Full text of The Merchants' Magazine and Commercial Review : July 1860, Vol. XLIII, No. I

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H U N T ’S

MERCHANTS’ MAGAZINE.
Established J u ly, 1839, by Freeman IIIIlit.

VOLUME XLIII.

CONTENTS

JULY,

OF

1860.

NO. I., V O L .

NUMBER I.

XLIII.

ARTICLES.
A rt.

I.

p a g e

REVIEW , HISTORICAL AND CRITIC AL, OF THE D IFFE R E N T SYSTEMS OF
SOCIAL PHILOSOPHY; OR, INTRODUCTION TO A MORE COMPREHENSIVE
SYSTEM. P a r t v i i . A Historical Glance at the Career o f the Arabians during the
period o f their greatest Enlightenment—Their Contributions to General Science brief­
ly noticed—Five General Observations suggested bv their Distinguished Career as
Leaders of Civilization—Mohammedanism and the Iaeas it Embodies, that are o f im­
portance as Principles in Sociology Incidentally Considered—Some General Remarks
on the Condition of the Mohammedan Nations Incidentally Made..................................... 19

II. V ALU ATION OF L IFE INSURANCE PO LICIES. B y Prof. C. F. McCay, o f Georgia
III. B R A ZIL : ITS TR AD E A N D FIN A N C E S ..............................................................................

43
50

IV . J A P A N : ITS RESOURCES, TR AD E, AND CURRENCY. Arrival o f Ambassadors—
Course of Modern Trade—Situation of Japan—Size—Population—Divisions—Surface o f
the Country—Agriculture—Productions —Minerals—Manufactures—Large Capital—Itsigoya—Inland Commerce—Discovery—Dutch Intrigues—British Attempts—Ameri­
can Mission—Perry’s Arrival—Treaties—English Treaties—Lord Elgin—Embassy to
United States— Mr. Alcock—Government Organization—Feudal Princes—Tradition
Adverse to Trade—Non-Intercourse— Multiplication o f Treaties—Relative Value of
Metals—Treaty Stipulations o f Lord Elgin's Treaty—Effect upon Currency—Embar­
rassment of Government—Export of Gold—Location of Merchants —Yokuhama—Suc­
cess o f the Location—Trade—State o f General Efforts........................................................ 60

JOURNAL OF ME R C A N T I L E LAW.
Collision—Mutual Fault-Pleadings—Jurisdiction. —Charter— VIutual Covenants—Jurisdiction 63
Charter—Bill of Lading—Cargo on D eck—Jettison-Jurisdiction.—Seamen’s Wages—Unau­
thorized Employment........................................................................................................................... 60
Towing—Damages.—Jurisdiction—Towing Contract........................................................................ 70

COMMERCI AL CHRONI CLE AND R E V I E W .
Decline in the Value of Money—Decline Abroad—The Invasion of Sicily—Stagnation o f Busi­
ness—Falling Prices—Crops o f Food Promise W ell—Checks Merchants Here—Large Ex­
ports—Cotton—Breadstuffs—No Enterprise to Demand Capital-Capital and Travel Tend
to New Y ork—Popular Attractions-Central Park—Great Eastern—Prince o f Wales—Ja­
panese Embassy—Travelers to Europe—Table of Numbers—Rapid Increase—Importance
o f the Expenditure—Steam Facilities—Influence on Hotels and Business—Crystal Palace
Excitement—Its Results— Plethora of Money—Table of Rates—Cheaper than Ever—Paper
Better Character—Bank Discounts—Rates o f Exchange—Shipments o f Specie—Table of—
Fall of Money in London—Supplies of Specie—Assay-Office—Mint—Coinage—Law o f 1853
—Silver Coinage—Great Supply of Currency—Effect upon Bank Circulation—Drives Out
Gold—Redundancy of Cheap Money—Imports .......................................................................... 71-78
VOL. XL III.-----N O . I .
2




18

CO N TEN TS' OF

H O . I .,

V O L . X L III.
PAOB

JOURNAL

OF B A N K I N O .

CURRENCY,

AND

FINANCE.

City of New York Finances........... ..............................................................................

If!

City "Weekly Bank Eetiirns—Banks of New York, Boston, Philadelphia, New Orleans, Pitts­
burg, St. Louis, Providence............... ................................... ..........................................................
Fourth Annual Report of the Boston Clearing-house Association........................... ........... .........
Revenue from Customs in Upper and Lower Canada.............. ..........................................................
Minnesota State Finances.—Cincinnati Personal Property...............................................................
Savings Banks of New York.—Valuation of Toronto.........................................................................
The Coins of Japan.—English Customs & Duties.—Cash Sales in Cuba & two per cent Discount
Assay of the Coins of Japan............................................................................................. .....................

81
83
84
8o
86
87
88

STATISTICS

OF

TRADE

AND

COMMERCE.

Whale Trade o f the North Pacific............................... ........................................................................ 89
Loss of Ocean Steamers.—British Trade Returns for the year ended December 31, 1859............. 91
Wheat Trade.—Beet Root Sugar Product in the Zollvevein............................................................ 94
Gold Exports of California.—Sugar Product, 1859.......... ................... .......................................... 95
Burning of Cotton at Sea.—Ohio W ool Prices.— Ceylon Exports of Produce, Oct. 1 to Sept. 30. 96
Brazil Trade.—Sugar and Coffee in Europe.......................................................................... ...........
97
Progress of British Shipping—Rapid increase o f Steam Tonnage..................................................... 98
United States Trade with Marseilles..................................................................................................... 98
The United States and Canada................................................................................................................ 99
Imports and Exports of Boots and Shoes, Leather and Hides, for the last three fiscal years . . . . 99
Iron Trade in Sweden.—Trade of Boston for April.—Tobacco and the Spanish Governm ent. . . 100

POSTAL

DEPARTMENT.

Dead-letters—New Law.—The British Post-office............................................................................. 101

JOURNAL

OF

INSURANCE.

Life Insurance Laws o f New Y o r k .......................................................................................................
Town Insurance Laws o f New York.—Cincinnati Fires—Paid Department...............................
Recapitulation of Losses in May, 1860.................................................................. *...............................
Life insurance........................... .............................................................................................................

COMMERCIAL

102
108
103
104

REGULATIONS.

Duty on W ool in F ra n ce ................................... ................................................................................. 104
Extracts from the Port Regulations of Havana ................................................................................. 105

NAUTICAL

INTELLIGENCE.

Light in Port Fairy, Australia.....................................................
..................................................
Light in Portland Bay, Australia.—Fixed Light on Lille Feisteen Island, N orw ay....................
Fixed Light at Burnt Coat Head, Bay of Fundy.................................................................................
Fixed Light at Calella, Coast of Spain..................................................................................................
Fixed and Flashing Light on Cayo Paredon Grande, Cuba...............................................................
Rockabill Lighthouse, and St. John’s Point Light, Ireland...............................................................
Temporary Light at Colombo, East Coast o f Ceylon..........................................................................
Intended Floating Light, near the Varne Shoal, Straits of Dover..................................................

RAILROAD,

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

Steam Marine o f the United States.......................................................................................................
Railroads in Cuba......................................................................................................................................
Railway from Bangor to New Orleans...................................................................................................
Cotton and Railroads.—Abolition o f Canal Tolls in Canada..............................................................

JOURNAL

106
107
107
108
108
109
109
109

OF M I N I N G ,

MANUFACTURES,

AND

ART.

Iron Production for 1859 in Eastern Pennsylvania.............................................................................
Analysis of Platina and Gold in Missouri..............................................................................................
Photography in Machine Building.-Saw Capacity.............................................................................
Progress—Scales.— Units of Power.—S alt............................................................................................
Tin.—Classification of Leather Skins.....................................................................................................
Temperature..............................................................................................................................................
The Iron Trade.—The Motion of a Cannon Ball.—Vapor..................................................................
Spindles in England and Cotton Supply...................... .........................................................................

STATISTICS

OF

AGRICULTURE,

OF

POPULATION,

&c.

Longevity in England..............................................................................................................................
German Population---- — .....................................................................................................................
Roxbury and its Population....................................................................................................................
Population and Area of the States of Mexico.—Duration of L ife.....................................................
Population o f Java and Madura.—Enlargement of Paris...................................................................

MERCANTILE

MISCELLANIES.

A Voyage down the A m oor......... ........................................................................................................
Excitemf nt the Stimulus o f Business....................................................................................................
Discontent.—Learn the Value of Money......................... .....................................................................
Wear and Tear of Steamships.—Labor, the Condition o f Success.....................................................
Early Hours.—Rules for the Economical.............................................................................................
Employments for Ladies...........................................................................
Commerce and the Peerage.—Living within M eans..........................................................................
Customs on the Gold Coast.—Modern Shipbuilding.................................................................. .........

THE

116
117
118
119
120
121
122
123

f ce.

Agriculture of Ohio ...................................................................................................................... . . . .
Agriculture in Hayti.................................................................................................
Products of Wisconsin.—Indigo Culture..............................................................................................
Rule for Predicting the Weather.............................................................................................................

STATISTICS

110
112
114
115

124
125
126
128
129
13d
132
133
133
184
135
136
137
139
140
141
142

BOOK T R A D E .

Notices of new Books or new Editions......................................................................... ..................143-144




H U N T ’ S

MERCHANTS’ MAGAZINE
AND

COMMERCIAL REVIEW.
J U L Y ,

1 860.

Art. I.— REVIEW , HISTORICAL AND CRITICAL, OF TIIE DIFFERENT SYSTEMS
OF SOCIAL PHILOSOPHY :*
OR, INTRODUCTION TO A MORE COMPREHENSIVE SYSTEM.
PA R T V II.

A H IS T O R I C A L G L A N C E A T T H E C A R E E R O F T H E A R A B I A N S D U R I N G T H E

P E R IO D

OF

T n E IR

GREATEST

E N L I G H T E N M E N T — T H E I R C O N T R IB U T IO N S T O G E N E R A L S C IE N C E B R I E F L Y N O T IC E D — F I V E G E N E R A L O B S E R V A T IO N S S U G G E S T E D B Y T p E I R D IS T IN G U IS H E D C A R E E R A S L E A D E R S O F C I V I L I Z A T I O N — M O H A M ­
M E D A N IS M A N D T H E I D E A S I T E M B O D IE S , T H A T A R E O F I M P O R T A N C E
I N C ID E N T A L L Y C O N S ID E R E D — SO M E G E N E R A L R E M A R K S

ON TH E

A S P R IN C IP L E S IN

C O N D IT IO N

OF

S O C IO L O G Y

THE M OHAM M EDAN

N A T I O N 8 I N C ID E N T A L L Y M A D E .

T h e sun o f civilization had not set on Europe quite three centuries,
before it rose again with intense brilliancy upon the Asiatic portion o f the
Caucasian world. The Arabians, deriving, as it were, a new birth from
the inspirations of their great prophet, for the first time appeared in the
world as conquerors in arms and instructors in science.f
It has been customary, hitherto, with those who have undertaken to
present, at least from an European stand point, a historical sketch o f the
progress of the human race, whether in relation to the general develop­
ment of the race, or the particular development o f any art or science, to
ignore the part which has been played by the Arabians, or at least, to re­
* Entered according to an act o f Congress, in the year 1859, by G e o . W . & J no. A. W o o d , in the
Clerk’s Office of the District Court of the United States, for the southern district o f New York.
t The time here fixed upon as the hour of sunrise for the second day or well defined epoch of hu­
man civilization, is the year o f Christ 749, when the first Caliph of the Abbasside dynasty ascended
the throne. This, counting from the hour already fixed upon for the sunset of the first civilization,
or A. D. 476, gives an intervening night o f 273 years, just about 2$ centuries, or, as we might desig­
nate it, on the dial plate o f history, 2f hours. Some might prefer to fix the time in the year 763,
when Almanser, the second Caliph of the Abbasside dynasty, removed the seat o f Saracen empire
from Damascus to Bagdad. But in fixing the time in A. D. 749, we have followed the example of
the Arabians themselves, who date the luster o f their civilization from the-first Caliph o f the Ab­
basside dynasty.




20

Review, H istorical and Critical,

gard it as comparatively insignificant— to treat it as a mere episode in the
great epic of history, as a subordinate piece, or by-play, rather than one
of the prominent acts, in the grand drama of human development. Thus
Bacon, in his Advancement o f Learning, when speaking o f the three
“ visitations ” of learning which he recognizes, regards them as the Gre­
cian, Roman, and present one, almost totally ignoring the Arabian con­
tribution to general science.* Tennemann, too, that great comprehensive
German scholar, in his “ Manual of the History of Philosophy,” while
dividing that history into three periods— the first extending from Thales
to Charlemagne, or (as he perhaps less happily has it,) to John of Da­
mascus, which comprehends the interval between the year 600, before
Christ, and 800 after him, or fourteen centuries— the second period from
the 3ear A. D. 800 to 1500— or seven centuries— the third period from A.
D. 1500 onward, embracing the present century,)— Tennemann, while
thus partitioning the History o f Philosophy, assigns to the Arabians an
altogether subordinate place in that history, noticing them of course as
appertaining to the second period.
It would ill become an inquirer, who, like the author of the present
undertaking, is disposed to regard all the various developments in human
history as inseparable parts o f one connected and consistent development,
the proper relations of which are uudiscoverable to human intelligence,
and to consider all the several sciences as but the different parts of one
inseparably connected, all-adhering system, and who believes that all
sciences, and more especially, that most complex o f them all, the science
of S o c i o l o g y , the science of human society, into which they all converge,
and which, more particularly than any other science, is dependent on and
derives its nourishment from all the rest, are languishing under the iso­
lated attempts which have been hitherto made to master them separately,
and without a due consideration of their vital connections with all other
sciences— nay, an inquirer whose leading idea, in undertaking the vast
design in which he is now engaged, is to bring to bear upon the science
of S o c i o l o g y , and its many and long-vexed problems, observations taken
from the stand points o f all the sciences, and more especially from the
whole past of human history— it would ill become such an inquirer,
while taking a historical glance at the prominent developments in human
history, with a view to extracting valuable suggestions, relating to the
philosophy o f society, to fall into the hitherto prevalent habit o f ignor­
ing, or even of lightly regarding, the great Arabian development.
According to the plan upon which the historical sketch here presented,
therefore, is predicated, the whole course o f human development, or that
of the vanguard of humanity and its great central column, the Caucasian
race, is divided into three main periods, (as by Bacon and Tennemann,)
the first period or day embracing the Egyptian, Grecian, and .Roman
civilizations, which are respectively regarded as only different periods of
the same day, and ending with the downfall o f Roman civilization in
Italy in the fifth century— the second period embracing the epoch of Ara­
bian or Saracen civilization, beginning with the latter part o f the eighth
century, and ending with the overthrow of the Arabian dominion in Asia,
* See Advancement o f Learning, edition of 1806, passim.
t See Tennemann’s Manual of the History of Philosophy, as translated by Key. Arthur Johnson,
and revised by J. It. Morell, passim.




O f the Different Systems o f Social Philosophy.

21

about the middle of the thirteenth century— the third period beginning
with the sixteenth century, or thereabout, and extending onward through
the present times. These three periods may be respectively termed the
first, second, and third periods o f human civilization, or the ancient,
medieval, and modern; and they are separated from each other by broad
and well defined lines or belts o f darkness, extending through nearly three
centuries, which may aptly be compared, as.they usually are, to hours of
night, hours indeed which are not to be regarded, by any means, as value­
less, in the lifetime of the race, but only as of comparatively far less value
than the hours of light.
This plan ignores rather the middle age of European civilization than
the Saracenic, civilization, and follows, in its course, the greater rather
than the lesser light. Indeed, why should we direct our attention so
fixedly upon the so called “ scholastic philosophy” of Europe, in the mid­
dle age, with its profitless disquisitions upon those most unprofitable of
all the unprofitable problems o f Metaphysics, those relating to the doc­
trine of essence, a philosophy o f which Thomas Aquinas, Duns Scotus,
Roger Bacon, Roscellin, and Abelard were almost the only distinguished
lights, and bestow only casual notice upon the corresponding period o f Ara­
bian philosophy, concerning which, it has been said, “ the names alone
of the Saracen philosophers, mathematicians, astronomers, physicians,
botanists, chemists, and architects, who illustrated this period o f Arab
history, would fill a volume.” *
What though we know too little of the Arabian science and learning
of this period to be able to speak o f them with reliable particularity 1 It
is at least desirable that we should recognize their value, and that atten­
tion should be turned in this, the right direction, for discovering the most
valuable contributions of the human mind, during this period, to the
stores of general knowledge. Enough is known to assure us that the
contributions o f the Arabian mind, during this period, were of a dis­
tinguished character, and have exerted an important influence on the art
and science of the present day.
The Arabians were distinguished proficients in medicine, the inventors
of chemistry, the perfectors, if not inventors, of Algebra, and either the
inventors, or the medium for transmission, from India to Europe, of those
arithmetical characters, commonly known as the Arabic numerals, now
universally employed among Europeans, and which serve almost as im­
portant a purpose in arithmetical science, as the alphabet serves in the
science of language. It was only in mathematical, physical, and meta­
physical science, however, that the Arabians appear to have made any
noteworthy attainments. In Ethics and Sociology they do not appear to
have contributed anything valuable, at least in a scientific form, or of a
speculative nature. Their genius was indeed, and doubtless still is, like
that of the French, peculiarly adapted to the exact sciences. Carlyle
has styled them, “ Oriental Italians,” f and probably with very great pro­
priety. But this they have, in common with the French and Italians,
but more especially the former, of whom it is more especially the char­
acteristic, that their turn is for the ex id, rather than the non-exact, sciences,
* McCullogh’s Geographical Dictionary—title Arabia.
t The language of Carlyle is, “ The Persians are called the French o f the East; we will call the
Arabs Oriental Italians.” See Carlyle on Heroes, p. 43, in the lecture entitled “ The Hero as Pro­
phet.”




22

R eview , H istorical and Critical,

to which latter, Ethics and Sociology pre-eminently belong. The genius
for these two orders of sciences, as we have before had occasion to re­
mark, concerning the talent for speculation and practice, are rarely found
combined, in an eminent degree, either in individuals or nations ;* so
that the possession o f the one may be fairly and scientifically argued
against that of the other, and the renowned eminence o f the Arabians,
as mathematicians, may be relied upon with some degree o f confidence,
(in the absence of more direct evidence) as proof that they were deficient
as Sociologists. For thus it is that the French, while they are illustrious
as mathematicians, and in all the sciences to which the exact principles
o f mathematics may be applied, furnish us in Sociology little else than
the delusive extravagancies of Fourier, St. Simon, Proudhon, and Condorcet, the lofty generalities o f Comte, and the mawkish puerilities of
Louis Blanc, relieved only occasionally, and at long intervals, by the pro­
found, yet practical and really valuable observations of Montesquieu and
Guizot— omitting all notice of the contributions of Say, and other French
savans, to the science of mere Political Economy.
Tennemann, in his History o f Philosophy, has, however, justly remarked,
for one speaking from the stand-point o f an European, “ after all, the re­
cords of Arabic philosophy have been too little investigated to enable us
to speak of them with sufficient certainty,” f
And this remark may be
as correctly made, concerning the Social Philosophy o f the Arabians, as
concerning their more fundamental philosophy, to which Tennemann re­
ferred, the metaphysical. Yet, for the reason just stated, and for those
before adverted to, in this review,| arising out o f the despotic character
of government among the Asiatics generally, and the incompatibility of
such governments with the spirit of free inquiry in matters appertaining
to the philosophy o f society, it may be pretty safely concluded, that Euro­
peans are none the less wise in social science because o f their limited ac­
quaintance with the learning and speculative philosophy of the Arabians.^
It does not, however, follow, as we have before had occasion to remark,
upon Roman Sociology, because the Arabians have not contributed any
speculative or theoretical ideas of special value in Sociology, that noth­
ing valuable to social science is to be derived from an attentive observa­
tion, either of the actual structure o f their society, or o f their extraordi­
nary career as conquerors and discoverers in science. Indeed, he must be but
a limited proficient in Sociology, who could not obtain some valuable
observations in relation to the philosophy of society from a review o f the
extraordinary career of the Arabians, during the period of their greatest
enlightenment, when they proved themselves the leaders of the human
race, in art and science, as well as in political dominion, during five
centuries.*§
* See part v. o f this Review, that on Roman Sociology, vol. xlii., p. 276, o f Merchants’ Magazine.
t See Tennemann’s Manual of the History o f Philosophy, translated by Johnson, and revised by
Morell, section 257.
X See part iii., o f this Review in Merchants' Magazine for December, 1S59, vol. xli., p 073.
§ The author o f this review cannot lay claim to any special illumination on Arabian science or
general literature. He is unacquainted, like most Europeans and Americans, with the Arabic lan­
guage, and has not even enjoyed the privilege of many authorities now quite accessible to European
students, in Latin at lea st-n ot even such well known authorities as Anulfaragius and Abulfeda.
The authorities on which he has had mainly to rely, concerning the Arabians, are Gibbon’s Decline
and Fall of the Roman Empire, Hallam's Middle Ages, Crichton’s History o f Arabia. Irving’s Life
o f Mahomet and his Successors, Tennemann’s HLtory of Philosophy, the Encyclopedia Britannica,
McCullogh’s Geographical Dictionary, and the Koran, as translated by Sale.




O f the Different Systems o f Social Philosophy.

23

Their religion alone, Mohammedanism, the outcome o f the Arabians,
would of itself constitute a theme worthy of a searching examination,
in relation to its bearings^on the social condition. Much of what it would
be important to say on this point, however, has been already said, in re­
marking on the influence of Christianity.* For Mohammedanism is not
only, like Christianity, a system of religion, and therefore subject to all
the remarks already made concerning the influence of religion in general,
but it is a system of religion very nearly akin to Christianity— in fact, a
sort of spurious Christianity.|
All religions* are indeed very nearly allied, and may be regarded as
fundamentally the same, notwithstanding the ignorant impression so pre­
valent to the contrary. They are all expressions o f the deep inward sense,
in man, o f dependence on a Higher Power, whom it is his duty and interest
to strive to propitiate by reverence and homage, by the performance o f some
acts, and abstinence from others. And as some religions are more in­
timately allied than others, so are the Christian and Mohammedan— the
great Arabian prophet and reformer having evidently borrowed many o f
liis most valuable ideas and precepts from Christianity, and the general
scope of the two systems being very much the same, and essentially differ­
ing only in some important points of morality. In short, Mohammedan­
ism may not only be regarded as a spurious form of Christianity, but it
may furthermore and essentially be regarded as Christianity, so far as the
Arabians are capable of receiving it.
For this reason, therefore, that we have already, in our remarks on
Christianity, said much of what it would be proper to say concerning
Mohammedanism, and for another, namely, that what remains to be said,
concerning the latter system, and as peculiar to it, may as well be noticed
incidentally, and as appurtenant to other more general remarks, we shall
subordinate the remarks which it is proposed here to make, on the Moham­
medan religion,
O
' to others of a more ogeneral character in ,relation to the
Arabians. W e shall not make Mohammedanism so prominent an object
of consideration as we have made Christianity.
Had we considered Christianity as it is now proposed to consider
Mohammedanism, we should have regarded it as an incident to the He­
brew nation, and should have appended our remarks upon it to what we
had briefly said before, concerning that people, while taking a brief
historical glance at the different Asiatic nations, of the Caucasian family,
that had flourished before the Grecian age.J But Christianity is too im­
portant a development in human history to be thus subordinated, con­
sistently with any rules of philosophical or scientific propriety. It is too
general, too comprehensive, too cosmopolitan, in its scope and spirit. The
Hebrews would much more properly be regarded as an appendage of
Christianity, than Christianity as an appendage o f the Hebrews.
Christianity, moreover, has all the characteristics of a movement of the
* See part vi. of this review, in May number o f Merchants'' Magazine for 1860.
+ To many poorly informed persons this remark may appear extraordinary. But to those in
Christendom, who doubt the resemblance and near affiliation o f Mohammedanism as laid down by
Mohammed, to Christiahty as taught by Christ, we have only to say, rend the Koran, and observe
how it not only inculcates many of the same noble precepts as Christ, and repeats the same ideas,
narrations, and traditions that are to be found in the old Hebrew Scriptures, but with what habitual
and uniform reverence it speaks of Jesus and many others characters revered by Christians, as Abra­
ham, Moses, and the prophets.
X See part iii. o f this review, in Merchants’ Magazine for December, 1859, y o I . xli., p. 672.




24

Review, H istorical and Critical,

race, rather than o f any one nation, in which respect it differs alike
from Mohammedanism and Judaism. Mohammedanism may be properly
regarded as the outcome o f the Arabians— Christianity as the outcome
of humanity— of the highest type o f the human genus ; Mohammedanism,
too, represents well the prominent traits o f the Arabians, but Christianity
does not so well represent those o f the Hebrews. It is too catholic, too
fraternal in its spirit, stretching out its generous arms to embrace the
whole human family, while Judaism is contracted, selfish, egotistical, ex­
clusive, and fenced round with the idea that its people are “ the elect,” that
they are “ the chosen people of God,” and that if it be well with them, and
their household, it matters not about the condition of other kindreds
and peoples. This much must suffice as to the reasons for subordinating
our remarks on Mohammedanism to more general ones on the Arabians,
notwithstanding we have given to Christianity a distinct and paramount
consideration, without subordinating it either to the Hebrew nation, out
o f which it issued, or the Koman, under whose empire it was developed
and established as a dominant power in the wrorld.
All the remarks which it is proposed here to make concerning the Ara­
bians, as suggested by their extraordinary career as leaders o f civilization,
may be comprehended under these five general observations :•— I. Their ca­
reer illustrates forcibly the influence o f religion, or the sentiment o f religi­
osity, on society, and even more strikingly than the career of Christianity.
II. It not only illustrates forcibly the influence o f religion, as a socio­
logical force, but it reveals, very strikingly, the great fundamental truth
that there are sociological influences more fundamental than religion, and
tending to determine the character of a nation’s religion, and among
them the influence of race, or ethnological causes. III. Their religion
itself, Mohammedanism, suggests and embodies some valuable principles
in Sociology. IV. Their condition, and that o f other nations who have
adopted their religion, illustrates very clearly, and more so than that o f
any other nations, the importance of well organized government, and the
real nature of the evils of bad government. V . It reveals and strikingly
illustrates the great sociological law, that the higher the organism of the
society, or body politic, the more liable it is to derangement, disease, and
death.
Concerning these general observations upon the career o f the Arabians,
and as a reason why a review o f Arabian history, in reference to its bear­
ings on social science, is the more worthy o f attention, it is proper
to remark, that while these observations, or most of them, are abundantly
illustrated by other examples, they are nowhere to be found so strikingly
and unmistakably illustrated, and on so large a scale, as by that of the
Arabians, and some other nations that have adopted their religion.
I. The career o f the Arabians, as leaders o f civilization, forcibly illustrates
the influence o f religion, or the sentiment o f religiosity, as a sociological force,
and even more forcibly than the career of Christianity. As it is by ex­
treme cases that we best illustrate principles, so also it is by extraordinary
occurrences which stand out in bold relief from the back ground of com­
mon places, or the ordinary course o f human events, that principles are
most clearly and strikingly exemplified.
It is for this reason that the
career of the Arabians, as leaders of civilization, in which they were im­
pelled by the motive of propagating the Mohammedan religion, illustrates,
more forcibly than does the history o f Christianity, the influence of the




O f the D ifferent Systems o f Social Philosophy.

25

religious sentiment upon tlie movements and general character of society.
The influence of Christianity was gradually and quietly exerted— that o f
Mohammedanism suddenly and violently. Christianity followed the or­
dinary course of human events, wisely seeking, everywhere, to accommo­
date itself to the existing order of things— Mohammedanism forcibly and
rudely broke in upon established institution, proclaiming, everywhere, as
the only alternatives it offered to mankind, death, tribute, or the Koran.
Christianity, as Gibbon expresses it, “ gently insinuated itself” into hu­
man society, and so quietly and imperceptibly established its dominions
as to leave it a matter of some doubt what influence it has exerted on
human affairs, and whether, indeed, it has exerted any very important in­
fluence. Mohammedanism swept over the world like a raging torrent,
or devastating tornado, and so sudden were the revolutions and transfor­
mations it occasioned, that, whatever doubt it may have left as to the util­
ity of its influence, it has left none as to the marked and decided charac­
ter of that influence.
Before the time of Mohammed the Arabians had never played any
prominent part in human affairs. They had scarcely been recognized as
having any place in the family of nations. They had lain there, in their
secluded abodes, almost as much a blank on the face of the moral
or humanitarian world, as their own sandy and rocky wastes, on the sur­
face of the natural. But when this extraordinary man, with his high
inspirations and deep religious sentiment, through the aid o f favorable
circumstances, by combining the various religions which had been long
scattered over the Arabian peninsula into one,* and infusing into that his
own strong convictions and enthusiastic impressions, had thoroughly
aroused the religious sentiment o f the Arabians, and fired them with the
idea that there is a God who rules in the affairs of this world, who super­
intends the actions o f men, and requires of every man to do his duty,
and that this God had spoken to them, through the lips of Mohammed,
commanding them to renounce idolatry, acknowledge the Koran, and go
forth, as warriors, to propagate and spread the gospel it proclaimed, the
long-dormant energies of the Arabian character were aroused— Arabia
for the first time started up into life— its long-despised people went forth
to proselytize and to conquer, and the empires o f the world were swept
before them like chaff driven before some mighty wind. Nor did the
Arabians, under the influence o f their religious frenzy, become conquerors
and destroyers only, but regenerators and preservers also. They who
had before been semi-barbarous became the leaders of civilization. They
who had been scarcely acquainted with letters became instructors in
science.
* It is abundantly clear that the Mohammedan religion is, to a very great extent, the result o f a
fusion of the various religious ideas which had before prevailed, more or less extensively, in Ara­
bia—the Sabian, (or ancient religion of the Arabians,) the Magian. (or ancient religion o f the Per­
sians,) the Jewish, and Christian. Its most valuable ideas are undoubtedly taken from the Jew­
ish and Christian systems. In fact, no entirely new system, either o f religion, ethics, or politics,
has ever sprung up in the world, at least within the. historic period. Every new system is but the
grafting o f new ideas upon previously existing and generally received ones. This is true even o f
the Christian religion itself. There are no great leaps in the course o f nature, but a steady, on­
ward course of progressive development, disturbed at times, it is true, by oscillation and violenco;
but in the main, a steady, onward course of progressive development, either towards perfection or
destruction—a progressive development o f the principle of death, as well as o f life, o f decay, as well
as reproduction, and not, as certain short-sighted theorists suppose, a progressive development only
o f the principle of life and perfection—theorists who, in their narrow scope o f observation, regard
only God, the Creator and Preserver, and ignore God, the Destroyer.




26

R eview , H istorical and Critical,

If such be the power of the religious sentiment, when impelled and guided
by such erroneous ideas o f man’s highest duties, may we not obtain there­
from a tolerably reliable estimate of the momentum of that power when
impelled and guided by more just ideas of duty? If such be the influ­
ence of the religion of force, of conquest, and of war, may we not rea­
sonably argue a potential influence also for the religion o f peace, gentle­
ness, and love 1 If such have been the achievements of the Saracen
warriors and heroes of the Koran, in their endeavors to propagate the re­
ligion of Mohammed, who shall estimate the influence, on the condition
of human society, o f those far nobler heroes enlisted under the sacred
banner of Christ— those armies o f heroic women, not without a few no­
ble escorts of men, the true soldiers o f the cross— whose warfare consists
in deeds of charity and words of love, who devote their lives to the noble
purpose of alleviating the distresses of their fellow mortals, and who go
forth into the by-ways of the world, and into the lanes and alleys of its
crowded cities, to seek out the lowly, neglected, and oppressed of t h e
g r e a t f a m i l y , and minister to their wants !
Nor is the power o f the religious principle conspicuously illustrated
only in the achievements of the Arabians, either as conquerors in arms or
instructors in science, but also in their non-achievements, or that apathy
and indifference to enterprise which so remarkably distinguish them and
other nations that have adopted the Mohammedan religion. For all of
those nations, and more especially the Arabians and Turks, are scarcely
less distinguished for their activity in war than for their indolence in
peace, and their indifference to the arts and enterprises o f peace. For
the Arabians, even in the period of their greatest enlightenment, and
when they were acting as the leaders o f civilization, under the renowned
Caliphs o f Bagdad, were much more conspicuous for their attainments in
science than their achievements in art, and excelled in contemplative
rather than in practical philosophy.
This fact is doubtless attributable largely to influence of race, or ethno­
logical causes, but as undoubtedly, in a great measure also, to influence of
religion. For the Mohommedan religion, while it is well calculated to in­
spire that enthusiasm in war which carried the Arabians so triumphantly
through their brilliant career as conquerors, is also equally as well calcu­
lated to foster a spirit of indolence and apathy in regard to the ordinary
enterprises o f life, and, indeed, in regard to the enterprises of war, ex­
cept when prosecuted under some violent and short-lived impulse.
No religion in the world inculcates so strong a belief in the superin­
tendence of the Supreme Being, so implicit a faith in his predestination
of the course of human events, or, as some might express it, so b.ind a
trust in fate, as that of Mohammed ; and among no nation do we find
those national traits, which may be regarded as the legitimate offspring
of such religious belief, so conspicuously illustrated as among those who
have embraced the Mohammedan religion.
Accordingly, Crichton, in
his admirable history of Arabia, in allusion to that great and overshadow­
ing tenet of Mohammedanism— belief in predestination— has justly ob­
served, “ Over all the Mohammedan nations of the present day the tenet
still reigns in its pristine force, and its effects are visible in that torpid
inactivity of mind which supersedes the exercise of reason and industry,
and considers every attempt to change the common order o f things as a




O f the Different Systems o f Social Philosophy.

27

crime not far removed from rebellion against the established laws o f the
Deity.” *
From this observation o f Crichton, it is apparent that religion may
have injurious as well as beneficial effects, and that a religion which, like
that of Mohammed, inculcates so implicit a trust in God as to impair
materially the self-reliance of man, and to paralyze his energies, must, to
that extent, or in that respect, exert very pernicious influences on the
general character of a people, and the condition o f their society.
II. The career o f the Arabians, as leaders o f civilization, not only forcibly
illustrates the influence o f the religious sentiment, ns a sociological force,
but it reveals, very strikingly, the great fundamental truth, that there are
sociological influences more fundamental than that o f religion, and tend­
ing to form the religion itself, and among these, influence o f race, or ethno­
logical causes.
It had been o f little avail to the Arabians that Jesus o f Nazareth,
“ the meek and lowly Nazarene,” had preached his pure and heavenly
gospel in their immediate neighborhood. In vain for them had he called
on men to renounce and abjure the ignoble traits o f their nature, and to
be guided only by the nobler and more divine principles that are in them.
In vain for them had he inculcated the religion o f self-denial, of chastity,
of humility, of gentleness, long suffering, and forbearance. In vain for
them had he attested his divine mission by a life of the most exalted pu­
rity, and by speaking “ as surely never man spake before.” In vain for
them bad he offered up his life upon the cross, that the blood o f a mar­
tyr so precious might prove the seed of a church designed to be so holy.
They had heard, but had heeded not. Other nations had embraced his
gospel, so far, indeed, as even they were capable of embracing it. The
Greeks, the Romans, nay, the rude barbarians o f Northern Europe had
recognized him as the great messenger from heaven to earth, and the
true i n t e r m e d i a t e between the human and divine. But the Arabians
were not particularly moved by his life or doctrines. It was not by such
doctrines as Christ promulgated that the religious sentiment o f the Ara­
bians was to be aroused or powerfully stimulated. Christianity was not
the religion to take root in their hearts. It was not the creed with which
the leading traits of their character could affinitize. It was too spiritual,
supersensual.
But when Mohammed appeared and announced that all the revelations
from God to man, before his time, were but preparatory to the one he
had to communicate ; that Abraham, Moses, and Jesus were indeed great
prophets and divinely commissioned teachers, but only empowered to
make way for the great and final gospel which he was commissioned to
promulgate; that the Arabians, not less than the Israelites, were a pecu­
liarly favored people o f A llah; that to this people Allah had at last
vouchsafed to speak, through the illustrious house of Hashem, in the
person of Mohammed, in order to make known to all mankind the true
religion, and the right road from earth to heaven; when, moreover, the
religion promulgated by this Mohammed proved to be a religion of out­
ward performances rather than of inward righteousness— a religion which
proclaimed its kingdom to be of this world, as well as of the world to
coine— a religion which tolerated the spirit o f retaliation and violence,
* See Crichton's History of Arabia,chap. yii.




28

Review, H istorical and Critical,

which allowed and even commanded proselytism by the sword, rather
than by gentleness and patient perseverence in well doing— a reli­
gion which enjoined almsgiving on a people naturally generous, justice
on a people naturally magnanimous, warfare in behalf of religion on a
people naturally warlike and habitually predatory, abstinence from wine
on a people not much addicted to drunkenness, and occasional fasting on
a people by their modes o f life habitually inured to great privations, and
which, beyond these requirements, allowed great latitude of self-indul­
gence— a religion which, instead o f enjoining chastity and discounte­
nancing all the carnal appetites, allowed its votaries great license, in re­
spect to those appetites, in this world and unbounded indulgence in the
next— a religion, in short, which granted to its followers many rewards in
this life, and ottered them a heaven in the life to come— not the chaste
and spiritual heaven of Jesus, in which “ there is'neither marrying nor
giving in mariage,” but a heaven o f the most transporting sensuality— a
heaven in which to the wives o f the pious Moslem in this world were to
be superadded seventy-two wives of the nymphs of Paradise, celestial vir­
gins whose charms and beauties were to exceed all terrestial conceptions ;
when this religion was proclaimed, and its divine authority was attested
by a few extraordinary victories and some supposed prodigies, then it was
that the great passionate heart of the Arabians was fired with religious
enthusiasm; then it was that Arabia started up with a shout which
startled the nations, and from her arid plains and sandy wastes there
went forth a spirit of religious frenzy that swept the kingdoms of the
world like chaff before it.
Other illustrations of this great truth, as to the dependence o f the reli­
gion on the race, are to be found in human history, but none so striking
or so unmistakable as this. W e may see it strongly enough exemplified
in the very slow progress made by Europeans in their efforts to Christian­
ize the Hindoos, Chinese, Siamese, and some other nations. Out of the
hundred millions of Hindoos not so many as a hundred thousand converts
to Christianity, or one in a thousand, can be shown as the fruit o f all the
long and strenuous efforts that have been made to Christianize them.
Nor is it probable that future efforts in this direction will be much more
successful. “ Men do not gather grapes o f thorns nor figs of thistles.”
Neither will they gather the fruit of Christianity from Hindoo character.
It is difficult to say what progress may not be nominally made in
Christianizing the Hindoos, or any other nation, by accommodating the re­
ligion to the people, as has been practiced everywhere, perhaps, instead of
bringing the people up to the true standard o f the religion. Neither is
it very easy to say how far the operation o f concurring causes, extending
through ages, by gradually changing or modifying the inherent traits of
the Hindoos, or any other people, may fit them to receive the religion and
high toned morality of Christ. But this much may be regarded as cer­
tain, that so long as the Hindoos continue to possess those fundamental
traits which they now possess, in short, while they continue to be essen­
tially Hindoos, the gospel of Christ, as it was preached by its great au­
thor and his early apostles, will never be cordially embraced by them.
This is a truth which, however ungrateful it may be to many pious souls
in Christendom, it is well that all should thoughtfully consider. For it
is one of the many ramifications o f a great fundamental truth or princi­
ple in social philosophy, of very extensive applications, and which has




O f the Different Systems o f Social Philosophy.

29

been hitherto altogether too little considered by those who have under­
taken the arduous office o f propagandist, either in religion or politics.
Our review, historical and critical, of the different systems of social
philosophy, and of the various ideas relative thereto, which are to be
gathered, (either as having been theoretically or practically developed,)
from a survey of the past in human history, has, thus far, already brought
under our consideration some of the most fundamental and profound
principles of social science. W e have already had occasion repeatedly
to observe that p o l i t i c a l c a u s e s , to which superficialists in social phi­
losophy attach such undue importance, are not, by any means, among
the more fundamental causes which tend to determine the social con­
dition, and that there are clearly discernible and manifest causes, (to
say nothing of more occult and obscure ones,) that are much more fun­
damental in their influence on the condition of society. W e have also
had occasion to observe, while taking a review of Christianity and its
influence on human society, that r e l i g i o n is one of those more funda­
mental and manifest causes. And now, while reviewing the career of
the Arabians, as leaders o f civilization, and their religious manifesta­
tions, we have occasion to observe that there are causes yet more fun­
damental than religion operating upon the condition of a people, and
tending to determine their religious as well as their political destiny,
and that among the most prominent o f these causes is that of r a c e . •
It only remains that we should have occasion to contemplate the causes
which tend to mould or modify race, and we shall have pushed our in­
quiries as far as it is permitted to man to penetrate into the philosophy
of society, and taken a glance, very partial and imperfect, to be sure, at
the whole scope of causes operating upon the existing condition o f any
state of human society, and all of which are to be attentively considered
by him who would arrive at a correct and complete solution o f any of its
vexed problems.
It is not within the province of this review to consider the applications
of the principles which it may develop, at least beyond the extent that
may be necessary clearly to illustrate the principles. Yet the principle
just developed, as to the dependence of the religion and political status
of a people upon their race, or ethnological traits, suggests so ready and
complete a refutation to some of those multitudinous schemes of social
revolution, which are among the pests o f the present age, that we may
well be excused for making a slight digression from the steady forward
march of our review, in order to make this practical application.
Among the multitudinous schemes for social revolution and regenera­
tion, which have been spawned out of the prolific womb of modern
quackery, none is perhaps more entitled to notice, alike for the amiable
character o f its projector, and the valuable truths that are to be found
incorporated with its great fundamental errors, than that of Robert Owen
as developed in his work entitled, “ The Book of the New Moral W orld,
containing the Rational System of Society.”
In this scheme, Mr. Owen
recognizes plainly enough, though not in so many words, the great truth,
that in order to reform society, it is necessary to reform man ; and thus far
he shows himself far wiser than many o f the quacks in social science.
But he commits the error, (which is one, but not the only one, of the
grand fallacies of his scheme,) o f vastly underestimating the difficulty o f
reforming men, which is, after all, the real difficulty o f all these projects




30

Review, H istorical and Critical,

for the amelioration of the human condition. Mr. Owen indulges his
fancy with the vain conceit, spun out into an elaborate tissue of the wild­
est dream, work, that by a system of instruction and education, grounded
on what he terms “ true first principles,” * or more particularly on a
knowledge of the real nature of man— a system of instruction and edu­
cation of which he claims to be the great a p o s t l e — it is practicable, nay
quite easy, to make men “ rational,” to use his favorite expression; in
other words, to make them wise, truly wise, and, of course, also truly vir­
tuous, since, obviously enough, no man is truly rational, or wise, who is
not also virtuous.
This great difficulty, o f making men wise and virtuous, which the
greatest philosophers and virtuosi of all ages, the most renowned law­
givers and reformers in religion, have grappled with in vain, Mr. Owen,
(like many of our would-be reformers o f society,) weakly imagines that
he can easily master by his plan o f instruction and education—-without
any exception on account o f the vast diversities of individual and na­
tional character, and whatever may be the fundamental traits either of the
individual, or the race, which latter are but the fundamental traits or pe­
culiarities o f the individual developed and expanded into those of the
nation, or family of nations. But how appears this vain dream, this pue­
rile conceit of Robert Owen, in view of the great, indisputable facts of
human history which we have been considering in this and the foregoing
part of our review, and more particularly in view of that significant fact
which has just passed under our review, as to the almost total failure of
Christianity to make any impression on the Arabians, to say nothing of
the very slight impression it has really made upon any part of mankind ?
If the sublime religion of Jesus Christ, with its transporting hope of
an unending heaven, and its awful threatening of an eternal hell, con­
curring with the most beautiful and noble sentiments of morality, to con­
strain men to that course of exalted virtue which Mr. Owen thinks it so
easy, upon his plan, to school them into, has almost totally failed to re­
form men— nay, if it has fallen still-born and impotent at the feet of
whole nations, as the Arabians, for example, because of their inherent
and fundamental unfitness to appreciate and embrace it, how preposterous
is the conceit of Robert Owen, that he can exalt men to that high stand­
ard of moral excellence by his plan of instruction and education, which,
whatever merits it may possess, proposes no higher nor stronger sanction
than that of an earthly paradise— a short-lived heaven in this fleeting and
transitory life ! For Robert Owen does not, like his brother impiric in
social science, William Godwin, of an earlier date, promise to men the
attriubtes of terrestial demi-gods, and immortality on earth, as a conse­
quence of coming under his treatment, and consenting to take a box or
two of his “ infallible pills,” which, of course, like other sublime reform­
ers of their kind, they both offer to mankind, “ freely and without price.”
Mr. Owen only promises to men an earthly paradise— colestial bliss while
life lasts, or from birth to death— which promise he makes upon condi­
tion only that they will allow him, the aforesaid Robert Owen, utterly to
demolish the existing framework of human society, everywhere, from top
to bottom, and to reconstruct it upon the plan suggested by “ the a l l ­
* See Owen’s New Moral World, part v., chap. 4, p. 164, of first American edition; also, see same
work passim for the same idea.




O f the Different Systems o f Social Philosophy.

3L

of the influences o f circumstance over human charac­
ter.” * But enough o f this digression, and of these mawkish puerilities
in social philosophy, at least for the present.
III.
The religion o f the Arabians, Mohammedanism, suggests and em­
bodies in itself some valuable principles in Sociology. No duty is more
strongly and frequently enjoined in the Koran, or more prominently re­
cognized, by all pious Mohammedans, as one o f the grand cardinal re­
quirements of their religion, than that of Almsgiving. Indeed, this great
duty is more distinctly and forcibly set forth in the religion of Moham­
med than in that of Jesus or Moses. It is true, indeed, that wherever
Jesus alludes to the poor, it is with the utmost compassion and tender­
ness, and that he repeatedly enjoins upon the rich the duty o f giving
freely, out of their abundance, to the needy, as where he says to a cer­
tain rich man, who was inquiring what he should do to be worthy of the
kingdom of heaven, “ sell all that thou hast and give to the poor.” But
the injunctions to charity in the gospel o f Jesus are, for the most part,
as in the instance just cited, very general, and somewhat too vague and
indeterminate for practical use. It has been the misfortune of Christi­
anity, moreover, that the injunctions to almsgiving have been grossly
misapplied by an interested priestly order, who have far more zealously
inculcated the idea of giving to an abstraction, called “ the church,” than
to the suffering poor o f God’s great household, the human fam ily; and
that, in point of fact, the poor have been too often robbed in order to
maintain in affluence a pampered, and not unfrequently corrupt, church
aristocracy. But the injunctions o f the Koran to almsgiving are too fre­
quent and imperative to admit of any misapprehension or misrepresenta­
tion of this kind. Everywhere throughout the book of Mohammed, and
in almost every chapter o f it, this noble-hearted Arabian speaks out, in
the name of God, commanding men to be charitable to the poor, and to
deal justly with the captive, the widow, and orphan. Indeed, this seems
to be the great controlling idea of Mohammed’s practical morality, as
the unity and spirituality of God, with the consequent abomination of
idolatry, constitute the predominant idea of his theology. Accordingly,
this great duty of charity to the poor is everywhere practically recog­
nized among the Mohammedans, and, as Irving, in his Life of Mahomet,
expresses it, “ every Moslem is enjoined, in one way or another, to dis­
pense a tenth of his revenue in relief of the indigent and distressed.” *
There need be little hesitation in saying that, if it were possible to im ­
bue human society generally with this principle o f giving the tenth o f
each one's revenue to the poor, with proper safeguards against the danger
o f the charity thus dispensed operating as a premium on idleness, one o f
the most extensively beneficial principles towards the general improve­
ment of the social condition of mankind would be thereby introduced.
Of all the modes of distributing the aggregate wealth of society, with a
view to supplying the wants o f those who, from any of those innumer­
able vicissitudes, incident to human life, to which poverty is referable,
stand in need of such assistance, private charity, individual bounty, is,
with little doubt, the very best.

glorious science

* See Owen’s New Moral World, part vi., chap. 5, p. 219, of first American edition; also, see same
work everywhere, for substantially the same idea.
* See Irving's Life o f Mahomet and his Successors, vol. i., appendix, p. 305. Putnam’s edition
of 1850.




32

Review, H istorical and Critical,

One of the greatest difficulties which the social philosopher has always
had to encounter is, how is it possible to give freely to the poor without
thereby offering a bounty on indolence; or, in a larger sense, how is it
possible to effect a fa ir distribution o f the aggregate wealth o f society with­
out thereby tending to diminish its production ; or, in a still larger sense,
how is it possible to increase the aggregate wealth o f society without there­
by, pari passu, increasing the population? And it has been a great re­
proach to Malthus, that, feeling himself unable so grapple with that great
difficulty, and overestimating the importance o f his controlling idea, as
to the tendency o f population to outrun subsistence, to which he attrib­
uted far too large a proportion of the pauperism of human society, he
cast serious doubts upon the propriety o f any efforts whatever, either by
private or public charity, to relieve the sufferings o f the poor. This was
a lamentable error of Malthus, valuable as have been his contributions
to the true philosophy o f society. While it is true that all charity which
operates as a bounty on indolence, or tends unduly to increase population,
is generally to be deprecated, there is a vast deal of charity that may be
safely dispensed without any such injurious result. The great practical
question, then, is, how is the discrimination to be made between that
poverty which should be relieved by charity and that which should not?
It may be very safely asserted that public or State authority is very little
qualified to make the discrimination, and that all public provision for the
poor must operate in one or other o f these two injurious modes; it must
either, by its liberality, operate as a premium on indolence, and a quickener of population, or it must, by its stringency and repulsiveness, operate
to deter many meritorious sufferers from applying for relief, and constrain
them, in some cases, even to choose death by starvation, rather than be
subjected to the humiliation of seeking support from the rude and re­
luctant hand of public charity. It may be as safely asserted, on the
other hand, that private charity is decidedly the very best practicable in­
strumentality for making the requisite discrimination— a charity not im­
pelled or directed by laws of human enactment, but by those great higher
laws, which operate directly on the human heart, and develop its deep
religious inspirations and moral sentiments.
Each individual in every society has a certain circle of acquaintance,
in which he is tolerably well informed as to the real condition o f the
persons comprising it, or may readily become so. Let each one, who is
well conditioned in life, make it his business to become acquainted with
all the meritorious poverty in this circle of his acquaintance, and to the
extent of his ability, to the extent of one-tenth, or even one fifth, of his
revenue, according to his means, let him contribute to its relief. Let
every human being thus seek to glorify his f a t h e r who is in heaven, by
dispensing good to his b r o t h e r who is on earth. Let this principle be
really and generally acted upon, and what incalculable benefits would it
confer on society ! Suppose, for example, that in the world’s great me­
tropolis, London, with its nearly three millions of people, or probably
five hundred thousand families, of whom, most probably, at least onefifth, or a hundred thousand, are, to a greater or less extent, proper sub­
jects for charity, while at least one-tenth, or fifty thousmd, are in affluent
circumstances— suppose that these fifty thousand affluent families, or
heads of families, should organize themselves, say by parishes and pre­
cincts o f parishes, into a noble p o l i c e o f c i i a r i t v , to act as guardians




O f the Different Systems o f Social Philosophy.

33

and protectors o f the poor, to ascertain who are really proper subjects of
relief, either temporary or permanent, and to partition among themselves
the noble privilege of ministering to their wants, so that each affluent
family, on the average, should have the happiness of maintaining, either
in whole or in part, two destitute families besides itself— then we should
witness a practical realization o f that charity which breathes indeed in
every accent of “ the meek and lowly Nazarene,” and is openly pro­
claimed in almost every line of “ the great Arabian prophet.” But, alas!
it is much to be feared that this happy realization is never to be actualized.
In order that it should be, it is necessary that the great majority of man­
kind should become, in reality, and not in name merely, good and true
Christians, or, as some two hundred millions o f the human family might
prefer to say, good and true Moslems.
There is another principle o f no inconsiderable value in social science
that is to be gleaned from the Arabians— the principle that wealth ought
to be distributed according to the wants o f individuals, rather than accord­
ing to their supposed merits or rights . This valuable principle, so diffi­
cult to reduce to general practice, the Caliph Omar, the second of the
Caliphs, or “ Successors” of the Prophet, appears to have clearly recog­
nized and forcibly set forth in his public administration. On this point,
the words of Irving, in his “ Life of Mahomet and his Successors,” may
he advantageously quoted. He says, in speaking of Omar, “ Some o f his
ordinances do credit to his heart as well as his head. He forbade that
any female captive who had borne a child should be sold as a slave. In
the weekly distributions o f the surplus money o f his treasury, he pro­
portioned them to the wants, not to the merits, o f the applicants. ‘ God,’
said he, ‘ lias bestowed the good things o f this world to relieve our ne­
cessities, not to reward our virtues. Those will be rewarded in another
world.’ ” *
There does not, however, appear to be any practicable mode o f intro­
ducing this principle generally into human society, except, as with many
other principles, by gradually infusing it into the minds of men, and in­
corporating it into their general habits. As for the force-pump opera­
tion, by which “ Fourierites,” “ Owenites,” and the like, would vainly
essay to infuse this principle, like other excellent ones, all at once, and
upon a grand scale, into all the ramifications of society, it should be su­
perfluous to remark, that, like most of their projects, it is utterly chi­
merical.
Perhaps the most feasible point for obtaining entrance for this princi­
ple into the general operations o f society, is the voluntary distribution o f
estates, either by gift or devise, for in respect to the legal distribution o f
them, it is utterly impracticable to introduce them with any degree of
success. In England, it has been the custom o f parents in devising their
estates, or otherwise distributing them among their children, to follow
the established law of descents in the country, by giving much the larg­
est bulk o f the property to the eldest son. In America, on the contrary,
as in France since the revolution, the custom has almost universally pre­
vailed of dividing it equally among all the children, male and female.
But neither o f these principles is altogether the most commendable or
* See Irving’s Life of Mahomet and his Sncoessors, voi. ii., chap, 35, p. 282, o f Putnam's Edition
of 1830.
VOL. X L III.---- NO. I .




3

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R eview , H istorical and Critical,

proper. It would be far better, both in respect to what is intrinsically
most just, and to what is most conducive to the best condition o f society,
to adopt the principle laid down by the Caliph Omar, and to partition
the property of families among the different members according to their
respective wants— giving a larger share to the females than to the males,
and, as among the males, the largest share to those who are least fitted
for business, or taking care o f themselves without the advantages of for­
tune.* How different, in this respect, are the ideas which generally pre­
vail, even in the most enlightened communities!
W hile considering the ideas embodied in the Arabian or Mohammedan
religion, which may be regarded as valuable principles in social science,
we should not omit notice of one, which, though more strictly and pecu­
liarly' religions than those which we have already remarked upon, is of
such extensively important bearings upon all the transactions o f men,
whether public or private, social or individual, that it is deserving of
consideration here and admiration everywhere. It may be regarded as
one of the noblest expressions, anywhere to be found in the compass o f
human language, of the religious principle, in its application to the actions
of men, which, as we have already had occasion more than once to re­
mark, is a highly important force in the organism o f every human so­
ciety.
A consultation being held, by the Caliph Omar, over the royal carpet,
taken in Madyn, the Persian capital, whether it should be stored away in
the public treasury, to be used by the Caliph on state occasions, or be
included in the booty to be shared, and Omar hesitating how to decide,
referred the matter to Ali, who is reported to have made this noble re­
ply :— “ Oh, prince of true believers, how can one o f thy clear percep­
tion doubt in this matter? In this world 1 othing is thine own, but what
thou expendest in well doing. W hat thou eatest will be consumed;
what thou wearest will be worn away; but what thou expendest in well
doing is sent before thee to the other world.” f
This noble reply of the chivalrous and noble-hearted nephew and sonin-law o f the prophet, may perhaps be regarded as a fair sample of the
lofty religious enthusiasm which actuated many o f the earlier Moslems.
And not improbably7 Ali had obtained the sentiment from his noble and
more gifted kinsman, the prophet himself; for we find nearly the same
idea, though more sententiously expressed, in the second chapter o f the
Koran, where the prophet says:— “ Be constant in prayer, and give alms;
and what good ye have sent before for your souls, ye shall find it with
God.” J Need we wonder that a people inspired by such noble religious
sentiments should be distinguished by such generosity and magnanimity
as the Arabians and Turks have repeatedly exhibited, or that the rude
Christian warriors of Europe, during the protracted wars of the Crusades,
should have been, in their then semi-barbarous condition, greatly im­
proved and r'efined by contact with their Saracen foes ?
* Of course it should be obvious enough, that there may be conditions o f society which would
render the introduction o f this principle highly inexpedient, and a departure from it advisable.
As every people are not fitted for the best government, even by the admission o f Aristotle, as we
have before had occasion to remark, so are every peoplo not fitted to receive those principles which
are conducive to the very best or highest state o f soeiety. It may be even that England is not yet
prepared for an abolition of the primogeniture law—perhaps she never may be.
t See Irving’s Life of Mahomet, vol. ii., chap. 28, p. 248. Putnam’s Edition o f 1850.
X See the Koran, as translated by Sale, chap, ii., p. 205, o f Philadelphia Edition o f 1833.




O f the D ifferent Systems o f Social Philosophy.

35

IV.
The condition o f the Arabians, and that o f other nations who have
adopted their religion, illustrates very clearly, and more so than that o f
any other nations, the importance o f viell organized government, and the
real nature o f the evils o f bad government. That the actual condition of
affairs in all the Mohammedan countries o f the present day is deplorable,
and presents a lamentable contrast with that of most Christian nations,
and even with that of the Chinese and Japanese, is a fact too notori­
ous to need any special verification here. The question naturally and
forcibly presents itself to our minds, what is the cause, or what are the
causes, of this very inferior condition of the Mohammedan nations ?
W hy is it, that, with a religion nearly resembling that of Christianity,
and in fact inculcating, even more forcibly than Christianity itself, many
of its most beneficent principles o f action, these Mohammedan nations
are so far behind those o f Christendom, and even behind the more ad­
vanced of those nations who possess religious systems much inferior to
their own— why is it they are so far behind them— in wealth, in indus­
trial resources, and in the general thrift and comfort of the population ?
The correct and complete answer to this question, as to all similar
ones, is only to be found in a searching analysis of a multitude o f causes,
immediate, intermediate, and remote. But, speaking in a general and
summary way, it may be answered that, while this inferior condition of
the Mohammedan nations is attributable partly, and primarily, to inferi­
ority of race, partly, and secondarily, to the pernicious influence o f poly­
gamy, which, itself the outgrowth of the race, as are other national habits
and institutions, reacts injuriously on the actual condition o f the race,
and partly, and also secondarily, to the pernicious influence o f their reli­
gion, which inculcates the pernicious doctrine of absolute predestinarianism, or blind fatalism ; it is tertiarily, more immediately, and therefore
more prominently, attributable to a deplorable and wretchedly contrived
political system.
And this brings us to remark that, while political causes, as we have
had occasion repeatedly to observe before in the course o f this review,
are not, by any means, so important in their bearings on the social con­
dition o f a people as many have supposed, and as is commonly imagined,
they are nevertheless of a highly important character. It would be a
very great misapprehension o f the scope of the ideas intended to be sug­
gested in this review, and to be more extensively and systematically un­
folded in the work to which it is designed as introductory, to suppose
that it ignores the influence of political causes, when in fact it only sub­
ordinates them to causes more comprehensive and fundamental, and aims
to assign to them their true place in the grand hierarchy of causes which
regulate the destiny o f human society.
For while it is very little that
the very best organized political government can do for the social condi­
tion of a people, let it be distinctly borne in mind that it is very little
that can be done without such government. Such a government, though
far from being, as many superficialists in Social Philosophy seem to have
imagined, all sufficient, is nevertheless indispensably necessary to the so­
cial well being of a people. The political organism o f society is to the
real life-giving principle of that society, with some qualifications, what
the body is to the soul. For nature nowhere, either in her primary or
secondary creations, (o f which latter human society is one,) develops a
principle except through an organism, and that, too, an organism con­




36

Eevieu ?, H istorical and Critical,

formable to the principle, and adapted to give expression to it.
As,
therefore, there can be no perfect man without a perfect body for his
psychological faculties, or the qualities of his soul, to act through,
so there can be no perfect state of human society without a perfect gov­
ernment, nor a very highly improved state o f society without a highly
improved form of government. Still it is not the outward form of a
man, the beauty or strength o f his person, by which we estimate his
worth or real character, but rather his soul. “ It is the mind that makes
the man,” as the old adage justly says, and to a very great extent it de­
termines the shape and configuration of the body. And so it is with the
inherent and fundamental character of a people, which not only deter­
mines the general character of their conduct and destiny, but also the
fofm of their government. Yet so intimately related are the organism
and the organic principle, the body7 and soul, in both cases, that if, from
any cause or combination o f causes, the organism or body be defective,
it will not only impair the efficacy of the organic principle or soul, but
react upon it with deleterious effect Every principle, whether of social
or individual life, must have its appropriate organism through which to
act. The courage of the lion could never be manifested through the or­
ganism o f the rabbit. Nay, the brain o f a Csesar, upon the thorax o f a
mere gourmand or sorrowful hippocondriac, would be an abortion o f na­
ture.
W e may find a somewhat striking practical illustration of the truth of
these general remarks in the condition of the Mohammedan nations, and
especially of the Turks and Persians. For while they derive from their
religion, and practically exhibit in many of their dealings, some of the
most commendable qualities o f Christians, and such as, if generally acted
upon and rendered practically operative, would insure them a greatly
ameliorated social condition, they in point o f fact exhibit a wretched
state of society, and one that is, in a most extraordinary degree, subject
to injustice and rapacity. Deriving from their religion, in short, many
principles of action which should tend to diffuse through their society
the amiability o f the lamb, the actual character of their society much
more resembles the ferocity o f the tiger. The true explanation o f this
state of things is, with little doubt, this, that there is a sad lack of that
political organism through which alone such principles as are inculcated
by their religion could find their legitimate expression, and, on the con­
trary, such an organism as essentially tends to stifle all such principles,
to develop, in their stead, those o f injustice, rapacity, and tyranny, with
all the ills which usually follow in their train.
This will undoubtedly strike the discerning social philosopher as the
most prominent o f the immediate causes of the great evils observable in
the existing social condition of the Mohammedan nations; or, in other
words, as the most prominent of those causes which lie more readily
within the reach of remedial appliances. Their governments are of that
highly objectionable class called absolute or unlimited monarchies, and
much more nearly than any other human governments merit that desig­
nation. For in point of fact no human government is an absolute or ab­
solutely unlimited monarchy, and those only are commonly so called
which do not legally or avowedly recognize any other original source of
authority in the State than the reigning prince, and which do not possess
any well defined limitations on his power. But in reality all monarchies,




O f the Different Systems o f Social Philosophy.

37

however absolute, or nearly so, are tempered and limited by some other
powers in the State; and according to the extent, the definiteness, and
reliability of those limitations upon the theoretically absolute power of
the sovereign do such governments approximate that best of all govern­
ments, for much the larger part o f mankind, the constitutionally limited
monarch}', which is so admirably illustrated in the government of Great
Britain. In all Mohammedan countries, however, these limitations are
exceedingly slight and imperfectly defined.
In the Russian monarchy the authority of the Czar is limited by the
numerous and powerful landed aristocracy of the Boyars, by the enlight­
ened public sentiment o f Christendom, and, lastly but not leastly, by the
admonitions of a highly advanced state o f knowledge. In China, the
power of the Emperor is limited by a numerous and highly influential
board ot learned Mandarins, by immemorial customs approved by expe­
rience, and the wise and hallowed doctrines o f Confucius, against which
no one in China, from the Emperor on his throne to the pedagdg'uarn
his school-room, dare seriously to offend. In Japan, the regal authority
is limited also by a numerous and powerful aristocracy, both o f wealth
and learning, by long established laws, and by immemorial usages, which
so completely bind down and hedge in the “ Supreme M ikado” that he
is, in point o f fact, almost as completely a mere puppet as the so called
“ king of England.” But in Turkey, Persia, and Morocco, the most note­
worthy Mohammedan nations, (for the Arabians have now generally re­
lapsed into their primitive nomadic state,) the government may be justly
styled, as that of Turkey has been by Chataubriand, “ an absolute despot­
ism tempered bv regicide.” It is true that the Koran is in all these coun­
tries binding authority both on prince and people; but unfortunately the
prince is the supreme interpreter o f the Koran, both for himself and peo­
ple, subject only to the hazard of regicide; and, besides, the Koran is at
best but very poor authority for the guidance of a prince in affairs of
state. It is true, moreover, that in Turkey there is an Ulema, or body
comprising the priesthood o f the State, and the lawyers, whose office it
is to interpret the law, which constitutes a sort of State aristocracy.
But this Ulema is an order of privileges or exemptions, rather than of
real powers, and constitutes but a feeble breakwater against the great
open sea of monarchical power, and under the shelter of which individual
enterprise would vainly seek to find a haven of security.
But the most deplorable feature in the political despotism of the Mo­
hammedan countries is their ignorance. Knowledge is everywhere an
excellent substitute for virtue; for, in the grand economy of the moral
universe, it is sublimely written, that M a n ’ s h i o h e s t I n t e r e s t i s ms D u t y .
Hence, all truly wise princes and rulers are just in their dealings, how­
ever little they may be inclined so to be, on moral principle— for they
know that, in the long run, “ honesty is the best policy.” Of all the
checks and limitations on the power of absolute monarchs, so called,
therefore, knowledge, extensive knowledge, true knowledge, is the most
important, extensively efficient, and useful. Herein consists one grand
advantage that the absolute monarchs o f Christendom possess over those
of Islam—-they have more extensive knowledge— knowledge of the true
principles on which governments ought to be administered, of the laws
of political economy. They know, or at least are beginning of late to
learn, that if they would promote their own interests they must seek to




38

R eview , H istorical and Critical,

promote those o f their subjects; that if they would fill their own coffers
with money, it is not by gouging or swindling their people, nor by arbi­
trary exactions framed with little regard to the rights or interests of those
by whom they are to be paid, but by fair, equitable, and fixed revenue
laws, as gently levied as possible upon an universally protected and pros­
perous national industry.
But the sovereigns o f Mohammedan countries are lamentably ignorant,
especially in matters of political science, for which, indeed, their whole
race seem to possess but little talent. They know little or nothing, in­
deed, except what is derived, or supposed to be derived, from the Koran
— a book vastly inferior to the old Hebrew Bible in the wisdom it em­
bodies, yet a book which they ‘presumptuously regard as a finality to
the human understanding, both in matters of Church and State. They
are profoundly ignorant o f Political Economy, are unacquainted with
Adam Smith, and would not appreciate or understand him, most prob­
ably, even if they were possessed o f his immortal work on the “ Nature
and Causes of the Wealth o f Nations.”
So profoundly iguorant are
they, indeed, of the true methods by which the coffers o f princes are to
be filled, that, instead o f aiming at the total abolition of all arbitrary
exactions, or attempts to raise public revenue except by fixed and equit­
able revenue laws, from an universally secured and unfettered industry,
they notoriously encourage and inculcate the principle of official rapine
and plunder, which tends most effectually to dry* up all the sources o f
revenue, both public and private.
The government in all Mohammedan countries, in fact, instead of be­
ing the protector of the people, is a vast and notorious public robber, of
whom the public live in constant terror. From the supreme Sultan or
Shah down to his most insignificant pacha, the principle extends of
squeezing out of their inferiors, not any definite sum or proportion, but
all they can exact, upon any tolerable pretext. The pachas, or governors
of provinces, on their return to court, upon the expiration of their offices,
are almost invariably called to account under serious charges o f malad­
ministration, too just most generally from the sheer necessities of their
situation, and are enabled to save their heads only by large bribes to
their courtly superiors. W ith the full knowledge that this is to be their
fate, no matter how justly they may discharge their duties, and not
knowing how soon it may be their fate, the pachas, on their part, make
good their time by robbing and plundering the people of their respective
provinces to the utmost extent o f their power.*
The consequences of this deplorable spirit of public robbery and offi­
cial rapine is a general and almost total paralysis o f industry. No man
has any adequate motive, in these Mohammedan countries, for seeking to
create wealth, whether in the shape o f agricultural or mechanical pro­
duction, except such wretched pittance as he may hope to conceal from
the government robbers. Hence a vast and general torpor stretches from
* As a practical illustration of the manner in which the petty despots, in the shape o f govern­
ors, in Mohammedan countries, play the game of extortion upon the people, it may be mentioned,
in reference to Arabia, which is far less under despotic government, or any sort o f regular govern­
ment, than other Mohammedan countries, that when Lord Valentia was at Mocha, not many year*
ago, the dola, or governor of the town, used to coniine the Jews and others known to possess
money in a close room, and lumigate them with sulphur until they purchased their release at the
price he choose to stipulate. See McCullogh’s Geographical Dictionary, title Arabia, caption
Sources oj Revenue, and authorities there cited—Yalentia, Niebuhr, and Durkhardt.




O f the Different Systems o f Social Philosophy.

39

the heart to the extremities o f every Mohammedan nation o f the present
day, under the influence of which many of the fairest and most fertile
portions of the globe, once the grand centers of wealth and population,
now appear as unproductive wastes.
This is the grand evil under which Mohammedan society everywhere
groans; and this brings forcibly into view the real nature o f the evils of
bad government, or o f those evils at least which exert an immediate in­
fluence on the social condition, as contradistinguished from those which,
by their gradual and permanent effect on the character of a people, ex­
ert a more remote influence, and may be regarded as original rather than
immediate causes of their social condition.
The real and essential nature o f those political evils which exert an
immediate influence on the social condition, is thus found to be the un­
certainty which they create— the impression which they beget in the
mind of the community, that no dependence can he placed on the action o f
the government and the stability o f its policy, the inevitable effect of
which is a wide-spread paralysis o f the national industry and enterprise.
W e are thus enabled to see that it matters comparatively but little what
the policy o f a government may be, provided only it be stable, regular,
and uniform, and that it is the ever changing policy of the political au­
thority o f a State, its uncertain and unreliable action, which it defies all
human ingenuity to make any adequate provision against, that is the
real bane of the national prosperity, in respect to political misrule—
that in short a permanent tax of fifty per cent on the total revenue of
the nation, levied annually by the government, is not so injurious as an
uncertain tax, ranging from only ten to thirty per cent.
This great truth, that the essential nature o f the immediate evils o f all
bad government is uncertainty , seems to have been very little consid­
ered, if it has not been almost totally unknown by statesmen hitherto.
Indeed, the writer o f this review has not been able to discover (so far at
least as is now remembered) that any statesman or political philosopher,
from the time of Solon down to the present day, has distinctly recog­
nized or clearly perceived, even in part, this important truth, except,
perhaps, the colossal statesman of America— Daniel W ebster; and even
he seems to have had only a partial appreciation of it, and of its exten­
sive and important applications*— a fact which will appear the less re­
markable, when it is considered that his great intellect, like that of many
other illustrious statesmen, in former as well as in later times, was oc­
cupied, during his whole life, with the practical details of statesmanship
and legal practice, rather than with the fundamental principles of polit­
ical or social science. But the practical applications of this great truth in
political science it is not proposed here to consider. These appertain
rather to the third part of the main work, to which the present under­
taking is a mere introduction, in which “ The Influence of Political
* See Webster's speech at Baltimore, delivered at a dinner on the 18th o f May, 1843, as reported
in Niles’ Register for that year, vol. lxiv., p 219. In this speech, this profound statesman used
these eminently profound and just words, with'many more o f a similar im port:—“ Depend upon
it, gentlemen, it is change and apprehension of change that unnerves every working man’s arm in
this section of country. Changes felt and changes feared are the bane of industry and our enter­
prise.” See Niles' Register, vol. lxiv., p. 221. In this speech, Webster clearly enough recognized
the vast mischiefs of uncertainty as to the policy of the political authority o f States. But he does
not appear to have carried forward the idea to all of its important applications, nor to have dis­
cerned that all, or at least very nearly all, the immediate evils of bad government are resolvable
into the uncertainty which they occasion in the minds o f men as to what action may be expected o f
the government.




40

Review, H istorical and Critical,

Causes on the Soeial Condition, or Man in relation to his Political Insti­
tutions,” will be particularly considered.
V.
The career o f the Arabians illustrates strikingly the great sociolog­
ical law, that the higher the organism o f the society, or body politic, the
more liable it is to derangement, disease, and death. It may well be con­
sidered extraordinary that the Arabians should be found to illustrate,
with such remarkable distinctness and perspicuity, so many o f the most
fundamental and important principles of social science. It might really
appear as if they had been placed there, on their great grim deserts, for
the express purpose, among others, of serving as a sort of illustrative
black board, (such as are used in the primary schools for the instruction
of youth,) on which the social philosopher might, by means of the fig­
ures sketched thereupon, by the outlines of their own history, be en­
abled to trace the demonstration o f some o f the most important theorems
in social science.
- Not only are the principles which have been already remarked upon,
in this part of our review, practically illustrated with greater clearness
and force by the history of the Arabians than by that of any other na­
tion, but so also is the one which we now come to notice. If, indeed,
the observant social philosopher lacked the reasoning power necessary
to deduce the proposition in question, either from a priori principles or
from the wide-spread analogies o f organic nature, he could scarcely fail
to discover it, when attentively observing the history of the Arabians,
where it is so clearly and prominently revealed as to be almost palpable
to the outward sense.
In observing the history of the Arabians we see a race o f people,
numbering some ten or twelve millions, thinly scattered over a sterile
area of a million o f square miles, subsisting in a state but little elevated
above the merely pastoral as to their modes o f industry, and but little
above the merely patriarchal as to their forms o f government, remaining
in this state without any noteworthy mutations of fortune, and without
any apparent symptoms of deterioration or decay, for a period of more
than three thousand years— yet shooting forth a colony of religious pro­
pagandists and conquerors, who, in a more fertile region, were quickly
developed into a much more highly organized society, abounding in
wealth and the arts o f civilization, which languished, sickened, and died,
in little over five centuries. In short, we see a race of people subsisting
with little or no change for three thousand years in the rudely organized
society which has prevailed from time immemorial on the sandy wastes
of Arabia, who, in the highly organized social state which prevailed under
the Caliphs of Bagdad, could not maintain their position as a nation over
five hundred.
The illustration afforded by this contrast between the durations of the
two different states of society is all the more pointed and perspicuous
because the two societies were composed o f the same race of people, and
were placed under like local circumstances, except that one occupied a
more fertile region than the other, thus almost totally excluding any
other conclusion, than that the difference in duration was attributable to
the difference in the degree o f organism. Had the Bagdad society been
composed of a different race of people from the Arabians, or o f the same
race o f people issuing out o f a different clime, as the frigid zone or
northern portion o f the temperate zone, into the torrid plains o f central
Asia, the illustration would have been far less pointed and unequivocal.




O f the Different Systems o f Social Philosophy.

41

Nor is much importance to be attached to the fact that the Bagdad
society was far more exposed to foreign violence, by which it was ostens­
ibly overthrown, than that of Arabia, which has ever been indebted for
its immunity from invasion to its vast sterility. For, as Hallam has re­
marked most justly, concerning the ruin of Roman literature and civili­
zation, that we must not ascribe it altogether to the barbarian destroyers
of the Empire, but rather to the gradual and apparently irretiievable
decay which had long overspread all liberal studies;* so also is it equally
true that the real vitality of the Empire of the Caliphs had departed,
long before the disastrous morning o f the 14th of February, 1258, when
Hoolaku, with his barbarous Mongols, entered Bagdad in triumph and
devastation.
This great law of social life, thus clearly revealed to us by the history
of the Arabians— the higher the organism o f the society or body politic
the greater its liability to derangement, disease, and death— appears to be
but one manifestation of the like more general law of all organic life,
although, like other laws, it has its qualifications and limitations, which,
to superficial observation, might wear the appearance of contradiction.
For we find that vegetable life has a tenacity unknown to the animal,
and the lower orders of animal life, (or very many of them at least,) a
tenacity unknown to the higher— human life, the highest and most re­
fined of all organic life, being liable to a multiplicity of derangements
and diseases, from which the lower orders o f animals are entirely ex­
empt, and requiring a far greater degree o f care and attention to pre­
serve it.
In accordance with this great fundamental law o f social life, we may
predict for a rude and simple state of society, like that of Arabia, under
given circumstances, a very protracted, if not indefinite, duration ; for a
somewhat more advanced and highly organized state, like that of China,
a shorter duration ; and for a still more highly organized state, like that
which prevailed in Greece and Italy in former times, and in Britain and
America at the present time, under like circumstances, a still shorter du­
ration.
A yet deeper observation than any o f those already made might ap­
pear to be suggested by the history of the Arabians. May it not be
considered that the great duration of Arabian society, without any ap­
parent symptoms of decay, is a contradiction of the idea, which seems
to be established by the irresistible logic of analogy, that nations, like
individuals, must die? To this question it may be replied, that perhaps
the Arabians owe their great duration to the fact that they have not had
any real organization, as a nation or society. For, in looking at the
three grand kingdoms o f nature, the mineral, vegetable, and animal, we
find that the first, which is inorganic, exhibits no symptoms of decay or
change; the gases o f the atmosphere, and the waters of the ocean, re­
maining unalterably the same for untold ages. Now, may it not be that
mankind, in the rude state in which the Arabians have existed at home,
for time immemorial, resemble rather the inorganic than the organic di­
vision of nature— that they belong to the mineral kingdom, so to speak,
of the social universe— that they constitute merely the raw material out
ot which real social organism is to be created, and consequently have no
real social life to lose ?




See Hallam’s Middle Ages, chap. ix.

42

Review o f the Different Systems o f Social Philosophy.

But a deeper observation yet remains to be considered, and intimately
related to the one last noticed. Does not the long duration of these
Arabians, without any symptoms of decay, completely negative, at. least
the idea, that the human race is destined ultimately to d i e o d t by the
operation o f natural causes, and independently o f any influences which
may be regarded as extraneous causes, such as the too great refrigeration
or torrification of the planet, or its collision with another world, or its
ignition by the too close contact of its gases with those of a comet?
For the logic of analogy does not much more conclusively pronounce
the inevitable death by natural decay o f every social organism than of
the whole human creation— the death o f every nation, than the death
of the whole human race, and all organic being. . From the undoubted
fact that every individual must die, by an established law o f natural de­
cay, the irresistible logic o f analogy seems to lead us to the inevitable
conclusion, that not only every particular social organism, but the whole
human race, must eventually die, by an established law of natural decay.
Nay, may we not still further say that, from the simple fact that the first
germ cell of organic being was destined to perish, the irresistible logic
o f universal analogy seems to deduce the inevitable conclusion that the
whole organic creation (at least as it now exists) is destined also to per­
ish ?— thus verifying the grand postulate of Fourier, that “ all things have
a beginning, a middle, and an end, in the natural course o f their exist­
ence— animals, vegetables, minerals, planets, suns, solar systems, universes,
biniverses, triverses.”
But, it may well be asked, how stands this asseveration o f the irresist­
ible logic o f universal analogy, in view of the stubborn fact glaring on
us from the sandy wastes o f Arabia, that there have flourished, for up­
wards of three thousand years, without any apparent symptoms of decay,
a race of people who, as if to make their case still more remarkable,
have intermixed with other races less perhaps than any other people, and
who have, to a greater extent perhaps than any other people, intermar­
ried within too close affinities, the only influence yet revealed by biological
science which seems to contain the germ o f the natural extinction of the
human race ? Perhaps the only reply that can be made to this question
is, the one so common with those who encounter facts too tough to be
digested by their theory, but who yet have the courage, like true philos­
ophers, to swallow them down, to take in all the facts, however unpalat­
able— that the world is as yet too young to furnish a satisfactory answer
to the question.
A t all events, a further reply to the question, or attempt at solution of
the difficulty, will not be made here.* Nor is it perhaps of any great
practical utility to consider it anywhere, since the physician or medical
philosopher does not vary his treatment of a patient at all, nor any less
zealously strive to preserve his life and health, because he knows that he
must eventually die at any rate; nor should the social philosopher, or
physician of the body politic, any less earnestly strive to prolong the ex­
istence and prosperity of a nation, merely because he has discovered the
* Those who may wish to see a further consideration of this question are respectfully referred
to the writer's as yet unpublished work on the Fundamental Principles o f Sociology, part sixth, in
which the Original Ciuses which, determine the Social Condition will be considered, and among
them the influence of the national age on tho social condition, which will incidentally involve a
consideration of the influence of the age of the kaoe , or hu m a n genus , on the social condition of
particular nations.




Valuation o f L ife Insurance Policies.

43

melancholy fact that it must, some time or other, inevitably die, and the
whole human race beside.
What has been said must suffice for the observations to be obtained
from a review of the Arabian civilization, which, according to the plan
here adopted for regarding the whole course of human development,
comprises the Medieval Epoch, or second day of human civilization, or,
in more popular language still, the Arabian Day.
The day of Arabian civilization was, however, of brief duration, not
much exceeding five centuries,, and it is remarkable that the period of its
greatest splendor corresponded with the midnight hour of European bar­
barism— a fact which would seem to indicate that the intellectual world,
like the material, has its antipodes, in which day and night respectively
alternate— although all the facts of the case do not accord with the sup­
position, as grounded at least upon the idea that Europe and Arabia are
antipodes, since we presently find them both involved, for a short period,
in a common darkness.
With the fall of Bagdad, by the conquering arms of Hoolaku and his
barbarous Mongols, on the 14th o f February, A. D., 1258, we may con­
sider the light of Arabian learning as extinguished. That may be re­
garded as the hour of s u n s e t to the s e c o n d c i v i l i z a t i o n , and from that
hour-, for at least two-and-a-half centuries, the anxious observer o f human
history may search the firmament in vain to find the s u n , although the
reddening horizon of Europe clearly indicates from what direction is to
be expected the C o m i n g D a y .

A il. II.— VALUATION OF LIFE INSURANCE POLICIES.
NUM BER III.

T h e method adopted by the Massachusetts Commissioners to deter­
mine the liabilities of life insurance offices, when applied to our Ameri­
can companies, has developed, in every case, a larger or a smaller surplus.
In soiue the excess is considerable ; in a few it is so small that any extra­
ordinary losses, or any additional requirements o f the commissioners,
would have converted their surplus into a deficiency. W e have insisted,
in the last number of this Magazine, that every cent of profit already
earned is exhibited by the Massachusetts calculations, so that if any
company cannot stand this test it is already insolvent. W e now propose
to inquire if this mode of calculation does not give the earnings too large.
Our companies are mostly mutual, and it is the duty of the directors
to distribute exact justice between the present and the future members.
What has been really earned belongs to the existing insurers, and ought
to be distributed among them without delay. W hat is not earned be­
longs to the future members, and no rivalry with other companies, no
desire for larger business, no craving for the praise of successful manage­
ment, should impel larger dividends than have been earned ; and, on the
other hand, no timid fear of the failure, no unreasonable anticipation of
future disasters, should lead to the hoarding up for possible demands what
has been really earned already, and what, therefore, belongs to the present




44

Valuation o f L ife Insurance Policies.

members. None of these feelings, or any other like them, should be per­
mitted to outweigh, on either side, the sentiment o f justice.
The whole object of the calculation is to find out what part of the
past receipts has been paid for future purposes; the balance on hand is
all that can be appropriated for dividends. If the company is mutual
this exact balance— no more and no less— should be divided, in scrip, in
cash, or in credits, to the present members. If less is paid them, they do
not receive their proper share of the profits; if more, the safety of the
company is endangered. Should there be any leaning to either side, it will
be better to favor the future members than the present, since the ulti­
mate security of the company is more important than a correct adjust­
ment of the dividends. But after the company has been fairly and
securely established, exact justice should be rendered to the old and the
new members. It is much the same with a stock company as with a
mutual. If they anticipate future profits which may or may not be made ;
if they omit, in their estimate of future hazards, any contingency which
was provided for in the original contract, the large dividends or expenses
which they may think themselves authorized to make will soon consume
their capital and leave them unable to meet their liabilities.
So also in determining the solvency of any company. The funds pro­
vided in the original contracts for future hazards or necessities that have
not yet occurred must be kept unimpaired. If they are anticipated and
wasted the company becomes bankrupt. If the contracts were very
favorable ; if the premiums agreed upon were higher than was needed
to meet all the future hazards, so as to furnish some profit, all the gains
from this source as they may cotne in hand may be divided ; but no future
expectation of profit should be discounted and appropriated for present
dividends. A present or past profit is a reality, but a future one ought
not to be anticipated and divided. A private individual does not so es­
timate his means, nor should an association do it. The future is too un­
certain to be made the support of present expenditures. The possibilities
o f failure in future expectations of profits are so numerous, and the prone­
ness to overestimate them is so great, that it is unwise to count them as
already in hand. So great has been the competition in life insurance
that they are probably small, and it is so easy to make the grossest mis­
takes in counting them, that it is best to leave them to the future. From
the day that the milk maid anticipated her future brood o f chickens, the
expectation of future gains has been deemed a subject of ridicule, and
the expenditure or use o f anticipated profits a subject o f censure.
Whatever, therefore, be the object of valuing the life policies— whether
it be the distribution of profits in a mutual or in a stock company, or the
determination of the solvency o f the office— past earnings are all that can
be counted for present use, and if more is thus appropriated the safety of
the company is at once endangered, and it becomes the State to sound
the alarm, that its citizens be not deceived and ruined.
This being laid down as the proper basis of calculation, let us consider
the elements of a whole life premium. Part of it is for the risk during
the first year, part for the risk during all subsequent years, and part for
expenses and contingencies. The last, which constitutes the loading,
ranges from thirty to forty per cent of the first two. Now, though the
first year’s expenses may be, in a well managed company, twelve or fifteen
per cent; the subsequent years can seldom be as large as ten, unless the




Valuation o f L ife Insurance Policies.

45

company is very small. Expenses o f every kind can, therefore, seldom
or never absorb one-half the loading. Of the contingencies for which
the other part is needed, the most important is a fluctuation in the mor­
tality, and the possibility of a general advance in this over the tabular
rate that may have been adopted. The Carlisle table, which is used by
most of our companies, gives a very small mortality, and the probability
of an advance on this in every company’s experience is very great. But,
even if the table that has been selected should represent perfectly that
class of which the insurers are composed, considerable fluctuations in
this may be expected among the small numbers o f which any company
is made up. The deaths among them may average ten, fifteen, or twenty
per cent above the tabular predictions. This excess may continue for
many years, and without the loading it might ruin the company. Seven
is the average number that may be expected to be thrown by a pair of
dice after many throws; but if two throws are made there is more chance
of counting ten per cent over fourteen than there is of having thirteen,
fourteen, or fifteen. With three, or with several throws, a considerable
variation from the average will be highly probable. And if this be true
of dice, much more will it be true of human life, where epidemics and
unknown but active diseases may increase the mortality o f the few mem­
bers insured to a large percentage above the average.
This liability to
excessive mortality and to fluctuations above the average, as well as other
future contingencies, explain why so large a loading as thirty or forty
per cent is added to the net premium, and as twelve, or fifteen, or twenty
is abundant for expenses, the balanee is for a risk not yet fully incurred
at the end of the first year of insurance, and a portion o f it belongs to
the reserve.
When four or five years have elapsed after the issue of a policy, the
future risk is provided for from two sources : the one, the future premiums,
and the other, a part of the past premiums. The loading on the future
premiums will pay for their part o f the future expenses and contingen­
cies, and the other share must be supplied by the loading on the previous
payments. A part, therefore, of the loading on the past premiums is yet
unearned.
Now, the net premium mode of calculation merely appropriates for
the future that portion o f the past payments which suffices to meet the
future average risk, counting nothing for excessive mortality and other
contingencies. The whole o f the loading in past payments, after meeting
past expenses, is counted as profits, whereas only a part was charged for
expenses, the other part being for the chance o f an excessive mortality
and other contingencies in the years that have elapsed and in the years
that are yet to come. A part of the hazard for which the loading is
provided being yet future, it is necessary to reserve more than is pro­
vided for in the net premium mode o f calculation.
A reference to the premiums usually charged for one year, and for
whole life policies, will show this more plainly. At the age o f thirty the
average charge for a one-year policy by the New York Life, the Mutual
of New York, and the New England Mutual, is $120 43 for an insurance
of $ 10,000. For the whole life, it is $231 40. Now, the average ex­
penses of these companies, counting all of it on premiums alone, is about
thirteen per cent, and their interest six. These two premiums, there­
fore, net them at the end of the year $112 and $215 20.
Now, what­




46

Valuation o f L ife Insurance Policies.

ever be the object o f the increased charge on the whole life policy—
whether it be for the future mortality alone, or for this and other future
contingencies, or for future profits, or for all o f these— it is evident that
the difference'— $103 20— is for the future. The excess in the second
charge is the measure o f what is paid by the second insurer for the risk
not incurred by the first, and is, therefore, a payment made for a hazard
after the expiration o f the first year. Now, the net premium mode of
calculation only gives $83 21 as the portion on hand at the end o f the first
year belonging to the future risk. The average charges ijf these compa­
nies show that about $103 20 is the proper allowance. If the premiums
for a seven years’ policy were treated in the same manner the excess
would be fully as large a percentage over the method of net premiums.
If the rate of expenses were taken as high as twenty per cent, and the
interest as low as four, the excess would be $97 65, which is still eighteen
per cent above the $83 21.
But, if any actuary should hesitate about the general appropriateness
of an addition to the reinsurance fund beyond the net cost of the future
risk, he should not hesitate a moment for any American company. The
deaths among our insured will be sure to exceed those of the English
life offices. Our climate is so variable, our seasons so liable to sudden
changes, the extremes of heat and cold and dryness and moisture are so
excessive, our cities pay so little attention to sanitary laws, our police
regulations are so neglectful of those salutarv restraints that have been
adopted in older countries, our people are so prone to remove to places
where they are not habituated to the climate— where they are ignorant
of its peculiarities, or, if informed, very ready to neglect them— our de­
votion to business is so steady and laborious, our love of gain so untiring
and harrassing, our indifference to comfort and health so marked and
universal, and our recklessness of human life so general in every part of
the country, that the mortality o f assured lives here will probably be
greater than the experience of the English life offices. Already the pub­
lished experience o f the Mutual Life o f New York, and the Mutual Ben­
efit o f New Jersey, gives a mortality for the earlier ages above the Car­
lisle or the actuaries’ tables, and although the general result at all ages is
below these tables, there is nothing to render it probable that this will con­
tinue, if we remember that these insured persons have only lived, on an
average, four or five years since they were first admitted into the com­
pany and pronounced to be in perfect health.
It is difficult to say how much of the loading ought to be counted as
a payment for future contingencies : one-third or one-half of it, that is,
ten or fifteen per cent of the net premiums is not too much. And ten
ought surely to be the minimum.
A mathematical formula, expressing this mode of calculation, is—

where a is the value of an annuity, m the age of insurance, x the age of
the policy, and p the net premiums, increased by ten per cent. The for­
mula is precisely the same for the net premium method, except that p is
here ten per cent greater.
This method is used by some of our American companies, but fifteen




Valuation o f L ife Insurance Policies.

47

per cent, and even more, is sometimes used instead o f ten. This correc­
tion is not, however, the only one needed. And for our recent American
companies, and for all who are receiving' a large number of new mem­
bers, there is another of the highest importance.
It is well known, by the universal experience of life companies, that
the mortality in the early years o f insurance is much less than afterwards.
This is especially observed in the first year, when the insured have just
been examined by the company’s physician and pronounced perfectly
sound. The influence of selection extends for several years after the first.
At the later years the mortality is higher than the average. The aban­
donment of their policies by the strong and the hearty, and the purchase
of such by the company, makes the mortality among the older members
much above the average. These two influences are o f great importance.
They indicate most clearly that it is wrong to count as earnings all the
gains that appear to be made in the earlier years of insurance.
The
mortality will be below the average at first, and the gains from this
source must be husbanded to meet the future losses when the mortality
will be above the average. That time will be sure to arrive, sooner or
later, and even if it should never come, the large profits o f the first years
being expected when the contract was made and the premium fixed, be­
long to the whole contract, and should be distributed over the whole
time.
If a fire insurance were taken in May for twelve months, as the risk is
less for the summer than the winter, half the premium is not earned in
six months. In a marine risk, if the vessel has been spoken near the
distant port whither she is bound, the underwriter should not regard the
premium as nearly earned, for the most hazardous part o f the risk is yet
to be incurred. So a life insurance company, knowing that its losses in
the first year will be small, ought not to count all the apparent gains,
from a mortality below the average, as real earnings, but should reserve a
part of them to meet future excesses above the average. Even if those
excesses shall never arrive, the first year’s apparent gains do not belong
to that year, but should be distributed among all the years.
It is no answer to this to say, that the reserve is sufficient to meet the
future mortality according to the tables; because, on account of forfeiture
by the best lives, the future losses will probably exceed the average; and
because the mortality, as made up in the actuaries’ table, is an average
of the first and all subsequent years ; and because, in making the contract,
a small mortality was expected the first year, and the premium being the
same for the whole life, is made to represent an average for the whole
time.
This point being very important, we will illustrate it still farther.
Suppose a company to insure a man at thirty, for a single premium, after
a careful and satisfactory examination of his constitution, health, and
habits. They would earn a certain portion o f the money received if the
insured should live till he was thirty-one; if he should survive another
year the portion earned would be still larger; if he should be alive at
the end of ten years the gains would increase every year. He may now
be helpless, his constitution gone, his habits ruinous; or his health may
be as good as when he first took out his policy. But this uncertainty
makes the risk at forty greater than it was at thirty, and if he survives
till he is forty-one the earnings will be greater than in the first year after




48

Valuation o f L ife Insurance Policies.

insurance, not only because he is older, but also because o f the uncer­
tainty as to his general health and habits.
Some of our companies make an allowance for this, under the name of
a deterioration o f life, and this phrase expresses not only the object but
the appropriateness o f this allowance.
The statistics furnished by the London offices, from which the actuaries’
table was constructed, give us the means o f judging of the extent of this
diminution of mortality during the earlier years of insurance. The fol­
lowing table is deduced from Mr. Higham’s discussion of these statistics,
in Vol. I. of the Assurance Magazine.
The first column contains the
chance of dying in one year, according to the actuaries’ table; the second,
the same chance deduced from the deaths during the first year o f assu­
rance ; the third, from the deaths during the second year o f assurance ;
and the fourth, from those lives in which the influence o f selection was
exhausted :—
CDANCKS OF DYING IN ONE Y E A R .

By the
actuaries’
table.

Age.

25...................................
30...................................
35...................................
40.......... ......................
45.....................................
50.................................. .
Average......................... .

.00842
.01036
.01221

During the
first year of
assurance.

During the
second year of
assurance.

.00414
.00482
.00574
.00620
.00848
,01122
.00677

.00769
.00857
.00967
.01023
.01242
.01526
,01064

Several
years after
assurance.

.00815
.00941
.01299
.01672
.01921
.02483
.01522

In the actuary’s report of the Mutual Life o f Ne w York, this experience is presented in a different form :—
Age.

First year of assurance..
Total experience to 1838.

25 —15 .
.5844
.7910

4 §.
.8872
1.1002

4 5 —55 .
1.3181
1.6140

Average.

.9299
1.1684

The regularity of these differences, the large numbers from which they
are derived, the fact that most o f them were obtained from the Equitable
society^— whore lives, not policies, were considered— make the results wor­
thy of much confidence. They show most conclusively that the mortali­
ty during the first year o f insurance is a third or a fourth less than the
average, and that in the latter years, after selection no longer betters the
probabilities of living, the chance of dying is nearly one-half greater
than the average.
The following has been furnished us by one of our American offices:—
Mortality in the first year of insurance...................................................
Expected by the Carlisle table................................................................
Mortality after the first year....................................................................
Expected by the Carlisle table................................................................

.00426
.01150
.01277
.01361

This, and other experience o f our American companies, confirms the
results of the English life offices.
After the first year the effect o f selection, though sensible, is not of
much importance. For ten or twelve years it exerts a favorable influence,
and after that the mortality is regular and far above the average. From
this, it follows that the apparent gain in the first year should be dis-




Valuation o f Life Insurance Policies.

49

tributed mainly among the last years o f insurance. As the reserve for the
first year is nearly equal to the risk for that year, being nearly half the
net premium, it is evident that an increase o f one-fourth of the first year’s
reserve will represent very nearly the saving from the diminished mor­
tality of the first year. The following formula, for calculating the re­
serve or reinsurance fund, modifies, therefore, the one before given so as
to introduce this correction for the first year’s diminished mortality ; and
as the multiplies, 1 - f a decreases slowly at first and rapidly afterwards
it distributes the saving among all the subsequent years, reserving most
of it for the latter years o f life, which is exactly what is required by the
experience of the English life offices. The formula is—
( 1 + “
\
V
m -f. x j

(P
- p
\ m -f- x

\
m —. i )

To give an example of this mode o f calculation we will use the same age
and table as before. The net premiums at twenty-nine, thirty, and thirtyseven are $171, -S175 50, and $215 40. If the policy issued at the age
of thirty had been running seven years, p for m, increased by ten per
cent, would be $193 05 \ p for m -\ -x would be $236 94, and p for
m — 1 = $188 10, and p for m — 4 = $191 81. The difference of
$191 81 and $236 94, or $45 13 being multiplied by 16,666, which
is 1 + a for 37, gives $752 14 as the correct amount needed for reinsu­
rance. The method o f net premiums gives only $664 97. The per­
centage of difference would be larger for two or three years, and less for
more than seven.
W e have not hitherto made any reference to the defective premiums
charged by some companies, and we would now remark that, unless
the rates are thirty per cent higher than the Carlisle or the actuaries’
four per cent tables, the methods above explained will not give satis­
factory and reliable results. The object of the formula is only to
determine what portion o f the past payments appropriately belong to
future risks and contingencies; but if the future payments are not suffi­
cient to meet the hazards for which they are devoted, the company’s
safety will be endangered from this source, as well as from the other.
Nor does this difficulty exist only when the whole table of rates for every
age is insufficient, but also when the premiums for particular ages are too
low.
In the rates of the “ International,” for example, the loading
ranges from 9 to 62 per cent. For those ages when the additions are
too small to meet expenses and contingencies, something must be reserved
out of capital or former accumulations to meet the deficiency.
The true table of mortality, or the closest approximation to it we can
have, should also be made tbe basis o f the calculations.
The formula we have given above is not, therefore, proposed as com­
plete, since the proper mode o f calculation must have reference to the
real premium charged, and to the approximate mortality of the assured.
The consideration o f these we will postpone for a subsequent article.
VOL. X L III.---- N O . I .




4

50

B ra zil: its Trade and Finances.

Art. III.— BRAZIL: ITS TRADE AND FINANCES.
T h e course of events is rapidly bringing the countries of the American
continents into closer connection,, and the vast empire of Brazil, with its
great resources, is, at no distant day, to contribute a large portion of our
commerce. All that throws light upon the actual position of that inter­
esting country, becomes, therefore, important to the commercial public.
W e therefore lay before our readers the accompanying translation o f a
letter which was addressed to the Brazilian Minister of Finance, in reply,
partly, to questions (which are given) addressed to the eminent firm of
Maxwell W right & Co. by the Minister, and partly to separate questions,
which do not appear, addressed to Robert Clinton W right, Esq., by the
principal law officer of the Treasury Department.
The American reader must bear in mind that in Brazil the quotations
of exchange are the reverse of those in New York, and that exchange is
said to be rising there when in the United States it would be said to be
declining. And he must not, therefore, be startled to find arguments
based upon a declining exchange which he has always been accustomed
to refer to an advancing exchange. And if he shall find any expressions
in reference to crisis which may seem to him paradoxical— as, for in­
stance, “ a crisis arising from the legitimate movement o f the foreign
trade” — he will remember that, in the view o f the writer, the crisis of
1857, which shook the world, was brought about by a half-dozen stock
gamblers in New Y ork ; that it came like a clap of thunder from a clear
sky, and was no less a phenomenon than this— that it was the result of
senseless panic, and that so long as credit shall constitute an element of
trade, it must own panic as its twin sister; that panic, owing no alle­
giance to reason, may arise with or without a cause, and therefore that it
is not paradoxical to say that “ crises may arise in the course o f the le­
gitimate movement of trade,” involving alike the prudent and the im­
prudent, those who trust to instinct and those who build on reason, in
one common ruin. It must never be forgotten that all o f credit that en­
ters into price is the subject o f collapse— the food o f panic— the only
source o f crises :—
Question 1. How are exchange operations made in the market of Rio
de Janeiro?
Answer. As regards foreign exchange, operations are made by the
offer and purchase o f bills of exchange, at a conventional usance, but
for the most part at 90 days’ sight upon various foreign markets. The
business is generally done through the agency o f brokers. It may be
observed that the quotation o f exchange in the Rio market is always
based upon the value of the money o f the country. It is the money of
the country that is quoted, which is not the ease in some other markets.
For instance, in the markets o f the United States the foreign money—
the money in which the bill is drawn— is quoted, and not the money of
the country. As a consequence, a rise or fall of exchange in Brazil and
in the United States convey diametrically opposite ideas. A rise of the
exchange in Brazil is considered favorable to the country ; a rise of the
exchange in the United States, on the contrary, is considered unfavor­
able to the country.
Question 2. What determines amongst us, as a general rule, the course
o f Exchange ?




B ra zil: its Trade and Finances.

51

Answer. The daily exchange with foreign countries amongst us, as
well as in all countries, is determined by what Baguet terms the “ bal­
ance of payments’’— an expression used by him in contradistinction from
the more comprehensive term “ balance o f trade.” By the “ balance of
payments ” is understood that sum which a city or a nation may be bound
to pay at a given tim e; and the daily course o f the foreign exchange,
that is, the daily fluctuations wlr'ch are observable, is determined by the
relation existing between the sum o f obligatory payments and the sum
o f exchange offering in the market upon foreign countries— this last
sum representing, as a general thing, the operations then effected in the
products o f the country. W hat we have stated is the legitimate basis of
the daily course of exchange, of its daily fluctuations everywhere. Nev­
ertheless, it cannot be affirmed that this is absolutely the only element
of the daily course of exchange. There enter into it, also, various moral
and speculative influences which defy any mathematical conclusion.
Drawers, as well as takers, of exchange speculate upon the future. It is
difficult, nay impossible, to form any positive judgment upon the com­
mercial condition o f a country from the daily quotation of exchange,
because it is not given to any human intelligence to embrace and estimate
all the elements— positive, moral, and speculative— by which this is de­
termined.
But, notwithstanding this great unreliability of the daily
course of exchange, all economists agree in the opinion that the exchange
— that is, its general tendency— should serve as a barometer to the in­
telligent merchant; that it should, on this account, be left as free as the
ebb and flow of the tide, and in no manner subjected to disturbance by
governmental interference.
Thus far we have been dealing with the daily course o f exchange upon
the hypothesis of a sound circulating medium, one either of metal or
which maintained a par with metal. W hat we have said is referable to
the general intelligence as to the causes which determine the course of
exchange, and it must be borne in mind that, in this case— that is, upon
the hypothesis of a sound circulating medium— be the daily fluctuations
what they may, the exchange canuot, for any great length o f time, rule
at a point above or below par, exceeding the cost o f transporting the
precious metals.
W e shall now take a somewhat broader view of the subject.
For the most part, merchants, contenting themselves with a knowledge
of the simple practice of their profession, give themselves little trouble
to fathom the science o f money, so intimately linked with that profes­
sion, and upon which depend their fortunes— the favorable or unfavor­
able result o f their enterprises. The simple practical merchant is not,
therefore, the safest counselor in matters of monetary science.
As a
general rule, the course of exchange is considered amongst merchants to
be a simple question, as depending absolutely and solely upon the rela­
tion existing between the imports and exports. There could not be a
more erroneous ooinion.
This opinion is not positively correct even when referable to a sound
circulating medium, for it is well known that, even upon that hypothesis,
money is more or less abundant according to the greater or less activity
of credit trade, and that this element of the greater or less abundance
of the circulating medium, although sound in itself, and although this
greater or less abundance may be purely relative, exercises a very mani­




52

B ra zil: its Trade and Finances.

fest influence upon the question of exchange. There is, however, a con­
sideration o f yet greater importance which is generally lost sight of.
W e refer to the fact that all cun encies, whatever may be their nature,
whether exclusively metallic or mixed— composed partly of metal and
partly of paper convertible into metal— or exclusively of paper, have
two well defined values: one, which may be termed commercial; the
other, which we shall take the liberty to style intrinsic; and this latter
denomination, in so far as it refers to paper, being somewhat forced, a
little farther on we shall explain the sense in which we have employed
the word.
The commercial value of a currency is predicated upon the daily course
or the daily fluctuations o f the exchange, and is that value which does
not admit of any disturbance by governmental interference. It is in
respect to this value o f a currency that all economists are agreed that it
should be as free and unembarrassed as the ebb and flow of the tide,
that it should serve as a barometer to the intelligent merchant. It is of
this value that we have been treating in the remarks we have thus far
made in answ er to the second question. It now1 becomes necessary, how­
ever, that we should say something in reference to the intrinsic value of
a currency.
The intrinsic value o f a currency, if of metal, is determined by its
fineness; and, if of paper, in a forced sense, it depends upon its sum in
relation to the legitimate wants of a country for a medium o f exchange,
or upon the relation which its sum bears to the amount of metal which
would circulate in the absence o f the paper.
The right to coin money is admitted in all civilized countries, wdiatever
their form of government, to be a high prerogative of national sover­
eignty. In the United States— a confederation of sovereign States— it may
be supposed that, jealous as they were of their sovereignty, at the adoption
of the Federal Constitution, they were not moved by light considerations to
invest the Federal Government with the exclusive prerogative o f coining
the metallic money of the country. It is therefore surprising the facility
with which the several States, by means of charters granted to banks of
issue, have, in effect, neutralized the high prerogative o f coinage, with
which they had so solemnly invested the Federal Government. By the
Constitution of the United States no money is a legal tender but the
coins issued by' the Federal Government. Nevertheless, for many years
after the adoption of the Federal Constitution the notes o f the various
banks established under charters from the several State governments were
received in payment of public dues by the Federal Government; and the
Federal Government was itself so far forgetful o f its own dignity as even
to condescend upon two occasions to become a stockholder in banks of
issue, chartered by the Federal Congress, and known as National Banks,
of which the notes were everywhere received in payment of the public
dues.
More recently, however, at the cost o f a very bitter experience, arising
from the great abuse of the faculty of issue, wiser views have prevailed;
a renewal of its charter was refused to the National Bank ; and yet more
recently it was ordered by the Federal Congress that all public dues
should be paid exclusively in specie, thus vindicating the dignity o f the
government and the integrity o f the National Constitution. W e ask




B ra zil: its Trade and Finances.

53

pardon for this digression, and found our request upon the importance of
showing that in the United States, the country o f all others in which the
greatest expansion has been given to the system of banks of issue, al­
though the Federal Government lost sight for a time of the wise provis­
ions of the Constitution in reference to the religious preservation o f the
standard of value, it found itself ultimately constrained to recognize the
necessity of fulfilling its obligations. It would not be possible, at least
our pen does not claim the power to paint, even feebly, the afflictions,
the horrors, the terrible evils which, during the last seventy years, have
emana'ed, in that flourishing and giant country, from the detestable sys­
tem of banks of issue— in that country, giant and flourishing by virtue
of its great natural advantages, in virtue of tbe active and enterprising
genius o f its people, by the mercy of God, and in despite of banks of
issue.
Great Britain has passed through an experience, in her monetary es­
says, none less bitter than that o f the United States; and also found her­
self under the necessity o f restricting the issue power. It was her good
fortune that her constitution enabled her great statesman, Peel, upon an
opportune occasion, to make a radical reform— a reform that should
guaranty to her as far as possible, so long as issues were permitted to
banks at all, the preservation o f her standard of value. And it may be
asserted, without fear o f contestation, that Sir Robert Peel, by the re­
form of 1844 in the charter of the Bank of England, established the best
system of mixed currency which, up to that time, had ever been known,
and which, so far as regards the mixed system, does not really appear to
be susceptible o f any improvement.
The system of Peel was, without doubt, considered by economists as
the ne plus ultra of monetary systems up to the crisis of 1857. That
crisis, however, demonstrated that neither the mixed system of Peel—
perfect although it might be— nor tbe purely metallic system of Ham­
burg— this latter the realization of the dreams o f the ultra-conservative
economists— offered any guaranty against panic; and in some general
observations, which we shall have the honor to present, after having dis­
posed categorically of the questions which have been addressed to us,
we shall set forth humbly, and with all due deference, our views upon
what seems to us a possible improvement upon the systems o f Peel and
of Hamburg. In the meanwhile, however, we maintain, as o f the most
rigorous duty of all governments, as of the utmost necessity, o f the
highest social and economic interest, the religious and most scrupulous
preservation of the standard of value. Fiat justitia, ruat coslum. What
judgment would be formed o f the statesman who should propose seri­
ously to frank to each shop-keeper the making o f his measure of the
vara and covado o f such length as his good pleasure might indicate; to
the grocer the determining o f how many ounces his pound weight should
be? Certainly every one would say that such a statesman was not in his
right mind, and would consign him to a mad-house. This privilege to
the shop-keeper and to the grocer, although it involves so much injustice
that no honest man could hesitate, for one moment even, to stamp it as
monstrous, be it noted, affects only a comparatively limited class o f daily
transactions. How, then, should we qualify the franking to banks of
issue of the faculty o f depreciating or appreciating, at their good pleas­
ure, the standard of value o f a country, the basis, as this is, of all the




54

B ra zil: its Trade and Finances.

transactions amongst men ? Nevertheless, this is done, and with a readi­
ness and inconsistency altogether inconceivable to a reflecting man.
Having, by a sufficiently wide digression, sought to inspire all the im­
portance, with which it presents itself to us, of the scrupulous preserva­
tion of the standard ot value, we will now pass on to the application of
what we have said to the question of exchange. W e have stated that it
is the general opinion that the course o f exchange is a simple question,
depending entirely upon the relation between the imports and exports,
and that there could be no more erroneous opinion. W e now give it as
our opinion, that the course o f the exchange is quite a complex question,
and not a simple one, and that, besides the various moral or speculative
influences hereinbefore referred to, there enter into this question two
positive and legitimate elements:— One, “ the balance o f payments”
equivalent to the external or foreign obligatory commercial debt at a given
time. The other, the intrinsic value o f the currency. And from the
operation o f this latter element, it may be predicated, that a long dura­
tion of a rate of exchange below par demonstrates incontestably redun­
dancy, and consequent depreciation of the currency. For, as the tendency
o f the exchange, when redundancy does not exist, is always towards the
equilibrium or par, the absence o f this tendency, for a long time, being
observable, leads necessarily to the conclusion that the currency is re­
dundant. And, as our foreign exchange has now for more than two years
continued to rule below par, there should be no doubt that this arises
from the redundancy of the currency, and consequent depreciation o f the
standard of value.
Various phenomena are presented in connection with the course o f ex­
change. It was remarked some time since, that at a time anterior to the
crisis of 1857, the Bank of Brazil maintained a circulation much in ex­
cess of that which has been attained by all the banks together since the
date of the crisis,and that at the same time the foreign exchange ruled
above par. That such was the fact, there is no doubt, but it w'as a
phenomenon, and a phenomenon due to a senseless competition for the
products of the country, which resulted in the ruin of many houses en­
gaged in the foreign commerce of the country. And the decline which
subsequently occurred was precipitated only, and not caused by the crisis
of 1857— it was caused by the excessive issues o f the Bank o f Brazil, and
must have occurred, sooner or later, although there had not been any
American crisis. W e repeat, the decline o f the exchange at the close of
the year 1857 was precipitated only, and not caused by the crisis, and
would have manifested itself in time, irrespectively o f that crisis.
Question 3. What was the cause of the decline o f the exchange
amongst us at the period in which this event has occurred, and especially
in the years 1857 and 1858?
Answer. W e understand this question to refer to important variations
in the exchange, and to its continuance for a long time below par, and
not to the mere daily fluctuations. Thus understood, we give it as our
opinion, that upon every occasion when an important decline o f the ex­
change has occurred amongst us, the exchange continuing for more than
a year below par, it was due principally, if not altogether, to a redundancy
and consequent depreciation of the currency. And, at the period more
especially referred to, it arose from the great expansion in the issues of
the Bank of Brazil, and other banking institutions of the country exercis­




B ra zil: its Trade and Finances.

55

ing the issue power. In our opinion this excess or redundancy continues,
and we see as its inseparable, infallible concomitant depreciation. It is
thus, and thus only, that the continuance of an exchange below par can
be explained. Let this excess o f the currency be removed, and there is
nothing more certain than that the exchange will immediately rise to par.
But whilst we maintain it to be the imperative obligation of all govern­
ments, never to permit any disturbance of the standard of value; once
that this shall have occurred, once that the standard o f value shall have
been depreciated, be the origin of the evil what it may, let it arise from
excessive issues by the government itself, or by banks o f issue, we could,
by no means, counsel violent measures for bringing the currency back
again within its normal limits. Whatever measures may be employed
for this purpose should be mild, but once adopted, they should be enforced
with the most religious exactitude. There is nothing more prejudicial to
all interests, than any uncertainty in reference to the future of the
monetary system o f a country.
Question 4. A t this latter period did there occur in our market any
shock or panic, in consequence o f the commercial crisis in the United
States, and which spread to Europe? W hat was the effects of that shock
or panic, the number of failures which it produced, and the amount of
the losses which result therefrom, the number and amount o f the failures
which have occurred from that time to the present?
Answer. There certainly did occur a great shock to our market as a
consequence o f the crisis of 1857. The great decline in the prices of
our products in foreign markets, caused the ruin of many houses engaged
in the foreign trade of the country, and some o f these houses carried
along with them others connected with them, but which were not directly
interested in the foreign trade. So great was the collapse of credit, that
many bouses which were doing business on credit, although not only sol­
vent, but possessed of large capitals, not being able to command these at
the moment of necessity, found themselves in a great strait. W e esti­
mate at about thirty millions of milreis the total amount of all the failures
which occurred at Rio de Janerio, in consequence of the crisis of 1857 ;
and of this sum, perhaps not more than fifty per cent, at the outside, will
be collected ; there thus resulting a loss o f not less than fifteen millions
of milreis to the creditors. Nor let it be supposed that the losses o f Rio
de Janerio stopped here. Rare, indeed, was the house, whether employed
in the foreign or domestic commerce of the country, which did not suffer
loss, and, in our opinion, the amount o f the losses, made known to the
public through failures, should be considered insignificant in comparison
with that larger one of which little or nothing is known.
Question 5. Is the course of the exchange always determined by the
inequality between the imports and exports ?
Answer. Certainly not. If the integer of the currency be at its norma,
there existing no circumstances to invite the interposition of moral or
speculative elements, then it may be said that the course o f the exchange
is determined by the inequality between the imports and exports. It
cannot be doubted however that, notwithstanding the interposition of
moral or speculative elements, the average rate of exchange for a period
of ten years, would be determined by the relation between the imports
and exports, it being, however, always understood that the value o f the
currency should meanwhile suffer no variation through badly advised
diminution or increase of its volume.




56

B ra zil: its Trade and Finances.

Question 6. Do bill drawers always limit tlieir exchange operations
by the cost o f the merchandise which they export, or do they make legiti­
mate operations on credit drawing in advance o f their shipments, or
upon letters of credit for their correspondents ?
Answer. Bill drawers do not always confine themselves in their exchange
operations to the true or positive basis of their shipments. They make
legitimate operations on credit, speculating, now upon the future course
o f the exchange itself, now upon a probable fluctuation in the export
market. In the same manner bill takers speculate upon the course of the
exchange, now remitting in advance o f their collections, now in advance
even of their sales; and upon other occasions, remitting large sums at a
high exchange, that the proceeds may be returned to them in metal, or
when this may not be, that they may serve as a basis for their own drafts
should such a fluctuation occur as to favor this operation.
Question 7. Has there existed any combination amongst bill drawers
to bring about a rise or a fall of the exchange ?
Answer. W e are not aware of any such combination. It would be im­
possible that any such combination could, o f itself, for any length of
time, maintain an exchange above or below the par. It could not impede
or obstruct the free course of exchange, in opposition to the law o f sup­
ply and demand.
Question 8. Can the decline o f the exchange which has occurred from
1857 up to the present date, be attributed to the excessive issues of the
banks? If yea, did it occur immediately and without the concurrence of
other causes?
Answer. It is our opinion, that the decline o f the exchange at the
close of the year 1857, should be attributed 'primarily to the excessive
issues of the Bank o f Brazil, its branches, and other banking institutions
exercising the issue power. That the decline which then occurred, was
precipitated by the great crisis o f that period, we do not deny, nor do we
deny that the decline was much aggravated by the great shock or panic
which then occurred in the market of Rio de Janerio, and which, whilst
it diminished the resources o f country, through the great depreciation of
its products, increased at the same time the necessities of those who had
obligations to meet in foreign countries, upon which the effects o f the
crisis were also weighing, inducing every effort to hasten as much as
possible their remittances.
Already, in answer to the second question, we have referred to a phe­
nomenon which occurred in the year 1857, at a period antecedent to the
manifestation of the crisis. A t that period the Bank of Brazil maintain­
ed a circulation larger in amount than has been reached at any subse­
quent period, and the exchange, nevertheless, was sustained at a point
above par. The explanation of this phenomenon is to be found in the
abnormal condition o f trade at that time. By force o f the redundancy
o f the currency, to which was superadded an inordinate and gambling
competition, exorbitant prices for the products of the country were main­
tained— prices which were not justified by those prevailing in any con­
suming market. And as the external or foreign commercial debt of the
country is not estimated in foreign money, but in the money of the coun­
try, so long as it was possible to obtain for the products o f the country
an amount sufficient to meet the cost o f what was bought from the for­
eigner, this cost being estimated in the money o f the country, the depre­




B ra zil: its Trade and Finances.

57

ciation of the currency, although in fact existing, did not necessarily mani­
fest itself; at least up to the period of the crisis the progress which had been
made in the depreciation o f our currency, so far as described from the
quotation of exchange, was unknown. The discovery was, however, none
the less certain because deferred. It was a question of time simply, and
had the American crisis never occurred, we should, infallibly, have had,
and that within a very short tipie, a Brazilian crisis. For, it was impos­
sible that the export of the products of the country could have continued,
always with loss, and the senseless career of those engaged in this branch
of trade once arrested, the same effect would have been manifested as that
which was produced by the American crisis, to w it: a suspension of ex­
ports, an accumulation of the products of the country, for which there
would have been maintained, by force of the redundancy of the currency,
prices, which, estimated in foreign money, at the par o f exchange, would
not admit o f their being exported, and, as an infallible consequence, to
promote their exportation, it would have become necessary to recognize
the depreciation o f the currency, and there would then have been estab­
lished a rate o f exchange, below the par, corresponding with such depre­
ciation.
Question 9. Did the bills o f the extinct banks, Commercial and Brazil,
established on the 10th December, 1838, and 12 th October, 1808, and
those of the provincial banks, as well as those of their respective branches,
circulate as promissory notes before and after maturity ? Did this occur
also with the bills having less than ten days to run ?
Answer. As regards the bills of the “ Commercial,” we reply affirma­
tively, and the same may be said of the bills having less thau ten days
to run. But it must be borne in mind that those bill had a very limited
circulation, entering only into the more important transactions, and that
they never circulated, properly speaking, as bank notes, they never had
a general circulation, never substituted, in all transactions, the govern­
ment issues.
Question 10. Was the rise in the price of coin owing to the redundan­
cy of bank issues ? If to other causes, what were they ?
Answer. It is our opinion that the rise in the price of coin is due purely
and solely to the redundancy of the currency, proceeding from an exces­
sive issue o f bank notes, in combination with the pre-existing government
issues.
BANK COMPETITION.

In the United States, where the principle or operation of bank compe­
tition may be most closely studied, there is no doubt that the final result
of their conflicts has manifested itself in the substitution o f the notes of
one bank by those o f another. But these conflicts culminating in a
crisis, are suspended only momentarily, to be renewed with the reappear­
ance of confidence. It is a perfect game, in which all the private interests
of society are put at hazard; and in no wise should it be supposed that
bank competition offers any guaranty against a redundancy of the cur­
rency, against an abuse o f the issue power by banks. A t various times
this matter has been the subject of rigid investigations before committees
of the British House of Commons, and from the result o f these investi­
gations we gather that the Bank of England, possessed as it is o f a giant capi­
tal, and exercising in money matters a Herculean power, has never been




58

B ra zil: ils Trade and Finances.

able to control absolutely the monetary movement o f the country. And
if this be so in reference to,the Bank of England, where should we hope
to find a different result?
DIRECT OR INDIRECT INFLUENCE OF BANK EXPANSION AND CONTRACTION.

Banks certainly do exercise a most important influence, as well direct
as indirect, upon the sum of transactions, in the rise or fall o f the
prices of merchandise, and upon the course of exchange. An expansion
of the circulation signifies an increase of the currency, and by the law
of supply and demand, the currency being rendered less valuable by this
increase, everything which is exchanged for it increases in prices in the
proportion of the depreciation. On the other hand, a contraction of the
circulation signifies a decrease o f the currency, and by the law o f supply
and demand, the currency being rendered more valuable by this decrease,
everything which is exchanged for its decreases in price in the proportion
of its appreciation. W e may hence infer the direct action of a bank ex­
pansion or contraction, and if the influence o f the bank movement were
limited to this direct action— if it were in the direct proportion simply
of the expansion or contraction— it would be less baneful. Unfortunately,
however, this is not so. The indirect influence of expansions and con­
tractions of banks of issue is so injurious that, o f itself, it should be suf­
ficient to banish them forever from intelligent communities.
An expansion began, there arises amongst all classes, and especially
when the expansion is sudden and rapid, a species of delirium ; credit as­
sumes proportions o f extraordinary development, inconsiderate engage­
ments become the rule, and all in the conviction o f an indefinite contin­
uance of the millenium o f bank expansion. The poor faithful! Disap­
pointed h op e! The expansion, as an infallible consequence, stimulating
all prices, as well of the products of the country as of foreign merchan­
dise, provokes an unbridled importation, whilst repressing the export
trade. It is not long before the importer knocks at the bank-door for
metal with which to make his remittances, seeing that the marvelous ex­
pansion maintains prices so disproportionable for the products o f the
country that they cannot be exported without a certain loss— the pro­
ducts o f the country cannot be exported, and, as a consequence, there
are no bills of exchange. For this reason the importer finds himself
obliged to export metal. W hat do the banks do? Alarmed, they refuse
discounts precisely at the moment at which their previous action has ren­
dered them the most necessary, and, not content with this, they increase
the rate of interest, (not in the United States— for there, fortunately, this
power has been denied to them,) and to that delirium o f joy which was so
recently witnessed there succeeds consternation— a general panic— and
from all sides is heard the cry of, Sauve qui pent. The hearts of men
are converted into stone, the very foundations of morality are under­
mined, fraud and bad faith appear in ever}' form, and the world, awhile
since so smiling that it seemed to be realizing the true millenium, is con­
verted into a very pandemonium. It is scarcely necessary to observe that,
having thus presented the reverse of the picture, there may be seen there
painted the effects o f a contraction.
There are not wanting economists who believe they have found, in an
increase o f the rate of interest, a corrective of the over-action o f trade.
W e do not share this opinion, but, on the contrary, consider it a pure




B ra zil: its Trade and Finances.

59

cruelty, without plausible excuse. The experience of the Bank of Eng­
land has demonstrated, at least in the view o f intelligent economists, its
entire futility.
THE TRUE THEORY OF EXCHAN GE.

In the reply which we had the honor to make to the second question,
we somewhat enlarged ; but, that we may be well understood, we desire
to submit some further reflections upon what constitutes, in our judgment,
the true theory of exchange.
The basis principle of monetary science was enounced by Adam Smith
nearly a century ago. That profound philosopher seized, as if almost by
intuition, upon the great truth, the basis of all logical or philosophical
deductions with reference to the science o f money. The principle emit­
ted by Smith is— “ That it is impossible to maintain in any' country a
paper circulation, at the par o f metal, greater than the amount of metal
which would otherwise circulate in such country if there existed no paper
in substitution of it.” The able Condy Raguet devotes a chapter o f his
work to the illustration of this principle, showing the process and the ope­
ration of the substitution of paper for metal.
From this principle, as Raguet well demonstrates, we deduce that, in
an emission of paper money, we can never exceed the limits of the metal
which would circulate in the absence of the paper without producing de­
preciation, and it may be considered an axiom of the science o f money,
that “ redundancy and depreciation, in reference to metal, are convertible
terms.”
This being the case, and the true basis of the par of exchange between
the two countries being the faithful maintenance of the relation between
current money and metal, the fluctuations of the exchange above or be­
low par, in this case, can never exceed, for any length of time, the cost
of transporting metal. What, then, is the conclusion which should be
deduced from the suspension of this infallible law o f exchange? In our
judgment, the exchange continuing for a long while, however little, below
the par, demonstrates, without possible refutation, redundancy and the
consequent depreciation of the currency. And this conclusion is the more
striking when it is known that, amongst those who have given themselves
the trouble of studying this question, however superficially, a permanent
unfavorable balance of trade is a solecism— an impossibility ; that the
rigorous law of all foreign trade, involving imports and exports, is, “ the
active pursuit of the equilibrium;” this law becoming yet more rigorous
when, from any overtrading or misfortune in the way o f short crops, a
country may have lost its metal.
This is, in our opinion, the true theory of exchange. In reference to
the fluctuations within the limits of the commercial value of a currency,
and the causes which produce them, we have sufficiently enlarged in our
answer to the second question.




60

Japan : ils Resources, Trade, and Currency.

Art. IV.— JAPAN: ITS RESOURCES, TRADE, AND CURRENCY.
A R R I V A L OF A M B A S S A D O R S — C O U R S E O F M O D E R N T R A D E — S I T U A T IO N O F J A P A N — S I Z E — P O P U L A T IO N —
D I V IS IO N S — S U R F A C E

OF

T IIE

C O U N T R Y — A G R I C U L T U R E — P R O D U C T IO N S — M I N E R A L S — M A N T F A C -

T U R E S — L A R G E C A P IT A L — I T S I G O Y A — IN L A N D C O M M E R C E — D I S C O V E R Y — D U T C H I N T R IG U E S — B R I T I S H
A T T E M P T S — A M E R IC A N M IS S IO N — P E R R Y ’ S A R R I V A L — T R E A T I E S — E N G L IS H T R E A T I E S — L O R D E L G I N
— EM BASSY

TO

T R A D IT IO N

ADVERSE

U N IT E D
TO

STATES— M R.

A L C O C K — G O V E R N M E N T O R G A N IZ A T IO N — FE U D A L P R IN C E S —

T R A D E — N O N -I N T E R C O U R S E — M U L T I P L IC A T I O N

OF T R E A T I E S — R E L A T I V E

V A L U E OF M A T A L S — T R E A T Y S T IP U L A T I O N S O F L O R D E L G I N ’ S T R E A T Y — E F F E C T

U PON

CURRENCY—

E M B A R R A S S M E N T OF T H E G O V E R N M E N T — E X P O R T OF G O L D — L O C A T IO N OF M E R C H A N T S — Y O K U H A M A
S U C C E S S OF T H E L O C A T IO N — T R A D E — S T A T E O F G E N E R A L E F F O R T S .

T h e arrival o f the Japanese ambassadors in this country with the
treaty for ratification marks a new era in the commerce of the world,
and one which may be productive of great advantages in the future. In
the rapid progress of modern industry it has been the case that most of
the nations o f Eastern Europe and of North America have come to rival
each other in almost all the products of manufacturing skill, and while
communication and information are prompt and free, a degree of perfect
liberality in respect o f new inventions and processes has taken the place
of that extreme jealousy which formerly guarded every petty trade se­
cret from prying eyes, and which caused the arts to languish for so many
ages. Each nation is able, or nearly' so, to supply itself with all the
comforts luxury required in the way o f manufactures. The common want
o f all has come to be raw materials and raw produce, which the prolific
soil of tropical climates gives in the greatest abundance. Hence, inter­
course with those nations has become o f more general importance. Chi­
nese exclusiveness has been partially broken down, and events have now
brought the hitherto little-known empire o f Japan within the range of
commercial intercourse, and European nations flock round the astonished
tycoon in increasing numbers. The Empire Zipangu, or sunrise king­
dom, is formed of a group of islands, lying between lat. 31° and 49° N.,
and long. 129° and 150° E. It is bounded north by the Sea o f Okhotsk,
east by the Pacific, south by' China Sea, and west by the Sea o f Japan,
and is distant 5,000 miles from California, and 420 from China. The
islands were discovered in 1542 by the Portuguese Governor o f Molacca,
who was driven thither by a storm. The chief islands are Sikokf, Kiusiu,
and Niplion, the last named being the largest island of the world, having
an area of 11)0,000 square miles, and being 900 miles in length by 100
in average breadth. The whole number of islands is about one thousand,
and the area of the empire 170,000 square miles, or nearly equal to the
New England States, with New York, Pennsylvania, and New Jersey.
The political distribution is, 8 divisions, 68 provinces, and 622 districts, and
the chief cities are Jeddo, the seat o f government, Miako, and Osaka, in
Niphon ; Nagasaki, Saga, Kokura, and Toa Kanabe, in Kiusiu; Simoda,
Kotsi, Takamatsu, and Matsugama, in Yesso. The people are Mongolian,
and their numbers are estimated at 40,000,000, assuming the same dens­
ity as China. Nothing is known, however, upon the subject. The rocky
coast is indented with bays, and subject to gales and fogs. The face of
the country is mountainous, giving birth to numerous rapid streams—
none of great length. Rain is abundant, and is aided by systematic ir­
rigation, conferring great fertility upon the soil, which is not allowed




J a p a n : its Resources, Trade, and Currency.

61

much rest, since a law exists that land remaining unused for more than
a year becomes forfeited to the public. Under such a rule the land is
put to its proper use, and husbandry occupies all the valleys, climbing
the ridges of the hills, until the useless plow is supplanted by hand labor
on terraced slopes. The summer heats rise as high as 100°, and the
cold of winter is frequently lower than the freezing point.
The intervales, or bottom lands, are in constant cultivation, and in the
southern portion of the empire yield two crops annually, one of summer
and one of winter grain. These bottoms are naturally level plains, or
made so artificially. The great staple o f the empire is rice, and wher­
ever irrigation can be made available the land is planted with it. The
accessible portions o f rising ground and hills, as they recede from the
plain, are graded, or if possible leveled, and planted with such vegetables
as do not require moisture beyond what is usually supplied by the rains
alone. Next to rice, tea is o f the most importance, it being the almost
universal beverage of the people.
Each family, or laborer, seems to have an allotment, divided from those
adjbiping by only a furrow, or even an imaginary line drawn from one
landmark to another. These are all very small, apparently containing
from half an acre up to two acres. The preparation of the land for the
crops Isj principally by hand. The implements are nearly all of wood.
Theij'fofw has the point shod with iron, but hoes and harrows are entirely
made of the former material. The plow is not large, and is used only in
light/foil. A single bullock or horse is attached and driven by one man,
whj/e another holds the plow. The same is true of the harrow, which
•is'used to reduce the soil to a perfect pulp, preparatory to transplanting
rice shoots, wlireh a'-re'treated i‘n the samet wrfy as in phiUa and other
countries where it is«cultivated!'- -AlMhe'ir eropS'appear to be planted in
drills, the distance between them being about a foot, and watered with
liquid manure, which is collected in vatsior oils,'dug at suitable intervals
on the side o f paths a n d ‘roads, 'and covered by light thatched roofs,
which exclude too much heat and prdvefrt. excessive evaporation. In the
region of Simoda, wheat and barley reach their maturity in April, and
are harvested in June. No cotton or sugar-cane was noticed, but nearly
every7 other production with which we are familiar in our climate was
found, including potatoes, corn, fruits, and tobacco of a mild quality.
The mulberry tree is cultivated in great abundance, both for the pur­
pose o f rearing silk-worms and the manufacture of paper. This last ar­
ticle is used in the greatest quantity, and made available for innumerable
purposes. It is made from the inner bark o f the tree, and is of every7
degree of thickness and fineness, from a stout, strong article, down to a
delicate silk-like texture. Much o f the finer kind is beautifully stamped
with figures, and portions with colored designs, like our muslins. The
coaser sort serves for pocket handkerchiefs, and the finer is pasted upon
frames to make light-shades. It enters into the structure of every house.
It is fixed to large, light, sash-like frames, which extend from the ceiling
to the floor. These are placed in grooves, along which they slide upon
little chinaware wheels. In many houses they form most of the parti­
tions, and by removing them, or replacing them, the apartments may be
enlarged or diminished at pleasure. When used for the outside walls,
they answer for windows, and the paper is protected from rain by the
roofs projecting in the form of a portico. It also answers the purpose




62

J a p a n : its Resources, Trade, and Currency.

o f strings. A piece o f the thicker sort is cut into narrow strips, rolled
once or twice between the hands, making a stout and strong cord.
The products of the soil, as well as other valuables, are kept in store­
houses built of a material that will withstand fire, and finished on the
outside to a hard smooth surface like walls made of plaster o f Paris.
They are but one story in height, but large and commodious; their size
averaging about fifty by twenty-five feet, with a fire-proof top, and the
■whole covered from the weather by light wooden roofs.
The mineral wealth o f the empire is represented as very great. Gold,
silver, copper, lead, quicksilver, coal, sulphur, salt, and iron to some ex­
tent. Marco Polo, in 1298, says the Japanese have gold in the greatest
abundance, its sources being inexhaustible; but its export is prohibited.
These metals are the material of many manufactures, but the relative
scarcity of iron makes its value nearly as great as copper. Many of the
manufactures of the country are carried to great perfection. The lacQuering of wood has long been famous, as excelling all other nations;
cotton and silk goods are well made, and glass in all its branches o f
manufacture is carried to a great perfection, but singularly has never been
applied to mirrors, which are of polished steel. Their swords are o f the
same material, and unequaled in quality. Paper of the mulberry tree is
used for all purposes— writing and printing, and also for wrappers, and
as handkerchiefs. In die sinking and carving, they are very proficient.
There exist also tobacco factories, distilleries, and breweries on a large
scale. Miako is the chief seat of manufactures for damasks, satins, taf­
fetas, and other textile fabrics. A t Osaka cotton goods and iron ware
are mostly made. The power o f adaptation is great, and every species
of Europeap/ptoHu'di is speedily reproduced. •A nati ve-factory produces
Colt’s revolvers' .arid '.SbVp.V rifles, and on^tergC concern has already
built a screw steamer, jvhich plies between Jeddo and Nagasaki without
European assistance. 1-The;'internal ttrade 6f "the country is very active.
Many o f the merchants are -po“?sfessed of immense capital, and carry on
the most extensive trade. A srlk mercer of Jeddo was described in 1806
by the president o f the Dutch,factory as follows:—
“ There is a silk mercer here named Itsigoya, who has shops in all the
great towns throughout the empire. If you buy anything o f him here,
and take it away to another town, and no longer like it, you may return
it if undamaged to bis shop there, and receive back the whole sum paid
for it at Jeddo. The wealth o f this man is astonishing. During my
stay at Jeddo there occurred a tremendous fire, that laid everything in
ashes over an area of 3 by Ij- leagues. Itsigoya lost on this occasion,
besides his shop, a warehouse containing upwards o f 100,000 lbs. o f spun
silk, which loss fell altogether upon himself, the Japanese knowing noth­
ing of insurance. Notwithstanding this he sent forty of his servants for
assistance during the fire. The second day after the fire he began to re­
build, paying every carpenter ten shillings sterling per day.”
There are no restrictions upon inland commerce o f any nature, and
interchange is promoted by great fairs held at Miako. The external
commerce has never been great. It has been confined to the Chinese
and Dutch. After the discovery o f Japan by the Portuguese, but little
progress was made in intercourse until about 1550, when great efforts
were made by the priests to convert the people, and with such success
that one-third o f the people are said to have become Christians. This




J ap a n : its Resources, Trade, and Currency.

63

awakened the ire of the government, which caused all the priests and
their converts to be massacred. The Dutch were accused o f having in­
stigated the murders ; at all events, they enjoyed the fruits of it, in being
the only nation subsequently allowed to trade therein. In 1613, the first
English vessel arrived at Japan. It was in the East India Company’s ser­
vice. The captain, Saris, obtained liberty for the English to trade, but
the results were not important, and they were again subsequently ex­
cluded through the opposition of the Dutch. In 1673, the East India
Company made an effort to revive the trade, and vainly expended £55,000
with that object. The Dutch enjoyed for two centuries a monopoly of
the trade at their factory at Firando.
In 1852, some American seamen were wrecked on the coast of Japan,
and being harshly treated Commodore Perry was dispatched thither to
demand protection for distressed seamen, and to negotiate, if possible, a
treaty by which American vessels should be allowed to enter one or more
ports to obtain supplies and for purposes of trade. In February, 1854,
seven American ships under Perry entered the bay o f Jeddo, and March
31, a treaty was agreed upon, dated at Kanagawa, although signed at
Yokohama, a neighboring village. By this treaty the ports of Simoda
and Hakodadi were appointed for the reception of American ships, and
protection and assistance were guarantied to shipwrecked seamen. Lib­
erty to trade, under certain restrictions, was also granted, and American
consuls permitted to reside at Simoda and Hakodadi. In the following
September Sir James Stirling with English ships entered the harbor of
Nagasaki, and concluded a treaty between Japan and England, by which
Nagasaki and Hakodadi were opened to foreign commerce. The Rus­
sians subsequently made a treaty, November 9, 1855. June 17, 1857,
a new treaty was made on behalf of the United States by Townsend
Harris, United States Consul-General for Japan, by which the port of
Nagasaki was also opened to American trade, and additional privileges
granted to American merchants. In 1858, Mr. Harris, having reached
Jeddo, negotiated a third and still more favorable treaty on behalf of
the United States. In the same year the Earl of Elgin, British ambas­
sador, arrived at Jeddo, and, August 26, concluded a treaty, by which
the ports of Hakodadi, Kanagawa, and Nagasaki were opened to British
subjects after July 1 , 1859 ; Nee-e-gata, or some other port on the west
coast of Niphon, after January 1 , 1860, and Hioga after January 1,1863.
Various commercial privileges were also obtained. Soon after, the reign­
ing tycoon suddenly died at the age o f 31, and was succeeded by the
present emperor, who is represented as of very liberal commercial and
political opinions.
Pursuant to these proceedings, an embassy from
Japan was dispatched to the United States, leaving Jeddo, February 22,
1860. Their arrival at Washington, with the ratified treaty, was marked
by flattering demonstrations.
Under the stipulations of the treaties made by Lord Elgin and Mr.
Harris, the new trade regulations came into force July 1 , 1859, at which
time Mr. Alcock had arrived at Nagasaki in the character of British
Consul-General and Minister Plenipotentiary, and established Mr. H odg­
son as Consul at Hakodadi. Mr. Alcock proceeded to Jeddo, where the
exchange of treaties took place in an impressive manner. The develop­
ment of trade under the force of treaties encountered some difficulties
from the nature of the Japan government. That seems to be far from




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J ap a n : its Resources, Trade, and Currency.

an absolute monarchy. The management of foreign affairs in Japan is
intrusted to a sort o f council, composed o f a minister of foreign affairs
and five governors; the minister at the head being also one of the high­
est members of the Council of State, and, as would appear to be invari­
ably the custom in Japan, he has his double in another minister, who, on
all public occasions, sits by his side and takes part in the business.
Besides this council, with which foreign representatives have officially
to transact all their business, their is an oligarchy composed of all the
hereditary Damios, proprietors o f three-fourths o f the soil, and with
many attributes o f sovereignty attaching to their fiefs, constituting the
great council of the nation, en permanence, since one-half of them are
always at Jeddo. The tycoon, or monarch, is little more than their
nominee and executive, and for the last generation or two, at least, the
choice has always fallen on the candidate related to, and supported by,
three or four of the most influential Damios. W hile thus constituting a
permanent council, and wielding a decisive influence over the action and
policy of the tycoon’s government, they are in a position to exercise an
independent and, to a great degree, an irresponsible power throughout
the empire, each in their several States or territories. As chief proprie­
tors of the soil, its products and the various channels of commerce
through their estates are subject to their control. Jeddo and the two
ports of Nagasaki and Hakodadi are severally in the Imperial domain,
but the domains o f the Damios intercept all the lines o f commerce to
and from the interior and the great centers o f trade and produce. No
trade, therefore, to any extent, can take development without their con­
sent. They hold, moreover, a power o f life and death over all within
their territorial jurisdiction ; and the administration of justice is equally
iu their hands, uncontrolled, except in so far as established laws and cus­
toms may place any check on the arbitrary will of the lord or his dele­
gates. The coal mines are all their property ; also those of copper, lead,
silver, and all the other sources of mineral wealth in which the country
is said to abound. It should be remarked, en passant, that the import­
ance of the Japan commerce to the maritime nations would principally
rest on the coal thence to he supplied, and generally on the export o f its
mineral wealth. But throughout the empire there prevails a settled con­
viction of the danger of exhausting the mineral resources of the coun­
try, and the impolicy and injustice of doing so, if even for their own
profit, in any one generation. All mineral products are looked upon as
in great part the inheritance of posterity, being, unlike the produce of
the soil, unsusceptible of reproduction; and, therefore, they hold them
not to be at the disposal of any one generation, save for it own reason­
able and immediate wants. Now, the Damios, or territorial magnates,
the proprietors o f the land, the mines, and all the lines of commerce,
form, as in all aristocratic countries, a powerful center o f the so-called
national prejudice. It is they who maiuly cling to the traditions of the
past, and represent all the hostile and antagonistic tendencies of Japan
to all extension of foreign relations or commerce.
A ll these traditions are based upon non-intercourse with foreigners.
The memory o f the dangers that two centuries since attended the inter­
course with the Dutch and others dwells in the public mind, and partic­
ularly operates upon the conduct o f these powerful feudal chiefs. That
ancient policy was suddenly invaded by the rapid arrival of foreigners,




J a p a n : its Resources, Trade, and Currency.

65

demanding treaties. The Americans, Russians, Dutch, English, were
followed by Denmark, Sweden, and Belgium, o f whose commissions ru­
mors reached Jeddo, when the results o f the first treaties had been already
dearness and scarcity, and a source of uneasiness sprang up in relation
to the currency. The metals are all produced in Japan in abundance for
their own wants, but there being no foreign trade the relative value of
the metals to each other was governed by the home supply, and not by
the value of those inetals in the markets of the world. Thus iron is
more scarce than copper, and it is held at about the same value. Cop­
per is overvalued in regard to silver, and that metal again in respect of
gold. The relative value o f gold to silver in the United States is nearly
16 to 1, and legally in France and England 15 t o l . In Japan it has been
5 to 1 , and the export of gold has been prohibited. Inasmuch as there
was no foreign intercourse, no inconvenience arose from this state of
things. By article ten o f Lord Elgin’s treaty, provision is made that all
foreign coin shall pass current in Japan, and for corresponding weights
in Japanese coin of the same description, gold for gold and silver for sil­
ver. It is further stipulated, that for the period of one year after the
opening o f the ports the Japanese Government will furnish British sub­
jects with Japanese coin in exchange for theirs, equal weights being given,
and no discount taken for recoinage; while Japanese coins o f all de­
scriptions, except copper, may be exported. The description o f foreign
money, the free circulation o f which throughout the country w7as actually
contemplated, was the dollar.
A gold kobang, intrinsically worth from $3 63 to $3 87, (there being
some variation in the alloy between new and old coins,) only represents
four silver itzebous, or an ounce and a third of silver. When the treaty
was made, the silver currency consisted o f itzebous, half-itzebous, and
quarter-itzebous; three itzebous being equal in weight to a dollar, and
the rest in proportion. Copper cash, however, formed the base o f the
monetary system, one itzebou being worth 1,800 cash. It appears that,
as gold is undervalued by 200 per cent as against silver, silver is under­
valued by about 7 per cent as against copper. This system, which gave
a purely fictitious value to the silver coins in relation to gold, converting
them, in fact, into mere silver tokens with a value derived, not from their
weight, but from the government stamp fixed upon them, did by no
means interfere with-the Japan foreign trade, since the latter was only a
barter trade, the coins being in circulation only among Japanese. All
this was now suddenly changed. A dollar and a third would now have
been exchanged by weight with four silver itzebous, and consequently
have bought a golden kobang, intrinsically worth $3 63 a $3 87. The
empire would have been swindled out of its gold in no time, the opera­
tion being facilitated by the government itself, being bound to give itze­
bous for dollars, weight by weight. The gold once carried off, the turn
of the silver would have come, because of its undervaluation in relation
to copper.*
The greatest activity in exporting the gold at once commenced. The
Japanese Government consequently adopted the expedient of issuing a new
silver coinage of larger silver pieces, called half-itzebous, two of which were
equal to a dollar in weight. In other words, instead of directly raising the
* For an assay o f Japan coins, see pago 88 o f the present number.
VOL. X L III.---- NO. I.
5




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J apan : its Resources, Trade, and Currency.

value of gold, they adjusted the relation o f gold to silver, by giving to a
larger piece of silver, to be used in exchange for dollars, a lower denomina­
tion. By secret understanding witli their subjects, and some bureaucratical
contrivances, this currency was to be passed only in exchange for dollars,
and then to be returned to the treasury at the rate of the value indicated,
not by its weight, but by its denomination.
This regulation was speedily repealed, and the government undertook to
receive from merchants dollars and recoin them into itzebous free of charge.
A t the latest dates, the Japanese were exchanging $10 to $15 per diem
into itzebous for each applicant, which was but a trifle toward supplying
the wants of purchasers of cargo. Cargo could be bought for itsebous 15
to 25 per cent cheaper than for dollars; $100 exchanged at the custom­
house produces 311 itsebous; 260 of those itzebous taken into the street
will buy again 100 Mexican dollars. Accordingly, the native merchant
must, if he is to receive dollars for his goods, make his price to suit. At
the request of the foreign ministers and consuls, the Japanese Government
agreed to put a government mint mark on all foreign dollars, expressing
their value at three itzebous each. This stamping of dollars was expected
daily, but without much hope o f success.
This troublesome currency question was succeeded by that of location
for the merchants. Article three of Lord Elgin’s treaty had provided for
a location of British merchants at Kanagawa. This town lies along the
upper edge of the bay, and consists mainly o f a long line of houses on
each side of the “ tocada,” or road, leading from the capital, and forming
communication with every part of the empire, and constantly used by the
Damios in journeying to and from the court. These princes never stir out
without numerous led horses, grooms, bands of officers and armed retainers,
his progress altogether resembling that o f a lord of medieval times. The
Japanese Government, in the interest of conciliating a powerful party among
the Damios or feudal princes, as well as of removing constant opportunities
for bloody quarrels between the natives and the foreigners, had to select
for foreign settlements sites out of the lines of the route o f the Damios to
the capital in their frequent progress, in great state, to and from the court
of the tycoon. They consequently indicated a site opposite to the town,
at a distance of some three miles from Kanagawa, on the lower or southern
edge of the Bay of Kanagawa, (an inlet from the larger Bay o f Jeddo,) as
a new settlement for the occupation of foreigners and native traders. It
consisted of wooden huts and streets of shops, extending three quarters of
a mile, with a custom-house or official timber-home of larger dimensions.
The approach was marked by two really imposing and beautifully construc­
ted landing-places, with flights of well-laid granite steps of great extent.
Massive jetties of great extent had been built, and, in order to shorten the
access to Kanagawa, three miles of roads connected with the opposite site
by several bridges were constructed. This new settlement for the extensive
works of which the Japanese Government had incurred large expenses,
was called Yokuhama. This site, in point of facility of access from the
bay, with the aid of the fine jetties built and depth of water, the free and
open space on shore, the greater water frontage, and the easier approach at
all times of the tide, was unobjectionable. Nevertheless, the British min­
ister, in a spirit of red-tapeism, complained that it was not at the precise
spot pointed out by the treaty. The mercantile interest recognized the ad­
vantages at once. An American schooner discharged her cargo there ; the




J a p a n : its Resources, Trade, and Currency.

67

Dutch merchants rented the stores; a branch of the British house of Jardine, Matthews & Co. occupied them, and the rush and whirl of trade com­
menced. A correspondent of the New York Tribune, under date of Feb­
ruary 25th, remarks:—
“ Despite all the remonstrances and protests of the foreign representa­
tives, Yokuhama will be the port o f trade, vice Kanagawa, omitted. In
vain have letters been written, protests made, threats hinted at; the Japan­
ese have quietly gone on putting up houses and stores at Yokuhama, not
by the row or street, but by the acre ; while foreign ministers, hampered by
doubtful powers, have been writing dispatches, they have been building
houses. The foreign merchants have too large investments of houses at
Yokuhama to so much as raise the question o f leaving. Since the moun­
tain will not come to Mohammed, Mohammed must come to the mountain.
The foreign representatives are yielding as gracefully as possible to the
force of circumstances; protesting on paper against the occupation of Y o ­
kuhama, and tacitly allowing it. It is a foregone conclusion ; the Japanese
are masters of the field, and Yokuhama carries the day against Kanagawa.
“ Trade is active. A dozen vessels are in the bay receiving cargo, which
goes mostly to China, with an occasional venture to England or the United
States. There are not less than thirty foreign houses in the trade. Japan
has lately discovered a new article of export.
Maj. Foublanque, o f the
British service, is in the market purchasing horses for the great Chinese
campaign of 1860. His wants are 3,000 horses, which he obtains through
the Japanese Government at an average price of $20 to $25. Several hun­
dred have already been purchased, and, judging from their looks, Japan is
likely to be rid of some sorry nags. But we need not be scrupulous about
the looks of pack-horses; and horse flesh for the cuisine, our French cous­
ins declare, is none the worse for age. The horse is the universal beast of
burden in Japan, and a demand for 3,000 will make no serious impression
on the market. Wheat flour, which is very cheap, is going forward in
large quantities also. Bullocks are abundant and cheap, and are likely to
be numerously shipped to China. The Chinese war will make a great de­
mand for the surplus chow-chow of Japan, and revive the drooping trade
of the foreign merchants.”
Thus commerce has fastened its civilizing hand upon that coy empire,
and she is fairly introduced into the great family of nations. What she
has to contribute to the common weal is yet undecided. She may rival
China to some extent in supplying tea and silk, and may be a customer for
iron in return. In the process her scale of the metals must undergo a
great change. It is quite probable, however, that the expectations of the
great nations now flocking thither, to share the fancied advantages, may to
some extent be disappointed.




68

Journal o f Mercantile Law.

JOURNAL OF MERCANTILE LAW .
COLLISION— MUTUAL FAULT— PLEADINGS— JURISDICTION.

Ill the United States District Court— in Admiralty.
Alfred H. Ilovey is. the steamboat Francis Skiddy.

Before Judge

B etts.

This case came up on exceptions to the report of the Commissioner to whom
the case was referred under the rules of January term, 1859.
The action was brought by the owners of the canal boat Atlantic to recover
the damages occasioned by her being run into by the Skiddy on the Hudson River.
The boat was in tow of the steam-tug Illinois. There was a fog upon the river
so thick that the boats were first warned of their dangerous proximity by the
noise of each other’s paddles, at a distance of some two or three hundred feet
apart.
The Commissioner reported in favor of the libelants.
Held by the Court.-—That the Commissioner had authority to hear the case un­
der the rules.
That the cause is one of Admiralty jurisdiction.
That on the facts both vessels were culpable in being kept under headway in
such a state of the atmosphere, though their fault was mitigated by their being
driven at so low a rate of speed.
That if this fault had continued till the collision, it would have been a case of
mutual fault, calling for an apportionment of the damages.
That on the proofs, however, the tug stopped and backed at such a distance
that a like proceeding on the part of the Skiddy would probably have prevented
a collision, and this fault no longer remained common to both.
That when it was ascertained on the Skiddy that she was stopping in a critical
closeness to the tug, she was started ahead, crossing the bows of the tug, and that
this proceeding was a fault casting the blame of the collision upon her.
That the pleadings on both sides are faulty in not setting forth distinctly all
the facts material to be proved to support the case of the prosecution or defence,
and proofs on those points not alleged would have been legally inadmissible.
That the court also might refuse to decide those points not specifically at issue
on the pleadings, but as the case has been fully discussed on the merits, and the
pleadings can be reformed on an appeal, if one is taken, the court will decide on
the law and facts of the case, that the findings of the commissioner are correct,
and that the exceptions must be overruled.
Decree, therefore, for libelants, with a reference to ascertain the damages.
CHARTER— MUTUAL COVENANTS— JURISDICTION.

In the United States District Court,—in Admiralty.
Rafael F. Torrices is. the ship Winged Racer.

Before Judge

B etts.

This action is brought on a charter of the ship by the owners to the libelant
in July, 1857, for a voyage to China and thence back to Havana with a load of
Coolies, not less than 884 in number, for which the libelant was to pay freight,
$67 50 apiece to the ship, and a further sum to the master. The clause of the
charter which the libel sought to enforce was as follows :—“ The penalty of non­
performance of this contract is mutually fixed at half the amount of freight, and
to the accomplishment of the same, the charterer engages his whole responsibility,
and the owners their vessel, rigging, &c., as by law. The ship to have a lien
upon the passengers for the freight money.”
The libel was filed to recover this penalty, amounting to $28,951, alleging that
the ship prepared for the voyage, cleared at the Custom-house, but after its com­
mencement the owners broke it up and neglected to perform it.




69

Journal o f Mercantile Law.

Held by the Court.—-That by the maritime law a ship is not bound to the per­
formance of a contract for her employment, unless there be mutually a liability
charged on cargo on board for the satisfaction of those services. When the con­
tract is for the prospective employment of a ship in transportation of cargo which
is not placed on board, the remedy for a breach of such contract is in the com­
mon law courts.
That the clause in the charter by which the owners engage “ their vessel, rig­
ging, &c., as by law,” subjects the security to the operation of the law maritime
upon credits of that character.
That the libelant therefore shows no lien upon the vessel of which the court
can take cognizance, and the exception to the jurisdiction of the court must
therefore be allowed.
Libel dismissed.
CHARTER— BILL OF LADING— CARGO ON DECK— JETTISON— JURISDICTION.

In the United States District Court—in Admiralty.
N. Foster Higgins, el al, vs. Barron C. Watson, ei al.

Before Judge

B

etts.

The libelants were the owners of the schooner B. S. Johnson, which was
chartered on August 6, 1858, to the respondents by her master, for a voyage
from two ports in North Carolina to New York, the respondents engaging to
provide the vessel with a full cargo of resin and spirits of turpentine in barrels
under deck, and with a deck load of resin in barrels, and to pay the master or
agent a certain freight for resin and spirits of turpentine under deck, an another
rate of freight for resin on deck. The master signed two clean bills of lading
for resin shipped on board, one deliverable to the respondents or their assigns,
and the other deliverable to a third party. The vessel arrived in New York
September 24, 1858, and delivered to the respondents 106 barrels of resin less
than the number of barrels called for by the bills of lading, that number having
been swept from the deck or jettisoned by reason of sea perils. The master duly
assigned the charter-party to the libelants, who brought this action to recover
the freight according to the charter, while the respondents claimed that as the
bills of lading were clean bills, the libelants were responsible for the loss of the
resin shipped on deck.
Held by the Court.—That the owner of a vessel is not liable for the loss by
sea perils of goods laden on deck with the consent of the shipper, when no cul­
pable neglect or misconduct is attributed to him in their destruction or jettison.
(17 How. R „ 100.)
That the charter-party in this case, and not the bills of lading, form the con­
trolling contract of shipment, and governs the rights of the parties, which are
not changed by specifying a different rate of freight in the bills of lading.
That the objection that an action upon a charter-party is not within the juris­
diction of the court, cannot be maintained.
Decree for libelants, with a reference to ascertain the amount of the chartermoney due.
s e a m e n ’s

WAGES— UNAUTHORIZED EMPLOYMENT.

In the United States District Court—in Admiralty. Before Judge
William J. Gilligan and twenty-three others vs. the ship Winged Racer.

B

etts.

This was a libel on behalf of seamen to recover wages against the vessel, by
reason of the failure of a voyage to China and back, for which they had ship­
ped. They were shipped in this port by a broker, at the request of one H a n n a ,
who was alleged to be the master of the ship, and four of them rendered them­
selves on board to do duty. H a n n a testified that he had possession of the ship
at the time as master, but did not prove any authority from her owner, and
testified also that she was shortly afterwards taken possession of by the United




70

Journal o j Mercantile Law.

States Marshal under process, and the voyage was broken up, and he had not
had possession since. The claimants offered depositions to show that H a n n a ’ s
possession was an unauthorized usurpation of her, but that evidence was excluded
by reason of informality in the certificate of the commission.
Held by the Court.—That the libelants do not furnish sufficient proof that
H a n n a ’ s possession was such as to authorize him to encumber the ship with the
charge of wages of a crew. There is no evidence that he brought the vessel to
this port, or ever exercised any control over her, except in directing the broker
to ship the crew. He may have wronged the libelants, but there is no proof
which can authorize the court to redress that wrong at the expense of the lawful
owners, who on the proofs must be deemed wholly innocent of any misconduct
on his part.
Libel dismissed, but, as the libelants are seamen, without costs.

TOWING— DAMAGES.

In the United States District Court— in Admiralty.
Ebenezer Goodwin, et al., vs. the tug boat C. Durant.

Before Judge

B

etts.

The libelants, owners of the bark Elizabeth, sue to recover $212 50 damages,
alleging that in October, 1856, they employed the tug to tow the bark to sea,
and that in doing so she carelessly towed the bark against a schooner, injuring
the bark to the amount of $100, and the schooner to the amount of $112 50,
which the libelants had to pay.
The evidence showed that the libelants first employed the tug to tow the bark
from a dock in Brooklyn to anchorage ground in the North River, on which voy­
age the injury spoken of took place, and then made a subsequent agreement that
the tug should tow the bark to sea for $30.
One of the libelants brought with him a pilot to superintend the removal of
the bark to the N orth River, and the manner of hauling her from the dock and
conducting the voyage was conducted by them, and the pilot in charge of the
tug followed their orders.
Held by the Court.—That the gist of the action rests in contract and not in
tort.
That if the bark received injuries by negligence in the management of the tug,
that fault was attributable to the libelants and their agent, the pilot, and not to
the owners of the tug, who acted pursuant to the directions of the libelant and
the pilot.
Libel dismissed, with costs.

JURISDICTION— TOWING CONTRACT.

In the United States District Court—in Admiralty.
Benjamin F. Betts, et al., vs. Eben Goodwin, et al.

Before Judge

B etts.

This was a cross action tried with the preceding, brought by the owners of
the C. Durant to recover the $30 for towing the vessel to sea.
Held by the Court.—.That the court has jurisdiction of the action. The ter­
minus of the service in fact happened within the exterior boundaries of the State,
but the contract was indefinite as to distance, and required that the steamer
should tow the bark far enough out on the high seas to enable her to clear her­
self from the shore, and was accordingly in principle not confined to a place
within the State. Its meaning, as well as its terms looked to placing the bark
fully and effectually at sea. It was, therefore, a maritime contract.
The merits of the controversy as to the damage to the bark were decided in
the previous case.
Decree, therefore, for libelants for $30, with interest from the commencement
of the action, the day of the contract not having been proved.




71

Commeriial Chronicle and Review.

COMMERCIAL CHRONICLE AND REVIEW .
D E C L IN E IN TH E V A L U E
B U S IN E S S — F A L L IN G

O P M O N E Y — D E C L IN E A B R O A D — T H E IN V A S IO N

E X P O R T S — C O T T O N — B R E A D S T U F F S — N O E N T E R P R IS E TO D E M A N D
TEN D

TO

NEW

YORK— PO PU LAR

W A L E S — JA P A N E 8E
IM P O R T A N C E O F T n E
O R Y8TA L

O F S I C IL Y — S T A G N A T I O N

OF

P R I C E S — C R O P S O F F O O D P R O M IS E W E L L — C H E C K S M E R C H A N T S H E R E — L A R G E

A T T R A C T IO N S — C E N T R A L

E M BASSY— T R A V E L E R S TO EU R O PE — T A B L E
E X P E N D IT U R E — ST E AM

TH AN EVER— PA PE R BETTER CH ARACTER— BA N K
OF— F A L L

C O IN A G E — L A W

OF

1853—

OF

MONEY

S IL V E R

IN

OF

E A STE R N — P R IN C E

N U M B ER S— R A P ID

OF

IN C R E A S E —

F A C I L I T I E S — I N F L U E N C E O N H O T E L S A N D B U S IN E S S —

P A L A C E E X C IT E M E N T — I T S R E S U L T S — P L E T H O R A

S P E C IE — T A B L E

C A P IT A L — C A P IT A L A N D T R A V E L

PARK — GREAT

OF M O N E Y — T A B L E O F R A T E S— C H E A PE R

D IS C O U N T S — R A T E S O F E X C H A N G E — S H I P M E N T S OF

L O N D O N — S U P P L IE S O F 8P E O IE — A S S A Y -O F F IC E — M IN T —

C O IN A G E — G R E A T

SU PPLY

OF CU RREN CY— EFFECT U PON

BANK

C IR C U L A T I O N — D R I V E 8 O U T G O L D — R E D U N D A N C Y O F C H E A P M O N E Y — IM P O R T S .

T h e r e has been a rapid decline in the value of money at home and abroad,
arising mostly from the stagnation of business enterprises. The rate of money
at the Bank of England, which had been put up to five per cent in April under
exceptional influences, declined to four-and-a-half, and with the stagnation in
business enterprises which followed the news of the descent of Garibaldi upon
Sicily, it again declined to four per cent, and was dull outside of the Bank at
three-and-a-half, and could with difficulty be loaned upon the stock exchange at
any rate of interest. The buyers of goods, in the manufacturing districts, for
continental account, were very cautious, and business generally was not such as
to employ much capital or to tempt speculation. The growing harvests promised
so well that prices of produce were mostly dull, and did not tempt investment.
The cotton crop, at the same time, continues swelling in magnitude to an extent
that weakens values, in face of the checks which the markets for goods have re­
ceived. These circumstances have influenced the markets here in a similar man­
ner, and the value of money has declined in face of lessened enterprise, while
the exports from the port, as will be seen by reference to the monthly tables
hereto appended, have been large. The exports of cotton and breadstuffs from
the United States, since September 1, have been, in quantities, as follows :—

Cotton...................................................... bales
Flour......................................................... bbls.
Wheat...................................................... bush.
Corn................................................................

1859.

1860.

Increase.

2,701,044
130,859
508,415
831,316

3,567,509
270,476
941,985
507,314

866,465
139,617
438,570
175,998

These quantities represent alone an increased value of nearly $46,000,000, and
are a large amount added to the capital of the country, as far as sales have been
realized. The stagnation of the merchandise markets from political causes, and
of the food prices by reason of the crops, prevent capital from embarking in pro­
duce, and there are no other enterprises which, for the moment, attract invest­
ments. This, since the check of 1857, has been slowly returning to first hands
from the West, while the South, having realized abundant crops at high prices,
has been liberal in payments and expenditures. Inasmuch as that New York
is the general focus to which capital tends for employment, as well as for per­
sons of leisure and those seeking business, there is an affluence of money and
persons at the metropolis •this season. The attractions at this time are the
visit of the Great Eastern, the popular ‘-progress” of the Japanese, and the




72

Commercial Chronicle and Review.

“ royal progress ” of the Prince of Wales. These, in connection with the fame
of the great Central Park, swell the number of those visitors who seek the city
in such increasing numbers, coming and going from Europe. This latter item
has reached an importance which is seldom borne in mind. There are no official
figures for the number of those who leave the country, but, the number of those
who return is given in official figures. The numbers who have arrived, in periods
of five years, during the last thirty years, have been as follows :—
Male.

1830-84.........................................................
1835-89........................................................
1840-44.........................................................
1845-49.........................................................
1850-54........................................................
1855-59........................................................

6,622
21,014
24,264
16,688
118,447
105,965

Female.

1,771
5,497
7,990
6,009
12,557
24,368

Total.

8,393
26,511
32,254
20,697
131,004
130,333

It will be observed that the number of females, denoting the proportion of
families that travel abroad, has rapidly increased, and during the last five years
they have reached 24,368, out of a total number of 130,333 citizens arrived
home. These crowds of persons swell the hotel business, both going and coming,
and should be doubled to indicate the number of visitors. This would be
260,000 in the last five years, or 52,000 per annum—say 1,000 per week. The
expenses and outlay of these persons count several millions, and in the last ten
years the sum has increased six-fold. The greater proportion of females indi­
cate that they are not merely business visits, but are the result of those pleasure
tours that flow from increasing individual wealth, and the facilities which the
great steam lines afford for crossing the ocean. This stream of travel has been
a material element in the hotel building in New York and in the progre s of
business towards the upper end of the island. The present year seems to promise,
therefore, as much local city business for New York as grew out of the Crystal
Palace in 1853. That excitement was followed by a partial stagnation of busi­
ness at the last, and a current of enterprise towards the West, which ultimately
reacted in 1857. That section now shows some signs of recovery, but there is
yet wanting that decided action which a large foreign demand for breadstuffs
would impart. The crops promise well, and there is every element of abundance,
should an adequate outlet be offered. The plethora of money is, therefore, very
great now in New York. It is probably cheaper than ever at this season, as
well at call as on paper. The rates are as follows, comparatively :—
Jan. 1st, 1859.
Feb. 1st ..........
Mar. 1st ..........
Apr. 1st ..........
May 1st ..........
Jun. 1st...........
July 1s t ...........
Aug. 1st...........
Sept. 1st...........
Oct. 1st.............
Nov. 1st...........

Dec. 1st...........
Dec. 17 th.........
Jan. 1st, I860..
Jan. 15th.........

,_ -On icall.- —v ,— — Indorsed —— % Single
Other
Other.
60 days. 4 a ti mos. names.
Stocks.
good.
6 a 7
4 a 5
5 a6
4 a 4i 4 a 5
7a 8
6 a 7
8 a 9
6 a7
5 a6
0 a6
7 a 71
7a 8
4 a5
51 a 61 6 a 7
Ha6 Ha
6 a 61 61 a 7
5 a6
5 a
8a 9
4 a5
6 a 61 * i a 6
7 a9
5 a6
6 a 7
9 a 10
8 a9
9 a 10
6 a7
7 a8
7 a8
6* a 7
7 a 71 8 a 9
6 a7
10 a 12
5 a6
6i a 7
8 a9
11 a 13
6 a7
7 a8
6i a 71 7 a 8
6 a7
7 a 11 8 a 81 11 a 14
7 a8
6* a 6
8 a9
6 a7
7 a8
10 a 12
6} a 7
6i a 7
5 an 6 a7
81 a 91 12 a 15
6i a 71 'll a 8
6 a7
7 a 81 8 a 9
9 a 10
5 aH 6 a7
9 a 10
H a 6 6 a 7 7 a 71 n a 81 8 a 9
7 a 7£ H a 81 n a 8
9 a 10
6 a 6i 6* a 7
9 a 91 9 a 10 10 a 11
7 a 7i 7 a n 81 a 9




Not well
known.
8 a 10
9 a 10
9 a 10
9 a 10
10 a 12
10 a 12
12 a 15

12 a
12 a
12 a
12 a
12 a
12 a
12 a

15
16

18
18
18
18
18
15 a 20

73

Commercial Chronicle and R eview .

,----- On call.-

Other.
7 a 74
6 a7
6 aV
5 a 5# 54 a 6
5 a5| 6 a 64
5 a 64 6 a 64
5 a 5± 6 a 64
5 a6
6 a 64
6 a 64
4# a 5
5 a6
4J a 6
Stocks.

Feb. 1st.........
Feb. 15th. . . .
Mar. 1st........
Mar. 15th...... .
Apr. 1st........ .
Apr. 15th...... .
May 1st........ .
May 15th . . . .
June 1st........ .
June 15th . . . .

,----- Indorsed.------%
60 days.
8^ a 9
7 a 74
7 a 7J6 a7
54 a 6
54 a 6
5 a6
5 a6
5 a6
44 a 5

4 a 6 raos.
9 a 94
74 a 8
74 a 8
74 a 8
6 a6|
6 a 64
6 a 64
6 a7
6 a7
5 a 54

Single
Other
names.
good.
9 a 10 11 a 12
8| a 94 10 a 12
84 a 94 10 a 12
8| a 94 10 a 12
54 a 74
9 a 10
9 a 10
61 a 74
9 a 10
64 a 74
9 a 10
64 a 74
8a9
64 a 74
54 a 6
6 a 74

Not well
known.
15 a 20
15 a 18
15 a 18
15 a 18
11 a 13
11 a 13
11 a 12
10 a 12
9 a 10
8a 9

At the close of 1858, after the severe pinch that followed the panic, money
was cheaper than now, because there was little or no employment for it or con­
fidence in promises. Last year, in June, money was worth at “ call ” two per
cent more than now, when it is two-and-a-half per cent cheaper than in January.
On good paper it is cheaper than at any time since the panic.. This, no doubt,
arises from the fact that the market is to a considerable extent purged of the
paper tainted by “ extension,” and also that the demand for money is far less
than usual at this season. The line of bank discounts is higher than at the same
period last year, when it was rapidly falling. The decline in the value of money
this year has been attended by a rise in the rates of exchange and a resumption
of the specie shipments. The rate of interest on short paper has fallen one per
cent since the middle of April, and sterling bills have risen one per cent since
that date, when, also, the shipments of specie recommenced. The rates of bills
are as follows :—
KATES OK BILLS IN N E W YORK.

Jan. 1..
15..
Feb. 1..
15..
Mar. 1..
15..
Apr. 1..
15..
May 1 ..
15..
Jun. 1 ..
15..

London.
9 a n
84 a 9
8| a 9
84 a 9
8 fa 9
Ha n
8f a
8 f a 84
9i a 94
9 f a 94
9 f a Mi
94 a 94

Paris.
5 .181 a 5 .174
5 •214 a 6 .181
5 .18| a 5 .174
5,,181 a 5..174
5,,174 a 5. 15
5. 174 a 5. 15f
5. 181 a 5. 164
5. 164 a 5. 174
5..134 a 5. 124
5.,1SJ a 5..134
5 .134 a 5. 124
5 ,13| a 5 .124

Amsterdam.
41# a414
414 a 414
414 a 414
414 a 414
4 l| a 41f
4 l| a 411
414 a 414
41# a 414
414 a 41#
41# a 414
41f a 41#
41f a 41f

Frankfort.
Hamburg.
41f a 414 361 a 36f
411 a 411 36# a 36#
41| a 411 36# a 3b#
414 a 414 364 a 361
41J a 414 36f a 364
414 a 41f 36# a 36J
414 a 41f 36# a 36f
41f a 414 364 a .36f
36f a 36|
414 a 42
86# a 87
414 a 42
37 a 374
414 a 42
361 a 37#
41# a 42

Berlin.
73 a TSJ
731 a 734
73# a 73|
73# a 734
734 a 734
731 a 73#
731 a 73#
731 a 73#
734 a 731
73# a 734
73f a 734
734 a 734

Up to the middle of April the shipments of specie this year had been

$ 5,394,295, against $12,312,708. Since that date the shipments have been
$ 12,000,000, without much affecting the amount in the city—the supplies from
the interior being large. The shipment of the last week in May last year was
the largest on record, and it was followed by continued large shipments, without,
however, producing any influence upon the value of money. The comparative
specie movement has been as follows :—CO LD REC EIVED FROM CALIFORNIA AND EXPORTED FROM NEW YO RK W E E K L Y , W IT H THE
AMOUNT OF SPECIE IN SUB-TREASURY, AND THE TOTAL IN THE CITY.

,- - - - - - - - - 1859.- - - - - - - - - - s ,- - - - - - - - - Received.

Exported.

Received.

Jan. 7............................. $1,U62,568 .................
14......... $1,876,300
218,049 1,788,666
21.............................
567,398 ..............




- - - - - - - - - - 18 6 0 .- - - - - - - - - - - - - - - - - - - - - - - ,
Specie in
Exported, sub-treasury,

Total
in the city.

$85,080 $7,787,965 $25,600,699
88,482 7,729,646 26,470,512
259,400 8,352,485 27,585,970

74

Commercial Chronicle and Review,
-1 8 5 9 -

28..
4.. . . .
li..
18..
26..
Mar. 3..
10..
17..
24..
81..
Apr. 7..
14..
21..
28..
May 5.
12..
19.. . . . .
26..
June 2..
9..
15..
Total.

Received.

Exported.

Received.

1,210,713

467,694
606,969
361,550
1,013,780
358,354
1,427,556
307,106
870,578
208,955
1,343,069
676,107
1,637,104
1,496,889
1,680,743
2,169,197
1,926,491
2,223,578
5,126,643
2,325,972
1,877,294
1,669,263

1,760,582
94,569
1,476,621

........

1,319,928

..........

1,287,967

..........

933,130
1,032,314

..........

1,404,210
1,723,352
, ........ .
1,480,115

........

1,938,669

...........

1,513,978

1,393,179
382,503
1,198,711
152,000
895,336
155,110
1,146,211
1,455,337

..........

1,382,753
1,519,703
1,400,000

Specie in
Exported. sub-treasury.

81,800
427,457
92,350
592,997
202,000
667,282
115,473
429,260
465,116
706,006
810,088
630,010
241,503
1,774,767
2,355,117
533.881
1,251,177
1,317,773
1,719,138
1,542,466
1,750,000

8,957,128
9,010,569
9,676,732
10,012,572
8,956,203
8,734,028
8,237,909
8,099,409
8,122,672
8,026,492
7,562,885
7,714,000
7,531,483
7,668,723
7,041,143
6,539,414
6,864,148
6,982,660
6,621,100
6,620,622
6,405,619

Total
in the city.

29,020,862
28,934,870
29,464,299
30,603,762
29,729,199
31,820,840
30,139,089
31,271,247
31,408,876
31,447,251
30,162,017
31.640,982
30,764,897
30,848,532
30,856,889
29,319,801
30,599,341
30,414,433
31,196,557
30,406,203
31,000,000

15,220,560 31,523,188 16,201,312 17,638,614

The fall in the rate of money in London has been about the same as in New
Y ork ; but the unusual spectacle presents itself here of a low rate of money
running through two years without exciting any degree of speculation or pro­
moting much business enterprise, beyond very firm prices for city property.
The arrivals of gold from California are not so large as last year, and there is
far less activity at the Assay-office or the Mint. The operations at the former
are as follows :—
N E W Y O RK ASS AY-O FFICE.

Jan.
Feb.
Mar.
Apr.
May

----------Foreign.-------------------- * ,---------- United States.---------- ,
Gold.
Silver.
Silver.
Coin.
Bullion.
Coin. Bullion.
Coin. Bullion.
Gold.
14,000 18,000 11,200 14,000 2,478,000 1,800 20,000
5,000 28,000
6,500 24,000
951,000
7,500
8,000 15,000 23,400
6,500 267,000 1,100
2,500
8,000 82,000 14,500
3,800
10,000 183,000 3,700
11,200 20,800 26,500 18,000 176,000 7,000 16,500

Tot. 46,200 113,800
’59

31,000

81,100
46,000 225,080

71,500 4,055,000 13,600
42,000 1,875,000 9,900

Payments
in
Coin.
Bars.
647,000 1.910,000
932,000
90,000
142,500
180,000
70,000
187,000
230,000
45,000

52,300 ■;>,176,000 3,257,500
685,600
21,620 :1,884,000

Of the silver bullion deposited this month at the Mint, $11,000 was of Washoe
silver, and the promise from those new mines continues to be large. The pay­
ments in coin are largely diminished since the beginning of the year. The Mint
operations show the same feature for the last few months, as follows :—
UNITED STATES M INT, P H ILA D E LP H IA .

,------- Deposits.-------- , ,--------------—------------Coinage.-----------------------------,
Gold.
Silver.
Gold.
Silver.
Cents.
Total

January..........
February........
March............
April...............
May................
Total, 1860.
Total, 1859.




$200,000
1,838,578
144,478
281,891
90,828

$41,000
85,573
82,255
49,764
72,468

$1,024,563
1,632,160
317,451
252,756
133,004

$41,000 $24,000 $1,090,568
21,600
24,000 1,677,760
132,989
29,000
479,440
38,431
30,000
321,188
81,100 35,000
249,104

$2,675,775 $291,040 $3,259,934 $315,120 $142,000 $3,818,060
575,150 423,650
44,487 523,500 143,000 1,709,787

75

Commercial Chronicle and Review.

The comparative stagnation of business throughout the country not only
causes money, or capital, to be in less demand, and therefore cheaper, but makes
less currency necessary, and, as a consequence, there is an apparent plethora of
coin. The law of 1853 provided for the coinage of the fractions of the dollar in
silver at a rate of nearly seven per cent depreciation as compared with the silver
dollars. This was done in the view of keeping the coin in circulation. The
quantity that has been thus coined in the seven-and-a-half years since that act
has been nearly $48,000,000. Of this some $3,300,000 has been of domestic
silver—mostly from California gold. This supply of silver coin, in a form not
profitable for exportation, exercises an important influence upon the amount of
money outstanding. The banks do not like to take more than the legal tender—
$5—and it passes from hand, being paid away and pushed off in the rapid man­
ner natural to a cheap currency, which most persons had rather pay away than
keep. A currency thus active performs more of the exchanges of trade than a
sluggish one of the same nominal amount. It is partly to this circumstance that
the small-note circulation of the banks bears so much less a proportion to their
aggregate credits than formerly, and it also influences the export of the dollar
pieces and of the small gold coins, since, when a currency becomes redundant, it
is the most valuable coins which go first.
The last month has shown a considerable decline in the value of imports as
compared with the same month last year, and the entries for warehouse bear a
larger proportion to the whole imports than last year. There has been, however,
an increase in the quantity of goods in warehouse. The importation of free
goods is much less this year than last, w'hen they were large by reason of the
articles made free under the tariff of 1857
FO R E IG N IM PO RTS AT N E W Y O RK IN M AY.

1857.
Entered for consumption.............
Entered for warehousing............
Free goods....................................
Specie and bullion......................

$5,451,191
10,508,421
1,674,810
1,070,833

1858.

1859.

I8 6 0 .

$6,574,612 $15,222,311 $10,515,411
4,436,660
2,626,978
4,746,614
1,845,020
1,928,573
3,461,285
96,060
324,540
122,436

Total entered at the port............ $18,705,255 $11,454,703 $23,552,646 $16,893,151
Withdrawn from warehouse . . . .
2,262,173
2,665,573
1,628,434
2,475,067

The quantity of goods received since January 1, has been less than last year,
and the amount entered for warehouse has been larger than for any similar period
of the last four years, except 1857, although money has been so dear, and there has
been an apparent accumulation of about four-and-a-half million dollars in bond:—
FOREIGN IM PORTS AT N E W YO RK FOR F IV E MONTHS, FROM JANUARY 1 ST.

1857.

1858.

1859.

I8 6 0 .

Entered for consumption.............. $62,766,051 $29,667,957 $76,920,748 $68,075,289
Entered for warehousing............. 29,574,660
9,827,520 13,772,131 16,427,793
Free goods......................
8,267,379 10,496,484 18,762,623 18,405,640
Specie and bullion........................
4,982,111
1,676,231
640,051
648,565
Total entered at the port............. 105,590,301 $51,668,192 105,095,053 $98,557,286
Withdrawn from warehouse........ 12,364,162 19,551,824
9,146,490 12,047,280

There has been about $5,000,000 less put upon the market this year than last.
The operation for the eleven months shows an increase over any previous year:—




76

Commercial Chronicle and Review.
FOREIGN IM PORTS AT NEW Y O RK FOR ELEVEN MONTHS ENDING M AT

1857.

1858.

1859.

81.

1860.

Six months ................................. 105,254,740 109,688,702 91,082,433 116,000,642
January....................................... 19,006,732
8,105,719 19,447,962 21,756,273
February..................................... 25,524,492
9,209,043 18,848,370 19,356,379
11,729,702 20,820,456 23.580,126
March........................................... 21,135,504
April............................................. 21,218,318
11,169,025 22,425,619 16,971,358
May............................................... 18,705,255
11,454,703 23,562,646 16,893,151
Total for eleven months....... 210,845,041 161,356,894 196,177,486 214,557,929

In separating the foreign dry goods from other merchandise, we find a large
portion of the decline under that head. The total of foreign dry goods landed
at the port, for the month of May, is larger than for any previous year, except
1859. The quantity entered for consumption direct this year is less than last
year
IM FORTS OF F O R EIG N D R Y GOODS AT NEW Y O RK FOR THE MONTH OF MAY.
ENTERED FOR CONSUMPTION.

1857.

1858.

Manufactures of wool...................
Manufactures of cotton................
Manufactures of silk...................
Manufactures of flax....................
Miscellaneous dry goods...............

8303,300
340,133
308,962
66,078
109,666

8944,178
595,666
786,112
257,357
162,290

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

$1,128,139

$2,745,603

1859.

I8 6 0 .

$2,939,269 $1,901,349
1,543,239
661,329
1,821,294 1,422,900
749,496
414,364
268,624
292,099
$7,321,822

$4,692,041

W IT H D R A W N FROM WAREHOUSE.

185 7 .
Manufactures of w o o l..................
Manufactures of cotton................
Manufactures of silk ....................
Manufactures of flax.....................
Miscellaneous dry goods...............

$151,078
69,003
116,549
54,672
22,674

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

$412,976
1,128,139

Total thrown upon market..

$1,541,115

1858.
$280,009
189,866
175,305
172,627
49,485

1859.
$101,962
34,632
17,880
58,439
13,012

I8 6 0 .
$143,628
78,664
98,051
50,782
42,461

$867,292
$225,925
$413,586
2,745,603 7,321,822 4,692,041
$3,612,895

$7,547,747

$5,105,627

ENTERED FOR WAREHOUSING.

1857.

1858.

Manufactures of wool..................
Manufactures of cotton...............
Manufactures of silk....................
Manufactures of flax....................
Miscellaneous dry goods..............

$822,948
289,336
567,969
129,235
190,752

$185,342
81,839
46,571
70,904
41,556

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

$2,000,240
1,128,139

Total entered at the port...

$3,128,379

1859.

1860.

$486,832
76,862
74,070
77,897
66,924

$417,481
188,273
161,891
43,152
78,393

$426,212
2,745,603

$782,587
7,321,822

$889,557
4,692,041

$3,171,815

$8,104,409

$5,681,598

The quantity withdrawn from warehouse this year is less than half the quantity
entered.
The receipts of foreign dry goods at the port of New York, since January




77

Commercial Chronicle and Review.

1st, exceed those of any preceding year for a corresponding period, except 1859,
and about the same quantity imported has been put upon the market:—
IMPORTS O F F O R E IG N

DRY

GOODS AT THE PORT OF NEW Y O R K , F O R F IV E MONTHS,
FROM JANUARY 1ST.
ENTERED FOR CONSUMPTION.

1857.
Manufacturesof wool...................
Manufactures of cotton....... .
Manufacturesof silk....................
Manufactures of flax....................
Miscellaneous dry goods..............

$7,811,527
8,833,095
11,246,964
8,044,136
3,195,390

18 5 8 .

1859.

I8 6 0 .

$3,978,482 $13,381,282 $12,312,844
3,501,188 11,389,538 8,064,911
5,706,309 13,324,975 34,917,196
1,400,866 4,673,576
3,430,913
1,220,336 2,624,809
2,224,106

Total..................................... $33,631,112 $15,807,181 $45,396,200 $40,949,970
W IT H D R A W N FROM W AREHOUSE.

1857.

1858.

Manufacturesof wool...................
Manufactures of cotton................
Manufactures of silk ...................
Manufactures of flax..... .............
Miscellaneous dry goods..............

$982,071
1,722,977
1,171.994
712,939
339,537

$2,033,111
2,724,955
2,253,144
1,358,310
809,805

$761,545 $1,163,809
1,029,171 1,618,328
397,803
810,926
574,682
469,564
217,069
357,923

1859.

1860.

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

$4,929,618
33,631,112

$9,178,825
15,807,181

$2,980,260 $4,420,050
45,396,200 40,949,970

Total thrown on market___ $38,560,730 $24,986,006 $48,376,460 $45,370,020
EN TE RED FOR W AREHO USIN G.

1857.

1858.

Manufactures of wool...................
Manufactures of cotton................
Manufactures of silk...................
Manufactures of flax..............
Miscellaneous dry goods..............

$2,769,628
1,622,990
2,374,429
1,135,082
649,345

$948,997
1,337,346
812,188
505,410
358,519

$944,437 $1,501,961
605,611 1,273,233
277,129
817,388
291,278
208,532
185,167
369,348

1859.

1860.

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

$8,451,474 $3,962,460
33,631,112 15,807,181

$2,403,656 $4,1.70,462
45,396,200 40,949,970

Total entered at the port. . . $42,082,586 $19,769,641 $47,799,856 $45,120,432

The exports of domestic produce from New York to foreign ports have been
rather more than for last year. On the other hand, the shipments of specie,
which were remarkably large, have declined more than half. The shipments of
specie for May last year were larger than for any previous month in our history ;
and this year, although less, are still considerable :—
EXPO RTS FROM N E W YORK TO FOREIGN PORTS FOR THE MONTH OF M AY.

1857.
Domestic produce........................ $6,046,643
Foreign merchandise (free).........
169,451
Foreign merchandise (dutiable)...
294,839
Specie and bulliou........................
5,789,266

1858.
$4,262,789
113,799
229,990
1,790,275

1859.

1860.

$5,180,652 $5,182,190
308,096
309,921
426,002
248,270
11,421,032 5,529,935

Total exports....................... $12,800,199 $6,397,353 $17,336,782 $11,900,317
Total, exclusive of specie. . . 6,610,933
4,606,578
5,914,750
6,370,381




78

Commercial Chronicle and Review.

Thus the exports from New York to foreign ports, exclusive of specie, since
January 1st, are larger than ever before in the same period. The specie ship­
ments for the same time show an immense decline as compared with last year,
and are moderate in respect of former ones :—
EXPORTS FRO M N E W YO R K TO FOREIGN PORTS FOR FIVE MONTHS, FROM JANUARY 1 .

1857.

1858.

1859.

I8 6 0 .

Domestic produce......................... 129,056,328 $22,197,453 $23,555,187 $30,448,088
Foreign merchandise (free)..........
1,176,049
623,792
1,258,063 1,519,011
Foreign merchandise (dutiable)...
1,789,548
1,929,435
1,601,841 2,606,281
Specie and bullion....................... 14,458,708 11,765,785 25,700,991 12,737,672
Total exports....................... $46,480,633 $36,516,465 $52,116,081 $47,311,052
Total, exclusive of specie... 32,021,925 24,750,680 26,415,091 34,573,380

This shows an aggregate far in excess of any previous year, including specie,
of which the movement has been very large. Exclusive of specie, the shipments
have not been exceeded any year except 1857, when the high prices of cotton
during the first months swelled the amount. There is now some improvement in
the exports of breadstuffs :—
EXPO RTS, EXCLUSIVE OF SPECIE, FRO M N E W Y O RK TO FOREIGN PORTS FOR ELEVEN MONTHS
ENDING W IT H MAY.

1857.

1858.

1859.

1860.

Six months................................... $43,596,501 $34,702,441 $27,994,834 $36,371,058
January.........................................
4,884,170
4,689,739
4,114,008 6,022,462
February.....................................
5,938,786
4,173,577
3,735,633 6,675,870
March......................
9,015,891
5,180,860
5,876,001 8,128,754
April.............................................
5,672,145
6,099,926
6,774,699 7,315,913
May...............................................
6,510,933
4,606,578
5,914,750 6,370,381
Total.............................................$75,618,426 $59,453,121 $54,409,925 $70,944,438
Specie for same tim e.................. 36,409,114 33,727,897 39,342,463 49,265,566
Total exports.................... 112,027,540 $93,181,108 $93,752,388 120,200,004

The cash duties received at the port were, for the first six months of the fiscal
year, higher than last year or the previous one, and are second only to the large
revenues of 1857 :—
CASH DUTIES RECEIVED AT NEW YO RK .

1858.

1859.

Six months ending January 1.
In January..............................
February ...............................
March......................................
April.......................................
May.........................................

$16,345,553 57
1,641,474 59
2,063,784 86
2,213,452 15
1,736,510 41
1,748.227 54

$15,387,618 49
3,478,471 38
3,328,688 93
3,164,011 25
3,212,060 49
3,014,520 39

$19,322,060 96
3,899,166 17
8,378,043 28
3,477,545 74
2,444,267 96
2,466,462 76

Total eleven months. . . .

$25,749,003 12

$31,585,370 93

$34,987,546 87




1860.

79

Journal o f Banking, Currency, and Finance.

JOURNAL OF BANKING, CURRENCY, AND FINANCE.
CITY OF NEW YORK FINANCES.

The report of the Controller of the city gives the following items :—
Amount in the bureau of collection of taxes, December 31, 1858..
The amount of the general tax levy for 1859, according to the ap­
parent footings of the tax books, extended and added under direc­
tion of the members of the Board of Supervisors, and placed in
the hands of the Receiver of taxes, was.......................................
Amount of interest on taxes collected during the year...................

$2,'719,966 87

9,863,002 24
50,406 53
$12,633,375 64

The amount of remissions and abatements during
the year w a s .....................................................
Amount refunded for payments in error..............
Amount of discount on taxes.................................
Amount of taxes on real estate for the year 1858
transmitted by the Clerk of Arrears for collec­
tion......................................................................
Amount paid over to the county treasurer during
the y e a r ............................................................

$108,058 96
2,952 77
87,620 51
668,960 73
8,858,494 35
$9,676,087 32

Amount remaining uncollected December 31, 1859, as per account
by the Receiver of taxes..............................................................

2,957,288 32

It was estimated at the beginning of the year 1859, that of the large amount
of personal taxes then due, not more than $300,000 would ever be realized, and
the results of the year show that said estimate was not far from correct; the
amount of such taxes at the above mentioned date was $1,744,649 28 ; and there
was remaining on December 31, 1859, as stated above $1,502,996 87 ; amount
settled in 1859 $241,652 39.
The follorving is a statement of the amount of taxes uncollected Decem­
ber 31,1858, the amount of the general tax levy for 1859, and the portions
of said taxes belonging to the city and county respectively :—
Total
amount.

Amount belong­
ing to the
city.

$3,874,137 22
9,860,926 09

Amount be­
longing to
the county.

$3,819,137 22
6,546,034 11

$25,t)00 00
3,314,891 98

$13,735,063 31

$10,395,171 33

$3,339,891 98

Taxes uncollected Dec. 31, 1858...
General tax levy for 1859.............

i
1
!
1

5
6

The collections made during the year 1859 by the Receiver of Taxes, and
interest thereon, and the respective proportions of such collections belonging to
the city and county, were as follows :—

Taxes of the year 1858, & prev. years
Taxes of the year 1859 ......................
Interest on taxes.................................

7




Total
amount.

Amount be­
longing to
the city.

$2,441,539 49
8,366,518 33
50,406 53

$416,539 49
5,554,012 91
48,071 50

Amount be­
longing to
the county.

$25,000 00
2,812,535 42
2,335 03

$8,858,949 35 $6,018,623 90 $2,839,870 45

80

Journal o f Banking, Currency, and Finance.

The proportion of the collections made by the Receiver of Taxes belonging
to the city as above stated is as follows :—
On account of interest on taxes..........................................................
On account of taxes.......................................... ................................

$48,071 60
5,970,552 40
$6,018,623 90

The amount transferred from the county treasury to the city treasury on ac­
count of the above collections, was—
On account of taxes.............................................
On account of interest on taxes..........................

$5,468,195 84
48,071 50
-------------------$5,516,267 34
Balance due to the city, December 31, 1859....... ..............................
502,356 56
V A L U A T IO N

OF P R O P E R T Y A S ASSESSF.D

FOR TA X E S.

The returns of the Commissioners of Taxes and Assessments for the year 1859»
show a continual increase in the valuation ol property within the county subject
to and assessed for taxes. The following table completed from the annual re­
ports of the Controller, exhibits the amount of such valuation for the last twentyone years:—
Tears.
1839...............
1840............... ...........................
1841...............
1842...............
1843............... ...........................
1S44...............
1845...............
1846............... ...........................
1847...............
1848............... ...........................
1849............... ...........................
1850............... ..........................
1851............... ...........................
1852............... ...........................
1853............................................
1854............... ...........................
1855............... ...........................
1856............... ...........................
1857............... ............................
1858............................................
...........................
1859........ .

Beal estate.
187,221,714

164,955,315

183,480,534
193,029,076
197.741,019
207,146,176
227,015,856
253,278,384
294,652,795
330,564,452
836,975,896
340,972,098
352,343,033
368,346,291
879,110,530

Personal estate.
$69,942,297
65,013,802
94,843,972
61,292,559
64,273,765
64,789,552
62,787,528
61,471,971
59,837,917
61,164,451
58,455,224
78,939,240
93,095,002
98,400,042
119,034,138
131,721,338
150,022,412
170,744,394
168,216.449
162,847,994
172,971,192

Total.
$266,882,431
252,235,516
251,194,920
237,805,151
229,229,081
236,727,143
239,995,518
244,952,005
247,153,303
254,193,527
256,197,143
286,085,416
320,110,859
351,768,426
413,686,933
462,285,790
486,998,278
511,740,492
520,559,482
631,194,290
552,081,722

According to the first annual report of the State assessors, just published, the
aggregate valuations of real and personal property of the whole State, as as­
sessed for taxes for several years, is as follows: —
1845............ ; ...............
1850.............................
18 54 ...........................

$606,646,096 1857.............................
727,494,583 1859.............................
1,364,154,625

$1,433,309,713
1,416,290,837

WAR STATISTICS.
M . K o l b , a North German professor of statistics, tells us that the recent w a r
in Italy cost Austria, France, Sardinia, and Germany 450,000,000 of Prussian
dollars, (about 1,700.000,000 f.) Austria expended 166,000,000 of dollars,
France about 190,000,000, Sardinia 48,000,000, and Prussia, Bavaria, Wurtemberg, Baden, Darmstadt, etc., 50,000,000.




Journal o f Banking, Currency, and Finance.
CITY

WEEKLY

N E W Y O R K BAN K RETU RNS. — (

c a p it a l ,

BANK
JAN.,

81

RETURNS.

1860, $69,383,632; 1859,168,050,755.)
Average

Actual

Circulation.
clearings.
deposits.
Specie.
Deposits.
17,863,734 8.539.063
97,493,709 22,684,854 74,808,855
Jan. 7
18,740,866 8,090,548
99,247,743 23,363,980 75,883,763
14
99,644,128 22,813,547 76,830,581
19,233,194 7,880,865
21
20,063,739 7,760,761
98,520,793 21,640,967 76,879,826
28
19,924,301 8,174,450
99,476,430 21,898,736 77,577,694
Feb. 4
19,787,567 8,185,109
98,146,463 21,674,908 76,471,055
11
20,691,189 8,050,001 100,387,051 22,061,811 78,325,240
18
20,773,896 7,928,595 100,622,481 22,151,504 78,470,977
25
Mar. 3
23,086,812 8,165,026 108,663,462 22.787.290 80,876,172
21,861,180 8,419,633 104,813,906 23,791,958 81,021,948
10
23,171,833 8,380,999 108,560,981 25,562,858 82,998,123
17
23,286,204 8,335,266
107,505,395 25,397,976 82,107,419
24
23.420,759 8,444,327 106,311,654 22,889,523 83,422,031
31
Apr. 7
22,599,132 8,929,228 109,193,464 25,656,629 83,536,835
23,626,982 8,775,297 109,153.863 24,256,270 84,897,593
14
21
23,233,314 8,790,459 108,145,233 25,758,735 82,386,498
28
23,279,809 8,749,048 103.206.723 21.391.290 81,815,433
May 5
23,815,746 9,891,861 108,505,388 26,546,063 81,959,325
12
22,780,387 9,153,811 108,038,848 27,802,174 80,236,674
19
23,735,193 9,035,522 106.229.724 25,339,444 80,890,280
23,431,773 8,826,473 104,433,136 24,309,496 80,123,640
26
June 2
24,535,457 8.774.063 104,268,785 22.888.107 81,380,678
9
23,785,581 8,999,948 103,386,091 22.776.108 80,609,983
b o s t o n b a n k s .— ( c a p i t a l , J a n ., 1859. ¥35,125,433; 1860, $36,581,700.)
Due
Due
to banks.
from banks.
Loans.
Specie.
Circulation.
Deposits.
7,545,222 6,848,374
Jan. 2 .
59,807,566 4,674,271 6,479,483 18,449,305
7,867,400 6,735,288
60,068,941 4,478,841 6,770,624 17,753,002
16 . .
7,784,169 6,516,532
23 . .
69,917,170 4,182,114 6,486,139 17,378,070
7,383,370 6,517,541
30 . .
59,491,887 4,172,325 6,199,485 17,483,054
7,259,703 6,656,460
Feb. 6 . . 50,705,422 4,249,594 6,307,922 17,900,002
7,426,539 6,593,702
13 . .
59,993,784 4,462,698 6,364,820 17,271,596
7,430 060 6,549,382
20 . .
60,113,836 4,577,334 6,305,587 17,597,881
7,700,530 7.480,954
27 . .
59,927,917 4,714,034 6,411,573 18,020,239
March 5 .
7,736,290 7,768,074
59,993,784 5,034,787 6,396,656 18,646,621
12 .
7,715,663 7,390,935
59,885,196 5,328,610 6,430,643 18,393,293
19 . .
60,258,208 6,446,840 6,405,084 18,660,205
8,351,016 7,804,222
26 .
60,180,209 5,627,961 6,328,273 18,742,817
8,473,775 8,0S0,218
60,050,953 6,045,703 6,340,268 19.262,894
A pr. 2 .
9,206,161 9,788,121
9 .
60,668,559 6,320,551 7.753,491
20,469,893
9,160,868 8,314,312
16 .
61,189,629 6,289,719 7,267,165 20,291,620
23 .
9,055,077 8,138,121
61,035,965 6,315,952 7,152,766 20,266,917
9,273,558 7,948,086
80 .
61,259,552 6,317,999 6,992,903 20,195,951
9,116,514 8,324,391
May 7 .
61,614,199 6,311,714 7,322,813 20,810,086
9,210,132 8,209,699
14 .
61,744,290 6,263,535 7,076,071 20,758,862
9,197,894 8,241,899
21 .
61,724,621 6,268,919 7,031,306 20,726,996
9,057,822 8,272,557
28 .
61,258,986 6,201,113 6,660,595 20,320,518
9,172,878 8,366,511
June 4 .
61,585,669 6,192,455 6,800,711 20,656,295
Loans.
124,597,663
123,582,414
123,845,931
123,088,626
124,091,982
123,336,629
124,206,031
124,398,239
125.012.700
127,302,778
127,562,848
127,613,507
128,388,223
130,606,731
129,919,015
128,448,868
127,085,667
127,479,620
126,184,532
124,938,389
125.110.700
124,792,271
125,431,963

PH ILA D E LP H IA BAN KS.— -( capital ,

Date.
Jan. 2 . .
9 ..
16. .
2 3 ..
3 0 ..
Feb. 6 . .
1 3 ..
2 0 .. . .

Loans .
25,386,387
25,248,051
25,275,2 19
25,445,737
25,526,198
25,493,975
25,493,975
25,458,354

V OL. X L I I I . — N O. I.




Specie.
4,450,261
4,453,252
4,56 ,998
4,514,579
4,53 5,321
4,669,929
4,669,929
4,581,356

JAN., 1860, $1 1,687,435.)

Circulation.
2, 356,601
2,675,623
2,672,730
2,644,191
2, 501,750
2, 556,310
2, 556,310
2, 563,695

Deposits.
14,982.919
14,161,437
14,934,517
16,064,970
15,401,915
15,409,241
15,409,241
14,864,302

Due banks.
2,619,192
2,596,212
2,563,449
2,601,271
2,619,573
2,574,015
2,574,015
2,782,806

82

Journal o f B anking, Currency, and Finance.
Loans.
28,563,918
25,742,447
25,742,447
25,882,077
26,043,772
26,405,229
27,214,264
27,444.580
27,545,351
27,571,002
27,590,212
27,463,831
27,401,926
27,288,932
27,171,002

2 7 ____
Mar. 6 . __
12____
1 9 ____
2 6 ____
April 2 ____
9 ____
1 6 ____
2 3 ____
3 0 ____
May 7 . . ..
1 4 ____
2 1 ____
2 8 ...
June 4 ____

Specie.
4,706,108
4,816,052
4,816,052
4,873,419
4,992,542
5,060,274
5,209,576
5,415,711
5,464,280
5,453,470
5,477,019
6,637,360
5,367,416
4,886,579
4,582,610

Circulation.
2,653,192
2,697,108
2,697,108
2.783,345
2,784,773
2,858,812
3,528,762
3,252,186
3,154,285
3,037,846
2,968,444
2,944,245
2,870,617
2,818,719
2,824,471

NEW ORLEANS BANKS.— (C APITAL, JAN.,

Jan. 7 . . ,
14
21
28
Feb. 4
11
18
25
Mar., 3
10
17
24
31
Apr,. 7
14
21
28
May 5
12
19
26

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

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

Short loans.
25,022,456
24,928,909
24,699,024
24,916,431
25,145,274
25,197,351
25,005,952
24,397,286
24,946,210
24,088,800
24,054,845
23,832,766
23,674,714
23,107,740
22,422,203
22,380,033
21,437,974
21,437,974
20,545,529
19,385,119
18,588,492

Specie.
12,234,448
12,336,735
12,821,411
12,818,159
12,750,642
12,741,881
12,894,521
12,945,204
12,952,002
13,089,092
12,729,356
12,610,790
12,437,195
12,368,071
12,290,539
12,100,687
11,910,361
11,910,361
11,672,364
11,706,007
11,593,719

Circnlation.
12,038,494
12,417,847
12,809,612
12,882,184
13,215,494
13,343,924
13,458,989
13,600,419
13,860,399
13,726,554
13,797,154
13,835,755
13,975,624
14,100.890
13,638,089
12,999,204
12,783,749
12,783,749
12,258,444
12,163,609
11,900,864

Deposits.
14,590,092
15,192,971
15,192,971
15,205,432
15,693,622
15,553,269
15,528,762
16,012,140
16,613,616
16,529.891
16,763,609
16,489,872
16,422,835
15,884,903
15,620,293

Due banks.
3,115,010
3,133,312
3,133,312
3,209,553
3,198,530
3,652,757
4,085,695
4,164,678
3,985,110
3,902,514
3,781,987
4,209,845
4,085,882
3,974,369
3,744,431

1860, $18,917,600.)

Deposits.
18,563,804
18,678,233
18,664,355
19,677,121
19,565,305
19,244,847
19,903,519
19,218,590
20,116,272
19,711,423
19,304,618
19,102,068
18,681,020
18,070,209
17,849,018
18,380,033
17,699,538
17,699,538
17,442,974
17,260,226
17,938,774

Exchange.
7,323,530
7,410,360
7,423,629
8,144,681
8,003,380
7,349,365
7,886,609
8,088,929
8,027,049
8,582,012
8,498,790
8,842,599
8,149,061
8,560,117
8,179,441
7,649,069
7,686,634
7,686,634
7,213,833
6,909,386
6,599,676

$4,160,200.’)
Deposits.
Circulation.
1,527,548
2,080,548
1,546,103
2,012,478
1,555,686
1,896,383
1,609,692
1,907,328
1,602,311
1,883,093
1,868,598
1,643,703
1,821,283
1,760,957
1,768,879
1,871,873
1,651,216
1,901,543
1,945,328
1,636,887
1,572,130
1,980,732
2,085,583
1,601,167
1,693,230
2,072,373
1,651,362
2,071,878
1,897,498
2,024,138
1,913,537
1,995,053
1,995,053
1,913,537
2,011,258
1,890,810
2,022,988
1,906,773
1,918,321
1,952,683
1,907,248
1,919,903

Distant
balances.
1,557,174
1,387,704
1,377,796
1,603,763
1,613,036
1,396,150
1,470,787
1,635,526
1,092,475
1,601,149
1,718,310
1,738,246
1,610,499
1,942,056
1,608,463
1,649,060
1,877,017
1,877,017
1,763,871
1,680,480
1,596,210

PITTSBURG B A SK S.---- (C A P IT A L ,

Loans.

Jan. 1 6 ..
2 3 ..
3 0 .. ...........
Feb. 6 . . . ...........
1 3 .. ............
2 0 .. ...........
2 7 .. ...........
Mar. 5 . . ...........
1 2 .. ...........
1 9 .. ............
2 6 .. ...........
Apr . 2 . . ...........
9 . . ............
1 6 .. ............
2 3 .. ...........
3 0 .. ............
May 5 . . ............
1 4 .. ...........
19. . ............
2 7 .. ............
June 4 . . ...........




6,989,320
6,984,209
6,939,052
6,957,621
7,022,230
7,101,459
7,035,624
7,066,774
7,038,891
7,166,377
7,206,737
7,159,568
7,278,279
7,2:34,761
7,2 34,761
7,263,197
7,196,493
7,190,192
7,282,963

Specie.
980,530
,022,273
1 ,003,037
997,589
951,638
988,306
991,377
1 ,018,255
999,093
1,004,750
981,560
1,005,415
990,962
1,018,445
1,156,278
1 ,141,373
1,141,373
1 ,088,851
1 ,133,719
1,122,057
1,089,751

Due banks.
304,562
255,076
265,804
230,426
191,222
176,061
224,434
273,843
197,007
198,556
192,411
191,101
171,100
187,255
240,143
176,671
175,671
215,765
213,944
206,316
277,978

Journal o f Banking, Currency, and Finance.
Exchange.

J an.

7 ............
14........
21........
28........
Feb.
4 ........
11........
18........
25........
March 3 ........
10........
17........
24........
31 ............
April 7 ............
14 ............
21 ............
28 ............
May
5 ............
12............
19 _______
26 .............
June 2 ............

3,908,996

3,963,924
3,880,915
3,862,454
3,868,345
3,852,614
3,694,877
3,609,648
3,683,644
3,695,707
3,767,986
3,879,617
PROVIDENCE BANKS.— ( c a p i t a l ,

Jan.
Feb.
Mar.
Apr.
May
June

2 .................
6 ............... ..
3.......... .
1 ...............
7 .......... .
4 ..........

Circulation.

538,555
520,305
602,175
495,380
467,095
424,605
391,605
899,085
395,905
377,935
377,355
356,245
340,095
344,630
325,950
314,360
306,750
301,300
294,115
285,140
273,540
255,210

83
Specie.

662,755
642,497
580,754
568,335
590,502
625,043
639,450
680,877
689,301
651,802
641,252
664,179
685,984
657,321
676,858
601,014
678,234
746,176
808,918
826,793
671,669
627,942

$14,903,000.)

Loans.

Specie.

Circulation.

Deposits.

Due banks.

19,144,354
19,144,846
19,009,255
18,686,210
18,893,658
18,891,907

815,917
326,297
342,965
343,992
448,413
422,726

2,011,336
1,958,540
1,917,593
1,952,022
2,045,590
1,938,254

2,635,486
2,566,168
2,598,169
2,640,170
2,773,248
2,844,012

938,508
921,779
970,971
1,040,260
1,356,071

FOURTH ANNUAL REPORT OF THE BOSTON CLEARING-HOUSE ASSOCIATION,

The committee herewith submit the Fourth Annual Beport of the Boston
Clearing-house Association, ending March 31, 1860.
Our financial affairs for the past year have not been signalized by any marked
or striking event of sufficient importance to be commented upon. For the most
part of the time, money has been in good supply, and the resources of the banks
have been fully adequate to meet the demands of the business public, who, we have
every reason to believe, have experienced little if any difficulty in obtaining dis­
counts on all good mercantile paper. The loans have been large, averaging, for
the year, more than $58,000,000 ; and, so far as we have the means of judging,
we should say that the banks have not suffered any material loss in this branch
of their business. If, however, short paper alone was discounted, we feel assured
that it would add much to the security of our banks, and be most beneficial in
shortening mercantile credits, increasing stability in business affairs, and check­
ing the expansions and sharp contractions which so often occur, and which natu­
rally tend to destroy confidence and produce panic.
The highest amount of specie held by the associated banks, as reported to the
clearing-house, for the year past, was on the 28th day of May last— being at
that time $7,103,300, or 25 88-400 per cent on their legal liabilities. The
lowest point reached during the year, was on the 25th day of January last—be­
ing $4,060,700, or 17 per cent on their legal liabilities, showing a loss, between
these dates, of $3,042,600.




84

Journal o j Banking , Currency, and Finance.

In this connection, your committee would take the liberty to suggest, that
the percentage of coin required by law to be held by the banks is a healthy
and judicious one, and a strict adherence to the spirit of the statute on this sub­
ject, by all the banks, would tend to maintain a greater uniformity in the mone­
tary affairs of this city.
Boston is the financial center and redeeming point of all the New England
banks; and, whenever the money market becomes unsettled, the circulation of
these banks—which is usually large, and easily disturbed—at once begins to flow
back to the city with great rapidity. Hence it is important that the Boston
banks should keep in their vaults a specie reserve adequate to meet any sudden
and temporary derangement in monetary affairs, without causing inconvenience
to our business public.
Two new banks have been admitted to the clearing-house since the last annual
meeting of the association—both organized under the general banking law of
this State, namely, the Revere and the Bank of the Republic, with an aggregate
capital of §1,650,000.
The increase of capital of the chartered banks since the 1st of April, A . D.
1859, has been §1,410,000. Of this amount, however, §610,000 has been added
under the general banking laws, and §800,000 under special charters. The in­
crease of capital to banks, during the same time, doing business under the gen­
eral banking law, has been §400,000, making a total increase of capital to banks
belonging to the cleariDg-bouse association, for the past year, of §3,460,000.
The exchanges for the year ending March 3 1,1860, were
<‘
“
“
“
1859, “

Clearings.
1,464,313,000
1,262,700,000

B alances.
127,197,000
111,823,000

The amount of certificates issued by the Merchants’ Bank to April 1, 1860,
was §14,590,500 ; amount canceled, §11,750,500 ; outstanding with the banks,
§2,840,000.
REVENUE FROM CUSTOMS IN UPPER AND LOWER CANADA.

The following table will show the amount derived from customs duties in Up­
per and Lower Canada :—
RECEIPTS OF CUSTOM DUTIES SINCE THE UNION.

1841..
1842..
1843..
1844..
1845..
1846..
1847..
1848..
1849..
I860..

Lower Canada.
£194,661 1 4
245,385 17 9
184,447 1 6
345,954 19 4
349,214 6 10
310,082 5 5
297,293 5 10
232,064 6 6
289,621 7 9
394,424 7 11

Upper Canada.
£31,173 6 6
33,544 9 7
57,125 7 6
95,376 5 10
100,745 14 10
112,132 13 3
117,339 19 8
101,965 2 3
154,935 17 4
221,270 5 9

1851..
1852..
1853..
1854..
1855..
1856..
1857..
1858..

Lower Canada.
480,040 15 6
446,803 6 3
590,903 2 5
676,336 9 2
398,088 7 0
574,735 12 5
563,081 1 11
521,600 12 6
7,094,739

5

4

Upper Canada.
257,398 4
392,460 6
437,773 13
648,415 15
488,357 5
552,484 18
418,181 14
323,746 15
4,439,416 14

8
6
2
6
5
0
0
0
9

From the foregoing it will be seen that the difference of duties received last
year in Upper and in Lower Canada, was £200,000 received more in Lower
than in Upper Canada, and to equalize the duties it would be necessary that at
least goods to the value of £2,000,000 currency should be obtained from Lower
Canada importers by the Upper Canada consumer or trader to equalize the du­
ties of customs.




,

85

J ou rn a l o j B a n k in g , C u rren cy a n d F in a n ce.
MINNESOTA STATE FINANCES.

Receipts into the treasury from all sources, from Jan. 1st, 1858, to Feb.
1st, 1859, at which time settlement was made with State Treasurer
Disbursements during the same period.................................................

$410,499 43

Balance in treasury, Feb. 1st, 1859...............................................

$4,063 56

Receipts into the treasury from all sources, (including previous balance)
from Feb. 1st, 1859, to Dec. 1st, 1859...............................................
Disbursements...................................................................... ............ .

$96,392 05
81,055 89

Balance in treasury, Dec. 1st, 1859...............................................

$15,339 16

Aggregate amount of receipts..............................................................
Disbursements from Jan. 1st, 1858, to Dec. 1st, 1859.........................

562,827 92
547,488 76

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

$15,339 16

466,435 87

Total amount of floating State indebtedness.........................................
$35,270 65
The unexpended balance of the several appropriations amount t o .. .
58,689 40
The total amount of taxable property of the State for the year 1858,
as far as returned to this department, is.......................................... 41,846,778 09
The State tax on the same, at the rate of five mills on the dollar, is
209,233 89

A large portion of the newly organized counties have failed to make returns,
although demand for the same has been made from this department upon every
organized county in the State.
Only a portion of the returns of the taxable property of the State for the
year 1859, have been received. From those already received, I estimate the
amount at $40,000,000, and the State tax at $200,000, which will become due
in February next.
The total amount of delinquent taxes, due from the counties, December 1st,
1859, is $149,790 67.
The amount of taxable property for the year I860 is estimated at $40,000,000 ;
a tax upon this amount of 2| mills on the dollar amount to $10,000, which,
with the large amount of delinquent taxes already due, it is hoped will be amply
sufficient for the support of the State government without embarrassment.

CINCINNATI PERSONAL PROPERTY.

We give below the personal property in the several wards, embraced in the
merchants’ and manufacturers’ stock, and moneys, from which some opinion of
the business interests of the city may be determined :—
Ward.
1st...
2 d ....
3 d ....
4 t h ..
5 t h ..
6t h . .
7 t h ..
8 t h ..
9t h ..
1 0 th ..

Merchants’ Manufac’rs’
stock.
stock.
$744,331 $440,192
771,560
2,089,638
580,688
1,373,681
948,195
3,795,460
145,331
443,780
86,255
170,213
67,098
110,261
57,817
108.691
58,613
92,530
80,263
216,118




Moneys.
$185,260
221,848
343,686
405,085
207,613
44,707
90,095
81,497
31,696
81,837

Wards.
1 1 th ..
1 2 th ..
1 3 th ..
1 4 th ..
1 5 th ..
1 6 th ..
1 7 th ..

Merchants’ Manufac’rs’
stock.
stock.
45,051
53,969
350,080
155,077
586,945
591,881
159,880
280,203
111,984
22,630
118,278
96,472
7,051
20,157

Moneys.
95,364
82,151
147,483
99,883
159,501
60,087
26,626

$10,432,422 $4,545,951 $2,354,379

86

Journal o f Banking , Currency, and Finance.
SAVINGS BANKS OF NEW YORK.

The following report, shows the gratifying fact that over §58,000,000 have
been saved by the people of New York, being an average cash deposit of over
$208. The following is the summary showing the aggregate of the resources
and liabilities of the savings institutions of the State of New York, as exhibited
by their reports to the Superintendent of the Banking Department of the State
of New York, J. M. C o o k , Esq., of their condition on the morning of the first
day of January, 1860:—
RESOURCES.

Bonds and mortgages...............................................................................
Estimated value of mortgaged premises........................
855,812,318
Stock investments, amount invested......................................................
Par value of stocks..........................................................
29,703,128
Estimated value of same.................................................
28,932,740
Stocks upon which money has been loaned, par value.
1,762,581
Amount loaned thereon...........................................................................
Amount loaned upon personal securities...............................................
Amount invested in real estate................................................................
Cash on deposit in banks........................................................................
Cash on hand, not deposited in banks.....................................................
Amount loaned or deposited, not included in above heads
Miscellaneous resources...................................................... .
Add for cents......................................................................

$22,844,594
29,597,774

1,233,904
55,237
1,101,791
4,845,890
919,961
120,945
33,212
88

$60,753,396
LIA BILITIE S.

Amount due depositors............................................................................
Miscellaneous liabilities..........................................................................
Excess of assets over liabilities...............................................................
Add for cents...........................................................................................

$58,178,160
23,097
2,552,085
54
$60,753,396

Number of institutions, 64 ; number of open accounts, 273,697.
Average to each depositor.......................................................................
Total amount deposited during calendar year, 1859...............................
Total amount withdrawn during calendar year, 1859...........................
Total amount received for interest during calendar year, 1859.............
Total amount of interest placed to credit of depositors, during calendar
year, 1859.............................................................................................

$202 91
30,808,383
23,308,109
3,049,924
2,610,912

VALUATION OF TORONTO.

The following is the annual (assessed) value of real and personal property in
the city of Toronto, siuce 1851 :—
1851....................
1852 ....................
1853 ....................
1854 ....................
1855 ....................

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

793,512
909,964
1,163,831
1,387,470

1856
1857
1858
1859
1860

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

From the above it will be seen that a steady increase took place in the annual
value of city property from 1851 to 1857, in which latter year it attained its
highest point. In 1858, after the terrible panic of the fall of 1857, a reduction
of $47,000 only took place, and this has been continued.




87

J ou rn a l o f B a n k in g , C u rren cy, a n d F in a n ce.
THE

corns OF JAPAN.

The following results of an authorized assay, in England, of Japanese coins
will probably be of interest at the present time, considering the intercourse which
has recently been opened with that country

Copange...................
«<

Half copangs..........
««

Eighth copangs.. . .
U
u
u
«
((
(4
ii

■

,—Proportion in 10,000 parts.—»
Of base
Of silver.
alloy.

No.

Weights in
decimals of
an oz. Troy.

Of gold.

1
2
3
4
5
6
7
8
9
10
11
12
13

.3621
.3626
.3658
.1826
.1820
.0532
.0535
.0537
.0534
.0530
.0534
.0535
.0530

5,680
5,670
5,668
1,910
1,986
2,949
2,970
2,981
2,969
2,922
2,982
3,026
3,142

10
10
7
44
34
35
14
9
26
44
8
4
4

4,310
4,320
4,325
8,046
7,980
7,016
7,016
7,010
7,005
7.034
7,010
6.970
6,854

The values of the metals in each coin are, on an average, as follows
—
8.

Gold.....................
Silver...................
Intrinsic value

17
••

Copangs.------------- s
d.

6
10

18

4

— Half Copangs.— »
s. d.
,

/—Eighth Copang.—\
s. d.

225 et’g
181 “

3
0

0
9

228 st’g
575 “

1 4
0 2

307 st'g
424 “

406 “

3

9

803 “

1

731 “

6

—calculated at the English mint price of gold, i. c.t £3 17s. 104<2. per ounce,
and of silver 3s, do.
ENGLISH CUSTOMS AND DUTIES.

Subjoined is a statement of the gross amount produced by customs duties
upon the principal articles of foreign and colonial merchandise during the past
year, compared with the three preceding years. Seventy per cent of the whole
is furnished by sugar, tobacco, and tea :—

1836.
Sugar....................... ♦........
Tobacco.................................
T ea .......................................
Spirits...................................
Wine ...................................
Other articles........................
Total.............................

£5,653,626
5,299,626
5,538,242
2,560,556
2,073.735
3,169,059

1857.
£5,370,725
5,253,431
5,060,C32
2,366,494
1,965,361
2,940,328

1858.
£6,223,436
5,454,216
5,186,171
2,246,467
1,827,087
3,218,475

1859.
£5,891,192
5,273,463
5,408,924
2,462,112
1,882,302
5,747,073

£24,206,844 £22,956,371 £24,155,852 £25,065,066

CASH SALES IN CUBA AND TWO PER CENT DISCOUNT.

The Cuba Messenger, published at Havana, remarks :— Since the early part
of 1857, when the Grocer’s Bank was established in this city, the rule of dis­
counting 2 per cent on all cash sales of provisions, &e., made on our wharves,
was also established. The wholesale grocers combined and agreed not to pur­
chase any goods unless the 2 per cent discount was allowed, and ever since it has
been like a law in our market. As we know that many merchants abroad, and
especially those who do not make regular shipments to this port, have made
inquiries in regard to this item, we think it proper and convenient to explain the
matter as we now d o ; and we will continue, from time to time, to explain all
other points which may interest or concern those who may trade or be interested
jn the commercial affairs of this island.




88

Journal o f Banking, Currency, and Finance.
ASSAY OF THE COINS OF JAPAN.

A number of Japan coins having been submitted to Col. J a m e s E oss S now­
d e n , the director, an assay has been made with results as follows :—

The coins are of gold, silver, brass, copper, and iron.
The principal gold coin is the cobang, of which we have three sizes, according
to the changes which have been made within the past sixty years. This coin is
of oval shape, very thin, soft, and easily bent; it is largely alloyed with silver,
but the silver being takeD out of the surface by a solvent, the coin looks like
line gold, until it has been a good deal worn. This accounts for the very pale
color of the first specimen ; and of another, in which we have scratched off part
of the surface, to show the true color.
No- 1, is a cobang, supposed to be about sixty years old. It weighs 201 $
grains ; it is two-thirds gold ; one-third silver ; or, as we express by thousandths,
is 667-thousandths fine. In its value, including the silver, is $5 95. It is of
oval form, quite thick, 2$ inches long, and 1$ broad.
No. 2, cobang, coined within a few years past, weighs 174 grains. It is foursevenths gold, and three-sevenths silver, very nearly ; the exact fineness in thou­
sandths being 568. The value including the silver, is $4 44. In size it is very
little smaller than No. 1.
Nos. 3 and 4, cobangs, of very recent date brought by the embassy for
assay. They are exactly alike, except one small mark. The weight is 138S
grains. Their fineness is about 571-thousandths, which is precisely four sevenths,
and appears to be the definite legal standard. The value, including the silver, is
$3 57 ; without the silver, §3 41. These are yet smaller than No. 2, but simi­
larly shaped.
Nos. 5 and 6, two small rectangular coins, with a gold surface, which (by
specific gravity) are about one-third gold. The weight is 25$ grains. Their
name and place in the series are not known to us. They are two-thirds of an
inch in length, and one-third in breadth.
No. 7, rectangular coin, is half the weight of the cobang, No. 2 ; but (by
specific gravity) contains little more than one-fourth gold ; the remainder ap­
pears to be silver. This piece, also, is not understood. It is one inch long and
one half an inch broad.
No. 8, also rectangular, is called the gold itzebu, is one-fourth the weight of
cobang, No. 2, and of the same fineness, very nearly. Value SI II. A little
smaller than No. 7.
Nos. 9 and 10 are the new gold itzebu, brought by the Embassy for assay,
and are one-fourth of the cobang brought by them. Value 89$ cents. A little
larger than Nos. 5 and 6. All the silver coins are rectangular, and rather thick.
No. 11, and old half-itzebu, silver, is one of several pieces which were given
to an officer of the United States Exploring Expedition, about the year 1840,
by some Japanese sailors who had drifted far out into the Pacific Ocean, and
were picked up and taken care of. Afterward, by the wreck of one of our ves­
sels, all the coins were lost except this one. It was our first specimen of
Japanese coin. The weight is 41 grains, and, being near fine silver, it is worth
a little over 11 cents. Same size as No. 8.
No. 12 is a silver itzebu, coined some years since, weighing 134$ grains 988
to 990 thousandths fine, and worth 36.9 cents. (Some specimens are fully 37.)
A little larger than No. 7.
No. 13 weighs 28$ grains, and appears also to be nearly fine ; value about 8
cents. Name not known. Same size as No. 8.
No. 14, a new silver itzebu, brought by the Embassy, (cut for assay.) It
weighs the same as the old itzebu, 134$ grains, but is 890 thousandths fine, which
is near our standard, (900.) Valued at 33.28 cents. Same size as No. 12.
No. 15, a large, thick piece of brass, oval, cast with a square hole in the center ;
said to be a piece of “ one hundred p’senny.” It is 2 inches long and 1$ broad.
No. 16, a copper coin, circular, with a hole in the center, size of our cent.
No. 17, an iron coin, circular, with rough edges, and with a hole in the cen­
ter, size of half cent.




89

Statistics o f Trade and Commerce.

STATISTICS OF TRADE AND COMMERCE.
WHALE TRADE OF THE NORTH PACIFIC.

The Sandwich Island papers state :—W e are able to make up for this mail a
full exhibit of the North Pacific whaling fleet. As a rule, we give the highest
reliable figures, for generally ships hail below their actual catch. The list em­
braces 218 vessels, classed as follows :—
American, (including “ William Tell ” lost)..................................................
Hawaiian, (including “ Faith” condemned)....................................................
French...............................................................................................................
Russian.............................................................................................................
Bremen and Oldenburg....................................................

194
11
7
4
2

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

218

Of the above fleet, there have arrived at the various ports of these islands this
fall 197, as follows :—
American.....................................
Hawaiian.....................................
French........................................

176 I Russian.........................................
8 Bremen and Oldenburg............ ...

4
2

7|

Of these, five are sperm whalers, bringing into port, as this season’s catch,
1,500 barrels sperm o il; and 192 are right whalers, hailing, as the season’s catch,
1,450 barrels sperm, 102,980 barrels whale oil, and 1,312,700 pounds bone. The
following tables exhibit the annual totals and average from 1852 to 1859, inclu­
sive. The average for the season has been 535 barrels of oil, and 6,802 pounds
bone. This average includes American, French, German, Hawaiian, and Rus­
sian whalers :—
TABLE SHOW ING THE NUMBER BAR RELS OIL AND POUNDS OF BONE TAKEN BY THE NORTH PA­
CIFIC W H A LIN G FLEET FOR THE YEARS

1852-1859,

(INCLUDING

ONLY VESSELS THAT

HAVE RETURNED TO THE SANDW ICH IS L A N D S ,*) AND GIVIN G THE AVERAGE FOR EACH
SEASON.

No.

Year.
1859.
1858
1857.
1850.
1855.
1854.
1858.
1852.

.
.
.
.
.
.
.
.

whalers
arriv’d.
197
218
165
177
250
245
252
275

No.

right r—Total on board.—n
-Season’s C£itch.----------.
whal’rs. Sperm.
Whale. Sperm. Whale.
Bone.
192
6,500f 125,000f 2,950 102,980 1,312,700
211 13,935
182.300 1,555 129,240 1,661,700
151 16,595
162,976 3,079 124,460 1,591,543
170
9,013
195,255 3,337 135,708 1,523,650
221
......... X 6,242 225,625 2,443,250
........ t
232
........... 1 4,276
191,843 2,69S,180
.......i
244 20,857
3,448,300
364,520
____ % 280,360
271
17,247
421,585
____ % 337,124
5,357,737

,— Average.—^
Whale. Bone.
535
6,802
620
7,904
845 10,540
830
9,015
1,081 11,110
827 11,200
1,190 11,728
1,244 15,815

Annual average for the last six years to each vessel, 758 barrels oil.
The average of the North Pacific fleet refers only to right whalers, and is ob"
tained after adding together their sperm and whale oil taken during the last
season.
Seamen have been abundant. One fact, however, has been remarked—that
foreign seamen generally dislike to ship again for the North, and prefer shipping*
* The “ Faith’s” cargo is included in the average.
t These figures are estimated; no complete record has been kept this season o f the actual amount
on hoard all the vessels.
X No report is obtainable for these years.




90

Statistics o f Trade and Commerce.

on homeward-bound vessels. Their places are supplied by natives of these and
other Pacific islands, who are preferred by many captains. They make go'od
whalemen, and are generally content with smaller lays and advances.
Comparing this season’s average with those of former years, it will be seen
that there is a large and steady falling off, amounting this season to nearly 200
barrels, a decrease which is too heavy and too important not to have a serious
effect on the future prosecution of the whaling business in the North Pacific.
An important question naturally arises here :—is this merely a temporary de­
crease, or is it likely to be permanent? Those who have the best opportunities
for judging correctly think that it will be permanent—that the whales are an­
nually decreasing in number and size, particularly on the Kodiack and Ochotsk
grounds. If such be the case, there can be no reasonable hope held out that the
large averages of 1851, ’2, and ’3 will occur very soon again, nor, indeed, that
anything better than the averages of the past two years can be depended on in
future. This decrease of oil and scarcity of whales is not, however, confined to
the North Pacific. All the old resorts of whalemen—the New Zealand, the
Off Shore, the Line, and other cruising grounds— are annually becoming less
productive. Not half the sperm oil is taken now, per ship, that was taken twenty
years ago.
On the Kodiack the whales were remarkably scarce this season. Some fifty
ships visited that ground in the spring, but not more than three or four thousand
barrels of oil were taken there. Prom thence the ships cruise northward, in
June and July, through Bristol Bay, where a few whales were seen and captured.
Several vessels cruising off Cape Thaddeus in June fell in with whales bound
North, and captured a number. It was here that the “ Eliza Adams,” “ Mary
and Susan,” “ Magnolia,” “ Hibernia,” and several others obtained their good
fares. These whales, it is thought, were bound North into the Arctic from the
Ochotsk bays, where they are said to breed, and leave their calves when a few
months old.
The whalemen inform us that the whales captured in the Ochotsk this season
were generally small, many of them being mere calves, affording but a few bar­
rels of oil. I f this is the case, and the young whales are being thus destroyed,
the Ochotsk Sea will very soon be rendered valueless as a cruising ground.
Some captains with whom we have conversed have advanced the theory that the
numerous whales that abound in and beyond the impenetrable ice barriers of the
Arctic, annually come South to the bays along the Asiatic and American shores,
where they breed, and stay by their young till four or five months old, or till
the ice begins to break up, when they migrate to the Arctic Seas again, leaving
their young ones to care for themselves. The ice fields of the Polar Sea are
always found to abound with whales, which seem to delight in being in the ice.
This instinct does not appear to arise from any fear of man, but is a natural one.
From vessels that have cruised in the Arctic, we learn that the weather has
generally been better than in former seasons, but the whales very swift, and in­
clined to keep close to the ice. The great northern ice barrier is stated to have
come much farther south this season, and appears to have changed the usual
course of the currents of the Arctic. By some of the ships whales were observ­
ed in countless numbers, but generally in the ice or in very rough weather, when




91

Statistics o f Trade and Commerce.

a boat could with difficulty be lowered. One fact appears settled, that whales
in the Arctic are as numerous now as they ever were, but that, owing to the
generally stormy weather there, and the fact that whales keep in the ice fields, it
is the most uncertain whaling ground in the Pacific.
LOSS OF OCEAN STEAMERS,
Ocean steam navigation affords a pretty severe test of enterprise, when we
consider the pecuniary hazards with which it has to contend, arising from the
defective management, distribution of patronage, and perils of the sea. From
its earliest history, disasters have, been frequent, and seem to become more
numerous in proportion as the number o f steamships is increased. Going back
to the memorable loss of the “ President,” in 1841, the principal disasters to
British and American steamers, mostly running on trans-Atlantic routes, may
be summed up as follows:—
Value of YesLives lost
sel and cargo.
President, British , ..............................................................
130
$1,200,000
Arctic, American...................................................................
300
1,800,000
Pacific, American.....................................
240
2,000,000
San Francisco, American.....................................................
160
400,000
Central America, American............. ' ...................................
887
2,600,000
Independence, American.......................................................
140
100,000
Yankee Blade, American... .................................................
75
280,000
City of Glasgow, British........ ..............................................
420
850,000
Union, American..................................................................
none
300,000
Humboldt, American................................ ........................
none
1,600,000
Franklin. American................................................................
none
1,900,000
City of Philadelphia, British................................................
none
600,000
Tempest, British....................................................................
160
800,000
160
280.000
Lyonnais, French...................................................................
Austria, German....................................................................
456
850,000
Canadian, British...................................................................
none
400,000
Argo, British..........................................................................
none
100,000
Indian, British........................................................................
27
125,000
Northerner, American............................................................
32
75,000
Hungarian, British, (about)...................................................
120
270,000
Total..........................................................................

2,807

115,930,000

Showing that a fleet of twenty fine steamers, many of them first-class, have
been totally lost within the period named. The President, Pacific, City of Glas­
gow, and Tempest, were never heard from ; the Arctic, San Francisco, and
Central America, foundered ; the Independence, Yankee Blade, and Northerner,
were wrecked on the Pacific, and the Canadian, Humboldt, Franklin, Argo, and
Hungarian, on the Atlantic coast; the Lyonnais was sunk by collision, and the
Austria was burnt. N ot enumerated in this list are two-thirds as many more,
generally of a class much inferior, which were lost in the California trade. The
casual reader may derive a more distinct impression in regard to the appalling
loss of life here recorded, but there are many homes where no fresh recital is
needed to recall the memory of the loved and lost.
BRITISH TRADE RETURNS FOR THE YEAR ENDED DECEMBER 31, 1859.

The declared value of the exports of produce of the United Kingdom was
£130,440,427, or 13 per cent in excess of that of the preceding year. This is




92

Statistics o f Trade and Commerce.

the largest total ever attained, the amount in 1857, the great year of inflation,
having been only £122,066,107. In cotton manufactures alone the improve­
ment on 1858 was £5,320,897, or 16 per cent, and in woolen, silk, and linen
manufactures, as well as in the metal trade, the augmentation has been very
large. “ Haberdashery,” which includes all kinds of ready-made clothing, ex­
hibits an extraordinary increase, and the same is the case with regard to hard­
wares, which likewise depend in a great degree upon the activity of our colonies.
There is scarcely a single item on the unfavorable side. Wool presents a falling
off of £262,374, but this is simply from the fact that the demand for raw material on the part of our manufacturers has been such as to leave little for expor­
tation. A reduction observable in cotton and linen yarn also is evidence on the
present occasion that the activity of foreign manufactures has not kept pace
with that of our own. The subjoined table gives the exact increase or decrease
under each head :—
DECLARED VALUE OF EXPORTATIONS.

Apparel and slops........
Beer and ale..................

Coal and culm...............
Cordage........................
Cotton yarn..................
Earthenware.................
Fish...............................
Furniture......................
Haberdashery...............
Hardwares....................
Linen yarn....................
Machinery......................
Iron and steel...............
Copper and brass..........
Tin.................................
Oil seeds.........................
Painters’ colors..............
Pickles and sauces........
Plate and jewelry.........
Salt................................
Silks..............................
Soap...............................
Soda...............................
Spirits............................
Stationery.....................
Sugar, refined................
W ool.............................
Woolen yam..................
Unenumerated articles..




1858.

1859.

1,943.358
1,851,755
890,584
541,053
157,618
90,718
3,045,434
166,625
33,421,843
9,579,479
1,153,579
576,737
258,022
669,205
3,462,832
3,277,607
2,012,916
4,124,356
1,746,340
3,599,352
11,197,072
2,855,021
616,215
1,621,849
844,978
380,559
289,910
455,006
286,222
2,096,300
209,503
813,727
206,4*29
803,738
362,472
902,341
9,776,944
2,966,743
7,954,284

2,191,432
2,116,207
■478,287
717,395
187,830
137,564
3,266,174
190,900
38,742,740
9,465,704
1,313,364
458,739
241,902
607,578
4,288,780
3,826,030
1,997,703
4,607,245
1,684,489
8,701,094
12,327,093
2,600,307,
668,037
1,884,380
930,875
460^874
341,824
495,162
253,575
2,351,839
225,918
1,024,283
305,900
840,172
343,958
639,967
12,032,831
3,080,306
9,412,469

116,608,756

130,440,427

Increase.
248,074
264,452
87,703
176,342
30,212
46,846
220,740
24,275
5,320,897

Decrease.

113,775
159,785
117,998
16,120
38,373
825,948
548,423
15,213
482,889
61,851
101,742
1,130,021
254,744
51,822
262,531
85,897
79,815
51,914
40,156
32,647
255,539
16,415
210,556
99,471
36,434
18,514
262,374
2,255,837
113,563
1,458,185

93

Statistics o f Trade and Commerce.

Subjoined are the quantities of provision, &c., imported and taken for home
consumption :—
*----------- Imported.----------- »

18§8.
Grain, wheat........
Grain of other kinds.. . .
Indian corn...........
Flour and meal .. . .cwt.
Bacon, pork, lard, <BtC. . .
Butter and cheese.
Animals................ ...N o.
E g gs....................
Cocoa....................
Coffee....................
Sugar...................
Tea....................... ..•lbs.
R ice....................
Spirits.................... galls
Wines...................
Tobacco................ ..lbs.
Currants & raisins . .c w t .
Lemons & oranges . . . bu.
Spices..................
“
................

4,241,719
4,087,679
1,750,825
3,860,764
576,289
751,653
285,048
134,685,000
10,338,404
60,697,265
9,010,796
75,132,535
3,692,023
8,506,055
6,791,636
62.217,705
939,865
972,653
16,082,218
72,254

Taken for liome consumption.

1859.
4,000,922
3,905,842
1,314,303
3,330,770
583,710
832,210
347,341
148,631,000
6,006,769
65,353,029
9,098,880
75,077,452
1,450,090
11,056,671
8,196,026
50,671,264
986,919
1,103,296
11,614,903
33,833

The following are the comparative imports and exports
-Imported.-

1858.
Flax.........................cwt.
Hemp.............................
Raw silks..................lbs.
Cotton.................... cwt.
Wool......................... lbs.
Tallow..................... cwt.

1,283,905
882,110
6,227,576
9,235,198
126,738,723
1,235,789

1859.

1858.
4,275,435
4,135,382
1,762,320
3,894,972
Free.
740,000
Free.
134,552,000
3,071,115
35,338,111
8,746,729
73,217,484
1,761,865
4,561,735
6,697,224
34,110,751
643,338
983,777
4,760,677
20,689
ta w

4,023,578
3,954,814
1,321,633
3,357,250
Free.
818,7 59
Free.
148,714,400
3,480,987
34,492,947
8,905,744
76,362,008
1,306,672
4,911,676
7,262,965
34,791,262
785,970
4,077,820
5,015,737
21,049
liiix tc iitu

.

-Exported.--

1859
1,432,037
1,088,249
9,920,891
10,946,331
133,374,634
1,074,336

1858.
2,314,519
1,535,800
26,702,542
22,997

1859.
2,152,327
1,563,778
29,106,750
6,791

Of silk manufactures the total stands thus :—
,---------- Imported.---------- ,

Silk maD jf. of Europe, lb.
“
“
of India, pcs.

Taken for home consump­
tion.

1858.

1859.

1858.

1859.

827,652
207,081

987,080
343,034

812,895
83,012

954.872
47,774

The annexed summary shows the manner in which the 47 articles that are hence­
forth to be retained in the British tariff may be classified, only 16 being for rev­
enue, and 13 being terminable at specific dates :—
1. Articles on which a duty is to be levied for revenue purposes
Chicory,
cocoa, and chocolate, coffee, corn and flour, currants, figs and fig cake, pepper,
plums, prunes, raisins, spirits, sugar, tea, tobacco, wine, wood.
2. Articles on which a duty is to be levied to countervail a duty of inland
revenue :— Beer or ale, of all sorts, hops, cards (playing cards,) dice, malt, plate,
(gold or silver,) vinegar.
3. Articles on which the duties are to cease on and after a specified date :—
March 31, 1861, corks, hats or bonnets. February 1, 1861, plating, gloves of
leather, of all sorts.
4. Articles containing sugar to be charged with duty until the 1st of July,
1861
Almond paste, cherries (dried,) cocoa paste and chocolate, comfits,
(dried,) confectionery, ginger (preserved.) marmalade, plums (preserved,) succades _
5. Articles of farinaceous character, to be rated as flour :—Arrow-root, bar­




94

Statistics o f Trade and Commerce.

ley, (pearled,) biscuit and bread, cassava powder, potato flour, powder, (hair,)
powder, (perfumed,) powder, (other sorts,) rice, sago, semolina, vermicelli and
maccaroni.
SUMMARY.

1. Articles for revenue...................... 16 4. Articles containing sugar, ditto...
2. Articles countervailing................
7 5. Articles of the same class as flour
3. Articles paying duty to fixed dates
4
Total of articles................................................................................................

9
11
—
47

WHEAT TRADE,

The following- table shows the imports and exports of wheat into France and
England for many years, with the exports from the United States in a corre­
sponding period. The general result is an increasing trade between the United
Stales and Europe in breadstuffs. The French wheat includes flour :—
IMPORT AND EXPO RT OF W H E AT INTO AND FROM FRANCE AND THE UNITED 8TATES, AND
IM PORT OF W HEAT AND W H E A T FLOUR IXTO GREAT BRITAIN.

,------ Great . Britain.------ »
Imports.
Flour.
Wheat.
Bush.
Cwt.
19,278,032
1,130,754 21,777,440
7,520,990
'436.878
8,792,616
980,645
945,864
6,973,680
3,198,876 11,460,728
6,329,058 21,251,232
1,765,475 20,752,104
3,349,830 32,763,024
3,855,059 30,036,745
5,314,414 40,496,072
3,889,583 25.551.136
4,646,400 35,595,512
3,646,505 26,448,816
1,904,224 21,342,608
3,970,100 32,582,664
2,178,148 27,503,656
3,860,764 37,175,471
3,330,770 32,008,298

Y ears.
1841
.
1842
.,.
1843...........
1844...........
1845...........
1846........... ,.
1847........... ,.
1848........... ,.
1849........... ..
1850........... .
1851........... .
1852...........
1853........... .
1854........... .
1855........... ..
1856........... .
1857........... .
1858............ .
1859............ .

-Fnmce.---------- 1 ,------ United States.------ ,
Exports.
Imports.
Exports.
Flour.
Wheat.
Wheat.
Wheat.
Bush.
Bbls.
Bush.
Bush.
3,754,982 5,077,233
4,514,543 6,462,949
841,474
9,093,692 3,388,212
811,685
5,172,060 5,768,207
558,917 1,436,575
6,900,238 3,654,585
389,716 1,195,230
16,624,422 3,467,833 1,613,795 2,289,476
28,754,658 4,154,427 4,899,951 4,382,496
4,494,199 3,576,546 2,084,704 2,119,083
1,864,217 5,002,152 1,527,534 2,108,013
2,772,081 6,919,398
608,661 1,385,448
2,003,943 6,327,735 1,026,725 2,202,335
4,126,640 4,014,107 2,694,540 2,799,389
10,103,107 2,101,206 3,890,141 2,920,918
18,972,988 1,053,132 8,036,665 4,022,886
12,165,022
822,256
798,844 1,204,540
28,769,782
572,168 8,154,877 3,510,626
15,865,574 1,344,063 14,570,331 3,712,053
8.927,380 19,336,320 8,926,196 3,512,169
4,425,244 23,278,601 3,002,016 2,431,828

BEET ROOT SUGAR PRODUCT UV THE ZOILVEREIiV.

The following is the quantity of beet roots manufactured into sugar in the
Zollverein for the last two years

1858.
Prussia...................................
Brunswick.............................. ..............
Baden..................................... ..............
Wurtemberg........................... ..............
Bavaria...................................
Thuringia................................
Saxony....................................
Hanover.................................
Hesse.....................................
Total................................

1,293,352
1,139,735
935,325

Factories.
221
14
1
6

1859.

2
3
2
1

31,600,308
2,623,440
798,126
4,157,915
421,780
15,770
136,131
303,845
15,770

251

36,668,557

7

The sugar product is about seven per cent, amounting to 1,927,680 cwt. in
1858. and 2.600,000 in 1859.




95

Statistics o f Trade and Commerce.
GOLD EXPORTS OF CALIFORNIA,

San Francisco papers contain the full returns of the gold trade and general
commerce of that port for 1859, of which an abstract was furnished some days
since through our overland dispatches.

W e copy as follows :—
1857.

Gold exported to—
New Y ork ..........
England...............
New Orleans___
Panama................
China..................
Sandwich Islands..
Manilla................
.................................
............................... .
Chili...................... .................................

32,000
41,500
33,479

1858.
$85,578,236
9,265,739
313,000
299,265
1,916,007
98,672
49,975
631
14,500
11^500
2^000

1859.
$39,881,937
3,910,840
314,500
279,949
3,100,756
142,190
26,200

Japan ..................

34,000
.................................

220,296

500

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

848,976,696

$47,548,025

$47,740,462

The total imports of treasure w ere:—
From Mexico..........................................................
Chili.
Australia......................................................
Sandwich Islands........................................

$2,431,021
14,852
4,885
28,785

Total for 1859........- .......................
Total for 1858.................................

25
00
00
96

$2,478,544 33
2,323,501 49

SUGAR PRODUCT, 1859.

The total production of sugar has been for several years comparatively as fol­
lows :—
PRODUCTION

Cuba ..................tons
Porto Rico..................
Brazils.......................
United States............
West Indies, French..
“
Danish. .
“
Dutch...
“
British..
East Indies.................
Mauritius....................
Java............................
Manilla.......................
Total cane..........
France........................
Belgium......................
Zollverein...................
Russia.........................
Austria......................

OF

SUGAR.

1849.

1854.

1855.

1856.

1857.

1859.

220,000
43,600
121,000
98,200
56,300
7,900
13,000
142,200
73,400
44,700
90,000
20,000

349,502
40,107
114,509
224,662
78,780
10,000
17,102
172,215
40,121
101,000
74,771
41,908

375,475
41,058
113.754
173,817
•81,713
9,711
16,701
146,498
37,104
107,235
69,210
46,210

357,347
53,377
105,603
115,713
110,000
11,204
18,291
147,911
58,383
115,000
68,240
48,422

369,610
35,660
125,000
36,903
106,686
12,212
19,000
146,925
57,822
110,000
72,911
42,210

415,000
50,000
75,000
105,000
110,000
8,500
14,000
180,000
160,000
120,000
110,000
60,000

915,300 1,264,677 1,207,986 1,209,491 1,134,959 1,307,500
38,000
5,000
83,000
13,000
6,500

76,951
8,760
70,821
17,192
14,211

44,669
9,000
73,981
18,192
17,111

92,197
9,180
80,753
21,207
19,102

83,126
10,101
87,819
22,208
19,892

115,000
17,500
115,000
40,000
70,000

95,500 187,935 162,953 222,439 222,646 357,500
Total beet-root..
Grand total........ 1,010,800 1,452,612 1,370,939 1,431,930 1,357,605 1,665,000




96

Statistics o f Trade and Commerce.
BURNING OF COTTON AT SEA,

W e copy from the New York Herald the following list of vessels, laden with
cotton, that have been destroyed by fire since the 1st of January, 1859. It
appears that sixteen of that class of vessels have been burnt since the above
date, at an estimated value of $2,247,000. Eight of those, or one-half of them,
were burnt in port, caused by the stevedores smoking their pipes, and droppingfire into the cotton. A portion of those burnt at sea are supposed to be from
ignition caused by the concentration of the sun’s rays through the decklights :—
LIST OF FIRES IN COTTON LADEN VESSELS.

18§9—60.

Nam e.

From.

Destination.

Value.

Charleston..........Liverpool.............
8160,000
At New Orleans. Cork...................
76,000
At New Orleans.Cronstadt..................
150,000
200,000
New Orleans.. . .Liverpool............
New Orleans.. . .Queenstown . . . .
150,000
.Savannah............At Liverpool.......
50,000
Apalachicola.. . .Norwich..............
80,000
.New Orleans.. . .Liverpool-..........
250,000
.New Orleans... .Liverpool............
800,000
.At New Orleans.Liverpool............
200,000
.Mobile............... Liverpool.............
275,000
.At Apalachicola.Rotterdam..........
50,000
.At New Orleans.Liverpool............
120,000
.At Apalachicola.Antwerp.............
70,000
. At Savannah..... Philadelphia........
7,500
.At Apalachicola,Liverpool............
160,000

Jan. Ship Oakland..................
Feb. Ship Mary and Adeline..
“
Ship Yanguard................
“
Ship Monticello...............
May Ship Pleaides................
“
Bark Thames, (Br)..........
June Bark Amy......................
July Ship Stalwart.................
“
Ship Sarah Minot..........
Sept. Ship Helois.....................
Dec. Ship f m . Stetson..........
Jan. Bark Gleaner.................
Mar. Ship Independence.........
April Bark Fanny Holmes.. ..
“
Schooner R. L. Tay......
May Ship Switzerland..........

$2,247,000

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

OHIO WOOL PRICES.

The following table shows the value of Ohio fleece wool in October of each
year, from 1840 to 1859, from actual sales :—
Firsts. Seconds. Thirds.

1 8 4 0 ..............
1841...............
1842...............
1 848.. .
1 844...............
1845...............
1 846...............
1847...............
1848...............
1849...............

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

45
50

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

41
42
364
84

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

32
41

Firsts. Seconds. Thirds.

86
45

31
1850................. . . . .
40
1851.................
a 35
1852................. ____
35“
30
1853................. ___
3 2 i 1854................. ____
37
30
26
1855.................
30
264 1856............... ____
29
25
1857.................
38
34
1858................. ____
32
1859............... ____
37

Showing an improvement in the finer kinds especially.
in August is given, as there were no sales in October.

47

42
33

49

36
42
40
43
32£

55

45
50
36
42
47
49

37

53

46

36

58

49

35

65
42

34

37

For 1857, the price

CEYLON EXPORTS OF PRODUCE, OCT. 1 TO SEPT. 30.

The chief articles of export from Ceylon have been as follows :—

1855 %
planta. and native, cwt.
Zimmt.................................. lbs.
Rice.....................................cwt.
Cocoa oil........................... galls.
C offee,




446,498
1,009,391
12,540
956,960

• 185fi '¥ 1.
545,913
711,905
32,818
1,824,609

1857 ’ 5 8 .
552,643
805,586
15,673
1,178,851

1858 ’ 59.
584,562
719,831
18,858
980,882

97

Statistics o f Trade a n d Com m erce.
BRAZIL TRADE.
IM PO RT AND STOCK OF FLOUR, ETC., FROM

Year.
18 48____
18 49____
1850____
1 8 5 1 ____
1852____
1853____
1854____
1855____
1856____
1857____
1858 . . .
1859____
18 60____

Flour im- Flour impotted from ported
the United from elseStates.
where.
226,613 18,298
188,078
8,777
180,689 26,399
252,419 25,618
228,412 18,886
272,001 25,450
176,723 34,703
227,306 73,662
301,729 15,675
355,858 15,846
372,976 29,179
336,133 32,459

1848

TO

1860.

Total
Consump- Stock
flour
tion of
on hand Flour reimported.
flour.
1st Jan’y. exported.
244,911 139,885 32,000
57,860
196,865 146,594 79,809
54,713
206,918 159,621 67,000
48,181
278,036 165,850 68,000 129,601
247,248 145,996 50,000
49,608
297,460 161,593 40,000 150,850
211,426 166,821 25,000
56,605
300,868 163,599 13,000
70,269
317,404 185,687 80,000 151,716$
371,704 223,621 60,000 128,083
402,155 237,631 80,000 144,524
368,692 258,258 100,000 135,384
75,000

Prices of
No.
1st quality Amer.
flour 1st vessels
January, arriv’d.
20 a 21
319
17 a 18
437
15 a 16
314
300
15 a 16
14 a 15
250
20 a 21
267
231
219
2 5 1|500
332
221 a 25 | 295
2 2 1|
275
18 | a 201 297
15 a 16 | 806
16 1 a 17

SUGAR AND COFFEE IN EUROPE.
IMPORTS AND STOCKS OF SUGAR AND COFFEE AT THE PRIN CIPAL EUROPEAN PORTS, FOR THE
TW E L V E MONTHS ENDING S lS T DECEMBER,

1858

AND

1859.

SUGAR.

/------- Imports.--------1

/— Stock 31st Dec.—n

185S.

1859.

1858.

Tons.

Holland*...............................
Antwerp...............................
Hamburg...............................
Havre....................................
Bremen.................................
Trieste...................................
Genoa...................................
Leghorn.................................

Tons.
97 200
14,490
26,500
50,370
8,480
11,060
26,780
9,840

Tons.
10,600
1,160
1,620
380
100
7,320
2,720
1,100

Tons.
7,100
2,020
5,750
14,060
690
4,720
5,790
1,130

Continent..............................
Great Britain........................

244,720
428,700

25,000
90,500

41,260
96,500

673,420

115,500

137,760

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

1859.

COFFEE.

--------- Imports.-------- ,

1858,
Tons.

Holland................. .. .............
Antwerp................................
Hamburg..............................
Havre....................................
Bremen............................. . ................
Trieste.................................
Genoa.................................. ..................
Leghorn...............................

4,960

Continent.....................................
Great Britain.........................................

23,640

4,950

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

1859.

/—Stock 3 l8 t Dec.—,

1858.

1859.

Tons.

Tons.

61,620
11,400
39,250
22,620
6,870.
10,020*
6,840
1,630

Tons.

35,750
3,600
7,000
2,000
990
2,810
490
620

32,850
1,900
8,250
3,370
210
2,350
340
130

160,250
26,190

53,260
8,370

44,400
8,800

186,440

61,630

53,200

* The stocks in Holland are in first hands only; in all other countries in first and second hands.
Y O L . X L I I I .-----N O . I .




7

98

Statistics o f Trade and Commerce.

PROGRESS OF BRITISH SHIPPING-RAPID INCREASE OF STEAM TONNAGE.

The Liverpool Mercury, in a recent number, presents the following review of
the shipping interest of Great Britain :—
It appears from a return just laid before Parliament, that the number of
British registered vessels employed in the home and foreign trade has increased
from 17,828 in the year 1855, to 19,670 in the year 1859 ; that the tonnage has
increased from 3,990,170 tons to 4,269,109 tons, and that the number of men
employed, exclusive of masters, has increased from 168,537 in 1855, to 172,506
in 1859. There is, therefore, a considerable increase of vessels, tonnage, and
seamen employed in 1859, but that year is not the best of the series, for in 1858
the number of vessels was 20,071. the tonnage was 4,325,242, and the number
of men employed was 177,832. The pressure on the shipping interest, which
was no doubt very severe in the year 1859, although somewhat diminished in
1860, was the cause of the difference. There are fluctuations from year to year,
but always a considerable increase if a period of four or five years is taken.
It appears, however, from this return, that a great change is taking place in
the proportions between the steam and sailing vessels of this country. As re­
gards the sailing vessels, the increase is only from 3.701,214 tons in 1855, to
3.879.592 in 1859 ; whilst in steam vessels the increase in that period is from
288,956 tons to 389,515. This, it will be seen, is a very much more rapid rate
of increase. The tendency in the British mercantile marine is very strong to
substitute the rapid and regular power of steam for the baffling and uncertain
power of wind, and this tendency will become still stronger if the experiments
which have been tried by the Pacific Ocean Steam Navigation Company in
economizing fuel should be as successful as they are expected to be. According
to statements made with regard to the result of these experiments, the saving of
fuel is from one-half to two-thirds. A much smaller saving of fuel than this
would cause a very great extension of steam navigation, and effect its employ
ment in trades in which no one has hitherto thought of applying it.
The increase in the tonnage of the sailing vessels employed in the home trade
is from 691,128 to 777,422 tons, whilst the increase in the tonnage of steamers
employed in the home trade is from 57,415 to 90,867 tons. There is no increase,
but a decrease from 210,114 to 132,768 tons in British vessels employed partly
as home trade ships and partly as foreign-going ships, whilst in steam vessels
engaged in that trade there is an increase from 12,562 tons to 21,123 tons. In
foreign-going ships the increase in sailing vessels is from 2,799,972 tons to 2,877,527
tons. The total increase in sailing vessels is thus from 3,701,214 tons to
3.879.592 tons, whilst the increase in steam vessels is from 288,956 to 389,515
tons.
An increase of 100,000 tons of steam shipping is equal to more than an in­
crease ol 200,000 tons of sailing shipping, whether we consider the cost of con­
struction or the power of navigation. One thing is quite clear through all these
returns, namely, that the mercantile steam marine of this country far surpasses
that of all other nations in extent, and is increasing' in a much greater ratio than
that of any other nation. The consequence of this is that the British steamship
owner has the carrying of nearly all the first-class passengers who cross the ocean,
and of all the finer and more profitable articles of merchandise conveyed to or
from this country. As far as second-class passengers and heavy goods are con­
cerned, the American and the British shipowners divide the greater part of the
trade of the world between them.
UNITED STATES TRADE WITH MARSEILLES.

During the year ending Dec. 31, 1859, the number of arrivals of United
States vessels at Marseilles has far exceeded that of the preceding year. There
arrived in all eighty-five vessels, gauging 37,681 tons, the cargoes of which were
worth $1,478,153; there cleared eighty-five vessels, with a tonnage of 37,201




99

Statistics o f Trade and Commerce.

tons, with outward bound cargoes valued at SI,031,114. During the preceding
twelve months there were forty-eight arrivals and forty-seven departures ; the
former measuring 20,110 tons, with cargoes worth SI,675,731 ; the latter 20,658
tons, with exported goods to the amount of f l , 290,918.
Thus it will be observed that, although the number of arrivals, departures,
and tonnage for the year just closed exceeds by nearly one hundred per cent
those of the former year, yet the amount of importation in 1858 exceeds that of
1859 by $197,578, and the exportation by $259,804. This is to be attributed
to the fact that in the year 1858 the articles of importation from the United
States were all valuable, consisting chiefly of tobacco, sugar, coffee, and cotton ;
and in 1859 the largest portion of the ships that arrived were laden with staves
and coal for the use of the belligerents. These ships have all or nearly all cleared
in ballast for the Italian and Sicilian ports. This accounts also for the differ­
ence in the amount of exported goods during these two years.
THE UNITED STATES AND CANADA,

Canadian newspapers publish the annual returns showing the progress of trade
and navigation of the province for the year 1859. The canal returns show a
falling off in the tonnage and merchandise which have passed through, and the
tolls which have been collected from the Welland Canal, with slight increase in
the same items on the St. Lawrence, and a largely and steadily augmenting trade
on the Chambly Canal. The value of the principal articles imported via the
St. Lawrence during the year 1859 is $11,549,068, against $10,765,077 for the
previous year. The free goods imported from the United States under the re­
ciprocity treaty were of the value in 1858 of $5,564,115, and in 1857 of
$7,106,116.
The goods passing through the United States in bond were of the value of
$4,546,491; the produce of the United States, including free goods, $12,237,541 ;
and goods not the produce of the United States were of the value of $5,351,865.
IMPORTS AND EXPORTS OF BOOTS AND SHOES, LEATHER AND HIDES,
FOB THE LAST THREE FISCAL T E A R S .
IMPORTS.

1857.
Boota and shoes...............................
Hides and skins, raw......................
Leather, ta n n e d .............................
Japauned leather............................
Skins, tanned....................................
Skivers................................................

$ 127,651
10,010,090
1,606,458
................
809,273
68,194

185 8 .

1859.

$87,101
9,884,358
1,259,711
226,142
806,412
35,976

$128,666
18,011,828
2,358,794
226,002
1,994,777
120,978

EXPORTS.

— 1857.- - - - - - - ,- - - - - - - - - - 1858.- - - - - - - ^
Beota and ahoea .. .pra
“
Ind. rubbers
Hides ................... No
Leather..................lba.
Marooco, etc.................
Saddlery.....................




Quantity.
661,505
573,238
153,726
,716,510

Quantity.
Value.
609,982
813,995
247,389
331,125
624,867
497,714 2,505,367
2,119
45,222

,- - - - - - - 1859.-

Value.
Quantity.
663,905
627,850
185,941
102,537
875,753
605.589 2,063,040
13,099
55,280

Value.
820,175
52,006
620,589
499,718
41 46$
58,876

100

Statistics o f Trade and Commerce.
IRON TRADE IN-SWEDEN.

As iron is the principal branch of Swedish industry, and certainly that which
is of the greatest interest to our readers, it may be as well here to give a brief
description of the Swedish irons, which are of various qualities, each mine hav­
ing distinct properties. They may be classed under three heads :—
1. The Danemora irons, which are the most valuable, and of which nine-tenths
are used in England, (almost entirely in Sheffield.) where their value varies from
£25 to £34 per ton. The whole quantity made at all the Swedish forges, where
these ores are used, only amounts to about 4,500 tons, and the recent convulsions
in the commercial world have had no effect upon their value.
2. Next in estimation to the Danemora irons are the numerous brands which
are used for steel and other purposes, for which their good quality renders them
desirable. For the sale of these irons Sweden depends upon the state of trade
in England and the United States. In 1857, these irons were worth from £15
to £19 per ton in England, whereas in 1858 their value decreased to from £13
to £15 per ton. In a good state of trade these irons have a higher value than
the third class of Swedish irons.
3. These are commonly called “ assorted bar iron,” or “ common Swedish
iron.” When, however, trade in the two principal countries where the second
class of iron is used is depressed, the common irons have a higher value, as they
find a market in every part of the world. The price of common Swedish irons
was in Sweden, at the date of Mr. G r e y ’ s report, from £10 to £13-per ton.
During the two years preceding Mr. G r e y ' s report, Mr. B e s s e m e r ’ s process
of making steel had been tried at Edsken, near Hoegbo, in the province of
Gefle, upon a larger scale and with more success up to that time than in any
other country, and great results were then anticipated—results that, we doubt
not, will be little short of being fully realized. The steel so made is already in
practical use in Sweden, where a species of Swedish steel, called in England
German steel, has hitherto been employed for general purposes, for which caststeel only is used in England and other countries where manufactures are in a
more advanced state. A t the manufactory of Messrs. B o l i n d e r , at Stockholm,
the tools used are mostly of B e s s e m e r steel, and those persons who manipulate
with them say that they are as good as is required.
TRADE OF BOSTON FOR APRIL.

The following is the monthly statement of the value of imports and exports
of goods, wares, and merchandise entered at the port of Boston during the month
of April, 1860 :—
IMPORTS.

Dutiable, entered for con­
sumption.........................
Dutiable, warehoused. . . .
Free (exclusive of specie &
bullion)...........................
Specie and bullion.......... .
Total imports..............

EXPORTS.

Domestic merchandise___
“
dutiable
$1,795,905 Foreign
“
free. . . .
839,696 Foreign
Specie and bullion..............
852,484
Total exports..............
..........
Merch’dise withdrawn from
$3,488,085 warehouse for consumption

$1,162,985
74,937
58,700
6,030
$1,292,652
639,807

TOBACCO AND THE SPANISH GOVERNMENT.

The Spanish government have issued proposals for Virginia and Kentucky
tobacco to the extent of 300,000 Castilian quintals, or 30,000,000 lbs.




101

Postal Department.

POSTAL DEPARTMENT.
DEAD-LETTERS— NEW LAW.

The following are among the recent acts of Congress which the whole com­
munity will approve of. The number of dead-letters will diminish under the new
law ; and letter writers generally, will perceive the utility of placing their printed
names on each envelop. The reduced rate for the receipt and delivery of letters
in the city, to one cent, is certainly a good improvement:—
AN ACT IN RELATION TO THE RETURN OP UNDELIVERED LETTERS IN THE POSTOFFICE.

Be it enacted by the Senate and House of Representatives of the United
States of America in Congress assembled. That when any person shall indorse
on any letter his or her name and place of residence, as writer thereof, the same
after remaining uncalled for at the office to which it is directed thirty days, or
the time the writer may direct, shall be returned by mail to said writer, and no
such letters shall be advertised, nor shall the same be treated as dead-letters,
until so returned to the Post-office of the writer, and there remain uncalled for
one quarter. Approved 6th April, 1860.
AN ACT AUTHORIZING PUBLISHERS TO PRINT ON THEIR PAPERS THE DATE WHEN
SUBSCRIPTIONS EXPIRE, AND IN RELATION TO THE POSTAGE ON DROP LETTERS.

Be it enacted by the Senate and House of Representatives of the United
States of America in Cougress assembled, That the second clause of section
third of the act of thirtieth August, eighteen hundred and fifty-two, establishing
the rates of postage on printed matter, is hereby so modified as to read as fol­
lows, namely:—
Second. There shall be no word or communication printed on the same after
its publication, or upon the cover or wrapper thereof, nor any writing nor mark
upon it, nor upon the cover or wrapper thereof, except the name, the date when
the subscription expires, and the address of the person to whom it is to be sent.
S ec . 2. And be it further enacted, That on all drop letters delivered within
the limits of any city or town by carriers, under the authority of the Post-office
Department, one cent each shall be charged for the receipt and delivery of said
letter, and no more.
Approved 3d April, 1860.

THE BRITISH POST-OFFICE.

The following table shows the number of letters delivered in the United King­
dom during the last year, with the rate of increase, and the proportion of letters
to population :—

E n g la n d ....................................
I r e la n d ......................................
Scotland . . . . ........................
U nited K ingdom .............




Number of
letters in

Increase
per cent
on num­
ber in

1859.

1858.

47.1)00.000
62,000,000

about 4J
“
7
“
2

Proportion of letters
to population.
22 to each person.
rj u
«
16
18

102

Journal o f Insurance.

JOURNAL OF INSURANCE.
LIFE INSURANCE LAWS OF NEW YORK.

The following are the provisions of “ An A ct to amend an act entitled ‘ an act
to provide for the incorporation of life and health insurance companies, and in
relation to agencies of such companies,’ passed June twenty-four, eighteen hun­
dred and fifty-three.” Passed April 12, 1860 :—
The people of the State of New York represented in Senate and Assembly,
do enact as follows :—
S e c t io n 1. Section one of the act entitled “ An act to amend an act entitled
1An act to provide for the incorporation of life and health insurance companies,
and in relation to agencies of such companies,’ passed June twenty-four, eighteen
hundred and fifty-three.” passed July eighteen, eighteen hundred and fifty-three,
is hereby amended so as to read as follows :—
No company shall be organized under this act, for the purposes mentioned in
the first department, with a less capital than one hundred thousand dollars, and
no company shall be organized, for the purposes mentioned in the second depart­
ment, with a less capital than twenty-five thousand dollars. The whole capital
of such company shall, before proceeding to business, be paid in and invested in
stocks of the United States or of the State of New York, the market value of
which shall be at the time at or above par, or in bonds and mortgages on improved
unencumbered real estate w'ithin the State of New York, worth seventy-five per
cent more than the amount loaned thereon, (but in such valuation farm buildings
shall not be estimated,) or in such stocks or securities as now are or may here­
after be receivable by the banking department. And it shall be lawful for any
company organized under this act, to change and re invest its capital, or any part
thereof, at any time they may desire, in the stocks or bonds and mortgages or
securities aforesaid No company organized for the purposes mentioned in the
first department, shall commence business until they have deposited with the
superintendent of the insurance department of this State the sum of one hundred
thousand dollars, invested as hereinbefore provided for the investment of the
capital of such company ; and no company organized for the purposes named in
the second department shall commence business until they have deposited with
the superintendent of the insurance department of this State, the sum of twentyfive thousand dollars, invested as hereinbefore provided for the investment of the
capital of such company. The superintendent of the insurance department shall
hold such securities as security for policy holders in said companies, but so long
as any company so depositing shall continue solvent, may permit such company
to collect the interest or dividends on its securities so deposited, and from time
to time to withdraw any of such securities, on depositing with the said
superintendent such other securities of like value as those withdrawn, and of the
same character as those above mentioned.
S e c . 2. Section eight of the act entitled “ An act to provide for the incorpora­
tion of life and health insurance companies, and in relation to the agencies of
such companies,” passed June twenty-four, eighteen hundred and fifty-three, is
hereby amended so as to read as follows:—
It shall be lawful for any company organized under this act to invest its funds
or accumulations in bonds and mortgages on unencumbered real estate within
the State of New York, worth fifty per cent more than the sum so loaned thereon,
on* in stocks of the United States, stocks of this State, or of any incorporated
city of this State, if at or above par, and to lend the same or any part thereof
on the security of such bonds and mortgages, and upon the pledge of such
stocks ; provided that the current market value of such stocks shall be at least
ten per cent more than the sum so loaned thereon.




* So in original.

303

Journal o f Insurance.

S e c . 3. Any company organized under the acts to which this is an amendment,
having first obtained the consent of the superintendent of the insurance depart­
ment thereto in writing, may, by a vote of a majority of their directors, accept
the provisions of this act, or any of them, and amend their charter to conform
with the same.
S e c . 4. This act shall take effect immediately.

TOWN INSURANCE LAWS OF NEW YORK,
A X ACT TO AMEND AN ACT ENTITLED “ AN ACT TO AUTHORIZE THE FORMATION OF TOWN
INSURANCE COMPANIES,”
SEVEN.

PASSED A P R IL

PASSED A P R IL SEVENTEENTH, EIGHTEEN HUNDRED AND F IF T Y -

3, I860.

The people of the State of New York, represented in Senate and Assembly,
do enact as follows
S e c t i o n 1. So much of section five, of the act entitled “ An act to authorize
the formation of town insurance companies,” passed April seventeenth, eighteen
hundred and fifty-seven, as relates to the filing of undertakings therein specified,
within five days, is hereby amended so as to read as follows :—
Every such undertaking shall, within thirty days after the execution thereof,
be filed by the secretary of such company in the office of the clerk of the town
in which the office of said company is located.

CINCINNATI FIRES— PAID DEPARTMENT,

The following shows the number of fires, burning chimneys, false alarms, &c.,
from the commencement of the paid fire department, (April 1st, 1853,) up to
the present time, (April 1st, I860,) a period of seven years :—
1854
1855
1856
1867
1858
1859
1860

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

Burning False Burning
Firo3. chimneys, alarms, beds. Total.
106
20
13
202
104
6
2
117
2
93
6
101
104
7
i
113
74
6
2
82
2
84
6
92
109
13
i
120
728

64

22

1

836

Loss.
$680,906
120,846
276,095
184,119
359,784
121,499
295,914

Insurance.
$330,079
84,831
103,730
157,489
219,051
401,471
217,250

$2,038,133

$1,213,911

Loss over
insurance.
$350,817
35,985
172,365
26,630
130,733
22,028
78,664
$825,222

RECAPITULATION OF LOSSES IN MAY , 1860.
Vessel and freight.
Steamers .
Ships.........
Barks . . . .
Brigs...........
Schooners.
T otal.
LOSSES SINCE

J a n u a ry ..
F ebruary.
March . . . .
April..........
M a y ...........
Five months 1860.............
Same time 1859.




540,500
106,500
52,500
77,300

Cargoes.
$61,000
972,200
71,900
56,200
83,100

Total.
$131,500
1,612,700
176,500
108,700
160,400

$956,300

$1,242,500

$2,180,800

1 295,000
1,537,450
783,100
946,300

$749,950
1,114.000
1,894,500
1,480,700
1,243,500

$1,973,850
2,409,000
3,431,950
2,263,800
2,189,800

$5,785,750
5,109,400

$6,482,650
5,818.560

$12,268,400
10,918,960

JANUARY,

1860.

104

Commercial Regulations.
LIFE INSURANCE,

A convention of life insurance companies was recently held in New York
city. In reference to the rate of interest, the committee reported in favor of
four per cent, as the safest for the next hundred years. The funds now held in
trust by the life insurance companies of this country amount to §22,000,000,
the sums insured for are §180,000,000, and the number of lives about 160,000.
Over §2,000,000 are paid out every year by the falling in of claims, mostly to
widows and orphans.

COMMERCIAL REGULATIONS.
DUTY ON WOOL IN FRANCE.

The Echo Agricole shows that the abolition of the import duty on foreign
wool will not injure the French farmer, and that the French producer need feel
no alarm at the proposed measure. From the beginning of the century up to
1823 foreign wool entered France free of duty, but in the last named year the
price of wool underwent a heavy decline in all the markets of Europe. A cer­
tain description of merinos, for example, which were worth in France 4 f. to 4 f.
50 c. the kilogramme, fell successively to about 2 f., and has since remained on
an average at 2 f. to 2 f. 50 c. Protection was in fashion in those days, and an
import duty of 33 per cent ad valorem was imposed on wool. But this duty
though, so to speak, prohibitive, did not cause a rise in price. From 1823 to
1834 the average price was 2 f. 20 c. the kilogramme, the lowest being 1 f. 70 c.,
and the highest 2 f. 80 c. In 1834 the duty was reduced to 22 per cent, includ­
ing what is called the dixieme ; and that duty was maintained up to 1855, a
period of 20 years, during which the price varied according to the abundance of
the crops and the manufacturing and commercial situation, from 1 f. 40 c. (in
1848) to 2 f. 50 c. (in 1855.)
In 1856 the duty was reduced to 15 c. the kilogramme ; and from that year
up to 1859 the price of wool in France was, notwithstanding commercial and
financial crises, 2 f. 40 c. to 2 f. 50 c. the kilogramme. It will be seen that un­
der the most moderate duty, that which now exists, the price of wool has not
fallen, and the reason is this— a reduction of duty has always for effect to main­
tain prices in foreign markets, and the wool of France being the best, if not the
finest, of all wools, our manufacturers, influenced by the firmness of foreign mar­
kets, hasten to lay in stocks of French wool, which is the quality that suits them
best. During the last ten years the importation of foreign wool has been on the
increase; in 1850 and in preceding years it was 20,000,000 kilogrammes, and
since 1852 it has been, on an average, 35,000,000. How is it that with such an
importation the price of wool in France does not decline? The answer is, 1.
Because the price of wool in France must be on a level with the price of wool
abroad. 2. Because the consumption of woolen fabrics in France is constantly
on the increase. 3. Because the export of French woolen fabrics abroad in­
creases considerably every year. On this subject the customs returns present
some curious results. It is known that the French manufacturers of woolen goods
cannot compete with foreigners, except on the condition that the Custom house




Commercial Regulations.

105

shall restore to them, on the export of their fabrics, the duties which were paid
on the import of the raw material.
This is what is called drawback. For so many kilogrammes of tissues exported
the Custom-house reimburses the duty paid on the import of so many kilo­
grammes of wool. Proportionate rates are established for that purpose accord­
ing to the sort of tissues exported. In 1856 the Board of Customs thus reim­
bursed as drawback 9,379,000 f. to French exporters, though in that year it only
received on the import of wool 8,571,000 f. In 1857 the duties levied on the
importation of wool were 7,900,000 f., and the drawback reimbursed was
6,183,000 f. In 1858 the duties levied on imports were 7,600,000 f., and the
drawback reimbursed was 5,500,000 f. It will be seen that in France very little
foreign wool remains in the form of tissues, since the export takes away almost
all that is brought in, and this explains why at one period the exporting manu­
facturers of Elbeuf supported a demand for the maintenance of the duty of 33
per cent on foreign wool. The higher this duty was the greater was the
advantage derived by them from the premiums paid to them on the export of
woven goods. French agriculture would therefore gain nothing by the main­
tenance of this customs machinery, which is entirely to the advantage of exporters.
This machinery will be suppressed at the same time as the duty on wool.
EXTRACTS FROM THE PORT REGULATIONS OF HAVANA.

No one will be allowed to disembark on the island without a passport, except
in case of inevitable loss of papers by shipwreck, capture, or other similar cause,
and the presentation of a bondsman, who will answer to the authorities for the
term of one year, atid present him should he be demanded.
Passengers from foreign ports should have their passports certified by the
Spanish consul.
N o master of a vessel will receive on board any passenger, to convey from one
point to another, without a passport, under penalty of twenty-five dollars.
Any person that receives a slave on board any vessel, to be conveyed from one
point to another, without permission from the master of the slave, shall incur a
penalty of fifty dollars, without prejudice to any action at law that may be
brought against him therefor.
No master of a vessel will receive on board any deserting soldier or sailor, un­
der the pains and penalties prescribed in the military code.
All colored persons, slaves or free, that arrive from foreign countries, shall be
sent immediately to a deposit, prepared by the government for that purpose,
were they shall remain until the moment of leaving the island. Or they can re­
main on board the vessel, provided the consignee will give a bond for one thousand
dollars, to be forfeited in case they leave her, which bond will not be canceled
until the return of the boarding officer on the departure of the vessel.
Purchases made from slaves or servants shall be forfeited, and the purchaser
punished as he may deserve. The same is understood of purchases from soldiers,
unless it be some article of their own manufacture, or made with the intervention
of an officer.
No person shall make, sell, purchase, or carry, under the penalties assigned by
law, any of the following weapons :— Pistols of all classes— muskets or carbines
less than lour palms in the barrel— guns or pistol canes of any kind— sword cane3
nor any cane with a concealed blade of any kind— dirks or daggers of any kind
less than lour hands in the blade— knives with spring backs, or any other con­
trivance to fix the blade when open— bayonet without the gun— nor any pointed
knife, great or small, of any kind.

Much complaint having been made of the injury sustained from the owners of
eating and liquor shops, who, together with their assistants, insidiously entice




106

Nautical Intelligence.

and entrap the crews of foreign vessels, on the plea of being their countrymen,
and the identity of language, which induces them to join their meetings, where
they suggest to them the idea of leaving their vessels, as also of claiming the
wages they suppose due, holding out to them the prospect of new and more lucra­
tive voyages ; these inveiglers having no other interest than to make the sailors
pass the night at their houses, causing them a daily expense on trust, which is
increased by fraud and intoxication, iu order to be claimed afterwards of the
masters or consignees of the vessels to which they belong ; it is ordered that the
owners of such establishments and boarding-house keepers, shall not admit them
into their hpuses, nor give them anything on trust, much less allow them to pass
the night there, without written consent of the masters of their respective ves­
sels, under pain of forfeiture of what they may supply them, and all damages
that may arise from the concealment and detentions of mariners.
This law has been amended by the imposition of a fine of twenty-four dollars,
on any boarding-house keeper that shall keep a sailor over night, without per­
mission, over and above the forfeiture above named.

NAUTICAL INTELLIGENCE.
LIGHT IS PORT FAIRY, AUSTRALIA.

With reference to Notice to Mariners, No. 47, dated 20th October, 1859, the
Department of Trade and Customs at Melbourne, Victoria, has given the follow­
ing additional information relative to the light exhibited on and after the 1st day
of September, 1859, at Port Fairy, on the south coast of Australia:—
FIXED AND FLASHING LIGHT IN PORT FAIRY.

The light is a fixed red light, varied by a bright flash eveq|' three minutes, and
is visible seaward from a vessel when bearing between N. E. i E. and S. by E.
•} E. The light is elevated 41 feet above the mean level of the sea, and in clear
weather should be visible from a distance of 9 miles. A t the distance of 6 miles
and upwards it will appear as a steady light for a space of one minute and forty
seconds, be suddenly eclipsed thirty-four seconds, then exhibit a bright flash for
twelve seconds, and be again eclipsed for thirty-four seconds, when the steady
light will reappear. When within 3 miles of the light the eclipses will be
scarcely observable, a continued fixed light being at that distance, in clear weather,
visible between the intervals of the bright flashes. The illuminating apparatus
is dioptric or by lenses of the fourth order. The lighthouse is circular, built of
stone, and colored red. It stands on the southeastern part of Rabbit Island,
about 5 yards from high water mark, and its approximate position is latitude
38° 24' S., longitude 142° 20' east of Greenwich. From the lighthouse, the
south end of Julia Percy Island bears W . by S i S., distant about 13 miles;
the S. S. E. extreme of reef off Dusty Miller Island S. by W. J W., three quarters
of a mile ; the northeast extreme of Rabbit Island reef N. E. by E.,
cables’
lengths ; and the outer mooring anchor buoy N. by E. f E., three quarters of a
miie.
C a u t i o n . —The mariner is particularly requested to note the distinctive feature
between the Port Fairy light and the Cape Otway light, the latter being white,
and varied by a flash every minute. No stranger should attempt to pick up the
Port Fairy light in thick weather, nor enter the port at night. When work­
ing in shore to the westward of the port, be careful not to bring the light to
bear to the eastward of E. N. E .; nor should the light be approached nearer
than a mile until it bears W. by S., when a N. W. by W. course may be steered
for the roadstead. When it bears S. by W. i W., anchor in 6J or 7 fathoms
water ; do not bring the light to the southward of this bearing, to avoid fouling
the moorings. The bearings are magnetic. Variation in Port Fairy 7° 50' E.
in 1859. By command of their lordships,
JOHN W ASHINGTON, nydrograplier.
L ondon , N ov em b er 14,1859.




Nautical Intelligence.

107

LIGHT IN PORTLAND BAY, AUSTRALIA,

With reference to Notice to Mariners, No. 47, dated 20th October, 1859, the
Department of Trade and Customs at Melbourne, Victoria, has given the follow­
ing additional information relative to the light exhibited on and after the 1st
day of September, 1859, at Portland Bay, on the south coast of Australia:—
FIXED LIGHT IN PORTLAND BAY.

The light is a fixed red light, and is visible seaward from a vessel when bear­
ing between N. W. and S. by E. It is elevated 116 feet above the mean level
of the sea, and should be seen in clear weather from a distance of about 13 miles.
The illuminating apparatus is dioptric or by lenses of the fourth order. 'The
lighthouse, built of stone, and colored gray, stands near the flagstaff on Battery
Hill, and its approximate position is latitude 38° 22' S., longitude 141° 39'east
of Greenwich. From the lighthouse the eastern extreme of the Lawrence Rocks
bears S. E., distant about 4 miles ; the extreme north point of Whalers’ Bluff
N. W. by N. one mile; and the buoy on Whalers’ Reef N. by W . J W . one
mile.
C a u t io n .— Vessels bound to Portland Bay from the westward must be careful,
in rounding the Lawrence Rocks, not to bring the light on Battery Hill to bear
to the northward of N. W. by W. J- W . After passing the rocks, a course may
be shaped for the light, keeping it on the port bow, and not standing into a less
depth than 6 fathoms. When abreast the anchorage, the jetty light, (which at
the exhibition of this light was altered in color from red to green,) will be
visible bearing west. The bearings are magnetic. Variation 7|° E. in 1859.
By command of their lordships,
JOHN W ASHINGTON, Hydrograplier.
L ondon , N ovem ber 14, 1859.

FIXED LIGHT ON LILLE FEISTEEN ISLAND, NORWAY.

The Royal Norwegian Marine Department at Christiania has given notice,
that on and after the 10th day of November, 1859. a light would be exhibited
from the lighthouse on Lille (Little) Feisteen Island lying off the western coast
ol Norway. The light is a fixed red light, elevated 68 feet above the mean level of
the sea, and should be visible in clear weather from a distance of 12 miles. It
is seen from all points ot the compass, and will be lighted throughout the year.
The illuminating apparatus is of the fourth order. The height, color, and de­
scription of the lighthouse are not given. It stands in latitude 58° 49J' N.,
longitude 5° 30|' east of Greenwich.
FIXED LIGHT ON SLOTTERO ISLAND.

Also, that on and after the above date a light would be exhibited from the
lighthouse erected on Slottero Island, lying off the southern part of the entrance
to Selbo Fiord, west coast of Norway. The light is a fixed white light, elevated
152 feet above the mean level of the sea, and should be seen in clear weather
from a distance of about 18 miles It is visible seaward and towards Selbo Fiord,
and will be lighted throughout the year. The illuminating apparatus is of the
second order. The lighthouse is a circular iron tower, 68 feet high, and painted
red. Its position is given in latitude 59° 54£' N., longitude 5° 5' east of Green­
wich. This longitude is 2 miles east of that given in the Admiralty charts.
The bearings are magnetic. Variation 21° west in 1859. By command of their
lordships,
J O n N W ASH IN GTON, Hydrograplier.
L ondon , November 23, 1859.

FIXED LIGHT AT BURNT COAT HEAD, BAY OF FUNDY.

The Board of Works at Halifax, Nova Scotia, has given notice, that on and
after the 20th day of October, 1859, a light would be exhibited from the light­
house recently erected on Burnt Coat Head, on the south shore of the Basiu of
Mines, at the head of the Bay of Fundy. The light is a fixed white light,




108

N autical Intelligence.

elevated 75 feet above the mean level of the sea, and should be visible in clear
weather from a distance of 13 miles. The light-tower, which is square, is attached
to the main building, and both are painted white. Prom the tower. Cape Blowme-down bears W. by N. f N., distant 26| miles ; the Brickkiln Ledges N. W .
i W., westerly, 1} miles; and Economy Point N. W . J N. 4 miles.
BEACON

L IG H T S A T

M A RSHALL

CO VE A N D

M A R G A R E T V IL L E .

Also, that on and after the 27th October, 1859, beacon lights would be exhibited
from the buildings recently erected at Marshall Cove and Margaretville, on the
eastern shore of the Bay of Fundy. The beacon at Marshall Cove will show,
at the distance of about 5 miles, a fixed white light, and on a nearer approach a
green light. At Margaretville the beacon will show, at the distance of about 5
miles, a fixed white light, and on a nearer approach a red light. The buildings
are square, and paiDted white. Marshall Cove (formerly called Port Williams)
is distant about 27 miles, and Margaretville about 37| miles, to the eastward of
Digby lighthouse. The bearings are magnetic. Variation 20° W. at Burnt
Coat Head ; 18° W . at Marshall Cove ; and 19° W. at Margaretville, in 1859.
By command of their lordships,
L ondon,

November 22,1859.

JOHN W ASHINGTON, Hydrographer.

FIXED LIGHT AT CALELLA, COAST OF SPAIN,

The Minister of Marine at Madrid has given notice, that on and after the loth
day of December. 1859, a light would be exhibited from the light-tower recently
erected on the hill of the Torreta, in the province of Barcelona, on the south
coast of Spain. The light is a fixed white light, varied by a flash every two
minutes. It is elevated 16(5 feet above the mean level of the sea, and should be
visible in ordinary weather from a distance of 18 miles. The illuminating
apparatus is dioptric, or by lenses of the third order. The light-tower is cylin­
drical, colored white, and rises 13 feet above the adjoining dwellings of thelightkeepers. It stands at about half a mile to the westward of Calella village, and
57 yards from the margin of the sea. Its position is given as latitude 41° 36'
40" N .; longitude 2° 39' 38" east of Greenwich.
B U D A IS L A N D ; M OU TH OF T H E

R IV E R

EBRO.

Also, that from a recent survey, it was found that the east point of the island
of Buda, at the mouth of the river Ebro, province of Barcelona, had advanced
considerably (it is said 4 miles) to the eastward beyond that marked in the
Spanish chart of the year 1833. Prom the east point Coll de Balaguer castle
bears N. 13° E .; Merla Tower, N. 10° W .; Vendrell, N. 54° E .; and the south
part of the Sierra de Monsia, N. 54° W. The bearings are magnetic. Varia­
tion 18° west in 1859. By command of their lordships,
JOHN W ASHINGTON, Hydrographer.
L

ondon,

D ecem ber 16,1859.

FIXED AND FLASHING LIGHT ON CAYO PAREDON GRANDE, CUBA.

The Spanish Government has given notice, that on and after the 1st day of
November, 1859, a light would be exhibited from the lighthouse recently erected
on the northern part of Cayo Paredon Grande, on the north coast of the island
of Cuba. The light is a fixed white light, varied every minute by a flash. It
is elevated 159 feet above the mean level of the sea, and should be seen in clear
weather from a distance of 20 miles. The illuminating apparatus is by a Fresnel
lens of the first order. The light-tower is an iron structure erected on a base of
hewn stone, which rests on a foundation of rugged rock about 26 feet above the
sea level. The color of the tower is not given. It stands in latitude 22° 29'
25" N . ; longitude 78° 9' 42" west of Greenwich. By command of their lordships,
JOnN WASHINGTON, Hydrographer.
L ondon , D ecem ber 10,1859.




109

Nautical Intelligence.
ROCKABILL LIGHTHOUSE, AND ST. JOHN’ S PIONT LIGHT, IRELAND,

The Port of Dublin Corporation hereby give notice, that a lighthouse has
been erected on Rockabill—off the east coast of County Dublin—from which a
light will be exhibited during the night of the 1st day of July next, 1860, and
thenceforth will be lighted every night lrom sunset to sunrise. Notice is also
given, that from and after same date the light on St. John’s Point, Dundrum
Bay, will be colored red.
SP E C IF IC A T IO N

G IV E N

OF T H E

P O S IT IO N

AND

M R . H A L P I N , S U P E R IN T E N D E N T

APPEARANCE

OF

THE

L IG H T S ,

BY

OF L IG H T H O U SE S.

B o c k a b i i .l L i g h t .
Rockabill lighthouse is erected on the summit of the
larger rock—2| miles eastward of Skerries Islands—and is in latitude 53° 35'
45" N., and longitude 6° O' 30" W., bearing from Drogheda Bar S. S. E., dis­
tant 11 miles ; from the Kish lightship N. by E., ^ E., distant 17 miles ; from
the Nose of Lambay Island N. N. E., distant 6^ miles; from Balbriggan Pier
light, S. E. by E., distant 6J miles. The light will be a flashing light, giving a
bright flash every twelve seconds, of the natural color white, as seen from between
the bearings of S. i E., (round by the eastward.) to N. E. by N., and will be
colored red round by the westward between the same bearings. The illuminat­
ing apparatus is dioptric (holophotal) of the first order, its focal plane 155 feet
over the mean level of the sea, and in clear weather the white light should be
seen from a distance of 18 miles. The tower is circular, of gray limestone, and
the whole height from its base to the top of its lantern is 105 feet. A range of
storehouses surround the lower story of tower; the dwelling houses are built to
the northwestward, on a lower level of the rock.
S t . J o h n ’s P o in t L i g h t .
Prom and after the date of the exhibition of the
Rockabill light, (1st July, I860,) the intermitting light on St. John’s Point,
Dundrum Bay, will be colored red, the times ot its eclipses will continue as
heretofore.
N o t e .— At same date with the exhibition of the new light on Rockabill, and
the change in the color of the light on St. John’s Point, some alterations will be
made in the distinctive characters of floating lights off the east coast of Ireland,
conformably to notices this day published. Bearings stated are magnetic.
Variation 25J° west in 1859. By order,

W ILLIA M LEES, Secretary.
D u b l in , December 22,1859.

TEMPORARY LIGHT AT COLOMBO, EAST COAST OF CEYLON.

The Colonial Government at Ceylon has given notice, that the light-tower at
Colombo, will be under repairs from the 1st of February to the 1st of April,
I860, and that during that period a temporary light will be exhibited from the
clock tower.
C a u t i o n .— The mariner is cautioned not to place too much dependence on this
temporary light, and to keep the deep sea lead going when approaching Colombo
by night. If soundings between 30 and 40 fathoms be obtained, the vessel will
be 15 or 18 miles from the land, and had better not near it till daylight. By
command of their lordships,
JOHN WASHINGTON, Hydrographer.
L ondon , November 21, 1859.

INTENDED FLOATING LIGHT, NEAR THE VARNE SHOAL, STRAITS OF DOVER.

Notice is hereby given, that with a view of indicating the position of the
Varne and Ridge shoals, in the Straits of Dover, to vessel approaching them in
the night, it is the intention of this corporation to cause a light-vessel to be
placed near the southwest end of the Varne, and a quick revolving red light to
be exhibited therefrom on or about the 1st October next. Further notice, rela­
tive to the exact position, &c., of the light-vessel, will be duly published. By
order,
P. H. BERTITON, Secretary.
T r in it y - house , L ondon , Febru ary 24, 1860.




110

Railroad, Canal, and Steamboat Statistics.

RAILROAD, CANAL, AND STEAMBOAT STATISTICS.
STEAM MARINE OF THE UNITED STATES.
By the following statement, it appears that the aggregate tonnage of the
steam marine of the United States amounts to 153,366 tons, of which 94,111 is
owned in New York, and cost $16,231,088 13. The balance, 59.255, belongs
to different ports in the United States, the cost of which is not given, and, of
course, is not included in that of New York.
As far as practicable, the names of different companies, tonnage, cost, and
where employed, of all vessels belonging to New York, are first given, then
those of other ports, as follows :—
NEW YO R K — PACIFIC M A IL STEAMSHIP COMPANY.

The ships of this line are employed running between Panama, San Francisco,
Oregon and Washington Territories.
Steamships.
California.. . . . . . .
OregoD..................
Panama................
Golden Gate.........
Columbia..............
Fremont.............
Taboga, (tug).......
John L. Stephens..
Sonora..................
Total...............

Tonnage.
1,058
1,100
1,087
2,067
777
559
189
2,189
1,616

Cost.
$200,082
198,504
211,856
481,844
169,043
98,424
39,638
309,594
302,000

Steamships.
Golden Age.........
St. Louis............
Republic....... .
Washington.......
Cortez................
Orizaba...............
Sierra Nevada ..
Uncle Sam.........

Tonnage,
2,281
1,620
852
1,640
1,117
1,450
1,246
1,080

Cost.
400,000
271,000
210,590
390,000
198,000
241,000
210,000
160,000

21,928 $4,042,126
ATLANTIC AND PACIFIC STEAMSHIP COM PAN Y.

California service, between New York, New Orleans, Havana, and Aspinwall.
Northern Light...
North Star...........
Ariel....................
Ohampion...........

1,767
1,868
1,295
1,540

$290,000 Illinois.................
285,400 Moses Taylor.......
200,000
Total.............
154,000

2,124
1,373

480.000
250.000

9,967 $1,659,400

NEW YORK, SOUTHAMPTON, AND HAVRE.

Vanderbilt...............
Ooean Queen............

3,360
2,830

$510,000
450,006

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

6,190

$960,000

1,059

175,000

4,882

$830,000

UNITED STATE8 M AIL STEAMSHIP LINE.

Between New York, Havana, and New Orleans.
Star of the West..
Philadelphia.........

1,173
1,752
898

$250,000 Granada..............
225.000
180.000
Total.............

NEW YORK AND NEW ORLEANS STEAMSHIP COMPANY.

Cahawba..................
De Soto....................

1,643
1,675

$207,000
170,000

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

3,318

$377,006




Railroad , Canal, and Steamboat Statistics.
NEW

Augusta.............
Florida.................

$ 1 8 0 ,0 0 0

1 ,2 6 1

1 8 0 ,0 0 0

NEW

Columbia.............

Y O RK AND SAVANNAH.

1 ,3 1 0
1 ,2 6 1

Star of the South.

960

8 0 ,0 0 0

4 ,7 9 2

$ 6 2 0 ,0 0 0

Nashville..............

1 ,2 2 0

1 6 5 ,0 0 0

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

4 ,6 2 2

$ 6 5 3 ,0 0 0

1 ,0 7 1

$ 1 1 5 ,4 5 8

1 ,3 2 0

1 3 0 ,5 4 7

1 ,4 0 0

1 5 3 ,9 6 7

3 ,7 9 1

$ 3 9 9 ,9 6 2

2 ,2 4 0

$ 4 5 0 ,0 0 0

2 ,3 0 7

4 5 0 ,0 0 0

4 ,5 4 7

$ 9 0 0 ,0 0 0

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

1 8 0 ,0 0 0

YO RK AND CHARLESTON, S. C.

1 ,3 4 7

$ 1 9 0 ,0 0 0

1 ,1 5 5

1 5 0 .0 0 0

900

1 4 8 .0 0 0

Marion................

I ll

NEW Y O RK AND RICHMOND, VA.

Roanoke..................
Jamestown..............
Yorktown.................
Total.................
N E W YO RK , SOUTHAMPTON, AND HAYRE.

Total.................
Cr o m

w ell’s

l in e .

Screw Propellers-—New York, Baltimore, Washington, Norfolk, Savannah,
Portland, and other ports.
Huntsville............
Montgomery.........
Potomac..............
Locust Point.........
Mount Vernon.. . .
Patapsco...............

840

$ 1 2 5 ,0 0 0

840

1 2 5 ,0 0 0

448

6 0 ,0 0 0

462

6 0 ,0 0 0

750

8 0 ,0 0 0

460

6 0 ,0 0 0

454

6 0 ,0 0 0

Parkersburg.........
Thomas Swan.......
R. R. Cuyler.........
Monticello............
George’s Creek....
Total.............

715

7 5 ,0 0 0

462

6 0 ,0 0 0

1 ,5 0 0

2 0 0 ,0 0 0

750

8 0 ,0 0 0

460

6 0 ,0 0 0

8 ,1 4 1

$ 1 ,0 3 5 ,0 0 0

SOUTHERN STEAMSHIP COMPANY.

New Orleans, Texas, Florida, and Vera Crnz.
Arizona (iron)......
Calhoun................
Charles Morgan...
Galveston.............
Texas....................
Magnolia.............
Matagorda (iron)..
Mexico..................

750
503
1,208
945
1,223
843
616
1,058

$100,000 Oriziba................
50,000 Gen. Rusk (iron)..
150,000 Atlantic................
120,000 Tennessee...........
140,000 Suwanne.............
120,000 Austin (iron).........
100,000
140,000
Total.............

600
417
623
1,449
495
900

100,000
417,000
75,000
140,000
60,000
100,000

11,635 $1,812,000

Two-thirds of these ships are owned in New York, the balance in New Orleans.
NORTH ATLANTIC STEAMSHIP COMPANY.

New York and Aspinwall—soon to be withdrawn.
Atlantic................
Baltic..................
Total.

2,849
2,783

$764,000 I Adriatic.
790,000 |

4,145

1,000,000

9,727 $2,554,000
SAN FRANCISCO AND PANAMA.

Pacific.................
1,003 $100,000 I Hermann.....
Brother Jonathan.
1,350 190,000 |
Total........................................................................




1,734

410,000

4,087

$700,000

112

Railroad, Canal, and Steamboat Statistics.
PANAMA RAILROAD COMPANY.

Central American coast, in connection with the railroad.
Guatemala.............
Columbus...............

1,071
500

$130,000
100,COO

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

1,571

1230,000

1,115

$ 1 0 0 ,0 0 0

1 ,1 0 0

$ 1 1 0 ,0 0 0

1,428

$ 2 0 0 ,0 0 0

1,187

$180,000

1,003

$ 1 0 0 ,0 0 0

963

$90,000

800

$75,000

CHARLESTON, SAVANNAH, AND HAVANA.

Isabel....................
N EW YORK AND MATANZAS.

Matanzas................
NEW

YO RK AND HAVANA.

Quaker City...........
PH ILA D E LP H IA AND SAVANNAH.

State of Georgia. . .
BOSTON AND BALTIMORE.

Joseph Whitney....
BOSTON AND PORTLAND.

Lewiston................
BOSTON AND PH ILA D E LP H IA .

Cambridge, P.........

Besides the steamers set down above, there are numerous others engaged in the
coasting trade or running short passenger trips that we might enumerate if we
had space. The aggregate tonnage of these amount to 41,604.
. Including this latter class, the aggregate tonnage of our commercial steam
marine is 153,366 tons, of which 94,111 is owned in New York. The total
cost of the vessels in New York hands alone is $16,231,088 13. The aggregate
cost of the sea-going steamers of the United States is, as near as can be esti­
mated, $25,000,000.
RAILROADS Ilf CUBA,

The Cuba Messenger describes the progress of railroads in that Island as fol­
lows :—Our readers abroad may be able to form an idea of the progress of our
Island by our merely mentioning the fact that the different railroad lines now
finished and in the course of construction throughout the country, are 27 in
number, and comprise, altogether, 1,315,522 kilometres, (about 818 English
miles,) of which at least 500 miles are in operation. The whole amount thus
far invested on these railroad lines, up to last year, was $17,027,414 66 ; and,
according to the statistics published, they yielded in 1858 the sum of $3,386,840.
The principal line—the first ever constructed, (from this city to Guines, and
now extending to La Union,)— was commenced in November, 1835 ; the line
from Cardenas to Macagua was started in 1838, and the Jucaro railroad in 1839.
All the others have been traced and commenced since 1840.




Railroad, Canal, and Steamboat Statistics.

113

We append a list of the different lines in the manner they are generally desig­
nated in the corresponding sections :—
1st Line— 1st Section..............
..............
2d
“
3d
“
..............
4th
“
..............
5th
“
............
2d Line.....................................
3d Line.....................................
4th L in e ...................................
5th L in e ...................................
6th Line— 1st Section..............
2d
“
..............
3d
“
..............
4th
“
..............
6th
“
..............
1th Line—1st Section..............
2d
“
..............
8th Line— 1st Section...............
2d
“
..............
3d
“
..............
4th
“
..............
5th
“
..............
9th L in e ...................................
10th L in e.................................
11th L in e.................................
12th Line—1st Section............
2d
“
............
13th L in e.................................
14th L in e .................................
15th L in e.................................
16th L in e.................................
llth L in e.................................
18th L in e.................................
19th
20tli
21st
22d
23d

L in e .................................
L in e.................................
L in e.................................
L in e.................................
L in e.............. ..................

24th L in e .................................
25th L in e .................................
26th L in e.................................
27th L in e .................................

From Havana to Bejucal.
From Bejucal to Guinea.
From Guinea to La Union
Branch from San Felipe to Batabano.
Branch from Rincon to Guanajay
From Cardenas to Macagua.
From Cardenas to Jucaro.
From Matanzas to La Isabel. Branch from Navajas
to Tramojos, and from Tramojos to Claudio.
From Regia to Guanabacoa (horse cars.)
Matanzas to Guanabana.
to Coliseo.
to Tosca.
to Delgado.
to Bemba.
From Caibarrien to Remedios.
Continuation from Remedios to S. Andres.
From Cienfuegos to Palmira.
From Palmira to Las Cruces.
From Las Cruces to Ranchuelo.
From Ranchuelo to Villa Clara.
From Villa Clara to Sagua.
From Carahatas to Quemados de los Guines.
From Trinidad to Sancti Spiritus.
From Macagua to Trinidad.
From Mallorquin to Las Pozas.
From Las Pozas to Macagua.
Sagua la Grande (along the river bank.)
Havana (Regia) to Matanzas. (Finished to Guana­
bacoa, double track, and thence Jaruco, single do.)
From Guines to Matanzas. Branch to Madruga,
Havana City Railroad, (surrounds the old city and
goes to Carmelo, at the outlet of the Almendares
river, 3 miles west of the city.)
From Guanabacoa to Cojemar.
Western Railroad. From Havana to Pinar del Rio.
Branch from Palacios to the San Diego Baths.
From Havana to Marianao.
From Pinar del Rio to Coloma.
Sancti Spiritus to Port Las Tunas.
From Nuevitas to Puerto Principe.
From Cobre (copper mines) to Punta de Sal (at St.
Jago.)
Guantanamo Railroad.
From St Jago to Sto. Cristo. Branch from Sto. Cri3to to Maroto. Branch from Marota to Sabanilla.
From San Miguel to Baga (Puerto Principe.)
The Caney Branch, belonging to the line from St.
Jago to Sabanilla.

There are besides two or three other lines in view, but nothing decided yet
about them.
With the assistance of a good chart of the Island, it will easily be seen at a
first glance, that when all these lines are finished and in operation, the principal
and most important cities and districts of the Island will form a sort of grand
central trunk, extending its branches to both coasts.
We are most happy that we are able to state that the work oc the prinV O L . X L I I I .-----N O . I .




8

114

R ailroad , Canal, and Steamboat Statistics.

cipal lines not yet finished is progressing rapidly, and that a system of sclidity
and durability in the manner of constructing has been recently adopted, which,
unfortunately, was overlooked to a great extent in the earlier part of railroad
building in this Island. Some arrangements have been entered into recently,
between the Havana and the Regia and Matanzas Railroad Companies, that will
tend to avoid great expenditures in a double line running almost parallel to each
other in a portion or section between this and Matanzas, and from what we have
been able to glean in different directions, we are fully persuaded that the future
constructions of railroad lines in this rich and flourishing Island will be con­
ducted in the manner best calculated to promote both public and private con­
venience.
RAILWAY FROM BANGOR TO NEW ORLEANS,

There was completed in January the last two links in the great chain of rail­
ways from Maine to Louisiana— the first, the last twenty five miles on the Mis­
sissippi Central, and the second, of sixty-one miles between Lynchburg and
Charlotteville, on the Orange and Alexandria Railroad, popularly known as the
Lynchburg Extension. This route, as will be seen by the following table of
distances, is within a fraction of 2,000 miles in length, from Bangor to New
Orleans, of a continuous rail track, with the exception of four short ferries, viz.,
the Hudson River, the Susquehanna, the Potomac, and the James River at
Lynchburg, the last two of which will soon be supplied with bridges:—
From New Orleans to Canton, Miss., by the New Orleans, Jackson, and Great

Northern Railway......................................................................................

206

Canton to Grand Junction, Miss., by the Mississippi Central Railway..............
Grand Junction to Stephenson, Ala., by the Memphis and Charleston Railway.
Stephenson to Chattanooga, Tenn., by the Nashville and Chattanooga Railway
Chattanooga to Cleveland, Tenn,, by the Cleveland and Chattanooga Railway.
Cleveland to Knoxville, Tenn., by the East Tennessee and Georgia Railway..
Knoxville to Bristol, Tenn., by the East Tennessee and Virginia Railway.......
Bristol to Lynchburg, Va., by the Virginia and Tennessee Railway.................
Lynchburg to Alexandria, by the Orange and Alexandria Railway..................
Alexandria to Washington, D. C., by the Washington and Alexandria Railway
Washington to Baltimore, Md., by the Baltimore and Ohio Railway................
Baltimore to Philadelphia, by the Philadelphia, Wilmington, & Baltimore Rail’d
Philadelphia to New York, by the Philadelphia and New York Railroad line .
New York to New Haven, Conn., by the New YTork and New Haven Railway
New Haven to Springfield....................................................................................
Springfield to Worcester, by the Western Railway...........................................
Worcester to Boston, by the Boston and Worcester Railway............................
Boston to Portland, Me., by the Eastern and Portland, Saco, and Portsmouth

165
219
38
29
83
130
204
169
6
39
98
87
74
62
9S
45

Railways...................................................................................................
Portland to Bangor, Me., by the Penobscot and Kennebec and Androscoggin
and Kennebec Railways....................................................................................
Total.............................

107
137
1,996

This vast chain of railways is composed of eighteen independent roads, cost­
ing in the aggregate, for 2,394 inile3 of road, $92,784,084, or nearly one-tenth
of the whole railway system of the United States, of which 1,996 miles are
used in this continuous line. The roads from Washington City to New Or­
leans, embracing a distance of 1,249 miles, have had the contract for the great




Railroad, Canal, and Steamboat Statistics.

115

through mail to New Orleans, once a day, since the 1st July, 1858. Now that
these two links are completed, we hope soon to see the Department, if it is ever
again in a position to pay contractors, to carry out the original plan of two
daily mails, in 75 hours, between Washington City and New Orleans, which is
the schedule time proposed by the different companies when the contract was
awarded.
C0TT01V AND RAILROADS.

The transportation of cotton is an important element of business for the rail­
roads, of which the freight receipts are considerable. The proportion and the
profits of the seventeen leading Southern roads were as follows :—
Gross
Freight
receipts. receipts.
Houston and Texas Central..........
$76,957 $49,686
N. Orleans, Jackson, & Gt. North’n. 784,023 476,574
Southern..........................................
249,372 152,355
Alabama and Tennessee................
155,628 106,255
Montgomery and West Point........
446,153 179,829
Mobile and Ohio.............................
751,880 571,429
Nashville and Chattanooga..........
605,368 317,283
East Tennessee and Georgia..........
318,718 103,622
Memphis and Charleston ............... 1,330,812 509,991
Mississippi and Tennessee...............
176,462 105,430
Tennessee and Alabama................
75,129
27,206
Raleigh and Gaston.........................
258,268 164,775
Wilmington & Manchester..............
427,043 161,008
Charleston and South Carolina. . . .
283,263 173,190
South Carolina................................ 1,596,695 1,030,566
Atlanta and West Point.................
362,060 161,640
Georgia Central............................... 1,645,554 1,265,518

Net
receipts.
$37,850
417,093
120,9S4
78,907
143,830
420,231
126,204
187,566
778,036
67,080
47,579
95,196
209,793
151,536
627,638
197,359
839,604

Profit
P- ct.
14 .20
9 .40
6 .90
6 .23
10 .10
8 .60
5..58
6 90
12 .57
4 47
21 .25
9 .76
8 .47
8,.31
16,.18
16 74
22 .40

Cost.
$265,000
4,437,990
1,738,600
1,262,781
1,419,672
4,895,349
2,262,000
2,689,755
6,188,033
1,498.535
219,162
973,300
2,476,548
1,823,639
3,879,600
1,179,447
8,700,000

Total.................................... 9,543,405 5,526,157 41,346,484 16 .24 40,909,411

ABOLITION OF CANAL TOLLS IN CANADA.

The project for abolishing tolls on merchant vessels passing through the Pro­
vincial canals has passed the Canadian Legislature, and is now a law. Hence­
forth the produce of the Western States and of Upper Canada, taking the St.
Lawrence route to the ocean, will have the advantage of free transit through a
long line of artificial navigation. The government have sacrificed a hundred
and fifty thousand dollars of revenue; or, rather, that amount is made up by
general tax from other sources. Last year the number of vessels passing through
the canals of Canada was 26,466, with a tonnage of 2,455,021. Of these,
22,800 were Canadian, with a tonnage of 1,828,383. Deduct 300,000 tons for
the traffic on the local canals, from which the tolls are not removed, and there
is still a balance of Canadian over American tonnage of 926,638. The pre­
dominance of benefit to Canadian commerce from abolition of the tolls will not
be, however, in anythiug like so large a proportion ; for, small as may be the
difference produced in favor of the St. Lawrence route by remission of these
dues, it will still attract a large diversion of trade from the States, unless coun­
teracted by a corresponding diminution of charges upon American routes.




116

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

JOURNAL OF M IN IN G , MANUFACTURES, AND ART.
IRON PRODUCTION FOR 1859 IN EASTERN PENNSYLVANIA.

The following statements, made up by the Secretary of the Board of Trade,
will show tbe extent of the iron production of Eastern Pennsylvania :—
The proprietors of works in the Schuylkill and Lehigh regions have, in most
cases, been personally consulted for the results given below for 1859, and they
are very near to absolute accuracy. For the Susquehanna regions, upper and
lower, this accuracy was naturally unattainable, and the statistics are made up
from the best judgment of such proprietors as have their headquarters in this
city.
In the Schuylkill region nearest this city, there were nineteen steam anthra­
cite blast furnaces, out of a total of twenty-eight existing there, in blast during
1859. This includes five furnaces at Lebanon, the location of which is some­
what nearer the Schuylkill than the Susquehanna, and of which the production
is divided in seeking a market—part going to Pittsburg. There were also five
charcoal furnaces in blast in the same district, producing about 1,000 tons of
iron each. Several establishments, embracing two or more furnaces, had but
one continuously in blast, so that nearly all the separate proprietary interests
were more or less active.
The following was the production of this district in 1859 :—
Anthracite furnaces of the Schuylkill proper.................................... tone
“
“
at Lebanon.................................................................
Charcoal
“
of the Schuylkill.......................................................

48,500
25,000
5,600

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

79,000

For 1858 the exact production could not be obtained, but it was variously
estimated at 38,000 to 45,000, and was probably about half that obtained in
1859. During the former year most of the furnaces goiDg out of blast in 1857
remained idle, and did not resume until late in that year, or early in 1859.
In the Lehigh region the anthracite steam furnaces were unusually active in
1859, producing an aggregate of nearly 135,000 tons of pig iron. The stacks
here built are the largest in use, several being more than 18 feet across the bosh,
and producing proportionally more iron than the furnaces of the Schuylkill,
which last do not exceed 14 feet, and are generally but twelve.
But three or four furnaces remained idle in the Lehigh region during 1859,
and one new rolling mill was built for the business of 1860. Several of these
furnaces produced the enormous quantity of 10,000 tons each during the year—
a considerable excess over any previous production. The Thomas furnaces, and
part of the Lehigh Crane Company’s works, produced at tbe rate here named,
and the works last mentioned made up a total of nearly 42,000 tons as its ag­
gregate for the year.
From the Susquehanna iron-making region we have less definite information.
Many furnaces were put in blast in 1859 which had been out for 1858, and the
general testimony is that the aggregate of anthracite iron made was about the
same as in 1857. As near as may be estimated for furnaces for which positive




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

information ig not attainable, the anthracite production of the vicinity of the
Susquehanna was about 75,000 tons for 1859. The charcoal iron made in this
district is much more difficult of access for the last year ; but as the area is
large, and timber often abundant, it was probably 20,000 tons. Taking this
estimate, with the better known production of the Schuylkill and Lehigh, we
roughly state the total of charcoal iron for Eastern Pennsylvania at 39,000 tons.
The following is a tabular statement of the iron production for 1859 and previous years:—
A N T H R A C IT E

IR O N .

1856.

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

Tons.

121,021
43,275
39,704
39,484
243,484
CHARCOAL

1859.

1858.

1857.

Tons.

Lehigh region...........................
Schuylkill region......................
Main Susquehanna..................
N. W. branches Susquehanna..

Tons.

Tons.

118,299
48,310
35,257
40.502

100,000
35,000
25,000
25,000

137,822
73,500
37,000
37,500

237,368

185,000

286,332

IR O N .

1859.
5,000
5,500
20,000

Lehigh region.............................
Schuylkill region.........................
Susquehanna region....................

30,500

Total...................................
P R O D U C T IO N

NEAR

P H I L A D E L P H IA

FO R

1859.
Charcoal.

Total.

Lehigh....................................... .
Schuylkill..... ..............................

187,832
73,500

5,000
5,500

140,832
79,000

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

211,332

10,500

221,832

Anthracite.

The value of this quality of iron, at the low average price for anthracite of
$22 per ton, which was the ruling quotation for the year, is $4,649,304, to which
the value of the charcoal iron produced would add enough to make up the sum
of $5,000,000.
ANALYSIS OF P LATINA AND GOLD IN MISSOURI.
BY DR. THEODORE WEISZ.
[Translated from tlie Mississippi Ilandel Zeitung.]

My investigations upon the average value of the precious metals found in the
mineral of Madison County, Mo., being now completed, enables me to publish
the result of my labor.
There was brought forth from the depth of six feet beneath the surface a con­
siderable quantity—this was pulverized, and of this there was taken an average
trial specimen for investigation.
The result of the investigation was, that there was found in this ore 0.00043
per eeut gold, and 0.00086 per cent platina, which makes an aggregate of 739
grains of gold per ton, and 1,478 grains of platina per ton.
The value of the gold is .......................................................
The value of the platina is ...................................................

$29 56
18 58

Or a total of..............................................................

$48 14

Although this yield shows a sufficiently large result to make it worthy of




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

working, there is yet cause to presume that the quantity of precious metals in­
creases in proportion as the shaft is deepened. I will, therefore, publish from
time to time communications upon the product.
In order to form an opinion as regards the working ability of this mining con­
cern, I herewith present a table showing the value of the gold ores most known,
from which it can be seen that the mines in Madison County belong not to the
poorest, and deserve, indeed, such attention that there may be found capitalists
who, by participation, i. e., by contributing to the enlargement of pecuniary
means, could cause a “ go ahead,” and who would carry on the business upon a
large scale, inasmuch as material enough is on hand to last for centuries :—
_

1

«

.

• .

f

y .

A C l t O l l t (^Vi'

1 In the Nagybangoer district, m Hungary,
per tun.
the richest ores...........................
0.0048
2 In California, year 1849, special cases... .
0.156
In California, at present time....... ..........
0.00027
8 Reichenstein, Silesia, arseuial residue.. . .
0.002867
0.0015
4 Kremnitz, upon prepared ores......
5 Nagybangoer district, the inferior ores...
0.00088
6 In the Altay silver and gold ores........... .
0.000781
7 Aranyca Idna, Hungary ores........
0.000651
8 Kremnitz, unprepared ores............
0.0005
9 In the Ural, gold sand containing.
0.0005
10 Salzburg, unprepared ores.............
0.000156
11 Frey berg, Saxony, in the pyrites of iron..
0.000004
12 Itammelsberg Harz........ ..........................
1.730000
13 Rheinsand...................................... 1.000000132
14 Freyberg, Saxony, layer and passages... .
..............
15 Upper Harz, in the zinc-blend..................
..............

Grains.

Value.

8 ,2 6 7

$83 00

2 6 ,8 8 0

1,120 00

480

19 2 0

407

16 28

258

10 32

1 5 1 .3

6 04

1 3 4 .3

5 36

111

4 45

86
86

3 44

2 6 .8

11. 2
2 .3 5

3 44

1 07
2 45
0 94

2 .2 7

0 09

0 .5

0 02
0 02

0 .5 3

PHOTOGRAPHY HV MACHINE BUILDIYG.

For copying working drawings, this process is much used in large shops. The
government has employed it for some years. Tracings from perfected drawings
may be inaccurate—figures especially may be wrongly copied, but a photograph
is of course sure to be right, and prevents many mistakes which are not cheaply
rectified in the finished work— when unmatched'parts come together and do not
fit.
The cheaper productions of engravings of machinery, etc., will be of great
advantage to the professions and trades concerned. Pictures on blocks for woodcuts are quite commonly made by the photographic process instead of the drafts­
man’s pencil. For perspective representations, this lessens the expense, and per­
fects the lines. It is of eourse inapplicable to sectional and strictly mechanical
drawings, in either plane elevation or isometrical perspective. Photographing
on stone has been used for the same purpose— for making the picture to be en­
graved. Recently, the engraving itself, or rather the lithotype—the impression
on the stone which produces the pictures on paper, has been done by photography
without the aid of subsequent engraving. Photography has also been applied to
copper printing. These arts are already beginning to be a commercial success,
and are rapidly improving.
SAW CAPACITY.

A circular saw, 2} feet iu diameter, and making 270 revolutions per minute,
will saw 40 square feet of oak and 70 square feet of spruce per hour per horse­
power.




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

119

PROGRESS— SCALES.

Art has by no means exhausted itself either in the fine or mechanical depart­
ments. In the latter, particularly where usefulness and economy are both com­
bined, astonishing progress has been made within the last few years. In this re­
spect it must be conceded that the American artisan excels those of any other
country. Weighed in the balance of a just criticism, all are obliged to admit
that the scales of F a i r b a n k s & Go., New York, who have devoted their time
and attention to the science of weighing, as applied to the compound balance,
by which it has been brought to the highest perfection, are, without exception,
the best ever invented. We know, whereof we affirm, because we have tested
their value, and are fully satisfied of their superior merits. The various descrip­
tions of their platform scales embrace every variety ol size and form, from the
mammoth contrivance of a canal lock scale, capable of weighing 500 tons, to
the nice and delicate balance required for chemical analysis and pharmacy, in
which the weight of a thousandth part of a grain is marked by a sensible deflec­
tion of the beam. The introduction of these scales has wrought a revolution in
the transaction of various business, and their accuracy is such that a uniformity
in weights has been established all over the country, thus making them a national,
legalized standard. Nor are they confined to the United States; they have
found their way to almost every part of the civilized world, and are adapted to
the standards of all countries, so that it may be said all nations, if not “ weighed
in these balances,” at least weigh by them. They are adapted to every branch
of business, and so great is the facility for weighing that measure has given
place to weight. Instead of the half bushel measure for w'heat, corn, and other
cereals, as formerly used, whereby only a smali number of bushels could be
measured in a day, now, by the apparatus connected with the platform scales,
thousands of bushels are weighed in a single hour. Bailroad cars, loaded with
live stock, coal, iron ore, and other heavy freights, are weighed by platform
scales constructed under the tracks ; and canal boats, freighted with hundreds
of tons, are weighed with dispatch and accuracy. At the company’s warehouse
in New York may be found every variety and style of platform scales required
in business transactions ; also, weighing beams, gold balances for banks, brokers,
jewelers, druggists, confectioners’ scales, letter balances, and every descriptions
of weighing apparatus.
UM TS OF POWER.

An active man in the prime of life can raise 100 pounds one foot per second,
working 10 hours per day ; a horse can raise 550 pounds in the same space of
time. These are units of horse and man-powers.
One gallon of water converted into steam will raise 5J gallons of water at
50° up to 212°, which is the sensible heat of the steam ; there are, therefore, 944
degrees of latent heat in the steam.
SALT.

In America we have springs of salt water ; in Cheshire, England, there are
beds of red salt, 30 feet thick ; in Poland there are salt mines extending for
several miles in caverns, at a depth of 600 feet beneath the surface ; at Cordova, in
Spain, there is a mountain of salt 300 feet high ; and in Peru there are salt
mines 10,000 feet above the level of the sea.




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

There are few of the metals possessed of the same interesting relations as the
one we have now before us. The archaeology of tin is more than usually attrac­
tive, and in the very dawn of history it is mentioned by the great Hebrew law­
giver as one of the metals to be purified by fire. The early inhabitants of Etru­
ria and Central Italy were skilled in the applications of tin ; the nations of the
Levant were likewise accustomed to its use ; but the most interesting point to
us in the history of this metal resides in the memorable traffic which the Tyrian
mariners pursued with the natives of the British Islands. Perhaps the whole
catalogue of Phoenician commerce, so eloquently denounced by the prophet Eze­
kiel, could yield no article of superior value to this Cornish metal; indeed, it
must have been more valuable to them than the cedars of Lebanon or the gold
of Ophir. There was at that period an enormous consumption of bronze, by
contemporary nations, in all their instruments of art and war ; and tin—a metal
of rare occurrence and limited distribution—is the most essential constituent of
bronze, as we learn from Pliny. Tf we recollect, too, that the Phoenicians pos­
sessed a monopoly of this commerce, we shall then be able to conceive the ines­
timable value to its discoverers of this prolific tin country. So fully, indeed,
was this importance recognized, that those astute merchantmen anxiously con­
cealed from their rivals and contemporaries the geographical situation of these
“ tin islands.” But the secret at length transpired. Publius, a Roman proconsul in Spain, after several unsuccessful efforts, opened to his countrymen the
treasures of this undiscovered Dorado; and all through the long period of his­
tory which has since elapsed, Cornwall has continued to furnish an inexhaustible
supply of the metal. The principal localities of tin are Cornwall, Bohemia, and
Saxony, in Europe; Malacca, Pegu, and Banca, in Asia. Cornwall, notwith­
standing its prodigious and long-continued drain, is still the most prolific tin dis­
trict in the world. It has been calculated by Mr. Porter and others that Corn­
wall yields annually upwards of 50,000 tons of the metal, the value of which
varies from £400,000 to £500,000.
CLASSIFICATION OF LEATHER SKINS.

The stoutest leather is made from ox-hides. Buff leather was formerly made
from the hide of the buffalo, but it is now furnished by the cow-hide. Calf-skin
supplies the great demand for the upper part of boots and shoes. Sheep-skins
form a thin, cheap leather ; lamb skins are used for gloves; goat and kid-skins
form a light leather of tine quality ; deer skins are usually shamoyed, or dressed
in o il; horse-hide is prepared for harness work, &e.; and this, with seal skin, is
also used for making enameled leather ; dog-skin makes a thin tough leather,
but most of the gloves sold as dog-skin are made of lamb-skin. Hog-skin makes
a thin, porous leather, and is used for covering the seats of saddles.
In making shamoyed leather, of which washing-leather is a cheap example, the
skins of deer, goats, and sheep are impregnated with oil instead of the other in­
gredients mentioned above. After a certain preparation the skins are beaten
for many hours with heavy wooden machines, and cod oil is forced into the pores.
Sheep skins, when simply tanned, are employed for inferior book-binding, and for
various other purposes for which a cheap leather is required. The mooli or im­
itation morocco, and most of the other colored and dyed leathers used for




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

121

women’s and children’s shoes, carriage linings, and the covering of stools, chairs,
sofas, writing tables, &c., are also made of sheep-skin. Lamb skins are mostly
dressed white or colored for gloves.
Japanned leather of various kinds is used in coach-making, harness-making,
and for various other purposes. Patent leather is covered with a coat of elas­
tic japan, which gives a surface like polished glass, impermeable to water ; and
hides prepared in a more perfectly elastic mode of japanning, which will permit
folding without cracking the surface, are called enameled leather; such leather
has the japau annealed, something in the same manner as glass; the hides are
laid between blankets, and subjected to the heat of an oven at a particular tem­
perature during several hours, until fiuished'properly.
In making Russia leather the skins are first freed from the hair or fleece by
steeping them in an ash-lye, then rinsed, fulled, fermented, and cleaned. They
are then soaked for forty eight hours in a bath composed of water mixed with a
paste of rye flour. The skins, when taken out of the bath, are left in tubs for
fifteen days, then washed, and immersed in a boiler containing a hot decoction
of willow bark, in which they are handled and pressed for half an hour. This
manipulation is repeated twice a day for a week, after which the tanning infu­
sion is renewed, and the process is repeated on the same skins for another week,
after which they are exposed to the air to dry, and are then dyed and curried.
Morocco is the skin of a goat, or some other animal resembling it, called menon, and common in the Levant. It is dressed with sumac or galls, and colored
with any color, and is much used in upholstery, book-binding, for ladies’ shoes,
&c. But most of the morocco to be obtained in this country is prepared here
from sheep-skins. The name is derived from the kingdom of Morocco, whence it
is supposed the manner of preparing this leather was first borrowed. Morocco
is, however, brought from the Levant, Barbary, Spain, Flanders, and Russia—red, black, yellow, blue, &c. The process has been latterly greatly simplified,
and the brilliancy and durability of the Turkey red successfully imitated. The
peculiar ribbed appearance of morocco is given by means of a ball of box­
wood, on which is a number of narrow ridges. Sheep-skin morocco is prepared
from split skins, a peculiar arrangement of machine being employed for this pur­
pose. Instead of stretching the skin on a drum, it is passed between two rollers,
the lower one of gun-metal and solid, and the upper one of gun-metal rings ;
while between the two rollers, and nearly in contact, is the edge of the sharp
knife, which is moved by a crank. When a skin is introduced between the two
rollers it is dragged through against the knife edge and divided, tire solid lower
roller supporting the membrane, while the upper one, being capable of moving
through a small space by means of its rings, adjusts itself to inequalities in the
membrane; where this is thin the ring becomes depressed, and where it is thick
they rise up, so that no part escapes the action of the knife. The divided skins
are not sewed up into bags, as from their thinness the can be tanned quickly.
TEMPERATURE,

In man the temperature of the blood is 98°, in sheep, 102°, in ducks, 107°.
During the chills of ague the heat of man’s blood falls to 96° aud 94°, while at
the height of fever it rises to 102°, and even to 105°.




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

The London Times says that the number of furnaces in full work in 1859, in
the northeastern iron district, comprising Northumberland, Durham, Cleveland,
was sixty eight, or ten more than the average for 1858. The total production
of last year was 620,000 tons, of which 46,934 tons were exported and 524,066
tons were used in t-ho district, shipped coastwise, and sent away by rail. The
total quantity thus absorbed was 571,000 tons, leaving a surplus of 49,000 tons
over the deliveries. The stock, December 31, 1858, was 25,000 tons, and the
estimated stock at the close of 1859 was, therefore, 74,000 tons. Against
these stocks of pig iron, large sales have, how’ever, been made for future delivery.
Four furnaces were completed and put in blast in the district in 1859 ; five more
are now nearly ready, and six more have been begun.
The Philadelphia North American remarks, that it is to be regretted that there
are not equally prompt and trustworthy returns of the American iron produc­
tion at the termination of every year. It will be seen that the average produc­
tion of the English furnaces was about 9.000 tons, which, although large, is less
than that of the Lehigh anthracite furnaces. These produced, in four or five
instances, about 10,000 tons to the furnace during 1859. The total production
of anthracite iron in the Lehigh region, in 1859, was about 135,000 tons, and in
the Schuylkill about 80,000 tons, in both cases a considerable advance upon last
year. In the circle of Philadelphia business, it is estimated that the production
for the past year was probably 250,000 tons of pig iron, but for more distant
places it is feared that the return will present a far less encouraging statement.
THE MOTION OF A CANNON BALL,

The Scientific American says the latitude of New York city is 40° 42' 40" ;
and as the degrees of longitude diminish in length from the equator to the poles,
the length of a degree of longitude here is about 52J miles, or more nearly, say
277,250 feet. As the earth turns on its axis once in 24 hours it carries every­
thing on its surface, from west to east, to the distance of one degree in four
minutes; so that the city of New York, with everything else in this latitude, is
constantly running round towards the east at the rate of about 13 miles a min­
ute, or, more accurately, 1,155 feet in a second. Now, this is just about the
velocity of an ordinary cannon ball. Hence, if a cannon in this latitude is fired
when pointing exactly west at a fort, the ball is simply stopped in its eastern
motion— the cannon runs away from it, and the fort comes up against the hall
with a crash ! This refers merely to the motion of the ball iu relation to the
diurnal rotation of the earth : if we attempted to ascertain the absolute motion
of the ball, considering the motion of the earth in its revolution around the sun,
and the motion of the sun among the stars, we should find the problem not only
very complicated, but absolutely insoluble in the present state of astronomical
science ; indeed, it is impossible to conceive that we ever can have such know­
ledge of the universe as to enable us to determine the absolute motion of the sun
in space.
VAPOR.

In a vacuum water boils at 88°. A t the boiling point the vapor of water has
the same density as the atmosphere ; it is the same with all other vapors pro­
duced by boiling liquids.




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

123

SPINDLES IN ENGLAND AND COTTON SUPPLY.

The following interesting paper by Mr. H e n r y A s h w o r t h , of Bolton, Eng­
land, is taken from the Manchester Examiner and Times of the 29th February :
The alarm which has recently been raised on the subject of an adequate sup­
ply of cotton, appears to have roused much attention. The discussion in the
House of Lords, as well as in the Commons, and the numerous articles which
have followed in the public journals, indicate a degree of interest which would
appear to call for the disclosure of the following important facts:—Last year the consumption of raw cotton by the manufacturers of Great
Britain was 2,296,700 bales, or 973,800,800 pounds.
In 1849, now ten years ago, it was 1,590,400 bales, or 629,798,400 pounds.
The increase in the ten years having bqen 55 per cent, or 706,300 bales, or
344,002,400 pounds.
The above progress, when explained in the language of practical life, repre­
sents an increase of consumption, in the above period, at the rate of 70,000 bales
a year, or 1,350 bales per week.
In the next place, let us have our attention directed to the amount of increase
which has been going on in our spindles.
In the year 1850, according to a Parliamentary return, there were in Great
Britain (inclusive of Ireland) 20,858,062 spindles employed upon cotton, and,
having reference to the annual consumption at that period of 629,798,400 pounds,
it amounts to 300 pounds per spindle.
Therefore, if we apply these data to the cotton consumption of last year, viz.,
973,800,800 pounds, we shall find that the manufacturing power we now possess
is that of 32,460,026 spindles, showing an increase in ten years of 11,601,964,
or an average rate of progress of 20,718 spindles per week, and requiring a
weekly supply of 1,350 bales of cotton. Meanwhile, that is to say during the
ten years in question, the principal increase of growth has been in the United
States, and, large as it may appear, it has barely kept pace with the increase of
demand, and the supplies held in the market have been gradually diminishing,
and often reduced to a very scanty amount.
FORECAST OF THE FUTURE OF SPINDLF.S AND COTTON.

The machinists of this country have, perhaps, never before found themselves
so fully employed, and, according to information derived from them, there is now
going on a greatly accelerated increase in the erection of mills, and in the ex­
tent of spinning machinery in course of preparation, not alone in Great Britain,
but also in all parts of Europe as well as in the United States.
The new machinery now constructing for British account has been put down
at 45,000 spindles per week, which is more than a two-fold rate of increase, as
compared with the period above referred to. These will require to be supplied
with their 30 pounds of cotton per anuum for each spindle ; and at no distant
day the increase of consumption for the new spindles alone will amount to no
less than 160,000 bales per year, against a rate of 70,000 bales in the last ten
years, or a future supply of 3,000 bales per week, as against the former rate of
1,350 bales. Let it also be borne in mind that the cotton manufacturers of
Great'Britain constitute only one-half the consumption under our immediate
notice, while the other half is carried on in the various manufacturing districts
of Europe and in the United States. Now, should the like rapidity of progress
in'manufacture be going on in these other countries, it must be obvious that an
extension of growth will very soon be required of more than 300,000 bales a
year.
It may be well for us to consider the practicability of raising, with the re­
quisite speed, so large an addition of our supplies, in order to meet the growing
demand ; let us, therefore, as iu the former case, have reference to what has already
been done in the increase of cotton culture during the past ten years, and select
for reference as to capability the United States, a country from which our manu­
facturers are deriving nearly four-fifths of their present supplies, aud in which




124

Statistics o f Agriculture, etc.

the capabilities of extension are known to be so ample, and the energetic char­
acter of the planters so reliable.
The average product of the crop of the United States for the years 1849-50
to 1853-54 was 2,731,830 bales. The average product of the five years, from
1854-55 to 1858-59, was 3,256,029 bales.
Taking the extremes between the first and last of the above years, the differ­
ence will be 1,754,775 bales, or a rate of progress of 175,000 bales per annum.
The fluctuations occurring from year to year aie deserving of notice; they
indicate the uncertainty which must ever impend over the future, though they do
not materially obstruct the onward progress of success.
It will be marked that there is not anything decisive to be gathered from the
grouping of these figures, representing crops ; the averages do not indicate
certainty of production, and yet, amidst all the variations, there are marks of
elasticity and encouragement in the prospects they hold out.

STATISTICS OF AGRICULTURE, &c.
AGRICULTURE OF OHIO.

The annual report of the Ohio Commissioner of Statistics remarks:—We
have now complete returns of all agricultural crops, for the State of Ohio, in
three years of the last twenty ; and the crops of wheat and corn iD eleven yearsThese are enough to determine with sufficient accuracy the general aggregate of
arable lands and the products for twenty years, the averages produced, and the
value of agricultural labor. These facts are of the highest interest, and will
stand in favorable contrast, as I have before remarked, with similar exhibits for
any other country, even the most highly cultivated.
The following table presents a view of all the grain crops, with those of hay
and potatoes, for the years 1839,1849, and 1858 :—
Corn...........................
Wheat.......................
O a t s .............................

Barley.......................
Rye............................
Potatoes....................
H a y ..........................
Buckwheat................
Aggregate of above exclusive of hay

1819.

1849.

1858.

33,668,144
16,571,661
14,393,103
212,440
814,205
5,805,021
1,022,037
683,139

69 078,695
14,487.351
13,472,742
354,358
425,918
5,245,760
1,443,142
638,060

50,863,502
16,655,483
8,026,251
2,103,191
874,513
5,000,000
1,806,441
791,921

72,097,713

93,902,884

84,314,941

It will be seen that the crop of 1858 was below that of 1849, and only about
17 per cent advance on that of 1839. The value of the crop of 1858 was much
greater than either, and probably full double that of 1839. In this entire period
of twenty years, the prices of products had been gradually but regularly rising,
especially so of corn, the great staple of the State.
The above three years, however, are very far from being correct tests of an
average crop, for it happened that each of these years was relatively a bad year
for crops. Let us then take the years 1855 and 1857, which we have for wheat
and corn, and make a proportional (as between 1849 and 1858) for the minor
crops. We have then this result:—




Statistics o f A griculture, etc.
1855.
Corn....................................................
Wheat.................................................

125
1857.

Barley. Rye, and Buckwheat.............
Potatoes..............................................

87,687,434
19,569,320
20,000,000
2,600,000
5,000,000

82,555,186
25,397,614
25,000,000
3,000,000
6,500,000

Aggregate.................................

134,756,754

141,452,800

We see here a wide difference. The crops of 1855 were, up to that time, the
largest ever grown in the State; but those of 1857 exceeded those of 1855 by
at least 7,000,000 bushels.
Taking the crop 1849 as a unit of measure, we find that the crop of 1855 was
an advance of 40 per cent on that, and the one of 1857 an advance of 50 per
cent.
As the crop of 1857 was very good, and the crop of 1858 a very bad one,
and they are the most recent we have, we shall obtain a very fair view of the
average production of grain in this State by taking the average of these two.
Thus:—
Aggregate grain crop of 1857...............................................bushels
“
“
“
1858...........................................................

141,452,800
84,314,841

Sum of the two years................................................................

225,767,741

Average production of the State, 112,883,870 bushels. Taking each sepa­
rate article, this average would be made up as follows, viz.:—
Cora..........................bush.
Wheat...............................
Oats.................................

70,000,000 |Other grains..............bush.
20,000,000 Potatoes............................
16,000,000 |

3,000,000
5,000,000

This is slightly over the amount, and occurs from the absence of fractions.
It is certain this State has in several years produced a greater aggregate. Na­
ture, however, never produces averages. If one crop is an average, another is
much greater or less. The actual results present great departures from the ab­
stract average. This mathematical ratio, however, is valuable, for, like a straight
line, it presents a fair standard of comparison. As a general principle, the ag­
gregate results of crops alternate with alternate years. It is very rare that two
consecutive years, all crops are either excessive or deficient. It may be regarded
as a law of experience, that if the general crops are deficient in one year, it will
be made up in the next, and the converse. A more certain mode probably of
determining the real advance of a State in agricultural products will be to ascer­
tain the increase of arable land, and the degree of cultivation. In a series of
years, the results must correspond very nearly to the number of arable acres.
As there is a mathematical average for a given number of acres in a given series
of years, so if this number of acres be increased, the general averages must be
increased.
AGRICULTURE IN HAYTI.

President G e f f r a r d , with the advice of the Council of State, has published
a decree establishing farm schools in all the arrondissements of the republic.
Each school is to have fifty pupils, who are to be supported by the State.




126

Statistics o f A griculture, etc.
PRODUCTS OF WISCONSIN,

ANNUAL

A G R IC U L T U R A L , F A R M , M A N U F A C T U R IN G , A N D
OF

Articles.

Apples..........................................
Barley...........................................
Beans and peas...........................
Buckwheat....................................
Corn-.............................................
Oats...............................................
Potatoes.......................................
Eye................................................
Wheat...........................................
Hay..............................................
Pig iron.........................................
Clover seed...................................
Flax...............................................
Grapes...........................................
Brass seed.....................................
H em p...........................................
Butter............................................
Cheese...........................................
W ool.............................................
Sugar.............................................

M IN E R A L

Acres.

29,404
3,521
16,729
211,324
228,578
32,630
22,014
603,811
340,864

“ raised...................................
Cattle and calves on hand............
“
“
slaughtered....
Hogs on hand...............................
“ slaughtered.........................
Horses and mules..........................
Sheep and lambs on hand............
“
“
slaughtered. . . .
Boots and shoes............................
Cotton goods.................................
Paper.............................................
Whisky..........................................
Wine..............................................
Total.................................

S T A T IS T IC S O F

TH E STAT

W IS C O N S IN , E TC.

1,488,875

Quantity.

45,069 bush.
370,050 “
49,540 “
146,336 “
5,986,654 “
4,743,981 “
2,900,499 “
267,014 “
7,029,273 “
522.653 ton9
2,637 “
167,033 lbs.
8,200 “
10,948 “
1,177,99,3 “
194 “
6,694,255 “
580,104 “
582,538 “
802,491 “
4,129,030 “
2,823,620 “
392,114 No.
25,449 “
252,599 “
160,136 “
82,524 “
354,657 “
25,751 “
148.444 pairs
16,208 yards
9,587 reams
276,549 galls.
2,611 “
39,040,112

Value.

¥50,235
182,640
42,971
76,160
2,544,631
1,594,627
893,037
158,531
6,972,701
1,842,917
4,718
18,741
695
1,785
66,411
56
853.453
55,999
190,678
86,459
6,401,434
4,746,901
502,652
603,257
1,458,928
4,671.212
430,202
55,400
397,563
1,593
11,676
80,010
4,598
133,986,781

INDIGO CULTURE,

The indigo insurrection in Bengal, says the Boston Courier, is an affair of
some commercial consequence. Whatever may be the result of it, the produc­
tion and manufacture of that staple article of trade will at least receive a tem­
porary and serious check. We, as well as England, now derive our principal
supply of Indigo from Bengal, from whence the annual export reaches, probably,
the value of fifteen millions of dollars. Half a century ago, or more, this con­
tinent supplied the world with indigo, it having been extensively cultivated in
the Central American States and Venezuela, and the Antilles, where its produce
was for a long time greatly superior to that of India. The Spanish process of
manufacture, which was employed on this continent, was introduced into Bengal
somewhere about the beginning of the present century, and the produce of
America was soon superceded by that of the more genial soil of India.
The present disturbance in Bengal, which is called an insurrection, is in fact
a “ strike ” of the peasantry, or the ryots, as the native farmers are called.




Statistics o f Agriculture, etc.

127

Practically, the system upon which these ryots are compelled to labor, is a sys­
tem of slavery. The tenure by which the lands are held, and the entire control
over the culture which is exercised by the English planters, constitute a system
which, iu everything but the name, is slavery. The production of Indigo is dis­
liked by the natives, for several good reasons. The crop is a delicate and pre­
carious one, both as to quantity and quality, and requires great skill in the man­
agement. It demands minute attention and excessive exertion, and is, moreover,
very uncertain in its results—the difference in the return of the drug, from the
same quantity of plant, being in different years excessive. The peasantry have
no other than a nominal, rental right to the soil which they cultivate; and they
are kept poor enough to submit to almost any terms of culture which the actual
landowners, or planters and speculators who act under them, are induced by their
own interests to impose. To overcome the prejudice of the natives against the
culture of indigo, the English planters, or indigo factors, have for hall a century
resorted to a custom of making advances to the ryots, and thereby tempting them
to engage in the production. The indigo factories in Bengal are numerous, and
some of them are conducted upon a very large scale. The factors supply the
seed of the indigo plant, and furnish the money necessary for the cultivation to
the farmers, who bind themselves to deliver to the factor by whom they are thus
supplied, the whole number of plants they produce, at a stipulated price, which
of course is low enough. For every rupee, we believe, the ryot has to furnish
four to eight bundles of indigo. This bargain is involuntary on the part of the
ryots, and unjustly throws upon them the whole risk ; for in ease of a failure of
a crop, from a bad season or other accidental cause, the advance debt runs into
the following year, when the larmers have to cultivate without any money at all.
This unequal contract, as will be seen, may become exceedingly oppressive to the
farmers, who, in relation to the factors, are forced into the position of debtors,
and compelled to deal year after year exclusively with the same party, and under
circumstances which invite injustice and oppression.
Within a few years the price of rice has advanced, while the Bengal peasants
have been compelled to continue the cultivation of indigo at low rates. Their
lands and labor have been employed in paying off old debts at low prices of
indigo plants, while high profits might have been gained by the production of
rice. A t length the patience of the poor ryots has given way, and oppression
and the sting of poverty have goaded them to open rebellion. They have refused
to fulfill their engagements with the planters, and have struck work and as­
sembled in bands, to compel others to abstain from the cultivation of indigo
altogether. In pursuance of this determination, some outbreaks have been com­
mitted, in resisting which the factors had killed several of the insurgents. It
was necessary that the seed should be sown before May, to insure a crop. Unless
the ryots could be compelled or induced to sow, or to allow the seed to be sown,
it was supposed that a million pounds sterling would be lost, and advances of a
million more irretrievably sacrificed. In the emergency, the planters applied to
the government, of India for aid, and a very stringent, but temporary, law had
been passed, for enforcing the fulfillment of the indigo contracts. This law pro­
vides that any man who has received cash on promise to sow indigo, and does
not sow, may be fined five times the amount and imprisoned. It also provides
for the punishment, by imprisonment, of such as shall instigate breaches of con­




128

Statistics o j Agriculture, etc.

tract, or spoil growing crops. Large bodies of military police and irregular
cavalry have been ordered into the disturbed districts to support this law. This
was the state of the war at the last accounts.
The difficulties attending the production of indigo—some of which are illus­
trated by this strike of the cultivators in Bengal—are so great as to threaten a
general diminution in the use of the article. Indeed, there seems to have been
no increase in the quantity produced for the last thirty or forty years. There
has been a material discontinuance of blue in articles of dress, and a consequent
decrease in the consumption of indigo. It is still produced in Central and South
America, but in diminished quantities. From San Salvador, (where the plant
grows in great perfection,) Honduras, Nicaragua, and Venezuela, it is yet, how­
ever, an important article of export. San Salvador, fifty years ago, threw
1,800,000 lbs. into trade. Not half that quantity, probably, is now produced
there. Twenty years ago the value of indigo produced in Venezuela was about
$600,000. Ten years ago the production had diminished to about one-third of
that value. It is produced in greater or less quantities in St. Domingo, (where,
at one time, there were no less than three thousand indigo plantations.) in the
Philippine Islands, in China, in Mauritius, in French India, in Egypt, in Morocco,
& c.; but nowhere so extensively as in Bengal, where it constitutes the chief item
of export, its value being equal to nearly one-half of the total exports to Europe
from the province. The number of indigo factories in Bengal is not far from
five hundred.
RULE FOR PREDICTING THE WEATHER.

Galignani’s Messenger contains the fo llo w in g A b o u t a year ago we men­
tioned, without attaching much credit to it, an empirical rule, by which the
weather might be predicted with tolerable certainty during the last 24 or 25 days
of a month, from that which prevailed during the former ones. This rule is now,
however, again brought forward, with such additional arguments in its favor as
to induce us to return to the subject. It appears that it was the late Marshal
B u g e a u d who discovered it, in an old Spanish manuscript; he was struck with
the great number of observations from which it had been deduced, extending
over more than fifty years, and resolved to verify it himself. The result of his
observations was so satisfactory, that he soon got into the habit, in Algeria, of
consulting the rule on all occasions when some important military or agricultural
operation was in contemplation. The rule is as follows :—“ Eleven times out of
twelve, the weather will, during the whole lunation, be the same as that which
occurred on the fifth day of that moon, if on the sixth the weather was the same
as on the fifth. And, nine times out of twelve, the weather of the fourth day
will last throughout the moon, if the sixth turns out to be like the fourth.” The
marshall used to add six hours to the sixth day before pronouncing on the weather,
in order to make up for the daily retardation of the moon between two passages
across the meridian. It is clear that this rule may not be always applicable,
there being nothing to prevent the sixth day from being quite different from the
fourth and fifth. M. d e C o n in c k , of Havre, has just published his observations,
continued for ten months, and which completely confirm the rule.




Statistics o f Population, etc.

129

STATISTICS OF POPULATION, &c.
LONGEVITY IN ENGLAND.

We find in an English publication some interesting statistics in regard to the
duration of human life in England. The article has evidently been prepared
with great care from official documents, and is no doubt as correct in its conclu­
sions as is possible to be upon a subject so intricate and mysterious. The wri­
ter commences with the following remarks:— “ A human being born with a
sound constitution is calculated to live seventy years or upward under favorable
circumstances; but, as we 'well know, all of us are surrounded more or less by
circumstances unfavorable to life, by which, practically, our term of years is
liable to be greatly shortened.”
Existence, as to duration, is proverbially the most uncertain of all things, and
this, because from its ignorance, incautiousness, and accidents, life is constantly
coming into collision with the conditions calculated to destroy it. The condi­
tions unfavorable to life come into operation before the human being has seen
the light. They continue in operation throughout the whole of its appointed
period; so that, out of any large number born, a certain proportion die in the
first year, a certain proportion in the second, the third, and so on until all are
gone—only a certain comparatively small number attaining the full age which
nature promises to sound life maintained in favorable circumstances.
It appears that during the eighteen years from 1813 to 1830, there were re­
gistered as burried in England and Wales 3,938,496 persons, of whom 1,942,301
were females.
Of the whole number, 778,083 died before reaching the age of one year, while
266,443 died at that age, and 320,610 whose age was over one and not above
five, making a total of deaths at the age of five years and under of 1,354,000,
or a little over a third of the whole number. There appears to have been a
greater fatality between the ages of twenty and thirty than between those of
thirty and forty or forty and fifty.
The number that died between the ages of ninety and a hundred was 35,780,
of whom 24,183, or over two-thirds, were females ; 1.899 persons, or one in each
twenty-one hundred that died, reached the age of one hundred and upward.
The oldest death was a male of one hundred and twenty-four years. Two males
and one female each reached the age of one hundred and twenty; one male, one
hundred and nineteen ; one male, one hundred and eighteen; one female, one
hundred and. seventeen ; two females, one hundred and fourteen; one male and
one female, one hundred and thirteen ; one male and one female, one hundred
and twelve ; eighteen persons reached the age of one hundred and ten ; eighteen,
one hundred and nine; twenty eight, oue hundred and eight; thirty-four, one
hundred and seven : forty-six, one hundred and six ; one hundred and one, oue
hundred and five; one hundred and thirty-one, one hundred and four; one hun­
dred and ninety-seven, one hundred and three ; two hundred and forty, one hun­
dred and two ; three hundred and fifty-eight, one hundred and one ; and seven
hundred and seven, one hundred. The last mentioned age was reached by two
hundred and thirty nine males and four hundred and eighty-six females— nearly
two to one in favor of the latter.
VOL. X L III.---- NO. I.




9

130

Statistics o j Population, etc.
GERMAN POPULATION,

The German element of the federal population la approximated in some tables
given by the New York Herald, based upon the official reports of numbers an­
nually arrived, and estimating their increase at 1 -J per cent per annum up to the
date of the census of 1850. The results are as in the following tables. The
result shows what is called the German “ element ” as being 30 per cent of the
whole white population. This is assuming that all the Germans have intermar­
ried, and that their progeny retains its German affinities. This is, however, far
from being the case. The number of persons in the United States at the date
of the census, born in Germany, was 1,242,082, or rather less than 30 per cent
of those given above as “ Germans.” Inasmuch as that the increase of most
branches of the European families is about in the same ratio, the German ele­
ment must remain in the proportion of their arrivals, which is about one-half the
number of those who arrived from the United Kingdom. The population of
Germans to those who were native in 1820, and the arrivals from other coun­
tries is only one-eleventh.
The increase of Germans and natives of other na­
tions cannot be defined unless the intermarriages are known. The tables are,
nevertheless, useful.
S Y N O P T IC T A B L E , S H O W IN G

TH E

L A T IO N

No.
i ___
2 ___
3 ___
4 ___
5___
6 ___
7___
8 ___
9 ___
10___
11___
1 2 ....
13 . . .
1 4 ....
15___
16___
17___
1 8 . .. .
1 9 ....
20___
2 1 . .. .
22___
23----24___
25----26----27----28___
29-----

PERCENTAGE
IN

AND THE

States.
Maine..................... ...........
New Hampshire...............
Vermont.....................
Massachusetts...................
Rhode Island....................
Connecticut......................
New York........................
New Jersey......................
Pennsylvania.....................
Delaware...........................
Maryland...........................
Virginia...........................
North Carolina................
South Carolina................
Georgia.............................
Florida.............................
Alabama............................
Louisiana.........................
Mississippi........................
Kentucky.....................-...
Tennessee.........................
Missouri............................
Arkansas.........................

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

..............
..............
..............
Texas .................................... ..............
O hio................................. ..............
Illinois.............................. ..............
Michigan........................... ..............
Wisconsin......................... ..............
Indiana............................. ..............
Iowa................................. ..............
8 0 ...
3 1 . .. . California.......................... ................
District of Columbia........................ ................
Total




NUM BER

T H E U N IT E D ST A T E S IN

OF THE GERM AN

POPU­

1850.

Total
Percentage Total No.
population, of Germans, of Germans.
110,770
19
10
31,797
28,269
9
218,900
22
16,280
11
51,940
14
626,490
17
73,870
15
2,311,786
1,132,773
49
11,899
13
163,244
28
199.024
24
78,210
9
60,165
9
90,652
10
3,496
4
100,808
13
67,201
13
60,652
10
225,952
23
300,810
1,002,717
30
300,080
682,044
43
77,700
209,897
37
212,592
84,036
40
1,980.329
930,741
47
342,468
851,470
42
166,992
397,654
42
122,160
305,391
40
395,360
988,416
40
84,568
192,214
44
24,975
92,597
27
8,272
16
51,587
2 3 ,1 9 1 ,8 7 6

5 ,6 8 8 , 6 2 0

131

Statistics o f Population, etc.
S T A T IS T IC A L T A B L E , S H O W IN G

TH E

PERCEN TAGE

R E N T P O L I T IC A L

Total
Total
Total
Total
Total
Total

OB’ T H E

T A B L E , S H O W IN G

TH E

GERM AN

1850
1850.............. ____
1851.............. ____
1852..............
1 8 5 3 ..............
1854 . .
1855..............
E S T IM A T E

Germans.
45,738
79,540

1 79 648
OF TH E

NUMBER

AND

OF

IN

D IF F E ­

Per
German
cent o f
population. Germ’ns.
5,688.620
24
5,688,620
30
5,478,610
26
2,190,589
2o f
15
1,360,679
2,504,105
43

IR IS H

I M M IG R A T IO N

IN T H E

D E C E N N IU M

Germans.
56,117
86,859
31,874
27,858

Irish.
43,986
57,106
25,097
34,846

1860.

TO

Irish.
117.038
163,256
118,611
113,164
82,302
43,043

P O P U L A T IO N

Tear 1850.
23,191,876
19,553,068
21,767,673
8,626,851
8 508,486
5,820.007

population of the United States..............
white population of the United States...
federal representation...............................
population in the uiue Northern States..
population in the twelve Slave States
population nine Western States...............

S T A T IS T IC A L

GERMAN

R E L A T IO N S .

1856 ..................
1857 ..................
1853 ..................
18 59..................

Total........

GERMAN

P O P U L A T IO N

798,459
IN

TH E

YEAR

German population in 1850......................................................................
Natural increase by the surplus of births, 1J per cent per annum*.. . .
Increase by immigration since 1850........................................................
Increase of the immigration in ten years, at 1£ per cent per annumf. .

1860.
5,688,620
853,290
799,844
119,970

Total of Germans in 1860................................................................

7,461,724

Total population 1850..........................................................................
Natural increase by the surplus of births, 1£ per cent per annum..
Increase by immigration during the last decennium.........................
Increase of immigration at 1^ per cent per annum...........................

1860.
23,191,876
3,378,681
2,456,540
368,480

Probable total population in 1.860...............................................

29,395,577

E S T IM A T E

O F T H E T O T A L P O P U L A T IO N

OF

THE

U N IT E D

STATES

IN

The German population amounts in 18G0 to nearly twenty-five per cent of
the total population of the United States, and to 27 per cent of the total rep­
resentative population.
TABLE SHOWING THE INCREASE OF POPULATION IN SEVERAL STATES AFTER THE YE AR OF
THE LAST CENSUS OF 1 8 5 0 , TO SERVE FOR THE APPRO XIM ATIVE COMPUTATION OF THE
ESTIMATES FOR 1 8 6 0 .
I n cr e a s e
S ta tes.
N e w Y o r k ...........................................

P o p . in 1850.
3 ,0 9 7 ,3 9 4

/----------- P o p u la t io n i n ---------- >
1 8 5 5 _____
3 ,4 4 6 ,2 1 2

p e r ce n t.

n

M a s s a c h u s e t t s ...................................

9 9 4 ,5 1 4

1 8 5 5 _____

1 ,1 3 2 , 3 6 9

2 4 -5

A la b a m a

7 7 1 ,6 2 3

1 8 5 5 ....

8 4 1 ,7 0 4

1 4 -5

F l o r i d a ....................................................

8 7 ,1 1 0

1 8 5 5 ....

1 1 0 ,8 2 3

G e o r g i a ...............................................

9 0 6 ,1 8 5

1 8 5 9 _____

1 ,0 1 4 . 4 1 8

L o u i s i a n a .............................................

5 1 7 ,7 6 2

1 8 5 9 _____

6 4 6 ,9 7 1

H
2 4 -5

I l l i n o i s . . ................................................

8 5 1 .4 7 0

1 8 5 5 _____

1 ,3 0 6 , 5 7 6

10 1 -5

M i c h i g a n ................................................

3 9 7 ,6 5 4

1 8 5 4 _____

6 1 1 ,6 7 2

A r k a n s a s .............................................

2 0 9 ,8 9 7

1 8 5 8 _____

3 3 1 ,2 1 3

7

W i s c o n s i n ............................................

3 9 5 ,3 9 1

1 8 5 5 ....

5 5 2 ,4 5 1

8

I o w a ..........................................................

1 9 2 ,2 1 4

1 8 5 9 _____

6 3 3 ,5 4 9

234

C a l i f o r n i a ..............................................

9 2 ,5 9 7

1 8 5 6 _____

5 0 7 ,0 6 7

75*

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

8

* The increase by the surplus of births is estimated at 13 per cent in ten years, according to cen­
suses in Germany, which show in Prussia, Saxony, Bavaria, and. Wurtembergan increase from 15
to 17* per cent in a decennium.
t The increase of immigration by the surplus of births is estimated twice as high as the regular
increase o f settled population, because the immigrants are, in the great average, men and women
in the prim* of age.
t The percentage given here is not the progressive percentage, but only the percentage o f the
population of 1850.




132

Statistics o j Population, etc.

P O P U L A T IO N O F S O M E O F T H E P R I N C I P A L

•

C IT IE S

According to

Cities.
Albany.....................
Baltimore................
Boston.....................
Brooklyn..................
Buffalo....................
Charleston................
Chicago....................
Cincinnati.................
Louisville........... ....
Milwaukee...............
Newark....................
New Haven............
New Orleans..........
New Y’ ork ..............
Philadelphia............
Pittsburg................
Providence...............
St. Louis.................
Washington............
Williamsburg . . . . . .
THE

AND

PERCEN TAGE

O F T H E IR G E R M A N P O P -

U L A T IO N .

F O L L O W IN G

Total Tercel
pop. ofGerD
50,763
18
169,054
31
136,881
20
96,808
21
42,262
30
42,980
9
29,963
47
115,436
31
48,190
32
20,515
51
38,894
21
20,345
17
116,375
10
615,647
17
498,762
27
46,601
36
41,613
19
77,860
51
40,001
16
30,780
27

TABLE SH OW S THE

IN C R E .

isus of 1850.
tage German
ans. pop.
1 0 ,1 3 7

,-----------Estimate fo r I860.---------- ,

Total
Percentage German
pop. o f Germans, pop.
...............

22

5 2 ,3 9 0

................
3 3 .............

2 7 ,3 6 0

2 4 .............

2 0 ,8 2 8

1 5 6 ,2 0 0

26

1 2 ,6 6 0

4 0 ,6 1 2
3 6 .............

3 ,8 6 1

11

1 4 ,1 0 0

...........

5 2 .............

8 5 ,7 7 0

1 8 2 ,0 0 0

42

1 3 ,7 9 2

7 6 ,4 4 0
3 7 .............

1 0 ,2 0 0

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

56

8 ,1 4 8

................
25

3 .4 0 0

22

..........

1 1 ,6 3 7

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

12

8 7 ,5 5 0

7 7 4 ,8 7 3

21

1 6 2 ,5 4 0

1 1 0 ,1 6 0

6 5 0 ,0 0 0

31

2 0 1 ,5 0 0

8 ,5 6 9

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

20

3 9 ,3 2 9

1 7 2 ,4 0 0

53

9 1 ,3 7 2

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

17

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

32

1 6 ,0 6 4

1 6 ,7 7 6

4 2 .............

6 .4 0 0
8 ,1 0 0

K OF

THE

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

5 0 ,2 8 0

P O P U L A T IO N

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

O F T H E C IT Y OF N E W

YORK.

1790........................................................
1800........................................................
1810...........................
1820..............................................................
1830..............................................................
1840..............................................................
1850..............................................................
1855............................................................

Inhabitants,

Increase
per annum.

33,181
___
60,489
8 29 I
96,373
5.93 |
123,706
2.88 !
197,112
6.93 '
312,710
5.86
515,547 6.49
629,904 4.43

Average of
annual increase 5.69
per cent.

In our estimate we calculated the increase only to 5 per cent per annum—
0.69 per cent less than the average of 60 years.
The number of the population of Philadelphia was increased in an extraordi­
nary manner by the consolidation of the city and county into one great city,
June, 1854. By the same act the percentage of German population was con­
siderably augmented by the incorporation of Germantown, Frankfort, and other
boroughs.
ROXBURY AND ITS POPULATION.

The following table shows the decennial increase of population in Roxbury
since 1830 :—

1830.

1840.

1850.

1800.

5,247

9,089

18,316

36,000

This includes the population of West Roxbury. The table shows a popula­
tion doubling every ten years, and increasing 30,000 in thirty years, against an
i ncrease of only 3,021 in the preceding forty years.




Statistics o f Population , etc.

183

POPULATION AND AREA OF THE STATES OF MEXICO.

The anti-commercial turbulance of our neighbors continues in a manner that
must bring regret to the minds of all reasonable people, and prevent much ex­
tension of the natural resources. The following are the States of Mexico, with
the population of each, and the area in English square miles :—
Area.

Chiapas..............
Chihuahua.......... . . .
Uoahuila..............
Durango..............
Guanajuato........
Guerrero..............
Jalisco.................
Mexico...............
Michoacan ..........
Nueva Leon........
Oajaca................. . . .
Puebla...............

Populat’n.

100,250
56,570
48,489
12,618
19,535
31,822

144,070
146,600
75,340
162,218
713,583
270,000
774,461
973,697
491,679
138,361
525,101
580,000
184,161

San Louis Potosi.. . .
Sonora ....................
Sinaloa..................... .
Tabasco..................
Tatnaulipas............
Vera Cruz..............
Yucatan...................
Zacatecas................
Federal District . . .
Tlaxacala................
Lower California...

'Total . . . .

Area. Populat’n.
29,486 368,120
123,4 66 139,374
35,721 160,000
15,61.9
63,580
30,334 100,064
26,595 264,625
52,847 680.948
30,507 356,024
89 200,000
1,948
80,071
61,243
3,019
12,000
60,662
834,146 7,666,520

DURATION OF LIFE.

A cotemporary states that the average length of life in this country is dimin­
ishing at an alarming rate, it having sunk in the three principal cities as fol­
lows :—
New York.

1810.....................................
1844.....................................
1860......................

Philadelphia.

26
20
IS

26
22
20

Boston.

2S
211
20

POPULATION OF JAVA AND MADURA.

According to the official statistics received from the East, the population of
Java and Madura amounts to 20,331 Europeans, 138,356 Chinese, 24,615 Ara­
bians and other foreign Orientals, 11,405,596 free natives, and 5,260 native
serfs, making together a total of 11,594,158. The increase of the year was
303,708, being something under 3 per cent. The number of native chieftains or
princes is 106,105, and that of the native priests is stated to be 56,993. The
population of the other Dutch possessions in the Eastern Archipelago is
5,477,540, making a grand total of more than 17,000,000 under Dutch laws and
under the Dutch flag.

ENLARGEMENT OF PARIS.

On the morning of January 1st, 1860, the whole circumference of Paris
stepped out a mile, and drew within its embrace three hundred thousand new in­
habitants. Paris now contains a population of a million and a half. When
completed, the new city will be thirty miles in circumference, with ninety-two
gates. The old control wall is to be converted into a boulevard, and planted
with trees, and will constitute the largest street in the world.




134

Mercantile Miscellanies.

MERCANTILE MISCELLANIES.
A VOYAGE DOWN THE A3I00R,
RUSSIAN

MERCANTILE

HOSPITALITY.

Though the wine continued to flow, says a recent traveler, I really hoped that
the dinner was over. I could not now see much room for its continuance, and I
was sure there could not be much more room within the company. Finally, the
Golovah rose, and the dinner ended, and with it, as I supposed, the drinking
also ; but I was mistaken. We adjourned to the coffee-room, where tea and cof­
fee were both served ; the tea really delicious, the purest herb of China. I
drank very freely of it, for I hoped it would counteract the effects of the wine.
As soon as politeness would seem to justify, we rose to depart. In the mean­
time, the dining-room had been cleared of every vestige of the dinner, tables and
all, and was now occupied by groups in animated conversation.
As soon as we entered the apartment, servants, bearing trays loaded with
glasses, foaming with champagne, approached, and the Golovah pressed us to take
the parting glass. This it was idle to refuse, so we drank, as we supposed, for
the last time. Presently I noticed a pretty dense circle encompassing P e y t o n ,
and in an instant he was seized by half a dozen stout, jolly merchants, and
tossed up in the direction of the ceiling. Fortunately it was not a very low
one, or else he must have gone through the roof. Down he came, however, into
the hands of his tormentors, who sent him up again, if anything higher than
ever, the most uproarious mirth and laughter prevailing. My companion w'as
not a small man, or a light one, but he was no more than a feather in the hands
of these portly Siberians.
This sport is called in Eussian podkeedovate, or tossing up, and is considered a
mark of great respect. Gen. M o u r a v i e f f told me, after our return, that he
had podkeedovate performed upon him in the same room.
During the performance I stood half-aghast, looking at the figure P e y t o n was
cutting, a man six feet high and well-proportioned, going up aDd down like a
trap-ball, his coat tail flying sky-high and his face as red as a brick. I was all
the time consoling myself that they had administered this extra touch of hospi­
tality to P e y t o n because they considered him the most worthy and the best able
to stand it, and I said to B e e t s o w , “ I hope one tossing for the American na­
tion will be considered honor enough.” He replied, “ Your turn will very likely
come, too.”
After a while P e y t o n came down and staid down. Servants again came
around, and we had to drink champagne. I had just emptied my glass and placed
it on the waiter, when, without a moment’s warning, I was seized ana up I went.
Being- much lighter than P e y t o n , and handled after him by these stout, and now
very jovial and merry fellows, I have a distinct recollection of touching the ceil­
ing. My coat-tail certainly did, and what I thought at first a piece of good for­
tune, now proved to be otherwise, for, having taken P e y t o n ’s gauge with regard
to weight, they did not take into consideration my lightness, and I came near
going through the top of the house. Up I went and down I came, only to go
up again, until my friends were satisfied that if I was not drunk before, my head




Mercantile Miscellanies.

135

would certainly swim now. However, I was able to stand when I came to my
feet, which was more than I calculated upon when tossing between the floor and
ceiling.
Of course, we had to all take another drink. By this time P eyton and I
were working our way towards the door, in order to evacuate this citadel of
hospitality, and finally succeeded in reaching our sleigh, which was standing
near the entrance of the house ; we had, however, to partake of the stirrup cup
after we were seated, and thus ended one of the most extraordinary, and, barring
the overflow of wine, one of the most agreeable dinners I ever partook of.
EXCITEMENT THE STIMULUS OF BUSINESS.

It has been very truthfully said that one-half of mankind do not know how
the other half live—they have no clear conception of the toil, the struggle, the
sacrifices, and the continual pressure of anxiety which is necessary to draw the
fleeting breath of human life for a few years. Nor is it best they should know
the “ heart ache and the thousand ills ” produced by those very refinements
which minister to their happiness and pride of life ; the revelation could do no
good aside from a transient sympathy and commiseration. No permanent
or general solace of care can ever be found—and the sternness of fortune must
be met in a philosophical spirit. The conditions of life are fixed not altogether
from choice, or forethought, or skill, but by an extraneous power, that “ shapes
our ends, rough hew them as we may.”
There is a numerous class of minds that live almost entirely upon excitements.
In a calm dispassionate flow of life and business they are stupid and powerless,
but stir up the placed sea until it surges with violence, and they are then ready
for a mission—armed and equipped for the toil of life. Such minds are the
martyrs of this age of enlightenment— the life they lead is a consuming one,
and vitality is spent with a prodigality more than heroic. The requirements of
business are making this method of living more imperative, and without it suc­
cess is beyond a reach. Half a century since the rivalries now experienced in
all departments of human industry were then unknown. A new order of mind
and new energies are called into requisition. The business man of the last gen­
eration would hardly be recognized by the prevailing caste. Flesh and blood are
capable of enduring many hardships, but the delicate nervous organization, its
accompaniment, breaks down at length under the incessant tension. Disregard­
ing the friendly premonitions of temporary illness, the exhausted mind holds on
its work by the necessary and agreeable stimulus of fresh excitements, until a
sudden reaction crushes its vigor, and then comes on the weakness, satiety, and
sorrow of hopeless infirmity.
It is not without a shade of melancholy that we notice in almost every daily
journal the record of a faltering in the ranks of business men. This successful
merchant has impaired his health by overwork, which means too much nervous
excitement, and he starts for Europe in the hope of building up his health on a
broken foundation. Another professional man is aroused from his dream of am­
bition with the frightful conviction that phthysis has fastened its deadly grasp
upon his vitals, and the grim images of weakness and decay henceforward fill
his vision. There has been an alarming increase of disease within a few years,
having its origin in the causes we have named, and the effect of it should be to




136

M ercantile Miscellanies.

produce greater moderation. What if the profits are less ? They can be con­
tinued longer and life made happier.
There is no necessity for this waste of life— it is a sheer delusion, the effect of
a foolish ambition. Better accept the heritage of poverty or a moderate success
than the infallible necessity of an early disease.
DISCONTENT.

How universal it is. W e never knew one who would say “ I am contented.”
Go where you will, among the rich ard the poor, the man of competence, or the
man who earns his bread by the daily sweat of his brow, and you hear the sound
of murmuring and the voice of complaint. The other day we stood by a cooper,
who was playing a merry tune with his adze around a cask. “ Ah ! ” said he,
“ mine is a hard lot—forever trotting round like a dog, driving away at a hoop.”
“ Heigho 1” sighed our neighbor, the blacksmith, in one of the hot days, as he
wiped the drops of perspiration from his brow, while his red hot iron glowed on
the anvil; “ this is life with a vengeance, melting and frying one’s self over the
fire.” “ Oh, that I were a carpenter !” ejaculated a shoemaker as he bent over
his lap stone; “ here I am, day after day, working my soul away in making
soles for others, cooped up in this little seven by nine room.” “ I am sick of this
out-door work,” exclaims the carpenter, “ broiling and sweating under the sun,
or exposed to the inclemency of the weather—if I was only a tailor.” “ This
is too bad,” perpetually cries the tailor, “ to be compelled to sit perched up here,
plying my needle— would that mine was a more active life.” “ Last day of
grace—the banks wont't discount— customers won’t pay—what shall I do 1”
grumbles the m erch a n t“ I had rather be a dray-horse— a dog—anything!”
“ Happy fellows 1” groans the lawyer, as he scratches his head over some per­
plexing case, or pours over some dry record, “ happy fellows! I had rather ham­
mer stone than cudgel my brain on this tedious, vexatious question.” And
through all the ramifications of society, all are complaining of their condition—
finding fault with their particular calling. “ If I were only this or that, or the
other, I should be content,” is the universal cry—“ anything but what I am.”
So wags the wmrld, so it has wagged, and so it will wag.
LEARN THE VALUE OF MONEY.

A silver dollar represents a day’s work of the laborer. If it is given to a boy,
he has no idea of what it has cost, or of what it is worth. He would be as
likely to give a dollar as a dime for a top or any other toy. But if the boy has
learned to earn his dimes and dollars by the sweat of his face, he knows the
difference. Hard wmrk is to him a measure of values that can never be rubbed
out of his mind. Let him learn by experience that a hundred dollars represents
a hundred weary days’ labor, and it seems a great sum of money. A thousand
dollars is a fortune, and ten thousand is almost inconceivable, for it is far more
than he ever expects to possess. When he has earned a dollar, he thinks twice
before he spends it. He wants to invest it so as to get the full value of a day’s
work for it. It is a great wrong to society and to a boy, to bring him up to
man’s estate without this knowledge. A fortune at twenty-one, without it, is
almost inevitably thrown away. With it and a little capital to start on, he wil 1
make his own fortune better than any one can make it for him.




M ercantile Miscellanies.

187

WEAR AND TEAR OF STEAMSHIPS.

It was stated by the Surveyor of the Navy in a report to the committee ap­
pointed by the treasury to inquire into the navy estimates, that at the end of
fifteen years on an average the hull of each ship in the navy requires a complete
and extensive repair. And, further, that the duration of a ship of war cannot
be estimated at more than thirty years. The surveyor took for his guidance the
average of the ten years from 1849 to 1859, when thirty-five ships of the line
and forty-six frigates were removed from the effective list of the navy. We
much fear that our “ converted ” ships, Dor indeed any of our finest specimens of
naval architecture, will stand the wear and tear for the periods assigned to them
by the naval surveyor ; and it is supposed, when he made the above statements,
he alluded to the duration of sailing ships only; for we have had a few warnings
lately as to the fate of our Victorias, Duncans, Howes, and Diadems, by the in­
troduction of steam into ships of war. We have found instead of requiring a
complete repair once in fifteen years, that as many months are sometimes suffi­
cient to send a ship into dock. Shipwrights know the plank where to “ prick ”
for rotten wood in a steamship. With unerring precision they try her just in
the “ wake of the boilers,” where alternations of heat and cold are the greatest,
and which are sufficient to destroy the seasoned timber. It is in these places
that steamships require repairs oftenest. There is, however, another destructive
power that disables a steamship of war in a very marked manner, and that is the
“ shake of the screw.”
Long-continued screw propulsion at full speed soon tells a tale. We have had
indications in the Princess Royal, 91, now under repair at Portsmouth, of the
destructive effects of the vibratory motion of the screw. She has been almost
rebuilt abaft, after having passed through one commission only. It is said also
in confirmation of this, that the whole of the channel fleet is leaky, and that the
Royal Albert, the flag-ship, will require a thorough caulking. When we re­
member how recently this ship was built and commissioned, these reports are by
no means satisfactory. Judging, therefore, from the experience to be derived
from the few years the screw has been in the navy, we must expect to find defects
in the '• deal wood ” of all our ships, which is subject to the cross-strain it re­
ceives in passing through a body of water in a state of perturbation. Of course
other naval powers will have the same destructive elements to contend with as
ourselves. Indeed we are happy to know that the vibration in some French lineof-battle greatly exceed that of our best ships. The emperor, however, aims at
speed ; he knows its importance as well as we do. But to obtain this very de­
sirable quality in screw ships of war he must be prepared to do as we do, and
that is, to anticipate a very serious increase in his navy estimates, under the head
of “ repairs.”
LABOR, THE CONDITION OF SUCCESS,

In the days of the alchemists, says the Boot and Shoe Reporter, the world
believed that the baser metals could be transmuted into gold ; and many a man
spent his life in vainly searching for the philosopher’s stone. But this doctrine
is numbered with the chimeras of the past, and an intelligent man would now
resent the imputation of such a belief. Still, among our dealers, our manu­
facturers, and our workmen, there are those who belong to the race of the alche-




138

Mercantile Miscellanies.

mi.-ts. “ The royal road to wealth ” is the desire of numbers. In their view,
the days of their fathers were the golden age, the era of easy work and large
profits. Such men are always complaining of hard times, while their presence
is sufficient to make hard times for any trade.
There is not—there never has been—a time when light exertions, and limited
experience and skill could, except by mere accident, command a fortune. Labor
omnia vincil, “ Labor conquers all things,” has ever been a true maxim. Its
converse is equally true ; nothing but labor conquers all things. There lias always
been a competition, always a race to run. The timid and faint-hearted have
never won the palm. It requires more than the magic of alchemy to show that
all can possess “ what each desires to gain.”
But labor must be attended with common sense. A man may throw earth
into a quicksand, and expect to rear a solid foundation. The tower of Babel
was a work of labor, but it ended in a confusion of tongues. Both in the shoe
and leather manufacture many believe in the labor maxim, and exemplify their
belief by crowding into an overstocked market vast quantities of poor goods.
Labor, to be successful, must be intelligent, well-directed labor.
But it may be asked what shall be done in times of depression? The answer
is ready. Put more labor into the same quantity of material. We might be
tempted to go further, and remind the questioner that it is a disregard of the true
labor principle that has produced the times of depression. It is the desire of
rushing into the market the greatest quantity of production with the least amount
of labor, that causes all the difficulty. The makers of good shoes and the
makers of good leather seldom or never have occasion to be idle. They are the
men who seldom or never fail.
There are those who believe that by remaining idle, say one-fourth part of the
time, they can make their labor, during the remaining three-fourths, worth more
than it otherwise would be for the whole time. The shoe journeymen have acted
on this principle, and devoted several weeks to making speeches on the value of
labor. The theory is absurd. The wise monarch never uttered a truer senti­
ment than when he said—“ In all labor there is profit, but the talk of the lips
tendeth only to penury.” The same remark is applicable to shoe manufacturers
and tanners. Mere complaints can do no good. Attempts to seek the cause of
difficulty outside of themselves, and to cast blame on others, will accomplish
nothing. It is well for them to thro$ as much light as possible on the working
of the trade, and to receive from others similar assistance ; but all this should
have a direct tendency to make their labor more intelligent and better directed.
If a manufacturer is forced to suspend a part of his exertions for a time, he cer­
tainly can use those means which will increase his skill, and consequently make
his time more valuable when he is able to resume. A good workman seldom fails
to find employers, aud at the highest wages. A good manufacturer seldom fails
to find purchasers, and at the highest prices.
There are times in the history of every trade when the question may arise for
intelligent labor to consider whether, to be successful, it may not be necessary
to extend the market, or for a portion to seek employment in a different field.
This question has already confronted the journeymen, and whether the manu­
facturers of shoes and leather have yet to meet it, may receive our further atten­
tion.




Mercantile Miscellanies.
EARLY

139

HOURS.

Much of the best preaching in the world, and a good deal of the worst prac­
tice, has reference to habits of early rising. All the moralists agree in urging
the advantages of being up betimes. A . B r o n s o n A l c o t t , the finest transcen­
dental philosopher of the times, grows eloquent upon the spiritual benefits derived
from “ breakfasting upon the morning dew.” Franklin, chief of those philoso­
phers who are “ of the earth, earthy,” gives currency to the maxim, that—“ Early to bed and early to rise
Makes a man healthy, wealthy, and wise.”

Most of those who recommend early rising forget to urge early retiring as of
equal importance. But it happens to be true that the former without the latter
is injurious rather than beneficial. There is no wisdom nor merit in cutting short
one’s nightly allowance of sleep for the mere purpose of being up at a certain
hour in the morning. This is folly. Indeed, the moralists who deal with this
subject, would do better to drop the advice about early rising, and lay all the
force of their injunctions upon the importance of retiring early. For those who
are early to bed ” are pretty sure, as a matter of course, to be “ early to rise.”
Late hours in the morning is generally confined to those classes whose business
or pleasure keeps them up “ late o’ night.” Hence literary people, who affect to
regard the night as the noonday of the mind, are apt to keep late hours and de­
fend the same. C h a r l e s L a m b considered the saying that “ we should lie down
with the Iamb ” to be as truly a popular fallacy as that “ we should rise with the
lark.” T om H o o d , the inveterate punster, satirized early rising in ten verses of
of “ Morning Meditations,” in his best style :—•
“ Let Taylor preach upon a morning breezy,
How well to rise while night and larks are flying,
For my part, getting up seems not so easy,
By half as lying.
So here I’ll lie, my morning call deferring,
Till something nearer to the stroke of noon ;
A man that’s fond precociously of stirring
Must be a spoon.
RULES FOR THE ECOtYOMICAL.

As a genera! rule it is most economical to buy the best articles. The price
is, of course, a little higher; but good articles spend best. It is a sacrifice of
money to buy poor cheese, lard, etc., to say nothing of the injurious effect upon
health.
Of the West India sugar and molasses the Santa Cruz and Porto Rico are
considered the best. The Havana is seldom clean. White sugar from Brazil is
sometimes very good.
Refined sugar usually contains most of the saccharine substance ; there is
probably more economy iu using' loaf, crushed, and granulated sugars, than we
should first suppose.
Butter that is made in September and October is the best for winter use.
Lard should be hard and white; and that which is taken from a hog not over a
year old is best.




140

Mercantile Miscellanies.

Rich cheese feels softer under the pressure of the finger. That which is very
strong is neither very good nor healthy. To keep one that is cut, tie it up in a
bag that will not admit flies, and hang it in a cool, dry place. If mould appears
on it wipe it off with a dry cloth.
Flour and meal of all kinds should be kept in a cool, dry place.
The best rice is large, and has a clear, fresh look. Old rice sometimes has lit­
tle black insects inside the kernels.
The small white sago, called the pearl sago, is the best. The large brown
kind has an earthy taste. This article, and tapioca, ground rice, etc., should be
kept covered.
To select nutmegs, pick them with a pin. If they are good, the oil will in­
stantly spread around the puncture.
Keep coffee by itself, as the odor affects other articles. Keep tea in a close
chest or canister.
Oranges and lemons keep best wrapped close in soft paper, and laid in a
drawer of linen.
The cracked cocoa is best; but that which is put up in pound papers is often
very good.
Soft soap should be kept in a dry place in the cellar, and not be used until
three months old.
To thaw frozen potatoes, put them in hot water. To thaw frozen apples, put
them in cold water. Neither will keep after being frozen.
EMPLOYMENTS FOR LADIES,

Nothing marks the civilization of any city or country so much as the employ­
ments of females. In large sections of Europe the eye of the traveler will, as he
scans the fields in the spring, see women harnessed to the plow, and drawing in
connection with the beasts of burden. As civilization advances among the
masses, all this of necessity is cut short, because there are so many more duties
in which she can work with so much greater efficiency and profit, so that no
family can afford for women to be thus employed. The old-fashioned ideas of
nobility have acted upon society in no way so injuriously as this, namely: To
render the serious employment of woman in works of utility unfashionable.
This idea has filled the Turkish harems with expensive dolls dressed in Oriental
magnificence, and yet pining in idle misery. In this country there is a wider
range of employment for woman than any other, unless it be France. Certain
it is, that here the amount of money paid for work performed by females is far
greater. There is, however, still a constant increase in the variety of female em­
ployments, and new ways are being constantly struck out by which they can
utilize their powers. It is no louger needle-work aloue that occupies them, or
the sale of certain articles, such as millinery, etc. Book-keeping is performed
by them with the most perfect accuracy and success. The setting of types and
reading of proofs seem exactly to suit her quick eyes and nimble fingers. Large
and important branches of medical attendance are rapidly falling into her hands,
and for teaching she has always been more fitted than man; from our a, b, c to
algebra and mathematics on the one hand, or music and painting on the other,
the largest and best share of the teaching of her own sex and of the childhood
of the other, seem naturally to devolve upon her.




Mercantile Miscellanies.

141

The age is constantly producing changes in this respect. The improvements
of the machines and inventions for saving all kinds of domestic labor, renders
her work lighter in some directions— those requiring less skill and more force.
This makes necessary new employments of a higher character every year. Sew­
ing machines must, by degrees, render the needle less and less productive, but the
increased remuneration given to those who learn well to manage the new ma­
chines more than compensates for this, to the enterprising and industrious. Still
new employments are needed, and methods of safeguard from insult and fraud in
the old walks of female industry.
COMMERCE AND THE PEERAGE,

The great bulk of the English peerage is comparatively modern, so far as the
titles go ; but it is not the less noble that it has been recruited to so large an
extent from the ranks of honorable industry. In olden times, the wealth and
commerce of London, conducted, as it was, by energetic and enterprising men,
was a prolific source of peerages. Thus, the earldom of Cornwallis was founded
by T h o m a s C o r n w a l l i s , the Cheapside merchant; that of Essex by W i l l i a m
C a p e l , the draper; and that of Craven by W i l l i a m C r a v e n , the merchant
tailor. The modern Earl of AVarwick is not descended from “ the kingmaker,”
but from W i l l i a m G r e v i l l e , the woolstapler; while the modern dukes of
Northumberland find their head, not in the P e r c i e s , but in H u g h S m it h s o n , a
respectable London apothecary.
The founders of the families of D a r t m o u t h , R a d n o r , D u o ie , and P o m f r e t ,
were respectively a skinner, a silk manufacturer, a merchant tailor, and a Calais
merchant; while the founders of the peerages of T a n k e r v i l l e , D o r m e r , and
C o v e n t r y , were mercers. The ancesters of Earl R o m n e y and lords D u d l e y
and W a r d , were goldsmiths and jewelers, and Lord D a c r e s was a banker in the
reign of C h a r l e s I., as Lord O v e r s t o .n e is in that of Queen V i c t o r i a . E d ­
w a r d O s b o r n e , the founder of the Dukedom of Leeds, was apprentice to W i l ­
l ia m H e w e t t , a rich clothworker on London Bridge, whose only daughter he
courageously rescued from drowning, by leaping into the Thames after her, and
eventually married. Among other peerages founded by trade, are those of F i t z w i l l i a m , L e i g h . P e t r e , C o w p e r , D a r n l e y , H i l l , and C a r r in g t o n .
LIVING WITHIN MEANS.

There is now a dreadful ambition abroad lor being “ genteel.” We keep up
appearances too often at the expense of' honesty; and though we may not be
rich, yet we must seem to be respectable,” though only in the meanest sense—
in mere vulgar outside show. We have not the courage to go patiently onward
in the condition of life in which it has pleased God to call us, but we must needs
live in some fashionable state to which we ridiculously please to call ourselves,
and all to gratify the vanity of that unsubstantial world of which we form a
part. There is a constant pressure and struggle for front seats in the social am­
phitheater, in the midst of which all noble and self-sacrificing resolve is trodden
down, and many fine natures are involuntarily crushed to death. What waste,
what misery, what bankruptcy, come from all this ambition to dazzle others
with the glare of apparent worldly success, we need not describe. The mischiev­
ous results show themselves in a thousand ways— in the rank fraud committed
by men who dare to be dishonest, but do not dare to be seen poor; and in the
desperate dashes at fortune, in which the pity is not so much for those who fail
as for the hundreds of inuocent families who are so often involved in their ruin.




142

Mercantile Miscellanies.
CUSTOMS ON THE GOLD COAST.

It may be interesting to some of our readers to know that the following curi­
ous custom exists on the Gold Coast. When there is war going on, and the
people have gone forth to fight, all the full grown women go about the streets
shouting, singing, dancing, and praDcing about. On the 25th November, while
the Bentil and Intin companies were fighting on the plains near the Salt Pond,
vast numbers of the native females of Cape Coast paraded the respective quar­
ters after the fashion we have described. The women of the Intin quarter mus­
tered not less than 900, all between the ages of about eighteen and fifty five,
very old and very young women not joining in the ceremonies. All these ladies
were dressed in clothes of a white ground, and had likewise rubbed their bodies
with some white preparation. The theory is, that while war is going on, no
man stays in the town 1 and, acting on this theory, the ladies very often, by way
of showing their contempt for the men that stay behind, take liberties and per­
form feats which at any other time would be considered indecent, but which in
these moments are looked upon as a matter of course. The Bentil ladies also
paraded their quarter of the town during the time the fighting was going on,
but they were far fewer in numbers than the Intins. It seems that on the day
of the combat, Mr. S a m u e l C o l l in s B r e w , of Anamaboe, was near being shot.
This gentleman was in the midst of the lines, endeavoring to reason with the
people, when the firing commenced, and several shots came unpleasantly close to
him. Luckily, however, he escaped without being hurt. Mr. I s a a c R o b e r t s o n ,
a native merchant, of Cape Coast, also had a narrow escape while assisting the
mayor in his efforts on the field.
MODERN SHIPBUILDING.

A t the recent launch of a packet ship of 1,150 tons, at East Boston, named
Edward Everett, Mr. E., at a lunch they gave, among other remarks, thus com­
pared our modern ships to those built forty or fifty years ago :—
Young men, sir, hardly know the progress which has been made in shipbuild­
ing, in this generation, in this part of the country, and, indeed, in every part
where ships are built. The first voyage I made to Europe, was in 1815, in what
was then considered a first class merchant ship, a Liverpool trader, belonging to
one of the most enterprising Boston merchants. She was a ship of three hun­
dred and fifty tons, and there were not many larger vessels at that time in our
commercial marine. I will warrant she was advertised as a first rate burthensome vessel. A ship of six or seven hundred tons would have been thought a
wonder, and talked of very much as the Great Eastern is at the present day. In
fact, twelve hundred tons were thought a pretty good allowance for a ship of the
line. Lord N e l s o n ’ s famous Victory did not, I believe, exceed that size.
Such was the standard of shipbuilding in my younger days. Three years ago I
went up Lake Erie from Buffalo to Detroit, in a vessel of twenty-two hundred
and fifty tons, and I was told she was the smallest of three of which the line
consisted. I believe, however, that magnitude is the least important particular
in which our shipbuilding has improved. I presume that in skillful and tasteful
modeling, choice of superior material of wood, metal and canvas, in thorough­
ness of workmanship, and consequent speed, capacity, strength, and beauty, the
the improvement has been still more signal. Two of the three vessels in which
C o l u m b u s made his first voyage were so small as to be without decks, not bigger,
I suppose, than a good sized whale boat. What would not have been the emo­
tions of the Great Discoverer, could he have foreseen that in less than four
centuries, vessels like that which you have seen launched to-day would be built
in a remote corner of that new-found world.




The Book Trade.

143

THE BOOK TRADE.
1. — Text-book in Intellectual Philosophy, for Schools and Colleges; containing
an outline of the Science, with an abstract of its History. By J. T. C iia m i >l i n , D. D., President of VVaterville College.
12mo., pp. 240. Boston :
Crosby, Nichols, Lee & Co.
This treatise is called a text-book, says the author, because it has been pur­
posely thrown into the form adapted to the class-room, rather than that adapted
to general reading; and to intimate, at the same time, that it is offered to the
public, not so much as a new contribution to the matter of science, as to its
form. However, it will probably be found about as original as the other trea­
tises on the subject which have appeared since the principles of the science have
been so fully developed. What is here presented is confessedly but an outline,
and, as a text-book, it should be only such. Whether we consider the rvants of
the pupil or those of the teacher, a text-book should be brief; it should contain
only the fundamental facts and principles of the science to which it is devoted.
The field of science is so extended that only the most commanding and essential
features can be surveyed in a general course of education. Where there is so
much that is important, the mind of the pupil should not be encumbered with
what is unessential. Something should be left to be supplied by the teacher,
and something to be learned by after study. An outline is all that ought to be
committed to memory by the pupil, and all that is required by the teacher, as a
nucleus around which to gather supplementary and illustrative matter. For
this purpose the present treatise, we think, will be found adequate in all respects,
and well worthy a place on the student’s desk.
2. — Home and College. A Public Address delivered in the Hall of the Massa­
chusetts House of Bepresentatives. By F. D. H u n t in g t o n . Boston : Cros­
by, Nichols, Lee & Co.
This little volume is made up entirely of an exceedingly scholarly and manly
essay dedicated to students, but its morals and maxims are equally applicable to
the heads of families. We believe it to be an established fact that by far the
larger portion of those who have risen to eminence and excellence were not those
born to proud patrimonies. On the contrary, their earlier years were generally
strewn with difficulties, single-handed struggles and discouragements, which but
tend to strengthen the really moral and intellectual character. In speaking of
those, or rather prophecying of those, to whom a collegiate course of life is apt
to end honorably, happy, and successsful, Mr. H u n t in g t o n reads many sage and
useful lessons, by reading which ali may profit.
3. — Mary Stuart Queen of Scots. An Historical Romance of the Sixteenth
Century. By G e o r g e W. M. R e y n o l d s . Philadelphia : T. B. Peterson &
Brothers.
There is probably no subject which attaches so much of romance as does the
fate of M a r y S t u a r t . We have notread the book in question, but in the hands
of an author of Mr. R e y n o l d s ’ repute, a subject so prolific of interest as M a r y
S t u a r t Queen of Scots cannot be otherwise than interesting.




144

The Booh Trade.

4. —Abridgment of the Dehates of Congress from 1789 to 1856. From Gales
and Seaton’s Annals of Congress ; from their Register of Debates ; and from
the original reported Debates by John C. Rives. By the author of the
“ Thirty Years’ Yiew.” Yol. xiv. Royal 8vo., pp. 747. New Y ork : D.
Appleton & Co.
The present volume brings this valuable epitome of our National Legislature
down to the close of the 27th Congress, March, 1843, and a few volumes more
will see completed the most perfect text-book of the doings of our national as­
sembly, ever put forth by the American press.
5. — Dickens’ Short Stories. Containing thirty-one stories never before published
in this country. By C h a k i .e s D i c k e n s . 12mo., pp. 298. Philadelphia : T.
B. Peterson & Brothers.
Peterson’s, we believe, are the only complete and uniform editions of Charles
Dickens’ works, ever published in this country. No expense has been spared
by this enterprising firm in the getting up of the various American editions of
this great story teller, consequently, we have both illustrated, and what is known
as the people’s cheap edition, neatly bound in cloth, and each volume complete
within itself. The present comprises thirty-one short stories never before pub­
lished in this country, and will be found an excellent companion for a steamboat
or rail-car just at this season, to be placed in one’s carpet-bag.

6.

—Friarswood Post-office. By the author of the “ Heir of Redclyffe.”
pp. 251. New York : D Appleton & Co.

16mo.,

This is another pleasant story of English life, describing Christian fortitude
and virtue, in the endurance of life’s trials by a poor lamily, who, though suffer­
ing from afflictions, persevered with industry and determination, till a happy
termination of their troubles and difficulties was attained. It is also well writ­
ten, and will be found interesting.

7.

— The Little Beauty. By Mrs. G r e y , author of the “ Gambler’s W ife,”
“ Old Dower House,” “ Duke and Cousin,” “ Lena Cameron,” etc., etc.
12mo., pp. 626. Philadelphia : T. B. Peterson & Brother.

T. B. P e t e r s o n & B r o t h e r s have just published, simultaneously with its ap­
pearance in London, another new and fascinating novel by Mrs. G r e y . “ The
Little Beauty ” will no doubt have numerous admirers, as the characters are all
well drawn and woven into a charming thread of story.

8.

— The Rebel and the Rover.
son & Brothers.

By

H

arry

H

azel.

Philadelphia : T. B. Peter­

A sea story and an immense yarn.

9.

— Church Choral Book; containing Tunes and Hymns for Congregational
Singing, and adapted to Choirs and Social Worship. By B. F. B a k e r and
J. W . T u f t s . 8vo., pp. 203. Boston : Crosby, Nichols, Lee & Co.