,
b e a r i n g s ix p e r c e n t i n t e r e s t ; a n d $ 1 0 ,0 0 0 in s u m s o f o n e d o lla r , b e a r i n g a n i n t e r e s t o f
one h a lf o f one p e r c en t p e r annum .
T h e o n e - d o lla r b ills a r e to b e is s u e d a s s o o n a s
th e n e c e s sa ry p la te s c an b e p ro c u re d .

COMMERCIAL STATISTICS.
SH IPPIN G OF PHILADELPHIA.
P h i l a d e l p h i a is n o t N e w Y o r k , a n d N e w

Y o r k is n o t P h il a d e lp h ia .

T h e s p a c io u s

b a y a n d h a r b o r o f t h e fo r m e r m u s t e v e r g iv e it p r e c e d e n c e a s a m a r i t i m e p o r t.

P h il­

a d e l p h i a , o n t h e ' o t h e r h a n d , p o s s e s s e s , in t h e in e x h a u s tib le m in e s o f c o a l, iro n , a n d
o t h e r r e s o u r c e s o f P e n n s y lv a n i a , a l l t h e e le m e n ts o f a v a s t a n d v a r i e d in la n d t r a d e .
B u t w e p r e f e r t o l e t o u r c o te m p o r a r y o f t h e

Philadelphia Evening Bulletin

d is c u s s

t h e s u b je c t, a s h e h a s d o n e in a l a t e n u m b e r o f h is a b ly - c o n d u c te d a n d i m p a r t i a l j o u r ­
n a l.

The

Bulletin

s a y s :—

I t h a s b e c o m e s o m u c h t h e c u s to m t o d e p r e c i a t e t h e m a r itim e t r a d e o f P h i l a d e l p h i a ,
a n d t o w h in e a b o u t t h e d e c lin e o f o u r C o m m e rc e , t h a t n o th in g le s s t h a n o ffic ia l f ig ­
u r e s c a n s u c c e s s fu lly b e e m p lo y e d t o c o r r e c t t h e e rro n e o u s id e a . W e h a v e n e v e r g iv e n
a n y c o u n te n a n c e in o u r c o lu m n s to t h e c r o a k e r s w h o a r e c o n tin u a lly s tr iv in g t o m a k e
in v id io u s c o m p a r is o n s b e tw e e n th e t r a d e o f P h i l a d e l p h i a a n d o f o t h e r c itie s , a n d th e
o ffic ia l s t a t e m e n t s o f t h e y e a r j u s t c lo s e d e n a b l e u s t o s ile n c e s o m e o f t h e i r l a m e n t a ­
tio n s m o s t e f fe c tu a lly .
T h e fo r e ig n t r a d e o f t h i s p o r t is t h e s u b je c t o f t h e p a r t i c u l a r w h in in g o f th e s e ig n o ­
r a n t c r o a k e r s , a n d , w i t h o u t t a k i n g t h e t r o u b l e t o in fo r m th e m s e lv e s , th e y t a l k a n d
w r i t e a s i f a fo re ig n v e s s e l w e re a lm o s t u n k n o w n in o u r h a r b o r . N o w , t h e f a c t is t h a t
t h e a r r i v a l s fr o m fo re ig n p o r t s d u r in g t h e y e a r 1 8 5 2 w e r e m o r e n u m e r o u s t h a n d u r in g
a n y y e a r s in c e 1 8 0 9 , a n d ta k i n g in to c o n s id e ra tio n t h e in c r e a s e d s iz e o f m o d e r n v e s ­
s e ls , t h e fo r e ig n t r a d e 5v a s h e a v i e r t h a n i t h a s e v e r b e e n . T h e in c r e a s e in t h e n u m ­
b e r o f a r r i v a l s in a s in g le y e a r w a s 1 0 3 ; th o s e o f 1 8 5 1 b e in g 5 7 6 , a n d th o s e o f 1 8 5 2 ,
6 7 9 . T h e c a s h d u t i e s a t t h e P h i l a d e l p h i a c u s to m -h o u s e fo r 1 8 5 2 w e r e $ 4 ,0 3 3 ,9 0 9 2 0 ;
a n in c re a s e o v e r 1 8 5 1 o f $ 3 6 0 ,7 8 5 4 0 , a n d o v e r 1 8 5 0 o f $ 6 7 2 ,7 9 7 0 2 . W h i l e th is
in c r e a s e h a s t a k e n p la c e a t th is p o r t, t h e n u m b e r o f fo re ig n a r r i v a l s a t N e w Y o r k h a s
d e c lin e d , a n d t h e a m o u n t o f c a s h d u t i e s h a s r e m a in e d a b o u t t h e s a m e . O u r f o r e ig n
t r a d e , u n d e r t h e im p u ls e c r e a t e d b y th e c o m p le tio n o f o u r r a ilr o a d s t o t h e W e s t, a n d
t h e s u c c e s s fu l e s t a b l i s h m e n t o f lin e s o f s t e a m e r s t o E u r o p e , is c e r t a i n t o g o o n in ­
c r e a s in g s t i l l m o r e r a p i d l y , w h ile t h e r e is n o r e a s o n t o a n t i c i p a t e a c o r r e s p o n d in g in ­
c r e a s e a t o t h e r p o r ts . I n d e e d , t h e d iv e r s io n o f E u r o p e a n e m ig r a tio n t o A u s t r a l i a is
c e r ta in t o c a u s e a r e d u c tio n o f t h e a r r i v a l s a t N e w Y o r k fr o m t h e p r i n c i p a l p o r t s o f
E u ro p e.
B u t t h e h e a v i e s t m a r i t i m e tr a d e o f P h i l a d e l p h i a is w ith d o m e s t ic p o r ts , a n d t h e in ­
c r e a s e o f o u r c o a s tw is e s h ip p in g is a m a z in g . T h e a r r i v a l s c o a s tw is e in 1 8 5 2 w e r e
3 0 ,7 1 5 — a n in c re a s e , in o n e y e a r , o f 4 ,2 5 1 .
T o th is m u s t b e a d d e d th e a rriv a ls a t
P o r t R ic h m o n d , o u r p r i n c i p a l c o a l d e p o t.
T h e s e a m o u n te d to 7 ,8 3 0 — m a k in g a t o t a l
o f c o a s tw is e a r r i v a l s d u r in g th e y e a r o f 3 8 ,5 0 5 . T h e w h o le n u m b e r o f a r r iv a ls , t h e r e ­
fo re , d u r in g 1 8 5 2 , fo r e ig n a n d c o a s tw is e , a t P h il a d e l p h i a , w a s 3 9 ,2 2 4 — a n u m b e r w h ic h
w o u ld b y s o m e b e d e e m e d fa b u lo u s , i f t h e o ffic ia l r e c o r d s d i d n o t p r o v e i t s c o r r e c t­
n e s s b e y o n d a l l d is p u te .




234

Commercial Statistics.

I n m a k in g th is e x h ib it w e a r e n o t d is p o s e d to b o a s t o f i t a s a n y t h i n g t h a t e n title s
t h e b u s in e s s w o r ld o f P h i l a d e l p h i a t o e s p e c ia l c o m m e n d a tio n .
W e a r e c o n f e s s e d ly a
ta m e , c a u tio u s , a n d s lo w p e o p le , a n d t h e g r o w t h o f o u r m a r itim e t r a d e is th e r e s u l t o f
t h e n a t u r a l a d v a n t a g e s o f o u r s itu a tio n , r a t h e r th a n o f t h e e n t e r p r i s e o f o u r c itiz e n s .
I f w e h a d a l i t t l e m o r e o f t h e d r iv i n g e n e r g y o f N e w Y o r k , w h ic h w o u ld e s ta b lis h
n e w lin e s o f s t e a m e r s a n d s a il in g s h ip s , a n d b u ild m o r e r a i l r o a d s to e v e r y p a r t o f th e
c o u n tr y , th e g r o w t h o f o u r fo re ig n a s w e ll a s d o m e s tic t r a d e w o u ld b e e n o rm o u s . W e
h a v e s h o w n a b o v e w h a t P h i l a d e l p h i a h a s d o n e w i t h o u t e x e r tio n .
W h a t sh e m a y do,
with e x e r tio n o n t h e p a r t o f h e r c itiz e n s , is a p r o b le m w h ic h w e h o p e t h e y e a r 1 8 5 3
w ill s o lv e .
I n o r d e r t o s h o w t h e p r o g r e s s o f t h e s h ip p in g i n t e r e s t o f P h i l a d e l p h i a — i t s f o r e ig n
a n d c o a s tw is e t r a d e — w e h e r e a n n e x a t a b u l a r s t a t e m e n t o f th e a r r i v a l s a n n u a l l y a t
P h i l a d e l p h i a d u r in g t h e l a s t s i x t y y e a r s .

I n th e

Merchants' Magazine

fo r J a n u a r y ,

1 8 5 3 , (v o l. x x v iii., p a g e 5 0 ,) w e p u b l i s h e d a t a b l e o f to n n a g e e n t e r e d a n d c le a r e d th e
p o r t o f N e w Y o r k in e a c h y e a r fr o m 1 8 2 1 t o 1 8 5 1 .

I f th e to n n a g e o f a rriv a ls h a d

b e e n g iv e n b y t h e P h i l a d e l p h i a B o a r d o f T r a d e , fo r w h o s e a n n u a l r e p o r t t h e t a b l e b e ­
lo w w a s , w e b e lie v e , o r i g i n a l l y c o m p ile d b y M r. C h ild s , i t s l a t e S e c r e t a r y , w e s h o u ld
b e a b le t o p r e s e n t a c o m p a r a tiv e v ie w o f c o a s tw is e a n d fo r e ig n n a v ig a tio n o f t h e tw o
p o r t s :—

NUMBER OF ARRIVALS ANNUALLY AT PHILADELPHIA FROM 1 7 8 1 TO 1 8 5 2 .
Years.
1 7 8 7 .............
1788 .............
1 7 8 9 * ..........
1 7 9 0 f ..........
1 7 9 1 .............
1792 > .
1793 f +
1 7 9 1 .............
1795 .............
1796 .............
1797 .............
179 8 .............
1799 .............
180 0 .............
1 8 0 1 .............
1802 .............
1803 .............
1 8 0 1 .............
1805 .............
1806 .............
1307 .............
180 8 .............
1809 .............
1 8 1 0 .............
1 8 1 1 .............
1 8 1 2 ............. .
1813 ) ____
1814 ) § • • • •
1 8 1 5 .............
181611..........
1 8 1 7 .............
1 8 1 8 .............
.............

Foreign. Coastwise.
596
390
411
490
324
376
715
637
595
853

Total.
981
906
700
1,354
1,448

618
1,250
1,228
779
858
1,011
641
929
459
1,002
443
825
536
1,051
667
1,125
653
1,106
611
1,064
498
1,292
1,196
547
690
1,232
699
1,269
298
1,951
351
1,683
405
1,477
500
1.425
323
1,549
74
'3 1 9
43
583
487
1,113
538
1,101
532
1,238
576
1,101
4 5 01 8 1 91,016

1,868
2,007
1,869
1,570
1,461
1,2S6
1,587
1,792
1,759
1,675
1,790
1,716
1,922
1,968
2,219
2,034
1,882
1,925
1,872
393
626
1,600
1,639
1,770
1,677
1,496

Years.
1820 ..........
1 8 2 1 ____
1822 ..........
1823 ____
1 S 2 4 ___
1825 ____
1826 ..........
1827 . . . .
1828 ___
1829 . . . .
1830 ____
1 8 3 1 ..........
1832 ..........
1833 ____
1834 ____
1835 ____
1836 ____
1837 ____
1838 ____
1839 ___
1840 . . . .
1 8 4 1 -----1842 ____
1843 ____
1844 ..........
1845 ____
1846 ____
1847 ..........
1848 . . . .
1849 ..........
1850 . . .
1 8 5 1 ___
1 8 5 2 ____

Foreign. Coastwise.
877
441
913
494
1,212
4 82
1,018
501
981
4 84
1,195
48 2
1,195
469
1,320
4 50
1,247
3 74
2,210
415
3,287
396
3,262
4 28
2,849
474
2,573
4 30
2,686
4 29
3,573
421
3,764
409
7,476
4 64
10,860
521
11,188
456
9,706
505
9,246
454
7,973
372
7,659
4 72
7,717
387
8,029
459
6,018
18,069
657
542
23,921
585
2 4 ,5 9 4
518
27,035
676
2 6 ,484
679
30,715

* From the 1st August to 31st of December—no records for the early part of the year,
t The books of these years are mislaid.
X Embargo.
§ War with Great Britain.
| Opening of the Chesapeake and Delaware Canal.




Total.
1,356
1,354
1,706
1,500
1,482
1,679
1,679
1,789
1,697
2,584
3,702
3,658
3,277
3.047
3,116
4,002
4,185
8,185
11,324
11,709
10,162
9,750
8,427
8,031
8,189
8,416
6,477
18,726
24,463
25 169
27,553
27,060
31,394

Commercial Statistics.

235

VESSELS CLEARED AT BALTIMORE IN 1852.

The annexed statem ent of American and foreign vessels cleared a t the port of
Baltimore for foreign countries, during the year ending December 31st, 1852, is derived
from the B a l t i m o r e P r i c e C u r r e n t :—
No.
19
4

2 ,9 5 7
2 ,0 7 5

139
72

10
29

5 ,4 6 5
1 6 ,0 4 2

173
469

1
2
99
13
5

283
321
1 5 ,4 4 6
2 ,1 9 0
1 ,2 3 4

13
14
720
99
60

2
5
2

535
3 ,7 5 0
1 ,1 8 9

23
103
40

13
27
2
1
1
2
13
12
64
7
2

3 971
4 ,0 7 5
708
141
493
110
137
1 ,2 3 3
1 ,7 2 6
1 6 ,8 4 2
1 ,9 5 2
295

6

2,680

1

4

277
1 ,6 3 2
1 ,0 3 9

356

8 8 ,7 9 8

D a n is h W e s t I n d i e s ..........................
I l a n s e T o w n s ..................................... ..
H a n o v e r ....................................................
H o l l a n d .....................................................
E n g l a n d ..................................................
S c o t l a n d ..................................................
I r e l a n d .....................................................
G i b r a l t a r ................................; ...............
B r itis h W e s t I n d i e s ...........................
B r itis h G u i a n a .....................................
B r itis h N o r t h A m e r i c a .....................
S t. H e l e n a ...............................................
A u s t r a l i a ....................... .........................
F r a n c e o n t h e A t l a n t i c .....................
F r a n c e o n t h e M e d it e r r a n e a n ___
S p a i n ..........................................................

*

O t h e r Spanish W e s t I n d i e s ...........
M a d e i r a ....................................................
C a p e d e V e r d s ......................................
T r ie s te .....................................................

4

Ilayti.........................................
C e n t r a l A m e r i c a ................................
N e w Grenada............................
Venezuelan p o r t s ................................
B ra z ilia n p o r t s .......................................
M o n te v i d e o .............................................
B u e n o s Ayres............................
C h ilia n p o r t s ..........................................
P e r u v i a n p o r t s .....................................
W e s t C o a s t o f A f r i c a .....................
C a l i f o r n i a ................................................
T o t a l ...........................................

American vessels.
Men.
Tons.

6

N o.
i
2
40
1
17
29
1
3

196
311
1 8 ,0 7 5
96
8 ,4 3 3
1 1 ,7 8 0
302
511

8
15
653
6
274
440
15
26

64
6
45
1

6 ,7 2 4
1 ,1 4 3
7 ,6 1 2
199

472
60
377
10

...

...
...

..
1

195

13

2
1

176
138

14

136
193
30
12
15

1

6

..

11
80
89
670
78
15
97
14

Foreign vessels.
Tons.
Men.

1

18

450

...
...

86

8

.. .

3
3
1
2
2

29

532
599
172
418
624

G8

31

9
25
25
...
...

52
3 ,4 8 1

8
...

227

5 8 ,7 7 2

2 ,5 3 6

BALTIMORE INSPECTIONS OF BREADSTUFFS.
TABLE OF INSPECTIONS OF WHEAT AND EVE FLOUE AND COEN MEAL FOE THE LAST
TWELVE YEARS.

Flour.
Years.
1 8 4 1 .......................
1842 .......................
1843 .......................
1844 .......................
1845 .......................
184 6 .......................
1847 .......................
1848 ......................
1849 ......................
1850 .......................
1 8 5 1 ......................
1852 ......................




bbls.

Corn meal.
hlids.
459
715
635
245
631
1,076
934
333
428
272
620
747

bbls.
10,736
7,772
13,359
25 ,0 5 4
23,949
4 0 ,9 4 2
105,842
60,225
51,772
42,4 0 3
28,917
52,658

Rye flour.
hali-bbls.
34
437
821
1,525
1,450
1,744
1,298
1,322
2,051
3,369
2,256
745

bbls. h’f-bbls.
3,831
22
5,436
34
8,401
45
..
9,904
6,518
24
5,402
49
6,666
105
7,520
9
8,007
5,419
22
7,654
53
6,449
21

Commercial Statistics.

236

VESSELS ADMEASURED AT BALTIMORE IN 1852.
LIST OF VESSELS ADMEASURED AT TOE FORT OF BALTIMORE FROM JANUARY 1ST, 1852,
TO DECEMBER 31ST, INCLUSIVE.

Date.
January
((

15___
17___
tt
17___
February 14___
17___
«(
17___
24___
((
25___
March
17....
<(
20___
it
22___
“
25___
tt
27___
April
2 ___
It
3 ___
“
6 ___
15___
“
22___
May
6 ___
<(
12. .,
««
17....
“
21. . .
“
2 4 ___
June
9 ___
tt
9 ___
ft
9 ___
it
9....
23___
tt
28___
tt
29___
July
6 ___
2 3 ___
It
26___
“
2 6 ___
“
28___
August
6 ___
it
11___
tl
11. . . .
it
19___
September 1 ___
a
3 ___
it
4 ___
tt
4 ___
tt
13___
tt
21___
tt
2 4 .. '..
u
24___
tt
25___
October
1 ___
it
5 ___
it
15___
18___
November 4 ___
«<
9 ___
it
12___
It
13....
tt
16___
tt
18___




Class.
Ship........... .....................
Schooner........................
“
((
tt

Ship (steam )..................
Schooner........................
Sloop..............................
Schooner........................
tt

«
It

“
tt
tt

«
B rig ................................
Sloop...............................
Schooner........................
it

Ferry-boat (steam ). . .
B a r k ..............................
Ship..............................
B rig ..............................
B a i k ............................
Schooner......................
Sloop............................
Schooner......................
«
Steamboat....................
B rig..............................
Schooner......................
“
“
Sloop............. ..............
Schooner......................
tt
It
tt
it
It

((
it

<(
tt

B a r k ............................
((
Schooner......................
u

«
Sloop............................
Schooner......................
B a r k ............................
Schooner......................
Sloop............................
U, States Light-boat..
B a r k ............................
Ship..............................

N am e.
A t a l a n t a ..............................
C o n t r a c t o r ........................
K o h -i-N o o r..........................
C a n t o n ................................
A m p h i t r i t e ........................
C ity o f N o r f o lk ...............
E d w a r d W r i g h t ..............
J e n n y L i n d ........................
A a r o n P i c k r e l ................
D d w in D o r s e y ..................
E m i l y K e r r .....................
G l a d i a t o r ...........................
S u l l i v a n ..............................
E d w i n ...................................
S u s a n n a h ...........................
J a m e s N . M u i r ................
S e a F o a m ........................
L o u i s a ...................................
G e o rg e W . K r e b s . . . .
J . J . M a y p o l e ...................
B e l le o f B a l t o ..................
M a y Q u e e n ........................
L a d y S u f f o l k ...................
A m e l i a J a n e ...................
S h ir le y ..................................
M a n f r e d ..............................
B a l tim o r e ............................
R . K . H a w l e y ................
H a m p t o n ...........................
N o r t h C a l if o r n ia .............
A v a l a n c h e ........................
U n i o n ...................................
U k r a i n e .........................................
I d a V . R o l p h ...................
Z i n g a r a ................................
S . E . S a w y e r .....................
S a r a h A n n ..........................
M a r y A . F o r r e s t ..............
S o u t h W i n d ......................
D o l p h i n ...............................
F l y i n g C lo u d .....................
L a n c e t .................................
W i llia m P . P r e s t o n . . . .
S w a n ....................................
C o q u e t t e ..............................
L in w o o d ......... .....................
A n a c o n d a ............................
W a t e r L i l l y ...................................
W y e .....................................
D . L . C lin c h .......................
J e n D y L i n d ........................
C . W . D y e r ......................
J o s e p h M a x w e l l .............
R o s a b e lle ............................
G e n eral A . J a c k s o n .. .
J a n e ’s I s l a n d S t a t i o n . .
L i n d a S t e w a r t ................
A v o n d a le ............................

T onnage.
1 ,2 8 8 *79
9358
95 87
153 92
1 4 4 *76
572 00
33 80
8 58
89 7 9
110 57
161 57
616
1 6 0 19
109 89
5 2 21
667 71
188 09
7 80
8 7 28
5 2 33
115 70
231 70
5 29 80
199 42
2 1 5 25
6630
11 6 9
80 53
1 2 3 65
8 6 1 18
2 1 9 07
71 02
8880
59 75
22 50
61 40
21 0 80
21 0 00
75 28
1 35 45
1 45 06
57 07
38 86
1 4 8 91
8 2 11
491 53
383 04
8971
7 6 18
1 6 6 10
9 60
152 94
295 40
129 50
11 28
1 3 1 16
3 0 4 76
7 2 7 25

Commercial Statistics.
Date.
«
18....
«
20 . . . .
u
2 4 ___
December 2 ___
((
2 ___
2 ___
it
9 ___
10___
it
11 . . .
a
14___
a
14___
22___
«
31___
31___

Class.
Bark . . . .
Schooner
B rig.........
Schooner
“
it

S h ip .__
((
Schooner
“
«
B rig----Schooner

237

.
.
.
.
.

Name.
J u s tin a ..........................
Baltimore Belle............
V iola.............................
J. Bruce, J r .................
Henry Travers.............

.
.

Frigate B ird.................
R attler...........................

.
.
.
.
.

Cortez............................
V irg in ia ........................
E m m a............................
Chattanooga.........%. . .
Jam estow n....................

14,598 00

Total, 72 vessels...........
1851—83 vessels .
M
1850—67
it
1849—79
M
1848—69
U
1847—80

Tonnage.
248 90
61 46
150 81
86 13
75 91
80 81
805 27
638 09
1,130 51
176 44
125 00
127 38
208 14
135 49

19,469
9,689
11,168
14.447

46
67
72
44
12,868 56

1846—74 vessels.............
184 5— 80
“ .............
1844— 38
“ .............
1843— 17
“
..............

11,198
11,192
6,454
3,915

54
27
71

12

IM PO RT OF HIDES INTO TH E PO RT OF NEW YORK.

The subjoined statem ent of the imports of Hides into the ports of New York from
1st of January to 31st of December, 1852, is derived from the monthly statement of the

Shipping and Commercial L ist:—
F ro m
A f r i c a .......................................................................................
A n g o s t u r a ................................................................................
B u e n o s A y r e s a n d M o n t e v i d e o ...................................
“
s a l t e d .........................................................
“
h o r s e s ........................................................
B r i t i s h P r o v in c e s .................................................................
C a l c u tta , A c ..........................................................................
C a l i f o r n i a ...............................................................................
C a r t h a g e n i a ..........................................................................
C e n t r a l A m e r i c a ..................................................................
C u r a c o a ....................................................................................
C h i l i ..........................................' . ...............................................
E u r o p e .....................................................................................
L a g u a y r a a n d P o r t o C a b e l l o .....................................
M a r a c a i b o ...............................................................................
M a r a n h a m a n d P a r a .........................................................
M e x ic o .......................................................................................
R io G r a n d e .............................................................................
“
s a l t e d ................................................................
“
h o r s e ................................................................
R io J a n e i r o ............................................................. , ............
W e s t I n d i e s ..........................................................................
C o a s tw is e f r o m n e ig h b o r in g c itie s .............................
T o d e a l e r s , c h ie f ly p u r c h a s e s m a d e in n e ig h b o r ­
in g c i t i e s ..............................................................................
N e w O r l e a n s ..........................................................................
S o u t h e r n S t a t e s ....................................................................
T e x a s .........................................................................................
T o t a l , 1 8 5 2 .............................................................
“
1 8 5 1 .............................................................
“
1 8 5 0 .............................................................




D ecem ber.
1 8 ,6 9 4
5 5 ,6 3 1
7 8 ,S 9 0
9 ,7 4 2
6 ,3 0 4
900
2 ,0 6 6
6 ,0 3 2
2 ,2 8 2
7 ,9 2 0
1 ,0 0 0
892
2 ,0 1 0
1 ,7 6 4

1 ,9 5 4
349
3 ,0 6 0

F o r th e year.
N o.
Dales.
9 6 ,1 8 1
2 4 7 ,7 9 1
2 9 2 ,0 1 9
6 9 ,4 3 6
1 5 ,3 6 5
246
5 ,2 0 9
846
7 ,8 9 9
3 9 ,3 4 1
1 8 ,9 0 8
1 7 ,2 7 3
1 0 ,5 1 8
8 2 ,6 3 9
10
4 4 ,9 4 9
2 5 ,3 1 3
1 9 ,5 3 2
1 4 ,0 1 6
9 2 ,1 2 6
1 ,9 2 4
638
1 9 ,3 6 6
1 7 ,0 2 9
3 2 ,8 0 9

1 3 ,0 9 9
3 ,8 0 2
3 ,3 1 0
7 ,8 7 1

1 6 7 ,9 3 2
5 5 ,7 1 6
3 4 ,8 1 3
2 9 ,2 4 8

602
5
37
....

2 2 7 ,5 7 4
1 2 6 ,3 5 7
1 1 3 ,5 3 5

1 ,4 5 8 ,2 3 6
1 ,3 4 2 ,5 9 8
1 ,4 3 5 ,1 1 9

1 ,4 0 0
1 ,4 5 8

636

Commercial Statistics.

238

M A C K ER E L AND O T H E R F IS H IN S P E C T E D IN M A S SA C H U S E T T S.
W e c o m p ile fr o m r e t u r n s m a d e t o t h e S e c r e t a r y o f t h e “ C o m m o n w e a lth o f M a s s a ­
c h u s e t t s ” a s t a t e m e n t o f t h e q u a n t i t y o f M a c k e r e l i n s p e c t e d in s e v e r a l p o r t s o f t h a t
S t a t e , fo r t h e y e a r 1 8 5 2 , a n d a ls o a s t a t e m e n t o f t h e P i c k l e d a n d S m o k e d F i s h s in c e
t h e c o m m e n c e m e n t o f t h e in s p e c tio n l a w s (in 1 8 0 1 ) d o w n t o t h e p r e s e n t t i m e : —

No. 1.
B o s t o n ...................................................
G lo u c e s t e r ..........................................
B e v e r l y ............................................
R o c k p o r t ...............................................
N e w b u r y p o r t ...............................
P r o v in c e to w n ......................................
T r u r o .......................................................
W e l l f l e e t ........................................
C h a t h a m ..............................................
H a r w i c h ...............................................
D e n n i s ...................................................
Y a r m o u t h ............................................
B a r n s t a b l e ..........................................
H i n g h a m ............................................
C o h a s s e t . , ............................................
P l y m o u t h .......................................
S a l e m ...............................................

1 8 ,0 7 4 *
2 3 ,0 1 7 *
149
2 ,0 2 1 *
6 ,3 3 3
8 ,6 3 4 *
1 ,4 2 4 *
4 ,9 9 2
.1 ,4 7 1 *
3 ,0 8 9 *
3 ,0 8 3 *
1 ,1 5 5 *
1 ,4 4 0 §
3 ,4 3 4 *
3 ,4 7 9 *
25
2

83,1971

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

No. 2.

No. 3.

1 3 ,026*
16,639*
169*
2,717*
1,985
5,5 6 2 *
821*
4,2 4 4
1,713*
S .7 5 6 J
4 ,0 2 2 *
1,499
1,082
5,2 4 4 *
3 ,3 3 5 *
26
9

8,499*
7,529*
48
528*
3,295*
3,271*
295
1 ,869*
2,559*
2,256
3,080
580*
679
4,386
4 ,707*
16
3

6 6 ,145*

4 4 ,6 6 1 *

Total.

No. 4.
291*
826

....

7 8*
192*
114
262
30
46
104*

....

68*

100

....
2,164

3 9 ,8 9 1 *
4 8 .0 1 2 J
366*
5 ,345*
11,806
17,640
2,540*
11,367*
5 ,769*
9 ,1 4 7 *
1 0,290*
3,235
3,198*
13,133*
11 ,6 1 6 *
67
14
196,7 6 8 *

M A C K E R E L A N D A LL O T H E R K IN D S O F F IS H IN S P E C T E D IN M ASSA CHU SETTS D U R IN G

THE

LA ST F O R T Y -S E V E N Y E A R S .

Years.
1804
1805
1806
1807
1808
1809
1810
1811
1812
1813
1814
1815
1816
1817
1818
1819
1820
1821
1822
1823
1824
1825
1826
1827
1828 ,
1829 ,
183 0 ,
1831 .
1S32 .
1833 .
183 4 .




N o .l.

2 9 ,6 3 7 *
43,499
81,357
63,235
54,1 8 4
4 7 ,8 9 2
10,198
28,678
54,559
80,4 3 4

Mackerel.
No. 2.
No. 3.

9 0 9 ,840
8 0 ,584*
67,341
1 1 0 ,666*
77,0 9 8
104,569
171,096
97,220
98,925
9 3 ,5 5 3 *

114,904
34,657
3 9 ,6124
63,243
63,422
156,024
142,164*
96 ,5 5 4
6 9 ,443*
78,897

Total.
8 ,079*
8 ,936*
8,473
10,904
7 ,138*
8 ,865*
1 3,058*
17,890
6,750
3,832*
1,349
16,394*
30,021
37,482
47,210
105,433
120,602
1 1 1,009*
1 5 0,294*
145,006
1 8 0,636*
2 5 4,381*
1 5 8,740*
190,3101
2 3 7,3244
225,877
SOS,485
38 3 ,658}
222,452
2 2 2 ,9 2 6 *
25 2 ,884*

All other
kind of
fish.
11,347
11,574
16,545
16,779*
4,028
13,994*
15,792
24,510
16.0S7
9,815
5,547
14,682
16,715
16,728
2 3,208*
1 5,947*
4 ,5 0 4 *
2 ,079*
13,504*
5 ,869*
16,815*
5,782
4,211
2,978*
4,180*
5,062
7,380
6,285*
2,303
3,235*
5,908*

Total.
2 0 ,4 2 6 *
20,510*
25,018
2 7,683*
1 1,766*
22 ,8 5 9 *
28 ,8 5 0 *
4 2 ,400
2 2 ,8 3 7 *
1 3 ,6 4 7 *
6 ,026*
8 1 ,0 7 6 *
4 6 ,736
54,210
7 0,418*
121,380*
125,106*
113,089
163,799
150,875*
197,452
2 6 0 ,1 6 3 *
162,951*
193,289
2 4 1 ,5 0 5 *
230,932
315,872
389,944
224,755
226,162
258,198

Commercial Statistics.
Years.
1835 ..................
1836 ..................
1837 .................
1838 .................
1839 .................
1840 .................
1841 .................
1842 .................
1843 .................
184 4 .................
1845 .................
1846 .................
1847 .................
1848 .................
1849 .................
1850 ............... ..
1 8 5 1 .................

No. 1.

239

Mackerel.
No. 3.
No. 2.
57,271
60,558
61,027
28,588
22,037
11,049
10,649
22,496
13,088
22,515
88,696
73,403
76,007
88,465
94,847
44,909
102,467

All other
kinds of

Total.

9 1 ,9234
60,187
52,558
4 4 ,1 8 4
30,015
20,091
21,149
2 3 ,6 8 4
18,604
34,823
88,520
65,529
71,760
108,176
67,709
87 ,6 0 4
1 3 5 ,5974

fish.
13,6774
7,648
3,069
5,280
28,403
7,819
13,313
13,508
5,564
12,034
5,821
6,905
6,971
4,788
6,639
7,531
4,0 9 0 J

197,4114
17 7 ,0564
144,189
110,740
74,243
50,490
55,137
75,543
64,451
S6.181
202,302
188,261
251,917
317,101
231,856
242,572
3 2 9 ,442£

Total,
211,089
184,7044
147,258
116,020
102,646
58,309
68,850
89,051
70,005
98,215
208,123
195,166
258,888
3 21,890
238,495
250,183
333,3 3 2 4

T o t h e a b o v e r e t u r n s s h o u ld b e a d d e d 2 1 ,6 5 3 q u a r t e r - b a r r e l s M a c k e r e l i n s p e c te d in
1 8 5 0 , a n d 44 i do . i n s p e c t e d in 1 8 5 1 , in o r d e r t o m a k e t h e s u m t o t a l c o r r e c t, a n d w h ic h
w e r e o m i t t e d fo r w a n t o f s p a c e .
F O R E IG N AND CO A STW ISE A R R IV A L S AND CLEARANCES A T BO STO N .
T h e B o s to n Shipping L ist f u r n is h e s t h e a n n e x e d s t a t e m e n t o f t h e a r r i v a l s a n d
c le a r a n c e s a t t h e p o r t o f B o s to n fo r t h e l a s t fiv e y e a r s :—
A R R IV A L S F R O M F O R E IG N P O R T S F O R F IV E Y E A R S .

Ships.

Years.
1852
1851
1850
1849
1848

Brigs.

Earks.
332
288
269
305
310

840
817
846
908
952

Schooners
1,456
1,542
1,533
1,732
1,646

Total.
2,864
2,838
2,838
3,183
3,101

839
806
798
888
887

1,486
1,560
1,447
1,754
1,449

2,863
2,848
2,671
3,110
2,810

F O R E IG N C L E A R A N C ES .

1852
1851
1850
1849
1848

____

350
349
266
309
315

159

C O A STW ISE A R R IV A L S AND C LEA R A N C ES.

Arrivals. Clearances. Years.

Years.
1852
1851
1850

6,2 8 6
6,334
5,978

Arrivals.
6,199
6,118

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

3,291
1,181
3,086

Clearances.
3,174
3,187

C LEA R A N C ES F O R C A L IF O R N IA .

1851
S h i p s .....................
B a r k s ...................

B rig s .....................
S c h o o n e r s .............
T o ta l. . .

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

14
5
1

..........

98

1851.

1850.

1849.

22
12
1

53
57
31
25

58
37
41
15

35

166

151

Y IE LD OF SUGAR IN BRAZORIA COUNTY, T E X A S .
A c o r r e s p o n d e n t o f t h e Galveston News s a y s , t h a t in B r a z o r ia C o u n ty “ t h e r e a r e
5 ,4 5 2 a c r e s c u l t i v a t e d in c a n e , a n d t h a t th e e s t i m a t e d y i e l d is 6 ,0 5 5 h h d s . o f s u g a r , o f a n
a v e r a g e w e ig h t o f 1 ,2 0 0 p o u n d s n e t ; b u t I s u p p o s e t h a t th e r e a l y i e l d w ill b e n e a r e r
1 ,0 0 0 th a n 6 ,0 0 0 h o g s h e a d s . T h e w o r k o f r o ll in g is n o w g o in g o n t h r o u g h o u t t h e
c o u n ty , w i t h b u t o n e o r t w o e x c e p tio n s .”




Commercial Regulations.

240

COMMERCIAL REGULATIONS.
REGULATIONS FOR TH E PO R T OF MESSINA.
OFFICIAL.
D epa r t m e n t

of

S t a t e , D e c e m b e r 28,1852.

T h e f o llo w in g d e c r e e o f t h e K in g o f t h e T w o S ic ilie s , t r a n s m i t t e d t o th is D e p a r t m e n t

b y W il l ia m W in t h r o p , E s q ., U n i t e d S t a t e s C o n s u l a t M a lt a , is p u b l i s h e d fo r g e n e r a l
i n f o r m a t i o n :—

W e , F er d in a n d I I ., t a k i n g in to c o n s id e r a tio n a r t i c l e 19 o f t h e r e g u la tio n s c o n c e r n in g
t h e p o r t o f M e s s in a , a p p r o v e d o f b y u s , a n d in w h ic h a r e i n d ic a te d t h e a r t i c l e s , w h ic h ,
a lt h o u g h d e c l a r e d fo r t h e c o n s u m p tio n o f t h e t o w n o f M e s s in a , a r e e x c l u d e d f r o m t h e
b e n e f i t o f n o t p a y i n g a n y e n t r a n c e d u t y , a n d w is h in g t o f a v o r s t i l l m o r e o u r b e l o v e d
t o w n o f M e s s in a , h a v e re s o lv e c E a s f o l l o w s :—
A r t . 1 . T o t h e a r t ic le s m e n tio n e d in A r t . 1 9 o f t h e s a id r e g u l a t i o n s a r e a c c o r d e d ,
f r o m t h e a m o u n t o f t h e r o y a l d u e s , t h e fo llo w in g a d v a n t a g e s in o u r r o y a l d o m a in s b e ­
y o n d t h e c h a n n e l fo r t h e p ro v in c e o f M e s s in a , in c lu d in g t h e to w n , e i g h t p e r c e n t., a n d
f o r t h e c ity o f P a le r m o , tw o p e r c e n t, in t h e p ro v in c e o f N a p le s , o n e p e r c e n t.
A r t . 2. C o lo re d c o tto n g o o d s d e c l a r e d t o b e i m p o r t e d f o r t h e c o n s u m p t io n o f t h e
to w n o f M e s s in a are exempt from entrance duties.
N a p l e s , N o v e m b e r 2, 1852.

CHANGE IN TH E TA R IFF OF CUBA,
A c o rre s p o n d e n t o f th e

Journal o f Commerce,

r e s id in g a t H a v a n a , h a s p r e p a r e d t h e

s u b jo in e d tr a n s l a t i o n o f t h e a r t ic le s u p o n w h ic h t h e d u tie s o f i m p o r t a t i o n h a v e b e e n
c h a n g e d fo r th e Is la n d o f C u b a,
S ta te s .

in v o lv in g t h e c o m m e r c ia l i n t e r e s t s o f t h e U n i t e d

T h e c h a n g e t a k e s e ffe c t o n t h e 1 s t o f F e b r u a r y , 1 8 5 3 .

A ll o th e r g o o d s n o t

e n u m e r a t e d i n t h e s c h e d u le r e m a i n a t f o r m e r v a l u a t i o n a n d a s s e s s m e n t, s o t h a t o u r
m e r c h a n t s w i l l b e a w a r e , f u l l y , o f t h e e x p e n s e in c u r r e d , to g o v e r n t h e i r tr a n s a c tio n s .
A l t e r a t i o n s in t h e v a l u a t i o n o f g o o d s i n tr o d u c e d in to t h e p o r t s o f t h e I s l a n d o f C u b a ,
a t w h i c h d u tie s a r e a s s e s s e d a t f o r m e r r a t e s , in c o n f o r m ity w i t h t h e R o y a l O r d in a n c e
o f A u g u s t 1 s t, t o g o in to e ffe c t o n t h e 1 s t d a y o f F e b r u a r y , 1 8 5 3 . T h o s e a r t i c l e s o f
m o s t im p o r t a n c e t o t h e i n d u s t r y a n d t r a d e o f t h e U n i t e d S t a t e s a r e t r a n s l a t e d f r o m
t h e “ D ia r io d e l a M a r i n a ” o f t h e 2 0 t h o f O c to b e r , 1 8 5 2 .

Anvils, per 100 pounds................................................................................§6 50
Brushes, Clothes, per dozen..................................................................... 2 25
Braces for Carriages, ornamented, per dozen...................................... 8 00
Bowls, sugar, China, per dozen.............................................................. 1 12
Butter, per 100 pounds.............................................................................. 14 00
Carpets, for 60 inches width, (mats, <Src.)............................................. 1 75
Collars, horse, (plated) without straps or cushions, per dozen........ 5 25
Collars, horse, (tinned) without straps or cushions............................ 3 00
Cocoa of Guayaquil, per 100 pounds..................................................... 6 00
Coffee Pots, Porcelain, per dozen........................................................... 3 75
Canes, walking, India, gold heads, each............................................... 6 00
Cards, for wool or cotton, pairs..............................................................
87-J
Cotton Cloth, bleached, domestic, (8 varas spl.) 7} English........... 1 25
Crucibles, gross.......................................................................................... 4 50
Collars of fine “ Olein,” embroidered, per dozen................................ 3 75
Cordials, (licores,) 25 pounds.................................................................. 6 25
Cordials, Spanish, in bottles, per dozen............................................... 4 00
Cotton Stripes, per 33 inches.................................................................
9|Cotton Stripes, unbleached, per 33 inches...........................................
6|
Capes, muslin, embroidered, per dozen................................................. 4 50
Cloths, table, with 18 napkins of linen, (service)................................. 10 00




to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to

$7 50
3 00
10 00
1 00
16 00
1 50
4 50
2 25
7 00
4 50
8 00
75
1 00
3 00
12 00
5 00
2 00
1219£
6 00
18 00

Commercial Regulations.

241

Cloths, table, with 12 napkins of linen, (service)............................... $7 60 to $10 00
Cloths, table, Bearne, (service)............................................................... 3 76 to 5 00
Cloths, table, Bearne, with 6 napkins of linen, (service)................... 1 87i) to 2 60
Combs, shell, large, per dozen................................................................ 37 50
to 36 00
Combs, shell, sm all................................................................................... 4 50
to 18 00
Cloaks, oil cloth, each............................................................................... 6 25
to 8 00
Drawers, linen, per dozen........................................................................ 21 00
to 24 00
to 6 80
Dishes, white porcelain or China, per dozen...................................... 4 50
Fans, ivory, mother-of-pearl, or shell................................................... 18 00 to 24 00
Frames for Pictures, Ac., gilt or pine wood, 1 6 | inches siz e .. . . . . 2 50 to 1 50
Frames for Pictures, Ac., gilt or pine wood, 16J to 33 inches.......... 5 00 to 3 50
Frames for Pictures, Ac., gilt or pine wood, 33 to 4 1£ inches......... 7 50 to 6 00
Fish, tunny, in pickle, 25 pounds........................................................... 1 75 to 2 00
Frames for looking-glasses and pictures, commonwood,16^ inches 1
00 to 2 00
Frames for looking-glasses and pictures, 16J to 57f inches ............ 3 00 to 4 00
Flannels, 33 inches width, 7 f yards English....................................... 1 70
to 1 75
to 25 00
Flour, sago, per quintal, n e t .................................................................. 12 50
Glasses, opera, small, per dozen............................................................ 18 00 to 24 00
Glasses, opera, double, each.............................
3 00 to 5 00
Glasses, looking, with frames and feet, each....................................... 3 50 to 5 00
Gloves, kid, per dozen.............................................................................. 3 00 to 4 50
Gloves, s ilk ................................................................................................ 2 25
to 3 00
Horses, wooden, for children.................................................................. 12 50
to 8 00
Hair for pillows and matrasses, quintal............................................... 2 00 to 6 60
Hides, deer, cured and dry, per dozen................................................. 4 00
to 3 00
Hair, curled, 25 pounds............................................................................ 2 00 to 1 00
Handkerchiefs, linen, cambric dozens, (worked)................................ 1 25 to 1 00
Hose, half cotton, per dozen....................................t ............................. 2 10 to 1 50
Handkerchiefs, linen, cambric................................................................. 3 00
to 4 00
Handkerchiefs, linen, cambric, open w ork........................................... 7 50 to 9 00
Iron, sheet, quintal....................................
3 75 to 4 00
Keys for ornamental badges of office, of gold.................................... 6 00 to 8 00
Knives, whalebone handles, 8J inches blade, per dozen................... 1 25 to 1 00
Linen Shirting...........................................................................
13 50 to 12 50
Lamps, 16£ inches, metal, each.............................................................. 4 50 lo 2 50
Lace Trimmings, narrow, piece 29J-yards........ ..................................
75 to 1 50
Linen, coarse, for linings, piece.............................................................. 7 50 to 7 00
Monkeys and other small animals, e a c h ............................................. 10 00 to 4 00
Merino, narrow, for 33 inches English...................................................
37£ to
50
Merino, wide, for 33 inches English.....................................................
75 to 1 00
Mill Stones, each........................................................................................ 7 50 to 10 00
Oil, Spanish, in bottles, boxes, or dozen............................................... 3 00 to 2 50
Oil, foreign, boxes, of dozen bottles........................................................ 3 00 to 3 60
Oil, Cocoa, per aroba, (25 pounds)......................................................... 2 00 to 3 00
Oil, perfumed, in glass, dozens, sm all................................................... 1 50 to 2 25
Ornaments for holsters, plated, Ac., per dozen.................................. 3 75 to 8 00
Ornaments for carriage hubs.................................................................. 2 25 to 3 00
Pork, in salt pickle, per barrel................................................................ 14 00 to 12 00
Prunes, per 100 pounds........................................................................... 10 00 to 12 00
Plates, head and breast harness............................................................ 1 60 to 1 35
Purses, cotton, per dozen........................................................................ 1 00 to 1 25
Pomatum, in galipots and jars, per pound........................................... 1 75 to 1 25
Paper, wrapping, per ream ....................................................................
50 to
25
Presses, copying, each.............................................................................. 12 00 to 20 00
Bum, Spanish, in demijohns.................................................................... 1 75 to 150
Bibbons, velvet, per piece....................................................................... 1 00 to 1 25
Sheeting, 33 inches English to 49^ wide, each yard.........................
67^ to
50
Scabbards for swords, or sheaths, per dozen....................................... 0 00 to 12 00
Scabbards for foils, or sheaths....................................................... . „ .. 4 50 to 9 00
Scabbards for knives, for field or traveling ....................................... 9 00 lo 12 00
Steel springs and pieces for watches, sets........................................... 2 00 to 150
Shoe Lasts, per dozen.............................................................................. 2 25 to 3 00
Trowsers, cassimere or cloth.................................................................. 56 00 to 60 00
V OL. X X V III.---- N O .




II.

16

242

Commercial Regulations.

T u b s , b u r n e d o f c la y o r p a n s , c o m m o n ............................................................. 81 5 0
V e s ts , r e a d y m a d e , e a c h ............................................................................................
2 25
W ig s a n d S c r a t c h e s ....................................................................................................
6 00
W a t c h e s , s i l v e r ...............................................................................................................
8 00
W a t c h e s a l t e r e d fr o m 2 7 * p e r c e n t o n v a lu a tio n , t o 7 * p e r c e n t
fo r d u tie s o f im p o r ta ti o n .
B e e f, j e r k e d , o f t h e U n i t e d S t a t e s , p e r 1 0 0 p o u n d s ................................
7 50
6 00
B e e f, j e r k e d , o f B u e n o s A y r e s .............................................................................
C h a ir s , c o v e r e d w i t h s ilk v e l v e t .......................................................................... 21 5 0
S h o e s , c h i l d r e n ............................................................................................................
4 40
S e r g e , o f f v a r a w i d t h ...............................................................................................
25
3 00
S e w in g S ilk , p e r p o u n d .............................................................................................
50
S n u f f .................................... ................................................................................................
S u s p e n d e r s , g u m e la s tic , d o z e n .............................................................................
3 00

to $ 2 25
to
8 00
to
6 00
to 12 0 0

to
6 50
to
e 50
to 21 0 0
to
3 00
to
37}
to
4 00
1 00
to
4 00
to

D R U G S AND M E D IC IN E S.

Oil, Croton.............................................................................
Oil, Euphoroia Satyris, per pound..................................
Oil, Cod L iver......................................................................
Oil, L aurel.............................................................................
Acetate of Alumina, p u r e ................................................
Acetate of Ammonia, crystallized, ounce........................
Acetate of S ilv e r................................................................
Acetate of S try ch n ia..........................................................
Acid, Oxalic, per pound.....................................................
Acid, Succinic................. .....................................................
Orange Flower W ater, per dozen.....................................
W hite Vitriol, per pound...................................................
Elastic Catheters, per dozen.............................................
Calcined Alum, per p o u n d .................................. ............
A qua Ammonia....................................................................
Sugar of M ilk ......................................................................
Alchoroneter, one................................................................
Balsam Canada, per pound...............................................
Balsam of Mery, (culled)...................................................
Berries of Physalic Alkekeng............................................
Berries of M yrtus................................................................
Berries of L aurel..................................................................
Balls of Nancy......................................................................
Bromure Silver, per ounce.................................................
Bromure potash, per pound...............................................
Bromure Soda......................................................................
Bougies of Wax, per dozen.................................................
Bougies of Gum E lastic......................................................
Capsules of Porcelain, over 6 inches, e a c h ....................
Carbonate of Ammonia, per p o u n d ................................
Castor F ib e r .........................................................................
Cianite of Gold, per ounce................................................. .
Cianite of Potash, per pound .........................................
Cianite of Sodium................................................................
Cianite of Iodine, per o u n c e .............................................
Citrate of Iron, per pound...................................................
Chlorina, per d o z en .............................................................
Chloride of Alumina, dry, ounce........................................
Chloride of Lime, Christ., p o u n d .......................................
Chloride of T in .................................................................... .
Chloride of Mercury, prepared by steam .........................
Cedcina, per ounce................................................................
Colocyntb, per pound...........................................................
Empectic Rosarum...............................................................
Bed C o ra l...............................................................................
B ed Coral, prepared.............................................................
Mezereon B a rk ......................................................................




1 00
1 25
1 00
37* t
1 00

to
to
to
to
to
37} to
2 5 0 to
8 0 0 to
75
to
9 0 0 to
t
o
2 00
16 to
2 25 to
25 to
2 5 to
3 7 * to
1 0 0 to
6 0 to
3 7 * to
37} to
25 to
12 to
5 0 to
2 0 0 to
6 00 to
6 00 to
25 to
1 60 to
1 0 0 to
25 to
6 00 to
2 4 0 0 to
6 0 0 to
12 00 to
3 0 0 to
2 25 to
4 50 to
8 00 to
3 7 * to
3 7 * to
1 00
to
16 0 0 to
6 7 * to
37* to
75
to
3 7 } to
1 8 * to

75
1 00
1 25
25
1 25
50
8 00
6 00
50
12 0 0
3 00
12
2 00
60
18*
50
50
25
50
60
50
25
75
2 60
8 00
8 00
50
2 00
50
20
8 00
30 00
5 00
75
4 00
4 00
3 75
10 00
50
50
1 25
17 00
50
50
50
75
25

Commercial Regulations.

243

Chromate of Potash................................................................................ $0 67£ to $0 76
Emplastrum Ciscuter...............................................................................
37} to
75
Scamtnony of A le p p o ............................................................................. 4 00 to 3 00
Scainrnony of Sm yrna...........................................................
1 00 to 1 26
Essence of W orm seed............................................................................. 4 00 to 2 50
Essence of S a g e ....................................................................................... 2 00 to 1 6 0
Essence of S a ssafra s............................................................................... 2 00 to 1 50
Essence of Volatile S uccinary.............................................................. 2 00 to 1 50
Elastic Spatulas, small, d o z e n .............................................................. 2 00 to 1 50
Elastic Spatulas, large............................................................................. 4 50 to 3 00
Spirits of Sweet Nitre, per p o u n d ........................................................
37} to
50
Prepared S ponge..................................................................................... 1 00 to 3 00
75 to 1 00
Styrax Calam inta............... .....................................................................
Styrax L iq u id .......................................................................................... 2 00 to 1 50
Extractum Cicistre................................................................................... 2 00 to 1 50
E xtract of G-uacum................................................................................... 3 00 to 4 00
E xtract of H o p s ........................................................................................ 2 00 to 1 5 0
12}
E xtract of Licorice.....................................................................................
18^ to
E xtract of S a rsa p a rilla ........................................................................... 3 00 to 2 50
Strychnia, per ounce................................................................................. 7 00 to 6 00
Flowers of A l t e a .....................................................................................
18£ to
16
Flowers of C e n ta u ry ...............................................................................
18£ to
16
38} to
25
Flowers of Carthaminy ..................................... ...................................
Flowers of Hypericum .........................................................., .................
18£ to
25
Flowers of M ullen.............................. ......................................................
37 £ to
34
Chamomile, Spanish.................................................................................
18£ to
12£
Chamomile, R o m an .................................................................................
37£ to
50
Flowers of C atnip......................................................................................
18£ to
12}
Flowers of S anguinaria..........................................................................
18£ to
12
Flowers of E lder.......................................................................................
18£ to
12^
Flowers of Violet......................................................................................
37 } to
34
50 to
30
Gum Benzoin............... ..............................................................................
Gum S ag ap en am ...................................................................................
6 2 | to
75
37} to
25
Common Dragon’s B lood.........................................................................
N epar Atiminic..........................................................................................
37} to
50
Borrago Officinales, h e r b ......................................................................... 12 50 to 18 75
Dictanes Cretian, h e r b .......................................................................... .
75 to 1 00
Cuttle Fish B o n e .....................................................................................
18£ to
25
Medical S o a p ............................................................................................
37-J to
50
Jalapina, per o u n c e ................................................................................. 1 50 to 2 00
Kermes Minerals, per pound.................................................................. 2 00 to 2 50
Le Roy Purgative, per b o ttle ................................................................ 1 25 to 1 00
Le Roy V om itive.....................................................................................
62£ to
50
Lupulina, per ounce.................................................................................
25 to
60
Hops, per pound.......................................................................................
18} to
25
Pelletier’s Velentinic, per dozen............. . ............................................ 3 00 to 4 50
Bobt. Files, each........................................................................................ 2 00 to 3 00
Arm Plates, for issue-pea, d o z e n .......................................................... 3 00 to 4 00
12£ to
18£
Ginger Root, per pound............................................................ •..............
Bristol R o o t..............................................................................................
25 to
I8fRadix Runus a C u lca tu s.........................................................................
22 to
181Radix Calam uzarcus...............................................................................
18£ to
12^
Radix Cynoglossum off............................................................................
184 to
25
Viper Root . . . . • .....................................................................................
18J to
25
Ipecacuanha Root ...................................................................................
624 to
50
Sarsaparilla of V era Cruz......................................................................
11£ to
12
Rosin of J a la p ............................................................................................ 8 00 to 12 00
Rosin of Liemon.......................................................................................
20 to
16
Root, Antisiphilitic of Lafateur, per bottle......................................... 3 00 to 4 00
Sal Glauber, per pound...........................................................................
3 to
2
Sugar of L ead............................................................................................
I 84 to
18£
Santonia, per ounce.....................................................
8 00 to 6 00
Berries of Cocoa, per p o u n d ..................................................................
124 to
25




Commercial Regulations.

244

V erm ilion.................................................................................................. $1 00 to
Mercury and Potash S u p ia a .................................................................. 6 00
Chalk, Bed, p re p a re d .............................................................................
12^Zumsal, p o t................................................................................................
50
Veratrin, per ounce................................................................................. 10 00
Iodine, per pound...................................................................................... 8 00
Iodine of Sulphur, of Iron, Mercury, and L ead.................................. 8 00
Iodine of Potash, Sodium, and Zinc...................................................... 8 00

$1
60
to 3 00
to
16
to 1 00
to 8 00
to 6 00
to 6 00
to 6 00

SUGGESTIONS FOR MERCHANTS IN T H E CALIFORNIA TRADE.

The following suggestions are from a late Circular of H ussey, B ond <!i H ale, of
San Francisco.
W e would call the attention of shipowners to the importance of a change in the
usual practice of shipping crews for the round voyage upon vessels bound first to San
Fraucisco, thence to India, or China, and home. We are clearly of opinion th at crews
should be shipped to be discharged at this port, rather than for the round voyage.
This can often be done at nominal wages, as many sailors are desirous to get to this
port. It is certain that in no case will men proceed on the voyage at the original
wages, and to ship them in this manner is but offering a premium on desertion; in a
majority of instances, through informality of articles, or corruption of minor courts and
sympathy of juries, the entire wages of deserting seamen are received. The results of
recent cases suggests the following precautions:
Original shipping articles should be deposited in the Custom-House a t the port of
clearance, and a certified copy, signed by the collector, should be taken in place.
The articles should always have the m aster’s signature, and should be signed by
the crew in presence of the officers, or others competent as witnesses, and should be
read to the men in their presence.
The men should be made to understand fully what ports they are bound to visit
before the voyage is complete, and these should be named as definitely as possible in
the articles.
The day and hour upon which the men render themselves on board should be noted
on the articles. In some cases the entire date has been wanting to the document.
The dispatch of vessels is greatly facilitated by a transmission of freight list and
bills of lading by mail, as by receiving them in advance of arrival of the vessel, we
are enabled to prepare orders and bills for freight. Much confusion and delay in the
delivery of cargo is thereby prevented.
W e would also impress upon shippers the importance of very accurate and full de­
scriptions of goods upon their invoices. I t often occurs upon a quick m arket that
buyers apply for goods as soon as the arrival of a vessel is reported, and before the
goods can be seen, and in the competition thus engendered, better prices can perhaps
be obtained than could be subsequently had. Sales in these cases must be made
wholly from description, and in event of a decline in prices, any variation of invoice
description will be availed of by some purchasers to vacate their contracts.

REGULATION OF T H E ARGENTINE CONFEDERACY.
D e pa r t m e n t

of

S t a t e , W ash in g to n , Dec. 10,1852.

The following translation of a notice received from the United States Consul at
Buenos Ayres, is published for the information of those whom it may concern:—
D epa r t m e n t

of

F o r e ig n R ela tio ns

of t h e

A r g ei ^

ine

C on fed era cy .

Hotice is hereby given to all consignees and masters of vessels coming from beyond
the seas, that, having noted the infraction committed of the existing laws of the Re­
public, which direct that all vessels m ust have their papers certified by the Consul of
the Argentine Confederation at the place from whence they sailed, the Government
has adopted the necessary measures for putting an end to this abuse, by ordering that,
after the expiration of six months, counting from the date of this notice, no vessel whose
papers have not been thus certified in compliance with the requisitions of the law, will
be allowed to enter the ports of the Argentine Confederacy.
JOSE R. PEREZ, Chief Clerk.
A ugust 13th, 1852.




Commercial Regulations.

245

TA R IFF OF NEW SOUTH WALES.

The annexed extract from a dispatch has been received a t the Department of State
f r o m J. H. W i l l i a m s , Esq.
I t relates to a new Tariff passed by the Legislative Coun­
cil a t Sydney, New South Wales, and is published in the M e r c h a n ts ’ M a g a z in e a n d
C o m m e r c ia l R e v ie w for general information :—
“ I have the pleasure of inclosing herewith a copy of the new Tariff passed by the
Legislative Council.
‘'Y ou will perceive that articles likely to be imported into this Colony from the
United States, with the single exception of tobacco, are free ; upon tobacco the duty,
both of leaf and manufactured, has been reduced 6d. per lb., and is to be still further
reduced after December, 1853.”
T H E N E W T A R IF F .

The following are the duties leviable under the new Customs’ Act, which came
force on Thursday morning :—
A.
0
Ale, porter, and beer of all sorts, in w ood.........................................per gallon
0
Ale, porter, and beer of all sorts, in bottle.......................................
“
0
Coffee, chocolate, and c o co a ................................................................ per pound
0
“
Currants, raisins, and other dried f r u i ts ...........................................
Spirits, or strong waters, of the strength of proof by Sykes’ hydrometer,
and so on in proportion for any greater or less strength, per gallon, viz.:
6
Brandy ...............................................................................................................
6
Gin.......................................................................................................................
Rum, whisky, and all other spirits............................................. per gallon
4
Perfumed spirits of whatever strength, in bottles, for every gallon...............
All spirits, liquors, cordials, brandied fruits, or strong waters, respectively,
sweetened or mixed with any article so that the degree of strength there­
6
of cannot be ascertained by Sykes’ hydrometer, at the rate of, per gallon
3
R e f in e d s u g a r ....................................................................................................................p e r c w t.
2
U n r e fin e d s u g a r ...............................................................................................................
“
1
M o la s s e s ..............................................................................................................................
“
T e a ......................................................................................................................................p e r p o u n d
0
Manufactured tobacco, per pound, Is. 6d. until the 31st December, 1853,
1
and th e re a fte r.......................................................................................................
Unmanufactured tobacco, per pound, Is. until the 31st December, 1853, and
thereafter...............................................................................................................
0
2
Segars and S n u ff................................................................................... per pound
Wine, not containing more than 25 per cent of alcohol of a specific gravity
of 825, a t the tem perature of 60 degrees of Farenheit’s thermometer, in
1
wood or in bottle................................................................................ per gallon
D r a w b a c k u p o n th e e x p o r ta tio n o f re f in e d s u g a r m a d e in t h e c o lo n y , p e r c w t.
D r a w b a c k o n r e f in e d s u g a r , k n o w n a s b a s t a r d s u g a r ................................
“

3
2

into

d.
1
2

01
0i
0
0
0

0
4
6
8
H
0

8
0
0
4
6

OF V ESSELS BUILT IN FOREIGN COUNTRIES.

The following act, entitled “ An A ct authorizing the Secretary of the Treasury to
issue Registers to vessels in certain cases,” was approved by the President of the
United States, December 23, 1852.
B e i t e n a c te d b y th e S e n a te a n d H o u s e o f R e p r e s e n ta tiv e s o f th e U n ite d S t a t e s o f
A m e r ic a i n C o n g re s s a sse m b le d , That the Secretary of the Treasury be and he hereby
is authorized to issue a register or enrolment for any vessel built in a foreign country,
whenever such vessel may have been, or shall hereafter be wrecked in the United
States, and shall have been, or shall hereafter be purchased and repaired by a citizen
or citizens thereof: P r o v id e d , That it shall be proved to the satisfaction of the Secre­
tary of the Treasury that the repairs p u t upon such vessel shall be equal to threefourths of the cost of said vessel when so repaired. Approved, December 23, 1852.




246

Nautical Intelligence.

NAUTICAL IN TELLIG ENCE.
MAURY’S SAILING DIRECTIONS.

The San Francisco P r i c e C u r r e n t , alluding to the arrival of the “ Sovereign of the
Seas ” a t th at port, sa y s:—
“ The voyage of this magnificent ship was performed in 103 days, and under all the
circumstances of her loss of masts, spars, &c., must be considered an almost unparal­
leled feat of speed. In relation to this it is interesting to note the coincidence, we
might almost say the trium phant calculations of maritime science, illustrated in the
prediction of the voyage and its actual result, referred to in the annexed letter from
the professor of astronomy at Washington, in reply to a request of Capt. McKay for a
copy of the ‘ sailing directions.’ ”
N ational O b ser v a to r y , Washington, July 28, 1852.
S ir ,—If you have not the charts and old sailing directions that accompany them,

please call on my agent, George Manning, No. 142 Pearl street, and he will furnish
you with them. I am driving through the press the 4th edition of Sailing Directions.
I hope to have the chapter on the route to California out in time for the S o v e r e ig n o f
th e S e a s . If so, I will send you them in the sheets, and yours will be the first vessel
th at takes them.
I f you get them, stick to them, and have average luck. I predict for you a passage
of not over o n e h u n d r e d a n d th r e e d a y s.
Wishing you all the luck you can desire, I am, very truly, &c„
M. F. MAURY.

Capt. L. M cK ay.
P . S . —For fear the new directions should not be out in time, do this : Follow the
old (third edition) as they are for doubling Cape Horn. After you get round, make
as much westing, where the degrees are short, as the winds will conveniently allow,
aiming to cross the parallel of 40 South, between 100 and 105, the parallel of 30, about
110. Don’t fight head winds to do this. Cross the line near 120 deg. W est, which
you will do, considering that you have a clipper under your feet, on or before the 25th
October. You will hardly get the Northeast trades South of 10 deg. North. Make a
due North course through the “ doldrums,” and when you get the Northeast trades,
run along through them with topmast studding sails full, of course going no farther
W est than the winds drive you, taking care not to cross the parallel of 20 deg. North
to the East of 125 deg. West.
W hen you lose the Northeast trades, if you get a sm art breeze, make Eastward.
But if you have “ horse latitude ” weather, make the best of your way North until
you get a good wind, or find yourself in the variables, (W esterly winds,) between 35
and 40 deg. Then stick her away for port.
I t will be seen on reference to the actual time occupied in the voyage, that the
time exceeded th a t predicted by but a few hours, the sailing directions being closely
observed. The combination of skill and science needs no further comment.
ADJUSTM ENT OF COMPASSES IN IRON SH IPS.

Mr. J ohn G ray, Great Britain, has published a letter, in which he proves, by the
example of the S a r a h S a n d s , that the compass can be as accurately adjusted in iron
vessels as in those of wood. H e sa y s:—
“ This steamship has been a most valuable agent for the determination of a mooted
point now being investigated, that is, whether iron ships undergo a very important
change after crossing the equator or not. For years I have entertained the opinion,
that, for all practical purposes, the adjustment on Professor Airy’s principle will an­
swer equally well in both North and South latitudes, and which this vessel has d e }
m onstrated beyond all doubt. Simultaneous bearings were taken by Capt. Thompson
and his chief officers, in various parts of the Straits of Magellan, and the result clearly
showed th at no deviation whatever took place.”




247

N autical Intelligence.
VESSELS WRECKED OS T H E FLORIDA COAST, 1 8 4 4 -5 1 .

K ey W e s t , F lo rid a , August 31,1852.

F reem an H unt , E d i t o r o f th e M e r c h a n t s ' M a g a z i n e , e t c :—

I subjoin a correct statem ent of vessels wrecked on the Florida Coast, th at have re­
ceived assistance from the Key W est Wreckers, from 1844 to 1851 inclusive.
This table I have carefully prepared from the only reliable records I have been able
to obtain : but I deem it proper to remark that the total number of vessels wrecked
or injured on these coasts and reefs since this Island was first inhabited (in 1823,) is
estimated to exceed 1,200, and the value of said vessels, their cargoes, <&c., not less
than $40,000,000.
The number of vessels wrecked in this neighborhood, and arrived a t this port in
distress or for repairs, during the last eight months (from 1st January to date,) are
wenty-one.
I hope that all merchants interested in the extensive trade that is constantly pass­
ing these perilous coasts and shoals, as well as all ship owners and underwriters, will
tduiy appreciate the valuable information herein contained, which I expect to renew ,
with all necessary additions and remarks, a t the expiration of every year.
I am, very respectfully, your most obedient servant,
E. J. GOMEZ, Spanish Consul, and
Agent for the Insurance Companies of Spain and Cuba.
STA TEM EN T O F V E S S E L S W R E C K E D ON

T H E F L O R ID A

COAST, AND

A S SIST E D BY T H E K EY

W E S T W R E C K E R S , D U R IN G T H E LAST E IG H T Y EA RS.

Years.

1844
1845
1846
1847
1848
1849
1850
1851

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

Amount
Vessels, awar’d for salvage,

29
26
53*
20
41
46
30
35

Total.......... 279

$92,712
69,592
124,400
50,854
125,800
127,870
122,831
75,852

19
00
28
00
00
00
00
00

$789,911 47

Amount
o f expenses,

$76,352
36,117
65,921
20,563
74,260
91,290
78,029
89,233

80
50
26
00
00
00
00
00

$531,766 56

Total amount of
Value of
salvage and expenses, vessels &. cargo.

$169,064
105,709
'190,321
71,417
200,060
219,160
200,860
165,085

99
50
54
00
00
00
00
00

$725,000 00
737,000 00
1,462,917 77
635,000 00
1,282,000 00
1,305,000 00
929,800 00
941,500 00

$1,321,678 03

$7,918,217 77

KING WILLIAM GROUP OF ISLANDS.
T o th e E d i t o r s o f th e S y d n e y M o r n i n g H e r a l d :—

Having been on a cruise to the King William Group, collecting cocoa-nut oil, I
found all the Islands very incorrectly laid down in the chart. I wish you would be
so kind as to make a note of it, for the benefit of masters of vessels cruising out of
this port. Likewise a shoal I discovered on my passage to the Island. I tacked ship
and had a good look at it. I made it in lat. 14° 58' S., long. 174° 49' E.
Drummond’s Island, South end, 1 2 8 | S., long. 175 7-J- E .; North end, 1 7 S., long
174 46 E.
Sydhan Island, S. end, 0 47 S., long. 174 32 E.; N. end, 0 29 S., long. 174 19 E.
Woodle Island, S. end, 0 12 N , long. 173 2 8 | E .; N. end, reef, 0 19£ N., long. 173
25 E.
Henderville Island, S. end, 0 9 N., long. 173 41 E .; N. end, 0 13£ N., long. 173 41;
westermost part, 173 50 E.
Simpson Island, S. end, 0 20 N„ 174 2 E., N. end, 0 30 N.; long. 173 54, westermost
part, 173 50.
Hale’s Island, S. end, 0 51, long. 173 3 E . ; N. end, 1 2 N., long. 173 4 ; W. end, 172
59 E .; E. end, 173 9 E.
Knox’s Island, S. end, 1 22J N., 173 13J E .; North, 1 40 N., long. 172 2 E .; W est
end 173 0.,
Charlotte Island, S. end, 1 43J N., 173 7 E .; N. end, 2 0 N., 172 58£ E .; W. end,
172 55 E.
Matthew’s Island, center, 2 0 N., 173 25J E.
Mugge’s Island, N. end, 3 1 9 | N., 172 57 E.
M any of those vessels w ere tost in th e severe hu rric an e ex p erien ced on th e 11th October.




Statistics o f Population , etc.

248

P itt’s Island, N. end, 3 13 N., 172 54 E .; S. end, 3 1£ N., 172 45 E . ; westermost
part, 172 40 E.
June 1st. Passed over the north end of a shoal at 11 A. M. not laid down in the
charts. Saw the bottom, say about 15 fathoms. Saw shoals places to windward. I
made the longtitude 160 15 E., lat. 28 8 S., of the place I passed over.
W ILLIAM DANING, Master schooner

C h ie fta in .

STANFORD CHANNEL, LOW ESTOFT.
T r in it y H o u se , L o n d o n , 9th December, 1852.

Consequent upon the Newcome Sands having gone in to the Westward, the East
Newcome Buoy has been moved nearly a cable’s length to the W. N. W. of its previous
position, and now lies in five fathoms a t low water spring tides, with the following
marks and compass bearings, viz.:—
The Spire of Lowestoft Church in line with the Lighthouse on Lowes­
toft North P i e r ..........................................................................................N. by W. N.
Pakefield C h u rc h ..........................................................................................W. N. W.
Stamford Light V essel................................................................................. N. E. N.

STATISTICS OF POPULATION, & c.
EMIGRATION TO TH E PORT OF NEW YORK,

The following tables, which we have compiled from the boohs of the Commissioners
o f Emigration, will exhibit the emigration for the year 1852; also the totals for the

three previous years. Subjoined is the first table, showing the number of passengers
to New YTork, both foreign born and native, for every month in the y e a r:—
J a n u a r y ..........................
F e b r u a r y . . . ...........
M a r c h ..............................
A p r i l ................................
M a y ...................................
J u n e ................................

Citizens.
1,703
2,562
3,134
3,545
3,917
5,541

Aliens.
11,592
5,342
21,726
28,193
33,372
49,225

J u l y ................................
A u g u s t ........................
S e p t e m b e r ................
O c to b e r .........................
N o v e m b e r ...................
D e c e m b e r ....................

39,052

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

Of

Citizens.
4,550
3,359
3,232
2,757
2,528
2,224

A liens.

29,403
34,613
36,777
17,765
16,573
15,019
299,504

t h e fo r e ig n e rs , t h e r e a r r i v e d fr o m —

I r e l a n d .................................
G e r m a n y ............................
E n g l a n d ................................
S c o t l a n d ................................
W a l e s ....................................
F r a n c e ....................................
S w i t z e r l a n d ........................
H o l l a n d .................................
N o r w a y .................................
S w e d e n ................................
D e n m a r k ............................
I t a l y .....................................
P o r t u g a l ................................

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

117,537
118,126
31,275
7,640
2,531
8,778

.........

1,889
2,066
156
358

.........

29

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

B e lg iu m ........................
W e s t I n d i e s ..............
N o v a S c o t i a ..............
S a r d i n i a .......................
S o u th A m e r i c a ........
C a n a d a .........................
S i c i l y ...........................
M e x ic o ..........................
R u s s i a ...........................
E a s t I n d i e s ................
T u r k e y ........................
G r e e c e ..........................
P o l a n d ..........................

82
265
73
69
120
48
14
42
22
33
18

4
6
186

T o ta l a lie n s . . . .
T o t a l A m e r ic a n c itiz e n s a r r i v e d ___

299,504
39,052

T o t a l p a s s e n g e r s .....................................

338,556




Statistics o f Population, etc.

249

The following table exhibits a comparative view of the emigration from all the
countries for the last four y e a rs:—
I r e l a n d ................
G erm any..............
E ngland................
S c o tla n d ..............
W a le s ..................
F ra n c e ..................
S p ain .....................
S w itzerland . . . .
H o llan d ................
N o rw ay ................
S w eden.................
D en m ark ..............
I t a l y .....................
P o rtu g al................
Belgium ................
W est Indies . . . .
N ova S cotia.........
S ardinia................
S outh A m e r ic a ..
C anada ................
C hina.....................
S icily.....................
M exico..................
R u s s ia ..................
E a st Indies...........
T u r k e y ................
G reece..................
P o la n d ..................
A ra b ia ..................

1849.
112,691
55,705
28,321
8,840
1,782
2,683
214
1,405
2,447
3,300
1,007
159
602
287
118
449
151
172
33
59
9
21
23
38
34
6
6
133
8

1850.
116,582
45,402
28,125
6,771
1,520
3,398
257
2,351
1,174
3,150
1,110
90
475
55
230
554
161
165
103
61
11
28
41
18
32
5
3
183

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

220,603

212,796

1851.
163,256
69,883
28,553
7,302
2,189
6,064
278
4,499
1,789
2,112
872
229
618
26
475
575
81
98
221
50
9
11
42
23
10
4
1
142

1852.
115,537
118,126
31,275
7,640
2,531
8,778
450
6,455
1,223
1,889
2,066
156
358
29
82
265
73
69
120
48
14
42
22
33
18
4
6
186
...

289,601

299,504

NUMBER OF PASSENGERS FOR THE EIGIIT YEARS FROM 1841 TO 1848, INCLUSIVE.
1841..................
1842..................
1843..................

57,337
74,949
46,302

1844..................
1845..................
1846..................

61,002
82,960
115,230

1847 ................
1848................

166,110
191,909
%

POPULATION OF N E W SOUTH WALES.

We derive the subjoined statistics of the population of New South W ales from a
la te number of the Sydney H e r a l d :—
The annual summaries of the population having heretofore included the inhabitants
of Port Philip, without distinguishing their numbers from those of the Sydney or
Middle District, we have not the means of tracing the progress of the population from
year to year, as has been our practice heretofore. In the Census returns the distinc­
tion is of course made, so th at our only course is to compare the numbers in the colony
on the 2d of March, 1846, with those on the 81st December, 1851; and also the
numbers a t the latter date with those ascertained by the census taken on the 1st of
March in that year. They were as follows :—
On the 2d of March, 1846 ..................................................
On the 1st of March, 1851..................................................
On the 31st of December, 1851.........................................

154,643
189,951
197,168

So th at between the first date and the last, a period of not quite six years, the popu­
lation had increased by 42,634 souls, or nearly 28 per cent, beiDg a t the rate of about
7,000 souls per annum. Between the 1st of March and the 31st of December, last
year, a period of ten months, the increase was 7,217, or nearly 4 per cent.




Statistics of Population, etc.

250

The circumstance which precludes a statem ent of the total population from year to
year, precludes also an annual statem ent of the proportions in which the increase was
caused by immigration and births respectively. Last year the numbers w e re :—
Im m ig ratio n ............................................................
D e p a rtu re ................................................................

7,890
4,902

N et increase by immigration........................
B irth s ........................................................................
Deaths .....................................................................

6,396
2,167

2,988

N et increase by b irth s .................................

4,229

Total increase in 1 8 5 1 .................................

7,217

We have now to notice the relative progress of the sexes.
thus constituted:—
On the 2d of March, 1846..........................
On the 1st of March, 1851 ........................
On the 31st of December, 1751 ...............

The population was

Maies.

Females.

92,389
108,601
113,032

62.145
81,260
84,136

So that during the six years the increase had been—males 20,643, or 22 per c e n t;
females 21,991, or 35 per cent. The females having increased more than the males
by 1,348.
The proportions in which the increase in the respective sexes was caused by immi­
gration and by births, w ere:—
Females.
3,091
1,544

Males.
5,799
3,358

Im m ig ra tio n . . . .
D e p a r t u r e ..............
N e t in c re a s e

2,441

547

B i r t h s .....................
D e a t h s ...................

3 ,2 4 4
1,344

3,152
823

N e t in c r e a s e

1,900

2,329

W e have for many years had occasion to remark on the steady increase in the pro­
portion of females to males. The following statem ent of the proportions of the sexes
to each ten thousand of the population, w ill show that this increase is still going on.
R A T IO O N T H E S E X E S .

On the 2d of March, 1846 ...............
On the 31st of December, 1851 . . .

✓

Males.

Females.

5,979
5,735

4,021
4,265

Total.

10,000
10,000

In other words, in the year 1846 the proportion of females to each 100 males was
67 ; in 1851 it had advanced to 74.
BRITISH CENSUS OF 1841 AND 1851.
PO PU L A T IO N O F G R E A T B R IT A IN AND O F T H E M E T R O P O L IS AND M AN U FA C TU R IN G D IST R IC T S .

1841.

1851.

England & W ales. 15,914,148 17,922,768
Ire la n d ................. 8,175,124 6,515,794

Scotland...............
Islands in Br. seas

1841.

1851.

2,620,184
124,040

2,870,784
142,916

26,833,496 27,452,262

Total.

M E T R O P O L IS A N D M A N U FA C TU R IN G D IS T R IC T S .

1841.
Lancashire
Y orkshire.




1,698,609
1,584,116

1841.

1851.
2,063,913
1,788,767

Cheshire
London.

368,400
1,948,369

1851.
423,438
2,361,640

Sta tis tics o f Popu la lion, etc.

251

URBAN POPULATION.

The Paris J o u r n a l des D e b a ts devotes an exceedingly able article to the census of
the United States in 1850 :—
“ There is, in this youthful nation,” says the Journalist, “ an extraordinary vigor;
and all it does and is, upon proportions hitherto unparalleled. The growth of the
cities affords the most remarkable example. In 1790, there were in the whole coun­
try only three agglomerations with more than 20,000 souls. Philadelphia, occupying
the first rank, had 43,000 ; New York, next in order, had 33,000. Now, we count up
in the Union seven cities of more than 100,000 each. New York, with Brooklyn and
Jersey City, which are suburbs separated only by rivers, has 650,000. It is the third
city of western civilization, for Europe has only two which exceed it—London and
Paris.
Philadelphia has........................................................................
409,000
B altim ore...................................................................................
169,000
B o sto n .......................................................................................
139,000
New O rleans.............................................................................
119,000
“ Cincinnati, in 1830, offered respectively only 10,000 and 6,000 population; they
have to day 116,000 and 83,000. If we take the fourteen most populous cities of the
Austrian empire, their population sums up a t 1,372,000. The fourteen principal cen­
ters of the American Union already contain within a fraction of 2,000,000. The un­
precedented progress of town population in the Union, exceeding so largely th at of
the country, accounts, among other things for the fact th at nearly the whole quantity
of breadstuffs raised is consumed a t hom e; and that in spite of the extreme fertility
of the grain crops, and their general cultivation, there is but a limited and 6lowly in­
creasing amount exported. And thus it happens, to the amazement of the commercial
world, that since the opening of British markets to foreign cereals, the United States
have supplied less than France, a result never for a moment anticipated.”
Qualifying the sequences of this writer by considerations, and the greater cost of
freight, we must still admit that there is much force in the reasoning. The growth of
the rural population compared with that of the towns, is the inverse expression of the
relation of the production to the home consumption of breadstuffs. The facts given
above indicate this distinctly, and we are justified in assuming that the tendency of
the townward movement is to enhance the price of food, and render life in town more
and more difficult year by year. No stronger argument could be added to those we
have already urged against the ruriphobia of the times. It deserves consideration.

FIR E -PR O O F BUILDINGS ERECTED IN SAN FRANCISCO.

The P a c ific furnishes the following statem ent of the number and cost of Fire-Proof
Buildings in San Francisco, including such as are in course of construction, or have
been contracted for, so far as can be ascertained:—
Streets.
P o w e l l ...................
S to c k to n ................
D u p o n t ...................
P i k e .....................
K e a r n y ................
M o n tg o m e r y .. .
S a n s o m e ................
B a t t e r y ...................
F r o n t .....................
F r e m o n t .............
M a r k e t ................

Buildings.
2

a
4

7
43
26
47
25
1
1

Cost.

Streets.

8 1 4 ,5 0 0 P i n e ................................
1 4 1 ,0 0 0 C a l i f o r n i a ....................
9 0 ,0 0 0 S a c r a m e n to ..............
1 0 ,0 0 0 C o m m e r c ia l................
4 0 5 ,0 0 0 C la y ..............................
1 ,4 0 8 ,0 0 0 M e r c h a n t ...................
4 3 6 ,0 0 0 W a s h i n g t o n ................
9 3 7 ,0 0 0 J a c k s o n ........................
3 5 0 ,0 0 0 G o ld ..............................
5 0 ,0 0 0 R in c o n P o i n t ...........
5 0 ,0 0 0 T h e C u s to m H o u s e .

Buildings.

i
33
18
7
29
14
20
7

3
2
1

Cost.
$ 2 0 ,0 0 0
6 5 5 ,0 0 0
2 1 2 ,5 0 0
1 5 4 ,5 0 0
3 2 8 ,0 0 0
1 3 1 ,0 0 0
2 6 8 ,5 0 0
8 1 ,0 0 0
3 6 0 ,0 0 0
2 5 ,0 0 0
3 7 5 ,0 0 0

It will be seen by the above, th at the total number of Fire-Proof houses in the city
of San Francisco, together with such as are under contract, is 305; and that the capi­
tal invested in them amounts to $6,501,500, as nearly as can be estimated. The value
of the land on which these buildings stand has not entered into the computation.




252

Journal o f Mining and Manufactures.

JOURNAL OF M IN IN G AND MANUFACTURES.
TH E MANUFACTURE OF GLASS.
N U M B ER V I.
M A N U FA C TU R E O F GLASS I N T H E U N IT E D STA TES, ETC .

I n o u r f o r m e r n u m b e r s w e h a v e r e c o r d e d t h e p r o g r e s s o f i m p r o v e m e n t in t h e m a n u ­
f a c tu r e o f G la s s , a n d n o w r e l e v a n t t o t h e s u b je c t, w e p r o p o s e t o e x a m in e t h e v a r io u s
im p r o v e m e n ts in w o r k in g f u r n a c e s a n d g la s s h o u s e s .
A s c o m p a r e d w i t h t h e f a c to r ie s o f t h e p r e s e n t d a y , t h e V e n e t i a n s i n t h e i r i n s t r u ­
m e n t a l i t i e s w e r e s u b j e c t t o m a n y d iffic u ltie s — th e y w e r e o p p r e s s e d b y t h e f u r n a c e
s m o k e , a n d in n o w a y p r o t e c t e d f r o m t h e h e a t o f t h e f u r n a c e , o r e n a b l e d t o b r e a t h e
f r e s h a t m o s p h e r ic a i r ; in fa c t, t h e im p r e s s io n p r e v a i l e d in th o s e d a y s , t h a t t h e e x t e r n a l
a i r d r a w n i n to t h e g la s s h o u s e , w a s d e t r i m e n t a l t o t h e b u s in e s s , a n d th e r e f o r e i t w a s
m o s t c a u t io u s ly g u a r d e d a g a in s t.

The factory wall of the ancient glass house was conical, and rose like a large chimney,
with a few windows for the admission of light. Exposed to the heat of the summer
sun of Venice, and the furnace internally, neither could be conducive to the comfort or
health of the workmen. The construction of the annealing departm ent shows two
tiers of pans, the use of which must have been attended with great loss of m aterials;
y et with all the perceptible inconvenience, no material change was made in their con­
struction for centuries. The same plan was adopted in France and England, and it is
only within the present century that any change in their construction has taken place
in England. In fact, in the year 1827, an Englishman erected a Glass Factory on the
same plan in the vicinity of New York, which, from its defective construction for this
climate, soon passed out of use.
T h e G e r m a n s , h o w e v e r , d e p a r t e d fr o m t h e V e n e t i a n p la n , so f a r a s t o p l a c e t h e
F u r n a c e in l a r g e a n d w e l l v e n t i l a t e d b u ild in g s , b u t w i t h o u t a f u r n a c e c o n e t o c a r r y o ff
t h e h e a t a n d s m o k e ; s t i l l a d e c i d e d i m p r o v e m e n t w a s e f fe c te d o v e r t h e s y s t e m in u s e
in F r a n c e a n d E n g la n d .

I t is admitted th at the American Glass House is far in advance of the European
ones a t the present day, in the particulars of capacity, ventilation, comfort of the
workmen, and economy in fuel. An impression is very prevalent th a t glass making is
a very unhealthy occupation ; it m ay have been thus in former times, but as a m atter
of fact, no mechanical employment is more healthy. Dissipated as glass makers have
been in former days, and careless of their health as they are a t present, no better evi­
dence can be adduced to prove the g e n e r a lly healthy character of the employment,
than the fact, th at the Glass Manufacturing Company in Sandwich, averaging in their
employment 300 hands, had not a man sick through the influence of the employment,
or one die in their connection for the space of twenty years.
To a stranger, a view of the furnaces with the workmen before them—the glowing
m etal whirled round and round, to be elongated for some particular shaped vessel,
and then the same workman a t his bench, rolling the iron in which the red-hot metal
is attached backwards and forwards, molding it into shape by the aid of his shears,
is curious and interesting. Boys passing backwards and forwards w ith long iron forks
in their hands, conveying the manufactured glass to the annealing ovens; others
passing to the receptacles for the cullet, into which they strike off the glass adhering
to the blowing-irons, might lead an inexperienced observer to think th at much con­
fusion exists; but he soon finds that every one has his place, and strict method prevails
throughout the whole of the works.
From observation and experience, it was found that large masses of glass material
could be melted at less cost than the same quantity divided into smaller parts, and
fused separately. In consequence of the knowledge of this important fact, very great
alterations and improvements were made in the furnaces, and the result answered the
warm est expectations. The very great saving effected in the article of fuel, as well as
in other things, induced the company, through its able superintendent, to expend within
the last three years, upwards of $100,000 in introducing machinery for facilitating the




Journal o f Mining and Manufactures.

253

various operations through which the crude material must pass, and in enlarging and
thoroughly revising all their works. New and enlarged buildings for preparing the
materials have been erected, and machinery for the transportation of articles and
packages from one part of the works to another has been introduced, thereby becoming
independent of much manual labor heretofore required. So much improvement has
been effected in almost all the operations carried on within the factory, that notwith­
standing the cost of materials used has been very much increased, the company have
been enabled to reduce the price of their manufactured articles 25 per cent within
the last few years. Another advantage, and by no means an unimportant one, arises
from the fact, that for all the fuel consumed in the works, and for the materials re­
quired in the multifarious operations, the company pays cash; on this account they
are not so apt to be affected by fluctuations in the price of articles, but can take a
favorable opportunity to lay in their stock at the lowest market rates. At the
present time, 1851, the company gives steady yearly employment to 428 individ­
uals.
It is curious to compare this with the number of operatives in the year 1825, when
the factory was in its infancy. At that time the pay roll embraced only 40 names.
This speaks well for the management of the concern, and proves that its prosperity
is steadily increasing. There is also an admirable feature in the dealings of the
company with their workmen, that ought not to omitted, and this is the practice of
paying every one employed by them semi-monthly. This conduces very much to the
comfort and self-respect of all, by enabling them to procure for their families whatever
they may need, at the best advantage, and preventing the disagreeable necessity of
accumulating debts. It would be something remarkable, if throughout the long
period of twenty-six years, the factory enjoyed an uninterrupted prosperity. There
have been times when the great establishments throughout the State and whole coun­
try felt the pressure from without; when the monetary affairs of the country were
disturbed from causes occasionally operating. At such times the talents of individu­
als who have the management of their respective factories become severely tested,
and much credit is due to those who, by their care and foresight, are able to ride out
these temporary gales, without a rent in their canvas.
The factory under consideration is fortunate in having an experienced superinten­
dent; every man who is in any way connected with it, feels the most unbounded con­
fidence in him. Intimately acquainted as he is, with the business in all its various
ramifications, there is no hesitation arising from inexperience when prompt action is
required, but every branch of business progresses advantageously and harmoniously,
because an intelligent system pervades every department of the works. Some idea
may be formed of the extent of business carried on in this factory, by an examination
of the following list of articles yearly required to supply its wants:—
1,300 tons Berkshire silex; 620 pig lead; 400 tons ash; 50 tons nitre; 300 tons
cullet; 400 tons straw; 150 tons clay; 50 tons iron; 100 tons tin, manganese, phos.
soda,paper, <fec.; 160 M hoops; 600 M staves; 25,000 pairs of heading; 9,000 tons
coal; 760 tons rosin; 500 cords oak and pine wood.
d. j .
OSWEGO STARCH FACTORY.

The Oswego Starch Factory has a new iron frame weighing about three hundred
thousand pounds, which is now the largest establishment of the kind in the United
States. The factory and buildings cover an acre and a half of ground, and are lighted
by between seventy-five and one hundred skylights. The buildings contain six hun­
dred thousand pounds of machinery, among which are three cast-iron kettles, holding
one thousand gallons each; eight little pumps, capable of discharging eighty thou­
sand gallons of starch an hour; five rotary and force-pumps, capable of discharging
five thousand gallons of water a minute; over one mile in length of water-pipe; two
hundred vats used in the manufacture of starch, holding eight hundred thousand galgallons, and four pairs of cast iron rollers, weighing ten thousand pounds each. This
establishment gives employment to one hundred men, and consumes annually from
one hundred and seventy-five thousand to two hundred thousand bushels of corn,
eight hundred tons of anthracite coal, and from six hundred thousand to eight hun­
dred thousand feet of lumber in the manufacture of boxes, and other purposes, and
makes ten thousand pounds of starch per day. The machinery is propelled by four
water wheels, combining eighty horse power.




254

Journal o f Mining and Manufactures.
PRODUCT OF TH E AUSTRALIAN GOLD FIELDS.

V ic t o r ia papers of the 7th of September, 1852, announce the discovery of two
fresh gold fields on the Aniki Hills and in the Forest Creek District. The London
T im e s has collected from Australian journals the subjoined summary of the product
of the gold fields:—

Large quantities of gold arrived in Melbourne within the first days of September,
and £400,000 of specie were imported into the colony in the last week of August,
and the first week of September, 1852. The Government escort from Ballarat brought
to Melbourne and Geelong on the 4th of September, 1852, 4,627 ounces; and on the
6th the Victoria Escort Company brought 83,805 ounces—making a total of 38,433
ounces. The most brilliant test of the continuity of the yield of the two great gold
fields of Mount Alexander and Ballarat is given in a series of escort returns published
in the Melbourne A r g u s , embracing the period from October, 1851, to the end of August, 1852. The following are the totals:18,482 April..
October, 1851 ...
60,878 May...
November..........
169,684 June..
December.........
107,216 July...
January, 1852...
February...........
111.778 August
March...............
122.778
Making, with the addition of an odd 40,000 ounces from some
smaller places, an enormous total o f ......................................

135,112
138,906
162,990
353,182
350,968
1,771,974

or between 73 and 74 tons of gold. Of course this statement relates only to part of
the fabulous yield of the Victoria Gold Fields. The following table will perhaps come
near the actual yield;—
Amount actually shipped.............................................................ounces
Amount deposited in the Treasury and Banks.......................................
Amount paid into Adelaide Assay Office..............................................
Probable amount exported in private hands...........................................
Probable amount in private hands in Melbourne and Geelong................
Probable amount in the hands of diggers at the gold fields, and on the
roads................................................................................................
Grand general total of the yield of the Victoria Gold Fields at
the end of August........................ ........................................
or 105 tons, 10 cwts., and 2 ounces of gold.

1,240,528
310,377
264,317
337,200
100,000
280,000
2,532,422

We may here remark that the gold exported since October last represents a value
of £8,863,477, and all these accounts, we are assured by the Melbourne H e ra ld , are
rather under than over stated. These astounding results have been obtained by un­
skilled laborers, working without either plan or concert.

MARBLE AND LIM E QUARRY IN CALIFORNIA.

It is stated in the Marysville E x p re s s, that the most extensive marble and lime
quarry known in California, is located on the American River, about thirty miles from
Sacramento. The most beautiful black, white, and variegated marble is produced
from the quarry, susceptible of the highest polish. The quarry has been opened to
the depth of twenty feet. The surface is much broken, apparently by volcanic heat,
but this broken rock when burned, makes the purest and whitest lime we have ever
beheld. At the depth of ten feet the rock is in ledges and can be quarried into piers
of fifteen feet in length, or slabs from four to ten feet square. This is the same ledge
from which the blocks were obtained by Governor Bigler to forward to Washington
as California’s offering for the Washington monument. The rock quarries easily, and is
susceptible of a polish equal to any Italian marble. There are three lime-kilns now in
operation, which will supply the demand for lime, and the ledge is sufficiently exten­
sive to 'supply the demands of the entire State.




Journal o f Mining and Manufactures.

255

SH IP BUILDING AT TH E PO R T OF NEW YORK IN 1852.

give below a summary statement of the tonnage of vessels launched during
the year 1852, the amount of tonnage on the stocks, the aggregate launched and on
the stocks, with a classification of the same, together with the comparative tables for
the four preceding years:—
We

On the stocks.
3,000

J. J. Simonson......................
William Collyer...................
George Collyer....................
William H. Brown...............
George Steers.....................
Jacob A. Westervelt and Son.
William H. Webb................
Smith and Diiuon..................
Abraham C. Bell..................
Lawrence and Foulkes.........
Perrine, Patterson and Stack.
Samuel Sneeden..................
Jabez Williams and Sons.. . .
E. F. Williams...................
M’Dermott and Lupton.........
Eckford Webb......................
Alburtis and Morgan...........

103
900
338
6,900
5,660
. . . .

1,100
225
1,440
700
300
80
. . . .
. . . .

500

Aggregate tons.
6,000
2,338
253
4,200
425
15,371
17,756
2,500
2,700
1,155
10,020
4,637
1,890
1,070
800
1,400
1,100

Launched.
3,000
2,338
150
3,300
87
8,471
12,096
2,500
1,600
900
8,580
3,937
1,590
990
800
1,400
600

21,276
52,339
73,615
Total........................
Showing that the total number of vessels at present on the stocks or launched du­
ring the year just closed is ninety-seven, whose aggregate tonnage is '73,615; and
that of this amount 52,339 has been launched, and that 21,276 remains to be launched.
The vessels above enumerated, may be classified as follows :—
C L A S SIFIC A T IO N .

Steamboats,
Steamships, ferry-boats, &c.

Launched...............................
On the stocks..........................

11*
5

80
12

Other
sail vessels.

Ships.

10

18
3

8

16
42
Total............................
18
21
Ths following is a comparison of five years:—
1848.............................
15,710
52,359
38,085
1849............................. .......
23,890
61,965
1850.............................
27,516 •
79,731
15,240
1851.............................
80,761
21,276
1852.............................
73,615
The following table shows the number.of certain classes of vessels launched during
the years mentioned:—
Years.

Ships. Steamships.

Years.

^

Ships. Steamships.

1849 ..................
17
3
I
1851...................
22
11
1850 ..................
18
14
|
1852...................
10
11
The total number of steamships ever built at this port and launched is fifty-nine.
COTTON AND OTHER MANUFACTORIES OF PRU SSIA .

From a statistical returnjust published by the Prussian government, it appears that
there now exist in that country 2,207 spinning mills; 5,188 manufactories, dye-works,
and cotton-printing establishments; 39,253 mills of different kinds; 12,960 large metal
works; 17,165 breweries and distilleries; and 4,535 other manufactories of different
kinds—making a total of 81,308 establishments, occupying 515,551 workmen.




Including the Caloric ship Ericsson.

Journal o f Mining and Manufactures.

256

PROGRESS OF TH E PENNSYLVANIA COAL TRADE,

We find in a series of articles, published in the N o r th A m e r ic a n , (Philadelphia,) an
estimate of probable increase of the coal trade for the next nine years. The calcula­
tions in this estimate are based upon an annual increase of about 20 per cent. The
increase of 1851 was considerably greater than this. But putting the rates of increase
at only 16 per cent, would give an annual production for the next nine years as follows:—
1851.........
13,409,922
4,383,730 1855.
1859___
1852.........
5,041,289 1856. .......
15,420,400
8,817,243 1860___
1853.........
5,797,481 1857.
17,734,621
1861___
1854.........
6,667,103 1858. .......
11,660,802
The fact that the annual consumption of coal in England and Wales is oyer
34,000,000 tons, shows there is at least nothing incredible in the results here shadowed.
The general distribution of the coal trade at the present time is in nearly the follow­
ing ratio:—
Delaware and Hudson........
Lehigh...............................

1,000,000 |Schuylkill........................
1,100,000 |Reading...........................

900,000
2,000,000

Total.........................................................................................
6,000,000
Taking this ratio of distribution, the writer makes the following calculation upon
the business of the next ten years, assuming that the companies named increased their
capacity for carrying the amounts here set down to them:—
Years.
1 8 5 3 .............
1 8 5 4 .............
1 8 5 5 .............
1 8 5 6 .............
1 8 5 7 .............
1 8 5 8 .............
1 8 6 9 .............
1 8 6 0 .............
1 8 6 1 .............

Delaware and
II udson.
1,159,496
1,333,421
1,533,433
1,763,449
2,027,966
2,332,160
2,681,985
3,084,282
3,546,513

Lehigh.
1,275,446
1,466,762
1,686,777
1,939,783
2,230,762
2,565,277
2 ,9 50,182
3,392,711
3,901,177

Schuylkill
navigation.
1,043,547
1,209,078
1,380,091
1,587,103
1,225,169
2 ,0 98,944
2,413,786
2,775,853
3,191,872

Reading.
2,318,992
2,666,842
3,066,867
3,526,998
4,055,932
4,664,321
5,383,969
6,168,564
7,093,040

Total.
5,787,481
6,667,103
7,667,163
8,817,243
10,139,821
11,660,802
13,409,922
15,426,415
17,731,621

IN V ESTM EN TS IN MANUFACTURES.

The B o s to n J o u r n a l says: “ The current of investment is now turning strongly to­
wards factory stocks, which are beginning to hold out brilliant prospects in the way of
dividends. A very important change in several branches of the manufacturing busi­
ness has been going on during the last six months. The demand for domestic goods
has increased greatly, and prices have advanced sufficiently to yield handsome profits.
This fact, which is beginning to be realized in the community, furnishes a key to the
present movement in factory shares. The truth is that a large majority of our manu­
facturing stocks are now selling at prices much below their value, as can be easily
demonstrated by reference to facts and figures. The Bay State Mills, for example,
held in the market at from $890 to $900 per share, or about ten per cent below the
par value, will earn for the current business year full ten per cent net, and pay a divi­
dend in February next of not less than six per cent, or $60 per share, while for the
ensuing year the business prospects of the concern are decidedly better. The mills are
stocked with more than a year’s supply of wool, the advance on which alone, com­
paring the cost with prices now ruling, would be about equal to the respectable sum
of two hundred thousand dollars. The Amoskeag Manufacturing Company shares,
with the prospects of a semi-annual dividend in February of five or six per cent, are
selling at but ten per cent advance, while Hamilton and Massachusetts, with probable
dividends of four per cent nearly at hand, are bringing only about par value. The
same remarks will apply to many other companies, which we have not space to men­
tion in detail; but the arguments in factory stocks entitled to most weight, are those
which refer to the prospects ahead—certainly most brilliant and encouraging.”




Railroad, Canal, and Steamboat Statistics.

25 7

RAILROAD, CANAL, AND STEAMBOAT STATISTICS.
COLLINS AND CUNARD STEAM SHIPS.

We give below a tabular statement of the arrangement for the time of departure
of the several steamships of the Collins and Cunard Ocean Mail Steamships for the
eleven unexpired months of 1853, and for January, 1854: —
FOR LIVERPOOL.

Boston......................... Saturday.......................February 5 .................... Cunard.
New York.................... Wednesday .
.........
“
9 ..................... Collins.
“
.................... Saturday ...
.......
“ 12.................... Cunard.
Boston..........................
“
19.
New York.....................Wednesday ,
.........
“ 23....................Collins.
“
................ .Saturday ...
•• •■
“ 26....................Cunard.
Boston.........................
“
......... March 5 ...........................
«
New York.................... Wednesday .
......... “ 9 ........................ Collins.
“
.................... Saturday ...
......... “ 1 2 .......................Cunard.
......... “ 1 9 ........................... “
Boston.........................
“
New York.....................Wednesday .
.........
“ 2 3 ....................... Collins.
.................... Saturday ..,
“
.........
“ 2 6 .......................Cunard.
......... April 2.............................
“
Boston.........................
“
New York.....................Wednesday .
......... “ 9.......................... Collins.
“
.................... Saturday ...
.......... “ 9........................... Cunard.
Boston ........................
“
......... “ 16............................
<*
New York.....................Wednesday .
......... “ 20.......................... Collins.
“
.................... Saturday ...
.......... “ 23- ......................... Cunard.
Boston..........................
“
.......... “ 30.............................. “
New York.....................Wednesday.......................May
4 .............. Collins.
“
Saturday.............. “ 7............................ Cunard.
Boston.............................
“
“ 14..................
“
New York.....................Wednesday......................“ 18............................Collins.
“
Saturday.............. “ 21............................ Cunard.
Boston.............................
“
“ 28.................. “
New York.....................Wednesday...................... June
1 ............. Collins.
“
.................... Saturday.......................
“ 4 ..........................Cunard.
“
Boston.............................
“ ...................... “ 1 1 ...........................
New York.....................Wednesday........................ “
1 5 ............Collins
“
.................... Saturday........................... “ 1 8 .................... Cunard.
Boston.............................
“ ...................... “ 2 5 .......................... “
New York.....................Wednesday........................ “
2 9 ........... Collins.
“
.................... Saturday......................... July 2 ...............
Cunard.
Boston.........................
“
......... , .......... “ 9 .........................
«
New York.................... Wednesday..........
- “ 1 3 ................................Collins.
“
.................... Saturday...........
• “ 1 6 .............................. Cunard.
Boston.............................
“ .............
. “ 2 3 ...................................
“
New York.................... Wednesday..........
• “ 2 7 ...............................Collins.
“
.................... Saturday........... .
• “ 3 0 ........................... .Cunard.
Boston.............................
“ .............
•August 6 .............................
“
New York.....................Wednesday..........
• “ 1 0 ............................Collins.
“
.................... Saturday........... .
• “ 1 3 ........................... Cunard.
Boston.............................
“ .............
“ 2 0 ..............................
“
New York.....................Wednesday..........
•
‘ 2 4 ............................Collins.
“
.................... Saturday.............
•
“ 2 7 ........................... Cunard.
Boston.............................
“ .............
•September 3 ....................
“
New York.....................Wednesday..........
7 .....................Collins.
“
.................... S aturday.........
•
“
1 0 ....................Cunard.
Boston.............................
“ .............
1 7 .......................
“
New York.....................Wednesday..........
2 1 .....................Collins.
“
.................... Saturday.............
2 4 .................... Cunard.
V O L . X X V III.— N O . I I .




17

Railroad, Canal, and Steamboat Statistics.

258

Boston . . .
New York.
«(
Boston .. .
New York.
«
Boston . . .
New York.
<«
Boston . . .
New York.
Boston . . .
New York.
it

Boston . . .
New York.
it

Boston__
New York.
M

Boston
New York..
<(
Boston___
New York..

.Saturday ..
.Wednesday
.Saturday ..
.Wednesday
.Saturday ..
.Wednesday
,Saturday ..

a

Wednesday
Saturday ..

. October 1 ...............
“
5 ..................
“
8 ..................
“
1 5 ...........................
“ 1 9 ..................
“
99
.
“
2 9 ...................
. November 2 ..............
“
5 ......... .
«
1 2 ................ ..
“
1 6 ..............
“
1 9 ............

“
.Wednesday
.Saturday ..

a

.Wednesday
.Saturday ..

a

.Wednesday
.Saturday ..

u

Wednesday
Saturday ..
.Wednesday

.

26...................

3 0 ..............
.December 3 ..............
“
1 0 ..............
.
“
1 4 ..............
“
1 7 ..............
“
2 4 .......................
.
“
2 8 ..............
“
3 1 ..............
January 7, 1854 __ ___
“
1 1 ..................
“ 1 4 ..................
“ 2 1 ...................
“
2 5 ................

“
it

“

“

“

it

“

“
“

F O R T H E U N IT E D STA TES.

.Wednesday.................. February 2
Boston
............Gunard.
New York.....................Saturday
5 ...............Collins.
“
.................... Wednesday .
9 ...................Cunard.
1 6 .......................
“
Boston.........................
“
New York.....................Saturday . ..
1 9 ...................Collins.
“
.................... Wednesday .
2 3 ........................Cunard.
.March 2 ...................... “
Boston..........................
“
New York.....................Saturday ...
5 ............................ Collins.
.................... Wednesday .
“
9 ...................... Cunard.
1 6 ....... ....................
“
Boston.........................
“
New York.....................Saturday ...
1 9 ............................ Collins.
“
.................... Wednesday .
2 3 ............................ Cunard.
3 0 ............................
“
Boston
New York..........
tt

New York..........
a

«
New York..........
ii

Boston..............

a

ii

New Y ork........................ S a tu rd a y .......................
14 ....................... Collins.
“
................ . . .W ednesday..................
18........................... Cunard.
25........................... “
“
..................
B o sto n ..............................
New York.........................S a tu rd a y ......................
28 ................
.Collins.
“
W ednesday...........Ju e 1 ......................... Cunard.
8 ......................... “
B o sto n ..............................
“
...................
New York......................... S a tu rd a y ......................
1 1 ......................... Collins.
“
W ednesday...... ...................
1 5 ...................... Cunard.
2 2 ................................................
“
B o sto n ..............................
“
..............
New York......................... S a tu rd a y ......................
2 5 ..................
Collins.
“
W ednesday.......
2 9 ...................... Cunard
B o sto n ...............................
“
July 6 ............... ................................ “
9 ......................... Collins.
New York.................... .S a tu rd a y .........................
“
W ednesday.......
1 3 ........................ Cunard.




Railroad, Canal, and Steamboat Statistics.
Boston . . .
New York.
Boston . . . .
New York..
«<
Boston___
New York..

M

Boston___
New York..
M

Boston . . . ,
New York..

a

Boston___
New York.
«
Boston___
New York.
M

Boston .. .
New York.

«

Boston__
New York.
if

Boston . . .
New York.
M

Boston . . .
New York.
Boston . . .
New York.
Boston .. .
New York.
«(
Boston . . .
New York.

259

Saturday ..
Wednesday

July 2 0 ....................... Cunard.
. “ 23 . ...................... Collins.
. “ 2 7 ........................ Cunard.
•August 3 .................... “
.
“
6 .....................Collins.
.
“ 1 0 ......................Cunard.
.
“ 17.....................
“
.
“ 2 0 ......................Collins.
.
“ 2 4 ......................Cunard.
“
“
8 1 ....................
•September 3 ............... Collins.
.
“
7 ...............Cunard.
1 4 ............... “
.
“
1 7 ................ Collins.
.
“
2 1 ................ Cunard.
«
2 8 ............... “
. October 1.....................Collins.
.
“
5................... Cunard.
.
“
12....................
“
.
*
15.....................Collins.
.
“
19.....................Cunard.
26....................
“
.
“
29....................Collins.
.November 2.................Cunard.

Saturday ..
.Wednesday

.
.

.Wednesday
.Saturday . .
•Wednesday

«

. Saturday . .
• Wednesday

((

•Saturday . .
•Wednesday
Saturday . .
.Wednesday
tt

,Saturday . .
,Wednesday
Saturday . .
Wednesday

Saturday ..
Wednesday

Saturday . .
Wednesday

Saturday ..
Wednesday
.Saturday ..
Wednesday
(i

.Saturday ..
Wednesday
Saturday . .
Wednesday

9 .................

“

“
12.,..............Collins.
“
16..................Cunard.
“
23.................
“
.
“
26................. Collins.
.
“
30..................Cunard.
.December 7................. “
“
10..................Collins.
“
14.................Cunard.
“
21................
“
“
24....... .....Collins.
“
28.................Cunard.
•January 4, 1854........... “
“
7.................... Collins.
,.
“
11.................... Cunard.
“
18.................... “
..
“
21.................... Collins.
..
“
25.................... Cunard.

WORKING OF TH E ERICSSON ENGINE.

A French engineer, in an article published in the C o u rier des M a t s U n is on the
Caloric ship E ricsson , illustrates the operation of the regenerator, or wire apparatus
in alternately heating and cooling the same volume of air, in the following apposite
manner:—
“ The great fundamental principle of the transmission of caloric cost the inventor
twenty years of reflection to realize in this machine. It consists in using constantly
the same heat to warm the air which is made to enter the cylinders. The apparatus
by means of which this principle is applied, is called a regenerator, and we can form
a clear idea of it by supposing that a man has his mouth filled with a warm metallic
sponge; if he draws in his breath, the exterior air, in traversing the pores of the
warm sponge, will itself be waimed, and will arrive warm into the lungs, while the
sponge, having parted with its caloric, will have become cold; if he exhales the air
thus warmed, this air, in again traversing the sponge, will again warm it, and will
come out reduced in temperature. If, instead of producing these movements by the
contraction of the muscles of the breast of the individual, an ordinary bellows is
adapted to the mouth to produce the inhalation and the exhalation, we well nigh have
E ricsson ’s machine.”




R ailroad, Canal, and Steamboat Statistics.

260

RAILROADS IK TH E UKITED STATES.

In the M e r c h a n ts ' M a g a z in e a n d C o m m e r c ia l R e v ie w for January, 1853, (vol. xxviii.,
pages 107-115,) we published a tabular statem ent of the number of miles of railroads in
operation, and in course of construction, cost, when opened, etc. The following state­
m ent is derived from Mr. D insm oke ’s “ A m e r i c a n R a i l w a y G u id e ” for January, 1853.
The number of miles in operation, according to the table published in the January
num ber of this Magazine, is 13,586; according to the R a i l w a y G u id e , the number is
13,227. W e put down the number of miles in course of construction a t 10,828, while
in the statem ent below the number of miles p u t down “ inprogress” is 12,928. The
discrepancy in this last item is great, which, we presume, is owing to the fact that the
G u id e has included several projected railroads:—
On the 1st’of January, 1853, there were in the United States 13,227 miles of com­
pleted railroad, 12,928 miles of railroad in various stages of progress, and about 7,000
miles in the hands of the engineers, which will be built within the next three or four
years—making a total of 33,155 miles of railroad, which will soon traverse the coun­
try, and which, a t an average cost of $30,000 (a well ascertained average) for each
mile of road, including equipments, etc., will have consumed a capital amounting to
$994,650,000, as follows:—
13,227 miles completed....................................................
12,928 miles in progress...................................................
7,000 miles under survey...............................................

$396,810,000
387,840,000
210,000,000

33,165

$994,650,000

T otal............................................................

or in round Dumbers—$1.000,000,000—one billion of dollars: a sum which, a t 6 per
cent, would yield $60,000,000 annually, or more than sufficient to cover all the ex­
penses of the United States Government and of the Governments of every State
composing the United S tates!—if administered with republican economy. This esti­
mate of the railroads of the United States differs m aterially from th at published by
the Census Office, and that by Mr. Andrews in his late report to government—but is
based upon actual ascertainments. Both of these documents, however, refer to a date
anterior to 1853.
The following railroads will be completed within the next few months: —
The Lawrenceburg and U pper Mississippi Railroad, 96 miles, extending from Lawrenceburg, on the Ohio, to Indianapolis—42 miles to Greensburg will be opened this
month, and the remainder in October.
The Sackett’s Harbor and Ellisburg Railroad, 18 miles, will be completed this
month.
The Atlantic and St. Lawrence Railroad, from its present terminus to Island Pond ,'
will be completed the coming season.
The Central Illinois Railroad, between La Salle and Bloomington, will be opened
in April next,
The Canandaigua and Niagara Railroad will be opened the coming spring.
The Central Indiana Railroad will be completed in less than three months.
The Selma and Tennessee River Railroad will be completed in p art by early spring.
The Lafayette and Indianapolis Railroad, now open to Lebanon, 37 miles, will be
completed in February.
The Indianapolis and Bellefontaine Railroad will be completed in less than two
months ; and the Bellefontaine and Indiana Railroad during the coming season.
The Ironton Railroad will be opened 15 miles from its present terminus this month.
The Lexington and Covington Railroad will be finished 30 miles in May next, and
the whole in the fall of 1853.
The Lexington and Danville Railroad is in rapid progress.
The Virginia and Tennessee Railroad, now open 7 2 miles, will be complet ed to
W ytheville, 135 miles from Lynchburg, the next summer.
The Ohio and Mississippi Railroad will be open from Cincinnati to a junction with
the Jeffersonville Railroad within three months.
The Belchertown and Am herst Railroad will be open in the middle of January




Railroad, Canal, and Steamboat Statistics.

261

and several others, of which our space forbids the enumeration, are being rapidly
finished.
The following railroads have lately commenced operations, and have their Time Ta­
bles published in the A m e r i c a n R a i l w a y G u i d e :—
The
The
The
The
The
The
The
The
The
The
The
The
The
The
The
The
The
The
The
The
The
The
The

Akron Branch R a ilro a d ............................................... miles
Androscoggin R ailroad..........................................................
Cleveland and Erie R a ilro a d .......................................
Charlotte and South Carolina Railroad..............................
Chicago and Mississippi Railroad.........................................
Chicago and Rock Island R a ilro a d ....................................
Dayton and Greenville R a ilro a d .........................................
Erie and North-East R a ilro a d .............................................
Greenville and Columbia R ailo ad ......................................
King’s Mountain R ailroad......................................................
Lafayette and Indianapolis Railroad..................................
Milwaukee and Mississippi R ailro ad ..................................
Nashville and Chattanooga Railroad..................................
Orange and Alexandria Railroad.........................................
Peru and Indianapolis Railroad...........................................
Plattsburg and Montreal Railroad........................................
South Side (Virginia) R a ilro a d ...........................................
Scioto and Hocking Valley R a ilro a d ................................
Troy and Boston R a ilro a d ...................................................
Virginia Central Railroad......................................................
Virginia and Tennessee Railroad..........................................
W estern Vermont R a ilro a d ..................................................
Wilmington and Manchester R ailroad................................

18
20
92
112

V

52
40
85
19
102
32
37
56
151
S8
22

62
62
20

32
107
72
83
79

.

M ARINE DISASTERS ON TH E LAKES IN 1851.

The subjoined summary statem ent of the marine disasters th at have occurred on
the W estern Lakes was prepared by Captain G. W. R ounds, agent of the NorthW estern Insurance Company:—
Amount of loss by collisions..
Other casualties.........................
By steam vessels has been. . . .
By sail vessels has been...........
By American vessels has been
By British vessels has been.............................................................................
On Lake Ontario by Bteam......................................................
$49,350
“
sail..........................................................
29,599

$261,950
730,709
638,620
350,039
907,487
85,172
78,939

On Lake Erie by s te a m ..........................................................
“
s a i l ...............................................................

543,470
197,830

On Lake Huron by steam .......................................................
“
sail............................................................

16,000
53,600

On Lake Michigan by ste am ...................................................
“
sail........................................................

S00
78,020

741,300
69,600

On Lake Superior by steam

78,820
24,000

Of the two hundred and twenty-nine disasters, seven occurred in the month of April,
nineteen in May, twenty-four in June, fifteen in July, sixteen in August, twenty-one in
September, twenty-seven in October, eighty-five in November, (fifty-five in one gale
of the 11th and 12th,) and fifteen in December. In many instances the amount of
losses as above stated have been m atters of estimate.




262

R ailroad , Canal, and Steamboat Statistics.
RAILROADS IN TH E STATE OF NEW YORK.

Gov. S eymour, in his message to the Legislature of New York, gives the following
abstract of some of the statistics of the railroads of the State of New York, taken
from the returns made to the State Engineer, for the year ending September 30th,
1852. As soon as the report of the Chief Engineer is printed, we shall publish in the
M e r c h a n ts ' M a g a z in e a full statistical statem ent of all the railroads in the State.
“ Twenty-seven corporations only have made returns. Three other corporations,
which made returns last year, have not filed the annual reports required by law.
“ There have been filed in the office of the Secretary of State, articles of association
for forty-one additional railroad corporations. Several of these roads are known to
have been completed, and upon others large expenditures have been made. The
railroad corporations are by law required to file their annual reports with the State
Engineer by the 1st day of December. None of them have complied with this pro­
vision, and the late date at which many of them were sent in, delays the State En­
gineer, and prevents him from complying with section 103 of the general railroad law,
which requires him to arrange the information in a tabular form, and to report to the
Legislature on the first day of its session.
The number of miles of road in use on the 27 railroads reported i s ............. 1,797
And adding the lengths of the roads not reported, as given last year, makes 2,027
This is an increase in the number of miles in use, over the number reported
last year, o f ..........................................................................................................
297
The total cost of the 27 roads reported up to 30th Sept., 1852, is $82,812,160 63.
“ The total expenditure on all of the roads constructed and commenced in this State,
is probably about one hundred millions of dollars. The number of passengers carried
in cars on twenty-one roads reported, is 7,061,909. And the number of miles traveled
by the passengers is 332,847,667. The increase on 18 roads over the preceding year
was, of passengers, 1,487,087, and of miles traveled, 92,858,860. The number of tons
of freight carried over 21 roads reported, is 2,060,379. The increase over the preced­
ing year on 17 of these roads, is 821,101 tons. The number of persons injured in life
or limb on 26 roads reported, is 256; of whom were killed, 158. The increase over
the preceding year, on 25 of these roads, is, of persons killed, 59, and of persons in­
jured, 44. These railroads traverse almost every county in the State. There are no
sections of its territory which have not now cheap and convenient avenues to market,
by means of lakes, rivers, canals, and railroads. The recent extension of the last
named improvement will rapidly increase the wealth and population of the State.”
STEAMBOAT PROGRESS AT TH E W EST,

The Pittsburg P o s t has an article on the progress of steamboat building at that
place and in the West, from which it appears that the first steamboat built in P itts­
burg was launched in the month of March, 1811. She was called the N e w O r le a n s ,
and was built under the superintendence of Mr. Rosevelt, for Messrs. Fulton & Living­
ston of New York. She was a boat of 138 feet keel, and calculated tor about 400
tons burthen. The N e w O r le a n s arrived a t Natchez in December of the same year,
when she took in loading and passengers, for the first time, and proceeded to New
Orleans. She afterwards ran as a regular packet between Natchez and New Orleans.
The second steamer built at Pittsburg was the V e s u v iu s , three years afterward,
which first left Pittsburg, April, 23, 1814, to run in connection with the above named
steamer, between the Falls of the Ohio and New Orleans. The Vesuvius was of 480
tons burthen, carpenter’s measurement, 160 feet keel, and 28 feet 6 inches beam, and,
when loaded, drew from 5 to 6 feet water. The whole of her hold, below deck, ex­
cept a neat cabin for ladies, and the space occupied by her machinery, was appropri­
ated for the storage of freight. A cabin was built on her deck, which extended nearly
half her length, and was “ elegantly fitted up,” having twenty-eight double berths on
each side. The departure of this boat from Pittsburg created considerable excite­
m ent; she passed up the Monongahela in front of the town, and as she passed down,
fired a salute, and was greeted by the cheers of the crowd of citizens who were assem­
bled on the bank. A correspondent of N i l e s ’ R e g is te r , of May 21, 1814, gives the
following account of her progress down the river, a short distance, which was very




Railroad, Canal, and Steamboat Statistics.

263

good, considering she was the second steam er built here, and one among the first
ever built:—
“ In order to witness and ascertain her speed, I crossed the Alleghany, and mounting
a very capital horse, I endeavored to keep pace with her along the road which skirts
the river. But she moved so rapidly, th at after riding three miles and a-half in nine­
teen minutes, I gave up the attem pt. In one hour and thirty minutes she was a t
Middleton, 12 miles below Pittsburg.”
The Vesuvius arrived a t Cincinnati on the 23d of April, in 40 hours from this city.
The river was high, however, and she had no freight. The run to Louisville was made
in sixty-seven hours and twenty five m inutes; from thence to Natchez, one hundred
and twenty-five hours and a half; and from Natchez to New Orleans, thirty three
hours, making the total between Pittsburg and New Orleans, two hundred and twentysix hours. The Vesuvius was built by Mr. Pulton of New York, under the agency of
Messrs. Livingston & Latrobe, for companies who vested large capitals in the establish­
ment.
Two steamsrs were now built to run between Pittsburg and the Falls of the Ohio,
and thus form the steam connection with New Orleans. The steamboat Buffalo, of 285
tons burden, was launched, and was expected, as she only drew two feet six inches
of water, to run all summer. The steam er Enterprise, built a t Bridgeport, on the
Monongahela, arrived a t Pittsburg, on the 8th of June, 1814, and was found to work
very well. She was also intended to run between Pittsburg and the Falls.
Thus was the first steam connection established between Pittsburg and New Orleans.
Since that time, thirty-eight years have elapsed, and in contrast with the efforts of the
first period the P o s t gives the steamboat statistics for the four collection-districts on
the Ohio river for the year 1851.
The total number of steamers constructed in these districts during the year was
320, distributed as follows:— Pittsburg, 112; Wheeling 46; Cincinnati, 111; Louis­
ville, 61. The aggregate tonnage amounted to 64,297 tons, of which 19,942 tons be­
longed to Pittsburg; 7,190 to W heeling; 24,986 to Cincinnati; and 15,180 to Louis­
ville. The total number of passengers carried on these steamers during the year, was
3,050,626. The total amount of marine insurance effected on the hulls and cargoes of
vessels, and the amount of insurance paid in the four districts was as follows:—
Total Ins.

Ins. paid.

P ittsb u rg ...........................................................................
W heeling...........................................................................
Cincinnati...........................................................................
Louisville...........................................................................

Districts.

$4,822,397
764,767
17,008,530
10,185,855

$30,434
1,989
257,428
147,585

T otal..........................................................

$32,811,440

98
03
48
17

$437,434 66

As a consequence of this increase, the number of steamboats destroyed in the course
of the year belonging to these four dislricts, was 44; of this number 19 were snagged
and 13 burned. The number of lives lost by these disasters was 482.
LARGE TU N N EL ON TH E PENNSYLVANIA RAILROAD.

One of the tunnels on the Pennsylvania Railroad now constructing, is to be 3,570
feet in length. Its area a t the widest space within the lines of the masonry will be
about twenty-four feet, and the spring of the areh will begin sixteen feet from the
crown of the arch. The arch itself of the tunnel will be rather of an oval form, one of
the most beautiful curvatures which conic sections can afford. The greater part of
the vast arched excavation will be inlaid with strong and substantial masonry.
More than half of this masonry will be composed of sandstone well laid in hydraulic
cem ent; and the remainder will be hard burnt brick. This whole masonry will be
twenty-two inches thick. The tunnel passes the Alleghany Mountain in Sugar Run
Gap, and lies partly in Blair and partly in Cambria County. Taking into account the
length of the tunnel and its interior breadth, and the quantity and solidity of its mason­
ry, it may be regarded as the largest work of the kind in the United States. About
four hundred men are employed upon it. The contractors who are accomplishing this
great work are S. R utter & Son; perhaps the most eminent tunnel contractors in the
country.




264

Mercantile Miscellanies.

M ERCANTILE M ISCELLANIES.
TH E OPIUM TRADE.

W e published in the numbers of the M e r c h a n ts ' M a g a z in e a n d C o m m e r c ia l R e v ie w
for Ju ly and August, 1850,* two papers under the title of “ T h e O p iu m T r a d e ; a s
c a r r ie d o n betw een I n d i a a n d C h in a , i n c l u d i n g a S k e t c h o f i t s H i s t o r y , E x t e n t , E f fe c ts ,
d ec.” which were prepared expressly for our Journal by Dr. N athan A l ie n , of Massa­
chusetts. Opium is, as is well known, a contraband article among the Chinese, and
the trade is prohibited under severe penalties. I t is, however, carried on by the E ast
India Company, under the direct sanction of the English G overnm ent; and is forced
upon the miserable and enslaved population. I t is estim ated th a t f o u r h u n d r e d th o u ­
s a n d h u m a n b e in g s i n th e C e le s tia l E m p i r e a r e s w e p t o f f a n n u a l l y b y t h i s p e r n i c i o u s

the consideration for which are some millions of dollars to the E ast India
Company.
The Bombay T e le g r a p h reviews the articles in the M e r c h a n ts ’ M a g a z in e , and fully
concurs in the views of our correspondent, Dr. A l l e n . The reviewer say s:—

p o is o n ,

A s an article of Commerce, opium stands out without a parallel. From the skillful
management and cultivation of about 100,000 acres of land, the East India Company
produce an article which, sold at a profit of several hundred per cent, yields to them a
net revenue of nearly three millions sterling. W e do not here include the Malwa
opium—a seventh of the whole revenue of the country, raised from an extent of m o r e
t h a n a m i l l i o n o f s q u a r e m ile s .

From the transport of this drug by a few vessels named opium clippers, a few m er­
cantile houses are also realizing magnificent profits, while the Chinese themselves, the
grand consumers of the drug, part with five or six million pounds sterling per annum.
The most astounding fact of the opium trade needs y e t to be specified, viz., that
Christian sensibilities have not y e t been adequately roused in relation to its iniquities
and horrors.
T hat a professedly Christian government should, by its sole authority, and on its sole
responsibility, produce a drug which is not only contraband, but essentially detrimental
to the best interests of hum anity; that it should annually receive into its treasury
scores of rupees, which, if they cannot, save by a too licentious figure, be term ed “ the
price of blood,” y et are demonstrably the price of the physcial waste, the social
wretchedness and moral destruction of the Chinese; and yet th at no sustained remon­
strances from the press secular or spiritual, nor from society, should issue forth against
the unrighteous system, is surely an astonishing fact in the history of our Christian
ethics.
A n A m e r i c a n , a c c u s to m e d to rec e iv e f r o m u s im p a s s io n e d a r g u m e n ts a g a i n s t h i s o w n
n a t i o n , o n a c c o u n t o f s la v e r y , m i g h t w e ll be p a r d o n e d w ere h e to s a y to u s , w ith so m e ­
w h a t o f in te m p e r a te f e e l i n g , “ P h y s i c i a n h e a l t h y s e l f ” and to expose with bitterness

the awful inconsistency of Britain’s vehement denunciation of American slavery, while,
by most deadly measures, furthering Chinese demoralization.
The review, in referring to the havoc of human life, closes as follows:—
W hat unparalleled destruction! The immolations of an Indian Juggurnauth dwindle
into insignificance before it! We again repeat, nothing but slavery is worthy to be
compared for its horrors with this monstrous system of iniquity. As we write, we are
amazed at the enormity of its unprincipledness, and the large extent of its destructive­
ness. Its very enormity seems in some measure to protect it. W ere it a minor evil,
it seems as though one might grapple with it. As it is, it is beyond the compass of
our grasp. No words are adequate to expose its evil, no fires of indignant feeling are
fierce enough to blast it.




M e r c h a n ts' M a g a zin e ,

vol. xxiii., pp. 28 and 146.

Mercantile Miscellanies.

265

The enormous w ealth it brings into our coffers is its only justification, the cheers of
vice-enslaved wretches its only welcome; the curses of all th at is moral and virtuous
in an empire of three hundred and sixty millions, attend its introduction; the prayers
of enlightened Christians deprecate its course; the indignation of all righteous minds is
its only “ God-speed.”
I t takes with it fire and sword, slaughter and d e a th ; it leaves behind it bankrupt
fortunes, idiotized minds, broken hearts and ruined souls. Foe to all the interests of
humanity, hostile to the scanty virtues of earth, and w arning against the overflowing
benevolence of heaven; m ay we soon have to rejoice over its abolition.

AMOS LAWRENCE, THE BENEVOLENT MERCHANT.
The C o m m o n w e a lth reports the following passage in Eulogy of A mos L a w r en c e ,
( a brother of the Hon. A bbot L a w r en c e , late minister to England,) from a Sermon on
“ The Means of Living and the Ends of Life,” preached a t the new Music Hall, in
Boston, January 2d, 1853, by the Rev. T h e o d o re P a r k er .
“ Only two days ago, there died, in this city, a man rich in money, but far more rich
in manhood. I suppose he had his faults, his deformities of character. Of course he
had. I t takes m any men to m ake up a complete man. Humanity is so wide and
deep th at all the world cannot drink it dry. He came here poor, from a little country
town. H e came with nothing—nothing but himself, I m ean ; and a man is not ap­
praised, only taxed. He came obscure; nobody knew Amos Lawrence forty five years
ago, nor cared whether the handkerchief in which he carried his wardrobe, trudging to
town, was little or large. H e acquired a large e state ; got it by industry, forecast,
prudence, thrift—honest industry, forecast, prudence, thrift. He earned what he got,
and a great deal more. H e was proud of his life; honorably proud that he made his
own fortune, and started with ‘ nothing but his hands.’ Sometimes he took gentlemen
to Groton, and showed them half a mile of stone wall which the boy Amos had laid on
the paternal homestead. That was something for a rich merchant to be proud of.
“ He knew w hat few men understand—when to stop accumulating. A t the age
when the summer of passion has grown cool, and the winter of ambition begius seri­
ously to set in, when avarice and love of power, of distinction, and of office, begin to
take hold of men, when the leaves of instinctive generosity fall, and the selfish bark
begins to tighten about the man—some twenty years ago, when he had acquired a
large estate, he said to himself—‘ E nough! No more accumulation of that sort to
make me a miser, and my children worse than misers.’ So he sought to use nobly
w hat he had manfully won. H e lived comfortably but discreetly. H e didn’t keep
‘ A brave old house at a bouutiful rate,
W ith half-a-score of servants to wait at the gate.’

“ His charity was greater than his estate. In the last twenty or thirty years he has
given away to the poor a larger fortune than he has left to his family. But he gave
with as much wisdom as generosity. His money lengthened his arm, because he had
a good heart in his bosom. H e looked up his old customers whom he had known in
his poor days—which were their rich ones—and helped them in their need. H e
sought the poor of this city, and gave them his gold, his attention, and the sympathy
of his honest heart. He prayed for the poor, but prayed gold. H e built churches—
not for his own sect alone, for he had piety without narrowness, and took religion in a
natural w ay, churches for Methodists, Baptists, Calvinists, Unitarians, for poor op­
pressed black men, fugitive slaves in Canada; nay, more, he helped them in their
flight. He helped colleges, gave them libraries, and philosophical apparatus. He
sought out young men of talents and character, but poor and struggling for education,
and made a long arm to each down to their need, sending parcels of books, pieces of
cloth to make a sailor’s jacket or cloak, or money to pay the term bills. H e lent
money when the loan was better than the gift. T hat bountiful hand was felt on the
shore of the Pacific. H e was his own executor and the trustee of his own charity
funds. H e didn’t leave it for his heirs to distribute his benevolence a t their cost. A t
his own cost he administered the benefactions of his testament. A t the end of a for­
tunate year, he once found thirty thousand dollars more than he had looked for as his
share of the annual profits. In a month he had invested it all—in various charities.
H e couldn’t eat his morsel alone—the good man.




t

266

Mercantile Miscellanies.

“ His benevolence came out also in smaller things, in his daily life. H e let the boys
cling on behind his carriage—grown men did so, but invisibly; he gave sleigh-rides to
boys and girls, and had a gentle word and kindly smile for all he met.
“ He coveted no distinction. He had no title, and wasn’t a ‘General,’ a ‘ Colonel,,
a ‘ Captain,’ or ‘Honorable,’—only plain ‘ Mister,’ ‘Esquire,’ and ‘Deacon, a t the
end.
“ His charity was as unostentatious as the dew in summer. Blessing the giver by
the motive, the receiver by the quicker life and greater growth, it made no noise in
falling to the ground. In Boston, which suspiciously scrutinizes righteousness with
the same eye which blinks at the most hideous profligacy, though as public as the
street—even the daily press never accused his charity of loving to be looked at.
“ Of good judgment, good common sense, careful, exact, methodical, diligent, he
was not a man of great intellect. He had no uncommon culture of the understanding
and the imagination, and of the highest reason still less. But in respect to the greater
faculties—in respect of conscience, affection, the religious element, he was w ell born,
well bred, eminently well disciplined by himself.
“ He was truly a religious man. I do not mean to say th a t he thought as Calvin or
Luther thought, or believed by Peter, Jam es or John. Perhaps he believed some
things which the Apostles never thought of, and rejected others which they all had in
reverence.
“ When I say he was a religious man, I mean th at he loved God and loved men.
He had no more doubt that God would receive him to heaven than th at he himself
would make all men happy if he could. Reverencing God, he reverenced the laws
of God— I mean the natural laws of morality, the laws of justice and of love. His
religion was not ascetic, but good-natured and of a cheerful countenance. His piety
became morality. The first rule that he took to his counting-house was the golden
rule, and he never laid it by—buying, and selling, and giving by that standard mea­
sure. So he traveled along, on that path which widens and brightens as it leads to
heaven.
“ Here was a man who knew the odds between the Means of Living and the ends of
Life. H e knew the true use of riches. They served as a m aterial basis for great
manly excellence. His ton of gold was a power to feed, to clothe, to house, and warm
and comfort needy m en ; a power to educate the mind, to cheer the affections, to bless
the soul. To many a poor boy, to many a sad mother, he gave a ‘m erry Christmas ’
on the earth, and now, in due time, God has taken him to celebrate Epiphany and New
Year’s day in Heaven 1”

SUICIDE OF A LONDON MERCHANT,

Mr. Leschallas, says an English journal, the paper maker, who for m any years has
carried on an extensive business as paper m aker and wholesale stationer, in Budge
Row, W atling-street, London, committed self-destruction on Monday morning, by
shooting himself through the head, in his warehouse in Sise-lane. During the last
nine months Mr. Leschallas, who was about fifty-seven years of age, has labored under
a delusion that his business was going to ruin and himself to poverty, whereas, in
fact, m atters were the reverse, for his affairs, recently gone into, exhibited a large
capital in reserve after all claims and liabilities had been cleared. It was stated that
he had £80,000 in stock, besides £50,000 in bills in hand; y et he was constantly com­
plaining of, and persisting in, his approaching insolvency. Twice or thrice during the
tim e specified he was thw arted in attem pting to. shoot himself. An inquest was held
by Mr. Payne, the coroner, and a verdict of temporary derangement returned.

PERUVIAN BARK.

La Cuscarilla, (Peruvian bark,) one of the most important products of Bolivia, pays
a duty of $10 per quintal to the government for the right of cutting. Notwithstanding
this duty, the exportation has been so great of late years, that the CoDgress passed a
law, some eighteen months ago, which took effect about a year since, prohibiting any
further cutting for five years.




The Book Trade.

267

THE BOOK TRADE.

1.

— T h e D e m o c r a c y o f C h r i s t i a n i t y , o r a n A n a l y s i s o f th e B i b l e a n d it s D o c tr in e s i n
th e i r r e la t io n to th e P r i n c i p l e o f D e m o c r a c y . By W m. G oodell . 2 vols., 12mo.,
pp. 348 and 523 New York : Cady & Burgess.

I t is no ordinary task to unfold the subject embraced in this title with the ability
of which it is worthy. In this work it is divided into four parts—the first of which,
beginning with the origin of mankind, follows down through the Old Testament, their
history, especially in the line of the Jewish race, pointing out the elements of Demo­
cracy, wherever they make their appearance. The Second part discusses the more
direct teachings of Christianity. In part Third, the Institutions of Christianity, with
their bearings upon the principle of Democracy, are more particularly examined ; and
in the Fourth part, the actual and prospective effects of Christianity are considered.
The ability of the work is unquestionable, and every page furnishes m aterial for re­
flection. It is the most systematic and complete examination of the subject which has
been published. Of course, it brings the author in contact with many mooted points
of Church Polity, which he has treated w ith much learning.
2. — T h e P i c t o r i a l F i e ld - B o o k o f th e R e v o l u t i o n ; or, Illustrations by Pen and Pencil
of the History, Biography, Scenery, Relics, and Traditions of the W ar of Independ­
ence. By B enson J. L ossing . W ith several hundred Engravings on Wood, by
L ossing and B a rr it t , chiefly from Original Sketches by the Author. Yol. 2, 8vo.,
pp. 880. New Y ork: H arper & Bros.
This volume completes the Field-Book of the Revolution. The labor of its prepar­
ation can hardly be appreciated with justice, unless one is familiar with the difficulty
of obtaining details of events after m any years have elapsed. I t is a work of great
value to Americans, not so much for anything new or striking in its contents, but as
being the treasure-house of all those minute incidents of the w ar which are hallowed
in the memory of the inhabitants among whom they occurred, and which have been
sedulously gathered by the author. Nor are the more important events of the Revo­
lution overlooked. These are narrated with the same fullness, though not dwelling
upon the principles involved in the contest, or the discussions which took place. In
short, the work possesses all that interest which attaches to the personal narratives of
the old soldiers of that war.
3. — T h e P r iv a te ] L i f e o f D a n i e l
Y o rk : H arper & Brothers.

W e b s te r .

By C has . L anman. 12mo., pp. 205. New

The author of these pages occupied the close relation of private secretary to the dis­
tinguished statesmen. H e has often been the guest of Mr. W ebster a t both his places
of residence, and been entertained as his intimate friend. Of course he has here a t­
tem pted to offer the public only those interesting particulars which the public have a
right to claim. All those incidents in the private life of an individual, which belong
to the retirem ent of home, he has, with due delicacy and discrimination, withheld.
The author is a man of talent and an able writer. There are marks of baste in his
pages and some evident misstatements, but apart from these, the book will be found
one of the most interesting and agreeable of the many volumes before the public.
4.

—M y L i f e a n d A c t s i n H u n g a r y i n
12mo., pp. 615. New York: H arper

t h e y e a r s 1848
& Brothers.

and 1849.

By A rth u r Goroki.

Gorgei, the reputed traitor of the Hungarian cause, states his own defense in these
pages. I t is, from beginning to end, a specimen of special pleading which does honor
neither to the head nor heart of its author. It contains nothing which will remove or
diminish the public sentiment of mankind on his conduct, or obtain for him any special
regard with honorable men.
11.— C h a m b e r s P o c k e t M is c e lla n y . Yol. 8.
coln. New York : Adriane & Sherman.




12mo., pp. 180.

Boston: Gould & Lin­

268

The Boole Trade.

6.— C o r n e liu s N e p o s .

W i t h N o te s E x p l a n a t o r y a n d H is to r ic a l. By C has . A nthon ,
LL. D. 12mo., pp. 396. New Y ork: H arper & Brothers.
Cornelius Nepos has justly obtained very extensive favor as a text book in schools.
I t is a very attractive book for young students, y et imperfect and inaccurate in many
of its historical and geographical details. These errors, however, have been carefully
corrected in this edition, which is embellished with the rich learning of Dr. Anthon,
and rendered suitable for a text book in any institution.
*1-— H i s t o r y o f R o m u l u s . By J acob A bbott.
New York: H arper & Brothers.

W ith E ngravings.

12mo., p p. 308.

The reputation of Abbott’s works is well known and established. This volume,
containing the life of the founder of the Homan Empire, is one of a series prepared by
the author to furnish the reading community with accurate and faithful accounts of the
lives and actions of personages of ancient times. The invention of the author is not
brought into exercise to add interest to his pages, but the charm consists in the ad­
mirable selection of incidents and facts in the lives of those of whom he writes.
8. — E l e m e n t s o f G e o lo g y. By M oses G ray, A. M., and C. B. A dams. 12mo., pp. 350.
New York: H arper & Brothers.
In this volume we have the outlines of American and European Geology in a con­
densed form. It is elementary in its character, and particularly designed for students
in Geology. W ith a view of rendering the subject attractive to the general reader,
the most important theories of the science are discussed, including its practical appli­
cations and relations to Natural Theology and Revelation. The illustrations have been
drawn from the whole field of geological phenomena.
9.

— C o r n e ille a n d h i s T im e s .
& Brothers.

By M. G uizot.

12mo., pp. 395.

New Y ork: H arper

This is an important production for a complete knowledge of French literature, es­
pecially that which embraces the poetry of Corneille and his times. I t is an able,
learned, and elegant criticism, valuable in this respect to all scholars, independent of
the particular subject of which it treats.
10. — B i a n c a . A T a le o f E r i n a n d I t a l y . By E dward M aturin , Esq. 12mo., pp.
395. New York: H arper and Brothers.
This is a descriptive tale of life in Ireland and Italy. I t is written with spirit and
vigor, and oftentimes displays more than usual power.
11. — L i f e o f S i r W a l t e r S c o tt. By D onald M cL eod. 12mo., pp. 298. New Y ork:
Charles Scribner.
An additional life of Sir W alter Scott might almost seem superfluous, but we have
in this a combination of the rich and varied materials furnished by Irving, Lock­
hart, and m any others. These sketches are very spirited and graphic, and will be
found very acceptable by those who are wearied with the voluminous correspondence
of Scott. We have a picture of Scott as he naturally appeared, which is setoff by
an admirable selection of the most striking and agreeable incidents of his career.
12. —F r a n k F r e e m a n 's B a r b e r S h o p . A Tale. By R ev . R aymond R . H all , D. D.
12mo., pp. 343. New Y o rk : Charles Scribner.
•
This is a tale brought out in the wake of Uncle Tom’s Cabin, presenting conservative
and moderate views. I t contains some striking scenes and stirring passages, and re ­
presents Southern life with much truthfulness and candor.
13. — N i g h t T h o u g h ts o n L i f e , D e a t h a n d I m m o r t a l i t y . By E dward Y oung, LL. D.
W ith a Memoir of the Author, a Critical View of his Writings, and Explanatory
Notes. By J. R. Boyd. 12mo., pp, 516.
14. — T h e P a r a d i s e L o s t. By J ohn M ilton . W ith Notes, Explanatory and Critical.
Edited by Jam es R. Boyd. 12mo., pp. 552. New York : A. S. Barnes <fc.Co.
This series of classic poetry has been prepared expressly for use in educational pur­
poses. The notes are very full and extensive, answering all points worthy of the a t­
tention of youth. We trust their adoption will become as extensive as their merits
may justly claim.




The Book Trade.
15. — O u tlin e s o f A s t r o n o m y .
By S ir
with Numerous Plates and Wood-cuts.
Lea.

J

269

F. W. H e r s c h e l . A New Edition,
12mo.
Philadelphia: Blanchard and

ohn

The outlines of this admirable work first appeared as a p art of the Cabinet Cyclo­
pedia in the year 1833. Since then it has been entirely remodeled, much new m atter
has been added, and some parts, especially that relating to the lunar and planetary
perturbations, have been entirely rewritten. I t is now very complete in its contents,
and m ay be regarded as “ up to the actual state of Astronomy.” The elements of the
four new planets have been added, and the improved elements of four others have
been substituted for the provisional ones given in former editions. The remarkable
discovery of an additional ring of Saturn, and the curious researches of M. Peters on
the proper motion of Sirius, with several minor features, are also noticed. The whole
drift and tenor of the work, it should be observed, is explanatory; and. as such, it be­
comes one of the best we now have on Astronomy.
16. — T h e

A n a l y t i c a l C h e m is t’s A s s i s t a n t : a M a n u a l o f C h e m ic a l A n a l y s i s . B o t h
Q u a lita tiv e a n d Q u a n tita tiv e o f N a t u r a l a n d A r t i f i c i a l I n o r g a n i c C o m p o u n d s ; to
w h ic h a r e A p p e n d e d t h e \R u le s fo r X D e te c tin g A r s e n i c i n c a se o f P o i s o n in g . By F r e d ­

e r ic k
W oehler.
Translated by
phia : Henry C. Baird.

O

sc a r

M.

L

e ib e r

.

12mo., pp. 314.

Philadel­

In this w ork we have an excellent treatise in a popular style, containing directions
for testing and analyzing the numerous inorganic compounds of nature and art. Such
a work has long been needed for popular use. In its present complete form it con­
tains in addition to the contents of the German Edition, descriptions of the more gen­
eral manipulations necessary in conducting chemical analyses, the modes of analyzing
many substances not included in the original, and the results themselves. The percent­
ages of ingredients sought is added, and many other valuable features which render
it truly a useful book.
17. —A

T r e a tis e o n S c r e w P r o p e lle r s a u d t h e i r S t e a m E n g i n e s , w ith P r a c t i c a l R u l e s
a n d E x a m p l e s h o w to C a lc u la te a n d C o n s tr u c t th e s a m e f o r a n y d e s c r ip tio n o f V e s ­
s e ls , a c c o m p a n ie d w i t h a T r e a tis e o n B o d i e s i n M o ti o n i n F l u i d , e x e m p lifie d f o r
P r o p e l l e r s a n d V e s s e ls ; a ls o a F u l l D e s c r i p t i o n o f a C a lc u la tin g M a c h in e . By J.

W.

N

a stro h

.

8

v o .,

pp. 232.

Philadelphia: H. C. Baird.

In this treatise will be found the results of several years’ experience and observation
on the part of the author. A principal object with him has been to obtain formulae to
follow the variations that arise in practice. Proper co-efficients have been introduced
to m ake the formulae simple and practical, where practice differs from theory. The
contents of the volume have been evidently prepared with much care and investi­
gation.
18. — T h e

R e a l P r e s e n c e o f th e B o d y a n d B l o o d o f o u r L o r d J e s u s C h r is t i n th e B le s s e d
E u c h a r i s t , p r o v e d f r o m S c r i p t u r e . I n E i g h t L e c tu r e s D e liv e r e d i n th e E n g l i s h
C o lle g e ,R o m e . By C a r d i n a l W i s e m a n . 12mo., pp. 311. B altim ore: J. Murphy
& Co.

This is not intended less for a controversial work, than to serve for the instruction
of those who are unacquainted with the grounds upon which the Roman Church rests
the belief in the doctrine of transubstantiation. This view of the question is stated
with much fullness, candor, sincerity, and elegance of diction. The w riter is neither
bigoted nor bitter, but nobly qualified for the position he holds in England. A ll those
who have been led by the bitterness of denominations to investigate Christian truths
for themselves, should read this eloquent statem ent of the Roman side in this funda­
mental article of controversy.
19. — A C a te c h is m o f S a c r e d H is to r y , Abridged for the Use of Schools. Translated
from the French. By A F r i e n d o e Y o u t h . 24mo., pp. 124. Baltimore: Murphy
& Co.
20— T h e C lo u d w ith th e S i l v e r L i n i n g . By the Author of “ A Trap to Catch a Sun­
beam,” etc. 18mo., pp. 70. Boston: Jam es Munro & Co.
A charming little story.




The Booh Trade.

270

21. — N a p o l e o n i n E x i l e ; o r, a V o ic e f r o m S t . H e le n a . The Opinions and Reflections
of Napoleon on the most Im portant Events in his Life and Government, in his own
words. By B a r r y O ’M e a r a . 2 vols., 12ino., pp. 328 and 332. New York: J. S.
Redfield.
This work has been before the public for some length of time, and has obtained the
reputation of being one of the most authentic and interesting records of the opinions
and reflections of Napoleon which has ever been published. The author wa9 medical
officer of the English Government a t St. Helena to the household of Napoleon. His
relations to the Emperor were of the most intimate and confidential character, and
his reports of conversations are given with great fidelity. Relating, as they do, to
public men and affairs in Europe, they possess a genuine interest, to all readers.
22. — S o n g s o f th e S e a s o n s , a n d o th e r P o e m s . By J a m e s L i n e n . 12mo., pp. 167.
New Y ork: Redfield.
The author of these pages is an occasional contributor to the Magazines, whose
poems have been very extensively copied in the papers. The generosity of subscrib­
ing friends has enabled the author to bring out his volume without any solicitude of a
pecuniary character. H e says, “ with critics 1 have nothing to do.” In conformity
with this assertion we therefore forbear to express any opinion on the merits of the
poems.
23. — W o o d w o r th ’s A m e r i c a n M is c e l la n y o f E n t e r t a i n i n g K n o w le d g e . By F r a n c i s C.
W oodw orth , author of “ Stories about Animals,” “ Uncle Frank’s Home Stories,”
etc., etc. 12mo., pp. 288. Boston: Phillips, Sampson & Oo.
The plan of this work, the first volume of which is before us, is similar to th at oj
“ Chambers’ Miscellany,” which has had such an immense sale in England and the
United States. Each volume, complete in itself, is illustrated with numerous cuts.
The series is to consist of ten volumes, issued a t irregular intervals until their com­
pletion. It is well adapted to the family circle, and although free from sectarianism,
will prove a most valuable addition to Sunday School Libraries.
24. — T h e T e l l - T a l e ; o r , H o m e S e c r e ts . T o l d b y O ld T r a v e le r . By T susta , A uthor of
“ Sunny Side,” “ Peep a t Number Five,” Ac. Boston : Phillips, Sampson A Co.
A m ost interesting and instructive volum e for th e young, w hich maDy children of a
“ larg er g ro w th ” w ill read w ith delight. T he recent d eath of th e authoress lends a
m elancholy charm to the narrative.

25. — H i n t s

By H o r ­
Second Edition, enlarged. W ith the Crystal Palace and its Lessons.
12mo., pp. 425. New York : Fowlers & Wells.
I t is gratifying to learn that a second edition of this instructive and pleasant volume
has already been called for. I t is a ju st acknowledgment of the talents and merits of
the author. This edition contains, in addition to former ones, an appendix, in which is
included an interesting article on the Crystal Palace and its results.
ace

G

to w a rd s R e fo r m e r s , i n L e c tu r e s , A d d r e s s e s , a n d o th e r W r i t i n g s .

reeley

.

26. — T h e S c ie n tific A m e r i c a n . New York : Munn & Go.
The eighth volume of this truly valuable work is now in course of publication, and
we cannot do our young men better service, especially if engaged in mechanical
or artistic pursuits, than in recommending them to subscribe for it. As a journal of
the A rts and Sciences, it ranks high in our periodical literature, being devoted to the
diffusion of sound practical knowledge upon the subjects of which it treats. Manufac­
turers and Agriculturists will find much valuable m atter relating to their important
branches of the national industry.
27. — D i s t u r n e l l ’s

R a i l r o a d , S te a m b o a t, a n d T e le g r a p h B o o l e ; b e in g a G u id e th r o u g h
th e U n ite d S t a te s a n d C a n a d a . New Y ork: J . Disturnell.

One of the most important features in this valuable little manual is the information
it embodies in relation to the telegraphic system, now so extensively in use in the
United States. It is, we believe, the only work now published th at contains full and
accurate information on that subject.
28. — Waverley Novels. Vols. 8, 9, and 10. H art’s Cheap Edition.
Monastery, The Abbott. Philadelphia: A. H a rt




Ivanhoe, The

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271

29. — S l a v e r y and A n t i - S l a v e r y : a H i s t o r y

o f th e G r e a t S tr u g g le in b o th H e m is p h e r e s ,
w ith a V ie w o f th e S la v e r y Q u e s tio n i n th e U n ite d S ta te s . By W il l ia m G o odell ,

author of the “ Democracy of Christianity.”
Harned.

12mo. pp. 602. New Y ork: William

The design of this work, as stated by the author, is to furnish, in one volume, an
abstract for convenient reference, a great mass of historical loformation concerning
slavery—in this country and Great Britain—information that is now to be found only
by looking over a vast number of volumes or pamphlets, and the newspapers and
scattered documents of the last twenty years. The work is evidently compiled with
much labor and car-', and aside from the anti-slavery views of the author it contains,
will, we doubt not, interest men of every shade of opinion, on a subject which has
caused a good deal bitterness of feeling.
— V illa g e L i f e i n E g y p t : w i t h S k e t c h e s o f th e S a id . By B atlk S t . J ohn . 2 vols.
12mo., pp. 216 & 224. Boston : Ticknor, Reed, <fc Fields.
In an attem pt to describe the life of the country population of Egypt, the author
has found, to some extent, a new field. The writings of travelers generally, present
us with few glimpses of the real character and condition of these people. Here we
have, therefore, both novelty and instruction. The condition, the unvaried degredation
of the mass of one of the most ancient nations, from the earliest period to the present
day, furnishes a subject of profound interest. The sensitive reader will follow the
path of this author with more than ordinary attention, and will find his pages varied
with pleasing pictures and sad associations.
30.

81.— T h e

W h i t e B u f f a l o . By Captain
W ith Illustrations, by W i l l i a m H a e v e v . 16mo., p p . 364. Boston:
Ticknor, Reed & Fields.
Here is a volume written expressly for boys. I t deals in those physical, rather
than moral facts, which are certain to arrest their attention. I t is wrought out of
truthful materials, and written with much spirit and simplicity. I t can hardly fail of
a warm welcome among young readers.
M

avne

B o y H u n te r s ; o r, A d v e n tu r e s i n S e a rc h o f a

R

e id

,

32. — T h e M a r t y r s , H e ro e s, a n d B a r d s o f th e S c o ttis h C o v e n a n t. By
l a n , M. A.
12mo., pp. 264. New Y ork: Robert Carter & Brothers.

G

eorge

G

il f il

-

The purpose of this volume is to present a succinct and im partial account of the
history of the Scottish Covenant, an unbiased estimate of the character of its princi­
pal actors, and some general deductions applicable to the great question of the pres­
ent day. The author is a powerful and eloquent writer, at time3 egotistical and vain,
but nevertheless entitled to high consideration. His materials have been gathered
from the best sources to be found and his woik possesses a substantial value.
L i v e s o f th e F a t h e r s o f th e E a s t e r n D e s e r t s : o r th e W o n d e r s o f G o d in
th e W ild e r n e s s . To which is added an appendix. 16mo., pp. 609. New Y o rk : D. &
J. Sadlier & Co.

33. — T h e

In the biographies of these ancient Saints, the reader will find most interesting
records of the lives of men who have become illustrious by their eminent virtues. I t
is one of the richest treasures which the Catholic Church possesses; neither can it be
devoid of value to men of every faith, as exemplifying the attainments in excellence
of which our nature is capable. The volume is printed on good paper in clear and
distinct type, and very handsomely bound.
34. — T h e

A r t - J o u r n a l f o r N o v e m b e r a n d D e c e m b e r.

New Y ork: George Virtue.

These numbers open with a fine engraving of the “ Farm Yard,” from a picture in
the Vernon Gallery. Then follow:—“ The Council of Horses,” “ The Installation,”
“ Florimel and the Witch,” “ Ruins in Italy,” all of which are engraved from pictures
in the Vernon Gallery. The contents, as usual, are replete with information relative
to the Fine Arts, interspersed with a large number of striking cuts. This is, in truth,
the most valuable journal of a rt before the public.
35. — T h e P r e t t y P l a t e . By J ohn V incent , Esq.
110. New Y o rk : Redfield.
A very pretty book.




Illustrated by Darley.

18mo, pp.

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272

36.
&

— T h e E x p e rie n c e o f L if e .

By E. M. S ew al l .

12 mo.

New Y o rk : D. Apppleton

Co.

This is another of those attractive and excellent tales from the pen of a highly ac­
complished author. The interest of the story as such, is well m aintained; and the
admirable reflections and thoughts respecting life and its lessons, possess a degree of
value both from their truthfulness and their genuine Christian character.
37.— W a v e r le y N o v e ls .
Parker.

Boston: B. B. Mussey & Co. and S. H.

L ib r a r y E d itio n .

This beautiful edition of the unrivaled works of the great novelist, now in course of
publication, has reached its twenty-second volume. The printing, binding, and paper
are excellent, and altogether it is one of the most desirable editions of the day.
38 .— T h e L u c k o f B a r r y L y n d o n . A R o m a n c e o f th e L a s t C e n t u r y . By W i l l i a m
M. T h a c k e r a y . 2 vols., 12mo., pp. 267 and 271. New Y ork: D. Appleton & Co.
One of the latest numbers of Appleton’s Popular Library contains this very agree­
able work, from the pen of Thackeray. I t originally appeared in F r a z e r ’s M a g a z in e
as far back as in 1844.
39. — E

l In g e n io s o H id a lg o L o n Q u ix o te de l a M a n c h a .
y A n o t a d a . P ar Don E u g e n i o d e O c h o a . 12mo., pp.
pleton & Co.

N e u v a E d i c i o n , C o r r e g id a

695.

New Y ork: D. A p­

Students of the Spanish language and Spanish literature are certainly under obli­
gations to these publishers for this excellent copy of the choicest edition of Don
Quixote which has been issued in Madrid, Its accuracy, typographical, and general
appearance are excellent.
'
40. — T h e

T e m p e r a n c e R e f o r m a t i o n . I t s H i s t o r y f r o m th e O r g a n i z a tio n o f th e F i r s t
T e m p e r a n c e S o c ie ty to th e A d o p t i o n o f th e L i q u o r L a w o f M a i n e , 1851, a n d th e
C o n s e q u e n t I n fl u e n c e o f th e F r o m u l g a t i o n o f t h a t L a w o n th e P o l i t i c a l I n te r e s t o f
th e S t a t e o f N e w Y o r k , 1852.
By Rev. L ebbeas A rm strong . 12mo., pp. 397.
New York: Bowlers & Wells.

These reminiscences contain a great variety of m atter instructive and agreeable to
all interested in the great temperance reform.
4 1. —H is to r y
S

chuyler

H

U n ite d S t a te s o f A m e r i c a . By Captain
Philadelphia: Lippincott, Grambo & Co.

o f th e N a t i o n a l F l a g o f th e

a m il t o n

12mo., pp. 116.

.

No full account of the origin and meaning of the devices of the “ star-spangled
banner ” has ever before, we believe, been published. Forbroke, in his L i c t i o n a r y o f ■
A n t i q u i t i e s , furnishes the most information on the subject of standards generally. An
outline of his treatise is contained in these pages. The additional historical details,
relating particularly to the American flag, are carefully collected and full of interest.
42. — L a y - L r e a m s .
Grambo & Co.

By

M

artha

A

llen

.

12mo., pp. 154.

Philadelphia: Lippincott,

Thoughts, fancies, and dreams, w ritten in a pleasant style, and with considerable
geniality of sentiment.
43. — T h e S e a s o n s . By J a m e s T h o m s o n . W ith Critical Observations o f various A u­
thors on his Character, and Notes, Explanatory and Critical. By Jam es R. Boyd.
1 2 mo., pp. 331. A. S. Barnes & Co.
44. — W a v e r le y N o v e ls . A b b o t s f o r d E d i t i o n . Yol. 9, p art 18. The Betrothed—The
Talisman. 12mo, pp. 300. Philadelphia: Lippincott, Grambo & Co.
45. — T a l l i s ’ S c r i p t u r e
<&Co.

N a t u r a l H i s t o r y f o r Y o u th .

P art 17. New York: J. Tallis

A complete little work on N atural History, embracing every species mentioned in
the Bible, and illustrated with numerous beautiful cuts.
46.

— H e s te r S o m e r s e t.




A

N o v e l.

By N. M.

8vo., pp. 181.

Philadelphia: A. Hart.