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MERCHANTS’ MAGAZINE AND COMMERCIAL REVIEW. M A R C H , 1 858. Art. I.— DEBTS AND FINANCES DF THE STATES OF THE UNION. ■WITH REFERENCE TO THEIR GENERAL CONDITION AND PROSPERITY. N FM B E E X. THE W ESTERN STATES— ILLINOIS, ( 2 d a e t i c l e .) [We dow resume the publication of a series of papers, under the same general title prefixed to the present article, written expressly for the Merchants’ Maga zine, by T homas P rentice K ettell, Esq., of New York, now and for several years editor of the U. S. Economist, previously of the Democratic Renew, etc., whose ability, industry, and research, are fully evinced by these and other con tributions to the history of the finances of the United States. As we have here tofore stated, these articles contain the most comprehensive and reliable account of the debts, finances, and resources of the several States, that have ever been collected in a connected and convenient form, and are most valuable for reference, present and future. The first was of an introductory and general character, and related chiefly to the State debts of Europe and America, but also presented particular statistics of the debts of Great Britain, Prance, and the Federal Gov ernment of the United States. The second commenced the account of the in debted States respectively. For convenience of reference, we give the subjoined index to the series, showing the volumes, pages, etc., in which each previous number was published:— Nos. i State debts of Europe and America........... 2. New England States, Maine, and M ass.. . , 3. Middle States, New York............................. 4. “ Pennsylvania......................... . . 5. “ Maryland.............................. 6. Western States, Indiana............................. . “ O hio................................... 7. 8. “ Michigan............................ 9. “ Illinois................................ Volume. XX. Pages. 466-480 677-687 243-256 256-269 481-493 148-163 389-410 181-146 659-671 Number of. Nov., 1847 Dec., 1847 Mar., 1848 Mar., 1849 May, 1849 Aug., 1849 Oct., 1849 Feb., 1850 Dec., 1852 276 Debts and Finances o f the States o f the Union. It will be noticed that the present article and the last in the above list are alike devoted to the State of Illinois. However, the paper now published chiefly consists of statistics of recent years, and hence not embraced in the preceding paper; and whatever portion of the history of the State is reproduced we deem desirable to a satisfactory view of the subject. We would also refer those who may wish to consult our other articles on State debts to the number of the Merchants' Magazine of May, 1857, Vol. xxxvii., pp. 531-517, in which we published the most recent financial accounts of seventeen States, with lists of references to all our previous articles in regard to those States. We shall hereafter publish a similar resume of the financial accounts of most of the States made up for the last fiscal year preceding January 1, 1858, with further lists of references.*— E d. M er. M ag.] T he great State of Illinois is one o f the most remarkable in the Union in regard to its financial history, since with great natural resources it has undergone the greatest vicissitudes. Under the influence o f over wrought credit it was brought to insolvency, from which it has vigorously recovered, until it has become one of the most prosperous, if not, in fact, the most prosperous, of the Union in respect of its finances. The soil o f the State is of the most fertile description, and its situation such as a glance at the map demonstrates to be the most favorable to commerce. It is, as it were, the counterpart of New York, since, like it, it abuts on the great lakes on one side, while on the other it is watered by the largest rivers. In size, Illinois ranks as one of the largest States of the Union, having an area of 55,410 square miles, or 35,462,389 acres. The general disposition of this land by the Federal Government has been as follows :— .................acres 1,001,795 9,060,330 48,989 2,560 311,484 1,833,413 590,915 2,595,000 20,317,903 Area....................... School donations., Military services.. Indian reserves. . . Government seats. Private claims, &c. Swamp lands___ Canal grant, <fcc.... Central Railroad.. Sold....................... Total acres............................................................................. 35,462,389 35,462,389 In 1810, Illinois had a population o f 12,282 souls, of which a number were French settlers on the rich soil of the Illinois River valley. In 1814, the sales of land under the General Government commenced, and they had been annually as follows, do.wn to the close of the last fiscal year:— ACRES LAND SOLD ANNUALLY IN ILLINOIS. ’1R14 1815.............. 1 8 1 6 ............. . . 18 17.............. 1818.............. 1819.............. 1820.............. Acres sold. 119,631 104,255 ^83,908 177,721 220,449 69,027 13,138 Pop’n. 12,282 55,211 Acres sold. 1821........... 1822.............. 1823............. 1824.............. 1825............. 1826.............. 1827.............. 27,264 59,826 41,329 * 81,389 * Governors and other officials of several of the States arc very prompt in forwarding to ua copies of their public documents. We trust that those from whom wo have not recently received such publications, will furnish them to us at an early day.— Editor Merchants’ Magazine. 277 Illinois. Acres sold. 18 28........... 1829........... 1830........... 1831........... 1832........... 1833........... 1834........... 1835........... 18 36........... 18 37........... 1838........... 1839........... 1840........... 1841........... 1842........... 209,892 157,441 256,331 3,088,511 700,691 1,127,403 388,233 298,276 Acres sold. Pop’n. 476,183 1 8 4 3 ........... 18 44........... 1845........... 1846........... 1 8 4 7 ........... 18 48........... 1849........... 1850........... 18 51........... 1852........... 1853........... 18 54........... 1855 ......... 1 8 5 6 ........... 1857........... .. 486,997 481,105 460,967 506,802 899,730 201,000 106,012 233,107 1,279,085 1,098,909 432,925 118,000 165,713 Pop'n. 851,470 1,300,251 The last sale of land was in December, 1856, at the Danville district, 18.000 acres, closing the interest of the Federal Government. The first sales were mostly on the streams and shores, and were but moderate in amount up to 1830, but were then largely developed under the speculations of succeeding years, until the great revulsion of 1837. The efforts then made at reviving the public works and the growing im migration from Europe, sustained the demand for lands until nearly all those available in the hands o f the Federal Government were sold. In 1850, the government still held about 11,000,000 acres of superior lands, which were situated in the interior o f the State, but unavailable because not commanded by any water courses. A t that time it made a grant of 2.595.000 acres to the State of Illinois, to assist in building the Central Railroad. The State made over the grant to a company which under took and completed this work, the effect of which has been to enable the government to sell all its remaining lands in the State o f Illinois, and develop a high degree of prosperity in that region. The State of Illinois, as we have said, is bounded on the northeast by Lake Michigan, on the shore of which is situated the growing city of Chicago. A t one hundred miles distant, in a westerly direction, the Illinois River becomes navigable, and, draining a most fertile region, pours into the Mississippi above the Ohio River, forming an outlet for produce to the ocean via New Orleans. The State of New York, in 1822, conceived the plan of connecting Lake Erie, 350 miles, with the Hudson River by canal, and the situation of Illinois obviously prompted a similar undertaking. Hence, as early as 1823, a board o f commissioners was ap pointed to explore the route, and estimate the cost o f the Illinois and Michigan Canal, 100 miles long. At that time the population of the State was less than 100,000, mostlv without other connection with markets than via New Orleans; with so little resource, therefore, but little was done until the general speculative action in lands commenced in 1830. In 1829, Congres had granted 500,000 acres o f land in aid of the work, the whole cost of which was then estimated at $8,654,337. The work progressed, and there was realized from the land sales up to 1836, $1,395,911, at which time 270.000 acres remained on hand. A t that time, under the spur o f specu lation, which pervaded the whole Union, Illinois embarked largely in banks and internal improvements. It issued $3,000,000 o f bonds for the capital o f banks, the State Bank of Illinois and the Illinois Bank at Shawueetown. It also issued $10,250,000 of bonds for a grand railroad system, of which the Central Road was to divide the State longitudinally, 278 Debts and Finances o f the States o f the Union. and others, to cross the State east and west. The general speculation in lands received a new impulse from these loans and the prospect o f the expenditure which they would involve. The banks largely expanded their loans, mostly in discounts to produce speculators. The State ne gotiated its bonds at great disadvantage, mostly through the United States Bank, in exchange for its notes, and through agents, who failed in debt to it. The chief works undertaken by the State, were the canal, esti mated to cost $8,654,337; the Central Railroad, estimated to cost $3,500,000; the Southern Cross Road, estimated at $1,750,000; the Alton and Terre Haute Road, $1,250,000 ; the Northern Cross, $1,850,000; and the Warsaw and Bloomington Road, $1,050,000. The expenditure on these works, with the $2,000,000 subscription to the State Bank of Illinois, and $1,400,000 to the Illinois Bank o f Shawneetown, formed a State debt of $11,600,000, at the time the great revulsion overtook the commercial world, leaving the State in a deplorable condition. The population was than under 500,000; the public works were all stopped in an unfinished state; the annual expenditure upon them had been one source of prosperity to the people, aided by the operations o f the two great banks, whose movement had been as follow s:— Capital. 1835 1836 1837 1838 1839 ................................. ................................. ....................................... ....................................... ...................................... $228,789 1,904,550 2,371,840 5,179,200 5,435,050 Loans. Specie. Circulat’n. $313,902 2,308,102 4,047,509 4,624,371 6,046,015 $243,223 550,660 708,815 765,418 989,172 $178,810 653,651 1,869,117 2,072,050 3,729,513 The large loans o f these banks had been to a great extent to specu lators in produce, who could not pay, and the banks finally wound up with total loss of capital, leaving the State without currency, as without means o f moving produce to market. The government was without revenue, and the Governor, in his message, called attention to the fact, that there was not sufficient means at the command o f the executive to procure letters from the Post office, or hold evening sessions of the Legis lature. In July, 1841, the State o f Illinois stopped payment on the interest on her public debt. In that year the whole State revenue had been $103,065, and the expenses $179,807 ; for eight years the revenue had been $739,304, and the expenses $1,016,281— excess o f expenses $276,977. The State had emitted various species o f paper which had become much depreciated, and which, being receivable for public dues, deprived it of all available means. The amount of debt reported by the Governor was, in 1844, as follow s:— Canal debt, principal....................................................... “ interest............................................................... $4,741,788 1,148,581 ----------------------------------------- $5,890,364 Internal improvement, including bank deb t..................... 6,712,866 “ “ “ “ interest.. 1,837,151 ---------------------------------------8,550,011 Total debt......................................................... $14,440,381 The canal resources were as follow s:— Amount expended upon the canal, 1836 to 1844, $5,039,284. The canal property was valued as follow s:— 279 Illinois. 230,476 acres of canal land valued $10 per acre ................... 370 lots in Chicago...................................................... valued at 679 “ Lockport........................................................................ 914 “ Ottawa.......................................................................... 1,628 “ L a S a lle......................... 491 “ Joliet and Du Page..................................................... Coal beds and stone quarries....................................................... $2,304,670 350,000 300,000 350,000 500,000 300,000 100,000 $5,204,670 It was estimated that $1,600,000 would complete the canal on what was called the “ shallow cut.” It was proposed to put those lands and the entire canal into the hands o f trustees who should borrow on the whole, as security, the sum needful to complete the work. When that should have been accomplished, to sell the lands necessarily enhanced in value by its operation, and pay— 1st. The prin cipal of that debt and interest until fully paid ; 2d. The interest of bonds held by those who subscribed to the new loans; ^3d. Annual payments upon the interest of bonds held by non-subscribers to the new loan ; 4th. After the interest of all the bonds shall have been paid, to pay dividends upon the principal o f the bonds held by subscribers to loan. When that payment shall have been completed the trust terminates. Without going here into the detail of the movement, we may state that it was success fully carried out, the work completed, and the lands gradually sold, pro ducing a result contained in the following extract from the report o f the trustees, January, 1858. The following table contains a classified schedule o f the entire amount received and expended by the Board of Trustees from the date of the trust in June, 1845, to November 30, 1857 :— Classification. Receipts. $1,569,828 00 2,232 00 3,889,449 83 Expenditure*. 3 00 101,026 08 $2,156,975 1,429,606 89,221 2,142,288 278,357 648,046 62,056 48,568 232,182 11,116 75 21 62 09 04 53 97 32 49 51 T o ta ls ....-.................................................... $7,198,304 79 Aggregate receipts, 1845 to 1857......................................................... “ expenditures........................................ ......................... Balance to credit of fund, November 30th, 1857 ............................. $7,063,369 $7,178,304 7,168,369 109,935 53 79 53 26 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Loan of $1,600,000, principal and interest.. Construction canal and feeders................... Canal lands, sales, protection, <tc................ Interest on registered bonds and scrip...... Principal on registered bonds and scrip ... Maintenance and repairs of canal.............. Tolls, collection, inspection, <fec ................. Canal damages, fiowage, <fcc....................... General expenses and contingencies......... Interest and exchange................................. 7,863 75 1,608,000 88 This is an admirable result. There remains unsold o f the lands 54,573 acres, and 965 town lots. Thus the estimated value o f the lands has been more than attained. The canal has been finished; the “ new loan” is paid off, principal and interest; interest on registered bonds and scrip paid up to the extent of $2,142,288, and $278,357 o f the principal dis charged. The mode o f selling the lands is one-fourth cash, and the balance in three equal annual instalments. There is due o f these instalments $252,195, and the trustees estimate that they will pay this year $350,000 on the principal of the registered bonds. This branch of the State debt has been thus disposed o.f. The financial evils which the State had suffered produced political action upon the State 280 Debts and Finances o f the States o f the Union. Constitution. Accordingly, a new Constitution o f tlie State, which was adopted by the people in 1848, the fifteenth article o f which provides that there shall he annually levied and collected a tax o f two mills, which tax so collected, shall, annually, on the first day of January of each year, be paid pro rata upon the principal of such o f the bonds of the State, other than canal bonds, which shall be presented on that day for the pur pose. In addition a tax of 1J- mills was levied to pay the interest on the public debt. The operation of the 2 mill tax has been very successful. In 1849, it reached $210,805; in 1850, $241,100 ; and in 1851,1275,637. In the last three years the amount of bonds presented, January 1st, and the amount paid from the 2 mill tax, has been as follows:— January, 1856 “ 1857 “ 1858 Bonds pres’d. Paid from 2 mill tax. $1,800,000 1,269,423 1,176,420 $480,000 623,000 629,480 Thus, the amount presented declines, while the fund increases. Many holders have manifested a disinclination to receive this dividend upon the principal. Some for the reason that it makes each bond fractional, and some because they believe the securities will be ultimately paid in full, with full interest, and that consequently they are a good investment, and they prefer to hold them for full payment at maturity. Thus, those two branches of debt have been provided for— the canal debt by the operation of that work, and the improvement debt by the operation of the 2 mill tax for principal, and the mill tax for interest. The State had, besides the canal lands, 252,000 acres, derived from the Federal Government for other purposes, and had also the Springfield and Meredosia Railroad in operation 56 miles. It had also the partly con structed Central Railroad, running from Cairo, the confluence of the Ohio and Mississippi, north 50 miles to Centralia, where it forks, one branch running thence easterly to Chicago, and the other continuing north to Dunleitb, on the Mississippi. In this work the State had expended $3,000,000 for construction when it failed. The rich lauds in the interior o f the State were not readily purchased because they weie not accessible to market. The United States government held 11,000,000 acres in that region which had vainly sought buyers during 20 years. To make that land available the railroad was indispensable. The land districts of Illi nois, through which the Central Road runs, had all been surveyed and been under proclamation an average of 15 years, some o f the land 30 years— that is to say, in all that time any o f the land could have been entered at the government minimum price of $1 25 per acre. The fol lowing quantities in each district, within five miles o f the Central Road, were without buyers :— Kaskaskia, not sold, over 30 years on m arket................. acres Shawneetown, “ 30 years on market........................... Vandalia, “ 25 years on market........................... Danville, “ 19 years on market Dixon, “ 11 years on market........................... 23,681 401,873 344,672 372,702 465,948 Total...............average 15 years on market................... acres 1,608,876 Now, of what benefit was this wild land that had been seeking a market , for over fifteen years, average, without takers, to the government, the State, or the people ? If the Federal Government could not sell it, how could the 281 Illinois. State sell it ? Squatters would not go into it because, even with the prospect of a pre-emption law in their favor, the lands were so secluded from market that there was but little prospectof meeting ultimate payments. The Federal Government had granted at different times to 13 Western and Southwestern States 12,061,000 acres of the land situated within their respective borders, for purposes of internal improvement; and as far as those lands were available, they have been sold and appropriated to important works. In pursuance of this general policy, the government granted to Alabama, to Michigan, and to Illinois, land equal to about 3,240 acres per mile, for tbe construction of the railroad through Illinois to Mobile. This grant was made to the States respectively. Our former article on the debt and finances o f Illinois embraced a synopsis of the act making this grant, which was approved September 30, 1850. See Merchants' Magazine, of December, 1852, vol. xxvii., pp. 665-6. It is very clear that if this land, which had so long been valueless, should become the means of selling the remainder, it would be well be stowed. The Government gave up one-half to make the other valuable. The State could not build the road itself. It had tried once, and failed. But it was of great importance to the State that the lands should pass into the hands of settlers and become taxable. Accordingly, the State passed, February 10th, 1851, a law, o f which a full synopsis was given in the Merchants' Magazine of December, 1852, vol. xxvii., pp. 666-7. On the 22d of March, 1851, the company, by its president, accepted the act. On the same day the Treasurer of the State of Illinois signed a receipt for $200,000 in specie. On the 24th of March the Governor exe cuted the deed of “ all the lands granted by the Goverment of the United States to the State of Illinois; also, the lot o f ground obtained by the State of Illinois within the city Cairo, for a depot; also, the right of way, grading, embankments, excavations, survey, work, materials, profiles, plates, and papers, in anywise appertaining to said railroad and branches.” On the day of the execution o f this deed, the company, by its presi dent, executed a deed of trust to Morris Ketehum, John Moore, and Samuel D. Lockwood, o f the above property, and in addition, the roads that may be built to secure the objects mentioned in section fifteen of the act of the State of Illinois. Congress having donated six sections, o f 640 acres each, on each side of the road,-it follows that the grant is 3,840 acres per mile. The final location of the road determined its length at 676 miles, consequently the aggregate grant is 2,505,800 acres. For that land, patents were issued from the Land-office to the company, and under the trust, these lands were appropriated, and classed, as follows, to secure construction bonds :— $ 6 ..................... 10..................... 15..................... 2 5 ..................... 82,406,000 12,000,000 4.500,n00 2,500,000 2,000,000 acres, to secure construction bonds...................... 250.000 “ in aid of interest fund, at $10..................... 845.000 “ contingent fund, at 10..................... $21,400,000 2,500,000 8,450,000 2,595,000 acres, average present value................................ $27,350,000 400.000 acres, inferior farm lands, at 1,200,000 “ good “ at 300.000 “ superior “ at 100.000 “ town sites, coal beds, &c., at The amount o f construction bonds issued, not over $17,000,000, and 282 Debts and Finances o f the States o f the Union. the works erected by their expenditure, are additional security for their payment. The 2,000,000 acres of land being devoted to the payment of the prin cipal of the bonds, the interest is secured by 250,000 acres set apart for that purpose, the net income o f the road, and the capital stock, since it was estimated that the 817,000,000 o f bonds would suffice to construct the road, and there remained 345,000 acres at the disposal of the company. The provisions of the charter were complied with, and on the finishing o f the first 50 miles o f road, the 8200,000 was returned to the company. The capital of the company was fixed at 817,000,000— 177,000 shares of $100 each ; on this was assessed the 8200,000 deposited with the State Treasurer. O f the whole number of shares there had been issued np to March, 1857, 140,347; on the most of which, 840 per share has been assessed. It was then proposed to increase the number of shares to 255,000, making the nominal capital 825,000,000. The new shares were distributed among the old stockholders. The unissued shares of the capital stock, 29,653, were held to cover optional rights to subscribe conferred upon takers of the free land loan. The bonds issued by the company, on security of the 2,000,000 acres and the road itself, were made payable in 1875; of the whole issue (817,000,000) 84,115,000 b e a r six per cent interest, and $12,885,000 bear seven per cent interest. The amount realized for these, was 814,798,944 ; the company retains 8026,500 on hand. On the expenditure of these bonds, the company made anew loan of 83,000,000 secured upon the unappropriated 345,000 acres, as above. These bonds issued at seventy, realized * 2,079,876 61. The whole issues of the com pany stood, March 1st, 1857, as follows ILLINOIS CENTRAL RAILROAD TO MARCH. Debtor. Permanentexpendit’res. Interest account............. Interest fund................... Total............................. 1857. Creditor. 821,447,949 47 Capital stock...................... $3,258,615 00 1,623,587 61 Constr’n b’ds,($16,373,500) 14,798,944 81 28,852 60 Free land b’ds,($3.000,000) 2,079,876 61 Opt’i. rg’t. scrip. ($872,000) 826,673 75 2,136,229 51 $23,100,389 68 Net floating liabilities.. . . Total............................... $23,100,339 68 The lands held by the trustees for the principal of the construction bonds, for the interest o f the bonds, and for the free land bonds, are sold monthly to actual settlers at a price of 86 a 830 per acre, according to location. On the purchase of the land, the buyer receives a contract for a deed, and pays two years’ interest on the amount at three per cent per annum cash. The principal is paid in four annual instalments. The first two years from the date of his contract, to each annual payment is added one year's interest in advance on the balance of payments. It is agreed, also, that at least one-tenth of the purchase shall be fenced and cultivated each year, so that one-half shall be improved when the last note is due. Thus, if 160 acres are purchased, at an average of 810, the whole pay ments in six years amount to $1,792. On the completion of the last payment, one-half the land being under cultivation, the buyer receives a full deed o f the land from the trustees, who are bound to appropriate the proceeds of payments, each year, to the cancelment of the bonds. The sales have been rapid up to January, 1857. They were as follows :— 283 Illinois. Total principal. Total acres sold. 659,136 09 acres coustruct'n. Ids. fo r .. 153,300 91 “ interest fund “ . . 152,774 01 “ free “ .. $6,846,896 79 879,991 50 1,998,845 04 Cash on principal. Interest received. $11,288 62 $321,360 21 491,926 55 13,812 83 9,329 10 87,531 62 Total865,211 01 acres sold for Add total of town lots sold for $9,725,733 33 $512,544 17 $422,694 66 58,660 55 24,254 31 1,904 27 Grand total of all sales to Jan., 1857......... $9,784,393 88 $536,798 48 $424,598 93 Notes received. Total of all sales. $7,173,611 06 415,175 59 2,127,581 77 $7,506,249 79 920,914 97 2,224,442 49 Total 865,211 01 acres sold for Add total of town lots sold for $9,716,368 42 35,462 58 $10,651,607 25 61,621 16 Grand total of all sales to Jan., 1857 ............... $9,751,831 00 $10,713,228 41 659,136 09 acres construction lands fo r .. 153,300 91 “ interest fund “ 152,774 01 “ free “ The average of sales, per acre, up to January, 1850, were $9 78 ; in the year 1856, $13 52 per acre, and there remained on hand 1,7/9,789 acres, January, 1857, which, at the same valuation, are worth $22,000,000, making $33,000,000 realized from the lands. It is to be observed that some $2,000,000 of bonds have been actually canceled from the cash payments— the first notes not having yet matured. This mode of selling lands, not only places the company in funds to make annual purchases of bonds, but by settling the lands it furnishes freight and traffic to the road. The lands of the company lie along its route 700 miles through one of the richest countries in the world. Its position, being soutli of Michigan and Wisconsin, insures to it a better and softer climate, of which the farmer feels practically the benefit, in shortening by a month the season for fod dering cattle, and in the security of the corn crops from those frosts, which, borne on the winds that sweep the lakes, so often ‘‘ kill o u t” the harvests of the Northern States. The broad and rich prairie lands afford advantages which the settlers in the wooded districts of other States do not appreciate, and which, indeed, are not brought out fully without the operation of internal works of improvement, which supply all that nature lias withheld. It is seldom that any spot of land contains all the gifts of Providence. It is there that she has spread, as a lawn, the richest lands, charged with more fuel and water than almost any other section. Her streams flow gently through the rich alluvion, and Mr. Charles Lyell states:— “ There is more good bituminous coal in Illinois than in England, and it is far more easily mined and laid out ready for transit than there.” There is an absence of timber, which has been considered by immigrants a drawback. Experience has, however, shown the contrary. Those who have settled the timbered lands o f Ohio and Pennsylvania, can testify to the weary life-time o f labor required to clear those tracts of stumps, and to wrench from the frowning forest the breadth o f a good farm for culti vation. From this it will be observed that timber is the great nuisance upon fresh land, beyond what is wanted for posts, rails, and buildings. Now, all the head waters of the Mississippi and the Missouri command limitless timber lands. From the falls of St. Anthony alone, more timber can be 284 Debts and Finances o f the States o f the Union. delivered than would supply an empire. That timber rafted to Cairo, will supply— over tne great Central Road, which, running north one hun dred and seventeen miles, then forks, and traverses the whole State in two lines, in a convenient form, all the wants of the farmer, far cheaper than they could cut it themselves, without leaving a stump in their way. The same railroad which brings their timber carries away their produce. Those lands owned by the company, and all selected from the best in the State for farming purposes, are equal, in extent, to the whole State o f Connecticut, and are hourly improving, in value, through the increasing population in a juvenile State, where the only land now in first hands, is that held by the company. Each new settler not only pays more than the face of the bonds on taking possession, but he commences an operation which insures to the road business for all future time. The inexhaustible supplies of coal not only insure to the company the cheapest fuel for working their engines, a number of which, driven by coal, being already in operation, but ensures an ample supply of fuel through the whole region. Under these circumstances, it is certain that one-half the com pany lands being sold for a sum equal to three-fourths the whole cost of the work, the remaining portion in view o f the daily enhancing value of land in that region, will amply meet the remaining acquirements. Thus, the cost of the road, as above, was $23,100,339. The sales o f lands to September 1st, 1857, were as follow s:— To January, 1857...................... January to September, 1857... Total.............. On hand, September 1st. Total..................................... 865,211 acres for 256,629 “ $10,713,228 3,674,491 1,131,840 1,463,160 estimate $14,387,719 $18,400,000 2,595,090 $32,787,719 This gives a value of nine millions more than the cost of the road. The great prosperity with which the State of Illinois has been endowed, from the operation o f the canal and the Central Railroad, has been enhanc ed by the other railroads in operation in the State, reacts reciprocally upon the works which had produced it, and at this moment the demand for land in that region is very active. The population of the interior has increased at a very rapid rate along the line of the railroads. Thus, that of the thirteen counties through which the Galena and Chicago Railroad runs due west, was as follows :— 1840, 46,992; in 1850, 178,417; in 1855, 297,974— that is to say, one-fourth o f the whole increase in the one hundred counties o f the State, during five years, was in these thirteen counties. The Central Railroad has been operating less than two years, yet the concentration of population upon its line is greater than the large one indicated above. If wo take six counties on the Chicago branch, in the heart of the State, we may ob serve the increase:— POPULATION OF SIX INTERNAL COUNTIES. 1X40. 1845. 1850. M’Lean.......................................... De Witt........................................ Macon........................................... Platt............................................. Champaign................................... Livingston.................................... 6,565 3,247 8,039 none 1,475 759 6,904 3,316 2,729 1,037 2,041 1,000 10,163 5,002 3,988 1,606 2,649 1,552 19,578 8,508 8,865 3,053 6,666 4,606 T o ta ls .................................. 15,085 17,217 24,960 50,976 1855. 285 Illinois. Thus the population in those counties has more than doubled in the last five years, and has only within a short time had an outlet to market over the Central Railroad, and this outlet is all that is required. Fuel, brick, clay, and limestone, abound in all the region, and the railroad, as it were, puts those necessaries into circulation. It follows that land has rapidly risen in those counties. The progress o f the State, may, in some degree, be illustrated as follows :— Population. 1840........................... 1845........................... 18 50............. ............ 1855........................... Miles of railroad. 56 56 2,761 Taxable property. $69,841,419 82,327,105 105,432,752 334,398,425 Thus, since the failure of the State in 1840, its population has tripled— it has acquired 2,700 miles o f railroad which cost $81,000,000, of capital brought into the State from Europe and the Eastern States, while its assessed property has increased fivd times its value, and its debt greatly diminished. Although its old chartered banks went out of existence in the collapse of 1839—40, the state adopted a general banking law similar to that of the State of New York, under which its banking operation has progressed as follows:— No. b’ks. Capital. Loans. Stocks. Specie. 1 8 5 1 .. . none ...................................................... $419,371 1 8 5 3 .. . 23 $1,702,456 $386,404 $1,780,617 759,474 1 8 5 6 .. . 363,840,946337,675 3,777,676 1 8 5 8 .. . 45 6,098,152 7,573,547 6,895,974 676,117 Circulation. Deposits. $1,351,780 3,420,985 1,146,682 $522,476 1,267,230 1,146,682 It will be observed that these are mostly banks of circulation, whose notes are secured by the deposit o f State stocks, of which the following were the character, January 1st, 1858 :— ILLINOIS BANKING BASIS— JANUARY, 1858. Character of securities. Missouri State 6s....................... Virginia State 6s....................... Louisiana State 6s..................... Tennessee State 6s.................... South Carolina State 6s........... South Carolina 6s....................... Georgia State 6s......................... Ohio State 6 s............................. Kentucky State 6s.................... Illinois State 6s......................... Illinois non-interest................... Amount. 13,817,0110 720.000 369.000 511.000 248.000 100.000 86,500 179,281 3.000 623,007 323,236 Value. 80 83 83 84 89 100 100 102 100 95 75 $6,895,974 Total...................................................... Total circulation outstanding January 1st, 1858... Excess of securities over circulation.................................................. To which should be added the semi-annual interest on the Missouri bonds, retained by the auditor............................................................... Making total excess o f securities. Equal to. $3,051,600 641,620 303,780 429,244 220,720 100,000 86,600 183,815 19,000 591,857 242,427 $5,867,591 5,835,574 $31,945 114,510 $146,455 The amount of circulation delivered to the banks, in return for the se curities lodged, does not represent the amount in the hands of the pub lic, since the bdnks cannot always keep out the whole amount. It is to 28(5 M on ey and Banking. be observed that Illinios banks are mostly those o f circulation. The capital-is entirely invested in stocks, which are pledged with the State officer for circulating notes. These notes are loaned in various ways. The revenue o f the State o f Illinois being now abundant for all its wants, its lands in process o f rapid settlement, having a good provision o f railroads, and its debt diminishing under the operation o f adequate funds, its future is one o f bright promise, and the public works within its borders will partake in its growing prosperity. Art. 11.— MONEY AND BANKING* To F k e e m a n H unt , Editor o f the Merchants' Magazine : — D ear S ir :— It is sometimes refreshing and satisfactory, for the pioneer o f a reformatory movement, to look back and to count the steps that he has gained, in the slow, but onward progress of his cause. Most reforms move slowly at first, but if they are founded in truth, their final triumph is certain. It is now nearly five years since I had the honor to contribute an article, relating to this subject, to the Merchants' Magazine, but since that time it has been discussed from every point by many able and in telligent writers, so “ that he that runs may read.” It is true, none have advocated exactly the same doctrines as myself, but still progress has been made, in the acknowledgement, by more than one writer, of the important principle of depredation ; the marvel is, that its tendency and effect had never before been perceived. The currency is now no longer a mystery, but a matter that all may understand who will take the trouble to read the Merchants' Magazine. I have been led into these desultory remarks from a casual glance over your pages upon this subject, since I last wrote ; congratulating myself, as a party concerned in.the warfare, upon the per ceptible progress we have made. I must now attend to the subject, and shall endeavor to discuss some points which may have escaped the notice of others. The credit and banking system, within the last few years, has been spreading all over Europe— France, Russia, and Germany; and, in fact, every other country has been extending its trading and monetary institu tions. The late crisis has consequently been more extensive and severe than usual, and its circling wave may be longer before it reaches its final destination. England appears to have suffered as much, or more, than any other nation, notwithstanding the bank monopoly and the large amount of specie in her currency. The evil lies in the unlimited increase o f money, and can never be eradicated under the present system of cur rency. It matters little whether the increase be in gold or in paper. In the case o f England the limited amount o f paper in her currency did not save her from difficult}^ The deposit system, which like the issue of bank notes, operates to pile debt upon debt, with every new loan increasing prices, and, o f course, expelling the precious metals by depreciation; leaving nothing behind but a stupendous mass o f obligations that can * Previous articles will be found in vol. 29, page 577; vol. 81, page 188; vol. 83, page 541; vol. 34, page 185. M oney and Banking. 287 never be discharged, but at last topples down, overwhelming alike the reckless and prudent, the honest and dishonest, in one common ruin. .And yet, notwithstanding, it is said that some o f the English banks that have done an extensive business upon deposits are prosperous; but that remains to be seen. The Western Bank o f Scotland had only seven millions of deposits, and she has sunk to rise no more, and many others of less note will be found in the same category. Some of them had sus tained no run, but have fallen from their own insanity— the inconverti bility of their own and customers’ investments, or in other words, the im possibility of obtaining the same amount in cash for them, which had been paid in credit. Thus, the system defeats itself—swallows up prin ciple and interest, and causes just the same kind of evils as an unlimited issue of paper— stops the wheels o f honest industry, produces frauds, bubble companies, and accommodation paper, and every other meanness that combined selfishness and necessity can descend to. Therefore, whether we look at the banking system politically or morally we see nothing but ev il; even the small savings of the working classes are evaporated, if I may be allowed the term, and made into an engine o f general oppression. All deposits should be made for safe keeping, and should be paid fo r if necessary, but never re-issued, as no profits can be derived from deprecia tion. Therefore, there can be no doubt that money is but “ dead capital,” and the less society uses of it the better. O f course, like all other com modities there must be a convenient quantity, but when that is obtained its increase should not go beyond the rate of increase o f other capital— bank facilities and gold getting in an opulent and industrious country are only sources of derangement, debt, and poverty. Dr. Smith was perfectly correct when he said, “ the cheapness of gold and silver discourages both the agriculture and manufactures of Spain and Portugal,” but he did not very plainly show' the mode of operation. The Dr. admits depreciation of the precious metals in this instance, though he denies it in others, but thinks it was caused by their exportation being taxed or prohibited. In this he was evidently wrong, as he was in some other instances. Prohibi tion would no doubt make exportation difficult, and cause greater fluctua tion in prices, which is always a source of evil; but the true cause o f depreciation was the natural and necessary law of redundancy. "Whenever this happens the article must depreciate in relative value, that is, measured by other things. Thus, Spain would do as we have done for the last nine years, she would sell her agricultural and manufacturing produce at the price of gold they would command in- other countries, while she would buy at the depreciated price whatever she imported. Therefore, the gold exported from Spain “ would be presented to the rest o f the world gratuitously,” and the maintainance o f the labor o f gold digging would rest as a tax, to be paid by the Spanish community. This state o f things, as has been intimated, is exactly what our statistics will prove that we have been doing for the last nine years. The price o f imports has in creased nearly one hundred and fifty per cent, while the price of exports has increased less than one hundred and twenty-five, showing a balance of twenty-five per cent against us in the nine years, which either is, or has to be, paid in specie or bullion. But, sir, we have been seriously and deliberately told that the precious metals will not depreciate. In other words, “ it is nut possible for them to become superabundant,” “ that the melting-pot of the goldsmith, or subjection to the gold-beater’s hammer, I 288 M oney and Banking. is the ultimate destination o f the whole o f the vast products of Siberia, California, and Australia.” Now, from what we have said it will be per ceived that we cannot adopt this opinion, but we have other reasons be sides those already stated. W e have perceived that the faster money in creases the scarcer and dearer it becomes, with respect to its use as money. As a proof o f this, we may state, if such proof be required, that the jointstock banks have had a meeting in London since the panic, at which a resolution was passed to reduce the interest on deposits to six per cent. How high it has been is not exactly stated. What chance has “ the melting-pot and the gold-beater’s hammer” under these circumstances ? One thing is certain, that they have not had a relative chance according to the production of gold, either here or in England. Cortes and Pizarro would never have found such heaps of gold and silver ornaments which stimulated the avarice of the Spaniards in Mexico and Peru, if either country had had a currency of the precious metals. And yet it is said they were both in the most prosperous condition— abounding in wealth of all descriptions— the one with a consumable commodity for a currency, and the other without any. The development o f commerce had not pro duced this social evil o f a fixed standard o f value, which has always been a source of demoralization and oppression among European* nations. But to return. Mr Carey found it equally difficult to maintain the defunct doctrines of the balance o f trade and the principle o f protection, if he were to admit the general depreciation o f the precious metals, as Dr. Smith did to up hold his doctrine of the beneficial effects of the issues o f bank paper, if he had to make the same admission. The Dr. says upon this subject, “ the increase of paper money, it has been said, by augmenting the quantity, and consequently diminishing the value, of the whole currency, necessarily augments the money price o f commodities.” But he thought this was not the case, because when there was very little else than paper money in Scotland, the prices of provisions bore about the same proportion to those of England as before the multiplication of banking companies. But he admitted that when “ Mr. Hume published his Political Discourses, soon after the great multiplication o f paper money in Scotland, there was a very sensible rise in the price of provisions, owing probably,” as he said, “ to the badness o f the seasons, and not to the multiplication of paper money.” He also had to admit in another place, that if more money were forced into the channels o f circulation than was sufficient to keep prices at their natural level it must overflow, and “ would be sent abroad in order to seek that profitable employment which it could not find at home.” Dr. Smith, like Mr. Carey, seems to have forgotten, or not to have noticed, that the only way in which the surplus would be sent abroad was by in creasing the price of imports relatively more than the price of exports. To such straits are the learned sometimes driven to uphold a fallacious doc trine. But Mr. Carey, as I have intimated above, attempts to revive the old doctrine of protection as a remedy for present financial evils, but it has been so thoroughly exploded years ago that there is hardly sufficient excuse for saying a word upon the subject. W e will, however, sav in * The kings o f France and of England, from the time o f Edward I , were in the habit o f depreCiatinff the value of their coins, by alloy and otherwise. Henry V I I , following the example o f his predecessors, reduced his coin considerably, and enacted a law making it death to refuse it, and his son, Hom y VIII., improved upon his father’s policy. Money and Banking. 289 passings that if a tariff were enacted sufficiently high to stop the entrance for a time of foreign goods, the price o f those goods would inevitably rise high enough to pay the duty and the usual p rice; then the stream would flow over the dam-head as before, but consumption would diminish to the extent of the tax, as all taxes must be paid by the consumer; and the general rate of profit upon capital would decrease, while under ordinary circumstances we should import a certain quantity of the precious metals from other countries, sufficient to be employed in the difference of price caused by the increased tax. Therefore, the prices of our imports would be increased and the prices of our exports decreased, and the foreign merchant and manufacturer would obtain the same amount o f profit as before, lacking that of the decreased consumption; and that is the only way in which the foreigner would be affected. Under present circum stances we might retain some of the gold we shall export, instead of im porting the amount from any other source. Other moral evils might ac crue; but by no possibility could the protected country be benefited. The argument may be put into a nutshell— no country can gain by producing that for which other countries have superior facilities. And it is both useless and ridiculous to group mere contemporary facts together, having no necessary relation, and ringing changes continually upon the words value, utility, and price, as no three words can be more distinct in meaning. It will deceive no one having any pretentions to science. But to return to our subject. The charter o f the Bank o f France has lately been ex tended for another thirty years, its capital doubled, and other objection able privileges granted. Ten years ago it was not allowed to issue notes o f a less denomination than five hundred francs, but under the new charter this privilege extends as low as fifty francs, and I am not quite sure that it is not twenty-five. Louis Napoleon, like the British government, in the case of the Bank of England, pockets the proceeds, but like the Regent o f Royal Bank celebrity, he may awake some fine morning and find his money turned to rags—-finance will be found less plastic than politics. Foreseeing these difficulties, a French journalist lately proposed a banking alliance, to lessen, if possible, the intensity of any monetary crisis which might happen. He proposed that the leading banks o f Europe should begin by taking each other’s paper and advising upon financial difficulties, but it seems he did not offer the right hand of fellowship to the American banks. In this he was mean and uncharitable, and showed the narrowness of his views— otherwise the scheme was worthy o f John Law himself; but its explosion would certainly have rung the death knell of banking on that side the Atlantic. The national banks and some others of note may weaken the storm o f the present crisis, but how long they will escape the inevitable fate of all banks is only a question o f time. The Bank of France has been shinning along for the last two years, some times in a desperate condition, and she will hardly be more stable under her new responsibilities and privileges. But to come nearer home. Our banking system, notwithstanding all the care and ingenuity dis played in its construction by the currency doctors, has again arrived at the condition of confessed and absolute inconvertibility. Within the last ten years banks have doubled in number, and still vve see notices o f new applications for charters. Every means have been used to push out their paper and to obtain deposits to re-issue, until they had not five per cent of specie upon the average to meet their liabilities. Suspension, thereVOL. x x x v i i i .— n o . in . 19 290 M oney and Banking. fore, was the only remedy, and the people took it very kindly— as a mere matter of course— not only so, but vigilance committees in a great many instances, said to be voluntary, undertook to protect the banks from outside intruders, who might be so unreasonable as to expect them to pay specie for their notes. It is pretty well understoood that fifty per cent will never be realized upon Western debts, and what would have been the consequence if suspension had not taken place we can only imagine. Some public writers, however, have said, in comparison with England, that our banking system is the sounder o f the two, but this we cannot allow, for notwithstanding, England may have suffered more from failures at present, if we had been obliged to come down to specie prices, no doubt, but seventy-five per cent o f our debts must have remained unpaid, and what will yet be done in this respect must depend upon circumstances over which we can have no control— the operation o f the crisis in other countries. Therefore, under all circumstances suspension was the only means of comparative safety, as the banks and the community were both embarked in one boat; but are we to be doomed continually to stand upon the brink of a commercial volcano, the explosion of which at any moment may be occasioned by the failure of a bubble company, the loss of a ship, or the failure of a crop ? It is time that these questions were gravely considered. W e have more than doubled our currency within the last ten years, consequently our capital and business transactions have also nominally doubled! Dr. M’Cay, o f South Carolina College, in a very able article, in this Magazine, December, 1856, satisfactorily proved that prices up to that period had increased from thirty-five to forty per cent since we had been receiving supplies o f gold from California; but our currency increased considerably after that, and his calculation also was extremely moderate. And yet in the same number o f years, accord ing to the last census, our domestic products had only increased at the utmost possible calculation, twenty per cent. Thus, we have created within the last ten years a surplus currency o f eighty per cent, that is, eighty per cent beyond the probable increase of other capital. But other countries had also been engaged in the same profitless operation as our selves, and to the same extent, or the re-action must have come much earlier. Now, the question naturally arises, who has been benefited by this unnecessary addition to the currency, which must have made every individual poorer, excepting one class— the money makers. Yes, the bankers and .the gold-getters have pocketed the whole of this increase, abstracted from the rate of profit upon capital engaged in other pursuits. But lest this statement should not convey an adequate idea o f the magni tude of the evil, or of the amount o f taxation we have suffered, we will take the liberty of extending our observations a little further. The bank ing deposits have increased, within the time specified, at least one hun dred and fifty per cent, discounts and loans have also more than doubled, therefore, at a moderate calculation, we may say that the currency has increased four hundred millions of dollars. W e may talk of the Missis sippi Scheme and South Sea Bubble, but where shall we find another such gratuitous transfer of property? If the system could possibly continue the banks would absorb all the circulating capital o f the country, in fact, there seems to be no apparent reason why they should not, in time, swallow up the whole, except the necessary wages and taxes. W e have Spain for an example— there is only one alternative— annihilate the present monetary M oney and Banking. 291 system, or it will annihilate the State. W e have always been taught that natural debts were an unmitigated evil, and it has hitherto been the pride of the American system to eschew them ; but what difference is there whether the debt be a public one or a private one? W e have now about twelve hundred millions o f commercial debt, seven owing to the banks, and about four-and-a-half to foreigners, besides private debts incal culable. This is a national debt without a question, which will not be paid off for the present. It is a fallacy to assume that we have grown so extremely rich within the last few years as taxable statistics have made us, while the statistics of the census shows that production has compara tively decreased. If we only multiply by two for the next ten years, as we have done for the past, our riches will, o f course, increase in the same ratio, counted in paper dollars. Thus, the whole is a gigantic humbug, and yet no one is to blame. The people, in their ignorance, under blind political and economical leaders, have politely given the bankers and gGld-getters leave to pick their pockets, under the idea that they (them selves) should be benefited. The impetus given to the increase of money, by the discoveries of gold all over the world, has introduced a new era in finance, which must evoke new principles. The Bank of England has found herself checkmated by the joint-stock banks, notwithstanding her monopoly, and was only saved from suspension by the interference o f the government, and yet there seems to be no complaints of imprudence in her management. How long the manufacturers o f Great Britain will be enabled to compete with those of other countries under these new cir cumstances remains to be seen. There is one thing in their favor, how ever— other countries are smitten with the same virulent disease— that of money making. Joint-stock companies, as before stated, have been formed, and are forming, all over Europe, even in Turkey. The Em peror of France has decided to push gold-getting on the Senegal, so that he will not be behind his English neighbors in making money and sup porting the bank. The production o f gold fofr the last year is set down at two hundred millions of dollars, and, therefore, at a moderate calculation the amountof gold thrown upon the markets of the world for the next decade, will ex ceed two thousand millions. It has also been stated by a legislative com mittee in South Australia that the auriferous soils o f that region cannot be exhausted in two thousand years. What then will be the consequence of pursuing our present system with regard to money ? In passing further over these circumstances it is hardly necessary to say that the cause of the “ flight of the precious metals to the East,” about which we have lately heard such lugubrious lamentations, is sufficiently explained— money, like water, will find the level, and the more there is poured into the reservoir, the more it will spread over the surface, until the stream be stopped at its fountain. W e have now slightly reviewed some o f the causes of the crisis, and of the evils which a continuance in our present course will occasion, and have only to offer the remedy recommended in former articles; that is, to force the withdrawal o f bank notes gradually, abolish the standard o f value, and in the meantime, issue as many treasury notes as can be conveniently employed in the operation of government and the domestic exchanges. Under these circumstances the currency could never be increased beyond the rate of increase of other capital; and when the increased volume of commerce and taxation required an increase 292 Garblings: or Commercial Commodities Characterized. o f treasury notes, the government could reduce so much o f taxes and issue the required quantity of notes, which would be so much saved to the people. A ll governments could do the same, and adopt the dollar as a mere unit of accounts, without a fixed amount of gold or silver attached, and all trading transactions would then he balanced by gold and silver paid according to weight and price, the same as all other commodities. Banks would then be unnecessary. I remain, dear sir, yours truly, E. SUIXF.Y. Art. III.— GARBLINGS: OR, COMMERCIAL COMMODITIES CHARACTERIZED. NUM BER ALC O H O LIC V n .* j LIQUORS. W INE---- (CONCLUDED.) M IX T U R E S — A D U L T B R A T IO N 8 — P A T E N T -O F F I C E D IR E C T IO N S — L I Q U O R D E A L E R S ’ G U I D E — C O U N T E R F E IT S — C I D E R — A L C O H O L — P E R C E N T O F A L C O H O L IN D IF F E R E N T W I N E S — D E T E C T IO N O F C O U N T E R F E IT S .— S U G A R A N D M OLASSES— P E R C E N T O F 8 U G A R IN D IF F E R E N T W IN K S — C R E A M OF T A R T A R — T A R T A R IC A C ID — T A N N I N .— C O L O R I N G M A T T E R S — J E R U P IG A — P O K E -B E R R I E S — R E D P O P P I E S — P R I V E T -B K R R I E S — M Y R T L E - B E R R I E S — E L D E R - B E R R I E S — B R A Z I L - W O O D - I N D I A - W O O D - T E S T F O R C O L O R IN G A D U L T E R A T I O N S .— L E A D — C O P P E R — Z IN C — A L U M — C O P P E R A S — P O T A 8 8 A — S O D A — L I M E — P L A S T E R O F P A R I S — P L A S T E R A G E O F W I N E S — S U L P H U R IC A C I D , E T C ., W I T H T H E I R T E S T *— C O N S T I T U T I O N A L E F F E C T S . Mixtures.— According to the laws o f France, which country has paid more attention to this subject than all the world besides, a wine which re sults from the mixture o f other pure wine is not an adulteration. That good wine may result from the mixture o f a strong wine with weak ; one that is light with one that has more b od y ; one that is tart with one that is rich and sweet; one that is wanting in coloring matter with one that has too much, and so on. It was the primitive practice for manufacturers to mix the different va rieties of grapes and must before fermentation, in order to produce a par ticular quality of wine; and in the production of the best wines this practice still holds. It, however, requires a great degree of experience to successfully practice the process. The best unmixed wine made in the United States is made in the county of Los Angelos, California. The vine was introduced into that county about a century and a half ago, by cuttings from Madeira, and the flavor of the grape, and aroma o f the wine produced from it, are both maintained in the highest degree. It therefore requires no “ pure ju ic e ” of foreign production to give it an acceptable zest. Other species of grape also flourish there, and the soil, climate, and labor, all seem to combine to place it at the head o f our wine-growing districts. ♦For number i , see Merchants’ Magazine for July, 1857, (vol. xxxvii., pp. 19-23;) for number 1!., see same for August, (pp. 166-171;) for number iii., see same for September, (pp. 298-303;) for ■umber iv., see same for November, (pp. 542-654;) for number v., see same for January, 1858, (vol. xxxviii., pp. 48-50; for number vi., see same for February, (pp. 175-183.) Garblings: or, Commercial Commodities Characterized. 298 Other wines, made in the United States, generally have added to them certain proportions o f the qualities they are intended to represent. These may be considered pure mixed wines. Longworth, the great pioneer in American wine-making, has succeeded in producing wine o f undoubted purity, equal to some o f the finest foreign ; but, as a general thing, it has not the flavor o f the chief grape used in its production. Adulteration.— W ine is the product of grape juice only. To manufac ture, or to sell, or to offer for sale, any other substance under the name of wine, is an adulteration. But to such a pass has the adulteration o f liquor come in the United States, that, to mend the condition of deficient must, the addition of certain substances is advocated with the authority o f a State paper! In the Agricultural Report of the Patent-office for 18o6, we are informed that, “ sugar, water, brandy, lime, tar, sweet-scented sub stances, &c., may be introduced to advantage before fermentation, so as to incorporate well that which can never be done after it. That whenever strength is required in wine, the brandy should be put into the must be fore fermentation, with which it is incorporated and modified, the alcohol contained in it being always so chemically combined as to be harmless / ” Now, everybody knows that both grapes and must are subject to certain defects or diseases, which render them unfit for the production of potable wine, and no amount of correctives can make them capable o f producing it. To advocate, therefore, that the conditions of must, necessary for the production of pure wine, can be made up of materials derived from any other material than grape juice, either in its natural or fermented state, is a mischievous tendency to adulteration. The usual results o f defective grapes or must are— 1. Excessive astringency. This is occasioned by an abortive crop, or premature ripening of the grapes, from peculiarity of season. 2. Acidity, which depends upon the greenness of the grapes, or acetous fermentation o f the must or wine. 3. Ropiness or greasiness, which is owing to the deficiency o f tannin. 4. Mustiness, a condition usually derived from the cask, bottle, or cork. 5. Turned, or le poux, a disease by which wine loses its acidity, and changes to a dark color, and sometimes takes on a putrid fermentation. 6. Bitterness. This condition sometimes takes place without known cause, in wine made o f must possessing all the requisite qualities; in which case it usually ceases after a short time, and after a new fermenta tion the quality of the wine is re-established. I. Excess or absence of color, either of which may result from the same causes as astringency or acidity. Other changes of less moment may take place from a variety o f causes. Wine, in any of these conditions, is generally susceptible of the acetous fermentation, by which it can be converted into vinegar. The distribution o f wines made of diseased grapes, or from must o f bad quality, or wine in a diseased condition from whatever cause, whether “ correctives ” have been applied or not, is a vile disregard o f public health, and should be placed on the same footing as the distribution o f other stale and diseased provisions; and the advocacy o f their use is a reproach to the true state of agricultural progress in the United States. One of the prime objects o f the Patent-office reports should be the dis couragement of adulteration under whatever phase. But in the one above referred to, that which of all others it is most difficult to detect, is incul 294 Garblings : or, Commercial Commodities Characterized. cated and taught as a species of laudable ingenuity. It is the legitimate forerunner o f the “ Bordeaux Wine and Liquor Dealers’ Guide : a Treatise on the Manufacture and Adulteration o f Liquors, by a Practical Liquor Manufacturer,” lately “ published for the author” in N e w York, which purports to be the “ result o f many years' practice o f an entirely new sys tem of manufacturing and adulterating liquors!” Experienced adulteraters and counterfeiters generally base their opera tions upon certain known qualities which pertain to the substance to be imitated. • Water, alcohol, extractive matter, bitartrate o f potassa, and inorganic mineral salts, are essential principles to all wines. Whatever may be the other qualities, these principles at least must be present, and it is by vary ing their proportions, and adding other things, that the different varieties o f wine are counterfeited. It is by the variable proportions of the ele mentary principles that different qualities o f wine are distinguished, and as these principles are all miscible with, as well as constituents of, wine in every proportion, it is manifest that o f all substances added to wine, they are the most difficult of detection. Counterfeit wines.— For this purpose cider is generally used. Perry, which has similar properties, is sometimes substituted. According to the “ Wine and Liquor Dealers’ Guide,” cider, prepared as a basis for every variety of wine, consists of— cider, forty gallons; pure spirits, under proof, three gallons ; sugar or syrup, three pounds; and of crude tartar, half a pound. These should be well stirred together in a full cask, which should be left with the bung open, and exposed to the necessary degree of temperature to produce fermentation ; after which it is racked off, fined, &c., and kept for use. Thus prepared, and mixed with water, sugar, honey, tartaric acid, lemon juice, cream of tartar, almond oil, fresh grape juice, wine, alcohol, and yeast, it is used for imitating al most every variety o f wine in commerce. The finest imitation of Cham pagne is said to be made of equal parts of native Catawba and prepared cider, with a little water, lemon juice, sugar, and tartaric acid. Cham pagne is also extensively imitated by charging low-priced still wines with carbonic acid. This is done by machinery adapted to the purpose, similar to that used for charging soda water. The prestige of pure native wines, derived from the spotless name of Longworth, has lately received a severe check by the refusal o f certain wine merchants in Cincinnati to have their wines inspected. This cir cumstance is virtual acknowledgement of adulteration; and it is well known that the Cincinnati wine dealers are, to an equal extent, dealers in such crude materials as constitute a well-assorted stock, according to the “ Wine and Liquor Dealers’ Guide.” Alcohol.— The exact amount of alcohol in any given sample o f wine may be ascertained by evaporation into a receiver, and testing the fluid so collected by an alcoholometer, or by the specific-gravity bottle— the chief care in the use of these instruments being a due regard to temper ature, which should be 60° F. The quantity of alcohol by measure in different wines ranges from 23.83 to 6.66 per cent— port being about half as strong as Scotch whisky, and the weak red wines of France about as strong as Scotch ale. The following table shows the proportion of alcohol, by measure, in the chief varieties o f wine:— Garllings; or, Commercial Commodities Characterized. Marsala................... Lissa........................ Raisin....................... Madeira................... Port......................... Teneriffe.................. Cape Madeira......... Constantia.,........... Lachry ma Cbristi. . Vidonia................... Sherry..................... Malaga, old............. Lisbon..................... Carcabello.............. Bucellas................... Cape Muscat.......... Rouissillon.............. Johannisberg........ 15 Malmsey, Madeira.. Malaga, common. . . Sauterne................ Saint-George........... Barsac, 1st growth. Baixas...................... Cbiraz...................... 2S.83 28.37 23.11 20.50 20. 18.20 18.87 18.17 18.12 17.71 17.63 17.42 17.42 17.17 17.01 16.79 16.68 to 16 16. 15. 16. 15. 14.76 14.50 14.27 Syracuse.................. 14.06 Tavel....................... 14. Lunel........................ 13.70 N ice......................... 13.46 Burgundy...............12 to 14 Bordeaux, claret ex. to London.......... 13 to 17 Tent......................... 13. Champagne, still.. . 12.77 A lica n te................. 12.69 Barsac, 2d growth.. 12.65 Vin de g ra v e ......... 12.30 Tinto......................... 12.24 Frontignac............. 11.80 Champagne, sp’kl’g. 1177 Preignac.................. 11.50 Hermitage, red . . . 11.38 Cote R o t ie ............. 11.30 Barsac, 3d growth.. 11.25 V o ln a y ................... 11. Rudenheimer........ 11. Weinheim............... 11. E isler..................... 11. Saint-Christol.......... 11. Pronsac.................... 10.75 293 Hohenheim.............. 10.71 L oiret...................... 10.66 Steinberg, 1st qual. 10.17 Saint-Seurin............ 10.15 Bordeaux, dom’stic.,10 to 11 Saint-Estephe......... 9.75 Margaux.................. 9.75 Chateau Latour.. . . 9.33 Tokay....................... 9.10 Cider, stron g........ 9.10 Chateau-Haut Brion 9. W lesloch................. 9. Sauveterre............. 8.76 Lafitte..................... 8.70 Saint-Lopbes......... 8.50 8.25 Merignac................. Duchatel St. Julien. 8. Saint-Macaire.......... 7.90 Macon, r e d ............. 7.66 Orleans, r e d ........... 7. P e r r y ..................... 6.78 Mead....................... 6.70 Saint-Aignau........ 6.66 Cider, n e w ............. 4. These estimates are deduced from French analyses, and are considerably below those furnished by wines prepared for export, or those generally found in the English and American markets. English port, Madeira, and sherry contain from 21 to 26 per cent of alcohol, and claret from 13 to 17. Other wines for the English market are branched in a proportionate ratio. When brandy or alcohol is added to wine it remains in a free state— does not combine with the other ingredients. To obviate this, it is the custom of adulteraters to excite a new fermentation, in order, as it is supposed, to effect a thorough assimilation. This operation is called “ fretting in.” Various means have been instituted in order to ascertain whether wine contains other water, alcohol, extractive, bitartrate of potassa, and salts, than are natural to the grape; but, as already stated, owing to their va riable proportions, no degree of manipulation, however accurate, can, within certain limits, demonstrate whether these principles are natural to the grape or added by the hand of man. Evaporation, distillation, &c., may, demonstrate the quantity o f any one, or all of them, contained in a given sample, but some of them exist naturally in certain wines in more than four times the quantity that they do in others. It is, nevertheless, wholly impossible to so artificially combine any heterogeneous elements as to make the same substance as that of natural formation. Counterfeit wine having cider or perry for a basis, may be discovered by the quantity o f extract after evaporation. Pure wine contains from 18 to 28 per cent of extract, but cider or perry never less than 30 per cent, and from that up to 37 per cent. Alcohol obtained by the distillation of cider also differs from that of wine. In the former there is a peculiar etherial odor which is never present in the latter. The same may be discovered, by the odor disen gaged, in burning the extract. There is, however, independent of such means, an indubitable resource, 296 Garblings: or, Commercial Commodities Characterzed. in types o f comparison. By having types o f wine of known purity, any suspected sample purporting to be of the same variety, can always be tested. Types of wine for this purpose, should be procured with great care from the original producer, and, when practicable, of the same age and vintage as the suspected sample purports to be. Sugar and molasses.— The quantity o f saccharine matter in wine may be estimated by means o f a saccharometer— the name of a hydrometer, with a scale adapted to the proportion of saccharine matter contained in any solu tion. But first it is necessary to separate the extractive matter ; this may be done by adding a saturated solution o f the acetate o f lead, in the pro portion of one part to eight of the wine to be examined. This precipitates all the extractive except sugar. Then filter the supernatant fluid, and re move the lead from it, as directed, for that substance. The solution may now be tested by the saccharometer, or more certainly by evaporation, by means of which, the exact amount of sugar may be collected and weighed. Its quantity, however, is so variable, that within certain bounds, it is im possible to say whether it is natural or added, excepting by the type o f comparison. In some experiments in England to ascertain the percentage of sugar in different varieties o f wine procured there, Dr. Bence Jones found it to vary, as follows :— Paracrette............................................ Lamas.................................................. Tokay.................................................... Malmsey.............................................. P ort...................... Champagne.......................................... Madeira................................................ Sherry.................................................. 66 16 6 6 4 94 grains o f sugar to the ounce o f wine* 88 “ “ “ “ 74 “ “ “ “ to 66 “ “ “ “ to 34 “ “ “ “ to 28 “ “ “ “ to 20 “ “ “ to 18 In Claret, Burgundy, Rhenish, and Moselle, none could be detected. Cream o f tartar or tartrate o f potassa.— The presence o f cream of tartar is constant in every variety of pure wine ; the amount, however, is extremely variable. It is an addition to all imitations, and therefore the quantity present in any given sample, is of much moment, in order to compare with what is known to exist in a pure type. The best means of ascertaining the amount present is, to take 500 grains by measure o f the wine, evaporate to dryness, and ignite the residue; by this means the cream of tartar is converted into the carbonate of potassa, and the amount can be determined by the reaction o f dilute sulphuric acid of known strength. If, however, the sample has also been adulterated with the carbonates of lime, soda, or potassa, this test is fallacious. And in this event, the tartrate of potassa should be obtained in crystals from an aqueous solution. Tartaric acid.— According to Liebig, the Rhine-wines, when old, fre quently contain this acid in a free state. This, he says, is due to the custom of constantly adding new wine to the tun, in proportion as the old is drawn off. Its effects are to make the wine of more agreeable fla vor, though more injurious in use. It is therefore judicious to destroy this excess, in all cases, when it can be done without injury to the wine by mischievous means; and for this purpose, Liebig advises the use of pure neutral tartrate o f potash. But in very many wines the excess of tartaric acid is so great— doubtless made so by adulteration, in order to Garblings: or, Commercial Commodities Characterized. 29 1 improve the flavor— the quantity o f neutral tartrate required to neu tralize it, results in the formation of an excess of acetate of potash, which being soluble in wine, vitiates the taste. The remedy, therefore, only applies to a natural excess. In other cases, it is an additional adultera tion. The presence of free tartaric acid in wine may be tested by the addi tion of lime water or other alkaline solution, which throws down a white precipitate, which is very soluble in an excess of acid. Free tartaric acid may also be detected, by adding to a solution con taining it, twice as much of a solution of chloride of potassium, saturated at the temperature of 600 F. Stir the mixture with a glass rod for ten minutes, and bitartrate of potassa will be precipitated. If this test be applied to wine containing no excess of acid, it will take several hours to precipitate the natural bitartrate. The amount o f free tartaric acid contained in any sample of wine, may be estimated by the proportion of a test-alkaline solution, which is capa ble of saturating a given quantity o f the wine. And the whole amount of tartaric acid, both free and combined, may be ascertained, first by this process, and afterwards by decomposing the tartrates. In this way any variety of wine may be rendered available for comparison with a type. Tannin.— This is one o f the most important of the elementary con stituents of wine, and absolutely essential to its preservation. Hence it is a common addition to diseased wines and imitations. To ascertain the exact amount in wine, M. Faure has discovered the following simple means, viz.:— that one hundred grains of a solution o f gellatin added to an equal quantity of a watery solution of tannin, is capa ble of precipitating one grain o f tannin. To apply this experiment to wine, it is only necessary to have due regard to its specific gravity. The quan tity obtained should be compared with that o f the type. By imitators, kino, log-wood, rhatany, alum, and oak bark, are some times added in order to give the properties due to tannin. Coloring matter.— The additions to wine, for this purpose, are mostly limited to particular varieties. In the Oporto Company’s district, the most common substance used, is jerupiga. This is a compound made o f unfermented must, brandy, elder-berries, and brown sugar. Poke-berries, red poppies, privet-berries, myrtle-berries, log-wood, Bra zil-wood, and India-wood, are the common ingredients added to different varieties of wine, in order to produce a desired shade of color. By adding a solution of alum and carbonate of potash to wine, if there is a precipitate o f blue, violet, or rose color, artificial coloring may be suspected. A solution of potash added to wine, colored with red poppies, produces a greenish-brown precipitate; privet-berries, produces a violet-brown pre cipitate; myrtle-berries, produces a greyish-blue precipitate; elder berries, produces a violet precipitate; Brazil-wood, produces a violet-grey pre cipitate ; India-wood, produces a rose-colored precipitate. Poke-berry juice cannot be detected by this test. The coloring matter produced by poke-berries so nearly corresponds to that of the natural color of wine, that it is extremely difficult to detect it, by any other means, than by its constitutional effects on those who have been so unfortunate as to make much use of wine containing it. It is violently acrid in its effects, producing headache, purging, and great pros 298 Garblings: or, Commercial Commodities Characterized. tration o f strength ; and if long continued or taken in large quantity, it is an acro-narcotic poison— producing severe vomiting and purging, with great stupefaction. Lead. This substance is added in the form o f litharge, and svgar o f lead, for the purpose o f correcting acidity and giving sweetness. But besides these, it has sometimes found its way into wine by the use of utensils, in the process of manufacture, bottling, &c. Wines containing much of it are generally of light color, and have a sweetish styptic taste. The habitual use o f wine containing lead, though in very small quan tity, produces dyspepsia, excessive lassitude, and melancholly. If persisted in, succeeding this condition frequent fits of colic occur, which are often very obstinate, and sometimes fatal. Next, apoplexy, with or without a peculiar kind of palsy particularly affecting the balls o f the thumbs and the loss of power to extend the fingers, which persists unto death, unless the poison is discontinued. In an English treatise on wine-making, pub lished in 1733, to hinder wine from turning sour, it is recommended to “ pu t a pound o f melted lead into the cask and stop it close." And 11to soften gray wine, put a little vinegar wherein litharge has been well steeped, and boil some honey to draw out the wax. Strain it through a cloth, and put a quart of it into a tierce of wine, and this will mend it.” In Paris, the practice was also so common, that in 1775 an epidemic of lead colic was attributed to wine adulterated with litharge. And in 1837, there was an epidemic o f lead colic among the soldiers at Compiegne, in consequence of the use of wine, which had been sweetened with acetate of lead. In 1853, there was a circumscribed epidemic of lead colic in Paris, which was ascertained to be due to cider clarified with sugar of lead. The easiest way of detecting the presence of lead, is to acidulate a portion of the wine to be examined with muriatic acid, and then pass a current of sulphuretted hydrogen gas through it. If lead be present, there will be a dark-colored precipitate o f sulphuret of lead. Copper. This substance is also introduced sometimes in the process of manufacture; but at others, by the addition o f water or alcohol, which contain some salt of this metal in solution. It is a powerful irritant poison to the human system. Producing at first irritation and inflammation of the lining membrane of the stomach and bowels, ultimately followed by lethargy, convulsions, and death. To discover it in wine, it is necessary to evaporate a certain quantity, and incinerate the residue. Treat the ashes with nitric or nitro-muriatic acid, filter and evaporate. Dissolve the residue o f this in distilled water and test as follows:— Ferrocyanide of potassium produces a brown pre cipitate ; carbonate of potassa a pale-blue precipitate ; sulphurreted hydro gen, a black precipitate, and the arsenite of potassa a grass-green. Zinc sometimes finds its way into wine by the use o f vessels composed of it. It is a less active poison than lead or copper, but it may be sus pected, when wine seems to have the effect of constipating the bowels. For its detection proceed in the same manner as for copper— using as tests, ammonia or potassa, which produce white precipitates. Alum is a frequent adulteration for various purposes. To fix the color, to clarify, to impart keeping qualities for exportation, to give a styptio taste, &c. On adding chloride of barium or the nitrate o f barytes to a wine con Garblings : or, Commercial Commodities Characterized. 299 taining alum, there is an instantaneous white precipitate, which is insoluble in nitric or nitro-muriatic acid. Sulphate o f iron, or copperas, is added to wine for the same purpose as alum, and it may be precipitated by the same means. Its presence is in dicated by a blue color on the addition o f ferrocyanide of potassium. Carbonates o f potassa, soda, and lime, are common additions for the correction of acidity. The saturation of the excessive acidity of wines by these substances converts them into acetates. To demonstrate their pres ence, it is necessary to evaporate the suspected wine to dryness, but with as low a temperature as possible, in order that all the acetic acid may be evolved without decomposing the new ly formed acetates. By treating the residue with sulphuric acid the acetate is decomposed, and the acetic acid set free— it may be collected in a retort. To ascertain which of the corbonates have been employed, dissolve a part o f the extract in distilled water, filter through charcoal so as to deprive it of coloring matter, and add reactives. The acetate of lime is discovered by adding oxalate of ammonia, in a precipitate of oxalate o f lime. If this is not formed, the other acetates may be discovered by again evaporating to dryness, and treating with alcohol, which dissolves the acetates. Alcohol, containing the acetate of lime in solution, on being diluted with water, by tbe addi tion o f oxalate of ammonia, throws down a white precipitate of oxalate of ammonia. But the acetates of soda and potash cannot be absolutely determined without crystalization. On slowly evaporating a colorless solution containing the acetate of potash, irregular lamellated crystals, of a white satiny appearance, are formed. These are o f a strong acid saline taste, and very deliquescent. The acetate of soda is more easily crystalized ; the form of the crystals being complicated in striated needles and oblique rhombic prisms, vari ously modified. It is of a cooling, saline, bitterish taste. It is evident that for the detection of this adulteration, a large quantity of the suspected wine is necessary for the experiment. Sulphate o f lime, or plaster o f Paris. The presence of this substance in wine, has given rise to the appellation o f the plasterage o f wines. It is due to “ a new method of clarifying wines,” as first published in L’Encyclopedie des arts et matiers mecaniques, tom viii., p. 628, 1817. In later editions of this work, the article is expunged. But in 1839, the same process was again published by one Serane, in Montpelier, as a new invention, for which he obtained a patent. In 1854, the prefect of the Department of the Pyrenees-Orientales, stated that the practice was general in that department, excepting in wines which were preserved for domestic use. The same was the case in Herault. When plaster o f Paris is added to wine, it is partially decomposed, by which sulphate of potassa is formed, and held in solution, and tartrate of lime precipitated. It is, therefore, the sulphate o f potassa, which is taken into the system by the use of xvines clarified with sulphate o f lime. The court of Montpelier has decided, that the practice followed and known in the south o f France under the name o f “ Le Plastrage des wins,” does not constitute the crime of falsification of drinks and of mixtures prejudicial to health, in the sense o f the laws of 1851 and 1855. But notwithstanding this decision, an individual has been condemned by the Tribunal Saint-Affrique, for having sold wine thus treated ! The sulphate of potash is comparatively an insoluble salt, requiring six 300 Garblings: or , Commercial Commodities Characterized. teen parts by weight of cold, and five o f hot water, for its solution. Its constitutional effects, in considerable quantity, are permanently laxative, but in the quantity supposed to be taken in wine, which has been clarified with sulphate of lime, there are no traceable effects, which can be said of no other substance used for the same purpose. Sulphuric acid has in some cases been added to wine for the purpose o f re-establishing that which has turned, to mask flatness, or to give sharp ness. Owing to the salts o f wine, sulphuric acid thus added does not remain free, but unites with them to form sulphate o f potassu. To detect it, therefore, it is necessary to have recourse to such reactives as pertain to this latter substance. Such are the chief counterfeits and adulterations, which at present con stitute the wines o f commerce C onstitutional E ffects. In all ages among civilized people, there has existed a remarkable inclination to the use o f wine, while its abuse has been coevally condemned. The variable proportion o f the constituent principles of wine, apparently indicate a want of, uniformity in its constitutional effects. In pure wine, however, there is no individuality o f action of any one of its constituent principles, because each element is so modified in its character by com bination with all the rest, that the effect on the constitution is attributable to the wine integrally, and not to any excess o f any particular principle. Hence the constitutional effects of pure wine may be considered in the aggregate, independent o f such action as shows a preponderance of some particular principle ; this latter condition being generally an evidence of impurity. In all wines alcohol is the predominant principle, yet unless it is free—• that which is added in adulteration— its character is so modified by com bination as to exercise a very different power on the system from what it does when not subject to any such influence. It has already been shown that some o f the strongest wines contain about half as much alcohol as whisky; in other words, that a pint of Madeira or Port is, in alcohol, equal to half a pint o f whisky or gin. Yet everybody knows that they differ much more than this in their effects on the human system. The stimulant qualities of wine are not only less powerful than an equivalent proportion o f alcohol in any other form, but they are much slower of production, and o f much longer duration. Considering this property, and what has already been said o f the extractive and other con stituent principles o f wine, the result o f its habitual use can be easily com prehended, v iz, supernutrition or plethora, which is ordinarily the intro duction to the usual diseases of wine bibbers— apoplexy, gout, gravel, and dropsy. So insidious are the constitutional effects o f wine drinking that most writers on the subject excuse it on the ground of an artificial state o f the sys tem, which either produces a necessity for persisting in its use, or inures the system to any ill-effects from continued indulgence. This apology for wine drinking has slain its thousands, while the propagators of it have failed to apply those principles of nutrition which are apparent to the merest tyro in the laws of health. The first effects manifest in excessive nutrition display an exuberance of health, hence the mistake that the most perfect health is compatible G arllings: or, Commercial Commodities Characterized. SOI with the moderate indulgence in, or habitual use of, wine. But when the supply of nutritive material is habitually abundant, and the functions of the system are stimulated, the usual effect is increase of bulk, especially bo if the habits of exercise are not such as to create an amount o f excre tion proportionate to the inordinate supply o f nutrition. If the excess of supply be only slight or casual, with a proportionate degree of physical exertion, the self-adjusting powers of nature may he equal to the irregularity, and prevent the transition o f healthy into diseased action. But if the excess be great or habitual, the organic functions are over-taxed, and their conservative powers necessarily languish. This con dition is succeeded by such irregularities as display the worst effects of wine drinking, by the development of incurable diseases, which have had their foundation in “ perfect health.” It is obvious, therefore, that the exuberance o f health evinced by the florid countenance and fatness of the wine-bibber, are the suspicious evidences of a constitution taxed to the very highest decree o f forbear ance, which must, in course of time, become relaxed and sink even below the normal standard of resistance. In this vitiated state of the system, constitutional predispositions to disease, both hereditary and acquired, that might otherwise have lain dormant, are frequently roused into the most speedy fatality. That there are some constitutions which appear to be unaffected by the habitual use of wine is no less true than that of any other habit tolerated by the natural powers of endurance. But, as stated in a previous chapter, such habits only serve to demonstrate the capabilities of the human con stitution, and are in no event admisable evidence o f natural adaptation. Under circumstances of extraordinary fatigue and exposure, and in cer tain diseased states o f the system, the tonic effects of wine remarkably display the action here attributed to it. But for healthy persons under ordinary circumstances, observation, experience, and pathology, all go to show that the powers of the human constitution are uniformly weakened by the habitual use o f wine. For occasional use, or adaptation to certain states o f the system when wine m aybe deemed advisable or salutary, it is important to bear in mind some of the differences in the numerous varieties which have been described. In the healthy, they are all least injurious when associated with regular habits o f out-door exercise, and most hurtful to the sedentary and the indolent, and the strong wines more injurious than the weak ones. Sweet wines contain the most extractive, on which account they gen erally disagree with dyspeptics, while the amount of sugar they contain renders them injurious for persons afflicted with urinary diseases. Red wines also contain a good deal of extractive, which, together with the coloring matter, renders them obnoxious to dyspeptics, and others who have delicate stomachs. Acid wanes promote gout and rheumatism, especially so if they have been preceded by the strong wines. Sparkling wines more quickly intoxicate than others of the same rela tive strength. This is owing to the presence o f carbonic acid and the volatile state of the alcohol. They are very apt to bring on a fit o f the gout in persons who are subject to it, and they usually produce indiges tion. Burgundy wines are more heady than other wines, and they produce 302 Coinage o f the Various Countries o f the World. a more powerful impression on the nervous system, on which account they have been supposed to possess some unknown acrid principle. Bordeaux wines are the converse of the Burgundy. They are the least intoxicating of all wines. In other qualities, however, they are very ir regular, sometimes astringent, sometimes laxative, depending upon the mixture which constitutes them. Rhenish wines and Moselle are, in intoxicating effects, similar to Bor deaux, but they frequently contain acid. When pure they are better adapted to certain feverish states of the system than any other. Of strong wines, “ port” abounds in alcohol and astringency, and its habitual use is of all wines most apt to produce gout. It is heavy and indigestible. Sherry is strongly alcoholic, but its non-acidity renders it preferable to all others where a strong wine is indicated. Madeira chiefly differs from sherry in oftentimes being acid, when otherwise, its effects are the same as sherry. Old wines are generally preferable to new, first, because they contain less alcohol; and secondly, because by age they cease to hold in solution bitartrate of potassa, coloring, and extractive matters. In brief, they contain less o f the most injurious principles. It must be evident from the foregoing that the degree of injury to the constitution from the use o f wine depends, in a great measure, upon the quality as well as the quantity used, and also upon constitutional predis position to disease. Generally speaking, however, the first deviations from a healthy standard take place so gradually as to be scarcely perceptable, and when disease is discovered it is apt to be ascribed to “ constitu tional” indisposition. To relieve this, the cravings o f a habit which has now become really constitutional, are interpreted as beneficial, and the accustomed stimulus assumes to be so too, because it appeases the appetite. But preternatural excitement has been kept up so long that the natural powers of the system are now beginning to decline, and unbearable de pression takes the place of normal strength. The organic functions lose their harmony, and now that the disease is incurable, it is ac knowledged. It is in this way that those who have accustomed them selves to the use of wine suffer when they leave it off. As, therefore, persons in perfect health can receive no possible benefit from its use, the insidious advances of a possibly dangerous disease— habitual wine drink ing— are best resisted when wine is wholly excluded. Art. V.— COINAGE OF THE VARIOUS COUNTRIES OF THE AV0RL1). [The Act of Congress, approved February 21,1857, provided that the Annual Report of the Director of the Mint of the United States, should thereafter present the operations of the mint during the fiscal year of the government, (ending June 30th, of each year,) instead of during the calendar year, as had previously been done. The present article consists of a condensation of a part of the report for 1857, (as published in the report of the Secretary of the Treasury on the finances,) which presents accounts of the recent coinage of the different countries of the world, and which were collected by the Director of the Mint, J ames R oss S nowben, under a provision of the act above mentioned, as stated in the first paragraph following.— E d . M er. M ag.] Coinage o f the Various Countries o f the W orld. 303 The third section of the A ct of Congress, approved February 21, 1857, contains the following enactment:— “ That all former acts authorizing the currency of foreign gold or silver coins, and declaring the same a legal tender for debts, are hereby repealed; but it shall be the duty o f the director of the mint to cause assays to be made, from time to time, of such foreign coins as may be known to our commerce, to determine their average weight, fineness, and value, and to embrace in his annual report a statement of the results thereof.” In pursuance of the requirement o f this law, the director of the mint caused assays to he made of such foreign coins as came within the official notice of the mint, or could be procured at the seats o f commerce of the United States, or obtained from other sources. A strict compliance with the law would require but a brief report, as but few foreign coins are now “ known to our commerce,” the course of trade leading the precious metals, especially gold, from the shores of the United States, and scarcely any comes from abroad, except what may be found in the hands o f emigrants and travelers. But the occasion of making the first report under this law is deemed a good opportunity to present to the public, in a reliable and official form, such information respecting the “ weight, fineness, and value” o f such foreign coin as has come under the observation o f the director as may be useful, not only to the merchant and statesman and man of business, but to the traveler and general reader. It will be observed that the different countries are presented somewhat in the order of proximity to the United States, beginning with Mexico and ending with the East Indies. The terms of weight and fineness are those used in the mint. The weight is given in thousandths of an ounce troy instead o f grains; the fineness is expressed in thousand parts, now become the general language of assayers. (If it is desired to convert thousandths o f an ounce into grains, take the half, and deduct four per cent o f the half. To convert grains into thousandths of an ounce, add one twenty-fourth, and double the sum.) The calculation of the value of large quantities by these forms of expressions is greatly facilitated. The gold values are the equivalent of the gold coinage of the United States according to its legal standard ; from which, if the return is desired in stamped bars, there is to be de ducted six cents per hundred dollars; if in gold coin, one-half of one per cent, or fifty cents per hundred dollars. The silver values are based upon the present mint price of 122.5 cents per ounce o f standard fineness— namely, 900 thousandths. The scope which has been taken in respect to the age o f the coins is about twenty or thirty years at the most. Where the term new is used, it is to be understood as extending back three or four years only from the present time. By giving double results, namely, of pieces lately issued, and of pieces somewhat worn by circulation, justice is done to the respect ive mints on the one hand, and to holders of coin on the other. W ith these preliminary remarks, Mr. Snowden proceeds to notice the coinage of the following countries:—M exico . There are eight or nine mints in this country, one of which is national, while the others are State institutions, having one general law of coinage, but independent of each other, and subject to n> general control. There are some characteristic differences in respect to grades of 304 Coinage o f the Various Countries o f the W orld. fineness and general accuracy, but they seem not sufficient to call for a distinction, especially as the only external means o f identifying is in the mint mark. The coins are commercially known as Mexican, and there is no further inquiry. Our object, therefore, is to give as fair an average as can be arrived at. Gold. New piece of 8 E., (eight escudos,) usually called a doubloon— ■weight, 0.805 ounces; 8 7 li fin e ; value, 815 58.3. These pieces (from Culiacan and Chihuahua) do not fairly represent either the weight or fineness, being low in the former respect and high in the latter, yet they averge about the usual value. General average, 0.8674 ounce, 866 fine, $15 53.4. The smaller denominations are four, two, and one escudos. Silver. New peso o f 8 R., (eight reals,) known as the dollar; 0.866 ounce, 902 fine, $1 06.3. General average, 0.866 ounce, 901 fine, $1 06.2. The smaller sizes are four, two, one, and one-half real. C entral A merica . Gold. New piece o f 2 E., (two escudos,) or quarter doubloon of Costa liica, 0.209 ounce, 853! fine, $3 68. Average of dates, 0.20 ounce, 850 fine, $3 60. There is also a piece o f four escudos, of Costa Rica, (not new,) which gives 0.434 ounce, 851 fine, $7 62. The old doubloon o f Central America, the latest date of which, so far as noticed here, is 1833, averaged, 0.869 ounce, 833 fine, $14 96. There were smaller denominations, of later dates, somewhat in proportion as to value, but too irregular to demand a more particular notice. The sizes were the same as in Mexican gold coinage, with the additon of a half escudo, which may be called the gold dollar; this last averaged 83.5 cents. Silver. The 8 R (dollar,) of 1840 to 1842, averaged 887 fine; that o f 1847, the latest date observed, varied from 820 to 880, the weight being tolerably conformed to the Mexican or Spanish standard. It is therefore almost impossible to assign an average of value; we might say from 97 to 100 cents. There were fractional parts of the dollar, as in Mexico. A sort o f siege-coinage, of one real pieces, appeared in lr4 6 , apparently shaped with hammer and chisel, and equally rude as to pro portions of alloy. They varied from 29 to 45 grains, (0.060 to 0.094 ounce,) and from 550 to 637 fine; average value, six cents, or less than half the original or regular coin of the same denomination. N ew G ran a da . Gold. The old doubloon of Columbia, and that of New Granada, (originally part of Columbia,) of the Spanish basis have almost wholly disappeared from trade; but their value may here be stated:— 8 E., mint of Bogota, 1823 to 1836, 0.868 ounce, 870 fine, $15 61.7; mint of Popayan, same dates, 0.867 ounce, 858 fine, $15 39.0; mint of (New Granada,) 1737 to 1843, 0.867 ounce, 868 fine, $15 56.0 This rate continued until 1849, when there was an entire change in the standards, both of weight and fineness, and some reduction in value. The new piece, as coined at the mint of Bogota, dating 1849 to 1856, does not bear the denomination 8 E, as formerly, but the weight, “ 25 8064 G.” or grammes, (French,) and the alleged “ lei ” or fineness, “ 0.900;” it yields here 0.826 ounces, 894 fine, $15 31. But the piece coined at the mint of Popayan is of a different size, and stamped “ 16.400 M ” and “ lei 0.900.” It yields (1856,) 0.525 ounce, 8914 fine, $9 67.5, and is therefore intended either as a piece o f 5 escudos, or 10 pesos, (dollars.) The Gold coins of New Granada, being silvery, are partible at this Coinage o f the Various Countries o f the W orld. 305 mint, when presented in quantities over 75 ounces, and will then yield an addition to the above valuation, at the rate o f five or six cent to the doub loon, and to the piece o f ten dollars in proportion. Silver. There are several varieties o f dollars extant of Columbia and New Granada. 1. That which bore the head o f a native princess, or cacique, with a crown o f feathers, was base and irregular, worth about 75 cents; it ceased to be coined in 1821. 2. The dollar o f 1 8 3 5 -3 6 was of the usual Spanish rates, and is worth about 1071 cents. 3. The dollar of 1839, light, and professing to be two-thirds fine, (“ lei ochodineros,” ) yields about 68 cents. W e style them dollars, although they were known at home as pieces o f 8 reals. The fourth variety is n ew ; the only piece we have seen, bore the date 1857, and like the new 'peso or dollar of Chili, appears to be purposely conformed to the five-franc piece of France, both in weight and fineness. The results are, 0.803 ounce, 896 fine, value 98 cents V enezuela . It is understood that the French piece of five-francs is cuirent as a peso or dollar, which is no doubt true o f the new silver of New Granada also. There was formerly a coinage o f small silver pieces of low alloy at Caraccas, of no commercial interest. Gold has never been coined there. E cuador . No recent pieces of the mint of Quito have been examined. The pieces of 4, 2, and 1 E., 1835-’36, were 844 fine; the largest piece (half doubloon,) worth $7 60. The small silver coinage, 1833 to 1847, and probably later, was of base alloy; the piece o f 2 R., (quarter dollar,) being about 675 fine, and worth 20 cents. P eru . The political divisions o f this country and the distribution of the coinage among various mints perplex the study of Peruvian money down to the date of 1855, inclusive. The doubloons, dating from 1826 to 1837, were of Spanish standards, andworth from $15 53 to $15 62. The new gold coinage will be particularized after disposing o f the old silver series. The silver dollar or 8 R., of 1822 to 1S41, was o f full Spanish stand ards, and worth 106 cents. An issue, bearing new devices, dating 1851’ 55, gave an average of the same value. In 1855 the standard of weight was materially reduced, and the specimens are so diverse that it is hard to tell what was intended; for example, ranging from 0.760 to 0.772 ounce, at the assay 909, the values are 94 to 951 cents. In the same year the new style o f coinage was introduced, which will be noticed presently. In regard to the smaller pieces a distinction is to be observed. Those of the mint of Lima (the mint mark being an interlacing o f the letters L I M A, looking like an M,) were maintained at the old standards, and were in due proportion of value. Those o f Guzco and Arequipa, (to be known by C U Z. and A R E Q. in the legends,) commencing about the year 1835, were debased in fineness to a standard o f two-thirds; by actual assay, 650 to 667 thousandths. Consequently the half dollars, or 4 R., are worth 39 cents, the quarter dollars 19 cents. These pieces are continually occuring in mixed deposits at our mint. In 1854-’ .j5 a half dollar was coined at Lima of the usual fineness, but reduced in weight, and by no means well adjusted. One specimen weighs 0.381, another 0.402 ounce, at 904 fine, value 47 and 49.5 cents. In 1855 the coinage both of gold and silver was thoroughly reformed VOL. x x x v i i i . — n o . in . 20 306 Coinage o f the Various Countries o f the World. and decimalized. Instead o f escudos and reals the peso is the normal de nomination, and the scale of coins and the rates o f coinage are remark ably conformed to those of the United States. The fineness formerly marked in quelates (carats,) for the gold, and dineros and granos for the silver, is now expressed decimally in both cases, “ 9 decimos fino." Upon this basis the gold piece of 20 pesos, 1.070 ounce, would be equal to our twenty dollars; the peso of silver, 0.858 ounce, of the value o f 105 cents; the half peso, 49 cents. Here is the same distinction between the whole dollar and the small silver that is made in our own coinage. W e have had no opportunity o f making assays o f the coinage o f 1855 ; the pieces which came under notice were specimen coins, presented to the mint cabinet, and were not struck at Lim a; in fact, we learn, that the new system above noticed is not yet operative. B olivia . The doubloons of the usual Spanish standards, 182*7—’-36, yields $15 58. The dollar, 1848, latest date noticed, averages 0.S71 ounce, 9001 fine, 106.7 cents. The half and quarter, to 1828 inclusive, were in proportion ; but from 1830 a debasement to the two-tliirds stand ard makes the half dollar worth 39 cents; the quarter, 19.5 cents. No late dates have been seen here. C hili . The doubloons of this country from 1819 to 1840 or later, though of various devices, were of the usual Spanish or Mexican standards, and varied in value from $15 57 to $15 66. An entirely new system of coinage was promulgated in 1851. The silver dollar of the dates 1817 to the change o f coinage was of the usual weight and fineness, and yields full 106 cents. In 1851 the coinage was thoroughly decimalized with the same standard of fineness, (nine-tenths,) but not the same standard of weight, as in our country or in Peru. The gold piece of ten pesos or dollars of 1855 weighs 0.492 ounce, is 900 fine, value $9 15.3. This however, is only the trial of a single piece. It is stated that there are also pieces o f five and two dollars. The silver peso of 1 854-56, on an average weighs 0.801 ounce, 9 0 0 i fine, 98 2 cents. The half peso proves to be in due proportion. There are said to be the smaller sizes, of twenty, ten, and five cents, proportional in weight; and in copper, a cent and a half cent. B razil . The changes in the denominations o f coin are much influenced by the prevalence of paper money, as will be seen by the progressive elevation of the nominal value of the normal silver coins herein noticed. Gold. Before 1822 there was the moidore, (moeda d' ouro) o f 4,000 reis, weighing 0.261 ounce, 914 fine, value $4 92. Also a half moidore, in proportion. From 1822 to 1838, and perhaps later, there was the piece of 6,400 reis, weighing 0.461 ounce, 915 fine, value $8 72. O f the dates 1854 -5 6 we observe a piece which bears no name or valuation on its face, weighing 0.575 ounce, 917| fine, $10 90.5 ; and a piece of half the size and value. Silver. The piece o f 960 reis, before 1837, was either a Spanish dollar annealed and re-stamped, or its equivalent, therefore worth 106 cents. There was also the 640 reis, reaching back a century or more, two-thirds of a dollar, now worth 70 cents, and the 320 and 160 reis in proportion. In 1837 a new series was commenced o f 1,200, 800, 400, 200, and 100 reis; the largest piece was equal in weight to the former piece o f 960, Coinage o f the Various Countries o f the World. 307 and about 891 fine; value 105 cents. Another series apparently the latest, and beginning (so far as noticed,) with 1851, makes the largest piece 2,000 reis; with a half and quarter. The piece of 2,000 weighs 0.820 ounce, 918£ fine, value $1 02.5. The new legal standards o f fine ness, both for gold and silver, are evidently eleven-twelfths, or 916| thousandths. A rgentine R epublic . N o specimens o f recent coinage from Buenos Ayres have been observed. The doubloons and dollars o f the “ Provincias de la Plata,” dating 1 8 13-32, were wery irregular in fineness; the former varied in value from §14 66 to §15 5 0 ; the latter, 92 to 95.5 cents. The dollar of the “ Republica Argentina,” 1 838-39, varied from 102 to 108 cents; the average about 106 cents. E ngland . Gold. The pound sterling is represented by the coin called the sovereign, whose legal standards are eleven-twelfths (or 9 1 6 f thous andths) fine, and at the rate o f 4 6 f f pieces to a pound troy; equal to 1291 grains, or 0.256T\ ounce, not making exact fractions. The coinage of sovereigns commenced in 1816. Before that time the principal coin was the guinea of one pound and one shilling, (21*.,) which was on the same legal basis, and which ceased to be coined when the exact pound piece was introduced. Although the term guinea is still in familiar use there, the actual coin is seldom seen, and need not be further spoken of, except to say that the pieces are so much and so irregularly worn that they can only be taken by weight; their average fineness being 915 i. From 1816 to about 1851 the average fineness o f sovereigns was 915£ with great regularity. Since that date the fineness has been more exactly conformed to the legal standard, and is reported by us at 916|. The average weight of the older pieces is 0.256 ounce, and the value §4 84.8 ; new pieces 0.256f, or 1234 grains— value §4 86.3. There are also half sovereigns, and some double sovereigns have been coined. Silver. The silver coinage was also reformed in 1816. It bears a subsidiary relation to the gold, being coined at a higher rate than its true value, in order that it may be kept in the country to secure the purpose of change. Instead of the shilling being worth 24.3 cents here, (as the twentieth part of a pound,) it is 23 cents for new and unworn pieces, and about 22 cents when worn. The assay of new pieces is 9241 thousandths, (the standard being 9 25;) the average weight o f the new shilling 0.182iounce. There are also, in silver, crowns, of five shillings, half crowns, florins of two shillings, sixpences, or half shillings, and pieces o f four pence, and three pence, current; besides these, (holiday money not current,) the pieces of two, one-and-a-half, and one penny, coined annually in small sums. Silver coins o f England come here in the hands of trave lers and emigrants, not in the way of commerce. N etherlands . Within a few years the Dutch government has taken the singular ground of discarding gold from coinage. The pieces of ten and five guilders are, of course, still to be met with ; but their average value declines by reason o f wear, and not being sustained by fresh issues. The ten guilders may now be put down at the weight o f 0.215 ounce, 899 fine, value §3 99. In silver the guilder before 1841 was 0.346 ounce, 896 fine, value 42.2 cents. Pieces of three guilders and half guilder were of the same rates. The small pieces of 25 centimes and 10 cents, (quarter and tenth guilder,) were only 569 fine, but proportionally heavy, and of full value. There was an entire change of standards in 1841. A 308 Coinage o f the Various Countries o f the World. piece of 2-J guilders was issued, weighing 0.804 ounce, 944 fine, (the standard being 945,) and value 81 03.5. The guilder, in proportion, 41.4 cents— a reduction upon the old rate. B e l g iu m . B y the law of 1832, the standards and denominations were conformed to those of France, but for some years the actual average fine ness both of gold and silver was as low as 895. More recently the gold has been 899 ; but the new piece o f 25 francs weighs 0.254 ounce, value $4 72, which is a little below proportion as compared with the 20 franc piece, which averaged 83 83. New five franc pieces, silver, are 0.803 ounce, 897 fine, value 98 cents. F rance . Gold. New coins average 899£ fine, with 0.207| ounce for the 20 franc piece, and value 83 86. (It is convenient to remember that this coin is worth just one dollar less than the British sovereign.) The other sizes are 40, 10, and 5 francs; the latter lately introduced. On a general average the 20 franc is worth 83 84.6. Silver. The older pieces averaged a little over the standard fineness o f 900; new pieces do not average higher than 8981. The five franc piece generally is of the weight 0.803 ounce, and value 98 cents. The smaller pieces of two francs, one franc, half, and quarter franc, are of the same fineness, and proportional in actual value, except as they may have suffered from wear. S p a in . Gold. The last date that we have noticed of the long-con tinued doubloon series of Peninsular coinage was 1824. The half doub loon of that year weighed 0.433 ounce, 856 fine, value 87 75. The new gold coin is a piece o f 100 reals, weighing 0.268 ounce, 896 fine, 84 96.3. Silver. The principal coin (not the largest,) seems to be the piece of four reals, or pistareen, which before 1837 was o f the weight 0.189, fine ness 810, value 20.7 cents. The standards have been lately changed, and the new pistareen weighs 0.166 ounce, fineness 899, value 20.3 cents. There is also a large piece of 20 reals, (dollar,) worth 101.5 cents; and pieces of 10, 4, 2, and one real in proportion. P ortugal . Coins o f this country are rarely seen here. The gold coroa or crown of 1838, the latest date observed, weighed 0.308 ounce, 912 fine, 85 81.3 ; the half crown in proportion. The silver crown of 1,000 reis, same date, weighed 0.950 ounce, 912 fine, 81 18. Pieces of 500, 200, and 100 reis were in proportion. G ermany . The German coinage appears multifarious and confused, on account of the many separate governments, the diverse systems of moneys, and the repeated changes o f standards. They are now, however, reducible to two general classes, one o f which chiefly pertains to the northern, the other to the southern States. In the north, including Prussia, the gold coins are the ten and five thaler pieces, the former weighing 0.427 ounce; but they are not all of the same fineness, those o f Prussia being about 903, making in value 8 8 ; those of Brunswick and Hanover about 895, making in value 87 9 j. The ducat of southern Ger many is coined at the old imperial rates, weight 0.112 ounce, fineness 986, value 82 28.3. The silver coin in the north is the thaler series; new thalers weigh 0.716 ounce, 750 fine, value 73 cents. Their general average value is 72 cents. In the south the gulden or florin is the normal coin, weighing 0.340 ounce, 900 fine, value 41.7 cents. Both the thaler and gulden are so far harmonized by the last money convention that a large coin is issued by all the States, which is equally a double thaler Coinage o f the Various Countries o f the World. 309 and a piece of 31 gulden; its weight 1.192 ounce, fine 900, value $1 46. There are also a half gulden and divisions of the thaler; the latter of low alloy, but in proportion as to value. The crown dollar (kromen thaler,) series, formerly maintained in Bavaria, Baden, and Wurtemberg, weighed 0.946 ounce, 875 fine, value $1 12.6. Pieces marked “ zehn (or x) eine feine mark,” (the former convention dollar,) were equivalent to those still coined in Austria; which see. The Bremen piece o f 36 grote is of the value 37.5 cents. D enmark , S weden , and N orw ay . The specie rix dollars o f these countries are nearly the same in value, though diverse as to standards. The “ 2 rigsdaler” coin of Denmark, and the “ rigsdaler species” of Nor way are of the weight 0.927 ounce, fine 877, value $1 10.7. The Swedish rix dollar, formerly of the same rates, of latter years has been at the weight of 1.092 ounce, fine 750, value $1 11.4. The Danish ten thaler piece is of the same weight, fineness, and value as that o f Brunswick, (see Germany,) and the Swedish ducat weighs 0.111 ounce, 975 fine, value $2 26.7. No gold is coined in Norway. S witzerland . The new “ 2 franc” of “ Helvetia” is equivalent to the two franc piece o f France; weight 0.323 ounce, fine 899, value 39.5 cents. I talian S tates. S a rd in ia . The system of coinage is the same as in France ; which see. The lira is equivalent to the franc. T uscany . The gold coin is the zecchino, or sequin, o f ducat weight, and professedly of absolutely fine gold. The actual results are, 0.112 ounce, 999 fine, value $2 30. The silver florin, or fiorino, (subdivided into 100 quattrini,) weighs 0.220 ounce, 925 fine, value 27.7 cents. There is a large piece, of four florins,'called the leopoldone; also a half and quarter florin; all in due proportion of value. H ome. The new 2£ scudi (gold,) weighs 0.140 ounce, 900 fine, value $2 60. There are also pieces of 5 and 10 scudi. The silver scudo weighs 0.864 ounce, 900 fine, value $1 06. It is divided into 100 bajochi. The decimal system was adodpted in 1835. N aples . Gold appears to be rarely coined in the kingdom of the Two Sicilies; and the silver coinage is awkwardly adapted to the imaginary ducat of account, which perhaps by this time has fallen into disuse; and if not, should be estimated at about 83 cents. The principal silver coin is the scudo, or 120 gt'ani, weighing 0.884 ounce, 830 fine, value $1. A new scudo gives the figures 0.887 ounce, 833 fine, value $1 00.5. A ustria , and L ombardy . The coins of these two branches o f the same empire, though very diverse as to standards and denominations, are still brought into an exact relation as to value. Thus, the gold, the ducat weighs 0.112 ounce, 986 fine, value $2 2 8 ; and the souverain weighs 0.363 ounce, 900 fine, value $6 7 7 ; intended to be equal to three ducats. There are, also, the half souverain and the double and quadruple ducat. In silver, the former convention rix dollar of Germany, “ ten to the fine mark,” is still used in Austria; its weight 0.902 ounce, fine 833, value $1 02.5. Its half is the Austrian florin. The zwanziger, or piece o f 20 kreutzers, is one-sixth o f the rix dollar, weight 0.215 ounce, fine 582, value 17 cents. There are smaller pieces, of base alloy. The scudo of Lombardy is the equivalent of the rix dollar; weight 0.836 ounce, 902 fine, value $1 02.7. The lira, one-sixth of the scudo, is of the same fine ness. It is interchangeable with the 20 kreutzer piece. K ussia . The new five rouble piece (gold,) is o f the weight 0.210 310 Commerce and Navigation o f the United States. ounce, 916 fine, value $3 97.6. There are pieces of three roubles, in pro portion. The silver rouble (subdivided into 100 copecks) weighs 0.667 ounce, 875 fine, value 79.4 cents. There are half and quarter roubles, and smaller divisions; and a large Eussian-Polish piece, of ten zlotych, equal to one and a half roubles, or $1 19. T urkey . The gold piece o f 100 piastres, since 1845, is of the weight 0.2S1 ounce, 915 fine, value $4 37.4; the piece o f 50 piastres in propor tion. The silver coins, beginning with the same date, are about 830 fine; older pieces are of base alloy and a somewhat confused medley o f denomi nations. The new piastre weighs 3 8 i thousandths of an ounce, and is worth 4.38 cents; there are larger pieces o f 2, 5, 10, and 20 piastres; the latter worth 87.5 cents. G reece . The 20 drachm piece weighs 0.185 ounce, 900 fine, value $3 45. The 5 drachm, 0.719 ounce, 900 fine, 88 cents. Smaller pieces in due proportion. A ustralia . The sovereign or pound sterling o f the mint at Sydney, 1852, weighs 0.256 ounce, tine 9161, value 14 85. By a singular liberality the “ one pound ” piece of the “ government assay office, Adelaide, was issued at the stamped rates o f “ 5 dwt., 15 grains’ ’ in weight and “ 22 carats” fine. The weight of one specimen received hold out 0.281 ounce, and assuming the fineness as correct, the value is $5 32, a large advance upon the true pound sterling. This was in 1852, since which time the error has been corrected. E ast I ndies and J a pa n . The multitude of rupees o f Hindostan, more diverse in appearance than in actual value, appears to have given way to the Anglo-Indian coinage bearing the head of the British sovereign. The uniform system of coinage began in 1835. The gold mohur, of fifteen rupees, weighs 0.374 ounce, 916 fine, value $7 08. The silver rupee, same weight and fineness, is o f the value o f 46.6 cents. There are also half and quarter rupees, in proportion of value. The rectangular silver coin o f Japan called itzebu, weighs 0.279 ounce, 991 fine, value 37.5 cents. There is a cold coin called copang, a large, thin, oval plate, whose value cannot be satisfactorily stated; the specimen in the mint cabinet is worth about $6 50. Art. ¥.— COMMERCE AND NAVIGATION OF THE UNITED STATES. A full synopsis of each annual report of the United States Treasury on “ Commerce and Navigation ” since 1839, has been incorporated in the successive volumes of the Merchants' Magazine. W e have, also, at inter vals, published very many elaborate articles, in which wo have recapitulated the detailed statistics of the trade, foreign commerce, navigation, tonnage, &c., &c., of the United States, in each year from the organization of the government. O f late years, we have generally printed the summary ta bles of the annual report in the department of the Magazine, devoted to “ Statistics of Trade and Commerce.” W e now commence the publication of the report for the fiscal year 1857, giving it a place among our “ Artiticles,” and this for the purpose of affording it ample space, expediting its publication, and adding our compilations o f statements o f previous years. Commerce and Navigation o f the United States. 311 In the present number we present:— 1. Value of exports (domestic, foreign, and total,) to and imports from each foreign country; 2. Tonnage o f American and foreign vessels arriving from and departing to each foreign country; 3. Value o f the exports o f the growth, produce, and manufacture o f the United States; 4. Value o f the goods, wares, and merchandise, imported into the United States. COM M ERCE. COMMERCE OF THE UNITED STATES, EXHIBITING THE VALUE OF EXPORTS TO AND IMPORTS FROM EACH FOREIGN COUNTRY DURING THE YEAR ENDING JUNE 30T H , 1857 :— ,--------------------------V A L U E O F E X P O R T S .--------------------*----- , C o u n t r ie s . Russia on the Baltic & N. Seas Russia on the Black Sea......... Asiatic Russia........................... Russian possessions in N. Am . Prussia...................................... Sweden and Norway............... Swedish West In d ies............. Denmark.................................... Danish West Indies................. H am burg.................................. Bremen...................................... Other German ports................ Holland..................................... Dutch West Indies.................. Dutch Guiana........................... Dutch East Indies................... Belgium .................................... England.................................... Scotland.................................... Irelan d...................................... Gibraltar.................................... Malta.......................................... Canada....................................... Oth’r British IN. Am.possessions British West Indies................. British Honduras..................... British Guiana......................... British possessions in A frica .. British Australia..................... British East Indies................... France on the Atlantic........... France on the Mediterranean. French North Am. possessions French West Indies................. French Guiana.......................... French East Indies................. Spain on the Atlantic.............. Spain on the Mediterranean.. Canary Islands......................... Philippine Islands................... Cuba.. ...................................... Porto R ico................................ Portugal.................................... Madeira..................................... Cape de Verd Islands............. Azores........................................ Sardina....................................... Tuscany..................................... Domestic produce. $4,356,838 69,174 20,057 28,775 30,788 1,373,306 76,405 234,529 1,419^018 3499,798 11,082,107 3,980,633 869,517 343,728 125,356 3,693,628 174,628,021 4,671,837 3,450,614 564,314 288,485 13,024,708 6,911,405 5,032,055 425,379 1,003,976 679,835 8,297.131 864,898 35,360,428 1,858,012 137,561 729,779 84,447 2,962,097 7,715,907 89,027 66,133 9,379,582 1,783,429 1,619,057 62,204 63,108 62,972 3,057,901 337,400 Foreign produce. $171,465 26,212 57,362 14,311 27,120 3,528 97,677 654,417 361,888 265 127,244 16,779 6,104 108,159 1,950,698 3,162,131 32,181 1 ,0 0 0 53,065 30,992 3,550,187 776,182 52,863 34,973 5,618 7,910 143,653 113,039 932,523 88.024 33,212 1,364 1 ,0 0 0 13,882 1 1 ,2 1 1 915 171,479 5,543,861 162,045 16,388 684 1,395 17,751 77,567 V A L . O F I M p ’ b TS. Total. $1,435,394 43,626 Total. $4,528,301 69,174 46,269 86,137 45,099 1,400,426 79,933 234,529 1,516^695 3,854,215 11,443,995 255 4,107,877 386,296 349,832 233,515 5,644,326 177,690,152 4,704,018 3,451,614 617,379 319,477 16,574,895 7,687,587 5,084.918 460,352 1,009,594 687,745 3,440,684 977,937 36,292,951 1,945,036 170,773 731,143 85,447 40,400 66,127 744,812 12,082 8,809 281A59 4,647,413 10,723,523 248 2,469,762 518,254 374,461 1,287,399 5,060,311 123,473,529 7,216,111 113,453 43,958 114,477 18,291,834 3,832,462 2,653.698 435,030 818,353 698,276 65,632 10,766,214 44,718,773 3,074,054 95,049 59,689 53,298 2,976,979 7,727,118 89,942 237,612 14,923,443 1,935,474 1,635,445 52,888 64,503 80,723 3,135,468 337,400 692,982 2,050,034 44,065 3,653,763 45.243,101 5,748,600 422,836 34,114 25,905 50,859 217,287 1,755,002 312 Commerce and Navigation o f the United States. v a l V A L U E OF EXPO BTS. C0UNTEIE8. P ap al S tates.................................. T w o S ic ilie s .................................. A ustria............................................. A ustrian possessions in I t a ly . Ionian R e p u b lic ........................... G reece.............................................. T u r k e y in E u rop e . . ............... T u r k e y in A s ia ............................ * E g y p t ................................................ O th er ports in A fr ic a ................ H a y ti................................................. San D om in g o................................. M ex ico .............................................. Central R e p u b lic ........................ N e w G ran ad a ................................ V en ez u ela ....................................... B ra zil................................................ U ru g u a y, or Cisplatine R e p ’b ’c B ueu’s A y r’ s or A r g ’ntine R e p ’c C hili................................................ P e r u ................................................ E q u a d or........................................... S an d w ich Isla n d s ......................... C h in a ................................................ O ther ports in A s ia .................... O th er Islands in th e P a c i f i c ... W h a le F ish eries........................... U n certa in places.......................... Total, year end. June 30,1857 U Total, “ 1856 «( Total, “ 1855 (( Total, “ 1854 “ Total, “ 1853 “ Total, “ 1852 it Total, 1851 “ Total, 1850 it Total, “ 1849 (t Total, “ 1848 (( Total, “ 1847 “ Total, “ 1846 « Total, “ 1845 M Total, “ 1844 Domestic produce. Foreign produce. Total. $1,093,951 1,130,217 1,042,848 $58,969 252,727 29,889 $1,152,920 1,382,944 1,072,737 187,975 339,506 28,163 2.308.165 2.216.147 42,283 3,017,640 116,299 1,770,209 1.360.148 5.268.166 976,370 1,202,376 2,473,228 449.733 34,546 803,084 2,019,900 7,389 70,776 195,364 410,282 28,163 2,484,746 2,535,664 44,349 3.615.206 137,021 2,037,689 1,427,578 5.545.207 1,006,172 1,313,807 2,907,185 507,932 37,176 947,433 4,395,130 642 72,987 517,268 29,509 176,581 319,517 2,066 597,566 20,722 267,480 67,430 277,041 29,802 111,431 433,957 58,199 2,630 144,349 2,375,230 642 72,987 496,258 29,509 21,010 338,985,065 310,586,330 246,708,553 253,390,870 213,417,697 192,368,984 196,689,718 136,946,912 132,666,955 132,904,121 160,637,464 102,141,893 99,299,776 99,715,179 23,975,617 16,378,578 28.448.293 24,850,194 17,558,460 17,209,382 21.698.293 14,951,808 13,088,865 21,128,010 8,011,158 11,346,623 15,346,830 11,484,867 362,960,682 326,964,908 275,156,846 278,241,064 230,976,157 209,658,366 218,388,011 151,898,720 145,766,820 154,032,131 158,648,622 113,488,516 114,646,606 111,200,046 . or im p ’ts. Total. $54,672 1,585,953 396,562 25,803 11,179 36,533 7,405 724,445 106,158 1,521.665 2,290,242 109,874 5,985,857 288,060 2,468,169 3,860,618 21,460,733 368,297 2,784,473 3,742,439 208,747 15,808 204,416 8,366,932 5,660 748 107,186 360,890,141 314,639,942 261,468,520 304.562,381 267,978,647 212,945,442 216,224,932 178,138,318 147,857,439 164,998,928 146,545,638 121,691,797 117,254,564 108,485,036 NAVIGATION. A STATISTICAL VIEW OF THE TONNAGE OF AMERICAN AND FOREIGN VESSELS ARRIVING FROM, AND DEPARTING TO, EACH FOREIGN COUNTRY, DURING THE YEAR ENDING Ju n e 3 0 t h , 1857 :— Entered U. States. Cleared U. States. Entered U. States. Russia on the Baltic & N. Seas Russia on the Black Sea......... 12,684 25,498 591 1,888 527 Russian possessions in N. Am. 2,239 604 6,701 1,661 1,890 949 3,432 1,719 983 21,834 7,266 31,470 1,606 C ountries , Sweden and Norway............... Swedish West Indies . . . . . . Denmark.................................... Danish West Indies................. H am burg.................................. Bremen...................................... 15,913 7,064 30,846 7,345 95 538 6,141 56,369 115,485 Cleared U. States. 2,716 280 2,440 1,334 5,592 2,113 2,157 46,451 87,919 Commerce and Navigation o f the United States. ,------- ame ; BICAN.------- * Entered Countries . U. States, H olland-.........1......................... Dutch West Indies................. Dutch Guiana ..................... Dutch East Indies................... B elgiu m .................................... E ngland.................................... Scotland.................................... Ireland...................................... Gibraltar................................... M alta......................................... Can ida............................... Oth’r British N. Am. possessions British West Indies................. British Honduras..................... British Guiana.................. British possessions in A frica . . British Australia..................... British East Indies................... France on the Atlantic............ France on the Mediterranean. French North Am. possessions French West Indies................. 20,805 8,861 8,024 7,575 36,970 1,047,046 31,835 2,710 2,525 14,017 1,240,159 138,640 75,690 6,413 9,368 8,965 8,015 109,030 192,190 31,014 French possessions in Africa. . Spain on the Atlantic.............. Spain on the Mediterranean. . Canary Islands......................... Philippine Islands..................... Cuba........................................... Porto R ic o ................................ Portugal..................................... Madeira...................................... Cape de Verd Islands............. Azores........................................ Sardinia.................................... 563 33,118 27,229 3,220 27,729 684,937 69,172 7,649 651 1,601 3,916 9,958 18,693 Two Sicilies............................. Austria....................................... Austrian possessions in Italy. 60,484 6,322 2,093 Turkey in A sia ........................ 9,952 Other ports in Africa............... Hayti.......................................... San Domingo............................. Mexico........................................ Central Republic..................... New Granada........................... Venezuela.................................. Brazil........................................ Uruguay, or Cisplatine Rep’b’c Buen’s Ayr’s or Arg’ntine Rep’c Chili............................................ P e r u .......................................... Equador.................................... Sandwich Islands...................... China.......................................... 6,553 1,298 14,824 53,104 1,504 27,291 37,901 136,232 24,921 108,209 2,289 16,376 14,372 123,031 625 16,742 67,042 Cleared U. States. 245 25,207 8,051 6,866 7,191 40,162 911,183 33,982 23,406 7,906 2,023 1,133,684 319,985 106,361 6,523 16,372 19,329 47,231 63,337 228,775 25,313 1,835 20,538 3,147 518 28,611 21,005 3,749 15,579 590,241 37,633 19,347 814 2,662 3,589 15,825 2 567 315 5,334 11,152 5,029 2,777 4,774 355 22,010 35,976 1,920 35,508 34,779 124,809 17,703 84,712 22,412 26,630 42,727 68,523 1,358 16,951 59,549 313 /--------- FOREIGN.--------- - Entered U. States. 147 10,062 774 1,374 507 16,715 344,889 68,825 16,575 5,133 2,648 1,105,356 382,712 34,134 2,122 3,716 573 1,859 4,754 36,993 7,780 2,132 4,828 5,197 29,697 1,811 1,769 61,808 11,012 4,669 396 785 908 7,808 5,739 20,339 2,118 294 470 182 tleared U . States. 26,282 485 806 1,420 14,854 388,792 49,422 22,690 870 960 1,104,650 461,245 24,970 3,556 4,387 1,835 5,587 6,375 20,500 9,055 4,597 1,906 196 10,075 67,686 1,090 1,472 14,293 3,550 12,063 528 545 1,582 6,027 3,119 1,045 469 320 2,783 '678 7,454 1,905 10,555 141 2,374 3,408 18,233 241 496 7,207 1,577 742 4,121 918 14,564 502 1,743 2,083 3,186 2,027 1,605 11,067 6,462 187 6,987 9,480 187 314 Commerce and Navigation o f the United States. Other Islands in the Pacific.. . Whale Fisheries. Uncertain places Total, year Total, Total, Total, Total, Total, Total, Total, Total, Total, Total, Total, Total, Total, ,---------- FOREIGN.---------- > Cleared Entered U. States. U. States. /-------- AMERICAN.---------, Cleared Entered U. States. U. States. C ountries . end. June 80 1857 “ “ 1856 “ “ 1855 u “ 1854 « < “ 1853 n “ 1852 u “ 1851 « “ 1850 “ “ 1849 « “ 1848 “ 1847 it “ 1846 u “ 1845 “ “ 1844 1,668 48,747 1,354 57,983 231 4,721,370 4,385,484 3,861,391 3,752,115 4,004,013 3,235,522 8,054,34 9 2,573,016 2,658,321 2,393,482 2,101.359 2,151,114 2,035,486 2,010,924 4,581,212 4,538,864 4,068,979 3,911,392 3,766,789 3,230,590 3,200,519 2,632,788 2,753,724 2,461,280 2,202,393 2,221,028 2,053,977 1,977,438 184 1,112 1,49G 2,464,946 2,486,769 2,083,948 2,132,224 2,277,930 2,057,358 1,939,091 1,775,623 1,710,515 1,405,191 1,220,346 959,739 910,563 906,814 2,490,170 2,462,109 2,110,322 2,107,802 2,298,790 2,047.575 1,929.535 1,728,214 1,675,709 1,404,159 1,176,605 968,178 930,275 916,992 SUMMARY STATEMENT OF THE VALUE OF THE EXPORTS OF THE GROWTH, PRODUCE, AND MANUFACTURE OF THE UNITED STATES, DURING THE YEAR COMMENCING ON THE 1ST DAY OF JULY, 1 8 5 6 , AND ENDING ON THE 3 0 t H OF JUNE, 1 8 5 7 . PRODUCT OF THE SEA. Fisheries— O il, s p e r m a ce ti.................... Oil, w h ale and o th e r fish. W h a le b o n e .......................... S p e r m a ce ti ........................ S p e r m a ce ti ca n d les......... Fish, d ried or s m o k e d .. . Fish, p i c k l e d ...................... $ 1 ,2 1 6 ,8 8 8 3 6 3 ,6 6 5 1 ,3 0 7 ,3 2 2 3 4 ,9 1 7 3 5 ,1 2 1 5 7 0 ,3 4 8 2 1 1 ,3 8 3 $ 3 ,7 3 9 ,6 4 4 P R O D U C T O F T I IE FOREST. Wood— S ta v es a n d h ea d in g......... S h in gles................................. B oards, plank, & scantling H e w n t im b e r ...................... O ther lu m b e r _____ ______ O ak bark and oth er d y e . A ll m an u fa ctu res o f w ood Naval stores— T a r and p itc h ...................... R osin and tu rp e n tin e ____ A sh es, p o t and p e a r l............ G i n s e n g .................................... Skins an d furs ...................... 2 ,0 5 5 ,9 8 0 2 1 2 ,8 0 5 4 ,1 7 0 ,6 8 6 5 1 6 ,7 3 5 6 3 8 ,4 0 6 3 2 2 ,7 5 4 3 ,1 5 8 ,4 2 4 2 0 8 ,6 1 0 1 ,5 4 4 ,5 7 2 6 9 6 ,3 6 7 5 8 ,3 3 1 1 ,1 1 6 ,0 4 1 1 4 ,6 9 9 ,7 1 1 PRODU CT O F A G R IC U L T U R E . O f animals— B e e f ...................................... T a l l o w .................................. H i d e s .................................... H orn ed c a t t l e ................... B u t te r .................................... C h e e s e ................................... 1 ,2 1 8 ,3 4 8 6 3 2 ,2 8 6 6 2 4 ,8 6 7 1 4 4 ,8 4 0 5 9 3 ,0 8 4 $2,805,867 4,511,442 5,144,195 19,007 5,525 195,627 171,189 22,758 Pork, (pickled,)................ Hams and bacon............. L a rd .................................. W ool.................................. H ogs.................................. Horses................................ M ules................................ Sheep................................. 16,736,458 Vegetablefood— W h e a t............................. Flour.................................. Indian corn....................... Indian-meal...................... Rye-m eal....................... Rye, oats, pulse, &c . __ Biscuit and ship b rea d .. Potatoes........................... Apples............................... Onions............................... Rice.................................... 22,240.857 25,882,316 0,184,666 957,791 115,828 680,108 563,266 .205,616 135,280 77,048 2,290,400 Cotton.................................... Tobacco ................................ Hemp..................................... 58,333,176 131,575,859 20,260,772 46,907 Other agricultural products— Flax seed.......................... Clover-seed..................... Brown sugar.................... H ops.................................. 525 830,166 190,012 84,852 bub ,555 M ANU FACTURES. 647,423 Refined sugar..................... 868,206 Commerce and Navigation o f the United States. W a x ...................................... Chocolate.............................. Spirits from grain................ Spirits from molasses......... Spirits from other materials Molasses............................... Vinegar ............................... Beer, ale, &c., in casks........ Beer, ale, <fcc., in bottles.. . Linseed o il........................... Spirits of turpentine........... Household furniture............ Coaches, railroad cars, tfcc.. Hats of fur or silk................ Hats of palrn-leaf............... Saddlery............................... Trunks and valises.............. Adamantine <fcother caudles Soap....................................... Snuff...................................... Tobacco, manufactured.. . . Gunpowder......................... Leather................................. Boots and shoes ................. Cables and cordage............. Salt........................................ Lead....................................... Iron, pig................................ Bar................................ Nails ....................... Castings o f................. All manufactures o f . . Copper brass, & manuf. of Drugs and medicines......... $ 9 1 ,9 8 3 I H em p , cloth and t h r e a d .. . B a g s <fc m anufac’s o f 1 ,9 3 2 | 1 ,2 4 8 .2 3 4 W ea rin g a p p a r e l................... 1 .2 1 6 ,6 3 3 E arthen and stone w a r e .. . 120,011 C om b s and b u tton s............... B rushes o f all k in d s............. 1 0 8 ,0 0 3 3 0 ,7 8 8 2 6 ,7 3 3 1 6 ,9 9 9 5 4 ,1 4 4 7 4 1 ,3 4 6 8 7 9 ,4 4 8 4 7 6 ,3 9 4 1 8 0 .7 1 4 7 3 ,4 9 4 4 5 ,2 2 2 3 7 ,7 4 8 6 7 7 ,3 9 8 5 3 0 ,0 8 5 1 1 ,5 2 5 1 ,4 4 7 ,0 2 7 3 9 8 ,2 4 4 4 9 7 .7 1 4 8 1 8 ,9 9 5 2 8 6 ,1 6 3 1 9 0 ,6 9 9 6 8 ,6 2 4 5 3 ,3 9 0 6 4 ,5 9 6 2 7 9 ,3 2 7 2 8 9 ,9 6 7 4 ,1 9 7 ,6 8 7 6 0 7 ,0 5 4 8 8 6 ,9 0 9 ] B illiard tables & apparatus. I U m b rella s and parasols . . M orocco and leath er n ot sold b y the p o u n d ...................... Fire-engines............................... P rin tin g presses and t y p e . . M usical instrum ents............ B ook s and m a p s ...................... P a p er and s ta tion e ry ............. Paints and va rn ish ............... J e w e lr y , real and m o c k . . . G o ld and silv er an d g o ld leaf, (m an ufactures o f , ) . . i G lass............................................ T i n .............................................. P e w te r an d le a d .................... M arble and s to n e ................. | B ricks and lim e ...................... i In d ia-rubber b oots and shoes India-rubb’r, all m anufac’s o f L a rd -oil....................................... | O il ca k e...................................... $ 1 ,0 6 6 3 3 ,6 8 7 3 3 3 ,4 4 2 3 4 ,2 5 6 8 9 ,7 9 9 7 ,3 2 4 738 6 ,8 4 6 2 ,1 1 9 2 1 ,5 2 4 5 2 ,7 4 7 1 2 7 ,7 4 8 2 7 7 .6 4 7 2 2 4 ,7 6 7 2 2 3 ,3 2 0 2 8 ,0 7 0 1 5 ,4 7 7 1 7 9 ,9 0 0 5 ,6 2 2 4 ,8 1 8 1 1 1 ,4 0 3 68,002 3 3 1 ,1 2 5 3 1 2 ,3 8 7 9 2 ,4 9 9 1 ,1 8 6 ,9 8 0 9 ,8 3 8 ,4 8 5 1 7 ,0 0 8 ,4 8 9 Cotton'piece goods— P rinted or c o lo r e d ............ W nite, oth er than d u c k . . D u c k ...................................... A ll m an ufactures o f . . . 315 1 ,7 8 5 ,6 8 5 3 ,4 6 3 ,2 2 0 2 5 2 ,1 0 9 6 1 4 ,1 5 3 C o a l ............................................ I c e ................. ........................... 6 1 6 ,8 6 1 2 1 9 ,8 1 6 G o ld and silver coin .............. G o ld and tilv er b u l l io n .. . . Q u ic k s ilv e r .............................. 2 8 ,7 7 7 ,3 7 2 3 1 ,3 0 0 ,9 8 0 6 6 5 ,4 8 0 Articles not enumerated— M a n u fa ctu red ................... R a w p r o d u c e .................... T ota l 6 ,1 1 5 ,1 7 7 8 ,2 9 2 ,7 2 2 1 ,2 6 6 ,8 2 8 3 3 8 ,9 8 5 ,0 6 5 SUMMARY STATEMENT OK THE VALUE OF GOODS, WARES, AND MERCHANDISE, IMPORTED INTO THE UNITED STATES I N AMERICAN AND FOREIGN VESSELS DURING THE FISCAL YEAR ENDING JUNE 30TH, 1 8 5 7 . FREE OF DUTY. Species of merchandise. A nim als for b r e e d .................... Bullion — G o l d .......................... S ilv er........................................ Specie— G o ld ........................... S ilv e r............................... Cabiuets o f coins, < tc............... M odels o f inventions, <fcc.. . . T ea s................................................ C offee............................................. Copper— In p lates................... O r e ............................................ C otton, unm anufactured . . . A d h esive felt for vessels . . . Paintings, <fcc., o f A m . artists. Value. i $ 4 8 ,3 4 5 1 5 1 ,5 8 5 3 3 5 ,1 1 4 6 ,5 0 3 ,0 5 1 6 ,4 7 2 ,0 4 9 247 2 ,9 9 7 5 ,7 5 7 ,8 6 0 2 2 ,3 8 6 ,8 7 9 3 5 1 ,3 1 1 1 ,4 4 0 ,3 1 4 i 6 2 ,1 7 2 2 0 ,1 5 6 ! 9 3 ,0 0 2 Species of merchandise. S pecim en s nat’ l history, <kc.. S h ea th in g m e ta l...................... P la tin a , u n m a n u fa c tu r e d ... P laster, u n grou n d..................... W eari’g ap’ ar'l o f em ig r’nts rise O ld ju n k and o a k u m ............... G a rd ’n seeds, trees, plan ts, etc P rod u ce o f U n ited S t a t e s .. . G u a n o ............................................ A rtic le s fo r co lle g e s , <fec.. . . A ll oth er a rticles fre e o f d u ty T o t a l.......................................... Value. $ 3 ,2 4 0 1 4 8 ,3 7 2 5 3 ,7 1 4 9 0 ,1 6 8 4 1 3 ,7 8 0 8 5 ,4 5 9 8 8 6 ,5 0 4 1 ,2 0 1 ,4 7 6 2 7 9 ,0 2 6 6 1 ,0 7 5 2 0 ,7 8 1 ,4 1 1 $ 6 6 ,7 2 9 ,3 0 6 316 Commerce and Navigation o f the United States. MERCHANDISE PAVING DOTIES AD VALOREM. Species of merchandise. Value. Manufactures o f wool— Piece goods, wool, & cotton.. . $11,009,605 Shawls of wool, wool and cotton, silk, <fc silk & cot’n 2,246,351 Blankets.............................. 1,630,973 Hosiery, (fee....................... 1,740,829 Worsted piece goods, (fee . 11,365,669 Woolen and worsted yarn. 192,147 Manufactures, not specified 693,640 105,779 Flannels.............................. Baizes and bookings... . . . . . 119,835 Carpeting— Wilton, Saxony, Aubusson, Brussels, Turk’y, treble-ingrain’d, V e netian <fe other ingrained 1,784,196 Not specified................... 397,094 Manufactures o f cotton- Piece g o o d s .............................. 21,441,082 V e lv e t s .............................. 678,294 Cords, gimps, <fec............... 213,824 Hosiery, <fec....................... 3,210,287 Twist yarn and thread.. . 1,401,153 Hatters’ plush................... 11,473 Manufactures, not specified 1,729,613 Silky and manufactures o f — Piece goods......................... 22,067,369 Hosiery, (fee........................ 839,299 Sewing s ilk ....................... 211,723 Hats and bonnets............. 151,192 Manufactures not specified 4,442,522 30,612 Floss.................................... Raw..................................... 953,734 Bolting cloths................... 57,602 Silk and worsted piece goods 1,580,246 Goats’ hair, <fec., goods........... 503,993 9,975,338 Manufactures o f fla x —Linens Hosiery, <fec....................... 6,912 Manufactures, not specified 1,459,292 Manufactures o f hemp—Ticklenburgs, osnaburgs, (fee. 130,864 Articles not specified........ 360,469 Sail duck, Russia, (fee . . . . 14,180 Cotton-bagging................. 14,069 Clothing— Ready-made . . . . 347,471 1,571,517 Articles of wear................. Laces—Thread & insertings.. 321,961 Cotton insertings, trim mings, laces, braids, (fee. 1,129,754 Embroideries.......................... 4,443,175 Floor-cloth............................... 9,524 Oil cloth.................................. 34,761 Lasting and mohair cloth. . . 99,034 Gunny cloth and bags........... 2,139,793 Matting, Chinese, (fee. of flags 207,587 Hats, caps, & bonnets—Flats, braids, plaits, (fee., of leg horn, straw, chip, or grass, (fee.......................... 2,246,928 M anuf act's o f iron <£ steel— Muskets and rifles............. 61,170 Fire-arms not specified.. . 541,175 Side-arms............................ 5,294 9 Species of merchandise. N eedles.............................. Cutlery................................ Other manufact’ s & wares. Cap or bonnet wire........... Nails, spikes, tacks, (fee.. . Chain cables....................... Mill saws, cross-cut, (fe pit. Anchors and parts thereof. Anvils and parts thereof.. Iron, bar.................................. Rod................................ H oop............................. Sheet.............................. Pig.................................. Old and scrap............... Railroad....................... Steel— Cast, shear, & German All oth er.................. Copper, & manufactures o f — In pigs, bars, and old . . . . Wire .................................. Braziers’ .............................. Copper bottoms................. Manufactures, not specified Rods and bolts................... Nails and spikes............... Brass, db manufactures o f — In pigs, bars, and old........ W ire................................. Sheet and rolled................. Manufactures, not specified Tin, and manufactures o f — In pigs and bars............... Plates and sh eets............. F oil............................... Manufactures, not specified Lead, and manufactures o f — Pig, bar, sheet, and o ld .. . S h o t.................................... P ip e s .................................. Manufactures, not specified Pewter— O ld ......................... Manufactures o f................. Zinc, and manufactures o f — In pigs.................................. S h eets................................ Nails.................................... Spelter.................................... Manufact's o f gold & silv'r— Epaulets, wings, laces, gal loons, tress’s, tassels, (fee. Gold and silver le a f......... Jewelry, real or imitati’n of Gems, set........................... Otherwise. .......................... Manufactures, not specified Glaziers’ diamonds............... Clocks...................................... Chronometers.......................... Watches, and parts o f ........... Metallic pens.......................... Pens, in packs and otherwise Value. $250,320 2,140,824 4,475,545 6,168 188,756 293,124 47,297 32,980 67,926 4,423,935 809,901 324,675 1,082,389 1,001,742 111,680 7,455,696 1,775,292 858,322 1,659,513 681 1,355 4,390 166,704 20 1,723 18,153 4,863 68 199,928 1,023,210 4,789,538 21,426 31,922 2,305,768 15,437 128 2,076 3,874 570 44,764 546,250 2,453 447,812 40,438 29,509 503,653 4,437 390,357 78,131 898 79,147 16,442 3,823,039 108,661 56,110 Commerce and Navigation o f the United States. Species of Merchandise. Buttons, metal....................... A ll other and m o ld s ........... Glass, & manufactures o f— Silvered............................... Paints on glass, porcelain, and colored................... Polished plate................... Manufactures, not specified Glassware, cut................... Plain.................................... Watch c r y s ta ls .............. Bottles................................ Demijohns........................... Window glass................... Pager, & manufactures o f— Writing paper................... Playing cards................... Papier mache, wares of . . Paper hangings................. Paper boxes & fancy boxes Pap’r, & manuf’s, not spec’d Blank books....................... Parchment............................... Print'd b’ks, magazin's &c.— In English......................... In other languages........... Periodicals & newspapers. Periodicals and works in republication................. Engravings.............................. Mathematical instruments.. Musical instruments............. Daguerreotype plates........... Ink and ink powders............. Leath’r, & manufactur e o f— Tanned, bend, sole <fc upp’r Skins, tanned and dressed. Skivers................................ Boots and shoes................. G lo v e s................................ Manufactures, not specified Wares — China, porcelain, eaithen, and stone......... Plated or gilt..................... J a p a n n e d ...-.................... ' Britannia........................... Silver plated metal............... Silver or plated wire........... Saddlery— Common, tinned, or japanned..................... Plated, brass, or polished steel................................. Furs— Undressed on the skin Hatters’ furs,dressed or un dressed, not on the skin. Dressed on the s k iu ......... Manufactures of fur.......... Wood,manufactures o f—Ca binet and househ’d furn’re. Ced’r, mahog’y, rose & satin W illo w ................................ Other manufactures o f . . . . Value. $13,178 912,871 243,762 33,783 625,061 142,904 112,940 79,738 32,170 39,226 30,399 641,093 843,240 17,281 33,948 264,591 36,900 178,228 18,884 6,750 663,597 179,084 30,497 326 182,369 34,925 494,374 10,968 47,734 1,606,458 809,273 68,194 127,661 1,559,332 459,161 4,037,064 160,824 46,333 8,984 1,993 2,948 82,731 195,164 618,792 1,572,388 214,405 49,955 47,696 15,185 175,484 391,179 Species o f merchandise. 317 Value. Wood unmanufac'd - - Cedar, gren a d ’a, m a h og’y , rose, and satin ............................. $ 518,251 W illo w ...................................... 41,7 73 29,457 F ire w o o d and o th e r........... D y e w o o d in stick ................ 866,048 Bark o f the cork tree— C orks. 209,672 U n m a n u fa ctu red ................... 17,692 Ivory— M anufactures of. . . . 17,239 U n m a n u fa ctu re d .................. 507 ,48 3 Marble— M anufactures o f . . . . 25,253 U n m a n u fa ctu re d .................. 201,978 111,211 B u rr-ston es.................................. Q u ick silv er.................................. 961 Brushes and b ro o m s ............... 283,968 B lack lead pencils . . . . . . . . . 88,089 Slates o f all kinds..................... 96,176 R a w hides and sk in s............... 10,010,090 B oots & shoes not o f leather. 30,626 India r a iic r -M a n u fa c tu r ’s o f 180,585 U nm anufactured................... 832,058 Hair— m anufactures o f........... 129,571 U n m a n u fa ctu re d .................. 453 ,70 5 Grass c lo t h .................................. 43,804 U m b rella s, parasols, a n d sun shades o f silk and o th e r. 65,360 Unmanufactured articles— F la xseed or linseed......... 3,003,824 A n g ora , T h ib et, dsother hair 575 W o o l........................................... 2 ,125,744 Wines, in casks— B u rg u n d y . 21,627 M a d eira ..................................... 65,880 364 ,90 6 S h erry and St. L u e a r .......... P o r t ............................................ 4 07 ,56 4 C la re t......................................... 669,403 Teneriffe and other C an ary 565 F a y a l and oth er A z o r e s ..-. 4 ,704 S icily & other M editerra’n . 133,894 A u stria ifc oth er o f G erm a ’y 27,259 R e d w ines n ot enu m erated. 500 ,52 7 W h ite w in es “ “ 2 52 ,58 4 Wine, in bottles— B u rg u n d y .. 7,064 C ham pagn e............................... 1,148,469 M a d e ira ..................................... 2,734 11,139 S h e r r y ....................................... P o r t ............................................ 16,837 C la r e t ......................................... 365,807 A ll o th e r .................................. 2 73,242 Spirits, foreign distilled— B ra n d y ....................................... 2,527,262 F rom grain............................... 1,125,160 F rom other m ateria ls.......... 218,907 C ord ia ls ..................................... 92,396 Beer, ale, & porter — In ca sk s. 2 21,290 In b ottles.................................. 6 28,550 H o n e y ............................................ 202,436 M olasses......................................... 8,259,175 Oil and bone, o f fo r. fishing — S p e r m a c e t i............................... 413 W h a le and oth er fish .......... 17,280 W h a le b o n e ............................... 252 Oil— O live, in casks................... 74,0 28 318 Commerce and Navigation o f the United States, Species of merchandise. In b o ttle s .................................. C a s to r......................................... L inseed ..................................... R a p eseed & h em p seed . . . P a l m ......................................... N ea tsfoot & other anim al.. E ssential o ils ........................... Tea d' coffee from places other than o f product7n, not ex cepted by treaty — T e a . . C o ffe e ......................................... C o c o a .............................................. Sugar— B r o w n ........................... W h ite, cla y e d , or p o w d ered L oa f, and other refined....... C a n d y ...................................... S iru p o f s u g a r c a n e ............ Fruits — A lm o n d s ...................... Currants.................................... P r u n e s ....................................... P lu m s ........................................ F i g s ................................- _____ D a t e s ......................................... Raisins .................................... Oranges, lem ons, & lim e s . O ther green fruit................... P reserved fruit........................ N uts ......................................... Spices— M a c e ............................. N u tm eg s ................................ C in a m on .................................... C l o v e s ....................................... P ep p er, b la c k ........................ read ...................... P im e n to .................................... C a s sia ........................................ G inger, grou n d ........................ r o o t ............................. Camphor— C ru d e ...................... R e f i n e d ..................................... Candies— W a x & sperm aceti. S te a rin e .................................... C h e e s e ............................................ Soap— P e r fu m e d ........................ O ther than p erfu m ed . . . . T a l l o w ............................................ S t a r c h ............................................ A r r o w -r o o t .................................... B u t t e r ............................................ L a r d ................................................ B e e f and p ork ........................... H am s and oth er b a c o n ............ B ristles........................................... Saltpeter— C r u d e ...................... R efin ed, or p a r t ly .................. I n d ig o ....................... W oad or p a s t le ........................... C och in ea l....................................... M a d d e r........................................... Value. $ 347,396 102,502 958,200 11,601 337,881 153 146,872 17,315 39.879 187,016 42,614,604 86,820 68,906 1,887 4.284 209,606 151,418 109,994 118,059 212,207 17,04 8 937 ,46 0 640,544 151,587 102,557 183,144 26,754 254,637 18,865 65,332 279,287 2,460 241,503 201,883 32 44,123 56,314 34 9,667 62,187 143,821 51,507 139,926 12,507 6,695 25,751 18,654 420 2,614 7,204 289,581 1,156,4 63 362 1,010,503 1,201 440,707 1,375,472 Species of merchandise. Value. Gums—Arabic ,Senegal, &c.. $143,380 Other gums......................... 456,432 B»rax........................................ 94,844 6,446 Copperas................................... Verdigris.................................. 9,690 Brimstone—Crude.................. 152,330 R o lle d .................................. 12,305 Chloride of lime or bleaching powder................................. 320,895 Soda ash................................. 1,084,021 86,483 Soda sal................................... Soda carb................................. 424,024 Barilla....................................... 31,018 Sulphate of barytes................. 48,567 Acids, acetic, & c ................... 78,271 Vitriol— Blue or R om an.. . . 5,834 Oil of..................................... 98 249,964 Sulphate of quinine............... Licorice—Root......................... 42,091 Paste.................................... 392,552 Bark— Peruvian Q u illa ... 386,252 O ther................................... 258,605 Ivory and bone black............. 289 Opium....................................... 463,452 Glue.......................................... 23,571 9,683 Gunpowder............................. Alum ...................................... 24,536 Tobacco— Unmanufactured . . 1,358.835 2,626 Snuff..................................... Cigars............................... 4,221,096 18,898 Other manufactured........... Paints—Dry ochre ............. 16,253 Red and white l e a d ......... 113,075 Whiting and Paris w hite.. 29,167 Litharge.................................. 17,721 Sugar of le a d ......................... 55,795 Cordage—Tarred and cables. 92,099 Untarred............................. 64,433 Twine and seines.................... 59,957 Hemp— Unmanufactured . . . 423,533 Manilla, sun, & other India 12,353,891 Jute, Sisal grass, coir, <fec.. 334,328 Codilla, or tow of h’mp or fl’x 92.520 220,738 Flax, unmanufactured........... Rags of all kinds..................... 1,448,125 Salt.......................................... 2,032,583 Coal.......................................... 772,663 Breadstuffs— Wheat.............. 909 Barley.................................. 3,068 110 Oats...................................... Wheat flour........................ 477 Rye meal........................... 2,070 O a t m e a l......................... 559 Potatoes................................. 87,572 Fish— Dried or smoked. . . . 96,607 Salmon................................. 3,949 Mackerel.............................. 144 Herrings and shad............. 49,213 All other............................. 4,633 The total of the above enumeratec merchandise paying duties ad valorera amounts to $285,221,377. The value of merchandise not enumer- The Contract o f Suretyship: Mercantile Guaranties. 319 ated in the preceding abstract amounts to $8,949,458, as stated in the annexed table, which exhibits its classification in respect to the rate of duty under the tariff of 1846, and in respect to its mode o f importation: Am. vessels. For. vessels. A t 5 per ce n t.. . $1,056,695 $290,829 A t 10 p e r c e n t ... 531,806 114,210 A t 15 per ce n t.. . 1,399 299 A t 20 per cen t.. . 2,438,328 1,166,439 Total.............................................. Aggregate of these items.......... Am. vessels. For. vessels. At 25 per cen t.. . A t 30 per cen t.. . A t 40 per cen t.. . $146,090 1,460,207 361,320 $87,403 1,164,438 180,495 .................................................... $5,995,845$2,943,613 .................................................... $8,939,468 RECAPITULATION OF IMPORTS DURING YEAR. Total enumerated merchandise free of duty........................................... Total enumerated merchandise payingduties......................................... Total uuenumerated merchandise paying duties.................................... Total o f all imports in year ending June 30, 1857 66,729,306 285,221,877 $8,939,458 $360,890,141 AMOUNT OF IMPORTS IN EACH CLASS OF VESSELS. Imports in Imports in American vessels. Foreign vessels. Payingduties ...................................... Free o f d u t y ........................................ $213 639,928 46,476,242 $80,620,907 21,253,064 Total............................................. $259,116,170 $101,773,971 Total value o f imports. $294,160,835 66,729,306 $360,890,141 Art. VI.— THE CONTRACT (IF S U R E T Y S H I P M E R C A N T I L E GUARANTIES. T h e contract of suretyship, or guaranty, is a contract by which one person undertakes to become answerable for the payment of some debt, or the performance of some act, in case of the failure o f another person, who, as principal, is primarily liable for the payment o f such debt or the performance of the act covenanted or ageed to be done. It is an accessory agreement requiring a third party, or principal, to be held primarily liable, otherwise no responsibility attaches to the surety. As the under taking of the surety relates to the same matter as the principal obligation, it follows that it cannot exceed the principal obligation, either in the amount of liability or the terms of performance ; it may, however, be less. By the civil law, a surety could only become bound by a stipulation, which was the highest and most authentic contract known to that law ; but by the common law, the contract could be made orally, until, by the statute 29, Charles II., chapter 3, section 4, the legislature required the authentication of the agreement to be in writing. This statute, which has been adopted in this country, is known as the statute of frauds, and enacts that, “ upon any special promise to answer for the debt, default, or miscarriage of another person, the agreement, or some memorandum, or note thereof, must be in writing and signed by the party to be charged there with, or some other person thereunto by him lawfully authorized.” The statutes of the State of New York, and of some others, not only require the special promise to be in writing, but also the agreement expressing the consideration for which the engagement is undertaken. In the ab sence, however, o f any statute law requiring the consideration to be expressed in the undertaking o f the surety, the prevailing decisions are to the effect, that the written agreement need not contain the considera 320 The Contract o f Suretyship: Mercantile Guaranties. tion ; and for the simple reason, that there can be no valid agreement without a consideration. The criterion to determine whether a contract must be in writing or not, is whether it be an original or collateral undertaking. If it be the latter, it must be by a person not before liable for the default of some other person liable at the time; the true test is to ascertain whether the person for whom the undertaking is made is liable at all. If no liability exists on the part of the person for whom the promise is made, and no action could be maintained against him, then it is an original undertak ing, and does not come within the statute. As if A promise B, being a merchant, that if he will furnish goods to C he (A ) will pay for them, this becomes immediately the debt of A, and need not be in writing; but if A promise B in such a case, that he will pay him if 0 does not, the under taking is collateral and within the statute. A careful eollatiop of the cases, relating to this question, clearly shows the rule to be as stated by Parsons, in his admirable work on contracts:— that where the promise to pay the debt of another is founded upon a new consideration, and this consideration passes between the parties to this promise, and gives to the promiser a benefit which he did not enjoy before, and would not have possessed but for the promise, then it will be regarded as an original promise, and therefore will be enforced, although not in writ ing. A promise to pay a note secured by attachment, in consideration o f the suit being withdrawn is within the statute, and must be in writing, in order to bind the promiser. But where a third person, in consideration that the judgment debtor would deliver him his goods, and that the creditor would discharge the judgment, promised to pay the amount of such judgment, it was held to be an original promise. A promise of indemnity, to be within the statute, must be collateral to the liability of some other person to the same party to whom the promise is made ; and in the absence of all evidence showing such liability, the promise will be treated as an original one. Until recently it has been a mooted question whether the undertaking o f a factor, selling under a del credere commission, should be in writing to make it valid within the statute. But it is now pretty well settled that the factor, although only a surety and liable only in the default of the principal debtor, still his promise to pay the debt of another is valid, although not in writing. Where a proposition is made to guaranty the payment of a debt of another to be contracted in future, reasonable notice must be given to the guarantor that his guaranty is accepted. Such notice, however, will not be required where the acceptance and the guaranty are simultaneous. Let ters of credit and commercial guaranties are not negotiable, nor is a guaranty indorsed on a negotiable promissory note, and it cannot be sued on by a subsequent holder in his own name. W e have already stated that the undertaking of the surety cannot exceed the principal obligation. In the absence of any express limitation the liability o f the surety will be deemed co-extensive with that of the principal. If the surety be bound by a contract, under seal, for the performance of some act by his princi pal, the condition o f the obligation is always restrained by the recitals. If one becomes bound for the good conduct and faithful service of another, upon his appointment to some office or employment, his liability will be co-extensive with the duration o f the office, whether the office be an an nual one, or for a term o f years, or for life. The Contract o f Su retysh ip: Mercantile Guaranties. 321 The liability of the surety cannot be enlarged, extended, or modified without his consent, nor, if he be bound for the fidelity o f his principal in one office or employment, can his responsibility be made to extend to a different office or employment. The Supreme Court of the United States, (9. Wheat, 680,) have decided in a case where a bond was given conditioned for the faithful performance o f the duties o f the office of Deputy Collector of direct taxes for eight certain townships, and the in strument of the appointment, referred to in the bond, was afterward altered so as to extend to another township, without the consent o f the sureties, that the surety was discharged from his responsibility for moneys subse quently collected by his principal. And Mr. Justice Story, in delivering the opinion of the court said, “ nothing can be clearer, both upon principle and authority, than the doctrine, that the liability of a surety is not to be extended, by implication, beyond the terms of his contract. To the ex tent, and in the manner, and under the circumstances, pointed out in his obligation, he is bound, and no further. It is not sufficient that he may sustain no injury by a change in the contract, or that it may be even for his benefit. He has a right to stand upon the very terms of his contract; and if he does not assent to any variation o f it, and a variation is made, it is fatal.” If the liability of the surety be varied by the act o f the per son to whom the surety is bound, without the knowledge or consent of the surety, the surety is discharged. A valid agreement made between the creditor and principal debtor, without the assent of the surety, by which the rights or remedies of the latter are in any way changed or de layed, will operate to discharge h im ; though not apparently prejudicial to his interest. As if time be given to the principal debtor by a valid agreement, which ties up the hands o f the creditor without the assent of the surety, though but for a day, the surety will be discharged. A cre ditor may extend some indulgence to the principal debtor without there by discharging the surety, and it is well settled that mere delay without fraud, and without any agreement founded upon a sufficient consideration to amount in law to an estoppel upon the creditor, sufficient to prevent him from bringing a suit before the expiration of the extended time, does not discharge the surety. A parol agreement to extend the time o f pay ment, will not discharge the surety, when the principal obligation is under seal, inasmuch as a deed cannot be varied except by an obligation of equal solemnity. But if the creditor by an indorsement on a bond under seal given for the payment of a debt on a given day, extends the time of payment, this is such a material variation, as to amount to the sub stitution of a new engagement in place of the original contract, and dis charges the surety. As fraud vitiates all contracts, so if there be any fraud, concealment, or false representations on the part of the principal, by which the surety is induced to enter into the obligation, and the person guarantied is privy to this fraud, the contract of the surety is absolutely void. The surety, upon default of the principal, may step in and discharge the liability, and have recourse to the principal for indemnity. And if several persons become co-sureties for another, and one o f such sureties discharges the liability of the principal, after the principal’s default, he may compel his co-sureties to contribute their several proportions to reimburse him. 21 VOL. X X X V III.---- S O . III. 322 Journal o f Mercantile Law . JOURNAL OP MERCANTILE LAW. BOTTOMRY— ANTECEDENT DEBT— PO W ER OF MASTER— RATIFICATION BY OWNER. United States District Court—in Admiralty, January 6, 1857. Before Judge Betts. John Gardner, et at., vs. the bark White Squall. The bark White Squall, commanded by E. J. Harding, master, sailed from New York for San Francisco on the 17th of February, 1855, and on the 25th of March thereafter put into Kio Janeiro in distress for repairs. The master con signed the ship to Graham, Bros. & Co. Endeavors were then made to obtain money by bottomry sufficient to make the repairs and outfit necessary to ena ble the ship to prosecute her voyage to San Francisco. The surveyors of the ship estimated the amount necessary at £2,500 sterling; but no loan could be obtained at a less premium than 75 per cent. The master wrote to the owners for directions from them and the underwriters. None had been received on the 1st of July. In the meantime, the vessel having been made nearly ready for sea, a call, by notice through the papers, was again made for an offer of a loan on bottomry to continue the voyage to San Francisco, to be addressed to the Consul’s office. No offer being given, the master then advertised for such loan to bring the vessel with her cargo back to New York, but obtained none for that voyage either. The master had sold part of the ship’s cargo and applied the proceeds towards the repairs, and entered into a contract of charter for the vessel, when Mr. Lang came to Rio as agent of the owners and brought £2,200 sterling, which was also expended upon the debts contracted for the repairs. Soon after Lang’s arrival, Harding left the ship as master, and Burke, her first mate, was on the 1st of October appointed by Lang, master in his place. He executed the bot tomry bond on the 5th of December, 1855. The vessel had been ready for sea for about five months. Burke executed the bond under the direction of Lang, without any knowledge of the necessities of the vessel, but because he was told that Lang must have more money. Upon the facts in proof the master had no authority in law to give the bot tomry hypothecation in question. The debts all accrued from separate credits given the master of the vessel, or her consignees, by mechanics, material men, and others, and were entirely incurred a very considerable period before the treaty for this hypothecation was on foot with the bottomry lender. These facts were notorious. It was, therefore, well understood that the loan was made to extinguish antecedent debts not contracted under any assurance or expectation of a bottomry security, and was not made to the creditors themselves, but to others who bought in the debts in effect as an abatement of 33J per cent from the amount. The master could not bind the ship, her cargo, and freight, to the satisfaction of such debts. (8 Peters, the Virgin; 1 Wheat., 96, the Angra; Abbot, 200, [note 1,] 1 Peters, 386.) But although the bond was signed by the master yet he acted in the matter under the direction o f the agent of the owners, and not on his own judgment and discretion. This agent was sent to Rio by the owners with funds for the use of the vessel, and, as must be implied, with general powers to act for the owners in respect to the ship. He displaced the original master and substituted another. He called in the bills of the ship, had them all adjusted, and authorized a com position with the creditors. He then arranged with the consignee o f the ship for her hypothecation, for the purpose of raising money to satisfy the debts still outstanding. After the bottomry hypothecation was made, he had all the papers, including the protest of the master and crew, the particular bills and vouchers for all the expenses o f the ship at Rio, with the bottomry bond, transmitted to the owners. They laid these documents before the adjuster o f general averago at New York, and obtained from him a computation and allowance of Journal o f Mercantile Law . 823 their share of the general average, and claimed and received that share from the underwriters. These facts in my judgment import that Lang possessed all the power o f the owner to hypothecate the vessel, or at the least, if such powers were not origin, ally conferred upon him, that the owners ratified and assented to their exercise after being fully advised of his acts and the facts upon which he acted. (Story’s Agency, g 239. The authority o f an owner to bottomry his ship at home or abroad without regard to her necessities seems no longer a question with the authorities. (Abbott 192, note 1 ; 3 Kent, 361 [6th ed.] Flanders on Maritime Law, § 253.) The principal cannot be allowed to screen himself from the un favorable consequences following the doings o f his agent after taking to himself the benefits secured by them. (Story’s Agency, 250, 253, 258.) The libelants are accordingly entitled to a degree in their favor for the due enforcement of the bond. FORECLOSURE OF MORTGAGE— PL E A OF USURY. Supreme Court, New Tork, November, 1857. David Banks vs. Peter Yan Antwerp and wife. Before Judge Roosevelt. This case came up on motion for a judgment in a case of the foreclosure of a mortgage, to which was put in a plea of usury. R o o s e v e l t , Justice.—Usury as a defense standing upon the same footing in principle as an action for the recovery o f a penalty or forfeiture, the party setting it up must aver clearly every particular necessary to such a recovery, and must distinctly negative every supposable fact which, if true, would render the trans action innocent or lawful. In the present case the defendants allege that the mortgage sought to be foreclosed, although dated on the first of the month, was not in fact executed until the 24th of August, 1846; that it was made to secure the principal sum of §3,000 loaned to the defendant, Yan Antwerp, on the 26th of August, 1846; that it was so dated on the first of the month for the purpose of reserving a greater rate of interest than seven per cent, and that the plaintiff did thereby reserve to himself for the loan, fourteen dollars above the lawful rate. There is no averment, it will be observed, that the fourteen dollars which constitute the grievance of the offense charged, were ever exacted or paid, and no interest is now claimed as due for the nine years prior to 1855. The de fendants in effect admit, that the eighteen instalments of interest, whatever they were accruing prior to that day, were satisfactorily arranged and paid. The idea of recovery, therefore, is clearly an afterthought— it savors strongly o f the nature of what the law denominates “ stale demand,” and which the Courts, es pecially when sitting in equity, invariably discharge. Besides, the defendants’ answer, so far as it alleges facts and not inferences—may be perfectly true, and yet the loan may have been, as it possibly was, engaged, and the money actually set apart in bank, in the first days o f the month, the intermediate three weeks being devoted to the preparation of the papers and the examination of the title. The question then is, does such a transaction—one o f every-day occurrence— not on Wall-street—but among legal conveyancers, constitute in law a misde meanor? For the same statute, the one passed in 1837, which is evoked to make it void as a contract, if applicable, equally makes it punishable with fine and imprisonment as a criminal offense. In other words the act done, if void, is for the same reason criminal, and if not criminal, is for the same reason not void ; can any one then, I repeat, imagine that the Legislature intended that dating a bond on the day o f the loan was to be punished with imprisonment if the moriev, although actually engaged and actually in, and kept in bank, was not actually paid over till the expiration of the usual time allowed and required for the ex amination of the borrower’s litle ? And that the offense then was to be deemed of such a heinous character that, unlike other cases of penalty and forfeiture which are required to be presented, (if at all within three years,) this may in effect be prosecuted within nine or even ninety years after alleged commission. It is the practice, I am aware, to underrate the intelligence and good sense of 324 Journal o f Mercantile Law . our legislative bodies. The practice has, however, been considered as demon strating neither the good sense nor the intelligence, certainly not the good taste, of those who indulge in it. Courts at all events may be excused for not pur suing it. I shall assume, therefore, until otherwise instructed, that the Legisla ture of 1837, whatever may have been their views of public policy, did not intend to enact an absurdity, not to say atrocity, such as the present defense implies. Judgment for the plaintiff, with costs. PATENT BEAN DUSTER— INJUNCTION DENIED. United States Circuit Court, September 10, 1857. Before Judge Nelson. Henry A. Burr and others vs. Francis E. Smith and others. This case, which occupied the Court two days, is in equity. It is brought by the owners of the Frost & Munroe bran duster, claiming as the assignees of a patent granted to Frost & Munroe, in 1849, and re-issued in 1855, to restrain the defendants from using in their mills in Brooklyn and in Williamsburg the Bradfield bran duster. The papers were voluminous and the discussion of counsel prolonged and earnest. Mr. Samuel Blatchford and Mr. Charles M. Keller for plaintiffs; Mr. J. Neilson and Mr. E. W . Stoughton, for defendants. The Judge denied the motion, stating his reasons for so doing substantially as follows:— As the case stood on the bill and affidavits, he did not think it one in which a preliminary injunction could reasonably be granted. Neither the question of novelty nor that of infringement justify such an interposition until there has been an opportunity afforded for a full hearing of the case. In reference to the plaintiffs’ patent, the third claim is for “ the upright stationary bolt, or bolt and scourer, combined with the closed-up top, except for air and material, or in com bination with first, second, and fourth, or either of them, or their equivalents, to produce like results in the flouring process.” That is a very obscure and in definite claim, and there is no evidence in the case showing an infringement as the defendants use a revolving bolt, and as there is no such combination as is set forth in this claim. There is another difficulty which might, perhaps, be got over by a liberal con struction. The claim is put in the alternative, as if, not being able to make out one, he intended to fall back upon the other. That is not the proper mode of stating a claim, for it leaves it uncertain. The fourth claim is for “ the use of the revolving, distributing, scouring, and blowing cylinders of heaters and fans, by which the material is distributed, scoured, and the flour blown through the meshes of the bolting cloth.” That claim is not infringed by the defendants. The claim is undoubtedly for a peculiar arrangement of defendant’s bolt, as novel as distinct from the bolts before in use; and this arrangement one that had not been before in use. It is simply for this peculiar bolt, and its peculiar construc tion, as distinguished from other bolts like the defendant’s in common use. The tirst claim is for “ the platform D (always at right angles with the sides of the bolt when not made conical) or close horizontal bottom, when used in connection with upright, stationary, or revolving bolts, for flouring purposes.” That platform, in the plaintiffs’ machine, is of peculiar construction. It has an aperture for the admission of air, in addition to that for the discharge of the bran. That is the peculiar construction of the platform. It is quite clear that the arrangement of defendants’ bottom is not the same in form. It has no aperture like the plaintiffs’ for the admission of a current of air, as distinct from the aperture of discharge, common to every description of bolt of the kind. There is, therefore, a marked difference in the construction o f these two bottoms. It may be a nice question at the final hearing, whether in point of fact the ar rangement of the bottom of defendants’ machine is substantially identical with the bottom of the complainants’ ? They are not formed alike. The aperture in complainants’ machine is placed there for a specific purpose, to carry out one of the ideas of the patentee, which is to produce through the openings in the top and bottom counter currents of air, to be operated upon within the sieve by 325 Journal o f Mercantile Law. means of, and in combination and connection with, the revolving bolt or cylinder, constituting one of the leading features of the plaintiffs’ invention. There is no such aperture or arrangement in the defendants’ machine, nor has he any such purpose in view in its operation in separating flour from bran. Whether the Bradfield or defendants’ machine would operate successfully or not when placed vertically is a question that is controverted, and cannot, upon the evidence, be determined now. It is stated by the witnesses on the part of the defendants that the Bradfield machine was operated in a vertical as well as in an inclined and horizontal position. But, as the case stands upon the evidence, it would not justify the Court in enjoining these defendants. Motion, therefore, denied. This is an unusually important case, as there are many machines in use sim ilar to that of the defendants. ATTACHMENT AGAINST A VESSEL ON LIBEL— IRREGULARITY. United States District Court, Southern District of New York, November, 1857. Before Judge Betts. Alfred Blanchard and others vs. the ship Cavalier. This was a motion to set aside an attachment issued against the ship. The libel is averred to be “ in a cause of possession civil and maritime,” and alleges that the libelants are owners of the ship by purchase at a Marshal’s sale, and that ever since such purchase possession thereof has been wrongfully withheld from them by Snow & Burgess, o f this city, on the pretence of having some claim or interest in her, as owners or otherwise. On this libel an attachment was issued against the vessel, and notice was ordered to be given to all persons claiming her, but designating no person or party to whom such notice should be given. Messrs. Snow and Burgess applied to have the attachment discharged for irregularity in not being taken out against them, and served on them spe cifically by name. Held by the Court—That the libelants have proceeded as in an ordinary action in rem grounded upon a lien on the ship in which adverse parties in interest need be admonished or cited only by arrest of the vessel and publication of a general notice thereof to all concerned. This is a misapprehension. The 20th rule of the Supreme Court directs that in such cases the process shall be an arrest of the ship and admonition to the adverse party to appear and make answer. This constitutes the proceeding in a suit in personam to be litigated between the parties individually, the vessel being placed under attachment only for the purpose of being adjudged to the possession of the party who shall establish his right against his adversary. It must accordingly be instituted and conducted in the mode appropriated to that form o f proceeding, and not as an action in rem. The applicants having put in their answer and being ready to bond the vessel, they can be permitted to do so forthwith without the ship being subject to the cost of re-attachment. Motion to vacate attachment granted with costs, and at tachment discharged on the execution of such bond by the claimants. DAMAGES FOR BREACH OF CONTRACT. Superior Court, City of New York, November, 1857. ruff. Cryder and Wetmore vs. James T. Maxwell. Before Judge Wood In this ease the plaintiffs sued the defendant to recover damages for a breach of contract, in a purchase of a large quantity of annis oil, which was expected to arrive at New York from the East Indies on board the ship Cliilo, from Singa pore, in the early part o f 1856. It appeared by the evidence that an agent of the consignee made the contract with the vendee for the sale and delivery of the oil at $3 75 per pound, the latter to take the oil out of bond and to pay the duty. Certain events in China and the East Indies which happened at the time of the transaction had raised the price of all commodities coming from that quarter of the world, but subsequently it was ascertained that these events would 326 Commercial Chronicle and Review. not affect the commerce of the United States to the extent anticipated. A cor respondent fall was the result. When the Chilo arrived here annis oil, instead of being quoted from $3 75 to $4, without duty, was selling at S3, and the de fendant refused to receive the consignment of the Chilo. This refusal was grounded partly on a supposed omission of the agent and the vendor to inform the vendee of tne permission given to the master o f the Chilo to stop at inter mediate ports, and partly on its being a custom of the trade. The defendant’s counsel claiming the affirmative o f the issue, these facts were first proven. The plaintiffs’ counsel proved that it was customary for all ships sailing from Singa pore and adjacent ports to cast anchor at Penang or some other contiguous port in the China seas to complete their cargo, and that 32 days—the time the Chilo was detained—was not an unreasonable time to complete a cargo. The Court held that it was not the duty of the agent or the vendor to inform the vendee of the vessel having to call at Penang, but that it was the duty to inform himself of the usual course o f trade when he made his contract. The jury found for the plaintiffs damages of §2,288. -----seamen ’ s w a g e s . This was a libel for seamen’s wages claimed to have been earned on a voyage from Genoa to New York. The vessel on her arrival at New York was seized as forfeited under the revenue laws, condemned and sold. This claim was not brought before the Court at the time o f the condemnation, but the libelants, using their libel by way of petition sought to have their claim satisfied out of the proceeds by order of the Court through its discretionary power over remnants and surplus. Held by the Court.—That the application pannot prevail in this form. It must be assumed that the vessel had been rightfully condemned, and there is no proof, or even allegation, that the interests and rights of the crew were not involved in the forfeiture. There is nothing, therefore, to warrant the presumption that the petitioners, as part of the ships company, were exempt from all guilty com plicity in the offense. Petition denied, with leave to renew it. COMMERCIAL CHRONICLE AND RE V IE D . G E N E R A L A S P E C T O F F I N A N C I A L A N D C O M M E R C IA L M A N U F A C T U R IN G A N D M E R C A N T I L E A F F A IR S — R E C O V E R Y FRO M D E P R E S S IO N — T H E IN T E R E S T S C O M P A R E D — T H E M O N E Y M A R K E T — S H O R T E N I N G O F C R E D IT S — T H E M O R A L S O F F A I L U R E , E X T E N S IO N S , A N D S E T T L E M E N T S — T I I E S T O C K M A R K E T — T U B P R O P O S E D R E F O R M S I N B A N K I N G N O T IC E D A N D D IS C U S S E D — T H E T R U E R E M E D Y F O R E X I S T I N G E V I L S TO B E FO U N D IN A R E P E A L O F T H E U S U R Y L A W S — T H E R E C E IP T S OF G O L D A N D A S S A Y O F F IC E A N D M IN T S — T H E G O L D P R O D U C T I N C A L I F O R N I A S IN C E IT S S E T T L E M E N T I N TH E B A N K IN G M O V EM E N T — IM PO RT8 A N D E X P O R T S A T NEW S E V E N M O N T H 8 O F T H E F I S C A L Y E A R — S H IP M E N T S O F D O M E S T IC YORK FOR C O IN A G E JA N U AR Y , AND AT TUB 1848— D U R IN G PROD UCE, A N D PROSPECTS FO R THB S P R IN G T R A D E , E TC . T he improvement heretofore noticed in financial matters has now extended, although with less uniformity, to commercial affairs, and the promises to which allusion was made in our last, have been fully realized in the revival of trade and general activity. The low prices of most articles of merchandise, and the prospect of diminished receipts, have led to increased speculation, and this has set in motion again many of the wheels of trade which have been silent since the panic first commenced. We do not wish to color this view too highly, or to indicate to our readers abroad that we are once more enjoying undisturbed prosperity. There are around us many sad wrecks of the old disasters, and there are not a few articles of merchandise which have not reached the point of reaction, and are still declining, thus daily wasting away the fortunes of the owner. But the grand crisis has passed, and although some who are now only wounded may ultimately Commercial Chronicle and Review. 327 fall, those who are still unhurt may certainly hope to escape from further danger. The manufacturing industry is recovering very slowly, and will feel the blow longer than any other interest in the country. The difficulty under which the manufacturers of this country labor, as a body, is the want of floating capital. Even in prosperous times most of them are hampered and deeply in debt, because their available means, insufficient at the outset, are absorbed in permanent works and improvements, which represent a market value far below their cost. When a financial pressure occurs, therefore, they are the first to feel its gripe, and the last to recover. It is seldom, however, that their fortunes are swept away so completely as the merchant’s, whose credits are often many times greater than his entire capital, and the instances of ultimate failure are comparatively less numerous than in many other branches of business, which are supposed to thrive with less care and trouble. Money is very abundant, and is accumulating at all the financial centers, while the opportunities of safe and profitable investment are not offering as freely as capitalists desire. Business paper of the first class is very scarce, and is ab sorbed by the banks, leaving but little for sale at the note brokers, except in dates too long for discount, or at rates below the legal interest. The obligations given by those houses which obtained extensions have been met more regularly than could have been anticipated. Of course, in many cases, only the first or second payments have matured, but there is more reason to hope, from present appearances, that the relief thus granted will lead to final recovery, and a return of undoubted credit. The dates of credit have been much contracted in the new business which has thus far been inaugurated ; those who sold on ten months have fallen to eight; those who sold on eight months have come down to six, and six months’ credits, in many cases, have been shortened to four ; while cash sales are much more frequent and are encouraged by liberal discounts. Credit has done much for this country in the rapid development of its resources, but like other good agencies, it has been grossly abused. It has now received a shock which, we trust, will prove a lesson to all who have been too liberal and credulous, not only for their own good, but also for that of their customers. In this connection it may not be improper to say a word in regard to those who were compelled to suspend. The inability to meet promptly every maturing obligation at a time of general embarrassment and great financial pressure, cer tainly involves no dishonor. We do not agree with those who claim that houses which asked no favors from their friends or creditors are deserving of no more credit than most of those which succumbed, because the entanglements of the former were less and their situation less critical. The very fact of this freedom from entanglements, the very ease of circumstances which left their stalwart houses to stand so securely, may have been less the result of good fortune than far-sighted sagacity and prudence. It may be, as claimed, that the houses which stood unshaken amid the storm, would have failed if they had happened to have as large payments to make as those which went down ; but it does not follow that this freedom from an overwhelming load of rapidly-maturing obligations was the result alone of chance, or of a happy combination of unforeseen circum stances. The prudent merchant may not have foreseen the storm, but he may have foreseen the danger, in any case, of bringing the certainty of large payments into a small compass of time, and have foregone an opportunity of profit rather 328 Commercial Chronicle and Review. than incur the risk of such accumulated obligations. But apart from this, many who have been in serious embarrassment, or who have actually failed, have come out of the trial with no loss of character, and without any imputation of unfair dealing. W e class these together, for while some persons profess to see a wide difference between the two, we cannot, unless it is in favor of the latter. There are some cases of suspension which must be separated from either ; but the man who suspends, buys up his paper at 50 or 75 per cent, and then makes a flourish of resuming, is, to our mind, far less entitled to respect than he who confesses his in ability to pay in full, and settles his debts at once, at so much in the dollar as his assets will divide. There is hope, however, for all whose characters are un stained, and we trust that none will yield to despair. The irregular and spasmodic action in the stock market, which we noticed in our last, has given place to a more vigorous upward movement, and there has been considerable activity of speculation. Of course, this upward tendency has not been without occasional reactionary currents, but it has thus far been main tained with fewer interruptions than usual in such a state of the market. The banks have received more than their share of public atttention since the comparative ease in the money market has allowed their customers more time to study their supposed share in the recent troubles; and various remedies have been proposed to render their action less obnoxious to public censure. A t New York the city banks have partially consummated an agreement to abolish the pernicious practice of allowing interest on country bank deposits. The evil is, that when 4 per cent interest is allowed to the depositor, the bank is tempted to reloan the money, nay, is obliged to reloan it, if the deposit is to be made pro fitable, and thus has too little specie on hand to meet a demand from its de positors, and must suddenly contract its discounts. These sudden contractions and expansions are felt through every channel of business, and it is against these that the public anathemas are directed. The refusal to allow interest on deposits, if maintained in good faith, will certainly remove a great temptation to loan deposit funds, and will thus leave with the banks a larger reserve of specie. Another remedy proposed is an act of legislation obliging the banks to keep on hand a certain proportion of their obligations in specie, but this, however effec tive, will be so much opposed that there is little prospect of its being adopted. The first named remedy is even now in operation in Massachusetts—the statutes of that Commonwealth forbidding the payment of interest on bank deposits, but it does not seem to be wholly effective against the evil. We suggest a remedy which, to our mind, is better than either. Repeal the usury laws, and allow free trade in money. Disguise it as we may, the present banking system is sustained because it is a safe and ingenious method of investing money at something above the ordinary rates of legal interest, and it is in strain ing after high dividends that these money lenders run into the practices of which the public complain. Either allow the private capitalist to loan his money directly and honorably at eight, nine, or ten per cent per annum, or else restrict the bank dividends to legal interest, and forbid any accumulation of surplus profits. This will cut the knot of the difficulty at once, and there need be no mystery about the effect in either case. The semi-monthly receipts from California have fallen back again to the standard of last fall, and the gold being in demand for immediate export, all of 329 Commercial Chronicle and Review. it which arrives in available shape is at once taken by the bullion brokers, and is not, therefore, deposited in the assay-office. The following will show the busi ness at the New York Assay-office for the last month :—DEPOSITS AT THE NEW YOKE ASSAY-OFFICE IN JANUARY, Gold. Foreign coin ...................................... Foreign bullion.................................. United States bullion....................... 815,000 00 13,000 00 1,062,000 00 1858. Silver. Total. 856,500 00 12,000 00 14,500 00 $71,500 00 25,000 00 1,076,500 00 Total deposits....................... $1,090,000,00 $83,000 00 Deposits payable in bars......................................................................... Deposits payable in coin................................................................. $1,173,000 00 $1,094,000 00 Gold bars stam ped.................................................................................... Transmitted to United States Mint for coinage.................................... 1,032,753 24 88,303 51 79,000 00 We also annex a statement of the deposits and coinage at the United States Mint in Philadelphia, during the month of January. The fact that a movement is on foot to obtain the authority of Congress for the establishment of a coining department at the Assay-office in New York gives to these statements a peculiar interest:— GOLD DEPOSITS. Gold from California................... Gold from other sources.............. . $62,422 50 11,597 50 Total gold deposits.......... $74,020 00 SILVER DEPOSITS. Silver, including purchases.......... Spanish and Mexican fractions of a dollar received in exchange for new cents.,.. . , $128,294 00 10,040 00 Total silver deposits.......... $138,334 00 COPPER. Cents (O. S.) received in exchange for new cents. . . . $1,495 00 Total dep osits................... $218,849 00 The coinage executed was GOLD. Denomination. Double e a g le s ....................... No. of pieces. 7,057 Yalue. $141,140 7,057 $141,140 226,000 948,000 $113,000 237,000 1,174,000 $350,000 1,600,000 $16,000 Silver coinage....................... Copper coinage..................... 7,057 1.174.000 1.600.000 $141,140 350,000 16,300 T o t a l.............................. 2,781,057 $507,140 Total ......................... SILVER. Half dollars............................ Quarter dollars....................... Total........................... COPPER. C e n ts ...................................... RECAPITULATION. 330 Commercial Chronicle and Review. I The following is a statement of the operations of the United States Branch Mint at New Orleans, for the month of January, 1858 GOLD DEPOSITS. California gold............ Gold from other sources. $13,621 28 40,129 45 Total gold deposited................................... $53,750 73 SILVEE DEPOSITS. Silver parted from California gold Silver from other sources............. $162 23 363,318 63 Total silver deposited $363,480 86 $407,231 59 $225,000 00 $205,000 00 Total value of gold and silver coinage $430,000 00 In this connection it may be interesting to give the total exports of treasure from California during the last seven years :— EXPOETS OP BULLION PEOM CALIFOENIA. Tear. 1851. 1852. 1853. 1854. 1855. 1856. 1857. To New York. $47,916,448 46,289,649 38,730,564 39,765,294 35,287,778 To England. T o all ports. $4,975,662 3,781,080 5,182,156 8,666,289 9,347,748 $34,492,000 45,779,000 54,965,000 51,429,000 45,182,631 50,694,434 48,889,689 The above includes only such sums as are entered on the ship’s manifest for export. A large amount must have been taken away in the hands of passengers, of which no record is made, as is proved by the mint returns for several years. The gold fields were first worked toward the close of 1848, but there was little gold reached the Atlantic States in that year. The total exports from San Francisco up to January, 1851, when the above table begins, may be set down at $50,000,000, so that California has sent abroad, to be added to the bullion fund, about $382,000,000 up to the beginning of the year 1858. In addition to this, a large amount is annually added to her own circulation and hoarded wealth. The bank movement of the country has shown a great abundance of capital, a general accumulation of specie at the various money centers, and at most points a very moderate increase in the lines of loans and discounts. The latter fact is owing less to the illiberality of the banks than to the comparative stagnation of trade, which leaves a large amount of capital without profitable employment, and diminishes the volume of acceptable business paper. At New York the average of specie for the week ending January 30, 1858, reached the enormous amount of $31,273,023, which is nearly three times the amount held at the corresponding Commercial Chronicle and Review. date of last year. year:— Date. Jan. Jan. Jan. Jan. Jan. Feb. Feb. 331 We annex a comparative summary since the opening of the Capital. 2, ’68 $65,069,708 9 . . . 65.069.708 1 6 ... 65.069.708 2 3 ... 65.069.708 3 0 ... 65.069.708 6 . . . 66.108.135 1 3 ... 66.108.135 Loans and discounts. $98,549,983' 98,792,757 99,473,762 101,172,642 102,180,089 103,602,932 103,783,336 Same time last year:— Feb. 14, ’57 59,266,434 112,722,799 Specie. Circulation. D eposits. 30,211,266 30,829,151 31,278,023 30,652,948 30,226,275 $6,490,403 6,615,464 6,349,325 6,336,<%2 6,369,678 6,873,931 6,607,271 $78,635,225 79,841,362 81,790,321 82,598,348 83,997,081 86,000,488 84,229,492 10,497,382 8,151 799 91,917,188 $28,561,946 29,176,838 The following is a summary of the condition of the banks of the State of New York at the date of their last quarterly return to the Superintendent, compared with the same items of the previous quarter :— BANKS OF STATE OF NEW YORK— 294 BANKS. Discounts.................................................................. O verdrafts............................................................... Due from banks...................................................... Real estate............................................................... Specie....................................................................... Cash items............................................................... Stocks, <fcc................................. Mortgages................................................................. Bank notes............................................................... Bank suspended...................................................... Loss and expense.................................................... Add for cents........................................................... C apital..................................................................... Circulation............................................................... Profits....................................................................... Due to banks.......................................................... Due to others,........................................................... Due State................................................................. Deposits................................................................... Other items............................................................. Add for cents........................................................... Sept, 26, 1857, Dec. 26, 1857. $170,846,774 504,607 13,766,025 7,374,811 14,321,599 14,224,345 23,503,377 8,781,463 2,433,373 32,192 1,028,179 926 $154,210,065 445,464 11,726,973 7,423,614 29,313,421 14,130,673 22,623,755 8,597,310 1,857,658 22,391 2,123,623 919 $256,817,670 $252,475,866 $107,507,659 27,122,904 13,037,429 19,267,363 1,137,345 3,415,866 83,539,894 1,758,791 519 $107,449,143 23,899,964 13,985,673 21,268,562 1,147,708 3,062,768 79,980,585 1,681,948 515 $256,817,670 $252,475,866 The banks of Philadelphia have established a Clearing House, which, if faith fully conducted, will prove a great restraint upon imprudent banking, of which there have been some lamentable examples, there as well as elsewhere, during the last year. We have compiled the following table of the returns of the Philadel phia banks since the beginning of the year :— AVERAGE Week ending. Jan. 11, 1 8 5 8 ... 18................. 25................. Feb. 1................ 8................. 15................. CONDITION OF THE PHILADEI.PHA BANKS. Capital. Loans & disco’ts. Specie. $11,300,065 $21,302,374 $3,770,701 11,300,065 21,068,662 4,018,295 11,300,065 20,730,958 4,243,966 20,423,704 11,300,065 4,475,693 11,300,065 20,359,226 4,668,085 11,300,065 20,071,474 4,823,989 Circulation. $1,011,033 1,046,545 1,062,192 1,096,462 1,293,046 1,559,218 Deposits. $11,465,253 11,512,765 11,547,691 12,195,126 11,904,519 11,887,342 332 Commercial Chronicle and Review. This shows a decline in the volume of loans, but an increased accumulation of specie. We also annex a comparative statement of the Boston banks in con tinuation of the dates given in our last:— January 18. January 25. February 1. February 8. Capital stock .. . $31,960,000 $31,960,000 $31,960,000 $31,960,000 51,772,412 51,854,178 52,011,821 Loans & diseo’nts 51,740,926 Specie................. 5,661,216 6,073,680 6,402,460 6,872,977 5,756,068 Due from oth’rb ’ks 5,891,800 1,949,031 5,725,337 5,317,764 Due to oth’r b’ks 4,754,000 3.531.721 5,111,278 18,602,984 18,129,649 18,398,692 17,722,553 Deposits.............. 5,428,600 5.494.721 Circulation.......... 6,669,028 5,251,006 February 15. $31,960,000 52,137,972 7,079,606 5,523,012 5,568,464 18,429,945 5,898,660 We continue our summary of the New Orleans bank statement to the latest dates :— January 16. January 23. January 30. February 6. Specie ...................................... $10,592,617 $10,693,330 $10,844,746 $11,187,398 Circulation................................... 8,797,746 4,767,816 4,803,071 5,037,906 Deposits........................................... 12,323,508 12,573,173 12,678,696 14,539,408 Short loans..................................... 14,804,320 14,559,131 14,674,217 14,490,001 Exchange..................................... 5,095,771 5,201,368 5,249,136 5,984,781 Due distant banks....................... 1,652,855 1,459,863 1,379,908 1,256,815 Long and short loans.................... 17,876,016 17,535,689 17,655,024 17,520,000 Annexed is a statement of the condition of the thirty-six branches of the State Bank of Ohio on the first Monday in February :— $3,354,360 9,576,800 Cash means___ Available assets Total........................................................................................................... Circulation.................................................................................. $5,619,843 Other liabilities......................................................................... 2,235,763 --------------Resources over liabilities.. Which represents capital stock Surplus........................................ $12,931,160 7,855,606 $5,075,554 $4,104,500 974,054 $5,075,564 COMPAKATIVE STATEMENT FOE JANUARY AND FEBRUARY, Coin. January............... February............. $1,483,261 1,610,712 Eastern exchange, Bills. discounted. 1858. Circulation. $487,294 $8,191,360 $5,818,448 630,113 7,993,181 5,619,843 Other liabilities. $2,036,790 2,209,820 W e have now compiled our usual summary of the official returns of the com merce of the port of New York for the month of January. The imports, it will be seen, are very small, showing a decline of 60 per cent from the corresponding total for last year, and are smaller than for the same period of any previous year since 1849. The total is §10,901,013 less than for January, 1857 ; §7,472,345 less than for January, 1856 ; and §4,840,108 less than for January, 1855. There has been an increase in the amount withdrawn from warehouse for consumption, which shows a decided improvement in the trade:— « Commercial Chronicle and Review. 333 FOREIGN IMPORTS AT NEW YORK IN JANUARY. 1855. 1856. 1857. 1858. Entered for consum ption.. . . Entered for warehousing....... Free goods .............................. Specie and bullion-................. $8,370,259 $12,556,638 $15,300,034 3,254,654 1,625,254 1,969,266 1,230,630 1,341,808 850,923 90,284 54,364 886,509 $4,170,017 1,909,448 1,716,682 309,572 Total entered at the p o r t... . Withdrawn from warehouse. $12,945,827 1£15,578,064 2,057,931 2,345,618 $8,105,719 4,504,691 $19,006,732 2,673,755 For the convenience of those, who correct their tables from the beginning of the fiscal year, we have also compiled a comparative summary of the imports from July 1st. The total for the seven months, ending with January, is $6,407,051 less than the corresponding total of the previous year, but Si 2,303,548 more than for the seven months, ending January 31, 1856, as will appear from the fol lowing statement FOREIGN IMPORTS AT NEW YORK FOR SEVEN MONTHS, ENDING JANUARY 81ST. Entered for consumption.................... Entered for warehousing.................... Free goods................................................ Specie and bullion................................. 1856. 1857. 1858. $82,343,865 15,008,002 7,683,127 455,879 $91,492,269 23,130,143 7,662,708 1,976,352 $61,869,156 34,137,001 13,932,671 7,855,693 Total entered at the port.................... $105,490,873 $124,261,472 $117,794,421 Withdrawn from warehouse................ 13,561,881 17,478,706 31,960,220 The receipts of dry goods at the port of New York during the month of January, were less than for any corresponding period in eight years, the total value having fallen below three million dollars. To show, at a glance, what an unusual depression there has been in this branch of business, we annex a com parative summary of the imports of foreign dry goods at New York, in each January, since 1850 :— IMPORTS OF FOREIGN DRY GOODS AT NEW YORK FOR THE MONTH OF JANUARY. Year. 1850 1851 1852 1853 1854 Value. .................................. .................................. .................................. .................................. .................................. Year. $7,303,942 1855 9,372,564 1856 7,929,376 1857 8,564,818 1858 10,232,470 Value. .......................... .......................... ........................... ........................... 6,630,393 10,686,771 10,386,476 2,866,144 It must be borne in mind, in connection with the above statement, that the value of all descriptions of foreign merchandise held in bond at New York on the 1st of January, 1858, was twenty-six million dollars, against fourteen millions at the same date of the previous year. Of this twelve millions excess, about five millions were in addition to the usual stock of dry goods, so that there will be a supply of fabrics for the opening trade, although the styles of those kept over may not be quite as fresh as could be desired. We annex our usual monthly summary :— IMPORTS OF FOREIGN DRY GOODS AT NEW YORK FOR THE FOUR WEEKS ENDING JAN. 28. ENTERED FOR CONSUMPTION. 1856. 1857. $989,922 983,081 1,012,621 584,491 472,775 $2,177,332 2,524,951 3,054,608 813,564 719.438 $1,927,110 2,121,174 3,769,596 714,499 849,797 $336,153 383,621 633,080 183,388 160,681 $4,042,890 $9,280,893 $9,382,176 $1,596,928 1855. Manufactures o f w o o l........... Manufactures o f cotton . . . . Manufactures o f silk............. Manufactures o f f l a x ........... Miscellaneous dry g o o d s .. . Total................................ , 1858. 334 Commercial Chronicle and Review, "W IT H D R A W N FROM W AREH OU SE. 1857. $182,414 535,594 322,862 150,083 82,854 $414,023 594,622 616,369 325,464 161,681 $1,065,271 9,280,893 $1,273,807 9,382,176 $2,112,159 1,696,923 $4,943,617 $10,336,164 $10,655,983 $3,709,082 Manufactures o f w ool............. Manufactures o f cotton . . . . . Manufactures o f silk ............... Manufactures o f flax............... Miscellaneous dry good s........ §188,323 265,530 269,437 , 95,918 81,419 Total w ithdrawn............. Add entered for consumption. $900,727 4,042,890 Total thrown upon mark’ t 1858. 1856. $186,288 406,605 282,872 128,792 50,714 1855. ENTERED F O R W A R E H O U S IN G . 1858. 185S. $307,316 547,935 348,842 227,871 156,539 1856. 1857. Manufactures o f w o o l............. Manufactures o f cotton .......... Manufactures o f silk............... Manufactures o f flax............... Miscellaneous dry g o o d s . . . . $282,084 568,138 294,896 191,158 69,602 $141,385 384,062 273,787 142,943 62,123 $215,866 423,772 425,444 115,141 88,998 Total.................................. A d d entered for consumption $1,587,508 4,042,890 $1,405,878 9,280,893 $1,004,300 9,382,176 $1,269,221 1,596,923 $5,630,393 $10,686,771 $10,386,476 $2,866,144 Total entered at the port I t will be seen from the above, that the receipts in January, 1858, arc §7,520,332 less than for the same period of 1857, §7,820,627 less than for the same period of 1856, and §2,764,249 less than for the same period of 1855, when the total was unusually small. We have now passed through seven months of the current fiscal year, and the falling off in the imports during the last month, has compensated for the large receipts in July and August, and brought the aggre gate, up to this date, below the total given in the corresponding statement for either of the previous two years, as will appear from the following comparison:— IM P O R T S OF F O R E IG N DRY GOODS AT F IS C A L Y E A R ENTERED NEW Total.................................. FOR SEVEN M ONTH S OF THE 28. F O R C O N S U M P T IO N . 1855. Manufactures of w ool............. Manufactures of cotton........... Manufactures of silk............... Manufactures of flax............... Miscellaneous dry goods......... YORK, E N D IN G J A N U A R Y 1856. 1857. 1858. $10,103,576 $13,786,878 $14,780,180 $12,395.§72 6,562,831 7,459,211 8,986,037 5,576,268 12,028,211 16,126,390 17,640,741 11,504,000 3,240,355 4,265,651 4,501,684 2,345,427 3,052,843 3,753,549 4,326,426 2,557,291 $33,987,816 W IT H D R A W N FROM 1855. $45,331,679 $50,234,968 $34,378,368 W AREH O U SE. 1856. 1857. $3,038,590 1,264,327 1,766,922 457,629 298,890 1858. Manufactures of w o o l............. Manufactures of cotton........... Manufactures of silk................ Manufactures of flax............... Miscellaneous dry goods......... $1,410,124 936,687 1,277,033 564,174 330,714 $2,067,759 1,265,629 1,125,086 614,267 339,905 $4,586,012 1,797,956 3,621,985 1,085,068 693,528 Total.................................. A dd entered for consumption. $6,826,358 38,987,816 $4,508,732 45,331,679 $5,312,640 $11,784,549 34,378,358 50,234,968 $40,814,174 $49,840,411 Total thrown on market. $55,547,608 $46,162,907 Commercial Chronicle and Review. ENTERED FOR 335 W A R E H O U S IN G . 1856. 1857. 1858. Manufactures of wool........... Manufactures of cotton......... Manufactures of silk.............. Manufactures of flax.............. Miscellaneous dry goods....... $3,038,660 1,827,081 2,466,362 1,001,682 671,346 $1,140,686 1,490,540 1,186,038 608,231 347,770 $2,108,063 2,070,427 1,349,836 1,077,617 427,941 $4,132,128 3,093,874 3,249,066 1,539,525 1,229,611 Total............. ............. Add entered for consumption. $9,005,131 33,987,816 $4,773,265 45,831,679 $7,033,884 $13,235,203 50,234,968 34,378,358 1855. Total entered at port.. . . $42,992,947 $50,104,944 $57,268,852 $47,613,561 The total for the last seven months is §9,755,291 less than for the same period of the previous year, §2,491,283 less than for the seven months, ending with January, 1856, but §4,610,614 more than for the seven months ending with January, 1855. We look for a still greater comparative decline in February, as the receipts of dry goods for February of last year were very large, the usual estimate of the spring trade is at 50 per cent of the total for the same period of last year. If the anticipation is correct, there is reason to hope for more re numerating prices, during the four weeks next ending, for the most desirable of the fresh importations. Old goods will certainly sell at a very heavy decline from their original cost. The exports from New Tork to foreign ports for the month of January instead of showing a decline corresponding to the decrease in the imports, are larger, in clusive of specie, than for any similar month on record, and nearly as large as for the same month of last year in produce and merchandise. The total, exclusive of specie, is only §194,431 less than for January, 1857, §821,491 less than for January 1856, and §1,205,778 less than for January 1855 :— EXPO RTS FROM NEW T O R K TO F O R E IG N FO R TS IN JA N U A R Y . 1855. 1856. 1857. 1858. Domestic produce......................... Foreign merchandise (free)......... Foreign merchandise (dutiable).. Specie and bullion....................... $4,996,787 458,091 440,639 156,398 $5,257,686 41,305 212,239 104,834 $4,543,842 151,920 188,408 1,307,946 $4,208,306 191,125 290,308 4,745,611 Total exports......................... Total exclusive of specie. . . $6,051,915 5,895,517 $5,616,064 5,511,230 $6,192,116 4,884,170 $9,435,350 4,689,739 The total exports at the port of New York since July 1st, (exclusive of spe cie,) are §9,088,491 less than for the corresponding seven months of last year, and §6,034,779 less than for the seven months ending with January, 1856 :— E X P O R T S F R O M N E W T O R K TO F O R E I G N P O R T S F O R T H E S E V E N M O N T H S E N D I N G JA N . 1856. Domestic p rod u ce.......................... Foreign merchandise ( fr e e ) . . . . . Foreign merchandise (dutiable) Specie and bullion........................... T o ta l e x p o rts .......................................... Total, exclusive o f s p e cie ..................... $42,507,037 740,134 2,179,788 10,665,779 1857. 81. 1858. $46,021,144 $31,559,901 640,646 2,512,724 1,818,881 5,319,505 23,258,362 26,707,723 $56,082,738 $71,789,023 $66,089,903 45,426,969 48,480,671 39,392,180 The weather has been favorable for the export trade during the last two months, and there is a prospect of a large business for the next four months, and especially after the opening of the internal navigation by canal and the lakes. We also annex a comparative summary of the receipts for cash duties at the port of New York :— 336 Commercial Chronicle and Review. C A S H D U T IE S R E C E I V E D A T N E W T O R E . 185i 1856. 1857. 1858. Six mo's end. Jan. 1. $18,358,927 32 $20,087,362 28 $22,978,124 43 $16,345,553 67 In January............. 2,560,038 32 3,688,654 85 4,537,378 43 1,641,474 59 Total sev’n mont’s $20,918,965'64 $23,771,017 13 $27,515,502 86 $17,987,028 16 This needs no explanation ; the total for the last month has been very small, only about 40 per cent of the receipts for January of last year, while the falling off since July 1st, is about ten million dollars. We also annex our usual summary of the exports of the leading articles of do mestic produce from New York to foreign ports since the opening of the year. The winter has been favorable, and the supply of flour has been abundant at low prices, but wheat and corn have not been offered as freely as could have been desired :— C O M P A R A T IV E NEW EXPORTS YORK TO OF A FEW F O R E IG N 1857. Ashes— pot9, bbis.. . pearh ......... Beeswax, lbs............ Breadstuffs— Wheat flour,bbis. Corn meal............. Grain—wheat, bush. Candles, mold, boxes sperm........ Coal, tons.................. Cotton, bales............. H a y ......................... H ops......................... Naval stores— Turpentine, bbis.. Spts. turpentine.. L E A D IN G PORTS 1.753 319 20,249 179,427 5,797 375,686 17,604 354,109 6,810 938 150 28,232 1,422 569 8,299 2,625 FROM A R T IC L E S JA N U A R Y OF D O M E S T IC 1ST TO 1858. 1,347 192 40,026 197,698 821 8,632 255,208 282,164 10,354 2,301 381 8,306 2,381 217 8,919 4,104 PRODUCE FEBRUARY Rosin..................... T a r ....................... Pitch..................... Oils— whale, g a lls .. sperm............. linseed........... Provisions— Cut meats, lbs....... Butter................... C heese................. Lard...................... Rice, tcs.................... Tallow, lbs............... Tobacco—crude,pkg manuf., lbs. Whalebone, lbs........ FROM 1 8 t H. 1857. 1858. 25,596 788 28,611 379 220 990 48,311 6,907 2,815 6,441 106,700 2,696 7,466 17,696 8,032 11,230 2,262 3,193,496 6,694,241 71,761 207,192 238,369 655,526 8,729,902 2,177,587 5,623 3,987 100,991 455,729 9,969 2,579 389,254 236,279 8,341 101,853 The question of an active export demand for our produce is still an open one, but the indications are becoming more favorable. Breadstuffs are now very cheap, and money, both here and in Europe, is very abundant, with few oppor tunities for safe investment. A very little excitement would give a start to spe culation and lead to an activity almost unprecedented. We have had a winter of unusually mild weather. If this be followed by a cold, wet spring, we do not see why a speculative inquiry for our grain and flour in England should not take from us all the surplus we shall have to spare. There is a good stock of flour in New York, say six or seven hundred thousand barrels ; but this will be largely increased on the opening of navigation, as there are large supplies in the interior. The stock of wheat and corn is not large, and at present prices it will hardly pay to ship by railroad. But the surplus to be sent forward as soon as water communication is restored is unusually large. We may, therefore, safely calcu late that the chances are altogether in favor of an active movement in produce throughout the spring months. Journal o f Banking, Currency, and Finance. 339 JOURNAL OF BANKING, CURRENCY, AND FINANCE. COINAGE OF THE UNITED STATES. In the Merchants’ Magazine of July, 1857, (vol. xxxvii., pp. 52-60,) we pub lished the complete statistics of the coinage of the Mint of the United States and its branches, from 1847 to the close of 1856, and that article was continuous of an equally full statement of the coinage from 1793 to 1847, which we pub lished in February, 1849, (vol. xx., pp. 200-206.) Previous to the passage of the act approved February 21,1857, entitled “ An act relating to foreign coins and to the coinage o f cents at the Mint of the Uni ted States,” the annual report of the Director of the Mint was made to the President of the United States in the month of January of each year, and em braced the operations of the Mint for the preceding year. But the act of Con gress above cited directs that “ hereafter the Director of the Mint shall make his annual report to the Secretary of the Treasury up to the 30th of June in each year, so that the same may appear in his annual report to Congress on the finances.” The report for 1857, by J a m e s Ross S n o w d e n , Director, therefore, presents the operations of the Mint during the period of six months, from Janu ary 1st to June 30th, 1857, together with the usual detailed tables of the several items of coinage at each establishment from its organization. W e have care fully compiled the subjoined synopsis of i t :— T O T A L D E P O S IT S D U R IN G S IX M O N T H S E N D IN G JU N E Gold. Mint of U. States, Philadelphia. Branch Mint, New Orleans........ “ San Francisco.. . . “ Dahlonega.............. “ Charlotte................ Assay-office, New Y o r k ............. Total deposits.. Less redeposits. Actual deposits $3,700,350 151,177 12,526,826 39,679 75,376 10,019,903 30, 1857. Sliver. T otal 87 90 93 54 47 00 $2,585,544 17 1,662,728 13 24,374 86 $26,513,314 71 3,024,595 39 $4,774,186 16 2,153,236 02 $31,287,600 87 6,117,831 41 $23,488,719 32 $2,620,950 14 $26,109,669 46 501,539 00 $6,285,895 1,813,906 12,551,201 39,679 75,376 10,521,442 04 03 79 54 47 00 The gold redeposited consisted of United States bullion. The description of the total deposits was as follows :— GOLD. Foreign coin.................. Foreign b ullion ........... U. S. coin, (O. S.)......... U. S. bullion................. Do., parted from silver. Total g o ld ............ S IL V E R . 20 31 50 13 57 Deposits incl. purchases. U. S. bullion, parted... . $4,646,930 04 127,256 12 Total silver............. Total gold.............. $4,774,186 16 26,513,314 71 $26,513,314 71 Total deposits .. $31,287,500 87 $107,471 99,916 6,754 26,294,626 4,546 The deposits of gold of domestic production were as follows :—from California, $23,118,176 75 ; from the Atlantic States, $151,853 99 ; total, $23,270,030 74. The deposits of silver of domestic production, including silver parted from Cali fornia gold, amounted to $127,256 12. The deposits and purchases (of silver) v o l . x x x v m .— n o . h i . 22 338 Journal o f Banking, Currency, and Finance. at the Assay-office were paid thus—in fine gold and silver bars, $7,862,557 ; in gold and silver coin, $2,658,885. T O T A L C O IN A G E , IN C L U D IN G B A R S , D U R IN G F I R S T S I X M O N T H S O F $15,811,663 00 Fine gold b a r s ............. Gold co in s................... 1,477,000 00 Silver b a rs................... Silver co in s................. 63,510 46 Cent coins..................... Total amount o f coinage, including bars, in 1857, to June 30th. 1867. $9,371,575 68 124,644 46 $26,848,293 60 The description o f the total coinage was as follows GOLD. Double eagles............... Eagles........................... H alf eagles................... Three dollars................ Quarter eagles............. Dollars........................... S IL V E R . $14,056,300 129,160 673,610 38,496 320,465 593,532 9 871 6 7 5 00 00 00 00 00 00 Dollars........................... Half dollars................... Quarter dollars............ Dimes............................. Half dimes................... Fine bars ..................... CO PPER. Cents............................. H alf cents..................... Total copper........ 00 00 00 00 00 46 f if i AVIMW.................... Total g o l d ........... $94,000 114,000 683,000 489,000 197,000 124,644 $25,183,138 68 $1 c m RA A AR IV R E C A P IT U L A T IO N . Total g o l d ................... $63,334 56 Total s ilv e r ................. 175 90 Total copper ............... $25,183,138 68 1,601,644 46 63,510 46 $63,510 46 $26,848,293 60 Total coinage. . . . The operations of coinage at the several Mints and the Assay-office were as follows:— Mint of TJ. States, Philadelphia. Branch Mint, New Orleans........ “ San Francisco.. . . “ Dahlonega............. “ Charlotte............... Assay-office, New Y o r k ............. Total.................................... Gold. $3,245,863 Done 12,490,000 32,906 78,965 9,335,414 68 00 00 00 00 $25,183,138 68 Silver. $1,428,327 48 none 60,000 00 123,317 00 $1,601,644 46 Total. $4,737,691 none 12,540,000 32,906 78,965 9,458,731 f—----- Fine gold bars.--------, 00 00 00 00 $26,848,293 60 The total amount given above as the coinage at Philadelphia, as well as total of coinage at all the Mints, includes the sum of $63,510 46, which was amount of the coinage of cents and half-cents, all of which are coined at principal Mint. We compile the annexed special statement of the value of bars minted:— Establishments. 60 the the the the ,-----Fine silver bars.-----, Pieces. Value. Pieces. Value. A t Philadelphia.............................. A t New Y o r k ................................ 117 2,230 $86,161 68 9,335,414 00 11 650 $1,327 46 123,317 00 Total.................................... 2,347 $9,371,676 68 561 $124,644 46 Several items in respect to the coinage of small pieces of silver, and of the new cents, are worthy of note:— 1. The amount of silver coined under the act of February 21, 1853, (which provided for the reduction of weight of small silver coins, etc., to relieve the then existing scarcity of small change,) during the pe riod embraced in this report, was—at Philadelphia, $1,427,000 ; at San Fran cisco, $50,000 ; total, $1,477,000, being a much less sum than in former periods of same length. No three-cent pieces were coined at any establishment. 2. The amount of fractions of the Spanish and Mexican dollar purchased, and paid for , Journal o f Banking, Currency and Finance. 339 in silver coins, was—at Philadelphia, $174,485 ; at New York, $112,502 ; at New Orleans, $1,360 ; total, $288,347. 3. On May 25th the coinage of the new cent was commenced, and the amount coined to June 30th was to the value of $60,000, Prom January 1st to May 25th, the coinage of cents and half-cents of the former standard amounted to $3,510 46. The deposits during the first six months of 1857, for exchange for the new cent, were— cents of former issue $16,602 ; fractions of Spanish and Mexican dollar, value by tale, (quarters, $78,295 ; eighths, $33,148 ; sixteenths, $16,602 ;) $128,045 ; total, $144,647. In the next table the copper coinage, viz., $1,662,813 15, is included in the amount of entire coinage at Philadelphia, and in the complete total:— A G G R E G A T E C O IN A G E O F T H E M IN T S TO JU N E Date. Mints. P h ila d e lp h ia . San Francisco N e w Orleans. C harlotte____ D a h lon eg a . . A ssa y -office.. Gold coinage. Silver coinage. 30, 1857. .----------- Entire coinage.----------- , Pieces. Value. 1793 $309,691,894 46 $86,113,625 45 544,138.163 $396,468,263 46 1854 71,494,789 48 414,684 45 4,532,043 71,909,473 93 1838 38,123,615 00 21,299,800 00 71,919,845 59,423,415 00 1838 4,463,659 00 1,077,507 4,463,659 00 1838 5,825,747 00 1,311,668 5,825,747 00 1854 52,061,333 70 130,109 63 14,563 52,191,443 33 Total....... $481,660,968 64 106,958,219 63 622,993,789 $590,282,001 72 The Director of the Mint, in the course of his report, refers to the aggregate amount of gold and silver bullion operated upon, as given above, and makes a suggestion as follows :— “ Of this amount, there has been received since the 1st of January, 1849, of native gold, the production of the United States, the sum of four hundred and two millions of dollars. If, in addition to this sum, we add the gold produced from Australia and other foreign countries during the same period, which may be stated to be about five hundred millions of dollars, and the production of sil ver bullion from all sources, which is at the rate of about forty millions per an num, it will be seen that within this comparatively brief period the world’s sup ply of the precious metals has been increased to the extent of twelve hundred and forty-two millions of dollars. In view of this great increase, and of the further supplies which will doubtless, for years to come, be received from the same sources, it may well be considered whether, in a country so highly favored with the production of gold and the supply of silver as ours, some measures should not be adopted by which the people, in like manner with the government, should enjoy the advantages of a specie currency.” The Director recommends the amendment of the laws relative to coinage—“ to provide that where fine gold bars are made and paid to depositors of bullion at the Mint and its branches, and at the Assay-office, that in addition to the charges now made for parting the metals, and for toughening, there shall be a charge of the one-half of one per cent, to be paid into the Treasury of the United States, as is provided by the sixth section of the act of February 21, 1853. That sec tion authorized this charge as well upon bars as coin, but the act of March 3, 1853, makes it apply only to coin. There seems no valid reason why this dis crimination should be made in favor of fine bars, which are used for transportar tion abroad instead of coin.” THE SAVIiVGS BANKS IN MASSACHUSETTS IN IS57 AND 1856, We compile the subjoined statement of the condition of the savings banks in Massachusetts in the years 1857 and 1856, from the official report for 1857, pre pared by F rancis D e W itt, late Secretary of the Commonwealth, to whom we are indebted for the copy before us. We have for many years published each annual statement of these savings banks; as, for example, in vol. xxxvi., p. 344 j 340 , Journal o f Banking, Currency and Finance. vol. xxxiv., p. 217 ; vol. xxxii., p. 228 ; vol. xxx., p. 351; vol. xxviii., p. 347 ; yol. xxvi., p. 731, etc. The following statement is an aggregate of the returns from the savings banks of their condition on the last Saturday of September in the years 1857 and 1856 :— 1857. 1856. 86 savings banks. 81 savings banks. Humber o f depositors.................................... Amount of deposits......................................... Public fu n ds..................................................... Loans on public fu u d s.................................... Bank stock......................................................... Loans on bank stock........................................ Deposits in banks bearing interest................ Railroad stock.................................................. Loans on railroad stock .................................. Invested in real estate..................................... Loans in mortgage of real estate.................. Loans to county or town................................. Loans on personal security........................... Cash on h a n d .................................................. Amount of ordinary dividend for last year Rate o f ordinary dividend for last y e a r.. . . Average dividends of last five years........... Annual expenses of the institution................ 177,375 $33,015,756 71 855,074 64 20,000 00 6,189,351 60 1,049,712 00 1,288,713 84 112,163 75 106,605 00 170,313 06 11,099,281 03 3,370,014 87 8,855,448 15 296,835 57 1,242,383 61 5.05 p. cent. 6.75 p. cent. 102,027 42 165,484 $30,373,447 36 881,999 64 6,837,413 00 1,027,631 57 666,472 24 110,414 00 149,946 00 151,094 83 10,529,327 86 2,938,414 46 8,366,121 54 458,771 73 1,123,038 49 4.19 p. cent. 6.75 p. cent. 89,308 24 CONDITION OF THE BANKS IN MASSACHUSETTS IN 1857. The Annual Abstract for 1857 of the Returns from the Banks in Massachu setts is a document of 124 pages octavo. Hon. F rancis D e W itt , late Secre tary of the Commonwealth, who prepared this report, has furnished us with an official copy, from which we compile the subjoined summary :— A G G R E G A T E C O N D IT IO N O F B A N K S IN M A S SA C H U SE TTS , O C T O B E R 17, 1857. D D E F R O M T H E BA N K S . 86 banks in Boston. Capital stock paid i n ............. Bills in circulation................... $31,960,000 00 6,800,591 75 N et profits on hand................. 3,322,140 98 Balances due to other banks.. Cash deposited* . . . ............. bearing inter’st Total am’t due from ba n ks... 3,581,055 98 12,366,997 74 984,224 65 69,015,011 10 137 banks out of Boston. $28,359,720 11,304,235 2,759,748 525,638 5,264,193 359,723 48,573,259 00 50 22 53 13 72 10 Total. $60,319,720 18,104,827 6,081,889 4,106,694 17,631,190 1,343,948 107,588,270 00 25 20 51 87 87 20 R E S O U R C E S O F T H E BA N K S . Gold, silver, and other coined metals in their b’king hous’s 2,623,766 00 987,341 45 Real estate................................ 901,970 47 706,642 97 Bills of banks in this and of the 3,989,881 35 395,768 85 other N. England S ta tes... 2,665,858 75 2,866,230 22 Bal. due from other banks... . 48,643,173 06 43,815,399 17 Amount of all debts due j . . . 148,671,022 19 59,015,011 10 Total resources of the banks.. Rate and amount of dividends since the last annual report— Oct. and Nov., 1866 April, 1857 .............................. 1,229,100 00 1,080,885 00 October, 1857 .......................... 1,204,350 00 890,800 00 3,611,097 45 1,608,613 44 4,385,650 6,522,088 92,458,572 107,586,022 20 97 23 29 29,750 00 2,309,985 00 2,095,150 00 * Including all sums -whatsoever due from the banks, not bearing interest, their bills in circula tion, profits, and balances due to other banks excepted. t Including notes, bills of exchange, and all stocks and funded debts of every description, ex cepting the balances due from other banks. } For difference in aggregates, see return from Worcester County Bank. Journal o f Banking, Currency, and Finance. R e serv ed profits a t tim e o f d e claring la st d iv id e n d ............. D eb ts due to banks, secured b y a p le d g e o f their stock ......... D e b t d u e and not p a id , & con sid ered d ou b tfu l...................... 341 3,041,513 83 2,486,911 13 5,5 2 8,42 4 98 365,991 25 327 ,91 2 52 6 8 3 ,90 3 77 269,445 61 *4 5 1 ,4 8 4 87 * 7 2 0 ,9 3 0 48 Average dividend of thirty-six banks in Boston, in April, 1857, is 3.85 per cent; of thirty-six banks in October, 1857, is 3.77 per cent. Average dividend of one hundred and thirty-one banks out of Boston, in April, 1857, (dividends paid on $27,135,000 capital,) is 3.98 per cent; of one hundred and sixteen banks in October, 1857, (dividends paid on $26,322,250 capital,) is 3.38 per cent. Average dividend of one hundred and sixty-seven banks in and out of Boston, in April, 1857, (dividends paid on $59,095,000 capital,) is 3.91 per cent; of one hundred and fifty-two banks in October, 1857, (dividends paid on $48,282,250 capital,) is 3.59 per cent. The capital stock of the following banks was increased at the session of 1857, viz.:— Name. Location. Am’t of increase. Agawam.............. Springfield.. $100,000 A sia tic.................Salem............. 105,000 Brighton Market..Brighton___ 100,000 Cape Ood..............Harwich____ 50,000 City.......................Worcester . . 100,000 50,000 Conway................C o n w a y .... Dedham .............. Dedham......... 50,000 Hampshire M a n u f.W are....... 100,000 H averhill............ Haverhill.. . . H opkinton.......... Hopkinton . . Housatonic........... Stockbridge.. Lee........................L ee................. Lynn Mechanics’ .Lynn............. 50,000 60,000 50,000 100,000 50,000 Location. Name. Mechanics’ ......... Miller’s River.. Mt. Wollaston . Old Colony. . . . Oxford.............. Pittsfield.......... Quincy Stone. . Taunton........... U n ion ............... W arren.............. Woburn............ Wrentham . . . . .New Bedford. .A th o l........... . Quincy.......... .Plymouth. . . .O x ford ......... .Pittsfield . . . .Quincy.......... .Taunton........ .W obu rn ___ Am’t of increase. $50,000 200,000 50,000 50,000 100,000 50,000 200,000 60,000 50,000 60,000 50,000 50,000 60,000 For the convenience of those who may wish to consult the previous annual statements, we give the following list of references for each year since 1845 :— Statement of 1846 ................... 1847..................... 1848................... 1849............. . . 1850..................... 1851..................... . . Vol. xvi. xviii. . . . xxii. xxiv. xxvi. Pages. Statement of 208, 307 1852..................... . 107 1853................... 86 1854................... 227 1855..................... 241, 488 1856................... 220, 729 Vol. xxviii. Pages. 353-356 479-481 221-222 215-216 341 THE BANKS OF THE UNITED STATES. C O M P IL E D F O R T H E M E R C H A N T S 1 M A G A Z I N E , B Y D A V I D M . B A L F O U R , E S Q ., O F M A S S A C H U S E T T S . The figures indicate the condition of the banks on the first day of January, 1858, or at a period just prior thereto. The bank note circulation of the United States at the present time, as indi cated below, is about one hundred and thirty-four millions of dollars ; of which, seven millions are in bills of the denomination of one dollar ; four millions of two dollars; three millions of three dollars ; fifteen millions of five dollars; five millions of ten dollars ; thirteen millions of twenty dollars ; twelve millions of fifty dollars; eight millions of one hundred dollars ; thirty-five millions of five hundred dollars; thirty millions of one thousand dollars ; and two millions in bills of the denomination of five thousand dollars:— * Of which amount, $42,1.26 40 is “ not considered doubtful.’1 ------------------------------ L I A B IL I T I E S .— States. banks & branches. Total Circulation. Capital. Deposits. $7,664,200 $2,194,623 $1,666,755 5,041,000 1,302,638 875,789 4,028,740 2,679,269 797,852 60,386,960 9,795,630 22,725,660 20,857,086 2,393,562 2,982,102 20,505,730 6,420,454 5,736,725 107,449,143 31,192,465 88,369.347 2,187,540 7,292,774 3,796,284 7,636,670 23,052,789 25,691,439 799,514 1,428,185 n 868,414 12,297,276 3,479,558 10,291,035 9,487,352 13,863,000 7,495,709 6,425,250 5,312,213 1,176,671 23 14,837,642 8,799,753 6,502,277 7,957,370 16,578,047 6,306,087 4 2,297,800 2,711,088 2,428,269 336,000 213,537 88,435 4,535,949 13,539,274 21,730,400 332,000 103,479 78,416 6,254,201 9,076,360 4,355,301 10,674,670 7,867,932 2,324,858 5,378,646 4,389,327 3,405,370 1,084,718 329,486 1,798,865 4,12S,089 3,040,356 3,030,051 5,098.152 1,647,340 1,146,682 1,719,605 425,572 345,580 574,416 5,940,000 3,933,186 4 220,262 205,000 125,291 1,407 $392,342,912 $133,951,556 $219,337,574 $43,395,463 $789,027,505 $673,986,767 $83,853,270 $31,187,468 $789,027,505 r Journal o f Banking, Currency, and Finance. Maine........................ New Hampshire.. . Vermont................... Massachusetts......... .Rhode Island........... Connecticut............. New Y ork............... New Jersey............ Pennsylvania........... Delaware................. Maryland................. Virginia............... North Carolina.. . . South Carolina........ Georgia.................... Alabama.................. Mississippi............... Louisiana................. T exas....................... Tennessee................. Kentucky................. Ohio........................... Michigan.................. Indiana.................... Illinois...................... Missouri................... "Wisconsin................. Nebraska................ ____ ----------- % f---------------------- ----------- R E S O U R C E S . Notes, Profits Bills of Eeal Estate. Total. Total. Exchange, &c. Specie. on hand. $140,902 $11,922,349 $396,771 $11,922,349 $11,164,537 $616,910 82,001 7,747,748 7,747,748 275,934 528,321 7,389,813 7,827,548 135,268 7,827,548 208,858 7,483,422 321,687 6,322,485 1,608,613 100.061,930 7,153,680 100,061,930 92,130,832 27,552,730 27,552,730 527,787 26,422,274 602,669 1,319,980 34,513,252 453,132 34,513,252 1,750,343 32,537,030 1,523,090 11,980,105 238,991,060 200,363,090 31,204,356 7,423,614 238,991,060 13,848,345 1,308,851 350,518 13,848,345 12,188,976 571,747 59,473,677 6,027,218 1,353,285 59,473,677 52,093,174 3,092,779 3,531,886 130,000 3,531,886 3,255,519 146,367 435,773 27,002,148 27,002,148 3,522,561 402,217 934,279 23,077,370 32,534,332 872,368 32,534,332 3,092.741 1,688,271 28,569,223 14,087,964 192,475 14,087,964 1,156,933 12,738,556 1,173,830 32,135,132 649,111 82,135,132 1,299,039 1,995,460 30,186,982 32,905,710 2,388,944 12,188,678 32,905,710 18,328,088 2,064,206 78,148 1,139,312 7,906,122 468,965 7,906,122 6,688,662 11,413 676,864 7,912 676,864 657,539 43,892 2,470,683 41,599,888 41,599,888 28,623,992 10,505,213 1,794,265 647,822 7,586 5,297 647,822 534,939 88,927 590,715 20,573,922 20,573,922 17,326,670 2,656,537 888,060 465,907 23,324,895 23,324,895 4,728,956 18,130,032 2,457,435 375,770 13,649,872 1,616,254 13,649,872 11,657,848 476,529 144,948 371,986 3,309,997 2,793,063 97,428 3,309,997 227,599 10,772,633 10,772.633 9,124,958 1,420,076 579,137 8,304,138 8,304,138 54,474 411,964 7,573,547 676,117 2,679,830 2,244,473 837,102 98,255 2,679,830 189,073 10,985,250 10,985,260 552,938 150,315 537,648 10,281,997 560,461 136,325 560,461 420,181 3,975 9,908 342 r N um ber of , 343 Journal o f Banking Currency, and Finance. PHILADELPHIA BANKS—CAPITAL AND DIVIDENDS. In the Merchants’ Magazine of July, 1857, (vol. xxxvii., p. 83,) we published statistics of the banks in Philadelphia, showing their capital and the several semi-annual dividends in November and May, for two years, to May, 1857, in clusive. We now give the list of the same banks, their capital, and the per cent dividends made in May and November, 1857, together with the amount of money paid out by each bank at the latter date. In this list the Germantown Bank is included, which was omitted from the former list. Two other banks are also omitted, as they have their dividend periods in January and July, viz., the Bank of North America and the Bank of Pennsylvania. The latter named institution, however, will probably never make another dividend, except a dividend of assets among creditors. Banks. Philadelphia................................................ Bank of Commerce.................................... Manufacturers and Mechanics’ Bank.. . . Mechanics’ B ank........................................ Western Bank............................................. Northern Liberties B a n k ......................... Farmers and Mechanics’ Bank................. Penn Township Bank.......................... .. Commercial B ank...................................... Girard Bank................................................ Southwark Bank........................................ Kensington Bank........................................ Tradesmen’s Bank...................................... Consolidation Bank..................................... City Bank..................................................... Germantown B a n k ............................... .... Capital. $ 1,1 50 ,0 0 0 250,000 300,000 800 ,00 0 4 1 8 ,50 0 600 ,00 0 1,968,980 350,000 1,000,000 1,250,000 250 ,00 0 250,000 150,000 250.000 500,000 Total.................................................... $9,5 87 ,5 8 0 0 6 8 Dividend. $ 34 ,50 0 7,500 9,000 24,000 12,553 15,000 59,0 69 10,500 30,000 87,6 00 7,500 7 ,5 0 0 4,500 7,500 15,000 3 6,000 75J 48 May. Nov. a 3 3 3 3 3 5 5 6 6 5 5 5 4 3* 5 6 5 4 200,000 8 3 3 3 3 3 3 8 3 $ 287,627 The banks, it will be seen from the above, divided in May, 1857, 271 per cent more among their stockholders than they did under their November dividends; but, from the great appreciation of currency recently, it is probable the amount now paid out will have nearly or quite the purchasing power of the larger sum paid out in May. The law of the extra session of the Legislature of Pennsyl vania, in the fall of 1857, limited the dividends of the banks of that State, while under suspension, to 6 per cent per annum. This provision was probably put in the law at the instance of the banks themselves, as it could easily have been avoided had they been disposed to divide larger amounts, simply by postponing the acceptance of the law until after the dividend period, and as the law required them to resume before the May dividends, they could have gone on dividing all that they had earned. It is wise, however, that the limit was fixed, as it relieves bank officers from the complaints of stockholders, and does away with the rivalry among banks as to which shall make the largest dividend. It is presumed that all the banks of the Commonwealth, now in credit, that have usually made 3 per cent dividends and upwards, will conform to the law limiting the dividends to that figure. _________ A SINCULAll CIRCULATING MEDIUM. Dr. Armstrong, in his “ Personal Narrative of the Discovery of the Northwest Passage,” a work of considerable interest, and which we trust the H arpers or A pplevons, or some other enterprising publishers, will shortly reproduce in this . 844 Statistics o f Trade and Commerce country, gives the following account of a circulating medium adopted by the voyagers:— As we had been then nearly two years depending on our own resources, the want of tailors, bootmakers, and such other essential agents to the comfort of men became apparent; they, however, were wonderfully well supplied—necessity developing new talents in our crew. During the previous winter they had at tained such a degree of excellence in these and other trades, that it was quite surprising to see the admirable work they could turn out of hand, without having had any previous knowledge of the handicraft. Tradesmen thus became estab lished in the ship; as elsewhere, their custom was proportionate to the reputation they enjoyed for the excellence of their workmanship ; and both officers and men had their favorites whom they employed. To remunerate them became the next object for our consideration ; but we had no money, and Jack could keep neither book nor accounts. We, therefore, determined to establish a coinage suitable to the emergency. Gun wads were adopted as the circulating medium ; the sum due was marked on one of them, with the initials ol the officer who contracted the debt, which insured its being negotiable throughout the ship. Numbers of them got into circulation, were passed from hand to hand like Bank of England notes ; in short, became the currency in all monetary transactions, and were duly honored when presented for payment on our return to England. The industrious artificer was well remunerated for his work by the handsome sum he had accu mulated during this and subsequent years. STATISTICS OF TRADE AND COMMERCE. THE WHALE (A B R ID G E D FROM TH E N E W FI SHERY IN 18 5 7. B E D F O R D W H A L E M E N ’ S S H I P P I N G L 3 8 T .) The number of American vessels employed in the whale fishery, at the com mencement of 1858, includes five hundred and eighty-seven ships and barks, eighteen brigs, and forty nine schooners, making an aggregate of 203,148 tons. During the past year, 1857, there were but few vessels added to the fleet, while several were withdrawn and others lost, making a diminution as compared with the beginning of the year of 665 tons. The loss of vessels in the northern whaling fleet during the year was unusually small, including only two ships—the New ton, of New Bedford, and the Indian Chief, of New London. The whaling fleet in the North Pacific Ocean comprised about one hundred and fifty ships, which was a diminution of about thirty ships as compared with the fleet of 1856. The quantity of oil obtained by one hundred and nine ships, whose arrivals at the Sandwich Islands have been reported, averages 808 barrels, which does not vary much from the average of the preceeding year. 01 the fleet in the Ochotsk Sea, some of the vessels met with good success, and others did com paratively nothing. The importation of sperm oil during the year falls short of that of the preceeding year 2,500 barrels, and of whalebone, 534,000 pounds, while the im portation of whale oil shows an excess of 33,000 barrels over that of 1856. The increased importation of whale oil during the year has arisen chiefly from ship ments, via Sandwich Islands, by vessels which have not completed their voyages, and will consequently be followed by a diminished importation the present year, estimated at from 75,000 to 100,000 barrels, and a corresponding diminution of bone. The stock of sperm oil now on hand, as exhibited in our tables, exceeds that of the corresponding period of 1857, by about 10,000 barrels ; of whale oil, 47,000 barrels ; and of whalebone, the quantity on hand is about 60,000 pounds less than in January, 1857. The financial pressure which prevailed throughout this country and in Europe, 345 Statistics o f Trade and Commerce. was severely felt in the whale fishery, from a greatly diminished consumption in its staples, and a consequent reduction of prices to a point in many cases involving actual loss, and at which holders were willing1to operate only as their immediate necessities have required. The demand for the foreign market, although exceed ing that of 1856, was limited, and with the large stock on hand, and the great stagnation (1858) in business generally, the prospects of the whale fishery for the coming year, are far from flattering. Most of the ships now at sea have been fitted at high cost, owing to the high prices which prevailed for outfits and labor during the past year, and unless at a considerable advance on the present prices for oil, must necessarily fail to remunerate their owners, for the capital and in dustry employed in their protracted voyages. The best hope of a more successful future is only to be found in a diminution of the market, aud a return of activity to the various branches of industry in our country, with which the whale fishery is so intimately connected. Stock of sperm oil, whale oil, and whalebone, in importers’ and speculators’ hands in the United States, on the 1st of January, 1858 :— Barrels sperm oil. 33,159 Total in New Bedford district___ .................. Total in other ports........................ Grand total............................ Barrels whale oil. 65,403 26,790 92,193 Pounds whalebone. 156,200 179,300 235,500 Imports o f sperm oil, whale oil, and whalebone, into the United States in 1857 Total in New Bedford district.. . ......... Total in other ports....................... Grand Grand Grand Grand Grand Grand Grand Grand Barrels sperm oiL 61,446 total for 18 57...................... total for 1856...................... total for 1855...................... total for 1854...................... total for 1853....................... total for 1852...................... total for 1851 ..................... total for 18 50...................... Barrels whale oiL 149,044 81,897 Pounds whalebone. 1,479,850 579,000 230,941 197,890 184,015 319,837 260,114 84,211 328,483 200,008 2,058,850 2,692,700 2.707.500 3,445,200 5,652,800 1,259,900 3,916,500 2,809,200 In addition to the above for 1857, there have been imported into the port of St. Johns, N. F., 3,129 barrels seal oil, 124 barrels whale oil, and 20 barrels sperm oil. Exports of oil and whalebone :— 1856 ................................................................. 1857................................................................. 20,052 37,231 971 17,407 2,000,784 1,835,662 Prices of sperm oil, whale oil, and whalebone, on the 1st and 15th of each month, in the year 1857 :— January................................. February............................... March...................................... April...................................... May........................................ June........................................ July........................................ August.................................. September............................. October................................. November............................. December............................. /---- Sperm oil.-----* 1st. 15th. $1 30 $1 30 1 30 1 34 1 38£ 1 34 £ 1 47 1 47£ 1 47 1 87| 1 25 1 25 1 25 1 25 1 25 1 25 1 29£ 1 30 1 80 1 30 1 80 1 01£ 1 00 1 05 /—Whale oil.—, 1st. 15th. 79c. 79c. 79 79 73 75 74 76 78* 74f 69£ 72 72£ 71i 74 74 74 74 74 74 74 65 65 65 /—Whalebone.—, 15th. 1st. 65 65 80 73 79£ 79J 80 80 82 87£ 86 921 97£ 85 97* $1 27£ $1 28 1 36 1 35 1 35 1 10 1 10 1 00 1 00 346 Statistics o f Trade and Commerce. Sperm oil. Average Average Average Average Average for for for for for 1 8 5 7 ................... 1 8 5 6 ................ 1 8 5 5 ................ 1 8 5 4 ................. 1 8 5 3 ................ $i 1 1 1 1 "Whale oil. W halebone. m 73*C . 96fc. 62 7 7 2 -1 0 48} 24} 79* 71 3 -1 0 68} 68* 52 45} 3 9 1-5 34* Number of vessels and amount of tonnage employed in the whale fishery :— Ships & B’rks. January 1st, 1858....... ............... January 1st, 1857....................... January 1st, 1856....................... January 1st, 1855...................... .................. January 1st, 1854...................... .................. January 1st, 1853...................... 584 603 Brigs. 18 22 21 20 28 30 Sch’rs. 49 40 29 34 38 32 Tonnage. 203,148 204,209 199,141 199,842 208,399 206,286 THE HIDE AND LEATHER BUSINESS IN PHILADELPHIA. We compile the accompanying statistics and remarks from articles in the Commercial List:— There is invested in the hide and leather business in Philadelphia, a capital of not less than two millions of dollars; and in the manufacture of morocco and sheep-skins at least five hundred thousand dollars. Moreover, a steady increase of the trade has been experienced up to the present year, 1858, and from the fa cilities of procuring all that is necessary for the manufacture of leather, and especially on account of the superior quality of the Schuylkill water for the manufacturing of leather and morocco, Philadelphia promises to become the principal leather manufacturing city in the Union. IMPORTATION OF HIDES. The following table shows the annual import of hides into the port of Phila delphia from 1831 to 1857 inclusive, excepting 1835 and 1836 :— 1 8 3 1 ... 1 8 3 2 ... 1 8 3 3 ... 1 8 3 4 ... 1 8 3 7 ... 1 8 3 8 ... 1 8 3 9 ... 1 8 4 0 ... 1 8 4 1 ... 1 8 4 2 ... 1 8 4 3 ... 1 8 4 4 ... 1 8 4 5 ... Foreign. Coastwise. 132,492 no return. 173,761 51,060 63,485 84,593 93,691 51,879 20,166 127,057 95,853 29,372 1 24,208 23.905 127,526 13,050 143,440 14,084 123,674 19,670 84,609 9,370 19,092 127,632 90,725 8,655 Total. 132,492 224,821 148,078 145,576 147,233 125,225 148,113 140,576 157,524 143,244 93,979 146,724 99,280 18 46____ 1847____ 1848____ 1849____ 1850 . . . 18 51____ 1852____ 1853____ 1854____ 1855____ 1856____ 1 8 5 7 ____ Foreign. 51,815 76,139 52,414 102,698 103,882 134,226 130,154 119,977 174,597 156,102 109,755 125,180 Coastwise. 17,742 75,818 72,300 88,284 47,791 85,727 37.154 24,434 10,451 12,800 9,399 22,320 Total. 69,557 151,957 124,714 90,928 151,673 169,952 167,308 144,411 185,048 168,402 119,154 148,228 Foreign hides imported into Philadelphia in 1857 :—Porto Cabello and Laguayra, 87,176 ; Brazil, 19,032 ; Spanish main, 5,100; Africa, 14,570; ag gregate, 125.898 ; [this appears to be 150 too much—E d.] Calcutta, bales of kips, 150; total coastwise, 22,320. INSPECTIONS OF LE ATH E R. The law requiring the inspection of leather at the port of Philadelphia, went jnto effect in May, 1843. The inspections since 1843 have been as follows:— 18 44............ 1 8 4 5 ........... . . 1 8 4 6 ........... 1 8 4 7 ............ 1 8 4 8 ........... Bides. 233,377 231,501 241,183 363,531 301,261 | 1 8 4 9 ........... 1850............ . . 1 18 51............ 1 18 52............ j 18 53........... Sides. 819,156 371,937 1854........... 1855........... 1856 ......... 1857........... Bides. 471,690 496,520 476,573 421,053 Statistics o f Trade and Commerce. 347 REVIEW OP THE TRAD E DURING 1857, ETC. The leather trade, during the past year, 1857, experienced greater fluctuations than for many years previous. Business in January opened promisingly, and prices advanced gradually, until they reached a point seventy-five per cent higher than the ruling prices of any former year. An increased demand for all kinds of harness and bridle leather for the use of the armies in the Crimea, was supposed to be the main cause of the advance in price that immediately followed the de claration of war by Prance and England against Bussia. Whether this was the fact or not, it is very evident that the price of leather advanced rapidly from the moment war was declared by those powers, and that it speedily declined upon the cessation of the same. Hides fell fifty per cent within the year, and leather twenty-five per cent, and when the stock of hides now (January, 1858,) in process of tanning is brought into market, a still greater falling-off in the price of leather must inevitably occur, unless a very large demand for the manufactured article should happen, which is not probable, within a year. Notwithstanding the unprecedented reduction in prices, and the panic of the fall of 1857, but few leather houses went down before the blast. While hides rule so mueh less than heretofore, goat-skins have only slightly declined. This is attributed to the present mutiny of the Sepoys, as the great bulk of goat-skins is imported from India ; and the hilly districts, whence the skins are obtained, are those which were first taken possession of by the muti neers, and, consequently, but a limited number of skins reach Calcutta and Madras for exportation. Sheep-skins have experienced a still greater decline than hides. In January, 1857, they brought $2 50 per dozen, whereas, they are now, (January, 1858.) selling from 50 to 75 cents per dozen, and, as a matter of course, all kinds of roans and linings have receded in a like proportion. Morocco, on the contrary, in consequence of the prices of goat-skins being maintained, has not declined in value. In fact, if any sudden demand were to spring up, the prices would advance, as but a very limited amount was manufac tured during the last three months of 1857. COMMERCE OF CHILE. The San Francisco Prices Current, of 12th December, 1857, furnishes us with a condensed view of Chilean commerce for the year 1856, derived from the report of the Minister of the Interior. The mercantile marine of Chile numbers 267 vessels, of 62,652 tons, and 2,743 sailors. The vessels entering the ports of Valparaiso, Talcahuano, Caldera, Huasca, and Ancud, annually, have about 700,000 tons in all. The following were the chief exports, with their value, for the year 1856 :— Coal.......................................... Barley................ i .................... Dried Beef.............................. Copper, in bars................ Copper, in pigs..................... Copper ore............................... Gold and silver coin............... $195,080 279,118 68,341 3,000,173 3,314,179 1,840,352 528,941 Copper and silver ore............ W ool......................................... $313,470 226,235 S ilv e r in bars............................... 2,689,563 Silver ore................................. Flour......................................... Wheat..................................... 1,076,780 1,423,387 936,319 The total exports were $18,159,522, of which $17,061,731 were the produce of the country; $1,087,781 were of foreign goods, which had been previously imported. The total imports for the same year amounted to $19,804,045. The following is a s atement of the number of pounds of several of the principal articles im ported. Sugar, 621,700 pounds ; coffee, 316,300 pounds ; tea, 113,824 pou ids; iron, 13,837,200 pounds. The total revenue of the State for 1856, was $7,509,867. 348 Statistics o f Trade and Commerce. COMMERCE OF HAVANA FOR TEN YEARS. We copy from the Prensa, of Havana, a comparative statement of the foreign arrivals at the port of Havana for the last ten years, distinguishing those which carried the American, Spanish, and English flags. The rest of the carrying trade is distributed about equally between French, Belgian, Dutch, Danish, Bre men, and Hamburg vessels Y ears. 1 8 6 7 ................ 1856................. 1855................. 1854................. 1853................. 1852................. 1851................. 1850................. 1849................. 1848................. Total. 1.933 1,815 1,717 1,782 1,717 1,647 1,800 1,542 1,611 1,699 American. 959 883 889 903 813 750 856 634 743 729 Spanish. 684 652 627 571 553 578 550 541 563 656 English. 152 131 116 122 136 143 191 164 159 156 Total tons. b^G '666 662,426 613.155 557,186 627.402 620.196 668,483 423,468 607,034 382,519 T h e coastw ise arrivals during 1857 were 3,640. EXPORTS OF SUGAR FROM HAVANA IN 1857. Spain.............................. United States............... Cowes, Cork, Falm outh......... Great Britain, (Con.) . R u ss ia ........................... Swedt n and Denmark H amburg and Bremen . . . . . . Holland............ ............. Boxes. 175,391 159,393 185,187 50,586 7,066 27,665 21,069 8,690 B elgium .................. Fiance..................... Gibraltar................. Trieste and Venice Genoa .................... English Provinces. M exico and South A m e r ic a .. Boxes. 82,104 92,852 7,457 17,617 4,157 74 12,775 — Total............. 802,298 E X P O R T S OF SU G A R FR O M H A V A N A AND M ATAN ZAS. The following is a tabular statement of the exports of sugar (reduced to boxes) from the ports of Havana and Matanzas, for the past ten years. We add thereto the principal destinations, remarking that the remaining exports are about equally distributed between the Baltic ports, Hamburg, Bremen, Holland, Belgium, France, Austria, and Italy — Years. 1857............................... 1856............................... 1855............................. 1854............................. 1853............................. 18 52............................. 1851............................. 18 50............................. 1849............................. 1848.................. .......... Total. 1,116,096 1,163,318 1,298,950 1,245,454 1,073,413 1,017,486 1,237,891 1,013,534 850,318 1,000,341 United States. 302,112 356,512 817,469 238,726 244,698 331,881 355,435 251,281 112,156 232,320 Spain. 222,092 225,413 272,713 159,877 142,026 150,408 133,569 106,302 149,304 159,238 B r i t , p o r ta . 327,435 304,062 345.379 480,941 399,070 266,616 403,032 660.516 348,139 367,486 The last column includes both the exports for consumption in Great Britain and those in transit. The exports in 1857 to the Baltic were 47,532 boxes; to Hamburg and Bremen, 26,045 ; Holland, 8,690 ; Belgium, 37,592 ; Italy, 7,157 ; France, 1,094; Trieste, 22,413 ; other ports, 17,734. E X P O E T S O F TO BACCO F B O M H A V A N A . The exports of tobacco from the port of Havana the past year, in other forms excepting cigars, were 3,590,135 pounds; of cigars, 149,560,000—a falling off in the lormer, as compared with the exports of 1856, of 5,017,539 pounds; in Statistics o f Trade and Commerce. 349 the latter of 80,191,000. The following tabular statement will show the amount of the pure Havana exported to different countries during the two years just mentioned:— ,- - - - - - 1857.- - - - - - , Cigars, M. Spain............................. 5,759 47,039 165 24,548 473 1,391 30,779 950 4,354 6.512 19,851 United States................... Cowes and Falmouth . . . Great Britain.................... Russia............................... Sweden and Denmark.. Hamburg and Bremen... H olla n d ........................... Belgium............................. France............................... Trieste and Venice.......... Genoa................................ Other countries............... Tobacco, pounds. 1,797,330 934,562 2,788 27,277 8,421 101,278 803 29,330 23 1,071 28,623 2,729 3,463 43,376 5,288 236 5,114 149,560 3,590,135 229,755 133,386 485,010 102,505 91,763 18,302 1 Total......................... — 1856 ■ Cigars, M. Tobacco, pounds. 3,026,759 2,311,550 13,657 407,540 715 1,030,980 52.730 328,238 477,610 53,710 4,256 8,607,674 0M PHILADELPHIA TO FOREIGN PORTS. The annexed comparative statement of the exports of breadstuffs from Philadelphia to foreign ports during the last twenty-seven years, we copy from the Philadelphia Commercial List, which observes, concerning the table, that it does not exhibit the increase in the trade with other countries that is desirable. However, the statistics are interesting to examine, and they show that if proper encouragement was given to the shipping interests of that port, by her merchants, a very different aggregate of a single year’s exports would result:— Year. 1831.................... 1832.................... 1833.................... 1834.................... 1835.................... 1836.................... 1837.................... 1838.................... 1839.................... 1840.................... 1841.................... 1842.................... 1843.................... 1844.................... 1845.................... 1846.................... 1847.................... 1848.................... 1849.................... 1850.................... 1851___ . . . . . 1852.................... 1853.................... 1854.................... 1855.................... 1866.................... 1867.................... Flour, barrels. ......... ......... 132,622 87*905 ......... ......... ......... ......... ......... _____ 67,113 83,680 69,622 191,380 287,774 195,555 ......... 196,433 ......... 220,786 ......... ......... 218,197 346,356 Corn-meal, barrels. 45,432 60 323 51,903 50,018 60^869 42,798 63,803 64,002 73,800 89,486 108,822 97,884 106,484 101,356 115,101 144,857 300,531 140,014 91,349 94,334 65,385 68,182 74,189 70,024 95,168 91,830 47,571 Eye flour, barrels. 8.433 13,040 27,939 23*795 21,038 27,429 17*276 14,211 24,527 36,471 26,866 22,530 22,303 21,904 17,098 19,730 20,407 16,537 26,536 25,054 10,505 6,285 3,780 9,192 12,767 15,043 8,364 Wheat, bushels. 61,282 2,258 2,903 37,831 280,047 56,571 87,953 32,235 23,375 86,089 245,136 523,538 207,092 177.312 205,670 225,201 494,163 882,910 187,629 226,071 643,859 201,200 Corn, bushels. 42,293 48,859 fifi 70S SI fi9fi 25*457 19 117 91 38ft 17 087 17*117 76,749 80,266 83,772 74,613 110,068 129.256 279,820 1,102,201 817,150 906,823 602,680 654,545 113,993 522,702 923,649 686,252 1,094,256 603,236 350 Statistics o f Trade and Commerce. In the Merchants' Magazine of March, 1854, (volume xxx., pages 363-4,) we published the comparative prices on 21st January, of eight years, 1846-1854, of all the before named articles. MACKEREL AND OTHER FISHERIES OF MASSACHUSETTS. The inspection of mackerel, in Massachusetts, during the year 1857, according to the returns received by William Puller Davis, Inspector General, was as fol lows :— Boston......................... ........... Barnstable................... Chatham...................... ............ Cohasset.................................. Dennis.......................... Gloucester................... Harwich..................... . Hinubam...................... ............ New bury port............... Plymouth.................... Provincetown........................... Rockport...................... .......... Truro............................. W ellfleet...................... ........... Yarmouth..................... No. 1. 18,142$ 1,133 2,107$ 2,026$ 3,430$ 3,132$ 6,365$ Total..................... Total inspection, 1857. Of which there was re •inspected....................... Total catcli................... No. 2. 12,502$ 184$ 665$ 1,568$ 1,708 14,128$ 2,628$ 2,386$ 8,612$ 12 2,562 1,836$ 662$ 5,054$ 318 No. 3. 11,107$ 216$ 1,135$ 2,931$ 1,678$ 7,976$ 2,903$ 3,504 3,387$ 2 2,061$ 710$ 830$ 4,350$ 156$ No. 4. 228 49,795$ 42,952$ 724, 185,388$ 16,683 168,705$ 61$ 5$ 28$ 199 79$ S3 i 15$ .... 11 .... 17 45 .... The comparative inspection for a number o f years has been as follows No. No. No. No. 3 ............................. 4 ................................ 1856. 89,338$ 76,819$ 47,981$ 178 1855. 29,187$ 91,125$ 90,801$ 1,338$ 1854. 30,595$ 46,242$ 55,133$ 3,378$ Total.................... 214,312$ 211,952$ 135,349$ 1 ............................ •bbls 2 ........................... 1857. 91,917$ The inspection of other kinds of pickled fish in 1857, was as follows :— Menhaden.................................. 203 P ollock .............................................. S alm on .............................................. S alm on trout................................. S h a d ................................................... S w o r d f i s h ....................................... 60 1,447 58$ 4 73 1 4 64 $ Tongues and sounds................. 6901 Total in 1857................................................................................... 7,1221 A le w iv e s ......................................... B lu e fis h ......................................... 2,497 6 41$ Cod.............................................. H addock.................................... 136 130 Halibut fins........................... 1211 Herring .................................... 298$ The Merchants’ Magazine of May, 1857, vol. xxxvi., p. 616, contains the in spector's statement for the year 1856. The number of March, 1856, vol. xxxiv., pp. 362-363, contains the statement for 1855. The number of February, 1855 vol. xxxii, pp. 237-238, contains the statement for 1854, and the totals of in spection from 1825 to 1854. EXPORTS OF CALCUTTA IN 1856 AND 1857. In the Merchants’ Magazine of January, 1858, vol. xxxviii., p. 95, we pub lished a statement of the quantity of Bengal produce brought down to Calcutta 351 Statistics o f Trade and Commerce. in 1834 and 1856, with other items of interest in regard to British India. We now copy from the London Times a statement of some of the leading articles of export from Calcutta to Great Britain, France, and North America, for twelve months ending the 31st of July, 1857, and twelve months ending the 31st of July, 1856, showing the extent to which, during the last two years, the supplies of these productions have been drawn from that market. The Times considers that dependence cannot be had upon Calcutta receiving any of the produce of the disaffected districts to the north and west of Benares from July, 1857, until tran quility is restored there :— /------Great Britain.------ » Produco. Sugar. . . . . . . . . . . Eum . . . . . . . . . . . . . Saltpeter. . . . . . . R aw silks. . . . . . . . . .lbs. Corahs. . . . . . . . . . R aw cotton . . . . R ice. . . . . . . . . . . . . H ides........... Safflower....... Jute............ Linseed........ . Mustard seed... C utch. . . . . . . . . . Lac d y e ....... Indigo. . . . . . . . . . . , .chests 1857. 1856. 28,800 294,800 11,800 724,800 130,580 10,580 29,000 2,643,148 647 17,300 10,870 82,660 320 615 14,600 88,600 390,970 12,890 963,100 317,380 10,380 46,600 1,617,520 927 25,450 38,980 7,650 91 468 20,500 ,-------Franco.------- * /—North America.- 1857. 1856. 1857. 2,956 117,653 3,790 146,964 571 1,178 74,610 4,327 37,148 8,438 9,018 354,070 16 3,590 1,498 4,208 61,294 71 2,671 1,393 130 362 11 9,043 none none 223 11 7,065 none none 1856. 90 none none 10,777 1,036 13,126 none none none 5,640 9,933 490,585 20 7,763 55,298 6,872 363,391 17 4,060 35,596 442 229 76 2,515 none none none none 1,983 EXPORTS OF WILMINGTON, NORTH CAROLINA, IN 1856 AND 1857. The Daily Journal, of Wilmington, North Carolina, gives the following state ment of the exports from that port during the year ending 31st December, 1857, compared with the year 1856 :— Articles. Spirits turpentine. .b b ls . “ “ 5 gal.. can9 .bbls. Crude “ Rosin....................... T a r ................................ P itch ..................... Flour....................... T im b e r , pitch pine.. ■feet Lumber, pitch pine Shingles................. . No. S t a v e s ......................... . Peanuts................... bush. Cotton..................... b a le s “ sheeting.. . . “ waste.......... “ warp............ Newspapers.......... ...b d ls . W ool....................... .b a le s R ic e , c l e a n ............. “ rough............ Wheat................... ..bush. /- - - - - - - - - - 1856.- - - - - - - - - , Foreign. 1,184 5,988 10,201 6,957 2,079 836 651,000 10,678,211 4,883,500 70,000 33 96 .... 273 14,685 Coastwise. 113,025 2,090 64,921 428,582 57,130 4,551 2,153 219,441 11,012,876 43,649 25,150 76,113 21,205 1,946 1,898 66 206 3,824 75 388 112,868 73,332 ,- - - - - - - - - - 1837.- - - - - - - - - - , Foreign. 5,843 1,952 34,851 2,009 821 309 303,000 15,186,121 3,941,500 458,003 41 238 19,000 60 Coastwise. 114,918 348 39,207 361,138 32,724 2,700 1,790 233,378 10,855,404 772 137,200 89,753 12,121 1,665 1,564 109 91 2,705 41 174 147,030 23,599 In former volumes we have published the trade of Wilmington in successive years ; as, for example, the exports in 1854 and 1855,, in vol. xxxiv., p. 360 ; do. in 1853, vol. xxx., p. 744, etc. 352 Statistics o f Trade and Commerce. ENTRANCES AND CLEARANCES OF VESSELS AT PHILADELPHIA. The following statement shows the number of entrances and clearances of foreign and coastwise vessels at the port of Philadelphia, during 1856 and 1857, according to the Commercial List of that city :— -lUkru. \ /—Foreign.— , ,— Coastwise.— » Ent’d. ( l ’rd. Ent’d. Cl’rd. 15 19 16 4 4 17 34 121 66 63 65 170 141 90 64 129 125 65 46 129 111 53 35 121 149 65 22 151 162 39 31 173 181 41 40 151 147 40 30 99 98 43 89 91 — — — — 573 429 1,356 1,304 r January................... February................. M arch...................... April......................... May...........................____ June.......................... ____ Ju ly.......................... ____ A ugu st.................... ____ Septem ber ........... October.................... November.............. ____ December............... 1Q57 ia Coastwise.—» /—Foreign — . Ent’d. Cl’rd. Ent’d. Cl’rd. 25 10 19 4 51 49 63 25 115 121 74 42 108 136 40 37 147 42 127 82 152 159 52 33 132 137 69 22 188 166 41 32 184 131 39 18 117 66 34 23 94 63 32 27 86 83 18 32 — — — — 1,039 1,267 506 875 r EXPORT TRADE OF CHICAGO IN 1857. Statement of the quantity and estimated value of articles of merchandise of domestic growth or manufacture exported from Chicago, Illinois, during the year ending December 31st, 1857, compiled by J a c o b F r y , Collector :— Articles. Ashes, pearl............................... Apples, dried............................ Acid, nitric................................ Agricultural implements........ ...........No. Beef, salt................................... Butter........................................ BacoD......................................... ** assorted......................... B arley........................................ Beans......................................... Bran............................................ Beer............................................ Cars, railroad............................ ...........No. Corn, shelled............................. Clover seed................................ Cattle......................................... ...........No. Cider.......................................... Corn meal.................................. Corn, b room .............................. Candles...................................... Cement..................................... C h eese...................................... Em pty barrels.......................... ...........No. E n gines................... ................ Flour ........................................ .........bbls. Fish, p ick le d ............................ Glue........................................... Biglvwines................................. H id e s ........................................ ...........No. H orses....................................... Total amount. 348 116,462 9,623 157,500 2,160 53,973 162,602 11,848,275 4,704 24,594 3,115 1,500 420.900 116 7,932,394 745 54,280 583 111,420 3,803 1,224 24,809 767,531 110,904 10 370,735 1,108,000 130,680 6,495 274,999 3,573 Average prices. $100 00 08 3 50 60 75 00 11 00 20 10 20 00 1 00 1 00 01 25 700 00 60 175 00 30 00 5 00 1 00 10 00 3 12 00 11 2 00 500 5 00 00 08 10 12 00 4 50 120 CO Total value. $34,800 00 9,316 96 33,680 50 94,500 00 162,000 00 593,703 00 32.520 40 1,134.827 50 94,080 00 24,594 00 3,115 00 15 00 105,225 00 81,200 00 4,759,436 00 130,375 00 1,626,900 00 2,915 00 111,420 00 38,030 00 146 88 74,427 00 84,428 41 221,808 00 5,000 00 1,863,675 00 88,640 00 13,068 00 77,940 00 1,237,495 50 428,760 0.0 353 Statistics o f Trade and Commerce. Total amount. 100,646 8,584.632 12,290 500 6,239 17,500 1,029 112 11.136 1,662,910 7,236,600 594 703,098 17,280 47,635 27,860 3,683 2,562 10,160 19,529 l,653,00p 472,363 9,292 480 734,909 26,268 Articles. H ogs, l i v e ........................... H u m s................... Hair.............. H o p s.................... Hay...................... Hoops ................................. ................ No. Hubbs................................... Iron castings....................... Lime..................................... Lard..................................... Lead...................................... Marble................................... Oats....................................... Oil. lard............................... Pork..................................... P otatoes............................. Pumps.................................. .................No. Pork, in b u lk ..................... R y e ...................................... Sheep .................................. .................No. S ta v e s ............................... . Starch.................................. Spokes................................. Soap.................................... . Taliow................................. Tim othy-seed..................... Tim ber............................... Vinegar................................ W h is k y ............................. Wheat.................................. W ool.................................... W agons............................... .................No. 33,831 31,952 495,052 10,169,535 8,468,359 2,195 Average prices. $10 00 13 20 10 6 00 01 2 00 20 00 2 00 11 01 40 00 30 60 12 00 30 5 00 160 00 1 00 1 50 05 08 OH 08 10 1 50 014 25 30 1 00 20 100 00 Total value.............. Total value. $1,005,460 00 466.1102 16 2,458 00 50 00 87,434 00 175 00 2,058 00 2,240 00 22,272 00 182,920 10 72,366 00 23,760 00 210 929 40 10,368 00 570,420 00 8,358 00 18,415 00 409,920 00 10,150 00 29,293 50 82,650 00 37.7S9 04 139 38 38 40 73,490 90 39,402 00 507 46 7,988 00 148,515 00 10,169,535 00 1,693.671 80 219,500 00 $28,716,349 29 TRADE ACROSS THE AMERICAN PLAINS. In November, 1857, the Leavenworth (Kansas) Times, gave some statistics of the amount of business carried on at that city by Messrs. Russell & Waddell, in the transportation of freights and military stores to Salt Lake, Santa Fe, and the great plains lying west of that place. According to its account, this firm then had at work, 35 organized trains, each of which averaged 185,000 pounds, making the whole amount of stores, sent forward, very nearly 6,500,000 pounds. The firm had then sent out (during the season, we infer— E d .,) and duplicated thirtythree trains, each averaging twenty-five wagons and eight yoke of oxen to each wagon. The statistics of cattle, therefore, sum up as follows :—Eight hundred and twenty-five teams, of eight yoke each— 13,200 head ; on hand, for supplies on return, 1,000 head ; beef cattle to Salt Lake, 850 head ; total, 15,050 head of cattle. The number of horses and mules employed is given at 500. The number of messengers, agents, and teamsters, is stated at 1,000 ; and that of mechanics, wheelwrights, and smiths, at 200. The wagons used on the plains are now brought from St. Louis. The Times says they can be made as cheaply at Lea venworth, and advocates the founding at that point of a large establishment for their manufacture. VOL. X X X V III.-----NO. III. 23 854 Statistics o f Trade and Commerce. NAVIGATION RETURNS OF THE PORT OF BOSTON, The Boston Shipping List publishes the subjoined statement of clearances and arrivals of vessels at Boston, for four years :— CLEARANCES FOR C A L IF O R N IA A N D A U S T R A L IA . 1857. 1856. 1855. 1854. 48 5 .. 1 — 54 52 9 .. .. — 61 51 7 .. 1856. 1855. 1854. 241 351 723 1,377 227 326 849 1,682 246 895 883 1,567 2,692 3,084 3,091 Ships....................... Barks-..................... Brigs......................... Schooners.™ . . . . . —Total............... A R R IV A L S FROM F O R E IG N 59 PORTS. 1857. Ships....................... Barks....................... Brigs....................... Schooners................ Total............... V O R E IG N 1 _ CLEARANCES. 1856. 1855. 1854. Ships....................... Barks....................... Brigs............... . . . Schooners................ 1857. 210 357 755 1,618 193 39S 948 1,759 233 394 873 1,671 Total................ 2,940 3,298 3,171 Besides the above, forty-six steamers arrived during the year, and forty-five cleared. The coastwise arrivals, and the clearances, as far as known, as many are not entered at the Custom-house, were :— Arrivals.................................................................... Clearances................................................................ 1857. 1856. 1855. 1854. 5,740 2,597 6,971 3,055 6,271 3,268 6,480 3,451 PRICE OF FLOUR IN PHILADELPHIA 1855-57, We compile from the Commercial List, of Philadelphia, the annexed table showing the average monthly prices of flour in that city during the last three years. In the Merchants' Magazine of June, 1855, volume xxxii., pages 732-3, we published a table of the average monthly price of flour in Philadelphia in the months of January, April, July, and October, in each year from 1785 to 1854, inclusive. In March, 1854, volume xxx., pages 363-4, we gave the comparative price on 21st January, of eight years, 1846-1854, of flour, rye flour, corn meal, wheat, and corn :— 1855. January.. February. March. . . A p r il-.. . M a y -.. . . June........ $9 18* 8 94 9 06* 10 25 10 75 10 52 1856. $8 7 7 6 6 6 33 31 00 57* 06* 94 1857. $6 6 6 6 7 7 32 87* 12* 00 19 45 * December, 1855, $8 81} July........ August.. . . September. October.... . November . December*.. 1855. 1856. $9 31 S 81 7 47 8 37 9 31 ... $6 56* 6 62$ 6 49 6 69 6 62* 6 60 to $3 90, average of three weeks. 1857. $6 6 5 5 5 5 87* 50 62* 25 31* 12* Statistics o f Trade and Commerce. 355 EXPORTS OF FLOUR AND WHEAT FROM TORONTO IN 1856 AND 1857. The shipments of flour and wheat from Toronto, Canada, during the year 1857, fell far short of those during 1856. They are both exhibited as follows, giving the destination and amounts for each year :— ,---- Flour, barrels.-----» 1856. P0rta. /------Wheat, bushels.------ » J857. 1856. 1857. Oswego.................................... Ogdensburg............................. Cape Vincent.......................... Rochester................................ Montreal................................. Quebec..................................... Portland................................. Other ports.............................. 31,844 38,988 5,854 393 60,099 11,567 .......... 2,078 27,769 35,712 17,169 8,236 38,571 11,400 9,535 14,086 684,314 207,666 203,681 34,141 78,312 14,259 ............ 2,979 163,39» 120,550 102,281 39,644 29,592 6,825 2,057 41,276 T o t a l.............................. 171,730 162,478 1,225,352 505,62a Decrease in 1857, 8,252 barrels of flour, and 719,730 bushels of wheat, The decrease is better seen by the following, which exhibits the flour of both years reduced and added to the wheat, with the value thereof 1856 ........................ 1857 ......................... 2.084,007 bushels at 1,318,812 “ Decrease........... 765,195 $140 1 10 value $2>917,609 “ 1,449,813 “ 1.467,796 This decrease, according to one of our Toronto cotemporaries, indicates that at the close of 1857, there was in the vicinity of Toronto, a large amount of grain to come forward. IMPROVEMENT OF LAKE HARBORS OF THE UNITED STATES. Under a resolution of the Senate of the United States, passed December 22, 1857, the Secretary of War has furnished an estimate of the amounts required to complete the improvements of certain harbors on the lakes. The present list includes only those harbors which are considered as requiring immediate repairs. Harbors. To complete. Dunkirk.............. $401,818 66 27.679 35 Buffalo.............. E r ie ................. 417,499 95 Conneaut.......... 31,559 60 Ashtabula........ 38,013 56 Grand River.. . 41,498 94 Cleveland___ 44,757 87 For year. Harbors. To complete. $85,66369Black R iver.. . $33,881 93 27,67935Verm illion.. . . 42,856 61 113,01299Sandusky........ 112,117 00 15,77980River Raisin... 23,857 90 19,00678Maumee B a y .. 45,100 00 41,498 94 44,757 87 Total........... 1,260,641 37 For year. $16,940 96 21,428 30 56,058 50 23,857 90 22,450 00 488,175 08 NAVIGATION AND TRADE OF THE RIVER VOLGA. A German paper states that the quantity of merchandise annually carried on. the Volga is nearly as large as that on the Mississippi. The navigation of the river is also increasing rapidly. Steam-navigation companies are forming, and private individuals are also putting on steamers. Hitherto the majority of steamers used have been built abroad, but now many are being constructed in Russia. The number of arrivals at Rybinsk, the principal port on the Volga, from the commencement of the season to the 13th of August, 1857, was 3,037 ; and the total number, including those which went further up the river to Molaga and Schoksna, 6,836. The value of their cargoes, united, is estimated at more than $51,200,000. Corn, corn spirits, tallow, salt, copper, and iron, form the principal bulk of these cargoes. 856 Commercial Regulations. TRADE OF DUNKIRK, NEW YORK, IN 1857. . The Dunkirk Journal publishes the followin g table of receipts at that port by lake and railroad, in 1857. The items by railroad are imperfect—-that is, no account was taken of the articles which are represented by blanks :— Flour.......................................... Whisky................................ Beef, pork, and bacon........... Wheat................................... Corn..................................... Wool.................................... Butter.................................. Cattle.................................... Sheep................................... Hogs.................................... Received by lake. Received by railroad. 242,967 38,532 20,153 93,44 8 114,652 2.152,800 1,208,400 9,236 10,782 10,865 111,115 14,621 50,171 68,245 21,322 33,300 134,400 Total. 354,072 63.153 71,324 93,448 114,652 2,221,048 1,208,400 30,558 44,092 145,265 THE SUGAR AND COOLIE TRADE OF MAURITIUS. To show the “ dependence ” of the sugar growers of Mauritius on the “ Indian labor market,” we have compiled the following table from our latest files of Mauritius papers, showing the quantity of sugar exported from Mauritius, the number of Coolies introduced, and the number remaining on the island, each year from 1843 to 1855 Years. 1 8 4 3 .... 1 8 4 4 .... 1 8 4 5 .... 1 8 4 6 .... 1 8 4 7 .... 1 8 4 8 .... 1 8 4 9 .... Sugar exported. rounds. 55,125,758 74,542,693 87,034,312 122,494,822 114,525,743 110,989,017 126,678,577 Number Number imi gr’ts remaining intr d d. Jan. 1. 49,503 34,625 11,549 54,939 10,971 61,601 7,339 65,441 69,310 5.830 71,481 5,395 7,425 73,812 Years. 1850___ 1 8 5 1 .... 1 8 5 2 .... 1 8 5 3 .... 1854___ 1 8 5 5 .... Sugar exported. Pounds. 110,937,38S 133,329,092 141,639.662 184,024.447 170,622,707 253,892,673 Number Number imi gr‘ts remaining intr'd'd. Jan. 1. 79,736 1U,U30 10,020 86,404 17,485 100,205 12.144 109,695 18,484 121,273 12,915 128,786 COMMERCIAL REGULATIONS. CHILEAN PORT REGULATIONS. E xport D uties. (Nothing else pays any export duty)— Chile Guano, 12| cents per 1,000 lbs.; five per cent, on the following articles:— Bar silver, on valuation of $9 per marc; unsmelted silver (pina,) do.; old plate (chafalonia.) do.; copper in bars, on valuation of $14, per 100 lbs.; do. retalla do., $9 do.; do. regulus ores, calcined ores, silver ores, mixed ores, and tailings not capable of amalgamation, and tailings (relaves.) all pay five per cent on proceeds ot account sales when received from place of destination. The provincial contribution on export of copper ores is now abolished. P o r t C h a r g e s . Tonnage dues, 25 cents per ton ; light dues, 3J cents per ton ; role and captain of the port’s fees, $ 1 ; harbor master’s fees, $8. Whale ships, vessels in distress or in ballast, or discharging under twenty packages, are exempt from tonnage and light dues. Tonnage dues paid at one port are not levied in another. The lading charges which are on account of the owner of the goods, may be calculated at from 125 to 150 per ton, according to the description of merchan dise. Consignee's charge generally 5 per cent commission for sales, and 2Jguaranties. F oreign F lags. The only ports of entry for foreign flags are Ancud, Valdi Commercial Regulations. 381 via, Taleahuano, Constitucion, Valparaiso, Ooquimbo, and Caldera, and Lota and Coronel in ballast; and vessels from abroad entering any other port are liable to seizure. Coasting trade is prohibited to foreign flags, but they may discharge portions of their original cargoes in one or more ports, and loa d Chilean produce for a foreign port. All communication with the shore is prohibited until after the visit of the port and revenue officer, who will require a general manifest of the cargo, or the bill of lading, and a list of stores. Twenty-four hours are allowed for correction of errors or omissions. For any mistakes discovered afterward, the captain is sub jected to fines or seizure. Passengers’ luggage free. L o n g it u d in a l M e a s u r e s . The Spanish vara is employed:—its length is about 33 English inches, or 36 French millimetres. Yards and metres are reduced in the proportion of 100 yards for 108 varas ; 100 metres for 119 varas. G r a i n M e a s u r e s The Chilean fanega is equivalent to about 97 French litres, and is regulated by weight in the following manner :—White wheat and barley, 155 lbs.; flinty wheat and Indian corn, 160 lbs.; beans and chick peas, 200 lbs. A t Concepcion the fanega of wheat is about 14 per cent heavier. BILLS OF HEALTH FOR SPANISH PORTS, We are informed that the Government of Spain, issued at Madrid, on 30th September, 1857, orders respecting the arrival of vessels at ports of that king dom, of which the following is a translation :— 1. Every bill of health issued in a foreign port where a consul or consular agent resides, shall be certified by him. The same formality shall be observed when there being no consul or consular agent at the port of departure, there may be one at another port within a distance of five leagues ; and in defect of this, then by a consul or consular agent of any friendly nation. 2. In case that there is no European consular agent, either in the port of departure or within a distance of five leagues, the captains shall cause this fact to be certified by the authority issuing the bill of health. 3. When the captains cannot obtain a bill of health, from its not being cus tomary, or there being no such documents issued at the port of departure, they shall provide themselves with testimony of this fact in the most authoritative possible form to make it evident, and in every case they shall provide themselves with a bill of health at the first port they may arrive or touch at. NEW ZEALAND DUTIES OF CUSTOMS. The State Department at Washington has recently received information that alterations have been made in the duties of customs of New Zealand. By an act of the General Assembly the duties charged upon the subjoined goods were removed from and after the 5th day of August, 1856 :— All articles for the supply of her Majesty’s land and sea forces ; animals, living; bricks, slates, and stones for building purposes, and mill-stones ; boats; books printed, not being account books; bottles full of an article subject to duty; bullion and coin; casks, empty; coal ; corn, grain, meal, flour, bread, and biscuit; gunpowder, fit only for blasting purposes: pig iron; machinery; manure; oil, blubber, and bone, the produce of fish or marine animals; plants, bulbs, trees, and seeds; passengers’ personal baggage; plows and harrows; specimens illustrative of natural history ; tobacco for sheep wash, subject to its being rendered unfit for human consumption, and to such regulations as the governor shall from time to time prescribe in that behalf. The duties charged upon the subjoined articles previous to the passage of this act have been reduced as follows :— Ale, beer, cider, and perry, in wood, the gallon, 6d.; ale, beer, cider, and perry, 858 Commercial Regulations. in bottle, the gallon, Is.; cigars and snuff, the pound, 3s.; coffee, chicory, and chocolate, the pound, 2d.; iron, rod, bar, bolt, hoop, and sheet, not otherwise manufactured, the cwt., Is.; salt, the cwt,, 1?.; spirits, and strong water of every kind, sweetened or otherwise, of any strength not exceeding the strength of proof by Syke’s hydrometer, and so in proportion for any greater strength than the strength of proof, the gallon, 8s.; sugar, raw and refined, of all kinds, and treacle and molasses, the pound, ^d.; tea, the pound, 3d.; tobacco, the pound, Is. 3d.; wine, in wood and bottle, containing less than 25 per cent of alcohol of a specific gravity of 825 at temperature of 60 degrees Fahrenheit, the gallon. 3s.; wood of all kinds, not manufactured into furniture, the cubic foot, 2d.; boots and shoes, hats, apparel of all kinds, and all materials for making apparel, jewelry, cutlery, clocks, watches, and patent ware, and all silks, woolen, cotton, and linen manu factures, (except corn and gunny bags, and woolpacks,) sperm, stearine, and wax candles, (measuring outside the packages,) the cubic foot, 3s.; all other goods, wares, and mtrehandise, (measuring outside the packages,) the cubic foot, Is.; or at the option of the principal officer of customs at the port of entry at which the same shall be imported, the cwt., 2s. A drawback of the whole of such duties is allowed for wines intended for the consumption of the officers of her Majesty’s troops serving in that colony, and of the officers of her Majesty’s navy serving on board any of her Majesty’s ships in the seas adjoining thereto. DAMAGE ON MOUSSES. U n it e d S t a t e s T r e a s u r y D e p a r t m e n t , January 15, 1858. S ir :—You are informed that so much of the 407th section of the General Regulations, which relates to the allowance for damage on molasses, souring on the voyage, is hereby repealed ; and that molasses will hereafter be embraced in the list of articles required by 404th section of said regulations, to be sub mitted to this Department, for authority for allowance for damage by souring on the voyage. The importers must furnish satisfactory proof that the molasses, when shipped, was sweet, and became sour during the voyage of importation ; and, also, the relative market value of sweet and sour molasses at the date of shipment; which proof will be submitted by you to the Department with your report of facts. I am, very respectfully, IIOW ELL COBB, Secrerary o f the Treasury. A. W. A u s t in , Esq., Collector, &c., Boston, Mass. REGULATIONS OF TOBACCO MANUFACTURERS IN VIRGINIA AND NORTH CAROLINA. The Virginia and North Carolina tobacco manufacturers met in convention at Richmond, in the forepart of December, 1857, and adopted resolutions that agents for the sale of manufactured tobacco shall, after the first of July, 1858, limit their credits to four months ; shall make no allowance from the actual weights of tobacco; shall state the names of purchasers, and agents shall not deal in manufactured tobacco on their own account, or have any intervention with brokers. It was also resolved to petition Congress to make it felony for the manufacturers and dealers of tobacco in any one State to use the name of any other manufacturer, or the name of any other State, or any other town or district in another State, in branding their tobacco. SALE OF FRUITS AND VEGETABLES IN PHILADELPHIA. The Select and Common Councils of the city of Philadelphia, recently passed an ordinance to regulate the sale of fruits and vegetables in that city, the prin cipal portion of which is as follows :— “ It shall not be lawful for any person to sell within the limits of the said city Journal o f Insurance. 359 any potatoes, tomatoes, peaches, pears, plums, apples, or other fruits or vege tables, requiring measurement, by any other measure than the bushel and its divisions; and each bushel of white potatoes to weigh sixty pounds to the bushel, and fifty pounds for sweet potatoes to the bushel, and for each and every sale hereafter made by the basket, or by any other measure or measures than those herein designated, the person or persons making the same shall forfeit and pay the sum of five dollars, to be recovered by suit in the name of the city of Phila delphia, in like manner as similar amounts are now recoverable by law, one-half to be paid into the city treasurer, and the other half to the person or persons prosecuting for the same.” JOURNAL OF INSURANCE. MARINE INSURANCE—GENERAL AND PARTICULAR AVERAGE. We herewith publish the synopsis of two cases, under the above title of law, that were recently tried and decided before the Queen’s Bench, England. Lord Campbell, Chief Justice. Wo make use of the report in the Canada Insurance Gazette, which is evidently copied from an English journal. The cases are closely connected, and elucidate an important principle. In both the same question arose, under very similar but distinguishable circumstances, as to what losses are sub ject to general average, i. e., to proportionable contribution and compensation from the parties interested in the ship and cargo jointly; and what belongs to particular average alone, i. e., are subjects of compensation from that one or more of the above interests alone for whose exclusive benefit the expense of making good the loss was incurred :— In Jab. v. Langlon, 26 L. J. 97, Q. B., the defendant had underwritten a policy of insurance on a ship of which the plaintiff was owner. While the policy was in force the ship met with an accident and went ashore. Consequently it became necessary to discharge the cargo, which was done; and subsequently the vessel was got off and taken back to port, and repaired at considerable cost. In the meantime the cargo had been forwarded to its destination by another ship; but for the purposes of this case it was agreed that it should be taken to have been so forwarded by the ship in question. The question for the Court on these material facts was, whether the defendant was bound to contribute to the above specified cost as incurred for damages within the policy on the ship, or whether he wa3 entitled to claim an abatement on the principle that such costs were in curred jointly for the benefit of the ship and cargo, and therefore properly apportionable as general average between the parties liable on these distinct in terests. The Court held that the loss was one falling under particular average, and belonging exclusively to the owners and underwriters of the ship, and that it was not to be apportioned between the latter and the persons interested in the cargo. Up to the time when the cargo was discharged the loss was one of general average; but as soon as the cargo was discharged the subsequent expenses in curred in making a channel for the ship and tugging her to Liverpool, where she was repaired, were for the benefit exclusively of the ship, as much as the repairs which were admitted to be so. But the Court, in laying down the doctrine, stated that they did so because, according to the special facts, it did not appear to be for the benefit of the cargo that the ship should be got off and repaired. But Lord Campbell, 0. J., in delivering the judgment of the Court, said :—“ We do not say that there may not be a case where, after a fortuitous Stranding of the ship and the cargo has been unloaded, expenses voluntarily incurred by the owner of the ship to get her off, and to enable her to complete the voyage, whereby the cargo, which otherwise must have perished, is carried to its destination, may be general average, as the stranding of a ship with a perishable cargo on a desert 860 Journal o f Insurance. island in a distant region of the globe.. But in the present case the owner of the ship, after the cargo was discharged, appears to us to have done nothing ex cept in the discharge of his ordinary duty as owner, and for the exclusive benefit of the ship.” , 1° Moran v. Jones, 29 L. T. Kep. 86, the facts were very similar. The plain tiff was owner of the ship, and had insured freight on a policy underwritten by the defendant. The ship had incurred damage, and part of the cargo had been consequently removed in order to allow of repairs, and when they were completed the unshipped part of the cargo was again shipped. The distinguished point between this part of the case and the preceding case appears to have been in tho fact, or inference drawn by the Court, that the cargo had never been actually put of the custody of the master of the ship, and that therefore the repairs subse quently to the removal must be considered as having been made as much for the benefit of the cargo as for that of the ship. The Court held the case to be one of general average, in which the loss must be duly apportioned between all the respective interests, viz., ship, cargo, and freight. The Court said :—“ In Job v. Langton we considered that the goods had been saved by a distinct and com pleted operation, and that afterwards a new operation began which could not be properly distinguished from the repairs done to the ship, in order to enable her to pursue the voyage. But in the case on which we have now to adjudicate the goods were put into a lighter by the master of the ship, along with the materials of the ship saved from the wreck, and they remained in the custody and under the control of the master till the ship was repaired, when they were reloaded in the ship and carried forward, without the interference of the owners of the goods, to their destined port.” PAYMENT ON DIVIDENDS BY INSUItANCE COMPANIES IN CANADA. We give below the substance of an act relating to all the insurance companies of Canada. Its principle feature is that no dividend or bonus be declared or paid, unless from the surplus earnings or profits arising or made from the business of such companies, over and above their paid-up capital:—“ If the managers, directors, or trustees of any fire, life, marine, or other as surance company, incorporated by the Legislature of Canada, or of Upper Canada or Lower Canada, shall declare and pay any dividend or bonus, out of the paidup capital of said company, or when the company is insolvent, or which would render it insolvent, or which would diminish the amount of its capital stock, such managers, directors, or trustees who may be present when such dividend or bonus shall have been declared, and which said dividend shall be paid, shall be jointly and severally liable for all the debts of the company then existing, and for all that shall be thereafter contracted while they shall respectively continue in office; provided always that if any of such managers, directors, or trustees, shall object to the declaration of such dividend or bonus, or to the payment of the same, and shall at any time before the time fixed for the payment thereof, file a written statement of such objections in the office of the company, and also in the registry office of the city, town, or county where such company is situated, such managers, directors, or trustees shall be exempt from such liability.” PHILADELPHIA INSURANCE COMPANIES, We give a list of the Philadelphia Insurance Companies, which specifies tho date of the organization of each, its authorized capital, subscribed capital, paidup capital, and assets, deriving it from a table in the New York Insurance Monitor, prepared in September, 1857, by its editor, who remarks, that “ in the absence of any official returns from Philadelphia companies, wc give the amount of paid-up capital or assets as stated by the several companies on inquiring at their offices.” We omit a column of his table which specifies the “ kind of busi- 361 Journal o f Insurance. nes3 done ” by each company, a9 this is generally indicated b y the name o f the com pany; but we have compiled from the column, a summary, v iz .:— The whole number o f companies enumerated is 49, and they are thus classified :— Fire, Marine, and Inland, 22 ; Fire only, 14 ; Fire, buildings only, 2, (the first two in the lis t ;) Fire and Life, 1 ; Fire and Live Stock, 1 ; Fire and Life, Marine and Inland, 1 ; Life, Trust, and Annuities, 3 ; Life and Trust, 2 ; Marine and Inland, 3— each o f which is o f the “ Mutual ” class. Besides the above, there are a few district Mutual Fire Companies doing a limited local business in insurance on buildings :— Date of organ'n. Name of Company. 17 o 'l Philadelphia Contributiouship . . . . 1784 Mutual Assurance Comp.my......... 1794 Insurance Company of North America. 1794 Insurance Company of State of Penn. 1803 Union Mutual lusurauce Company.. 1804 Phoenix M utual.................................... 1810 American Fire Insurance Company. 1812 Penn. Co. Insurance, LMA., and T r ... 1825 Pennsylvania Fire Insurance Company. 1827 American Mutual Insurance Company. 1833 County Fire Insurance Company, Phila. 1835 Delaware Mutual Safetyf ..................... 1827 Frankliu Fire Insurance C om p a n y .... 1835 Spring Garden Fire Insurance Company. 1836 Girard Life Insurance, A. and T. G o ,... 1839 Columbia Mutual insurance Company. . 1844 Reliance Mutual lusurauce Company... 1847 Pennsylvania Mutual Life Insurance Co. 1848 Philadelphia Fire and Life Ins. Co......... 1849 Mercantile Mutual..................................... 1850 American Life Insurance and T. C o . . . 1850 U. States Life Insurance. A. and Tr. Co. 1851 Philadelphia Insurance Company.......... 1853 Independent Mutual Insurance Co........ 1853 Equitable Mutual Insurance Company.. 1853 Girard Fire and Marine Insurance C o .. 1853 Commercial Mutual................................. 1854 Commonwealth Insurance Company... . 1854 Anthracite Insurance Company............ 1852 Hope Mutual............................................. 1851 Western Insurance Company................. 1854 Phila. Mutual Fire and Live Stock....... 1854 Merchants’ Insurance Company............. 1854 Mechanics’ Insurance Company............. 1855 Merchant?’ and Mechanics’....................... 18c 5 Farmers’ and Mechanics’ ....................... l s855 Manufacturers’........................................... 1855 Atlantic Mutual........................................ 1855 Exchange Mutual........ ............................. 1856 Consolidated ............................................ 1856 Jefferson Fire............................................. 1856 Great Western......................................... 1856 Continental................................................... 1856 Howard Fire and Marine......................... 1856 Quaker City Fire and Marine................. 1756 Fame Fire........................................... 1857 City Fire.................................................... 1857 Kensington Mut. Fire and Mar. Ins. Co. 1856 Neptune Insurance Company................. * * Assets. Paid-up Authorized capital. Subscribed capital. $500,000 200,000 300,000 120,000 277.000 500,000 400,000 100,000 .$500,000 200,000 300,000 120,000 277,000 500,000 200 000 100,000 100,000 100,(100 400,000 200,000 300,000 300,000 300,000 300,000 500,000 250,000 500,000 250,000 800,000 200,000 500,000 400,000 500,000 200,000 300,000 400,000 100,000 200,000 1,250,000 500,000\ 500.000 300.000 300.000 500.000 500,1100 1,000,000 1,000,000 600,000 500,000 100,000 2(10,000 300,000 600,000 capital & assets. $941,653 200,000 *439,475 100,000 250,000 200,000 300,000 250,000 200,000 275,000 600,000 200,000 100,000 100,000 *617,348 *1,900,000 140,000 300,000 110,000 *218,973 *600,000 *154,000 *377,269 100,000 *1,240,629 200,000 300,000 250,000 40,000 200,000 100,000 153,000 150,000 100,000 200,000 100,000 100,000 300,000 125,000 200,000 100,000 *153,000 150,000 100,000 150,000 100,000 *185,000 300,000 125,000 150,000 200,000 150,000 160,000 200,000 200,000 600,000 200,000 100,000 40,000 100,000 10(1,000 *408.190 200,000 100,000 40,000 100,000 100,000 400,000 120,000 300,000 80,000 178,000 100,000 ........ t Formerly Odd Follows Mutual. Postal Department. 362 CREDITS ON MARINE RISKS IN PHILADELPHIA. We learn that the Board of Underwriters of Philadelphia have adopted a new scale of credits to be allowed on marine risks, which is essentially as follows :— On single risks, “ to or from ports in the United States or British Provinces,” the credits to be reduced from three to two months. “ Out and home, on same risks,” from four to three months. On risks •*to or from the west coast of America, and to the Sandwich Islands,” or vice versa, the credit to be four months instead of six months. “ Out and home,” six months instead of eight months. On open policies, *•from all foreign ports to ports in the United States,” six months. On all inland open policies a credit of eight months. All open policies when full, to be closed until a new credit be opened. Premiums under $50 to be considered as due in cash, but when the accumulated premiums of any one party, during any one month, exceed $50, a credit of two months may be allowed. All premiums to be settled, according to contract, before the delivery of the policy. Premiums for time risks, for one year on vessels, to be settled by two notes—ono-half the amount at six months, and the other half at twelve months; and in case of non payment at maturity of the first note falling due, then the policy thereafter to be void and of no force. The same rule to be ap plied to all risks of shorter periods than twelve months. POSTAL DEPARTMENT. EXTENSIVE USE OF POSTAGE STAMPS AND STAMPED ENVELOPS. From the annual report of the Postmaster-General of the United States for 1857, we learn how extensive has become the use of postage stamps and stamped envelops. During the fiscal year ended June 30, 1857, the gross revenue (ex clusive of $700,000 from government for franked matter) was $7,353,951 76 ; of which $5,447,764 51, or somewhat more than three-fourths of the whole, were from “ stamps sold ”— this item including stamped envelops. The receipts from “ letter postage ” were $983,207 24. The expenses during the same year for postage stamps amounted to $30,638 80, and for stamped envelops, $63,597 74. From another source we have the subjoined statistics, which have the appear ance of authenticity. According to this account, the number and value of stamps contracted for by the Post-office Department from January 1 to Septem ber 30, 1857, were as follows :— January 1 to March 31 ........................ April 1 to June 30................................ July 1 to September 30....................... 45.666,995 stamps, equal to $1,229,774 20 40,559.750 “ “ 1,122,386 20 44 909,415 “ “ 1,248,224 70 Or, in all, over one hundred and thirty millions of stamps, equal to three million six hundred thousand dollars. MAILS FOR CENTRAL AMERICA, (PACIFIC SLOPE.) We are requested by the Post-office Department to direct public attention to the arrangement made in January. 1857, for dispatching a regular monthly mail to San Jose de Guatemala, La Union, Acajulta, Realejo, San Juan del Sur, and Punta Arenas, seaports on the Pacific slope of Central America. This mail is Postal Department. 363 made up and dispatched by the New York and New Orleans post-offices, by the California mail steamers of 5th of each month, and is forwarded from Panama, New Granada, to destination, by the steamship Columbus, belonging to the Pan ama Railroad Company. In addition to the seaports above named, letters may be forwarded by this mail to the following inland towns in Central America, viz., Esquiutla, La Antigua, Guatemala, Quesaltenango, and other places in Guate mala on the Pacific slope of the republic; San Miguel, San Vicente, Cojutepeque, Sonsonale, San Salvador, and other places in Salvador on the Pacific slope; Amapala, (lsla de Tigre.) and Comayaqua, in Honduras; Chinandega, Leon, Managua, Masaya, Virgin Bay, Rivas, Granada, &c., in Nicaragua ; San Jose de Costa Rica, Rica, Cartago, Alajuela, Heredia, Esparsa, San Mateo, Atenas, &c., in Costa Rica. The United States postage must, in all cases, be prepaid in this country, which is 10 cent3 the single letter when the distance from mailing office to place of destination is under 2,500 miles, and 23 cents when the distance is over 2,500 miles. RATES OF POSTAGE TO AUSTRIA, ETC,, VIA FRANCE. A new postal convention was concluded between the governments of France and Austria on the 3d of September, 1857, by which certain changes have re sulted in the rates of postage upon correspondence exchanged by the way of France, between the United States and Austria, and the countries to which Aus tria serves as an intermediate point. The rates to be levied in the United States on and after the 1st of February, 1858, upon letters addressed to the following countries and places, by French mail, will be as follows:— Austria and its States, and the city of Belgrade, 21 cents the single rate of £ ounce or under, prepayment optional, being in full to destination. Mol lavia, Ionian Islands, Adrianoplo, Seres, Sophia, Rustchuck, Antivari, Scio, Bourghas, (Janea, Durazzo, Ianina, Larnica, Prevesa, Sinope, Tenedos, and Valona. 30 cents the single rate of i ounce or under, prepayment optional, being in full to destination. Montenegro, Servia, (except Belgrade,) and cities in European Turkey, other than those enumerated above, or in the “ Tables of Postages to Foreign Coun tries,” 21 cents the single rate of \ ounce or under, prepayment required, being in full to the Austrian frontier only. Postmasters should note these changes of rates upon their tables of postages to foreign countries. CONTENTS OF DEAD LETTERS. The number of dead letters containing articles of value other than money, re gistered and sent out for delivery to the owners during the six months ended De cember 31, 1857, was 4,364, the contents of which were as follows :— Bills of exchange, drafts and letters of credit, bonds, notes, checks, orders and treasury warrants, certificates of deposit, accounts and receipts, which, computed at their nominal value, amounted to $1,460,685 58. Also, 307 deeds and land titles, 72 articles of agreement and policies of insurance, 42 certificates of stock, 142 pen sion papers and laud warrants, 512 miscellaneous articles, and 120 daguerreotypes. Nearly all of the above letters, with their contents, were delivered to their pro per owners. A very large proportion of the valuable dead letters reach the dead-letter office through the fault of the writers—either on account of misdi rection, illegible writing, or neglect to prepay the postage. 384 Nautical Intelligence. POST-OFFICES IN ONTONAGON COUNTY, UPPER MICHIGAN. The Ontonagon Miner has published a statement which will be of service to those who have correspondence with the Lake Superior copper regions, and which we copy, with some verbal alterations, as follows :— There are five p°st-offices in the county of Ontonagon, Michigan, viz , Onton agon, Minnesota Mine, Adventure, Algonquin, and Fewabic. Mail matter for these should bo sent by Wausau, Wisconsin, between which place and Ontonagon there is a semi-weekly mail. Mail matters for Marquette, Michigan, should not come by this route, as that village is some 130 miles from Ontonagon, on an en tirely different route. By some blunder of the postmasters below, much of our (Ontonagon) mail matter, during the earlier part cf the present season, (1857,) was sent by way of Superior, which is some 200 miles from Ontonagon by land, without even a good trail between the points. Several bags of mail matter for this district were left at La Pointe. on a late trip, which might have been here five or six weeks previously had they been sent by the proper route. NAUTICAL INTELLIGENCE. THE GR00MSP0RT NEW LIFE-BOAT, The Belfast (Ireland) Mercantile Journal gives a descriptive account of a new life-boat, which we commend to the attention of navigators. Captain Forbes, the nautical philanthropist of Boston, should look into the matter, and if found to possess the qualities attributed to it, the subject should be laid before Congress as soon as practicable. We copy from the Journal:—We are glad to understand that the Royal National Life-boat Institution has deputed its inspector of life-boats, Capt. Ward, R. N.. to visit this neighborhood, and to put himself in communication with our town authorities and the resident gentry on the subject, and that it has offered to station here an excellent new life boat, together with a transporting carriage, provided the inhabitants of Bel fast and its neighborhood will contribute the cost of the erection of a suitable building for their reception, and raise in annual subscriptions from £20 to £30 towards the permanent and efficient maintenance of the life-boat establishment. The character and peculiar qualities of the life-boats now built for this valuable institution are well known, for hardly a week passes in which one does not see some record of their services in saving the lives of poor shipwrecked sailors : in deed, the testimony in their favor from all parts of the coast is almost universal. We will name a few of their remarkable qualities. Although unusually difficult to be capsized from their peculiar build, yet, in the event of such an accident, they have the power of immediately righting themselves again. They also self eject the sea they may ship in a few seconds, through relieving tubes in their flooring; they row well against a heavy sra and wind, and their inertia (or the force on them) is so great that they shoot ahead in circumstances when ordinary life-boats would be thrown back considerably. Each life-boat of the institution has a coxswain or master attached to her, at a salary of £ 8 a year; a volunteer crew, who are paid either 5s. or 3s. a man, according to the weather; every quarter they are required to go afloat in the life-boat for exercise. Such is the new class of life-boats of the Royal National Life-boat Institution, and the mode of its manning them. We believe there will be no difficulty in this town in com plying with the terms of the society. Indeed, we can safely say that, with ordi nary diligence, the whole cost of a life-boat station might be readily raised at Belfast and its vicinity. The society has recently placed such life-boats at New castle. Drogheda, Skerries, Arklow, Wicklow, Youghal, Carlow, and Westport, at a cost, including expenses of transporting carriages and other charges, of nearly £3,000. \ 365 Nautical Intelligence. WI SE RIGGING FOR SHIPS. We were not aware, until we read (in the Liverpool Courier) that three-fourths of all the ships now fitted out of Liverpool are rigged with wire rope. It is de scribed as a fourth less in weight, and not one-half the bulk of that made of hemp, and the cost is also 25 per cent less. It is much less susceptib-e than hemp of atmospheric changes, and it is predicted that in a few years it will supersede hemp for standing rigging. A trial of wire, hemp, and Manilla ropes was recently made at the King’s Dock, Liverpool. The straining tests showed the immense superiority of wire rope over that made even of the best fibrous ma terial. The testing of the hempen ropes proved the strength of Manilla to be far superior to Kussian hemp, taking many of the merchants, ship masters, and riggers present by surprise, as a different opinion had been entertained by many of the gentlemen present. I MP ROVED ANCHORS. Smith’s improved anchors have two shanks, which come together at one end to receive a single stock. The two shanks beyond the stock are inclined to each other, and at their outer ends, or crowns, they are connected by a crown-plate, which has axes, or necks, formed at the two ends thereof. The axes, or necks, on the crown-plate pass through holes in the ends of the shanks, in such manner as to turn freely therein, and they are retained by keys, or split cotters, from coming out of the holes in the ends of the shanks. The arms, with the palms or flukes thereto, are fixed on square parts formed on the necks, or axes, of the crown-plate, and they move between forked ends in the ends of the shanks. The crown-plate, by entering the ground, adds materially to the holding powers of the two flukes, which are, for the time being, holding. LIGHTHOUSES ON THE RIVER AND GULF OF ST. LAWRENCE. F u e em an H unt, Editor o f the Merchants' Magazine and Commercial Review:— D e p a r t m e n t o p P u b l ic W o r k s , T o r o n t o , C. W., January 15, 1858. S ir :— I am directed to transm.t to you copies of a printed document contain ing information respecting several lighthouses lately erected under this depart ment in the Kiver and Gulf ot St. Lawrence, the first lighting of which will take place as in the memoranda. By the aid of these lights the navigation of the St. Lawrence route will be importantly facilitated. Further improvements of a similar nature are contemplated, of the completion of which you shall be duly notified. I have the honor to be, sir, your obedient servant, TIIOMAS A. BEG LEY, Secretary. SCHEDULE OP LIGHTHOUSES. B e l l e I slf. L ig h t at the extreme Southwest point of the island at the eastern entrance of the Strait separating Labrador from New Foundland. Lat. 51° o3', Ion. 55° 26'; a single fixed white light, visible in fair weather 28 nautical miles, being 470 feet above high water. It will be lighted March 15th, 1858. P oint A mour L ight on the Labrador coast, Southeast point of Forteau Bay. Lat. 51° 27' 30", Ion. 56° 53' 40" 155 feet above high water, visible 18i nautical miles; will be lighted April 1st. 1858. A nticosti L ig h t , on the extreme West point of Anticosti Island, lat. 49° 52' 30", Ion. 64° 35', 112 feet above high water, visible 15 nautical miles ; will be lighted on March 15th, 1858. 366 Nautical Intelligence. C ape R c z i e r L ight, at the extreme point of the Cape, on the east coast of Gaspe, lat. 48° 51' Ion. ti4° 15', 136 feet above high water, visible 16£ nautical miles; will be lighted March 15, 1858. On and after September 1st, 1858, signals at short intervals will be given at or near each of the above lights by a fog whistle in fogs and snow storms, or by a nine pounder fired every hour. BARRATARIA AND TIMBALLIER LIGHTHOUSES, LOUISIANA. B A R K A T A R IA L IG IIT H O U S E . A fixed white light of the fourth order catadioptric of the system of Fresnel, has been exhibited from the octagonal tower recently erected inside of Fort Liv ingston, on the Isle Grand Terre, at the east side of the entrance to Barrataria Bay, Louisiana. The tower is built of brick, 55 feet high, and white-washed. The focal plane of the light is 60 feet above the mean level of the sea, and the light should be visible, in ordinary states of the atmosphere, 13 nautical miles from the deck of a vessel 15 feet above the water. Approximate position—Lat. 29° 16' 44" North. Lon. 89° 54' 30" West of Greenwich. T I M B A I .I .I E R L IG H T H O U S E . A fixed white light of the fourth order catadioptric of the system of Fresnel, has been exhibited from the octagonal white tower, recently erected on the west side of the Grand Pass of Timballier. at the entrance to the bay, Louisiana. The tower is built of brick, 55 feet high, and white-washed. The focal plane of the light is 60 feet above the mean level of the sea, and the light should be visible 13 nautical miles, in ordinary states of the atmosphere, from the deck of a vessel 15 feet above the water. Approximate position—Lat. 29° 04' North. Lon. 90° 16' 30" West of Greenwich. By order of the Lighthouse Board, W . II. STEVENS, Inspector o f Ninth L. II. District. G alvesto n , T exa s, December 7, 1857. CAPE ROMAIC AND CHARLESTON, (SOUTH CAROLINA,) LIGHTS. R E V O L V IN G L IG H T AT CAPE R O M A IN , SOUTH C A R O L IN A . In conformity to the notice published in a former number of the Merchants’ Magazine, the fixed light exhibited from the old tower at Cape Roniain was, on the night of the first instant, discontinued, and a revolving light showing a bright flash every minute was exhibited from the tower recently erected at that place. The illuminating apparatus is catadioptric of the first order of the system of Fresnel. The new tower is octagonal in plan, 150 feet in height, and is built of dark redisli-grey brick. The light from this tower should be seen, under ordinary states of the atmosphere, from the deck of a vessel 15 feet above the water, about 23 nautical miles, or 17 nautical miles outside of the dangerous shoals off Cape Romain. This light station will be readily known during daylight, by the ap pearance of the two towers, the old one (65 feet high) being painted with red and white horizontal bands, and the new tower, (150 feet high,) from which the light will be exhibited, being of the natural color of the brick, and lantern painted black. The approximate position of Cape Romain Lighthouse i s L a t i t u d e 33° 01' 04" north, longitude 79° 17' 05" west. CHARLESTON M A IN L IG n T — F I X E D LIGHT. In conformity to the same notice, the revolving light exhibited from the Charleston main light-tower was on the first instant discontinued, and a fixed light exhibited from an elevation of 133 feet above the mean level of the sea. The illuminating apparatus is catadioptric, and of the second order of the system of Fresnel. The tower is built of brick, whitewashed, and is 110 feet high. The light will have a focal plane of 133 feet above the mean level of the sea, and should be seen under ordinary states of the atmosphere, from the deck of a vessel 15 feet above the water, about 20 nautical miles. The beacon light, placed at 361 Nautical Intelligence. an elevation of 50 feet, in front, in range with the main light, gives the line of best water across the bar. Approximate position of the Charleston main light:— Latitude 32° 41' 55" north, longitude 79° 52' 29" west. By order of the Light house Board, „ Office Lighthouse Board, ) Washington, Jan. 9, 185c*. ( THORNTON A. JENKINS, Secretary. T reasu ry D epartm ent. DEER ISLAND THOROUGHFARE LIGHTHOUSE—FIXED WHITE LIGHT. A new lighthouse has been erected on Mark Island, at the western entrance of Deer Island Thoroughfare, (Isle au Ilaut Bay,) Maine. The tower is built of brick, and is painted white; the lantern is black. The dwelling-house is of wood, and is painted brown. A brick workroom, painted white, connects the house and tower. The focal plane of the light is 25 feet above the ground, and 52 feet above ordinary high water. The light is fixed, of the natural color, and the il luminating apparatus is a lens of the fouth order of the system of Fresnel. The light should be visible in ordinary states of the atmosphere twelve nautical miles. The approximate position is as follows :—Latitude, 44° 07' 32" N .; longitude, 68° 43' W. from Greenwich. The following magnetic bearings and distances have been taken from the lighthouse:—Saddleback Lighthouse, S. by W. f W., 10 miles; Eagle Island Lighthouse, N. by W. f W., 8 miles ; Widow’s Island, at eastern end of Fox Island Thoroughfare, W. f N., 6 miles; Indian Narrows, and Gangway Rock Buoy, E. N. E., I f miles. The light will be lighted for the first time at sunset on Monday, March 1, 1858, and will be kept burning from sunset to sunrise during every night thereafter. By order of the Lighthouse Board, W. B. F RAN KL IN , Secretary. T r e a s u r y D e p a r t m e n t , O f f i c e L r G ir r n o r S E B o a r d , ) W ashington, February 1, I808 . f LIGHTHOUSE ON NEW DUNGENESS, STRAITS OF FUCA, WASHINGTON TERRITORY, A light will be exhibited on and after the 14th December next in the light house recently erected about one-sixth of a mile from the outer end of this Spit. The light is a fixed white light of the third order of Fresnel, and elevated 100 feet above mean sea level, and should be seen in clear weather, from the deck of any sea-going vessel, 15 nautical or 171 statute miles. The structure consists of a keeper’s dwelling of stone, with a tower of brick— the upper half colored dark lead, the lower half white—rising above it, and surmounted by an iron lantern painted red; the entire height being 92 feet. The approximate latitude and longitude and magnetic variation of the light, as given by the Coast Survey, are —latitude, 48° 11' 45" N . ; longitude, 123° 07' 30" W .; magnetic variation, 21° 30' E., August, 1852. A F og B ell, of 1,100 pounds, has also been placed on the extreme outer end of the Spit, which will be sounded every ten seconds during foggy or other thick weather, night and day, from the same date. The striking machinery is in a frame building with the front open to receive the bell, painted black, raised 30 feet above the ground on an open structure, white-washed. By order of the Lighthouse Bord, H ARTM AN BACHE, Maj. Topog’l Eng's, Br. Maj. B a n F r a n c i s c o , C a l ., November 2 0 ,1 8 5 7 . LIGHTHOUSE ON TAT00SH ISLAND, OFF CAPE FLATTERY, WASHINGTON TER. A light will be exhibited on and after the 28th of December next, in the lighthouse recently erected on the highest part of this island. The light is a fixed white light of the 1st order of Fresnel, and elevated 162 feet above mean sea level, and should be seen in clear weather, from the deck of any sea-going vessel, 19 nautical or 22 statute miles. The structure consists of a keeper’s dwelling of stone, with a tower of brick, white-washed, rising above it, and sur 368 Nautical Intelligence. mounted by an iron lantern painted red ; the entire height being 66 feet. The latitude and longitude and magnetic variation of the light, as give by the Coast Survey, are— latitude, 48° 23' 15" N .; longitude, 124° 43' 50'' W. ; magnetic variation, 20° 45' E., July, 1851. By order of the Lighthouse Board, HARTMAN BACIIE, Maj. Topog’l Eng's, Br. Moj. 8 a n F r a n c i s c o , C a l ., N o v e m b e r 2 0 , 1857. LIGHTHOUSE AT VALPARAISO, (CHILI,) SOUTH AMERICA. F IX E D L IG H T V A R IE D BY E L A S IIE S ON PLAYA ANCHA. Official information has been received at this office through the Department of State, that the Department of Marine of the Republic of Chili has given notice, under date of October 27th, 1857, that a fixed white light, varied by flashes every minute, was exhibited on the evening of the 18th September, 1857, from the lighthouse tower erected on the point called Playa Anclia, at the entrance to the port of Valparaiso, and about 40 feet to the southward of the old lighthouse on that point. The illuminating apparatus is catadioptric of the fourth order of Fresnel. The tower is 50 feet high, round, built of brick, and painted white. The top of the lantern and ventilator are painted green. The light is exhibited from an elevation of about 200 feet above ihe sea. and should be seen in ordinary states of the atmosphere, at a distance of about 16 miles from the deck of a ves sel 15 feet above the water:— Latitude 33° 01'07" south, longitude 71° 41' 39" west of Greenwich. By order of the lighthouse board, THORNTON A. JENKINS, Secretary. T reasu ry D epartm ent, Office Lichthousc Board, | Washington, Jan. 8, 1858. J FLASHING LIGHT ON H0GSTEN, BRED SOUND. Official information has been received at this office, that the Royal Norwegian Marine Department, at Christiana, has given notice, that on and after the 25th day of November, 1857, a light would be established on Hogsten Point, Godo Island. Bred Sound. The light is fixed with a flash once every three minutes, and visible from all points of the compass towards the fairway. It is placed at an elevation of 39 feet above the mean level of the sea, and should be seen in clear weather, at a distance of 13 miles. It will be exhibited from the 1st of August, through the winter, until ths 16th of Alay. The lighthouse is a circular tower, built of stone, and colored white. It stands in latitude 62° 28' 00" north, longitude 6° 1' 30" east of Greenwich. By order of the Lighthouse Board, THORNTON A. JENKINS, Secretary. T reasu ry D epartm en t, Office Lighthouse Board, ) Washington, Jan. 4, 1858. J REVOLVING LIGHT ON C0NEJERA ISLAND, MEDITERRANEAN, IVIZA. Official information has been received at this office that the Minister of Marine at Madrid has given notice, that on and after the 19th of November, 1857, a light would be exhibited from a lighthouse recently erected on Cape Blanco, the northeast extremity of Conejera Island, on the west coast of Iviza, an island of the Baleares group. The light is a white revolving light, eclipsed once a minute, but the eclipses are not total within a distance of three or four miles. It is vis ible from S. S. W . £ W . round westerly to N. E. by E. £ E .; and, being at an elevation of 292 English feet, should be seen from the deck of a vessel in clear weather at a distance of about 20 miles. The illuminating apparatus is eatadioptrie, of the second order. The light-tower is circular, crowned by a small tur ret supporting the lantern, and of a yellowish color; it stands at nine yards from the edge of the cliff, in latitude 38° 59' 47" N .; longitude 1° 16'32" east of Greenwich. By order of the Lighthouse Board, W a s h in g t o n , February 1, 1858. THORNTON A. JENKINS, Secretary. Nautical Intelligence. 369 ALTERATION OF LIGHT AT SERAGLIO POINT, SEA OF MARMORA, CONSTANTINOPLE. Official information lias been received at this office that the Director of Lights for the Turkish government has given notice that after the 25th of December, 1857, a light, described as follows, would be substituted for the fixed light hith erto shown at Seraglio Point, at the entrance of the Bosphorus, or Channel of Constantinople. The new light is a fixed light, varied once a minute by green flashes, preceded and followed by a short eclipse, and visible at the distance of 15 miles from N. f- E., round easterly to W. S. W. The illuminating apparatus is catadioptric of the fourth order. The light-tower is 147 English feet in height, and stands at 547 yards to the eastward of the old one. F IX E D R E D L IG H T S A T L E A N D E R T O W E R , B O S P H O R U S , CO A ST OF A S IA . Also, that after the same date two harbor lights would be exhibited from Leander Tower, on the western or outer edge of Leander Bank, Skutari. The lights are fixed red lights, and placed at an elevation of 36 feet above the water ; they should be visible in clear weather at a distance of four miles. All bearings are magnetic. Yariation, 7° west in 1857. By order of the Lighthouse Board, THORNTON A . JENKINS, Secretary. W a s h in g t o n , January 26, 1858. LIGHTS ON SYLT ISLAND, NORTH SEA, COAST OF SLESVVIG. Official information has been received at this office that the Danish Royal Navy Department has given notice, that on and after the 1st of January, 1858, two lights would be exhibited from lighthouses erected on the north end of the Island of Svlt, olf the coast of Sleswig, when the temporary beacon lights hitherto shown would be discontinued, and in the course of the summer the beacons will be removed. The lights are distinguished from each other by the outer or west ernmost being of a redish color, and placed at an elevation of 63 English feet above the level of the sea at high water. The inner light is 72 feet above the same level, and both are visible all round the horizon in clear weather, at the re spective distances of 10 and 13 miles; but in approaching from the southward, along the western shore of Sylt Island, the inner light will occasionally be inter cepted by the cliffs until the lights are nearly in line. The illuminating appar atus is a Fresnel lens of the fourth order. The lighthouses are of iron, painted white, with red tops; the westernmost is 28 feet, and the easternmost 38 feet, in height; they are 2,910 yards apart, in an E. S. E., S., and W . N. W. a N. di rection, aud when in line lead over the bar in a depth of sixteen English feet at low water, in accordance with the instructions for Lister Deep, given in the Eng lish translation of Zahrtmaun’s Danish Pilot, published by the Admiralty, pages 438-441. All bearings are magnetic. Variation, 17|° west in 1857. By order of the Lighthouse Board, THORNTON A. JENKINS, Secretary. ■Wa s h i n g t o n , February 1, 1858. LIGHTHOUSE OFF THE SCILLY ISLAxYDS. Official information has been received at this office, that the Trinity House, London, has given notice that the lighthouse which has been for some time past in course of erection upon the Bishop Rock—the southwesternmost of the Scilly Group, hearing W. f N. by compass, 4 miles distant from St. Agnes—being now far advanced towards completion, notice is given that the light will be exhibited therefrom on or about the first of September next, (1858.) “ Mariners are to ob serve that the Bishop Rock Light will be a fixed bright dioptric light of the first order, and will burn at an elevation of 110 feet above the level of high water, anil illuminate the entire circle, and will be visible in clear weather at a distance of about fourteen miles.” By order of the Lighthouse Board, Office Lighthouse Board, ) Washington, Jan. 13, 1858. ) x x x r n i.— no. h i. 24 T reasu ry D epartm ent, v jl. THORNTON A. JE N K IN 8 , Seoretary 370 Statistics o f Agriculture, etc FIXED LIGHT WITH FLASHES ON CAY PIEDRAS, WEST INDIES, CUBA. Official information has been received at this office that the Minister of Marine at Madrid has given notice that, since the 1st of September, 1857, a permanent light has been established in a lighthouse (erected in the position formerly occu pied by the lighthouse which was blown down on the 28th of August, 1856,) on Cay Piedras, at the entrance of Cardenas Bay, on the north side of the Island of Cuba. The light is a fixed white light, varied by a red flash every half minute ; it is placed at an elevation of 68 English feet above the level of the sea, and should be visible in clear weather at a distance of fifteen miles. The illuminating apparatus is a Fresnel lens of the fourth order. The lighthouse stands in lati tude 23° 14V N .; longitude 81° 9' west of Greenwich, nearly. Its form, height, and color are not stated. By order of the Lighthouse Board, THORNTON A. JENKINS, Secretary. W a s h in g t o x , February 1 ,1 8 5 8 . LIGHT-VESSEL ON THE ENGLISH BANK SHOAL, IN THE RIO DE LA PLATA, S. A. Official information has been received at this office from the United States consul at Montevideo, through the Department of State, that a light-vessel has been placed on the English Bank Shoal, in the Bio de la Plata. A steady fixed light of the natural color is exhibited from this vessel, which is anchored in seven fathoms water. The following is the position of the light-vessel:—Latitude, 35° 06' 10" S .; longitude, 35° 55' 10" W . of Greenwich. Compass bearings from the light-vessel—Montevideo, X . 63° W . ; Flores Island, K . 20° W .; Sugar Loaf, N. 50° E. This light should be seen, iu ordinary states of the atmosphere, from ten to twelve miles. The light on the Island of Flores, which is revolving, cannot be mistaken for the fixed light on the English Bank Shoal. By order of the Lighthouse Board, THORNTON A. JENKINS, Secretary. W a s h i n g t o n , January 26, 1858. STATISTICS OF AGRICULTURE, &c. AGRICULTURAL STATISTICS OF THE STATE OF NEW YORK. We have already published in the Merchants' Magazine the greater portion of the general returns of the census of the State of Xew York for 1855. A list of the principal articles on this subject was given in our number of Xovember, 1857, (volume xxxvii., page 639.) The introduction to the official publication of the census, (prepared by Dr. F. B. Hough, Superintendent,) is a summary of all of the industrial and other interests of the State. From the statements which it contains, we have compiled the following exhibit of the agricultural condition of the State:— The earliest attempt to collect the agricultural statistics of Xew York was made in 1821. The number of acres of improved land, and the number of neat cattle, horses, and sheep, were then returned—together with a few branches of manufactures. In 1825 and 1835, the same inquiries, with the addition of swine to the list of domestic animals, were required. In 1840, the number of horses, mules, cattle, sheep, and swine, and the value of poultry, were ascertained, together with the statistics of the production of the cereal grains and root crops. In 1845, there was added to the inquiries of 1840, that relating to the amount of land devoted to each separate crop. Statistics o f Agriculture, etc. 371 The censuses of 1850 and 1855, adopted similar inquiries ; in addition to which. the latter provided for the return of unenumerated articles of farm produce, and the amount, kind, and value of special manures employed. The area of the State, according to Burr’s Atlas, is 28,297,142 acres. In 1855, 28,059,994 acres were assessed; and in the same year, the aggregate assessed value of real estate was $1,107,272,'715. The number of acres of agri cultural land improved, was reported in 1821 as 5,717,494 ; in 1825, 7,160,967 ; in 1835, 9,655,426 ; in 1845, 11,757,276 ; in 1850. 12,408,964: and in 1855, 13,657,4901; which statements show a steady progress, and appear to be entirely correct. In regard to unimproved land, we see that the State census of 1855 has returned the number of acres at 13,100,692^-, while the national census of 1850, returned the number at 6,710,120, indicating a wide difference in their respective schedules or in the mode pursued by the assistant marshals. The total number of acres, therefore, reported in 1855, under the agricultual statistics, was 26,758,183^, or about nineteen-twentieths of all the land in the State. In the year 1854, the number of acres plowed was 3,377,471 ; of acres in fallow, 506,030^; of acres in pasture, 4,984,1141 ; and of acres in meadow, 3,384,440i.' In the following short table, we have a comparison of certain principal items, in 1850 and 1855, and in each year reference is made to the 1st of June :— 1850. 170,621 $554,546,842 73,570,496 22,084,926 Farms, total number........................... Cash value of farms............................ Cash value of stock............................. Cash value o f tools and implements. 1855. 231,740 $799,355,367 103,776,058 26,927,502 From the data furnished by the census, we have carefully prepared (having entirely rearranged the order of the statements) the following table, which ex hibits the returns in regard to the principal cereal and root crops of the State :— Acres sown or planted.—* Crops. 18-15. 1,013,665 Wheat. O ats.. . 1,026,915 317,099 R y e ... . Barley. 192,503 255,495 B’kwh’t. Corn . . . 595,134 255,762 Potatoes P ea s. . . 117,379 Beans. . 16,231 Turnips. 15,322 1855. 795,4S7f 1,349,3841281,714-J 212,6081 293,233£ 917,601 220,575| 48,15 4 f 16,917| 7,5841 1840. 12,286,418 20,675,847 2,979,328 2,520,068 2,287,885 10,972,286 30,123,614 --------Bushels 1larvested.------- 1845. 1850. 13,391,770 26,323,051 2,966,322 3,108,704 3,634,679 14,722,114 23,653,418 1,761,508 162,187 1,350,332 13,121,498 26,552,814 4,148,182 8,585.059 3,183,955 17,858,400 15,398,368 j- 1855. 9,092,4021 27,015,296 3,039,438 3,563,540 2,481,079119,290,6911 15,191,8521 i 705,967f 741,546 1 244,079 985,5221 The statements of wheat, in the above table, are the sums of both kinds, spring wheat and winter wheat. The amounts of each were returned separately, (for the first time,) in 1855, and thus—Spring wheat, acres sown........ Winter wheat, “ ......... 194,3461 601,1411 Bushels harvested........ “ “ ------ 2,033,353 7,059,049J The returns of crops given in 1850, were those produced during the year end ing June 1st, 1850, or in fact, the year 1849. The returns for 1855, were the products of the year preceding June 1st, 1855—or, in fact, the year 1854, which was characterized by an unusual drought; and thus the amounts reported, fell short of the average of common years, and present an incorrect view of the agri cultural capabilities of the soil. 372 , ,Satisticts o f Agriculture etc. In regard to other crops, we compile these returns:— H a y .— Tons, 1840, 3,127,047 ; 1850, 3,728,797 ; 1855, 3,256,948}. G r a s s - s e e d .'—Bushels, 1850, 96,493; 1855, 120,866*. C l o y e r - s e e d .— Bushels, 1850, 88,222 ; 1855, 16,662, of value of $77,788. F l a x a n d H e m p .— In 1840, the products of both articles was reported at 1,1301 tons. F l a x .— Acres sown, 1845, 46,089 ; 1855, 11,764 ; pounds of lint, 1845, 2,896.000 ; 1850, 940,577 ; 1855, 4,907,556}; bushels of seed, 1850, 57,963 ; 1855, 87,093}. H e m p .— Acres sown, 1855, 3f ; tons of hemp, 1850, 4 ; (dew rotted, 1 ; water rotted, 3;) 1855, *. H o p s .— Acres planted, 1855, 9,481* ; pounds harvested, 1840,447,250 ; 1850, 2,536,299 ; 1855, 7,192,254. T o b a c c o .— Acres planted, 1855, 786} ; pounds harvested, 1840, 744 ; 1850, 83,189 ; 1855, 946,502}. A p p l e O r c h a r d s .— Bushels of apples, 1855, 13,668,830*; barrels of cider, 1855, 273,639. O r c h a r d s .— Value of products, 1840, $1,701,935 ; 1850, $1,761,950. N u r s e r i e s .— Number of men employed, 1840, 525 ; value of products, 1840, $75,980. M a r k e t G a r d e n s .— Acres cultivated, 1855, 12,590} ; value of products, 1840, $499,126 ; 1850, $912,047 ; 1855, $1,138,682. M a p l e S u g a r .— Pounds made, 1840, 10,048,109 ; 1850, 10,357,484 ; 1855, 4,935,815* ; maple molasses, gallons made, 1850, 56,539 ; 1855, 85,091}. W i n e .— Gallons made, 1840, 6,799 ; 1850, 9,172 ; 1855, 18,181*. H o n e y .— Pounds collected, 1840, 52,795 ; 1855, 2,557,876. W a x .— Pounds collected, 1840, 1,735* ; 1855, 138,033}. H o n e y a n d W a x .— In 1850, pounds collected, 1,755,830. S i l k .— Pounds of cocoons raised, 1850, 1,774; 1855, 267}; pounds of raw silk manufactured from cocoons, 1845, 1,439. M i s c e l l a n e o u s p r o d u c t s .— Total value, 1855, $1,421,750. s t a t is t i c s o p c a t t l e , e t c . We have aggregated the statistics of cattle, as ascertained by each census, as follows:— Census. Neat cattle. Horses. Swine. Sheep. 1821............................ 1825............................ 1835............................ 1840............................ 1845............................ I860............................ 1855............................ 1,215,049 1,513,421 1,886,771 1,911,244 2,072,330 1,877,639 2,105,465' 262,623 349,628 524,895 *474,543 605,155 447,014 579,715 ............... 1,467,573 1,554,358 1,900,065 1,584,344 1,018,252 1,069,792 2,147,351 3,496,539 4,261,765 5,118,777 6,443,855 3,453,241 3,217,024 The neat cattle in 1845 and 1855 were thus classified as to age :— Under one year old, in 1845.. Over one year old, in 1 8 4 5 .... 334,456 1,709,479 In 1855 ................................. In 1855 .................................. 311,474 1,793,991 Working oxen—in 1850, 178,909 ; in 1855, 144,597. Milch cows—in 1845, 999,490; in 1850, 931,324; total cows in 1855, 1,068,427. Number of cattle killed for beef in 1855,225,338. Value of animals slaughtered, 1850, $13,573,884. * Including the number of mules. S73 Statistics o f Agriculture, etc. Number of mules in 1850, 963 ; in 1855, 2,254. The number of swine in 1855 was classified as to age thus— under six months, 530,176; over six months, 539,616. The number of sheep in 1845 (1.443,855) were thus classified—under one year old, 1,870,728; over one year old, 4,505,369 ; and age not stated, 67,758. Pounds of wool shorn, 1840, 9,845,295; 1845, 13,864,828; 1850, 10,071,301; 1855, 9,231,959*. Number of fleeces, 1845, 4,607,012 ; 1855 , 2,630,203. In 1855, the number of sheep was reported, in many cases, different from the number of fleeces and quantity of wool shorn. This apparent incon sistency arises from the former referring to 1855, and the latter to 1854. The value of poultry was reported in 1840 at 81,153,413. In 1855, the re turns were—value of poultry sold in year preceding June 1,1855, $1,071,598 ; value of eggs sold. $1,360,673. The total value of dairy products was reported in 1840 at $10,496,021; and the returns of subsequent censuses have been as follows :— 1845. Butter, number of pounds.................... 1850. Cheese, number of pounds................... 79,501,733 36,744,976 79,766,094 49,741,413 Milk, gallons sold to market............. ............... ............... 1855. 90,293,073* 38,944,249| 20,957,861 COTTOiV AND THE COTTON TRADE. During the last forty years while the growth of cotton in the United States, and its manufacture in England, have greatly increased, the proportion drawn by England from the United States has also steadily increased, as will appear from the following statement AVERAGE Y E A R L Y IM P O R T S OF C O TTO N IN T O j Countries. G R E A T B R I T A I N — P O U N D S. ,— Yearly average of three years.— * 1824—3—6. 18 5 1 -4 -5 . United States.............................................. pounds Brazil................................. West Indies.............................................................. The Mediterranean.................................................. East Indies............................................................... A ll other countries.......................... 121,318,000 22,900,000 6,408,000 12,229,000 17,184,000 10,000,000 687,410.000 22,824,000 409,000 28.253,000 158,954,000 3,602,000 Total................................................................. 189,595,000 891,454,000 A paper on the cotton trade, read in 1857 before the British Association of the Advancement of Science, by Mr. Denison, contained a careful analysis of the cotton trade of the world, in which the writer presented the following as the resuits of his calculations :— 1. ’ That in the present state of the commercial relations of the two countries, the cotton planters of the United States are interested to the extent of about two-thirds of their exportable produce in the maintenance of the cotton manu facture of the United Kingdom ; and 2. That, reciprocally, the cotton manufacturers of the United Kingdom, and through them the entire population of the kingdom, are interested to the extent of about four-fifths of the raw material of that manufacture in the existing arrangements for maintaining the cotton culture of the United States. These conclusions are based upon the following :— 1. That cotton must be grown almost entirely out of Europe, and manufactured chiefly in Europe, and in Europe chiefly in Great Britain. 2. That cotton has hitherto been grown, and, as far as yet appears, must con tinue to be, chiefly by slave labor. •374 , Statistics o f Agriculture etc. 3. That for the last fifty years Great Britain, seeking her supply of cotton all oyer the earth, with a preference during a great part of that period for the pro duce of free labor, has yet received during the whole of that period, and continues to receive, all the cotton she imports of the better qualities, and by far the greater part of all she imports, in bulk as well as in value, from countries in which it is grown by slave labor. 4. That cotton is grown in the United States exclusively by slave labor. 5. That two-thirds of the slave population of the United States is employed in raising cotton for exportation. 6. That of the cotton raised for exportation about two-thirds in quantity, and more than two-thirds in value, is raised expressly for the British market, and is regularly imported into and manufactured in the United Kingdom. 7. That of the entire quantity of cotton imported into and manufactured in the United Kingdom, nearly four-fifths in quantity and much more than fourfifths in value is, on an average of years, obtained from the United States. HISTORY OF THE ISABELLA GRAPE. A brief history of the Catawba grape was published in the Merchants’ Mag azine, of February, 1855, (vol. xxxii., page 247.) We now record a similar notice of the origin of the “ Isabella” grape, which was communicated to the National Intelligencer in September, 1857, by Gen. J. G. S w i f t , of Geneva, New York, whose letter was written to correct an account which had previously appeared. Having remarked that “ the history of the Scuppernong is given in Lawson’s History of North Carolina,” Gen. Swift made the following statement:— “ The Isabella originated at Goose Creek, near Charleston, South Carolina, and is a hybrid of the native fox and the Burgundy of the Huguenots. Gov. Benjamin Smith, of North Carolina, brought the grape-vine to Smithville in 1809, and Mrs: Isabella Gibbs, took a cutting from Gov. Smith’s garden to Brooklyn Heights, Brooklyn, New York, in 1817. In 1819 I purchased the Gibbs place, on Brooklyn Heights, of George Gibbs, Esq., who came from Bladen County, North Carolina. In 1820, from the first well-grown vine in my garden I gave cuttings to William Prince, of Flushing, who, in compliment to Mrs. Swift, proposed to name the grape “ Louisa.” Mrs. Swift objected, saying Mrs. Gibbs’s “ Isabella” was the more entitled to the name ; and thus the name. Mr. Seaton may remember that in 1822 I gave him and Mr. Calhoun. Secretary of War, plants of the Isabella. As to the hybrid character of the plant, the two faces of the leaves show the upper to be Burgundy and the lower fox. In 1821 I gave Mr. Skinner, of the Baltimore Farmer, a history of the Isabella ; he pub lished it. The Catawba is a more delicate plant than the Isabella, and a more shy bearer. It may be judicious to cultivate the Isabella by grafting until its' pulp, now “ leathery,” may become soluble and thus yield a drier wine than it now makes.” To this the venerable editor of the Intelligencer added :— •‘ We well remember the incident of 1822, referred to by our friend Gen. Swift. Mr. Calhoun, who was our near neighbor during the eight years of his Secretaryship, planted his vine cutting in a large bed of compost in his garden, which gave it a vigor of growth that in the course of two years covered an in credible space of ground ; and from the plant, we believe, all the countless vines of the Isabella grape in the city of Washington originally sprung.” W e will further remark that in 1846 A u d e n S p o o n e r , Ksp, editor of the Brooklyn Star, wrote and published a duodecimo volume of 96 pages on the “ Cultivation of American Grape Vines and the Making of Wine,” and his state ment of its introduction into the Northern States, is in substance the same as the above; and in our conversation with him at different times, he communicated to us the same facts.-—E d . M e r c h a n t s ’ M a g a z i n e . Statistics o f Agriculture, etc. 375 MODE OF MAKING SUGAR FROM THE CHINESE CANE. A convention was recently held at Springfield, Illinois, by agriculturists, in terested in the cultivation of the Chinese sugar cane ; at which an examination was made of various specimens of sugar manufactured from the cane ; and it was considered that the most perfect specimens were those forwarded by Mr. Joseph S. Lovering, of Philadelphia. Since that time Mr. Lovering has issued a pamphlet describing his mode of manufacture. The following are the writer’s conclusions :— 1. That it is obvious that there is a culminating point in the development of the sugar in the cane, which is the best time for sugar making. This point or season I consider to be, when most if not all the seeds are ripe, and after several frosts, say when the temperature falls to 25 deg. or 30 deg. F. 2. That frost, or even hard freezing, does not injure the juice or the sugar, but that warm Indian summer weather, after the frost and hard freezing, does injure them very materially, and reduces both quantity and quality. 3. That if the cane is cut and housed, or shocked in the field when in its most favorable condition, it will probably keep unchanged for a long time. 4. That when the juice is obtained, the process should proceed continuously and without delay. 5. .That the clarification should be as perfect as possible, by the time the density reaches 15 deg. Beaume, the syrup having the appearance of good braudy. 6. That although eggs were used in these small experiments, on account of their convenience, bullock’s blood, if to be had, is equally good, and the milk of lime alone will answer the purpose; in the latter case, however, more constant and prolonged skimming will be required to produce a perfect clarification, which is highly important. 7. That the concentration, or boiling down, after clarification, should be as rapid as possible without scorching—shallow evaporators being the best. With these conditions secured, it is about as easy to make good sugar from the Chinese cane as to make a pot of good mush, and much easier than to make a kettle of good apple butter. SALES OF PUBLIC LANDS IN AUSTRALIAN COLONIES. Official returns show the following results of the sales of public lands in the Australian colonies during the last ten years :— New South Wales, $5,023,510 ; Victoria, $23,969,305 ; South Australia, $7,050,705 ; Western Australia, $105,305 ; Tasmania, $1,064,415 ; total, $37,213,255. The new colony of V ic toria seems, from the preceding statement, to advance more rapidly than any of the others. This is mainly owing to its auriferous deposits, though from other causes there is every likelihood that Victoria will always remain, as at present, the great central point of the colossal power— whatever may be its form of gov ernment, which is already rapidly growing up in that quarter of the globe. A t present the democratic principle is in the ascendant, and the leaders who give tone and direction to public sentiment, are men who have signalized their devo tion to liberal principles and popular government by acts that have already passed into history. SIZE OF FARMS IN THE UNITED STATES. In the wheat region south of Lake Ontario— says Robert Russel, author of a work entitled North America; its Agriculture and Climate—the farms are usually from 150 to 300 acres in extent, though many are much larger. The 376 Journal o f Mining, Manufactures, and A rt. farm houses are roomy and comfortable, impressing one favorably with the con dition of the occupants. The female members of the family have ample employ ment in the cleaning and cooking departments, and the table at the different meals is loaded with a profusion of dishes. House servants are dispensed with as far as possible. Butcher-meat appears at breakfast, dinner, and supper. The Americans no doubt eat a vast deal too much of such stimulating food. Indeed, I do not think that any class in England consumes so much butcher-meat as all classes do here. It is a remarkable circumstance that farms have a tendency to decrease in size more rapidly where the land is poor than where it is rich.” RECEIPTS OF CATTLE AT PHILADELPHIA I1V 1856 AND 1857. The subjoined statement presents the number of cattle received in Philadelphia during 1856 and 1857, with the exception of the large number brought in bybutchers, of which no account can bo obtained. In the Merchants’ Magazine of March, 1856, (vol. xxxiv., page 380,) we gave the similar statement for each year from 1845 to 1855, inclusive ; and in August. 1855, (vol. xxxiii., page 239,) the same to 1854, as also in previous volumes to their respective dates Vears. Beeves. 1856 ................................. 1857 ................................. 61,978 62,400 Cows. 12,900 14,700 Swine. Sheep. 103,350 95,700 240,700 342,000 Total. 418,928 614,800 JOURNAL OF MINING, MANUFACTURES, AND ART. JOINT STOCK COMPANIES IN MASSACHPSETTS. We now publish, from an official document, the “ Abstract of Returns of Joint Stock Companies, (for manufacturing and mining purposes) in Massachusetts, under the acts of 1851, chapter 133 ; 1855, chapters 68 and 478 ; and of 1857, chapters 24 and 276, to January 1st, 1858 ; prepared from official returns by F r a n c is D k W i t t , (late) Secretary of the Commonwealth.” In the Merchants' Magazine of October, 1854, (volume xxxi., pages 513-514,) we gave statements to 1854, showing the number of returns of companies filed in Secretary’s Office, in each of the years 1851, 1852, and 1853, with the increase of capital filed in 1853, and the total statistics of each year from 1851 to 1853, inclusive. In our number of May, 1856, (volume xxxiv., pages 629-630,) we gave an abstract of the returns to January, 1856 Par Amount shar’s value o f of capital No. of Capital stock. Name of company. A. Field & Co., Taunton........................................ American Book & Paper Folding Co., Boston... American Grist Mill Co., Boston....................... American Hoop Machine Co., Fitchburg............ Am. Joint Stock Pegging Machine Co., Boston.. American Leather Splitting Co., Boston............. American Machine Stamp Co, Boston.............. . American Rattan Co., Fitchburg........................ American Soda Fountain Co., Haverhill........... American Stereotype Co„ Boston..................... American Tube Works, Boston......................... American Whip Co., Westfield......................... . $100,000 50,000 35,000 9,600 5,000 60,000 25,000 31,200 30,000 33,500 100,000 175,000 a Question not answered. taken 200 6,346 350 96 44 500 a 26 200 309 100 1,760 shares. 1600 5 100 100 100 100 100 1.200 100 100 1,000 100 paid in. $1UO,UOO 36,000 21,650 9,600 5,000 50,000 7,500 31,200 20,000 30.900 100,000 178,000 Journal o f Mining Manufactures and A rt. 377 Amount No. of shar’s value of of capital paid in. Capital stock. taken. shares. Name of company. $75,000 150 $500 $75,001) Bay State Glass Co., Cambridge......................... 68,760 26 4,000 100,000 Bay State Tool Manufacturing Co., Northampt’n 12,000 100 120 12,000 Bemis Call Hardware & Tool Co., Springfield. 10,000 100 100 10,000 Berlin Iron Co., Boston.......................................... 150,000 100 1,500 150,000 Blair County Iron & Coal Co., Boston................. 6,500 100 70 7,000 Bolton Shoe Company, Bolton............................. 30,000 100 300 30,000 Boston Acid Manufacturing Co., B oston ............. 35,000 100 350 35,000 Boston Carpet Co., Roxbury................................. 15,000 500 30 15,000 Boston Earthen-ware Manufacturing Co., Boston. 50,000 100 500 50,000 Boston Flax Mills, Braintree.................................. 100,000 500 200 100,000 Boston Linseed Oil Mills, Boston.......................... 30,000 100 300 30,000 Boston & Maine Foundry Co., Boston.................. 200,000 100 2,000 200,000 Boston Oil Co., Boston............................................ 61,500 100 515 60,000 Boston Papier Mache Co., Boston, b..................... 34,946 100 231 50.H00 Boston and Salem Ice Co., Lynnfield................. 100,000 100 1,000 100,000 Boston Shoe Binding Manufacturing Co., Boston. 25,500 100 255 50,000 Boston Sugar Refining Co., Boston....................... 50,000 50 1,000 50,000 Bowman Oil Co., Roxbury.................................... 6,000 100 105 12,000 Brimfield Stockinett Co., Brimfield..................... 26,000 6 50,000 10,000 Bristol Coal Co., R. Island elsewhere............... 40,000 100 400 40,000 Brown Allen’s Piano-forte Co., Boston. . . . . . . . 60,000 100 2,000 200,000 Cheshire Glass Co., Cheshire................................ 8,000 100 80 8,000 Chicopee Boot and Shoe Co., Chicopee................. 64,000 100 640 64,000 Eagle Machine Co., Boston.................................... 133,000 25 5,320 133,000 East Boston Gas Light Co., E. Boston................ 5,000 100 50 5.000 Edgeworth Rubber Co., M alden......................... 35,000 100 350 35,000 Fitchburg Foundry & Machine Co, Fitchburg.. . 12,000 100 120 12,000 Follet Straw Manufacturing Co., Wrentham.. . . 60,000 120 500 60,000 Foundry and Machine Co., Taunton..................... 7,500 100 80 Foxborough Steam Mill Co., Foxborough............ 8,000 25,000 60 500 Franklin Hand Stamp Co., Boston....................... 25,000 5,000 100 50 5,000 Great Barrington Gas Light Co., G. Barrington. 47,600 100 203 Greenfield 'fool Co., Greenfield............................ 47,600 45,000 100 450 45,000 Greenleaf & Taylor M’f ’g Co., Huntington... . . . 29,000 100 290 Hadley Manufacturing Co., Hadley..................... 30,000 50,000 100 1,000 100,000 Hey wood Chair Manufacturing Co., Gardner.. . 50,000 100 500 Hoiliston Comb Co., Holliston............................. 60,000 2,500 100 100 10,000 Hubbardston Chair Works, Hubbardston.. , . . . 100 J. Russell Manufacturing Co., c ........................... 175,000 320,000 50 750,000 15,000 Lawrence Machine Shop, Lawrence.................... 20,000 100 200 Livermoore Manufacturing Co., c ......................... 20,000 20,000 100 200 Lowell Wire Fence Co., Low ell........................... 20,000 25,000 100 250 25,000 Lyman Lumber Manufacturing Co., S’th Hadley. 100 Nothing. 424 Lynn Gas Light Co., Lynn..................................... 45,000 35,000 100 350 Mansfield Machine Co., Mansfield...................... .. 50,000 10,000 100 150 Massachusetts Shovel Co., Worcester................. 15,000 45,000 100 450 Massachusetts Steam Heating Co., c ................... 45,000 50,000 100 Mat tapan Iron Works, Boston............................. 500 60,000 6,000 100 60 Medfield Boot and Shoe M’f ’g. Co., M edfield.. . 6,000 13,000 100 Merrimac Hat Co., Salisbury .............................. 130 13,000 200,000 100 2,000 Merrimac Lumber Co., Low ell............................. 200,000 90,000 500 Merrimac Woolen Co , Dracut............................. 180 90,000 1,000 50 5,000 100 Middleborough Gas Light Co., Middleborough.. 11,700 100 Middleborough Steam Mill Co., Middleborough. 11,700 117 25,000 600 Mirror Marble Co., Boston..................................... 25,000 50 25,000 100 250 Monatiquot Mills, Braintree................................... 25,000 100 Montague Boot and Shoe Co., Montague............. 10,000 30,000 300 100 New Bedford Flour Mill Co., New Bedford........ 30,000 6,000 100 New England Jewelry Co,, G rafton................... 60 6,000 ... ... Name altered from Bowler, Tiloston & Co.’s Papier Mache Manufacturing Company. Companies, marked thus, (c.) the location is not stated in the certificate filed in the oftice. 378 , Journal o f Alining Aianufactures, and Art, No. of shar's taken. 500 d 80 500 1,000 1,000 421 140 600 480 250 80 400 500 212 150 200 134 120 200 70 350 50 192 300 3,000 50 200 40 40 2,000 221 50 240 200 75 1,000 103 240 132 300 120 400 65 200 50 6,000 290 Name of company. Capital stock. New England Machinists’ Co., South Boston . . . $6,000 New England Oil Manufacturing Co., Boston... 200,000 New England Papier Mache Co., Chelsea.......... 25,000 New England Steam Drill Co, Boston............... 50,000 New England Tanning Co., Boston...................... 100,000 North American Patent Boot & Shoe Co., Boston. 300,000 North Attleboro’ Gas Light Co., N’th Attleboro’.. 50,000 Norton Straw Co., Norton...................................... 14,000 Oakville Manufacturing Co., c ............................. 50,000 Persian Sherbet Co., Boston.................................. 32,000 Phoenix Cotton Manufacturing Co., Shirley........ 25,000 Phoenix Manufacturing Corporation, Taunton... 30,000 Pittsfield Woolen Co., Pittsfield........................... 40,000 Pratt’s Pat.-leath. Split’g Mac’e M’f ’g Co., Salem 50,000 Prussian Chemical Co., Roxbury.......................... 25,000 Royalston Steam Mill Co., Royalston.................. 15,000 S. P. Ruggles Power Press M’f ’g Co., Boston... 200,000 S. Sutton Boot and Shoe Manuf’g Co., Sutton.. 5,000 Salem and South Danvers Oil Co., Salem.......... 12,000 Singletary Boot and Shoe Manuf’g Co., Sutton. 5,000 Somerville Iron Co., Somervdle........................... 12,000 Somerset Iron Works, Somerset.......................... 35,000 South Deerfield Machine Co., South D eerfield.. 5,000 South River Cutlery Co., Conway....................... 19,200 Springfield Tool Co., Springfield......................... 30,000 St. Maurice Lumber Co., c..................................... 300,000 Steam Music Co., Boston....................................... 10,000 Taunton Britannia and Plate Co., Taunton........ 20,000 Taunton Enamelling Co., Taunton........................ 20,000 Taunton Tack Co., Taunton................................... 20,000 Tremont Oil Co., Boston........................................ 200,000 Union Gas Works Co., Boston............................. 50,000 Union Gauge Co., Boston....................................... 60,000 Union Glass Co., Somerville.................................. 60,000 Union Iron Works, North Adams....................... 200,000 Union Jewelry Co., Attleborough....................... 10,000 Union Straw Works, Eoxborough ..................... 500,000 Union Tool Co., Goshen.......................................... 10,000 Walter Haywood Chair Co., Fitchburg............... 24,000 13,200 Wamesit Steam Mill Co., Lowell......................... Wareham Manufacturing Co., Wareham............ 30,000 Warren Boot and Shoe Co., Warren................... 12,000 Warren Salt Co., c............................................ ...... 40,000 Westfield Machine Works, Westfield................. 6,500 Westford Forge Co., Westford.............................. 20,000 Westville Co., North Amherst............................ 5,000 Whipple Glass Engraving Co., e Boston............. 75,000 29,000 W orcester CouDty Brick M’f g Co., East Brookfi’ld ___ $5,299,333 Aggregate o f 119 companies......................... $7,363,500 NEW C O M P A N IE S F IL E D IN 1857. not stat’d $100 “ 100 100 50 not stat’d 100 100 200 100 300 100 360 S E C E E T A R V ’ S O F F IC E Agawam Co., Agawam.......................................... American Enamel Co., not stated.......................... American Chemical C o , Boston........................... American and Foreign Steam Safety Co., Boston Daggett Manufacturing Co., Attleborough.......... Davis Manufacturing Co., G rafton...................... Farmer’s Grain Mill Co., Boston........................... $12,000 25,000 5,000 32,000 20,000 30,000 36,000 Amount Par value of of capital shares. paid in. $475 $10 35,000 100 8,000 100 60,000 100 10,000 100 100,000 100 42,100 100 14,000 100 60,000 100 12,000 25 25,000 100 30,000 375 40,000 100 50,000 100 21,200 100 100 200,000 1,000 3,885 25 12,000 100 1,027 25 7,000 100 3,500 100 100 Nothing. 19,200 100 30,000 100 300,000 100 10,000 200 20,000 100 20.000 500 20,000 500 100 100 5,000 100 60,000 250 81,000 1.000 7,500 100 500,000 500 4,100 50 24,000 100 13,200 100 30,000 100 12,000 100 40,000 100 6,500 100 20,000 100 100 60,000 10 28,300 100 IN $1,500 6,250 5,000 8,000 20,000 30,000 36,000 d Question not answered. e The stock of the Whipple Glass Engraving Company “ has not been paid in full, as it has been loaned, and put in working order but a short time.” , 379 Journal o f Mining Manufactures, and A rt. No. of Par Amount shares value of of capital Capital stock, taken, shares. paid in. Name of company. Forest Rubber Co., Stoneham..................... Hayden Manufacturing Co,, Williamsburg . Holyoke Paper Co., Holyoke..................... Machine and Lathe Co., Worcester........... Nagasset Paper Co., Springfield.................. . National Steam Gauge Co., Boston........... n North Abingt’n Boot & Shoe M’f ’g Co.,N. Abingt’n H. M. Richards Jewelry Co., Attleborough. Salisbury Mills, Salisbury and Amesbury. Samoset Mills, Plymouth.............................. Sheldonvil e Jewelry Co., Wrentham.. South Gardner Chair Manuf’g Co., Gardner___ Taunton Oil-cloth Co., Taunton.................. The Taunton Umbrella Co., Taunton........ Templeton Chair Co., Templeton.............. The Uuion Manufacturing Co., Dighton. . . Warr’n, Silv’r, Lead, & Copp’r Mini’g Co., Bost’n ,/f i. Westborough Manufacturing Co., Westborough. West Greenwich Lumber Co., Taunton... $8,000 160 $50 100 500 50,000 • 50,000 not stat’d 500 100 60 6 ,0 0 0 100 500 50,000 40,000 not stat’d 1 0 0 C( 100 1 0 ,0 0 0 1 0 0 ,0 0 0 100 1 ,0 0 0 500,000 not stat’d 1 0 0 100 350 85,000 1 0 , 0 0 0 not stat’d 500 100 500 50,000 500 50 25,000 40 500 2 0 ,0 0 0 25,000 not stat’d 1 0 0 1 2 ,0 0 0 100 120 500 500,000 25,000 not stat’d 2 2 ,0 0 0 22 100 100 1 ,0 0 0 OF 1 0 0 ,0 0 0 nothing. 35,000 5,500 50,000 25,000 20,000 5,000 1 2 ,0 0 0 500,000 15,000 2 2 ,0 0 0 $1,030,450 Total, 1857........................................... IN C R E A S E $8,000 50,000 nothing. 6,000 50,000 15,000 6,200 1857. 250 $25,000 1 0 , 0 0 0 not stat’d 300 30,000 140 14,000 158 15,800 3,500 not stat’d F IL E D CAP American Whip Co., Westfield............................. Boston and Maine Foundry Co., Boston............. New Bedford Flour Mill Co., New B edford.. . New England Jewelry Co., Grafton................... Taunton Britannia and Plate Co., Taunton.. . . Westfield Machine Co., Westfield..................... IN . $98,300 Aggregate of increase . . . ...................... Aggregate o f new companies......................... . 1,698,000 Total, 1851 to 1857...................................... . 7,363,500 100 100 100 100 100 100 ... ... ... . .. ... $25,000 not stat’d 30,000 14,000 15,800 1,500 $86,300 1,030,450 5,299,333 $6,416,083 Grand Total.................................................. .. $9,159,800 N ote.— Returns showing the financial condition of the “ Bolton Shoe Com pany ” were filed in the office, January 1st, 1854 ; “ American Whip Company,” Westfield, January 30th, 1856 ; “ Lyman Lumber Manufacturing Company,” South Hadley, January 5th, aud of “ American Joint Stock Pegging Company,” Boston, October 31st, *1857 ; also certificates of the dissolution of the “ Ameri can Yerd Antique Marble Company,” dated April 8 ; and of the “ North American Yerd Antique Marble Company,” dated April 24th, were filed in the office, April 26th, 1854, and of the “ Boston Oil Refining Company,” dated August 8th, and filed August 9th, 1856. MANUFACTURE OF ONONDAGA SALT IN 1857. Prom the Annual Report of Y . W . S mith. Superintendent of the Onondaga Salt Springs, to the Legislature of New York, we have compiled the subjoined statements:—The amount of salt manufactured aud inspected during the year 1857, was as follows, each account being stated iu bushels :— Syracuse. Salina. Liverpool. Geddes. Fine salt........................... Solar salt......................... Dairy or ground.............. 538,051 190,581 44,570 1,709,254 127,681 287,673 732,037 14,680 none 507,650 114,518 48,431 Total......................... 773,202 2,124,608 743,717 f Mining operations carried on in Warren, New Hampshire, 670,599 380 , Journal o f Mining Manufactures, and A rt. Making the aggregate of 4,312,126 bushels. The amount of salt annually manufactured at the Onondaga Spring, during the preceding twelve years, was as follows :— 1 8 4 6 .. 1 8 4 6 .. 1 8 4 7 .. .3,762,358 1 8 4 8 .. .3,833,581 1 8 4 9 .. .3,951,351 1 8 5 0 .. . 4,737,126 1851.. . '6,080,3691852.. . 4,268,919 1853.. .4,614,117 1854.. .4,922,538 1856.. .5,404,524 1856.. .5,803,347 .6,082,885 .5,966,810 The revenue in 1857, amounted (in duties, at one cent per bushel, and in fines) to the sum of $43,126 26. The expenditures amounted to $49,759 27— (in cluding salaries, $19,598 32, and repairs, labor, &c., $30,160 95.) The quantity of Onondaga salt was never better, if it was ever as good, as during the season of 1857. This was owing, in a great degree, to the vigilance of the Superin tendent, and his enforcement of the new and strict inspection laws. The amount of salt inspected during 1857, fell very considerably below the inspection of any previous year, since 1851. The Superintendent says in his report:— “ There is nothing surprising in this circumstance, considering the general dis turbance which has been experienced in the pecuniary affairs of the country. The increased stringency in the money market began to make itself felt in the salt trade in July, and from that date down to the period of the bank suspension, and in fact during the whole season of navigation, while it was apparent that the consumption in salt could not be affected in the same degree that staples of less prime necessity were, yet the diminished facilities for money accommodations, and the general want of confidence among dealers, continued to reduce sales and shipments, until the consequences were made manifest in the manner which ap pears from the tables given above, as compared with the statements of a pre vious year.” “ The price of coarse and fine salt at the works during 1857, was held by an arrangement among the manufacturers, at one dollar and a quarter per barrel of two hundred and eighty pounds. Fine salt can scarcely be sold at a lower rate, and leave a reasonable profit for the manufacturer. Of fine salt inspected in 1857, about 2,200,000 bushels was the production of 1857; the residue (about 1,100,000 bushels,) was in the manufacturers’ hands at the beginning of the year. There was also on hand, on the reservation, and at the port of Oswego, of the inspection of 1856, about half a million bushels of fine salt, and two million bushels of solar salt. No complaint is made by the dealer or consumer, at a distance from the works, of the price for which salt is sold. It is known to be a little above the cost, and uniform rates fixed for, and extending through the season, are deemed advantageous.” “ The business character of 1857, did not favor the extension of the salt busi ness. Only three new blocks (for making fine salt) were erected. The coarse salt trade was not so much affected by the financial flurry, and there were about three thousand new covers (or vats) erected. The total number of fine salt works is 307, and there are about 26,000 coarse salt covers. Frequent and heavy rains restricted the manufacture of coarse salt, which is all done by evapo ration ; fine salt alone being made by the boiling process. Some attempts have been made to extend the market for coarse salt in the Southwest, and with considerable success. The coarse salt works are capable of yielding at least four times as much salt as was made by them in 1857. The process of manu facturing it has been improved ; it is now pulverized to the same degree of fine ness as the fine salt proper. It costs less than the fine, and for curing butter it is superior to any imported article, and much better adapted to pickling than foreign salt. There are now six salt wells in use.” LIVERPOOL IRON MARKET, 1856 AND 1S57. From the annual tabular statement of the iron market, prepared by Mr. F. Robinson, of Liverpool, for the year ending December 31, 1857, we have extracted the following facts which are of much interest to all persons engaged in the man- , , 381 Journal o f Mining Manufactures and A rt. ufacture or consumption of iron. It will be noticed that nearly half of the aggregate exports are to the United States, a fact which we should not be par ticularly proud of when we recollect that we have the largest amount of ore of any country in the world, and of the very best quality too, with coal-beds con tiguous, and every natural advantage for turning the ores into bars, rods, hoops, sheets, plates, rails, and pig. Our iron manufactures once fairly established, we could defy the competition of the whole world, just as we can now in cotton manuftctures :— E X P O R T S OF IR O N F R O M 1866 L IV E R P O O L , AND 1857. [The amounts o f each article are specified in tons.1 1856. To Bars. Rods. Hoops. Sheets. Plates. Pigs. Bails. United States. Other ports. . . 64,966 76,959 4,218 12,031 9,462 15,789 15,516 16,982 3,765 7,949 15,898 8,610 25,097 27,643 138,922 165,962 Totals.......... 141,925 16,249 25,251 32,497 11,714 24,508 52,740 904,884 63,597 68,966 4,553 9,351 8,784 13,311 12,636 16,699 3,360 8,378 9,483 6,784 27,930 33,576 130,343 157,065 Totals.......... 132,563 13,904 22,095 29,336 11,738 16,267 61,506 287,408 Tot’l iron. 1857. To United States. Other ports . . The following table shows the prices o f iron , free on board, in Liverpool in 1856 and 1857 :— IS57 A A Description. Merchant b a rs.. . .per ton Staffordshire rails........ No. 1 Scotch Pig, g. m. b.. £ s d High’st. Low’st. £ s d Av’rage. £ s d High’st. £ s d Low'st. £ s d Av’rage. £ s d 812 6 9 00 4 5 0 7176 7 15 0 3 18 6 8 6 3 8 10 4 4 2 8 8 7 6 8 12 6 4 6 6 6 10 0 7 15 0 3 0 0 7 15 9 8 4 9 4 0 0 The following is a comparative statement of Scotch pig and malleable iron, with the prices, stock on hand, etc., for the years 1855, 1856, 1857 :—- 1855. 1856. 1857. F oreig n shipm ents from S cotla n d ............................. tons C oastw ise shipm ents from S co tla n d ................................ 249,000 293 ,00 0 259,500 247 ,60 0 294,000 2 3 3 ,60 0 T o ta l shipm ents from S co tla n d ................................ S to o k in S cotla n d 8 le t D e c e m b e r ...........................tons Furnaces in blast, 31st D e c e m b e r .................................... P rice o f m ix ed N os. F .O . B. G la sg ow , D ec. 3 1 . .per ton A v ’ra ge price m ix ’d N os. F. 0 . B. G la sg o w , for the y e a r M ake o f m allea b le iron in S c o t la n d ........................ tons A v ’ rage p rice o f b’ rs in G la sg ow , for the y e a r , . p ’r ton B ank rate o f discount, 31st D ecem b er............................. 542,000 507 ,10 0 90,000 123 74s. Od. 7 2 b. 6 d. 125,000 £ 9 08. Od. 6 2 7 ,50 0 190,000 123 523. 6d. 69s. 2d. 100,000 121 759. Od. 7 0 b. 9d. 110,000 £8 12e. 6d. 6£ per ct. 6 per ct. 100,000 £8 10s. Od 8 per c t ’ MANUFACTURE AND IMPORTATION OF PLATE GLASS. We have received from a merchant of the city of New York the annexed note:— F reem an H unt, Editor of the Merchants' Magazine:— The Merchants’ Magazine of January, 1858, (vol. xxxviii., pp. 121-122,) con tained an article entitled “ Improvement in the manufacture of plate glass,’’ which does much injustice to the importers of plate glass in so far as it incidentally states, “ that the St. Gobain factory seems to have a monopoly of the trade in the United States.” The facts are that two of the Belgian and two of the Eng lish factories have agents in the city of New York, and one house carries on the 382 Railroad, Canal, and Steamboat Statistics, business on tbeir own account, importing the British, French, and German plate glass. Through this competition the prices have been reduced to about onethird what they were three years since, so that, what was once an article of luxury, is now (February, 1858,) within the reach of all, and the better qualities of sheet glass are being fast superseded by it. The new mode of polishing may have some slight advantages, and has certainly many drawbacks as compared with the older methods nowT in use in Europe ; but as it has long been done wholly by machinery, there can be but little gain. The duty is twenty-four and not thirty per cent.” RAILROAD, CANAL, AND STEAMBOAT STATISTICS. TROOSTS' RAILWAY SPEED INDICATOR. We learn that L e w i s T b o o s t , Esq., of Mobile, Alabama, has recently patented an invention of great value to railroad companies. Mr. Troost is distinguished for eminent attainments in engineering, and has for several years ably filled the office of Chief Engineer of the Alabama and Tennessee Kivers Railroad. We have heretofore noticed some of his reports, and have been favored by him with other documents of value. His invention is designed to enable the superintendent or engineer of a train to keep a perfect record of the rapidity of its movement at any time, and thus to preserve for accurate comparison the successive results. The Scientific American from which we extract the following description of this invention, states that it was patented in England, June 15, 1857, and in France, June 18,1857 The invention consists of an apparatus for registering every second or other interval of time between the departure of a railway train and its arrival at its destination, by a series of marks produced in one or more lines by a pen, style, or other marking instrument on a strip or sheet of paper or any other suitable sur face, and the registration upon the same surface of every one or more revolutions of the wheels of the train, or of any wheel attached to one of the cars running on the tracks, by one or more series of marks produced in one or more lines parallel with or conveniently continguous to the line or lines of registration of time by means of one or more pens, styles, or other marking instrument whose operations are controlled by the said wheel. By the comparison of these regis trations of time and distance—the registration of the revolutions of the wheel being an indication of the distance—the exact rate of the train at any time, can be determined : and the register of time proceeding vdien the train is stationary indicates the length of the stoppage, the localities of which are also indicated by a comparison with the registration of distance. The invention also consists in causing marks of a different character to those produced by the revolutions of the wheel in running forward, to be given when the wheel is running backward ; such marks being continued in the same line or lines or nearly so as those registering the forward revolution of the wheel, so as to enable them to be compared with the registration of time to show the time occupied in backing ; the different characters of the marks produced by the forward and backward revolutions of the wheel serving alsq to indicate the localities of the backing places, and by de ducting the distances backed from the whole number of forward ones, the exact distance made by the train can be calculated. BUSINESS OF THE TIDE-WATER CANAL, 1849-1857. The Tide-water Canal extends from Wrightsvillc, Pa., (situated on the west bank of the Susquehanna River, opposite Columbia,) forty-five miles along the 383 Railroad, Canal, and Steamboat Statistics. bank of the Susquehanna to Havre de Grace, M d .; and since its construction, the latter town has considerably enlarged and improved. It is a work of large capacity, and forms a channel, through which great quantities of coal are sent to market. After reaching tide-water, its boats are towed to Baltimore and Phila delphia, (to the latter, through the Chesapeake and Delaware Canal,) and other places. Thus it constitutes an important avenue between both these cities and the interior of Pennsylvania. It was constructed, we believe, by an incorporated company. In the Philadelphia Commercial List wo find the following statement of the number of boats towed to Philadelphia and Baltimore that arrived at Havre de Grace, from the opening of navigation in 1849 to the close of 1857 :— Pliila. 1849 ................. 1850 ................. 1 8 5 1 ................. 1852 ................. 1 8 5 3 ................. ......... ......... 2,626 2,576 ........ ......... 2,899 2,842 Baltm’re. 1,560 1854 ................. 1,640 1855 ................. 2,047 1856 ................. ......... 2,412 1857 ................. ......... 2,521 Phil a. Baltm’re. 3,024 2,292 2,556 2,642 2,648 2,317 STATISTICS OF THE ILLINOIS AND MICHIGAN CANAL, By order of the Board of Trustees of the Illinois and Michigan Canal, the Se cretary of the Board has published under date of January 1st, 1858, the annual circular showing the proceedings of that body for the financial year ending No vember 30th, 1857. The following table will show the cost of superintendance, maintenance of canal and feeders, repairs, and renewals of structures, cost of pumping operations, &e., from the opening of the canal in 1848 to 1857, inclusive, year by year:— Ordinary repairs. Extraordinary Gross repairs. expenses. 1848 ................. 1849 ................. 1850 ................. 1 851................. 1852 ................. 1863 ................. 1854 ................. 1855 ................. 1856 ................. 1857 ................. $36,462 43,922 38,418 39,447 42,816 40,883 36,587 37,982 33,101 37,257 $6,745 26,999 19,996 19,027 10,692 4,486 16,654 31,071 58,357 66,825 $43,197 70,922 58,415 58,475 53,508 44,870 53,242 69,063 91,458 103,082 Average.. . 38,638 25,985 64,628 Canal opened April “ March “ “ “ “ April “ May 19 20 22 15 29 14 15 3 8 1 Number Canal closed. Nov. Dec. “ “ “ “ “ “ “ Nov. 29 6 6 8 8 12 2 12 4 20 days open. 224 231 259 269 255 274 263 253 241 204 247 In 1857, the canal was opened from Chicago to Joliet on the 15th of April, and on the 1st day of May, a loaded boat arrived at La Salle from Chicago. The gross revenue from tolls for the financial year ending November 30, 1857, was $197, 830 38. OPENING AND CLOSING OF THE NEW YORK CANALS. The following statement shows the date of the opening and closing of the canals o f the State o f N ew Y ork , in each year from 1844 to 1857, inclusive Year. 1844 1846 1846 1847 1848 1849 1850 .. .. .. .. .. .. .. Opened. Closed. Days open. Year. A pril 10 “ 15 “ 16 May 1 “ 1 “ 1 April 22 Nov. 26 “ 29 “ 25 Dec. 1 “ 9 “ 5 “ 5 223 228 224 214 223 219 228 1851 1852 1853 1854 1855 1856 1857 Opened. .. .. .. .. .. .. .. April 16 “ 20 “ 20 May 1 “ 1 “ 5 “ 6 Closed. Dec. 5 “ 15 “ 15 “ 3 “ 10 “ 10 “ 16 Days open. 236 239 239 217 224 217 225 384 , , Railroad Canal and Steamboat Statistics. RAILROADS AND CANALS OF NEW JERSEY. The following table exhibits the cost of the several railroads and canals in New Jersey, with their receipts and expenses during the year 1857 ; and is com piled from their annual reports in 1858, to the Legislature of that State:— Delaware and Raritan Canal................ Camden and Amboy Railroad............. Morris and Essex Railroad.................. Morris Canal Company......................... Newark and Bloomfield Railroad. . . . Millstone and New Brunswick Railr’d. Central Railroad.................................... Patterson and Ramapo Railroad........ Patterson and Hudson Railroad.......... Sussex Railroad..................................... Warren Railroad................................... Freehold and Jamesburg Railroad.. . Flemington Railroad............................. Burlington and Mount Holly Railroad. Cost. $3,863,909 5,563,589 1,600,808 2,506,530 101,382 111,114 4,370,640 359,000 630,020 257,079 1,519,400 220,660 288,513 120,000 Receipts. $484,982 1,611,303 246,801 286,669 14,247 9,000 682,314 26,500 33,400 30,290 162,265 41,716 13,144 22,118 Expenses* $195,080 943,491 173,846 119,793 14,138 5,852 325,664 3,413 17,939 81,133 20,271 10,600 RAILROAD SLEEPERS— HOW SHALL WE GET THEM ? The consumption of timber on American railroads for the single article of sleepers, is so great as almost to defy calculation. Some attempts have been made to lessen this consumption by subjecting the Sleepers to a process which will prevent or check their decay. Salt has been extensively tried, but in a very imperfect manner. Some companies have adopted the kyanizing process, and keep their sleepers immersed in the licpior a long time. But this process requires time and a great deal of space where much is to be done. Salt is about to be employed on one of the New Jersey road3 in a way somewhat different from former practice. A machine was recently patented to a citizen of Trenton which bores a log with astonishing rapidity, at the same time making the hole perfectly straight all the way through— that is, if the hole be started at the center of the log or scantling, the auger will come out at th£ exact center of the other end, a feat which no hand-boring can perform. By this machine it is intended to per forate the sleepers from end to end, fill the cavity with salt, and plug up. But this process will be au expensive one, as the cost of salt will be considerable. A cheaper and better method would bo to boil the sleepers in common gas tar. This would charge the pores with a substance that would enable the wood to resist decay for many years. But while all railroad men are sensible of the immense number of sleepers which are called for every year, and that they are annually becoming dearer, no railroad manager seems to have adopted any plan for pro ducing them. If the long stretches of railroad which are everywhere found were lined with alanthus or chestnut trees, say in double rows on each side, this expedient would establish an unfailing supply of the best material for sleepers. The planting could be done by contract at a cheap rate, and the trees would grow up taster than the sleepers decay. Either the plauting process must be adopted, or better and cheaper modes of sleepers introduced, or an indestructible substitute invented, as the forests of our country will not always support the heavy drain upon them required to keep up nearly 30,000 miles of railroads. INTER-OCEANIC CANAL ACROSS THE ISTHMUS OF PANAMA. It is singular, says a writer in Blackwood, “ that at a time when the Isthmus of Panama is attracting so much attention, and exploring parties have been lost in their endeavors to discover a practicable line for an inter-oceanic canal, no one should have as yet attempted to cross the Isthmus at its narrowest point. Be fore ascending the Atrato, and diving into the heart of the South American con tinent, and proposing to convey ships from thence by a tunnel, it would have Railroad, Canal, and Steamboat Statistics. 385 been wise to examine that part of the neck of land which nature points to as affording the most probable solution of the difficulty. I heard, at Panama, ac counts of a depression in the Cordilleras at a point where the two seas ap proximate so closely to one another, that the natives are in the habit of making a portage with their canoes, from the waters flowing into the Gulf of Mexico into those which lose themselves in the Pacific; and I was not sorry, in company with a fellow-countryman, to join a Frenchman, a German, and a Spaniard, who were about to start on a visit to some property one of them had recently purchased in that direction, in the hope that I might gain some information relative to so in teresting a subject. The limited time at my disposal unfortunately precluded the possibility of my attempting anything in the shape of regular exploration. About thirty miles to the southeastward of Panama, the river Bayanos enters the Pacific, almost dividing the Isthmus at a point where the distance from sea to sea does not exceed thirty miles in a direct line. This was the river we pro posed ascending, in the hope, at all events, of finding out something from the Darien Indians who inhabit this narrow strip of territory, and whose inveterate hatred to Europeans has operated hitherto as an effectual barrier to any attempt at penetration into their country. * * * From Chepo a depression of the chain was perfectly visible. The distance from Terabla to the Gulf of Mexico cannot be more than fifteen miles ; yet, although comparatively so near Panama, no one has attempted to traverse the country. An armed party would be indis pensable for the purpose, as the Darien Indians are the most ferocious tribe in the country, and well skilled in the use of poisoned arrows and the blowpipe. The very circumstance of their so jealously resisting the entrance of a white man into their district, goes far to show that they are conscious of its holding out some unusual inducement to his stay there. It is, indeed, confidently asserted, upon information gained from them, as I have before said, that they constantly trans port canoes of some size across this watershed.” RAILROADS IN THE UNITED STATES, We derive from the “ American Railroad Annual, compiled from official sources by R. S. F i s h e r , E sq,” and published by Dinsmore & Co., New York, the annexed tabular statements of the railroads in the United States, on January 1, 1858 States. No. of .-----Length of lines.-----k companies. Total. Open. 11 586* 594| 585* 1,413* 63* 659 541* 559* 521f 1,283* 63* 647* Total six New England States. 97 3,884* 3,617 New Y o r k ............... ......................... New J e rs e y .......................................... Pennsylvania........................................ D elaw are ................................................ M aryland ................................................. 42 16 68 3 10 2,893* 621* 3,453* 91| 844* 2,700* 5294 2,773* 914 798* 103,407,268 24,825,970 135,166,609 1,619,310 44,357,831 M aine.................................................... New Hamspshire................................. Vermont................................................ Massachusetts...................................... Rhode Island........................................ Connecticut.......................................... Total five Middle States........... V irg in ia ................................................ North Carolina......... ............................. South Carolina...................................... G eorgia.................................................. Florida....................................................... Total five Southern States......... VOL. X X X V III.---- NO. III. 14 16 8 47 2 Cost of con struction and equipment. $17,963,677 17,597,703 20,523,998 63,384,310 2,586,512 24,348,963 $146,805,163 139 7,904* 6,8934 $309,376,488 19 9 14 4 1,465* 706 974* 1,361 521 1,321* 675 748* 1,185* 128 37,705,049 11,126,486 17,601,944 24,952,153 3,500,000 51 5,028 4,058* $94,885,682 6 25 , 386 Statistics oj Population etc. States. Alabam a............................................... Mississippi.............................................. Louisiana................................................ Texas...................................................... Arkansas ............................................... Tennessee.............................................. Kentucky .............................................. No. of Length of lines.—v companies. Total. Open. 7 1,160f 658J 5 404 177 8 995 335 6 1,565 147 1 3 8! 146 9 1,116 887! 9 666J3044 Cost of con struction and equipment. 15,263,771 5,515,009 11,032,362 5,000,000 775,000 19,350,390 10,197,414 Total seven Southwestern States. 44 6,058 1,438! $67,123,946 O h io........................................................ Indiana.................................................... Michigan................................................. Illinois...................................................... Wisconsin....................... ....................... Iow a......................................................... Missouri...................................... ......... 29 16 6 18 10 7 4 3,298! 1,451 1,025 2,616 1,962 1,076 798 2,798! 1,231 999 2,616 718 256 817 106,043,328 28,801,276 30,390,858 86,440,291 19,295,842 9,087,529 19,140,247 Total seven Northwestern States. 89 12,226^ 8,936! $299,205,371 2 2! 750,000 36,1374 25,9654 $918,146,600 California................ ............................. 1 Grand t o t a l................................ 421 22! STATISTICS OF POPULATION, & c „ ILLEGITIMATE POPULATION, INFANTICIDE, ETC, The special committee of the Board of Councilmen of the city of New York, which had been appointed to consider the propriety of establishing a Hospital for Foundlings, held a meeting on the 11th of December, 1857, at which Dr. J ames W ynne submitted an interesting statement of facts concerning Foundling Hospitals, etc. We now publish an outline of his statement, using, substantially, the report given of it by the Courier and Enquirer:— “ The establishment of such institutions occupied a prominent position among the public charities of European countries. Nations of Latin origin opened these hospitals for the reception of foundlings of every class and description, while those of German origin confined their use to infants who had lost one or both parents. St. Yincent de Paul was the champion of the former system, and Herman Franke of the latter. France, Belgium, Italy, Spain, Portugal, Austria, and Bussia have adopted the former system, and England, Holland, Sweden, Denmark, Prussia, Switzerland, a considerable part of Germany, and of the United States, the latter. The legislator should look upon these institutions as of abso lute necessity, arising as they do from the vices or infirmities of human nature. The first Foundling Hospital known in history was that of Milan, founded in 1787. That founded at Paris by St. Yincent de Paul in 1640, is the most ex tensive and useful establishment of the kind now in existence. Prior to 1835, a turning-box was used, in which the children were secretly deposited by their mothers; but since that time a certificate from a Commission of Police is neces sary to secure the admission of an infant into the Hospital. Statistics of places where these hospitals are established show a slight decrease in the number of illegitimate births.” On the subject of infanticide, Dr. W. said :— “ In the city of New York, according to the reports of the City Inspector’s Statistics o f Population, etc. 387 office, the statistics of still births were of an alarming character, from the years 1805 to 1857, in the first instance the proportion being one birth in every fortyfive, increasing each half year until 1857, when the proportion was one to twelve. The registration of Connecticut, Massachusetts, and Kentucky, indicated a pro portion of about one to sixty. The large increase of still births in this city could lead to but one inference, viz., that the number of cases of indirect infanti cide, resulting from abortion or otherwise, was fearfully large in our midst. Dr. W . stated that he did not believe that physicians of standing were concerned in such matters, but he could not resist the conviction that there was a consider able proportion of unprincipled men in the profession, who lent their agencies to bring about the startling effects he mentioned. He was unwilling to indicate what was his belief as to the expediency and propriety, or otherwise of establish ing a Foundling Hospital in this city upon an equitable system, but preferred to allow the facts which he had been at the pains of collecting to speak for them selves, and cause the committee to deduce such an inference as in their judgment might seem best.” POPULATION OF CUBA IN 1857. We are informed that the following table shows the population of Cuba, by Districts, as reported by the census of 1857, and recently published :— W ESTERN Jurisdiction. DEPARTM ENT. Whites. Free col’d. Slaves. 502 1,674 3,250 8,016 3,529 2,384 2,250 29,833 1,028 6,275 5,131 1,941 8,806 1,270 1,763 1,300 4,675 3,850 1,469 7,921 6,762 7,343 60,228 15,699 5,459 20,651 16,975 30,583 8,183 44,537 13,041 7,521 6,466 15,509 11,563 5,327 8,355 6,847 6,287 10,812 Total. 11,491 20,357 90,561 42,806 21,814 38,445 41,126 146,473 19,094 89,901 45,933 20,749 42,673 33,919 27,233 14,090 38,477 27,140 18,902 32,706 94,857 306,036 824,801 4,228 10,137 33,827 Nuevitas.............................. Puerto Principe.................. T u n a s ................................. 3,578 4,252 9,389 290 10,091 2,161 1,643 2,808 34,889 6,928 3,401 651 1,351 1,176 12,830 746 9,898 23,544 82,330 10,509 31,826 12,957 19,061 4,608 58,702 8,256 Total E. D .. ............ “ W. D ................ 70,953 94,857 66,423 306,036 272,142 824,801 A ggregate .............. 174,810 Bahia-Honda............................ Bejucal....................................... Cardenas.................................. Cienfuegos................................ Guanbacoa.............................. Guanajay.................................. Guinea...................................... H aban a................................... Jaruco....................................... Matanzas............................. Pinar del Rio ....................... San Cristobal.......................... Santa Clara ......................... Sagua la Grande.................. San Antonio......................... Santiago.............................., Santo Espiritu....................... San Juan de los Rem edios. , Santa Maria del Rosaria. . . . ................. Trinidad................................. 12,146 Total, W. D ............. EASTERN DEPARTMENT. Baracoa............................... Bayamo.............................. C uba........................................ Guatanamo............................. Holguin.................................... Jiguani.................................... Manzanillo............................... 2,000 374,549 1,096,943 388 Statistics o f Population, etc. To the above is to be added the number of “ Emancipados 5,240,” and of “ Asiatic colonists 5,308”— making the total population of Cuba, in 1857, 1,107,491. With the above statement we combine the returns of population of the “ Queen of the Antilles” at former periods, viz Years. Whites. 1776................................................ 1827...................................................... 1 8 4 1 ... .............................................. 1863..................................................... 1867...................................................... 94,419 311,061 418,291 610,988 549,674 Free col’d. Slaves. Total. 80,616 106,494 162,838 176,647 174,810 44,836 286,942 436,496 330,425 374,549 169,370 704,487 1,007,624 1,009,060 1,107,491 The above table includes the population of all the islands and keys adjacent to Cuba. The Isle of Pines, with an area of 600 square miles and population of 1,500, is included in the Havana jurisdiction. In the Merchants’ Magazine of October, 1854, (vol. xxxi., page 511,) we pub lished the census of Cuba in 1853—similar to the foregoing table for 1857, but with additional statistics of each jurisdiction. THE POOR AND PAUPER P0PU1ATI0N OF LONDON. At the last census, in 1855, London contained 2,362,236 souls, namely:— 1,106,558 males and 1,255,678 females. The Registrar General computes the in crease of population since 1855, at 60,000. The census was taken in one day, and among other facts enumerated it appears there were on the nights when it was taken. 28,598 husbands whose wives were not with them, and 39,231 wives mourning their absent lords. Last year the number of children born in London, was 86,833, and in the same period, 56,786 persons died. It is estimated that in that city 169 persons die daily, and a baby is born every five minutes. The number of families living in one room is estimated as high as 150,000, and in the parish of Kensington, in a place called the Potteries, there are 1,147 human beings and 1,041 pigs congregated within a space of nine acres. The dwellings of a large proportion of the inhabitants of this locality are mere hovels, with shattered roofs and unglazed windows, the floor below the level of the external soil, and the walls at all times partially damp. Another portion of the miserable population have converted old carriage bodies, removed, in some cases, from their wheels, into houses; others have no other dwellings than ruined post-chaise bodies, for which a rent of 6d. a week is paid. Notwithstanding the great number of the squalidly poor and the vicious contained within its borders, London is said to be one of the healthiest cities in the world. In 1856, the proportion of deaths was only 22 to 1,000 of the population, and half of the deaths of adults which happen occur from consumption and diseases of the respiratory organs. ENCOURAGEMENT FOR SETTLERS IN JAMAICA. The Colonial Standard, of Kingston, Jamaica, in its issue of 28th of Decem ber, 1857, contained the following:— The immigration act, which has now become law, is one of the most valuable acts in relation to the industrial economy of the island that has probably ever been placed on our statute book. It not only lays down a well digested scheme for the regulation of an immigrant system—protecting the immigrant equally with the employer— but it provides a machinery for a continuous progress of immigration, on conditions which are wholly sell-supporting. And while there are provisions made whereby a useful industrial population may from time to time be carefully recruited from whatever source may promise the largest amount of general usefulness, there is established a machinery whereby a permanent colonization may be fostered, and immigrants arriving under the pledge of being returned within a given period of years to their own country, free of expense to themselves, be induced to settle permanently in the island with a grant of land, obtainable by industrial residence. Mercantile Miscellanies. 389 THE POPULATION OF ITALY. According to the best authorities the population of Italy is at present about as follows:— Sardinia, 4,776,034 souls; the Lombardo-Venetian Kingdom, 4,916,347 ; Italian Tyrol, 495,204 ; Canton of Ticino, 129,313 ; Duchy of Parma, 511,969 ; Duchy of Modena, 606,139 ; Grand Duchy of Tuscany, 1,817,166 ; Papal States, 3,100,000 ; and the Kingdom of the Two Sicilies, 8,616,922. Thus, the whole population of Italy is about 24,000,000 souls. MERCANTILE MISCELLANIES. SONG OF THE MISER. Dealing, as we do, largely in statistics in the Merchants’ Magazine, we are not unmindful of the lighter affairs of literature, which have any bearing upon commerce, which in its full significance embraces every other interest of society* The V Song of the Miser,” by W m . F in c h , from the Liverpool Albion, may, with out any great departure from the scope of our Magazine, appropriately g ve relief to the weightier matters of money, merchandise, or mercantile topics, which for the most part occupy our time and attention :— C l i n k , clink! There’s a ray of light through the window chink, That comes to play with my gold, I think; I must bar it out to-morrow. I’ll have no sun-rays counting my store; They come from a world that’s hungry for more, That spieth my coffers and hateth me* sore; T h a t I know to my sorrow. Clink, clink! A beggar-girl stood on the parapet brink Of the lonely bridge—quite crazy, I think— And gazed on the moaning water. She asked for a farthing, I gave her a curse; She plunged, and the city provided a hearse; No matter—It might have been terribly worse; ’Twas only a poor man’s daughter. Clink, clink! How the golden eagles glow on the brink Of the yellow pyramid/built, I think, From spoils of every people. Say I frame me a miniature church the while, Moidore and Sovereign will pave me the aisle, Doubloons and Ducats will wall it in style, And Crowns run up to steeple. Clink, clink I A delicate eye-lid flashed me a wink. Yesterday—close by the park, I think: What widow was it, I wonder ? Why smile upon me, grim, ugly, and old ? If the forks of the lightning were woven with gold They would lasso each flash with a veil's white fold, Despite the following thunder l Clink, clink 1 Across the way but a chain and a link, A spider hides in his web, I think: ^A leopard-sleek attorney. He would cut men’s throats serenely and cold. If their artery-blood ran molten gold; He’s is traveling on to his master’s fold— I wish him a sulphurous journey. Clink, clink I My beautiful gold, thy gleams I drink, Brighter, more nectrous than wine, I think: They glisten like stars of even. I love thee better than sun-brown hair, Better than sick men June's warm air, Better than angels the penitent prayer, Better, aye, better than Heaven! OBITUARY OF A VENERABLE MERCHANT OF BOSTON. The Boston Evening Transcript of September 8,1857, reported the death of Mr. Elias Haskell, one of the oldest and most highly esteemed merchants of Bos ton. The deceased was in his ninetieth year, having been born in Harvard, Worcester County, Mass., April 2d, 1768. He commenced business in his native place in 1791, where he remained until 1798, when he removed to Boston, and with a partner, under the firm of “ Haskell & Whitney,” opened a store in Cambridge-street, then one of the principal business avenues in the town. In 1818, he removed to Central wharf and continued business some years under the firm of “ Haskell, Barnard, & Thatcher,” and upon the death of the junior partners he formed a new copartnership with Mr. Clark, under the firm of “ Haskell & 390 Mercantile Miscellanies. Clark,” which continued until the death of the latter in 1835, when he retired, after an honorable business career of forty-four years, having survived all his partners. Mr. Haskell was a member of the Common Council in 1823-24, the first two years of the Mayoralty under Josiah Quincy. He had but little taste, however, for political life— although he never failed to vote at every election, no matter what question was to be decided. He had the sterling virtues of the merchant of the “ old school”—was ever prompt to an engagement—-upright in all his movements— of spotless integrity—ready to assist the needy and cheer the de sponding—and his contemporaries have always said he never had an enemy. His moral qualities brought the confidence and respect of a wide circle of friends. He was for many years an officer of the Masonic Fraternity, and was one of the oldest masons in the State. The deceased leaves a widow with whom he has lived upwards of sixty years. I looked upon the righteous man, And heard the holy prayer Which rose above that breathless form, To soothe the mourner’s care, And felt how precious was the gift He to his loved ones gave— The stainless memory of the just, The wealth beyond the grave. IMPRISONMENT FOR DEBT IN CANADA, The following article is from the “ Canadian Merchants’ Magazine and Com mercial Review,” an imitation (commenced in April, 1857,) of H un t ’ s M er chants ’ M a g a z in e a n d Commercial R e v ie w , with the exception of the size, or number of pages, and the fact that the “ Canadian ” is devoted mainly to the commercial and industrial interests of that province of the British Empire, while our Magazine has not only embraced all matters connected with the commercial growth and greatness of the American Union, but of the entire world. “ No pent up Utica ” has contracted our views. We may here remark that our Ca nadian friends are not alone in copying our idea of a Commercial Literature. A similar work, entitled “ Lawson’s Merchants’ Magazine and Commercial Review,” was started in London in 1846, or seven years after our Magazine was estab lished ; but we are unable to state how loDg it was continued, as we have not seen or heard of it for some time. We make these statements in no spirit of unkindness. In fact, we feel complimented by our cotemporary for the ap preciation of our pioneer labors in the field of Commercial Literature :— In various parts of Western Canada many are at this moment incarcerated solely on account of their inability to meet their engagements. Our citizens have mourned over the wrongs of “ Uncle Tom,” within sight of the prisons where their own countrymen, and even countrywomen, have been incarcerated for years for what the law does not recognize as a crime 1 It is high time that our sympathies were directed to a matter so nearly affecting both our interests and our character, and which only requires an effort to place it on a proper footing. Failures and misfortunes follow the footsteps of commerce in all nations; riches take to themselves wings and flee away ; fortune does not always follow the brave, nor success reward even the prudent. The object of law is to protect the weak and unfortunate against the strong and vindictive; to punish the guilty and protect the innocent. The laws of Canada are, upon the whole, just and dis Mercantile Miscellanies. 391 criminating, severe but wholesome. Even the law of which we complain is in itself scarcely objectionable. A man contracting a debt, does so upon the faith of remaining in the country till that debt is liquidated; and if arrested in at tempting to flee his country cannot complain to harsh treatment. But this power to arrest, if not placed under proper restraint, may become, as it has be come, a crying evil in Canada. The sacredness of an oath is often forgotten by the impatient creditor, who, in his anxiety to secure his claim, hesitates not to make the necessary affidavit to secure the debtor’s arrest, on the most trumpery evidence of his intention to abscond. The trader may become embarrassed through misfortune, mismanagement, ex travagance, or dishonesty. As he is trusted on a supposed knowledge of his capacity and prudence, a want of these cannot be imputed as a crime. It is only for dishonesty, or supposed dishonesty, that his arrest is justifiable. Unfortun ately, the designing man generally escapes by a timely removal, while the honest unfortunate, like the crane in the fable, must suffer the consequences of keeping bad company. This state of things is now producing its natural results, the embarrassed trader becomes the absconding debtor, and what under milder laws might have been a partial loss, becomes under present circumstances a total wreck. Honest men whose first misfortunes would have made more careful, are driven from the country, others equally inexperienced take their place, who in their turn meet a similar fate. Thus while the present law is almost powerless for good, it is powerful for evil. It cannot make one rogue honest, but it makes many honest men act as rogues. If the necessary amendments are not speedily obtained it will not be owing to any opposition from the mercantile community. Nine-tenths of them are opposed to harsh measures, and are ever ready to accept of any reasonable compromise and even to continue their support where there is a favorable prospect of better results. But indifference may prove equally dis astrous, and as we may look for many extensions and compromises before the business of the country is fully restored, it is for them to see that their losses are not doubled through the operation of an imperfect legislative enactment. We rejoice to see that some of the most influential newspapers in the Province are giving their attention to this subject, and we feel convinced that its importance need only to be fairly brought forward to insure the necessary reform. OUTLINE OF THE LIFE OF A SCOTCH MERCHANT. The following is an outline of the commercial life of Mr. John Monteith, who was recently declared a bankrupt for £400,000 :— In 1835 he commenced busi ness in Glasgow, Scotland, as a calico printer, and after four or five years of un successful trade, failed for about £40.000, paying a very small dividend. He then went to Manchester, where he commenced again as a calico printer, and, as before, failed, paying again, if any, a very small dividend. He then returned to Glasgow, and got a situation in a large calico printing house, and received, besides a handsome salary, large sums of money by way of commission. His ex travagance, however, beggared him, and he was dismissed with, on his making an abject appeal, a present of £1,500. He commenced business again in 1848, and has for the third time become a bankrupt, with assets, which, in all pro bability, will only pay a dividend of a few pence in the pound. This huge loss will fall almost exclusively upon the unfortunate shareholders of the Western Bank. In the course of his last examination, John Monteith stated that his domestic expenses averaged £1,704 a year since he commenced business this last time. If common report is to be believed, he kept up a style which few men, with less than £10,000 a year, would attempt. He had 18 servants, carriages and horses, a splendid table and choice wines, an extravagant family, and a large and elegant country mansion. 392 Mercantile Miscellanies. BRIEF OBITUARY OF A NEW YORK MERCHANT. In accordance with our custom of publishing in the Merchants' Magazine biographies of eminent merchants, we now give a brief sketch of the life of J ohn O othout , Esq., ex-President of the Bank of New York, which we have compiled from a notice in the Courier and Enquirer. “ Mr. Oothout, who died at his residence in New York, on Thursday, 28th of January, 1858, aged TO years, came of an old Knickerbocker race, and lived a life of quiet usefulness and integrity, worthy of his origin. He was born in New York, and started in life as clerk to the late well known Robert Lenox. Mr. Oothout did not, after the termination of his clerkship, engage in mercantile or any other special business for himself. He was, however, soon called to that re sponsible service in public business which he worthily continued to perform to the end of his life. Appointed Treasurer of the Savings Bank in Chamber-street, he discharged its duties for twenty years, and then became President of the Bank of New York, which office at the time of his death he had filled for fifteen years, having also been a Director thirty years. Mr. Oothout was also for several years a Director of the Knickerbocker Fire Insurance Company, and was at the time of his death also the President of the New York Eye Infirmary. Mr. Oothout was benevolent in disposition, and had, like all true Knickerbockers, an intense love for home and family, in the midst of which he was ever happy, loved, and venerated.” THE DENNISTOUN MERCANTILE FIRM OF SCOTLAND, The following account of the very extensive firm of J. & A Dennistoun, we copy from the Fifeshire (Scotland,) Advertiser:— The firm of Messrs. J. & A . Dennistoun was founded about seventy years ago by James and Alexander Dennistoun. Alexander died at a comparatively early age, and took little interest in the business. Both brothers were natives of Campsie, their father being a farmer at Newmiln, about a mile from the village. James left home when about twelve or thirteen years of age. to push his fortune in Glasgow. On the day he left his father’s roof, his mother gave him his shoes in his hand, with sixpence rolled in a handkerchief, and off he went, wading through the Glazart, a burn that passed his father’s farm. After walking some distance he sat down to put on his shoes, and said to himself, that if he could not manage to buy a new pair of shoes he would never return to Campsie. He got an engagement as an apprentice to a hosier, whose shop was behind the Tolbooth, in High-street, and proved a very apt apprentice. After finishing his apprenticeship he commenced to ship goods to America, and was extremely successful, one of his earliest ventures, we are informed, being a large shipment of braces which yielded him a handsome profit. He was the founder of the Glasgow Bank, which commenced business in a very humble way, in North Albion-street, in a small flat, up one stair. There were only six or eight partners in the bank. Mr. Dennistoun’s career as a banker was a very success ful one. He was liberal in his dealings, and we are informed that he was par ticularly kind to inhabitants of his native village when applied to by them for pecuniary accommodation. His business as a merchant in the American trade increased with great rapidity, and has been largely developed by his sons, John and Alexander, now the principal partners of the firm. During the last few years they have done a large business with Australia. The American panic combined with the failure of the Liverpool Borough Bank, in which they were large shareholders, caused the firm in November, 1857, to suspend payment. Their liabilities amount to nearly three millions, but the creditors unanimously agreed to accept payment in instalments, to be spread over the next three years. Mercantile Miscellanies. 393 THE FISHERIES IN THE GULF OF ST. LAWRENCE. A report, laid before the last session of the Canadian Legislature, of a cruise in the Gulf of St. Lawrence, during the fishery season of 1856, by the govern ment schooner La Canadienne, under the command of Captain Fortin, contains the following items of general interest:— “ The fisheries of the Gulf are, whale, cod, seal, herring, salmon, mackerel, salmon trout, shad, and halibut. Lobsters are plentiful, but there is no demand for export. The annual value of these fisheries on the coast of Gaspe. and at the Magdalen Islands, is nearly £150,000. A large number of American vessels are employed in the trade, and these are said to be admirably adapted for the purpose— much more so than Canadian vessels. The coasts of Anticosta abound with fish, but owing to the absence of good roadsteads and secure anchorage, seamen keep the island at a good distance. There are no fishing stations on it. “ The mackerel fishery has been greatly neglected by Canadians; but, it ap pears that more attention is to be given to it for the future. This fishery needs a class of very fast-sailing vessels. The Labrador herring is stated to be very fine fish, large quantities of which are annually exported. Whilst the Canadienne was at Blanc Sablons Bay, an establishment there was shipping 1,000 barrels for Jersey. Captain Fortin points out the value of the herring fishery, and ex presses surprise that Quebec merchants do not enter upon it. The fishery itself would be more valuable than the coasting trade, whilst a good business could be done with the inhabitants of the coast, in foreign or Canadian products. In 1856, seven schooners from Nova Scotia received in barter for produce fish, oils, furs, and sealskins, to the value of £22,000. “ In the whale fishery eight schooners are engaged, having an aggregate tonnage of 455 tons. Most of these vessels are fitted out at the establishment of Mr. LeBoutillier, at Perce. The fishing season commences early in June. The prin cipal species of whale caught, are the black, the humpback, the sulpher bottom, and the finback. The former of these, and the most valuable, is very scarce. The humpback yields from 10 to 80 barrels of oil. The others are of compara tively little value. The number of whales has perceptibly diminished within a few years, and it is thought that they will ultimately disappear altogether, as the walrus has disappeared. It is stated that, 80 or 100 years ago, this animal swarmed in immense herds on the Magdalen Islands, and in the Bay of Chaleur. “ The fishing establishments of Robin & Co. and LeBoutillier & Bros., are the most extensive in the Gulf, employing about 500 men. These firms ship great quantities offish to Brazil, Spain, and Italy. The vessels employed in this trade are topsail schooners, brigantines, brigs, and a few barks from 100 to 400 tons. They sail usually in October, November, and December. Iu the winter they generally find freight to a Mediterranean or British port, and in April they pro ceed to Cadiz or Liverpool for salt, and return to the St. Lawrence in May. “ Some years ago a mining and fishing company was formed, which held 173,000 acres of land. Large and magnificent buildings for fishing purposes were erected, and about 500 men were employed for fishing and lumbering; but the company soon closed up. However, it holds the lands, and refuses to sell 50 or 100 acre lots or else ask such an enormous price for them, that no one can buy—another instance of the wrong done to the country by grants of land to speculators. “ The Canadienne cruised in the Gull 158 days, and sailed about 6,000 miles. The report shows that her services were needed, and the results, in the protecting of our fisheries, in the maintainance of order and peace in the Gulf, and in her opportune service rendered to distressed or wrecked marines, are highly satis factory.” THE GROCER AND HIS APPRENTICE. “ Well, Augustus, you have been apprentice now three months, and have seen the several departments of our trade—1 wish to give you a choice of occupation.” Apprentice—“ Thank’ee.” Grocer— “ Well, now, what part of the business do you like best ?” Augustus [with a sharpness beyond Ins years)—“ Shuttin’ up, sir 1” 394 Mercantile Miscellanies. BRIEF OBITUARY OF A BOSTON MERCHANT. The Boston Daily Advertiser, of September 12th, 1857, recorded the death of H e n d e r so n I nches , which took place on Wednesday, the 9th of September. Mr. Inches was born in Boston on the 7th of February, 1774, and had conse quently attained to the advanced age of 83 years. He graduated at Harvard College in 1792, and was the last survivor of his class. He was for many years favorably known as an honorable, intelligent, and upright merchant in Boston, but retired from active business several years since, with an ample fortune. He was highly respected, and his death was deeply regretted not only by his family, but by the community of which he was so long an honored and respected member. SHORT CREDITS RECOMMENDED. We condense from the Providence Journal the following suggestions on re ducing the existing system of long credits on domestic goods, and remark that the principle of short credits may be profitably adopted in all branches of trade. The Journal says :— “ There is hardly any reform so loudly demanded, and its necessity so generally agreed to, as the reduction of credits on domestic goods. The nominal credit of eight months is sufficient to ruin any business, while the credits in other depart ments of trade are six months and four months. Any business which laps over its credits, granting a new one before the old one is settled, takes a double risk, stimulates an unhealthy demand, and, in the final settlement, accepts the leavings of others. But while the nominal credit is thus ruinous, the real credit is even worse, being often nine, ten, and sometimes over twelve months. It is not strange that, under such a system of credits, so many commissioned houses have failed, and the others have been crowding the banks for renewals, their own means be ing absorbed in the indulgence which they are obliged to extend to their cus tomers, to whom they have sold on such long time. We are indebted to a manu facturing house in Providence for the following memorandum of the actual sales of a desirable article of bleached goods for the three months ending September 30th, 1857 :—50 packages sold on eight months’ credit; forty on nine months ; eleven on ten months ; seventy-nine on average of eight-and-a-half months ; and sixty-six on average of nine-and-a-half months, making the total of 246 packages, sold on the total average of very near nine months’ credit. This was the result of the sale of bleached goods. Fancy goods, such as prints and other colored fabrics, are sold on longer credits. Prints were sold in the summer of 1857, in large lines, on eighteen months’ credit. An extensive manu facturer of heavy brown and colored goods, reports that he had nearly one thousand packages sold by one commission house in New York, for the quarter ending October 1, 1857, and the principal partner acknowledged to him that two-thirds of them were sold on ten months’ credit, and the sales were rendered at eight months, they losing the difference in time from their commissions. With these facts, and many more of the same tenor, before us, is there any wonder that the commission houses, as a class, are broken down, and the pressure for renewals from nearly all of them is so strong ? The same thing must occur again, if the same course is continued of these extended credits. All other departments of trade are shortening their credits ; groceries and provisions are sold mostly for cash, and never on a longer credit than four months ; the hardware dealers have reduced their terms from six months to four months; all the supplies for our mills are either for cash or credit; cotton and wool are sold in all the markets at the South and New York for cash ; why should we continue to- sell the articles when manufactured, on eight months’ or ten months’ credit, and thus furnish capital for purchasers to pay their debts to those who sell on the short credit, and leave the manufacturers and dealers in dry goods to take what may be left after the others are paid ? Mercantile Miscellanies. 395 The auction houses sell dry goods of all kinds on six months, and the wisdom of this course has been very conspicuous, as the large sales made January and February, 1857, falling due in July and August, where punctually paid for, whereas the sales to the same purchasers by the commission houses, on eight months’ and nine months’ credit, and falling due in the last few weeks, were not paid, and had to be extended or compromised. If the goods were sold on six months, each season’s purchases would be settled for before the commencement of the next season’s sales, and as the same parties are buying from year to year they would owe the commission houses but one-half what they now do.” - SYSTEM OF SELLING GOODS AT MANCHESTER, The following extract from a recent letter from Manchester, England, describes the system adopted by the great manufacturing establishments of that city in selling their goods, and in receiving payment. It shows that the principle of selling for cash or short credits is one of the elements of the prosperity of Manchester :— “ The general system upon which goods are sold here is for cash—that is, all accounts are paid on a particular day of each month fixed by the different houses. For instance, Mr. P------ pays all accounts the last Friday in each month, by a check on his bankers, and deducts 1| per cent discount. On the same principle, all manufactured goods and yams are sold. Some houses prefer to pay cash immediately on presenting the account, and then deduct one month’s interest and per cent. Some manufacturers sell their own cloth at their offices, others employ an agent, and pay 1 per cent for selling. Very few printers or manufacturers consign goods. The few who do so are wealthy men, and have houses abroad, and do business both in imports and exports. I should think that more than 90 per cent of the business is done on the system of cash pay ment. The American agency houses here buy their goods on the terms which I have named, and settle as they may with the New York importers. But few, if any, of our printers send goods on consignment. This has been done by the Scotch and Liverpool houses, and the result is now apparent. The banks have encouraged this business, and the present loss and distress are the result. Here in Manchester, as the rule, all goods bought up to the 24th of this month are duo the last Friday of next month, and are paid by a check less 1£ per cent. This is called cash payments. If a banker’s bill at three months was offered, it would not be taken. This system has, during the present crisis, (1857,) saved Manchester from many heavy losses.” THE FARINA COLOGNE OF COMMERCE. A suit was recently brought in one of the English Courts, by the celebrated Johann Maria Farina to prevent the vending of imitations of his labels, to be affixed to spurious Eau de Cologne, in the course of which the following details of the establishment, and celebrity of the family of Farina, the inventors of Cologne water, were brought ou t:— “ In 1709, Johann Maria Farina, a lineal ancestor of the plaintiff, established himself at Cologne as a vender of Italian wares and perfumery. He came from Lombardy, and his place of business was on the same site as that of the house in which plaintiff now dwelt, viz., in the Julichs-platz, in the city of Cologne. A t that time he invented the article now called Eau de Cologne, and connected with his name throughout Europe and the world. The invention was committed to writing in cypher, and from that day to this the secret, the trade, and the premises have remained in succeeding generations of the family, and they were now vested in the plaintiff. In 1832, the business belonged to Johann Maria Farina, the plaintiff’s cousin, and Charles Antony Gerald Farina, the plaintiff’s father, and at that period the plaintiff, although assisting in the business, had no 396 Mercantile Miscellanies. interest in it, and had not been made acquainted with the secret. In that year, in consequence of the number of imitators who wished to appropriate to themselves some of the benefit of the invention, the plaintiff's father adopted a trade-mark as a check against them, consisting of his own signature, ‘ Johann Maria Farina,’ with a peculiar flourish beneath, a description of the position of his house— ‘ gegen uber dem Julichs-platz’—a Prussian eagle in the corner, and some other matters of drawing with which the public eye was familiar. This label had been affixed to every bottle of Eau de Cologne which had been sold from 1832 up to the present time, and the plaintiff would tell them that he sold about half a million of bottles per annum. He had been appointed purveyor of the article to his Majesty the King of Prussia, and to most of the crowned heads of Europe, and he had obtained a prize medal for it at the Great Exhibition of 1851. The plaintiff, Johann Maria Farina, was the first witness called. In cross-examination he said there were about thirty Farinas carrying on the trade of Eau de Cologne manufacturers at Cologne. There were twenty-one of the name of Johann Farina. A Johann Farina carried on business in the Julichs-platz. Up to 1832 he (the plaintiff) used no labels. None of the manufacturers at Cologne used labels exactly like his. He exported about 200,000 bottles to England annually.” A WATER-TIGHT SAFE FOR CARRYING SPECIE IN SHIPS. A correspondent of the Scientific American suggests that all ships carrying specie or treasure, in any shape or form, should be provided with a water-tight safe, in which all valuables should be put. This safe ought to be made of boiler iron, globed-shaped, well painted, and lined inside for six inches with cork, and having a lining of thinner iron inside the cork if requisite ; a small water-tight door would be all the entrance required, and the safe could be made of any size. By means of two handles it should be tied to the deck, and might have the ship’s name embossed upon it, so that in case of wreck or a catastrophe like that of the Central America, it would only be necessary to loosen the safe, and it would float away and be picked up by the crew of some vessel, who might return it to its proper owners. A BUSINESS-LIKE VIEW OF THE SLAVE TRADE. The Charleston Courier says that “ the reason why slaves are not imported into the United States from Africa, is not because such importation is prohibited by an act of Congress, but because the planters of the South do not demand it. A cargo of slaves could not be sold in Charleston if they were brought there. But if the people of the South should offer the money for the negroes, the Northern shipowners wonld take the risk and bring them in spite of the law, just as they now, in defiance of the cruisers and of the laws of her most Christian and Catholic Majesty, are landed on the coast of Cuba. In other words, it is the public senti ment of the South, and not the philanthropy of the North, which forbids the introduction of foreign slave-labor.” RECOVERY OF STOLEN MONEY IN CANADA. We learn from the Toronto Leader that some six months ago a bank robbery to the amount of §100,000 in notes and gold was committed in one of the British Provinces. The directors thought it the most prudent course to keep the matter quiet. They, therefore, sent to Buffalo, New York, for a detective officer, who want quietly to work, and ultimately succeeded in tracing the crime to some of the criminals engaged in the act. By this process nearly the whole of the money was recovered, and paid over to the owners. The Book Trade. 397 THE BOOK TRADE. 1.— The Hasheesh Eater, being Passages from the Life of a Pythagorean. 12mo., pp. 371. New York : Harper & Brothers. The Hasheesh Eater writes with such fluency and force, and often with such curious felicity of style, (seldom the gift of art,) that the reader feels a natural curiosity to know who the Pythagorean is. We have thought a clue might be found in three striking sketches published in Putnam’s Monthly, one in April, 1854, the second in September, and the third in December, 1856, in which were vividly set forth the strange effects of that strange plant the Cannabis Indica. The second article was also entitled “ The Hasheesh Eater,” but our author men tions it as the work of another. In the Yision of Hasheesh, however, published in Putnam, in April, 1844, the writer attributes the strange vein of the super natural running through the Arabian Nights to the use of Hasheesh. Our author claims, with proper modesty, the discovery of this secret as his own. Perhaps, then, the Seer of the Vision and our Pythagorean are one. The book has qualities which need not hide behind an assumed name. It professes to nar rate the experience of a young man who, like De Quincy, is tempted to have re course to artificial stimulus, not like him to relieve paiD, but out of curiosity, and making use of hemp instead of opium. Many wild scenes and visions are described in a somewhat arabesque strain. We are reminded by turns of Southey, Coleridge, and the Arabian Nights, but not of De Quincey. Two pages are enough to show that the fear of the charge of plagiarism or imitation here, which the author expresses, is uncalled for. The book hardly belongs to the tribe of “ confessions,” which whole genus, St. Augustine, Rousseau, and De Quincy, in clusive, seems to us sickly and disagreeable to a degree. The best and largest part of the book is not the narrative but the criticisms upon literature and life, on -Locke and Coleridge, interspersed. What we least like about our Hasheesh Eater is the hasheesh. 2. — Ocean Steam Navigation and the Ocean Post. pp. 224. New York : D. Appleton & Co. By T homas R ainey. 8vo., This volume is devoted to the subject of steam navigation. We have not time or space in this notice to present an elaborate analysis of its contents. The work is divided into ten sections; the first treats of the present position of steam navigation ; the second, of the necessity of rapid steam mails ; the third, of the capabilities of ocean steam ; the fourth, of the cost of steam and ocean mail speed ; the fifth, of ocean mail steamers in regard to their attempts to live on their own receipts ; the sixth, of how mail speed can be obtained ; the seventh points out the duty of the government to the people ; the eighth shows how the government may discharge its duty in this matter ; the ninth gives an account of the British system and its results ; and the tenth and last section is devoted to a consideration of the mail lines of the United States. 3. — Athanasia; or, Foregleams of Immortality. By E dmund H. S ears. Bos ton : American Unitarian Association. This is not a book of any ism, but of a catholic, suggestive, and original mind. Hardly a chapter of its three parts—Immortality, the Excarnation of the Son of Man, the Pneumatology of Paul—but invites discussion and inspires meditation. A s far as the book tends to any denominational stand-point it is Svvedenborgian; but it is prominently spiritual, generous, cheerful, invigorating, and comprehensive. All its admirers ask is that it should have a fair hearing, on this most interesting theme; and its vigor, beauty, and liberality will even tually make way for it in the theological world. 398 The Book Trade. 4. — Debt and Credit. Translated from the German of G u stat F r e it a g . By L. C. C. With a preface by C h e v a l ie r C. J. B unsen , D.D., D.C.L., etc. 12mo., pp. 564. New York : Harper & Brothers. This translation of the most successful novel of the day in Germany, which has run through six editions there since its appearance in 1855, is faithful and spirited, and reads like an original, which latter quality we deem the very first in a translation for popular reading. The story has been condensed in the process of transfer into English, and thereby gains, we think, in rapidity and energy, for there is a tendency to perplexity in German novel writers which is a little wearying. The story has a political bearing and a social meaning. It illustrates the changes going on in Germany in the relative position of the old privileged classes and the rising mercantile middle class, which rises as the other sinks, and necessitates a re-adjustment of the social scale. The story of the hero’s fortune, as clerk and merchant, are told with much effect; there are lively pictures of German society, stirring incidents of the war in Poland, passages of genuine humor, and delineations of the darker side of human nature of great power and truth. In the interesting preface, by Chevalier Bunsen, he states that the work has taken such a hold of the hearts of men in the educated middle classes that hundreds of fathers, in the highest industrial ranks, present it to their sons at the outset of their career as a work of national interest, a testimony to their future social position and their faith in the future that aivaits it. 5. — The Golden Age of American Oratory. By E dward G. P arker. pp. 425. Boston; Whittemore, Niles & Hall. 12mo., By the golden age of American oratory, Mr. Parker means the period since the Revolution; and under the heads o f Oratory, of Congress, of the Bar, and of the Platform, he gives spirited and appreciative analyses of the eloquence of Clay, Webster, Ames, Pinckney, Choate, Everett, E. H. Chapin, H. W . Beecher, and Wendell Phillips. The spirited essay upon Choate’s qualities as an advo cate attracted attention some time since in Putnam’s Magazine, and the entire work is written in the same animated vein. Mr. Parker’s criticisms and conclu sions deserve additional weight from the fact that he has frequently listened to all the speakers he notices, except Ames and Pinckney; and with the exception of the latter and Clay, he confines himself to the orators of New England. In cidental allusions are made to Hoffman, Wirt, and a few others, and he confesses that there are other great names in our country behind these—but none greater. 6. —A Physiological Cook Book. Boston: Ticknor & Fields. By Mrs. H orace M ann . 16mo., pp. 189. Some score or more of cook-books and housekeeper’s manuals have been published within the last ten years, and the number is constantly augmenting. Most of the lady novelists and writers, including Mrs. Hale, Mrs. Eliett, Mrs. Childs, &c., have published their “ cook-books,” and now we have another from Mrs. Horace Mann, the object of which is to show how healthful and nutritious, and even luscious, food can be prepared without injurious ingredients. She re gards the pleasures o f the appetite as legitimate. Her motto— “ Christianity is the Kitchen”— may give some idea of the character o f the volume. It is a small, neat, compact volume, and better adapted to the wants of a large class of housewives than some volumes of larger dimensions. 7. — The Harp and the Cross: a Collection of Religious Poqtry. G. B u lfin ch . Boston: American Unitarian Association. By Rev. S. From a familiar use o f similar collections, we pronounce this latest of all the best. The classification of topics is excellent. Many new’ pieces are given. The part sixth, on Penitence, is the richest in tone. The only error is, the selection is too exclusively modern and recent. Not half enough o f Bryant is given, and but one piece from Wordsworth; but the “ Burial of Moses” is worth the price o f the book. The Book Trade. 399 8. — Biography of Elisha Kent Kane. Philadelphia : Childs & Peterson. By W illiam E lder . 8vo., pp. 416. New York : Sheldon, Blakeman & Co. No one of the many sympathizing and admiring readers who followed the heroic Kane through his Arctic perils and triumphs, as told in the pages of his own matchless narrative, written precisely as one who could do such things might be expected to write of what he did, can read without the deepest interest this memoir, which completes a biography of which the “ Arctic Explorations” may be considered as so many chapters. For Kane was the life and soul of the Arctic expedition of 1852. Upon him, his foresight, wise management, dogged endurance, and heroic daring, hung the lives of his men and the chances of the enterprise. Dr. Elder has furnished a memoir worthy of his subject, worthy a place beside the volume of Kane’s beautiful narrative. The thirty thousand subscribers for the work will, we think, be entirely satisfied with the fullness and fidelity, the freedom from exaggeration, and yet warm and loviDg appreciation with which Dr. Elder gives the event of Kane’s career, his parentage, early educa tion, experience as a surgeon in the navy, residence in China, travel in Africa and Europe, adventure during the Mexican war, in short, all the fortunes of the great traveler and explorer, precious to their culmination in the Arctic voyages. 9. — Edna; or, an Antique Tale. By E mma C arra . 12mo., pp. 348. Boston: James French & Co. A story of New England domestic life, in which the reader is cautioned against expecting to be led into homes of showy luxuries. Such did not exist during the time and scenes this story is supposed to represent. New England respect ability did not then depend on the gloss of a coat or the amount o f stock in bank. As a woman’s delineation of character, it has largely to do with the affections, and it depicts “ home” without velvet and tapestry. 10. — Chanticleer: a Thanksgiving Story; or, the Peabody Family. By C orne l iu s M a t t h e w s . With Illustrations. 18mo., pp. 130. New Y ork: Wm. S. Matthews. This, the first of a series of illuminated classics, was originally published sev eral years since. It was well received at the time. Mr. Matthews has lost none of his vigor or his wit, and those who may not have read “ Chanticleer,” will find it deserving “ a place beside Rasselas and the Vicar of Wakefield,” the first two stories of our early reading. 11. -— Waverley Novels. Household Edition. The Abbot. Boston : Ticknor & Fields. We have called attention from time to time, as the volumes have appeared, to this edition, at once elegant and substantial, of Scott’s Novels. Never before in this country has the genius of Scott received such ample and fitting typograph ical honors as in this edition of the novels, and in Little & Brown’s edition of the poems, and we have the same commendation, for like excellences, to bestow on both. 12. — The Poetical Works of Sir Walter Scott. With a Memoir of the Author. In nine volumes. 16mo. Boston : Little, Brown & Co. Had we a printing press of our own, like Horace Walpole, at Strawberry Hill, and should we set about getting up an edition of Scott, which should fully come up to our ideal of a fireside and library edition of his poems, we hardly think it would differ in any particular from the one just published in Boston. Here is portableness, white, strong paper, clear type, and ample annotation, in cluding the “ various readings,” and extracts from leading criticisms. The edition includes ail the minor poems and the translations from the German. The Minstrelsy of the Scottish Border does not properly belong to a collection of Scott’s original poems, but an edition of it. uniform with this, would be highly acceptable. As it is, we are now prepared to say that Scott has been worthily edited in America. 400 The Boole Trade. 13. — Twin Roses. A Narrative. By A nna Cora R it c h ie , Author of “ Auto biography of an Actress,” “ Mimic Life,” “ Armand,” etc. 12mo., pp. 273. Boston : Ticknor & Fields. Mrs. Mowatt’s Autobiography was written with such frank simplicity, that it was widely read and admired. In this tale, the life of an actress is made the sub ject of attractive fiction. A young friend, whose enthusiasm guaranties her sincerity, pronounces the story charming, and we can, therefore, confidently re commend it to our readers. Much attention has been recently attracted to the drama, and this story illustrates in some of its aspects the life of the stage. 14. — The Poetical Works of James Russell Lowell. Boston : Ticknor & Fields. Complete in two volumes. Mr. Lowell receives in this edition the honors of “ blue and gold,” which Messrs. Ticknor and Fields are bestowing fitly upon the worthiest of English and American contemporary poets. The volumes possess all the higher excellences of this series, which render them generally and deservedly popular. We find all our old favorites in this edition ; such verses as the “ Incident in a Kailroad Car,” and one or two of the “ Biglow Papers,” stamp Lowell a true poet, and an American one too. 15. — Abridgment of the Maritime Law; Comprising General and Particular Average, Adjustment, Abandonment, Bottomry, Collision, and Salvage. To which is added the General Duties oi Masters and Owners, with a copious Appendix, containing several Useful and Legally Approved Forms. By B D ixon, Notary Public, Average-Adjuster, and Insurance Broker, Norfolk, Va. 8vo. Norfolk : J. D. Ghiselin, Jr. New York : Charles T. Evans. This book seems to possess all the elements of mercantile law on the subjects indicated in the title-page, which we have quoted in full, and so far as the law of insurance is concerned we have never met with a better or more comprehensive manual. The work embraces the whole subject of insurance, and covers, it seems to us, the whole ground. 16. — The American Almanac, and Repository of Useful Knowledge for the Year 1858. l2mo., pp. 376. Boston : Crosby, Nichols & Co. This almanac comes to us prepared with its usual fidelity. Its astronomical department, under the superintendence of Mr. George P. Bond, assistant of the observatory at Cambridge, is well, done, although by no means in advance of the learned labors of Mr. Paine, who conducted that department in the early years of its existence. We have ever regarded Mr. P. as one of the first astronomers on our continent, and we regret that he did not continue the superintendance of that department of a most valuable work. 17. — The Plant Hunters, or, Adventures among the Himalaya Mountains. By Captain Maynk R eid , Author of “ the Desert Home,” “ the Young Yagers,” etc., etc. With Illustrations. 16mo., pp. 353. Boston : Ticknor & Fields. Captain Reid has written more interesting stories for boys than any other living author. “ The Plant Hunters ” is equal to any of the former produc tions of his prolific pen. , 18. — The Spanish Conquest in America; and its Relation to the History of Slavery and to the Government of Colonies. By A rthur H elps. Yol. iii. 12mo.. pp. 532. New York : Harper & Brothers. The two previous volumes of this work were noticed in our Magazine some time ago, that is, on their appearance. This volume, which was originally published in London last year, completes the series. It has “ books ” on the “ Administra tion of Cortes,”- and the “ Conquest of Peru.” It is not only an interesting, but very instructive volume.
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