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T I1 E

MERCHANTS’ MAGAZINE,
E sta b lish ed J u ly , 1 83 9 ,

BY FREEMAN HUNT, EDITOR AND PROPRIETOR.
V O L U M E X V III.

M ARCH,

1848.

N U M B E R III.

C O N T E N T S OF NO. III., VOL. XVIII.
ARTICLES.
ART.

PAG*

I. D EBTS AN D FIN AN CE S OF TH E S T A T E S OF T H E U N IO N : W IT H REFE RE N C E
T O TH E IR G E N E R A L CONDITION AND PUOSPERI VY.— C h a p t e r I H . - T h e M id ­
d l e S t a t k -4— N kvv Y o r k .— F unices o f the State o f New York — Great Financial Operations
o f New York—Classification o f the Treasury Accounts—Origin o f the General Fund— Resour­
ces in Lands—Anpropriati *ns for School Fund— Progress o f the Fund —Its Results—Magnitude
o f the General Fund in 1814—Transfer o f its Resources to the Sch »ol Fund—Commencement
o f the Canal Pol c v—Canal Fund constituted—Its successful operatiou—Succe>s ot the Erie
Canal—Change in ihe Canal Policy—Construction o f the Lateral Canals—Tabular view o f
Canals: Length, lockage, cost reveuue. & c.— Policy o f the Enlargement o f the Erie Canal—
Its rapid progress—Loa s o f State Credit to Companies—T he Results— Policy o f 184*2—Tabu­
lar Statement o f ull the Stocks issued by the State—Rates o f Intejest, &.C.— Aggregate State
Debt, and process o f its Redempti m— How New York Stocks were held—Table o f Tolls on
the Canals from their or gin to 1847— Financial Policy o f the Constitution o f 1845—Transfer
Offices o f the several St *cks —Prices o f Stocks from 1841 to 1843, &.c. By T h o m a s Prbntice
K i c t t e l l . Esq., o f New York................................................................................................................. 5243
II. PROGRESS. By Hon. F. O. J. S m it h , o f M aine................................................................................ 256
H I. T H E S E A T OF G O V E R N M E N T OF TH E U N ITED S T A T E S .— C h a p t e r III.— Embar­
rassments and Remedies—Washington’s Letter to the Government o f Maryland, asking fo r a
Loan—His Death— ( 'ccupati >n o f •-ity by Government and Congress, and Addresses on the o c/
casion—Causes which returded the Growth o f the City—Failure o f Congress to comply with
prom ses, and misapplication o f Funds received from Lots— Lottery D dit—Chesapeake and Ohio
Canal— Expendituies by the City on Improvements— Value o f Private and Public Property—
Should the Nation pay Taxes ? —Imp.d cy o f a City Charter—Commissioner o f Public Build­
ings By J. B. V a r n u m , Esq , o f the New York Bar........................................................................ 270
IV. C O M M ER CIAL C ITIE S OF E U R O P E — N u m b e r II.— M a r s e i l l e s .— Location o f Marse-lles
— Its Antiquity—Commercial Prosperity—Early History— Shipping entering the Port, compared
with other French Ports—The Harbor— Ports o f Ratounenu and Pomegue— Imports o f Marseilles
— Exports—Commerce o f Transit—Coasting Trade—Trade with the United States— Fisheries
— Manufactures— Public Institutions— Chamber o f Ci mmerce— Health Establishment, & c ----- 5279
V . LE A D REGION AN D L E A D T R A D E OF TH E UPPER MISSISSIPPI. By E. B. W a s h b u r n k , Esq., o f Illinois.............................................................................................................................. 285

MERCANTI LE LAW CASES.
Guarantee— Promise to pny the Debt o f another.............................................................................................. 293
Approved Endorsed Notes..................................................................................................................................... 294
Action to Recover the Amount o f Drafts—Statute o f Limitation...................................................... 29*
Libel in Admiralty— Bill o f Sa e as Collateral Securit................................................................................... 295
Construction o f an Agreement to allow a Clerk commission on Profits........................................................ 5296
An agreement by an Attorney to claim nothi >g for professional services if unsuccessful, is illegal........ 296

COMMERCIAL CHRONICLE

AND R E V I E W ,

EMBRACING A FINANCIAL AND COMMERCIA L REVIEW OF THE UNITED STATES, E T C ., ILLUSTRATED
WITH T A B L E S, ETC., AS FOLLOWS :

The Money Market— Large increase o f Imports into the Port o f New York for six weeks o f four years
past— Exports from port o f New York during the mouths o f Itecember and January last—Finances « f
London—The Cotton Trade o f England— British Revenue in January. 1847-8— Returning ease in
the London Market— List o f Failures in Europe from 1st to 30 h o f January. 1848— Financial con­
dition o f the United Stutes— Revenue o f same for last six mouths o f 1847— Debt o f United States
1817— Loan o f $16,000,0JO authorized, & c., See................................................................................... 297-302
V O L . X V I I I . ----- N O . I I I .




16

242

CONTENTS OK NO. I I I ., VOL. X VIII.

COMMERCIAL STATISTICS.
Importations o f Sperm and W hale Oil and Whalebone into the United States in 1847........................... 302
Tonnage o f Vessels from different Ports employed in the W hale Fishery January 1, 1848..................... 303
Exports o f W hale Oil from the Port o f Mew Bedford to foreign Ports from 1841 to 1847....................... 303
Price o f W hale Oil and Bone for the last seven years..................................................................................... 3U3
Commerce, Kevenue, and Population o f the United States in euch year from 1700 to 1847, inclusive.. 304
Export o f Breadstuff's from the United States in 1847....................................................................................... 305
Rochester Flour Trade in 1847, as compared with previous yeurs................................................................. 306
Export o f Cotton and other produce from the United States from 1790 to 1807......................................... 307
Philadelphia Quercitron Bark Inspections from 1832 to 1847 ......................................................................... 307
Production o f Corn in Russia............................................................................................................................... 308
Shipping built at Baltimore in 1847.................................................................................................................... 309
Ship-building at the Port o f Mew York in 1847 ................................................................................................ 310
Loudon Prices o f Virginia and Kentucky Tobacco from 1839 to 1847......................................................... 310
Import o f Cotton into Great Britain from 1845 to 1847.................................................................................. 311
Iron Trade o f Philadelphia with the Interior in 1840 and 1847 ..................................................................... 311
Cash Price o f Pig Iron at Glasgow from 1845 to 1847.— Hamburgh Imports and Stocks o f Sugar........ 313
Exports and Tonange o f Matanzas for 1847.— Commerce o f the Port o f Mew Orleuns in 1847 .............. 313
Liverpool Imports o f American Produce from 1844 to 1847 ........................................................................... 314
Prices o f Produce at Liverpool from 1843 to 1848.— Foreign Commerce o f Baltimore in 1847............... 314
Philadelphia Imports and Exports o f Sugar in. 1846 and 1847........................................................................ 315
W ines, Spirits, Molasses, & c., Imported into Philadelphia from 1844 to 1847............................................. 315

COMMERCIAL REGULATIONS.
Commercial Regulations o f the Hawaiian Ports.............................................................................................. 316
Regulations for Ships bound to Sweden from Ports on this side o f Cape Finisterre................................. 317
Philadelphia Board o f Trade.— Mew Customs Union in Italy........................................................................ 317

NAUTICAL INTELLIGENCE.
Light-houses at Faron and Ystad.— L'ghts for Steamers.. ...........................................................................
Caution to Shipping passing South Foreland and Sandgate...........................................................................
Lights on Trevose Head.— Wreck in T orbay................................ . ..................................................................
Discovery o f a new Bland.— Beacon Light on Tampico Bar.........................................................................
Stanley, Valkland Islands.— Buoy o f the Heaps in the Swin Channel.........................................................

JOURNAL

319
318
319
319
319

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

Method o f manufacturing Bichromate o f Potash and Lime, and Chromate o f Lead...............................
Method o f extracting Iodine from dilute Solutions...........................................................................................
Production o f Silver in Spain................................................................................................................................
Slavery vs. Manufactures.......................................................................................................................................
Improvement in Railroad Iron manufacture......................................................................................................
Mew method o f treating Platinum Ores..............................................................................................................
Exportation o f Metals from London and Liverpool to all India from 1840 to 1847....................................
Bohemia Glass manufacture.— Beet root Sugar in Germany..........................................................................
Chase’s Card Spinner for Manufacturers.— Roasting Coffee...........................................................................

320
320
321
322
323
324
324
325
325

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 .
Bank Capital o f Cities and Towns in the United States which possess $l,(i00.000 Bank Capital..........
Condition o f the Insurance Companies in Boston with Specific Capitals December 1, 1847 ....................
Abstract o f the Condition o f the Banks o f Pennsylvania January 19, 1848...............................................
Export, Import, and Coinage o f Specie o f the United States from 1821 to 1847.........................................
Condition o f the Bonk o f France for the three months ending December, 1847 ..........................................
Increased production in the Quantity o f G old..................................................................................................
Revenue o f Great Britain in the years ending 5th January, 1847 and 1848 .................................................

RAI LROAD, CANAL, AND S T E A M B O A T

STATISTICS.

Monthly Receipts from Passengers and other sources in each year from 1836 to 1847, inclusive.............
Camden and Am boy Railroad Company............................................................................................................
Steamboat Tonnage o f Pittsburgh.—Fitchburgh Railroad..............................................................................
Railroad Baggage Checks.—Dividends o f Massachusetts Railroads...............................................................
Coal over the Reading Railroad.— Niagara Falls Suspension Bridge..................................................... 334

MERCANTILE

326
326
328
328
329
329
330

331
331
332
334

M I S C E L L AN I E S.

Confidence and Credit, a Poem.— Method in Business................................................. .................................... 335
J3u"ar vs. Cotton in the South, by Dr. L ew is F euc iitw an gk r ................................................................... 336
Kle'rcantile Library Association o f Charleston, S .C ...........................................................................................337
Mercantile Library Association o f Cincinnati.—Brazilian Slave Trude....................................................... 338
Commerce o f Belgium in 1846............................................................................................................................... 339
Conditions o f Success in Business......................................................................................................................... 340
London Merchants and the Royal Exchange...................................................................................................... 341
T h e Trading Morals o f the Tim es........................................................................................................................ 342
T he Foreign and Home Trade.— Foreign Commerce o f Great Britain......................................................... 343
Morality o f the Usury Laws.—Trading Company o f Jesuits.— Efforts to secure the Western T r a d e ... 344

T IIE B O O K T R A D E .
Notices o f 30 N ew Works, or New Editions, recently published................................................................... 353




HUN T ’S

MERCHANTS’ MAGAZINE.
M A R C H ,

1848.

Art. I.— DEBTS AND FINANCES OF THE STATES OF THE UNION:
W IT H

REFERENCE

TO

T IIE IR

GENERAL

C O N D IT IO N

AND

P R O S P E R IT Y .

CH A PTE R III.

The Middle States— New Y ork.
F IN A N C E S OF T H E S T A T E O r N E W Y O R K — G R E A T F IN A N C IA L O P E R A T IO N S O F N E W Y O R K — C L A S S IF IC A T IO N
OF T H E

T R E A S U R Y A C C O U N T S — O R IG IN OF T H E

T IO N S F O R
FU N D IN

SC H O O L FU N D — P R O G R E S S

1814— T R A N S F E R

P O L IC Y — C A N A L

OF T H E

G E N E R A L F U N D — R E S O U R C E S IN L A N D S — A P P R O P R IA ­
FU N D — I T S

R E S U L T S — M A G N IT U D E O F T H E

GENERAL

OF I T S R E S O U R C E S T O T H E SC H O O L FU N D — C O M M E N C E M E N T OF T H E C A N A L

FU ND C O N S T I T U T E D — I T S

S U C C E S S F U L O P E R A T I O N — S U C C E S S OF T H E E R IE C A N A L —

C H A N G E IN T H E C A N A L P O L IC Y — C O N S T R U C T IO N OF T H E L A T E R A L C A N A L S — T A B U L A R V I E W O F C A N A L S ,
LENG TH ,

L O C K A G E , C O S T , R E V E N U E , E T C .— P O L IC Y

R A P ID P R O G R E S S — L O AN S

OF T H E E N L A R G E M E N T OF T H E E R IE

OF S T A T E C R E D IT T O C O M P A N IE S — T H E

R E S U L T S — P O L IC Y OF

CA N A L— IT S

1842— T A B U ­

L A R S T A T E M E N T OF A L L T H E S T O C K S IS S U E D B Y T H E S T A T E — R A T E S OF I N T E R E S T , E T C .— A G G R E G A T E
S T A T E D E B T , AND PROCESS

OF I T S

R E D E M P T IO N — H O W

T O L L S ON T H E C A N A L S , FR O M T H E I R O R IG IN

1845— T R A N S F E R

TO

1847—

N E W Y O R K STO CK S W E R E H ELD — TA B L E OF

F IN A N C IA L P O L IC Y OF T H E

O F F IC E S OF T H E S E V E R A L S T O C K S — P R IC E S OF S T O C K S F R O M

C O N S T IT U T IO N OF

1841 T O 1S48, E T C .

T h e finances o f the State o f N ew Y ork afford most interesting lessons
to the statesman and legislator, as w ell as to the capitalist and banker.
T h ey present examples o f the most splendid success in the construction o f
State works, and also o f the most miserable failures. Almost every shade
o f difference, from sound principles o f finance to the wildest, hap-hazard
extravagance o f speculation, has been presented in the policy pursued
under various influences; and an illustration o f each is found in the fluetuating fortunes o f the State. An overflowing treasury, and unbounded
credit, has rapidly been succeeded by great poverty, and shattered confidence. Tottering on the verge o f insolvency, the prompt levy o f direct
taxes alone sustained the public faith, and preserved the honor o f the State,
as well as the welfare o f its commerce. The patronage o f the State g o ­
vernment has been the bone o f contention between political parties, and
partisan leaders have sought to strengthen their constituency by advocating
local expenditures, nominally for public purposes, but really for the private
advantage o f hosts o f contractors, bankers, stock-jobbers, brokers, and




344

D ebts and Finances o f the Stales o f the Union :

petty office-holders, feeding at the public crib, and united in the support
o f that power which most favors their interest. Through these influences,
the State was launched into that vortex o f extravagance and corruption
which swallowed up the honor o f nine sovereign States o f the Union, and
disgraced republican Am erica in the eyes o f the world. A sudden change
o f policy, by cutting off expenditure, and levying taxes to meet contingent
deficits, was the anchor o f safety. The policy then marked out by the
legislature has now been perpetuated by the new constitution ; and, with
the certainty o f a speedy release from debt, the citizen may look back, and
profit by the experience o f the past.
T h e financial transactions o f the State o f N ew York have been o f great
magnitude, and the resources o f the State have been such as to exempt
the people from onerous taxation, while successful investments have built
up a property which may reasonably be depended upon for all future exi.
gencies. The treasury accounts arc divided into six principal heads, as
fo llo w s :— 1st. The General Fund, which represents the regular and
direct finances o f the government ; 2d. The Common School F und; 3d.
T h e Literature Fund ; 4th. T h e Canal Fund ; 5lh. T h e Bank Fund, being
the amount created by the contributions o f the banks, under the safety fund
act o f 1829 ; 6th. T h e United States Deposit Fund, being the amount o f
the three instalments received from the federal government, under the act
for distributing the surplus revenues. There are several other funds, o f
which the State is trustee; as, “ The Mariners’ Fund,” & c . These
funds have become much complicated by borrowing one from the other,
and transferring securities, to meet exigencies in the affairs o f the treasury,
brought on, for the most part, by injudicious legislation.
T h e original fund o f the State was the “ general fund,” and for a long
time w'as actually a fund, the proceeds o f which discharged the State ex­
penses. It now represents a debt ow ing by the State ; to discharge the
interest and principal o f which, means have to be provided. At the close
o f the revolutionary war, the State o f N ew York, as now, consisted o f
49,000 square miles, and had a population o f 340,120 persons. On the
same territory, there are now 2,604,495 persons. H ence there were then,
within the boundaries o f the State, an immense extent o f unimproved
lands, which had been called “ crown la n d s;” the prospective settlement
o f which was justly regarded as a source o f great revenue. T here were
also “ quit rents,” which had been reserved to the sovereign, on extensive
patents granted ; and, when the people assumed the sovereignty, these
quit rents reverted to them. From these sources, chiefly, a common, or
“ general fund,” w as made up ; the annual revenues o f which were intend­
ed to defray the expenses o f the government, and relieve the people o f
the burden o f taxation for that object. The first grant from these lands
was an appropriation from the crown lands o f 28 townships and 450,(K)0
acres, o f the best quality, covering what now constitutes the fertile coun­
ties o f Onondaga, Cayuga, Cortland, Seneca, and Tompkins, as bounties
to the revolutionary soldiers o f the line in this State. In making these
grants, reservations for schools w ere made in each town ; amounting, in
all, to 40,000 acres. T h e other sources o f revenue to the general fund
w ere salt and auction duties, & c . In 1805, an act was passed appropria­
ting the proceeds o f 500,000 acres o f land to constitute a “ school fund,”
for the support o f common schools. The law provided that no distribution
should take place until the annual revenue amounted to $50,000. The




W ith R eference to their General Condition and P rosperity.

245

sales o f the lands rapidly swelled the fund, and the money was most ab­
surdly loaned to individuals and corporations, who failed, and the school fund
lost $161,641 44, which loss was thrown upon the general fund by a law
o f 1819, authorizing an exchange o f the obligations o f the bankrupts with
the, general fund for ■State loan o f 1792 and 1808, and $130 ,0 00 o f stock
o f Merchants’ Bank o f N ew York. In the same year, the school fund
realized $53,380 by a transfer o f quit rents to it from the general fund.
In 1821, the new constitution transferred all the lands, amounting to
991,659 acres, from the general fund to the school fund. In 1827,
$133,616 o f stock was transferred from the general to the school fund,
but $50,000 o f the amount was again lost by the failure o f the Middle
District Bank. In 1828, $500,000 o f State stock was loaned to the D el­
aware and Hudson Canal C'>., which was sold at a premium amounting to
$46,551 75, which was added to the capital o f the school fund. Notwith.
standing these appropriations, from 1816 to 1830, the annual revenues o f
the school fund were not equal to the amount required to make a dividend ;
and the general fund, in all that time, supplied $81,853 to make good that
deficit.
By various means, this fund has grown, in forty years, to
$ 2 ,2 1 0 ,2 6 7 ; and it has lost, by bad investments, $ 1 7 9 ,2 0 8 — leaving
$2 ,031,059 as its capital, and having distributed to the school districts, in
thirty years, $2,780,560.
In the years 1786, 1792, and 1808, the State had contracted debts
chargeable upon the general fund, which was constituted as stated. In
O ctober, 1814, notwithstanding the operation o f the school fund, the gene­
ral fund capital amounted to $1,398,913 97, and the State debt amounted
to $1,503,681 ; leaving a surplus o f $2,893,259. Being thus strong, the
State was able to assume the direct tax o f the United States government
during the w a r ; and, on the restoration o f peace, it levied a tax to replen­
ish the general fund, which tax ceased in 1826. In 1817, on entering
upon the construction o f the Erie and Champlain Canals, a sound policy
o f finance was devised. It was determined to place no reliance whatever
on contingent revenues from the proposed work, but to constitute a fund
which should, without the possibility o f failure, meet the interest on the
loans requisite for the construction o f the canals. For this purpose, the
taxes on steamboats, on salt, on goods sold at auction, and some other pro­
perty, were taken from the “ general fund,” and constituted a “ canal
fund,” under the charge o f canal commissioners, who were expressly
required so to limit the loans as that the annual interests should in no case
exceed what that fund would certainly meet. T h e operation o f this fund
was such, that, at the close o f 1826, when the canals were complete, the
debt was $7,737,771, while the amount o f money that had been actually
expended was $8,401,394 12, or $6 6 3 ,6 2 3 more than the existing debt.
In 1821, the tolls from the canal amounted to $14,388, and the new con ­
stitution o f that year fixed the minimum rate o f tolls on the. canals, and
devoted them, with the salt and auction duties, as a sinking fund for the
extinguishment o f the canal debt, removing from the legislature the power
to divert those revenues to any other purpose. In making this arrange­
ment, it was with the generally understood object o f discharging finally
the State debt, restoring to the general fund the moneys diverted from it,
and thus removing forever all apprehension o f taxes for government expen­
diture. A clear and well-defined policy was here marked out, v iz : to
contract no debt without fixing, beyond contingency, the ways and means
o f discharging it. In 1836, the whole debt falling due was paid, much o f




D ebts and Finances o f the States o f the Union :

246

it purchased in advance, at a high premium, and a fund o f $3,931,132 ac­
cumulated to meet the remainder, amounting to $3,762,256, when it should
mature ; and, to avoid the risk o f employing the funds until the right to
pay o ff the debt should be acquired, a liberal premium was offered for the
stock, without effect. The money having been realized, however, from
the sinking fund, to fulfil the pledge o f the constitution, that instrument
was amended in 1836 so as to restore to the general fund the salt and
auction duties, and to appropriate $200,000 annually, from the canal reve­
nues, to the general fund. In that period, v iz : from 1817 to 1836,
$3,592,039 was derived to the canal fund from auction duties, $73,510
from steamboat tax, and $2,055,458 front salt duties, making $5,721,007,
which was expended upon the canals, and which reduced by that sum the
amount o f the debt which otherwise would have been contracted. These
taxes, aiding the canal revenues, discharged the debt. As is ever the case,
however, with government expenditure, even when most judiciously made,
an interest grew up which urged the prosecution o f the works in a more
rapid and extravagant manner than the safe rule o f providing by taxation
for the interest o f debts contracted would permit; and the prudent policy
with which the works were commenced was modified so far as to project
new works, and authorize loans for their construction, depending upon any
possible surplus that the canal fund proper might yield. T h e policy o f
present and actual taxes was given up for pledges o f prospective revenues,
which have never been realized. The Erie Canal was not yet complete
when, in 1825, the Cayuga and Seneca Canal, o f 22 miles in length, and
60 feet lockage, was projected, and a bill passed to borrow money for its
construction. N o specific funds w ere set apart for the discharge o f the
new debt, but it was to form a part o f the canal debt, to be paid out o f
the canal fund. T his canal fund, constituted as above described, had becom e known, and its efficiency recognized as adequate to its original
object, and no more. W hen a new debt was added to its liabilities, new
funds should have been added to its means. This was neglected, however,
and a step towards discredit was taken. T his was followed by laws for
the construction o f other lateral canals, which have proved expensive fail­
ures. Th ey were as follows, showing the cost, actual tolls received, and
the expense o f repairs, & c . ; together with the. deficits o f revenues to meet
interest on cost o f construction and loans, paid from the general fund and
canal fund :—
Date

of

A

ct.

1825, April 2 0 ....
1829,
“
“
“ 1 5 ....
1833, February 13
1836, April 1 9 ....
“
May 6.........

W ork.
Seneca and Cayuga.
O sw ego.....................
( ’rooked Lake..........
Chem ung..................
Chenung....................
Black River..............

L '-th .
M iles.
22
40
8
40
95
35
120

Oneida L akeTotal.

360

L ’ kage. Cost.
Feet.
60
$•237,000
200
565.437
156,756
200
506
684,600
1,000
2,420.000
1,504.909
1,000
1,100
3.835.000
50,000

Revenue.
Tolls.
$330,407
528,049
26,843
102 878
226.354

Expenses.

101 339
3.208

224,030
35.792

$346,730
579.715
73.794
259,785
204,140

Gross
deficits.
$187,291
355.125
103.379
477,397
1,111 572
518,032
1,217.537
43.250

4,066 $9,377,760 $1,319,078 $l,721,98f> $1,073,563

These canals threw near $10,000,000 o f additional debt upon the canal
fund, without any provision being made to increase its means to meet it.
T h e mere expense o f keeping them in repair has exceeded the revenues
$402,908. The opening o f these lateral canals through new countries
crowded large quantities o f lumber, in rafts, into the Erie Canal. The
W estern crops were good, and the up-freights heavy, under the influence o f
grow ing extravagance and speculation. These circumstances conspired
to increase the tonnage on the Erie Canal, and suggest the propriety o f




W ith R eference to their General Condition and Prosperity.

247

enlarging it. A scheme so fruitful o f fat contracts did not want friends,
and the subject was submitted to the legislature in May, 1834, when a law
was passed authorizing double locks at Syracuse, and in 1835 was recom mended a provision for a requisite enlargement o f the Erie Canal, provided
that it should be done from the surplus revenues o f the canal fund, and
that no debt should be contracted for its enlargement or improvement.
Under these views, $721,441 60 was paid for the enlargement in the
years 1 8 3 5 -6 -7 . In 1838, a law was passed for the more speedy en­
largement o f the Erie Canal, and authorized the borrowing o f $4,000,000
for that purpose. The then commissioners o f the canal fund gave the
existing nett debt at $10,801,839, and estimated that it might be increased
$21,000,000 in the succeeding seven years, for purposes o f public im­
provement, in addition to loans o f State credit to private companies ; the
only limitation to which “ would be prescribed by a regard to the amount
o f State stock which would be sent into the market during any year.”
This policy was a total reversal o f that on which the E rie Canal had been
constructed, viz : instead o f fixing, by specified sums, derived from taxation,
the means o f meeting the principal and interest o f loans, and confining
those loans to the necessary work, an enormous expenditure on the en­
largement was projected, based on prospective revenues to be derived from
it, and large additional loans proposed, for which the State was to have
been answerable, and which depended entirely upon the success o f the
various speculations to avoid direct taxation for their discharge. This
policy prevailed, and in 1841 the situation o f affairs was as follows :—
Actual State debt............... $17,319,553 92 Req.tofinishworksinprog. $24,590,026 00
W orks surveyed and to be
----------------------26,648,111 11 Tot. debtund.exis’gsystem $68,557,691 03
authorized*.....................

So suddenly had the system expanded when once borrowing upon con ­
tingencies had been resorted to.
The policy o f loaning the State credit to companies was commenced in
1827, with the loan o f $500,000, 5 per cent stock, redeemable January,
1848, to the Delaware and Hudson Canal Company, and in 1829,
an additional $300,000, 4| per cent stock, redeemable January, 1849, was
loaned to the same company, and $10,000, 5 per cent stock, redeemable
in 1839, to the Neversink Navigation Company. In accordance with the
policy entertained in respect to the enlargement, $5,228,700 was loaned
to ten companies. O f these, four have failed, and the general fund has
been charged with the stock loaned to them.
* Canal round Niagara Falls...........................................Est. cost
Black River Canal extension.......................................................
Conewango
“
.......................................................
Chemung
“
.......................................................
Overflowed lands...........................................................................
Genesee Valley feeder.................................................................
Hudson River improvement........................................................
Ogdensburgh and Champlain Railroad......................................
Erie Railroad (additional)............................................................
N ew Y ork and Albany Railroad...............................................
Saratoga and Whitehall Railroad............................. ................
Glen’s Falls feeder.......................................................................
Dam at Fort Edward....................................................................
Oswego enlargement.......................................... .........................
Cayuga and Seneca......................................................................
Oneida Lake Canal and river......................................................
Total




$5,041,725
4,453,639
3,365,738
1,741,982
289,517
84,442
1,348,820
2,137,108
3,000,000
750.000
300.000
74,204
110,884
2.500.000
1.300.000
150,050

48
36
64
23
08
26
55
09
00
00
00
41
51
00
00
00

$26,648,111 51

248

D ebts and Finances o f the States o f the Union :

T h e only limit proposed to these issues by the policy o f 1838, was the
regard to the quantity o f stock the market would bear. This policy ap­
pears, however, to have been entirely disregarded. From September,
1841, to February, 1842, amid general panic, and the constant explosion
o f indebted States in all parts o f the Union, the issues o f stock to ihe Erie
Railroad were uninterrupted, and they w ere sold at auction for what they
would bring. T h e law authorizing the issue o f stock to the Erie Railroad
required, with a view to protect the credit o f the State, that it should not
be sold under par. The company argued, however, that they had a right
to se’l at any price, provided they accounted to the State at par. The first
$1,500,000 was sold as follow s:—
SALES OP NEW YORK STATE STOCKS ON ACCOUNT OF NEW YORK AND ERIE RAILROAD.

Amount of R iteof
issue. interest.
Buyer.
$ 100,000 4J J. Carow.. .......................
100,000 44 11 ink o f C om m erce......
100,000 44 Howland & Aspinwall..
3,000 54 G. S. Robbins........ ........
97,000 54 Merchants’ B a n k ..........
33,000 54 Camman &, Whitehouse
10,otto 54 G. I. Ellicott....................
16,000 54 L. C o it.............................
36.000 54 Shipman & Ayres.........
20,000 54 H. 'Trowbridge ..............
15,000 54 VV. H. Falls ...................
65.900 54 Shipman & A vres.........
100,000 54 J. J. Palmer.....................
7,000 54 H. Shepard...... ................
88,000 54 Camman & Whitehouse
5,000 54 Bates Cook......................
10,000 54 Keichum & Oleoit..........
15,000 54 Brooklyn Savings Bank.
75,000 54 Camman & Whitehouse
95,000 54 Davis &- Brooks.............
“
“
.............
10,000 54
20,900 54 Camman & Whitehouse
2,000 54 Mary Rutherford ..........
43.000 54 Prime, Ward, & King...
19,000 54 Nevins & T ow n sen d....
«
44
33,000 54
44
44
17,0)0 54
44
44
20,000 54
5,000 54 Prime, Ward, &, King...
10,000 54 Camman & Whitehouse

Date of Issue.
1839, June....
4t
August.
“
October.
1840, June.....
<4
44
“
August.
<4
44
44
44
44
44
44
44
44
44
w
“
,f

October.
N ovem..
Decem...

44

44

44

44

1841, January
44

44

“
“
“

March..
Febru’yMarch..

44

44

44

44

•*
“
“
44

"
“
44

<< 19
April....
Mar. 20
#

44

April....
March..
44

Total.......... $

Price.
85...............
77.974.............
824, i o f f .
P»r..............
9 3 .par, 4 off...
par “ ...
par..............
93...............
99...............
99, int. off.
par “
99$ nar “
974 “
.
par..............
94...............
97...............
944.............
96...............
85 .99, 4 o ff...
93...............
99...............
87, i o ff...
par..............
85, 4 off....
86...............
85 .87, 4 o ff...
85, int. off.
88
“
.
86
“
.
854.............

Amount
received.
$85,090
77,975
82,250
3,000
94,966
37.785

10,000
15,840
35,640
19,679
14,909
65,514
97,375
7,000
82,720
4,850
9,450
14,400
64,362
23,133
8,955
17,350
2,000
45,008
16,292
23,002
14,287
17,150
4,265
8,523
$1,006,795

114.000
386,000 hypothecated with Prime, W ard, & King.

$1,500,000 total issue by the State.

T h e market had by this time becom e so depressed, that the interest on
the remaining $1,500,000 authorized to the road was raised to a 6 per
cent, which was forced upon the market every fourteen days until all had
been obtained. T h e effect o f these sales upon the market was clearly
discernible. T h e following are rates o f the different denominations o f
N ew York stocks, at several periods :—
August, 1841. October.

New Y ork State 6’s. 1861....
“
“
54's, I860..
“
“
54’s, 1858..




100
92
86

98
90
85

December. Jan’ y, 1842. February.

90
82
81

81
75
77

82
76
79

W ith R eference to their General Condition and P rosperity.

249

These 6 per cents o f 1861, and the 5 i ’ s, are those issued to the road,
and we find that those descriptions fell 18 per cent, while the regular State
5 ’s fell but 7 per c e n t ; and that in February the 5 per cents, or those
issued for the Erie enlargement, were actually 3 per cent higher than the
51 per cents issued to the railroad.
T h e last issue o f stock to the Erie Railroad was January 29, 1 8 4 2 ;
and on the 12th March, forty-two days afterwards, the Governor received
notice that the read had failed, and could not meet its engagements— con­
sequently, this $3 ,000,000 becam e a charge upon the general fund : and
recent laws have agreed to relinquish the claim the State has upon the
road. This failure, with that o f the Hudson and Berkshire, the 1 haca
and Osw ego, and the Catskill and Canajoharie, threw' a debt o f $3,665,700
upon the “ general fund,” already burdened w ith onerous liabilities. It
was fully evident that the limit to issues o f State credit for private pur­
poses, as proposed by the policy o f 1838, wras already reached'— v iz : that
the market W'ould bear no more stock. State 6 ’s had fallen to 82 percent,
and a system was in operation that proposed to bring at least $40,000 000
more stock upon the market. The “ general fund,” which had been ex­
hausted by the payment o f $1,500,000 old debt before 1825, and by the
transfer o f its revenues to the school and canal fund, had contracted debts
which amounted, in 1842, to $561,500, 5 per cent stock, issued to John
Jacob A stor; $586 ,5 32 borrowed o f the bank fund, and $800,000 o f the
canal fund. The revenues consisted o f the salt and auction duties, restored
to it in 1836, clerks’ fees, and $200,000 payable to it by the law o f 1836,
out o f the canal revenues. There was charged upon it the annual ex­
penses o f the government, and the interest o f the stock issued to defaulting
railroads. The safety fund bank law o f 1829 had required o f the banks
to contribute a small per cent annually', to constitute a fund out o f which
the notes o f any bankrupt institution might be paid. This money had
been borrowed by the general fu nd; and in 1840, when many o f the
safety fund banks failed, it becam e necessary for the general fund to restore
the amount it had borrowed. T o do so, a 5 per cent stock o f $348,107
was issued. In this state o f affairs, the solvency o f the State was in great
jeopardy ; and but one course w'as, by general consent, to be pursued—
viz : to stop all expenditures upon the public works, to issue stock in order
to settle with contractors on the best terms, and preserve the credit o f the
State, and levy a tax to make good the deficits for the support o f govern­
ment, and the interest on the State debt. This was adopted by the law o f
1842. By its operation, and the aid o f the mill tax, the State barely
escaped bankruptcy. W hen the law w as passed, (February 7, 1842 ) the
canal debt was $18,056,011 7 2 ; and it was estimated that $600,000
would require to be added to pay arrearages to contractors. The sum
actually expended for this purpose, up to June, 1846, was $3,175,008 09,
which was borrowed in a 7 per cent stock ; being over $2,500,000 more
than the estimates. T h e law o f 1842 established a sinking fund, which
was to extinguish the whole debt in twenty-two and a half years from that
time. T o do this, the following sums w ere required to be raised :—
Principal.

Interest.

Total.

Canal debt......................
General debt..................

$16,944,815 57
5,885,547 24

$10,518,184 29
6,703,708 64

$27,4 62,999 86
12,589,257 88

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

$22,830,364 81

$17,221,692 93

$40,052,257 74

T h e only dependence to raise this large sum, equal to $2,000,000 per




250

D ebts and Finances o f the States o f the Union :

annum over the State expenses, was the nett revenues o f the canals. T o
constitute a sinking fund from those revenues, it was enacted that an amount
equal to one-third o f the then existing annual interest should be taken from
the surplus canal revenues, and applied annually to the sinking fund. Thus,
the interest being then $1,127,723 16, one-third o f this sum ($3 75 ,9 06 38 )
was required to be set apart annually, to accumulate at interest, in order
to form a fund for the extinguishment o f the whole debt. If, in any year,
the canals should not yield sufficient to permit this appropriation to the
sinking fund, it was necessary to make it good, with the back interest it
should have earned, from future revenues. Under all these circumstances,
the stocks issued by the State have been as follows :—
ISSUES OF NEW YOKE STATE STOCK.

D escriptio n .
Erie and Chanydain Canal
“
“
“
“
««
“
«(
tl
“

«
“
u
u
“

M
u
a
a
a
a
a

It
a
a
a
a
a
a

Date
o f issue.
Redeemable.
1817
1837
1837
1818
1837
1819
1819
1837
Jan. 1821)
1837
Feb. 1820
1837
1837
Aug. 1820
1821
1837
1837
1822
Sept. 1821 July,
1845
Oct. 1822
1845
1822
1845
1823
1845
1823
1845
1824
1845
Nov. 1824
1845
1825
1846

Rate o f
interest
6’s
-----4.52 p r . . . .
6’ s
..11 a 2.68 pr.. 6’ s
6’s
6’ s
6’s
...7 1 a 8 p r .. . 6’ s
. .6 a 6.05 p r .. 5’ s
. . . . 1.25 pr----- 6’ s
... .7 . 1 0 p r .... 6’ s
....2 .5 4 dis___ 5’s
-----7.32 p r .. . .
6’ s
. . I a 6.50 d is .. 5’ s
. . . . 5.36 p r ... • 6’ s
. . l a 9.96 p r . . 5’s
5’ s
6’ s
Terms.

Erie Enlargement..............
Blnck River........................
Erie Enlargement.............

1826
1826
1828
1829
1830
1831
1831
1833
1833
1833
1834
1836
1837
1837
1837
1837
1837
1837
1838
1838
1838
1839

Oneida River.....................
Chenango............................
Erie Enlargement..............
“
..............
Blnck River.......................
Genesee Valley..................
Oneitla River......................
Chenango............................
Erie Enlargement..............
Chemung............................
“
............................
Black River........................

1861
1839
1851
1839
1840 July,
1854
1840
1858
1840
1858
1858
1840
1840 January, 1861
1840
18.54
1860
1841 July,
1841 January, 1861
1861
1841
1841 July,
1858

Genesee V alley.................
Oneida Lake......................
Erie Enlargement.............
Genesee Valley.................

1841
1841
1842
1842

Chem ung...........................
Chenango...........................
Chenango............................
“
............................
...........................
“
“
............................
Black River........................
Genesee Valley..................
•*
..................

$7,739,771

$7,739,771
227.000
150.000
210.000

..

.10.38 a 11 pr..
.15.10 p r. . .

227.000
150.000
210.000
87,000
150.000
140,263

...1 7 .5 1 p r ....
...1 5 .5 1 p r ....

5’s
5’s

25,737
100.000

p r.. . .
p r .. . .
. .2 a 6.82 pr.
. .5 a 7.91 p r ..

5’s
5’s
5’s
5’s
5’s

900.000
675,000
525,969
69.030
316,247

1861
1861

8.15 a 11.18 pr

5’ s
5’s
5’s
5’s
5’s

1,978,526
21.474
92 532
1,000.000
23,200
3,0.0,000

1856
1851
1856

5’s
5’s
6’s
5’s
5’s
5’s
5’s
5’s
6’s
5’s
6’s
5’s

25,000
20.000
500,000
2,225,519
250.000
556.379
25,000
20,000
303,100
100,000
32.974
26,706

April,
July,

1858
1851
I860
1860

5’s
5’ s
6’ s
6’ s

56.379
50.000
8.500
10.000

• par

a 2.25 pr..

. . ..J a 3
. . . .7.10

. ..1-5 a 3 pr...

. .9 a 153 di3..
. .9 a 15^ dis..

. .9 a 15-j dis..
------ pnr..........
-----153 dis-----...-1 5 3 d i s ....
........ par............

$14,472,257

Total canal issue............




1846
1846
1846
July,
1849
August, 1850
1850
1850
1850
1845
1850
1845
1845
1845
1845
January, 1851

Redeemed.

5’s
5’ s
5’s
5’s
5’s
5’s

T otal................................
Oswego Canal....................
Cavtiga and Seneca..........
O sw ego ...............................
Cayuga and Seneca..........
Chemung............................
“
............................

Amount.
$200,000
200.000
375.000
25,000
130.000
300.000
263,500
1,000.000
600,000
250,000
200.000
300.000
856,000
300,0"0
1,118.271
450 000
270.000

\

100,000

900.000
675.000
525.969
69,030

92,532

$2,949,531

W ith Reference to their General Condition and Prosperity .

251

ISSUES OF NEW YORK STATE STOCK---- CONTINUED.

Preserving credit o f State.

1842 July,

1842
1843
May, 1843
1843
1844
Sept. 1844
June, 1845
1845
1845

John Jacob Astor..............
Delaware &. Hudson Canal
“
“
Catskill&CanajoharieR.*
“
“
Auburn and Syracuse. . . .
“
Rochester....
“
“
Ithaca and O w ego*..........
“
“
New York and Erie*.......
“
“
“
“
“
“
“
“
Hudson and Berkshire*...
Tioga Coal and Iron C o ..
Long Island Railroad . . . .
Schenectady and T r o y .. .

1841
1832
1827
1829
1835
1835
1835
1838
1838
1838
1838
1840
1838
1840
1841
1842
1842
1840
1840
1840
1841
1842

June,

1848
1849
i860
1860
1860
1862
1862
1862
1862
1862

........ par............
........ par............
........ 2 } pr........
. . . .6 .4 0 p r .. . .
. . . .6.65 p r . . . .
... .1 . 5 1 p r . .. .
........ par............
. . . .2 .3 0 p r . . . .
. . . .3 .2 5 p r . . . .
. . . .2 .2 5 p r ... •

1848
At pleasure..
January, 1848
July,
1849
1858
January, 1859
July,
1860
1858
i860
1861
January, 1864
July,
1865
1859
1861
1861
1862
1862
1865

..
..
..
••
..
..
..
..
..
..
..
..
..
..
..
..
..
..

1865
1861
1867

••
..
..

7’ s
7’ s
6’ s
6’ s
6’ s
5’s
5*s
6’ s
6’ s
6’ s

$1,584,736
2,062 400
320 000
150.000
150.000
555.000
100 000
225.000
5,000
270 000

$346,006

$5,422,136

$346,006

348.000
561.500
500.000
293,000
100,000
50,000
50.000
200 000
100.000

........ .

. • 5's
..

5A’ s

lo o . o o o

..
..

6’s
6’s

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

287.700
i8,()00
300,000
400.000
1,100 000
300 000
900.000
150.000
100.000
70.000
100.000
100,000
$5,228,700

T h e companies marked thus
them, amounting to $3,655,700,
demption. This represents all
State, and may be recapitulated

500,000

.........

$500,000

(* ) have failed, and the stock issued to
has fallen upon the general fund for rethe stocks that have been issued by the
as follows :—
State stock
•utstanding.

Issued.

Cancelled—redeemed.

$7,739,771
2,919,531
346,006

Solvent companies...........................

$7,739,771
14,472,257
5,422,136
909,500
3,665,700
1,563,000

500,000

$11,522,726
5,076,130
909,500
3,665,700
1,063,000

Total stock....................................

$33,772,364

$11,189,302

$22,137,066

Erie and Champlain Canal............
Profitless works.................................
Preserving credit o f the State........

There is now little or no danger but that the stock issued to solvent com ­
panies will be paid by themselves, and therefore the amount o f actual stock
debt for which the State is liable is $21,520,062. T his debt, by recapitu­
lation, is payable as in the following table, showing the amount o f stock
falling due in each year, with the interest payable in each year :—
July 1—
1848.......................
1849.......................
1850.......................
1851...................... ........
1852.......................
1853.......................
1854......................
1855......................
1856 ......................
1857.......................




Principal falls due.

$1,932,843 00

1,732,846 65

Interest payable
in each year.

$1,222,187
1,091,706
976,534
926,218
862,897
834,877
826,627
803,877
653,877
570,838

50
69
85
19
40
40
40
40
40
30

Total, payable
in ench vear.

$3,155,030
3,241,106
1,412,534
2,659,064
1,329,897
834,877
1,346,627
803,877
5,301,772
570,838

50
69
85
84
40
40
40
40
99
30

252

D ebts and Finances o f the States o f the Union :
TABLE— CONTINUED.

1858..................... .........
1859......................
1866..................... ........
1861................ ... .........
1862 .................... ........
181 3 .....................
1864..................... ........
1865...................... ........

$ 3 158,605 34
09
1.233,109 09
3,682.974 23
1,906,000 60

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

$22,806,364 81

587,700 00
28,006 00

$532,605
416,658
383,886
220,810
111,986
29,486
19,243
1,540

$3,691,211
660,658
1,676,986
3.903,784
2,011,986
29,486
606,943
29,540

73
03
53
38
56
56
25
00

$10,479,859 45

07
03
53
61
56
56
25
00

$33,286,224 26

In this amount o f principal to be paid is included some amounts due by
the general fund to other funds, but not in the shape o f stocks.
In 1843, the amount o f stock outstanding was $25,999,074, held as
fo llo w s:—
7 per cents o f 1848.............
Bnnk fund stock o f 1*848...
Delaware and Hudson stuck
A ll other...............................
Total

Held in
New York State.

Held in
other States.

Held by
Foreigners.

$1,445,736
350,257
409,316
11,823,231

$166,560

$32,500

17,358
1,062,900

373.324
10,429,952

$1,584,736
350.257
860,000
23,264,081

$14,038,540

$1,126,758

$10,833,776

$25,999,074

Total.

A considerable portion o f this stock was held abroad, it appears, when
it was in high credit, prior to the issue o f the stock to preserve the credit
o f the State ; at which time, the universal discredit o f the several States
caused foreign investments to cease.
T h e act o f 1842, which changed the policy o f the State in regard to
public works, and stopped the expenditure, levied a tax o f one mill per
$ 1 00 o f valuation. O ne-half o f this tax was to be applied to the canal
fund, and the other to the general fund. W henever the revenue from the
canals should exceed the annual expenditure, and interest and payment to
the general fund, by more than one-third the amount o f the annual interest,
then the half o f the mill tax applied to the canal fund should cease. This,
through the increase o f tolls, proved to be the case in 1844, when its col­
lection ceased. In like manner, whenever the revenues o f the general
fund should exceed the charges upon it by one-third o f the annual interest
paid by it, the half o f the mill tax appropriated should also cease. This
is not likely speedily to be the case. T h e law o f 1844, imposing a tax
o f one-tenth o f a mill to provide for a debt to preserve the credit o f the
State, had also its conditions fulfilled through the increase o f the canal
revenues for 1847, and the tax has been discontinued. The tolls on the
N ew York State canals have been as follows :—
1820....
1821 ...
1822...
1823...,
1 8 2 4 ...
1825...
1826...
1 8 2 7 ...
1828...
1829...

$5,437
14,388
64,672
152,958
310,761
566,112
762 00.3
859,058
8 3 s,444
813,137

1839................
1831
.....
.....
1832
1833
.....
1834
.....
1835
.....
1836
.....
1837
.....
1838
.....

$1,056,922
1,223,801
1.229,483
1,463,820
1,341,319
1,548.986
1,614.336
1.292,623
1,590,511

1839
.....
1840
.....
.....
1841
1842 ...............
1843
.....
'1844................
1845
.....
1846 ...............
1847
.....

$1,616,983
1,775,747
2,034,882
1,749,196
2,681,590
2,446,374
2,646,181
2.764,121
3,531,771

This has been the progress o f that immense work, the cost o f which




W ith R eference to their General Condition and P rosperity.

253

w as finally discharged in 1836 ; and, had the policy been persevered in o f
applying only the surplus to the enlargement, the amount which would
have been spared for that purpose is as follows :—
$717,803 1341........ . ... $1,533,224 1845 ......... . ...
$1,714,566
1837 .........
1,170,771 1846 .........
841,888 H 4 2 ........
2,202,861
1838..........
1,457,733 1847..........
2,866,000
1,111,517 1843........
1839..........
1844.........
1,8,12,400
1840..........
T o ta l..................................................................................................................... $16,478,763

This would have been sufficient to have completed it fully, and left the
State free o f debt, and, with a canal seven feet deep, entirely beyond
competition for the Western trade. Instead o f that, there is no enlarge­
m en t; a debt o f $ 2 1 ,0 0 0 ,0 0 0 ; and the, surplus revenues mortgaged for
eighteen years, to discharge it. It would seem that the law for the “ more
speedy enlargement” was an excellent illustration o f the trite old saying,
“ M ore haste, less speed.”
T h e constitution o f 1845 provides that, from June, 1846, from the nett
proceeds o f the canals there shall be appropriated $1 ,300,000 per annum
for a sinking fund, to pay the interest and redeem the principal o f the canal
debt, until 1855. when it shall be $1,700,000 per annum until the whole
shall be paid. After this appropriation, there shall be applied from the bal­
ance o f canal revenues $350,000 per annum until 1855, when $ 1,500,000
per annum shall be applied as a sinking fund to the entire extinguishment
o f the general fund debt. After these two appropriations shall have been
made, $200,000 per annum shall be applied to the general fund for ex­
penses o f government, and the remainder o f the revenues to be applied,
in such manner as the legislature shall direct, to the Erie Canal enlarge­
ment, the Genesee Valley and Black R iver Canals, until completed. The
constitution also prohibits the loaning o f the credit o f the State to any
association or corporation, and also the contracting o f any debt over
$1,000,000. The amount o f debt and interest falling due in the years
1848 and ’49 is, as seen in the above table, near $6,500,000, and some­
what exceeds the present means o f the sinking fund ; but its credit is un­
doubted, as it is at present constructed.
It is remarkable that, while the tolls have been so large, and have been
aided by a tax which has brought $2,126,101 into the treasury, the State
should be still struggling with its difficulties, grow ing out o f its debt. T h e
Canal Board o f 1838, which changed the policy o f the State at that time,
based its estimates o f a large debt upon an annual increase o f the Erie
and Champlain canal tolls o f 7| per cent per annum, for seven years, over
the amount o f the previous ten years. These estimates compare with
actual results as fo llow s :—
Years.

Actual rec’ t*.

1830.................
1831.................
1632.................
1833.................
18 U .................
1835.................
1836.................
1837.................

$990,843
1,187.139
1,059,006
1,317,258
1,3 .5,67.3
1,395,306
1,504.384
1,233,648

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

$9,993,157




Years.

Est. at

p. cent.

Actual receipts.

1840 ............
1841.............
1842.............
1813............
1844............
1845...'......... .
1846.............
1847.............

$1,733,975
2,077,493
1,853,261
2,3.(5,201
2,284,752
2,441,786
2,1 32,672
2,258,888

$1,531,457
1,892,087
1,705,312
1,863,326
2,258,638
2,214,558
2,606,611
3,360,272

Total........

$17,587,923

$17,435,261

D ebts and. Finances o f the States o f the U nion:

254

This shows almost an entire accuracy in the estimated ratio o f increase
f o r a series o f eight y ears; but the extraordinary revenues o f 1846-47
grew out o f the lucrative export, which hurried produce down the canals,
and brought up the figures to the estimate o f the series by swelling them
$1,000,000 over the estimate for the last year. T h e amount o f money
estimated has, however, been receiv ed ; but how utterly it falls short o f
its supposed power in sustaining a $40,000,000 d e b t! So insidious is the
operation o f stock debts, and so expensive is credit, that the $17,500,000
o f tolls, and $2,126,000 o f taxes, leaves the State short o f means to meet
the debt falling due in 1848 !
T h e certificates o f the stocks issued to railroad companies are made
out in even sums not exceeding $1,000, and are uttered by the Comptroller
o f the State to the order o f the companies respectively. T h e transfer o f
the stock is effected at different banks in W all-street, designated by the
companies. The propri^or must attend in person or by attorney, to sign
an acknowledgement o f transfer, and the certificate is delivered to the new
proprietor, endorsed with a memorandum o f the transfer. T h e canal stock,
as also that issued to the Delaware and Hudson Company, is registered in
the name o f the proprietor, and is transferred, either in whole or in frac­
tional parts, at the treasury or at the Manhattan Bank, in the case o f the
former, and at the office o f the Company, in case o f the latter; the origi­
nal certificate is given up and cancelled, and a new one issued in the name
o f the person to whom the stock is transferred. T h e different stocks are
transferable as follows :—
Canal stock................................................. Treasury, Albany, or Manhattan Bank, N. Y . city.
Delaware and Hudson Canal C o.............Office o f the Company.
Nevereink Navigation................................................................................................................ ...
N ew York and Erie Railroad, 44 P- cts. Manhattan Bank, N ew Y ork city.
“
“
“
Merchants’ Bank,
“
Ithaca and Oswego Railroad....................Bank o f the State o f N ew Y ork, N. Y ork city.
Catskill and Canajoharie...........................Chemical Bank, N ew York city.
Auburn and Syracuse................................ Phoenix Bank,
“
Auburn and Rochester......................................................................................................................
“
Hudson and Berkshire.............................. Mechanics’ Bank,
T ioga Coal C om pany........................................................ ................................................ ....... .
Tonawanda Railroad.................................Merchants’ Bank,
w

T h e fluctuations which have taken place in the prices o f N ew York
State stocks, during the last six years, are an index not only to the various
changes in the money market, but also to the influence o f the leading fea­
tures o f the State policy, to which w e have alluded. T h e following table
will show the changes in value— com m encing in August, 1841, and falling
to 80 for a 6 per cent stock in February, 1842, when the State policy was
ch a n g ed ; thence gradually rising to 113 for the same stock in January,
1845— a rise o f 33 per cent in three years.
PRICES OF NEW YORK STATE STOCKS IN THE NEW YORK MARKET.

Da t e .

1841, August....
November
1842, February..
A pril.......
August....
November




5 per cents.
86
80
75
82
83

84

a
a
a
a
a
a

92
82
77

5£ per cents.
914 a 9 2

88

82
75
83
83

87

86

84

a
a
a
a
a

83
754
85
834
88

6 per cents.
100 a 1004
97
80
90
91
93

a
a
a
a
a

99
81
93
95
96

7 per cents.
none.
<<
«

1004 a 1004
102 a 1024

255

W ith R eference to their General Condition and P rosperity.
PRICES OF NEW YORK STATE STOCKS---- CONTINUED.

1842, December
1843, February..
A p ril........
October...
1844, M arch.....
October....
1845, January...
December.
1846, January...
April........
July..........
December
1847, January...
A pril........
July..........
September
November
December
1848, January...

84
91
93

100
101*
101*
104
103
98
99
96
941
95
96
101*
100}
100*
97
92

a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a

86

88

93
94

96
97

100*
102
102

1024
1024
102

105
103*
99

105
104

100

100

97
95
95*
96*
101}

101
1004
97*
93

a
a
a
a
a
a
a
a

90
97
98
103
1034
102}
106
104*

a 1014

99 a 100
99* a 994
101 a 101*
1044 a 104}
104 a 104*
102 a 102*
101} a 102
98 a 99

96} a

101
103
108
IO84
109

112
110
105
105

102
102
103
103
107*
IO64
103
102}

100

a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a

98
103
105
109

110
110
113

1104
105*
106
105

103}
105
105
107
1074
108
109
106
104*

1024
103*
103*
1074
106}
103*
103
100*

102
101
100
1004
101*
103}
1034
101*

1014
100

a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a
a

104
105*
106
107*
108
IO84
IO94
107
104*
104

1024
101
100}
1014
104
103}

1014
102
100}

T h e influence o f the free banking law, in producing a demand for
N e w Y ork stocks, and a consequent rise in prices, has been considerable.
T h e law originally allowed all State stocks to be taken in pledge by the
Comptroller, as security for circulating notes ; but the failure o f most
States, through that course o f policy which so nearly ruined N ew Y ork,
exposed the impolicy o f such provisions. Several successive amendments
finally resulted in excluding all but those o f N ew Y ork State. During the
past few years, a disposition to create new banks has been very m anifest;
and, as a consequence, the demand for N ew Y ork stocks has been active.
T h e amounts pledged with the Comptroller in D ecem ber o f each year,
have been as follows :—
STOCKS PLEDGED WITH THE COMPTROLLER AS SECURITY FOR BANK-NOTES.
N ew Y

ork

Sto ck.

4J per c e n t ......
5
“
5}
“
6
“
7
“

1812,
$100,000
763,637
70,000
118,200
174,000

1848 .

1844 .

1845.

1846.

1847.

$32,000 $216,157 $218,876 $227,976
$265,376
1,113,869 1,788,721 2,135,113
2,543,141 4,886,889
243,000
402,000
441,000
485,000
892,000
125,000
298,100
465,592
601,592 1,055,665
234,565
359,927
544,880
615,136
801,009

Total N. Y ork $1,225,837 $1,826,434 $3,064,908 $3,805,462 $4,472,845 $7,900,239
Other stock.... 1,025,254 1,918,395 1,938,448 1,809,293 1,772,700 1,577,924
Total securit. 4,737,285 5,270,369 6,583,870 7,292,780 7,835,850 11,100,213

T h e amount o f stock changed hands, or purchased from capitalists for
bank purposes, has been, it appears, $ 6 ,7 0 0 ,0 0 0 ; and in that period over
$3 ,000,000 has been paid off— making about $10,000,000 less in the
hands o f capitalists than before. During the past year, the demand has
been to the extent o f $3,500,000, mostly for State 5 ’ s, which were thereby
carried to par. Subsequently, when the money market becam e pressed,
the reverse o f this operation took place ; and banks which had bought
5 ’ s at par, being unable to sustain their circulation, w ere subsequently
obliged to sell, upon a tight market, the same stock, at 90.
t . p. k .




256

P rogress.

Art. II.— PROGRESS.
T he immediate bearing; which the s pir it and law s of progress have
upon commercial interests, prop >ses ample apology, if not inducements,
also, for the guardians o f the latter to study closely whatever pertains to
the firm er ; and, although a disquisition upon progress may want the
visible mark o f the $ and £ in its illustrations o f principles and results, or
derive no aids from the mercantile day-book and ledger, it may most
appropriately claim a place in the pages o f a magazine that is devoted to
the notation o f commercial events, past, present, and prospective ; among
the more important o f which, may be included the acquisition o f territory,
and extension o f the jurisdiction o f its own country’ s government and laws
over ports, and harbors, and navigable rivers, that hitherto have been
subject to foreign legislation.
P rogress is the order o f the day— the hero-characteristic o f the age.
T h e spiritual herald o f each coming event has the startling imprint,
P rogress , like a broad pennant waving from on high, distinctively, visibly,
legibly standing out on every scroll unfurled to the breeze.
W o and disappointment await the man, whether priest or politician,
king or subject, who shuts up his understanding in ignorance o f this great
truth. As well might he hope, to escape danger and harm by recourse to
sleep when the mountains fall, or the floods sw eep over him, or deny
that the sun shines when his eye-lids are closed, and light is mechanically
shut out from his vision. And to resist this movement o f our times, w ere
as futile in thought, as the effort would prove feeble in attempt. As well
might one hope to revolutionize the course o f nature— stay the laws o f
matter and o f creation— to war successfully upon the individual forces that
centre and impel each ultimate particle o f the p' ysical universe, and say
to each, be still— 'hat universal, stagnation may ensue !
It is far back, high up. long standing, as both the internal and external
forces that govern the physical world have an origin, that this spiritual
movement, now gathered into a greatness and distinctness that are being seen and felt, and that awe-strikes us all, has its source, its stand­
ing-point, and derives its impetus. It is because o f its d iv in it y , that it
has a majesty and a grandeur that are irresistible— overwhelming. W hile
sluggish minds, and antiquated systems, and pampered privileges, without
merit,* pause to consider what shall be done to stay it, already it has
passed them by— they are left behind in astonishment, if not in ruins !
N o more can they again recover the intervening distance— no more over­
take the antagonist movement that has thus easily passed them in triumph
and in scorn !
It is, moreover, because o f its d iv in it y , that it cannot fail— that it will
not be stayed. M ere human theories o f right and wrong fall before it—
* Since the context was written, I have seen the London Express o f October 23,1,1847,
in which is an able editorial article, which commences thus:—•
“ One wholesome feature o f
the legislation o f our time is the disposition manifested by it to abolish privileges, when rea­
sons f >r them h ive disappeared.” And the article specifies a recent case in which a privilege
o f the ki id w is recognized by the Justice o f the Exchequer Court to an officer o f the
Queen’s household, from “ ihe fict that the privilege belonged not to the party, but to the
crown
but accompanied by the very significant remark o f the court, rebuking the Queen
for employing persons standing in need o f such a privilege over other people ! I f this be
the spirit o f the Queen's own justiciary in the green tree, what may we expect in the dry?




P rogress.

257

abstract and abstruse metaphysical disquisitions on the requirements o f
justice,the precepts o f religion— on benevolence, philanthropy, the doctrine
o f “ peace on earth and good-will towards m en,” as these have been hitherto
understood, fall alike before it, and disappear from the senses as illusions—
as the mere exercises o f a dreamy state o f semi-consciousness. Minds
are being lifted up by this movement— by progress — to a higher and
hitherto unappreciated strata o f principles, that develop, and at the same
time govern the purposes o f D iv in it y — unfolding to human com prehen­
sion yet another “ new and better covenant” betw’een man and his C re­
ator— higher destiny for the creature, g r e a te r glory for t h e C r e a t o r !
It m ay.be— it is difficult for us at this day, to appreciate the holy horror
wdth which the Jews were inspired by the first dawning o f the doctrines
o f Jesus Christ. But none can doubt the national sincerity o f that people
in regarding as impious and profane teachings doctrines so radically
antagonistical, and repugnant to all their preconceived and hallowed re­
ligious ordinances, as were those o f Jesus and his few humble disciples.
And yet, the principles o f his sermon on the mount seem, at this day, so
simple, so winning, so self-evident in their application to ordinary human
relations, it is, indeed, difficult to conceive how a frame o f national
sentiment could have existed repugnant to them, or to which they could
be repulsive, much less be regarded by it as blasphemous. This is the
result o f progress — lifting man up to a higher strata than before o f moral
consciousness and vision.
T o conceive correctly the antecedent condition— to understand how it
could be, as we know it must have been, with m ens’ reasoning faculties
then— in truthfulness and sincerity, w e must need cast ourselves down the
deep abyss o f time and events— o f intellectual blindness and ignorance,
that have since passed away, and school our feelings and sentiments and
consciousness after the precise model o f the Jewish people in those days.
It is then, and only then, that we can do them and their impulses that
justice which w e, or rather our memories, may stand in need o f from
some future, distant generation, for our present blindness and errors in
resisting now what are the great commands o f progress .
Men talk with seeming horror— nay, sincere, truth-loving men, with
real and unaffected horror, o f individual rights violated— o f national laws
disregarded— o f justice abrogated, supplanted, trampled upon— o f civiliza­
tion outraged, and all the many changes that can be sung, chaunted, or
mumbled, “ in thoughts that breathe, and words that burn” — o f
“ Man’s inhumanity to man,
Making countless millions mourn” —

thinking to repulse thereby, at least retard, the majestic tread o f t h e
SPIRIT OF PROGRESS THAT IS ABROAD IN THE WORLD.
W e see more o f this— hear more o f it, here in our land, under our insti­
tutions, than elsew h ere; for this land is the chosen debouchere o f the G r e a t
S p ir it — our institutions the first perfect born offspring o f it that has risen
to the muscular strength o f manhood, and been gifted with the healthy,
vigorous, and resolute characteristics o f the great progenitor.
’i he Secretary o f the Treasury, in his annual report to the present C on ­
gress, truly remarks :— “ Indeed, when w e look upon the Am erican revo­
lution— the framing o f our constitution— the addition o f Louisiana, Florida,
T exas, and O egon— our ever-extending area, products, and population—
VOL. XVIII.----NO. III.
17




258

Progress.

our triumphs in w ar and in peace, w e must be blind to the past, and close
our eyes upon the fulfilling realities o f the future, if we cannot perceive,
and gratefully acknowledge, that a higher than earthly power still guards
and directs our destiny, impels us onward, and has selected our great and
happy country as a model and ultimate centre o f attraction for all the
nations o f the w orld.”
But the personification o f progress is not limited by the outlines o f one
government— not by the boundaries o f one nation— not by the oceanic
confines o f one continent. But it is an influence that is inherent with all
the organic, and controlling all o f inorganic ( if such there can be con ­
ceived) spirit and matter o f the universe. It is not dependent upon mere
human promptings, more than are the motions o f the planets, or their
poised and well-balanced relations with each other. On the contrary,
human w ill is but a secondary compound o f it— its servile and obedient
agent, moulded everywhere by its inscrutable laws, and lifted up higher
and higher by new illuminations, and new revelations from time to time,
making what has been accounted wisdom and demonstration, in times
past, palpable folly and laughable illusion now.
Such— no more— nothing different from this, was the mighty change
which this same spirit o f progress proposed, commenced, and is accom ­
plishing, in the dawning and establishment, as an intermediate agent be­
tween the past and present, and a determinate stage o f the future, o f the
Christian religion. Religions o f previous times, which, to the people that
entertained and lived by them, amounted to both wisdom and demonstra­
tion, have, under this “ new and better covenant,” become “ palpable folly,
and laughable illusion.”
Can we, however— ought w e, to be more confident in our present, that
it is the perfection o f truth— the immutability o f knowledge— the “ clear
and unquestionable” revelation o f justice, than w ere our predecessors in
other ages confident in their present ? Are w e more sincere— have we
more scorn, even, o f the past that lies deep and broad between them and
us, than they had o f that which was between them and prior a ges? Truly
■and truthfully has it been written, “ W ho knoweth what is good f o r mania
this life, all the days o f his vain life which he spendeth as a shadow 1 f o r
who can tell a man what shall be after him under the sun 1
P rogress is the order o f the day.
W e see the old doctrines— in
principle scarcely above a daguerreotype shadow o f the material walls
that have bound for unknown ages the people o f China to a system o f ex ­
clusiveness— which have, from time immemorial, as it were, shut out from
the British nation, and all its dependencies, the advantages o f free and
unshackled commercial intercourse with the world, suddenly give way, as
i f under the pressure o f an irresistible internal force, that at once stamps
its results with the permanency o f a natural law— o f a law which no suc­
ceeding politician, at the helm o f that government, w ill be either bold or
vicious enough to set again at defiance, with a view to reinstate a polityin the trade o f his people, that the humblest as well as the exalted citizen
would instantly denounce as a retrograde step from the onward and unalter­
able destiny o f man.
“ France,” says the Secretary o f the Treasury, in his before cited re­
port, “ Russia, Germany, Austria, Italy, Prussia, Switzerland, Holland and
Belgium, Denmark and Sweden, and even China, have moved, or are vi­
brating, or preparing to move, in favor o f the same great principle ; and




Progress.

259

i f our own country and Great Britain adhere to their present enlightened
policy, the rest o f the world must lose their com m erce, or adopt, as they
will, our example.”
This new commercial polity is an unmistakeable and ineffaceable foot­
print o f progress , upon the adamantine and antiquated policy o f Great
Britain— the most important in influence that has succeeded the hardwrought gift o f Magna Charta to her people ; emanating from the same
high origin, though the progenitor, as personified then, was but in the
gristle o f boyhood, in that island, compared with his present gigantic
proportions.
W e shall see more o f him there, ere long. W ho dare deny
that it is in the power, and that it may be the 'will, o f the great Architect
o f progress, to render famine itself a blessing in disguise 1
Behold Rom e ! aye, R ome— what is in the midst o f her people now ?
W hat influence, without the aid o f sword, or the conquest o f violence—
without revolution o f governmental constitutions, or tumults, has marched
boldly up to the very sanctuary o f her mystical religious rites and power,
and is there dashing in pieces the flinty tablets that have served to record
and perpetuate the still more flinty, and hitherto relentless laws, that have
for ages impressed the putridity o f stagnation deeply into the hearts o f her
people— imparting pain with every pulsation, and making the living crea­
ture called man, there, feel each pulsation o f life to be scarcely less than
an elongation o f the curse from which no resurrection to relief seemed
to be promised?
There, progress has, indeed, her appointed minister in Pius IX .— burst­
ing forth as •an advent o f Divinity, with the authority o f a sign manual
too authentic to be questioned, too mighty for resistance, too legible not
to be read with terror by all the enemies o f the Great Spirit everywhere,
as it is with joy* by all his devoted admirers. Even the darkened mind
o f the long outcast Jew is there— there, in the very home o f his utter
degradation, and immured beneath the heaped-up scorn o f the world for
centuries, is being sought out boldly, reached inspiringly, drawn forth, and
lifted up to some, at least, o f the glorious rights o f manhood and freedom;
and in his jo y and delight, is hurried up above the dark shadows and depress­
ing errors o f his own religion, and glories in becoming a soldier in spirit,
and a soldier in arms, for the defence o f this great and newly-installed
principle around him, called progress .f
* At an immense public meeting o f citizens, holden in the city o f N ew Y ork, on the
30th November last, to congratulate the Pope on the aid and zeal that characterizes his
administration in support o f p r o g r e s s , the following, among other spirited resolutions, was
adopted by a c c la m a t io n “ Resolved, That ‘ peace hath her victories no less renowned than war,’ and that the
noble attitude o f Pius IX., throwing the vast influence o f the pontificate into the scale of
well-attempered freedom, standing as the advocate o f peaceful p r o g r e s s , the promoter at
once o f social amelioration, industrial development, and political reform, unmoved by the
parade o f hostile armies hovering on his borders, hopeful for man, and trusting in God, is
the grandest spectacle o f our day, full o f encouragement and promise to Europe, more
grateful to us, and more glorious to himself, than triumphs on a hundred fields o f battle.”
(See also resolves o f the New Y ork legislature, subsequently passed.)
No less significant and complimentary is the following initiatory step taken in the open­
ing message o f the President o f the United States to the present Congress:— “ The Secre­
tary o f State has submitted an estimate to defray the expenses o f opening diplomatic rela­
tions with the Papal States. The interesting political relations in progress in those States,
as well as our commercial interests, have rendered such a measure highly expedient.”
t A late foreign arrival brings the following newspaper announcement:—
“ R e l i g i o u s I n t e l l i g e n c e .— Pius IX. a n d t h e J e w s — One o f the present Pope’s most
praiseworthy reformations has been in behalf o f this oppressed part o f the population of Rome.




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Progress.

And think you, reader, some conscientious, anti-progress reasoners—
some well-meaning, in their own esteem, and sincere minds there, do not
look with horror, and as on things sacrilegious, upon these innova­
tions ; even as you, perchance, may have done in times past, on events
dictated by this same influence, and which time has tested, and provfed
blessings disguised ?— nay, even, perchance, as you may now be regard­
ing other ends now aimed at nearer home than Rom e, or England, by this
same great influence, progress ? But how palpably impotent is re­
sistance !
Mark the improvement o f the age, almost the world over, on the sub­
ject o f the involuntary servitude o f man ! Is this a backward movement,
or is it the awakening influence o f progress ? Is the mere w ill o f man
at the bottom o f it ?
Although Texas was torn from out the side o f M exico by the admitted
impulses o f a no higher divinity than the common mind ascribed to the cu­
pidity o f man, that sought indisputably to make broader, and harder, and
render more enduring the bonds o f slavery, by the subsequent annexation
o f'h e r territory to the United States, have these acts so resulted prac­
tically, and thus disappointed the higher, the nobler, the more searching
purposes o f the r e a l D iv in it y of progress that presided over those
events? Not yet— not y e t! Annexation o f Texas to the United States
has no more proved to be the end o f the g r e a t m ovem ent , than was her
forcible separation from M exico; though the scheme o f the man-authors
o f both ended there, originally, with the words of progress upon their lips,
but with the interests o f slavery at their hearts.
W h o so blind as not now to see that this movement was commenced for
one purpose, by human calculation; but, by a higher impulse than human, for
a still different, far broader, and immensely nobler purpose, than an ex­
pansion o f the territorial area, and o f the political influence o f slave insti­
tutions ! W here the first ended, the other had comparatively but just be­
gan— so unequal is the stride o f human philosophy to a race with that
which is divine. Man, when seemingly at work in the pride o f his own
august conceptions, is but the agent o f a guiding influence which he com ­
prehends n o t; forming, as he does, only a single link o f chain that extends
far beyond his vision, and his knowledge. T he separation o f Texas from
M exico was but an episode— its annexation to this Union but a variation
o f that episode, in the great drama o f events which progress had in view,
They number about 8,000, and have hitherto been obliged to reside in an enclosed place,
called the Ghetto, on the north side o f the Tiber, entirely insufficient, and therefore mis­
erably crowded and unwholesome. The gates o f this enclosure were shut at sunset, and
a Jew found outside after this time, was imprisoned. They were, however, allowed the
privilege o f depositing goods for merchandise in buildings without the enclosure. Another
prohibition was, from the practice o f any o f the liberal or artistical professions. The Pope
has commenced examining into these and their other grievances, and has appointed a
commissioner to propose improvements. A s a consequence, the confinement of the Jews
to the Ghetto is already abolished, and other ameliorations are about to follow. Cardinal
Ferretti has avowed himself the patron and protector o f the Israelites. The Roman pop­
ulace have shown themselves worthy o f liberty, by the.cordiality with which they have
welcomed the accession o f this hitherto despised race to some of their own privileges.
Dinners have been given to them, and bodies o f artisans have visited the Ghetto to offer
their congratulations. The Jews themselves are full o f the most enthusiastic gratitude
toward their benefactor, and have sent a deputation to the Pope, headed by their Rabbi,

begging to be permitted to enrol themselves as a National Guard, armed at their own
expense, to join in the defence of the Papal Stales."




Progress.

261

and is now working out— tearing away, in its march, the artificial and
circumstantial proppings o f the doomed institution o f slavery, on the one
hand, and opening, on the other, a far vaster region than Texas, o f G od’ s
footstool, that has hitherto been shut up in ignorance and mental stupidity,
and prostrated by the physical debility incident thereto, to the influences
o f her own higher, active energies, and by which are being carried for­
ward the whole human race to perfectability o f enjoyments from COM­
MERCE, AGRICULTURE, MANUFACTURES, THE ARTS AND SCIENCES.
Far distant, in man’s vision, may be the full fruition so devoutly wished.
But who will say it is not in the power, or not worthy o f a benevolent
Deity ? And i f it be, shall it not come to pass ? Presumptuous, indeed, is
the denial o f it.
T h e end, all now admit, o f the war between the United States and
M exico, is not yet. This war is a marked era in the history o f progress, and
replete with instruction. W here— at what territorial line it will end, is as
dubious as the time when it will end. The man-power that started with it,
dreamed not— nay, had lifted not itself high enough, to wish its enlongation to either the time or place to which the master spirit o f progress has
already led it. And is there, in these admitted truths, find in this uncertain
reaching for results, no proof to the reflecting mind, that there is a power,
an influence, immediately commingling with the affairs o f men and na­
tions, superior to the will o f both, that we must consult, must study, if we
would know our own destiny— our own ends ? T h e history o f the sepa­
ration o f Texas from M exico, and o f her annexation to the United States,
as already adverted to, has obviously not been made by man, nor as man
had planned i t ; but only worked out by man to the present in deeds, and
written out by him on records; all under the control o f a power that has a
w ill independent o f him to f u lfil . And it is not in this single divergence
o f results from that which man-power had planned, that w e find the only
illustration o f a truth so interesting and momentous to our country, and
to the world. On the contrary, numerous past events, that were o f seem­
ingly but little meaning— o f but limited influence— that were even directed
by the apparently human projectors o f them, for very different results from
what ensued, have com e up anew, and are daily unfolding their new, and
hitherto hidden meaning, and are growing with the vigor and divinity o f
a resurrectionary principle, into forces o f the most august magnitude—
working out consequences in no wise originally conceived. From being
the mere inventions and agents o f man, in his individual or associated ca­
pacity, they are seen now — they must be now acknowledged, by all who
reflect, to have been, and still are, the servile and obedient handmaids of
that principle o f progress , which rises superior, in human affairs, to the
control o f human wisdom, or the reach o f human foresight. Let us pause
to sp ecify :—
1.
W hen President Monroe, in 1924, enunciated the principle to which
President Polk has now twice appealed, few minds appreciated either its
magnitude or solemnity— “ that no foreign power shall, with our consent,
be permitted to plant or establish any new colony, or dominion, on the
North American continent.”
Then, a population o f less than ten millions, all told, could be summoned
to the maintenance o f the declaration ; and then, events roused not to its
consideration one mind in one thousand o f the ten millions. Now, twenty
millions o f people stand ready to render homage to this sentiment o f na­




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P rogress.

tional grandeur, and sustain it by force o f arms. H a lf o f that number
are alive to its whole meaning ; and more than enough to drive an army
like that o f Alexander o f old into the sea— though he sighed, in the tri­
umph o f its power, for new worlds to conquer with it— are absolutely
eager to test the opportunity. This is the work o f progress — progress
in population— progress in mind— progress in politics— progress in com ­
merce, in manufactures— in all that elevates man to the true impulses, if
not yet to the true comprehension, o f his high destiny !
But who doubts that the Monroe principle, at this day, means the South
American continent, as much as, in the days o f its first conception, it meant
only the North? And the feeling o f it, as understood by our people now,
under the impulses o f progress, was only truly personified recently, by a
Yankee, glorying in his name, who was found wandering in some far nook
o f the Southern continent, and asked by an anti-progress thinker why he
did not return to his own country, and instinctively answered, “ What
would he the use, since, by waiting a little while, my country will be here to
me ! ”
2. W hen the administration at Washington gave orders to General
Taylor to advance his numerically meagre forces to a position on the R io
Grande, although collision with the M exicans, as was seen, might be
the consequence, the movement was honestly calculated to hasten, not re­
tard, negotiations between the two governments. So the President, and
so the commanding general, understood and meant the proceeding. And
yet, who does not now see that the ends o f the hero-divinity, progress ,
were not to be thus consummated nor foiled ? but, where man sought an
end, it sought and achieved only a new chapter in the great movement
that had momentarily paused over the annexation o f T exas.
3. W hen President Polk courted, by an official “ pass,” the return o f
Santa Anna from exile, to take command o f the distracted energies o f
M exico, he supposed it to be an auxiliary movement to the cause o f pro­
gress, as he understood that cause— that it would hasten peaceful negotia­
tions— leave Texas in quiet annexation to the United States, and slavery
inseparably engrafted upon her bosom.
But the real majesty o f the Divinity at work in this event, was to Mr.
Polk as little known as the true God o f the Israelites was in olden times
to the Gentile world. And the mistake o f the President may now be
clearly seen by the commonest intellect, in his supposing, at the time, him­
s e lf to be the controlling power o f the onward movement towards M exico,
when, in fact, he was but an obedient circumstance, both in his person
and position, to the working out o f a problem far greater than his own
comprehension had yet understood— the problem o f progress .
T h e consequence o f that “ pass” was— the very antipode o f the con cep­
tion o f the man-power that gave it— to arouse in M exico, by the presence
o f Santa Anna, a spirit, and hope, and energy, such as he only, by his
presence, could have excited.
General Quitman, in writing to a friend in the United States, by letter,
dated “ National Palace, M exico, October 15th, 1847,” says— “ O f the pop­
ulation o f this city, one hundred thousand are leperos, with no social tie,
no wives, no children, no homes. Santa Anna was the only man who
could, even f o r a time, keep together the rotten elements o f his corrupt gov­
ernment.”
Through Santa Anna, has been summoned new, and oft-renewed resistance




P rogress.

263

to the representative armies o f the great principle o f progress, that looks
calm ly forward to nothing short o f the full possession, ultimately, o f this
entire Western hemisphere, by the enlightened dominion o f the AngloSaxon race.
And now, though these armies have been, since Santa
Anna’ s return, drawn by seeming necessity from point to point, even to a
capture o f the proud capital o f the adversary— the once gorgeous palaces
and joyous halls o f the ill-fated Montezuma— peace, the promised end o f
each successive step, still eludes the grasp o f the pursuer with almost
tantalizing coquetry ; and, instead o f confessing subjugation by an unbro­
ken continuity o f calamities, the hearts o f the Mexican people, like so many
l’ haraohs, appear to gather new obstinacy from them, under the en­
couraging appeals o f their chivalrous general, the Am erican President’ s
misunderstood instrument o f peace.
4.
The anti.progress minds within the United States— mostly in party
politics pertaining to the opposition— with zeal and sincerity, and some
with self-sacrificing devotion, denounce the progress principle that has
been wrapt up in this war, as impolitic, unjust, wicked, and barbarous.
T h e pulpit has been, in places, inflamed by the enthusiasm o f earnest and
sincere prayer for the aversion o f heaven’ s vengeance from our land and
people, on account o f a national sin declared to be so heinous— as i f both
land and people w ere really obnoxious to such vengeance— or, i f so, that
heaven would hold back from doing justice to its own holy impulses, for
the sake o f showing mercy to obstinately persisting and victorious offenders!
A clergyman at the capital o f Maine, is reported to have read the entire
book o f Lamentations to his congregation, on the late annual day o f thanks­
giving, instead of, or additional to the usual sermon, in token o f his horror
o f the continuance o f the M exican war, and in rebuke o f the executive o f
the State, who, in his proclamation, had significantly dissented from this
sentiment o f priestcraft.
N ow , who doubts— who can doubt, that these outpourings o f holy horror
at the war, by a confessedly large and influential, intelligent and wealthy,
and, for the most part, well-meaning class o f our people, and the incessant
reiteration o f them in the ears, and to the understandings, and predisposed
obstinacy o f the enemy, have a powerful tendency to protract the w ar—
to set peace at a greater distance— to render an exertion o f our national
pow er upon an enlarged scale, with aggravated expenditures o f money and
life, both certain and indispensable 1 Nay, more— that it converts the
w ar from one o f mere indemnity for original injuries, into one o f progress­
ive conquest o f territory, even until not a foot o f M exican soil shall be
free from the conquering tread o f our people, and into one o f permanent
annihilation o f the M exican government, so that her nationality shall be
blotted out utterly from the list o f the age ? That this is so, let us only
refer W h ig readers to proofs which may be found in the published corres­
pondence o f W h ig officers o f the army, who are upon the spot in M exico,
and obliged to contend with the influences that exist there.*
* The following is an extract from a published letter written by Colonel W ynkoop, of
Pennsylvania, who is still in the service o f the United States army in Mexico. The letter
hears date, “ Castle o f Perote, September 9th, 1847,” and tells its own story o f his politics
when at hom e:—
“ This is hard, laborious, and precarious service. Many o f our best men have died, and
I truly consider the climate, in itself, a much more formidable enemy than the Mexicans.
A noble and self-denying spirit o f endurance actuates the men, and complaint o f any kind




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P rogress.

And is not this consummating the work o f progress through the very
agents who are delusively offering up, at the same moment, ineffectual
prayers against it? T h e Jew^s who crucified the Saviour, supposing they
were therein crushing a hydra o f treason against their government, and o f
infidelity to their religion, worked out a problem exactly the reverse o f
their intentions. But the apology for them is, they knew not what they
did, and could not alter the result. N ow , it seems to us, that with like
zeal, and no less sincerity, although they have not a Jesus to crucify, many
minds in our day, o f our own land, are winning positions to themselves in
the same category with the deluded Jews o f old, by the misjudged policy
they are pursuing respecting the war. Without meaning it, they are
working against both their own country and M exico, instead o f for
both.
In view o f illustrations so indisputable in their facts— so positive in their
tendencies, the question presses itself upon the earnest mind, what is t h e
pow er , in its essence— by what name shall we call it, if not that o f pro­
gress— undying, far-reaching, endless progress, that is thus directing all
the agencies that are being employed— irrespective o f the side, or local,
or national, or political, or religious party from which they emanate— both
those for, and those against the war, to ends so very different from, and far
beyond the designs o f the man-power authors o f them ?
W e have seen, wrhether President Polk directs General Taylor to the
destruction o f the M exicans, or directs General Santa Anna to the pre­
servation o f the Mexicans ; or whether WThig or Democrat, priest or lay­
man, denounces the war with the zeal o f infatuated peace-makers, the
is rare. Contented to do their duty, they risk everything in the effort, and with a cheer­
fulness which is gratifying to those who command, step up readily to any work, no matter
what the chances. It is, as I have before remarked, a hard service, full of toil, privations,
and danger; but it is willingly encountered, and bravely endured. Judge, then, o f the
effect upon our good men here, when they look back over the distance which separates
them from their friends, in an effort to find at home some proper appreciation o f their selfsacrificing conduct f It is bitter and humiliating. I tell you, sir, there is a spirit abroad
among the g o o d Americans engaged in this war, which will not sleep during futurity— a
spirit which awaits but their return to thunder down upon the mouthing, scribbling sycophants
o f a most unjust party, the full measure o f an honest indignation. It is the same that
brooded over our land during the war o f the revolution, and the last w a r; and men o f the
present day, palsied with age, have lived to curse, with tears o f repentance, the hour when
she, with scornful finger, marked them for life as the T o r i e s o f their country. W e , h e r e ,
can see no difference between the men who in ’ 76 succored the British, and those who in
’47 gave arguments and sympathy to the Mexicans. This kind o f language from a man
who came into this campaign a W hig in policy, may sound strange to you : but I have
again and again been compelled to listen to, and to suffer that which would have changed
the disposition and alienated the affections o f the most determined partisan. Even now ,
I do not object to the leading and main principles o f my old party, so much as I curse and
deprecate the tone o f its acknowledged leaders and supporters. I f there is any reason
which will prevent General Scott from effecting an honorable peace, commanding, as he
does, the whole city o f the Aztecs, with his powerful battery, it is the spirit o f treason*
which I unhesitatingly say is promulged by the leading W hig journals at home. In a sortie
upon some ladrones o f Jalapa, a short time since, I possessed myself o f all the late news­
papers published in that place ; and, upon examining them, I find that, in that place, same
as in M exico, the strongest arguments published against our army, are selections from
W hig papers in the United States. I send you a late copy o f the “ Boldin de K otin a s”
in which you will perceive that the first article is an extract from the National Intelligencer,,
Your friend,
F. M. W ynkoop.
“ Y ou may publish this, i f you please. I have become so disgusted with what I have
seen, that I have no care for the consequences which this kind o f truth may produce.”




P rogress.

265

sooner to consummate the end o f i t ; or whether the administration seeks
to purchase peace by persuasion, in the sending o f a special commissioner
as a constant appendage to its invading armies ; or by corrupting,* with
money— an infamous strategy, by-the-way— the chiefs o f the opposing
arm ies; the resulting influence o f each effort is alike to make broader,
and deeper, and render still more insatiate, the gulf o f annihilation that is
now visibly yawning upon the nationality o f M exico.
Surely, there are, in these things, proofs that cannot be laughed down—
admonitions that cannot be scoffed out o f sight, that man here is not the
principal, however proudly he may claim to be so ; but, in whatever po­
sition he may place himselfj or be placed, he is the agent o f a power, o f
an influence, o f a steadily guiding and uniformly ascendant principle, which
it becom es him well to stud}', to consult, and to comprehend so far forth as
it shall be found comprehensible. It is the hero-divinity o f the age. It
is that
“ -------— divinity that shapes our ends,
Rough hew them as we will.”

It is a divinity far above accidents— a divinity that has no half-way
measures— no broken line o f results to accomplish, though it may “ in
m ercy temper the winds to the shorn lam b.”
All its workings point unmistakingly to a dedication to freedom, to science, and the arts, enlightened
agriculture, and com m erce, to exalted human advancement, and popular
dominion, o f all this W estern hemisphere. It may be, that in this single
struggle with M exico, all that portion that is now desecrated to Mexican
ignorance, and its accompanying wasteful impotency, shall not be disen­
thralled. But human hope, inspired by such causes and such results as
we have adverted to, cannot seek a brighter or surer harbinger o f the
ultimate consummation o f its broadest expectations, than the now certain
commencement that has been made by the redeeming power o f pro­
gress.
W hat shall remain unredeemed by force o f conquest now, w ill bide only
its time, and yield then, perhaps, as w ell from choice as necessity. N or
w ill the wave stop, while a counter billow is thrown up to obstruct the
clear vision beyond, until the southernmost shore o f Cape Horn rejoices
beneath the benign influence and protection o f the floating stars and stripes
o f freedom’s banner— then to be the first, and last, and only national ban­
ner o f this W estern hemisphere !
T here may be those who, contemplating only the teachings o f right and
wrong, as necessarily viewed, and necessarily applied, within the narrow
confines o f personal and individual relations, or o f local and temporary
interests, and bringing down the scale o f Divine purposes merely to an
admeasurement o f these limited ends, truly persuade themselves that the
strides o f progress herein shadowed forth, amount to sins o f startling
enormity— wrongs, on a national scale, o f monstrous turpitude, meriting
* W e have never seen a contradiction o f the statements o f a letter published in the St.
Louis Republican, dated Puebla, Mexico, August 6th, 1847, and republished in many o f
the American papers, touching the use o f the $3,000,000 fund, in bribing the Mexican
leaders into a peace. It alleged that a council o f war was holden on the 17th o f July last,
at which were assembled Generals Scott, Pillow, Quitman, Tw iggs, Shields, and Cadwallader, and that the scheme was defeated by the indignant denunciations of General
Quitman.




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P rogress.

the execration o f man, and the blasting furies o f Omnipotent vengeance,
l e t , do we not forget—
“ W e only know that God’s best purposes
Are oftenest brought about by dreadest sins.
Is thunder evil, or is dew Divine ?
Does virtue lie iu sunshine, sin in storm?
Is not each natural, each needful, best?
How know we what is evil from what good?
Wrath and revenge God claimeth as His o w n ;
And yet men speculate on right and wrong
A s upon day and night, forgetting both
Have but one cause, and that the same— God’s will,
Originally, ultimately Him.
*

*

*

*

*

*

Y et wrongs are things necessitate, like wants,
And oft are well permitted to best ends.
A double error sometimes sets us right.”

Indeed, there is often a wide difference between the teachings and
prejudices o f the schools, and o f society, and those o f experience and o f
nature, and especially those o f examples that are, by the common ad­
mission o f mankind, called o f Divine origin. For illustration :—
W hen Joseph was sold into bondage for a paltry consideration, by
brothers out o f the same father’s loin s; and when these brothers, to con ­
ceal their conscious villainy-, lied most cruelly to their anxious father, re­
specting the fate o f Joseph, is there a mind, or heart, looking only at the
naked act, and personal relations o f the parties, unstartled by the bar­
barity o f the ca se? Yet, contemplating it as it now stands revealed, in
the character o f a providential plan for consummating a new era o f pko guess , in the knowledge, condition, and in the mental, moral, and political
improvement o f a benighted nation ; and finally, in blessings that the
whole posterity o f a chosen people have, to this day, been enjoying, who
dares ionger to try it by the narrow rules o f personal right and wrong,
or denounce it as an oflence in the sight o f heaven ? T h e brothers meant
it for evil, “ but God meant it for good.”
W h en the H ebrew midwives uttered a cunningly devised falsehood to
the king o f Egypt, respecting their omission to put the male children o f
the Israclitish women to death, and in betrayal o f the polity that the king
deemed essential to his government, does the conscientious casuist find an
excuse for them, until he looks to the higher, and before hidden purposes
which Deity had in “ dealing well with the midwives” for this act o f ad­
mitted perfidy, and subsequent falsehood ?
R ecu r but to the awful disasters with which M oses smote the land of
Egypt, during his intestine war against Pharaoh— turning the rivers ofth e
whole kingdom into blood— making blood, also, o f their streams, ponds,
and pools, and o f all water that was in either vessel o f wood or stone, so
that the fish died, and the water everywhere “ stank,” and no drink was
to be had— covering the land with frogs, converting the dust into lice,
swarming every habitation with flies, destroying all the cattle by insidious
disease— smiting the whole land with thunder, and fire, and hail, so that
all in the fields, man, beast, and herb, w ere alike smitten, and every tree
broken — covering the earth with locusts, so ravenous that not any green
in the trees, or herbs throughout the land, were left— filling the land with
a darkness so dense that the afflicted people “ saw not one another, neither
rose from their place for three days” — and at midnight murdering the first­




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267

born o f every living creature o f the Egyptian nation, “ from the first-born
o f Pharaoh that sat on his throne, unto the first-born ofthe captive that was
in the dungeon, and all the first-born o f cattle,” so that “ there was not a house
where there was not one dead.” With this catalogue o f barbarities inflicted
upon a nation by one man, who is not prompted to exclaim against it, and
denounce the man so inventive o f hellish resentments a very devil in­
carnate ?
Hut, mounting to a higher strata o f principles— comprehending the revelation o f Divine Providence in the enunciation made to Moses, “ For this
cause have I raised thee up, f o r to show in thee m y p o w e r ” — then it is that
the scales o f short-sighted and precipitate human judgment fall from our
eyes, and we enlist our sympathies in the cause, and to the forgiveness o f
the before-supposed malefactor. These extremes o f cruelty are thence­
forward understood by a totally different standard ; and even Pharaoh, who
so hard-heartedly persisted in exposing his people so many times over to
new tortures, is seen to be also, on the other side, but an instrument in
the hands o f the same Master Divinity o f the scene, and we no longer crim­
inate him. M oses and Pharaoh struggled, at the sacrifice o f many an
innocent life, from antagonistical points, in olden times, yet to work out
one and the same favorite end o f progress and o f divinity. And who will
madly persist, that President Polk, and the indomitable, unyielding gen ­
eral o f the M exican people, are not like humble instruments, working fro m
like opposite extremes, each more or less in the presumption o f human pride
and power only, to the accomplishment o f one and the same grand result,
which is the chosen purpose o f the inscrutable way's o f the undying master
spirit o f progress 1 Be it said that innocent lives are the price— that seem­
ing wrongs, and national outrages are the consequence— do these alter
the teachings o f the past? May not the world yet hear, enunciated dis­
tinctly, as from on high, to our onward nation, “ F or this cause have I
raised thee up ?”
W e might multiply proofs o f our theory— proofs, too, o f the utter insuffi­
ciency o f the rules o f right and wrong, as derived from mere local or per­
sonal relations, to measure the moral character o f agencies and events,
that are clearly traceable to higher emanations, however they may bear
upon individuals, or even a whole race o f men. Else, why is it that, giv­
ing way to the Anglo-Saxon and Norman races, the race o f the red man,
comparatively innocent, as isolated in respect to all the world, has been
sufilued nearly to expire, and alike under the force o f destructive and o f
conservative provisions for them ?
Or, superadded to all the significant overrulings f o r the destruction o f
the M exican arm ies; o f all the influences that w ere designed for the co n ­
trary effect, to which the attention o f the reader has been called, as well
as o f all those that w ere designed expressly for that end, why is it that, in
eveiy conflict between our people and that people, our armies and their
armies, that has yet taken place, irrespective o f the odds o f numbers, po­
sition, or other advantages in favor o f the latter, victory has uniformly fol­
lowed our standard, and exalted our name ? “ I will not repeat,” writes
a gallant general, in the fray o f taking the city o f M exico, “ what, no doubt,
ere this, yTou have been wearied o f reading— how this gallant army o f
9,000 men descended into this valley', broke through a line o f almost impregnable batteries— in four battles defeated an enemy o f 35,000— took
more than 100 guns, and 4,000 prisoners, and erected the “ glorious stars




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and stripes” on this palace, where, since the conquest o f Cortez, no stran­
g er banner had ever w aved.”
A civilian, witnessing the same scene, says :— “ It is still difficult to
account for the fact that we are here— here, in the great capital o f M ex­
ic o — not the 22,000 paper men o f the Union, but what is left o f the 10,000
real men by whom the work o f subjugation has been accomplished. The
whole seems like a dream, even to those who have taken part in the hard
conflicts— yet here in M exico we are, and masters. After a succession
o f battles, each one o f which may be counted a forlorn hope— after a suc­
cession o f victories, each one o f which was obtained over an immensely
superior force— after formidable works, each one o f which seemed impreg­
nable, have been stormed and successfully carried— here, amid the “ Halls
o f the Montezumas,” the numerically insignificant band o f Anglo-Saxons
has found a partial rest from its toils and its dangers, a breathing-place
after its innumerable trials and perils. Nor do the chronicles o f ancient
wars, nor the prowess o f modern achievements, furnish a parallel to the
second conquest o f M exico, while the lustre which hung around the name
o f Cortez and his hardy adventurers, burnished by the glow ing description
o f Prescott, becom es dimmed by the deeds o f these latter days.”
Is there no longer a G od o f battles?— a ruler o f nations, as well as o f
m en? And i f there be such still, as there has been believed to be in
other days, may not he have purposes to fulfil in the conflict, far and high
above the purposes that may be weighed by the narrow rules o f meum
and tuum, that pertain to mere personal chattels, or to individualities?
T h e error that fastens upon the general judgment, in respect to the
morale o f movements o f a broad character, like that o f the Mexican war,
consists in beginning the mind’ s analysis at some agent who is interme­
diate o f the great first moving influences o f the same, and o f the great re­
sults to which they are irresistibly tending, and ending it with some
like intermediate consequence o f his act— necessarily applying to these
the narrow rules o f mere personal relations, conduct, and consequences.
A s well might a critic arrive at a just conception o f the character o f an
elaborate poem, by testing only the merits o f some anecdotal episode, ac­
cording to the rules o f w it; or o f Milton’s Paradise Lost, by some vigor­
ous sentiment put into the mouth o f Satan, exhibiting him even nobler,
and more in the right, according to the ordinary rules o f right and wrong,
than the Almighty him self; when, by a different presentment o f the pre­
mises— by taking a wide and expansive view, that commands what has
preceded, as well as what is present, and what is to follow, as far as this
can be conceived, exactly the reversed conviction would take possession
o f the mind, and commend itself to the heart o f the wisest and best.
T h e lives o f the destroyed cannot be recalled, though the war w ere at
an end, nor by any end that can be given it. The oft patched-up govern­
ment o f M exico, if reinstated over the conquered territory, obviously can
have no permanency. For years before the war, it had none. The
morale o f her people is no longer equal to the illuminations which progress
have already imparted to the people o f the United States ; and relations
o f amity between them and us can have no permanent hold upon an en­
during polity o f that people, whose every annual sun is made witness o f a
civil revolution, or o f the subjugation o f one military despotism by another,
w herein the lives, persons, and property o f the masses, are trampled into
the dust. Shall powerful com m erce— shall expanding manufactures— shall




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269

industrial pursuits, that ennoble man, and make the world rich, be shut out
from so fair a portion o f creation, when the opportunity is opened for a
permanent establishment o f them all throughout that land? W h y not re­
linquish back to the Indian races the hunting-grounds that o f old supported
their necessities, and administered to their sports, if there be not in the
innovations o f progress, that have built up in their stead so many cities
and work-shops, a higher view o f happiness to man, and o f honor 16 his
Creator ?
Does any man seriously believe that M exico, whether making a part
of, or subjugated to the United States, would not be better governed, and
happier in all its social, com m ercial, and industrial interests, than can be
hoped for it if left to the forlorn chances o f renewed M exican dominion ?
or that the whole world, affected through commercial interests, more or
less, and for good or for evil, according as the social and commercial
standard o f M exico shall be elevated or depressed, would not be a gainer
by the spread o f the great segis o f the United States government over it?
I f there can be no affirmative given to these queries, it is difficult to see
why the less evil, the less wrong, if so it be called, should not be borne,
should not be consummated, rather than the greater ; nor why the over­
ruling purposes o f heaven should not be manifested truly in the spirit o f
progress, that is now so unerringly and mysteriously directing every hu­
man agency that mixes with this movement, however or on whatever
side such agency be started, to precisely such a result.
T h e reader will observe that, in this article, w e have not attempted
any analysis o f the acts o f either our own government or o f the M exican
government, with a view to criminate the one or vindicate the other, with
reference to their political relations, rights or wrongs towards each other,
down to the period o f actual hostilities. W e have purposely avoided con ­
sidering by whose act the \far exists, according to human testimony or
observation. Our aim, so far as the M exican war has been drawn into
our illustrations, has been, as without it, to call attention to the steadily
working o f a principle called progress, which day by day is broadening
itself to the understandings o f man, and manifesting itself in results o f the
deepest concern to human welfare. In fact, it is becom ing a principle o f
such frequent and familiar recognition, that, let what may occur, men begin to see in each event something higher than mere accident,* and set
themselves down to a study o f the great system w hich evolved it, and the
existence o f which, upon fixed laws, all begin to believe in, even though
admitted to be, as yet, beyond their comprehension. Statesmen appeal
to it— philosophers acknowledge it— theologians, though the slowest to
rise above the narrow views o f antiquated priestcraft, under the mistaken
conception that knowledge which casteth out fear is calculated to circum ­
scribe the influence o f their order— even they are studying it with an en­
larged comprehension. These are the true signs o f the good , as w ell as
the great influences over the minds o f men, o f progress in our day.
* “ Accident, properly considered, never discovered any philosophical principle. The
minds o f philosophers had been ripening for fifty years for Volta’s discovery; and the
twitching o f the frog’s legs, like Newton’s apple, was only the spark which fired the train
that had been long laid.” — P rofessor B. Silliman, Jr. (See also Hon. D. W e b s t e k ’ s late
speech at the opening o f the railroad at Lebanon, N. H . , and Bishop H o g u e s ’ sermon a t
the U. S. Capitol, on the 12th o f December last.)




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The Seat o f Government o f the United States.

Art. III.— THE SEAT OF GOVERNMENT OF THE UNITED STATES.
chapter

in.

E M B A R R A S S M E N T S A N D R E M E D I E S — W A S H IN G T O N ’ S L E T T E R

T O T H E G O V E R N M E N T OF M A R Y L A N D , A S K ­

IN G FO R A L O A N — H IS D E A T H — O C C U P A T IO N O F C I T Y B Y G O V E R N M E N T A N D C O N G R E S S , A N D A D D R E S S E S
ON T H E O C C A SIO N — C A U S E S

W H IC H R E T A R D E D T H E

GROW TH

OF T H E C I T Y — F A I L U R E

OF C O N G R E S S

T O C O M P L Y W I T H P R O M IS E S , A N D M IS A P P L IC A T IO N OF FU N DS R E C E I V E D F R O M L O T S — L O T T E R Y D E B T —
C H E S A P E A K E A N D O H IO C A N A L — E X P E N D IT U R E S B Y T H E C IT Y ON IM P R O V E M E N T S — V A L U E OF P R I V A T E
A N D P U B L IC P R O P E R T Y — S H O U L D T H E N A TIO N P A Y T A X E 3 7— I M P O L IC Y OF A C IT Y C H A R T E R — C O M M IS ­
S IO N E R OF P U B L IC B U IL D IN G S .

I t was not without the most untiring exertions on the part o f General
Washington, that sufficient means were obtained tor the completion o f the
public buildings by the time specified, (1 8 0 0 .) An immense pile o f cor­
respondence carried on by him with both public and private individuals,
up to the very close o f his life, attests the intense interest which he took
in whatever pertained to the establishment and prosperity o f the city.
Many o f these letters relate to the progress o f the public buildings, espe­
cially the capitol, to the prompt completion o f which he seems to have
looked as an event almost ominous o f the permanent establishment o f the
government at this place. Virginia had made a donation o f $120,000,
and Maryland one o f $7 2 ,0 0 0 — these were now exhausted. After various
efforts to raise money by the forced sales o f public lots, and after abortive
attempts to borrow money at home and abroad, on the cr edit o f these lots ;
amidst general embarrassment, whilst Congress withheld any aid whatever,
the urgency appeared to the President so great, as to induce him to make
a personal application to the State o f Maryland for a loan. Nothing can
exceed the characteristic force with which it is written, or more strikingly
exhibit the imperative necessity which overruled all etiquette and form ;
for it seems that the Attorney-General had expiessed some doubts as to
the propriety o f such a letter, it not having been usual for the President
to correspond, but by the channels o f certain officers, who, in this instance,
would be the Commissioners.

George Washington to Ills Excellency, J. H. Stone, Governor o f Maryland.
P hiladelphia, Dec. 7th, 1796.

Sir— The attempts lately made by the Commissioners of the city of Washington
to borrow money in Europe, for the purpose of carrying on the public buildings, hav­
ing failed or been retarded, they have been authorized by me to applv to your State
for a loan of one hundred and fifty thousand dollars, upon terms which they will
communicate. Such is the present condition of foreign nations with respect to
money, that, according to the best information, there is no reasonable hope of ob­
taining a loan in any of them immediately, and application can now only be made
in the United States upon this subject with any prospect of success, and perhaps
nowhere with greater propriety than to the legislature of Maryland ; where, it
must be presumed, the most anxious solicitude is felt for the growth and pros­
perity of that city, which is intended for the permanent seat of government for
America.
If the State has it in its power to lend the money which is solicited, I persuade
myself it will be done ; and the more especially at this time, when a loan is so
indispensable, that, without it, not only very great and many impediments must
be induced in the prosecution of the work now in hand, but inevitable loss
must be sustained by the funds of the city, in consequence of premature sales
of public property. I have thought I ought not to omit to state, for the informa­
tion of the General Assembly, as well the difficulty of obtaining money on loan,




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271

as the present necessity for it; which I must request the favor of you most re­
spectfully to communicate.
T h e application was successful, and the State o f Maryland, while com ­
plying with the personal request o f the President for a loan, passed reso­
lutions in testimony o f their high regard for Washington himself. T h e
amount loaned was $100,000 ; and it exhibits the deplorable credit o f the
general government, at that time, when a State called upon the private credit
o f the Commissioners, as an additional guarantee o f the repayment o f the
loan.
General W ashington did not, however, live to see his wishes fulfilled.
H e died on the 14th o f Decem ber, 1799.
T h e Commissioners reported that the public buildings would be readv
for the reception o f the government in the summer o f 1800. Accordingly,
the executive offices were, in the month o f June in that year, removed
thither from Philadelphia, and Congress commenced its session there on
the third Monday o f November following. On this occasion, in his opening
speech, President Adams said :— “ I congratulate the people o f the United
States on the assembling o f Congress at the permanent seat o f their gov­
ernment ; and I congratulate you, gentlemen, on the prospect o f a resi­
dence not to be exchanged. It would be unbecoming the representatives
o f this nation to assemble for the first time in this solemn temple, with­
out looking up to the Supreme Ruler o f the universe, and imploring his
blessing. It is with you, gentlemen, to consider whether the local powers
over the District o f Columbia, vested by the constitution in the Congress
o f the United States, shall be immediately exercised. If, in your opinion,
this important trust ought now to be executed, you cannot fail, while per­
forming it, to take into view the future probable situation o f the territory,
for the happiness o f which you are about to provide. You will consider
it as the capital o f a great nation, advancing with unexampled rapidity in
arts, in com m erce, in wealth, and in population, and possessing within
itself those resources, which, if not thrown away, or lamentably misdi­
rected, will secure to it a long course o f prosperity and self-government.”
T h e Senate, in their reply, said :— “ W e meet you, sir, and the other
branch o f the national legislature, in the city which is honored by the
name o f our late hero and sage, the illustrious Washington, with sensa­
tions and emotions which exceed our power o f description.”
T h e House o f Representatives, in reply, said :— “ T h e final establish­
ment o f the scat o f national government, which has now taken place in
the District o f Columbia, is an event o f no small importance in the politi­
cal transactions o f our country. N or can we on this occasion omit to ex­
press a hope that the spirit which animated the great founder o f this city,
may descend to future generations ; and that the wisdom, magnanimity,
and steadiness, w hich marked the events o f his public life, may be imi­
tated in all succeeding ages. A consideration o f those powers which
have been vested in Congress over the District o f Columbia, will not
escape our attention ; nor shall we Ibrget that, in exercising those powers,
a regard must be had to those events which will necessarily attend the
capital o f Am erica.”
W e have thus traced the history o f our national capital up to the period
o f its first occupation. It must be confessed that the city has not pro­
gressed in the rapid ratio which its founders so sanguine!}' predicted. A l­
though they may not have anticipated anything to compare with the mag-




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nificence and luxury which in many o f the European courts have almost
sufficed to build up a city, yet they probably overrated the attractions o f
the government and Congress. And these, indeed, are sufficient to have
drawn together a much larger population o f the retired and wealthy o f
other cities to reside there, for at least a portion o f the year, had Congress
complied with its promises, so readily made at its first session, in carry­
ing on a large and judicious system o f improvements, so as to have made
it a more attractive residence. Had they caused public grounds, con­
necting the capital and President’ s house, to be planted with trees,
and suitably enclosed and protected, instead o f confining all their expen­
ditures to the immediate vicinity o f the executive and legislative offices,
and leaving the remainder a comparative waste, the city would have pos­
sessed a much more inviting aspect to strangers; the scattered villages
would at this time have been connected by a park, and inducements to
build and improve would have been greatly increased. There has been
money enough expended here to have accomplished this, and many other
improvements ; but it has been dealt out injudiciously, or in driblets, so
that public works haxre cost much more than there xvas any occasion for,
by repairs and delay.
T h e subject has been several times taken into consideration by com ­
mittees o f Congress, and the claims o f the city acknowledged. From
these sources w e have compiled the principal causes Which have im­
peded the growth o f the place, and which suggest the remedy :—
“ The plan of the city is one of unusual magnitude and extent; the avenues and
streets are very wide, and, for the number of the inhabitants, much greater in
distance than those of any other city on this continent, and necessarily require
a proportionate expenditure to make and keep them in repair ; and, as the city
has not grown in the usual manner, but has necessarily been created in a short
space of time, the pressure for the public improvements has been alike sudden
and burdensome.”
W e have seen that the proprietors o f the land conveyed the whole o f it
to government for the purpose o f establishing thereon a national city, a c ­
cording to such plan as the President might adopt. A plan was accord­
ingly made by government, without consultation with the settlers, cre­
ating avenues and streets 100 to 100 feet wide, and embracing an area
o f 7,134 acres. O f these 7,134 acres, government retained as reserva­
tions 4,118 for streets, avenues, etc. ; paid the proprietors but for 512, at
the rate o f JE25 per acre, and returned to them half o f the building-lots,
(1,058 acres ;) thus keeping 5,114 acres as a free g ift; the proceeds o f
the sales o f which building-lots, it was understood by the proprietors, xvere
to be applied towards the improvement o f the place— in grading and ma­
king streets, erecting bridges, and providing such other conveniences as
the residence o f the government required. 'The right o f soil in the streets
was exclusively vested in the government, and it was but a fair and rea­
sonable presumption that the government would bear a large portion o f
the expense o f opening them. W e have seen that it is a plan calculated
for the magnificent capital o f a great nation, but oppressive, from its very
dimensions and arrangements, to the inhabitants, if its execution, to any
considerable extent, is to be thrown upon them. “ N o people,” says Mr.
Southard,* “ xvho anticipated the execution and subsequent support o f it
* See Southard’ s Report, 23d Congress, 2d Session, February 2d, 1835, and the letters
o f Mr. Jefferson appended thereto.




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273

out o f their own funds, would ever have dreamed o f forming such a plan.”
T h e expense should at least he joint. T his is more especially true in regard to the great avenues ; the main object o f which was to minister to
national*pride, by connecting the public edifices with streets worthy o f the
nation.
T h e early action o f the government and its agents is believed to have
been in conformity to this principle, but the government has not hereto­
fore borne anything like its relative proportion. By a report made to the
Senate by the Commissioner o f Public Buildings, D ecem ber 15th, 1845,
it appears that there had been received up to that period $778,098 13
from city lots. A much larger sum might have been received, had the
lots been sold in less haste, and not in so great numbers. Much the larger
number w ere disposed o f prior to 1794 ; and the interest ought to be
added up to the time o f each appropriation for the streets and avenues, in
order to arrive at a correct estimate o f the amount due from government
on this account, which would make it nearly double that amount. Out o f
this, there has been expended on streets and footways, about $2 75,000.
(T h e Commissioner states it at $503,000 ; but this is understood to in­
clude the Potomac bridge, which is not properly a street, bridge, or avenue
o f the. city .) T h e greater part o f this has been expended on one avenue ;
$7 0,00 0 has been given to colleges and charitable institutions; $25,000
o f which was to a college out o f the city. T h e appropriations to literary
institutions, and for the jail, penitentiary, and court house, are no more
than what Congress has granted to every territory in the Union, and ought
not properly to be included in this account; so that, without computing
interest for the time the money has been in the treasury, there yet re­
mains due to the city about $500,000.
Another cause o f the, slow progress o f the city, has been the unfortunate
result o f one o f those lottery schemes, to which it was formerly fashionable
to resort for the purpose o f erecting public buildings. In this instance,
the object was to build a city hall and court-house. ; but, instead o f adding to the funds o f the city, a debt o f nearly $209,000 was contracted.
It may be here remarked, however, that such a building has been par­
tially erected, at an expense o f $90,000. T h e government has, since the
year 1823, occupied about one-half o f this edifice for a court-house, and
has given $10,000 toward the cost— less than has been appropriated in
most other territories for the same purpose. An additional reason, if any
w ere wanting, why the United States should contribute largely to this
purpose, is, that a large proportion o f the business o f the courts, which
calls for extra accommodation, grows out o f suits in which citizens o f other
States are concerned, and not o f the. local business o f the place.
But the greatest drawback upon the prosperity o f the city, has proceeded
from one o f those schemes o f internal improvement which have involved
so many States o f this Union, and in which the city was encouraged to
embark by the action o f Congress. W e have seen that the founders o f
the city counted largely upon the advantages to accrue from the western
inland trade with G eorgetow n and Washington, by a connection between
the waters o f the Potomac and Ohio rivers ; a project which was regarded
as easy o f execution.
At a day anterior to the cession o f this District by the States o f Mary­
land and Virginia, those two States had incorporated a company for the
18
VOL. XVIII.--- NO. III.




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The Seal o f Government o f the United States.

improvement o f the river Potomac, in the stock o f which General W ash,
ington became largely interested. T h e great object o f desire continued
to he to achieve this work as far as the town o f Cumberland, at the base
o f the Alleghany Mountains, under the confident belief that wflen that
rich mineral region should be reached, a new and greatly enlarged source
o f trade would be opened, which could not fail to enrich the three corpo­
rations o f the District. “ The canal was designed to have been con ­
structed o f the width o f thirty feet, and to the depth o f three feet o f water ;
the consummation o f which, there is little reason to doubt, was fully within
the means o f the District, with the aid o f Virginia and Maryland.” * The
subject soon attracted a very general interest, and in November, 1823, a
convention o f delegates, chosen by people o f various counties in Maryland,
Virginia, Pennsylvania, Ohio, and by the corporate authorities o f the
District o f Columbia, assembled at Washington. N ew interests had now
been brought into connection with the subject, and the object to be obtained becam e proportionably enlarged. The attention o f the government
was given to the subject, and it came to be considered as important that
the work should be enlarged, and extended to the Ohio River, in part by
national appropriations. In this light President Monroe esteemed it, and
accordingly, in his annual message, in D ecem ber, 1823, submitted it to
the consideration o f Congress, as a subject o f the highest importance to
the general interest. Congress, on the 28th o f May, 1828, passed an act
subscribing $1,000,000, upon condition that the dimensions o f the canal
should be enlarged. The canal was to be sixty feet wide, and six feet
deep; and the expense o f the work, as far as Cumberland, was estimated
by U. S. engineers at over $8,000,000 ; exceeding the estimated cost on
the old plan by more than $5,000,000. The committee, in their report
to Congress, February 3d, 1836, from which many o f these statements are
derived, remark :— “ In short, no room was left to doubt but that the gov.
eminent seriously designed to give its best energies to the entire completion o f the work. It was perfectly natural, under the circumstances,
that the inhabitants o f the District should becom e deeply interested in the
project. The city o f Washington subscribed $1,000,000, and Alexan­
dria and Georgetown $250,000 each. Th ey may in truth be regarded
as having been stimulated to make these large subscriptions, so much b e ­
yond their fiscal means, by the direct action o f the government. W ith­
out the consent o f the government, they had no authority to make the sub.
scriptions ; and the interest taken by the government in their becoming
subscribers, is sufficiently manifest by the terms o f the act o f Congress.”
The government was aware o f the incapacity o f the subscribers to meet
the payment o f their subscriptions, without contracting a loan ; and to
enable them to do so, it gave the most unquestioned pledge that the loan,
and all interest that might accrue on it, should be paid. It assumed the
supervision o f its payment. I f the government had continued its counte­
nance to this work ; if it had given from time to time, from the public trea­
sury, its aid, as it had done in similar cases, and as there was every reason
to suppose they would have done in this, the stock o f the canal would have
continued to increase in value, and thus the means have been always in
* Senate Doc. No. 277, 26th Congress, 1st Session, which embodies full particulars
relative to the canal.




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275

the hands o f the District cities to reimburse their debt. An opposite pol<icy, however, prevailed in relation to the connection, o f government with
internal improvements; some o f those high in office, who had most stren­
uously advocated it at first, having changed their views. Maryland put
her shoulder to the wheel, and contracted an enormous d e b t; but, as
usually happens in such works, the estimates were below the actual cost,
and the canal did not reach that point which would insure any consider­
able revenue. So long as there was any prospect o f this, the citizens o f
Washington exerted themselves to the utmost to sustain the burden, by
taxing themselves, and borrowing money to pay the interest; by which
a large additional debt was added to the already oppressive burden, [n
this state o f things, Congress were moved by the considerations herein­
before mentioned, and the strong equity grow ing out o f them in favor o f
the people, who, by the constitution, are placed under its exclusive guar­
dianship, and who, by its change o f policy, were thus “ devoted to destruc­
tion.” T h e debt o f $1,000,000 was assumed by the government, and the
stock o f the city taken as security for the repayment. Up to this date,
(1 8 4 7 ,) the canal is still unfinished, though the prospects are said to be
favorable. W hen it is completed, if half the expectations o f those who
have examined the coal regions are realized, the stock must rapidly rise
in value.
T h e aid thus obtained from Congress w as very great, although the city
was still left in debt to the amount o f nearly $800,000, (being for money
borrow ed to pay interest, and the lottery debt.)
On the other hand, the citizens have not been wanting in exertions to
make the city a suitable place o f residence for the government.
Since it was first incorporated, in the year 1802, when its site was an
entire waste, there have been opened, graded, and improved, about thirtyfour miles o f streets, costing an outlay o f $ 4 5 0 ,0 0 0 ; and there have been
laid down 2,725,000 superficial feet o f brick pavement; about 20,000 feet
o f flag footways, and numerous bridges and culverts erected— the expense
o f the pavements being defrayed by a special tax on the p -operty border­
ing on them, and the streets, bridges, etc., by a ta x on the property o f the
inhabitants generally. For the execution o f all these works o f improve­
ment, and for the support o f the poor and infirm, and the support o f public
schools, the inhabitants have been taxed to an aggregate amount o f
$2,390 ,5 05 . T h e private property is estimated at about $ 1 2 000,000.
T h e real property o f the government in the city is valued at $ 7 ,0 2 2 ,8 7 9 ;
but that o f course has been free from taxation, and the burden o f improve­
ment has fallen on the property o f the citizens alone.* Had govern­
ment paid taxes in due proportion from the establishment o f the metropo­
lis to the present time, the amount so disbursed would be nearly
$3,000,000.
W e have thought it necessary to set forth, with as much o f detail as the
limits o f our history will admit, the amount o f aid to the city proper which
has been at times rendered by Congress, with the reasons which led to
such appropriations, in order to explain many incorrect impressions which
prevail on this subject. It will be seen that, including the amount o f the
canal debt, and the amount appropriated for Potomac bridge and other




Mayor Seaton’s message, 1847.

276

The Seat o f Government o f the United Stales.

purposes not strictly chargeable to the city, the whole o f these appropri­
ations are hut little more than.......................................................... $1,500,000
It has received in money, from the sale o f lots, nearly $800,000
And, though owning all the streets, ajid two-thirds
in value o f all the city property, it has been ex­
empted from taxation to the amount o f at least. 2,500,000
--------------- 3,300,000
Leaving a balance against the government o f . ..........$1,800,000
Whether it would be expedient, or consistent with the dignity o f the
nation, to place itself in the position o f a tax-payer, may perhaps admit o f
doubt; but it is no answer to say that, had the government selected any
other city for its residence, public buildings would have been provided,
and many other sacrifices cheerfully incurred, for the sake o f the benefits
which would be thus conferred on the place, without any thought o f tax­
ation ; for all other places have been laid out, in the first instance, for the
convenience o f the inhabitants, and it has been in their power to confine
their expenditures within the space actually occupied ; while the accom ­
modations given to government, however liberal, would, in most instances,
be such as not to interfere with, but rather conform to the convenience o f
the residents— whereas this city was laid out, in the first instance, for
the sole convenience o f the governm ent; and hence, not only are the inhab­
itants burdened, in the way we have mentioned, with many useless and
unnecessarily wide streets, but the public buildings, being scattered over
a wide space, the city has grown up in separate villages around these
edifices, and made it necessary to open and improve numbers o f connect­
ing streets, before there were inhabitants enough upon them to justify the
expense.
In Mr. Southard’s report, it is remarked that “ in several States o f the
Union where the government holds landed estate, it has paid taxes upon
it, and these taxes have been expended for the ordinary municipal pur­
poses o f the places where the property was situated. In the acts o f in­
corporation, which give to the city o f W ashington a partial control and
regulation over the streets, there is no exemption o f the property o f the
government from taxation ; and it might, perhaps, be properly inferred
that Congress did not intend that it should be exempted, but that it should
bo equally subject to those burdens which becam e necessary for the com mon benefit o f the whole. But the corporate authorities have, with pru­
dence and propriety, abstained from levying taxes upon it, and have laid
the whole weight upon that part o f the property which belonged to indi­
viduals, while the government has been equally participant in the benefits
which have resulted from them. * * * T h e committee are not willing to recommend that there should be any change in this resp ect; but
they believe that provisions should be made by which mutual benefits
should be met by mutual burdens, without attempting to decide this
question.”
W e think it will appear from our statement o f what has been done by
both parties, that the people o f Washington have not been entirely de­
pendent on national charity for support; but, on the contrary, that the
government should annually make liberal appropriations for all the great
avenues, not as a matter o f favor, but o f justice and right.




The Seal o f Government o f the United States.

277

But it is not by what has been already done, however much that might
be, that the obligations o f Congress in this matter are to be determined.
I f it was good policy to build a city expressly for a seat o f government, it
is policy to do it w e ll; if it was not good policy, it is now too late to undo
what w e have done.
W e have started Washington, and expended
enough there to make it incumbent upon us to go on with i t ; i f we are to
have a national city, let it be worthy o f the nation ; at all events, let us
leave nothing half finished ; if wo are to expend $3,000,000 on a capitol,
let us make the ground in front to conform in appearance to some degree ;
i f w e are to open splendid streets, let us at least complete them so that
they shall prove safe promenades, and not, as now, sources o f blinding dust.
A difficulty has, however, arisen, that was never anticipated. The very
dependence o f the District on Congress for all legislation, instead o f opera,
ting as was intended, in making it a place in which every member took
an interest, has rather made it the vantage-ground upon which to try all
manner o f experiments ; since, whatever might be the result, there are no
voters here to call politicians to account. It is not to be denied that there
are many o f all parties who seize upon whatever relates to the District o f
Columbia, out o f which to make for themselves political capital, by showing a watchful regard for the constitution, or gaining credit at home for
prudence and econom y. These gentlemen would limit action, under the
strict letter o f the constitution, in all cases, to what mere necessity requires;
a rule which would discard the statues from the capitol, and the pictures
from the rotunda. Indeed, w e have heard it gravely proposed to turn
the President’ s mansion into a public office, and compel its occupant to
find accommodation where he could ; for, although we may give the Pre­
sident any compensation we choose, it is against the spirit o f republican institutions to give him a palace to live in ; even although, as is the fact, it be
more occupied by the sovereign people than himself.
H ence, every session, a long debate takes place, when the subjects o f re­
pairing Pennsylvania Avenue, (the only one for which the government
has appropriated anything,) the police o f fifteen men, or the repair o f P o­
tomac bridge, are under consideration ; every member seeming to look
upon this portion o f his labors as a matter o f favor to the residents on the
spot, rather than as a part o f their duty to the Union.
That these cavils originate, in many cases, more in the motives we have
assigned, than in any serious scruple about the propriety or legality o f
the objects proposed, is evident from the fact that, after having been suffi­
ciently long in Congress to have established their reputation, members
frequently become reconciled to such innovations, satisfied that they attract
but little attention elsewhere.
Again, “ what is every-body’ s business, is nobody’s,” is forcibly illus­
trated in the legislation for the District. I f representatives could be made
to understand that their constituents regard the improvements o f the polit­
ical metropolis in the same light that the people o f England do those o f
London ; if the facts w ere once made known, and the various public
works from time to time made the subject o f comment and discussion in
the papers, reviews, and public associations, we feel assured that a more
liberal and consistent legislation would be speedily brought about.
And, after all, the expense is o f little real moment. W hat is an outlay
o f $100,000 per annum, for such a purpose, to the people o f the United
States ? W h o is not proud o f every public work completed on a scale




278

The Seal o f Government o f the United Stales.

worthy the nation ? W h en have w e heard a complaint from any section
o f the country, with regard to the appropriations heretofore made for these
purposes? Almost every committee o f Congress who have had the claims
o f the District under consideration, have recognized the propriety o f such
expenditures, on the ground that they were for the benefit o f the nation
at large. And the same may be said o f most o f our presidents. Mr.
Jefferson had no scruples when he planted the poplars upon the avenue,
or when he desired to bring into the city the water from the little falls o f
the Potomac, or the T iber Creek, in order that a second Croton might
everywhere bubble up on the reservations, and along the avenues, in the
sparkling fountains, instead o f the present insignificant little stream which
scarcely supplies the fish pond and fountains o f the capitol. N or had
General Jackson, when he proposed a splendid stone bridge over the
Potomac, in place o f the present ricketty wooden structure. T h e same
argument that makes it unconstitutional to improve the thoroughfare we
have opened, mainly for the public benefit, because that improvement
contributes incidentally to enhance the value o f private property, would
justify the taxing o f those whose property is benefited by the erection o f
a public building in the neighborhood, for a part o f its cost. Let it be
continually borne in mind, that all these things are not solely for the
pleasure o f those who are to reside there, but for the thousands who are
annually called there by public duties, or private business with the government.
It has been a matter o f much question, whether the incorporation o f a
city government, with a mayor elected by the people, was not a measure
injurious to the interests o f the city, and contrary to the principle upon
which the capital was selected— that it should be under the exclusive con ­
trol o f the government. It seems to give to the place an existence sep­
arate from, and in a measure independent o f Congress. T h e election o f
a mayor has at times given rise to the exhibition o f much party strife,
which produces no little bitterness o f feeling in Congress, and has occasionally, perhaps, led to the selection o f individuals for the station, rather
with reference to their political opinions, than their qualifications. H ence,
many o f the oldest citizens, and largest property-holders, have expressed
themselves in favor o f surrendering the present charter, and returning
to a government similar to that first adopted, which gave the President
the power o f appointing a mayor, as he now does the governors o f terri­
tories ; with the qualification that his selection should be made from among
the citizens. It would be a useless and tedious detail to give here all the
various speculations as to the most suitable form o f government fin- the
District. It elicited much discussion in pamphlets and otherwise, at the
time o f the cession, and the subject has been o f late years revived in con ­
nection with the proposed amendments to the city charter. E xperience
has shown that one important point, to which any new system should look,
is the union o f the peculiar government interests with those o f the city at
large, and an annual report to Congress relative to the condition o f the
place, with respect to finances, improvements, etc.
The great difficulty heretofore, with regard to all public expenditures,
has arisen from a want o f proper system. An officer has been constituted
as Commissioner o f Public Buildings ; but, as it has been administered
during the last few years, he seems to have felt it his duty simply to
superintend the carrying into effect o f such improvements as Congress




Commercial Cities o f E u rop e: Marseilles.

279

may order, or to reply to special calls. W hether this has been the fault
o f the law under which the office is held, or o f the persons administering
it, we do not k n o w ; but it would seem that it should be his duty to make
himself well acquainted, not only with every improvement necessary on
the ‘p ublic buildings and grou nd s, but also the g en era l im provem ents n eeded
on p u b lic streets and thorou gh fares ; and, in his annual reports, and other­
wise, to bring them directly to the attention o f members, with suitable
plans and estimates. A man o f judgment and taste in such pursuits, should
be appointed to perform these duties ; and, to this end, his action should
be in connection with the city authorities, o f which he might, ex-officio, bo
one. By some such arrangement as this, the amount contributed to public
improvements by Congress and the city respectively, would be each year
officially laid before the nation, and would form the basis for such annual,
appropriations as Congress should see fit to make in lieu o f taxes, should
the imposition o f these be deemed inexpedient.
In this way, some general system for joint action on the part o f the
city and the government, might in time be established.

Art. IV.— C01I1IERCIAL CITIES OF EUROPE.
N O. II— M A R S E IL L E S .
LOCATION OK MARSEILLES— ITS ANTIQUITY— COMMERCIAL PROSPERITY— EARLY IIISTORY— SHIPPING
ENTERING TIIK PORT, COMPARED WITH OTHER FRENCH PORTS—THE HARBOR— PORTS OF RATONNKAU
AND POMEGUE—IMPORTS OF MARSEILLES— EXPORTS—COMMERCE OF TRANSIT—COASTING TRADE—
TRADE WITH THE UNITED STATES— FISHERIES— MANUFACTURES—PUBLIC INSTITUTIONS— CHAMBER
OF COMMERCE— HEALTH ESTABLISHMENT, ETC.

M arseilles , the most important com m ercial city o f France, is situated
on the G u lf o f Lyons, near the mouth o f the Rhone, in latitude 43° 17' 49"
North, longitude 3° 2' East from Paris. It is 102 leagues distant from
Lyons, and 220 leagues from Paris.
N o place in the com m ercial world can compete with Marseilles in
antiquity. Before the Christian era, she possessed manufactures o f je w ­
elry, coral, leather, and soap— branches o f industry in which she has never
had a superior. Her favorable position for com m erce gave her wealth
and political importance. In her immediate neighborhood were the most
fertile countries, the most cultivated nations, and the most powerful States
in the world. Iberia was on her right, Italy on her left, Numidia in her
front, and Gaul in her rear.
H er people, restless and enterprising, w ere not unmindful o f these ad­
vantages. T h e soil o f Provence is sterile, and they gave little attention
to its cultivation— their only agricultural products were the olive and the
vine. T h eir glory was in their com m ercial success. By the Rhone,
they found a passage into the heart o f Gaul— they sent forth colonies to
every shore o f the Mediterranean— their fifty-oared galleys traversed
every sea o f the known world, laden with the perfumes o f Syria and Asia
Minor, the fabrics o f India, the silks o f Tripoli, the grain o f Africa, the
horses o f Spain, and the rich stuffs o f Persia.
W ith their naval daring, was naturally mingled a spirit o f haughtiness
and independence. In an evil hour, trusting to their maritime strength,
they took up arms against Caesar. By him they were conquered, and re­




280

Commercial Cilies o f Europe : Marseilles.

united to the Rom an empire ; but, notwithstanding this reverse, their
commercial prosperity continued unchecked until the time o f Constantine.
From the reign o f Constantine till the beginning o f the Crusades, the
com m erce o f Marseilles languished, except for a short interval under
Charlemagne. The Crusades restored to ber her ancient trade with the
Levant. She sent consuls to the trading establishments founded by the
Christian warriors in the. cities o f T u rk ey ; and, for many years, the spirit
o f war and o f devotion alike ministered to her wealth and her com m ercial
prosperity.
Until the middle o f the thirteenth century, Marseilles had been governed by her own laws, and had been free from the destructive influence
o f the feudal institutions ; but, in the year 1257, she fell into the pow er
o f the Counts o f Provence. By her new masters, she was involved in
constant and ruinous wars. In a few years her wealth was wasted, and
her com m erce destroyed— but, when Provence was united to France, a
new vigor began. Under Louis X I I ., she opened a trade with the French
ports on the ocean. In the time o f Francis I., w e find mention made o f
distilleries, and manufactures o f cottons, carpets, hats, jew elry, and furni­
ture. In the reign o f Charles I X ., silks and velvets were added to the
products o f her industry.
But it was in the time o f Colbert that M arseilles made her greatest
progress in commercial prosperity. By him, she was made a free port.
At the beginning o f his administration, 200 vessels w ere sufficient for
her com m erce— in a few years, her fleet numbered 1,500. After Colbert,
she remained stationary until near the close o f the last century, when her
enterprise started with a new vigor, under the impulse o f the prevailing
spirit o f commercial liberty.
From 1783 to 1792, the average annual value o f her imports was
78.000. 000 livres; that o f her exports, 60,000,000 livres. In 1792, the
number o f vessels entering her port was 2,442, measuring 322,000 ton s;
the number clearing, 2,617, measuring 362,000 tons. H er population at
this time is said by the Chevalier de Girard to have been 140,000.
T h e breaking out o f the war with England brought speedy destruction
to the com m erce o f Marseilles. H er ships w ere swept from the sea, her
manufacturing industry was prostrated, and the accumulated wealth o f
centuries was lost. In the year 1814, her population was reduced to
80.000, o f whom 40,000 were paupers. The city suffered all the miseries
o f a besieged garrison. But this did not last long. Though driven from
their favorite pursuits, her people still preserved their spirit o f enterprise;
and they soon applied themselves with new vigor to manufacturing pur­
suits. Science supplied the materials which formerly had been brought
from foreign countries. In a short time, manufactures o f soda, sal soda,
and sulphuric acid, w ere established. These, in their turn, nourished
other manufactures ; and at the fall o f the empire the prosperity o f the
city was rapidly returning.
Since that time, she has steadily advanced in prosperity; and she has
already outstripped her old rivals, Bordeaux, Nantes, and Havre. From
1825 to 1830, the average value o f her imports was 122,000,000 francs
per annum ; that o f her exports, 95,000,000 francs. The average annual
value o f imports into the whole kingdom, for the same period, was about
600.000. 000 francs; o f exports, 590,000,000 francs. The following table
gives the number and tonnage o f vessels entered and cleared at Mar*




2S1

Commercial Cities o f E u rop e: Marseilles.
s e ille s ,

a n d

at

a ll th e

p o rts

o f

F ra n c e ,

d u r in g

the

te n

y e a rs

fro m

1 8 2 5

to

1 8 3 5
A R R IV A L S .
Y e ars.

V e s s e ls .

Tonnage.

V e s s e ls .

Tonnage.

3 ,1 6 3 ,9 3 7

5 ,9 5 5

4 2 5 ,3 5 3

1 8 2 7 . . . . .................... .........

7 9 ,5 4 L

3 ,0 3 5 ,8 7 3

6 ,0 6 0

4 3 0 ,6 1 9

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

8 3 ,2 0 0

3 ,2 4 9 ,9 1 6

5 ,7 5 6

4 3 6 ,2 0 9

1 8 2 9 ...... ..............................

8 3 .8 3 4

3 9 2 ,6 8 3

1 8 2 6 ......

1 8 3 0 ......
1831

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

86 349

1 8 3 2 . .. .
1 8 3 3 ...... ..............................

8 7 ,1 8 0

1 8 3 1 ......

3 ,2 6 2 ,0 6 7

5 ,0 G 4

3 ,5 0 6 ,8 8 2

5 ,9 8 9

5 5 7 ,1 6 5

3 ,1 3 9 .8 8 6

5 ,7 5 1

4 7 2 ,2 4 6

3 ,5 8 8 ,1 5 8

7 ,2 0 1

6 2 9 ,7 8 0

3 ,5 5 3 ,2 1 9

6 ,8 3 1

5 6 7 ,1 6 1

4 ,4 3 6 ,1 3 7

7 ,2 6 2

6 2 5 ,4 5 8

1 8 3 5 ...... ............................

1 0 9 ,1 0 8

4 ,2 5 0 ,1 6 0

6 ,3 5 0

5 3 9 ,4 6 9

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

9 0 8 ,5 1 1

35 ,1 9 6 ,3 3 5

6 2 .2 1 9

5 .0 7 6 ,1 4 3

M e a n .............................

9 0 ,8 5 1

3 ,5 1 9 ,6 3 3

6 ,2 2 0

5 0 7 ,6 1 4

3 8 3 ,6 3 6

CLEARAN C ES.
1 8 2 6 ...... ..............................

8 3 ,0 2 3

2 ,9 1 0 ,6 4 6

5 ,2 0 9

1 8 2 7 ...... ..............................

7 8 ,7 1 7

2 .9 2 8 ,9 1 8

5 .3 8 6

4 1 2 ,1 4 5

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

8 1 .9 4 0

3 ,0 7 4 ,1 5 4

5 ,2 8 7

4 3 2 ,0 8 0

1 8 2 9 ...... ..............................

8 0 ,7 9 4

2 ,9 8 2 ,1 5 4

4 ,6 7 5

3 8 9 ,4 1 7

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

8 5 ,5 5 8

3 ,0 6 0 ,9 5 7

5 ,0 5 6

4 3 0 ,7 1 2

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

8 3 ,6 4 9

2 .8 9 5 ,9 6 4

4 ,8 8 7

3 7 4 ,9 1 9

1 8 3 2 ...... .............................

8 G .7 7 0

3 ,2 3 0 ,0 1 1

5 ,8 4 2

4 7 2 ,6 6 2

3 ,2 8 0 ,8 7 4

5 ,6 3 6

4 5 3 ,5 1 6

1 8 3 3 . .. .
1 8 3 4 ...... ..............................

1 1 2 ,9 8 6

4 ,4 2 5 ,3 4 5

6 ,8 2 2

5 9 8 ,9 6 8

1 8 3 5 ...... .............................

1 0 7 ,5 7 1

4 ,3 3 1 ,3 1 8

6 ,0 4 7

5 3 9 ,1 5 3

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

8 8 5 ,6 9 0

3 3 .1 2 0 .3 4 1

5 4 ,8 4 7

.-4 ,4 8 7 .2 0 8

M e a n ..............................

8 8 ,5 6 9

3 ,3 1 2 ,0 3 4

5 ,4 8 4

4 4 8 ,7 2 !)

T o t a l. ....

W e propose to give a b rief sketch o f Marseilles, and o f its commercial
and manufacturing industry at the present time.
T he H a rb o r . T h e entrance to the harbor o f Marseilles looks to the
North-west. The harbor itself stretches up into the interior o f the city
to a distance o f about three-fifths o f a mile, and is about a quarter o f a
mile wide. T h e entrance, otherwise called the “ Chain,” because form­
erly a chain was drawn across it during the night, is enclosed between
two rocks, on each o f which a fort, is built. That to the North is called
Fort Saint J ea n ; that to the South, Fort Saint Nicolas. Th ey are in a
poor state o f defence. The entrance, commanded by these fortifications,
is very narrow, difficult, and shallow. But few vessels can pass through
it at once, and its depth o f water is not sufficient for a frigate to enter
with her guns on board. In other respects, the harbor is as safe as any
in the world. It is sheltered from the winds, and is large enough to con ­
tain 1,200 vessels. On the quays, are many interesting edifices, among
which are the Custom-house and the Exchange. T o the South, is an
internal canal, crossed by draw-bridges, which nearly surrounds the mag­
azines o f the custom-house ; thus placing the principal bureau o f the
customs almost upon an island. The harbor and roads are guarded by
advice-boats, armed with small guns.
In entering the harbor, it is necessary to keep w ell to the right, in order
to avoid a ledge o f sunken rocks called M a n g e-Y in . A light-house on Fort
Saint Jean is the principal beacon during ihe night. T h ere are about 15
feet o f xvater in the channel. W ithin the harbor, the depth is from 18 to
20 fe e t; and without it, from 20 to 25 feet.




282

Commercial Cities o f Europe : Marseilles.

P o r t s
o f
R a t o n n e a u
a n d
o f
P o m e g u e .
Besides its port upon the
continent, Marseilles has other ports upon a group o f islands situated half
a league from the shore. These are the ports o f Frioul, Ratonneau, and
Pomegue. The last two islands have been united by means o f an im­
mense dike, the construction o f which is a master-piece o f the age.
There is sufficient water at this port for a ship o f the line to anchor. It
serves as the place o f quarantine. T here are hospitals on each o f the
two islands for the reception o f persons sick with contagious diseases. A
little further out, and almost at the head o f the roads, is the island o f If, a
rock bristling with batteries, which has long served as a State prison.
I m po rts of M a r se il l f .s. T h e principal articles o f import at M ar­
seilles are raw hides, cotton, wool, tallow, sugar, coffee, cocoa, pepper,
olive oil, sulphur, coal, iron, lead, and grain.
Cotton is one o f the most important a rticles; one-sixth o f the whole
amount imported into France entering at Marseilles. In 1836, the im ­
ports o f cotton into Marseilles were about 100,000 bales. O f this, nearly
30,000 bales were from North Am erica. T here are a considerable num­
ber o f cotton spinning-mills in the neighborhood o f the city.
T h e number o f raw hides imported at Marseilles is about 28 per cent
o f all that enter the kingdom. T h e greater part comes from South
Am erica.
T h e imports o f w ool supply a large number o f manufacturing estab­
lishments. In 1835, the amount imported was about 5,400,000 kilo­
grammes.* The average import is 40 per cent o f all that enters the
kingdom. T h e countries from which it is brought are Egypt, Barbary,
Sardinia, Tripoli, & c.
Before a bounty was paid on exports o f refined sugar, the imports o f
colonial sugar at Marseilles were not more than 4,000,000 kilogrammes
per annum. Since that time, the imports have been about six times as
great. Between the years 1832 and 1836, Marseilles received about
one-fourth o f the French colonial sugar, and about two-thirds o f the foreign
sugar imported into the kingdom.
T h e extensive manufaclure o f soap at Marseilles renders olive oil an
article o f great account among its imports. The returns o f the customs,
however, give no accurate measure o f the quantity consumed, since the
cultivation o f the olive is carried on^extensively in Provence ; and, in
favorable seasons, affords abundant returns. T h e average annual import
o f this article, for manufacture, from 1832 to 1836, was about 29.000,000
kilogrammes. T h e average amount annually imported into other ports
o f France, during the same period, was about 6,000,000 kilogrammes.
Marseilles is an important grain market. T h e amount o f foreign grain
entering the port, however, varying according to the harvest, and accord,
ing to the changing duties, gives no uniform measure o f the extent to
which this article enters into the trade o f the city. In the year 1829, the
import was less than 5,000,000 litres;')' in 1832, it was more than
190,000,000 litres.
Nearly all the sulphur imported into France arrives at Marseilles. The
amount in 1836 was 25,450,000 kilogrammes.
T h e proportion which the import o f tallow at Marseilles bears to the

*

T h e k i l o g r a m m e i s a b o u t 2 lb s . 8 o z . t r o y ,

t

T h e lit r e i s a b o u t 6 1 c u b ic i n c h e s — a lit t le l e s s t h a n 1




q u a rt.

Commercial Cities o f E u rope: Marseilles.

283

whole import o f that article into France, is 34 per c e n t ; o f coffee, 34 per
cen t; cocoa, 17 per cen t; pepper, 31 per cent.
E x p o e t s of M a r s e il l e s . The principal articles exported from Mar­
seilles are dried and preserved fruits, olive oil, almonds, soap, madder,
refined sugar, and wines.
O f the dried fruit exported from France, Marseilles exports 13 per
c e n t ; o f the preserved fruit, 52 per c e n t ; o f olive oil, 81 per c e n t ; and
o f almonds, 80 per cent.
Soap is the great product o f the manufacturing industry o f Marseilles.
T h ere are 43 factories in the city, which employ 700 workmen, and pro­
duce an annual value o f 30,000 000 francs. 'The greater part o f this i3
sent into the interior o f France— not more than 5 per cent o f it is ex­
ported. It cannot compete with the English and American soap, which,
though inferior in quality, is cheaper, and on that account finds a market
more easily. T h e quantity exported is, however, 87 per cent o f all ex­
ported from the kingdom.
England and the United States obtain nearly all their madder at Mar­
seilles. The whole amount exported in 1836 was about 10,000,000 kilo­
grammes. T h e average export is about 56 per cent o f all that leaves
France,
Fifty-five per cent o f the refined sugar o f France is exported from Marseille.s. W hile the highest bounty xvas in force, this amount was nearly
10,000,000 kilogrammes. In 1836, it was over 5,000,000 kilogrammes.
W in e holds an important place among the exports o f Marseilles. T w o thirds o f the quantity sent from France to the United States com es from
this port.
C o m m er c e of T r a n s i t . Marseilles is the most important port o f
transit in France. M ore than a third o f the merchandise crossing the
kingdom, to and from foreign countries, passes through this city. The
principal articles o f this trade are coffee, sugar, cotton, iron, h ad, olive
oil, sulphur, liquorice, & c .
These pass from the colonies to Germ any,
Savoy, Switzerland, & c ., or from those countries to Italy, Spain, the L e .
vant, Am erica, & c . T h e value o f the merchandise thus crossing, in
1832, was nearly 6,000,000 francs.
C o a s t in g T r a d e . Marseilles carries on an extensive trade with
Rouen, Nantes, Bordeaux, Dunkirk, Havre, R ochelle, Brest, and the ports
o f the Levant. T h e value received is about 15,000,000 francs— that ex­
ported is about 36,000,000 francs. T h e articles imported are raw hides,
resin, pewter, zinc, spun cotton, com m on pipes, hempen fabrics, prepared
skins, perfumery, pottery, sumac, bricks, wood, glass, cordage, soda, sal
soda, wine, brandy, grain, olives, fruits, horns, tallow, w ool, & c. T h e
articles exported are wines, liquors, soap, fruits, olive oil, cork, lead, mad­
der, sugar, gum, liquorice, drugs, cloths, furniture, tools, iron-ware, & c .
T h e value o f the exports o f this trade exceeds that o f the imports, because
most costly articles, such as fine cloths, linens, and cottons, are sent from
the ocean ports to Marseilles by land.
T r a d e w it h t h e U n it e d S t a t e s . T h e principal Am erican products
imported into Marseilles are cotton, hides, flour, tobacco, and ship-timber.
Besides these, the ships o f the United States bring a large number o f
other articles, produced in the East Indies, Cuba, Brazil, & c., and re-ex­
ported from the United States; such as tea, coffee, sugar, indigo, nankins,
dye-woods, & c . T h e articles exported from Marseilles to the United




$

284

Commercial Cities o f E u rope: Marseilles.

States are chiefly wines, brandy, salt, madder, soap, fruits, oil, and specie.
T h e value o f the imports is always greater than that o f the exports. In
1832, the imports amounted to 13,000,000 francs, the exports to 6,000,000
francs. Between 1815 and 1836, the number o f Am erican vessels enter­
ing Marseilles was from 80 to 100 yearly.
F is h e r ie s . Only one attempt has ever been made to carry on tho
whale fishery from this port. This was in the year 1833, but it met with
no success.
N o vessels leave Marseilles on the cod fishery, but it is one o f their
principal ports o f arrival.
It receives annually from 6,000,000 to
8,000,000 kilogrammes, amounting in value to about 1,500,000 francs.
About one-third o f this quantity is re-exported; the rest is consumed in
the neighborhood.
T h e taking o f the smaller fish is an important branch o f industry. It
employs a large number o f men, and forms excellent sailors. It produces
annually about 1,500,000 francs.
M an u factu res.
Marseilles has extensive and various manufacturing
establishments. T h ey serve to nourish its com m erce, and afford fruitful
returns. Am ong them, are manufactures o f artificial soda, (an article
which has supplanted the natural soda in the production o f soap,) o f sal
soda, and sulphuric acid, which find a market in the manufacturing towns
o f the North ; 37 tanneries, (an old branch o f industry, though somewhat
declining o f late.) which employ 200 workmen, and tan 30,000 hides, (o f
which about 6,000 are from cattle killed in the city,) 200,000 goat-skins,
imported from abroad, and about the same number o f sheep-skins, from
P ro v e n ce ; several establishments for salting fish ; 4 starch factories; 14
manufactories o f pastry for ex p ort; 2 o f fish-hooks ; 36 o f salt provisions,
em ploying 200 laborers; 7 b rew eries; 38 liquor factories; 36 con fec.
tionaries ; 6 shot factories; 7 glue factories ; 4 manufactories o f alum ;
3 o f white lead ; 5 o f cream o f tartar; 4 o f h ose; 22 o f hats, exporting
annually from 30,000 to 50,000 hats o f first quality, and from 10,000 to
15,000 o f inferior quality ; 25 tile-kilns ; 16 brick-kilns ; 26 candle fac­
tories, exporting from 600,000 to 700,000 kilogrammes per annum ; 7
w ax factories; 1 China factory; 2 paper-m ills; 4 card factories; 7 glass­
houses ; 2 or 3 coral factories ; 4 sulphur refineries, and 37 establish­
ments for the building and rigging o f vessels.
It has been estimated that the manufactories o f Marseilles, 1,612 in
number, employ 11,000 workmen, and produce a value o f 100,000.000
francs annually. In this valuation, only those factories are included which
furnish articles o f com m erce, and participate in the export trade. T o
obtain the entire value o f the industry o f the city, it would be necessary
to add the products o f those establishments w hich furnish only articles o f
home consumption.
P u b l ic I n s t it u t io n s . At Marseilles there is a Cham ber o f Com merce,
an E xchange, a Council o f prud’hommes, (w hose office it is to settle dis­
putes between employers and laborers,) a Marine Court, a Health Estab­
lishment, a Com missary-General and a Treasurer o f Marine, a Custom­
house, a Tribunal o f First Resort, and a Royal Court.
T h e Cham ber o f Com m erce o f Marseilles is the original model o f all
institutions o f the kind. It was established in the year 1650. T h e Council o f prud’hommes was organized in 1349.
T h e Health Establishment is also o f local origin. T h e plague o f 1557,




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295

and the still more terrible one o f 1720, showed the necessity and the ad­
vantage o f such an institution ; and the constant trade between Marseilles
and the Eastern ports o f the Mediterranean renders the greatest vigilance
necessary to preserve the city from contagious diseases. T h e Lazaretto
is one o f the finest in the world. The time and manner o f quarantine
are regulated by very ancient rules. E ach ship quarantined pays a small
sum for the support o f the establishment.

Art. V.— LEAD REGION AND LEAD TRADE OF THE UPPER MISSISSIPPI.
T h a t section o f our country known as the Upper Mississippi lead r e ­
gion has, for many years, attracted much o f the attention o f the public,
and o f the government. T h e richness o f the mineral deposits, the general
fertility o f the soil, and its adaptation to agricultural purposes, together
with the healthful climate o f the country, have given it an importance
scarcely exceeded lay any other section. Affording, as it does, so large a
supply o f an article which is subjected to so many useful purposes as that
oflead, it could hardly be otherwise regarded than a very important portion
o f the country.
T h e mineral character o f the country (called, in former times, the
“ Fevre River M ines” ) has long been known. M ore than a century and
a h alf ago, the Indians found traces o f lead ore on this side o f the Missis­
sippi, to which they directed the attention o f the early French voyageurs
and traders. Finding that lead could be made an article o f traffic, they
commenced searching for the ore ; but, with the simple means then within
their control, without much success. W hen they had collected together
a small quantity o f the mineral, they would reduce it by throwing it on
to large fires. Large logs would be placed on the ground, and smaller
pieces o f wood placed around, and the ore then heaped on. Fire would
be set to it in the evening ; and by the next morning, it having gone out,
the melted lead would be found in shapeless pieces in the ashes, or in
small holes scratched in the earth under the logs. These pieces o f lead
w ere then sold to the traders. As long ago as 1690, the traders at the
old trading-post where Peoria now stands, purchased the product o f these
mines.
Old “ Indian diggings” are found indifferent portions o f the
mining region ; and some o f them, “ proved up” by the whites, have turned
out very valuable. T h e lode, or lead, as it is called here, which has pro­
duced more mineral than any ever yet found in the country, and,
known as the “ buck lead,” was an Indian discovery, within a mile o f
the present city o f Galena. It was purchased o f the Indians by C olonel
James Johnson, o f Kentucky, the brother o f the late Vice-President, and
one o f the earliest pioneers o f the Fevre River Mines.
D iscoveries o f mineral were made in the Louisiana Territory, (now
Missouri,) about the time o f the early discoveries in the Upper Mississippi
Mines ; but the lead ore found there was converted, by the heated im ­
aginations o f the early adventurers, into the ore o f the more precious
metals.
L ’ lbberville was the first royal French governor o f the L ou isi­
ana colony, and he arrived in 1699. Reports o f vast mineral wealth in
the unexplored regions o f A m erica having reached France before the de­
parture o f L T bberville, the Farm er-General was induced to send out




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Lead Region and Lead Trade o f the Upper Mississippi.

with him some experienced metallurgists. H aving orders to effect settle­
ments in the vicinity o f the mines, Governor L ’Ibherville undertook the
enterprise in l'i0 2 . In that year they built a fort named L ’ Huiiler, on
Blue River, which is now a rich mineral region. This was considered
by the Indians an unwarrantable encroachm ent upon their rights ; and
the French, to avoid hostilities, retired further up, about one bundled
miles above the “ Ouisconsang,” (W isconsin R iver,) where they built
another fort, and com m enced a settlement. T h e Indians still cherishing
prejudices against them, and becom ing very troublesome, they found it
prurient to abandon that part o f the country.
T h e death o f L ’ Ibberville happened soon after, and the affairs o f the
colony fell into great confusion. The wars o f Europe demanded all the
attention and resources o f France ; and while the king was obliged to
withhold from the colony the supplies o f men and money, he was deter,
mined to keep it out o f the hands o f his enemies, as well as to relieve
him self o f a burden. Accordingly, Louis X IV ., fry letters patent, on the
14th o f September, 1712, granted the colony to Anthony Crozat, a rich
financier; a man o f great enterprise, and who had rendered important
services to the crow n. It was confidently expected he would retrieve
the falling fortunes o f the colony, and prevent its extinction ; but, after
five years o f the most desperate exertions, Crozaf was convinced that he
had nothing to expect from Louisiana. T h e great advances he had to
make in order to keep up his settlement, soon tired him o f his privilege ;
and in 1717, he relinquished his patent to the Mississippi Company, projested by the celebrated John L aw . T h e history o f the “ Mississippi
S ch em e” is well known. After L a w ’s company had obtained the grant
o f Crozat, the most exaggerated accounts o f the inexhaustible riches
that w ere concealed in the mines near the Mississippi, were scattered
over Europe— travellers ascribed to the country riches in mines o f gold
and silver superior to those o f M exico and Peru ; and A bby Raynal says,
that in order “ to give the greater weight to these false reports, which
had already gained so much credit, a number o f miners w ere sent over to
work these mines, which w ere imagined so valuable, with a body o f troops
to defend them,.'’ Renault was sent, it is said, with five hundred miners, to
search for m inerals; and the nature and extent o f his diggings attest the
assiduity o f his researches. Not being able to find gold and silver, he
turned his attention to the raising o f lead ore, o f which, it is supposed,
large quantities were found. But the “ Mississippi B u bble” burst in 1720,
and it appears, for a long time after, that the lead mines w ere very little
attended to.
In 1774, Julien Dubuque, a mineralogist, emigrated to the then province
o f Louisiana, and settled among the Sac and Fox Indians on the Upper
Mississippi, near the site o f the present town o f Dubuque. At a full coun­
cil o f the Fox Indians, held at Prairie du Chien, in 1788, they granted to
Dubuque, called by them T h e Little Night, {La, P etite N u it,) the contents
o f a mine “ discovered by the wife o f Peosta, so that no white man or
Indian shall make any pretension to it without the consent o f Sieur Julien
Dubuque ; and, in case he shall find nothing, he shall be free to search
w herever it shall seem good to him, and to work peaceably, without any
one hurting him, or doing him any prejudice in his labors.”
In 1796, Dubuque addressed a petition to Don Carondelet, the en­
lightened governor-general o f Louisiana, stating that he had made a




Lead Region and Lead Trade o f the Upper Mississippi.

287

settlement upon the frontiers o f his government, and had bought a tract
o f land from the Indians, and the mines it contained— that having sur­
mounted all obstacles, as expensive as they w ere dangerous, he had com e
to the peaceable possession o f a tract o f land on the western bank, to which
he had given the name “ Los Mi es D ’ Espagne” — the Mines o f Spain.
H e therefore prayed a grant from the governor-general o f the lands and
m ;nes from certain points; being about seven leagues on the west bank
o f the Mississippi, by a depth o f three leagues ; and, in closing his petition,
says, in the quaint style o f that early period, “ I beseech this same good­
ness, which forms that happiness o f so many, to endeavor to pardon my
style, and to be pleased to accept the pure simplicity o f n:y heart in de­
fault o f my eloquence.”
Carondelet referred this application, for information, to Don Andrew
Todd, an Indian factor, who had the monopoly o f the Indian trade on the
Upper M ississippi; and he reported that there was no objection, provided
that Dubuque should not trade with the Indians, without his (T od d ’s) con ­
sent. G overnor Carondelet thereupon wrote at the foot o f the request—
“ Granted as is asked, (concedido comose solicila.) under the restrictions
expressed in the information given by the merchant, Don Andrew T odd.”
Dubuque remained in possession o f his grant from the time it was made,
in 1788, until the time o f his death, in 1809 ; during which time, he was
engaged in working and proving his mines. H e died in the country in
which he had lived so long, and was buried on a high blufT just below
the flourishing town which now bears his name.
After the death o f
Dubuque, the Indians continued in possession o f the country in which
the grant was situated, until they evacuated it under the treaty o f Sep­
tember 21st, 1822, when his legal representatives took possession o f the
land, and com m enced large improvements. T h e United States, however,
claimed the same land by virtue o f a subsequent purchase from the
Indians ; and in 1832 they forcibly ejected the settlers by the strong arm
o f military power.*
The greater portion o f the Upper Mississippi lead region, which may
be justly considered as the great lead region o f North Am erica, lies chiefly
in the present territory o f W isconsin. It includes, however, a strip o f
about eight townships o f land in Iowa, along the western bank of the Mis­
sissippi, em bracing a large portion o f the “ Dubuque claim .”
It also
em braces about ten townships in the North-west corner o f Illinois. T h e
portion o f this lead region in W isconsin, includes about sixty-two town­
ships. T h e whole region, therefore, embraces about eighty townships,
or two thousand eight hundred and eighty square miles.
Its extreme
length, from East to West, is eighty-seven miles, and its greatest width,
from North to South, fifty-four miles."I" T h e points farthest North where
lead ore has been found to any extent, are Blue R iver and Blue Mound,
in W isconsin Territory.
T h e Apple River D iggings, in Illinois, about fifteen miles South-east
from Galena, are the farthest South o f any mines o f consequence yet
* Those holding under the Dubuque grant, being forcibly deprived o f their possessions,
were without any legal redress, no court having jurisdiction of the locus in quo. They
therefore appealed to Congress for redress, and remonstrated against any forcible posses­
sion or disposal o f the grant as a part o f the public domain by ihe United States author­
ities ; but Congress has not yet afforded the redress prayed for, but the government has
sold a considerable portion o f the land embraced in the grant.
t Dr. Owen.




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Lead Region and Lead Trade o f the Upper Mississippi.

discovered. N o lead has been found further East than the Sugar River
D igg in gs; and on the West, the mineral discoveries are mostly confined
to the vicinity o f Dubuque.
At the time o f the purchase o f Louisiana, in 1803, our government made
great calculations upon the richness o f the mines embraced therein ; and a
law was immediately passed reserving them from sale. In the following
year, 1804, our government, by a treaty with the Sac and Fox Indians,
negotiated at St. Louis by G eneral Harrison, acquired all the land lying
between the Illinois and W isconsin Rivers, and extending from the M is­
sissippi East to Fox River. But many disputes having arisen among
various tribes in regard to the cession o f 1804, the United States, by a
treaty made in 1816, ceded back to the Indians all the country North o f
a line running W est from the Southern extremity o f Lake Michigan to the
Mississippi River, with the exception o f a reservation o f a league square
at the mouth o f the Wisconsin River, and five leagues square on or near
to the W isconsin and Mississippi Rivers. This last reservation was in­
tended to cover certain lead mines worked by the Indians, and known to
the United States at the time o f the purchase, in 1804, and o f which the
government had but a very indefinite idea in 1816.
After the acquisition o f the country from the Indians in 1804, em ­
bracing the Fevre River Mines, Congress passed a law, approved March
3d, 1807, reserving the several lead mines therein from sale, and author­
izing the President o f the United States to lease any lead mine that had
been, or might hereafter be discovered, for a term not exceeding five
years. (L aw s U. States, vol. iv., page 127.) N o leases, however, were
granted until 1822. T h e superintendence o f the lead mines having been
transferred from the Treasury to the W ar Department in 1821, leases
were granted January 4th, 1822, to some parties from K entucky; and
Lieut. Clark Bardine, o f the army, was ordered by the Secretary o f W ar to
accom pany them into the Upper Mississippi lead region, to assist them in
making their locations, and to afford them the necessary protection. Such
was the commencement o f a system which grew up outside o f all law,
and was subjected to no control but the arbitrary will o f the Secretary o f
W ar.
T h e duties o f granting leases, collecting rents, etc., instead o f
being confined to a lieutenant in the army, who it was supposed could
attend to them with but little expense to the government, were finally
extended to superintendents, special agents, clerks, surveyors, draughtsmen,
attorneys, etc ; some o f which offices w ere mere sinecures, affording snug
places for favorites. In 1835, the system fell by its own weight, and the
government ceased to collect any more rents ; but, upon the accession
o f the T yler dynasty to power, in 1841, unfortunately both for the mining
country and the government, some keen-scented office-seeker was at­
tracted bv the half-buried remains o f the old system, which he was author­
ized to exhume for the “ benefit o f all concerned.” T h e consequence
was, that the system was resuscitated in a more odious form than ever,
and fastened upon the people by a strong corps o f office-holders, all in­
terested in perpetuating it. Efforts for the sale o f the land, which had
hitherto been made, but unsuccessfully, were renewed ; but an indistinct
idea o f the great wealth o f the mineral country, and its importance to
the government, prevailed with many members o f C on gress; and that,
together with an under-current influence emanating from some o f the
Bureaus o f the W ar Department, prevented for many years the accom -




Lead Region and Lead Trade o f the Upper Mississippi.

289

plisbment o f an object so desirable. But the President o f the United
States, in his annual message for 1845, called the attention o f Congress
to the system o f managing the mineral lands o f the United States, and
recommended that they should be sold. Judge Shields, then Commis­
sioner o f the General Land Office, in his able report, exposed the iniqui­
ties and radical defects o f the system, and strongly urged upon Congress
an immediate and unconditional sale o f the lands. T h e subject, however,
was taken hold o f in earnest in the Senate o f the United States in the
session o f 1845—t), by the H on. Sidney Breese, the present able and
efficient senator from Illinois, to whose admirable and elaborate report
upon that matter I am indebted for many facts stated herein. It is astonish­
ing how a system o f no benefit to the government, but so positively in­
jurious to all the interests o f the country and o f the people, could have
been so long tolerated. The Committee o f Public Lands in the Senate,
in their report, submitted by Judge Breese, as above stated, after alluding
to the commencement o f the leasing system in 1822, go on to state—
“ From this small beginning has arisen a vast and expensive system, creating
great dissatisfaction— withdrawing more than a million of acres of most valuable
public land from sale and permanent settlement, and promoting in no one partic­
ular, in the opinion of the committee, any one important national interest. Such
is the extent of the system, with no laws to regulate it, that, up to this time, two
thousand and ninety-three leases have been granted ; of which, five hundred and
eighteen are now outstanding. The quantity of land in each ranges from two
hundred and thirty-eight acres to less, in one instance, than two acres.—the whole
having covered probably one hundred thousand acres, once possessed of timber
or mineral, or both.”
“ The selections of land supposed to contain mineral are made by the agents of
the War Department, frequently on such loose and inaccurate information as they
may obtain from the miners, or from certain surface indications, often deceptive,
on which they rely. The result is, that a large portion of the lands embraced in
their list contains no mines, yet they are withheld from sale, and, although with­
held, are settled upon for agricultural purposes only, and valuable farms made
upon them. Being reserved, they are subject to be leased; and as in that region,
and it is peculiar to it, the richest soil often conceals the best ores, adventurers
are found willing to take leases on such lands, under the authority of which they
enter upon the enclosures of the settlers and commence “ prospecting” for mineral.
This gives rise to controversy, irritation, and expensive litigation, and has con­
tributed very much to make the system as odious as it is. On the other hand,
some of the richest mines have escaped the notice of the agents, and have been
sold as other government lands, out of which also arise controversy and litigation;
for under the law, patents for land, as well as entries of land, are void, if it can
be shown that such land was known at the time of the entry and purchase to con­
tain a lead mine. Attorneys are feed by the United States to file a bill in chan­
cery to set aside the patent and entry on the allegation of previous knowledge.
The cause is continued in court for years, and by the time the government
recover it, if that is the result, it is exhausted of its ore, and valueless. Suits for
trespass are commenced, and bills for injunction filed against those who dig for
ores without a license or lease; for the agents are instructed to adopt all legal
measures to prevent persons from working the mines without leases.”
T h e Committee, after making an exhibit o f a “ corps o f federal office­
holders who had been introduced into that region without the warrant o f
express law, the number o f whom, and their emoluments and powers,
could be increased at the pleasure o f the W a r Department,” continue :—
“ Your Committee cannot but believe, that under the operations of such a sys­
tem, setting aside all consideration of the want of laws to regulate it, the onward
VOL. XVIII.----NO. III.
19




200

Lead Region and Lead Trade o f the Upper Mississippi.

prosperity of that section of our country cannot but be greatly retarded; and they
have heard, with no surprise, that it has met for years with wide, extended, uni­
versal dissatisfaction, and given birth to much exasperated feeling.
“ In Iowa, the system has not been carried on with corresponding industry.
The agents of the government have not met with a friendly reception there. The
local courts having decided that the second section of the act of 1807 does not
authorize leasing the lead mines in that territory, a general refusal to take leases
has been manifested. Your Committee has examined the provisions of that sec­
tion, and, in their judgment, the courts are correct in the construction they have
placed upon it. No authority whatever is given by it to lease lead mines in general:
but only such tracts of land containing them as were actually occupied at the time
of the enactment of the law, and nothing more.
“ In addition to this, it may be stated as a fact necessary to be known, that the
richest portions of these mineral lands are claimed by the legal representatives of
Julien Dubuque, deceased, as having been ceded to him, while a subject of Spain,
by the Fox tribe of Indians, at a full council held at Prairie du Chien, in 1788.
A grant from the Spanish governor of Louisiana, the Baron de Carondelet, is
also said to have been made to him in 1796 for the same, then known as “ The
Spanish M in e s t h a t he worked them for many years, and died in possession of
them. On them many settlers have made valuable improvements, as upon other
supposed parts of the national domain, expecting to purchase them when offered
for sale. They are reduced to the necessity of defending their possessions, not
only against the intrusions of government agents and their lessees, but also against
such suits as the assignees of Dubuque may choose to bring.
“ No interest that the government can possibly have in their mineral resources
is deemed by your Committee of sufficient importance to justify any longer the
restriction upon their sale; for if the sum total of the average annual receipts
derived from the mines in Illinois, Wisconsin, and Iowa, was equally apportioned
among them, the amount received from Iowa would not much exceed one thousand
dollars per annum. In the event of a sale, the purchasers under the government
will have a fair opportunity of litigating their titles thus to be acquired with those
claiming under Dubuque, and a long, irritating, and vexed question be judicially
and finally settled.
“ Your Committee believe that it is bad policy to introduce or continue in any
State or Territory in which the public lands are, any system, the effect of which
shall be to establish the relation of landlord and tenant between the federal govern­
ment and our citizens. Much might be said against it, but. it will occur at once,
to every one, as a dangerous relation, and which may become so strong and so
extensive as to give to that government the power of controlling their elections
and shaping all measures of municipal concern. An unjust and invidious distinc­
tion is made by it also between the farmer and the miner: the labor of the latter
being taxed to the amount in value of the rent he pays, whilst both are occupying
for beneficial purposes parts of the same section of land. There does not seem
to be any necessity for the exercise of any such power, even if it be admitted the
government possesses it, which is much questioned."
T h e Senate Committee also examined the subject as affecting the pe­
cuniary interest o f the United States supposed to be involved in it. Th ey
s a y :—
“ To arrive at a correct knowledge of their extent, it is important to observe,
that the lead region of the Upper Mississippi is, for the most part, a prairie country,
destitute of large and connected bodies of timber and of coal; and, although the
soil is of great fertility, yet, deprived of its ores and of its wood for smelting them,
it would be comparatively valueless. The timbered lands are reserved as “ con­
tiguous lands” for fuel for smelting establishments, and those who use such tracts
under government leases or permits (being tenants only for one year) have no
motives of self-interest prompting them to its economical use ; and it is, therefore,
not surprising that its destruction should be immense. Accordingly, it is found,
in the process of a few years under different tenants, many otherwise valuable




Lead Region and Lead Trade o f the Upper Mississippi.

291

tracts are entirely denuded of their timber and exhausted of their ores, and in this
condition revert to the government a worthless possession and unsaleable. What
the loss to the government may certainly be in this regard, your Committee have
no means of precisely ascertaining; but, from the extent of operations there for
the last twenty-four years, they could not estimate it at less than one hundred
thousand dollars.
“ This is upon the supposition that the lands will not, thus deprived of all that
made them valuable, sell at the minimum price at any time, and is therefore stated
as a total loss. If to this be added the enhanced price they would have sold for,
before they were despoiled, under the influence of that sometimes wild and un­
reasonable excitement and speculative views of which the desired ownership of
such land is alike the author and the object, the loss is greatly increased, and may
be safely estimated at four-fold the amount above stated. To all this is to be added
the interest on the money which the government would have received on the sale of
a large proportion of the million of acres reserved, the purchase money for which
would probably have been received long before this time. These elements.of loss
amount to more than half a million of dollars, subject only to such deduction as
the rents for the use of the land and timber really amount to, as received by the
government. Of these, the information is more certain and authentic.”
T h e amount o f rent-lead received by the United States for twenty-four
years, from Novem ber 29th, 1821, to the. 30th o f N ovem ber, 1845, was
5,545,729 pounds ; and the amount o f money received in lieu o f lead, was
$5,531 IS. T h e amount o f expenses during that time, was $68,464 50.
Estimating the price o f rent-lead received as above stated, at $ 2 50 per
hundred, and adding the amount received in cash in lieu o f lead, the total
amount o f cash received within that time, is $145,174 40. Deducting
the expenses during the same time, being $68,464 50, a balance is found
in favor o f the United States o f $7 6,70 9 90 ; which, distributed over the
twenty-four years, gives an annual product o f only $3,196 24 to the
governm ent. Those receipts, small as they were, the Committee under­
stood to be more apparent than real ; the fact being that a great part o f
the lead thus stated as received by the government, was appropriated by
some o f the agents to their own use. T h e Committee conclude that
branch o f the subject as follows :— “ From the best information, however,
w hich your Committee can obtain, they are satisfied that, under the leases
executed within the last fifteen years, the expenses o f every description
have nearly equalled the receipts, leaving entirely out o f view the positive
and irreparable injury done to the lands.”
T h e President o f the United States, in his message, as above referred
to, thus adverted to the system, its revenues and expenses for the years
1841, 1842, 1843, and 1 8 4 4 :— .
“ The present system of managing the mineral lands of the United States is
believed to be radically defective. More than a million of acres of the public
lands, supposed to contain lead and other minerals, have been reserved from sale,
and numerous leases upon them have been granted to individuals upon a stipu­
lated rent. The system of granting leases has proved to be not only unprofit­
able to the government, but unsatisfactory to the citizens who have gone upon
the lands, and must, if continued, lay the foundation of much future difficulty be­
tween the government and the lessees. According to the official records, the
amount of rents received by the government for the years 1841, 1842, 1843, and
1844, was six thousand three hundred and fifty-four dollars and seventy-four cents;
while the expenses of the system during the same period, including salaries of
superintendents, agents, clerks, and incidental expenses, were twenty-six thousand
one hundred and eleven dollars and eleven cents; the income being less than onefourth of the expenses. To this pecuniary loss may be added the injury sustained
by the public in consequence of the destruction of timber, and the careless and




292

Lead Region and Lead Trade o f the Upper Mississippi.

wasteful manner of working the mines. The system lias given rise to much liti­
gation between the United States and individual citizens, producing irritation and
excitement in the mineral region, and involving the government in heavy additional
expenditures.”
.
These facts, brought to the attention o f the country by the President,
the Commissioner o f the Land Office, and by the report o f Senator
Breese, illustrating, as they did, the practical operation o f the system o f
leasing the lead mines, induced the early action o f Congress. A law
was accordingly passed July 11th, 1846, directing the President o f the
United States to sell the “ reserved mineral lands o f Illinois, W isconsin,
and Iowa
and they w ere accordingly sold in the spring o f 1847, after
being duly advertised according to law. Titles have now becom e quieted
in the mining country, and the people, instead o f being tenants o f the
government, are now freeholders, and there is nothing now to prevent
that section from moving forward to its high destiny.
The following is a statement o f the shipments o f lead from Galena and
Dubuque, and all other points on the Upper Mississippi, for the last seven
years, and number o f pigs shipped every month— also, the estimated value
o f the lead shipped each y e a r :—

1841.
M o n th s.

1842.

1841 .

>-------------------------------------

1844.

1845.

1846.

1847 .

Number o f Pigs o f L e a d -------------------------------------- %

February .......„ ................. ........................................................................
M arch ..................................
4 ,0 8 0
8 0 ,1 2 5
.........
7 8 ,6 3 6
A p ril .................................... 9 1 , 2 9 6
6 5 ,0 8 0
73 ,4 4 9
8 2 ,7 3 7
May ...................................... 9 1 , 2 3 3
4 6 ,5 1 5 122 2 2 4
8 9 ,9 8 2

5 ,2 8 7

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

9 7 ,7 4 6

2 9 ,1 4 1

1 0 4 ,5 5 8

1 2 5 ,6 7 9

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

9 3 ,6 2 3

1 3 7 ,7 2 6

1 1 9 ,4 1 5

J u n e .....................................

5 7 ,1 1 0

3 7 ,9 5 9

74 ,4 7 5

8 0 ,7 8 4

8 7 ,0 5 8

1 1 7 .3 1 0

1 8 5 ,0 2 1

J u l y .......................................

5 8 ,8 2 0

5 4 ,4 3 6

7 7 ,3 3 3

6 6 ,6 9 9

6 8 ,1 5 3

8 6 ,5 5 5

1 0 7 ,9 1 8

August .................................
September...........................
October ................................
November ...........................

3 7 ,2 5 7

4 3 ,2 5 0

6 7 .2 3 3

5 5 ,2 0 0

1 0 7 ,9 5 7

4 7 ,1 8 5

1 6 ,0 9 2

3 9 ,0 8 1

4 5 ,4 0 0

5 4 ,2 0 3

63 ,4 2 4

5 8 ,8 6 9

7 3 ,5 3 7

4 6 ,2 8 8

5 4 ,9 4 1

6 7 ,4 7 3

6 3 ,0 7 2

7 8 ,8 8 7

7 1 ,5 0 2

5 6 ,3 3 5

5 0 ,6 4 0

2 6 ,4 7 2

3 3 ,7 3 4

5 3 ,2 8 8

71 ,7 6 7

5 8 ,4 3 6

6 7 ,5 1 4

6 5 ,0 8 0

T otal............................. 452,814 447,859 561,321 624,601 778,460 732,403 772,656
Small bar lead equal to..
2,750
840
2,410
........................................................
Shot in kegs equal t o ...,
7,840
........
5,000
.........................................................
Shipped by Lakes............................ 25,000 15,400 10,000 10,000 20,000 15,000
Total...... ...................... 463,414 473,699 584,131 634,601 788,460 752,403 787,656
ESTIMATED VALUE IX

1841
“
“

o f 452,814 pigs o f lead o f 70 pounds each
at 3 cts. is ....
2,750 “ in small bars at 3J cts. is........................................
7,840 “ in shot at 44 cts. is ..........................................

$950,909 40
6,737 50
24,696 00

Total v a lu e.....,.,....................................................................................

$982,342 90

o f 447,839 pigs o f 70 pounds each at $ 2 37J is.,........................
840 “ ill small bars at 3 cts. is...........................................

$744,532 33
1,764 00

Total value..............................................................................................

$746,296 33

1842
“

1843
1844
1845
1846
1847

o f 513.73! pigs o f 70 pounds each at $ 2 37J is............................
o f 624,601
“
“
2 824 is............................
o f 778,460
“
“
3 cts. is...............................
o f 732,403
“
«
$ 2 90 is..............................
o f 7»7,656
“
“
3 cts. is...............................

937,202
1,235,184
1,634,766
1,486,778
1,654,077

00
47
00
09
60

VALUE OF LEAD PRODUCED IN THE LEAD MINES OF THE UPPER MISSISSIPPI.
Fo r

the year 1841
“
1842.
“
1843.
“
1844.

$982,342
746,296
937,202
1,235,184

T o t a l v a lu e p r o d u c e d i n s e v e n y e a rs..




90 For the year 1845.
33
1846.
00
1847.
47

$1,634,766 00
1,486,788 09
1,654,077 60
$8,676,647 39

293

Mercantile Laic Cases.

Such is the product o f the Upper Mississippi Mines in their infancy,
yielding for seven years an annual average o f $1,239,521 worth o f lead;
and this, so far from exhausting the quantity, has served to prove the great
richness o f that mining country, and the vast amount o f lead that can be
produced— an amount sufficient to supply every demand for centuries to
com e.
e . b . w.

MERCANTILE

LAW

CASES.

GUARANTEE— PROMISE TO P A T THE DEBT OF ANOTHER.

I n the Court of Common Pleas, (Boston, Mass.,) Judge Ward presiding.

Charles E. Wiggin vs. Thomas P. Smith.
This was an action brought to recover a debt due from the defendant’s brother,
Moses M. Smith, to the plaintiff, which the plaintiff alleged the defendant had
agreed to pay. It appeared that the defendant’s brother was in business in Waterville, Maine, in 1839-40, and was owing the plaintiff the debt in question ; that
becoming embarrassed, he made a mortgage of his property to secure certain of
his creditors, among whom was his brother, but in which he made no provision
for the plaintiff and three or four other of his creditors; that shortly after making
the mortgage, the preferred creditors met, and it was agreed between them and
the Smiths that Thomas (the defendant) should take all the property and pay
them, in common with himself, fifty cents on the dollar; and to this end he gave
them his notes to that amount, and the transfer of the property to him, solely,
was consummated. Shortly after, as Moses M. testified, he requested his brother
to provide for two other debts, the plaintiff’s and a Mr. Pray’s ; but whether he
(the defendant) undertook and promised to do so, absolutely, at that time, the wit­
ness was unable to state. He added, however, that he expected the property
would yield more than the amount of indebtment secured, and that Thomas had,
in fact, since paid Pray’s debt in full. He further testified that the assets had
not yielded as much as was anticipated, and that his brother fell short some $300
of his 50 per cent dividend. The defendant was two years and upwards in set­
tling up the estate ; and the witness, himself, went into bankruptcy, and obtained
his discharge shortly after, or while the bankrupt act was in force.
The plaintiff proved, by his clerk, that after the assignment the defendant came
into his store and promised orally to pay the debt sued for; that he declared that
Mr. Wiggin need give himself no trouble about it, for he would seethe debt paid,
dollar for dollar; and, in a subsequent interview, that he would pay it in cash
when bis brother came up, or would give his note and his brother’s endorsement.
The plaintiff further put into the case the following memorandum in writing:—
“ Boston, December 15th, 1841. I hereby agree to pay the principal of a debt
now due by M. M. Smith to C. E. Wiggin, at some future time, if he does not.
T. P. Smith. The time to be designated by me when I have settled up his affairs,
now unsettled in my hands. T. P. Smith.”
The plaintiff further proved that, in an interview with the defendant and a mu­
tual friend, in the spring of 1845, the defendant admitted that he had settled up
his brother’s affairs, and that he had given the written promise just mentioned;
and, when pressed to designate a time for payment, under the agreement, that he
answered, “ a hundred years hence.”
He, however, assigned, as a reason, his recent engagement for going into busi­
ness anew, by which he was under obligation to pay no old debts. The same
witness also spoke of his treating the promise as a merely voluntary one, though
he admitted he had originally made it to save his brother’s property from attach­
ment.
Upon this evidence the defendant’s counsel contended— 1. That the plaintiff’s
declaration, which contained only the money counts and an account annexed, was
insufficient to support a cause of action founded on an agreement to pay the debt
o f another. 2. That the written agreement was only tantamount to an indefinite




294

Mercantile Law Cases.

postponement of the obligation to pay'; and, 3. That there was no sufficient con­
sideration for the promise.
W a rd , J., ruled, as matter of law, upon the two first points, that the declara­
tion was sufficient under the generally received use of the count for an account
annexed ; though, under former strictness of pleading, a more special averment
of the contract might have been requisite; that the promise of the defendant was
to be interpreted to mean a promise to pay in a reasonable time, and not a mere
righr of naming any evasive or impossible period. The third point he submitted
to the jury as a question of fact upon the evidence, instructing them that a suffi­
cient Consideration would be made out if they believed either that the defendant
made the promise in the expectation that the unsettled affairs of his brother’s
would yield anything over and above the obligations which he had assumed, or
that the plaintiff was induced to forego his legal remedies against the property of
Moses M. Smith, then in the defendant’s hands, and had suffered prejudice in con­
sequence.
The jury found for the plaintiff in the sum of $224 38, whole amount claimed.
APPROVED ENDORSED NOTES.

The “ Delta” furnishes the following decision of Judge Strawbridge, at the
Fourth District Court, in the case of The Commercial Bank vs. Brand. The
point decided may prove of importance to persons selling real estate for “ ap­
proved endorsed notes.”
The facts are briefly these:— Several years ago Geo. Buchanan and others
sold to A. & J. Wetzel, at auction, certain real estate, for which the latter gave
their notes, with Brand as payee and endorser. Several other parties were sub­
sequent endorsers. The Commercial Bank discounted the notes, and, failing to
prove notice of protest to Brand, as “ endorser,” attempted to make him liable as
“ surety,” and contended that, as surety, he was not entitled to any notice. W e
understand the law to be not clearly settled on the question.
C o m m e r c ia l B a n k of N e w O r l e a n s us. J ohn B r a n d .— The plaintiff having
failed to show notice of demand, &c., to the endorser, now insists that this was
not necessary, as the endorser, having put his name on the back of the note pre­
viously to delivery, and not for the purpose of negotiation, can only be consid­
ered as surety, and is not, therefore, entitled to notice ; and authorities from the
decisions of our Supreme Court have been referred to to sustain the position.
So far as these decisions relate to cases where those not in any manner parties
to the note, I fully acquiesce in them. If any of them have gone further, and
declare that one who has been a party to the note, and in this character endorsed
it, I greatly doubt whether it dispenses with notice of protest. From the research
time has enabled me to make, I do not find any of them have so settled it. Glad
I should be to see this branch of commercial law reformed, and cleared from
the mass of technicalities which have gathered around it, and rendered what
should be one of the plainest, one of the most abstruse. I regard this case as
approaching, in character, what is termed an accommodation note more than
any other. In this it is perfectly well understood that the endorser is but a
surety ; and yet it is most unquestionable, as a legal principle, that an accommo­
dation endorser is entitled to notice.
A thousand auction sales take place in a year— aye, ten thousand ; both real
and personal estates are advertised to be settled for by approved endorsed notes.
I have never known of a case, under such a contract, where the holder of the
note was dispensed from the obligation of giving notice— the reason given for it,
(a very familiar one in nine cases .out of ten) being that the endorser is thereby
enabled to look to the means of securing himself, is just as strong in these as in
any other case. The law of promissory notes is an exception to contracts gene­
rally, and where parties choose to place their obligations in this form, I think
they should bo held to the consequences, as in any other act of simulation, how­
ever innocent.
It has been settled, both by the Supreme Court of the United States and the
Supreme Court of this State, that where the note is marked “ ne varietur,” it is
not incumbent on the holder to look into the consideration. The plaintiffs in this




Mercantile Law Cases.

295

case, it is to be observed, are not parties to whom the note, thus endorsed, was
given. The presumption is, from the endorsement, that they took it in the com­
mon course of trade, most probably discounted it.
I cannot consent to be the first to unsettle the decisions which form, as it were,
landmarks in the law merchant, with the reflection that, if I err, there is another
tribunal to correct the error, with more time and better opportunities of informa­
tion. I give judgment for the defendant, with costs.
ACTION TO RECOVER AMOUNT OF DRAFTS— STATUTE OF LIMITATIONS.

In the Court of Common Pleas, (Boston, Mass.) N. H. Brigham vs. J. M.
Thompson.
This was an action for the recovery of the amount of two drafts, of $183 each,
both being dated Boston, January 23, 1840; one payable in twenty days, and the
other in thirty days from date, drawn by the plaintiff, and directed to Messrs.
Thompson & Heyvvood, New York, and by them accepted.
It appeared in evidence that the defendant, with Heywood, now deceased, were
doing business, under the above style, as commission merchants in New York for
several years prior to April 28, 1840; when, from the embarrassments of the
times, they executed an assignment of their effects, under the laws of New York.
In July, 1840, the defendant came into this commonwealth to reside, and has con­
tinued his residence here since. On the 23d of December, 1840, he filed his pe­
tition to be discharged from his separate and partnership debts, under the Massa­
chusetts insolvent law of 1838, and, on the 13th of January, 1841, received his
certificate of such discharge. The plaintiff, though entitled in the writ, which
was dated the 11th of November, 1846, as now resident of New Orleans, was,
at the date of the drafts, and for a year or two afterwards, an inhabitant of this
commonwealth.
The defendant pleaded, in bar to the action, the Statute of Limitations, and the
discharge in insolvency.
The plaintiff contended, before the Court, that the proceedings in insolvency
suspended the operation of the Statute of Limitations against those who were
creditors at the time of the assignment made under the Massachusetts insolvent
laws, and cited to this point Willard vs. Clarke, (7 Metcalf’s Reports, p. 435,)
and argued before the jury, that the discharge under these laws was vitiated by
the assignment, made by the defendant while a resident, of New York.
The Court instructed the jury, for the purpose of this trial, that the Statute of
Limitations was no bar to this action, and that the discharge was to be consider­
ed a valid bar, unless the plaintiff, who held the burden of proof, should satisfy
them that the assignment made by the defendant, in New York, Was made in
contemplation of availing himself of the insolvent laws of Massachusetts.
The jury returned a verdict for the defendant, and the plaintiff excepted to the
ruling of the Court.
William Brigham for the plaintiff; M. S. Chase for the defendant.
LIBEL IN AD M IRALTY— BILL OF SALE AS COLLATERAL SECURITY.

In the United States District Court—the schooner Ocean. J. N. Harding, Jr., vs.
C. A. Replier.
The libellant owned one-half of the schooner Ocean, the other half being the
property of one Eaton, of New York, who gave a bill of sale of his half to the re­
spondent, as collateral security for a debt. The libellant, while acting as man­
aging owner and ship’s husband, sent the schooner to sea, and had made some
preparations to send her on another voyage, but had left her, with no one on
board, for several days, not properly fastened, and not locked up. While the
schooner was in this condition, she was taken possession of by the respondent,
who refused to give her up to the libellant; and, under a mistake of title, claimed,
at the time, ownership of the whole vessel. Subsequently to the bringing of this
suit, the respondent abandoned his claim for the whole of the vessel, and relied
on his title under Eaton, to one-half, and claimed the better right to possession.
It was contended on the part of the libellant that the title of the respondent




296

Mercantile Law Cases.

under Eaton was void, he never having fulfilled the terms of his collateral agree­
ment ; and that if the title of the respondent was good, the libellant had the better
right to possession, as he had not abandoned the general possession and oversight
of the vessel, having equitable claims upon her for advances already made, and
in consequence of contracts for a new voyage.
S p r a g u e , J., ruled that it was not competent for the libellant to dispute the
title of the respondent under Eaton, as the bill of sale was absolute on its
face, and that it was for Eaton alone to take advantage of the forfeiture, growing
out of the collateral agreement; and considering the respondent, therefore, as
representing the other half ownership, it became a question of possession between
half owners. He said that he was satisfied that the libellant kept the vessel in a
negligent manner; so much so, that the respondent was warranted in taking pos­
session of the schooner. The question was, whether he was bound to restore her
on the application of the libellant. It was not proved, he said, to the satisfaction
of the court, that the libellant had claims upon the respondent’s half for advance,
or by reason of any contract for a new voyage, which created an equity in his
favor. He, therefore, felt bound to leave the possession where he found it, with
the respondent.
It being suggested by the libellant that this suit would not probably have been
brought had not the respondent claimed the whole vessel, the court held, that
there should be no costs prior to the amendment of the claim. The decree was,
that the libel should be dismissed, with no costs to the respondent prior to his
answer. R. II. Dana, Jr., for the libellant; C. L. Hancock, for the respondent.
CONSTRUCTION OF AN AGREEMENT TO ALLO W A CLERK COMMISSION ON PROFITS.

In the Court of the Queen’s Bench, (England,) Sittings in Banco. Phillips vs.
Cushing.
This was an action to recover the sum of money due to the plaintiff under an
agreement by which he contracted to serve the defendant as clerk in a certain
business for ten years, and the defendant promised to pay him yearly, and every
year, so long as he should continue and remain such clerk, the sum of £200, by
equal quarterly payments ; and over and above the said sum of £200, so much
lawful money as would amount to 15 per cent of the profits of the business, after
deducting all orders, debts, dues, and expenses which should be paid or payable
in respect of the business, and all interest on capital, and losses and damages
which should happen by reason of bad debts and expenses. The question in the
case was whether the plaintiff was entitled to the commission of 15 per cent at
the year on a rest then struck, or whether, as the defendant insisted, the 15 per
cent commission was payable only on a rest ascertained by setting off the losses
of the unfavorable years in the term against the profits of the more fortunate
years. Mr. Unthank appeared for the plaintiff, and Mr. Peacock for the defend­
ant. The Court was of opinion that the agreement gave the plaintiff a title to
receive his share of profits at the close of each year, and that the words “ yearly
and every year” so governed the whole of the agreement as to exclude the notion
that the plaintiff intended to take the risk of more than one year at a time. Judgment for the plaintiff.
AN AGREEMENT B T AN ATTORNEY TO CLAIM NOTHING FOR PROFESSIONAL SERVICES,
IF UNSUCCESSFUL, IS ILLEGAL.

In the Superior Court, city of New York, October, 1847. Harriet C. Osborn,
Administratrix, v. Frederick Marquand.
This was an action, brought in the name of the administratrix, to recover the
sum of $133 47, claimed as the fees of Osgood & Sherman, attorneys at law, for
their professional services in prosecuting a note for $125, about seven years be­
fore, against a third party. It was proved, on the part of the defence, that Mr.
Osgood offered to prosecute the note on his own account, and charge nothing, if
unsuccessful, which was the case.
The case was tried without a jury, and it was held by Oakley, C. J., that an
attorney, in making such an agreement, acts illegally, and cannot cotae into
court. Judgment for defendant.




297

Commercial Chronicle and Remew.

COMMERCIAL CHRONICLE AND REVIEW.
T H E M O N E Y M A R K E T — L A R G E IN C R E A S E OF IM P O R T S IN T O T H E P O R T OF N E W Y O R K F O R S IX W E E K S
FOUR

P A S T Y E A R S — E X P O R T S FR O M

L A S T — FIN A N C E S

OF

LONDON— T H E

NEW YORK

D U R IN G T H E

COTTON T R A D E

OF

M O N T H S OF D E C E M B E R A N D

E N G L A N D — B R IT I S H

R E V E N U E IN

OF

JA N U AR Y
JAN U ARY ,

1 8 4 7 - 8 — R E T U R N IN G E A S E IN T H E LONDON M A R K E T — L I S T OF F A IL U R E S IN E U R O P E FR O M 1 S T T O 3 0 t H

OF

J A N U A R Y , 1 8 4 8 — F IN A N C IA L C O N D IT IO N OF T H E U N IT E D S T A T E S — R E V E N U E OF SA M E F O R L A S T S I X

M O N T H S OF 1 8 4 7 — D E B T OF U N IT E D S T A T E S , 1 8 4 7 — LO A N OF $ 1 6 , 0 0 0 , 0 0 0 A U T H O R I Z E D , E T C ., E T C .

T h e
money market o f New York, under influences to which we last month
called attention, has become decidedly more easy. The whole trade o f the
country has been sound, and probably there never was a time when the country
paid up better than during the last winter; that is to say, the collections since
September have been as good as was ever experienced by the city dealers. Not
withstanding that the winter has been an open one, and the absence of snow has
greatly retarded the inland transportation of merchandise, the country dealers
take less time in their payments than usual, and money flowing into the city, puts
jobbers in funds to meet their engagements, and all parties become more easy :
more particularly that money flowing into the vaults of the city banks replaces
the considerable amounts which have been kited abroad. The imports at the
port o f New York for the six weeks ending with February 12th, have been very
large— 50 per cent in excess of those of last year— as follo w s—

IMPORTS INTO T1IE PORT OF NEW YORK FOR SIX WEEKS OF THE YEARS

1846 .....................
1847 .....................
1848 .....................

Specie.

Free goods.

Dutinble.

$106,778
649,620
64,599

$631,961
574,361
478,639

$6,450,761
7,520,794
13,183,354

T otal imported.

Dufies.

$7,189,500
$1,940,036
8,744,775'
1,957.981 13,726,592
3,333,566

These figures show a large increase; but it may he ascribed more to the simul­
taneous arrivals of a number of packets, than to an actual large increase of im­
portations fol* the season. The assortments and stocks thus offered for the spring
business have been good, but the opening trade was backward, notwithstanding
that the best spirit seemed to prevail, and prices at public sales were well main­
tained under active bidding. While the importation of goods is thus large, how­
ever, a material decline has taken place in the quantity of produce exported, as
compared with last year. For the months of January and December they have
been as follows:—
EXPORTS FROM THE PORT OF NEW YORK.
-------FOREIGN GOODS.------ ,

Specie.

Free.

December..................
January.....................

$1,788,867
1,738,354

$29,178
42,807

Total 1848............
“ 1847............
“ 1846............

$3,527,221
73,728
155,548

$71,985
95,149
80,679

Dutiable.

$97,923
179,692
$277,615
237,418
226,548

Domestic.

Total.

$1,944,694
2,182,389

$3,840,662
4,143,242

$4,127,083
7,254,852
4,456,145

$7,983,904
7.658,147
4,918,920

It is observable that the whole exports are this year a little more than last year
from the port; hut of that quantity, onc-half this year was specie. The exports
from the whole country are very considerably less than last year; but returning




298

Commercial Chronicle and Review.

ease in the London market in some degree holds out promise of an extended
market. W e have before remarked on the condition and causes of the state of
affairs in London, but it is necessary to bear them in mind in order to retain
a just view of affairs. The amount of money expended in Great Britain in
the years 1846-7, was £87,885,000 for railways, £10,000,000 for Ireland, and
£33,000,000 for imported food, making £130,885,000 ; or say, in round numbers,
•$654,425,000. The railway expenditure took from the usual channels of em­
ployment 570,000 persons, who, with their dependents, made a population of
2,280,000 persons employed in unproductive and unavailable works, at wages
which enabled them to consume more produce, both of home and of foreign
growth, than usual. The first expenditure was undertaken with the express and
sole purpose of employing the destitute, and enabling them to buy food. In
October, 1846, the number so employed was 114,000. In the following March,
this number had risen to 734,000, representing full 3,000,000 persons. In Eng­
land and Ireland, therefore, 5,280,000 persons were subsisting at extra wages on
the public funds, producing nothing available, and eating up the floating capital
of the country; while, through the failure of the cotton crop, raw material was
so scarce and high, as to diminish the production of goods £9,219,862. Under
these circumstances, the exchanges were so heavily against England as to sink
the bank’s bullion from £16,000,000 to £8,000,000, in October; and the wonder
is, that it did not go lower. That it did not, is owing, in a great degree, to those
financial operations of the London houses, which their extended connections and
unbounded credit enable them to carry out for the replenishment of English coffers
at the expense of other portions of the commercial world. W e have said that
the financial difficulties of England grew out of diminished exports, as compared
with the short supply and high price at which raw materials were procured.
The operation in the cotton trade is seen in the following figures:—
Cotton taken for Waste 13 oz.
consumption.
per pound.
Lbs.
Lbs.

W eight o f
yarn.
L b s.

,------------ e x p o r t e d . -------------*
Yurn.
Goods.
Lbs.
Ijbs.

Consumed.
Lbs.

1845 ....... 592,581,600 64,813.612 527,767,988 136,618,643 221,032,974 170,116,371
1846 ..... 598,260,000 65,434,687 532,825,313 159,301,482 217,693,617 155,830,214
1847 ...... 439,277,720 48,046,000 391,231,720 119,422,254 191,969,597 79,839,869
Dec. in ’47 159,182,280 17,388,637 141,593,593 39,879,128

25,724,020 75,990,345

The quantity exported is rather less than the diminution in the home con­
sumption. Now, if we compare the value of the raw material with that of the
goods exported, as declared by the shippers, and adding one-third to the same
valuation for the value of the goods consumed at home, the results are much
against the manufacturers, as follows :—
Declared value
o f exports.

1845 ..... £-26,119,331
1846 .....
25,603,693
1847 .....
22,967,000

Declared value
consumed.

Total value,

Cost o f Cotton
per lb.
Amount.

Excess in value
o f goods.

£19,610,657 £45,729,988 4J £10,802,269 £34,927,719
16,881,605 42,482,298 5
12,463,750 30,018,548
9,500,000 32,467,000 6f
11,668,314 20,798,686

The value of goods consumed is estimated in the same proportion as those ex­
ported, and one-third added. The result is, that while manufacturers paid
£866,045 more for the raw material, they got £14,139,033 less for the goods in
1847 than they did in 1845. So very material a change in their affairs must
have been very trying to them. It appears that in 1845, 30 per cent of the whole
production was consumed at home; and in 1847, but 18 per cent. This gt-eat re­




299

Commercial Chronicle and Review.

duction is not, in a year when all foreign luxuries, wines, tea, coffee, sugar,
tobacco, etc., were consumed in larger quantities than ever before, supposed to
arise from a positive decrease in the quantity of goods taken by consumers, but
through a diminution of stocks held by shop-keepers, through the operation of
the railway calls. This mania pervaded all classes, soaking up the means of all
descriptions of dealers ; and when “ the calls” began to be responded to with diffi­
culty, holders, to avoid forfeit, were obliged to draw funds from their business, and
stocks of goods bn hand diminished, as the railway payments swelled in amount.
The growing distrust induced spinners to contract their credits, and suspend
operations : and, at one time, nearly half of the cotton hands were out of employ.
The exports of England being thus unfavorably situated, the money pressure
operated first to break down dealers in produce, causing the prices to fall. Next,
a suspension of railroads, throwing numbers out of employ, and reducing the con­
sumption of foreign produce. The government had in March began to discharge
the Irish laborers at the rate of 20 per cent per month, that they might return to
agricultural employments, and, by so doing, produce more, and consume less.
The harvests, therefore, in England and Ireland, were better, and the price of food
fell. The suspension of mills and railways; and of the government expenditure,
operated upon labor by reducing its price. The new cotton crop was supposed
abundant, and its price fell 50 per cent. Food, labor, and raw material, were thus
at the command of the manufacturer in plentiful supply, and at as low rates as
were ever known. The next step was money, which was dearer in Loudon
than in all the rqst of the world. It was 8 a 20 per cent in London and 5 per
cent in New York. The large London houses have branches whose credit is
No. I. in the markets where they respectively operate, and these comprise all the
trading places of the commercial world. Each of their branches made use of its
credit in the shape of sixty-day bills and notes, to obtain money, and send it to
London. From every possible quarter gold poured into the vaults of the London
bank, raising the amount held from £8,000,000 in October, to £13,170,712,
January 22d, 1848. Precisely as the operation progressed, money fell in London,
and rose elsewhere. In New York, the paper of foreign houses gradually in­
creased until it sold 1 a 1$ per cent per month. In New York, from 5 per cent,
money rose to 24 per cent per annum ; while in London, the minimum rate fell
in the same time from 8 to 3 per cent— the bank reducing the rate to 4 per cent
January 28th. Money, the third element in manufacturing, thus again became
cheap; and with cheap capital and raw material, the hands were gradually re­
employed at reduced wages ; the result being goods which could be sold cheaper
than any before in the market. While these cheap goods were thus being hurried
abroad, the imports fell off to such an extent as to seriously affect the English
government revenues, which were as follows, from the taxes on consumable
goods:—
BRITISH REVENUE FOR THE QUARTER ENDING JANUARY 5.
Customs.

Excise.

Stamps.

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

£4,514,721
4,111,862

£.3,608,155
3,246,833

£1,740,687
1,564,855

Decrease....

£402,859

£361,322

£175,832

Alt other.

Total.

£2,622,865
2,638,246

£12,486,388
11,560,696
£925,692

The customs fell off 9 per cent, and the excise 10 per cent; an enormous de­
cline in the articles consumed for the quarter, equal to a decline in the revenue




300

Commercial Chronicle and Review.

o f £3,700,000 for the year. The financial operations, however, were to replace
in the commercial cities the money borrowed by the banking branches, without
sending back the coin. It was simply procuring an advance to England on goods
to be manufactured; and, as we have seen above, while the exports of domestic
produce from New York have declined one-half, or §3,100,000, the imports of
goods have increased §5,000,000, making a difference of §8,000,000 against New
York alone, a sum equal to the exports of specie from the country to England
from November to February. The prospect is, therefore, that England will very
rapidly recover from her depression, and that the manufacturers will realize large
profits until the revival of railway expenditure again draws upon their resources.
Under these circumstances, the position of the cotton trade would appear to be
healthy.
Notwithstanding the returning ease in the London market, the failures con­
tinue throughout Europe among merchants connected with England, although it
would appear stoppages are less numerous in London.
FAILURES IX ENGLAND AND OTHER PARTS OF EUROPE FROM JANUARY 1 TO 3 0 .

Anderson, M ‘Gregor, and Co., merchants. Glasgow.
Anderson, J., and Co., merchants, Glasgow.
Baurt, A., merchant, Frankfort.
Barnes, YV., woollen manufacturer, Milnrow, near
Rochdale.
Bass, Michel, hanker, Paris.
Batson and Son, iron and coal merchants, Dudley.
Bertram and Parkiyson, general merch., Newcastle.
Bochmer, J., wholesale druggist, Frankfort.
Boissiere, A., merchant, Algiers.
Bonnevialle, C., and Co., merchants, Algiers.
Brightman, J., and Co.. E I. merchants, London.
Cargill. Headlam, and Co., merchants, Newcastleon Tyne.
Church, Lake, and Co., merchants. Cnlcutta.
Coclietaux and Co., manufacturers, Templeuve.
Cockerell and Co., merchants, Calcutta.
Cohen, Julius, banker, Paris,
Colville, Gilmore, and Co., merchants, Calcutta.
Crozet, Nephew, and Co., merchants, Marseilles.
Cunard, Joseph, timber merchant, Miramichi.
Cux and Co., bankers, Carlsruhe.
Delaunay and Co., merchants, Havre.
Doering, drysaltery Frankfort.
Durand and Mackenzie, merchants, London.
Fajon, C., Montpellier.
Farel, —, Montpellier.
Ferguson. A., timber and hardware merch., Dublin.
Flersheim. L. II., banker, Frankfort.
Fore, B. F.. and Co., merchants, Calcutta.
Gilmour and Kerr, spinners, Glasgow.
Gontard, J. F., and Son, hankers, Frankfort.
Graham, J. and C., cotton spinners, Glasgow.
Granier, —, hanker, Montpellier.
Haas, C. C., merchant, Frankfort.

Ilnber and Co., bankers. Carlsruhe.
Hardman and Co., merchants, Liverpool.
Heidelburg Brothers, merchants, Frankfort.
Heilbutt, Reubens, nnd Co., merchants, London.
Hennekine, Louis, hanker, Mons.
Hoffman, M., merchant, Frankfort.
Hopkins, Henry, stock broker, London.
Hughesdon and Co., merchants, Calcutta.
Kantzow and Biel, shipowners. Stockholm.
Kramer and Son, general merchants, Amsterdam.
Krug, M., merchant, Lubeck.
Kusel and Co., Carlsruhe.
Lucy, John, merchant, Glasgow.
Lake. Hammill, nnd Co., merchants, Calcutta.
Lee, J. Maclenn. underwriter, London.
Lesnge and Labry, dealers in cotton goods, Paris.
Lynll, Mattheson, nnd Co., merchants, Calcutta.
Mnintz, M., merchant, Offenbach.
Maring nnd Co., Offenbach.
May. Fordyce, nnd Co., merchants, Cnlcutta.
M'Phail, A. F. A., nnd Co., spinners, Glasgow.
Mullens and Co., merchants, Calcutta.
Oxley, Dunlop, nnd Co., Bradford.
Piitt, J. C., merchant, St. Petersburgh.
Previnaire, M. T ., manufacturer, Haarlem.
Shearman, Mullins, und Co., merchants, Calcutta.
Smith. Cowell, and Co , merchants. Calcutta.
Spengel, J. B., merchant. Hamburgh.
Syers, Livingston, and Co., merchants, Bombay.
Taylor, Y\\ and A-. manufacturers, Glasgow.
Thorne, William, merchant, London.
Volkart and Lubeck, timber merchants, Gottenburg.
Waddle, 'I'., and Co., merchants, Glasgow.
Ward and Angell, leather factors, London.

It will be observed that while the operation of restoring the financial condition
of England has been adverse to the revenues of the government, it has been highly
favorable to those of the United States, swelling the customs to an amount far
above what has been received in any year since 1837. The pressure has bore
heavily upon the Atlantic merchants, but they have borne it firmly, with the ex­
ception of four foreign houses and branches, v iz : Prime, Ward & Co., Kleug- 1
den, a German, and Panaffe & Co., and Delaunay & Co., French houses. No
American merchants of importance have given way. A cotton-printing establish­
ment at Providence, and three iron-works, one at Boston, and one at Worcester, are
the most extensive stoppages at the E a st: and also an iron house in New York.




301

Commercial Chronicle and Review.

The revenues o f ‘the federal government for the six months ending with De­
cember 31st, comprising the first half of the fiscal year 1848, are as follows :—
UNITED STATES REVENUES FOR THE SIX MONTHS ENDING WITH DECEMBER.

Customs.

x

1846...................
1847...................
Increase.........

Lands.

$9,799,791 $1,063,247
16,444,132
1,805,819
$6,644,341

Miscellaneous.

Total.

Loans.

$51,011
107,033

$10,914,049
18,357,014

$9,313,700
8,927,528

$7,442,965

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

$742,602

$95,062

To this very considerable extent have the regular revenues of the country in­
creased during the first six months of the fiscal year. In the table we have given
above, of the imports and duties at the port of New York, it will be seen that the
customs continue to increase in a ratio equal to 80 per cent more than last year.
Should this ratio be maintained, the customs will reach over $40,000,000, ex­
ceeding the estimates by some $9,000,000. Prom the circumstances which we
have indicated as favoring the production in England of goods on very favorable
terms, it is by no means improbable but that late in the season importations will
continue large ; more particularly that the country seems so able and willing to
consume. Domestic cotton goods generally have not declined in the ratio of the
fall of the raw material, which is equal to l i cents per yard of cloth since Sep­
tember. The spring demand being good, the export of surplus stocks easily
suffices to maintain prices here. It is also gratifying that the agricultural pros­
perity of the past year, by which full $50,0 0,050 was added to the floating capital
of the country, has stimulated an increased demand for the public lands, nearly
doubling the revenue from that source. The debt of the federal government, De­
cember 1st, 1847, was as follows :—
UNITED STATES NATIONAL DEBT DECEMBER,

1847.

Interest. Red’ mable.
Old debt., funded and unfunded....................................
Debt o f the District o f Columbia.................................
Loan o f 1842....................................................................
“
1843...................................................................
Treasury notes prior to 1843.........................................
“
“
funded per act o f 1847.
Debt to March 4, 1845....................................................
Loan o f 1840....................................................................
1 8 4 7 ......................... .......................................
Mexican indemnity.........................................................
Bounty lo a n .....................................................................
Treasury notes per act o f 1846.....................................
“
“
1847................................... ..
Total war debt.............................................................
Grand total.

6’s
5’s
6’s
6’s

48*02
1853

G’s
6’s
3’s
6’ s
G’ s
G’s

1856
18G7

1867

Pleasure.

$130,926
1.080 000
8,343,886
6.604,231
239,789
77,178

06
00
03
3»
3L
00

4,999,149
9,173,772
341,952
84,525
984.750
13,639,500

45
00
23
00
00
00
29.183,648 65
§45,659,659 49

In addition to this, there was authorized, by the acts of 1846 and 1847,
$4,C02,828 .55, available fo is ue December 1st; and the loan now pas ed
Congress authorizes $16,000,000 more, which will swell the whole amount to
$65,862,487 95. Probably, by reason of the large revenues of the customs, this
amount will carry the government through the current year. The customs
during the month of January were mostly paid in treasury notes, by reason of
their having fallen to such a discount as made them a desirable medium of meet­
ing the'government dues. Several millions were probably absorbed in this way,
easing the market, because it was equivalent to paying off at the moment an equal
amount of debt; but, inasmuch as that the notes are re-issuable, they did not di­
minish the means of the government. The new loan of $16,000,000 will, it is
supposed, be negotiated on such terms as will preclude the necessity of sending




302

Commercial Statistics.

specie to Mexico, an operation very much like sending “ coals to Newcastle.”
The English mining interests can procure their funds from Mexico on very ad­
vantageous terms, by taking United States obligations for it, deliverable there. The
increase of United States stock, how onerous soever the payment of the interest may
be to the federal treasury, is not, under the circumstances, calculated to over­
burden the market. The floating capital of the country, on which a govern­
ment loan must necessarily rest, is increasing with wonderful rapidity. As
we have already said, the large exports of farm produce last year added
$50,000,000 to the national wealth— of which, in round numbers, $23,000,000
was in the shape of circulating coin imported, coined at the national mint, and
passed into general circulation, increasing the capital of the country by that
amount; and each year now adds immensely to the surplus available for all pur­
poses. While the basis on which government stocks may rest is thus becoming
strengthened and broader, the actual amount of stocks afloat scarcely increases.
Ohio, Pennsylvania, and New York, are adopting a course which must lead to
the speedy extinguishment of their respective debts ; and, with the exception of
Tennessee, which is pursuing a most unwise course in lending its credit to rail­
roads, after all the experience of other Sates upon that subject, most government
debts are in process of curtailment, leaving room for the national loans to find a
market. There is but little doubt but that the whole amount ($65,000,000)
authorized, will be placed easily in this market; and when we contrast this fact
with the absolute dependence upon foreign capitalists which the government pre­
sented a few years ago when in want of a small loan, it is a matter of great
congratulation.

COMMERCI AL

STATISTICS.

T H E W H A L E F IS H E R Y O F T H E U N IT E D S T A T E S IN 1847.
T he “ N ew Bedford Shipping L ist” furnishes us with the data for making up our usual

annual statement o f the whale fishery o f the United States for the past year.

The follow­

ing table exhibits the quantity o f sperm and whale oil and whalebone imported into the
several ports o f the United States engaged in this branch o f commercial enterprise during
the year 1847:—
IMPORTATIONS OF SPERM AND WHALE O il, AND WHALEBONE INTO THE UNITED STATES IN

Po r t s .

Sperm oil. W hale oil. Whalebone.
Bbls.
Bbls.
Lbs.

N ew Bedford.
Fairhaven......
Mattr.poisett..
Sippican..........
W areham ......
Westport.........
Holmes’s Hole
Edgartown.....
Nantucket__
Barnstable......
Provincetown.
Boston.............
Lynn...............
Fall River......




56,437
12.032
1,369
488
1,049
1,883
629
2,440
23.387
238

2.021
3,859
75

188

Po r t s.

1847.

Sperm oil. W hale oii. Whalebone.
Bbls.
Bbls.
Lbs.

98,735 1.568,200 Bristol.............
272
130
...
11.280
91,700 Warren...........
1,441
5.10G
10,900
574
3,600 Providence......
514
8,854 127,500
104
N ewport.........
1,743
1,148
...
1,644
705 18,460 146,900
5,900 Stonington....
1,485
840
11,414
59,600
13,400 M ystic............
2.902
32,700 N ew London.
4,755 76,340 382,500
3.939
230
1,365
4,000
39,900 Bridgeport.__
2.021
8,000 Sag Harbor....
3,257 51,599 279,900
Greenport......
633
9,880
80,422
8
20
Cold Spring...
201
2,797
31,458
445,100 New Y ork.....
68
1,742
2,000
8,000
1,575
Total.
120,753 313,150 3,341,680
28

303

Commercial Statistics.

W e here annex a table of the imports, & c., for the seven previous years, for the purpose
o f comparison:—
Years.

Sperm oil. W hale oil. Whalebone.

1846...... ..
1845...... .
1844...... ..
1843...... ..

95,217
157,917
139,594
166,985

Sperm oil. W hale oil. W halebone.

Years.

2,276,939 1842...... .
3,167,142 1841...... ..
2,532,445 1840...... .
2,000,000

207,493
272,730
262,047
206,727

1,600,000
2,000,000
2,000,000

161,041
207,348
207,908

165,637
159,304
157,791

STATEMENT OF THE TONNAGE OF VESSELS EMPLOYED IN THE WHALE FISHERY JANUARY 1, 1848P o rts.

New Bedford.
Fairhaven__
Westport.......
Mattapoisett..
Sippican.........
Wareham......

Ships. Bqs. Brigs. Schrs. Tons.

i

247
50

1 5 ,9 7 7

1

9

6

1

111

4

2 ,6 7 6

5

2 ,0 7 9

2

1

603

2

1

804

4

Holmes’s Hole
Edgartown....
Nantucket.....
Yarmouth......
Provincetown.
Plymouth.......

Ships. Bqs. Brigs. Schrs.

Freetown.......
Somerset .n__

2

1

949

6

2

2 ,4 0 8

68

1

2

24 ,0 7 0

7

1 ,9 8 8

1
2

90

6

1

175

Tons.
285

1
1

137

1

W arren .........
Providence....
Newport.........
Stonington.....

1 ,4 7 0

New London.
Bridgeport.....
Sag Harbor...
Greenport......
N ew Suffolk..
Cold Spring...

222

21

7 ,0 7 1

6

2 ,2 2 8

6

1 ,8 2 6

25

7 ,7 9 5

15

4 ,6 8 0

i

59

6

2 3 ,0 5 4

2

709

50

1 7 ,8 2 3

ii
i

3 ,2 5 2
227

3,315

8

mo

1

Lynn...............
Salem.............
Portsmouth....
Fall R iv er....

P orts.

8 0 ,9 4 6

2

720

2
1
5

660

T o t a l, 1 8 4 8
“

1847

348

1

1 ,7 4 3

D e c .,

1848

14
15

25

17

2 1 0 ,5 4 1

655

31

20

2 3 0 ,2 1 8

—

—

—

—

603

1

52

6

3

1 9 ,6 7 7

EXPORTS OF WHALE OIL FROM THE PORT OF NEW BEDFORD TO FOREIGN PORTS.

1841.

1842 .

1843.

1844.

1845.

1846.

Bbls.

Bbls.

Bbls.

Bbls.

Bbls.

Bbls.

1847.
Bbls.

32,278

26,005

17,201

30,093

25,954

31,894

10,144

The exports o f whale oil from the port o f N ew Bedford in 1847, were— to Prussia.
3,347 bbls.; to Holland, 6,797 bbls. In 1846, the exports o f oil from this port were 3,841
bbls. o f sperm, and 31,894 bbls. o f whale.
EXPORTS OF WHALE OIL FROM NEW LONDON.

From New London, the exports o f whale oil and bone in 1847 were— to Prussia, 1,794
bbls. o il; to Germany, 1,529 bbls. oil, and 5,412 lbs. bone.
PRICE OF WHALE OIL AND BONE FOR SEVEN YEARS.

T he following is a statement o f the average prices o f sperm and whale oil and whale­
bone for the year 1847, together with the average price per year for seven years past:—
Years.

Spm. oil. Wh. oil. W h ’bone.

1847.........
1 84 6 ...... .■
1 8 4 5 ........,
1 844........

C e n ts.

C e n ts .

C e n ts .

10 14
871
88
904

36
33}
325
364

3U4
34
33}
40

Years.
1 84 3 ..........
1 8 4 2 .........
1 84 1 ..........
1 8 1 0 .........

Spm. oil. W h . oil. W h ’ bone
C e n ts .

C e n ts .

C e n ts .

63
73
94
100

344
33}

35}
23
19?
19

314
304

The quantity o f sperm and whale oil and whalebone on hand January 1, 1848, as far
as known at the time o f making up the report, was— o f sperm oil, 5,696 bbls.; whale oil,
18,001 bbls.; whalebone, 543,500 lbs.
NORTH-WEST COAST FISHERY.
Years.

Ships.
Mo.

1839..........
1840..........
1841..........
1842..........




2
3
20
29

Average.
Bbls.

1,400
587
1.412
1,627

Total.
Bbls.

Years.

2,800 1843...........
1,760 1844...........
28,200 1845............
47,200 1846...........

Ships.
Mo.

Average.
Bbls.

Total.
Bbls.

108
170
263
292

1,349

146,800
259,570
250,600
253,800

1,528
953
869

304

Commercial Statistics.

During the year 1847, 185 ships are estimated to have cruised upon the North-west.
Coast. Twenty-one have been reported in, having taken an average o f 974 bbls. whale
oil during the season. These report upon the North-west Coast in August 25 ships, with
an average o f 1,160 bbls. the season, making 46 ships heard from, with an average of
1,077 bbls.

C O M M E R C E , R E V E N U E , P O P U L A T IO N ,

etc .,

OF T H E U N IT E D S T A T E S .

The following statement o f the commerce, revenue, population, &c., of the United
States, from 1790 to 1847, inclusive, is derived from official sources:—
STATEMENT OF THE COMMERCE, REVENUE, AND POPULATION OF THE UNITED STATES FROM 1 7 9 0
TO 18 47 .

Years.

1 7 9 0 .....................
1 7 9 1 - ..............
1792.....................
1 7 9 3 .............................
1 7 9 4 .............................

1795.....................
1796.....................
1797.....................
1798.....................
1799.....................
1800.....................
1801.....................
1802.....................
1803.....................
1804.....................
1805.....................
1806.....................
1807.....................
1817.....................
1818.....................
1819.....................
1820.....................
1821.....................
1822.....................
1823.....................
1824.....................
1825.....................
1826.....................
1827.....................
1828.....................
1829.....................
1830.....................
1831.....................
1832.....................
1833.....................
1834.....................

Imports consumed in the
Total
U. States,
imports.
exclusive o f
specie.
$23 000,000 $-22,400,844
29,200,0 50 28,487,959
29,746.902
31.500.000
28,990.-128
31,100,000
34.0O0.O00
28,073.767
01,200,796
09.750,208
81,436,H;4
55,136,164
48.379 406
75,379.406
3.),5)1,700
68.551,700
36.548,148
79.0)9,148
52 121 891
91.252.708
64,720.790
111,3 53,511
76,333 333
40,558.3 2
64,666,GOO 51.072 594
48.7(8.403
85 000 000
120,000,000
09 420,981
129 410,060
09.124.764
78 850,442
138.500,000
79 891.931
99 253.01)0
121,750 0 *0 102 323 304
87.J25.000
67,949,317
50,441.971
74.469,040
43,798,405
02 5~’5,724
68,395 073
83.241,511
51.310,736
77,579,267
53 846 567
80,549 007
96.340.075
00 395,722
84 9 4.477
57,(52,577
54,901,108
79,484 068
66,975,505
88,509,824
74.492.527
54,741.571
49,575.099
70.870. 920
103,191.124
82 8)8,110
HU .0-29.206
75 327.088
108,118.311
83.470.007
86,973.147
126.521,332
149.895,742 122.007 974
158,811.392
140.989.217 113,310,571
113,717,404
86,552,508
101.092,132 145,870.8)0
86,250,335
107.141,519
127 946,177 114,770,309
100.162,087
87,990,318

1837.....................
1838.....................
1839.....................
1840.....................
1841.....................
1842. to Sept 30.
1842. 3 months to
December 30.. | 2f.5S4.599
1843. 6 months—
Jan. to Jun e.. | 43,169,2-0
1844..................... 108 435,035
117.251.5:4
1845.....................
1840.....................
121,091.797
1 8 4 7 .............................
146,545,038

.......

.......

.......

.......

.......

Tonnage,

478.377
502.146
504,457
520,704
028,618
747 965
831,899
870,913
898 323
939.409
972,49-2
947,492
892,104
949 172
1,042.404
1.140.308
1,208,756
1.208.518
1,399.912
1,2-25,185
1,360,751
1,280,107
1,298,958
1.324,690
1,336,566
1.389,163
1,423,112
1,534.191
1.020.008
1.741.392
1,260.798
1,191,776
1.267.847
1,439,450
1,606,151
1,758.907
1.824,940
1.882,103
1,896,050
1,995,640
2.(96,479
2,180.764
3,1311,774
3,092,391

1,713,112

28,115,493

7,440,112

506,930

2,174,802

24,862,753

3,426,223

56,230,987

14,880,223

1,013,801

2,158,603

96.390,548
105,599.541
Ilf) 048.859
116,258,310

0,214,058
7,584,781
7,805.266
6,160,039

111.260.046
5.830,429
4,070 24-2
114.040,606
113.488.510
3,777.732
158,048, G22 24,121,339

5,454,214
8 600 495
3,955.268
1,907,739

2,280,095
3 447,002
2.562,085
2,839,046

12,431.376

Years.
Population. IYears
1790.................................. 3 921.326 1810.
1800................................ 5,319,702 |1820.




Foreign merExp. specie,
chandise exincluding
ported, exTotal
Imports o f American
elusive o f
exports,
specie.
coin
specie.
exported.
$.439 15G
..............
512.041 $19 012 041
20,753.09(5
1,753.098
2,109,572
26.109,572
6,526, -233
33,026,233
8,489,4.2
47 989,472
20.300.000
67,064,097
56,850.020
27.000.000
33,000 000
01,527,097
45,5*23 000
78,065,522
70,971,780
39,130,877
94,115,925
46,(42,721
35.774,971
72,483,100
13,594,072
55.860,033
3 i,23l 597
77,099,074
53 179 019
95.566.021
(50.283.236 10l,53li.903
59,643,558 108 343,150
19 358.069
86,071,509
93 281.133
19,426,696
19,165,083
70,142,521
18.088.029
G9.091.609
10,824,429
04.974,382 $3,064,890 $10,478,049
11,476,022
3,3l:9,846 10,810,120
72,160.281
5.097,806
21,170,635
74.699.030
6,372,987
8,379.835
18,322,005
75.980,657
7,014,523
6,150,705
23,793 588
99,535 388
8,797,055
77,595,322
6.886,906
4,704,533
20,440,934
16.431,830
8,151,130
82,324,827
8,014,880
7,489,741
14.044 578
72.204.686
8.243,476
7,403,612
12.247.344
72,358,671
4,934,030
13.145,857
73.849.508
8,155,964
2,178,733
7.305.945
9.014 931
13077,0:9
81.310 583
5,907,504
19,794 074
87,176.943
5.056,340
7,070,368
2,011,701
17,577,876
90,140,433
21.G30.553 104,336,973 17,911.632
2,076,758
14,758.321 121,693,577 13.131,447
0,477,775
17 707 702 128,603 040 13.401,881
4,3-24.330
17,102,232 117,419 376 10,570.414
5,9711,349
9.417,000 108,480,010 17,747,110
3,5 ,8,016
10,620.140 121,028.410
5,575,263
8,770.743
8,882,813
8,417,014
12,0!:8,371 132,085 940
4,988.033 10,034.332
8,181.235 121,851,803
4,087,010
8,078,753 104,091,534
4,813,539

Population. I Years.
Population.
7.239,903 1830............................ 12 800,620
9 054,596 | 1840............................. 17,009,453

Commercial Statistics.

305

E X P O R T OF B R E A D S T U F F S F R O M T H E U N IT E D S T A T E S IN 1847.
FOREIGN EXPORT OF WHEAT AND RYE FLOUR, CORN MEAL, WHEAT, CORN, RY E , ETC., AND SHIPBREAD, FROM THE UNITED STATES IN

1847.

A S T A T E M E N T OF T H E Q U A N T IT Y AND D E S T IN A T IO N OF T H E F O L L O W IN G A R T IC L E S E X P O R T E D FROM
T H E U N IT E D S T A T E S T O F O R E IG N C O U N T R IE S D U R IN G T H E Y E A R C O M M E N C IN G ON T H E 1S T OF J U L Y ,
1 8 4 6 , A N D E N D IN G ON T H E 3 0 t H O F JU N K , 1 8 4 7 .

AMERICA.
A

British N. Araeri- The West Indies
can Colonies.
generally.

r t ic l e s .

..bbls.
.bush.

Flour..
Indian com .
Rye meal..

small )
.value £

South America

North Ameri

generally.
328,937

ca generally.
66,993
200
23,925
10,354
180

272,299
919,058
119,615
39,936
27,401

483,571
15,105
593,029
176,418
3,480

$24,312

$113,355

$2,291

$18,599

20,506
220

54,788
13,267

1,711
7,437

21,218
673

Ireland.

3,964
2,750
101

A r t ic l e s .

England and
Scotland.

Flour.....................
W heat...................
Indian c o m ...........
Corn meal.............
Rye meal..........................
Rye, oats, and other small
grain and pulse...value
Ship bread.............. bbls.
“
................ kegs

2,141,551
2,078,652
7,527,586
426,070
4,030

342,495
465,911
7,998,939
287,013
2,362

612,641
749,242
7,248
4,401
3,006

$565,322

$66,580

$50,697

$752,081

34,736
6,647

11,994
556

3,771
16

1,728
548

France.

Spain and
Portugal.

Other parts
o f Europe.

1,312

113,429
170,421
22,203
605
8,332

4,892

OTHER COUNTRIES.
A

r t ic l r s .

Flour.......................... bbls.
W heat.......................bush.
Indian c o m ......................
Corn meal..................bbls.
Rye m eal-.........................
Rye, oats, and other small
grain and pulse, .value
Ship bread................ bbls.
“
kegs

Asia
generally.

Africa S’ th Seas and
generally. Pacific O c’n.

8,674
1,362
175
77

36,800

764

24,474
436

... .

$4,596

$2,368

131

3,166
136

5,609
1,482

1,753
100

,...

. ...

Total
quantity.

4,382,496
4,399,951
16,326,050
948,060
48,092

Total
value.

$26,133,811
6,049,350
14,395,212
4,301,334
225,502
1,600,962

160,980 )
31,082 l

Total value.............................................. ...................................................

$53,262,437

T he foregoing statement was prepared at the Treasury Department for the Philadel­
phia “ Commercial List.” It will be seen that the total value o f exports amount to the
enormous sum o f $53,262,437 in a single year.
Flour.......................
Wheat.....................
C orn........................
Corn meal..........: ................bbls.
bbls.

The total exports were—

4,332,496 Rye flour...............
4,399,951 |Ship bread...............
u
16,326,050
948,062 [ Rye, oats, & c........

Total value o f the above articles............................................

48,982
160,980
31,082
$1,600,962
$53,262,457

During the year 1846 the exports were—
Flour.......................................bbls. 2,289,476 Rye meal................................bbls.
W heat....................................bush. 1,613,795 Ship bread......................................
Indian c o m ....,............................ 1,828,063
“
.............................. kegs
Corn meal..................
bbls.
298,790 |
The total value o f which was..................................................

$15,987,156

Increase in the value o f the exports in 1847 over those o f 1846, $37,275,271.
V O L . X V I I I . -----N O . I I I .




20

38,530
114,992
25,505

308

Commercial Statistics.

O f the quantity exported in 1847, Philadelphia furnished the following quota:—
Flour......................................... bbls.
Rye flour..........................................
Cora meal........................................

461,347
12,557
294,332

W heat................................. bash.
C o m .............................................
Rye, oats, beans, and peas........

612,312
1,336,295
12,779

R O C H E S T E R F LO U R T R A D E .
A t the close o f the season o f canal navigation in 1847, the “ Rochester Democrat”
furnished its usual annual statement o f the flour trade of that city, which we now transfer
to our Magazine as matter o f present information as well as future reference.

The fol­

lowing table exhibits the quantity shipped east by the Erie Canal for the seasons o f 1845,
1846, and 1847
April............bbls.
May....................
June...................
July.....................
August...............

1845.

1846.

41.925
48,519
34,069
41,159
52,218

26,071
57,404
42,506
37,869
51,437

1847.

1845.

1846.

1847.

......... September..bbls. 73,751 90,656 74,201
94,536 October............... 129,199 104,839 111,036
64,239 November......... 102,478 129,450 103,713
78,390
61,965
Total.............. 518,318 540,232 588,080

It will be seen that the shipments are steadily on the increase. The excess o f this year
over last is 47,748 barrels ; over 1845, 69,662 barrels. This result is different from the
anticipations o f most operators at the opening o f the milling season. T he extraordinary
foreign demand during the last two years called forth increased energy on ihe part o f deal­
ers during those two seasons, and augmented the quantity sent forward. T he demand
having subsided in a measure, and the last crop proving deficient in quantity, it was rea­
sonable to anticipate a decrease in the amount shipped. But the result is the reverse. The
increase has been nearly equal to former years, as will be seen by the following statement
o f the aggregate number o f barrels shipped during the navigation season for four years:—
1844.

1845.

400,378

518,318

1846.

1847.

540,232

588,080

T o ascertain about the quantity o f flour manufactured at this point, it is necessary to
add to the amount shipped by canal the 20,000 barrels forwarded east by railroad during
the suspension o f navigation— 80,000 for home consumption, and a few thousand barrels
Exported by lake. This will show an aggregate o f about 650,000 barrels turned out by
the Rochester mills, yielding, with the bran, shipstuffs, &c., to the State, a revenue of
$

200 , 000.

T he wheat for the supply o f the Rochester mills is derived from five sources; namely,
Erie Canal, Genesee Valley Canal, Tonawanda Railroad, Lake Ontario, and wagons from
the country adjacent. The following table will show the receipts, in busjiels, by the canal:—
April........
M ay.........
June........
Tnly
August....

1845.

1846.

35,594
65,398
69,676
41,159
136,464

20,781
62,912
102,525
37,869
89,352

1847.

1845.

1846.

1847.

September. 215,750
225,960
208,547
119,837 October........ 226,760
226.960
290,439
100,820 November. 251,475
267,737
365,391
480,615
T otal.... 1,042,426 1,034,096 1,879,110
212,467

Aggregate receipts by both canals, in bushels, for four years:—
1844.

884,141

1845.

1,169,281

1846.

1847.

1,203,546

1,879,110

Opinions have varied widely as to the bulk o f the wheat crop this year in Western New
York. If we take the receipts by the Genesee Valley Canal as a basis, w c should con­
clude that the crop, in the section o f country bordering on that outlet, was greatly defec­
tive, because the receipts from that quarter are much below those o f last year. It is ge­
nerally believed that the quantity remaining in the hands o f farmers is very small. The
receipts by the Erie Canal have increased over 25 per cent.
W e have not the figures at hand to show’ precisely the quantity o f wheat received by the
Tonawanda Railroad. Up to this time, it will not fall far short o f 150,000 bushels; and
by the time the annual report for 1847 is made up, it will probably reach, if not exceed,




307

Commercial Statistics.
the aggregate o f last year.
follow s:—

The supply from this road, during two years past, was as

1845.

1846.

172,600 bushels.

168,600 bushels.

Lake Ontario furnishes but a small quantity— this year about 60,000 bushels. Millers
have never turned their attention to that quarter for supplies, except occasionally, by way
o f experiment. The result has always been satisfactory ; but as Rochester has so small a
marine, and Buffalo always has a large stock in store, the lake has been too much neglect­
ed. W e have no means o f ascertaining the amount o f wheat received at this point by
teams. The mills, to manufacture 650,000 barrels o f flour, require 2,825,000 bushels of
wheat. By a recapitulation o f the tables we have presented, we can ascertain nearly the
amount sold in the streets:—
Amount necessary to supply the mills............................ ..............................-bush. 2,825,000
Receipts by canal......................... ....................................................
1,870,110
By railroad.........................................................................................
150,000
Bv lake......................................................... ................ ......... ..........
60,000
-------------- 2,089,110
Amount supplied by team.................................................................................

735,890

P. S.— W e find, upon inquiry at the Collector’s office, that several boats laden with
wheat have arrived since the 1st instant, when the canal was announced as closed. This
will add a few thousand bushels to the amount received by canal. W e shall recur to*the
subject, and present some additional statistics, at the close o f the year.

C N IT E D S T A T E S E X P O R T OF C O T T O N A N D O T H E R PRODU CE.
STATEMENT SHOWING THE VALUE OF COTTON, AND OTHER DOMESTIC TRODUCE, EXPORTED FROM

1790 t o 1807 ;
1 st , 1847.
Years.

1790
1791
1792
1793
1794
1795
1796
1797
1798
1799

d e r iv e d

from

Value o f Other domestic
Cotton exp. produce exp.
D o lla r s .

D o lla r s .

58.000
52.000
41,428
160.000
550.000
2,281,250
2,226,500
1.292.000
3,639,999
4.180.000

19,608,000
18,458,000
18,958,572
23,840.000
25,950,000
37,218,750
38,537,597
28,558,206
24,867,098
28,962,522

th e

tr e a su r e r ’s

Totni
exports.
D o lla r s .

Years.

departm ent,

W a s h in g t o n ,

Value o f Other domestic
Cotton exp. jtrnduce exp.
D o lla r s .

D o lla r s .

de c e m b f .r

Total
exports.
D ollars.

19.666.000 1800 4,984,000 26,856,903 31,840,903
18.500.000 1801 9,160,000 38,277,204 47,473,204
10, 000,000 1802 5,225.000 31,483,189 26,708,180
24,000,000 1803 7,809,000 34,396,961 42,285,961
26.500.000 1804 7,620,000 33,847,477 41,467,477
39.500.000 1805 9,276,666 33,110,336 42,337,002
40.761.097 1806 8,250,000 33,003,727 41,253,727
29,850.206 1807 14,233,000 34,466,592 48,699,592
28.527.097
33,142,523
81,074,843 530,411,134 611,485,977

P H IL A D E L P H IA Q U E R C IT R O N B A R K IN S P E C T IO N S .
W e copy, from Childs’ Commercial List, the following statement o f the amount of
Quercitron Bark inspected at the Port o f Philadelphia in the year 1847, as furnished by
John W . Ryan, Esq., inspector; to which the editor o f the List has added, as will be
seen, the amount inspected annually since 1832:—
Years.
1 8 3 2 .......
1 83 3 ........
1 8 3 4 .......
1 835........
1 8 3 6 .........
1 8 3 7 ........
1 8 3 8 ........
1 839........ .

Hogsheads. Tierces. Barrels.
3
2 ,233
159
3,414
1
169
3,230
45
414
3,689
126
127
3,648
128
8
4,109
10
7
5,724
60
45
8 ,636
572
124

Years.
1 8 4 0 .......
1 841........
1 8 4 2 ........
1 8 4 3 ........
1 8 4 4 ........
1 8 4 5 ........
1 8 4 6 ........
1 8 4 7 ........

Hogsheads. Tierces.
7,118
213
5,437
84
3,852
25
2 ,173
27
2 ,872
5
2 ,889
26
4
2 ,8 2 6
4,161
54

Barrels.

12

5
11
1
1

38

The quality and weight o f the bark inspected daring the past year were as follows:—




308

Commercial Statistics.

a,846
1,289

24
30

3
35

26

0

0

4,161

54

38

Lbs.

Tons.

Cwt.

Q.rs.

1st quality N o. 1, weighing
“
No. 2,
2 d quality N o. 1,
“

1,998

19

2

17

866

13

2

25

17

13

1

20

Total weight, 1847........
“
1841........
«
1845........

2 .9 0 !

6

18
3

1
1

24

1,898

3

12

Hogsheads. Tierces. Barrels.

1,982

0

P R O D U C TIO N O F CORN IN R U S S IA .
W e find, in a late number o f the London “ Economist,” a communication signed D.
Forbes Campbell, who, it appears, applied to a Russian nobleman familiar with the subject,
and who had access to official returns, for an estimate o f the average quantity o f grain
annually produced and consumed in Russia. Mr. Campbell says:— “ I send you a trans­
lation o f his reply, which will, I am sure, prove acceptable, when I apprise you that it is
from the pen o f the same distinguished personage to whom Balbi* acknowledges himself
principally indebted for the statistics o f the Russian empire, contained in his great geo­
graphical work.”
The present population o f Russia in Europe i9 65,000,000, o f whom about 15,000,000
are males engaged in agriculture. On an average, there are annually sown with

Winter Grain— 18,750,000 hectares, yielding at least 9 hec-

'----------- Hectolitres.------------ »
tolitres per hectare, or............................................................... 168,750,000
Deduct seed at the rate o f 2 hectolitres per hectare...............
37,500,000
Leaves a clear produce o f 4$ fold, or.................................................................
131,250,000
Spring Grain— 18,750,000 hectares, yielding at le st 1.’ £
hectolitres per hectare, or......................................................... 253,125,000
Deduct seed at the rate o f 3 hectolitres per hectare...............
56,250,000
Leaves also a clear produce o f 4$ fold, or................................ ......................... 196,875,000
Together.................................... ............................................
Or equal to 112,844,239 imperial quarters.
The annual consumption o f 65,000,000 o f population may
be taken at.................................................................................. 195,000,000
T he annual consumption inbrewing and distillation.............
25,000,000
The annual consumption for food o f horses, cattle, & c., say
o f 25,000,000 head, (exclusive o f refuse from breweries
and distilleries,) grass and hay................................................
50,000,000
The ann.ial consumption for fattening cattle, pigs, poultry,
& c ................................................................................................
7,000,000
Estimated total internal consumption o f the country.......................................
Leaving, on the most moderate computation, an average an­
nual surplus for exportation o f................................................
Or 17,582,200 imperial quarters.

328,125,000

277,000,000

51,125,000

In the years when there is no foreign demand for this surplus, a portion o f it is em­
ployed (with little regard to economy) in fattening cattle for the butchers for the sake of
the tallow. Much is absolutely wasted, and the remainder, left unthrashed, becomes the
prey o f the birds and mice. I f a foreign market could be found for it, Russia could easily
export annually 50,000,000 quarters o f grain.
N. B.— 1 hectare =t 2*4712, or nearly 2$ English acres. 1 hectolitre = 2 7512, or a
little more than 2$ imperial bushels; from which it follows that, on the foregoing data, the
average yield o f winter corn is 10 bushels per acre, the seed 2£ bushels per acre, and the
nett produce 7| bushels per acre; and the average yield o f spring com 15 bushels per
acre, the seed 3J bushels per acre, and the nett produce 11§ bushels per acre.
* See “ Introduction to Balbi’s Geography,” where that author designates my informant
as an “ estimable officier d’etat-major en retraite, que de longs voyages et de profondes
etudes ont mis en etat de juger sa patrie avec justice et impartialitie,” &c.




309

Commercial Statistics,
SH IP P IN G B U IL T A T B A L T IM O R E IN 1847.

W . G. Lyford, Esq., the industrious editor o f the 44Commercial Journal,” & c., fur­
nishes in a late number o f that print the denomination, names, and tonnage o f the several
vessels built at the port o f Baltimore during the year 1847— amounting, as shown in the
aggregate, to 12,868.06 tons; exceeding, by 1,669.47 tons, the tonnage o f 1846. Mr.
Lyford bears testimony to the excellence o f the vessels built at Baltimore, and states that
he has never seen so large a number o f vessels on the stocks in the various ship-yards of
Baltimore at this corresponding season (December, 1847) as at present.

Their united

tonnage he estimates at from 3,000 to 4,000 tons.
W e here annex Mr. Lyford’s tabular statement o f each vessel, with its name, denomi­
nation, and tonnage, built at Baltimore during the year ending in December, 1847:—
o
3 31
ago
Jan. 13
“
13
«
23
“
26
Feb. 5
“
5
«
9
“
11
“
12
«
16
“
19
“
26
Mar. 18
“
18
“
23
“
27
Ap!. 3
“
6
“
7
«
8
“
8
<• 20
«
20
«‘ 30
May 10
«
15
«
21
«
26
"
31
June 1
“
8
“
16
“
21
July 1
“
2
44
7
“
13
<■ 21
“
27
“
28

*-3
sr 3
Name and Denomination.
Schr. Thomas Corner—
Bark Cornelia L. Bevan.
Brig George W . Russell
Sloop Lady Helen...........
Schr. James &. Augustus
Brig Z o e ..........................
Schr. Ad aline...................
“ Ionic........................
Brig Colonel Howard....
Schr. Lavinia Hopkins...
“ Gazelle....................
Brig Bathurst..................
Schr. St. Mary’s..............
44 William E. Bartlett
“ Maryland................
44 Chesapeake............
44 Charles May...........
Brig General W ool.........
Schr. Phila M. Sears......
Brig Garland..................
Schr. Visiter.....................
Brig Dos de A rgoste....
Schr. R. C. W aite............
44 Sarah Bibby...........
44 Sonora....................
44 Susan E ..................
44 R ichm ond ..............
44 Brilliant..................
Brig El Dorado...............
Sloop Captain W alker...
Brig Kingston.................
Schr. William Penn........
Bark Oriole......................
44 Elizabeth................
Schr. Greek.......................
Schr. Talbot.....................
44 Alvarado.................
Bark Ruth........................
Schr. Abigail....................

: c- •
53.35
330.68
197.85
8.05
74.36
196.40
85.26
91.05
332.62
84.70
88.68
161.53
153.76
53.20
68.74
75.27
5511
195.87
69.52
148.29
76.05
124.78
84.60
76.56
106.61
86.96
78.83
97.75
182.35
1159
213,63
84—
223.46
230.64
153.38
208.62
86.70
82.80
344.31
139.04

Total o f 80 vessels in 1847...........
“
74
“
1846..........
“
80
«
1845-.........
“
38
“
1844...........
“
17
“
1843-.........




O
3 3?
3»8

Name and Denomination.

7
• « a*
July 28
Aug. 5
“
5
“
12
“
13
“
19
“
19
“
19
“
20
“
25
“
31
“ 31
Sept. 2
“
ii
«
18
«
22
“
39
Oct. 5
“
7
“
12
«
14
“
22
“
22
“
28
Nov. 1
“
1
«
3
44
4
“
4
“
8
“
11
“
17
“
23
Dec. 1
“
1
44
7
“
10
“
10
“
17
“
18

Schr. James B. P erry....
Bark Kirkland.................
Schr. Carolina..................
Bark Stella......................
Brig Chatsworth.............
Schr. Honolulu................
44 Home......................
“ Buena Vista............
Bark Marv Teresa..........
Schr. Southerner..............
Brig Fabius......................
Schr. Citizen....................
Brig Kite..........................
Bark Charter Oak...........
Schr. John Hardy............
Bark Kirkwood................
Brig General Scott.........
Sloop General Taylor....
Schr. Miranda..................
“ F. R . Hassler........
44 Fulton......................
Bark Touro......................
“ W . II. D. C. Wright
“ Lyra.........................
Brig Ospray....................
Schr. John.........................
Sloop Mary Jane............
Bark Seneca....................
44 Rainbow.................
Schr. M alcolm .................
“ General Worth......
44 Georgiana...............
Brig F lora......................
Schr. Edwin Farrar.........
44 Corinthian...............
44
Ship
Brig
44

Jane.........................
James Corner....... .
Nancy......................
Justitia.....................

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

11,198.54
11,192.24

cr 3
s
• o’
91.91
360.10
225—
338.20
146.70
158.32
71.61
69.43
252.41
87.83
188.17
53.28
193.31
274.60
51.83
343.53
236.47
5.79
85.45
49.47
193.27
234.72
371.44
217.27
235.17
91.67
44.92
371.81
341.42
66.20
92.62
42.61
283.50
98.68
103.75
120.81
97.41
678.51
157.12
179.45

Commercial Statistics.

310

S H IP -B U IL D IN G A T T H E P O R T O F N E W Y O R K IN 1847.
W e are indebted to the “ Shipping and Commercial List ” for the subjoined statement
o f the shipping built at the port o f N ew York during the year 1847.
W e believe that, since the organization o f our Government, no one year produced so
great a number o f vessels as the year just passed. Am ong them were many elegant and
substantial steamers, o f great strength and immense capacity, varying in size from 1,000
to 3,000 tons.
T he number o f tons launched since January last reaches 39 ,718; and if we add the
29,870 tons now on the stocks, in course o f completion, the whole will amount to 69,588.
The annexed table exhibits the number o f men employed by each builder, with the
number o f tons launched and on the stocks, in the various yards about the c ity :—
SIIIP-BUILDING IN NEW YORK IN

W . H. W ebb...............................
Perrine, Patterson, and Stack....
Westervelt and Mackay..............
W . H . Brown................................
Brown and Bell............................
Bishop and Simonson..................
Smith and Dimon........................
Barclay and Townsend..............
Lawrence and Sncden...............
Jabez Williams and Son............
W . Collyer....................................
J. Collyer.....................................

*

1847.

Tons launched. Tons on stocks.
8 ,6 1 0
4,950
5 ,190
2,500
4 ,8 5 0
5 ,900
5,900
3 ,6 8 2
300
4 ,146
3,600
1,940
1,080
3,700
1,240
768
1,500
3,300
1,950
250
1,632
586
400
1,500

B u il d e r s .

_

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

300
250
270
250
200
250
150
150
150
150
10 0
10 0
2,320

2 9 ,8 7 0

39,718

Men.

The number o f men enumerated in this list does not include painters, blacksmiths, spar
and blockmakers, riggers, caulkers, ropemakers, nor the timber hewers— all o f whom have
more or less to do with the construction o f a ship; and, if added, would swell the number
to at least 3,500. W e may safely say that at least 20,000 persons in this city obtain sub­
sistence from this one branch o f mechanism.
The impetus which recent circumstances have given to steam navigation, has increased
the value o f labor some 20 per cent within the last year, and the amount now employed
in the construction o f steam-engines for ships is-fully doubled. T o give an idea o f the
extent o f this business, which is now, in fact, synonymous with ship-building, it will be
only necessary to state, that one establishment, Messrs. Stillman, Allen and Co.’s Novelty
W orks, employ one thousand men, wholly upon marine engines; Messrs. Secor and Co.
have some eight hundred; Allaire’s W orks, eight hundred; Pease, Murphy and Co., the
same number; and a host o f other foundries, employing more or less— all o f whom are
maintained and supported solely by the merchant marine.
In these remarks we do not include those employed on the Dry Dock, and in repairing.
The number in this particular branch is about five hundred.

LO N D O N PR ICE S OF V IR G IN IA A N D K E N T U C K Y TO B A CC O .
A COMPARATIVE STATEMENT OF THE EXTREME QUOTATION OF PRICES OF VIRGINIA AND KEN­
TUCKY STEMMED AND LEAF, IN THE PORT OF LONDON FOR TIIE LAST NINE YEARS, ENDING
31ST DECEMBER ; DERIVED FROM GRANT AND HODGSON’ S CIRCULAR, DATED JANUARY I , 1 8 4 8 .

Years.

Virginia Leaf.
d.

1839.............
1840..............
1 8 4 1 ....,......
1842.............
1843.............
1844..............
1845.............
1816.............
1847..............




d.

a

3} “
3 “
2J “

74
t'4
6

2*

“

C i

2
2

“
“

n

“

54
5J
54
54

14 “

Virginia Stemmed.
d.

9
5
4
4
5
3

d.

to 144
u
9
ft
8
(i
74
if
74
ft
64
2 J ft
64
24 (f 6
6
3 if

Kentucky Leaf.
d.

d.

44 to 94
44 “ 74
4
24
2
2
2
14

2

“ 6
“ 5
" 4
“ 4
“ 34
“ 34
“ 44

Kentucky Stemmed.
d.

11
74
6
4
4
34
3|
34
4

d.

to 14
“
94
“
84
“
6
“
6
“
54
“
54
“
4|
“

Commercial Statistics.

311

IM P O R T OF C O T T O N IN T O G R E A T B R IT A IN .
IMPORT OF COTTON INTO GREAT BRITAIN IN

1847, 1846,

AND

1845,

W ITH THE STOCK IN THE

FORTS AT THE CLOSE OF EACH TEAR.
IMPORT.

United States.

Brazil, &c.

Egyptian.

East India.

Total.

Liverpool.............
London.................
Glasgow, & c ......

833,364
2,681
37,701

112,137
977
640

20,667

122,048
77,426
22,118

1,088,216
81,084
60,459

Total 1847......
“
1846......
“ 1845......

873,746
991,110
1,500,369

113,754
97,220
120,023

20,667
60,520
81,423

221,592
94,670
155,045

1,229,759
1,243,520
1,856,860

Liverpool..............
Loudon.................
Glasgow, & c.......

214,800
620
22,435

60,110
640
679

22,660
3,491

65,960
47,740
11,974

363,530
49,000
38,579

Total 1847......
“ 1846......
“ 1845......

237,855
302.900
690,450

61,429
28,130
58,700

26,151
57,290
67,740

125,674
157,470
238,380

451,109
545,790
1,055,270

Ports.

STOCK.

IR O N T R A D E OF P H IL A D E L P H IA W IT H T H E IN T E R IO R .
>■

Below will be found the annual statement o f the Iron Trade o f Philadelphia with the
interior during the last two years, as prepared by Colonel Childs for the “ Commercial
List.” This statement embraces the supplies o f the various kinds o f iron, nails, &c.,
brought down the Lehigh and Delaware Canals, Schuylkill Canal, Chesapeake and Dela­
ware Canal, and the Columbia, Reading, and Norristown Railroads:—
B Y C H ESAPEAKE A N D D E L A W A R E C A N A L .
1817.

1846.

79,593,539
18,058,491
10,172,757

5 7,405.226
18,669,843
5,918,167

107,824,787

81,9 93 ,9 3 6

48,136

36,604

Pig iron.........lbs.
Wrought.............
Castings & nails

Equal to, in tons

B Y S C H U Y L K IL L C A N A L .

Pig iron....... lbs.
Bar and sheet__
Blooms and cast.
Nails and spikes

15,963,480
8,442,560
3 ,339,840
1,966,720
29,712,600

Equal to, in tons

13,265

42,7 64 ,4 9 3
106.389
428 ,58 8

T ota l..............

47,347,873

4 3,299,470

Equal to, in tons

21,1 38

R E A D IN G

R A IL R O A D ----- B R O U G H T

19,330
DOWN

AND

22,343,270
4|tf72,910
21459,060
7,251,670
4 1 ,4 26 ,9 1 0
18,940

B Y N O R R IS T O W N R A I L R O A D .

2 ,115,500
1,116,300
9,008,100
434,100
21,500

T ota l.............

39,190,000

12,695,500

Equal to, in tons

17,410




1846.

4 6,558,206
327,852
461,815

C A R R IE D U P .
8 ,413,440
2 ,408,000 Pig & . castes, lbs. 14,778,510
806,400 Bar and sheet.... 20,725,040
1,612,800 Blooms................
1,537,330
Nails and spikes.
8 ,743,480
14,240,640
4 5,784,360
5,911
Equal to, in tons
20,439

5,935.500
1,323,300
2 1,506,500
3,2 1 1,00 0
7,213,700

Nails and spikes.

1S47.

Pig iron.........lbs.
Bar and sheet....
Castings..............

BY

B Y C O L U M B IA R A IL R O A D .

Pig iron.........lbs.
Blooms................
Bar and sheet....

B Y D E L A W A R E C A N A L — A R R IV E D A T B R IS T O L .

Pig iron.........lbs.
Castings..............
Rod and bar......

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

5,672 Equal to, in tons

7,902,720
2,172,800
2,895,360
288,960
89,600

10,288,789
1,741,792

13,349,440

12,030,581

6,406

5,370

Commercial Statistics.

312

RECAPITULATION1847*

1846.

1847.

PIG IRON AND CASTINGS.

By Chesapeake and Del. Canal... ..lbs.
Delaware Canal......................
Schuylkill Canal.....................
Reading Railroad...................
Columbia Railroad.................
Norristown Railroad...............

1 8 4 6 '.

WROUGHT IRON.

63,324,093 18,058,491 18,669,843!
43,193,081
327,852
106,389
9,219,840 8,442,560 2,408,000
22,343,230 20,725,040 9,372,910
2,549,600 21,506,500 9,008,100
10,288,789 3,184,320

88,131,239
47,020,021
15,963,480
14,778,510
9,146,500
10,075,520

185,115,270 150,918,633 72,244,763 39,565,242

Total...........................................
Equal to, in tons............................

67,392

82,640

17,681

32,252
BLOOMS.

NAILS AND SPIKES.

7,251,670
21,500
1,741,792

1,537,330
1,323,300
89,600

1,634,877
1,966,720

1,612,800

3,339,840

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

19,558,777

10,627,736

6,290,070

9,710,730

Equal to, in tons............................
“
kegs..........................

8,731
195,587

6,278
101,217

2,808

4,335

*8,743,480
7,213,700

By Reading Railroad...................
Columbia
“
Chesapeake and Delaware Canal.
Schuylkill Canal.....................

2,459,060
7,251,670

....... .

C A S H P R IC E OF P IG IR O N A T G L A S G O W .
THE NETT CASH PRICE OF PIG IRON FOR MIXED NUMBERS, PER TON, DELIVERED FREE ON BOARD
AT GLASGOW.
M

o n t h s

.

1845.

1848.

1847.

£

8.

d.

£

S.

d.

£

8\

d.

J a n u a r y .......................................... ......................

3

5

0

4

0

6

3

14

0

F e b r u a r y ....................................... ......................

3

14

0

3

17

6

3

13

6

5

0

3

11

0

3

12

0

7

6

3

5

0

3

11

0

8

0

3

9

6

3

6

0
0

M a r c h ............................................ .
A p r i l .............................................. .......................

6

M a y .................................................
J u n e ................................................

3

5

0

3

8

0

3

5

J u l y ................................................. ......................

3

5

0

3

11

0

3

9

0

A u g u s t .......................................... .......................

3

7

6

3

14

0

3

8

O

2

0

3

14

0

3

7

0

10

0

3

10

6

3

0

0

S e p t e m b e r .....................................
O c t o b e r ...........................................
N o v e m b e r ..................................... ......................

17

6

3

9

6

2

11

6

D e c e m b e r ......................................

16

0

3 12

6

2

7

0

A v e r a g e ....................................

0

3

3

3

3

5

4

3

7

H A M B U R G H IM P O R T S A N D S T O C K S O F S U G A R .
Letters from Hamburgh contain the following statistical statement o f the quantity o f
all kinds o f sugar imported into that port during the last ten years, as also the quantity
held as stock at the close o f each, which may be thus briefly given:—
Years.

1838...... ......lbs.
1839..... ...........
1840.... ..........
1841...... ...........
1842...... ..........

Importations.

Stocks.

101,000,000
85,000,000
100,000,000
78,000,000
94,500,000

13,500,000
11,000,000
15,500,000
18,000,000
13,000,000

Years.

1843......
1844.......
1845......
1846.......
1847.......

.....lbs.
............
............
............
............

Importations.

Stocks.

98,500,000
68,500,000
88,500,000
73,000,000
77,000,000

21,500,000
9,500,000
17,000,000
10,000,000
14,500,000

* O f this quantity, 56,866 kegs were cleared from Phcenixville.




313

Commercial Statistics,
E X P O R T S A N D T O N N A G E O F M A T A N Z A S F O R 1847.

From a statement published in the Aurora de Matanzas, our able correspondent, “ U n
C u b a n o ,” has furnished us with the following interesting statistics o f the trade o f Matan­
zas. It will not only be o f interest to our mercantile friends, but also to the general read­
er, by showing the comparative number o f vessels, and amount o f tonnage o f the different
nations engaged in the trade:—

45,904
32,060i
7,550
28.405J
3,0734
1,1084
68,0854
50,009
1,697
5,0094
24,583
16,322
7,403
14,285
8,865
18,459
2,657
27,390
761
23,546

N ew Y ork............................................
Boston...................................................
Charleston, and other southern ports.
Philadelphia.........................................
Rhode Island........................................
Portland, and other northern ports...
England................................................
Cowes, Isle o f W ight........................
Gibraltar-..............................................
English provinces.................................
Hamburgh and Bremen.....................
T he Baltic.........................................
Holland.................... ..........................
Belgium.................................................
France..................................................
Spain.....................................................
Italy.......................................................
T he Adriatic........................................
Various ports........................................
Havana..................................................
Total.................................................

Molasses.
H hds.

Coffee.
Pounds.

Sugar.
Boxes.

Places.

185,2274
82,450
117,475
3,4774
17,850
32,650
5,050
83,400
125,175
3,009,425
350
150
201,250
176,9524
168,745
150
32,800
749,260

387,183

3,405,7774

4,934
8,375
5,648
4,826
5,114
10,501
5,972
031
5,998

2,500
1,026
964

54,8414

The following will show the number o f vessels, the amount o f tonnage, and the nation
to which belonging, employed in exporting the above:—
Ships & Barks. Brigs.

American.............
English.................
Spanish................
French.................
German................
Russian.................
Prussian.......... .
Swedish...............
Norwegian...........
Brazilian..............
Total................

79
46
4
19

Schooners. Polacres.

165

71

62
42

10

1

Luggers.

i
i

123,9394

17

i*5
2

2

1

1

3
2
2
294

82

17

Tons.

59,0574
30,6974
15,0484
1,287
11,530
1,210
1,092
2,410
756
8504

C O M M E R C E OF T H E P O R T OF N E W O R L E A N S .
T he Deputy Collector o f the Custom-house at N ew Orleans furnishes the following
comparative statement o f the exports o f domestic products, and the imports o f bullion and
coin, during the years ending December 1, 1846, and December 1, 1847:—
T he exports o f domestic products, exclusive o f coin and bullion, for
the twelve months commencing December 1,1845, and ending De­
cember 1, 1846...........................................................................................
The exports o f domestic products, exclusive o f coin and bullion, for
the twelve months commencing December 1,1846, and ending D e­
cember 1, 1847...........................................................................................
Imports o f bullion and coin for the twelve months commencing De­
cember 1, 1845, and ending December 1, 1846...................................
Imports o f bullion and coin for the twelve months commencing De­
cember 1, 1846, and ending December 1, 1847...................................




$55,133,354 83

68,192,479 12
767,333 60
1,523,720 00

314

Commercial Statistics.
L IV E R P O O L IM P O R T S O F A M E R IC A N P R O D U C E .

T h e follow in g tabular statement o f the imports o f produce into L iverpool, (E ngland,)
from N orth A m erica, from January 1st to Decem ber 31st in each o f the years nam ed, as
also the prices on the 1st o f January, is derived from Stitt, D ay & C o.’ s C ircu la r:—
LIVERPOOL IMPORTS OF NORTH AMERICAN PRODUCE, FROM 1 S T JANUARY TO 3 1 s T DECEMBER, IN
EACH YEAR.

B e e f...........................
*<
P ork ..........................
C heese......................
M

it

Butter.........................
T o b a c c o ...................
W o o l ..........................
H ides..........................
A sh es, P o t ...............
“
Pearl.............
Indian co r n ............
W h ea t........................
F lour.........................

1S45.

1846.

1847.

0 ,9 1 3

1 5 ,1 7 1

2 6 ,2 5 1

1 5 ,4 0 2

9 ,1 6 6

3 ,4 8 7

9 ,3 0 5

3 ,1 7 2

7 ,6 8 9

7 ,9 1 3

1 5 ,1 5 4

2 7 ,3 6 6

5 .2 8 7

5 ,3 2 2

4 ,2 8 9

6 ,7 1 6

1 8 ,2 4 5

4 3 ,9 8 4

6 3 ,1 1 3

5 2 ,8 2 2

3 ,4 7 1

3 ,5 2 0

3 ,5 3 7

2 ,1 1 8

2 ,6 0 5

3 ,6 1 9

5 ,0 3 0

3 ,9 1 4

1 9 ,3 9 3

1 0 ,4 7 1

20 ,8 7 9

3 3 ,7 2 5

2 9 ,7 9 5

5 4 .2 9 2

6 5 ,4 5 1

5 2 ,1 6 6

3 ,7 8 9

9 ,7 9 1

9 ,2 0 0

7 ,2 1 7

1 2 ,4 4 1

1 3 ,3 7 0

1 5 ,0 2 0

10 ,3 6 6

T a llo w ......................
«
Lard...........................

1844.

246

3 ,9 7 6

1 ,9 8 2

1 ,5 6 2

3 5 ,1 6 0

5 4 ,6 8 1

5 0 ,7 5 0

1 5 ,5 0 8

1 1 ,8 0 6

1 4 ,2 3 9

8 ,2 4 3

5 ,6 3 2

5 ,7 2 4

6 ,5 1 6

3 ,4 4 0

1 ,4 3 7

2 0 0 ,0 0 0

1 ,0 6 0 ,8 4 3

2 3 ,0 7 3

41 ,8 9 5

1 9 4 ,6 0 3

2 9 1 ,6 7 5

3 4 6 ,5 6 8

3 6 3 ,4 0 2

1 ,1 8 4 ,0 1 2

2 ,1 8 4 ,9 2 2

PRICES 1 S T JANUARY.
Years.

Beef.
s.

1843

Pork.
s.

s.

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

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

70

a

76

1 8 4 5 ...........................
1 8 4 6 ...........................
1 8 4 7 ...........................

80

a

85

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

s.

Cheese.
s.

Bacon.
8.
8.

Lard.
S•
8.

58

a

62

... a ...
.. a ..
.. a ..
.. a ..

52

a

55

45

a

47

62

a

68

44

a

56

50

a

53

45

a

46

42

a

60

43

a

52

46

a

49

55

a

58

28

a

36

36

a

42

60

a

61

48

a

51

41

a

45

a

48

33

a

52
34

50

a

54

42

a

46

F O R E I G N C O M M E R C E O F B A L T I M O R E I N 1847.
T h e M ayor o f Baltimore gives, in his A nnual R eport, the follow ing statement o f the
foreign com m erce o f that city in 1 8 4 7 :—
Imports in A m erican
“
foreign

vessels.......................................................................................
“
................................................................................

$ 3 ;7 5 7 ,6 8 0
658,189

T otal imports for the year........................................................................................

$ 4 ,4 1 5 ,8 6 9

E xports in A m erican vessels......................................................................................
“
foreign
“

$ 6 ,6 6 8 ,4 9 9
3 ,143,544

T ota l exports for the year.

$ 9 ,8 1 2 ,0 4 3

A m erican vessels entered from foreign ports.
Foreign
“
w
“
T otal vessels

entered during

the

y e a r............

Vessels.
355
142

Tons.
77,093
39,1 60

Men.
3 ,3 1 6
1,595

497

116,253

4,911

A m erican vessels cleared to foreign ports___
F oreign
“
“
“
.. ..

456

210

107,054
59,7 64

4 ,3 5 9
2 ,569

T ota l vessels cleared during the yea r..........

666

166,809

6,928

T h e follow in g is a statement o f the assessed value o f the real and personal estate for
the last three y ea rs:—




315

Commercial Statistics.

1816.

1817.

1818.

$ 6 3 ,1 4 1 ,1 4 0

$ 74,9 21 ,1 4 5

$ 7 7 ,6 1 2 ,4 8 0

T h e M a yor also states that 2 ,0 0 6 new houses were erected during the past year.

P H IL A D E L P H IA E X P O R T S A N D IM P O R T S .
COMPARATIVE STATEMENT OF THE QUANTITY OF FOREIGN SUGAR IMPORTED INTO THE PORT OF
PHILADELPHIA DURING THE YEARS 1846 AND 1847, WITH THE QUANTITY EXPORTED FOR THE
BENEFIT OF DRAWBACK.
1 S I6

r

1»47

M o n th s.
J a n u a r y .....................

B oxe s.

451

2 ,4 0 0

3 .5 4 9

105

78

55

F e b r u a r y ...................

212

i

551

2 ,2 5 2

3 ,8 2 3

708

1 ,1 8 4

9 ,1 1 8

M a r c h ........................

884

541

722

2 ,5 5 0

5 ,4 7 1

1 ,8 1 0

665

4 ,9 2 0
3 ,0 0 5

li d s . T c s , . B a r r e ls .

557

B ags.

B o x e s.

H o g s h e a d s . B a r r e ls .

B ags.

A p r i l ..........................

3 ,9 5 4

1 ,2 6 1

1 .1 7 6

5 ,9 5 0

8 ,2 8 1

1 ,7 9 0

679

M a y ............................

4 ,1 2 3

1 ,1 3 5

317

1 ,0 5 2

1 4 ,5 2 5

2 ,1 8 8

1 ,3 6 5

9 ,0 1 6

J u n e ...........................

4 ,3 8 8

76

261

470

2 ,8 7 3

2 ,5 1 1

907

2 ,1 1 1

J u l y ............................

3 ,4 2 4

100

1 ,5 1 4

540

2 ,6 2 8

2 ,3 2 5

421

162

A u g U 3 t ......................

4 ,6 2 2

151

363

9

2 ,6 4 0

1 ,1 2 2

510

1 ,9 0 0

1

........

4 ,8 0 6

1 ,4 0 1

1 ,2 9 7

200

48

1

........

734

725

276

2 ,0 8 5

.........

4 ,2 9 2

547

332

.........

........

645

666

252

........

1 5 ,2 2 3

5 4 ,2 6 7

1 5 ,8 9 8

7 ,9 6 6

3 2 ,5 7 2

S e p t e m b e r .................

695

O c t o b e r .......................

1 ,5 8 6

N o v e m b e r .................

313

D e c e m b e r ..................

2 ,6 4 1

208

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

2 7 ,3 9 9

3 ,5 2 1

E x p . d u rin g the y e a r

109

C O M P A R A T IV E S T A T E M E N T O F T H E

5 ,3 5 7

42
Q U A N T I T Y O F F O R E IG N

W IN E S , S P IR IT S , M O L A S S E S , E T C ., I M -

P O R T E D I N T O P H I L A D E L P H I A F R O iM 1 8 4 4 T O 1 8 4 7 , I N C L U S I V E .

A

r t ic l e s

.

1844.
G a llo n s .

M o l a s s e s ......................
H o n e y ...........................
B r a n d y ........................ .
H o lla n d

g i n ................

1843.
G a l lo n s .

1846.
G a l lo n s .

1847.
G a l lo n s .

D u t,
p . ct.

1 ,6 2 4 ,9 4 1

2 ,2 9 0 ,5 8 5

2 ,4 8 5 ,7 3 8

2 2 ,8 1 5

1 5 ,5 2 7

4 4 ,2 3 9

6 5 ,6 9 8

30
30

1 0 9 ,3 5 1

1 4 2 ,9 3 1

1 7 0 ,2 7 2

2 1 2 ,6 6 6

100

2 1 ,2 2 4

2 9 ,5 9 9

4 9 ,8 7 0

3 6 ,5 8 9

100

R u m .............................

7 ,1 1 1

7 ,4 6 4

8 ,6 4 5

1 ,1 5 4

100

W h i s k e y ......................

5 ,7 0 6

3 ,6 7 7

4 ,6 1 4

.........

100

C o r d i a l s ........................

173

10

143

42

100

1 ,0 5 4

903

216

12

30

V i n e g a r ..................... .

107

571

534

624

30

O ils , O liv e , i n c a s k s .

2 ,3 4 9

1 ,8 6 1

366

30

P o r t e r , a le , a n d b r o w n s t o u t .

L i n s e e d ...............

603

20

........

20

1 ,3 3 3

........

20

C a s t o r ..................
F i s h ......................
W i n e , M a d e i r a ..........

2 ,1 1 5

312

1 6 ,0 5 4

57

40

P o r t ......................

1 2 ,8 0 9

1 9 ,0 7 9

1 5 ,6 8 2

4 4 ,4 2 1

40

S h e r r y .................
T e n e r i f l e ............
San

141

L u c a r .........

M a l a g a ...............

34 ,3 0 8

1 1 ,9 3 9

881

232

40

9 ,9 7 4

3 1 ,1 6 1

40

12

........

40

30 ,9 2 0

1 3 ,8 1 1

4 0

2 9 ,6 7 6

40

L i s b o n .................
S i c i l y ................. .

904

C h a m p a g n e ......

72

R h e n i s h .............

2 ,7 7 3

C l a r e t ..................
W h it e

F re n c h ..

2 .8 1 3

6 ,9 0 0

40

27

182

11

40

1 ,1 7 1

40

243

466

621

6 ,6 3 7

40

2 0 ,8 5 2

3 8 ,4 0 8

5 1 ,8 6 9

2 6 ,1 7 6

40

M a l m s e y ............

340

40

C a n a r y ................

........

40

........

40

P i c o .....................

M uscat a n d Frontignac.
R e d .....................
M oselle...............




46
2 2 ,8 1 8

15

50

9,876
35

200

4

40

19 ,2 5 6

1 9 ,2 4 9

40

117

.......

40

316

Commercial Regulations.

COMMERCIAL

REGULATIONS/

C O M M E R C IA L R E G U L A T IO N S O F T H E H A W A I I A N

PORTS.

CONDENSED ABSTRACT OF LAWS RESPECTING COMMERCE, PUBLISHED FOR THE INFORMATION OF
SHIPMASTERS AND OTHERS FREQUENTING THE PORTS OF THE HAWAIIAN ISLANDS.
V

a

e ss e l s

a r r i v i n g o f f th e p o r t s o f e n t r y to m a k e

th e u s u a l

m a rin e

s ig n a l

if the y w a n t

p ilo t .

T h e pilot will approach vessels to the w indw ard, and present the health certificate to
be signed by the captain. I f the vessel is free from any contagion, the captain will hoist
the white flag, otherwise he will hoist the yellow flag, and obey the direction o f the pilot
and health officer.
Passports must be exhibited to the governor or collector b y passengers before landing.
Masters o f vessels allow ing baggage to be landed, before com pliance with the laws, are
subject to a fine o f $ 5 0 0 .
M asters o f vessels on arriving at any o f the ports o f entry are required to deliver all
letters to the collector o f customs. T h e law regarding the delivery o f letters by ship­
masters to the collector, w ill only take effect on promulgation by H is H aw aiian Majesty
in privy council.
T h e com m anding officer o f any m erchant vessel, im m ediately after com ing to anchor at
either o f the legalized ports o f entry, shall m ake know n to the collector o f customs the
business upon which said vessel has com e to his port— furnish him with a list o f passengers,
and deliver him a manifest o f the ca rgo with which she is laden, containing m arks and
numbers, and the nam es o f those to w hom consigned.
T h e collector, at his discretion, and at the expense o f any vessel, m ay provide an officer
to be present on board such vessel during her discharge, to superintend the disembarkation,
and see that no other or greater amount o f m erchandise be landed than is set forth in the
permit.
A ll goods landed at any o f the ports o f these islands, are subject to a duty o f 5 per cent

ad valorem.
T h e follow ing are the only port3 o f entry at these islands, v iz : for m erchantm en, H on­
olulu, Oahu, and Lahaina, M a u i; and for whalers, in addition thereto, H ilo, H aw aii,
Hanalei, Kauai and K ealakeakua, H aw aii. T h e port charges on merchant vessels are as
fo llo w s :— A t Honolulu, 2 0 cents per ton ; buoys, $ 2 ; clearance, $ 1 ; pilotage in and out,
$ 1 per foot, each w ay. A t Lahaina, anchorage dues, $ 1 0 ; pilotage, $ 1 ; health certifi­
cate, $ 1 ; lights, $ 1 ; canal, ( i f used.) $ 2 ; and clearance, $ 1 .
B y a law promulgated in the Polynesian newspaper o f June 19th, 1847, whale-ships
are, from and after that date, exem pted from all charges for pilotage, tonnage dues, or
anchorage fees, at all the various ports o f entry for whalers o f this group.
Hereafter, the charges on whalers will be— Clearance, $ l ; pennits, (w hen required,)
$ l e a c h ; and in addition thereto, at H onolulu— buoys, $ 2 . A t Lahaina— health c e r ­
tificate, $ 1 ; lights, $ 1 ; canal, (w h en used,) $ 2 ; and at Kealakeakua— health
certificate, $ 1.
W hale-ships are allow ed to land goods to the value o f $ 2 0 0 , free o f duty, but i f they
exceed that am ount, they are then liable to pay 5 per cent on the whole amount landed,
as well as the charges for pilotage and tonnage dues, or anchorage fees, required o f whalers
by law previous to June 19th, 1847 ; and i f the goods landed shall exceed $ 1 ,2 0 0 , (w hich
is only permitted by law at Honolulu and Lahaina,) they will then be considered as
m erchantm en, and subject to the like charges and legal liabilities.
T h e permits granted to whalers, do n ot include the trade, sale, o r landing o f spirituous
liquors. A n y such traffic by them, (w hich is prohibited except at Lahaina and Honolulu,)
w ill subject them to the charges upon m erchantm en, including the payment o f twenty
cents per ton, as well at the anchorage o f Lahaina and at the roadstead o f H onolulu, as
within the port o f Honolulu.
Before obtaining a clearance, each shipmaster is required to produce to the collector o f
custom s a certificate, under the seal o f his consul, that all legal charges or demands, in his
office, against said vessel, have been paid.
Spirituous or ferm ented liquors landed at any o f the ports o f these islands, are subject
to the follow ing duties, v iz : rum, gin , brandy, whiskey, etc., $ 5 per gallon ; w ines, (e x ­
cept claret,) liqueurs, cordials, etc., $ 1 per g a llo n ; claret w ine, 50 cents per g a llo n ; malt
Uquors and cider, 5 per cent ad valorem.




Commercial Regulations.

317

Products o f the whale fishery m ay b e transhipped free from any charge o f transit duty.
Vessels lauding goods upon which the duties have not been paid, are liable to seizure
and confiscation.
I f any person com m it an offence on shore, and the offender escape on board o f any
vessel, it shall be the duty o f the com m an din g officer o f said vessel to surrender the sus­
pected or culprit person to any officer o f the police w h o dem ands his surrender, on pro­
duction o f a legal warrant.
It shall not be lawful for any person on board o f a vessel at anchor in the harbor o f
H onolulu, to throw stones and other rubbish overboard, under a penalty o f $ 1 0 0 .
A ll sailors found ashore at L ahaina, after the beating o f the drum, or at H onolulu, after
the ringing o f the bell, are subject to apprehension and a fine of $ 2 .
Shipmasters must give notice to the harbor-master o f the desertion o f any o f their sail­
ors within forty-eight hours, under a penalty o f $ 1 0 0 .
Seam en are not allowed to be discharged at any o f the ports o f these islands, excepting
those o f Lahaina and Honolulu.
It shall not be lawful to discharge seam en at any o f the ports of these islands without
the written consent o f the governor.
H onolulu and Lahaina are the only ports at which native seam en are allow ed to be
shipped ; and at those places with the governor’s consent only.
A n y vessel taking aw ay a prisoner from these islands shall be subject to a fine o f $ 5 0 0 .
T o entitle any vessel to a clearance, it shall be incumbent o n her com m anding officer
first to furnish the collector o f customs with a manifest o f cargo intended to be exported in
such vessel.
It shall not be lawful for the com m anding officer o f any H awaiian or foreign vessel, to
carry out o f this kingdom as a passenger, any dom iciled alien, naturalized foreigner or
native, without previous exhibition to him o f a passport from H is M ajesty’ s M inister o f
Foreign Relations.
Retailers o f spirituous liquors are not allow ed to keep their houses open later than 9
o’clock in the evening, and they are to be closed from Saturday evening until M on da y
m orning.
R apid riding in the streets is prohibited under a penalty o f $ 5 .
Office hours at the custom -house, and other public offices, every day (excep t Sundays)
from 9 o’clock A . M ., till 4 o ’clock P . M .

R E G U L A T I O N S F O R S H IP S B O U N D T O S W E D E N :
FROM PORTS ON THIS SIDE OF CAPE FINISTERRE.

T h e R oyal Board o f T ra d e at Stockholm has ordered that all vessels departing from
any foreign port on this side o f Cape Finisterre, and destined to S w ed en, must be provi­
ded with a Bill o f Health signed by the Sw edish and N orw egian consul at the place, or,
in the absence o f such functionary, by the constituted authorities; in which must be stated
whether the cholera has been, or is prevalent at the said port or in its neighborhood, and
as to the state o f health o f the crew and passengers on board.
Should the vessel touch at any intermediate port on the voyage, it is the duty o f the
com m ander to provide him self with a similar docum ent from thence.

P H IL A D E L P H IA B O A R D O F T R A D E .
T h e follow ing gentlem en w ere elected officers o f this A ssociation at the A nnual M eet­
in g which took place on the 20th o f January, 1 8 4 8 :—

President, T h o m as P. C ope . V ice-Presidents , R o b e r t T o l a n d , T hom as P . H oopes .
Treasurer , T h o m as C . R o c k h ill . Secretary , R ich ar d D. W ood. Directorsf T h om as
R id g w a y, Sam uel C. M orton, N . B. T h om p son , David S. B row n, A . J. L ew is, T h om as
L . L ea , S. M orris W a in , W ashington Butcher, Daniel L . M iller, ju n ., Isaac R . Smith,
Daniel H addock, ju n ., Sam uel J. R eeves, J. L . Erringer, James C. H and, W illiam C. Pat­
terson, Jacob P. Jones, Jam es Barratt, H ugh Cam pbell, M orris Patterson, H ugh E lliott,
W illia m Musgrave.
T H E N E W C U S T O M S ’ U N IO N IN I T A L Y .
T h e F ren ch journals publish a custom s’ league betw een Sardinia, T uscany, and the
Papal States, and agree in regarding it as the foundation o f a political union. E ven in a
com m ercial sense the treaty is o f im portance, as it w ill, i f fully carried out, establish a
uniform system o f trade, and rem ove m any o f the existing annoyances to m erchant* and




319

Nautical Intelligence.

travellers. T h e treaty states that the K in g o f N aples and the D u ke o f M odena have been
requested to jo in the league, but there is no m ention o f the Duchess o f Parma. W ith out
the co-operation o f M odena and Parm a, there can be no com m unication betw een Pied­
m ont and the Papal Slates and T u sca n y .

NAUTI CAL I NTELLI GENCE.
L I G H T -H O U S E S A T F A R O N A N D Y S T A D .
T he R oyal N a vy Board at S tockholm publishes, for the inform ation o f M ariners, the

follow ing notice regarding the Light-houses at Faron and Y stad, v iz:—
1st. T h e Light-house on the N orth-east point, or the H olm point, on F aron, referred to
in the Ordinance o f the 16th April last, has been built during the sum m er, and will be
lighted about the latter part o f the month o f October, 1847. A s a difference betw een the
Light-house on the Island o f O stergam , East o f Gottland, this n ew one will be revolving,
and will g iv e four equally strong lustres, o f about thirty seconds each, during a period o f
eight minutes, with a minute and a lia lfs darkness betw een each lustre. T h e light will
be visible in every direction from N orth to East and to South-w est, and can be seen from
a ship’s d eck, in clear weather, at a distance o f three and a half geographical miles.
2d. In place o f the Lanterns at Y stad, hitherto only lighted on certain occasions, there
have been built tw o Light-houses, provided with Sideral Lamps. T h e larger one, or the
one furthest in the harbor, will have a com m on white lustre fifty-tw o feet above ihe level
o f the sea, a-nd will be visible from W . N . W . to S. to E. N . E ., and can be seen at a dis­
tance o f from tw o to three miles during clear weather. T h e lesser, and outer Light-house,
is erected on the farthest end o f the W est P ier o f the harbor, is twenty feet above the
level o f the s e a ; and to distinguish it from the greater Light-house, as well as from the
lights o f the houses in the tow n, has a red lustre visible all round the horizon, at a dis­
tance o f about one to one and a half geographical miles. T h is Light-house, on entering
the harbor, must be taken close on the larboard tack. T h e bearings o f these Light-houses
from each other is N . E . by N . and S. W . by S., and the distance between them is 1,451
feet. T h e Light-house on the W e s t pier is painted white, and the larger one is painted
tw o-thirds from the bottom red, and the remainder white. T h ese tw o will be lighted first
towards the end o f the m onth o f O ctober, and will, as well as the Light-house on the
Island o f Faron, be lighted during the hours appointed by Governm ent in the rules and
regulations regarding Pilotage and Beacons.

L IG H T S F O R S T E A M E R S .
T h e follow ing is an extract from a letter just issued by the A d m ira lty:—
T h e attention o f the Board o f Adm iralty having been repeatedly called to the necessity
o f establishing a uniform system o f lights for steam ers, directions were given (afier a long
and careful series o f trials o f various lights) to fit the several m ail-steam ers on the west
coast o f E ngland, nam ely, those o f Liverpool, H olyhead, and Pem broke, with lights as
fo llo w s :—
WHEN UNDER WEIGH.

A bright white light on the foremast head.
A green light on the starboard bow.
A red light on the port bow , to be fitted with inboard screens.
WHEN AT ANCHOR.

A com m on bright light.
O n the above plan being notified, it w as adopted by several steam boat proprietors, and
the vessels o f the steam com panies nam ed below are fitting, or are already fitted, with
these lights.
1. T h e British and N orth A m erican R oyal M ail Com pany.
2. T h e British General Steam -packet Com pany.

C A U T I O N T O S H IP P I N G P A S S I N G S O U T H F O R E L A N D A N D S A N D G A T E .
T h e foreign mail service betw een D over, Calais, and B oulogne, bein g performed dur­
in g night tim e by extraordinary fast steam ers, it is advisable for all ships, vessels, and
boats, to keep a g o o d look-out in that quarter.




4

•

N a u tica l In tellig en ce.

319

L IG H T S O N TREVO SF, H E A D .
THE FIRST EXHIBITION OF THE LIGHTS ON TREVOSE HEAD, NORTH-WEST COAST OF CORNWALL-

N otice is h e re b y given, that tw o fixed bright Lights will be exhibited at different eleva­
tions from the T o w e r at Trevose H ead, on the. evening o f the 1st D ecem ber, and thence­
forth continued every night from sunset to sunrise.
T h e higher o f these Lights w ill burn at an elevation o f 2 0 4 feet above the level o f high
w ater, and will illuminate 2 7 4 ° o f the com pass, or from E . \ S. round seaward to South,.
T h e low er Light, w hich is placed about 50 feet in advance, or to seaward o f the higher
L igh t, will bum at an elevation o f 129 feet above the level o f high water, and w ill illu­
minate 1 7 6 ° o f the com pass, or from N . E . \ E . round seaward to S. W . £ W .

W R E C K IN T O R B A Y .
N otice is hereby given, that a Green B u oy,m a rk ed with the word “ W r e c k ,” has been
placed about 15 fathoms E. by S. £ S. from a vessel sunk in the direct track o f shipping
seekin g shelter in T orbay.
T h is B uoy lies in 7£ fathoms at lo w water spring tides, with the follow ing Com pass
Bearings, v i z :—
T h e Southern extrem ity o f Berry H ea d ..................................................................... S. by E. £ E
B rixham N orth Pier H ead ..............................................................................................W . by S. $ S.
P eignton C h u rch ................................................................................................................N . W . by N
T h e Mew'stone, or Great R o ck o ff H ob ’s N ose........................................................... N . E . ^ N ,

D IS C O V E R Y O F A N E W

IS L A N D .

Captain Sullivan, o f the A u d a x, furnished the H ong K on g R egister o f M arch 9th, 1847,
with the follow ing valuable inform ation:—
On the last voyage from H on g K on g to W o osu n g , the A u d a x was forced, by very heavy
N orth-w esterly gales, to take a course to the Eastward o f the usual track. A t 6^ A . M on the 7th o f February, an island was discovered, not laid dow n in the charts on board,
w h ich appeared larger and higher than Patahecock, the Southern island o f the Queshans.
It w’as m ade in latitude 2 8 ° 5 0 ' N orth, and longitude, by chronom eter, 1 28 ° 2 0 ' Fast. A
small Islet, or R ock s, was seen from tw o to three miles N orth-east o f it, w’ith seventy
fathoms all round. T h e y lie betw een the H oapin Su and L o o ch o o Islands.

B E A C O N L IG H T O N T A M P IC O B A R .
D. D . T om p k in s, M ajor Quartermaster at N e w Orleans, in a note dated Quartermas­
ter’s Office, N e w Orleans, addressed to the editor o f the Com m ercial Bulletin, says that
“ a B eacon L ight has been erected by the Assistant. Quartermaster at T a m p ico, on T a m ­
p ico Bar, w hich can be seen from ten to fifteen m iles at sea. A s the erection o f said
L igh t prom ises to be very useful to seam en, their interest would be served by giving this
information publicity.”
S T A N L E Y , F A L K L A N D IS L A N D S .
From the number o f vessels that are continually passing and re-passing the east end o f
these islands, and from the few vessels that com e into this port, is attributed to the ign o­
rance o f m ost m erchant captains that there is a British settlement here where supplies can
be obtained. Therefore the governor has caused to be erected on Cape Pem broke, the
easternmost point o f the island, a triangular beacon, painted white and red. A pilot will
com e o ff to vessels entering Port W illiam . T h e beacon can be seen at a distance o f about
five m iles at sea.

B U O Y O F T H E H E A P S , IN T H E S W IN C H A N N E L .
N otice is hereby given, that the Corporation o f Trinity House has directed the Beacon
B uoy, colored W h ite , w h ich has been heretofore placed at the H eaps Sand, to be taken
aw ay and discontinued, and a N un Buoy o f large size, colored B lack, and surmounted by
a S ta ff and Ball, to be placed in that situation instead o f the W h ite B uoy aforesaid.
Further notice w ill be given w'hen the large Black Buoy has been placed.




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Journal o f Mining and Manufactures.

JOURNAL OF MINING AND MANUFACTURES.
M E T H O D O F M A N U F A C T U R IN G B IC H R O M A T E O F P O T A S H A N D L IM E ,
A N D C H R O M A TE S OF LEAD.
T

h e

follow ing new and econom ical process o f manufacturing the bichromate o f potash,

chrom ates o f lead, and bichrom ate o f lime, discovered by V . A . Jacquelain, an eminent
chem ist, translated from the “ Comptes Rendus ,” o f October 11th, 1847, w ill, w e doubt
not, interest a portion o f the readers o f the M erchants’ M agazine :—
1. Chalk and chrom e ore, previously reduced to a very fine state o f division, are inti­
m ately m ixed in barrels revolving upon their large axis. It is especially requisite that the
ore should be finely pulverized, and passed through a very fine sieve.
2 . T h e mixture is n ow calcined for nine or ten hours at a bright red heat upon the sole
o f a reverberatory furnace, taking care to spread it equally in a layer from 5 to 6 centim .
in thickness, and to renew the surface ten or twelve times with the rake. A t the end o f
this tim e, i f the flume was sufficiently oxidizing, the conversion o f the oxide o f chrom ium
into chrom ate o f lime is effected. T his is easily ascertained ; in the first place, from the
appearance o f the substance, w hich exhibits a yellowish green color ;* and then, because
it has the property o f dissolving entirely in hydrochloric acid, with the exception o f parti­
cles o f sand.
3. T h e very friable and porous mass is n ow crushed under a m ill, m ixed with hot w a ­
ter, and the liquid mass constantly kept in agitation, and sulphuric acid added until the
liquid slightly reddens blue litmus paper. T h is character indicates the com plete change
o f the chrom ate o f lime into bichrom ate, and the form ation o f a little sesquisulphate o f
iron.
4. Som e triturated chalk is n ow gradually added to the liquor until the w’hole o f the
peroxide o f iron is rem oved. T h e bichromate o f lime does not, by this treatment, e x p e rience any change as regards its state o f saturation.
5. A fter being allow ed to stand quiet for a short tim e, the clear supernatant liquid,
w h ich contains only bichromate o f lime and a little sulphate, is drawn off. It m ay now
be used im m ediately to prepare the bichromate o f potash, the neutral and basic chrom ates
o f lead, and even the chrom ates o f zinc, which w ill probably, ere long, be consum ed to a
great extent in the arts, since the oxide o f zinc has already taken the place o f carbonate
o f lead in white paint with drying oil.
F rom the above it is seen that it is useless to prepare the bichrom ate o f potash in order
to obtain the insoluble chrom ates o f lead, zinc, baryta, & c., w’hich must render the pre­
paration o f these products considerably less expensive ; they m ay readily be obtained by
decom posing the bichromate o f lime by the acetate or subacetate o f lead, chloride o f zinc.
& c . W ith respect to the bichrom ate o f potash, it may be as readily obtained, and in a
perfectly pure state, by decom posing the bichromate o f limq with a solution o f carbonate
o f potash, w hich will give rise to insoluble carbonate o f lime, w hich is easily washed, and
a solution o f bichrom ate o f potash, which is concentrated and set aside to crystallize.

M E T H O D O F E X T R A C T I N G I O D IN E F R O M D I L U T E S O L U T IO N S .
T h e follow ing paper on the most advantageous manner o f extracting iodine from dilute
solutions, by J. Persoz, an em inent chem ist, is translated from the “ Journal de Pharm.
e t de Chim.” for August, 1 8 4 7 :—
N o w , that iodine is so extensively used in m edicine, and that its price is constantly on
the increase, the want is felt m ore than ever o f extracting it with the greatest econ om y
both from the waters which contain it naturally, os from those o f baths into the com p osi­
tion o f which it enters, and even from the urine o f the patients submitted to a course o f
iodine. Soubeiram , finding the process previously followed for the extraction o f iodine
* T h is singular peculiarity o f the chrom ate o f lime with an excess o f base, o f retain­
ing the green tint o f the oxide o f chrom ium , must have led to the belief that no chromate
o f lim e was produced, especially as the latter is scarcely soluble in water.




Journal o f Mining and Manufactures.

321

from the m other-waters o f the Varech sodas too tedious and expensive, proposed to pre­
cipitate thig body by sulphate o f copper, to which a certain quantity o f iron filings was
added, with a view to reduce the periodide o f copper to the state o f protiodide. Subse­
quently the protosulphate o f iron was substituted for the iron filings.
T h e irregularity o f the results obtained by both these processes must have struck every
one who has tried them ; it is, therefore, not surprising that a m ore certain m ethod has
been proposed as a substitute. M M . Labiche and Chantrel have described one which is
based uponHhe insolubility o f the iodide o f starch, but which, in practice, presents a diffi­
culty which these gentlem en seem to have overlooked. In fact, iodine com bines with
starch only when it is in a free state ; it is consequently requisite to liberate it from its
com binations by m eans o f chlorine, and this presents an insurmountable difficulty.
H aving been called upon to exam ine this question, I found, in the first place, that the
protacetate o f iron, substituted for the protosulphate, produces a m ore rapid red u ction ;
but, as it is impossible to reckon upon a regular precipitation o f the protiodide o f copper,
ow in g to the influence which the respective proportions o f the solutions em ployed exert,
I had recourse to sulphurous acid, a powerful reducing agent, and whose action upon the
peroxide o f copper, which it reduces partially to the state o f protoxide, was pointed out by
M . Chevreul. A few words will suffice to render this kind o f reaction intelligible. I f 1
grm . o f persulphate o f copper be dis;olved in 150 centigrms. o f water, and to this solu -tion 1 grm. o f sulphite o f soda be added, the liquid acquires a green color, and becom es
turbid. A s the formation o f a precipitate should be avoided, and at the sam e time the
liquid decolorized, the requisite quantity o f sulphurous acid to obtain this double result is
added ; on letting fall a drop o f a solution o f iodide o f potassium into it, it im m ediately
becom es opalescent, the turbidness goes on increasing, and, in the course o f an hour, a
w hite, slightly pinkish precipitate o f the protiodide o f copper is form ed, which is readily
collected by boiling the liquid for a few minutes, and then decanting.
A ccord ingly, in treating ioduretted waters, sulphurous gas should be passed into them
until they exhale a faint odor, in order to convert all the iodine which may exist in the
state o f iodate into ioduretted hydrogen ; then to prevent the formation o f the precipitate
from the mutual action o f the sulphite o f soda and the persulphate o f c o p p e r ; and lastly,
to cause the reduction o f the peroxide o f copper. F or this purpose, therefore, there is
successfully dissolved in the liquid, under treatment, 1 part o f persulphate o f copper and
1 part o f bisulphite o f soda, calculating a p p r o x im a t e ly the amount o f the first for the
quantity o f iodine supposed in solution, upon the fact that about 3 parts o f the persulphate
o f copper are required for 1 part o f the iodide o f potassium or sodium . T h e liquid is
then left to itself or boiled, according to whether the precipitate is desired im m ediately or
after a few hours. On letting the precipitate form in conical vessels, it is easy to collect
it into a small v o lu m e ; in every case it is brought upon a filter, washed, dried, and the
iodine extracted by one o f the know n processes. C alcining the protiodide o f copper, pre­
viously mixed with 2 equivs. o f peroxide o f m anganese, m ay be successfully em ployed.
T h e reaction above described is so readily produced, that we have no doubt that in future
all ioduretted waters, even the w eakest, will be treated by this process ; and that it will
likew ise be successfully em ployed for the analyses o f mineral waters containing bromine
and iodine.

5
P R O D U C T I O N O F S IL V E R IN S P A I N .
On the old continent, Russia is not thfe only State w hich has increased its production o f
precious metals. T h e progress has been almost general am ong such o f the European
States as possess them . T h e success which Russia has obtained, has been striking— in­
com parable. Nevertheless, it will be seen that som e other nations have also m ade pro­
gress worthy o f being cited. A t the com m encem ent o f the century, Europe, without
counting Russia, (w hich we here take in its w h ole extent, both to the east and west o f
the Oural M ountains,) yielded, in pure m etal, 1,300 kilogram m es o f gold, and 52,670 kil­
ogram m es o f silver. In 1835, the quantity o f gold was about the same, but the produc­
tion o f silver was increased by about '15,000 kilogram m es. T h e production o f gold and
silver in E urope was, in 1835, as at the com m encem ent o f the century, concentrated in
G erm any, and in the low er part o f the valley o f the Danube— that is, to speak m ore pre­
cisely, in the Hartz Mountains, in H a n ov er; in those o f Erzgebirge, which are divided
am ong S axony, B ohem ia, and Prussia, in H ungary and Transylvania— the last two
countries, let us repeat, having pretty nearly the m onopoly o f gold. Out o f Germ any,
and the valley o f the Danube, there was not produced in 1835 m ore than 10,000 kilo­
gram m es o f silver, o f a value o f about 2,000,000f., and from 20,0 00 to 25,0 00 kilogram m es
o f gold. Industry, w h ich, since 1835, has taken a great extension in Europe, has paid

VOL. XVIII.— NO. III.




21

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Journal o f Mining and Manufactures.

m ore attention to the precious metals than it had previously done. A t present, only
little is w anting to make the production o f silver double what it was in 1835. T h e prin­
cipal cause o f this developm ent is, that Spain, which possesses important silver mines,
form erly very celebrated, has again begun to w ork them.
T h e m ines o f gold, and particularly o f silver, in Spain, have enjoyed great celebrity.
Strabo, whose exactitude is better appreciated every day, states the fecundity o f them.
L o n g before him, the prophet Ezekiel had signalized it in his threatening prophecies against
T y r e . T h e deposits o f silver in the peninsula were w orked with success und^r the M oors,
as under the R om ans. Since the country has had m ore liberty, the w ork in g has been
resumed ; and, at the same tim e, the numerous beds o f coal, with inexhaustible m ines o f
iron, which nature has placed in the Asturias, close to the sea, have begun to be w orked
with vigor.
T h e mines o f lead, containing silver, situated in the kingdom s o f M urcia and Granada,
at a short distance from the Mediterranean, are those which form erly yielded, and still
yield , a great quantity o f silver. T h e lead, how ever, is not always associated with silver.
T h e mines o f Sierra de G ador, situated behind A lm eria, which have yielded as m uch as
39,000,000 kilogram m es o f lead, and still yield from 13,000,000 to 14,000,000 k ilo­
gram m es, do not contain silver ; but the mines which are behind Carthagena, particularly
at A lm azarron, and still m ore particularly those that are w orked in a little vale, called
the Baranco Jaroso, in the Sierra Alm agrera, in the kingdom o f Granada, have a yield o f
silver very remarkable, being 1 per 100 with respect to the lead. H aving been success­
ively visited by several very intelligent French engineers, the mines o f the South o f Spain
w ere, in 1845, w orked anew by Mr. Pernolet, director o f the m ines o f Pouliaouen, in
Brittany. A cco rd in g to this gentlem an, the single mines o f the Sierra A lm agrera yield,
at present, at least 40,0 00 kilogram m es o f silv e r; and consequently, the total extraction
o f the whole peninsula cannot be estimated at few er than 50,000 kilogram m es.

S L A V E R Y vs. M A N U F A C T U R E S .
It affords us great pleasure to lay before our readers a few passages from an address o f
Dr. R c f f n e r ; as the author, a distinguished Virginian, takes a liberal and enlightened view
o f the subject.

Slavery and its evils w ill disappear, w hen such views as those put forth

in this address becom e m ore generally understood— in other w ords, w hen our Southern
friends discover that it retards the progress o f wealth and industry.
that, “ i f Dr. R uffner was a N orthern m an, and

A cotem porary says

had visited Virginia, and promul­

gated sentiments like those in the address, he would have fared badly.”
our Southern friends so sensitive on the subject as that.

W e do not think

T h e N orth is as much opposed

to Southern interference, as the South is to N orthern, and quite as sensitive ; and w e are
perfectly w illing that they should be themselves con vinced o f the evils o f slavery, as we
are quite sure that the rem edy will be applied the sooner.
It matters not to our argument, whether a high tariff or a low tariff be thought best for
the country. W hatever aid the tariff m ay give to manufactures, it gives the sam e in all
parts o f the U nited States. U nder the protective tariff formerly enacted, manufactures
have grown rapidly in the free S tates; but no tariff has been able to push a slaveholding
State into this important line o f industry. Under the present revenue tariff, manufactures
still grow in the N orth ; and the old South, as might be expected, exhibits no m ovem ent,
excep t the custom ary one o f em igration. W e hear, indeed, once in a while, a loud re­
port in Southern newspapers, that “ the South is w aking up,” because som e new cottonm ill, or other m anufacturing establishment, has been selected in a slave S ta te ; a sure
sign that in the slave States an event o f this sort is extraordinary. In the free States, it
is so ordinary as to excite little attention.
E ven the com m on m echanical trades do n ot flourish in a slave State. S om e m echan­
ical operations must, indeed, be performed in every civilized country ; but the general rule
in the South is, to import from abroad every fabricated thing that can be carried in ships,
such as household furniture, boots, boards, laths, carts, ploughs, axes and axe-helves, b e­
sides innumerable other things, w hich free communities are accustom ed to m ake for
them selves. W h a t is m ost wonderful is, that the forests and iron m ines o f the South
supply, in great part, the materials out o f which these things are m ade. T h e Northern
freem en com e with their ships, carry hom e the timber and pig-iron, w ork them up,' sup­
ply their ow n wants with a part, and then sell the rest at a good profit in the Southern




Journal o f Mining and Manufactures.

323

markets. N o w , although m echanics, by setting up their shops in the South, could save
all these freights and profits, yet so it is, that Northern m echanics w ill not settle in the
S outh, and the Southern m echanics are undersold by their N orthern competitors.
N o w connect with these wonderful facts another fact, and the mystery is solved. T h e
number o f mechanics in different parts o f the South-, is in the inverse ratio o f the number
o f slaves; or, in other words, where the slaves form the largest proportion o f the inhabit­
ants, there the mechanics and manufacturers form the least. In those parts only where
the slaves are comparatively few , are many m echanics and artificers to be found ; but even
in these parts they do not flourish, as the same useful class o f men flourish in the free
States. Even in our valley o f Virginia, rem ote from the sea, m any o f our m echanics can
hardly stand against Northern com petition. T his can be attributed only to slavery, which
paralyzes our energies, disperses our population, and keeps us few and poor, in spite o f
the bountiful gifts o f nature, with which a benign Providence has endow ed our country.
O f all the States in this U nion, not one has, on the whole, such various and abundant
resources for manufacturing as our ow n Virginia, both East and W est. O nly think o f her
vast forests o f timber, her mountains o f iron, her regions o f ’stone-coal, her valleys o f lim e­
stone and marble, her fountains o f salt, her immense sheep-walks for w ool, her vicinity to
the cotton-fields, her innumerable water-falls, her bays, harbors, and rivers, for circulating
products on every side— in short, every material, and every convenience necessary for
m anufacturing industry.
A b ov e all, think o f R ichm ond, nature’s chosen site for the greatest manufacturing city
in A m erica— her beds o f coal and iron just at hand— her incomparable w ater-power— her
tide-w ater navigation, conducting sea-vessels from the foot o f her falls— and above them
her fine canal to the mountains, through which lie the shortest routes from the Eastern
tides to the great rivers o f the W est and the South-west. T hink, also, that this R ich ­
m ond , in old Virginia, the “ mother o f States,” has enjoyed these unparalleled advantages
aver since the United States became a nation— and then think again, that this same R ich ­
m ond, the metropolis o f all Virginia, has few er manufactures than a third-rate N e w E n g ­
land town— fewer, not than the new city o f Low ell, which is beyond all com parison— but
few er than the obscure place called Fall R iver, am ong the barren hills o f Massachusetts—
and then, fellow-citizens, what will you think, what must you think, o f the cause o f this
strange phenom enon? O r, to enlarge the scope o f the question, what must you think has
caused Virginians in general to neglect their superlative advantages for manufacturing
industry— to disregard the evident suggestions o f nature, pointing out to them this fruitful
80u r c e o f population, wealth and com fort?
Say not that this state o f things is chargeable to the apathy o f Virginians. T hat is
nothing to the purpose, for it does not go to the bottom o f the subject. W h a t causes the
apathy ? That is the question. Som e imagine that they give a good reason w hen (leav­
in g out the apathy) they say, that Virginians are devoted exclusively to agriculture. But
w h y should they be, when their agriculture is failing them, and they are flying by .tens o f
thousands from their worn-out fields to distant countries? N ecessity, com m erce, and
manufactures. W hat is the reason o f that? I f a genial clim ate, and a once fertile soil
w edded them to agriculture, they should have wedded them also to their native land.
Y e t, w hen agriculture fails them at hom e, rather than let m ines, and coal-beds, and
water-falls, and timber-forests, and the finest tide-rivers and harbors in A m erica, allure
them to manufactures and com m erce, they will take iheir negroes and emigrate a thou­
sand miles. T h is remarkable fact, that they will quit their country rather than their ruin­
ous system o f agriculture, proves that their institution o f slavery disqualifies them to pursue
a n y occupation, except their same ruinous system o f agriculture. W e admit that some
few individuals should be excepted from this con clusion ; but these few being excepted,
w e have given you the conclusion o f the w hole m atter; and, as Lorenzo D o w used to
say, you cannot deny it.

I M P R O V E M E N T IN R A I L R O A D IR O N M A N U F A C T U R E .
M r..H oratio A m es, o f Falls V illage, Ct., has recently perfected a highly important im ­
provement in the manufacture o f iron for railroads. Mr. A ines, in the progress o f his
business, which is m ainly devoted to the manufacture o f iron for the axles and tires o f
railroad wheels, observed that the tires often split or separate in lines parallel with the
plane o f the w h e e l: that is, in the direction o f the length o f the bar o f which they are
formed. H e also observes that the rails o f railroads often split lengthwise, and that the
upper surface and the inner edge, under the action o f the wheels and their flanches, e x­
foliate : that is, split o ff in lamina or scales.
A s an experienced iron-m aster, he kn ew that bar-iron consists o f fibres that lie parallel




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Journal o f Mining and Manufactures.

to one another, and running in the direction o f the length o f the b a r; that these fibres
and their parallelism are due to the gradual elongation o f the crystals o f cast-iron, when
changed into wrought-iron in the process o f ham mering and rolling, by which the crystals
are gradually elongated, and in the same direction ; and that the attiaction o f cohesion
between the particles constituting each fibre is greater than between the different fibres,
as it is well know n that bar-iron has so m uch m ore tenacity in the direction o f the fibres
than across them.
F rom the consideration o f these w ell-know n facts, he concluded that the splitting and
exfoliation were due to the want o f sufficient adhesion between the various fibres consti­
tuting the bar, and that the only rem edy would be to change the direction o f the fibres
by twisting the bar in the process o f rolling, so that the fibres should be twisted like the
fibres o f a hempen rope, thus substituting the tenacity o f the fibres for the force which
binds them together. In this w ay, it will be observed, that to split or exfoliate a bar o f iron,
it would be necessary to cut the fibres, as the bar acquires in its cross section the strength
o f tenacity which, on the old plan, it possessed in a longitudinal direction. T h is twisting
o f the fibres is effected in the operation o f rolling, by m aking the rolling-m ill o f tw o sets
o f rollers; the first set to turn on their axis in opposite directions, to draw the bar o f iron
betw een them in the usual manner, and to pass it to the second set, w hich, in addition to
their rotation on their axis for drawing the bar, rotate together about the axis o f the bar,
and thus twist the fibres as the bar is drawn through and elon g ated ; thus causing the
fibres to assume a spiral or herical direction around the central line or axis o f the bar. In
this way it w ill be seen that the bar cannot split in straight lines without breaking the
fibres, and that, therefore, the only wear o f railroad bars and tires thus m ade, will be due
to friction alone. Mr. Arnes has patented his improvement both in England and A m eiica.

N E W M E T H O D O F T R E A T IN G P L A T IN U M O R E S.
T h e follow ing account o f a new m ethod o f treating platinum ores, by J. H ess, is trans­
lated from the “ Journal fu r Prakt. C h e m for June, 1847.

M r. H ess sa y s :—

“ I have frequently observed that the expense o f treating platinum ores is principally
ow in g to their being acted upon with great difficulty by aqua regia, o f w hich they require
from 8 to 10 times their w eig h t; this is avoided by the follow ing process:— T h e ore is
fused with from 2 to 3 times its w eight o f zinc ; when this has been done w ell, a perfect­
ly hom ogeneous, very brittle mass is obtained, which is reduced to powder, and passed
through a sieve. T h e alloy is treated with dilute sulphuric acid, which is added in small
portions, and renewed when the liquid is saturated; subsequently an acid o f S 0 8- j- 6 H 0
is used, and its action assisted by heat. W h en nothing further dissolves, the residue is
washed with water. T h e sulphuric acid removes the zinc and the greater portion o f the
ir o n ; the solution is not rendered turbid by sulphuretted hydrogen. T h e residue, which
is in a very fine state o f com m inution, is now treated with nitric acid, which rem oves
iron, copper, lead, and sometimes palladium from it. T h e iron proceeds from the zinc
em ployed. T h e residue, which is at present freed from those metals which render the
w orking difficult, is., now treated as usual with aqua regia, in which it dissolves with
great readiness on account o f its fine division. It m ay readily be seen that, when the
acid contains much muriatic acid, a large quantity o f osmium -iridium is dissolved ; an e x ­
cess o f hydrochloric acid should consequently be a v oid ed /’

L O N D O N " A N D L I V E R P O O L E X P O R T O F M E T A L S T O IN D IA .
COMPARATIVE STATEMENT OF THE EXPORTATION OF METALS FROM LONDON AND LIVERPOOL, TO
ALL INDIA, IN THE FOLLOWING YEARS :---/-------- Iron.--------- ■,
Years.

Spelter. Copper.
Tons.
Tons.

1847...........................
1 846.............. ............
1 84 5 .............. ...........
1 84 4 .............. ...........
1 84 3 .............. ...........
1 84 2 .............. ...........
1 841.............. ...........
1 840............... ............

3 ,244
4,577
3,184
5,873
4,041
1,640
950
2,776




British.
Tons.

3,553
10,976
3,583
8,268
4,849
11,973
7,138 31,485
6,452 32,689
5,553 24,3 96
3,547 34,179
3 ,9 0 1 ■27,832

Foreign. Tin plates . Lead.

Steel. Q ’ ksilver.

Tons.

B oies.

Tons.

Tons.

Bottles.

847
3,506
1,196
3,067
2,167
845
1,391
3,012

7,308
6,988
10,921
17,017
14,609
4,181
9,527
7,434

1,099
630
1,039
2,257
2,061
2,330
2,042
1,920

552
815
1,681
1,676
1,418
635
838
490

50
755
2 58
1,332
789
995
1,472
2 ,193

Journal o f Mining and Manufactures.

325

T H E B O H E M IA G L A S S M A N U F A C T U R E .
Thi9 article is manufactured chiefly in Bohemia, and in the w oody, mountainous dis­
trict. T h e materials consist chiefly o f the same as those used in England. T h e m anu­
facturers believe there is no difference, except in the proportions o f the materials and in
the fuel, which is exclusive^ w ood , and produces a more intense heat than c o a l : the feed­
ing the furnace with the latter material creating a change in the temperature detrimental
to the fluid above, and never sufficiently intense. T h e mountains are inhabited by a po­
pulation whose industry, morals, hospitality, and kindness o f manners, do honor to the
whole human race. T he factories are placed generally in the middle o f one o f the vil­
lages, the extent o f which can only be know n by goin g from house to house— so closely is
each hid in its ow n fruit bow er, and so surrounded bv shrubs and flowers, that the eye can
only pick up the buildings by their blue sm oke. Som e o f the villages are elongated to
three miles.

B E E T R O O T S U G A R IN G E R M A N Y .
A letter received from M agdeburgh, and dated the 30th ultimo, contains an account o f
the progress o f the production o f beet root sugar in G erm a n y:—
T h e price o f beet root sugar, which kind has entirely superseded cane sugar in our dis­
trict, slightly declines from week to w eek. G ood strong loaves manufactured from cane
sugar by the refiners at Stettin and Berlin, cost $ 1 8 per c w t .; a quality in every respect
equivalent, in color as well as strength, and being o f a pure taste, made here from beet
root, sells at $ 1 7 , or from 5 to 6 per cent less; and with such a price, which leaves a
clear profit o f 23 per cent, our establishments here are found to answer exceedingly well.
T h e progress made in this branch o f industry is astounding. T h e produce o f two beet
root suo:ar houses in this neighborhood, is o f such a superior quality, that in none o f the
refineries within the boundaries o f the Custom s U nion where cane sugar is used, an arti­
c le is made which could successfully com pete with it. A number o f new establishments
are beina: erected every year in this neighborhood, (within a circuit o f from 6 to 8 G er­
man miles,) on the left bank o f the Elbe, and in this season the quantity o f beet root
sugar produced here will exceed 200,000 cw t.
*

C H A S E ’ S C A R D S P IN N E R F O R M A N U F A C T U R E R S .
T h e 14 Tribune ” thus describes a curious and valuable invention for spinning cotton or
w oollen , or other fibrous substance:—
In the exhibition at Castle Garden appears a very unpretending looking m achine call­
e d Chase’ s Card Spinner, (the property o f Mr. G eorge L a w , o f Baltim ore,) which, before
Jong, is probably destined to m ake considerable noise in the manufacturing world. Chase’s
C ard Spinner covers cotton, or any yarn, with w ool or other fibrous substance, and covers
it so effectually as to deceive the most experienced spinner, i f deception were intend ed ;
but the contrary is the fact, as the introduction o f the cotton is the great advantage claim ed
by the inventor. By it the yarn is said to be made stronger, more even, easier to work,
w on ’ t shrink, and makes a cloth twice as durable as if o f all w ool. T his is done at less
labor and cost, with fewer hands, and with less room than at present; so, take it any w ay
you w ill, an advantage presents itself.

P R E P A R A T IO N O F C O F F E E B Y R O A S T IN G .
W e find in Sillirnan’ s Journal, one o f the m ost valuable scientific publications in the
w orld , the follow ing m ethod o f preparing coffee :—
C offee roasted only till it becom es slightly red, preserves the maximum o f weight and
arom a, but gives out less coloring matter. In this state 100 pounds are found to have lost
15, but have increased to the bulk o f 130. Roasted to a chestnut color, as is com m only
d on e, the loss is 2 3 per cent, while the increase in volume is from 100 to 153. T h is
sw ellin g o f the grain depends upon the property which the nitrogenous matter deposited
within the tissue has o f puffing up remarkably when heated. I f the heat is continued
until a dark brown color is produced, and the grain is covered with a sort o f glaze, the
loss is 25 per cent, while the original quantity o f nitrogen, 245 per cent, is reduced to 177,
bein g a loss o f one-fourth.




326

Journal o f Banking, Currency, and Finance.

JOURNAL OF BANKING, CURRENCY AND FINANCE.
B A N K C A P IT A L O F C IT IE S IN T H E U N IT E D S T A T E S .
T

h e

f o ll o w in g list c o m p r is e s

a ll

c it ie s a n d

to w n s

in

th e

U n it e d

S ta te s w h ic h p o sse ss

o n e m i l l i o n o f d o l l a r s b a n k c a p i t a l :—

No. Bnnks.
New' Y o r k ................
N ew Orleans............
Charleston.................
Hartford.....................
Pittsburgh..................
A lbany........................
Savannah...................
N ew H a ven .............
L exin gton, K y ........
T r o y ...........................
N ew Bedford............
Petersburgh...............
W ashington, D. C ..
B oston ........................

25
6
7
11
5
4
7
4
4
2
5
4
3
3
2G

Capital.

$24,003,000
17,663,000
9,153,000
6.973,000
3,732,000
2,755,000
2,462,000
1,890,000
1,678,000
1,517,000
1,475,000
1,300,000
1,170,000
1,029,000
18,863,000

No. Banks.

Capital.

14
23
3
3
6
3
7
6
1
3
4
5
3

$9,222,000
8,040,000
6,180,000
2,960,000
2i>25j000
2,115,000
1,750,000
1,664,000
1,500,000
1,408,000
1,260,000
1,1611,000
1,000,000

Philadelphia.............
Providen ce................
N ashville...................
Augusta, G e o ...........
R ichm ond..................
Salem , M ass.............
Cincinnati..................
M obile........................
N ew a rk.....................
Utica...........................
Rochester...................
W ilm ington , N . C ..

—
T o t a l...................... .

194 $136,547,000

R e m a r k s .— T hese figures are by n o m eans indicative o f the relative wealth or o f busi-

ness done at the several places named. There are several cities not m entioned where
there is a large export and import trade, and also large wealth. A m o n g these w e m ay
especially mention Buffalo, Cleveland, St. Louis, B rooklyn , N . Y ., Charlestown, M ass.,
N orfolk, N antucket, and N e w L on d on . T h e amount o f bank capital at M obile is very
small, while its exports are equal to ten millions annually.— Bankers' Magazine.

B O S T O N IN S U R A N C E C O M P A N IE S .
W e are indebted to the politeness o f J oh n L. D

im m ock ,

E sq., President o f the W arren

Insurance C om pany o f B oston, for the follow ing condensed synopsis o f the information
contained in the last A nnual Abstract o f Returns from Insurance Offices in M assachusetts,
so far as relates to the stock com panies in B oston :—
SYNOPSIS FROM THE YEARLY RETURNS OF THE INSURANCE COMPANIES, WITH SPECIFIC CAPITALS,
IN THE CITY OF BOSTON, DECEMBER 1 , 1 8 4 7 .
RESOURCES.

O ffices .

A m erican.................................
Boston..............................
Boylston....................................
Firem an’ s ................................
Franklin...................................
H o p e .........................................
Manufacturers’ ......................
M ercantile M arine...............
M erchants’ .............................
N ational...................................
N eptune...................................
Suffolk.......................................
T r e m o n t ..................................
United States..........................
W a r re n ............ ........................
W ashington.............................
T o t a l ....................................




U. States, Stnte,
Hank, Railroad,
and other Stocks,
at par value.

$ 3 0 8 ,6 8 0
268,000
244 ,60 0
2 7 1 ,46 5
245,100
170,860
4 22,525
3 06,025
516,975
195,100
187,420
1 52,150
89,0 75
92,150
68,180
70,870
$ 3 ,6 0 9 ,1 7 5

Real Estate, &
mortgages on
the same.

Premium notes
Loans on collat- on risks termieral and person- nated, deductal security, and ing those doubtcash on hand.
ful or bod.

$ 4 6 ,0 0 0

$ 1 8 ,9 2 6

3 8 ,0 8 2

7 ,5 8 6

1 3 ,7 2 9

6 0 ,0 0 0

57 ,0 7 0

2 0 ,3 9 3

1 6 2 ,7 0 0

3 6 ,7 2 9

2 1 ,6 0 0
9 1 ,4 7 6

57 ,6 7 8

$ 3 1 ,4 4 8

2 4 ,0 2 8

2 4 ,4 8 2

2 ,3 8 1

1 0 7 ,1 2 7

1 1 ,9 1 4

1 ,0 9 9

1 9 ,0 5 6

1 0 9 ,0 0 0

6 7 ,5 7 3

2 9 ,9 1 5

2 2 5 ,8 0 0

2 9 1 ,7 5 7

7 ,8 7 0

8 1 ,9 0 0

1 0 ,6 9 6

3 4 ,5 1 8

69 ,9 6 5

6 ,4 1 4

9 ,2 8 4

2 7 ,0 0 0

4 1 ,8 6 3

7 1 ,2 3 6

5 5 ,0 0 0

61 ,3 7 0

2 2 ,3 2 5

3 7 ,3 0 0

4 4 ,4 0 7

3 9 ,2 1 7

9 0 ,0 0 0

3 3 ,5 5 8

2 4 ,5 2 6

$ 1 ,1 1 5 ,8 2 3

$ 8 6 8 ,3 3 5

$ 3 6 1 ,8 4 0

A m erican........................................... $ 3 0 0 ,0 0 0
300,000
Boston....... , ............................
B o y lsto n .................................
300,000

H ope..........................................
Manufacturers’ ......................
M ercantile M arine................
M erchants’ ..............................
N ational...................................
N eptune...................................
Suffolk.......................................
T rem ont............................
United States..........................
W arren .....................................
W ashington.............................

200,000
400,000
300,000
500,000
500,000
200,000
225,000
200,000
200,000
150,000
200,000

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

$ 4 ,5 7 5 ,0 0 0

$ 7 4 ,5 0 0

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

PREMIUM NOTES ON RISKS NOT TERMINATED, AMOUNT AT RISK, AND LOSSES PAID.
O f f ic e s .

A m erican .....................

p

B oylston......................
Franklin.......................
Manufacturers’ ...........
M ercantile M arine...
M erchants’. . ..............
N ational......................
N eptune......................
Suffolk.........................
T rem on t......................
United States............

Premium notes
on risks not
terminated.

$ 9 4 ,0 6 8
98,302
62,982
54,241
16,805
48,2 00
51,646
115,180
52,144
253,879
33,763
154,765
49,662
98,897
80,314

T o ta l....................... . $ 1 ,2 6 4 ,8 4 8

Fire.

Marine.

$ 3 ,0 9 0 ,8 9 0

$ 4 ,5 1 2 ,0 2 3
2 ,491,142
2,771,415

3 ,253,758
10,898,451
3,6 5 9,87 3

1,982,210
632,479
2,5 4 3,73 8
1,972,509
9,0 3 1,02 6
6,131,932
9 ,624,124
1,354,444
4,337,921
1,255,741
2,4 3 8,96 0
2,165,329

12,775,967
13,609,830
7,8 3 2,97 4
4,0 8 3,73 6
563,065
1,263,011
507,795

$ 6 1 ,5 3 9 ,3 5 0

$ 5 3 ,2 4 5 ,0 1 2

Losses paid frorn Dec. 1 , 1 8 4 6 ,
to Dec. 1l, 1847.
Fire.
Marine.

$ 2 2 ,0 1 4
445
46,2 06
13,348
83,577
11,344
10,452
1,791
500
25

$ 1 8 9 ,6 8 2

$ 1 0 7 ,4 6 0
101,996
48,947
87,593
24,894
40,6 88
55,541
124,435
40,464
3 3 7 ,09 5
44,057
275 ,49 4
81,655
87,420
85,053
$ 1 ,5 4 2 ,7 9 2

RECAPITULATION.
Resources.

Liabilities.

Difference.

Manufacturers’ ..........
M ercantile M arine..
M erchants’.................. .
N ational......................
N eptune......................
Suffolk.........................
T rem on t.....................
United States.............
W a rren .......................
W ashington...............

$ 4 0 5 ,0 5 4
327,397
382,063
4 70,894
348,406
197,723
633,042
326,180
723,463
720,527
3 14 ,52 4
237,813
2 2 9 ,17 4
230,845
189,104
218,954

$ 3 5 4 ,5 9 5
305,267
338,847
374,490
3 3 1 ,63 4
205,900
571,745
311,450
594,937
5 81.833
2 84 ,54 4
2 42,817
2 88,934
212,718
183,692
2 05,000

$ 5 0 ,4 5 9
22,130
43,216
96,4 04
16,772
8,177
61,297
14,730
128,526
138,694
29,990
5,004
59,760
18,127
5,412
13,954

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

$ 5 ,9 5 5 ,1 7 3

$ 5 ,3 8 8 ,4 0 3

O f f ic e s .

A m erican ................... .
B oston.........................
B oylston......................
Firem an’s...................
Franklin......................




Per cent
above par.

16
7
14
32
5

8-10
4 -1 0
4-10
1-10
6-10

15
4
25
27
15

3 -10
9 -10
7-10
7-10

Per cent
below par.

• 4 1-10

2 2-10
29 9 -10
9 M 0
3 6-10
7

328

Journal o f Banking, Currency, and Finance.
C O N D IT IO N O F T H E B A N K S O F P E N N S Y L V A N IA .

ABSTRACT STATEMENT OF THE CONDITION OF THE BANKS OF THE COMMONWEAI.TH— THEIR RESOURCES, LIABILITIES AND CIRCULATION— FROM THE AUDITOR GENERAL’ S OFFICIAL REPORT
TO THE HOUSE OF REPRESENTATIVES, JANUARY 19, 1848.

B anks.
B ank o f P enn sylvania........................
Philadelphia Bank................................
Bank o f N orth A m e r ic a .....................
Com m ercial Bank o f Pennsylvania.
Farm , and M ech.’s Bank o f Philad’ a
Girard B ank..................... ) .....................
Southwark B an k ....................................
B ank o f C om m erce...............................
M ec.’s Bk. o f C ity and Co. o f Phil’a
W estern Bank o f Philadelphia.........
B ank o f N orthern L iberties..............
“
Penn T ow n sh ip ....................
M anf. and M ech.’s B ank o f N . L ib.
Kensington B a n k ...................................
B ank o f G erm antow n..........................
“
Pittsburgh..............................
E xch an ge Bank o f Pittsburgh............
M erch. and Manf.’s Bk. o f Pittsburgh
F anners’ Deposit Bk. o f Pittsburgh.
M iners’ Bank o f P o t’sville..................
Farm ers’ Bank o f Schuylkill C ounty
“
Bucks C ounty
D oylestown Bank o f Bucks C ou n ty .
B ank o f Chester C ounty......................
Harrisburgh B a n k .................................
Dauphin Deposit B a n k ........................
M iddletow n B a n k ..................................
Lancaster B ank.......................................
Lancaster C ounty B ank........................
Farm ers’ B ank o f R eading................
Bank o f N orthum berland....................
W est Branch B a n k ................................
Colum bia Bank and Bridge Com pany

Bills
discounted.

C ir c u l a t i o n .

D ollars.

D ollars.

2,354,6-14 34
2 ,781,045 60
1,869,664 24
1,583,539 32
2,414.399 63
648,550 20
590,117 82
460,816 40
1,359,186 22
1,252,448 83
961,232 91
757,000 96
781,879 53
692,542 16
215 ,60 6 20
1,586,216 22
1,180,101 12
843,487 37
219,593 57
561,266 39
2 0 7 .56 6 16
174,181 87
116,594 64
434,404 65
457 ,81 2 84
376,666 2 5
261 ,08 4 06
511,837 82
322,054 45
611,696 85
324 ,89 2 97
118.038 92
252 ,92 7 98

492,092
693,384
430,426
258 ,42 9
613,925
255 ,33 5
237 ,02 0
155,545
367,055
277,365
310,147
242,770
280.715
221,517
80,670
440 ,64 0
546,670
370,885

50
04
41
00
97
00
00
00
00
00
00
00
00
50
00
00
00
00

330 ,68 5
130,320
73,269
90,435
351,552
355,680

00
00
00
00
00
00

274 ,03 5
585 ,65 0
255,765
535,670
340,661
169,522
175,324

00
00
00
00
16
50
04

Specie and
Treas. Notes.
D ollars.

272,640
649.718
981,993
257,462
416,349
320,356
298 ,92 5
185,473
192,702
189,841
248,089
203,050
164,272
143.765
25,915
329,417
234 .71 8
128,737
19,848
28,593
17,633
24,7 12
66,025
92,205
61,125
77,617
125,907
252 ,96 3
63,709
196.916
51,371
13,468
47,045

Due
Depositors.
D ollars.

(19 828,249 91
87 1,409,571 95
02 1,278,491 08
80
761,226 95
4 4 1,468,751 28
68
4 22.030 2 0
44
525,292 29
225.239 8 0
61
64
604,062 16
651,606 80
24
87
744,495 69
29
500 ,33 0 84
33
323,759 85
27
408,767 61
83
114,128 09
18
864,119 67
77
307,013 85
17
2 20,366 79
163,170 14
83
49
167,997 97
24
154,003 00
63,886 75
54
56
63,356 92
47
2 1 5 .3 7 3 70
87
138,755 99
13
245 .05 9 16
43
4 69,995 88
49
3 67,278 81
83
25
54
47
58
64,177 95

U N IT E D S T A T E S ’ E X P O R T , I M P O R T , A N D C O I N A G E O F S P E C IE .
T h e follow ing table, derived from official returns, show s the total value o f the imports,
exports, and coinage o f the United States for the last tw enty-seven y e a rs ; that is, in each
year from 1821 to 1847, in clu siv e:—
Years.

Imports
o f Specie.

Exports
o f Specie.

Years.
Coinage.

1 82 1 . $ 8 ,0 6 4 ,8 9 0 i >10,478,059 $ 1 ,0 1 5 ,0 8 7
1822.
3,369,846
10,810,180
894,786
1823.
5 ,097,896
6,372,987
967,075
1 82 4 .
8,379,835
7,014,552 1,845,677
8,7 9 7,05 5
1 82 5 .
6,150,765
1,720,968
4 ,704,533 2,094,335
1 82 6 .
6,880,957
8,014,881) 3,000,765
1827.
8,151,148
8 ,243,476 1,715,745
1828.
7,489,741
4,924,020 2 ,291,295
1829.
7,403,612
2,178,773 3,138,505
8 ,155,964
1830.
9,014,931 3 ,889,870
1831.
7,305,945
1832.
5,907,504
5,656,340 3,377,455
3,737,550
7,070,368
2,611,701
1833.
2,0 7 6,75 8
7,369,272
1834. 17,911,642

Imports
o f Specie.

* Prior to 1843, the com m ercial year ended 30th Septem ber.
the 30th June.




Exports
o f Specie.

Coinage.

1 83 5 . $ 1 3 ,1 3 1 ,4 4 7 $ 6 ,4 7 7 ,7 7 5 $ 5 ,6 2 9 ,1 7 8
1836.
13,400,881 4 .324,336 7,741,800
10,516,414 5,976,249 3 ,244,315
1837.
17,747,116 3,508,046 4 ,142,838
1838.
5,595,176 8,776,743 3,545,181
1839.
8,882,813 8 ,417,014 3,4 0 2,00 5
1840.
4,988,633
10,034,332 2 ,224,347
1841.
1 842.
4,087,016 4,813,539 4,166,920
1843* 22,320,335 1,520,791 11,943,547
1844.
5,830,429 5 ,454,214 7.633,780
4 ,070,242 8,606,495 5,649,647
1 845.
1846.
3 ,777,732 3 ,481,417
6,592,757
1 847.
24,121,189
1,845,119 20,758,048
In 1843 and sin ce, on

Journal o f Banking, Currency, and Finance .

329

C O N D IT IO N O F T H E B A N K O F F R A N C E :
FOR THE THREE MONTHS ENDING 27TH DECEMBER, 1 8 4 7 .

T h e quarterly account o f the Bank o f France for the three months ending the 27th
D ecem ber, gives the follow ing statement o f its present position as com pared with the quar­
ter ending the 25th o f Septem ber, so far as regards those items o f the account which are
subject to variation.

On the debit side o f the a cco u n t:—
S ept., 1 8 4 7 .

Bank notes outstanding............................................................
Treasury accounts................................................................... .
Private accounts..........................................................................
Dividends payable......................................................................
Sundry accounts due..................................................................
T o ta l.........................................................................................

Dec ., 1 8 4 7 .

Francs.

Francs.

230,143,811
66,506,476
4 9 ,6 8 7 2 4 9
707,675
4 ,085,340

234,18 0 ,4 2 3
65,342,280
49.3 35 ,1 3 5
6,700,629
1,450,471

351,190,551

357,008,938

On the other side o f the accou nt:—
Cash in hand................................................................................
C om m ercial bills discounted (including those on Paris
discounted by branch banks)...............................................
Advanced on bullion..................................................................
A d vanced on public securities................................................
Private accounts current...........................................................
Deposited in public securities..................................................
B alance o f governm ent sold, but not yet paid for............

94,580,323

109,642,356

201,377,567
208 ,50 0
10,339,202
71,128,718
272,399
14,449,994

183,105,458
4 42,100
11,769,802
8 4,289,089
2 ,773,992
6,348,408

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

392,356,703

398,371,199

From this statement, it appeal’s that the bank notes in circulation have increased about
4 .0 0 0.

000 francs, while the stock o f bullion has increased about 15,000,000 fra n cs; so

that, as far as concerns the balance o f the cash assets o f the bank, when com pared with
their liabilities on bank notes, their position has been improved to the extent o f about
11.000.

000 francs, or about =£430,000.

A bou t 8,000,000 francs have been received the last quarter on account o f the govern­
ment securities previously sold, leaving only about 6,300,000 francs to be yet received
from the Russian governm ent as balance o f this transaction.

T h e amount o f governm ent

securities purchased since the sale to Russia has, how ever, increased from the mere nom i­
nal sum, in Septem ber, o f 272 ,00 0 francs, to the am ount, at present, o f 2,774,000 francs.
T h e treasury account remains nearly the sam e as b e fo re ; and the same remark m ay
be applied to the private account, and the advances on bullion and stock.
T h e amount o f com m ercial bills under discount has decreased about 18,000,000 fra n cs;
and the total am ount discounted during the quarter, including the branch banks, shows a
decrease o f 3 1,000,000 francs.

IN C R E A S E IN T H E Q U A N T IT Y O F G O LD .
T h e increased production o f gold is b ecom in g a subject o f considerable speculation in
different quarters.

A correspondent o f the L ondon M ining Journal, in a paper on the

41 Silver and G old M ines o f the N ew W o rld ,” thus speculates on the increased production
o f g o l d :—
A t present, to speak only o f g o l d : suppose the A m erican production to be represented
by 100, that o f Russia is 144. A s the washings o f A siatic Russia are extending inces­
santly, and as the field in which they take place seems infinite, we are still far distant
from the amount which will be obtained. W e must expect that shortly, through Russia,
the general production o f gold will approach the treble o f what appeared at the end o f the
last century on the market o f the world. T h is increase o f the extraction must, after a
certain delay, bring about a decline in price ; because, unless there be a rapid developm ent




330
of

Journal o f Banking , Currency , and Finance .

w e a lt h

g o ld w o u ld

am ong

the

so o n

ce a se

p o p u la t io n s

of

c o u n t r ie s ,

to b e fo u n d , a n d

the

of

m eans

th e o ffe r w o u ld

e m p lo y in g

th u s e xce ed

t h is

m a ss

th e d e m a n d .

of
In

o t h e r t e rm s , in s u p p o s in g th a t s ilv e r s h o u l d r e m a in a t th e s a m e p o in t w it h r e s p e c t to c o in ,
g o ld w o u ld n o t
ve r.

be w o rth m o re

t h a n f if t e e n , o r f o u r t e e n , o r t w e l v e l i m e s i t s w e i g h t i n s i l ­

T h e r e la t iv e v a lu e o f t h e t w o p r e c io u s m e t a ls , ( I d o n o t s p e a k o f t h e a b s o lu t e v a lu e ,

n o r o f th e v a lu e i n r e la t io n to t h a t o f o b j e c t s o f t h e f ir s t n e c e s s it y , ) w o u l d a p p r o a c h w h a t
it w a s a m o n g

a n c ie n t

n a t io n s , o r b e fo re t h e d is c o v e r y o f A m e r i c a .

In

a n o t h e r p o in t

of

v i e w , t h e d e c l i n e i n t h e v e n a l v a l u e o f g o l d c o u l d n o t s u s t a i n it s e lf , e x c e p t i n s o f a r a s t h e
c o s t o f th e

p r o d u c t io n s h o u ld

h a v e d im in is h e d — fo r o t h e r w is e th e p r o d u c t io n w o u ld s t o p ;

b u t w h e n w e t h i n k o n th e s u r p r is in g p r o g r e s s w h ic h th e m e c h a n ic a l a rt3 m a k e e v e r y d a y ,
w e c a n n o t d o u b t that

t h e s e l li n g p r ic e o f

p o s it s r e m a in th e s a m e .
le s s e n

th e

g o ld , e v e n

e x t r a c t io n .
t r ip le

g o ld w i ll u n d e r g o a r e d u c t io n , p r o v id e d th e d e ­

T h u s t h e d e c lin e , i f it s h o u l d
M o re o v e r, so m e

t im e m u s t

t a k e p la c e , w o u l d

needs

e la p s e

th a t o f th e c o m m e n c e m e n t o f th e c e n tu ry ,

n o t b e lik e ly to

b e fo re a p r o d u c t io n

of

w ill c a u se a n im p o rta n t re ­

d u c t io n i n t h e c u r r e n t p r ic e o f t h a t m e t a l.

T h e quantity o f gold which exists am on g civilized nations is so great, that an annual
addition o f 40,000 kilogram m es, beyond what was ordinarily disposed o f previously to
1823, w ould not rapidly augm ent the mass in a very sensible m anner, and would not
affect the value until after a certain delay. T h is is proved by the fact, that w hen, twentyfive years a go, England obtained a sum o f m ore than 1,000,000,000f., representing
300,000 kilogram m es o f pure gold, in order to coin gold m oney to replace bank-notes,
which alone had been in circulation since 1797, the price o f gold was not sensibly affected
in com m erce. A nd then civilization is in the vein for peace, w hich it m ay be believed
that the senseless verbiage o f retrograde passions will not induce it to abandon. B y peace,
easy circum stances and cultivation gain ground am ong the people— a little elegance and
luxury introduces itself am ong all ranks o f society. T h a t is sufficient to secure an easy
investment for a production o f gold m ore considerable than that o f the present day, w ith­
out its being necessary for the extractors to occupy themselves with the decline in the
value o f gold. B efore every person in E urope, male and fem ale, shall have a gold watch,
gold ring, or a gold cross, Siberia has sufficient m argin left it. A n d w hy, with the aid o f
peace, should we not com e to that?
N o r must we expect that gold will sustain a decline in value com parable to that which
m ay be foreseen with respect to silver, for a period still uncertain, unless som e n ew El
D orado shall be discovered, in w hich the conditions o f w orking shall be com pletely
changed. T h e extraction o f this m etal does not afford ground for the sam e extensive
improvem ents as the extraction o f silver, which is barbarous in A m e rica , the principal
centre o f production. In this point o f view , E ngland, w hose metallic specie is in gold ,
is not exposed to the same loss as F rance, whose real m oney is only in silver.

R EV E N U E O F G R E A T B R IT A IN .
AN ABSTRACT OF THE NETT PRODUCE OF THE REVENUE OF GREAT BRITAIN IN THE YEARS AND
QUARTERS ENDED THE 5TH OF JANUARY, 1 8 4 7 AND 1 8 4 8 , SHOWING THE INCREASE OR DE­
CREASE THEREOF.
r -Years ended January 5—
Decrease.
Increase.
1847.
1848.

Custom s........................................ .
E xcise............................................

M iscellaneous..............................
T ota l ordinary revenue........... .
Imprest and other m oneys.......
R e-paym ents o f advances......
T ota l in com e ......................... .

D ecrease on the year......




£ 2 9 5 .5 6 7
790,504

£ 1 8 ,3 1 0 ,8 6 5
12,521,250
6,9 3 1,41 4
4,2 7 2,40 8
5,395,391
8 1 6 ,00 0
120,000
317,900

£ 1 8 ,0 1 5 ,2 9 8
11,730,746
6,959,546
4,334,561
5,450,801
864,000
77,000
184,926

£ 2 8 ,1 3 2
62,153
55,410
48,000

£ 4 8 ,6 8 4 ,4 1 8
667 ,64 4
192,547
1,070,411

£ 4 7 ,6 1 6 ,8 7 8

£ 1 9 3 ,6 9 5

2 16,642
564,046

24,095

£ 5 0 ,6 1 5 ,0 2 0

£ 4 8 ,3 9 7 ,5 6 6

43,000
132,164
£ 1 ,2 6 1 ,2 3 5
667,644
506,365
£ 2 1 7 ,7 9 0

£ 2 ,4 3 5 ,2 4 4
217.790
£ 2 ,2 1 7 ,4 5 4

Railroad , Canal, cmd Steamboat Statistics,

331

RAILROAD, CANAL, AND STEAMBOAT STATISTICS.
U T IC A A N D S C H E N E C T A D Y R A IL R O A D .
T

h is

road was opened for travel in August, 1836.

U tica, and is 77| miles in length.

27,8 00 shares, the par value o f which are $ 1 0 0 .
m anaged railroads in the country.
of

February.

It extends from Schenectady

It cost $ 2 ,2 6 5 ,1 1 4 80.

to

T h e stock is divided into

It is one o f the most profitable and best

T h e dividends are m ade on the 1st o f A ugust and

1st

T h e stock is always above par from 20 to 30 per cent.

W e are enabled, through the politeness o f C olonel W . C.

Y

o u n g

,

the efficient super­

intendent, to present a com plete statement o f the m onthly receipts, from passengers and
other sources, from the opening o f the road in A ugust, 1836, to D ecem ber, 1847, a period
o f eleven years and five m onths:—
STATEMENT OF MONTHLY RECEIPTS FROM PASSENGERS, AND SPECIAL RECEIPTS IN EACH YEARM o n th s.

1836.

1817.

1818.

D ollars.

D ollars.

D ollars.

January.....................................
February........... * ..................
M a rch .......................................
A p ril.........................................
M a y ...........................................
June...........................................
J u ly ...........................................
A ugust.............. 4 1 ,7 4 4 14
Septem ber........
47,111 57
October.............. 40,6 64 13
N ovem ber........
27,497 61
D ecem b er........
11,033 63

6,255 92
7 ,184 59
10,589 66
30,478 56
35,132 50
29,2 58 78
29,6 94 72
35,125 85
37,470 3 6
36,545 37
28,392 05
12,137 61

9,698
7,123
10,620
25,195
29.761
30,325
33,842
37,609
44,7 82
41,830
30,480
11,248

1819.
18
98
72
17
97
20
14
55
71
29
12
05

D ollars.

9,848
10,634
13,573
33,870
40,748
33,930
41,1 85
48,2 85
50,554
46,301
32,372
14,004

13
12
05
67
27
60
94
47
87
43
44
08

1840.

1841.

D ollars.

D ollars.

9 ,202 89
9 ,8 1 1 2 6
16,333 65
30,7 87 14
36,546 00
34,005 10
37,022 13
42,119 68
46,4 92 73
40,778 47
27,019 86
13,087 67

9,821
9 ,953
13,741
32,5 20
35,780
35,461
41,8 08
48,880
49,710
45,222
29,3 54
14,794

81
79
74
52
59
54
45
75
51
30
69
06

T o t. from pass. 168,051 08 2 98 ,26 5 97 312,808 08 375,309 07 343,206 58 367 ,05 0 75
Special receipts
8,495 75 18,910 90 24,9 00 65 31,364 73 38,136 31 43,4 35 12
T o ta l............. 176,546 83 3 17,176 87 3 37 ,70 8 73 406,673 80 381 ,34 2 89 410,485 87
STATEMENT OF MONTHLY RECEIPTS FROM PASSENGERS, ETC.— CONTINUED.
M o n th s.

January.............
February...........
M arch...............
A p ril..................
M a y ...................
June...................
July....................
A ugust..............
Septem ber.......
October..............
N ovem ber........
D ecem b er........

1841

1841

1844.

184 S.

1846.

1847.

D ollars.

D ollars.

D ollars.

D ollars.

D ollars.

D ollars■

11,601
12,071
18,952
31,2 50
31,295
24,8 54
28,1 87
33,408
35,243
29,623
25,927
11,055

36
96
98
68
38
40
12
46
44
27
46
28

10,264 43
8,447 14
8 ,932 76
21,1 66 79
28,2 58 02
27,201 93
32,298 49
37,186 2 2
37,4 96 87
31,869 29
22,6 38 9 6
11,402 91

8 ,616 89
8,764 83
13,132 9 4
32,263 19
27,2 15 68
29,1 10 79
35,774 89
41,581 49
39,2 04 82
32,441 45
23,814 5 9
14,357 19

11,977 4 2
10,610 37
19,861 93
36,447 51
28,2 60 59
31,125 95
4 2 ,0 1 1 9 2
47,3 82 07
48,073 01
39,556 16
2 8 ,7 9 4 68
14,708 50

12,338 66
11,860 47
17,797 90
38,348 90
29,310 73
31,3 56 01
36.491 02
42,3 94 90
44,109 81
38,761 51
27,493 06
17,272 54

13,106
11,163
15,203
36,973
37,4 89
51,705
62,812
72.493
76,900
62,262
42,4 55
27,2 15

51
44
38
61
32
64
94
36
49
93
57
07

T o t. from pass. 293.471 79 277,163 81 306,278 75 358,810 11 347,535 51 5 09,782 2 6
Special receipts 39,913 13 71,133 97 78,112 84 83,319 05 80,860 47 188,932 60
T ota l............. 333,384 92 348,297 78 384,391 59 442,129 16 428,395 98 698,714 86
C A M D E N A N D A M B O Y R A IL R O A D C O M P A N Y .
W e are indebted to W i l l i a m H. G a t z m e r , Esq., the efficient agent o f this C om pany,
a n d other equally authentic sources, for reports, statistics, &.C., o f this corporation, f r o m
which we shall prepare a condensed view o f the r o a d for a series o f years f o r a f u t u r e
n u m b e r o f this Magazine.




332

Railroad , Canal, and Steamboat Statistics.
S T E A M B O A T T O N N A G E O F P IT T S B U R G H .

In the M erchants’ M agazine for D ecem ber, 1847, w e published, under our series o f
papers on the ‘ •'Commercial Cities anti T ow n s o f the United States,” an article relating
to “ Pittsburgh : its T rade and Manufactures.”

W e m ay here add, as a note to that arti­

cle, a few additional particulars touching the steamboat tonnage o f the port o f Pittsburgh,
derived from a com m unication o f Mr. T . J. B igham , in the Pittsburgh Gazette :—
A ccord in g to the statement before us, the whole num ber o f steamboats belonging to
the port o f Pittsburgh on the 1st o f January, 1848, was 109. T h e total tonnage on the
same day was 28,000 tons. T h e cost o f building and fitting out steamboats on the west­
ern rivers averages about $ 8 0 per t o n ; hence, the original cost o f the tonnage o f that
port would be $ 2,2 4 0 ,0 0 0 . T h e burthen o f the above steamers is put down at one-third
m ore than their adm easurem ent; and supposing that they always arrive and depart fully
laden, would amount to 993,240 to n s ; to which add, for flat and keel-boats, 20,7 30 , and
a total is presented o f 1,013,970 tons as the entire tonnage o f the O hio river, arriving and
departing from Pittsburgh in 1847. T h is amount, how ever, is exclusive o f 10,000,000
bushels o f coal from the M onongaheln, and about 75,000,000 feet o f lumber from the A l ­
leghany rivers, which descend the Ohio annually. T h e trade o f the M onongnhela river
is uninterrupted to Brownsville, being improved by locks and dams. T h e steam boat ar­
rivals (om itting the coal and lumber trade) during the past year were about 1 ,5 0 0 ; their
aggregate tonnage about 55,000 ton s; the through passengers 4 5 ,8 2 5 ; the way passen­
gers 39,777. T h e amount o f coal pas-ing through the locks was 9,645,127 bushels; and
an amount equal probably to one-third m ore, passed over the dams during high swells.
T h e trade has more than doubled within the last tw o years.
T h e tonnage o f the A lleghany river is estimated at 23,4 66 tons, and the quantity o f
lumber which descended is put dow n at 100,000,000 feet and 100,000,000 shingles ; about
one-fourth o f which were sold in Pittsburgh, and the residue carried dow n the O hio river.
T h e number o f canal boats on the Pennsylvania Canal, which cleared in 1847, was 4 ,046.
T h e article concludes, so far as our purpose is concerned, with the follow ing tabular
statem ent:—
T on n ag e, 1,013,970
55,000
«
23,477

Steam boat arrivals from the O h io ..................
“
“
Monongnhela..
“
“
A llegh a n y.........

3,178
1,500
118

T o t a l................................................................................
Flat and keel-boat arrivals............................................
Pennsylvania canal boats...............................................

4,796
2,392
4,046

“
“
“

1,092,436
118,410
150,000

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

1,134

“

1,360,846

T h is does not include the coal or lumber trude.

F IT C H B U R G H R A IL R O A D , M A S S A C H U S E T T S .
T h is road, which extends from Charlestown, (M ass.) near Boston, is fifty m iles in
length, and originally cost the com pany $ 2,1 1 6 ,1 0 0 .
21,161 shares, the par value o f which are $ 1 0 0 .

T h e capital stock is divided into

Dividends, heretofore m ade in February

and A ugust, are hereafter to be declared in January and July o f each year.
is used on this road, w eighing 56 lbs. to the yard.

T h e T rail

W e give a table o f places, distances,

fares, & c., as follow s :—
Places.

C harlestow n....................
C a m b rid g e ......................
W e st C am bridge...........
W alth a m ..........................
S tony B ro o k ...................
W eston .............................
L in co ln .............................
C on cord............................

Miles.

Fares.

3

$0

6

0
0
0
0
0
0

10
12

13
17

20

12
15
25
30
30
40
50

P la ces.

South A c t o n ...................
W est A cto n ....................
Littleton...........................
Groton...............................
Shirley...............................
Lunen burgh....................
Leom inster......................
F itchburgh......................

Miles.

Fares.
$ 0

65

27
31
35

0

65

0

80

0

90

40

1

00

42
46

1

10

1

15

50

1

25

R ates o f F reig h t — C oal, iron, manure, lum ber, corn, grain, sugar, salt, butter, groce




Railroad, Canal, cmd Steamboat Statistics.

333

ries, and dry good s, 4 cents per ton per mile ; light and bulky merchandise, 4 cents per
ton o f 150 cubic feet per mile.

One horse rated as 2 50 0 c w t .; two horses rated as one

ton e a c h ; over that number, special rates.

One-horse carriage rated as one-h alf t o n ;

two-horse carriage as one ton, at 4 cents per ton per mile.
T h e Annual Report o f the Directors o f the Fitchburgh Railroad, for 1847, exhibits the
affairs o f the com pany in a very advantageous light.

T h e success o f this road is ow in g ,

in a great measure, to the policy o f the directors in regard to fares, & c . ; numbering am ong
them , in the person o f E. H a s k e t D e r b y , E -q., a gentleman who has contributed, by his
efficient advocacy o f liberal and enlightened view s, m ore, perhaps, than any other indi­
vidual, to the success o f the admirable railroad system adopted in the N e w England States,
and more particularly in Massachusetts.
From the report, referred to already, we learn that the earnings o f the road and its
branches for eleven months, from February 1st, 1847, (the time o f declaring the dividends
being altered from February 1st and August 1st to January 1st and July 1st,) amounted
to $ 3 6 9 ,0 5 9 73, $ 1 5 5 ,b 9 4 2 4 o f which was derived from passengers carried over the
road in the eleven m onths; from freight, $ 1 9 7 ,5 4 1 5 9 ; and from rents, mails, & c.,
$ 1 5 ,6 2 3 90.

T h e total expenses for the same period amounted to $ 1 5 7 ,3 6 0 18, leaving,

as the nett earnings for eleven months, to January 1st, 1848, $ 2 1 1 ,6 9 9 55.

O f this sum,

$ 8 8 ,1 7 0 was divided on $ 1 ,7 6 3 ,4 0 in August, and $ 1 0 5 ,8 0 5 on $ 2 ,1 1 6 ,1 0 0 in January,
1848.

T h e follow ing table exhibits the tonnage over the road for the years 1846 and

1847, show ing the in crease:—

1846.

1847.

T o n s transported upward............................................................................
“
dow nw ard......................................................................

47,7 52
41,1 05

73,219
61,979

T ota l upward and dow nw ard................................................................

88,857

135,198

In the above statement ice and bricks are exjlu d ed , which amounted as follow s:—
Ice ............................................... * .....................................................tons
Bricks.........................................................................................................

73,000
39,3 08

77,505
31,772

T otal tons, including ice and brick..............................................

201,165

244 ,47 6

QUANTITY OF WOODEN WARE, PATER, AND WOOD, TRANSPORTED OVER THE ROAD DURING THE
YEA 1847.

Chairs................................................
P a ils ............................................ ...
Ream s o f paper............................
T u b s ...................................................
Clothes pins.....................................

425,702 W ash boards....
1,033,958 Barrels.................
166,752 K egs....................
220,993 Cords o f w ood ..
4,228,206 Candle boxes....

N um ber o f passengers carried in the cars the past year
“
“
one m ile.........................

101,459
88,573
164,295
9,174
174,177
494 ,03 5
8,009,437

From the large accession o f business the past year, the directors have been obliged to
increase the number o f e n g in es; also the passenger and freight cars ; and a greater in ­
crease w ill be required the com ing year.
T h e com pany, as w e leant front the report, have obtained from the Legislature o f M as­
sachusetts the passage o f an act authorizing them to extend the road into the city o f Bi ston ; and it is expected that the depot and bridges w ill be ready for the passenger trains
to enter the city by the 1st o f M a y , 1848.
D uring the year 1847, a branch railroad, extending from the Fitchburgh R ailroad, in
G roton, to W e st T ow n sen d, a distance o f tw elve and a quarter m iles, has been co m ­
m enced and finished by the P eteiboro’ and Shirley Railroad C om pany, which will con ti­
nue to the Fitchburgh road a business that m ight otherwise have been diverted, and also
give to it a portion o f other business, which properly belongs to that line.




334

Railroad, Canal, and Steamboat Statistics.

T h e year’s lease o f the Lexington and W e st Cambridge R ailroad to this com pany ex*
pired the 1st o f September, 1847, since which a new contract has been agreed upon by
the directors o f both com panies, for operating that road for ten years.

R A IL R O A D B A G G A G E CHECKS.
T h e follow ing is the law passed by the legislature o f N e w Y o r k in M a y, 1847, with
regard to furnishing checks for baggage carried on the railroads in that State.

T h e reg-

illations under this law , if strictly com plied with, afford m uch con venience and protection
to passengers, as w ell as security to the road, against w ron g delivery o f baggage.

And

it seems alike the interest o f railroad com panies and the travelling public, to see that so
beneficial a law does not rem ain, as it is in som e cases, “ m ore honored in the breach
than the observance.”
“ It shall be the duty o f every railroad com pany hereafter to furnish and attach ch eck s to
each separate parcel o f baggage, which they by their agent or officers receive from any
person for transportation as ordinary or extraordinary baggage, in their baggage car, a c­
com panying their passenger trains, and they shall also furnish to such person duplicate
ch eck or checks, having upon it or them a corresponding number to that attached to each
parcel o f b a g g a g e; said checks and duplicates shall be made o f som e m etallic substance,
o f convenient size and form, plainly stamped with numbers, and each check furnished with
a convenient strap or other appendage for attaching to baggage, and accom panying it a
duplicate to be delivered to the person delivering or ow n in g such b a g g a g e ; and w henever
the ow ner o f said baggage, or other person, shall, at the place the cars usually stop to
w h ich said baggage was to be transported, or at any other regular stopping-place, present
their duplicate ch eck or checks to the officer or agent o f the railroad, or o f any railroad
over any portion o f which said baggage was transported, they shall deliver it up to the
person so offering the duplicate, ch eck, or checks, without unnecessary delay. A n d the
n eglect or refusal, on the part o f any railroad com pany, its agents or officers, to furnish and
attach to any person’s ordinary or extraordinary travelling baggage, i f conveyed by their
passenger train, suitable check or checks, and to furnish to such persons proper duplicate
or duplicates, shall forfeit and p a y to such person and ow ner, for such refusal and neglect,
the sum o f ten dollars, to be recovered in action for debt.” •

D IV ID E N D S O F M A S S A C H U S E T T S R A I L R O A D S .
T h e dividends, semi-annual, recently declared, amount to a m illion dollars, as fo llo w s:—
R a il r o a d s .

Dividends.

R a il r o a d s .

Dividends.

W orcester........................................
W e ste rn ..........................................
M a in e...............................................
Fitchburgh......................................
Eastern............................................
L o w e ll.............................................

$ 1 7 5 , QUO
160,000
119,000
106,500
100,000
72,000

Providence.........................................
O ld C olon y.......................................
Portland and Portsmouth.............
Fall R iver..........................................
C onnecticut R iver...........................
Taunton Branch and N . Bedford

$ 8 8 ,2 0 0
42,000
36,0 00
30,000
34.000
26,0 00

C O A L O V E R T H E R E A D IN G R A IL R O A D .
T h e follow in g official statement o f the number o f tons o f coal transported annually,
from the com m encem ent o f the road in 1841, to the 1st o f January, 1848, is derived from
the “ C om m ercial L i s t —

1841.
8 5 0 .0 0

1842.

1841.

1844.

4 9 ,9 0 2 .0 0 2 3 0 ,2 5 4 .1 9 4 4 1 ,4 9 2 .1 0

1845.

1846.
8 2 2 ,4 8 1 .0 4

1847.
1 ,2 3 3 ,1 4 1 .1 0

N I A G A R A F A L L S S U S P E N S IO N B R ID G E .
T h e suspension bridge com panies have decided on the construction o f the bridge fo r
the passage o f railroad trains. T h e strength o f the supporting cables is to be not less than
65,0 00 tons. T h e cost is not to exceed $ 1 9 0 ,0 0 0 ; and tile w ork to be com pleted by the
1st o f M a y, 1849. Charles Ellet, Jr., Esq., o f Philadelphia, has been appointed the ent
gineer. T h e bridge will be in sight both o f the cataract and the w hirlpool, and span the
gorge by an arch o f 800 f e e t ; suspended 230 feet above the surface o f the N iagara river.

>




1 ,3 5

335

Mercantile Miscellanies.

MERCANTILE

MISCELLANIES.

C O N F ID E N C E A N D C R E D IT .
[FROM THE MANCHESTER (ENGLAND) GUARDIAN.]

The day was dark, the markets dull,
The ’Change was thin, gazettes were full,
And half the town was breaking;
The countersign o f cash was “ Stop,”
Bankers and bankrupts shut up sh op;
And honest hearts were aching.

That honest Industry had tried,
T o gain fair Credit for his bride,
And found the lady willing.
But ah ! a fortune-hunter came,
And Speculation was his name;
A rake not worth a shilling.

W hen near the ’Change my fancy spied
A faded form, with lmsty stride,
Beneath grief’ s burthen stooping;
Her name was Credit, and she said
Her father, Trade, was lately dead,
Her mother, Commerce, drooping.

The villain was on mischief bent,
He gained both dad and mam’ s consent;
And then poor Credit smarted.
He filched her fortune and her fame,
He fixed a blot upon her name,
And left her broken-hearted.

T h e smile that she was wont to wear
W as withered by the hand o f care.
Her eyes had lost their lustre;
Her character was gone, she said,
For basely she had been betrayed;
And nobody would trust her.

W hile thus poor Credit seemed to sigh,
Her cousin, Confidence, came by,
(Methinks he must be clever;)
For when he whispered in her ear,
She check’ d the sigh, she dried the tear,
And smiled as sweet as ever.

M E T H O D I N B U S IN E S S .
To

t h e

E

d it o r

o f

t h e

M

e r c h a n t s

’ M

a g a z in e

;—

Success in business is usually the result o f intelligent and w ell-directed efforts.
M a n y o f the failures in mercantile life, as w ell as in other pursuits, arise from a want
o f proper know ledge o f the principles upon which success is based.
T h e uncertainty o f m ercantile business has becom e a p rov erb ; and from estimates
m ade, and publicly proclaim ed on various occasions, the proportion o f those engaged in
that em ploym ent, w ho are eventually successful, has been extrem ely small.
But is this a necessary result?

T h e writer thinks not.

M en w h o have been success­

ful, and w h o have been successful as a consequence o f their practical know ledge and their
prudent m anagem ent, k n ow to the contrary.
thus?

A n d yet failure follow s failure.

N eed w e continue in the dark upon this subject?

W h y is it

A re there not m inds, engaged

in the pursuit o f business, com petent to enlighten us, and whose feelings w ould prompt
them to the task i f their attention was suitably turned to it ?
It is a subject o f grave im portance, and the rem edy, as far as possible, should be pro­
vided ; as, for want o f it, the integrity o f worthy m en is constantly placed in jeopardy,
and w hen laid waste, destruction o f character and happiness is the usual consequence.
T h is frequently occurs with persons w ho desire to do right, but, for want o f a proper
know ledge o f the land-marks , get into a false position, and thereby involve themselves
and others without intending it.
T h e young and inexperienced, w h o are pressing forw ard confident o f success, and yet
without that know ledge that would insure i t ; and successful m en, w ho stand in the posi­
tion o f creditors, are alike interested ;— indeed, the whole com m unity has a deep and an
abiding interest in all measures that will prom ote good morals, and lead to happy and suc­
cessful results.
A portion o f the evil arises from defective business training— partly from the indolence
or inattention o f the learner, and partly from the incom petency o r disinclination o f the




336
instructor.

Mercantile Miscellanies,
T h e obligations mutually existing betw een master and apprentice are there­

fore not faithfully discharged, and loss is sustained by both parties.
T h e m ore strictly m ethodical a business is conducted, provided it insures correctness
and proper despatch, the nearer it will approach success, and the m ore those engaged in it
will becom e fond o f its d etails; and, as a consequence, the m ore w illingly they will devote
them selves to those duties which they feel at the same time prom otes their pleasure and
advances their interests.
W h y m ay not the profession o f the m erchant be reduced to a scien ce?
T h ere are principles, that lie at its foundation, which are ns true as those applicable to
any other pursuit; and it needs but their developm ent and arrangement, to enable those
engaged in its duties to be equally successful.
T h e attention o f intelligent and philanthropic merchants is in this manner invited to the
subject, in the hope that som e one, com petent to the task, will accom plish it, and thereby
confer a lasting benefit upon an extensive and valuable class in s o c ie ty ; so that, while
you n g m en are acquiring a know ledge o f their business practically, they m ay also study
its principles, and thus becom e fitted not only to secure advantages to themselves, but use­
ful in training others, and eventually be ornaments to their profession.
In the m ean time let each one interested in the subject, whether m erchant, m echanic,
manufacturer, provide a b ook, and accustom him self to noting every important fa c t ,
precept , principle, or illustration , having a bearing upon his particular occupation, classi­
or

fied under suitable heads.

B y adopting this course, it will in time be found that he has

not only im proved his ow n m ind and his ow n habits, and collected a mass o f information
important to him self and to those in his em p loy, but that he has provided a valuable legacy
fo r

his children, or for those w ho m ay succeed him in his line o f business.

M

iq u o n

.

S U G A R vs. C O T T O N IN T H E S O U T H .

Mouth o f Red River , December %5th, 1847.
Esq.— Dear S ir : T h e present low price o f cotton w ill, I think, induce
a great many planters «»f the proper latitude to turn their attention to the cultivation o f the
sugar-cane, which offers m any advantages over cotton. It is satisfactorily ascertained that
sugar, at 3 cents per lb., pays a better profit than cotton, at 6 cents. A llo w in g the average
price o f sugar to be 5 cents, it will therefore be m ore profitable than cotton, at 10 cents.
T h ere is much less labor in the cultivation o f the form er than the latter; and the planter
adds so much gain to the health and vigor o f his negro population. T h e production o f
cotton is a very laborious task, and keeps the slaves constantly engaged the whole year.
T h e planting begins soon after Christmas, and the raking, weeding, & c ., is kept up until
the ripening o f the pods, in A ugust. T h en com es picking, cleaning, ginning, baling, & c.,
which continues again until Christmas. T h e yield o f the cotton is, m oreover, very small.
O ne acre o f good cotton land yields but one hale o f cotton, equal to 400 lb s .; but these
400 lbs. are the product o f 1,600 lbs., the seed am ounting to three times the weight o f the
cotton— m aking 1,200 lbs. waste, which is cleaned by m uch labor from the cotton. It is
quite different with sugar— 100 lbs. o f seed will produce five acres o f cane, which is tri­
annual, so that the planter has his cane-field for three years, without any extra labor o f
s o w in g ; and each acre o f sugar-cane he can faiil.v calculate to yield 2 hhds., or at least
2,000 lb s.; the principal labor being the washing o f the cane, and not h alf the time o f the
negroes is required in the field. N o w , a planter who cultivates 500 acres o f cotton, will
realize but $ 1 2 .0 0 0 ; while the sugar-planter will realize $ 3 0 ,0 0 0 from the same amount
o f land, with easy labor, calculating cotton at 6 cents, and sugar at 3 cents. I have seen
beautiful sugar, m ade by L ipire, in appearance nearly equal to the white Havana, but o f
a m uch sweeter taste, selling in Vicksburgh for 7 cents, which must have been prepared
with m uch care by the planter, by extracting the mucilage and colo iin g matter from the
cane-juice by steant, or ivory-black, and which must certainly yield a very great incom e,
and h iv e a decided preference over c o t t o n ; for one acre o f such cane, producing 2,000
lbs., would nett $ 1 4 0 — whereas an acre o f cotton produces but $ 2 4 . I have conversed
with m any planters on this subject, and they think m y suggestions correct.
I will here give you a condensed account o f the modus operandi o f the raising and m aF

r e e m a n

H

u n t




,

337

M ercantile M iscellanies.

iiufacturing o f sugar, in order to prove that it is much easier to raise sugar than co tto n :—
T h e {darning is performed about the end o f February, by laying the cane lengthwise. T h e
sprouts are ploughed in March, M ay, and June. T h e cutting o f the cane for seed is c o m ­
m enced in October, and for grinding in N ovem ber. It is In-ought into a sh<*d, where the
cane-carrier is situated, which leads to tw o iron rollers, driven by steam. T h e juice runs
from thence into a l arge reservoir, or l arge boxes. T h e cane, after being hard pressed,
(called the b e g a s s e , ) falls from the ro'lers into a large chim ney, and is burnt to ashes.
T h e juice, now called l a p r o b e , is put into the first kettle, holding from thirty to forty
gallons, and boiled, with the ad iiti »n o f a small piece o f lime, in order to neutralize any
excess o f acid. W hen sufficienily concentrated, it is brought into the second kettle, call­
ed the f l a m b e a u , and added to ;a previous quantity o f juice, where it is likew ise boiled
d ow n lor a short time, and from thence into the third kettle, and is called the s y r u p . T h is
is the material containing both molasses and sugar. Tt is then finished in the fourth ket­
tle, called the l a t t e r y ,* and from thence thrown into coolers, where it remains for five or
six hours. T h e sugar is now altogether crystallized, and separated from the m olasses,and
put into boxes, and carried to the p u r g e r y , a large building, in which the hogsheads are
placed on pedestals, and the in ’lasses allowed to run and drip through the sugar and hogs­
heads on the ground, which is perfectly clean and sm ooth, and is then put likewise in
hogsheads and barrels. From 1,800 to 2 .0 0 0 lbs. o f sug »r are made per day in those four
kettles. Eighty slaves have made, this year, on one plantation, near Baton R ouge, 475
h h d s, or about 6 hhds. to the hand— (while one hand can only make 8 bales o f cotton)—
and have cultivated, besides, 140 acres o f corn , (60 bushels to the acre,) and 125 acres o f
beans.
Y ou rs, truly,
L e w is F e u c h t w a n g e r .

M E R C A N T I L E L I B R A R Y A S S O C I A T I O N O F C H A R L E S T O N , S. C.
T h e last Annual Report o f the Board o f Directors o f this valuable institution has been
published in the Charleston papers, and we are indebted, w e presume, to its worthy presi­
dent, A . O.

A

n d r e w s

,

Esq., for a copy.

W e regret to find that its friends have any rea­

son to com plain that the roll o f members, when the present Board assumed the responsi­
bility, was “ discouragingly small, to the number alike o f active and successful merchants,
w h o ought to be interested in its welfare, and o f those whose advancem ent it was mainly
designed to aid.”

T h e first effort, how ever, o f the Board was directed to the rem edy o f

the evil, and we rejoice that they were in a measure successful.

T h e result o f their efforts

in that direction gave the institution an increase to its list o f one hundred and thirty-one
members.

T h e Board also urge the im portance o f a suitable building, “ perm anently and

eligibly situated, wherein might be deposited our small, bur increasing and really valuable
library, to be our

ou m

—a

h o m e

for the A ssociation.”

A lthough success has not yet crow n ­

ed this laudable desire, w e cannot believe that the proverbially liberal-minded and in­
telligent merchants o f Charleston will long permit this want to remain unsupplied.

A

single passage from the R eport, w hich, by the way* is a brief and business-like paper,
w ill serve to show the spirit and intelligence o f the B oa rd :—
“ W ou ld that the munificence o f som e o f our affluent, patriotic, public-spirited fellow citizens m ight be attracted to this institution! T h e thinking minds o f our country are
daily becom ing awake t » the necessity o f som e m odification in the present system o f edu­
cation for our you ng men. In the operation o f tariffs, and measures o f finance, in the
intricate and delicate questions o f currency, and in the com m ercial revulsions which from
tim e to time so deeply affect the fortunes o f all, they have been made to feel the necessity
o f som e other preparation for their sons than what is a ff »rded, how ever valm ble and de­
sirable, so far as it goes, by our usual s c h o l a s t i c education. Evidences o f this are seen in
the suggestions from several quarters recently, to establish com m ercial professorships in
our colleges and universities. These are encouraging indications, and w e trust to see
them successfully carried out. But we w ould with due deference affirm, t h a t t h e t r u e
s e a ts in w h ic h to e s ta b lis h s u c h c h a ir s a r e in s titu tio n s s im ila r to o u r o w n .
It is here
that such an auxiliary would prove most efficient, becau=e the recipients o f its le>son8
would have daily opportunities of, and an immediate personal interest, im pelling concern
in testing and applying them. L et a properly endowed com m ercial lpcfure-hip he esta* The

syru p

d e b a tte r y

v o l . x v i i i .— n o .




in .

tastes delightful; and is sold, when fiesh, for family use.
22

838

M ercantile M iscellanies.

Wished here, and its beneficial results w ou ld soon be manifest. It could not fail, ju d i­
ciously regulated, to prove itself a m ost efficient aid to the youthful noviciate in com m erce,
w h o had determ ined to m ake com m erce what every you ng m an w h o engages in it ought
to d o, a pursuit o f honorable ambition, a profession o f which he intends to be master.
T h eory and practice would then m ove hand in h a n d ; and so accom panied, the operations
o f the mart, and the projections o f the counting-room , would furnish to the you ng candi­
date for com m ercial distinction, what the clinical lecture does to the student o f m e d ic in e :
experim ental illustrations and practical tests o f the principles upon which he is taught to
act. T h e temptation here to enlarge is strong, but w e forbear, satisfied i f w e can attract
to this subject the attention o f those w h o desire to advance our city’s com m ercial fortunes,
and pass to other matters.”
W e are duly sensible o f the honor the Board has conferred b y electing us an honorary
member o f their institution, in consideration o f our humble efforts in “ originating the
Merchants’ M agazine, the first successful attempt o f its kind in the United States,” w hich,
it is pleased to add, has “ been sustained and conducted by marked a b i l i t y a n d w e trust
that our endeavors to deserve so high a distinction m ay not be relaxed.

A similar c o m ­

pliment is paid to J. D. B. De Bow, o f the N e w Orleans C om m ercial R eview .

M E R C A N T IL E L IB R A R Y A S S O C IA T IO N O F C IN C IN N A T I.
W e have received a cop y o f the Thirteenth Annual R eport o f the Board o f Directors
o f this A ssociation.

A lthough som ew hat m ore elaborate than the reports o f several sim i­

lar institutions, w e cannot discover that it is unnecessarily so, as the space it occupies is
well filled with facts and details o f its past and present condition, w hich speak an encour­
aging language as to its prosperity.

It appears from this docum ent, that the number o f

paying members to the first o f January, 1847, was 594 active, 170 honorary, 69 life— in
all, 8 33 regular m em bers; and that there have been elected during the year, 218 active,
96 honorary, 4 life— in all, 318 paying m embers.

Deducting the nam es o f those w ho

have resigned, left the city, and deceased in the same period, the institution now numbers
1,109 regular m embers, thus show ing an increase o f members exceed in g that o f any pre­
vious year ; “ a cheering indication o f the continued prosperity o f the A ssociation, and
strong evidence in favor o f the liberal expenditure in the addition o f numerous dom estic
and foreign files o f newspapers and m agazines to the reading-room department.”

It ap­

pears from the Treasurer’s R ep ort, that the receipts from all sources during the year
amounted to $ 3 ,9 8 6 98, and the expenditures for all purposes to $ 3 ,9 0 6 7 8 ; leaving a
balance in the treasury o f $ 8 0 2 0 , against which there are no outstanding liabilities what­
ever.

T h e additions to the library catalogue during the past year have been large— by

purchase, 1,008 volu m es; and by donation, 2 46 volumes.
6,106 volumes.

T h e library n ow consists o f

T h e average circulation each w eek is over 200 vo lu m e s; m onthly, 850 ;

or a grand total o f about 10,000 per annum.

T h e follow ing gentlem en com pose the pre­

sent (1 84 8 ) Board o f Directors :—
John W . H artw ell, President; G eorge T . Stedm an, Vice-President; Jam es Lupton,
Corresponding Secretary ; Joseph C. Butler, Recording Secretary; E. B . H inm an, Trea­
surer; H orace H unt, G eorge W . M cA lp in , D. M . C orw ine, Robert L . Fabian, George
S. D od d , Directors.
T H E B R A Z IL IA N SLA V E T R A D E .
Brazil appears to be the great slave-m art o f the world. T h e importations from A frica
are said to amount annually to betw een forty and sixty thousand souls, devoted to perpet­
ual slavery under the very eye o f that professed Christian governm ent! T h is statement
respecting the Brazilian slave traffic is proved, says a correspondent o f the Baltimore Sun,
by docum ents o f the British consuls in the various seaports o f that vast em pire, copies o f
which are probably furnished our ow n governm ent. T h ere is no doubt that vessels des­
tined for the slave trade are built in the U nited States, and afterwards transferred to B ra­
zilians, to be re-transferred to our ow n citizens when deem ed necessary for their safety.




M ercantile M iscellanies,

339

C O M M E R C E O F B E L G IU M I N 1846.
W e published, in the Merchants’ M agazine o f August, 1847, (V ol. xvii., N o . 2 , p. 174,)
a brief article touching the com m erce o f B elgium , em bracing tabular statements o f the
principal articles exported, imported, and returned for consumption, for the years 1844,
1845, and 1 8 4 6 ;* and on page 520 o f the same volum e, a table o f the imports o f grain,
sugar, tobacco, cotton, w ool, flax, & c.

A correspondent o f the “ London Economist ”

furnishes us with an extract, from the official returns, upon the external com m erce o f Bel­
gium during the year 1846, which the Minister o f Finance has just published, as fo llo w s :—
T h e general progress o f com m erce, importations and exportations, has diminished, in
1846, at the rate o f 6 per cent relatively with 1845 ; but it is greater, by 16 per cent, than
that o f the average preceding five years o f 1841 to 1845. A ccord in g to the new esti­
mates, (the official prices, which serve as a basis for the valuations, were altered by a royal
decree o f the 10th O ctober last,) the com m ercial progress o f 1846 is 585,000,000 6-10ths.
It w ould be 634,000,000 according to the valuations o f 1833, m aking a difference o f 8 per
cent. T h e goods arrived in the country, (those for home consum ption in direct transit,
and those warehoused,) though lowered by 8 per cent relative to 1845, are greater by 11
per cent on an average o f the five preceding years. T h ey amounted to 328,000,000, a c ­
cordin g to the new valuations, and 3 34 ,000,000 on the old, showing a difference o f 2 per
cent. On exportation, the general trade (B elgian and foreign goods together) has been
3 per cent beneath 1845, but it is 22 per cent above the average five years. Its value is
2 57 .00 0 . 000 6-lOths, represented by 299,00 0 ,0 0 0 8-10ths, according to the old rates, the
difference being 14 per cent. F oreign produce, which Belgium has imported for hom e
consum ption, and that derived from its soil and its industry, which it has exported, has
been nearly 3 per cent o f that o f 1845— the five yearly averages are larger only by 6 per
cent. T h e estimate is 366,000,000 2-10ths by the variable value, and 401,000,000 5-10ths
by the permanent one, the difference o f these being 9 per cent. Foreign goods for hom e
consumption have decreased 6 per cent upon 1845— they only exceed , by 1 per cent, the
quinquennial average. It amounts to 217,000,000 4 -l0 th s according to the new valua­
tions, and 217,000,000 6-10ths according to the old. T h e exportation o f articles o f na­
tional produce has been maintained. T h e amount has equalled that o f 1845, and it e x­
ceeds, by 13 per cent, that o f the average five years. T h e value is 148,000,000 8-lOths.
T h e old rates would have advanced it to 183,000,000 9-10ths, leaving a difference o f 19
per cent.
T h e follow ing are the other interesting points which this publication treats o f :—
I f the imports and exports together for the years 1845 and 1846 be com pared, it w ill
be perceived that the w hole maritime com m erce has decreased 17 per cent by the national
flag, and 7 per cent lor the foreign. I f the exportations be considered separately, it would
be found, on the contrary, that there w ould be an increase o f 21 per cent for Belgian bot­
toms, and 18 per cent for foreign. T h e trade by land has increased 9 per cent on im por­
tations, and has fallen 8 per cent on exportations. T h e countries with which the inter­
change has m ost prevailed, are France, Holland, England, the Zollvercin, Russia, and the
United States. T h e proportion o f each o f them is as follow s:— France appears for 21*7
per cent, or 4 7,000,000 2-10ths. T h e comparison with 1845 show3 a decrease o f 3 per
cent. In the exportation trade it gives 69,000,000 3-10ths, or 4 6 ’6 per cent, leaving a
diminution on 1845 o f 2 per cent. T h e value o f goods imported from H olland is
33.000. 000 9 -10 th s; that o f Belgian produce exported to Holland is 2 2,000,000 1 -la ,
m aking for the former a diminution o f 4 per cent, and for the latter o f 9 per cent, co m ­
paratively with 1845. E ngland presents 12 5 per cent on importation, and 9 per cent o n
exportation. T h e value o f goods which Belgium has received from that country has been
2 7.0 00 . 000 l-1 0 th , o f w hich 10,000,000 consist o f raw material, 11,000,000 4-10th3 co ­
lonial produce, and 5,000,000 7-10ths manufactured articles; and o f goods exported from
Belgium to E ngland was 13,000,000 4-10ths, w hich is divided into 8,000,000 2-10ths raw
material, 1,000,000 3-lO ths provisions and other produce, and 3,000,000 9-10ths manu­
factured articles. T h ere appears a decrease in the imports from England, which is 2 0 per
cent under the average o f from 1841 to 1845, and o f 16 per cent under that o f 1845.
T h e exportation, on the other hand, has experienced an increase o f 2 and 35 per cent
comparatively with 1845, and the quinquennial average. The balance between the im ­
ports and exports is only 13,000,000 7-10ths for the year 1846. From the Zollverein,
Belgium has imported 12,000,000 2-lO ths raw material, 8,000,000 1 - 10th provisions and
* F or Statistics o f the C om m erce and Manufactures o f Belgium , & c., see Merchants’
M agazine, vol. v., p. 4 8 2 ; vol. vi., p. 409 ; vol. viii., pp. 369 and 373, & c.




340

M ercantile M iscellanies.

colonial produce, and 5,000,000 9-lO ths o f manufactured articles; m aking a total o f
26.0 00 . 000 2-10lhs, or 5 p e rce n t less than 1845, and 7 p e rce n t more than the quinquenni.il average. It has received fr m Belgium 11,000,000 8-IOtlis law material,
1.000.
000 1-10th provisions, & c., and 10,000,000 6-10ths manufactured articles, nu king
a tv>tal o f 2 3,000,000 5 - lOths, which gives an increase o f 10 and 23 per cent com pared
with 1845, and the five year average. A s far as regards the other countries, the com pa­
rison o f the value imported shows an increase in the imports from the United States, which
com e in the general importations, for 6*1 per c e n t ; from Cuba, o f which the prep »rtion is
3 9 per c e n t ; and from Sardinia, which only show s 1*4 per cent. T here are diminutions
in the importations from Ru-sia, Denm ark, and the Brazils. T h e fiist o f these Stales
gives 10 2 per cent, the second 3 6 per cent, and the third 2 2 per cent, on importations.
T h e Belgian exportations have increased in the United States, Austria, the brazils, and
Sw eden. These countries form hut a trifling portion o f the Belgian export trade, v iz :
the United States, 2 2 p e r c e n t ; Austria, 1-4 per ce n t; Brazils, 1*1 p e r c e n t ; and N or­
w ay, 0*7 per cent.

C O N D I T I O N S O F S U C C E S S IN B U S IN E S S .
T h e “ M ercantile T im es” discourses after this manner on the conditions o f success in
business:—
T h e astronomer w h o would accurately trace the wonde-s o f the firmament, must take
his views from on observatory that is not liable to be shaken. H is stand should be im ­
m ovable. N o outward passing influence should jar it, or cause the least vibration or
tremor. T h e slightest motion o f his observatory will produce errors o f imm ense m agni­
tude. T h e object at which he is gazing may be thrown uut o f its true position millions o f
m iles by a hair-breadth error at the point o f observation. A ll this is easily and generally
understood, as it relates to astronomical observations.
But it is not always considered that an analogous rule applies to every kind o f obser­
vation and k n ow le d g e; and that in no case can we accurately judge o f things, unless w e
view them from the right stand-point, as the Germans phrase it. Before we pronounce
confidently in reference to any event yet future, we must he quite sure that our observa­
tory is firm, solid, standing on a rock— that it is shaken by no wind o f selfish interest, or
gust o f blinJed passion— that it is surrounded by no mi«t o f prejudice, or error— in short,
that it is the true point from which to see things as they are, in their real place and just
proportions.
H ow often is the fhercantile w o vld thrown into confusion and chaos, by disregarding
this simple, com m on-sense principle ! M ercantile success, we all kn ow , depends very
much upon a sagacious calculation o f the probabilities o f the future. T h e you ng m er­
chant looks to the future for that com petence which is the object o f his labors; and his
hope is realized in proportion as he is skilful in anticipating the phases and wants of that
future. T h e sagacious merchant infers from certain appearances o f the present, that such
and such will be the condition and wants o f the com ing seas *n, and he p repares him self
to meet that condition and those wants, and prosperity is the reward o f his foresight and
care. H e judges, from information which he has carefully collected, and from appear­
ances which he has watchfully noted, that a certain crop will be short, or a particular de­
scription o f goods sca rce; he estimates the demand, and the prices which a short supply
will occasion ; he takes care, in good season, to obtain the control o f as much o f the article
to be supplied as he can di=pose o f ; and, this done, he can coolly count his gains weeks
or months before they are realized, with as much confidence as if they were already in
hifl hands.
T h e tw o principal conditions o f success in m eicantile calculations appear to he a sound
and well-inform ed judgm ent, and a regulated and reasonable desire o f gain. T h e in o:d inute, grasping anxiety o f wealth, w hich characterizes many men, is, in a large proportion
o f cases, a passion fatal to their succes-s. It blinds the judgm ent, and misleads it into vi­
sionary schemes and ruinous speculations; and an ample experience show’s that men o f
the coolest, most deliberate habits, when they have once welded to the passi m for w ealth,
are no longer capable o f reasoning wisely. O f the other qualification— nam ely, correct
information, as a condition o f mercantile success, it seems hardly necessary to speak.
* K now ledge is p ow er,” says the great master o f English philosophy. N o t less in mer­
cantile life than elsewhere is this maxim true. T he language o f every merchant should
ae, “ give us light,” increase and multiply the means i f information. W h a t is capital,
energy, enterprise, sagacity, without accurate know ledge, extensive inform ation?
An




Mercantile Miscellanies.

341

ignorant merchant m ay happen to succeed, even in this day, but every one must see that
it is a most improbable peradventure.
A single fact is worth a folio o f argument, and w e have one just to the point—it is this i
that one o f the leading causes o f the late financial crisis and panic in England, was the
want o f true information lespe'cting the amount o f flour and grain which this country
could supply. A number o f the English corn merchants proceeded on the belief that our
surplus was exhausted, when such was not the fact. T h e y made their contracts upon that
false assumption, and were ruined.
There is no one subject in which the whole mercantile community have deeper interest
than that o f the vast m odem increase o f the facilities for diffusing and obtaining full and
correct information on everything pertaining to trade,so that all can enjoy its advantages;
and no man need hope to com pete successfully with his neighbor, who shuts him self out
from a participation in these facilities. T h e time has com e when it is no longer in the
pow er o f the few to m onopolize ; and every day tends more and more to equalize the co n ­
dition and advantages o f business men, and to throw wide open to all, the door to wealth,
respectability, influence, and honor. N or is there any necessity for the frequent failures
in the mercantile life, w h:ch have distinguished the past. T h e young merchant who
com m ences on the broad and sound moral bisis o f integrity, and nice mercantile honor,
and w ho conduct* his business with intelligence and judgm ent, and without undue eager­
ness and haste to be rich, will generally meet with success, as he will certainly deserve
it. It is true this is a day o f ardent com pe'ition ; but it is not less true, that it is a day
when manly, honorable enterprise buckles on its armor under auspices the most cheering,
and hopes the most encouraging.

LONDON M ER CH A N TS, A N D TH E R O Y A L EXCH AN G E.
T h e follow ing passages are from a letter dated at L ondon , and originally published in
the National Intelligencer:—
It is difficult to imagine a m ore interesting spot on the earth’ s surface than the London
R oyal E xchange. W hat has originated within its bounds, narrow as they are, has had
greater effect upon the concerns o f humanity than the battle o f W aterloo produced, or the
C ongress o f Vienna decreed. T h e com m erce which has been carried by the winds o f
heaven across every ocean to every shore, at the bidding o f the merchants w ho daily
throng the area and its piazzas, has done more to civilize mankind, extend know ledge, and
prom ote happiness, than all the councils o f the church, all the labors o f missionaries, and
till the exertions o f philanthropists. T h e assertion is not m ade irreverently, or without a
proper sense o f what is due t > the zeal, or what has been accom p fsh ed by the labors o f
the pious and good. But it is the wings o r com m ercial enterprise that bears the missionary
to his distant and dangerous sphere o f action, carries “ the schoolmaster abroad,” and
facilitates the dissemination o f religious truth, physical know ledge, and moral and political
improvement. Surely, then, the place where the energetic and enlightened promoters o f
this com m erce h ive principally assembled, where their plans have been matured, and from
where their peaceful edicts have been issued, is an interesting one to the enlightened lover
o f his species, to the patriot who contemplates wjih pride the character o f his countrymen,
the B itish merchant, and to the citizen o f the world who rejoices in the advancem ent o f
Jiis fellow man in know ledge, virtue, and happiness. From the days o f the royal mer­
chant, Sir Thom as Gresham, and the reign o f Elizabeth, to the days o f the Barings and the
Rothschilds, and the reign o f V ictoria— a period o f nearly three hundred years— h is the
small paved area o f the Royal Exchange been the resort o f the merchants o f England,
and the place where the merchants o f every other country in ihe world having co m ­
m ercial relations with England— and what country has n o t? — “ most do congregate.”
T hat man is not to be envied who can pay his first visit to such a p’a c j, so full o f tim ehonored recollections, without feeling that his foot treads no com m on ground ; and that
the wealth o f nations and the well-being o f his fellow men have been controlled and
influenced by the deliberations o f those whose feet have trod that ground during the three
last preceding centuries. Suppose it possible that the R oyal E xchange, with all its con­
gregated inmates, and all their concerns, should, on any given day, be blotted out o f e x ­
istence, where and what would be the com m erce o f the world ? A watch with a broken
mainspring, a steam -engine with a bursted boiler, or a ship without its ruddfer, would be
but inadequate representatives o f the com m ercial world without the R oyal Exchange and
the London merchants.
But, justly celebrated as these British merchants are for their, wealth, their enterprise,
their probity and their intelligence, and influential as they have long been, now are, and




342

M ercantile M iscellanies.

will long continue to be, through the exercise o f these attributes, upon the mercantile in­
terests o f the world, there is a yet higher position in which they are to be contemplated.
T h e y are the conservators o f peace, the nerves and arteries o f a nation’s power and a
nation’s wealth. From am ong them have arisen men o f the purest patriotism and the
loftiest public spirit— inen w h o, like W alw forth, have protected the crow n, and, like
Barnard and B eckford, have dared the frow ns o f a sovereign in defending the rights o f the
people. From am ong the merchants o f L ondon m ay be selected m en o f em inence in every
science, and the patrons o f every a r t ; men o f literature and taste, o f the loftiest Christian
virtue, the most liberal and benevolent dispositions, and the m ost expanded philanthropy.
T his praise o f the English merchants is not rendered them in derogation o f their brother
merchants, both in the old wrorld and the new , but simply in connection with the place o f
their daily assemblage, and the association wrhich a visit to that spot cannot fail to give
rise to.

T H E T R A D IN G M O R A L S O F T H E T IM E S .
W e com m end the follow ing paper, which w e cop y from the «•London S p e c t a t o r t o
the especial notice o f our readers:—
T h e great crisis, which has so dismayed the m oney w orld, is characterized by som e
very remarkable traits— “ anom alies,” we call them , in the hasty impatience o f a super­
ficial glance ; but an anom aly is generally an imaginary t h in g ; and, when w e use the
w ord, it means that w e have misconstrued a rule. T h e crisis, with all its anomalies, is
an effect follow ing its cause just as legitimately as a burn from the application o f fire ; and
the supposed anomalies are traits peculiarly instructive.
It is observed, not only that trade generally has been, on the w h ole, in a “ healthy” state
in spite o f these exceptional failures, but that houses which have stopped possess ample
assets to pay all, and that am ong the houses which have fallen, an extraordinary propor­
tion w'ere firms o f the greatest magnitude. T h e causes at w hich people glance, are as
m any as the com m entators— the act o f 1844, want o f accom m odation, want o f one
pound notes, over-speculation in corn, unpunctuality o f remittances from India, the tenmonth bills which have survived the establishment o f the overland route, transition state
o f the sugar trade, & c. But one cause o f a m ore sweeping kind, w e suspect, over-rides
all these— the very extension o f business taken within the grasp o f particular traders.
Instances are com m on just now o f houses failing which have for years carried on the
m ost extensive and com plicated affairs; have all that while conducted their operations in
the usual w a y ; have books to show kept in the m ost approved fash ion ; and yet have
for years been “ shakey.”
A s a matter o f account, their credit was com plete ; yet their
paper was viewed with distrust. N ob od y could tell w hy, but som ehow there was a vague
idea that their liabilities wrere too gigantic. In spite o f an air o f the utmost straightfor­
wardness, they incurred som e kind o f suspicion that attaches to m ystery. T his seems odd,
but it is not unaccountable. A n instinctive sense o f one important fact w ould gradually
steal into the minds o f the least theorizing and generalizing am on g their fellow'-traders.
T h e very extension o f the business transacted by one o f these monster houses, implies that
its accounts are m ixed up with the accounts o f other houses and d ealers; that its assets
are virtually made to consist, in great part, at least, o f the assets o f other houses, whose
accounts cannot b y any means be subject to any effectual scru tin y; its credit is in v o lv e d
in the operations o f a host o f other dealers, over w hich it can have no control whatsoever.
T h e m ore business is extended, the m ore these remote connections becom e multiplied and
extended beyond scrutiny or control. In truth, a house thus placed cannot com pass a clear
and definite understanding o f any one bargain which it undertakes; it cannot see the
ramifications o f its liabilities, but rushes into a lax kind o f partnership with strangers,
trusting to Providence for com ing through safe at last— like the huge French diligence
with six or seven horses, driven at a hand gallop by a single rope and a restless w hip. In
such a position, the utmost prudence, the most long-headed sagacity o f the chief, cannot
effectively guide the machine ; its operations g o beyond the ken o f ordinary intellect o r
calculation. Such a state o f things implies the necessity o f a bankruptcy law like that
o f E gypt, under which the insolvent debtor is never m ade bankrupt, but is helped by his
very creditors to g o on. A n d , indeed, the increasing tendency to dem and, and recipro­
cally to allow enormous loans— “ accom m odation” to the amount o f tens o f thousands, o r
even a m illion or tw o sterling— to “ support credit,” while a house is under threat o f a c­
tual bankruptcy, partakes strongly o f the Levantine practice. But such a practice is totally
inconsistent with our com m ercial c o d e , totally inconsistent with the railway speed and




Mercantile M iscellanies.

343

gigantic dimensions o f our mercantile operations; it can, therefore, never becom e a re­
cognized principle in our system o f cr e d it; and those houses which suffer their business to
extend beyond their ow n pow er o f supervision and control, must be content to incur the
chance o f these enormous disasters, bringing ruin upon others as w ell as upon themselves.
But, probably, it w ould be nearly as easy to make all m ankind pure and virtuous, as to
m ake our m onetary m agnates abandon “ the system,” it is so difficult for any *•' practical”
class, that lives and behaves by rule o f thumb, to abandon any “ system.”
T h ese vast
transactions, too, have in them their peculiar d ig n ity ; it is “ princely” not to be able to
tell the bounds o f your ow n business. Multiply your trading incom e by one or tw o places
o f figures, and it becom es a “ revenue.” Y o u must have a house at the W e st End— next
door, perhaps, to a duke’s. Y o u must indulge in a ducal expenditure, and i f you fail, it
must be for a ducal sum. T h e spirit o f lavish expenditure pervades all society, and is in­
creasing. It is the natural reaction on the baser spirit w hich m ade m oney-getting the
end. A m ore generous spirit is begotten by greater intelligence and better taste. T h e
best taste, indeed, is not necessarily costly ; beauty and grace, if not com m on am ong the
meanest and humblest classes, are not m onopolized by the wealthiest. A n extravagant
use o f costly materials is barbaric. But such, necessarily, is the condition o f a better
taste in its infancy. M eanw hile, if you happen to be a trader o f the “ princely” order, it
is incumbent on you to let your business grow to be as big as a province, to let its confines
be as rem ote from your ow n inspection as an Irish estate, and to k n o w it chiefly in its re­
sults— its “ revenue.”
A nice m orality, indeed, m ight suggest to these lordly spenders— both traders and dukes
— the question whether it is honest to incur liabilities o f an extent defying measurement,
so that you are unable to tell, in a thoroughly plain, honest, com m ercial sense, whether
you can discharge them or not. Y o u m ay presume that your imm ense liabilities w ill be
covered by the immensity o f your resources ; but unless you know it to a farthing, you
are no fair trader— you are prostituting your “ promise to pay.” “ M y w ord is m y bond,”
the trader’s boast, is becom ing an equivoque ; and, to support the dignity o f your m an­
sion in Belgravia, you are suffering the honest business w h ich you inherited from your
father to degenerate into something like a m agnificent swindle. I f you w ere to sell your
W e st E n d house and furniture, g o back into the city, and attend to business, your con n ec­
tions would sleep o’ nights with a renewed sense o f safety, and you would be the honester
man. But “ nobody does so n ow ,” and you are ashamed to begin.

T H E F O R E IG N A N D H O M E T R A D E .
T h e following statement, from a late L on d on print, w ell deserves the b rief space it
occupies in our M agazine :—
THE FOREIGN COMMERCE OF GREAT BRITAIN.

T h e com parative advances o f hom e and foreign trade have been frequently, and, w e think,
needlessly discussed. Both are in reality one thing— a result o f the necessities and d e ­
mands o f society ; and one cannot be favored in preference to the other, without inflicting
a general injury. Nevertheless, from the beginning o f the world, foreign trade has been
looked upon with jealousy by politicians, as i f it was som ething that did not com e into
the ordinary stream o f events at all. It is as natural, how ever, as the currents o f the
ocea n , or the course o f the storm. W in d s, waters, birds and men, are alike the ministers
o f nature in carrying her productions from one country to another, and planting new
seeds in every soil adapted for their reception ; and that nation which refuses the treasures
proffered by com m erce, or accepts them under invidious restrictions, is not m ore wise
than if it drew a cordon round its coasts to prevent the material agents o f the bounty o f
heaven from bestow ing a new fruit or flower upon the soil. F e w countries o w e so m uch
as Great Britain to the a gency o f m an in this kind o f distribution; or, in other w ords,
fe w possess less indigenous wealth, with the exception o f that o f the mineral kingdom .
T h e inhabitants lived on roots, berries, flesh and m ilk, till agriculture was introduced
upon the coasts by colonies from Belgium , and extended subsequently b y the fortunate
tyranny o f the R om ans, w h o exacted a tribute o f corn. A t this time our fruits were
nearly confined to blackberries, raspberries, sloes, crab-apples, w ild strawberries, cran­
berries, and hazel-nuts. In all Europe, according to Hum boldt, the vine follow ed the
G reek s, and wheat the Rom ans. W e have hardly any culinary vegetables o f our ow n ;
and one o f the Queens o f H enry V I II . was obliged to send to Flanders on purpose, when
she wanted a salad. It was not till the reign o f Elizabeth that edile roots began to be
produced in England. T h e bean is from E g y p t ; the cauliflower from C yp ru s; the leek




844

Mercantile M iscellanies.

f r o m S w itzerland; the onion from S p a in ; spinach and garlic from France ; beef from
S ic ily ; lettuce from T u r k e y ; parseley from S ardin ia; mustard from E g y p t; artichoke
f r o m Africa ; rhubarb, radish and endive from China, and the potato from A m erica. O a r
present fruits, with the exception o f the few we have m entioned, are all e x o t ic ; and, ire
the animal kingdom , our horses, cattle, sheep, swine, etc., have been so mnch crossed
and re-crossed by foreign breeds, that our ancestors, i f permitted to revisit the earth, w ould
hardly recognize the species.

T H E M O R A L IT Y O F T H E U SU R Y L A W S .
T h e follow ing forcible remarks on the moral effect o f the usury laws, are from a lecture
recently delivered before the N e w Y o rk M ercantile Library Association.

H o w professed

moralists and philanthropists can, with any show o f reason, support the la w , is a problem
that w e cannot solve on any principle o f com m on sense.
“ T h e usury law invites and encourages the borrow er to becom e a downright and
shameless knave. Either he was ignorant o f the usury, or else the loan was taken upon
his h o n o r; and his plea o f usury is a denial o f that last attribute o f character which m ak e»
even a barbarian to be trusted. T h e man w ho pleads usnrv never after respects him self.
Before he makes his plea he must pass through the several stages o f loss, vexation, m or­
tification, and despair o f regaining his position in society. H e feels that he is disgraced,,
and society enters heartily into his feelings. A n d this disgrace the legislature has invited,
and strongly encourages him to bring on himself.
“ W h en his case com es on in Court, the judge blushes as he charges the jury m favor o f
the borrow er, and the jury despise him at the m om ent o f returning a reluctant verdict ire
his favor. T h e only difference in public estimation between the m aker o f this plea and a
certain other character, is th is:— T h e one finds his neighbor’s property, and keeps it, and
the other takes it by stealth. T ru ly we m ay say, ‘ the law entered, that offence m ight
abound.’ ”

T R A D I N G C O M P A N Y O F J E S U IT S .
James Jackson Jarvis, Esq., the editor o f the “ Polynesian ,” furnishes us with som e
further information o f the operations o f the extensive com pany o f Jesuits.
Its capital is reported at 26,0 00 ,0 0 0 francs, and several personages o f great political
em inence and wealth are connected with it. Branches are already established at V al­
paraiso, T ahiti, 'I ongataboo, and other islands, and one is soon to be opened here. Its
objects are supposed to be to extend the use o f French manufactures by supplying the
natives o f Polynesia with goods at cost, and thus, ultimately, by their cheapness, to drive
others out o f the market, or provide for the supply o f the temporal wants o f the Polyne­
sians in connection with their spiritual, at the cheapest and most enticing rate for both,
and in this w ay acquire a permanent influence over them. W e know nothing m ore
about it than we give ; and whether that is w holly correct or not, there appears to be s om e
gigan tic scheme afloat, under French semi-religious patronage, for m onopolizing trade and
proselyting to Romanism throughout Polynesia. W e hear fuither that the merchandise
o f other countries is em braced in the arrangement, so that both English and Americanr
goods are to be furnished, it is said, at first cost, until they have secured the m arkets.

E F FO R TS T O SECURE T H E W E S T E R N T R A D E .
T h e W estern trade has been for thirty years, and must always continue to be, the
highest prize within reach o f all our cities on the sea-board. N e w Orleans, Baltimore,.
Philadelphia, and N e w Y o r k , have all been built up, successively, by their participation,
in its advantages ; and n ow w e have Boston, with her strength and capital, and Portland,,
with her miraculous energies and forecast, stretching forward in the same career, and
disputing the prize with a determination not to be resisted. But there is enough f i r all*
and m ore than en ou g h ; and the only effect o f this magnificent rivalrv will be, to furnishi
a ch oice o f markets for the husbandmen o f Illinois, and the other W estern and South­
western States.
Philadelphia, N e w Y o r k ,’Boston, and Portland, are all pushing for the lakes, and w ill
soon have accom plished their purpose. T h e next m ove will be to reach the O h io and
Mississippi rivers, and establish a direct inland com m unication for travel and business with,
the South-western States, and the low er Mississippi valley, which will be open at alt
seasons o f the year — in winter and summer— in flood and drought— in peace and war-




The Book Trade.

THE

345

BOOK T R A D E .

1. — The Life of the Chevalier Bayard, “ The Good Knight,” “ Sana pevr et sans re~

proache.”

By W .

G

il m o r e

S

im m s

.

12m o.,pp. 4U l.

N ew Y o r k : Harper & Brothers,

Mr. Simms could scarcely have selected a better subject for the display o f his varied
talents, either as a historian, novelist, or poet— departments o f literature in w hich, i f not
in each equally successful, he is at least respectable. There is history, biography, rom ance,
and poetry, in the present work. T h e name o f the Chevalier Bayard has grow n, as the
author remarks, into proverbial identification, in m odern times, with all that is pure and
noble in m anhood, and all that is great and excellent in the soldier. H o w far this last
characteristic o f greatness com ports with the genius o f Christianity, in its godlike, pro­
gressive developm ents, we shall not stop to inquire. W ith all the noble traits awarded by
history and our biographer to the Chevalier, still he confesses, at the close o f his most in­
teresting m em oir, that Bayard, though, par excellence, the “ G ood K night,” “ sans pour
et sans reproache ” was yet “ no saint.” “ He left, a natural daughter, named Jeanne
Terrail, whose m other was o f a noble family in the M ilanese.”
But our space prevents
us from further rem arks or quotations. Suffice it to add, that Mr. Sim m s has had access
to the m ost important French and English works touching the famous knight, whose
character and deeds he has apparently described w r h fidelity, and certainly with a power
o f condensation that w e have rarely, if ever, seen equalled. T h e m em oir w ill, we are
sure, be popular, and add new laurels to the literary reputation o f the distinguished
Southron.
2.

— The Writings o f
Brothers.

George Washington.

V ol. V I II .

N ew

Y ork:

Harper &•

W e have before called the attention o f our readers to the re-issue, by the Brothers
Harper, o f Sparks’ L ife and W ritings o f W ashington ; referring to the beautiful and sub­
stantial style o f publication, and the extrem e low price at which they are afforded, being
less than on e-h alf the price o f the Boston edition, without the corresponding cheapening
o f the material o f publication. T h e present, (eighth volum e,) covering nearly six hun­
dred pages, is devoted entirely to the correspondence and m iscellaneous papers o f W a s h ­
ington, relating to the A m erican Revolution. A s the M an, and the events o f that re­
m arkable epoch in the w orld’ s history, will continue to brighten as they recede, the m ore
valuable will be these enduring memorials, these faithful records o f the past.
3.

— Now and Then. “ Through a glass darkly.” B y S a m u e l W a r r e n , F . R . S.,
author o f “ T e n Thousand a Y ea r,” and “ T h e Diary o f a Late L ond on P hysician.”
N ew Y o r k : Harper & Brothers.

T h e nam e o f the author, and m ore especially the titles o f the tw o w orks affixed, as
from his pen, will be sufficient inducem ent to all w ho have read either o f the form er works
to look into th is; which i f they do, w e need not add, our end, as well as that o f the
A m erican publishers, will be answered by this announcem ent. T hat it m ay be under­
stood that we do not speak without “ b ook ,” w e w ill say that we read it at tw o sittings
with as much interest as the “ Diary.”
T h e interest o f the narrative, though simple, is
powerfully susrained from beginning to end, and the teaching o f the work is eminently
Christian. T h e m ost fastidious opponent o f novel reading will confess this an unexcep­
tionable book.

4.

— The Edinburgh Phrenological Journal, and Magazine o f Moral and Intellectual
Science. Edited b y G e o r g e C o m b e and R o b e r t C o x . N e w Y o rk : F ow ler & W ells.

T h is work “ will contain articles from some o f the most distinguished and philanthropic
writers o f Europe. Phrenology will be considered in relation to mental and moral culture,
Physiology to Health, M agnetism to the cure o f disease, Human Rights in relation to
religious and political liberty, etc. In short, it will assume a high place a m o n g o u r reform­
atory literature, and supply the present dem and o f the truth-seeking com m unity for an
advanced w ork upon M oral and Intellectual S cien ce.” Such is the com prehensive plan,
as briefly expressed in the advertisement o f the A m erican publishers. T h e leading paper
in the first number is an essay on “ National Education,” by G eorge C om be— a paper
abounding with sound com m on-sense view s and sentiments, which cannot be too gen e­
rally read or widely circulated. T h e “ Journal” is published quarterly, at tw o dollars a
year. T h e first number contains one hundred and twelve octavo pages, handsomely
printed on a fine white paper.




The Book Trade.

846

5 .— The Lives o f the Lord Chancellors and Keepers o f the Great Seal o f England.
From the Earliest Times till the R eign o f K in g George IV . B y L o r d J o h n C a m p ­
b e l l , A . M ., F . R . S. E.
S econd Series, from the R evolution o f 1688, to the Death
o f L ord Chancellor T h u rlow , in 1806. In tw o volumes. 8 vo., pp. 538 and 513.
Philadelph ia: L ea & Blanchard.
Som e months sin ce w e noticed, in the pages o f this M agazine, the publication o f the
first series o f this great w ork in three volumes, covering m ore than fifteen hundred pages
octavo, and em bracing the lives o f & B ecket, W olse y , M ore, B acon, Clarendon, Shaftes­
bury, & c. T his second part o f L ord Cam pbell’s w ork extends from the R evolution o f
1688 to the death o f Lord Thu rlow in 1806, and contains the lives o f tw o Lords C om ­
missioners o f the Great Seal, o f one L ord Keeper, and o f twelve L ord Chancellors. T h e
noble author o f this w ork seems to have enjoyed rare advantages for the prosecution o f
his labors as a biographer, having access not only to sources o f inform ation accessible to
all, but, through the descendants o f m any o f the characters included, to voluminous m an­
uscript journals, letters, and docum ents, that shed a light upon the undertaking that could
scarcely be derived from the usual sources. F or instance, the present Earl o f C ow per
furnished him with a cop y o f the Diary o f L ord Chancellor C ow per, and a Diary o f the
Countess o f C ow per, his second wife, L a d y o f the Bedcham ber to the Princess C aroline,
and to a correspondence between him and his father and m other, and both his w ives, e x ­
tending over a period o f above fifty years. Sim ilar facilities w ere afforded in regard to
the different chancellors whose lives are here recorded. T h e w ork cannot fail o f instruct­
in g the jurist and the statesman, w hile it must prove deeply interesting to the student o f
E ngland’s history and laws, m arking, as the noble author has, all the important changes
in the administration o f justice, whether by legislative enactm ent or by forensic discussion.
Indeed, it m ay be studied as a history o f English jurisprudence from the foundation o f
the m onarchy to our ow n times.
6 -— Tales and Stories from History. B y A g n e s S t r i c k l a n d , author o f the “ L ives o f
the Queens o f E ngla n d .” W ith illustrations. 18m o., pp. 370. P hiladelph ia: L ea &
Blanchard.
These tales, twenty-four in number, are, for the most part, either founded upon, or c o n ­
nected w ith, some important event, or remarkable individual in history, and em body m uch
useful, and, at the same tim e, entertaining inform ation, as to the m anners and customs o f
the peculiar era to which they relate. T h e style, though sim ple, is by no m eans puerile,
but is adapted to the com prehension o f children at a very early a g e ; and w e can assure
our readers that the tales w ill be found interesting to readers o f matured intellect, at an
advanced period o f life. I f they d o not supply the place, they at least create a taste for
the study o f history, by indulging the juvenile reader with an attractive portion o f its
ch oicest flowers, arranged in the tem pting form o f stories.
7.

— Don Quixote De L a Mancha.
by C h a r
numerous illustrations, by
Lea & Blanchard.
v a n t e s

S

a a v e d r a

,

l e s

T

J

o n y

Translated from the Spanish o f M i g u e l D e C e r
, Esq.
Carefully revised and corrected. W ith
Johannot.
2 vols., 8vo., pp. 921. P hiladelphia:

­

a r v is

A ccord in g to tradition, this m ost popular Spanish rom ance, w hen it originally cam e out,
was received w ith the m ost perfect indifference. But it was the best o f its class, designed
by its author to cure the immoderate taste for the rom ance o f chivalry. Cervantes opposed
to it arms m uch m ore efficacious in the cause o f reason than arguments, serm ons, and
legislative prohibitions— ridicule. H is success w as com plete. It was first published in
1605, and has since enjoyed a popularity almost unprecedented in the history o f m o d em
literature. T h e present edition is published in a handsome style, and profusely illustrated ;
but the engraver, in our judgm ent, has not done justice to “ T o n y Johannot’s” designs.
8.

— Review o f the L ife and W ritings o f M . Hale Smith: with a Vindication o f the
M oral Tendency o f Universalism, and the M oral Character o f Universalists. B y L .
C.

B

r o w n e

.

12m o., pp. 360.

B o sto n : A b el Tom pkins.

M r. Sm ith, whose life and writings are review ed in the present w ork, was form erly a
preacher o f U niversalism ; but changing his opinions in regard to the doctrines o f that
denom ination o f Christians, wrote a w ork attacking with great severity, not only their
religious sentiments, but the m oral character o f those w ho privately em braced, or openly
prom ulgated them . T h e present w ork , it must be admitted, is written in a m ore catholic
spirit than the w ork w h ich it m ore particularly reviews. It is dedicated “ to the candid
and inquiring o f all religious orders, and to the com m unity in general, especially to those
w h o have heard the lectures or read the writings o f the R ev. M . H ale Smith.”




The Book Trade,
9.

347

— The Library of American Biography. Conducted b y J a r e d S p a r k s . Second S e­
ries. V ol. X V . Lives o f William Richardson Davie and Samuel Kirkland. 12m o.
B oston : Charles C. Little and James Brown.

T h e present volume o f this excellent series o f A m erican Biography embraces the life
o f W illiam Richardson D avie, b y F ordyce M . Hubbard, and that o f Sam uel K irkland, by
Samuel K. Lathrop. M r. Davie was a native o f England, b o m in 1 7 5 6 ; but his father
brought him to A m erica in 1763, and placed him in the care o f a clergym an, his maternal
uncle, residing in South Carolina. H e afterwards studied law, and finally raised a troop
o f cavalry, and distinguished him self in the war o f the R evolution. M r. Kirkland was
b om at N orw ich , Connecticut, in 1 7 4 1 ; and, as w e learn from the m em oir, few am on g
those w ho attempted to Christianize the Indians have been m ore faithful and devoted, or
made larger sacrifices, or exposed themselves to greater perils and hardships, or had their
efforts crow ned with m ore success, than Samuel Kirkland, missionary to the Indians. It
w ould be interesting to sketch the lives o f these distinguished m en, though in different
sph eres; but that cannot be done in this place. It therefore only remains for us to add
that w e consider the introduction o f their biographies into this series a valuable contribu­
tion to it, which will be appreciated by all w ho take an interest in the m en and events o f
our early history. A n appendix is added to the present volum e, containing a list o f the
lives contained in the fifteen volumes o f the second series, as also a copious general index
to the s a m e ; from w hich w e infer, although it is not so stated, that the second series is
brought to a close. W e hope and trust that Mr. Sparks will not cease from his labors in
this department o f literature.
10. — Memoirs o f Elizabeth Fry, with Extracts from her Journals and Letters. Edited
by tw o o f her Daughters. In 2 vols., 8vo., pp. 525. Philadelphia: J. W . M oore.
Mrs. F ry, w h o, by her devoted but wisdom -inspired zeal, spent a long life in d oing good ,
b y visiting prisons, and ameliorating the condition o f their inmates, earned the title o f the
“ Fem ale H ow ard,” has found at length, in the affection o f her tw o daughters, m ost fitting
biographers ; although the most enduring are to be found in the works that have follow ed
her gentle footsteps. N on e could better understand or appreciate the m otives o f conduct,
the secret springs which actuated this benevolent lady, than those w hom consanguinity
and affection had bound together in an intimacy that death only could sever. T hat the
labor has been faithfully and impartially performed, the volum e before us furnishes the best
evidence ; especially that the subject is permitted to speak for herself in her private journal
and letters, which form by far the most interesting and instructive portion o f the m em oir.
T h e y open to us the large experience o f a life devoted to the highest good o f a despised
and heretofore neglected class o f fellow -m en— we should say, part o f the Great Brother­
hood o f M an ; for in that light Christianity teaches us to look upon the m ost low ly and
the most degraded o f human kind. W e trust these volum es will be extensively circulated
and read, not only by Christian w om en, but Christian m en ; as all m ay derive from them
lessons o f wisdom and goodness that cannot fail o f advancing the highest interests, as
they must gratify the noblest impulses. T h e w ork is issued in a manner creditable to the
enterprising publisher.

11. —The American Veterinarian; or, Diseases o f Domestic Animals. Showing the
Causes, Symptoms, and Remedies, and Rules for Restoring and Preserving Health
by Good Management; with Directions for Training and Breeding. B y S . W . C o l e ,
editor o f the Agricultural Departm ent o f the “ Boston Cultivator,” form erly editor o f
the “ Y a n k ee Farm er and Farmers’ Journal.”
18m o., pp. 288.
B o sto n : J ohn P .
Jew ett & Co.
T h is little manual is the result o f tw enty years’ experience, the author having devoted
that time to collecting valuable rules and prescriptions for m anaging animals and curing
their diseases, while engaged in practical farming. W e agree with the author in his state­
m ent, that the w ork should not only be in the hands o f every farmer, but o f every m e­
chanic, and persons o f every profession, w ho keep only a single horse, c o w , sheep, pig,
d og, or a few fow ls. T h e m otto— “ the m erciful m an is merciful to his beast,” should be
impressed upon every human heart.

— Views and Reviews in American Literature, History and Fiction. B y the author
o f “ T h e Y em a ssee,” “ L ife o f M arion,” “ History o f South C arolina,” etc., etc.

12.

M r. Sim m s, the author o f the present w ork, represents, as it w ere, the literature o f the
“ sunny South” in every d epartm en t; in poetry, history, biography, and rom ance. T h e
present volum e exhibits him in the light o f the critical review w riter; in which he seems
to be as much at hom e as in any o f the other departments o f literature, w hich he sustains
with credit to himself, and honor to his country.




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13.

— The Poetical Language o f F low ers; or, The P ilgrim age o f Lore.

M il l e r , author o f “ Pictures o f Country L ife,” “ Rural Sketches,” etc.
M rs. E. O a k e s S m it h . l2 n io., pp. ‘2 2 4 . N e w Y o r k : .1. C. Riker.

B y T homas
E dited by

T h e books hitherto published, touching the language o f flowers, are, with the exception
o f a few slight alterations and additions, mere translations from the French work o f A im d
M artin. Mr. M iller’s work profesaes to be original. I f flowers, he says, the most beiiutiful objects in nature, are to be converted into the messengers o f friendship and love, and
are capable o f conveying beautiful and poetic meanings, it is really worth while to attempt
tracing a resemblance between the flow er and the emblem it r< presents, which shall, at
least, have som e share o f reason in it. T h is task the author has attempted, and with suc­
cess ; taking for his guides no less authorities than C ln u ce r, Spenser, Shakspeare, and
M ilton. W hatever meanings they have attributed to flowers, Mr. M iller has retained,
and endeavored to find in either the name or nature o f the flower som e resemblance to
the thought it is intended to exp ress; and so, by adding here and there a blossom to
the beautiful wreath they left unfi tished, com pleted a work worthy o f the nam e o f England’s
Language o f FI »wers. M r. R ik er, the Am erican publisher, has contributed to the w ork
whatever taste and liberality dietated in the “ getting u p ;” and the result is, a beautiful
volum e for the “ ladies’ boudoir,” or the “ centre-table.”

14. — The American Drawing Book; a Mutual for the Amateur, and Basis o f Study
for the Frofess'on'il A rtist: especially adapted to the Use o f Public and Private
S;hoo’s , as well as Home Instruction. By J. G .

C

h a p m a n

,

M. A.

N e w Y ork s

4to .

J. S. Redfield, Clinton Hall.
T h e importance o f drawing, as a part o f popular education, and the want, so generally
expressed, o f som e popular w ork on the subject, by which it could be introduced not only
into schools, but home instruction, has led, w e are informed by the author, to the publica­
tion o f the A m erican Draw ing Book. If, as Mr. Chapman remarks, “ any one who can
learn to write, can learn to draw ,” it seems to us that so useful an aceom pli-hm ent should
be as generally taught in all our schools and a cadem ies; for drawing is but another “ m ode
o f expressing ourselves, not less useful or necessary than that by letters or words.”
The
first part o f the work is devoted to primary instructions, and the second to the rudiments
o f drawing, which are illustrated with great skill and clearness.
T h e engraved sketches,
which accom pany the letter-press, in almost every variety o f outline, to the perfect picture,
approach as near the ideal o f artistic perfection as can well be ; and we have never, we
think, seen finer specimens o f w ood engraving. A m ere exam ination o f this w ork can­
not fail o f creating a taste for the art it is so well fitted to impart.
15 . —Practical P hysiology: fo r the Use o f Schools and Families.
M . D. Philadelphia : T h om a s, C owperthwait & Co.

By

E

d w a r d

J

a r v is

,

T h e study o f physiology has been heretofore almost entirely overlooked or neglected in
our academies ; and yet, in our estim ation, it is the most important branch o f education.
Its mor.d, religious, and intellectual bearings, are o f unspeakable importance. T h e care
o f health should take precedence o f all other responsibilities, and requires the earliest
attention to prepare to meet th em ; inasmuch as, before any one can have a regard for
other know ledge, he must know how to live in accordance with the laws o f nature, which
are as emphatically the laws o f G od as the D ecalogue, written by M oses on M ount Sinai.
T h e present work has been written expressly to aid youth and others in the acquirement
o f this all-important branch o f education ; and it describes only those organs, and teaches
only those principles, which are necessary to be know n for the correct m anagem ent o f our
organs, the maintainance o f health, and the preservation o f life. T h e w ork is divided
into seven parts, treating in order the subjects o f digestion and food ; the circulation o f the
blood and nutrition; respiration; animal h e a t; the skin, bones, m u scles; exercise and
rest, and o f the brain and nervous system . W e hail the appearance o f works o f this
class, adapted to the capacities o f learners, as a new era in the great work o f education ;
and, therefore, w e gladly com m end it to the attention o f teachers, as well fitted to tho
objects for which it is intended.
16. — Dramatic Poems. B y
Crosby and H. P. N ichols.

H

a r r ie t t e

F

a n n in g

R

e a d

.

8

vo., p p .2 9 7 .

B oston : W illiam

T h ese plays were written, it appears, betw een the age o f twenty and twenty-three ;
“ a period at which much literary pow er or finish is not expected even o f tire stronger sex,
with their superior opportunities o f thought and study.”
N otwithstanding this “ excuse,’ *
they possess merit as dramatic poem s, better adapted, perhaps, for the closet than the
stage, which is no disparagement to the genius o f the author. T h ere are many passages
and scenes in the poem s that would not detract from the reputation o f gifted dramatists*
even o f the “ stronger” sex.




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17. — An Account o f the Organization of the Army o f the United States, with Biogra­
phies of Distinguished Officers o f all Grades.

By F a y e t ie R o b i n s o n , lute an Officer
o f the A rm y.
W ith thirty-six authentic Portraits. 2 v d s ., i2 in o ., pp. 352 and 3 3 3 .
Philadelphia: E l i . Butler & C*».

T h is work is destined by the author to fill a vacuum in the history o f our country— “ to
pre>erve, if possible, the memory o f the services o f m any distinguished m en, the achieve­
ments o f whom were apt, in the general annals o f the United States, to be overlooked.”
A declared ‘ •prominent feature «>f this book is a description o f the separate arms o f the
line, and corps o f the staff, nothing similar to which has yet been prtsented.” It is at
once biographical ami historical— com m encing with the orguuizati n o f our arm y, sketch­
in g its military achievement-*, as well as the personal history o f its distinguished officers,
o f all grades. T h e numerous portraits, derived from paintings, draw ing5, and daguerreo­
types, are handsomely executed ; and, ju d gin g from these o f several o f the officers whom
w e have seen, decidedly the most accurate o f any that have yet been given in the many
hasty histories o f the M exican war, published during the last twelve mouths. T h e whole
w ork is published in a style much superior to similar works, and contains more matter o f
permanent interest for the class o f readers for whom it is designed— a class by no means
email, judging from its already extensive sale.

18. — Mexico and her Military Chieftains, from the Revolution of Hidalgo to the Pre­
sent Tune; comprising Sketches of the Lives o f Hidalgo, Morelos, Iturbide, Santa
Anna, Gomez Fir.'as, Bustamente, Parades, Almonte, Arista, Aluman, Ampudia, and
De La Vega. By F a y e t t e R o b i n s o n . Illustrated by twelve Portraits and E ngravings.
12m o., pp. 343 .

Philadelphia: E . H. Butler & Co.

Besides the biographical notices o f the military chieftains named in the title-page, this
w ork contains a variety o f interesting information relating to the M exican republic, drawn
from various sources. T h e engraved illustrations, including portraits o f the M exican
generals, are well d one, if not accurate.

19. — The New C erk's Assistant, or Book o f Practical Forms; containing Numerous
Precedents and Forms for Ordinary Business Transactions, with Reference to the
Various' S alutes, uni Latest Judicial Decisions: With an Appendix, containing the
New Cinstitution of the State of Neio York. Designed for the use of County and
Town Officers, Merchants, Mechanics, Farmers, and Professional Men. By J ohn S.
J e n k in s , Counsellor at L aw .

A uburn : J. C. Derby &, C o.

Sec .nd edition, revised and enlarged.
Buffalo: D erby & Hewsori.

J2m o., pp. 598.

T h e contents and uses o f this practical manual are com prehensively described in the
title-page quoted above. T h e rapid sale o f the first edition, as we learn from the author’s
preface, rendered a reprint necessary at a much earlier period than was anticipated at the
time o f its preparation. T h e author has accom plished much in relieving his work from
verbose, um nea .i tg technicalities, that neither add to their practical utility or to their
validity, llis aim appears to have been to sim plify, and reduce within a reasonable co m ­
pass, the forms in ordinary use, and present others, the absence o f which, in previous
works, has been a very general source o f regret. A m on g the new features o f this work,
m ay be found those o f A uctions, Banks and Corporations, M echanics’ Lien, T a xes and
Assessm ents, and others o f general importance. It is adapted to the amend d constitution
o f the State, which is added to the appendix. It is, on the whole, the most com prehen­
sive and practical work o f the kind that has yet been published ; and will be found equally
useful to the lawyer and the m erchant, the farmer and tne m echanic.

— Introduction to the Science of Government, and Compcnd o f the Constitutional and
Civil Jurisprudence o f the United States; with a Brief Treatise on Political Econo­
my. Designed for the Use o f Families and Schools. By A n d r e w Y o u n g . i 2 m o . ,

20.

pp. 332.

Buffalo: Derby & H ew son.

A u b u rn : J. C. D erby & Co.

T h is work has already reached its fourteenth edition, and more than forty thousand
copies have found their way into the families and schools o f this and the neighboring
States. It is divided into four parts, and treats in order o f the Principles o f Governm ent,
the Governm ent o f the United States, Civil Jurisprudence o f the United S tates; and in
the fourth part we have a brief treatise on Political E con om y. O a the subject o f trade,
the writer enforces the doctrine o f protection to hom e manufactures, and endeavors to
show the advantages resulting from that system. T h e w hole subject is treated with
clearness and precision ; and, how ever we m ay differ from som e o f the positions o f the
author, w e find m uch to approve and com m end.




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350

— A Dictionary o f Poetical Quotations: consisting o f Elegant Extracts on e v e r y
Subject. Compiled from various Authors, and arranged under Appropriate Heads.

21.

By

J

o h n

T.

W

a t so n

,

M . D.

12m o., pp. 506.

Philadelphia: Lindsay & Blaikston.

T h is is the m ost com plete and best arranged Dictionary o f Poetical Quotations, we
venture to say, that has yet been made. The w hole field, A m erican, English, and E uro­
pean, has been culled, and almost every poet in and out o f Christendom, past and present,
has been laid under contribution to furnish quotations apt to illustrate every real or im a­
ginary event, circum stance, or sentiment. T h e uses and the object o f the book must be
apparent to every person o f taste, and to such it must prove a great convenience ; for, as
the com piler justly remarks, nothing adonis a com position o r a speech m ore than appro­
priate quotations; endorsing, as it w ere, our ow n sentiments with the sanction o f other
minds. T h e subjects are arranged after the m anner o f the dictionary, and the extracts
are in chronological order, extending from the days o f the earliest English poets to the
present time. It w ill be found particularly valuable to the editor, the author, and the pub­
lic speaker.
— Aurelian; or, Rome in the Third Century. In Letters o f Lucius M. Piso , from
Rome, to Fausta, the Daughter o f Gracchus, at Palmyra. 2 vols., 12mo., pp. 260 &

22.

280 .

N e w Y o r k : Charles S. Francis & Co.

T h is really beautiful w ork, a sequel to Zenobia, from the sam e accom plished author,
was first published nearly ten years since under the nam e o f “ Probus,” and afterwards m
several places abroad under that o f “ A urelian.” “ S o far,” says M r. W a r e , in the brief
notice to the present edition, “ from com plaining o f the innovation, I could not but regard
it as a piece o f good fortune, as I had m yself long thought the present a m ore appropriate
title than the one originally chosen.” T h e chaste and correct style sustained throughout
these pages, in connection with the subject, entitles the w ork to rank am ong the finest
classics in our language. W e heartily thank the enterprising publishers for furnishing us
with an edition that well deserves a place in every library, as a standard o f literary ex ce l­
lence in all respects
— The History of the Church o f England to the Revolution , in 1 6 8 8 . B y T h o m a s
S h o r t , D. D ., Bishop o f S odor and M an.
First A m erican , from the Third
English Edition. 8vo., pp. 352. N e w Y o r k : Stanford & Swords.

23.

V

o w l e r

T h e present w ork is a com pact and labored history o f the Church o f E ngland, dow n
to the year 1688. T h e author, w h o is a distinguished divine o f that church, appears to
have consulted the authorities connected with his subject, with pains-taking diligence ;
and although, o f course, w riting with the bias naturally springing from his education and
habitudes, there is evidence upon its pages that it has been com posed in a spirit o f fidel­
ity and candor. Its professed design, w e learn from its preface, is to facilitate the
studies o f young m en w h o are preparing themselves for the offices o f the church through
their academ ical pursuits. S om e persons, he remarks, m ay object, that “ the opponents
o f the establishment are occasionally depicted in too favorable colors, and the defects o f
our com m on parent held up to view with less cautious respect than becom es a dutiful son
ot the Church o f England. L et such rem em ber, in the spirit o f m eekness, that there is
a higher b od y to w h ich w e belong, and that the Church o f E ngland is n o further our
m other than as she proves herself a Church o f Christ.’ *
— The Art-Union Monthly Journal of Arts.
Y o r k : J. P . R ed ner, 497 Broadway.

24.

L on d o n : Chapman & H all.

N ew

W ith the January number before us, com m ences a new volume o f this beautiful w ork.
Its illustrations are executed in the highest style o f the arts o f design and engraving. T h e
present num ber contains a full-length portrait o f Prince A lbert, engraved on steel, by
G . J. B row n, from a picture by R . T horbu m , in the possession o f Queen V ic to r ia ; T h e
Breakfast Party, on steel, by E dw ard Finden, from a picture o f Landseer, lent by the
Lady D o r e r ; and Psyche, on steel, by W . R offe, from a statue by Sir R . W estm acott,
R . A ., in possession o f the Duke o f B edford. T h e literary department is o f a high order,
and the w ork contains m uch matter o f interest to not only persons o f taste, but to the
m anufacturer; as w e find in each num ber papers o f original designs for manufacturers,
architects, & c . W e are gratified to learn that the w ork is beginning to receive in this
country the patronage it so richly deserves.
— The Vast Army. An Allegory. B y the R ev . E d w a r d M o n r o , Perpetual Curate
o f H om m -W ea ld , author o f “ T h e Dark R iver,” “ True Stories o f Cottagers,” “ Old
R obert G ray,” etc. N e w Y o r k : Stanford & Swords.

25.

T h ose w h o have read the fam ed religious allegories o f Bunyan, (and w h o has not ?)
will relish the present attempt to enforce religious sentiments in the present agreeable form.




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‘2 6.— The Water-Cure in America.

Two Hundred and Twenty Cases o f Various
Diseases Treated with Water, by Donors Wesselhoeft, Shew, Bedortha, Shiefedecker, Pierson , and others; with Cases of Domestic Practice, Notices of the Water-Cure
Establishments, Descriptive Catalogue of Hydropathic Publications, etc. Designed
for Popular as well as Professional Reading. E dited by a W a t e r P a t i e n t . 12m o.
N e w Y o r k : W ile y & Putnam.

W e have before expressed a favorable opinion o f the water-cure, having som e personal
experience o f the beneficial results o f the system ; w hich, w e are gratified to k n ow , is daily
gaining converts from the m ost intelligent portions o f society. T h e cases, i f fairly stated
— and, from our know ledge o f several o f the gentlem en engaged in the practice, w e have
little reason to doubt— are quite sufficient to impress every candid and fair-m inded person
with a reasonable confidence in the salutary effects o f water, in its judicious application,
as a curative agent for almost all the ills w h ich flesh and blood is heir to. Indeed, in our
opinion, a consistent believer in the system , with an ordinary constitution, m ay pass
through a long life, without pain or sickness o f any kind.
2 7.

— Swan's Series o f Readers.

Philadelphia: T h om a s, C ow perthw ait & Co.

T h is series is com posed o f five books, em bracing the “ Prim ary School R eader,” part
first beginning with the alphabet, and easy lessons for beginn ers; parts second and third
for those m ore advanced ; and the Gram m ar S ch ool R eader, consisting o f selections in
prose and poetry, with exercises in articulation, designed to follow the Prim ary School
R eader, part th ird ; and finally w e have the District S ch ool R eader, or exercises in read­
in g and speaking, designed for the highest classes in public and private schools. T h is
series o f books appears to be adm irably well adapted to every class o f learners— from the
lisping infant, almost, to the m ore advanced y o u th ; and the selections have regard to
good taste, and a sound m orality. W e rejoice, m oreover, to find that M r. S w an has re­
jected “ those w ar and battle pieces o f poetry, w h ich have been so com m on in times past,”
as unsuited to the spirit and genius o f the age.

28.

— Orlandino; a Story of Self-Denial.

By

M

a r ia

E

d g e w o r t h

.

B o s to n : Gould,

Kendall & L incoln.
T his is the first o f a series o f small volum es entitled “ Chambers' Library fo r Young
People," w hich w ill consist principally o f m oral and religious tales, likely to influence the
conduct and feelings o f y o u th ; and it affords us pleasure to state that Messrs. G ould,
Kendall & L incoln, o f B oston, have m ade arrangements for a simultaneous publication o f
the series in A m erica, and w ill issue future volum es prom ptly, and in equally elegant style
with the Edinburgh edition. T h e present tale was written expressly for the series by M iss
E dgew orth, whose success in this departm ent o f literature is sufficiently w ell know n to
secure for it a hearty w elcom e.

— The Nineteenth Century. A Quarterly Miscellany.
1848. Philadelphia: G . B. Zieber & C o.

29.

V ol. I ., N o . I.— January,

I f w e are to take this first number as a specim en o f what w e are to expect in succeed­
ing issues, w e trust its editor will live to conduct, and its writers to contribute to its
pages beyond even the precincts o f the century it is designed to illustrate. It com bines
the solidity o f the review , and the variety o f the m agazine. Its m otto from Goethe,
“ L i g h t ! m ore light still,” and its dedication to Douglass Jerrold, and the nam es o f the
contributors, indicate its aims and its objects, as clearly, perhaps, as w e cou ld describe
them w ere w e to m ake the attempt. It is fronted and em bellished with a beautiful steel
engraving o f our worthy friend H ora ce G reeley, prepared expressly for the work.
30.
S

— The Little Republic.
m it h

,

W o o d v ille , R oxbury.

Original Articles, by Various Hands.

E dited by Mrs. T . P .

N e w Y o r k : W ile y & Putnam.

T h e articles in this little volum e, w e are inform ed by the lady o f W o od ville C ottage,
were contributed b y the respective writers expressly for this purpose ; and am ong them we
notice the nam es o f John Q uincy A dam s, G overnor B riggs, o f Massachusetts, R e v . Orville
D ew ey, and som e others, scarcely less distinguished as writers or public men.
31.

— Camp Life o f a Volunteer.

Philadelphia: G rigg, Elliott & C o.

T h is is a very clever a ccou nt o f a cam paign in M ex ico, furnishing a glimpse at life in
camp, written amidst all its confusion and inconvenience, “ with lim ited sources o f in­
formation, and without any expectation o f future publication
a circum stance w hich, in
our opinion, enhances its value. It i9 accom panied with a m ap o f the battle o f Buena
Vista.




The Book Trade.

852

32. — A Universal History, in a Series o f Letters : being a Complete and Impartial Narratine of the Most Remarkable Events of all Nations, from the Earliest Period to the
Present Tune. Forming a Complete History o f the World. Vol. J., A ncient H is­
tory.

8vo.

N ew Y o r k : W jiln n i HL G raham .

T h is w ork, w e are inform ed, is to be published both at Leipsic and L ondon , and brought
Out here in advance o f the European ed itio n s in accordance with an especial arrange,
m eat with the author, whose name will, therefore, be withheld until after the publication
abroad shall have taken place, when it will appear. W e shall speak of its cHaracter m ore
fully as it advances. Four numbers w.ll com plete the present volum e, which is devoted
to ancient history.
33.
C

— The Children at the Phalanstery : a Fami'iar Dialogue on Education. B y F ,
Translated by F r a n c i s (). S i i a w . N ew Y o r k : W illiam I i. Graham. •”

o n t a g r e i ..

T h e friends o f Association in the United Stares are deep'y indebted to M r. Shaw for
his m any correct and beautiful translations o f French works bearing Ypon rhot s u b je ct;
and for none m ore than the present publication, extracted from “ L e F ouoer Pa la i«-R o y a l”
o f M . F. Contagrei, in which the author has stated, under the form o f a dialogue, the most
im p jita n t p lints o f the socieiary theory o f Fourier.

— The Farmer and Mechanic ; devoted to Agriculture, Mechanics, Manufactures,
S::e.ice, and the Arts. W . H . S t a r , Editor a n d Proprietor ; J. M . S t e a r n s , A s s o c i a t e

3 4.

Editor.

N ew Y o r k : 135 N as3ju-street.

^ T h e plan o f this peiio iicnl, ns will be seen by the title, is very com prehensive. It is
conducted with ability, and furnishes an amount o f useful jnatter on all the subjects falling
within its scope, which we should scarcely know where else to find in a single w ork. It
is a work that we should supp se the i itelligent farmer or m echanic could not well afford
to dispense with. E ach w eekly number contains twelve laige quarto pages, the whole
form ing an annual Volume o f m ore than six hundred. T h e price o f the w ork is but two
dollars per annum.
35. — The Errors o f Modern Infidelity Illustrated and Refuted. B y S. M . S c h m
A . M ., Pastor o f the First Lutheran Church, G erm antow n, Pa. )2in o., pp. 4tS0.

u c k e r

,

T h e author o f this treati e traveis over all the ground o f objections ns they have been
urged by ihe abettors o f M odern Infidelity, « f any grade or school, against the Bible,
touching upon every point which h is any very serious bearing on the truthfulness and the
divinity o f a religion which can so powerfully prom ote the welfare i f m ankind. T h ere
is an ingenious chapter, the first in the volum e, which adopts the “ ii fidel ” objections
ogiin st Christ, and goes on to prove, by w ay o f illustration, that no such person as Sffakepeare lived.
3 6. — Charcoal Sketches. S ec nd Series.
By the late J o s e p h N e a l , author o f “ In and
A bou t T o w n ,” ** Peter PI d ly,” etc. Illustrated by D arley : Carey &, Hart.
T h is second series o f Mr. N e a ls agreeable sketches have befVi collected by Mrs. N eal,
since ihe death o f her husband. There is a fi .e vein o f humor and good-natured sarcasm
running through th em ; but “ the profound philosophy and genuine philanthropy which
the-e light and sparkling descriptions cov er,” w ill not perhaps be readily recognized, al­
though read and admired by all.
U " W e have received the February num ber o f De Bow's Commercial Review o f the
South and West, which is well filled with com m ercial, agricultural, and literary matter.
B it we cannot exactly comprehend his flin g at us for inserting a com m unication o f G odek
Gardvvell, sim ply announcing his intention o f publishing a work with the title o f “ Labor
and other C apital: the Rights of each S ecured, and the W ron gs of both Eradicated.” A s
lio dociri tes are set forth or explained in that announcem ent, our worthy contem porary
need entertain no fear that our sym pathies may h ive induced us to publish or endorse the
com m unication o f our c >rresp indent. Mr. De B ow , o f course, has a right to doiibt the
fulfilment o f G ird welt's prom ise, “ alth »ugh,” as he says, “ endorsed (w h a t?) by the
editor o f the Merchants’ M agazine.”
T h e editor o f ihe N e w Orleans R eview ought to
km»w before this that we no not necessarily endorse the statements in any c« m munieation
that appears in our pages, especially when the author’s nam e is annexed. W e thank him ,
how ever, for his appreciation o f our M agazine, and more especially for our character as
a m ost practical and useful m an,” although we cannot exactly com prehend what he
m eans, when he says we “ belong to the new sect o f benevolents.” A fter all, the highest
com plim ent that has been paid us by our contem porary, is the establishment o f a w ork on
the “ principle,” as he announced, i f “ Hunt’s M agazine,” adopting part o f our title—
14 Com m ercial R eview ” — as Ins cognom en.