Full text of The Merchants' Magazine and Commercial Review : June 1848, Vol. XVIII, No. VI

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tiie

MERCHANTS’ MAGAZINE,
Established July* 1839,

BY FREEH IN HUNT, EDITOR AND PROPRIETOR.
V O L U M E X VIIT

JU N E ,

CONTENTS

OF

1848.

N U M B E R V I.

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

ARTICLES.
art.

pagb

L IR E LA N D . By D a v i d M. B a l f o u r , o f Massachusetts..................................................................... 579
II. A R A IL R O A D FROM T H E A T L A N T IC TO T H E P A C IF IC : W h e r e s h a l l t h e R a i l ­
r o a d B E G IN ON T H E A T L A N T I C , A N D W H E R E S H A L L I T E N D ON T H E P A C IF IC 1 By Lieut. M.
F. M a u r y , o f the National Observatory7, W ashington..................................................................... 592
III. •' iM M E RC IA L C ITIE S OF EU ROPE.—N o. 5.— PARIS. Location—Distances from other
European Cities—Commercial History— Annual consumption o f W ine, Provisions, Fruit, etc.
— Articles o f Export and Import—Popularity o f Parisian Articles—Articles Exported in 1837
and 1848— Commerce o f Paris with other Countries—Banking operations o f Paris— Bank o f
France— Other Departments o f Commerce— Brokers, Commission-merchants—Auctioneers—
Pressure o f 1S36-8—W ine depot Delivery—Insurance Regulations—T he Fine Arts— Lectures
—Commercial Schools—Commercial Halls—Markets— The Marne, Seine, etc.— Post-office—
Population o f Paris—Occupations o f the Inhabitants—Police— Revenue, etc.............................. 601
IV. ST A T IS T IC S AN D H IS TO R Y OF TH E BRITISH C O TT O N T R A D E : A n d o f t h e
M a n u f a c t u r e o f C o t t o n G o o d s .— C h a p t e r 2.
Calicoes Exported from Great Britain to
different Countries from 1831 to 1846— Chronology o f Printing and Dying Cotton Goods........ 610
V . CO M M ERCIAL CODE OF SPAIN .—N o. 4 . O f t h e R i s k s a n d D a n g e r s o f M a r i t i m e
C o m m e r c e c o n c e r n in g A v e r a g e s .
By A . N a s h , Esq., o f the New York Bar...........................
V I. H A S K E L L ’ S M E R C A N T IL E L IB R A R Y A D D RESS.-U sefulness o f Mercantile Library
Associations— Origin, and Prospects o f their Members— Reciprocal Duties o f Clerks and Em­
ployers—Influence o f the Commercial Class in the W a r o f the Revolution................................
V II. L A B O R A N D O TH ER C A P IT A L : T h e R i g h t s o f E a c h S e c u r e d , a n d t h e W r o n g s
o f Bo t h E r a d ic a t e d .
By E d w a r d K e l l o g g , Merchant, o f New Y ork..............................
V III. SAN D FO RD ’S C H A N C E R Y CA SE S........................... .......................................................................

MERCANTILE

LAW

614

618
625
628

CASES.

Leading Cases in Mercantile L a w ...................................................... * .............................................
Advances upon Bills o f Lading........................................................................................................ .

629
631

C O M M E R C I A L C H R O N I C L E AND R E V I E W ,
EMBRACING A FINANCIAL AND COMMERCIAL REVIEW OF THE UNITED STATES, E T C ., ILLUSTRATED
W IT H T A B L E S, ETC., AS FOLLOWS I

Effect o f European upon American Interests—Movement o f Specie, Port o f N ew York, from Novem­
ber, 1847, to May, 1848—Commercial Policy o f the French Provisional Government— French Revo­
lution o f 1790—Issue o f Assignats from 1790 to 1796—Prices o f French Government Stocks from
1797 to 1848—The Effects o f the Chartist Movement in England on Commercial Affairs—Condition
o f the Bank o f England—Price o f Consols— Exchequer Bills— Aspect o f Europe to hold in Check
the Commerce o f the United States—New Y ork State Debt— Specie in Banks o f England and
France— In Banks o f N ew York and New Orleans— Production o f Gold in Russia from 1819 to 1847
—-The Mines o f Mexico—The Rothschilds, etc............................................. ...................................... 633-640

V O L. X V I I I .— NO. V I .




37

578

contents

or

no. vi ., vol . xvih .
PAG 8

COMMERCIAL STATISTICS.
Export and Import trade o f Porto R ico in 1845 and 1846.............................................................................. 641
Exports o f Iron from Liverpool to New York, Boston, and Philadelphia in 1846 and 1847.................... 641
Investment o f Capital at different rates, and Realized at different periods......................................................642
Produce o f the W ines o f France in each Department.................................................................................... 643
Export o f French W ines to all Countries in 1845 and 1846............................................................................ 644
Trade o f the Cape o f Good Hope in 1847.......................................................................................................... 644
Trade o f Brazil in 1847.—Export o f British Silk goods................................................................................... 645
Nett proceeds o f American Produce in London, in Dollars and Cents, at the various Rates o f Exchange 646
Ship-building in New Bedford District in 1847.................................................................................................. 647

COMMERCIAL REGULATIONS.
British Regulations for Emigrant Ships............................................................................................................... 648
Laguna Port Regulations for Masters o f Vessels................................................................................................ 649
Timber Duties in Great Britain Reduced........................................... ................................................................ 649
s Duty on Glass in Great Britain.............................................................................................................................. 650
British Commerce and the Rights o f W a r .......................................................................................................... 650
Regulations for Ships by the Venetian Republic................................................................................................ 650
Entrepot at the Port o f St. Jago de Cuba............................................................................................................651

J O U R N A L OF B A N K I N G , C U R R E N C Y A N D F I N A N C E .
United States Treasurer’ s Circular Proposals for L oa n .................................................................................... 651
Financial Effects o f the French Revolution o f 1848......................................................................................... 652
Revenues o f France during the First Quarter o f 1848...................................................................................... 653
Circulation o f Banks in England, Scotland, and Ireland in 1848................................................................... 654
Public Income and Expenditure o f the United Kingdom................................................................................ 654
Circulation o f Canada Notes Prohibited in Michigan.......................................................................................655
Stamp Duties in England and Scotland...............................................................................................................655

JOURNAL

OF M I N I N G A N D M A N U F A C T U R E S .

Manufacture o f Iron in Alabama. By W . W . W . W oo d ............................................................................. 656
Calico Printing in China................................................................................................................ ........................ 657
N ew Process for making Cast Steel and Iron....................................................................................................
Iron Manufacture in Great Britain........................................................................................................................
Tons o f Pig Tron Manufactured in the United Kingdom at Different Periods from 1740 to 1845............
Sales o f Copper Ores in England..........................................................................................................................
Discovery o f a Mineral Paint or Cement............................................................................................................
Production o f Gold in Russia from 1837 to 1846...............................................................................................
Improvement in the Manufacture o f Carriage Springs................... .................................................................
Chain Manufacture in Birmingham, Connecticut..............................................................................................

658
659
659
6G0
660
661
661
661

RAI LROAD, CANAL, AND S T E A M B O A T S T A T I S T I C S .
Massachusetts Railroads in 1840 and 1847...........................................................................................................
Length o f Eleven Raiboads in Massachusetts, with their Branches: together with their Cost, Stations
and Machinery, Income, Expenses o f Working, and Rates c f Dividend paid in 1840 and 1847..........
Massachusetts Railroads recently opened wholly or in part............................................. ••••.......................
Passage and Freight Rates o f Steamboats on the L a k e s..................................................... ........................
Canal Tolls—Cincinnati and Wabash Trade.—Railroad Travelling for the Million.................................

662
662
663
664
664

NAUTICAL INTELLIGENCE.
Coral R eef discovered to the North-east o f the W allis Isles, by an American W haler............................ 665
Port o f Moule, Guadaloupe.................................................................................................................................... 665
Bank on the Fjordgrunde.— Light on Fort St. Julian....................................................................................... 666

MERCANTILE

MISCELLANIES.

Production o f Cotton in India.—T he English W indow Duty......................................................................... 666
Ocean Penny Postage.— “ Send the Letters, Uncle John.” ............................................................................. 667
Morris’ s Cotton Manual.— Old-fashioned Commercial Laws.......................................................................... 668
U sury: or the Laws Regulating Interest............................................................................................................ 669
Mercantile Liberality—Col. Maunsel W hite................. ■>.................................................................................. 670
Maxims and Morals for Merchants...................................................................................................................... 670

TIIE BCOK T R A D E .
Comprehensive Notices o f New Works, or New Editions.............................................................................. 671




HUN T ’S

t

MERCHANTS’ MAGAZINE.
JUNE,

1848.

Art. I . — I R E L A N D .
“ The troubles in Ireland,” and the oppression under which the people
o f that island suffer, form the topics o f conversation in every quarter o f the
globe. They are heard o f at St. Petersburgh and at Constantinople ;
are discussed in the log-cabins o f the Far W e s t; and are mooted in the
Parisian Clubs. America transmutes her weapons o f defence into mes­
sengers o f relief, and under the smiles o f the stars and stripes, pours upon
the shores o f Green Erin food for her famine-struck cottiers. Great Brit­
ain also remits taxes in her behalf, opens her coffers, and belabors the in­
genuity of her statesmen to furnish employment for her destitute inhabit­
ants ; and the pious Catholic, the world over, implores the Virgin for her
prompt and speedy relief. She has fairly driven from the field o f compas­
sion, all sympathy for the down-trodden Red-man, the persecuted Pole,
and the benighted Negro. Perhaps, before now, her sufferings may have
drawn tears from the sensitive eyes o f “ the brother o f the Sun,” and the
“ sagacious and enlightened Lin ” may have already suggested to his ce­
lestial master, the propriety o f despatching some score or more o f his in­
vincible war-junks, to effect the liberation of the degraded slaves o f the
same “ red and blue devils ” who have so cruelly annoyed him. Every
one has heard, and every one talks o f Irish grievances, but no one seems
to know exactly what those grievances are. Their existence-seems to be
so unquestionable, that to dispute it, is not only useless, but almost disrepu­
table ; and yet, if one venture to inquire o f those who most loudly declaim
against them, wherein they consist, they limit themselves to generalities,
and quote the admitted state o f the country as proof positive o f English in­
justice and Saxon misrule.
It is sad to think, that Ireland, for whom nature has done so much,
should, through the misconduct of man, be such as we behold her. Con­
taining within herself all the elements from which the statesman would
desire to form a great nation, she stands at the very bottom o f the scale
among European provinces. A prodigious population, a fertile soil, a vast
variety of produce, a mild climate, mineral treasures which defy exhaust-




580

Ireland.

ion, fisheries at once abundant and o f easy access, excellent harbors, and a
position upon the earth’s surface which ought to render her the great entrepdl between the new and old worlds— all these natural advantages are
hers, yet all avail her nothing. Instead o f giving support to a race o f in­
dustrious and contented inhabitants, she is peopled with paupers from sea
to sea ;— beggars infest her streets, occupy her highways, and line her
hedges ; pestilence and famine sweep over her periodically, and ruin and
decay are visible as well in her cities as villages. As to the fisheries and
fertile fields, they are alike neglected. The former render up their treas­
ures, if at all, to strangers ; the latter are overspread with weeds, or ex­
hausted for the lack o f the most common skill in their culture. Her har­
bors are deserted ; her towns, streets of hovels ; her hovels, sheds such as
an Ohio or Illinois farmer would regard as unfit to give shelter to his pigs.
And, finally, her social state— it is frightful to contemplate it even from
across the Atlantic ; yet it is precisely such as the outward forms o f things
might lead us to anticipate.
Again, the national character o f the Irish people presents as remarka­
ble a contradiction between what might be and what is, as is offered by
the natural advantages o f Ireland and the uses to which her inhabitants
turn them. Hasty, impetuous, and for the most part destitute alike o f pru­
dence and perseverance, the Irish are a warm-hearted and docile race ;
full of affectionate feeling, full o f intelligence and courage, and devoted, as
few other men are, to the object, whatever it may be, which happens to
engross their attention. Their loyalty is a principle, which yields, in its
strength, only to their religion ; though the former, under an evil influence,
becomes subjection to a demagogue, and the latter a dark and desperate su­
perstition. In some o f the most important points o f morals they are singu­
larly pure ; their gratitude is proverbial; their love o f family and country
amounts to a passion; their very faults are, for the most part, excess o f
virtues. An Irishman may be mistaken as to what it is which constitutes
justice, but it is from his pertinacious adhesion to his misconceptions, that
most of his crimes o f violence proceed. And as to other matters, where,
over the world’s surface, will you find a people so open o f heart, so free o f
hand, so liberal even to extravagance, so charitable, so sociable, that the
domestic duties are forgotten in the indulgence o f their humor. In the
depth of their compassion, they will screen the very malefactor from the
punishment which his crimes deserve. Their respect for their superiors
becomes abject from its excess ; their eagerness to hold a good place in
society generates ostentation, embarrassments, and recklessness. Yea,
and more even than this, an Irishman often violates truth because his good
feeling has hurried him into the utterance o f promises which he lacks
the power to fulfil ; and, if he think little o f evading the payment o f a just
debt, it is ten to one but that he has lent his whole worldly substance to a
friend. Surely he must be blind indeed, who fails to see in these peculi­
arities, the elements o f good, at least as rife as the elements o f e v il; and
if evil be the more ordinary result, surely the cause o f it must be sought
for rather in some gross mismanagement o f the social machine, after it
has been put together, than in any radical defect among the wheels and
springs out o f which it is compounded.
It is not worth while, were the task more easy o f accomplishment than
it is, to trace back the evil to its primitive source. The disease is o f long
standing. It manifested itself as far back as the annexation o f Ireland to




Ireland.

581

the English crown, and the malady has from that time increased in viru­
lence. There has been no close amalgamation in Ireland of the two races which together occupy its surface. Here and there a Milesian family
may have merged in a Saxon, or the Saxon stream may have lost itself in
the larger volume o f a Milesian river; but the people— the descend­
ants from the Celts on the one hand, and from the Sclavonian and Teuto­
nic invaders on the other— stand just as widely apart from one another at
this hour, as they did in the second and third generation, after Henry’s
barons had won their broad lands by the edge o f the sword. W e do not
mean to say that there has been constant warfare between the colonists
and the chiefs whom they or their fathers displaced. O f the humanity of
the former, in early times, no great boast can be made. They dealt with
the native Irish pretty much as John Bull deals with the Chinese or Asi­
atic Indians, at the present d ay; hunting them down and putting them to
death, without, apparently, the least compunction. And they were repaid
for their ferocity by a hatred as deep-seated as it was bitter. But time
and the force o f circumstances gradually smoothed down the asperities on
both sides ; which might, perhaps, have disappeared altogether, had not
religious differences intervened to renew them. It would be hard to de­
termine how far their jealousies o f the English families, which had taken
root among them, did or did not operate in prejudicing the aboriginal Mi­
lesians against the teachers o f the reformed faith ; but no fact can be bet­
ter demonstrated than this : that, whereas the tenets o f the Reformation
were eagerly embraced by a vast majority o f the former class, the latter,
almost to a man, rejected them. Accordingly a new ground o f quarrel
was established between races, which had already points o f difference
enough about which to wrangle ; and the terms Heretic and Papist were
added to the vocabulary o f hard names, with which it was the wont o f
either side to overwhelm the other.
H ow little is known o f the origin o f nations 1 What do we know o f that
wonderful people, the Chinese, who were able to observe and calculate
eclipses o f the sun in the year 2059, and were acquainted with the mariner’ s compass in the year 1115 before Christ ?— of the Japanese, or of the
Singulese, who have left behind them those stupendous works in Ceylon?
— but, above all, what is known o f the origin o f the people who designed,
constructed, or executed in Central America, those edifices adorned with
sculpture, &c., which astonish even the enthusiasts who, in their keen search
after antiquities, have visited other countries, known to have been of old
inhabited by enlightened nations ? So many fables and legends are con­
nected with the history o f the origin o f Ireland, that it is impossible to
speak with any degree o f certainty upon the subject. The most remarka­
ble o f which is, that a race called the Fomorians, an African tribe, inva­
ded the island and drove out the followers o f Fuidh, who had possessed
the island since the deluge. The latter, rather than submit to the tyranny
and oppression o f those— as Irish history terms them— pirates, (who, how­
ever, appear to have been sufficiently civilized to have been acquainted
with the erection o f buildings with lime and stone,) they left the island^, and,
according to what is looked upon as the best account, that o f Pomponius
Mela, ‘ "landed in Achaia, a country o f Greece, which borders on Boeotia,
near the city o f Thebes,” where they acquired the name o f Tuatha do
Dan ans. Being fearful, however, o f falling into the hands o f the Assyri­
ans, they came to the resolution o f quitting that country ; and wandering


\


Ireland.
from place to place, they at length arrived in Denmark and Norway,
where they were welcomed, with much hospitality, by a people who admired and respected them, on account o f their great learning, skill in magic,
and the wonderful effects o f their enchantments. Having resided for some
time in those northern regions, instructing their rude but hospitable and
warlike entertainers, they once more determined to set out in search o f
new and better settlements, in more southern latitudes. They remained
seven years in what is now called Scotland, and from thence, with greatly
increased numbers, they removed into Ireland, where, resolving to estab­
lish themselves, they set fire to and destroyed their ships. Many o f the
monuments now existing in Ireland, falsely attributed to the Danes, were
doubtless erected by them.
Another tradition asserts, that King Milesius o f Spain first attempted to
land, 1080 years after the deluge, upon the northern coasts o f Leinster, at
a place now called Wexford ; but the Tuatha de Danans, being alarmed
at seeing such a number o f ships flock to the shore, and by the power o f
the enchantments and diabolical arts of their Druids, were enabled to cast
so dense a cloud over the whole island, that the Milesians were confound­
ed at beholding nothing but a fog-bank, resembling the back o f an im­
mense hog. All which, however, cannot but be regarded as extremely
fabulous. After a considerable further period, in the year o f the world
3075, Arldergoidh, a descendant o f Milesius, succeeded to the throne of
Ireland, and after reigning seven years, was slain at the battle o f Tara.
He was succeeded by Ollamha Foodhla, who reigned thirty years, and
was a prince of many excellent qualities. He assembled at his palace at
Tara, the then capital o f the island, now called Drogheda, his principal
nobility, his Druids, his poets and historiographers, once in every three
years, to revise the body o f established laws, and to change or correct
them as the exigency of affairs required. The descendants o f the Mile­
sians may be found in the island in the present day. The Celts also, at
some period veiled in obscurity, made extensive settlements upon the
southern and western coasts, and their descendants form much the
largest proportion o f the existing population o f the island. The island,
from the earliest times, was divided into numerous separate principalities,
and incessant hostilities were waged by the petty sovereigns against each
other, which were not even interrupted by the invasion o f the Danes, in
the ninth century. The latter, in no very great space o f time, became
masters o f the greater part o f the coasts o f the island, and occupied the
ports of Dublin, Wexford, Waterford, and Cork, when the island was in­
vaded, towards the close o f the twelfth century, by Henry II. and annexed
to the English crown, which event is thus summarily narrated by
Hume :—
“ Besides many small tribes, there were, in the age o f Henry II., five
principal sovereignties in the island: Munster, Leinster, Meath, Ulster, and
Connaught; and as it had been usual for one or the other o f these to take
the lead in their wars, there was commonly some prince who seemed, for
the time being, to act as monarch o f Ireland. Roderic O’Connor, king of
Connaught, was then advanced to this dignity ; but his government, ill
obeyed even within his own territory, could not unite the people in any
measures either for the establishment o f order, or defence against foreign­
ers. The ambition o f Henry had, very early in his reign, been moved by
the prospect o f these advantages to attempt the subjugation o f Ireland ;




Ireland.

583

and a pretence was not wanting to invade a people who, being always
confined to their own island, had never given any reason o f complaint to
any o f their neighbors. For this reason he had recourse to Rome, which
assumed a right to dispose o f kingdoms and empires ; and not foreseeing
the dangerous disputes which he was one day to maintain with that See,
he helped for present, or rather for an imaginary convenience, to give
sanction to claims which were now become dangerous to all sovereigns.
Adrian III., who then filled the papal chair, was by birth an Englishman,
and being on that account the more disposed to oblige Henry, he was ea­
sily persuaded to act as master o f the world, and to make, without any
hazard or expense, the acquisition o f a great island to his spiritual juris­
diction. The Irish had, by precedent missions from the Britons, been
imperfectly converted to Christianity ; and, what the pope regarded as the
surest mark of their imperfect conversion, they followed the doctrines o f
their first teachers, and had never acknowledged any subjection to the See
o f Rome. Adrian, therefore, in the year 1156, issued a bull in favor of
Henry, in which, after premising that this prince had ever shown an anx­
ious care to enlarge the church o f God on earth, and to increase the num­
ber of his saints and elect in heaven, he represents his design o f subduing
Ireland as derived from the same pious motives ; he considers his care of
previously applying for the apostolic sanction as a sure earnest of success
and victory; and having established it as a point incontestible, that all
Christian kingdoms belong to the patrimony o f St. Peter, he acknowledges
it to be his own duty to sow among them the seeds o f the gospel, which
might in the last day fructify to their eternal salvation ; he exhorts the king
to invade Ireland, in order to extirpate the vice and wickedness o f the na­
tives, and oblige them to pay yearly, from every house, a penny to the See
o f Rome ; he gives him the entire right and authority over the island, com ­
mands all the inhabitants to obey him as their sovereign, and invests with
full power all such godly instruments as he should think proper to employ
in an enterprise thus calculated for the glory o f God and the salvation o f
the souls o f men. Henry, though armed with this authority, did not im­
mediately put his design in execution ; but being detained by more inter­
esting business on the continent, waited for a favorable opportunity o f in­
vading Ireland.
“ Dermot Mac Morrogh, king o f Leinster, had, by his licentious tyranny,
rendered himself odious to his subjects, who seized with alacrity the first
occasion which offered itself of throwing off the yoke, which had become
grievous and oppressive to them. This prince had formed a design on
Dovergilda, wife o f Ororic, prince o f Breffny ; and taking advantage of her
husband’ s absence, who, being obliged to visit a distant part o f his terri­
tory, had left his wife secure, as he thought, on an island surrounded by a
bog, he suddenly invaded the place and carried off the princess. This
exploit, though usual among the Irish, and rather deemed a proof o f gal­
lantry and spirit, provoked the resentment o f the husband ; who, having
collected forces, and being strengthened by the alliance o f Roderic, king
o f Connaught, invaded the dominions o f Dermot and expelled him his
kingdom. The exiled prince had recourse to Henry, who was at this time
in Guienne, craved his assistance in restoring him to his sovereignty, and
offered, on that event, to hold his kingdom in vassalage under the crown
o f England. Henry, whose views were already turned towards making
acquisitions in Ireland, readily accepted the offer; but being at that time




584

Ireland.

embarrassed by the rebellion of his French subjects, as well as by his dis­
putes with the See o f Rome, he declined, for the present, embarking in
the enterprise, and gave Dermot no further assistance than letters patent,
by which he empowered all his subjects to aid the Irish prince in the re­
covery of his dominions. Dermot, supported by his authority, came to
Bristol; and after endeavoring, though for some time in vain, to engage
adventurers in the enterprise, he at last formed a treaty with Richard,
surnamed Strong-bow, Earl o f Strigal. This nobleman, who was o f the
illustrious house o f Clare, had impaired his fortune by expensive pleasures;
and being ready for any desperate undertaking, he promised assistance to
Dermot, on condition that he should espouse Eva, daughter of that prince,
and be declared heir to all his dominions. While Richard was assembling
his succors, Dermot went into Wales ; and meeting with Robert FitzStephens, constable o f Albutivi, and Maurice Fitzgerald, he also engaged
them in his service, and obtained their promise of invading Ireland.
Being now assured o f success, he returned privately to his own state ; and
lurking in the monastery of Fernez, which he had founded, (for this ruffian
was also a founder o f monasteries,) he prepared everything for the recep­
tion o f his English allies.
“ The troops o f Fitz-Stephens were first ready. That gentleman landed
in Ireland with thirty knights, sixty esquires, and three hundred archers;
but this small body, being brave men, not unacquainted with discipline,
and completely armed, a thing almost unknown in Ireland, struck a great
terror into the barbarous inhabitants, and seemed to menace them with
some signal revolution. The conjunction of Maurice de Pendergast, who,
about the same time, brought over ten knights and sixty archers, enabled
Fitz-Stephens to attempt the siege o f Wexford, a town inhabited by the
D anes; and after gaining an advantage, he made himself master o f the
place. Soon after, Fitzgerald arrived with ten knights, thirty esquires,
and a hundred archers; and being joined with the former adventurers,
composed a force which nothing in Ireland was able to withstand. Roderic, the chief monarch o f the island, was foiled in different actions ; the
prince o f Ossory was obliged to submit and give hostages for his peaceable
behavior; and Dermot, not content with being restored to his kingdom o f
Leinster, projected the dethroning o f Roderic, and aspired to the sole do­
minion of Ireland.
“ In prosecution o f these views, he sent over a messenger to the Earl o f
Strigal, challenging the performance of his promise, and displaying the
mighty advantages which might now be reaped by a reinforcement o f war­
like troops from England. Richard, not satisfied with the general allow­
ance given by Henry to all his subjects, went to that prince, then in Nor­
mandy; and having obtained a cold or ambiguous permission, prepared
himself for the execution o f his designs. He first sent over Raymond, one
o f his retinue, with ten knights and seventy archers, who, landing near
Waterford, defeated a body o f three thousand Irish, who had ventured to
attack him ; and as Richard himself, who brought over two hundred horse,
and a body o f archers, joined, a few days after, the victorious English, they
made themselves masters o f Waterford, and proceeded to Dublin, which
was taken by assault. Roderic, in revenge, cut off the head o f Dermot’ s
natural son, who had been left as a hostage in his hands ; and Richard,
marrying Eva, became, soon after, by the death o f Dermot, master o f the
kingdom of Leinster, and prepared to extend his authority over all Ireland.




Ireland.

585

Roderic and the other Irish princes were alarmed at the danger, and
combining together, besieged Dublin with an army o f thirty thousand men ;
but Earl Richard, making a sudden sally at the head o f ninety knights,
with their followers, put this numerous army to rout, chased them off the
field, and pursued them with great slaughter. None in Ireland now dared
to oppose themselves to the English.
“ Henry, jealous o f the progress made by his own subjects, sent orders
to recall all the English, and he made preparations to attack Ireland in
person ; but Richard, and the other adventurers, found means to appease
him, by making him the most humble submissions, and offering to hold all
their acquisitions in vassalage to his crown. That monarch landed in
Ireland at the head o f five hundred knights, besides other soldiers. He
found the Irish so dispirited by their late misfortunes, that, in a progress
which he made through the island, he had no other occupation than to re­
ceive the homage o f his new subjects. He left most o f the Irish chief­
tains or princes in possession o f their ancient territories ; bestowed some
lands on the English adventurers; gave Earl Richard the commission of
seneschal o f Ireland; and after a stay o f a few months, returned in tri­
umph to England. By these trivial exploits, scarcely worth relating, ex­
cept for the importance o f the consequences, was Ireland subdued, and
annexed to the English crown.”
And, remarks John Quincy Adams upon the event, “ let the finger
o f scorn be pointed, in all future time, at the example exhibited six hun­
dred years ago, o f a country sold to a foreign invader at the price o f vio­
lated marriage vows, unprincipled ambition, and religious imposture.'”
Soon after the conquest effected by Henry in 1171, the island was di­
vided by his successor, King John, into twelve counties. But though the
king o f England received the submission o f the Irish chieftains, and was
nominally lord of Ireland, his authority was, for a lengthened period, only
partially recognized. The miseries resulting from the interminable dis­
orders inseparable from such a state of things, were increased in 1315 by
an invasion o f the Scotch, under Edward, brother o f Robert Bruce. He
overran the greater part o f the country, but was finally defeated and killed
near Dundalk. The resources o f the country were also wasted in subsi­
dies, and its youth carried away to fight the battles o f their masters on the
continent, or in England, during the wars between the houses o f York and
Lancaster. After the death o f Richard III., and the accession o f Henry
VII., had terminated this sanguinary struggle, Ireland was chosen by the
defeated party o f the Yorkists as a theatre for the dethronement of the new
monarch.
In consequence, Lambert Simnal was sent thither by the
Duchess of Burgundy, as the descendant and representative o f Edward
IV . His title was acknowledged by the Anglo-Irish, and he was crowned
in Dublin with all the ceremonies attendant on the inauguration o f the
ancient Irish sovereigns. A similar, though less vigorous effort was made
in favor o f Perkin W arbeck, whose title was also acknowledged in the
south o f Ireland.
In 1495, a parliament assembled at Drogheda, under the presidency o f
Sir Edward Poynings, then Lord Deputy, and passed some very important
statutes. By one o f these, afterwards called “ Poyning’s Law,” effectual
provision was made for maintaining the ascendancy o f England over the
legislature o f Ireland, by which the power of the Irish Parliament was re­




586

Ireland.

stricted to the mere acceptance or rejection o f bills approved or modified
by the English government.
Early in the reign o f Henry V III., the spirit o f insurrection broke out
in a formidable shape. The chief authority had previously been exercised
for a lengthened period by the rival families o f the Fitzgeralds and But­
lers, whose heads were the Earls o f Kildare and Ormond. The intro­
duction o f the reformed doctrines during the reign of Henry VIII., which
was effected with equal violence and contempt for those within and
without the English pale, brought a new element o f discord into Ire­
land. The native Irish were devoted adherents of the church o f Rome.
Their hostility to the new doctrines did not, however, display itself openly
during the reign o f Henry, nor in that o f his Protestant successor, Ed­
ward V I .; but it broke out in unrestrained fury in that of Elizabeth. U l­
ster was at about this time divided into counties, and planted with numerous
bodies o f English and Scotch settlers, which laid the foundations o f the
improvement o f that province, and gave it a distinctive character. The
reign of James I., and the earlier part o f that of Charles I., formed a peri­
od o f undisturbed tranquillity. But the disputes between the latter and the
English Parliament, afforded the Irish a flattering, though fallacious pros­
pect o f regaining their independence, and re-establishing their religion.
T o effect their object, an insurrection was secretly organized, on a very
extensive scale, embracing not only the native Irish, but many Roman
Catholic families o f English descent. This formidable conspiracy broke
out in 1641. The most horrible excesses were committed by the con­
spirators, which were sometimes fearfully retaliated ; and the country con­
tinued to be a prey to all the horrors o f civil war until 1649, when Crom­
well appeared in the field at the head o f a well disciplined and powerful
army. Having taken Drogheda by storm, he delivered it up to military ex­
ecution ; and such was the terror inspired by the fate o f that city, that
almost all the strongholds belonging to the party of the Catholics soon
after fell into his hands, and the English supremacy was, for the first time,
established in every part o f Ireland.
After this tremendous visitation, Ireland continued tranquil, and began
to advance considerably in prosperity, until the events connected with the
revolution of 1688 again made it the theatre o f fresh and sanguinary con­
tests. After the flight o f James II. from England, he landed with a view
to retrieve his fortunes in Ireland, where he was received with open arms
by the Catholics; and having brought with him from France a number of
experienced troops and officers, partly Irish and partly French, he found
himself at the head o f a powerful army. But he was without the talents
necessary to insure success in such an enterprise. The battle of the Boyne,
on the 1st of July, 1690, gained by William III., turned the scale com­
pletely in favor o f the latter; and the battle of Aughrim, on the 13th o f
July, 1691, when the British, under Ginkell, afterwards Earl o f Athlone,
obtained a decisive victory over the troops o f James II., commanded by
St. Ruth, who fell in the action, was the last great effort made by the
Irish to achieve their independence. The remains o f the Irish forces,
having retreated to Limerick, capitulated under conditions embodied in
the treaty signed at that place. By the total reduction o f Ireland in 1691,
the ruin o f the native Irish, and, in a great measure, too, o f the first races
o f the English, was completely accomplished.
The confiscations which followed Cromwell’s success were upon so vast




Ireland.

587

a scale, that about four-fifths o f the soil o f the island was transferred to
new proprietors, either parliamentary soldiers or speculators, called ad­
venturers, who had advanced money to carry on the war. There being
no longer any means o f rising, nor even security at home, the aspiring
Catholic youth sought employment and distinction in the service o f France,
which, for a lengthened period, drew large supplies of recruits from Ire­
land. But the penal code failed to effect its object; and, instead o f being
exterminated, the Catholics gradually acquired a still greater numerical
superiority. At length, in the earlier part o f the reign o f George III., the
rigor o f the code began to be abated, and the Catholics ceased to be re­
garded as mere ferai natural.
One o f the most curious chapters in Irish history is that connected with
the embodying o f the volunteers in 1782, and the revolution, which was
soon after effected in the constitution o f Ireland. The difficulties in which
Great Britain was then involved having occasioned the withdrawal o f the
troops from Ireland, rumors were propagated o f an invasion o f the island
by the F rench: and to meet this contingency, the Protestants o f Ulster
took up arms and formed themselves into volunteer corps. These bodies
soon became sensible o f their strength, and having appointed delegates
and concerted measures, they proceeded to set about reforming the con­
stitution. In this view they published declarations, to the effect that Ire­
land was a free and independent kingdom, and that no power on earth,
except that o f the king, lords, and commons o f Ireland, could legally enact
laws to bind Irishmen. But, Great Britain being then engaged in a des­
perate contest with her American colonies, and with almost all the great
European powers, prudently made the concession demanded by the Irish
volunteers, and the independence o f Ireland was proclaimed amid the most
enthusiastic demonstrations o f popular rejoicing. But this independence
was apparent only. The wretched state o f the elective franchise, and the
venality o f the Irish Parliament, rendered it extremely easy for any British
ministry to secure a majority in that assembly. The consequent disap­
pointment o f the Irish patriots, and the hopes inspired by the French revo­
lution, induced the rebellion o f 1798 ; which was not suppressed without
a repetition o f the former scenes o f devastation and bloodshed. The
British government at length determined to effect a legislative union be­
tween Great Britain and Ireland, and to suppress the separate legislature
o f the latter. This measure, notwithstanding strenuous opposition, was
consummated, and took effect at the commencement o f the present
century.
W e will now attempt to give a geographical description o f the island.
Ireland covers a surface o f 31,874 square m iles; being as large as the
five States o f New Hampshire, Vermont, Massachusetts, Connecticut, and
Rhode Island. It is, in the main, a level, intersected with low hills, and
with mountain ranges on its coast. She has fourteen bays which will hold
and navigate the largest men-of-war, and from thirty to forty for the larger
class of merchant vessels. Her coasts abound with fish of the best qual­
ity. She has nearly two hundred rivers, swarming with cod, mackerel,
salmon, shad, herring, and other varieties o f the finny tribes. There are
also large beds o f oysters, which yield valuable returns when properly
fished. Whales are also met with in the Irish sea. Her agricultural
productions amount to $200,000,000 annually, produced from 14,003,473
acres o f land. She has large and beautiful lakes— one, her world-re-




588

Ireland.

nownad Lough Neagh, has a surface o f 49,780 acres. She is rich in
her mines o f coal, iron, and copper. In 1845, though yet in their infancy,
they employed nearly 4,000 men, and yielded more than 80,000 tons of
the richest ore.
Some o f the coal strata equal, both in quantity and
quality, any in the British dominions. Nor need her 5,000,000 acres of
turf-bog be a waste, for, by its judicious use alone, she can make as fine
a quality o f iron as England has ever produced. Her centre, for nearly
150 miles square, is a soil resting upon the best limestone. The residue o f
her soil has the finest basis— granite, clay, basalt, and trap. Some parts
o f the island exhibit the richest loam ever turned up by the plough ; and
the rich pastures and heavy crops, which are everywhere raised, even
with the most wretched culture, attests its extraordinary fertility. Thirteen
out o f twenty millions o f acres, consist o f arable land; and o f its eight
millions o f inhabitants, five are engaged in agriculture. Its natural re­
sources o f every kind, its climate, the variety and beauty o f its scenery,
are all unsurpassed by any other part o f central Europe. Some idea may
be formed o f the extent o f its exports, from the fact, that thirteen ships
arrived in one day (8d of April last) at London, from different ports of
Ireland, laden with oats, wheat, pork, and other productions o f that island.
The exports o f grain (chiefly oats) in 1838, when it had reached its max­
imum, was 3,474,000 quarters. Since then there has been a considerable
falling off, but it is still upwards o f 2,000,000 quarters annually. Her ex­
ports o f linen exceed, annually, 70,000,000 yards. Over 600,000 head of
cattle are annually exported to England and the continent. The total
value o f all her exports, annually, is estimated to be upwards o f
$100,000,000 ; nearly, if not quite, equal to that o f the United States.
The most fertile parts o f the island are the provinces o f Leinster and Ul­
ster, which are principally settled by people o f English and Scotch de­
scent. Munster and Connaught contain a much larger proportion o f bog
and unimproved land, and the inhabitants speak principally the Irish
language,; whilst in Leinster, nothing is heard but the English, and in
Ulster, the Scotch dialect.
The vast extent o f some o f the estates in Ireland offers a melancholy
contrast to the minuteness o f some o f the potato-patches. The territory
o f the city o f Belfast, containing a population o f 60,000, is the property
o f a single individual. There is no country in Europe, where the actual
cultivators of the soil have so little interest in the land which they culti­
vate as in Ireland. In that island there are single estates more extensive
than German principalities, with farms (if such an expression can be
applied) not larger than many o f the parks or squares in New York or
Philadelphia, or o f the small enclosures called “ training-fields” in New
England. In the county o f Tipperary, out o f 3,400 holdings, there are
280 o f less than an acre, and 1,056 o f more than one, but less than five.
Few farms exceed the size o f 40 acres, the majority being about five
acres, and varying from five to ten and fifteen acres. Drainage, though
the most essential o f all improvements, is all but unknown in the greater
number o f Irish farms. Such a thing as a barn is hardly known among
the small occupiers ; and the grain is not unfrequently thrashed on the
public roads, which serve as barn-floors. About four-fifths o f the soil
having been forfeited under Cromwell and William III., and bestowed up­
on English noblemen, gave rise to the practice of absenteeism, and the con­
sequent creation o f the class called “ middlemen” and partnership tenures.




Ireland.

589

A system which has received the name o f “ con-acre” is very prevalent
in some parts o f Ireland, particularly in Connaught.
By con-acre is
meant a pernicious system of letting to the peasantry, by the landlords
and large proprietors o f farms, small slips of land varying from a perch to
half an acre, for a single season, to be planted with potatoes or cropped.
Potatoes are invariably planted on con-acre ground, and afterwards it is
usual to take from it successive crops o f grain, till it is entirely exhausted,
and then it is left to be recovered by the vis medicatrix natures. W hen­
ever the crop falls short, as frequently happens, the cottiers are reduced to
the extreme o f distress, as they cannot remove any, the least portion o f the
crop, until the rent is paid. It is their miserable system o f agriculture
which is the chief cause of the poverty o f Ireland. The conclusion, there­
fore, is irresistible, that the condition o f Irish agriculture, the miserable
device o f middlemen, the habit o f under-letting, the con-acre system with
its oppressive results, the perpetual depression o f the cottier tenant to the
point just above starvation mark, the obstacles that oppose themselves to
improvement everywhere, the all but impossibility o f peaceable ejection,
the irregularity with which rents are paid, the universal poverty, discon­
tent, and crime— all these are but the natural effects o f such an arrange­
ment o f the social machine as is not to be met with out o f Ireland, and for
a parallel to which we vainly look in the pages o f history. Is there any.
thing in the physical conformation o f an Irishman’s body, or in the natural
adjustment o f the faculties o f his mind, which should hinder him from be­
coming like his English neighbor, an industrious, peaceable, and intelli­
gent member o f society? Surely there is not. Ireland is in the wretched
state we find her in, because Great Britain is trying to govern her on a
principle which is quite inapplicable to her case. Ireland is not fit for the
English constitution either in the main or in its details. In Ireland, the
foundation o f the whole fabric— the union o f Church and State, which
England is so proud o f—is worse than a mockery. There is no union—
there can be no union— so long as the English constitution is interposed,
in Ireland, between the church o f the Irish people and the body politic.
The established church in Ireland is the church of a miserable minority.
It exercises no kindly influence over the minds o f the masses. So far from
being a source o f strength to the government, it is the chief cause o f its
weakness. Considered as a state-engine, it is worse than useless ; it is
positively mischievous.
A gain : the extension o f the elective franchise to the classes o f persons
who enjoy i t ; the municipal rights which the inhabitants o f boroughs ex­
ercise ; the formalities o f law processes ; the tenderness which the law ex­
hibits for men’s persons and rights ; the trial by jury itself, palladium
though it be o f an Englishman’s liberties, are as little suited to the present
condition of the Irish, as to a horde o f Bedouin Arabs or a tribe o f Indi­
ans. There is an influence in Ireland, which, being altogether opposed
to the established order o f things, converts these instruments o f solid good
into instruments o f frightful evil. Not one Irish voter out o f ten throws
his vote except at the dictation o f parties, to whom the constitution under
which they live is detestable. It is not, however, in these respects alone
that the absolute unfitness o f English institutions to a people circum­
stanced as the Irish are, in regard to their social arrangements, is made
manifest. Though, in both countries, the letter o f the law holds all men
to be equal, the spirit o f the constitution confers upon the English gentry




590

Ireland.

and clergy— at all events in the rural districts— a sort o f paternal guar­
dianship over their poorer neighbors, o f which the Irish know nothing.
It is from the English squire that the cottager looks for the trifling indul­
gences of which he may stand in need, for the repair o f his dwelling, or
the accommodation o f a little garden ground, and rarely indeed are they
refused him. Yet he seldom thinks o f applying to the squire. He goes
to the vicar, tells his tale to him, and comes away satisfied that he has
found in him a willing and efficient advocate. But not so in Ireland. The
Irish cottier and Irish squire seldom meet. The latter is an absentee, or
if not, he is a Protestant; and in either case personally obnoxious to the
Popish priest, who, by-the-by, is seldom too warmly attached to a Roman
Catholic landlord, unless the latter is content to play, in all respects, se­
cond fiddle to his reverence. And as to the steward and extensive occu­
pier, the one being regarded as the cottier’s inveterate foe, and feeling
that, by the cottier, he is so regarded, he keeps out of the way as much as
he can ; while the other may hurt and oppress his laborer, but seldom has
it in his power to do him a good turn. All the paternal authority and su­
perintendence, therefore, which is afforded by the higher to the lower
classes in an English agricultural parish, and which work such excellent
effects upon the moral and social condition o f the English peasantry, are
wanting in Ireland, where there is seldom a resident squire ; where, if
there be a parson, he is not in the peasant’s confidence. Ireland is, in
the strictest sense o f the term, an agricultural country. W e are apt to sup­
pose, that the habits o f an agriculturist’s life tend to develop the social vir­
tues ; to keep him simple in his tastes, pure in his religious principles,
quiet in his deportment, moderate in his very wishes— and everywhere it
is so, except in Ireland. There is not a happier or a more virtuous people
upon the face o f the earth than the pay sans o f France. Vice there may
be in the great cities, but the country places are the seat of as much con­
tentment and as perfect innocence as you will find among the dwellingplaces o f men. But in Ireland the reverse is the case. Irish towns, es­
pecially the larger ones, are generally quiet enough. The agricultural
districts o f Ireland are in a state o f universal disturbance. How is the ex­
traordinary fact to be accounted for ? “ Because Ireland,” says one, “ is
made up o f two nations.” — “ Because there is no resident gentry in the
districts where they are most needed,” exclaims another.— “ Because you
persist in keeping up an established church,” insists a third.— “ Because
the legislative union,” declares the repealer, “ has destroyed Irish com­
merce, increased Irish absenteeism, accumulated burdens on Irish indus­
try, and shackled Irish freedom.” The existence o f two races is no doubt
the cause o f much heart-burning ; but there it is, and you cannot get rid of
it for many generations to come. Again, Ireland is not the only country
in the world where absenteeism prevails. In France, not one great land­
holder in ten lives upon his estate. The same is the case in Austria,
Prussia, and Belgium. They leave them to be leased out in chanceries.
Yet the people o f those countries are contented, comfortable, and happy.
Before Ireland can be lifted from the miserable state to which she has fall­
en, she must undergo a social and moral discipline, such as has never yet
been applied to her. All that can be desired is tranquillity, comfort, and
order, and a better moral life for the Irishman ; and any means which bid
fair to produce these effects, will be hailed by every Christian and patriotic
man with exultation and rejoicing.




Ireland.

591

But it is time that this article was brought to a close. W e shall but
briefly allude to the famine, with the horrible details o f which our readers
are already somewhat familiar. Heaven grant that Ireland may not again
be visited with so tremendous an affliction. It was stated on the floor o f
the House o f Commons, by Mr. Reynolds, that upwards o f one million
o f human beings died from the effects o f famine in that island. On the
first o f November, 1845, it was discovered that the potato crop had so far
failed, that without foreign aid great distress would follow in the first six or
seven months of ’46. So intense became the pressure o f want in January
o f that year, that a circular was issued, calling a national meeting o f all
the peers, members o f Parliament, and landed proprietors o f Ireland, to
meet at the Rotunda in Dublin, on the 14th January, to devise measures
o f both temporary and permanent relief. It was attended by upwards o f
six hundred peers, members o f Parliament, and landed proprietors, from
all parts o f the country. The late Mr. O ’ Connell was present and en­
tered warmly into the debate, and among other remarks, said—
“ That he would not enter into the. details o f particular provinces and
localities ; but a frightful flood o f horror and starvation pours over the land
for the want o f food. O ! what memorable instances o f self-devotion have
not the people o f Ireland exhibited on the present occasion. Am I not
proud o f the memory o f my poor countryman, who, going fourteen miles to
get labor, spending two days at that labor, earning enough to buy a stone
and a half o f meal for his family, brought it home untouched and untasted,
and fell down dead at the door of his own house from absolute inanition.”
On the 30th November, 1846, the Society o f Friends, Dublin, despatch­
ed a committee, on that day, on a tour o f investigation through the W est­
ern districts of Ireland. They found the poor-houses crowded to excess;
the inmates excessively filthy, and great numbers, even females, almost
destitute o f clothing; fever and dysentery making awful ravages, especial­
ly among the newly admitted, who were often found in a state o f great
exhaustion from previous deficiency o f nourishment and use o f unwhole,
some food, and from the sad fact, too, that being in the last stage o f dis­
ease, they pressed into those houses, not for medical aid or food, but to ob­
tain a decent burial. Mr. Wm. Foster, o f that committee, giving the de­
tails o f his tour, thus writes respecting the district of Skibbareen :—
“ 1 feel persuaded, from what the rector o f the parish o f Creugh told
me, that, at a very low calculation, Jive thousand will perish in that parish
alone within three months, unless aid on a large scale be sent to them.
The food is all consumed. They lie in a village scattered along the
coast, with a large barren mountain in the centre. Unless relieved— and
it will even now come too late to many— they must perish in the most
awful manner. Half an acre has been added to the church-yard, and
two men employed to dig graves for all brought; for the bodies were left
not half put into the ground.”
But enough. The sable pall o f famine settled alike over Ireland’s
mountain wilds, her sterile shores, her beautiful vales, and around the
shores o f her noble rivers and poesy-breathing lakes. Even the Bibles o f
the suffering cottiers, the most sacred and last possession to be yielded by
man, were pledged to lengthen out an existence filled only by suffering
and blank despair.
And now, in closing, what shall we say of the future prospects o f Ire­
land ? Daniel O ’Connell, the master spirit o f agitation, has departed, to




532

A Railroad from the Atlantic to the Pacific:

render an account to the judge o f all the earth for the deeds done in the
body. Tom Steele, his immediate coadjutor, is disabled, both mentally
and physically, by an attempt to commit suicide— having shattered his
nervous system by his fall into the river, from which he was rescued by
the bystanders. Mr. O ’ Connell undoubtedly managed the power which
he created with his well-known skill and discretion ; but since the scep­
tre o f repeal has been transferred into the hands of his successors, the real
props o f agitation have openly assumed the position which they have long
though secretly filled. Every step which the British government has yet
taken, has only led Ireland still deeper into the mire o f social disorder.
They repealed the Arms act, and within one short year were compelled to
pronounce condemnation on their own imprudence. On the 18th April
last, the House o f Commons, by a vote o f 295 to 40, passed “ The Crown
and Government security bill,” after a warm and animated discussion, de­
claring it felony, punishable with transportation for life, or imprisonment
for more than seven years, to set on foot proceedings to overthrow the
queen’s authority, or to overawe the legislature, or to invite foreign inva­
sion. On the other hand, Ireland’ s inhabitants are arming at all points,
and a desperate crisis must soon ensue in the affairs o f that island.
Would the repeal o f the legislative union, if effected to-morrow, be o f
immediate benefit to Ireland 1 W e reply, that it would not. At least one
generation o f men must pass off the stage in Ireland before she can derive
permanent benefit from it. Education must be more extensively diffused
among her children. She must subject herself to a severe course o f moral
training. She must learn to respect the rights of property. She must
learn to appreciate the blessings o f liberty— not that liberty which degen­
erates into licentiousness, but that liberty which is founded upon and pro­
tected b y l a w . Then, and then only, may we expect to witness the realization o f the prophetic wish of the Sage o f Quincy, whose funeral knell
still lingers in his country’s ear—
“ Soon may she stand (Earth ! Heaven ! give cheers !)
An I ndependent State amidst her peers.”
D. M. B.

Art. II.— A RAILROAD FROM THE ATLANTIC TO THE PACIFIC:
W HERE

SH ALL

TH E

R A IL R O A D
SH ALL

IT

B E G IN
END

ON T H E

ON T H E

A T L A N T IC , A N D

W HERE

P A C IF IC ?

W e have great pleasure in laying before our readers a copy o f an un­
published letter o f M. F. M atjry, Lieutenant United States Navy, ad­
dressed to the Hon. John C. C alhoun , Senator in Congress from South
Carolina. It accompanied a chart, prepared by Lieut. Maury at the re­
quest of that distinguished statesman. W e regret that the size o f the
chart (for a copy o f which, in connection with the letter, we are indebted
to the kindness o f the author) compels us to exclude it from the pages o f
our Journal. The letter, however, embraces many valuable statements
and well-considered views, that cannot fail o f eliciting a very general inter­
est in the subject.




W here shall the Railroad begin on the Atlantic ? etc.
N

a t io n a l

O bservatory,

593

Washington, March, 29, 1848.

D ear S ir : — I have the pleasure o f sending you, as you requested I

would do, a chart showing the relative distances to Monterey and the Co­
lumbia river from some o f the principal points on the Atlantic coast. I
have added such other information as, in my judgment, is calculated to
throw light on the interesting subject, as to the best route across the coun­
try for reaching, by railroad, the Pacific coast o f the United States.
I am clearly o f the opinion that a railroad, through the heart o f the
country to the most convenient point of our Pacific coast, is greatly more
in accordance with the true interests o f the United States, than any route
by canal or railroad that can be constructed across the narrow neck of
land between North and South America.
A chief value o f a railroad or canal consists in its collateral advantages,
so to speak, by which I mean the advantages which the country and the
people, in the vicinity o f the improvement, derive from i t ; such as the in­
creased value o f land and property of various kinds.
The increased value which such property has derived from the railroads
and canals in the United States, exceeds, I suppose, the original cost o f
the works themselves. This, therefore, may be considered a permanent
value attached to property o f our fellow-citizens, which no reverse o f for­
tune, no enactment o f laws, nothing but a destruction o f the works themselves, can ever destroy.
A canal between the two continents would not pass through the United
States territory, and consequently the citizens o f the United States would
derive no such collateral advantages from it, nor her statesmen the pre­
rogative o f taxing such increased value for the revenues o f the country ;
but they would derive them abundantly from a railroad running through
the heart o f the Union, and connecting its Atlantic with its Pacific ports.
In this fact is included one o f the many reasons which induced me to
favor a railroad across the country, in preference to a canal out o f the
country, for connecting the two oceans.
The question, therefore, is : Where shall the railroad begin on the At­
lantic, and where shall it end on the Pacific ?
Unfortunately, the present state o f topographical information as to the
several routes that have been proposed for reaching the Pacific by rail­
road, is not sufficient to afford a satisfactory reply to this question. I pro­
pose to consider it, therefore, only in a geographical and commercial point
o f view, leaving the final decision o f the question for hydrographers and
engineers after they shall have made the necessary examinations and
surveys.
If we continue to increase our tonnage for the next two or three years
at the rate o f increase for the last two or three, the shipping o f the United
States will then exceed that of Great Britain, and the commercial su­
premacy o f the seas will be ours, so far, at least, as the business o f fetch­
ing and carrying is concerned.
I f you will examine the accompanying chart, you will observe that I
have drawn geographically, the dividing line o f commerce between E ng­
land and the Atlantic ports o f the United States. Any point in this line is
equidistant from us and from England ; consequently England is nearer
to all places, including the ports of Europe, the Mediterranean, and o f Af­
rica north o f the equator, which are to the east o f that dividing line, and
geographically speaking, therefore, can meet us on that side o f it with advol . x v iii .— no .




vi.

38

504

A Railroad from the Atlantic to the Pacific:

vantage ; whereas all places on this side o f that line, including her Ameri­
can colonies, the West Indies, and the States o f Central and South Ameri­
ca as far as the equator, are, geographically, more favorably situated for
commerce with the United States than with England.
Now it so happens that this dividing line crosses the equator at what
may be considered the great thoroughfare o f vessels trading to the south
o f it, whether they be English or American, or whether they be bound
around Cape Horn or the Cape of Good Hope. The winds are such as
to make this the common and best place o f crossing for all such vessels.
Consequently, geographically speaking, the ports o f Brazil, o f the Pa­
cific Ocean, China, and the East Indies, are as convenient to the Atlantic
States o f the Union as they are to England ; and the merchandise o f the
two countries may be said to meet there precisely on equal terms.
Hitherto, the great channels of trade have led to Europe ; yet, notwith­
standing that the position o f England is much more central than that o f
the United States with regard to Europe, (the vessels o f the former ma­
king, in a week, voyages which it takes ours months to accomplish,) we
have, under these disadvantages, never ceased to gain on our competitor,
and are now about to pass her, with our ships, in the commercial race.
The coasts of Oregon and California are just beginning to feel the en­
ergy o f American enterprise, and are last filling up with our citizens.
Where they go, there commerce will come. The peopling o f these coasts
will greatly enlarge the commercial limits o f the United States ; extend­
ing them from lines into a greatly elongated ellipse with its conjugate
centres, one on the Pacific, the other on the Atlantic.
Having determined what port on the Pacific offers the most advantages
for the commercial foous there, it will then be easy to project the major
axis o f this new commercial curve ; for the line across the country which
joins these two centres, wfill show, geographically, the best route for a
railroad between the two oceans.
The shortest distance between two places that are not on the equator,
or in the same longitude, is the arc of a great circle, included between
them ; and this arc appears on the chart as a curve. I have drawn suih
curves on the chart, and called them great circle routes, because they
show the route by which a traveller may go from place to place by ac­
complishing the smallest number o f miles possible, supposing he could fol­
low a line through the air.
You will observe that the great circle, which shows the shortest navi­
gable route between Chili, all the ports o f Peru, Ecuador, Central America
and Mexico, passes so near to Monterey, that if a steamer bound from
Chili to Shanghae, in China, were to pursue the shortest route which it is
possible to go, she would make Cape St. Lucas, in Lower California, and
might touch at San Diego, Monterey, or San Francisco, by going less than
100 miles out o f her way.
But if the point o f departure were Panama, then it would be 1,000 miles
nearer to take the great circle via California, than to follow7 the straight
compass course by way o f the Sandwich Islands.
Monterey or San Francisco, therefore, may be regarded as the great
half-way house on the commercial road between Pacific America and the
Indies ; and this route as the commercial circle o f the Pacific Ocean.
It will be observed that Astoria, in Oregon, occupies by no means such
a central position w7ith regard to the commerce o f the world.




W here shall the Railroad begin on the Atlantic ? etc.

595

The line, commencing on the Pacific coast midway between Monterey
and the mouth o f the Columbia river, and drawn to Philadelphia, I have
called the dividing line o f travel between Monterey and the mouth o f the
Columbia. It is so drawn through the country, that any given point on it
is equidistant from those two places, so that a traveller who starts from any
point to the south o f this line is nearer to Monterey ; but if he start from a
point to the north o f it, he is nearer to the mouth o f the Columbia.
TABLE OF DISTANCES FKOM THE ENGLISH CHANNEL.

T o Boston (shortest navigable distance for steamers)........................................ miles
Boston, via Albany and the lakes, to Chicago..............................................................
Chicago, by an air line, to Columbia river.....................................................................

2,670
1,000
1,650

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

5,320

From English Channel, via Philadelphia and Baltimore, to Monterey....................

5,100

“
“
“

English Channel to Charleston, S. C., (by water).............................................
Charleston to Memphis (railroad).........................................................................
Memphis to Monterey (air line)...........................................................................

3,360
510
1,500

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

5,370

It thus appears that Monterey is quite as central to the European travel
as is the mouth o f the Columbia, with this advantage, how ever: the lakes
are frozen up half the year, when the Columbia route is impassible ;
whereas if the travel from Europe come as far south as Philadelphia, Mon­
terey then is the most convenient port. In truth, Chicago is quite as near
to Monterey as to the mouth o f the Columbia.
While Monterey is, therefore, altogether as convenient a halting-place
as the Columbia river for travellers from any part o f Europe to China, it
has decidedly the advantage with regard to the travel from three-fourths
of the States o f the Union, from Brazil, the West Indies, and even from
the Pacific ports o f South America.
Were a railroad constructed from Memphis to Monterey, passengers
from Chili, Peru, & c., on arriving at Panama, would, instead o f continuing
on in the Pacific to California, save two or three days by crossing over to
Chagres, taking a steamer thence to New Orleans, and up the river to the
Memphis and Monterey railroad, and so across the country.
For this reason, therefore, the route to China, via Charleston or New
Orleans, to Memphis, and thence to Monterey, would, for all the travel to
the south o f us, be hundreds o f miles nearer than the route up to Chicago
and thence to the Columbia river ; nearer for most o f the States o f the con­
federacy, and as near for the rest.
The harbors o f San Francisco and Monterey are good, and easy o f in­
gress and egress. The mouth o f the Columbia is difficult both o f in­
gress and egress. In 1846 Lieut. Howison, one o f the most accomplished
seamen in the navy, was wrecked in attempting to get to sea from that
river. He chartered another vessel for himself and crew to get to Monte­
rey, 600 miles; and though in sight o f the open sea, and drawing but eight
feet o f water, he was detained there sixty-two days, waiting for an oppor­
tunity to cross the bar. He was wrecked where the Exploring Expedition
found water enough to float a 74.*
* “ The Cadboro’ anchored in Baker’s Bay (mouth o f the Columbia liver) November
17, 1846, where we remained pent up by adverse winds and a turbulent sea on the bar




596

A Railroad from the Atlantic to the Pacific :

Vessels in distress off the mouth o f the Columbia river have been baffled
in their attempts to enter, and finally, after sundry trials, have found them­
selves compelled to run down to the ports o f California, where they are
sure o f getting an anchorage.
The railroad to the Pacific should terminate at that port which presents
the most advantages for our future dock-yard and great naval station on the
Pacific. That port is not the Columbia river, for the reasons just stated.
Moreover, the mouth o f that river will be overlooked by the English from
the excellent ports o f Vancouver’s Island and the Straits o f Fuca. W hile
our crippled vessels should be standing off and on, waiting to get in, they
would fall an easy prey to inferior British cruisers, which in safety could
watch their movements from the Straits o f Fuca.*
Monterey and San Francisco are beyond the reach o f such surveillance ;
moreover, they are in a better climate, and are midway our line Pacific
coast. They are in a most commanding position. During the naval op­
erations in the Pacific against Mexico, our men-of-war beat out o f the harbor o f San Francisco in a gale o f wind, so easy is it o f ingress and egress.
The harbors o f California are convenient for, and are even now visited
by, our whalemen. Columbia river is not. There is a fleet in the Pa­
cific o f 300 vessels, engaged in this business, manned by six or eight thou­
sand o f the best seamen o f America.
In money and in kind they expend, annually, among the islands and ports
o f the Pacific, not less than one million o f dollars. The facilities which a
railroad to California would offer in enabling them to overhaul, refit, and
communicate with friends and owners in N ew England, would attract this
whole fleet there ; and this vast amount o f money would be expended in
our own country and among our own citizens, instead of being disbursed,
until the 18th January. Her master, an old seaman, had been navigating this coast and
river for the last eighteen years, and his vessel drew but eight feet water; yet in this long
interval o f sixty-two days he could find no opportunity o f getting to sea safely. This is,
in itself, a commentary upon the dangerous character o f the navigation o f the mouth of
the Columbia.” — Report o f Lieut. N iel M . Howison, XJ, S. N ., House o f Reps., 30th
Congress, 1st Session, M is. No. 29.
“ I lay at anchor in Bakers Bay, some three hundred yards inside the Cape, from N o­
vember 17, 1846, until January 18, 1847; and although we were unfortunately destitute
o f barometer and thermometer, we had a good opportunity o f observing, during these two
winter months, the wind and weather. The heavens were almost always overcast; the
wind would spring up moderately at east, haul, within four hours, to south-east, increas­
ing in force and attended with rain. It would continue at this point some twenty hours,
and shift suddenly in a hail storm to south-west; whence, hauling westwardly and blow­
ing heavy, accompanied with hail and sleet, it would give us a continuance o f bad weather
for three or four days, and force the enormous Pacific swell to break upon the shore with
terrific violence, tossing its spray over the tops o f the rocks, more than two hundred feet
high. A day o f moderate weather, with the wind south-east, might succeed this; but
before the sea on the bar would have sufficiently gone down to render it passable, a re­
newal o f the south-easter would begin, and go on around the compass as before.” — lb.
* “ A very snug harbor has, within a few years, been sounded out and taken possession
o f by the Hudson’s Bay Company on the south-eastern part o f Vancouver’s Island. They
have named it Victoria, and it is destined to become the most important British sea-port
contiguous to our territory. Eighteen feet water can be carried into its inmost recesses,
which is a fine large basin. There is, besides, pretty good anchorage for frigates outside
the basin. T he company are making this their principal shipping port; depositing, by
means o f small craft, during the summer, all their furs and other articles for the English
market at this place, which is safe for their large ships to enter during the winter season.
They no longer permit them to come into the Columbia between November and March.”
— Lieut. Howison’ s Report.




W here shall the Railroad begin on the Atlantic 1 etc,
*

597

broadcast as it now is, over that wide ocean. As long as there are break­
ers and a bar at the mouth o f the Columbia, there can be in that harbor
no attraction for our whale ships.
The coast of California is a favorite place o f resort for the whale. They
come there to breed.
The chart has two small circles o f a radius o f 3,000 miles each : one
drawn from the mouth o f the Columbia,*as a centre, the other from Mon­
terey. The latter, from its facilities o f ingress or egress, is in a geograph­
ical position to command the trade with all places within these circles, ex­
cept, perhaps, the ports o f British and Russian America. For six months
o f the year, the difficulties in crossing the bar o f the Columbia would place
these places nearer to the ports o f California by days, if not by weeks and
months.
The chart also exhibits the geographical dividing lines o f travel and
o f commerce. The broken line, through the island o f Japan, shows the
dividing line o f travel from London, by the overland route, to India, and
from London through the United States, by railroad from Charleston via
Memphis, to Monterey. The nearest route to London, from all places to
the east o f this line, is through the United States ; but from all places to
the west o f it, the nearest route is through the Red Sea and across the
Isthmus o f Suez. These lines, as before stated, are all drawn without re­
gard to time. They are mere geographical lines, intended to represent
distance in nautical miles. Were the railroad across the country comple­
ted, and the lines drawn with regard to time, they might probably be ex­
tended a thousand miles or two further to the westward ; for much o f the
distance to be overcome by the overland route is by water, and there is
much less railroad travelling by that route than there would be by a rail­
road across the United States.
A passenger can accomplish as many miles in two days by railroad as
he can in a week by water.
The other broken line shows the dividing line o f travel between Lon­
don via the overland route, and this part o f the country via the Atlantic
and Pacific railroad.
The continuous and most westerly line shows the dividing line o f com­
merce between England, on the one hand, and our Pacific ports on the
other, supposing the English ships to pass, as they have to do, the Cape o f
Good Hope.
This line exhibits many interesting facts, consequences, and significa­
tions. Among them, it shows that the United States are now in a position
which will soon enable them, geographically, to command the trade o f the
entire east; and that, commercially speaking, our country is in the centre
o f the people o f the earth, and occupies a position for trade and traffic with
them which no nation that ever existed has held.
Hitherto in all parts o f the world, except Europe and the W est Indies,
the ships o f the two great competitors on the ocean have met on barely
equal terms. An American and a British ship met in India, China, New
Holland, the islands o f the Pacific, or the ports o f South America. One
was owned in London or Liverpool, the other in some one o f our Atlantic
ports. T o reach home, they both had to pursue the same route and sail
the same number o f knots. But now that Oregon and California are
Americanized, all o f these ports are nearer; and the chief among them, as
Bombay, Calcutta, Singapore, the ports o f China, Japan, New Holland,




598

A Railroad from the Atlantic to the Pacific:

Australia, Polynesia, and the islands o f the East, many thousand miles
nearer to the United States than they are to England.
TABLE OF DISTANCES B Y SEA.

T o England.

From
“
“
“
“
“
“
“
“
“
“

Persian Gulf......................................... miles.
Bombay...........................................................
Calcutta...........................................................
Singapore.,.,..................................................
Canton............................................................
Shanghae........................................................
Jeddo................................................................
N ew Guinea.................................................
North-west point o f N ew H olland...........
North-east
“
“
“
............
N ew Zealand.................................................

11,300
11,500
12,200
12,300
13,700
14,400
15,200
14,000
11,800
13,500
13,500

T o ports o f Californio.

10,400
9,800
9,300
7,400
6,100
5,400
, 4,500
6,000
7,800
6,900
5,600

From Memphis, a centro point in the immense valley o f the West, and
one on the great natural and national highway from the Gulf to the Lakes,
the distance via Panama and the Sandwich Islands (the usual route) to
China is 11,700 miles ; but by the proposed railroad to Monterey and the
great circle, thence to China, the distance is but 6,900 miles.
A railroad across the country, in this direction, would therefore, it may
be observed, shorten the present and nearest practicable route to China
near 5,000 miles ; it would place us before the commercial marts of six
hundred millions o f people, and enable us, geographically, to command
them. Open the needful channels, unbridle commerce, leave it to the
guidance o f free trade, and who shall tell the commercial destiny o f this
country!
Rightly and wisely profiting by the advantages which are now opening
to us, how long will it be before our sturdy rival will cease to be regarded
as such, and when we shall have no competitor for maritime supremacy
among nations!
From Monterey to Shanghae is 5,400 miles ; midway between the two,
and right on the way side, are the Fox or Eleoutian Islands, with good
harbors, where a depot o f coal may be made for a line o f steamers ; for
the establishment o f which, I understand, Mr. King, the Chairman o f the
Committee o f Naval Affairs in the House o f Representatives, is preparing
a bill.
Coal has been found, on the surface, at San Diego and San Francisco,
and Vancouver’s* or Quadra Island. Formosa and the Islands o f Japan
abound with the most excellent qualities o f this mineral. Supposing the
vessels to be put upon this line to perform not better than the “ Great
Western,” and that the railroad from Charleston, on the Atlantic, be ex­
tended to Monterey, on the Pacific, you might then drink tea made in
Charleston within the same month in which the leaf was gathered in
China.
The passage from Shanghae, allowing a day for coaling at the Fox Isl­
ands, can be made in 26 days to Monterey, and thence to Charleston by
railroad, at the English rate o f 40 miles an hour, in less than three days.
Hydrographical surveys and topographical reconnaissances may show
San Diego or San Francisco to be the best terminus for the great railway.
I have spoken of Monterey merely from its geographical position. San
* Excellent coal has been found here.

on board at a mere nominal price.




It is used by the English steamers, and is put

W here shall the Railroad begin on the Atlantic 1 etc.

599

Francisco is a better harbor, and has, in its rear, a more fertile country.
But whichever o f the three be adopted, the selection will not alter the
point I have been endeavoring to establish.
,
A railroad from Charleston to Tennessee is already completed. Mem­
phis is above the yellow fever region o f the Mississippi valley. It is on
the great river, and in a central position. A road thence would cross the
head waters o f the Arkansas, the Rio Grande, and the Colorado. It would
facilitate the overland trade with Mexico, and perhaps be the principal
channel o f foreign commerce for her people.
Large amounts o f bullion are annually shipped from Western Mexico,
in British ships o f war, for England. Owing to Jhe route, and the uncer­
tainties as to the time when a vessel o f war may come for it, it may be
assumed that this bullion does not reach England for eight or ten months
after it is taken from the mines ; during all o f which time it is o f course
idle. Moreover, it pays a freight o f 2 per cent to the British officer and
Greenwich Hospital for conveying it in one o f Her Majesty’ s vessels. Now
all this bullion would come, as fast as it is taken from the mines, over this
road, and would perhaps be coined in our own mints instead o f those of
Europe.
This route, as compared with one to the Columbia river, is most conve­
nient for a largo portion o f the citizens of Pennsylvania, all o f Delaware,
Maryland, Ohio, Indiana, Illinois, Missouri, and all of the States to the
south of them ; and, considering the present routes o f travel, quite as con­
venient to the people o f New England as is the proposed route to the Co­
lumbia.
Besides, this last will be obstructed by snow and ice in the winter, the
other never. Therefore California offers the most convenient terminus for
the commerce and business o f all the States, and the most desirable one
for the purposes o f the general government.
There is a line o f steamers already in operation from Valparaiso, Lima,
Guyaquil, and the intermediate ports to Panama.
Under Mr. King’ s bill o f the last Congress, contracts have been made
for another line to connect with this, and to run to the mouth o f the Co­
lumbia, touching at Monterey or San Francisco. From Panama to China
via Monterey is 8,600 miles, and from Panama by water to Monterey is
3,200 miles. Thus it will be observed that the steam communication has
already been provided for more than one-third o f the distance from Pana­
ma to China.
A railroad to Monterey, and a line of steamers thence to China, would
place our citizens only half the distance that they now are, and without
such railroad must continue to be, from Japan and the Celestial Empire.
The most equitable location o f a great national railway, to be con­
structed for the convenience o f all the States, from the banks o f the Mis­
sissippi to the shores of the Paeific, would be along the line which divides
the United States territory west o f the Mississippi into two equal parts.
The main trunk would then be in the most favorable position for receiving
lateral branches from all o f the States hereafter to be formed out o f that
territory. But the |>orts on the Pacific, and the character o f the route, do
not admit o f such a location.
I have endeavored, as you suggested, to determine the geographical
centre o f the present States o f the confederacy.




600

A Railroad from the Atlantic to the P acific: etc.

By one method, Memphis is as near that centre as may be ; by the
other, it falls in Kentucky.
A line drawn diagonally across the States, from the north-east corner
o f Maine to the south-west corner of Texas, intersects another from South­
ern Florida to the north-west corner of Iowa, a few miles from Memphis ;
and Memphis is just about half-way between the mouth o f the Mississippi
and the head o f the Lakes, counting from Lake Michigan.
But if we take two other lines : one dividing the territory comprehended
within the States from north to south, the other from east to west, they
will cross each other in Kentucky, and about midway a line between
Nashville and Louisville, These are the two geographical centres o f the
States o f the Union.
Now, if we take a point about midway between Memphis and Louis­
ville, we shall have what, for practical purposes, may be called the terri­
torial centre o f the States o f the Union. I have marked this point A on
the chart. It is near the mouth o f the Cumberland. The centre o f popu­
lation is about the same parallel, but considerably to the eastward.
The great circle from this territorial centre to San Francisco, crosses
the Mississippi just above the mouth o f the Ohio, and crosses the edge of
the Kansas valley. The distance o f San Francisco from the Mississippi
at this point, is 1,560 nautical, or 1,760 statute miles.
W ere the country equally favorable, this would certainly be the most
advantageous, because it would be the most convenient route for all the
States. It will be the business o f the topographer, the engineer, and the
hydrographer on the Pacific, to determine the most feasible line and the
precise location o f this great national highway.
There is, however, another light in which this subject should be consid­
ered. A railroad to the Pacific is eminently a military road ; and in the
selection o f a route, and a terminus for it, an eye should be had to its
bearings as well to the common defence as to the general welfare.
Vancouver’s Island abounds in excellent harbors. Coal o f superior
quality has recently been found there, cropping out in great quantities on
the surface. The English steamers on that coast use it, and pronounce
it excellent. The Cormorant procured it at 4s. per ton, and took speci­
mens o f it to England. It is so accessible that the Indians mine it, and
deliver it on board the Hudson’s Bay Company’ s steamers at a mere nomi­
nal charge.
That island is in a position which enables the power that holds it to
command the Straits o f Fuca and the mouth o f the Columbia more effectu­
ally, even, than Cuba, in the hands o f a rival, would control the mouths o f
the Mississippi. By treaty, Vancouver’s Island belongs to the English.
In view of these facts, no one with a military eye in his head would think
o f fixing the terminus o f the great national highway, through which we
aim to control the trade o f the East, under the very guns o f our rival. Van­
couver’s Island enables England to command both the Straits o f Fuca and
the mouth o f the Columbia.
The mouth of that river can never become a naval station o f much im­
portance to us. It is too near Vancouver’s Island, which is to be the
Portsmouth o f England in the Pacific. Its approaches are exposed and
difficult, its egress dangerous. It is too far from the ports o f California,
and the coast to be defended.
San Francisco will probably be the centre o f our naval operations there.




601

Commercial Cities o f Europe : Paris.

It is in a central, and therefore a commanding position. It offers many fa­
cilities which Astoria does not. Suppose Cuba belonged to Great Britain,
and we were just beginning with a system o f national defences for our At­
lantic coast: it would be quite as reasonable to expect our ships from Pen­
sacola to pass Havana and protect the coasts o f New York, in a war with
England, as it would be to expect them to come from the Columbia river,
overlooked as it will be by the English from Vancouver’s Island, and give
security to the ports and coasts o f California.
Our Pacific coast is about 1,000 miles in length. San Francisco is
midway between its southern boundary and Vancouver’s Island, and, in a
military point o f view, is in a position to command eight hundred o f the
thousand miles ; whereas Puget’ s Sound and Columbia river, owing to the
close proximity of Vancouver’s Island and the dangerous bars o f the river,
are incapable o f commanding so much as their three marine leagues each.
Respectfully, &c.,

M.

F.

M aury .

Hon. John C. C alhoun , U. S. Senate Chamber.

Art. I I I . — C O M M E R C I A L C I T I E S OF E U R O P E .
N o. V.— P A R IS .
L O C A T IO N — D IS T A N C E S FR O M O T H E R E U R O P E A N C I T I E S — C O M M E R C IA L H I S T O R Y — A N N U A L C O N S U M P T IO N
OF W I N E , P R O V IS IO N S , F R U I T , E T C .— A R T I C L E S OF E X P O R T A N D I M P O R T — P O P U L A R I T Y OF P A R IS IA N A R ­
T IC L E S — A R T IC L E S

EXPORTED

IN

1837

AND

1848—

C O M M E R C E OF P A R IS W I T H O T H E R C O U N T R IE S —

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

1836-8— W IN E

D E P O T D E L I V E R Y — IN S U R A N C E

R E G U L A T I O N S — T H E F IN E A R T S — L E C T U R E S — C O M M E R C IA L S C H O O L S — C O M M E R C IA L H A L L S — M A R K E T S
— T H E M A R N E , S E I N E , E T C .— P O S T -O F F IC E — P O P U L A T IO N OF P A R IS — O C C U P A T IO N S OF T H E I N H A B I T A N T S
— P O L IC E — R E V E N U E , E T C .

P akis , the capital o f France, and, except London, the most populous
city in Europe, is situated on the pleasant banks o f the river Seine. It
is fifty-four miles from Havre, and distant from the following places as
given in th e ta b le —
Direct
line.

From
“
“
“

London ...miles.
Brussels.............
Amsterdam ......
B erlin................

77
60
97
197

By travelling
conveyances.

96
75
120
245

From
“
“
“

Vienna... .miles.
St. Petersburgh.
R o m e ................
Madrid..............

Direct
line.

By travelling
conveyances.

233
487
248
236

290
600
350
300

This city has adopted a ship, the symbol o f commerce, for its coat oi
arm s; yet, though a large commercial city, it cannot rank with either
London or Marseilles, nor has it such extensive manufactories as Man­
chester. The character o f the inhabitants o f Paris is different from the
usual character of the French. They dash out into wild and speculative
schemes like the American and English people, nor follow that sure
and quiet industrial course which characterize the French as a nation ;
and, if not insuring them immense wealth, at least preserving them from
the ruinous losses that ever accompany these hazardous risks. This city
may be considered as the heart o f the European continent. It is the cen­
tre o f attraction for the globe ; the place where assemble the distinguish­
ed and celebrated, the gay and the brilliant, from every portion o f the




002

Commercial Cities o f E urope: Paris.

world. It is the seat o f the arts and sciences, and marches at the head
o f civilization.
When Cissar invaded Gaul, (France,) Paris was a very small city, built
by a barbarous and warlike nation, and known as Sutice, which name it
bore until the fourth century, when it received its present name. Paris
appears to have made but slow progress in civilization, for we see nothing
definite about it until the twelfth century.
In 1121, Louis (the Large) granted a monopoly to an association o f mer­
chants for importing sundry articles into the city, in consideration o f their
paying him a small sum upon each. This appears to be the first duty
laid upon goods; and this means so fettered the commerce, by confining
it to a few, that it advanced but slowly. In 1284, Philip (the Hardy)
somewhat relieved it o f its encumbrances by breaking up this league.
From this period the commerce o f the city assumed a different1aspect; it
had received a fresh impulse, a new being, and ships filled the harbors of
the town. Stores and shops o f every description grew up like magic, and
business assumed that hum and bustle that ever indicate the existence o f
enthusiastic energy. Hotels were established, theatres were built in an
expensive style, costly goods shone through the clear windows o f the
stores, and artisans o f every description were busily pursuing their voca­
tions. In 1716, the Bank o f France was created by law, and a fresh
push was given to comm erce; the bank discounted largely, Spanish dol­
lars began freely to be circulated, and the citizens to grow rich and ex­
travagant ; yet still the fine arts advanced and prospered. The taste of
the people began to refine and improve, and a corresponding delicacy was
evinced in the materials o f apparel and ornament of every description.
Laces o f the finest and costliest character were exposed for sale, artificial
flowers o f rare beauty and every hue, glasses cut and moulded into every
shape that human ingenuity could devise, wilh confectionary o f the most
inviting description, met the eye in the principal streets and promenades.
Companies were formed to trade with Asia, one under the name o f the
East India Company, and wealth poured into the country.
In 1786, the wall which encircles the city was built, while its currency
was at its highest flow. But a revulsion was to take place. The tide of
affairs had swelled too high, and a corresponding ebb was the result. The
Bank o f France, which had been conducted with no management and
foresight, failed in the year 1800; and, in its fall, the resources o f the
people were likewise prostrated. But the gloom which prevailed for a
season passed away like a cloud. The energy o f the people again ani­
mated itself, and things resumed their former aspect, and continued until
1814-15, when the star o f Napoleon fell from its zenith, and government
underwent a total reorganization. Since that time the commerce o f Paris
has been continually advancing, (save a slight check it received in 1830,)
until it has reached its present state o f importance.
The consumption of the necessaries and luxuries of life in Paris is al­
most incredible, and is in itself a little commerce. The great quantity o f
luxuries exhibited by our table can be readily accounted for by the num­
ber o f strangers that are constantly in the city; and, being generally
possessed of liberal means, are led into extravagance by the pleasing in­
ducements afforded to them. This estimate was made in the year 1836,
when Paris had only 800,000 inhabitants. It now has upwards o f a




Commercial Cities o f Europe : Paris.

603

million, and consequently its consumption must be a third more than exhibited by the following table :—
ANNUAL CONSUMPTION OF PARIS.
G allons.

W ines.............
Cordials.......... ......
Cider................
Vinegar........... ......
Beer................ . . . .

Oxen.............. ..........
36,910 Cows.............. ........
Calves............. .........
17,024 Mutton........... .........
110,621 Lambs............ .........

H ead.
7 1 ,6 3 4
1 6 ,4 3 9
7 3 ,9 4 7
3 6 4 ,8 7 5
8 6 ,9 0 4

Lbs.

Sugars..............
Butter...............
Eggs.................
Cheese.............
R aisin s............

1,107,943
10,677,873
4,572,424
1,180,421
727,129

Besides, there is the grain, nuts, and bread, which are not given in this
table. W e will remark, that most o f these items mentioned come from
Vienna, Creuse, Corrize, Maine, the lower Loire, and from Vendee.
The amount o f the exportation o f Paris surpasses that o f many king­
doms. It embraces about $50,000,000 annually. It carries on business
with the whole world. All ornamental articles to adorn, and delicate
apparel to wear, are obtained at this city. Coming from Paris gives them
a stamp and character, and they readily command a sale.
There are numerous connections formed by the merchants o f Paris with
houses in all parts o f the world. They make their returns by bills o f ex­
change ; or, sometimes, they keep an almost even balance, by furnishing
the specific articles o f their respective countries to each. Paris has to be
supplied from foreign ports with sugar, coffee, tea, spices o f all kinds, in­
digo, and drugs. With the United States, Mexico, Brazil, Buenos Ayres,
Monte Video, Chili, Peru, and ancient Colombia, there is a great inter­
change o f articles, as all o f these countries have a different climate and
nature from that of Paris, and can supply it with many o f their products,
which she needs. On the other hand, Paris affords them the luxuries o f
life, her wines and her grapes, and gives the models o f elegance and
fashion, for which she is so renowned. Her trade is likewise spread over
Europe, Asia, and Japan, and even extends to Australasia and Africa.
W e will give, in the following table, the principal articles that are ex­
ported from Paris, as reported in 1837 ; but, from the increased demands
o f these various articles from all parts o f the globe, we believe that they
have increased three-fifths since that year to the present. We will give
the table for 1837, as reported, and also make the calculation of the threefifths supposed ratio o f increase :—
18 17.

Fire arms.................................
Daggers and swords..............
Models o f impression............
Military caps...........................
Hats..........................................
Hair brushes............................
Cutlery......................................
Bottles o f ink and varnish...
Instruments o f music............
Scientific instruments.............
Cases o f medicines................
Ornamental mats....................
Artificial flowers.....................
Pieces o f music......................
Models o f arts and sciences..
White and colored paper.....
Paper paintings......................
Ruffles and collars..................




168,000
1,360,000
131,500
151,000
158,000
142,000
1 1 0 .0 0 0

105,000
134,000
107.000
156,000
2,500,000
1,060,000
125,000
772,000
248,000
546,000
326,000

1848.

272,800
2,176,000
184,100
241,600
272,800
227,200
175,000
168,000
194,400
171,200
249,600
3,250,000
1,696,000
200,000
1,236,200
396,800
873,600
521,600

604

Commercial Cities o f Europe : Paris.

Muffs and boas......................
Skins prepared for mantles.
Pens.........................................
Porcelain and pottery...........
Chemical productions...........
Ornamental tables.................
Pieces o f fine linen..............
“
Iaines......................
“

s ilk ...............................

“

cotton.....................

900.000
1.600.000
205.000
1.110.000
1.088.000
410.000
1.237.000
1.018.000
8,000,000
820.000

1,440,000
2,560,000
268,000
1,776,000
1,720,800
656,000
1,979,200
1,628,800
12,800,000
1,312,000

Besides the eighteen articles o f ornament manufactured by the hand, per­
fumery, & c., amounting in the aggregate to 7,110,000 pieces.
This city likewise contains the most beautiful coaches, workmanship
o f every metal, and in every variety— chandeliers, lamps, candlesticks,
flower vessels, artificial representations o f beasts and birds, singular no­
velties and designs, canes, umbrellas, military equipments, and the richest
fashions in Europe. There is a great competition in trades and profes­
sions o f every description ; and there is confusion, practical business, ge­
nius and elegance, ever giving an air o f freshness and novelty to the
capital. It has no natural traits ; its peculiarities exist not by nature, but
by art. There is a rule for every movement, an a u fa it for every action,
until the natural man is swallowed up amidst artificial creations. Yet
these graces, varieties, fooleries, or whatever you may call them, do not
interfere with the business relations, for its workmen are the most finish­
ed in the world, as may be proved by the demand, from every quarter, for
Parisian articles. Every trade and profession in Paris is branched out
into many distinct parts, which are carried on separately, without any
blending or confusion. There is a cheerful spirit evinced by every class
and society; from the nobleman to the laboror, you see a calm, evident
satisfaction in their respective avocations. The ready bow and quick
compliment, when they meet, are never neglected ; they are the tributes
due to civilization, and the laws o f society demand their performance.
W e can scarcely account for the extent and trade o f Paris, as it has but
slender advantages for commerce, which is always the basis for the wealth
o f a city, and the Seine admits ships, but o f small burden. In fact, Havre
may almost be said to be the port o f Paris, as most o f its merchandise is
landed there, at first from the larger ships, and then taken by smaller crafts
to Paris. The residence o f the crowned monarchs, their courts, the es­
tablishment o f the bank, no doubt, all tended to elevate and enrich it.
Paris is the great reservoir into which all the surrounding cities pour
the tide o f their rich es; this is the grand market, for it is at that place
alone o f all France that merchants will buy. Fame has gone abroad, and
it has received a name ; the merchant wishes to gratify his curiosity, while
prosecuting his business, and he bends his course to that “ city o f cities.”
It is for these reasons that the merchant from foreign portions buys in the
market o f Paris articles fabricated at Mulhausen, Montpelier, Tavarre,
and Thiers, the sweet wines o f Burgundy and Bordeaux.
The facilities o f communication are so great, that what grows and is
manufactured in one part may almost be said to grow and be manufactur­
ed at another, prices being merely nominal for transportation, and dis­
tances being overcome almost in a moment by the perfection o f steam
machinery. T o enumerate all the articles that are brought from the in­
terior to Paris would be foreign to the design o f this article ; we can only




Commercial Cities o f Europe : Paris.

605

give the chief. They consist Mostly o f fine silks o f every description,
brought principally from Lyons and Marseilles ; laines and cottons, from
the factories o f every part o f the Republic ;* drugs and ornaments ; ves­
sels o f gold and silver ; wines and cordials ; toys o f wood and o f ivory ;
with a vast quantity for the table and culinary department. Cloths are
likewise sent to this city in great quantities from the large factories, equal,
and by many thought to be superior, to the best English cloths. Grain,
poultry, oil, and vegetables, likewise float to this centre o f attraction.
W e will now look at Paris in a new and higher sphere. W e will show
her great resources, we do not mean to say natural advantages, which
she does not possess ; but her acquired wealth, which is the broad basis
o f commercial success.
Paris, except London, is undoubtedly the first banking city in Europe.
It is here where assemble, from every portion o f the globe, the bankers
to consult, debate, and contract with each other reciprocal obligations, by
agreeing to an exchange o f drafts, and to hold a general congress. They
come from Spain, Germany, Austria, Prussia, Italy, Denmark, Holland,
Portugal, Norway, Sweden and Turkey ; from the two Americas, and
some from Asia. This is the most suitable place for them to assemble—
throwing aside all o f its attractions, which excel all Europe en masse, and
viewing it only in a business relation. The number of strangers that visit
Paris are infinitely greater than assemble at London ; consequently, there
have to be larger amounts drawn on her bankers through this source.
There is in the city a very large number o f banking-houses. These
houses vary in their business and their capital. Some have immense capi­
tal and resources ;— they being considered safe, the large capitalists o f the
nation, as well as from other countries, deposit their funds in their hands,
sharing with them alike the increase which is made by the bankers’ ef­
forts. Whenever government conceives the design o f building large edi­
fices, constructing bridges, and canals, and railroads, she borrows from
these bankers ; and often o f them to purchase resources to carry on a war.
They advance largely to merchants, sometimes requiring a deposit of
goods, but more often upon their own individual credit; and give letters o f
favor and introduction to every part o f the Continent, or wherever they
have business connections. They contract for the bankers at a distance,
with government, and are entrusted by strangers with all business where
any great amount is to be consigned. They who are going abroad, go to
the banker to obtain drafts on the place o f their destination ; and the crowd
that is continually flocking to Paris, go to the banker to receive funds upon
their drafts, or bills o f exchange.
It would be impossible, in the space o f this article, to give a specific
account o f the different bazaars, the large and massive buildings, which
throng every part of Paris, and are devoted to commercial transactions ; a
proper description o f these would, o f themselves, fill a volume. Let it
suffice, that as far as tasty arrangement, and finished, graceful execution
is concerned, they surpass any in the world. There are some buildings
that no doubt are much more extended, and are o f a greater co st; yet they
are more grosses, make no signification o f their cost in their structure,
* A s most o f this article consists o f a translation o f the French report, made by M es­
sieurs Cortambert and Wantzel, we have taken the liberty, as France is no more a king­
dom, to alter that word, whenever applied by them, to one which bears a more relative
signification.




606

Commercial Cities o f E urope: Paris.

and have nothing intrinsic in themselves to strike attention. W e can only
glance at the great Bank of France. T o give an account o f that immense
colossal institution— to give an accurate description o f the manner in which
its operations are carried on, would embrace an article. W e cun only
say, that it is the soul of the commercial existence of Paris, and had within
its vaults, in 1838, 300,000,000 pieces o f coin, besides having 100,000,000
francs’ worth o f goods packed away in its merchandise departments.*
There are various other departments o f commerce : persons who sell, on
commission, various articles entrusted to them from merchants or factories
from a distance ; these receive usually from 4 to 5 per cent, the per cenlage
varying with the article and its amount. There are others in a smaller
sphere, who sell goods and property o f every description, effect insurance,
and advance on merchandise and furniture, & c. &c., that are to be offered
for sale, they having them in their possession. These are called brokers
and auctioneers. During the awful crisis o f the years 1836, 1837, and
1838, the commerce o f Paris underwent a visible decline. There became,
at one time, from the badness o f the currency and want o f confidence,
produced by repeated failures, an almost total suspension in business. A
panic seized upon the capitalists, and they kept their funds enclosed in
their vaults, which before had been let out to the community, to advance
and keep afloat their respective 111161-6813. It will be seen, by the follow­
ing exhibit o f the exportations for 1836, 1837, and 1838, the great de­
cline :—
T he exports in 1836 amounted t o ............................................................
“
1837
“
............................................................
“
1838
“
......... ..................................................

134,647,000 francs.
94.065,000
“
51,805,000 “

Exhibiting in two years a depreciation o f almost two-thirds in its ex­
ports. But this prostration continued but a short time after 1838 ; for, in
1839, we find that confidence had been restored, money was easy, and bu­
siness o f every kind again resumed its former briskness. Paris has many
depots at which the merchandise o f the city is received. From its extent.,
it is best that it should have them scattered as they are, at different points,
making it much more easy for their reception and delivery. W e will only
speak particularly o f one, and that is the great “ Wine Depot Delivery,”
where all the oils, vinegars, and wines (the chief articles o f export) are
delivered. It is a vast and magnificent building, around which there is
always a large array o f carts and drays, wagons and vokures. Some are
engaged in weighing the different vessels which contain them, which show
many grades of size, from the vial to the pipe ; others are packing them in
the carts and wagons ; and others, with their paper and pen, are keeping
an account o f the respective parcels. All goes on systematically and bu- ■
siness-like amidst bustle and confusion. In this establishment there are
usually 700,000 vessels o f wine, besides large masses o f oil and vinegar,
covering an immense space at the depot. In Paris there are a great num­
ber of companies o f insurance, each having a particular sphere and pur­
pose ; but it is our design only to relate concerning those having a con­
nection with mercantile pursuits, not touching upon the duties o f those
companies whose province it is to effect insurance upon lives and property.
There are three companies o f maritime insurance at Paris, who insure
* For the latest accounts o f the condition o f the Bank o f France, see our usual department
o f “ Banking, Finance, and Currency,” in the last and present number o f this Magazine.




Commercial Cities o f E urope: Paris.

607

upon the ship or her cargo, or both, at the discretion o f the insurer;
whether upon the seas or the rivers o f the interior ; whether laying at
harbor, or bound to some foreign destination. As this subject must be
very interesting and useful to all engaged in commercial pursuits, we will
give a short synopsis o f the leading features o f the marine policy o f insu­
rance at Paris. The insurers bind themselves to be answerable and bona
fide accountable for all risks and losses sustained by the articles insured,
by tempests, sea, shipwreck, the throwing overboard o f articles to preserve
the ship in danger o f shipwreck by storm; against the forced change o f
route, in avoiding dangers ; against fire, molestations o f pirates, and all the
general accidents o f the sea. But it must be remembered that the risks
o f war are not charged upon the insurer, nor is he at all responsible, un­
less there is a special provision in the policy. The insured, if there be a
war, or a probability o f one during the voyage, usually makes with the in­
surer a specific agreement, that he should be responsible for all the losses
sustained by captures, reprisals, engagements with the enemy, arrests and
damage sustained by hostilities, all injuries sustained from vessels known
or unknown, and all the accidents and fortunes of war. But the insurers
are exempt from responsibility if an article shipped sustains a damage o f
itself; that is, some inherent defect, whereby it loses its value from being
carelessly packed, or not packed in a proper condition.
The insurer is likewise not responsible for captures and confiscations,
if the articles are o f a contraband and smuggled character.*
For a general insurance for a term, without reference to a particular
route or destination, the insurers are not in any way responsible for losses
in any manner sustained upon the Black Sea or the Baltic, or in any o f
the seas north o f Dunkirk, between the first o f April and the first o f O c­
tober. The risk, for which the insurer is responsible, commences the
moment of the embarking o f the ship, and ends directly it touches the
port o f its destination.
Should.the goods or ship be lost after her reaching port, from the circum­
stance o f their not having been at once removed by the owners, the insurers
are not responsible. I f the ship be destroyed by lightning, which is looked
upon as the act o f God, the insurer is not liable. If the vessel is insured
to go to a certain place, and, in going to that place, she make a devia­
tion, even ever so little, to go into another port, or stop in another port not
in the direct course, the insurance is forfeited, though the deviation be not
the cause. I f an assurance be effected on ship and cargo for a certain
voyage, and it be ascertained that there is a loss, if the insured insists
upon payment o f the policy, he has no right to the goods that may be
saved, or to the amount o f them when sold ; but all belong to the insurer.
The proof o f the loss o f a vessel does not depend solely upon the time she
has been absent, though that may be given to strengthen other testimony.
The arrival o f other ships to the port to which the one insured is des­
tined, after the time it should have arrived; the circumstances o f a tre­
mendous storm occurring when it was on its voyage, of her being seen in
* Even if the insurer effects insurance upon articles that are not permitted to be either im­
ported or exported from the port where lie gives the policy, the insured, if he loses those
articles in any way, whether by the general dangers o f the sea, tempest, fire, pirates, &c.,
or by captures and confiscations made by war, cannot recover from the insurer; it being
a rule o f law that “ no man can take advantage o f his own w rong;” and, therefore, the
law will not, in any instance, enforce an illegal contract.




608

Commercial Cities o f E urope: Paris.

a crippled condition, are all proofs bearing upon the subject, and in vari­
ous degrees supposes a loss. The general rule, in absence o f these at­
tendant circumstances, is, to presume a loss after six months had elapsed
from the time it should have reached its port, and the absence o f any in­
telligence. I f an insurance is made upon a ship that is to depart from
Europe, and she lingers three months in port, the insurers have the pow­
er to annul the policy. I f an insurance be effected upon the cargo o f a
vessel, and that vessel be lost through the negligence o f the captain, if
the captain be appointed by the insured, the insurers are not responsible
for the loss ; because the act o f the captain is the act o f his employers.*
But, if the captain be not employed by the insured, the insurers are liable
on the policy, though they have their redress against the captain, or against
the owners of the ship, by whom he was appointed, at their discretion.
Such are the leading principles o f the local maritime law o f Paris, differ­
ing but in some few minor particulars from the laws that are laid down
in the French “ Code du C o m m e r c e o r our own general maritime law.
There is, in Paris, an establishment for the reception o f all paintings
that are published at the cost o f the government. The number is very
great, and exhibits specimens o f the works o f the great masters of the
art. There is, also, a building appropriated to the collection o f every
kind o f agricultural instrument and machine suitable for the purposes o f
farming and mechanical operations. This conservatory is open to the
public (free o f charge) every Sunday and Thursday. Lectures are deliv­
ered once a week in this building on geometry and mechanics, political
economy and general industry, and the building and construction o f mechanical and agricultural instruments. The legal weights and measures,
o f every description, are here also exposed to view.
The products o f France that are exhibited at Paris, for variety and per­
fection, exceed those o f almost every nation. They are emblems o f the
industry o f its population, which are striving one against the other to ex­
cel by a noble emulation. In every direction are seen specimens o f ele­
gant workmanship, coming from the various factories o f the Republic.
Large and commercial transactions have so enriched the city, that the
importance o f being well versed in its pursuits have become so apparent­
ly essential, that several schools have been established which give instruc­
tion relative to this important branch o f education, disconnected with any
other. The usefulness o f these establishments have been very apparent,
by giving an universal insight into those principles which should not alone
be confined to the commercial man. Societies are formed to encourage
the fine arts, and whatever tends to the advancement o f commerce and
industry. These societies branch out into different spheres. Some have
the exclusive province o f rewarding for specimens o f superior workman­
ship in the mechanical departments ; while others take upon themselves
to encourage those devoted to agricultural pursuits.
The halls and markets afford great attraction by their bustle and varie­
ty. The halls are the places where assemble crowds o f merchants, from
every part o f the city, to discourse upon commercial affairs, and by that
means keep up a general communication and knowledge of passing events,
operating upon their business. Here, likewise, come the broker and bank* According to a rule o f law, that the master is responsible for the act o f his servant,
laid down by Lord Coke in this striking m axim :— “ Qui non prohibet, quum prohibere
'posset, jubet.”




Commercial Cities o f Europe : Paris.

609

er, each relating and receiving what has come respectively to the knowledge o f each, with their various comments and opinions. Opposite this
establishment commences the grand markets o f Paris, connected in the
whole, yet different parts apportioned for the sale and exhibition o f differ­
ent articles. Here are exhibited, in their respective places, the corn and
grain, the poultry, pork, beef, veal, and every variety o f mixed meats, and
also butter and eggs. There are usually exhibited alone, in the corn mar­
ket, 877,200 sacks o f grain. Other small markets branch out in every di­
rection from these, filled with venders o f apples, oranges, and every vari­
ety o f fruit; while tables o f provisions stand ready at every hour for the
hungry. There are laws governing all these markets, which are strictly
enforced when wilfully broken. The fish-market, which we have not yet
mentioned, is the largest and most attractive. There may be seen fish o f
every variety and every size, many just from their element, jumping and
floundering on the stands.
The commercial relations o f Paris are favored by the Marne uniting
with the Seine, one and a half miles below the city ; yet, even with this
addition to its waters, the Seine is not navigable by boats o f heavy ton­
nage. The Seine runs in a circular direction almost around Paris, which
makes a long distance for the communication between the east and west
portion. T o remedy this, many years ago, when it was in comparative
infancy, a canal was constructed to unite the different sections, and now
offers a short and quick mode o f transportation from one part o f the city
to the other. Henry IV. had conceived the project o f making Paris a
sea-port by means o f an immense canal from Paris to the sea, so as to
admit ships o f the largest tonnage. But the same purpose would have
been effected had he enlarged the Seine itself. Paris is connected with
the countries o f the north and Belgium by the canal o f Saint Quentin; it
is connected with the centre o f the country by the canal o f Loing, which
joins the Seine to the L oire; and it communicates with the east and south
by means o f a canal which likewise flows from the Seine to the Loire. A
more direct course from the east is by the canal o f Burgogne, which
goes from Ganne to the Seine, and to which the canal o f the Rhone to the
Rhine is a kind o f continuance.
The number of boats which come up the Seine are considerable ; about
11,000 are continually bringing productions from Nivernais, Orleans,
Champagne, and Auvergne ; fruits, toys, and ornaments ; iron and grain,
wines, silks, butter, eggs, and poultry, and eatables o f every description.
After disposing of their articles, these boats return again laden with va­
rious kinds of merchandise suitable for their respective homes.
There were, in 1847, 1,200 diligences or stages continually running
through Paris and its environs, besides a great number going through the
centre o f the country, and some extending to Belgium, Germany, Swit­
zerland, and Italy, and forming a constant communication with these
countries.
Three mails a day go from Paris to the following cities :— Calais, Lille,
Meziere, Strasbourg, Besanqon, Lyons, Clermont-Ferrand, Toulouse,
Bordeaux, Nantz, Brest, Chaen, and Rouen. T o other towns one mail is
sent per day. In 1838, the number o f letters franked at Paris, were
19,223,915 ; and in 1830, 39,255,875 journals and newspapers were sent
by the post.
The population o f Paris in 1836 was 800,000. The number o f house*
von. x v m .—

no .




vi.

39

610

Statistics and History o f the British Cotton Trade :

paying a fixed rent were 75,844; 920 large establishments were build­
ing, besides an almost endless number of smaller buildings. There were,
at that time, 88,000 persons who existed by public charity ; and there
is no criterion by which the varying number o f strangers going to and
from the capital can be ascertained.
W e here give the number o f individuals engaged in the different classi­
fications of commerce, in 1838 :— 60 agents for the loaning o f money, 189
bankers, 68 brokers, 87 fabricators o f chemical instruments, 16 sugar re­
finers, 41 tanners, 36 silversmiths, 299 apothecaries, 40 bandage makers,
258 gunsmiths, 205 opticians and manufacturers o f surgical and mathe­
matical instruments, 14 fabricators o f porcelain ware, 489 book binders,
76 stamp makers, 77 workers o f paint, 310 workers o f tapestry, 721 o f
lace, 570 o f millinery, 165 o f tin, 101 lamp makers, 93 toy makers, 310
makers o f coaches, 840 harness makers, 133 makers o f shawls, 553 bottle
moulders, 350 stamp makers, 154 makers o f cutlery, 1,458 tailors, 514
butchers, 600 sellers o f groceries, 26 braziers, 179 distillers, 222 hotel
keepers, 166 restaurat keepers, 483 sellers o f wine at wholesale, and
1,787 merchants, without including the very small shop-keepers. After
having looked at Paris in her various commercial relations, we will give a
glance at her administration and revenue before we close. Paris, the
commercial and manufacturing city, is at the same time a city well ad­
ministered in its political government. The immense population o f every
class o f people brought together in a comparatively small sphere o f action,
called for a stricter organization than is established in the other smaller
towns in the nation. It consists o f a mayor and two prefects : the prefect
o f the Seine, and the prefect of the Police. The prefect o f the Seine has
charge of all public institutions ; the prefect o f the Police has charge o f
the department for the protection of the property and the inhabitants o f the
city.
The revenue o f the city o f Paris exceeds 45,000,000 francs per annum,
surpassing that o f the whole kingdoms o f Sweden and Denmark.

Art. IV.— STATISTICS AND HISTORY OF THE BRITISH COTTON TRADE :
AND

OF

TH E

M AN U FACTU RE

OF COTTON

G O O D S.

CH A PTE R II *

T h e first six tables, three o f which were included in chapter i., (pub­
lished in the Merchants’ Magazine for February, 1848, Vol. X V III., No. 2,)
exhibit, in progressive order, the quantity o f yarn, thread, calicoes print­
ed, calicoes plain, and cambrics, exported from the United Kingdom to
the different parts o f the globe from the year 1831 to 1846, both inclusive.
W e now proceed to give, in continuation o f the statistics o f this important
branch o f British trade and manufactures, a table showing the quantity of
plain calicoes, in yards, exported from Great Britain to all nations in
each year from 1831 to 1846, inclusive :—
* For chapter i., embracing an outline history o f the cotton trade and manufacture, with
tabular statements o f the quantity o f cotton yarn, cotton thread, and calicoes printed and
dyed, exported from Great Britain in each year from 1831 to 1846, inclusive, see Mer­
chants’ Magazine for February, 1848, Vol. XVIII., No. 2, pages 152 to 163.




And o f the Manufacture o f Cotton Goods.

611

P L A IN C A LIC O E S E X P O R T E D F R O M G R E A T B R IT A IN .
TABLE SHOWING THE QUANTITY OF PLAIN CALICOES, IN YAEDS, EXPORTED TO THE UNDERMEN­
TIONED PLACES IN THE FOLLOWING YEARS.
PLACES.

18 3 1.
Y ards.

Barbary and M orocco......................
Brazils........................................... )
Buenos Ayres, Monte Video & c. £
British W est Indies..........................
British North Am erica....................
Belgium..............................................
Coast o f Africa, exclusive o f Cape.
Chili and Peru...................................
Cape o f Good Hope.........................
Colombia...........................................
Denmark..........................................
Egypt..................................................
France................................................
Foreign W est Indies.......................
Gibraltar..........................................
Hanse Towns, & c ...........................
Hanover.............................................
H olland..............................................
India............................................... )
China.............................................. $
Malta and Ionian Isles....................
Mauritius and Batavia.....................
M exico...............................................
N ew Holland....................................
Naples and Sicily..............................
Prussia................................................
Portugal, Madeira, & c ....................
Russia..................................................
Sweden and Norway........................
Spain...................................................
Sardinia, Tuscany, & c ....................
Trieste, Austrian Ports, & c ............
Turkey and Levant..........................
United States o f A m erica...............

1831

18 3 3 .

18 3 4 .

Y ards.

Y a rd s.

Y a rd s.

16,979,437
3,494,852
6,223,125
6,094,995

22,170
7,903,799
2,879,796
7,214,687
10,581,062

22,729,844
2,393,933
8,460,624
6,668,464

350,830
8,147,109
892,118
2,220,771
216,121

655,733
8,863,542
426,320
2,031,993
146,458

2,104,236
10,432,158
558,160
3,294,322
144,706

489,570
5,173,265
5,349,800
18,942,937

” 246,812
10,536,028
4,065,890
16,288,140

780,233
9,273,575
2,078,997
12,972,626

54,825
26,130,404
10,565,817
7,894,960
4,071,305
1,087,105
4,751,599
13,057,425
906,693
2,746,555
174,257
398,403
1,189,634
5,923,298
5,032,904
9,203,604

3,555,678

8,432,237

7,982,183

8,245,588

18,619,502

7,494,193

19,522,438

25,515,795

1,545,422
3,408,765
7,074,389
761,592
5,082,489

627.031
2,548,219
6,506,587
362,685
589,645
9,744
4,701,652
475.031
55,594
1,871,641
10,460,120
6,169,158
5,304,246
12,435,595

530,834
1,654,108
3,205,262
537,409
1,560,633

2,688,915
456,868
2,300,432
1,334,124
5,651,268

5,172,170
550,609
141,111
396,532
16,560,171
6,256,149
10,268,394
15,852,212

18,987,283
453,750
833,746
383,261
19,015,595
7,826,593
17,271,816
12,406,857

2,225,917
418,318
89,280
2,715,897
18,610,293
4,516,104
14,390,334
21,094,267

T otal............................................... 178,683,177 139,905,808 172,082,093 216,560,679
TABLE OF PLAIN CALICOES EXPORTED FROM GREAT BRITAIN— CONTINUED.
PLACES.

Barbary and M orocco........................
Brazils.............................................. ?
Buenos Ayres, Monte Video, & c. $
British W est Indies............................
British North America......................
Belgium...............................................
Coast o f Africa, exclusive o f Cape.
Chili and Peru....................................
Cape o f Good H ope;.........................
Colombia..............................................
Denmark..............................................
Egypt....................................................
France .................................................................................
Foreign West Indies..........................
Gibraltar..............................................
Hanse Towns, & c..............................
Hanover .....................................................................




18 3 5 .

18 3 6 .

18 3 7.

Y a rd s.

Y a rd s.

Y a rd s.

486,640
36,609,485
12,626,612
6,695,314
802,944
576,018
11,771,679
1,283,419
971.395
96,050
3,232,607
858,426
6,712,294
6,396,103
10,717,837

372,033
42,791,642
12,672,689
1,718,158
733,573
618,217
12,052,487
2,949,505
2,696,587
32,247
4,432,455
9,517,880
20,981,723
7,174,073
11,646,040

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

2,158,006
37,030,679
11,408,748
5.116,149
632,534
1,410,003
10,891,919
2,031,676
1,350,184
20,246
4,123,571
805,353
5,131,125
12,220,359
13,041,434

18 3 8 .
Yards.

3,281,955
40,814,906
14,616,807
4,977,267
615,820
2,321,487
7,578,261
2,642,873
1,749,556
25,328
11,708,758
722,379
8,281,274
8,890,872
16,993,713
6,300

612

Statistics and History o f the British Cotton Trade
TABLE OE PLAIN CALICOES EXPORTED FROM GREAT BRITAIN— CONTINUED.
PLACES.

Holland...................................
India........................................
China......................................
Malta and Ionian Isles........
Mauritius and Batavia.........
M ex ico...................................
N ew Holland........................
Naples and S ic ily ................
Prussia.....................................
Portugal, Madeira, & c........
Russia......................................
Sweden and Norway............
Spain......................................
Sardinia, Tuscany, & e.........
Trieste, Austrian Ports, &c.
Turkey and Levant.............
United States o f America...

18 15 .

18 16 .

18 17.

Yards.

Yards.

Y ards.

18 18 .
Yards.

9,900,611

10,038,973

16,290,562

14,508,074

41,470,107

54,906,878

48,076,668

61,660,564

1,831,787
853,048
1,942,935
920,135
3,613,862
115,971
15,710,362
1,140,982
124,922
389,259
11,017,038
6,097,029
15,324,540
23,875,102

2,255,421
1,481,020
714,933
1,403,404
4,471,403

2,143,667
2,595,089
2,052,733
935,798
4,319,809

3,368,589
3,270,460
4,577,968
1,575,973
4,394,756

13,226,568
748,819
250,254
450,870
18,604,649
7,188,683
22,828,724
17,065,042

15,944,793
630,137
160,956
424,975
15,464,998
5,589,458
21,312,544
5,554,139

21,202,481
881,663
129,031
664,218
13,076,957
10,240,689
36,679,534
11,389,241

234,164,513 286,024,950 248,868,312 312,847,754

Total.

TABLE OF PLAIN CALICOES EXPORTED FROM GREAT BRITAIN— CONTINUED.
PLACES.

18 19 .
Y ards.

Barbary and M orocco........................
Brazils.............................................. 1
Buenos Ayres, Monte Video, & c. $
British W est Indies...........................
British North America......................
Belgium ................ .............................
Coast o f Africa, exclusive o f C ape.
Chili and Peru...................................
Cape o f Good H ope...........................
Colombia.............................................
Denmark.............................................
E gypt...................................................
France................................. ...............
Foreign W est Indies.........................
Gibraltar..............................................
Hanse Towns, & c .............................
Hanover...............................................
Holland................................................
India................................................ I
China............................................... $
Malta and Ionian Isles......................
Mauritius and Batavia.......................
M exico.................................................
N ew Holland......................................
Naples and Sicily...............................
Prussia.................................................
Portugal, Madeira, & c......................
Russia...................................................
Sweden and Norway.........................
Spain....................................................
Sardinia, Tuscany, & c......................
Trieste, Austrian Ports, & c.............
Turkey and Levant..........................
United States o f America................
Total.




18 4 0 .
Y ards.

18 41.

18 42.

Yards.

Y a rd s.

1,079,187

25,200

1,203,798

253,425

45,143,399

40,649,632

47,189,215

31,977,181

15,740,375
10,389,823
544,446
1,935,791
27,029,236
2,277,615
3,212,051
29,650
1,471,373
627,235
6,876,202
11,720,139
17,703,286
10,470
14,220,917

17,032,199
4,880,530
479,068
962,062
17,361,189
2,110,164
3,726,105
12,783
1,599,523
496,776
7,080,744
12,103,699
11,972,610
2,300
12,262,060

9,831,280
7,757,332
797,774
1,181,957
7,211,373
2,008,352
1,724,501
104,040
8,646,764
327,471
7,487,614
12,159,855
16,630,261
23,854
18,440,841

13,792,147
5,596,638
679,690
5,712,560
17,578,463
1,840,656
2,694,762
139,154
4,329,953
1,442,875
6,147,747
14,760,053
14,361,198
6,770
13,683,294

71,295,812

81,394,962 113,462,644 125,302,943

1,994,728
1,132,695
4,275,443
2,656,471
1,758,700

2,392,751
2,209,400
2,338,277
1,814,479
2,861,821

6,010
14,187,822
949,234
116,560
420,404
10,187,646
6,227,222
29,586,416
11,194,870

17,002,755
1,062,716
96,464
897,256
20,417,094
3,749,672
25,406,282
7,439,463

6,130,900
1,996,063
2,542,406
985,823
4,941,685
576
19,290,132
825,317
567,149
254,401
17,880,582
8,263,691
35,121,748
11,957,053

6,507,325
1,358,998
2,894,674
1,239,775
5,180,302
973
16,931,183
1,585,418
853,883
128,172
16,687,033
7,432,799
39,817,072
5,120,403

316,001,228 301,840,036 366,946,452 366,037,519

And o f the Manufacture o f Cotton Goods.

613

TABLE OP PLAIN CALICOES EXPORTED FROM GREAT BRITAIN— CONTINUED.
PLACES.

Barbary and M orocco.......................
Brazils............................................. i
Buenos Ayres, Monte Video, & c. \
British W est Indies..........................
British North America.....................
Belgium...............................................
Coast o f Africa, exclusive o f Cape.
Chili and Peru...................................
Cape o f Good Hope..........................
Colombia.............................................
Denmark..............................................
Egypt....................................................
France.................................................
Foreign W est Indies.........................
Gibraltar..............................................
Hanse Towns, & c ............................
Hanover..............................................
Holland................................................
India................................................ )
China.............................................. \
Malta and Ionian Isles.....................
Mauritius and Batavia......................
M exico................................................
N ew Holland.....................................
Naples and Sicily....,.........................
Prussia.................................................
Portugal, Madeira, & c ......................
Russia..................................................
Sweden and Norway.........................
Spain....................................................
Sardinia, Tuscany, & c.....................
Trieste, Austrian Ports, & c .............
Turkey and Levant..........................
United States o f America................

18 4 1.

18 44.

18 4 5 .

18 4 6 .

Y ards.

Yards.

Y a rd s.

Y ards.

197,210

299,000

45,293,498

56,636,533

16,600,534
9,919,469
647,989
17,707,801
12,168,464
4,943,783
5,336,454
444,377
9,586,822
3,326,257
6,611,688
20,250,988
18,984,352
30,710
27,014,624

15,171,050
12,921,968
4,253,495
1,894,016
9,170,264
2,024,918
2,618,021
839,366
9,724,791
947,366
8,740,650
15,765,260
19,241,510
57,004
13,890,634
177,771,711
83,101,487
4,718,483
2,286,212
1,016,184
3,168,093
4,406,657
3,206
26,637,858
901,985
886,993
162,655
16,309,598
7,857,569
56,591,435
9,661,820

4,229,376
2,361,917
2,165,036
3,980,894
2,469,567
1,568
25,434,969
1,056,522
710,458
270,977
21,185,190
8,799,326
50,221,000
7,736,295

147,420
31,600
45,982,091 68,337,426
1,519,242
7,134,737
16,987,142 17,765,800
11,580,586 16,721,404
1,220,416
2,246,587
2,910,965
5,755,800
20,149,503 29,234,501
3,591,648
3,394,241
5,445,122
1,866,085
861,488
467,912
7,044,258
3,696,560
1,069,777
1,040,698
15,018,973 13,656,816
16,139,177 12,279,033
16,523,393 16,882,682
70,044
27,451
14,178,738 17,624,642
166,946,565 179,684,172
106,490,275 70,923,872
9,568,007
8,106,371
1,106,358
3,067,609
1,648,580
1,994,483
2,415,996
3,961,699
9,707,106
3,876,834
1,248
23,971,656 26,485,190
914,306
823,577
997,461
755,941
21,600
376,202
16,885,890 20,504,804
9,505,852 15,905,559
68,161,151 55,512,308
12,412,981 10,640,215

Total.............................................. 520,941,635 569,677,792 613,138,645 618,839,181

W e close the present paper with a chronological history o f calico print­
ing and dyeing:—
PRINTING AND DYEING.

1631
1675
1676
1678
1690
1700
1712
1714
1720
1736
1763
1764
1765
1774

Painted (printed) calicoes imported from India.
Calico printing first introduced into England.
Calico printing commenced in London.
A loud cry raised against the admission o f India calicoes, muslins, and chintzes, as
it was stated they were ruining our own woollen trade.
A small print works established on the Thames, at Richmond.
A ct passed forbidding the importation o f Indian silks and printed calicoes, under a
penalty o f £2 00 on buyer and seller.
Duty o f 3d. per yard first imposed on printed and dyed calicoes. (These were of
foreign manufacture.)
Duty on printed calicoes raised to 6d. per yard.
A ct prohibiting the use or wear o f printed calicoes, whether printed in England or
elsewhere, under a penalty o f £ 5 wearer, and £ 2 0 seller.
So much o f the act o f 1720 repealed, as forbade the wear or use o f mixed printed
goods, that is, goods not all cotton.
Bleaching generally introduced.
Calico printing first practised in Lancashire.
English printed calicoes exported to Holland.
Duty o f 3d. per square yard imposed on printed cottons of British manufacture.




614
1774
“
1777
1782

1783

1784
1784
1785
1786
1787
“

1785
1788
1791
1798
1801
1802
1805
1808
1810
1813
1831

Commercial Code o f Spain.
Penalties for exporting tools or utensils used in manufacturing, of £2 00 on shipper,
and £ 2 0 0 on commander o f any vessel.
Chlorine, or oxymuriatic acid, discovered by Scheele.
Green dye for calicoes introduced by Dr. R . Williams.
A ct prohibiting the exportation o f engraved copper plates and blocks, or enticing
any workmen employed in printing calicoes to go beyond the sea, £ 5 0 0 and 12
months’ imprisonment.
A ct giving bounties on the export o f British printed and dyed cottons, viz:
Under the value o f 5d. per yard before printing, Jd. per yard.
“
“
5d. and under 6d.
“
Id .
“
“
“
6d. and under 8d.
“
ljd . “
Besides the drawback o f excise duty. This act was repealed a short time after.
Bleachers, printers, and dyers compelled to take out licenses under an annual tax
o f £ 2 by Mr. Pitt.
A tax o f Id . per yard imposed upon all bleached cottons.
(Repealed M ay 17th,
1785.)
Cylindrical printing invented by Mr. Bell, and greatly improved by Mr. L ock ett,of
Manchester.
Bleaching with acid introduced in the bleach works o f Mr. McGregor, near Glas­
gow, by James Watt.
First copyright for printers.
Excise duty o f 3Jd. per square yard on printed calicoes imposed, and the same al­
lowed as drawback on exportation, and foreign calicoes charged with a duty o f
7d. per yard, when printed or dyed in Great Britain. (M ay 10th.)
A cid for bleaching introduced by Bartholet.
A cid first used for bleaching in Manchester.
Improved method o f bleaching cotton goods with acids in 5 hours.
Chloride o f lime for bleaching, patented by Mr. Tennant, o f Glasgow.
Discharge work in printing successfully adapted, by Messrs. Peel.
N ew method o f block cutting, introducing brass and pin work.
Engraved wooden rollers used, invented by Mr. Barton, engraver to Messrs. Peel.
N ew method o f engraving with dies introduced, by Mr. Lockett.
Turkey red first introduced in calico printing, by M. Koechlin.
Discharging Turkey red with acid in calico printing, patented by James Thompson,
Esq., F. R. S.
Duty on printed calicoes repealed, March 1st.

Art. V.— C O M M E R C I A L CODE OF S P A I N .
NUMBER IV .*

W e continue our translation o f the “ Codigo de Comercio ” o f Spain, o k
the subject o f Maritime Law. The present and next number embraces
that o f Marine Averages and Forced Arrivals.
of

th e

r is k s

an d

dam ages

of

m a r it im e

com m erce

c o n c e r n in g

AVERAGES.

A r t . 930. Averages, in legal acceptation, are—

First. Every expense, extraordinary and eventual, which may happen
during the voyage o f the vessel for the preservation o f it, of the cargo, or
both o f them jointly.
Second. The damages which the vessel may suffer from the time of ma .
* For Number 1 o f our translations o f the Commercial Code o f Spain, relating to the
Law o f Carriers by Land, see Merchants’ Magazine, Vol. XV., (1846,) page 267. F or
Number 2 , relating to the Law o f Carriers by Sea, see Vol. XV., (1846,) page 556. For
Number 3 o f the Code, relating to Maritime Transportation— the Bill o f Lading, etc., see
Vol. X V I., (1847,) page 378.




Commercial Code o f Spain.

615

king sail in the port o f her departure, until anchored in the port o f her des­
tination ; and those damages which the cargo may receive from the time of
being loaded on board, to that o f its discharge in the port where it may be
consigned.
931. The responsibility for said expenses and damages shall be decided
by distinct rules, according to the character which the averages may
possess o f ordinary, simple or particular, and gross or common.
932. The expenses which occur in navigation, known by the name o f
small or petty expenses, belong to the class o f ordinary averages. These
are for the account o f the naviero fletante, or the ship’s husband who sails
the vessel, and ought to be satisfied by the captain allowing him the in­
demnification which has been agreed upon in the policy o f affreightment,
or in the bills o f lading.
I f no special and fixed indemnification has been agreed upon for these
averages, they are understood to be comprehended in the price o f the
freights, and the naviero shall have no right to reclaim any sum o f money
for them.
933. There shall be considered, as comprehended in the preceding ar­
ticle, as petty expenses or ordinary averages—
First. The pilotage o f the coast and ports.
Second. The expenses o f launches and heaving down the vessel.
Third. The claims o f signals, o f the chief pilot, o f the anchorage, of
boarding, and the other small charges o f the port.
Fourth. Freights o f lighters and the discharge o f cargo. T o these are
to be added the storage o f the merchandises on the mole or wharf, and
every other expense common to navigation which are not for those extra­
ordinary and eventual.
934. The expenses and damages which are comprehended under the
name o f simple or particular averages, shall be sustained by the proprietor
o f the thing which occasioned the expense or received the damage.
935. There shall pertain to the class o f simple or particular averages—
First. The damages which may happen to the cargo from the time o f
its embarcation to the time o f its discharge, from the inherent defects or
vice o f the things, from an accident o f the sea, or from the effect o f insu­
perable force, and the expenses made to avoid and repair them.
Second. The damage which may happen in the hull o f the vessel, her
tackle, apparel and furniture, in whichever o f these three causes indicated,
and the expenses which may be caused to save those effects or repair them.
Third. The wages and subsistence o f the company (Tripulation) o f the
ship, which may be detained by a legitimate order or insuperable force,
if the affreightment shall have been contracted for at so much the voyage.
Fourth. The expenses which the vessel may incur to put into a port for
the purpose o f repairing her hull or rigging, or to procure provisions.
Fifth. The depreciation which the goods have suffered when sold by
the captain on a forced arrival, or arrival in distress, to make payment for
provisions and to protect the ship’s company, or to cover any other o f the
necessities which may occur in the vessel.
Sixth. The maintenance and the wages o f the ship’s company so long
as the vessel shall remain in quarantine.
Seventh. The damages which the vessel or cargo may receive by col­
lision, or encounter with another vessel, this being casual and inevitable.
When one o f the captains shall be culpable in such an accident, it shall




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be to his charge to satisfy the whole o f the damages which he may have
occasioned.
Eighth. Whatever damage may result to the cargo, or from want o f
care, faults, or barratries (barraterias) o f the captain or o f the ship’ s
company, shall be simple or particular average, without prejudice to the
right of the proprietor to an indemnification competent against the captain,
the ship, and the freight.
Lastly. There shall be classified, as simple or particular averages, the
whole o f the expenses and damages caused to the ship or to its cargo which
have not redounded to the benefit and common utility of the whole of those
interested in the same ship and its cargo.
936.
Averages gross, or common, are generally the whole o f those
damages and expenses which may have been caused deliberately to save
the ship, its cargo, or any o f its effects, from any known defective risks.
Saving the application o f this general rule in the cases which may oc­
cur, there shall be declared especially, as corresponding to this class o f
averages—
First. The effects or money which may be paid, by way o f composition,
to ransom the vessel and her cargo, which may have fallen into the power
o f enemies or pirates.
Second. The things which shall be thrown into the sea to lighten the
ship, whether belonging to the cargo, to the vessel and its company, and
the damage which may result from this operation to those things which
may be preserved in the vessel.
Third. The spars and masts which may be purposely cut away, broken,
or rendered useless.
Fourth. The cables which may be cut, and the anchors which may be
abandoned to save the vessel, in case o f tempest or risk, from enemies.
Fifth. The expenses for lightering or transshipping a part o f the cargo
to lighten the vessel, or place it in a condition to enter a port or roadstead,
for the purpose o f protecting it from the risk o f the sea, or o f enemies, and
the damage which may result from this operation to the effects lightered
or transshipped.
Sixth. The damage which may be caused to any effects o f the cargo
from the results o f having made, purposely, any opening in the vessel to
clear her from water and to preserve her from foundering.
Seventh. The expenses which shall be incurred to put a vessel afloat,
which may have been purposely run on shore with the object o f saving the
vessel from the dangers o f foundering or shipwreck.
Eighth. The damage caused to the vessel, in which it may become ne­
cessary to open, to break, or to make holes purposely, to take out and to
preserve the effects o f her cargo.
Ninth. The c u r e o f the individuals o f the ship’ s company who may
have been wounded, or hurt, in defending the vessel, and their subsistence
during those times which they may be suffering from those causes.
Tenth. The wages which may be due to any o f the ship’s company
who may be detained as hostages by enemies or pirates, and the neces­
sary expenses which shall be caused by their having been imprisoned un­
til restored to the vessel, or to their domicil, if they cannot again join the
vessel'.
Eleventh. The wages and sustenance o f the company o f the ship, whose
affreightment has been adjusted by months, during the time which she re­




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617

mained under embargo or detention by civil authority or force insuperable,
or to repair the damages to which she may have been deliberately exposed
for the common benefit o f all parties interested.
Twelfth. The deterioration which may result in the value o f the mer­
chandises which, on a forced arrival, it may have become necessary to
sell, at reduced prices, to repair the vessel from damages received by any
accident which pertains to the class o f gross averages.
937. All persons, interested in the ship and cargo, existing in the ves­
sel at the time of running the risks from which the averages shall proceed,
shall contribute to the amount o f the gross or common averages.
938. The captain cannot determine, by himself alone, the damages and
expenses which pertain to the class o f common averages without consult­
ing the officers o f the ship, and the shippers (or merchants) present, or
their supercargoes.
I f those present should be opposed to the measures which the captain,
with his second officer, if he has one, and the pilot, should find necessary
to save the vessel, the captain shall proceed to put those measures in exe­
cution under his own responsibility, notwithstanding the opposition.
The right of those prejudiced being put in safety, to present it at its
proper time, in a competent tribunal, against the captain who in any cases
may have proceeded with fraud, ignorance, or want o f care.
939. When the shippers, being present, shall not have been consulted
in the resolution which the preceding article prescribes, they shall be ex­
onerated from the duty o f contributing to the common average which cor­
responds to them to satisfy, such part shall fall upon the captain; unless
from the urgency o f the case, the time and the occasion shall have failed
the captain to ascertain the will o f the shippers, before he shall have taken
upon himself any disposition concerning it.
940. The resolution adopted to satisfy the damages and expenses o f the
common averages shall be inserted in the books o f the ship, with a state­
ment o f the reasons which made the motion o f the votes which may have
been given in the contrary, and the grounds which those voting may have
urged.
This act shall be signed by all o f those concerned who know how to
do it, and it shall be written out before they proceed to the execution o f
the resolution, if they shall have time to do i t ; and in case they shall not
have time then to do it, it shall be done the first moment in which it can
be verified.
The captain shall deliver a copy o f the deliberations to the judicial au­
thority in the negociations o f commerce at the first port where he may ar­
rive, affirming, under oath, that the facts contained in it are true.
941. When it shall be necessary to throw into the sea any part o f the
cargo, it shall be commenced with the most weighty articles, and those o f
the least value and of the same class. There shall be thrown overboard—
First. Those which shall have been placed first on the deck.
Second. And following the order, upon which the captain may deter­
mine with the consent o f the officers o f the vessel. Any part o f the cargo
existing upon the commings o f the vessel, shall be first thrown into the
sea.
942. A continuation o f the act which shall contain the deliberation o f
throwing into the sea a part o f the cargo which shall have become neces­
sary, shall contain an annotation o f all such effects as shall have been




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thrown overboard ; and if any o f the effects saved shall have received
damage directly in consequence o f such jettison, mention o f those shall
also be made.
943. If the vessel shall be lost notwithstanding the jettison o f a part of
the cargo, the obligation to contribute to the value o f gross averages shall
cease, and the damages and losses incurred shall be estimated as aver­
ages simple or particular, chargeable upon the parties interested in the
effects which may have suffered the damages.
944. When, after a vessel has been saved from a risk which occa­
sioned the gross averages, she shall perish by another accident occurring
in the progress o f her voyage, there shall subsist an obligation to con­
tribute to the averages jointly, against the effects saved from the first risk
which have been preserved after the destruction o f the vessel, according
to the value which shall correspond to them, their condition being consid­
ered, and with the deduction o f the expenses incurred to save them.
945. The justification o f the losses and expenses which constitute the
common averages, shall be made in the port o f discharge at the solicita­
tion o f the captain, and with a citation and audience notified to the whole
o f the parties interested to be present, or to their consignees.
a . it .

Art. V I . — H A S K E L L ’ S M E R C A N T I L E L I B R A R Y A B D R E S S . *
U S E F U L N E S S O F M E R C A N T I L E L I B R A R Y A S S O C IA T I O N S — O R IG IN A N D P R O S P E C T S O F T H E I R M E M B E R S —
R E C I P R O C A L D U T IE S OF C L E R K S A N D E M P L O Y E R S — IN F L U E N C E OF T H E

C O M M E R C IA L C L A S S IN T H E

W A R OF T H E R E V O L U T I O N .

I t can seldom be out o f place, in a work like this, to speak of the great
value of institutions established to promote literary and scientific pursuits
among merchants. No intellectual duty is more clearly manifest than
that of bringing every faculty o f the mind as near as possible to perfec­
tion. The proofs o f the existence o f this duty are found in that strong
desire for knowledge which is a part o f our nature ; in the fact that every
object by which we are surrounded incites us to mental exercise ; in our
unceasing consciousness that we are capable o f still greater intellectual
improvement; in the natural and unfeigned respect which we feel for those
whose knowledge is greater, and whose tastes are more refined than our
o w n ; and in the judgment o f wise and Christian men, that our mental
progress does not end with this life, but that the Creator has designed that
by our studies and attainments here, we shall prepare ourselves for still
higher intellectual pursuits in a wider field hereafter. As a matter o f
simple duty, therefore, every man, whose circumstances and station in
life compel him to give his chief attention to a single occupation, should
improve every means o f cultivating and strengthening those faculties
which his usual business leaves unexercised.
Nor is this duty without its appropriate and ample reward. Intellectual
pursuits refine the manners and purify the thoughts. They are a pleasing
and ennobling employment for hours o f leisure. They do not encroach
* A n Address delivered before the Boston Mercantile Library Association at the Dedi­
cation o f their N ew Rooms, January 3, 1848, by D aniel N . H askell, a Member.




Haskell's Mercantile Library Address.

619

upon the rest which weariness demands, for the most healthful and refreshing rest is that very variety o f labor which they afford. They bring
forgetfulness of daily care and anxiety, and prevent the common vexations
o f life from attaining that undue importance, to which they are likely to
grow in moments o f idleness and ennui.
But the harvest time o f these labors is old age. No condition is more
pitiable than that o f a man who is no longer able to take part in the ac­
tive business o f life, and yet has never fitted himself for any employment
suited to his declining years. Away from the throng and tumult o f men,
he sees nothing to interest him— nothing to desire— nothing to accom­
plish. Wearied with his unaccustomed idleness, he haunts the scenes o f
his former occupations. But, there, his station is filled, and the places that
once knew him, know him no more. He feels that his sun has set while
yet it is day— that he is but a cumberer o f the ground. Care and anxiety
have become habitual to him ; and now that they cannot find relief in ac­
tion, they hurry his mind to doting imbecility, and his body to the grave.
The surest safeguard from this unhappy condition, is the cultivation of
intellectual tastes in early life. These, when the days o f bodily activity
are over, furnish pleasing and healthful employment for every hour. They
make the wealth o f the wealthy man minister to his happiness, not to his
disquiet. They provide perpetually new objects o f desire and new means
o f enjoyment. By their softening and elevating influence, they adapt the
mind to those acts o f charity which are so appropriate to the decline o f
life. They sustain the health and strength o f the intellect while the body
is sinking under the weight o f years, and secure to the aged the reverence
which gray hairs should always inspire and should always deserve.
These are the reasons which have convinced us of the great value o f
the institutions to which we have alluded. W e are glad to have had our
attention directed to the subject by the Address and Poem before us.
The Boston Mercantile Library Association is the oldest institution o f
the kind in the country, and yet “ a generation o f men has not passed
away since its organization ; and those o f its founders who survive, are
still in active life.” It was established, we believe, about the year 1820,
and since that time it has made rapid and almost unbroken progress.
It is o f ill omen to speak too well o f an unfinished work. Praise is an
encouragement to some minds ; but to most, it is rather a reason for rest­
ing content with what has already been accomplished. And, as we have
an exalted idea o f the possible attainments o f societies o f this kind, we
will only say, that we see in the past success o f the Boston Association, a
proof of the well-directed energy o f its members, and an earnest o f its
continued progress in the future.
Mr. Haskell has found the most interesting materials o f his Address in
the records o f the Association. The following is his description o f the
origin and character o f its members :—
t: The class of persons for whom these rooms are intended should not be lost
sight of on the present occasion. Our charter indicates their qualifications to be
1Young men engaged in, or destined for, the mercantile profession.’
“ We have now 1200 members ; a very large majority of whom are between
the ages of 15 and 25 years. 1200 young men collected together, of any class in
the community, would make quite an interesting sight: but is not the interest in­
creased when we know that that number of young men are all engaged in active
business ; that they are of the most interesting and influential class in this capital




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of New England; that in their ranks are represented every phase of the American
character, but that nine-tenths of them are the sons of the substantial farmers, the
prosperous traders, the enterprising ship-makers, the intelligent mechanics of Mas­
sachusetts and the northern portion of New England ; that nearly every one of them
is a graduate of the common schools of which we boast, and that, to a very great
extent, the pecuniary condition of their parents is the one which Agur desired, for
Providence has given them ‘ neither poverty nor riches.’
“ Doubtless many of these young men have been taken from school at as early an
age as was the late Dr. Bowditch ; that, like him, they might assist, by their in­
dustry, in procuring the means of subsistence to the family.
“ Read the names of our members; mark the preponderance of Hebrew Christian-names. Examine the surnames, and you find very few which are not noticed
in the New England Genealogical Register. Those names will meet your eye
upon the muster-roll of the revolutionary army; they were honorably represented
when Wolfe fell at Quebec ; they appear upon the list of soldiers and sailors be­
fore whose valor the French struck their flag at Louisburg ; they were present
when Gov. Endicott cut the hated papal ensign from the royal flag of England,
and trod it beneath his feet in contempt. You will find them in Savage’s edition
of Winthrop’s Journal, copied from the voting lists of Massachusetts, in the days
when the road to the ballot-box led through the communion-table. You will find
them in the records of the colony at the period when Gov. Winthrop wrote, in his
journal, he 1thought he should leave Salem and go to Massachusetts.’
“ These names are attached to the solemn covenant signed in the cabin of the
May Flower, where, with one dash of the pen, a certain cure was adopted for the
corruptions and abuses of human government for centuries.
“ These young men are the descendants of those who took Massachusetts, seven
generations ago, a wilderness, bleak and inhospitable. Their industry, arms, and
principles, have made her what she now is.
“ Free Labor, Free Thought, Free Schools, are the sacred trinity she has wor­
shipped. Look around you, and note the result. From the forests which have
been levelled, from the valleys which have been exalted, and from the streams
which now are turned to assist human industry, a voice goes up which verifies
the scriptural assertion, ‘ There is ihatgiieth and yet increaseth;’ and also echoes
back the truth of the political axiom, that1Freedom is the only certain cure for the
evils of Freedom.’
“ Our members come from the great middle interest of New England, as it
stands to-day. The city boy, and the youth from the country, here, for the first
time, are brought together by a common impulse.
“ In this throng, how many firesides and human hearts are interested. Upon the
success or failure in life of these young men how many interests are involved.
Should disgrace or crime overtake any one of them, would he be the only, or pos­
sibly the greatest sufferer ? And do I draw too imaginative a picture when I say
that to-night, at this very hour, there is scarcely a town of any considerable size in
the four northern New England States, which is not interested in our exercises
through at least one representative in our ranks ?”
It is natural to ask, What is the destiny o f these 1200 young men 1
What changes will a few years make in the position o f those who have
just departed from the old peaceful homestead, to plunge into the whirling
eddies o f the great city 1 To how many o f them will their New England
birth and nurture ensure advancement and final success 1 H ow many
will remember and cherish the affections o f their boyhood, and at length
return to their quiet country homes ? How many will pass their lives in
the city, devoted to the pursuits on which they have now entered ? How
many will be driven by that migratory tendency, which is so marked a trait
o f their countrymen, to seek elsewhere, in fresh fields o f enterprise, a
more eminent success. How many, apt by blood and breeding to “ turn
their hands ” to any and every calling, will shut the ledger and abdicate




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the lofty stool and bend their Yankee energies to occupations better suited
to their tastes, or more full o f promise to their hopes ? H ow many will
find rest in the grave for their beating hearts, before the race is over and
the prize is won 1
These questions Mr. Haskell answers in the following sketch o f the
varied fortunes o f a small and chosen number o f his associates :—
“ Ten years ago, last October, one of our most active and beloved members died,
leaving an interesting family of sisters, with their mother, in destitute circum­
stances. One hundred and eight of our members came forward and raised a fund,
by contributing one or two dollars each year,' till the sum of five hundred dollars
was paid the mother of their friend Torrey in quarterly payments of twenty-five
dollars each, for the term of five years.
“ Those one hundred and eight young men signed their names in a book, where
the plan was set forth, and also registered the names of their employers. Ten
years only have elapsed since this benevolent scheme was adopted: a recurrence
to that list of names, and inquiries of the family and friends of those who have left
us, give the following curious statistics:—
“ Of the one hundred and eight original subscribers, one hundred and two survive;
of whom sixty-seven reside in New England, and sixty remain in Boston. The
forty-two who have left Boston are scattered, as follows :—eleven are now in the
city of New York; four in New Orleans ; five reside in the State of Ohio ; two in
New Hampshire; two in Maryland, and one in each of the States of Illinois, Mis­
souri, Alabama, and Arkansas ; two are now at sea ; one is reported as a resident
“ out w e s t o n e is a judge in Oregon; and five reside in foreign lands, viz :—one
in Calcutta, two in the East Indies, one in Mexico, and one in the Sandwich
Islands.
“ Of the five who reside in Massachusetts, but away from Boston, one is an edi­
tor ; one is in college ; one teaches school; one is the cashier of a bank ; and one
is a settled clergyman. Two reside in New Hampshire ; one is a merchant, the
other a missionary.
“ Of the sixty who remain in Boston, forty-one are now in business; twelve of
whom are partners with those in whose employ they were at the time their names
were registered. Eighteen only remain in the same situation, at the expiration of
the ten years, of whom twelve, as above stated, have been admitted as partners.
“ These one hundred and eight young men were in the employ of eighty-three
different firms and corporations, fifty of whom remain, and thirty-three only retain
the same name and style of firm. Six of the original members have died ; two
only in Boston, and at an interval of seven years from each other. If mortality
and morality have an intimate relationship, this fact tells its own story. Of the
others who have departed, one died in Mobile; one in New Orleans ; one breathed
his last in France, whither he had gone to seek a milder climate; and the dirge of
the other was chanted by the elements, as a noble vessel, with her passengers and
crew, went down into the depths of the Atlantic ocean.
“ This authentic statement is made of the very best class of clerks ; those who
had the pecuniary ability, and generous disposition, to aid the relatives of their de­
parted friend. They were employed by houses of established reputation, where
changes among the clerks are less frequent than with newer, or less fortunate
houses, and yet, from this body, forty-one per cent, in ten years, are no longer
with us ; and, so far as can be ascertained, but one individual born out of Boston,
is now a resident in his native place. I would also observe, that the residences of
the absentees are given where they were at the last accounts; and no allusion has
been made to voyages and travels which are completed, and temporary residences
in our own and foreign countries.”
These portions o f the Address have been peculiarly interesting to us,
not only from the nature o f the subjects o f which they treat, but also from
their evident accuracy and reliableness. The orator has been careful to
avoid that vague declamation which is the common fault o f productions




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similar to this, and to confine himself to the statement o f facts most closely"
affecting his hearers, and to reflections appropriate to the occasion.
Mr. Haskell speaks with much sound sense, and, we fear, not without
reason, o f the too common neglect o f the duties which employers owe to
their clerks. It is proper that he should dwell upon these with somewhat
more force than upon the reciprocal duties o f clerks to their employers.
The unfaithful clerk seldom fails to pay the full penalty o f his wrong doing.
He is weak and obscure. Suspicions light as air are enough to crush him
to the earth. His more serious faults are among the crimes recognized
and punished by the law. But the employer has little to control his con­
duct, or to check his injustice, save his own sense o f right and considera­
tions o f prudence, like those which are here presented. W e commend the
following remarks to the perusal and the reflections o f a ll:—
“ The relations sustained by clerks to their employers are a source of many
troubles, and occasion unpleasant thoughts, and oftentimes result in mutual and
reciprocal hatred. In many departments of business, the compensation allowed
to clerks is so small, that the sons of wealthy men have a monopoly of the places,
which operates unfavorably, two ways : it drives away a large and meritorious
class of young men, while it introduces another, who, from the very nature of the
case, cannot take so active an interest, as those whom want and necessity urge
forward. The influence of these rich clerks, in situations where little or no com­
pensation is allowed, is very pernicious, in inducing habits of extravagance, inat­
tention to business, and of substituting the swell manners and flash appearance of
the roud, for the gentlemanly bearing and manly dignity of the good citizen.
“ In branches of trade where a compensation is allowed, it is generally too small
for the interests of both parties. Enlightened selfishness would seem to dictate a
reform in this matter. We are proverbial for our thrift, and have a character for
knowing what investments will produce the best dividends; and I submit, whether
an investment, in the shape of increased salaries, would not exhibit as large re­
turns, as any stock known to the board of brokers.
“ Let any merchant reflect how large a portion of the details of his business is
in the hands of clerks, how powerful an agency they exert in his affairs, how often
he is the victim of their negligence, incompetency, or dishonesty, and he will per­
ceive the great necessity for care in the selection ; and may we not hope a careful
investigation of the subject will lead him most cheerfully to pay ample remunera­
tion for services rendered. Two poorly paid, dispirited clerks are not so valuable
as one who takes an active interest in his employer’s affairs, and goes to his busi­
ness in earnest.
“ A boy whose existence is an experiment, showing the lowest point at which
body and soul can be prevented from dissolving their painful connection, is as far
from being the living intelligence he was created for, and is as much below the
level of his race, as are the jaded and broken-spirited animals we see carted about
in caravan cages, below their brethren of the boundless forest.
“ The best help, like the dearest law, is the cheapest; and it will always be
found the truest policy to practice the inspired precept, ‘ the laborer is worthy of
his hire.’
“ There is a strange want of confidence exhibited in the intercourse between
merchants and their clerks. Too frequently their conversation resembles what
may be termed cross-examination. Confidence begets confidence. No man has
so much talent and power as to be above learning many important points of intel­
ligence, respecting both men and business, from his young men. Each of the
parties moves in a different circle; and the clerk, from the nature of his young
companions, has equal means of obtaining valuable information his master enjoys.
“ What would be said of a military commander, and what would be his success
and fate, did be not avail himself of all the talent and diversity of character in his
subordinate officers ? A mechanic is careful to attend to the suggestions of his
workmen. A shipmaster should have the most perfect confidence in his mat"




Haskell’s Mercantile Library Address.

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and crew. And should a merchant lose all the advantages to be obtained from an
active exercise of all the talents and means of information his clerks possess ?
“ Another evil, attendant upon this intercourse, is the want of interest manifested
by employers respecting their young men, during the time they are away from
their places of business. In a very large majority of cases, employers do not trou­
ble themselves about this matter; and yet who does not see that upon this point
depends, in a great degree, the value of the services rendered while the clerk is on
duty.
“ Another evil, which is more prevalent than formerly, is the false hopes often
held out to young men to induce a sacrifice of present good upon the promise of
future advancement,—an advancement which is always future and ideal. What
greater crime can be committed against society than to coolly calculate how far
one can speculate upon the rising hopes of a young man, by basely holding before
him a delusion, which, when exposed, will send him forth to the world a disap­
pointed man, the victim of generous confidence, of human cupidity, and the foulest
wrongs.
“ What punishment is due the niggard, who sunders or weakens the bonds
which bind man to his fellow-man in ties stronger than aught save love and af­
fection ! What is life worth when honor is gone ! And who shall repair the
ruin to that mind, cheated of its fondest prospects, and allured to sacrifice its time
in vainly chasing a bubble, which bursts ere the hand could grasp its emptiness 1
“ Let no young man for one moment imagine, however, that, because his man­
hood is not acknowledged, and his better nature and nobler impulses are not thus
appealed to, there is, on his part, any relaxation of the highest moral obligation
to do everything in his power to advance the interest of his employer.
“ No neglect or remissness of the employer can obliterate his claims to all the
ability and force of character possessed by the young man. His duty is none
the less plain, because his life and enjoyments form no portion of the thoughts,
and engage not the attention, of the man who claims his time and talents.
“ Two wrongs will not make one right. And the boy, whose daily actions and
every movement are regulated by any such narrow and grovelling standard, fails
alike in the duty he owes to his employer and to himself.
“ Should negligence and heedlessness become a habit, the injury to the em­
ployer is transient and temporary; while the evils, of which they are the prolific
parents, will follow their unfortunate victim through life, and prove a curse, from
whose withering influence he will never be disenthralled.
“ The lessons of the past, and the united voices of reason and revelation, urge
the young man forward to his duty in every relation of life. By the constant ex­
ercise of fidelity, he will rise superior to the obstacles which seem to arrest his
progress, and, by serving others, he will confer lasting benefit upon himself. En­
lightened self-interest will press him onward in the path which duty and obliga­
tion mark out; and he will show the world,—and experience, himself,—the wis­
dom which dictated to a son the wise counsel,
“ * T o thine own self be true;
A nd it must follow, as the night the day,
Thou canst not then be false to any man.’ ”

It is well understood how largely the merchants o f the American colo­
nies participated in the discontent which preceded and caused the W ar o f
the Revolution ; and how steadily they stood by the cause o f Independence,
from the beginning to the end of the struggle. And it should be the pride
o f every merchant, as it is the duty of all, to remember that we are greatly,
perhaps mainly, indebted for the national privileges which we now possess,
to the vigorous and enlightened action of men bred to commercial pursuits.
Upon these men, the weight o f the arbitrary laws o f the mother country
first fell. They resisted these laws, primarily, without doubt, from a re­
gard to their pecuniary interests. But it is not to be forgotten, that, what­




624

Haskell's Mercantile Library Address.

ever were the original motives o f their resistance, they plainly saw that its
result would be the sacrifice of their fortunes and the hazard o f their lives.
W e close our extracts from this interesting Address with a brief sketch
o f the position o f the merchants o f America under the colonial govern­
ment, and o f their part in the war o f Independence :—
“ The influence of commerce in the war of the American Revolution has never
been so fully and faithfully depicted as by Mr. Sabine, in his late work upon the
Royalists of the Revolution. This writer has given a list of the oppressive laws
and regulations which finally resulted in the war. He is of the opinion that Eng­
land lost the affection of the mercantile class of the Northern Colonies full a gen­
eration before she alienated the South.
“ The odious laws of England, respecting the colonies, did not so much affect
Liberty or Taxation, as they did the Laws of Trade and Labor.
“ The laws which prohibited the working of wood and iron ; which forbade the
use of waterfalls, and the erection of machinery; laws which shut out markets for
lumber and fish; which seized sugar and molasses; enactments like these, paved
the way for the battles which followed. And the patriotic claims of the merchants
and ship-owners have not yet received anything like their just weight from His­
tory. As a class, they were undoubtedly the first persons who set themselves in
array against the measures of the British ministry.
“ While Cromwell lived, colonial trade was free. But after his death, the
maritime interests of America soon felt the difference between a Puritan and a
Stuart. Charles took measures to restrain and regulate the intercourse of the
colonies with countries not in subjection to him, and even with England itself.
“ An English traveller, at this period, writes, that in Massachusetts some mer­
chants were ‘ damnable rich.’ And another speaks of ‘ a lady who came over
from England with the valuable venture of her beautiful person, which went off at
an extraordinary rate, she marrying a merchant worth nearly £30,000.’
“ Massachusetts, in Cromwell’s time, had her own custom-houses and revenue
laws, and exacted fees from vessels arriving at her ports. When, therefore, the
royal collectors of Charles came over, they met with resistance from all parts of
the country. Edward Randolph, the collector of Boston, was treated with aver­
sion and contempt. The collector of Baltimore was killed, and scenes of violence
attended the execution of the laws.
“ For a long time the revenue laws were openly violated, and the king’s officers
were bribed to blindness, in matters which passed before their eyes. But about
ten years before the commencement of the war, the state of the public mind, and
the exasperation of the merchants at the insolence of the revenue officers, clearly
indicated that the restrictions to trade and commerce formed a very prominent
cause of the revolutionary spirit.
“ The collector of Boston was driven from the town, and sought refuge on board
a man of war, in the harbor. The revenue boat was dragged through the streets
by the populace, and burned upon the Common.
“ The cutting off of the fisheries, which were then the very life-blood of New
England, and the tidings that no vessel could leave or enter the port of Boston,
were the crowning acts in the policy which produced an appeal to arms.
“ The great body of the merchants of the thirteen colonies were whigs. Four­
teen, or one-fourth part, of the signers of the Declaration of Independence, several
of the generals, and other officers of the continental army, were bred to, or en­
gaged in, commerce. No class of persons were so cruelly oppressed ; none did
more to throw off the British yoke.’




Labor and Other Capital.

625

A rt. V II .— LABOR AND OTHER C A P IT A L :
, % v

T H E R I G H T S O F E A C H S E C U R E D , A N D T H E W R O N G S O F B O T H E R A D I C A T E D .*

T o F reeman Hunt, Esq., Editor o f the Merchants' M agazine, etc.

D ear S ir :— You had the kindness to publish, in the January number
o f your valuable Magazine, the Preface to a work, entitled, “ Labor and
Other C a p i t a l I take the liberty to send you some further extracts from
the manuscript, which I expect to have in print in the month o f August.
Yours very respectfully,
e . k .
New York, May, 1848.

The injustice of the present distribution o f products is still more con­
spicuous when we consider that present labor is indispensable to human
existence. Although all discoveries, inventions, and improvements, made
by all previous labor, are transmitted free o f expense, to successors, yet
the property thus improved and inherited cannot give support without
present labor. The spontaneous productions of the earth could not supply
one-twentieth part o f them with food. Clothing could last but a few years,
and buildings, unless repaired, would decay. Each generation must pro­
vide its own means o f subsistence.
I f a generation enact laws through which one-third o f the succeeding
generation can live in luxury without labor, then the labor o f the other
two-thirds, besides supplying their own wants, must also supply the wants
o f the first third. Although the idle rich man inherits wealth, he owes
his present support to the labor o f others. Others must raise the grain that
he consumes, manufacture cloth for his use, build his house, & c.
If one-third o f a generation own all the property, they have the means
o f supplying their wants by labor upon their own possessions ; but the
two-thirds who have no property have not even the means o f preserving
their lives, unless the one-third allow them the use o f property on which
to expend their labor. Under present laws, then, the owners o f property
have power to decide what part o f the products of labor shall be given to
them for the use o f property, and laborers are compelled to make their
agreements with them under these circumstances. Undoubtedly both par­
ties are governed by their own interests in making their agreements ; but
the circumstances under which contracts are made, render them very un­
just toward laborers. Suppose one o f the contracting parties to be on
land, and the other in water, where he must drown unless he purchase
assistance from the first. Although he might be well aware that his friend
on shore was practising a very grievous extortion, yet, under the circum­
stances, he would be glad to make any possible agreement with him to be
rescued. The monetary laws o f nations have depressed the producing
classes to a similar state of dependence on capitalists, and they are simi­
larly obliged to make their contracts with them under great disad­
vantages.
Present laborers who produce present products, should receive a very
* Being an exposition o f the cause o f the wealth o f the few and the poverty o f the many,
and the delineation o f a system, which, without infringing the rights of property, will dis­
By E d w a r d K ellog g , author o f “ Cur­
rency, the Evil and the Remedy.”

tribu te the wealth to those whose labor earns it.
VOL.

X V I II .— n o . V I.




40

626

Labor and Other Capital.

large proportion o f them ; and capitalists who do not labor, should receive
a correspondingly small proportion. H ow shall this change in the reward
o f labor and capital be effected? Shall laws be made to determine the
prices o f various kinds of labor, and thus prevent the laborer and employ­
er from making contracts upon their own terms ? This would be imprac­
ticable, and if practicable not desirable. Each man should be at liberty
to make his own contracts. There is no need o f interference with this
liberty in order to prevent capital from taking too large a proportion o f
the products o f labor.
*

:je

^

Ht

The following statement will show the different effects upon our own peo­
ple from the use o f the precious metals as metals, and their use as the material
o f money. Probably all will admit that there are twelve thousand fami­
lies in the city o f N ew York, each owning on an average $800 worth o f
gold and silver ware, such as tea, coffee, and dinner services, vases, orna­
ments, & c. Including jewelry, the amount o f the metals would probably
far exceed the sum named. But calculating the twelve thousand families
to own on an average $800 worth each, they will own in the aggregate
$9,600,000 worth, while, according to the Bank Reports, the specie in all
the banks in the State o f New York, on the first day o f November, 1847,
amounted to but $8,048,348. Suppose the twelve thousand families own­
ing these silver and gold utensils and ornaments, should collect them to­
gether next week, and ship them to England,— the shipping o f these wares
would have no more effect upon the monetary affairs o f the nation, or upon
business, than the shipping o f the same amount in cotton and tobacco.
But, let the people draw the $8,048,348 o f coins from the banks next
week, and ship them abroad, and what would be the effect upon our mone­
tary affairs, our business, and our labor? The banks throughout this
State, and throughout the United States, would suspend specie payments,,
and hundreds o f thousands o f our people would be broken up, and thrown
out of employment. Yet by shipping the gold and silver wares, more than
one million and a half more o f the precious metals would leave the coun­
try than by shipping the coins. The shipment o f the smaller amount
would shake the country to its centre, while the shipment o f the larger
amount could not unfavorably affect business. Yet the gold and silver
utensils and ornaments are more in use than the coins ; for the coins are
mostly in kegs and boxes in vaults o f banks, and if they are moved at all,
it is usually from the vault o f one bank to that o f another, without even
emptying them from the kegs. If money is merchandise, why would not
the shipment o f these gold and silver utensils affect the business o f the na­
tion as much as the shipment o f the coins ? The same twelve thousand
families are doubtless at this time the owners o f a much larger amount o f
the capital stocks o f the banks than the $9,600,000, and if they choose, can
at any time sell stock enough to draw all the specie from the banks, and
can thus cause a suspension o f payments and distress producers, even
without shipping the specie,
*

*

*

*

*

*

*

The State o f New York is deemed very prosperous, and thought to be
rapidly increasing in wealth through its industry and enterprise. A table
in the New York State Register for 1840, exhibits the actual gain o f the
people o f the State for ten years, viz, from 1835 to 1845, according to
the assessed value o f the property. The table shows that in 1835, the




Labor and Other Capital.

627

corrected aggregate valuation o f the taxed real and personal estate in the
State o f New York was $530,653,524, and that, in 1845, it had increased
to $605,646,095. In the ten years, the people o f the State added to their
wealth $74,992,571, equal to $7,499,527 a year, or a fraction over 1T4?
per cent per annum on the capital employed. This calculation is made
without any payment o f interest until the expiration o f the ten years.
Taking the above as a fair valuation o f the property, the people o f the
State added only about l r4„ per cent per annum to their capital, and the
legal interest o f the State is 7 per cent, and is usually paid oftener than
yearly. I f the people had rented the State o f a foreign nation, and at the
end o f every six months we had taken up our obligations, and added in the
six months interest, at the end o f ten years we should have added to the
principal over $524,000,000. W e should have owed the foreign nation
in interest or rent a sum seven times greater than all that we earned over
and above our own support. I f we earned only $74,992,571 more than
our own support, how could we return the property to its owners, and pay
them $524,000,000 o f rent, or seven times more than our labor would
produce ? Yet the laws o f the State fixing the interest at 7 per cent, make
a requisition equal to this upon laborers in favor o f capital.
For this reason, every few years, thousands are plunged into poverty,
and a few amass enormous wealth. These periodical depressions do not
arise because the people have not labored, nor because the earth has not
brought forth her increase. In the midst o f our prosperity there is suddenly a want o f money. Manufactured and agricultural products sell at
greatly reduced prices, and business becomes paralyzed.
Capital en­
grosses by its legal accumulative power the productions o f labor. There
is no mystery about this matter o f production by labor, and o f accumula­
tion by interest. Wealth is manifestly the product o f labor, and not the
product o f interest or rent. Interest on money loaned or invested in prop­
erty is merely a legal power, by which the lender o f money and the owner of
property can compel the borrower and the tenant to procure and sell the pro­
ducts o f labor in order to pay the interest and the rent, while the former
receive their incomes without any productive labor. The monetary laws
o f nations found and perpetuate the greater part of their social evils.
According to the assessed valuation o f the property o f the State o f New
York, the increase o f its wealth from 1835 to 1845 w'as about 1T4F per
cent per annum, without compounding the interest. This was a period
o f only ten years. It is probable that in 1835 property was estimated
higher in proportion to its actual worth than in 1845. This statement,
then, would not be an exactly fair criterion o f the actual increase o f wealth
in the State. During that period, according to it, w'e gained, beside our
own support, only a fraction over 1 per cent a year by all our labor. If
this were a correct estimate o f our gains, we became poorer during the
ten years, for the population o f the State increased during that period from
2,174,517 to 2,604,495, or a fraction less than 2 per cent a year. I f we
gained but l T1ff per cent in wealth, the population o f the State increased
more rapidly than its wealth; and the aggregate wealth o f the State, in
proportion to its population, was less in 1845 than it was in 1835 ; and
this, I presume, was not the fact. Still, there is little doubt that at least
one-half the people o f the State were poorer in 1845, and are now poorer
than they w'ere in 1835. The increased wealth is accumulated in fewer
hands. More and more o f the earnings o f the producing classes are re-




628

Sandford’s Chancery Cases.

quired to pay the yearly rent or interest on the yearly increasing capital.
I f the men who are now rich, had in 1835 an income that abundantly
supplied their wants, an increase o f wealth has not added to their happi­
ness ; and the increase has been taken from those who toil, and yet are
suffering for the necessaries o f life. Without improving the condition o f
the rich, we are continually doing a wrong to a large class o f worthy and
industrious citizens.

Art. V III.— S A N DFO K D ’ S C H AN C E R Y C ASES.*
T h i s is the third o f a series o f four volumes, which will contain all of
Vice-Chancellor Sandford’s Decisions in Equity. It gives the decisions
made by him, as Assistant Vice-Chancellor o f the First Circuit, from Au­
gust, 1845, to August, 1846. He was last year elected one of the Justi­
ces o f the Superior Court o f the city o f New York, and we understand
that the reports o f the decisions at law and in equity o f that Court may be
looked for from the same able and learned reporter, whose decisions, as
Judge in Equity, are presented in this series in so authentic a form.
O f the manner in which this volume has been published, it would be injustice to say less than that, like the others o f the series, it is no way in­
ferior to the style o f the English Reports, and entitles the publishers to
high praise, and something more substantial too.
This volume contains not only decisions o f importance to the legal pro­
fession, but also cases o f much interest, we may say, entertaining cases,
for the general reader.
That large class o f readers who set down all the literature contained
"within yellow leather covers as necessarily dull reading, and who, if they
make any exception in favor of such writers as Blackstone and Kent, never
think o f looking for entertainment in a book o f reports, would be surprised
at the large amount o f interesting matter to be found in this volume o f de­
cisions. Free from technicalities, for the most part, written in Chancellor
Sandford’s clear and direct style, involving interests and relations o f every
day’ s experience, many of them require but the courage to make a begin­
ning, to fix the attention o f any reader.
The case o f Clark vs. Sawyer, (pp. 351-427,) involving the validity
o f a will, executed by the testator when in an infirm state and advanced
in years, and alleged to have been obtained by undue influence, although
very long and very detailed, really turns upon the single and simple ques­
tion o f fact, o f the undue influence.
The case o f Loomer vs. Wheelwright, (pp. 135-162,) contains an im­
portant decision on the law o f surety in connection with that o f mortgage,
and is a fine specimen o f what has been finely called “ the high morality
o f the system o f equity.”
The decision in Thompson vs. The Harlem Railroad Company, is in
conformity with the great case o f the Warren Bridge, (11 Peters U. S.

* Reports o f Cases argued and determined, in the Court o f Chancery o f the State o f
N ew Y ork, before the Hon. Lewis H. Sandford, late Vice-Chancellor o f the First Circuit,
Vol. III. N ew Y o r k : Published by Banks, Gould & Co., Law Booksellers, N o. 144 Nassau-street.




Mercantile Law Cases.

629

Reports, p. 420,) which decided that a grant by the legislature o f an ex­
clusive franchise to build a bridge and take tolls, although it deprives oth­
ers o f the privilege o f doing the same, does not restrict the right of the
legislature to make future grants o f a similar franchise to others.
Apart from the entertainment to be found in a volume o f decisions such
as this, there is another consideration, which should have weight with
non.professional readers in the State o f New York. Are they aware that
they may themselves, possibly, be called upon to decide cases in equity 1
Under the new system o f procedure established in New York, by which
the jurisdictions at law and in equity are not only so blended as to be ad­
ministered by the same tribunals, but are to be administered with the same
forms and modes o f trial, many o f those kinds o f action formerly known
as chancery suits, instead o f being tried by a chancery judge, like the ca­
ses reported in this volume, will be tried by juries ; and it will become the
duty o f the juryman, as it was the duty o f the judge, to weigh facts, and to
decide preponderances o f testimony, precisely as is here done by the
learned Vice-Chancellor. And it is our deliberate opinion, that the future
equity juryman can in no better way prepare himself for his duties than by
carefully studying a few books o f equity reports like the third volume o f
Sandford.

MERCANTILE
LEADING

CASES

IN

LAW

CASES.

MERCANTILE

LAW*

T his volume contains the select decisions of the leading cases in the different

branches of the law, but more particularly leaning to the adjudged decisions of
the Maritime Law. That this work was needed by the legal profession and busi­
ness man, none will pretend to deny. The law embraces a vast field. It includes
every human transaction, however minute. It bounds and limits every pursuit,
and draws its line around every object. It is the safeguard of every society, and,
like the Palladium, it will ever preserve it, and if taken away it will cease to ex­
ist. The preservation of social rights and privileges was the object of its institu­
tion. It has gone on and advanced for centuries, increased until its volumes are
almost numberless, as civilization has advanced, and society required its assist­
ance. In its first organization, its principles were few and simple. Man was
just emerging from a state of nature, and needed the protection only of his life
and property; but as that property became extended by individual industry, and
trade and barter became employed, man stood again in need of the law’s assist­
ance to declare the validity of contracts, and govern and sanction them. Then
the law had to be enlarged, to meet the wants of the growing community. But
business, in its progressive course, opens new channels for enterprise, and, like
the tide, it swells and increases as it flows, from the addition of numerous tribu­
taries. Its increase involved new points and new controversies, and again the
law had to receive an addition to pronounce upon them. Thus, as civilization has
* Select Decisions o f American Courts in several departments o f Law, with special
reference to Mercantile Law. W ith Notes, by J. I. C l a r k H a r e and II. B. W a l l a c e .
Vol. I. Philadelphia: T . & J. W . Johnson.




630

Mercantile Law Cases.

inarched, and increasing commerce has shown the business relation of men in
every phase and feature of multiplied variety, legislatures have added statutes ac­
cording to the successive wants of the community, until the edicts of the law,
which are held to be omnipotent, have become like the animalcules of nature, al­
most numberless. Decisions differ upon the same points in the different States;
and even when a case arises under similar circumstances to" one already pro­
nounced upon, in the investigation an additional word, and even a look, will make
it differ so essentially from the old precedent, that a contrary adjudication is given
on its merits. Thus every one is complaining of this “ glorious uncertainty of
the law.” Since commercial pursuits have become so extended that they embrace
and generate every species of new contracts, with their slight shades of difference,
the law is still more perplexed and confused. When a business man becomes
harassed with a doubt, by the newness or intricacies of a transaction, that doubt
is not removed, even when he obtains the opinion of one of the legal profession.
The lawyer himself sometimes has no clew to the mazes of the labyrinth. He
sees decisions on the points called in question, yet there are contrary decisions
ready to confute them. And even at best, when he appears most certain, and
gives a confident opinion, how often is that opinion upset by a judicial decision!
W e are speaking now of good lawyers—men eminent, and rising in their profes­
sion ; and not alluding to the rubbish that, in the human form, throng in its ranks—
men who are not formed by education, principle, or nature, to belong to any pro- ^
fession, but to degrade it. Then, if good lawyers be mistaken, it may seem at
first sight to contradict one of its leading maxims: Ratio est anima legis—Rea­
son is the life of law— since reason has but one letter and one decision; but it
is not so. Every mind is not constituted alike; they reason from different pre­
mises. What may seem fact to one is absurdity to another, and hence the va­
riety of decisions differing upon the same points. We hail this book as removing
many difficulties. The authors have gone into a long and laborious search; they
appear to have seen precisely what the public needed, and have supplied its wants.
They have compared and brought the leading decisions to a point. They have
given, to the business man and to the lawyer, visible landmarks, without the trou­
ble of ransacking a library for information. The cases selected evince the great
learning and ability of the authors, as well as great diligence and research. They
have drawn those little lines of difference, between evident analagous cases, that
generally lead to so much confusion, with precision and judgment. W e have
drawn largely from it, in a condensed form, in our citement of cases on Agencies,
Contracts, and Insurance. W e do not allude, in the following decisions, to points
that are familiar to the commercial and business man, but only to such, from their
intricacy and research, it was presumed, should they occur, would perplex him.
1. The appointment of agents can either be by express or implied authority.
2. An express authority delegates to an agent certain powers, to perform par­
ticular acts, which he cannot in any way transcend, that will be binding upon the
principal. (26 Wendell, 193. 18 Johnson, 363, 366.)
3. Yet if a principal authorize an agent to execute a particular transaction,
without pointing out the mode in, or by which it is to be executed, it is to be un­
derstood that he delegates to the agent the proper powers to execute the transac­
tion. (Peck v. Harriott, 1 Wendell, 4.) Thus, it has been decided that a spe­
cial agency to sell chattels of any description, to procure subscribers to a joint
stock company relating to land, implies (unless forbidden) an authority to bind the
principal by a warranty, or representations respecting the quality or condition of




Mercantile Law Cases.

631

the subject of the contract, such being the usual means of accomplishing the pro- ,
posed end. (Sandford v. Handell, 23 Wendell, 260.)
4. It must be borne in mind that there are a class of cases, governed by pecu­
liar customs, that do not come under this head. Thus, if I make an auctioneer,
a broker, or factor, my agents, to execute business strictly appertaining to their
vocation, and restrict their powers, yet they can bind me as their principal, to any
one ignorant of this private restriction, to the full scope of their customary pow­
er. (Nickson v. Brohan, 10 Modern, 109.) But the case would entirely be the
reverse, if the restrictions had been given to a person not having these general
powers. (Sandford v. Hardy, 23 Wendell, 260, 266.)
5. For if a person send to an auctioneer a horse, with a strict command to sell
that horse at private sale, the custom of the auctioneer being to sell always at
public sale, if he sells the horse at public sale, the sale will be binding upon the
principal. (10 Modern, 109.) But otherwise to a man not an auctioneer.
6. The general principle of contracts is this:—A contract made bom fide, with­
out any intention to defraud, and not against the law, is binding between the re­
spective parties; and if no provision to the contrary, between their heirs and re­
presentatives. (Story on Bills.) Every contract must be supported by a consid­
eration and a promise if executory, and the consideration and promise does not
violate any existing statute. Thus, a promise by a man to a merchant to come
next day and carry some goods at a distance, does not bind him without it is in
writing, (which is prima facie a consideration,) or the merchant tender him an
earnest to bind him. (Story on Contracts.)
7. So, also, if a merchant promises to sell a lot of goods to another at a future
day, and the contract is parol, he is not bound by that contract, unless he receives
an earnest as consideration. (Story.) A promise, by itself, not being sufficient
to support a contract, unless accompanied by the consideration.
8. It has been decided that the deck load of a ship does contribute to the gene­
ral average, but is not contributed for, which is the source of the great, difficulty
which owners have for insuring the deck cargo. For instance: A ship sails for
the West Indies. On the voyage she meets with a storm that endangers the
whole cargo. To preserve a portion of the cargo, the captain of a vessel throws
a portion of it overboard, some from the deck and some'from the hold. All that
is taken from the hold is valued, and the remaining cargo saved, according to its
respective valuation, must contribute to the loss of that which preserved it. But
not so with the deck load. What was thrown overboard is not valued, and the
cargo saved does not contribute; while the portion saved on deck is valued, and
has to contribute its respective proportion to the loss of the cargo thrown over­
board, saving that which is thrown from the deck. Yalin thinks this unjust, and
assigns, as the probable reason of its being a law, that the deck loads incommode
the management of a ship, and therefore should not be on the same terms with
the other cargo, which endangered nothing. (Phillips on Insurance.)

ADVANCES UPON BILLS OF LADING.

Before Mr. Baron Rolfe and a Special Jury, at Liverpool, (England.) April
6th, 1848. Van Casteele and another v. Booker and others.
Mr. Watson stated the case. The plaintiffs are general commission merchants
at Rotterdam, of great respectability, and the action was brought to recover the
sum of £11,000, the value of a quantity of coffee sent to this port by the ship
Vigilant, and the defendants are the assignees of Messrs. Barton, Irian, and Higginson, of this town, who became bankrupts in the month of November last year,
and the question was one of great importance to the commercial interests of
the country. The action was brought to recover £11,000, the money advanced
bonafideby Messrs. Van Casteele and Knight being upwards of £6,000. There
was a gentleman in this town named Lyon, who was also a partner in the house
of Lyon and Schwinde at Rio Janeiro, and also in the house of Lyon and Benn,
at Bahia, and in the course of the last autumn Mr. Lyon mentioned to a gentle­




632

Mercantile Law Cases.

man named Rabus, that he would have some cargoes of coffee from the Brazils,
for which he wanted a market and consignees. In the course of a short time
Mr. Rabus wrote to the plaintiffs to know if they were willing to take a cargo of
coffee, and upon their replying in the affirmative, Mr. Lyon wrote to them, for­
warding the bill of lading, upon which they advanced £5,504 16s. 8d, The bill
of lading stated that the cargo was deliverable to order or assigns, and freight
free on board the Vigilant. The vessel arrived in the Mersey on the 3d of De­
cember, and on the next morning the defendants took possession of the vessel and
her cargo, and the plaintiffs were consequently obliged to bring this action. Un­
der the Factors’ Act it was enacted that the shippers on a bill of lading shall be
deemed to be the true owners thereof, so as to enable the consignees to have a
lien thereon, and any person entrusted with a bill of lading may pledge the cargo
for any advances made thereon. It would, therefore, appear that Lyon, Schwinde,
& Co., having endorsed the bill of lading, were the true owners, and Mr. Lyon
was their agent, and he having endorsed the bill of lading to the plaintiffs, they
had a title that was indefeasible. The bills of lading were sent to England by
the Racehorse brig-of-war, and, in the month of October, Mr. Lyon hearing some­
thing about the connexion of Barton, Irlam, and Higginson, with the Royal Bank,
and having cargoes in four ships belonging to the firm, was anxious to secure
them ; saw Mr. Higginson, and persuaded him to cause the bills of lading to be
handed to him. Having concluded a statement of great length, the learned gen­
tleman called the following witnesses :—Captain Renyell, master of the Vigilant,
Mr. Rabus, and Mr. A. W . Lyon.—His lordship said, that the only question at
issue was, to whom did the cargoes belong, whether to one creditor or the general
body ? It was agreed that the opinion of the Court should be taken as to the
amount which the plaintiffs were entitled, viz, the value of the amount of coffee
on the 28th of November, or whether they were entitled to more than the amount
of advance.—Mr. Martin addressed the jury for the defendants, observing that the
real question for the consideration of the jury was, whether the transactions be­
tween Mr. Jonathan Higginson and Mr. Lyon did not constitute that which the
law viewed as a voluntary and fraudulent preference, and which could not stand
against an act of bankruptcy. The fact was, that the day after the document
which had been adverted to was delivered, Mr. Higginson having had twenty-one
days’ notice, had committed an act of bankruptcy, at the time owing a million of
money, and not one scrap of merchandise of any description to go to his creditors.
This was, indeed, a startling fact. The learned gentleman next stated that Mr.
Higginson was indebted to the Royal Bank of Liverpool to the extent of £463,000,
and it was not till after repeated applications had been made to him for a liquida­
tion of the debt, and the service of the notice in question, that he had transferred
the bills of lading in question, and this was done for the purpose of favoring Mr.
Lyon, to the prejudice of the other creditors. In conclusion, he said that he
should confidently rely upon the jury returning a verdict for the defendants. The
learned gentleman then called the following witnesses:—Mr. Henry Parsons,late
managing clerk to Barton, Irlam, & Co., Mr. Higginson, and Mr. John Highfield,
one of the directors of the Royal Bank. Mr. Watson replied, stating that, if the
verdict were not for the plaintiff, it would be one of the greatest discouragements
that could be inflicted upon commerce, for in future no one would make advances
upon bills of lading. His lordship having summed up, the jury retired at half-past
five, and, after an hour’s deliberation, returned a verdict for the defendants-




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Commercial Chronicle and Review.

COMMERCIAL CHRONICLE AND REVIEW.
E F F E C T O F E U R O P E A N U P O N A M E R IC A N I N T E R E S T S — M O V E M E N T

1847,

OF S P E C IE , P O R T OF N E W Y O R K , F R O M

1848— C O M M E R C IA L P O L IC Y OF T H E F R E N C H P R O V IS IO N A L G O V E R N M E N T —
F R E N C H R E V O L U T I O N OF 1790— IS S U E OF A S S IG N A T S F R O M 1790 T O 1796—P R IC E S OF F R E N C H G O V E R N ­
M E N T S T O C K S F R O M 1797 T O 1848—T H E E F F E C T S O F T H E C H A R T I S T M O V E M E N T IN E N G L A N D O N C O M ­

NOVEMBER,

TO M AY,

M E R C IA L A F F A IR S — C O N D IT IO N OF T H E

B A N K OF E N G L A N D — P R IC E O F C O N S O L S— E X C H E Q U E R B IL L S —

A S P E C T OF E U R O P E T O H O L D IN C H E C K T H E
D E B T — S P E C IE

IN B A N K S

OF E N G L A N D A N D

P R O D U C T IO N O F G O L D IN R U S S IA F R O M

1819

C O M M E R C E OF T H E U N IT E D S T A T E S — N E W Y O R K S T A T E
F R A N C E — IN B A N K S OF N E W Y O R K A N D N E W
TO

1847— T H E

ORLEAN S—

M IN E S OF M E X IC O — T H E R O T H S C H IL D S , E T C .

T h e past month has been marked by continued fears in relation to the effect of
passing events in Europe upon American interests. There was some prospect
of recovery from the distress caused by the commercial revulsions in England,
when the revolution of February 25, in Paris, again renewed the want of confi­
dence, and by making a large amount of American produce that had been shipped
unavailable, through distrust of those on whom bills were drawn, renewed the
drain of specie. The demand for the precious metals on New York has been,
since October, as follows:—
MOVEMENT OF SPECIE, PORT OF NEW YORK, NOVEMBER 1 TO MAY 17.
Import.

Export.

Nett export.

Duties paid.

November..............
Decem ber...............
January...................
February................
M arch.....................
April........................
M ay.........................

$58,915
39,712
48,030
49,502
22,781
65,917
18,280

$1,455,946
1,888,867
1,183,517
433,226
452,507
1,180,422
1,600,000

$1,397,031
1,849,155
1,135,485
383,724
429,726
1,124,505
1,681,720

$1,024,766
856,576
2,305,017
2,416,497
1,553,003
1,686,506
554,875

Total demand.

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

$303,139

$8,194,485

$8,001,346 $10,397,244 $18,398,476

$2,421,797
2,705,731
3,440,502
2,800,221
1,982,729
2,811,011
2,236,595

These give the figures as represented by the New York official returns. They
do not, however, embrace either the amounts sent from New York to Boston for
shipment, or those large sums received from abroad through emigrants, and not
returned at the custom-house. These last are known to be considerable. In fact,
the New York Banks, which held $9,000,000 November 1, had lost but $2,000,000
May 16. Very considerable sums had, however, been received, from the country
banks following the course of exchange, which is everywhere in favor of New York,
arising from the considerable purchases of goods for the country. While produce
sent down has sold in small quantities, and at very low rates, at the same time
foreign bills have been scarcely available in New York; therefore a very consid­
erable resource has been cut off. This state of affairs gives rise to rumors injuri­
ous to the credit of many banks. The state of the exchanges depends, in an emi­
nent degree, upon the course of events in Europe, particularly in France, where
one of the chief features has been the continual encroachments made by the Pro­
visional Government upon the rights of private property. The creed of the domi­
nant party in Paris embraced “ respect for property,” and this, no doubt, very
many men honestly adhere to ; nevertheless, it is certain that the current of events
is such as to realize the prophecy of M. Blanc, in his address to the workmen, that
“ the peril to capitalists would be very great.” The Provisional Government has
expended an enormous sum of money during the time it has been in power.
It found in the Treasury 200,000,000 francs when it came into office, in addi-




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Commercial Chronicle and Review.

lion to the crown plate and jewels, and its distresses are now very great. In
accordance with these distresses, it resorts to most stringent means on its own
account, as well as on behalf of the crowds of people it has withdrawn from pro­
ductive employments to live at the public expense. The leading attacks these
measures have caused it to make upon private property are, a decree to assess
all funds and mortgages 1 per cent; the seizure of the private property of the
ex-king, his inheritance as Duke of Orleans, and which descended in the family
through all former convulsions ; the seizure of the Paris and Orleans line of rail­
ways for the benefit of the government, preparatory to taking possession of all the
others, in exchange for 5 per cent stock—the government, however, under the
influence of strong representations, show a disposition to refer this measure to
the National Assembly; the taking possession of all private factories and work­
shops not in operation in the same manner, that is, in exchange for 5 per cent
stock, and the government to organize the work “ on shares,” the workmen to
divide the profits; and the decree suspending the payment of banks yet solv­
ent, with the view to borrow their money. Each and all of these measures
are a spoliation of property. The issues of 5 per cent stock for all these
purposes, including the deposits in the savings banks, would of itself amount to
an incredible sum, and sufficiently depress the price even if means were provided to
pay the interest, which is not the case. The public debt is already sunk to a point
so low as to have ruined all connected with it, and the dividends are payable
in depreciated bank paper. The revolutionary government of 1790, when embar­
rassed, had an immense resource in the lands of the clergy. These, with the pub­
lic domain, Talleyrand proposed to apply to the service of the state, for the rea­
son “ the church was not proprietor by depository of the estate.” A sale of
$80,000,000 worth was decreed, but no one would purchase. It was then decreed
that $75,000,000 of notes bearing 4 per cent interest, receivable in payment of
lands and called “ assignats,” should be issued, under solemn pledge that no more
should be issued. This was done, and their issues circulated at par. But, four
months after, $150,000,000 more were issued. These did not depreciate much,
but from that time the issues were without stint or limit, and continued to fall,
until, in 1797, they were worth nothing, and ceased to circulate. The issues
were as follows:—■
JSStJE OF ASSIGNATS FROM 1790 TO 1796.
Dollars.

Francs.

March, 1790.........................................
July, 1790..............................................
T o September, 1792............................
August, 1793...................................
“
1794...................................
January, 1795................................
March, 1797....................................

75,000,000
150,000,000
281,250,000
201,375,000
117,500,000
675,000,000
6,973,500,000

Total issue.............................................
Redeem ed.............................................

8,437,625,000
1,687,500,000

45,000,000,000
6,000,000,000

Outstanding..........................................

6,750,125,000

36,000,000,000

or

400,000,000
800,000,000
1,500,000,000
1,076,000,000
624,000,000
3,600,000,000
37,000,000,000

Value.

Par.

90 cents.
80 “
7 «
} e on $ 1

It is observed that, for several years, the value was pretty well maintained by
making them a legal tender and paying them out in all directions, until they fell
to nothing in 1797, and the government then repudiated the whole. The public
debt had been converted into annuities, or the present form of rentes, under Cambon, and the total amounted to $55,000,000 per annum. It was decided to pay




635

Commercial Chronicle and Review.

one-fourth of the interest in money, and the remainder in the paper. This, of
course, was repudiating 75 per cent of the debt. Since that moment the price of
the 5 per cent stocks in Paris has fluctuated as follows :—
PRICES OF FRENCH GOVERNMENT STOCKS.

Five per cents.
Highest.
F ra n cs.
1 7 9 7 .......................

L ow est.
F ra n cs.
100
6 .1 6

Three per cents.
Lowest.

H ighest.
F ra n cs.

F ra n cs.

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

44.

0

1 7 .3 8

1 8 0 4 .......................

5 9 .7 5
8 3 .5 0

5 1 .0 0
7 6 .5 0

80.

0

4 5 .0 0

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

8 1 .6 5

5 2 .3 0

1 8 1 6 .......................

6 4 .4 0

5 4 .3 0

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

1 0 6 .1 5

9 6 .5 0

6 8 .6 2

7 1 .2 0

1 0 9 .6 5

9 1 .7 5

7 0 .0 0

6 8 .2 0

9 3 .4 0

7 5 .0 0

6 0 .5 9

4 6 .0 0

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

1 2 6 .3 0

1 2 3 .2 0

8 6 .6 5

8 4 .3 0

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

1 1 6 .7 5

1 1 6 .8 0

7 4 .0 0

7 3 .2 0

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

9 7 .5 0

8 9 .0 0

5 0 .0 0

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

5 2 .1 0

5 0 .0 0

3 7 .0 0

3 3 .0 0

4 4 .5 0

4 1 .5 0

4 5 .5 0

4 5 .2 5

it
((

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

1 8 3 0 .......................
K

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

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

“

2 6 .............

6 8 .0 0
6 5 .5 0

6 2 .2 5
6 2 .2 0

4 7 .0 0

The quotations have been, it appears, for the 5 per cents, less than during the
one hundred days of 1814, having fallen, under the administration of the Provis­
ional Government, 39 per cent in one month ! The 3 per cents, first created in
1825, have fallen 14 per cent! and are now 50 per cent lower than the lowest
price resulting from the revolution of July, 1830. The prices quoted now are,
moreover, merely nominal; no sales to any extent could be made anything to ap­
proach these prices. It is also to be remembered that the interest, as yet, is pay­
able in a medium (notes of the Bank of Prance) but little depreciated, and that this
medium is becoming the only resource of the government, and will inevitably
follow the same course as did the assignats, and more rapidly, because the govern­
ment has now no vast estates, like those formerly possessed by the church, to form
the basis of the issue. The speedy and inevitable repudiation of the whole must
be the consequence; and all property, of what description soever, the government
takes possession of at par for its 5 per cent stocks, will be virtually confiscated.
The Messrs. Rothschild took the 250,000,000 franc loan in November at 75.
The loss on that stock is 44 per cent even if present prices could be realized, and
the amount of the loss on that stock alone must be £4,400,000 sterling. The
London Times estimates the joint property of all the brothers at £26,000,000
sterling. One-fourth of this is consequently lost in one operation if they keep
their engagements. Their interest in the stocks of all other countries must make
a considerable hole in the balance. If they do not keep their engagements they
are but broken stock-jobbers. In this danger which besets property in France, the
disposition of capital is to emigrate as fast as it can be realized ; and this effort to
realize, beyond all former precedent, is the main cause of the rapid fall in prices.
When the result of the elections was known, and the moderate members of the go­
vernment were supported to the condemnation of those ultraists to whom the de­
crees above alluded to were ascribed, confidence began again to revive, as indica­
ted above in the advance of rentes from April 7 to May 5.
The Chartist movement in England is also fraught with the gravest consequen­
ces. Should the Chartists succeed in the objects to which their efforts are now
directed, the debt may be speedily repudiated. Should they not succeed, contin-




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Commercial Chronicle and Review.

lied civil commotion will unsettle the security of property, paralyze the circulation
of capital, and destroy the activity of industrial employments. In all this the
United States can but anticipate a loss of markets for produce, and a large acces­
sion of capital to arrive at the seaboard. The apparent triumph of the government
on the 10th April does not seem to have satisfied capitalists so as to restore con­
fidence, nor in any degree to have promoted a disposition to embark in enterpri­
ses ; on the contrary, increased caution is manifest.
The change being produced in the money affairs of England by reason of the
apprehensions growing out of the disturbed state of the kingdom, is very apparent.
The actual state of money affairs, the condition of the markets, and the tendency
of prices, are far better indications of the true state of public feeling than all the
newspaper accounts. In fact, the latter may be said to be as effectually under
the control of the police as if a law existed to that effect. The aristocracy
and middle classes, or what Louis Blanc calls the “ Bourgeoisie ” in France,
control the press in England, and the mendacious character of the London papers
is known throughout the world. It is stated on good authority that the number
of Chartists assembled at the late demonstration was 260,000, and that the head
of police sent a note to all the papers requesting that the number should be stated,
■at 15,000 ; and, with singular unanimity, all the papers did state 15,000, as if the
reporters had all counted, and counted accurately. The newspapers affect to
laugh, and, in Parliament, the members “ grin horribly a ghastly smile ” when
talking of Chartists; nevertheless, the fears of the community are apparent in
figures. The returns of the Bank of England show results as follows:—
BANK OP ENGLAND.

November 25.
January 2 2 ..
February 5 ...
“
26..
March 4 ........
“
1 1 ....
“
1 8 . .. .
April 1 ..........
“ 8 ..........
“ 22........

Securities.
Deposits.
Nett
Public.
Private.
Public.
Private,
circulation.
£10,863,607 £18,791,117 £7,219,803 £7,866,482 £19.297,756
11,464,665
14,510,363 4,082,448
10,774,870
19,111,880
11,558,914
13,883,592 4,574,063
10,299,027
19,135,955
11,574,921
12,933,241 6,417,011
9,550,889
18,179,755
11,574,921
13,115,456 6,574,785
9,249,804
18.375,615
11,574,921
12,954,702 6,883,063
9,525,211
17,681,020
11,572,180
12,896,563 6,957,392
9,773.110
17,447,090
11,721,566
12,936,289 7,140,125
9,580,384
17,667,865
12,682,866
12,460,152 4,586,084
11,961,862
18,834,651
12,268,630
12,001,566 2,321,338
11,435,742
18,761,865

Notes
on hand.
Bullion.
£4,228,095 £10,016,957
7,447,385 13,176,812
8,074,925 14,021,754
9,922,185 14.760,815
9,830,215 14,873,927
10,544,595 14,947,164
10,967,270 15,123,141
10,876,870 15,210,877
9,767,750 14,602,431
7,860,055 13,228,341

In these figures we have the truth as to the ruinous state of affairs. The dis­
counts of the Bank of England shrink up until they are now scarcely half what
they were in October, and are continually decreasing. It is to be observed that
the private deposits, which, in the stagnant state of business and difficulty of em­
ploying money to advantage, were gradually increasing from October to April 8,
when the payment of the government dividends usually still further increases
them, have recently declined rather than increased, and the amount has been
drawn in bullion to the extent of near £1,500,000, while as much more that ar­
rived from Russia and elsewhere in the same time, has also disappeared from the
public eye. Money is, nominally, very cheap in London; that is, “ at call,” it is
worth but 2i per cent, not so much from the disposition to lend as from the indis­
position to borrow, there being no means of employment safely, notwithstanding
that consuls are at 83J for money, and all descriptions of produce lower ever than
before. Breadstuff's are very cheap, with every prospect of a great rise in price, as
well by reason of the unfavorable weathej in England, as the disturbed state of the
grain districts of Europe; yet not the slightest disposition to operate in any de­
scription of merchandise or public securities is apparent. The results of th«




Commercial Chronicle and Review.

637

Chartist meeting were considered by the English papers and their echoes as es­
tablishing forever the stability of the English government, and, as a consequence,
large investments of European capital in English funds were looked for, but, it
appears, in vain. The prices of consols were as follows at several dates :—
CONSOLS.

•

September 4 .....................................
February 25.................................. .
“
26......................................
March 14..........................................
“
2 4 ..........................................
April 29..................................................
M ay 5 ...............................................

For account.

88§ a 884
88 a 8 8 f
83| a 85§
80| a 81
8 2 f a 83§
824 a8 2 f
834 a 834

E X C H E Q U E R B IL L S .

For money.

87§ a 88
88 4 a 88J
834 a 8 3 f
80| a 8 I 4
82| a 83|
82| a 824
834 a 834

9s.premium.
30s.
“
24s.
“
31s.
“
32s.
“
42s.
“
41s.
“

It is observable that the price of consols, which, under the panic attendant upon
the extreme pressure in November, were at 88, advanced in some degree up to
February 25, when the French revolution was announced in London. On that
news the price fell 10 per cent, but recovered to 83| for money March 24, when
the Chartist movement began to take shape, and at the latest dates, 19 days after
the apparent triumph of the government, they had not recovered the price, al­
though money was so cheap in London. The alleged investments of Europeans
in English funds were evidently very small, at all events not larger than were ex­
traordinary sales by English holders. These consols, which are now dull at 834,
yield 3 4 per cent interest on the investment, while money is, at call, but 2 4 per
cent, and the same consols have lately been as high as 101. Under these cir­
cumstances this low price is to be attributed but to one cause; namely, wellgrounded and deep-seated fears as to the future. The regular organization of the
Chartist movement, under known and tried leaders, is a guaranty that the chief
demand in an extended suffrage will be carried; and the results of an extended
suffrage upon national expenditure, including the annual charge for the debt, are but
too well appreciated, both in and out of England, to permit much property escaping
from the conflagration of Europe to seek safety in such a state of transition a<
England presents. The same want of confidence is apparent in the declining
prices of goods and produce, the stagnation of the home trade, the activity of the
“ pike trade,” and the increasing idleness in the manufacturing districts. In the
United States nothing of this kind presents itself; the public debts are all acknow­
ledged by the people, who vote voluntarily the means of paying the interest, and
the whole system of government springs directly from the masses.
The aspect of Europe is, therefore, such as to hold in check the external com­
merce of the Union, and to create temporary inconvenience by making unavail­
able a large portion of the produce shipped to Europe; while not only the debts
due Europe are promptly paid, but money is required through the financial opera­
tion of branch houses here. The new loan of the government for $16,000,000,
for which proposals are now outstanding, will probably be taken at something over
par. The market price for similar stock in the market is 1044, and the new stock
will have coupons attached, by which it will be transferable to bearer without go­
ing through the ceremonies of the transfer book. This will naturally facilitate
its sale in Europe. The State of New York has a debt falling due July 1, part of
which will be paid, and part renewed in a stock of lower denominations. It will
be remembered, that about the year 1838, under the then policy pursued in rela­
tion to internal improvements, public works multiplied, and the State debt swelled
in amount rapidly, while the State stock fell in value, and a prospective debt of




638

Commercial Chronicle and Review.

$70,000,000 hung over the State to complete works already projected. This ex­
cited alarm, and a change was effected for the policy known as that of 1842, which
was to stop all expenditure and pay off the public debt as fast as possible. This
involved the necessity of contracting $3,000,000 of debt to pay off contractors and
“ preserve the credit of the State.” So low had credit then fallen, that the State
was obliged to borrow at 7 per cent. The policy of paying as speedily as possi­
ble was persev.ered in, according to the spirit of the new constitution. Of the 7
per cent stock, contracted as above, there is due, on the 1st July, 1848, $1,584,736.
Of this, there has been redeemed $346,006, leaving to be paid $1,238,730 ; and there
is provided to meet it, according to the last annual report of the comptroller,
$417,212, leaving $821,517 to be met July 1st. The new constitution appro­
priates annually from the canal revenue $1,300,000, as a sinking fund to redeem the
canal debt; and provides that, if at any time the amount on hand is insufficient to meet
any amount that may fall due, the commissioners of the canal fund may borrow the
necessary amount on the credit of the sinking fund, payable in not over eighteen
years, and at not more than 7 per cent interest. In pursuance of this provision, the
legislature passed, April 10, a law to carry it into effect. On the same day they
passed another law, authorizing the comptroller to borrow as much as would be
necessary to meet the stock falling due July 1st, but without specifying the interest
he is to pay. The comptroller has accordingly issued a circular, dated May 5th, to
ascertain whether the holders of the 7 per cent bonds, due July 1st, will accept in
lieu a 5£ per cent stock, redeemable in 1855.
One of the most remarkable features of the last few years, has been the con­
tinued large amounts of specie that have reposed in the vaults of the banks of
the leading cities of the commercial world. It would seem, so far from an in­
crease of commercial transactions requiring an increase of coin, as those would
teach who hold that there is not specie enough in the world to transact its busi­
ness without the aid of bank paper, that actually the increase of business throws
specie out of employment. As an indication of this process, we may take the
official returns of the banks of four cities at the close of four years, reducing the
sums to United States currency:—
SPECIE IN BANES OF FOUR CITIES.

1841
Bank o f England...................
“
France.....................
Banks o f N ew Y o rk ........
“
N ew Orleans...
T otal...........................

53,015,000
36,984,677
7,244,005
4,586,737

$101,830,419

1844.

1846.

1847.

74,715,735
45,955,653
6,130,456
8,138.987

72,802,530
14,912,965
9,180.240
7,930,246

75,180,227
23,220,647
9,107,920
7,252,103

$104,825,981

$114,760,897

$134,940,831

From 1842 to 1844, the specie at these four points increased $33,000,000, com­
ing out of the channels of circulation when business was active, commodities
plenty, and their interchange, by means of individual notes and bills of exchange,
unchecked by distrust. In 1846, the failure of harvests, by taking away one de­
scription of commodities, caused a demand for the precious metals for an extra­
ordinary purpose, and the Bank of France underwent a drain so severe as to com­
pel it to borrow £4,000,000 specie of the Bank of England. The continuance of
this drain, arising from the same causes, brought the Bank of England nearly to
ruin in October last. The reason of this was not so much the want of specie for the
purposes of trade, as because distrust had fallen upon individual bills, and every­
body, in all countries, wanted specie only. As the engagements outstanding were




Commercial Chronicle and Review.

639

completed, and no new ones entered into, the demand for specie became less and
less, and it continually returned to the bank, until the amount in hand is as large
as at the moment of the greatest confidence. Thus a stagnation of business and
a state of perfect confidence seems to produce the same results; namely, to dis­
pense with coin. The precious metals, therefore, act only in a moment as now,
when nothing else will answer; and it is coming and going across the Atlantic
at great expense, for no other reason than that other commodities are not avail­
able to discharge obligations, and promises cannot be trusted. It is to be remarked,
that while the shortening of communications and the improvements in systems of
trade are thus operating to lessen the importance of the precious metals, the supply
of the latter is rapidly on the increase. The chief quarters whence they are de­
rived now, are Russia and Mexico; the former for gold, and the latter for silver.
The mines of Russia have already become so prolific as to have produced an im­
portant influence upon the affairs of nations. The large supplies that came op­
portunely to the aid of the Banks of France and of England at the moment of the
crisis last fall, alone prevented that general explosion of credit in a state of peace
that is now likely to grow out of a general war.
The mines of Russia are in Oural, discovered i n ------, and in Siberia in 1829.
The quantity produced down to the close of 1846, as expressed in the official jour­
nal of St. Petersburgh, and reduced to pounds and dollars at the English mint
price of gold, is as follows:—
RUSSIAN GOLD TRODUCTION FROM 1819 TO 1847.
Poods.

1819 to 1843..............................
1843
..............................
1844
...................................................................
1845
....................................................................
1846
....................................................................

8,603
1,283
1,341
1,386
1,722

Total poods..........................................................
14,335
Total pounds........................................................
516,060
Value...................................................................... $158,946,480

The Russian pood is 36 pounds avoirdupois; and the English mint price for
gold £ 3 17s. 6d. is, at an exchange of $4 80, equal to $308 per lb., giving the
enormous sum here designated. The production of 1846, exceeding all former
years, is $19,093,536, equal to 124 per cent of the product since 1819. Since
1842, she has produced $64,000,000 of gold, and the Bank of England has
$20,000,000 more in its vaults.
There has been recently published a Parliamentary paper, dated December 3d,
1847, in which a return of these facts is made. The following appears, by the
return of the British consuls, to be the quantity of gold produced in the empire of
Russia in the ten years ending with 1846:—
1837............
1838...........
1839...........
1840...........

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

£900,673 1841.......... ...... £1,316,653 1844
1845
1,004,120 1842..........
2,635,386 1846
1,003,403 1843........ ......
1,115,037

£2,730,647
2,792,156
3,414,427

It is added, in this return, that “ there is reason to believe that considerable
quantities have not been declared.” And, also, that new mines have been dis­
covered in the Oural; while the fact that an Imperial Ukase has lately forbidden
the sale of public estates in the region of the auriferous sands of Siberia, justifies
the inference that the government has made successful surveys in that direction.
In the Ukase of March 31,1847, which orders the investment of £4,600,000 in




640

Commercial Chronicle and Review.

the English and French funds, the “ bullion fund” existing in St. Petersburgh js
stated to amount to 114,000,000 of rubles, or nearly £20,000,000 sterling. This
vast increase of the gold products of Russia has been one result of the long peace,
which has operated powerfully against the Russian staple exports, as hemp, iron,
quills, duck, &c. The growth of hemp in other countries of Europe has com­
peted seriously with that of Russia; the development of the iron trade of Eng­
land has curtailed the demand for Russian; quills have been extensively sup­
planted by steel pens; and her exports of tallow have diminished under similar
competition. All these causes have turned her industry within herself, and the
increased application of serf-labor to the gold mines is producing the results indi­
cated in the above table.
The mines of Mexico have continued to send forth some $12,000,000 of silver
per annum, feeding the circulation of France, where that metal is the standard;
while England has been more than supplied with gold from Russia. In November
last, the arrival of £1,000,000 in gold from Russia was the first opportune supply
that flowed into the vaults of the bank. The large and increasing supplies still
held by Russia, and reported at more than £100,000,000, are a chief element in
the strength which that power has acquired since the last war, and will be a
powerful means of supporting her troops in Europe. In the last wars, she bought
gold of the Messrs. Rothschild for the supply of her military chest; she now
stands in the attitude of the source of supply for all countries and all powers.
The continuance of peace would, in a very short time, have produced a very
sensible depression in the value of the precious metals, by the double operation of
their being less needed in commerce, and greater in supply.
The news by the Caledonia from abroad is rather unfavorable to breadstuff's, by
reason of the fine weather and the promise of abundant crops ; and this, co-opera­
ting with the very favorable accounts of harvests here, has acted adversely upon
the grain interests.
The weekly statement of the Bank of France continues to exhibit a very unfa­
vorable result for the public treasury. From 37,000,000 francs, the last balance
in favor of the government, the credit side has declined to less than 26,500,000
francs, equivalent to about £1,050,000 sterling. With an expenditure equal to
that of the preceding two weeks, this balance in the French exchequer will be
exhausted. The specie had increased 2,000,000 francs, counterbalanced by a de­
crease to about the same amount in the branch banks. The dishonored bills,
amounting to 19,500,000, were still accumulating. The notes of the Bank of
France are no longer payable in specie, but are a legal tender, at Rouen, Havre,
Lille, Orleans, Toulouse, and Marseilles, which, by a decree, are to be in future
branches of the parent bank at Paris. No effort seems to be spared to work out
a general measure of paper circulation.- The Dutch Finance Minister continues
to call in large quantities of 100 florin notes, the total withdrawals now amounting
to 12,895,000 florins. The Belgian Minister proposes, on the other hand, to issue
20,000,000 francs applicable to the Savings’ Banks, which amount, if issued by
the Societe Gdnerale, will be guaranteed by the government. At Vienna confi­
dence was greatly restored. The good faith of the government, as evinced in the
proclamation of the new constitution, had occasioned a considerable improvement
in public securities ; from about 58, they rose on the 25th ult. to 80, and' bank
shares to 1220. They have since declined successively; the last prices on the
27th were 74 ; bank shares 1050 to 70.




641

Commercial Statistics,

C O M M E R C I A L

STATISTICS.

T R A D E OF P O R T O R IC O .

W e are in possession o f an official account o f the trade o f Porto R ico for the years
1845 and 1846. From the general results, it appears that the total value of goods import­
ed in 1846 amounted to $5,550,589, against $6,094,887 in 1845, thus establishing a de­
crease o f $544,298. T he total value o f exports in 1846 amounted to $5,362,019, against
$6,257,699 in 1845, again establishing a decrease o f $888,679. On a comparison o f the
two items o f imports and exports for the year 1846, it will be seen that there is a differ­
ence in favor o f the former o f $181,569. In explanation o f the decrease in the exports
during the latest period, it is stated that it was occasioned by the unfavorable influence of
the dry weather upon the cotton, sugar, and tobacco crops, and that, notwithstanding there
had been an increase in the quantity o f coffee produced, it was far from being equal to the
loss sustained upon the other articles.
T he import and export trade o f the island is represented as distributed in the following
manner, the value o f the merchandise received from each country being specifically set
forth:—
18 4 5 .

18 4 6 .

EXPO RT TRAD E.

Spain, and the adjacent islands...
Cuba................................................
The Antilles...................................
United States..................................
Austria............................................
Belgium............................................
Brazils.............................................
Bremen and Hamburgh................
Sardinia............................................
Denmark.........................................
France.............................................
Holland............................................
England....... ...................................
Canada and Newfoundland.........
Venezuela........................................

$1,393,395
42,806
354,838
1,987,073
13,427
28,364
1,425
352,569
147,465
117,929
635,872
14,934
946,422
211,494
9,680

18 4 5 .
'

$712,542
45,861
335,948
1,645,636
53,124
10,648
398,974
132,327
90,795
1,043,439
4,499
584,872
303,209
8,060

18 4 6 .

IM P O R T T R A D E .

$743,199
509,790
2,501,337
110,185
1,334

$843,954
167,092
2,915,505
1,018,711

686,115
103,751
20,533

249,128
10,685

36,065

49,142

47,689
55,392
279,571

30,098
70,808
195,482

E X P O R T S OF IR O N F R O M G R E A T B R IT A IN T O T H E U N IT E D S T A T E S .
It will be observed, from a reference to the following table, that British exports to the
United States have increased very much during the past year, especially in the finer de­
scriptions o f iron.

The shipments from W ales, direct to the United States, have also

been much in advance o f any former year.
EXPORTS OF IRON FROM LIVERPOOL, IN

T o India, her exports have again been light.

1846-7,

TO NEW T O R E , BOSTON, AND PHILADELPHIA.

Bars.

Hoops & sheets.

Tons.

Tons.

Tons.

6,440
6,642

Rails.

7,026
20,546

901
4,855

Increase..;..........................

202

T o Boston, in 1846.......................
“
in 1847.......................

6,030
5,843

13,520
4,114
13,583

3,954
623
1,670

T o N ew Y ork, in 1846................
“
in 1847...............

9,469

1,047

44
150

1,667
3,414

162
670

106

1,747

508

Increase..............................
T o Philadelphia, in 1846.............
“
in 1847.............
Increase..............................

VOL. XVIII.— NO. VT.




41

642

Commercial Statistics.
T H E L O N G C R E D IT S Y S T E M — IN V E S T M E N T OF C A P IT A L .

The “ D ry Goods Reporter,” conducted by R . R . Boyd, Esq., furnishes the following
table, “ made out with great care and labor.” “ Here the great benefit,” says the editor
o f that journal, “ the sure and speedy accumulation o f profits of a short credit business,
are plainly shown by figures. There is no deception or false reasoning in this. Nothing
could be more conclusive. T he table needs no explanation. It shows that small profits
on short credits accumulate profits at an astonishing rate, compared with large profits on
long credits.
INVESTMENT OF CAPITAL AT DIFFERENT RATES, AND REALIZED AT DIFFERENT PERIODS.
IN V E S T E D E V E R Y FO U R M O N TH S.

Y ea rs. M onths. 5 per cent.
4
1050 00

.

i

per cent.
1075 00

30 per cent.
1 1 0 0 00

12£ per cent.
1 1 2 5 0.0

15 per cent.
1150 00

20 per cent.
1200 00

8

11 0 2 50

1 15 5 62

1210 00

126 5 62

1322 50

1440 00

.

1157 62

1242 29

1331 00

1423 82

1520 87

1728 00

1

4

1335 46

1461 10

1601 80

1749 00

i

8

1276 28

1435 62

1 61 0 51

1802 03

2011 35

248 8 00

.

1310 09

1 54 3 30

1771 56

2027 28

2313 06

298 5 98

2

1215 50

2 0 7 3 60

2

4

1407 10

1659 04

1 9 4 8 71

2 2 8 0 69

2660 02

358 3 18

2

8

1477 45

1783 47

2 1 4 3 58

2 5 6 5 78

3059 02

1551 3 2

1917 23

2357 94

2886 50

3517 87

4299 81
5 1 5 9 78

3

4

1628 89

2061 03

259 3 74

3247 32

404 5 55

6169 73

3

8

1710 33

2 2 1 5 60

2 8 5 3 11

365 3 23

4 6 5 2 39

7430 08

3138 42
3452 27

4109 89

5350 25

891 6 10

4 6 2 3 62

6152 78

10699 32
128 39 18

3

4

.

1795 85

238 1 78

4

4

1885 64

2 5 6 0 41

4

8

5

1979 93

2752 44

3797 49

5201 58

7 07 5 70

2078 92

2 9 5 8 97

4177 24

5851 77

8137 06

15407 02

4594 87

6583 25

9 3 5 7 62

18488 42

5

4

218 2 87

3 1 8 0 79

5

8

22 9 1 01

3419 35

505 4 47

7 4 0 6 15

10761 2 5

2 2 1 8 6 11

6

.

2 4 0 6 61

3675 80

5 5 5 9 91

8331 92

12375 45

266 2 3 33

IN V E S T E D E V E R Y S IX M O N T H S.

321 per cent.
1125 00

1210 00

1265 62

1322

50

1440

00

6

1423

82

1520

87

1728

00

2

#

1331
1464

10

1601

80

1749 00

2073

60

2

6

51

1802 03

2011

2488

32

3

.

1610
1771

56

2027 28

2313 06

2985

98

3

6

1948

71

2280

69

2660 02

2143

58

2565

78

3059

02

3583
4299

18
81

i
l

M onths.
6

15 per cent.
1150 00

10 per cent.
1100 00

Y ea rs.

.

4

.

4

6

00

35

20 per cent.
1200 00

m

2357

94

2886

50

3517 87

5159

78

5

2593

74

3247

32

4045

6169

73

5

6

2853

11

3653

23

4652 39

7430

08

6

.

3138 42

4109

89

5350 25

8916

10

55

I N V E S T E D E V E R Y N IN E M O N T H S .

10 per cent.
1100 00

12£ per cent.
1125 00

M on th s.

i

9
6

1210

00

1265

62

1322

50

1440

00

2

3

1331

00

1423 82

1520

87

1728

00

1464

10

1601

80

1749

00

2073

60

1610

51

1802

03

2011

35

2488

32

4

9
6

56
71

2313

06

2985

98

3

1771
1948

2027 28

5

2280

69

2660

02

3583

18

6

.

2143

58

2565

78

3059 02

4299

81

3
3

#

15 per cen t.
1150 00

20 per cent.
1200 00

Y ea rs.

IN V E S T E D E V E R Y T W E L V E M O N TH S.

Y ea rs.
1

M onths.

10 per cent.
1100 00

12£ per cent.
1125 00

2

1265

3

1331

00

1423 82

4

1464

10

1601

80

1749

00

2073

60

5

1 61 0 51

1802

03

2011

35

2488

32

6

1771

2027 28

2313

06

2985

98




1322

20 per cent.
1200 00

00

56

00

15 per cent.
1150 00

1210

00

1440

00

1520 87

1728

00

643

Commercial Statistics,
IN V E S T E D E V E R T E I G H T E E N M O N T H S .
Y ea rs.

Months.

1

6

10 per cent.

3
4

6

6

12i per cent.

20 per ceut.

15 per cent.

11 00

00

1 1 25

00

11 50

00

12 00

00

12 10

00

1265

62

13 22

50

14 4 0

0 0

13 31

00

1 4 2 3

8 2

15 20

8 7

17 2 8

00

14 6 4

10

1601

8 0

1749

00

2 0 73

60

IN V E S T E D E V E R Y T W O Y E A R S .
Y ea rs.
2
4
6

Months.

10 per cent.

#

.

1 2 i per cen t.

15 per cen t.

20 per cent.

00

11 25

00

1 1 50

00

1 2 00

12 10

00

1 2 65

62

13 22

50

14 40

00

1331

00

14 23

8 2

15 20

87

1 7 28

00

1100

0 0

S T A T IS T IC S OF T H E W IN E T R A D E O F F R A N C E .
T he variety o f wines produced in France is very great, for the difference is complete,
not only from province to province, but frequently from parish to parish, and even from
field to field. A s a consequence o f the difference o f climate, the wines are more or less
rich in alcohol, according as the places where they are grown are more or less south, and
the climate more or less dry.
From the Statistique de la France, published by the government, a correspondent o f
the London Economist compiles a table, showing the estimated annual produce o f each
department. T he figures, he thinks, are certainly very much under the truth, because pro­
duction has prodigiously increased within the last few years; but they are useful, as show­
ing the relative importance, for production, o f the several wine-growing parts o f France.
There is appended also a table o f the exports o f French wines to all countries, by which
we see the quantity exported to the United States exceeds that exported to other countries,
except Algeria, Switzerland, Belgium, and the Hanse Towns.
TABLE OF THE PRODUCE OF THE WINES OF FRANCE IN EACH DEPARTMENT, AND IN THE ORDER OF
THEIR IMPORTANCE.

Heraul t.................
Chare ate Infe’ure.
Gironde................
Var........................
Charente.............
Gers.......................
Gard......................
Aude......................
Meurthe...............
....................
D ordogne.............
Rhone...................
Lot et Garonne...
Indre et Loire......
Bouches du Rh’ne.
Haut Garonne....
A u b e ....................
Loire Inferieure..
Cote d’Or.............
Loire and Cher...
Puy de Dome......
Haute Marne.......
Maine and Loire.
Seine and Oise....
Seine et M arne..
Bas R hin..............
L o t ........................

Hectolitres.

Hectolitres.

2,616,000
2,394,000
2,020,000
1,635,000
1,152,000
1,128,000
1,132,000
1,011,000
912,000
856.000
800.000
Loiret
770,000
740,000
Saone
637,000
628,000
626,000
604,000
692,000
568,000
538,000
527,000
536,000
508,000
510,000
504.000
516.000
539.000
445.000

Meuse.................... 459,000
Vienne................... 459,000
Basses Pyrenees... 325,000
Landes................... 386,000
M arne.................... 381,000
Haute Saone......... 343,000
Drome.................... 305,000
Pyrenees Ori’tales. 301,000
A in......................... 333,000
Aveyron................. 353.000
Ju ra...................... 357.000
Vendee.................. 319,000
Tarn and Garo’ne. 307,000
T am
.....................
and
Loire.
644,000344,000
Haut R hin............ 374,000
Deux Sevres........ 270,000
C orreze...,............ 253,000
Hautes Pyrenees.. 268,000
Indre..................... 213,000
Isere......................
242,000
L oire...................... 228,000
Ardeche................ 282,000
Vaucluse............... 238,000
Vosges...................
212,000
Cher....................... 250,000
Aisne...................... 228,000
274.000
Arriege................... 166.000

Hectolitres.

Allier...................
Doubs..................
Nievre.................
Basses Alpes......
Seine....................
Eure and Loire..
Sarthe..................
Hautes A lpes... .
Oise......................
Ardennes............
Haut Vienne.......
Eure.....................
Lozere.................
Morbihan............
lie and V ilaine..
Cantal..................
Mayenne.............
Somme................
Seine Inferieure .
Calvaoos..............
Manche...............
Cotes du N o r d ..
Finistere.............
O m e ....................
Creuse.................

195,000
172,000
170,000
114,000
107,000
106,000
89,000
86,000
65,000
62,000
70,000
22,000
21,000
14,000
6,000
3,000
2,000

...... ..

.....

Total production. 35,763,000

N ote.— The departments o f Maine and Jura produce each 400,000 hectolitres in place
o f 300,000, the quantity attributed to them by mistake in the above table; the total pro­
duce is 37,000,000 in place o f 35,000,000.




Commercial Statistics.

644

TABLE OF THE EXPORT OF FRENCH WINES TO ALL COUNTRIES.

Russia...... ..........................................
Sweden..................................................
N orw ay.................................................
Denmark...............................................
Hanse T ow n s.......................................
Germanic Zoll.......................................
Hanover and Mechlenburg Schwerin.
Netherlands...........................................
Belgium..................................................
England..................................................
Portugal..................................................
Austria....................................................
Spain.......................................................
Sardinia..................................................
Naples.....................................................
Papal States..........................................
Tuscany..................................................
Switzerland............................................
Greece.....................................................
T urkey...................................................
Egypt......................................................
Barbary States......................................
Algeria...................................................
W est Coast o f Africa..........................
Mauritius...............................................................
Other African Coasts..........................................
Ind ia....................................................................
Dutch Indian Possessions.................................
French Indian Possessions................................
Philippine Islands................................................
China, Cochin-China, and Pacific Islands......
H ayti.................................................................. '•.
United States...................................................i...
British Possessions in America........................
Spanish Possessions in America........................
Danish Possessions in America........................
Dutch Possessions in America..........................
Brazil.....................................................................
M exico..................................................................
Venezuela..........................
N ew Grenada....................
Chili.....................................
R io de la Plata..................
Uruguay............................ ..................................
Texas and Equador..........
Guadaloupe........................
Bourbon.............................. .................................
Cayenne...............................................................
French Newfoundland Fisheries.......................
Total

18 4 5 .
Litres.

18 4 6 .
Litres.

3,955,700
608,900
621,000
1.619.600
13,589,900
5.210.600
746,000
9,689,800
10,639,300
3.325.600

3.669.900
516.600
272,700
1.218.700
14,597,400
4.604.000
337.600
3.775.700
6.168.900
2.633.000

256,000
421,600
7,810,700
377,900
594,600
13,828,100

136,300
227,400
5,499,200
119.099
167,000
243.100
15,180,500

" 172,300
286,100

251,700
268,300

34,579,SOO
74,600
5,093,400

42,538,500
47,500
5,238,600

480,700
469,300
82,000
147,200

139,140
126,700
233,300
9,100

313,600
8,889,600
100,300
528,700
624,100

481,900
10,398,800
107,800
336,000
292,400

3,062,200
304,500

1,473,300
318,400
9,500
113,300
57,000
207,200
1,423,900
355.900
667.900

228.400
26,600
309.400
1,470,800
3.665.600
1.023.600
95,200
2,575,500
3,864,300
3.025.600
1,181,700
589.400
573,600

2,383,000
2,403,700
3.473.300
1.107.300
864,900
853,500

147,133,100

135,548,139

T R A D E OF T H E C A P E O F GOOD H O P E .
T he revenue and expenditure accounts o f this British colony for the year ending the
31st December, 1847, have been made up. T he revenue for the year has been £60,758
against £55,432 in 1846. T he expenditure has been £42,047 against £38,987 in 1846.




Commercial Statistics.

645

The excess o f revenue over expenditure was, therefore, £18,711 against the excess in
1846 o f £16,444. T he customs receipts presented the chief increase on the last quarter o f
the year.
T he usual quarterly statement o f the trade and navigation o f the colony for 1847 had
likewise been made up, from which it appears that the total value o f imports had amount­
ed to £1,409,342 for Cape Tow n, to £320,979 for Port Elizabeth, and £39,021 for
Simon’s Tow n, giving a grand total o f £1,409,342. The imports from Great Britain to
Cape T ow n had been to the value o f £736,448. T he value o f exports o f colonial produce
from Cape T ow n had amounted to £172,485, and o f other produce to £81,973, making
a total o f £254,458. From Simon’s T ow n the total value o f exports, colonial and other­
wise, had been to the extent o f £8 98. From Port Elizabeth the exports during the same
period had been £185,599, which figures give a grand total o f the colony o f £440,955.
T he inward shipping trade o f Cape T ow n had comprised, during the year, 568 vessels
o f 167,191 tons. A t Port Elizabeth the inward trade had consisted o f 152 vessels o f
27,383 tons ; and outwards, 152 vessels o f 27,053 tons. A t Simon’s Town, 31 vessels
had entered inwards, measuring 12,914 ton s; and outwards 30 vessels o f 12,534 tons.
The total inward entries for the whole colony had been 751 vessels, of 208,188 tons meas­
urement ; and outwards, 742 vessels, o f 201,483 tons measurement.

T R A D E O F B R A Z IL .
From R io Janeiro we are furnished with returns in connection with the revenue and
trade o f Brazil for the past year:—
It appears that in 1847 there was an increase in customs receipts upon the average of
the last seven years o f nearly 5 per cent, but a diminution compared with the preceding
year o f about 2J per cent, a falling o ff o f more than 10 per cent having taken place from
July to December. The Consulado returns show an increase in 1847 upon the average
o f the seven years o f upwards o f 8 per cent, the receipts in this case being slightly in ad­
vance o f those for 1846. T he total revenue o f the customs in 1847 was $7,985,045, and
o f the Consulado $2,029,470.
A s regards the balance o f trade, there are no means o f arriving at a correct estimate o f
the exports or imports, but it is stated that the export o f general produce was rather in ad­
vance o f that o f 1846, while in gold and diamonds it was considerably less. T he im­
ports were large, and, coming upon already heavy stocks, they pressed unfavorably upon
the market.
Throughout the year the money market was steady, the rate o f discount having been
7 per cent, except for a short period, when it was a half per cent lower. T he general
rate paid by the Treasury was 6J per cent until September, and 6 per cent during the re­
mainder o f the year.
The discounts effected by the bank in 1847 amounted to $34,839,372, and the sum
taken by that establishment on interest, at an average o f about per cent, was $29,461,488.
Its reserved fund was increased during the year, $88,750, and it paid dividends amount­
ing to about H i per cent. The highest rate o f exchange on London was 29 per cent,
and the lowest 27 per cent.
In the prices o f the public funds the range was about 8 per cent, the Six per Cents
having, since February, risen from 80, their lowest price, to 88 at the close o f the year.
It appears that $14,200 Six per Cents, and $3,600 Five per Cents were issued during the
year, and that the local funded debt is now stated as follow s:— Six per Cents, $46,712,400 ;
Five per Cents, $1,088,200; Four per Cents, $1 19,6 00; making a total o f $47,920,200.

E X P O R T OF B R IT IS H S IL K GOODS.
A parliamentary return furnishes the following particulars o f the exportation o f British
manufactured silk goods from the United Kingdom in the years 1845 and 1846:— T he
manufactures o f silk, only, comprising stuffs and ribands, lace, stockings, fringes, sewingsilk, and small wares, with yam and twist, exported in the year 1845, amounted to the
declared value o f £622,334, and the export, in 1846, to £692,994, which shows a fair
increase; but the export o f manufactures o f silk, mixed with other materials, only amount­
ed to the declared value o f £144,071 in the year 1845, and £144,583 in the year 1846,
showing a very small increase for the latter year. The largest exports were to France, the
United States, and British North America.




646

Commercial Statistics.
N E T T PR O C EE D S OF A M E R IC A N PR O D U C E IN L O N D O N ,
IN DOLLARS AND CENTS, AT THE VARIOUS RATES OF EXCHANGE.

Description o f Articles.

B eef................
<<
Pork middles.,
Pork................
Lard................
.in kegs,
“
44
T allow ...........
«
Cheese...........
Linseed cake.
Flour...............
W heat............ . per qr. o f 8 bushels
4<
Indian com ....
44
Barley.............
44
Oats................

Price.

70s.
30
120
60
44
48
44
44
160
36
64
56
30
26

,-----------------Nett proceeds at------------------<
Five per cent. Six per cent. Seven per cent.

S I2
4
22
10
8
9
8
7
21
6
10
8
3
2

24
89
40
96
58
21
27
22
00
30
85
86
61
68

$12
4
22
11
8
9
8
7
21
6
10
8
3
2

36
94
61
07
66
30
35
29
20
36
95
95
65
70

$12
4
22
11
8
9
8
7
21
6
11
9
3
2

48
99
82
17
74
38
43
36
40
42
05
03
68
73

14
7
24
12
9
10
8
7
23
6
11
9
4
3

60
06
73
01
54
12
71
65
55
83
89
89
94
65

14
7
24
12
9
10
8
7
23
6
12
9
4
3

73
13
96
12
63
22
80
73
78
89
01
98
98
68

16
9
29
12
10
11
9
8
25
7
12
10
5
4

72
18
09
95
36
07
06
60
91
29
84
83
88
59

16
9
29
13
10
11
9
8
26
7
12
10
5
4

87
27
36
08
45
17
15
68
15
36
96
94
94
63

18
11
31
14
11
11
9
9
30
7
13
11
6
5

84
42
21
13
18
89
54
54
03
77
78
66
83
42

19
11
31
14
11
12
9
9
30
7
13
11
6
5

01
52
50
26
29
00
63
63
31
84
91
77
89
47

TABLE OF NETT PROCEEDS— CONTINUED.

Beef................
“ ................
Pork middles..
Pork...............
Lard..............
<4
•in kegs,
“
44
Tallow...........
44
Cheese............
Linseed cake.
Flour...............
W heat............ .per qr. o f 8 bushels
44
Indian corn...
44
Barley............
44
Oats................

80
40
130
65
48
52
46
46
170
38
68
60
36
30

14
6
24
11
9
10
8
7
23
6
11
9
4
3

46
99
50
90
45
03
63
58
33
76
78
80
89
61

TABLE OF NETT PROCEEDS— CONTINUED.

B eef................
((
Pork middles.
Pork...............
Lard...............
«
•in kegs,
“
44
T allow ...........
44
Cheese...........
Linseed cake.
Flour..............
W heat........... . .per qr. o f 8 bushels
44
Indian corn...
44
Barley............
44
Oats...............

90
50
150
70
52
56
48
50
180
40
72
64
40
34

16
9
28
12
10
10
8
8
25
7
12
10
5
4

56
09
81
83
26
96
98
52
66
22
72
73
83
55

TABLE OF NETT PROCEEDS-—CONTINUED.

Beef..............
«
Pork middles.
Pork...............
Lard...............
(4
.in kegs,
“
44
T allow ..........
44
Cheese...........
Linseed cake
Flour.............
W heat........... ..per qr. o f 8 bushels
44
Indian com ..
44
Barley...........
44
Oats...............




100
60
160
75
56
60
50
54
200
42
76
68
44
38

18
11
30
14
11
11
9
9
29
7
13
11
6
5

66
31
91
00
08
78
45
45
75
70
65
55
76
27

647

Commercial Statistics,
TABLE OF NETT PROCEEDS— CONTINUED.

Description o f Articles.

Beef................
tt

Pork middles.
Pork...............
Lard...............
It
.in kegs,
“
if
T allow ...........
(i
Cheese...........
Linseed cake.
Flour..............
Wheat............ . .per qr. o f 8 bushels
M
Indian corn..
It
Barley.............
tt
Oats...............

Price.

Five per cent.

110 s.
65
180
80
60
64
52
60

$21 00

220
44
80
72
50
40

-Nett proceeds at----------------- .
Six per cent. Seven per cent.

12 36
35 11
15 16

12 01
12
9
10
34
8
14
12
8
5

72
91
73
06
16
46
47
04
83

$21
12
35
15
12
12

20
48
45
31
13
84

$ 2 1 40
12 59
35 78
15 45
12 24
12 96

10 01

10 10

10
34
8
14
12

83
39
24
60
59

10 94
34 71
8 31
14 73
12 71

8 12

8 20

5 88

5 94

A ll the above articles are calculated free o f duty, excepting tallow Is. 6d., and cheese 5s.
per 112 lbs., including commission and all charges, with one month’s rent. Freights are
calculated at the rate o f 5s. per barrel for flour.

S H IP -B U IL D IN G IN N E W B E D F O R D D IS T R IC T , IN 1847.
T he following statement o f the names, class, and tonnage o f vessels built in this District
in 1847, compiled from the records o f the Custom-house, was originally published in the
N ew Bedford Shipping L ist:—
NEW BEDFORD.

Tons.

Schooner A bby...
“
N aiad.

Total.

30 l-95th.
32 62-95
62 63-95ths.
FAIRHAVEN.

Ship Channing............................................................
BarkGallego...........................................................

535 25-95
372 56-95
907 81-95

DARTMOUTH.

Schooner Henry Payson,

151 49-95
151 49-95
MATTAPOISETT.

Ship Jos. M eigs.........................................................
« Sylph.................................................................
“ Cleon.................................................................
BarkPlatina.......................... ....................................
“ Union...........................
“ Brothers.............................................................
“ Nenuphar..........................................................

355 73-95
336 82-95
372 50-95
266 33-95
299 65-95
493 43-95
191 83-95
----------------

2,316 49-95

164 30-95
29 21-95
----------------

193 51-95

SIPPICAN.

Schooner George J. Jones.......................................
Sloop Rough and Ready..........................................

Total......................................................................................
TONNAGE OF THE DISTRICT, IN

Registered.................................................................................... .
Temporary registered.......................................................................
Enrolled and licensed.......................................................................
Under 20 tons....................................................................................
Total tonnage.




3,632 08-95

1847.
110,458
2,031
9,321
403

82
15
08
89

122,215 04

648

Commercial Regulations.

COMMERCIAL

REGULATIONS.

B R IT IS H R E G U L A T IO N S F O R E M IG R A N T SH IPS.

T he London Gazette o f the 18th o f April, 1848, contains an order in council, dated
the 15th o f April, appointing the following rules “ for preserving order and for securing
cleanliness and ventilation on board o f British ships proceeding from any port or place in
the United Kingdom, or in the islands o f Guernsey, Jersey, Alderney, Sark, or Man, to
any port or place on the eastern coast o f North America, or in the islands adjacent there­
to, or in the Gulf o f M ex ico:—
1. A ll passengers who shall not be prevented by sickness or other sufficient cause, to be
determined by the surgeon, or, in ships carrying no surgeon, by the master, shall rise not
later than seven o’clock A . M ., at which hour the fires shall be lighted.
2. It shall be the duty o f the cook, appointed under the 3d clause o f the act 11th V ic­
toria, cap. 6, to light the fires, and to take care that they be kept alight during the day,
and also to take care that each passenger, or family o f passengers, shall have the use of
the fire-place at the proper hours, in an order to be fixed by the master.
3. W hen the passengers are dressed, their beds shall be rolled up.
4. T he decks, including the space under the bottom o f the berths, shall be swept before
breakfast, and all dirt thrown overboard.
5. T he breakfast hour shall be from eight to nine o’clock A . M ., provided that, before
the commencement o f breakfast, all the emigrants, except as hereinbefore excepted, be out
o f bed and dressed, and that the beds have been rolled up, and the deck, on which the
emigrants live, properly swept.
6. The deck shall further be swept after breakfast, and after every other m eal; and, as
soon as breakfast is concluded, shall be dry holy-stoned or scraped. This duty, as well
as that o f cleaning the ladders, hospitals, and round houses, shall be performed by a party,
taken in rotation from all the adult males above fourteen, in the proportion o f five to every
one hundred emigrants, and who shall be considered as sweepers for the day ; but the oc­
cupant o f each berth shall see that his own berth is well brushed out.
7. Dinner shall commence at one o’clock P. M., and supper at six P. M.
8. T he fires shall be extinguished at seven P. M., unless otherwise directed by them as­
ter, or required for the use o f the sick, and the emigrants shall be in their berths at ten
o’ clock P. M .
9. Three safety lamps shall be lit at dusk and kept burning till ten o’clock P. M ., after
which hour two o f the lamps may be extinguished, one being nevertheless kept burning
at the main hatchway all night.
10. N o naked light shall be allowed at any time, or on any account.
11. The scuttles and sternports, if any, shall, weather permitting, be opened at seven
o’ clock A . M ., and kept open till ten o’clock P. M ., and the hatches shall be kept open
whenever the weather permits.
12. The coppers and cooking utensils shall be cleaned every day.
13. The beds shall be well Bhaken and aired on deck at least twice a week.
14. The bottom boards o f the berths, i f not fixtures, shall be removed and dry scrubbed
and taken on deck at least twice a week.
15. A space o f deck-room shall be apportioned for a hospital, not less, for vessels car­
rying one hundred passengers, than forty-eight superficial feet, with two or four bed-berths
erected therein, nor less, for vessels carrying two hundred or more passengers, than one
hundred and twenty superficial feet, with six bed-berths therein.
16. T w o days in the week shall be appointed by the master as washing daje, but no
washing or drying o f clothes shall on any account be permitted between decks.
17. On Sunday mornings the passengers shall be mustered at ten o’clock A . M ., and
will be expected to appear in clean and decent apparel. The Lord’s day shall be observed
as religiously as circumstances will admit.
18. N o spirits or gunpowder shall be taken on board by any passenger ; and if either
o f those articles is discovered in the possession o f a passenger, it shall be taken into the
custody o f the master during the voyage, and not returned to the passenger until he is on
the point o f disembarking.
19. N o loose hay or straw shall be allowed below for any purpose.
20. N o smoking shall be allowed between decks.




Commercial Regulations.

649

21. A ll gambling, fighting, riotous or quarrelsome behaviour, swearing, and violent lan­
guage, shall be at once put a stop to. Swords and other offensive weapons shall, as soon
as the passengers embark, be placed in the custody o f the master.
22. N o sailors shall be allowed to remain on the passenger deck among the passengers,
except on duty.
23. N o passenger shall go to the ship’s cookhouse, without special permission from the
master, nor remain in the forecastle among the sailors on any account.
24. In vessels not having stemports or scuttles in the sides, such other provision shall
be made for ventilation as shall be required by the emigration officer at the port o f em ­
barkation, or, in his absence, by the officers o f the customs.
L A G U N A P O R T R E G U L A T IO N S .
T he masters o f all vessels arriving at this port will observe strictly the following regu­
lations :—
1. T he captains o f all merchant vessels arriving will report themselves, within twentyfour hours after their arrival, at the custom-house.
2. Masters o f vessels are directed to prohibit their men from visiting the shore on liberty.
3. N o vessels shall throw any ballast overboard, or any other article, on pain o f fifty
dollars for each offence; nor shall any ballast be landed without permission being ob­
tained, and a spot specified for the same by the captain o f the p ort; and any ballast land­
ed on any part o f this island where said ballast can be reached at high water mark, or
by the rising o f the tide, will subject the offender to a fine o f one hundred dollars for each
offence.
4. All vessels will anchor with two anchors, to avoid drifting and damage to the other
vessels in the harbor.
5. N o goods or merchandise can be landed otherwise than at the public wharf, and
all goods landed without the presence o f an inspector, will subject the same to a fine or
confiscation.
6. Vessels are prohibited from making lines fast to any spot on the beach, whereby free
ingress or egress is prevented for smaller craft, and the free passage o f those walking on
the beach.
7. N o vessel is allowed to change her original place o f anchorage without permission
from the captain o f the port.
8. A ll permits for landing goods must come from the collector, through the inspector o f
the custom-house.
9. A ll vessels clearing at the custom-house must present their papers at the United States
guard ship previous to sailing.
10. Vessels completing their cargoes outside the bar, will obtain permission, showing
the same on board the United States guard ship previous to leaving the harbor.
A ll matters arising from the violation o f the foregoing regulations, and all infringements
o f the same, will be decided by the captain o f the port and the United States senior naval
officer afloat.
A . Bigelow,
M arch 6, 1848.
Comd. U. S. N ., Civil and Military Governor.
T IM B E R D U T IE S IN G R E A T B R IT A IN .
T he undermentioned new and reduced duties on timber and wood goods came into
operation on the 6th o f April, 1848, viz:— Timber or wood, not being deals, battens,
boards, staves, handspikes, oars, lathwood, or other timber or wood, sawn, split, or other­
wise dressed, except hewn, and not being timber otherwise charged with duty, the load,
1 5 s.; deals, battens, boards, or other timber or wood, sawn or split, and not otherwise
charged with duty, the load, X I I s .; or, in lieu o f the duties imposed upon wood by the
load, according to the cubic contents, the importer may have the option, at the time o f
passing the first entry o f entering battens, batten-ends, deals, deal-ends, and planks, by
tale, if o f and from foreign countries, according to their different dimensions and rates o f
duty, in which a considerable reduction is made, varying from one-fourth to a moiety of
the rates o f duty hitherto levied thereon; staves, the load o f fifty cubic feet, 18 s.; firewood,
the fathom o f 216 cubic feet, 6 s .; handspikes, not exceeding 7 feet in length, the 120,
12s.; exceeding 7 feet in length, the 120, X I 4 s .; knees, under 5 inches square, the 120,
6 s .; 5 and under 8 inches square, the 120, X I 4 s .; lathwood, the fathom o f 216 cubic
feet, X I 4 s .; oars, the 120, X 4 10s.; spars or poles, under 22 feet in length, and under
4 inches in diameter, the 1 2 0 ,12s.; 22 feet in length and upwards, and under 4 inches in
diameter, the 120, X I 4 s.; spars o f all lengths, 4 and under 6 inches in diameter, the 120,




650

Commercial Regulations.

£2 8 s. ; spokes for wheels, not exceeding 2 feet in length, the 1,000, £ 1 4 s . ; exceeding
2 feet in length, the 1,000, £ 2 8 s.; timber, planed, or otherwise dressed or prepared for
use, and not particularly enumerated nor otherwise charge with duty, the cubic foot, 4d.,
and further for every £ 1 ,000 value, £ 1 0 .
D U T Y O N G L A S S IN G R E A T B R IT A IN .
B y the A c t 8th and 9th Victoria, cap. 90, the following duties on glass came into ope­
ration on the 5th o f April, 1848:—
A ny kind o f window glass, white or stained o f one color only, not exceeding sone-ninth o f an inch in thickness, and shades and cylinders, the cw t................. 3
A ll glass exceeding one-ninth o f an inch in thickness, all silvered or polished glass
o f whatever thickness, however small each plate, or sheet, superficial meas­
ure, v iz :—
N ot exceeding more than nine square feet, the square foot...................................... 0
Containing more than nine square feet, and not more than fourteen square feet, the
0
squarefoot.................... .................................................... ........................................
Containing more than fourteen square feet, and not more than thirty-six square
feet, the square foot....................................................................................................... 0
Containing more than thirty-six square feet, the square foot...................................... 0
Painted or otherwise ornamented, the superficial foot.............................................. 0
A ll white flint glass bottles, not cut, engraved, or otherwise ornamented, and
beads and bugles o f glass, the lb................................................................................. 0
W ine glasses, tumblers, and all other white flint glass goods, not cut, engraved,
or otherwise ornamented, the lb............. ................................................................... 0
A ll flint cut glass, flint colored glass, and fancy ornamental glass, o f whatever
kind, the lb...................................................................................................................... 0
Bottles o f glass covered with wicker (not being flint or cut glass) or o f green or
common glass, the cwt.................................................................................................. 0
Manufactures not otherwise enumerated or described, and old broken glass, fit
only to be re-manufactured, the cw t........................................................................... 3

<16

3
6

7£
9
9
0$
1
2
9
6

B R IT IS H C O M M E R C E A N D T H E R IG H T S O F W A R .
David Baxter, Esq., the Chairman o f the Dundee Chamber o f Commerce, having
written to Mr. Duncan, M. P., relative to cargoes on board Prussian vessels being seized
by the Danes, the following communication has been received from the Foreign Office:—
Foreign Office, A pril 17, 1848.

S ir :— I am directed by Viscount Palmerston to acknowledge the receipt o f your letter
o f this morning’s date, requesting to be informed whether, in case a Prussian vessel, having
a British cargo on board, were to be made a prize o f by the Danes, both vessel and cargo
would be considered as prize, or only the vessel.
In reply, I am to inform you that, in the event o f hostilities between Prussia and D en­
mark, the ships o f war o f the one party would have the right to capture and carry in for
adjudication the merchant vessels o f the other party, notwithstanding that the cargoes
which such merchant vessels respectively might be laden with should be the property o f
British subjects, and Her Majesty’s government would not be justified in interfering to
prevent the exercise o f such belligerent right by either o f the contending parties. But
British subjects being owners o f such cargoes would be entitled, in their character o f neu­
trals, to obtain restitution o f their property by means o f claims made and substantiated in
the jrrize courts o f the country o f the captor. I am, sir, your most obedient humble
servant,
E. J. Stanley.
R E G U L A T IO N S F O R SH IPS B Y T H E V E N E T IA N REPU BLIC.
T he Provisional Government o f Venice have issued instructions for the commanders o f
the forts and entrances o f the port o f Venice, with regard to the admission therein o f ships
o f war and merchant vessels. T he following are the only clauses bearing on the mer­
chant service:—
8. Entrance is allowed to ships o f all nations, after ascertaining that there are no troops
on board, in which case they shall be considered as in section 5.
9. Merchant vessels loaded with arms or ammunition, shall moor at the ports o f A lberoni, Lido, or Chioggia, and a report thereof shall be made to the government.




Journal o f Banking, Currency, and Finance.

651

E N T R E P O T A T T H E P O R T O F ST . JA G O D E CUBA.
T he Intendant o f the province o f St. Jago de Cuba, under date o f the 27th March last,
communicates to the Consulate at N ew Y ork the following order, establishing a deposit
or entrepot at the port o f Cuba:—
( From E l Redactor, o f Santiago de Cuba, March

2 7 ,1 8 4 8 .)

His Excellency, the Superintendent General o f Finance o f this island, has directed to
be published at the capital and other places the following notice:—
“ T he Superior Executive Committee o f Finance having resolved, at the session o f the
16th o f last month, subject, however, to what Her Majesty may deign to order, to estab­
lish provisionally and by way o f trial, for the present year, a mercantile deposit,under the
same regulations as at the capital, (Havana,) His Excellency, the Superintendent Gene­
ral o f Finance, has directed that said deposit shall be opened on the first o f the next month
o f April, to which end the necessary measures have been adopted, and, by order o f His
Excellency, it is published for the information o f the public.
J o a q u in C a m t u z a n o .
H a v a n a , M arch 15th, 1 8 4 8 .
A nd the Intendant o f this district, by a decree o f this day, in accordance with the su­
perior order aforesaid o f the 16th inst., communicating the above mentioned notice, pub­
lished in the Havana Gazette on the date above, directs that the same be made public by
fourteen consecutive insertions in the paper o f this city, the Redactor, for the general in­
formation o f traders and the public, and that a hundred copies thereof be circulated im­
mediately ; the present is issued, for the aforesaid purpose, at St. Jago de Cuba, March
25th, 1 8 4 8 .
J u a n h e M a t a H e r k e r a , Secretary ad interim.

JOURNAL OF BANKING, CURRENCY AND FINANCE.
T H E U N IT E D S T A T E S T R E A S U R E R ’ S P R O P O S A L S F O R A L O A N .

W e published, in the Merchants' M agazine for April, the law o f the United States au­
thorizing a loan o f sixteen millions o f dollars; the accompanying circular from the Secre­
tary o f the Treasury, issued since the passage o f the law, furnishes bidders with the ne­
cessary explanations.

W e heartily approve o f the novel plan alluded to in. the second

paragraph o f the following circular, which gives persons o f small means an opportunity
o f investing funds in this stock, by securing bids for the lowest denomination o f certificates
— fifty dollars— as well as for larger sums. But we think it would have been better to is­
sue the stock at 5 or 6 per cent, and thus have placed it in a position to be taken up by
the class o f persons who deposit their surplus earnings in savings banks. The working
and middle classes o f England have something like £25,000,000 in the savings banks.

T reasury D epartment, A pril 17, 1848.
Sealed proposals will be received, under the act o f 31st March last, until 3 P. M . on
Saturday, the 17th June, 1848, for sixteen millions o f dollars o f the United States stock,
reimbursable twenty years from and after the first day o f July, 1848, bearing 6 per cent
interest per annum, payable, semi-annually, on the first days o f January and July o f each
year. N o bid will be received below p a r; nor will any bid be considered unless 1 per
cent thereof is deposited in some depository o f the United States at or before the date fixed
for opening the proposals. The bids, in all cases, must be unconditional, and without any
reference to the bids o f others, and should state distinctly the premium offered. The pro­
posals should be sealed and endorsed “ Proposals o f loan o f 1848,” and addressed to the
Secretary o f the Treasury, Washington City, D. C. T he sums which may be accepted
will be required to be paid to the depository o f the United States nearest the places o f resi­
dence o f the persons respectively whose offers may be successful; but the amount o f the
bids from bidders not residing in the United States, must be deposited with the assistant
treasurers at N ew Y ork, Boston, Philadelphia, or N ew Orleans.
T o give an opportunity to all persons to participate in the investment o f funds in this
stock, bids will be received for the lowest denomination o f certificates authorized by law
— being for fifty dollars— as well as for higher sums.




652

Journal of Banking, Currency, and Finance.

A ll certificates under one thousand dollars will be transferable on the books o f the treas­
ury ; but all certificates for that sum and upwards will be transferable on the books o f the
treasury, or by delivery with coupons attached, at the option o f the bidder. T o avoid ex­
pense, confusion, and multiplication o f accounts, all certificates with coupons attached will
be for the sum o f one thousand dollars.
T he successful bidders will be required to deposit the amount awarded in five equal in­
stalments in each o f the months o f July, August, September, October, and November o f
the present year, except for sums not exceeding twenty thousand dollars, where the bidder
may be desirous o f making immediate payment, in which case, the whole amount may
at once be deposited. T he stock will bear interest in all cases from the date o f deposit.
T he bids will be opened at the Treasury Department at 3 P. M . on Saturday, the 17th
June, 1848, in the presence o f all persons who may desire to attend; but, under a provision
introduced into the act o f 31st March last, no bidder will be permitted to withdraw his
bid. On all bids not accepted, the amount deposited in advance will be immediately re­
turned. The whole premium on the amount awarded must be deposited as a part o f the
first payment required in July next.
R. J. W alker, Secretary o f the Treasury.

F IN A N C IA L E F F E C T S OF T H E F R E N C H R E V O L U T IO N .
L a Fresse (which, it should be remembered, is opposed to the Provisional Government)
gives the following calculation o f the loss o f property which has taken place in conse­
quence o f the destruction o f credit, and consequent depreciation o f every species o f in­
vestment, which has followed the political catastrophe o f the 24th February:—
T he depreciation o f securities at the Bourse since the 23d February to 12th April
amounts, on the funds, the Bank o f France, and railways, to the enormous sum o f
3,749,060,811 francs, and there may be added to this more than 1,000,000,000 francs for
other securities, such as canals, bonds, mines, gas, assurances, & c., the greater part o f
which have not been quoted for six weeks past.
T he 3 per cents, amounting to 68,114,833 francs, represented on 23d Feb­
ruary, at the then price o f 74 f. 70 c., a capital of...........................francs
T he 4 per cents, amounting to 26,507,375 francs, at 99 f., a capital o f .. ..
T he 4J per cents, amounting to 1,026,600 francs, at 104 f., a capital o f..
T he 5 per cents, amounting to 146,752,528 francs, at 116 f. 10 c., a cap­
ital o f..................................................................................................................

1,670,021,959
656,057,531
23,725,866
3,407,573,700
5,757,379,056

On 12th April the 3 per cents had fallen to 42 f. 50 c., re­
presenting a capital o f.........................................................
The 4 per cents to 46 f., a capital o f...................................
T he 4J per cents to 50 fi, a capital of...................................
T he 5 per cents to 61 f., a capital o f...................................

964,960,842
301,834,962
11,406,600
1,190,380,841
--------------------- 2,468,583,245

Being a loss of.................................................................................

3,288,795,811

This loss was much greater eight days earlier, since, at that time, the 3 per cents had
fallen to 32 fi, and 5 per cents to 50 f.
T he 67,000 Bank shares were, on 23d February, at 3,180 f., being a total of.
On 12th April, at 1,120 £ .......................................................................................

223,060,600
76,380,000

Being a loss o f....................................................................................

146,680,600

T he railways, on 23d February, six lines were quoted above par, viz:—
Orleans at 1,180 fi for 80,000 shares, being a capital o f........................francs
Rouen at 858 f. 75 c. for 72,000, being...............................................................
St. Germain at 660 f. for 180,000, being.............................................................
Marseilles at 532 f. 50 c. for 40,000, being........................................................
Vierzon at 501 f. 25 c. for 66,000, being.............................................................
North at 536 f. 25 c. for 400,000, being.............................................................




94,400,000
61,130,000
11,880,000
21,300,000
23,182,500
114,000,000
325,892,500

653

Journal o f Banicing, Currency, and Finance.
T he capital on April 12 was reduced as follow s:—
Orleans at 440.....................................................................francs
Rouen at 305..................................................................................
St. Germain at 350........................................................................
Marseilles at 1 9 0 .......................................................................
Vierzon at 220...............................................................................
North at 327 f. 50 c ......................................................................

35,200,0001
21,960,000
6.300.000
110,640,000
7.600.000 '
8.580.000
31,000,000 j

Being a loss o f.....................................................................................
T he other lines were already below par, but the depreciation has, since
ary, been enormous, and the loss on April 12 as follow s:—
Versailles (r. d.)...... ................................... 295
fell to 95
Loss......
tc
it
Versailles (r. g.)......
95
it
“
Bale........................... .................................. 157 50
77 50
M
u
Boulogne...................................................... 360
150
«(
if
305
Lyons....................... ................................... 385
(1
it
Bordeaux.................. .................................. 475
215
(t
it
Nantes...................... ................................... 380
335
tl
ft
340
Strasburg.................
tf
ft
125
Montereau................
it
ft
Dieppe................. .
125
tf
ft
170
Havre.......................

215,252,500

the 23d Febru-

.
.
.
.

L o ss.................................................................................................

4,400,000
2,000,000
6,700,006
15,750,000
32,000,000
11,700,000
3,600,000
15,312,500
4,500,000
4,770,000
9,900,000
110,632,000

. RECAPITULATION.

Loss on Funds.....................................................................................................
“
Bank shares...........................................................................................
“
Railways (six lines).................................................. 205,952,500 )
“
“
(eleven lines)........................................... 110,632,500 £

3,285,793,811
146.680.000

General total...............................................................................

3,749,060,811

316.585.000

Before the 23d February eleven lines were below par, having lost 143,347,500 francs, ac­
cording to the prices at the Bourse, which brings the total loss on railways to 459,932,500
francs.
R E V E N U E S O F F R A N C E IN 1848.
The M oniteur publishes the returns o f the indirect taxes and revenues o f France du­
ring the first quarter of 1848, which amounted to 177,964,000 francs. A s compared with
those o f the corresponding period o f 1847, there was a diminution in 1848 o f 16,310,000
francs. T he various items composing the above amount w ere:—
Francs.

Registry duties, mortgages, & c.
Stamp duties..............................
Import duties—
On com ...................................
On merchandise....... ;...........
On colonial sugars................
On foreign sugars..................
Export duties.............................
Navigation dues.........................
Miscellaneous import duties...
Duty on salt......... 1...................

Fran cs.

50,459,000 Duty on liquors......................... 21,656,000
9,812,000
“ on domestic sugars.........
6,816,000
Miscellaneous duties and reve­
358,000
nues..........................................
7,439,000
16,096,000 Sale o f tobacco........................... 28,100,000
5,541,000
“ o f gunpowder.....................
1,464,000
1,385,000 Postage, & c ...............................
13,075,000
404,000 Mail coaches.............................
387,000
494,000
“ packets.............................
255,000
500,000
13,723,000
Total.............................. 177,964,000

The articles which underwent diminution were— registry duties, & c., 2,981,000 francs;
stamp duties, 1,252,000 francs; import duties on com , 364,000 francs; do. on merchandise,
4,511,000 francs; do. on colonial sugars, 4,325,000 francs; do. on foreign sugars, 390,000
francs; export duties, 345,000 francs; miscellaneous import duties, 152,000 francs; salt
duty, 1,231,000 francs ; duty on liquors, 1,438,000 francs; miscellaneous duties and rev­
enues, 902,000 francs ; mail coaches, 81,000 francs.
T he navigation dues increased, in the same period, by 18,000 francs; the duty on do­
mestic sugars, 225,000 francs ; sale o f tobacco, 519,000 francs; do. o f gunpowder, 28,000
francs; postage, &c., 798,000 francs; mail packets, 74,000 francs.




654

Journal o f Banking, Currency, and Finance.

T he receipts during the first three months o f 1848 were:—
January..............................................................................................................francs
February.....................................................................................................................
M arch........................... ................................................................................... ..........

60,719,000
59,467,000
57,778,000

The direct taxes produced during March, 1848...................................................
The twelfth, legally demandable, was only...........................................................

59,550,540
35,483,310

Overplus.................................................................................................

24,067,230

It will be borne in mind, however, that, at the request o f government, very many
proprietors paid the whole o f the year’s taxes in advance, although one-twelfth only could
have been enforced.
N A T IO N A L C IR C U L A T IO N OF E N G L A N D .
The following is the state o f the note circulation o f the United Kingdom for the month
ending the 25th o f March, 1848:—
CIRCULATION OF NOTES FOR THE MONTH ENDING MARCH

Banks.
Bank of England............... ..........
Private Banks.................... .........
..........

Total in England........... .........
Scotland......................... .........
Ireland...........................
United Kingdom......... .

........

25,

AS COMPARED W ITH THE PREVIOUS

MONTH.
Feb. 26. 1848.

March25, 1848.

£ 1 8 ,4 7 9 ,7 6 6
3,633,141
2 ,512,059

£ 1 7 ,7 7 9 ,2 0 0
3,5 9 8,27 9
2 ,572,343

..........
..........
£ 6 0 ,2 8 4

£ 7 0 0 ,5 6 6
34,862

2 4,6 2 4 ,9 6 6
3 ,032,320

2 3 ,9 49 ,8 2 2
2 ,951,937
5,1 0 7,39 5

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

675 ,14 4
80,383
112,685

£ 3 2 ,8 7 7 ,3 6 6

£ 3 2 ,0 0 9 ,1 5 4

........

£ 8 6 8 ,2 1 2

Increase.

Decrease.
...........

T he comparison o f the month ending March 27, 1847, with the month ending March
25, 1848, shows a decrease in the Bank o f England circulation o f £1,477,015, a decrease
in Private Banks o f £943,778, and a decrease in Joint-stock Banks o f £676,185 ; being
a total decrease in England o f £3 ,09 6 ,9 7 8 : while in Scotland there is a decrease o f
£ 4 0 8 ,4 1 1 ; and in Ireland a decrease o f £1,597,341. Thus showing that the month
ending March 25, as compared with the same period last year, presents a decrease o f
£3,096,978 in England, and a decrease o f £5,102,730 in the United Kingdom.
T he return o f Bullion in the Bank o f England for the month ending March 25, gives
an aggregate amount in both departments o f £15,065,256. On a comparison o f this with
the return for the month ending February 26, there appears to be an increase o f £ 7 2 6 ,0 2 1 ;
and as compared with the month ending March 26, 1847, being the corresponding period
last year, there is an increase o f £3,742,204.
T he stock o f specie held by the banks in Scotland and Ireland during the month ending
March 25, was £2,765,964, being a decrease o f £32,929, as compared with the prece­
ding month, and a decrease o f £670,649, as compared with the corresponding period’
last year.
PU BLIC IN C O M E A N D E X P E N D IT U R E OF T H E U N IT E D KIN G D O M .
A n account o f the nett public income o f the United Kingdom o f Great Britain and Ire­
land, for the year ending the 5th o f April, 1848, (after abstracting the expenditure there­
out defrayed by the several revenue departments,) and o f the actual issues o f payments
within the same periods, has just been issued by order o f the House o f Commons. The
excess o f expenditure appears to amount to the enormous sum o f £3,092,284 13s. Id.
T he balances in the Exchequer on the 6th o f April, 1848, were £6,768,336 16s. 3}d .
T he receipts under the head ordinary revenue are as follows:— Customs, £19,940,295
10s. lO d.; Excise, £13,276,879 4 s .; stamps, £7,319,053 5s. 2 d .; taxes (land and asses­
sed,) £4,347,570 14s. 4 d .; property tax, £5,459,368 3s. lO d.; Post Office, £ 9 3 2 ,0 0 0 ;
Crown lands, £ 6 1 ,0 0 0 ; poundage on pensions and salaries, £4,839 16s. lO d .; small
branches o f the hereditary revenues o f the Crown, £4,155 9s. 2d.: surplus fees o f regu­
lated public offices, £106,447 0s. 3 d .; repayment o f moneys received into commissariat
chest at Hong Kong, out o f the indemnity paid by the Chinese Government, £455,021 I s .;
imprest and other moneys, £116,127 Is. 7d.; money received from the East India C om -.




Journal o f Banking, Currency, and Finance.

655

pany, £60,000 ; excess o f expenditure over income, £3,092,284 13s. I d .; total receipts,
£55,175,042 Is. Id. Under the head o f expenditure the following items are found:—
Interest and management o f the permanent debt, £23,958,908 11s. 6d .; terminable an­
nuities, £3,868,207 0s. 7 d .; interest on Exchequer Bills, £600,116 7 s.; civil list,
£394,232 10s.; annuities and pensions for civil, naval, military, and judicial services,
£5 26,788 7s. 3d. ; salaries and allowances, £262,375 11s. 5 d .; diplomatic salaries and
pensions, £169,373 17s.; courts o f justice, £1,054,273 3 s .; miscellaneous charges on
the consolidated fund, £317,227 16s. 6 d .; army, £7,357,688 19s. 7 d .; navy, £8,157,286
19s. 6 d .; ordinence, £2,726,698 ; miscellaneous, chargeable on the annual grants o f
Parliament, £3,614,329 7s. 9d .; relief o f Irish distress, £975,000 ; Kaffir war, £1,100,000;
unclaimed dividends (more than received,) £91,83 5 9s. l i d . T he account o f the balances
o f the public money shows that £7,003,574 10s. 5d. was raised in the year as funded
debt, and £17,802,400 as unfunded debt, in the shape o f Exchequer Bills charged on sup­
plies. These sums, in addition to the balances in the Exchequer on the 5th o f April,
amount to £30,265,809 12s. 9d. O f this sum there was issued to Commissioners for
the Reduction o f the National Debt, £192,890 9s. 6 d .; for W est India R elief Bills,
£ 2 8 ,0 0 0 ; payment o f supply, Exchequer Bills, £136,700 ; Exchequer Bills for payment
o f supply-bills, £17,802,400 ; local works in Ireland, £3,138,760 3s. 5d.
C IR C U L A T IO N O F C A N A D A N O T E S P R O H IB IT E D IN M IC H IG A N .
The following act passed the Michigan Legislature, and was approved by the Governor
April 3d, 1848. This law goes into operation in about six months from its passage:—
Sec. 1. Be it enacted by the Senate and House o f Representatives o f the State o f
M ichigan, That it shall not be lawful for any person or corporation to issue, or in any
manner circulate as money, at any time after six months from the time this act shall be­
come a law, within this State, any bill, note, or other evidence o f debt, purporting to be
issued by any body corporate', private broker, or other person carrying on banking business
in any foreign country or province.
Sec. 2. A ny person offending against the provisions of this act shall forfeit for every such
offence three times the nominal value o f any such bill, note, or other evidence o f debt, to
be recovered with costs o f suit in the name o f and for the use o f any person who shall
sue for the same, and prosecute such suit to judgment in any court having cognizance
thereof.
Sec. 3. A ny incorporated company in this State who shall purchase or take at a dis­
count any bill, note, or other evidence o f debt purporting to be issued by any banking
corporation or body corporate, not chartered by the legislature o f this State or that o f
some other State in the United States, and the circulation o f which is prohibited by this
act, shall forfeit for every such offence the sum o f fifty dollars, to be recovered with costs
in the same manner provided in the second section o f this act.

STAMP DuflES IN ENGLAND AND SCOTLAND.
T he nett revenue derivable in England from stamp duties in the year 1847 was
£6,505,888, v iz: deeds, £1 ,70 3 ,0 4 2 ; probates o f wills and letters o f administration,
£ 9 0 2 ,3 8 0 ; bills o f exchange, £ 4 2 6 ,5 5 9 ; bankers’ notes, £ 9 ,6 9 6 ; composition for the
duties on bills and notes o f the Bank o f England and o f country bankers, £ 3 1 ,3 6 1 ; re­
ceipts, £ 1 4 1 ,2 1 5 ; marine insurances, £ 1 5 9 ,1 1 9 ; licenses and certificates, £ 1 7 7 ,1 2 9 ;
newspapers and supplements, and papers for advertisements, £ 2 84,3 38; medicine, £ 2 8 ,6 6 0 ;
legacies, £ 1 ,167 ,426 ; fire insurance, £ 9 5 6 ,2 2 9 ; gold and silver plate, £ 6 8 ,2 5 2 ; cards,
£ 8 ,432 ; dice, £ 9 4 ,0 0 0 ; advertisements, £133,567 ; stage-coaches, £ 1 7 5 ,8 5 0 ; hack­
ney-coaches, £ 4 6 ,0 9 5 ; railways, £79,058. T he stamp duties in Scotland, within the
same period, yielded £576,544.
L A N D A N D A SSE SSE D T A X E S I N E N G L A N D A N D S C O T L A N D .
T he land and assessed taxes levied in England and Scotland in the year 1847 yielded
to the national exchequer £4,553,859, viz: England, £ 4 ,266 ,088 ; Scotland, £287,771.
T he English revenue is thus made up:— Land tax, £ 1 ,119 ,878 ; window tax, £1,544,356 ;
servants, £193,919 ; carriages, £ 4 0 0 ,4 5 7 ; horses for riding, £ 2 9 3 ,9 9 8 ; other horses and
mules, £67,379 ; dogs, £137,757 ; horse dealers, £ 9 ,3 6 8 ; hair powder, £ 2 ,6 8 9 ; armo­
rial bearings, £ 6 5 ,4 4 1 ; game duties, £ 1 4 3 ,5 5 1 ; composition duties, £ 1 9 ,4 6 6 ; addition­
al 10 per cent, £269,844 ; penalties, £171.




656

Journal o f Mining and Manufactures,

JOURNAL OF MINING AND MANUFACTURES.
M A N U F A C T U R E O F IR O N IN A L A B A M A .

W illiam W . W . W ood, Esq., formerly a resident o f Tuscaloosa, Alabama, but now re­
siding in Boston, Massachusetts, has written a letter to our friend, the Hon. B enjamin
F. Porter, Esq., at Tuscaloosa, which contains information o f importance to those en­
gaged in the iron trade.

T he Tuscaloosa Monitor informs us that Mr. W ood is thorough­

ly acquainted with the subjects on which he writes. Since writing this letter, Mr. W .
states that L o w M oor iron from Scotland, the best used for manufacturing locomotives it,
Boston, cost $ 1 2 0 per ton. T he next best, he says, is the hammer iron, made from ore
at Sale'sburgh, Connecticut— costing at that time, (Feb. 3d, 1848,) $ 1 0 0 per ton.

B oston, M ass., Feb. 3, 1848.
Hon. B. F. P orter, S ir:— I have taken the liberty to address you on the subject which
is not only o f interest to yourself, but o f the utmost importance, I conceive, to the people
o f Alabama generally, among whom I still include myself, though not at present one of
their number. It is on the subject o f making iron from the vast beds o f ore lying almost,
i f not entirely neglected; constituting, in no small degree, a latent wealth, which only re­
quires energy, properly directed, to enrich those who may develop the resources o f the
iron and coal regions o f Alabama, by embarking at once in the manufacture o f that most
useful o f all metals, iron. Its uses and application to machinery I have been intimate
with from my boyhood, and only regret, that instead o f embarking my means in planting
cotton, when I first located in Alabama, I had not followed my inclination, and an object
more suited to my former pursuits.
T o yourself, my dear sir, does Alabama owe, in a great degree, her present, and I trust
not temporary, awakening from her Southern lethargy to her true policy in doing some­
thing to elevate herself among her sister States, by no longer neglecting to build her rail­
roads, and protect herself by manufacturing for home consumption. I have been examin­
ing, since my return from the Gulf o f M exico, last summer, the different processes by
which the best qualities o f iron were made, and at the least expense, and so astonished
am I at the result o f my observations, that some time ago I wrote to Professor Barnard,
and to Mr. Allen W oolley, o f Tuscaloosa, desiring them to give me information as to the
qualities o f the ores, how deposited, their proximity to the bitumens, navigation, &c., &c.,
alluded to in Professor Tuom ey’s reports o f his geological survey o f Tuscaloosa county,
and the counties adjoining. I have just received their answers, and am convinced there
can be no risk in such an enterprise. By a new process I saw in operation, an iron o f the
very best quality is made directly from the ore, at the rate o f one ton o f 2,240 lbs. per 24
hours, at a cost o f $ 1 6 per ton, and a consumption o f from 170 to 200 bushels o f charcoal,
the cost o f which is included in the expense o f producing the one ton. Expense o f work­
ing a single forge $ 1 0 per day, and the machinery requisite for a single forge would be
sufficient to keep six forges in operation— consisting o f one direct action steam-hammer,
one steam-engine and blast cylinders, and, if requisite, to make other iron— then tilted
bars or blooms, a train o f small rolls would be required. One bloomer can attend six
forges as well as o n e ; therefore, to work a single forge would be attended with no
economy.
I have consulted the oldest iron masters from different parts o f the iron regions here,
who met to witness the new process alluded to in operation, who think a complete revo­
lution must and will take place by its discovery and consequent introduction ; and many
have gone into it, and are now in successful blast— by it the very best quality o f wrought
iron is made directly from the ore, much cheaper than the pig iron from which the wrought
iron is subsequently made (when carried on to any extent) at a loss o f 20 per cent in the
weight o f the pig. T he cost o f converting the cast pigs into wrought bars is $ 2 0 per ton,
to make nothing more than the blooms, which require nothing more than the furnace and
hammer in their production. A furnace or furnaces may be worked advantageously 255
days in the year, excluding Sundays, and allowing 45 days for repairs, contingencies, & c.—
say four furnaces in operation to produce three tons o f iron per day, which would allow
for each furnace per day 1,680 lbs. o f iron, being 560 lbs. less than what is estimated can




657

Journal o f Mining and Manufactures.

be turned out per furnace. Iron produced, 3 tonsX255 working days, 765 tons— worth, in
Boston or N ew Y ork, $ 6 0 per ton, (7 6 5 x 6 0 ).......................................................
$45,900
Professor Barnard informs me it will cost $ 8 0 40 per ton to deliver the iron at
the wharf in Tuscaloosa, from the ore beds, or $ cents per lb.— first trans­
portation...............................
$6,426
Transportation from Tuscaloosa to Mobile o f 765 tons, at $ 3 per ton

2,295

From Mobile to the north, $ 3 per ton..................................................

2,295

T o deliver 765 tons from the works in Alabama in N ew Y ork or
Boston.......................................................................................................

1,106

Cost o f making 765 tons o f iron, say $ 2 0 per ton...............................

15,300

Entire cost o f transportation to a northern market, including the cost
o f making it, which is an excess o f $ 4 per ton at $ 2 0 .....................................

26,316

Leaving a nett profit of...............................................................................................

$19,584

Making more than a fair allowance for production, and plus allowance for transporta­
tion, even to a northern market. This is, indeed, putting the experiment to an extraordi­
nary result; for if it were intended to send the iron north, I could readily engage it to
anchor makers and forgers for more than $ 6 0 per ton. But again, if the ore is as repre­
sented, the bloom can be sold to iron wire makers for $100 per ton.
In going into the business in Alabama, I should do so with the expectation o f finding a
home demand, though it should be necessary to put into operation a set o f rolls, which
would enhance its value in a greater proportion, (the cost o f transportation being the same,
and the value .of the article increased,) than the expense o f labor to so produce it.
T he cost o f erecting the works will be small, and its management not by any means as
difficult as is generally supposed.
It may seem almost impossible that $ 3 per ton would pay the transportation from M o­
bile to N ew Y ork or Boston. But shippers o f cotton, in the absence o f other freight to
northern ports, are compelled to ballast their vessels, therefore iron would prove accept­
able at the price above named, as cotton itself is not sufficient weight (when full in bulk)
on board a vessel, to render her sailing trim such as is required, without additional weight,
and large quantities o f lead are annually shipped from N ew Orleans on very favorable
terms, from the above circumstances. I should not, however, have you regard the matter
o f shipping iron North as being for a moment entertained ; I only mention it, as before stated,
as putting the matter in a light beyond a doubt o f success. The question then arises, how is it
that iron makers at the North do not realize such results ? It may be answered from what I
have already stated, viz : the expense o f producing it by first making the pig and then re­
fining it— cost $ 4 5 per ton. T he process I have alluded to must change the modus operandi practised heretofore here— the absence o f charcoal in England will prevent her
from being our competitor in this mode o f producing iron. Again, I have been told by
one o f the best iron masters here, that his ore cost him $ 4 50 per ton, yielding 55 per
cent, and yet the quality o f his iron pays him. I could go on ad infinitum, but will con­
clude, as I have trespassed already too much on your valuable time. I will only add fur­
ther, that you must draw your conclusions, not from any calculation here made, but base
them simply upon what I assure you can be made in the way o f producing the article.
Your obedient servant,
W m . W. W. W ood.

C A L IC O P R IN T IN G IN C H IN A .
There are print-works in the city o f Canton, some o f which employ as many as fifty
work-people. T he inhabitants o f the suburbs, who wish to have their calicoes printed in
their own houses, engage itinerant workmen, who carry about with them the necessary
implements, and perform the operations where required. The impression is made with
blocks o f considerable dimensions, made o f a scarce wood called “ Tsap-mon,” which is
brought from Onam. The engraving o f the block is very carefully executed, and is ex­
pensive- Fashion is so little liable to change in China, that the same blocks generally
serve for about ten years; and the Chinese are so jealous o f foreigners, that it is with
difficulty, and only with high prices, that they will dispose o f them, fearing they might be
imitated by European manufacturers. T he habit o f the Chinese to do most things the
V O L . X V I I I . -----N O . V I,




42

658

Journal o f Mining and Manufactures.

reverse manner to that in which they are done in Europe, is in no instance more remark­
able than in the manufacture o f printed goods. Instead o f applying the block to the piece,
the block is a fixture, and the piece is applied to the block. The operations are perform­
ed, with slight variations, the same at all places in China where printed goods are man­
ufactured ; but those o f Ningpo may serve as an illustration. T he block being first ad­
justed, two men stretch tightly and adjust the cloth over the engraved part o f i t ; the form
or relief is, consequently, made to protrude those parts o f the cloth in contact with it be­
yond the general surface. The cloth is then made to adhere to the block by beating it
with a wooden mallet, first prepared by making numerous punctures in it with pointed
instruments. The workman then dips a suitable brush into water, and dexterously passes
it over the surface o f the cloth in such a manner that the parts protruded by the figures o f
the block only become moistened, which serves as a preparation for the reception o f the
coloring matter, and which is applied in precisely a similar manner, using color instead of
water. T he dry parts which have escaped the damping and coloring operations do not
easily absorb, though sometimes stains occur, which, however, are generally on the back
part o f the piece, as the front is that which adheres to the block. It requires great pre­
cision, a steady hand, and a quick eye on the part o f the workman, to touch with the
brush only the forms and designs which are projected— yet imperfectly visible— by the
block, and which are intended only to receive the color.
The workshops o f Ningpo are very small. In rooms looking on to the street, workmen
may be seen operating, and in the same chamber finished prints suspended. In another
room there may be, probably, another table at work, a stove to dry the pieces, and on
apparatus for the color ; and at the other end may be observed a species o f laboratory— a
miserable affair— and a kitchen. A Chinese printer can earn about two shillings a day.
The colors used are always o f a definite character; they never produce any modified tints,
being in perfect ignorance relative to the properties o f mordants.
A t Canton are manufactured very small handkerchiefs, with borders, white grounds,
and fillings o f blue, at about two shillings and sixpence per dozen. They also print larger
handkerchiefs, with colored grounds, the patterns o f large flowers, birds, & c., at about one
shilling each. They are shocking productions, and covered with stains. The only passa­
ble printed goods o f Chinese manufacture are brought from “ Liou-Tehou,” which is- the
Manchester o f China. The designs have quite an European character, from their neat­
ness and brilliancy o f color. Those o f Shanghai are very inferior. T he patterns consist
o f very grotesque figures, and the cloth is thick and inferior. Sometimes, however, fine
English long cloths are employed. It is remarkable that at the present day Chinese in­
dustry should have occasion to make such numerous calls upon that of other nations.
Their yams are often made from Indian cotton ; calicoes from Indian y arn ; and cloth,
which is printed or finished in China, is frequently English long cloth.
It has long been a question whether the cloth o f Chinese manufacture, known as “ Nan­
kin ” in Europe, owed its peculiar shade o f color to the chemical process o f dyeing. It ‘is
ascertained that the article is made from cotton which has naturally the yellow tint o f
Nankin, and which remains unchanged after the process o f spinning and weaving. It is
found on the banks o f the Yang-tze-Kiang, in the neighborhood o f Nankin, and on the
hanks o f the grand canal. Its color is attributed by many to the presence o f oxyde o f iron
in the soil where it grows ; this will explain, i f true, why, when these cotton-plants are
transplanted to another colony, they degenerate and produce white cotton. There are
also cotton plants in the provinces o f the Philippines, which produce cotton o f a red shade
o f color, and which also bear white cotton, if transplanted to another soil. These plants,
it is said, if re-transplanted to their original, will again yield red cotton.
N E W PR O C ESS F O R M A K IN G C A S T S T E E L A N D IRON .
Mr. Joseph Dixon, o f Jersey city, has invented a process for making cast steel, an
article for which we are now indebted to foreign countries to the amount o f millions an­
nually. The N ew Y ork Morning Star says:—
“ A large establishment for this branch o f manufacture is about to be erected at Jersey
city. T he iron to be used is from Adirondack in our own State, and the steel is pro­
nounced by competent judges, equal to the best imported from abroad. The peculiarities
o f this process, as we are informed, are the use o f the black lead crucibles o f the inventor’s
own make, and anthracite coal instead o f coke, which is used exclusively in Europe, with
clay crucibles.
“ Mr. Dixon has also succeeded in making pure iron in masses of any magnitude, a
result never before effected. This new metal will be o f great utility in the arts. In the
first place, in various kinds o f engraving, where it is now customary to take cast steel,




Journal o f Mining and Manufactures.

659

and after forming it to the required shape, to decarbonize it, it cannot be re-hardened
without injury, and it has to be left so soft that it is soon worn out in the hands o f the
printer; whereas, the pure iron can be hardened to that degree that thousands can be
worked o ff without dimming the original lines. This would be especially true in that
delicate land o f engraving called mezzotint. It is also suited to the manufacture of every
style o f fire arms, from the largest ‘ peace-maker’ to the smallest pistol— for lathe man­
drils, wire, and all purposes where steel is now used in moving machinery. Some o f our
first machinists have given the highest testimonials concerning its value. It is to be hoped
that the clever inventor will receive a better reward for this, than he has for numerous
other valuable and scientific improvements o f his own invention.”

IR O N M A N U F A C T U R E IN G R E A T B R IT A IN .
T he following facts, which we gather from a lecture on the history and practice of mi­
ning in the British isles, recently delivered in Manchester, England, and reported in the
M anchester Guardian, will show the advance which has been made in the manufacture
o f iron in the United Kingdom within a hundred years:—
TONS OF PIS IKON MANUFACTURED AT DIFFERENT PERIODS.
Y ears.

T ons.

Y ears.

T ons.

1740..
1788.
1796.
1823.
1825.

17,350
65,800
204,059
442,066
581,367

1828..
1830..
1840.
1845.

702,584
653,417
1,396,400
1,750,000

T he last statement, in respect to 1845, is only an approximation, being an estimate of
Mr. McCulloch. There has, since 1840, been no means o f ascertaining the extent of the
iron manufacture, through a feeling o f jealousy on the part o f the manufacturers. It is
estimated that it requires, three and a half tons o f coal to produce a ton of iron. Suppo­
sing the present manufacture not to exceed Mr. McCulloch’s estimate for 1845, the con­
sumption o f coal would amount to 6,125,000 tons a year. Add to this 3,000,000 tons for
the conversion o f pig iron into bar iron, and it would follow that 9,125,000 tons o f coal
are annually consumed in this single department o f British industry.
There is evidence that iron was worked extensively in Dean Forest, in England, as
early as 1065. So greatly had these works extended at the commencement o f the six­
teenth century, that a law was passed to restrain them from spreading further, on the
imaginary ground o f a scarcity o f fuel. Oliver Cromwell was an extensive ironmaster,
having been a partner in a firm which had large works in Dean Forest.
T he quantity o f manufactured iron .and steel imported into the United States from Great
Britain, during the last fiscal year, was not far from 65,000 tons, according to the annual
commercial and tonnage statements o f the Register o f the Treasury. Those statements
show, under different heads, the following importations:—
W ire ....................................................................................................................lbs.
Nails, screws, and spikes........................................................................................
Cables.........................................................................................................................
Wrought, for locomotives and engines..................................................................
M alleable..................................................................................................................
Saws............................................................................................................................
Anchors......................................................................................................................
A nvils........................................................................................................................
Blacksmiths’ hammers and sledges.......................................................................
Castings..................1..................................................................................................
Hollow ware, sad irons, and hinges................ ...................... . .........................
Axletrees, nail rods, & c ................... .....................................................................
Sheet and hoop iron................................................................................................
Pigs..................................................................................................................... cwt.
Scrap..........................................................................................................................
B a r ..;.............. .......................................................................................... ...............
Steel...........................................................................................................................

92,064
750,502
2,292,192
52,855
17,599
4,348
28,202
1,268,440
103,403
962,660
970,143
371,932
5,974,960
474,147
27,868
582,685
89,757

Equal to 65,175 tons, valued at $3,627,313, imported into this country from Great
Britain alone.




660

Journal o f Mining and Manufactures,
S A L E S OF C O PPE R O R E S IN E N G L A N D .

T he following is a correct statement o f the sales o f copper ores in Cornwall and Swan­
sea for the first quarter o f the present year:—
A t the sales, by public ticketing, in the county, there were sold 35,662 tons, producing
£195,212 15s. 6d., or a reduction from the produce o f last quarter o f 5,287 tons, and in
money £25,189. The produce averaged in both cases the same (8 J ;) the standard in­
creased from £ 9 6 18s. 6d. to £ 9 7 13s., and the prices rated from £ 5 10s. 6d. to £ 5 11s.
T he ores were purchased by the several smelting houses as follows:—
T ons.
T ons.
Value.
Value.
Mines R oyal............ 2,076 £9,579 9 6 Sims, Willyams &
C o......................... 5,498 £29,137 14
763
English Copper Co..
3,244 17 11)
Vivian & Sons......... 7,847 43,560 10 7 Williams, Foster &
Freeman & C o........ 5,542 28,959 1 10
C o......................... 8,265 55,347 0
Grenfell & Sons___ 5,387 23,852 14 7
1,531 6 2
Total............... 35,662 195,212 15
Crown Co................
284
In Swansea the total amount sold during the quarter has been 10,363 tons, realizing
£148,502 5s., or a reduction o f 2,115 tons on the quarter, and in money £15,34 4 3s. 6d.
T he purchases were made by the different companies as follows:—
English C o..............
Freeman & C o......
Grenfell & Sons....
Sims, W illyams &
Co........................
Williams, Foster &
C o........................

Tons.
207
2 68
1,352

Value
£ 3 ,8 9 8 15 0 Vivian & Sons........
3,756 10 6 Mines Royal...........
19,357 13 6 Messrs. Schneider.

Benj. Smith.............
1,298

19,532

3,131

45,0 16 17 9

T ons.

V a lu e .

2,977 £34,550 11 6
664
12,864 13 6
156
1,458 18 0
310
8,065 17 6

4 9

Total............... 10,363 £ 1 48,502

5 0

T he produce o f foreign ore sold during the quarter was from the following m ines:—
Tons.

Cobre...................
Chili......................
Australia.............
Cuba.....................
Copiapo................

849

74

Value.
£ 4 8 ,4 9 6 16
30,1 47 11
29,8 68 4
17,699 13
1,507 15

6
0
0
0
0

N ew Zealand
Santiago.........
T otal....

Tons.
42
12

Value.
£320
5 0
212 2 0

7,460 £ 1 2 8 ,2 5 2

6 6

T h e annexed table exhibits the sales o f Irish o re :—
..

Berehaven........... ..
Holy ford...............
Ballymurtagh...... ...
Lackamore..........

Tons.
1,101
'9 0 4
231
265
61

Value.
£ 6 ,5 3 2 3
6 ,124 13
4 ,4 1 6 18
767 19
458
6

0
0 Tigrony..........
0
0
Total......
0

Tons.
54
3
2,619

Value.
£ 2 1 6 18 0
62 2 0
£ 1 8 ,5 7 9 19 0

D ISC O V E R Y OF A M IN E R A L P A I N T OR C E M E N T .
“ Mr. W m . Blake, o f Akron, Ohio, called on us two or three days ago,” says the N a­
tional Intelligencer, “ and exhibited an article that must, we think, become o f great value.
It was discovered some time since in the township o f Sharon, Ohio, and is taken from an
excavation in a rock about twenty feet deep, and spreading over some six or eight acres.
T he substance is black, resembling indigo, and about the consistency o f cold tallow, when
taken from the mine, but an exposure for a few days to the atmosphere, turns it to a hard
slate or stone. It has been found upon analyzation to contain about one.half cilicia, onefourth alumina, and one-eighth pyrites o f iron, with lesser proportions o f magnesia, lime,
and carbon. From the extraordinary character o f the article, it is supposed by geologists
who have visited the mine, that there must be some fissure or crevice in the bottom o f the
ditch, through which the article, in a liquid state, was ejected from below.
“ W hen the substance is taken out, dried, ground to a fine powder, mixed with linseed
oil, and applied with a brush to either wood, tin, iron, cloth, paper, or bricks, and then
exposed a few months to the atmosphere, it becomes a perfect slate, impervious to the
action o f the weather, or to fire— the weather serving only to turn it to stone, and render­
ing it harder the longer it is exposed, while fire will char the substance to which it is ap­
plied before the slate will give way.




661

Journal o f Mining and Manufactures.

“ W e were shown specimens upon cloth and w’ood that were as fine specimens o f school
slate as we have ever seen, and would show pencil marks equally well. It is also suscep­
tible o f the highest polish, as we saw a piece upon w ood that was polished, and had the
appearance o f the finest Egyptian black marble. The article is o f much value, we should
suppose, for covering roofs, steamboats, dams, fences, buildings, and everything else re­
quiring protection from fire or the weather, or for fire fronts, carriages, or centre or pier
tables, as it is in fact elate in a liquid state when applied, and in a few months acquires
the solidity o f the finest slate.
“ W e learn from Mr. Blake, who has secured a patent for his discovery, that it is sold
at his place at $ 3 per 100 lbs., which will cover the roof o f a house thirty feet square, or
nine hundred superficial feet.
P R O D U C T IO N OF G O L D IN R U SSIA.
W e have given, in former numbers o f the Merchants’ Magazine, the recent discoveries
o f gold mines in Russia, the result o f which has been, in the course o f eleven years, to
raise that government from being one o f the poorest to be one o f the richest in Europe _
A n official paper, dated December 3d, 1847, furnishes some interesting facts on the
subject:—
T he following appears, by the return o f British consuls, to be the quantity o f gold pro­
duced in the empire o f Russia, in the ten years ending with 1846:—
1837..
1838.. .
1839..
1840..
1841..

£900,673
1,004,120
1,003,403
1,115,037
1,316,653

..
..
.

£1,848,808
2,635,386
2,730,647
2,792,156
3,414,427

1842.
1843.
1844.
1845.
1846.

It is added, in this return, that “ there is reason to believe that considerable quantities
have not been declared.” And, also, that new mines have been discovered in the Oural;
while the fact that an Imperial Ukase has lately forbidden the sale o f public estates in the
region o f the auriferous sands o f Siberia, justifies the inference that the government has
made successful surveys in that direction. In the Ukase o f March 31, 1847, which orders
the investment o f £4,600,000 in the English and French funds, the “ bullion fund” ex­
isting in St. Petersburgh is stated to amount to 114,000,000 o f rubles, or nearly £20,000,000
sterling.
IM P R O V E M E N T IN T H E M A N U F A C T U R E OF C A R R IA G E S P R IN G S ,
It is stated in the American Artisan, that Mr. E . T . Sprout, o f Springfield, Pennsylva­
nia, has invented a new improvement in the carriage, by connecting the spring and reach
together— the spring forming part o f the reach. T hey serve, thus combined, as braces to
the hind axletree.

The body loops are also a spring, and there is nothing but steel from

the axletree and bolster to the body o f the carriage.

T he motion of the carriage is thereby

rendered very easy, and only about fifty pounds o f comm on steel spring is needed for a
one-horse vehicle. By this improvement carriages can be made lighter, cheaper, more
suitable and more durable.

The spring used is the half elliptic.

C H A IN M A N U F A C T U R E IN B IR M IN G H A M , C O N N E C T IC U T .
In the village o f Birmingham (Connecticut) there is a machine tor making brass chains,
and works as i f endowed with human instinct.

B y every turn o f the driving wheel the

wire for the chain is wound o ff a reel and pulled forward to its proper place and position,
the end running through the last formed link, exactly the length for two links cut off,
first one end turned over into a link, then the other, the former dropping down through
the machine, leaving the latter projecting above, so that the wire can be instantly pushed
through it, when it is cut off, two more links formed, and so on, until a large roll o f wire
is transformed into a perfectly formed chain by the operation o f machinery.




662

Railroad, Canal, and Steamboat Statistics.

RAILROAD, CANAL, AND STEAMBOAT STATISTICS.
M A S S A C H U S E T T S R A IL R O A D S IN 1840 A N D 1847.
In the Merchants’ Magazine for April, 1848, we published a complete description o f the
railroads o f Massachusetts, with full statistical tables embracing every item o f importance,
prepared expressly for our journal by D a v i d M . B a l f o u r , Esq., o f that State. It is proba­
bly the most recent and comprehensive account that has been published.
Daily A dvertiser, edited by

N

H

a t h a n

a l e

,

The Boston

Esq., the President o f the Worcester Railroad

Company, and perfectly familiar with the system in that State, furnishes us with the fol­
lowing comparative statement o f the railroads o f Massachusetts in 1840 and 1847, which,
in connection with the article alluded to above, may be considered as a most valuable con­
tribution to this branch o f commercial enterprise in the eastern portion o f the Republic.
P A R T

O F

M A SSA C H U SE TTS

R A IL R O A D S

IN

1847.

STATEMENT OF THE LENGTH OF ELEVEN RAILROADS IN MASSACHUSETTS, W ITH THEIR BRANCHES ;
TOGETHER W ITH THEIR COST, INCLUDING STATIONS AND MACHINERY, AND THEIR INCOME, E X PENSES OF WORKING, AND RATES OF DIVIDEND PAID, i n 1847.

Railroads.
Boston and Providence..
Branches......................
Boston and W orcester...
Branches......................
Boston and Lowell..........
Branch..........................
Eastern.............................
Branches.......................
Taunton Branch.............
N ew Bedford...................
Branch..........................
W estern ...........................
Branch..........................
N orw ich...........................
Boston and M ain e.........
Nashua.............................
Fitchburg..........................
Branches.......................
T o ta l........................

L ength.

41
6.6
44$
14
26
2
53
20
11
20
1
156
18.65

5

621

Expenses.

Div’nds,
Per ct.

$363,328

$175,345

74

4,113,609

722,170

381,985

10

1,956,719

448,555

253,408

8

2,937,206

424,840

135,083

8

j
! $2,544,717
1
,

!
l
j
!
I
j

!

(
j

!

<
j

!
i

66

73
9
144
50

Income.

C ost.

i

!

<
'

j
!

303,742

53,727*

18,278*

8

483,882

91,044*

29,519*

8

8,769,473

1,325,336

676,690

8

2,187,249

234,895

141,433

0

3,021,172

492,510*

186,032*

9

157,335

96,937

10

376,110*

153,099*

10

500,000
2,406,723

j

$29,224,492

$4,689,446

$2,247,709

O f these 621 miles o f road, 1264 miles consist o f double track, and 76 o f branches.
Besides the 16 branches embraced in the above statement, there are five other branch rail­
roads, already built, or in progress, at the expense o f independent companies, which are,
or when finished will be, worked by the companies above named, measuring 26 miles in
length. T he proceeds from the working o f these branches go into the above statement
o f income, and the rents, or tolls, paid for the use o f them, go into the account o f expenses.
For the purpose o f showing the change which has been made in the condition and pro­
ductiveness o f these railroads during a period o f seven years, we here republish a state­
ment, similar in its character to the above, which was published by us in the year 1841,
showing the state o f the same roads at that time. A ll the roads have within this period
received important accessions, in the length or number o f their tracks, and in other im­
provements. T w o o f them have undergone a remarkable transformation, and are in fact
new Works, though based on the works then existing, v iz : the Boston and Portland, then
20 miles in length, which is connected with the Boston and Maine, 73 miles in length ;
and the Charlestown Branch, which is absorbed by the Fitchburg, and made part o f an
extended line, embracing several branches in addition to the main road, originally termi­
nating at Charlestown, but now extended to this city.
*

E x c lu s iv e o f a m o u n ts c o lle c t e d fo r tra n s p o rta tio n o n o th e r r o a d s, a n d p a id o v e r t o th e m .




663

Railroad, Canal, and Steamboat Statistics.

MASSACHUSETTS r A l r OADS IN 1840.
T he following table exhibits the present extent, and the cost o f the railroads o f Massa­
chusetts, with the produce o f each during the year 1840, from the transportation of pas­
sengers, freight, and other sources, the current expenses o f the year, including the cost of
working, as well as o f repairs o f roads, engines and cars, and the dividends o f profits paid
to the stockholders:—
D iv ’ n d s.
P e r ct.

R a ilr o a d s .

L en gth .

C ost.

R e c e ip ts .

E xp en ses.

Providence....................
Worcester.....................
L ow ell..........................
Eastern.........................
Taunton Branch..........
N ew Bedford...............
W estern.......................
N orw ich ......................
Boston and Portland..
Nashua.........................
Charlestown Branch...

*41
145
26
§38
11
**20
+ tl5 5
tt59
20
144
14

$1,782,000
2,200,000
1,800,000
2,186,990
250,000
395,900
6,647,829
1,777,471
523,091
368,703
93,381

$202,601
267,547
231,575
199,134
[|39,478
26,437
112,347
116,517
72,377
40,364
3,545

$131,109
140,441
91,400
117,447
21,483
13,026
62,071
52,503
41,431
52,532
2,582

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

430$

$18,025,365

1,313,922

$726,026

*

7
6
8
6

6
3

5$
U

E x c l u s i v e o f t h e D e d h a m B r a n c h , o f 2 m ile s .

t T h i s it e m in c lu d e s , in a d d i t io n t o r e c e ip t s f r o m p a s s e n g e r s a n d fr e ig h t, t h e s u m r e c e iv e d f o r c o n v e y a n c e
o f t h e m a il , r e n ts , a n d a ll o t h e r s o u r c e s o f in c o m e .
X E x c l u s i v e o f M il lb u r y B r a n c h , o f 3 m ile s .
§ E x c l u s i v e o f 1 5 £ m ile s o f r a il r o a d in N e w
b u ilt b y a s e p a r a t e c o m p a n y , a n d le a s e d t o t h e
T h is ro a d w a s o p e n e d to N e w b u r y p o r t J u n e 19,
r a t i o n d u r i n g t h e f ir s t p a r t o f t h e y e a r o n l y t o

H a m p s h ir e , e x t e n d in g fr o m t h e S t a t e lin e t o
E a s te rn R a ilr o a d o f M a ssa ch u se tts fo r a te rm
a n d to P o rts m o u th N o v e m b e r 9 ,1 8 4 0 , h a v in g
I p s w i c h , a b o u t h a l f it s l e n g t h .
T h e it e m o f

c l u d e s t h e in t e r e s t o n t h e S t a t e l o a n , a n d t h e a m o u n t p a i d u n d e r t h e l e a s e t o
H a m p sh ir e ro a d .

P ortsm ou th ,
o f 99 years.
b e e n in o p e ­
e x p e n s e s in ­

th e p r o p rie to rs o f th e N e w

|| E x c l u s i v e o f $ 2 3 , 1 8 8 p a i d t o t h e B o s t o n a n d P r o v i d e n c e R a i l r o a d C o r p o r a t i o n .
** T h is r o a d w a s o p e n e d J u ly 2 , 1840.
t t I n c l u d i n g t h e A l b a n y a n d W e s t S t o c k b r i d g e , w h i c h is b u i l t a t t h e e x p e n s e o f t h e W e s t e r n R a i l r o a d .
C o r p o r a t i o n , u n d e r a le a s e f o r its w h o l e t e r m o f d u r a t i o n .
T h e it e m o f c o s t in c l u d e s t h e e s t im a t e d c o s t
o f c o m p le tio n .
A p a r t o n l y o f t h e r o a d is in o p e r a t i o n .
O f t h i s l e n g t h , 3 9 m i l e s a r e in t h e S t a t e o f C o n n e c t i c u t .

MASSACHUSETTS RAILROADS, RECENTLY OPENED WHOLLY OR IN PART.
R a ilr o a d s .

Old Colony.......................
Fall River.........................
Prov. and W orcester*....
Connecticut River...........
Hartford and N. Havent
Pittsfield and N. Adams.
Berkshiref........................
Vermont and M ass.§.....
Stoughton Branch!..........
Dorchester and M ilton !.
Essext...............................
T otal.............................

L en g th .

37$
4 1 4-5
43$
36
5|
18f
21
58J
53§
4
3$
2
326

Grand total...... ............ 1025
*

O p en ed O ctob er 20.

C ost.

R e c e ip ts .

E xp en ses.

$1,636,632
1,070,988
1,756,755
1,167,156
193,402
446,353
600,000
1,143,638
949,212
94^576
74,265
160,252

$171,153
111,354
30,401
123,951

$74,719
77,986

25,974
42,000
6,292

17,798

24,951

18,823

$9,099,827

$439,670

$239,344

$38,324,319

$5,129,116

$2,487,053

D iv ’ n d s.
P e r ct

6$

50,018

7

6

3,594

f U n i t e d w it h r a il r o a d in C o n n e c t ic u t .
$ L e a s e d a n d u n fin is h e d .

X L eased.

In addition to the above, the following railroads are chartered, the companies organized,
and the amount stated paid in by the stockholders or expended on the works:—
R a ilr o a d s .

South Shore...................
Cape Cod Branch..........
Worcester and Nashua.
Norfolk County..............
iPeterboro’ and Shirley.




L en g th .

A in ’t p a id .

R a ilr o a d s .

L en gth .

11
$42,190 Grand Junction.......................
27 4-5 257,433 Lowell and Andover....
12$
45$
567,850 Stony B rook...................
13
25
32,345
Total.
12
111,955

A m ’ t p a id .

$450,947
106,064
54,825

664

Railroad, Canal, and Steamboat Statistics.

Including the above expenditure on unfinished railroads, the amount expended on rail­
roads in Massachusetts to the end o f 1847 is $39,948,928, o f which three-fifths paid in
the last year dividends o f 8 per cent or upwards.
P A S S A G E A N D F R E IG H T R A T E S ON T H E L A K E S .
The steamboat and propeller proprietors on the lakes have entered into an arrangement,
and adopted the following tariff o f prices— price o f freight to be increased after the 1st of
September, 1848:—
PRICES OF PASSAGE ON LAKE ERIE.
C a b in
passage.

F r o m B u ffa lo to —

Erie....................................................................... . ...
Conneaut and Ashtabula...................................
Fairport and Cleveland.....................................
Black River, Huron, and Sandusky................
Maumee River....................................................
Monroe and Detroit...........................................

$ 3 00
4 50
5 00
6 00

Furniture and luggage to any port, 50 cents per bbl. bu lk:
single, $ 2 50.

S teera g e
p assage.

O xen and
h orses.

$ 2 00
$ 2 50
2 00
3 50
4 00
2 50
5 00
3 00
5 00
3 00
6 00
3 00
wagons, double, $ 3 (

PRICES OF PASSAGE TO THE UPPER LAKES.
F r o m B u ffa lo t o —

C a b in
p assage.

S te e ra g e
p assage.

O x en and
h orses.

$ 1 0 00
$ 6 00
Mackinaw........................................................... ....
$ 1 0 00
10 00
12 00
6 00
Milwaukie, Racine, Southport, and Chicago.
Furniture and luggage to Mackinaw, and any port on Lake Michigan, $ 1 00 per bbl.
bulk ; wagons, double, $ 5 0 0 ; single, $ 4 00.
Foreign emigrants’ luggage, 60 cents to upper lakes, and 30 cents per 100 on Lake Erie.
Prices o f freight on Lake Erie, to August 21, inclusive : from Buffalo to Detroit and
intermediate ports on Lake Erie, heavy, 15 cents; light, 20 cents.
Prices o f freight on the upper lakes, to August 31, inclusive: from Buffalo to Chicago
and intermediate ports on the upper lakes, heavy, 20 cents; light, 35 cents.
C IN C IN N A T I A N D W A B A S H T R A D E — C A N A L T O L L S .
T he La Fayette Journal says, we are authorized to state that the Board of Public W orks
o f Ohio, in conjunction with the Trustees o f the Wabash and Erie Canal, have made a
material change in the charges upon this trade. On merchandise, the reduction o f toll,
from Cincinnati to La Fayette, amounts to 16 per cent, and on groceries, such as sugar,
molasses, coffee, & c., the reduction amounts to 42 per cent. W ith these charges, it is sup­
posed that groceries may be brought from Cincinnati to La Fayette for 50 cents per hun­
dred, including toll and freight. It is the intention o f forwarders engaged in this trade to
put on an additional number o f boats, and a large increase in this branch o f canal trans­
portation is anticipated.
On the Toledo trade there is no great change. Merchandise will hereafter pay an uni­
form toll df 20 mills per mile per 1,000 lbs., throughout the canal. On lumber, shingles,
shingle-bolts, & c., the toll has been reduced near 25 per cent. Some reduction has been
made on passengers, and their furniture, with a view particularly o f favoring emigration.
On produce there is no change.
W ith a view further to promote the interest o f the trade with Cincinnati, we under­
stand that an earlier opening o f the canals, than has hitherto been customary, will be
aimed at
R A IL R O A D T R A V E L L IN G F O R T H E M ILL IO N .
T he Boston Traveller says that w the authorities o f one o f our roads, whose president
is a thoroughly practical man, are organizing a system o f cheap travelling, for the thou­
sands in our city and outskirts, who are,, at present, in a measure, deprived o f healthful
exercise o f this kind, through lack o f means.” The plan is said to resemble cheap
steamboats, & c., o f London, who carry thousands o f the working classes o f that city into
the villages, at the very cheap rate o f from one to three pence each. “ This plan,” says
the Scientific American, “ would enable hundreds and thousands o f our working classes
to make an excursion o f five or ten miles, at an expense stated o f three cents per head
each way. It is also stated that the plan will be tried the coming summer. It will,
without doubt, i f fairly tried, be o f great benefit to the people, and profit to the originators.




Nautical Intelligence.

NAUTICAL

665

INTELLIGENCE.

C O R A L R E E F S D ISC O V E R E D .

T he accompanying notice has been received at Sydney, N . S. W ales, from Captain the
Count Du Bouzet, o f the French corvette La Brilliante, communicating the discovry o f
the Coral R eels:—
On the 28th August, 1847, the French corvette L a Brilliante, by reckoning, in lat.
23 ° 9' 30" south, and Ion. 167° 51' east, (from Paris,) discovered a shoal ahead, very
near the ship, at the distance o f little more than a cable’s length ; the commander gave
orders to wear, and to heave to on the other tack, it was then only that bottom could be
found; two soundings were obtained, o f twenty and twenty-three fathoms, on a rocky
bottom, no other indication being visible on the sounding lead than the removing o f the
arming. Immediately after, soundings could not be obtained with fifty fathoms, the cor­
vette being then about three cables’ lengths to the E. \ S. E . o f the shoal. There was
very little water upon it, at most, two or three metres, (from 6 5 to 9 75 feet.) The shoal
appears to be a mass o f coral, its form is round, and it is about 40 metres wide. It is the
more dangerous, as the sea did not break upon it, although there was a heavy swell. The
weather cleared in the forenoon, so that good observations for time could be taken, and
an excellent latitude at noon. W ith the aid o f these observations, the position o f the dan­
ger was fixed (approximately) to be in 23° 13' 52" o f south latitude, and 167° 35' 18"
east, o f the meridian o f Paris; and, consequently, a considerable distance from the Durand
reef, as marked on the charts. T he commander o f the corvette called it La Brilliante’s
shoal.
CORAL REEF DISCOVERED TO THE NORTH-EAST OF THE W ALLIS ISLES B Y AN AMERICAN WHALER.

The ship Lalla Rookh, o f New Bedford, Captain Reynard Ower, discovered a reef o f
coral forty miles to the north-east o f the Wallis Isles: ten fathoms o f water were found
on it. The ship was going at the rate o f three knots, and was two hours in passing over
the bank, running W . ^ S. W . T he captain supposed that the reef extended about two
miles on each side o f his course. In many parts there appeared to be less water. The
latitude o f this reef is 1 ° 32' south, and its longitude 175° 38' west o f the meridian o f
Greenwich. This information was given by Captain Reynard Ower, o f N ew Bedford,
during: his stay at the Wallis Isles.

P O R T OF M O U L E , G U A D A L O U PE .
The following extract o f a letter from William Mabee, Master o f the brig Petrel, con­
tains information valuable to navigators :—
A s this place is not laid down on any chart, or described in any book that I have seen,
I think a description o f it will be o f service to my seafaring brethren.
This port, which is often visited by vessels from the United States, and also from other
parts, is W . N. W . 11 miles from Points Chateau, and 18 miles W . from the N. E. end
o f the island o f Descada. T he entrance to it is between two reefs, which protect i t ; but,
when the sea is heavy, which is often the case, it breaks entirely across the channel, which
prevents vessels from passing in or out, and causing such a sea in the harbor that it is
difficult to land or take in cargo. W hen once in, you moor head and stem with bower
chains to anchors secured in the rocks on each side o f the harbor— with the wind from S.
E . by S. and to the southward o f it, they cannot leave. It is not uncommon for vessels
to wait from six to twelve days for a chance to get in, and I was nine days waiting for an
opportunity to get out. Vessels drawing over thirteen feet o f water should not visit this
place. The hire o f a launch is from twenty to twenty-five francs per day, and should you
damage one, which is sometimes the case, will have a pretty round sum to pay for the re­
pairs o f it. Sand ballast can be had for the trouble o f taking it from the beach. Stone
ballast costs $ 1 per ton, put on board. Water costs $ 1 per 100 gallons.
The town contains about 4,000 inhabitants, and is eighteen miles from Point-a-Pitre,
over a good road and through a well-cultivated part o f the island.
W m. M abee, M aster o f brig P etrel*




666

Mercantile Miscellanies.
B A N K O N T H E F JO R D G R U N D E .

In the North-East direction o f the Fjordgrunde, a small narrow bank has formed, over
which in some places there is at times only from 6J to 7 feet water. T w o Broom Bea­
cons are now placed on the Bank, which vessels drawing much water on entering the
Fjord must keep on their North side. The more Northerly o f the Beacons is provided
with an arm, pointing to the N. W . ; the other on the Western side has also an arm, point­
ing in the opposite direction. T he Fjordgrunde is from thence onwards marked out by five
brooms on the Eastern, and four on the W est sid e; with regard to the remainder from
thence on in a South-Easterly direction, it is provided in the same manner with brooms
as it was last year.
L IG H T O N F O R T S T . JU LIEN.
A fixed Light, o f greater brilliancy than the former, was exhibited at Fort St. Julien,
Lisbon, on the night o f the 4th o f April, 1848, and will be continued in future.

MERCANTILE

MISCELLANIES,

P R O D U C T IO N O F C O T T O N I N IN D IA .

T he evidence as to the practicability o f the cultivation o f the cotton crop in India, was
gone into before the select committee o f the British House o f Commons, on the 29th of
February, 1848, Mr. Bright in the chair. T he first witness was Mr. Francis William
Prideaux, o f the East India House, who came furnished with documents to show the ob­
stacles which existed to the growth o f cotton in that country. Having described the past
condition o f the ryots, and the revenue system, as established by Sir Thomas Munro and
others, he stated he was not prepared to describe the actual condition o f the cultivators at
present. The cultivator o f cotton, however, was not differently situated from the cultiva­
tor o f other produce, with regard to the assessment o f the land. This was regulated by
the quality o f the soil, and not with reference to the nature o f the produce. Statements
were then put in o f the lands now under cultivation for cotton, in the several districts
where it is now being grown. A ll duties on the export o f cotton from India to all coun­
tries, had been abolished by the Governor-General— in Bengal, 1836; Bombay, 1838;
and in Madras in 1844, at the request o f the court o f directors. Means had been taken,
in November last, to ascertain the extent to which cotton might be obtained from India,
by means o f queries circulated among the different collectors; and, when the replies had
been received, full information would be obtained on this important point. He believed
the land revenue bore such a proportion to the value o f the cotton produced, that very
little profit was left to the cultivator. T he practice o f making advances to the ryots, by
the Government collectors, was now discouraged, but not discontinued. These advances
had been a source o f little lo6s to the company ; and the disadvantage o f making them
was, that it led to the ryots not relying upon their own efforts. The company had been
induced to turn their attention to the cultivation o f cotton in India, by representations
from the manufacturing districts o f this country; the great difficulty was in getting it
cleaned; but there would be no obstacle, in this respect, if a higher price was offered to
the cultivator on the spot.
Dr. Royle, a medical officer in the service o f the East India Company, and chief botan­
ist at the gardens at Saharaunpore, in the Himalayan Mountains, was the next witness;
and he gave evidence to show the capabilities o f the soil o f India for the cultivation o f
cotton.
T H E E N G L ISH W IN D O W D U T Y .
T he people o f the United Kingdom bear taxation in all its forms very quietly, and turn
out right loyally to sustain an extravagant government. A single illustration is given in
a parliamentary paper just printed, from which it appears, that in the year ending the 5th
o f April, 1846, the number o f houses charged to the window duty was 463,018. T he
duty assessed thereon was £1,827,413, and the nett amount received £1,764,163. In the
year 1847 the houses charged numbered 474,245, the duty assessed £1,864,765, and the
nett amount received £1,788,664. Liverpool, in 1846, had 10,325 houses charged with
duty, the amount assessed was £31,497, and the amount received £29,836.




Mercantile Miscellanies.

667

OCEAN P E N N Y POSTAGE.
L et England apprehend her destiny and duty now, when world-wide measures are re­
quisite for the well-being o f mankind. Unless some .great physical revolution supervene,
to arrest or cheek the propagation o f the English race, in 145 years it must number
800,000,000 souls— outnumbering the present population o f the globe! Shall England be the
centre, the soul, and seat o f moral and commercial legislation o f this mighty race, at such
an epoch o f its history ? Then let her establish an O cean P enny Postase now. R ow ­
land Hill has stated, publicly, that nearly half o f the entire correspondence o f the United
Kingdom passes through the city o f London. Let him expand the Penny Post to the
compass o f the ocean, and he may live to say that half o f the entire correspondence o f
the world passes through England and England’s ships to all the sea-divided habitations
o f men. Let the testimonial o f England’s debt to his beneficent genius be deferred, until
the people o f every clime, color, and country, beyond the sea, and the inhabitants o f the
far-off ocean islands, may add a world’s tribute o f gratitude for an Ocean P enny P ostage.
London, M ay 6, 1847.
E lihc B urritt.
“ SE N D

T H E

L E T T E R S , U N C LE

J O H N .”

B Y H. G . ADAM S.

U n c l e J o h n is s t o u t a n d s t u r d y ,
U n c l e J o h n h a s g o l d in s t o r e ,
M ig h t y fle e ts u p o n t h e o c e a n ,
M e r c h a n d is e u p o n t h e s h o r e ;
L a n d a n d h ou ses, sh eep an d o x e n ,
C o r n in g r a n a r ie s a n d f i e l d s ;
A l l t h a t g i v e t h e a s e o r p le a s u r e ,
O r t o m a n su b siste n ce y ie ld s .

U n c l e ’ s s h ip s a r e e v e r p a s s in g
A n d r e -p a s s in g o ’e r t h e w a v e ,
A n d o u r y e a r n in g h ea rts d o e v e r
T id in g s o f th e a b s e n t c r a v e —
N e w s o f r e la t iv e s w h o t r a v e l,
O f t h e fr ie n d s a fa r w h o d w e l l ;
W e w o u ld k n o w h o w fe e l th e y , fa re th e y ,
H o w th e y p rosp er— ill o r w e ll.

U n c l e J o h n h a s m a n y c h ild r e n ,

G r e e t in g s e ’ e r s h o u ld p a ss b e t w e e n u s ,

S c a t t e r ’ d w id e ly h e r e a n d th e re ,
A n d th e la n g u a g e th a t h e sp e a k e th

A n d t h e h e a r t ’ s f o n d in t e r c h a n g e ,
B u t, a l a s ! w e ’ re n e e d y , th e re fo re

I t is s p o k e n e v e r y w h e r e .
W h e r e s o e v e r fo o t h a th tro d d e n ,
T h e r e th e son s o f U n cle J oh n
T r a v e l, tr a d e , a n d p r e a c h th e G o s p e l—
E arn est w ork ers e v e ry on e .

D is t a n c e m u s t o u r th o u g h ts e s tr a n g e ;
A n d t h e w h i t e - w i n g ’ d h e r a ld s , a s t h e y
P lo u g h t h e w a v e s t o e it h e r s h o r e ,

O n t h e b u r n in g p la in s o f I n d ia ,
I n t h e f a r - o f f S o u t h S% a is le s ,
’ M id t h e s a n d -w a s t e , w h e r e b u t r a r e ly
B r ig h t t h e g r e e n o a s is s m i l e s ;
I n th e fo r e s t d a r k a n d p a th le s s ,
O n th e p r a ir ie w it h o u t b o u n d ,
O c e a n , la k e , a n d r u s h in g r iv e r ,

U n c l e J o h n ! d o s e n d t h e le t t e r s
B y y o u r s h ip s t h a t g o a n d c o m e ,
F r ie n d s a b r o a d w o u ld fa in b e w r itin g
U n t o a n x i o u s fr ie n d s a t h o m e ;
W e w o u l d w is h th e a b s e n t lo v e d o n e s
In o u r jo y s a n d w o e s to s h a r e ;
S e n d th em fo r a p en n y , U n c le !
I t is a l l w e h a v e t o s p a r e .

A r e th e s e s o n s o f B r it a in fo u n d .

T o r r id , t e m p e r a te , o r fr ig id ,
B e th e c lim a te w h a t it m a y ,
D a r in g d a n g e rs, o v e r c o m in g
D iffic u lt ie s , th e r e a re th e y .
S a v a g e c re a tu re s y ie ld u n to th e m ,
O r b e f o r e t h e i r s t e p s r e t ir e ;
N o u g h t c a n d a m p t h e ir s p ir it’ s a r d o r ,
N o u g h t t h e ir e n e r g ie s c a n tir e .

U n c le J o h n , h e h a th a b r o th e r ,
Y o u n g e r , y e t a w e ll g r o w n m a n ,
I n t h e w e s t h e is l o c a t e d .
A n d h is n a m e is J o n a t h a n ;
A n d h e , t o o , h a s m a n y c h ild r e n ,
R o a m in g s o m e o ’e r a ll th e e a r t h ;
M a n y m o r e a r e fix e d a n d s e t t le d
R o u n d a b o u t t h e ir p l a c e o f b ir t h .

S t u r d y fe lle r s o f t h e fo r e s t,
S t u r d y t ille r s o f t h e la n d ,
P lo u g h e r s o f th e d e e p , a n d h u n ters
’ M id th o s e r e g io n s w ild a n d g r a n d ,
W h e r e t h e r e d m a n b u il t h is w i g w a m ,
M a n y t h o u s a n d m ile s a w a y
F r o m t h e t r a c k o f th e “ p a le fa c e s ,”
W h o n o w d a ily p a ss th a t w a y .




M u st b e d u m b u n to th e m a n y
W a tc h e r s , d e so la te a n d p o o r .

F r e e a s a ir , a n d fr e e a s s u n s h in e ,
I n te r c o u rs e ’ tw ix t m a n an d m a n
S h o u ld b e r e n d e r’ d , h o w e ’ e r s u n d e r ’ d ;
Y o u c a n d o it , U n c l e , c a n !
W i l l , w e k n o w i t ; s e e h o w s m ilin g
Is y o u r fa c e , th e w h ile w e p r a y
Y o u , w i t h h a n d s in p o c k e t s , a s k i n g —
C a l c u l a t i n g — w i l l i t p a y "?
W i l l i t p a y 7— w h y , U n c l e ! U n c l e !
C a n y o u d o u b t i t 1 L ook a t h o m e ;
S e e h o w , fr o m a ll p a r t s , y o u r m a il-b a g s
D a ily w e ig h tie r b e c o m e ;
H e a r h o w a ll y o u r c h ild r e n b le s s y o u
F o r th e b o o n th e y here e n jo y ;
O h ! e x te n d it o ’ e r t h e w a te rs,
A n d ou r eager pen s e m p lo y !

W i l l i t p a y " ? — w h y , f i f t y le t t e r s
W i l l b e s e n t in s te a d o f o n e ;
F i f t y p e n c e f o r o n e p o o r s h ill in g ,
T h in k o f th a t, g o o d U n c le J o h n !
T h i n k , t o o , h o w ’ t w il l fo s t e r c o m m e r c e ,
A n d a l l f r i e n d l y t ie s i n c r e a s e ,
B in d in g n a t io n u n to n a tio n
In th e b on d s o f L o v e a n d P e a ce .

668

Mercantile Miscellanies.
THE COTTO N M ANUAL.

R . M orris, Esq., o f Mount Sylvan, Mississippi, has issued proposals for a work on the
subject o f Cotton, embracing its cultivation, transportation, and manufacture. It will be
divided into three parts, and form an octavo volume o f not less than six hundred pages,
and furnished to subscribers at $ 5 per copy.

T he author solicits aid from public-spirited

men o f every profession, who can afford him information upon any o f the topics treated
o f in this work.

Devoting his time entirely to travelling in the cotton-growing States,

he will be enabled to collect a vast amount o f useful matter on the subject; and, from our
knowledge o f his industry and ability, we have no hesitation in saying that he will produce
a most valuable work, and one that every planter and manufacturer will be glad to possess.
T he plan o f the work, which is more fully set forth by Mr. Morris, may be gathered from
the following extract from his prospectus:—
“ In the first volume will be embraced the practical experience o f the most successful
planters in every section o f the cotton States, from Carolina to Texas, relative to the most
approved agricultural implements, soils, manures, seasons, preparation o f the ground, and
general progress o f the planter’s business, from planting to ginning. This volume will
include engravings and descriptions o f farming tools, gin and press; botanical sketches
o f the cotton plant in the various stages o f its growth; drawings and descriptions o f the
different worms and insects which infest it, and a mass o f practical statistics highly useful
to the planter.
“ In the second volume will be exhibited matters relative to the transportation o f cotton,
whether by land or water; statistical tables o f the exports o f raw cotton from the United
States, and other cotton-growing countries, from 1790 to 1849, and tables o f prices to cor­
respond. This volume is particularly designed to give the commercial bearings o f ctur
great staple, and will be found equally useful to planter, merchant, and manufacturer.
“ The third volume, being chiefly devoted to manufactures, will contain model drawings
and description o f machinery for spinning, weaving, & c .; historical sketches o f the prog­
ress o f cotton manufactures in our own country and in others; custom-house statistics j
tariff laws, home and foreign; tables o f prices for manufactured cottons, and such other
parts o f this diversified subject as may be o f practical benefit to all classes.
“ A pamphlet o f references will accompany the book, containing names o f authors con­
sulted, and a complete list o f those persons whose practical knowledge has assisted, or may
assist the author in the preparation o f this work.
“ The advantages o f a work like this to guide the planter torthe most economical method
o f production, and the merchant to the soundest basis for commercial dealing, will appear
obvious to those who give the subject a consideration; while the statesman, the manu­
facturer, the literary man, and the general reader, may find mental profit and entertain­
ment in tracing out the connection o f this important staple with all the industrial arts, the
comforts and civilization o f man.
“ T he author’s qualifications for this work consist in a faithful attention to the subject
for a number o f years, an accumulation o f important facts in regard to it, considerable zeal
in literary pursuits, and a lengthy connection with the newspaper press. Personal inter­
course and correspondence with planters will make up a most valuable part o f his materials.
“ W hile all have granted him every facility in completing his plan, they unite in an opin­
ion o f the advantages to be expected from such a work, and encourage him to complete it.”
O L D -F A S H IO N E D C O M M E R C IA L L A W S .
It is curious to look back upon the early history o f commerce, and see the crude attempts
o f legislation in regard to i t ; and it is instructive, too, to note the tardy movement o f the
past towards the adoption o f a more liberal and rational system.
A s an example o f the spirit o f that period, we may refer to the portage and other duties
charged in the port o f London on the goods imported and exported by aliens, or by persons
who were the sons o f aliens. Whether it was in British or foreign ships that aliens in
London carried on their commerce, the duties were higher than were laid on similar goods
when imported or exported by natives.
It was only by very slow degrees that this law was modified and ameliorated. Even
so lately as under the 3d George, it was with difficulty that the law was so far changed as
to limit its application to trade carried on in foreign vessels by aliens, but at the same
time the statute expressly re-affirmed the right o f the Londoners to tax their fellow-citi­




Mercantile Miscellanies.

069

zens who were not British born, and even the sons o f such; and then follow provisions to
prevent the city being defrauded o f such duties by false entries o f aliens’ goods in the name
o f a British subject.
It is worth noticing that the reason o f the modification o f the law above mentioned, as
given in the preamble, is, not that it was oppressive and unjust to alien residents in the
metropolis, but merely because it operated to the injury o f commerce, and because the
collection o f these duties had become disagreeable and troublesome !
Notwithstanding the gross folly and oppressiveness o f this law, which operated not only
to the injury o f citizens not o f British birth, but also to the trade o f the metropolis, the
London corporation held on to their privilege in spite o f remonstrance, until a few years
ago, when, in the reign o f W illiam IV., the predecessor o f Victoria, an act was passed in
Parliament authorizing the Lords o f the Treasury to purchase up the duties in question
from the city. This was done at an expense o f £ \ 40,000, and the duties are now abol­
ished ; so that now an American or his children, a Frenchman or the son o f a French­
man, may be a merchant in London without paying onerous duties for the privilege.
It does not always happen that oppressive and ridiculous legislation is wiped from the
statute-book after it has been seen and admitted to be unwise and wrong. Not a few
laws o f the olden time, designed to protect some particular interest, are standing in full
force in England— though long since forgotten— and might be enforced. Thus, for exam­
ple, the majesty o f British law ordains that “ no person shall use or wear, on any clothes,
garments, or apparel whatsoever, except velvet, any buttons or button-holes made o f or
bound with cloth, serge, drugget, frieze, camblet, & c., on penalty o f forfeiting forty shil­
lings per dozen.” A ll persons are forbid making such buttons, and all tailors are prohib­
ited from setting them on cloths, under a penalty for every offence. Thus reads the un­
repealed law o f England. Little do her own citizens, and still less do ours visiting there,
lay it to heart that they are thus required to patronize and encourage the British manu­
facture o f metal buttons; but if these ignorant offenders were arraigned before an Eng­
lish court, it would be compelled to punish them.
Instances, such as these, o f former legislation might be quoted by the volume. Absurd
and unjust as they appear now, they were once regarded as reasonable and important. It
seemed to the old law-makers and guardians o f the State, that no interest, no branch o f
trade or art, could flourish without special statutes conferring special protection or encour­
agement. Very slowly, indeed, but very surely, society is learning that the best thing the
legislature can do is to let it alone, and permit each interest to work out its own prosperi­
ty, unaided and unchecked, save when it trenches upon the rights o f others. W hen the
law confers aid or privilege upon one branch o f industry, it is usually and almost neces­
sarily at the expense o f some other branch ; and, in the end, both suffer, as in the case o f
London and her alien merchants. Nevertheless, as we have just remarked, the process
o f emancipating from the old-fashioned notions o f restrictions on the one hand, and priv­
ilege on the other, as the right and duty o f the legislature, is a slow affair. Law is so ac­
customed to meddle with business and trade, that it cannot let them alone.— M ercantile
Times.
U S U R Y : OR T H E L A W S R E G U L A T IN G IN T E R E S T .
There are few propositions respecting which mercantile men are more unanimously
agreed than that which affirms the inexpediency and folly o f what are called the usury
la w s ; and the tenacity with which our different legislatures adhere to their interdict o f
the freedom o f trade in this article o f money, is a striking instance o f the propensity o f
our legislators to trammel trade with laws which it must either violate or sink under.
T he argument against the propriety o f legislative interference to regulate the rate o f in­
terest appears to us so conclusive and unanswerable, and has been so repeatedly and clearly
set forth, not by money-lenders so much as by money-borrowers, who may be presumed to
have understood what the interests o f trade demand, that we are amazed that the whole
system o f usury laws has not long since been blotted from the statute-books o f every State
in the Union.
It has been justly urged, that it is plainly in no respect more desirable to limit the rate
o f interest than it would be to limit the rate o f insurance, or the prices o f commodities.
And though it were desirable, it cannot be accomplished. The real effect o f all legisla­
tive enactments having such an object in view, is to increase, not diminish, the rate o f
interest. W hen the rate fixed by law is less than the customary or market rate, lenders
and borrowers are obliged to resort to circuitous devices to evade the law ; and as these
devices are always attended with more or less trouble and risk, the rate o f interest is proportionably enhanced.




670

Mercantile Miscellanies.

Fixed rates o f interest are absurd, because the value o f money is constantly varying,
being subject to the same law that regulates other articles. Everybody who notices the
daily newspaper reports can see for himself that no market is more fluctuating than the
money market. A t one period and in one state o f things money is worth twice as much
as at another time and in another state o f things. Unless the legislature can stay all the
fluctuations o f trade, it is idle to think o f singling out the article o f money, and insisting
that that shall command a uniform price.
Other considerations enter into the contract between the borrower and lender affecting
the just premium for the use o f money. T he rate will o f course depend, in a measure,
upon the security given. In proportion as that is doubtful, should the premium rise. The
lender must be compensated for the risk he incurs, as well as for the use o f his funds, and
it is right and reasonable that he should be.
In short, the laws to which we are objecting are destitute o f all sound basis. They are
unreasonable, impracticable, oppressive to those whom they profess to protect, embarrass,
ing to legitimate trade, and an unwarrantable restriction upon every man’s freedom. For
these and other reasons they ought to be abolished.
M E R C A N T IL E L IB E R A L IT Y .
“ W o u l d s t t h o u b e p o o r , s c a t t e r t o t h e r ic h , a n d r e a p t h e ta r e s o f i n g r a t it u d e :
W o u l d s t t h o u b e r ic h , g i v e u n t o t h e p o o r — t h o u s h a lt h a v e t h in e o w n w it h u s u r y :
F o r th e se c r e t h a n d o f P r o v id e n c e p ro sp e re th th e c h a r ita b le a lw a y s ,
G o o d lu c k , s h a ll h e h a v e in h is p u r s u its , a n d h is h e a r t s h a ll b e g l a d w it h i n h im .”

Col. Maunsel W hite, an old and wealthy merchant o f N ew Orleans, has made a dona­
tion to the new University o f Louisiana, o f fifty-six lots in the third municipality. One
condition o f this donation is, that the said lots shall be leased for a term o f thirty years,
and the rents appropriated to the establishment o f a chair o f commerce and statistics in the
university. A t the expiration o f the thirty years, the leases to be renewed or sold again,
and so on forever— the proceeds always to be applied in the manner above designated.
A further condition o f the gift is, that the chair o f commerce and statistics shall have,
equal position with the other chairs o f the university, and shall share equally with them
in any appropriation by the State for their endowment.
It is also provided that the excess o f the annual income o f <jj>l,200 shall be applied to
the purchase o f a commercial library, to be attached to the professorship, and to the free
use o f which the merchants o f N ew Orleans shall be entitled.
Several other gentlemen o f N ew Orleans have made donations to the new university,
with various conditions attached.
These are instances worthy o f admiration, and worthy, too, of imitation, by those who
possess the means. Boston and N ew Orleans have lately given bright examples, in this
regard, to their sister cities. Let those who have wherewith to give, give during their
own life-times, that they may see the application, and enjoy the fruits o f their munifi­
cence.— Charleston N ews.
M A X IM S A N D M O R A L S F O R M E R C H A N T S .
1. T he world estimates men by their success in life; and, by general consent, success
is evidence o f superiority.
2. Never, under any circumstances, assume a responsibility you can avoid consistently
with your duty to yourself and others.
3. Base all your actions upon a principle o f right; preserve your integrity o f character,
and, in doing this, never reckon the cost.
4. Remember that selt-interest is more likely to warp your judgment than all other
circumstances combined ; therefore, look well to your duty when your interest is concerned.
5. Never make money at the expense o f your reputation.
6. Be neither lavish nor niggardly: o f the two, avoid the latter. A mean man is uni­
versally despised ; but public favor is a stepping-stone to preferment— therefore generous
feelings should be cultivated.
7. Let your expenses be such as to leave a balance in your pocket. Ready money is a
friend in need.
8. Keep clear o f the law ; for, when you gain your case, you are generally a loser of
money.
9. Never relate your misfortunes, and never grieve over what you cannot ptevent.
10. N o man who owes as much as he can pay, has any moral right to endorse for
another.




The Book Trade,

THE
1.

— Lectures on Shakespeare.
Y o rk : Baker & Scribner.

B OOK

671

TRADE.

By H. N. H udson.

2 vote.

12mo., pp. 684.

New

The sixteen lectures embraced between the covers o f these two comely looking volumes,
are the same, we presume, that were delivered in many o f our large cities and towns, in­
cluding N ew Y ork, Boston, Philadelphia, etc., attracting at the time more than an ordi­
nary degree o f attention, being generally listened to by large and gratified audiences ; and,
with few exceptions, lauded by the periodical press, from the penny daily to the more dig­
nified review and magazine. Several o f these we had the pleasure o f hearing delivered,
and we confess that in the main we were deeply interested by the clear, natural, and for­
cible delineations o f several o f Shakespeare’s leading characters. They are evidently
the result, not only o f a long and patient study o f Shakespeare, but o f every elucidator o f
him from the times o f the poet to the present. T he lectures, as Mr. Hudson himself in­
timates, are not so properly on Shakespeare, as on human nature, Shakespeare being the
text. “ For the peculiar excellence o f the poet’s works is their unequalled ability to in­
struct us in the things about us, and to strengthen us for the duties that lie before us. If
they went above or beside the great practical views and interests o f life, it would not be
worth any man’s study, much less to interpret them.” Mr. Hudson is as original in his
views o f Shakespeare, perhaps more so, than many who have preceded him in the same
branch o f study ; and although he not unfrequently reproduces the thoughts o f other minds,
he imparts to them a vigorous freshness o f style that gives to the whole an air o f origi­
nality. Oh the whole, we consider the present work a most valuable addition to the stock
o f our illustrative Shakespearian literature, and most cheerfully acknowledge our obliga­
tions to the author for the pleasure to be derived from the perusal o f his admirable lec­
tures. W e predict for the publication a permanent popularity.
2.

— Eastern L ife, Present and Past.
adelphia : Lea &: Blanchard.

By H arriet M artineau.

8vo., pp. 523.

Phil­

Miss Martineau left her beautiful “ Ambleside,” as she supposed for a few weeks, to
visit some o f her family and friends in Liverpool, but, on her arrival there, being invited
by some friends to accompany them in their proposed travels in the East,, in less than a
month after our traveller and her companions were on their journey. Although the ground
travelled has been often described, and a volume o f eastern travels has become almost an
every day occurrence, every new traveller sees something, or describes something that his
predecessor had passed by unnoticed or unnoted. But few, however, possess the moral and
intellectual training o f a Martineau. Visiting all the points o f interest in Egypt, Pales­
tine, and Syria, she connects her descriptions o f scenery with comprehensive accounts of
the manners and customs o f the people o f those regions; and, as a Christian o f large and
liberal views, speaks o f the various^ developments o f the Christian and Mohammedan faith,
furnishing more clear and philosophical information on this head than any recent writer.
Indeed, scarcely a point o f any interest to the Christian or general reader is left untouch­
ed, and all is o f the most satisfactory character, so far, at least, as the author is concerned.
On the whole, we consider it one o f the most valuable, a3 it is the most fresh, books of
eastern travel that has yet been published. Like Wilkinson, Lane, & c., it will obtain a
standard character in this interesting department o f literature.
3.

— Voices from the P riso n ; a Selection o f Poetry. W ritten within the Cell, Try va­
rious Prisoners. W ith Biographical and Critical Notices. Edited by Charles
Spear. Second Edition, Revised and Enlarged by the Author. 18mo., pp. 302. Boston:
Published by the Author.
The first edition o f this collection o f “ prison ” poetry was published about a year ago.
This second edition may be considered almost a new book, as its dimensions have been
nearly doubled ; besides, it cost the author more labor and research in gathering up the
additions, as they are more rare, and o f course less accessible. T he compiler, Mr. Spear,
although in feeble health, and with very limited pecuniary means, has devoted several
years o f his life to the improvement o f the moral, intellectual, and physical condition of
prisoners, depending mainly upon the sale o f his publications for the means o f support
while fulfilling his philanthropic mission. Those o f our readers who recognize all men,
however degraded their condition, as brethren, will bid our author God speed in his noble
work, and aid him by purchasing one or more copies o f his book. It may be had o f the
author, N o. 40 Comhill, Boston, or o f Fowler and W ells, 131 Nassau-street, N ew York.




672
4.

The Book Trade.

— The Land Owner’ s Manual. Containing a Summary o f Statute Regulations, in
New York, Ohio, Indiana, Illinois, Michigan, Iowa, and Wisconsin, concerning
Land Titles, Deeds, M ortgages, Sales o f Real Estate, Descents, Land Taxes, T ax
Sales, Redemptions, Limitations, Exemptions, Interest o f M oney, and Usury. W ith
an Appendix, containing the Constitution o f the United States. By Benjamin F. Hill,
Counsellor at Law. 8vo., pp. 477. Auburn: J. C. Derby & Co. Buffalo: Derby &
Hewson.

T he utility o f this manual, the design o f which is succinctly set forth in the title-page
quoted, must be apparent to every one who has an acre o f land to sell, or wishes to buy
one in any o f the States o f the American Union. This work, which seems to have been
prepared with great care, and covering, as it does, the whole subject, supplies an indis­
pensable want not only o f the legal profession generally, but o f many business men hav­
ing dealings in the several States which the work covers. The testimonials o f leading
lawyers from most o f the States in the Union who have examined- it, are o f such a char­
acter as to leave no doubt o f its accuracy and reliability.
— The H aunted Barque, and Other Poem s. By E. C urtis H ine. 8vo., pp. 108.
Auburn : J. C. Derby & Co.
Most o f the poems in this volume were, as we learn from the author’s modest preface,
composed at sea, while he was attached to an American frigate, cruising in the Pacific
Ocean, to while away the tedious hours— the monotony and ennui o f a life on board a
ship o f war. T he partiality o f friends, and the author’s own belief that some o f the
pieces possess merit, induced him to lay them before the public. Several o f the poems are
descriptive o f places visited by the voyager, and others were naturally suggested by the
circumstances o f a seaman’s life. T he sentiments are pure, and the versification generally
correct. Indeed, the pieces possess merit, though not o f the highest order.
5.

6.

— Hymns fo r Christian Devotion, especially adapted to the Universalist Denomina­
tion. By J. G. A dams and E. H. C hapin. l8m o., pp. 642. Boston: Abel Tompkins.
Great improvement has been made in these collections o f sacred or devotional poetry,
designed for public worship, within the last ten years. The present collection affords grati­
fying evidence o f this statement. It is quite ample, containing, as it does, more than one
thousand hymns, with few exceptions, as elevated in tone and sentiment as they are beau­
tiful in a poetical point o f view. There is one feature in the collection which must com ­
mend it to all benevolent minds, and that is, the great number o f hymns adapted to the
philanthropic movements o f our day. Although designed for a denomination, the com ­
pilers “ intended that it should answer the demands o f a liberal and progressive Christian­
ity— a Christianity, under whatever name or pretension found, that would diffuse Christ’s
spirit, and do his works o f truth and love among men.”

7. — The Parents ’ Guide fo r the Transmission o f Derived Qualities to Offspring and
Children, made E asy.
Fowler & Wells.

By Mrs. H ester Pendleton.

12mo., pp. 212.

N ew Y ork :

T he subjects treated in this volume are o f the highest moment to the physical and moral
well-being o f the human race, and worthy the njost careful study and investigation. The
theory which Mrs. P. endeavors to establish, is understood and applied in the improve­
ment o f domestic animals, as the horse, hog, sheep, etc., and it would seem that the an­
alogy o f improving our own kind, in accordance with the theory, was as capable o f de­
monstration as any problem in Euclid. T he present work, we are told, and it bears in­
ternal evidence o f truthfulness, is the result o f long and mature reflection, and “ a well
grounded induction from history, from observation, and from experience.” W e earnestly
commend its perusal to parents, and, indeed, all who desire to become the progenitors o f
a noble race.
— la c k Tier, or the Florida R eef. By J. F enimore Cooper, author o f “ the Pilot,”
“ Red Rover,” “ T w o Admirals,” “ W in g and W in g,” etc. etc. In 2 vols., 460 pages.
N ew Y o rk : Burgess & Stringer. 1848.
W e have carefully perused this work o f Mr. Cooper’s, yet not with the delight that
many o f his former works inspire. There is nothing, in our search through his pages,
that will reward us for our trouble; no jewel amidst the unsavoury rubbish. Had it not
been for its extensive publicity, we would have pronounced it a direct counterfeit; not
thinking such a work could issue from Mr. Cooper’s pen. Every novel, that has a genu­
ine excellence, must contain matter that exalts the feelings and heightens the sympathies ;
it must distill from its pages the purest sentiments, which, like the honeyed dew, will
sweeten and animate the diversified particles o f our nature. Mr. Cooper’s last novel has
none o f these qualities.
8.




The Book Trade.
9.

673

— The True Organization o f the N ew Church, as indicated in the W ritings o f
Emanuel Swedenborg, and Demonstrated by Charles Fourier. l2m o., pp. 454. New
Y o rk : William Radde.

T he design o f this work is, to show that the doctrines o f Fourier and Swedenborg har­
monize— that their union constitutes the union o f science and religion. “ I have tried,”
says the author, “ in explaining Fourier’s doctrine, to place it upon the highest ground;
and o f Swedenborg, I have shown that the doctrine o f Fourier is an application to life o f
Swedenborg’s theories.” He further attempts to show “ that Fourier’s doctrine is not a
mere doctrine o f expediency, but a law o f G o d a n d that its realization upon this earth is
especially entrusted to the members o f the N ew Church, (Swedenborg.) “ They are,
more than others, prepared to view Association in its divine light; for Association is the
handmaid o f faith.” This brief summary, drawn from Dr. Hempell’s introduction, will
give the reader some idea o f the nature o f the present treatise. The most superficial ob­
server cannot avoid noting the striking points o f resemblance in the theories o f the two
remarkable men here referred t o ; and we have no hesitation in recommending this work
to the notice o f every inquirer after truth. This we do without necessarily accepting all the
propositions, or adopting the conclusions arrived at by the chain o f reasoning so satisfac­
tory to the author’s mind. It is a fact that cannot be.disguised, that a great change is g o ­
ing on in the minds o f earnest men touching many social questions, which have not as yet
been satisfactorily answered. God speed every effort to advance the well-being, or elevate
the condition o f man on earth.
10.— Poems. By James R ussell Lowell. Second Series. Cambridge: George N i­
chols. 1848.
W e know not why this volume should be called the second series o f Mr. LowelPs
poems, as it is the third or fourth volume that he ha3 published. However, it matters not
by what title the poems may be ushered into the world, we hail them with gratitude as
being the true utterance o f the poetic spirit o f our age and country. A ll poetry, in all
ages, is but the brightest truth, and by this standard alone should all poetry be tested. The
art o f poetry is but the faculty o f conveying the best thoughts in the best form which they
can be made to w ear; according to this view o f the office o f poetry, Mr. Lowell must be
regarded as the greatest poet that America has yet produced. Leaving out o f sight all
hi3 other productions, his Prometheus, and Cromwell, and the “ Year’s Life,” the volume
before us contains enough o f the brightest order o f verse to warrant our opinion o f this
beautiful writer. W e have not space for selections, but if we had, we would select, for
the profit o f our readers, “ The Growth o f the Legend,” to a “ Pine T ree,” the “ Lines
on the Death o f a Friend’s Child,” the “ Changeling,” and “ Columbus.” In truth, there is
not one poem in the volume that we should feel disposed to om it; but those that we have
named are so elevated in thought, so pure in feeling, and so masterly in their construction,
that they would hardly fail to compel assent to our opinions o f the author from all who
should read them. T he “ Morning Glory,” a very sweet and touching poem, is worthy o f
the other poems in the volume ; but we learn from a note to the index that it is not from
Mr. Lowell’s pen. It is probably from the hand o f the M . W . to whom many o f his
poems are addressed, who is now, we learn, his wife. It reveals a melancholy event which
smote heavily upon the hearts o f the poet and the writer o f the lines.

11. — A Discourse on the L ife , Character•, and Public Services o f James Kent, late Chan­
cellor o f the State o f N ew York. By John D uer. 8vo.
T he present discourse was delivered, by request, before the Judiciary and Bar o f the
city and State o f N ew Y ork on the 12th o f April, 1848. It bears the impress o f the ac­
complished scholar, and the learned and able jurist N o one, perhaps, better understood
or more highly appreciated the venerated Chancellor. That Mr. Duer has done full justice
to his character as a jurist and a man, all who knew him will doubtless bear testimony.
12.

— Romance o f the H istory o f Louisiana. A Series o f Lectures. By Charles G ay .
Utile Dulci. 12mo., pp. 265. N ew Y o rk : D. Appleton & Co.

arre

T he history o f Louisiana is replete with romantic interest, and in these lectures Gayarre aims to do for Louisiana, “ on a small scale, what has been done for Scotland,” en­
circling her waist with the magic zone o f romance, and “ giving her those letters-patent
o f nobilify, which are recorded forever in the temple o f fame.” The lectures are written
in a graceful and elegant style, every page and paragraph bearing the impress o f the
classic, finished scholar. Mr. Gayarre exhibits qualities for the. historian, scarcely inferior
to a Prescott or a Bancroft; and, as a lecturer on history, we should say that he surpasses
either.
V O L . X V I I I . -----NO. V I.




42

674

The Book Trade.

13. — The W ritin gs o f George Washington. Vol. X I. 8 vo., pp. 578. N ew Y o rk :
Harper & Brothers.
One volume more will complete the re-issue o f this new , beautiful, and cheap edition
o f the Life and Writings o f Washington. The present volume contains correspondence,
official and private, from the beginning o f his presidency to the end o f his life. T he life,
character, and writings o f Washington derive a new interest from the momentous politi­
cal events daily transpiring in the old world ; and his noble example o f pure, disinterested
patriotism is exerting an influence on the destiny o f nations, that must advance philanthro­
pic republicanism throughout the world.
14. — The W ritin gs o f George Washington, being his Correspondence, Addresses, M es­
sages, and other P apers, Official and Private. Selected and Published from the
Original M anuscripts; with a L ife o f the Author, N otes, and Illustrations. By
Jared Sparks. Volume X II. 8 vo., pp. 592. N ew Y o rk : Harper & Brothers.
This great American work, that is, the new, beautiful, and cheap edition o f the Bro­
thers Harper, is at length brought to a close by the publication o f the twelfth volume, which
embraces the fifth part, and comprises all the speeches and messages, proclamations and
addresses o f Washington, extending over the whole period o f his administration. The
twelve volumes cover about 8,000 pages, and are afforded for $ 1 50 per volume, or $18
for the complete work, which originally cost more than double that sum. It is a work,
as we have often said, that should be in the possession o f every public library, and, at the
present price, in every private library that can afford it.
15. — H istory o f the G irondists; or, Personal Memoirs o f the Patriots o f the French
Revolution. From Unpublished Sources. By A lphonso de L amartine, author o f
“ Travels in the Holy Land,” etc. Vol. III., pp. 538. N ew Y ork : Harper & Brothers.
The third volume o f this remarkable work closes the history o f the Girondists. In it­
self deeply interesting, it derives additional interest from the third revolution o f France,
and the permanent position its author holds in the Provisional Government, created by
the memorable events o f February last. Appended to the present volume the reader will
find a comprehensive, well-written memoir o f the author, bringing his life down to the
present time. A s we have referred to the previous volumes o f the work as they appeared,
the mere announcement o f its completion at this time may be considered as sufficient to
answer all the purposes o f a more extended notice.
16.— The Roy's Spring Book, descriptive o f the Season, Scenery, Rural L ife , and Coun­
try Amusements. By T homas M iller, author o f “ Beauties o f the Country,” “ Rural
Sketches,” etc. W ith thirty-five Illustrations. N ew Y o rk : Harper & Brothers.
T he “ Summer,” “ Autumn,” and “ W inter,” o f Mr. Miller, which preceded this fourth
o f the series, have been well received and universally admired ; and we scarcely need add,
that the present is equally interesting. It is a delightful book, replete with the gentle and
varied teachings o f nature in all her beneficent and beautiful forms. T he four “ Seasons,”
as illustrated in the four beautiful volumes, should be found in every family library.
17 .

— L aw s and P ractice o f all Nations and Governments relating to P atents fo r In ­
ventions; with Tables o f F ees and Forms, etc. Compiled and Edited by John L.
K ingsley, C. E., and Joseph P. P irsson, C. E., Patent Agents, Editors, and Publishers
o f the “ Eureka, or the National Journal o f Inventions, Patents, and Science.” 8 vo.,
pp. 200. N ew Y o rk : Kingsley & Pirsson.
T he publication o f a manual like the present supplies a desideratum o f no small import­
ance to inventors, and one that cannot fail o f being duly appreciated among a people re­
markable for their inventive cleverness. It embraces the statistics, or laws of all nations
on the subject, together with the practice and' fees. T he compilers, Messrs. Kingsley &
Pirsson, thoroughly understand the whole subject, having been for some time engaged as
agents in procuring patents, as well as in disposing o f them at home and abroad, in such
a way Mas to secure to the inventor an adequate reward for his inventions, if useful.” The
introduction o f the editors gives a clear explanation o f the practice and proceedings used
in procuring patents throughout the world. It is, we believe, the only complete and reli­
able work on the subject extant.
18 .

— The Rural Cemeteries o f America. N ew Y o rk : R. Martin.
T he fourteenth part o f this beautifully illustrated work is before us. It is the seventh
o f the Mount Auburn series, and embraces a number o f tasty designs for monumental en­
closures. The letter-press descriptive illustrations are by Miss Cornelia W . Walter, the
late sprightly editress o f the Boston Transcript. The highly finished line engravings on
steel are all drawings taken on the spot by James Smillie, Esq.




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675

19. — A new and complete French and English Dictionary on the basis o f the Doyal D ic­
tionary, English and French and French and English ; compiled from the Dictionaries
o f Johnson, Todd, A sh, W ebster, and Crabbe, from the last edition o f Chambaud,
Garner, and J. Descarrieres, the sixth edition o f the Academ y, the Supplement to the
Academy, the Grammatical Dictionary o f Laveaux, the Universal le x ic o n o f Boiste,
and the standard technical works in either L anguage, etc., etc. By Professor F lem­
ing, formerly Professor o f English in the College o f Louis Le Grand, and Professor T ibbins, Professor and author o f several Lexicographic works, etc. 8 vo., pp. 1376. Phil­
adelphia : E. H. Butler & Co.
The present Dictionary is based on the new Royal Dictionary o f Professors Fleming and
Tibbins, which is allowed, by the best authorities, to be the most copious and comprehen­
sive that has appeared. The additions made by Mr. Dobson, the American editor, are of
great value, embracing, as they do, a great number o f terms in the natural sciences, chem­
istry, medicine, commerce, etc., not found in any other French and English dictionary that
has fallen under our observation. The tables o f the verbs by Mr. Picot, are well calcula­
ted to facilitate the study o f this difficult part o f the French language. In these tables, it
will be seen, the verbs are numbered, and so organized as to show, at a glance, the forma­
tion o f the various tenses— simple and compound ; the irregularities, and the modes o f
conjugation— affirmatively, negatively, and interrogatively. T o the different verbs, as they
occur in the body o f the dictionary, a number is affixed, referring to the tables; and as their
pronunciation is distinctly indicated, the verb may be considered a complete and ready
means o f ascertaining the modes o f conjugation, and the pronunciation o f the verbs o f the
French language in all their forms— a desideratum, we believe, not to be found in any
other publication o f the same nature. Mercantile men will find this dictionary very use­
ful, as it furnishes the most satisfactory explanation o f all words used in commerce. This,
to us, is a feature o f great value, and one which we could not well dispense with.
20. — A Discourse delivered in Quincy, March 11, 1848, at the Interment o f John Quin­
cy Adams, Sixth President o f the United States. By W illtam P. L unt, Minister of
the First Congregational Church in Quincy. 8 v o .,p p . 60. Boston: Charles C. Little
and James Brown.
W e have read several discourses from different pulpits and pens, but none more appro­
priate and beautiful than this o f Mr. Lunt’s. Scholarly and chaste in style, it presents a
truthful delineation o f the life and character o f the departed patriot, statesman, and Chris­
tian. The closing apostrophe, addressed to the Congressional Committee who accompanied
the remains of Mr. Adams to Quincy, is at once pertinent, eloquent, and beautiful. W e
can scarcely conceive o f any thing more happily conceived or aptly expressed.
21. — Dealings with the Firm o f Dombcy
Sony Wholesale, Detail, and fo r E xporta­
tion.
By C harles D ickens. With Illustrations on W ood, by J. W . Orr. l 8 mo.,
pp. 499 and 467. N ew Y ork : John W iley.
Since our last issue, this popular work of “ Boz ” has been brought to a close; and the
several American editions have been published in a connected form. T he opinion of its
numerous readers in this country seems to be nearly if not quite unanimous as to its merits;
and we are only repeating the public sentiment, in saying that, as a whole, it surpasses in
power and interest any former work o f its inimitable author. The American edition o f
Mr. W iley is unquestionably the best and handsomest American reprint in every particular.
T he illustrations in the fine edition are correct copies o f the original, and the paper and
type are refreshing to weak eyes. Mr. W iley’s editions vary in price from 75 cents to
$12 00. Although the demand has been unprecedentedly great during the progress o f the
work, it is still greater since its completion. Those who would possess a beautiful library
copy, with all the illustrations, should purchase the present.
22. — H istory o f England, from the Invasion o f Julius Caesar to the Deign o f Victoria.
By Mrs. M arkham. A new edition, revised and enlarged. W ith questions, adapted
to schools in the United States, by E liza R obbins, author o f “ American Popular Les­
sons,” etc., etc. l2m o., pp. 387. N ew Y o rk : D. Appleton & Co.
Mrs. Elizabeth Penrose (not Mrs. Markham) wrote this history o f England for the in­
struction o f her own children, and it has been, and still is, used extensively in England ;
indeed,.we are informed by a reliable source that it has already reached a sale o f 53,000
copies. T he conversational form in which it w'as originally written has been changed, so
that it is rendered convenient as a school history. It was used by that model o f all teach­
ers, the late Dr. Arnold, master o f the great English school at Rugby, and agrees, in its
character, with his enlightened views o f teaching history, suggesting, as it does, its moral
uses, and the Providence o f God, as manifest in the affairs o f men.




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23. — The W orks o f the E ight Eeverend George Horne, D. /)., late Lord Bishop o f Norwick. To which is prefixed, Memoirs o f his L ife, Studies, and Writings. By W il­
liam Jones, M. A., F. R. S., one o f his Lordship’s Chaplains, and long his most inti­
mate and confidential friend. 2 vols. 8vo., pp. 465 and 573. N ew York: Stanford
& Swords.
Bishop Horne has ever held a high rank among the divines o f the eighteenth century.
This is, we believe, the first American edition o f his complete works. The first volume
opens with an interesting memoir o f the author’s life, which is followed by his cautions to
the readers o f Mr. Law ; letter to a lady on Jacob Behman’s writings; essays and thoughts
on various subjects; letter on the use o f the Hebrew language ; and his celebrated com ­
mentary on the Psalms. The second volume contains seventy-five discourses on moral
and religious subjects; three discourses not included in any other edition o f Bishop Horne’s
w orks; state o f the case between Sir Isaac Newton and Mr. Hutchinson ; considerations
on the life and death o f St. John the Baptist; letters on infidelity; and several other pa­
pers. “ In his sermons,” says his biographer, “ his sense is strong, his language sweet and
clear, his devotion warm, but never inflated nor affected ; and from the editions through
which they pass, it is plain the world does see, and will probably see better every day,
that they are not the discourses o f a varnisher o f visions.” In the commentary on the
Psalms, he has followed the plan o f the writers o f the N ew Testament, and o f the primi­
tive church, in applying, them as prophecies, and delineations o f the person o f Christ and
o f the Christian economy. T he works o f but few o f the old divines o f England would be
more acceptable to a large class o f Christian students; and we presume the publishers
will be amply remunerated for the capital invested in the enterprise.
24. — The Prose W orks o f John M ilto n : with a Biographical Introduction. By the
Rev. R ufus W ilmot Griswold. 2 vols. 8 vo., pp. 548 and 550. Philadelphia: John
W . Moore. N ew Y o rk : W iley & Putnam.
This is a very handsome library edition o f the complete prose works o f Milton, with the
exception o f his recently discovered Treatise on Christian Doctrine, a work which Mr.
Griswold says “ he would never have given to the press himself, which is, on every ac­
count, less worthy o f praise than any o f his productions.” This, we suppose, is an as­
sumption on the part o f Mr. Griswold, natural enough for a theologian o f a different
school. The present edition o f Milton’s works embraces his political writings, essays on
church discipline, the celebrated treatise on the doctrine o f divorce— indeed, everything o f
value in his prose writings.
25. — Collections o f the American Statistical Society. Containing Statistics o f Taxa­
tion in Massachusetts. Prepared by Joseph B. Felt. B oston: Printed for the Asso­
ciation.
T he present is the third publication that has emanated from the American Statistical
Society. Nearly six hundred pages are devoted entirely to the statistics o f taxation in
Massachusetts, including valuation and population ; subjects o f no little importance to
statesmen and political economists. It was published in 1847; but we have delayed no­
ticing it before in the hope o f finding time to adopt it as the basis for an elaborate article
on the subject o f which it treats; and we still hope to do so, unless some member of the
association, and we know there are many competent to the task, should feel inclined to
furnish a review worthy o f the subject. Mr. Felt, the author and compiler, is one o f the
most indefatigable, industrious, and able staticians in the country, as the present and pre­
vious works prepared by him conclusively show.
26.— The French Revolution o f 1848 .* Its Causes, Actors, Events, and Influences. By
G. G. F oster and T homas D unn E nglish.
T he present work, say the authors, is offered to the public rather as a timely exposition
o f the openings o f a new era in history, than as a highly polished work o f art. Their
aim appears to have been “ to deal in ideas and movements rather than in phrases and
cadences.” T he work is, however, all that could be expected in so brief a space between
the occurrence o f the events recorded, and the time o f its publication. It is written in an
easy style, and there is a freshness about it that renders it quite readable.
27. — W urthering Heights. A Novel.
New York : Harper &. Brothers.

By the author o f “ Jane Eyre.”

12mo., pp. 288.

Those who have read “ Jane Eyre” need only be informed that the present work is
from the same fanciful pen. It is not a whit behind that production either in the interest
o f the narrative, or the power with which its characters are drawn. It cannot fail o f ob­
taining an enduring popularity with novel readers.




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28. — The Univercwlum and Spiritual Philosopher.

New York: S. B. Brittan, 235

Broadway.
This journal, which we should have noticed before, has now reached its twenty-fifth
weekly issue. W e cannot, perhaps, give a better idea o f its design and character, than
by quoting from the editor’s prospectus, as follows:—
“ This weekly journal differs in character, in some important respects, from any periodical published in
the United States, or even in the world. An interior or spiritual philosophy, comprehensively explaining
the character and operations o f natural laws, accounting for their exterior phenomena and results, and
showing the tendency o f all things to higher spheres o f existence, is the basis on which it rests. It is a
bold inquirer into all truths pertaining to the relations o f mankind to each other, to the external world, and
to the D eity; a fearless advocate o f the theology o f nature, irrespective o f the sectarian dogmas o f men ;
and its editors design that it shall, in a charitable and philosophic, yet firm and unflinching spirit, expose
and denounce wrong and oppression wherever found, and inculcnte a thorough reform and reorganization
o f society on the basis o f N a t u r a l L a w . In its p h i l o s o p h i c a l departments, among many other themes
which are treated, particular attention will be bestowed upon the general subject o f p s y c h o l o g y , or the
science o f the human soul; and interesting phenomena that may come under the hends o f dreaming, som­
nambulism, trances, prophecy, clairvoyunce, & c., will, from time to time, be detailed, and their relations
and bearings exhibited. In the e d i t o r i a l d e p a r t m e n t , a wide range o f subjects will be discussed, the
establishment o f a universal System o f Truth, tending to the reform and reorganization o f society, being
the grand object contemplated.”

Thus far the Univerccelum has been all that is promised above ; and, we may add, with­
out endorsing all its philosophical or religious views, that it is conducted with singular
ability, and in a spirit o f liberality and candor that we should be glad to see imitated by
the religious journals generally.
29.

— Songs fo r the People.

Issued Monthly.

Philadelphia: G. B. Zieber & Co.

W e noticed, in our last number, the first two numbers o f this serial in terms o f high
commendation ; and an examination o f two additional numbers (for March and April)
fully warrants all we said in regard to the taste and judgment displayed in regard to its
typographical and pictorial elegance, as well as its literary and artistic merits. The songs
and music are selected with rare taste, and, indeed, the entire plan is of a character to
ensure a wide and deserved popularity.
30.

— The L ife and Adventures o f Charles Chesterfield, the Youth o f Genius.

By Mrs.

T rollope, author o f the “ Attractive Man,” “ The Abbess,” “ Romance o f Vienna.”
W ith Illustrations.
Stringer.

Complete in one volume.

8 vo., pp. 204.

New York : Burgess &

W e do not, o f course, find time to read all the cheap and popular literature o f the day,
but we have no doubt that this last o f Mrs. Trollope’s will favorably compare with the
preceding works from the same pen. The illustrations are capital.
31. — Major Jones's Sketches o f T ravel; comprising Scenes, Incidents, and Adventures
in his Tour from Georgia to Canada. W ith eight Original Engravings from designs
by Barley. Engraved by Gilbert and Gihon. 12mo. Philadelphia : Carey & Hart
This volume, which forms one o f the series o f Carey & Hart’s Library o f Humorous
American Works, is full, almost to repletion, with a sort o f unsophisticated humor and
drollery. There is, too, a genuine naturalness in the humor that speaks to the heart, and,
while our risibles are gently moved, our kind sympathies are expanded.
32. — The Wanderings and Fortunes o f some German Emigrants. By Frederick G erstaecker. Translated by David Black. 12mo., pp. 270. N ew Y ork : D. Appleton
& Co.
This is a very clever narrative or tale, designed to illustrate the peculiar features o f the
emigrant’s life in the great West. T he actual scenes in the life o f an emigrant from the
old to the new world, without any embellishment, are often stranger and more romantic
than high-wrought fiction. W e presume the present work is a blending o f fact and fancy;
and it is certainly an amusing work, combining the humorous and the pathetic in welldefined proportions.
33. — Endymion. A Tale o f Greece. By H enry B. H irst, author o f “ Penance o f Po­
land,” “ The Funeral o f Time,” and other Poems. Boston: William D . Ticknor & Co.
T he first canto o f this poem was originally published in the “ Southern Literary M es­
senger.” Mr. Willis, while connected with the Mirror, reviewed it in terms o f high com ­
mendation. The beautiful poem o f Keats on the same subject had, we are told, never
fallen into the hands o f Mr. Hirst, and, after the completion o f the first canto, the author
avoided the perusal o f the poem o f Keats until the completion o f his own. The three ad­
ditional cantos, which complete it, are equal to the first; and, as a whole, it may be re­
garded as a poem o f considerable power and beauty.




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The Book Trade.

34.— A Practical System o f Book-keeping by Single Entry. By L evi S. F ulton and
Geo. W . E astman. 12mo., pp. 222. New Y o r k : A . S. Barnes & Co.
This is really a very practical, simple, and comprehensive system of book-keeping by
single entry, and better adapted to the wants o f the farmer, mechanic, and country mer­
chant, than any manual o f the kind that has heretofore fallen under our observation. It
embraces three different forms o f books, designed respectively for the farmer, mechanic,
and merchant; in addition, we find a variety o f useful forms for practical use, simple but
legal, o f notes, bills, drafts, receipts, mortgages, bonds, etc. There is also a valuable com ­
pendium o f rules o f evidence, applicable to books o f account, and of law in reference to
the collection o f promissory notes.
35.— Uncle Sam’s M oney-Box. By Mrs. S. C. H all, author o f “ Stories o f the Irish
Peasantry.” Boston: Gould, Kendall, & Lincoln.
This forms one o f Chambers’ admirable Library for Young People. A more attractive
series o f books for the young has not, that we are aware, been published, in which
amusement and instruction are blended in a chaste and simple dress, without the too fre­
quent accompaniment o f puerility.
36.— Jacopo, and other Tales.

Boston: Gould, Kendall, & Lincoln.

This, another o f the same series, contains four tales, v iz : “ Jacopo,” “ The Cornelia,”
“ The Little Errand Boy,” and “ Garry Owen.” T he last-named story was furnished for
the series by Miss Edgeworth, whose name alone will secure for it many readers, and as
many admirers.
37. — Hobart’s Analysis o f Bishop Butler’s Analogy o f Religion, Natural and R e
to the Constitution and Course o f Nature. W ith Notes. Also, Crawford
tions fo r Examination. Revised, and adapted to the Use o f Schools. By C
W est, Principal o f Rutger’s Institute, in the city o f N ew York. 18mqj
N ew Y ork : Harper & Brothers.
This little volume is designed to present a concise, and, at the same time, <
sive analysis o f Butler’s great, but abstruse work on natural and revealed religidl
be useful to a large class o f persons, who would be prevented from reading
work from its abstruseness.
38.

— Webster’s Quarto Dictionary.

Springfield: G. & C. Merriam.

W e briefly noticed the new and improved edition o f this incomparable dictionary ortKe^
English language in our last. W e now subjoin a notice from the London Literary Ga­
zette :—
“ The original edition o f the American dictionary is too well known and appreciated in England to re­
quire us to dwell at length on its plan and execution. In the present edition, Professor Goodrich has been
ably assisted by several eminent men, each distinguished in his own sphere o f inquiry; and the result is in
the highest degree satisfactory. The work is a noble monument o f erudition, and indefatigable research;
and the style and accuracy o f its typography would do honor to the press o f any country in Europe. This
volume must find its way into all our public and good private libraries, for it provides the English student
with a mass o f the most valuable information, which he would in vain seek for elsewhere.”

39.— The Italian Sketch Book. By H. T . T uckerman, author o f “ Thoughts on the
Poets,” “ Artist Life,” etc. 2 vols. l2m o., pp. 224. N ew Y o r k : J. C. Riker.
T he fact that this work has reached a third edition, is highly creditable to the growth of
our Republic, now sufficiently advanced to appreciate a pure and beautiful literature. Mr.
Tuckerman stands at the head o f a class o f writers that have heretofore been more ad­
mired among nations more highly cultivated in literature and the fine arts than our own.
Few writers combine more completely a chaste and elegant style, with pure and vigorous
thought. The present edition has been revised and greatly enlarged by the author, and
is, moreover, handsomely printed.
The long promised “ Memoir o f W illiam Ellery Channing, with extracts from his Cor­
respondence and Manuscripts,” by the Rev. W illiam H enry C iianning, has just been
published by Crosby &, Nichols, o f Boston. W e regret that it was received too late for a
more particular notice in the present number. W e shall notice it as elaborately as our
limits permit in the July number o f this Magazine.
T he A rt -U nion J ournal for April is a capital number. T he engravings on steel, the
“ Pool o f the Thames,” “ the Prince o f W ales,” and “ the Coral Finders,” are each worthy
o f the advanced state o f the art in Great Britain. Nothing, we imagine, has yet surpassed
the engravings on wood, not only in this, but former numbers o f the same work. This
journal is sold by the American agent, J. P. R idner, at $ 6 per annum.