Full text of The Merchants' Magazine and Commercial Review : November 1844, Vol. XI, No. V

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THE

MERCHANTS’ MAGAZINE,
!E §ta.M is5iccl J’l a l y , 1 8 3 0 ,

BY FREEMAN RUNT, EDITOR AND PROPRIETOR.
VOLUME XI.

NOVEMBER,

CONTENTS

1844.

N U M BER V.

OF NO. Y, YOL. NI.
A RT I C L E S .

ART.

PA G E .

I. Duties on Portuguese Wines. By C harles E dwards, Esq., Counsellor at Law, 395
II. Commerce and Resources o f Louisiana...... .......................................................... 411
III. Banking in the United States. By J ames H. L anman,....................................... 424
IV. Mercantile Biography— Henry Laurens,............................................................... 439
V. The Fair o f the American Institute...................................................................... 444
VI. The Question fo r Accountants, and a Question fo r Accountants. By W illiam
B. H eriot, of South Carolina,................................................................................. 449
VII. A rt and Science Applied to Commerce, No. 3. Ship-Building— Pine Wood—
Improvement in the Manufacture o f Iron.............................................................. 450

MONTHLY COMMERCIAL CHRONICLE,
EMBRACING A FINANCIAL AND COMMERCIAL REVIEW OF THE UNITED STATES, ETC., ILLUSTRATED
WITH TABLES, AS FOLLOWS :

Imports (quarterly) into New York, for the year ending 30th Sept., 1843 and 1844,.
Customs Duties paid at New York, (quarterly,) 1843 and 1844,...................................
Exports (quarterly) of the Port of New York, in 1843 and 1844,................................
Drawback on Foreign Goods exported from New Yoik, in 1843 and 1844,..............
Imports (quarterly) into New York, from 1832 to 1844,................................................
Boston Bank Dividends in 1842,1843, and 1844,...........................................................
Prices of Stocks in the New York Market, at different periods,..................................
Pro-Forma Account of Shipment of Mexican Dollars from New York to London,.
Table showing the Rate of Exchange produced by Shipment of Spanish, Mexican,
United States, or other Dollars, froi# New York to London,.....................................
Pro-Forma Account of Shipment of Mexican Dollars from New York to Paris,.......
Table showing the Rate of Exchange on Paris, produced by a Shipment of Spanish,
Mexican, or other dollars, from New York to Paris,...................................................

451
451
451
451
452
452
453
454
454
454
455

M E R C A N T I L E LAW D E P A R T M E N T .
Decisions in the Supreme Court of Louisiana,.................................................................
Suit to Recover Balance on ah Account Current,............................................................
Collision—Steamer Ohio Belle and Schooner Creole,...................... :.............................
Bills of Exchange—Northern Bank of Kentucky us. Leverich,........ .................... .
VOL. XI.— NO. V.
32




457
457
459
460

Table o f Contents.

394

PA.Q4E.

COMMERCIAL REGULATIONS.
Tariff of Charges established by the Chamber of Commerce of St. Louis, to govern
Merchants, Sept. 3, 1844,...............................................................................................
Now Belgian Tariff of Customs Duties,.................................................. .........................
Regulation relative to Brazil Wood—Tonnage Duties of Brazil,..................................
Overland Route to India,.....................................................................................................
Newspaper Postage abolished at Porto Rico,.............................................. .....................
Vessels bound to Porto Rico,..............................................................................................
United States Treasurer’s Explanation on the Duty on Coffee,....................................

462
463
464
465
465
465
466

NAUTICAL INTELLIGENCE.
Island of Ichaboe—Sailing Directions for the Island of Ichaboe,.................................
Gangway Rock of Iiyannis,....................................................................................... - ......
Lights on the Toringen and Sandvigsodde,......................................................................
Lighting of the Lights on Udsire,.......................................................................................
Lighthouse on the Island of Bangoe,.................................................................................
Floating Light moored offFalsterbo—New Invention for Sailing Ships,....................
Passage of the Dardanelles,......................... .......................................................................

467
467
468
468
469
469
470

COMMERCIAL STATISTICS.
Export of Agricultural Produce from the United States, for last 16 years,.................
Exports of Domestic Produce from U. States to Great Britain, for last 16 years,......
Total Value of Agricultural Produce exported from the U. States, for last 16 years,.
Exports of Cotton, and all other Produce, for last 23 years,...........................................
Agricultural Produce and Consumption of the United States, for 1840, ’42, and ’43,
Imports and Exports of the United States in each year, from 1821 to 1843,.............

470
471
472
473
473
474

MERCANTILE MISCELLANIES.
Commerce of the Prairies, or the Santa Fe Trade,..........................................................
Poetry of Commerce—The Emigrant Ship, by J. R. Dix,.............................................
Commerce, Manufactures, and Agriculture—Traflic with Africa,................................
Breach of Trust in Merchants’ Clerks,.............................................................................
A Paragiaph of Commerce, translated from the German of Frederika Bremer,.......
First Sale of American Hay at Liverpool,.......................................................................
African Guano Trade,..........................................................................................................
Gold Coin—Counterfeit Sovereigns,..................................................................................
Bank of Jones, Loyd & Co., Manchester—Book-keeping,............................................
Wool of the Alpaca—American Provisions in England,................................................
Example of Mercantile Integrity,.......................................................................................
Lake Superior Copper Company,.......................................................................................
American Cheese in England—Imprisonment for Debt,................................................

475
476
476
477
477
477
478
479
479
480
481
482
482

T H E BOOR T R A D E .
Neal’s History of the Puritans—Anthon’s Homer’s Iliad—Fenelon on the Bible,......
Zschokke’s Social Life in Europe—Southgate’s V ^it to the Syrian Church,................
Ives’s (Bishop) Apostles’ Doctrine and Fellowship—Country Strolls..........................
Robert Hall’s Works—Blair’s Sermons—Hooker’s (Richard) W orks,..........................
Vandenhoff’s Clay Code, or Text-Book of Eloquence,...................................................
Annuals: The Opal, for 1845—The Gift, for 1845,........................................................
Ranke’s History of the Popes—Barrett’s (Elizabeth) Poems— Simms’s Life of Marion,
Davidson’s Sacred and Profane History—Luther’s (Martin) Galatians,........................
Willard’s (Emma) System of Universal History—Christian Fragments,.....................
Works of Charlotte Elizabeth—Hastings’ and Bradbury’s Psalmodist,........................
Works in Pamphlet form, received since our last,...........................................................




483
484
484
485
485
48G
486
487
487
487
488

HUNT’S

MERCHANTS’ MAGAZINE.
N O V EM B ER ,

1844.

A m .'X—D U T IE S ON PO R TU G U ESE W IN ES.

T k e late circular of the Secretary of the Treasury, instructing collec­
tors and naval officers as to w hat duty shall be taken on the importation
of the white and red wines of Portugal, has caused much discussion among
m ercantile men. T he point involved was an interesting and a very se­
rious one. Our relations with Portugal, heretofore so friendly, w ere in
danger of being severed : for we w ere, under the last tariff, claiming du­
ties on these w ines which amounted to prohibition ; while, by treaty, Por­
tugal w as rightly put on a footing with the most favored nations.
T he subject has been clung to, and treated by the Commander De Figaniere, m inister for Portugal, w ith ability and diplomatic ta c t; while
the officers of our own government have looked thoroughly into the sub­
ject, and not been unmindful of the rights of the United States.
T he w riter of this article believes that a fair exposition of the case will
conclusively show that Mr. Secretary B ibb’s views, (as expressed in his
circular,) are sound; namely, that the following rates of duty, being those
at w hich sim ilar wines of the most favored nations are now admitted to
entry, are all that can legally be ex acted :— “ On Madeira, and other
white w ines of Portugal and its possessions, w hen imported in casks, seven
and a h alf cents per g a llo n ; when imported in bottles, fifteen cents per
gallon. On port, and other red wines of the same country, w hen import­
ed in casks, six cents per g a llo n ; and when imported in bottles, fifteen
cents per gallon, (the bottles being chargeable with a separate duty,
agreeably to law .” )
It may give an additional interest to this article, w hen we say w e draw
some of our resources as w ell from congressional documents as from head­
quarters ; and yet we do not feel disposed to say how w e got possession
of one, at least, of the documents we shall use. Suffice it to add, that
even our government will not gainsay its authenticity.
L et us now go to the case. At the expiration of the revenue law known
as “ the compromise act,” a statute was approved on the 11th of Septem ­




396

Duties on Porlvgnc.se Wines.

ber, 1841, w hich imposed ad valorem duties on wine. T he Portuguese
government directed their m inister to rem onstrate against this act, on the
ground of its infringing the spirit, if not the letter, of the treaty between
Portugal and the United States, the ratification of which was exchanged
on the 24th of April of the same y e a r ; and to contend that Portuguese
wine could not be subject to a duty higher in amount, or different in form,
than was then, or might thereafter be, imposed on the wines of other n a­
tions ; and that an ad valorem duty did, necessarily, subject the w ine of
Portugal to a higher duty in amount, although not in form ; and also that,
in changing the latter from a specific to an ad valorem duty on wine, it
was a deviation (to the disadvantage of Portugal) from a long established
system, adopted ever since the first tariff, in 1789.
W hile the question was pending, came the tariff of August, 1842. It
re-imposed specific duties on w ine ; but the Portuguese government con­
sidered that it saw how treaty stipulations were again infringed ; for the
wine of Portugal, (i. e., the wine distinguished as M adeira and Port, and
all wine of Portugal in bottles,) was selected for the imposition of the
heavy specific difference of 1,000 per centum more on the M adeira, when
compared with the duties on other wines, (some of w hich w ere far more
costly than the Portuguese wine,) and of 250 per centum more on Port
th an on other foreign wines. At this point, the Portuguese m inister was
alive ; and, on his rem onstrating, a clause was inserted in the act, provi­
ding that it should not be construed, or perm itted so to operate, as to interfere with subsisting treaties.
As the act then stood, and as no legislative relief appeared at hand, the
Portuguese legation corresponded with our Executive.
W e now refer to this correspondence, as we shall gather argum ent from
it. T he Com mander D e F iganiere thus w rites to Mr. W ebster, on the
25th of August, 1842 :—
“ Her Majesty’s Government understands the third article of the treaty of the
26th August, 1840, between Portugal and the United States, as expressly, clearly,
and positively stipulating that all the wines of Portugal and of its possessions, on
their importation into the United States, can be subject but to one duty alone; and
that this duty shall not exceed the lowest which may be imposed on the wines of
any other country; and that the only distinction which the said article of the treaty
might admit, could be, perhaps, a difference between the white and red wines; but
in both cases subject to a uniform duty respectively, and no higher in either case
than that which may be imposed on other most favored white and red wines. In­
deed, this was one of the principal motives which led the Queen’s Government to
conclude the existing treaty with the United States. Aware that the American
tariffs had heretofore made distinctions in the various wines, the produce of Por­
tugal and of its possessions, the treaty was intended to do away with these diffe­
rences, which were generally prejudicial to Portuguese wines, when compared
with the duties laid upon those of other countries, which, under the treaty, could
be no longer similarly favored. And that this was the real purport of the stipula­
tion under consideration, is evident from the explanatory proviso inserted at the
end of the said third article, respecting the then existing convention of 1831 be­
tween the United States and France. This clause would have been unnecessary,
if the wines of Portugal and its possessions had been deemed unlike articles, in
reference to French wines; and if we look into that convention, lately expired, we
shall find that it stipulated the duty on French wines should not exceed, on the
red wines, without reference to names, quality, cost, or value, six cents per gallon,
on the white, ten cents, and those in bottles, twenty-two cents.
“ Could the wines of Portugal, of Madeira, and of the Azores be subject, not­
withstanding the treaty, to a higher or other duty than the wines of France, or of
Spain, &c., because they bear a different name, or have a different flavor, to what




Duties on Portuguese Wines.

397

other equivalent, in lieu thereof, the undersigned will respectfully inquire, would
Portugal be entitled to, for admitting Kentucky tobacco, Carolina rice, Richmond
fiour, and other produce of the United States, on a parity in the rate of duty with
Bahia tobacco, Para rice, similar flour, and other produce of other countries ?
“ Were Portuguese wines not to be considered, in the language of this treaty,
“ tike articles” or wines of other countries, the treaty itself, the undersigned would
venture to say, would be then of no avail to Portugal and its possessions, (mostly
wine-growing countries,) and its stipulations without meaning, or the possibility of
compliance for the due and intended protection of Portuguese wines; when, and
at the same time, the American Government, and also the Government of her Ma­
jesty, consider the same stipulations as restraining Portugal from laying liiglter or
other duties on the produce of the United States than on the like produce of other
countries, although the former be distinguished by the name of the State where
produced, or may cost more, or be of a higher value than the latter. This is the
case with the articles just mentioned, (mostly all differing in quality, color, cost,
and value,) as with w ines; and nevertheless are subject, respectively, to one and
the same duty, whether imported from the United States, Cuba, or Brazil; and so
likewise the treaty literally and intentionally includes the article wine.
“ The undersigned will submit to the consideration of Mr. Webster one more
illustration, which he thinks will tlirow additional light upon the subject. He will
advance, (and it will be conceded,) that, under the terms of the treaty, the grapes
of Lisbon, for instance, of Madeira, or of Oporto, would be uniformly taxed, when
imported into the United States; and that on neither could be levied a higher duty
than on the grapes of France or of Spain: it follows, of course, that no difference
can be made, as respects duties, in the juice of these various grapes of Portugal
and its possessions, notwithstanding it may be called Port, Lisbon, or Madeira wine;
nor can it, according to the treaty, be subjected to a higher or other duty than that
which may be laid on the juice of the French or Spanish grape, however the one be
jailed Burgundy, and the other Malaga wine.”
On the 10th of November, in the same year, the Portuguese minister
proposed to our then secretary of state, Mr. W ebster, that instructions
should be given (to the same effect, in fact, as really has been since given
by the circular of Secretary Bibb, namely,) that the proper custom-house
officers should cease to levy higher or other duties on wines of Portugal
and her possessions, w hether in casks or bottles, than were levied by the
act of the 30th of August, 1842, on the w ines, in casks or bottles, of the
most favored n atio n s; and to refund the excess of such duties as had been
wrongfully, as was insisted, paid. And his Excellency ended his letter
th u s:— “ You will undoubtedly have observed, sir, that, in this respect,
Portugal asks for no special favor for her produce. She simply claims the
fulfilment of a reciprocal engagem ent, to be treated upon an equality with
other nations which have like produce with herself, and similar existing
stipulations with the United States. In fact, Portugal but insists upon the
common axiom, that the same causes must produce the same effects; con­
sequently, that her w ine must be upon an equal footing, in the revenue
laws of the U nited States, with (for instance) the w ine of Prussia, which
is uniformly taxed in the act of the 30th of August, although that country
produces, and exports to this, wine as varied in quality, flavor, and cost, as
is imported from Portugal and its possessions.”
W e now come to an important document from the treasury department,
dated January 10,1843, being a communication from Mr. Forw ard, secretary of the treasury, to Mr. W ebster, secretary of state, from which wo
make the following extract. It will be found adverse to the views and
wishes of the Portuguese legation :—




398

Duties on Portuguese Wines.

“ It appears from the notes of the minister of Portugal, that, previously to the
passage of the tariff act of 30th August last, and while the revenue law of 11th
September, 1841, was still in force, under which duties ad valorem were levied on
all wines imported into the United States, complaint was made, on the part of Por­
tugal, of the effect of that law, as violating, if not the letter, the spirit of the treaty
between the United States and Portugal, concluded on the 26th August, 1840.
The reply of the department of state to this complaint, under date of the 9th Feb­
ruary last, in the opinion of this department, placed the subject in its true light,
and showed conclusively that the act of 11th September, 1841, did no violence to
the treaty with Portugal, either in letter or spirit.
“ On the passage of the act of 30th August last, in which specific duties are
levied on all wines imported into the. United States, it appears that renewed remon­
strances were made by the minister of Portugal against alleged infractions of treaty
stipulations, effected by the provisions of that act. These allegations, it is con­
ceived, are of no greater force than those formerly urged. In adjusting the rates
of specific duties ad valorem on wines, it is assumed and believed that Congress
acted with a special reference to the foreign values of the several kinds of this
product; and in good faith intended, and did, in effect, attain as near an approxi­
mation to equivalent rates of duty, if charged on such values, as the complicated
and uncertain nature of the subject would admit. This being conceded, it must
be obvious that the objections presented in the notes of the minister of Portugal,
of the 25th August and >0th November last, to the provisions of the act of 30'ch
August, 1842, find their satisfactory answer in the note from the department of
state, of 9th February la st; for, as “ neither of the contracting parties, in making
the treaty, could have supposed itself precluded from the ordinary modes of exer­
cising its own power of making laws for raising revenue in its own accustomed
modes,” the system of specific duties, or that of duties ad valorem, might unques­
tionably b^adopted by either government, at its own discretion, without any in­
fraction of treaty stipulations, although some inconvenience might unhappily
follow, as an incident to the commercial interest of one or the other of the con­
tracting parties. In reference to the argument of the minister of Portugal, founded
on the occurrence in the treaty of the phrase, “ like articles,” it is thought suffi­
cient by this department to express its concurrence in the opinion given in the
note from the department of state, before referred to, that the wines of different
places, or different character or designation, are, in fact, separate articles, liable,
on their several importations, to be charged with different duties by this govern­
ment, without any violation of our treaty with Portugal.
“ It may be added that, on an examination of the subject, with reference to the
actual effect of the law, and taking the quantity and value of the various wines
imported during 1841 as the basis of calculation, it does not appear that Portugal
has any just reason to complain. The following table will show that, while the
Madeira wine of Portugal, under the specific duty of 60 cents per gallon, pays a
duty equivalent to 34.41 per cent ad valorem, all the principal wines of other coun­
tries, with scarcely a single exception, pay a higher rate ad valorem—some much
higher; and several of them double the amount; and that, in the few instances in
which a lower rate is paid by “ other countries,” the amount of importations is so
small as to be hardly worthy of consideration.
W ines imported in

1841.

Duty, act
Equiv. ad
Wines.
Galls, imp. For. cost, of 1842.
Duties.
val. duty.
Madeira,.................................... 139,870 $243,827 60 cts. $83,922
00 34.41 p .c t
Sherry,...................................... 133,876
141,793 60
80,325 60 56.65 “
Sicily,......................................... 420,887
146,689 25
105,221 75 71.73 “
Red of France,......................... 1,670,037
254,244 6
100,202 22 39.41 “
Other of France,...................... 683,036
156,541 6
40,982 16 26.18 «
French, in bottles,.................... 259,761
451,110 35
90,916 35 20.15 “
Red of Spain, or...................... 302,584
59,007 12J
37,823 0 0 64.09 “
Other of Spain, or.................. 961,310
267,903 12J
120,163 75 44.85 «
Of other countries, in casks,... 392,898
241,331 ...
...........




Duties on Portuguese Wines.

399

W in es of other . C ountries , in casks.

Duty, act
Galls, imp. For. cost, of '42.
Wines.
From England,................ ..........
9,807 $9,952 15 Ct5.
Tenerifle, and other Canaries,....
81,164
36,108 20
Portugal,....................................... 255,476 169,728
G
Fayal and Azores....................... .
30,651
G
11,921
Italy,...........................................
2,006
6,032 124
Sicily,.............................................
11,370
4,325 15
Other countries,......................... .
2,424
3,265 15
Total,............................... .

392,898 §>241,331

Equiv. ad
Duties.
val. duty.
$ 1,471 05 14.78 p. ct.
16,232 80 44.95 «
15,328 56
9.
715 26
6.
“
250 75
4.15 “
1,705 50 39.43 “
363 60 11.
“
$36,067 52

“ Viewing the question, then, in every respect, it must be apparent that the
good faith of the government of the United States has been inviolably preserved
towards Portugal, as it regards the existing treaty; and, with these views,
this department can perceive no just ground to advise an interposition, on the
part of the President, under the provision of law referred to by the minister of
Portugal.
A copy of this document was sent by Mr. W ebster to the Portuguese
minister, and it brought out the long-gun of the latter, as we shall see by
the following letter addressed to Sir. W ebster, dated the 21st of January,
1843. T his “ long-gun” carries far, but we are compelled to extract
such portions, only, as bear more immediately upon the question.
“ The ground of that decision (Mr. Forward’s) is based upon a note of Mr.
Webster, of the 9th of February last, addressed to the undersigned, in reply to a
former claim, arising from an act of Congress which has expired; but which reply,
it seems, Mr- Forward has deemed pertinent to the new remonstrance, without
considering that the points of the said note of the 9th February, which might be
relevant to the matter in question, had been fully met, the undersigned thinks, by
the remarks he had made in his last two notes.
“ Mr- Forward supposes that, because Madeira wine, under the specific duty of
60 cents, does not pay, according to its cost, a higher ad valorem duty than other
principal wines of other countries, there is no just cause of complaint, on the part
of Portugal, against the provisions of the act of the 30th of August, 1842. Mr.
de Figaniere begs leave to say that this is not the question; for the object of the
treaty was to do away with every discrimination whatever, whether specific or ad
valorem. The result which one or the other might eventually have upon any
given article, is, therefore, perfectly immaterial. Still, what has been thus ad­
vanced, requires explanation.
“ The table annexed to Mr. Forward’s letter either assumes the Madeira winej
for instance, all to be of the same cost, consequently of the same quality, or to be
of different qualities and cost, as is the case. It then shows an average price of
all of them, and draws the conclusion that there is no violation of the treaty with
Portugal, because, on an average, Madeira, and other wine of Portugal, pay no
higher ad valorem duty than other foreign wines. This is perfectly arbitrary, it
is thought, and inconclusive. The stipulation of the treaty, that “ no higher or
other duty” shall be levied upon the article (wine) of Portugal and its possessions,
than upon the “ like article” (wine) of any other foreign country, cannot have its
proposed effect. Assuming even that wine be an article, in the meaning of the
treaty, to be subdivided for the imposition of duties; the subdivision, in that case,
must be carried out thoroughly as regards quality, quantity, and cost. This Mr.
Webster will grant, and Mr. Forward acknowledges to be impossible, from the
nature of the article; and yet this difficulty is to be conquered, to meet, under this
construction, the stipulation in question.
“ From the knowledge that the undersigned has of the wine trade, he does not
hesitate to advance that the cost of the Madeira wine, in the table drawn up at the
department of the treasury, and upon which the calculation of duties Is based, far
exceeds the true cost of the same wine; because it is not unusual, but, on the




400

Duties on Portuguese Wines.

contrary, very generally adopted by the exporters of wine in Madeira, to overcharge
their invoices, that, by thus innocently enhancing the value of the merchandise,
the consignee may be induced to obtain the highest market price. The table itself
contains the proof of what has been advanced. Among the wines from other
countries, there are 9,807 gallons, in casks, from England—this, or the last item
on the table, of 2,424 gallons, must necessarily be Port wine, both from the place
whence imported, and the rate of duty prefixed. Now, it is an established fact,
that Madeira and Port wines are, according to their respective similar qualities,
of the same cost; further, that only the rated “ first quality” of Port wine is ge­
nerally, if not exclusively, imported to England; and yet the table shows this wine
not to exceed $1 per gallon cost, although overburdened with double freight, dou­
ble insurance, commissions, and other charges ; while the Madeira, of all qualities,
(the lower exceeding vastly more the higher,) imported direct, appears to cost
$1 75 per gallon—nearly double.
“ Besides, without reference to wines of other countries, taking the table as it
is, it shows a vast difference in the rate of duty on Portuguese wine alone, Madeira
paying 60 cents, or 34.41 per cent; Port, 15 cents, or 14.78 per cent? red Lisbon,
or Figueira, 6 cents, or 9 per cent; and, finally, Fayal wine, 6 cents, or 6 per cent.
Surely, when Her Majesty’s government concluded the treaty of the 26th August,
1840, with the United States, it certainly had not in view, nor could have antici­
pated, that it should be a contract for the benefit of one part of Her Majesty’s do­
minions, to the detriment of other portions of the same dominions.
“ Again—the table which has served as a basis of calculation to carry out Mr.
'Forward’s principle, shows that 683,036 gallons of French wine paid only an
equivalent ad valorem duty of 26.18 per cent; that is, less by 8.23 per cent than
Madeira; another large portion of French wine, in bottles, 14.26 per cent less; a
small portion (however small the quantity may be, it cannot destroy the argument
against the principle,) of Italian wine paid but 4.15 per cent, or over 30 per cent
less than Madeira wine—and less, too, than all kinds of Portuguese wines. Now,
at this stage of the question, the undersigned will not hesitate respectfully to in­
quire of Mr. Webster, and to abide by his judgment, whether there be not a mani­
fest violation of the treaty with Portugal ?
“ But, the main question which has unfortunately arisen between the Govern­
ment of her Most Faithful Majesty and the Government of the United States, is in
respect to the construction of the stipulation contained in the 3d article of their
treaty, and especially what is meant by the words “ like articles.”
“ Yattel, (b. 2, ch. 17, sec. 270, lays down as the general rule for a lawful inter­
pretation of a treaty, “ to discover what was probably in the thoughts of those who
drew it up,” and (sec. 271) that, in the interpretation of treaties, “ we ought not to
deviate from the common usage of language.” Now, to apply these rules to the
matter in question, it must first be ascertained what was the intention of the con­
tracting parties in making the treaty, and then there will be but one opinion as to
the true meaning of the words “ the like article.”
“ First, then, it must be taken into consideration, that both parties were aware
that the exports of Portugal and its neighboring insular provinces consist chiefly
—indeed, almost exclusively—of wine ; that Portugal, in acceding at last to re­
peated invitations of the United States to conclude a commercial treaty, by which
all the benefit to be derived by the shipping interest from such a contract would en­
tirely be in favor of the United States, her Majesty’s Government could only have
had in view to obtain, and the United States to grant, a more favorable market for
Portuguese wines, by the abolishment, in its most extensive sense, in the ports of
the Union, of all discriminating duties whatever, specific or ad valorem, which had
before been imposed by the tariffs of the United States ; in a word, that the wines
of Portugal should be admitted on a parity, in the duty, with the wines of the most
favored nation.
“ That this was the intention of both Governments, and of their plenipotentia­
ries, in regard to all Portuguese and American products in general, and more es­
pecially with regard to Portuguese wines, cannot, the undersigned justly conceives,
be disputed; when, moreover, the proviso to the 3d article fully corroborates this




Duties on Portuguese Wines.

401

mutual understanding of the parties to the treaty, as it points plainly to this very
article wine, in the sense just stated ; that so long as the convention of 1831 with
Prance existed, and no longer, could the exception continue in favor of French
wines; the consequence being, that, thereafter, Portuguese wines, with those of
France, should be uniformly taxed, distinguishing only the red from the white, and
wine in bottles, as in that convention, in contradistinction to the inode until then
adopted in the revenue laws of the United States, to the detriment of the wines of
Portugal and its possessions, which always suffered from heavy discriminating du­
ties, as is shown in the annexed table, No. 1.”
“ The object of the treaty being clear and indisputable, as Mr. de Figaniere
thinks, he flatters himself that the sense intended to be conveyed by the plenipoten­
tiaries, to the words “ like article,” cannot long remain a matter of controversy.
(Vattel, b. 2, ch. 17, secs. 274,287, and 290.)
“ Following the rule of construction already quoted, in common language, the ar­
ticle wine, means wine ; tobacco, means tobacco; and flour, means flour. The ar­
ticle is, therefore, the genus; and although this genus may have different kinds or
species, still, all these are embraced in the genus, which is the abstraction of the
species, the common denomination of all of them. It was evidently the intention of
the contracting parties not to depart from the common signification of the word
“ article,” as they certainly could not have contemplated an impossibility, (Vattel,
b. 2, ch. 17, sec. 283 ;) for, if the words “ like article” are to be applied to the spe­
cies, in vain will a like article be sought for. Wine is wine ; but even Madeira
wine is not Madeira wine, and Maryland tobacco is not Maryland tobacco, for there
are within each species of the article numerous distinctions as to quality, price, co­
lor, &c. &c. ; and, certainly, under no circumstances can it be said that Port wine,
or Madeira wine, is “ the like article” as any sort of wine growing in any other
country. There may be a resemblance between two sorts of wine of different
countries ; but they can certainly never be called, with propriety, the like article ;
and so the case would never arise for the application of the treaty stipulation, which
would, consequently, be null and without any effect whatever—a supposition which
cannot, according to sound rules of construction, be entertained. (Vattel, as
quoted above.)
“ The plenipotentiaries would surely never have used the words “ the like arti­
cle,” had they intended any reference to the species, (which is nonentity in this
case.) Had. such been their design, they would have used, with more propriety,
Mr. de Figaniere thinks, the words similar articles, and have laid down rules clearly
to ascertain what was to constitute the similarity, instead of leaving the question
open to all those doubts which must necessarily arise under Mr. Webster’s con­
struction.
“ The honorable secretary of state, in his note of the 9th of February, seems to
think that the commodity of the same denomination—that wine, in fact, which has
the like value—is to be considered as the “ like article and hence Mr. Forward
argues, that Portuguese wine, being more valuable than most all other wine, the
higher specific duty upon the former does not operate as a higher ad valorSn duty;
and that only if other foreign wine of the same value were subject to a lower duty,
could Portugal have cause of complaint.
“ Even admitting this argument to be in conformity with the treaty, (which
opinion, however, must be considered as refuted by the foregoing remarks,) the vio­
lation of that treaty is then evident; inasmuch as the act of the 30th of August,
complained of, imposes 40 cents per gallon on the wine called Champagne—a spe­
cies of the article (wine) vastly more costly than the generality of that which is
imported from Madeira, and yet this pays 60 cents per gallon ; and so with many
other kinds of wine, which Mr. de Figaniere thinks superfluous to enumerate.
“ But the above assumption is altogether ungrounded. Had the parties to the
treaty intended to stipulate that merchandise of the same value as that from other
countries should be treated alike, they would have said so, and not have used the
phrase “ the like article,” which can alone have the meaning of alike in all the
general features which constitute the genus, in contradistinction from the species.
If articles were the like articles because they have the same value, other qualities




402

Duties on Portuguese Wines.

might he. stated, with the same reason, to constitute the criterion of the likeness—
the like color, the like strength, the like body, &c. & c .; for all these, and the likeconsiderations, determine the species or kind of wine, but not the genus or article
wine.
“ Mr. Webster says, that neither party to the treaty between Portugal and the
United States supposed itself precluded, by its stipulations, from the ordinary
modes of exercising its own power of making laws for raising revenue ; and be­
cause the United States have heretofore made distinctions in the general article
wine, Mr. Webster argues that it would not be considered as any infraction of the
treaty with Portugal to subject Pert wine to one duty, and Sicily wine to another,
because they are separate articles, so regarded in transactions of commerce, in the
duty-laws of various governments, and especially in those of the United States;
and refers to the example, of the teas of China, which have heretofore been sub­
ject to different rates of duty, in the United States, as separate articles—as Bohea, Congo, Hyson, &c.
“ In the first place, although the undersigned perceives, by the bill transmitted to
the House of Representatives at the last session by the secretary of the treasury,
that the American government abandoned the distinction alluded to as respects
teas, and proposed a uniform duty on the black, and another on green tea, Mr.
de Figaniere cannot perceive that this example can be applicable to the case;
for tea is the product of a plant as yet peculiar to China alone, and no ques­
tion of a similar character can arise until the plant be transplanted, and other
countries export the produce, and have like treaty stipulations with the United
States. Secondly, in England, and, indeed, in all other countries, the undersigned
believes ovine, as an article, without reference to quality, cost, or even color, is sub­
ject to one duty alone on the quantity; (the imperial gallon in England, the pipein other countries, & c.;) while, on the contrary, the United States have endeavored
to discriminate between the different kinds, which discrimination has always been
disadvantageous to the ovine of Portugal and its possessions, as has been shooom
above; while it has equally been stated that “ the reason of the treaty—that is, the
motive ovhich led to the making of it,” (Vattel, \ 287,) ovasto cause the cessation
of the said disadorantage ; for, otherwise, Portugal would have required no treaty
with the United States, so long as their known commercial policy continued. And
the undersigned ovill take this occasion to call the attention of the honorable secre­
tary of state to the extraordinary feature this discussion has disclosed—and that
is, that the wine of Portugal, and especially the kinds called Madeira and Port,
which predominate in the trade with the United States, never bore, before the trea­
ty, so heavy a discriminating duty, with reference to other wines, as since the con­
clusion of that treaty ! When stipulations are entered into by one government
with another, if the customary mode of raising revenue in the one operates as an
infringement of the stipulations with, and to the prejudice of, the other, that go­
vernment is bound, in good faith, to change the mode, however prescriptive it
might 1^| and adopt another in accordance with, or to meet its engagements ; and
although, thirdly, the different species or kinds of wine maybe, in a commercial
sense, separate articles, they are not such in the sense of the treaty, as has
been already demonstrated.
“ Besides, when two nations conclude a commercial treaty, it is reasonable to
suppose they can have no other object in view than to give and to receive, mu­
tually, as near as possible, equal advantages. This equitable principle, invaria­
ble in such treaties, would suffice, the undersigned would think, to exclude the
construction the American government gives' to the treaty with Portugal; for,
Portugal having most faithfully performed her part of the contract, all the advan­
tages in this case accrue to the benefit of the United States, and all the disad­
vantages to the detriment of Portugal. This is no false inference, Mr. de Figa­
niere begs to say ; it is the actual state of things, brought about by, principally,
the act of the 30th of August la st; for the traffic in wine, which, like all other
trade, finds its level when untrammelled, is now at a stand, as respects wine
from Portugal. While other qualities of wine continue to be imported, very little
Madeira and Port has arrived since the passage of that act. Vessels with full




Duties on Portuguese Wines.

403

cargoes of American produce are constantly departing for Portugal and its pos­
sessions ; they either find freights for other countries, bring a few bushels of salt,
or return in ballast. Equity requires that the same, or equivalent benefit, be
extended to both the contracting parties.
“ Now, without prescinding from what has been stated, the undersigned begs
leave further to call the honorable secretary’s attention to another, and, perhaps,
a clearer and a more satisfactory mode of viewing the subject in question.
“ It being established that the design of the treaty was to extend, in the ports of
each contracting power, to their respective products the same rights, privileges,
and favors, which are, or may be, granted to the most favored nation, (articles 5th,
8th, and 13th,) Mr. de Figaniere proposes to show that this stipulation has been
disregarded in the act of the 30th of August, 1842 ; unless, indeed, such a use
be made of the proviso in the law, as to adapt it to the treaty, as he requested in
his note of the 10th of November last.
“ The act imposes duties on wine, as per annexed extract, No. 2. It will be
perceived that upon all the wines of Austria and Prussia, in casks, but one uniform
duty is laid—on the white wine, 7 1-2 cents per gallon; on the red wine, 6 cents,
uniformly also, Not so with the wine of Portugal. Madeira, however inferior in
quality, pays 60 cents, or ten times more than Moselle, and other superior Rhenish
or Hock wines; Port, nearly three times as much, or 15 cents per gallon.
“ It will not be necessary, Mr. de Figaniere thinks, to enumerate ail the par­
ticular kinds of wine produced in these three mentioned countries, nor to undergo
the difficult task of establishing their numerous qualities and cost. He presumes
that, to make out his case, it is sufficiently known that there are, in the wines of
these countries, different classes; of these, different qualities, and these yet sub­
ject to subdivision; and all bearing various and different prices, from the highest
to the lowest cost.
“ The undersigned does not complain of the above apparent favor with which
the wine of Austria and Prussia is treated in the revemie law alluded to ; but he
begs to say, with all respect, that Her Most Faithful Majesty’s government does
complain (and lie contends that it has full cause of complaint) in not being equally
favored with Austria and Prussia—the three cases being exactly similar ; similar
in all three nations producing w ine; similar in their respective wines being sus­
ceptible of division and subdivision, as to quality and cost; and similar, again, in
treaty stipulations with the United States. And, as an illustration of this latter
fact, the undersigned will here copy the fifth article of the treaty between the
United States and Prussia, of the 1st of May, 1828 ; which, Mr. Webster will
perceive, corresponds, word for word, to the third article of the treaty of the 26th
of August, 1840, between Portugal and the United States: ‘ No higher or other
duties shall be imposed on the importation into the United States of any article,
the produce or manufacture of Prussia, (the growth, produce, or manufacture of
the kingdom and possessions of Portugal;) and no higher or other duties shall be
imposed on the importation into the kingdom of Prussia, (into the kingdom and
possessions of Portugal,) of any article, the (growth) produce or manufacture of
the United States, than (such as) are, or shall be, payable on the like article, being
the (growth) produce or manufacture of any other foreign country.’
“ Either the United States government deemed itself bound, by this stipulation
with Prussia, to admit her wines on the payment of a uniform duty on the red and
on the white respectively; and, in that case, the same stipulation prevailing with
Portugal, the same causes should produce the same effects; or, the United States
granted' this special favor to the wine of Austria and Prussia; and, in this instance,
Portugal can claim the same favor for her wine, according to the stipulation of
the thirteenth article of her treaty with the United States.”
No. I.—Referred to in preceding noter showing the Duties on Wines since 1789.
Tariff—1789—Madeira,..............................................................................
Other wines,.......................................................................
“
1790—Madeira, first quality,........................................................
“
other qualities,...................................................
Sherry,............ .................... ..............................................




18 cts. per gallon
10
«
35
“
30
“
25
“

404

Duties cm Portuguese Wines.

Tariff—1790—Other wines,.......................................................................
“
1792—Madeira, first quality,........................................................
“
second quality,...................................................
“
third quality,.....................................................
Sherry,......................................................................... .......
St. Lucar,............................................................................
Lisbon and Port,...............................................................
Teneriffe and Fayal,..........................................................
All other wines,..................................................................
“
1795—Same as above, and—
Champagne and Burgundy,..............................................
Malaga,...............................................................................
“
1812—W ar with England—all duties doubled.
“
1816—Madeira and Champagne, Rhenish and Tokay,............
Sherry and S t Lucar,.......................................................
Lisbon, Port, others of Portugal, and Sicily wines......
Teneriffe, Fayal, and others of Azores,........................
All others, in bottles,.........................................................
“
in casks,...........................................................
“
1819—Same as 1816.
Reducing the unenumerated, in casks, to.......................
“
“
“
in bottles,.........................
“
1828—O f France, Germany, Spain, and the Mediterranean,
in casks,............................................................................
Except red of France and Spain, in casks,....................
Of all countries not especially enumerated, in casks,...
(When in bottles, duty on same.)
On Sherry and Madeira,...................................................
“
1832— Of France, (convention of 1831,) red,...........................
W hite,........................................................................... .....
Other, in bottles,...............................................................
After 3d of March, 1834, reduction of one-half on all
wines, therefore—
Madeira,..............................................................................
All other Portuguese,.....................................................
Act 4th July, 1830, a further reduction of one-half on
wines of every nation, which reduced (besides peri­
odical reductions, as provided in “ compromise act”
of 1833,) Madeira to.....................................................
And all other Portuguese wine to...................................

20 cts. per gallon.
56
49
40
33
30
25
“
20
40 per ct. ad val.
40 cts. per gallon.
20
S I per gallon.
60 cts. per gallon.
50
40
“
70
25
“
15
30
15
10

30
50
6
10
22

25
15

124
7i

No. 2.—Referred to in Mr. Figaniere's note, showing the duties on wine, as per act of
30th o f August, 1842; and that all the white wines o f Austria, Prussia, and Sardi­
nia, are subject to one duty, and all red wines o f the same countries to a uniform duty,
and Sicily wine, in bottles, to 15 cents.
On Madeira, Sherry, St. Lucar, and Canary,........................................... 60 cts. per gallon.
On Champagne wines,................................................................................ 40
“
On Port, Burgundy, and Claret, in bottles,............................................... 30
“
On Port and Burgundy, in casks,............................................................... 15
“
On Teneriffe,................................................................................................. 20
“
On claret, in casks,.......................................................................................
6
“
On the white, not enumerated, of France, Austria, Prussia, and Sardi­
nia, and of Portugal, and possessions,...................................................
7J
“
In bottles,.......................................................................................... 20
“
On the red of the above countries, not enumerated................................
6
“
In bottles,.......................................................................................... 20
“
On the white and red of Spain, Germany, and the Mediterranean, not
enumerated, in casks,.............................................................................. 12J
“
In bottles,.......................................................................................... 20
“
On Sicily-Madeira, or Marsalla, in casks,................................................ 25
“
On others of Sicily, in casks or bottles,................................................... 15
“
On all other, not enumerated, and other than those of France, Austria,
Prussia, and Sardinia, and of Portugal and its possessions, in bottles,. 65
“
In casks,............................................................................................ 25
“




Duties on Portuguese Wines.

405

T he view taken of the case by the Portuguese minister, is upheld by
the opinion expressed by Mr. K avanagh, who was our minister under the
treaty with Portugal. In a letter w ritten by him to the former, he says—
“ I regret exceedingly to find that Portugal has cause to complain of those
provisions of the late tariff act that relate to the article wine. It was cer­
tainly the intention o f the negotiators of the treaty of 1840, that the pro­
duce of Portugal should be admitted into this country on as favorable
terms, in every respect, as that of any other n atio n ; and the words that
are used in the treaty did not appear to us to leave any ground, w hatever,
for doubt or misconception. How that equality was to be produced, it
did not occur to us that it was w ithin our competency to stipulate. I
agree w ith you that the specifications in the act of August 30, 1842, are
manifestly unequal and u n ju st; nor can I understand by w hat rule the
committee w ere governed who reported the bill. I hope, however, that
the proper officers will avail themselves of the proviso to do justice.”
In the Congressional Document No. 41, of the tw enty-eighth Congress,
Mr. Secretary Upshur confessed the claim of Portugal “ to be extremely
s t r o n g w h i l e , in a letter w hich he had w ritten to the Portuguese minis­
ter a short time before, he said that “ the subject would be brought before
Congress at an early date, and there was every reason to hope and to ex­
pect that it would be adjusted upon terms satisfactory to Portugal.”
On the 10th day of January last, (1844,) President T yler transmitted a
message to the House of Representatives, together with the above-men­
tioned letter of the secretary of state, and the correspondence also before
alluded to. It was read on the same day, and referred to the committee
on foreign affairs; and this committee, about a month afterwards, made a
report, (unanimously agreed to,) sustaining the Portuguese cla im ; and
accompanied it w ith a bill to carry into effect the spirit of the treaty with
Portugal, and to authorize a refundment of the excess of duty paid. T his
report ended with the following decisive language:— “ Your committee
are satisfied that the claims of the governm ent of Portugal are just and
reasonable, and that the rights guaranteed to her, by her treaty with the
United States, have been overlooked, (unintentionally, no doubt,) in the
tariff act of 1842. T hey therefore beg leave to report a bill putting the
wines of Portugal on the same footing with the wines of the most favored
nations, and providing for a repayment of all sums which may have been
collected on the wines of Portugal, contrary to this principle.”
T he bill was, for nearly two months, in charge of the committee of the
whole House on the state of the Union, without any action being had upon
it. M eanwhile, the committee of ways and means had reported a new
tariff bill, in which it was proposed to levy a duty of 30 per centum ad
valorem, on all wines.
In this stage of the m atter, the minister for Portugal again remonstrated.
H e insisted that an ad valorem principle was improper, raising a new ob­
servation : that an ad valorem rate, if applied to an article like w ine,
would, most assuredly, tend to encourage the dishonest dealer, to the in ­
jury of the honest m erchant. H e urged also the loss which the vineyards
and commerce of Portugal had already suffered, by a misinterpretation of
the treaty— a loss of a m arket that could not be compensated f o r ; while
he conceded that, at all events, if the then specific duties on wine were to
remain for any length of time, and the bill to carry the treaty into effect
were to pass without further delay, Portugal might rep air that loss, in




406

Duties on Portuguese ‘W ines.

part, however, only, by having the same chance of the American market
on term s like those connected with wines which had enjoyed the market,
to the exclusion, for two years, of Portuguese wines.
T he effect of the tariff act of 1842 had been most serious. F or in­
stance, the importation of M adeira wine had fallen off from a yearly
average of 194,824 gallons, for the five years preceding this tariff; to
4,79i gallons in the year subsequent to its passage, and to much less since
that time. T his enormous difference had resulted, of course, to the advan­
tage of the wine of other countries.
W e now come to a paper in which we, ourselves, had a hand. Im­
porters of Portuguese w ine felt that the tariff amounted to interdiction ;
and the question was mooted as to how it could be legal, w hen it clashed
w ith the term s of the treaty, and with the recognition of that treaty in the
tariff itself. A case was laid before counsel; and D aniel Lord, jr., Esq.,
of N ew York, with the w riter o f this article,, gave a joint opinion on the
question, mainly w ritten by Mr. Lord. T he principal part of this opinion
fell into the hands of the Portuguese m in iste r; and he laid it, to strength­
en his views, (as he considered,) before M r. Upshur, the then secretary
o f state. T his was in Decem ber, 1843. T he following em brace such
parts of the opinion :—
“ By the proviso in the eighth section of the act of 1842, August 30,
‘ that nothing in that act contained shall be construed or permitted to ope­
rate so as to interfere with subsisting treaties w ith foreign nations,’ wre
a re relieved from considering the delicate question w hether, w hen an act
of Congress is passed, (all parts of the legislative power, w hich includes
the treaty-m aking powder of the country, concurring,) which-conflicts with
an anterior treaty, the courts of this country can execute the treaty, by
treating the act of Congress as inoperative ?
“ By the proviso introduced into the section imposing the w ine duties,
it is plain that Congress did not intend the law to conflict with the treaties;
but that the executive and judicial functionaries, whose province it is—
the one primarily, the other ultimately— to construe the law, should so
construe it as not to infringe the treaties ; and, if no construction of the
words of the law could relieve the latter from a conflict with the treaties,
then they w ere not to permit the law to interfere w ith the treaties. The
question, therefore, is fully open to the operation of the courts of jus­
tice.
“ T hen, w hat is to be the true construction as to wines, under the third
article of the treaty ?
“ In the construction of an act of Congress imposing duties, it is settled,
that articles are to be classed, not according to origin, use or value, but
solely according to the com mercial nam e or designation w h ich they bear.
It m ight result from this that an identity or difference of commercial de­
signation would indicate the identity or diversity of the articles. Does
this mode of interpretation belong to a treaty ? T h e reason why it is
adopted in the construction of a revenue law is, that, as it is addressed to
m erchants, its terms shall be taken in a com mercial sense, and be ad­
judged com mercial term s. T his reason has not a like application to a
treaty, w hich is based on a broad reference to the rules of natural reason.
It is addressed, not so much to merchants, as to the princes who are par­
ties ; and it seems hardly accordant w ith a just construction of treaties to
apply to them the technical rules w hich are applied by the functionaries




Duties on Portuguese Wines.

407

of one of the nations in its adm inistration'of its revenue laws to the sub­
jects thereof.
“ T he phrase ‘ like article,’ in the third article of the treaty, must be
determined from the broad m eaning it bears in common understanding
as applicable to a subject and to the position and relation to the subject
of the parties using the language, thence inferring the sense in which
the terms w ere or are to be deemed used.
“ It is to be rem arked that the wines from Lisbon, Oporto, and Madei­
ra form a very large part of the merchandise which Portugal exports
from her possessions into the United States. It is a subject, therefore, which
could not fail to have come under the contemplation of the parties in the
treaty. It was asubject on which the chief commercial advantage to P or­
tugal, from the reciprocity of the treaty, was to be derived ; and must be
deemed to have been an object of prominent attention.
“ At this period, the state of the legislation of the U nited States on the
wine duty was as follows : T he tariff law of April 27, 1816, (3 Story’s
Laws, U. S. 1587.) §1. class sixth, page 1590, had imposed a specific
duty on wines as follow’s, viz : on M adeira, Burgundy, Champagne, R he
nish and T okay one dollar per gallon, on Sherry and St. Lucar, sixty
cents per gallon ; on other wine not enumerated, when imported in bot­
tles or cases, seventy cents per gallon ; on Lisbon, Oporto, and on other
wdnes of Portugal and those of Sicily, fifty cents per gallon ; on Teneriffe,
Fayal, and other wines of the w estern Islands, forty cents per gallon ; on
all other wdnes, when imported otherwise than in cases and bottles, tw en­
ty-five cents per gallon. Although a specific duty is laid by this act, yet
it would seem to have gone upon the notion of a charge according to the
value of the article as a general guide, although it adopted the form of a
specific duty for convenience of assessing it.
“ In the next alteration of the tariff, by the act of 1824, May 24,,(3 Sto­
ry, 1942) no change appears to have been made in the w ine duties. By
the act of May 24, 1828, (U . S. Law’s, vol. 8, p. 130) new duties w ere
imposed on wines ; and the old duties ceased. T he new duties W'ere on
the wines c f France, Germany, Spain, and the M editerranean, when
imported in casks, unless specially enum erated, fifteen cents per gallon,
except the red wdnes of France and Spain w hen not imported in bot­
tles, which w ere to pay only ten cents per gallon. On w ines of all
countries w’hcn imported in bottles or cases, unless specially enumerated,
oft wines of Sicily and on all w ines not enum erated, w hether imported
in bottles, cases or casks, thirty cents per gallon in addition to the duty
existing on the bottles w’hen thus imported. On Sherry and M adeira
wines, w hether imported in bottles, casks, or cases, fifty cents per gallon
in addition to the duty on the bottles w hen so imported- (4 Story, 2113.)
In the act of 1832, July 14, (4 Story, 2321,) also act July 13 (1832,
§ 10,) is the following provision. ‘Twenty-third.. On the wines of F rance,
namely, red w ines in casks, six cents a gallon ; white wines in casks, ten*
cents a gallon ; and F rench w ine of all sorts in bottles, twenty-two cents
a gallon, until the 3d of March, 1834, and from and after that day, one
half of those rates respectively. And on all wines other th an those of
France, one-half of their present rates of duty, respectively, from and after
the day last aforesaid. Provided that no higher duty shall be charged un­
der this act or any existing law on the red wanes of Austria than are now




403

Duties on Portuguese Wines.

or may be, by this act, levied upon red wines o f Spain, w hen the said
wines are imported in casks.’
“ It is m aterial to notice that, at this date, a special provision had been
made, reducing the French wines-duty, by the treaty with F rance, to the
rates specified in the a c t : see treaty of Paris, 4th July, 1831, act 7. (8th
vol. laws U. S. 1000.)
“ T here was also a treaty with Austria, the fifth article of which, in substance and expression, is like the 3d article of the treaty w ith Portugal.
(T reaty of W ashington, F eb. 10, 1831, art. v. 8 laws U. S. 948.) Here,
the 4like article’ is confessedly the red wines of A ustria and the red wines
of Spain.
“ T he next act of Congress is that of July 4th, 1836, (acts of 1836, ch.
359, page 244) whereby the discriminating duties are taken off from the
manufactures or produce of Portugal, including Madeira, Portosanto and
Azores, w hen imported in Portuguese vessels, so that they should only
pay the same duties as if imported in vessels of the United S tate s; and
by § 2 of this act, the duty on all wines imported into the United States
w as reduced from and after July 30, 1836, to one-half of w hat was then
chargeable.
“ In 1840, then, w hen the treaty was negotiated, the classification of the
act of 1828, May 24th, existed ; and one-fourth of the rates of duty im­
posed by that act was levied, it being successively reduced by the acts of
1832 and 1836.
“ U nder these circumstances, w hat did the parties understand and what
ought they to be deemed to have understood by the article of the treaty, in
using the term * like article,’ as applied to the wines of Portugal ?
“ W ines, at that time, stood classified by the countries of their produc­
tion. T he wines of France, Germany, Spain, and the Mediterranean,
diifered greatly in value, in flavor, and in kind, as distinguished in every
w a y ; yet they certainly are classed together for the purpose of duty, and
cannot but have been deemed a like article to each other.
“ T he wines of Sicily are taxed along w ith wines of all countries, and
S herry and M adeira are specifically and separately taxed ; not, it is con­
ceived, as being articles unlike the other xvines, but merely as articles of
a different value.
44T he argument against the United States upon this act,i n the construc­
tion of the treaty, is very strong. This act cannot be read without per­
ceiving that these wines, as therein mentioned, w ere all considered as a
4 like article,’ although from a difference in value, the duty varied upon
M adeira and S herry wine.
44On P ort w ine the duty fell under the general classification of wines of
all other countries ; and it was subject to duty with wine of Sicily. It
stood there, clearly, as a ‘ like article’ w ith the wine of Sicily, and of all
other countries not mentioned in the act.
44 S herry and M adeira were certainly treated as articles like to each
other. Indeed, if this act is to be a guide to the then understanding of
the United States government, all wines w ere clearly ‘ a like article.’
44Again, if resort be had to the act of 1816, although the duty on wines
there is very various, according as the wines differed in value, it cannot be
denied that strong corroboration is given to the position that the wines
there spoken of are a like article each to the other. Thus Madeira, Bur­
gundy, Champagne, and Tokay, are classed together, under one rate of




Duties on Portuguese Wines.

409

duty, as being articles to be viewed unitedly; and w here the duty is va­
ried in amount, still the whole law proceeds on the ground of their being
all like a rtic le s; certainly it does not countenance the view that a mere
difference of flavor prevents them from being like articles.
“ And, in a general and extended view, it seems difficult in the extreme
to conceive that an article of luxurious use, from the same fruit, by similar
process of manufacture, devoted to the same uses, and all more or less
coming as substitutes for one another in a consuming country, shall not be
held in all its varieties a like article as betw een nations making a treaty.
“ Portugal, looking to her wine trade, must be considered as looking to
wines which could either supplant its wines, or compete with them in
commerce.
“ In each view, such effect would result from this being ‘ like articles,’
and they must be deemed to have been so contemplated by her in the
treaty.
“ Speaking with the hesitation which belongs to questions w here no
authority of adjudged cases can be brought to our aid, it seems to us the
fair and sound construction of the treaty, that all wines are to be treated
as a like article to each other in relation to this treaty.
“ Another question then arises as to the mode in which the treaty is to
be carried out. I f Congress has laid a duty, in form, either ad valorem
or specific, the basis of which is the value of the wines, either abroad or
in this country, it would seem to have complied with the treaty, if it has
applied the same rule to Portuguese as to other most favored wines.
“ It cannot be that, by the treaty, Congress can be restrained from an
ordinary and fair mode of assessing customs, provided it apply the same
rule in substance to Portugal as to other favored nations. H ere would
seem to be the chief difficulty of the present case. For, although by the
act of 1842, Aug. 31st, the duties are specific, yet if, upon evidence, they
should appear to rest on value, as the general basis, it can not be said
that the treaty is infringed. But, in the absence of clear and strong proof
to the contrary, it ought to be assumed, and will be, that by laying a spe­
cific duty, an ad valorem basis was not contemplated. I f so, the excess
of duty on Portuguese wines must be recovered back.
T here is a satisfaction in giving the above opinion to the. press, because
the same conclusion has been come to by the present secretary of the
treasury, as will appear by his decision, which we now give, but which
has never before been printed.
“ T he tariff of 1842, imposes on certain wines of Portugal, other and
higher duties, than are imposed on the red and white wines of France,
Austria, Prussia, and Sardinia. On Madeira wines imported into the
United States of America, that act imposes a specific duty of sixty cents
per gallon, in casks, or in bottles ; on Port in bottles, thirty-five cents per
gallon ; on P ort in casks, fifteen cents per gallon.
“ T he same act, however, imposes on white wines of F rance, Austria,
Prussia, and Sardinia, in casks, seven and a half cents per gallon, and in
bottles tw enty cents per gallon ; and on red wines of France, Austria,
Prussia and Sardinia, in casks, six cents per g allo n ; in bottles, twenty
cents per gallon. T his act of 1842 also imposes a duty on other wines
of Sicily, in casks or bottles, fifteen cents per gallon.
“ In the execution of subsisting treaties, the most scrupulous good faith
is to be observed : in the exposition of them, the stipulations by the one
VOL. x i.— no . v.
33




410

Duties on Portuguese Wines.

party in favor of the other party, are to be construed liberally and benefi­
cially ; and most strongly against the party making the stipulation.
“ W ines are described by color, therein the similarity of the wines of
different countries, and even of the same nation, consists.
“ T he value of wines are judged by their flavor, age, & c. ; and in this
respect, wines of the same color, produced in the same country, differ, by
reason of soil, and exposure to the rays of the sun in different degrees.
T he same private estate produces w ine, red and white, of different quali­
ties and value from the same species of the grape, because of the differ­
ence of soil, heat, and moisture. Different countries and different cli­
mates produce wines of different values, but yet the separate articles are
sim ilar.
“ To lay a higher duty upon the wines of Portugal, red and white, than
that imposed upon the red and white wines respectively, of France, Austria, Prussia, and Sardinia, by specific geographical description, would
render the treaty, betw een H e r Most Faithful Majesty and the United
States of America, a dead letter, denying to the former the beneficial re­
sults which superinduced the correlative stipulations in behalf of the Uni­
ted States.
“ U nder this view of the effect of the treaty with H e r Most Faithful
Majesty, so concluded by the United States, it is of higher and superior
obligation than the act of the Congress of the United States of 1842, so
far as that enaction conflicts w ith the treaty.”
W e have, thus, gone through the m atter of Portuguese rights and American duties ; and we are strongly inclined to believe that the reader will
take up w ith our view of the subject.
At the time when the circular o f Mr. Secretary Bibb was promulgated,
some of our leading newspapers mentioned that an amount equal to four
hundred thousand, or even to half a million of dollars would have to be re­
funded. In this there was a m aterial error. T he amount of importa­
tions of M adeira and P ort wines under the tariff, from the time it went
into operation, up to the issuing of Mr. Bibb’s circular, was as follows :—
In the month of Septem ber, 1842, there was about 82 pipes of Madei­
ra ; but nearly all of it w as re-exported, being entitled to drawback.
From the 1st day of October, 1842, to the 30th day of June, 1843, there
was imported direct and indirectly, M adeira, 3,949 gallons, and of Port
w ine, 38,921 gallons. And from Portugal direct, during the last six
months of the year 1843, an amount of 18,390 gallons of P ort (1501
pipes;) but no M adeira. And, direct, in the first six months of the year
1844, (26 pipes of Madeira,) or 3,120 gallons, and of Port, also direct,
(1,0734 pipes,) or 129,060 gallons. And, besides this, there may have
arrived a small quantity from England and the Brazils ; but all the indi­
rect quantities during the times last aforesaid are hardly worth mention­
ing. So, then, w e have for a dutiable article, 7,069 gallons of Madeira,
and 186,371 gallons. T he return duty upon which will scarcely exceed
the sum of $20,000.
But, the amount of return duty is nothing w hen compared with justice,
and we cannot close this article better than by using the words of the
Committee on Foreign Affairs, w hen they reported a bill to put Portu­
guese w'ines on a right basis.
“ It is not in the nature of a treaty betw een nations to enter into the
“ various qualities of commodities, or the different prices which they may




Commerce and Resources o f Louisiana.

411

“ command. N or is it in the spirit which it becomes nations to interpret
“ or administer treaties, to stickle on refined discriminations or arbitrary
“ definitions in carrying out its obligations. T he obvious m eaning is
“ usually the just m eaning; and even in matters of doubt, it is far better,
“ where the interests are not vital, to yield to the demands of others, whet e
“ we are satisfied that they are kindly preferred, than to withhold advan“ tages at the expense of imputations, which may be not entirely ground­
l e s s , against our integrity or honor.”

A rt. II.—COM M ERCE AN D RESO U RCES' O F LOUISIANA .

T h is state, the southernmost of the southern United States, was explored

in 1682, by L a Salle, and named Louisiana, in honor of Louis X IV . It
is bounded north by Arkansas and M ississippi; east by Mississippi, from
which it is separated by Mississippi river, to the 31st degree of north lati­
tude ; thence east in that parallel, to P earl river, and down that river to
its entrance in the G ulf of M exico; southeast and south by the G ulf of
Mexico, and west by Texas, from which it is separated by Sabine river,
to the 32d degree of north latitude ; and thence due north to 33 degrees
north latitude, where it meets the south boundary of Arkansas. It is b e­
tween 29 and 33 deg. north latitude, and between 88 deg. 40 min. and
94 deg. 25 min. west longitude, and is 250 miles long, from north to south.
On the G ulf of Mexico, it is about 300 miles broad, and continues this
width for 120 or 130 miles inland, when it suddenly contracts to the width
of about 100 m iles; and on the north boundary, it is 180 miles wide.
The state is divided into thirty-eight parishes, answ ering to counties in
the other states ; which, according to the official census of 1840, w ere as
follows :—
E astern D istrict .

Parishes.
Ascension,.....................................
Assumption,...................................
Baton Rouge, E.,.........................
Baton Rouge, W .,........................
Carroll............................................
Concordia,.....................................
Feliciana, E ast,............................
Feliciana, West,...........................
Iberville,........................................
Jefferson,......................................
Lafourche Interior,......................
Livingston,....................................
Madison,........................................
Orleans,.........................................
Plaquemines,.................................
Point Coupee,..............................
St. Bernard,...................................
St. Charles,...................................
St. Helena,....................................
St. James,......................................
St. John Baptist,..........................
S t Tammany,..............................
Terre Bonne,................................
Washington,..................................

Total,,




W estern D istrict .

Pop.
6,951
7,141
8,138
4,638
4,237
9,414
11,893
10,910
8,495
10,470
7,303
2,315
5,142
102,193
5,060
7,898
3,237
4,700
3,525
8,548
5,776
4,598
4,410
2,649

249,641

Parishes.
Pop.
6,616
Avoyelles,......................................
Caddo,.......................................
5,282
Calcassieu,.........................................
2,057
Caldwell,...........................................
2,017
Catahaula,.........................................
4,955
Claiborne,..........................................
6,185
Lafayette,.......................................
7,841
Natchitoches,.................................
14,350
Rapides,.........................................
14,132
St. Laudry,....................................
15,233
St. Martin’s ,.......................................
8,674
S t Mary’s,.........................................
8,950
Union.............................................
1,838
W ashita,............................................
4,640

Total,...................................

102,770

Total of state,,

352,411

412

Commerce and Resources o f Louisiana.

T he population in 1810, was 76,556 ; in 1820, 153,407 ; in 1830,
215,575 ; and in 1840 it had increased, as will be seen by the preceding
table, to 352,411; of whom 16*2,452 w ere slaves. O f the free popula­
tion, in 1840, 89,744 were white- males, and 68,710 white females ; 11,526
colored males, 13,976 colored females.
T he employments of the population, in 1840, are thus classified by the
census, viz:— In agriculture, 79;289; in commerce, 8,549; in manufac­
tures and trades, 7,565 ; in navigating the ocean, 1,322; in navigating
canals, lakes, and rivers, 662 ; and in the learned professions, 1,018.
In 1699, a French, settlem ent was begun at Ibberville, by M. Ibbervilie ; who, in the attempt to plant the country, lost his life. H is efforts
w ere followed up by M. Crozat, a m an of wealth, who held the exclusive
trade of the country for a num ber of years. About the year 1717, he
transferred his interest to a chartered company, at the head of which was
the celebrated John Law , whose national bank, and Mississippi specu­
lation, involved the ruin of half the F rench nobility. In 1731, the com­
pany resigned the concern to the crown ; who, in 1762, ceded the whole
of Louisiana to Spain. In 1800, Spain re-conveyed the province to the
F rench, of whom it was purchased by the United States, in 1803, for about
$15,000,000. This purchase included all the present territory of the
United States, west of the Mississippi. Soon after the purchase, the pre­
sent state of Louisiana was separated from the rest of the territory, under
the name of the territory of O rleans. In 1812, Louisiana was admitted
to the Union as a state, and the part of W est Florida west of Pearl river
w as annexed to it. In D ecem ber, 1814, and for several days afterwards,
the British made an attack upon N ew O rleans; but w ere repulsed, Janu­
ary 8th, 1815, by the Americans, under General Jackson, with the loss of
about 3,000 men killed, wounded, and taken prisoners. T he American
loss is stated to have been only seven men killed, and six wounded. Gen eral Packenham, the British commander, was killed.
In 1764, British vessels began to visit the Mississippi. They would
sail past the city, make fast to a tree opposite the present city of Lafay­
ette, and trade with the citizens. T he exports during the last year of its
subjection to France, w ere $250,000 ; and the population of the city was
3,190. T he commerce suffered by the restrictions of the Spanish. In
1785, the population of the city, exclusive of the settlements in the vici­
nity, was 4,980. A more liberal course of the Spanish government re­
vived the trade of N ew O rleans; and French, British, and American ves­
sels, began to visit N ew O rleans. In 1788, a fire consumed 900 houses.
In 1791, the first company of F rench comedians arrived from Cape Fran­
cois, having fled from the massacre at St. Domingo. Other emigrants
opened academies, the education of youth having been previously in the
hands of priests and nuns. In , 1792, B aron Carondelet arrived. He
divided the cit}' into four wards, and recommended lighting it, and em­
ploying w atchmen. T he revenue of the city did not amount to $7,000,
and the lighting it required a tax of $1 12 1-2 cents on every chimney.
H e erected new fortifications, and had the militia trained. In 1794, the
first new spaper w as published in Louisiana. In 1795, permission was
granted by the king to the citizens of the United States to deposit their
merchandise at N ew Orleans, during a period of ten years. In 1796, the
canal Carondelet was completed. On M arch 21st, 1801, Louisiana was
ceded by Spain to the F rench republic ; and on April 30th, 1803, Bona-




Commerce and Resources o f Louisiana.

4 '3

parte, as first consul, sold it to the United States for about $15,000,000,
and it was taken possession of on the 30th of November. T he popula­
tion of the city did not then exceed 8,056, and of the province but 49,473 ;
42,000 of whom w ere within the present bounds of Louisiana. T h e du­
ties of the custom-house, the year preceding the cession, amounted to
$117,515 ; which would have been greater, but for the corruption of the
officers. T he Rom an Catholic religion was the only one publicly allow­
ed. T he revenues of the city, in 1802, w ere $19,278. T here entered
the Mississippi, this year, 256 vessels; of which 18 w ere public armed
vessels ; of American, 48 ships, 63 brigs, 50 schooners, and 9 sloops ; of
Spanish, 14 ships, 17 brigs, 4 polacres, 64 schooners, and 1 sloop ; of
French, 1 brig. In 1804, N ew O rleans was made a port of entry and
delivery, and the bayou St. John a port of delivery. A city charter was
granted N ew O rleans in 1805. January 10th, 1812, the first steamboat
arrived at the city, from P ittsb u rg h ; having descended in 259 hours.
T he whole southern border of the state, from Pearl river to the Sabine,
consists either of sea-marsh or vast prairies, which occupy about one-fifth
of the surface of the state ; and on the borders of the streams are tim ber­
ed lands. T he tract about the mouths of the Mississippi, for 30 miles, is
one continued swamp, destitute of trees, and covered with a species of
coarse reed, four or five feet high. T he prospect of the country, from the
mast of a ship, is an extended and dreary w aste. Along the whole bor­
der of the G ulf of Mexico, a sea-marsh extends inland, for 20 or 30 miles.
Back of this, the land gradually rises a little, and constitutes the prairies.
A large extent of country is annually overflowed by the Mississippi, and
its outlets. From lat. 32 deg. to 31 deg., the average width of over­
flowed land is 20 m iles; from lat. 31 deg. to the efflux of L a Fourche, the
width is about 40 miles. All the country below the L a Fourche, with
little exception, is overflowed. B y a survey made by order of the govern­
ment of the United States, in 1828, it was found that the river overflowed
an extent of 5,000,000 of acres, a great proportion of which is at present
unfit for cultivation. A part of this is covered by a heavy growth of tim­
ber, and an almost im penetrable growth of cane, and other shrubbery.
This becomes dry on the retiring o f the river to its natural channels, and
has a soil of great fertility, and which might, by labor, be rendered fit for
cultivation. T here are, in some parts, basins or depressions, in w hich
the w ater rem ains until it is evaporated, or absorbed by the earth. T hese,
by draining, mig t constitute rice-fields. T he sea-marsh is partially
overflowed by the tides, and especially when driven in by the equinoxial
gales. In the alluvial territory, are small bodies of prairie lands, slightly
elevated, without tim ber, and of great fertility. More extended prairies
constitute a large portion of the state. T he pine woods, which are ex­
tensive, have generally a rolling surface, and a poor soil. T he g reater
part of the prairies has a second rate so il; but some parts of those of
Opelousas, and particularly of Attakapas, have great fertility, and feed
extensive herds of cattle. More earth is deposited by the Mississippi in
its overflow on its immedate m argin, than further back ; and therefore the
land is higher adjoining the river, than in the rear of its banks. This
alluvial margin, of a breadth from 400 yards to one and a half miles, is a
rich so il; and, to prevent the river from inundating the valuable tract in
the rear, and w hich could not be drained, an artificial em bankment is
raised on the m argin of the river, called the Levee. On the east side of




414

Commerce and Resources o f Louisiana.

the river, this em bankm ent commences 60 miles above N ew Orleans, and
extends down the river more than 120 miles. On the west shore, it com­
mences at Point Coupee, 172 miles above N ew Orleans. Along this
portion of the river, its sides present many beautiful and finely cultivated
plantations, and a continued succession of pleasant residences. The
country betw een the Mississippi, Ibberville, and P earl rivers, in its south­
ern parts, is generally level, and highly productive in cotton, sugar, rice,
Indian corn, and indigo. T he northern part has an undulating surface,
and has a heavy natural growth of white, red, and yellow oak, hickory,
black walnut, sassafras, magnolia, and poplar. In the northwest part,
Red river, after entering the state by a single channel, and flowing about
MO mites, spreads out into a great number of channels, forming many
lakes, islands, and swamps, over a space of 50 miles long, and 6 broad.
H ere the fallen tim ber, floated down by the stream, has collected, and
formed the celebrated raft, which formerly extended 160 miles, obstruct­
ing the navigation of the river. Most of it has been removed by order
of the general government, and the rem ainder will, ere long, be cleared
away, opening this fine river to an extensive steamboat navigation. The
bottoms on this river are from one to ten miles wide, and are of great fer­
tility, with a natural growth of willow, cotton-wood, honey-locust, papaw,
and buckeye. On the rich uplands grow elm, ash, hickory, mulberry,
black walnut, with a profusion of grape-vines. On the less fertile and
sandy uplands of the state, are white pitch and yellow pines, and various
kinds of oak. T he lower courses of Red river have been denominated
the paradise of cotton-planters.
T he staple productions of this state are cotton, sugar, and rice. Sugar­
cane grows chiefly on the shores of the gulf, and the bayous Teche, La
Fourche, and Plaquem ine, and in some parts of Attakapas, south o f 31
degrees north lalitude. No cultivation yields a richer harvest, though the
labor of the hands is severe. T here is a vast amount of sugar lands not
brought into cultivation. T he quantity of land adapted to sugar has been
computed at 250,000 acres ; of rice, at 250,000 a c re s ; and of cotton, at
2,400,000. Rice is principally confined to the banks of the Mississippi,
w here irrigation is easy.
T here w ere in this state, in 1840, 98,888 horses and mules, 381,248
neat cattle, 98,072 sheep, 323,220 sw in e; poultry was raised to the value
o f 8283,559. T here rvere produced 60 bushels of w heat, 1,812 of rye,
5,952,912 of Indian corn, 107,353 of oats, 834,341 of potatoes, 119,824
pounds of tobacco, 3,604,534 of rice, 152,555,368 of cotton, 119,947,720
o f sugar, 24,651 tons of hay, 49,283 pounds of wool, 1,012 of wax. The
products of the dairy were valued at $153,069 ; of the orchard, at $11,769 ;
o f lumber, at $66,100. T here w ere made 2,884 gallons of wine, and
2,233 barrels of tar, pitch, or turpentine.
T he climate is mild, though the w inters are more severe than in the
same latitude on the A tlantic coast. T he summers in the wet and
m arshy parts are unhealthy, and N ew Orleans has been frequently visited
by the yellow fever. But a considerable portion of the state is healthy.
T he Mississippi river divides the state from Mississippi for a course of
450 miles, and enters the state wholly, 350 miles from its mouth, by the
course of the channel of the river, and divides into several branches or
outlets; which, diverging from the main river, wind their w ay slowly to
the G ulf of Mexico, carrying off its surplus w aters in times of flood, and
dividing the southern part of the state into a number of large islands.




Commerce and Resources o f Louisiana.

415

T he Atchafalaya, called here the Chaffalio, leaves the Mississippi on the
west side, a little below the mouth of R ed river, and is supposed to carry
off as much w ater as Red river brings in ; and, inclining to the E . of S.,
it enters Atchafalaya bay-, in the G ulf of Mexico. T he outlet Plaquemine
leaves the Mississippi 128 miles below the outlet of Atchafalaya, with
which the main stream at length unites. Thirty-one miles below the
Plaquemine, and 81 above N ew Orleans, is the outlet of L a Fourche,
which communicates with the G ulf of Mexico. Below the L a Fourche,
numerous other smaller streams leave the Mississippi, at various points.
On the east side of the Mississippi, the principal outlet from that river is
the Ibberville, which passes to the G ulf of Mexico through lakes Maurepas, Pontchartrain, and Borgne. This outlet on the east, and Atchafa­
laya on the west, bound w hat is denominated the D elta of the Mississippi.
The Mississippi is navigable for vessels of any size, though the bar at its
mouth has on it but 16 or 17 feet of water. Red river crosses the state
in a southeasterly direction, and enters the Mississippi 240 miles above
N ew Orleans. W ashita river runs in a southerly direction, and enters
Red river a little above its entrance into the Mississippi. T he other
rivers are Black, Tensaw , Sabine, Calcasieu, M ermentau, Vermillion,
Teche, P earl, Amite, and Ibberville. T he largest lakes are Pontchar­
train, Maurepas, Borgne, Chetimaches, M ermentau, Calcasieu, and
Sabine.
T he vast trade of the valley of the Mississippi centres at N ew Orleans
— a valley which, for its extent and fertility, has not its like in the world.
The exports of this state amounted, in 1810, to $34,236,936; but these
exports extensively belong to the great and fertile states of the great val­
ley. Its imports w ere $10,673,190.
T he following table, exhibiting the value of the exports and imports of
Louisiana, we have compiled with care, from the reports of the secretary
of the treasury, on commerce and navigation. It shows the progress of
the commerce of Louisiana, from October 1st, 1820, to the present
time.
Years.
1821,.......
1822,.......
1823,.......
1824,.......
1825,.......
182G,.......
1827,.......
1828,.......
1829,........
1830,.......
1831,.......
1832,.......

Imports.
$3,379,717
3,817,238
125,770
4,539.769
4,290,034
4,167.521
4.531,645
6,217,881
6,857,209
7,599,083
9,766,693
8,871,653

Exports.
$7,272,172
7,978,645
7,779,072
7,928,820
12,582,924
10,2=4,380
11,728,997
11,947,400
12,3=6.060
15,488,692
16,761,989
16,530,930

Y ears.
1833,.......
1834,.......
1835,.......
1836,.......
18.37,.......
1P3S,.......
1839,.......
1840,.......
1841,.......
18 42,.......
1843,*....

Imports.
$9,590,505
13,781,809
17,519,841
15,117,649
14,020,012
9,496,808
12,044,942
10,673,190
10,256.350
8,033,590
8,170,015

Exports.
$18,941,373
26,557,524
36,270,823
37,179,828
35,338,697
31,502,248
33.181,167
34,236,936
34.3C7,483
28,404,149
26,653,924

In 1840, there w ere 24 commercial, and 381 commission houses in
Louisiana, engaged in foreign trade, with a capital of $16,770,000 ; 2,465
retail stores, with a capital of $14,301,024; 597 persons in the lumber
trade, with a capital of 200,045 ; 3 persons employed in internal trans­
portation, xvith 291 butchers, packers, & c., employing a capital of
$144,523.




* For nine months, ending 30th of June, 1843.

Commerce and Resources o f Louisiana.

416

T he exports ot N ew O rleans consist chiefly of cotton, tobacco, sugar,
molasses, flour, pork, bacon, lard, beef, lead, whiskey, corn, &c. The
following table shows the quantity of cotton exported from N ew Orleans,
to the different ports in the United States and Europe, for the last five
years, commencing on the 1st of Septem ber, 1839, and ending on the
31st of August in each year :—*
C otton— B ales .

Whither exported.
Liverpool,.......................
London,..........................
Glasgow and Greenock,
Cowes, Falmouth, &c.,.
Corkj Belfast, &c.,.......
H avre,............................
Bordeaux,......................
Marseilles,......................
Nantz, Cette, & Rouen,
Amsterdam,....................
Rotterdam and Ghent,..
Bremen,..........................
Antwerp, &c.,................
Hamburg,......................
Gottenburg,....................
Spain and Gibraltar......
W est Indies,..................
Genoa, Trieste, & c.,....
China,.............................
Other foreign ports,......
New Y ork,....................
Boston,...........................
Providence, R. I .,.........
Philadelphia,..................
Baltimore,......................
Portsmouth,...................
Other coastwise ports,..
Western States,.............
Total,..................

1843-44. 1842-43. 1841-42. 1840-41. 1839-40,
488,817
518
21,265
14,893
2,182
107,973
1,418
7,462
3,127
1,360
512
2,770
8,499
3,156
402
33,151
19,704
1,208
82,814
72,400
211
6,919
4,698
4,136
3 280
2,500
895,375

624,681
61
35,831
15.939
2,926
159,658
2,861
9.982
8,374
2,593
2,17.3
13,303
17,693
13,664
114
401
21,177
17,662
4,303
1,342
48,036
73,891
674
3,253
3,278

393,990
38
15,574
10,740
1,108
161,103
2,247
16,992
2,930
584
2,907
6,369
5,209
5,678
286
78
12,818
10,610

396,010
304
20,415
9,183
4,393
157,277
2,807
21,933
1,914
1,706
2,264
2,983
2,793
561
19,002
16,801

459,943
113
26,603
13,560
4,549
206,311
6,581
21,989
5,609
3,688
709
1,084
7,377
6,846
2,994
1,508
30,594
25,652

90
55,930
81,626
3,132
5,721
4,832
9,025
581

1,044
46,354
54,042
1,811
6,195
3,045
5,099
6,020

2,000

174
31,215
54,062
1,910
2,846
1,703
2,658
3.716
1,722

1,088,870

749,267

821,288

949,320

.3,000

T he quantity of cotton exported as above, during the five years, (from
1839 to 1844,) was distributed as follows :—
C otton — B ales .

r Whither exported.
Great Britain..................
France,...........................
North of Europe,...........
S. of Europe, and China,
Coastwise,.....................
Total,..................

1843-44. 1842-43. 1841-42. 1840-41. 1839-40.
527,675
119,980
17,907
52,855
176,958
895,375

679,438
180,875
50,8-2
43,543
134,132

421,456
132,272
21,207
23,506
99,832

430,310
183,931
9,836
36,364
169,847

504,768
240,490
23,742
57,754
122,566

1,088,870

749,267

821,288

949,320

T he exports of tobacco, during the same years, (1839 to 1844,) were
as follows :— (See next page.)
* The New Orleans Commercial Intelligencer, and Merchants’ Transcript, issued their
customary annual statement of the commerce of New Orleans on the 1st of September,
1844. From that statement, which is prepared with great care, and general accuracy, we
derive most of the tabul-r statements in this article.




Commerce and Resources o f Louisiana,

417

T OBACCO— H hds.

Whither exported.
Liverpool,.......................
London,..........................
Glasgow and Greenock,
Cowes, Falmouth, &c.,.
Cork, Belfast, &c.,.......
H avre,............................
Bordeaux,.......................
Marseilles,......................
Nantz, Cette, & Rouen,
Amsterdam,...................
Rotterdam and Ghent,.
Bremen,..........................
Antwerp, &c.,................
Hamburg,.......................
Gottenburg,....................
Spain and G ibraltar,....
West Indies,..................
Genoa, Trieste, & c.,__
China,.............................
Other foreign ports,......
New York,.....................
Boston,...........................
Providence, R. I.,.........
Philadelphia,..................
Baltimore,......................
Portsmouth,....................
Other coastwise ports,..
Western States,.............
Total,..................

1 8 4 3 -4 4 .
8,808
8,291

1842-43, .
6,788
9,851

1 8 4 1 -4 2 .
6,930
7,212

1 8 4 0 -4 1 . 1 8 3 9 -4 0 .
5,252
3.827
8,732
4,320

5,424

10,798

6,827

6,681

992

4,846
1,156
5,102

4,648
2,332
4,665

4,037
1,004
1,933

4,224
814
1,774

3,655
1,107
1,844

3,775
917
9,602
2,178
2,303
734
10,681
1,601
1,556

2,700
2,933
7,888
5,657
1,477
963
4,496
1,063
1,760

1,138
1,882
8,997
3,690
3,401
946
7,204
981
550

4,012
1,219
1,064
1,559
4,142
1,020
2

2,464
1,090
1,465
745
3,843
1,013
44

1,177
6,960
2,585

217
10,533
3,650

516
7,090
2,351

667
7,466
3,109

343
8,132
2,888

1,286
1,167

2,845
2,433

936
208

2,126
517

1,963
219

1,100

2,194

225

287

482

81,249

89,891

68,058

51,667

40,436

T he exports of tobacco, as above, w ere distributed as follows :—
T obacco— H hes .

Whi'her exported.
Great Britain,.................
France,...........................
North of Europe,..........
S. of Europe, and China,
Coastwise,......................
Total,..................

1 8 4 3 -4 4 .
22,523
11,104
20,175
14,349
13,098

1 8 4 2 -4 3 .
27,437
11,645
21,618
7,536
21,655

1 8 4 1 -4 2 .
20,969
6,974
20,252
9,053
10,810

81,249

89,891

68,058

1 8 4 0 -4 1 . 1839-40,
20.665
9,139
6,606
6,812
8,040
6.005
5,645
5,002
13,505
13,684
54,667

40,436

T he following table shows the comparative arrivals, exports, and stocks
of cotton and tobacco, at N ew Orleans, for ten years, from 1st of Septem ­
ber to 31st of August, in each year :—
Years.
1843-44...........
1842-43,.......... ....
1841-42,..........
1840-41,..........
1839-40,..........
1838-39,..........
1837-38,..........
1836-37,..........
1835-36,..........
1834-35,..........

C otton— B ales .

Arrivals.
910,854
1,083,642
740,155
822,870
954,445
578,514
742,720
605,813
495,442
530,172

Exports.
895,375
1,088,870
749,267
821,228
949,320
579,179
738,313
588,969
490,495
536,991

T obacco— H iids. ’

Stocks.
12,934
4,700
4,428
14,490
17,867
10,308
9,570
20,678
4,586
3,649

Arrivals.
82,435
92,509
67,555
53,170
43,827
28,153
37,588
28,501
50,555
35,059

Exports.
81,249
89,890
68,058
54,667
40,436
30,780
35,555
35,821
43,028
33,801

Stocks.
4,859
4,873
2,255
2,758
4,409
1,294
3,834
3,857
10,456
1,821

T he exports of sugar, in each of the five years, (from 1839 to 1844,)
w ere—




418

Commerce and Resources o f Louisiana.
1843-44.

Whither exported.
New York,................................
Philadelphia,............................
Charleston, S. C.,.....................
Savannah,..................................
Providence and Bristol, R. I .,.
Boston,......................................
Baltimore,..................................
Norfolk,......................................
Richmond and Petersburg, Va.,
Alexandria, 1). C.,....................
Mobile........................................
Apalachicola and Pensacola,...
Other ports................................
Total,............................

1842-43.

Hhcls.

Bbls.

Ilhds.

11,422
8,478
1,502
483

217
697

31,549
14,474
1,090
240

217
5,492
562
1,590
280
3,257
1,070
42
34,395

Bbls.

17
548
22

2,814
8,660
610
2,337
592
3,011
565
102

1,544

60,044

42
1

708
100

1841-42.
Ilhds.

13,620
4,170
014
313

Bbls,

405
438
2

375
306
100

212
6,504
364
1,419
539
759
517
303

102
548
335

2,280

29,334

2,232

663
28

58
268
56

E xports of S ugar—Continued.

1840-41.
Whither exported.
New Y o rk ,...................................
Philadelphia,.................................
Charleston, Si C.,.........................
Savannah,......................................
Providence and Bristol, R. I......
Boston,...........................................
Baltimore,......................................
Norfolk,.........................................
Richmond and Petersburgh, Va.,.
Alexandria, D. C.,.....................
Mobile,...........................................
Apalachicola and Pensacola,......
Other ports,....................................
Total,...............................

1839-40.

Ilhds.

Bbls.

Ilhds.

18,759
6,726
1,716
357
422
7,588
664
1,520
374
1,530
566
304

822
431
1
39
3
114
48
48
64
2
445
782
1,293

18,556
8,622
1,513
722
20
951
8,403
819
1,923
372
2,214
947
234

Bbls.

315
1,567
1,880

40,526

4,092

45,296

6,595

598
134
88
12
327
942
553
179

T he exports of molasses, in each of the five 3'ears, (from 1839 to 1844,)
w ere—
1843-44.

1842-43.

1841-42.

Whither exported.
New York,................................
Philadelphia,.............................
Charleston, S. C.,......................
Savannah, ..............................
Providence and Bristol, R. I., .
Boston,.......................................
Baltimore,..................................
Norfolk,......................................
Richmond and Petersburg, Va.,
Alexandria, D. C.,....................
Mobile,......................................
Apalachicola and Pensacola,...
Other ports,...............................

Hhds.

Bbls.

Ilhds.

Bbls.

Hhds.

1,882
354

15,744
4,214
5,467
1,254

7,285
1,288
63

6,377
882
270

475

55
1,001

586

5,231
2,039
1,581
350
2,836
2,440
750

576
976
1,162

800

28,030
9,091
3,986
1,640
106
4,809
8,459
947
2,316
575
313
2,260
1,369

T otal,............................

3,409

42,962 12,366

66,901

9,314

112

216

345
411
826
11

192

Bbls.

23,525
2,lf9
3,311
886
347
3,208
11,842
1,242
2,843
934
4,190
1,290
1,378
57,165

E xports of M olasses— Continued.

1840-41.
Whither exported.
New York,...................................,...........
Philadelphia,.................................. ..........
Charleston, S. C.,......................... ...........




Hhds.
5,496
1,002
550

Bbls.
17,081
4,694
5,216

1839-40.
Hhds.
3,511
962

Bbls.*
15,105
3,078
2,309

Commerce and Resources o f Louisiana.

419

E xports of M olasses— Continued.

1840-41.
Whither exported.
Savannah,.................................................
Providence and Bristol, R. I.,................
Boston,......................................................
Baltimore,................................................
Norfolk,.....................................................
Richmond and Petersburg, Va.,.......
Alexandria, I). C.,...................................
Mobile,......................................................
Apalachicola and Pensacola,.................
Other port3,...............................................
Total,..........................................

1839-40.

1,424

Bbls.
1,008
103
2,756
7,275
539
716
153
4,778
1,124
2,661

38
51
1,942

Bbls.
1,309
251
4,451
5,850
971
1,694
98
3,867
1,710
1,704

11,284

48,104

8,937

42,397

llhds.
208
496
1,582
350
91
85

Hilda.
117
99
811
1,267
50
89

W e give, below, the exports of flour, pork, bacon, lard, beef, lead, and
corn, for the two last years. T his table includes the exports to Mobile,
via the Pontchartrain railro ad ; but the vessels reported in the clearances
as having provisions and merchandise, are not included.
E xports of F lour , P ork , B acon, L ard, B eef , L ead, W hiskey , and C orn , for two years ,
from 1 st S eptem ber to 31 st A ugust .

1843-44.
Destination.
New York,............
Boston,....................
Philadelphia,..........
Baltimore,...............
Charleston..............
Oth. coastwise p’ts,
Cuba,........ ..............
Other foreign ports,

Beef.
Flour. Fork. Bacon. Lard.
Bbls.
Bbls.
Hhds. Kegs.
Bbls.
48,323 219,756 5,104 324,776 9,112
109,410
1,742
216,773
5,871
63,653
13,702 1,718 30,493 1,042
11.939 1,217 25,831
383
8.924
1,305
2,255 3,986
637
9,229 10,424 13,327 2,640
48.718
29,314
504 100,764
509
397
108,679 26.491
157 151,382 15,192

Lead. Whiskey.
Bbls.
Pigs.
264,834 2,216
111.614
J 38
53,901
730
12,561
631
4,332
2,455 33,536
154,955

Corn.
Sacks.
44.367
27,536
2,775
60,278
15,809
53,516

Total,............. 300,082 393,179 24,852 872,270 35,386 600,320 42,127 204,281
Destination.
New York,.............
Boston,....................
Philadelphia,..........
Baltimore,...............
Charleston,.............
Oth. coastwise p’ts,
Cuba,.......................
Other foreign ports,

Flour.
Bbls.
101,336
81,955
3,540
67
1,494
40,717
26,747
82,916

1 8 4 2 -4 3 .
Beef.
Pork. Bacon. Lard.
Bbls. Hhds. Kegs.
Bbls.
69,275 6,669 203,057 1,140
561
60,278 1,359 115,475
8.953
4,794 1,363
6,881 1,343 12,630
3,441
137 2,986
30
6,705
6,974 6,678
638
255 88,607
150
550
10,885 2,810 298,861 1,905

Total,................ 338,772 159,774 23,383 737,729

Lead. Wluskey. Corn.
Bbls. Sacks.
Pigs.
225,077 5,402 160,707
216 166,599
112.670
534
2,873
55,954
12,765 2,573
2,613 20,507
20,663 128,266
510
50
135,556
135 193,314

4,424 542,172 32,136 672,316

T he arrival of ships, barks, brigs, schooners, and steamboats, at N ew
Orleans, for five years, from September 1st, to 31st of October, has been
as follows :—
Years.
18391840184118421843-

40.......
41,...........
42,...........
43.............
44,...........

Ships.
Barks.
560
177
595 191
599 198
579 283
665 256

Brigs.
435
325
279
532
376

Schrs.
682
532
327
524
389

Total.
1,846
1,643
1,403
2,018
1,686

Steamb'ts.
1,937
2,181
2,132
2,324
2,570

T he following table shows the receipts of the principal articles of pro­




/
420

Commerce and Resources o f Louisiana.

duce from the interior, into N ew Orleans, during the year ending 31st of
August, 1844, with their estimated yerage, and total value :— *
Articles.
Apples,.............................................. bbls.
Bacon, assorted,...........lihds. and casks
Bacon, assorted,..............
boxes
Bacon hams,.....................lihds. and tcs.
Bacon, in bulk,.................................. lbs.
Bagging,........................................ pieces
Bale rope,......................................... coils
Beans,............................................... bbls.
Butter,.......................... kegs and firkins
Butter,............................................... bbls.
Beeswax,.......................................... bbls.
Beeswax,............................................ lbs.
Beef,..................................................bbls.
Beef,................................................ hhds.
Beef, dried,......................................... lbs.
Buffalo robes,.................................packs
Cotton,............................................. bales
Corn meal,................
bbls.
Corn, in ear,.............................................
Corn, shelled,..................................sacks
Cheese,.......................„ .................. casks
Candles,.......................................... boxes
C ider,................................................bbls.
Coal, western,........ .................................
Dried apples and peaches,.....................
Feathers,........................................... bags
Flaxseed,............................................ tcs.
Flour,................................................bbls.
F urs,............. hhds., bundles, and boxes
H em p,......................................... bundles
Hides,.......................................................
H ay,..........................................................
Iron, pig,........................................... tons
L a rd ,................................................hhds.
Lard,..................................................bbls.
Lard,................................................. kegs
Leather,....................................... bundles
Lime, western,.................................bbls.
L ead,................................................. pigs
Lead, bar,.....................kegs and boxes
Molasses, (estimated crop,......... gallons
O ats,................................................. bbls.
Onions,..... .
Oil, linseed,...
Oil, castor,__
Oil, lard,.........
Peach brandy,.
Potatoes,.........
Pork,...............
P o rk ,............................................... hhds.
Pork, in bulk,..................................... lbs.
Porter and ale,.................................bbls.
Packing yarn,...................................reels
Skins, deer,..................................... packs
Skins, bear,..............................................
Shot,..................................................kegs

Amount.
43,969
19,563
556
19,070
1,203,821
100,216
83,684
7,619
18,831
500
1,909
510
49,363
480
55,610
4,901
910,854
3,769
165,354
360,052
12,583
3913
1,419
227,788
2,001
4,568
4,273
502,507
33,062
76,490
35,132
100
212
119,717
373,341
1,785
3,767
639,269
851
5,000,000
130,432
6,443
2,260
2,757
2,647
49
56,587
412,928
8,800
7,792,000
604
1,164
1,939
69
4,714

Average.
$ 2 00
25 00
14 00
30 00
3
10
6 00
3 50
4 00
12 00
40 00
27
4 50
33 00
6
40 00
32 00
3 00
50
90
12 00
3 00
3 50
45
2 50
15 00
7 50
4 00
11
1
2
25
45
11
2
18
1
2
12
20
2
30
32
20
13
2
6
20
5
4
25
15
13

00
25
00
00
00
00
25
00
00
15
00
00
75
00
00
00
00
00
00
50
00
H
00
00
00
00
00

Value.
$87,933
479',075
7,784
572,100
36,114
1.002,160
502,104
26,666
75,324
6,000
76,360
135
222,133
15,840
3,336
217,800
29,147,328
11,307
82,677
324,468
150,996
10,239
4,961
102,492
5.002
67,860
32,047
2,018,028
8110.000
418,682
95,512
70,264
2,500
9,540
1,316,887
840,017
32,130
3,767
1,374,428
10,212
1,000,000
97,824
12,866
67,800
88,224
52,940
637
113,174
2,684,032
176,005
243,720
3,020
4,656
48,475
1,035
61,282

* In the Meichants’ Magazine, Vol. V., 1841, page 475 to 478, we gave a similar table foi each of the ten years, from 1832 to 1841; and in Vol. VII., page 391, a similar
statement for 1842. In Vol. IX., page 569, , also a similar statement for 1842-43.




Commerce and Resources o f Louisiana.
Articles.
Soap,.....................
Staves,.................. ........................... No.
Sugar, (estimated crop,)............... hhds.
Spanish moss,.......
Tallow,............................................ bbls.
Tobacco, leaf,.......
Tobacco, strips,.,..
Tobacco, chewing,.........kegs and boxes
Tobacco,...............
Twine,...................,. .bundles and boxes
Vinegar,.................
W hiskey,...............
Window glass,......
Wheat,..................
Other various articles, estimated at...........
T..tal value,..................................
Total in 1842-43,.....................
Total iii 1841-42,.....................

Amount.

7,399
1.362,000
140.316
2,347
7,323
70,435
12,000
7,695
4,771
2,099
318
86,947
2,066
86,014

421

Average.

$3
25
60
6
13
40
100
12
2
5
2
7
4
2

00
00
00
00
50
00
00
00
50
00
50
50
00
25

Value.

$22,197
3,405,000
8,418,960
14.622
98,310
2,817,400
1,200,000
92,540
11,927
10,495
795
652,102
8,264
193,531
4,000,000
$65,863,866
53,728.054
45,716,045

T he manufactures of Louisiana are less considerable. Home-made,
or family manufactures, amounted to $65,190 ; two cotton factories, with
706 spindles, employed 23 persons, producing articles to the amount of
$18,900, with a capital of $22,000 ; six furnaces produced 1,400 tons of
cast iron, and two forges produced 1,366 tons of b ar iron, employing 145
persons, and a capital of $357,000; 25 tanneries employed 88 persons,
and a capital of $132,025; seven other manufactories of leather, as sad­
dleries, i c . , produced articles to the amount of $108,500, with a capital
of $89,550; one pottery employed 18 persons, producing articles to the
amount of $1,000, with a capital of $3,000 ; five sugar refineries pro­
duced to the amount of $770,000 ; 101 persons produced confectionary to
the amount of $20,000; m achinery was produced to the amount of
$5,000, and hardw are and cutlery to the amount of $30,000 ; 51 persons
produced carriages and wagons to the amount of $23,350, employing a
capital of $15,780 ; mills of various kinds produced articles to the amount
of $706,785, employing 972 persons, and a capital of $1,870,795; ves­
sels w ere built to the amount o f $80,500; 129 persons manufactured fur­
niture to the amount of $2,300, with a capital of $576,050; five distil­
leries produced 285,520 gallons, and one brew ery 2,400 gallons, employ­
ing 27 persons, and a capital of $110,000 ; 75 persons manufactured
2,202,200 pounds of soap, 3,500,030 pounds of tallow candles, and 4,000
pounds of wax or sperm aceti candles, with a capital of $ 1 15,500; 248
brick or stone houses, and 619 wooden houses, w ere built by 1,484 per­
sons, and cost $2,736,944 ; 35 printing-offices, five binderies, 11 daily, 21
weekly, and two semi-weekly newspapers, and three periodicals, employ­
ed 392 persons, and a capital of $193,700. T he total amount of capital
employed in manufactures, was $6,430,699.
At the commencement of 1840, the state had 16 banks, with 31 branch­
es, with an aggregate capital of $41,736,768, and a circulation of
$4,345,533. In 1842, the state debt amounted to $20,820,889. T h e
public debt consists almost entirely of state bonds, issued to the different
banks, which bonds have been sold in Europe ; and the proceeds consti­
tute the capitals of the banks, which are loaned to the stockholders on
mortgages of their landed property. T hese mortgages are estimated to
be worth $25,400,000.
Several works of internal improvement have been undertaken. Pont-




422

Commerce and Resources o f Louisiana.

chartrain railroad extends from N ew O rleans four and a half miles, to
Lake Pontcbartrain, and cost originally 8200,000; and, with its improve­
ments, 8500,000. W est Feliciana railroad extends from St. Francisville,
on Mississippi river, tw enty miles, to Woodville, Miss. Orleans-street
railroad, through Orleans-street, is one and a half miles long, and connects
N ew Orleans with the bayou St. Johns, and cost 812,000. N ew Orleans
and Carrolton railroad extends from N ew Orleans six and a h alf miles, to
Carrolton, passing through Lafayette. It has city branches, making its
whole length eleven and a half miles. Various other railroads and ca­
nals have been projected, and some work has been done upon them, but
they are at present suspended.
N ew Orleans,* the com mercial capital of the state, is situated on the
left bank of the M ississippi; which, by a singular bend, causes the city
to be on its N . W . side, facing the S. E . T he city is built on an inclined
plane, descending gently from the river towards the swamp in the r e a r ;
so that, when the Mississippi is full, the streets are three or four feet below
the surface of the river. T o prevent inundation, an artificial em bank­
ment, called the Levee, has been raised at a great expense, extending from
F ort Plaquemine, 43 miles below the city, to 120 miles above it, w hich is
15 feet wide, and 4 feet high. D irectly in front of the city, it affords a
very pleasant w alk. T he position of N ew O rleans, as a vast commer­
cial emporium, is unrivalled; for the Mississippi, with its numerous tribu­
taries, brings to it for a m arket the products of 20,000 miles of navigation,
and the immense resources of the great valley are yet but partially devel­
oped. T he city proper is in the form of a parallelogram , running along
the river 1,320 yards, and extending back 700 yards. T his portion of the
city is traversed by 22 streets, forming 84 principal, and 14 minor squares.
T he whole extent of the city, including its incorporated fauxbourgs, is not
less than five miles parallel with the river, and it extends perpendicularly
to it, from a quarter to three-quarters of a mile ; and to the bayou St.
John, two miles. T he houses are principally of brick, except some of
the ancient and dilapidated dwellings in the heart of the city, and some
new ones in the outskirts. T he modern buildings, particularly in the up­
per parts of the city, or Second Municipality, are generally three and fourstories high, with elegant and substantial granite fronts. Many of the
houses in the outer parts are surrounded with gardens, and ornamented
w ith orange-trees. T he view of the city from the river, in ascending or
descending, is beautiful; and on entering it, the stranger finds it difficult
to believe that he lias arrived at an A m erican city. T his rem ark applies
especially to the central and low er parts, where the older buildings are
ancient, and of foreign construction ; where the manners, customs, and
language, are so various; the population being very nearly equally made
up of Americans, French, Creoles, and Spaniards, with a mixture of al­
most every nation on the globe. D uring the business season, extending
from the first of November until July, the Levee, in its whole extent, is
crowded with vessels of all sizes, from all quarters of the world ; with
hundreds of large and splendid steamboats, and numerous barges and flatboats, &c. Nothing can present a more busy, bustling scene, than the
levee at this tim e ; the loading and unloading of vessels and steamboats,
with 1,500 drays transporting tobacco, cotton, sugar, and the various and
immense produce of the far west. In 1836, the legislature passed an act




* Harper’s edition of M ’Culloch.

Commerce and Resources o f Louisiana.

423

dividing the city into three municipalities, ranking them according to their
population. T he first includes the city proper, extending, with that width,
from the river back to L ake Pontchartrain, and occupying the centre ;
the second adjoining it above, and the third below, both extending from
the river to the lake. E ach municipality has a distinct council for the
m anagem ent of its internal affairs, which do not encroach on the general
government.
N ew O rleans is often familiarly called the Crescent city, from its form ;
for, though the streets are straight, those w hich follow the river have two
turns at large angles, giving it something of this form. T he river, oppo­
site to the city, is half a mile wide, and from 100 to 160 feet deep, and it
preserves the same width to near its entrance into the G ulf of Mexico.
On the b ar at its mouth it has a depth of from 13 1-2 to 16 feet of w ater,
with a soft muddy bottom. L arge and powerful steam tow-boats, some
of which will tow six large vessels, are constantly employed, to facilitate
the passage of vessels to and from the gulf. A canal, four and a h alf
miles long, leads from a basin within the city to Lake Pontchartrain,
through the bayou St. John. Through this canal, the trade of the coun­
try bordering on L ake Pontchartrain and Borgne, and all the coast of the
north part of the G ulf of Mexico, as far as Florida, comes to the city, and
a considerable fleet of sloops is often seen in the basin. A railroad, also,
four and a half miles long, connects the city with L ake Pontchartrain,
which will probably supersede the use of the canal. A harbor is formed
in the lake, at the term ination of the railroad, and a considerable village
is there springing up. T he facilities for trade are great, and well im­
proved. T he exports, including the foreign and coasting trade, are not
less than $40,000,000, which are greater than those of any other city
in the United S ta te s; but its imports are vastly less. Much of the
w estern country, which exports its produce by the w ay of N ew Orleans,
imports its goods from N ew York. In 1842,740,267 bales of cotton w ere
exported to foreign ports, and coastwise. N ew O rleans is growing rapid­
ly, but will never probably equal N ew York ; though it is very likely to
become the second city in the Union. T he licensed and enrolled tonnage,
in 1840, was 126,613. Its unhealthiness is against it, though this has
often been exaggerated ; and the same is true of its morals. It is said to
be an orderly and peaceable city, and its inhabitants are distinguished for
their politeness, hospitality, and kindness to the distressed.
According to the census of 1840, there were 8 commercial, and 375
commission houses in foreign trade, with a capital of $16,490,000 ; 1,881
retail stores, with a capital of $11,018,225 ; 32 lumber-yards, with a capi­
tal of $67,800 ; 6 furnaces, with a capital of $355,000 ; hardw are was
manufactured to the amount of $30,000 ; one cotton factory, with 700
spindles, employed a capital of $20,000; tobacco manufactures employed
a capital of $60,000 ; 1 tannery had a capital of $50,000 ; 2 distilleries
employed a capital of $56,000 ; 3 sugar refineries produced to the amount
of $700,000 ; 3 steam saw-mills had a capital of $175,000 ; 18 printingoffices, 5 binderies, 9 daily, 6 weekly, and 2 semi-weekly newspapers,
employed a capital of $162,200; 201 brick or stone houses, and 210
wooden houses, w ere built, at a cost of $2,234,300. T he total capital
employed in manufactures w as $1,774,200. T here w ere 2 colleges,
with 105 students; 10 academies, with 440 students; 25 schools, with
975 scholars.




Banking in the United States.

424

A kt. III.—BAN KING IN T H E U N IT E D ST A T E S.
T h e currency of our country is a subject that has long been a promi­
nent topic of discussion, and it must always exercise an important bearing
upon the prosperity of the nation. It may be considered, indeed, the most
important agent of m ercantile enterprise, being the representative of
value, the standard that regulates the exchange of all kinds of p roperty;
and its solidity and permanence tend to furnish a stimulus to labor, while
its influence circulates throughout the entire circle of the community. It
is well known that among the ancients, articles of various sorts have been
employed as instruments of commerce and exchange ; for example, a spe­
cies of shells was used for this purpose in some parts of the coast of India,
iron was the instrument of commerce among the Spartans, and copper
among the Romans.* Yet, with the commercial nations of modern times,
the use of gold, silver, and copper coin has been adopted, as the repre­
sentative of value, and the medium of exchange. T he benefit and design
of money is obvious. From the various m ercantile operations of men, nu­
merous individuals have different articles to sell, and as the vendor may
not wish any thing from the purchaser in exchange for the things sold,
money is employed as a portable object, of w ell known and standard va­
lue, and a proper medium of exchange. T his money may be stamped
coin, of gold, silver, or copper the two former of which, by the constitu­
tion, are the only legal tender for the payment of debts ; or it may be
bank bills that are as good as coin when they can command it, these bank
bills being the promissory notes of corporations.
P aper money has comprised a considerable portion of the circulating
medium of the country since the year 1690, and its use has come down in
increased amount, and in proportion as business has expanded, to the pre­
sent tim e. D uring our colonial dependence, the paper money that was
then circulated, consisted of w hat w ere denominated bills of credit, issued
by the colonies, which pledged their faith for the ultimate payment of
those bills. T hey were made receivable for debts due to the government,
and also a legal tender for private debts, until it was ultimately prohibited
by act of parliament. T h eir issue was first made by Massachusetts, which
had incurred expenses in an unfortunate expedition against Quebec, then
a colony of France, beyond its means of payment, during the year 1690,
and those bills were subsequently circulated by the other colonies of what
now constitutes the Union. T h ey w ere, however, called in from time to
time, by taxes, and w ere receivable by the governm ent in the paym ent of
those taxes. T he colonial bills thus issued, soon, however, becam e depre­
ciated, and less in value than gold or silver throughout the colonies. Yet
they w ere denominated lawful money, under the valuation of six shillings
for a silver dollar in the N ew E ngland colonies, in N ew York, at eight
shillings, and in Pennsylvania at seven shillings and sixpence, which va­
luation constitutes the basis of the different currencies of those states at
the present time. In consequence of the excessive issues of these bills,
their value rapidly depreciated both in the north and the south. T heir
circulation was in fact increased in 1745, by the colony of Massachusetts,
to the amount of two or three millions of pounds, in order to pay certain




* Smith’s W ealth of Nations.

Banking in the United States.

425

expenses of an expedition against Louisburg, besides other liabilities in ­
curred in the hostile preparations against France ; and this increased issue
occasioned so great a depreciation, that, in the year 1748, the value of
eleven hundred pounds of those bills was only one hundred pounds ster­
ling.* A large amount was likewise issued by North and South Carolina
in consequence of their w ars with the Indians. T he sum of one hundred
and eighty thousand pounds sterling was, moreover, paid by G reat Britain
to the state of Massachusetts, for its expenses in the expedition against
Louisburg, and the colony with that sum redeemed its bills, at the rate
of fifty shillings for each ounce of silver.*
T he occurrence of the Revolution, when the country was laboring un­
der severe pecuniary depression, produced the issue, by the colonies, of
what was denominated “ Continental money.” Bills of credit to the
amount of about three millions of dollars, w ere in 1775 issued by the Co­
lonial Congress, and to this amount an increase was subsequently added.
Although they were made by the colonial legislature a legal tender for the
payment of debts, the refusal to receive them being a forfeiture of the
debt itself, their depreciation was proportioned to the increase of the issues.
Yet it was in 1777, that this depreciation began seriously to be f e lt; and
this was not strange, for two years alter, in 1779, the amount of these bills
in circulation was one hundred and sixty million of dollars, and it would
probably have been increased, had not Congress, during that year, passed
an act limiting its circulation to two hundred millions, an amount that was
issued before its close. At that period it is well known th at the country
was in a depressed state. T he necessary consequence of this excess of
issues was accordingly a large depreciation, and in 1780 they had nearly
ceased to circulate. T he result is obvious. T he quantity in market pre­
vented their redemption at par, and at last, one hundred dollars of bills were
frequently given for one genuine d o lla r; those that were redeemed at all,
being called in at that rate, under the funding system established by the
governm ent.!
T he first national bank established in the country w ent into operation
in December, 1781, under the auspices of “ the President and Directors of
the Bank of North A m erica,” and was created by Congress at the sugges­
tion of Robert Morris, the superintendent of Finance. T h e Bank of
North America was instituted and incorporated by ordinance, under the
articles of confederation. Possessing a capital of four hundred thousand
dollars, it contributed, under the judicious m anagem ent of its first projector
and his associates, to relieve, in the measure w hich its limited resources
would permit, the financial depression of the country. But, notwith­
standing the establishment of this institution, the scarcity of money after
the peace of 1783 becam e so great in consequence of the depressed state
of American commerce, and the w ant of an energetic national govern
ment, that resort was again had to paper money and tender laws by some
of the states ; and, indeed, personal property was sometimes made a ten ­
der in the payment of individual debts, the value of which was appraised
by individuals. T he result of those measures w as to injure rather than to
benefit the condition of things, and to hasten the organization of the con­
stitution, by w hich the states w ere prohibited from issuing bills of credit,
or making any thing but gold and silver a legal tender in the payment of
* Holmes’ Annals.
VO L. X I .— NO. V .




t Pitkin’s Statistics.

34

426

Banking in the United Stales.

debts. T he national government was, however, soon organized, and only
two millions of dollars constituted the banking capital of the nation. This
capital was embraced in the bank of North America, to which allusion
has been made, the bank of N ew York, that was located in the city of
N ew York, and the bank of Massachusetts, in the city of Boston.
T he establishment of a national bank, by national authority, was strongly
recommended by Alexander Hamilton, the secretary of the treasury, in
1790, as necessary for the proper m anagem ent of the finances of the government, and the support of public credit. At this period commenced the
constitutional objections to the establishment of the institution that have
been urged with more or less zeal through successive administrations,
down to the present time. It was opposed on the ground that the govern,
ment was restricted to the exercise only of those powers specified in the
constitution ; that the power to incorporate a bank was not one of them ;
and that the power given to Congress to pass all laws necessary to exe­
cute the specified powers must be confined to all the necessary means
to accomplish the end incident to the nature of the specified powers.
Upon the other side it was contended that incidental as well as yjecified
powers belonged to the governm ent; that where general objects were
stated as w ithin the province of the government, all the usual means ne­
cessary to accomplish those objects, were incidental to th e m ; and that a
bank was a well-known and usual instrument for accomplishing the ob­
jects specified by the constitution. It was, moreover, maintained by the
opponents of the bank, that the pow er to incorporate banking institutions
was not among the enum erated powers, and that to go beyond the speci­
fied powers prescribed by the constitution, was to take possession of a
broad, undefined and dangerous field of jurisdiction. T he bank bill hav­
ing passed the two houses of Congress, it was discussed, so far as its constitutionality was concerned, w ith extraordinary zeal in the executive
cabinet. T he secretary of state and the attorney general considered that
Congress had transcended its p o w ers; but a contrary opinion was main­
tained by the secretary of the treasury. After profound and able debates
by his cabinet, the question was referred to President W ashington, and he
gave it as his deliberate conviction that the power was invested in the
government by the constitution to incorporate a bank, and in conformity
therew ith the bank was established.*
T he advantages that had been experienced by those institutions else­
w here, and the benefits which w ere experienced by the former bank of
N orth America, induced the incorporation of this institution on the 25th
of February, 1794, and it soon w ent into operation. T he capital of the
bank, thus incorporated, was ten millions of dollars, of which eight millions
was to be subscribed by individuals, and two millions by the United States.
Tw o millions of the amount subscribed by individuals was to be paid in
specie, and six millions in six per cent stock of the United States. The
bank was to continue in operation until the fourth of March, 1811, and in
the meantime no other national bank was to be established. In order to
show the advance of its stock, it may be stated that during the period of
its existence, shares w ere sold, making a total profit of $671,000. It has
been alleged, and this from sources entitled to credit, that the institution,
thus established, was beneficial to the community, as it certainly was to




* Kent’s Commentaries, Vol. I. p. 251.

Banking in the United Stales.

427

the stockholders, since it furnished an annual average dividend of eight
and a half per cent.
On the expiration of the charter of the bank in 1811, numerous projects
were agitated for the purpose of its renew al. As early as the spring of
1808, the stockholders had presented a memorial to Congress for that ob­
ject, and the secretary of the treasury, Mr. Gallatin, to whom the matter
had been referred, made a report, during the following year, favorable to
the measure, but without success. Various plans w ere at the same time
proposed for the re-establishment of a bank of the United States, but, in
consequence of the excited state of party feeling, no measures w ere adopt­
ed for this purpose. W ar soon followed, and the state banks, which had at
this period increased to nearly ninety, established in most of the states, and
possessing a capital of more than forty millions of dollars, not only furnish­
ed to the government the greater part of its loans in order to carry on the
war, but aided it essentially in the collection and disbursement of the reve­
nue. Increased issues of paper w ere in consequence required, and the
depression of commerce, consequent on that event, induced the banks south
of N ew England to stop the payment of specie for their bills. A neces­
sary depreciation followed, and the government was unable to procure
loans for the prosecution of the war, excepting upon very disadvantageous
terms.
A second national bank was soon alleged to bo necessary, in order to
relieve the financial em barrassm ent of the country. D uring the session of
Congress of September, 1814, Mr. Dallas, then secretary of the treasury,
submitted ap ian for a national bank, holding such an institution proper for
carrying into execution some of the most important powers vested in Con­
gress, and also useful in promoting the general welfare. In urging the
importance of this m easure, the secretary of the treasury alleged, that its
direct tendency would be to restore and continue an uniform national cur­
rency, declaring, at the same time, that this object could not be effected by
the state banks. T he nation, as has been stated, had been severely la­
boring under the evils of a disordered currency, and it felt disposed to or­
ganize an institution that might, if possible, afford relief and establish the
credit of the country upon a solid foundation.
D uring the w inter of 1816, the last bank of the United States having
been chartered, w ent into operation without much opposition upon consti­
tutional grounds, although some objections w ere urged against minor fea­
tures of the bill, regarding, among other subjects, the amount of capital and
the agency of the government in the m anagem ent of its concerns. T he
capital of the bank was thirty-five millions of dollars, which was divided
into three hundred and fifty thousand shares, each of one hundred dollars.
Seven millions of dollars, or seven thousand shares, were to be subscribed
by the United States, and to be made payable in five per cent stock, which
was redeemable at the pleasure of the government, and the rem ainder by
individuals, companies or corporations, of which seven millions w ere to be
paid in gold and silver, and twenty-one million in the funded debt of the
United States, the funded debt thus subscribed being redeemable at plea­
sure. T he bank was to be continued until the third of March, 1836, and
no other national bank was to be established during that time. T he D i­
rectors consisted of twenty-five, of whom five w ere to be appointed by the
President of the United States and the Senate, and twenty by the indi­
vidual stockholders. A board for the transaction of business was to con-




428

Banking in the United States.

sist of not less than seven directors. T he debts of the bank w ere not to
exceed thirty-five millions of dollars above the deposites, and no loan was
to be made to the government of an amount exceeding five hundred thou­
sand dollars, nor to any state, of an amount exceeding fifty thousand dollars, nor to any foreign prince or state, unless authorized by law ; nor was
any foreigner permitted to be a director. T he directors w ere authorized
to establish offices of discount and deposit in the District of Columbia, and
in other pi ices that they might think proper. T hey w ere to furnish the
heads of the treasury departm ent weekly statements, if such statements
w ere required, of the amount of capital and debts due, money deposited,
notes in circulation, and specie on hand ; the head of the department hav­
ing the right to inspect such general accounts in the books of the bank as
related to such statements, but not the accounts of private individuals with
the bank. No foreigner was permitted to vote for a director, nor was the
corporation allowed to issue any note of a less amount than five dollars.*
In all payments to the general government, the notes of the bank, paya­
ble on demand, w ere made receivable, unless otherwise directed by act
of Congress, and the money of the bank was to be deposited in the bank
or its branches, unless the secretary of the treasury shouli otherwise or­
der, in which case he was required to lay before Congress the reason for
such order. T he bank was, moreover, required to pay a bonus of one
million five hundred thousand dollars to the government, and to distribute
the funds of the government in payment of the public creditors, without
expense, w hen required by the secretary of the treasury. It was also to
perform the duty of commissioner of loans for the several states, when re­
quired by law, and was subjected to pay twelve per cent interest on de­
posits or notes, from the time of refusal, or neglect to pay the same ac­
cording to contract. It was, moreover, made lawful by the charter, for
either house of Congress to inspect the books, and to examine into the
proceedings of the bank, and to report w hether the provisions of the char­
te r had been violated. On the report of such committee, or whenever the
President of the United States should have reason to believe that the char­
ter had been violated, it was made lawful for Congress to direct, or for
the President to order a scire fa c ia s to be issued out of the circuit court
of the district of Pennsylvania, in order to try the question whether the
ch arter had been forfeited. These w ere the general provisions of the last
bank.
T he bank, thus organized, w ent into operation, encountering numerous
difficulties connected with a disordered currency. In order to provide
against any future exigency, a special agent was sent to Europe, by the
directors, and a large amount of specie was imported from abroad. From
the 30th of July, 1817, to D ecem ber, 1818, seven million, three hundred
and eleven thousand, seven hundred and fifty dollars in coin w ere brought
into this country, for the institution, at an expense of five hundred and
twenty-five thousand, two hundred and seventy-seven dollars, including the
(loss of interest and premium. About this period, a scheme of stock-job' bing in the affairs of the bank was entered into by some of the directors,
that was injurious to the interests of the bank as w ell as the public. A
considerable amount of the money of the bank was used in loans to those
individuals, who pledged the very stock purchased with the loan, at one




* Pitkin’s Statistics.

Banking in the United States.

429

hundred and twenty-five dollars per share. In consequence of these specu­
lations, the price of shares during the month of September, 1817, advanced
to one hundred and fifty-sis dollars and a h a lf; but in D ecem ber, 1818,
they fell to one hundred and ten dollars per share, as soon as the
scheme had exploded. Betw een two and three millions of dollars w ere
thus lost to the bank through this m ism anagem ent; so that for a long time
it was unable to make any dividends. But, on a change of its president
and directors, the bank soon recovered from its losses. Betw een three
and four hundred millions of dollars of the public money had been collect­
ed and received in its vaults within a period of sixteen years ; and this
amount had been disbursed and distributed through the country in the va­
rious expenses of the government, in the principal and interest of the pub­
lic debt, government pensions, and other matters of like character. Pos­
sessing twenty-five branches, scattered throughout different parts of the
Union, it had furnished loans to enterprising individuals in the various
branches of commercial and m ercantile pursuits, facilities for foreign and
domestic remittances, and frequent credits in Europe to those engaged in
foreign trade. On the first day of January, 1833, the directors of the
bank, in order to give to the committee of ways and means, appointed by
Congress, information regarding its actual condition, furnished a view of
its state at that time, a condensed abstract from which we here subjoin.*
C laims against the B ank .

The notes in circulation,..........................................................................
The deposits, public and private,...........................................................
The debt to the holders of the funded debt of the United States, for
principal and interest,...........................................................................

§17,459,571 79
13,547,517 95

T otal,............................................................................................

§37,807,322 74

6,723,703 16

I ts R esources.

Specie,........................................................................................................
Notes of state banks,................................................................................
Balances due by state banks,..................................................................
Funds in Europe, and foreign bills ofexchange,..................................
Real estate,................................................................................................
Debts due by individuals on notesdiscounted,.......................................
“
“
on dona, bills of exchange,...........................
Mortgages, &c.,.........................................................................................

§8,951,847
2,291,655
1,596,252
3,190,225
3,036,241
43,626,870
18,069,043
103,330

60
04
08
43
52
32
25
75

Total,.............................................................................................
Claims as above deducted,.......................................................................

§80,865,465 99
37,807,322 74

And there remained, according to this estimate, a surplus of............

§43,058,143 25

In accordance with that estimate, the funds o f individuals as well as those
of the government, continued to be entrusted to its v aults; and the price
of the stock indicated public confidence in its condition and m anagement.
In loans and discounts, by the actual distribution and application of its
capital, the southern and w estern states, that is, the states south and west
of Philadelphia had shared an amount exceeding forty-three millions of
dollars, in May of 1832, which w ere then out. In the states lying upon
the Mississippi and its waters, it had exceeded thirty millions of dollars,
of which, nineteen or twenty w ere in the discount of promissory notes,
and the residue was composed of discounts of bills of exchange, foreign




* Pitkin’s Statistics.

430

Banking in the United States'.

and domestic.* T he executive of the United States, (President Jackson,)
in a message of December, 1832, not only called in question the constitu­
tionality and expediency of the bank, but also its solvency; and his policy
soon showed a disposition to remove the governmental deposits from its
vaults. T his xvas done in 1833. In a very short time, the treasury withdrew the sum of eight million of dollars, within a fraction. The bank
was, in consequence, obliged to strengthen itself, and the state banks fol­
lowed the example, by endeavoring to strengthen themselves, and the
amount of credit upon which the business -of the country was prosecuted,
was suddenly diminished to a great extent. Property declined in value.
Thousands of failures occurred in consequence of the w ant of bank accom­
modations. Thousands maintained their stand only by enormous sacri­
fices. Public works and individual enterprises stood still. T he means of la­
bor w ere cut off from those who most desired it, and a general pecuniary dis­
tress seemed to pervade the country.
W hen it was finally settled that no re-charter of the national bank
was to be obtained, a plan was projected to combine the advantages of
the long established correspondence, name, and m achinery of the former
bank, by incorporating its stock with a n e w institution, under the name of
“ T he President, Directors, and Company of the Bank of the United States
o f Pennsylvania,” which was chartered on the 18th of February, 1836, by
the legislature of that state. T he transfer of the funds of the old institu­
tion was made into the new state bank. More than fifteen per cent xvas
restored to the government, beyond its subscription, at the period of the
tran sfe r; and three and a half per cent had been paid to the same source
every six months, for a long course of years. In consequence of the ad­
vantages to be derived from the new state institution, the stockholders
w ere content to subscribe anew in the state bank ; and it is alleged that
all of them might, at this juncture, have received their investments back,
not only at par, but with a large advance. This the government actually
did; and no power xvas possessed by the government, that was not equally
enjoyed by every individual. Indeed, it xvas alleged by Mr. Nicholas Bid­
dle, (xvho had held the administration of the affairs of the state bank, as
he had done that of the national bank,) as recently as April, 1841, that
the state institution xvas prosperous doxxm to the end of his administration
in March, 1839. T he downfall of the state institution, hoxvever, soon oc­
curred, bringing disaster upon a large circle of stockholders xvho had en­
trusted their funds to its keeping. W ithout entering into a consideration
of the particular causes of that event, it may be rem arked that the period
in which it occurred was a crisis bringing disaster upon the g reater part
of the stocks throughout the country; and it is believed that its fall arose
out of causes xvhich had not acted upon the national bank. From March,
1839, to March, 1841, the stock of the state bank declined from 116, to 17
per c e n t; and this loss fell in considerable part upon those xvho had been
the original stockholders of the bank of the United States, from which this
was created. But that new institution did not rest upon the broad foun­
dation of national aid ; it xvas not backed by the national confidence ; it
had a more local and a narroxv basis, and it is believed by many judicious
and honest minds, that the facts to which xve have alluded, were among
the principal causes of its doxvnfall.




* Webster’s Speeches ; vol. 2, p. 100.

Banking in the United Stales.

431

W e would now direct the attention of our readers to the progress of the
state banks that were created during the existence of the last bank of the
United States. It has been already seen that only three state banks were
in being at the commencement of the government, holding a capital of
about two millions of dollars. On the first of January, 1811, their num ­
ber had increased to eighty-eight, possessing an aggregate capital of
forty-two million, six hundred and ten thousand dollars; the total bank­
ing capital of the country, at that time, being more than fifty-two million of
dollars. From that year to 1815, one hundred and tw enty new state
hanks w ent into operation, with a capital of forty millions of dollars. So
great, indeed, was the increase of the state banks, and so extensive were
the issues, that banking capital was not only increased much beyond the
legitimate demand for it, but a considerable portion of the recently created
banks failed, bringing disaster to a large portion of those persons who had
confided in them. T he secretary of the treasury, Mr. Crawford, esti­
mated the paper circulation of the country, during the year 1816, at ninetynine millions, and the specie circulation at eleven millions, making the
whole, one hundred and ten millions of dollars. But few banks w ere at
that time obliged to make known the exact amount of their circulation.
Loans to the government were effected by some of the banks of the mid­
dle states during the w a r ; and as those were made, for the most part, in
bills, the issues must, through that means, have become greatly increased.
The pressure became so great, in fact, that in September, 1814, those
banks, as well as the banks of the south, w ere obliged to suspend the pay­
ment of specie for their bills.
A deep and general distrust necessarily grew out of the suspension of
specie payments, by the several banks, and the rapid depreciation of their
bills was the natural consequence. T he measure of this depreciation
was, however, different in the different states. Thus, the bills o fth eb an k
of Baltimore w ere at a discount o f twenty per c e n t; those of the banks
of the city of N ew York, of ten per c e n t; and in January of the following
year, the discounts at Baltimore w ere twenty per cent, and at N ew York,
fifteen per cent. In consequence of that state of things, the financial con­
cerns, both of the government and of individuals, became much depressed ;
each state possessing a currency of its own, the revenue was paid in bills
of unequal value, and loans could only with difficulty be procured by the
general government. T he news of peace, which reached the country in
February, 1815, appears to have restored confidence in the state banks;
and it was anticipated that specie payments would be resumed. T he publie, were, however, in that respect, disappointed. T he depreciation of the
bills of the state banks continued, and the debts due to the United States,
as well as the amount for the payment of large importations consequent
upon the peace, could only be paid in those depreciated bills. Although
gold and silver w ere alone receivable in the payment of debts since the
dissolution of the national bank, yet the government was obliged to take
those, or to go without payment. It is alleged, indeed, that the state
banks did, in fact, control the government, inasmuch as gold and sil­
ver could only bo brought into circulation through their agency, while
they kept themselves entirely beyond the reach of the government itself.
In consequence of the disordered state of the currency, it was found difficult, by the secretary of the treasury, to make payments in the various parts
o f the United States ; and efforts were accordingly made to unite the state




432

Banking in the United States.

banks in resuming specie payments, but without success. T he bills received in the different states in payment of the revenue, w ere of unequal
value. It has been seen that the last national bank was established in
1816, and measures w ere soon adopted to cause the revenues to be collect,
ed in the legal currency of the Union. F or this purpose, Congress in­
structed the secretary of the treasury to receive nothing in payment but
the legal currency, or treasury notes, or notes of the national bank, or
notes of banks that w ere paid in specie on demand. D uring the follow,
ing year an arrangem ent was made betw een the bank of the United States
and the state banks of-New York, Philadelphia, Baltimore, and Virginia,
which induced the resumption of specie payments.
From 1811, to 1830, one hundred and sixty-five state banks, posessing
an aggregate capital of about thirty millions of dollars, either failed or dis­
continued their business; those failures occurring in nearly every state
and territory of the Union. T he government had about one million, three
hundred and ninety thousand, seven hundred and seven dollars, deposited
within their vaults, the. g reater portion of which it lost, while the loss to
individuals was that of many millions, the bulk of which fell upon widows
and orphans, whose property had been entrusted within their vaults.
These failures arose in some cases from the multiplication of banks in
places w here they were not required ; from injudicious discounts and over­
issues ; from ignorance of the principles of banking and the nature and ope­
ration of banking institutions ; and in some cases from a desire of gain,
at the expense of individuals and the public. T he number of the state
banks continued, however, to increase. On the first of January, 1834, they
had advanced to the number of five hundred, with a proportionate increase
of capital. It is well known that within a more recent period they have
increased to a much larger number, and their operations have been at­
tended with numerous failures.
In order to aid the circulation of coin throughout the country, the go­
vernment has, through the pow er vested in it by the constitution to coin
money, established a mint. T he first mint was instituted under a law
which passed Congress in 1792, and the place of its location is the city
of Philadelphia. T hat was the only institution in the country until the
year 1835, w-hen three branches of this principal mint were created.
T hese were to be situated in the town of Charlotte, state of North Caro­
lina, and D ahlonega, in the state of G eorgia ; both in the centre of the
gold region of the south, and w ere to be devoted exclusively to the coin­
age of gold. T he third was established in the city' of N ew Orleans, and
was devoted to the coinage, both of gold and silver. These branches went
into operation in 1838, and are respectively managed by superintendents
who are under the control of the director of the parent mint, the coinage
of all being uniform. The whole mint is in fact a bureau of the treasury
department of the general government, is under the supervision of the sec­
retary of the treasury, and its coinage consists of eagles, half eagles, and
quarter eagles, of gold ; dollars, half dollars, quarter dollars, dimes, and
h alf dimes, of silver, and cents of copper. T he discovery of valuable gold
mines in the soil of the United States, adds another source of wealth to the
already vast resources of the nation. Gold to a considerable amount has
been already obtained in the states of Virginia, North Carolina, South
Carolina, Georgia, Tennessee and Alabama ; and it appears from the last
census, that more than a thousand men are employed throughout these




Banking in the United States.

433

states in w orking those mines. T he total value of the deposits of Ame­
rican gold at the mint of the United States, down to the year 1843, it ap ­
pears from the report of the director of the mint, is six million, three hun­
dred and sixteen thousand, two hundred and fifty-nine dollars. It is also
well known that the principal part of our m etallic circulation is comprised
of American and Spanish coin. T he officers of the mint are a director,
chief coiner, assayer, engraver, m elter and refiner; a treasurer, and the
necessary clerks and workm en. It is the duty of the director to superin.
tend and m anage the operations of the mint, and all the persons engaged
in the establishment. T he assayer assays the metals that require it, and
delivers them to the coiner, and the chief coiner coins them, in such quan­
tities and forms as the director may prescribe. T h e engraver prepares
the dies for the coin, with the proper devices and inscriptions ; the melter
and refiner takes charge of all copper and silver, or gold bullion, reduces
them into bars and ingots for the rolling mills, and delivers them to the
coiner or treasurer, as the director orders. T he treasurer receives and
gives receipts for all metals properly brought to the mint to be coined, and
delivers to the assayer a portion to be. assayed. E very officer and clerk
of the mint, before he enters upon the duties of his office, is required to
take oath or affirmation before some judge of the United States, faithfully
to perform his duties, while the assayer, chief coiner, melter, and refiner
and treasurer, give bonds to the secretary of the treasury for the faithful
performance of their own duties. All persons are permitted to carry gold
and silver bullion to the mint, to be coined, and it is assayed and coined
as soon as practicable after it is deposited. I f it is of the standard of the
United States, it is coined without compensation, yet the treasurer is not
obliged to receive silver in less quantity than two hundred ounces, or gold
in less quantity than tw enty ounces, when less than the standard value.
W e do not propose here to enter into a discussion of the various projects
that have been urged on the one side and the other, for the re-estab­
lishment of the bank of the United States. It is w ell known, that, since
the expiration of the last national bank, a bank charter was vetoed by
President Jackson, although it passed both houses of C o n g ress; and an ­
other bill, of a sim ilar character, w as presented to President T yler, and
met the same fate. An institution that was more recently projected, and
understood to have been framed by the late secretary of state, Mr. W eb ­
ster, was not passed into a bill. T he question of a national bank has pro­
bably been the source of more excited party action, of late years, than any
subject, excepting, perhaps, that of the tariff. Some of the opponents of
the institution, looking at the topics that have occurred at various times,
not only from a national bank, but also the banks of the states, have advocated the substitution of the precious metals exclusively, for a paper cur­
rency, as a circulating medium, holding that we should not depend upon
banks at all for our currency. In regard to the general principles which
should regulate the emission of bank paper, we would subjoin some of the
remarks made by one of the most distinguished statesmen of the country,
Mr. W ebster, during the month of June of the present year, in T renton,
which, without reference to party, deserve consideration.
“ T here are dangers and evils, as w ell as benefits and advantages, ill
that mixed circulation of coin and paper which now exists among us.
T hat that mixed circulation wrll continue, seems certain. T h at far the
greater part will consist of paper, until there shall come another day of




434

Banking in the United States.

disaster to the banks, seems certain, also. T hat this circulation, in its pre­
sent state, while the banks which issue paper are solvent, and do not issue
it in excess, is convenient, and as beneficial as any local circulation can be,
may be also admitted. But neither of these things is more certain than
that danger hangs round the system, calling for care and discretion, over­
sight and watchfulness from the government, or in the absence of the ex­
ercise of any powers of the government, from the banks themselves, an I
from the community. I have ever been and still am of opinion that this
guardianship and superintendence of the currency, is one of the constitu­
tional, appropriate and necessary exercises of the authority of the national
government. But that point I do not now propose to argue, or to touch.
But I wish to state what I consider the danger to be, and whence it arises,
to the end that the country may not be led to forget the existence of that
danger, although it be not, at the present moment, standing in an appalling
attitude before us.
“ Gold and silver are the universal standard of value, and medium of pay­
ments, among all civilized nations. All the coin in the world belongs to
all the commercial nations in the world, each having naturally a share of
it, proportioned to its commercial business and use. I f bills of exchange
w ere unknown, then coin would exchange hands from country to country,
in order to pay debts and sfettle balances, as the course of trade should
have created such balance, on the one side or the other. Coin is the uni­
versal solvent of commercial balances, the general paymaster, whose office
it is to square accounts, arising from the interchange of commodities. If
produce exported becomes debtor to produce imported, coin must pay the
difference ; and where exports throw a credit over import, coin returns to
adjust the accounts. All this is as simple, in the order of things, as is the
proceeding of a farmer, who goes to the m arket town, with the produce of
his farm, and with money in his pocket, if he wishes to buy more than he
has to sell, or bringing home more money', if his sale exceed his purchases.
“ But in the intercourse of nations, there are things which affect the simplicity of this proceeding, and render it a little more complicated, without
changing its nature. T he use of bills of exchange is universal. Bills of
exchange prevent, in a very great degree, in a settled state of trade, the
actual transmission of coin from country to country. T hey run the round
of the whola mercantile world, bringing nat ions to a settlement, each one
with ail the rest, one paying its debts to another, by drawing on its funds in
the hands of a third, and leaving coin to be called for, only where ba­
lances of debt are considerable, or appear to be accumulating at some one
point. London may' be regarded as the centre of exchanges for Europe,
and the city of N ew York, for this country; Paris, Ham burg and Amster­
dam being auxiliaries to Loudon ; and Boston, Philadelphia, Baltimore,
Mobile and N ew O rleans, auxiliaries to New York.
“ T he state of exchange, then, at anytim e, between N ew York and L on­
don, shows substantially the state of trade, in the aggregate, between this
country and Europe, and the balances actually existing, or soon to arise,
on the one side or the other. Speculations founded in calculations re­
specting future events, such as the probable amount of the staple articles,
for the year, or the results of manufacturing industry, the probable rise or
fall of prices, and other such things, affect, to a certain degree, the actual
rate at which bills of exchange are bougkt and sold, and thus qualify that
which would otherwise be the m ere result of facts, with more or less of




Banking in the United States.

435

th e in flu e n c e o f o p in io n . S till, th e g e n e r a l an d th e sa fe in d ex o f th e sta te
o f trade is th e sta te o f th e e x c h a n g e s .
“ To an accurate understanding of the subject, however, it is necessary
to bear in mind that the nominal exchange betw een the United States and
England does not correspond with the real commercial exchange ; by rea­
son of the difference which the laws of the two countries have established
in regard to the value of gold, and of the incorrect estimate, usually made
here, in the business of exchange, of the value of the pound sterling. In
exchange the pound sterling is received at $4 4 4 ; its real value may be
put at $4 80, and so the laws of Congress regard it. T his difference
amounts to 8 per cent. So that when a bill of exchange is bought in
New York, payable in London, in sterling money, if the premium given
for it do not exceed 8 per cent, it is really purchased at about p a r ; and ill
this state of exchanges, there is no danger of the export of specie.
“ T he topic may be thought to be not altogether fit for discussion here.
But I have made these rem arks upon it for reasons which I have already
stated, and for the purpose of preparing the way a little for opinions which
I entertain on the subject of a mixed metallic and paper currency, and the
influences of this currency on foreign trade ; and which opinions I wish
briefly to state. And I wish to do this at this time, because I think I fore­
see that in the progress o f no great num ber of years, probably sooner than
most men suppose, the currency question will again come to be a question
of great interest.
“ Gold and silver, as I have already said, constitute the standard of v a­
lue, and medium of payment among nations. T he same is true, in effect,
in domestic trade, and among individuals. But here comes in the modern
use of bank paper as the representative of gold and silver, which supplies
the place of coin, and almost supercedes it in domestic transactions. Most
commercial countries authorize the circulation of paper, and this circula­
tion is greater or less, according to circumstances, and to the habits of the
people. In the United States and England it is large, in France it is less.
“ I am not now speaking of government securities, irredeemable tre a ­
sury notes, or anything of that kind ; I am speaking of bank notes, promis­
ing payment in specie on demand, and circulating as cash. In the United
States such bank notes are issued by many hundred different banks. T hey
pass from hand to hand, as money, and little gold and silver is seen in the
daily business of life. T his state of things is convenient, so far as local
circulations are concerned, and while the use of paper is restrained within
just limits. But then comes the question, w hat are the just limits, and
who is to preserve them ? W hat is the standard, by which we are to de­
cide the question of excess, or no excess? and who is to support the stan­
dard ?

“ Is th e r e , o r is th e r e n o t, o r m a y th e r e b e , or c a n n o t th e r e e v e r b e , e x ­
c e s s , so lo n g a s th e b a n k s a r e a b le to r e d e e m th e ir p a p e r ? W h a t d o w e
m e a n b y e x c e s s , o r o v e r issu es, or in ju d icio u s su p e r a b u n d a n c e o f p a p e r ?
“ T o a n s w e r th e s e q u e stio n s, w e m u st r e m e m b e r th a t th e tru e o p e r a tio n
o f b a n k p a p er is o f a r e p r e se n ta tiv e c h a r a c te r . It r e p r e se n ts c o in . B u t
th is r e p r e se n ta tiv e , lik e o th e r r e p r e se n ta tiv e s, so m e tim e s fo r g e ts its c o n ­
stitu e n ts, a n d se ts it s e lf up to b e so m e b o d y , o r s o m e th in g ; w h e n o f itself,
it is n o b o d y , a n d n o th in g . T h e o n e d o lla r b ill w h ic h y o u h a v e in y o u r
p o c k e t is n o b e tte r th a n b la n k (fcp er, e x c e p t so far a s y o u h a v e c o n fid e n c e
th a t it w ill, w h e n e v e r y o u w is h , b r in g a d o lla r in to y o u r h a n d s.




436

Banicing in the United States.

“ A bank note, professing to represent coin, and being a true represen.
tative, acts a respectable part in the dram a of commercial affairs; but
w hen it sets up for itself, or offers itself in an independent character, it
only “ presents the person of m oonshine.” T he security of paper, first
against the insolvency of banks, and secondly against the general evil of
over-issues and inflated circulation, consists in m aintaining a just and di­
rect relation betw een the amount of paper and the gold and silver which
it represents. I do not, of course, say a relation of equality, but a just re­
lation, and a direct relation. In other words, I mean to say that when the
course of trade withdraws specie from the country, then the amount of cir­
culating paper should be proportionally diminished.
“ Bank notes will not pay foreign debts. Strangers will not trust this
representative of coin. T hey cannot judge of his credentials, and, there­
fore, demand the presence of the constituent itself. H ere, I think, lies
one of the great temptations to excessive issues of paper. T h en trade is
such that balances are rising against us abroad, and the exportation of
specie commences. T here are those who always desire an enlargement
of the paper circulation, to supply the deficiency, and to keep up prices.
But enlargem ent of paper issues, under such circumstances, is the first
step towards a crisis, commercial distress and revulsion. T h e country is
full of enterprise. No people have more. Almost every man is active,
while, at the same time, and for the same reason, capital is less abundant
than in older countries.
“ T hese circumstances keep up a demand for loans and discounts, espe­
cially in times of activity ; and although it is doubtless true that a well
conducted system of paper circulation may, to some extent, act as expan­
sion of capital, and in that w ay be useful in a new country, yet men are
too apt to delude themselves with the idea that paper is currency.
“ But I am now considering mainly, paper currency at home, in its con­
sequences upon importations, and other branches of foreign trade, and a
just limit to its, or these discounts.
“ An opinion has prevailed, in E ngland, and I suppose still prevails, that
it is safe in banks to discount every good bill of exchange, or promissory
note, w hich bill or note is business paper, as it is c a lle d ; that is, if it has
been given in a real transaction of buying and selling. This has been,
heretofore, the rule with the bank of England.
“ Now, if by this, no more w ere m eant than it might be safe for the bank
itself, and so far as its own interests are concerned, to discount all such
paper, the proposition might be admitted. Business paper, generally
speaking, may be regarded as safe paper. But that all good business pa­
per may be discounted by banks, and the discount paid in bank notes,
without danger of injury to the public from an excess in the paper circu­
lation, is a proposition which I do not admit, and which I think of dan­
gerous tendency. I am persuaded that enlightened bank directors, dis­
posed to regard the public good, as well as the interests of their own
stockholders, can never act on such a principle.
“ It is a fundamental error ; and in a country so full of enterprise, and so
much disposed to activity as ours, its practical tendency is to stimulate bu­
siness too highly, to inflate prices unnaturally, to cause overtrading, over
production, and over action, in all departments of business. It swells the
amount of paper beyond its just relation^ko specie, and exposes the coun­
try to sudden revulsions. W hile specie is departing, to pay debts abroad,




Banking in the United States.

437

it is the effect of this shallow and short-sighted policy to increase the paper
circulation at home. How can such a course of things term inate, but in
disaster and distress ?
“ W e are now just recovering from a deep and long continued depres­
sion. All branches of business give evidence of revival and o f healthy
action. T he danger is that we shall not be content to make haste slow ly;
that a spirit of speculation may spring out of our state of prosperity, when
it shall become flushed. T he danger is that paper will be issued to ex­
cess, prices become extravagant, and the symptoms of crisis be upon us,
before we are aw are. All this may not h ap p e n ; but the only security
that it shall not happen lies in this, viz :— that bank issues be kept within
just bounds, with direct reference to the amount o f gold and silver.
“ L et me illustrate my m eaning by a supposed case. Suppose the amount
of coin in the banks of N ew York to be five millions. Suppose them to
have issued, in paper, three millions for one, that is to say, fifteen millions.
I do not intend to say that this is a just proportion, but it may be assumed,
for illustration.
“ Now, suppose the holders of one of these fifteen millions demand specie for it, for exportation. T hen fourteen millions of paper rem ain resting
on a basis of four millions. I f a second million of specie be called for,
then thirteen millions of paper rest on three millions of specie, and soon.
N ow it is evident that if such a process as this begins, and threatens to go
on rapidly, without contraction, general distress, and perhaps explosions of
the banks themselves, would be the inevitable and immediate conse­
quences.
“ T his catastrophe, and the tendency of things toward it, is to be guarded
against, by just restraints upon the amount of discounts, by waiting the
course of trade, and observing continually the index of exchange. It is not
sufficient guard to look at the supposed responsibility of paper offered for
discounts, or to inquire w hether it arose in any case from real transac­
tions of sale and purchases. I f the exchanges indicate that exportation of
specie may be apprehended, more caution is n ecessary ; and when expor­
tation ordinarily commences, it should be met by an immediate and cor­
responding diminution of the paper circulation. T his will slacken that
exportation, check it, and finally stop it. T he process may be inconve­
nient for the moment. It may more or less depress prices, and dash m en’s
hopes a little
But it is infinitely better to meet the occurrence, by its
proper remedy, in the beginning, than to attem pt to hold up against the
natural course of things, to m aintain trade in an artificial and forced state,
tending every day to a final, ruinous and overwhelming fall of prices, and
to a general prostration of credit.
“ T h at which every branch of industry in this country most needs, is
reasonable and steady, not extravagant or fluctuating p ric e s; sudden
changes deprive men of employment, and distress families.
“ Steady occupation, with reasonable gain, constant markets, with fair
prices, with no apprehension of sudden change, and the security w hich a
man feels that that is money which he has taken for money, freedom from
alarm, and panic, and no fear of disorder or violence; these things com­
pose the elements of general and enduring prosperity among the indus­
trious and producing classes of the community.
“ In the present state of things, in the absence of all oversight by go­
vernment, the continuance of the public prosperity very much depends on




Banking in the United Slates.

438

the banks themselves. Subject to no control but their own discretion,
they ought to feel responsible for the exercise of that discretion.
“ T he great cities n ear to us, and other great cities, the sources of a
great proportion of bank paper, are jointly called on to guard the country
against such evils as it has already more than once experienced.
“ T here ought to be an understanding among the leading institutions, and
a just disposition to discountenance every where, either extravagant lend­
ing or extravagant borrowing. I do not presume to admonish the banks ;
but I hope they will receive these suggestions as made in a friendly spirit.
I f discretion and candor, in this respect, be not exercised, our present
state of health will itself bring on disease ; our very prosperity will plunge
us in disorder. W e are well instructed by experience— let us not be lost
to experience. L et not all the good, all the comforts, all the blessings,
which now seem in prospect for all classes, be blighted, ruined and de­
stroyed by running into danger w hich we may avoid. T he rocks before
us are all visible— all high out of water. T hey lift themselves up, covered
with the fragments of the awful wrecks and ruin of other times. L et us
avoid them. L et the master, and the pilots, and the helmsman, and all
the crew, be wide aw ake, and give the breakers a good b erth .”
Tw o prominent parties have arisen in the country, the one advocating
the charter of a bank, on the ground that such an institution is constitutional and expedient, and the other opposing it upon opposite grounds.
I f we trace the political history of the national banks of the country back
to the early controversies which have arisen upon the subject of their es­
tablishment, we find that the discussions have not always been made
strictly party questions. T he bank of 1791, as has been seen, was estab­
lished under the auspices of President Washington, and was at that time
deemed by him constitutional. T he refusal of Mr. Madison to sign the
bank bill of 1811, appears to have been founded in honest doubts as to its
expediency, and the bill of 1816 was passed into a law with his approval.
T he vetoes of some of his successors seem to have been based upon its
alleged inexpediency and unconstitutionality. It would seem that a solemn
decision of the Supreme Court has fully set at rest the constitutionality of
a national bank ;* but its expediency, of course, must depend upon vari­
ous considerations connected with its structure and operations.
W e have thus traced a condensed history of the banks of the United
States, not with any partisan view, but for the purpose of giving the pro­
minent facts connected with banking institutions in our own country.
M any of these institutions have doubtless been established for m ere pur­
poses of speculation, and have been conducted in a fraudulent sp irit; but
the g reater part, we doubt not, have met w ith the disasters w hich caused
their explosion, either from over issues, injudicious discounts, or from an
ignorance of the true principles of banking. It is admitted on all sides,
that, in order to carry on the extensive business operations of the mercan­
tile community, we require a solid, stable, and unform currency. It is
equally clear, that a system like banking, that has constituted a prominent
engine of trade and commerce in all civilized communities, must possess
fixed and ascertained principles ; and to discover and apply those princi­
ples in the most equitable m anner, should be the grand object of all who
exercise any agency in the creation or the m anagem ent of those institu* McCulloch vs. State of Maryland, 4 Wheaton, 316.




Mercantile Biography.

439

tio n s. It s e e m s th a t th e q u e stio n o f th e fu tu re e sta b lish m e n t o f a n a tio n a l
b a n k r e sts u p o n v e r y c le a r g r o u n d . Is th e c h a r te r o f su c h a n in stitu tio n
p rop er ? In ord er to a n s w e r th is q u e stio n , it is n e c e s s a r y to u n d ersta n d
th o ro u g h ly th e p r a c tic a l o p e r a tio n s o f th e b a n k u p o n th e c o m m u n ity . I f
it ten d s to th e p u b lic w e lfa r e , i f it p r o m o te s th e p u b lic g o o d , e v e r y ju d ic io u s
m a n m u st b e c o n v in c e d th a t it is p ro p er to b e e sta b lish e d ; but if, o n th e
o th er h a n d , it is to b e m a d e th e o r g a n o f p o litic a l c o rru p tio n , i f it is to su b ­
se r v e se lfish a n d p a r ty en d s, n o h o n e s t and in te llig e n t m in d w o u ld a s s e n t
to its e x is t e n c e .
A rt . IV.—M E R C A N T IL E BIOGRAPHY.
HENRY LAURENS.
H e n r y L a u r e n s was born in Charleston, South Carolina, in the year
1724. H e was descended from ancestors who w ere F rench protestant
refugees, and left F rance after the revocation of the edict of N antz. T hey
landed at N ew York, w here they resided some time, and afterwards set­
tled at the place of his birth. T he superintendence of his education was
first given to Mr. Howe, and subsequently, to Mr. C o rb e tt; but of the n a­
ture of his studies, or the extent of his acquirements we are not told. H e
was regularly bred to m ercantile pursuits under the direction of Thomas
Smith, of Charleston, afterwards of Mr. Crockatt, of London, and was re ­
markable through lifer for his peculiar observance of method in business.
W hen he returned from London he entered into trade with Mr. Austin, of
Charleston. In whatever he was engaged, he was distinguished for his
extraordinary punctuality. Allowing nothing ever to interfere with his
own, he invariably discountenanced the violations of it by others. W hat
a noble example for every young m an steadily to hold in v ie w ! It was
the constant possession of these lofty and dignified feelings, and a rigid
attention to his duties, which ensured him success through life, and served
as a constant passport, in his progress, to that em inent distinction, which
he afterwards so justly enjoyed.

S u c h w a s h is r e p u ta tio n a s a m a n o f b u sin e ss, th a t to h a v e se r v e d a n
a p p r e n tic e sh ip in th e c o u n tin g h o u se o f M r . L a u r e n s , w a s a h ig h r e c o m ­
m e n d a tio n . In d u strio u s a lm o st to a n e x tr e m e h im se lf, h e d e m a n d e d a
c o r r e sp o n d in g a tte n tio n an d la b o r o n th e p a rt o f th o se in h is e m p lo y . It
is sa id , th a t h e req u ired b u t little s le e p , and a c o n sid e r a b le p o rtio n o f th e
affairs o f th e d a y r e c e iv e d h is a tte n tio n d u rin g a g r e a t p art o f th e n ig h t.
N o m a n su rp a ssed , p erh a p s fe w e q u a lle d h im , in th e e x e c u tio n o f b u si­
n e ss. R is in g e a r ly , an d d e v o tin g th e m o r n in g to th e c o u n tin g -h o u se , h e
n ot u n fr e q u e n tly fin ish ed h is c o n c e r n s b e fo r e o th e r s had le ft th e ir b e d s.
H is le tte r s , w h e th e r o n frien d sh ip o r b u s in e s s , w e r e c le a r an d fo r c ib le ,
and in a s ty le a d m ir a b ly ad a p ted to th is s p e c ie s o f w r itin g . T w o v o lu m e s
o f h is o ffic ia l p u b lic c o r r e sp o n d e n c e , w h ile p r e sid e n t o f th e o ld C o n g r e ss,
r e m a in in its a r c h iv e s.
F e w m e n , p erh a p s, p o sse sse d a d e e p e r k n o w le d g e o f h u m a n n a t u r e ;
and th e q u ic k n e ss w ith w h ic h h e fo rm ed c o r r e c t o p in io n s o f o th e r s from
th e ir a p p e a r a n c e , w a s v e r y r e m a r k a b le . In p r o o f o f th is, w e a r e to ld th a t
h e w a s e n g a g e d in tra d e a b o u t tw e n ty -th r e e y e a r s, and th a t a t th e c o n ­
c lu sio n o f th e affa irs o f th e p a rtn ersh ip , w h ic h c o m p r ise d tr a n sa c tio n s to


9


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Mercantile Biography.

an immense amount, he proposed to take all outstanding debts as cash, at
a discount of five per cent on their gross amount.
H is colloquial powers Were very great, and afforded delight and instruc­
tion to every company. Reproving with gentleness, his advice was at all
times valued for its soundness and sincerity. Such was his integrity, and
such w ere his views of justice, that he would on no occasion draw bills of
exchange till he first obtained an acknowledgment in w riting from those
on whom he designed to draw, that they were indebted to him. H e cheer­
fully, but moderately, partook of proper diversions, but retained, during
his whole life, an invincible aversion to playing any game for pecuniary
consideration.
W e are told that, in several instances, he yielded to the improper
fashion of deciding controversies by single combat. In each instance, he
received the fire of his adversary without returning it. O f his generosity
there are many instances. H e was engaged, on one occasion, in a law
suit with the judge of the court of vice-admiralty, and resisted the claims
of the royal government, which, by some regulations, were opposed to
A m erican rights. Failing in his suit, Mr. Laurens tendered to the judge,
S ir E gerton Leigh, his legal fees, which were considerable. T he judge
declining their acceptance, M r. L aurens presented the amount of them to
the South Carolina society for charitable purposes. On another occasion,
he received money in some official character, which had not been de­
manded. Disclaiming the idea of his having any right to keep it, he
transferred it to the same society till it should be applied for by the owner.
Strict and exemplary in his religious duties, he was found regularly at
church. W ith the holy scriptures he was well acquainted, and took great
delight in applying portions of them to the common occurrences of life.
T hey w ere not only regularly read by himself to his family, but his chil­
dren w ere early instructed to read them also at stated periods. H is family
bible contained, in his own hand-writing, several observations on passing
providences. H e has been often heard to say, that many of the best pas­
sages of distinguished authors w ere borrowed either in the m atter or the
style from sacred writ, and he quoted the following among other instances,
“ God tempers the wind to the back of the shorn lam b” of Sterne, as an
imitation of “ H e stayeth his rough wind in the day of the east wind” of
the prophet Isaiah. H e was charm ed with the writings of Solomon, for
the knowledge of human nature which they imparted, and conceived that
the observance of their maxims would greatly contribute to the wisdom
and happiness of society.
Requiring of his servants the exact execution of their several duties,
compelling the observance of decency and order, their wants and com­
forts w ere never neglected, and to their m oral and religious instruction he
w as invariably attentive.
H e once obtained of a favorite slave his consent, though much against
his will to receive the small-pox by inoculation, but by which he lost his
life. W ith a view of adm inistering to the faithful, though unfortunate do­
mestic, in his last dying moments, all the consolation that this distressing
case seemed to admit, Mr. Laurens gave to him positive assurances, with
w hich he afterwards most strictly complied, that his children should be
em ancipated.
H aving lost an am iable and beloved wife, and possessed of a large es­
tate, he entirely relinquished business, and in the year 1771, visited Eu-




Henry Laurens.

441

rope, principally for the purpose of superintending the education of his
sons, by whose attainm ents his highest expectations w ere fully realized.
H e was one of the thirty-nine native Americans who endeavored, by
their petition, to prevent the British parliam ent from passing the Boston
port bill.
Every exertion on the part of the colonies to prevent a w ar proving en­
tirely fruitless, he hastened home, w ith a determ ination to take part with
his countrymen against G reat B ritain. Persuasions and entreaties w ere
used to divert him from the resolution he had formed, dazzling prospects
w ere held out to his view, and even large offers were made, by which he
would be indemnified for any losses he might sustain, by his rem aining in
England. But this ornam ent of his country, burning with patriotism and
the love of liberty, ever dignified, firm, and incorruptible, rejected these
despicable propositions, w ith a magnanim ity of spirit worthy of his exalt­
ed character.
How beautiful, yet forcible, is his reply on his em barkation from F a l­
mouth for Charleston, to a m ercantile friend, Mr. Oswald, who urged him
to continue in G reat B ritain :— “ I shall never forget your friendly atten­
tion to my in te re st; but I dare not return. Your ministers are deaf to
information, and seem bent on provoking unnecessary contest. I think I
have acted the part of a faithful subject. I now go, resolved still to labor
for peace, at the same time determined in the last event to stand or fall
with my country.” On his departure from England, he expressed his
conviction, that Am erica would not submit to the claim s of the British
parliam ent; and when he arrived at Charleston in D ecem ber, 1774, he
mentioned to his friends his opinion, that B ritain would not only reject
their demands, but that w ar would inevitably take place. From his ac­
knowledged w eight of character, it may readily be supposed, that such in­
formation would receive the most implicit confidence, and, accordingly,
vigorous and extensive preparations for defence w ere made early in 1775
by the Carolinians. T he circum stance of his leaving E ngland at this
important crisis, expressly to defend the cause of independence, served to
confirm, in the highest degree, that unbounded confidence in his fidelity
and patriotism, w hich his friends, through the whole course of his career,
had such ample cause to entertain.
On his arrival, no attentions w ere withheld which it was possible to b e­
stow. Offices w ere conferred and honors heaped upon him. Ho becam e
president of the council of safety, w ith a full persuasion that his life was
endangered by this situation. Soon affer the establishment of a regular
constitution in South Carolina, in 177(5, he was elected a member of Con­
gress, and shortly after he had taken his seat, was appointed president of
that honorable body, over w hich he presided with his usual integrity, in ­
dustry, and decision. About this period, the British commissioners a r­
rived, under the delusive hope of being able to induce the Americans to
abrogate their alliance with France, and to become once more free B rit­
ish subjects. Governor Johnson, one of the commissioners, presented
private letters of introduction to Mr. Laurens. In D ecem ber, 1778, he
relinquished his situation as president of Congress, for w hat reason we are
not told, and received its thanks “ for his conduct in the chair, and in the
execution of public business.” H is acknowledgments w ere returned for
the honor conferred upon him, which, he observed, “ would be of service
to his children.” In the following year, he received the appointment of
35
VOL. X I.---- N O . V .




442

Mercantile Biography.

minister plenipotentiary from the United States to H olland ; and being
captured on his voyage, was taken to England, and there imprisoned in
the T ow er of London on suspicion of treason, and was officially mention­
ed by Sir Joseph York, as “ styling himself president of the pretended
congress.” T he commitment was accompanied with orders, “ to confine
him a close prisoner— to be locked up every night— to be in the custody
of two warders— not to suffer him to be out of their sight one moment,
day or night— to allow him no liberty of speaking to any person, nor to
perm it any person to speak to him— to deprive him of the use of pen and
ink—to suffer no. letter to be brought to him, nor any to go from him .”
Afflicted with the gout and other diseases— his head whitened with the
snows of fifty-six winters,— in a situation full of misery,— his cup of sor­
row seemed to be full to overflowing. T his venerable and illustrious
prisoner was confined to two small rooms, with a w arder for his constant
companion, and a fixed bayonet, paraded under his window, enjoying
neither friend to converse with, nor means of correspondence. Deprived
of pen and ink, he at length fortunately procured pencils. After a month’s
confinement, permission was granted to him to exercise on limited
ground, but a w arder, armed with a sword, followed him closely. H e had
availed himself of this indulgence for about three weeks, when Lord
G eorge Gordon, who was also imprisoned in the T ow er, unluckily met
and asked Mr. Laurens to w alk with him. Mr. Laurens declined the
offer, and hastened to his apartm ent. G overnor G ore, provoked at this
transgression of his positive orders, locked him up for thirty-seven days,
though the attending w arder proved Mr. Laurens perfectly innocent of the
violation of any established rule. About this time, one of his friends and
m ercantile correspondents, interested in his welfare, solicted the secreta­
ries of state to grant Mr. L aurens an enlargem ent on parole, and offered
his fortune as security for his good conduct. T he following message to
Mr. Laurens was the re su lt:— “ T h eir lordships say, if you will point out
any thing for the benefit of G reat Britain in the present dispute with the
colonies, you will be enlarged.” T his proposition inspired him with the
noblest feelings, and raising his proud soul above the acceptance of any
allurem ent founded in ignoble views, induced the keenest replication.
T he same friend, soon after, during a private interview with Mr. Lau­
rens, observed, “ I converse w ith you this morning, not particularly as
your friend, but as the friend of G reat Britain. I have certain propositions to make for obtaining your liberty, which I advise you should lake
tim e to consider.” Requesting to know w hat they w ere, Mr. Laurens
added, “ An honest man requires no time to decide upon his answer in
cases w here his honor is concerned. I f the secretaries of state will en­
large me upon parole, I will solemnly engage to do nothing, directly or in­
directly, to the hurt of this kingdom. I will return to America, or remain
in any part of England which may be assigned, and surrender myself
when dem anded.” T o which his friend replied, “ No sir, you must stay
in London among your friends. T he ministry will often have occasion to
send for and consult you. You can write two or three lines to the minis­
ters, and barely say you are sorry for w hat is past. A pardon will be
granted. E very man has been wrong at some time or other of his life,
and should not be ashamed to acknowledge it.” Mr. Laurens immediately
exclaimed, “ I will never subscribe to my own infamy and to the dishonor
o f my children.”




H enry Laurens.

443

Such newspapers from America as w ere employed in the publication
of British successes, especially in South Carolina, and subsequently to the
surrender of its capital, w ere sent to him for his perusal w ith an insulting
regularity* H e was there informed, that his countrymen, refusing to fight
in the cause in which they had em barked, w ere flocking to the enemy for
protection and rew ard, and that the estates of Laurens and other stubborn
rebels were under actual sequestration by the British conquerors. But to
every such communication Mr. L aurens calmly and characteristically re ­
plied, “ none of these things move m e .”
In the year 1781, his eldest son, lieutenant colonel John Laurens, arrived in F rance, as m inister of Congress. Mr. L aurens was desired to
write to his son, that if he would withdraw him self from that court, it
might possibly obtain his father’s release. T he reply was— “ My son is
of age, and has a will of his own. I f I should w rite to him as you request,
it would have no effect. H e would only conclude that confinement and
persuasion had intimidated and overcome me. I know him well. H e
loves me dearly, and would lay down his life to save mine ; but I am
sure nothing would tempt him to sacrifice his honor, and I applaud him .”
In w ant of money for immediate purposes, and desirous of draw ing a
bill of exchange on a m erchant in London, and his debtor, he transmitted
a pencilled request to the secretaries of state for the use of w riting m ate­
rials. T h eir lordships received it, but returned no answ er, though no
provision had been made for his support. Mortified and disappointed, at
not being able to m aintain himself from his own funds, he was suffered to
languish in aggravated confinement, and under a complication of diseases,
without the slightest prospect of release or melioration.
W hen he had been confined a year, a demand was made upon him to
pay ninety-seven pounds ten shillings, sterling, to two w arders for services
in w aiting on him. H e returned the following answ er, “ I will not pay
the w arders whom I never employed, and whose attendance I shall be glad
to dispense w ith.” T hree w eeks after this, Mr. L aurens received per­
mission from the secretaries of state to have the use of pen and ink for
the purpose of drawdng a bill of exchange, but they were removed imm e­
diately after its execution.
Tow ards the close of the year 1781, his sufferings, which had by that
time become well known, excited the utmost sympathy for himself, but
kindled the warm est indignation against the authors of his cruel confine­
ment. E very attempt to draw concessions from this inflexible patriot hav­
ing proved more than useless, his enlargem ent was resolved upon, but
difficulties arose as to the mode of effecting it. Pursuing the same highminded course which he had at first adopted, and influenced by the no­
blest feelings of the heart, he obstinately refused his consent to any act
which might imply a confession that he was a British subject, for as such
he had been committed on a charge of high treason. It was finally pro­
posed to take bail for his appearance at the court of king’s bench, and
when the words of the recognizance, “ our sovereign lord the king,” w ere
read to Mr. Laurens, he distinctly replied in open court, “ not my sove­
reign !” W ith this declaration, he, with Messrs. Oswald and Anderson,
as his securities, w ere bound for his apperance at the next court of k ing’s
bench for E aster term, and for not departing without leave of the court,
upon which he was immediately discharged. W hen the time appointed
for his trial approached, he was not only exonerated from obligation to




The Fair o f the American Institute.

444

a tte n d , b u t so lic ite d b y L o r d S h e lb u r n e to d ep a rt fo r th e c o n tin e n t to a ssist in a s c h e m e for a p a c ific a tio n w ith A m e r ic a . T h e id e a o f b e in g rele a s e d g r a tu ito u sly b y th e B r itish g o v e r n m e n t, s e n s ib ly m o v e d h im , for
h e h ad in v a r ia b ly c o n sid e r e d h im s e lf a s a p r iso n e r o f w a r . P d sse sse d o f
a lo fty s e n s e o f p e r so n a l in d e p e n d e n c e , a n d u n w illin g to b e b r o u g h t u n d er
th e s lig h te s t o b lig a tio n , h e th u s e x p r e sse d h im se lf, “ I d u rst n o t a c c e p t
m y s e lf a s a g i f t ; a n d a s c o n g r e s s o n c e o ffered g e n e r a l B u r g o y n e for m e,
I h a v e n o d o u b t o f th e ir b e in g n o w w illin g to offer e a r l C o r n w a llis for th e
sa m e p u r p o se .”
Close confinement in the tow er for more than fourteen months had shat­
tered his constitution, and he w as ever afterwards a stranger to good
health. As soon as his discharge was promulgated, he received from Congress a commission, appointing him one of their ministers for negotiating
a peace with G reat B ritain. Arrived at Paris, in conjunction with Dr.
F ranklin, John Adams, and John Jay, he signed the prelim inarirs of peace
on the 30th of November, 1782, by w hich the independence of the United
States was unequivocally acknowledged. Soon after this, Mr. Laurens
returned to Carolina. E ntirely satisfied with the whole course of his con­
duct while abroad, it w ill readily be imagined that his countrymen refused him no distinctions within their pow er to b esto w ; but every solici­
tation to suffer him self to be elected governor, m em ber of Congress, or
of the Legislature of the state, he positively withstood. W hen the project
of a general convention for revising the federal bond of union, was under
consideration, he was chosen, without his knowledge, one of its members,
but he refused to serve. R etired from the world and its concerns, he
found delight in agricultural experiments, in advancing the welfare of his
children and dependants, and in attentions to the interest of his friends and
fellow-citizens.
H e expired on the 8th of Decem ber, 1792, in the sixty-ninth y ear of
his age. H is will concluded with this singular request, w hich was strictly
complied w ith :— “ I solemnly enjoin it upon my son as an indispensable
duty, that as soon as he conveniently can after my decease, he cause my
body to be wrapped in twelve yards of tow cloth, and burnt until it be en­
tirely consumed ; and then, collecting my bones, deposit them w herever
he may see proper.”

M r . L a u r e n s had fou r c h ild r e n , tw o so n s a n d tw o d a u g h te r s. O n e o f
th e m m a rried th e la te c e le b r a te d D r . R a m s a y ; th e o th e r , M r . C h a r le s
P in c k n e y . O n e o f th e so n s, C o lo n e l J o h n L a u r e n s , r e sid e d for m a n y
y e a r s in C h a r le sto n , S o u th C a r o lin a .
A r t . V.—T H E F A IR O F T H E A M ERICA N IN S T IT U T E .

e x h ib itio n of th is p o p u la r n a tio n a l in stitu tio n for th e y e a r 1844,
w a s o p e n e d o n th e s e v e n th o f O c to b e r , in N ib lo ’s G a r d e n , b y a n a b le and
e lo q u e n t a d d ress fro m th e H o n . L u th e r B r a d ish , th e la te L ie u te n a n t G o ­
v e r n o r of th e sta te o f N e w Y o r k . In th e e x te n s iv e a n d b r illia n t d isp la y
of th e m o st v a lu a b le s p e c im e n s o f d o m e stic sk ill a n d in d u stry , it p r e se n te d
a g r a tify in g s c e n e to a ll th o se w h o fe e l a n in te r e s t in th e a d v a n c e o f m e ­
c h a n ic a l in g e n u ity a n d m a n u fa c tu r in g e n te r p r is e th r o u g h o u t th e n a tio n .
T h e r e w e r e p r e se n te d , in th e v a rio u s a r tic le s c o n n e c te d w ith m a n u fa ctu re
a n d th e m e c h a n ic a rts, th e e v id e n c e s o f a m a r k e d a n d d e c id e d g e n iu s for
th o s e p a r tic u la r su b je c ts o f A m e r ic a n e n te r p r ise ; a n d th e e x te n s iv e apartT he




The Fair o f the American Institute.

445

ments of the saloon, and the adjoining garden, w ere daily filled, during the
continuance of the exhibition, with throngs of visiters, who w ere, doubtless,
gratified with the exhibition.
T he exhibition itself consisted of the most approved specimens of Ame­
rican ingenuity and labor, connected with agriculture, commerce, m anu­
factures, and the arts, to advance which, the institution itself was origi­
nally organized. T he most highly finished models of manufacturing m a­
chinery, fire engines, and other utensils, too numerous to be described,
were among the most elegant specimens of A m erican genius. T h e va­
rious sorts of cloth produced in our own manufacturing establishments,
gave evidence of decided improvement in that particular departm ent of
domestic industry. Numerous articles, both useful and ornam ental, ranged
along the borders, and upon the shelves of the building in which the institute held its exhibition, w ere calculated to arouse the honest pride of our
countrymen in the progress which has been made, throughout the nation,
in the industrial arts. T he agricultural and silk conventions, designed to
improve the condition of these two important branches of culture, w ere
also held at the same time, and w ere calculated to add to the interest of
the occasion.
T he A m erican Institute has now held its seventeenth anniversary, and
during that time it has accomplished much for the benefit of the industry
of the country. Its objects, it is w ell known, are national, so far as they
are designed to advance the various interests connected w ith the indus­
trial arts throughout the nation. By collecting individuals engaged in the
same pursuits at one place, annually; by engaging them in mutual coun­
cil and deliberation, respecting the various interests with which they are
identified ; and by exhibiting the products of their respective pursuits, they
can at once com pare the relative advances w hich have been made in the
several branches of their various occupations, and are induced to cultivate
sentiments of a broad and patriotic character. Besides, the distribution
of medals to the best specimens of American skill, is an equitable and ju ­
dicious arrangem ent for the advancement of A m erican industrial en ter­
prise. M any a deserving and ingenious mechanic, who would otherwise,
perhaps, remain in obscurity, w ere no public notice taken of the products
of his skill and industry, is here honored with a medal, w hich is a sort of
general letter of recommendation to the p ublic; and he thus assumes that
place before the community, to which his substantial merits give him the
just title. T he delivery of addresses, moreover, upon interesting topics
connected with the industrial enterprise of the United States, or upon sub­
jects of a more general character, yet referring to the same interest, is
calculated to shed new light upon the various topics of which they trea t.
It can hardly have escaped the attention of the observing mind, that,
within a recent period, a rem arkable degree of public interest has been
directed to the industrial arts, as a branch of enterprise, w hich should be
especially fostered. T his is not only true of our own country, w here in ­
dustry has ever been respected, but in Paris, w e have noticed that within
the last year, a splendid exhibition has been opened, w hich excited great
interest in the capital of F rance. W ith us, annual fairs, of a more local
character, are held in almost every state in the Union, which have no im ­
mediate connection with the American Institute, but designed to advance
the same general objects, the improvement of the agriculture, the m anu­
factures, the commerce, and the mechanic arts of the country. N o one




The Question f o r Accountants.

446

w ill d e n y th a t th e d e s ig n o f th o s e in stitu tio n s is sa lu ta ry , b e c a u s e th e y
te n d to sh e d n e w lig h t u p o n th e se v e r a l su b je c ts w h ic h th e y a r e d e sig n e d
to a d v a n c e , e n c o u r a g e d o m e stic e n te r p r ise , and g iv e to su b sta n tia l m er it its d u e r e w a r d , b e sid e s im p r o v in g th e g r e a t in te r e sts fo r w h ic h th e y
w e r e e s ta b lis h e d . T h e y p ro d u ce, m o r e o v e r , a n o th e r b e n e fit, in s o far as
th e y in d u c e a s s e m b la g e s o f r e s p e c ta b le and e n te r p r isin g m e n , for p u rp o ses
o f jo in t c o u n c il, m u tu a l a n d p a tr io tic d e lib e r a tio n .
It is o b v io u s th a t w ith th e a d v a n c in g p r o g r e ss o f th is n a tio n , w e h a v e
im p r o v e d in a ll th o se b r a n c h e s o f e n te r p r ise w h ic h e s s e n tia lly co n trib u te
to th e p u b lic p r o sp e r ity . U p o n th e first c o lo n iz a tio n o f th e s o il, w e w e r e
d e fic ie n t in m a n y o f th o se im p r o v e m e n ts w h ic h m a rk th e p r e s e n t d ay.
T h e p e o p le o f th e c o u n tr y w e r e e m p lo y e d in c le a r in g a w a y th e fo rests, in
o rd er to la y th e fo u n d a tio n s o f th e g o v e r n m e n t, a n d in d e fe n d in g th e
fr a m e w o r k o f th e e d ific e a fte r it w a s e r e c te d . B u t th e a r ts o f w a r h a v e
y ie ld e d to th e m ild b u t m o r e sa lu ta r y e n e r g ie s o f p e a c e . T h e a g r ic u l.
tu r a l in te r e st is p u rsu ed w ith m o r e s c ie n c e , a n d w ith g r e a te r s u c c e ss.
T h e fin e r d e p a r tm e n ts o f th e arts h a v e y ie ld e d in n u m e r a b le and
b ea u tfu l s p e c im e n s o f in d u stria l s k ill. N e w an d im p ro v ed fo rm s o f m ac h in e r y h a v e b e e n in tro d u ced o r in v e n te d , in c r e a s in g th e a m o u n t o f a rti­
c le s p ro d u ced , a n d d im in is h in g th e p r ic e s o f p ro d u cts. N e w b r a n c h e s o f
e n te r p r iz e h a v e b e e n a d o p ted , an d th e v a r io u s in te r e s ts o f A m e r ic a n e n ­
te r p r ise h a v e b e e n p u rsu ed w ith m o r e in te llig e n c e a n d s u c c e s s .
It c a n s c a r c e ly b e d e n ie d th a t th is im p r o v e m e n t h a s b e e n , in g rea t
m e a s u r e , a d v a n c e d th r o u g h th e a g e n c y o f th e A m e r ic a n In stitu te , and
o th e r in stitu tio n s o f sim ila r c h a r a c te r . T h e y c o n stitu te th e r a lly in g p la c e s
o f th o u g h t, c o n n e c te d w ith th e p u b lic in d u stry , an d th e p o in ts o f d ep a rtu re
to fu rth er im p r o v e m e n t. T h e ir in flu e n c e is fe lt in th e g r e a te r u n ity o f
in d u str ia l a c tio n , in th e e le v a tio n o f p a tr io tic h o p e s, a n d in th e su b sta n tia l
im p r o v e m e n t o f th e c o n d itio n o f th e p e o p le . W e tru st th a t th e y m a y go
o n a n d w o r k o u t e v e n g r e a te r b e n e fits to th e n a tio n ; th a t th e y m a y ad­
v a n c e th e p u b lic m o r a ls, e le v a te th e n a tio n a l sta n d a rd , a n d c o n tr ib u te to
th e r e a l an d so lid g lo r y o f th e U n io n .
A kt. VI.—T H E Q U E ST IO N FO R ACCOUNTANTS.
To the Editor of the Merchants' M agazine:—

H a v in g s e e n th e so lu tio n g iv e n b y M r . J . W . W r ig h t, in th e O cto b er
n u m b e r o f y o u r v a lu a b le jo u r n a l, to h is q u e stio n for a c c o u n ta n ts, a n d b e ­
lie v in g th a t it is su sc e p tib le o f p r o o f th a t th e m o d e o f se ttle m e n t h e h as
a d o p ted , is lia b le to p ro d u ce d e c e p tiv e r e su lts, I ta k e th e lib e r ty o f re q u e st­
in g th e fa v o r o f y o u r c o lu m n s, fo r th e p u rp o se o f e x h ib itin g th a t proof.
In r e sp e c tfu lly e x p r e s s in g m y h u m b le d isse n t from th e v ie w s o f M r.
W r ig h t, it is p e r h a p s d u e to m y s e lf to sa y , th a t I c a n n o t b e lo o k e d upon as
a r iv a l, n e v e r h a v in g , o r e x p e c tin g to w r ite , a tr e a tis e o n B o o k -k e e p in g —
m e r e ly p r o fe ssin g to k n o w s o m e th in g o f th e p r in c ip le s o f th e art, and o f
th e th e o r y a n d p r a c tic e o f a d ju stin g in tr ic a te a c c o u n ts.
W ith r e g a r d to th e v a r io u s form s o f m a k in g e n tr ie s a n d c lo s in g b ook s,
it is m o r e a m a tte r o f ta s te , ( i f I m a y u s e th e e x p r e s s io n in su ch c o n ­
n e x io n ,) th a n im p o r ta n c e . B o o k s m a y b e c o r r e c tly k e p t in v a r io u s w a y s,
an d th e sa m e tr a n sa c tio n s m a y b e p r o p e r ly sta te d u n d er d ifferen t form s.
N o t so w ith th e r e su lt to b e o b ta in e d from k e e p in g a se t o f b o o k s, o r from




The Question f o r Accountants.

447

stating a particular transaction. T here can be but one true re s u lt; there
may be many erroneous ones. T he only proper test of the truth of a
statement, is to prove the result by a counter calculation.
I have found the following rules to be useful in reducing the principles
of book-keeping to practice in actual business. Study accu racy ; combine
brevity with perspicuity; harmonise them as much as possible ; but never
sacrifice one to the other. State the transactions as directly as their na­
ture will admit of, with as little circumlocution as possible.* Nominal
accounts must be used in book-keeping, and there is no danger of their
misleading any one ; and nominal amounts may be allowed while a trans­
action is in suspense ; but in closing a set of books, they should be entirely
discarded, and those sums only used, which the property really repre­
sents.
In the solution given by Mr. W right, he states that he has decreased
his capital $15 22. In a statem ent I had made of the question, the capi­
tal was reduced $295 22. T he difference in the two results, arises from
the fact of his closing his books with the cloth on hand, estimated at its
first cost; w hereas, in my statement, it is put down at its actual value.
Although it may answ er sometimes in closing a set of books, w here
there has been no g reat variation in prices, to take an account of the
merchandise on hand, at cost, yet, w henever there has been any palpa­
ble reduction in value, it does not show the true state of the case, to set
down property at a valuation it no longer rep resen ts; and such a mode
of settlement is, therefore, deceptive.
Supposing that as soon as the m erchant to whom those books belonged,
(as stated in the question,) had been called upon by Mr. Goodman, for the
payment of the balance due him, he would bo led to infer from his books,
as kept by Mr. W right, that, as the capital was decreased only $15 22,
he would only w ant that sum, to be able to settle in full for the amount
he had borrowed to trade with.
But let us test the accuracy of such a result by the following plan :—
H e owes Mr. Goodman..................... .. .$3,000 00
“ “
M r. Caleb W ..............................
104 00
$3,104 00
To pay this, he has in cash,.....................................$1,688 78
And, in 14 pieces blue cloth, worth per last
sale only $80 each,............................................ 1,120 00

2,808 78

Deficiency of ca p ita l,.................................. $295 22
This, I think, proves the deceptiveness of the mode adopted by Mr.
W right. For, although a m erchant, during his trading, could not be con­
stantly changing the valuation of his stock, to conform to the fluctuations
in the prices of property, yet, I contend, that, if he w ants to close his
books, and ascertain the actual condition of his affairs, he will be liable
to be deceived, if he estimates his property at a sum it no longer rep re­
sents.
* I apprehend that Mr. Wright’s plan of making use of a stock account, where a mer­
chant borrows all his capital, would, in actual business, be deemed a work of surplusage.
The balance of profit and loss account, in such a merchant’s books, would, if on the debit
side, exhibit the deficiency of assets, without the necessity of a stock account.




448

The Question f o r Accountants.

T o illustrate my position, I will mention one or two cases in point,
which have actually occurred, and have come under my own observation.
A gentlem an engaged in business, hearing his neighbors speak of the
advantages of “ taking stock,” concluded he would do the same. H e ac­
cordingly set about i t ; put down the various articles he had on hand, at
cost, and on completing his work, and summing up, was much gratified to
find himself richer than he had before supposed. H e was induced to in­
dulge himself and family in many things, which previously he thought he
could not afford. T he next year he found him self em barrassed, and then
discovered that he had deceived him self in valuing his stock at cost;
w hereas, from the unsaleableness of some articles, and the inevitable de­
terioration that all goods undergo more or less, by being kept, the stock
w as not, in the aggregate, worth by a considerable sum w hat it cost.
Another case is this : two individuals who had been doing business to­
gether, agreed to dissolve copartnership. T hey came to me to make a
settlement betw een them. T he party who was to continue the business,
had agreed to take the property of the firm, at. cost. I was much surprised
at th is ; but as they did not come to me for advice, (only to carry out and
fulfil w hat they had previously agreed upon,) I did nothing more than
m ake an incidental rem ark about it, and the thing passed off. Several
months afterwards, the partner who had continued the business, came to
me and expressed his astonishment that he should so have deceived him­
self, as to take the stock of his late firm, at cost, w hen any other person
could have bought it for less. H e left me with a determ ination to write
his former partner, and propose a new settlement. But with w hat suc­
cess I never heard, as one w ent away, and the other died. Y et another
instance is the case of an adm inistrator, who, on his first examination of
the books of the deceased intestate, stated that his estate was worth
$20,000, after all debts w ere paid. H e afterwards, however, found that
he too had deceived himself, and discovered that the estate was barely
more than solvent, he having, in the first instance, valued the property at
cost, when it by no means represented that value.
Now, the mistake in all these three cases, arose from the same cause,
viz., assuming a nominal value as the true value of the property on hand,
w hen it was not. And this is precisely w hat is done in the solution of
Mr. W right, when he assumes the value of the 14 pieces blue cloth at
cost ($1,400,) instead of their actual worth at the closing of the books,
($1,120,) making a difference of $280, which is just the difference be­
tw een the result obtained by m e,....................................................... .$295 22
And that procured by Mr. W rig h t,............................ 15 22
E rro r in Mr. W right’s account,................................ $280 00
Fortunately for accountants, the principles of book-keeping, are fewer
and more certain, and the modes of applying those principles more in
subjection to the laws of common sense, than would appear to be the case
w ith the principles and practice of the English law, from the differences
of opinion entertained by the learned judges respecting the counts in the
late “ m onster indictm ent.” I question very much w hether there can be
a difference of opinion as to the deceptiveness of the result contained in
Mr. W right’s solution.
I have confined my critique mainly to the result given by Mr. W right,
in w hat he calls the “ exact” solution of his question. H is plan may be a




A rt and Science applied to Commerce.

449

good one, although I doubt the practicability of anticipating every variety
of cases th at may occur in business, or of stating examples, so that a great
many required adjustments shall not be provided for. It is to be reg ret­
ted that Mr. W right should have thought it necessary for the advance­
ment of his own work, not only to disparage those of others, but to cast
reflections upon the -Competency of a useful and industrious class of men.
I learned book keeping, not from any printed treatise, but from an un­
published manuscript essay of a practical m erchant and accountant. Still
I have examined several of the treatises published both in this country
and Europe, (one of which was w ritten by my m aternal grandfather,*)
and have seen in all of them more or less to approve.
W ith great regard, I am, Mr. Editor,
Your much obliged servant,
W i l l i a m B. H e k i o t .
Charleston, S. C ., October 10, 1844.
q u estio n fo e acco un tan ts .

Tw o individuals bought a vessel together for the sum of $800, w hich
was much less than her real value. O f the purchase money, A paid $500,
and B $300. Afterwards a third person, C, having a profitable trade to
employ her in, proposed to buy h e r ; but A and B refused to sell. It w as
finally agreed among them that C should have a third of the vessel, and
that all three owners should have an equal share in her. It was stipu­
lated, however, that C should pay for his third, a sum equal to w hat A
and B had paid for the whole, viz : $800. C accordingly paid this sum to
A. H ow is this sum of $800, received from C, to be divided betw een A
and B ? Or how much has A to retain, and how much to pay to D ?

A rt. VII.—A RT AN D SC IE N C E A P PL IE D T O COM MERCE.
SH IP BUILD ING— P IN E WOOD.

I t is w ell known that in some parts of V irginia and in N orth Carolina,
says the Boston M ercantile Journal, edited by Mr. Sleeper, an experienced
ship master, there are immense forests of pine, commonly known in com ­
merce as Georgia pitch pine, w here the trees are of large size, and a vast
number of them are found on an acre of land. T he soil is generally poor,
and unsuitable for cultivation— offering but little inducement to settlers—
and hence these trees are used only for the purpose of fuel, or for lumber,
or for procuring tar and turpentine, great quantities of which are exported
from North Carolina.
It is not so generally known that for many purposes, pitch pine lumber
is by far the best which can be used, it being stronger and more durable
than other species of wood found in Europe or America. T h e trees may
also be found of any reasonable size ; and it will thus be seen that for the
keels of vessels, for beams, for carlins, & c., as well as for planks for the
sides and bottoms of ships of every description, the pitch pine is decidedly
the most valuable wood which can be procured.
Our attention was lately directed to an article in a work published some
*T he late Benjamin Booth, formerly of New York, afterwards of London, whose sys­
tem of Book-keeping is referred to in McCulloch’s Commercial Dictionary.




450

A rt and Science applied to Commerce.

years ago, in which is recorded the results of numerous experiments made
in London by Col. Beaufoy, to test the strength of various kinds of wood.
From these trials it appeared that pitch pine wa» the strongest wood,
which was te ste d ; next to that was the English oak, w'ith straight and
even fibres ; then the English oak, irregular and cross-grained ; fourthly,
the R iga fir ; and fifthly, the Dantzic oak. By caliihg the strength of the
pitch pine 1,000, that of the E nglish oaks would be 980 and 867, R iga fir
782, and Dantzic oak 663.
Again, Barlow, on the strength of timber, describes the results of some
experiments, w here the pieces used were two inches square, and extend­
ed five feet from the fulcrum, as follow's :—
Riga fir,..................................pounds
Yellow pine,......................................
Pitch pine,.........................................
W hite pine,.......................................

169
189
256
109

Ash,......................... .
T eak,.................................................
Dantzic oak,........... ........................
English oak,........... ........................

274
167
234i

It appears from this result, that the teak wood, a resinous tree which
grows in the E ast Indies, is the strongest wmod used in ship-building; that
next in value is the pitch pine, w hich is produced in such great abundance
on our shores ; the English oak stands the third on the list, and ash the
fourth. W e have seen no results of experiments to ascertain the strength
of the various kinds of Am erican oaks. T he oak tim ber from the banks
of the Rappahannock, is generally considered but very little inferior to the
best E nglish oak.
Our object, however, is chiefly to direct the attention of ship builders
to the strongest wood which can ire procured in this country, and its excel­
lence for planks, beams, &c. W e understand that, the vessels built in
the vicinity of Boston, lately, have been entirely planked with pitch pine,
and we hope that this kind of tim ber will be used more freely in the con­
struction of our national vessels, than has hitherto been the case.
IM PROVEM ENT IN T H E M ANUFACTURE OF IKON.

I t is stated in an E nglish paper, that the attention of the ironmaster
has been attracted to a process of considerable importance lately intro­
duced into their manufactures. T he application of electricity, to super­
sede several of the expensive processes, has been tried in the W elsh and
D erbyshire furnaces with satisfactory results. It appears that the costly
fuel and labor required for the purification of the ore from sulphur, phos­
phorus, and such subtle elements, create its high m arket value ; and these
being all electro-negative, have induced the new process, w here, by the
impure stream of metal, after flownng from the blast, is, in its moment of
consolidation, subjected to a powerful voltaic battery, which so disengages
the impure opponents, that in the process of puddling they are readily ex­
tracted. T he London blacksmiths, it is stated, have tested this iron after
a single re-heating, and pronounced it equal to the best m etal in the mar­
ket. By the same process, an experiment was tried by D r. lire , by whom
a soft rod of iron was held in contact with a moderate red h e a t; and that
gentlem an is understood to have stated that in a few hours the metal was
converted into steel. Should these facts prove w hat they seem, they are
calculated to affect most seriously this important branch of our trade.




Monthly Commercial Chronicle.

451

MONTHLY COMMERCIAL CHRONICLE.
I n a former number, we remarked that an advance had taken place in the value of mo­
ney, from artificial causes, which must necessarily be temporary in their operation ; and
that, therefore, a decline in rate might speedily be looked for. This has taken place, and
money is very abundant at 5 per cent, for mercantile paper. The last returns of the banks
show a considerable increase in their loans, which is necessary to maintain dividends, in
the low rate of money. The nature of the loans does not, however, appear to be of the
best character. A change in the manner of doing business has, in some degree, been pro­
duced by the situation of the markets. The imports during the past year have shown a
great increase over the previous year, and are much larger than the wants of business re­
quire. The markets have, in consequence, presented a glut, with a downward tendency
in prices that has induced city dealers to extend their credits to country dealers to a con­
siderable extent, and to depend on bank discounts to meet their own engagements. The
import, as indicated in the business of New York, has been as follows:—
I mports into the P ort of N ew Y ork , for the year ending 2 0 t h S eptem ber .

4th qr.,,,
1st qr., .
2d qr., .
3d qr.,,.

1843.
1844.
Free.
Dutiable.
Dutiable.
Total.
Total.
Free.
$2,706,821 $3,574,731 $6,281,552 $2,050,484 $7,971,622 $10,032,106
2,799,149
5,906.616
8,705,765
2,070,877 16,959,728 19,030,605
9,145,115
6,979,795 16,124,910
4,585,383 15,063,974 19,649,357
2,442,987 13,112,758 15,555,745
2,763,558 23,926,660 26,690,218

Total,. . $17,094,072 $29,573,900 $46,667,972 $11,470,302 $63,921,984 $75,092,286
34,348,084 28,424,314
Deer.,..
$5,623,770
The decrease in free goods is mostly in specie. The total increase in consumable goods
is over 116 per cent, and the duties collected have been as follows:—
I n c r .,...

C ustoms D uties , P ort of N e w Y ork , 1843 and 1844.

Years.
1843,.
1844,.

4th Qr.
$1,168,680
2,534,163

1st Qr.
$1,876,874
5,537,023

2d Qr.
$2,578,855
5,478,588

3d Qr.
$4,310,814
7,829,946

Total.
$9,934,923
21,379,720

Incr.,.

$1,365,483

$3,660,149

$2,889,733

$3,519,132

$11,444,797

The increase in duties bears the same proportion as the increase in dutiable goods. The
exports of the port of New York, for the same period, have been as follows:—
E xports of the P ort of N e w Y ork , for 1843 and 1844.

4th
1st
2d
31

qr., .
qr., .
qr.,,.
qr..,.

1843.
1844.
Dom. goods. For. goods.
Total.
Dom. goods. For. goods.
Total.
$4,030,468 $1,105,059 $5,135,527 $4,916,771 $1,298,887 $6,215,658
4,570,793
829,876
3,875,286
715,507
6,385,089
7,214,925
6,225,764
8,291,635
1,612,474
9,904,109
4,755,386
1,470,378
2,119,816
6,386,111
4,268,295
8,000,000
3,000,000 11,000,000
$19,949,435 $5,410,760 $22,360,195 $27,593,495 $6,741,197!$34,334,692

The exports from the port of New York form no index, whatever, to the export trade
of the country; because the proportion of the whole export sent from this port is so small,
and fluctuates to so great an extent. The imports, on the other hand, form very generally
two-thirds of the whole amount brought into the country. The drawback on imported
goods has been as follows:—
D rawback on F oreign G oods exported from N ew Y ork .

Years.
1843,............
1844,............

4th Qr.
$138,006
132,134




1st Qr.
$112,137
113,892

2d Qr.
$183,021
172,635

3d Qr.
$165,877
230,000

Total.
$599,041
648,661

Monthly Commercial Chronicle.

452

The imports into the port of New York, for several years, have been as follows:—
Q uarterly I mports into the P ort of N ew Y ork.

Years.
1832,....... ..
1833,.......
1834,.......
1835,.......
1836,.......
1837,.......
1838,.......
1839,.......
1840,.......
1841,.......
1842,.......
1843,.......
1844,.......

st Qr.
§18,637,978
12,333,948
20,635,918
16,404,141
26,756,312
36,591,650
16,583,561
28,110,818
16,940,786
21,933,890
20,687,030
8,705,765
19,030,605

2d Qr.
3d Qr.
4th Qr.
Total.
§11,347,018 §10,976,281 §5,807,691 §46,768,968
16,297,190
21,079,873
11,233,033
60,944,044
20,578,745
20,276,504
15,384,198
76,875,376
22,453,541
33,491,833
16,954,593
89,304,108
37,937,582
36,052,430
18,139,870
118,886,194
17,807,206
12,004,980
7,970,722
68,374,558
17,026,091
21,915,547
21,689,530
77,214,729
22,748,183
31,598,322
14,621,364
97,078,687
10,647,872
11,402,346
17,854,920
56,854,924
18,736,421
23,285,626
11,312,078
75,268,015
6,281,552
18,724,686
9,722,287
52,415,555
16,124,910
10,022,106
15,455,745
50,308,526
19,649,357
26,690,218
T he imports of the second and third quarter have been larger, it appears, than in any
year since 1839. These goods have been, added to the increased production of American
manufacturers, greater than can find sale; and the dependence upon bank facilities to
work them off, has improved the business of the institutions. The progress of bank divi­
dends is apparent in the periodical returns of the Boston banks, which have been as
follows:—
B oston B ank D ividends .
1842.
A p r i l , 1843.

O ctober,

B a n k s.

Atlas,..........
Atlantic, . . .
Boston,........
Citv,............
Columbian, .
Eajlle,.........
Freeman’s,..
Globe,..........
Granite,.......
Hamilton, ..
Massachu., *
Market, ---Mechanics’, .
Merchants’,.
N. England,.
N orth,.........
Shoe & Leather Deal’rs,
Shawmut, ..
S ta te ,..........
Suffolk, . . . .
Tremont, ...
Trader’s ,....
U n io n ,........
Washington,

Capital. D ividend.

2i p. c.
3 “
3J “
2 “
3 “
none.
3 i p. c.
3 “
2J “
3 «
$7p. sh.
3 p.c.
2 “
3i “
3 “
2 “

$12,500
15,000
21.000
20,000
15,000

500,000
500,000
1,800,000
1,000.000
500,000
400,000
800,000
500,000

31 “
3 “
3J “
4 “
none.
none.
31 “
4 -

$17,010,000
Dividend, April, 1842,

A p r il ,

A in't.. D ividend. A in't . D ividend
$12,500 21 P- c.
2 b p. c.

$500,000
500,000
600,000
1.000,000
500,000
500,000
150.000
1,000,000
500,000
500,000
800,000
560,000
150,000
2,000.000
1,000,000
750,000

1844.

3 “
31 “
2 “
3 “
3 ‘
3* ‘
31 ‘
3 “
3 ‘
$7 p.sh.
3 p. c.
21 ‘
3* 1
3 ‘
O it

15,000
21,000
20,000
15,000
15,000
5,200
30,000
15,000
15,000
22,400
16,800
3,075
70,000
30,000
15,000

31
21
2
21
3£
3
2
2
2
3
3
3
21
2
3

“
“
“
“
“
“
“
“
“
“
“
“
“
“
“

none.
$12,500
21,000
25.000
10,000
12,500
5,250
30,000
10,000
10,000
16,000
16,800
4,500
60,000
25,000
15,000

17,500
15.000
60,000
40,000

3 ‘
2.1 ‘
3 ‘
4 ‘
2 “
none.
24.000 3 p. c.
13,750 11 “

15,500
10,250
54,000
40,000
10,000
....
24,000
7,500

21
2
4
21
2
.
21
Q

“
“
“
“
“
“
“
“

15,000
12.500
36,000
40.000
12,500
8,000
20,000
8,750

$471,150

$481,475
442,900

5,200
30,000
12,500
15,000
22,400
16,800
3,000
70,000
30,000
15,000

Increase,.

.

O ctober,

1844.

A in 't . D ividend. Ain't.

3 p. .
2b

3*
2*
21
3
31
3
3
21
21
3
3
3
3
21

$15,000
12,500
21,000
25,000
12,500
15,000
5,250
30,000
15,000
12,500
20,000
16,800
4,500
60,000
30,000
18,750

It

U
“
it

((
“
U
((
((
“
ti
“
«

Cl
it
«
21 (
4 “
21 “
3 «
01 <(
2 ((

15,000
12,000
45,000
40,000
12,500
12,000
20,000
10,000

3

2b

$480,000

$426,300

•

$38,575

This gives six dividends on a capital of §17,000,000, as follows:—
April, 1842,..
October, 1842,.............
April, 1843,..

§442,900
471,150
481,475

October, 1843,......
April, 1844,..........
October, 1844,......

§417,000
426,300
480,000

This is the largest October dividend, and shows considerable improvement in the pro­
fits of the banks during the past summer. Notwithstanding the low rate of money, as
compared with 1843, there is an increase of 15 per cent in the profits, which probably
arose from an extension of credits in that proportion. Neither banks or stocks, however,
seem to command confidence, as a means of investment. The experience of past years
has been such, as to prevent much disposition to put money in banking concerns, which




Monthly Commercial Chronicle.

453

are exposed to such disastrous revulsions as has been experienced within a few years. In
the stocks of the states, there is little disposition to invest, except in the best descriptions,
as New York and federal government These have been bought up, however, and can­
not be obtained at rates which yield more than 4 f per cent In other sorts, the quantities
upon the market, and the uncertainty in relation to the course of the delinquent states,
prevent many purchases for investment; and the stock market presents large quantities
floating in the hands of speculators. The following are the prices at which the latest
transactions have taken place:—
P rices of S tocks in the N e w Y ork M arket .

Rate. Red’mable.
U. States,. 54 1844
«
6
1844
ft
6
1862
it
5
1853
1848—40
N. York,.. 7
it
6
1850-54-60
ft
6
1861-62-67
it
5 4 1860-61-65
it
1845
5
ft
5
1846-7-8-9
it
5
1850-51-57
tt
1855-58
5
it
5
1859-60-61
ti
44 1849-58
«
1853
7
Ohio,........ 6
1850
it
6
1856-60
tt
5
1850-56
Kentucky,. 6
Illinois,.... 6
1870
Indiana,... 5
25 years.
Arkansas,. 6
Alabama,.. 6
5
Penn’a ,.... 5
Ten’ssee,. 6
N. Y. city, 7
1857
ft
7
1852
it
5
1850
a
5
1858-70

April, 1843.
a
a
a
112
113
a
105 a 106
103 a 105
103 a 105
97 a 98
97 a 98
... a
a
93 a 94
94 a 95
87 a 8 8
a
69 a 70
67 a 6 8
54 a 55
89 a 894
23 a 234
25 a 26
2 8 4 a 30
50 a 60
a
41 a 42
a
107 a i i o
106 a 108
94 a 95
94 a 95

October.
a
a 1024
a
1144
1154
103 a 1 0 3 4
107 a 108
107 a 1074
107 a 1074
102 a 1024
a 100
99 a 100
99 a 1 0 0
98 a 99
99 a 99
91 a 93
a
944 a 94 f
95 a 954
8 2 4 a 83
974 a 98
354 a 364
35 a 354
38 a 45
60 a 67
58 a 60
61 a 6 1 4
90 a 92
111 a 1 1 2
107 a 108
99 a 994
994 a 1 0 0
101
102J

February.
October 16.
a 102 1 0 0 | a 1004
1024 a 102 j 1004 a 1004
1154 a 1 1 5 4 1 1 0 4 a 1 1 7 4
103 a 104 1054 a 106
1074 a 1 0 8 4 1074 a 1 0 8 4
106 a 109 1094 a 1094
1074 a 108 1 1 1 4 a 1 1 2 4
1034 a 104 105 a 1054
1 0 0 4 a 101
1014 a 1014
1 0 0 a 1014 1 0 1 4 a 1 0 2 4
101 a 1 0 2 4 104 a 105
1 0 1 4 a 1 0 2 4 104 a 105
1 0 0 a 101
104 a 1 0 4 4
92 a 98
96 a 98
a
108 a IO8 4
95J a 97 1 0 1 4 a 1 0 U
97 a 984 1 0 1 4 a 1 0 2 4
92 a 99
87 a 90
1 0 2 4 a 1 0 2 4 1044 a 105
424 a 424 46 ;a
464
34 a 37 414 1a
45
57 a 60 50 ;a
58
87 a 92
a
80 a 82 81 1a
8I4
a 6 6 4 74A ia
744
1 0 0 a 102 1044 i1
114 a ... 117 11 118
111
a 112 110 a 112
a 1 0 0 ... !1
994 a 1 0 0 1 0 2 11 1034

The speculations were mostly in the non-dividend-paying railroads, although the Ohio
have been influenced, in some degree, by the supposition that, in case the new legisJature passes a free banking law, on the plan of that of New York, making Ohio stock
the basis of a paper circulation, a demand for that purpose will cause an advance in the
stock. Railroads are, however, fast growing in public favor, from' their permanency, safe­
ty, and the fair profits which they yield. The -immense increase in their receipts, this
year, have directed public attention to them ; and there is every prospect that the surplus
capital of the country will take that direction for investment.
The apprehensions that were entertained early in the summer, that an export of specie
would take place during the autumn, have passed away, although foreign bills have no­
minally advanced to 10 a 104 per cent This advance of J a 1 per cent, however, expresses
rather the depreciation of the gold in our banks, subject to export, than any real improve­
ment in the value of the bills ; the actual demand for remittance, as compared with sup­
ply, being rather diminished, as the month draws to a close. Some considerable ship­
ments of silver, amounting in all to near $2,000,000, consisting chiefly of Mexican dolIars;
to France, have been m ade; the rate of exchange favoring the export of silver, when
gold will not reimburse a shipment. The following is a pro forma account of a shipment
6 ’s




«

Monthly Commercial Chronicle.

454

of Mexican dollars to France and England, the calculations by J. F. Entz, Esq., of the
New York Life Insurance and Trust Company:—
P ro forma A ccount of a S hipment of M exican D ollars from Y e w Y ork to L ondon.

20,000 dollars purchased at 1 | per cent premium,........ ..........................
Cost of 4 barrels, packing charges, cartage, &c.,........................................
Insurance, at £ per cent., on $20,350,.... ...........................
$101 75
Policy,.............. •........................................................................
1 25
-----------Total cost in New York,.

$20,350 00
10 75
103 00
$20,463 75

The same 20,000 dollars, weighing 17,320 ounces, and sold at 4s. 10£d
per ounce,...................................................................................................... £4,194 13 10
Charges—Freight per packet, £ per cent,............................ .£10 8 4
Primage, 5 per cent,................................................................
10 5
Landing charges, postages, &c.,.............................................
1 5 9
Brokerage, £ per cent,.............................................................
5 4 10
Commission, £ per cent.,..........................................................
20 19 6
38 8 10
N ett proceeds, cash,............................................................................ £4,156 5 0
Add interest of about 45 days, at 4 per c t, until the draft drawn against
the shipment becomes due,...........................................................................
20 15 7
Total,................................................................................ ...................

£4,177

0 7

This amount, drawn at 60 days’ sight, to realize the above $20,463 75, the rate cf ex­
change would have to be 110 23-100 per cen t; which shows tha!t the shipment would not
be profitable, unless at least 110^ per cent could be obtained for the draft Without com­
mission in London, the rate would be 109.67.6., or about 55-100 less.
The following is a table by which the rate of exchange may be ascertained, at any given
price for silver, in London:—
T able showing the R ate of E xchange produced b y a shipm ent of S panish , M exican,
U nited S tates , or other D ollars , from N ew Y ork to L ondon.
PREMIUM
DOLLARS IN NEW YORK.
Lcndon price
par. £ per ct. 1 p. ct. 1A p. ct. 2 per ct. 2A p. ct. 3 p. ct. 3£ p. ct. 4 p. ct. 4J p. ct. 5 p. c t
per ounce.
110.06 110.61 111.16 111.70 112.25 112.80 113.35 113.89 114.44 114.99
Pence, 57£... 109.52
57f. . . 109.28
109.82 110.37 110.92 111.46 112.01 112.55 113.10 113.65 114.19 114.74
109.59 110.13 110.68 111.22 111.77
112.31 112.86 113.40 113.95 114.49
5 7 $ ... 1G9.04
109.35 109.89 110.44 110.98 111.52 112 07 112.61 113.16 113.70 11424
574.-. 108.80
109.11 109.65 110.20 110.74 111.28 111.83 112.37 112.91 113 45 114.00
5 8 .... 108.57
108.34 108.88 109.42 109.96 110.50 111.04 111.58 112.13 112-67 113.21 113.75
108.10
108.64 109.18 109.72 110.26 110.80 111.34 111.88 112.43 112.97 113.51
107.87
108.41 108.95 109 49 11003 11057 111.11 111.65 112.18 112-72 113.26
107.64 108.18 108.72 109-25 109.79 110-33 110-87 111.41 11194 112.48 113.02
107.41
107.95 108-48 109 02 109-56 110 09 110.63 111.17 111.70 112.24 112.78
107.18
107.12 108.25 109.79 109-32 109.86 110.40 110.93 111.47 11200 112.54
106 95
107.49 108.02 108.56 109.09 109 62 110.16 110.09 11123 111.76 112.30
106.73
107.26 107.79 108.33 108.86 109.39 109.93 101.46 110.99 111.53 112.06
E xample .—Mexican dollars costing 1£ per cent premium, and sold in London at 58 J

pence per ounce, are equal to an exchange of 409.96.
The intermediate prices for dollars are found by taking the difference as follows, viz:—
Dollars, at l£ per cent, and 58 pence,..................................................
1 per cent=109.65
1*
« = 110.20
Difference,....................................................................................
One half of this, or 27£, added to 109.65=109.92.

.55

P ro form a A ccount of a S hipment of M exican D ollars from N e w Y ork to P aris .

20,000 dollars, purchased at I f per cent premium,...................................
Cost of 4 barrels, packing charges, &c.,........................................................
Insurance, at £ per cent, on $20,350,...................................
$101 75
Policy,........................................................................................
1 25
-----------Total cost in New York,,




$20,350 00
10 75
103 00
$20,463 75

Monthly Commercial Chronicle.

455

The same 20,000 dollars sold in Paris at f. 5.34,.........................................
Charges in Havre—Import duty, and permits,........................... f. 12.40
ft
Cartage, cooperage, postages, &.c.,.,
20.10
ct
Freight, ^ per ct. on $20,000,.......
$50
tt
Primage, 10 per cent,....................
5
"$55
288.75
At f. 5.25,...............
114.50
Charges in Paris— Freight,.................................................
a
6.50
Viewing and delivering,.....................
u
Brokerage, § per cent,...................... .
133.50
534.00
Commission, ^ per cent,.....................
"

f. 106,800 00

Nett proceeds, cash,............................................................................
Add interest of about 45 days, at 4 per c t, until the draft drawn against
the shipment becomes due,....................................................... -...............
Total,.......................................................................................................

£• 105,690.25

1,109.75

528.45
f. 106,218 70

This amount, drawn so as to realize the above $20,463 75, the rate of exchange would
have to be 5.19-; which shows that, unless this rate could be obtained for the draft, the
shipment would not answer. Without commission in Paris, the result would be 5.21.6.,
or £ per cent more. The steamers charge per cent freight, but the additional expense
is nearly compensated by the interest of about 15 days, thereby gained.
T able showing the R ate of E xchange on P aris , produced b y a S hipment of S panish ,
M exican , or other D ollars , from N ew Y ork to P aris .
Paris p r ic e
p r e m iu m on d o l l a r s in n k w - y o r k .
per dollar.
par. \ per c t . 1 p. c t. IA p. c t . 2 p. ct. 2£ p. c t . 3 p. c. 3£ p. ct. 4 p. ct. 4£ p. ct. 5 p. c.
Francs, 5.30........... 5.24.2 5.21.6 5.10.0 5.16.4 5.13.9 5.11.4 5 08.9 5.06.4 5.04.0 5.01.6 4 99.2
5.32........... 5.26.1 5.23.5 5.20.9 5.18.4 5.15.8 5.13.3 5.10.8 5.08.4 5.05.9 5.03.5 5.01.1
5.34 ........... 5.28.1 5.25.5 5.22 9 5.20.3 5.17.8 5.15.3 5.12.8 5.10 3 5.07.8 5.05 4 5.03.0
5.36........... 5.30.1 5.27.5 5.24.9 5.22.3 5.19 7 5.17.2 514.7 5.12 2 5-09.7 5.07-3 5.04.9
5.38........... 5.32.1 5.29.5 5.20.8 5.24.2 5.21.7 5.19.1 5.16.6 514 1 5.11.6 5.09.2 5.06-8
5.40 ........... 5.34.1 5.31.4 5.28.8 5.26.2 5.23.6 5.21.1 5.18.5 5.16-0 5.13 6
5-11.1 5-08-7
5.42........... 5.36.1 5.33 4 5.30.8 5.28 1 5.25 6 5 23.0 5.20.5 5.17.9 5.15.5 5.13.0 5-10.6
5.44 ........... 5.38 0 5 35 4 5 32 7 5.30.1 5.27.5 5 24.9 5.22.4 5.19.9 5.17.4 5 14-9 5-12.4
5.46........... 5.40.0 5 37.4 5 34.7 5 32-1 5 29 5 5 26-9 5-24-3 5.21-8 5.19 3 5-16-8 5.14-3
5 48........... 5-42.0 5.39.3 5 26.7 5.24.6 5 31-4 5-28-8 5-26.2 5.23.7 5.21.2 5.18.7 5.16.2
5 50 ........... 5-44 0 5-41-3 5 38 6 5 36 0 5-33 3 5.30.7 5-28.2 5 25-6 5.23-1 5-20.6 5.18-1
.01............
1.0
1.0
1.0
1.0
1.0
1-0
1.0
1.0
1.0
1.0
0.9

E xample.—Mex. dollars costing 1£ p. ct., eold at f. 5.36, will allow to draw a t.
“
“
“
“
5.35,
“
“
.
The following is an account of sovereigns, as a remittance to London:—
1,000 sovereigns, bought in New York, at $ 4 90,....................................
Packing, shipping, bills of lading, &c.,.......................................
$ 3 50
Marine insurance, £ per cent; policy, $1 25,..........................
25 75
--------Total cost in New York,.......................................................................
Value in London,.................................................*........ ........., .........................
Freight, £ per cen t; primage, 5 per cent,................... ,.......
£5 5 0
Landing charges, postages, &c.,........-.................................
15 0

f. 5.22.3
5.21.3

$4,900 00
29 25
$4,929 25
£1,000 0 0

--------- 6 0 0

Proceeds,..................................................................................................
£994 0 0
$4,929 25 would buy a bill at 110.60 per cent, for.......... £1,002 15 5
Less 63 days interest, at 5 per cent,.....................................
8 15 5
--------------- £994 0 0
No commission is paid, or is included in this calculation.
The present price of sovereigns in New York is $ 4 84; but they are generally light,
and will average near 1 per cent under the sovereigns of the present reign, which alone
are currently received in London. Therefore, $ 4 90 would be the fair rate for full weight
sovereigns here ; but, as few such are to be obtained, a corresponding loss requires to be
submitted to on the other side. The following is a table showing the equivalent of a bill
at different prices of sovereigns in New York:—-




456

Monthly Commercial Chronicle.

Price of sovereigns in U. S.,. $ 4 82 $ 4 83 $ 4 84 $ 4 85 $ 4 86 $ 4 87 $ 4 88 $ 4 89
Equal to a bill at per c en t.... 108.80 109.03 109.25 109.48 109.70 109.93 110.15 110.38
The greater proportion of the gold here is of English coinage, and came here previous
to, and simultaneous with, the proclamation, calling in light gold for re-coinage; and, as it
remains in the vaults of the banks in the same shape in which it arrived, the effect is the
same upon exchanges as if the currency of the United States was depreciated, in compa­
rison with that of England. It is always a matter of profit for Europe to send her light
coins here, as long as there is no mint at the port of entry, by which it can be converted
into national coin, and made a legal tender only in that shape. If light sovereigns can
pass currently here, we are wantonly exposed to the evil from which the government of
England relieves itself, at great trouble and expense, by prohibiting the circulation of any
but full coin, of the present reign. Notwithstanding all the expense attending four mints
in operation, and one which has existed since the formation of the government, the na­
tional currency of the United States is in a most deplorable condition, because the mints
are located at the wrong place. The mint at Philadelphia was the only one, up to 1835.
In that year, three branches were organized—one at Charlotte, in the centre of the North
Carolina gold region, and another at Dahlonega, in the heart of the mines of Georgia;
the other at New Orleans, where the largest portion of silver is received from Mexico,
and where the metals, as the centre of the southwestern trade, concentrate. The neces­
sity of having these branches at the places where the metals are produced, or where they
accumulate, was fully recognized at their establishment; but, singularly enough, Boston
and New York, where two-thirds of all the specie that arrives in the country is received,
are without means of coinage. Of §23,000,000 of specie, received in the country last
year, §18,000,000 in gold came to New York and Boston, and very little of it was coin­
ed, because there was no mint. T hat in Philadelphia is of as little use as a branch located
in Detroit, to coin the gold of Georgia, would have been. The mint was located in Phi­
ladelphia when that was the seat of government; and it was idly supposed that the mint
should be with it, rather than at the centre of commerce. New York is now the centre
of commerce, and of the commercial exchanges. To this point, all the specie in the
country tends, at certain seasons ; and at others it is the point of concentration from abroad,
and from whence the imported metals radiate into all the channels of business, in all sec­
tions of the country. A mint situated here, would form the point to and from which all
the metals would tend. The actual expense of sending gold to Philadelphia, to be
brought back in the shape of American coin, is fully f per cent, counting the delay no­
thing, because the gold can remain in the mint at as little loss as in the bank vaults. This
expense is, however, an effectual bar to coinage. The specie in the vaults of the New
York and Boston banks is about §18,000,000. The expense of sending this to the mint
for coinage, would be full §135,000 ; an expense to which it is clear no company or indi­
viduals would voluntarily submit. Hence, with such large sums of gold, idle and useless
in the banks, the national coinage commands a premium of \ per cent in the street, be­
fore their doors. The gold is worth this premium, for the superior facility of its circula­
tion. It is known and recognized when offered in payments, and accepted readily;
whereas the foreign coins are not so well known, and disputes as to their value always
arise. They, therefore, although a legal tender, are scarcely available as a currency, and the
paper of the banks is taken in preference to a strange coinage, which, being a legal ten­
der, the banks will not go to the trouble and expense of paying out American gold, all
though it is frequently demanded. The location of a mint in this city would cause nearly
all the gold which arrives to be converted promptly into the United States coinage; and,
while the demand for that description of currency would thus be supplied, the foreign ex­
changes would be governed by the actual comparative values of the currency, according
to the governmental regulations.




Mercantile Law Cases.

457

M E R C A N T I L E LAW D E P A R T M E N T .
DECISIO N S IN T IIE SU PREM E COURT O F L O U ISIA N A *
SU IT TO RECOVER BALANCE OF AN ACCOUNT CURREN T.

In the Supreme Court of Louisiana, March 11, 1844. Mullandon vs. Martin. Judge
Garland presiding.
The plaintiff claims the sum of $1,798 50, the balance of an account current between
him and the defendant. The items in the account filed, are the balance of a former ac­
count rendered, and various charges of cash paid to the defendant, at different dates. The
latter answers by a denial of any indebtedness to the plaintiff, but sets up a claim in re­
convention against him for $6,000, for services rendered as master of the steam tow-boat
Pacific, which belonged to the plaintiff, for three years previous to May 1, 1839, at the
rate of $2,000 per annum, for which he prays for judgment. W hen the cause was called
for trial, the plaintiff offered no evidence to sustain his demand, but discontinued i t ; and
at the same time pleaded the prescription of one year to the demand in reconvention.
The defendant offered evidence to prove that, for about three years previous to May I,
1839, he was master of the steam tow-boat Pacific, belonging to the plaintiff, which was
engaged in towing vessels from New Orleans to the Balize, and to sea, and back again,
for hire. He proved that his services were worth $2,000 per annum ; and it is shown
that the plaintiff sold the boat about the 1st May, 1839. The demand in reconvention
was presented and filed May 27,1841, more than one year after the suit was commenced
on the account, and more than two years after the defendant had left the service of the
plaintiff. On the plea of prescription, the court below gave a judgment against the de­
fendant on his demand in reconverition, and he has appealed.
The plaintiff, to sustain his plea of prescription, relies upon article 3,499 of the Civil
Code, which provides that the action “ for the payment of the freight of ships and other
vessels, the wages of the officers, sailors, and others of the crew,” shall be prescribed by
one year. Upon this provision, apparently so clear, the counsel for the defendant have
based a long and ingenious argument, to prove that the master or captain of a ship or
steamboat is not an officer within its meaning, and that his wages are only prescribed by
ten years. They tell us that, among nautical men, the master of a merchant ship is not
considered or called an officer, and that he does not form a part of the crew. Upon this
subject, the record gives no information; but, as our code was framed by legal men, we
are to presume they looked to legal works for definitions, and the meaning of particular
words. Bouvier, in his Law Dictionary, vol. 2, p. 105, gives a definition of the term
“ master of a ship,” viz: “ the commander or first officer of a ship, a captain, &c.” The
definition given by Professor Wilson, of the words maitre de navire, is master, captain or
commander of a ship, vide Wilson’s French and English Dictionary—verbo maitre. The
Lex Mercatoria Americana, p. 131, says the master of a ship is he to whom is committed
the government, care, and direction of the vessel and cargo. In their nomination, the
amount of interest, not numbers, predominates; “ but when constituted, they, like all
other officers of the public,” are accountable, &c. The mate of a merchant ship is called
“ the first officer under the master,” p. 181. Curtis, in his Treatise on the Rights and
Duties of Merchant Seamen, p. 161, says, “ the master of a merchant vessel is that officer
to whom is entrusted the entire command of the ship,” &c., appointed by the owners, and
he stands towards them in a different light than towards third persons. Chancellor Kent
says, “ the captain of a ship is an officer to whom great power, momentous interests, and
large discretions are necessarily confided,” Ac. Notwithstanding these definitions, the
* Originally reported for the New Orleans Bulletin.
vol.

x i.— n o . v .




36

I

458

Mercantile Law Cases.

counsel insists that our code, and the acts of Congress, do not consider the master or cap­
tain of a merchant ship as an officer. They first refer us to article 3,904, Nos. 6, 7, 11.
It will be remembered that this article is one which states what privileges are allowed
upon ships and merchandise. The first clause gives a privilege to the captain for his
w ages; and it was probably thought necessary to name him, as the commercial law, from
motives of policy, did not give such a right The second clause gives a privilege for mo­
ney lent to'the captain, to purchase necessaries for the vessel. It was necessary to name
the captain, for the purpose of designating the officer to whom the money must he lent, to
entitle the lender to a privilege. We see nothing in the eleventh clause which can be
viewed as declaring that the captain is not an officer of the ship, or calculated to raise
such a presumption. It is the clause that gives the owners of goods or merchandise a
privilege for damages sustained through the fault of the captain or crew. Article 3,213
gives the captain a lien for the freight on the merchandise he transports in his ship, with­
out which he would have lost a right accorded by the commercial la w ; but does that prove
that he is not an officer? The right is given, not because the captain is not an officer, but
because he is the commanding officer. The mate would have the same right, if, by the
death of the master at sea, or any other such cause, he should become the commander of
the vessel. The name of captain implies an office, and conveys an idea of an officer in
the general understanding of the term. W e have been referred to the act of Congress of
3d March, 1835, section 3, to prove that the master is not an officer. It commences by
declaring that, if any master or other officer of any American ship or vessel on the hwh
seas, shall maliciously beat or imprison the crew, &c., he shall be punished, &c. These
words, master or other officer, the counsel tell us, do prove that the master is no officer,
and was not so considered by Congress. To sustain this assertion, we are referred to ano­
ther act of July 20th, 1790, section 3, which provides “ that if the mate, or first officer
under the master, and a majority of the crew of any ship or vessel,” &e. Now will not
the words “ mate, or first officer under the master,” as conclusively prove that the mate is
not an officer, as the words “ master or other officer” prove that the master is not an offi­
cer? It appears to us they do.
The counsel further rely upon a decision in 3 Sumner’s Reports, 209, to support their
view of the case. This was a prosecution under the act of Congress of 1835, against
the master of a ship, for beating and confining the mate ; and the question was, whether
the mate, who was called the chief officer of the ship, made a part of the crew. Judges
Story and Davis held that he did form a part of the crew ; and the opinion as clearly
proves that the master, too, is often included as a portion of the crew. In the piracy act of
1819, ch. 200, the public ships of the U. S. are directed to protect merchant vessels and their
crews from piratical aggression, &c. This expression as clearly includes the master and offi­
cers, as it does the sailors. So, in the piracy act of 1820, it is said if any person, being of the
crew or ship’s company of any piratical vessel, shall land, &,c., they shall be punished,
&c. There cannot be a doubt, we suppose, that these words would include the piratical
captain, if he were taken and prosecuted. In common parlance, we often hear it said
that “ the vessel was lost, but that the crew was saved.” Would any one infer from this
that the master was drowned, because, in technical language, he formed no part of the
crew, and was not an officer ?
The counsel, in relying upon the French authorities, seem to forget that it is a matter
of regulation in France, under the code of commerce, and various ordinances, which
keeps up a distinction between the master and his subordinates. There are different
grades of commanders; the captain, the master and patron, depending on the size of the
vessels they command, and the voyages they make, whether foreign or coastwise. We
have no doubt that the master of a merchant ship or steamboat is an officer within the
meaning of article 3,499 of the code, and that the action for his wages is prescribed by
the lapse of one year. W e do not think that, because the defendant chooses to call his




Mercantile Law Cases .

459

compensation a salary instead of wages, it changes the law in relation to prescription.
The argument that steam tow-boats are not vessels performing voyages, as other vessels
or steamboats, was met and decided on in the case of Davis v. Heaton, &c.
We are further of opinion that the defendant does not come within the exception of
article 3,500 of the code, which declares that the prescription does not run where there is
a note given, or account acknowledged. There was no note or account acknowledged in
this case. On the contrary, the account of the plaintiff is denied in the answer. The
last item in that account i3 dated the 26th of January, 1838, more than three years before
the defendant set up his demand. It is not alleged nor proved that the sums which the
plaintiff charges as having been paid to the defendant, were on account of his demand
for services as master of the boat, nor can they be so supposed. The plaintiff has no t
proved they were paid at a ll; and as the defendant denies it, we take it to be true that
they were not. But, admitting they were so paid, the defendant cannot benefit by it, as
more than three years have elapsed between the last payment and the presentation of his
demand. Judgment affirmed.
COLLISION— STEAM ER OHIO B E LLE AND SCHOONER CREOLE.

In the Supreme Court of Louisiana, April, 1844, Judge Ballard presiding. Western
Marine Insurance and Fire Company vs. Cassely, et al. Larose vs. the same.
Judge Bullard—These two actions are instituted against the owners of the steamer
Ohio Belle, to recover damages resulting from a collision between that boat and the
schooner Creole, alleged to have occurred by the fault of its officers. One of them is
brought by the owner of the schooner, which was sunk, and totally lost, and the other by
the underwriters, who had paid for one hundred hogsheads of sugar, the cargo of the
schooner, insured by them. The two cases were cumulated and tried together, and the
defendants are appellants from a judgment in each case against them. The collision oc­
curred in the night, when the steamer was ascending the. river Mississippi, and the
schooner was descending. In such cases, it is extremely difficult to ascertain with propercertainty the circumstances attending the accident, owing partly to the confusion and alarm
with which such casualties are always attended, and partly to the bias on the minds of the
crew, and even the passengers on board, in favor each of their own vessels. The mind
of the judge or jury is thus liable to become bewildered and confused by these cross-lights
of evidence, and finds it difficult to figure to itself the exact position of the two vessels
immediately preceding and at the moment of the collision, and to ascertain the means
used by one or both to avoid the catastrophe. In the present case, for example, if we be­
lieve the officers and crew of the schooner, it was a clear, star-light night; while it is
equally well proved by the officers and passengers on board the steamer that it was very
dark, and had been raining, although the outline of the bank of the river was visible, and
sufficiently distant for safe navigation. One thing, however, appears certain, to w it: that
the schooner struck the steamer head on, nearly at right angles, between the fore-hatchway and the boilers, and the starboard side; her bow was stove in, and she sunk very
soon, while the steamer received no injury.
Between a vessel propelled by steam, and another by wind, under ordinary circumstanetances, the means of avoiding a collision are greatly in favor of the former, in conse­
quence of the control which human ingenuity has contrived over the more powerful agent
itself, by means of which the vessel may be stopped, its course changed in any direction,
and even backed. In one respect, however, the steamer has no advantage over the sail­
ing vessel in the night. A steamer may be seen ; and, when on the high pressure prin­
ciple, may be heard at a much greater distance than a sailing vessel. The fires of the
furnace, the lights from the cabin-windows, the volume of black smoke, and often pencils
of sparks issuing from the chimneys, and the puffs of the escape-pipe, give warning of its
approach. A t the same time, the noise of the engine and the wheels, and the escape of




460

Mercantile Law Cases,

gteam, renders it more difficult to hear the hailing of another boat, or cries from the banks
of the river. Hence it is not difficult to account for the officers on board the Ohio Belle
not having heard the repeated hailing from on board the schooner. It is also well known
that with a light near the eye, distant objects cannot be seen as well as without such light;
and hence we find no difficulty in giving credence to the uncontradicted statement of the
officers and passengers on board the steamer, that the schooner was not seen until she
had approached very near the steamer, certainly not further off than two hundred yards,
gome of the witnesses say much nearer, and approaching in a direction to cross the track
of the steamer, nearly at right angles. In this, the concurrent positive testimony of all
the witnesses who were on board the steamer must outweigh the negative statements, or
opinions of others, either on shore or on board the schooner.
The plaintiffs cannot complain if we take the statement of the captain of the schooner
as true in relation to the circumstances which preceded the collision. It is admitted that
the schooner was descending the river after having taken in her full cargo of sugar, and
was under full sail. The captain says in his testimony, “ when they first saw the steamer,
ehe was about a mile and a half from the schooner, and was hugging the shore, as they
usually do, and the schooner was in the middle of the river—the wind was northwest,
being in an excellent quarter to descend the river.” According to this account of the
occurrence, about fifteen minutes elapsed from the time they first saw the steamer, to the
moment when the concussion took place. W ith the wind and current both favorable, it is
not easy to understand why the captain of the schooner did not change his course so as to
avoid the steamer. It is not satisfactorily shown that anything prevented his doing so.
On the other hand, there appears no good reason to doubt that there was a proper look­
out on board the steamer, and that the schooner was not seen until it was so near as to
leave little time for proper measures to avoid her.
It has been urged as a pjoof of culpable recklessness on the part of the officers of the
6teamer, that they did not stop to offer assistance to the sufferers on board of the schooner.
Such an argument would have considerable force, if it were shown that the extent of the
injury was known at the moment. But the thing was so sudden, and created such alarm
for'the safety of the steamer itself, that, in the confusion and darkness, no one appears to
have been aware that any serious injury had been inflicted. Upon the whole, an atten­
tive examination of the whole evidence leaves it doubtful, in our opinion, whether any
fault was attributable to the defendants; and we think the plaintiffs have failed to make
out their case.
It is therefore ordered and decreed, that the judgment of the District Court be reversed;
and it is further adjudged that ours be for the defendants, with costs in both courts.
B IL L S OF EXCHANGE.

In the Supreme Court of Louisiana, 1844, Judge Bullard presiding. The Northern
Bank of Kentucky vs. Leverich, et al.
The plaintiffs allege, in their petition, that about the 5th of May, 1841, one A. T.
Bowie, drew a bill of exchange on J. H. Leverich & Co., in favor of Daniel Vertner, or
order, for fourteen hundred dollars, payable seven months after date, which bill was trans­
ferred by Vertner to them before its maturity, and remitted to the Union Bank for collec­
tion ; but that the same was lost; and, upon application to their agent, the said Leverich
& Co. assumed, and promised to pay the same out of the proceeds of property of the
drawer in their hands, whereby they became liable as acceptors for the said amount, when
the amount should be realized out of property of the drawer, which was subsequently
done; and that they have failed to pay the same, though demanded.
The defendant, James II. Leverich, in answer to interrogatories on facts and articles,
admits that he was advised by Bowie that he had drawn a bill on J. H. Leverich & Co.,
and requested them to pay it, but such advice did not come to hand till several months




Mercantile Law Cases.

461

after drawing the b ill; that about the 10th cf February, 1842, he received a letter from
Bowie, informing him that he was about to ship cotton to his house, and directing them
to pay the bill in question. This letter he exhibited to Major Tilford and Mr. F re y ; and,
acting as the agent of Bowie, he did promise to pay the said bill out of the proceeds of
said cotton to be shipped, as stated in the letter. T hat the cotton arrived about the 21st
of February, 1842, and the owner Bowie came with it, and countermanded the order
given by his previous letter. That on the day of his arrival, he (Leverich) called on Ma­
jor Tilford, and informed him that Bowie had directed him not to pay the draft, and at
the same time told him that Bowie was in New Orleans, and that he, Major Tilford, had
better see him, and arrange it between themselves; and at the same time told Major T il­
ford that J. H. Leverich & Co. would not pay the draft. Major Tilford, at that time,
lodged at the St. Charles Hotel, as well as Bowie; and he, Leverich, apprised him of the
fact, and they both remained in New Orleans several days afterwards. Major Tilford
was President of the Northern Bank of Kentucky, and was their agent He further ad­
mits that the cotton shipped was sufficient to pay the draft; but lie paid the same to Bowie
or his order.
The above statement is substantially corroborared by the testimony of Frey. The pro­
mise to pay the bill out of the proceeds of cotton which should be received, was a condi­
tional acceptance of the bill of exchange, and that acceptance became absolute on the
receipt of a sufficient amount by the defendants, unless they were discharged by the no­
tice given by Leverich to Tilford, as above stated. It cannot be admitted that a drawer
can countermand a draft accepted, so as to discharge the acceptor, without the consent of
the holder. Leverich ought not to have received the cotton on consignment, if he was
not willing to pay the draft out of the proceeds. The order of Bowie could not release
him from that obligation. But it is said that the president of the bank, who was at the
same time its agent, was notified of this new order of Bowie, not to pay his draft. This
is true ; but it cannot be fairly inferred that he, by his silence or inaction, assented to the
release of Leverich from his conditional obligation; because, although he was the presi­
dent of the bank, and agent at the same time, it does not appear that he had authority
from the corporation to release Leverich from his contract; and certainly, without such
consent, either express or implied, he could not rid himself of his obligation. No such
consent, in our opinion, is shown.
But the appellant contends that there is no evidence of the transfer of the bill, and that
the signature of Vertner, the payee, must be proved, before a recovery can be had. A
witness testifies that Vertner admitted that he had transferred the bill to the plaintiffs.
The circumstances of the case are peculiar. The bill never came to hand. The accep­
tance was given with a knowledge of that fact. The defendants are not, therefore, par­
ties to the bill by a written acceptance, and consequently run no risk of its being presented
hereafter ; nor is it possible to prove the endorsement in the ordinary mode. The defend­
ants treated with the Bank of Kentucky, as the holders ; and, under these circumstances,
slight evidence of the title of the plaintiffs ought to suffice. The acknowledgment of the
drawee, that he had transferred the note, appears to us sufficient, and not liable to any
objection. It is not hearsay, but rather an admission of a party to a bill; and would, per­
haps, not be good evidence, because secondary, if the bill itself could be produced on the
trial. The declaration of Vertner would prevent him from ever recovering the amount of
the bill of exchange as holder.
'
Interest was allowed by the judgment, from the 9th December, 1841. In this, we think,
there was error, as the draft was not protested. It should have been given only from ju­
dicial demand. The judgment of the District Court is therefore reversed ; and it is fur­
ther ordered and decreed that the plaintiff recover of James H. Leverich &, Co. $1,400,
with 5 per cent interest from the 21st of February, 1843, the day of the judicial demand,
with costs in the District Court, those of the appeal to be paid by the appellees.




462

Commercial Regulations.

COMMERCIAL REGULATIONS.
T A R IF F O F CH A RG ES A T ST. LOUIS.
TARIFF OF CHARGES ESTABLISHED BY THE CHAMBER OF COMMERCE OF THE CITY OF ST. LOUIS, TO
GOVERN MERCHANTS, SEPTEMBER 3, 1844.
Commissions.
On sales of country produce, tobacco in hhd., except where the amount
is under $200,...............................................................................................
5 per cent.
Over $200,.........................................................................................................
2£ «
On sales of coffee, sugar, and molasses,.........................................................
2£ “
“
other merchandise, from the east or south,.................................
5
“
“
lead,....... ........................................................................................
“
For purchasing and shipping merchandise or produce, with the exception
2£ “
of lead, with funds in hand, on the aggregate cost and charges,............
For purchasing and shipping lead,...................................................................
1£ “
For guaranteeing sales on time, 1£ per cent per month.
For shipping to another market produce or merchandise on which ad­
vances have been made, on gross sales,...............................................‘........
1^ “
For accepting drafts, endorsing notes or bills of exchange, without funds,
bills of lading, or produce in hand,..............................................................
2£ “
For cash advances, in all cases, even with produce or bills of lading in
2£ “
hand, with interest from date, at 10 per cent per annum,........ .............
For negotiating drafts or notes, as drawer or endorser,................................
2£ u
On sales or purchase of stocks,........................................................................
1
“
On sale or purchase of boat, without guarantee,...........................................
2£ “
For procuring freight, on amount of freight,...................................................
5
“
For chartering boats,........... * ..........................................................................
2£ “
For collecting freight or accounts,....................................................................
2| “
For collecting delayed and litigated accounts,................................................
5
“
For collecting dividends on stocks,..................................................................
\
“
For adjusting insurance losses, if paid promptly, at the expiration of 60
1$ “
days from proof,.............................................................................................
I f not paid promptly, at 60 days from proof,.................................................
2£ “
For effecting insurance, on amount of premium,...........................................
10 “
On outfits or disbursements,..............................................................................
2£ “
The above commissions to be exclusive of storage, brokerage, and every other charge
actually incurred.
The risk of loss by fire, unless insurance be ordered, and of robbery, theft, and other
unavoidable occurrences, if the usual care be taken to secure the property, is in all cases
to be borne by the proprietors of the goods.
Interest to be charged at the rate of 8 per cent per annum, on all moneys, accounts, or
debts, after maturity, until paid.
Rates fo r receiving and forwarding Goods, exclusive o f charges actually and necessarily
incurred.
Sugar, per hogshead,...............................................................................................
37£cents*
Tobacco,...................................................................................................................
37£ “
Pork, beef, whiskey, molasses, lard, and tallow, in bbls.,...................................
7“
Flour, beans, wheat, beeswax, and flaxseed, in bbls.,..........................................
4“
Corn, oats, wheat, salt, barley, and flaxseed, in sacks, when under 100 sacks,
3
“
Over 100 sacks,.........................................................................................................
2 “
Lead, per pig,............................................................................................................
1“
Nails and lard, per keg, when under 50 kegs,.....................................................
3 “
Over 50 kegs,............................................................................................................
2 “
Wool and hemp, per bale,...................................................................................
6£ “
Bacon, in hhds.,........................................................................................................
18 (t
“
in bulk, per 100 lbs.,...................................................................................
10 “
Bagging, per bale,....................................................................................................
4 “
Bale rope, per coil,...................................................................................................
2 11
Coffee, per sack,.......................................................................................................
5 “
Hides, each,...............................................................................................................
2 “




Commercial Regulations.

463

Gunpowder, per keg,..........................................................................................
25 cents.
Carriages or wagons, each,................................................................................ $ 2 00
“
Gigs or cart3,....................................................................................................... 1 00
“
Merchandise, assorted, per 100 lbs.,..................................................................
10
“
Other articles in proportion.
Rates o f Storage.
Per mo.
P e r mo.
Tobacco,................................per hhd. 50 c. 1 0 0 lb s. d r ie d
“
.................................
10
C r a te o f q u e e n s w a r e , o r c a s k , s m a ll
Sugar,................................................... 25
s i z e , .................................................................
18|
Molasses,.............................................. 50
Bacon,.................................................. 25
C r a te o f q u e e n s w a r e , o r c a s k , la r g e
Liquor,......................per hhd. or pipe 50
s i z e , .................... ............................................
3 7 $ c,
50 B a g s o f c o f f e e , p e p p e r , a n d p i­
O il,.....................................................
Oil,.......................... per hhd. or tierce 37$
m e n t o ,...........................................................
5
Flaxseed or rice,..................per tierce 18f
1 0 0 lb s . ir o n , s t e e l , le a d , a n d s h o t ,.
5
B b l. t u r p e n t in e ,.............................................
10
Salt,.........................................per bbl.
6
Oil, molasses, orforeign liquors,........ 12$
B a le g u n n y b a g s ,.....................................
12$
Whiskey and cider,............................ 10
M a n u fa c tu r e d t o b a c c o , . . . . . .p e r b o x
8
Sugar, fish, lard, pork, or beef,.........
6^
1 0 0 lb s . d r y - g o o d s , o r o th e r m e r ­
Flour, apples, bread and beans,........
c h a n d i s e , in a s s o r te d l o t s , ................
5
4
S a lt , p e r s a c k , la r g e s i z e , ......................
Bacon in boxes,.............. per 100 lbs.
4
6
Lard, in kegs,..........................................
2
“
s m a ll d o .,.......................
3
3 W h i t e l e a d , ....................................p e r k e g
2
Window glass, in boxes,.......................
3
“
in half do.,....................
2 N a i l s , ...................................................................
Hemp yarn,......................per 100 lbs.
4
T o n d y e - w o o d ,.............................................$ 1 0 0
Hemp in bales,..................... per bale 8
H a m p e r o f b o t t le s ,...................................
18f
Bale rope,................................ per coil 4
R e a m w r it i n g a n d w r a p p in g p a p e r ,
1
Piece bagging, 50 yards, or less,......
4
C a s k o f c h e e s e ,............................................
8
Larger, in proportion.
1 0 0 lb s. t e a , .....................................................
10
100 lbs. cordage, tarred or w hite,....
4
O t h e r a r t ic le s , i n p r o p o r tio n .
100 lbs. salted hides,.............................
6$
The rules of commission under the head respecting fire, robbery, theft, &c., to apply
also in case of storage.
Under 150
Over 150
Over 300
Over 400

Agency fo r Steamboats.
tons,...............................................................................................
“ and not less than 300 tons,...............................................
** and less than 400
“ ...............................................
“ and upwards,.......................................................................

$10 per trip.
20 “
25
“
30 "

N E W B ELG IA N T A R IF F O F CUSTOMS DU TIES.
The Belgian government has entirely remodelled the tariff, and now adopted a scale of
differential duties on colonial and other raw produce, with the special view of protecting
national shipping and direct intercourse with transatlantic countries, and generally the
countries of production.
This new tariff entered into force on the 29 th instant. The details follow hereafter, as
far as regards the principal American staple articles of export to this country, but the fol­
lowing points require particular attention:—
1. That, by a special disposition, all the raw produce of the United States, imported
into a Belgian port by vessels of the United States, and duly qualified as such, will not
pay any higher duty than the same produce imported direct by Belgian vessels; American
being thus assimilated to our national vessels, in the particular case alluded to.
2. That, although the new tariff came into operation on the 29th of this month, many
articles specified in the following list, and the duty on which has undergone an increase,
will have to bear this increase successively, and in fractional rates; the full duty not coming
to be levied before the 28th July, 1845. Thus, for instance:—Ashes, which, according
to general tariff, are under a duty of frs. 2 per 100 kil., if imported direct from the United
States, by any vessel neither Belgian or American, will not pay above frs. 4.35 until 28th
July, 1845, always, if imported in that same mode.




Commercial Regulations.

464

3. That the 16 pr. of syndicate, levied hitherto, over and above all the customs duties,
will continue being levied on all articles, as a general rule.
4. Should a shipment be made from the United States to a Belgian port, by any vessel
having to call for orders at Cowes, or at any other intermediate, and other than American
or Belgian port, though not entering there into any operation of loading or unloading, (a
circumstance which would annul the privilege of direct importation,) it will be indispen­
sable for the shipper to apply to the Belgian consul at the port of shipment, and to have
it distinctly stated on the charter-party and bill of lading, or on the manifest, that the
goods are for Belgian account, or go to the consignment of a party in Belgium. Should
there be no Belgian consul at the port of shipment, the signature of the government agent
of any befriended nation will suffice.
This regulation will not, however, take its effect sooner than 1st October, 1844, for the
whole western coast, and the islands of Northern and Southern America ; nor sooner than
1st January, 1845, for countries eastward of the Cape of Good Hope, or westward of
Cape Horn.
The Belgian consuls at the different transatlantic ports will, no doubt, receive govern­
ment instructions by this conveyance, and be able to give fullest particulars on all the
points connected with the execution of the present new law, about the formalities required
for bills of lading to order, shipments by other than Belgian or American vessels, &c., &c.
5. That for American produce, other than those articles specially denominated in the
table of duties, Belgian consuls’ or (in the absence of consular agents) American autho­
rities’ certificates will be required to state the American origin.
Antwerp, 31st July, 1844.
R EG U LA TIO N R E L A T IV E TO BRAZIL WOOD.
C onsulate -G eneral of the E mpire of B razil in U. S tates , )

New York, Sept. 24th, 1844. ^
The exportation of Brazil wood from the ports of Brazil, has always been an exclusive
privilege of the Imperial government; but, as abuses have occurred, and some vessels,
perhaps through ignorance of the Brazilian laws in relation to the trade, have exported on
private account the said article to foreign ports, it is made known, to those whom it may
concern, that the laws of Brazil forbid entirely the exportation of the article by private in­
dividuals, and impose a fine of 30 mil reis ($15) a ton on each vessel that may take the
wood by contraband, from any part of the empire, to foreign countries. The fine will be
enforced, even after the departure of the vessel from Brazil; for which purpose, the gov­
ernment has taken all necessary measures to arrest the aiders and abettors in the clandes­
tine shipment.
L u ir H enrique F erreira D’A guiar , Consul-General.
T O N N A G E D U T IE S O F BRAZIL.
C onsulate -G eneral of the E m pire of B razil in U. S. of A merica, I

New York, October 9th, 1844. )
Art. 1. From the 11th November, 1844, the anchorage dues upon Brazilian and foreign
ships in foreign trade, will be reduced to 900 reis, and the dues upon the Brazilian coast­
wise vessels to 90 reis a ton, for what period soever they may remain in port.
Art. 2. Ships arriving in ballast, and sailing with cargo, and arriving with cargo, and
sailing in ballast, will pay one-ha]f the dues—entering and clearing in ballast, onethird dues.
Art. 3. Ships entering for provisions, or in Franguia to try the market, whether in bal­
last or with cargo, will pay one-third.
Art. 4. Ships entering under average, or in distress, will pay nothing, unless they dis­
charge or take cargo; being allowed to discharge the necessary cargo for the payment of
the expenses incurred.




Commercial Regulations.

465

Art. 5. Ships that have paid in any port of the empire the anchorage dues of the arti­
cles 1st, 2d, and 3d, arriving in another port in the same voyage, pay nothing excepting
taking cargo, and then have to pay the difference of the dues.
Art. 6. Coastwise vessels, trading between the ports of the empire, will pay one-half
the dues when half the crew be composed of Brazilian citizens; and will pay nothing if,
besides this circumstance, they be employed in the coast or in the high sea fishery.
Art. 7. Vessels of countries that will charge more dues upon Brazilian tonnage, or port
dues higher than dues paid by their own vessels, are subject, in the ports of Brazil, to pay
one-third more of the dues established, or to be raised to the same difference imposed by
said countries upon the Brazilian vessels.
L uir H enrique F erreira D’A guiar , Consul-General.
T H E OVERLAND R O U TE TO IN D IA .
The arrangements made for extending the communications with India and China, are
understood, says the London Times, to be as follows:—There is to be a communication
with Bombay, as at present. The East India Company’s steamers are to leave Bombay
on the first of every month, with mails, &c., for Suez, and the government is to provide
steamers to convey them from Alexandria to Marseilles. This portion of the mails will
arrive in London about the third and fourth of every month. Another, or immediate line
of communication, is to be performed by the steamers of the Oriental Company, under
contract with the board of admiralty. This line will leave Calcutta about the 10th of
every month for Suez, calling at Madras and Point de Galle, in Ceylon, and will arrive at
Suez in about twenty-five days after leaving Calcutta. From Suez, the mails will be
carried across Egypt to Alexandria, where they will be embarked in the Oriental Compa­
ny’s steamers, the Oriental and Great Liverpool, for Southampton, where they will arrive
about the 21st of every month. There will thus be a communication twice a month with
India—one via Bombay, and the other to Calcutta direct. W ith the Calcutta line, a
monthly communication with China is to be connected. A line of steamers is also to be
provided by the Oriental Company, to run between Ceylon and Hong-Kong, and to touch
at Penang and Singapore. These will take from, and deliver to the Calcutta steamers at
Ceylon, the China mails. By this arrangement, the correspondence will be transmitted
between London and Calcutta in forty to forty-two days, and between London and HongKong in forty-eight days. The Calcutta mail service is to commence in January next.
N E W SPA PE R PO STA G E ABO LISHED A T PO RTO RICO.
George Lattimore, Esq., United States consul at St. John, Porto Rico, addressed a note
to Capt. Fessenden, of the brig North Bend, just previous to his departure from the island,
stating that he had that moment received an official notice from the captain-general, in­
forming him that the heavy postage heretofore exacted on American newspapers is abo­
lished j and that, in future, they shall be admitted free.
VESSELS BOUND TO PO RTO RICO.
Pablo Chacon, the Consul-General of Spain, under date of “ Consulate-General of
Spain, Philadelphia, August 22d, 1844,” publishes the following notice:—
“ I hereby notify all shippers, owners, and captains of vessels bound to the island of
Porto Rico, that the manifest roll of equipage, and all invoices, must be certified by the
Spanish consul resident at the port of their departure; and without these requisites, the
captains, supercargoes, or consignees of the vessels, will be compelled to give security in
10 per cent of the value of the vessel and cargo, until the presentation of said consular
documents. Vessels touching at St. Thomas, or the adjacent islands, are not exempt from
thi3 regulation; for the enforcement of which, the strictest orders have been issued.”




Commercial Regulations.

466

EX PLA N A TIO N O F T H E U. S. D U TY ON C O FFE E.
It will he recollected that, in the early part of August, the secretary of the treasury
addressed a letter to the collectors of the customs, stating that the levying of a duty of 20
per cent upon coffee imported in vessels of the Netherlands from places other than those
of its growth or production, as had been done under the tariff law of 1842, was a viola­
tion of the treaty with that nation, and directing them to refund the amounts so collected.
The circular seems not to have been fully understood; and the following letter, in reply
to some inquiries, contains the secretary’s explanations:—
T reasury D epartment , Sept. 12, 1844.
To Messrs. Oolrichs $ Lunman, Baltimore :
Gentlemen—I have to acknowledge the receipt of your letter of the 9th inst. By the
treaty of the 19th January, 1839, between the United States of America and the king of
the Netherlands, it is agreed in the first article, “ goods and merchandise, whatever their
origin may be, imported into or exported from ports of the United States, from or to the
ports of the Netherlands in Europe, in vessels of the Netherlands, shall pay no other or
higher duties than shall be levied on the like goods and merchandise, so imported or ex­
ported in national vessels. And reciprocally goods and merchandise, whatever their origin
may be, imported into or exported from the ports of the Netherlands in Europe, from or
to the ports of the United States, in vessels of the said States, shall pay no other or higher
duties than shall be levied on the like goods and merchandise so exported or imported in
national vessels,” &c.
This treaty, extending likewise to drawbacks, tonnage duties, harbor dues, &c., leaves
the two contracting nations free to levy, by the laws of their respective nations, whatso­
ever duties, in their own ports respectively, upon their national vessels, and upon goods
and merchandise imported in national vessels, or foreign vessels, which to the respective
governments shall seem fit. If goods and merchandise, imported into the United States
in vessels of the United States, are by the law of the United States exempted from duty,
that exception, like goods and merchandise imported into the United States in vessels of
the Netherlands, is, by the treaty, due to the goods and merchandise so imported into the
United States, in vessels of the Netherlands.
Whatsoever duties or exemptions may be levied or granted, by the law of the Nether­
lands, in respect of goods and merchandise imported into the Netherlands, in their port3
in Europe, in vessels of the Netherlands, no other or higher duties are to be levied, and
the like exemptions are to be granted to the like goods and merchandise imported in ves­
sels of the United States into the ports of the Netherlands in Europe. By the law of the
United States, of 30th August, 1842, “ tea and coffee, when imported in American ves­
sels from the places of their growth or production,” shall be exempt from the duty by that
act levied upon those articles when imported in foreign vessels. The duty of 20 per cent
ad valorem on coffee, imported into the United States in vessels of the Netherlands, had
been levied and collected in certain instances, at the ports of the United States. Of this,
the minister of the king of the Netherlands made complaint, as being in contravention of
the treaty. That complaint is the subject treated in the circular to collectors and naval
officers, sent from this department, and alluded to in your letter. The instruction in the
circular relates to coffee imported in vessels of the Netherlands. No instruction is therein
given as to coffee imported in vessels of the United States. As to coffee imported in ves­
sels of the Netherlands, the treaty i3 the rule and guide.
As to the duty on coffee imported in vessels of the United States, (or foreign vessels
other than those of the Netherlands,) the circular has left it to the collectors and naval
officers to be ruled and guided by the law of the Congress of the United States, of 1842.
The treaty is a supreme law of this land—the Congress cannot make a valid enaction
in violation of the stipulations of the treaty. Such violation, if persisted in and executed,
would be a breach of public faith, and a stain upon the national honor.
The Congress have full power -to levy whatsoever duties they shall see fit, upon goods
imported in vessels of the United States. To that, the treaty is not opposed. But the
Congress cannot levy duties upon goods imported in vessels of the Netherlands, which
duties would, if collected, be in violation or contravention of the treaty. In such cases of
conflict, the treaty is the law and the rule—the enaction of the Congress is no law, no rule;
but is over-ridden and made impotent by the superior obligations of the treaty. The advan­
tages resulting from the treaty in favor of the vessels of the Netherlands in the ports of the
United States, are fully compensated by the advantages resulting from the stipulations of
the treaty in favor of the vessels of the United States in the ports of the Netherlands. If
those stipulations shall be violated in the ports of the Netherlands, (a case not to be pre­
sumed,) the government of the United States, upon information of such infraction, wall




Nautical Intelligence,

467

not fail to interpose in seeking redress from the government of the Netherlands. Having
the foregoing principles in view, it is the intention of this department that the duty of 20
per cent ad valorem shall be collected and retained on coffee imported in vessels of the
United States, from places other than those of its growth or production Upon such cases,
the treaty between the United States and the Netherlands has no operation.
The collectors and naval officers, with the law of 1842, and the manifests before them,
will determine whether coffee, imported in vessels of the United States, is subject to, or
exempted from the duty.
I am, gentlemen, respectfully yours,
G eorge M. B ibb , Sec’y of Treasury.

NAUTICAL INTELLIGENCE.
ISLA N D O F ICIIABOE.
importance attached to the guano trade, at this time, by a portion of our commer­
cial readers, will, perhaps, render the following directions for making the guano island of
Ichaboe, useful to navigators. It is an extract of a letter received at Lloyd’s, London,
dated Ichaboe, May 22, 1844.
T

he

D irections for the I sland of I chaboe.

“ Vessels bound to Ichaboe should by all means, if possible, make the land to the south­
ward of this place. I do not think it necessary to make Pedestal Point, for they may be
deceived looking for the Pillar and Cross, as I have been informed by several ship-masters
lying here, who have made the Point, that they do not exist* If vessels make the land
to the southward, it is quite sufficient. Ichaboe lies in la t 26. 19. S., Ion. 15. E. If, un­
fortunately, a vessel should be driven to the north by strong gales from the southward, or
otherwise, I would recommend working along 6hore; going in as near as is prudent
towards the evening, and stretch off a part of the night, so as to be near the land again,
an hour or two after sunrise. By so doing, they would take advantage of the land-breeze,
which varies a few points at night from the land. The current is not always alike, neither
does it always run with the same velocity. W hen about the latitude of between 26. 15.,
and 26. 25., and the land is made, mountains will be seen inland. Bring these to bear
S. E., and steer directly for them—there will be no difficulty in making Ichaboe.
“ The land to the north of those mountains is level, composed of sand-hills and decom­
posed granite. W hen the island is seen, steer for it until you come within two or three
miles ; then go between the south part of the island and the main. I recommend this
passage as the best, for many reasons. In the first place, there is a passage within a quar­
ter of a mile of the island, above a mile wide—the wind is generally from the southward,
and the current is seldom from any other quarter than running to the northward. If you
go by this north passage, it is more shallow; and, on account of the wind being southerly,
and the current running northerly, it is next to impossible to beat up to a good berth, as
the ships lying so close together will not admit beating, without doing or receiving da­
mage, or both. There is a reef off the south end of the island, as also one off the main
land; but there is a mile between them, with a good depth of w’ater—so that a line-ofbattle ship might beat between them without any danger; and you can let go your anchor
were you to windward, and drop your vessel in any berth you choose.
* By subsequent information, it appears that the pillar and cross do exist, but of so
small dimensions as to be invisible except when very close to it.

GANGW AY ROCK O F HY A N N IS.
There is a dangerous rock, says the Boston Mercantile Journal, off the harbor of I l y annis, called the Gangway rock, with only five feet water, with a buoy on it. To the
westward of the Gangway, lies a reef, with several shoal rocks upon it, that have not more
than seven feet water upon them. One of the rocks was lately struck by the barque Mo­
hawk, and the captain supposed it was the Gangway rock, and the buoy was out of place.
We learn that an examination has been made, and the Gangway rock, with the buoy on
it, was found, agreeing wuth the former land-marks.




Nautical Intelligence.

468

L IG H T S ON T H E T O R IN G E N AN D SANDVIGSODDE.
The following notice to navigators, respecting the lighting up of the lights on Toringen
and Sandvigsodde, near Arendal, are published over the signature of Libbern of the Royal
Norway Government, Sea Department, at Christiana, August 13, 1844, and now repub­
lished in the Merchants’ Magazine, for the information of mariners:—
“ Referring to the notice of the marine department, under date of May 17, of the pre­
sent year, it has now been notified that two lights are erected on the Toringen, near Aren­
dal, which will, in the evening of 1st September, for the first time, be lighted. Both are
fixed lights, which throw a glare all round, and are situated on the islands store (great)
and lille (little) Toringen, 1,800 feet from one another, in N. 4 W. by corrected compass.
The one on store Toringen is in 53. 23. 15. N. lat., 8. 53. 15. E. Ion. of Greenwich; and
the other on little Toringen, in 58. 25. N. lat., 8. 53. E. Ion. of Greenwich. Both lights
will burn 130 feet above the level of the sea; and, under ordinary circumstances, be visi­
ble at four and a half to five sea miles distance. In order to serve as day-marks, the
light-towers are painted white.
“ There will also be lighted, in the evening of the 1st of September of the present year,
on the Sandvigsodde, near the entry of Arendal, a fixed light, in 58. 25. 30. N. lat, 8.52.
10. E. Ion. of Greenwich, 42 feet above the level of the sea, and will throw a light from
N. N. W. through N. E. and S. to S. W., (all by corrected compass,) over every part
which is not obscured by the land; and, under usual circumstances, the light will be visi­
ble at a distance of two and a half to three sea miles. In order to serve as a land-mark,
the light-house is painted light yellow.
“ Those three lights will burn throughout the whole year, and be lighted up from Easter
to Michaelmas one hour, and from Michaelmas to Easter half an hour after sunset, and
burn till sunrise.
“ With the assistance of those lights, a ship may enter without a pilot both ways into
Sandvig, half a league from Arendal, viz: when at the distance of at least half a sea mile
from the shore, the light of Sanvigsodde land point bears N. 16 W. by corrected compass,
(N. | E. by uncorrected,) or a sail’s breadth E. off the light of lille Toringen, steering in
that direction along the shore E round lille Toringen, straight for the light of Sandvigsorlde ; the distance from lille Toringen to Sandvigsodde being one-quarter of a sea-mile.
When within a cable’s length of the Sandvigsodde light, the course is east; in order to
keep the same for some time farther, \ cable’s length at the same distance till quite oppo­
site it, when the course is to be altered to N. 2 deg. W. by corrected (N. N. E. by uncor­
rected) compass, for one to three cable’s length, by which the ship will safely arrive at an
anchorage place, with twelve to sixteen fathoms water, and good anchorage ground. 2.
Coming from sea, a ship may run in between the two Toringen, but so near store Torin­
gen, as to remain only a small cable’s length off the island till the light of Sandvigsodde
appears N. 2 deg. W. according to corrected (N. N. E. by uncorrected) compass, when
the course is straight for the last mentioned light; being one-quarter cable’s length off the
same, and the same course is to be held as above described. The first mentioned entrance
is, however, the easiest for foreigners to enter.”
L IG H T IN G O F T H E L IG H T S ON UD SIRE.
The following notice, relating to the lighting of the lights of Udsire, dated “ Admiral­
ty? August 8, 1844,” and signed “ Libbern, Norwegian Royal Department, Christiana,
July 13, 1844,” is republished for the benefit of mariners:—
“ In connection with the notice issued by the department on the 17th of May last, it is
hereby made known that the two new lights erected on the island of Udsire, will be light­
ed on the evening of the 15th August next. These two lights, which are to be fixed, and
to be seen from every side, are situated 330 ells (680 English feet) from each other, 68
deg. E. of S., and 68 deg. W. of N., by true compass. The lights will burn the year
round, and will be lighted from Easter to Michaelmas an hour after sunset, and from Mi­
chaelmas to Easter half an hour after sunset, and continue burning till sunrise. The ele­
vation of the light above the level of the sea is 248 Norwegian feet, equal to 264 English.
In order that they may serve as beacons during the day, the towers or light-houses are
painted of a light red color. The latitude of the easternmost light is 59. 11. 18. N., and
longitude 4. 53. 33. E. of Greenwich. The westernmost light is 59. 18. 20. N. lat., and
Ion. 4. 53. 24. E. of Greenwich. These lights, it is supposed, will be seen, in ordinary
weather, at a distance of from 18 to 20 miles.




Nautical Intelligence.

469

L IG H T -H O U SE ON T H E ISLAN D OF BANGOE.
The light on the island of Bangoe, between Asseus and Awesund, established for the
guidance of the packets crossing the Little Belt, which had hitherto lit up the passage
only south of that island, will, within the present summer, bo raised five feet higher, in a
lantern at the top of the light-house. The light will thereby become visible from all sides,
except in the direction of about N. E. by E., in which direction it would be concealed a
short way, by the town of Bangoe. During the progress of the work connected with this
contemplated change, which will prevent the original light being shown for a time, light
will be afforded by a large lantern with reflectors, which will be fixed at the same height,
and will light in the same direction as the red lights.
In the course of the month of August of this year, two beacons will be laid down at
the Lyse-ground in the Cattegat, N. E. of the island of Hesseloe, viz :—One beacon with
two brooms at the top, at the N. E. end of the aforesaid ground, in 4 f fathoms w ater;
and, by bearings, Hesseloe light-house S. W. i S., and the Koll E. S. E. f E. One bea­
con, with one broom at the top, at the N. W . end of the ground, in 4 4 fathoms w ater;
and, by bearings, Hesseloe light-house S. W. by S., and the Koll E. by S. The beacons
will remain exposed throughout the year.
S. H erbert .
General Board of Customs and Trade, July 12, 1844.
FL O A T IN G L IG H T MOORED O F F FALSTERBO.
The following information, respecting the establishment of a floating light, moored off
Falsterbo, has been communicated to the department of state, at Washington, by the
Charge-d’Affaires of Sweden and Norway, and is published officially, for the information
of those trading in that quarter:—
“ The Royal Department of Maritime Affairs of Sweden, gives notice that a floating
light was moored off’Falsterbo in the month of September last. The light vessel has two
masts, her sides painted red, with the letters F. S. in white paint on each side, carries a
red streamer on the foremast, and shows two lights during the night, so placed that, when
approaching her from either side, they are seen side by side ; or, when a vessel nears her
in a line with her bows, they are seen one above the other, the highest light being on the
foretop.
“ The floating light-vessel will be lighted up from the 15th March to the 1st of Decem­
ber, every year. She lays in 6 4 fathoms water, one minute from the outermost point of
Falsterbo reef, and whence Falsterbo light bears N. E., six minutes distant; and Stevensklint’s light-house bears W. N. W. 4 W. by compass. A bell will be tolled on board the
floating light during thick and misty weather. The lights are about 50 feet above the
level of the water, and may be seen two German miles, or more, in fair weather.
“ The floating light will have five pilots stationed on board, and lays in such deep wa­
ter that the largest ship may approach her, and obtain a pilot. She will carry a pilot-flag
as long as pilots are on board; and the flag will be taken down when they are all o u t”
N E W IN V E N T IO N FO R SA ILIN G SH IPS.
Mr. H. Demster, of Kinghorn, has invented a “ new rig,” the advantages of which he
states are as follows:—The Problem, a vessel which he has constructed, is capable of
being made to turn round, as if on a pivot, without even,a sail being altered—attention to
shifting of the helm when she takes a stern-way, being all that is necessary to perform
the evolution. The vessel can with ease be propelled stern foremost, and tacked or wore
in that direction. The fore and aft triangle sails go round without touching a mast. It
is in these sails where the principal advantage rests in the rig. Under them, a vessel pro­
perly managed will never miss stays in the heaviest sea, or in the highest wind. They
are well constructed for lying to, backing, filling, or box-hauling; and it is his opinion that
these two sails may be applied to the largest-sized fishing boats, particularly those that,
from their size, are incapable of being rowed, but are obliged to set and haul their lines
under sail.




Commercial Statistics,

470

PASSAGE O F T H E DARDAN ELLES.
The Department of State, at Washington, under date of Sept 20, 1844, publishes offi­
cially, in the Madisonian, the following translation of a new regulation in relation to the
passage of the Dardanelles, recently received from the minister resident of the United
States at Constantinople, for the information of those trading in that quarter:—
W hen vessels endeavor to pass the Dardanelles after 11 o’clock, (6 o’clock 15 minutes,)
8, M., our unshotted gun is fired, for the purpose of bringing her t o ; and when this proves
ineffectual, the second is fired, charged with a ball. This is in execution of an ancient
custom; but, as every one knows that the guns are not fired with the intention of striking
the vessel, it is useless. Besides this, a quantity of powder and ball is wasted ; to obviate
which, the following regulation has been determined on, v iz:—
W hen vessels attempt to pass the Dardanelles after the aforementioned hour, red, green
and yellow flags will be displayed before the guard-houses, and at night large lights will
be hung out in front of them ; and if no notice is taken of these, then a cannon will be
fired, and the expense of the same, be the vessel whatever it may, be charged to it.
This regulation has been notified to Hi3 Excellency the Pacha, governor of the castles
of the Dardanelles, as well as to the other necessary authorities; the same to commence
at the expiration of the said term, (one month,) and the present official note is now writ­
ten and sent to your excellency, with the particular request that you will be so good as to
have the regulation also made known to the captains of the merchant vessels of the Ame­
rican government, and take such necessary steps as will require them to act in conform­
ance to it. [A correct translation.]
July 7, 1844.
(Signed)
J. P. B rown.

COMMERCIAL STATISTICS.
U N IT E D S T A T E S E X PO R T O F A G RICULTU RAL PRODUCE,
FOR T H E L A S T S IX TEEN YEA RS.

T he tabular statements below, exhibit the amount and value of agricultural produce,

embracing wheat, flour, Indian com, Indian and rye meal, rye, oats, & c.; ship-bread, po­
tatoes, rice, cottonyand tobacco, exported from the United States for the last sixteen years
—i. e., from 1828 to 1843. The exports for 1843, in consequence of the change of the
commercial year, includes only the nine months ending 30th of June, 1843. The pre­
vious years, (from 1828 to 1842, inclusive,) are complete years, and end on the 30th of
September.
Export o f W heat, Flour, and Indian Corn.
W h eat.

Years.
1828,
1829,
1830,
1831,
1832,
1833,
1834,
1835,
1836,
1837,
1838,
1839,
1840,
1841,
1842,
1843,

Quantity.
Bush.
8,906
4,007
45,289
408,910
88,304
32,221
36,948
47,762
2,062
17,303
6,291
96,325
1,720,860
868,585
817,958
311,685




Yalue.
Dolls.
6,730
6,372
46,176
523,270
93,500
29,592
39,598
51,405
2,062
27,206
8,125
144,191
1,635,483
822,881
916,616
264,109

F lour.

Quantity.
Bbls.
860,809
837,385
1,227,434
1,806,529
864,919
955,768
835,352
779,396
505,400
318,719
448,161
923,151
1,897,501
1,515,817
1,283,602
841,474

Value.
Dolls.
4,286,939
5,793,651
6,085,953
9,938,458
4,880,623
5,613,010
4,520,781
4,394,777
3,572,599
2,987,269
3,603,299
6,925,170
10,143,615
7,759,646
7,375,356
3,763,073

I ndian C orn .

Quantity.
Bush.
704,902
897,656
444,107
571,312
451,230
487,174
303,449
755,781
124,791
151,276
172,321
162,306
474,279
535,727
600,308
672,608

Value.
Dolls.
342,824
478,862
224,823
396,617
278,740
337,505
203,573
588,276
103,702
147,982
141,992
141,095
338,333
312,954
345,150
281,749

Commercial Statistics,

471

E xport of I ndian and R ye M eal , R y e , O ats , & c.
R ye M e a l .

I ndian M e a l .

Years.
1828.......
1829,......
1830,.....
1831......
1832,......
1833,......
1834,.....
1835,......
1836,......
1837,......
1838.......
1839,......
1840,......
1841,......
1842,......
1843,......

Quantity.
Bbls.
174,639
173,775
145,301
297,604
146,710
146,678
149,609
166,782
140,917
159,435
171,843
165,672
206,063
232,284
209,199
174,354

Value.
Dolls.
480,034
495,673
372,296
595,434
480,035
534,309
491,910
629,389
621,560
763,652
722,399
658,421
705,183
682,457
617,817
454,166

Quantity.
Bbls.
22,214
34,191
26,298
19,100
17,254
36,038
39,151
30,854
36,646
28,323
22,864
29,458
53,218
44,031
34,190
21,770

R y e , O a t s , & c.

Value.
jDolls.
59,036
127,004
87,796
71,881
75,392
140,017
140,306
129,140
173,976
165,457
110,792
145,448
170,931
138,505
124,396
65,631

Value.
Dolls.
67,997
74,896
66,249
132,717
78,447
102,568
49,465
96,478
80,492
80,785
94,533
72,050
113,393
159,893
175,082
108,640

E xports of S h ip -B read , P otatoes , R ice , C otton , and T obacco.

Years.
1828,.......
1829,.......
1830,.......
1831,.......
1832,.......
1833,.......
1834,.......
1835,.......
1836,.......
1837,.......
1838,.......
1839,.......
1840,.......
1841,.......
1842,.......
1843,.......

Ship-bread.
Value.
$171,105
172,897
188,474
250,533
255,735
252,555
231,708
221,699
244,760
244,292
263,686
349,871
428,988
378,041
323,759
312,232

Potatoes.
Value.
$35,371
30,079
39,027
41,147
42,077
52,052
38,567
41,543
43,630
20,594
56,898
57,536
54,524
64,402
85,844
47,757

Rice.
Value.
$2,620,696
2,514,370
1,986,824
2,016,267
2,152,631
2,744,418
2,122,272
2,210,331
2,548,750
2,309,279'
1,721,819
2,460,198
1,942,076
2,010,107
1,907,387
1,625,726

Cotton.
Value.
$22,487,229
26,575,311
29,674,883
25,289,492
31,724,682
36,191,105
49,448,402
64,961,302
71,284,925
63,240,102
61,556,811
61,238,982
63,870,307
54,330,341
47,593,464
49,119,806

Tobacco.
Value.
$5,269,960
4,982,974
5,586,365
4,892,388
5,999,769
5,755,968
6,595,305
8,250,577
10,058,640
5,795,647
7,392,029
9,832,943
9,883,957
12,576,709
9,540,753
4,650,979

E xports of D omestic P roduce from t h e U nited S tates to G reat B r ita in .

The following tabular statement exhibits the amount and value of the articles of do­
mestic products, enumerated in the preceding tables, exported from the United States to
Great Britain and Ireland, during the same period:—
W h eat.

Years.
1828.......
1829,......
1830,......
1831,......
1832,......
1833,......
1834,......
1835,......
1836,......
1837.......
1838,.....
1839,.....
1840,.....
1841,.....
1842,.....
1843.......

Quantity.
Bush.
4,001
32,037
381,252
55,050

Value.
Dolls.

6,359
33,184
492,680
62,287

3

6

6,033
615,972
119,854
143,330

11,073
685,609
129,309
183,696




F lour.

Quantity.
Bbls.
23,258
221,176
326,182
879,430
95,958
22,207
19,687
5,376
161
8,295
167,585
620,919
208,984
208,024
19,436

Value.
Dolls.
111,871
1,635,174
1,544,194
4,931,951
479,321
121,169
96,834
25,341
1,134
62,510
1,326,600
3,387,343
1,003,465
1,242,787
84,815

I ndian C o r n .

Quantity.
Bush.
141,971
251,564
51,416
190,469
322
3,240

Value.
Dolls.
68,432
135,196
29,425
133,447
180
2,174

253

230

12
135
519
104,841
12,548
123,665

15
110
467
61,569
7,136
75,901

Commercial Statistics.

472

R ye , O ats , and M eal , & c., exported from the U nited S tates to G reat B ritain .
I ndian M e a l .
R ye M e a l .
R y e , O ats .

Years.

1828,................
1829,................
1830,................
1831,................
1832,................
1833,................
1834,................
1835,...............
1836,................
1837,................
1838.................
1839.................
1840.................
1841.................
1842,................
1843,................

Quantity.
Bbls.
52
130
50
17,718

Value.
Dolls.
152
395
145
30,514

610

2,312

300
1
1
6
6
2

Quantity.
Bbls.

Value.
Dolls.

Value.
Dolls.

2
44

9
187

1,831
4,500
41,546

160

658

630
100

3,346
550

5

20

1,381
6
3
21
10
8

899
5,884
2,574
29,844
1,015
14,842
2,178
36,490
2,751

R ice , C otton , T obacco, & c., exported from the U nited S tates to G reat B ritain .

Years.

Ship-bread. Potatoes.
Rice.
Cotton.
%
Tobacco.
Value.
Value.
Value.
Value.
Value.
$90
.......
$430,246
$15,626,901
1828,.......
$1,720,571
1829,.......
407,363
17,514,389
1,533,115
368
$17
20,678,633
1830,.......
265,479
1,583,971
1831,.......
494
2
20,117,355
1,882,336
553,475
6
.......
22,429,050
2,345,450
1832,.......
423,127
334
24
570,572
26,254,970
2,259,197
1833,.......
1834,.......
54
3
287,599
36,107,664
2,937,020
426
.......
1835,.......
203,916
45,701,411
3,400,639
4,593,442
1836,.......
375
.......
444,802
48,910,846
........
220
1837.........
319,993
44,857,118
1,879,868
221,790
2,857,203
1838,.......
45,787,687
1839,.......
423,654
5,404,967
46,074,579
1840,.......
100
10
28S,439
3,227,880
41,945,354
506
.......
1841,.......
489,952
5,114,836
35,634,005
1842,.......
1,125
5
280,073
3,212,207
30,102,417
1843,.......
675
.......
149,026
1,262,616
35,781,107
During the third quarter of 1843, there was exported to Great Britain and Ireland
29,062 barrels of flour—value, $136,963.
T otal V alue of A gricultural P roduce exported from the U nited S tates , in tiie last
S IX TEEN YEARS.

Years.
1828,..................
1829,..................
1830,..................
1831,..................
1832...................
1833,..................
1834,..................
1835,..................
1836,..................
1837...................
1838,..................
1839,..................
1840,..................
1841,..................
1842,..................
1843,..................




Agg. am’t in
val. of exp’ts
to Gr. Britain
and Ireland.
$17,958,263
21,234,207
24,139,540
28,183,987
25,739,421
29,212,309
39,435,058
49,337,883
• 53,980,994
47,058,601
48,929,306
53,242,358
49,611,187
* 42,381.397
35,134,709
37,280,990

Agg. am’t in
val. of expt’s
to all other
places.
$17,869,658
20,017,882
20,219,326
15,964,217
20,322,210
22,540,790
24,416,829
32,237,034
31,754,102
28,723,664
26,743,077
28,783,547
39,675,603
36,854,533
33,870,917
23,412,878

Total am't in
val. of exp’ts.
$35,327,921
41,252,089
44,358,866
44,148,204
46,061,631
51,753,099
63,881,887
81,574,917
85,735,096
75,782,265
75,672,383
82,025,905
89,286,790
79,235,930
69,005,626
60,693,868

Commercial Statistics,

473

EX PO RTS O F C O TTO N , AN D A L L O T H E R PRODUCE,
FOR TH E L A S T T W E N T Y -T H R E E Y EA RS.

The subjoined table, compiled from the official reports of the treasury, for the last twen­
ty-three years, shows the annual value of American produce of all kinds, exported from
the country. Column 3 contains that of cotton alone ; column 4 contains the aggregate
value of all other kinds—of flour, rice, tobacco, hemp ; of beef, pork, lard, lumber; of
the products of the sea and the forest, the field, and the workshops.
E xports of D omestic P roduce from t h e U nited S tates .

Yrs. end’g
Sept. 30.
1821,.......
1822,.......
1823,.......
1824,.......
1825,.......
1826,.......
1827,.......
1828,.......
1329,.......
1830,.......
1S31,.......
1832,.......
1833,.......
1834,.......
1835,.......
1836,.......
1837,.......
1838,......
1839,.......
1840,.......
1841,.......
1842,.......
1843,........

Pounds.
124,893,405
144,675,095
173,723,270
142,369,663
176,449,907
204,535,415
294,310,115
210,590,463
264,836,989
298,458.998
276,999,784
322,215,122
324,698,604
384,717,907
387,359,008
423,631,302
444,211,537
595,952,297
413,624,212
743,941,061
530,204,100
584,717,017
817,253,446

Total,..

8,283,768,718

Value.
$20,157,484
24,035,058
20,445,520
21,947,401
36,846,649
26,163,339
30,518,959
23,497,461
27,834,768
30,993,066
26,415,805
32,954,256
38,723,622
51,534,396
67,819,983
73,540,662
66,071,575
65,315,574
64,214,015
67,419,914
57,452,887
50,564,154
53,855,218

All other produce.
Value.
$23,514,410
25,839,021
26,709,888
28,702,099
30,097,096
26,892,371
28,402,732
27,172,208
27,865,425
28,468,963
34,861,252
30,183,214
31,594,076
29,489,766
33,369,099
33,376,018
29,492,839
30,718,247
39,319,876
46,475,720
48,929,835
42,405,842
37,808,280

$43,671,894
49,874,079
47,155,408
50,649,500
G6,944,745
53,055,710
58,921,691
50,669,669
55,700,193
59,462,029
61,277,057
63,137,470
70,317,698
81,024,162
9 101,189,082
106,916,680
95,564,414
96,033,821
103,533,891
113,895,634
106,382,722
92,969,996
91,663,498

$978,321,766

$741,689,277

1,720,011,043

Cotton.

Total value of
exports.

AG RICU LTU RA L PRODUCE AND CON SUM PTION
IN T H E UN ITED STA TES, FO R T H R E E YEARS —1840-2-3.
The National Intelligencer publishes the following table, constructed from authentic
materials, of the quantities of agricultural products grown and consumed within the Uni­
ted States during the three last years:—
A gricultural P roduce of t h e U nited S tates — Q ua n tity P roduced.

Articles.

1840.

1842.

W h e a t , ................................................b u s h .
8 4 ,8 2 3 ,2 7 2
1 0 2 ,3 1 7 ,3 4 0
B a r l e y , ....................................................................
4 ,1 6 1 ,5 0 4
3 ,8 7 1 ,6 2 2
O a t s ,......................................................................
1 2 3 ,0 7 1 ,3 4 1
1 5 0 ,8 8 3 ,6 1 7
R y e ..................................................................
1 8 ,6 4 5 ,5 6 7
2 2 ,7 6 2 ,9 5 2
B u c k w h e a t , .........................................................
7 ,2 9 1 ,7 4 3
9 ,4 8 3 ,4 8 9
I n d i a n c o r n ,......................................................
3 7 7 ,5 3 1 ,8 7 5
4 4 1 ,8 2 9 ,2 4 3
P o t a t o e s ,.............................................................
1 0 8 ,2 9 8 ,0 6 0
1 3 5 ,8 8 3 ,3 8 1
H a y , ..................................................... t o n s
1 0 ,2 4 8 ,1 0 8 $
1 4 ,0 5 3 ,3 5 5
F l a x a n d h e m p ,......................................
9 5 ,2 5 1 }
1 5 8 ,5 6 9 }
T o b a c c o ,................................................ lb s .
2 1 9 ,1 6 3 ,3 1 9
1 9 4 ,6 9 4 ,8 9 1
C o t t o n ,..................................................................
7 9 0 ,4 7 9 ,2 9 5
6 8 3 ,3 3 3 ,2 3 1
R i c e , .......................................................................
8 0 ,8 4 1 ,4 2 2
9 4 ,0 0 7 ,8 8 4
S i l k c o c o o n s ,.........................................................
6 1 ,5 5 2
2 4 4 ,1 2 4
S u g a r , ...................................................................
1 5 5 ,1 1 0 ,8 0 9
1 4 2 ,4 4 5 ,1 9 9
W i n e ................................................g a ll o n s
1 2 4 ,7 3 4
1 3 0 ,7 4 8
S u p p o s e d v a lu e o f t h e a b o v e a r t ic le s , fo r 1 8 4 2 , ......................................................
“
a t t h e s a m e p r ic e s , fo r 1 8 4 3 , ...........................................................

VOL. XI.--- NO. V.




37

1843.
100,310,856
3,220,721
145,929,966
24,280,271
7,959,410
494,618,306
105,756,133
15,419,807
161,007}
185,731,554
747,660,090
89,879,145
315,965
126,400,310
139,240
$582,639,968
607,185,413

Commercial Statistics.

474

CONSUM FTTON OF T H E PRO D U C E OF T H E U N IT E D S T A T E S .

1840.
Population,...................................
Consumption.
Indian corn,....................... bush.
O ats,.............................................
W heat, rye, &c.,.........................
Potatoes,.......................................

1842.

1843.

17,069,453

18,646,367

19,183,583

290,180,650
95,588,920
85,347,265
85,347,265

316,988,239
104,419,644
93,231,835
93,231,835

326,120,911
107,428,048
95,917,915
95,917,915

Surplus, after deducting one-tenth, fo r seed, and the above fo r consumption,
Indian corn,....................... bush.
49,598,038
80,658,083
119,035,565
W heat, rye, &c.............................
18,082,613
31,360,028
27,276,218
O ats,.............................................
15,175,287
31,375,612
23,908,928
Potatoes........................................
12,120,989
29,063,208 defic’y of 737,395
IM PO RTS AN D E X PO R TS O F T H E U N IT E D ST A T E S,
F O R T W E N T Y -T H R E E YEA RS— FROM 1821 TO 1843.
The following is a statement of the value of imports and exports into and from the
United States, from 1820 to the present time, distinguishing domestic articles exported
from those of foreign production. The year, in each case, ends with the 30th September,
inclusive. Imports and exports for 1843, embraces only nine months— (i. e., from Octo­
ber 1, 1842, to June 30th, 1843.) The latter date will hereafter, as before stated, be the
termination of the commercial year, instead of 30th September.
» Dora, exports.
For. exports.
Years.
Tot. exports.
Tot. imports.
1821,.........
$43,671,894
$21,302,488
$64,974,382
$62,585,724
49,874,079
1822,.........
22,286,202
72,160,281
83,241,541
47,155,408
27,543,622
74,699,030
77,579,267
1823...........
50,649,500
1824,.........
25,337,157
75,986,657
80,549,007

1825,.........
1826,.........
1827,.........
1828...........

1829,.........
1830,.........
1831,.........
1832...........

1833,.........
1834,.........
1835,.........
1836,.........

1837,.........
1838,.........
1839,.........
18 4 0 ,.........

1 8 4 1 ,.........
1842...........
1 8 4 3 ,.........

$191,350,881

$96,469,469

$287,820,350

$303,955,539

$66,944,745
53,055,710
58,921,691
50,669,669

$32,590,643
24,539,612
23,403,136
21,595,017

$99,535,388
77,595,322
82,324,827
72,264,686

$96,340,075
84,974,477
79,481,068
88,509,824

$229,591,815

$102,128,408

$334,720,223

$349,308,444

$55,700,193
59,462,029
61,277,057
63,137,470

$16,658,478
14,387,479
20,033,526
24,039,473

$72,358,671
73,849,508
81,310,583
87,176,943

$74,492,527
70,876,920
103,191,124
101,029,266

$239,576,794

$75,118,956

$314,695,705

$349,589,837

$70,317,698
81,024,162
101,189,082
106,916,680

$19,822,735
23,312,811
20,504,495
21,746,360

$90,140,433
104,336,973
121,693,577
128,663,040

$108,118,311
126,521,332
149,895,742
189,980,035

$359,447,622

$85,386,401

$444,834,023

$574,515,420

$95,564,414
96,063,821
103,533,891
113,762,617

$21,854,962
12,452,795
17,494,525
17,809,333

$117,419,376
108,486,616
121,028,416
132,085,946

$140,980,177
113,717,404
162,092,132
107,141,519

$408,894,743

$69,611,615

$479,020,354

$523,931,252

$106,382,722
92,969,996
77,793,783

$15,469,081
11,721,538
6,552,697

$121,851,803
104,691,534
84,346,480

$127,946,177
100,162,087
64,753,790




Mercantile Miscellanies.

475

MERCANTILE MISCELLANIES.
COM M ERCE OF T H E P R A IR IE S ; OR, T H E SA NTA F E TRA D E.
The interesting work of Mr. Gregg, on this subject, has furnished us with materials for
an article on the commerce of the prairies, which we have been compelled to defer to a
future number of this Magazine. In the meantime, we giv£ below some more recent par­
ticulars of this trade, furnished partly by the S t Louis Republican, and partly by a new
paper recently established at Independence, Missouri. The editor of the Independence
Journal, says he has been at some pains to collect information in regard to the Santa Fe
Trade, and he estimates the exports at $400,000 dollars in specie, and buffalo robes, furs,
&c., to the amount of $50,000 more. Several of the companies which came in last
spring, have not returned, in consequence of the unfavorable state of the weather. For
this reason, the exports are much less this year than usual. Four companies went out this
year, taking with them merchandise to the value, at eastern cost, of $200,000—the insu­
rance, freight to that point, outfits, &c., cost another $100,000; making the whole sum
invested in this trade $300,000, which would have been increased to $500,000, but for
the bad weather. In the four companies, there were 160 men, and the outfit for them is
stated as follows:—
780 mules, worth each $ 25,.................................................................................
60 oxen,
“
30,.................................................................................
5,000 lbs. bacon, at 3J cts.,.......................................................................................
39 bbls. flour, at $ 5 ,.............................................................................................
90 bushels meal, 30 cents,...................................................................................
Merchandise, outfit for hands,.............................................................................
Harness for teams,................................................................................................
Blacksmiths’ work,................................................................................................

$27,300
1,800
182
120
27
3,500
2,500
500

Making, altogether, the sum of....................................................................

$35,959

exclusive of wagons, wagon sheets, and many other articles purchased at that place. The
number of wagons was 92, each costing $180, many of which were made there; and the
total number of wagon sheets was 1,300, including blankets to put between them.
The trade with Santa Fe is thus made to amount to $750,000; but even this sum is
said to be considerably short of what it is in ordinary seasons. The Independence editor
insists that the trade should no longer be neglected by the government. “ Give us a port
of entry; give us the right of drawbacks, and our traders will supply the whole of the
provinces of Santa Fe, Chihuahua, Sonora, California, and others, instead of being sup­
plied with British goods through Metamoras, Vera Cruz, and other ports. Instead of the
trade being worth half a million of dollars, it will reach to four or five millions.” The
east is said to be deeply interested in this trade, as furnishing an outlet for their calicoes
and domestics—Missouri is interested; and the editor hopes that Congress will act upon
this matter next winter, and give to our traders all the benefits which those of other na­
tions enjoy.
The wagon-makers of Independence have orders to build seventy-five wagons for the
Santa Fe trade, by next spring—only fifty were made the past spring. Several new mer­
cantile establishments have just been located there, and all are doing well. A tumpikeroad from Independence to W ayne city, on the river, will be completed as rapidly as pos­
sible. All that is wanted to make Independence one of the most important towns in
Missouri, is to make it a port of entry, and for the legislature to establish a branch of the
bank at that place, to accommodate the traders, and the commerce of the western part of
the state.




%

Mercantile Miscellanies.

476

T H E P O E T R Y O F COM MERCE.
T H E EM IG RAN T S H IP .

H er anchor is heaved, her sails unfurled—from her prow the cleft waves flee,

1

And she speeds her way to the western world, o’er the bounding Atlantic sea.
She is freighted with treasure, more priceless, far, than gold or diamonds rare ;
Her decks are crowded with life and breath, and hearts and hopes are there.
Hearts which, ere long, may^be crushed—and hopes to be quenched in despair’s deep
gloom,
For the land of promise may only yield to the seeker a lonely tomb.
There are smiles—bright smiles, on the young child’s face, as it gazes on sea and sk y ;
But stern sad thought on the father’s brow, and tears in the m others eye.
The boy is dreaming of ancient woods, of waters so crystal clear,
They seem amid verdurous solitudes, like a liquid atmosphere.
And will they e’er homeward turn once more, those pilgrims upon the wave,
Or where dark pines wave, and cataracts roar, find rest in a foreign grave ?
A few may behold the homes of youth, but more shall in dust repose,
And find relief in a stranger land, from life and its countless woes.
Within the shade of the English tower, mother and sire may dwell,
And rolling waves divide their graves from the children’s they loved so well.
W hat wonder, then, as we voyage on, and billows fond hearts dissever,
They seem to shriek in each startled ear, “ Thou hast quitted thy land forever!”
But a truce to grief—as our white-winged bark speeds o’er the waters blue,
Though we sigh for the old world left behind, we’ll hope on as we seek the new. j. e . d .

COM M ERCE, M A NUFACTURES, AND A G RICULTU RE.
Manufacturers and merchants are to the body politic what the digestive powers are to
the human body. W e could not exist without food; but the largest supplies of food can­
not lengthen our days when the machinery by which nature prepares and adapts it for our
use, and incorporates it with our body, is vitiated and deranged. Nothing, therefore, can
be more silly and childish than the estimates so frequently put forth of the comparative
advantages of agricultural, manufacturing, and commercial industry. They are all inti­
mately connected, and depend upon, and grow out of, each other. “ Land and trade,” to
borrow the just and forcible expressions of Sir Josiah Child, “ are tw ins; and have al­
ways, and ever will, wax and wane together. It cannot be ill with trade, but lands will
fall; nor ill with lands, but trade will fall.” These reasonings cannot be controverted;
and on its authority we are entitled to condemn every attempt to exalt one species of in­
dustry by giving it fictitious advantages at the expense of the rest, as being alike impolitic
and pernicious. No preference can be given to agriculturalists over manufacturers and
merchants, or to the latter over the former, without occasioning the most extensively ru­
inous consequences.
N E W T R A F F IC W IT H AFRICA.
Several vessels have left Liverpool for the Western coast of Africa, with sealed instruc­
tions, to be opened in a certain latitude ; and each carrying an experienced practical che­
mist, furnished with test3 for ascertaining the real qualities and composition of ores and
salts. The destination of these vessels, probably the pioneers of a new traffic, is under­
stood to lie between the 20th and 30th degree of latitude on the Western coast; and their
object, the discovery of certain suspected veins of copper, lead, iron, or gold, stated to ex­
ist about forty miles from the sea-coast, and in a rich and fertile country.




Mercantile Miscellanies.

477

BREACH O F T R U ST IN M ERCH A N TS’ CLERKS.
Two cases of breach of trust recently came to light in Pittsburgh, which we record in
the pages of this Magazine, in the hope that they may serve as a warning to the rising
generation of American merchants, who may be tempted to make Shipwreck of that in­
tegrity which, if it does not always promote success in commercial transactions, imparts
to its possessor what is of far higher value and importance—a peaceful conscience ; the
only source of true happiness.
One of the cases alluded to is that of a young married- man, formerly a partner in a
house which failed there. He was entrusted with $>10,000, and instructions to buy pig
metal on the Cumberland river. Unfortunately, after purchasing, and paying $1,000, he
fell into the company of gamblers, and lost $3,000; then, in hopes of recovering, follow­
ed them to another place, and again played, and lost $3,000 more. Finally, he went to
St. Louis with the balance, leaving his employer minus $9,000. The other case is that
of a young man unmarried, who was entrusted with some $4,000 or $5,000, by a kindhearted friend, who wished him well, and did it, partially at least, to promote hi3 individual
interest. His father is a respectable man, in very easy circumstances. The son had an
excellent prospect of getting into business, aided by the capital of his father and friend,
alluded to above ; but, for the sake of having possession of some $5,000, twice the amount
of which he might have made in a few years, in a legitimate trade, with honor to himself,
he absconded, ruining his prospects in life, and plunging a parent into the deepest distress.
A PA RAGRA PH O F COM MERCE.
TRANSLATED FROM T H E GERM AN OF F R ED ERIK A BREM ER .

Long life to commerce! My soul expands at the sight of its life. W hat has not com­
merce done from the beginning of the world for the embellishment of life, or promoting
the friendly intercourse of countries and people, for the refinement of m anners! It has
always given me the most heartfelt delight, that the wisest and most humane of the law­
givers of antiquity (Solon) was a merchant “ By trade,” says one of his biographers, “ by
wisdom, and music, was his soul fashioned. Long life to commerce! W hat lives not
through it ?” W hat is all fresh life, all movement, in reality, but trade, exchange, gift for
gift! In love, in friendship, in the great life of the people, in the quiet family circle,
everywhere where I see happiness and prosperity, see I also trade. Nay, what is the
whole earth, if not a colony from the mother country of heaven, and whose well-being
and happy condition depend upon free export and import! The simile might be still fur­
ther carried o u t; yet, thou good Giver above, pardon us that we have ventured upon i t !
F IR S T SA LE O F AM ERICA N H A Y A T LIVERPOO L.
W e copy from Gores’ Advertiser the following paragraph, for the purpose of placing
upon record the first importation of American Hay into Great Britain.
On Monday, the 16th Sept. 1844, 192 bales of American Hay, brought by the New
York, and 40 bales, brought by the Concordia, were put up at auction, at the north end of
the Waterloo Dock. As this was the first importation of American Hay to England,
the sale attracted an immense crowd. W e understand that, in the absence of a more lu­
crative description of freight, it was brought over by the owners of the respective vessels
mentioned, in the way of speculation, and as a sort of feeler. It is not what would be
considered the be3t, or any thing like the best hay in England. It is the coarsest we
have ever seen, portions of it resembling straw, or the strong, tough sprouts which grow
on the margins of water-pools. Nevertheless the bids were higher, at all events as high,
as could have been expected. The auctioneer on the occasion was Mr. J. H. Rayner.
The lots, for the most part, consisted of eight or ten bales each, and were knocked down
at prices ranging from 7£d. to 7fd. per stone. One lot of twelve bales fetched 8d., and
this was the highest bid of the day. The sale was briskly conducted, and was all over in
the course of an hour.




478

Mercantile Miscellanies.
A FR IC A N GUANO TRADE.

As this novel branch of commerce is exciting considerable interest among a portion of
the mercantile classes, we have deemed it of sufficient importance to collect and lay be­
fore our readers from time to time such statements bearing upon the subject as we con­
sidered authentic and reliable. A late number of the London Shipping List contains the
following letter, dated Ichaboe, June 20th, 1844:—
“ "We arrived here on the 16th from Augra Pequena, where we lay three days, during
which I examined that Island and the bays thereabout, but could find no Guano worth
loading. There is plenty of excellent Guano here, but it is a wild place, and difficult to
load on account of the heavy sea that rolls in from the S. W. and S. S. W . It is a most
miserable place for a ship in winter. W e have commenced loading, and, if the weather
keep fine, expect to be loaded in about a month ; but if the weather be rough, it is impos­
sible to say when we shall be loaded. There are about 45 English and one American
vessel loading here, several of them from 500 to 600 tons register. About a fifth part of
the Guano has been shipped off the Island; but what is left will last from 12 to 15
months, at the present rate of shipment, as the Island is one mass of Guano, about 50
feet thick in the centre, declining toward the water’s edge ; it is nearly half a mile long,
and about a quarter broad.”
Two cargoes of Guano, the last arrival at Liverpool, sold at £ 6 5s. About 100 tons,
brought £ 6 2s. 6d. to £ 6 5s. For delivery the first three months of next year, several
cargoes have been sold at .£6 to £ 6 2s. 6d.
W e find the following paragraph in Burke’s account of the European settlements in
America, (Burke’s works, Little & Brown’s edition, vol. 9, p. 176,) which apparently refers to one of the Guano Islands:
“ The district which produces this pepper in such abundance, is small but naturally bar­
ren ; its fertility in pepper, as well as in grain and fruits, is owing to the advantages of a
species of a very extraordinary manure, brought from the Island called Iquiqua. This is
a sort of yellowish earth of a fetid smell. It is generally thought to be the dung of birds be­
cause of the similitude of the scent, feathers having been found very deep in it, and vast
numbers of sea fowls appearing upon that and all the adjacent coasts. But on the other
hand, whether we look upon this substance as the dung of these sea fowls, or a particular
species of earth, it is almost equally difficult to conceive how the small island of Iquiqua,
not above two miles in circumference, could supply such immense quantities, and yet after
supplying upwards of twelve ship loads annually for a century together, for the distant
parts, and a vastly larger quantiry for the use of the neighborhood, it cannot be observed
that it is in the least diminished, or that the height of the island is at all lessened.”
In regard to the origin of the name “ Guano,” as applied to this manure, a learned cor­
respondent of one of the religious magazines suggests that, as “ there is nothing new un­
der the sun,” it was this manure which in the following passage, (2d Kings, vi. 25) is
mentioned as having been sold in Samaria, at a time of scarcity, at an enormous rate:
“ And there was a great famine in Sam aria; and, behold, they besieged it, until an
ass’s head was sold for four pieces of silver, and the fourth part of a cab of doves’ dung
for five pieces of silver.”
A more careful consideration of this verse must convince the critic that doves’ dung was
not to be employed as manure for the rearing of a future crop, in a besieged place, in
which there was ihen a pinching famine. To us, there appears no doubt that the doves’
dung, like the other unsavory articles classed in a category with it, was to be employed
somehow as an article of food—probably for the sake of the undigested grain which it
commonly contains, as it is well known that what grain the birds swallow whole is usu­
ally passed whole. Indeed, it will be remembered that during a grievous famine in India*
comparatively recent, the people were represented as reduced to picking the grains of
rice from ordure. The etymology of Guano might perhaps suggest curious matter for
speculation to those having a taste for such inquiries. The words “ Geyona,” in Hebrew,
signify Dove-valley, and the manure is certainly found in deep pits lying between ac­
clivities.




Mercantile Miscellanies

479

GOLD COIN—C O U N T E R F E IT SO VEREIG NS.
R. B. Bates, Esq., of Poultry, London, (Eng.,) has communicated to the government
of the United States, through Lieutenant M. F . Maury, U. S. N., Hydrographical Office,
Washington city, the following particulars relative to counterfeit sovereigns, which have
made their appearance in England. It is supposed, by Mr. Bates, that this false coin must
be principally intended for circulation on the European continent, or rather in the United
States, (on account of the large quantity of sovereigns known to be in circulation in this
country,) because, although the state of the coin indicates some degree of wear, there lias
not yet been any passed through the Bank of E ngland; issuers being, without doubt,
aware of the rigid scrutiny now exercised there. Mr. Bates says— “ The officers of the
British mint brought me a false sovereign to examine, and report its specific gravity. W e
found it to be 13. 58., (with reference to distilled water as Unity, at 62 Fr.,) which is
about half the value of standard gold. The imitation of the coin is so perfect, as to have
deceived the die-sinker himself; and its execution, altogether, is of such a quality as to
excite the most intense interest and anxiety in all who have seen i t The impression of
the sovereign imitated is that of Queen Victoria, and is so exquisitely done, as to defy de­
tection by comparison, except in two or three very minute instances; the most obvious of
which is the difference in the dotting of the ground or field “ or,” in that quarter of the
shield containing the single lion. W ith the aid of a magnifying glass, the dots on the
ground of the false coin will be found to be more distinct, being crossed, or further asun­
der than in the real coin. The specimen Mr. Bates saw was gilt, of course, the color of
fine gold; but, on being cut, it shows the redness arising from the alloy of copper.

BANK O F JO N E S, LOYD & CO., M A N CH ESTER.
It is stated in the Bath (Eng.) Chronicle, that Samuel and William Jones, the founders
of the house in Manchester, were originally tea-dealers—worthy and excellent men.
From discounting bills, according to the cash received in their business, they became
bankers, without any large capital; probably, and according to general belief, with not
more than £20,000 in the beginning. They did not issue notes payable on demand, be­
cause that was against the taste of the community; but everybody knows that they were
very large issuers of small bills, at two or three months after date, drawn upon their own
house in London—bills, in fact, as the common phrase is, of “ pig upon bacon.” And
these issues w'ere in discount of other bills, or in the shape of advances upon other secu­
rities, convertible within a definite period. By tins system of credit dealing, the eminent
firm of Jones, Loyd & Co. have now come to be possessed, upon a moderate calculation,
according to the general opinion of the day, of wealth equal to three or four millions
sterling. Mr. Samuel Jones Loyd, however, already the possessor of no inconsiderable
proportion, and the sole absolute heir of all this enormous wealth, is preecisely one of the
most leading men in the crusade against the free dealing in credit, by which his own, and
the countless riches of his family, have been fabricated. The original Joneses—worthy
men, we repeat—have died, leaving Mr. Samuel Jones Loyd sole heir to their large for­
tunes, as he is to the measureless hoards of his father. The capitalist of millions thus
created out of credit, would, however, kick down the ladder by which he and his arrived
at their present position.

B ook- keeping .—W e are requested to state that J. W. Wright, Accountant, and Author
of English Grammar, &.C. & c., will open his Evening School on the 4th of November,
1844. His system of Book-keeping embraces all possible cases of partnerships and their
dissolutions. His system of Grammar includes style and composition, &c.




Mercantile Miscellanies.

480

T H E W OOL O F T H E ALPACA.
Probably few ladies who wear and admire the beautiful fabric called Alpaca, are aware
of the source of its production. The Alpaca is a wool-bearing animal, indigenous to
South America, and is one of four varieties which bear general points of resemblance to
each other. The Lama, ohe of these varieties, has been long known and often de­
scribed ; but it is only within a few years that the Alpaca has been considered of sufficient
importance to merit particular notice. Nine-tenths of the wool of the Alpaca is black,
the remainder being partly white, red and grizzled. It is of a very long staple, often
reaching twelve inches, and resembles soft glossy hair—which character, is not lost in
dyeing. The Indians in the South American mountains, manufacture nearly all their
clothing from this wool, and are enabled to appear in black dresses, without the aid of a
dyer. Both the Lama and Alpaca are, perhaps, even of more value to the natives as
beasts of burden than wool-bearing animals, and their obstinacy, when irritated, is well
known. The importance of this animal has already been considered by the English, in
their hat, woolen and stuff trade, and an essay on this subject has been published by Dr.
Hamilton, of London, from which some of these details are collected. The wool is so
remarkable, being a jet black, glossy, silk-like hair, that it is fitted for the production of
texile fabrics differing from all others, occupying a medium position between the wool
and silk. It is now mingled with other materials in such a singular manner, that while
a particular dye will affect those, it will leave the Alpaca wool with its original black co­
lor, thus giving rise to great diversity.

A M ER IC A N PRO VISIO NS IN ENGLAND.
The London Trade Report, of September 18th, gives an account of the sale of Ame­
rican provisions which took place at the warehouse of Messrs. Keeling & Hunt, Pudding
Lane, London, on the 12th September, 1844. “ The sale consisted of hams, pork, select­
ed for the country trade, ox-tongues, smoked beef, family beef, and sausages, the whole
of them imported into England, and sold duty paid, for the purpose of ascertaining
whether it were possible to bring this description of food into competition with home pro­
duce. The business of the day commenced with putting up 975 hams, from New York,
of fair average quality, equalling what is generally found at cook-shops in London. These
produced about 42s. per c w t ; a further quantity of 3,025 hams, from the same place, sold
for 375. The pork, wdiich was a remarkably good article, net too salt, and apparently
well fed, fetched 305. per cw t.; whilst 100 kegs of ox-tongues, which were remarkably
good and well flavored, and equal to anything that could be obtained in London, produced
at the rate of 15. l id . to 25. each. The smoked beef, very fair, sold for 395. per cw t, and
150 half-barrels of family beef, apparently well fed and sound meat, but rather too highly
salted to please the majority of English eaters, found ready purchasers at 405. per c w t;
the sausages fetched 9 d. per lb.; the undressed turtle, 5s. per lb. The quality of the pro­
visions exposed at this sale was very superior to anything heretofore produced from
abroad. Indeed, the improvements made in the art of curing were the general subject of
remark.”
Mr. Lyford, of the Baltimore Commercial Journal, says that the first exports, after the
modification of the British tariff, were made from that city. The following is an extract
from a circular received by Mr. Lyford, by a late steamer, from Mr. James M ’Henry, a
distinguished provision dealer in Liverpool, with whom some of the Baltimore packers
have transactions, and is dated September 3d, 1844:—
“ Since the first imports of American provisions, the trade has made rapid progress
W e commence a new season with more settled prospects than we could, at the same pe­
riod last year, have anticipated. The supplying ship-stores has passed entirely from the
hands of the Irish, and is now enjoyed almost exclusively by the Americans. The strong




Mercantile Miscellanies.

481

prejudice against American beef and pork has disappeared; and these articles, which,
during the elections, three years since, were exhibited on poles through the streets, as a
disgusting spectacle, now command a sale which will shortly reach 30,000 tierces per
annum. This gratifying and unexpected result has arisen from the favorable reports made
by masters of ships, on return from long voyages, and from the perseverance of shippers,
in the face of disastrous sales, and their facility in adapting their cure and packing to the
wants of their new customers. The singular variety of the exports that have been thrown
on the market with such astonishing rapidity, are sources of continual wonder to our
English friends; and, if some of these adventures have turned out unprofitably, others
have at once commanded favor; whilst a large portion will, no doubt, come into greater
consumption, when their merits are mere generally known. American hams have had to
struggle against a high duty, and competition with the excellent home-make, and the cele­
brated Westphalia, which are of such good repute even in America. The sales have not,
therefore, been extensive ; but we have one or two parcels now here, that are destined to
make their way into favor.”

AN EX A M PLE O F M E R C A N T IL E IN T E G R IT Y .
W e have occasionally recorded in the pages of this Magazine instances of commercial
integrity on the part of bankrupt merchants, alike honorable to that class of community
and human nature ; but we do not recollect of an example of the kind mere worthy of
imitation, than that described in the paragraph below, which we copy from the Boston
Courier. Its influence must prove more effective than a hundred lectures on the morals
of trade, though emenating from “ thoughts that breathe and words that burn.”
A failure happened in Boston yesterday to a large amount—unexpected probably, un­
less to a very few. The annunciation of the fact produced, generally, such indications of
sympathy and regret aa we seldom witness on similar occasions. The gentleman who is
at the head of the establishment has long been known and esteemed as one of the most
open, generous, upright merchants in the community. W'hen such men fail, society suf­
fers. But the gentleman to whom we allude does not fail. He may suffer a transient
eclipse, in consequence of embarrassments in trade ; but he has a capital in his character,
which will carry him triumphantly through the storm. W e believe in his integrity—we
know the generosity of his disposition, and the nobleness of his soul—and we trust in the
sympathies of an intelligent and generous community to sustain and console him in this
day of misfortune, and to encourage him in any attempt he may make to recover the in­
dependence and the affluence he deserves.
This paragraph was published in the Courier of March 18,1842. W e republish it as a
text, which needs no other comment than the following statement:
The assignee in bankruptcy of the estate of the late firm of James Read and Company,
having completed the liquidation of said estate, has notified the creditors that he shall this
day pay a final dividend. The amount which tills firm owed at the time of its failure in
the spring of 1842, was about §850,000. The sales and collections made by Mr. Morey,
the assignee, have produced in cash nearly §800,000, by which he is enabled to pay the
debts proved, within an amount somewhat over $50,000. Such a result as this has rarely
happened in the settlement of a bankrupt estate. Both partners received, sometime since,
a full and honorable discharge, and we now learn that the active partner, Mr. James
Read, has added to what has thus been realized from the assets of the concern a sum ex­
ceeding f if t y thousand dollars , being the earnings of a prosperous commission business
during the past two and a half years, by means whereof every creditor of said firm will
receive a hundred cents on a dollar of the amount of his debt, as proved by him against
said estate, and allowed by the court.
When we consider the great amount of the debts of said firm, and of the cash realized
from the assets, being nearly §800,000, and also the large sum now voluntarily furnished
by Mr. Read, being the whole of his subsequent earnings, acquired, too, by intense appli­
cation to business ; and when also, we consider the extraordinary success of his efforts in
accumulating so large a sum since the date of his misfortunes, and his willingness now, a
second time, to dispossess himself entirely of property, for so honorable a purpose, we
must pronounce this a case almost without a parallel in the history of this, or any other
mercantile community.




482

Mercantile Miscellanies.
L A K E SU PE R IO R C O PPE R COM PANY.

The region bordering on Lake Superior abounds in various kinds of mineral wealth;
but it is only recently that any systematic efforts have been made to develop its hidden
treasures. A large tract of country, it is stated in the Detroit Advertiser, embracing the
mineral district, was purchased by our government from the Indians in 1842; and the
government at once adopted the policy, (and we think it was a wise one,) of granting
leases to practical miners, of such portions as they should select for their mining opera­
tions. T hat tract thus selected, is termed a location, and embraces three miles square,
or nine square miles of lan d ; and the proprietor of the lease enjoys the exclusive posses­
sion of it for nine years, upon paying to the government 6 per cent of the mineral, by way
of ren t The company above named was formed last winter, and the stock is owned by
gentlemen in Boston, Washington, St. Louis, and Detroit. They have obtained leases
for fifteen such locations, said to be well selected, and rich in copper ore, and are now ac­
tively engaged in prosecuting their business. Their head-quarters are at Eagle Harbor,
on Point Keweenan. About twenty Cornish miners, under the superintendence of C. A.
Gratiot, of Mineral Point, are now digging the ©re; but the company do not intend com­
mencing the smelting process until next spring. Mr. C. C. Douglass, late assistant to Dr.
Houghton, has been engaged by the company as their geologist.

A M ERICA N C H E E S E IN ENGLAND.
At a recent meeting of the South Derbyshire (England) Agricultural Society, Mr. Col­
ville, M. P., who filled the chair, drew the attention of the farmers to the import of Ame­
rican cheese, for the purpose of calming their fears. He showed that, although the im­
port of American cheese had considerably increased, it had driven the Dutch cheese out
of the m arket H e produced a table which showed, that from 1831 to 1840, the importa­
tion from America had fluctuated, without any regularity, between nothing and 50 hun­
dred w eight; from Holland or Belgium the importation had increased, in the same pe­
riod, from 133,397 hundred weight to 224,957 hundred w eight; from other European
countries the supply had remained insignificant and nearly stationary—1,049 in 1831,
1,464 in 1840 ; the aggregate importations advanced from 134,459 in 1831 to 226,462 in
1840. The last figures of the table we take as they stand: they show the imports of
cheese, in hundredweights, from the places named for the last three years.
Year.
America.
Europe.
Total.
1841
...........................
15,154
254,995
270,149
1842
...........................
14,098
165,614
179,749
1843
...........................
42,312
136,998
179,389
The importation of cheese had decreased during the last ten years by nearly 32,000
hundredweight, while the population has increased by 2,300,000 mouths.

IM P R ISO N M E N T FO R DEBT.
In looking over an old book the other day, saj^s the Journal of Commerce, entitled
li A Memorial addressed to the Sovereigns of America, by T. Pownall, late Governor,
Captain-General, Vice Admiral, &c. of the Provinces, now States, of Massachusetts Bay
and South Carolina, and Lieut. Governor of New Jersey,” published in London in 1783,
we met with the following passages on the subject of imprisonment for debt, which, it
struck us, breathed sentiments in advance of the age in which he lived.
“ Imprisonment for debt is a direct solecism in policy, not relevant to the ends of dis­
tributive Justice, and contrary to every idea of the advantages which the community is
supposed to derive, in some degree or other, from every individual. Imprisonment can­
not pay the debt; is a punishment that makes no distinction between criminality, or the
misfortune which may have occasioned the debt The* glaring injustice of this punish­
ment hath led to two remedial Laws, the Statutes of Bankruptcy and Statutes of Insol­
vency, which are sources of endless frauds. The locking-up the debtor from ail means
of Labor or Employment, is robbing the community of the profit of that labor or employ­
ment which might be produced, is making the Debtor a burthen to his Creditor and the
public. If any fraud or other criminality appears amongst the causes of the debt; or if it
hath been occasioned by an undue course of living above the circumstances of the debtor;
correct the vicious Follies, punish the Fraud. But taking the debtor, simply as a debtor,
pity his misfortune; do justice, nevertheless, to the creditor.”




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T H E BOOK T R A D E .
1. — The History o f the Puritans, or Protestant Non-Confoi'mists, from the Reformation
in 1517/ comprising an account o f their Principles, their attempts for a farther R e f or•
mation in the Church, their Sufferings, and the Lives and Characters of their most con­
siderable Divines. By D aniel N eal , A. M. Reprinted from the text of Dr. Toulmin’s
edition, with his Life of the Author, and account of his writings. Revised, corrected,
and enlarged, with additional notes. By J ohn O. C houles, A. M. W ith nine portraits
on steel. In 2 vols., 8 vo., pp. 534-564. New York: Harper & Brothers.
This standard work exhibits, in a clear form, the relation of the Puritans to the Esta­
blished Church during the period of the important political epoch of which it treats. It
is learned, full, and able ; and the direct bearing which the controversies here described
had upon the early colonization of New England, renders the volume of peculiar interest
to the American public. W e have, indeed, in these volumes, a complete ecclesiastical
history of an interesting period in the English Church, when the passions of men were
sharpened to the most ardent theological controversies. W e here behold the points in dis­
pute between the two great parties in that church, and the consequences which they pro­
duced, in a clear and accurate form. It is a source of satisfaction to the candid mind, that
the bitterness of that day has been somewhat softened in our time, by the true spirit of
Christian charity. The republication of solid and standard works, in our own country,
has become, we perceive, a favorite enterprise with some of the leading publishing houses
in the principal cities; and we trust that it will be encouraged by the improving taste and
intelligence of the country.
2. — The First Three Books o f Homer's Iliad, with Notes, tfc. By C harles A nthon,
L. L. D. New York: Harper &. Brothers.
This is by far the best edition ever published of that part of the Iliad usually read in
the preparatory course of classical studies. The notes are very copious, and furnish a
most valuable exposition of the text. Professor Anthon has added to the work the origi­
nal text with the diagamma, a metrical index, and a Homeric glossary. His series of
school-books is so universally known and adopted in schools, as to render unnecessary
any further reference tjo their m erit The complimentary dedication of this work is wor­
thily bestowed on a gentleman, who came to the city of New York literally with a shilling
in his pocket; but by industry, temperance, integrity, and, in short, the practice of all
those virtues which, in our republic, are sure to command success in business, and the
esteem of mankind, has risen, step by step, from the printer’s boy, through all the grades
of the art, to the head of the first, and probably the wealthiest publishing house in the
United States, and is now the Mayor of the commercial capital of the Union. W e say,
therefore, that this work is deservedly dedicated to Mayor Harper, “ as a tribute of respect
for the faithful discharge of public duties; a token of sincere regard for the many excel­
lent qualities that adorn his private character, and a memorial of old and uninterrupted
friendship, by the editor,” (Dr. Anthon.)
3. —On the Use o f the Bible. By F enelon. W ith Fletcher's Illustrations. To which
is appended the Celebrated Pastoral Charge o f the Archbishop o f Tours, on the Authority of the Church to Interpret the Scriptures. Translated from the French, &c.
New York: Casserly & Sons.
To the devout Catholic, this little volume will, no doubt, be highly acceptable at this
tim e; and to those who are desirous of ascertaining the features that distinguish the
Church of Rome from the different sects, in regard to the use of the Bible, and the au­
thority of the Church to interpret the Scriptures, we commend this w ork; although, we
must confess, we know of no higher authority than a clear head and a loving heart; or
the divine speaking to man through reason, faith, conscience.




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4. — Incidents o f Social L ife amid the European Alps. Translated from the German of
J. H einrich D. Z schokke. By Louis S track . New Y o rk : D. Appleton & Co.
The delineation of European manners and sentiments, embraced in this volume, are
selected from the works of Zschokke, a native of Magdeburgh, in Prussia, and now, at
seventy-three years of age, a citizen of Switzerland. Several of his works have been
translated, and published in London, where their popularity is said to be unbounded. The
present contains four sketches. “ The Fugitive o f the Jura” reminds the reader of the
beautiful poem of Montgomery, entitled “ The W anderer of Switzerland,” for the Grist
and the professor seem to have drawn their materials from the same source. “ Marble
and Conrad” is a very exemplary portraiture for youth; the embodiment, peradventure, in
another form, of the author’s own wanderings. “ Mend the Hole in your Sleeve” is one
of the most useful and attractive moral descriptions, to be found among our lighter litera­
ture. “ A Fool o f the Nineteenth Century” is an admirable satire upon the antiquated
feudalism, and the aristocratic hollowness and injustice of the old European nations. In
“ Hortensia,” tha author probably meant to disclose his own spiritually refined views of
man in his loftier relations; and will, we predict, take rank among that complex and
decorative biography, which is “ history teaching by example.”
5.

— Narrative o f a Visit to the Syrian (Jacobite) Church o f Mesopotamia ; with state­
ments and reflections upon the present state and character o f Christianity in Turkey,
and the character and prospects o f Eastern Churches. By the Rev. H oratio S outhgate , A. M. New Y ork: D. Appleton & Co.
T hat the efforts of the modern missionary have been productive of benefits to the race,
there can, we think, be no manner of doubt. Aside from the promulgation of the facts of
Christianity, the social amelioration that follows in its train, and the valuable information
gathered by the missionary in the field of his labor, are amplysufficient to pay back to the
friends of the cause all they have expended, with interest. Mr. Southgate was sent out
under the auspices of the Episcopal Church in this country, for the purpose of “ promoting
a friendly intercourse between the branches (Eastern and Western,) of the one Catholic
and Apostolic Church.” How far that object has been accomplished, wc will not antici­
pate the reader by attempting to decide ; but this much we will assure him, that he will
find the present volume instructive as a narrative of travel and observation among an inte­
resting people of the great brotherhood of man, in a part of the world connected with as­
sociations in the history of the race, that will not soon cease to excite his curiosity as an
enlightened Christian, in the search after the materials for philosophic investigation.
6.

— The Apostles Doctrine and Fellowship. Five Sermons, preached in the principal
Churches o f the Diocese during his Spring Visitation, 1844. By Rt. Rev. L. S illiman
I ves, DD., LL.D., Bishop of North Carolina. New Y o rk : D. Appleton & Co.
The five discourses in this volume are published by the unanimous request of the North
Carolina Episcopal Convention. The object of publishing them, as stated in Bishop Ives’
reply to the committee appointed to communicate the request of the Convention, was “ to
protect God’s truth from harm at a time of extraordinary confusion on matters of faith; a
confusion growing out of unfounded and indiscriminate charges against Church Catholic
doctrines, as Eomish heresy; thus unsettling the minds of some, and threatening loss to
t he Church of Jesus, and to the souls for which he died.” The peculiarities of the Episco­
pal Church are discussed and defended with the usual ability of this distinguished prelate,
and his labors will doubtless be appreciated by a large portion of the members of that
communion in the United States.
7 . — Old Humphrey's Country Strolls. By the author of “ Old Humphrey’s Observa­
tions,” “ Addresses,” “ Homely Hints,” etc. New York: Robert Carter.
Those who have read and admired the previous works of “ Old Humphrey,” know how
to appreciate his pithy, sententious style, and the vein of practical good sense and philan­
thropy that run through all his writings. The present volume possesses all that individu­
ality that inspires the reader with a desire to know the author.




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8 .— The

Works o f the Rev. Robert Hall, A. M . W ith a Memoir o f his L ife, by Dr.
Gregory; Reminiscences, by John Greene, Esq., and his Character as a Preacher. By
the Rev. Jons F oster. Published under the superintendence of O linthus G r e so r y ,
LL. D., F. R. A. S., Professor of Mathematics in the Royal Military Academy, and
J oseph B elcher , D. D. In four volumes. New York: Harper & Brothers.
The American public are here furnished with another standard theological work, from
one of the most distinguished Baptist divines of Great Britain. It embraces the great
bulk of his sermons, and also his political essays, exhibiting the full proportion of his
moral and intellectual efforts during an active life. The prominent traits of his works, in
our ju lgment, are clearness, eloquence, a full and flowing style; all borne along by an in­
genuous philanthropy, founded upon a desire to improve the moral and religious condition
of those whom he addressed. They are a most valuable contribution to ecclesiastical lit­
erature, and will be highly and justly prized by the very large and respectable denomina­
tion, in our own country, to which he was particularly attached.
9-.— Sermons by H ugh Blair, D. D., F. R. S. Edinburgh, one o f the Ministers o f the
H igh Church, and Professor o f Rhetoric and Belles Lettres in the University o f E din­
burgh. To which is prefixed, the Life and Character o f the Author. By J ames F in layson , D. D.
Complete in one volume. From the last London edition. Printed
verbatim from the original edition. 8 vo., pp. 622. New York: John S. Taylor & Co.
Dr. Blair is too well known to the readers of the present day, to require our commen­
dation. His lectures on rhetoric and belles lettres have been long used as a text-book in
the colleges and higher schools of this country, and have received the stamp of general
popularity. The present volume, embracing his sermons, exhibits the clearness of argu­
ment and the elegance of style that we might reasonably expect from one who is most
distinguished as a critic, and a learned teacher of the art of composition, as well as a
popular theologian. George III., of England, was the friend and patron of Dr. Blair,
and is said to have expressed the wish that the Bible and these sermons were in the hands
of every youth in the United Kingdom.
10.

— The Works o f that Learned and Judicious Divine, Mr. Richard Hooker. W ith an
account o f his Life and Death. By I saac W alton . Arranged by the Rev. J ohn
K eble , M. A., late Fellow of Oriel College, Oxford, Professor of Poetry. First Ame­
rican, from the last Oxford edition. In 2 volumes. 8 vo., pp. 511-447. New York:
D. Appleton & Co.
We here have another standard work of one of the great theological writers of E ng­
land. Although some of the arguments maintained would not suit the public opinion of
the present age, the efforts of a man like Mr. Hooker, termed by courtesy “ the judicious,”
will be read -with profound respect for their power of thought, their splendid but quaint
diction, and their apparent honesty. They embody vast learning; they are full in discus­
sion of the ordinances of the church to which he belonged, and will doubtless form a part
of every theological library.
1 1 . — The Clay Code, or Text-Book of Eloquence; a Collection o f Axioms, Apothegms,
Sentiments, and Remarkable Passages on Liberty, Government, Political Morality,
and National Honor, gathered from the Public Speeches o f Henry Clay. Edited by
G. V andenhoff , Professor of Rhetoric. 12mo., pp. 150. New Y ork: E. Shepard.
The volume whose title we havp quoted, contains the most brilliant passages from the
speeches of Henry Clay, which have been made during a long and active political career.
Those passages refer to almost every subject connected with the public interest, with which
he has been closely identified for the last thirty years; and they exhibit clearly the promi­
nent traits which distinguish this most commanding orator and statesman. In them, wc
behold a comprehensive genius, a fearless moral courage, an impressive eloquence, and a
broad patriotism, which are as closely interwoven with the interests of his native land, as
are the mountains and the rivers, the lakes and the forests of the nation, with its soil. It
js a most appropriate text-book in aid of the purpose for which it is designed.




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12. — The Opal; a Christmas G ift for the Holidays. Edited by Mrs. S arah J osetha
H ale . Illustrated by J. G. C hapman . New Y ork: J. C. Riker.

The little volume bearing the name of that gem which always appears to us to emit a
lustre like the moon, contains some pieces of a substantial character, as well as those of
a lighter cast. Mrs. Hale has been judicious in her selection of the contributions, as well
as the adornment of the book. It is of a decidedly moral tone, and it constitutes a beau­
tiful and appropriate present for the holidays. W e are rejoiced to learn that the experi­
ment of last year convinced Mr. Riker, the publisher, that an annual prepared with
reference to the true Christian standard, showing goodness in an agreeable light, virtue in
her sweet loveliness, and piety cheerfully promoting happiness, cannot fail of success13. — The Gift, fo r 1845. 8vo., pp. 300. Philadelphia: Carey &, Hart.
This is an unusually large and elegant annual, and its contents are in keeping with the
physical character of the work. They embrace highly valued contributions from Henry
W . Longfellow, N. P. Willis, W. H. Furness, R. W. Emerson, Mrs. Sigourney, Charles
Fenno Hoffman, H. T. Tuckerman, and others, who have earned a well deserved repu­
tation in this department of periodical literature. The engraved illustrations are well exe.
cuted ;■and the embellishments of the volume, in other respects, are elegant and appro­
priate. It is, on the whole, the gift-book of the season.
14. — The History o f the Popes, their Church and State, in the Sixteenth and Seventeenth
Centuries. By L eopold R anke . Translated from the last edition of the German. By
W a lter K eating K e l l y , Esq. B. A., of Trinity College, Dublin. 8vo., pp. 664. Phi­
ladelphia : Lea & Blanchard.
T he History of the Popes exhibits the most prominent circumstances which marked
that gigantic hierarchy, the Church of Rome, during the time of which it treats. It ap­
pears to be a labored and solid work, and is written in a clear and popular style. It com­
mences with a consideration of Christianity in the Roman empire, traces the connection
of Papacy with the state at different periods, with all its remarkable vicissitudes, and
comes down as late as the year 1829; It is doubtless a work of standard value, and will
go to form a part of every well selected library.
1 5 __ A Drama o f E xile, and other Poems.

By E lizabeth B. B arrett . 2 volumes.
New Y o rk : Henry G. Langley.
W e may safely commend these volumes to our readers. They include at once some of
the most elevated, sublime, and delicate poems of the present age. Their morality is
Christian m orality; not the morality of a set religious purpose, appearing on the outside
in mere vague declamation, but the deep devotion of the soul in a heart and mind mutu­
ally instructed in the sublime sorrows and hopeful joys of the Gospel. In truth, this is
one of the rarest gifts of the muse in our time. It is poetry—lofty, noble, pure; inspiring
zeal and devotion for all good and intellectual pursuits. Miss Barrett’s life is simple-mind­
ed, her objects devout. H er poetry gives us pleasure, and it leads us to a higher sense of
enjoyment than mere pleasure. No better volumes could be read and studied by readers
of her own sex.
16.— The L ife o f Francis Marion. By W . G ilmore S imms. New Y ork: Henry G.
Langley. 12mo., pp. 347.
Mr. Simms is certainly entitled to great credit for his industry and talent in illustrating
the history of the southern portion of the Union. Besides placing before the public seve­
ral popular romances, he has compiled a clear and compact, though brief history of South
Carolina, which is now followed by this life of Marion. The subject of the biography
was a distinguished actor in the American revolution. He was a brave and patriotic
officer, and his name is identified with the history of his native state. The author appears
to have done justice to his subject, and has given us an account of the life of this daring
and successful man, in a very appropriate form.




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17 .— Connection o f Sacred and Profane H istory ; being a Review o f the Principal Events
in the World, as they bear upon the state o f Religion, from the close o f the Old Tes­
tament History till the establishment o f Christianity. By D. D avidson. 3 volumes,
12mo. New Y ork: Robert Carter.
This is certainly one of the most valuable contributions to the historical and religious
literature of our times, and affords new evidence of the importance of connecting the
study of sacred with profane history. It differs in several important particulars with simi­
lar preceding works, particularly in regard to Nebuchadnezzar’s cpnquest; in tracing the
events by which the Greeks ascended to universal empire; the Punic wars, & c.; but our
space will only admit of the bare mention of the facts. The object of the work is to in­
duce readers of history, especially the young, to investigate the designs of God in his
administration, and to recognize his unsearchable perfections and absolute goodness in all
things. Three volumes of about two hundred and fifty pages each, at $1 50, is cheap.
—A Commentary on St. P aul’s Epistle to the Galatians. By M artin L uther. New
Y ork: Robert Carter.
The admirers of that faithful and fearless champion of the Reformation will heartily
thank Mr. Carter for reproducing in this country an edition of this remarkable work of
Luther, on the Galatians. It is a very beautiful specimen of the typographic art in this
country,-printed on a very fine white paper; and, although forming an octavo volume of
more than five hundred pages, is afforded at the astonishingly low price of one dollar and
fifty cents; thus placing it within reach of every family where the doctrines of the Refor­
mation are held with love and veneration.

18.

19. —A System o f Universal History in Prospective. By E mma W hlaied . Philadel­
phia: A. S. Barnes & Co.
Mrs. Willard, who has been quite successful in the composition of several popular
works, has executed this volume upon a new plan. It is amply provided with maps and
engravings, as well as with chronological references. W e here have a general survey of
universal history. The volume exhibits uncommon ofder, condensation, and clearness of
style; and presents, in a succinct form, the most remarkable historical facts which have
distinguished the progress of the human race.
20. — The Works o f Charlotte Elizabeth. Vol. 2. New Y ork: M. W. Dodd.
We noticed, in a former number of this Magazine, the appearance of the first volume
of the works of this popular writer. The second is now before us, and is equal, in all
respects, to its predecessor. It embraces seven works, viz: Izram, a Mexican Tale—
Helen Fleetwood—Passing Thoughts—The Flower Garden—Poems on the Peninsular
War—Principalities and Powers in Heavenly Places—Second Causes; or, Up and be
Doing.
21. — The Psalmodist; a Choice Collection o f Psalm and H ymn Tunes, chiefly new.
Adapted to the very numerous Metres now in use; together with Chants, Anthems, and
other Pieces, for the use o f Choirs. B y T homas H astings and W illiam B . B radbury .
New Y ork: Mark II. Newman.
The music in this volume, derived from interesting sources, appears to have been pre­
pared with the utmost labor and care. Most of it is now for the first time presented to
the American public, and is adapted to fifty different metres, found in the most popular
psalm and hymn-books of the present day.
22. —Christian Fragments; or. Remarks on the Nature, Precepts, and Comforts o f Re­
ligion. By J ohn B urns, M. D., F. R. S., Professor of Surgery in the University of
Glasgow. New York: Robert Carter.
Here is a collection of fragments, relating to the nature, precepts, and comforts of the
Christian religion, that the devout reader may take up, and lay down, without breaking
any train of reasoning. It is, in the popular application of the term, orthodox, or evan­
gelical.




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W ORKS IN PA M PH LET FO R M , RECEIVED SINCE OUR LA ST.

1. —A New System o f Domestic Cookery, founded upon the Principles o f Economy, and
adopted to the Use o f Private Families. By Mrs. R andell . From the sixty-seventh
London edition. Augmented and improved by the addition of more than nine hundred
receipts, suited to the present state of the art of Cookery. Philadelphia: Cary & Hart.
[This is a reprint from the English edition, and it is stated that 280,000 copies of it
have been sold in England, and that Mr. Murray, the London publisher, paid Mr. Ran­
dell 2,000 guineas for the copy right of the work. It was originally intended for the
circle of the families of the authoress’s own daughters, and “ for the arrangement of
the table, so as to unite a good figure with economy.”]
2. —Peter Ploddy, and other Oddities. By J oseph C. N eal . Author of “ Charcoal
S k e tc h e s w ith ten Illustrations, engraved by Croom, from original designs by Dorley.
Philadelphia: Carey & H a rt [The letter press sketches in this readable little volume,
overflow with rich humor and pathos; and the designs of the artist are the best we
have ever seen on this side the Atlantic.
3. — The Illustrated Bible History, a compilation o f the Important Events recorded in the
Old and New Testament. New Y ork: Wilson & Co. [This handsome little volume con­
tains the most remarkable passages in the history of the New Testament, illustrated
with one hundred and forty engravings. It is admirably adapted for Sunday Schools
or families.]
4. — The Chairman and Speaker's G uide; or Rules for the Orderly Conduct o f Public Meetings. By T homas S m ith , E sq.; author of “ Perfect System of Elocution, &c.” New
Y ork: Wilson & Co. [Here is a comprehensive manual, indispensible for all who
expect to take part in debates, either in legislative bodies or popular assemblies, and
more especially for those who are called upon to preside over the deliberations of such
meetings.]
5. — The Physiology o f Health; being a view o f some o f the more important Functions of
the Human Body, with observations on their management; to which are added a Dietical Regimen for Dyspeptics, or comparative nutriment o f different foods and drinks. By
J onathan P ereira , M. D., F . U. S. L. S., author of “ Food and Diet.” New York:
Wilson &. Co.
6. —Dunigan's Illuminated edition o f the Holy Bible, according to Douay and Rheimish
Versions. New Y o rk : Edward Dunigan. [The present edition of the Bible, (Catho­
lic,) two numbers of which are before us, is to be continued weekly until completed, in
twenty numbers. It is in royal octavo form, handsomely printed on fine paper, and
afforded at 12£ cents a number. It has been revised by Bishop Hughes, and is by him
recommended “ to the faithful, to be read with that reverence and respect which are
due to the word of God,” &.c.
7. — The Emigrant's True Guide; comprising Advice and Instruction in every stage of
the Voyage to America, the Purchase o f Lands, and Final Settlement. New York:
J. Winchester. [This excellent little manual for emigrants contains just that kind of
information that every man in the old world, who proposes emigrating to America, re­
quires, on leaving the land of his nativity, and through every subsequent stage of his
progress, to his landing on our shores, and final settlement in our cities, or on the lands
of the national domain, in the great west.]
8. — The Cruise o f the Somers; illustrative o f the Despotism o f the Quarter-Deck, and
the unmanly conduct o f Commander Mackenzie. Third edition. W ith an Appendix.
By Hon. W illiam S turgess . New York: J. Winchester.
9. —A n Address before the Phi Beta Kappa Society o f Dartmouth College. By Hon.
L evi W oodbury. Hanover: Dartmouth Press. [The great doctrine of the progress
of man and society, is explained and illustrated in the present essay, which we have read
with deep interest, by a series of pertinent facts and arguments, that must convince every
observing mind that the race is destined to reach a far higher state of moral, intellectual,
social and material perfection, and is in fact capable of endless progression. Mr.
Woodbury has presented the clearest and most comprehensive statement of the doctrine
that has fallen under our observation, and the wide diffusion of the views advanced,
although not new, cannot fail of producing the most beneficial results.]
10. — The Prophecies o f Daniel, No. 1. Nebuchadnezzar's Dream o f the Great Image.
By G eorge B ush , Professor o f Hebrew, New York City University. New York:
Harper & Brothers. [The first number published contains 72 pages—the whole work
to be completed in ten or twelve numbers, of about the same number of pages.]
11. —Physiology fo r Children. By Mrs. J ane T aylor . New York: Saxton & Miles.
[Thirty thousand copies of this admirable little work have already been published.]