The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
H U N T ’S
MERCHANTS’ MAGAZINE.
M A Y ,
1842.
Art. I.— C O M M E R C IA L V O Y A G E S A N D D IS C O V E R IE S .— No. I.
INTRODUCTION.
W e hardly realize, in the present day, the immense debt that civiliza
tion owes to the spirit o f commercial enterprise. W hile we acknowledge
the high claims o f commerce to the consideration o f mankind, we look
upon her rather as the offspring and attendant o f progressive humanity
than, as she is, the parent o f much o f our refinement; the chief aid o f reli
gion, the instructor o f man in the arts o f life, and the sole means by which
he has attained a knowledge o f the world which he inhabits. T o arrive
at a proper estimate o f the influence which the spirit o f commerce has had
in moulding the fortunes o f the world to their present condition, we must
look back a few hundred years to what may be considered comparatively
the infancy o f refinement and science. N ow almost every department o f
human knowledge has attained a degree o f strength which renders it inde
pendent o f any adventitious support. Truth is eagerly pursued through
every branch o f physical or moral science for its own sake, and the pur
suit would be continued though many o f the most important interests o f
society were totally destroyed. But a few centuries since the case was
very different. Then society lay bound in the chains o f bigotry and pre
judice. Custom, that foe to all improvement, reigned supreme, restrain
ing curiosity, cramping men’ s energies, and bowing their minds in willing
submission to the social and political, as w ell as religious, superstitions o f
what are justly called the dark ages. It needed some power to arouse
society from this mental lethargy, or rather to divert into new and wider
channels the intelligence which was frittering itself away in the circles o f
imperious routine. This power was found in the desire o f gain, develop
ing itself in the form o f commercial enterprise. It came with irresistible
force, scattering before it the prejudices o f the age, piercing, as with the
beams o f the morning, the thick darkness o f ignorance, dazzling men’s minds
with its brilliant discoveries, and stirring up from their profoundest depths
the moral and intellectual energies o f our nature. Expansion o f intellect
was the natural result o f the expansion o f commerce. The barriers o f
knowledge were broken down, and a stimulus given to thought, which
made the fifteenth century as well the era o f the regeneration o f the old
VOL.
vi.— n o . v.
42
394
Commercial Voyages and Discoveries.
world as o f the discovery o f the new. The Azores, Madeira, the Canaries,
the Cape de Verd Islands, the coast o f Guinea, the W est Indies, and last,
but not least, the passage to the East Indies round the Cape o f Good Hope,
successively broke upon the dazzled imaginations o f Europe with a force
that no prejudice, no ignorance, no superstition could withstand.
And all this was accomplished by the single spirit o f commercial enter
prise. In those days there were no exclusively exploring squadrons, no
scientific missions, no voyages purely for the purpose o f discovery.
Trade was the grand object. The merchant went ahead and pointed out
the path to the soldier and the priest. Without his guidance it is possible
that until the present day the sword o f the one had not waved, or the cross
o f the other had not been planted, in one half o f the now christianized
world. The voyage o f Columbus is no exception. He himself was no
mere m erchant: he had other and nobler objects, better befitting the en
thusiastic aspirations o f his lofty genius ; but the expedition which he con
ducted to such a glorious issue had for its foundation the desire to rival
the Venetians in the trade o f that mysterious Cathay from whence vast
floods o f wealth were flowing into the city o f the isles.
In addition to the importance attached to many trading voyages, from the
magnificent results o f which they were directly or indirectly productive,
they are frequently intensely interesting from the circumstances under
which they were prosecuted, the characters o f the voyagers, and the ad
ventures through which they passed. Unfortunately, they have multiplied
to such an extent, and fill such voluminous collections, that very few
have time or opportunity to become, in the slightest degree, acquainted
with them. A vast number too, it must be confessed, are so meager in
their details, or incorrect and mendacious in their narratives, or prosy and
stupid in their style, that they would not repay the general reader the labor
o f perusal. There are enough, however, i f they were properly selected
and condensed, to make several most entertaining and instructive volum es;
and in the absence o f such a work, we have thought that it would not
prove uninteresting to the readers o f this magazine to have offered to them
such brief abstracts o f the principal voyages as our limits w ill permit. In
doing so, we shall o f course condense the narratives as much as possible ;
and shall, where it is convenient or useful, accompany the remarks o f the
voyager with geographical, historical, and commercial observations, illus
trative o f the present condition o f the countries described. It is fortunate
for our purpose that several voluminous collections o f the earlier voyages
and travels were formerly made, by which many manuscripts were pub
lished, which would otherwise never have seen the light, and from which
many translations o f curious foreign narratives were made. Almost every
language o f Europe has these collection s; as for instance, Ramusio in
Italian, Thevenot in French. But no nation is richer in this particular
than the English. The principal and best known are H ackluyt’s collec
tion, in three volumes, folio, the second edition o f which was published in
1599 ; Purchas, in four volumes folio, exclusive o f his Pilgrimage, pub
lished in 1625; Harris, in two volumes, 1705; Churchill’s six large folios,
and Astley’s four large quartos, published in 1745. Numerous other collec
tions, both large and small, exist, but we are not aware o f any very compre
hensive one o f a later date. In fact, within the last hundred years, the num- '
ber o f such works has increased to such an extent as to render the. publica
tion o f them in any saleable sized work perfectly impossible. Th ey issue
Commercial Voyages and Discoveries.
395
from the press in one continuous stream, pass for a moment under the
public eye, and then are forgotten. The travels o f yesterday, i f not anti
quated in the taste o f the public, are at least pushed from the reading
world by their rivals o f to-day ; and their resurrection in the good old
folio and quarto dresses is a process that none o f our modern publishers
would be very likely to assist.
C H A P T E R I.
First attempt o f Don Henry to reach the coast o f Guinea.— Discovery o f Madeira by
Gonsalvo Zarco.— Passage o f the famous Cape Bojadors by Gilienas,— Progress of the
Portuguese trade and discovery along the coasts o f Guinea to the Cape o f Good Hope.
W e shall commence our proposed digest with a brief summary o f the
early voyages o f the Portuguese to the coast o f Africa, which began in the
first part o f the fifteenth century, and were prosecuted with much perse
verance for several years without having attracted the attention or excited
the emulation o f neighboring nations; but which at length resulted in the
brilliant discovery o f the passage to India round the Cape o f Good Hope.
O f the state and course o f trade with the east, which was almost exclu
sively in the hands o f the Venetians and Genoese previous to this event,
it is needless here to speak, as the subject has been fully treated in an
able and interesting article in the last number o f this magazine, entitled,
“ Mediterranean Commerce with In d ia ;” suffice it to say, that the disco
veries o f the Portuguese created an entire revolution in commerce, and
may be justly regarded as equal to, at least in their immediate effects, the
more famous exploits o f their Spanish rivals.
Full accounts o f the early voyages o f the Portuguese are to be found in
a number o f voluminous writers. The principal o f these are, Juan de
Barros, an abridgment o f whose large work was made by Maffi, Fernan
Lopez de Castanneda and Manoel de Faria y Sousa. The “ History o f
the D iscovery and Conquest o f the East Indies” o f Castanneda, pub
lished in 1555, has reached a number o f editions in Portugal, and has
been translated into French and English. The A sia Portugueza o f Sousa,
first published in three large folios in 1666, at Lisbon, has also been fre
quently republished, and has been translated into Italian, French, and
English. It is to these that all collectors o f voyages are chiefly indebted
for their materials for the Portuguese matter o f their works ; and it is
abstracts from them that we shall follow in the following summary o f the
Portuguese efforts previous to the passage o f the Cape.
The ch ief originator and encourager o f voyages to the Atlantic coast o f
Africa was the gallant Infant Don Henry, son o f John I. In the year
1415 he accompanied his father in an expedition against the Moors o f
Morocco. The Portuguese force consisted o f thirty-three ships o f war,
and one hundred and twenty transports, carrying fifty thousand men.
Leaving Largos bay they directed their course for the straits, and arrived
on the 21st o f August before Ceuta, a town (now belonging to Spain) situ
ated directly opposite to Gibraltar, and at the foot o f one o f the celebrated
Pillars o f Hercules, in ancient days named Mount Abyla, now better
known by the vulgar title o f Apes’ H ill. The greatest preparations had
been made by the Moorish governor, Sala Bensala, for a vigorous defence,
but the attack was made with such fury and gallantry by the young
prince, that the Moors were compelled to give way and retire to the castle.
396
Commercial Voyages and Discoveries.
T he king ordered the castle to be assaulted, and Bensala finding it unten
able, retired at night and left it to the Portuguese. Thus, after much blood
shed, the town was taken, which, well fortified towards the land side, has
ever since resisted the repeated attempts o f the kings o f M orocco and Fas.
The Infant Don Henry, who at this time was but twenty-one years o f age,
was o f an enthusiastic and inquiring spirit. H is imagination soon be
came thoroughly excited by the glowing Moorish accounts o f the countries
beyond the great desert, and o f the rich trade that was carried on between
the cities o f Morocco and the great mart o f Negroland— the famous Tim buctoo. It is also probable that he acquired something o f a definite idea
o f the shape o f the African coast and o f the islands which lie near it, as it
is asserted that he consulted with many Moors who had crossed the desert
and visited the Assenhaji, the Jalofs, and other nations o f Guinea.
Returning to Portugal, the Infant resolved to put on foot an expedition
that should solve the geographical questions that interested him, and per
haps open a new and lucrative trade with the inhabitants o f those myste
rious regions. Fixing his residence at the town o f Ternacable, upon the
sea coast, in the province o f Algarve, he gave orders for fitting out two ships.
The first attempts did not, however, amount to much. T h ey reached only
as far as Cape Bojador, a point which may be considered the southern ex
tremity o f the coast o f Suse, a province o f M orocco, on the northern com
mencement o f the Saharah proper. The Spaniards had already reached
this Cape, but beyond it navigation was supposed to be impossible.
Alarmed by the current which sets with considerable force round this cele
brated point, the first Portuguese adventurers, like the Spaniards, gave up
the attempt in despair; but the prince, far from being discouraged by the
ill success o f his efforts, in 1418 sent Juan Gonzales Zarco and Tristan
Y a z Tiexiera, with orders to stand well out to sea, beyond the reach o f
the formidable current, and to boldly dare the imaginary dangers o f this
ne plus ultra o f Atlantic navigation.
Before reaching the coast o f Barbary, they encountered a severe storm,
which drove them in a westerly and southerly direction until they made
the little island o f Puerto Santo, or H oly Haven, lying but a short distance
from Madeira. Upon their return to Portugal, the prince was not a little
pleased with the discovery, and immediately despatched Gonzales and
Tristan back again to the island, accompanied by Bartholomew Perestrello,
with three ships loaded with seeds and live-stock.
In another voyage, in the year 1419, Gonzales discovered, or rather
re-discovered the island o f Madeira, which, as the story goes, was first
visited by an Englishman o f the name o f Machin. Francesco Alcaforado,
who accompanied Gonzales, in his history o f the voyage, an abstract o f
which is published in A stley’s collection, gives the following romantic, but
probably true, account o f the Englishman’s adventure.
In the reign o f King Edward the Third o f England, one Robert Machin,
a young gentleman o f genius and courage, falling in love with a young
lady o f a noble family, called Ann d’ Arfet, and, making his addresses to
her, soon won her affections from all his rivals. This, her parents observ
ing, and not brooking the thoughts o f any inferior alliance, in order to ef
fectually prevent it, procured a warrant from the king, and kept Robert
in custody until they got the young lady married to a certain nobleman,
(whose name Machin would never discover,) who, as soon as the ceremony
was over, took the young bride with him down to his seat at Bristol.
Commercial Voyages and Discoveries.
397
Thus, all being secured, our knight easily obtains his discharge ; but stung
with a high sense o f the injury, and at the same time goaded on by love,
he sat his wits to work, and engaging some o f his friends to assist him, he
carried them down after the new-married couple. The first thing to be
done was to get one o f them into the family, who, being taken in as groom,
had an opportunity o f acquainting the lady with her lover’s design, and
the measures he proposed to take, to all o f which she yielded a ready com
pliance. A ccordingly, when all things were prepared, she took a ride on
the day appointed, under pretence o f airing, (which, to prevent suspicion,
she had used some time before,) attended only by her groom, who brought
her to the channel side, where she was handed into a boat and carried on
board a ship that lay ready for the purpose.
A s soon as Machin had got his treasure on board, he, with his associates,
immediately set sail to get out o f the reach o f pursuit, intending for France ;
but being ignorant o f the sea, and the wind blowing a hard gale, they
missed their port, and the next morning saw themselves lost in the middle
o f the ocean. In this miserable condition they were tossed about at the
m ercy o f the waves, wandering without a pilot for thirteen days, at the
end o f which they chanced by break o f day to descry something very near
them that looked like land, which, as the sun rose, they could distinctly
discern to be such, being covered with trees to which they were entire
strangers. Th ey were not the less surprised with several unknown kinds
o f birds that came o ff the land and perched upon the masts and rigging
without the least signs o f fear.
A s soon as they could get out their long-boat, some o f them went to
search the coast, who returned with a good report o f the place, though un
inhabited ; whereupon our adventurer carried his mistress ashore, leaving
the rest to take care o f the ship. T h e country upon their landing appear
ed very agreeably diversified with hills and v a lle y s; the first thick shaded
with a variety o f unknown trees, and the latter enriched with cooling
rivulets o f fresh water. And here several wild beasts came about them,
but without offering any violence. Thus encouraged, they marched fur
ther into the land, and presently came to an opening like a roundish
meadow, encircled with a border o f laurels and watered by a small rivu
let, which in a bed o f fine sand run down from the mountains through it.
Here likewise upon an eminence they found a most beautiful tree, whose
shade inviting them, they concluded to take up their abode under it for a
while at least, and accordingly with boughs built themselves huts. In
this place they passed their time very agreeably, making further discoveries
o f the country, and admiring its strange productions. But their happiness
was o f short duration, for three days after it blew a storm at northeast,
which driving the ship from her anchor, threw her upon the coast o f
M orocco, where all the company were taken prisoners by the Moors and
sent to prison.
Next morning those on land missing the ship concluded she had found
ered. This new calamity drove them all to despair, and proved so
afflicting to the lady that she did not long survive it. The ill success at
the first setting out had sunk her spirits, and she continually fed her g rief
by sad presages o f the enterprise ending in some tragical catastrophe; but
the shock o f this last disaster struck her dumb, so that she never spoke
more till she expired, which happened three days afterward. This loss
being too great for our lover to survive, he died himself in five days, not42*
398
Commercial Voyages and Discoveries.
withstanding all his companions could do to comfort him, begging them
at his death to place his body in the same grave with hers, which they had
made at the foot o f an altar erected under that beautiful lofty tree before
mentioned. T h ey afterward set up a large wooden cross upon it, and
near that an inscription drawn up by Robert himself, which contained a
succinct account o f this whole adventure, and concluded with a prayer to
the Christians, i f any should ever come there to settle, to build a church
in that place to Jesus the Saviour.
Thus deprived o f their leader, the rest proposed to depart, and fitting
out the boat set sail, intending for E n g lan d ; but happening to take the
same route the others had been forced upon, arrived, unluckily for them,
at the same coast, and accordingly met with the same fate, and were car
ried to the same prison.
A n objection has been found to the truth o f this story, in the impossi
bility o f Don H enry becoming acquainted with the existence o f this island
in the w ay that Alcoforado states. He says that, confined in the jails o f
M orocco with Machines companions, was one John de Morales, an expe
rienced sailor, who from them became acquainted with the details o f Machin’s adventure. That having been ransomed with other Spanish pris
oners, the vessel in which he sailed was made a prize by Gonsalvo, who
was returning from his voyage to Porto Santo, which we have mentioned.
There being at that time some difficulty between the Spanish and Portu
guese governments, Morales was carried before Don Henry, and informed
him o f what he had heard from the companions. The difficulty in this
case is, that Machin’s adventure must have happened during the reign o f
Edward the Third, and between the years 1327 and 1378, and that Morales
must have been from forty-two to nearly one hundred years a prisoner.
Galvano in his chronicles o f Castile states that it was in 1344, which
would make Morales seventy-six years a prisoner. But we cannot see
that this objection is o f any force against the authenticity o f Alcoforado’s
statement. It is very possible for him to have been mistaken as to the
personal communion o f Morales with the companions o f Machin. The
information might have easily been preserved as a prison tradition. There
is no other reason to doubt the authenticity o f the narrative, and it is a
little curious how it could ever have been doubted from so small a circum
stance, when there is abundance o f confirmatory evidence, but which it is
unnecessary here to particularize.
The voyage for the discovery o f the island having been resolved upon,
Gonsalvo and Zarco set sail for Porto Santo. From the Portuguese whom
they had left there two years before, they heard horrible stories o f a thick
darkness that hung on the sea to the northeast, and extended up to the
heavens. It was stated never to diminish, and to be frequently accom
panied with loud and strange noises. B y some it was thought to be the
mouth o f h e ll; others, more learned or more bold, judged it to be the an
cient island o f Cipango, over which forever hung a mysterious veil, and
which was the abode o f Christians who had formerly been compelled to
fly from the tyranny o f the Moors.
After a good deal o f hesitation and debate, it was resolved by Gonsalvo,
who communicated his intention to no one but the courageous and sensible
Spaniard Morales, who declared that the cloud was a sure indication o f
the land the English had told him of, and that it arose from the moisture
occasioned by the thick woods which covered it, to set sail. H e did so early
Commercial Voyages and Discoveries.
399
in the morning, and crowded all sail in the direction o f the cloud, very
much to the alarm o f his timid and superstitious crew . Soon they heard
a great roaring, which so frightened them that they insisted upon turning
b a c k ; but Gonsalvo made them a speech, which, according to the Portu
guese chronicler, was composed o f such solid arguments that their fears
were allayed. Presently the cloud became less dense, and they could
perceive something through it. Their fears were again renewed by the
appearance o f vast giants, which fortunately turned out to be nothing but
rocks on the shore. Soon, to their great joy, land was distinctly discovered.
Rounding a small point, a vista up the mountain into the country opened
upon their view. A t this spot Morales and R uez Paes were sent to re
connoitre the coast, and observing a small bay, like that described by the
English, they landed, and soon found the cross and the tombs o f the lovers.
Gonsalvo took possession in the names o f King John and the Prince Don
Henry, o f the island, which from its being so thickly covered with wood,
was called Madeira. The name has remained, but the peculiarity which
gave rise to it, soon ceased to ex ist; for the first Portuguese settlers com
mencing to clear it by fire, the whole island was soon in flames, which
continued to burn for seven years, until the flourishing forests were totally
destroyed.
Encouraged by the discovery o f these two islands, which being unin
habited, were not at first o f much mercantile value, except in the article
o f seal-skins, with which they abounded, Don H enry resolved to prose
cute with new ardor, and despite the opposition arising from the fears and
prejudices o f the age, his long-cherished and more promising designs upon
the coast o f Guinea.
In 1432 the much-dreaded obstacle o f Cape Bojador was surmounted
by Gilianes, who was despatched by the prince in a single bark. This
fortunate event, which the chroniclers o f the day say was looked upon as
fully equal to any o f the labors o f H ercules, at once overturned the gen
eral belief that the cape was impassable, and that beyond it, it was in
tended by Providence that man should not venture. It began to be sup
posed that discoveries beyond it were possible ; and the prince obtained
from the Pope, Martin V ., a grant o f all lands discovered beyond this
cape to the East Indies, with full absolution for the souls o f all who should
perish in the undertaking.
Gilianes, in 1434, accompanied by Alonzo Baldaya in another vessel,
passed thirty-two leagues beyond the cape, and landing, discovered tracks
o f men and cattle. T h ey named the coast Angra de Ruyvos, from the
quantity o f fish. An appropriate name, i f we may judge from the quanti
ties o f very fine fish with which the whole o f the desert coast abounds at
the present day, and which gives employment to a great many fishing
vessels from the Canaries.* In 1435, twelve leagues further were reach
ed, and a landing made by two or three Portuguese, who, mounted upon
horses, directed their course into the interior. T h ey had not proceeded far,
* W e have sometimes wondered whether the enterprise o f our fishermen might not
be profitably extended as far as the coast o f the desert. The fish are undoubtedly much
more plenty than on our own banks, and o f a finer kind. The most important are a
splendid species o f cod, and the tassart, a very large kind o f mackerel.
Many places
could, it is probable, be found upon the uninhabited coast for drying fish, which could
be easily defended against all the Arabs o f the desert.
400
Commercial Voyages and Discoveries.
when they came across a kind o f cave containing a party o f sixteen natives,
armed with javelins; who flying, were pursued by the Portuguese and
several o f them wounded, as well as one Portuguese. This, observe the
Portuguese writers, was the first drop o f that ocean o f blood which flowed
in the track o f Christian discovery.
At this point were seen immense numbers o f seals, and in 1440 Anto
nio Gonzales was sent for a cargo o f their skins. Landing one night, he
advanced fifteen or sixteen miles into the country, and captured a man who
was driving a camel ; he also encountered a company o f forty Moors with
one woman, whom he seized after having put the men to flight. Another
ship from Portugal, under the command o f Nuno Tristan, having arrived,
they went ashore again, and attacking a party o f natives, killed three and
captured seven. Gonzales returned to Portugal with part o f the slaves,
but Tristan first coasted on as far as Cape Blanco, nearly three hundred
miles further, and then returned.
T w o years after, Gonzales returned, bringing with him several o f the
natives he had carried off. for whose ransom he received ten black slaves
and a quantity o f gold-dust. This was the first commencement o f the
gold trade that afterward proved so profitable. From this circumstance
the Portuguese gave the name o f the Rio del Oro, or River o f Gold, to the
place on the coast where the exchange took place. It lies almost directly
under the tropic o f Cancer. As may be supposed, the spirit o f trade was
now fully aroused. The gold-dust opened the eyes o f the most prejudiced,
and countries that a short time before were believed to be the unapproach
able habitations o f giants and wild beasts, were now thought to have been
intended solely by Providence for the gratification o f Christian cupidity.
Several voyages were now made, which our limits will not permit us to
describe. The profits that began to attend the trade induced several Por
tuguese to form a company for the prosecution o f further discoveries.
Th ey set out with six ships, o f which Gilianes was commodore, but the
expedition does not seem to have done much, except attack some small
'islands in the g u lf o f Arguin, and the capture o f some two hundred pris
oners. In a voyage made by Gonzalo de Cintra, in 1445, to the islands
o f Arguin, his vessel got aground and was attacked by two hundred
Moors. He was killed, with seven o f his crew . In 1446 several voyages
were made with tolerable success. Am ong the others, Denis Fernandez,
who must have had some Irish blood in him, to judge from the name,
coasted along by the mouth o f the Senegal and discovered the celebrated
Cape Verd, the Assinarium Promontorium o f the Romans, directly off which
are the islands to which it gives its name.
In this w ay the Portuguese advanced, fighting, trading, cheating, and
lying their w ay towards the great discovery they were destined to achieve.
Gold, ostrich feathers, ivory, and slaves were the principal objects o f trade,
and when the first could- not be obtained, there never was any hesitation
in seizing upon the last by either force or fraud.
Nuno Tristan, who seems to have been one o f the most adventurous
traders, was the first to pass Cape Verd. He went on beyond the Gambia
until he came to the Rio Grand, a river which falls into the ocean in lati
tude 11 deg. north. Going up this river in his boat, he was surrounded
by boats full o f blacks, who attacked him with poisoned arrows, and killed
him, with most o f his men. Four men only were left to bring the ship
home, and being ignorant o f navigation, they wandered about for several
Commercial Voyages and Discoveries.
401
months before reaching port. A lvaro Fernandez went forty leagues
further than Tristan, to the district that now constitutes the English pro
vince o f Sierra Leone. About this time a voyage was made by Gilianes,
who first passed Cape Bojador, with ten caravels, but it was not very
successful. The traders on both sides had become so suspicious from re
peated experience o f the treachery o f either, that the trade, although ex
ceeding profitable in general, was frequently entirely suspended. Force
was substituted for fair dealing by either party, whenever it was thought
to be advantageous; and it was not unfrequently the case that the Portu
guese would am icably trade with the inhabitants o f a town in the day
time, and after getting all they could from them, land at night, kill some
and make the rest slaves. It is not to be wondered at i f the natives soon
learned to be as faithless as their visiters.
The fame o f the Portuguese enterprise began to be noised abroad
throughout Europe, and many were attracted to Lisbon to see the
curious things which were brought by the voyagers. A lion, brought by
Gil Homen, is said to have been much gazed at. Am ong the rest, ac
cording to D e Faria y Sousa, there came a very gallant gentleman from
the court o f the king o f Denmark, named Ballarte. H e obtained permis
sion, at the request o f his sovereign, o f Don H enry to accompany Fernan
do Alonzo, who was despatched to the king o f Cape de Verd. The natives
appeared in arms to prevent their landing, but the Portuguese, represent
ing that they came with peaceable intentions, a communication was open
ed, and Ballarte landed. Desirous o f seeing a live elephant, a black
undertook to guide him, but he had not gone far when he was treacherous
ly set upon and with his company slain, and the ambassador was com
pelled to return without effecting his mission.
The Azores, or W eslern Islands, were discovered some time before this,
by Gonzalo V elio. It is asserted as an undoubted fact by several Portu
guese writers, that in the small island o f Corvo, the most westerly isle,
there was found an equestrian statue, with a cloak, but without a hat, the
left hand upon the horse’ s mane and the right pointing to the west. There
was an inscription on the rock underneath, which could not be made o u t ;
the whole was afterward supposed to refer to Am erica. Leave was grant
ed to Don H enry to plant these islands. Vines were sent there by him,
which in after times were to flourish upon the acclivities o f Pico, and to
furnish the sapient wine-drinkers o f the United States with many hundreds
o f pipes o f genuine Madeira.
In 1462 was discovered all o f the Cape de Verd islands, ten in number.
The next year the great Don H enry died, much to the sorrow o f the whole
nation. H e is represented to have been well made, with a majestic coun
tenance, brave, generous, and profoundly skilled in mathematics and all
the science o f the age. His death did not interrupt the prosecution o f the
African explorations, the trade having become too profitable to require
any other incentive to the spirit o f commercial enterprise.
In 1471 the equator was passed. T h e grain coast, (so named from the
Portuguese having obtained there a quantity o f cochineal, known in the
Italian markets by the name o f grana del paradiso,) ivory coast, gold coast,
and slave coast, were reached in succession. Extending their voyages
from day to day, the islands o f the G u lf o f Benin were visited, and the
shores o f Loango, Congo, and Angola. The king o f Portugal now took the
title o f lord o f Guinea ; the donation o f all lands was again confirmed
402
Commercial Voyages and Discoveries.
by the pope, and an exclusive privilege granted to make discoveries from
the west to the east. The Portuguese had- now several forts established
at various points upon the coast, and were vigorously prosecuting a lucra
tive trade, the nature o f which will be more clearly understood from an
abstract o f the voyages o f Cada Mosto, which we w ill give previous to
entering upon the more detailed accounts o f the celebrated voyages o f
V asco de Gama and his successors in the Indian seas.
C H A P T E R IX.
Voyages o f Aluisa da Cada Mosto and Piedro de Cintra.
T he voyages o f Cada Mosto, written by himself, are the first full and
detailed narratives o f the early expeditions to the coast o f A frica, to be
met with in the old collections o f travels. T h ey are contained in Grinasus’ latin work, and in Ramusio, from whence they were translated in
to A stley’s collection. Cada Mosto was a Genoese, but performed his voy
ages under the auspices o f Don H enry. He also wrote the narrative o f
the voyage o f Piedro de Cintra, a Portuguese, who visited Guinea shortly
after Mosto had returned. These voyages are interesting, not only as
being the earliest, but as containing as much or more o f accurate informa
tion respecting the coast he visited, and its inhabitants, than can be found in
any later writer. Unfortunately, our limits enable us to give but a very
brief abstract.
In 1454, Cada Mosto, a young and gallant Italian, embarked at V enice
on board a galley for Flanders, to which country he had previously made
a commercial voyage to some profit. Arrived as far as Cape Vincent,
the galley was detained for several days by contrary winds. Don H enry,
who was at the time residing, for the sake o f his studies, in his countryseat, near the cape, hearing o f their arrival, sent on board a gentleman o f
his suit, accompanied by the Venetian consul. From them they heard
the stories o f the prince’s discoveries, and were shown samples o f Madeira
sugar, dragon’s blood, and other commodities produced in the islands be
longing to the prince. The curiosity o f Cada Mosto was also thoroughly
excited by accounts o f the Portuguese adventures upon the coast o f Africa.
In reply to his inquiries, he was assured that the trade yielded a profit o f
from seven hundred to a thousand per cent, and that the prince was very
willing to grant permission to foreigners to enter the trade upon condition
that the person undertaking the voyage should be at the expense o f fitting
out a vessel, in which case the prince would receive one fourth o f the re
turn c a r g o ; or the prince would be at the expense o f the vessel, and the
merchant o f the freight, and the profits equally divided between the two.
H e was also told that the prince would particularly like to make such an
arrangement with a Venetian, because he thought that spices, and other
products o f the East Indies, might be found in those parts, and he knew
that the Venetians were w ell acquainted with such articles. Cada Mosto
landed, and the prince in person confirmed these representations, and gave
such a pressing invitation that Cada Mosto resolved to accept. He ac
cordingly took out his effects from the galleys and left them to pursue
their w ay to the low countries.
After waiting some time at Cape St. Vincent, where he was handsomely
entertained by the prince, he was directed to fit out a caravel o f ninety
tons. Vincent Diaz was chosen master, and on the twenty-second o f March
Commercial Voyages and Discoveries.
403
they set sail, and directed their course for the island o f Madeira. On the
twenty-fifth they made Porto Santo, and on the twenty-eighth they reached
Madeira. The author’s account o f this island, and o f the Canaries, sev
eral o f which he touched at after leaving Madeira, we must omit.
A few days after leaving the Canaries they came within sight o f Cape
Blanco. Round to the south o f this Cape lies the Bay o f Arguin, which
extends in about fifty miles, and contains three small islands, which have
been several times mentioned in the previous chapter.
According to Mosto an ordinance had been passed that no vessels should
enter this bay to trade with the Arabs, except certain privileged persons
mentioned in the ordinance, who had permission to establish factories and
trading-houses upon the island o f Arguin, and to sell cloths, tapestry, cot
ton stuffs, and other goods for negroes and gold. Before this the Portu
guese vessels used to come into the bay by night and carry off for slaves
the inhabitants o f the fishermen’s villages.
He mentions a place called Hoden, situated six days’ journey back o f
the cape. This place is not walled, but much frequented by the cara
vans coming from Timbuctoo. This is now known to be a large oasis, but
its precise position and features are not moi’e accurately known than they
were in Mosto’s time. It is the residence o f the Trasarts, one o f the three
tribes who have now possession o f the extensive gum forests between Cape
Blanco and the Senegal. Six or eight days’ journey from Hoden lies a
place called Teggazza, where quantities o f rock-salt are dug up and con
veyed by caravans to Timbuctoo, and other negro markets. In answer
to Cada Mosto’s inquiries as to the disposal o f this salt, he was told the
following story, which, however improbable, is curious, from the fact that
it still continues to be affirmed, with some variations as to names and
places, by the Moorish merchants o f Barbary. The salt having reached
Timbuctoo, is carried on thirty days’ journey beyond to the kingdom o f
Melli. There a portion o f it is used for the supply o f the inhabitants. The
remainder is carried a long w ay in pieces by men, on their heads, every
piece being as much as a man can w ell bear. These porters, who are
employed in great number to carry the salt from want o f camels or other
beasts o f burden, have a long fork in each hand, which, when tired, they
fix in the ground and rest their load on. Thus they proceed until they
come to a certain water, which Cada Mosto very sagely contends to be
fresh, although he has no certain information on that head, from the fact
o f the demand for salt brought from such a distance. Arrived at the water
side, the proprietors o f the salt place their shares in heaps together in a
row, every one setting a mark on his own. This done, they retire h a lf a
day’ s journey. Then the negroes they want to deal with, who will not be
seen or spoken to, and seem to be inhabitants o f some islands, come in
large boats, and having viewed the salt, lay a sum o f gold on every heap,
and then withdraw. W hen they are gone, the negroes who owrn the salt
return, and if the quantity o f gold pleases them, they take it and leave the
sa lt; if not, they leave both, and withdraw again. The buyers again come
on, and the heaps they find without gold they carry with them, and either
advance more gold to the other parcels or leave the salt. In this manner
they trade, without seeing or speaking to one another, which has been a
very ancient custom among them.
It is very possible that this story, however absurd it may seem to be,
had then, and still may have, a good foundation in fact. Cada Mosto says
404
Commercial Voyages and Discoveries.
that he had it from numberless Arabs and Azanaghi merchants, as well
as other persons worthy o f credit; it is believed in the present day by the
Moors, and we have good authority for believing that the same custom has
existed in other nations since the earliest days. Pliny alludes to the cus
tom, in noticing the trade with the Seres, (the Chinese,) and Pomponius
Mela, the geographer, quoted in the “ Commercial intercourse with China,”
forming the first number o f Hunt’s Library o f Commerce, expressly says:
“ The Seres are a nation celebrated for their justice, and have become
known to us by their commerce, for they leave their merchandise in the
desert, and then retire until the merchants they deal with have left a price
or barter for the amount, which, upon their departure, the Seres return
and take.”
This, adds the author o f the “ Commercial Intercourse,”
agrees precisely with what is known to take place in the land trade o f the
Chinese in the present day.
W e should not do full justice to Cada Mosto’s narrative i f w e did not
give his description o f these invisible and taciturn salt-eaters. It seems
that in reply to his inquiries upon the subject, he was informed that there
once lived an emperor o f Melli, whose curiosity overcame his prudence,
and he resolved to have a sight o f his singular customers. H e directed
an ambuscade to be laid at the place o f trade, by which four o f the invisi
bles were caught. The w aylaying party thinking that one would answer
their purpose, set three o f them at liberty. But they were disappointed in
their expectations o f the fourth, who very obstinately refused either to
speak or eat, and at the end o f four days he died. “ This cross accident
was much regretted by the negroes o f Melli, because theii lord was there
by prevented from obtaining their ends; and the captors having brought
the emperor an account o f the man’s death, he received it with great dis
pleasure, and asked o f what stature they were. H e was answered that
they were exceedingly black, well shaped, and a span taller than them
selves. That their under lip was thicker than a man’s fist, and hung
down upon their breasts. That it was very red, and that something like
blood dropped down from it, but that their upper lip was small as other peo
ple. That the form o f their lips exposed to view their gums and teeth, which
were larger than their own ; that they had great teeth in each corner o f
their mouths. That their eyes were large and black. In short, that they
made a terrible figure, blood dropping from their gums as w ell as teeth.”
F or three years after this, these people came not after their salt. At
length the trade was renewed, but no succeeding emperor has been dis
posed to risk another interruption, by repeating the experiment.”
Doubling Cape Blanco, Cada Mosto proceeded to the mouth o f the Sen
egal, which he found like most o f the African rivers which empty into the
Atlantic, much obstructed by variable sand-bars. A t the present time, the
bar will not admit vessels drawing more than nine or ten feet o f water,
and that only under favorable circumstances as to wind and tide. This
river, which was formerly confounded, rises in the country o f the Foota
Jallow, and runs a tortuous course o f about eight hundred miles. A t its
mouth is the island o f Senegal or St. Louis, the seat o f the French gov
ernment o f the province. Form erly this river was a great place to obtain
slaves ; it is now com m ercially interesting only from the gum which its
banks produce. The forests o f acacia, which stretch up in the direction
o f the desert, are visited by the Moors in December, who encamp in them
about six weeks, collecting the drops which exude from the cracks in the
Commercial Voyages and Discoveries.
405
bark. T h ey then proceed in a tumultuous crowd to a desert plain on the
north o f the Senegal, between Poder and St. Louis, where they meet the
French merchants, and the great gum fair commences. In some years
these forests have produced over 1,400,000 pounds.
Cada Mosto having passed the mouth o f the Senegal, coasted along the
shore for eight hundred miles, until he came to the country governed by
King Budomel. A s soon as he had anchored at a place called the Palm o f
Budomel, an open roadstead, he sent his interpreter, who was a negro, to
apprise the king, who had the reputation among the Portuguese who had
visited him before, o f being a clever fellow, o f his arrival, and o f the goods
he had on board. Am ong the rest, he had several Spanish horses, much
esteemed by the negroes, as well as cloths o f various kinds and Moorish
wrought silks.
Upon the invitation o f Budomel, he landed and was received with great
civility. Budomel purchased seven o f the horses, with their furniture,
and some other goods, and invited Cada Mosto to go with him to his capi
tal, twenty-five miles in the interior, to receive his pay, which was to be
in slaves. Trusting to his honor, and desirous o f seeing the country, Cada
Mosto went, and was most liberally entertained for twenty-eight days.
Budomel took him into the mosques, made him many presents, and afford
ed him all opportunities for observations upon the manners and customs
o f the inhabitants, which Cada Mosto seems fully to have improved, but
which our space compels us to omit.
Stormy weather coming on, Cada Mosto found it impossible to reach
his vessel, and he sent an order by a negro swimmer, who undertook to de
liver it on board, for the caravel to proceed back to the mouth o f the
Senegal, while he made his w ay up the coast by land. In this journey
the enterprising Mosto was not idle, and his journal contains much inter
esting information, mingled with perhaps not more o f inaccuracy and ex
aggeration than is common in the narratives o f more modern travellers.
Having joined his ship, our author resolved to double Cape Verde, and
try his fortunes further south. He set sail, and a day or two after dis
covered two ships, which he found to be, one a vessel belonging to a
Genoese gentleman, Antoniotto Uso di Mare, and the other belonging to
Don Henry, and that they were both bound upon an expedition round the
Cape de Verde. Joining company, they proceeded together, and soon
came in sight o f the cape, which derives its name from the luxuriant vege
tation with which it is covered.
Running along this coast, they came to anchor a few miles from land,
and cast lots to see which o f them should send an interpreter on shore. It fell
to the turn o f the Genoese, who despatched his boat with orders to the men
not to touch the shore but when they landed the interpreter, who was
charged to inform him self concerning the condition and government o f the
country, and whether there were any gold or other articles to be procured.
The interpreter landed, but after a few minutes’ conversation with the
natives, he was furiously attacked and killed, without those in the boat be
ing able to render any assistance. Cada Mosto and his companions justly
concluding that those who could commit such a barbarity upon one o f
their own complexion, would treat them with still more cruelty, weighed
anchor and stood along the coast, which improved in beauty as they ad
vanced, until they came to the mouth o f a large river, which he calls the
VOL.
vi.— n o . v.
43
406
Commercial Voyages and Discoveries.
Gambra— the true native name o f the country through which it flows, and
which has since been corrupted to Gambia.
This river, which is very wide and deep, permitting the ascension o f
ships nearly two hundred miles, has only a short course o f six hundred
miles. There was formerly a very flourishing trade here. The English
have several factorieSj which in some years have required merchandise to
the amount o f nearly a million o f pounds. This trade having been very
much depressed, has, within the last few years, been gradually increasing
until it has again become o f considerable importance.* St. M ary’s Island
is the principal English settlement. Bathurst, situated on the east side
o f the island, contains about three thousand inhabitants, exclusive o f the
garrison.
Being come to this river, which Cada Mosto judges to be five or six
miles wide at its mouth, he and his companions concluded that they had
arrived at the famous country o f Gambra, and would at once make their
fortunes by stumbling upon heaps o f gold and other precious things. The
small caravel was sent ahead with boats to sound the river, and the next
morning the other two also weighed anchor and stood up the stream. By
the time they had advanced four miles up they perceived themselves fol
lowed by a number o f almadias, or boats full o f negroes. T h ey tacked
about and stood down for them, taking all precautions to guard against their
poisoned arrows. Cada Mosto’s ship first reached the negroes, who num
bered about a hundred and fifty, in fifteen boats. T h ey ceased to row,
raised their oars, and looked upon the caravel with wonder. Thus they
continued until they saw the other vessels bearing down upon them, when
they dropped their oars and let fly a volley o f arrows. The ships in re* In 1828, the total value o f imports in the Gambia amounted to £50,269.
ports £60,302.
T he ex
In 1836, the imports were £114,772, and the exports £147,732.
E xports from the River Gambia, in 1825, 1830, and 1833.
Articles.
1825
181 tons
Gold ....................................................
922 oz.
30 bags
58,125
6 tons
1,801 logs
Corn, measure o f sixty gallons.........
266
40
292
Orchilla.................................................
1830
2444
14,625 lbs.
500
52 cwt.
76,471
164
502 loads
1,711
54
3,443
225
126
9
207
1,140
700
galls.
lbs.
no.
no.
1833
1754
29,240
1,139
255 ibs.
76,900
288
1,490
660
3,635
744
1,819
6,780
680
15
13
1,264
220
4,200 lbs.
4
1,475
M a r tin ’ s British Colonies.
Commercial Voyages and Discoveries.
407
turn discharged four pieces o f cannon, which for a time considerably as
tonished the natives, who were much surprised to see the stones fired from
the cannon drop in the water near them. Recovering from their stupefac
tion, they renewed the attack with great fury, which they kept up until a
number o f them were killed.
After this battle, in which the negroes fought as i f they had a presenti
ment o f the suffering and crime o f which the Gambia was to be the scene,
the commanders came to a resolution to proceed about a hundred miles
up the river, in hopes o f meeting with a better disposed people. “ But the
sailors, who were impatient to return home, not caring to run any further
dangers, unanimously and loudly opposed their determination, declaring
they would consent to no such thing, and that they had done enough al
ready for this voyage. W hereupon, knowing that seamen are a head
strong and obstinate people, and to prevent scandal, they came into their
measures, and next day sailed for Cape de Yerde, on their return to
Spain.”
The next year, 1456, our author resolved to make another voyage, in
conjunction with the Genoese De Mare. Don H enry encouraged the de
sign, and sent with them a caravel o f his own. Leaving Largos Bay they
steered for the Canaries, passed them with a favorable wind, and came in
sight o f Cape Blanco. Standing well out from land, the following night
they encountered a heavy storm, which compelled them to lay to for two
nights and three days. On the third day they discovered land, to the
great joy and surprise o f every one. Having ordered two men into the
maintop, they made it out to be two large islands, which they were at once
satisfied were unknown in Europe. The sea becoming calm, our author
sent some men to examine the land, who could find no trace o f inhabitants,
but reported three other islands in sight. This was the first time that the
Cape de Verde Islands had been visited, an honor which is generally, up
on the authority o f Faria y Sousa, erroneously attributed to Antonio de
Noli, who saw them in 1462. Cada Mosto named one Bona Vista, and
the other St. Jago, from which last he obtained a supply o f water, fine tor
toises, and a quantity o f very white and pure salt, and then set sail for the
main coast. Doubling Cape Verde they passed forward to the Gambia,
into which they entered without any opposition from the natives, and cast
anchor at an island about ten miles from its mouth, which he called St.
Andrew ’s Isle, now known as St. James.
Proceeding still further up the river, the negroes followed, but at a re
spectful distance, until at last, by hailing them and showing them trinkets,
they were induced to approach, and at length one o f them came on board.
He informed the voyagers that the country was tributary to the king o f
Melli, but that there were many inferior lords who dwelt near the river,
and that he would conduct them to one named Battimausa, who would be
glad to negotiate and trade with them. T h ey accordingly proceeded up
the river about forty miles, and sent the negro to announce their arrival.
A s soon as the prince received the news he sent a deputation o f negroes to
the vessel, with whom the adventurers entered into a treaty o f friendship,
and bartered some o f their goods for slaves and gold. T h ey were, how
ever, very much disappointed in their expectations, as the negroes had as
high an idea o f the value o f the gold as the Portuguese themselves.
T h ey continued here eleven days, during which time the caravels were
resorted to by numbers o f negroes from both sides o f the river. T h ey
408
Commercial Voyages and Discoveries.
brought for sale gold rings, cotton, and cotton-yarn. Some pieces were
all w hite; others striped with blue and white ; and another sort with red,
blue and white stripes, very w ell wrought. T h ey likewise brought civet
and civet cat-skins, monkeys, and small baboons o f various sorts, which
being very plenty were sold cheap. A t the end o f eleven days they be
gan to suffer from the fever that still continues to be the curse o f the coast,
and it was resolved to put to sea. The short time had, however, not been
unimproved by our author, who records his observations upon the customs
and religion o f the natives— the climate— the enormous vegetable pro
ductions— the elephant— the method o f hunting it, and preparing it for the
table, & c ., too much in detail for our limited space.
Departing from Battimausa’s country they soon got out o f the
river, stocked with commodities sufficient to encourage them to proceed
further.
T h ey proceeded along the coast, passing the mouths o f
several rivers, until they came to a very large one, (the Rio Grand)
which at first appeared to be a g u lf and was judged to be about
twenty miles across. Resolved to gain some intelligence o f the country,
they came to anchor. Next morning two large almadias came o ff and
rowed towards the ships ; one was as long as the caravel, with thirty hands
in her, the other had sixteen. Seeing them approach with great eager
ness, the Portuguese stood to their arms. A s they drew nearer they
hoisted a white handkerchief fixed to the end o f an oar, as a signal o f
peace. The Portuguese answered in the same manner, and the negroes
came alongside, and evinced the greatest curiosity when they found their
visiters to be whites. The interpreters spoke to them, but could not un
derstand a word o f their language, which was a great mortification. Th ey
bought a few gold rings, having agreed upon the price by signs ; but find
ing themselves in a country where their interpreters were o f no use, and
concluding for the same reason that it would be to no purpose to pro
ceed further, they determined to return, so they steered aw ay for Christen
dom, where they safely arrived.
These two voyages o f Cada Mosto were shortly followed by others, per
formed by the Portuguese. Am ong the rest there were in particular two
caravels sent by the king o f Portugal, after the death o f Don Henry, un
der the command o f Captain Piedro de Cintra. A former clerk o f Cada
Mosto accompanied the expedition, from whose account Mosto drew up a
narrative o f the voyage, beginning from the Rio Grand.
Coasting from the mouth o f this river they discovered a cape which they
called Verga, and soon after another, to which they gave the name o f
Sagres. The inhabitants o f this coast were noticed to be very fond o f
ornaments, having their ears pierced with holes all around, in which they
wore various sorts o f gold rings. The nose was likewise pierced, both in
men and women, who wore a gold ring in it.
Having passed Cape Sagres they ran along to the mouth o f Rio de San
Vincent, and passing it, came to Cape Liedo. From this cape there runs
a large mountain for about fifty miles along the coast. T o this mountain
they gave the name o f Sierra Leone, “ on account o f the roaring thunder
heard from the top, which is alw ays buried in clouds.”
Passing Cape Roxo they came to a river, to which they gave the name
o f the River o f Palms ; and beyond that about the R iod e Fumi, so named
from the clouds o f smoke that they saw along the coast, an appearance
which probably arose from the same cause as the torrents o f fire seen by
The Trade and Manufactures o f Belgium.
409
Hanno, the Carthaginian navigator— the custom o f burning the forests o f
gigantic grass.
Further on the caravels came to anchor, and two or three almadias
came off. The negroes were all naked, and were armed with sharp
pointed sticks like darts, and bows and arrows. The interpreters were
unable to hold any conversation with them. Three o f them having ventured
on board, the Portuguese let two go free, but detained the other. After
this, the captain having concluded to go no further, they returned to Por
tugal, where the negro, being presented to the king, was examined by
several o f his color, and at last by a black female, who belonged to a
citizen o f Lisbon. This woman was able to converse with him in his
language. W hatever information he communicated to the king, it was
kept a profound secret, except that there were unicorns in his country,
and after keeping him for several months, he was loaded with presents
and sent back to his native place.
Art. II— T H E T R A D E A N D M A N U F A C T U R E S O F B E L G IU M .*
B elgium is well calculated for a manufacturing country. She possesses
water power, and is well supplied with coal, iron, limestone, zinc, and
lead ores. Living is cheap, and she is blessed with an industrious and
steady population. She has one drawback, however, in the want o f skill
o f her workmen in some branches o f manufactures, particularly in the
production o f iron, and in the manufacture o f machinery. This want
she supplies by the employment o f English artisans. The difference in
the wages paid to English and Belgians affords a fair criterion o f their
relative skill. Many iron-masters pay English workmen 12| francs a
day, w hich is about $2 50, while Belgians in the same workshop receive
but 8 francs, or $1 60, and the former are considered the cheapest hands.
T h ey are said to be able to produce more and better iron from the same
materials. A skilful Englishman w ill do seven heats in twelve hours,
while a Belgian in the same time will only do five. If 200 killogrames
o f pig-iron are put into a furnace, an English puddler w ill draw out 180
o f puddled iron, while the Belgian will obtain but from 150 to 165 killo
grames. In the manufacture o f machinery, steam engines, & c., the greater
skill and experience o f English workmen also renders them pre-eminent.
So it is with the self-acting mule, which in Belgium, when attended by
natives, will not yield over two thirds as much work as in Manchester.
It requires a greater number o f men to work them, they make more waste,
and owing to their want o f sufficient dexterity, the spindles have to be run
at much less speed. It is said that Belgian operatives never improve.
T h ey do tolerably well when alongside o f Englishmen, but as soon as
they are left alone they invariably relapse into their old clum sy nonchalant
habits.
This want o f mechanical skill can, however, by no means be considered
a decided bar to the progress in manufactures o f the country. English
* Extracts from manuscript notes on Belgium, politely furnished for publication in the
Merchants’ Magazine, by Alexander Jones, Esq.
43*
410
The Trade and Manufactures o f Belgium.
operatives can always be had in abundance, and the compensating ad
vantages o f cheap living and patient industry, will, in the end, insure
manufacturing success. The principal seats o f manufactures are Liege,
Brussels, Ghent, Malines, Tirlemont, and Yerviers.
Iron Trade.— The iron ore o f Belgium is principally the yellow oxid,
and resembles in appearance gravel or sand. It is found in large quanti
ties near Namur, and in the vicinity o f the river Meuse, and between
Liege and Mons. It is obtained generally at a depth o f from thirty to
forty feet beneath the surface, and is drawn up by manual labor or horse
power. The stratification in which it is found is very different from that
in the English mines, and no regular pit-work, as in Staffordshire, is
necessary.
These ores, when first got out, are so mixed with dirt as to require much
washing, and, after all, are very p o o r ; the richest is that found near Spa.
T h ey yield a good, strong, white-grained iron, but the proportion o f pure
iron is very small. O nly about 32 per cent can be obtained from them,
but i f taken as they come from the pit, their yield is not more than 18 per
cent.
It has been found profitable in some instances to mix the red oxid o f
iron (hematite) from England with the Belgian ores. It has been shipped
from Lancashire to Charleroi, and delivered at the furnaces at a cost o f
three pounds per ton. This ore, which is also found in Staffordshire and
Cornwall, is compact, and o f a deep red color, and yields about 60 per
cent o f pure iron. "In working, it requires no washing, and but one pro
cess or fluxing to reduce it. It is also sent in considerable quantities
to the furnaces at Merthyr, T ydvil, in South W ales, and to different
furnaces in England and Scotland. The transportation o f that which
goes to Belgium costs about 22 shillings, or $5 per ton.
It is not, however, the richest ore, or that which yields the greatest pro
portion o f pure iron, that is always the most profitable to work. The per
centage o f iron to the whole ore may be very large, as in some o f our
Am erican ores, but owing to their chemical composition, it may be much
more expensive and difficult to reduce them than some o f those which
yield a much less proportion o f the pure metal.
Most o f the furnaces in this country are situated at a distance o f twenty
miles or more from the coal pits, and the coke has to be brought at consid
erable expense. These coal pits are generally from twelve to eighteen
hundred feet deep. Much water has to be raised from them, for which
purpose large pumping engines are employed, most o f them with cylinders
84 inches in diam eter; a good size, but not equal to many used in Eng
land— one in particular, a blowing cylinder, at a blast furnace in South
W ales, measuring 144 inches in diameter, with a stroke o f nine feet.
A good deal o f charcoal iron is made in Belgium, and is preferred for
all purposes to that made with coke. In building locomotives for govern
ment, it is always contracted that the working parts shall be made o f
charcoal iron. This iron is chiefly produced near the Sambre, towards
Charleroi and Denant. T h e charcoal comes principally from the neigh
borhood o f W aterloo, in the forest o f Soignes.
There are in this country fifty-eight blast furnaces upon the English
system ; only eighteen o f which however are at present (18 40 ) in full
operation. The largest works are at Charleroi, where a great number o f
The Trade and Manufactures o f Belgium.
411
English hands are employed. Each o f these furnaces in full work would
produce from ten to fifteen tons a day.
T he iron o f Belgium is produced at an expense o f £ 1 , or $5 per ton
more than it costs in Staffordshire. Cast-steel cannot be produced at a l l ;
several attempts have been made to manufacture it, but without success.
T he duties upon iron are enormous ;— upon English pig-iron £ 1 per
ton ; upon bar iron £ 6 , or $30 per ton ; on sheet iron it is said to be about
£ 1 2 , or almost $60 per ton. These duties are imposed without any re
gard to the quality o f the imported iron, and are collected simply accord
ing to the weight. T h ey are levied for the double purpose o f revenue
and protection. In this last particular they cannot be said to have pro
duced any very brilliant effects.
Though abundantly “ protected,” the
iron trade o f Belgium cannot be cited as an instance o f the beneficial in
fluence o f the system. The iron-masters, formerly a very powerful class,
have, in despite o f high duties, been losing their preponderance, and iron
has to be imported from Sweden, Germany, England, and France.
Manufacture o f machinery.— In Ghent, Liege, and a few other places,
are manufactured nearly all kinds o f machinery, o f a quality very close
ly approximating the best o f Manchester work. Above eight thousand
hands are employed in the large establishments devoted to this branch o f
industry, without including the workmen in the service o f a great many
machine-makers who do business in a small w ay. Most o f the machinery
produced is designed for exportation to other parts o f the continent, and to
Egypt and Turkey, and it is said that some o f it has been sent to the Uni
ted States. A good deal goes to Spain, such as that for the manufacture
o f paper and woollen cloth. A considerable amount o f silk machinery is
made for home use.
The manufacture o f machinery has been much forwarded by the facility
with which joint-stock companies are formed, it requiring for that purpose
merely the permission o f the minister. This has however been attended
with the disadvantage o f overtrading ; capital readily found investment in
the stock o f these companies, and the supply was increased beyond the
just and lasting demand. A reaction to a great extent has been the
necessary consequence.
The cost o f manufacturing machinery in this country is considerably
more than it is in England. The price o f a mule spindle at Ghent, by
the Phoenix company, is about 8s. 6d. sterling ; the difference in cost in
a mule jenny, in favor o f Manchester, is about 22 per cent. In the latter
place the price varies from about 6s. 6d. to 7s. per spindle. Mr. W ithers
states, in his evidence before a committee o f the House o f Commons upon
the exportation o f machinery, that the machinery o f Belgium is about 15
per cent more expensive than the English. Steam engines are made as
cheap, or cheaper, if we add to the English price the cost o f transportation.
An English engine o f about 30 horse power, which was imported for a
woollen manufactory at Verviers, cost, including transportation duty, & c.,
£ 6 0 0 ; considerably more than an engine o f the same power would have
cost at Liege. T h e English engine was however o f much better work
manship than a corresponding one o f Belgic manufacture.
Large works for the construction o f locomotives exist in this country.
The first establishment for this purpose was founded by Mr. Cockerill at
•Leraing; since then a large company has been organized at Brussels,
called the “ Renard Company,” expressly for this business. Engines from
*
412
The Trade and Manufactures o f Belgium.
these sources have been supplied to the railroad from Cologne to the fron
tiers o f Prussia. At Leraing steam engines are constructed for boats on
the Rhine, and also for Prussia and Plolland. The engines o f Belgium
are constructed on what is termed W o lf ’s plan, which combines the prin
ciples o f both high and low pressure. This kind o f engine was invented
in England ; it has received various improvements, and is now extensively
used in that country, and in Belgium and France. The Cornwall mines
have large pumping engines at work in them, made upon the same princi
ple, and in several small steamboats upon the Thames they are very
successfully employed. The principal English manufacturers o f them are
Messrs. Hall, at Dartford.
Steam engine making has made but little progress in F ra n ce; their
marine engines are very inferior. Nineteen out o f twenty steamboats
have engines made in England, and have on board English engineers and
stokers. Fawcett, Preston & Co., o f Liverpool, have built under contract
several large marine engines for French steamships o f war. There must
be a natural inaptitude for such kind o f work, when a government possess
ing the resources, and using as much steam machinery as France, is
compelled to go abroad for a supply. Throughout the whole continent
the same inferiority is found to exist, although it cannot be denied that
within a few years great progress has been made, particularly in Belgium,
which has considerably outstripped its continental rivals. This inferiority
is particularly striking in the manufacture o f tools, which involves as a
consequence an inferiority in other branches o f industry in which good
tools are a requisite. T h ey seem to possess the power o f making a spin
ning jenny, but not a good planing machine o f iron or wood.
V ery good files for watchmakers are made at Liege. Mr. Stubbs,
however, o f Warrington, Lancashire, still maintains his high reputation,
not only in England but throughout the continent. I became acquainted
in England with the present Mr. Stubbs, son o f the founder o f the house,
who informed me that he sent large quantities o f his files to the continent,
and that he had been compelled to prosecute many parties in France for
putting out imitations o f his files, and stamping his name upon them. His
files have for many years had a run in the markets o f the United States
which those o f no other manufacturers have been able to obtain.
The duty on locomotive engines imported into Belgium, is from 6 to 8
per cent. Common steam engines, saw-mills, rolling-mills, & c., are ad
mitted free. Steam boilers, however, bear a duty o f £ 1 2 per ton. Ma
chinery o f all kinds is imported free, provided the importer shows it to be
for his own use, and will also agree to exhibit it, and afford all explana
tions respecting it at all times to any person who may wish to examine it or
take drawings o f it. This condition, however, acts almost as a prohibition,
as no manufacturer likes to have all the operations o f his factory exposed
to the public, to say nothing o f the inconvenience and trouble o f such con
tinual inspection.
The principal continental establishments for making machinery, other
than those o f Belgium, are Zurich and Aix-la-Chapelle.
From these
places machinery is exported to a considerable extent to Italy and Spain.
T o Salermo, near which place is grown enough cotton for domestic use, is
sent machinery for manufacturing it.
The principal places in France engaged in making machinery are, for
the woollen manufacture, Arras, Rheims, Sedan, Elbeauf, and P aris; for
The Trade and Manufactures o f Belgium.
413
cotton, Lisle, Lille, Roulaix, Douai, Cambray, Alsace, and R ou en ; for
lace, Dunkirk, St. Quentin, Lyons, ond Lisle.
Silk trade.— Not much is now doing in the silk business in Belgium.
The Jaquard loom is in operation near Antwerp, where an old silk trade
has existed for centuries ; the principal articles manufactured were black
silk cravats. The business has fallen off very much. Attempts have o f
late been made to revive it, but with what success remains to be seen.
The Jaquard loom is a modern invention, first discovered in France by
the man whose name it bears, but which was afterward considerably im
proved in England. The French, and o f course the Belgians, who re
semble them so much in national character, are good at discovering prin
ciples, or originating machines, but they seem to fail in the practical
application o f their ideas to useful purposes. I f they get hold o f an im
portant invention, however promising in its first inception, they neglect to
carry it out to its ultimate perfection. Collier’s wool-combing machine,
like the Jaquard loom, is a case in point. This machine was first invented
by a Frenchman at A rra s; Collier, an Englishman, was upon a visit to
Paris, and became acquainted with the inventor; he purchased an interest
in the machine and took it to England, where it soon underwent important
improvements. It was returned to France in its new dress, and is now
universally used in that country and in Belgium. A great many other
cases o f precisely the same kind have occurred.
The hosiery trade is carried on principally at Tournay, Enghein, and
near Brussels. It has recently suffered much from the competition o f
Saxony, and o f Aberdeen, in Scotland, and Leicester and Nottingham, in
England. In the finest kinds o f goods the Belgians excel, but in the
manufacture o f heavy substantial articles the English are far superior to
any part o f the continent. The business is, however, at present in Eng
land at a low ebb.
The linen trade is in a rather more flourishing condition. F or the
prosecution o f this business, a large amount o f machinery has been, and
continues to be imported from England, contrary to the laws o f that coun
try, which very unwisely prohibit the exportation o f nearly all descriptions
o f machinery except tools, steam engines, and cotton machinery.
Flax is extensively cultivated in Belgium, but not enough is raised to
supply the demand, and some has to be imported, and pays a small duty.
Cotton also pays a small duty. T h e manufacture o f this article is very
far from being in a flourishing condition, owing to various causes, one o f
which is the want o f a regular export trade. There is no danger o f any
part o f the continent ever becoming the rival o f England in this branch
o f industry. It is estimated by the French manufacturers that, owing to
the use o f cheaper machinery and coals, superior workmen, and a better
market for the purchase o f the raw material, the difference in the cost o f
cotton yarn in favor o f England is equal to 2d. per pound. The conti
nental spinners have to use much finer cotton to produce the same numbers.
The raw material is considerably cheaper at Manchester than in any part
o f France or Belgium. Liverpool, so near to Manchester, controls the
cotton markets o f Europe. It at all times affords the greatest variety o f
the raw material, from which buyers can make their selections ; and we
find that large quantities are there sold to continental houses for the use
o f their manufactories. If, in addition to this, we consider the cost o f the
necessary land carriage from the sea-board to the factories, most o f which
414
The Trade and Manufactures o f Belgium.
are situated some distance in the interior, it may be fairly estimated that
the continental spinner pays fu lly Id. per pound more than his rival o f
Manchester.
The cost o f machinery for the cotton business is also a great drawback. Mr. Ashton, in his examination before a committee o f the House,
states that he saw a cotton mill at Rouen which cost £ 1 2,00 0, the cost
o f which in England would have been but £ 9 ,0 0 0 ; the price o f the mill
in Belgium would have been about the same as in France. In England,
he states, a first class mill, including fire-proof house, all complete, costs
from 24s. to 25s. per spindle; in France a similar mill would cost 34s.
to 35s. per spindle. This difference alone w ill preclude the possibility
o f rivaling England in this branch o f manufacture ; at any rate it will
be many years before any thing like a competition can be established.
T h ey may make enough for their own use, but England and Am erica
must supply the world ; these two have got too large a start in mechanical skill to be easily overtaken.
Making spindles for cotton spinning is a difficult art, especially mule
spindles, which require to be very accurately ground, otherwise they will
not run true ; not one workman in a hundred can set a spindle unless he
has had great practice. Am ong the workmen in the machine shop o f the
Phoenix company, at Ghent, it is found necessary to have at least one out
o f every twenty o f them Englishmen.
At Verviers they have introduced into use the self-acting mule, manufac
tured by Sharp, Roberts & Co., o f Manchester. Potter’s self-acting mule
is made by the Phoenix company, to whom the patent-right was disposed
o f by the inventor. Another self-acting mule, called Smitt & O rr’s, now
manufactured by Parr, Curtis & Madileng, successors to D yer, in his
card machine making establishment in Manchester, has found its way to
the continent.
Dyer is one o f the few Americans who have made a fortune in England,
not by their own inventions, but by introducing those o f others. He com
menced the manufacture at Manchester o f Whittemore’s card machine, and
he had also something to do with a number o f other inventions, such as
Perkins’ method o f engraving on steel. After making a fortune in Eng
land, he has established his sons in business in France, where they both
build machinery and manufacture cotton goods. He has taken out patents
in several governments o f Europe for the tube throstle spindle and other
inventions.
Wilkinson’s reed machine m ay also be mentioned as an instance o f a
successful American invention. He is said to have been a poor man, of
Providence, Rhode Island. By his invention he cleared over $100,000
in England. It consists in a method o f inserting slips o f smooth iron in
sleighs instead o f corn reeds; the iron is found to answer better than
reeds, and the whole process is very expeditiously performed by his ma
chine, one o f which will make a whole sleigh in from ten to fifteen
minutes.
It is a lamentable fact, that in general inventors are not so successful,
even when their inventions turn out in the end to be o f the greatest practi
cal value. It is almost always that some second or third party reaps the
reward which should have gone to the ingenious but neglected inventor.
W e hear o f associations for almost all kinds o f purposes— for missionary,
political, and professional purposes, for every possible form o f charity—
The Trade and Manufactures o f Belgium.
415
for the suppression o f almost every thing that is bad, and the encourage
ment o f almost every thing that is g ood ; would it not be a good idea to
get up an association for the purpose o f aiding and encouraging poor in
ventors ? It is notorious that the patent laws o f every government, includ
ing our own, are exceedingly imperfect, and afford very little protection
to patentees. This must be the case with all patent laws which award
pecuniary damages to the injured inventor; the true remedy would be to
make stealing or infringing a patent-right, a felony. It frequently hap
pens in England, and may sometimes happen in this country, that a man
without money or character is put forward by some one with capital, for
the express purpose o f stealing or infringing a patent-right; suits for
damages in such cases are a mere farce. Mr. A . M. Perkins in London
informed the writer o f a case in point which occurred to himself. It was
the violation o f his patent for heating houses by means o f water in iron
tubes. Mr. Perkins went to the man and remonstrated against the injus
tice o f thus infringing a patent that had cost him so much trouble and
expense, but to no effect. The infringer laughed at him and the law, and
Perkins was compelled to compromise with him, and grant him a regular
license to carry on the business.
The internal commerpe o f Belgium is facilitated by magnificent rivers,
particularly the Meuse and the Scheldt, the latter being navigable as far
as Cambray in France. There are also numerous canals. W e can only
mention the great northern canal, from Neuss, on the Rhine, (in Prussia,)
by Venloo, on the Meuse, to Antwerp, and with which communicate, by
means o f the Scheldt, the Lievre and Bruges ca n a ls; the Ostend and
Dunkirk canals, reaching the sea at different points; the Brussels c a n a l;
and the Louvain canal. The railways, likewise, owing to the flatness o f
the country, have been introduced with a success unknown even in Britain.
According to a law passed in 1834, it was provided that a system o f rail
road should be established in the kingdom which, having Mechlin for its
centre, should lead toward the east by Louvain, Liege, and Yerviers, to
the Prussian frontier; towards the north to A n tw erp; towards the west
by Termonde, Ghent, and Bruges, to Ostend; and towards the south, over
Brussels, and through Hainault, to the French frontier;— the costs o f the
execution, and the superintendence, to devolve upon the government, and
the tariff for the use o f the railroads to be fixed yearly by a law. The
works began immediately after the publication o f the law, and have since
been forwarded with great success. In 1839, they comprised an extent
o f 150 British miles ; while those which are decided upon towards France
will embrace a further distance o f 90 miles. So persevering besides is
the activity o f the government in the improvement o f the country, that
large sums are also voted for new roads and canals, although Belgium is
already so rich in the facilities o f communication. O f the public works,
not a few, such as the railroads for uniting the Scheldt and the sea with
the Rhine, and the constructions towards the German frontier, have been
projected with the view o f rendering comparatively unproductive to H ol
land the rivers which had secured to her the commercial monopoly o f the
Rhenish provinces, and the transit trade to Germany.
The external commerce o f the kingdom suffered from the revolution o f
1830, but it has again revived, and now shows a progressive improve
ment, corresponding with that which has occurred in the other branches
o f industry. The exports chiefly consist o f bark from the trees o f the
416
The Trade and Manufactures o f Belgium.
Belgian forests, o f which nearly 350,000 cwts. are annually exported to
Great Britain a lon e; seeds, especially clover, coal, o f which immense
quantities are annually sent to France, where it is received on more favora
ble terms than that from E n glan d; spelter, flax, hops, linens, lace, carpets,
and fire-arms; the last being sent in large quantities to Brazil, from whence
they are again exported to A frica in exchange for slaves. The imports
are principally composed o f tropical produce, especially coffee, tobacco,
and cotton, British manufactures, wool to the annual value o f £5 50,000,
chiefly from Germany, Poland, Hungary, and the southern provinces o f
Russia, and wine. The following account, abridged from the tables o f the
Board o f Trade, (vol. v. p. 338,) furnishes a general view o f the commerce
o f Belgium for the first four years after its separation from Holland.
VALUE OF IMPORTS INTO BELGIUM.
1831.
France . . . .
Holland
Prussia, Hanse
Towns, and
Germany,
Great Britain .
Russia . . . .
United States .
Cuba
. . .
Hayti
. . .
Brazil
. . . .
Other countries
1832.
1833.
1834.
£ 5 8 4 ,9 9 5 £ 2 ,249 ,7 68 £ 1 ,927 ,5 05 £1 ,425 ,9 52
730,426
404,419
348,399
1,073,436
i
>
)
.
1
V
y
448,474
1,550,224
54,463
1,166,399
1,284,820
1,064,743
3,289,102 .2,643,877
300,434
224,850
2,102,649
180,044
C 710,876
l 298,315
( 166,084
399,367
531,211
327,802
1,215,723
935,722
280,763
269,383
273,704
492,772
308,435
645,110
Total, £ 3 ,920 ,5 23 £9,336,301 £8 ,700 ,7 45 £ 7 ,952 ,6 77
VALUE OF EXPORTS FROM BELGIUM.
1831.
F ranee . . . .
Holland . . . .
Prussia, Hanse
Towns, and
Germany,
Great Britain .
Russia . . . .
United States .
Cuba
. . .
Hayti
. . .
Brazil
. . . .
Other countries
1832.
1833.
1834.
£ 1 ,684 ,7 49 £ 2 ,420 ,3 65 £2 ,226 ,6 18 £ 3 ,121 ,5 34
281,826
321,765
708,046
712,274
1
>
y
.
}
>
)
1,188,953
1,288,684
862,425
1,484,344
528,743
—
318,173
23,036
414,154
10,205
14,486
28,641
85,084
120,000
43,454
11,818
37,196
10,984
129,153
323,988
22,065
( 57,500
{ 24,825
(
72
16,694
114,754
Total, £3 ,862,211 £4 ,449 ,6 78 £4 ,4 4 6 ,6 6 9 £5 ,878 ,0 50
Since 1834 the trade has no doubt increased, though the shipping pos
sessed by Belgium still remains inconsiderable. At the revolution in 1830,
The Trade and Manufactures o f Belgium.
417
many o f the Belgian shipowners placed their vessels under the flag o f
Holland, as the latter retained all the colonies which formerly belonged
to the two kingdoms jointly ; and though some increase has since taken
place, yet, on the. 31st o f December, 1837, the number o f merchant vessels
belonging to the Belgian ports (including river ports,) was only 156, and
their tonnage 21,690 ; this included 5 steamers, but was exclusive o f about
100 fishing sloops. ( Board o f Trade tables, vol. vii. p. 286.)
The imports from the United Kingdom o f England consist partly o f
foreign and colonial merchandise, but chiefly o f British produce and man
ufactures. The declared value o f the latter imported from 1831 to 1838,
was as follow s: 1832, £6 9 0 ,8 9 9 ; 1833, £ 8 8 6 ,4 2 9 ; 1834, £ 7 5 0 ,0 5 9 ;
1835, £ 8 1 8 ,4 8 7 ; 1836, £ 8 3 9 ,2 7 5 ; 1837, £8 0 4 ,9 1 7 ; 1838, £ 1 ,0 6 8 ,0 1 0 ;
which last is equivalent to two thirds o f the British exports to Holland and
Belgium jointly in 1821. The imports from Britain chiefly consist o f
sheep’s wool, woollen, linen, and cotton yarns, machinery, iron, steel,
hardware and cutlery, especially the finer kinds, cotton manufactures and
small wares, woollen cloths, silks, brass, copper, and pewter manufactures,
and salt. A considerable portion o f these goods, especially the yarns
and cloths, are not intended for consumption in Belgium, but are smuggled
across the French frontier; this is partly done by dogs trained for the pur
pose by being pampered in France, and half-starved and otherwise ill-used
in the former country.
According to official returns, it would seem that there is a great dis
crepancy between the export and import trade o f the United States with
Belgium. For the year ending the 20th o f September, our imports from
Belgium were only $274,867 ; while our exports for the same period
amounted to— domestic produce $1,824,229 ; foreign produce $486,426 ;
total $2,320,565.
Out o f 28,000 bales o f cotton imported into Antwerp in 1832, more than
12,000 were received from Great Britain, while only 13,000 arrived from
the United States direct. The same proportion probably continues to be
preserved. Out o f 12,000 hhds. o f tobacco, more than 1,000 reached
Belgium through England. O f rice a large portion o f that grown in the
United States also reaches Belgium through Great Britain.
It is evident that the trade o f the United States and Belgium is not what
it ought to be, and that by proper efforts it might be materially increased.
The Belgians themselves earnestly desire a closer commercial connection
with us, and a free trade on both sides would be eminently advantageous.
The bonding yards are at Antwerp, Bruges, Brussels, Courtray, Ghent,
Liege, Louvain, Mechlin, Mons, Nieuport, Ostend, Ruremonde, Tournay,
and Venloo.
Belgium communicates with the sea by Antwerp, Ostend, and Nieuport,
by the canal o f Bruges to Oostburg, by the canal o f Dunkirk to Furnes,
by the canal o f Ghent to Terneusen, by the canal o f Termonde to Hulst,
by the Scheldt from Flushing to Antwerp, by the same river and the canal
o f W illebroek from Brussels to Antwerp, and by the canal o f Louvain and
the Scheldt from Louvain to Antwerp. But the only seaports o f any con
sideration are Antwerp and Ostend.
Antwerp, a strongly fortified and magnificent town, is situated in 51 deg.
14 min. north, and 4 deg. 22 min. east, on low ground, on the right bank
o f the Scheldt, where the river makes a considerable bend. Population
in 1838, 77,162. It is about 45 miles from the mouth o f the Scheldt,
VOL.
vi.— n o . v.
44
418
The Trade and Manufactures o f Belgium.
reckoning from Flushing, where vessels bound for Antwerp must take a
Dutch pilot as far as L illo. The river at Antwerp is about 400 yards
broad, and large vessels may sail up to the quay, and into a large basin;
the depth at low water in front o f the city being from 32 to 42 feet. Its
commerce is still considerable, though far below what it was in the fif
teenth and sixteenth centuries, when it had a population o f 200,000, and
2000 vessels annually entered its port. In 1829, 995 ships arrived ; 690
in 1830 ; and only 382 in 18 31 ; but since this last year the shipping has.
greatly increased, and in 1837 the number o f vessels which entered was
1426, and the amount o f their tonnage, 225,759.
Ostend, a fortified seaport o f W est Flanders, is situated in 51 deg. 10
min. north, and 2 deg. 54 min. east. Population, 11,390. It possesses
great facilities for carrying on trade with the interior by means o f railways
and canals. The town is almost surrounded by two o f the largest o f these,
particularly that leading to Bruges, into which ships o f great tonnage may
enter with the tide. The number that arrive annually is from 500 to 600.
MEASURES, WEIGHTS, MONOT, FINANCES, & C .
Measures and W eights.— The French metrical system was introduced
in 1820.
The following old measures are still partially used : The Antwerp silk
ell = 27.32 Imp. inches, and woollen ell = 26.97 Imp. inches; the Bra
bant ell = 27.58 Imp. inches; the aam o f 50 stoops = 3 2 | Imp. g a lls.;
the velte = 4.1 Imp. g a lls .; the last o f 37^ viertels = 1 0 1 Imp. q r s .; and
100 lbs. Brabant weight = 103.35 lbs. avoird. The Brabant league is
6076 yds.
The currency, owing to the long influence o f the French, has assumed
the French form, and is now counted in francs, centimes, and sous. The
florin is, however, still counted.
M oney.-—The general monetary unit is now the French franc, which is
divided into 100 centimes, and equal 9 id . sterling. In some places the
Dutch florin or guilder ( = Is. 8d. sterling) is still retained, particularly
in foreign exchanges ; and in others the Brabant florin; the latter is di
vided into 20 sous, each o f 12 deniers ; 6 florins Dutch or Netherlands
currency = 7 florins Brabant cu rren cy; 189 Dutch florins = 400 francs;
and 110 florins 5 sous Brabant currency = 200 francs. The national
coins are similar to those o f France.
The usance o f bills from London is 1 month’s date. N o days o f grace
are allowed.
Banks.— The Socittt Gtntrale pour favoriser VIndustrie, instituted in
1822, with a charter for 27 years, discounts bills, receives deposits, makes
loans, and in various ways facilitates commerce. Its capital (exclusive
o f a reserved fu'nd) consists o f 50,000 florins, or 105,820,000 francs,
(£ 4 ,1 6 6 ,6 6 6 ,) and it issues notes to the amount o f 40,000,000 francs, in sums
o f 5 0 ,1 0 0 , 500, and 1,000 francs. The Bank o f Belgium, at Brussels, was
founded in 1835, with a charter for 25 years. Its capital is 20,000,000
francs, and its banking operations are similar to the society just named.
Both are in part under the control o f the government, and possess numer
ous dependencies. In 1837, the Commercial Bank o f Antwerp was insti
tuted with a capital o f 25,000,000 francs; and numerous other institutions
o f the same nature exist in different parts o f the kingdom.
Finances.— The public revenue in 1839 amounted to £4 ,163 ,8 21 ; the
The Russian Insolvency Laics.
419
expenditure to £4 ,476 ,6 13 . The national debt consists, 1st, o f 100,000,000
francs, borrowed in 1831-32, at 5 per cent, chiefly for the organization
o f the arm y; 2d, o f 30,000,000 francs, borrowed in 1836, at 4 per cent,
for railways and other means o f communication ; 3d, o f a floating debt o f
25,000,000 francs, at 31 per cent, principally for railways and roads ;—
total, 155,000,000 francs, or £6 ,200 ,0 00 . This is exclusive o f the B el
gian portion o f the debt o f the Netherlands.
A r t . III.— T H E R U S S IA N IN S O L V E N C Y L A W S .
I n a previous number o f the Merchants’ Magazine we gave a brief ex
planation o f the Russian Law o f Co-partnery in Trade, we now proceed to
lay before our readers the substance o f the Russian Insolvency L a w s :
A ll cases o f insolvency belong to the competency o f the local commer
cial court under which the debtor, and the majority o f his creditors reside.
In towns where there is no com m ercial court, the magistracy supplies its
place.
A state o f insolvency is established in court, by the discovery or de
claration o f the incapacity o f a merchant, a licensed trader, or tradesman,
to discharge debts claimed on him to an amount exceeding £ 2 5 0 , (S. R .
1,500,) this involving a surrender o f the debtor’s estate to his creditors,
with investigation and judgment o f his conduct.
Insolvency is prejudicial to a debtor in three degrees, according to the
causes from which it has arisen, namely : it is deemed unfortunate if
caused by a concurrence o f unforeseen circumstances and losses without
the fault o f the debtor ; or it is deemed careless or simple when he is found
guilty o f evident mismanagement or levity, without intentional fraud ; and
lastly, it is deemed fraudulent when the debtor is found guilty o f fraudu
lent deeds and practices.
A private compromise between a debtor and his creditors, in which the
latter allow him respite o f payment, with assistance in the management o f
his affairs, does not constitute insolvency, nor can any one be deemed to
be in that predicament unless the declaration is made in court.
A merchant declared by the court to be in a state o f insolvency, is, on
the same day, taken into custody, unless his creditors consent to admit
him to bail. E very insolvency is officially announced in the gazettes o f
both capitals, and in that published by the Senate, and special notices are
affixed upon the exchange, in the commercial court, and in the town-hall,
bearing an order for sequestration o f the debtor’s property, an injunction
to his debtors to give up and discharge what they owe him, and a sum
mons to his creditors for giving in their claims, which has to be done in
the course o f a fortnight from publication by those residing at the same
place with the debtor, or in four months if resident at other parts o f the
empire, and in twelve months i f resident abroad.
The court forthwith appoints one or more sworn guardians to take charge
o f the cash, goods and chattels, books, accounts, and correspondence o f the
debtor, found in his possession, making an inventory thereof, and the debtor
is at the same time put to an oath, to discover and give up all he possesses.
This is done by the police, in the presence o f such creditors as reside on
420
The Russian Insolvency Laws.
the spot and appear at the summons. After this the sworn guardian, be
ing assisted by creditors on the spot, takes the place o f the debtor in the
management and realization o f pending transactions, until a board o f
assignees can be instituted.
A s soon as the majority o f creditors, by amount, have appeared person
ally, or by proxy, and given in their claims, the guardian o f the estate calls
a meeting for the election o f assignees, to compose a board o f managers,
for which two or more persons are chosen by vote, and may be parties not
concerned, with a president, who must needs be a creditor himself. If, at
the expiration o f a fortnight from the publication o f insolvency, no meeting
o f creditors has taken place for electing a board o f managers, the court,
ex-officio, appoints some o f the creditors to that charge. Such a board o f
managers constitutes a lower commercial court for the special occasion,
and is attended by a secretary or writer. It is entitled to require the aid
o f local administrative and executive authorities, as occasion may appear,
and the institution o f the £>oard is announced in the papers.
The board o f managers supersedes the guardian in taking charge o f the
debtor’s estate and books, investigating the latter, realizing the property,
calling in the outstanding debts, and examining the claims given in by
creditors according to law.
The claims o f the creditors, after having been examined and vouchers
produced, are by the board arranged into four classes, namely : 1. P refer
able claims, entitled to payment in fu ll; 2. Undisputable common claims,
entitled to dividend ; 3. Disputable common claims, requiring to be investi
gated and awarded by courts o f justice, in order to become admissable to
participation in dividend; and 4. Claims not filed within the time prescrib
ed by the publication o f insolvency.
The preferable claims comprise money due to the church ; taxes, duties,
and rates due to governm ent; claims on mortgages or other special hy
pothecary securities, to be paid in full for redeeming those securities;
money belonging to orphans, that are under the guardianship o f the debt
or ; wages due for the six months preceding the declaration o f in solven cy;
claims o f bakers, butchers, and the like, for victuals furnished to the house
during the preceding four m onths; claims o f innkeepers for board and
lodging o f the debtor and his fam ily, during the preceding six months ;
claims o f street pavers and other workmen employed in housebuilding;
claims for the freight money o f g ood s; claims o f brokerage for the last
y e a r ; expenses o f the guardian and assignees o f the insolvent’s estate.
The claims o f this class are to be. discharged out o f the first sums o f mon
ey received by the board o f managers. I f the assets prove even insufficient
for discharging all the claims o f this class in full, then those o f the church
take precedence for payment in full, the rest being discharged pro rata o f
the means left.
The undisputable common claims, entitled to dividend, comprise those due
to government, to the loan and commercial banks, and to private creditors,
without special securities, with the interest due thereon for twelve months
before insolvency.
The disputable common claims are not excluded from the account, but
only admitted to participation in dividend according as their validity be
comes adjudged to the claimants by the proper courts.
The claims not filed in proper time are thrown out, unless the claimants
can plead that the delay was occasioned by extraordinary circumstances
The Russian Insolvency Laws.
421
having prevented their giving them in. T o this class also belong claims
on bonds without security, if the bonds had not been registered by a notary
within eight days after their date, nor the amount been claimed before in
solvency within three months after maturity ; or such as were claimed,
but not presented for obtaining payment when d u e ; and lastly, debts not
claimed before the insolvency, though due upwards o f twelve months.
In regard to what is legally deemed as constituting the estate o f the in
solvent, the board o f managers have not only to claim all reputed property
o f the insolvent found on hand, but also all immoveable property o f his,
pawned or granted by him to his wife, children, or relations during the
preceding ten years, without payment actually received, or estranged to
such holders at a time when he appears to have already been insolvent,
by his debts having exceeded his property by a hundred per cent or more,
because under such circumstances the property estranged did not at the
time belong to the debtor, but to his creditors, and it must be returned to
his estate, if not already legally re-disposed o f by the relatives to others,
and i f it is found to be m erely re-pawned by them to such other persons,
then the board may buy it in.
I f the wife and children o f the insolvent had no share in his business,
then their private property does not belong to the estate. Such private
property comprises, 1st. The w ife’s dowry, by an inventory signed by her
husband before marriage, together with her inheritance and grants or gifts
from her relations or friends, except from the husband ; also, the increase
o f such property by investment. 2d. The children’s inheritance from
relations and others, with grants and gifts not derived from the father. If
such property have been intrusted to the insolvent, and this be proved by
proper documents, his wife and children rank with the second class o f
creditors entitled to dividend.
Moveable and immoveable deposits and pawns, or articles intrusted to
the insolvent for preparation or manufacture, i f he be a manufacturer or
tradesman, do not belong to the estate, and are returned to the owners.
Property intrusted to him at interest by guardians o f orphans, o f money
belonging to the latter, is only entitled to dividend ; but i f he himself
was the guardian, having charge o f such property, it does not belong to
the estate, but is reserved for the orphans in full, with the interest due
thereon ; and the bankrupt having employed such moneys for his private
purposes is impeachable for such a criminal abuse o f his duty as a
guardian.
A ll goods or merchandise found on hand, unless they have been bought
and received within ten days o f the publication o f insolvency, without the
condition o f credit, and not yet paid for, in which latter case such goods
are returned to the seller, but i f bought on credit, then they belong to the
estate.
W hen goods had been purchased by the insolvent on order, i f the bills
o f lading or carrier’ s receipt have already been sent on, but the payment
o f the invoice amount have not been yet received, or if even drawn for,
payable after a certain time, yet a doubt existing o f the drafts passed be
ing duly protected and paid, in such case the board o f managers, as the
circumstances o f the case may require, must endeavor to preserve the
estate from loss, either by unloading and retaining the goods, paying one
h alf o f the freight agreed for as indemnity to the shipmaster or carrier,
provided the ship is not entirely loaded, or if the ship’s loading be com44*
422
The Rtissian Insolvency Laws.
plete, and the vessel cannot be stopped, then by sending another copy o f
the bill o f lading to a second party at the port o f destination o f the goods,
with instructions to stop the goods until this holder o f the second bill o f
lading shall have satisfied himself, on behalf o f the assignees, o f the due
protection and payment o f the drafts passed by the insolvent. I f the ship
ment o f goods have been made in consignment for sale, on account o f the
insolvent, and the unshipment appear connected with considerable loss to
the estate, then the board o f managers, i f they deem it best, may let the
goods take their course, instructing the consignee to remit the proceeds to
them. These rules are also applicable to goods despatched by land.
W henever goods bought at other places in Russia, or abroad, on account
o f the insolvent, have got into his possession before his declaration o f in
solvency in court, then they belong to his estate; but i f they arrive after
such declaration, then they do not belong to the estate, except there be a
balance due to the insolvent from the shipper, equal to the amount o f the
goods ; or the insolvent should before declaration, have accepted drafts on
him to the amount o f such goods.
Goods sent to the insolvent in consignment, having got into his posses
sion before the declaration o f insolvency in court, belong to the estate, and
the consignor is only entitled to a claim o f dividend for the amount o f the
nett proceeds, the same as other creditors. This is also the rule with re
gard to goods, despatched in consignment, if, though not yet received, the
same be proved to have been sold by the insolvent before his declara
tion o f insolvency, on bill o f lading and invoice, and the money received
by h im ; the transaction having in such case been concluded before the
declaration. I f such goods, coming in consignment, have before arrival
been sold on credit, without the bankrupt’s guarantee o f the buyer, (the
charge for delcredere not having been made to the consignor,) and the
bu yer’s bill received, be still in the possession o f the insolvent, untrans
ferred to other hands; then such bill supplies the place o f the goods, and
has to be delivered up to the consignor as his property, on receiving from
him payment o f the charges disbursed on the goods, with commission.
But i f the bankrupt have guaranteed the buyer, and made an adequate
charge, then the bill belongs to the estate; and the consignor o f the goods
is only entitled to claim dividend ; while the party who bought the goods,
and paid the amount, or gave a bill in lieu thereof, is entitled to receive
them as soon as they arrive by sea or by land.
Goods ordered by the insolvent on account o f others, and arriving after
his declaration o f insolvency in court, though the bill o f lading and invoice
may have been received before, do not belong to the estate, and are held
at the disposal o f the person for whom they were ordered. The shipper
o f such goods, i f he be still creditor for the amount already received by
the bankrupt from the party, who ordered- the goods through the bankrupt,
has to claim dividend on the estate. A bankrupt having ordered and im
ported goods by order o f a neighbor, and received from the latter the
amount in advance, but sold the goods by bill o f lading to some other per
son before his declaration o f insolvency, thus fraudulently depriving the
party who ordered them, o f his property, is impeachable o f fraudulent
bankruptcy.
I f there be goods on hand with the bankrupt, intrusted to him before his
being declared insolvent, in his capacity o f commission agent,, simply for
the payment o f duties, and for forwarding o f the goods to an ulterior des
The Russian Insolvency Laws.
423
tination ; such goods belong to their owner, and must be delivered up to
him or to his proxy without delay, on payment o f duties and charges dis
bursed by the bankrupt. I f it be discovered that the bankrupt having had
to act simply as a forwarding agent, has, without the consent o f the party
for whom the goods were destined, sold the same, or transferred the bill
o f lading to others, receiving the amount, then be is also impeachable as
a fraudulent bankrupt; while the buyer is not answerable, unless it be
proved that he had been privy to, and participated in the fraudulent
design.
The board o f managers have to come to a conclusion whether the insol
vency is to be deemed unfortunate, or careless, or fraudulent, the latter
being a criminal case. I f it be deemed unfortunate, they may with the
consent o f the court, and without awaiting a general meeting o f creditors,
liberate the insolvent immediately from custody, without requiring bail.
The board o f assignees having fulfilled all their duties as above enu
merated, fix a time for a general meeting o f the creditors, whose claims
are admitted. Such a meeting is deemed full, i f the number o f creditors
appearing own two thirds o f the gross amount o f debts. The board have
to lay before the meeting— 1st. A detailed report o f their transactions ;
2d. An account o f assets and debts; 3d. A computation o f dividends;
and 4th. A conclusion concerning the causes o f the insolvency. The
meeting either approves o f and confirms, or if necessary, modifies the ac
counts and proposals o f the board for bringing matters to a termination.
I f the meeting find that the board o f managers have been guilty o f any
neglect o f duties or abuse o f power, they report the same to the commer
cial court, which investigate the charges brought against the board, ap
pointing a new president, and the meeting immediately proceed in electing
new assignees from amongst themselves; nor can the court refuse to ap
point a new president to such new board o f managers. This intermediate
question being at rest, or set to rights, the meeting comes to a final con
clusion— 1st. Concerning the realization o f the property still remaining
on hand ; 2d. Concerning the final classification o f the claims and the rate
o f dividends to be paid ; and lastly, respecting the degree o f guilt to be
attributed to the insolvent debtor.
I f the insolvent be pronounced unfortunate, the consequences a r e : 1st.
Liberation from prison, if he be still in custody; 2d. Restoration o f a
character o f honor, the same as if he had not failed, and relief from fur
ther responsibility; and 3d. Awarding to the insolvent and his family, o f
such part o f the assets, in the shape o f a voluntary gift, as his misfortune
and good conduct may appear to them to deserve.
The consequences o f careless failure are : 1st. Continuation o f imprison
ment, doing aw ay bail, for a period o f from one to three years, including
the time he may already have been in custody ; leaving it to the court to
mitigate the sentence; 2d. The total loss o f the right to carry on trade,
which he can subsequently only resume with the special consent o f his
creditors, on his prevailing on them to grant such consent before the court.
If, in the mean while, the careless bankrupt gets into possession o f property
by inheritance, gift, or otherwise, the whole o f it is claimed by the admit
ted creditors, in further discharge o f his debts ; and this also applies to
property acquired by him in trade resumed with the consent o f his credi
tors ; in this latter case however, his new creditors in business have pre
424
The Russian Insolvency Laws.
ferable claims to be paid in full, before the old ones can come in for a
share.
The consequences o f fraudulent insolvency are : 1st. Impeachment o f
fraud in the criminal court, and o f perjury, if after making oath, to dis
cover and give up all his property, the debtor shall have attempted to con
ceal any part o f i t ; 2d. Criminal impeachment o f any parties that have
been privy to, or instrumental in committing the fraud ; 3d. Restitution of
payment made to the accom plices in part o f fraudulent transactions and
claims, such sums belonging to the estate; the criminal court inflicting
punishment according to law. Such conclusions o f the meeting o f the
creditors are submitted to the confirmation o f the commercial court, and
then published in the public papers o f both capitals.
A private compromise entered into by a bankrupt during the six months
preceding his declaration o f insolvency in court, with part o f his creditors,
to the prejudice o f others in the same predicament, is void. Such a com
promise can only be valid— 1st. I f concluded in a general meeting o f
creditors at the expiration o f legal summons for making cla im s; 2d. I f in
such meeting two thirds o f the creditors by amount o f claims, have assent
ed ; 3d. If confirmed by the commercial court. Such a compromise may
also be entered into under a board o f managers in concursu, and i f con
cluded, supersedes it, with a cessation o f legal proceedings in court.
The guardianship o f an insolvent estate is entitled to a remunerative
commission o f 1 per cent on all property realized under it, not exceeding
about £ 1 4 ,0 0 0 , and o f i per cent on the surplus. The creditors may
award more. The board o f managers, including the president, are jointly
entitled to a commission o f 2 per cent o f the amount o f assets realized.
Russian, as well as foreign merchants, and other trading classes, are
bound to keep regular books, according to the forms prescribed for the
different classes o f trade, and to balance the same annually, towards
ascertaining the state o f their property. Books regularly kept have the
strength o f h alf or full proofs in disputes, under the respective circum
stances, prescribed by the laws. In lawsuits it is optional with a solvent
merchant, to produce or not to produce his books by w ay o f p ro o f; but in
questions concerning inheritance and co-partnery, when one o f the litiga
ting parties refers to their contents, the court may order the production o f
the books in court, or to a member o f the court, for the perusal o f certain
passages therein, but even then they need not be delivered up or left in the
court. In all other cases a solvent merchant’s books constitute a sacred
secret o f his own, which nobody is allowed a right to encroach upon or
divulge.
In cases o f insolvency declared in court however, the books, as above
stated, are taken from the debtor by the guardian, and then delivered to
the board o f managers for examination and investigation. If they be
found deficient or incorrect, the debtor is impeachable o f fraudulent bank
ruptcy without benefit o f justification. The severity o f this law can only
be mitigated in regard to petty dealers and shopkeepers, the amount o f
whose business does not exceed about £ 4 7 0 per annum, the creditors as
sembled being allowed to decide, whether their irregularity is to be con
sidered as having arisen from fraudulent intention or not. Books must
have been preserved and be found in existence for the last ten years pre
ceding failure. The Russian code o f laws contains the most minute in-
425
Iron Trade o f Sweden and Norway.
structions and details regarding the kind o f books required to be kept by
each class o f merchants, according to the nature o f their trade, with com
plete proforma sets.
A rt . IV .— IR O N T R A D E O F S W E D E N A N D N O R W A Y .*
S weden has been long celebrated for its mines and mineral produc
tions, particularly iron, which still forms one o f the principal exports, al
though it has much decreased o f late years. B y an account taken by the
government in the year 1748, we find that, at that time, there were 496
foundries, with 539 large hammers, and 971 small ones, for making bar
and other manufactures o f iron, w hich produced 304,415 ship-pounds,
(71 to a ton,) or nearly 40,600 tons.
The government established an office in 1740 to promote the production
o f iron, by lending money on the ore, even at so low a rate as 4 per cent. ;
a correct register was then made o f the mines, which is still continued.
Each forge has its particular mark stamped on the bars o f iron it produces,
which is correctly copied into the manuscript, with the name o f the place
where the establishment is situated— the names o f the proprietors o f the
work— the commissioner or agent for the sale o f the iron— the assortment
each makes, and to what country it is generally shipped— the quantity
annually made by each work— the quantity which each work delivers to
the government (w hich is about 1 per cent on the quantity o f the iron pro
duced)— the estimation o f the quality o f the iron o f each work, which is
variable— the place and province in which the works are situated— the
place from whence the iron is generally shipped— and how many hammers
each work has— all which particulars are regularly and alphabetically
described and arranged.
A s the working o f the mines is attended with considerable expense, and
the sale o f the iron uncertain, the Bank o f Stockholm receives that metal
as a proper security for a loan. The iron being duly appraised, and lodged
in the public warehouse, the proprietor receives three fourths o f its value,
at the interest o f 3 per cent, and when he can find an opportunity to dispose
o f his iron, it is again delivered to him, on producing a certificate from the
bank, that the loan upon it is duly discharged.
The following account o f the state o f the forges, producing 1500 shippounds o f iron and upwards, is taken from the “ V oyage de deux Franjais,
dans le Nord de l ’ Europe ; 1 7 9 0 -9 2 .”
It is to be observed that they only
speak o f those forges o f which the produce is taken to Stockholm :—
Name.
Axm ar
Malingsbo
Bakkammar
Boggo
.
.
.
.
.
.
.
.
Province.
Shipp'ds.
Gestricia . .
D alecarlia .
Westniania .,
Ditto . . .
1,500
1,500
1,750
2,127
Quality.
g
g
g 8,- m
m
No.
2
2
2
3
* Prepared chiefly from Scrivenor’s “ Comprehensive History of the Iron Trade,
throughout the world, from the earliest records, to the present period,” published at
London, 1841.— Ed. M ag.
426
Iron Trade o f Sweden and Norway.
Forsbacka
Gestricia . . 1,600
W illingsberg
JVericia . . 1,800
W atolm a .
Upland . . 2,000
Bjorkborn and Bseufors
W erm eland . 2,070
Lasona
N ericia . . 1,748
Gammelbo
Westmania . 2,875
VVirsbo
Ditto .
1,725
Larsbo
D alecarlia . 2,200
Engelsberg
Westmania . 1,539
Forsmark
Upland . . 2,875
Maroker .
Helsingia
2,450
Graninge .
Angermannia 2,000
Gimo, Romseus, and Robersfors Upland . . 2,875
Finoker
Westmania . 1,943
Helsingia
Kihlafors .
2,000
D alecarlia . 2,450
Gravendahl
Lsefta
Upland
9 to 10,000
N ericia . . 1,725
Hasslefors
Austerby .
Upland
5 to 6,000
Medelpadia . 1,525
Loegdseu and Logfors .
Angermannia 2,000
Olorsfors .
Finland . . 1,500
Koscis
Kerby
Upland .
2,000
Smoland
Paulitstrseum
2,400
W estmania . 2,025
Romnaes .
Bernshammer
Ditto
. . 1,950
Longwind
Helsingia . 1,600
Upland . . 2,275
Schebo
Gestricia
1,600
Niksiaeu
Upland . . 3,100
Strom berg and Ulfors .
Gestricia
1,625
Haugbo
Helsingia . 1,900
W oxna
N ericia .
1,500
Krakfors
Upland . . 1,840
Suderfors .
Gestricia
1,800
Gysinge
Ferna
Westmania . 2,400
Gestricia
Tolfors
1,800
Ostrogothia . 1,810
Finspong .
D alecarlia . 2,400
Laedvieka .
Upland . . 3,400
Hargs
m, middling ; g , good ; r s, red-short; b, best.
m
'
g
g
m
r s
g
m
g
m
g
g
r s
r s &f m
g S/-b
g
m
m
g
g fy b
m
m
m
g
m
g
r s
m
g
m
g
g
m
g
g
b
g
m
g
m
m
g
2
2
3
3
2
4
2
4
3
4
3
3
7
3
3
4
6
2
4
2
3
2
3
4
3
2
2
3
2
4
2
3
2
5
2
4
2
4
3
5
There are in all 299 large forges, which furnish 227,507 ship-pounds,
besides 92 small ones belonging to a company o f peasants, furnishing
18,236 ship-pounds.— Total, 245,743 ship-pounds. These forges employ
373 ham m ers; there are, besides, twelve inconsiderable forges, o f which
neither the hammers nor the products are stated.
The iron mine o f Dannemora, the most celebrated in Sweden, is situated
in the province o f Upland, about one English mile from Osterby, and
thirty English miles north o f Upsala. This mine was discovered in the
year 1448, and though it has now been wrought for nearly four centuries,
it still yields abundance o f the best iron in Europe.
Iron Trade o f Sweden and Norway.
427
The iron mine is on a hill so little elevated above the surface o f the
neighboring country as easily to escape observation. It is about two
English miles long, and nearly h alf a mile broad ; it is almost surrounded
by lakes, those o f Dannemora, Films, and Grufve, lying quite contiguous
to it. On the side where there are no lakes there is a turf moss. The
ore forms a large vein in this hill, which stretches in a northwest and
southeast direction. The mine was some years ago inundated by the
water from the adjacent lakes ; a strong wall, however-, has been built to
keep off the water. It is drained by two steam-engines, kept at work by
means o f wood for fuel.
It was first wrought as a silver mine, the silver being extracted from
galena. This source o f emolument soon failing, or becoming unproduc
tive, the iron ore began to be extracted and smelted, and the excellent
quality o f the iron gradually drew to it the attention o f the public. At
first it belonged to the king o f Sweden, but that monarch consigned it over
to the Archbishop o f Upsala as a part o f his revenues ; at present it be
longs to a number o f private individuals, who work it separately, each on
his own account.
At the side o f the mine is a large opening, about fifty fathoms deep and
fifty wide, and at the lower part o f this is the entrance to the mine, which
is wrought about thirty fathoms deeper than this opening. The mines are
thus described in “ Coxe’ s T ravels,” who visited them in the year 1790 :
“ The pits are deep excavations, like gravel pits, and form so many abysses
or gulfs. The descent is not, therefore, as is usual in -mines, down a narraw subterraneous shaft. At the side o f the mine I stepped into a bucket,
and, being suspended in the open air, in the same manner as i f a person
was placed in a bucket at the top o f Salisbury spire, was gradually let
down to the ground by a rope and pulley. The inspector accompanied
me to the bottom, and while I was placed at m y ease in the inside upon a
chair, he seated himself on the rim o f the bucket, with his legs extended
to maintain the equilibrium. He had in his hand a stick, with which he
gently touched the sides o f the rock, and the rope o f the ascending bucket,
in order to prevent our bucket from swerving against them, which must
have infallibly overset us.
“ W h ile hung suspended in mid-air, and so giddy that 1 could not ven
ture to look down, I observed three girls standing on the edge o f the as
cending bucket knitting, with as much unconcern as i f they had been on
terra firm a ; such is the effect o f custom. W e were about five minutes in
descending, and the dtepth which we reached before I stepped out o f m y
aerial seat was 500 feet. Not being a mineralogist, m y curiosity was
soon satisfied ; I again got into the bucket, and was drawn up in the same
manner.
“ The inspector informed me, that the richest ore yields 70 per cent o f
iron, the poorest 30— that, upon an average, the collective mass gives one
third o f pure mineral— that about 12,000 tons are annually drawn from
the mines, which yield about 4,000 tons o f bar-iron.
“ The mass o f ore occupies a small compass. The length o f the pits,
considered as one, is 760 feet, and the breadth from three to twelve. The
ore runs from east to west. The richest ore is near 500 feet in depth,
and the Storoe Grube is not yet fathomed.
428
Iron Trade o f Sweden and Norway.
“ The matrix o f the ore being a calcareous earth, consequently contains
but little sulphur, which is, perhaps, the reason o f its superior quality.”
The ore is blasted with gunpowder. The part o f the vein which lies
under the great opening, which forms the mouth o f the mine, is called star
rymning; it constitutes by far the greatest portion o f the mine. The next
portion is called jord grttfva (earth mine,) and it yields the ore o f the very
best quality. The portion furthest south is called sodra grufva, or south
ern mine ; it yields the worst kind o f ore o f all the three, probably from
being mixed with galena and blende. The rock through which the vein
runs is said to be quartz. The substance immediately contiguous to the
vein appeared to Dr. Thomson to be hornstone, and to contain hornblende.
The ore itself contains limestone, quartz, and actinolite, and affords from
25 to 75 per cent o f cast-iron. In the worst kind o f ore Dr. Thomson
also perceived blende, fluor-spar, galena, and amethyst, but in small quan
tities. Carbonate o f lime, crystallized in dodecahedrons, also occurs in
this vein ; and likewise sulphate o f barytes, mountain cork, and the aplome
o f Haiiy.
The ore is broken into small pieces, and roasted; it is then put into
conical-shaped furnaces, constructed o f the slag from cast-iron. In these
furnaces it is mixed with the proper quantity o f charcoal, and then melted
and separated from the slag. T h e cast-iron obtained in this manner is as
white as silver, completely crystallized, and very brittle. The cast-iron
is reduced to malleable iron by heating it in a bed o f charcoal, and ham
mering it out into bars. In this state it is whiter than common iron, and
is less liable to rust, is distinctly fibrous in its texture, and much stouter
than any other iron.
The quantity o f iron which this mine yields every year, amounts, as
before stated, to about 4,000 tons ; the whole o f it is sent to England, to
the house o f Messrs. Sykes, o f H ull, where it is known by the name o f
Oregrund iron, taking its name from the port at which it is shipped.
The first, or best, marks are ( lT)> which sells at 407. per ton.
«
CL°\
“
3 9 7.
“
while the best Russian mark, the C .C .N .D ., seldom fetches a higher price
than 207. per ton.
The cause o f the superiority o f the Dannemora iron has never been ex
plained. Some chemists ascribe it to the presence o f manganese. Ber
zelius attributed it to the presence o f the metal o f silica, while others sup
pose it to arise from the nature o f the process employed. Dr. Thomson
was assured by one gentleman, who had bestowed particular attention to
the subject, that by following a similar process he has obtained as good
iron from other Swedish ores. But that something is due to the ore itself
is evident from the circumstance, that the quality o f the iron, though the
same process is followed, differs a good deal, according to the part o f the
vein from which the ore is taken.
In the neighborhood o f the mines are establishments for forging the
iron, and for the accommodation o f more than 300 workmen and their
Iron Trade o f Sioeden and Norway.
429
families. E ach o f the little villages has three or four regular streets, oft
en planted with trees, a church, a school, and an hospital.
The whole make o f iron in Sweden was, in the year 1803, 364,315 shippounds, or about 48,000 tons, taking 7 l ship-pounds as a ton E n g lish ; in
1812 it had increased to 431,137 ship-pounds, or about 60,000 tons.
In 1833 there were in the whole o f Sweden from 330 to 340 smelting
furnaces, producing 90,000 to 95,000 tons o f pig-iron; in converting this
into bar-iron, about 23 per cent is allowed for waste, and as near as can
be ascertained the annual manufacture o f this latter is 63,000 to 65,000
tons. The number o f ironw orks is about 420 to 430, having about 1,100
forge hammers. The annual export o f bar-iron, on an average o f ten
years, ending 1831, was 49,568 tons. The smelting furnaces and iron
works are licensed for a particular quantity, some being as low as 50
tons, others as high as 400 to 500 tons per annum ; some few bar-iron
works draw licenses for 1,000 tons each. The licenses are granted by
the College o f Mines, which has a control over all iron works and mining
operations. T h e iron masters make annual returns o f their manufacture,
which must not exceed their privilege, on pain o f the overplus being con
fiscated, and the college has subordinate ^courts, called courts o f mines, in
every district, with supervising officers o f various ranks ; and no iron can
be sent to any port o f shipment without being landed at the public weighhouse, the superintendent o f which is also a delegate o f the college, and
his duty is to register all that arrives, and to send his report quarterly to
the college. It is impossible for an iron master to send to market more
than his license. Many, however, sell at the forges to inland consumers,
returns o f which are never made, and so far licenses are exceeded, but it
is supposed this excess cannot be above 3,000 tons.
There is no chance whatever o f the manufacture o f iron in Sweden be
coming free— on the contrary, there is much greater probability o f its de
crease, as in those parts o f the country where iron works are established
there are already as many forges as the neighboring forests can supply
with charcoal. I f there are proprietors o f forests on which they can prove
that iron works have not been privileged in former times, in that case the
government cannot refuse to grant the right o f erecting works in proportion
thereto— but, except either very far north, or far in the interior, there do
not exist such woods.
It does not always follow that the forests belong to the proprietors o f the
iron works, but they have, nevertheless, the right o f purchasing all the
charcoal sold from these woods. W e may consider the case in this man
ner :— A person, a century back, who had 20,000 acres o f forest, may
have obtained the privilege o f manufacturing 200 tons o f iron annually ;
the estate in the lapse o f time has become divided amongst a number o f
heirs, or has been sold in lots to different persons; but the proprietor o f
the iron works still retains the right to the charcoal o f the whole, i f any is
made, for sale.
There is no department in Sweden conducted with more fairness than
the College o f Mines, which manages these matters.
T he following tables exhibit the quantity and different kinds o f iron ex
ported from Sweden in each year, from 1831 to 1838 ; also the countries
to which it was exported in the same period.
VOL. vi.— no. v.
45
430
Iron Trade o f Sweden and Norway.
IR O N E X P O R T E D F R O M S W E D E N F R O M 1831 T O 1838.
DESCRIPTION.
1831.
1832.
1833.
1834.
Bar-iron*........................................
Pig-iron..........................................
Iron not specified..........................
Round iron...................................
Spike iron......................................
Sheet iron.....................................
Nails..............................................
Nail rods........................................
Hoop iron.....................................
Castings, cannon, balls, & c.........
Saltpan plates...............................
Anchors, anvils, & c.....................
Ploughshares.................................
Hardware......................................
Scrap iron.....................................
Manufactured iron.........................
Old cannon....................................
Retorts...........................................
Chain cables..................................
Machinery.....................................
427,995
6,097
1,949
1,333
5,349
2,153
9,125
1,087
2,309
2,905
176
79
356
1,063
2,922
1,156
401,376
7,022
739
1,546
8,789
2,009
7,505
627
2,454
3,816
187
213
370
83
2,996
842
115
423,400
6,627
838
1,750
2,961
1,963
7,760
537
2,273
7,214
158
175
584
215
2,270
789
32
400,175
6,476
658
1,409
2,250
1,798
8,422
849
1,783
5,307
123
249
508
10
1,669
831
466,054
62,141
440,689
58,759
459,546
61,273
432,517
57,669
Total ship-pounds.............
“ tons..........................
IRON EXPORTED FROM SWEDEN FROM
1831
TO
1838.
Continued.
DESCRIPTION.
1835.
1836.
1837.
1838.
Bar-iron.........................................
Pig-iron..........................................
Iron not specified..........................
Round iron....................................
Spike iron.....................................
Sheet iron.....................................
Nails...............................................
Nail rods........................................
Hoop iron......................................
Castings, cannon, balls, & c.........
Saltpan plates.................................
Anchors, anvils, & c .....................
Ploughshares.................................
Hardware.......................................
Scrap iron......................................
Manufactured iron.........................
Old cannon...................................
Retorts...........................................
ChaiiT cables.................................
Machinery.....................................
493,601
5,762
778
2,286
3,985
4,821
4,745
780
2,945
4,561
157
70
382
16
2,651
929
. .
470,627
9,749
24,381t
2,234
3,744
2,326
6,303
884
2,037
7,670
98
65
552
35
2,012
548
336,883
7,485
38,674
2,182
1,488
2,055
7,970
652
2,791
8,119
67
96
577
103
3,449
517
543,329
10,336
26,140
2,664
4,054
2,626
7,816
779
1,944
7,228
213
98
1,044
105
3,844
424
473
25
7
30
413,133
55,084
613,154
81,754
Total ship-pounds.............
“ tons..........................
* Ship-pounds,
..
528,469
70,463
533,265
71,102
to a ton.
t In 1836 seventy tons o f pig-iron were sent to England ; with this exception, the
whole o f the pig-iron went to Finland.
trifling exception.
Iron not specified also goes to Finland, with a
431
Iron Trade o f Sweden and Norway.
IRON E X P O R T E D F R O M S W E D E N FR O M 1831 T O 1838.— Continued.
SPECIFICATION ; A N D COUN TRIES TO W H IC H E XPO R TE D .
1831.
CO UNTRIES TO
W H IC H E X P O R T E D .
1832.
1833.
1834.
Other
Other
Other
Other
Bars.
iron. Bars.
iron. Bars.
iron. Bars.
iron.
Tons.
Tons.
Tons.
Tons.
Great Britain and Ireland.... 11,907 . 55 11,717.
United States o f America.... 23,133. . 683 20,002.
5,398.
France...................................... 3,810
261. . 320
329.
N o r w a y ..................................
661.
.1268
617.
Finland....................................
..
Russia......................................
Prussia..................................... 4 ,o ji .1010 2,944.
Denmark................................. 3,557 . 930 3,926.
German Slates......................... 4,383 . 540 3,724.
Portugal................................... 2,052 . 104 1,319
Holland.................................... 1,110 . 113 1,658.
B elgium ..................................
..
Austria......................................
2
204
27.
4
Spain.......................................
94 .
6
25
Gibraltar.................. ...............
..
..
Greece......................................
353 .
5
321.
East Indies..............................
1,490 . 39 1,505
Brazil.......................................
Other parts o f S. America...
..
..
W est India Islands................
..
A frica......................................
Total....... 57,066. .5075 53,516.
. 62 13,021. . 12 11,509. . 49
.1222 20,644. . 343 19,618. . 287
. 36 5,820 . 40 6,304. . 11
. 79
251. . 304
144. . 129
.1449
851. .1455
719. .1370
1
1 . 70
. 862 2,419 . 722 2,740. . 892
. 788 4,330 . 960 3,442. . 844
. 546 4,707 . 607 4,712. . 421
. 68 1,098 . 55 1,093. . 53
. 66 1 302 . 107 1,215. . 80
337. .
..
2
3 o i . . 36
175
26
. 17
395. . i i
87
2
5. . 73
.
3
67. .
624 . 28
3
654. .
. 11
853 . 27
3
..
58 . . 45
..
..
32
254 .
6
16 . 56
44.
.5243 56 ,453 .-48 20 53,357. .4312
SPECIFICATION , E TC .— CONTINUED.
1835.
COUN TRIES T O
W H IC H E X P O R T E D .
1836.
1838.
1837.
Other
Other
Other
Other
Bars.
iron. Bars.
iron. Bars.
iron. Bars.
iron.
Tons.
Tons.
Tons.
Tons.
Great Britain and Ireland— 13,050. . 42 16,530. . 137
United States o f Am erica.... 28,728. . 476 27,342. . 560
2
France..................................... 5,732 . 56 3,574. .
179 . 152
161. . 213
N o rw a y ..................................
792
348.
.1428
.4626
Finland...................................
2
154
R ussia.....................................
Prussia..................................... 1,936 . 849 1,805. . 865
Denmark................................. 3,306 . 617 2,979. . 911
German States....................... 4.980 . 549 5,160. . 569
Portugal.................................. 3,953 . 214 2,482. . 143
H olland................................... 1,809 . 167 1,503. . 104
133
93.
Belgium...................................
A u stria...................................
Italy..........................................
34 .
8
93. . 54
..
4
2
Spain........................................
36
Gibraltar..................................
Greece.....................................
75.
East Indies..............................
Brazil.......................................
674.
860. . i i
..
Other parts o f S. America...
9
West India Islands................
10.
6. . io
A frica......................................
193. . 72
11,932
10,709
4,812
162
603
2,453
3,846
4,640
1,744
1,718
213
.
3 14,546. .. 10
. 151 25,669. . 585
. 18 7,413. .r 47
34. . 176
. 335
.6923 1,098. .4952
1.
. 939 2,672. . 935
. 742 4,495. .1144
. 552 6,742. . 795
. 106 3,327. . 125
. 323 3,091. . 347
152. . 16
53
22. .
5
272. . 20
.
7
204 .
677
1,083. .
10. .
li2
.
4
4
2
,.
4
71.
22.
1,004.
1,231.
29.
88.
465.
.
6
2
.
.
.
.
94
3
2
46
Total....... 65,815. .4648 62,750. .8352 44,918 10166 72,444. .9310
432
Iron Trade o f Sweden and Norway.
The foregoing tables and statements furnish the latest accounts o f the
Swedish Iron Trade. But the following returns, derived from the London
Mercantile Journal, o f March 1, 1841, received from Stockholm, which is
the ch ief entrepot for Swedish iron, and from whence supplies outwards
are furnished, may be accepted as a sufficient index o f the state o f the iron
industry for the years 1838, 1839, and 1840.
Ship-pounds.
Stock o f bar-iron in entrepot, N ov. 1838,
Received to 31st o f October, 1839,
.
.
.
126,744
276,087
T o t a l , ................................................................
Exported abroad,
.
.
.
.
.
.
.
402,831
283,505
.
.
.
.
F or internal consumption 14,025 ship-pounds only were taken. There
remained in entrepot, on the first o f November, 18 39 ,1 05 ,3 03 ship-pounds.
On a balance o f figures, the quantity in entrepot should be 119,300
ship-pounds: how the difference arises is not stated, and it is o f little con
sequence. In 1840 bar-iron was only exported for 258,618 ship-pounds.
A rather undesirable falling off from 1839, but still, as observed, equal or
superior to the exports o f any former year. The quantity taken for inter
nal consumption had increased, however, to 19,738 ship-pounds. O f
steel, iron in other shapes, such as sheet-iron, iron rods, hammered iron,
nails, & c., the weight exported from Stockholm in the same year, was
22,059 ship-pounds. Taken for internal consumption 16,992 ship-pounds.
The unsettled state o f our (United States) commercial and monetary af
fairs has no doubt tended to lessen Swedish exports to this country, whilst,
on the contrary, the exports to Germany have considerably increased. The
multiplication o f railroads throughout that part o f the European continent
w ill not improbably have added to the demand for Swedish iron.
NORW AY.
O f the mines o f N orw ay, those o f iron are esteemed the most profitable.
T h ey are chiefly situated not far from Arindal, in the southern province
o f Christiansand ; and near them, between Arindal and Konsberg, (a c
cording to Busching, vol. i. page 341,) ochre is found at W ardhus, in
Finmark, o f a beautiful skyblue, probably like that o f Elba, and is the
sign o f a rich iron mine. The iron ore o f Arindal is black mingled with
quartz. A t Bderum the Count W edel von Jarlberg has iron mines and
works, where are made grates, pots, and a variety o f other articles.
Oddy, in his work on “ European Com merce,” observes, that iron makes
no regular article o f export from N orw ay ; yet there does not appear any
reason why they might not have cultivated this branch o f manufacture as
w ell as Sweden. W ood they have in sufficient abundance. There are
several foundries in N orw ay, but they have not been worked with spirit,
their produce is therefore but small. Since the year 1792, they have not
much extended their works. Moss, a town o f a thousand inhabitants, con
tains a principal iron work. Skaggerak is also in repute for its iron
trade.
W e close this account o f the iron trade with the early statistics o f the
produce o f the iron works o f N orway, in the years 1791 and 1792, and
with the exports in the years 1829, 1830, and 1831.
433
The Currency.
PRODUCE OF THE IRON WOKS IN THE YEARS
1791.
AND
1792.
Unwrought
Iron.
Ship-pda
Bar
Iron.
Ship-pds.
Cast Iron
Wares.
Ship-pds.
3,192
3,102
1,379
1,218
2,340
1,469
2,302
2,990
1,678
647
1,474
215
2
252
1,152
1,046
932
601
2,201
1,034
3,662
2,037
2,843
2,464
872
922
1,663
1,151
1,436
2,480
1,209
50
959
194
2,394
1,954
491
232
616
426
22
28,604
26,502
20,591
20,483
8,086
8,586
114
1,693
Bolvig,
Barum,
Dikkemark,
England,
Eidifors,
Possum,
Procland,
Ulifoss,
Hassef,
Lessoi,
Mass,
Mostmarken,
Nass,
Qudal,
Total in 1791,
1792,
—
F orged
Iron.
Ship-pds.
59
4
29
IRON EXPORTED FROM N O R W AY ,*
In the years
1829,
1830,
T on s
3,164,
3,000,
A
rt.
1831.
2,516.
V .— T H E C U R R E N C Y .
N e v e r did a country more plainly exhibit the useful agency o f money
in quickening productive industry and facilitating commercial intercourse,
as well as in paying debts, than the United States at this time. Here we
see a people possessed o f the same fertile soil and the same means o f cu l
tivating it, the same materials for manufacture and the same skill in using
them, the same foreign markets, and ships, and seamen, which once dif
fused prosperity throughout the land, but which now, for want o f a sound
and a sufficient currency, cannot save the country from intense suffering
and distress. In the midst o f abundance and all the means o f wealth, yet
from this single want, useful enterprise is checked, the producer finds it
difficult to sell, and the consumer to buy ; the exchanges between town and
country, and yet more between city and city, are impeded, and in short
every movement o f the social machine is clogged or arrested. It is no
wonder then that money has so often been assimilated to the blood in the
animal system ; and assuredly i f it is not indispensable to the existence
o f a com m ercial community, it is at least essential to its healthy and
vigorous action.
The country suffers under the united evils o f a depreciated and an in
sufficient currency. In three fourths o f the states the local currency is,
or lately was, from 5 to 20 per cent below the legal standard o f v a lu e ;
* Porter’s Tables.
45*
434
The Currency.
and bad as the currency is, there is not enough o f it for more than the most
urgent and indispensable occasions. Even in those states where the hanks
redeem their paper in specie, there is a deficiency o f circulation which is
felt by all classes o f society, and these states, moreover, share in the mis
chiefs o f the depreciation that exists in the other states.
T h e various schemes for supplying the country with a sound currency
which have been suggested in congress, and out o f it, show at once the
lively sense o f the disease, and the difficulty o f finding a remedy for it.
N o less than five have been submitted to congress during its present
session : that o f the secretary o f the treasury, Mr. Cushing’s, Mr. Tallmadge’s, Mr. Pope’s, and Mr. Everett’ s, each o f which claims to be ex
empt from the objections to which those which preceded it were supposed
to be liable.
O f these, Mr. Pope’ s scheme o f creating a bank o f 75 millions, would
effectually remedy the present deficiency o f circulation; but it would cure
this evil only by aggravating that o f depreciation. It has, on this very
account, been received with favor by the debtor and borrower classes.
W e know that every country requires a certain amount o f money in
proportion to the products o f its soil and industry, and the amount o f its
exch an ges; in other words, in proportion to its wealth and its commerce,
and which sooner or later it is likely to obtain, but which, either by
casualties or its own errors it m ay sometimes exceed, as we did in 1836,
or sometimes fall short of, as at the present tim e; and all attempts per
manently to add to this amount in value must prove abortive, and would
be injurious i f practicable. I f the money be gold and silver, all beyond
the country’s fair proportion, according to the country’s wealth and wants,
w ill be exported, precisely as an excess o f tobacco, flour, or cotton beyond
the home demand, is exported. I f the money be o f paper, the excess
adjusts itself to the required value by depreciation. It would therefore
be impossible to throw 75 millions o f money into circulation, in addition
to what we now have, without greatly lessening its value, to say nothing
o f the issues beyond the capital o f the bank, which Mr. Pope’ s plan con
templates. O f the other parts o f his project, by which he proposes that
the general government should raise money enough on its own credit to
pay o ff the debts o f the individual states, it is unnecessary to dwell. Such
a measure, as it seems to me, would be neither practicable nor wise, and
though it were both, it would be beyond the constitutional powers o f
congress.
O f Mr. Forw ard’s plan, as it has been condemned by both parties, and
this circumstance has called forth several substitutes, it is also unnecessa
ry to speak; let us then pass to those on which the judgment o f congress
has not yet been pronounced, and which have at least the approbation o f
committees in their favor.
O f these three, Mr. Cushing’ s and Mr. Tallm adge’ s agree in their prin
cipal features. T h ey both profess to afford to the nation the benefits o f a
paper currency, but to secure the public from depreciation, they both pro
pose to withdraw from circulation specie to the same amount as the paper
thrown into it. The ch ief difference between them is, that Mr. Cushing’s
allows the exchequer, or government bank, to purchase under certain re
strictions bills o f exchange, as well as to sell them; but in Mr. Tallm adge’s
plan this power is in all cases prohibited.
But as these plans would not add a dollar to the currency, they offer no
The Currency.
435
remedy for one o f the great evils under which the country is now laboring.
T h ey may, and no doubt would, greatly facilitate the machinery o f the na
tional treasury, and they might improve the means o f remittance between the
principal cities, but for the great body o f the people they would do nothing.
The amount, o f the relief they would afford to the country is pretty much
the same as i f a farmer had by some calamity lost h alf the wagons and
teams by which he usually carried his crop to market, and a neighbor, by
w ay o f relieving him in his difficulties, were to offer to grease the wheels
o f the vehicles he had left. But we want wagons as well as grease, and
no amount o f the last w ill supply the place o f the first. The difficulty is
more in obtaining good money, under its present scarcity, than in remitting
it from place to place, though that too is something. These plans there
fore may be regarded as a cumbrous and expensive apparatus for turning
gold and silver into paper.
Even the convenience which these plans promise to the merchants and
others for remittance have probably been greatly overrated. It might be
long before any considerable proportion o f the amount o f notes allowed to
be issued could be thrown into circulation, and even then they might be
confined principally to the large cities. W e may judge o f the proposed
government paper, by the treasury notes now in circulation. T h ey have
most o f the qualities which the former would possess, and we seldom see
them beyond the precincts o f our large towns.
Mr. Everett’ s plan, however, is free from the objection that has been
made to the two others, for it proposes not only to create a uniform paper
currency, but to add to its quantity. Seeing the true character o f the
disease, he would not only give us a sound circulation, but, by transfusion,
give us more o f i t ; and so far his plan is decidedly preferable to those
which preceded it.
But all these schemes, comprehending Mr. Forward’s, have one com
mon feature which presents to republican jealousy an insurmountable ob
jection, and which makes them objects o f doubt and apprehension to the
political economist. T h ey all confer on the government the power o f con
verting its own credit into currency, and o f disbursing the money it had
thus created ; and when one recollects the shock which General Jackson’s
plan o f a government bank gave to all his opponents, and to the more
honest and reflecting part o f his own supporters, nothing more strongly
shows the present distress o f the country, than the toleration with which
plans so like his have been received.
E v ery plan o f this character, by which the government is at once the
issuer and the disburser o f paper money, seems to me to be fraught with
political danger, guard it as you may, and to be likely, moreover, to ag
gravate the evil for which it offers a temporary remedy. However
restricted may be the exercise o f this power, whenever the public is in
difficulty— whenever it wants, or thinks it wants money, it w ill always
find it easier to issue new paper than to la y new taxes ; and in this w ay,
an excess o f currency w ill here, as it has done elsewhere, lead to depre
ciation. This is then one o f the cases in which a wise people w ill distrust
them selves; for such new issues will always appear to a majority o f the
people the least o f two evils. The legislature, looking to its pole-star,
public opinion, w ill be sure o f support, and the united clamors o f those
who profit by depreciation, and o f those who mistake an addition to the
436
The Currency.
currency o f the country for an addition to its wealth, w ill be found to out
weigh the few who are well-judging and sober-minded.
In the state o f North Carolina, they retained, long after the revolution,
a kind o f paper money which had been in circulation before that period,
and which having been first made current by a royal proclamation, obtain
ed the popular name o f “ proc.”
It consisted o f small bills o f forty shil
lings and under, which having depreciated, and being otherwise inconve
nient, the legislature determined to call them all in. The measure was
however unacceptable to the body o f the people, and intelligent patriotism
had to struggle with popular prejudice and ignorance before these misera
ble substitutes for money were cancelled. And thus it w ill ever be ; the
inconvenience o f a bad currency w ill be preferred by most men to the in
convenience o f taxation.
Besides these too probable chances o f depreciation, there is danger o f
an immediate abuse o f their power by those who are intrusted with the
creation and distribution o f the government currency.
T o some it may seem that this danger would be no greater than that
which now exists, and has alw ays existed with the keepers o f the public
funds. Undoubtedly, some risk must always be incurred. “ W h o are to
watch the watchmen ?” is a question which, i f pushed to an extreme, ad
mits o f no satisfactory answer. But this inevitable danger is greatly in
creased by the proposed exchequer schemes. I f those schemes fulfil their
intended purpose, they w ill greatly increase the amount o f money at all
times in the treasury, and the temptation and danger o f using the public
money clandestinely w ill be augmented with its amount. The mischief
too, may be greater, as well as more frequent. It is in rich banks, rich
treasuries, and the most productive customhouses, that peculation has
most frequently occurred, and it is only in these that it can be to a serious
extent.
The danger is moreover enhanced by the new duties imposed on the
keepers o f the public money. N ow they are required to pay it only ac
cording to certain forms that are strictly prescribed by law, and which
have been taught by a long course o f experience ; but under these plans
they would often be called to pay out money to private applicants, with
out the intervention o f a warrant or order from their superior, and without
any official notice o f the transaction whatever, except what they them
selves made. W h o does not see that this state o f things would present
facilities and temptations to the use o f the public money which do not now
ex ist; and that when cashiers and tellers o f banks are found to embezzle
the money intrusted to them, though overlooked by a large body o f direc
tors, and watched by sharp-sighted stockholders, such frauds would be
much more practicable with officers o f the government, where there is fat
less surveillance, and where those to whom they are responsible have but
the secondary interest o f agents ?
One o f the ch ief securities against peculation in our public officers has
been, that they are not allowed to keep in their hands large sums o f money,
but are required to deposit it in banks in the first instance, and then to trans
fer it to the account o f the treasurer. The losses by unfaithful agents
have indeed been considerable o f late years, but they are small to what
they would have been, if our collectors and receivers had been also bank
ers and brokers.
These financial objections seem to me insuperable. The political ones
The Currency.
437
are not inconsiderable. Without peculation or gross corruption, the agents
o f the government bank would always have the means o f doing favors in
selling drafts, or granting accommodations, which would give them great
influence; and from the mode o f their appointment and the nature o f their
responsibility, this influence could, with but tolerable address and discre
tion, be converted to the use o f the executive. O f what importance is the
provision, that the president could not remove these officers without the
concurrence o f the senate, when, with nine men out o f ten, their selection
and nomination for the public appointments they held, would be sufficient
to make them the president’s fast friends ? W hen both the appointment
and removal o f these exchequer agents must begin with the president, it
is against the whole current o f human experience to suppose that the in
fluence which this power gives him over the wills and actions o f the per
sons appointed, w ill be greatly diminished by requiring the concurrence o f
the senate. The proposed check is certainly a wholesome one, and may,
in some cases, prove beneficial, but let us not overrate it. I f the concur
rence o f the senate in appointments, which has always been necessary,
has not prevented the nominee’s feelings o f gratitude and dependence
towards the president, w hy should their concurrence in the power o f re
moval produce that effect ? It assuredly would not. He w ill still be the
alpha and the omega to whom office-seekers and office-holders w ill con
tinue to look, as they ever have looked.
The power and influence thus acquired would but too probably be used
for personal or party purposes. Does any man think that many o f those
acts which have o f late years scandalized the moral sense o f the commu
nity, the removal o f faithful collectors and postmasters, because o f their
heterodoxy— the appointment o f those who were unfit, but obsequious—
the forgiveness o f official delinquency, in consideration o f political zeal—
the 10 per cent levied on the incomes o f federal officers, and reimbursed
to them by an increase o f sa la ry ; does any man, I ask, believe that these
acts, and such as these, are peculiar to one party ? B y no means. The
cause is to be found in the weakness and imperfection o f man, and all
parties, placed in the same circumstances, would soon or late fall into the
same sinister course o f action— the same abusive exercise o f their power,
for the sake o f preserving it, and not seldom persuade themselves, by the
sophistry o f the Jesuits, that the supposed goodness o f the end justified the
vileness o f the means.
From this blindness o f human cupidity and love o f power, the wisdom
o f the lawgiver consists in not exposing men to temptation, rather than in
punishing them for yielding to i t ; and all these schemes expose the pres
ident, a numerous band o f federal officers, and the people themselves, to
temptations which they w ill not always be able to resist.
Upon the whole, then, I object to every form o f a government bank o f
issue, because it would eventually give the country a depreciated curren
c y ; because it would increase the chances and aggravate the mischiefs
o f peculation ; and because it would furnish to the executive power new
means o f curruption.
These mischiefs seem to be inseparable from a paper currency at once
created and circulated by the government. If, therefore, w e would avail1
ourselves o f the superior credit o f the general government, for the purpose
o f giving to the nation a uniform paper currency, exempt from the dan
438
The Currency.
gers adverted to, we must separate the functions o f making and o f disburs
ing such paper.
This object, it seems to me, may be attained by the subjoined plan. I
would, however, premise, that in submitting it to the public notice, I still
think that it is inferior to a national bank, o f whose benefits we have had
the experience o f forty years. Nor is this opinion at all shaken by the
folly, the guilt, and the eventual failure o f the Pennsylvania Bank o f the
United States, which was as unlike its predecessor as the convulsive
spasms and distorted features o f a galvanized corpse differ from the looks
and actions o f a living man.
A s the best substitute for a national subject, I would propose— *
1. That the United States borrow on the credit o f the public lands, as
much specie as would support a paper currency, which would, without
depreciation, be adequate to the wants o f the nation.
2. That it then, by special commissioners, strike off notes payable to
b ea rer; receivable and redeemable by the governm ent; o f denominations
fitted for circulation, and to the amount previously determined by law.
3. That this amount o f paper money be lent to the states, in proportion
to their federal numbers, at an interest o f 4 per cent per annum, on the
following conditions, v i z : that o f the money to which each state was enti
tled under the distribution act, so much as was equal to the interest due
from such state, should stand pledged from year to year to the general
governm ent; that the portion lent to each state should be assigned to such
bank or banks as it should select, or should establish for the purpose;
which banks should engage, under such sanctions as should be prescribed
by an act o f congress, to act as fiscal agents o f the general government,
and to circulate no paper o f their own.
4. The notes thus created by the government, and put into circulation
by state banks, to be redeemable in the city o f N ew York, by directors
appointed by the president, with the consent o f the senate, and removeable
only in the same w ay. Their functions to be limited to the business o f
exchanging specie for the government notes, and the re-conversion o f notes
into specie, and with no power to lend, discount, deal in bills o f exchange,
or receive deposits. The several amounts o f the specie and notes in the
bank (which together w ill almost amount to the original specie capital,)
to be transmitted to the treasury department weekly, and to be counted
once a month by inspectors appointed partly by the federal government,
and partly by state authorities.
T h e advantages promised by the preceding plan, are believed to be
th ese:
It w ill immediately supply every part o f the union with a currency equal
to specie ; whereas the exchequer schemes would be slow, irregular, and
always partial in their operation.
A s the functions o f the commissioners would cease as soon as the amount
ordered by congress was struck off, there would be no danger o f those
undue expansions o f the currency to which ordinary banks are exposed.
And as more specie must be procured before there could he a new issue
o f notes, this previous condition would always prove a salutary and suffi
cient check against a further extension o f the notes, unless the business o f
* This plan has been already published in the Washington Independent, where it may
be seen somewhat more in detail.
Commerce o f the Lakes.
439
the country should plainly require it. W here an adequate amount o f
specie must first be obtained before there can be any new issue o f notes,
there is not much danger o f an undue distension o f the currency.
The distribution o f the money thus added to the circulation w ill be made
by those who, having the requisite personal knowledge, are most likely to
make it most safely and beneficially. W ith few exceptions, the state
banks generally do this part o f their duty with fidelity and ability.
The plan would make no permanent addition to the influence or patron
age o f the executive, except in the appointment o f the directors o f the bank,
who, exercising no discretion, would have less power than the superin
tendent or the treasurer o f the. mint.
A similar remark may be made as to peculation. The counting the
money once a month, by persons responsible to different authorities, would
afford the best security the case admits o f against fraud or embezzlement.
The simplicity o f their duty too, having no complicated account to scruti
nize, would be favorable to its faithful execution.
Lastly : Supposing the amount issued to be double the amount o f specie
provided, the United States would gain by the plan the difference between
the interest it would receive and that it would pay, which might be as
much as 4 per cent on the sum borrowed. The state banks would gain
the difference between the 4 per cent they would pay and the 6 or 6 i per
cent they would receive from their custom ers; and more than all, the
people would gain by the spring that would be thus given to every species
of profitable enterprise and productive industry.
A rt . V I.— C O M M ER CE O F T H E L A K E S .
It is somewhat extraordinary that the public mind has not been hereto
fore more directed to the commerce which is rapidly growing up on the
great lakes o f our country. Stretching along one o f the most important
agricultural sections o f our territory, comprising the states o f N ew York,
Pennsylvania, Ohio, Michigan, Illinois, Indiana, and the territory o f
Wisconsin, besides an extensive tract o f domain at present but partially
colonized, and furnishing the main outlet for their products upon the east
ern side, they constitute one o f the most extensive fields o f inland naviga
tion upon the face o f the globe. It is our design to lay open the most
prominent facts connected with this branch o f our domestic commerce, as
the great lakes w ill in future time constitute the grand avenue through
which w ill be transported the wealth o f the northwestern grain harvests
to their eastern markets.
The magnitude o f the lakes is a feature which cannot fail to strike those
who are accustomed to regard the magnificent scenery o f our republic
with patriotic pride. Commencing with Lake Erie, we find it furnishing
a prominent sea-port in the state o f N ew York, at the city o f Buffalo, a
fitting head o f this commercial chain. Passing from that point, it washes
the boundaries o f Pennsylvania and Ohio, affording safe harbors to the
cities o f Erie, Cleveland, and Sandusky, as well as other minor ports, and
expanding a surface o f about two hundred and sixty-five miles long, and
o f sixty-three miles in its widest part, terminates at the beautiful islands
440
Commerce o f the Lakes.
which cluster around the mouth o f the river Detroit. Passing up the D e
troit river, we soon reach Lake St. Clair, the smallest o f the chain, yet
presenting upon its borders a picturesque scenery, marked by tranquillity
and repose; the fading memorials o f original French colonization, the
rural cottage and the orchard, the cattle sometimes grazing upon its banks,
and the evidences o f the struggle between rude nature and enterprising
man, in the campaign o f civilization. This last lake, named by L a Salle
from the day on which he entered the river, is only about thirty miles long
and twenty-eight broad, yet sufficiently deep to afford navigation to the
largest class o f ships. W e now reach the river St. Clair, a picturesque
stream, maintaining an average breadth o f about three quarters o f a mile,
and soon arrive at Lake Huron, which seems like an ocean set in the
forest, and in an expanse that appears to support the base o f the s k y ; the
area o f this lake being two hundred and forty miles long, and its breadth
about two hundred and twenty miles in its broadest part. Its shores are
comparatively barren and desolate, with scarcely a monument to show
that man has advanced upon the domain. Here a straggling vessel ploughs
the waste o f waters, and there a steamship shows that the mechanical
philosophy o f the nineteenth century has brought it into subjection and
conquered its winds and waves. The canoe o f the Canadian voyager is
seldom seen, although it is w ell known that the fur trade is carried on to
a considerable extent both upon its British and Am erican shores. The
Bay o f Saginaw, an indentation o f the shore line o f sixty miles deep and
thirty broad, is studded with islets, and furnishes access to the city o f Sagi
naw, which lies at no great distance.
Crossing Lake Huron the island o f Mackinaw soon appears in view, a
high blu ff which is no less remarkable for the beauty o f its position, stand
ing like a fortress amid the watery realm, than for its historic associations.
Long a prominent depot o f the fur trade, and the theatre o f some o f its
most interesting vicissitudes, it now forms a favorite rendezvous o f the In
dian tribes in the vicinity, and affords a safe harbor for the steamboats
which ply regularly during the season o f navigation from the state o f
N ew Y ork to Chicago. This island is about nine miles in circumference,
being at its highest elevation about three hundred feet above the level o f
the lake, and abounds in many natural monuments, which seldom fail to
gratify the interest o f the curious. Arriving at the Sault Ste. Marie, and
advancing through a passage o f about fifteen miles, we come to Lake Su
perior, the father o f the lakes, stretching out its watery plain over a sur
face o f about three hundred and sixty miles in length, according to the
received estimate, and in a breadth o f one hundred and forty. Although o f
course shut out from direct commerce by the obstruction o f the Falls o f
St. M ary, which however is soon to be remedied by the construction o f a
ship canal around them, it is navigated by a few small vessels which are
employed in the fur trade; this, together with the lake fishery, being the
only species o f traffic that can be carried on with profit upon it, from the
uncultivated condition o f the bordering territory, a tract that abounds
in mineral wealth, if we may judge from very recent geological investiga
tions. Green Bay, an indentation o f Lake Michigan, is soon met on our
approach to that lake. This latter lake, it is probably well known, ex
tends upon the western boundary o f the peninsula o f Michigan, in a sur
face o f three hundred and thirty miles long, and seventy miles broad, pre
senting upon its shores the ports o f Chicago and Michigan City, Milwaukie,
Commerce o f the Lakes.
441
New Buffalo, St. Joseph, and Grand Haven, as well as other interesting
points o f the lake commerce, in the several bordering states.
Lake Ontario, the eastern part o f this chain, it is well known lies near
est to the Atlantic, and borders a considerable portion o f the territory o f
New York, having as its outlet to the Atlantic the river St. Lawrence,
which flows from its eastern extremity to the distance o f one thousand miles
before reaching the sea. Its length is one hundred and seventy-two miles,
and its extreme breadth fifty miles, being navigable throughout its whole
extent. From the importance o f the territory, both on the British and
American shores, its trade is now considerable, and the numerous sail
vessels and splendid steamships which navigate it, earn valuable profits
in the commerce which is carried on between the different points o f its
banks. Upon its Canadian borders we find the city o f Toronto, the capi
tal o f Upper Canada, and also the towns o f Queenston and Niagara ; and
upon the American side the towns o f Oswego, Genesee, and Sacketts
Harbor. From the fact that it possesses a direct communication with the
Atlantic, in a northerly direction, through the St. Lawrence, and in a
southerly direction, through the river Hudson, by the Erie ca n a l; it may
be considered from its eastern position, and from the wealth o f the territory
that it washes, one o f the most important links in the chain.
W e have sketched this brief outline o f the great lakes, for the purpose
o f exhibiting the magnitude and importance o f the theatre upon which the
lake commerce is destined to act. Constituting, with a few obstructions
that are in the progress o f being removed, a continuous line o f water com
munication, extending from N ew York and penetrating the interior forests
o f our republic for two thousand miles, the outlet o f the products o f a very
valuable portion o f our continent, they exhibit one o f the most marked
features o f the country.
Prior to the year 1759, the entire territory bordering the western lakes
was the claimed domain o f the French, and their waters constituted the
principal channel through which circulated the fur trade that was carried
on from the earliest colonization o f Canada, throughout the neighboring
shores, a source o f occupation to the French colonists o f that region, and
o f wealth to the French empire. After that territory passed to England,
and the Hudson Bay Company extended its jurisdiction over the domain
that had been before occupied by the French, this trade continued to be
carried on over the same territory and through the same lakes, until the
country was transferred to our own government; and the advancing colo
nization o f the United States, and the progress o f our own agricultural
production and commerce, materially changed the aspect o f affairs through
out the greater portion o f these inland seas. The growth o f the lake com
merce, from the period since the fur trade constituted its most distinguishing
feature, will doubtless be interesting to our readers ; and we propose, accord
ingly, to give a condensed historic sketch o f its advance, for which we are
indebted to J. L . Barton, Esq., that gentleman having from laborious investi
gation collected the matter for a report, designed to be presented by the topo
graphical bureau to the general government. In this report, he rem arks:
Prior to the year 1832, the whole commerce west o f Detroit was con
fined almost exclusively to the carrying up provisions and goods for the
Indian trade, and bringing back in return the furs and other matters col
lected by that trade for an eastern market, and the freighting up o f pro
visions and supplies for the troops at the different garrisons established
VOL.
vi.— n o . v.
46
442
Commerce o f the Lakes.
around the upper lakes. A ll o f which furnished a limited business for a
few schooners.
The breaking out o f the Black Hawk war in 1832, first brought out a
knowledge o f the richness o f the soil and salubrity o f the climate o f
northern Illinois and Indiana, and the territory o f Wiskonsin, and exhib
ited the commanding position o f Chicago, (hitherto an isolated place,) for
commercial business. This war being closed that same year, and peace
being re-established in all those parts, a strong emigration set in that di
rection the next year, and the rich prairies o f that country began to fill
with a vigorous, hardy, and enterprising population ; and from that time,
only the short period o f eight years, may it in truth be said that there has
been any commerce west o f Detroit.
As early as the year 1819, the steamboat W alk-in-the-W ater, the only
steamboat then on Lake Erie, made a trip as far as Mackinaw, to carry
up the Am erican Fur Company’s goods, and annually repeated the same
voyage until she was wrecked on the beach, near Buffalo, in the month
o f November, 1821. Her place was then supplied by the steamboat Su
perior, (now the ship Superior,) which came out in 1822. This boat also
made similar voyages to Mackinaw, which was then the ultima thule o f
western navigation.
In 1826 and ’ 27, the majestic waters o f Lake Michigan were first
ploughed by steam, a boat having that year made an excursion with a
party o f pleasure to Green Bay. These pleasure excursions were annually
made by two or three boats until the year 1832, when the necessities o f
the government requiring the transportation o f troops and supplies for the
Indian war then existing, steamboats were chartered by the government
and made their first appearance at Chicago, then an open roadstead, in
which they were exposed to a full sweep, by northerly storms, for the
whole length o f Lake Michigan ; and even at this day the slight improve
ment made at that port, in a partially constructed harbor, affords them
but a limited protection.
In 1833, there were employed 11 steamboats, which cost the sum o f
$360,000 ; they carried to and from Buffalo and other ports on the lakes,
that season, 61,485 passengers, and with the freight they carried, received
for the whole the sum o f $229,212 69.
O f the passengers carried, 42,956 were taken from Buffalo, bound west;
the remaining 18,529 passengers were all landed at Buffalo, excepting
some few distributed at the different ports along the lake.
There were made that season, three trips to the upper lakes, two to
Chicago, and one to Green Bay, the amount o f receipts for which was,
$4,355 93.
By w ay o f contrasting the time employed in making trips to Chicago in
those days and the present, it may be stated, that one o f the boats left
Buffalo on the 23d o f June, at 9 P. M., and returned on the 18th day o f
July, at 10 P. M. The other left Buffalo the 20th day o f July, at 4 P. M.,
and returned August the 11th.
In 1834, the association formed by the steamboats, the previous year,
was continued, and was composed o f 18 boats, which cost in their con
struction something over $600,000— seven new boats having come out
that season. The whole amount received by all the boats for freight and
passengers that year, was $238,565 95. During this year two trips were
made to Green Bay, and three to Chicago, and the amount received by the
Commerce o f the Lakes.
443
boats was $6,272 65. The greater part o f this sum was for business west
o f Detroit, as the trips to Chicago were made by a boat running from that
place to Chicago.
It w ill be observed that the aggregate business o f 1834, exceeds but
little that o f 1833, notwithstanding the great increase o f boats; but as
the cholera prevailed extensively around the lakes that year, it made a
sensible difference in the business.
In 1836, the steamboat association formed in 1833, was dissolved; the
number o f steamboats increased, as did the business. There is no way,
without almost endless labor, o f determining the amount o f business done,
or the capital employed ; but as speculation was rife, and bank bills plen
ty, and everybody getting rich, a greatly increased business, to the west,
took place that year, both o f passengers and merchandise.
The same difficulty is found for the years o f 1837 and ’ 38, with regard
to the number o f boats, and capital employed, and the gross amount o f
business done in those years. But as a great revulsion in the trade o f the
country had taken place, and a general suspension o f specie payments by
the banks occurred in May, 1837, a less number, or at least no greater
number o f passengers crossed the lakes in either 1837 or ’ 38, than in
1836 ; and a great decrease o f goods going west, also had a tendency to
diminish the business o f those years. In all probability, could the amount
o f business o f either o f those years be ascertained, it would prove to be
less than what was done in 1836.
In 1839, the owners o f steamboats finding the number o f boats, and the
amount o f capital employed in the business (many new boats having been
built during the season o f speculation,) so much greater than the business
required, that i f all the boats were kept running, they would consume
themselves and bring the owners in debt, about the first o f June, in that
year, formed a new association, by which part o f the boats were run, and
a part laid up.
The increase o f business to Chicago, and ports west o f Detroit, by this
time had become so large, that a regular line o f eight boats was formed
to run from Buffalo to Chicago, making a trip in every sixteen days.
The increase in the business was by emigrants, with their household fur
niture and farming implements, and others going west, and not from any
freight from Lake Michigan, as the rapidly increasing population o f that
section o f country rather required produce to be imported into, than ex
ported from it.
As the association formed this year among the steamboats, did not em
brace all the boats on the lake, and as it was formed after much business
had been done, the total amount o f business done by steam that year can
not be determined with any degree o f certainty; in amount it greatly ex
ceeded any former one.
In 1840 the steamboat association was kept up, and embraced more
boats than the one o f 1839. This year the number o f boats on the lake
was 48, o f various sizes from 150 to 750 tons burden, and cost in their
construction about $2,200,000 ; a part o f these boats were run, and a part
laid up. The aggregate earnings o f the running boats this year, for
passengers and freight carried both ways, amounted to about the sum o f
$725,523 44 ; this amount includes the earnings (estimated) o f several
boats that did not belong to the association, and added to the amount earn
ed by the associated boats. Eight boats ran regularly this season from
444
Commerce o f the Lakes.
Buffalo to Chicago, making 16 day trips, and one for a time from Macki
naw to Green Bay, and occasionally to the Sault Ste. Marie ; the ag
gregate earnings o f which amounted to $302,757 93. T w o thirds of
this may be properly considered as business west o f Detroit, and is
$201,838 62.
This amount o f business is made up (with the exception o f twelve or
fourteen thousand dollars paid by government for the transportation o f
troops,) by passengers and freight o f merchandise going to the different
towns on the borders o f Lake Michigan, and passengers and produce, o f
which latter there was a good deal this year from the same quarter.
In 1841, the same arrangement existed among the steamboats, and in
cluded nearly all the steamboat interest on the lakes. The boats were
run in the same manner as in 1840, with this exception, that six boats o f
the largest class ran from Buffalo to Chicago, making 15 day trips, and
one to Green Bay a part o f the season, making a trip in 14 days. These
boats have made during this season 525 trips from Buffalo, o f which 444
were made on Lake Erie to Toledo, Perrysburgh, River Raisin, and D e
troit; and 81 to the upper lakes, o f which 70 were made to Chicago, and
the other 11 to Green Bay and the Sault Ste. Marie— and to make these
trips, have run between 440 and 450,000 miles. In addition to which
a small boat has run daily during the season from Buffalo to Dunkirk and
Barcelona, and occasionally to Erie.
The entire earnings o f the running boats this year, ascertained in the
same w ay as in 1840, amount to the sum o f $767,132 27. The Chica
go and Green Bay boats earned o f this amount the sum o f $301,803 29.
From the increased quantities o f agricultural products brought down
from the shores o f Lake Michigan this season, and many tons o f lead and
shot from the mines in that section o f country, now for the first time, in
any considerable quantity, seeking a market by the lake route ; and the
large increase o f fashionable travel from N ew Orleans to the northern
states, during the hot season o f the summer months, having selected this
route in consequence o f its being more speedy, less expensive, more
healthy than the lower route, and affording the traveller a view o f the
magnificent scenery o f the islands and shores o f the great la k es; it is
estimated that three fourths o f the business done by the Chicago and Green
Bay boats this year, are made from commercial enterprise west o f Detroit;
and as there was but little government transport this year, the Michigan
lake is allotted, o f this trade, $226,352 46.
So far as steamboats are concerned, owing to the entire want o f safe
harbors around Lake Michigan to afford them protection, their whole busi
ness is now confined to the western shore o f that lake. During the past
season, in mid-summer, two or three boats made each a trip to St. Josephs
and Michigan C ity ; yet it may be remarked that Milwaukie, Racine, Southport, and Chicago are the places where they have regularly done business.
The number o f sail vessels owned on Lake Erie and the upper lakes,
is estimated at 250— varying in size from 30 to 350 tons burden. The
smaller ones are employed in wood, lumber, and stone business, and con
fine their operations principally to rivers and short trips ; while the large
and more numerous class are employed in freighting produce, merchan
dise, and other property, the whole length o f the lakes.
The cost o f these vessels varies from $1,000 to $ 1 4 ,0 0 0 ; assuming
$5000 as a fair average, it w ill be seen that there is employed in sail
445
Commerce, o f the Lakes.
vessels, a capital o f #1,250,000. These vessels will earn annually from
#500 to #6,500 each, which, averaging them all at #3,000, w ill show an
amount o f business done, o f #750,000. V ery many thousands o f dollars
o f this business are made from freights west o f Detroit,, and some sort o f
opinion may be formed o f its amount, when it is known that a great num
ber o f the largest sized vessels employed on the lakes, are engaged in that
distant trade.
T o arrive at the amount o f tonnage o f steam and sail vessels, would re
quire the consulting o f the customhouse books at every point o f entry
around the lakes, and would occupy much time to obtain it.
A full view o f the whole commerce o f the great western lakes cannot
be shown without adverting to a foreign or auxiliary trade o f great and
growing im portance; namely, the business done by vessels owned on
both sides o f lake Ontario, which pass through the W elland canal, and
push their trade to the extreme end o f Lake Michigan. From a table o f
this trade published in the Montreal Gazette, a comparative statement o f
the principal articles that passed through the W elland canal to the 31st
Oct. 1840 and 1841, shows as follow s:
Flour,
.
B eef and Pork,
Salt,
Boards, .
Sq. Timber, .
Pipe Staves, .
W . I. Staves, .
Wheat, .
Indian Corn,
Merchandise, .
T olls received,
Schooners,
Scows,
Tonnage,
.
.
.
In 1840.
186,864 bis.
14,889 do.
153,031 do.
1,802,622 feet.
880,107 do.
885,704
765,912
1,720,659 bush.
27,088 do.
2 ,7 6 9 i tons.
In 1841.
193,137
24,195
149,337
3,118,122
1,151,436
1,347,839
1,377,225
1,212,458
90,158
3,718
£ 1 8,03 7 3 l i
£ 1 8,58 3 9 71
1,863
700
202,282
1,895
972
247,911
The amount o f freight on this property o f that portion which was grown
on the American side o f the waters, and transported on Lake Erie and the
upper lakes, will exceed the sum o f #150,000 ; from which it w ill be
seen that the aggregate commercial business on these great lakes, amounts
now annually to the very large sum o f #1,700,000. And, with the ex
ception o f Lake Erie, which is partially furnished with harbors, created
by individual enterprise and appropriations by congress, the upper lakes
are almost entirely destitute o f these indispensable requisites for the safety
o f commercial interests enjoyed in that great and growing trade.
With here and there a lighthouse above Detroit, every thing remains
almost in the same state it was found by the commercial pioneers, when
they first broke their w ay through Lake Michigan.
The rapidly increasing population west, the richness o f the soil, the easy
access to the mineral regions in Wiskonsin, the new communications open
ing in that country, and the increasing demand for larger quantities o f
manufactured goods from the old states, must satisfy any one that this
46*
446
Commerce o f the Lakes.
commerce must annually go on increasing; thus constantly strengthen
ing the claim every section o f the western country connected with the
great lakes has upon the liberality and justice o f congress for appropria
tions to build harbors, construct lighthouses, and to remove in some way
the impediment to navigation over the flats in Lake St. Clair— and thereby
afford protection and safety to the lives and property engaged in this valu
able and important business.
From the want o f harbors on Lake Michigan, there has been recently,
and there is annually, a great sacrifice o f life and property. Ten or
twelve large vessels have this fall, (1841,) met with serious disasters in
that region ; some have been driven ashore partially wrecked, with their
cargoes slightly injured, others have been made complete wrecks, their
cargoes seriously damaged if not altogether made valueless, while others
have foundered in ,the lake and been totally lost with their entire crews
and cargoes, in consequence o f there being no harbors to which they could
resort, for safety and protection.
The necessary future growth o f the lake commerce must be obvious to
those who w ill take the trouble to examine the resources o f the territory
which border these inland seas, and the enterprise which is now acting
and increasing from year to year in that portion o f the country. Em igra
tion has been o f late years fast pressing upon the new lands o f the north
west and laying open broad tracts o f cultivated fields upon the ruins o f
the wilderness. Prosperous villages and even cities have been fast spring
ing up on the most prominent points o f its shores, and harbors indent their
coasts at widely separated points, that we trust m ay receive the increased
attention o f the general government. The agricultural and mineral pro
ducts o f the bordering states that will be increased in importance as popu
lation advances towards the west, must in future time swell the trade o f
the lakes to an enormous amount. A t present the emigration from the
east furnishes no inconsiderable an item in the sum o f lake navigation.
A great portion o f the merchandise required in the northwestern markets,
it is well known, finds its channel o f transportation from the east through
the lakes. The thousands o f colonists who are advancing to that region,
seeking comfortable freeholds for themselves and their families, with
agricultural implements and utensils o f all sorts, are provided, in the nu
merous steamships and vessels which ply upon their surface, with the most
commodious means o f transportation ■ and the return freights, in the grain
staples o f the northwest, must be increased in proportion to the amount o f
this emigration. W hat resources for the commerce o f the lakes are fur
nished by the rich grain-growing soil bordering its shores, the wheat lands
o f Ohio, Michigan, and Indiana, and the lead mines o f Illinois, Iowa, and
Wiskonsin ! Is it not reasonable to suppose that the more than sixteen
millions o f bushels o f wheat that are now yielded by the state o f Ohio, the
four millions o f Indiana, the three millions o f Illinois, the two mil
lions o f Michigan, and the eight millions o f pounds o f lead produced in Il
linois, and the fifteen millions o f pounds o f the same metal furnished by
Wiskonsin, according to the last census, w ill soon be quadrupled in
amount, all contributing to the commerce o f the lakes ?
W e would here advert to the subject o f the improvement o f the facilities
o f lake commerce as a topic involving, in a high degree, the prosperity o f
that portion o f our oountry. The constitutional question regarding the
Commerce o f the Lakes.
447
right o f the general government to aid iocal enterprises, does not, in our
judgment, apply to the inland seas o f our own country. It would seem
that the vast field o f navigation spread out by the lake waters, may pro
perly be considered a national concern, inasmuch as they embrace an ex
tent o f inland sea-coast, which is as necessary to be protected in its in
terests, so far as all public purposes are concerned, as the coast o f the
Atlantic. Their shores extend for thousands o f miles into the interior,
(the total length o f coast formed by their margins being four thousand miles,)
exposing a long line o f our own territory to the inroads o f a foreign nation,
which occupies the entire domain throughout its whole extent upon the
one side. A s the ocean is deemed the highway o f nations, the northwest
ern seas may be properly regarded the national highway o f the republic,
so far as their very great extent and their national importance are con
cerned— common to the governments o f Great Britain and the United
States. This doctrine has been assumed and officially acted upon by con
gress in the several acts passed for the construction o f lighthouses, break
waters, and other public improvements upon the American shores. Inde
pendently o f the line o f American coast which they expose, the resources
o f the numerous states and territories which they border, embracing a
most opulent portion o f the republic, certainly render them an object o f
national concern. The products o f the bordering region w ill doubtless
furnish a no inconsiderable portion o f the agricultural and mineral wealth
o f the,country, either consumed at home or exported abroad, thus adding
to the solid wealth o f the nation and augmenting our national revenue.
The numerous ports by which they are indented are not only depots o f
trade but important points o f shipment, and they w ill doubtless, as new
public works progress, leading to their banks, constitute the sole outlet for
the products o f the interior o f the bordering territory. The frequent loss
o f lives which has occurred by the want o f proper means o f shelter for the
rigged vessels and steamships which ply upon them during the occurrence
o f storms, furnish additional motive for the aid o f the general government.
W e would ask any far-seeing and benevolent man whether the aid directed
to the improvement o f lake navigation would be thrown away, the neces
sary consequence o f which is to render their commerce safe, to furnish
additional means and motives for production and export, and to establish
permanent bulwarks o f national defence 1 W ould not the formation o f
harbors, roadsteads, piers, and breakwaters, and the deepening o f shoals,
tend to protect the agriculture as w ell as the commerce o f the country ?
In order to exhibit the increasing importance o f the lake commerce we
subjoin an official statement, which was made in 1841, by W . G. W il
liams, a captain o f the corps o f topographical engineers, exhibiting the ar
rival and departure o f steamboats and vessels, the clearances, tolls upon
the canal, the amount expedited eastward by canal, and the amount re
ceived by canal and shipped to the west, for a series o f years, commen
cing in 1815, and ending in 1840, at the single port o f Buffalo :
The following table does not include domestic manufactures, salt, & c.,
including which, the amount received and shipped would be very much
greater than the amount below given. For instance, the aggregate re
ceived by canal and shipped west in 1840 amounted to 78,270 tons,
being nearly four times the' amount o f merchandise and furniture
448
Commerce o f the Lakes.
Arrivals and de
Years. partures o f steam Clearances.
boats and vessels.
1815
1816
1817
1818
1819
1820
1821
1822
1823
1824
1825
1826
1827
1828
1829
1830
1831
1832
1833
1834
1835
1836
1837
1838
1839
1840
64
80
100
100
96
120
150
200
236
286
359
418
972
1,520
1,800
2,052
2,400
2,560
2,730
2,975
3,280
3,550
3,955
3,895
3,955
4,061
1,100
1,406
1,880
1,599
2,066
2,424
2,220
2,772
4,008
5,175
5,018
4,755
4,970
5,013
4,851
Tolls.
Dollars.
Amount expedi Amount received
ted eastwnrd by by canal and ship,
canal.
ped to the west.
19,558
26,293
32,128
25,923
48,923
65,980
58,136
73,695
91,018
105,863
157,536
128,581
202,890
*259,183
*376,417
Tons.
5,134
8,621
32,424
45,052
44,157
76,458
156,164
177,607
Tons.
18,598
21,450
23,140
35,809
27,567
35,586
31,887
20,643
The statement furnished by a committee o f the common council to this
office is so much to the purpose, as bearing upon the continued increase
o f trade up to this very time, that it is submitted as an extract.
“ The increase o f business in the spring o f 1841 has also been much
greater than that o f any preceding year.
“ The number o f arrivals and departures o f steamboats and vessels up
to June 1, amounted to 626, not including the steamboaf ‘ Star,’ which
plies daily between this port and Chippew-a.
“ The following are the principal articles received during that period :
bbls. 158,552 Wheat,
Flour,
. bushels, 140,102
“
49,763 Corn and Oats,
Pork,
“
11,016
“
761 Ashes,
. casks,
2,538
Fish,
“
5,838 Hams, & c.,
“
2,451
W hiskey, .
Butter and lard, .
kegs, 15,066 Hides,
9.117
Brooms,
doz.
2,545 Staves,
464,000
“ Among the articles forwarded down the canal from this place were
the follow in g:
.
.
Barrels o f flour,
167,273
.
.
48,368
Barrels o f pork,
•
•
.
Bushels o f wheat
90,129
.
•
•
. . .
* Includes tolls received at Black Rock.
Commerce o f the Lakes.
449
“ T he amount o f tolls received at Buffalo office alone, from April 24th
to June 1st, was $88,707 14, being an increase o f 33 per cent over the
amount received for the same period in 1839.
“ At this enormous ratio o f increase is the great west pouring her rich
products to the Atlantic markets, through the medium o f Buffalo harbor
and the Erie canal.”
The position o f the lake territory in relation to the east, causes this line
o f our inland navigation to be the connecting chain between the commerce
o f the northwest and that o f the Atlantic states ; and although it was not
until the year 1818, that this commerce had assumed so important a char
acter as to call the public attention to the construction o f lighthouses upon
their Am erican shores, those lights have been gradually increasing,
and other improvements have been commenced and partially carried out
for the protection o f the shipping. The numerous harbors upon their
banks are many o f them obstructed by sandbars and exposed to a violent
and dangerous su rf during the period o f high winds, and the attention o f
the government has been accordingly more particularly directed to the
construction o f lighthouses and breakwaters, and the removal o f sand
bars.
About the period in which the attention o f the government was directed
to the erection o f lighthouses upon the lakes, it was called to the construc
tion o f lake harbors. W orks o f this character o f considerable expense
have been built up at the towns o f Chicago, Michigan City, Mihvaukie,
and Green Bay, upon Lake Michigan, as well as at Detroit, Cleveland, San
dusky, Ashtabula, Portland, and Dunkirk, upon Lake Erie, and at Genesee
and Sacketts Harbor, upon Lake Ontario, some o f which are now in progress.
Important improvements have also been made through the same source at the
ports o f Buffalo and Erie, and at Oswego, at the mouth o f the Seneca river,
upon the southern shore o f the Ontario lake. There are other points upon the
upper lakes, which, from the growing commerce o f that region,doubtless re
quire additional aid. The last report o f the bureau o f topographical engineers,
exhibits many important facts, demonstrating the actual condition o f the
several lake ports, going to show the very great advantages resulting from
these improvements from the growing commerce o f the lakes. A partial
survey o f this portion o f our inland waters has been already made under
the auspices o f the general government, and the result o f the report, to
which we have alluded, has given us the most prominent facts connected
with the position o f the several lake harbors, their relative importance re
garding the products o f the interior, and the amount o f their exports. The
growing value o f this field o f our commercial enterprise is beginning to
press itself upon the public mind. The emigration o f the country has been
for the last few years advancing westward to an unexampled extent. The
bordering territory, from the character o f the soil, and its various resources,
is already the most productive agricultural section o f the nation, and the
expansive field o f commerce spread out by the lake waters is in all respects
proportioned to the magnitude and fertility o f the domain which they
adorn,
450
Morals o f Trade.
A rt . V II.— M O R A L S O P T R A D E .
NUMBER FIVE.
In a former paper we attempted to show, that a man is not bound, even
by the law o f honor, to pay debts from which he has received a discharge.
And it may be added, that a merely legal discharge would amount to
nothing if the debtor still continued liable in the court o f h on or; a court,
whose unserved processes and executions, would as effectually bind and
cripple an honorable man as any prison wall in the land. Has this view
o f the matter been considered by those who hold the opposite opinion ? If
this statement be valid, and a man is bound by the laws o f honor to pay
such debts as
have referred to, there can be no discharge, and it is
empty speech to talk o f it. The discharge from the debt discharges the
debtor entirely, or not at all. For i f the honorable man ever recover his
position he will pay his old debts, by his own principles, i f it be just that
he should do s o ; and while he remains poor, o f course no law can compel
him to pay that which he does not possess. But to say that a man is guilty
o f dishonorable conduct who does not pay his old debts when he is able,
and that the law cannot compel him to do so, would seem to imply that
the law o f the land is widely opposed to the law o f honor. But then it
may be said that the law regards the debtor as w ell as the creditor; and
besides it must be remembered that, in the class o f cases we have referred
to, it is optional with the creditor whether the discharge be given or not.
The law but holds him to his own agreement. I f he expected to be paid
under certain circumstances, it might be stipulated in the discharge.
But, moreover, let it be understood that the principle we advocate applies
only to cases where the discharge is voluntary on the part o f the creditor,
and we are guilty o f no contradiction in saying, that the debtor is bound
by the law o f honor to pay, when he is able, debts from which he has been
released by such a law as the “ bankrupt law .” Is there opposition here
between the law o f the land and the law o f honor ? Not so. The bank
rupt law contemplates not individuals. It is an act for national prosper
ity— oil applied to the commercial machinery o f a great people. It can
not, in the nature o f the case, regard the particular character o f individual
cases. Like the rain from heaven, it falls upon the just and the unjust.
It reposes some confidence in the debtor as well as the creditor. W e trust
the distinction is apparent between the operation o f such a law and the
voluntary discharge o f the debtor by his creditor.
Not only the late bankrupt law, but all enactments, by which a man is
released from pecuniary obligation, against the will and in spite o f the ef
forts o f his creditor, by no means free him from an honorary obligation to meet
the demand when he is able ; for laws and acts o f government are general
in their nature, and may be opposed to equity in some special instances.
It is only Supreme wisdom that can frame laws and principles to act with
out exception, and with such a nice adjustment o f parts, that no one can
interfere with another. The bankrupt law may give opportunity, in one
case in a thousand, for fraud ; it may positively harm one man while it
benefits a m illion; and still this injured person is part o f a great commu
nity, and in time he may receive back a part, perhaps the whole, o f what
he has lost, by a higher general prosperity. But even i f it is so, the law
is good and ju s t; not perfect in its operation, for what human law is ?
Morals o f Trade.
451
There are additional reasons for an opinion, we are aware, much at
variance with many minds. The writer pretends not in these papers to
utter certain truth; but these are some o f the arguments by which such
an opinion is supported, and it is hoped that those who differ in opinion
upon any o f the points assumed, will do the public the service o f stating
them; that by a comparison o f opinions, or rather arguments, the truth
may be arrived at. How much more kindness and gracefulness would
characterize public discussions, i f we were in the habit o f stating our opin
ions modestly, with the concession that they may be erroneous ? Instead
o f saying, “ It is so— it cannot be otherwise,” words which can only be
used in mathematical and experimental science, let it rather be said, “ It
seems so to me, for these reasons.”
For there is nothing which so blinds
the understanding as the passions. Bigotry begets bigotry; assertion is
answered by assertion; argument and reason are too tame, too feeble, to
express the torrent o f feeling which fills us. W e would resort to violence
if we could, and hurl our words, like flaming thunderbolts, in the faces o f
our opponents. In this heated contest, the object for which we began to
strive is forgotten; victory is now the object, to be obtained by any means.
As two nations at war, for mutual injuries, inflicted far from the spot
where the contending armies meet, seem to be fighting for the territory
which is the scene o f the combat, the acquisition or loss o f which is a mat
ter o f no moment to either; so in our arguments do we often lose sight o f
the original ground we occupied, and become anxious for a petty victory,
which may discommode our adversary, without benefiting ourselves.
Thus has it too often been in religious and political controversies.
The next question we wish to consider is, whether there ought to be any
such paper known in trade as “ honorary paper,” called so, to distinguish
it from other pecuniary obligations, given over the signature; paper which,
in any event, must be paid to the full amount o f the obligation, while in
case o f failure, the common circulating paper o f a firm comes in for a
certain percentage only ? N ow the rule or custom as it exists among
merchants has always seemed to the writer radically wrong.
But let us first inquire what this “ honorary paper” is, what entitles a
common note o f hand to this name ? It is thus: A firm finds itself in a
sinking condition; cannot meet its demands, and goes to a broker or
brother merchant and borrows money to keep alive its credit. This
money is obtained by a full exposure o f the state o f its affairs, and with an
assurance that it shall be paid in any event. The borrowing firm does
fa il; and this money is paid to the full amount, perhaps with exorbitant
interest; and this is called “ honorary paper.”
T o look at the case exactly as it is, this is the version o f it. A knows
B to be bankrupt, or nearly s o ; without aid he cannot live a day. Un
der these circumstances A lends B money, to enable him to keep up an
appearance o f soundness. B y the use o f this money B goes on and buys
goods o f C and D, who think him as sound as ever. Perhaps B takes
desperate steps to retrieve him self; rushes wildly into speculation, and, by
the aid A has afforded him, involves hundreds in his own ruin.
A looks on calm ly and unconcernedly at the result. He is safe by the
laws and customs o f trade. He has reliance enough upon the factitious
honor o f B to feel sure o f the payment o f his claim. But in fact he is the
last person who ought to be paid in strict ju stice; for he has been a kind
o f endorser o f B to C and D. By this money he has furnished him he has
452
Morals o f Trade.
aided B to deceive many m e n ; not that he has been engaged in any
swindling operation, but the result o f such contrivances is, that many
men are deceived; furnish goods and money from the appearance o f B ’s
affairs— an appearance which is not real, because in fact that money in
the bank or those goods in his store are pledged to A by the laws of
honor.
And why is it not right that A should be paid to the full amount o f his
claim, i f such was the engagement o f B ? Simply by that maxim o f law
and justice, “ that no man shall take advantage o f his own wrong.”
Whatever may have been the motive o f A in lending B the money, (it
may have been friendship and not interest money,) he has become the
abettor o f mischief, and has no right to claim exemption from loss. The
fact that A knows, by private confidence, the state o f B ’s affairs, gives him
in equity no claim . C and D, creditors o f B, believe him sound ; and did
they not think him so, they might secure themselves at any moment.
T h ey have confidence in B also, but it is a trust founded upon his general
credit, a generous reliance in his honor as a man and a merchant. Now
the fact that they are deceived in this trust, deceived, too, b y the conni
vance o f a third party, by no rule o f justice makes their claim inferior to
his who so aids in the deception.
But suppose that it is only friendship that prompts the loan on the part
o f A ; this alters not the case. A ll that can be said o f it, then, is, that it
is not so bad as i f he had lent B the money at an exorbitant rate. W e
must not suffer our minds to be turned from justice by any romance o f
feeling. Friendship is a stronger feeling among some men than love o f
money. Still purer would be the case, i f regard for the wife and children
o f B had prompted the lo a n ; and the case might be made better and bet
ter by peculiar circumstances, and yet it would be on the side o f wrong.
W e say it is radically unjust, and though it has an appearance o f justice,
the morality is extremely superficial that supports such a custom.
Perhaps we have stated an extravagant case. W e intended to do so.
W e are not charging such acts upon merchants generally ; far from i t ;
but whenever such agreements do take place, in any degree, they are con
trary to strict justice and fairness. The case o f one man lending money
to another by having a knowledge o f his affairs, is not widely different from
an endorsement o f his note. I f A endorses B ’ s note to C and B , and he
fails, how is it then ? W hat is the effect o f this endorsement ? W h y, it
enables B to purchase goods o f C and D. And what is the effect o f this
private loan ? W h y, it enables B to purchase goods o f C and D also.
W here, w e ask, is the immense difference o f the two cases ? One is open
and the other is private. Both go to establish, and, in a measure, assume
the credit o f B. He is dependent upon A ; acts by his means. N ow i f
A knows his affairs to be bad and dangerous, and wishes him to have the
chance o f retrieving himself, he has no right to have the gratification o f
such a result, whether it be in the shape o f friendship or money, by shift
ing the risk off his own shoulders and putting it upon C and D . His object
is to assist B, and it may be that by this loan he does assist him indeed, and
enables him to ride out the storm o f some commercial tempest, and no one
is ever the wiser for the matter. But we are contending for principles,
not for any particular case. There is a risk somewhere in lending B this
money, and he who enjoys the advantage should assume the risk. No
one certainly w ill dispute this. Suppose that in past days A himself has
Morals o f Trade.
453
been in difficulty and had his dark hours, and B was the friend that served
him by a confidential loan. How unjust! how unkind ! says some one, in
A, should he not return the favor ! So say we a lso; but we must also add,
that if B fails A should prove his gratitude by bearing a part o f the loss.
But let us take another case o f a smaller and more common kind, which
involves the same principle. A young man in the country is assisted by
his father or his uncle to build a house ; put up a store; stock it with
goods, and carry on business. This young man is the ostensible owner
of this property. By the credit it furnishes him he buys and traffics, and
becomes involved in large debts, which he cannot pay. His creditors
come upon him and levy upon his house and store, when lo ! it turns out
that his father owns all the property, and they cannot collect a farthing.
How is this ? W h y the court says, it was the duty o f those who gave the
young man credit, to find out who owned the property, by examination o f
the record. So be it. How does the morality o f the matter stand ? W e
are not writing law papers, but “ Morals o f T rade.”
Has there been any
deception here ? Let every honest man decide such plain questions for
himself.
But should we push this principle still further, and say, that credit ob
tained by any kind o f deception or secrecy is wrongly obtained, shall we
be deemed infatuated with honesty ? It certainly may be said that no
man may endorse his own note, by putting on an appearance o f wealth he
does not possess. Men are, in the main, what they seem. The world
has reason to trust to appearances. He is a bad man who doubts this.
But one may not in strict justice take advantage o f his position in society
to obtain credit, when he knows he does not deserve it. The injury such
a man does reaches further than the particular wrong he commits. It
shakes the faith o f the dealer in the honesty o f his fellow-men ; closes up
his heart and makes him so w ary and careful that trade has no life and
spirit. Credit is the soul o f trade, and with a few remarks upon its extent
and nature we shall close this paper.
How far may a man ask credit ? A man who is in no business, who has
no property, who has no trade, may only ask credit to the amount he can
earn by day labor, in menial offices. I f he cannot work at all, he can
have no credit, and is a beggar. H e must ask people to give him so and
so, without hope o f repayment. The mechanic may ask credit to the
amount he can earn in his trade, after deducting the personal expenses
o f himself and his family. The farmer also may ask credit to the value
o f his farm and stock, adding thereto the yearly profits. But he had bet
ter not take credit to one tenth their value. The farmer should give
credit, not ask it. The merchant, and to him credit is every thing, may
ask credit to such an amount, that his capital can cover any possible fall
in the value o f the articles he purchases. For instance, suppose a young
merchant has a capital o f twenty thousand dollars, he may in strict justice
buy goods to the amount o f fifty thousand dollars, because, should he fail,
his twenty thousand capital will cover any probable loss, and make his
creditors whole. W e are saying what he may do i f he chooses, with a
clean conscience; not attempting to fix the exact amount, for circumstances
must determine this, it may be stated, as a general principle, that a man
may ask such credit that in case o f ill success the injury falls only upon
himself.
A man with no capital can justly have no credit, because i f property
VOL. v i.— no . v.
47
454
Heat o f the Seasons.
falls he has no means o f making up the loss ; and yet such an one may
nave a certain credit furnished, granted, and given him, in consideration
o f skill in business, honesty, virtue, and en erg y ; another assuming the
risk. For virtue and good habits are a kind o f capital which will insure
a man success, by causing others who have money to assume his risks.
Knowledge also is capital, and in the same w ay as virtue it may enjoy a
kind o f commercial credit. A person well versed in any art or science,
a painter o f pictures, the designer, the architect, may enjoy a wider credit
than a person who can bring only his manual labor to minister to his sup
port. The skilful carpenter or mason, well tried in his trade, even if
without a farthing in his pocket, may justly ask credit to a small amount,
because the art o f building and the working in stone or brick are always
in requisition. Thus it may be seen what is the foundation o f credit, and
the extent o f it, in all the cases cited, will vary with circumstances. If
it be said that persons without property, and possessing only an art, may
die suddenly, and thus cause loss to the creditor; it will be understood
from this additional risk, why the seller often charges to such persons a
higher price for his goods, they paying him in this w ay for the risk he
incurs.
It would be an interesting task to examine the reasons o f all the apparent
exceptions in trade, which often puzzle the buyer and even the seller him
self, when called upon to account for them. Custom and a long course
o f experience have introduced into tradq many abuses which look like
justice; and much injustice, as it seems upon a casual view, is found to
rest upon the best o f reasons. These remarks have been written, not as
a text-book o f morals, but as speculations upon one o f the most interesting
subjects in the world.
A rt . V III.— H E A T O F T H E S E A S O N S *
T he earth derives its changing seasons from its motion in its orbit, its
day and night from its motion o f rotation, and its light and heat from the
sun, the centre o f its revolutions.
Heat was probably one o f the great agents employed in completing the
work o f creation, as it now is one o f the great maintaining and exciting
powers through the whole economy o f nature. Without alluding to its
almost magical uses in the arts, its physical effects will surprise any one
not accustomed to contemplate its phenomena. The immediate results o f
its action are perceptible to our senses, we see it in combustion, we feel it
in the variations o f temperature, in the scorchings o f fire, and in the direct
rays o f the sun ; but its nature, i. e. the form and substance o f the matter
o f heat, like those o f gravity and magnetism, are unknown. It is probably
a subtle fluid, perhaps more subtle even than light, emanating from the
sun, distributed throughout our planet, and doubtless through the whole
solar system. Its force decreases in the same ratio as light and gravity,
according to the squares o f the distance. It has a mysterious union with
electricity— is latent in many, i f not in all bodies, and is under the con
* From an unpublished work on astronomy.
Heat o f the Seasons.
455
trol o f fixed laws, by which its action is regulated. By its power the
most refractory rocks are melted, explosive gases are elicited, and water,
converted by it to steam, upheaves the earth by volcanoes and earthquakes.
By its influence the earth is clothed with vegetation— combined with light
it creates the varying hues, and with moisture, the rich fruits and golden
grain which gladden the world. Its hidden effects are developed as the
mysteries o f nature are disclosed by science, and its action is seen in many
o f the solid strata and the deepest caverns o f the earth. It is essential also
to animal life. It warms the blood, and kindles the organized being into a
capacity for intellectual existence. It gives elasticity to the muscles, energy
and activity to the nerves, prepares the human frame, which else were hut
a model, for the reception o f the breath o f life, and for the inhabitation o f
the immortal spirit. Without its all-pervading power the light o f heaven
would look abroad upon the black domain o f mineral aggregations, upon
shapeless masses o f inorganic matter, and endless wastes o f frozen
waters.
The heat o f the seasons is due to the sun, and its principal changes to
the position o f the earth in relation to that luminary. The earth is nearest
the sun on the 21st o f December, the winter solstice; but the highest de
gree o f temperature is not caused by his greatest proximity to the earth,
but by his greatest altitude, and the longest time he is present above the
horizon. These two causes co-operate, and more than compensate for his
greater distance. W ere the earth a homogeneous body with an even sur
face, receiving the sun’s heat without any modifying agencies, the differ
ence in the amount o f heat received when at his least or greatest distance
would be only one fifteenth, and i f the days and nights were equal, the
heat imbibed through the day would be distributed through the night,
making the temperature a perpetual spring ; but when the sun is more
than half the time above the horizon the amount o f heat must be greater,
and when the reverse less. Consequently as the length o f the day in
creases, in the same ratio w ill the heat imparted by the sun increase, and
the night’ s distribution will not exhaust the day’s supply. In the long days
o f temperate latitudes, the heat being furnished faster than it is dispersed,
it is hotter at two o ’clock than at twelve o ’clock, although more heat is
radiated from the sun at 12 o ’clock than at two. B y the same rule the
temperature o f July and August is generally higher than that o f June,
from the heat accumulated in the long days near the summer solstice.
The greater altitude o f the sun is another efficient cause o f the increased
heat o f summer ■ for when the days are longest he is nearest the zenith,
and a much larger portion o f his rays reach the earth the more nearly
vertical the direction is in which they fall upon i t ; but at the winter sol
stice he reaches his lowest point as regards the northern hemisphere, and
being but a few hours above the horizon, the obliquity o f his rays co
inciding with the diminished time, the amount o f heat received by the
earth will be as much below, as in summer it was above the medium, or
average. This small portion o f heat w ill then be distributed much faster
than it is supplied, and the cold, which although it is only the absence o f
heat, yet to our senses w ill assume a positive character, and hold a deso
lating sway over the long nights and short days o f the temperate and
frigid zones. A s the northern or southern declination o f the sun brings
him to either solstice, the opposite pole is involved in cold and darkness
456
Heat o f the Seasons.
for six months.* At Spitzbergen, the furthest northern explored land, in
lat. 78 deg. N ., the darkness prevails five months ; at the North Georgian
Islands and Nova Zembla, in lat. 75 deg. N ., four months ; thus varying
with the latitude, until at 66 deg., which is the arctic boundary, the longest
night is twenty-four hours. The sun is h alf the time above and half the
time below the horizon in the course o f the sidereal year, all over the
world, every place having an equal amount o f light and darkness, though
differently divided as to day and night, and every periotj alternates with a
corresponding period during the sun’s northern and southern declination.
I f there are six months’ darkness at the north pole when the sun is in
Capricorn, there are six months’ light when he is in Cancer. The whole
year may be divided into pairs o f days, the dark and long winter nights
when the sun is south o f the equator, being compensated by the same
quantity o f light and long days when he returns north to the summer
solstice.
The total amount o f solar radiation thus determines the general tempe
rature o f the g lo b e ; but there are many agencies in operation which
modify the effects o f these laws, and render the variations almost endless,
and in some instances unaccountable. The mean annual temperature
w ill be constant at each parallel o f latitude so far as depends on the heat
o f the sun, but a countless diversity w ill occur from the presence o f bodies
more or less capable o f reflecting or absorbing heat; by the elevation o f
continents; the contiguity o f lakes, seas, oceans, rivers, and forests; by
snow-crowned mountains; by sandy deserts; by deep v a lle y s; and by
streams o f water, which abstract heat by the process o f evaporation. The
cold currents o f air which sweep from the poles over the snow and ice o f
the arctic and antarctic regions, temper the fervid heats o f the torrid zones,
while the warm currents from the equator soften the rigors o f the polar
frosts. The G u lf Stream is a striking example. It brings so much heat
from the tropics as to keep an open sea off the western coasts o f Spitz
bergen.
The ocean covers three fourths o f the surface o f the globe, and is not
subject to such extremes as the land. Much heat is transmitted to its
deep recesses, and it is more equally diffused over its comparatively even
surface. It radiates a more genial heat than that reflected from opaque
substances ; it tempers the atmosphere by evaporation; in winter it miti
gates the cold o f coasts and islands, and fans adjacent countries in summer
with its delicious breezes. On the contrary, the cold blasts, freighted with
snow and ice from Hudson’ s bay, the Frozen ocean, and the northern
lakes, carry flights o f unseasonable winter throughout the North American
continent, causing those fierce extremes, which, prodigal o f human life,
make war upon the comfort and health o f the inhabitants. Similar effects,
though less in degree, proceed from the winds which traverse the wastes
o f Siberia upon the midland countries o f A s ia ; and these again are re* The arctic night is not totally dark throughout the whole period of the sun’s absence,
for the twilight continues some days, and is afterward peculiarly glowing in the southern
edge o f the horizon at noon. The moonlight too, and the dazzling whiteness o f the
snow, with the long dawn corresponding with the preceding twilight, increasing as the
sun approaches, make the maximum o f darkness o f not very long continuance.
The aurora borealis often illuminates those dreary silent solitudes with its fantastic
movements, and mild, pale-colored lights.
Heat o f the Seasons.
457
modified by the immense chains o f Caucasus and the mountains o f T ar
tary. Europe enjoys a more equable climate. A belt o f open sea sepa
rates it from the Frozen ocean, and it has the further advantage o f being
on the western side o f the continent.
The reflection o f heat from sandy deserts is another qualifying cause
o f great extent. The desert o f Sahara, in Africa, comprehends 194,000
square leagues— being twice the area o f the Mediterranean sea. It re
flects from its burning surface a heat the more intense from receiving the
continued action o f an almost vertical sun. No long nights distribute the
heat accumulated through the d a y ; no forests shade the soil from i t ; no
green valleys, or heaths, or meadows, absorb it and cool the atmosphere
by evaporation. The unelastic air rolls in mighty volumes, laden with
sand and mephitic gases, overwhelming the traveller.— drifting its moving
surface to the pyramids and the Red sea— intimating to Cairo and Suez
the fate o f Memphis and Thebes. Crossing the Mediterranean, the sirocco
suffocates the inhabitants o f Italy, as the simoom does the caravan in the
desert— and Arabia sends its wasting heats and sickening hot-wind or
kamsin, beyond the Euphrates and the Persian gulf, to Shiraz and Bag
dad.
ISOTHERMAL LINES
are those circuits around the planet where equal degrees o f heat are ex
perienced. These lines are parallel each side o f the equator until the
22d or 23d deg. o f latitude. A t those parallels they begin to diverge, and
at 36 deg. and 40 deg. begin to be altogether irregular. In the northern
hemisphere, one line o f equal annual temperature runs through Rome and
Florence, in latitude 43 de^. north, and through Raleigh, in North Caro
lina, in latitude 36 deg. ; another through the Netherlands, latitude 51
deg., and Boston, in N ew England, latitude 42 deg. Edinburgh, in lati
tude 55 deg., averages also with Boston. Ulco, in Lapland, latitude 66
deg., ranges with Lake Winnipeg, in latitude 54 deg. M. Kupffer, the
Russian traveller, states that the temperature o f the air and soil vary the
most rapidly near and beyond the 45th deg. o f north latitude in Am erica
and Europe. The difference w ill be more readily appreciated by com
paring Edinburgh, with all its elegance and luxuries— its palaces and halls
o f learning— its gifted scholars and polished society, with Labrador in the
same parallel o f latitude, on the eastern side o f the west continent, locked
in the silent thraldom o f icy desolation; inhabited by a few straggling
Esquimaux in huts o f snow, with no other clothing but the skins o f wild
beasts, and depending for subsistence on sea-dogs and other ocean
monsters.
The heat and weight o f the atmosphere diminish, as we ascend from
the level o f the sea. These facts are proved by the observation o f
travellers, ascent in balloons, by the zones o f vegetation on the sides
o f mountains, by the rarity and want o f elasticity in the air, and by the
excessive cold at great elevations, as well on those under the line as those
near the pole. A t the foot o f mountains, under the equator, spring the
fruits and flowers o f the tropics ; then follows a zone o f the olive and the
vine— then the broad-leaved forests— then the fir and the pine— then
the dwarf willows, stunted shrubs, evergreens and mosses; and last, the
crests o f never-changing snow.
There are yet other known causes o f the variations o f temperature; but
47*
458
Our Trade with England.
w hy the air in any given place should be mild and genial one day, and
chilled by frost, or scorched by heat on the next day follow ing; or why
one period should be occupied with one extreme, and the succeeding by
another; or why one season should be racked with all extremes in quick
succession, are mysteries which neither chemistry, mathematics, nor natu
ral philosophy, have ever yet penetrated or revealed. Electricity is known
to have a powerful agency in atmospherical phenomena, and doubtless
extends its invisible influence over every part o f organized matter. It
seems to be a kindred element with heat, and what are now the obscure
results o f their joint action, may at some future day resolve the mysteries
o f meteorology in connection with the variations o f temperature.
A rt . IX .— O U R T R A D E W IT H E N G L A N D .
To the Editor o f the M erchants’ M agazine :
I have always been a warm advocate for what is called Home Industry,
holding that, in the main, political economy does not essentially differ from
domestic econ om y; and believing that a family, to be really prosperous
and independent, must from within itself and from its own resources sup
ply its own wants. There may be some things requisite for the general
comfort, which it cannot produce but with great inconvenience and disad
vantage ; and some, which it cannot produce at a l l ; but these it must not
have unless it has the means o f paying for them from the products o f its
own industry ; it must contract no debts unless it has a certain provision
for their discharge; and it must indulge in no luxuries or superfluities
whatever, unless from surplus gains beyond what are demanded for the
substantial comforts and absolute necessaries o f life. These principles
are sure, with industry, frugality, and temperance, to secure domestic
prosperity, and they are equally and as indispensably the elements o f na
tional independence. Under these circumstances I am an advocate for a
tariff, which shall protect our home manufactures against a ruinous foreign
competition; and I am for absolute prohibition, i f it were practicable and
necessary either for the just reward o f our own industry or for the pre
vention o f any luxurious indulgences which we have not the means o f
paying for, and which can be had only at the expense o f debts and obli
gations to other nations, which render us slaves or bankrupts, and too often
in the end break down qll good morals and all principles o f commercial
honor. This has been most signally illustrated in our own history o f a
few years past.
But with some persons a tariff is advocated on grounds o f retaliation,
with which I have no sympathy, and particularly in respect to England.
She, it is said, ought to deal with us upon terms o f perfect reciprocity,
which I adm it; and further, ought to repeal her com laws and her heavy
duties upon foreign products, and ought to admit our products upon much
lower terms than she now insists upon, altogether to our disadvantage.
Now in the first place her corn laws and her prohibitory duties are the very
principles o f political economy upon which we are so anxious that our
own government should a c t ; and while we desire such imposts as will
protect our manufactures o f cotton and wool, it is not very consistent in
Our Trade with England.
459
us to complain o f her corn laws, which are wholly designed to protect and
encourage the greatest interest o f her country, her agricultural interest.
But the truth is that we make complaints in this case which are without
reason, as though in the trade with England the advantages were all on
her side and the injuries all on o u rs; as though she took nothing from us
in payment for the vast amount o f her productions which we consume.
Further, if her high duties upon foreign wheat were repealed, it would
be no advantage to us, excepting as it might reduce the amount cultivated
in E n glan d; we should not sell a single barrel o f flour the more to her,
but for the reason above assigned, and not on account o f the reduction o f
price ; and i f her ports were thrown entirely open, we should then have
to come in competition with the cheap Indian corn o f the Mediterranean,
and the wheat o f Poland and the north o f Europe, and the Black Sea.
But as it is, Great Britain admits an immense amount o f our wheat free
o f duty, and o f flour at a very low impost, into Canada; and this wheat,
after being manufactured at the Canadian mills, goes to Great Britain,
with a very light, i f any duty, as colonial produce; though it is w ell
known that Canada by no means produces flour or bread enough for her
own consumption.
But to set this matter in a clear light, let us examine some facts in the
case, which cannot be controverted.
Our imports from England, in the year ending on the 30th September,
1840, were $33,114,138. Our exports to England the same year were,
of domestic produce, $51,951,778, and o f foreign produce $5,096,882 ; or
total exports, $58,148,660.
But in another authentic English document it is stated, that the exports
from the United States to Great Britain and her dominions, exceeded
64,000,000 dollars in the year ending with September, 1840 ; and in that
amount were included the following agricultural productions o f the United
States:
1,717,019 bushels o f wheat, valued at .
. $1,630,371
“ .
.
. 6,925,637
1,317,229 bbls. o f flour
“ .
.
.
229,807
386,611 bushels o f corn
132,099 bbls. o f com meal “ .
.
.
446,464
“
.
.
.
156,913
49,193 “ rye flour
Rye, oats, peas, and beans
“ .
76,604
74,876 bbls. o f ship bread
“ .
.
.
292,167
15,466 kegs
“
32,122 hhds. o f tobacco
“ .
3,770,770
“ $41,983,922
495,366,332 lbs. o f cotton
“
418,577
24,039 tierces o f rice
------------------- 42,402,499
Total, $55,937,232
These are certainly remarkable documents, and will surprise many.
If the balance then is so much in our favor, how comes it that we are so
largely indebted to England ? It is mainly for borrowed money, which
we have squandered most sham efully; for useless goods, and mere finery
and luxuries, which we bought when our rag currency was full to reple
tion ; which we have attempted to pay in the stock o f broken banks, use
less railroads, town lots in cities in the moon, and too many other fraud-
Mercantile Law Department.
460
ulent w a y s; but which, i f we have any honor or principle left, we ought
never to think o f paying but in that which is o f undoubted, fixed, and per
manent value. It would seem in these matters as though we had much
less to complain o f in Great Britain than she has in her prodigal, extrava
gant, and wasteful daughter.
h . c.
MERCANTILE
LAW
DEPARTMENT.
D I G E S T OF R E C E N T E N G L I S H C A S E S . *
I n C h a n c e r y .— M ining Company.— Shareholder. Abandonment.— Shareholders in
mining companies lying by and declining to advance money for the necessary working
o f the mines, while other persons make such advances, are liable to forfeit their shares.
A shareholder in a mining company had paid all the instalments due on his shares, in
October, 1826. Further calls, which were not authorized by the deed o f settlement of
the company, were made on him for necessary outlays. These calls the shareholder
declined to pay, and a correspondence on the subject, between him and the secretary of
the company, terminated in September, 1828; and the shares were, in a manner un
warranted by the deed, declared to be forfeited. The sums required for necessary out
lays were furnished by the other shareholders; and in 1836, the mines began to be very
productive. In 1838, claims were made, and a bill was filed for the purpose o f obtain
ing a restoration o f the forfeited shares. The bill was dismissed, the plaintiff not being
entitled to any relief in equity.
A t L a w . — Bills o f Lading.— C, who was in the habit o f consigning to the plaintiffs
as his factors, consigned a particular quantity o f goods to cover a bill for £ 5 0 0 which he
had drawn on the plaintiffs and they had accepted. T he goods were put on board a
vessel o f the defendants’ , and a receipt was signed by the mate, “ Received from C for
E & Co.” (the plaintiffs;) the defendants however refused to sign a bill o f lading, as they
said it was well known that C was in difficulties. W hen the goods arrived at the end
o f the voyage, they were demanded by the plaintiffs, but the defendants refused to de
liver them, claiming a general lien for freight against C. Held, that the plaintiffs were
entitled to recover in trover against the defendants, as, after signing the receipt in ques
tion, they were stopped from disputing the plaintiffs’ property in the goods.
A t L a w .— Bankrupt.— A , a bankrupt, in order to induce B, a creditor, to sign his
certificate, paid him a certain sum at the time o f signing it, and gave him a promissory
note for a further sum, which was afterward paid. A afterward made a demand upon
B for the sum so paid him ; upon which B, before any action brought, paid both sums
over to A ’s assignees. An action being subsequently brought by A against B : Held,
that such payment to the assignees was a good answer, and that A was not entitled to
recover.
A
t
L a w .— Railway.
Construction o f Contract.— The plaintiffs manufactured for the
defendants certain locomotive engines under the following contract: “ Each engine and
tender to be subject to a performance o f a distance o f 1000 miles, with proper loads,
during which trial Messrs. S & Co. (the plaintiffs) are to be liable to any breakage which
may occur, if arising from defective materials, or workmanship; but they are not to be
* Furnished by C h a r l e s E d w a r d s , Esq., master in chancery, of New York— and to
be continued.
461
Mercantile Law Department.
responsible for, nor liable to the repair o f any breakage or damage, whether resulting
from collision, neglect, or mismanagement o f any o f the company’s servants, or any
other circumstances, save and except defective materials or workmanship. T he per
formance to which each engine is to be subjected, to take place within one month from
the day on which the engine is reported ready to start, in default o f which Messrs. S.
& Co. shall forthwith be released from any responsibility in respect o f the said engine ;
the balance to be paid on the satisfactory completion o f the trial, and release o f Messrs.
S.
& Co. from further responsibility in respect o f such engine.”
It was also agreed that
the fire-boxes should be made o f copper, o f the thickness o f 7-16ths o f an inch, (and they
were accordingly so made,) and that the best materials and workmanship were to be used.
The engines performed the distance o f 1000 miles within the month of trial; but nine
months afterward the fire-box o f one o f them burst, when it was discovered that the
copper had been considerably reduced in thickness. Held, in an action against the de
fendants for the balance due from them, that they could not give evidence o f an inherent
defect in the copper, no fraud being alleged, since, by the terms o f the contract, the
month’s trial, if satisfactory, was to release the defendants from all responsibility in re
spect o f bad materials and bad workmanship.
A t L a w .— Promissory Note. Presentment.— A promissory note, payable on demand,
but not presented for payment, will not be rendered over due by mere lapse o f time.
A t L a w .— Bill o f Exchange. Notice o f Dishonor. Discharging Drawer.— The
plaintiff, the endorser o f a bill o f exchange, was a member o f a partnership carrying on
business at Smethwick, near Birmingham. Before the bill became due, he went to Tremadoc, in Caernarvonshire, where he had mining business, having directed all communi
cations to be sent to him at that place. The bill having been dishonored in London on
the 17th o f August, notice o f the dishonor reached the Birmingham Bank on the 19th,
and was by them forwarded to the plaintiff at Tremadoc, who received it on the 21st,
and on the following day sent a notice o f the dishonor to the defendant. I f the notice
had been sent to Smethwick instead o f Tremadoc, the plaintiff might have sent it to
the defendant one day earlier.
Held, that the defendant, by directing the bill to be sent
to Tremadoc instead o f Smethwick, had not thereby discharged the drawer.
RULES IN B A N K R U P T C Y .
In the district court o f the United States (Massachusetts) the following rules have
been recently adopted:
1. Every petitioner for the benefit o f the bankrupt act shall give bond with sufficient
sureties, in form prescribed by the court, in the sum o f sixty dollars, to secure the pay
ment o f all such costs as shall be taxed and allowed by the court.
2. The sufficiency o f the sureties shall be certified by a commissioner o f the county in
which the sureties, or a major part o f them, reside.
3. On and after the first Tuesday o f April, 1842, such bond shall be filed at the time
of presenting the petition. And every such petitioner who has filed, or shall, before
said first Tuesday o f April, 1842, file his petition, shall give such bond on or before the
first Tuesday o f May, 1842, unless for special cause shown the time shall be enlarged
by the court.
4. Every creditor who shall file a petition to have any person declared a bankrupt in
invitum, or an involuntary bankrupt, shall prove his debt before a commissioner, in the
manner and form now prescribed by the rules o f the court, at or before the time o f filing
such petition, mutatis mutandis. He shall also, at or before the same time, execute a bond,
with one or more sureties, to the United States, for such sum and in such form as the
court shall prescribe, for the payment o f all costs which shall be awarded against him by
4C2
Mercantile Miscellanies.
the court under the proceedings upon such petition, and the court will ensure the pay
ment o f such costs by attachment, if necessary.
He shall also make oath, or if consci
entiously scrupulous of taking an oath, he shall make solemn affirmation to the truth of
the facts stated in the petition, according to his best information, knowledge, and belief.
But one partner o f a firm or company may, in such case, make the oath or solemn affir
mation and give the bond, if the debt be due to the firm or com pany; and if the peti
tion be by a corporation, the oath or affirmation and the bond may be by the same per
son who is authorized by the act o f congress to prove a debt due to the corporation.
5. Every creditor or other person in interest, who shall appear in bankruptcy and file
any petition, answer, objection, or other proceeding in writing in bankrupt, shall in like
manner prove his debt, claim, or other interest at or before the time o f filing thereof, and
he shall give bond, with sureties in like manner, for the payment o f all costs which shall
thereupon be awarded against him by the court in bankruptcy; and he shall also make
oath or solemn affirmation in like manner to the truth o f the facts stated in such petition,
answer, objection, or other proceeding in writing, according to his best information,
knowledge, and belief, mutatis mutandis.
6. In all cases where any creditor or other person in interest shall appear on the re
turn day for hearing the petition, to file objections against any person who has filed a
petition to be declared a voluntary bankrupt under the act o f congress, he shall, unless
some other time shall, for special cause ^iown upon affidavit, be directed by the court,
file his objections in writing in such form as shall be prescribed by the court, within
four days from such day, otherwise the objections shall be deemed to be waived and
withdrawn.
7. Whenever in cases not specially provided for by the act o f congress, a particular
time is or shall be prescribed by the rules o f the court for notice to be given of any peti
tion, application, or other proceeding in bankruptcy, the court may, in its discretion, for
good cause shown upon affidavit, enlarge or lessen or vary the time, whenever the rights
o f the creditors or other parties may, in the opinion o f the court, seem to require it for
the purposes o f justice and equity.
MERCANTILE
MI SCE L L ANI E S.
C A PT U R E OF A B R IT IS H M E R C H A N T M A N .
A N INCIDENT OF TH E R E V O L U T IO N A R Y W A R OF 1776.
The following incident is related by Mrs. Adams, under date o f “ Braintree, Mass.,
April 7th, 1776,” in one o f those very interesting letters to her husband, the late vener
able John Adams, one o f the leaders o f the revolution, and afterwards President of the
United States:—
“ Yesterday, was taken into Cohasset, by three whale boats which went from the shore
“ on purpose, a snow from the Grenadas, laden with 125,000 pounds coffee, 43 barrels
“ sugar, and 354 puncheons o f rum— a valuable prize.”
The capture o f this vessel at an early period o f the war, was thus related a few years
ago, by one o f the survivors, Mr. Luther Barnes, o f Hingham, since dead.
A young man o f Boston, just then a graduate o f Harvard College, being at the time
spoken o f on a gunning excursion to Cohasset, a little village near the seashore, about
twenty miles from Boston, descried at an early hour o f the morning a British vessel in
the offing, deeply laden, and armed, but which had the appearance o f being a merchant
man. He attentively surveyed her with a glass, and perceiving but few men astir, a
thought occurred to him that if instant means were used, she might be surprised and
captured.
Mercantile Miscellanies.
463
Of an ardent temperament, and excited by the spirit o f adventure, he hastened back to
the village, and roused from their beds eight men whom he knew, and in whom he could
confide, and to them communicated the discovery he had m ade; his belief that she could
be taken, and his purpose; together with an offer to lead them on to the attack, if they
would join him. The men thus aroused, readily agreed to take a look at the craft, and
see what could be done, and then to determine whether or not to peril their lives in t^ie
undertaking. Providing themselves hastily with such weapons as were at hand, con
sisting o f ducking guns and fish spears, they hurried to the quay ; and, on coming within
sight o f the vessel, she was again carefully surveyed by every one in turn with the glass.
The sea was calm, for at that hour the morning breeze had not yet sprung up, and she
was drifting out with the ebb tide.
A council was held, and after prompt and quick deliberation, all hands agreed to join
in the adventure, and attempt her capture.
A whale boat lying on the beach was shoved
through the surf and manned, and the strictest silence being enjoined, off they rowed
towards her ; the young man taking the helm.
On coming within musket shot distance, her ports were opened, and a tier o f four guns
on the larboard side displayed; a voice at the same time hailing them, “ Keep off, you
d--------- d Yankee rebels, or we’ll sink y o u !” The little band, nothing daunted, quickly
laid upon their oars, and bent their bodies downward, as had been already concerted,
so that the first broadside might pass over them ; intending, if they escaped destruction
from the fire, to board her in the smoke, before time was given to reload.
After waiting
in this breathless and fearful state o f suspense a minute, and no guns being fired, they
again, at the word o f command, sprung to their oars, and in a short space o f time, the
little bark was shot rapidly alongside, and under her guns. In another moment they had
climbed up her sides, their fish spears now serving them for boarding pikes, and gained
possession o f her deck, little or no resistance being made. By this time the captain was
ascending the companion ladder, and learning the fate o f his vessel, surrendered himself
a prisoner.
It appeared that he had made land about midnight, and believing from his proximity
to the British fleet, (then riding at anchor in Boston harbor, almost in sight,) that no
danger was to be apprehended, his usual vigilance had slumbered, and part o f the crew
on the watch below had not yet turned out. The captors were soon joined by a rein
forcement o f men in two more boats, and the prize was towed into Cohasset harbor, and
at once unladen. She proved to be the British snow Industry, o f 250 tons burden, from
Tobago, bound to Boston, with a cargo o f coffee, sugar, and rum for the use o f the
British fleet. It afforded a very opportune supply for the colonists o f Massachusetts Bay,
as the articles were then much needed.
The names o f the captors were Colonel Lathrop, Seth Stoddard, H. Oakes, Luther
Barnes, Mr. Tower, and four others. The young man who projected and led on the
enterprise, was Isaiah Doane, Esq., o f Boston; afterward a well-known merchant o f
that city, long since deceased.
d.
SM UGGLED GOODS,
AN ANECDOTE OF TH E L A S T W A R .
The impressions made on our boyhood are the strongest we ever receive, and remain
with us even to old age as fresh and vivid as at the first. During our clerkship we form
opinions o f men and things which no after circumstances can eradicate. A boy when
he sees any inconsistency o f character in another, makes no allowance for circumstances;
he judges only the naked fact, and condemns or approves accordingly. I never knew a
man who stood well in the community, o f whom his clerks thought meanly, and hence
464
Mercantile Miscellanies.
I would rather have the good opinion o f my clerk than a stranger’s, for if less critical, it
is more honest and true. I recollect being made a confidant in the secrets o f two indi
viduals when a boy, which gave me a contempt for their characters that I could never
get rid of, and if brought in contact in business with them now, I should always suspect
their honesty. They were heated politicians, with so hearty a contempt for John Bull,
that taking their own word for it, they would not so much as eat with a knife and fork
o f English manufacture, if they could avoid it. During the war, the English had pos
session o f Castine, at the head o f Penobscot Bay, and smuggling English goods from
that place into the country was extensively practised. The temptation was too great for
the cupidity o f our two republicans, and fairly overcame all their scruples.
I lived at
that time in an eastern town, and one bitter cold night in February, I was called from
my bed by two men whom I never knew before, at two o’clock, to go and receive
several sleigh loads o f smuggled goods, which, by direction o f my employer, I took into
the cellar, through a back way, in the store where I was a clerk, and secreted them
carefully.
One o f the sleighs was loaded with hardware, and in crossing the ferry over the Kennebeck, they met with a sad accident. The only ferry-boat was a large flat gondola.
W hen they arrived on the opposite side, intending to stop for some refreshment, they
drove the sleighs out o f the gondola, except the hindmost one, which being loaded with
the hardware was very heavy and tipped the boat very much. This was permitted to
remain, and while they were regaling themselves, the tide rose, overflowed the sides of
the boat, and sank it. The goods were o f course wet. Am ong them was a package
o f sewing needles, and being accustomed to handling such goods, our republicans em
ployed me to open, dry, and re-pack them in emery, which I did very carefully, at the
expense o f several days’ labor. Needles were five times as dear then as now, so that the
case was valued at some hundreds o f dollars, which but for my care and industry would
have been spoiled entirely. And one day when a customhouse officer came into the
store to search for smuggled goods, I showed him every place in the store except where
they were. The goods were delivered out again and sent in small parcels to Boston and
N ew York for sale. The part I had taken and the value o f my services led me to ex
pect a generous reward, and I congratulated myself with the anticipated profits of fidelity
to the trust reposed in me. W hen the last package o f goods was removed, one o f the
smugglers came to me and said : “ Y ou are a capital little fellow ; if I had you in my
store you would be worth your weight in gold. Always be as faithful, and you will al
ways be trusted.”
Expectation was now on tiptoe; I would not have given a sixpence to insure a twenty
dollar bill in my hand the next moment, but like all high worldly hopes mine were
doomed to disappointment. The republican smuggler put his hand in his pocket and
solemnly drew forth an American half-dollar. “ That,” said he, “ is the real coin, the
true American eagle; keep it, and be sure you always avoid an Englishman as you
would poison.” He took his valise in his hand and walked towards the stage office— I
looked after him till he was out o f sight; and his gait, form, and figure, to the smallest
outline, are as fresh in memory now as at that moment, and the contempt I then felt for
him has never been effaced. I have met him often in the streets o f New Y ork ; he
does not know me, but I never passed him without laughing, though I have kept his
secret to this day.
T he morals which I would draw from this short story, are, first, always make a bar
gain for your services beforehand ; never expect a sense o f justice in a man whom you
know to be dishonest in any thing ; never trust a man’s patriotism who talks loudly in
politics.
P.
465
Bank Statistics.
BANK
STATISTICS.
N E W Y O R K S A V IN G S BAN KS.
The annual reports to the legislature, o f these useful institutions, for the year ending
1st January, 1842, show the following results, viz :—
Deceived in 1841.
P aid in 1841.
Albany Savings Bank,....$151,526
$117,556
do..........
Brooklyn
95,152
65,479
do.......... .. 414,867
Bowery
306,862
Greenwich
do.............
89,082
65,029
do........... .1,222,919
New Y ork
1,039,518
Schenectady do........... ,.
33,650
28,277
do. .......
83,365
Utica
44,175
T
o t a l , .................
..1,790,561
1,666,896
Total Deposits.
$355,774
243,533
792,035
232,436
3,758,912
77,937
*38,676
5,499,303
* Since organization in 1839.
S T A B IL IT Y OF B A N K ST O C K IN BOSTON.
The object o f the following paper, which has, since its appearance in the Boston Mer
cantile Journal, been revised and corrected by the author, Dr. J. Chickering, for the Mer
chants’ Magazine, is to show the comparative value (in August, 1838, and in August,
1841) o f the bank stock in Boston, assuming the sales and quotations at the time as the
standard o f value. The result will show that there have been fluctuations in the value
of some o f the shares during the three years. It is believed that the values affixed to the
shares will not materially differ from the prices in the market at the two epochs, and
therefore may be regarded as the market value.
The first o f the two following tables shows the comparative value o f the shares in the
twenty-five banks now in operation, in August, 1838, and in August, 1841.
In August, 1838, the capital o f these banks amounted to $17,300,000. In 1839, the
capital o f the Merchants’ Bank was increased $500,000, and that o f the Suffolk $250,000,
while, that o f the Market was reduced in 1839 $200,000, and in 1841 $2 40,0 00; the
difference between the increase and the reduction being $310,000, which, added to the
above amount, makes the present amount o f banking capital in Boston $17,610,000.
The reduction o f the capital o f the Market Bank in 1839 was made by the extinction o f
2000 shares which had never been paid fo r ; o f course, the loss on its capital during the three
years from $ 8 8 to $ 6 2 50, or $ 2 5 50 per share, was on 8000 shares only.
In Febru
ary, 1841, the reduction from $800,000 to $560,000 was made in consequence o f a loss
of 30 per cent o f the capital, and the par value o f the shares was reduced by the act from
$100 to $ 7 0 each.
It may be remarked that, during these three years, there was some loss o f dividends
to stockholders. In eleven o f the twenty-five banks, the amount o f dividends paid was
$1,179,500, which is 4.80 per cent per annum on the average capitals o f $8,176,666§,
and is less than 6 per cent per annum by $292,300 or 1.19 per cent. In eight o f them
the annual dividends was 6 per cent per annum on the average capital o f $4,950,000.
In six o f them the dividends have averaged 7.09 7-27 per cent per annum on the average
capital o f $4,500,000.
T he result o f the whole is that the capital o f these 25 banks for
the three years averaged $17,626,666§ per annum, and the dividends averaged 5.72
408-661 per cent per annum, and amounted to 17.17 563-661 per cent in the three years,
and the loss o f dividends was $144,800, or .82 98-661 per cent in three years, and has
averaged $48,266§, or .27 253-661 per cent per annum. T he semi-annual dividends of
the twenty-five banks during the ten years including 1841, or since they have com
menced declaring dividends, have averaged a little over $ 5 80 per cent per annum on
VOL. V i .—
no.
V.
48
466
Bank Statistics.
their capital. Besides, in 1839, the Suffolk Bank divided among the stockholders the
sum o f $250,000 o f its reserved profits, amounting to 33^ per cent o f its capital, upon
occasion o f increasing the capital to $1,000,000, according to an act o f the legislature;
moreover, the $250,000 o f new stock, created in 1839, had improved 14 per cent in
August, 1841, which improvement amounted to $35,000, besides the improvement of 6
per cent on all the shares as mentioned in the following tables:—
NAM ES OF
BANKS.
Capital.
P ar
A ug. 1841. Val.
MARKET VALUE.
D E P R E C IA T IO N INTH R E E YEARS.
IM P R O V E M E N T IN
T H R E E YEARS.
^iu^. 1838. A u g. 1841. P er Ct. Amount. P er Ct. Amount.
$500,000 $100 96 per ct. 94 per ct. 2 p. c $10,000
19iJ p c $96,250
“
500,OOC 100 75
944 “
2* “
600,000
15,000
50 5 2 f pr. sh 54 per sh.
50,000
1,000,000
100 99 per ct. 94 per ct. 5 “
“
104} “
ii “
100 103
8.750
500,000
103
“
i “
3.750
500,000
100 102} “
“
95
“
150,000
100 95
“
1,000,000
104
“
100 104
2 “
“
90
“
10,000
500,000
100 88
“
2 “
103
“
10,000
500,000
100 101
560,000
70 88 per sh. 624 P1'. sh 25£ sh. 204,000
5 “
40.000
800,000 250 95 per ct. 100 per ct.
“
90
“
2 “
3,000
150,000
100 88
102
“
104
“
2
“
40.000
2,000,000
100
“
103
“
1,000,000
100 103
6 p. c. 45,000
90
“
750,000
100 96
“
90
“
500,000
100 90
“
103} “
14} p c 73,125
500,000
100 89
35.000
“
80
“
7 “
500,000
100 87
1,800,000
60 59 per sh. 584 pr. sh
h sh. 15.000
1,000,000
6 “
60,000
500,000
88
“
84 p c 42,500
100 96A “
99
“
2 “
10,000
“
500,000
100 97
mniioo “ 104 “
4 “
32,000
800,000
“
93
“
W ashington,.
100 93
500,000
Atlantic,........
Atlas..............
Boston,..........
C ity,..............
Columbian,...
E agle,............
Freeman’s,...
Globe,............
Granite,.........
Hamilton,.....
M arket,.........
Massachus’ ts,
Mechanics’,...
Merchants’ ,...
N ew Eng’nd,
North,...........
Shawmut,.....
Shoe &. Leat.
South,............
State,.............
Suffolk,.........
Traders’, ......
T rem on t,.....
17,610,000
401,875
Aggregate depreciation in the 3 years,.
.401,500
T
o t a l ,...
Nett aggregate improvement in the 3 years,......................................
$375
Thus there was no depreciation in the aggregate o f stock in the 25 banks in operation
in Boston during the three years from August, 1838, to August, 1841, though there was
some depreciation in the shares o f particular banks. And we doubt not that the real
value o f the stock, as a whole, is now decidedly greater than it was three years ago.
I f we deduct from the whole amount o f depreciation, $401,500, the amount o f depre
ciation in the stock o f the Market Bank, in which it is the greatest o f any o f the banks,
we find there has been an improvement in the twenty-four remaining banks, o f $204,375,
which is an average improvement o f a little more than 1 per cent o f their capital.
T he above comparison presents a result favorable to the stability o f bank stock in Bos
ton, and indicates that there has in general been careful and faithful management o f
these institutions in that city. W ere a similar comparison made o f the other banks in
Massachusetts, it is presumed that the inquiry would sanction as favorable a conclusion.
T he following table will show the comparative value in the market, at the same epochs,
o f the stock o f the ten banks in Boston which have been winding up their concerns dur
ing the last three years. Seven o f them had previously failed, or voluntarily surrendered
their charters, in consequence o f the embarrassed condition to which they were brought
Bank Statistics.
467
by mismanagement. T he American, Hancock, and Middling Interest surrendered their
charters during this period. T w o or three o f them went into operation with very little
of their capital paid in.
O f these ten banks, the Middling Interest Bank declared two dividends, amounting to
7 per cent, in the years 1838 and 1839, while the others declared none, except the
American, Commercial, and Oriental, which divided during these three years, a portion
of their capital stock which is included in the value o f the shares for August, 1841, in the
following table :—
NAMES OF B A N K S .
American,..........
Commercial,......
Commonwealth,.
Franklin,............
Fulton,................
H ancock,............
K ilbv,.................
Lafayette,...........
Middl’g Interest,
Oriental,.............
T o t a l ,...
Capital.
P ar
Value.
$500,000 $100
500,000
100
500,000
100
150,000
100
500,000
100
500,000
100
500,000
100
150,000
100
150,000
100
750,000
100
MARKET
DEPRECIATION IN
VALUE.
A ug. 1838. A ug. 1841. P er Cent.
$78
50
3
0
1
50
0
0
$50
80
1
0
0
12
0
0
214
214
45
43
3
YEARS.
Amount.
28
$140,000
2
10,000
1
38
5,000
190,000
2
22,500
$367,500
$4,200,000
Improvement o f 30 per cent in the stock o f the Commercial Bank,..................
150,000
Nett amount o f depreciation o f these 10 banks,............................ $217,500
This amount is a little more than 4 per cent o f the capital o f $4,200,000 in three years,
and nearly 1£ per cent per annum.
Remarks.— T he charter o f the American Bank was surrendered December 12, 1839.
Dividends o f the capital to the extent o f $ 3 7 £ on a share have been paid, which are in
cluded in the above value for August, 1841.
The charter o f the Commercial Bank was surrendered April 21,1838.
Four dividends
of the capital have been paid to stockholders, amounting to $ 7 6 per share, and are in
cluded in the above.
The Hancock Bank surrendered its charter, December 12,1839. N o dividend o f the
capital has as yet been paid to stockholders. Since the surrender, a large depreciation
has taken place in the supposed value o f its securities.
The charter o f the Kilby Bank was repealed, April 17, 1838.
In August, 1838, the
stock was nominally o f value, but, as most o f it was owned by debtors to the bank, we
have put it down as having suffered no depreciation.
Only a very small part o f the
capital was ever paid in, as was also the case with the Lafayette and Middling Interest
banks.
The Middling Interest Bank failed in August, 1839, and its charter was surrendered
in 1840. In September and October, 1836, when it went into operation, nearly all the
shares, 1157 out o f 1500, the whole number, were taken by, and loans to an amount
equal to the par value, made to, persons who “ remained debtors to the bank, in about
the same proportion, to the time o f the injunction,” on the 5th o f August, 1839. The
value o f the stock, in 1838, and we may add, in 1841, may be regarded rather as nominal.
The charter o f the Oriental Bank was repealed, April 25,1838. T he dividends which
have been paid o f its capital amount to $ 2 8 per share, and are included in the above
value, and the remaining value has been considered worth from $ 1 2 to $15.
Bank Statistics.
468
The whole capital o f the twenty-five banks which are now in operation, was, in 1838,
$1 7,300,000; and that o f the 10 banks, $ 4 ,200 ,000 ; total, $21,500,000; the whole
depreciation o f the stock in the three years, (217,500— 3 7 5 = ) $217,125, which is a
little more than 1 per cent o f the capital.
T he result at which we have arrived by this comparative view, shows the confidence
o f the community in the carefulness and fidelity with which these institutions have been
managed during the three years in question, and may be regarded as a pledge o f the
safety o f this kind o f investment, and o f the stability and good credit which these insti
tutions will hereafter maintain. From Bicknell’s Reporter o f the 31st o f August, 1841, it
appears that in 20 banking and other principal companies in Philadelphia, with an aggre
gate capital o f $62,217,300, the depreciation in the market value o f the stock, from
August 14, 1838, to August 27, 1841, has been $56,757,920, or over 91 per cent o f the
par value, which is 90 per cent greater than that o f the 35 banks in Boston, during the
same period, and, in proportion to capital, over 90 times greater, and in amount, over
two hundred and sixty-one times greater.
A ccording to the foregoing comparative view, the depreciation o f the stock o f the 25
banks was nothing during the three years, and there was, on the whole, rather an im
provement. In reality, the aggregate o f these banks should be presented more favorably.
T he bonus which the Suffolk Bank gave to its stockholders in 1839, in scrip or stock,
to the amount o f $250,000, and 14 per cent on the same, amounting to $35,000, before
mentioned, should be added to $375, and we have $285,375, as the improvement in
these banks, which is nearly one and two thirds o f one per cent on their present capital.
This sum exceeds the depreciation on the 10 banks now winding up their concerns, so
that there has actually been an improvement in the market value o f the aggregate o f the
35 banks in Boston, during the three years from August, 1838, to August, 1841.
B O ST O N B A N K DIVIDEN DS.
S e m i - A n n u a l D iv id e n d s D e c l a r e d
Banks.
Atlas,.......................
Boston,..
E a g le ,........
Freeman’s , .
Traders’ ,.......
U n ion ,..........
Washington,.
T
o t a l ,,
and
P a id
.•*§500,000
. 5 0 0 ,0 0 0
. 6 0 0 ,0 0 0
.1 ,0 0 0 ,0 0 0
. 5 0 0 ,0 0 0
. 5 0 0 ,0 0 0
. 150^000
.1 ,0 0 0 ,0 0 0
. 5 0 0 ,0 0 0
. 5 0 0 ,0 0 0
. 8 0 0 ,0 0 0
. 5 6 0 ,0 0 0
. 1 5 0 ,0 0 0
.2 ,0 0 0 ,0 0 0
.1 ,0 0 0 ,0 0 0
. 7 5 0 ,0 0 0
, 5 0 0 jo 0 0
. 5 0 0 ,0 0 0
.1 ,8 0 0 ,0 0 0
.1 ,0 0 0 ,0 0 0
. 5 0 0 ,0 0 0
. 5 0 0 '0 0 0
. 5 0 0 ,0 0 0
. 800^ 000
. 5 0 0 ,0 0 0
b y the
B anks
in
B o st o n , A
p r il
Dividend.
Capital.
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
..............
.$17,610,000
* 3,200 shares, par $250.
4, 1842.
Amount.
................ $ 1 0 ,0 0 0
................
................
1 5 ,0 0 0
2 1 ,0 0 0
................
1 5 ,0 0 0
................
................
................
................
................
................
................
................
................
5 ,2 0 0
3 0 ,0 0 0
1 2 ,5 0 0
1 5 ,0 0 0
2 2 ,4 0 0
1 6 ,8 0 0
4 ,5 0 0
7 0 ,0 0 0
3 0 ,0 0 0
................
................
................
................
1 7 ,5 0 0
1 5 ,0 0 0
5 4 ,0 0 0
4 0 ,0 0 0
................
1 5 ,0 0 0
................
................
2 4 ,0 0 0
1 0 ,0 0 0
Commercial Statistics.
469
COMMERCI AL STATI STI CS,
COM M E R C E A N D N A V IG A T IO N OF E N G L A N D .
V A L U E O F E X P O R T S IN 1839, 1840, 1841.
It appears from parliamentary documents that the imports into the United Kingdom,
calculated at the official rates o f valuation, amounted in 1839, to .£61,268,320; in 1840,
to £62,004,000 ; and in 1841, to £67,432,964. The exports for the same years, o f the
produce and manufactures o f the United Kingdom, amounted in 1839, to £9 2,459,231;
in 1840, to £ 9 7,40 2,72 6; and in 1841, to £102,705,372. The foreign and colonial
merchandise exported, amounted in 1839, to £1 2,711,318; in 1840, to £1 2,795,990;
and in 1841, to £1 3,77 4,30 6; making the total value o f the produce and manufactures
of the United Kingdom, and foreign and colonial merchandise, exported in 1839,
amount to £105,170,549 ; in 1840, to £110,198,716; and in 1841, to £116,479,678.
E X P O R T S OF B R IT IS H PRODUCE AN D M A N U FA C TU R E S FR O M T H E UN ITED KINGDOM.
Statement o f the E xports o f the Principal A rticles o f British and Irish Produce and
Manufactures, in the year ended 5th January, 1842, compared with the exports o f the
preceding year.
DECLARED VjU,UE OF THE
EXPORTATIONS IN THE YEARS
ENDED 5TI JANUARY.
ARTICLES.
1841.
1842.
£ 5 7 6 ,5 1 9
1 7 ,5 6 7 ,3 1 0
7 ,1 0 1 ,3 0 8
5 7 3 ,1 8 4
4 1 7 ,1 7 8
1 ,3 4 9 ,1 3 7
3 ,3 0 6 ,0 8 8
8 2 2 ,8 7 6
2 ,5 2 4 ,8 5 9
1 ,4 5 0 ,4 6 4
2 3 7 ,3 1 2
1 3 8 ,7 8 7
3 3 6 ,5 2 9
2 1 3 ,4 7 9
7 9 2 ,6 4 8
4 4 0 ,8 9 3
3 3 0 ,2 3 3
4 5 2 ,9 5 7
5 ,3 2 7 ,8 5 3
£ 6 7 4 ,9 2 9
1 6 ,2 0 9 ,2 4 1
7 ,2 6 2 ,5 4 0
o f the fo r e g o in g a r t ic le s ,.............................. £ 4 3 , 9 5 9 ,6 1 4
£ 4 4 ,5 4 5 ,5 9 5
C oa l an d C u lm ,........................................................................................
C otton M a n u fa c tu r e s ,...........................................................................
“
Y a r n , .............................................................................................
E a r th e n w a r e ,.............................................................................................
G la ss ..............................................................................................................
H a rd w a re an d C u t le r y ,........................................................................
L in e n M a n u fa c tu r e s ,.............................................................................
“
Y a r n , ..............................................................................................
M eta ls , v i z :— I r o n a n d S t e e l,..........................................................
C o p p e r an d B ra ss.....................................................
L e a d ,...............................................................................
T i n , in bars, & c .......................................................
T i n P la te s ,...................................................................
S a lt,................................................................................................................
S ilk M a n u fa c tu r e s ,................................................................................
S u ga r, R e f in e d ,.................................................................................... ..
W o o l , S h e e p o r L a m b s ’ , .....................................................................
W o o l le n Y a r n ,........................................................................... .............
T
otal
5 9 0 ,7 7 2
4 2 1 ,2 7 1
1 ,6 2 5 ,1 9 1
3 ,3 5 6 ,0 3 0
9 7 0 ,8 4 0
2 ,8 6 7 ,9 5 0
1 ,5 2 9 ,4 8 8
2 3 8 ,4 6 1
8 6 ,7 0 8
3 6 8 ,0 4 7
1 7 5 ,6 6 3
7 8 6 ,0 6 6
5 4 7 ,8 3 4
5 5 7 ,6 7 6
4 8 9 ,3 4 4
5 ,7 8 7 ,5 4 4
1841.
Statement o f the Declared Value exported in the year ended 5th January.
Russia,............................................. £128,919 Cape o f Good H ope,......................
44,796
Germany,......................................... 751,227 British colonies in N. America,... 446,363
Holland,........................................... 264,444 British W est Indies,.......................
90,847
Belgium,.......................................... 123,506 Foreign W est Indies,....................
71,951
France,.............................................
44,559 United States o f America,............1,069,721
Portugal, Azores, or M adeira,.... 180,260 Brazil,.............................................. 307,930
Spain, and the Canaries,..............
82,682 M exico and the states o f South £ r^|
Gibraltar,.........................................
89,679
A m erica,...... ............................ $
’
Italy,................................................ 222,554 All other pans,................................ 113,442
East Indies and China,................. 608,552
.£5,327,853
Settlements in Australia,.............. 145,062
T o t a l ,.
SPECIFICATION OF T H E E X P O R T S OF W O O LLEN M AN U FA C TU R E S FR O M TH E U . K ., IN
48*
Commercial Statistics.
470
E X P O R T S OF FO R EIGN A N D CO LO N IAL M ERCHANDISE FR O M T H E U N ITED KINGDOM .
Statement o f the Quantities Exported o f the Principal A rticles, in the year ended 5th
Jan. 1842, compared with the preceding two years, ended 5th Jan. 1840 and 1841.
ARTICLES.
1840.
C o c o a ,.................................................
486,905
Coffee, v iz : produce o f the British posses
|
24,014
sions in America and Africa,........pounds
Do. imported from Cape o f G. H. Mauritius, and Brit. Pos. in East Indies :—
Produce,..................................... .pounds
12,385
Foreign,...................................... .pounds
1,258,681
•Foreign Coffee, otherwise imported,..... lbs.
11,467,507
C om , v iz :—
W heat,...........................................
7,770
Barley,............................................
620
Oats,................................................
40,205
108,920
Wheatmeal and Flour,...............
Dyes and Dyeing Stuffs, v iz :—
Cochineal,......................................
518,125
Indigo,............................................
4,345,247
L ac-d ye,........................................
283,356
L ogw ood,.......................................
5,249
Metals, v iz :—
Copper, unwrought,.....................
11,270
Iron, in bars or unwrought,.........
4,484
Steel, unwrought,.........................
13,987
3,736
Spelter,...........................................
52,644
T in ,.................................................
22,766
Oil, Olive,..........................................
166,948
Opium,.................................................
1 0 ,1 9 3
Quicksilver,........................................
1 ,8 7 5 ,5 0 9
R ice, not in the husk,......................
2 4 5 ,4 6 7
S pices:—
Cinnamon,......................................
Cloves,............................................ .pounds
M ace,.............................................
Nutmegs,........................................
Pepper,............................................
Pimento,..........................................
Spirits, v iz :—
R um ,................. gallons (including 0 . P.)
Brandy,............. gallons (including 0 . P.)
G eneva,............gallons (including 0 . P.)
Sugar, v iz :—
O f British Possessions in Am erica,...cwt.
O f Mauritius,................................
East India, British Possessions,.
Foreign, o f all sorts,....................
T obacco, v iz :—
Unmanufactured,........................
Foreign manufactured, and Snuff, pounds
W ine, v iz :—
Cape,..............................................
F ren ch,..........................................
Other sorts,....................................
W o o l, Cotton : viz :—
O f British Possess, in America,. .pounds
---------------------------- in E. Indies,. .pounds
O f other parts,.............................. .pounds
W ool, Sheep and Lambs’ ,.............. .pounds
1841.
1842.
865,022
471,019
64,584
238,104
32,180
3,510,200
9,100,450
121,738
7,312,041
6,602,213
31,744
4,379
36,486
181,306
3,067
2,114
23,483
85,696
819,329
4,587,398
161,397
6,983
873,064
4,827,891
273,748
4,368
6,029
5,661
13,199
2,530
58,747
6,594
130,887
11,413
3,561
17,173
947
28,124
25,345
159,149
3 5 ,8 4 8
1 ,5 1 8 ,4 1 1
2 8 8 ,6 6 4
6 1 ,1 0 4
1 ,7 6 8 ,3 0 7
2 2 9 ,1 6 4
6 5 6 ,9 8 4
4 3 4 ,9 8 6
6 5 ,7 0 4
4 ,0 7 3
1 0 7 ,8 1 3
8 ,3 3 4 ,2 2 6
8 3 9 ,1 7 3
6 4 4 ,5 2 0
4 6 4 ,3 4 0
2 0 7 ,3 1 0
1 7 ,3 7 3
5 1 ,2 4 4
5 ,0 4 9 ,4 2 3
1 ,2 8 0 ,6 8 2
1 ,2 6 2 ,1 6 4
5 1 4 ,4 7 9
2 6 ,7 4 5
2 ,8 0 2
7 8 ,3 8 8
6 ,3 7 3 ,1 4 5
9 6 7 ,1 7 0
1 ,1 5 5 ,7 5 3
1 ,1 2 1 ,9 6 5
6 0 4 ,5 6 3
1 ,3 2 6 ,4 1 0
1 ,5 1 4 ,3 1 0
7 5 9 ,6 0 7
1 ,0 9 9 ,3 9 6
1 ,3 1 3 ,8 4 5
4 7 2 ,6 3 6
7 ,8 9 8
692
1 ,8 8 0
3 7 5 ,2 4 9
3 ,8 1 2
1 ,5 4 1
2 ,6 3 7
2 2 1 ,5 2 3
4 ,6 3 6
3 ,8 2 4
8 ,6 2 6
4 9 8 ,3 8 6
9 ,2 7 7 ,5 1 8
1 ,2 0 5 ,2 5 8
1 2 ,2 2 4 ,5 9 4
1 ,0 9 3 ,L15
1 0 ,0 9 0 ,1 7 1
5 0 2 ,0 4 6
3 ,5 2 0
1 2 1 ,5 2 5
1 ,9 2 8 ,0 4 0
5 ,4 6 7
1 5 5 ,3 7 5
2 ,2 7 6 ,2 3 6
1 8 ,7 0 5
1 3 2 ,2 1 5
1 ,7 8 0 ,9 3 9
1 ,3 6 2
1 1 ,6 4 7 ,0 7 3
2 7 ,0 8 9 ,8 0 3
6 9 5 ,0 4 9
5 ,6 9 6
2 0 ,4 8 8 ,5 3 4
1 8 ,1 7 8 ,9 9 9
1 ,0 1 4 ,6 2 5
5 ,3 8 2
2 1 ,3 2 1 ,9 1 6
1 6 ,3 4 6 ,2 8 7
2 ,5 5 4 ,4 5 5
Commercial Statistics.
471
VESSELS EM PLOYED IN T H E FO R E IG N TR A D E OF TH E U N ITED KINGDOM.
Statement o f the Number and Tonnage o f Vessels, distinguishing the Countries to
which they belonged, which entered inwards and cleared outwards in the year ended
5th January., 1842, compared with the Entries and Clearances in the two preceding
years ; stated exclusively o f Vessels in ballast, and o f those employed in the Coasting
Trade between Great Britain and Ireland.
I . ----- E N TERED IN W A R D S .
1840.
COUNTRIES T O W H IC H VESSELS
BELO NG ED .
1841.
1842.
Ships. Tonnage. Ships. Tonnage. Ships. Tonnage.
United Kingdom and dependenc’s, 14,348 2,756,533 14,370 2,807,367 14,419 2,900,749
73,012
275
79,445
72,552
259
246
Russia,...............................................
28*257
236
33,913
30,229
207
210
Sweden,............................................
936 141,689
969 134,449
845 134,268
Norway,............ -..............................
84,411
Denmark,.......................................... 1,557 110,727 1,440 114,590 1,169
Prussia,.............................................. 1,165 222,258 1,186 218,403 1,076 201,685
83,267 1,207
90,842 1,271 103,061
Other German states,...................... 1,171
61,923
669
56,952
731
582
49,517
Holland,.............................................
239
42,141
25,124
373
32,648
231
Belgium,............................................
60,063 1,110
59,065
France,.............................................. 1,508 102,123 1,045
7,732
72
8,312
52
68
6,768
Spain,.................................................
6,872
63
87
73
8,228
8,983
Portugal,............................................
168
72
40,026
18,878
42
10,275
Italian States.....................................
1
1
200
250
530 295,230
United States o f America,.............
887 432,486
579 286,658
3
2
States in America, Africa, or Asia,
7
1,290
386
967
T
o t a l , ..........................
23,114 3,957,468 22,725 4,105,207 21,858 3,982,129
II.----- CLEARED
COUNTRIES T O W H IC H VESSELS
BELO NG ED .
O U T W A R D S.
1840.
1841.
1842.
Ships. Tonnage. Ships. Tonnage. Ships. Tonnage.
United Kingdom and dependenc’s, 11,952 2,197,014 12,934 2,408,792 14,243 2,624,680
94
Russia,...............................................
133
25,903
33,484
36,828
112
167
18,650
Sweden,............................................
151
17,287
20,734
160
Norway,............................................
295
28,153
265
24,768
263
28,039
Denmark,.......................................... 1,255
86,064 1,210
85,249 1,256
94,555
Prussia,..............................................
556
560
94,475
98,517
652 113,286
801
757
55,051
60,324 1,019
Other German states,......................
86,092
513
628
Holland,...........................................
48,830
58,59&
541
52,830
Belgium,............................................
359
297
44,367
52,567
307
37,751
1,705
France,................. ............................ 1,671 136,923
136,614 1,550 120,287
52
Spain,................................................
6,221
59
6,916
6,649
48
76
55
Portugal,............................................
6,021
8,914
82
9,751
26,633
67
Italian States,...................................
119
18,346
7,824
32
2
5
1,024
289
813 396,566
United States o f A m erica,.............
579 29lj586
565 307,380
States in America, Africa, or Asia,
2
418
2
476
1
114
T
o t a l , ..........................
18,424 3,085,752 19,710 3,392,626 20,861 3,543,456
VESSELS E M PLO YED IN T H E COASTIN G T R A D E OF TH E U N ITED KINGDOM .
Entered Inwards.— 1840, Vessels, 130,254; Tonnage, 10,610,404. 1841, Vessels,
132,299; Tonnage, 10,766,056. 1842, Vessels, 130,402; Tonnage, 10,876,750.
Cleared Outwards.— 1840, Vessels, 142,895; Tonnage, 11,266,073. 1841, Vessels,
146,127 ; Tonnage, 11,417,991. 1842, Vessels, 143,877; Tonnage, 11,750,152.
The above statement includes those vessels employed in coasting between Great
Britain and Ireland.
472
Commercial Statistics.
E X P O R T OF T E A S F R O M C H IN A T O T H E U N IT E D S T A T E S .
Statement o f the Comparative Export o f Teas to the United States; years 1832-’33 to
1840-’41, to ls£ J u ly; also, E xports from 30th June to \0th November, 1841.
CHESTS.
Kinds.
1832-3 183 3-4 1834-5 1835-6 1836-7 1837-8 1838-9 ’3 9 -’40 1840-1 1841-2
Souchong,
P ow ch ’n^,
5506
] 3665
1445
779
867
2183
2898
169
52
34815 52278 35245 64760 29139 52135 11659 32968 19329
4723
5733
4619
4644
7164
9181
8768
7720
3199
2563
2192
1030 2273
1604
629
1819
3186
528
341
5887
2081
Blacks,..
55766 65096 42787 72519 37570 63041 22350 49571 23108
7968
16500 16346 19986 13112 8850 17888
5242
2186
76557 83426 93056 70146 65018 130226 60305 24971
16002 23086 24557 20986 8245 23258 12693
3998
7335
8002
9373
8343 7774 14615 2798 2706
7736
7444 8051
6911
6691 13328
2307
1889
980
1299
5211
1212
561
908
1820
2445
Hyson,..... 14248 23787
Y . Hyson, 51363 86115
H y’n Skin, 31736 31591
Gunp’der,.
6614 10154
Imperial,...
5939
9424
T w an kay,
4872
2777
Greens,. 114772 163848 125119 139603 160234 12059 98416 201135 84557 38195
Blacks,.. 55766 65096 42787 72519 37570 63041 22350 49571 23108
7968
T
o tal,
170538 228944 167906212122 197804 183100 120766 250706 107665 46163
The total exports to Great Britain from 30th June, 1840, to November 19, 1841, are
35,085,752 pounds, say 436,783 chests; o f which 341,274 are black teas, and 95,509
green, v iz :—
Chests.
Hyson,.................................................. 28,477
T w an kay,........................................... 24,153
Hyson Skin,....................................... 3,860
Y oung Hyson,.................................... 16,698
Chests.
Gunpowder,........................................ 14,028
Imperial,.............................................. 8,293
T
o t a l , ..........................
95,509
C O T T O N IM P O R T E D IN T O G R E A T B R IT A IN FR O M T H E E A S T INDIES
A N D T H E U N IT E D S T A T E S .
The following table shows the quantity o f cotton imported into Great Britain, from the
East Indies and the United States, respectively, in different years, from 1812 to 1841:—•
IM P O R T A T IO N S
E A ST INDIES.
B R IT A IN .
E AST IN D IES.
Bales.
Bales.
Bales.
1812... ... 2,607
1813... ... 1,429
1814... ... 13,048
1815... ... 22,357
1816... ... 30,670
1817... ...120,202
1818... ...247,659
1819... ...184,259
1820... ... 57,923
1821... ... 30,095
1822... ... 19,263
1823....... 38,393
1824....... 50,852
1825.. .... 60,484
1826.. .... 64,699
OF COTTON IN T O G R E A T
U N ITED S T A T E S .
....... ........
....... ........
...............
...............
...............
....... ........
....... ........
...............
...............
...............
...............
...............
...............
....... ........
...... ........
95,331
37,720 )
48,853 \ *
203,051
166,077
199,669
207,580
205,161
302,395
300,070
329,906
452,533
283,871
423,446
395,852
1 8 2 7 .......
1 8 2 8 .......
1 8 2 9 .......
1 8 3 0 .......
1 8 3 1 .......
1 8 3 2 .......
1 8 3 3 .......
1 8 3 4 .......
1 8 3 5 .......
1 8 3 6 .......
1 8 3 7 .......
1 8 3 8 .......
1 8 3 9 .......
1 8 4 0 .......
1 8 4 1 .......
........... 7 3 ,7 3 8
........... 8 4 ,8 5 5
........... 8 0 ,4 8 9
........... 3 5 ,0 1 7
........... 7 6 ,7 6 4
.......... 1 0 9 ,2 9 1
........... 9 4 ,6 9 8
........... 8 9 ,0 9 8
...........1 1 7 ,9 6 5
.......... 2 1 9 ,4 9 3
...........1 4 5 ,1 7 4
...........1 0 7 ,2 0 0
...........1 3 2 ,9 0 0
.......... 2 1 6 ,3 0 0
.......... 2 7 4 ,9 8 4
U N ITE D STA TE S.
Bales.
.. ..
.. .. .............. 4 4 4 ,3 9 0
.. .. .............. 4 6 3 ,0 7 6
.. .. .............. 6 1 8 ,5 2 7
.. . . .............. 6 0 8 ,8 8 7
. . . . ............. 6 2 8 ,7 6 6
.. . . ............ 6 5 4 ,7 8 6
. . . . ............. 7 3 3 ,5 2 8
.. . . .............. 7 6 3 ,1 9 9
.. . . .............. 7 6 4 ,7 0 7
.. . . .............. 8 4 4 ,8 1 2
.. . . ..............1 ,1 2 4 ,8 0 0
.. .. .............. 8 1 4 ,5 0 0
.. . . ............ 1 ,2 3 7 ,5 0 0
.. . . .............. 9 0 2 ,1 9 1
* Imported through Amelia Island under neutral flags, and captured at sea.
Commercial Statistics.
473
PR ICE S OF V A R IO U S A R T IC L E S IN N O R T H C A R O L IN A ,
F R O M 1813 T O 1840.
Statement o f the P rices o f the follow ing A rticles in the Month o f M ay, each year.
Years.
May,
1813
1814
1815
1816
1817
1818
1819
1820
1821
1822
1823
1824
1825
1826
1827
1828
1829
1830
1831
1832
1833
1834
1835
1836
1837
1838
1839
1840
Cotton.
Pound.
10
15
15
23
23
28
12J
13
10
12
6
12*
22
8
7
8
8
8
5
8
9
11
15
14
6
6
13
5
Tobacco.
100 lbs.
a ll
a 16
a 18
a 25
a 25
a 30
S3!
5'
12
61
8
31
a 13
a l3 J
a 8J
a 13
a 24
a 10
a 8),
a 91
a 9
a 91
a
a 91
a lO f
a 124
a 17
a 16
a 8
a 8
a 14
a 8
a
a
a
a
a
a
21 a
li
2i
3
2
li
2
11
li
a
a
a
a
a
a
a
a
5
6
15
8
9
6
4
3}
4
3
3
4
51
4
3
4
4
3
2 a 31
3 a
4 a
2 a
21a
8 a
3 a
6
61
31
4
10
5
Flour.
Barrel.
W heat.
Bushel.
Corn.
Bushel.
Bacon.
Pound.
Sugar.
Pound.
8 a 91 # 1 50 a 1 60 $ 0 75 a
18 a 25
8 a
1 25 a 1 30
71
18 a 20
1 10 a 1 25
64
18 a 22
7 a 8
1 25 a 1 30
0 80 a 0 90
15 a 20
12 a 14
1 60 a
15 a 18 15 a 20
2 00 a 2 10
8 a 9
0 90 a 1 00 13 a 14 13 a 16
1 35 a 1 50
1 00 a 1 10
17 a 20
61
12 a 16
0 60 a
10 a 121
31
10 a 121
51 a 6 i
1 20 a
0 80 a
5
8 a 9 10 a 12£
3 i a 41
0 75 a 0 80
0 40 a 0 45 6 a 7 10 a 12|
3 f a 41
0 70 a 0 80
6 1 a 8 10 a 13
5 a
0 80 a
7 a 8
9 a 121
41 a 5
9 a 121
0 80 a 0 90
7 a 8
6
a
0 65 a 0 70
0 50 a 0 55
8 10 a 13
3^ a 4
44 a 5
0 70 a 0 80
0 40 a 0 45 6 a 7
9 a 121
0 43 a 0 45 6 a 7
3 a 4
0 65 a 0 70
8 a 12
0 80 a
34 a 41
6 a
0 75 a 0 80
8 a 12
4 a 4J
0 50 a 0 55 7 i a 8
0 75 a 0 80
8 a 12
0 65 a
4 a 5
0 85 a 0 90
61 a
8 a 12
54 a 6
0 90 a
9 a 10
1 05 a 1 20
9 a 121
0 80 a 0 90 8 a 9
5 a 6
1 20 a
9 a 121
5^ a 7
0 75 a 0 80 12 a 13 12 a 14
1 25 a
6 a 7
1 50 a
0 85 a 0 90 10 a 11
8 a 121
6 a
1 40 a
0 75 a 0 80 9 a 1 0 1 9 a 12
5 a 6
1 05 a 1 10110 a 12
1 10 a 1 15
8 a 12
4^ a 51
70 a
80
0 60 a 0 65 71 a 81 6 a 10
n
n
COM M E R C E OF JA V A .
The following tables, extracted from a survey o f the Dutch colonial trade, published by
the government o f the Hague, exhibits the steady progress o f the trade and commerce o f
the island o f Java :—
IM P O R T S.
Goods.
1 836.. .............. F l.1 7 ,8 4 8 ,7 4 3
1 837..
2 1 ,2 7 4 ,1 7 8
1 8 3 8 ..
2 3 ,2 0 5 ,2 1 2
1 8 3 9 ..
2 3 ,9 8 9 ,7 8 0
1 8 4 0 ..
2 6 ,4 3 4 ,6 2 4
EXPORTS.
Specie.
........ 6 7 6 ,1 5 0
........ 5 1 3 ,0 5 3
........ 9 7 6 ,6 6 5
........ 9 7 1 ,2 3 2
........2 ,4 3 9 ,2 6 9
Wares.
1 8 3 6 ................
1 8 3 7 .................
1 8 3 8 .................
1 8 3 9 .................
1 8 4 0 .................
Specie.
9 3 2 ,4 9 2
.F l .4 0 ,2 8 3 ,8 9 5 .......
. . . . 4 2 , 3 8 2 , 2 8 7 .......
8 3 9 ,5 3 2
. . . . 4 2 , 0 7 3 , 9 3 4 ....... .1 ,2 6 6 ,2 9 3
. . . . 5 6 ,7 1 8 ,8 3 3 .......
9 5 6 ,1 0 1
. . . . 7 3 , 9 7 2 , 7 9 2 .......
2 5 7 ,7 6 1
The arrivals in the Java ports in the same years were, from—
HOLLAND.
1 8 3 6 ..
1 8 3 7 ..
1 8 3 8 ..
1 8 3 9 ..
1 8 4 0 ..
EA S TE R N AR C H IPE LA G O .
Ships.
Lasts.
. . .1 2 8 . .
.. .1 1 1 . .
. . .1 5 3 . .
. . .1 7 0 . .
.. .2 3 9 . .
.........3 1 ,0 0 6
.........3 1 ,7 1 0
...........4 0 ,2 8 4
......... 4 5 ,0 8 1
......... 7 0 ,5 3 5
Ships
EN G LAN D .
Ships.
Lasts.
1 8 3 6 .........2 ,2 5 4 ......... 3 9 0 ,2 0 4
1 8 3 7 ......... 1 ,2 7 3 .......... 3 9 ,3 7 7
1 8 3 8 ......... 1 ,1 9 6 .......... 3 9 ,9 8 2
1 8 3 9 ......... 1 ,2 7 9 .......... 4 1 ,0 7 2
1 8 4 0 ......... 1 ,3 8 9 .......... 4 2 ,8 2 2
1 8 3 6 ...
1 8 3 7 ...
1 8 3 8 ...
1 8 3 9 ...
1 8 4 0 ...
Lasts.
....... 3 2 . . . .. ..6 ,1 4 2
........1 8 . ... . . . . 2 , 8 3 9
....... 3 6 . . . . .. ..6 ,9 6 8
........3 2 . . . . .. ..5 ,4 1 8
....... 2 1 . . . . . . . . 3 , 7 9 1
It is stated in a late Paris journal, that— “ T he value o f the rich island o f Java to the
revenues o f Holland may be gathered from the fact that only eight years labor (1833 to
1841) has brought its produce o f coffee, from twelve millions o f kilogrammes annually
to fifty-five millions; its sugar, from seven millions to fifty millions; and its indigo, from
scarcely anything at all to upwards o f eight hundred thousand kilogrammes.”
474
Commercial Statistics.
N E W Y O R K PRICES OF F LO U R , BEEF, POR K, A N D TO BACCO,
F R O M 1828 T O 1840.
A Table, exhibiting the P rices o f Flour, Beef, Pork, and Tobacco in the city o f New
York, in the months o f March and September o f each year from 1828 to 1840.
Periods.
Flour— Barrel. B eef—Barrel. Tobacco— lb. P ork— Barrel.
1828, M arch,................
“
September,.........
1829, M arch,................
it
September,.........
1830, M arch,................
il
September,.........
1831, M arch,................
(i
September,.........
1832, M arch,................
“
September,.........
1833, M arch,................
“
September,.........
1834, M arch,................
it
September,.........
1835, M arch,................
it
September,.........
1836, M arch,................
it
September,.........
1837, M arch,................
(i
September,.........
1838, M arch,................
“
September,.........
1839, M arch,................
it
September,.........
1840, M arch,................
EXPORTS
FROM
$ 5 12J
6 124
8 00
5 62
5 00
5 25
7 12
5 87
5 87
6 00
6 25
5 75
4 75
5 37
5 62
5 874
7 75
9 25
12 00
9 62
8 12
8 50
8 37
6 50
5 75
$6
6
7
7
6
6
5
4
5
5
5
6
5
6
7
8
6
7
8
9
11
12
11
11
9
BUENOS A Y R E S
00
50
25
624
00
00
75
874
50
50
50
00
75
25
00
62
75
25
50
00
25
00
50
00
25
TO
8
10
9
10
9
9
10
11
10
11
10
11
10
9
10
14
16
18
18
13
14
18
18
13
13
44
4
44
5
54
44
44
44
44
5
6
64
7
74
8
74
74
74
7i
74
124
114
10
11
THE
U N IT E D
62
75
87
75
00
87
25
00
87
87
75
87
00
25
00
25
25
25
25
00
00
50
62
00
00
STATES.
Statement of the Exports from Buenos Ayres to the UnitedStates, fromNov. 1 ,
to Sept. 3 0 , 1 8 4 1 , inclusive.
HIDES.
Dry Ox and Cow.
B o s t o n ,.......................
S a l e m ,.......................
.
.
.
P h ila d e lp h ia ,...........
.
T
.1 ,7 8 3 ,6 1 8
o t a l ,..
CALF.
1 0 ,5 9 0
N e w Y o r k , ............
P h ila d e lp h ia ,.........
T
otal,
........ ....4 4 ,5 6 9
HAIR.
Arrobas.
B o s t o n ,.....................
S a l e m ,......................
N ew Y o rk ,..........
Philadelphia,........
Baltimore,.............
T
otal,
5 ,3 2 5
1 ,8 2 0
6 ,2 0 5
4 ,9 2 4
980
........ ..1 2 7 ,0 1 5
2 5 ,4 6 5 ....................
2 ,6 7 7 ....................
3 2 'l 6 3 ....................
1 2 ,7 3 0 ....................
3 ,5 0 0
1 7 8 ,3 7 0
WOOL.
NUTRIA.
Pounds.
3 0 ,7 2 4
300
2 3 ,4 0 0
3 ,0 7 8
Arrobas.
Arrobas.
2 8 ,7 8 5
1 ,6 2 0
2 1 ,8 0 9
4 ,9 9 6
5 ,0 0 5
8 2 0 ,1 9 0
8 7 0 ,2 4 0
2 ,0 4 0
19^987
CHINCHILLA.
Dozen.
.......
.......
.......
....... ............
4 3 2 ,9 4 4
TALLOW.
.................... 1 9 4 ,4 6 2 ....................
....................
4 2 3 ....................
................... 1 4 9 ,7 9 2 ...................
....................
7 5 ,9 1 8 ....................
....................
4 ,7 2 0 ....................
1,3 2 8
1 0 5 ,7 7 9
3 6 5 ,1 1 5
Number.
...................
....................
5 ,7 9 9 ....................
8 ,1 8 8 ....................
....................
Horse.
1 7 ,4 5 3 ..............................
4 ,9 4 1 ................
..............
1 ,7 0 9 ..............................
SKINS.
SHEEP.
Number.
B o s t o n ,.....................
Do. Salted.
1 0 1 ,2 5 1 ................. ...........
5 1 ,5 3 9 .................. ...........
1 1 6 ,6 4 0 .................
4 5 > 1 2 .................. ...........
2 1 ,4 1 4 ..................
1840,
800
800
HORNS.
Number.
........ ...........
....... ...........
....... ...........
....... ...........
....... ...........
9 8 ,4 0 0
3 6 ,0 0 0
1 5 5 ,8 9 1
5 2 ,0 0 0
3 6 ,0 0 0
1 ,6 1 8 ,8 5 4
Commercial Statistics.
475
FU EL IM P O R T E D IN T O M A SS A C H U S E T T S .
Statement o f the Foreign Fuel imported into Massachusetts, chiefly from Great Britain
and her Provinces in North A m erica; average fo r fou r years, viz— 1835,1836,1837,
and 1838; derived from legislative documents.
B ITU M IN O U S COAL.
Port o f Boston,.......................
Plymouth,................................
Marblehead,.
.3 0 ,5 5 5 ch a ld ro n s , at $ 1 0 0 0 .............. .............. $ 3 0 5 ,5 5 0
1 ,7 1 0
.
1 71
do.
10 0 0 .............. ..............
.
880
do.
10 0 0 .............. ..............
8 ,8 0 0
157
ton s, at
8 0 0 .............. ..............
1 ,2 5 8
8 9 8 c h a ld r o n s , at
10 0 0 .............. ..............
8 ,9 8 0
.10 0 0 ............. ..............
6 2 ,2 4 0
. 6 ,2 2 4
do.
. 1 ,1 5 9
do.
10 0 0 .............. ..............
1 1 ,5 9 5
.
292
do.
10 0 0 .............. ..............
2 ,9 2 0
WOOD.
. 5 ,5 9 0
c o r d s , at
$ 6 0 0 ......... . ..............
Boston,.....................................
Estimate for all the other ports in Massachusetts, value,........................................
3 3 ,5 4 0
160,000
Total value o f foreign fuel imported into Massachusetts,.......................... $596,593
T o this should be added a statement o f the fuel imported from other states o f the
Union. T he following is the average for four years.
B ITU M IN OU S
COAL FR O M
RICH M OND, V A .
Boston,............................................... 4,234 chaldrons, at $ 1 0 00..
A N T H R A C IT E
$42,340
COAL.
tons, at
Boston,.............................................. .71,851
$ 7 50............
7 50........... ............
Salem,............................................... . 4,000
do.
Fall River and Taunton,.............. .11,000
do.
■ 7 50........... ............
Marblehead,.................................... .
do.
7 50........... ............
167
Holmes’ H ole,................................. .
70
do.
7 50........... ............
Estimate for all the other ports in Massachusetts, value,
............
30,000
82,500
1,252
525
300,000
Total value o f domestic coal imported into Massachusetts,.......................$995,499
W OOD.
Boston,..
Salem,...
Lynn,..
..90,000
cords, at
$ 6 00.................. ....$ 5 4 0 ,0 0 0
.30,000
do.
6 00.................. . . . . 180,000
.10,000
do.
6 00................... . ...
60,000
24,000
. 4,000
do.
6 00.................. . ...
. 4,642
do.
6 00.................. . ...
28,852
. ...
60,000
Massachusetts, value,.
$891,852
>f all kinds imported into Massachusetts,.. ..$2,483,944
C O N SU M P T IO N OF C O T T O N IN T H E U N IT E D S T A T E S .
Statement o f the Consumption o f Cotton in the United States, not including any manu
factured west o f Virginia or south o f the Potomac, except in P ittsburg, P a., and
Richmond, Va.
Bales.
Bales.
Crop o f 1826-27............................. 103,483 Crop o f 1834-35............................. 216,888
“
1827-28........................... 120,593
“
1835-36........................... 226,733
“
1828-29........................... 118,853
“
1836-37........................... 222,540
“
1829-30........................... 126,512
“
1837-38........................... 246,061
“
1830-31........................... 182,142
“
1838-39........................... 276,018
“
1831-32........................... 173,800
“
1839-40........................... 295,193
“
1832-33.......................... 194,412
“
1840-41........................... 297,288
“
1833-34........................... 196,413
C O T T O N M A N U F A C T U R E S OF T H E U N IT E D S T A T E S E X P O R T E D .
Statement o f the E xports o f Colton Manufactures, o f Home M anufacture, from the
United States, from 1835 to 1840, inclusive.
1835.
$2,858,000 1838..
$3,758,000
1836.
2.225.000 1839..
2.975.000
1837.
2.831.000 1840..
3.549.000
Statistics o f Population.
476
STATISTICS
OF
POPULATION.
P O P U L A T IO N OF E N G L A N D .
Comparative Statement o f the Population o f England in 1801, 1811, 1821, 1831, and
1841, showing the Increase and Decrease in each County.
Bedford,..............
Berks,.................
Buckingham,.....
Cambridge,.........
Chester,..............
Cornwall,............
Cumberland,......
Derby,.................
Devon,................
Dorset,................
Durham,.............
Essex,.................
Gloucester,.........
Hereford,............
Hertford,.............
Huntingdon,......
K en t,..................
Lancaster,..........
Leicester,...........
Lincoln,..............
Middlesex,..........
M onm outh,.......
Norfolk,..............
Northampton,....
Northumberland,
Nottingham,......
O xford,...............
S alop ,.................
Som erset,..........
Southampton,....
Stafford,..............
Suffolk,...............
Surrey,................
Sussex,...............
W arwick,...........
Westmoreland,..
W ilts,.................
W orcester,.........
Y ork (the East
R iding,)..........
City o f Y ork and
Ainstey,..........
Y ork (the North
R idin g,)..........
Y ork (the West
R iding,)..........
T o t a l , ...........
1801.
1811.
1821.
1831.
1841.
C*
1
00
rH
| 1821-31.
C O UN TIES.
1801-11.
Increase P er Ct.
1
CO
00
63,393
109,215
107,444
89,346
191,751
188,269
117,230
161,142
343,001
115,319
160,361
226,437
250,809
89,191
97,577
37,568
307,624
672,731
130,081
208,557
818,129
45,582
273,371
131,757
157,101
140,350
109,620
16,356
167,639
273,750
219,656
239,153
210,431
269,043
159,311
208,190
41,617
185,107
139,333
95,483
70,213
83,716
107,937 11
145,389
118,277
131,977
160,226 8
117,650
134,068
146,529
155,989 9
121,909
101,109
143,955
164,509 13
227,031
270,098
334,391
395,300 18
300,938
216,667
257,447
341,269 15
133,744
156,124
169,681
177,912 14
185,487
237,170
213,333
272,202 15
383,308
494,478
439,040
533,731 12
159,252
124,693
144,499
174,743 8
177,625
207,673
253,910
324,277 11
289,424
252,473
317,507
344,995 11
285,514
335,843
387,019
431,307 12
94,073
103,243
114,438 5
111,211
143,341
111,654
129,714
157,237 14
53,192
42,208
48,771
58,699 12
479,155
426,016
373,095
548,161 21
828,309 1,052,859 1,336,854 1,667,064 23
197,003
150,419
174,571
215,855 16
317,465
237,891
283,058
362,717 14
953,276 1,144,531 1,358,330 1,576,616 17
98,130
71,833
62,127
134,349 36
390,054
291,999
344,368
412,621 7
179,336
162,483
141,353
199,061 7
198,965
222,912
172,161
250,268 9
186,873
225,327
162,900
249,773 16
152,156
119,191
161,573 9
136,971
18,487
19,385
16,380
21,340
206,153
222,938
194,298
239,014 16
355,314
404,200
436,002 12
303,180
283,298
245,080
314,280
354,940 12
345,895
410,512
295,153
510,206 21
234,211
270,542
296,317
315,129 11
398,658
323,851
486,334
582,613 20
190,083
272,340
233,019
299,770 19
336,610
228,735
274,392
402,121 10
45,922
55,041
51,359
56,469 10
193,828
240,156
222,157
260,007 5
160,546
184,424
211,365
233,484 15
19 14 13.0
11 10 10.2
9 6.4
14
20 18 14.2
19 24 18.4
19 17 13.3
17 10 4 .8
15 11 14.7
15 13 7.8
16 10 9 .7
17 22 27.2
15 10 8 . 6
18 15 11.4
7 2 .0
10
16 10 9.6
9 10.3
15
14 12 14.4
27 27 24 .7
16 13 9 .5
19 12 11.1
20 19 16.0
15 36 36.9
18 13 5.7
15 10 10.9
15 12 12.2
15 20 10.8
15 11 6.1
5 10.0
13
8
7.2
6
17 13 7 .8
154 11 12.9
17 19 24 .2
9 6.3
15
23 22 19.7
22 17 10.0
20 23 19.4
12
7 2 .5
8
8.2
15
15 15 10.4
110,992
134,437
154,010
168,891
193,676 16
14
10 14.6
24,393
27,304
30,451
35,362
38,322 12
12
17 8 .3
158,225
169,391
187,452
190,756
11
2 7.2
565,282
655,042
801,274
976,350 1,154,924 16 22
22 18.2
204,662
7
8,331,434 9,538,827 11,261,437 13,091,005 14,995,508 144 174 16 14.5
Statistics o f Population.
477
PO P U L A T IO N OF W A L E S .— Comparative Statement, etc., as per preceding page.
Incr ease P er Ct.
1801.
COUNTIES.
1811.
1821.
T—<
1831.
1841.
co
l
o
00
00
10
19
17
15
19
6
17
18
4
8
7
9
21
16
15
17
17
19
15
19
11
15
22
7
A nglesey,................
Brecon,......................
Cardigan,.................
Carmarthen,.............
Carnarvon,...............
Denbigh,...................
Flint,..........................
Glamorgan,..............
Merioneth,...............
Montgomery,...........
Pembroke,................
Radnor,....................
33,806
31,633
42,956
67,317
41,521
60,352
39,622
71,525
27,500
47,978
56,280
19,050
37,045
37,735
50,260
77,217
49,336
61.240
46,518
85,067
30,924
51,931
60,615
20,900
45,063
43,603
57,784
90,239
57,958
76,511
53,784
101,737
34,382
59,899
74,009
22,459
48,325
47,763
64,780
100,740
66,448
83,629
60,012
126,612
35,315
66,482
81,425
24,651
50,890
53,295
68,380
106,482
81,068
89,291
66,547
173,462
39,238
69,220
88,262
25,186
T o t a l , ..............
541,546
611,788
717,438
806,182
911,321 13
1
c*
CO
1
CO
CO
7 5 .3
10 11.5
10 5 .5
12 6 .0
1 5 2 2 .0
8 6 .7
11 10.8
2 4 3 7 .0
3 11.1
9 4.1
9 7 .9
9 2 .1
17 12 13.
P O P U L A T IO N OF S C O T L A N D .— Comparative Statement, etc., as above.
C O UN TIES.
A berdeen,................
Argyll,.......................
A y r,...........................
Banff,.........................
Berwick,....................
Bate,..........................
Caithness,.................
Clackmannan,..........
Dumbarton,..............
Dumfries,..................
Edinburgh,...............
E lgin,........................
Fife,...........................
Forfar,.......................
Haddington,.............
Inverness,.................
Kincardine,..............
Kinross,....................
Kirkcudbright,..........
Lanark,....................
] iinlithgow,.............
Nairn,.......................
Orkney & Shetland,
Peebles,....................
Perth,........................
Renfrew,..................
Ross and Cromarty,.
Roxburgh,................
Selkirk,....................
Stirling,....................
Sutherland,..............
W igtown,.................
T o t a l , ..............
1801.
1811.
1821.
1831.
1841.
Decennial
Increase P er Cent.
123,082
71,859
84,306
35,807
30,621
11,791
22,609
10,858
20,710
54,597
122,954
26,705
93,743
99,127
29,986
74,292
26,349
6,725
29,211
146,699
17,844
8,259
46,824
8,735
126,366
78,056
55,343
33,682
5,070
50,825
23,117
22,918
135,075
85,585
103,954
36,668
30,779
12,033
23,419
12,010
24,189
62,960
148,607
28,108
101,272
107,264
31,164
78,336
27,439
7,245
33,684
191,752
19,451
8,251
46,153
9,935
135,093
92,596
60,853
37,230
5,889
58,174
23,629
26,891
155,387
97,316
127,299
43,561
33,385
13,797
30,238
13.263
27,317
70,878
191,514
31,162
114,556
113,430
35,127
90,157
29,118
7,762
38,903
244,387
22,685
9,006
53,124
10,046
139,050
112,175
68,828
40,892
6,637
65,376
23,840
33,240
177,657
100,973
145,055
48,604
34,048
14,151
34,529
14,729
33,211
73,770
219,345
34,231
128,839
139,606
36,145
94,797
31,431
9,072
40,590
316,819
23,291
9,354
58,239
10,578
142,894
133,443
74,820
43,663
6,833
72,621
25,518
36,258
192,283
97,140
164,522
50,076
34,427
15,695
36,197
19,116
44,295
72,825
225,623
34,994
140,310
170,380
35,781
97,615
33,052
8,763
41,099
427,113
26,848
9,923
60,007
10,520
138,151
154,755
78,058
46,062
7,989
82,179
24,666
44,068
4,425
10 15 14 8 .2
19 14 4 3 .9 *
23 22 14 13.4
2 19 12 3 .0
1 8 2 1.1
2 15 3 10.9
4 29 14 4 .8
11 10 11 2 9 .7
17 13 22 33 .3
15 13 4 1.3*
21 29 15 2 .8
5 11 10 2 . 2
2 13 12 8 .9
8 6 13 2 2 . 0
4 13 3 1.0*
5 12 5 3 .0
4 6 8 5.1
8 7 17 3 .5 *
15 15 4 1 .2
31 27 30 34 .8
9 17 3 15.2
9 4 6 .0
15 10 3 .0
14 1 5 5 .0 *
7 3 3 3 .4 *
19 21 19 15.9
10 13 9 4 .3
11 10 7 5 .4
16 13 2 16.9
14 12 11 13.1
7 3 .4 *
2
17 23 9 2 1 .5
1,599,008 1,805,688 2,093,456]2,3G5,114 2,628,957 14 16 1 3 [ l l .l
VOL. VI.----NO. V.
* Exceptions—Decrease.
49
Monthly Commercial Chronicle.
478
MONTHLY
COMMERCIAL
[B R O U G H T D O W N TO A P R IL
CHRONICLE.
15.]
I n commencing a brief summary o f the events which transpire in the commercial world,
during each month preceding our publication, it becomes necessary to glance back at
those events which have marked the downward tendency o f financial affairs during the
past year.
One year since, when a change o f the federal administration took place, the
prevailing distress was supposed to be such as to warrant the chief magistrate in calling
an extra session o f congress, to take into consideration the fiscal affairs o f the govern,
ment, as well as the best means o f alleviating those commercial embarrassments which
hung over the community at large.
This was accordingly done, and the hopes engen
dered by the anticipated action o f congress stayed in some degree that panic which had
been started by the final failure o f the United States Bank.
W hen the July dividends
fell due, however, the alarm was in some degree increased by the failure o f the state of
Indiana to meet its interest. The session wore on, and the public mind became gradually convinced that the power o f congress, to retrieve the affairs o f the country, had
been greatly overrated.
Four leading relief measures o f the new administration became
laws, viz :— the distribution o f the public land revenues; the creation o f a loan for the
use o f the government; an increase o f the tariff by imposing a duty o f twenty per cent
on most o f those articles which theretofore had been admitted free; and the passage of
a general bankrupt law. T he creation o f a national bank was defeated by the veto of
the president. It appeared, however, that the discussion incident upon the passage of
these bills had thrown such light upon their natures as materially to lessen confidence in
their beneficial effects.
T he distribution bill, from which great results had been antici
pated, would, it was found, give very little relief to the heavily indebted states ; and,
from the date o f its passage, prices o f stocks began to fall rapidly, as well from the in
creasing discredit o f the states themselves, as from the growing stringency o f the money
market.
Cotton, the great staple export, had been dull o f sale abroad, and prices con
tinually falling to an extent that brought on a panic in that market, both in Liverpool
and on this side o f the Atlantic, involving the failure o f many eminent houses; the re
turn o f large amounts o f bills under protest; and a distrust o f those offering in the mar
ket, drawn against cotton. This happening at a critical season o f the year, being just
when the supply o f bills was short and a disposition to ship specie generally springs up,
its effects were much more apparent.
T o add to this feature and heighten its effect, the
discussion o f the tariff had induced large imports o f goods to escape the new duties about
to be imposed, and to profit by the improved prices which it was supposed those de
scriptions would bear after the duties should be levied.
A n unusual amount o f imports
was thus to be paid for at a most critical time, and thereby accelerated the current of
specie setting from the United States— forcing the banks to curtail rigorously, for their
own preservation.
Just at this moment, the secretary o f the treasury came into the
market for the loan authorized at the extra session.
countered in negotiating it.
O f course great difficulty was en
After repeated offers and various changes in terms, the fol
lowing amounts were obtained :—
Rate o f Loan.
Amount.
Rate o f Interest.
Redeemable.
September, 1841,.........................
$16,000 ......................... 5 f ......................... 1844
“
1841,......................... 3,213,000 ......................... 5 £ ......................... 1844
“
1841,......................... 2,439,000 ......................... 6 ......................... 1844
T
o t a l ,.
.$5,668,000
Monthly Commercial Chronicle.
479
This amount was procured partly in N ew Y ork and partly in Boston, and the withdrawal
of it from the markets greatly increased the pressure upon the banks and the mercantile
community. This was felt so severely that the N ew Y ork institutions became apprehen
sive that they would be obliged to give way and suspend. Several o f the banks came
forward and offered to supply the bill market at low rates, in order to check the ship
ment o f specie, which fortunately began then to diminish as the new crop went forward.
The practical effect o f the extra session o f congress had been thus far to increase the
difficulties. T he distribution bill was o f no effect; the anticipation o f a high tariff caused
unusually large imports; and, at the very moment when the market was most embar
rassed, the borrowing o f the government was most severely felt. During this severe
pressure, a sudden fall in flour, caused by a reaction o f the English markets, carried
down many dealers in that article, and involved the stoppage o f many o f the western
banks o f N ew York.
Up to the first o f the current year, the market became a little more easy in N ew Y ork
and Boston, but the effects o f the pressure were felt throughout the country, and ex
changes on all quarters continued to rise ; and, the difficulties involving the many in
debted states, with the continued unfavorable accounts from abroad in regard to the
markets for American produce, tended to bear heavily upon the value o f all descriptions
o f property, particularly state stock s; and when, on the 1st o f January, six sovereign
states failed outright in the interest on their debts, the market broke heavily. On the
1st o f February, Pennsylvania was added to the list o f bankrupts. The discredit and
utter want o f confidence which attended these results had the effect o f breaking down
the weakest banks in all sections o f the Union, and o f forcing others into resumption.
The following is a table o f the leading stocks in the N ew Y ork market, at various dates,
from the passage o f the distribution bill to the middle o f April, 1842.
PRICES OF L E A D IN G S T A T E S T O C K S IN T H E N E W Y O R K M A R K E T .
Stock.
United States,.....
u
tt
New Y o r k ,..........
U
it
it
it
Ohio,.....................
K entucky,............
Arkansas,.............
Indiana,................
Illinois,..................
Michigan,.............
Rate
1841.
Redeem
o f In
able.
A ugust 30.
terest.
54
6
6
5£
5
5*
6
6
5
6*
5*
6*
6*
6*
1842.
Jan. 1.
100 a 1 0 0 4 964 a 97
971 a 97^
100 a 1 004 8 6 ' a 8 7 '
91 a 92 76 a 77
86 a 87 76 a 77
1855
79 a 80 40 a 58
1856-60 94 a 95 72 a 73
1860
84 a 85 70 a 73
1865
40 a 50
25 years. 59 a 63 30 a 45
1861
55 a 554 19 a 194
1870
55 a 551 19 a 194
1844
1844
I860
1860
Feb. 1. March 1. April 15.
96
97
80
75
75
45
69
71
55
38
22
a 97
a 99
a 81
a 75
a 77
a 50
a 70
a 714
a 60
a 40
a 23
2 1 4 a 22
70 a 80
65 a 70
96
97
79
71
68
a 97
a 99
a 80
a 73
a 72
67
67
50
35
19
18
a 68
a 68
a 55
a 45
a 20
a 19
90
95
82
77
75
31
50
68
35
a 95
a 97
a 84
a 80
a 77
a 33
a 55
a 70
a 40
a 30
15 a 17
15 a 16
40 a 45
15 a 30
* The states marked thus have failed.
This table presents a fall in the market value o f these stocks alone o f $45,000,000,
which was annihilated to this extent by want o f confidence.
The low prices o f produce, the scarcity o f money, and the loss o f credit prevented the
most heavily indebted states from raising any thing towards meeting the interest on their
debts ; and many o f them, despairing from ever being able to discharge the accumulating
load, have broached the doctrine o f repudiation on various pretences.
In all the dishon
ored states, this matter has been agitated, and has greatly assisted to increase the panic
in stocks.
A s the wants o f the states increased,, many o f them issued a sort o f scrip ta
480
Monthly Commercial Chronicle.
their creditors, designed to circulate as money. T he following are the quantities o f this
sort o f paper which is afloat, with the present market prices o f i t :—
S M A L L NOTES ISSUED B Y
SE V E R A L
Illinois,.............................................................................
Indiana, receivable for taxes,.......................................
Kentucky,.........................................................................
Pennsylvania, circulating $1,700,000 authorized,...
M aryland,........................................................................
M ichigan,.........................................................................
Ohio,..................................................................................
. ...
. ...
....
....
. ...
. ...
ST A T E S.
3,000,000
600,000
3,000,000
1,500,000
300,000
300,000
M arket Value.
...... i2 a 15 cents.
45 “
...... 60 a 65 “
45
“
60 “
....... 65 a 70
“
.
70 “
Total state money,................................
This has become so depreciated as no longer to answer the purposes for which it was
issued, and in some cases measures have been taken to retire it from circulation ; and
in others, as in Baltimore, it has been rejected in payment o f taxes. The federal gov
ernment stands in nearly the same predicament in regard to the treasury notes.
They
have become so depreciated as to form the most profitable medium in which to discharge
debts to the government; consequently, they form almost the entire receipts o f the trea
sury, cutting off the means o f the government, and causing the dishonor o f its obligations
to a great extent. T o remedy this, a bill has been introduced into congress authorizing
a new loan, which will increase the funded debt o f the government to $17,000,000.
Some o f the states have also authorized new loans, despite the unpromising state o f the
money m arket; but N ew Y ork has alone adopted the proper method to procure the
money, viz :— by the imposition o f a tax o f one mill on every dollar o f taxable property,
or one tenth o f one per c e n t; the proceeds o f which are to be appropriated to paying
the interest o f the loan and make up the deficiency in the treasury. Other states have
come forward for loans without making any such appropriations.
The following is a
list o f the new loans proposed
N ew Y ork Canal Commissioners’ ,............................................... $1,000,000
N ew loan o f the federal government,........................................... 11,500,000
Ohio, to meet existing claim s,....................................................... 1,800,000
Pennsylvania, to pay domestic creditors,..................................... 1,500,000
Virginia, to pay interest, & c ..........................................................
300,000
^Maryland, for sundry purposes,...................................................... 1,000,000
T otal,
new loans proposed,............................................$17,100,000
These loans must have the effect o f making money scarce, more especially while the
depreciation in those already existing is so great.
This immense fall in values must, o f course, have had a great influence upon property
o f all kinds that was in any way dependent upon credit. Since the 1st o f January, its
effects have been very sensibly felt in the destruction o f that credit or confidence among
the public which was necessary to the existence o f the suspended banks.
It became,
therefore, unavoidable for those banks which were able to prepare to resume, and for the
others to stop. T he legislatures o f the following states passed laws compelling resump
tion :—
Virginia,...................................1st November
Pennsylvania,...............................................1stMarch
Maryland,...........................................1st May Louisiana,...............................1st September
Kentucky,...................................... 15th June
Ohio,............................................................ 4thMarch
Indiana,......................... to resume gradually D. o f Columbia,....after Balt, and Richm’ d
Georgia,.................................... paying specie
South Carolina,....................................payingspecie
T he passage o f these laws,
added to the state o f public opinion and the fall o f property, produced the following bank
In Tennessee and Alabama, no movement has been made,
stoppages during the three months from January to April :—
Monthly Commercial Chronicle.
481
1842.
Banks.
Capital.
Bank o f Philadelphia,....................2,100,000
Bank o f Penntownship,................ 460,440
Mechanics’ Bank,.......................... 1,400,000
Moyamensing,................................ 250,000
Manufacturers’ and Mechanics’ ,.. 401,300
Towanda Bank,............................. 100,000
Central Railroad, Georgia,...........2,016,359
Merchants’ Bank,...New Orleans,1,000,000
Improvement Bank,
1,526,169
Exchange Bank,
968,763
Atchafalaya Bank,
788,990
Orleans Bank,
424,700
...... 1,976,169
Other Ohio banks,..
B A N K S W H IC H STOPPED P A Y M E N T FR O M JA N U A R Y TO A P R I L ,
Banks.
Capital,
Clinton County,....... Safety Fund, 200,000
W ayne County,
“ ... 100,000
Commer. Bank o f Oswego, “ ... 250,000
Lafayette Bank, N ew York,** ... 500,000
Watervliet,
**
“ ... 250,000
Farmer’s Bank, Olean,..........free, 100,000
Clinton, Bank, N ew Y ork,
“
100,000
Far. & Mech. Bk., Rochester,“
100,000
Lebanon, Miami, Ohio,................ 200,000
Farmer’s Bank, Canton, Ohio,.... 201,000
State Bank, Illinois,.......................2,100,000
Planters’ Bank, Georgia,.............. 535,500
Girard Bank, Philadelphia,...........5,000,000
T o t a l , capital failed,.............................
.$31,449,070
A s was to be expected, the stoppage o f these banks, the withdrawal o f their paper
from circulation, and the resumption o f others producing the same result, causing specie
to set from N ew Y ork inland, brought about an increased derangement o f the exchanges,
sinking prices to par on some points, and greatly increasing rates on others. The fol
lowing is a table o f rates in February and November, 1839 and 1840, and those for the
corresponding months in 1841, also those for each month (to April) in 1842;—
R A T E S OF D O M E STIC BILLS A T N E W Y O R K .
1839.
Places.
1840.
Feb. Nov.
Philadelphia,.........................................
Baltimore,..............................................
Richmond,.............................................
North Carolina,....................................
Savannah,..............................................
Charleston,............................................
M obile,..................................................
N ew Orleans,........................................
Cincinnati,.^..........................................
rates
of
d o m e s t ic
b il l s
, e t c .—
}
4
4
1
2
2
1
2
par
2
4
3
Feb.
14
14
13
5
10
8
15
10
6 a 6£
5^ a 6
6 a 7^
7 a 8
6 a 7
34 a 4
6 a 7
2 a 4
10 a 12
16
10 a l l
a 11
1841.
Nov.
Jan.
N ov.
4a
f
34 a 3 f
2 4 a 2|
4| a 5
a 4
24 a 3
H a 1|
74 a 74
24 a 3
7 a 7£
10 a l l "
9 a 10
6 a 6£ 54 a 53 9 a 94
e^a 9
94 a 10
24 a
14a
24 a
3 a
4 a
1 a
5 a
24 a
3
2
3
34
5
4a
f
14 a 1 4
2 4 a 24
24 a 3
4 a 44
14 14a 14
54 5 a 6
3 2 a 24
5 a 6
8 a 8 j 8 a 84
Continued, fo r the first four months o f 1842.
Places.
January.
February.
March.
April.
Boston,....................................
Philadelphia,...........................
Baltimore,...............................
Richm ond,..............................
North Carolina,......................
Savannah,...............................
Charleston,.............................
M obile,...................................
New Orleans,.........................
Louisville,......... : ....................
Nashville,...............................
St. Louis,................................
Cincinnati,..............................
Indiana,...................................
Illinois,....................................
4a 4
54 a 6
4 a 44
64 a 64
5£ a 5 f
24 a 3
14 a 14
17 a 174
94 a 94
11 a 1 1 4
15 a 16
17 a
14 a
15 a 16
16 a 17
4a
4
7 a 8|
2 a 3
9 a 124
5£ a 5£
24 a 3
14 a 14
124 a 13
6£ a 7
94 a 10
14 a 144
13 a 14
15 a 16
16 a 17
17 a 18
4a |
a 4
4»
#
8 4 a 8|
44 a 5
2 a 21
14a 1®
28 a 30
6 a 6£
74 a 8
17 a 18
18 a 20
11 a 12
12 a 13
28 a 31
4 a §
par a
4
“ a 4
8 |a 84
5£ a 5 f
24 a 2 4
14a 2
23 a 24
64 a 7
a 5
20 a 22
23 a 25
6 a 7
a 12
a 31
49
Monthly Commercial Chronicle.
482
These enormous fluctuations in bills and extravagant rates destroyed all means o f re
mittance to the cities, and caused a great number o f failures among mercantile houses,
extending along the line o f the Atlantic, from Boston to N ew Orleans. Those failures
occurred chiefly among those most dependent upon bank facilities, which, under the
general pressure, could not be granted.
These continually accumulating disasters down to the 1st o f April, had thrown a degree
o f gloom over the commercial circles seldom witnessed. T he heavy spring payments
have been falling due ; remittances from the country could not be obtained ; the banks
were fearful o f extending themselves in the smallest degree ; goods could scarcely be sold
for money at any prices; the accounts from abroad gave but little indication o f a speedy
revival o f a demand for American produce; and the sluggish and uncertain action of
congress tended to enhance the dread o f the future. In the face o f this unfavorable state
o f things, however, the heavy payments o f the grocers had been got along with better
than could have been expected. Those o f the drygoods trade are yet to be encountered.
In this crisis o f affairs, it would seem that the intensity o f the depression contains the
germ o f a revival in business. T he goods which have been imported cannot be sold,
and will to some extent be re-exported, which will create balances in favor o f this
country at the same time that the extremely low prices o f produce are attracting capital
from abroad. This state o f affairs is indicated in the state o f the foreign exchanges,
which are now at lower points than they have touched since 1840. The following is a
table o f the rates for each month during the past year :—
RATES
OF FOREIGN EXCHAN GE
1841.
April,.............
M av,..............
June,.............
July,..............
A ugust,.........
September,...
O ctober,.......
N ovem ber,...
D ecem ber,...
1842.
January,.......
February,.....
M arch ,..........
A pril,.............
London.
6-| a
a
a
8| a
8} a
94 a
9} a
10 a
8} a
8
8
75
54
a
a
a
a
8
n
Si
83
9
9|
104
1 04
94
84
84
84
74
IN N E W
YORK
France.
FOR
EACH M O N TH
OF TH E
PA S T Y E A R .
Amsterdam.
Hamburg.
Bremen.
a 764
764 a 77
77 a 774
774 a 774
7 7 } a 774
784 a 784
784 a 79
784 a 78 }
.774 a 774
f.5 2 ?4
5 273
5 23
5 274
5 25
5 18|
5 174
5 20
5 25
a 5 284
a 5 28
a 5 25
a 5 28
a 5 274
a 5 20
a 5 184
a 5 21
a 5 264
a 39}
394 a 3 9 }
394 a 40
394 a 3 9 }
391 a 40
404 a 404
401 a 404
401 a 40£
3 9 } a 39|
a 354
35£ a 35£
3 5 } a 36
3 5 } a 36J
35* a 35|
364 a 36§
3 6 fa 36 }
364 a 36*
35| a 36
f.5 2 8 }
5 274
5 274
5 37*
a 5 30
a 5 28}
a 5 284
a 5 40
39£
39}
39}
39
354 a 35*
35§ a 35 f
35|a 3 5 }
35 a 354
a 39 4
a 40
a 40
a 394
76}
764
764
754
a 77
a 77
a 77
a 76
These rates for 60 day bills give an actual exchange o f 1£ a 2£ per cent below par, and
Induce the import o f specie, o f which several amounts are now on their way here. This
will spread through the interior, and render trade more active and the currency steady, as
the return to specie payments becomes more permanent. The actual wealth o f the
country, consisting o f the crops, was never so great or more promising than now. As
these mature and come forward, settling the balances due between different sections,
the banks, secure on a broad basis o f specie, will be at full liberty to meet the just de
mands o f merchants to the most liberal extent.
A slow, gradual, but firm advance in
mercantile prosperity is probably now not far distant.
Nautical Intelligence.
NAUTICAL
483
INTELLIGENCE.
D R O G H E D A H A R B O R .— E A S T C O A S T OF IR E L A N D .
Ballast Office, Dublin, 9th Dec. 1841.— The Corporation for preserving and improv
ing the Port o f Dublin, hereby give notice, that three lighthouses have been erected at
the entrance o f Drogheda harbor, from which lights will be shown on the evening of
the 1st o f March, 1842, and thenceforth will continue to be lighted every night from
sunset to sunrise.
Specification given o f the position and appearance o f the buildings, by Mr. Hal pin,
inspector o f lighthouses :—
Three lighthouses erected on timber framings, colored brown, have been placed on
the sand hills at the entrance o f the river Boyne, or Drogheda harbor. T he east and
west lights, kept in line, will lead in the deepest water over bar. The north light will
lead vessels, when within the bar, to the long deep which extends from abreast o f the
Maiden Tow er towards the South Crook Point.
1. The Drogheda east light is a fixed white light, open to seaward from E. £ N. to
S.E. b. E. £ E., it is elevated thirty feet above the level o f the high water o f spring tides,
and bears from the Hclly Hunter R ock, o ff the entrance o f Carlingford Lough, S .W ^
W ., distant nineteen sea miles, and Rock-a-bill N .N .W ., distant eleven and a half sea
miles.
2. The Drogheda west light is a fixed white light, open to seaward from E. ^ N. to
S.E. b. E. £ E., it is elevated forty feet above the level o f the high water o f spring tides,
and bears from the east lighthouse W . b. N ., distance 300 feet.
The relative bearings o f the east and west lights will, whenever necessary, be changed,
as alterations may take place, either from the shifting o f the sand banks, or from the
operations in progress for the improvement o f the harbor.
3. T he Drogheda north light is a fixed light o f red color, open to channel from within
the bar, it is elevated twenty-eight feet over the level o f the high water o f spring tides,
and bears from the bar perch northwest, distant 1,583 yards, and east lighthouse N . by
W . 4 W ., distant 780 yards, and Maiden Tow er N .N .W ., distant 280 yards.
Vessels having passed to within the bar in the line o f the east and west lights, should,
on opening the north light, alter their course.
— Signed by order, H. V ereker , Secretary.
The bearings stated are magnetic.
A D R IA T IC .— D A L M A T IA N IS L A N D S .
A rock, with seven feet on it at low water, has been discovered in the channel be
tween the island Zuri and the small islet Skroada, 100 fathoms S.S.W . from Skorcadozza.
T o avoid it, vessels should pass about 50 fathoms from Zuri.
[The foregoing is from the Annales Maritimes for August, 1841, page 296, and can
only apply to small merchant vessels.— Editor Nautical M ag.]
D O VER H A R B O R L IG H T .
Additional Red light on the North Pier-head, at the entrance o f Dover Harbor.— Notice
is hereby given, that on and after the 1st day o f March, 1842, a red light, twelve feet
above the level o f average spring tides, will be exhibited on the North Pier-head, at the
entrance o f Dover harbor, in addition to those on the South P ier; and that all the lights
will be lighted at ten feet water, and extinguished when the water falls to ten feet. By
order o f the Honorable Warden and Assistants o f Dover Harbor.—Dated Dover, 15th
Jan., 1 8 4 2 ; and signed J o h n I r o n , Harbor Master.
484
Nautical Intelligence.
P O R T E R & CO.’ S P A T E N T A N C H O R S.
Am ong the many recent improvements in the material o f the navy, we know o f nothing
that can be compared, for practical utility and importance, with the new patent anchor
o f Messrs. Porter & Co., Dunstan, England. A model o f this simple but effective in
vention has been shown us, and the advantages which it presents over every other
anchor, make it impossible to question its superiority in every requisite o f simplicity of
construction, strength and security, which can belong to such an instrument. These
advantages are: it cannot be fou led by hemp or chain-cable; it cants and takes hold
more quickly than a common anchor; it holds on to the shortest stay-peak; it presents
no upper fluke to injure the vessel herself or others in shoal water; it cannot injure a
vessel’s bows when hanging a cock-bill; and it is a most convenient anchor for stowage,
as the flukes can be easily separated and stowed into the hold. These are some o f its
advantages; but we must not forget to mention that by the command o f the lords com
missioners o f the admiralty, various experiments were made to test the strength o f the
anchor, and the result proved it to be treble the strength o f common anchors, and of
vast superiority under any circumstances.
Indeed, so satisfied are the admiralty o f the value o f the improvement, that they have
ordered anchors for many o f the ships o f the royal service, and from three to four hun
dred are already in use in the English merchant vessels.
Our object in this brief notice, is to call the attention o f our navy board, and all con
nected with the shipping interests, to an invention which promises to be o f such essen
tial service, as it behooves us, in these critical times, to take advantage o f all improve
ments tending to give efficiency to our naval service.
W e understand Messrs. Obear &. Hoyt, N o. 42 Pine-street, have secured the patentright for this country, at whose office specimens o f the anchor can be seen, and we
recommend all interested, to call and examine for themselves
LISBO N.
Captaincy o f the P ort o f Lisbon, Nov. 26 th, 1841.— By the Captaincy o f the Port of
Lisbon, it is made public that, the two boats stationed at the bar to furnish pilots to ves
sels seeking this port, (Lisbon,) will henceforth bear a blue flag, hoisted at the extremity
o f the yard, instead o f the pendant hitherto used by them, as the latter may be confound
ed with the pendants used by them as owners’ signals.— Signed P edko N o l a sc o
C unha, Inspector o f the Arsenal and Captain o f the Port.
da
C A L A IS H A R B O R .
Hydrographic Office, Admiralty, Jan. 1st, 1842.— The French government has given
notice, that on the western jetty head o f Calais Harbor, which has been recently ex
tended 269 yards, a small fixed light is now exhibited, and is visible at three miles dis
tance ; but in bad weather it may be impossible to approach the extreme end o f the jetty,
and in that case it will not be lighted.
Until the first o f M ay, 1842, this light will be shown and extinguished at the same
time as the tide light on Forte Rouge, but after that date, the new light will continue all
night.
L IG H T A T D E M E R A R A .
Pilot’s Office, Demerara, P ec. Hith, 1841.— The lighthouse o f this port, which has
hitherto been white, is now painted in white and red stripes alternately, vertically, in
conformity with a recommendation o f the Lords o f the Admiralty, o f which this notice is
given for general information.— By command, W . E . P ie r c e , Secretary to the Committee
o f Pilotage.
The Book Trade.
THE
BOOK
485
TRADE.
1. — The Climate o f the United States, and its Endemic Influences; based chiefly on the rec
ords o f the Medical Department and Adjutant General’s Oflice, United States Army. By
S a m u e l F o r r y , M. D. New York : J. & H. G. Langley.
“ The design o f this work,” says the author in his preface, “ is to exhibit a connected
view o f the leading phenomena o f our climate, both physical and medical, comprising a
condensation o f all the author’s observations on the subject. It is based chiefly on the
4Army Meteorological Register,’ and the 3
4 Statistical Report on the Sickness and Mor
tality o f the Army o f the United States,’ embracing a period o f twenty years, (from 1819 to
1839,) both o f which are the result o f the author’s labors.” As this production has already
taken a place among the standard works o f the day, it is scarcely necessary for us to say
that Dr. Forry, in the successful accomplishment o f his most laborious enterprise, has made
a vast accession to the scientific literature o f the country. W e are here presented with the
diversified phenomena o f our climate throughout the entire range o f its geographical limits,
and also the relations existing between the climatic laws developed and the prevalent dis
eases o f each region o f the country. W e are told by the physician that this is just such a
volume as every member o f the profession has always felt the want of, whenever his opin
ion has been invoked in regard to the propriety o f change o f place for a common invalid.
But the valuable knowledge which it contains even upon these subjects, is not confined to
medical m en ; for as the work is written in a popular style, it is equally adapted to the
general reader. There is, however, another point o f view in which we think it especially
applicable to the readers o f this journal. W e refer to the beautiful development of the in
fluence o f the unequal distribution o f heat upon vegetable geography throughout the United
States, thus demonstrating why it is that the fig, orange, cotton plant, and sugar cane, can
not be successfully cultivated in the Atlantic region o f the United States as far north as in
Europe; whilst these plants, on the other hand, flourish on our Pacific coast, in the region
o f Oregon, on parallels corresponding to Europe. The relations o f commerce and agricul
ture to these points are too obvious to require any further comment. Upon the whole, we
take pleasure in saying that this is a volume that most richly deserves a place in every
library, be it purely scientific or miscellaneous.
2. — Punishment by Death ; its Authority and Expediency.
New Y ork : M. W . Dodd. 1842.
By R ev. G eorge B. C h e e v e r .
W e agree with the author in the introduction, that the subject o f this book lies at the
very foundation o f human society, and is connected with some o f the most important prin
ciples o f morals and religion. W e hold, with him, to the inspired record, and maintain
its authority as supreme above all earthly legislation. But we cannot admit the force of
the argument, however plausible, he adduces from scripture or expediency in favor o f that
relic of barbarism—punishment by death for capital offences. The arguments embraced in
Mr. O’Sullivan’s report appear to us perfectly conclusive and altogether unanswerable ; and
we regret to find a minister o f Him who came not to destroy but to save life, vindicating a
principle clearly opposed to the progressive movement o f the Christian sentiment and the
dictates o f humanity. Mr. Cheever certainly holds the pen o f a ready and able writer, and
we commend his volume to all who take any interest in the subject, and particularly to
those who have read and assented to the clear and elaborate arguments o f Mr. O’Sullivan,
as we are confident they will be fully persuaded o f the soundness o f that gentleman’s con
clusions.
3.—History o f the Great Refoi'mation o f the Sixteenth Century, in Germany, Switzerland,
etc. By J. H. M e r l e D ’A ubig ne . Vol. 3. 12mo. pp. 504. New Y ork: Robert Carter.
In a former number o f this magazine we noticed the two first volumes of this spirited
history o f the Reformation in terms o f the highest commendation, and we see no reason
to retract or qualify our opinion o f the merits o f the work. The writer, although a French
man, resided long in Germany, and seems to have imbibed all that depth and ardor of re
ligious feeling that so eminently exhibits itself in the theological writings of the German
divines.
486
The Book Trade.
4. — Sketches o f Foreign Travel, and Life at Sea ; including a Cruise on board a man-ofwar, as also a Visit to Spain, Portugal, the South o f France, Italy, Sicily, Malta, the
Ionian islands, Continental Greece, Liberia, and Brazil; and a Treatise on the Navy of
the United States. By the Rev. C h a r l e s R o c k w e l l . 2 vols. Boston : Tappan & DenneL
The author o f these volumes was for some time attached to the navy o f the United States
in the capacity o f chaplain. His book is interesting, as might be judged from the titlepage,
from the nature o f the materials rather than from his manner o f treating them. It has no
pretensions to either graphic style, interesting incident, or original observation, but it con
tains a good deal o f useful information which will well repay perusal. The bulk o f the
work is made up o f descriptive notices o f the places mentioned in his title, with reflections
upon their peculiar institutions, some o f which strike us as being crude and incorrect;
such, for instance, as the common idea which is repeatedly insinuated that the Catholic
religion is the sole foundation o f the mental and moral debasement o f the countries he de
scribes. W e wish that travellers, instead o f indiscriminate denunciation o f the Catholic
religion, would inquire how many o f its faults—its superstitions—and its inefficiency as a
moral renovator is owing to long-standing political causes, over which it had no control;
and the influence o f which would, to a greater or less extent, have been shared by any
form o f religion with the character o f the people upon whom they operated. A church
system is but one o f the social forces: its comparative strength in Catholic countries, its
action and reaction upon political institutions, customs, physical temperament, and all that
goes to make up or to modify national character, has yet to be investigated; and we sus
pect, by some other than the author o f the present volumes. The work is beautifully
printed on fine paper, and neatly bound.
5.
— Lectures on Agriculture, Chemistry, and Geology. By J a m e s F. W . J ohnston , M. A.
F. R . S. S. etc. New York : W iley & Putnam. 1842.
These lectures were originally addressed to the Durham (Eng.) County Agricultural
Society, and the members of the Durham Farmers’ Club. Designed as they were for practi
cal men, many o f whom possessed no knowledge o f scientific chemistry or geology, the
author very judiciously commences with the discussion o f those elementary principles
which are necessary to a true understanding o f each branch of the subject. He has, there
fore, employed no scientific terms in the progress o f the work, and referred to no philoso_
phical principles not previously explained. The volume is divided into four parts, the
study o f each preceding part prefacing the way for a complete understanding o f those
which follow. Thus, the first part is devoted to the organic elements, and parts o f plants,
the nature and sources o f these elements, and an explanation o f the mode in which they
become converted into the substance o f plants. The second, to the inorganic elements of
plants, comprehending the study o f the soils from which those elements are derived—with
the general relation o f geology to agriculture. The third, to the nature o f manures, by
which soils are made more productive. And the fourth, to the results o f vegetation—to the
kind and value o f the food produced under different circumstances, and its relation to the
growth o f cattle, and to the amount and quality o f dairy produce.
6. —Fourth Report o f the Agriculture o f Massachusetts. Counties o f Franklin and Middle
sex. By H e n r y C o l m a n , Commissioner for the Agricultural Survey o f the State. 8vo.
pp. 528. Boston: Dutton and Wentworth. 1841.
The state o f Massachusetts having ordered an agricultural survey o f its territory, for the
purpose o f more fully laying open its resources, in that respect appointed Mr. Colman to
make an examination for that o bject; and we have here his fourth and last very able re
port, embracing the counties o f Franklin and Middlesex. The volume embodies a mass of
minute information upon that portion o f the state which it embraces, carefully and labori
ously compiled. The facts relating to the husbandry o f those counties in its various de
partments obtained by personal examination, and by correspondence, as well as by inter
course with practical farmers, are brought together, which will doubtless tend to the future
improvement o f this important branch o f industry. It is understood that Massachusetts
now ranks first o f the New England states, in the perfection to which it has carried its
agricultural enterprise, and we only regret that the legislature of that state, doubtless for
good and sufficient reasons, repealed the act ordering the survey before its completion. A
full report o f the agricultural resources o f this noble state would doubtless be o f great value,
and lay a foundation for further improvement.
The Book Trade.
487
7. —Familiar Letters to Henry Clay, o f Kentucky ; describing a Winter in the West Indies.
By J oseph J ohn G u r n e y . New York : Mahion Day & Co.
This is the title o f a small volume o f letters addressed to Henry Clay, and treating of the
effects o f emancipation in the W est Indies. Mr. Gurney, the author, is a respected and
influential member o f the Society o f Friends in England, who, after spending some time
in the United States, paid a visit to some o f the British W est India islands, in the discharge
of his ministerial duties, where he collected the information which gave occasion for this
volume. Mr. Gurney is, as may be supposed from his religious connection, a warm advo
cate for freedom, but his book is written with fairness and candor, and with a liberality
which cannot be too highly commended. The style is simple and unpretending—the piety,
unostentatious and sincere—the facts, though not copious, are many times strong and con
vincing, and not neutralized by any specious reasoning—and, in short, the spirit of the
book is every thing that could be desired. The author was, perhaps, too little of a philoso
pher to give to the world a work which would be entirely satisfactory on a subject involved
in so many difficulties, but his book is nevertheless an agreeable and instructive volume,
which will be read with satisfaction both by the friends and enemies of the emancipation
policy, and we take pleasure in commending it to the attention o f the public. The follow
ing extract will serve to show that in some o f the islands, at least, emancipation has not
been so prejudicial to the interest o f the planter as has been represented. Mr. Gurney says
of Antigua:—
“ W e were now placed in the possession o f clear documentary evidence, respecting the
staple produce o f the island. The average exports o f the last five years o f slavery, (1829
to 1833 inclusive) were, sugar, 12,189 hogsheads; molasses, 3,308 puncheons. Those of
the first five years o f freedom (1834 to 1838 inclusive) were, sugar, 13,545 hogsheads; m o
lasses, 8,308 puncheons; and rum, 1,109 puncheons: showing an excess o f.1,356 hogsheads
of sugar, and o f 5000 puncheons o f molasses; and a diminution o f 1,359 puncheons of rum.
This comparison is surely a triumphant one ; not only does it demonstrate the advantage
derived from free labor during a course o f five years, but affords a proof that many of the
planters o f Antigua have ceased to convert their molasses into rum. It ought to be ob
served that these five years o f freedom included two o f drought—one very calamitous.
The statement for 1839 forms an admirable climax to this account. It is as follows: sugar,
22,363 hogsheads, (10,000 beyond the last average o f slavery,) 13,433 puncheons of molasses,
(also 10,000 beyond that average,) and only 582 puncheons o f rum ! That, in the sixth
year of freedom, after the fair trial o f five years, the exports o f sugar from Antigua, almost
doubled the average o f the last five years o f slavery, is a fact which precludes the necessity
of all other evidence.”
This is indeed a triumphant vindication o f the emancipation policy. So far as Antigua
is concerned, it puts the question to rest; and in some o f the other islands the result is
equally favorable.
8. —Jonas on a Faim in Summer. By the author o f “ The Rollo Books.” 18mo. pp. 178.
Boston : William D. Ticknor. 1842.
This little work, with its companion, “ Jonas on a Farm in Winter,” is intended as a
continuation o f a series, the first two volumes o f which, “ Jonas’ Stories,” and “ Jonas a
Judge,” were published some time since. They are all admirably calculated, not merely
to interest and amuse the juvenile reader, but to give him instruction, by exemplifying the
principles o f honest integrity and plain practical good sense, in their application to the or
dinary circumstances o f childhood.
9. —Manual o f Sacred Interpretation ; for the Special Benefit o f Junior Theological Stu
dents. By A l e x a n d e r M cC l e l l a n d , Professor o f Biblical Literature, etc. 18mo. pp.
168. New Y ork: Robert Carter. 1842.
The design o f the author o f this little volume was to give “ a faithful statement o f the
general laws and principles o f sacred interpretation, in a form so popular and devoid of
technicality, that the student fresh from a literary institution can comprehend the whole at
two or three sittings, and make an immediate use o f them in reading the scriptures.” The
treatise certainly contains some excellent maxims in the study o f the Bible, but we are not
prepared, with the author, to denounce as fanatics and enthusiasts Quakers and Swedenborgians, and all who hold to the “ interior light.”
488
The Book Trade.
10.— The Daughter's o f England ; their Position in Society, Character, and Responsibili
ties. By Mrs. E l l is , author o f “ The W om en o f England,” etc. 12mo. pp. 280. New
Y ork: V. Appleton & Co. 1S42.
That large class o f persons who read and admired Mrs. Ellis’ excellent work relating to
the “ women o f England,” will be no less edified and delighted with the volume devoted
to the daughters o f Britain. As in the former work the remarks upon the social and do
mestic duties o f women were expressly limited to the middle ranks of society, so in the
present the writer addresses herself especially to the same interesting and influential class
o f her countrywomen. The views o f the author will commend themselves to every welldisposed and educated daughter o f America, and we trust the judicious sentiments it so
forcibly inculcates, and the pure and elevated spirit it breathes throughout may be diffused
very generally among our fair countrywomen. The present volume is to be followed by
“ The Wives and the Mothers o f England,” thus presenting a distinct classification of the
different eras in woman’s personal experience. The American publishers have displayed
their accustomed taste and liberality in imparting to its pages and external form all the ad
vantages o f an elegant and improved typography.
11-—A Treatise on the Right o f Suffrage. W ith an Appendix. By S amuel J ones. 12mo.
pp. 274. Boston : Otis, Broaders & Company. 1842.
This volume, as its title imports, is designed to exhibit the principles which the author
deems should regulate the right o f suffrage in our own country. W ith that view he com
pares the structure o f our own government with that o f nations abroad, and shows the dis
tinction which exists between them. A considerable portion o f the work is devoted to a
consideration o f the subject o f civil liberty as connected with natural and adventitious rights,
and it is, throughout, marked by a patriotic spirit. He traces with clearness the particular
features o f our institutions, and intersperses the book with many original reflections con
nected with our rights and duties. A part o f the work is also historical, and he appears to
have reflected much and profoundly upon his subject. If all his positions are not conclu
sive, they still furnish important matter for thought. Its scope appears to be directed to a
thorough understanding o f the nature o f our political fabric, and to the exhibition of those
facts and doctrines calculated to inform the public mind respecting the most important
franchise o f the American citizen.
12. — The Zinculi ; or, An Account o f the Gypsies o f Spain ; with an original collection of
their songs and poetry. By G eorge B a r r o w . T w o volumes in one. New Y o rk : W i
ley & Putnam.
This is quite an interesting work, although we are compelled to say that it is not so
much so as the nature o f the subject would have justified us in expecting. The author,
however, offers an apology for its imperfections in the fact that it was written under cir
cumstances such as are not in general deemed at all favorable for literary composition—at
considerable intervals during a period o f nearly five years passed in Spain—in moments
snatched from more important pursuits—chiefly in ventas and poradas while wandering
through the country in the arduous and unthankful task o f distributing the Gospel among
its children. But this does not diminish our regret that all the questions relating to this
most mysterious and interesting people had not been more elaborately treated, and that an
attempt had not been made to remove some o f the obscurity which hangs over their early
history. W e hope this book may be a forerunner o f such an investigation.
13. — Theopneusty ; or, The Plenary Inspiration o f the Holy Scriptures. B yS . R . L. G aus sen , Professor o f Theology at Geneva.
Translated by E. N. K i r k . 12mo. pp. 343.
New Y o rk : John S. Taylor & Co. 1842.
The writer o f this treatise maintains that the scriptures o f the Old and the New Testa
ment were divinely and miraculously inspired ; that God has provided, in a definite though
mysterious manner, that the very words o f the Bible should always be what they ought to
be, and should be free from error. The doctrine o f the plenary inspiration o f the scriptures
is affirmed with great earnestness, and with the depth o f feeling and sincerity o f conviction
so characteristic o f German theologians. The work possesses a degree of vivacity, sim
plicity and richness, which appears to be well represented in the English translation.
@FedFRASER