The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
H DNT’ S
MERCHANTS’ MAGAZINE.
E stab lish ed J u l y ?1839j
BY FREEMAN HUNT, EDITOR AND PROPRIETOR.
VOLUM E X X I X .
NOVEMBER,
CONTENTS
1853.
NUMBER V .
OF NO. V., V O L . X X I X .
ARTICLES.
Ar
t
.
page.
I. COMMERCE OF THE UNITED STATES.—No. n .—The Commerce o f Asia brought to
America its Civilization—Revelation of an Extinct Trade—Commerce of Peru—Mexico:
the Capital City Tenochtillan, the Country, Manufactures, Products, and Trade—the West
Indies—Influence o f Mexican Commerce and Civilization in Populating the United States
— Indian Trade within the United States— Mercantile Characteristics o f the Indians— Ag
ricultural Products o f the Indiaus, and Trade therein—The Cha^e—Fishery— Manufac
tures— Extent of Communication. By E n o c h H a l e , Jr., o f New York............................... 531
II. OF THE ESTABLISHMENT OF A LINE OF MAIL STEAMERS FROM THE WEST
ERN COAST OF THE UNITED STATES ON THE PACIFIC TO CHINA. By R. B.
F o r b e s , Esq., o f Massachusetts.. . . ........................................................................................ 540
III. TRADE AND COMMERCE OF NEW ORLEANS IN 1852-53............................................ 559
IV. TRAITS OF TRADE — LAUDABLE AND INIQUITOUS — W h a t t r a d e i s D o i n g —
W h a t it
h as
Y e t to D o.
By a Merchant o f Massachusetts............................................ 575
V. MONEY AND THE MEASURE OF VALUE. By R i c h a r d S u l l e y , Esq., o f Indiana.. 577
J O U R N A L OF M E R C A N T I L E L A W .
Insolvent Debtors Assignment of Assets............................................................................................... 582
Remitting Money in the Mail—Decision o f Chief Justice Taney...................................................... 586
Law o f Bankruptcy.................................................................................................................................. 586
COMME RCI AL CHRONI CLE AND R E V I E W :
EMBRACING A FINANCIAL AND COMMERCIAL R E V IE W OF THE UNITED STATES, ETC., ILLUSTRA
TED W IT H TABLES, ETC., AS FOLLOWS I
Pressure in the Money Market—Causes of Commercial Disaster Individual rather than General
—Depression in Prices o f Stocks and Bonds—Redemption of the Public Debt—Condition o f
the New York City Banks—Heavy Imports, and Distribution o f the Goods—Modification o f
the Tariff—General Condition of the Manufacturing Interests—Deposits and Coinage at the
Philadelphia Mint—Foreign Imports at New York for September—and from January 1st.—
Increase in the Warehousing Business—Imports of Dry Goods at New York for September,
and for Nine Months— Exports from New York to Foreign Ports for September, and from
January 1st—Shipments of Leading Articles of Domestic Produce from New York—Imports
* and Exports of Breadstuffs for a Series o f Years at Liverpool, with some Remarks upon the
Prospects of a Continued Shipment from the United States to that and other European Ports,
and a Statistical Review of the Freighting Interests, etc.......................................................... 587-592
VOL. X X IX .---- NO. V .
34
530
CON TESTS
O E N O . V ., V O L . X X I X .
J O U R N A L OF B A N K I N G ,
CURRENCY,
AND FI NANCE.
PAGE.
Loss o f Bank Bills in a series o f Years................................................................................................ 59G
Finances o f the United States for 1852-53.—State of the Treasury for Year ending the 30th of
June, 1853 ............................................................................................................................................ 597
Statement of the Condition o f the several Banks in Ohio, taken from the Returns made to the
Auditor o f State, August, 1853 ......................................................................................................... 598
Taxation in New England Cities in 1853—Lowell, Portland, Portsmouth, and Newburyport.. . . 610
System o f Taxation in Wurtemberg...................................................................................................... 510
Finances of Austria—Revenue and Expenditures from 1845 to 1853.............................................. 611
Proposed Decimal Currency o f England.............................................................................................. 611
Value of Real Estate in Brooklyn, Kings County............................................................................... 612
Currency of Buenos Ayres.—Bank o f E ngland.................................................................................. 612
City Debts for Railroads.......................................
613
COMMERCIAL
REGULATIONS.
General Customs Regulations—Nos. 8 to 12, inclusive, recently issued by the Secretary o f the
Treasury........................................................................................... .......................................... C14-622
Foreign Postage on Letters and Periodicals....................................................................................... 623
Of the importation of Platina into the United States......................................................................... 623
Act relating to the Register of Vessels in the United States............................................................. 623
Customs Act of the Sandwich Islands.................................................................................................. 624
COMMERCIAL STATISTICS.
Statistics of Trade and Commerce o f New Orleans in 1853................................................................
Produce received at New Orleans from the Interior in 1853..............................................................
Exports o f Cotton and Tobacco from New Orleans in 1852-53, &c...................................................
Sugar and Molasses Exported from New Orleans for the last Year.................................................
Shipping arrived at New Orleans tor Years 1852 and 1853................................................................
Prices o f Cotton, Sugar, and Molasses at New Orleans for the last Five Years..............................
Pork and Corn at New Orleans last Five Y ea rs..................................................................................
Exports of Flour, Pork, Bacon, Lard, Beef, Lead, Whisky, and Corn, in 1853...............................
Distribution of American Cotton Crops.................................................................................................
Lumber Trade of Wisconsin...................................................................................................................
Exports of Tea from China to the United States, last Five Years.....................................................
Exports of Grain from Denmark last Six Y e a rs ................................................................................
Virginia Tobacco Trade in 1852-53.—Commerce o f Melbourne, Australia.....................................
Inspections o f Flour at Richmond in 1853 ...........................................................................................
NAUTICAL
INTELLIGENCE.
Lights o f Arosa Bay, Coast o f Galicia, Spain........................................................................................
Fixed Light*on Sisargas Island, West Coast of Spain.........................................................................
Alhucemas Light, Coast o f Barbary......................................................................................................
Lights in the Kattegat..............................................................................................................................
RAILROAD,
CANAL,
624
624
626
626
627
627
628
629
629
629
630
630
631
631
AND S T E A M B O A T
632
633
633
633
STATISTICS.
Increase o f Railroad Traffic in 1853........................................................................................................
Passages o f Collins and Cunard Liverpool Steamships.....................................................................
British Railway Wonders o f 1852 ...........................................................................................................
Railways of Russia.
......................................................................................................................
Effects of Railroads on Agricultural Products......................................................................................
Pennsylvania Railroad in 1852-53..........................................................................................................
633
633
635
636
637
638
J O U R N A L OF M I N I N G A N D M A N U F A C T U R E S .
The Manufacture o f Otto of Roses............................. - .........................................................................
Coal Mines of the United Staies.............................................................................................................
A Spanish Cigar Factory in Valencia....................................................................................................
The Schuylkill Coal Trade.—Substitute for Gutta Percha..................................................................
STATISTICS
638
640
644
642
O F A G R I C U L T U R E , f ee.
The Tobacco Crop o f Cuba—Its Cultivation........................................................................................ 644
Profits of Wool Growing.......................................................................................................................... 645
Stock aDd Farm Produce of the Canadas.............................................................................................. 646
MERCANTILE
MISCELLANIES.
The Merchant: or Trade, in Rhyme.—The Merchant’s Clerk.................. .........................................
Smuggling by Women at Paris.—Business Men Wanted....................................................................
English Commercial Travelers................................................................................................................
Religion in Business.................................................................................................................................
Commercial Value of an Old Man in China.—The Love o f Money...................................................
646
647
648
649
650
T H E BOOK T R A D E .
Notices of 34 New Works or New Editions.................................................................................. 651-656
*
HUNT’ S
MERCHANTS’ MAGAZINE
AND
COMMERCIAL REVIEW.
N O V E M B E R ,
1853.
A r t . I . — C O M M E R C E OF T H E U N I T E D S T A T E S .
N UM BER I I.
TOE
C O M M E R C E OF A S IA B R O U G H T
TR A D E — COM M ERCE
M AN U FACTU RES,
M ERCE
AND
OF
TO
A M E R IC A
P E R U — M E X IC O :
PROD U CTS,
C IV I L I Z A T IO N
IN
AND
IT S
TH E
TRADE — TH E
P O P U L A T IN G
TH E
C IV I L I Z A T IO N — R E V E L A T I O N
C A P IT A L
W EST
C IT Y
T E N O C H T IT L A N ,
I N D I E S — IN F L U E N C E
U N IT E D
S T A T E S — IN D IA N
OF
AN
TH E
OF
TRADE
E X T IN C T
COUNTRY,
M E X IC A N
W IT H IN
COM
TH E
U N I T E D S T A T E S — M E R C A N T I L E C H A R A C T E R I S T I C S O F T H E IN D IA N S — A G R I C U L T U R A L P R O D U C T S OF
T H E IN D I A N S , A N D T R A D E T H E R E I N — T H E
CH A SE — F IS H E R Y — M A N U F A C T U R E S — E X T E N T
OF
COM
M U N IC A T IO N .
As the Indians o f all parts o f America were so eminently one people—
being o f one origin, displaying a unity so remarkable in all the elements of
character, so extremely alike in their fate: and as the peculiar features de
veloped in the United States depended so greatly on the condition o f things
in Mexico, the- parent state, it is necessary to any intelligent exhibit o f
affairs in the former, to extend the scope o f the present article to a connect
ed review o f the circumstances o f aboriginal America generally.
M a n c o C a p a c , the civilizer o f Peru, arrived in that region, as before
noted, not far from the year 1200 o f the Christian era, preceding the Colum
bian discovery by only three centuries ; so that the period for the develop
ment o f the results o f his advent up to the arrival of the European influence,
was o f about the same length as the interval between the latter event and the
opening of the present century. It was not far from the same time that the
Aztec tribe, in Mexico, became civilized; but it appears from their tradi
tions, that a civilized people called the Toltecks, had existed in Mexico for
about 600 years before that period.
W e have said that the seeds o f this first American civilization were
brought over on the wings o f Asiatic Coftimerce. The first evidence o f this
fact is the time at which the teachers o f America reached her shores. Suf
ficient attention has not been directed to this point. The period o f the ar
rival of Manco Capac and the other civilizers, inevitably connects them with
532
Commerce o f the United States.
Southeastern Asia— with China or India— which, as we have already noticed,
were then active maritime powers— expending their Commerce and adven
ture over vast regions o f sea. From this part o f Asia we would naturally
expect the civilization o f America to have been drawn, and the course o f
our investigation in the former number has made it an evident impossibility
that it should have been derived from any other portion o f the continent.
Finally, the nature o f the civilization effected— the temples, and other arch
itectural remains, the form o f religion, &c., all tend strongly to confirm these
views, fixing upon India as the source of American civilization. But let us
remark, we do not here fall into the fault we have before pointed out. These
imperfect resemblances, (stronger certainly than in any other parallel,)
though adding probability to the collective argument, we allow for them
selves alone a very secondary consideration.
It matters not what was the character o f the teachers o f America, whether
purely religious, or o f any other particular cast. The region whence they
came had long lost that propensity to wander which belongs to barbarians.
W ith a civilized people, war or Commerce alone are sufficient agencies for a
wide adventure. W ithout the transportive power o f one or the other of
them, all the influences developed within any nation would remain locked
up within its own limits. The Commerce of this part o f Asia, especially as
regards the ocean and the places beyond it, was its great engine o f adven
ture. Neither the civilization nor the religion then possessed by it, could
have reached any remote point where this more active power had not pre
ceded them and pointed out the way— nay, without its having even borne
them thither. Or if one of these, Or any other influence o f that region, had
progressed a little beyond the limit o f its general Commerce, still it had fol
lowed for nearly its whole path in the wake o f the latter, indeed under its
very sails, and without the aid and encouragement so afforded, would have
remained quietly at home. W ithout the maritime Commerce o f Asia, its
civilization and religion could never have reached America. Indeed, we
shall find everywhere, upon attentive examination, that it is to Commerce
mainly these great principles are indebted for their progress from nation to
nation, and from clime to clime. Even war, supposed to have effected so
much in this way as the great carrier of these influences, has acted mostly
as a subsidiary o f trade. It has merely opened the way— and through the
intercourse following— the peaceful intimacy o f victor and vanquished, it
has b en, that all real improvement, all the achievements o f the mild agen
cies, have been effected. It certainly is not in war, o f itself, to propagate
the opposite to its own nature and results; and for those opposites, there is
no other so efficient medium, none other to be named in comparison with
Commerce'.
Thus the Commerce o f Asia brought to America the new ideas and new
things, or a part thereof, which had been developed there since the first
emigration thence to America. It brought teachers— brought an improved
agriculture— brought manufactures, the arts, the implements and means of
a general advance. It brought a living, progressive spirit, which, if vastly
interior to the high energy breathed and exercised by the more enlightened
nations o f our day, was yet o f a mighty activity compared to the feeble sen
tience o f the barbarism upon which it fell. It awakened the savages of
Western America, inspired them with an ambition of improvement, and led
them to an elevation, which, far as it was below our present standard, was
not undeserving o f the respect even of these times.
Commerce o f the United States.
533
The establishment or extension of trade is implied in the material im
provement o f any people. It is just as much a necessity o f such advance,
as the betterment o f agriculture, or the establishment o f some degree of
manufactures; and is a necessity because o f these very things, which it must
exist to give effect to. A division o f labor is essential to progress in every
material respect, and the division o f labor must rest upon the firm basis of
trade. W hen a man ceases to make his own clothing that he may devote
his exclusive industry to the cultivation o f the soil, he must buy clothes o f
his neighbor, who, becoming an exclusive weaver or tailor, in order to sup
ply the double demand upon his labor, must obtain his bread of the culti
vator. The higher the civilization attained, the more minute must be* this
labor-division, and the more extended this division, the broader and more
varied must be this foundation o f Commerce upon which it is supported.
There was then a very great trade existing within the civilized parts o f
America, and to measure proximately the extent o f it, we need but take a
brief survey o f the results achieved by that civilization. Here we have a
standard which, though not giving us the exact proportion o f all the differlent interests o f these regions, is, as regards a ver.y fair estimate o f their re
lations, infallible. Though not a word is told us in regard to a nation’strade ; though we hear not o f a ship or a carriage, o f a merchant or a mar
ket, yet is their visible impression left in the other objects whose develop
ments, and, in a degree, whose birth, depended upon these. Through the
correlation o f interests, the seen reveal the existence o f the unseen ; and the
known arts, manufactures, agriculture, &c., o f any defunct nation, as effi
ciently disclose the state and magnitude o f its Commerce, as the perturba
tions o f the observed planets make known to the attentive astronomer the
existence, the place, the bulk o f an undiscovered member o f the system.
It has been stated by historians, and the story is gravely repeated by
geographers and encyclopedists, that among the ancient Peruvians trade
and Commerce were scarcely known, although, as in savage communities,
some barter existed. But an error very decided, and nothing more credible
for its frequent repetition, is conveyed in this assertion.
The great bulk o f
all Commerce is, indeed, .simply barter, and the whole object o f money is,
without reference to its own commercial value, to facilitate the exchange of
commodities ; but when mere barter is talked of, the idea intended and ac
tually received, is o f a very insignificant business in the way o f exchange,
each person being supposed to supply the chief part o f his own wants, which
must, o f course, be very few, and very rudely supplied. But a state like
this is totally inconsistent with what the same writers tell us again of Peru.
The Peruvians were the most civilized o f all the aboriginal population of
America— were better skilled than any in agriculture, in architecture, sculp
ture, the use and working o f the metals, and in the mechanic arts generally.
They had much the largest buildings, although not built so high as in Mex
ico and Central America. A single building, comprising the great temple
o f the sun, the palace and the fortress o f the Inca, was about a mile and a
half in circuit. They had very high and massive obelisks, mausoleums, &c.,
constructed of stone, with mason w ork; they had aqueducts, viaducts, &c.,
and most excellent roads o f vast length. The roads made in Peru after
wards by the Spaniards, with all their wealth and power, could not offer
the slightest pretension, in fact, scarcely deserved the name o f highways
when compared with these works o f the aboriginals. One o f these avenues,
the chief one, extended from Quito, at the equator, to Cuzco, the capital of
534
Commerce o f the United States.
the country, being 1,500 miles in length, or about as long as a road extend
ing in as straight a line as possible along the whole line o f coast o f the
United States, or a road from New York city directly across to New M ex
ico ; and all o f this great length, too, lay along the Andes chain, through
one o f the most difficult regions o f the earth. W here did they get the skill
to construct all these great works 2 Only through an extended division o f
labor, and the encouragement everywhere essential to such extended divis
ion and to the attainment o f such skill in the different branches— a high
compensation, which compensation implies the existence in abundance of ar
ticles o f a great exchangable value— in other words, o f accumulated prop
erty, and even necessitates the use o f money itself. Such works never were
effected, nor the skill to make them attained, among a people not advanced
beyond the state o f mere barter. W h at induced a part of those people to
devote themselves to the manufacture o f their beautiful cotton and other
fabrics, which it was certainly far from the ability o f all to make, even if
there were not any great manufactories, but the fact that they could be sold
profitably to those who could not make them for themselves 2 A nd where
was profit to be found, if the spirit o f trade had not combined and multi
plied to an infinity (in the action and reaction of trade and labor-progress)
articles to which it had affixed an exchangeable worth utterly beyond any
original intrinsic value of their own 2 They had vast accumulations o f gold
-—but what made thepi value the gold above the stones 2 Alone, all this
metal was insufficient to rear a single temple or build a mile o f road. It
was its exchangeable value only, (in which all values are included,) it was
only for what it would purchase o f other material, that gold was regarded
as worth anything. W ithout trade, gold is valueless, and the inconceivable
heaps o f treasure gathered up in Peru afford the strongest evidence o f an
enlarged and all-pervading trade.
But without Commerce, what should concentrate so large a population as
that of.Peru, living as they did, mostly in peace 2 W h at could keep them
together, what could assemble them in great towns, but the pursuits, the
hopes, the excitements, the results o f trade 2 W h at built up and sustained
the great capital city, Cuzco 2 Every one understands that in all compact
cities, the great bulk o f the population must be composed o f merchants,
mechanics, and other laboring men, who are to be fed by another great but
scattered body o f rural laborers located without, and between whom and the
city a perpetual trade, the source o f great mutual profit, is thus kept up.
W h at could have been the use o f the long and expensive road mentioned,
but to promote intercourse between even the extremes of the country 2
Finally, how could a centralism sufficiently strong to hold together under a
single government that vast region, extending over mpre than twenty de
grees o f latitude— with a coast even longer than the Atlantic coast of the
United States, and which the Spaniards found it convenient or necessary to
divide into three provinces, forming now three independent nations, each o f
them larger than old Spain, and unitedly larger than any European nation
o f the present, but Russia-— how, under so mild a government, could a cen
tralism sufficiently strong for such a purpose have been created or main
tained in the absence o f a general and familiar intercourse 2 How, but by
trade, were the people to be made acquainted with each other 2 H ow wer.e
they to be inspired with a common interest in the country, and to feel a
general inclination toward the general center ?
Perhaps the war between the rival Incas, Atahualpa, and Huasco, disturb
Commerce o f the United States.
535
ing the general quiet o f Peru, at the time when the Spaniards landed in the
country, and greatly facilitating the conquest, had temporarily suspended
the Peruvian trade. Or it may be that the State, and with it its material
interests, having passed their zenith, were at that time in the progress o f
decay. A t all events, the Spaniards were not close observers into the con
dition o f the regions they conquered in America. They were absorbed in
the pursuit o f plunder and o f g lo r y ; and beside, they were at that time
possessed o f the most erroneous notions in regard to Commerce and the
subjects directly connected with it, that ever entered int© men’s heads.
Believing money to be in itself the substance o f wealth, they conceived that
to make themselves and their country the richest o f the world, it was neces
sary only to accumulate indefinite masses o f gold and silver. Hom e in
dustry, and the great though humble trade which follows labor in equally
minute division through all its ramifications— this great source of a nation’s
prosperity, wealth, and power, unseen, almost unknown, as silent and fer
tilizing as the dews o f heaven—-this trade was neglected, positively discour
aged by Spain, in the excitement o f her gold fever. A ll the Commerce
which she desired, all that was deemed worth pursuing, was that which
reached forth in grand and remote enterprise— that which brought from
America, the Indies, or elsewhere, fleets laden with immense values. W ith
these lofty conceptions, the Spaniards could not see that a nation like Peru,
which cherished nothing but the very trade which they neglected, had any
Commerce at a ll; although possessed o f that which really constitutes the
great bulk o f the trade o f every really commercial nation, and is the founda
tion upon which the grand enterprises o f legitimate Commerce are built—
a trade, too, which every nation, whether with or without the commercial
repute derived from enlarged enterprise, must possess exactly in proportion
to the degree o f its civilization.
The only reason for the assertion that the Peruvians had only barter, is
that they were without coin. As for money, they had it certainly in quite
sufficient plenty. Gold and silver performed the same office with them as
among the nations of Europe and Asia. This is evident from the value at
tached by them to these metals, and from their choice o f them as the grand
material o f their treasures. They were selected for this purpose, o f course,
as the material which would, o f all others, most readily command an ex
change for any desirable commodity whatever, and that would best secure
any required service, whether o f the head or hands. They circulated, o f
course, by weight, and the most enlightened nations have invented nothing
better to this day, for the stamp upon all gold and silver money now in
use, or ever used, is but a certificate to its weight. It is a mere facility
o f circulation, not adding the slightest value to the intrinsic worth o f the
piece.
The population o f the rest o f South America was in that condition gene
rally which is understood as the characteristic o f Indian society, and it is
therefore unnecessary to give any particular description o f their state. Some
o f them understood the value o f gold and silver, and they were generally
possessed of some degree o f skill in the humbler kinds o f manufacture.
Trade, in a varying extent, but never very considerable, was carried on in
different parts, though the general propensity, as in North America, was to
war and roving adventure. Below the designated belt of eastern progress,
embracing the whole of the temperate region, and a part even o f the tropi
536
Commerce o f the United States.
cal, the fact we have before noticed o f the decreasing numbers and social
elevation o f the lateral wave o f emigration, held strictly good.
Coining to the northern section o f the continent, its lower extreme, from
near the isthmus up to the Gulf o f California, was inhabited by nations fit
to compare with the Peruvians. In Central America, the evidences o f great
and magnificent cities still remain. Stevens found in that region the re
mains o f edifices o f vast proportions, adorned with a superb statuary, and
covered inwardly with designs executed in stucco-work. H e even gives
some credit to the idea that there is to this day existing not far remote from
these ruins, a vast city with towers, and domes, and minarets, multitudes o f
human habitations, and peopled by the remains o f the unfortunate race who
constructed those great fabrics so wonderful even in their decay.
In regard to Mexico, we are told, as o f Peru, that it had no other trade
but barter; but by whatever name it be called, we shall easily see some
thing o f its extent and importance. The capital city, Mexico, with its sub
urbs, was occupied by hundreds o f thousands of people. It was situated on
islands, in the midst o f a lake, and was connected with the shores by three
long causeways, made up o f firm piers fixed in the lake, with bridges at in
tervals, to admit the flow o f the lake and the passage o f boats. The city
was supplied with water by aqueducts. It was compactly built, like the
great cities o f that country now, and laid out with streets and squares in
regular order. The houses were large and high, and the temples, palaces,
&c., massive and imposing. They were provided with courts, and decorat
ed handsomely with works o f art. In one o f these edifices, Cortez and his
whole army, including 6,000 Indian allies, were comfortably quartered on
their first entrance to the c it y ; and when the population afterward became
hostile, it was strong enough to resist all the attacks o f the furious masses
that incessantly assailed it, and who but for its protection, would have an
nihilated the invaders.
The city was surrounded with firmly cemented walls o f stone, forming a
strong defense even against European arms. Its aspect to the spectator ap
proaching from either side, with its numberless towers, domes, and spires
glittering in the sun, was magnificent. This city embodied the concentrated
achievements of the Red civilization o f America, and was, indeed, a metrop
olis worthy o f the continent. The Spaniards when t h e / first saw it, looked
upon it in wonder, for they had not dreamed that America contained such
a work. In point o f greatness, very few cities o f Europe certainly, could at
that time compare with it.
In such a city there was certainly an immense body o f artisans and mer
chants. In regard to manufactures, they wove fine cotton cloth, like the
Peruvians, o f which their garments were made, while as yet, cotton, as an
article o f dress, was almost unknown in Europe. H ot only in the capital,
but in the distant provinces, the people were clad in this material. They
worked gold and silver with such curious workmanship as delighted the
Spaniards, who sent many o f their articles home as curiosities worth preser
vation. They had also an infinity o f manufactures in other metals, and in
a variety o f materials else. Multitudes o f rural laborers were required in
the country around the city, to produce food for the urban population, and
to cultivate the cotton plant and other raw articles for their manufacture.
These built up towns all round the borders o f the lake. To facilitate the
communication o f the city with its rural districts was, no doubt, one prime
motive for the causeways over the lake. So well, too, was the city provid
Commerce o f the United States.
53 1
ed, that after all the previous duration o f the war, it stood a siege of seventyfive days, by a force o f 500 Spaniards, and above 150,000 Indians, of the
rebel population o f its own provinces ; these stores had been hurriedly laid
in by Guatamozin, and during all this time were fed out to a vast multitude
not residing in the capital, beside its own population, who had flocked there
to assist in the defense. [These are the people whom some o f our theorists
suppose the Indians o f the United States to have driven out a little before,
from that region !]
The principal communication between the city and the numerous towns
and villages on the banks o f the lakes, was conducted by canoes, and the
multitude o f these was so great, that on being employed against Cortez,
they are spoken o f as completely covering the lake, with their dense swarm.
But their naval ability was not limited to light boats. Finding their canoes
inefficient against the brigantines which Cortez employed on the lake, they
constructed large piraguas o f very thick planks, and capable o f carrying a
great number o f men, with which they nearly succeeded in destroying some
o f the brigantines.
The trade o f the city o f Mexico was conducted, as in our cities, through
established markets, and the business o f the dealers was regulated by law.
Cortez, in a letter to Charles V ., in 1520, says that the market-place o f the
city was twice as large as that o f Seville, in Spain, being “ surrounded with
an immense portico, under which are exposed for sale all sorts o f merchan
dise, eatables, ornaments made o f gold, silver, lead, pewter, precious stones,
bones, shells, and feathers ; delft-ware, leather, and spun-cotton. W e find
hewn stones, tiles, and timber fit for building. There are lanes for game,
others for roots and garden-fruits; The market abounds with so many
things that I am utterly unable to name them all to your highness. To
avoid confusion every kind o f merchandise is sold in a separate lane.”
Maize was the principal agricultural product, (no other grain being
known,) but this did not limit the abundance o f other things. Cortez
states that there was every kind o f garden-stuff, particularly onions, leeks,
garlic, garden and water cresses, borrage, sorrel, and artichokes. There
were great numbers also o f farinaceous roots. O f fruits, there was abun
dance o f cherries, prunes, peaches, apricots, figs, grapes, melons, apples, and
pears. So that there was as great a variety o f agricultural labor, and as
much temptation to the city purchaser as need be desired.
There was, as a part o f the regular administration o f the government, a
commercial tribunal, the judges o f which wrere constantly in session in the
midst o f the great square, to arbitrate all disputes in relation to matters of
trade. There were officers, also, to see that just prices were asked, and
proper measures used. A ll sales being made by measure.
But this great capital, with all o f its rural dependency, was not all o f
Mexico.
On their march from the coast, the Spaniards were delighted
with the view, through the whole way, o f towns and villages, miniatures o f
the capital, with their towers and pyramids, and busy population, surround
ed with broad fields, under full cultivation. In one o f these towns, Zoeatlan, Cortez found thirteen temples. In short, the nation presented the
same arrangement o f city, town, and country, which characterizes the civil
ized nations o f our day.
•
It is entirely to the point, as illustrating the advanced state o f Mexico, to
notice the government o f the country. It was originally an oligarchy, after
ward a monarchy, assisted by councils o f war, o f state, and revenue— a court
538
Commerce o f the United States.
o f justice, and judges o f Commerce and o f supplies. There was also a
police system. There were no written laws, but traditional ordinances sup
plied their place. There, were public schools for general education, and col
leges for the children o f the nobility, who, on being educated, selected either
the army, the civil service, or the priesthood, the three leading professions.
The habits o f the Mexican people were barbarous in nothing but their re
ligion. They knew o f the lesser and greater cycles o f time, and intercallative periods; and had a far more accurate system than either the Greeks,
Romans, or Egyptians. They had a system o f writing, and constructed
tolerably accurate maps.
The trade o f the capital was no doubt extended to the provinces, and
helped to centralize the great system, which must else have dropped apart.
To facilitate this intercourse there were roads and canals, as in Peru.
The population o f this country must have numbered some millions, far
exceeding, certainly, all of North America beyond it. There were many
large towns beside Mexico. Cortez describes Cholula as larger than any
city in Spain. Am id the dreadful slaughter and continued repulses o f his
people, made by the superior weapons o f the Spaniards, Guatamozin per
sisted, in the hope o f victory from the sheer force o f numbers. He con
veyed this hope to Cortez, declaring that if the death o f each Spaniard
should cost him 20,000 lives, he would still have a multitude o f subjects
left to celebrate the final victory. This, o f course, was a mere hyperbole,
but the confidence o f the monarch was not groundless.
As to the riches o f Mexico,— the wealth then in possession and full enjoy
ment by the Mexicans— it equaled all which the Spaniards represented.
But large as were the treasures o f the king, all the gold and silver found,
did neither here nor in Peru, fall into the hands o f the government. A
great part was circulated about, and afforded an active stimulus to industry,
to agriculture, to manufactures, and to the arts. It was in the hands o f the
people, as.is evident from the fact that the governor o f Cuba, D on Velas
quez, was instigated to the invasion o f Mexico, from a voyage made the
year before to the coast of Yucatan, in which so much treasure was obtain
ed from a promiscuous traffic with the natives of that outer province, as to
enrich Velasquez and fire his avarice. W h en Cortez retreated from the
capital he was unable to carry away all the gold which he had there col
lected, chiefly from presents made to him by the king, imitated by the
people o f the different provinces. H e left behind, it is said, the value of
700,000 pieces o f eight. The 200 men lost in the retreat through the
streets, and.over the causeway, were mostly o f those who were bringing
away the gold, and were obliged from the weight o f the burden to lag be
hind.
As to outward Commerce, these nations certainly had none at the time o f
the European discovery, neither could any have existed for a long time pre
vious. Indeed, had any considerable outer Commerce been at any time car
ried on after their improvement, they could not but have had a better knowl
edge o f other places. As regards trade with Asia, it must have been confined
to a few, and very infrequent visitations from that quarter. The actual ne
cessity o f such adventures, at some time, we have already show n; but these
were only the extreme efforts, when designedly made, of Oriental explora
tion, and could never have risen to the extent o f a regular communication.
N o colonization o f America could have been made from Asia, at any time
after the commencement o f the civilized nations on the eastern and southern
l
Commerce o f the United States.
539
shores o f the latter; and Manco Capoc, and the other teachers o f America,
were certainly, as the Indian accounts represent them, single adventurers.
Had it been otherwise, the people improved by them must have attained
the knowledge and use o f iron, so well understood in the region o f Asia
alluded to, and in most other parts o f that continent, from immemorial
periods. The ignorance o f single individuals in regard even to arts well
understood in their own countries, is sufficient reason for the failure to trans
fer them to other regions.
The failure o f Asia, while yet knowing America, to establish any regular
intercourse with this continent, or, if established, the short-lived term o f its
support, is easily accounted for. The difficulty and hazard o f the long voy
age— the lack o f temptation in the way o f profit, (America being able to
supply most o f her own wants, and the precious metals, the articles which
would be o f chief value for export from America, being comparatively cheap
in those parts o f Asia)— political troubles— the decline of Asiatic Commerce
— the adoption o f an exclusive system in America, which we know did pre
vail in China— any o f these were sufficient causes to prevent a regular C om
merce between Asia and Western America, or, if any ever existed, to sus
pend it, as in the case o f the intercourse at the other side o f the continent,
between Greenland and Norway.
In regard to trade between these nations o f America, it does not seem to
have been ever at all cultivated. One efficient reason might be found in
the difficulties o f the coast navigation. After the Spaniards occupied these
countries, they found correspondence very hazardous and uncertain. In the
voyage from Acapulco, in Mexico, to the Peruvian ports, their vessels were
often longer occupied than in that from Acapulco to Cadiz itself. But,
apart from this, these nations were o f a character more apt to indulge mis
trust and jealousy than confidence in and regard for other people. N o
aboriginal people o f America, in fact, ever rose to a conception o f the uses
o f a remote outward Commerce, and no cause existed to. induce any o f
them to undertake an extended navigation of the great seas. The more
civilized portion, although not without the ambition o f outward expansion,
as is seen in the progressive enlargement o f their territorial limits and
population, from the condition o f a single tribe up to that o f centralized
nationalities, composed o f agglomerated tribes, yet directed all their pro
ductive and improving efforts to internal objects. In the barbarous regions
o f America, intercourse, for purposes o f mutual defense mainly, was carried
on between distinct and often remote tribes; the civilized portion, being com
posed o f nations o f real magnitude, and not warring upon each other col
lectively, had no occasion for such alliance.
Such were the nations which comprised the civilized, or half-civilized
portion, as we may choose to call it, of aboriginal America.
The W est India Islands, in the latitude o f Mexico and Central America, be
tween 10° N . and the Tropic o f Cancer, formed the limit o f the great popula
tion wave which rolled eastwardly, across those countries, from the Pacific. The
state o f their population at the time o f the European discovery, as compared
to the United States and other parts, affords the most positive evidence of
the correctness o f our idea respecting the confinement o f the general pro
gress in America, as in Asia, to a narrow belt within the central regions o f
the continent. The island o f Cuba, alone, had a population o f above
1,000,000 Indians, Hayti had 600,000, and the population o f the whole o f
the W est Indies must have far exceeded that o f the region o f the United
540
Commerce o f the United States.
States. W ithin the belt described, must have been comprised about ninetenths o f the whole number o f people residing upon the continent and its
islands. The’ Indians o f the W est Indies were milder and something less
rude than those o f the United States, yet could be called in no sense civil
ized. Their intercourse with the continent must have been slight, although
they knew o f its existence, and of the rich and powerful nations which
dwelt upon it. In Ouba and some other o f these islands, the people were
o f an exceedingly peaceful disposition, being averse entirely to war, in even
its mildest features. Am ong a people so disposed, and so very numerous
as they were in Cuba, there must have been a considerable internal trade,
at least, in order to furnish support to the whole population, and to give
them that means o f employing themselves which no community o f human
beings, and especially no thick population, like that o f Cuba, could do en
tirely without. Cotton was in use among them, as in Mexico. The Caribs
built large boats, and were exceedingly expert navigators.
W e come now to the United States. The first population o f any part o f
what is now comprehended within this great country, must have proceeded
from the extension o f the original barbarous people, along the coasts from
Mexico into California, and finally into Oregon. Some coastwise corre
spondence may have existed between these places and Mexico, and they
may even have been visited, as has been suggested, by the Commerce of
Asia. It is supposed by some that the mines o f California were anciently
worked, and that the ships o f Asia came there regularly for gold. W e at
tach little credit to that opinion. Still California and Oregon, both, may
have been visited on their own account, and if the supposed coast trade be
tween Asia, and Mexico, and Pfcru, existed, the vessels engaged therein, in
passing Oregon and California must have certainly often put into their har
bors.
The next point at which the territory o f the United States was reached
was, no doubt, on the G ulf shore, at about the same time the Indians pro
ceeded from the eastern shore o f Mexico, or Yucatan, to the W est India
Islands. Some few o f their canoes coasted along the Gulf, and all the
shore region was, doubtless, soon peopled. From Cuba, too, at a later pe
riod, there must have been a flow o f emigration upon Florida, to which it
so nearly adjoins. Between all these points, anciently, there is evidence
sufficient that some communication was kept up.
The progress o f population through the heart o f the great land-way con
necting ancient Mexico with the United States, must have been slow. But
notwithstanding the unfavorable character o f a portion o f this region for
the support, within itself, o f population, it must still have served, as well as
the coasts on either side, as a channel to the lateral wave which sought
the north.
The civilization o f Mexico and the other southern regions, whether or not
accompanied by an immigration from Asia, o f course, greatly stimulated the
increase o f population. A civilized people always multiply with far greater
rapidity than a barbarous community— at least, such is the tendency o f an
improved condition, enlarged activity, and an elevated ambition. Those
regions becoming, at length, as the consequence o f their civilization, densely
peopled, and the great wave having flown to its utmost extent in the direct
easterly course, an enlarged stream began to pour from Mexico into the
United States. O f the exact bulk o f this stream, at any time, we do not
propose to inquire. Suffice it to say, that the size must have corresponded
Commerce o f the United States.
541
with its character as a secondary impulse, and that we do not, therefore,
give credit to the idea entertained by some, that the Mississippi valley, and
perhaps the rest o f the United States, at some time previous to the Euro
pean discovery, contained an immense population, forming one or more
great nations, possessed o f splendid cities, and carrying on an extended
Commerce. The Indian population o f America must have been always far
beneath that o f Mexico in point both o f numbers and improvement, and we
see not a particle o f reason to believe that the valley of the Mississippi had
ever greater numbers, or a better condition, than when the adventurous A l
varo and D e Soto made the first explorations ever effected within it by
white men.
The centralizing influence o f the Mexican civilization had no doubt ex
panded to quite its utmost capacity in the territorial and populative limits
occupied by that kingdom at the time o f its conquest. Being entirely
without that capability o f indefinite healthy extension, which is a character
istic only o f modern civilization in its best development, there was no pos
sibility that it should comprehend a whole continent, or any very extensive
segment o f one, within its embrace. Neither the means nor the desire o f
continued communication between Mexico and the nations or tribes formed
o f emigrants from her own people, existing, the latter, of course, as in the
case o f all remote colonies cut off from communication with the parent or
other civilized nation, fell into the depths o f barbarism.
The several deficiencies which occasioned this limitation in the energy of
Mexican civilization we need not particularize, but no one among them
could be more effective than the fatal want o f Iron. W ithout the instru
mentality o f that grand physical agent o f human progress, it is wonderful
how so much was accomplished— how an influence, strong and extended to
the degree of that under consideration, was evolved and preserved intact.
O f course, even in the region which it covered, it was entirely wanting in
the vigor of our system, compared to the solar heat o f which, radiating to
every part o f its great field, it disseminated nothing more than a cold
moonshine, useful to the extent o f its illumination, but feeble as a germina
ting principle. This civilization could sustain itself only in the most favored
regions o f America, corresponding more nearly than any other portion o f
the continent to that part o f Asia in which the first human enlightenment
began, and not possessed o f sufficient vitality, indeed, to diffuse itself over
the whole even of those regions. It grew visibly dim with every step o f
progress from the center, and expired long before it had reached the cool
latitudes. Had no stronger influence approached the continent, what is
now the United States must forever have been a wilderness of barbarity.
In all the extent o f America northward from the heart o f the Mexican
kingdom, the condition o f the population was graduated by the distance
from that center. Following the line o f migration, the Indians of the north
ern part o f Mexico formed a connecting link between those of the capital
and the red occupants o f the southern limits o f the United States. The
latter, in Louisiana, Alabama, Georgia, and Florida, were, again, decidedly
in advance o f Carolina and Virginia. They were much more numerous,
living in larger and much more respectable towns. Some o f these were
walled about with strong palisades, and were places o f some pretension.
The people o f Mauvila, on the site o f the present city o f Mobile, without
other help, fought D e Soto’s whole force o f over 500 men, in a desperate
battle o f several hours’ length, and had nearly effected their destruction.
542
Commerce o f the United States.
A ll the tribes o f Virginia or New England, combined, though equally war
like, would have been unable, at that time, to withstand D e Soto’s force for
a half hour. The Indians o f this region built very large houses, some of
them capable o f holding several hundred people; they had more general
skill in fabrication than those o f the north, and were far more proficient in
agriculture. In short, they were a much superior people in all respects to
the northern Indians. A ll this was still visible at the time the Europeans
commenced their explorations and settlements within the United States.
These people had knowledge o f Mexico, as they told Alvaro, one o f the com
panions o f the ill-fated Narvaez, the rival o f Cortez, o f that country, and di
rected him how to reach it. Here, then, on the southern shores o f the
United States, we discover a feeble ray o f Mexican civilization.
Even in Virginia the shade o f barbarism was a little less deep than in
New England. The Indians o f Virginia and Carolina were in several re
spects above those o f Massachusetts. A m ong other things, they paid more
attention to agriculture, and, o f course, relied less upon the chase and fish
eries. Colonies o f whites, o f considerable numbers, were maintained for
considerable periods, while engaged in gold hunting or lying idle, by pro
duce purchased o f the Indians. In the other place, the dependence was
rather on the side o f the Indians.
In regard to the results o f the Indian population o f the United States, as
compared to those o f European population, the former,' it is true, seems to
have achieved nothing— to have been a mere incumbrance upon the soil.
The Indians built up here no connected empire— elaborated no civilization
— established no trade worthy o f a name. Moving along the banks o f the
same rivers traced by the tide o f white emigration, they launched no steam
boats upon their waters, and raised never the white sail o f traffic. They
never applied their sinews to gather in the vast riches o f the great western
valleys, to send them down the Mississippi, or along the channel of the
Lakes and St. Lawrence to the ocean. They did not tunnel the mountains
to give passage to the steam-engine;— they built no towns, erected no
bridges, set up no mills upon the many water-falls which offered their
power to the service o f man without regard. Nature reigned supreme,
without invasion, without even the pruning o f her wild luxuriance. On the
spots now occupied by the great marts o f trade, the “ rank thistle nodded in
the wind, and the wild fox dug his hole unscared.” W a r was their leading
em ploym ent; yet, even in the pursuit which, next to Commerce, has made
navigation its great ally, their genius never extended beyond a few fragile
canoes, darting along in the deep shade o f the overhanging forests that ob
scured the pathway o f the rivers.
Y et there are a few facts regarding the trade o f the Indian population of
the United States, worth referring to.
It is only in the very lowest possible condition o f human existence, that
men can be said to live entirely without trade. In such a state there must
be scarcely the appearance o f regulated society, and a total want o f the
qualities of energy or activity. There can be no ambition, no desire, except
for the satisfaction o f immediate physical wants, no intelligence, no develop
ment of general feature other than a uniform stupidity and brutishness.
Just in proportion with the advance o f a people above this condition, must
the process o f exchange prevail. Now, the Indians o f the United States
were quite far removed from this condition. Am ong those who must beclassed as entirely without the pale o f civilization, they held a quite respecta
Commerce o f the United States.
543
ble position. Something more than a glimmer o f a former civilization could
be discovered in their state. The obscured and fragmentary remains o f an
elevated life were so plentiful, as to afford ground to most writers for deri
ving them directly from an enlightened people. They were formed into
regularly organized communities, with permanent forms o f government, com
bining a rudimentary expression of the executive, legislative, and judicial
principles— they had laws, unwritten, but well published, and supreme in
their operation, being everywhere, without personal respect, completely as
cendant over the individual. There were regulations— wiser, too, than any
civilized legislator could have framed for a people in their condition— for all
departments o f the social system, as well embracing its many wants and
exigencies as any o f the voluminous codes which seek to anticipate all the
minutiae o f unexpired circumstance. There were customs, forms, and ob
servances, o f a spirit and for an object far above the range o f either savage
invention, or o f mere savage comprehension. They had a lofty ambition,
and a most exalted though peculiar form o f chivalry. They had an elevated
oratory, and were naturally, o f an ardent poetic temperament. Adair, in
comparing the Indian form o f society to that o f the Hebrews, found material
for a respectably sized 1vork, containing under twenty-three general heads,
the likenesses exhibited in their management o f civil affairs, their religious
institutions, their punishments o f crime, marriage and other ceremonies, to
a highly enlightened community. N or have a multitude o f other writers on
the same topic failed to gather material for volumes o f goodly dimension.
The Indians were, naturally, a people of most apt qualities for Commerce,
instead o f being as is generally assumed, disqualified by nature to acquire
any feature o f European civilization; and indeed, under a proper policy,
could have been not merely transformed into a mercantile community, but
easily raised to a near level with their exterminators.* They were possessed
o f great activity— were ardent, enthusiastic, keen, were really o f much the
same restless, anxious, adventurous turn which characterizes the present
people o f New England. They were, in short, possessed o f that very tem
perament which inclines a people to trade, and which all commercial nations
have exhibited in a varying but always high degree. They were familiar
with the geography o f the country, traveling rapidly for objects o f peace as
well as war, over vast extents of territory. They were lovers of the water
far beyond the whites ; were exceedingly skillful in the management o f their
frail canoes, ar.d provided with good vessels, and taught in nautical science,
would have made daring and successful navigators. In spite o f their habits
and their poverty, they had a strong idea of property— an eager desire to
possess and to accumulate— and showing always a high appreciation of that
superior skill, which in manufactured articles constitutes so large a portion
o f their merchantable value.
The natural desire o f the Indians for trade was everywhere exhibited upon
their first contact with Europeans. Almost invariably we find the first in
tercourse between them is in the shape o f barter. Columbus, Cabot, Verrezano, De Ayllon, Cartier, Smith, Gosnold, Barlow— all the early explo
rers— found.them eager for traffic. They seemed, indeed, to have a perfect
* It is time, as the present writer has before remarked, in the Merchants’ Magazines (Art. “ Our
Empire on the Pacific,” Sept. 1852,) that we were done talking o f the incapacity o f men for improve
ment. No one will put the lowest order o f men beneath the highest class o f animals—yet there is
scarcely an animal not susceptible of learning. There was never greater absurdity uttered than the
philosophical dissertations about the ineradical vices of blood, the resistless proclivity to debase
ment and extinction, &c., &c.
544
Commerce o f the United States.
passion for trade, that increased continually with its exercise. It was the
report as much o f this Commerce, as o f the wonderful character o f the ad
venturers, which drew vast numbers from the back regions to meet them at
the coast. They came as the Yankees would g o now to see any people as
extraordinary to them, arriving in the United States, as much to speculate
as to admire. None o f them came empty-handed. Everywhere, before this
spirit o f Commerce, wherever Europeans appeared, and conducted them
selves in a spirit at all friendly, the ferocity o f the rudest o f the Indians re
tired. This should have taught the colonists, and the mother-governments,
what policy to use toward the Indians— how to maintain peace— how to
civilize— how to make them efficient, and always profitable friends. There
is no reason why the favorable impression at first made upon the Indians
might not have been continued and indefinitely extended, instead of giving
way to undying hate and horrible wars o f extermination. The first expedi
tion sent out to America by Sir Walter Raleigh found the Indians “ most
gentle loving and faithfull, voide o f all guile and treason, and such as live
after the manner o f the golden age.” How was it possible for these to be
come so quickly monsters o f crime and perfidy, fit only to be rooted from
the earth.
Nor is the view we have taken refuted by the fact o f their wars upon each
other. W ar was after all, more a necessity than actual propensity with the
Indians. Few have taken pains to reflect how much national deeds— the
permanent courses o f action followed by great communities o f men, are the
result o f actual necessity— o f a constraint which it is impossible for them to
elude. Under the state of Indian society only a very sparse population
could inhabit the most favored territory. The riches o f nature were vainly
lavished before those who knew not how to make use o f them. Their re
course to war was from an instinct which warned them of the necessity of
restricting the multiplication o f their numbers, which, in the natural course,
would in a short period become too large for their means o f subsistence, and
for the maintenance of their system o f society. The greater part of the soil
was required for hunting-grounds, and it would ill answer for these grounds
to be filled up with hunters as numerous as the herds they pursued. It was
therefore essential, while killing the animals, that the hunters should also
hunt down each other, in order to save the common source o f their subsis
tence from entire destruction.
It is a mistaken idea, however, that the Indians were always at war, and
had no other desire. W ar is never the normal condition of man ; it is the
exception to his ordinary state. The idea o f war signifies an unnatural ex
citement o f human energies— a spasmodic exertion— which can be but tem
porary. In perpetual war, men would soon sink o f sheer exhaustion, would
be utterly exterminated, or would perish o f famine. The Indians, in reality,
were scarcely if at all more bellicose than the people o f Europe ; nay, they
were far more disposed to just dealings with each other, than the rulers o f
Europe ever were. I f they had more wars, they had a hundred times as
many tribes, that is, in the diplomatic language, “ powers,” with naturally
discordant relations, whose jarring nationalities were all to be perpetually
vindicated, and whose conflicting interests were to be conserved. Their
enmities were indeed lasting, but actual contest never so. The war-spasm
had a duration short in proportion to the fury o f its outburst; and when
they felt the reaction, the wearied tribes gladly made peace, and sought rest
in a long monotony o f quiet pursuits. Another mistake is to suppose the
Commerce o f the United States.
545
whole continent engaged in war at once. W h ile conflict raged over one
portion, other parts were in the enjoyment o f profound peace. Again, there
were some tribes whose disposition was entirely pacific. The entire south
ern portion o f the aboriginal United States, although sufficiently warlike,
was yet much less ferocious than the northern part. In both sections there
were tribes, living contiguous, and yet from time immemorial having an un
broken friendship.
It is perfectly evident that throughout much the larger portion o f the
time, the Indian tribes existed in a state o f peace. During these periods o f
quiet, intercourse, always accompanied with exchanges, was one means o f
varying their pursuits, and of preserving the peace between different tribes.
W ithout this exchange, indeed, treaties could not have been made, nor
without its frequent repetition, would they have been considered maintained.
Those who offered their good-will empty-handed would have been despised.
Often in these times, were their canoes, singly, or even in small fleets, to be
seen wending their way along the rivers, or following the deviations o f the
coast, bearing to some appointed rendezvous, cargoes o f not valueless com
modities. The victor tribes, in war also, exacted tributes from those whom
they had fully subjugated, when not exterminated, in the manner of all
other warring communities, and these tributes must have been composed o f
animals taken in the chase, or their skins, and o f the products o f the soil—
chiefly or altogether in maize.
To exhibit, yet farther, the general condition o f the Indians, and the
means they possessed for trade, we will give a brief view, here, o f the prod
ucts o f their agriculture and manufactures, not too much dignifying their
labor and its results by those terms. Indian corn, or Maize— first known to
Europeans on their seeing it here—-was the chief product o f their cultiva
tion, and the principal vegetable article o f food, being readily grown in all
parts o f the United States. The quanity of this article raised throughout
the country, was certainly far greater than those have an idea o f who con
sider the Indians in the character alone of warriors and hunters. Some
tribes were, in fact, almost entirely devoted to agriculture, and throughout
the whole South a far greater attention was paid to the soil than at the
North. As in later times, in the intercourse with the whites, and also be
tween tribe and tribe, they effected ransoms, made purchases o f grounds,
confirmed treaties, and made various exchanges for the sake of the trade
alone, with this commodity. The total production, within the United States,
at about the time o f the discovery, at the lowest estimate, must have
amounted to several millions of bushels annually, the distribution to differ
ent parts within the same section being very unequal, and thus a necessity
for trade created. In some parts a large surplus o f the grain was produced,
and as the whites on first visiting some of-those places, found it laid up in
large stores, and ready for sale, it is evident that the trade in corn was with
them to a very considerable extent a regular business. A t Aute, a town in
the northern part o f Florida, Narvaez bought supplies o f grain, ready accu
mulated in store, sufficient to subsist his then famishing army o f over two
hundred men for fifty-one days, while they were constructing boats to leave
the country, and on embarking he took provisions enough to last thirty days
more, being as much, probably, as his small crowded barks could carry. De
Soto, in his explorations o f over four years’ length, extenaing over five
thousand miles, through the whole range o f the Southern States, and as far
up as the State of Missouri, obtained all his supplies during that time,- for a
35
VOL. XXIX.---- NO. v.
546
Commerce o f the United States.
force o f originally six hundred, others say nine hundred men, from the In
dians, except the stock, quickly exhausted, brought with them from Cuba.
Later, the colonies in Florida, in Virginia, and in North Carolina, while
engaged in the exclusive search for gold, or lying inactive, derived all
their supplies from the trade with the Indians; and the required amount o f
this cereal, and o f other articles, was by no means inconsiderable. In other
parts, much was contributed to the support o f the colonies by the Indians,
and but for this aid indeed, some o f them would have inevitably starved
out, in a very short time. The Indians were often compelled to pay the
whites large quantities o f corn as the purchase o f peace, or as indemnity for
losses in war, or other real or pretended offenses. Captain John Smith ex
acted frequently from single tribes, in Virginia, a tribute o f large boatloads o f
maize, which was o f great service to the colony he generally so ably served.
The readiness with which all these contributions and purchases were in
these different places obtained, from the first, shows that they had been ac
customed to the production o f a surplus, which could be designed only for
trade with other tribes. W e do not hear that the purchases or exactions
from them ever left them in destitution.
The species o f Bean called the kidney, was cultivated generally in New
England and New Y o r k ; and both beans and peas o f different kinds in
Virginia. Am ong those was the celebrated Indian or cow pea, which is
now extensively cultivated at the South, mainly for the feeding o f stock.
Squashes were cultivated in both sections. A t the South, fruits o f different
kinds were raised in great quantities ; the principal one among them was
called tune, the gathering o f which was followed by a great festival. So
that harvest, in that region, was neither an inconsiderable nor unnoticed
event. A harvest feast does not at all comport with the idea o f a neglect of
agriculture. Sassafras was so plenty in New England, that the early Eng
lish voyagers obtained whole cargoes o f it, and voyages were made from
England expressly for that article. Different roots, herbs, and drugs, of
various kinds, were collected in all parts o f the country. Vines grew in
abundance, in different parts, and in some places, as in Carolina, the Indians
even made and indulged in the common use o f wine.
O f Sugar-cane, we are told by Humboldt, and by most other writers, de
ferring to his authority, that it was known in no part o f America until intro
duced by Europeans. The superintendent of the Seventh Census (p. 79 o f
the “ Abstract,” lately published) repeats the assertion, and attributes its
introduction into Florida, Louisiana, Texas, and California, to the Spaniards
and French, at the time o f their earliest settlement. But against these au
thorities, we have the explicit testimony of Alvaro, the historian o f the Nar
vaez expedition, that it was cultivated by the Indians in the western and
northern parts o f Florida, and was traded to the Spaniards; this being in
1528, more than half a century before any white settlements were made in
that region, and these being the first Europeans who had penetrated to that
part. It was thirty-seven years before San Augustine was founded, on the
Eastern side o f Florida. The Potato was indigenous to Mexico, Columbia,
Peru, Chili, the La Plata region, and other parts o f the continent, but does
not seem to have been at all known in the United States.
Tobacco was in very general and plentiful use among the Indians o f the
United States. A t the Hudson river, and other parts o f the north, they
were found to possess it in quantities sufficient for trade. Y et it did not
Commerce o f the United States.
547
grow in all parts,' and must have been obtained by many, only through
trade, and that sometimes quite remote.
Even Cotton was not unknown to the Indians o f the South, although it is
not certain that it was grown by them. But if not, the fact that Narvaez
found the Indians o f Florida in possession o f some very rich cotton cloths, is
proof positive o f a connection and Commerce between the southern part o f
the United States and Mexico, or the W est Indies. Mexico was, most
likely, the real source whence the cloths were derived, the probability o f
which seems much increased from the fact o f their being worked with orna
ments o f gold. Cotton was however found growing in Texas and Califor
nia in 1536.
In regard to the chase, hunting was a very general pursuit, and a passion
with the Indians. The meat o f the deer, hares, rabbits, foxes, and other
animals, was thus plentifully obtained at the East, and o f the bison, &c., at
the W est. Skins and furs constituted the principal articles of clothing used,
throughout the country; the latter were used for blankets and other pur
poses, and the former for tents, canoes, &c. Next to maize, therefore, furs and
skins were the most common and valuable commodity possessed by the In
dians, and were a great staple o f all their trade. A t all points, wherever
the Europeans first visited, from Maine to Florida, the Indians met them
provided with skins and furs for traffic, and seeming perfectly conscious of
their superior value to any other articles they could offer. Although the
Europeans everywhere eagerly encouraged the trade, and confined their de
mand soon entirely to those articles, still it does not appear that the ability
o f the Indians to answer any enlargement o f the demand was otherwise af
fected than by the coterminous destruction of wilds, animals, and Indians.
The state o f their supply and readiness o f trade, at the outset, is proof o f
their own previous internal trade in those articles. Plentiful as were the
animals, they were yet, according to the other bounties o f nature very un
equally distributed, and trade alone could remedy a disparity so essential o f
correction. The horns, bones, and sinews, had all a trade value for their
use in manufactures.
W ild-fowl— turkies, pigeons, partridges, &c., and the whole class o f sea
birds that now frequent our coasts, were then extremely abundant in nearly
all parts. These, as well as the animals, were the objects o f the successful
field-sport. Tnese, in plentiful proportion, were among the food purchased
o f the Indians by the gold-seeking and other colonies.
The Fishery was pursued, as a leading means o f sustenance, throughout
the whole country, in the Gulf o f Mexico and the rivers o f the South, as
well in the rivers, bays, and lakes o f the North and W est, and along the
whole sea-coast. As fish were more plentiful in some regions than in others,
here is another article o f trade. Fish contributed very materially, also, to
the supplies furnished the whites, in different parts. In some places the In
dians constructed wears, which they sometimes destroyed in war, in order to
deprive the enemy o f any chance to take advantage o f them. A n attempt
was made in Carolina to starve out the first English Colony in this way.
From the sea, also, the Indians derived various marine productions, much
valued as ornaments. Beads and other things were made o f these, and of
different shells, which the tribes occupying inland positions could obtain
only by trade with those on the coast.
In point even of Manufactures, the Indians had them to a degree sufficient
to give some diversity to labor, and to increase considerably the occasions
548
Commerce o f the United States.
for trade. They were a people o f very respectable ingenuity, and should
have made fine mechanics, under proper education. In this, as in all other
respects, the Indians o f the South were much ahead o f those of the North.
Flint, stone, and bone, were the hardest material which they were able
to work. O f the first they made knives, arrow-heads, &c. O f the second
they made chisels, axes, mortars, kettles, pots, pipes, &c. O f bone they
formed awls, needles, and various ornaments. O f beads, made o f these ma
terials, and of' shells combined with feathers, they made the elegant head
dresses, necklaces, belts, &c., worn by their chiefs and leading warriors. In
the South there were head-dresses made o f copper, and gold even was
known, but not much in use. Inferior sorts o f pearls were also used at the
South, in these ornaments. Some of these ornamental articles answered
the place, in some degree, of money.
In the fictile art, their works were by no means o f the rudest sort.
They made indeed very handsome and serviceable pottery. A good kind
o f clay was used, being tempered with powdered quartz and shells, or
with fine sand. Sometimes it would appear to have been mixed up with
small pebbles, giving the articles strength, and an elegant appearance.
These were made with much skill and tastefully ornamented. Some say
glazing was wanted, but others have found them beautifully glazed, and
they were certainly able to resist the action o f fire. Vessels for uses o f all
sorts were made in this manner— pots, kettles, pitchers, vases, dishes, &c.
Pipes were made in fanciful shapes, having well designed heads o f men,
beasts, &c. This manufacture is one of the vestiges that connect the Indians
with Mexico. Although some things have been found in the mounds o f
the W est evidently o f European origin, and of recent deposit, such is not the
case with any o f these works. The most of all the manufactures here at
tributed to the Indians, were found in their possession by the first white
adventurers.
O f wood, a great quantity o f useful and ornamental articles were made.
It was used for constructing their habitations ; canoes were made from the
hollowed trunks o f trees, or o f their sewed birch, and sometimes highly
decorated; their paddles, bows, and arrow-shafts, were made o f different
kinds o f wood, and often carved with great skill. Baskets were made o f
twigs and the rinds o f trees.
O f skins and furs they made various articles o f clothing, frocks, trowsers,
moccasins, &c. O f skins they made also tents, canoes, quivers, &c.
They were acquainted with various paints and dyes. Bed ochre, and sev
eral substances for other colors were in considerable use. Some o f these
were used in the process o f tattooing, a practice universal among the war
riors.
Such were the principal manufactures o f the Indian population o f the
United States. Few and simple as they appear, they were yet much too
numerous, and quite too far advanced for all to understand. There must
have been a rudimentary division of labor. There were in the Indian com
munity men whose only domestic employment was agriculture; there were
others who were- mainly or solely mechanics— and of these again, there
were different trades ; and there must have been, at least in some tribes,
some whose main occupation was as merchants or navigators. A t least the
elementary principles of all these characters plainly appear.
Intercommunication is the leading feature in Commerce, and is that to
Line o f M a il Steamers fr o m the W est Coast to China.
549
which the beneficial effects o f the latter are mainly attributable. A very
wide, rapid, and extended intercourse among the Indian tribes, as already
alluded to, both furnished the occasion for, and was itself partially caused by
trade. The Indians in every part o f the United States were familiar with
the location, circumstances and character o f other tribes over a great part of
the whole country. In New England, they were mutually visitant through
out the whole section, and were well acquainted with the tribes even of
New York and Canada. Philip’s war is an illustration o f the extent and
strength o f their sympathy. It was from the reports brought by the In
dians, that commuication was first opened between the English colony at
Plymouth, and the Dutch colony at New York. In the French wars, the
Indians from Canada simultaneously attacked New York, New Hampshire,
and Maine. The Yamasee confederacy against the whites, in 1715, em
braced all the tribes from Cape Fear river, in North Carolina to the Ala
bama river, numbering six thousand warriors. W e need but allude to the
great northwestern confederacy, which defeated two American armies, in
1 7 90 -91, and which W ayne broke up in 1 7 9 4 ; and to the grand offensive
alliance formed by Tecumseh, in 1811, reaching from the far northwest to
Alabama. Sometimes very remote emigrations took place. The Tusearoras, on being defeated in North Carolina, in 1713, migrated thence to
New York and joined the Five Nations. From the latter region other tribes
have emigrated to the Western States, and even to points beyond the Mis
sissippi.
A rt. II.— OF THE ESTABLISHMENT OF A LINE OF MAIL STEAMERS,
FROM
THE
WESTERN
COAST
OF THE UNITED STATES ON THE PACIFIC TO
CHINA.
T h e report o f the Hon. E. C. C a b e l u , Chairman o f the Committee o f the
House o f Representatives on Naval affairs, to whom was referred the me
morial o f J. B . Moore, J. Lawrence, H . H . Goodman, J. H . Deihl, and their
associates, asking the aid o f government to establish a line o f mail steamers
from the W est Coast of the United States to China, is a document worthy
o f the consideration, and open to the comments, o f all who are interested
in the welfare o f our country.
Accompanying this report is a map exhibiting the proposed lines o f com
munication across the Pacific Ocean and across the continent, as well as the
lines at present in operation, excepting that up the Red Sea and across the
Isthmus o f Suez, by the Mediterranean to England. Some o f the great
objects to be obtained, as quoted from the annual report o f the Hon. R. J.
W alker to Congress, in 1846, are “ To revolutionize in our favor the Com
merce o f the world, and more rapidly advance our greatness, wealth, and
power, than any event which has occurred since the adoption o f the Con
stitution
again, in 1847, Mr. W alker “ enlarged upon the great profits
which would accrue to this nation by securing the command o f the Com
merce and navigation o f the Pacific.”
Reference is also made to the report of the Hon. T. B. King, dated May
4 ,1 8 4 8 , and to the report o f the Secretary o f the Navy at the opening o f
the 31st Congress.
550
O f the Establishment o f a Line o f M a il Steamers
These are remarkable documents; a full review o f them would occupy
too much time and space, therefore I shall confine myself principally to the
report o f Mr. Cabell, which takes much the same ground as the others.
The report bases its recommendations for a line o f steamers, on the fol
lowing general assumptions:—
“ The line will secure a speedy communication between the United States
and Shanghae, where a great portion of the trade and Commerce o f about
one half o f the whole number o f the inhabitants of the globe will be con
centrated.”
The time considered necessary to make the run from Shanghae to Puget’s
Sound, is fourteen days : the distance by the great circle, as given by Lieut.
Maury, being about five thousand miles, or at the rate o f about fifteen
knots.
From Puget’s Sound to Tehuantepec the distance is called twenty-eight
hundred miles, which, at the rate o f thirteen knots an hour, will require nine
days, one day is to be taken up in getting across the Isthmus, six more in
getting thence to New York, or fifteen thence direct to England : so that the
mails and passengers w oiM be taken from Shanghae to England in thirtynine days, or to New York in thirty d ays: the time now taken in doing the
first, via Suez, being, according to the report, sixty days, making a saving
o f twenty-one days, and the time consumed in doing the latter being at
present seventy-two days, the saving would be forty-tw o days.
It is assumed that the distance from Calcutta to Puget Sound is eightyfour hundred and fifty miles, and that this is to be done in twenty-three days,
or at the rate o f about fifteen knots, making a saving o f nineteen days to
New York, and getting to England in the same time as now occupied, ac
cording to the report, say forty-eight days. But these assumptions are noth
ing, compared to those further on, at page 7, which I quote in fu ll:—
Assuming that a railroad across the continent will be built, and that the travel
upon it will be at the rate o f thirty miles an hour, it will only require four days
from point to point. By the proposed line o f steamers, in connection with a
railroad across the continent, we shall be able to transport the mails and pass
engers from Shanghae to New York in eighteen days, and from Shanghae to
England in twenty-eight days, being a saving o f fifty-four days to New York,
and thirty-two days to England. From Calcutta to New York the time would be
twenty-seven days, and to England thirty-nine days, being a saving o f twentythree days to New York, and nine days to England. Then by means o f the mag
netic telegraph along the line o f such railroad, allowing one day for communi
cation, important commercial intelligence might be transmitted from Shanghae
to New York in fifteen days, and to England in twenty-seven days; and from
Calcutta to New York in twenty-four days, and to England in thirty-six days.
In the foregoing comparisons it is assumed that the mails and passengers are
now transported by the British overland route, in the time required by the con
tracts o f the British government with the Peninsular and Oriental Steam Navi
gation Company, for the transportation o f the mails from China and India to
England; and in several instances during the favorable monsoons in the Eastern
seas, it has been delivered in London in less time. But a writer in the Nautical
Magazine gives the average time actually consumed by this company in the trans
mission o f twenty monthly mails from the points specified, as follows:—
From Bombay to England.................................................... days.
“ Madras
“
“ Singapore
“
“ Calcutta
“
“ China
“
39
49
75
49
89
From the Western Coast to China.
551
From which it will he seen that the facilities for turning the trade and travel
from the oriental countries, across this country, are even much greater than
herein before estimated, and that it may be confidently assumed, that not only
the mails and passengers from Shanghae, Canton, Manilla, Batavia, Singapore,
Penang, Ceylon, Madras, Calcutta, and Bombay, for the United States, but for
England and other commercial points in Europe, will eventually be carried by
the proposed line o f ocean steamers.
W e cannot reasonably expect to compete successfully with other nations for
the trade and Commerce o f the world, with their attendant wealth, unless we
at least equal them in our provisions for rapid travel and safe and easy means o f
communication with the great commercial emporiums o f the several nations o f
the earth, and for the purpose o f showing how far we are behind Great Britain
in this respect, the following brief sketch is given o f the steam mail service o f
that government:—
The official statement for the year 1848, shows that Great Britain during that
fiscal year, employed in the transportation o f the mails seventy-eight steamships,
o f an aggregate tonnage o f 61,000 tons, for. which she paid £701,580 or
$3,507,900.
This throws the snail-like pace o f the other estimate so entirely in the shade,
that it would seem hardly worth while to take any note of i t ; all that is
wanting in order to make the thing quite popular and feasible, is to con
struct an atmospheric tunnel across the continent, for the transmission o f the
mails in about ten minutes, including stops, from Puget’s Sound to New
York, to be gradually improved so as to carry the silks and the teas o f
China.
The report goes on to say—
From the foregoing statement it appears that the British government has in
its employ a sufficient number o f steamships, so constructed that they may be
almost instantly converted, at a very trifling expepse, into war vessels o f the first
class, so as to constitute one o f the most formidable armaments in the world. In
proof o f this fact, we find by later advices from England, that seven o f the
Bombay mail steamers, were, in the almost incredible space o f three days, com
pletely fitted out with armaments and troops, and dispatched to Rangoon as part
o f the force employed in the present Burmese war. The expense for so sudden
an alteration was, and necessarily must have been, very slight. These vessels
are so arranged and distributed, as to keep up regular lines o f communication
between all the great commercial cities on the face o f the globe, and these ex
tensive lines o f steamships, forming a vast net work, covering every ocean and
every sea, have been constructed and kept in successful operation wholly by
private enterprise and private wealth. Enterprising capitalists have been induced
to invest the vast amount o f money necessary to establish this stupendous sys
tem o f ocean steam navigation, by the liberal contracts entered into with gov
ernment for the transportation of mails. It is this system o f encouraging, and
thereby stimulating private enterprise, which has enabled Great Britain to con
trol the Commerce o f the world, and to maintain her boasted maritime supre
macy. The old proverb that “ it is right to take counsel from an enemy,” ap
plies with great force here, and when our government, true to her own interests,
shall learn to extend the same fostering care and encouragement to the enter
prise o f her own citizens, the boasted title o f “ Queen o f the Seas,” will be
among the records o f the past, and British policy and British arrogance, be forced
to give way before the commercial stride o f the giant republic.
"What is said in illustration o f converting mail steamers into war steamers,
is not founded on correct information; I believe that the steamers alluded to
belong to the East India Company, always wore a pendant, and were occa
sionally used to carry the mails to Aden and Suez, and on the occasion al
luded to were merely used as government transports.
552
O f the Establishment o f a Line o f M a il Steamers
The report assumes that the postage now paid on the East India and
China end o f the line, amounting to an average o f four hundred and fiftyeight thousand and sixty five dollars per annum, would be at once diverted
to the United States lin e; and on this an estimate is made up to show that
each ship ought to receive one hundred and fourteen thousand five hundred
and sixteen dollars per annum from the United States governm ent; this sum
multiplied by the number o f ships, twelve, gives the estimated amount of
receipts from the mail at $1,374,102, leaving, after paying all expenses of
sailing, insurance, interest, and depreciation ten per cent, the sum of
$2,854,588 to be made up from freight and passengers, in order to get back
the amount expended.
After these estimates o f sailing and o f receipts for mail steamers on a new
route where coal depots do not now exist, which estimates ought to be re
ceived with great caution, as all know who have had anything to do with
steam, the repott goes on to show, that the United States is the “ p iv ot”
upon which the interests o f the ivhole commercial world must revolve, and
that in turning this pivot, vulgarly,“ grtasing the wheels'’ the United States
must open her treasury to the petitioners, and enable them to turn the whole
trade o f China and the East Indies, now carried round the Cape of Good
H ope and through the Red Sea, into the Pacific Ocean and across the Amer
ican continent; “ and in order to give a clear understanding o f the necessi
ty which points out this route as the nearest between the United States on
the Pacific and Eastern Asia,” the report quotes Lieut. Maury’s letter to Mr.
T. B. K in g ; these quotations show that by a Mercator's Chart the most
direct way from Panama to Shanghae is, by the Sandwich Islands 9,500
miles, but that this is not really the nearest, and then he conclusively shows it is
by the great circle as illustrated on a g lo b e ; this necessarily takes the steam
ship to the north, in a stormy, foggy sea, without any convenient place for
coal depots, and where every seaman, who has crossed the North Pacific,
knows that it -will be very difficult to realize the great element, (speed, fifteen
knots,) talked o f in the report, in order to make the run in fourteen days.
Instead o f this, it is more likely to require twenty-five days going to the
westward, and at least twenty, going to the eastward ; it being pretty well
established by experience, that coals when carried a long distance, do not make
steam to propel large ships at the rate o f fifteen knots; while on this part
o f the subject, it may be well to notice that the report allows only thirteen
knots between Puget’s Sound and Tehuantepec, while it allows fifteen in the
North Pacific and on the coasts o f Japan and China; the best speed ought
to be made on the coast, where smooth seas and fine weather generally pre
vail, and where there will be more active competition. It appears rather odd
too, that the steamers between Calcutta and China are to g o fifteen knots,
while all other steamers on the present British routes are to continue to go
only eight or ten knots 1
The report, in advocating the shortest route, says—
Lines o f ocean steamers from Panama by wTay o f the Sandwich Islands, and
by way o f San Francisco and the Sandwich Islands, have been suggested, but
an examination o f these various routes will convince all o f the impracticability of
departing from the shortest course between two great commercial points, only
consuming more time in the voyage and thereby increasing the hazard.
Now, if the net result o f the proposed line is to be taken into the account,
and if speed, wear and tear, economy of fuel, are to be considered in making
F rom the Western Coast to China.
553
it up, then the Sandwich Islands ought to be one o f the principal stopping
places, and if more than one be considered necessary between the W est
Coast and China, one o f the Marian or Ladrone Islands ought to be fixed
upon, for these are places to which coal can be conveniently carried; besides
which, there are political reasons for going via Sandwich Islands. In this
connection I would notice on page 28 o f the report, that—
The whaling ships o f New England which now go out in ballast, will then al
ways be certain o f a full cargo and fair freight, to some one o f their Pacific stations,
because if we suppose that a ship will make one trip to California, Oregon, or
China, in each year, and carry four hundred tons o f coal, it will require fou r
hundred, and thirty-seven ships to carry out a sufficient quantity to supply twelve
steamers for one year.
The idea o f whaling ships going out in ballast is certainly new to me, or
if they go in ballast trim, it is new to me that they ever have any consid
erable space unfilled!
According to the valuable statistics on the whale fishery by the Hon. J.
Grinnell, as given to Congress in 1844, a ship o f about 350 tons, engaged
in the sperm fishery, requires an outfit costing about $20,000, and one in the
right whale fishery about $ 1 7 ,0 0 0 ; these outfits are bulky and nearly fill
the ships, or render it impossible to take out coals ; the idea is simply absurd
o f carrying coals in whaling ships at this day, and when the commercial
millennium comes, o f which so much is foreshadowed in the report, the oil
caught in the Pacific will go home through the atmospheric tubes, or by the rail
road, and the supplies for the crews will be found on the Aleutian Islands, the
Sandwich Islands, and at Puget’s Sound 1 This will certainly be done long
before whaling ships can afford to carry coals on freight, and long before
steamships will cross from Shanghae to the W est Coast in fourteen days!
I have great regard for Lieut. Maury’s general principles o f winds and
currents, and for his estimates o f distances by the great circle, but when he
goes into the question o f remuneration and profit, I cannot but have some
doubt as to his theories ; we must g o by the longest route if it will result
best in the ledger.
The distance from San Francisco, via Puget’s Sound, to Shanghae, by the
shortest route to the northward, as Lieut. Maury tells us, is about one thous
and miles less than by the way o f the Sandwich Islands; in this route by
the Islands fine weather prevails nearly all the time, and fair winds nearly
all the way when going to the westward ; it will require only three days to make
up the difference o f distance, and there is no sane man who knows anything
o f the weather in the Pacific below the latitude o f 25° N . and the parallel
o f the Islands, who will not concede at once, that the passage can be made
as quick, or quicker, by way o f the Islands from San Francisco, with much
less wear and tear, and a great deal more comfort to passengers, while the
Islands will become o f much more importance, and in short, will, by this
process, soon become American ! The return voyage would be made quicker
to Puget’s Sound, or to San Francisco, by the northern route without going
to the Sandwich Islands, but would it pay \ But these “ fifteen knot steam
ers ” would find no more difficulty in going straight to the Islands, than the
steamers which are to go from the Isthmus o f Tehuantepec to England,
against the north-east trades, though assisted by the Gulf Stream ; no more
difficulty than the slow English steamers would encounter in going from Cal
cutta to Shanghae in “ nine days,” half the way against the north-east mon
554
O f the Establishment o f a Line o f M a il Steamers
soon, the report estimates the run from Calcutta to Puget’s Sound at twentythree days, fourteen of which are wanted to go across the P acific!
To come back to the net results, I imagine that it would be much betterto go both ways via the Sandwich Islands, even at the expense o f steaming
a thousnnd miles further. The fact in regard to a steam route between
China and the W est Coast, is just this : there can be no profit in it in pad
dle-wheel ocean steamers, without getting from the government a much
larger sum than the report suggests; the true policy of the government
should be to encourage a line o f powerful auxiliary propellers, with a full
supply o f canvas, and to be perfect sailing ships, suitable in time o f war for
frigates. Such vessels would make the passage quick enough, frequently
quicker than regular steamers, and they would be able to carry large car
goes at small cost, and as government ships, would be more useful in time
o f war than any other class; their speed would afford sufficient inducement
to ship all we shall want to ship from China for the next two hundred years.
The route from San Francisco to China, and back, seems specially calculated
for this class o f ships, and they would pay when paddle-wheel steamers would
lose money. It is only necessary to go to Southampton to see ships of this
class which can steam ten to twelve knots, with a moderate consumption of
fuel, and which, under sail alone, go twelve to thirteen knots.
As to the ideas given out in pages 19 and 20, v iz:—
The committee have no means o f ascertaining the actual value o f the export
and import trade o f Cnina, and the various maritime countries o f the East, con
tained within the limits o f the above-described triangle; but that o f China alone
has been estimated by those most competent to judge, at $125,000,000 per an
num, two-thirds o f which is carried on by the British, and the annual value o f
the export and import trade o f Great Britain with the Asiatic Archipelago and
Pacific Islands, exclusive o f those belonging to China, is about $75,000,000,
making the commercial operations o f Great Britain with thostfcountries, amount
annually to about $160,000,000. This valuable trade is now monopolized by
that government, and in a great measure by means o f cotton fabrics, the raw
material for which is produced in the United States, transported to England to
be manufactured, and then carried past our own ports to supply the demand for
them in the isles o f the Pacific and China.
What then is to prevent us from securing this immensely valuable trade? By
the shortest and safest commercial routes o f communication, Calcutta, Singa
pore, Canton, Shanghae, as well as every other maritime port in Eastern and
South-Eastern Asia, are nearer to New York, New Orleans, and Charleston, than
they are to England. By the construction and establishment o f the necessary
lines o f railroads and steamships, we can communicate with all these countries
much sooner, and at less expense, than the British, and consequently can secure
the greater portion o f this valuable trade.
Experience has proven that whenever we have been brought into commercial
communication with any people, near enough for our agricultural and commer
cial staples to bear the expense o f transportation, we have been able to build up
a trade o f about one dollar per inhabitant. Our trade with Hayti, with a pop
ulation o f 1,000,000, amounted in 1851 to $1,847,290, or 1.84 per inhabitant,
and yet it is difficult to learn o f what it consists. Our trade with all Europe,
containing a population o f 249,337,204, amounted in the fiscal year ending 30th
o f June, 1851, to 170,889,034, being at the rate o f 70 cents per inhabitant, and
with England alone, our trade for the same year amounted to 17,00 per each in
habitant.
I f then we can bring the trade o f these vast and populous countries, containing
700,000,000 o f people, within from fifteen to thirty days sail o f our Pacific posessions, may we not reasonably expect to build a Commerce with a peo
ple possessing the means o f exchange for our great staple products to an almost
F rom the Western Coast to China.
455
unlimited extent, equal at least, in proportion to their numbers, to one-half o f
that we now enjoy with the ignorant, improvident, and indolent negroes of Hayti ?
and if so, our trade with continental and insular Asia, Japanese Empire, and
Austral Asia, must very soon amount to $650,000,000 per annum, a sum about
three times as large as our present exports to all the world.
They are simply absurd.
It must be remembered that few people will g o to China and the East
Indies for pleasure, and that a steam line across the Pacific cannot command
passengers like an Atlantic lin e; will the trade bear so large a tax as
$2,854,588, which, according to the report, would be necessary in order to
make the company whole. H ow can the cheap and bulky article o f tea
bear steamer freight, to say nothing of an overland carriage where it must
be handled several times— imagine a chest o f Congou going, per steamer
and railroad, from Shanghae to England in thirty-nine days !
In pages 26 and 27, we find the follow ing;—
But while securing the cotton trade o f China, we also as certainly, by the same
means, secure the silk and tea trade o f that country, amounting to twenty-eight
or thirty millions o f dollars per annum. These articles would bear transporta
tion over a railroad across the continent; but even if the transportation was con
fined to a route across the Isthmus, there would be advantages in such a course
o f trade, additional to those which are desired, and which have been before ar
gued, from the shortening o f the distance to be traversed, and the time occupied
in transportation. Cargoes, as we have already seen, may be conveyed from
Shanghae to Liverpool, by way o f Tehuantepec, in about thirty-nine days;
whereas, by the present sailing route o f the British vessels, it requires from one
hundred to one hundred and fifty days to go from China to England. The British
sailing route crosses the equator twice, and the tropical climate heats and de
stroys or greatly injures the best teas, as well as all vegetable and animal pro
ducts designed for human subsistence, which difficulty is entirely avoided by the
higher latitude, anfl uniform temperature o f the proposed American route. With
these decided advantages, our merchants will be able to supply the British mar
kets with a better article o f tea than can be possibly obtained at present, and at
a cheaper rate, and consequently this valuable trade must fall into our hands.
The committee believe that an extensive and lucrative trade can be opened
with Japan, in cotton and woolen groods, through the Chinese merchants located
at Chapua, who enjoy the exclusive privilege o f trading with Japan. That em
pire contains a population never estimated at less than fifty millions o f inhab
itants ;* and as they have no sheep, while woolen clothing is suitable during
the winter throughout the whole empire, a demand might be created for a very
large amount o f coarse woolen goods. It is said that the mineral resources o f
the country, particularly in tin and copper ores, which have been lately in great
demand, are sufficient to provide returns for immense imports.
The great agricultural interests o f our country will be materially advanced by
the establishment o f the proposed lines o f communication. When a rapid and
free intercourse shall be established between our people and the millions o f Asia,
the exclusive policy o f the Chinese race must yield to American energy and en
terprise. The customs, manners, feelings, and wants o f that numerous people
will be slowly, yet no less certainly, changed. New habits and new modes o f
living will be introduced among them. The laboring classes will cease to live
and die on their unchanged diet o f rice, when they find that they can obtain from
our shores a more wholesome and nutritious food, in the shape o f meat and
bread. When they have learned to use these articles, and acquired a taste for
them, they will be considered necessaries o f life, and essential to their comfort
and happiness.
A late writer named Hue quotes it at 70,000,000.
456
O f the Establishment o f a Line o f M a il Steamers
It is quite idle to falk o f supplying England with teas by way of America
across the Pacific, and it is very doubtful if any considerable portion of the
demand for the United States would go that way ; raw silk as well as man
ufactured silks might take that course.
Tea, when well stowed in a
good ship, bears the voyage round the Cape without injury, but it is packed
in such frail packages that it will not bear much handling, and if we are to
supply England with tea, we must supply China with lumber and nails to
make better chests!
W e are told also, that we are to supply China and Japan with woolen
and cotton goods, to a large extent ? In page 24 we see that the whole
production o f the world in cotton is 2,000,000,000 o f pounds, o f which twothirds is grown in the United States, 450,000,000 in British India, and the
balance, about 217,000,000, in China, Africa, and South America. N ow
the fact is, that every one of the 350,000,000 o f Chinese, wear's cotton in some
shape or another, excepting a few paupers and they cant afford to wear any
thing, judging from this fact, and from the important fact that the price o f
our cotton fabrics and those o f England, as well as the raw cotton o f India,
(o f which some 240,000 bales g o annually to China,) is mainly influenced
by the state o f the cotton crop in China, it would seem probable that these
350,000,000 o f people must raise as much cotton as we do, or that they
must wear silks, or g o naked. W e know nothing certain o f the amount of
the Chinese cotton crop, except that it must be very large. It is not at all
probable that the Chinese and Japanese will want any more o f our products
than they can pay for in tea, silk, matting, etc. Supposing that the Chinese
and Japanese have been naked and hungry for the last few centuries, and
that we can clothe and feed them cheaper than England, how, let me ask
Mr. Cabell, are they to pay for being fed and clothed ?
It is quite as reasonable to suppose that they will want pur beef and pork
and our flour, as it is to suppose that they will require any considerable part
o f our raw cotton and our cotton fabrics beyond what they have received
during the last ten years, and beyond what they can pay for in tea and silk.
The report goes on to say a great deal on the subject of change o f habits
in the Chinese and Japanese, and to give reasons why we should enlarge our
commercial intercourse with them.
It is true that they might like to change their diet and their ward robes, but
how are they to pay for these luxuries, and in what articles o f Commerce
that we want, besides 30 to 40 millions pounds o f tea, a little silk, matting,
cassia, and China ware ? H ow are we to be p aid , that is the question ? The
report also alludes to the article o f tobacco, I quote from page 27—
The committee also believe that a considerable’trade in the article o f tobacco
may be established in China. Martin, the writer before quoted, informs us that
an inferior kind o f tobacco has been recently introduced and extensively cultiva
ted in China. It is called yere, (smoke,) and differs very materially from the
American tobacco, as it is very mild. It is used by all classes, including boys
and girls, and it is difficult to perceive any good reason for supposing that when
the superior American article shall be introduced there, it will not be received
with as much favor, be as highly appreciated, and as extensively used, as it has
been in every other country where it has been introduced. Should the Chinese
not prove an exception to the general rule, we may reasonably expect to secure
a market in their countries for a quantity of tobacco, almost equal in value to
our present exports o f that article, because the number o f people in China is be
lieved to be greater than the whole number o f our foreign consumers at the pres
ent time. The exports o f tobacco for the year ending the 30th o f June, 1851,
F rom the Western Coast to China.
557
amounted to $9,219,251, and as we have seen, it is not at all improbable that
we may be able to treble that amount, by introducing it into the Chinese markets.
It is really astonishing to find intelligent men, like the H on. Mr. Cabell,
putting such crude views as this into print for the purpose of enlightening
Congress ? He says (quoting Montgomery Martin,) that all the inhabitants
o f China use a mild kind of tobacco. I am aware o f this fact, therefore be
fore we can give them any Virginia tobacco, we must get rid o f the native
crop as well as the native taste ; it is really too absurd an idea that we are
to send them our tobacco by railroad and steamship, or in any other way.
I might occupy much time and space in commenting on the untenable
ground assumed by this report in a commercial point o f view, but I will pass
on to what is said on the proposition in a naval point.
Here it is assumed that these twelve steamships would be necessary, in
case o f any sudden war, to protect the twelve hundred ships and the thirty
thousand men employed in the Pacific w hiling business and in the India
and China trade, and that they could do this to a great extent. But I ima
gine Mr. Cabell does not mean to say that these ships and men are trading
within the limits o f the steam line all at once ; it is probable that in case o f
any sudden war, many o f these ships would be captured, or would be safely
hauled up in neutral or home ports, long,before the steamships could be pre
pared to protect them against any formidable enemy.
These ships might be useful so far as they would go, and as their employ
ment as warships would cut off the supply o f congou to John Bull, he would
soon have to come to terms ; and as for any other enemy, we could keep
him at arm’s length without the aid o f s'eam ships.
It is too true that we should be in a “ poor fix ” for want o f steamers and
men o f war, in case o f a war with any maritime nation, and there is no
question but that our navy ought to be much increased, and it must be done
long before any railroad and steamship communication with China can take
place under the United States flag. In this report it is assumed that the
steamships are to be superior to any now afloat, especially in speed, they are
to be invulnerable to accidents, and while we are making this immense pro
gress our cousin John is to set still and look o n ; he is quietly to see us
“ bag ” all the profits; his ships (excepting only the line from Calcutta to
China,) are to uo only eight or ten knots, while ours are to go fifteen; in
short, we are to have no competition, on the contrary, the means now in use
under the British flag, are to be made subs rvient to this plan.
The report winds up by recapitulating the many striking advantages to ac
crue to the United States, in the following language:—
For the encouragement o f the great enterprise which the memorialists pro
pose, they ask nothing at the hands o f the Government but the proceeds o f the
mail matter which they shall carry, along with the privilege o f purchasing at
government price, fifty sections o f land in Oregon. The assistance thus asked
doe3 not involve the expenditure o f a single dollar from the national treasury,
but as has been before shown, will add immeasurably to the future revenue o f
the country.
In addition, the committee will briefly and rapidly recapitulate the actual re
sults which must necessarily follow this undertaking. It will furnish the means
o f carrying the freight, mails, and passengers from the great emporium o f
China to New York in forty-two days less time, and to England in twentyone days less time than that now consumed by the present British overland
route. The proposition for this service is at the same time more favorable than
any contract o f a like nature, either in England or the United States. It will
558
O f the Establishment o f a Line o f M ail Steamers, <£c.
extend our commerce— open new facilities for labor and enterprise— greatly in
crease the home consumption and foreign demand for breadstulfs, and by open
ing a new market for cotton, cotton manufactures, and tobacco, powerfully stim
ulate and encourage the manufacturing and producing interests.
It will change the whole career o f commerce and lead it across this continent,
giving to our countrymen the entire control o f the Asiatic trade— a trade which
from time immemorial has built up the political, commercial, and maritime su
premacy of the nation who has enjoyed it— which has been instrumental in
making that little Island o f the North Sea the great commercial heart o f the
world, whence received from the extremities, flow again through a thousand
channels, the treasures o f every clime and o f every sea, and given to Great
Britain a power and predominance, before which the majesty o f Rome in her
palmiest days sinks into comparative insignificance.
It will furnish a ready and efficient means o f national defense for our Pacific
seaboard, without the annual expensive burden which must per force attach to
an increased naval establishment.
And, finally, it will develop, strengthen, and enrich, that great territory o f the
Pacific, which, in consequence o f its remote and iso'ated position, appeals most
directly to the central government for its care and support.
In regarding the present and looking earnestly into the future, who can read
the oracle o f our national destiny? Crippled as our energies now are, pent up
within the restraining bounds o f a too cautious policy, we have yet within our
great system an expansive power which only needs the firm encouraging hand
o f wise legislation to set free. The vast Commerce, o f which the mighty and
majestic Pacific will be the theater, is now within our grasp, the means by which
to become the first maritime, commercial, and political power o f the world, are
stretched out before us. Should we pause in the effort to secure this supremacy?
Should any temporizing, timid spirit, be permitted to check at this stride o f pro
gress? The teeming millions o f the eastern slope o f Asia, without a single ob
stacle to intervene, are spread out almost face to face with the extensive pos
sessions o f the western slope o f this continent. The State o f California and
the Territory o f Oregon have the same claims to our support and assistance as
Massachusetts, New York, or any o f the Eastern States. Even were it not true
that the benefits o f this trade will be enjoyed by the old States, is not the fact
that Oregon is but 5,000 miles from Shanghae, (whilst the present trade takes
us over a course o f 15,000 miles,) a sufficient reason for the favorable consid
eration o f a proposition like this ?
To the Christian and philanthropist this enterprise appeals witli irresistible
force. The influence which such a regular and extended intercommunication
must have upon the spiritual condition o f the Asiatic races is incalulable. - The
mission which went out from the plains o f Shinar, having girdled the globe, will
then have completed its circle; and the religion o f Christ, breathing a purer
light, and causing a more perfect civilization in its progress, will, through the
agency o f God’s own people, kneel again at the manger o f Bethlehem. Then
will the prophecy be fulfilled, and the universe, disenthralled, shall be filled with
the knowledge and glory o f the Messiah.
The committee have now discharged the trust reposed in them, and in sub
mitting this report, may be permitted to hope that their brother members will
give the subject a careful and impartial investigation, before acting in the prem
ises. Know’ing well the characters and standing o f the parties to the under
taking, the committee feel conscious that this is a permanent and responsibly not
a speculative enterprise. They and their associates are men o f high reputation,
acknowledged business capacities, and extended ample means. Feeling then the
immense magnitude o f this enterprise, and understanding the immeasurable bene
fits which must result to the country from its establishment, the committee beg
leave to report a bill accordingly, to which they ask the favorable consideration
o f the House.
It is thus made quite clear to the committee that the memorialists are ac
Trade and Commerce o f N ew Orleans in 1852- 53.
559
tuated by no selfish designs, that their first aim is to enrich the United
States, next, to feed and clothe the hungry and the naked three or four hun
dred millions o f Chinese and Japanese; to introduce into these countries
the best tobacco, and the various labor-saving machines, so that these be
nighted people may take their ease, smoke their pipes or their cigars, and
wear their woolen sacks and coats gracefully, while the magical steam-engine
will grind their corn and weave their Alabama cotton. I recommend the intro
duction o f two or three hundred million baby-jumpers in order to mitigate the
sufferings, and straighten the bow-legs, o f the children now slung on their
anxious mothers’ backs; this alone would support one steam line if Uncle
Sam will pay part o f the expense, and it would so far improve the breed,
that the emigration of Coolies to Cuba would be much more valuable than
at present. It must not be supposed, because I criticise the report, that I
have any unfriendly bias towards the Hon. Mr. Cabell or towards the m e
morialists, or that I have any objection to seeing a steam line on the Pacific.
On the contrary, I think extremely well of a line of powerful auxiliary steam
ers ; if properly constructed and fitted, they would be much better and much
cheaper as mail steamers fo r the proposed route, as well as for vessels o f war.
They could use their canvas most effectively in the Pacific, by the routes I
advocate, and in case o f any accident to machinery, they could make good
time under canvas; and as they would not be under steam more than half
to two-thirds of the time, their machinery would be vastly more durable.
My only object in making these remarks, is to give the public some o f
my views founded on a long experience o f the China trade : this trade must
be to some extent progressive in imports, as well as exports, but this must
be very gradual. I have no doubt we shall soon consume 50,000,000 lbs.
o f teas in this country, and that we shall always compete successfully with
England in the coarser fabrics o f cotton, and that we shall have access to
China and probably to Japan, sometime during the present century; but
the youngest inhabitant will not live to see the Celestials smoking Virginia
tobacco as a people, nor. cutting their paddy by the new reaping machine.
Some delay in the progress o f China must result from the present un
settled state of the country, but when the rebels have done quarrelling with
the imperialists and with each other, the progress will begin.
I am &c., <fec.,
r . b . f.
Art. III.— TRADE AND COMMERCE OP NEAT ORLEANS IN 1831-51.
I n accordance with a custom we adopted a few years since o f transferring
to our pages the annual reports of the leading commercial cities o f the
United States, we lay before our readers the able and reliable annual state
ment o f the P rice Current, Commercial Intelligencer, and Merchants’
Transcript, published at New Orleans. In connection with the statements
o f previous years published in former volumes of the Merchants’ Magazine,
it affords a full history o f the commercial growth o f New Orleans for a
series o f years. The writer congratulates the community upon a season of
general prosperity. To the planter ample crops and remunerating prices
have been awarded; while the merchants of New Orleans have reason to be
satisfied with the season’s operations.
560
Trade and Commerce o f New Orleans in 1852- 53.
ANNUAL STATEMENT OP THE TRADE AND COMMERCE OF NEW ORLEANS FOR THE
TEAR ENDING SEPTEMBER
1, 1853.
Our supplies o f Western produce, with the exception o f pork, beef, &c., have
fallen short o f last year; but o f our two leading Southern staples, cotton and
sugar, the product has been greater than in any previous year, these two articles
alone having furnished a portion o f our season’s business exceeding eighty-three
millions o f dollars in value.
And while the generally favorable result o f the year just closed is matter o f
congratulation, it is also satisfactory to remark that the indications would seem
to be auspicious for the season now entered upon. True, it is quite too early to
estimate, with any approach to accuracy, the probable extent of the crops o f our
leading staples; but whatever their extent may be the facilities for their disposal
are likely to be of a very satisfactory character. The ship-builders o f the North
are busily engaged in extending the means of transportation to other markets,
and the facilities for effecting exchange negotiations, (an important considera
tion,) must be materially augmented through the operations o f the new banking
institutions which have sprung into existence under the provisions o f the Free
Banking Law, passed at the last session o f our State Legislature. With abun
dant crops and remunerating prices, (which may reasonably be hoped for,) we
shall have the basis o f an extended general trade, and our city’s advancement,
aided by the noble works o f internal improvement now in progress, will present
a ratio more in harmony than the past has been with its pre-eminent advantages
o f position.
The value o f products received from-the interior since 1st September, 1852, is
$1342,33,735, against $108,051,708 last year, showing an increase in the value
o f our Commerce with the interior since 1842, o f $88,517,690, or nearly two
hundred per cent. It has been usual with us to give, in this connection, the
value o f merchandise exported, as shown by the records o f the Custom-house,
but we have not been able to obtain the necessary data this season. The opera
tions o f the Branch Mint at this place show a further material falling off, the
total deposits o f gold and silver for the year ended July 31st, 1853, being
$4,485,866, against $603,650 last year, and $9,107,922 the year before. O f
the gold, there was from California $2,384,377, against $5,821,695 from the
same source last year, and $8,152,878 the year before. The coinage in the
same period has been 531,500 pieces gold, value $2,515,000, and 2,302,000
pieces silver, value $342,000. Total pieces, 2,833,500; total value, $2,857,000.
O f the silver coinage, 1,836,000 pieces, (value $290,000,) were o f the “ New
Emission,” viz.: 80,000 half dollars, 580,000 quarter dollars, 930,000 dimes,
240,000 half dimes.
C o t t o n . The season has closed upon the largest cotton crop ever produced
in the United States, and this notwithstanding a slight falling off in the receipts
at the Atlantic ports, Mobile, and Florida, as compared with last season, the
great bulk o f the increase being in the receipts at this port. This increase of
production, however, has happily been met by a corresponding increase o f de
mand, and we are enabled to congratulate our planters upon having realized a
better average for their crops than was obtained even for the shorter product o f
last year; thus increasing their aggregate income in a very large amount. W e
shall briefly refer to some o f the leading features o f the market’ s progress, and
shall introduce some tabular statements, which we think will be found interest
ing to parties connected with the cotton trade.
The first bale o f the new crop reached market on the 2d August, which was
eight days later than the first receipt o f the previous year; but, notwithstanding
this tardiness o f the first arrival, the receipts o f new crop up to the 1st Septem
ber summed up 5,077 bales, which was the largest amount received up to the
same period since 1846. The first few bales, as usual, brought fancy prices, but
the market rapidly ran down to a parity with the old crop; and on the 1st Sep
tember the quotations were 10 a lOf cents for good middling to middling fair,
the sales up to that time having been about 2,500 bales, and principally o f those
Trade and Commerce o f N ew Orleans in 1852- 3.
561
grades, though there were some parcels o f good and fine on the market, the
early receipts having presented a considerably higher average than the first ar
rivals o f the year previous. As the stock accumulated the prices yielded some
what, but, as a general remark, they were quite well maintained under the influ
ence of a good demand, until the latter part o f November and the early part o f
December, when the unusually large receipts, together with high freights, a lack of
tonnage, inadequate shipping facilities, and adverse accounts from abroad, bore
heavily upon the market, and a material decline took place, especially in the low
and middling grades, our quotations on the 15th December being for low mid
dling 71 a 71, middling 7J a 81, good middling 8 f a 8J-, &c., &c. This was the
lowest point o f the season, but the depression was only momentary, as the mar
ket almost immediately rallied, under the influence o f unexpectedly favorable
advices from Europe. There was also a period o f depression, attended with
great irregularity in the prices of the lower grades, in the early part o f Febru
ary ; but, on the whole, the season, though not characterized by that remarkable
degree o f steadiness which formed the market’s peculiar feature last year, has,
nevertheless, we should suppose, been satisfactory in its results, at least to the
planter, though the merchant has frequently been subjected to much perplexity
and annoyance from the indequate facilities heretofore provided for effecting de
liveries.
The following tables, which we have compiled from our records, will present
a concise history o f the course o f the market. A reference to them will show
that the extreme fluctuation for the middling cotton has been 21 cents per lb.,
and that the average price o f the season is 9 cents per lb., against 8 cents last
year, and 11 cents the year previous. Besides the increase in the number o f
bales, there proves also to be an increase in the average weight o f the bales,
which we have ascertained to be 455 lbs., against 438 lbs. last year. This would
give an aggregate weight for the portion o f the crop received at this port of
757,513,120 lbs.
TABLE SHOWING THE QUOTATIONS FOR L O W MIDDLING TO GOOD MIDDLING COTTON ON THE
FIRST OF EACH MONTH W IT H THE RATE OF FREIGHT TO LIVERPOOL, AND STEELING BILLS,
AT SAME DATE.
Sterling.
per ct prm.
9 i a 10i
8 1 a 9|
8 a 8f
8 a 81
7 1 a Si
7 f a 81
8-fa 9 i
8|a 9
8 f a 91
8 f a 91
8 f a 91
9 a 91
Low Mid’lg
1852.
to good do.
September.......... ..........
81 a 10*
October............... ..........
9| a 101
Novem ber..........
Decem ber........... ......... Si a 91
January, 1 8 5 3 ...
F ebruary ........... ......... 8J- a 10
March.................
A pril................... .........
8 f a 101
M ay..................... .......... 91 a l i i
June.....................
•July..................... ......... 91 a 111
August............................ 9 * a l l i
Freight.
d. per lb.
fa —
i a—
15-32 a i
f a fa —
19-32 a f
11-16 a 1
9-16 a 19-32
-fa 7-16
&a—
13-32 a 7-16
7-16 a —
TABLE SHOWING THE HIGHEST AND LOW EST POINT IN EACH MONTH, FOR LOW MIDDLING TO
MIDDLING COTTON.
September... .
October...........
November........
December........
January,.........
February.........
..
..
...
Highest.
9 i a 10
9 i a 9f
9 fa 9 f
...
..
81 a 9 f
8i a 9
VOL. XXIX.--- N
o
V.
Lowest.
a
9 a 91
8f a 9f
7 f a 81
8 a 81
71 a 8 f
36
March....................
A pril.....................
May.......................
June......................
July.......................
August..................
Highest.
8# a 9 f
9 f a 101
9 i a 10J
9 i a 10
91 a 101
9 f a 10f
Lowest.
8 a Sf
8f a 9f
8f a 9f
9 a 10
91 a 10
9 f a 101
562
Trade and Commerce o f N ew Orleans in 1852- 3.
TABLE SHOWING THE PRODUCT OF L O W MIDDLING TO GOOD MIDDLING COTTON, TAKING THE
AVERAGE OF EACH ENTIRE T E A R FOR EIGHT Y E ARS, W IT H THE RECEIPTS AT N E W OR
LEANS, AND THE TOTAL CROP OF THE UNITED STATES.
1 8 4 5 - 6 ..
1 8 4 6 - 7 ..
1 8 4 7 - 8 ..
1 8 4 8 - 9 ..
Total Crop.
bales.
. .2,100,537
..1 ,7 7 8 ,6 5 1
..2 ,3 4 7 ,6 3 4
..2 ,7 2 8 ,5 9 6
Receipts at Average
N . Orleans. Price.
bales, cts. pr ib.
1,041,393
61
707 ,32 4 10
1,188,733
6f
1,100,636
6i
1 8 4 9 -5 0 .
1 8 5 0 -5 1 .
1 8 5 1 -5 2 .
1 8 5 2 -5 3 .
Total Crop.
bales.
.2 ,0 9 6 ,7 0 6 ’
.2,3 5 4 ,2 57
.3,0 1 5 ,0 29
.3 ,2 2 0 ,0 0 0
Receipt at Average
Price.
N. Orleans.
bales.
cts. pr lb.
ii
797,387
995,036
ii
s
1,429,183
9
1,664,864
The total receipts at the port o f New Orleans since 1st September, 1852, from
all sources, are 1,664,864 bales. This amount includes 60,875 bales received
from Mobile and Florida, and from Texas by sea; and this being deducted, our
receipts proper, including 23,995 bales received direct from Montgomery, &c.,
are shown to be 1,603,989 bales, being an increase o f 209,765 bales over the re
ceipts o f last year, which were the largest ever known up to that time. The
total exports since first September are 1,644,981 bales, o f which 922,086 bales
were shipped to Great Britain, 211,526 to France, 244,673 to the North and
South o f Europe, and 266,696 to United States ports. On a comparison o f the
exports with those of last year there would appear to be an increase o f 150,846
bales to Great Britain, 15,272 to France, 35,514 to the North and South o f
Europe, and o f 10,250 bales to United States ports. The total receipts at all the
Atlantic and Gulf ports, up to the latest dates received— as shown by our General
Cotton Table— are 3,211,172 bales; but the actual crop, when made up to the 1st
September by the New York Shipping and Commercial List, with the difference
o f stocks at Augusta and Hamburg, receipts overland, & c., will probably not be
far from 3,220,000 bales; an excess o f 205,000 bales over the crop o f last year.
Thus the largest Cotton crop ever produced in the United States has been
disposed of, and at a very favorable average o f prices, though besides the mate
rial increase o f our crop the lower grades o f American Cotton have had to con
tend with unusual imports into Great Britain from India, the quantity received
from that source during the first six months o f the present year being 266,603
bales, against 44,019 bales in same period last year. According to the semi-an
nual Circular, o f Messrs. Hollingshead, Tetly & Co., Liverpool, which we have
been accustomed to take as authority, it would appear that the total supply o f
Cotton in Great Britain, for the six months ended on the 30th June, 1853, was
2,182,250 bales, against 1,895,963 bales for same period last year, and that o f
this quantity 1,496,595 bales were American, against 1,470,662 bales last year.
The quantity taken for consumption in the same time was 1,040,150 bales,
against 1,031,763 bales last year, which shows a slight increase, though in the
quantity o f American taken there has been a falling off, the respective amounts
being 825,412 bales in 1852, and 806,295 bales in 1853. The weekly average
consumption in Great Britain, for the first six months o f the current year, has
been 40,005 bales o f all kinds, against 39,683 bales for same period last year, and
the stock on hand in the United Kingdom, on the 1st July, 1853, was 986,300
bales, o f which 609,100 bales were American. Last year at the same time the
total stock was 717,200 bales, o f which 553,500 bales were American. W e have
no data for the consumption o f the Continent o f Europe for the first six months
o f the current year, but it is probable that it has somewhat exceeded the ratio o f
1852, when the consumption o f Europe (other than Great Britain) was put down
at 1,181,637 bales for the whole year, distributed as follows: France 476,660
bales, Russia 141,949, Hamburg and Bremen 127,535, Trieste 126,314, Holland
and Belgium 145,678, Spain 94,541. Other countries 68,950. The amount taken
for consumption in the whole o f Europe (including Great Britain) in 1852 is
stated at 3,077,712 bales. Add the consumption o f the United States in the
same period— say 650,000 bales— and we have a grand total, in round numbers,
of 3,728,000 bales as the apparent consumption o f the year 1852. The supply
for 1852 may be stated to have been as follow s:—
T r a d e a n d C o m m erce o f N e w O rlea n s in
1852- 3.
563
Stock in G-reat Britain....................... bales 494,600
93,713
“ on the Continent...............................
“ in United States ports..................... 128,000— 716,313
Crop of the United States.
Imports from Brazil..........
“
West Indies
“
“ Egypt..........
“
“ East Indies.
3,015,000
144,197
12,580
189,935
221,413—3,583,125
Total.
.bales
4,209,438
The ratio o f consumption for 1852, as we have already shown, has been some
what exceeded in Great Britain for the first six months o f the current year, and
the consumption o f the United States for 1853 may he safely put down as
700,000 bales, though not the whole of this quantity will have been taken out o f
the receipts at the ports.
W e append a table which exhibits the import, delivery, stock, etc., in the whole
o f Great Britain, for the first six months o f the current year, ended on the 30th
June last, and a comparison with the same period in 1852.
1851
1852.
Stock 1st January..........bales 657,520
Import for six months............ 1,324,730
494,600
1,401,363
2,182,250
Export six months 155,800
Consumption___ 1,040,150
Stock 30th June............
Weekly average taken
for consumption,
Taken on speculation.. .
1,195,950
986,300
1,895,963
147,000
1,031,763
1,178,763
717,200
40,005
39,683
400,890
372;410
As to the quality o f the last crop, the great bulk o f it was o f a low average,
and we had occasion frequently through the season to remark upon the unusually
wide difference in price between the lower and better grades, owing to the abun
dance o f the former and the comparative scarcity o f the latter. Clean, bright
Cottons, with good staple, have generally the advantage in demand, and it proba
bly would be to the interest o f the planters if more care were observed in the
gathering o f the crops.
With respect to the growing crop, we have to remark that up to this time the
accounts from the interior are, with some exceptions, favorable for a good yield,
should the picking season prove propitious. True, the crop is more backward
even than last year, and this will render it more liable to serious injury should
an early frost ensue, besides retarding the receipts, which are likely to be still
further impeded by causes growing out o f the prevalence o f the epidemic in our
midst, as it is altogether probable that the proprietors o f steamboats generally
will find it difficult, if not impossible, to make their arrangements for entering
upon the Cotton trade as promptly as heretofore. And, besides this, the presence
o f more or less fever at several o f the prominent river towns, which are leading
shipping points, is likely to deter planters from sending their crops in while their
servants would be exposed to disease that might prove fatal. Thus far, it will
be seen, the receipts o f the new crop show a large deficiency as compared with
last year.
The market prospects for the coming crop we conceive to be o f a favorable
character, for the consumption is likely to be adequate to the absorption o f any
probable extent o f production. This would seem to be evident from the course
o f the past two years; for within that period we have seen two successive crops
— the last the largest ever produced, and the two combined exceeding any two
564
Trade and Commerce o f New Orleans in 1852- 3.
previous crops by the important amount o f nearly a million an! a quarter of
bales, (the crops o f 1851 and 1852 together amount to about 6,240,000 bales)—
we have seen these two large crops more readily disposed o f than any previous
ones, and at prices which not only present a satisfactory average throughout but
which show a gradual though steady improvement (with some fluctuations, from
collateral causes) until the closing rates for the crop o f 1852, are nearly fifty per
cent higher than the opening ones for that o f 1851. W e have already shown
that the ratio o f consumption in Great Britain, for the first six months o f the
current year, has exceeded somewhat the ratio o f 1852; and should the political
questions which now agitate Europe be amicably arranged, and the world remain
at peace, such is the general prosperity o f the great consuming countries, that a
very ample crop is likely to meet a ready market, at satisfactory prices. At the
same time the increased facilities for its disposal, to which we have made refer
ence in our opening remarks, will give our own market peculiar advantages, all of
which will enure to the advantage o f the planter.
The first bale o f the new crop was received here on the 9th August, being
seven days later than the first receipt o f the previous year. It was from Texas,
was o f good color, and excellent staple, classed middling fair, and sold at the
fancy price o f 13 cents per lb. No further sale o f new crop has come to our
knowledge, and the total receipts thus far are only 74 bales, against 5,077 bales
to same time last year. At the moment the market is wholly without animation,
and the season closes with a stock in factors’ hands unsold estimated at 4,000
bales, and at the following nominal quotations:—
Inferior................................................................................... 6 f a 8
Ordinary to good ordinary........................................................ 8J a 9£
Low middling...................................................... ........................ 9 f a 10
Middling....................................................................................... 10J a lO f
Good middling............................................................................. 11 £ a I l f
Mixed Cotton, Ginning, &c. W e have repeatedly called the attention of
planters to the necessity o f more care in the packing o f cotton, so that the mix
ing o f different qualities in the same bale may be avoided, and we recur to the
subject again with increased earnestness, as the evil is a most vexatious one, and
is still constantly complained of, to the great detriment o f the trade. Another
evil, o f a graver character, is loudly complained of, and this is one which it be
hooves every honest planter and factor to discountenance and expose. W e allude
to false packing, which some parties are dishonest enough to resort to, with evi
dent view to defraud. In these cases the discovery o f the fraud is seldom made
until the bales are opened at the manufacturer’s mill, in most instances in some
foreign country, and then the factors have sent back upon them certificates and
reclamations, with their attendant vexations, disputations, and loss. So great has
this evil become that we have been specially addressed on the subject by a
respectable house at Manchester, England, from whose letter we make the fol
lowing extract: “ You would subserve the interest o f many parties if you would
call the planters’ attention to the injurious practice o f false packing o f cotton.
It has been carried to such an extent this season, particularly in the lower grades,
that spinners actually prefer buying East India cotton, as they yield less waste
than ordinary cotton o f American growth, with the false packing prevailing this
season.”
W e also had occasion in the early part o f the season to refer to a very gene
ral complaint about the manner in which cotton was ginned. A very large pro
portion of the early receipts were what is called “ napped,” which was supposed
to result from the cotton being ginned in a damp state, and with too much haste.
The result of this was considerable loss to the planter, as many a bale was
classed and sold as good middling or middling fair, that but for this defect would
have sold as fair or fully fair, at a difference o f i a i cent per pound. W e refer
to this subject again, as it may be worth the planters’ while to guard against a
recurrence o f the evil the present season.
The following tables, which have explanatory captions, we have compiled from
our records, under the impression that they would probably be found interesting
to parties engaged in the cotton trade :—
565
Trade and Commerce o f New Orleans in 1852- 3.
Season.
1 8 4 2 -4 3
1 8 4 3 -4 4
1 8 4 4 -4 5
1 8 4 5 -4 6
1 8 4 6 -4 7
1 8 4 7 -4 8
1 8 4 8 -4 9
1 8 4 9 -5 0
1 8 5 0 -5 1
1 8 5 1 -5 2
1 8 5 2 -5 3
Average Price
per Bale.
$27 00
32 00
24 00
32 00
4 4 00
29 00
27 00
5 0 00
49 00
34 00
41 00
Receipts at
New Orleans.
............ ...............
.............................
.............................
.............................
.............................
............................
.............................
.............................
.............................
.............................
.............................
.........
.........
.........
.........
........
........
........
........
........
.........
910,854
979,238
1,053,633
740,669
1,213,805
1,142,382
837,723
995,036
1,429,183
1 ,664,864
Total ten years..........
Total Value.
$29 ,42 0 ,3 3 4
29,147,328
23,501,712
33,716,256
3 2,689,436
35,200,345
20,8 44 ,3 1 4
4 1,886,150
58,7 56 ,7 6 4
4 8,592,222
6 8,2 59 ,4 2 4
$42 1 ,9 1 4 ,1 85
It will be seen by the above table that the cotton alone, sold in this market
within the past ten years, has yielded a gross product o f $421,914,185.
Date o f receipt
of first bale.
1842— July
1843— Aug.
1844— July
1845— “
1846— Aug.
1847— “
1848— “
1849— “
1850— “
1851—July
1851— Aug.
1852— Aug.
25___
1 7 ....
23___
30___
7 ___
9 ___
5 ___
7 ___
11___
25___
2 ___
9 ___
Recpts. new
crop to Sept. 1.
___
___
1,734
292
___
___
___
___
___
6,846
140
1,089
2,864
477
___
___
3,155
5,077
Total receipts at
New Orleans.
1842-43...............
1843-44 ...............
1844-45................
1845-46,...............
1846-47.. . . . ___
1847-48,...............
1848-49.
1849-50.
1850-51. .............
1851-52 ...............
1852-53,...............
1,075,394
850,342
954,285
1,041,893
707,324
1,188,733
950,220
1,429,183
1,664,864
Total crop o f
U. States.
2,378,875
2,030,409
2,394,503
2,100,537
1,778,651
2,347,634
2,728,596
2,096,706
2,355,257
3,015,029
*3,220,000
S u g a r . W e avail ourselves o f the valuable Annual Statement o f Mr. P. A.
Champomier for a portion o f our data under this head. By that publication it
appears that the total crop made in Louisiana in 1852, was 321,934 hogsheads,
thus exceeding the erop o f last year by 85,387 hhds., and showing the largest
crop ever produced in Louisiana, by an excess o f about 74,000 hhds. over any
previous one. This was the product o f 1,481 sugar houses, o f which 943 are
now worked by steam power, and 538 by horse power, and thd crop is classified
as 275,671 hhds. brown sugar, made by the old process, and 46,263 hhds. refined,
clarified, &c., including cistern bottoms, which last are computed at five per cent
on the product o f brown sugar. The weight o f the crop is computed at
368,129,000 pounds o f all sorts. Thus the crop o f 1852 has been shown to
have greatly exceeded the product o f any previous year, and we think it proved
larger than could reasonably have been expected, considering the damage to the
“ rattoons ” from the remarkably severe frosts o f the previous winter; but the
season proved unusually propitious for the “ plant cane,” and besides this, it was
all harvested without being injured by frost— a circumstance which contributed
to render the crop the best in quality, as well as the largest in quantity, that was
ever produced in Louisiana. It met with a ready sale also at an average o f
prices but slightly under that o f the previous year; and we do not remember
ever to have noticed a season that has been characterized by so continued an ac
tivity o f demand and so little fluctuation in prices.
The first receipts o f the new crop was two hogsheads on the 9th October,
which were classed fully foil', and sold at 6 cents per pound; but the market
could not be said to have fully opened until the latter part of the month, when
the range was about 4 f a 5% cents per lb. for fair to prime quality.
The following table, which exhibits the highest and lowest points in each*
* Estimated.
566 .
Trade and Commerce o f N ew Orleans in 1852- 3.
month for fair sugar on the levee, will indicate the general course o f the
m arket:—
Highest.
September .. . .lb.
October . . . . ........
November ..
December. . .
January........
February __ ........
Lowest.
5J a 6
5 a
4i a 4*
5J
44
3f
3£
3f
4
a
a
a
a
a
a
5f
5
44
4
44
4f
Highest.
March...........
April...............
M ay............... . . . .
J u n e .............
J u ly ...............
A ugust.........
34 a 44
Lowest.
Sf a
a3f a
34 a
3| a
4 a
44
4
34
34
44
There were sales to some extent on plantation in the middle and latter part o f
December, but in January the transactions were unusually large, both on W est
ern account and on speculation, the range for crops being from 34 a 4£ cents per
pound, according to quality. These large operations so reduced the supply in
planters’ hands, that they were induced to ask an advance, and there were some
sales o f choice crops in February at 4 f cents per lb.
The estimated stock on hand at the close o f last season was 3,000 hhds., and
this amount added to crop o f 321,934 hhds., would make a supply o f 324,934
hhds. The distribution o f this supply, as nearly as can be ascertained, has been
as follow s: Shipments to places out o f the State, as shown by our tables, and
including the exports from Attakapas, 95,000 hhds.; consumption o f the city
and neighborhood, 20,000 hhds.; taken for refining in city and State, including
cistern bottoms, 15,000 hhds.; stock now on hand in the State, estimated 8,000
hhds., leaving as the quantity taken for the West, 206,934 hhds., against 149,547
hhds. last year. The quantity shipped to Atlantic ports is 82,000 hhds., against
42,000 hhds. last year.
In addition to the supply furnished by our own State, there have been import
ed into this port since 1st September last, from Cuba 2,271 hhds., 27,087 boxes,
Brazil 665 cases, 19,964 bags, Manilla 8,112 bags. As was the case last year,
the whole o f the imports from Brazil and Manilla, and a large portion o f those
from Cuba, were for a St. Louis refinery. The crop o f Texas was about 12,000
hhds., and there were some 5,000 hhds. produced in Florida, about 1,500 hhds. o f
which came to this market.
With respect to the growing crop, all accounts concur in representing the
prospects as being very favorable up to this time; and should the season prove
as propitious for maturing and as favorable for gathering in as the last was, and
considering, at the same time, the increased cultivation, it would seem probable
that the yield may be such as to afford opportunity for testing the capacity o f
the physical force now engaged in the production o f sugar within the State o f
Louisiana. The liability to injury by frost, however, renders the crop a very un
certain one, and great fluctuations in the product will be shown by the annexed
table, which runs through a period o f twenty-three years:—
* 8 5 2 ..
1 85 1 .
1 8 5 0 ..
1 8 4 9 ..
1 8 4 8 ..
1847
Hhds.
..
3 21 ,93 4
. . . 236,647
..
211,203
..
247,923
..
220,000
..
240,000
1 84 0 .
1S39.
1838.
1837.
1 836.
1835.
...
...
...
...
...
...
Hhds.
87,000
115,000
70,000
65,000
70,000
30,000
1 8 4 6 ..
1 8 4 5 ..
1 8 4 4 ..
1 8 4 3 ..
1 8 4 2 ..
1 8 4 1 ..
..
..
..
..
..
..
Hhds.
140,000
186,650
200,000
100,000
140,000
90,000
Hhds.
1 8 3 4 -----1 8 3 3 ____
1 8 3 2 ____
1 8 2 9 ____
1 8 2 8 ____
1 0 0 ,0 0 0
7 5 ,0 0 0
70,000
4 8,0 00
88,000
M olasses . According to the data furnished by Mr. P. A. Champomier, who
again estimates the product o f Molasses as being an average o f seventy gallons
per hogshead of Sugar, the total crop o f Louisiana for the past year was
25,700,000 gallons against 18,300,000 gallons the year previous. This shows a
large increase over the product o f any previous year, but the increased demand
seems to have been adequate to its absorption, at a range o f prices which indi
cates only a slight falling off from the average rate o f last year, when the pro
duct was less by 7,400,000 gallons.
The first arrival o f new crop was on the 6th October, and the first sale o f any
importance was at 29 cents per gallon. The following table, which exhibits the
T r a d e a n d C om m erce o f N e w O rle a n s in
1852- 3.
567
highest and lowest points in each month, for lots on the Levee, in barrels, will
indicate the general course o f the market.
Sept, .cts per
Highest.
g a l . .1 8 a 28
O ct.............
N o v ..........
Dec............
Jan............
Feb............
.............. 21
a 25
Lowest.
16 a 28
25 a 26
23 a 234
16 a 22
17 a 22
20 a 244
Highest.
March............
April.............
May...............
Jun e. . . . . . . .
July............... ...........13 a 2 04
A u gust........ ...........13 a 20
Lowest.
12 a 21
12 a 20
15 a 21
11 a 2 0 4
11 a 19
13 a 20
The first sales noted on plantation took place about the middle o f November,
at 20 cents per gallon, which was the opening and the prevailing price o f the
previous year. The demand for the W est continued generally good through
the season, and prime crops were quite readily disposed o f at 19 a 20 cents per
gallon on the Coast, and 18 a 20 cents per gallon on Bayou Lafourche.
The quantity shipped to Atlantic ports, according to our tables, (which include
the exports direct from Atakapas,) is equal to about 3,700,000 gallons, against
2.700.000 gallons last year. This amount being deducted from the whole crop,
as estimated by Mr. Champomier, there would be left, for the W est and South,
22,000,000 gallons, against 15,000,000 gallons last year. Besides the crop o f
Louisiana, there have been some few hundred barrels received from Florida and
Texas, and about 1,200,000 gallons from Cuba, mostly “ Concentrated Molasses,”
imported on account o f a St. Louis Sugar Refinery.
T obacco.— The past season commenced with a stock on hand (including all on
shipboard not cleared) o f 18,831 birds., o f which quantity it was estimated that
only about 4,000 hhds. were immediately on sale, with some 6,000 or 8,000 more
held in second hands. At the same time the quotations were, for Lugs, factory,
3 a 3 f ; Planters’ ditto 34 a 44; Leaf, inferior to common, 4 f a 5 4 ; fair to fine
54- a 6; choice, selections 64 a 74 cents per pound, at which range o f prices the
market presented a quiet appearance. Very soon, however, quite a fair inquiry
sprung up for the lower grades, and also to some extent for choice selections,
and as the supply o f these descriptions was not adequate to the demand, the ad
vantage in prices was on the side o f holders, who by the 1st October had ob
tained an advance o f fully 1 per cent per pound on the lower grades, and 4 a f
cent per pound on the medium and finer qualities, the sales reported for the
month being about 4 500 hhds., and the quotations as follow s: Lugs, factory, 4 a
4 f ; Planters’ ditto 44 a 5 ; Leaf, inferior to common, 54 a 54; fair 5 f a 6 ; fine
64 a 6 4 ; choice selections 7 a 8 cents per pound. At. this juncture still more
firmness was imparted to the market by unfavorable accounts respecting the new
crop, and the prices obtained were very full, especially for Low Refused, the
supply o f which was inadequate to the demand, the stock on hand consisting
mainly o f Admitted. There was no further general advance, however, and quo
tations were the same as at the close o f September, with sales o f about 4,500
hhds., though the business would have been materially larger had the market af
forded the desired assortment. In November,the reported sales barely reached
2.000
hhds., the falling off not being attributable to want o f demand, but to the
absence o f an adequate supply o f the lower grades, which were much sought
after, and commanded unusually full rates, compared with other qualities. Early
in December additional supplies began to come forward more freely, and the
market soon presented a better assortment; but at this juncture freights took
such a rapid and extraordinary rise as to completely check all operations in the
Tobacco market, and for a period o f a month and a half not a sale o f importance
was reported, the stock all the while accumulating, and showing an excess of
nearly three hogsheads to one over any other year at the same period. Business
was reopened upon very irregular prices, and it was not until the close o f Janu
ary that we resumed quotations, which showed a reduction from previous figures
o f 4 a 4 cent per pound, the rates o f freight in the meantime having materially
declined. During February and March the market presented a very heavy ap
pearance, and but few sales were reported, though it was well understood that
508
Trade and Commerce o f N ew Orleans in 1852- 3.
transactions to a considerable extent took place, all particulars o f which were
suppressed. Prices, also, took a rather lower range for the inferior grades, which
had been previously strained to a relatively high point on account o f comparative
scarcity, though there was no marked general reduction, and the rates for the
finer qualities were quite fully sustained. In April the demand improved some
what, and continued fair during the greater part o f the month o f May, with im
proving prices, as holders were strengthened by favorable advices from Europe,
and by adverse accounts respecting the growing crop. The quotations at the
clcse o f May were for Lugs, factory
a 4 f ; Planters’ ditto 4 f a 5^; Leaf, infe
rior to common, 5 i a 5 f ; fair 6J a 6J-; fine 6 f a 7 ; choice selections 7 ia 8| cents
per pound. In June prices yielded slightly, for the inferior grades, but early in
July an advance o f £ a \ cent took place, under the influence o f an improved de
mand, which was coincident with further favorable advices from Europe, addi
tional accounts o f damage to the growing crop, and a withdrawal o f a portion o f
tlie stock from the market by order o f the planters. Under similar circumstances
a further advance o f i a cent per pound was realized about the middle o f July,
and our quotations at that period were for Lugs, factory, 5 a 5|; Planters’ ditto
54 a 6; Leaf, inferior to common, 6 i a 6 i ; fair 6| a 7 ; fine 7J a 7 f ; choice selec
tions 8£ a 9£ cents per pound. During the past month only a very limited busi
ness has been done in the article, the stock being mostly held out o f the market,
or at rates above the views o f purchasers, whose number, however, has been
very limited, as most o f the parties who usually operate in the article are absent
from the city. The market closes with a stock on hand, inclusive o f all on ship
board not cleared, o f 29,166 hhds., but the quantity immediately on sale amounts
to only a few hundred hhds., the great bulk of the stock in factors’ and specula
tors’ hands (estimated at about 24,000 hhds.) being held out o f market for the
present. The total receipts at this port, since 1st September, as shown by our
tables, are 75,010 hhds., which amount includes 10,050 hhds. Strips and 1,700
hhds. Stems. The quantity inspected since 1st September, is 53,199 hhds., o f
which 5,524 hhds. were Mason County.
As we have already stated, the total receipts at this port since 1st September
are 75,010 hhds., but in this amount it is estimated that there are included fully
25,000 hhds. o f the crop o f 1851, which had been kept back by low waters, & c .;
so that the apprehensions o f a reduced yield, referred to in our last Annual
Statement, are demonstrated to have been well founded. Besides this, the crop
has proved, on the average, to be very deficient in quality, as much of it was cut
early, to avoid frost, and thus a considerable portion was unmatured, while the
proportion o f fat, rich Tobacco, has been unusually small. The inferior descrip
tions o f Tobacco, however, (Lugs and Low Refused,) have generally met with
ready sale, the demand during a great part o f the time having run on those de
scriptions, and we have seldom or never known so little difference between the
prices o f Refused and the medium grades o f Admitted as has been shown by the
course of the market the past season.
With respect to the growing crop, all accounts concur in stating that it must
necessarily fall materially short o f the reduced crop o f last year, and the late ad
vance in prices has resulted mainly from the conviction that such will prove to
be the fact. What the actual product may be, however, is yet a matter o f entire
uncertainty, and we close our observations under this head with the remark that
it is estimated there are now in the interior some 15,000 hhds. o f the crop of 1852
to fall into the receipts o f the coming year.
W estern Produce.—O f the numerous valuable commodities embraced under
this head, in the nomenclature o f our market, we have space only for a brief re
view o f a few o f the most prominent articles.
Our tables show a material falling off in the supplies o f Breadstuffs, as com
pared with last year, but the average o f prices, though somewhat higher, has not
been correspondingly enhanced, as there has been but a moderate export demand,
while in the receipts o f Indian Corn there was included an unusually large pro
portion o f inferior quality, that could only be disposed o f at low prices, for dis
tilling purposes. The receipts o f Flour are 808,672 barrels, against 927,212 bar
Trade and Commerce o f N ew Orleans in 1852- 3.
I
569
rels last year, and o f Indian Corn they are equal to 2,750,000 bushels, against
3.750.000 bushels last year. The receipts of Wheat have been still less than
last year, having barely reached 96,000 bushels, a portion o f which was sold in
this market at 55 cents to $1 per bushel for inferior to choice. The receipts of
Corn Meal, which in 1847 reached 88,000 barrels, have dwindled down to the
trifling amount o f 1,788 barrels. The total exports o f Flour since 1st Septem
ber amount to 520,415 barrels, against 544,711 barrels last year. O f this quan
tity 170,569 barrels were shipped to Great Britain, 71,080 to the W est In
dies, &c., and the remainder to Coastwise ports. Of Indian Corn the total ex
ports have been equal to 2,170,009 bushels, against 2,182,000 bushels last year.
O f this quantity 759,000 bushels were shipped to Great Britain and Ireland,
75.00
to the W est Indies, &c., and the remainder to Coastwise ports. The
general course which the market for Breadstuffs has taken during the past season
is quite accurately indicated by the following tables, which exhibit the highest
and lowest points in each month for Flour and Corn, the range being according
to quality.
PRICES OF FLO U R.
Highest.
$3 95 a 4 374
4 05 a 4 30
4 65 a 4 80
5 00 a 5 25
5 00 a 6 00
4 65 a 4 85
4 10 a 4 374
3 90 a 4 20
4 374 a 4 55
4 60 a 4 80
6 00 a S 00
6 75 a 7 874
September
October....
November.
December.
January. . .
February..
March
April..........
M ay...........
J u n e ........
July...........
August . . .
Lowest.
83 90 a
3 95 a
4 20 a
4 30 a
4 50 a
3 874 a
3 80 a
3 85 a
3 90 a
4 00 a
4 65 a
5 20 a
4
4
4
4
5
4
4
4
4
4
4
6
25
25
374
60
25
374
25
00
124
30
90
50
PRICES OF CORN IN SACKS.
Highest.
September, .per bush. 58 a 63
October........................ 58 a 62
Novem ber................... 65 a 70
December.................... 55 a 60
January....................... 55 a 60
February..................... 42 a 54
Lowest.
52 a 58 March.............. .........
55 a 58 April.................
50 a 58 M a y ................. .........
43 a 47 June..................
42 a 54 J u l y ................. .........
36 a 48 August............
Highest.
Lowest.
35 a 47
34 a 43
34 a 45
42 a 50
45 a 52
50 a 60
58 a 65
48 a 55
66 a 75
The annexed table shows the exports o f breadstuffs from the United States
to Great Britain and Ireland, since 1st September, compared with the same pe
riod last year:—
Flour.................................................bbls.
Corn Meal................................................
Wheat.......................................................
Corn..........................................................
1858-S.
1851-2.
1,494,473
683
5,097,512
1,517,087
1,359,882
1,750
1,520,307
1,547,383
P o k e . The course o f the pork market presents the reverse o f that o f the
previous season— a course, according to our observation, that is not unusual in
successive years. Light stocks and greatly advanced prices at the close o f the
previous season, caused the market for hogs to open correspondingly high in the
West, and these high prices brought out an increased supply, which, as soon as
it was thrown upon the markets o f distribution and consumption, caused a con
stant downward tendency in the rates; a result which could not but be attended
with sei'ious losses to some parties.
B e e f . Beef has been well maintained, notwithstanding some increase in the
receipts, the rates having ruled high throughout the country. The following
tables are arranged to show the highest and lowest points in each month, and
they will thus indicate quite clearly the general course which the market has
taken during the past season:—
Trade and Commerce o f N ew Orleans in 1852- 3,
570
TRICES OF PORK.
MESS.
S e p t...
O c t .. . .
Nov___
Dec . . .
J a n .. . .
Feb . . .
March .
April.. .
May___
Jun e.. .
July ..
August.
PRIM E.
Highest.
Lowest.
Highest.
823 00 a . . . . $21 00 a $21 50 $18 25 a . .
20 00 a $21 00 16 00 a 16 75 16 00 a $16
19 00 a 19 50 16 00 a 16 50 17 00 a 17
18 50 a 19 50 17 00 a 17 60 17 00 a 17
17 25 a 18 00 16 25 a 17 25 16 00 a 16
16 GO a 16 50 15 00 a 15 75 14 50 a ■.
15 25 a 15 75 14 00 a 14 75 13 00 a 14
15 75 a 16 00 13 75 a 14 00 12 75 a 13
15 75 a 16 00 14 00 a 14 75 12 50 a 13
15 00 a 15 50 14 00 a 15 25 12 00 a 12
14 50 a 15 25 14 60 a 15 25 12 00 a 12
14 25 a 15 00 14 25 a 14 75 12 00 a 12
••
50
50
50
50
..
00
50
00
50
50
50
Lowest.
$18 00 a . . . .
15 75 a $16 50
15 75 a 16 25
16 00 a 16 25
15 00 a 15 50
13 50 a 14 00
12 00 a 12 75
11 00 a 12 00
12 00 a 12 50
11 00 a 12 00
11 75 a 12 50
12 00 a 12 50
PEICES OF BEEF.
MESS.
Sept. . .
O ct. . . .
Nov . . .
Dec . . .
Jan___
Feb . . .
March .
April . .
May.. . .
J u n e.. .
July . .
August..
PRIM E.
Lowest.
Lowest.
Highest.
Highest,
115 00 a $16 00 $14 50 a $15 00 $13 00 a $13 50 $13 00 a $13
14 50 a 16 00 14 00 a 15 00 13 00 a 13 50 12 50 a 13
14 00 a 14 50 13 00 a 14 00 12 50 a 13 00 11 50 a 12
12 50 a 14 00 12 00 a 13 50 11 00 a 12 00
9 50 a 10
13 00 a 14 00 13 00 a 13 50 10 00 a 11 50
9 50 a 10
13 50 a 14 50 13 00 a 14 00 11 00 a 12 00 11 00 a 12
13 00 a 14 00 13 00 a 14 00 11 00 a 12 00 11 00 a 12
13 00 a 14 00 12 50 a 13 50 11 50 a 12 00 11 00 a 11
13 00 a 14 00 12 50 a 13 50 11 50 a 12 00 11 00 a 11
14 00 a 14 50 13 00 a 14 00 11 00 a 11 50 11 00 a 11
15 00 a 15 50 14 00 a 14 50 11 00 a 11 50 11 00 a 11
15 00 a 15 50 15 00 a 15 50 11 00 a 11 50 11 00 a . .
50
00
50
50
50
00
00
50
50
50
50
..
L ard. While the receipts o f pork materially exceed those o f last year, the
arrivals o f lard barely reach an amount equal to that o f last season, and as the
demand has generally been fair, the average o f prices has been considerably
higher than that o f last year. The total exports since 1st September, (all pack
ages being reduced to kegs,) are equal to 723,996 kegs, against 792,543 kegs
last year. O f this quantity 245,653 kegs were exported to foreign ports, against
222,524 kegs last year. Great Britain taking 87,691 kegs, against 61,923 kegs
last year. The annexed table shows the highest and lowest points o f the market
in each month, the lowest figures being applicable to inferior in barrels, and the
highest to prime, in kegs.
PRICES OF LARD.
September .
October . . . .
N ovem ber..
Decem ber. .
January . . .
February . .
Highest.
10 a 13
10 a H i
10 a 1 H
11 a 13
n a Hf
9 a 10f
Lowest.
10 a 1H
91 a H i
91 a a
91 a h i
9 a 101
8 a 10
March........
A pril........ .
M ay...........
J u n e .........
J u ly ......... .
August . . .
Highest.
8 a 10
81 a 11
HI
Hf
10 a I l f
10 a I l f
Lowest.
8 a 10
8 a
9f
8 a 11
8 a Hf
8 a Hf
10 a H i
Coffee. This article continues to maintain its position as the leading one of
our foreign commodities, though the imports for the year ended on the 31st
August show a slight falling off, as compared with the year previous. The an
nexed table presents a comparison o f the direct imports into this port for the
past ten years:—
1 8 4 4 ..........
1 8 4 5 ..........
1 8 4 6 ..........
1 S 4 7 ..........
1 8 4 8 ..........
From
From Cuba,
Rio de Janeiro. Laguyra, &c.
161,082
52,857
4 ,0 9 4
10,899
215,031
43,931
8,590
1 8 4 9 ..........
1 8 5 0 ..........
1 8 5 1 ..........
1 8 5 2 ..........
1 8 5 3 ..........
From
From Cuba,
Rio de Janeiro. Laguyra, &c.
299 ,12 9
16,341
225,013
20,627
10,367
12,525
10,812
Trade and Commerce o f New Orleans in 1852- 3.
511
With regard to the course of the market, we find it characterized by even more
steadiness than was apparent last year, the extreme fluctuations for good quality
Rio being 8J a 9J cents per pound, the lowest in October, and the highest in
February. The following table which we copy from the annual circular o f Mr.
H. T. Lonsdale, coffee broker, shows the monthly sales and average prices for
the year ended July 1st, 1853. By this, it will be seen that the average price o f
the season for good quality Rio coffee has been 8.95 cents per pound, while last
year it was 8.60, and the year before 10.18.
SALES AND AVERAGE PRICES OF RIO COFFEE FOR PAST Y E AR.
1852.
1851
Bags.
July.......................
August..................
September............
October ................
November..............
December..............
Bags.
Price.
8.74
8.52
8.45
8.45
S.80
9.09
January ...............
February............
March...................
April....................
May.....................
Ju n e...................
Price.
..........
..........
39,363
61,275
..........
..........
24,165
22,695
9
9.33
9.12
9
8.91
8.72
391,594
8.95
The above sales iuclude transactions from importers’ and speculators’ hands,
and considerably exceed the quantity taken for consumption.
The following table shows the imports, stock, etc.:—
Estimated stock out of grocers’ hands on 1st September, 1852, of all
kinds........................
bags.
Imports direct from—
Rio de Janeiro.......................................................................
338,412
Cuba, Laguyra, e t c .............................................................
10,812
Received coastwise for sale (estimated)......................................................
349,224
26,000
Making a supply o f .....................................................................................
Total supply last year.................................................................................
410,224
425,141
Decrease this year...........................................................................
14,917
35,000
In the imports o f the year there is a decrease o f 45,907 bags, v iz : from Rio
direct 15,204, from Cuba, etc., 1,713, and coastwise for sale 29,000. The pres
ent stock o f all kinds, out o f grocers’ hands, is estimated at 75,000 bags, and
this amount being deducted from the supply would leave 335,224 bags as the
quantity taken for the consumption o f the West and South, against 390,141 bags
last year, or 54,917 bags less taken from this market. The sales for consump
tion throughout the United States, however, show a marked increase, the esti
mate for this year being 966,000 bags, against 845,000 bags last year, or an in
crease o f 121,000 bags. The stock o f Rio coffee, in all the importing ports o f
the United States, on the 1st o f July, 1853, was estimated at 230,000 bags, or
an excess o f 100,000 bags over the same period last year.
The total exports from Rio de Janeiro for the crop year ended 30th June last,
were 1,880,388 bags, against 1,881,559 bags the year previous. O f this quan
tity the United States have taken 851,616 bags, against 952,498 bags last year,
distributed as follow s:—
Hew York..................... bags.
Hew Orleans.
................
Baltimore.............................
Philadelphia.........................
260,897
260,162
251,857
53,688
I Boston..........................bags.
| Charleston....................... ..
I Mobile...................................
|Savannah....................... . . .
11,218
8,015
3,600
2,180
The stock on hand at Rio, on the 30th June, was 60,000 bags.
A writer in Hunts Merchants' Magazine furnishes the following interesting
statistics o f the supply and consumption o f Coffee.*
* For these statistics, &c., which the Price Current has introduced under this head, the reader is
referred to the article “ C o f f e e : It s P r o d u c t io n a n d C o n s u m p t io n ,” in the number o f the JMer
chants' Magazine for August, 1853, present volume.
572
Trade and Commerce o f New Orleans in 1852- 3.
Lead And Hemp. These articles have ceased to be o f importance in this
market, as nearly the whole receipts are sent forward to the North without ever
being offered for sale here. In Lead there have been no transactions o f conse
quence during the past season, and the supply has been still further reduced, the
receipts since 1st September being only 210,287 pigs, which is the smallest
quantity since 1833-4. Only a few limited sales took place in our market, at
$8 00 per 100 pounds, in March, for upper mines, $5 75 in May, for lower
mines, and $6 go in July, for upper mines. The total exports since 1st Sep
tember are 212,253 pigs against 256,939 pigs last year. In Hemp the only con
siderable sale reported was 161 bales dew rotted, in April, at §100 per ton. The
exports since 1st September are 13,463 bales, distributed as follow s:—
Boston.........................b a les.
New York...............................
7,010 I Philadelphia........................bales.
5,534 | Charleston ...................................
835
84
Freights. The fluctuations in the freight market have been much greater
than last year, and the general average o f rates has been considerably higher,
they having reached, in December, the unusually high figure o f Id. per pound
for cotton to Liverpool. The highest and lowest points in each month for cot
ton to Liverpool are indicated in the following table:—
Highest.
Septem ber....................................................
October..........................................................
November......................................................
December.......................................................
January..........................................................
February........................................................
March.............................................................
April ............................................................
M ay................................................................
J u n e ..............................................................
July................................................................
August............................................................
£
£
£
11-16
£
£
11-16
9-16
£
9-16
7-16
£
a
a
a
a
a
a
a
a
a
a
a
a
Lowest.
. . d.
..
11-16
f
11-16
13-16
£
19-32
..
..
..
..
f
15-32
15-32
15-16
9-16
19-32
9-16
£
£
7-16
13-32
7-16
a
a
a
a
a
a
a
a
a
a
a
a
..d .
£
£
1
19-32
£
19-32
7-16
7-16
£
7-16
..
The total number o f arrivals from sea since 1st September is 2,364, v iz : 782
ships, 244 steamships, 447 barks, 295 brigs, 596 schooners; and the entries at
the custom-house for the year ended 30th June, 1853, were as follow s: whole
number o f vessels 2,383, tonnage 986,975. The increase compared with last
year is 117 vessels, and 76,119 tons. Included in the arrivals are 432 foreign
vessels from foreign ports, with a total measurement o f 197,932 tons. This is
an increase on last year o f 20 vessels and 12,546 tons.
Exchange. There have been no great fluctuations in the exchange market
during the past season, as will be seen on reference to the annexed table, which
exhibits the highest and lowest points in each month for sterling bills, and for
sixty days’ bills on New York. These figures are intended to represent the pre
vailing range o f the market, though there have probably been, at most periods,
some transactions at rates both above and below them.
September..................
October.......................
N ovem ber.................
December...................
January .....................
F ebruary...................
March..........................
A pril...........................
May . . . . , .............
J u n e ...........................
J u l y ...........................
August........................
______
...........
..........
...........
...........
...........
,-------- —STER LING ----- ----- ,
Highest.
Lowest.
premium.
premium.
10£
8| a 9£
8 a 8£
8f a 9*
8£
7£ a 8£
8 a Si
8£ a 9
7 f a S£
7£ a 8
9 a 9f
7J a 8£
8 a 8i
9£
S£ a 9 f
8£ a 9
8 f a 9£
8£ a 9 *
10
9 a 91
8£ a n
9£
9|
9
a
,— NEVT YORK
Highest.
discount.
1 a n
1£ a 2
2£ a 2£
2£ a 2 f
2 a 2*
1i a Hr
1£ a I f
I f a i£
1£ a H
If a H
1£ a i f
1£ a i f
60
DAYS— \
Lowest.
discount.
1£ a 2
2£ a 2|
2£ a 2£
2£ a 2£
2 i a 2£
2 a 2£
If a 2
1£ a I f
I f a 1£
1* a I f
l i a If
1£ a I f
Traits o f Trade— Laudable and Iniquitous.
573
V a l u e of E x p o r t s . According to the custom-house records, which we have
been accustomed to publish in our annual statement, it would appear that the
total export o f merchandise, o f the growth, produce, and manufactures o f the
United States, from the district of New Orleans, for the year ended June 30th,
1853, was o f the value o f $98,459,252, and that the export o f foreign merchan
dise for the same period was o f the value o f $523,974, making a grand total of
$98,983,326.
O f this amount $68,292,700 was to foreign countries, and
$30,695,526 to coastwise ports. Last year the total exports were $76,389,349,
o f which amount $48,076,179 was to foreign ports, and $28,268,327 coastwise.
These figures show an increase over last year o f $22,114,683 in the export o f
American produce, and o f $479,194 in the export o f foreign products— total in
crease $22,593,877.
Art. IV ,— TRAITS OF TRADE— LAUDABLE AND INIQUITOUS.
CHAPTER
X I.
WHAT TRADE IS NOW DOING.
T h e greatest evil that has ever cursed the world is war. It has rendered
populous countries desolate; it has overthrown magnificent cities which re
quired the labors o f centuries to bu ild ; it has obstructed the great thorough
fares o f Commerce and usurped the marts o f trade. The cost to the world
of such wholesale destruction o f property, and the enormous butchery, is be
yond the power o f figures to express. Trade calculates the cost,' and turns a
keen eye to the profits o f all transactions; and never have its capacities been
exercised upon any subject so thoroughly as upon the subject o f war. Men
are wanted for all the great industrial processes o f life, and to fill the waste
places o f the earth— why then allow them to be murdered by thousands ?
The world’s products are wanted to feed, clothe, shelter, and educate hu
manity, why then suffer the destruction o f the means which would contrib
ute the necessaries and luxuries o f life to so many ? The highways o f lands
and oceans are wanted by the caravans and fleets o f trade; and these are
now becoming so extensive and so powerful, that the minions o f war must
give place.
Slavery is yet dragging its darkened curse over some o f the nations.
Human heings have been torn from their homes, borne away for thousands
o f miles, and chained to servitude. If outraged humanity yet gropes for a
ray o f happiness in the shape o f the loves o f husband, wife, or child, these
must be extinguished, and the fugitives borne away to exist in loneliness
and die like brutes. Ranting abolitionism will be of no avail, unless its ef
fect is to rivet stronger the horrid chains. Religion, morality, may some
what soften the poor slave’s fate, but seldom will they set him free. The
laws o f nations recognize no right for the slave— he is passed by as goods
and chattels, while the powers that be chant their peans o f freedom in words
o f falsehood and insult. But, courage, ye enslaved and down-trodden !
Courage ! There are principles now actively at work that will dissolve the
adamant that binds your limbs, and obliterate the stigma which has been
borne through so many centuries o f suffering and oppression. The increased
activity o f the world not only demands every ingenious contrivance to some
manual labor, but it requires activity and skill in all its labors. Men en
slaved will not acquire these qualities, neither can the task-master wrench
from their servitude one half the individual energy that hope and happiness
inspire in the free man. Thus will slavery in no far off future be o f no avail.
574
Traits o f Trade— Laudable and Iniquitous.
The slave’s very worthlessness will set him free, to take his place in the
ranks o f progressive laboring humanity. This is one of the beneficent effects
o f trade.
The poverty o f large classes o f people in the world could not be depicted
in colors sufficiently somber to express the truth. G o to the work-houses,
go to the retreats o f benevolence, go to the hovels o f prostitution, go to the
streets o f cities, and listen to the wails o f w ant! Behold what a change may
be wrought h ere! The quickened industry caused by the mighty activity
» o f trade, furnishes work, and work supplies bread. The Californias, Australias, and Siberias, are rendering available the very misery and want, and
charity will ere long be necessitated to g o a-begging for recipients o f its
gifts.
W h at a dark shade has ever been cast upon humanity by crim e! The
statutes o f every civilized land recognize the dreadful fact by the fearful
penalties annexed to such offences. The prisons, the dungeons, the places
o f execution, all testify to the appalling extent o f crime. H ow much o f this
work, seemingly o f incarnate demons, has been caused or suggested by des
titution ? Is it not to be believed, that there is to be less crime in the world ?
W ill it not be the free choice o f men to labor and live rather than to com
mit crime and die ?
This may appear a summary manner o f disposing o f the great evils o f the
world ; yet a careful study o f the history o f the past, and a thoughtful sur
vey o f the present, will furnish sufficient evidence o f the assertions here
made. W h en brute force was the principal action o f the world, and when
agriculture was the main occupation, the intercourse o f men and o f nations
was by invasion o f each other’s territories. Travel was merely for predatory
incursion. If ideas were exchanged, if national policy was discussed, if re
ligion was talked about, this work was done at the cannon’s mouth, with
the capture o f prisoners and the capitulation o f cities. The only emigration
was that o f the precipitation o f barbarou.s hordes from the mountains down
upon the plains o f civilization. I f diplomatists learned languages or studied
foreign literature, it was the better to understand the rival they would hum
ble or the people they would overthrow. The intense nationality, the ex
clusive policies, the isolated character, in the days when the roads ended at
national boundaries, perhaps could not have been broken up in any other
way than by the fierce passions o f men let loose in desperate war. But
when a commingling o f races had established something like a common
standard o f intellectual and moral judgm ent; when by an acquaintance with
each, common appetites and tastes were discovered, it was then that Com
merce assumed its legitimate sphere, and took on a universal character.
W ith the growth o f Commerce it can be seen how war has lost its impor
tance, and will hereafter become impossible. Commerce is essentially in
tellectual in all its operations. W a r is the opposite. The more degraded
a soldiery the easier it can be agglomerated, and controlled by one head,
and moved towards one end. In this way have kings and aristocracies been
made. In this way tyrants have acquired their power to enslave those they
have been accustomed to command. Commerce acknowledges no head.
It is a disintegrated collection o f independent men, each laboring on his
own judgment, and with his owto faculties for the accomplishment o f his
own end. Commerce discriminates, harmonizes, and moves on in its endless
mission o f good to the whole world. It is in' the midst o f a silent social
revolution, such as the wisest men who have lived could not have foretold.
Traits o f Trade— Laudable and Iniquitous.
b ib
The progress o f experimental science, the free intercourse o f nation with na
tion, the unrestricted influx o f commodities from countries where they' are
cheap, and the unrestricted influx o f labor towards countries where it is dear,
and the ever free association o f men with men, are the active elements at
work in this general revolution o f the nations.
C H A P T E R X II.
WHAT TRADE HAS YET TO DO.
Still vigorously presses on the genius o f trade. Its miraculous proceedings,
its successful accomplishments, are o f small account, in view o f the vast la
bors yet to be performed. Upon the broad map o f the world are portions
o f continents lying in the gloom o f barbarism, and islands scarcely yet dis
covered. On the chart unknown lands are faintly shadowed at their shores,
and unknown seas left blank. Nations are hedged in by their isolated ex
clusiveness and men are starving in the midst o f plenty. But such a firm
hold has been taken that now it may be considered that progress is sure.
In our own country a railroad will, before many years, stretch westward
from the Atlantic to the Pacific ocean. Two thousand miles o f a virgin soil
upon this great highway o f the nations will be thrown open to the impover
ished of the world. Towns, villages, cities, states, will spring up in this vast
wilderness. Tadmor the ancient in the desert, with all its grandeur, shall
be as a faint type o f what can be reared upon the broad prairies o f the
W est, by the wealth and enterprise of. the New W orld. The slow-moving
caravan, upon the parched sands and amid the simooms, occasionally ap
pearing and disappearing in this city, made it the wonder o f the w orld !
W h at may we not expect, when one continuous train o f gold, provisions, and
manufactures, shall fly with the speed o f the wind, and be scattered along
this general highway o f the nations 1
The empire o f Japan has heretofore been o f too little importance for a
passing thought. It is now in the direct route from our country to the
East, or rather to the W est by the shorter way. A friendly intercouse must
be bad with its people, for the benefit o f the whalemen and the merchant
ships. A n exhibition o f our national power, a sample o f our industry, and
an offer o f friendly intercourse, will doubtless open the ports o f a people
who have heretofore been as little known as if they had occupied a part of
the moon.
Are there any adjacent lands whose policies interfere with the free course
o f trade, Commerce will annex them to our own government— not with the
implements o f war in fierce strife, but by the peaceful payment o f dollars
and cents.
Is a passage to be discovered in the regions o f the Pole, or has a distin
guished adventurer lost his way, there are merchant-ships tendered for his
rescue, and merchants’ money furnished to find and sail them.
Consider the daring deeds o f Commerce by England. W hat a world o f
wealth has been opened in the E ast! Tribes o f nations ever at war with
each other had covered the land with carnage. N ow behold the same tribes
settled down to peaceful industry, having literally beat their weapons o f war
into implements o f agriculture. The suppression o f the slave-trade is the
wish of Com m erce; and the time will soon come when no slaveship can
trust itself at sea.
IIow little has heretofore been known o f many countries. Take even
South America. There is the large empire o f Brazil. “ The Amazon, with
576
Traits o f Trade— Laudable and Iniquitous.
its tributaries,” says Maury, “ is said to afford an inland navigation, up and
down, o f not less than seventy thousand miles. The country drained by
that river, and the water-courses connected with it, is more than half as large
as Europe, and is thought to contain as much arable land within it as is to
be found in that country. It has resources enough to maintain a popula
tion o f hundreds o f millions o f souls.” Only consider this valley o f the
Amazon. Here we have the grandest river in the world, a river to which
the Mississippi cannot compare, stretching directly under the Equator, and
as productive as we imagine it could be from a union between the noonday
sun and the boundless amount of the fertilizing waters. Here are six times
the area o f France, occupied by the most valuable dyewoods. The banana
itself is an invaluable product. Its yield when compared with other plants
is prodigious, being to wheat as one hundred and thirty-three to one, and to
potatoes as forty-four to one. Para is the rich province of Brazil. A Bra
zilian said to Kidder, an agent for a Bible Society, and the author of
“ Sketches o f Brazil,” “ A h ! what would not Para be if it were in the hands
o f those North Americans.”
It matters little in whose hands is Para, or any other fertile portion o f the
earth, for it will be reached by Commerce, and its wealth distributed to the
world.
As wonderfully fertile as the country o f the Amazon is said to be, it is
probably equaled by parts o f Africa and Hindostan, that are now unknown.
These discoveries are to be the work o f Commerce.
Some years since a New Bedford whaleman put in to an island in the
Northern Pacific for water, and we can imagine the astonishment o f the
crew in discovering thereon, the ruins o f a vast city o f most elaborate archi
tecture. W hen and by whom those labors were performed no one can tell,
but the chance discovery was made by Commerce.
The insinuations o f trade are shaking and undermining the time-honored
hoary political evils o f the old world. The voice o f the people, whose inter
ests have been wrongfully withheld from them, will be eventually heard ?
There is a going forth and a returning with new light and life. W h en men
traveled by the old slow modes o f conveyance, they were subjected to hin
drance and aggravation by the restrictions imposed upon them. Railroads
have rendered passports of about as much value as so much waste paper.
Over the lands o f Italy towards Rome, where centuries ago Emperors led
forth their armed hosts to conquest, and where enslaved nations followed
them in their return, in the midst of scenes glowing with classical associa
tions, are now placed the iron roads over which rush the locomotives o f
traffic. The shrill whistle shall startle the unclean animals which burrow
in the gigantic ruins of the past, and the thundering cars shall shake these
ruins to the earth. This innovation disturbs the sacred grandeur in which
the land is w rapt; and it is well, for the dead past has too long been idol
ized. It is now' time to look forward. Thus would Commerce annihilate
the traces of tyranny and servitude, and introduce its own invaluable fruits.
The world is filled with enterprise and adventure. Fleets o f ships and
steamers scour the seas, and penetrate unknown regions in search of new
lands. Thus is the genius of trade destined to move onward ever; clearing
away the clouds and darkness o f barbarism, overturning the barriers o f po
litical wrongs— renovating the earth. Thus shall it proceed until all the
nations of the world shall be bound by interest and friendship, in one vast
bond o f universal brotherhood.
M oney and the Measure o f Value.
577
Art. V.— MONEY AND THE MEASURE OF VALUE.
To F r e e m a n H unt, Editor o f the Merchants’ Magazine.
S ir :— M uch has been said upon this poin t o f political econ om y o f late,
both b y professors o f the science and others, and yet w ithout com in g to any
satisfactory conclusion.
Much diversity o f opinion exists, so that few writers hold any two propo
sitions in common with each other; except, probably, that most o f them
agree that the present system is a great and increasing evil. Some are so
wedded to the present system, however, that they have considered currency
and banking indissolubly bound to each other, and have written with the
hope o f continuing and perfecting the present system. Others, o f acknowl
edged ability and talent, have extended their views beyond the present sys
tem, and have entered upon almost forbidden ground, having .gone so far as
to recommend an inconvertible paper currency as a vast improvement upon
the present. It is singular, however, that after so much writing upon the
subject, so little progress has been made. Nevertheless, one thing we may
consider settled— that if money be increased beyond the effectual demand,
like grain or any other commodity, it will depreciate in price. W hen we
look at the varied experience o f the world, this holds true, whether we take
into consideration the inconvertible issues o f governments, the more recent
issues o f joint stock banks, or even the influx o f the precious metals from
California and Australia. Many writers still appear to treat money exclu
sively as capital, instead o f admitting it to be, to a great extent, the mere
measure o f value, by which all commodities pass from the hand o f the pro
ducer to that o f the consumer. Some have made the mistake o f supposing
that it is only the representative o f value, or that the measure o f value and
the mere representative could possibly be one and the same thing. But
that is not the case. If a commodity be o f such universal estimation, that
it will pass from hand to hand in liquidation of debt, from one end o f the
world to the other, without recourse upon future contingencies, it must also
be an equivalent, whether it be a yoke o f oxen or a pfiece o f silver. But, no
doubt, the relative value of this commodity would be materially changed by
its being made the universal medium or measure o f value. There would
be an increased and steady demand for it under all circumstances, and a
consequent increase in its value to some extent, notwithstanding, after its
circulation had become general, this principle would again be neutralized,
on account o f the slowness o f its consumption, and it would be more liable
to depreciate than otherwise.
But hitherto I have only alluded to the precious metals, as though they
had been left untrammeled to find their relative value among other com
modities ; but the case has been widely different. The public have been
put to great expense and inconvenience by the efforts o f governments to
regulate their value, and the majority no doubt have been constantly de
frauded by these efforts. Although all governments have ceased long since
to attempt to fix the price o f any other commodity as being perfectly futile,
they still continue to regulate the price o f the precious metals. Thus at a
time like the present, when we have such a large and continuous increase
of those commodities, all debts, all contracts, and all labor, must be paid
for at the government price, however the value o f the precious metals may
VOL. XXIX.— NO. V .
’
37
578
M o n e y a n d the M e a s u r e o f V a lu e .
have changed in relation to other things since those debts, contracts, and
agreements had been made.
But, it will be asked, W here is the remedy ? Let the governments o f
the day begin earnestly to mind their own business, and to let that o f the
people alone. It is their business to see that the people are not defrauded,
and have not the means o f legally defrauding each other. Let the govern
ments still assay the precious metals, but let them stamp them according to
weight, affixing no price upon them, but leaving them free to find their rel
ative value among other commodities, according to the principle o f supply
and demand. There would then be no material fluctuation in prices— all
commodities would be on the same footing, the producers having no advan
tage over each other, and prices never increasing except in cases where the
facilities o f production were decreased. The dollar might still be the nomi
nal sum or unit, by which the relative value o f all commodities could be
measured, and when the precious metals were required, they would be paid
and received -at the market price. Very little inconvenience would arise
from this, as it would soon be understood by all classes; and all payments
would be made according to the last rate of exchange. This is continually
practiced in Switzerland and some o f the small States o f Germany, who
have no large coins o f their own ; the money o f other States pass current
at the last Frankfort rate, measured, o f course, by their unit, or nominal
sum, the guilder, or florin, as the case may be.
To admit o f this, the whole monetary system must be altered and revised
— but then something must shortly be done, if gold continues to increase
at the present rate; and we had better make a perfect and radical change
at once, than to be continually under the necessity o f changing; than which
nothing can be worse in a commercial point o f view. A subsidiary cur
rency would be necessary, the payments o f which should be limited to small
sums. The Federal Government should issue the paper required, in notes
not less than twenty-five dollars, the plates for which should be executed in
the most superior manner— full o f the most exquisite workmanship, and
printed upon a peculiar kind o f paper made for the purpose. This, at least
to a great extent, would prevent forgeries; and if it were made a legal
tender for debts and taxes, it would circulate throughout the country with
out discount, which would be a great saving and convenience.
N o doubt this will be objected to, both by interested parties and parties
always jealous o f centralizing power. To the first it may be said, that ac
cording to the Constitution, the money making power resides exclusively in
the Federal Government, and ought never to have been exercised by any
other authority. The present system is a gross monopoly in the hands o f a
few interested parties, the profits o f which belong to the whole people, and
would not be submitted to, if they really understood their own interests.
Every note issued by a banker that is not represented by the amount in
specie, is so much taken out o f the pockets o f the people. A nd yet it is
often said that the banker cannot get any profit if he is obliged to keep a
large amount o f specie by him, as though they had a right to a double profit,
when other people are obliged to be content with a single one. I f bankers
must lend money, let them lend their own and not that of the people,
taken out o f their pockets without their knowledge by ignorant legisla
tion.
The present is a gross system o f taxation for the benefit o f a few, and
therefore ought not to be submitted to. If it were abolished and a Federal
M oney and the Measure o f Value.
579
currency instituted, such as has been indicated, the money at present in the
hands o f the bankers, would be collected into the treasury to pay the debts
and bear the expenses of the nation. This proposition will also be received
with distrust by parties not otherwise interested than in the general welfare.
The frauds o f the despotic governments o f Europe, as well as the fate o f
our own continental money, is not quite forgotten. But surely public faith
and public credit have somewhat improved within the last half century, in
spite o f a few individual repudiations ? I f the Federal Government, at the
present enlightened era, cannot be trusted with the most vital interests o f
the people, we must proclaim our Republic a sham. It is true, that most
o f the irresponsible governments o f Europe have betrayed the interests o f
the people by means o f inconvertible paper money ; but our case is so ob
viously different, that such fears and objections can have no weight. W e
therefore dismiss them at once with the unhesitating assertion, that in future
no responsible government will ever commit so flagrant a breach of faith, as
well as so consummate a folly, as the fraudulent issue o f inconvertible
paper.
W ith regard to the present system o f currency, many o f its evils are of
such a nature that they can hardly escape the observation o f the most inat
tentive ; the great and increasing number of banks, the infinite variety of
plates, the lack o f any peculiarity in the paper, or o f any rule by which for
geries can be detected, and many other circumstances, entail great loss upon
the public. These evils are great, especially in the Western States, and
their pressure is without intermission. The moment an individual presents
a bank-note at the counter o f a ret nil dealer, he is off to the desk to obtain
the detector, and from five to ten minutes may be consumed in deciding
whether the note be good or b a d ; and then he may decide wrong, and too
often he loses the whole o f his labor, because his customer has no other
money. Thus half the time o f the merchant may be taken up about that
which would cost next to nothing with a good currency.
But there are other evils belonging to the present system almost too n o
torious to require even a statement. The great losses and frauds occasioned
by the reckless over issues o f the banks, for their own interests alone, regard
less o f that o f the public— directors withdrawing the capital they had ad
vanced as a pledge for the security o f their issues, and the periodic panics
which have hitherto appeared more or less inseparable from the system,
from its first institution,— these are acknowledged evils. It is to destroy
these evils that most writers, o f late, have directed their efforts, and they
must also be the apology for the presentation o f my humble opinions.
There are, no doubt, many honorable men, and men o f large capital, en
gaged in the business o f banking; but there are also many men o f small
capital, mere speculators, who enter the business with the intention o f taking
all advantages to make money.
But I must turn to another part o f the subject. Many writers who have
put forth their opinions, and to some extent taken the same ground as my
self, have, in support of these opinions, put forth the greatest fallacies.
Some who have advocated the issue o f inconvertible paper money, have
thought it necessary to require some specific guaranty for its redemption, as
the moitgage o f land or the pledge of State stocks, leaving it open for every
individual to demand as much of this money as he could give security for
— forgetting, apparently, that in times o f scarcity every new emission would
but increase the evil. Another gentleman who advocates the same system,
580
M oney and the Measure o f Value.
holds that no guaranty is necessary, “ that the value o f money is a value
sui generis, independent o f the value of the material of which it is made,
or o f the guaranties by which it is s e c u r e d b u t , nevertheless, admits it
to be subject to the law o f supply and demand, the same as any other com
modity.
Now, if the above proposition were true, the law o f supply and demand
could not affect it. But it is simply because it is not true, that the law of
supply and demand does affect it. Therefore, money must be dependent
f o r its value upon one o f two things: eitheir upon the value o f the material
o f which it is made, or upon the guaranties by which it is secured. The
simple difference between money (o f paper) and bank-notes is this : that
one is an equivalent, and the other is the promise o f one. Therefore, one is
good or bad, as the promise is likely to be redeemed, or otherwise; and the
other is good for the face of it, so long as the supply is not more than equal
to the purposes for which it was guarantied by the law, and is as much an
equivalent for the time being as coin, bullion, or any other commodity. To
support the view he has taken, M. Chitti has slightly twisted, or extended,
the obvious meanihg o f the word wealth.* H e says : “ True wealth is the
possession o f things adapted to the satisfying o f our wants. If all things
were given us in such abundance that they might be used without exhaust
ing the supply, as is the case with air, light, electricity, we should be im
mensely rich, and yet should not possess one cent o f value.”
Now, I must object to this reasoning. That, under these circumstances,
we should possess no value, is very tru e: but the words wealth and pov
erty would have no m eaning; therefore I must stick to the old economists.
I believe that wealth and value are nearly related. A person cannot be
wealthy without possessing a large quantity o f value. Value, therefore, is
not an abstraction, but a concrete quantity o f labor or sacrifices, which can
be measured in relation to other quantities o f labor or sacrifices. It is not
the mere relation between things given and things received, but the relation
o f the amount o f labor in each. But, it will be asked, W h y do the rela
tions of things vary ? Simply because the labor o f man is not uniformly
productive, while his wants remain constantly the same. The inconstancy
o f seasons and the ingenuity o f man, are the only necessary causes o f varia
tions in value.
Labor, then, is the foundation o f all value, notwithstanding the frequent
unnecessary oscillations o f supply and demand. Supply and demand can
have no relation to things which have not value; that is, things one of
whose constituent parts is not labor, such as air, light, electricity. It is
precisely, then, because the value of money depends upon the amount o f
labor it represents, that the law o f supply and demand affects it, and not
otherwise.
Mouey must either have an intrinsic value, with an unlimited circulation,
or it must have (so to speak) a prescriptive value, equally absolute, depend
ent upon the circumstances of its condition. If an individual offered a
merchant his note at sixty or ninety days, for an article the merchant had
to sell, would he take the note if it had no value ?— that is, unless the char
acter and standing o f the man, or the law, or all combined together, guaran
tied that he should be paid in full, in some useful commodity, when the
note came to maturity? Certainly not. So must inconvertible paper money
* V o l. x x v i., page 47, M e r c h a n t s ' M a g a z i n e .
M oney and the Measure o f Value.
581
present a guarantied value, the conditions o f which must not be violated, or
its value will depreciate accordingly. Thus, if the United States govern
ment were to issue eighty or one hundred millions o f dollars, in large notes,
o f inconvertible paper money, or any other sum, which upon due considera
tion and inquiry should be agreed upon, under the sanction o f Congress,
with the most stringent and careful guaranties against abuse, which should
at all times be a legal tender for debts and taxes; there can be no doubt,
that if properly adjusted, this currency could be kept rather above than be
low par. The rest o f the currency would be made up o f gold and silver, at
the market rate, with the exception o f a subsidary one, under a dollar,
which should be composed o f silver and copper, and should not be a legal
tender above that amount. Upon some such plan as this a perfect currency
might be founded, or as near perfection as we may expect to come. I, of
course, throw out these hints only to be matured and adjusted by others,
who have more time and opportunity than myself, and are better qualified
for the task. Although many writers o f late have advocated the adoption
o f an inconvertible paper currency I have seen no well-adjusted plan ; be
sides, most or all o f them have been clogged with gross mistakes upon
other points o f political economy, calculated to mystify the subject rather
than to assist in its adoption. The error in regard to value is shared by
two writers, at least, in the Merchants’ Magazine, and probably others, who
maintain to some extent the same theories. I rope, therefore, to be excused
for recurring to this important point. Both repudiate the old axiom, that
labor is the criterion o f value, and one thinks “ the attempt to ascertain a
constant measure o f value is not only idle, but cannot possibly lead to any
result.” I am, however, o f opinion, that much light has been thrown upon
the subject, in the Merchants’ Magazine, by some o f its able correspondents.
I think it has been shown, that under certain circumstances, what is called
money o f account could as easily and correctly measure all values as a yard
stick can measure a piece o f calico, and that really there is no more neces
sity for a fixed price o f silver or gold, than there is for a fixed price for any
other commodity, and that evil and only evil attends it. The idea that
some material or system may be found or invented, possessing no value in
itself, but should at all times be capable o f determining the value o f other
commodities, and at the same time that it is used as an equivalent, should
be attainable with a fixed and certain facility, is sufficiently utopian. W e
lay it down broadly, then, that labor is the only criterion o f value. But it
has been said, the value o f commodities vary without the amount o f labor
in their production being changed. This is not true with regard to natural
productions. Neither is it produced by any necessary cause, when it is ob
served in other cases. Let us take a bushel o f wheat. A bushel o f wheat
is worth a dollar; but the crop falls short, and it rises twenty-five per cent.
W h at causes the rise in price ? The quantity o f labor is increased in rela
tion to the amount o f wheat produced, consequently the value is greater in
relation to other things; and, although the supply may be increased at any
given point, the price will increase because the extra labor must be paid for.
But the price o f wheat'may fall in a commercial city without an extra crop.
W h y ? because a railroad is made, and it takes less labor to bring it to the
city. But, it will be said that the prices o f other necessaries decrease, with
out the amount o f labor being decreased in their production. W henever
this is observed, it takes place from some adventitious cause. It might pos
sibly happen under the protective system o f France, or the former one o f
582
Journa
o f M e r c a n t ile L a w .
Great Britain, but could not possibly occur under a state o f free trade and a
perfect currency. Articles o f luxury, subject to the caprices and whims o f
fashion, it is considered unnecessary to notice; and it may be admitted that
no positive rule can be applied to them. Many other errors have been
fallen into by writers upon this subject. One has asserted, that under any
commercial system like the present it would be necessary, if we would keep
the demand equal to the supply, “ to increase money as fast as all other
commodities put together; for (says he) if we do not do this, every com
modity multipliable by the exercise o f human industry faster than money
itself, although costing no diminished labor to produce it, will fall in money
prices — forgetting, apparently, that increased production is not only the
cause o f increased demand, but also involves increased consumption. Upon
the slightest review o f this position, it is evident it is a great error; but it is
no new doctrine, it has been preached for twenty years among the would-be
currency reformers o f Great Britain. It is singular that men of acknowl
edged ability and keen perceptions should fall into such grave errors; but,
being blinded by their interests or position, they have not been able to
penetrate the mists o f artificial or secondary causes, and therefore cling to
their delusions with the greater pertinacity.
I shall conclude by saying, that I believe that a currency founded upon
the plan recommended would be a good, and perhaps perfect currency, at
least, for superior to the present. The money o f account would be kept in
tact, present and future evils avoided, and it would become an unvarying
measure o f value for all other commodities.
r . s.
JOURNAL OF MERCANTILE LAW.
INSOLVENT DEBTORS ASSIGNMENT OF ASSETS.
In Court o f Appeals, (New York State,) 1853. Nicholson and others, vs.
Leavitt and others, respondents.
J. W . & R. Leavitt, merchants in the city o f New York, in the year 1845 be
came insolvent, their indebtedness amounting to over $300,000, a part o f which
was then due, and the residue payable at a future period. They in that year
executed thirteen assignments o f their property to the respondents, or one o f
them, all o f the assignments embracing things in possession, as distinguished
from choses in action, containing a provision directing the trustees “ in such
manner, and at such time or times, either at public or private sale, and for cash
or upon credit, and by and under such terms and conditions as they shall think
reasonable and proper, absolutely to sell,” &c.
The plaintiffs were judgment creditors o f J. W . & R. Leavitt, and sought by
their bill o f complaint, which was filed in March, 1847, in the Court o f Chancery,
to set aside the several assignments, on the ground that they were designed to
hinder, delay, .and defraud the creditors o f the assignors. The bill was taken
as confessed against the assignors. The assignees answered, and proofs were
taken.
The cause was transferred to the Superior Court o f the city o f New York, by
which court the assignments were held valid, and a decree made dismissing the
bill with costs. (See 4 Sandf. Superior Court Rep. 252.)
From that decree the complainants appeal to this court.
Charles O’Conor for appellants, S. Beardsley for respondents.
Gardiner, J. The only question which I propose to consider is, whether a
Journal o f Mercantile Law.
583
provision authorizing a credit in the discretion o f the trustees, upon the sale o f
the property, avoids the trust as to the complainant, a judgment creditor.
One o f the express trusts aulhorized by statute is, “ to sell lands for the ben
efit o f creditors.” Trusts o f personal property are tolerated by our law for the
same object. The power to create a trust, of real or personal property, or, as in
this case, of both must be construed in the light of other provisions o f the com
mon law and the statutes o f this State.
One o f these statutes prescribes that every assignment o f any interest in lands,
goods, or things in action, made with intent to hinder, delay, or defraud creditors
o f their lawful suits, damages, debts, or demands, shall, as against the persons so
hindered, delayed, &c., be void. (2 R. S. 137, sec. 1.) Another, that all assign
ments o f goods, &c., in trust for the use o f the person making the same, shall be
void as against creditors exeisting or subsequent o f sueh persons. (2 R. S. 135,
sec. 1.)
These statutes are but expositions o f the common law, (2 Cowp. 432,) which
in addition, imposes upon the debtor the obligation to pay his debts as they be
come due. These various provisions o f law must stand together, and each should
be so interpreted as to preserve the rights o f the debtor, without essentially
affecting his obligations to his creditors.
The legislature have conferred upon the debtor the right to create a trust o f
his property for certain purposes. He may also prefer one creditor to another.
O f course, the “ delay ” to creditors, necessarily resulting from a fair exercise o f
these rights, is not prohibited by any statute; but this delay must be incidental
and necessary to the existence o f the trust, or the exercise o f the power. Where
it becomes the principal motive for the creation o f the one or the exercise o f the
other, the conveyance made and thing done in pursuance o f such intent, if any
injury does, or may thereby result to creditors, is prohibited by statute, and may
be avoided at their instance.
Nothing beyond this was determined in Meux vs. Howell, (4 East. 1,) and in
Winter vs. Winne et al., (6 Cowen, 287,) and other cases to which we have been
referred.
In the first case,Lord Ellenborough said: “ The statute was meant to prevent
deeds, &c., fraudulent in their concoction, and not merely such as in their effect
might delay or hinder creditors.”
And in the last it was held, that it could not be left to a jury.to decide whe
ther an execution was issued upon a bona fide judgment with an intent to delay
other creditors, that such must necessarily have been the intent, the property be
ing sufficient to pay both judgment creditors. Both o f these were cases o f pref
erence by means o f judgment confessed to bona fide creditors, who had issued
executions and levied upon the insolvent’s property.
The delay in each case to other creditors was the necessary result o f the pref
erence given, and for that reason lawful.
Indeed, these authorities and others o f the same class, are not distinguishable
in principle from a case in which an insolvent, owing debts o f an equal amount
to two different creditors, with money sufficient to discharge one only, and no
other property, pays one demand in full, and omits the other intentionally.
No one would imagine in the instance supposed, that the debtor and the for
tunate creditor, one or both, were liable in a penal action for fraud. The pay
ment o f one demand, although the debtor happened to owe two, was right in
itself, and precisely what the law required. And although the parties may have
foreseen, and intended that other creditors should be delayed, the delay would
be the incidental consequence o f an act perfectlyjust and legal. But let us sup
pose that the debtor owed but one debt, and had transferred his property with
intent to hinder and delay that creditor, although but for a day, the assignment,
if it could have that effect, would be fraudulent and void.
The same would be true o f a trust giving preferences, but intended to hinder
and delay other creditors.
In these cases the motives for creating the trust, and the purpose to be effect
ed by it, would be illegal. The delay, instead of being incidental, would be the
584
Journal o f Mercantile Laic.
primary object to be accomplished by its creation. Such an intent, whether
manifested by an open or secret trust, avoids the conveyance. There is no case
to the contrary, nor can there be without a repeal o f the statute.
It was argued that an “ intent to hinder and delay creditors, there being no in
tent to defraud them, will not make an assignment illegal— a positive intent to
defraud must exist.” The answer to this suggestion is, that a positive intent to
defraud always does exist where the inducement to the trust is to hinder and
delay creditors, since the right o f a creditor to receive his demand when due, is
as absolute as the right to receive it at all.
It has been understood, that where an individual has incurred an obligation to
pay money, the time o f payment was an essential part o f the contract; that when
it arrived, the law demanded an immediate appropriation by the debtor o f his
property in discharge o f his liability, and if he failed, would itself, by its own
process, compel a performance o f the duty.
The debtor, by the creation of a trust, may direct the application o f his prop
erty, and may devolve the duty of making the appropriation upon a trustee.
This the law permits, and such delay as may he necessary for that purpose. But
the debtor cannot in this way avoid the obligation o f immediate payment, or ex
tend the period o f credit, without the assent o f the creditor. The attempt to do
this, however plausible may be the pretense, is in conscience and in law a fraud,
and nothing else.
It is the fraud which we are asked to sanction, by upholding the trust, in
question.
These insolvent debtors have authorized their trustees, according to their dis
cretion, to sell the assigned property upon credit. They are to determine when
the purchasers shall pay, and, ot course, when the creditors shall receive their
dividend. Their power amounts to this, as we shall see, if it amounts to any
thing.
It is hardly necessary to say that what the debtors could authorize, they could
direct to be done; and they could have prescribed the period for the credit in the
trust deed. Their power in this respect, upon the principles assumed by the
court below, is unlimited, if exercised in good faith.
The whole argument, independent o f authority in favor o f this extraordinary
power, resolves itself into this, that without it the property o f the debtor may be
sacrificed, and creditors thereby injured. T o this it may be answered, if the
trust property is not readily converted into money, the debtor may dispose o f it
himself. He is under no obligation to assign. It was not the object o f the
legislature, as the late Chancellor remarked, “ to hold out inducements to a debtor
in failing circumstances to place his property beyond the reach o f creditors.”
(7 Paige, 274.)
In the second place, if the property is more than sufficient to discharge all the
debts of the assignor, he has no right to delay creditors, by giving credit on the
sale o f the property, with a view to increase the surplus resulting to him ; this
would be a trust for his own benefit, and consequently void, by the first section
o f the “ Act against fraudulent conveyances.” (7 Paige, 37.)
If the property is insufficient to pay the demands o f creditors, it is obvious
that they are chiefly interested in the amount to be realized by the sale. As
they must sustain the loss, if there is a deficiency, they should have the right to
be consulted, and to determine whether their interest will be better subserved
by a smaller sum presently received, or a larger one at a future period. The
rights o f the debtor are sufficiently guarded by the privilege which the law' gives
him o f intrusting the sale o f his property to trustees o f his own selection. That
they will consult his interest, whoever else may suffer, is demonstrated by all
past experience.
Again, the practice o f Chancery in reference to Receivers, and the law author
izing a credit, by certain statutory trustees, administrators, &c., upon the sales
o f property, on account of creditors, have been cited to sustain the views o f the
respondents. But all these are officers of the law, and not the representatives o f
Journal o f Mercantile Law .
585
the debtor. They are trustees, it is true; hut their duties are defined by the
court, or written in the statute.
Besides, the grant o f the power in express terms, in the cases mentioned, is
evidence that in the opinion o f the legislature, such an authority could not be
implied from a mere power to sell, which is the proposition to be established to
sustain this assignment.
Neally -vs. Ambrose, (21 Pick. 185,) and Hopkins vs. Ray, (1 Met. 79,) merely
determine that the provisions o f the particular trusts then before the court gave
to the assignees authority to sell on credit, not that it would be implied from the
grant o f a power to sell.
In Hopkins vs. Ray, the trustees were authorized “ to sell and dispose o f the
goods in such manner as they should think most advisable, within one year.”
They thought it advisable to sell on credit, and it was held that they could not
be made personally responsible, although the trust was void by the law o f Mas
sachusetts. The terms o f the assignment in the other case were equally strong.
In neither o f them was the validity o f the trusts themselves in question, and in
both, the plaintiffs were attaching creditors, not creditors by judgment,
In Rogers vs. De Forest, (7 Paige, 278,) the Chancellor observed: “ That the
express power to sell on credit in that case, was a power which is usually im
plied in trusts o f that description, and was not a violation of the Revised Statutes
relative to uses and trusts.” And yet, singularly enough, he remarks in the
same opinion, that he was “ satisfied it was never the intention o f the legislature
to vest the legal estate in trustees under the first Sub. o f the 53d section, for
any other purpose than that o f an immediate sale for the benefit o f creditors.”
The ground upon which this learned jurist upholds a trust to sell on credit is
that the securities taken for the property sold may, by order o f the court, be at
once converted into cash. This is also the opinion o f the Superior Court, who
seem to have adopted the doctrine and reasoning o f the Chancellor. But if the
debtor can legally direct the trustees to give credit on the sale, it is because the
law clothes him with a discretion to determine whether a future payment will or
will not be advantageous to his creditors.
The Court o f Chancery cannot control that discretion, or deprive the creditors
o f the benefits resulting from its exercise, by compelling the trustees to sacrifice
the securities taken from the purchasers, in order to raise money for immediate
distribution.
This is true o f an assignment like the present, where the assignees are clothed
with a discretionary authority by the author o f the trust. It is, in each case, a
question o f power under the statute. I f the debtor can create such a trust,
equity cannot interpolate a provision that the fund shall be disposed of, and the
money realized, according to the discretion o f a chancellor.
A debtor, for example, or assignees under his authority, determine, as the late
Chancellor assumes they rightfully may, that the real estate o f the insolvent sold
on a credit o f two years, will produce fifteen hundred dollars, which, if sold for
cash, would yield but one thousand. That fifteen hundred dollars, divided
among the creditors at the end o f that period, would be more for their advantage
than one thousand presently distributed. He frames a trust accordingly. The
trust is valid; and yet a Court o f Equity that could not compel the trustees to
dispose o f the land for cash, can yet deprive the creditors of the advantages o f
a future payment, by compelling the trustee to sell the bond and mortgage re
ceived for the real estate, to a broker for one thousand dollars in cash for pres
ent distribution. Indeed, the reason assigned by the Chancellor for upholding
the trust is, in substance, because the Court o f Chancery can annul it at
pleasure.
I deny that courts possess any such power. If the trust is valid, they are
bound to enforce, and not defeat it. That a power o f this kind, vested in a
debtor, would be most dangerous, the Chancellor impliedly admits in claiming
jurisdiction to modify and regulate its exercise.
Its liability to abuse is, to my mind, a sufficient reason against implying its
existence.
586
Journal o f Mercantile Law.
The same consideration which made the legislature require an immediate sale,
require an immediate payment also.
A discretion may be as judiciously exercised in postponing the time o f sale o f
property, as in postponing the time o f payment.
In opposition to the authority cited by the respondents, reference may be made
to the observations o f the Chancellor, in Hart vs. Crane, (7 Paige, 38,) and in
Meacham vs, Stearnes, (9 Paige, 405,) to the decision o f the Supreme Court o f
the seeond district, in Burdick vs. Huntington, and to Barney vs. Griffin, (2 Corns.
865.) No member o f the court dissented from the opinion o f Judge Bronson,
upon this point in that case, although no decision was made upon it, because
none was necessary to the determination in that suit.
The judgment o f the Superior Court must therefore be reversed, and the, as
signments containing the provisions as to credit, be declared fraudulent and void
as to the complaints.
REMITTING MONET IN THE MAIL.
A case has been recently decided in the United States Circuit Court at Rich
mond, before Chief Justice Taney and Judge Halyburton, which involves ques
tions o f interest to the commercial community and some others. The Richmond
Mail gives the points o f the case as follow s:—
The eause turned mainly upon the legal effect o f letters written by the cred
itor to the debtor, urging the payment o f a negotiable note, and asking the
debtor to “ remit the money” and “ forward the amount o f the note.” Upon the
alledged faith o f these letters, the debtor deposited the money, in bank notes, in
the mail, in a letter addressed to the creditor in Baltimore. The letter was lost,
and never came to the hands o f the creditor.
The debtor, R. D. Dun, o f Essex County, Virginia, had executed his note to
the plaintiffs, Selman & Son, o f Baltimore, for about seven hundred dollars, pay
able at the Farmers’ Bank o f Virginia. Before it fell due, Dun, the defendant,
visited Baltimore, asked that his note might be ordered back from Richmond,
whither it had been sent for collection, to Baltimore, and kept there, promising
to pay it in whole or in part before leaving. He failing to do this, the plaintiffs
wrote him urgently for payment. He replied, stating that he had been to Rich
mond at the time the note fell due to pay, but could not find it, asking where it
was. T o this plaintiffs replied, “ Your note is here, forward the amount and we
will send your note to you.” The defendant also proved that the merchants in
Essex were in the habit o f remitting money to Baltimore by mail.
The plaintiff’s counsel relied on a decision o f the Court o f Appeals o f Virginia,
reported in 3 Grattan’ s Reports, in which it was held in a very similar case, that
no proof o f such local custom could be given to affect the creditor, and that a
letter directing the debter “ to remit money,” did .not authorize transmission by
mail.
Chief Justice Taney, in the present case, disapproved o f that decision, and in
structed the jury that evidence might be given o f such custom, and was proper,
it being somewhat a question o f commercial usage; that the jury might if they
pleased, infer authority to remit by mail in this case; that if the creditor used
language calculated to mislead the debtor, it was at his own risk; and that if the
deft*dant Dun might reasonably have supposed, from the circumstances, that
the plaintffs intended to authorize transmission by mail, then the jury would be
justified in finding for the defendant. Verdict for defendant.
LA W OF BANKRUPTCY.
A landlord had distrained for rent prior to an act o f bankruptcy, but before
the sale the tenant was adj udicated a bankrupt. The landlord was held, upon
appeal, to be entitled to retain six years o f rent.— Law Times, Rep. 267.
/
587
Commercial Chronicle and Review.
COMMERCIAL CHRONICLE AND REVIEW.
P R E S S U R E IN T H E
M O N E Y M R A K E T — C A U SE S OF C O M M E R C IA L D IS A S T E R IN D IV ID U A L
G E N E R A L — D E P R E S S IO N IN P R I C E S
C O N D IT IO N O F T H E
— M O D I F IC A T I O N
D E P O S IT S AND
NEW YORK
OF T H E
C O IN A G E
S E P T E M B E R — AND FROM
OF D R Y
YORK
GOODS A T
TO
AT
TH E
JA N U A R Y
NEW YORK
F O R E IG N P O R T S
FOR
A
T IN U E D
S E R IE S OF Y E A R S
S H IP M E N T F R O M
S T A T IS T IC A L R E V IE W
A N D B O N D S — R E D E M P T IO N
C O N D IT IO N O F
P H IL A D E L P H IA
OF T H E
IN
FO R' SE P T E M B E R , AND
SEP TE M B E R
FROM
AND FROM
NEW
U N IT E D
STATES
TH E
RATH ER
P U B L IC
M A N U F A C T U R IN G
M IN T — F O R E I G N
1 S T .— I N C R E A S E
A T L IV E R P O O L , W IT H
TH E
OF T H E
TH AN
DEBT—
C IT Y B A N K S— H E A V Y IM P O R T S , AND D IS T R IB U T IO N OF T H E G O O D S
T A R IF F — G E N E R A L
A R T IC L E S O F D O M E S T IC P R O D U C E
FOR
OF S T O C K S
TH E
FOR
N IN E
JA N U A R Y
SO M E R E M A R K S
THAT
AT
IN T E R E S T S —
NEW
YORK
FOR
W A R E H O U S IN G B U S IN E S S — IM P O R T S
Y O R K — IM P O R T S
TO
IM P O R T S
AND
M ONTH S— E X PO R T S
1 S T .— S H I P M E N T S
AND
EXPORTS
UPON T H E
OTHER
FROM
NEW
OF L E A D I N G
OF B R E A D S T U F F S
PROSPECTS
OF
A
CON
EU ROPEAN P O R T S , AND
A
F R E IG H T IN G I N T E R E S T S , E T C .
O u r readers will remember that we left the money market, at the date o f onr
last issue, in an unsettled state, with a tendency toward still higher rates o f in
terest. This tendency has been fully realized; and the pressure has been so
great in some quarters, as to lead to the failure o f a few weak houses, who
were too much extended to recover themselves, when thus overtaken in their
inconsiderate course. , The prices o f nearly all descriptions o f securities have
continued to decline, and those who have been compelled to realize upon their
investments, have only done so at a considerable loss. Political economists are
quarrelling with each other as to the cause o f these commercial troubles, and
several grand specifies have been recommended as cure-alls for the evil. The
tendency o f the public mind to generalize in regard to such subjects is in itself
an evil, which ought to be abated. I f a manufacturer is unfortunate in his busi
ness, he is directed to look to the action o f government as the cause o f it, in
stead o f finding it in his own want o f skill, or the fact that his fabrics are not
adapted to the wants o f the community, while the truth in such a case generally
is, that under any conceivable action o f government, short o f a positive bounty
to the individual, his failure would have occurred just the same. So in cases o f
wretchedness or destitution, which will occur, even in this country whose poor
are so highly favored with opportunities o f self-sustentation, the sufferers are
taught by many o f their professed friends to blame the system o f social order
under which they live, and to endeavor to upheave its foundations, instead o f
placing their own shoulders to a burden they alone can efficiently move. In the
commercial world the same false principle prevails to a greater or less extent,
and merchants whose course o f extravagance, or recklessness, or indolence, or
whose natural incompetency for the task they have undertaken, has led them
into a peril which they cannot now avert, are ever ready to find the cause o f their
calamity in the circumstances which have hastened, or only attended the final
catastrophe. If there were no political convulsions, no expansions and contrac
tions in the money market, we do not believe that a much larger proportion o f
business men would achieve success, than at present. The turning point o f
failure might be less noticeable; there might be no crash, when the scheme by
which fortune was to be reached was found to be baseless, but the end would,
in nine cases out o f ten be just the same. W e make these remarks because
they seem to be needed at this juncture. A merchant should be sagacious, farseeing, provident, and cautious, it is true; but these qualities should not lead
588
C o m m e r c ia l C h r o n ic le a n d R e v ie w .
him so much to dependence upon the signs o f the times, as to reliance upon him
self. A new house with a capital o f ten thousand dollars, may do a credit busi
ness o f over half a million per annum, and if public confidence remain wholly un
disturbed, may be successful. But if some convulsion occur, and they fail,
their ill-success is not caused by the convulsion, but by their attempt to over
trade beyond what their capital would warrant. The point to which we would
urge the attention o f all our readers is this, that a closer attention to their own
business, not so much to its details, as to the principles upon which it is con
ducted, is essential to their ultimate success. Every business man should have
a plan or system o f operation, at the outset, and these should govern him, rather
than the allurements which mock his pathway. Those who have been for a long
time successful, and have finally been overtaken by misfortune, if they have
carefully examined their course, have found the cause o f their downfall almost
invariably, in their departure from long cherished principles. The stock market
tempted them, and the gain seemed so sure, they ventured a speculation; other
sums were drawn in to save the first investment, and thus all was lost. Or the
sudden prosperity o f some around them, induced a little deviation from their
accustomed track, which widened as they went onward to their own ruin.
The stringency in the money market has operated against the various works
o f internal improvement, the funds for which were not already provided, as it has
been found almost impossible to dispose o f either stocks or bonds at their ordi
nary value. The Government have made further purchases o f United States
stocks, the demand for money having rendered this a favorable opportunity for
calling in a portion o f the public debt. There still remains nearly $30,000,000
in specie in the Sub-Treasury, available for Government purposes, or for a fur
ther reduction o f the debt, if the stock should be presented.
The banks generally continue the contraction o f their loans and dis
counts, but maintain their specie strength notwithstanding the large shipments
o f gold. The following is a comparison o f the weekly average o f the loans and
discounts, specie, circulation, and deposits o f the New York city banks, continued
from our last issue:—
Average am’ t
of Loans
and Discounts.
August 6 . . . . . . . . §97,899,499
August 13.........
August 20.........
August 27.........
September 3 . . . .
September 1 0 .. . . . 91,108,347
September 17... . . 90,190,589
September 2 4 ...
October 1 ........... . . 90,149,540
October 8 ........... . . 89,128,998
October 1 5 ...... . . . 87,837,273
October 22......... . . 85,367,981
Average
amount of
Specie.
Circulation.
Average
amount o f
Deposits.
9,146,441
10,653,518
11,082,274
11,319,040
11,268,049
11.380,693
11,860,235
11,340,925
11,231,912
10,266,602
11,330,172
10,303,254
9,513,053
9,451,943
9,389,727
9,427,191
9,554,294
9,597,336
9,566,123
9,477,541
9,521,665
9,673,458
9,464,714
9,388,543
60,579,797
57,451,504
57,801,223
57,481,891
57,502,970
57,545,164
57,612,301
58,312,334
57,968,661
57,985,760
69,068,674
55,748,729
Average
amount of
The heavy importation o f foreign goods, some statistics o f which are herein
after given, have added materially to the alarm caused by the present unsettled
condition o f European affairs. A comparison o f the receipts for the last week or
two would indicate that the highest point, has been reached, and that hereafter
the imports will decline. The immense stock brought out during the last year,
and which it was supposed would glut the market, have nearly all been disposed
589
Commercial Chronicle and Review.
o f at a profit for such as were desirable, and at no greater loss than usual for
those which were unsuited to the wants o f the trade. The stocks remaining in
the hands o f importers are small, and the channels o f distribution have been kept
comparatively clear, although at times somewhat crowded. A portion o f the or
ders given for Spring have been countermanded, but the bulk o f them were be
yond recall before there was any uneasiness felt here in regard to the future.
Raw silk is very high, and all the imports o f this description must be landed at a
high cost. Woolens will be lower, and Cottons without material change. The
Secretary o f the Treasury suggests some modification o f the present Tariff, in
view o f the increasing surplus in the Sub-Treasury, and there is little doubt but
what such a change will be effected by the next Congress. It is due to our
manufacturers that the raw materials and dye stuffs should all be imported duty
free. W e already have a monopoly o f Cotton, and if in all the wide unoccupied
fields in our vast extent o f territory we cannot grow a sufficiency o f wool, we
see no objection to importing it. Certainly we do not need a Tariff to protect
wool-growing Where land is so cheap, as the labor employed in its production
forms but a slender item o f the cost. Our silk manufacturers need the encour
agement which would be given them by a free permit to import their raw mate
rial. If this were done until the production had increased so as to render the
business o f sufficient importance, our own farmers could then raise the cocoons
at a profit. The Cotton manufacturers have reaped a rich harvest during the
past year, much to the gratification o f all the friends o f home industry. After
charging 10 per cent for the use o f the mill and machinery, some o f them have
still a surplus o f profits equal to two or three years interest on their capital.
The W oolen manufacturers have not done as well. The raw material has been
very high here, while it has been much cheaper abroad, our high Tariff having
driven the producers to such ports as would admit their merchandise on more fa
vorable terms. This staple is now lower and gradually declining, and the fabricants have a better prospect before them during the coming year.
The Iron and Coal interest have been thriving, owing to the high prices real
ized, and the industry o f the country generally has been well rewarded.
The following will show the cash revenue received at the port of New York
during the month o f September, and for nine months from January 1st.
CASH DUTIES RECEIVED AT THE POR T OF N E W T O R E .
1850.
1851.
1852.
1853.
In September................. $2,495,212 77 $2,609,832 97 $3,156,107 29 $4,226,340 18
Previous eight months.. 20,724,991 55 23,445,829
93 21,375,395 6230,554,094 46
Total nine months........ $28,220,234 32 26,055,662
90 24,531,502 9134,7S0,434 64
This is the largest amount o f revenue ever received, at that port for a similar
period since the organization o f the government.
The product o f gold is steadily increasing, although the recent drought in
California has prevented the full supply which was expected during the last
month. The following will show the deposits at the Philadelphia mint:—
DEPOSITS
FOR SEPTEMBER.
Gold from Cali- Other sources.
forma.
Philadelphia mint
$2,975,000
$50,000
Silver.
$320,500
Total deposits,
$3,345,000
590
C o m m e r c ia l C h r o n ic le a n d R e v ie w .
COINAGE AT THE PH ILA D E LP H IA MINT FOR SEPTEMBER.
Pieces.
Y aiue<
Double eagles......... 166,097
E a g le s..................... 27,614
Half eagles............. 35,365
Quarter eagles . . . . 60,738
Gold dollars............ 294,848
$3,321,940
276,140
176,825
151,845
294,848
Total g o ld .......... 584,662
$4,221,598
Pipr*pQ
Vflliip
Half dollars........... 498,000
Quarter dollars...... 3,504,000
D im es.....................
900,000
Half dimes.............
700,000
$249,000
876,000
90,000
35,000
Total silver......... 5,602,000 $1,250,000
310,000
3,100
Copper....................
Total Coinage...................... $5,474,698
This brings the total deposits at the Philadelphia mint for nine months o f the
current year up to about $40,800,000, showing an increase upon last year o f
$4,500,000, and o f $8,700,000 over the corresponding period o f 1851. The
great depreciation in the value o f gold which was predicted by many, has not
yet been realized, and the fluctuations in the value o f property affected by the
relative scarcity o f coin, have not been greater than in former years.
The imports into the United States from foreign ports show a farther very
important increase. At New York, where two-thirds o f the receipts are landed,
the total for September is $4,672,485 greater than for the same month o f last
year; $7,561,913 greater than for September, 1851; and $4,851,594 greater
than for September, 1850, as will appear from the following comparison:—
FOREIGN IMPORTS AT NEW YO RK FOR SEPTEMBER.
1850.
1851.
1852.
1858.
Entered for Consumption........ $8,192,761
Entered for Warehousing... .
928,125
1,278,878
Free Goods................................
Specie.........................................
2,046,346
$8,384,172
864,916
366,153
115,550
$11,095,827
623,260
834,343
66,789
$14,791,030
1,577,358
62S.290
296,026
Total Imports........................... $12,441,110
Withdrawn from Warehouse.
1,117,262
$9,730,791
1,669,304
$12,620,219
1,254,358
$17,292,704
1,709,052
The specie entered under that head in 1850 embraces a large amount o f Cali
fornia gold, which was received by Chagres, and cleared from thence as from a
foreign port, although it was o f domestic and not foreign production.
This continued increase in the receipts o f foreign merchandise, as shown above,
has, as we have already hinted, excited the serious attention o f our financiers.
The total increase in the imports at New York for the first nine months o f the
year, has now reached $53,234,717, as compared with last year; $45,313,380, as
compared with 1851, and $40,282,206, as compared with 1850, notwithstanding
that the statement for the last named year includes nearly $14,000,000 o f Cali
fornia gold.
FOREIGN IMPORTS AT NEW Y O RK FOR NINE MONTHS ENDING SEPTEMBER 30.
1850.
Entered for consumption.. . .
Entered for warehousing. . . .
Free g o o d s.............................
S p e cie ......................................
$80,481,533
12,587,769
7,481,481
14,568,519
1851.
$90,426,070
10,709,917
9,169,612
1,782,529
1851
1851.
$83,305,277 $125,138,189
6,539,890
17,391,246
10,169,670
10,964,816
2,151,954
1,907,257
Total imports..................... $115,119,302 $110,088,128 $102,166,791 $155,401,508
Withdrawn from warehouse.
8,211,418
9,801,534
12,206,926
11,682,018
It will he seen that there is a very large increase in the stock o f goods en
tered for warehousing, and that this has not heen withdrawn for consumption
at this port, but has been distributed in bond to other ports. The three quarters
591
C o m m e r c ia l C h r o n ic le a n d R e v iew .
o f the calendar year which have now expired have witnessed the largest imports
which the country has ever known. W e annex a quarterly statement showing
during what portions of the year this increase is the most noticeable:—
QUARTERLY STATEMENT OF FOREIGN IMPORTS AT NEW YORK.
1850.
1851.
First quarter...................
Second quarter...............
Third quarter.................
132,068,726
34,954,052
48,096,524
$40,608,975
31,780,382
37,698,771
Total 9 months...........
$115,119,302
$110,088,128
1852.
1853.
$32,849,576
28,446,051
40,871,164
$50,336,718
47,499,805
57,564,986
$102,166,791
$155,401,508
It will be seen from this that the receipts were comparatively heaviest during
the quarter ending the 30th o f June, and that although they have since continued
to increase, the comparative increase for the last quarter is less than for either
of the two preceding months. O f the increased receipts for the last month,
three-fourths have been in dry goods, the total for September being $3,622,786
greater than for September, 1852, $5,176,050 greater than for September, 1851,
and $4,990,411 greater than for September, 1850. The increase for the month,
as compared with last year, is greatest in silks and woolens, as will appear from
the following comparison:—
IM PO RTS OF FOR EIGN D R Y GOODS AT N E W YO R K FOR SEPTEMBER.
ENTERED FOR CONSUMPTION.
1850.
1851.
1852.
18:51.
Manufactures of w ool...................
Manufactures of cotton..................
Manufactures of s ilk .....................
Manufactures of flax......................
Miscellaneous dry goods................
$1,380,248
546,523
1,874,495
483,040
342,998
$1,293,205
600,073
1,553,943
477,742
331,601
$2,085,397
950,820
2,070,823
742,596
446,681
$3,200,641
1,199,298
3,864,625
767,925
585,535
Total.........................................
$4,627,304
$4,256,564
$6,296,317
$9,618,024
W IT H D R A W N FROM WAREHOUSE.
1850.
Manufactures o f w ool...................
Manufactures of cotton..................
Manufactures of silk......................
Manufactures o f flax......................
Miscellaneous dry goods................
T ota l....................................... , . . .
A dd entered for consumption. . . . . . .
1851.
1852.
185.1
126,316
65,715
23,816
$494,484
107,154
245,100
44,778
31,059
$166,667
69,448
97,148
56,955
35,601
$287,924
94,480
53,968
43,844
23,491
$694,748
4,627,304
$922,575
4,256,564
$425,819
6,296,317
$503,707
9,618,024
Total thrown on the market. . . . $5,322,052 $5,179,139 $6,722,136 $10,121,731
ENTERED FOR WAREHOUSING.
1850.
Manufactures of w ool....................
Manufactures o f cotton .................
Manufactures of s ilk ..................... ___
Manufactures of fla x .....................
Miscellaneous dry g o o d s ...............
2 S2,520
56,833
Total....................................... . . . .
Add entered for consumption.. . . . . .
$664,386
4,627,304
1851.
1852.
1851
$277,963
159,998
184,289
137,148
90,092
$96,804
59,597
88,150
56,732
61,718
$277,410
166,575
120,857
60,053
39,185
$849,490
4,256,564
$363,001
6,296,317
$664,080
9,618,024
Total entered at the port...........$5,291,690 $5,106,054 $6,659,318 $10,282,104
592
C o m m e r c ia l C h r o n ic le a n d R e v ie w .
For the last nine months the increase has been very evenly divided between
dry goods and general merchandise, and in the former has been greatest in
w oolens:—
IM PO RTS OP FOREIGN D R Y GOODS AT N E W YO RK FOR NINE MONTHS, FROM JANUARY 1ST.
ENTERED FOR CONSUMPTION.
1810.
1851.
18S2.
1891.
Manufactures of wool....................... $13,527,083 $11,965,958 $12,079,080 $21,719,622
Manufactures of cotton .................
9,020,422
8,448,367
7,906,679 12,217,060
Manufactures of s ilk ..................... 17,110,790 19,828,556 17,020,256 27,525,127
Manufactures of fla x .....................
6,270,651
5,061,925
4,781,272
6,399,134
Miscellaneous dry goods................
2,112,874
3,087,479
3,475,820
4,458,053
Total........................................ $48,041,820 $48,492,285 $45,263,107 $72,318,996
W IT H D RAW N FROM WAREHOUSE. *
1850.
1851.
1852.
1851
Manufactures o f wool....................
Manufactures of cotton.................
Manufactures of s ilk .....................
Manufactures of flax.....................
Miscellaneous dry goods...............
$1,538,567
1,072,811
962,064
370,711
120,851
$1,688,155
1,237.340
1,225,715
507,477
311,647
$1,467,303 $1,798,131
1,291,003
882,089
1,638,467
1,163,611
714,607
208,157
296,552
281,733
Total.........................................
Add entered for consumption.. . .
$4,065,004
48,041,820
$4,970,334
48,492,285
$5,407,932
45,263,107
$4,333,721
72,318,996
Total thrown on the market. $52,106,824 $53,462,619 $50,671',039 $76,652,717
ENTERED FOR W AREHOUSING.
1850.
1851.
Manufactures of w o o l...................
Manufactures o f cotton..................
Manufactures of silk .....................
Manufactures of flax......................
Miscellaneous dry g o o d s ..............
$1,903,973
1,654,493
1,208,605
600,197
358,675
$1,939,209
1,342,205
1,794,381
620,107
368,675
T o ta l........................................
Add entered for consumption___
$5,467,678
48,041,820
$6,054,577
48,492,285
.1852.
1851.
$1,098,877 $2,202,029
745,479 1,160,194
1,812,847 1,335,678
300,384
298,679
312,799
314,533
$4,270,386
45,263,107
$5,311,113
72,318,996
Total entered at the p ort. . . $53,509,498 $54,546,862 $49,533,493 $77,630,109
This makes the total for the last three quarters o f the year, $28,096,616
greater than for the same period o f last year, $23,083,247 greater than for the
same period o f 1851, and $24,120,611 greater than for the same period o f 1850.
The exports are now increasing more rapidly than the imports. The increase
at New York for September (exclusive o f specie) is $2,433,715, or 66 per cent,
over the same month o f last year; $3,124,912, or more than 50 per cent, over
the corresponding period o f 1851; and $600,257 over even the large total for
the same period o f 1850.
EXPORTS FROM N E W YO R K TO FOREIGN PORTS FOR THE MONTH OF SEPTEMBER.
1850.
1851.
1852.
1851
Domestic produce............................. $4,844,574 $2,598,986 $3,289,429 $5,579,088
Foreign merchandise (free)............
16,551
134,271
128,184
63,470
Foreign merchandise (dutiable)....
707,834
316,047
317,888
526,658
S pecie...............................................
1,033,918
3,490,142
2,122,495 1,244,191
Total exports...............................
T o ta l, exclusive of specie .............
$6,602,877
5,568,959
$6,534,446 $5,857,996 $7,413,407
3,044,304
3,785,501
6,169,216
593
C o m m e r c ia l C h r o n ic le a n d R e v ie w .
The exporta for the first nine months o f the year, exclusive o f specie, are
$10,218,862 greater than for the same period o f last year, $10,025,191 greater
than for the same period o f 1851, and $8,440,124 greater than for the same
time in 1850.
EXPORTS FROM N E W TORE. TO FOREIGN PORTS FOR NINE MONTHS, ENDING SEPTFMBER 8 0 .
18S0.
1851.
1852.
1853.
Domestic produce...........................$32,273,100 $31,498,446 $30,741,612 $40,424,718
479,850
530,901
716,626
1,153,996
Foreign merchandise (free)...........
Foreign merchandise (dutiable). .
3,778,199
2,916,735
3,284,173
3,392,559
Specie ...........................................
6,447,466 31,261,271 20,653,836 15,007,758
Total exports............................... $42,978,615 $66,207,353 $55,396,247 $59,979,031
Total, exclusive o f specie......... 36,531,149 34,946,082 34,752,411 44,971,273
This increase has not been uniform throughout the year, but has been greatest
during the last quarter, during which the shipments have been nearly doubled,
while for the whole year, the aggregate increase is only 33J- per cent. The
shipments o f specie have declined $5,646,078 as compared with last year, and
$16,253,513 as compared with 1851. The following will show the quarterly
shipments o f produce:—
QUARTERLY STATEMENT OF EX PO RTS OF DOMESTIC PRODUCE FROM N E W YO R K TO
FOR EIGN PORTS.
1850.
1851.
1852.
1852.
First quarter.........................
Second quarter.......................
Third quarter.........................
$8,188,538
10,728,335
13,356,227
$9,714,728
12,742,111
9,041,607
$10,085,484 $11,020,636
12,060,337 14,401,654
8,595,791
15,002,428
Total 9 months..................
$32,273,100
$31,498,446
$30,741,612 $40,424,718
W e also annex a comparative statement o f the shipment o f certain leading
articles o f domestic produce from New York to foreign ports, from January 1st
to October 15th:—
EXPORTS FROM N E W YO R K TO FOREIGN PORTS OF CERTAIN LEADING ARTICLES OF
DOMESTIC
PRODUCE,
1852.
FROM JANUARY 1ST TO OCTOBER 1 5 T H .
1853. |
1852.
1853.
Ashes— p o t s .. . .bbls.
pearls............
Beeswax................. lbs.
14,950
8,518 Naval stores.. . .bbls. 354,646 366,308
731
616 [Oils, whale.......... galls.
37,838 239,148
sperm................. 549,572 897,376
234,742 168,977
Breadstuff's —
lard.....................
23,679
46,314
Wheat flour . .bbls. 1,091,194 1,309,076
linseed...............
10,838
18,569
R ye flo u r...............
8,086
2,419 P rovision s —
Corn meal...............
32,237
35,313
Pork.................. bbls.
29,965 57,466
W h e a t............ bush. 2,063,034 3,920,270
Beef.........................
37,541
40,642
R ye.......................... 236,460
3,655
Cut m eats........ lbs. 1,367,262 7,552,779
Oats.........................
9,068
56,'13
Butter..................... 541,317 1,299,606
Barley.....................
5,367
100
C h eese................... 781,108 5,052,129
Coru ....................... 735,324 618,339
L a r d ......................................... 3,879,6695,626,552
Caudles, mold, .boxes
47,722
40,071 R ic e .......................trcs.
23,276
19,671sperm...........
3,141
3,955 Tallow.....................lbs. 365,115 2,371,16.3
20,841 20,457
C o a l.......................tons
30,739
25,228 Tobacco, crude...pkgs.
Cotton . . . . . . . .bales 293,370 333,383 Do., manufactured.lbs.3,498,739 4,947,605
H a y .............................
6,650
3,851 |Whalebone................. 626.773 2,631,657
Hops.............................
499
292
If the expectations o f those who profess to be best acquainted with the Eu
ropean harvests are fulfilled, the increased exports o f wheat and flour, as shown
in the above table, will be swelled to an amount beyond any former precedent,
since the famine years o f 1846-7. How far this will be realized it is o f course
VOL. xxix.— n o . v.
38
594
C o m m e r c ia l C h r o n ic le a n d R e v ie w .
impossible to predict; but prices o f breadstulfs have greatly advanced through
out the whole o f the United States, as well as in Europe, and but for the strin
gent m oney market which has compelled holders and speculators to realize, they
would have remained still higher. In this respect the pressure for capital has
produced a happy effect.
Speculations in articles o f food are always odious,
when they lead to a garnering o f stores to enhance the price. Operators who
try such experiments, cause much distress among the poor by the artificial scar
city which they create, while they not unfrequently lose their anticipated profit,
b y holding until the highest wave has passed by.
It is better for this country
that the produce which is to be shipped, should be sold abroad as near as pos
sible to the price which the producer is paid for it.
I f a large additional profit
is made on it by the shipper and speculator, beyond the cost o f transportation
and a fair commission for doing the business, the consumption is greatly lessened,
while no legitimate interest is benefited. In this connection it will be very interest
ing to note the progress o f this trade in England; and for this purpose we have
carefully compiled a comparative table o f the imports and exports at Liverpool,
dow n to the very latest dates to which the returns are completed.
COMPARATIVE IMPORTS OF THE FOLLOW IN G ARTICLES, AT LIV ERPO OL, FOR THE YEAR
ENDING 3 1 ST AUGUST.
Wheat, Coastwise..................
Colonial ..................... .
F o re ig n .......................
Flour, British.........................
Foreign....................... .
Foreign....................... ___ bb’ s.
Colonial.........................
Oats, British...........................
Foreign..........................
Barley, British.........................
Foreign ..................... .
Beans, British.........................
Foreign.........................
Peas, British............................
Foreign...........................
Oat Meal, British...................
Indian Corn, Foreign..............
Indian Corn Meal, Foreign..
1853.
22,147
47,651
880,770
35,550
•20^,886
],0S0,658
85.525
171,943
5,445
22,103
18,024
9,915
105,631
13,958
9,100
848,838
326,099
228
1852.
20,030
21,780
475,799
31,584
141,597
930,453
95,055
186,223
22,431
35,528
23,396
13,189
118,336
7,763
4,911
277,312
211,526
712
Wheat, Coastwise................... ........ qrs.
Colonial.......................
Foreign. .....................
Flour, British.........................
1819.
54,811
20,482
557,327
88,334
ISIS.
137,438
2,826
218,681
156,964
Foreign .......................
Colonial.......................
Oats, British..........................
F oreign.......................
Barley, British........................
F oreign .......................
Beans, British.........................
F oreign .......................
Peas, British............................
Foreign..........................
Oat Meal, British................... . . . loads.
Indian Corn, Foreign.............
Indian Com Meal, Foreign. . .
896,855
215,142
175,269
9,372
37,191
28,024
6,528
127,756
14,721
28,437
150,287
1,002,439
62,729
227,285
105,127
190,493
14,425
33,784
27,7-86
11,077
125,504
4.637
8,060
166,168
504,193
105,937
1851.
28,674
10,783
569,189
48,737
324,916
1,192,199
115,651
146,076
6,680
31,910
20,036
7,900
114,664.
11,534
10,406
210,059
286,043
4,598
1817.
130,761
55,006 519,159
79,948
1,979,491
410,806
100,552
66,397
30,596
57,992
13,556
115418
20,361
24,400
67,256
1,171,608
430,534
1850.
76,960
4,752
646,638
195,537
204,683
402,621
59,4$0
174,761
29,321
21,605
43,615
11,307
93,589
10,508
21,141
235,493
542,785
4,804
1846.
194,501
49,038
287,454
264,983
877,659
246,276
194,059
4,430
33,658
8,620
10,418
70,033
14,451
5,031
138,095
192,026
C o m m e r c ia l C h r o n ic le a n d R e v ie w .
595
COMPARATIVE EXPORTS OF THE F OLIO VINT, ARTICLES, FROM LIVERPO OL, FOR THE TEAR
ENDING 3 1 S T AUGUST.
Wheat, Coastwise.....................
Foreign............................
Flour, Coastwise...................... ..sacks.
Coastwise........................
Foreign...........................
Oats, Coastwise.......................
Foreign...........................
Barley, Coastwise.....................
Foreign............................
Beans, Coastwise.......................
Foreign...........................
Peas, Coastwise.......................
Foreign...........................
Oat Meal, British anil Foreign..loads.
•Indian Corn, Coastwise............. . .qrs.
Foreign .......................
Corn Meal, British tfc Foreign.,. . bbls.
1851
1852.
1851.
1850.
130,458
6,3 f 1
72,098
228,440
26,634
2,396
12,580
627
2S4
3,174
218
865
135
18,747
98,730
153
9,872
127,607
1,657
42,463
346,932
29,240
750
134,919
1,447
56,323
214,790
12,092
1,051
8,937
5,931
130
9,701
62,535
920
35,137
104,611
9,080
' 3,450
56
6,989
20
7,638
419
1,286
25
1,876
265
185,574
313,161
418,854
8,434
20,817
14,802
12,868
1819.
....
1817.
1818.
1810.
Wheat, Coastwise.....................
69,370
52,046
33,115
30,510
Foreign...........................
23
4,9f 1
Flour, Coastwise......................
18,912
20,979
16,603
43,887
Coastwise...................... ..bbls.
203,310
221,244
641,278
159,712
Foreign...........................
2,163
47,611
6,177
11,671
Oats, Coastwise..................... .
3,806
9,105
3,167
2,620
Foreign...........................
180
438
8,900
2,386
Barley, Coastwise.....................
7,188
3,253
19,800
1,966
609
Foreign...........................
2
22
Beans, Coastwise....................
10,173
6,219
2,943
4,994
Foreign......................... .
42
895
1.462
2
Peas, Coastwise.......................
1,648
3,573
18,192
3,420
Foreign..........................
120
28
263
102
Oat Meal, British and Foreign . loads.
Indian Corn, Coastwise...........
628,400
144,106
491,907
629,667
Foreign....................
Corn Meal, British & Foreign . . .bbls.
161,999
42,113
189,567
Here appears an increase in the imports for the Jast over the next previous
year o f 432,959 qrs. o f wheat, 160,675 bbls. and 70,255 sacks o f flour, 6,195
qrs. peas, 114,573 qrs. Indian corn, and 71,526 loads o f oa tm ea l; and a decrease
o f 31,266 qrs. oats, 18,797 qrs. barley, and 15,929 qrs. o f beans. In the exports
the most noticeable feature is a decrease o f 121,098 bbls. o f flour, 86,844 qrs.
Indian corn, and 9,964 qrs. beans.
The shipping interest which has been considerably depressed, is now the .most
prosperous o f any in the community.
Vessels o f all descriptions, whether old
or new, sell readily, and bring very full prices. W e have compiled carefully a
table showing the highest, lowest, and average price o f freight for flour and
grain to Liverpool for the last seven years, at the port o f New Y ork :—
,------ FLOUR PER BARREL------ .
•Highest.
s. d.
1816.................... .........
1847.................... ........
1848....................
1849....................
I860.................... ........
1851....................
1852. ................. ..........
6
8
2
9
1
3
0
9
6
3
9
9
6
Lowest.
s. d.
i
i
i
i
0
0
0
9
6
0
3
9
8
9
Average.
s. d.
2
3
1
1
1
1
1
8
9
8
n
H
H
H
,------ WHEAT PER BUSHEL------ ,
Highest.
s. d.
i
2
0
0
0
0
0
3
4
8
7
6
6
6
Lowest.
s. d.
0
0
0
0
0
0
0
7
5
4
3
3
3
3
Average.
s.
0
1
0
0
0
0
0
d.
9£
1
6
5£
4
4£
4f
596
J o u r n a l o f B a n k in g , C u r r e n c y , a n d F in a n c e .
Thus it will be seen that the rates both for wheat and flour average higher
for the last 10 months, than at any previous time since 1847; and engagements
for the com ing month have been made at prices considerably above even the
high rates here given.
JOURNAL OF B A N K IN G , CURRENCY, AND FINANCE.
LOSS OF BANK BILLS IN A SERIES OF YEARS,
The State Bank of Indiana, whose charter will soon expire, has issued a circular
addressed to numerous banking institutions, with a view to obtain information as to
the average loss of bank bills in a series of years. The resolution adopted by the
State Bank of Indiana was as follows:—
Resolved: That the cashier o f the State B nk be authorized and directed during the next vaca
tion o f this board, both by correspondence and personal conference, so far as practicable, with the
former officers of banking institutions in this country, which have closed their business after com
pleting their chartered existence, to ascertain and report to this board at its next session, a just and
safe per centum o f substituted circulation to be issued to the respective branches ot this bank, for
the amount o f the paper of the bank believed to be actually lost by circulation or otherwise.
Banking institutions generally are in possession of few facts that will elucidate this
matter, and it would be difficult to ascertain the per centage of loss of bank notes, in
consequence of fire and other accidents.
The Catskill Bank, New York, after a business of thirty years, ascertained that
about fifteen thousand dollars of their circulation had not been presented for redemp
tion, nearly all of which is probably gone beyond recovery, and of course a clear gain
to the institution, as well as a loss to the holders. This loss of $15,000 occurred be
tween the years 1813 and 1843, or up to the adoption of the registry law. Sufficient
time has therefore elapsed to show that this amount, at least, has been destroyed. The
ordinary circulation of the bank is $200,000.
The Mechanics’ Bank of Baltimore has been in business forty-seven years, with a
circulation ranging from $300,000 to $600,000, its present average being about
$428,000.
Of the bills issued between the years 1806 and 1839, the amount now outstanding
after a lapse of at least ten years, is $26,190, v iz :—
Between 1806-7...............
“
1808-17.............
“
1817-21.............
In
1822...................
{(
1823...................
M 1824.....................
«
1827...................
<( 1828...................
“
1829...................
• Total.....................
........
........
280
160
........
........
........
2,200
650
185
In
“
“
“
“
“
“
“
1831.................................
1833................................
1834.................................
1835................................
1836................................
1837...........
1838................................
1839................................
$535
555
275
240
305
35
190
990
$26,190
being an annual average loss of nearly $800.
This is, however, beyond the ordinary loss of bank notes. It will be seen that the
loss above stated was mainly during the period of -1808-17. It is a curious fact that
$15,000 of the bills of this bank was sent to the Canadian frontier during the war of
1812-13 to pay the U. S. troops, which are supposed to have been lost in the River
St. Lawrence. These were $5 bills.
The sum of $20,000, issued by the Union Bank of Maryland, was sent at the same
time for the same purpose, all of which shared a similar fate.
Of the above sum of $26,190, the denominations were as follows:—
Fifties.................................... . . .
Tw enties......................................
T en s..............................................
§>200
1,020
1,830
F iv e s ..........................................
Small notes...............................
Post n otes.................................
$20,195
1,695
1,250
The $1,250 post notes of the Mechanics’ Bank, dated in 1827, were issued to a gen-
59t
J o u r n a l o f B a n k in g , C u r r e n c y , a n d F in a n c e ,
tleman traveling to the West to buy land. He is supposed to have been lost in a
steamboat on the Mississippi River. Neither he nor the bills have been heard of since.
FINANCES OF THE UNITED STATES FOR 1S52-3.
STATE OF THE TREASURY FOR THE FISCAL YE AR ENDING 3 0 T H JUNE 1 8 5 3 .
RECEIPTS.
Incidental.................................................................
Loan, under act of 28th January, 1 8 4 7 .............
$58,931,865
1,667,084
738,623
16,350
52
99
89
00
Trust Funds, Smithsonian Institution
“
Peruvian Idemnity . . . .
“
Brazilian Idemnity . . . .
“
Chickasaw fu n d ............
“
Navy pension fund........
$61,353,924
15,391
43,200
280,422
107,996
2,469
40
06
00
95
90
27
Customs..................................................................
L a n d s ................■................................................
$61,803,404 58
EXPENDITURES.
Civil, miscellaneous and foreign intercourse.
Interior, (pensions and Indian department)...
W ar....................................................................
Navy....................................................................
Interest on funded debt, (o ld ).........................
Interest and reimbursment of domestic debt.
Redemption of 3 per cent s to ck .....................
“
“ stock of the loan of 1 8 4 2 ....
“
1843.......
“
1846..........................................
“
1847..........................................
“
1847-8.....................................
“
1 8 4 8 ........................................
Premium on redemption stock loans of 1842,’4 6 ,’47 and ’48.
“
“
1842 ...........................
“
“
1843 ...........................
“
“
1846 ...........................
“
“
1847 ...........................
“
“
1848 ...........................
Premium and interest on redemption of stock loan of 1 8 4 3 ....
“
“
“
“
1847____
“
“
“
“
1848____
Commission on stock loan of 1S42..................................................
“
“
“
1843 ..................................................
“
“
“
1846 ..................................................
“
“
“
1847 ..................................................
“
“
“
1848 ......................................
Redemption of treasury notes purloined.............................
Interest on treasury notes ..................................................
Interest on public debt created since 1 8 4 1 .......................
Reimbursment o f treasury notes, prior to 22d July, 1846
“
“
“
per acts of 1846-7 ...........
Trust Funds, Smithsonian Institution
“
A w a rd s..........................
“
Chickasaw fu n d ............
“
Cherokee schools..........
“
Navy pension fund. . .
“
Navy hospital fund . . .
$17,174,955
5,529,535
9,947,290
10,891,639
270
497
1,239
167,495
4,296,862
68,200
1,668,650
500,000
193,300
16,743
24,327
6,305
4,317
294,358
43,683
17.832
8,385
2,203
336
252
178
1,315
256
200
802
3,666,634
7,450
9,250
09
59
87
59
39
25
95
60
50
00
00
00
00
99
59
68
72
99
24
67
51
64
50
50
25
74
62
00
11
85
00
00
$54,043,168
17,923
354,371
120,539
3,033
30,507
27,141
21
38
82
85
68
24
27
$54,596,685 45
598
STATEMENT OF THE CONDITION OF THE SEVERAL BANKS IN THE STATE OF OHIO, TAKEN FROM THE RETURNS MADE TO THE
AUDITOR OF STATE, ON THE FIRST MONDAY OF AUGUST, 1853.
INDEPENDENT BANKS.
T o ta l In d ep en d en t B a n k s.................................................. ..........
Notes and Bills
Discounted.
192,359 75
255,168 33
168,983 12
143,371 49
$2,2 76 ,3 4 2 6 4
Notes o f other
Banks, &c.
Specie.
$ 1 7 ,71 1
11,921
26,832
29,698
13,641
15,702
29,648
24,195
12,757
67
55
66
02
54
32
41
83
22
$ 1 3 ,20 9
12,501
40,165
18,313
14,163
51,146
43,4 55
4 ,497
11,301
Due from other
Banks and
Bankers.
Eastern
Deposits.
00
00
,00
08
00
00
00
00
00
$2,252 13
11,376 38
5 8 4 5 .8 6
34,954 68
43,4 94 27
15,237 70
1,468 4 0
18,562 98
2,478 35
67,683 43
12,387 00
17,478 07
55,625 83
$ 2 4 9 ,7 9 2 65
$ 22 1 ,1 3 7 08
$ 15 3 ,1 4 8 82
$ 31 9 ,9 7 4 69
$42 ,01 7
41,243
4 ,9 2 3
17,012
81,701
48,228
4 3 ,6 2 0
12,223
23,378
46
52
95
81
56
02
05
24
25
OHIO BRANCHES OF STATE BANK.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
A th en s B ra n ch ..............................................................................
A k ro n B ra n ch ................................................................................ ............
B elm on t B ranch , B r id g e p o r t ................................................... ............
C hillicothe B ra n ch ........................................................................______
C om m ercia l Branch, C le v e la n d .............................................
C om m ercia l B ranch, T o le d o .....................................................
D a y ton B ra n ch ............ . ..................... .....................................
D ela w a re C ou n ty Branch, D e l a w a r e ..............................................
E xch an ge Branch, C olu m b u s..................................................
F arm ers’ B ranch, A s h t a b u l a ..................................................
F a rm ers’ B ranch, M a n sfield ......................................................
F a rm ers’ Branch, R i p l e y .......................................................................
2 61,794 10
252,800 15
528 ,66 5 14
157,411 17
121,290 40
$ 4 2 ,8 7 7
41,001
43,717
80,799
59,440
49
05
68
91
64
$ 1 6 ,57 4
62,622
11,580
19,9 14
78,6 30
00
00
00
00
00
$12 ,80 1
9,899
29,656
35,251
58,183
72
59
22
58
95
$ 2 6 ,55 4
92,3 96
55,365
92,505
86,033
87
58
90
26
75
34,165
39,758
50,171
42,907
31,334
45,1 19
38
51
59
74
00
72
7,218
15,584
20,342
7,563
8,455
4,650
DO
00
00
00
00
00
2 ,104
4 ,125
15,714
11,603
3 ,0 7 9
40,449
19
47
97
87
16
55
24,211
168,752
55,6 37
49,631
44,8 08
78,799
39
72
8998
80
80
Journal o f Banking, Currency, and Finance.
1.
2.
3.
4.
5.
6.
'7.
8.
9.
10.
11.
N ames of B anks.
B ank o f G e a u g a ...........................................................................
Canal B an k o f C le v e la n d ......................................... ............
C ity B ank o f C le v e la n d ..................................................... . . . .............
C ity B ank o f C o lu m b u s ...........................................................
C ity Bank o f C in cinnati.............................................................
C om m ercial Bank o f C in cinnati..............................................
Franklin B an k o f Z a n e s v ille .................................................... ...........
M ahoning C ou n ty B ank, Y o u n g s to w n ................................. ...........
S an d u sk y C ity B a n k ................................................ .................. ..........
S en eca C ou n ty Bank, T iffin .....................................................
W estern R eserv e Bank, W a r re n ...........................................
RESOURCES.
13. Farmers’ Branch, Salem................................
14. Franklin Branch, Columbus.........................
15. Guernsey Branch, Washington.....................
19. Knox County Branch, Mount Vernon........
20. Logan Branch, Logan....................................
21. Lorain Branch, E lyria...................................
22. Mad River Valley Branch, Springfield.. . .
23. Marietta Branch..........................................
24. Mechanics’ and Traders’ Branch, Cincinnati
25. Merchants’ Branch, Cleveland.....................
26. Miami County Brauch, Troy.........................
27. Mount Pleasant Branch, Mount Pleasant . .
Muskingum Branch, Zanesville ..................
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
Norwalk Branch............................................
Piqua Branch..................................................
Portage County Branch, Ravenna..............
Portsmouth Branch........................................
Preble County Branch, Eaton.......................
Ross County Branch, Chillicothe.................
Summit County Branch, Cuyahoga Falls .
Toledo Branch................................... ............
Union Branch, Massillon...............................
Wayne County Branch, Wooster.................
Xenia Branch..................................................
Total State Branches...............................
41,047
59,651
46,435
41.380
40,813
50,867
52,810
40,149
44,047
41,667
40,980
51,885
47,392
48,201
41,960
40,460
45,744
45,140
32,502
40,874
45,882
62,010
39,718
85
98
OS
17
63
52
52
98
31
66
79
44
79
69
75
45
79
16
44
85
31
79
61
23,440
27,677
19,201
13,006
14,750
30,025
14,363
8,619
7,468
20,307
15,374
135,805
12,330
7,014
10,368
25,875
5,586
27,816
19,595
500
13,775
13,672
3,093
00
00
00
00
00
00
00
00
00
78
00
00
00
00
00
00
00
00
00
00
00
00
00
10,060
3,524
4,635
3,615
12,045
8,930
7,002
8,468
6,301
5,232
25,526
44,754
25,750
2,343
152
1,891
9,393
23,918
8,683
155,357
53,457
13,976
3,602
97
53
42
78
27
40
83
40
55
43
57
83
08
85
72
00
10
04
24
09
94
76
05
27,879
81,594
50,942
22,317
54,953
72,589
19,231
58,951
90,275
48,213
36,907
55,530
75,011
42,904
35,891
37,325
34,059
77,727
75,238
36,233
24,070
55,619
28,145
38
63
34
35
08
11
38
67
69
61
69
20
37
06
43
71
75
18
76
70
56
96
59
317,841 73
211,773 32
207,621 04
49,150 62
37,586 91
43,153 81
6,422 00
24,433 00
16,709 00
6,615 95
8,336 74
13,801 00
67,088 22
53,439 89
59,485 24
1,135,691 75
$1,682,872 61
$769,355 78
$690,248 51
$2,096,326 39
599
34
82
51
25
04
36
75
12
67
89
61
84
48
29
23
98
35
42
39
99
52
86
73
Journal o f Banking, Currency, and Finance.
16. Harrison County Branch, C adiz...................
17. Hocking Valley Branch, Lancaster.............
18. Jefferson Brauch, Steubeuville.....................
273,321
459,664
200,021
279,205
237,036
27 S,112
255,475
206,566
89,461
288.975
233,298
403,162
388,862
223,271
233,141
292,141
367,465
184,300
195,851
39,953
192,979
487,973
223,053
600
STATEMENT OF THE CONDITION OF
TITE SEVERAL BANKS IN THE STATE OF OHIO— ( c o n t i n u e d .)
RESOUROES.
OLD BANKS.
Due from other
of
Notes a n d B ills
Discounted.
Ba n ks.
1. Bank of Circleville............................................
2. Clinton Bank of Columbus............................... ..........................
S. Lafayette Bank of Cincinnati.........................
4. Bank of Massillon..............................................
888,091 08
Total Old Banks............................................
Notes o f other
Banks, &c.
Specie.
878,198
181,274
58,799
71,640
42
75
67
89
812,407
42,533
53,084
1,762
00
26
00
00
B a n k s and
Bankers.
$5,905
30,286
82,492
3,381
97
87
70
21
Eastern
Deposits.
$239,959
163,883
1,170
308,440
27
24
04
10
8339,913 73
8109,786 26
$122,066 75
$713,452 65
815,180 27
24,794 69
7,575 23
89,351 00
23,041 00
5,616 00
$40,171 04
4,664 31
9,622 23
$12,9S0 68
61,723 13
7,652 51
10,988
8,198
5,249
10,170
24,892
34,338
36,643
6,405
27,880
7,448
■17,472
2,524
71.711
34,819
177,443
1,190
12,684
18,773
FREE BANKS.
1. Bank of Commerce, Cleveland...................................
....................................
2. Bank of Marion..................................................
.....................................
§94,526 37
94,268 00
3. Champaign County Bank, Urbana..................
5. Forest City Bank, Cleveland...........................
G. Iron Bank of Ironton..........................................
7. Merchants’ Bank of Massillon......................... ....................................
8. Miami Valley Bank, Dayton...........................
9. Pickaway County Bank, Circleville............... .
10. Savings Bank, Cincinnati.................................
11. Springfield Bank................................................
12. Stark County Bank, Canton............................. .........................
13. Union Bank,* Sandusky City.............................
Total F re e Banks..........................................
Grand total....................................................
77,954 70
22,663 56
9,877
6,040
11,030
29,591
21,564
20,700
12,299
7,399
5,572
18
32
01
02
00
79
90
86
39
8171,625 66
00
00
00
00
00
00
00
00
00
42
03
43
76
84
23
23
61
59
19,037
35,690
24,978
44,847
79,038
25,398
27,707
10,840
33,203
59
91
63
33
59
33
23
14
34
$202,771 00
$398,425 72
$383,098 41
82,444,204 65 $1,303,050 12
$1,363,889 80
$3,512,852 14
Journal o f Banking, Currency, and Fi\
N ames
RESOURCES.
INDEPENDENT BANKS.
N ames
of
B an k s.
Total Independent Banks....................... .
3,557
63
1,060
10,553
50
23
96
84
7,330 76
356 06
13,456 35
$36,378 70
$5,000
1,242
500
30,283
8,943
42,455
4,008
850
21,345
00
00
00
42
79
08
87
00
27
Other
Resources.
$400
10,918
1,135
90,453
72,213
7,380
8,868
610
59,016
00
02
91
96
70
07
63
63
02
Total
Resources.
$402,916
363,945
365,826
763,677
347,113
591,770
538,018
330,782
354,703
45
96
36
51
38
10
45
46
95
225,505 64
5,900 00
322 75
658,011 02
$1,0S8,142 94
$120,528 43
$251,319 69
$4,716,765 64
$ 20,000 00
20,000 00
20,000 00
538 00
25,866 56
41.250 00
31.250 80
9,272 66
30,599 00
18,700 00
23,750 00
1,622 04
721 63
303 60
21,100 00
20,000 00
20,000 00
$500
3,140
3,202
5,000
2,082
00
00
09
00
00
$5,671
2,794
822
5,470
10,602
11
60
34
23
48
$394,680
493,647
417,244
809,393
1,075,834
25
92
38
82
11
4,821
4,743
6,697
4,400
1,596
00
66
21
00
50
6,901
4,304
471
4,907
5,753
2,997
69
72
43
39
26
00
363,560
413,380
495,837
350,828
392,691
313,306
72
25
74
15
21
47
001
03
00
00
00
27
00
00
00
00
$1,447 18
2. Akron Branch..................................................
3. Belmont Branch, Bridgeport.........................
4. Chillicothe Branch...........................................
5. Commercial Branch, Cleveland.....................
6. Commercial Branch, Toledo...........................
7. Dayton Branch................................................
8. Delaware County Branch, Delaware...........
9. Exchange Branch, Columbus.........................
10. Farmers’ Branch, Ashtabula.........................
11. Farmers’ Branch, Mansfield...........................
12. Farmers’ Branch, R ip le y ............................. .
$121,651
85,970
94,000
180,255
63,208
5,000
144,450
100,503
67,600
Real Estate
and Personal
Property.
SAFETY FUND.
OHIO BRANCHES OF STATE BANK.
1. Athens Branch................................................
Bonds deposited
with State
Treasurer.
Journal o f Banicing, Currency, and F inance.
1. Bank of Geauga..............................................
2. Canal Bank of Cleveland...............................
3. City Bank of Cleveland.................................
4. City Bank of Columbus.................................
5. City Bank of Cincinnati.................................
6. Commercial Bank of Cincinnati................... .
7. Franklin Bank of Zanesville.........................
8. Mahoning County Bank, Youngstown..........
9. Sandusky City Bank.......................................
10. Seneca County Bank, Tiffin...........................
11. Western Reserve Bank, Warren...................
Checks
and other cash
items.
STATEMENT OF THE CONDITION OF THE SEVERAL BANKS IN THE STATE OF OHIO— (CONTINUED.)
RESOURCES.
OHIO BRANCHES OF STATE BANK.
Checks
and other cash
N am es
B a n k s.
ite m s .
Farmers’ Branch, Salem ................................................ .............
790 55
Franklin Branch, Columbus........................................................
1,907 18
Guernsey Branch, W ashington..................... .............................
65 00
Harrison County Branch, Cadiz..................................................
...............
Hocking Valley Branch, Lancaster............................................
...............
Jefferson Branch, Steubenville....................................................
...............
Knox County Branch, Mount Vernon........................................
. . *.........
Logan Branch, Logan..................................................................
...............
Lorain Branch, Elyria...................................................................
293 75
Mad Biver Valley Branch, Springfield......................................
160 49
Marietta Branch.............................................................................
1,681 32
1,495 64
Mechanics’ and Traders’ Branch, Cincinnati.............................
Merchants’ Branch, Cleveland....................................................
6,998 95
Miami County Branch, Troy........................................................
...............
Mount Pleasant Brauch, Mount Pleasant..................................................1,000 00
Muskingum Branch, Zanesville........................................
5,674 83
Norwalk Branch............................................................................
4,604 00
Piqua Branch.................................................................................
4,547 00
Portage County Branch, Ravenna..............................................
1,049 34
Portsmouth Branch.......................................................................
151 00
Preble County Branch, E a ton ....................................................
5,000 00
Ross County Branch, Chillicothe................................................
341 56
...............
Summit County Branch, Cuyahoga Falls..................................
Toledo Brauch..............................................................................
...............
Union Branch, Massillon........ .....................................................
185 40
...............
Wayne County Branch, Wooster................................................
Xenia Branch................................................................................
...............
Total State Branches
$75,717 68
Safety Fund.
Real Estate
and Personal
Property.
70
54
12
43
64
11
72
20
88
81
13
17
40
IS
54
61
76
07
46
16
87
44
99
Total
Resources.
408,808 57
673,193 68
346,568 47
387,277 74
394,861 08
475,665 98
376.834 20
347,480 37
263,376 55
429,189 84
388,663 74
725,196 26
613,442 20
350,843 32
351,523 67
430,166 58
518,353 75
402 ,23 0 23
361,950 16
308,271 79
357,733 20
669,850 Hi
344,919 50
4,022 00
3,740 06
6,000 00
13,030 22
8,942 76
21,640 11
491,856 14
365,852 68
394,910 20
$ 143,545 54
$ 28 2 ,5 3 9 27
$ 16 ,69 9 ,4 2 4 93
00
00
00
00
00
60
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
869 64
24,183 53
27,500 00
17,600 00
27,500 00
$ 823,127 40
20,000
31,250
20,000
20,000
20,000
20,317
20,COO
20,000
19,860
20,000
20,000
17,000
23,750
20,000
20,000
20,000
28,750
20,000
20,450
20,000
20,000
27,500
20,000
4,179 78
600
2,948
5,740
5,352
00
76
42
88
400
1,099
2,982
4,660
7,320
12,523
2,208
1,000
800
7,785
1,021
4,423
3,400
00
80
17
63
14
13
25
00
00
00
36
53
00
Other
Resources.
8,088
7,923
4,668
4,804
9,472
9,471
7,950
7,325
4,568
1,649
10,234
8,242
20,823
4,900
8,009
5,997
19,965
17,760
4,096
11,801
2,567
7,885
3,122
Journal o f Banking, Currency, and Finance.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
of
*
OLD BANKS.
Ox -tf* CO tO
Bank of Circleville...................................
Clinton Bank of Columbus....................... .
Lafayette Bank of Cincinnati...................
Bank of Massillon......................................
Ohio Life Insurance and Trust Company
Total Old Banks......................................................................
...............
...............
...............
...............
Bank of Commerce, Cleveland......................... ...........................
Bank o f Marion..............................................................................
Champaign County Bank, Urbana . ...........................................
Franklin Bank of Portage County, Franklin............................
Forest City Bunk, Cleveland........................................... ...........
17,811 88
...............
82 30
...........
6,591 19
6. Iron Bank of Ironton............ ......... ..........................................
..............
7.
8.
9.
10.
11.
12.
13.
Merchants! Bank of Massillon....................................................
Miami Valley Bank, Dayton.......................................................
Pickaway County Bank, Circleville..........................................
Savings Bank, Cincinnati................. . . . . ; .................................
Springfield Bank......................................................................... ..
Stark County Bank, Canton.......................................................
Union Bank, Sandusky C it y .................................................... ..
Total Free Banks...................................................................
Grand total...............................................................................
$93,343 12
$225,844 47
$3,342,296 70
1,485 00
5,615 00
74 89
...............
...............
599 68
22,627 40
$44,887 34
$156,983 72
$76,233 07
189,695 68
53,714 50
$2,180 21
1,703 01
257 91
$1,165 01
564 77
876 00
$259,499 53
400,449 59
183,836 94
45,000
35,916
82,658
163,933
65,587
58,000
80,029
3S.920
33,100
00
38
87
03
76
00
07
50
17
$922,789 03
$2,834,059 37
9,625
1,224
215
200
3,212
1,000
415
1,950
4,469
70
58
75
00
51
00
01
00
92
918 06
126 38
916 01
4,44S 83
548 21
1,979 67
220,376
158,226
206,222
419,761
492,747
367,018
270,235
101,463
317,774
24
75
77
86
30
68
10
35
76
$26,454 60
’ $11,542 94
$3,397,612 87
$383,871 69
$771,246 37
$28,156,100 14
603
20
29
90
31
$185,288 98
40,555 49
Bonds deposited
with Auditor
o f State.
FREE BANKS.
1.
2.
3.
4.
5.
$735,775
985,334
977,510
643,676
43,979 11
30,549 17
13,417 84
Journal o f B anking, Currency, and Finance.
1.
.
.
.
.
STATEMENT OF THE CONDITION OF THE SEVERAL BANKS IN THE STATE OF OHIO— (CONTINUED.)
INDEPENDENT BANKS.
N ames
B an k s.
Bank of Geauga..............................................
Canal Bank of Cleveland...............................
City Bank of Cleveland.................................
City Bank of Columbus.................................
City Bank o f Cincinnati..................................
Commercial Bank of Cincinnati.....................
Franklin Bank of Zanesville...........................
Mahoning County Bank, Youngstow n........
Sandusky City Bank.......................................
Seneca County Bank, Tiffin...........................
Western Reserve Bank, Warren .................
Total Independent Banks.........................
•
1.
2.
3.
4.
5.
G.
7.
8.
9.
10.
11.
12.
§ 5 0 ,0 0 0
50.0 00
50.000
148,830
83.000
50.0 00
100,000
50.0 00
62,5 00
00
00
00
00
00
00
00
00
00
Circulation.
§ 1 1 6 ,8 4 3
82,918
96,574
169 ,77 2
4 4,0 34
5,360
137,916
85,383
64,848
00
00
00
00
00
00
00
00
00
Safety Fund
Stock.
§121 ,65 1
50.000
100,000
260,021
50.000
5 ,000
144,450
141,556
67,600
03
00
00
00
00
00
00
00
00
Due to Banks
and
Bankers.
$ 1 0 ,09 2
19,527
13,751
30,372
33,419
54,6 50
5,337
15
15
00
39
76
10
28
12,169 30
Due
to Individual
Depositors.
$ 6 9 ,52 2
96,823
91,661
134,682
133,493
304 ,13 9
132,738
48,1 49
116,058
08
51
63
12
60
83
66
05
91
15,000 00
220,056 00
225,505 64
3 ,000 16
122,798 28
§7 1 9 ,3 3 0 00
§1 ,0 2 3,10 4 00
$ 1,1 65 ,7 8 3 67
$ 18 2 ,3 1 9 89
$1,3 40 ,0 6 2 67
Safety Fund at
Credit o f Board
o f Control.
OHIO BRANCHES OF STATE BANK.
Athens Branch..................................................
Akron Branch..................................................
Belmont Branch, Bridgeport.........................
Chillicothe Branch............................................
Commercial Branch, Cleveland.....................
Commercial Branch, Toledo...........................
Dayton Branch..................................................
Delaware County Branch, D elaw are...........
Exchange Branch, Coulumbus.......................
Farmers’ Branch, Ashtabula.........................
Farmers’ Branch, Mansfield...........................
Farmers’ Branch, Ripley.................................
Capital Stock.
§1 0 0 ,0 0 0
100,000
100,000
250,000
175,000
00
00
00
00
00
§ 2 0 0 ,6 7 2
200,000
194,233
402 ,32 6
311,460
00
00
00
00
00
107 ,00 0
93,500
125,000
100,000
100,000
100,000
00
00
00
00
00
00
163,391
181,132
230,126
191,863
198,947
175 ,35 2
00
00
00
00
00
00
$ 1 0 0 00
1,000 00
500
1 ,300
450
2,247
1,900
3,665
00
00
00
00
00
00
$14 ,38 8
6,691
359
9,225
30,353
'
16
42
66
87
70
$ 63 ,88 7
145,312
107,579
113,539
485,355
73
23
79
39
82 .
10,967 61
2,649 62
25,418 18
66,411
124.387
99,180
40,3 88
66,507
24,982
95
51
03
14
58
73
4 ,2 6 2 73
8 10 02
Journal o f Banking, Currency, and Finance.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
of
57,969 63
164,033 59
35,726 94
69,583 49
80,814 92
162,395 38
50,997 33
33,755 89
44,622 85
116,777 89
72,756 54
379,363 62
184,837 63
40,652 27
30,197 01
101,550 93
76,651 36
91,695 65
48,663 57
10,533 45
71,422 98
216,827 88
29,118 38
196,800 00
302,587 00
194,800 00
197,265 00
198,598 00
192,251 50
193,061 00
197,482 00
124,332 00
188,186 00
199,874 00
117,479 00
233,253 00
189,421 00
199,087 00
199,880 00
235,379 00
189,782 00
201,349 00
190,520 00
172,783 00
263,288 00
196,068 00
1,250 00
• 1,200 00
4,364 03
150,000 00
88,000 00
100,000 00
265,000 00
163 263 00
190,985 50
850 00
5,800 00
1,550 00
8,592 85
1,332 94
2,347 07
42,466 70
96,905 60
72,900 73
$4,141,175 00
§7,642,276 00
$49,387 48
$438,863 72
$3,720,764 91
1,700 00
250 00
1,860 00
175 00
339
2,700
1,345
■ 2,200
6,302
25
00
00
00
20
C05
790 00
3,500 00
850 00
1,150 00
27,594 51
10,871 65
3,009 32
3,371 77
2,397 02
1,922 65
5,186 63
1,717 33
744 00
3,256 43
5,281 09
119,799 13
46,741 70
9,306 01
1,682 65
9,657 62
45,866 50
3,461 72
1,439 47
1 00
1,305 86
16,001 24
788 59
100,000 00
175,000 00
100,000 00
100,000 00
100,000 00
100,000 00
100,000 00
100,000 00
74,675 00
100,000 00
100,000 00
100,000 00
125,000 00
100,000 00
100,000 00
100,000 00
125,000 00
100,000 00
103,000 00
100,000 00
100,000 00
150,000 00
100,000 00
Journal o f Banking, Currency, and Finance.
13. Farmers’ Branch, S a lem ............................... .
14. Franklin Brandi, Columbus...........................
15. Guernsey Brandi, W ashington.....................
16. Harrison County Branch, Cadiz.....................
17. Hocking Valley Branch, Lancaster...............
18. Jefferson Branch, Steubenville.......................
19. Kuox County Branch, Mount Vernon...........
20. Logan Branch, Logan......................................
21. Lorain Branch, Elyria......................................
22. Mad River Valley Branch, Springfield........
23. Marietta Branch...............................................
24. Mechanics’ and Traders’ Branch, Cincinnati.
25. Merchants’ Branch, Cleveland................. . . .
26. Miami County Branch, Troy...........................
27. Mount Pleasant Branch, Mount Pleasant . . .
28. Muskingum Branch, Zanesville.....................
29. Norwalk Branch..............................................
30. Piqua Branch....................................................
31. Portage County Branch, Ravenna.................
32. Portsmouth Branch..................... .................
33. Preble County Branch, E aton.......................
34. Ross County Branch, Chillicothe...................
35. Summit County Branch, Cuyahoga F a lls.. .
36. Toledo Branch..................................................
37. Union Branch, Massillon................................
38. Wayne County Branch, W ooster.................
39. Xenia Branch...................................... ..........
606
STATEMENT OF THE CONDITION OF THE SEVERAL BANKS IN THE STATE OF OHIO— (CONTINUED.)
LIABILITIES.
OLD BANKS.
].
2.
3.
4.
5.
ok
Ba n k s.
Bank of Circleville..........................................
Clinton Bank of Columbus...............................
Lafayette Bank of Cincinnati.........................
Bank of Massillon.............................................
Ohio Life Insurance and Trust Com pany.. .
Total Old Banks..........................................
Capital Stock.
$ 20 0 ,0 0 0
250.000
286 ,30 0
200 .00 0
00
00
00
00
Circulation.
$ 396,613
583,913
116,131
377,682
Safety Fund at
Credit of Board
o f Control.
¥948 17
15,110 90
87,804 14
190 3S
00
00
00
00
$ 93 6 ,3 0 0 00
$ 1 ,4 74 ,3 3 9 00
Bank of Commerce, Cleveland.......................
Bank o f Marion.................................................
Champaign County Bank, U rbana...............
Franklin Bank of Portage County, Franklin
Forest City Bank, Cleveland.........................
Iron Bank o f Ironton........................................
Merchants’ Bank of Massillon.......................
Miami Valley Bank. Dayton .....................
Pickaway County Bank, Circleville.............
Savings Bank, Cincinnati............................
Springfield Bank..............................................
Stark County Bank, Canton...........................
Union Bank, Sandusky City...........................
$ 2 5 ,0 0 0 00
100,000 00
25,240 00
$73 ,44 7 00
173,063 00
48,519 00
95,020
25.000
60.000
70.000
100,000
25.000
25.000
30.000
115,000
36,128
34,165
65,705
161.132
64,667
58.0 00
69,906
34,870
30.000
Total Free Banks........................................
$ 69 5 ,4 4 0 00
$ 8 4 9 ,6 0 2 00
Grand total...................................................
$6,492,245 00
$10,98 9 ,9 2 1 00
Dae to Banks
and
Bankers.
Due
to Individual
Depositors.
$57 ,73 7
114,597
317,865
20,428
23
80
69
88
$ 10 4 ,0 5 3 59
$51.0,629 60
$ 1 0 ,47 2 05
755 75
882 82
$ 13 9 ,5 7 7 02
87,9 33 69
79,2 34 87
FREE BANKS.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
31.
12.
13.
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
60
00
00
$ 2 5 ,8 6 0 00
91
90
21
57
68
37
93
38
17
83,029
57,467
64,663
62,6 23
314,911
177,521
92,749
34,189
149.361
69
82
81
21
04
31
66
48
17
$ 26 8 ,8 2 0 00
$14 8 ,1 6 3 74
$1,333,212
77
$1,4 83 ,9 9 1 15
$ 87 8 ,4 0 0 94
37,960 00
130,000 00
75,000 00
1,703
868
12,895
263
2,539
106,497
1,667
1,379
8,237
6,904,669 95
Journal o f B an k in g, Currency, and Finance.
N ames
INDEPENDENT BANKS.
Bank of Geauga....................................
Canal Bank o f Cleveland...................
City Bauk of Cleveland.....................
City Bank of Columbus.............
City Bank of Cincinnati.......... ..........
Commercial Bank of Cincinnati.' . . . . ,
Franklin Bank of Zanesville .............
Mahoning County Bank, Youngstown
Sandusky City Bank..........................
Seneca County Bank, Tiffin................
"Western Iteserve Bauk, Warren........
Total Independent Banks.............
$5,43S 25
4,766 49
4,174 41
.....
$54,090 00
20,000 00
Discount,
Interest,
&c.
$3,901 88
4,975 71
8,654 81
....
...............................................
8,166 02
43,927 77
20,000 00
18,647 40
8,040 46
..........
5,869 94
.............................................................. 5,69441
.................................. 28,000
003,52774
162 31
$66,509 69
.................
$122,090 00
Dividends
unpaid.
Other
Liabilities.
16 00
$25,467 46
845 10
994 51
"50 00
845 00
2,821 11
45
96
36
51
38
10
45
46
95
658,011 02
11,488 63
$65,926 54
Total
Liabilities.
$402,916
363.945
365,826
763,677
347,113
591,770
538,018
330,782
354^703
$911 00
$30,128 18
$4,716,765 64
$1,999 03
1,000 00
$394,680 25
493,647 92
417,244 38
809,393 82
1,075,834 11
OHIO BRANCHES OE STATE BANK.
1. Athens Branch......................................
2. Akron Branch.................................... .
3. Belmont Branch, Bridgeport.............
4. Chillicotlie Branch...............................
5. Commercial Branch, Cleveland...........
6. Commercial Branch, Toledo. . . . . . . . .
7. Dayton Branch......................................
8. Delaware County Branch, Delaware..
9. Exchange Branch, Columbus..............
10. Farmers’ Branch, Ashtabula ..............
11. Farmers’ Braueb, Mansfield.........
12. Farmers’ Branch, Ripley.....................
13. Farmers’ Branch, Salem .......................
$6,231
3,000
10,305
18,746
25,001
85
00
91
41
08
7,069
4.701
9.090
9,752
12,166
4,715
8,068
60
24
96
67
68
49
42
$1,000 00
30,983 50
...............
...............
28,098 70
. . . . ____
10,000 00
$6,50198
6,60077
4,666 02
11,301 75
16,40585
5,507
4,748
5,938
5,301
7,300
3,323
6,219
02
58
99
99
61
72
56
3,254 40
4,158 96
$826 00
300 00
1,887
1,011
633
1,275
1,606
397
1,066
54
30
58
35
61
51
45
363,560
413,380
495,837
350,828
392,691
313,306
408,808
72
25
74
15
21
47
57
Journal o f Banking, Currency, and Finance.
1.
2.
S.
4.
5.
6.
7.
8.
9.
10.
11.
Surplus or conBills payable
tingent fund, and
and Time
undivided profits.
Drafts.
o
o
608
STATEMENT OP THE CONDITION OP THE SEVERAL BANKS IN THE STATE OF OHIO— (CONTINUED.)
. LIABILITIES.
OHIO BRANCHES OF STATE BANK.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
of
Ban ks.
Franklin Branch, Columbus..................................
Guernsey Branch, Washington.............................
Harrison County Branch, Cadiz.. ...................
HockiDg Valley Branch, Lancaster.....................
Jefferson Branch, Steubenville.............................
Knox County Branch, Mount Vernon.................
Logan Branch, Logan............................................
Lorain Branch, Elyria............................................
Mad River Valley Branch, Springfield...............
Marietta Branch.......................
........................
Mechanics’ and Traders’ Branch, Cincinnati......
Merchants’ Branch, Cleveland..............................
Miami County Branch, T roy.................................
Mount Pleasant Branch, Mount Pleasant...........
Muskingum Branch, Zanesville............................
Norwalk Branch....................................................
Piqua Branch............................. ............................
Portage County Branch, Ravenna.......................
Portsmouth Branch ..............................................
Preble County Branch, E aton.............................
Ross County Branch, Chillicothe.........................
Summit County Branch, Cuyahoga Falls...........
Toledo Branch........................................................
Union Branch, Massillon........................................
Wayne County Brgjich, Wooster...............
Xenia Branch.................................... ....................
Total State Branches
5,522 14
6,173 97
9,815 36
7,608 63
12,133 96
12,832 06
. 6,671 22
14,734 01
13,906 60
4,081 35
255 30
13,086 07
4,965 08
11,313 18
11,454 11
8,170 11
5,249 90
1,617 10
6,949 64
9,558 60
12,750 00
8,032 55
6,241 02
5,518 7 2
19,952 57
$33 7 ,4 4 3 06.
Bills payable
and Time
Drafts.
900 00
. , ............
15,252 31
...............
10,668 91
. . . . _____
.................
$96 ,90 3 4 2
*
Discount,
Interest,
&c.
9,527 48
4,674 29
5,142 12
4,365 03
5,292 39
4,787 50
4,683 62
1,348 06
5,690 08
4,920 36
8,299 31
8,034 77
4,545 73
4,729 74
5,936 92
7,451 65
4,614 20
4,675 10
267 70
.............
7,021 14
5,054 48
Dividends
unpaid.
180 00
5 0 00
448 00
3 52 00
525 00
342 00
378 00
16Q 00
380 00
Other
Liabilities.
2,151 82
1,153 95
Total
Liabilities.
1,032 76
2,761 75
1,493 47
673,193
346 ,56 8
387,277
394,861
476 ,66 5
3 7 6 ,83 4
347 ,48 0
263,376
4 2 9 ,18 9
388,663
725 ,19 6
613,442
350,843
351,523
430,166
518,353
4 0 2 ,23 0
3 6 1 ,95 0
308,271
357,733
669,850
344,919
401.856 14
365,852 68
394,910 20
$ 1 6 ,6 9 9 ,4 2 4 93
1,077
1,670
8,269
2,920
1,060
749
1,741
48
10
68
31
62
84
40
2,489 03
1,211 98
1,289 09
2,382 82
746 66
1,045 92
6,173 24
4 ,2 4 0 42
4,955 11
582 00
1,863 4 2
792 00
1,637 22
$ 21 0 ,2 5 6 28
$4,5 23 00
$ 57 ,83 2 06
•
68
47
74
08
98
20
37
55
84
74
26
20
32
67
58
75
23
16
79
20
01
50
Journal o f Banking, Currency, and Finance.
N ames
Surplus or contingent fund, and
undivided profits.
OLD BANKS.
1.
2.
3.
4.
5.
Bank of Circleville................................................
Clinton Bank of Columbus....................................
Lafayette Bank of Cincinnati...............................
Bank of Massillon..................................................
Ohio Life Insurance and Trust Company...........
$72.000 00
20,710 74
149,266 92
45,375 05
Total Old Banks................................................
...............
$4,500 00
......................................
1,964 00
5,635 40
.............
.............
8,452 68
$3,976 80
1,001 85
4,091 07
$287,352 71
$8,452 68
$9,069 72
$1,964 00
Bank of Commerce, Cleveland ...........................
Bank of Marion.......................................................
Champaign County Bank, Urbana.......................
Franklin Bank of Portage County, Franklin.. . .
Forest City Bank, Cleveland................................
Iron Bank of Ironton........................... , ................
Merchants’ Bank of Massillon..............................
Miami Valley Bank, D ayton.. . ........................
Pickaway County Bank, Circleville...................
Savings Bank, Cincinnati......................................
Springfield Bank....................................................
Stark County Bank, Canton..................................
Union Bank, Sandusky City.................................
$2,236 88
2,661 83
1,521 17
$1,600 00
30,000 00
$7,166 58
6,035 32
2,079 08
...............
...............
500 00
3,176 42
12,000 00
Total Free Banks..............................................
$17,028 66
$43,600 00
Grand total........................................................
$708,334 12
$10,135 40
$735,775 20
985,334 29
977,510 90
643,676 31
$3,342,296 70
FREE BANKS.
1.
2.
3.
4.
03 5.
^ 6.
'7.
8.
9
10.
IF.
12.
13.
A uditor
of
4,314 64
1,267 18
3,898 52
1,074 49
162 45
$41,083 25
$662 45
$271,046 10 * $326,335 79
$8,060 45
24
75
77
86
30
68
10
35
76
$3,897,612 87
$98,095 64
$28,156,100 14
W . D. MORGAN, Auditor o f State.
609
220,376
158,226
206,222
419,761
492,747
367,018
270,235
101,463
317,774
1,497 85
2,958 75
5,743 08
10,629 58
1,850 54
Sta te ’ s Office, Columbus, Ohio, August 2d, 1853.
$259,499 53
400,449 59
183,836 94
Journal o f Banking, Currency, and Finance.
^
F
*
G
|
610
Journal o f Banking, Currency, and Finance.
TAXATION IN NEW ENGLAND CITIES IN 1853,
We give below a summary statement of the assessed value of property in several
cities of the New England States:—
* LO W ELL.
The valuation of the real and personal property in Lowell for the present year is
as follows:—
Residents’ real and personal estate.............................................
Corporations’
do.
Nonresidents’
do.
$7,834,462
11,146,250
1.877,250
Total............................................................
$20,857,962
Whole number of rateable polls, 7,632.
The rate o f taxation is 78 cents per $100.
The appropriations for the year 1853 are—
C it y ..................................................................................................
County Tax.....................................................................................
State Tax........................................................................................
$138,500 00
16,866 98
8,604 00
$163,970 98
PORTLAND, MAINE.
There are in the city of Portland 270 persons and companies who pay over $100
each, and 11 who pay over $1,000. The largest individual payer is John B. Brown,
who is assessed $2,733 29. The rate of taxation is 70 cents to $100, amounting to
$129,837 01. The whole valuation of property in the city is—
Real estate, $9,783,280; Personal estate, $7,972,832— Total, $17,756,112.
The number of rateable polls is 3,053. The increase of valuation since last year is
$1,287,909.
PORTSMOUTH, N. H.
There are only 68 individuals and companies in Portsmouth who are assessed each
upwards of $100. The highest is William Jones, $781 20, and William Jones & Son
pay $824 82. The number of rateable polls is 1,474. The whole valuation of tax
able property is $5,084,704. The rate of taxation is 79J cents on $100, and the taxes
amount to $43,241 61.
PRO PE RTY IN NEWBERYPORT.
The value of property in the city of Newburyport is $5,655,000, namely, real es
tate, $2,780,000; personal property, $2,875,000. The rate of taxation is 75 cents on
$100; the amount to be raised, $46,014 76— viz., State tax, $2,787 ; county tax,
$5,227 76 ; city tax, $38,000.
SYSTEM OF TAXATION IN W URTEMRERG.
The subjoined statement o f the plan o f taxation in Wurtemberg, one of the G er
man States, is derived from a reliable correspondent of the Evening Post:—
Our time claims this idea as a new one, and I am not in a condition to dispute it
The main principle is to tax property higher when it is found in large quantities with
any individual, than when in smaller. The avowed object is to operate through tax
ation against overgrown fortunes. This idea was made the basis of an income tax in
Wurtemberg, in the following manner: Every individual or corporation is required to
state its income, arise it as it may— rents, interest, annuities, salaries, and feudal ten
ures, not even excepting revenues arising from religious endowments, are subject to
the tax. If the income amounts to 500 guilders per annum, one-tenth of it— say 50
guilders— is placed upon the grand valuation, and the same taxes levied upon it as
upon the valuation of real estate. For sums over 500 and up to 1,000, two-tenths are
to be placed upon the valuation; for sums over 1,000 up to 1,800, four-tenths; and
for all sums of and over 2,500, the whole amount is placed upon the valuation. The
tax levied upon these sums now is 50 per cent, so that
Journal o f Banking, Currency, and Finance.
G il
An income of 500 guilders pays 1 dollar— J- per cent.
“
1,000
“
“
4
1
it
1,800
“
“ H i
“
H
ii
u
u
2,500
“
5
I can hardly calculate what per centage it would produce on the capital, since the
incomes vary materially in per centage.
Money produces here seldom over five per cent, and with the higher sums in any
one hand, the tax amounts to a good deal. It must be clear that such an income tax
operates also as a check upon high interests. If a similar tax law existed in the Uni
ted States it would require from many a money lender double the sum upon the tax
list that he pays at present. That this law taxes some things twice, must be clear.
OF AUSTRIA.
1845
OF AUSTRIA FROM
1845 ...........florins.*
1846 ...........................
1847 ...........................
1848 ...........................
1849 ...........................
1850 ...........................
1 8 5 1 ........................
1853 ...........................
Revenue.
166,466,323
164,236,758
161,738,151
122,127,354
153,769,538
196,253,220
219,405,140
226,365,108
Expenditures.
152,954,867
163,106,265
168,798,485
167,238,000
275,675,342
251,118,082
281,728,770
279,812,439
ENDITUKE IN
Civil list................................................
Cabinet Chancellery...........................
Reiclm ath............................................
Ministerial Council.............................
Foreign Affairs.....................................
Interior . . . ' ..........................................
Police and Gendarmerie....................
War.............. .........................................
Finance ................................................
J ustice...................................................
Religion and Public Instruction........
Commerce and Public works.............
Agricultural and Public Mining . . . .
to
1853.
Surplus.
7,611,456
1,136,493
Deficit.
7,060,334
45,110,646
121,905,804
54,864.862
62,223,630
53,447,331
1852.
5,950,419
41,062
157,628
59,822
1,724,581
17,286,528
9,276,155
110,843,321
25,152,683
18,477,260
4,336.800
15,109,099
283,847
15,937 less than in 1851
472,077 less than in 1851
U
U
849,806 “
1,275,678 more “
“
«
((
3,544,027 “
u
u
4,270,372 “
((
((
950,608 “
t<
<1
654,929 “
((
«
2,217,196 “
((
32,828 less «
Ordinary receipts in 1852 ...............................................................florins.
Being an increase on 1851 o f .....................................................................
Extraordinary receipts in 1852 .................................................................
Being a decrease on 1851 of.................................................... ..................
Ordinary expenditures....................... .......................................................
Extraordinary expenditures................ ....................................................
224,806,260
22,792,582
1,558,840
15,932,614
274,587,121
5,225,318
PROPOSED DECIMAL CURRENCY IN ENGLAND.
The report o f the parliamentary select committee on decimal coinage has just been
printed. The plan recommended by the committee is that the pound should be the
unit, and the relation o f the several coins as follows :—
Sovereign...................
Half sovereign........... ...................
...................
.....................
...................
Sixpence..................... ...................
New silver coin
500
250
100 New copper coin
50
25
* Florin 2s. Id., or 50cts.
612
Journal o f Banking, Currency , and Finance .
VALUE OF REAL ESTATE IN KING’ S COUNTY, NEW YORK.
The committee on equalization of taxes, to whom was referred the assessment rolls
of the several towns and wards of King’s County, submitted their report to the Board
of Supervisors, from which it appears that during the year 1853 there has been an in
crease in the value of real estate of $11,173,961 over the year preceding, as is shown
by the following statement:—
Brooklyn, 1st Ward........
Brooklyn, 2d Ward........
Brooklyn, 3d Ward........
Brooklyn, 4th W a rd .. . .
Brooklyn, 5th Ward . . . ,
Brooklyn, 6th W ard... . .
Brooklyn, 7th Ward........
Brooklyn, 8th Ward........
Brooklyn, 9th Ward........
Brooklyn, 10th W ard .. .
Brooklyn, 11th W a rd .. .
Williamsburg, 1st Ward
Williamsburg, 2d Ward.
Williamsburg, 3d Ward.
Bush wick .......................
Flatbush..........................
Flatlands.........................
New Lot 4.........................
Gravesend........................
•New Utrecht...................
1 851
$4,611,725
2,731,200
6,713,200
4,267,625
2,459,350
11,090,540
6,087,267
2,425,876
3,753,762
7,156,532
7,217,650
5,903,640
2,855.655
2.026,414
2,894,587
835,218
441,762
518,832
443,715
1,219,295
$75,751,873
1852.
$4,242,100
2,572,850
6,063,200
4,100,350
2.339,825
8,881,924,
4,887.231
2,253,765
2,965,784
5 ,830,300
5,769,805
5,539,112
2,188,365
1,711,988
2,139,110
654,776
442,586
495,781
416,460
1,087,650
Increase.
$369,725
158,350
650,000
262,175
119,525
2,208,616
1,200,036
182,110
787,978
1,236,232
1,447,845
364,528
670,290
814,476
755,176
180,442
23,051
27,255
126,645
$64,577,912 $11,173,961
As will be perceived, there has been an increase in the valuation of real estate in
every ward and town in the county, with the exception of Flatlands, which shows a
decrease of $794.
CURRENCY OF BUENOS AYRES.
The “ Casa de Moneda,” literally, house of money, is a remarkable institution. It is
without fixed limits to its issues, and placed entirely beyond the possibility of failure
to meet all its “ promises to pay.” On the face of its bills it promises to meet all the
liabilities with “ moneda corriente,” i. <?., with paper money ot its own making. If a
“ run” should be made upon the bank, it could manage the difficulty with the greatest
ease; two clerks would be quite sufficient, one to receive the bills, and the other to
pay them out! We doubt whether a more admirable system of security against fail
ure could have been devised by the great Nicholas Biddle himself
Originally it belonged to a chartered company, under the title of “ Bank of Discount,”
was possessed of capital, and promised to pay in “ metalica.” It is now a provincial
institution, with no capital but the credit of the provincial government, and it promises
accordingly.
The lowest point of depreciation which this currency ever reached was in August
1840, during the blockade, when one silver dollar was worth thirty-five paper dollars.
In its best days it was at a premium, worth more than silver or gold.
THE BANK OF ENGLAND.
A correspondent of the New York Observer, who visited the Bank of England, thus
describes some of its operations:—
I have been making a most interesting and instructive visit to the Bank of England.
For admission into the interior of this remarkable building, to observe the operations
of an institution that exerts more moral and political power than any sovereign in
Europe, you must get an order from the Governor of the Bank, and this was given to
me through the Barings, whose kindness, especially that of Mr. Sturgis, I have constant
Journal o f Banking , Currency, and Finance .
613
ly experienced. The Bank building occupies an irregular area of eight acres of ground
— an edifice of no architectural beauty, with not one window towards the street, being
lighted altogether from the roof or the inclosed areas. The ordinary business apart
ments differ from those in our banks only in their extent— a thousand clerks being con
stantly on duly, and driven with business at that. But to form any adequate idea of
what the Bank is, we must penetrate its recesses, its vaults and offices, in which we
shall see such operations as are not known in Wall-street. I was led on presenting my
card of admission, into a private room, where, after the delay of a few moments, a
messenger came, and conducted me through the mighty and mysterious building.
Down we went into a room where the notes of the IBank received yesterday were
now examined, compared with the entries in the books, and stored away. The Bank
o f England never issues the same note a second time. It receives in the ordinary
course of business about £800,000, or -$4,000,000, daily in notes. These are put up in
parcels accordingto their denomination, boxed up with the date of their reception, and
are kept ten years; at the expiration of which period they are taken out and ground
up in the mill, which I saw running, and made again into paper. If in the course of
those ten years any dispute in business or lawsuit should arise, concerning the pay
ment of any note, the Bank can produce the identical bill. To meet the demand for
notes so constantly used up, the bank has its own printers, its own engravers, all at
work under the same roof, and it even makes the machinery by which the most of its
own work is done. A complicated but beautiful operation is a register, extending
from the printing office to the banking offices, which marks every sheet of paper that
is struck off from the press, so that the printers cannot manufacture a single sheet of
blank notes that is not recorded in the IBank. On the same principle of exactness, a
shaft is made to pass from one apartment to another, connecting a clock in sixteen
business wings o f the establishment, and regulating them with such precision, that the
whole of them are always pointing to the same second of time.
In another room was a machine exceedingly simple for detecting light gold coins.
A row of them dropped one by one upon a spring scale ; if the piece of gold was of
the standard weight the scale rose to a certain bight, and the coin slid off upon one
side into a b o x ; if less than the standard it rose a little higher, and the coin slid off
upon the other side. I asked the weigher what was the average number of light coins
that came into his hands, and, strangely enough, he said it was a question he was not
allowed to answer.
The next room I entered was that in which notes are deposited which are ready for
issue. “ We have thirty-two millions of pounds sterling in this room,” the officer re
marked to me, “ will you take a little of it ?” I told him it would be vastly agreeable,
and he handed me a million sterliug, (five millions of dollars,) which I received with
many thanks for his liberality ; but he insisted on my depositing it w;th him again, as
it would be hardly safe to carry so much money into the street. I very much fear
that I shall never see that money again, In the vault beneath the floor was a direc
tor and cashier counting the bags of gold which men were pitching down to them,
each bag containing a thousand pounds sterling just from the mint. This world of
money seemed to realize the fables of Eastern wealth, and gave me new and strong
impressions of the magnitude of the business done here, and the extent of the relations
of this one institution to the Commerce of the world.
CITY DEBTS FOR RAILROADS.
Mr. Ellet, civil engineer, furnishes an account of the debts of several cities for rail
roads, the aggregate of which is as follows:—
Philadelphia
Pittsburg.. .
Wheeling ..
Baltimore . .
St. L ou is.. .
Cincinnati . .
Louisville . .
$8,150,000
3.450.000
1.100.000
7.830.000
2.400.000
1.050.000
1.500.000
New Orleans...
Covington
Chillicothe . . . ,
Marietta...........
3,500,000
Aggregate
$29,330,000
200,000
50,000
100,000
It may be interesting to know the proportion of indebtedness between the individ
uals in these corporations and between those in some of the states. In Philadelphia,
there is to each inhabitant a railroad debt of $20; in Pittsburgh $34; iu Wheeling
$55 ; in Baltimore $43 ; in St. Louis $30; in Cincinnati $7; in Louisville $25 ; in New
Orleans $23; in Covington $17 ; in Chillicothe $7; in Marietta $20.
614
Commercial Regulations.
COMMERCIAL REGULATIONS.
GENERAL CUSTOMS REGULATIONS.
INSTRUCTIONS NO. 8 .— TO COLLECTORS AND OTHER OFFICERS OF THE CUSTOMS.
T reasu ry Departm ent,
August 25th, 1853.
It is deemed advisable for more convenient use and reference by officers of the
Customs to embody in a single circular several important instructions issued by the
Department from time to time in regard to the Collection of the Revenue from Cus
toms.
The Act of March Sd, 1851, entitled “ An Act to amend the acts regulating the ap
praisement of imported merchandise, and for other purposes,” provides, in its first
section ; “ That in all cases where there is or shall be imposed any ad valorem rate of
duty on any goods, wares, or merchandise, imported into the United States, it shall be
the duty of the Collector within whose district the same shall be imported or entered,
to cause the actual market value, or wholesale price thereof, at the period of the ex
portation to the United States, in the principal markets of the country from which the
same shall have been imported into the United States, to be appraised, estimated, and
ascertained; and to such value or price shall be added all costs and charges, except
insurance, and including in every case a charge for commissions at the usual rates, as
the true value at the port where the same may be entered, upon which duties shall be
assessed.”
It will be perceived that the legal provision, above cited, requires the duties to be
assessed on the “ actual market value or wholesale price” of merchandise in the prin
cipal markets of the country from which imported “ at the period of the exportation to
the United States,” and on all costs and charges except insurance.
When, however, goods are imported from a country other than that of their growth,
production, or manufacture, and the invoice or appraised value is less than “ the actual
market value or wholesale price thereof” in the principal markets of the country of
the growth, production, or manufacture, at the period of the exportation to the United
States, Collectors will report such cases, with all the facts and circumstances, to the
Department, and await its instructions, before the final adjustment of duties.
The “ period of exportation ” where the merchandise is laden on board a vessel in
the shipping port of the country of origin, or in which it was purchased or procured
for shipment to an owner, consignee, or agent residing in the United States, must be
deemed and taken to be the date at which the vessel leaves the foreign port for her
destination in the United States.
That period will ordinarily be established by the production of the clearance grant
ed to the vessel at the foreign port of departure.
Importations may also be made from interior countries remote from the sea-board,
and having no shipping ports of their own, through the seaports of other countries.
The “ period of exportation” in such cases, at which the actual market value and
wholesale price of the merchandise in the principal markets of the country whence
imported into the United States, is to be ascertained and estimated as the basis of
dutiable value, is the date at which the merchandise in question leaves said interior
country, destined in good faith, and the regular and usual course of trade, for ship
ment to some owner, consignee, or agent, residing in the United States; of which sat
isfactory proof must be exhibited at the time of entry.
That period will be established ordinarily by the date of authentication of the in
voice by the consular certificate.
In the absence, satisfactorily explained, of the proofs above indicated, showing the
date of exportation from the foreign country, other evidence of that fact may be taken
by the appraisers.
The law requires that there shall be added to the “ actual market value or whole
sale price” of imports, ascertained as above, in order to fix the dutiable value," all
costs and charges, except insurance, and including in every case a charge for com
missions at the usual rates.”
These charges are—
1. They must include “ purchasing, carriage, bleaching, dying, dressing, finishing,
Commercial Regulations.
615
up, and packing,” together with the value of the sack, package, box, crate,
Eutting
ogshead, barrel, bale, cask, can, and covering of all kinds, bottles, vessels, jars and
demijohns.
2. Commissions at the usual rate, but in no case less than two-and-a-half per cen t,
and where there is a distinct brokerage, or where brokerage is a usual charge at the
place of shipment or purchase, that to be added likewise.
S. Export duties, cost of placing cargoes on board ship, including drayage, labor, bill
of lading, lighterage, town dues, and shipping charges, dock or wharf dues; and all
charges to place the article on shipboard, and fire insurance, if effected for a period
prior to the shipment of the goods to the United States.
Freight from the foreign port of shipment to the port of importation is not a duti
able charge; but when goods are transported from an interior country for shipment
to the United States, the cost of transportation to the foreign port of shipment must
also be included among the dutiable charges.
The first section of the supplemental collection law of the 1st o f March, 1823, re
quires a true invoice of merchandise to be presented to the collector at the time of the
entry.
Invoices of goods actually purchased must exhibit the true cost with all dutiable
costs and charges.
Invoices of goods procured otherwise than by purchase, such as shipments made by
manufacturers or producers, must exhibit the “ actual market value or wholesale price
thereof at the period of the exportation to the United States,” with all charges inclu
ded.
On the entry o f imports actually purchased, (the invoice exhibiting the true cost,)
the owner, consignee, or agent, may avail himself of the privilege afforded by the 8th
section of the Traiff A ct of the 30th July, 1846, of adding to the entry to raise the cost
or value given in the invoice to the “ actual market value or wholesale price of the
goods at the period of the exportation to the United States.” But the invoice cost of
foreign merchandise, supported by the oath required by law, will be held and taken as
the importer’s declaration of value at the port and time of shipment, and conclusive
against him ; unless, before entering the same the said importer, his consignee, or
agent, where the merchandise has been actually purchased, shall declare in writing,
under oath, (annexed form, No. 1,) on the invoice, a decline in value between the time
o f the purchase and the date of the exportation, and the amount thereof; in which
case, such declared value shall be conclusive against the importer. In either case the
appraisers will determine and fix such additional value as the law and the facts may
warrant.
The 8th section of the Tariff Act of the 30th July, 1846, provides, that in the case of
goods actually purchased, if the appraised value thereof be found to exceed by ten per
cent, or more, the value declared on the entry, then, in addition to the duties imposed
by law on the same, there shall be levied, collected, and paid, a duty of twenty per
cent ad valorem on such appraised value.
In the case of imports procured otherwise than by purchase, such as shipments
made by manufacturers and producers, and which are required to be invoiced at the
“ actual market value or wholesale price,” in the principal markets o f the country
whence imported, at the period of exportation to the United States, with the proper
dutiable charges, if the appraised value shall exceed, by ten per cent or more, the in
voice value, then in accordance with the provisions of the 17 th section of the Act of
the 30th August, 1842, in addition to the duty imposed by law on the same, there
must be levied and collected jifty per centum of the duty imposed on the same, when
fairly invoiced.
These additional duties are not legally chargeable, except in cases where the ap
praised value of the goods imported shall exceed by ten per cent or more, the value
as declared in the entry, exclusive of the amount of “ charges” ascertained and added
to such appraised value by the appraisers in making up the dutiable value.
In cases where, on proper ascertainment, there shall prove to be an excess o f quan
tity of any article, or articles, over the q u a lity stated in the invoice, and the United
States appraisers shall be of opinion that such excess does not arise from mistake, ac
cident or other excusable cause, but from fraudulent intent and design on the part of
the shipper, and the Collector concurring in such opinion, the invoice and importation
shall be deemed fraudulent, and seizure and proceedings to confiscate the goods should
immediately take place. But when no intention of fraud is manifested, in the opinion
of the collector, the regular duty will be exacted on the full quantity ascertained, but
616
Commercial Regulations.
no additional duty will be levied in consequence of any excess in quantity over that
given in the invoice; and any instructions heretofore i>sued by the Department con
flicting with this regulation, will henceforth be inoperative.
A t ports where there are no United States Appraisers, the Collector and Naval
Officer— where there is a Naval Officer, and where there is none, the Collector alone
— will ascertain, estimate, and appraise, the dutiable value of imports.
The owner, importer, agent, and consignee, if dissatisfied with the decision of the
appraisers, or the officer or officers of the customs, as aforesaid, acting as appraisers,
may, in pursuance of the provisions of the 17th sectiou of the Act of the 80th August,
1842, if he has complied with its requirements, forthwith give notice to the Collector,
in writing, of such dissatisfaction; and the Collector is required by the provisions of
that section, modified by the 3d section of the Act of the 3d March, 1851, to select
one discreet and experienced merchant, a citizen of the United States and familiar
with the character and value of the goods in question, to be associated, when prac
ticable, with an appraiser at large, and when not, to select two such discreet and ex
perienced merchants, to appraise the goods in question; and if they sharll disagree,
the Collector shall decide bet ween them; and the appraisement, thus determined,
shall be final, and deemed and taken to be the true value of said goods, and the duties
shall be levied thereon accordingly. . This Department cannot, therefore, entertain
any appeal from such appraisement made in good faith, and in pursuance of law hud
instructions.
When the value of an importation is advanced by the appraisers, ten per cent or
more, they will notify the importer, as per form No. 2, hereto annexed.
A notice to the Collector, in writing, requesting a reappraisement, signed by the
owner, importer, agent, or consignee, according to the annexed form No. 3, will meet
the requirement of the law.
The merchant appraiser or appraisers, as the case may be, will be appointed by the
Collector, according to the annexed form No. 4.
The oath wrill be administered by the Collector to the merchant appraiser or ap
praisers, according to the annexed form No. 5.
The report of the appraisers will be according to form No. 6.
The appraisers and officer, or officers of the customs, as aforesaid, acting as apprai
sers, wdli consult and advise freely with the appraisers at large; it being made the
duty of these officers by the Act of the 3d March, 1851, under the direction of this
Department, to afford such aid and assistance in the appraisement of merchandise, as
may be deemed necessary to protect and insure uniformity in the collection of the
revenue from customs; and to enable them the better to discharge that duty, they
will be permitted to examine and compare the valuations of imports, and require ex
planations o f the quantities and values of articles undergoing investigation in the
Appraisers’ Department.
Wrhen appeals are taken up from the decision of the local appraisers, or officers of
the customs acting as appraisers, to a merchant and an appraiser at large, if the
latter finds himself disqualified by any preliminary examination, or expression of
opinion, he may decline to act, and the collector, if the importer desires it, may direct
the general appraiser residing nearest his port to act on the appeal.
In the pursuance of the 52d section of the act of 2d March, 1799, no abatement of
the duties, in consequence o f damage occurring on the voyage of importation, can
be allow ed, unless proof to ascertain such damage shall be lodged in the CustomHouse within ten days after the landing of such merchandise. The certificates of
Port Wardens, Marine Surveyors, or other officers whose province it is to ascertain
marine damage, wTould furnish satisfactory proof on which the Collector would be
justified in ordering an appraisement of the damage. Put such certificate, or what
ever other satisfactory form in which the proof of damage may be presented, should
specify the particular articles, or packages, damaged, and the official examination aud
appraisement should be confined to the articles and packages so specified.
In all cases where the damage exceeds fifty per cent, Collectors will continue to
report the same to the Department, and await its instructions.
Discounts are never to be allowed in any case, except on articles w here it has been
the uniform and established usage heretofore, and never more than the actual dis
count positively known to the appraisers: but in no case to be allowed unless it is
exhibited on the face of the invoice.
None of the allowances for tare, draft, leakage, breakage, <fec., specified in the 58th
and 59th sections of the A ct of 2d March, 1799, are to be made, not being applica
ble to imports subject to ad valorem duties.
Commercial Regulations.
611
No more than the actual tare, or weight, of a cask, or package, can be allowed, and
if the Collector doubts the correctness of the tare specified in the invoice, it will be his
duty to cause the actual tare, or weight of the cask or package, to be ascertained ;
and for that purpose he may cause to be emptied and weighed such number of casks
and packages as he may deem advisable.
The law requires invoices of merchandise imported into the United States and sub
ject to an ad valorem duty, to be made out in the currency of the country, or place,
from which the importation is made. In the estimation of the values of imports in
order to the assessment of duties, the currency of the invoice must be converted into
money of the United States, according to the rates of value determined in the follow
ing modes, to w it:—
1st. Where the value of the foreign currency is fixed at specified rates by a law of
the United States, that value is to be taken in all cases in estimating the duties,
unless Collectors shall have been otherwise previously instructed by this Depart
ment, or a depreciation of the value of the foreign currency is shown by consular
certificate attached to the invoice.
2d. Where the value of the foreign currency is not fixed by any law of the United
States, the invoice must be accompanied by a consular certificate showing its value in
Spanish or United States silver dollars.
The consular certificate of the value of the foreign currency in which the invoice is
made out, is, iu all cases, to be taken as conclusive, unless Collectors shall have good
reason to believe its statement erroneous, in which'case they will submit the facts to
the Department and await its instructions.
A list of the values of foreign-currencies, as fixed by law, is appended to this cir
cular.
The law requires the owner of foreign merchandise imported into the United States,
to verify the invoice by his oath.
Owners, importers, consignees, or agents, residing in the United States, must take
the oath before the Collector of the Customs at the entry.
Owners not residing at the time in the United States must verify their invoices by
oath administered by a consul or commercial agent of the United States, or by some
public officer duly authorized to admininister oaths in the country from which the
goods shall have been imported, in which latter case such official certificate must be
authenticated by a consul or commercial agent of the United States.
I f there be no consul or commercial agent of the United States, in the country from
which the merchandise shall have been imported, the authentication must be executed
by a consul of a nation at the time in amity with the United States, if there be any
such residing there. If there be no such consul, the authentication must be made by two
respectable merchants, if any such there be, residing at the port from which the mer
chandise shall have been imported.
The several provisions of law, and the regulations and instructions in pursuance there
of, prescribed by the Department for the due ascertainment of the quantity, qual
ity, and value of imports, will be faithfully observed, and the requisite examinations
thoroughly made, and the abstracts, returns, and accounts required by law and in
structions, regularly and promptly transmitted to the Department.
Imports should pass the Custom-House iu the order in which they "are made, and
no preference should be given to one importer over another in that respect.
The Collectors are also instructed that the original books of entry and books of ac
count, together with all the papers relating to the business of their respective offices,
are the property of the United States, and are to be kept and preserved as such, and
transmitted to their successors in office.
JAMES GUTHRIE, Secretary o f the Treasury.
FORM NO. 1.— OATH OF AN IMPORTER DECLARING A DECLINE IN VALUE.
I,
, do solemnly and truly swear that this invoice of goods, imported by
or consigned to me in the ship
, whereof
is master, from
,
contains a faithful and just account of the actual cost of the said goods. Further, that
at the date of exportation the market value of said goods was
, showing
a decline in the value between the time o f the purchase and the date of the exporta
tion, and that the sum last mentioned represents the true market value of the goods
at the time of exportation.
Sworn before me, this
day of
,185
, Collector o f the Customs.
/
Commercial Regulations.
618
FORM NO. 2 .— NOTICE TO IM PO RTER OF ADVANCE OF VALUE BY APPRAISEM ENT.
Custom-House,
Collector’s Office,
18 .
Sir:— A lot of
entered by you on the
, per the
from
>
has been appraised by the public appraisers of this district, in accordance with law i
and the valuation exceeds by ten per cent the amount declared as the value on entryI f you appeal from this appraisement, it will be necessary to do so within twentyfour hours.
I am, very respectfully, your obedient servant,
To
, Merchant.
, Collector.
FORM NO.
3.---- i m p o r t e r ’ s
NOTICE TO COLLECTOR CLAIMING RE-APPRAISEM EN T.
. .1 8 .
Sir:— As I consider the appraisement made by the United States appraisers too
high, on
having been imported by
I have to request
that they may be re-appraised pursuant to law, with as little delay as your conveni
ence will permit.
Y ery respectfully,
To
, Collector of the Customs.
,
FORM NO. 4 .— APPOINTMENT OF MERCHANT APPRAISERS.
Custom-House,
, Collector’s Office,
,1 8 .
S ir:— You are hereby appointed to appraise a lot of
, which has been
entered at this port, the importer having requested a new appraisement thereof, in ac
cordance with the provisions of the several Acts of Congress providing for and regu
lating the appraisement of imported merchandise, and you are requested to appear at
the office of the appraisers, No.
, at
o’clock,
to appraise the said goods
pursuant to law.
Before entering upon the duty indicated in the above appointment, you will please
call at this office to take the requisite oath.
I am, very respectfully, your obedient servant,
To
, Merchant.
, Collector.
FORM NO. 5 .---- a p p r a i s e r ’ s OATH.
Custom-House,
, Collector’s Office,
,1 8 .
I, the undersigned, appointed by the Collector of
, to appraise a lot
of
, imported per
, from
, the importer having
requested a new appraisement thereof in accordance with law, do hereby solemnly
swear, diligently and faithfully to examine and inspect said lot of
, and
truly to report, to the best of my knowledge and belief, the actual market value, or
wholesale price thereof, at the period of the exportation of the same to the United
States in the principal markets of the country from which the same was imported into
the United States, in conformity with the provisions of the several Acts of Congress,
providing for and regulating the appraisement of imported merchandise. So help me
God.
.
.
FORM NO. 6 .---- APPRAISERS’ R E P O R T .
, IS
Sir :— W e have examined
, imported by
, from
, in
the
, and are of opinion, that the actual market value or wholesale price
o f the said goods at the period of the exportation thereof to the United States, in
the principal markets of the country from which the same were imported into the
United States, was and we do therefore appraise the same as follows:—
Marks.
Description o f Merchandise.
Numbers.
Value.
II
To
Collector o f the Customs.
- Appraisers.
Commercial Regulations.
019
LIST OF FOREIGN CURRENCIES, THE VALUE OF W HICH HAS BEEN FIXED B Y THE LAWS OF THE
UNITED STATES.
Franc o f France and Belgium.. . . $0 18|
Florin of Netherlands................... 0 40
Florin of South of Germany......... 0 40
Guilder of Netherlands................. 0 40
Livre Tournois of France ........... 0 18J
Lira of Lomb.-Yenetian Kingdom 0 16
Lira of Tuscany............................. 0 16
Lira o f Sardinia............................. 0 18J
Milrea o f Portugal......................... 1 12
Milrea of A zores........................... 0 83JMarc Banco of H am burg............. 0 35
Pound Sterling of Great Britain . 4 84
Pound sterling of Br. Provinces of
Nova Scotia, New Brunswick,
Newfoundland, and Canada . . . 4 00
Dollars of Mexico, Peru, Chili, and
Central A m erica....................... 1 00
GENERAL INSTRUCTIONS, NO.
9.--- TO
Pagoda of India............................. $1 81
Real Vellon of S p ain ................... 0 5
Real Plate of S p a in ..................... 0 10
Rupee Com pany........................... 0 44
Rupee of British In d ia ................. 0 44£
Specie dollar of Denmark............. 1 05
Rix dollar or thaler of Prussia and
Northern States of Germany.. 0 69
Rix dollar of Bremen................... 0 78£
Ruble silver of R u ssia ................. 0 1 5
Specie Dollar of Sweden and Nor
way .............................................. 1 06
Florin of Austria........................... 0 48-JDucat of Naples ......................... 0 80
Ounce of S ic ily ..................... ..
2 40
Tael of China................................. 1 48
Leghorn L iv res............................. 0 16
CONSULS OF THE UNITED STATES.
D e p a r t m e n t , September 12th, 1853.
S ir :— The Department has noticed, with much satisfaction, those instances in
T reasu ry
which Consuls, acting upon the suggestions contained in Circulars Nos. 48, 49, 56, 51,
have aided in the detection of attempted frauds upon the Revenue of the Country, by
unscrupulous shippers or importers, the prevention of which is especially due to the
fair and upright trader. Your attention is now respectfully recalled to the circulars
above cited, and I would further add, that—
The Department deems it expedient to direct, that where consular cortificates to
invoices of goods destined for the United States are required, they shall be granted
only by the consul nearest to the place where such goods have been manufactured or
prepared for exportation. A practice, it is understood, has extensively prevailed, of
transmitting invoices to an agent at the port of shipment, for the usual consular cer
tificates, whose deposition must necessarily be made without due knowledge of their
accuracy or details. Thus, invoices of goods manufactured or prepared for shipment
in Switzerland, are, in most cases, sworn to at Havre, and the same with those from
Lyons, and those from Cette, are verified at Versailles— those from Aix, at the ports
o f Holland or Belgium, &c., <Sic. It is manifest that great abuses must spring from
such a practice, the meaning and intent o f the law, being to require those who must
necessarily have an entire knowledge of the spirit and contents of the invoices, person
ally to depose to their contents, and all consuls of the United States are therefore
strictly enjoined to conform to the rule now established, and to report to this Depart
ment any violation of the same, which may come to their knowledge.
An erroueous impression exists with many foreign shippers of goods to the United
States, that the consuls, before whom the oath to invoices is either taken or verified,
have no power to examine the details o f such invoices; but simply to verify the fact
of such oath being taken before them or by an officer in authority, known to them as
»uch.
For the purpose of carrying out a particular system of revenue duties, the Govern
ment of the United States requires that the accuracy of certain invoices should be
ascertained and verified, and a reasonable time for consuls to accomplish that object
by an examination of such invoices, cannot be justly denied to them. Consuls are not
supposed to be practically acquainted with the market prices or value of all merchan
dise within their district, or of the precise weights, tares, measures, bounties, Ac., Ac.,
included therein; but experience and inquiry will result in such information on these
points, as will enable them to render efficient aid to the revenue officers of the United
States, by promptly informing the Department, as well as the collector of the port to
which the goods may be destined, of every instance where an exporter persists in re
fusing to correct his invoice when apprised of its defects, and that it will be subject
to revision at the Custom-Houses of the United States.
In the application of an exclusive system of ad valorem, duties to the revenues of
620
Commercial Regulations .
the United States, the Department relies with confidence upon the vigilance of con
suls, for the detection of any abuses that may be committed, or any unfair practices
that may be supposed to exist, in regard, not only to the declaration of the original
cost or export value of foreign merchandise, but in all the charges, discounts, bounties,
<fcc., incident to the business of preparing goods for the markets of the United States,
as well as for their promptness in reporting all the particulars to the Department.
The Board of General Appraisers being permanently organized at New York, you
will oblige the Department by forwarding to them occasionally (directed to the Chair
man of said board) such price currents, manufacturer’s statements of prices, or mer
chant’s p
“rinted circulars or prices, or any other general information as may be within
your reach and that you may consider useful to them in the discharge of their duties.
Your attention is also directed to the 8th and lltli sections of the Act of Congress
of the 1st March, 1823, in which it will be seen that a Consular certificate is required
in all cases of invoices of goods exported by the manufacturers thereof in whole or in
part for their account, notwithstanding another owner in part may reside in the United
States. This provision of the law of 1823, the Department has reason to believe, has
been hitherto overlooked in many instances.
But under no circumstances should a Consul administer an oath, unless he be au
thorized so to do by the laws of the country, in W’hicli his consulate is situated, and
unless the laws of that country regard the oath so administered, when falsely taken,
as perjury, and prescribe an adequate punishment for the offense.
When the laws of a foreign country do not authorize Consuls to administer the oath,
it should be taken before the nearest local magistrate whose legal competency should
then be certified by the nearest Consul, as already directed.
It will be incumbent upon you, therefore, to inform yourself immediately upon
these two points, and to form your action accordingly, in all future cases of granting
certificates to invoices, and to advise the Department promptly thereof.
If a Consul ascertains, and has reliable evidence of the falsity of an oath, either ad
ministered by him or by a local magistrate whose certificate he has authenticated, he
should notify the Department, which will transmit to him the original invoice and
oath, to be used, if deemed expedient, in a prosecution for perjury.
You will, of course, take care to give immediate publicity to the material points in
these instructions, within your district, that the change in the system of granting cer
tificates to invoices, which will be material and important, may cause the least possi
ble embarrassment to traders and shippers.
In acknowledging, as you are especially requested to do, the receipt of these in
structions, such suggestions in relation thereto, as may occur to you, will be respect
fully considered. A copy has been furnished to the Collectors of Customs of the
United States, for their government.
Very respectfully, your obedient servant,
JAMES GUTHRIE, Secretary o f the Treasury.
GENERAL INSTRUCTIONS, NO.
10.--- TO
COLLECTORS OF CUSTOMS.
T reasury D epartment , September 21 st, 1853.
S i r :— I nformation has been received at the Department, that the 4th section of the
law of the 28th March, 1796, for the protection of American seamen, is subjected to
serious abuses in foreign ports, by the transfer or sale, to foreign seamen, of the cer
tificates of citizenship issued under that law.
In the present peaceful position of the greater proportion of those countries to
which the commerce of the United States extends the protections, so called, granted
to American seamen, naturalized or native, are of little other practical value than to
enable them to demand the aid and succor of the American Consul in a foreign port,
in case of sickness or other disability; but, aware as they are o f the facility of procur
ing the renewal of these “ protections” on their return to the United States, they very
often d<> not scruple to transfer, for a consideration, the right to such aid and succor,
to a foreign seaman, who, in case of such sickness or disability, is thus enabled to
avail himself of the provision made for American citizens in due course of law.
Consuls might interpose some check to the abuses referred to, by strict investiga
tion, in cases where there exists in their minds a suspicion that the sick or destitute
seaman, claiming relief under a protection, is not the individual to whom the same
was originally issued; and if satisfied on that point, by withholding the relief de
manded.
Commercial Regulations.
621
Under the existing law, the Department is without the power essentially to correct
the impositions referred to, and deems it therefore expedient to call your especial at
tention to the subject, requesting you to use every vigilant care in issuing certificates
o f citizenship under the law already cited, especially in reference to the proofs ad
duced at the time by applicants for said certificates.
You will perceive by the annexed General Instructions, No. 9, (to consuls) that im
portant changes have been directed to be made in the manner o f granting consular
certificates to invoices of goods destined for the United States, and you are requested
to give such instructions as will conform therewith in your office.
You will further report to this Department, any case, in which you may have rea
son to believe that a shipper or importer has sworn falsely, or in which it may appear
that a consul has deviated from these instructions, by exercising his functions within
the proper district of one of his colleagues.
A copy of these instructions has been furnished to the consuls of the United States,
for their government.
Very respectfully, your obedient servant,
JAMES GUTHRIE, Secretary o f the Treasury.
GENERAL INSTRUCTIONS, NO. 1 1 .— TO COLLECTORS AND OTHER OFFICERS OF THE CUSTOMS.
T reasury
D epartm ent,
September 22, 1853.
It appearing from the abstracts of duties on merchandise imported, transmitted to
this department from the lake and frontier ports, that great diversity of practice pre
vails in the classification of articles of wood, under the tariff act of 1836, it is deemed
expedient, in order to the establishment of uniformity in the charge of duties at the
several ports, to give the views of the department in reference to the various descrip
tions of the article in question as imported.
The several varieties of wood specifically provided for in the tariff act, are as fol
lows :—
In Schedule B, charged with 40 per cent duty— Manufactures of cedar, ebony, granad ilia, mahogany, rose, and satin woods.
In Schedule C, charged with 30 per cent duty— Baskets of osier, willow, etc., not
otherwise provided for; brooms, cane3 and sticks for walking, fiuished or unfinished,
carriages and parts of carriages, corks, manufactures of the bark of the cork tree, fire
wood, frames and sticks for umbrellas, parasols, or sunshades, finished or unfinished,
cabinet or household furniture.
Under Schedule E, charged with 20 per cent duty—Barks not otherwise provided for ;
boards; cedar, ebony, and granadilla woods, unmanufactured; lath; mahogany un
manufactured; osier prepared for basket-makers’ use; planks; rose-wood and satinwood unmanufactured; spars; staves; timber, hewn and sawed ; and timber to be
used in building wharves; willow prepared for basket-makers’ use.
In Schedule Fy charged with 15 per cent duty— Bark, Peruvian and Quilla ; cork-tree
bark, unmanufactured.
In Schedule G, cltarged with 10 per cent duty—Ratans and reeds unmanufactured.
In Schedule H, charged with 5 per cent duty— Brazil wood, and all other dye woods
in sticks.
By the provisions of schedule C, in addition to the specified articles classed therein,
a duty of 30 per cent is levied on all manufactures o f wood, or of which wood is a
component part, not otherwise provided for, and also upon wood unmanufactured, not
otherwise provided for.
Under these general provisions, a duty of 30 per cent is to be charged on the fol
lowing named articles, questions in regard to which have been submitted to the de
partment, viz:—Arks of boards, logs, etc.; barrels; beams; boards, when dressed or
planed, tongued or grooved; shinglebolts, eaves troughs, fence rails, hogsheads, head
ings, hoops, knees for boats and ships ; lasts, finished or rough, saw logs, and logs of
all kinds of wood, except those excepted in schedule E ; palings, pickets, poles, posts,
rafts o f logs, rollers, shingles, slabs, shooks, spokes for wagons, etc.; staves, if dressed ;
and railroad ties.
In place of the indefinite term “ lumber,” as it appears m the abstracts, although
not used in the tariff act, it is desirable that the particular designation of the arti
cles in view should be given, as “ boards,” “ planks,” rough or dressed, etc-., as the case
may be.
The occasion is taken to call the special attention of the collectors and all other offi
cers of the customs, of the frontier and lake ports, to the attempts which there is rea
622
Commercial Regulations.
son to believe have, and may be again made by unscrupulous traders, to effect the il
licit introduction o f dutiable articles into the United States, from the adjacent foreign
possessions, by the agency of Indians passing into the United States under the sanction
o f the 105th section of the general collection act of 3d March, 1799—
This provision of law exempts from the payment of duties the “ peltries,” and
“ proper goods and effects" of the Indian, “ unless the same be goods in bales or other
large packages, unusual among Indians, which shall not be considered goods belonging
bonafide to Indians, nor be entitled to exemption from duty.”
The officers of the customs will therefore refuse the free entry of goods brought
across the boundary line by any Indian, unless from a close examination of the case, he
is satisfied that they belong bona fide to the Indian bringing them ; and in cases where
there is reasonable cause for suspicion of intended fraud, will at once seize the goods,
and cause the proper judicial proceedings to be instituted against the same, as forfeited
under the laws.
JAMES GUTHRIE, Secretary o f the Treasury.
GENERAL INSTRUCTIONS, NO.
12,
TO COLLECTORS AND OTHER OFFICERS OF THE CUSTOMS.
Concerning allowance f o r discounts, under A cts o f the 20th April, 1818, and 1st
March, 1823.
T reasu ry
D epartm ent,
October 6th, 1853.
It appearing from representations made to this Department from several of the
collection districts, that more specific instructions than have heretofore been given, are
required in relation to the allowance of discounts on invoices of imported merchandise,
your special attention is called to the subject.
By the 2lst section of the supplementary collection act of 20th April, 1818, it is
provided:—
“ That no discount shall be allowed on any goods, wares, or merchandise, subject to
ad valorem duty, admitted to entry, unless the importer shall expressly state, on oath
or affirmation, that such discount has been actually and bona fide allowed to the owner
or owners o f such goods, wares, or merchandise, in the payment made for the same.”
The supplementary collection act of 1st March, 1823, in the 4th, 5th, 7th, and 8th
sections, prescribing the oath or affirmation to be taken by the owner, consignee, im
porter, or agent, as the case may be, before their being admitted to entry, requires
that it shall be declared under such oath or affirmation, “ that the invoice contains no
discounts, bounties, or drawbacks, but such as have been actually allowed.”
In view of these provisions of law, remaining still in full force, it is directed that,
in all future cases, on the oath or affirmation so required beiDg made, and not before,
the discount noted on the face of the invoice, may be taken and considered in deter
mining the cost of the goods; it being, however, expressly understood that this is not
to prevent the appraiser from exercising any part of the authority vested in him by
law, in ascertaining, estimating, and appraising the true market value of the merchan
dise, and the dutiable value of the same; in the performance of which duty it must
be observed, no discount can be allowed that will reduce the goods below their true
market value; and that no regard caD be had to discounts depending upon conditions
to be performed by the consignees on the arrival of the merchandise.
The foregoing regulation will necessarily supersede any existing rule fixing and
determining the rate of discount to be allowed on certain specified articles.
With every disposition to allow all actual, fair, and reasonable discounts, the De
partment is called upon by a sense of official duty, to enjoin upon the Officers of the
Customs continued vigilance in guarding the revenue from abuses in this particular.
Instances have occurred where an invoice has exhibited a discount greater by 2^ per
cent than that shown on each of several other invoices of precisely similar goods, from
the same foreign house, and imported in the same vessel, at the same time; the said
2| per cent raising the discount claimed just so much higher than the usual rate, as to
form an offset to the charge for commissions required to be added in ascertaining the
dutiable value of merchandise.
In such cases, or others exhibiting a ground for suspicion of intended fraud, it will
become the duty of the Collector to consult with the District Attorney of the United
States, on the propriety of instituting legal proceedings appropriate to the case.
JAMES GUTHRIE, Secretary o f the Treasury.
Commercial Regulations.
628
FOREIGN POSTAGE ON LETTERS AND PERIODICALS.
P o s t -o f f ic e
D epartm ent,
August 4, 1853.
Pursuant to authority vested in the Postmaster General, and by and with the ad
vice and consent of the President of the United States, (which advice and consent
more fully appear by an instrument in writing this day filed in the department,) and
with a view to make better postal arrangements between the United States and Eu
rope, particularly with the government of Bremen—
It is hereby ordered, That from and after the 15th o f August, 1853, the postage on
a single letter to Bremen, by the Bremen line, be reduced from 20 to 10 cents ; which
rate is to be charged also on letters to and from Bremen, for all States beyond Bre
men whose postage to Bremen shall not exceed 5 cents the single rate. On letters
for States beyond Bremen, whose postage to or from Bremen is over 5 cents, the sin
gle rate between the United States and Bremen shall be 15 instead of 10 cents; the
postage beyond, whatever it may be, to be added to the said rate of 15 cents.
On ail pamphlets and magazines mailed within the United States for, or received
from, any foreign country, (except Great Britain, the British North American Provin
ces, and the west coast of South America,) the postage shall be at the rate of one cent
an ounce, or fraction of an ounce, instead of two cents, as established by the order of
25th of May last. And whenever the British government shall reduce their postage
on works of this kind from the present rate of 4 cents to 1 cent an ounce, the same
reduction may be made in the United States postage to and from Great Britain.
OF THE IMPORTATION OF PLATINA.
The following letter from the Secretary of the Treasury to the Collector of the
Port of New York, settles the question as to the importation of manufactured
Platina.
T reasury D epartment , Saturday, August 27th, 1853.
S ir :—The attention of this Department has been given to certain questions arising
at some of the ports of the United States on importation of Platina, as to its proper
classification under the existing Tariff Act, the same description of article being at
one port considered by the appraisers “ unmanufactured,” while at another port it is
returned by them as “ manufactured Platina.”
In order to the establishment of a uniformity of practice in the several collection
districts, it is deemed proper to advise you, that on due examination of the subject—
it being satisfactorily shown that Platina, in an absolutely crude state, is never im
ported into the United States— the Department has therefore decided that the ex
emption from duty, provided in schedule 1 of the Tariff Act, of “ Platina unmanufac
tured,” extends to and comprehends Platina imported either in ingots or, as in the
cases before the Department, in the form of sheets, used in the manufacture of retorts
and other vessels, or in that of fine wire, as used by the dentists in the manufacture
of pivots for artificial teeth; or, generally, to the substance Platina, in any shape or
form not constituting an article suitable for use, without further manufacture.
Very respectfully, your obedient servant,
JA.TIES GUTHRIE, Secretary o f the Treasury.
REGISTER OF VESSELS IN UNITED STATES.
The following A ct was passed during the second session of the 32d Congress of the
United States:—
AN ACT AUTHORIZING THE SECRETARY OF THE TREASURY TO ISSUE REGISTERS TO VESSELS IN
CERTAIN CASES.
Be it enacted by the Senate and House o f Representatives a f the United States o f
America in Congress assembled, That the Secretary of the Treasury be, and be here
by is, authorized to issue a register or enrolment for any vessel built in a foreign coun
try, whenever such vessel may have been or shall hereafter be wrecked in the United
States, and have been, or shall hereafter be, purchased and repaired by a citizen or
citizens thereof: Provided, That it shall be proved to the satisfaction of the Secretary
of the Treasury that the repairs put upon such vessel shall be equal to three-fourths
o f the cost of said vessel when so repaired.
Approved December 23, 1852.
Commercial Statistics.
624
CUSTOMS ACT OF THE SANDWICH ISLANDS.
The following “ Act to increase the import duties on certain kinds of merchandise ”
has been “ enacted by the king, the nobles, and the representatives of the Hawaiian
Islands, in Legislative Council assembled,”*and is now in force.—
S ection 1. That there shall be levied on all goods, wares and merchandise imported
into this kingdom, from any port in China or the Philippine Islands, a duty of fifteen
per cent ad valorem upon the invoice cost thereof; provided, however, that no more
than five per cent duty shall be levied on the article of Rice, and further provided
that this shall not be construed into a repeal of any part of “ An Act levying specific
duties on Sugar, Syrups of Sugar or Cotfee,” passed June 6th, 1852.
S ec. 2. The increase of duties provided for in the'first section of this Act, shall not
affect goods, wares or merchandise, which are the growth or manufacture of any
foreign country having a treaty with this kingdom.
S ec. 3. In order to prove that any goods, wares or merchandise, imported into this
kingdom, from any of the ports of China or the Philippine Islands, are the growth
or manufacture of some other country having a treaty with this kingdom, it shall be
necessary for the person entering the same at the Custom-House, to present to the
Collector o f Customs a certificate to that effect upon the resident Hawaiian Consul, or
in default of such Consul, from the Consul or Commercial Agent of such other country,
at the port in China or the Philippine Islands, from whence such goods, wares or mer
chandise shall have been brought to this kingdom; and the persons entering the
same at the Custom-House shall make oath that such goods, wares or merchandise
are not the growth or manufacture of China or the Philippine Islands, to the best of
his knowledge and belief.
S ec. 4. This Act shall take effect at the expiration of six months from the date of
its publication in the Polynesian newspaper.
COMMERCIAL STATISTICS.
STATISTICS OF THE TRADE AND COMMERCE OF NEW ORLEANS.
In preceding pages of the present number of this Magazine, we have given the an
nual statement of the Trade and Commerce of New Orleans for the twelve months
ending August 31st, 1853, as originally prepared for the New Orleans Price Current.
The subjoined statistics of imports, exports, arrivals and clearances of shipping, prices
of produce, merchandise, etc., are derived from the same reliable source. In the Mer
chants' Magazine for November, 1840, (vol. iii.) we published tabular statements of
the trade of New Orleans from 1830 to 1810, which in connexion with similar state
ments in succeeding volumes, forms a complete statistical history of the commercial
growth of that city from 1830 to 1853, inclusive.
TABLE SHOWING THE RECEIPTS OF THE PRINCIPAL ARTICLES FROM THF INTERIOR DURING
THE V EAR ENDING 31.ST AUGUST, 1 8 5 3 , W ITH THEIR ESTIMATED AVERAGE AND TOTAL
VALUE.
Articles.
Apples........................................
Bacon, assorted.........................
Bacon, assorted..........................
Bacon and hams, assorted... . , . . . .hhds tfc tcs.
Bacon in bulk...........................
B aggin g....................................
Bale rope...................................
Beans ........................................
B u tter.......................................
Butter.........................................
Beeswax.....................................
Beef............................................
Amount.
48,328
50.347
4,009
42,868
134,300
64,144
121,553
9,494
44,444
2,184
194
48,565
Average.
$3 00
70 00
30 00
65 00
7
13 00
8 00
7 00
6 00
28 00
50 00
13 00
Value.
$144,984
3,524,290
120,270
2,786,420
9,401
S33.872
972,424
66,458
266,664
61,152
9,700
631,345
C o m m e r c ia l S ta tis tic s .
Articles.
B eef......................................
Beef, d rie d ......................... ............................lbs.
Buffalo robes.........................
Cotton..................................
Corn meal.............................
Corn, in e a r .........................
Corn, sh elled .......................
Cheese.................................
Candles.................................
Cider..................................... ......................... bbls.
Coal, western.....................
Dried apples'and peaches..
Feathers................................
Flaxseed..............................
F lou r................................... .........................bbls.
Furs....................................... . .hhds., bdls. & bxs.
H e m p ................................. ........................... bis.
Hides................................... .
H ay.....................................
Iron, p i g .............................
Lard.....................................
L a rd ..................................... .......................kegs.
Leather................................. ......................... bdls.
Lime, western.....................
L e a d .................................... ......................... Pigs.
Lead, b a r ...........................
Lead, w h ite .........................
Molasses (estimated crop) . .......................galls.
Oats.......................................
Onions.................................
Oil, linseed.......................... .
Oil, castor...........................
Oil, l a r d .............................
Potatoes.............................. .
P o r k ..................................... .............tcs. & bbls.
Pork.......................................
Pork.......................................
Pork in bulk.........................
Porter and ale......................
Packiog yarn.......................
Skins, deer........................... .....................packs.
Skins, bear..........................
S h o t......................................
Soap.......................................
Sta.ves..................................
Sugar (estimated crop)___ ....................... hhds.
Spanish moss...................... ...........................bis.
Tallow................................. ......................... bbls.
Tobacco, leaf. ..................... ........................ hhds.
Tobacco, strips...................
Tobacco, stems....................
Tobacco, chewing................
Twine..................................
Vinegar...............................
W hisky...............................
Window glass.....................
Wheat.................................. .............bbls. & sks.
Other various articles . . . .
T o ta l...........................
Total in 1S51-2 . . .
Total in 1 8 6 0 -1 ....
Total in 1849-50...
VOL. XXIX.---- NO. V.
Amount.
130,226
18,900
17
1,664,864
1,788
17,620
1,225,031
39,497
68,796
36
700,000
2,237
2,042
1,279
808,672
730
17,648
101,4G0
175,000
121
118,243
159,672
6,309
33,838
210,287
157
725
25,700,000
44 6',956
17,718
508
4,742
14,685
204,327
316,592
2,074
2,547
12,985,810
1,140
2,811
425
29
2,233
6,911
6,000
821,931
3,702
1,318
63,260
10,050
1,700
10,886
4,544
242
138,515
13,408
47,238
625
Average.
Value.
$18 50
559,181
1,606
Si
75 00
1,275
41 00 6S,259,424
3 00
5,364
13,215
75
1,592,540
1 30
4 00
157,988
6 50
447,174
3 00
108
50
350,000
4 00
8,948
40 00
81,680
8 00
10,232
4 50
3,639,024
300,000
17 00
300,016
2 00
202,920
3 00
525,000
40 00
4,840
26 00
3,074,318
5 50
878,196
30 00
189,270
1 25
42,297
4 00
841,148
25 00
3,925
4 00
2,900
20
5,140,000
1 00
446,956
2 00
35,436
30 00
15,240
38 00
180,196
32 00
469,920
2 00
408,654
14 00
4,432,2S8
30 00
62,220
70 00
178,290
61
844,077
10 00
11,400
7 00
19,677
30 00
12,750
15 00
435
30 00
66,990
3 00
20,733
40 00
240,000
48 00
15,452,688
10 00
37,020
24 00
31,632
100 00
6,326,000
130 00
1,306,500
20 00
34,000
25 00
272,150
8 00
86,352
6 00
1,452
8 00
1,108,120
3 00
40,224
1 75
82,766
—
6,000,000
108 051 708
106^924^083
96,897,S73
40
626
C o m m e r c ia l S ta tis tic s .
EXPORTS OF COTTON AND TOBACCO FROM NEW ORLEANS, FOR THE
1ST SEPTEMBER AND ENDING 31 ST AUGUST.
TEARS COMMENCING
COTTON.
1 85 2 -8 .
Bales.
L iv e r p o o l .....................................................
L on d on ...........................................................
G la sg o w & G r e e n o ck ...............................
C ow es, F alm outh, e t c .............................
C ork, B elfast, e t c ......................................
H a v re .............................................................
B o r d e a u x .....................................................
M a rseilles.....................................................
N antz, C ette,
R o u e n ...........................
A m s t e r d a m ................................................
R otterd a m ifc G h e n t..................................
B rem en...........................................................
A n tw e rp , e t c ................................................
H a m b u r g .....................................................
G o tte n b u rg ...................................................
S pain
G i b r a l t a r ....................................
H avana, & M exico, e t c ............................
G en oa, Trieste, e t c ....................................
5,098
1,154
14,621
'7,392
51,443
20,693
76,902
TOBACCO.
1851-2.
Bales*
761,172
11,700
7,211
2,159
1S3,054
1,554
4,308
7,338
259
1,507
10,248
24,562
17,694
6,634
47,645
11,919
75,093
1852—8.
Hhds.
9,458
6,082
1851—2.
Hhds
7,844
5,197
610
982
1,482
169
1,257
9,056
1,916
2,976
800
282
15,053
4,034
125
414
10,175
1,157
222
15,515
7,618
475
1,229
7,662
1,966
11,134
2,647
7,231
1,331
3.533
13,347
1,941
688
124
1,296
3S5
St. P etersbu rg, e t c ....................................
N e w Y o r k ...................................................
B o s to n ............................................................
P rov id en ce, R . I ........................................
P h ila d elp h ia ................................................
B altim ore......................................................
19,362
5,126
15,046
101,938
128,629
4,561
15,594
4,745
O ther coastw ise p o r t s .............................
W estern S tates .......................................
357
1,200
45
1,200
147
230
1,435,815
64,075
93,715
772 ,24 2
196,254
75,950
134,657
256,712
16,150
2,908
20,798
14,698
9,521
14,023
13,948
26,814
21,731
17,199
1,435,815
64,075
93.715
73,043
T o t a l ................................................
G reat B ritain ...........................................
F rance ..........................................................
N orth o f E u rop e ..........................................
S outh o f E u rop e and C h in a...................
C o a s t w is e .....................................................
95,635
149,038
T o t a l ................................................
EXPORTS OF SUGAR AND MOLASSES FROM NEW ORLEANS FOR TWO YEARS, (U P THE RIVER
EXCEPTED,) FROM THE 1ST SEPTEMBER TO 3 1S T AUGUST.
1852—1.
Sugar.
Hhds.
Bbls.
N e w Y o r k .................
P h ila d e lp h ia ...............
C harleston, S. C ____
Savannah.......................
P rov id en ce.....................
B o s to n ...........................
B altim ore.....................
N orfolk ..........................
R ich m on d , e t c ............
A lexa n d ria , D. C .. . .
M o b ile .............................
A p ala ch icola , etc.........
O ther p o r t s ...................
T o t a l...........................
..
..
..
. .
j..
Sugar.
Molasses.
Hhds.
Bbls. Hhds.
Bbls.
51,420
6,376
10,621
3,777
148
2,314
10,827
18,225
6,489
3,524
729
134
946
1,685
99
611
6,400
21
38
172
4,760
4,585
338
175
155
2,398
1,329
24,153
5,657
993
1,156
5,327
1,399
2.348
4 ,212
312 121,875
46,561
11,170
3,S23
1,613
2,631
82
10,945
169
273
407
149
...
174
140
3,629
1,170
9,540
1,546
1851— 2.
Molasses.
Hhds. Bbls.
213
130
93
319
41
416
2,857
...
50,793, 6,534
583
26,703
6,384
9,519
2,873
143
1,409
11,081
5,323
2,127
16,187
7,207
5,151
94,107
C o m m e r c ia l S t a t is t ic s ,
MONTHLY ARRIVALS OF SHIPS,
627
BARKS, BRIGS, SCHOONERS, AND
STEAMBOATS, FOR TWO
YEARS, FROM 1ST SEPTEMBER TO 3 1 S T AUGUST.
1852-8.
to
P
m
*3'
<3Q
03
ca
Months
S e p te m b e r.
O ctob er . . .
N ov em b er .
D ecem b er .
J a n u a r y ... .
F e b r u a r y ...
M a rc h ..........
Xfl
ST
o
©
03
W
£
3
s*
CO
«
p
B
c*
o
?
ST
o
p
.
46
20
io
42
is
136
i 97
..
105
20
20
39
19
203
208
to
rr
er
P
03
03
1851-1
to
■H
m
H
o
B
zr
“
©
p
■ P"
O
©
03
03
m
©"
p
p
B
c*
o
03
03
81
74
21
12
43
14
121
140
32
26
51
18
201
186
.
83
38
20
46
17
204
290
107
26
19
44
14
210
194
.
63
41
30
60
19
213
411
105
66
41
14
303
293
67
66
40
66
24
280
69
39
205
297
94
25
297
95
33
29
SO
13
54
427
410
87
55
70
18
246
285
77
32
38
69
20
346
357
74
29
30
64
20
217
365
25
54
24
207
279
59
27
24
76
24
210
290
.
S3
..
58
.
142
.
72
M a y ............ . .
J u n e ............ .
60
29
16
47
22
164
294
92
32
26
60
17
227
242
48
29
22
33
•21
153
160
59
30
21
55
24
189
238
J u ly ................. . .
9
15
10
27
17
78
119
20
21
17
41
19
118
127
.
23
22
15
12
37
IS
104
121
—
—
18
88
------ - —
101
—
13
—
782
447
295
596
2 4 4 2 , 3 6 4 3 ,2 5 3
A p r il........
A ugust.. . .
T o t a l. . . . .
10
19
—
—
807
371
287
673
—
2 1 3 2 ,3 5 1 2 ,7 7 8
COMPARATIVE PRICES OF MIDDLING TO F AIR COTTON AT NEW ORLEANS, ON THE FIRST OF
EACH MONTH DURING A P ERIO D OF FIVE YEARS, TOGETHER W ITH THE TOTAL RECEIPTS
AT N E W ORLEANS, AND THE TOTAL CROPS OF THE UNITED STATES.
1852-3.
September. .....................
October.............................
N ovem ber.......................
D ecem ber.......................
January ...........................
February...........................
March...............................
A p r il...............................
M a y .................................
June...................................
J u ly .................................
August...............................
Cents.
94 a 11
94 a 11
9# a 10|
8 f a lO f
Si a . .
8 f a ..
8 f a ..
9| a . .
9 f a ..
10 a . .
9| a . .
10 a . .
1851-- 1
Cents.
9 a 10
8 a n
7 a
74 a n
74 a H
74 a 8|
7# a 9
7f a 9
7£ a
94 a . .
9£ a
94 a
Buies.
Receipts at New Orleans.,. 1,664,864
Crop of United States . . , .. 3,220,000
Bales.
1,429,183
3,015,029
COMPARATIVE PRICES OF SUGAR ON THE
1850-1.
1849-50.
Cents.
Cents.
9 a 11
94 a
124 a 13$
9$ a
134 a 144
9| a
13J- a 14
104 a
T2f a 144 104 a
124 a 18| 114 a
104 a 13
I 04 a
104 a 12$ 10| a
94 a 114 I l f a
8§ a 11
114 a
8 a 104 I l f a
7 a 94 124 a
Bales.
1,053,633
2,350,537
114
12
11
114
114
12$
124
12
13
134
134
134
Bales.
797,387
2,096,706
1S48-9.
Cents.
54 a .
54 a 7
•5 a 6
54 a 64
5 f a 64
64 a 74
64 a 74
64 a 74
64 a 7$
7 a 8$
7 a 8$
9 a .
Bales.
1,100,636
2,700,000
LEVEE, ON THE FIRST OF EACH MONTH FOR
FIVE YEARS.
September.............
O cto b e r.....................................
November.............. .....................
December .................................
January ................ .....................
F ebruary..............
March.....................
A pril..................... .....................
May ................... .....................
June .................... .....................
July ..................... .....................
August............... .....................
1852-4 .
a 64
3f a 7
24 a 6.1
2$ a 64
2| a 54
a 64
a 64
24
24
2+
2$
34
a 5
a 5f
a 5~
a 5
a 6
1851-- 2 .
1850i-i.
3f a 64 44 a 64
8$ a 64 44 a 6$
3 a 6$ 5 a 6
3 a 54
24 a 6
2 a 54 34 a 64
2 a 64 34 a 64
24 a 54 34 a 6
24 a 5 f 34 a 6
24 a 5$ 5 a 64
34 a 64
34 a 6
34 a 64
34 a 6
34 a 64 44 a 64
1819--6)0.
3 a 54
4 a 64
3 a 6
3 a 6
24 a 5
2.4 a 5
24 a 5
24 a 5
24 a 5
34 a 5 f
4 a 6
44 a 64
1818- 9.
24 a 44
24 a 44
4 a 44
24 a 44
24 a 44
24 a 5
24 a 64
24 a 64
2 4 a 54
24 a 5
24 a 44
3
a 54
628
C o m m e r c ia l S ta tis tic s ,
COMPARATIVE PRICES OP MOLASSES ON THE LEVEE, ON THE FIRST OF EACH MONTH FOR
FIVE YEARS.
18S2-S.
September . . . .cts.
O ctober.................
N ovem ber.............
D ecem ber.............
January.................
February...............
March.........................
A pril.........................
M ay.........................
J u n e.........................
J u ly ..........................
A u gu st.....................
16 a
18 a
25 a
23 a
17 a '
21 a
18 a
17 a
15 a
J4 a
11 a
13 a
COMPARATIVE PRICES
1851-2,
28
28
26
2S-J22
24J
24J
24
20
22
204
19
25
23
18
23J
17
15
20
15
20
23
20
18
a
a
a
a
a
a
a
a
a
a
a
a
1850-1.
30 20 a
30
20 a
27
25 a
24 23-J a
20-J- 18 a
2 0 j 23 a
25
22 a
26
25 a
28 25 a
28
25 a
28
22 a
28
20 a
1849-50.
32 10
32 10
25^- 24
24 20J
24 17
27J 15
30 15
33 10
32 10
30 21
30 25
28 20
a
a
a
a
a
a
a
a
a
a
a
a
1S4S-9.
20
20
24|
20f
19^
20^
24
21
23
27
33
33
15
17
23J19J
18
20
15
15
124
12
8
10
a
a
a
a
a
a
a
a
a
a
a
a
20
21
24
20
19J
21J
19
19
18
184
18
20
OF FLOUR, ON THE FIRST OF EACH MONTH FOR FIVE YEARS.
1852-3.
1851-1
1850-1.
1849-50.
1848-9.
September...........................$3-4 a 4§ $34 a 5 $ 4 f a 54 $44 a 5J $4 a 4 f
October............................... 4
a 4§ 3 f a 4 f 4 a 54 5 a 5 f 5 a 54
November........................... 44 a 4 f 34 a 44 4J a o j 4 f a 54 4 f a 54
December........................... 4 f a 5
34 a 4 f 44 a 54 5 a 54 4 f a 5
January............................... 44 a 54 34 a 54 44 a 5
5 a 5 f 44 a 4 f
February........................... 44 a 5
4 a
54 44 a 5
54 a 5 f 44 a 5
March................................... 4
a 4 f 44 a 44 4 a 4 f 54 a 6
44 a 54
A pril...................................
34 a 44 3-J a 44 4 a 44 5 f a 6 f 44 a 5
M a y .................................... 34 a 44 34 a
3 f 44 a 5
5|- a 6 f 34 a 5
June..................................... 34 a 44 3 f a 34 3 f a 4§ 6 f a 74 44 a 54
J u l y ................................... 4 f a 5
3 f a 44 34 a 4 f 54 a 74 34 a 5
A ugust...............................
54 a 64 34 a
34 4 a 54 4 a 6J- 6 a 74
COMPARATIVE
PRICES OF MESS
AND PRIM E
POR K, ON THE FIRST OF EACH MONTH FOR
TWO YEARS.
1852-1.
Mess.
September...............................$214 a
O c t o b e r ...............................
20
a
Novemher .............................. 164 a
December...............................
184 a
January.................................
174 a
February...............................
16
a
March....................................... 14J a
A pril........................................ 14
a
May ........................................ 154 a
J u n e........................................ 14
a
July.........................................
144 a
A u gu st.................................
144 a
1851-2.
Prime.
Mess.
Prime.
22 $-184 a . .
$164 a 17 $15 a
21
..
a ..
154 a 16
15 a
164 IS* a 16J 18J a 144
13 a
194 17
a 174 1*4 a 15
.. a
18
164 a 16f 14
a 144
12 a
164 14J a . .
14f a 154 134 a
154 18
a 14
15
a 154
184 a
144 11
a 12
164 a 16f
134 a
16
12f a 134 174 a l H
15 a
144 12
a 124 17
a 174
15 a
154 U f a 124 20 a 204 18 a
154 12
a 124 19£ a 204
18 a
154
154
..
12f
••
184
13f
154
..
..
COMPARATIVE PRICES OF CORN IN SACKS, ON THE FIRST OF EACH MONTH FOR FIVE
YEARS.
1852 - 1.
September.............
•October..........................................
November.....................................
December...............
January ............... .....................
February .....................................
March...................... ......................
A pril....................... ...................
Mav......................... .....................
J u n e ....................... .....................
July.........................
August,...................
5S
66
52
42
35
34
44
43
a
a
a
a
a
a
a
a
a
a
a
a
58
62
60
60
58
54
46
45
50
52
60
75
1851-- 2.
32
40
33
42
50
46
50
42
41
47
60
50
a
a
a
a
a
a
a
a
a
a
a
a
65
58
42
46
56
51
53
46
48
53
52
62
1850-- 1.
53
50
70
70
60
60
52
50
46
38
34
34
a
a
a
a
a
a
a
a
a
a
a
a
63
60
75
65
68
58
58
54
51
57
60
1819-- s o . 1848-- 9.
35
42
50
46
..
45
£0
50
76
64
75
75
a
a
a
a
a
a
a
a
a
a
a
a
46
48
55
52
47
50
57
56
83
70
85
85
52
48
52
42
35
34
30
20
30
50
50
50
a
a
a
a
a
a
a
a
a
a
a
a
57
53
58
51
40
43
41
40
45
55
53
56
629
C o m m e r c ia l S t a t is t ic s .
EXPORTS OF FLOUR, PORK, BACON, LARD, BEEF, LEAD., W H ISK Y, AND CORN, FOR THE
T E A R ENDING
31 ST AUGUST, 1853.
Pork.
bbls.
Bacon
hhds.
kegs.
6S.336
76,4S6
6,281
8,134
26,241
4,316
2,449
7,983
11,660
7,381
65
188
30,328
2.224
1,229
394
206,775
204,857
6,846
11,747
48,1 18
87.691
145,488
12,524
2 00 ,22 6
53,469
723,996
Lead.
Whisky.
bbls.
Corn.
sacks.
107,371
77,518
22,196
2 25,244
119,887
17,734
5,128
10.508
1,316
1,613
486
57,659
40
60
171,877
303,679
14,064
15,632
212,253
71,642
868,117
Flour
bbls.
New Y o r k .................
Boston......................... ...............................
Philadelphia.............
Baltimore...................
Other coastwise ports. ...............................
Great Britain.............. ...............................
Cuba........................... .
Other foreign ports.. . ................................
35,155
194,607
170,569
69,784
Total ...........................
Beef.
bbls.
New Y o r k ...................
Boston.........................
Philadelphia................. ...............................
134
2,000
686
42,366
3
600
...............................
Other coastwise ports. ...............................
Other foreign ports
...............................
................................
. ...............................
Total............................
pigs.
Lard
In the above, the exports to Mobile, &e., via the Pontchartrain Railroad and New
Canal, are included.
DISTRIBUTION OF AMERICAN COTTON CROPS.
A correspondent of the Journal of Commerce furnishes the following table, show
ing the distribution of the cotton supply of the last ten years, expressed in per cents:
Years.
1 8 5 2 - 3 ..........
1 8 5 1 -2 ..........
1 8 5 0 - 1 ..........
1 8 4 9 -5 0 ____
1 8 4 8 - 9 ..........
1 8 4 7 - 8 ..........
1 8 4 6 - 7 ..........
1 8 4 5 - 6 ..........
1 8 4 4 -5 ..........
1 8 4 3 - 4 ..........
Crop and stock
say Total.
3,354,058
3,143,920
2,523,187
2>251,459
2,900,064
2,562.471
1,885,773
2,194,663
2,554,275
2,124,895
Average. .
Great
Britain.
51.78
53.03
56.13
49.16
53.03
51.6S
44.06
50.23
56.34
56.50
France.
12.72
13.40
11.94
12.86
12.70
10.89
12.81
16.39
14.06
13.30
52.20
13.11
North of Other ForEurope. eign ports.
5.10
5.77
5.37
5.87
5.13
5.53
5.20
5.40
5.71
5.39
4.70
5.25
4.01
4.94
3.95
5.38
5.26
5.89
3.25
3.54
3.57
5.30
United
States.
20.59
19.18
16.02
21.66
17.86
20.75
22.60
19.26
15.22
16.82
18.95
Burnt
and stock
on hand.
4.04
3.15
5.25
7.72
5.31
6.73
11.49
4.79
3.23
7
5.87
LUMBER TRADE OF WISCONSIN.
J.
W. H u n t communicates the subjoined statement of tiie production of lumber in
“Wisconsin. There are, it seems, seven distinct localities in which lumber is manufac
tured, as follow s:—
Blrck River ...............................
C hippew ay ...............................
Green Bay ..................................
Monitowoc..................................
15,000,000
28,500,000
28,000,000
24,500,000
St. C roix .....................
| Wisconsin....................................
I W olf River ..................................
|
I
2 0,000,000
70,0 00 ,0 0 0
25,000,000
-------------------
211,000,000
630
Commercial Statistics.
EXPORT OF TEA FROM CHINA TO UNITED STATES.
We give below a statement of the exports of tea from Shanghae and Canton to the
United States, for the last five years, that is from
18 49
to
1 8 6 3 :—
EXPORT OF TEA FROM SHANGHAE TO UNITED STATES, YE AR ENDING
1849.
1850.
614,548 1,648,829
Congou and Souchong.___
Hy., My., and P e k o e .........
...........
...........
Oolong.........................................................................
30TH
JUNE.
1851.
1582.
1858.
3,690,095
14,160
...........
2,829,525
4,093
340,858
3,601,961
5,900
401,313
Total Black.................
614,548
1,648,829
3,104,255
3,114,416 4,015,114
Twankay.............................
Hyson...................................
Hyson Skin.........................
Young Hyson.....................
Gunpowder.........................
Imperial...............................
181,691
...........
342,421
1,345,725
167,155
205,987
181,148
...........
554,026
2,298,611
466,230
283,511
139,969
...........
1,795,227
3,378,206
697,370
441,338
1,781,169 2,211,920
........... 1,181,831
1,545,120 2,293,722
1 ,367,008 11,875,352
1,699,146 1,904,730
919,413 1,340,538
Total Green................
2,370,075
3,974,708
7,316,641 13,312,456 20,SOS,093
Grand Total............
2,986,332
5,623,708 11,068,540 16,458,932 24,823,267
EXPORT OF TEAS FROM CANTON TO THE UNITED STATES, YEARS ENDING
Young Hyson.....................
H y s o n ...............................
Hyson Skin.........................
Twankay.............................
Im p eria l.............................
Gunpowder.........................
Souchong and Congou___
Pow chong...........................
Pecco...................................
Orange Pecco......................
Oolong.................................
1849.
1850.
9,189,500
645,000
2,009,700
480,200
682,000
812,500
2,748,100
608,100
15,300
88,400
1,393,600
9,369,600
563,000
2,067,300
862,000
651,800
882,700
3,515,700
612,500
32,400
223,9u0
2,976,900
1851.
30TH
1852.
JUNE.
1851
8,484,500 12,091,100 15,534,600
583,100 1,153,000 1,401,500
3,082,300 2,600,500 2,531,400
1,081,400 1,859,100 2,323,700
907,600 1,139,400 1,716,100
1,139,800 2,093,600 2,594,100
6,404,000 4,931,600 5,604,500
925,500
197,800
923,400
220,800
417,200
37,200
316,100
...........
365,300
5,678,100 1,214,100 1,272,100
Total G reen ............... 13,818,900 14,396,400 15,215,100 20,937,300 26,101,100
Total Black................. 4,853,500 7,361,400 13,645,100 13,396,100 14,202,500
Total Green and Black.. 18,672,400 21,751,800 28,760,800 34,334,000 40,303,600
EXPORTS OF GRAIN FROM DENMARK.
A correspondent of the Belfast, (Ireland,) Mercantile Journal, furnishes a statement
o f the exports of grain from Denmark for the last eight years, from which we com
pile the following table:—
1846.
1847.
1848.
1849.
154,454
215,076
954,908
429,165
137,255
29,338
227,999
429,922
1,429,584
415,877
163,013
24,036
300,840
520,915
1,774,293
466,278
123,504
26,994
235,220
238,003
303,588
212,694
1,921,091 1,390,142
527,004
378.738
140,014
119.545
21,044
24,200
3,232,022
3,164,072
W heat___ tons.
B y e ...................
Barley...............
O a ts .................
P e a s .................
Flour.................
191,306
293,042
1,192,343
282,696
170,095
30,600
A ll sorts*.........
2,187,101 1,982,554
2,731,942
In 1844 the exports amounted to....................................... tons
In 1845 to .....................................................................................
* “ All sorts,” includes tares and buckwheat.
18S0.
1851.
2,387,475
1,873,911
1,980,742
631
Commercial Statistics.
VIRGINIA TOBACCO TRADE— 1 85 2 -3 ,
W e are indebted to an attentive correspondent at Richmond, (Virginia,) for the sub
joined comparative statement of the tobacco trade :—
VIRG IN IA TOBACCO TRADE IN
1852-3.
Stock on hand and on shipboard, October 1, 1852.............. hhds.
Inspected in the year ending October 1, 1852.............................
Exported to foreign p o rts ..............................................................
Stock on hand...................................................................................
13,535
50,567
----------64,102
10,081
10,091
---------20,172
43,920
Manufactured and shipped coastwise
This shows a large increase in the last line on the statement of 1351-2, which was
38,853 hhds., manufactured and shipped coastwise. The number of factories having
increased considerably, and, as usual, there is to be added some 38,000 packages or
more, manufactured from uninspected tobacco.
PARTICULARS OF INSPECTION.
1851.
Richm ond...................
Petersburg.................
Lynchburg...................
Clarksville...................
Fs&mville.....................
Tye River.....................
15,678
7,220
5,810
2,141
1,425
324
1852.
1851
24,119
10,489
10,700
4,001
2,255
242
23,488
11,405
10,219
3,860
1,406
189
32,598
51,806
50,567
PARTICULARS OF EXPORT.
Tobacco. Stems.
To Great Britain.........
France..................... ___
Italy.......................
904
___
Tobacco. Stems.
Belgium.............
Holland.............
B rem en.............
Total..................
583
473
2,248
....
61
6,999
7,060
COMMERCE OF MELBOURNE, AUSTRALIA,
The Report of the Chamber of Commerce of Melbourne, made at its last annual
meeting, embraces a detailed history of the progress of population and Commerce in
Australia:—
The population of Melbourne during the year 1852 is represented to have increased
from 95,000 to 200,000. The shippiug inwards had risen, during the same period,
from 669 vessels, with a tonnage of 126,000, to 1,657 vessels, with a tonnage of
408,000. The public revenue had also increased from £380,000 to £1,577,000. The
customs receipts of the year 1852 reached £342,000, and it is estimated that they will
reach the present year about £500,000. The estimated customs receipts of Hew
South Wales are also £222,000.
The value of imports of the colony for the year 1851 amounted to £1,056,000, and
the following year £4,044,000. The increase in the amount of the export produce for
the same period is still more striking, being from £1,424,000 to £7,452,000. A large
amount of gold, it has since been ascertained, was exported from the colony, but not
included in this sum of £7,452,000, a careful estimate of which gives the total of
£14,880,000 as the value of the entire expoits for the year.
The quantity of gold received from the Victoria gold diggings during the first fif
teen months of their operation, is estimated at five millions of ounces, being nearly
£20,000,000 or about $100,000,000.
The quantity of gold brought down from the interior, during the first three months
of the present year, to Melbourne, has been 527,998 ounces, and the Chamber of Com
632
Nautical Intelligence.
merce asserts that the amount -would have been much larger had there not been a
scarcity o f water in the diggings. The report further, by a comparison with the gold
statistics of California, shows that the English El Dorado has yielded, during the first
two years following the gold disboveries, an equal amount to that obtained from Cali
fornia during the first two years succeeding the discovery of its gold regions.
The export Commerce of England averages £65,565,000 per annum, and the fact
that the exports of Australia already reach one-fourth this amount is a standard
of comparison, the importance of which is duly arrayed in the report before us.
INSPECTION OF FLOUR AT RICHMOND, YEAR ENDING J U L Y -
1851.
bbls.
314,000
1852.
1851.
bbls.
389,000
bbls.
450,000
To which may be added 60,000 to *70,000 bbls. inspected at Scottsville and Lynch
burg, and sold in Richmond.
EXPO RT OF FLOUR FROM RICHMOND TO
FOREIGN PORTS, T E A R ENDING OCTOBER,
To Great Britain.................................................... bbls.
Biitish Provinces......................................................
Bremen.......................................................................
B ra zil.........................................................................
A ustralia........................... .......................................
1853.
6,798
9,796
150
80,608
17,500
114,852
The export to California was large, but not registered, being a domestic port.
NAUTICAL INTELLIGENCE.
LIGHTS OF AR0SA BAY, COAST OF GALICIA, SPAIN.
H y d r o g r a p h i c O f f ic e ,
September 7th, 1853.
The Spanish Government has given notice that on the 19th of October, two lights
will be established in Arosa Bay, on the Coast of Galicia, viz:—
1. A light, varied by flashes, on Salvora Island.
2. A fixed light, on Arosa Isl md.
No. 1 is a fixed light but varied by red flashes every two minutes. It stands on
the south point of Salvora Island, in 42° 27' 50/; North, and 8° 59' 20" West of
Greenwich. Its hight is 83 feet above the level of the sea, and it is visible from the
deck of a vessel, about 16 miles.
No. 2 is a fixed light on Cabalo Point, the N. W . extremity of Arosa Island. It
stands 39 feet above the level of the sea, 42° 34' 8" N. and 8° 51' 30" West of Green
wich. It may be seen about 11 miles.
It also appears by the above mentioned notice that a dangerous Rock, in the en
trance of Port Ferrol, in the way of vessels beating into or out of the harbor, has been
recently discovered. It is named the Cabalino and the following compass bearings
give its position:—
The S. E. angle of S. Felipe Castle, N. 71° E.
The S. angle of S. Carlos Castle, N. 14° W.
The N. W. angle of S. Martin Castle, N. 85° E., and its distance from the south
shore of the channel is not more than half a cable’s length. It is nearly circular in
form, about 7 feet in diameter, and at low water its summit is a wash, though con
cealed by the seaweed ; the depth round it is 9 feet close to; and increases to 18 feet.
S. E. by E. from the Cabalino, distant 74 yards, is the Cabalo, consisting of three con
nected masses of rock, the highest and North-Westernmost of which is of a tabular
form, nearly round, and connected with the Cabalino by a reef# The Cabalo rises 8
feet above the sea, and is nearly 24 across, N. W. to S. E.
633
Railroad, Canal, and Steamboat Statistics.
FIXED LIGHT OJV SISARGAS ISLAND, WEST COAST OF SPAIN.
H y d r o g r p h ic O f f ic e ,
August
9 th , 1853.
On the 18th of last May, a notice was received from the Spanish Government, and
was immediately republished by this office, that a.Fixed Red Light, varied by flashes,
had been placed on Sisargas Island, in 43° 217 50" N. and 8° 55' 9" West of Green
wich, at the hight of 363 feet above the sea. But by another dispatch received this
day, it appears that the light ought to have been described as Bright, with R^d
flashes, which occur every four minutes.
ALHUCEMAS LIGHT, COAST OF BARBARY.
It also appears from a note in this latter despatch that a Fixed Light is to be ex
hibited during the present month on the “ Torre-vigia ” in Alhucemas Bay, on the
Coast of Barbary ; but no other particulars have yet been communicated to this office.
Alhucemas Bay in the Spanish Chart is in 35° 15' N. and 3° 48' W. of Greenwich.
LIGHTS IN THE KATTEGAT.
II y d r o g r a p iiic
O f f ic e ,
August
2 9 th , 1853.
Her Majesty’s Government has been officially informed that in the course o f the
present month a Light Vessel will be placed on the Kobber Ground, in the Kattegat,
and will carry Three Lights.
She will ride three or four cables lengths, S. E. by S. (by compass) from the Nyvager, (New Beacon,) in latitude 57° 8' 30" N. and longitude 11° 20' 30" E. from
Greenwich. She will be schooner rigged, and each side painted red with a white
cross. More accurate particulars have been promised.
RAILROAD, CANAL, AND STEAMBOAT STATISTICS.
INCREASE OF RAILROAD TRAFFIC IN 1853.
The following table compiled from reports of the several roads, shows the per cent
gain in the traffic of 1853, over the previous yea r:—
Cleveland and Columbus___ per cent.
Little Miami..........................................
Louisville and Frankfort.....................
N. Y . Central, through the line..........
Hartford and Springfield....................
H ousatonic .... ....................................
Norwich and Worcester......................
Baltimore and Ohio.............................
20
23
28
27
18
Michigan Central.................................... 17
New York and New Haven................. 50
Ohio and Pennsylvania ..................... 102
Pennsylvania Central............................. 52
Watertown and Rome, N. Y ................ 43
20 Cleveland and Pittsburg........................ 20
20 Hamilton, Cincinnati, and D ayton .. . 58
43
PASSAGES OF LIVERPOOL STEAMSHIPS IN 1852.
Subjoined are tables exhibiting the length of each voyage o f the steamships of the
Collins and Cunard lines, during the year 1852. It will be seen that each line has
nobly sustained its reputation for regularity, and that the difference between the two
may be counted in hours.
The average length of each o f 23 voyages from New York to Liverpool of the Col
lins ships, was 10 days, 19 hours, and 14 minutes.
The average length of each of 24 voyages from Liverpool to New York of the Col
lins ships, was 11 days, 16 hours, and 24 minutes.
The average length of each of 24 voyages from New York to Liverpool of the Cu
nard ships, was 11 days, 8 hours, and 55 minutes.
The average length of each of 25 voyages from Liverpool to New York of the Cu
nard ships, was 12 days, 11 hours, and 36 minutes.
The shortest passage was made by the Arctic in February, when she went out to
Liverpool in 9 days, 17 hours, and 10 minutes.
The longest passage w as m ade b y the N iagara in the sam e m onth, w hen she p u t
Railroad , Canal, and Steamboat Statistics.
634
into Halifax on her way to New York, making the voyage in 20 days, 16 hours, and
20 minutes.
The shortest passage by a Cunard ship was the Asia’s, in August, when she reached
New York in 10 days, 4 hours, and 52 minutes.
The longest passage by a Collins ship was the Pacific’s, in February, when she was
15 days, 6 hours and 25 minutes in reaching New York.
THE COLLINS LINE.---- NEW YO RK TO LIVERPOOL.
Name.
Sailed.
1 8 5 2 ..........
7
it
«
P a cific...........
«<
A r c i i c ..........
«
tt
.<
it
u
tt
B a lt ic ............
tt
P a cific...........
B a l t i c ..........
A r c t ic ............
tt
Name.
A r c t ic ...........
P a c ific ..........
tt
____ F eb .
it
A r c t ic ...........
B a lt ic ..........
Pacific.........
o
«
16,
30,
13,
27,
11,
25,
u
a
u
a
a
it
u
tt
Arctic ...............
“
Pacific ...............
5,
19,
2,
16,
30,
14,
28,
Pacific ..............
Atlantic.. . .
...............
Pacific ..............
Arctic ...............
Pacific..................
“
it
25,
8,
u
it
tt
tt
a
u
«
it
((
tt
<«
il
it
it
.........July
tt
U
tt
it
tt
it
22,
tt
6,
20,
3,
tt
tt
It
U
17,
it
It
tt
i,
“
“
tt
it
tt
u
«
8 5 2 ..........
u
u
tt
tt
tt
a
u
a
tt
a
tt
tt
tt
tt
tt
a
tt
tt
27, tt
10, tt
25, a
LIVERPOOL TO NEW YORK.
Arrived.
Sailed.
1 8 5 2 ____
7, 1 8 5 2 ..........
“
.......... F eb .
12, It
28,
tt
11, it
26, il
8, it
25, «
tt
21, it
10, ll
5, tt
24,
it
18, It
7, it
21,
Baltic ...............
«
tt
tt
tt
00
tt
3,
it
17
tt
i,
U
15
29, U
tt
l9
26. u
10, u
24, u
a
7
21! a
tt
4
tt
18
01
Arrived.
21,
4,
17,
3,
19,
31,
15,
29,
12,
26,
9,
24,
7,
*
21,
3,
18,
1,
10,
29
15,
29,
It
2,
16,
30,
30,
26,
It
it
tt
tt
ft
it
ii,
il
25,
8,
ii
22,
It
5,
18,
ll
2,
ii
16,
tt
i,
ft
ii
tt
27,
15,
tt
tt
D. H. M.
22 10
17 00
17 10
3 45
............... i i
..........12 15 45
1 28
.......... 11
.......... 11 11 45
..........11 20 45
6 45
.......... 10
_____ 10 15 00
2 45
.......... 10
8 45
..........10 14 30
9 25
.......... 10
1 15
..........10
..........10 19 10
..........10 17 40
4 5
..........10 17 45
16
00
..........10
..........10 15 45
.......... 18 21 00
8 15
..........11
D. H. M.
..........13 19 20
6 25
..........15
..........14 22 35
20 23
...............11
4 30
...............11
0 30
..........12
..........10 21 45
8 35
..........11
..........11 13 50
..........11
1 15
...............11
5 25
6 45
...............10
...............11
7 45
...............11
0 25
...............10
20 55
...............10
15 30
...............11
12 15
6 15
9 30
...............10
...............10
10 45
23 45
...............11
........12 1 15
...............10
20 25
13 30
635
Railroad, Canal, and Steamboat' Statistics,
THE CCNARD LINE.---- N E W YORK TO LIV ERPO OL.
Name.
A fr ic a ...............
A sia ....................
Sailed.
«
. ..F e b .
C anada............
tt
A s i a ...................
E u r o p a ............ ........A p ril
A fr ic a .............. . . .
“
tt
A fr ic a ...............
tt
Europa........... . . .
“
Asia ..................
it
A frica .............
Europa .............
ii
Asia .................
if
Europa.........
24,
7,
21,.
5,
19,
2,
16,
30,
14,
28,
25,
8,
22,
20,
3,
17,
1,
15,
D. H. M.
Arrived.
1 8 5 2 ..
28, tt
.................Feb.
it
11, ft
25,
ll
10, ft
ii
((
M
if
ii
.................
“
a
a
ii
((
ft
ft
ii
<(
if
tt
it
cc
it
ft
■a
..............July
u
a
it
u.
a
it
it
u
.............. 10
.............. 11
.............. 11
.............. 12
6,' “ . . . ...............12
18, “
...
2, “ . . . .............. 10
15, “
. . ...............10
30’ “
. . . ............... 11
i “, “
. . . ...............10
27, “
. . . .............. 10
n i “
. . ...............11
25, “
. . . .............. 10
i, “
..
22, “ . . .............. 10
4, “
. . ...............10
20, “ . . .............. 12
4, “
. . . ...............12
17, “
. . .............. 11
1, “ -• .............. 11
16, M . . .............. 12
29, “
..
12, “ . . ......................i i
7,
23,
8|
99
“
“
“
«
..
..
..
22 00
10 00
23 15
22 00
10 4 0
22 00
12 00
19 00
5 40
oo
9 50
15 4 0
i 00
15 05
62
4
6
20 00
10 45
o 00
3 30
3 30
15 30
22 4 0
10 30
21 SO
LIV ERPO OL TO NEW YO RK .
Asia...............
Niagara...........
ii
u
. . .Feb.
Africa...............
Europa ....................
17,
31,
14,
28,
13,
27,
10,
24,
8,
(i
A sia ..........................
22,
6,
19,
a
a
17,
it
u
it
it
a
{.
tt
ii
3,
ii
«
it
a
a
a
a
it
a
Asia .............................
...............Feb.
a
31.
u
28,
tt
tt
July
..........................
a
a
Europa ...................
....
“
11,
Asia.................
25,
a
23,
6,
20,
4,
a
u
Africa......... ....
Africa.............
,
“
a
it
tc
a
7,
18,
28,#
12^
25,
7,
21,
6,
20,
a
..
..
..
..
..
...
...............20
.............. 17
.............. 13
.............. 12
.............. 11
...............i i
..
......................10
“
..
......................12
“
..
.............. 11
2,
“
..
......................10
16,
“
..
............11
30^
15,
29,
12,
25,
“
“
“
“
“
..
......................11
..
......................i
..
......................12
id, “
21, “
e;
a
“
“
“
“
“
“
“
21,
4,
19,
o'
n !
“
“
“
“
it
“
l
..
.............. 11
..
......................11
.............. 12
. .
. . .............. 10
..
. . .............. 12
. . ...............10
...
.............. 12
...
8 15
16 20
17 30
19 3 0
17 10
22 51
5 50
22 30
4 55
18 15
17 20
3 25
i i 30
18 10
1 16
21 00
6 15
21 30
11 50
5 35
00 00
16 00
21 30
5 00
1 45
BRITISH RAILWAY WONDERS OF 1850.
D ickens , in a late number of his “ Household Words,” thus describes the railway
wonders of the United Kingdom for the year 1850. The fancies of Boz will not im
pair the force or accuracy of the facts and figures, which he has borrowed from official
and other reliable sources.
From the unimpeachable record of scarcely credible statistics, it appears that at
636
Railroad , Canal, and Steamboat Statistics .
the end of 1849 there were, in Great Britain and Ireland, five thousand five hundred
and ninety-six miles of railway in active operation; upwards of four thousand five
hundred and fifty-six .are in England, eight hundred and forty-six in Scotland, and
four hundred and ninety-four in Ireland. Besides this, the number of miles which
have been authorized by Parliament, and still remain to be finished, is six thousand
and thirty; so that, if all the lines were completed, the three kingdoms would be in
tersected by a network of railrcad measuring twelve thousand miles: but of this there
is only a remote probability, the number of miles in course of active construction being
no more than one thousand five hundred, so that by the end of the present year it is
calculated that the length of finished and operative railway may be about seven thou
sand four hundred miles, or as many as lie between Great Britain and the Cape of
Good Hope, with a thousand miles to spare. The number of persons employed on
the 30th of June, 1849, in the operative railways was fifty-four thousand; on the un
opened lines, one hundred and four thousand.
When the schemer of the infancy of the giant railway system turns to the passen
ger account for the year 1849,he declares he is fairly “ knocked over.” He finds that
the railway passengers are put down at sixty-three million eight hundred thousand ;
nearly three times the number returned for 1843, and a hundred times as many as
took to the road in the days of stage coaches. The passengers of 1849 actually double
the sum of the entire population of the three kingdoms.
The statement of capital which the six thousand miles now being hourly traveled
over represents, will require the reader to draw a long breath; it is one hundred and
ninety-seven-and a-half millions of pounds sterling. Add to this the cash being dis
bursed for the lines in progress, the total rises to two hundred and twenty millions 1
The average cost of each mile of railway, including engines, carriages, stations, &c.y
technically called “ plant,” is thirty-three thousand pounds.
Has this outlay proved remunerative ? The commissioners tell us that the gross
receipts from all the railways in 1849 amounted to eleven millions eight hundred and
six thousand pounds; from which, if the working expenses be deducted at the rate of
forty-three per cent, (being about an average taken from the published statements of
a number of the principal companies), there remains a net available profit of about
six millions seven hundred and twenty-nine thousand four hundred and twenty pounds,
to remunerate the holders of property to the amount of one hundred and niuety-seven
millions and a half; or at the rate, within a fraction, of three-and-a-half per cent.
Here our parent of railway prospectuses chuckles. He promised twenty per cent
per annum.
In short, in everything except the dividends, our scheming friend finds that recent
fact lias outstripped bis early fictions. He told the nervous old ladies aud shaky “ half
pays ” on his projected line, that railways were quite as safe as stage-coaches. What
say the grave records of 1849 ? The lives of five passengers were lost during that
year, aud those by one accident— a cause, of course, beyond the control of the victims;
eighteen more casualties took place, for which the sufferers had themselves alone to
blame. Five lives lost by official mismanagement, out of sixty-four millions of risks,
is no very outrageous proportion; especially when we reflect, that taking as a basis
the calculations of 1843, the number of miles traveled over per rail during last year,
may be set down at eight hundred and forty-five millions; or nine times the distance
between the earth and the sun ! Such are the railway wonders of the year 1849.
THE RAILWAYS OF RUSSIA.
A French journal publishes from the Augsburg Gazette, an interesting account of
the progress which has been made within the last few years in the prosecution of rail
ways in Russia. From this article we gather the following facts :—
The first railway in Russia was that leading from St. Petersburg to Tsarskozela and
Paulowski, two imperial residences, a distance of 17 miles. This road was opened in
1836, by a company consisting in part of British capitalists ; and the shares which cost
40 or 50 dollars, are now worth 60 to 70. This was soon followed by the great enter
prise undertaken by the Emperor, in which he took a deep interest, of a first class
railway from St. Petersburg to Moscow, 607 versts in length, or just about 400 Eng
lish miles. In the prosecution of the work it is well known by the friends of the late
Major Whistler, who was one of the efficient engineers of the Western Railroad in
Massachusetts, that he was invited thither through the agency of Mr. Bodisco, the Rus.
Railroad , Canal, and Steamboat Statistics.
637
6ian Minister, and was employed in a very responsible situation in the conduct of the
work, until his death, which took place a short time before it was finished. Under
the agency of Mr. Whistler, a large number of American mechanics were invited to
Russia, and employed in the construction of locomotives and machinery.
This work was constructed under the direction of the Minister of Public Works,
Count Kleir Michel, aided by Major Whistler, and was opened on the 1st of Novem
ber, 1851. It is found to be of immense benefit to the Commerce of the country, and
the business upon it is daily increasing. The passage is made from the one capital to
the other in 22 hours, which previously occupied four days in diligent traveling day
and night.
The Augsburg paper goes on to relate this line had been hardly finished, when the
emperor ordered the construction of another gigantic road between St. Petersburg and
Warsaw. The track has been laid out, and thousands of laborers are now engaged
in grading it.
This road will be 1,010 versts* or 668 miles long. It will pass by the cities of Louga, Pskoff, Dunabourg, Wilna, Grodno, Vileka, Duna, Yiala, Niemen, andNarev. Gen.
. Gertsfelt, of the corps of engineers, directs the works of this road.
While this great railway is in prosecution, a company has been formed at Riga for
building a branch which is to unite the seaport with the city of Dunabourg, and thus
connect Riga with the two Capitals of Russia and Poland. This branch, the track of
which was laid out by the engineer Gonzenback, will be about 138 miles in length.
It will keep along the right bank of the Duna, and will pass near the cities of Johobstadt and Freidricstadt. The capital is fixed at nine millions of rubles, and it is hoped
that the government will grant a guaranty of interest at 4 per cent.
Another line, which is not yet begun, is to unite Dunabourg by Smolenski, with
Moscow, and establish a direct communication between this ancient Russian capital
and Warsaw, by the route which was pursued by the advance and retreat of the French
army in 1812.
In the south of the empire, the government is about, it is said, to authorize a company,
by granting a guaranty of 4 per cent, to undertake the construction of a railroad be
tween Kharoff and Odessa. This road will cross Dnieper at Kreineetchong, above
the rapids, which obstructed the navigation of the river. This road will benefit the
Commerce in grain in the same manner as the line from Dunabourg to Riga is destined
to help forward that of timber.
Finally, in the kingdom of Poland, where for some years the line from Warsaw to
Mysolvitz, in Prussian Sileia, has been in full activity, two other lines are thought o f:
one from Warsaw to Bromberg, the other from the same capital to Posen; but the ar
rangements necessary to be made with the Prussian government for this purpose have
not reached a satisfactory result. The line from Warsaw to Mysolvitz, a little more
than 200 miles in length, puts the capital of Poland in communication by railway with
Vienna and Berlin, and consequently with Paris. When the line which is to join
Warsaw to St. Petersburg is open for travel, which it is expected will be in about
three years, the immense distance which separates France and Russia may be traveled
over in four or five days.
EFFECTS OF RAILROADS ON AGRICULTURAL PRODUCTS.
The town of Fayetteville, N. C., situate in a great agricultural region, has for years
had to depend for its supply of hay on the New York and other northern markets.
Recently the Western plank road, connecting with that city, has been finished, and a
short time since they received over 10,000 pounds of hay, (of a better quality than
they have been getting from the North,) brought in from Forsyth county, N. C., at
$1 25 per 100 pounds. The Fayetteville Observer says:—
W e learn that such hay has been abundant in that county at 30 cents per 100
pounds, but that since the article has been brought here at a profit, it has risen to 50
cents. The meadow from which this hay came, has yielded at the first cutting this
year about 2,500 pounds per acre— of herds grass, clover, <fcc. At the second cutting
it will yield fully as much more of blue grass. Five thousand pounds, worth formerly
at 30 cents, $15 per acre ; worth now, at 50 cents, $25 per acre. This shows a clear
gain to the farmer of $10 per annum per acre, or interest equal to an increase in the
value of his land of $166 66 per acre.
Journal o f M ining and Manufactures.
638
THE PENNSYLVANIA RAILROAD.
The following is a statement of the comparative receips of this work for the month
o f August this year and last, and for eight months of this year and last
Months.
........
February.................
March...................... ........
A pril...............................
May.................................
J une....................... ........
July ..................... ........
A u g u s t................. ........
1852.
92,172 50
13
243,1m 71
204,808 94
161,583 92
122,152 83
112,879 52
149,966 80
1853.
233,536 26
284’461 49
310,955 82
270,126 62
195.C72 90
156,978 59
157,244 90
236,493 19
Increase.
141.363 76
128,810 36
67,182 i i
65,317 68
33,488 98
34,825 76
•44,365 38
86.526 S9
Total increase.
270,174
337,356
402,673
436,162
470,988
515,354
601,880
12
23
91
89
65
03
92
JOURNAL OF MINING AND MANUFACTURES.
THE MANUFACTURE OF OTTO OF ROSES.
W H E R E IT *IS PRODUCED, THE QUANTITY MADE, ITS VALUE AND USE.
The time has been when Tunis used to furnish the finest Otto of Roses known in
Europe; at present not an ounce is exported from there. Mecca, Aleppo and Damas
cus have been said to yield it in abundance; but now. all these places, including Tu
nis, are supplied from the market of Constantinople. Ghazipore in India, on the
Ganges, and not in
“ The vale o f Cashmere
With its roses the brightest the world e’er gave,”
still prepares a rich and extremely dear oil, but it is never exported thence to Eng
land. It is almost entirely consumed among the people there on festival occasions.
Its price also is enormous, said to be one hundred dollars an ounce.
The center of production in Turkey in Europe for the Oil o f Roses which is exported,
13 in a small district called Aasanlik in Bulgaria. Hasanlik is a shire-town about 200
miles north west of Constantinople, and gives its name to a district of thirty-six vil
lages, which is devoted mainly to the cultivation of the rose. Though the villages
are all situated on a plain on elevated ground, yet, as the plain is protected by high
mountains, the climate of the region is very moderate. The inhabitants are all of the
Bulgarian Sclavonic race, in part Mussulmans and in part Christians. The rose which
they cultivate for the sake of the leaves is the Red Centifolia.
“ The floweret o f a hundred leaves,”
and is planted in the open fields with the same profusion as com or potatoes with us.
The roses are in full bloom by the month of May, and before the second week in June
the harvest o f the leaves .has been completed, and nothing is done in collecting them
at any other time. During the season of flowering, the whole country fur miles be
yond the d'strict is redolent with odor of roses. The digging and pruning of the
bushes, collecting the leaves, the process of distillation, and the manufacture of ves
sels to hold the oil, occupy the people nearly the whole of their time.
In distilling the oil, the usual process for extracting volatile or essential oils is pur
sued. The rose leaves while fresh are placed in the alembic, and fresh water is
poured upon them. The water which comes off is successively distilled, and finally
the oil, being the lightest, rises to the top, and is skimmed off. The oil is limpid, but
with a tinge of orange color. It is said to take three hundred thousand roses to yield
an ounce iff oil. It is brought to Constantinople in flat-sided, round-edged, tinned
copper vessels, each hermetically closed, and sealed with the maker’s name. These
ca*es vary in size from those capable of holding an ounce to those which hold sfeven
pounds, and even more. A t Constantinople, after passing into other hands, it is put
up in gilt bottles which preserve the antique form of two hundred years back, and are
'^manufactured in Bohemia expressly lor the purpose.
The quantity of otto of roses produced in any one year varies like that of most pro
ductions of the soil. In the year 1837, a very good one, the district yielded 4,465
pounds. In the worst years they do not obtain more than 1,500 pounds, and an ordi
Journal o f Mining and Manufactures.
639
nary year’s amount of production may he estimated at something less than 3,000
pounds. The weight employed in buying and selling it i9 a peculiar one, the metical,
which is just a drachm and a half, and nine drachms make a Troy ounce. The fair
price of the veritable pure otto is about 65 cents the metical, or $6 an ounce, equal to
§72 a pound. Consequently, one of those copper cases may be worth $500, and the
oil is worth five to seven times its weight in silver. The price of the oil commonly to
be found may not be more than §4 or §5 an ounce; but as the amount exported is
nearly doubled by mixing with foreign oils, the value of the trade in otto of roses to
Turkey, may annually be about $400,000.
The oil that was formerly mixed with otto of roses was sandal wood oil, which is
worth only $5 or $6 a pound. In the mass it has little or no smell, but when diffused
its odor is very agreeable. It is much less liquid and flowing than the oil of roses,
and adheres a long time to the hand. Within comparatively a few years a new oil
has been introduced to dilute oil of roses and render it less overpowering. It is called
by the Arabs who bring it from Meccha, ittri shahi, which means “ shepherd’s per
fume,” and by auother name is called shepherd’s crook, or crane’s bill. This i« a kind
o f geranium, the odor of the oil of which very nearly resembles the odor of the leaf of
the pennyroyal geranium much more than it does the odor of the wild flower called
with us crane’s bill. The Arabs say that they make this oil among themselves, and
they sell it as low as $2 a pound, or one-thirty-sixth of the price of otto of rose. Its
odor in the mass is extremely agreeable, and produces none of the oppressive and
even nauseating effects upon some constitutions that oil of roses does. Both on ac
count of its cheapness, a certain similarity of odor, its likeness in color and weight
with otto of roses, no other oil combines so many qualities to render it appropriate to
mix with it and reduce its strength. In the common oil of roses found in the shops
there is probably fifty per cent of foreign oils ; and on account of the diffusibiiity of its
aroma it will bear to receive, without any perceivable depreciation (in the opinion of
ordinary judges) of its virtues and character, even eighty per cent of foreign oils, es
pecially o f the oil of geranium, if it has been cleanly washed in water and well
bleached in the sun.
T he reduction o f its strength b y m ixture begins at Hasanlik. The people there are
probably ready to supply nearly a^ m uch as there is a profitable dem and for. The
oil o f geranium is som etim es poured upon the leaves and distilled over with the liquor
o f the roses. A sufficient quantity o f oil o f geranium , to suit the necessary profits o f
the seller, and the price the buyer is w illing to pay, is also added previous to export
ation ; and large quantities o f the sam e oil are exported to foreign lands, and m ay
serve to adapt the quality o f otto o f roses to the exigencies o f purchasers. It is a
p ro o f o f the progress o f refinem ent and luxury and o f the prosperity o f Am erica, that
the highest priced and therefore the purest otto o f rose is m ore and m ore sought for
front Turkey.
There are individuals -in Constantinople whose profession it is to exam ine and test
for the merchants, the quality o f otto o f roses, and they w ill readily divide the sam
ples offered to them into five or six qualities, alm ost entirely by the sense o f sm ell,
and they are the persons who m ost successfully perform the m anipulations necessary
in m ixing. It is said they never fail o f com ing within tw o per cent o f the am ount o f
foreign oil existing in any specim en offered to them to exam ine. The com m on test
am ong all classes engaged in the trade is to moisten a piece o f white paper with some
oil o f roses, and if it is pure otto, it w ill entirely evaporate, leaving not a trace upon
the paper, but yet a very m arked perfum e. I f it is a m ixed oil, it w ill, on the con
trary, leave a stain on paper, but no odor.
The usual appearance of otto of roses is here sufficiently well known by all but the
green-horns. They, however, are always numerous enough to induce the Jews of
Smyrna and Constantinople to prepare, in exchange for people’s money, the meanest
compound o f scented grease and oils, and they waylay sea captains and travelers in
the streets, and induce them to buy at prices not much below common otto of roses,
numerous bottles of something resembling rather spermaceti and oil, as choice pres
ents to their wives and friends. Occasionally such persons go home with most fabu
lous stories of the cheapness of oil of loses on the Levant. One afternoon, last year,
an American traveller returned to his hotel from an excursion in the bazaars of Con
stantinople, and exultingly showed to his fellow travelers a precious speculation he
had made in otto of roses. He had bought six ounces in as many bottles for five dol
lars a bottle. An intelligent companion soon convinced him that he had obtained
nothing but six bottles of olive oil, scented with rose, and in a natural fit of indignation
Journal o f M ining and Manufactures.
640
and mortification, he opened the window and threw bottle after bottle on to the
pavement of the street below. As otto of roses is an oil, many seem to suppose that
the more oily it is the better the otto, even if it is as unctuous as bear's grease.
America is probably a larger consumer of otto than any country of the same amount
o f population, but no indication can be found in this of the strong attachment the la
dies may have for costly aromas. For one pound of otto of roses that is sold to the
perfumer, a hundred pounds are sold to the snuff manufacturers, to scent therewith
their best snuffs!
The water that has been employed in the process of distillation to obtain the oil of
roses, furnishes what is called rose-water. It is brought abundantly to the city in
barrels like wine, and sold about as cheap, costing not more than eight or ten cents a
quart. Constant use is made of it on festival occasions in the Greek and Armenian
churches, and it is also sprinkled on guests as a token o f welcome by the members of
the family.
COAL MINES OF THE UNITED STATES.
The coal mines of the United States are of unknown extent, and incalculable value.
The coal-producing States are as follows, as stated in R. Taylor’s well-known work :
— Alabama has 3,400 square miles of coal; Georgia 150 miles; Tennessee 4,300;
Knetucky 13,600; Virginia 21,195; Maryland 550; Ohio 11,900; Indiana 7,100 ;
Illinois 44,000; Pennsylvania 15,437 ; Michigan 5,000; Missouri 6,000. Total square
miles of coal in twelve States, 133,132.
Of this Illinois has the largest surface, being one third of the whole ; but her mining
lands are undeveloped. Illinois contains 43,960 square miles, equal to 28,134,400
acres. The greatest developments have been in the mines of Pennsylvania. The
greatest amount of capital and labor has been spent on them, and in providing by
canals and railroads conduits to market. These mines also have been in course of
working the longest period. The areas in this State, occupied by anthracite, semibituminous coals, are equal to 9,879,680 acres; over one third of the superficies of
Pennsylvania is covered by productive coal formations, a proportion more than three
times greater relatively than great Britain, the most productive of the European
countries.
The production and use of coal in this country is of very late date. The first an
thracite coal found its way from Pottsville to Philadelphia, in the year 1812, only
forty years ago; from the Lehigh region in 1814, from Wilkesbarrein 1820. The first
bituminous coal reached tide-water down the Susquehanna only in 1804; less than
half a century since.
In England coal has been consumed for fuel from the beginning of the thirteenth
century. In Scotland only from the close of the last century. In France, from the
beginning of the fifteenth century; and in Belgium from the year 1198. The Belgian
coal mines therefore are of the most ancient date as to their working.
*
The coal of Pennsylvania lies on the surface, or nearly so, an advantage which the
coal of Europe does not possess, as that has to be dug out from very low depths.
The strata of the great bituminous coal region of the Alleghany Mountains closely
approximates to a horizontal state; no coal region in the world offers more ready fa
cilities for cheap mining thau does that of Pennsylvania: where it is found rather on
the surface, or at a very insignificant depth below it. The great Alleghany or Appa
lachian coal-field extends through eight States, 750 miles long, and 173 broad at its
greatest breadth, but averaging a breadth of 85 miles, giving an area of 65,000 square
miles of bituminous coal.
The three divisions of the area of anthracite coal formations in Pennsylvania are—
The Southern or Schuylkill coal region...........................
The Middle Coal District, including the Mahony and
Shamoken, to the Lehigh ..............................................
Wyoming, Wilkesbarre, and Lackawanna, or Northern
region.................................................................................
Total area............................................
Square Miles.
Acres.
364
104,960
115
73,600
118
75,520
397
254,080
The most southern coal-field of Pennsylvania is that of the Dauphin, which abuts
on the Schuylkill at Port Lyon or Dauphin, and is connected with the Pennsylvania
Journal o f M ining and Manufactures .
64 1
Central Railroad, and with the Schuylkill Canal, and has an outlet to tide-water at
Havre de Grace. This is the least developed of the coal regions of Pennsylvania, but
will be found quite as rich as any when more fully worked. The approaching con
nection by railroad to join the Reading Railroad, will give it also a northern outlet.
We have, therefore, east of the Alleghanies, first, the west and northwestern section,
including the Wyoming coal-field and Lackawanna region. We have, secondly, the
middle region, the Shamokin basin east of the Mahony mountain; thirdly, the great
Schuylkill region, the center of which is Pottsville, which puts its coal in circulation
by the great Reading Railroad; and, fourthly, the Dauphin region, which stretches in
a direction from southeast to northwest, and joining the Schuylkill.
The companies working the mines combine the double object of mining and trans
porting coal. The obvious distinction between carrying and producing is not main
tained as separate business. The Lackawanna and Pennsylvania coal companies
draw their supplies from the Northernmost wing of the coal-field, Wyoming.
The Reading Railroad Company, the Schuylkill Navigation Company, the Lehigh
Company, all occupy the Schuylkill and Middle Coal regions; while the Dauphin
Coal Company works its own estates in the southeastern portion of the coal-field, but
towards the Southern market of Baltimore.
The coal-fields of British America are equal to an area of 18,000 square miles. The
coal fields of Europe have been estimated as follows:— Great Britain, 11,850 square
miles; Spain 3,408; France 1,719; Belgium 518. But the actual yearly product of
coal in different countries is as follows:— Great Britain 31,500,000 tons; Belgium
4,960,000 tons; United States 4,400,000 tons; France 4,140,000 tons.
These facts are worth preserving for future reference.
A SPANISH CIGAR FACTORY AT VALENCIA.
A correspondent writing from Valencia, Spain, thus describes a visit to a cigar
factory:—
Valencia is an object of particular interest to the Spanish, from its being the place
where is located one of the three or four government manufactories of tobacco and
cigars. As in most countries of continental Europe, tobacco is a government monop
oly, from which a very considerable amount of revenue is derived, and one of the
sources of income which disturbances and revolution do not distroy. The Spaniard
has no objection to a prominciamento occasionally, always provided it does not de
prive him of his cigar. 'I he latter is a necessary of life, while the former is a luxury in
which he can only indulge at uncertain intervals. Official documents now before us
show that the government income from the tobacco monopoly last year amounted to
the sum o f 199,000,000 reals, minus 46,000,000 reals expense, leaving 144,000,000
reals— or about $7,200,000—clear income. If we take the gross revenue, we find that
no less than $9,000,000 worth of tobacco is consumed in Spain yearly, exclusive of
the amount smuggled into the country, which, owing to the inferior quality of the gov
ernment tobacco, is enormous— so enormous indeed, that when a few years since the
yellow fever was raging at Gibraltar, so fearfully as nearly to put a stop to smug
gling, from that great depot of smuggled goods, it was necessary to employ several
thousand extra hands in the government establishments; and even then the demand
was greater than the supply. How large the amount of contraband tobacco is, I have
no meaus of judging, but it must amount to at least a couple of million of dollars
worth yearly; for you can always buy at the hotels, and of persons who accost you
mysteriously in the street, smuggled cigars, said to be of excellent quality. But to
return to the factory of Valencia. I found no difficulty in gaining access to it, though
there is constantly a guard at the door to see that nothing is carried out unlawfully.
I went first to the snuff department, where work had ceased, but I was seized with
such a fit of sneezing, that I was glad to escape with my head still remaining on my
shoulders. But in the cigar departs ent the scene was a different one; here, in four
large rooms communicating with one another, were assembled no less than 3,500 fe
males of all ages, jabbering as fast as their tongues could move, and, without a single
exception, destitute of the first element of beauty. They were working at tables ir
regularly placed, and each with a basket at her side, so that we had some difficulty in
picking'our way among them. As we entered each room a murmur, “ Hush!” ran
through it, which my companion insisted was one of astonishment at the rashness of
two “ coat-tails ” in venturing among thirty five hundred “ little-coats,” (for be it known
V OL. XXIX.---- NO. V.
41
642
Journal o f Mining and Manufactures.
my friend was a modest man,and refused to pronounce the word “petti” in that con
nection.) However this may be, the jabbering recommenced as soon as we passed,
with an activity which indicated a laudable desire to make up for lost time. It is
astonishing to see the rapidity with which they w ork; a little tobacco is taken from
the basket, rapidly rolled and broken in the hand, a nice leaf selected as a cover,
which is quickly rolled over the broken pieces, one end is fastened with a little gum,
and when clipped to the proper size the product appears quite a respectable cigar,
though, if rumor is to be believed, here, as in many other things, appearances are in
the highest degree deceptive. Much of the tobacco used comes from the Philippine
Islands, but Maryland, Virginia, and Kentucky, supply their share, and Havana does
the same, at least in name. The girls are paid by the package, and the best of them
earn about five reals, or twenty five cents per day, of about eight hours, for they sel
dom work logger than that. I was surprised, however, to find that the woman who
accompanied us about the establishment refused any fee, and by the offer of it, I ob
viously offended her “ pundonor,” point of honor.
This is not the first time that it has occurred to me in Spain, and I confess that,
though it sometimes embarrasses me, there is something pleasant in finding that every
one is not trying to get as much money out of you as possible. There seems to be,
among a certain class of Spaniards a feeling of pride, which prevents the acceptance
of money in return for little services, which does not exist among similar classes in
other countries of Europe.
THE SCIIUVLKILL COAL TRADE,
Mr. Ziebcr, the agent of the Merchants' Magazine in Philadephia, has published a
Table, entitled, The Coal Trade of Schuylkill Co., Pennsylvania. It was compiled by
C. W. Peale and J. M. Wetherill, for the World's Fair at New York, and it furnishes
much valuable information. The region embraced includes the Little Schuylkill, the
West Branch, the West Norwegian, the East Norwegian, Mill Creek, and Schuylkill
Y aliey; and it comprises within its limits one hundred and eleven collieries, of which
58 are red-ash coal, and 43 white ash coal. Seven of the red and four of the white
ash collieries were not in operation during the year 1852— being new ones. Of
these collieries 62 are working coal out above water level, and 49 below water level.
48 of the red-ash collieries shipped during the year 1852, 176,675 tons, and 40 whiteash collieries shipped 1,520,744 tons, making a total of 2,297,419 tons. This is not
the whole amount of coal shipped during the year 1852, as there were collieries in
operation during that year that are not now in operation; consequently this collection
does not include them. There was shipped from this region, including the Little
Schuylkill district, via Reading Railroad, 1,650,912 tons, and via Schuylkill Canal
800,038 tons, making a total of 2,450,950 tons. The Little Schuylkill region sent of
this amount 325,099 tons. There are 122^ miles of under-ground railroads, 6J miles
o f which are through rock tunnels, and 116J miles in gangways through coal. There
are 210 steam-engines employed directly at the various collieries; 3,805 horse-power
for hoisting coal and pumping water from slopes and shafts, the deepest of which is
353 yards and the shortest 33 yards ; 1,375 horse-power for pumping water only, and
1,891 horse power for preparing the coal for market; making an aggregate of 7,071
horse-power. There are employed, inside and outside, at the various mines, 9,792
hands, 468 horses, and 569 mules. There are 2,756 miners’ houses, exclusive of houses
occupied by miners and laborers in the large towns. The amount of individual capital
invested in the coal business $3,462,000. This amount does not include that invested
by the landowners, which is also very large. The thickest vein worked is eiglrty feet,
and the smallest two feet.
SUBSTITUTE FOR GUTTA PERCHA.
Dr. Riddell, of India, in making experiments on the Muddar plant of India, (asclepia
gigantea, found that its milky juice, when dried, became tough and hard like gutta
percha, and precisely analogous to it. It is charred by sulphuric acid, converted into
a yellow resiuous substance by nitric acid, and but little or not at all acted on by mu
riatic or ascetic acid or alcohol. Spirits of Turpentine dissolves it into a viscid glue,
which, when it is taken between the thumb and finger, pressed together and then
separated, shows numberless minute threads, all which results exactly correspond
with those of gutta percha. Iu hot water it becomes plastic, and has been moulded
Journal o f M ining and M anufactures .
64 3
into cups and vessels. It will also unite with the true gutta percha. The muddar
also produces an excellent fiber useful in the place of hemp and flax. An acre of land
cultivated with it would produce a large quantity of both fiber and juice. The poorest
land suffices for its growth. A nearly similar substance is procurable from the juice of
the euphorbia tirucalli, only when it hardens after boiling it becomes brittle. The
subject is most important, as the demand for gutta percha is so certain quickly to ex
ceed the supply of it that can be procured.
MANUFACTURED GOODS.
The London Spectator makes the following remarks in an article urging upon Eng
lish manufacturers to look well to the quality of their goods, if they would secure
themselves from foreign competition, which may yet drive out many of their goods
from the markets of the world. The same advice is suited to our own market, and
we hope our manufacturers are shrewd enough to see of themselves wherein lies their
security for the largest and most permanent profits :—
Some years ago, there was a stuff well known in this country as Nankin cloth, col
loquially “ nankeen,” which had the recommendation of being a wholesome summer
wear, and of being exceedingly durable. It was used in various cases for jackets,,
trowsers and children’s clothing, as combining lightness and durability; ana those
qualities extended a use which could not have accorded to any beauty that it pos
sessed. The consumption was great, and at a certain period it expanded considerably.
The merchant and the manufacturer probably thought that their profits could be iiv
creased by diminishing the original cost and substituting an inferior article ; at all events,
it was found in practice that nankeen did not possess the quality of durability which
was originally thought to be implied in the very name; the article fell into discredit,
into disuse, and the trade declined. Attempts were made to recover it, by the only
legitimate means—by restoring the sterling quality of the stuff; and that was done,
but the lost traffic was not regained; and the trade, which was once as sterling as the
blotli itself, is extinct.
There is no imperishable immunity for English trade; its tenure can only be fairly
earned by doing suit and service in the way of sterling w ork; and if English com
modities follow the example of nankeen in foreign markets, the trade will undergo a
like fate. We could parallel the story of nankeen cloth in anecdotes of needles with
out eyes, watches warranted to go for 24 hours, with other examples of practice; and
indeed these tricks, although not hazardous to the same degree, are to a certain ex
tent copied very extensively through the deterioration of English wares in other
things than woolen cloths. Much of the iron manufacture has been observed of late
years to show traces of flaws in the manufacture, at which the vender must have
winked. The frauds in this building trade are notorious, but as we do not export
houses, the discredit and the discomfort are luckily kept at home. It is in the export
commodities that the deterioration is most mischievous ; and while we look with pride
to the enormous expansion of our exports during the present year, we may well ask
ourselves whether it is safe to send abroad so many samples, as there must be in these
exports of fraudulent cheapness ?
AMERICAN SEWING MACHINES IN SCOTLAND.
The following compliment to American sewing machines, nearly all of which have
been illustrated in the columns of the Scientific American, is taken from the Glasgow
Chronicle:—
A machine of American invention has been introduced into this country by Air.
Darling, of Glasgow, at whose manufactory numerous examples of it are now in
operation, which carries the mechanical principle into a fresh department of human
labor— namely, that of common hand sewing. The patent sewing machine promises
to produce a revolution in the business of the seamstress as great as the power-loom
effected in that of the weaver. This is, in truth, a moderate statement, for the capa
bilities of the machine have not yet been fully tested, and it is impossible to say how
far its influence on the labor market may yet extend. By the hand the machine may
be driven at the rate of 500 stitches per minute ; by the foot, at nearly twice that
644
Statistics 0/
Agriculture, etc.
rate. Nor must it be supposed that the work executed at this extraordinary rapid
rate is loose, irregular slop sort of work. On the contrary, it is strong, close sewing,
beautifully regular, such as it would require a very firm and well-practiced hand to
equal. Now, after all that lias been said about American reaping machines, what
will be said about this new American sewing machine, which seems likely to do still
more towards facilitating indoor labor than the larger invention towards abridging
the work of the field? We do not wish to exaggerate the probabilities of the case,
but it must be remembered that the invention has- so far passed the period of proba
tion that it is in very extensive operation in America, that such trial as it has had in
this country has been extremely successful, and that already its inventors are im
proving on it and adapting it still more carefully and completely to its end. Looking
at it when at work, it is impossible to resist the conclusion that it is destined com
pletely to supersede all ordinary plain hand sewing, and that sewing, as an occupa
tion for either men or women, tailors or seamstresses, is gone forever.
STATISTICS OF A G R IC U L TU R E , &c.
THE TOBACCO CROP OF CUBA,
T r in id a d d k C u b a ,
September 29th, 1853.
To F r e e m a n H unt , Editor of the Merchants' Maagzine:—
Sia— I send you herewith some observations upon the Tobacco crop of this Island,
which are taken from an intelligent source, and may be of interest to some of your
readers.
The Tobacco plats are generally upon the margin of rivers, yet there is a large
quantity of good Tobacco raised upon high lands distant from rivers, but the former
situation is preferable.
The quantity of land cultivated depends altogether upon the means of the cultiva
tor, and the product of the crop differs in value according to quantity and quality; as
high as §30,000 has been realized by some of the heaviest Planters from a single
crop of Tobacco, whilst the expenses attending its cultivation are considerably less
than those incident to the raising of sugar-cane.
When the Tobacco is gathered, it is hung upon poles about fifteen feet in length to
dry ; the leaf is allowed to remain a short time in the air after it is ripe, to dry a lit
tle, but not so much as to cause it to break during the operation of hanging.
As soon as the Tobacco is dry it is piled, selecting a day for this purpose a little
damp, that the leaf may not be liable to be broken in the handling; the pile when
made is carefully closed from the a ir; the floor of the piling-house is made of wood
and elevated from the ground that the moisture may not rot the Tobacco; the pile is
formed with symmetry and in such a manner that the leaf may not be broken. This
operation of piling is made that the Tobacco may acquire a good color, and it is never
allowed to remain more than two months in this way, when, by this time and often
much before, the selection and preparation for market is made.
The preparation of the Tobacco for market is as follows, v iz; the largest, most per
fect and best quality leaves are first selected and are called Libra, and are superior
to all the others; the next is called Primera, and is nearly equal to the former; then
comes the Segunda, a little inferior to the Primera, and so on down to the Sesta, or
sixth, which is the last selection o f the Tobacco called Principal. From this there is
likewise taken the Quebrado, or damaged, to which class belongs all the large leaf
which is broken, or worm eaten in the field.
The Principal is composed of all the Tobacco taken from the plants for the first
645
Statistics o f Agriculture, etc.
time, as the leaves o f the second gathering produce another class of Tobacco which is
called Capadura, and is inferior to all the former mentioned kinds.
There is likewise a kind called Libra de Pie, which is made up from the first leaves,
or those which come in contact with the ground, and is the poorest quality of the
Tobacco.
After the selection as above expressed is finished, the Tobacco is packed, by form
ing the leaves into bunches, as follows, v iz: the Libra and jfrimera is composed of
twenty-five leaves, the Segunda of thirty, the Tercera of thirty-five, and the Cuarta of
forty, which are the classes used for wrappers ; and the remainder are composed o f
fifty leaves, and used for fillings; these bunches are then packed into bales of about
one hundred pounds weight.
The most destructive worm feeds upon the Tobacco at night, hiding during the
d a y; they are pursued at night by the Planters with torches made from pitch-pine
slivers.
Your obedient servant,
A SUBSCRIBER.
PROFITS OF WOOL GROWING.
Mr. M cC o rm ic , a wool-grower of Pennsylvania, communicates to the Western Plow
Boy, his experience as to the profit of wool-growing. He says:—
I shall confine myself more particularly to my experience with a small flock o f ex
tra Saxon Marinoes, of fifteen head, which I purchased of M. McCeaver, of Washington
County, Pa., for which I paid him one hundred and twenty-five dollars in April, 1851.
The fifteen head sheared in June, 1851, fifty-eight pounds of well washed wool, for
which I received seventy-five cents per pound. That season I raised but eight lambs,
ten of said ewes only were with lamb, the other five being but two yearB old.
In 1852 I had with the old stock and the eight lambs twenty-three head to shear,
they sheared eighty-six pounds, for which I received but sixty cents per pound— wool
being lower than in 1851. I raised twelve lambs, and sold them in July for three
dollars per head, thinking they could not stand the drive to this State. I sheared
said sheep about two weeks since, they sheared nearly four pounds average, some of
them shearing as high as five pounds, and I have fourteen lambs, worth three dollars
per head.
I have not sold my wool, but I shall ship it to Licking County, Ohio, where I ex
pect to get eighty-scents per pound, wool being higher this year than for some years
past, and no doubt will remain so for some years to come. Now, sir, I will figure a
little and see if I have made anything, after paying $8 33£ cents per head for my
sheep.
Cost of sheep April, 1851.........................................................$125
Expense of pasturing from April till June, 1851...............
1
Received for 58 lbs. of wool June, 1853..............................
43
Raised eight lambs in the year 1851...................................
40
June, 1852, the 23 sheep sheared 86 lbs. at 60cts. per lb.
51
July, 1862, sold 12 lambs f o r ...............................................
36
Cost of keeping from June 1851 to 1852............................
32
June, 1853, sheep sheared 88 lbs. at lb centsper lb...........
66
This year have 14 lambs at $3 per head.....................
42
Cost of keeping from June 1852 to 1853............................
34
The old stock still worth........................................................ 125
Deduct cost and keeping........................................................
00
50
50
00
60
00
00
00
00
00
00
403 00
192 50
Net profit from April, 1851, to June, 1853, on $125........ $211 00
The expense o f washing and shearing I have not calculated, it w ou ld not exceed for
the three shearings ten dollars.
646
Mercantile Miscellanies.
STOCK AND FARM PRODUCE OF THE CANADAS.
In a letter from W. L. Mackenzie, published in the Demville Independent,we find
the following in relation to the production of the two Canadas :—
In all Upper Canada there are 99,860 occupiers o f land, of whom only 3,080 occu
py above 200 acres, nearly ten million acres are then occupied, of which over twothirds are cultivated.
The crops of 1861 were, wheat, 12,692,862 bushels; oats, 11,193,844 bushels ; In
dian corn, 1,696,613 bushels ; potatoes, 4,987,475 bushels; turnips, 3,644,942 bushels ;
hay, 681,782 tons; wool, 2,699,764 pounds; maple sugar, 3,5S1,505 pounds, Ac,
Other products, Ac., were butter, nearly 16,000,000 pounds; cheese, 2,226,746
pounds; beef, 817,646 barrels; pork, 528,129 barrels; fulled cloth, 527,466 yards.
There are in Upper Canada 193,982 bulls, oxen and steers; 296,024 milch cows ;
254,988 calves and heifers; 203,300 horses; 988,822 sheep ; 569,257 pigs.
Lower Canada has 94,449 occupiers of 8,113,915 pcres of land, of which 3,605,517
are cultivated. The crop of wheat last year was only 3,075,868 bushels; of oats,
8,967,504 bushels; of potatoes, 4,456,111 bushels; of hay, nearly a million tons; nearly
a million and a half pounds of w ool; six million pounds of maple sugar; nearly ten
million pounds butter; 223,870 barrels of pork, Ac.
Lower Canada also manufactured 780,860,950 yards fulled cloth; 889,523 yards
linen ; 860,550 yards flannel.
M E R C A N T IL E M ISC ELLA N IES.
THE MERCHANT: OR TRADE, IN RHYME.
The following lines were written by a contributor to The Casket, a paper edited by
the ladies o f St. Anthony, Minnesota— away on the verge of civilization— and read
each week during the winter months before the St. Anthony Lyceum. The piece
needs but to be read in order that its aptness may be appreciated.
Tare and tret,
Gross and net,
Box and hogshead, dry and w et;
Ready made,
Of every grade,
Wholesale, retail, will you trade ?
Thus each day
Wears away,
And his hair is turning gray !
O’er his books
He nightly looks,
Counts his gains and bolts his locks.
Goods for sale,
Roll or bale,
Ell or quarter, yard or nail;
Every dye,
Will you buy?
None can sell as cheap as I!
By and by
He will die—
But the Ledger book on high
Shall unfold
How he sold,
How he goi. and used his g o ld !
THE BIERCHANT’S CLERK.
A correspondent of the Brooklyn Eagle, who subscribes himself Ebenezer Sprout,
relates the following anecdote:—
It was a hot sultry day in the latter part of August, a day truly worthy of New
Y ork; the dirt in the streets, which had been swept into little heaps, was scattered
about by the cart wheels and found its way into every nook and crevice. A day
which makes merchant's clerks wish for a mouthful o f pure air and a cool draught
from
u The old oaken bucket that hangs in the well.”
In the afternoon of this very day that I have attempted to describe, there might
have been seen in the counting-room of Messrs. Shaver & Skinem, if I read the sign
correctly, a pale, sickly looking young man about twenty years of a g e; he is bending
over a large ledger, but he soon closes it, and resting his head upon his hand he gazes
at the cover, but he does not see it, for his thoughts are far away on the banks of the
Hudson.
Mercantile Miscellanies.
647
I wish I was at home just now—he soliloquises. Brother John must be driving the
cows from pasturing, and his sons collecting the sheep from the hills, and the fowls
going to roost on the old pear-tree, and the whip-o will singing his clear song on the
cow-yard fence. I wish I was there. Now his head has fallen upon the ledger, and
wearied by incessant toil he has sunk into a quiet slumber. It will take many hours
of railroad travel to reach the destination of his thoughts, for they are far, far away
from the city.
Look ! something more than a shadow glides in at the door, cautiously unlocks a
drawer of the safe, and takes therefrom something that looks very much like a five
hundred dollar bank note— he closes the drawer, locks it, and glides out so quick, so
noiselessly, that he has disturbed nothing; and the clerk still sleeps on.
Suddenly he wakes with convulsive start, but he soon resumes his usual composure ;
he puts the books into the safe, locks it, and calling to the porter, who is on the next
floor above, he tells him he can close the office now for he’s going home. Home, in
deed ! A home from necessity, not from choice— a boarding house.
The next day he is looked at with a suspicious eye by Messrs. Shaver
Skinem,
and in the afternoon a gentleman with a star on bis breast walks into the office and
presents a warrant for the arrest of Christopher Call, clerk with Messrs. Shaver <fe
Skinem, charged with grand larceny. That night he sleeps in the Tombs—Tombs for
the living, not for the dead, though there are deaths there very often. He is tried,
and pleads not guilty; he looked so thin and pale, and his voice was so hollow, but
clear and distinct, that it is said that he haunted the court room for months after
wards. Y et he was acquitted. That night he was thundering along the railroad, and
early the next morning he was at home. But he was sick, yes, very sick, for more
than a month after. But he at last regained his health. He never entered into mer
cantile business again, but commenced farming, and is now a wealthy and much re
spected farmer in the vicinity of Hudson.
SMUGGLING BY WOMEN AT PARIS.
The smuggling of game and such taxable articles into Paris under the petticoats of
wmmen, has become so frequent that a female has been attached to the bureau of
several of the barriers, in order that she may search under the garments of suspected
individuals. Recently a woman with haunches, says the Patrie, the Hottentot Venus,
presented herself at one of the gates. The agents, who are always jealous of stout
people, requested the lady with the phenomenal contour to stop, bhe refused, and
pushed by. One of the custom-house employees seized her, and commenced pressing
his finger on various parts of her body, as if he were feeling to see whether she was
ripe. She screamed and fought, and in her struggles, a partridge fell from under her
skirts to the ground. Her contraband wares were probably strung like dried apples,
and the escape o f the partridge loosened the whole. Down came a quail, and then a
snipe, and then another quail, and a woodcock, till the woman, whose embonpoint had
visibly diminished, was thrust into the office, where the female attached to the estab
lishment commenced a thorough investigation. When all was over, the victim was
found to be a very spare person, not weighing over 95 pounds, and was consequently
sent to the prefecture o f police.
BUSINESS MEN WANTED.
The Newburyport (Mass.) Herald says: “ There is a demand for talent and experi
ence in business beyond the supply. Men suitable to take charge of manufacturing
and mechanical establishments, banks, railroads, mercantile, and other agencies, intel
ligent shipmasters, <fec., are not in supply equal to the demand, and the consequence is
likely to be that some, it is feared too many, of the projects and works of the day,
will fail for the lack of the capacity and experience to direct them, notwithstanding
the most liberal salaries are given, to proem e men supposed to be competent. A
vast number of people suppose themselves to be competent who are not so, and
though in some cases there may be meritorious and deserving people overlooked, yet
it is not often the case, and those who are content to move upward step by step, and
use a moderate degree of effort to please their employers, are sure to rise. A ll the
business talent and industry of the country is wanted, and few if any of those who
secure the confidence of those who employ them, in their ability and faithfulness, fail
of fair success and regular promotion.”
643
Mercantile Miscellanies.
ENGLISH C03IMERCIAL TRAVELERS.
In the first volume of the Merchants' Magazine (July, 1839, pages 37- 411) we gave
some accunt of the system of commercial traveling in England. This system, though
now in its wane, is still exercised to a very considerable extent throughout the United
Kingdom. The following account of the commercial travellers in England is from the
reliable correspondent of the Courier and Enquirer :—
There is a class of men in this country known as Commercial Travellers who may
be considered as separate and distinct from the great mass of Englishmen, and yet as
native to the land and totally incapable of being transplanted. They are mostly gen
tlemen, generally educated and never illiterate—shrewd, active business men— always
on the move and real birds of passage—now in the South, in a few days away to the
West, or traversing the Eastern or Northern counties. They all live at good hotels
and on the best the markets afford, meanness being no part of their character, and
niggardliness scouted by all of them. Their combined patronage will build up any
hotel, and particular houses in each town receive their support. The landlords treat
them with great respect, and the servants pay them marked attention. They keep
late hours— enjoy the amusements of the places in which they remain at night—sel
dom rise early— breakfast at the fashionable time— dine late and sumptuously— wine
being an indispensable at dinner; and dress genteely, but not either foppishly or in
the current mode of the day. They usually travel in second class carriages, they being
both respectable and convenient; and go from the stations to the hotels in cabs or flys,
seldom or ever condescending to walk that distance be it great or small. They are
affable, courteous, friendly and generally full of humor. When in cities or large towns
where business is to be attended to, they go about it at once— their settled rule being
to perform their duty first and make all other things subservient to their calling.
They are well informed upon most political subjects, and generally liberal minded—
freely enter into conversation with strangers, and readily accommodate themselves to
the society in which they are thrown. Constant intercourse with the inhabitants of
distant and secluded sections of the laud and strangers, makes them a distinct class,
and they meet the natives of the extremes of their own island with a friendly spirit,
always overlooking sectional peculiarities and sinkiug their early prejudices. They
look upon foreigners as brethren, and greet a German, a Frenchman, or an American
with as much cordiality as they do their own countrymen. They know no distinctions
among men beyond those which mark the gentleman from the blackguard, and judge
an individual by his conduct more than by his dress or social position. They are
without the insolent reserve of the untraveled and pompous Englishman, and possess
all that self respect and genteel breeding which characterizes the well informed and
dignified man. Many of them speak French or German, and some of them both of
these languages— have traveled on the continent and in Ireland and Scotland, and re
late their adventures with humor and spirit. They are strict disciplinarians in the
houses where they stop, and have a mutual method of recognition of their own,
amounting to a species of free-masonry. They travel almost constantly, year in and
year out, and seldom remain in a particular place beyond a few days, and often not
more than the few hours required for the transaction of their business.
Take them as a class, and they assuredly are a peculiar one, they are eminently
original and distinct from the balance of their countrymen. And now, who are they
and what are they ? the reader may ask. Let me tell you as far as I am able :— They
are connected with the extensive mercantile establishments and manufactories in the
large cities and towns, and travel through the country making sales of goods by sam
ple. They ordinarily receive a guinea per day for expenses, which accounts for their
liberal manner of living; and in addition to that sum they have salaries according to
their abilities, varying from one hundred to eight hundred pounds a year. Many of
them are married, but their almost constant absence from home prevents them from
enjoying for any length of time the comforts of a home, or the company of their fami
lies. But few of them accumulate fortunes in consequence of the expensive habits
they acquire in the performance of their duty, and numbers of them die prematurely,
leaving small and destitute children to the tender mercies of a selfish world. They
have, among themselves, benevolent beneficial societies, and support one or more
schools for the education of the orphan children of deceased members of their class,
to which they contribute liberally and pay considerable attention. They exhibit a
certain degree of pride in some matters, and never stop at a house that does not stand
second rate, considering themselves degraded by making a third rate house their tem
Mercantile Miscellanies.
649
porary home. But this comes from their employment and arises necessarily from it,
as English society is at present constituted, for the buyer will not be so likely to make
his purchases from the traveler who stops at the third class as he is from him who
frequents the second class inns, and therefore it is to the interest of the commercial
man, both in a personal and business point of view, to take up his abode iu those ho
tels to which the majority of his class give the preference and to which the purchasers
generally resort.
In their intercourse with society they endeavor to make themselves agreeable and
friendly, knowing well that cheerfulness and sociability, blended with good breeding,
will greatly advance their interest. This may be regarded by some persons as a sel
fish feature, but charity will lead the liberal minded man to conclude that there is less
of that spirit in it than a disposition to be on good terms with all mankind. In my
intercourse with them I have, with but few exceptions, found them as above de
scribed, and seldom rude or ungentlemanly, a thing I cannot in truth say of some of
those exquisites whom I have met, who pretend to consider themselves as made up
of a superior clay to that used in the make o f the commercial traveler; and there are
many of such animals in England.
In going from Worcester to Gloucester, I made the acquaintance of one of the best
of the class of “ Commercials,” and his frank and sociable manner pleased me much.
W e conversed freely upon various subjects connected with the present times, and I
found him well informed respecting the current events of the day in his own country
and on the continent, and tolerably well acquainted with American affairs. He knew
me to be from the New World by my general appearance, and told me of many per
sons resident in the United States with whom he was intimate, having made their ac
quaintance by meeting them under circumstances similar to those under which he and
1 had met.
RELIGION IN BUSINESS.
I f you wish to test the quality of a man’s religion, do not follow him to church,
where he must put on the garment of pious observance; but visit him at his store,
shop, office, or counting-room, and mark the spirit by which he is influenced in his deal
ings with his fellow-man. If he look only upon his own things, and disregard those
of his neighbor, you need not hesitate in your conclusion. I f he regard merely his own
interests, and, in securing his own, invades the rights of his neighbor, you need not
fear the imputation of uncharitableness, if you pronounce that mdn no true follower
o f Him who said, “ As ye would that men would do to you, do ye even so to them.”
There is a sad want of Christianity in business. Professors seem to think their religion
too pure a thing to be brought down into the sphere of business, lest it soil its gar
ments, or be assailed with ridicule. But a man’s religion is not worthy the name, if it
be not able to stand the ordeal o f his business life; if it do not accompany him in his
daily avocations, and lead him to sacrifice his worldly loves and Inst of gain whenever
they would prompt him to forget the good o f his fellow-man while in the ardent pur
suit o f his own interests.
The author of the following we do not know, but it embodies views on this subject
by which men in business, who profess to be governed by Christian principles, would
do well to compare themselves:—
“ Each one is bound to look not only on his own things, but also on the things o f
another. You cannot divest yourself. God has ordained it, and while God is love,
the law is unalterable. In your neighbor you are bound to see a brother whose feel
ings, whose reputation, whose property, whose family, are all as sacred as your own.
‘ Let no man seek his oivn, but every man another’s wealth,’ is a precept weightier
than all the dicta of the exchange. It is highly convenient to evade this precept by
assuring yourself that every man will look to his own interests, and that therefore
you may just gripe all that others will let you gripe. But in doing so, you let your
self down from the level of a Christian to the level of a scrambler. Even amongst
men who meet on equal terms, Commerce on your principle is not a system of mutual
services, but a system of mutual supplanting. But among men who meet on unequal
terms, that principle will bear you out in cruel oppression. A cloth-maker offers to a
cloth merchant a parcel of cloth. His manner, or something else, tells the merchant
that he is under the necessity of finding money. He asks a fair price. According to
the best judgment of the merchant, that price would afford the maker a fair remu
neration, and would afford himself a fair profit; but he knows or guesses that money
650
Mercantile Miscellanies.
happens to be, at that moment, of exorbitant value to his neighbor. On this convic
tion he refuses the fair price, and offers one that would double his own profit, and
leave the other without any profit, or with a loss. The other hesitates, reasons, en
treats— but at last reluctantly yields. The merchants exults in a good bargain. A
good bargain!— is that what you call it ? Why, the thing you have done is neither
more nor less than taking advantage of your neighbor’s necessity to deprive him o f
the just reward of his labor, and to put it in your own pocket.
“ ‘ But I am not bound to look after another man’s interests.’ Yes, you are. God
has bound you to it. He has bound all other men to do the same to you. You have
denied your brother his equal rights. Had you done your duty, two hearts would
have been the better, but now two hearts are worse. Yours is contracting around
its ill-gotten profits ; his is soured and distrustful.”
COMMERCIAL VALUE OF AiV OLD MAN IS CIIINA.
The reasonableness and placability of the natives were, on one occasion, evinced in
rfither a remarkable manner at Chusan, while I was there. An Englishman had
come across some wild ducks in the canal inside the city, at which he fired with ball,
all his shot having been previously expended. The bullet missed the birds, and,
glancing from the water, killed an old Chinaman, who was sitting at his own door,
enjoying his pipe.
_ The unfortunate sportsman, horrified at the result of his silly thoughtlessness, hur
ried away to take counsel with his friends, who recommended him to try to settle the
matter with the relatives of the deceased, to prevent their complaint from being laid
formally before the authorities, who would be obliged to award a heavy punishment
for such reckless carelessness. With this view, one of his friends was dispatched to
visit the family, to condole with them for their loss, and to explain how thoroughly it
was the result of accident. He deplored the unhappy circumstance which had de
prived the family of so valuable and so respectable a member, and pointed out the
cheering fact that he was very old, and, in the natural course of things, could not
have been expected to live much longer, and that pecuniary recompense should be
made to console the family for the few months’ society they might have anticipated
enjoying with him. They admitted that he was old, very old, and as he could not
have lived long, they mentioned a hundred dollars, as a sum likely to have a good
effect in assuaging -the bitterness of their affliction.
The ambassador, delighted at hearing a demand so much more reasonable than he
anticipated, but concealing his satisfaction, pointed out that the deceased was so old
that he could hardly have estimated bis short remnant of existence at such a large
sum.
THE LOVE OF rMONEY.
In the catechism of the Nineteenth Century, says Hiram Fuller, the true answer to
the question, “ What is the chief end of man ?” should be— Money. When oue pauses
to reflect upon this universal scramble after “ the root of all evil,” the money-mania of
the day becomes a sort of miraculous phenomenon. It seems to be the summum bonum of human existence— the ultima thule of human effort. Men work for it, fight
for it, beg for it, steal for it, starve for it, preach for it, lie for it, live for it, and die for
it. And all the while, from the cradle to the grave, nature and God are ever thunder
ing in our ears the solemn question— “ What shall it profit a man to gain the whole
world and lose his own soul 8” This madness fur money is the strongest and lowest
of the passions ; it is the insatiate Moloch of the human heart, before whose remorse
less altar all the finer attributes of humanity are sacrificed. It makes merchandise of
all that is sacred in human affections; and even traffics in the awful solemnities of the
eternal world. Fathers sell their daughters for g o ld ; and temples dedicated to reli
gion are used as marts for the display of the glittering temptation.
Miserly men, in the possession of great wealth, and who pretend to love their chil
dren as the “ apple of their eye,” will stint them in education, in pleasure, and in
health; and keep them cramped and miserable for lack of money, through all the
earlier and better years of their existence; and when Death relaxes the old man’s
grasp from his money-bags, the overwhelming avalanche of wealth becomes often a
curse rather than a blessing to his heirs. Human life at longest is but a span— a
fleeting dream— a passing apparition in the phantasmagoria of Time. What folly to
devote it to an unscrupulous struggle for that “ which perisheth with the using!”
The Book Trade.
65 1
THE BOOK TRADE.
1. — Peruvian Antiquities. By M ar ian o E d w a r d R iv e r o , Director of the Natural
Museum, Lima, and Corresponding Member of various Scientific Societies in Europe
and America; and J ohn J ames V on T schudi, Doctor in Philosophy, Medicine, Sur
gery, etc., etc., and' Member of various Societies of Medicine, Natural History,
Geography, and Agriculture. Translated into English from the original Spanish.
By F ra n cis L. H a w k s , D. D., LL.D. 8vo., pp. 306. New York: George P. Put
nam & Co.
The curious in antiquarian literature is indebted to the learned labors of Dr. Hawks
for “ the best account of Peru by a native, at a date as late as 1851,” and for a more
particular description of its most ancient architectural remains than is to be found
elsewhere. The work is divided into chapters, and treats— 1st, of the relations be
tween the two hemispheres prior to the discovery by Columbus; 2d, ancient inhabi
tants of Peru; 3d, considerations on the history of Peru before the arrival of the
Spaniards ; 4th, system of government, or political institutions of the Incas; 5th, the
Quichuan language; 6th, scientific culture under the dynasty of the Incas; 7lh, relig
ious system o f the Incas; 8th, religious ceremonies; 9th, state of arts among the
ancient Peruvians; 10th, ancient monuments. The original work was the labor of
ten years; and the authors studied ancient monuments, gathering, with great solici
tude, all the curiosities of the times of the Incas, and they have furnished the public
with a full description of the ruins of sumptuous edifices, the sad remains of grandeur
and power of the Incas, their idols and their manufactures; and also of the fall o f a
nation made deeply interesting by its tragical history.
2. — A Manual of Elementary Geology ; or the Ancient Changes of the Earth and
its Inhabitants, as illustrated by Geological Monuments. By Sir C h ar les L y e l l ,
M. A., F. R. S. Reprinted from the fourth and entirely revised edition, illustrated
with Five Hundred Engravings. 8vo., pp. 512. New Y ork : D. Appleton & Co,
No writer on geology has surpassed this able and distinguished author in the merit
of his works. Nor is the reputation of any one higher for attainments in geological
science than that of Sir Charles Lyell. In the work before us, it has been his aim to
unfold and illustrate the ancient changes of the earth, rather than to explain the prin
ciples of geology upon which those changes were made. As a matter of necessity,
the examples or facts upon which principles are based, or which are likewise the re
sult of presupposed principles, necessarily intermingle in a treatise which may attempt
to unfold either separately; yet in this case, the ancient changes of the earth present
so many striking features and give rise to so many interesting points of consideration,
that a wide distinction may be observed between a work upon them and one upon the
principles of geology. The volume, of which this is a new edition, is written with
all that elegance of style and richness of learning for which the author is distin
guished, and forms one of our most valuable productions on the general science of
geology.
3. — On Civil Liberty and Self-Government.
By F rancis L ib b e r , LL. D. 2 vols
12mo., pp. 355 and 371. Philadelphia: Lippincott, Grambo & Co.
This is a treatise upon the fundamental principles of self-government and civil lib
erty, which is designed to serve as a guide for those about entering life, to true and
correct political principles. In the main, the work is sound and judicious, and must
aid in strengthening that independent and free spirit which should be possessed by
every American. The author is a distinguished teacher of political principles, and is
intimately acquainted with events and their bearing upon public affairs. The vol
umes are worthy of a wide circulation, and will command, from the ability with which
they are written, respect in all quarters.
4. — Youths’Manual of Geography, combined with History and Astronomy. Design
ed for the use of the junior and intermediate classes in public and private schools.
By J ames M onteith , Public School No. 18. New Y ork : A. S. Barnes & Co.
"We have not space to describe the various merits of this manual. Suffice it to say,
that the plan is admirably conceived and happily carried out.
652
The B ook Trade .
Philosophy of Sir William Hamilton, Bart., Professor of Logic and Metaphysics
in Edinburgh University. Arranged and edited by 0. W . W ight , Translator o f
Cousin’s “ History of Modern Philosophy” For the use of Schools and Colleges.
Hew York: D. Appleton
Co.
Sir William Hamilton is at once a metaphysian of marked and vigorous originality
o f thought, and a scholar profoundly versed in philosophical theories and the writings
o f metaphysicians. He has not only thought for himself, but he has carefully studied
what others have thought and written— a thing which original minds are sometimes
apt to neglect. But Hamilton’s labors have unfortunately been desultory, consisting
o f reviews, dissertations, and other fragmentary works. Mr. Wright has done a real
service to metaphysical science by giving something like a systematic arrangement to
these detached essays, and by presenting them in their natural sequence and connec
tion of topics, he gives us an idea of Hamilton’s system as a whole. Thus, in the first
of the three parts into which the work is divided, we have the first of the supplemen
tary dissertations to Reid, which, as it discusses the origin of ideas and the foundation
o f knowledge, naturally comes first in every metaphysical system. In part second,
on the philosophy of perception, we have Hamilton’s famous review on Brown,
and the second, third, and fourth supplementary dissertations to Reid. Part third, on
the philosophy of the conditional, contains the review of Cousin. There are no more
interesting chapters of metaphysics, than the two long lists of ancient and modern au
thorities which Hamilton gives— the one on the truth of common sense and intuitive
belief, on the one hand, and the other, on the absolute limitation of human knowledge.
The work is printed with care, and published in Appleton’s usual good style.
6 — A Church Dictionary. By W a l t e r F arqu h ar H ook , D. D., Yicar o f Leeds.
Sixth edition. Revised and adapted to the Protestant Episcopal Church in the
United States of America, by a Presbyter of said Church. 8vo. pp. 580. Philadel
phia : E. H. Butler.
This is the first American from the sixth London edition, and its republication here
was undertaken with special reference to the wants of American Churchmen. The
editor of this edition has modified and amended the work by the introduction of much
new matter, relating to the American branch of the Protestant Episcopal Church in
the United States, especially in those points where that Church canonically, rubrically
and politically differs from the Church of England, of which the author, Dr. Hook, is
a learned and distinguished minister. It is a work displaying great research and
industry, and, in a literary point of view, far above the usual style of similar publi
cations.
V.— The Art Journal for September, 1853. London and New York: George Virtue.
The illustrations in this number fully sustain the high artistic character of this
unrivaled work. But we have so often expressed our almost unqualified opinion of
its excellence, that it would seem a work of supererogation to do more at this time
than merely to give the titles of the engravings, as follows: Utrecht, engraved by E.
Challis, from the picture by G. Jones, R. A., in the Vernon G alley; A Mythological
Battle, engraved by G. Finden, from the picture by F. Stothard, R. A., in the same
gallery; and Virginius, engraved by E. Roffe, from the group in marble, by P.
McDowell, R. A. We are glad to notice by an advertisement, that the Vernon Gal
lery is not exhausted, and that several of the most beautiful of the series have yet to
appear. This work has no rival or equal of its class in the world of art literature.
8. — The Attractions of the World to Come.
B y A lfred B ryant.
12mo., pp. 308.
New York : M. W. Dodd.
Seven chapters or discourses from the contents of this volume. The subjects of
them are— the Immortality of the Soul, the Intermediate State, the Resurrection, the
Day of Judgment, the Nature of Future Happiness, the Nature of Future Punish
ment, &c., c. They are written in a vigorous, forcible style, and will be well re
ceived by the religiously disposed.
9. — The Forged Will; or Crime and Retribution. By E merson B ennett . 12mo,
pp. 302, Philadelphia: T. B. Peterson.
That vice and crime meet with a reward in the degradation o f their victim, none
will deny. But other retribution is often made, such as confounds the culprit and
awakens a sense of remorse. An instance of this nature is presented with much force
and effect in the Forged Will. It is worked up with strong effect.
The Book Trade.
653
10. — The British Poets. 18mo.
Boston: Little, Brown & Co.
W e have before us five volumes of the British poets, viz: “ The Poetical Works of
Alexander Pope, with a Life, by Rev. Alexander Dyce, in three volumes; ” “ The
Poetical Works of Thomas Gray, edited, with a Life, by Rev. John Mitford;” aud
“ The Poetical Works of Oliver Goldsmith, edited, with a Life, by Rev. John Mitford ;” but it is not our purpose to speak (were this the place or were we competent
to the task) critically of these works. Bat of the style in which they are published,
we may speak in terms of unqualified admiration, although to those wno are familiar
with the publications emanating from the above-named house, it may seem a work of
supererogation on our part. The paper and print resemble the best English edition
of the poets; indeed, we are quite sure they are equal if not superior in every respect
to that edition. The present volumes are to be followed by some sixty more, which,
when finished, will afford the best library edition of the British poets extant, and at a
price so low as to place it in the hands of persons of moderate means.
11. — A Record of the Boston Stage. By W il l ia m W ar lan d C la pp , Jr., Editor o f
the “ Boston Evening Gazette.” 18mo., pp. 479. Boston : Jame3 Munroe & Co.
Mr. Clapp, the accomplished editor of the Evening Gazette, one of the oldest, most
respectable, and judiciously conducted journals in the United States, has contrived to
gather, from the most reliable and authentic sources, all the interesting facts relating
to the progress of the drama in Boston, and grouping them in a continuous form, has
presented a most attractive record of the drama in the “ Literary Emporium,” from
the earliest times to the present day. The work is not a mere dry detail of “ facts
and figures,” but is interwoven with anecdotes and reminiscences of celebrated actors
and actresses, together with stirring events connected with the drama in its hours of
“ glory and gloom.” W e regard it as a most valuable contribution to the history o f
the drama in this country, and we heartily thank our esteemed friend the author for
his successful efforts to embody in a form so readable, traditions and materials which
would otherwise have been lost to the friends of the drama in America.
12. — The Hundred Boston Orators appointed by the Municipal and other Public
Bodies from 1770 to 1852; comprising Historical Gleanings, illustrating the Prin
ciples and Progress of our Republican Institutions. By J ames S p e a r L oring .
8vo., pp. 716. Boston: John P. Jewett & Co.
Mr. Loring has, after careful research, pursued with intense devotion during a pe
riod of four years, embodied a great mass of materials in relation to our political and
national history. Commencing with the Boston massacre in 1770, and Thomas Young,
who delivered the first oration in 1771, on that event which Daniel Webster dates as
“ the severance of the British empire,” the author goes on to furnish biographical no
tices of some hundred aud forty names, closing the list of orators with the name of
the Rev. Thomas Star King, the orator of July, 1852. The volume is replete with
historical reminiscences connected with the American revolution, and contains ample
and reliable sketches of the genius and character of the orators of Boston for a period
of eighty years.
13. — The Second TVar with England. By J. F. H e a dle y , author of “ Napoleon and
his Marshals,” “ Washington and his Generals,” ‘‘ The Old Guard,” “ Scott and Jackson,” &c. 2 vols. 12mo., pp. 346 & 328. New Y ork: Charles Scribner.
The present history of the last war with England is perhaps the most comprehen
sive of the many that have been written. The author has combined, in proper pro
portions, the different topics connected with that war. His aim has been to give im
pressions as well as facts— to trace the current and depict the phases of public
feeling— and he narrates the facts in a simple, unostentatious manner; while at the
same time its pages abound with graphic and eloquent descriptions of the marked
events of the time.
14. — The Rose Bud: A Love Gift for Young Hearts for 1854. Edited by Mrs. C. A.
S oule . 18mo. pp. 166. Boston: A. Tompkins <fc B. B. Mussey.
It affords us great pleasure to speak in terms ol high commendation of this beauti
ful but unpretending gift book. It contains some twenty original pieces “ in prose
and verse” from some of the best names in literature, and is not simply au infant’s
pastime, but an intellectual recreation for old and young— a book which parent and
child can enjoy together. The engravings, four in number, are in the best style of the
art, and the letter-press illustrations are not surpassed by any of the annuals of the
day.
054
The Book Trade.
15.— Memoir of the Life and Character of the Right Hon. Edmhnd Burke, with speci
mens of his Poetry and Letters and an estimate of his Genius and Talents compared
with those of his great cotemporaries. By J ames P r io r . 2 vols., 18mo., pp. 976.
Boston: Ticknor, Reed & Fields.
To an attentive reader of the political and literary history of England during the
last half of the eighteenth century, no name will more frequently attract the attention,
whether we consider the large space he occupied in the public eye, the original genius
he possessed, the diversified talents he displayed, the great events with which his life
was connected, and the alternate eulogy and abuse by which his reputation has been
assailed, than that of Edmund Burke. The present edition of Prior’s life of the great
British statesman and scholar has been revised and greatly enlarged, and its repro
duction in this country, in a style so worthy of the enduring reputation o f the man,
will be appreciated by every American statesman and scholar.
16.— Venice, the City of the Sea,from the Invasion of Napoleon in 1797, to the Ca501. New York: Charles Scribner.
These volumes present us with a comprehensive view of Venice as she once was
and as she now is, together with a sketch of her invasion by Napoleon and her fall in
1797, after a flourishing existence of fourteen centuries. They are written with great
research. Almost everything of importance has been collected, that can throw light
upon this interesting city at this brilliant period of her existence. The author has
unhesitatingly gathered his facts from all quarters, for which due acknowledgements
are made, and he has presented us with two entertaining volumes.
17. — Six Months in Italy. By Geo. Stillman Hillard. 2 vols., 12 mo., pp. 432 and
455. Boston: Ticknor, Reed <St Fields.
Italy, in the eyes of this accomplished writer, still glows with the charms for which
she has been so long famous. So delightful are his journeys that we go over the same
ground which former travellers have visited with new and increased gratification.
Numerous as have been the works written of Italy, yet this one is as fresh as if it had
been without a predecessor. The author observes everything worth a notice, and his
observations are so judicious, his reflections so natural and truthful, and his style so
cultivated and finished, that everything is said with a pleasing gracefulness. We
welcome these two volumes as among the most choice of the kind recently from the
press.
— Henri; or, The Web and Woof of Life. By Wit. G. C am b r ido e . 12mo., pp. 432.
Boston: Abel Tompkins.
Beneath “ the veil of fiction” the author has contrived to embody some ideas of a
reformatory character, which will, as he anticipates, be considered by some unpopular
and by others regarded as utopian, or at least in advance of the age. Without ac
cepting all the views of the writer, we are free to say, his work contains much that
will commend it to every free-thinking, progressive mind, and as a literary perform
ance it will bear the test of severe criticism. Mr. Cambridge cares “ more for the
good that might be wrought than for the approving smiles of those who ever walk
with their backs to the sun and their faces to the past.”
18.
19. — “All's not Gold that Glitters:” or the Young Californian. By C ocsin A lic e .
Author of “ No such Word as Fail,” “ Contentment better than Wealth,” etc. 18mo.
pp. 208. New York: D. Appleton & Co.
Another of Mrs. Neal’s agreeable and instructive tales, designed for American boys
who, more than those growing up in any other country, are thinking of money getting
before they are fairly out of school. The lessons shadowed forth in tnis story are that
the possession of gold is not happiness, and that all fair promises are not to be trusted.
Money per se is not, however, the root of all evil, but the inordinate love of it.
20. _Essays upon Summer Hours. By
C h arles L axm an , author of “ A Summer in
the Wilderness,” “ A Tour in the Saguenay,” “ Letters from the Alleghany Mount
ains,” “ Records of a Tourist,” the “ Private Life of Daniel Webster,” <fcc. New
York . M. W. Dodd.
This volume contains some very pleasant and agreeable sketches and essays, and
is written in a lively piquant style.
The Book Trade.
655
21. — History of the Navy of the United States of America. By J. Fennimore Cooper.
Continued to 1853. From the author’s manuscripts and other authentic sources.
Three volumes in one. 8vo. pp. 624. New Y ork : George P. Putnam & Co.
Mr. Cooper, in the preface to his last edition of this work published in 1846, very
justly remarks, that the services of the Navy of the United States, from the hour when
it was first called into existence, during the arduous struggles of a most important
revolution, down to the present moment, have been material and brilliant, and he is
but an equivocal friend who shall attempt to conceal its real exploits behind the veil
of flattery. The last volume, which brings the history down to 1853, is from the
manuscripts of the author and other authentic sources. It is unquestionably the most
faithful, impartial and reliable history of our Navy that has ever Ijeen written.
22. — Salad for the Solitary: by an Epicure. New Y ork : Lamport, Blakeman &
Law.
This is one of the most enticing and fascinating volumes we have ever encountered.
It is a work sui generis—quaint, poetic, anecdotical, and eminently amusing and in
structive. It is graceful and elegant in style, piquant and pithy, abounding in curious
and out-of-the-way facts relating to literary and historical curiosities, and singularly
fresh, vigorous and terse in the mode of its construction. As a book for leisure halfhours, we know of nothing to compare with it for attractive interest and value. We
commend it heartily to those who can appreciate a really genuine book—-one that is
replete with “ pith, point and pathos.” We observe the third thousand is announced
within the first week of its publication, a pretty substantial proof of its popularity.
28.— A History of England. By J ohn L in gar d , D. D. Yol. 3 , 12mo., pp. 359. Boston :
Phillips, Sampson & Co.
The volume before us, the third of the series, commences with the accession of
John in 1199, and closes with the reign, deposition and murder of Edward near the
openiog of the fourteenth century. This edition follows exactly the London of 1849.
The numerous changes by Dr. Lingard make it, in three parts, a completely new
work. This reprint has been made under the oversight of a careful editor, who has
corrected some misprints which had escaped the attention of the editor abroad. In a
few instances the American editor has added notes, which seemed to interlard the
text, but with these exceptions, no alterations whatever have been made from the
English edition.
24. — (}od with Men: or, Footprints of Providential Leaders. By Samuel Osgood, au
thor of “ Studies in Christian Biography,” &c. 12mo., pp. 269. Boston: Crosby,
Nichols <fc Co.
The papers which compose the present volume were written for the purpose o f set
ting forth in practical form the course of “ Divine Revelation,” through the representa
tive characters of the Old and New Testaments. Without cumbering his pages with
philological discussions in scholastic theorizing, Mr. Osgood states, in a clear and lucid
style, the results o f his studies of biblical literature and church history. The author
aims to give, the moral rather than the mythical of those parts of Scripture where it is
difficult to distinguish between what is historical and what is mythical.
— Arbell: a Tale for Young People. By J ane W in n ard H a r p e r . With illus
trations by James Godwin. 18mo., pp. 310. New Y ork: Charles S. Francis
& Co.
A very interesting and well written story for young people ; unexceptionable in its
moral tone and tendency. It is published in the neat and attractive style which
characterizes the works of these popular publishers of juvenile works.
25.
26. _Tangle-Wood Tales for Girls and Boys. Being a second wonder-book.
By
N athaniel H a w th or n e . With fine illustrations. 12mo., pp. 336. Boston ; Ticknor, Reed & Fields.
Hawthorne’s talent is well displayed in these agreeable tales, which are both enter
taining and instructive. They form a charming book for young people, and one which
they will prize highly.
21.— Philip in Search of a Wife.
delphia : T. B. Peterson.
By a Gentleman Butterfly.
4to, pp. 30.
Phila
656
The Book Trade.
28. — A Guide to English Composition ; or, One Hundred and Twenty Subjects A n a
lyzed, and Illustrated from Analogy and the Writings of Celebrated Ancient and
Modern Authors, to Teach the Art of Argumentation and the Development of
Thought. By the Rev. Dr. B r e w e r , Trinity Hall, Cambridge, author of “ A Guide
to Scientific Knowledge of Things Familiar.” 18mo., pp. 415. New York: C. S.
Francis.
This valuable manual is divided into four parts, and contains two hundred themes,
more or less developed. It has been carefully revised and adapted, by the American
editor, for the use of schools in the United States. It seems to be a work well calcu
lated for giving men who are desirous of acquiring facility in speaking in public, or
expressing their thoughts on paper systematically, and at the same time vigorously.
29. — Rudiments of Public Speaking and Debate: or Hints on the Application of
Logic. By G. J. H o lyo ak e . From the Second London Edition. 12mo., pp. 129.
New York: McElrath <fc Barker.
The information attempted in this volume is essentially practical. An effort is made
to engraft the learning of life upon the learning of schools, the literature of the streets
and o f trade, the logic of the newspaper and the platform, and the rhetoric of daily
conversation, in order that the reader may acquire a public as well as a scholastic spirit.
The work is divided into three parts, the first of which treats of the rudiments of
rhetoric; the second, of th se topics of knowledge which the student acquires by ob
servation ; and third, of the application of his attainments. It is essentially a practi
cal treatise.
80.— The Captive in Patagonia: or Life A m o n g the Giants. A personal narrative.
By B eng . F ra n k lin B ourne . With illustrations. 12mo., pp. 233. Boston : Gould
&, Lincoln.
Little is known of these huge savages who inhabit the extremity of South America.
They are represented as more wild and inhospitable than the bleak and desolate region
which they inhabit. In these pages we have the details of the experience of a bold
and courageous man, who was taken captive upon their shores and detained until
chance afforded an opportunity for his escape. The volume, although making no pre
tensions of a literary kind, will be read with much interest for the pictures of Pata
gonian life which it presents.
31. — Autobiographical Sketches. By T homas D e Q uincey . 18mo., p p . 380. Bos
ton : Ticknor, Reed & Fields.
This volume embraces an autobiography of one of the most extraordinary literary
men of England, and to those who are familiar with De Quinceys’s writings, scattered
through several British journals twenty or thirty years ago, and now reprinted in a
collective form in some dozen volume?, the present work will be a most acceptable
offering. It affords one of the most interesting descriptions of the hopes, fears, trials,
and triumphs of literary life, that has ever been written.
32. — Woodworth's American Miscellany of Entertaining Knowledge. By F rancis
W o od w o r th . With Illustrations. 12mo., pp. 288.
Boston: Phillips, Sampson &
Co.
These pleasant and agreeable pieces which form the contents of this volume, are
attractive both by the information they afford, and the style in which they are written.
In the family circle the volume will find many readers and become exceedingly pop
ular. It is free from every objectionable feature, yet full of entertainment for young
readers.
33. — The Story of Movnt Blanc. By A lbert S m ith . 12mo., pp. 212. New York:
G. P. Putnam.
Under this title the author of this work presents a very interesting sketch of the
various attempts made to reach the summit of Mount Blanc.
He also gives us a
graphic description of his own successful ascent to that lofty peak of the Alps. Abun
dant practical directions are also presented for those who intend to follow iu his foot
steps.
34. — Chambers' Repository of Instructive and Amusing Papers. With illustrations.
Yol. 1 complete in itself. 12mo., pp. 250. Boston: Gould & Lincoln.
These pages contain an excellent selection of pieces suitable for innocent entertain
ment, mingled with correct information and sound instruction. They are marked by
good taste, and free from all controversial matter.
@FedFRASER