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TIIE

MERCHANTS’ MAGAZINE,

AND

commercial lUOttm.

CONDUCTED BY FREEMAN HUNT.

PUBLISHED A T 142 FULTON-STREET, (REAR BUILDING.)




M D C C C X L .,




3'SO
JRc^T2rU

INDEX

ORIGINAL PAPERS.

Page.
Mercantile Character— Lecture before the Mercantile Library Association in NewYork and Philadelphia, by Hon. John Sergeant.....................................................
9
T he Progress o f the Northwest, by James H. Lanman, Esq........................................ 22
Usury Laws, No. I., by James M. Whiton, Esq.............................................................. 40
Usury Laws, No. II., by James M. Whiton, Esq............................................................ 115
Evils o f C om m erce............................................................................................................... 76
Causes o f the Unsteadiness o f the Currency, and the Remedy therefor, by Henry
C. Carey, Esq.— O f the Means o f Exchange— France, Great Britain, and the
United S tates........................................................................... ............................. 47
O f the Currencies o f France, Great Britain, and the United S ta tes................ 122
Restrictions upon the Trade in Money— France, Great Britain, and the United
S ta te s...................................................................................................................... 126
O f the Economical and Moral Effects o f the Banking Systems of France,
Great Britain, and the United States............................................................... 311
Remedy for Unsteadiness o f the C urrency.............................................................. 482
Discovery o f the Northwest Passage, by the author o f Tales o f the Northwest,
Polar Regions, & c .......................................................................................................... 52
Our Trade with the Imaum o f Muscat— Commerce andProducts o f A ra b ia ........... 61
Laws relative to Debtor and Creditor, No. IV.— New Hampshire— by Jacob B.
Moore, Esq...................................................................................................................... 63
Laws relative to Debtor and Creditor, No. V.— Connecticut— by James H. Lan­
man, Esq.......................................................................................................................... 132
Laws relative to Debtor and Creditor, No. V I.— V erm on t............................................ 333
T he South Sea Bubble, by E. W . Stoughton, Esq........................................................... 97
T he Leather Manufacture, by Mr. Chas. M. Leupp....................................................... 141
T he Law o f Salvage, by Hon. W m . Marvin, U. S. Judge at Key W est,Florida ... 153
Agriculture, Commerce, and Manufactures .................................................................... 160
T he American Fur Trade, by James H . Lanman, Esq.................................................. 185
Governmental History o f the United States, from the earliest settlement to the
adoption o f the Constitution— Part 1st, Part 2d, and Part 3d— by Henry Sher­
man, Esq.........................................................................................................204, 399, 493
Lake Navigation o f North America, by David Stevenson, Esq.................................. 216
Speculations on Commerce, by William W . Wheildon, Esq.......................................... 237
T he Merchant Service— Primary Schools.......................................................................... 241
Railroads o f the United States, by James II. Lanman, Esq......................................... 273
Atlantic Steam Navigation, by Jacob B. Moore, Esq.................................................... 296
On High and L ow Prices, No. I., by Richard Hildreth, Esq., author o f “ Banks, Bank­
ing, and Paper Currency” ............................................................................... .......... 305
T he American W hale Fishery, by James H. Lanman, Esq.......................................... 361
Connection o f Learning with Commerce, by Alden Bradford, Esq............................. 394
T he Banking System o f Massachusetts, by James B. Congdon, Esq.......................... 411
T he American Institute....................................................................................................... 418
T he Jettison o f Goods carried on Deck, by the Hon. Willard Phillips........................ 432
Commerce o f China ...................
465
Commercial Value o f G em s.........................
504
Browne’s Banking and Mercantile Tables— Usury L a w s ............................................. 516




MERCANTILE BIOGRAPHY.

Stephen Theodore Jansen, Lord Mayor o f London.........................................................
William Roscoe, by H. T . Tuckerman, Esq.....................................................................
Thomas Eddy, by Mr. James C. W atts............................................................................
John Hancock, by Mr. G. M ountfort................................................................................

148
319
424
520

MERCANTILE LA W REPORTS AND DECISIONS.

Insurance— General A verage...............................................................................................
Bills o f E xchange...................................................................
Assignment— Legal Decision in Missouri..........................................................................
Customhouse B on d s.....................................................................................
Receiver o f Goods..................................................................................................................
A ction o f Trover....................................................................................................................
Replevin— Important D e cisio n ...........................................................................................
Imprisonment for Debt— Decision in Louisiana .............................................................
T ariff—Forfeiture o f Goods ..............................................................
T he Tariff—Forfeiture o f Goods .......................................................................................
Bills o f Exchange— Importance o f Uniformity o f Commercial L a w ........................
Commission Merchants ........................................................................................................
A ction o f Trover.....................................................................................................................
Bank Checks..........................................................................................................................

68
69
70
72
73
74
75
527
528
529
530
531

BOOK TRADE.

Course o f Reading recommended to the Mercantile Library Association, by Chan­
cellor K e n t......................................................................................................................
Lanman’s History o f Michigan...........................................................................................
Tanner’s Description o f the Canals and Railroads o f the United States ..................
Titler’s Universal History ....................................................................................................
Lossing’s Outline History o f the Fine Arts......................................................................
Foster’s Concise Treatise on B ookkeeping.......................................................................
France— Its King, Court, and Government ....................................................................
Chandler’s Law Reporter.....................................................................................................
German Literature................................................................................................................
Taylor’s Treatise on the Law o f Landlord and Tenant ..............................................
Bigelow’s Useful Arts............................................................................................................
Life and Travels o f Mungo Park........................................................................................
Johnson’s Analytical Abridgment o f Kent’s Commentaries on American Law .......
Macauley’s Critical and Miscellaneous E ssa ys...............................................................
Murray’ s Historical and Descriptive A ccount o f British Am erica..............................
Greenwood’s Duncan’s Sacred Philosophy o f the Seasons.............................................
Annual Report o f the Seaman’s Aid Society o f Boston.................................................
Guizot’s Character and Influence o f Washington in the Revolution..........................
Hayward’s Goethe’s Faust...................................................................................................
Hammond’s Treatise on the Law o f Fire Insurance, & c ..............................................
De Tocqueville’s Democracy in America, Part 2 ............................................................
American Almanac and Repository o f Useful Knowledge for 1841............................
Nichols’ View o f the Architecture o f the Heavens..........................................................
Lieber’s Manual o f Political Ethics....................................................................................
Taylor’s Flag Ship, or Voyage round the W orld in the U. S. Frigate C olum bia....
Parry’s Voyages for the Discovery o f the Northwest Passage.......................................
Dana’s T w o Years before the Mast....................................................................................
Fosdick’s Introduction to the French Language.............................................................
Vethake’s M cCulloch’s Commercial Dictionary..............................................................
Raguet’s Treatise on Currency and Banking...................................................................
Grindrod’s Prize Essay on Intemperance, & c ..................................................................
Carter’s Edition o f Chalmer’s W orks...................................................................................
Hayward’s New England Gazetteer...................................................................................
Keightly’s Histories o f Greece, Rome, and England......................................................
Around the W orld.................................................................................................................
Walker’s Beauty Illustrated................................................................................................
W alker’s (Mrs.) Female Beauty..........................................................................................




80
162
163
163
164
164
164
246
247
248
249
249
337
336
338
338
339
339
340
441
443
443
444
444
445
445
446
446
531
532
533
534
535
536
537
538
538

Index .

v

STATISTICS OF INSURANCE.

Rates o f Premiums, with conditions, adopted by the Boston Marine Insurance
Companies, 1840 .................................................................................................... 81,
Risk between the United States and W est Indies..................................................
From Russia and Ports in the Baltic to the United States....................................
From Cuba to Europe and back to Cuba.................................................................
Risk on Time on Vessels o f two hundred tons and upwards................................
Coastwise risk within the United States...................................................................
South America to Europe............................................................................................
South America to the United States...........................................................................
United States to South America................................................................................
United States, India, China, and the Pacific Ocean...............................................
United States and Europe— Outward risks...............................................................
T o Ports in the Gulf o f Mexico— Homeward risks..................................................
T o Ports Northeastward o f Cape Florida..................................................................
General Regulations......................................................................................................
Marine Insurance— Convention in N ew Y o rk .................................................................

165
81
82
82
83
84
165
165
165
166
168
168
168
169
170

COMMERCIAL STATISTICS.

Commerce o f Louisiana, from 1804 to 1838.....................................................................
Canal Commerce at Buffalo.................................................................................................
Compendium o f the American W hale Fishery..................................................................
Statistics o f the Fur Trade...................................................................................................
Imports and Exports o f the United States for the year 1839........................................
Amount o f Specie imported into the United States from different countries, from
1821 to 1838...................................................................................................................
China Trade— Value o f Exports— Tonnage employed, & c ..........................................
Commerce o f Boston for the last twenty years.................................................................
Trade, Commerce, and Navigation o f Cuba.....................................................................
Importation and Exportation o f Cuba for 1839, compared with 1838................
Importations and Exportations in ships o f different Nations ..............................
Number o f Vessels entered and sailed from different Ports in Cuba in 1839.....
Imports and Exports from different Ports in Cuba in 1839....................................
Tonnage arrived at and cleared from different Ports in Cuba in 1839................
Import and Export Duty for Cuba in 1839 ..............................................................
Imports and Exports o f the Precious Metals for 1839...........................................
Annual Exports o f the Agricultural, Manufacturing, Lumbering, and Fishing in­
terests o f the United States for ten years, from 1828 to 1838, and the Bank
Profits for the same time .............................................................................................
Trade between England and France..................................................................................
T he Anthracite Coal Trade o f Pennsylvania...................................................................
Canal Tolls o f New Y ork.....................................................................................................
Commerce and Navigation o f the United States.............................................................
Value o f Imports from and Exports to each Foreign Country for the year ending
September, 1839.........................................................................................................
Tonnage o f American and Foreign Vessels arriving from and departing to
each Foreign Country for the year ending September, 1839.............................
Liquors imported into the United States in the last six commercial years........
Exports o f the Produce and Manufactures o f the United States for the year
ending September, 1839...........................................................................................
T obacco Trade o f Virginia...........................................................................................
Number, Tonnage, Crews, and national Character o f Foreign Vessels that en­
tered and cleared from the United States during the year ending Septem­
ber, 1839.................................................
Tonnage o f the several States and Territories, year ending September, 1839...
Tonnage o f the Six largest Districts .......................................................................
Imports and Exports o f each State, for the year ending September, 1839........
Cotton Goods printed in the U. States, number o f Factories, Yards, and Value............
Commerce o f New O rlean s.................................................................................................
Table 1. Exports o f Cotton from New Orleans for the last ten years................
“
2. Exports o f T obacco from New Orleans for the last ten years.............
“
3. Exports o f Sugar from New Orleans for the last five years.................
“
4. Exports o f Molasses from Nevy Orleans for the last five years............




171
171
172
252
265
265
266
267
351
351
352
352
353
353
353
354

354
354
355
355
447
447
448
449
450
451

452
452
452
452
452
452
454
455
456
456

Commerce o f Great Britain with the W orld......................... ........................................... 554
Exports, of the Precious Metals....................................... .................................................... 554
British Trade with Buenos A yres................ ...................................................................... 555
British Produce and Manufactures imported into the States o f the Rio de la Plata. 555
Cotton Crop o f the United States, 1840........................................................................... 555
Total Amount of the Growth, Export, Consumption, & c . . , ................................. 555
Export o f Cotton to Foreign Ports........................................................ ..................... 557
Growth o f Cotton from 1824 to 1840......................................................................... 557
Consumption....................................................................................................................557
Number o f Arrivals and Clearances from the Port o f N ew York for Oct. 1840......... 558
Importation o f Silk into the U. S. during the year ending 30th Sept. 1839................ 560
BANK STATISTICS.

Bank o f England..................................................................................................................... 88
Bank o f F rance....................................................................................................................... 89
Bank o f England Returns— Circulation o f the Bank o f England at different dates
between October, 1833, and April, 1840.................. ............................................... 261
Condition o f the Banks o f Rhode Island, July 6, 1840................................................... 262
Statement o f Banks in the United States, from 1834 to 1840...................................... 263
Table o f Bank Suspensions o f the States in 1839............................................................ 457
Paris Savings Banks........................
457
Increase o f Banking in the United States from 1820 to 1830, and from 1830 to
1837......................................................................................................... ; ....................... 458
Bank o f England, quarterly average o f the weekly liabilities and assets, from 23d
June to 17th September, 1840.................................................................................... 458
Deposits o f the London Bankers in the Bank o f England, first fourteen weeks in the
years 1838, 1839, and 1840 ......................................................................................... 458
Deposits o f the Bank o f Ireland and Royal Bank o f Scotland, for the first fourteen
weeks in the years 1838, 1839, and 1840 ............................................................. . 458
Philadelphia Bank Dividends.............................................................................................. 552
Bank o f France............................... ..................................................................................... 552
Bank o f England........................................
552
Deposits o f the London Bankers, Bank o f Ireland, and Royal Bank of Scotland, in
the Bank o f England in the years 1838 and 1839................................................... 553
STATISTICS OF COINAGE.

English Coinage— Mint in London, from 1816 to 1836................................................. 85
Mint value o f Foreign Coins, usually deposited for coinage at the Mint o f the United States.........................................................
86
Coinage o f the United States.......... .................................................................................... 87
Precious Metals.....................
87
United States Mint and Branches— Deposits and Coinage o f U. S. Mint and
Branches, from January 1 to June 30, 1840............................................................. 349
Coinage o f England.............................................................................................................. 349
MONEY TABLES.

Table to reduce Francs and Centimes to Dollars andCents.......................................... 264
Table to reduce British Sterling into Dollars and Cents.................................................. 264
Table to reduce Sterling into Dollars and Cents............................................................. 264
COMMERCIAL REGULATIONS AND TREATIES.

Guide to Owners and Captains o f Vessels bound to the Brazilian Ports.....................
Quarantine regulations at Cadiz,.........................................................................................
T o Merchants and Shipmasters— Regulations o f the Republic of Venezuela.............
Portugal Port Regulations....................................................................................................
Regulations o f the Russian Government...........................................................................
Treaty o f Commerce and Navigation between the Emperor of Austria and the Uni­
ted States.......................................
Regulations relating to W hale Ships at California................................................ .........
Regulations o f Trade at New Orleans..............................................................................
T ariff charges adopted by the N ew Orleans Chamber o f Commerce..................
T ariff applicable to Foreign, Northern, and Western business.............................
Rates applicable to European and other Foreign business.....................................




270
272
356
356
357
459
461
541
541
541
541.

Index.

vii

Rates applicable to Western and other Foreign business...................................... 541
A gency for Steamboats............................................................................*................... 542
Rates o f receiving and forwarding Goods........................................................... .
542
Rates o f Storage per m on th .................................................................................. . 542
Freights....................................................................................................... . ................ ... 543
Rates o f the N ew Orleans Towboats.................................................................... .
543
Rates o f Fare for Passengers.............................................. ......................................... 545
Duties and Port Charges at Rio Janeiro................................................................... 545
Commercial Regulations at Brazil.................................................................................547
Hanseatic Commercial Regulation............................................
547
NAUTICAL INTELLIGENCE— NAVIGATION.

T he Antarctic C ircle....................................................... . ................ ....................... .........
Trial Rocks in the Indian Ocean.............. ................ ........................................................
Brinsmaid’s Island...................................................................................................
Invention to prevent Ships rolling at Sea........................................................ .................
Tybee Lights...........................v.l,........................................................ ..................................
Beacon on the W olf R ocks....................................... ....................... ................. .................
Floating Dry D ock................................................................................................................
Mariner’s Compass............. .............. ..— .......................................................................
Boston Telegraph Observatory— Vessels reported from 1824 to 18 40........................
Important to Ship-owners— Iron kentledge..................... ...............................................
A dvice to Shipmasters.........................................................
Lighthouses in France.............................
N ew Lighthouse on Petit T e rre.........................................................................................
Light at the entrance o f the Avon Bristol Channel........................................................
Note on the Winds, as influencing the courses sailed by Bermuda Vessels................
Rocks near the Azores............................................................................................................
N ew Seaports in Massachusetts...........................................................................................
Lighthouses on the Coast o f France...................................................................................
Rocks discovered near Scatari Island.................................................................................
Partridge Island Lighthouse.........................................................
Steam Navigation o f Lake Erie................................................. ........................................

250
250
250
251
251
251
251
357
358
358
358
358
359
359
546
548
549
550
550
550
551

MERCANTILE MISCELLANIES.

Trade o f Boston in 1767-8............... ................................................................. ................ 182
Gillott’s Patent Steel Pens............................... .................................................................. 183
The W ool Trade o f Great Britain...................................................................................... 183
Trade o f Havana..................................................................................................................... 183
W o o l....................................................................................................
Launch o f an Iron Ship................................................ ....................................................... 184
The French Sugar Bill........................................................................................................... 184
The Sponge F ishery............................................................................................................... 184
Mode o f detecting adulteration in Flour.............................................................................. 359
Leech Trade.............................................................................................................................. 359
Sugar Refinery at St. Louis, Missouri........................................................
Texas T ra de............................................................................................
Book T ra d e.......................................................................................... -................................. 360
Fair o f N ovogorod................................................................................................................... 360
T he W oolsack.......... ............................................................................................................... 360
Importation o f Sperm Whale Oil into the United States, September, 1840................ 462
American Fur C om pany....................................................................................................... 462
Unite Care with D iligence..................................................................................................... 423
Overtrading.....................................................................................................-....................... 431 •
Mode o f conducting Business on the Paris Bourse......................................................... 537
Artificial Preparation o f Sugar.............................................................................................. 539
Explanation o f British Stock Exchange Term s................................................................ 540
Shopkeepers o f Bagdat........................................................................................................... 540
W ine from Rhubarb................................................................................................................. 540
Egyptian W ines......................................................................... ............................... •.......... 540
MERCANTILE LIBRARY ASSOCIATIONS.

Mercantile Library Association Correspondence................................................................




95

18

360
360

Donations to the Mercantile Library Association, New Y ork......................................
Baltimore Mercantile Library Association............ ..........................................................
Course o f Lectures for 1840 and ’41..................................................................................
Donations to the Mercantile Library Association...........................................................
The New York Mercantile Library Association Lectures.............................................
Boston Mercantile Library Association— Annual Election o f Officers, & c ................

9G
96
463
463
560
560

COMMERCIAL TABLES.

Pro-Forma A ccount o f Coffee from N ew Y ork to Havre.............................................. 341
Do.
do.
do.
do.
Antwerp............................................ 342
D o.
do.
do.
do.
London.............................................. 342
Do.
do.
do.
do.
Hamburg........................................... 342
Tables illustrating the above Pro-Forma accoun ts.................................................344, 346
Remarks on the foregoing Tables................................................... v ................................. 346
Questions for Accountants, by Thomas Jones, Esq........................................................ 347
Cost o f Cotton Goods, laid down in Liverpool, from New Orleans, Mobile, & c. at
rates o f Exchange, Freight, & c ................................................................................. 348
Pro-Forma A ccount o f a shipment o f Rice from Charleston to Havre........................ 267
Do.
do.
do.
do.
do.
to Antwerp, with T a­
bles
.268, 269
Bills on Hamburg as Remittance to London..................................................................... 559
Comparative price o f Cotton, T obacco, Sugar, & c., at New Orleans, from 1836 to
1840.................................................................................................................................. 560
STATISTICS OF AGRICULTURE.

Produce o f British Agriculture............................................................................................ 350
UNITED STATES TARIFF.

T ariff o f Duties for 1840.......................................................................................................
Allowances made by Law for Drafts on Articles subject to Duty...............................
Imports and Exports under each Tariff............................................................................
Imports and Exports under each T ariff from 1816 to 1838...........................................
Terms o f Credit......................................................................................................................

253
259
260
260
260

Our Second Y ear.......................................................: .......................................................... 96
T o Subscribers........................................................................................................................ 272