Full text of The Merchants' Magazine and Commercial Review : October 1846, Vol. XV, No. IV

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I

,

THE

M ERCH ANTS’ MAGAZINE,
E s ta b lis h e d J u l y , I S 39,

BY FREEMAN HUNT, EDITOR AND PROPRIETOR.

VOLUME XV.

OCTOBER,

1846.

NUMBER IV.

C O N T EN T S OF NO. IV., ^VOL. XV.
A R T IC L E S .
ART.

PAGE

I. CHAPTERS FROM THE EXPERIENCES OF A MERCHANT; No. I . : Business Facili
ties of London and New York contrasted. By G e o r o e G o rd on , F . S . S ., late of London, now
of New York,...................................................... ; .......................................................................... 339
II. COMMERCE OF THE GREAT WESTERN LAKES,............................................................ 348
in. NEW YORK AND ERIE RAILROAD. By V. M. D r a k e , of New Jersey,......................... 359
IV. THE CLAIMS FOR FRENCH SPOLIATIONS: President Polk’s Veto upon the Bill of In­
demnity for French Spoliations. By H e n r y G . R ic e , of Massachusetts,................................. 366
V. MANUFACTURING INDUSTRY OF THE STATE OF NEW YORK; No. I.: Manu­
factures of Dutchess County—Mutteawan—Glenham—Rocky Glenn—Highland Mills, etc. By
L o r e n z o N e e l e y , of New York,................................................................................................ 369
VI. PROFITS OF MANUFACTURING AND COTTON-GROWING COMPARED. By C a l ­
v in C o l t o n , Author o f the Life and Times o f Henry C la y ,....;............................................ 376
VII. TH E EDUCATION OF A MAN OF BUSINESS,..................................................................... 381

MERCANTILE

LAW

CASES.

Promissory Notes—High Court of Error and Appeals, State of Mississippi,........................................... 384

COMMERCI AL CHRONI CLE AND REVI EW, ■
EMBRACING A FINANCIAL AND COMMERCIAL REVIEW OF THE UNITED STATES, ETC., ILLUSTRATED
W IT H TABLES, ETC., AS FOLLOWS :

The Crop Season—Review of Foreign and Home Markets—Consumption of Produce—Cotton Crop—
Speculations of Vincent Nolle—Arrival of Flour and Wheat at Tide-water—Price of Flour in New
York—Export of Bread-stuffs from the Port of New York in 1845 and 1846—Mexican War—Con­
dition of New York Banks—Imports and Duties—Cotton Statistics of the United States for 1845 and
1846—Exports, Receipts, Stocks, etc., of Cotton, for all the Ports of the United States, 1845-1846,
and 1844-1845—Sales of Cotton in New York—Prices—Freight—Exchange—Import of Cotton into
New York—State of Trade in Great Britain—Imports into the United Kingdom of Food and Raw
Materials, from January 5 th to July 5th, in 1845 and 1846—Leading Features of the Bank of Eng­
land—Quotations of Wheat and Flour in Foreign Markets at the latest dates,.................................... 389
VOL. XV.---- NO. IV.




22

CONTENTS OF NO. IV ., VOL. XV.
PA G *

COMMERCIAL REGULATI ONS.
Drawback on Merchandise imported into the United States from the British North American Prov­
inces—Treasury Circular.................................................................................................................. 388-399
Treasury Circular on the Warehousing System,........................................................................................ 400
Act of Congress exempting Coffee imported into the United States from the Netherlands, from Duty, in
certain cases, etc.—The Oregon Treaty between the United States and Great Britain,..................... 402
New Tariff of the Papal States,................................................................................................................. 493

COMMERCIAL STATISTICS.
Trade and Commerce of New Orleans, in 1845, compared with previous years,.....................................
Cotton, Exports of from New Orleans, in each year, from 1840, to 1846..................................................
Tobacco, Exports of from New Orleans, in each year, from 1840 to 1846,...............................................
Sugar, Exports of from New Orleans, for three years, ending 31st August, 1846,....................................
Cotton, Comparative Arrivals, Exports, and Stocks of Cotton and Tobacco at New Orleans, for ten
years, from 1836 to 1846,...........................................................................................................................
Molasses, Exports of from New Orleans, in each year, from 1843 to 1846,..............................................
Exports of Flour, Pork, Bacon, Lard, Beef, Lead, Whiskey, and Com, for the last three years,...........
Imports of Produce, etc., from the Interior, into New Orleans, for the last six years,.............................
Value of the Principal Articles of Produce received at New Orleans from the Interior, in 1846,...........
Navigation of New Orleans in 1845 and 1846, and 1844 and 1845,...........................................................
Cotton, Prices of, at New Orleans, on the first of each month, during a period of five years,...............
Prices of Sugar at New Orleans, on the first of each month, for five years,.............................................
Prices of Molasses nt New Orleans, on the first of each month, for five years,........................................
Prices of Flour at New Orleans, on the first of each month, for five years,.............................................
Prices of Pork at New Orleans, on the first of each month, for two years,...............................................
Prices of Corn at New Orleans, on the first of each month, for five years,...............................................
Imports of Cured Provisions into the United Kingdom,............................................................................
Baltimore Flour Inspections in each year, from 1840 to 1846,...................................................................
Progress of the British Commercial Marine during the last forty-five years,...........................................
Louisiana Dry Dock at New Orleans, Rates of Docking, etc.,..................................................................

404
404
405
405
40(3
406
406
407
408
409
410
410
410
411
411
411
411
412
413
413

R A I L R O A D , C A N A L , AND S T E A M B O A T S T A T I S T I C S .
Railroad and Steamboat Route from New York to Boston, via Long Island,.......................................... 414
Statistics of all the Canals of New York,................................................................................................... 415

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 ,
To Paper-makers, Letter to the Editor, from Augusta, Georgia,...............................................................
Progress of Invention in the United States,................................................................................................
Axomatique Vegetable Distillations,...........................................................................................................
Cotton Factory in Florida,...........................................................................................................................
Increased Demand for Diamond Dust...........................................................................................................
Manufacture of Pressed Glass Tumblers—Whip Manufactory at Camden, New Jersey,........................

416
417
417
417
418
418

J O U R N A L OF B A N K I N G , C U R R E N C Y A N D F I N A N C E .
Debts of the State of New York,................................................................................................................ 419
Foreign Banking E stablishm entsSt. Petersburgh—Imperial Loan Bank—Assignation Bank—Com­
mercial Bank.—Warsaw, Capital of Poland:—Bank of Warsaw.—Hamburgh :—the Bank of Ham­
burgh—Transfer Deposit Bank—Loan Bank.—Leipsic, in the Kingdom of Saxony :—Discount Bank
or Leipsic.—Genoa the Bank of Genoa—Stockholm Bank.—Brussels, Bank of.—Bordeaux, Capi­
tal of the Department of the Gironde -.—Bank of Bordeaux.—Paris :—Bank of France—Discount
Bank at Paris,................................................................................................................................ 319 to 321
British American Land Company, Finance of,........................................................................................... 301
Bank of England, Weekly Returns of, from July 25th to Aug. 15th—British Post-office Return for 1846, 422

MERCANTILE MISCELLANIES.
Rules for Getting Rich : or Hints for Merchants and Business Men,........................................................
Illustrations of Life Insurance—Wealthy Men of Boston,........................................................................
Legislation respecting the Law of Debtor and Creditor—Frauds in the Hardware Trade,....................
Boston Mercantile Library Lectures,...........................................................................................................
Production of Pea-nuts in North Carolina—Pennies converted to Pounds,............................................
Consumption of Coffee in Belgium and France—Duty on Copper in Prussia,..........................................

453
424
425
426
426
426

T HE BOOK T R A D E .
Notices of twenty-nine New Works, or New Editions,.................................................................. 427 to 432




HUNT ’ S

M E R C H A N T S ’ MAGAZ I NE.
i

O CTOBER,

1846.

Art. I.— CHAPTERS FROM THE EXPERIENCES OF A MERCHANT.
NUMBER I.

T H E BUSINESS F A C IL IT IE S OF LO N D O N AND NEW YORK CO NTRASTED.

I n these two mighty emporiums of commerce— the one the heart of the
monetary and mercantile operations of the empire of G reat Britain,
the other equally the centre of the same operations in the w estern world—
the modes of business and the facilities of commerce are widely different.
In London we find more of the dignity and stability of trade ; in New
York, more of the bustle and turm oil; there is less excitement, and more
weight, in the same mercantile movement in the former than in the latter.
T he calculations of business appear to be made with more calm reflection;
impulsive action upon crude, undigested thought, is more avoided; sudden
and large profits are less eagerly grasped at, and future, substantial, moderate gains have the more decided preference in the metropolis of E uro­
pean business than in the chief city of the w estern continent.
My object in this chapter is principally to contrast the business facilities
of London and N ew York, not, by any means, for the sake of making invidious comparisons, or disparaging either place by contrast with the other,
but simply as a m atter of calm and interesting inquiry, from which, perhaps, some instruction may be gained ; or, at all events, from the perusal
of which amusement and interest may result. O f course, in a vast num­
b er of points, no comparison at all can be instituted ; the extremely dis­
similar position of each in regard to age, extent, wealth, and resources,
must draw a striking line of demarcation between them, though probably,
as years roll on, they will more closely assimilate. T he fast gathering
w ealth and resources of N ew York will, in time, approximate to those of
London. Capital here yields a larger interest, and of course is more pro­
ductive and accumulative than capital in England. T he unparalleled ex­
tent of country tributary to the commercial and monetary resources of New
York, with its just born but giant enterprise, its boundless natural wealth,




340

Chapters from the Experiences o f a Merchant.

and rapidly increasing population, will cause this city to tread fast upon the
skirts of the great metropolis. Gradually, with the increase of wealth
and the expansion of productive power, will come that dignity, and calm,
reflective, weighty influence which accompanies the footsteps of commerce
there. Increasing solidity will accompany increasing resources. T he
feverish impulse and spasmodic graspings which mark American com­
merce, instead of being thought “ smart,” will be reprobated as danger­
ous ; and constancy to one pursuit, calmness and thoughtfulness in com­
mercial operations, and moderation in the accumulation of wealth, will not
only be theoretically approved, but will be indispensable to success in bu­
siness, a sine qua non in the attaining and maintaining the confidence of
the commercial world.
By “ facilities for business,” I mean those usages, customs, and re ­
sources, which enable the merchant to transact the largest amount of bu­
siness to the best advantage, and with the smallest amount of capital and
labor.
In London there is a larger amount of accumulated capital waiting for
temporary employment than in any other place in the world. T he enor­
mous sums constantly lying in the Bank of England, and the large depos­
its held by private bankers, on customers’ accounts, and on account of
country banks and colonial and foreign capitalists, are constantly at the
service of those having adequate security to offer, and requiring amounts
for limited periods. T he system universally prevailing in London, of set­
tling the largest payments, and, in fact, all the ordinary operations of bu­
siness, by checks, causes those vast monetary transfers to be made without
the employment of circulating medium at all, except for retail purposes.
A merchant has £50,000 worth of goods to sell, which he disposes of
through his broker, to probably one hundred purchasers. Each purchaser
pays his broker in a check on his banker ; the broker, at four o’clock,
pays in the whole of these checks to his banker, and hands the m erchant
a check for the entire amount, who, in his turn, pays it in to his banker'
T he bankers, every day at four o’clock, meet at the “ clearing house,” and
exchange checks, settling up matters amongst themselves. Thus the re­
ceipt and payment of £50,000 three times over, is arranged without the
employment of circulating medium at all.
H ere we may remark, en passant, on one of the business facilities this
method of payment affords. A broker or wholesale dealer, through the
week, has bought or sold a parcel of goods to the amount of £20,000, for
payment on Saturday following, which is a common mode of arranging
cash transactions. T he broker has to pay £20,000, receive delivery or­
ders for the-goods, hand those delivery orders over to perhaps a dozen cus­
tomers, and receive from them the amount in payment. But probably the
broker has not more than £2,000 balance at his banker’s ; how is be then
to pay £20,000 to obtain the orders for the goods, so that he, in his turn,
m ay receive payment? H e gives his check, crossed to the banker with
whom his m erchant keeps his account; which he knows will not be col­
lected until four o’clock on the same day. In the mean time, he delivers
orders to his purchasers for the goods, receives their checks, pays them in
with his other receipts, at four o’clock, to his banker, who carries them to
his credit, so that his own check is, of course, amply covered, and his ac­
count stands square. H ad this fa c ility not existed, the broker could not
have made the transfers without a sum equal to £20,000, in his possession.




Business Facilities o f London and New York Contrasted.

341

By giving his check “ crossed ” for the amount, he knows that it cannot
go in to his banker’s except through the banker of the person he pays it
to, and therefore will not be presented for payment until after four o’clock
of the same day. In the mean time, as we have seen, he gathers in his
receipts from his customers, and they go in to his banker’s during the day,
in their turn to be collected and arranged by the collecting clerks of the
various banks meeting at the clearing house at half-past four. Thus the
broker obtains, for one day, the use of £20,000.
Again, the mode of paying all sums by crossed checks, has the advan­
tage of quickness, correctness, and security; quickness, because a check
is more rapidly given than the same quantity of money would be counted
o u t; correctness, because the clerk records and verifies any error in amount
that may have been paid, avoids the risk of mistakes in counting money, and
the check acts at once as a receipt and a perpetual record for the paym ent;
security, because a crossed check is useless to any one except the m erchant
to whom it is payable through the hanker to whom it is crossed. Thus, for
instance, Thompson & Co. have twenty or thirty sums to pay to as many
persons ; they give checks for each amount on their bankers, Glyn, H ali­
fax, Mills & Co., and across the face of each check they draw two lines,
between which they write the name of the banker with whom the house
they owe it to keeps its account, if they know i t ; if not, they simply
write “ & Co.,” leaving their clerk to fill up the name when he pays it
away. Supposing this clerk to go out with these checks and lose them, or
to be fraudulently disposed, and wishful to abscond with so large an
am ount; in either case the checks are useless, as the bankers on whom
they are drawn, will only pay them when presented by the banker to whom
they are crossed ; and that banker will carry the money only to the credit
of the party to whom the check is payable, and who, of course, is their cus­
tomer. Thus, a clerk may have £100,000 of crossed checks, absolutely
valueless, except to the person to whom they are payable ; valueless, even
to that person, except when paid into and presented by his hanker, so that
the security is complete.
W hen I was first in business in London, I was accustomed to pay in
specie or bank notes, and to collect accounts in the same currency. W hen
the amounts were very large, I was uneasy until the paying or collecting
clerk came in, lest the temptation of possessing so much available money
should be too much for his honesty, and induce him to abscond. F re ­
quently I was in the habit of calling for large sums personally, rather than
trust a clerk, which, of course, prqfitlessly occupied my own more valuable
time. But of late years, from the admirable system of paying in “ crossed
checks,” I could send the humblest clerk I had, to pay and receive thou­
sands of pounds, without the slightest fear ; the moneys he paid being only
available to my clients and their bankers ; the moneys he received, being
only available to me through my bankers.
One wintry day in London, a clerk had been out collecting money, and,
in returning to the counting-house, fell upon a piece of slippery pavement.
H is pocket-book flew out, and was instantly picked up and conveyed away
by some of the dexterous thieves always prowling about that metropolis.
It contained eight checks crossed to my bankers, and payable to me or
bearer, amounting, in the aggregate, to £12,500 sterling. The poor fel­
low came home in sad aftiight. I was not, however, in the least alarmed,
for I was aw are that nothing could be made of them. I found that they




342

Chapters from the Experiences o f a Merchant.

had fallen into most expert hands. T he low Jew s of Houndsditch and Pet­
ticoat lane had them offered, but they could do nothing with them ; they
knew the several bankers on whom they were drawn would not pay them
unless they were presented by my bankers, to whom they were crossed.
If-they had handed them in to my bankers for presentation, they would, of
course, have passed them to my credit, and, probably, apprehended the per­
son holding them. In the case of one check, a man presented it for pay­
ment to Messrs. Jones, Lloyd & Co., on whom it was drawn, represent­
ing himself to come from my bankers ; but all he took by his movement
was a narrow escape from be4ng taken himself, and the loss of the check,
which Jones, Lloyd & Co. retained, and sent to the bankers.
> In three days, all the checks were offered to be restored for twenty
pounds, finally for twenty shillings, which I refused to give, when they
w ere all restored per post, except the one attempted to be cashed at Jones,
Lloyd & Co.’s.
Merchants in London will frequently take their check books and sign
twenty or thirty blank checks, draw two lines across them all, and leave
them out for their clerks to fill up with the proper amounts, and pay away
during their absence. Frequently large amounts are collected and paid
away by clerks in whom they place no particular confidence, without their
supervision, simply because the checks passing through those clerks’ hands,
are of no possible use to them, and cannot be misconverted. But those
merchants would as soon think of flying as of trusting to those same clerks,
in such a manner, either specie, notes, or uncrossed checks, which might
be presented by any one at the bank counter. In many houses turning
over a million sterling per annum, there is never more available currency
seen by the clerics, than five or ten pounds of petty cash ; in fact, there is
seldom more than that sum about the office. Many merchants and bro­
kers instruct their clerks to refuse to take any payment except “ crossed
checks” from town houses, such is their conviction of the security, facility,
and exactness, this system imparts to their business.
Such a system, it will be said, causes some risk in taking checks from
parties w'ho have no funds to meet them. In my experience, I have only
known one or two cases of a check being given without adequate funds to
meet i t ; such a thing is regarded as the death-blow' of a m an’s credit. Of
course his checks are ever after declined, and the majority of houses will
refuse to transact business with him at all, even for cash. Thus it rarely
happens that a dishonored check occurs. At times a person cannot pay
when called upon; but, in this case, he gives a check for part, and ar­
ranges for the rest. H e never attempts to overdraw his account with his
banker. I f he has security to offer, money is always procurable ; but the
London bankers never permit “ overdraws” of their customers’ accounts.
T heir customers, therefore, never attempt to give checks beyond their
balances.
It is astonishing the relief w'hich this system of payment affords to the
merchant. It enables him safely to trust so very much more to clerks
with confidence than he could otherwise do. It enables him to dispense
with money-counting and keeping, and devolves the risk and responsibility
of that upon his banker. It, of course, leaves his mind and time more
free to guide and reflect upon the leading and weighty operations of his
business, by pushing a troublesome but indispensable portion of detail,




Business Facilities o f London and New York Contrasted.

343

with safety, upon subordinates, who, having nothing else to attend to, per­
fo rm it more efficiently than he him self could do.
Again, in combination with monetary advantages, the w a r e h o u s i n g
s y s t e m of London offers singular facilities for the safe extension of busi­
ness to a large amount, with comparatively little labor, and the employ­
ment of a much smaller capital than the same amount of business would
require anywhere else.
In the vast warehouses of that great metropolis, belonging to various
wealthy companies, and covering acres upon acres of ground, surrounding
the numerous docks, and lining the crowded Tham es on both sides, are
stored the products and interchange of every clime. T he wines of the
sunny, vine-growing regions of Europe and Africa, the silks and cottons
of Europe, India, and America, the sugars, coffees, and spices of tropical
regions, the vast imports from China, the multitude of American articles
of merchandise, and portions of all that earth has of luxury, food, or cloth­
ing, are stored in ample vaults and warehouses, rendered nearly fire-proof
in their structure, and into which fire or candle is not allowed to enter, ex­
cept under severe regulations.
Into these warehouses, (the proprietors of which give bond to the Crown
for the customs-duty chargeable on the goods warehoused,) are sent the
products of every clime— the property of thousands of different merchants.
W hen these goods are required for use, and to be removed from the w are­
house, then the duties are paid to the crown. They may, however, lay
ten or twenty years, or longer, without payment being required. They
are always ready for export, without the trouble of obtaining drawback,
if they are not required for home use. Such goods are frequently sold
from hand to hand, many times over, without any payment of duties, &c.,
which, of course, is a simpler mode of doing business, and one requiring
less capital than if the crown dues had been paid on arrival, and the goods
removed to the private warehouses of the proprietors.
The companies to whom these bonded and storage warehouses belong,
are responsible for the safety of the goods themselves. T heir officers, and
the officers of the crown also, weigh or guage, tare and mark these goods,
divide them into convenient portions, and having stored them in their sepa­
rate apartments, they send to each owner “ a w a r r a n t o r w a r r a n t s ”
for his portion. Thus, on the landing of a cargo of tea from China, it is
stored in the tea warehouse of some of the dock companies. T he dock
and crown officers jointly weigh and tare it, as landed, marking each pack­
age with the name of the ship in which it was imported, the gross weight,
and the tare, together with a consecutive number, commencing at 1, for
each ship, and going up to the highest number of chests. T he chops of tea
are each sorted out and placed by themselves, Congous, Souchong, Pekoes,
Hysons, Gunpowders, & c., and a definite place in the warehouse assigned
them. W arrants are then issued for every six chests of tea. These w ar­
rants specify upon the face of them, for instance, that the London Dock
Company hold six chests of tea, entered as Souchong, imported by Baring,
Brothers & Co., in the Alexander Baring, Captain Jones, from Macao,
July 1st, 1844, marked B. B. & Co., number 200-205, each one weigh­
ing so much gross, taring so much, leaving so much nett weight. These
teas the dock company engage to deliver to the holder of that warrant
properly endorsed, upon demand.
From this system very great facilities are afforded:




344

Chapters from the Experiences o f a Merchant.

1st. The merchant is not required to have large storehouses, attendants,
servants, &c., with all the care and expense these entail.
2d. H e holds his goods by these paper warrants as securely, and much
more portably than if he had them in his own warehouse, where they
would be liable to loss and pillage.
3d. There is no trouble or dispute about weighing or taring. These
are done by official authorities, whose accuracy or honesty is never
questioned, being disinterested parties. Consequently, all buying or sell­
ing is made on the basis of these official weights, for inaccuracy in which
the dock companies are responsible.
4th. Not only does he avoid the care, expense, and trouble of warehous­
ing, servants, and weighing, but he finds the transfer of these goods made
with very great ease. I f he sells a lot of tea, or a thousand lots, in­
stead of having them actually carted from his warehouse to the purchaser’s,
he simply hands him the “ warrants,” and the bearer of the warrants be­
comes the possessor of the goods without further trouble. Probably these
goods are sold a dozen times over during a season, before finally required
for removal. Instead of the waste, trouble, and great expense of carting
and recarting those goods a dozen times, the “ w arrants” are simply hand­
ed from hand to hand, the goods actually remaining in statu quo, in their
original place of deposit.
I know many very large importing merchants who could take a visiter
for miles, almost, of warehouse room, between high lanes and passages
made with the piles of their own imports, who have a small, quiet, back
parlor, at fifty pounds per annum, for an office, and a single staid, elderly
clerk, with one or two young men as custom-house or out-door clerks, to
transact the whole of their immense business. T heir brokers will make
sales to the extent of £50,000 for them in a day, and all the bustle per­
ceivable, is one quiet clerk calling and taking aw ay a bundle of warrants,
for the various goods, and some following day calling again and leaving a
crossed check for the amount, with his “ account sales.” T here are two
brothers in London, who are amongst the largest importing merchants from
China, who absolutely have neither office nor clerk in town. They them­
selves reside some miles in the country, and usually come in every day for
an hour or two, visit their various brokers, stroll down to the dock w are­
houses to look at their imports, sign a check or two, or a bundle of w ar­
rants for their brokers’ use, and home again. An E ast India merchant
who arrived in London by the overland mail, expressly to see the large
importers, Messrs. J .& F . ------, was surprised to find they had neither count­
ing-house nor clerk, and that their names even were not in the directory !
But, 5th. T he great advantage afforded by the warehousing system of
London, is the extraordinary facility it gives for obtaining advances upon
imports, goods and stocks, a facility which enables the merchant, commis­
sion agent, wholesale and retail dealer, &c., to transact their business with
a much less amount of capital than would be required without this mode ;
prevents those awful sacrifices of goods, which are so prevalent in N ew
York, to obtain money to meet pressing engagements, during times of
pressure ; and enables the merchant, &c., at all times to keep his stock,
his dead stock, in a form as readily available for obtaining loans or ad­
vances as though it were bills of exchange instead of bales of cloth, or
hogsheads of sugar.
Take, for instance, a commission merchant in London, and one in N ew




Business Facilities o f London and New York Contrasted.

345

York. From N ew York, a consignment of $100,000 worth of flour is
made to London, against which the skipper draws on his agent, at sixty or
ninety days after sight, for $60,000, with the bills of lading. T he mer­
chant in New York has a consignment of calico, &c., to the amount of
£20,000, from Manchester, against which the skipper draws at equal
dates, to the extent of £14,000.
In these two cases, it is generally expected that the goods will be par­
tially or entirely converted into funds before the accepted bills become
payable. But suppose the market at both ends to be seized with a tempo­
rary dulness; some pecuniary spasm, perhaps, has tightened for a few
weeks the purse-strings of capital; a momentary panic or depression has
come upon the money w orld; such things will and do frequently occur, and
sales of produce cannot be forced except at ruinously low prices, involving,
perhaps, a 20 or 30 per cent loss.
In this dilemma, the London merchant is comparatively calm and con­
fident ; he views the approach of his drafts to maturity without alarm, b e­
cause he knows that, by the time they are to be paid, his consignment of
flour will be safely housed in some public warehouse, and the w arrants
will be in his safe. A day or two before his drafts become due, he walks
down to his banker, or into Lombard street, amongst the money brokers,
with his w arrants in his hand, and a proper certificate of the quality, value,
& c., of the flour. Along with the bundle is a policy of insurance against
fire, from some good office, the Sun, the Globe, or the Royal Exchange,
for £25,000. H e walks with a confident step into the bureaus of the
money autocrats, and states that he wants the sum of £14,000 against
such a day, upon £20,000 worth of goods, of which he presents the w ar­
rants, certificates of value, and policy of insurance. T he lender, at a
glance, perceives the validity of the documents, and begins to talk of the
price ; if money is abundant, 2J- or 3 per cent per annum will probably be
asked ; if scarce, perhaps 4 or 4 | may be screwed out of the borrower.
T hat matter settled, the lender requests the w arrants to be left, in order
that liis broker may examine the goods, which being satisfactory, the time
is arranged, not to exceed so many months, and a power is given to the
holder to sell, in case of defalcation in payment. T he money is forthcom­
ing, the bills are paid, and the goods are not sacrificed, but held for a bet­
te r market. I f the market improves the next day, and the m erchant sells
a thousand barrels of the flour, he sends to the lender a check for £ 8 0 0
or £1,000, and takes away w arrants for one thousand barrels. Thus he
releases the goods and extinguishes the loan as he can command sales.
W hen the whole is paid off, the interest account is made up, and he finds
it amounts, perhaps, to thirty or fifty pounds; a payment which has saved
him and his principal, perhaps, £ 3 ,0 0 0 or £5,000.
T he N ew York merchant, on the other hand, receives his consignment
into his own warehouse, and looks to the sale of the goods in order to
meet the drafts he has accepted. T he market turns flat, several parcels
of goods arrive of the same kind, and buyers hang off. T he vision of his
coming drafts flits ominously before his eyes, and distorts the collectedness
and calmness of his thoughts ; anxiety perturbs his judgment, and interrupts
that clear and concentrated flo\y of exertion and action, which are necessary
to effective success ; and he hurries on the sale of his consignment. T he
more he will, sell, the more buyers wont purchase. H e spoils the market
and defeats his own objects ; nevertheless, he must s e ll; but the sacrifice
necessary to make deters and frightens him. H e is pained to cause so




346

Chapters from the Experiences o f a Merchant.

much loss to his principal, and so much discredit to himself; and hoping
against hope, he’holds on to the last, and then recklessly and compulsively
s e l l s , at, perhaps, 20, 30, or 40 per cent discount.
H e perhaps meets his
drafts ; but he has half ruined his principal, injured his own business, and
spoiled the market for every body else.
I f there had been a public warehouse, and w arrants issued for these
goods, he could have had them in a portable form, ready to hand to any
capitalist having spare funds, or ready to deposit with his banker for a tem­
porary advance ; a solid, real, substantial security, which may, perhaps, de­
preciate fo ra time, but cannot f a i l ; a security superior to the best bill of
exchange, as containing not promises to pay, contingent upon the ability of
the promisers to do so, but actual, existent, bona fide property, which can
neither melt away nor become insolvent. I say, if he had his imports in
such form as this, he could, probably, have obtained the sum requisite to
retire his drafts, have preserved his credit, protected his principal, kept
the market stiff, and his own mind calm, collected, and easy, without
which the energy and action of his business must ever be nerveless and
disjointed. I know that hundreds who read these lines will re-echo their
sentiments.
T he London merchant writes to his correspondent abroad, and informs
him that he regrets the market has not enabled him to dispose of the con­
signment of flour at remunerating prices ; that, in fact, if he had forced a
sale, it must have been at several thousand pounds sacrifice on the p arc el;
he would, therefore, retire the drafts he had accepted, and hold on the flour
for superior prices, for which he would barely charge his client 5 per cent
per annum, for the money advanced. T he correspondent abroad, is natu­
rally pleased ; he is impressed with the thoughtfulness and honesty of his
agent in thus protecting his interest. H e is impressed, too, with his
wealth ; he must be a rich man, he argues, or he could not so readily spare
$60,000 at 5 per cent, to hold on the flour.
T he N ew York merchant has a widely different tale to tell ; and a
widely different reception meets his advices. And yet they may both be
men of equal capital, equal business talent, equally honest and energetic
in their endeavors to do justice to their respective clients. But the one is
favored by facilities which the other is not.
T here is an independence, too, about the Londoner who goes with his
w arrants in his hand, to the money market to obtain advances, widely dif­
ferent to the one who is taking a batch of bills for discount. These last
are closely scrutinized ; the credit and means of the acceptors or endorsers
are weighed and re-weighed ; the credit and means of the borrower him self
carefully considered, re-considered, ferreted out and inquired into, until he
gets almost talked and inquired into discredit. An independent man hates
this. W ith warrants of goods of a stated value, he goes with a different
feeling. H e asks the advance upon the credit o f the goods, upon the
value o f the property, and not upon his own credit, though, of course, that
is pledged also. Yet that is not the point to scrutinize or inquire into ; it
is the value of the goods themselves, be it more or less— their intrinsic m ar­
ket value, which forms the subject of inquiry and examination ; and which,
of course, is done without questioning any person’s means or respectability.
In London, I know many houses of immense business, whose transac­
tions extend to the ends of the earth, literally speaking, and amount to hun­
dreds of thousands sterling during the year, whose active capital is almost
ridiculously small. In fact, it does not pay them to employ large capital;




Business Facilities o f London and New York Contrasted.

347

it is more remunerative for them to take at market price, and for short pe­
riods, just such sums as they require, rather than keep large floating capi­
tals. Wholesale dealers, too, can mostly hold their entire stocks in bond,
and conduct large businesses without warehouses, stores, & c .; no para­
phernalia, except a small office and a few forwarding clerks, denote their
immense transactions. T hey can always buy at convenient seasons
very largely, without increasing their working capital, as they can always
depend upon obtaining any money they require, upon these warrants.
This, again, tends to preserve the equilibrium of the markets, and prevents
an article getting extremely low, because the dealers instantly commence
buying up and laying by for future use ; a thing they would neither have
capital nor room to do if they had to remove the goods to their own w are­
houses, and pay for them in the usual mode.
In New York, I am cognizant of many instances in which .merchants
and wholesale dealers have their warehouses full of produce and goods,
and are, notwithstanding, frequently quite at a loss for portable security to
offer when they require the temporary use of money. They have abun­
dance of bulky value on their own premises, which they cannot transfer to
the iron safe of the capitalist, and they feel that to attempt to borrow mo­
ney on their own personal security, is always a hard and ungracious task ;
it is, in fact, humiliating ; it subjects them to doubts and inquiries which are
injurious and unpleasant; it causes their private life, their business specu­
lations, and their personal and family expenditure to be looked into and
watched by others ; in short, they are put under surveillance, and the bab ­
bling of lying mischief, or the tongue of malignant slander, may,, in a few
sneaking, skulking words, blast their credit, and bring their creditors down
upon them, when they are unprepared, and not expecting them. A system
of business which shall enable a trader to keep his stock as a kind of corps
de reserve, ready to support his credit at any moment, instead of being a
dead weight round his neck, must certainly be an invaluable improvement
in business tactics.
By these facilities, and those which ramify from, and are contingent up­
on them, in innumerable shapes, it will be evident that the merchant in
London has a decided advantage. T he facilities for the payment and re ­
ceipt of large sums of money in so safe a manner, the facility for the w are­
housing and transfer of goods in the public warehouse, and the facility of
converting dead stock into the best of security for loans and advances of
money, enables a merchant to depute, in a great measure, the detail of his
business to others. Thus his mind is left free to digest and reflect upon
the leading movements and speculations of his business ; he can calmly
consider the effects of a sale or purchase ; of an import or export ; he
watches the markets attentively, and considers them in regal’d to foreign
markets, and both in regard to the interests of his business. Thus he
keeps the grand course clear before him, and sees beforehand the results
of his movements. His mind is kept comparatively free from pecuniary
trouble. H e keeps his means under his thumb. His stock, properties,
ventures, are made so that he can convert them into securities for obtain­
ing necessary means at any time ; and thus he marshals his forces, keep­
ing all his operations active, setting in motion distant and complex springs
of industry; his subordinates trained to still, rapid action in their various
departments ; everything around him busily employed, while he himself ap.
pears in ample leisure. H e is never in a h u rry ; there is no turmoil or
bustle, and you might imagine that he had little or nothing to do. It would




348

Commerce o f the Great Western Lakes.

be quite a mistake, however ; he is extremely wide awake, active enough
to make money, and, wliat is better, to keep what he makes.
T he N ew York merchant, on the other hand, has more personal labor ;
there is more of the actual sweat of the brow, and less of the presiding
influence of mind. T he detail of business is not left to subordinates, but
occupies, most unprofitahly, the attention of the principal. There is bus­
tle and discomfort in the offices, fidgetiveness and anxiety on the counte­
nances, and a hurried, grasping action in the business movements of the
N ew York mercantile community. T here is an absence of that quiet lei­
sure and substantial assurance, amounting to a sense of certainty, which
marks the London merchant. But the defect is one, partly of circum­
stances which only time and the accumulation of wealth will rem edy;
partly of that prejudice and habit which impels a N ew York merchant to
do everything himself, instead of ordering a perfect system of detail, and
resigning its care to subordinates ; but mostly from the w ant of more per­
fect systems of monetary transfer and warehousing accommodations, which
might, without much difficulty, be invented and adopted.

I intended to have instanced many other points of Contrast, but this pa­
per has reached a greater length than I anticipated, and further observa­
tions must be reserved for a future chapter.
G. G.

Art. II.— COMMERCE OF THE GREAT WESTERN LAKES.
T he Hon. Robert M’Clelland, member of Congress, and chairman of
the Committee on Commerce in the House of Representatives, recently
addressed a letter to Jam es L. Barton, Esq., of Buffalo, for information in
relation to the present state of the commerce of the W estern Lakes. T he
importance of the subject to a very large portion of our country, rapidly
increasing in w ealth and population, and a patriotic desire to advance the
prosperity of the G reat W est, induced Mr Barton to procure from official
and other reliable sources, many important facts in regard to the rise,
progress, and condition of the commerce of these “ inland seas,” which,
together with a statement of the difficulties and em barrassments under
which it has been carried on from its early beginning unto the present
time, he has embodied in his reply to the chairman of the committee. A
copy of this letter has been furnished to the editor of this Magazine,
the substance of which we propose to lay before our readers in the follow­
ing pages, generally adopting the statements, and even the phraseology, of
the writer.
Mr. Barton commences his letter to Mr. M’Clelland with several ex­
tracts from a letter which he addressed to Captain W . G. Williams, of the
Topographical E ngineer Department, in December, 1841, in reply to some
inquiries of that gentlem an on the same subject. As the extracts from this
letter contain many interesting facts concerning the business antecedent,
and up to 1841, we have thought best to present them before we proceed
to follow Mr. Barton in his statements in regard to its present condition:
“ Prior to the year 1832, the whole commerce west of Detroit was confined, al­
most exclusively, to the carrying up provisions and goods for the Indian trade, and
bringing back, in return, the furs and other matters collected by that trade for an
eastern market, and the freighting up of provisions and supplies for the troops at
the different posts established around the Upper Lakes. All of which furnished a
limited business for a few schooners.




Commerce o f the Great Western Lakes.

349

“ The breaking out of the Black Hawk war. in 1832, first brought out a know­
ledge of the richness of the soil, and salubrity of the climate, of northern Illinois
and Indiana, and the Territory of Wisconsin, and exhibited the commanding po­
sition of Chicago, (hitherto an isolated place,) for commercial business. This
war being closed that same season, and peace being re-established in all those
parts, a strong emigration set in that direction the next year, and the rich prairies
of that country began to fill with a vigorous, hardy, and enterprising population;
and from that time only, the short period of eight years, may it in truth be said
that there has been any commerce west of Detroit.
“ As early as the year 1819, the steamboat Walk-in-the-Water, (built and first
went on to Lake Erie in the month of August, 1818,) the only steamboat on these
lakes, made a trip as far as Mackinac, to carry up the American Fur Company’s
goods, and annually repeated the same voyage, until she was shipwrecked on the
beach near Buffalo, in the month of November, 1821. Her place was then sup­
plied by the steamboat Superior, (now the ship Superior,) which came out in
1822; this boat also made similar voyages to Mackinac, which was then the Ul­
tima Thule of western navigation.
“ In 1826 or 1827, the majestic waters of Lake Michigan were first ploughed
by steam—a boat having that year made an excursion with a pleasure party to
Green Bay. These pleasure excursions were annually made, by two or three
boats, until the year 1832. This year, the necessities of the government requir­
ing the transportation of troops and supplies for the Indian war then existing,
steamboats were chartered by the government, and made their first appearance at
Chicago, then an open roadstead, in which they were exposed to the full sweep of
northerly storms, the whole length of Lake Michigan; and even at this day, the
slight improvements made at that place, in a partially constructed harbor, afford
them but a limited protection.
“ It is well known that the steamboats navigating these waters have very fre­
quently consolidated their interests and made returns of all the earnings to one
office, where their a'ccounts have been annually settled.
“ In 1833, the first association was formed by the steamboat owners, and, as I
was then engaged in commercial business, I was appointed secretary to the com­
pany ; and, as such, kept all the books and received the returns from each boat.
For my own satisfaction I kept an account of the number of passengers who
passed over the lakes. This year there were employed 11 steamboats, which
cost the sum of $360,000 ; they carried to and from Buffalo, and other ports on the
lakes, that summer, 61,485 passengers. Of these, 42,956 were taken from Buf­
falo, bound west; the remaining 18,529 were all landed at Buffalo, excepting some
few distributed at the different ports along the lake. There were made, that sea­
son, three trips to the Upper Lakes, two to Chicago, and one to Green Bay ; the
amount of receipts for which was $4,355 93; but how much of this sum was ac­
tually earned from business west of Detroit, I cannot say, as I did not, as I now
wish I had done, make this distinction. By way of contrasting the time employed
in making trips to Chicago in those days and the present, I will state that one of
the boats left Buffalo on the 23d June, at 9 P. M., and returned on the 18th day of
July, at 10 P. M. The other left Buffalo the 20th July, at 4 P. M., and returned
August the 11th.
“ In 1834, the boats kept up the association, which was composed of 18 boats,
costing $600,000, some new ones having come out that season. The same mode
of keeping and settling accounts was adopted, with this exception; I kept no ac­
count of the number of passengers. This year two trips were made to Green
Bay, and three to Chicago, and the amount of business done was $6,272 65; the
greatest part of this sum was for business west of Detroit, as the trips to Chicago
were made by a boat running from that place to Chicago.
“ In 1835, the association amongst the boats was kept up, but, as my own pri­
vate business required my whole attention, I declined being the secretary. As I
saw but little of the books, and they are now all settled, nothing definite can be
said of the amount of business done that year; but, as the spirit of land specula­
tion had commenced west, the number of passengers crossing the lake was much




350

Commerce o f the Great Western Laltes.

increased, and, consequently, the aggregate business done must have presented a
much enlarged margin over 1834.
“ In 1836, the steamboat association was dissolved; the number of steamboats
increased ; so did the business. There is no way, without endless labor, of deter­
mining the amount of business done, or the capital employed; but as speculation
was rife, and bank bills plenty, and everybody getting rich, a greatly increased
business to the west took place that year, of passengers, merchandise and pro­
visions.
“ I find the same difficulty for the years 1837 and 1838, with regard to the num­
ber of boats and capital employed, and amount of business done, in those years.
But, as a great revolution in the trade of the country had taken place, and a gen­
eral suspension of specie payments by the banks occurred in May, 1837, a less
number, or, at least, no greater number of passengers crossed the lakes, in either
’37 or ’38, than in 1836; and a great decrease of goods going west, also had a
tendency to diminish the business of those years. In all probability, could the bu­
siness of either of those years be ascertained, it would prove to be less than was
done in 1836.”
“ In 1839, another association was formed by the owners of the different steam­
boats ; but, as I had nothing to do with it, 1 cannot give much detail or amount of
business done by it. The increase of business to Chicago and ports west of De­
troit, by this time had become so large, that a regular line of eight boats, varying
in size from 350 to 650 tons each, was formed to run from Buffalo to Chicago,
making a trip in every sixteen days. The increase in the business was by emi­
grants with their household furniture and farming implements, and others going
west, and not from any freight from Lake Michigan, as the rapidly increasing
population of that section of the country required provisions to be imported into,
rather than exported from it.
“ In 1840, the steamboat association was kept up, and embraced more boats
than the one of 1839. This year I again became secretary, and can, therefore,
state something more specific about the business than I have done since 1834.
This year, the number of boats on the lakes was 48, of various sizes, from 150 to
(one of them only) 750 tons, and cost in the construction $2,200,000. Some of
these boats were run, and others laid up. The business this year west of Detroit
reached the sum of $201,838 62 ; this amount of business is made up (with the
exception of some $12,000 or $14,000 paid by government for transportation of
troops) by passengers, and freight of merchandise, going to the different towns,
(I cannot say ports, for there is none that a boat can enter with safety,) on the
borders of Lake Michigan; and passengers and produce, of which latter, there
was a good deal this year from the same quarter.
“ In 1841, the same arrangement existed among the steamboats. The boats
were run in the same manner as in 1840, with this exception; six boats of the
largest class ran from Buffalo to Chicago, making fifteen day trips, and one to
Green Bay a part of the season. The Chicago and Green Bay boats earned, this
season, the sum of $301,803 29. From the increased quantity of agricultural
productions brought from the shores of Lake Michigan this season, also a good
many tons of lead and shot from the mines in that section of country, now, for the
first time, in any considerable quantity, seeking a market by the lake route—and
the very large increase of fashionable travel from New Orleans to the Northern
States, during the hot season of the summer months—this route being preferred
in consequence of its being more speedy, less expensive, more healthy than the
lower route, and affording the traveller a view of the magnificent scenery of the
islands and shores of the Great Lakes—I estimate that three-fourths of the busi­
ness done by the Chicago and Green Bay boats this year is made from legitimate
business west of Detroit, and amounts to $226,352 46. The price of passage and
freight from Buffalo to Chicago, this and two or three years prior, has been, for
cabin passage, found, $20 ; steerage passage, $10 ; and for freight, 75 cents per
100 pounds for light, and 50 cents per 100 pounds for heavy goods, excepting for
a month or so at the close of the season, when freights alone are usually higher.
When the business first commenced westward of Detroit, the price of cabin pas­
sage and found, to any place on Lake Michigan, was $30, and freights in proportion.




Commerce o f the Great Western Lakes.

351

“ I would here remark, that so far as steamboats are concerned, owing to the
entire want of harbors around Lake Michigan to afford them protection, their
whole business is now confined to the western shore of that lake. During the
past season, in midsummer, two or three boats touched at Michigan City and St.
Joseph. With these exceptions, Milwaukie, Racine, Southport, and Chicago, are
the places where they have regularly done business.
“ I have not been able, neither is it possible, to show the annual increase of bu­
siness west of Detroit, since the year 1834, but I have been able to exhibit, and
very correctly, too, the astonishing increase in business in that quarter from that
time to the close of 1841, and it is found to have grown, in the short period of
seven years, from the trifling sum of $6,272 65, to the magnificent amount of
$226,352 46.
“ I shall now call your attention to the commercial business done by sail craft
on the same lakes.
“ I estimate the number of sail vessels owned on Lake Erie and the Upper
Lakes, at 250, varying in size from 30 to 350 tons; the largest one being an old
steamboat converted into a sail craft. The smaller sized ones are employed in
wood, lumber, and stone business, and confine their operations principally to rivers
and short trips, while the larger ones are employed in freighting produce, mer­
chandise, and other property, the whole length of the lakes.
“ The cost of these vessels varies from $1,000 to $14,000. I have taken $5,000
as a fair average, which will show that there is employed in sail vessels a capital
of $1,250,000. These vessels will earn annually from $500 to $6,500 each. I
average them all at $3,000, which will show an amount of business done of
$750,000. Very many thousands of dollars of this business is made from freight
west of Detroit; but how much, I am unable to say.
“ The amount of tonnage on these lakes I am unable to furnish you with, and
it would require much time to obtain it from the different custom-houses.
.“ Hitherto I have confined myself to our domestic trade, performed by steam­
boats and vessels owned on Lake Erie and the Upper Lakes. But a full view of
the whole commerce of the Great Western Lakes cannot be shown without ad­
verting to what I may term a foreign or auxiliary trade, of great and growing im­
portance. I now have reference to the business done by vessels owned on both
sides of Lake Ontario, which pass through the Welland Canal, and push their
trade to the extreme end of Lake Michigan.
“ With the exception of Lake Erie, which is partially furnished with harbors,
constructed by individual enterprise, and appropriations by Congress, the Upper
Lakes are almost entirely destitute of these indispensable requisites for the safety
of commercial interests engaged in that great and growing trade.
“ With here and there a lighthouse above Detroit, everything remains almost in
the same state it was found by the commercial pioneers when they first broke
their way through Lake Michigan.”
Passing from this view of the Commerce of the Lakes to the close of
1841, Mr. Barton proceeds to give an exhibition of its present condition
and importance, confining his remarks, however, mainly to the movement
of the trade in the year 1845, although he furnishes statistical tables which
include the years 1843 and 1844. T hat year (1845) was selected by Mr.
Barton, as he informs us, as one quite as unfavorable to the business, as
either of the two previous years ; owing to the diminished receipts from
the W estern States of the more valuable agricultural productions, flour,
wheat, pork, corn, and many other articles.
“ My purpose is to present to you as far as it is possible to do so, a full, fair,
and not exaggerated statement of this business ; and will include an account of
the number, tonnage, and cost of the steam and sail vessels employed in 1845,
the gross amount in value of property transported therein, the losses in life and
property, the number, tonnage, cost and description of vessels built that year, the
number of persons who crossed these lakes, as well as exhibit to you some of the




352

Commerce o f the Great Western Lakes.

difficulties and hazards under which it is prosecuted, owing to the want of good
harbors and other iacilities for its protection and safety.
“ I have a familiar and personal knowledge of the commerce of our Western
Lakes, obtained by a connection with the business of thirty years, and collection
and careful preservation of yearly statistics in relation thereto. Yet with all this
personal knowledge and careful collection of statistics, I am not able, neither is
any person, to give a perfect and exact account of the amount of this business, as it
greatly exceeds all the facts and figures that are ever made and collected together.
“ This arises from many causes; in some great degree from the manner in
which our custom-houses do their business. The principal part of the business
of the Jakes, being of a coasting character, vessels are not required to report on
their manifests their cargoes precisely, as in cases of foreign voyages ; and much
business is done between ports within the same district, where reports of cargo
are not required, and between various ports on the different lakes, which, if re­
ported, the amount cannot ever be ascertained ; thus placing it beyond the power
of any person to arrive at a full knowledge of what is done. To change or alter
the manner of doing business at the custom houses, the voyages being so short, in
a great many cases thirty hours being all the time required to perform a voyage on
Lake Erie, would greatly embarrass the business, cause great loss and detention,
without affording much, if any greater protection to the government against
smuggling, or be productive of any other positive good.
“ INotwithstanding all the difficulties attending the acquiring a full knowledge
of the entire amount of the commerce of the Western Lakes, sufficient authentic
facts can be ascertained, to show the business is great and constantly increasing,
and is of sufficient consequence now, to entitle it to the just and favorable notice
of the government, in constructing harbors, deepening channels, and building
lighthouses and beacons for the preservation and safety of the lives employed,
amount of capital invested, and great value of property yearly transported on
these lakes.”
Buffalo being the great port of delivery for western products seeking an
eastern market, as well as shipping port for merchandise, manufactured
articles, emigrants’ furniture, &c.., &c., passing to the W estern States,
Mr. Barton consulted the canal office in that city for the amount of such
business done upon the E rie Canal to and from Buffalo, as well as to as­
certain the states, territories and countries from whence the business comes
and goes. By the canal regulations, the accounts are required to be kept
in such manner as will specify the property, and places where it comes
fro m or is going to.
T his will show an important branch of the lake commerce, perhaps the
largest, but far from being all. Much passes on the railroad between
Bulfalo and A lbany; via E rie, through the Pennsylvania C a n a l; Cleve­
land and Toledo, through the Ohio and Indiana Canals, and E rie and K al­
amazoo Railroad ; Monroe and Detroit, by the Michigan Railroad ; and
yet more through the Welland Canal to Canadian markets ; and to N ew
York, via the Oswego C a n a l; the whole of which, could it be arrived at,
would increase the quantity greatly.
T hese canals and railroads not merely carry off the down commerce of
the lakes, but, like the E rie Canal, they furnish a very large amount of up
commerce. All, however, fall very far short of furnishing statements of
the entire amount of the business. T ake Buffalo, for instance, with a resi­
dent population of 30,000, with all the seamen, boatmen, emigrants, trav­
ellers, and others, passing there, who are fed by supplies from the W estern
States, received via the lakes, of which no account is, or can be kept. So
with regard to the immense quantities of lumber, in all its varieties, and
other building materials ; the many thousands of bushels of mineral coal




Commerce o f the Great Western Lakes.

353

used there for fuel and manufacturing purposes, and western lead, of which
ten to fifteen hundred tons are annually used in our white lead factories
and shops. So also, the salt, merchandise, and the varied descriptions of
manufactures made at Buffalo, sold and shipped to the W estern States, all
contributing to swell the aggregate of this commerce.
Mr. Barton furnishes two tables from the canal office books at Buffalo.
T he first shows the kind and amount of property first entered or cleared
on the canal from Buffalo, bound towards tide-water, and the places from
whence it came. T he second exhibits the kind and quantity of property
received at Buffalo via the canal, and its places of destination.
T he tables of Mr. Barton designate the quantity of each article shipped
at Buffalo, for Ohio, Michigan, Illinois, W isconsin, Indiana, Pennsylvania,
Kentucky, Missouri, Canada, and N ew York ; and the quantity received
at Buffalo, from those States. From these tables, which occupy more
space than we can well spare, we have compiled aggregate statements of
the amount of business, shipped from Buffalo on the E rie Canal, in the
years 1844 and 1845, as follows :—
R E C E IV E D A T B U FFA L O .

Articles.
Fur and peltry,.......
Boards and scantling,. feet
Shingles,.................
Timber,.................... c. feet
Staves,.....................
Ashes,................
Pork,.......................
Beef,........................
Bacon,......................
Cheese,.....................
Batter,......................
Lard,........................
W ool,......................
H ides,......................
Flour,.......................
W heat,..................... .bush.
R ye,.........................
Corn,........................
Other grain,........... .bush.
Br. and S. stuff,......
Peas and beans,.....
Potatoes,..................
Dried fruit,..............
Cotton,.....................
Tobacco,..................
Clover and grass-seed, .lbs.
Flax-seed,..............
Hops,.......................
Domestic spirits,.....
Leather,...................
Furniture,................
Bar and pig lead,...,
Pig iron,..................
Iron ware,...............
Domestics,...............
Salt,.........................
Merchandise,..........
Stone, lime, and clay,.lbs.
Mineral coal,......... .
Sundries..................
VOL. X V. --- NO . IV .




S H IP P E D FR O M B U FFA L O .

Aggregate
business
of 1845.

Aggregate
business
of 1844.

Aggregate
business
of 1845.

Aggregate
business
of 1844.

545,097
19,932,069
554
11,440
89,174,110
38,417
28,235
34,084
1,218,811
2,759,925
3,397,690
2,752,441
3,441,317
709,861
721,891
1,354,996
903
33,094
9,040
3,266
1,587
3,455
7,837

361,446
15,502,450
262
8,512
61,515,236
37,365
52,417
33,348

14,862
3,140,959

14,872
2,822,406

84,344
137,580
4
43

1-09,409
96,325

2,304,827
6,281,577

7,258
7,565
200
14,913
319,272
3,310
271
3

4,709
5,340

608,349
2,487,336
184,563
4,436
272,336
1,090,548
1,254,764
345,387
161,518
33,779
24,456

210,152
3,248,488
126,482
22,030
69,352
362,459
900,990
126,158
56,165
77,430

291,185
11,904,950
1,954,850
6,844,395

224,123
945,785
15,731
6,798,227
23

2,643,148
376,329
851,180
1,786,104
2,549
114,529
8,231
15,045
927
102
193,272

•

10,564
45,354
367
1,706
807,599
50,914
120,364
11,558

5,838
298,222
2,366
11,072

44,443

6
30
22,495
45,216
61,052
6,870

35,085
17,840
2,081
9,491,372

12,183
4,992
2,400
8,838,948

110,886
2,813,046

861,880
2,343,585

582,694
100,893,428
j, 37,134,457
5,222,991
6,576,203

780,492
93,678,706
22,438,420
5,571,061
3,770,162

354

Commerce o f the Great Western Lakes.

These tables exhibit the commerce of the lakes passing through Buf­
falo, for the years 1844 and ’45, up and down on the E rie Canal. They
are made from forms in the canal office. They illustrate, in some degree,
the singular and diversified operations of commerce. T here was received
at Buffalo, from Ohio, during the year 1845, and passed towards tide-wa­
ter for a market, 881,155 pounds of stone, lime and clay ; and, during the
same time, the canal delivered at that city, which w ere shipped to Ohio,
900,540 pounds of the like kind of property. T he same with regard to
mineral coal, and many other articles.
The last item in the tables, sundries, is very comprehensive, and em­
braces all unenumerated articles paying the same rate of toll, a few of
which are hemp, beef and mutton tallow, lard and essential oils, lake fish,
broom-corn, cranberries, medicinal and other roots, apples, and many
others.
Fluctuations in a variety of articles of the same kind appear, being
greater one year and less the next. Flour and wheat, for instance, in 1845,
is much less than in 1844. T he reason assigned for that by Mr. Barton,
is this : the sudden rise in value which wheat and flour took early in Sep­
tember, 1844, brought nearly the whole crop into m arket from the W est,
that year. T he crop of 1845, in Ohio, from whence we have heretofore
drawn our largest supplies, was extensively injured by the drought, and her
exports much reduced. T he same cause prevented much of the prolific
crop of Michigan being converted into flour, we being short over 100,000
barrels from that State, although we have a slight increase in wheat. The
like cause affected the fruit crops in all the W est, they being importers of
green and dried fruits, instead of exporters ; likewise, with regard to but­
ter, cheese, clover and grass-seed, all w ere affected by the same cause.
T he unusually fine navigable condition, and early opening of the rivers
l e a d i n g from the valley of the Miami and the W abash, the great pork re ­
gion of the United States, in February, 1845, long before the lake route
could be used, caused the great bulk of that article to descend the Missis­
sippi. Corn being a cheap article, and as expensive to transport as wheat,
could not appear in kind, but came forward in the shape of domestic spi­
rits, in largely increased quantities. In addition to all, after the grain crops
had been gathered in, in the W estern States, the extremely boisterous
navigation of the lakes, during the most part of last fall, did allow only
time enough to get a small portion to market.
T he quantity of furniture gives a better idea of the course of western
emigration than anything else.
By the tables of Mr. Barton, one important fact is shown. T hey desig­
nate a number of the states and territories, and their productions, which
participate largely in this commerce. To those named may be added
Massachusetts, which, by her great W estern Railroad, connecting with
the E rie Canal, is very deeply interested, and so are all the other N ew
England States in a lesser degree, in exchanging their varied manufac­
tures for the agricultural products, and minerals of the W estern States.
T he State of Louisiana already finds a great and rapidly increasing m ar­
ket through this commerce, for the consumption of her sugar and molasses.
As cotton factories grow up around these lakes, the cotton-growing States
will see that article traversing our great w estern waters ; and the British
possessions and fisheries around the St. Lawrence will consume large
quantities of American provisions received through this channel. In view




Commerce o f the Great Western Lakes.

355

of all this, asks Mr. Barton, if the Memphis Convention considered the
Mississippi River an inland sea, what may our great chain of lakes be
called ?
Amongst the articles classed sundries, in Mr. Barton’s tables for 1845,
Missouri, 47,170 pounds, is lard oil, and Kentucky, 610,415 pounds, is
hemp, brought this way through the new canal, opened from Cincinnati to
Toledo, on Lake E rie ; it is already an item of some importance. As the
N ew York Canal Board have made some considerable reductions in tolls,
on many articles of w estern products, we may look for a corresponding
increase of them to pass over the lakes. T hat such will be the result of
the reduction of tolls, will be seen by the following extract of a letter,
dated—
“ C incinnati, May 2d, 1846.
“ Yesterday, Messrs. James Wilson & Co., agents for Griffith’s Western Line,
received a quantity of flour from St. Louis, to be forwarded to New York, via
Miami Canal and the Lakes. This shipment will be followed by others for the
same destination. This is a new feature in our canal business; as well as a new
element of prosperity. The charges on this flour will be nearly as follows :—
Freight from St. Louis to Cincinnati, per barrel,............................
Cartage, and Cincinnati charges,.....................................................
Freight thence to New Y ork,...........................................................

$0 20
0 8
1 25

Total charges, per barrel,......................................................

$1 53

Cheap enough, in all conscience, for carrying 1,775 miles. The charges by the
southern route would be about $1 40 per barrel, but the danger of souring, the
damage to packages in the trans-shipment at New Orleans, &c., will be greater
than the difference in freight.”
In the year 1845, there were the following number and description of
vessels owned and running on the lakes above N iagara Falls, as near
as can be ascertained by the most careful inquiry :—
Steamboats................: ........................................
Propellers,...........................................................
Brigs....................................................................
Schooners,..........................................................

52
8
50
270

20,500 tons.
2,500 “
11,000 “
42,000 “

380

76,000

costing in their construction, $4,600,000.
Mr. Barton gives the following as the number of boats on Lake Ontario,
during the year 1845, viz. : 7 steamboats which confined their trade to
that la k e ; 8 large propellers, and about 100 brigs and schooners, not
merely engaged on that lake, but the largest sized and greater number ex­
tend their operations to the extreme end of Lake Michigan, via the W el­
land Canal, and carry up and bring back an immense amount of business
in merchandise, salt, passengers, agricultural productions, &c. The ton­
nage owned and built on Lake Ontario, is estimated at 18,000 tons, and
the cost of construction at $1,500,000.
In the fall of 1845, after the close of navigation, there were put in con­
struction around these Upper Lakes, 7 steamboats, 9 propellers, 14 brigs
and schooners, all of the largest class. Large additions were made during
the winter of 1845, to the tonnage on Lake Ontario.
T he extremely boisterous weather last fall was very destructive to lives
and vessels, amounting to, as nearly as a careful account can make it, sixty
lives lost, thirty-six vessels driven ashore, twenty of which became total




356

Commerce o f the Great Western Lakes.

wrecks, four foundered at sea, with entire loss of crews and cargoes, and
producing a loss in the aggregate of property over two hundred thousand
dollars. And it has suffered in losses, within the last five years, more than
four hundred lives, and destruction and damage to steamboats, vessels, and
cargoes, more than one million of dollars.
T he increase of the lake marine during 1845, on Lake E rie and the
Upper Lakes, consisted of the following vessels :—
INCREASE OF LAKE MARINE IN

Names.
Niagara,.........................................

.

Boston,...........................
Superior,........................
T roy,..............................
Helen Strong,.............
John Owen,...................
Romeo,..........................
Empire, 2d, .................................
Pilot, ....................................................
Princeton, ...................................... .
Oregon,............................................
Phoenix,...........................................
Detroit,..............................................
.

Enterprise,.....................................
Wing.and-Wing,................... .
Magnolia,.................................................
Scotland,........................
J. Y. Scammon,.............................

Class. Tonnage.
steamer, 1,075
“
781
775
567
“
547
253
2'50
180
“
100
“
100
100
80
propeller, 456
“
313
305
290
brig,
225
“
207
schooner, 228
“

“
“

200
200
194
195
190
180

Eagle, ...............................................................

1845.

N am es.

Bonesteel,.........................................
Rockwell,........................
Henderson,..................
Rainbow,.........................
C. Howard,.....................
J. Irw in,..........................
Avenger,.........................
E .

Class. Ton’ge.
schooner
150
130
<(
120
«
110
110
103
n
101

78
tt

ff
fi
tt

Cadet,....................................................
Elbe, .......................................................
Planet,...................................................
Albanv,...............................................
Pilot, .......................................................
Mary Anne .....................................

((

ft
ic
if

Sparrow,............................................
Big B.,..............................
Hard Times,....................
Friendship,......................
Buffalo,..............................................................

fi
it
ff

sloop,

74
27
61
57
25

148
50
50
60
50
60

45
45
30

at a cost exceeding $650,000.

9,725

Mr. Barton gives the following (as part) of the addition on L ake Ontario : —
Names.
Syracuse,..................................................... .
H. Clay,.........................

Names.
Class. Tonnase.
propeller, 3 15 Maid of the Mill,............
300 Milan,..............................

Class. Ton’ce.
schooner, 200
ft
it

258
335

Algomah,.......................
“
“

H . H. Sizer,.................. . schooner,

314
154
242

ft

Josephine,........................

ft

147
200
220
175

3,160

T h e vast emigration passing through the extreme length of these lakes
to purchase and settle the public lands, will annually require an increase
in size and number of vessels, to carry off the increasing productions of
that fertile section of country, and to supply their wants from the seaboard.
T he actual number of steamboats now on the lakes, compared with
1841, is not much, if any, increased; but those which have gone off, have
been supplied by others of double and quadruple in capacity. At that day,
there was but one boat over 700 tons, and one other above 600 tons bur­
then. The new ones range from 600 to 1,200 tons. At that time the
business from Buffalo to Chicago could be done by six or eight of the then
largest size boats ; now it requires fifteen, of more than double capacity,
to do it, aided by about twenty steam propellers of more than 300 tons




Commerce o f the Great Western Lakes.

357

each, and an almost endless number of large brigs and schooners, many
of which can carry 10,000 to 15,000 bushels of wheat.
Since 1841, the price of fare and freight by steamboats has fallen to,
cabin passage and found, $12 ; steerage, $6 ; light goods 35, and heavy
to 20 cents per 100 pounds, except late in the fall months, when an ad­
vance is usually made in freight alone.
In 1835 the following description of property came from the State of
Ohio, being then the only exporting Stale on these lakes, and passed
through Buffalo, via the E rie Canal, to tide-water :—
Barrels flour. Bushels wheat.

86,233

98,071

Lbs. staves. Bbls. provisions. Bbls. ashes.

2,565,272

6,562

4,410

Lbs. wool.

149,911

In 1845 the exports of Ohio, and other States around these lakes, sent off
by the same channel,
717,406
1,354,930
88,296,431
68,000
34,602
2,957,761
T he total amount of flour and wheat exported from the same States in
1845, and which passed over the lakes, exceeded 1,500,000 barrels of
flour.
W ithin ten years, many thriving cities and towns besides Chicago, have
sprung into existence. Amongst the most prominent may be mentioned
Navarino, Sheboygan, Milwaukie, Racine, Southport, and Little Fort, con­
taining an active and busy population, from 1,000 to over 8,000 each, and
annually increasing; while the rich and valuable lands in the rear, all
owned by- the government, are being rapidly sold, and brought under culti­
vation by an industrious, enterprising, and worthy class of settlers.
On the eastern side, the St. Josephs and Grand River towns, and others,
are pushing forward with great zeal, and adding largely to their numbers
yearly. The large rivers traversing the State of Michigan, and which
discharge themselves into that lake, are already navigated by steamboats
fitted for that navigation, and so are Fox River and W innebago Lake, be­
yond G reen Bay.
T he earnings from the business done on Lake Michigan, in 1833, by
steamboats, amounted to $4,355 ; in 1834, it increased to $6,2 7 2 ; in
1841, the large amount of $226,352 was done.
In undertaking to arrive at the aggregate value of the commerce on
these great lakes, Mr. Barton adopts the following m ethod:—
“ The amount, as shown by the tables appended hereto, and what is done from
the extensive mills at Black Rock, which joins Buffalo, in 1845, by an estimate
made by the Canal Board of this State, from a system long adopted, and from ex­
perience found to give very near the true amount, is $28,000,000; add the com­
merce to and from this city, which never reaches the canal, and it will increase
the sum $5,000,000 more ; which amount is further to be increased by all the bu­
siness delivered on and taken from the lakes by the various other canals and rail­
roads named in this communication; and the very large amount of what may be
termed intermediate commerce between different ports on the lakes, which I put,
with great confidence, at an equal amount with that done through Buffalo. And
to all this must be added the amount done on Lake Ontario, which I place
at $15,000,000, and I arrive, without the fear of being refuted, at an amount of
$81,000,000, without including one dollar of the immense sums of money carried
over these lakes.”
T he number of passengers that annually cross these lakes forms




358

Commerce o f the Great Western Lakes.

another important branch of this business. Last year, during the season
of navigation, there were three daily lines of large steamboats leaving Buf­
falo for Toledo, Detroit, and the western shore of Lake .Michigan, as far
as Chicago, besides other shorter lines.
From a careful count and estimate of the names of passengers on the
different boats’ way-bills, deposited in the office of the steamboat associa­
tion, of which Mr. Barton was the agent, made by a gentleman of ac­
knowledged correctness as an accountant, it appears that during the last
season,
The number of passengers which lefi Buffalo, was.............................................
Taken on board at way-ports before the boats reached the end of their route,.

93,367
5,369
98,736

About 200,000 persons, independent of the crews of the steamboats and
vessels, crossed these Upper Lakes in 1845. And to this great number
may be added 50,000 more, passing and repassing on Lake Ontario in va­
rious ways, and including those taken to and from the Upper Lakes in the
propellers and vessels which pass via the W elland C a n a l; making the
total aggregate of all the passengers passing on ail the lakes in 1845,
about one-fourth of a million.
In addition to the boats and lines run last season, there is this season
one boat running from Buffalo to G reen Bay, and two from Cleveland and
Detroit to the Sault de St. Marie, and one from Mackinac to the Sault for
the accommodation of the business just commencing with the copper re­
gions around Lake Superior.
Surely, observes Mr. Barton, this vast amount of life exposed, capital
invested in steam and sail vessels, and value of property transported therein,
owned by the citizens of so many States bordering on the lakes, and
which is fast approaching one hundred millions annually, nearly equalling
the whole foreign export trade of the United States, cannot but present a
strong claim on the justice of Congress for an equitable expenditure of the
public revenue for its protection and safety.
Mr. Barton briefly discusses the constitutionality of the system of.internal improvements, and very justly asks the aid of government.
“ The navigation of these great lakes is of the highest importance to this Union,
whether regarded in a commercial or national point of view.
“ Commercially, as binding together by the strong ligaments of mutual interest
and benefits, a very large number of the States, who are thereby enabled to ex­
change their varied commodities of trade, one with the other, and' with all; while
each revolving year adds a new and stronger link to the bright chain of friendship
and interests, which indissolubly connect them together. Nationally, as furnish­
ing the government with the cheapest, most prompt and efficient means of defence
to an extended frontier. Only give the hardy navigators of these Northern and
Western Lakes channels of communication deep enough to swim their ships in,
and harbors to protect them from tempests and storms, and government will al­
ways have at hand, on this frontier, the ready means to repel insult and aggres­
sion, come when, and from where it may.”
W e subjoin a tabular statement of the amount of revenue collected for
the two fiscal years, running from the 1st of July, 1843, to the 30th of
June, 1845, at all the ports of entry on the N orthern Lakes, and the
amount collected each year at each p o rt:—




The New York and E rie Railroad.
Port

of entry.

Vermont,.................................... .............
Champlain,.................................
Qswegatchie,............................. .............
Sackett’s Harbor,....................... .............
Oswego,..................................... .............
Niagara,..................*.................
Genesee,....................................
Buffalo,....................................... ...............
Cape Vincent,........................... .............
Presqu’ Isle...............................
Cuvahoga,..................................
Sandusky,................................... .............
M iam i,.......................................
Detroit,........................................
Michilimackinac,.......................

1843—44.

359

1844—15.

$15,855 66
66
2,093 24
1,056 48
5,219 57
41
31
8,000 52
1,961 09
70
37
200 11
16
29
30

$14,622
12,095
2,883
608
7,770
3,462
1,203
10,123
779
312
3,455
468
48
4,704
462

$54,776 87

$62,003 86

84
90
40
57
54
85
95
96
40
66
43
77
84
19
56

T he Hon. Mr. W entworth, member of Congress, from Illinois, in a
speech on the appropriation bills, makes the following statements, with
which we close the present article on lake commerce :—
T he lake commerce, said Mr. W ., was more extensive than would be
supposed from the very small number of lake representatives on this floor.
In 1845 there were 17 vessels, of 4,598 tons, built on Lake Ontario ; and
between Buffalo and Chicago, 48 vessels, of 10,207 tons. In all the lakes,
save Champlain, 65 vessels, of 15,000 tons, costing $850,000.
In the last live years, were built above N iagara Falls, 180 vessels, cost­
ing $2,500,000. O f these, 31 were steamboats, and 4 propellers.
In the whole lake trade, Mr. W . estimated 60 steamboats, 20 propellers,
50 brigs, 270 schooners— making 400 vessels, of 80,000 tons ; costing
$4,000,000.
T here are now building on the stocks between Chicago and Buffalo, 10
steamboats, 12 propellers, and 12 sail vessels— 34 in all. T here are
6,000 active seamen on these lakes, and their commerce, the past season,
has been all of $125,000,000.

Art. H I.— THE NEW YORK AND ERIE RAILROAD.
F i v e millions of dollars having been already expended in the construction
of the N ew York and E rie Railroad, the state lien of three millions of
dollars having been removed, the necessary surveys and locations made
and completed, and three millions additionally subscribed by the citizens
of N ew York, to further the efforts of the company to advance the work,
are a sure guarantee that this great enterprise, which has hitherto sustained
so many drawbacks and discouragements, during a period of nearly a quar­
te r of a century, is about to be successfully consummated. Destined, as
this road is, to form a crowning feature among the many gigantic enter­
prises undertaken and successfully prosecuted to completion, by the indom­
itable energy of the citizens of the Em pire State, it may interest the read­
ers of the M erchants’ Magazine to recur to the early history of this work,
its progress, present prospects, and ultimate effects upon the trade and
commerce of the Atlantic seaboard, and the great and growing W est,
w here scarcely less interest is manifested for its completion than by the
citizens of N ew York.




360

The New York and E rie Railroad.

In recurring to the early history of this work, we find that the original
charter for the E rie Railroad was granted by the New York legislature,
in 1832, upon the application of E l e a s e r L o r i ), and others, with a capi­
tal of 810,000,000. This sum comprises the highest estimate ever made
for the construction of the work, including a double track. T he first sur­
vey of the route took place as early as 1825, under the direction of the
State, and subsequent surveys were ordered to be made at the expense of
the United States government, which were but partially carried out. T he
survey of 1825 began at a point upon Lake E rie, and terminated upon
the Hudson in Rockland county; but the unfavorable profile exhibited in
the survey, the jealousy and rivalry occasioned by proposing a variety of
branches and terminations, and, above all, the growing indisposition upon
the route of the E rie Canal to favor the opening of a thoroughfare through
the southern counties of the State, produced many discordant views and in­
terests, and resulted, for the time, in the abandonment of the project. T he
subject, however, did not cease to occupy the attention of many of its early
friends. T he benefits which arose from the opening of the E rie Canal
led many to believe that a work of similar utility could be constructed
through the southern tier of counties. T he subject of railways had begun
to attract attention, and the information concerning them tended to confirm
the public mind for a work of that description upon the route in question,
which resulted in the application of Mr. Lord for a charter, which passed
the legislature in 1832.
A new survey of the route being considered indispensable before sub­
scriptions to any amount could be obtained, Mr. Lord, as chairman of the
commissioners named in the charter, applied to Congress for a re-survey
at the expense of the general government. In this application, about forty
senators and representatives from different States, united ; which resulted
in an appropriation to defray the expense of a survey by the topographical
corps, under chief engineer, De W itt Clinton, Jr. Mr. Clinton made his
report to the topographical bureau at Washington, where maps were exe­
cuted, and forwarded to the company in 1833, which had previously been
organized, and Mr. Lord chosen president. Meetings of the citizens of
the southern counties continued to be held upon the subject, and at a con­
vention of delegates from thirteen counties, which met at New York, in
November, 1833, a memorial was prepared and presented to the legisla­
ture, asking aid to the company. T he result was the passage of an act
appropriating 815,000 to complete the survey of the road, in aid of which
O range and Rockland, it deserves to be mentioned, had contributed liber­
ally. Under this act, Benjamin W right, Esq., was appointed chief engi­
neer, and the favorable results which attended this survey, encouraged
others to subscribe to the stock, which, at the outset, was 81,000,000, di­
vided among a few individuals. In February, 1835, Mr. Lord resigned as
president, and Mr. Jam es G. King was elected to that office, in which he
continued to serve with much ability for nearly five years, or until Septem­
ber, 1839.
At the legislative session of 1836, authority was granted by the N ew
York legislature to loan the credit of the State to the company for
$3,000,000 in aid of their undertaking. Up to this period, the collections
which had been made upon the stock of the company, amounted to
$346,237, against which three issues of$100,000 each, of state stock, were
received and sold, prior to September, 1839 ; but, owing to the state of the




The New York and E rie Railroad.

361

times, $245,225 were only received as the proceeds of the three in­
stalments. In the crippled state of the stockholders, and the continued
em barrassment of commercial affairs, to avoid another suspension of the
work, propositions were tendered to the inhabitants of the counties upon
the route of the road to the effect that subscriptions and payments made
by them should be expended in the counties respectively, together with a
like ratio of the proceeds of the state stock. Mr. Lord was appointed a
commissioner to carry this plan into effect in the counties of Orange and
Rockland, and, at the close of 1839, forty-six miles of the road were com­
pleted to Goshen. Similar measures for the extension of the work were
also adopted on the Susquehanna division of the route, and work equal to
one hundred and seventeen miles in extent contracted for.
W e should not omit to mention, in this connection, the valuable services
rendered at this difficult period of the company’s affairs, by the citizens o f
O range county. Through a committee, chosen by the citizens of that
county, composed of the Hon. John B. Booth, Jesse Edsall, Esq., and
H enry Merriam, Esq., they proposed to raise $50,000 in aid of the work,
if thereby a like sum w ere expended by the company in that county, and
for which they pledged their personal obligations for a portion of the
am ount; a circumstance which, at that time, contributed greatly in deter­
mining the eastern termination of the road at Piermont, which had, up to
this period, remained an open question. G eneral W ickham, and other
citizens of that county, were also distinguished at subsequent periods for
their efforts in behalf of the work.
In September, 1839, Mr. King resigned the office of president, and M r.
Lord was again elected to that office, which he continued to till till May,
1841. At the legislative session of 1840, the loan bill was further amend­
ed, so as to authorize issues of $100,000 of state stocks against every
$50,000 which had been, or thereafter should be collected on the stock of
the company, until the original amount of the $3,000,000 should be issued.
Upon the sale of the $3,000,000 of state stock, bearing an interest vary­
in g from 4 j to 5y and 6 per cent, and sold prior to January, 1842, an ag ­
gregate loss was sustained of over $400,000, or 13 j per cent. T he sac­
rifice of so large a sum rendered the company unable to pay the quarterly
interest due on the state loans, and in April, 1842, the company was com­
pelled to place its affairs in the hands of assignees, who were, thereby,
enabled to keep the eastern division of the road in successful operation,
although all operations upon other portions of the work ceased entirely.
On the 28th of May, 1841, Mr. Lord resigned the office of president,
and Mr. Jam es Bowen was elected in his place, which he continued to fill
till October, 1842. In October, 1843, an entire new list of directors were
chosen ; but no further progress was made in the work during that year.
In April of that year, the bill known as the “ Faulkner bill,” was passed
by the legislature, by which it was intended that the State lien should be
released upon certain conditions, and that the bonds of the company should
be issued as a first lien upon the road. Those bonds, however, were
found to be unsaleable, as they would not become a lien upon the road
prior to that of the State, except in the event of the work being finished
within the term prescribed by the law.
At the annual election of directors in October, 1844, Mr. Lord was
again appointed president of the company. An address was issued, ex­
pressing the views of the undertaking, and proposing a subscription to the




362

The New York and Erie Railroad.

stock as necessary to a resumption of the work prior to the- expiration of
the time limited for its completion by the terms of the Faulkner bill. A
subscription was accordingly opened, and proposals made for grading
twenty miles of the road beyond Middletown, upon which the work was
resumed in February, 1845. Further action was suspended, awaiting the
action of the legislature with reference to the State loan upon the road. In
May, 1845, a law was passed releasing the road from all claims by the
State, as well as providing for consolidating two shares of the old stock
into one of new. Up to this period, the payments upon the stock of the
company, including all payments upon existing shares, were as follows :—
By subscribers in New Y ork,....................................................................
“
on the eastern division of the road,..................................
“
on the Delaware and central division,...............
“
on the Susquehanna division,...........................................
“
on the western division,.....................................................
“
from elsewhere in this and other States,.........................
Total,...........................................

$ 3 5 6 ,9 3 2
476,076
52,600
228,151
383,325
20,050

qq

00
00
00
00
00

$1,517,134 00

T his statement embraces settlements up to May 1st, 1845.
Total receipts of the company, including proceeds of the State loan
and of the amount of existing indebtedness as stated in the report of
February 8th, 1844,................................................................................
Total expenditures prior to the assignment,............................................

$4,736,050 00
4,734,872 00

T his was the condition of the affairs of the company up to August, 1845,
when Mr. Lord resigned as president, and was succeeded by Jam es H a r­
per, Esq., of N ew York, as president pro tern. At the annual meeting o f
the stockholders, in Novefnber, the vacancy was filled by the election o f
Benjamin Loder, Esq., of N ew York, as president. T he removal of the
Statfe lien, the necessity of which had been felt in order to complete the
work, was the occasion of renewed efforts in its behalf. Accordingly, in
August, 1845, the books were again opened, and under such favorable cir­
cumstances, that the $3,000,000 of stock required to complete it, w as
promptly subscribed. T his sum will, doubtless, enable the company to
complete the road without issuing their bonds but for a limited amount.
T he length of the Erie Railroad, when completed, will be four hundred
and eighty miles. O f this, fifty miles, embracing the eastern division, is
already in full operation ; and six miles more, to Otisville, in Orange county,
will be completed in the course of a few weeks. T en miles of the road
is also completed at Dunkirk, w h ile ------ miles of the road is graded, and
a portion of the superstructure laid down between.
T he route traversed by the E rie Railroad lies through one of the best
agricultural districts in the United States. T his fact is of the greatest im­
portance to the success of this, as well as of all great railway enterprises ;
for railways, like cities, never attain to great magnitude, or become tho­
roughly prosperous and productive, only as they are contiguous to well set­
tled agricultural regions, and city and country are made to contribute al­
ternately to the advantage of each other, while the intercourse which it
thus begets, becomes a permanent source of revenue to our public works.
N ew York owes her importance as the first commercial city on the A tlan­
tic seaboard, principally to this fa c t; while older cities, unsupported to the
same extent with a large agricultural back country, are far behind her in
wealth, population, and resources. This feature of prosperity the N ew
York and E rie Railroad has united with it, perhaps, to a greater degree




The New York and Erie Railroad.

363

than any other improvement which has ever been projected in the United
States. By the terms of the charter, the route of the road is confined to
the “ southern tier of counties of N ew York,” which comprises Chatauque, Cattaraugus, Alleghany, Steuben, Broome, Delaware, Sullivan, O r­
ange, Rockland, and W estchester, together comprising a population of
nearly 350,000, and possessing an aggregate real estate valuation equal to
$40,000,000. These counties possess about the same amount of wealth
and population as the eleven counties upon the line of the E rie Canal, at
the period of its completion ; and must, therefore, supply as grea£ a local
trade as did that work in 1824, when it yielded $600,000 of tolls. In ad­
dition to this trade, however, the road will command nine counties in Penn­
sylvania, which border upon the N ew York line, the assessed real estate
valuation of which amounts to $15,608,676, and containing a population
of 142,146 ; so that, in fact, the E rie Railroad w'ill pass through an aggre­
gate population upon its line, of near 500,000 souls, possessing nearly
$50,000,000 of taxable property to contribute to its business, independent
of the western trade. If the E rie Canal, at a cost of $7,000,000, running
through a population of 394,631, gave $600,000 of toll in 1824, what
must the E rie Railroad derive from carrying passengers as well as freight,
through a population of 500,000, with the additional advantage of lateral
canals and railroads, which will intersect with it upon the route through
to the lakes 1 T he annual amount of revenue derived from these sources,
may safely be set down at $1,000,000 ; while the cost of the road to the
new subscribers will be but $7,350,000 ; and should the road give no
more income to be divided upon its capital than the canal did twenty years
ago, it will amount to 9 per cent upon its cost. But it must be remem­
bered that the E rie Railroad will combine the double advantage of the
E rie Canal and northern line of railways. The canal and railways to­
gether, produced an income to the State, for 1845, of nearly $3,000,000,
upon a cost of about $14,000,000. T he length of the canal and railroads
combined, is six hundred and forty-nine miles ; while the E rie road will
be but four hundred and eighty miles long, and its capacity equal for transit.
Assuming the statement of the productiveness of the northern railroads
and canals to be correct, we find the railroads to yield 9 per cent of their
cost, and declare dividends of from 6 to 8 per cent. T he E rie Railroad,
being but four hundred and eighty miles, will cost but about half what the
six hundred and forty-nine miles of northern canals and railroads cost ; if
it yields but one-fifth of what they yield from their combined advantages,
it will be a 10 per cent stock.
Th is, however, is but one view of the subject. T here are many other
important advantages united in this work, both from its position, and re­
sources of the country through which it will pass, which deserve consider­
ation. T he period at which we have made the comparison between the
E rie Railroad and the E rie Canal, the latter work had not derived any
advantage from having connected with it any of the lateral canals and
other public works which have since been constructed, and which contrib­
ute to render it so productive. In this particular, the railroad will vastly
surpass the canal, by connecting with many important public works al­
ready constructed. Besides terminating upon Lake E rie at a point where
the lake navigation usually opens from four to six weeks earlier, and re ­
maining open for the same period later than at Buffalo, it will intersect, at
Port Jarvis, in Orange county, with the D elaw are and Hudson Canal, and




The New York and E rie Railroad.

364

with the Delaware River one hundred miles from Philadelphia; at the
mouth of the Lackaw ana it may be made to connect with the coal fields
in Pennsylvania, at trifling expense, and the company to avail itself of ad ­
vantages in the transit of coal, which it has cost the Delaware and Hud­
son Canal Company $2,000,000, and upwards, to construct their works into
that region. The railway route being eighty miles nearer to N ew York
than the route traversed by the canal, besides being open at all seasons of
the year, should the interests of the two companies in the coal fields be
consolidated, it may be safely estimated that the coal transit alone upon the
E rie road may be made equal to one-third of the earnings of the road, as
the transportation of Orange county milk has already become upon the
eastern division ; neither of which items originally entered into the esti­
mate of the productiveness of the road. At the mouth of the Lackawana,
it will also intersect with the Honesdale and Carbondale Railroad, thence
twenty-five miles to the Wyoming valley ; at Nineveh, on the Susque­
hanna, with Unadilla, in Otsego county, and N ew Berlin, Sherman, N or­
wich, Oxford, and intermediate places ; yet these do not compare with the
great collateral avenues that will be brought to bear upon the road at, and
west of Binghampton. At the latter place, it will connect with the Che­
nango Canal, ninety miles in length, to Utica, running through one of the
best agricultural districts in the State, including the southern half of Courtlandt county. Extended to Owego, twenty-two miles, and it will intersect
with the Ithaca and Owego Railroad, forty miles ; at Elmira, with the
Chemung Canal, twenty miles in length, to the Seneca Lake, which re­
mains open during the w in te r; and thence westwardly, as it progresses
from Binghampton, commanding the trade and travel of large districts
north and south of the road, now dependent upon the several railroads and
lateral canals connected with the E rie Canal and the public works of Penn­
sylvania. As it approaches Dunkirk, it is intersected by the Buffalo and
Attica railroad on the north, and the railroad to E rie, forty miles south of
Dunkirk, on the lake.
Some idea of the great magnitude of the business of this road, when
completed, may be gathered from the amount of revenue and tonnage at
present derived from the eastern division of the road, the receipts of
which, during the past four years, have been as follows:—
Year.

1842..........................
1843,.........................
1844..........................
1845,........................

From freight.

$53,596
75,145
97,087
101,632

15
89
80
17

Passengers and boats.

$47,791
47,576
61,197
59,927

47
81
48
71

Total.

$101,587 62
122,722 70
158,285 28
161,559 88

In the years 1842 and 1843, only forty-six miles were in use, and in
1844 and 1845, fifty-seven miles. T he length of the road in operation
from the Hudson at Pierraont to Middletown, is fifty-three miles, and cost
$1,540,000, or $29,000 per mile ; the track of six feet T rail, fifty-six
pounds to the yard. T he pier is one mile long, and cost $220,000.
This gives a most extraordinary increase; the nett weight of pro­
duce delivered on the Hudson, having nearly doubled in two years.
W e have not the detail for the year just closed, but from freight received,
it appears the increase is 5 per cent. The results are very wonderful,
showing the development of Orange county, and the great increase of sup­
plies furnished to New York city by only fifty-three miles of the road. If
we assume that the business of 1842 was no more than previously came




The New York and E rie Railroad.

365

to the Iludsou by other means, the great increase since may fairly be at­
tributed to the superior facilities furnished by the road. This is particu­
larly the case in the articles of fresh meat, live stock, and milk. Almost
the whole supply of the latter article, amounting to six million of quarts,
brought by the road, is an addition to the former supply ; and if it has re­
duced the price of pure milk one cent per quart only, it. has made a diff e r­
ence of $60,000 per annum to the people of New York, or the interest on
the cost of the road. If these great results have been produced by fiftythree miles of the road, what may not be anticipated from the completion
of four hundred and fifty miles, connecting with the lakes ?
Tim e would fail us in enumerating the advantages which will grow out
of the construction of this great thoroughfare between the Atlantic sea­
board and the lakes. T he iruit and vegetables of W estchester and Rock­
land ; the milk, pork, beef, butter and cream of Orange ; the coal and iron
of Pennsylvania ; the valuable hemlock and pine lumber of the valleys of
the Delaware and Susquehanna; the red leather, lumber, and numerous
hydraulic privileges of Sullivan and Delaware ; the rich farming districts of
the Chemung, Tioga, and Susquehanna valleys ; the great resources of
Steuben, Alleghany, and Chatauque counties, in horses, cattle, sheep,
grain, and butter, are a few only of the advantages which may be de­
rived from the construction of this road. Nothing is wanting in many dis­
tricts in which it will pass but lime and gypsum to convert what is now,
from its secluded position, a vast wilderness, into one of the most thrifty
agricultural regions in the State. It will also furnish N ew York with
every species of fuel cheaper, as well as in greater abundance, than can
be supplied from any other region, in exchange for the productions of the
workshops of the East, and lead to the establishment of many new
branches of manufactures, the success of which mainly depends upon
cheap living and accessible markets. T he trade of Ohio, Michigan, Illi­
nois, Indiana, and other W estern States, which annually seek an outlet up­
on the W abash and E rie, the W elland and Ohio Canals, into Lake E rie,
we will not attempt to estimate. It is sufficient to say that its increasing
importance is more than commensurate with the capacity of all our public
works combined, the extent of which cannot fail to disappoint the most
sanguine expectations.
W e now come to another important branch of the subject, v iz .: the time
necessary to make the trip between the Atlantic and the Lakes. If, as
we think, we are prepared to show that it can be performed by the E rie
Railroad in one-third less time than by any other route, this work will
stand without a rival, for the following reasons, v iz .: 1st, for the dispatch,
cheapness, and directness of the route ; 2d, from its term inating at one of
the most desirable points upon the seaboard, while Buffalo and E rie will
be equally accessible as Dunkirk on the lake ; and, 3d, from the whole
being under the direction of one company. Thirty miles per hour is but
a reasonable speed ; and at this rate, the whole distance could be accom­
plished in fourteen hours, or in about the same space of time required to
perform the trip on the northern roads after arriving at Albany. The
grades, on most of the route, are favorable to attaining a high rate of
speed ; and when it is considered that in England the average rate is equal
to forty-five miles per hour through a densely settled country, this is not
an extravagant estimate. This line will also command a large amount of
revenue from the carrying of the mails, and other services in behalf of the




366

The Claims fo r French Spoliations.

government, from the uninterrupted communication which it will be ena­
bled to keep up, throughout the entire year, with the most distant States in
the Union. In properly locating this road upon the lake, we have a choice
of routes to the great West, which will cause them to adapt, in a great
measure, their improvements to ours ; while a temperate climate, and un­
rivalled seaports on the Atlantic, will be a great inducement to extend
other roads from beyond the lakes, in the same latitude, to the seaports on
the Pacific; and in which the E rie Railroad may be considered as the
first great link, which shall connect Europe, by an overland route, with
Asia, and which now requires a voyage to be performed around the world.
Such a work, and such efforts, are worthy the citizens of the Empire State
and Empire C ity ; and we trust it is not anticipating too much, when we
say we hope to see the N ew York and E rie Railroad completed to Dun­
kirk before the expiration of the next three years.
V. M. D.

Newton, Sussex County, New Jersey, July 20th, 1846.

Art. IV— THE CLADIS FOR FRENCH SPOLIATIONS.
PRESIDENT POLK’S VETO UPON THE BILL OF INDEMNITY FOR FRENCH SPOLIATIONS.

T h e claims for French spoliations, entitled “ An act to provide for the
ascertainment and satisfaction of claims of American citizens for spolia­
tions committed by the F rench prior to the 31st July, 1801,” are little
known to the present generation. T hey occurred so long since, that most
of the active merchants of the present time are unacquainted with them,
in detail. T he president, in his veto, has omitted to state the only strong
ground upon which these claims are founded. W e therefore propose to
give a short statement of the claims, and to review some of his alleged
reasons for the veto.
T hese claims amount to $14,000,000. T he captures upon which they
are founded, w ere made in the early period of the French revolution, pre­
vious to July, 1801. This amount has been transmitted to the D epartment
of State, as a claim against the French nation for indemnity. Many hun­
dred American vessels were captured by French national ships, or French
privateers, under orders of the French government, without the shadow of
a cause, and sold ; the proceeds were placed in the treasury, or divided
among the captors. At that period, the mercantile capital of the United
States was limited, and the disaster fell with the force of a tornado on its
commerce, particularly on that of N ew England. An instance may show
the disastrous effect. A single merchant of Gloucester, Massachusetts,
lost twenty-three vessels with their cargoes, which were captured and sold
under these decrees. H e was, of course, ruined. His descendants now
w ish some remuneration, even at a late day. Many instances, similar, oc­
curred in Boston, N ew York, Philadelphia, Baltimore, and Charleston.
During the administration of the elder Adams, these claims were the
subject of discussion with the French Republic. There was no settlement,
as the Senate refused to relinquish them. But after the accession of Mr.
Jefferson to the presidency, the negotiation was renewed, and they were
again the subject of discussion. An article was added to the treaty with
France, which Mr. Jefferson made with Napoleon Bonaparte, in July^




The Claims f o r French Spoliations.

367

1801, as follows : “ T hat by the retrenchment of the second article, the
two States renounce their respective pretensions, which were the object
of it.” The second article related to the treaty of the United States with
France, which guaranteed to France the possession of her W est India
Islands for ever, and our claims for French spoliations. So that these
claims w ere surrendered to avoid the fulfilment of a treaty made in the
revolutionary war, guaranteeing to France her W est India possessions.
Many of these islands were then in the possession of G reat Britain, and
some are now. H ere was the consideration which Mr. Polk has declined
to notice. It is the only consideration, and worth more than the fourteen
millions to the United States. It saved the country from a connection
with revolutionary France, and enabled the people to pursue a most pro­
fitable neutral commerce, when all Europe was engaged in war.
In an affair of such great consideration, we do not ask the public to re­
ly on the statement of an individual. W e add, in confirmation, an extract
from a “ history of the administration of Washington and Adams,” by
George Gibbs, compiled from the state papers of Oliver Wolcott, who was
Secretary of the Treasury at the time this treaty was made, and during
the administration of G eneral W ashington.
“ The convention which was brought to the United States by General Danic,
was submitted to the Senate on the fifteenth of December, 1801, and subsequently
the instructions were sent at its request. It was not until the third of February,
that their consent was given, and then only upon condition that the second article,
reserving the former treaties for future negotiation, should be expunged, and that
its duration should be limited to eight years. On Mr. Jefferson’s coming into of­
fice, the convention was sent forward, and the ratification, in its modified shape,
was agreed to by Bonaparte in July following, but with the further provision:
1That by this retrenchment the two States renounce their respective pretensions,
which were the object of the second article.’ The ratifications were then ex­
changed between Mr. Murray and the French commissioners; the convention
again submitted to the Senate at the succeeding Congress, and finally promul­
gated on the twenty-first of December, 1801.
“ The proviso annexed by Bonaparte, and agreed to by Mr. Jefferson and the
Senate, was a formal extinction even of a right to demand satisfaction for the in­
juries inflicted upon us. It was a purchase of freedom from future molestation
by the sacrifice of all that had been unjustly taken away. It added the last drop
to the cup of national humiliation.
“ Viewing the release of these claims, however, in the light in which some
have seen fit to place them, as an exchange for the abandonment, on the part of
France, of the stipulations in her favor, by former treaties; treaties which she
had violated, and which had been annulled ; an important advantage, it must be
admitted, was gained by the United States in her discharge from the guarantee
of the Frenfh possessions in America. It was, according to this doctrine, a bar­
ter for a great public consideration, of the just demands of individual citizens up­
on France, to the amount of fifteen millions of dollars; demands which the United
States had always insisted upon, and which had been even recognized by France
herself.
“ It would have been supposed that justice, good faith, the plain words of the
constitution itself, would have required compensation for the private property thus,
by the sovereign act of the government, appropriated to public uses; that the gov­
ernment of the United States had thus assumed the payment, and that a nation
pretending to honesty, would have provided for its citizens. Not a dollar of them
has yet been paid.”—Vol. 2, p. 464.
T he first reason given by Mr. Polk for the veto, is, “ that the claims
have been, from time to time, before Congress since 1802, and until now,




368

The Claims f o r French Spoliations.

have never received the sanction of both Houses of Congress.” In an­
swer to this, twenty-two committees of the Houses of Congress, out of
twenty-five, have reported in their favor, and a bill of indemnity has passed
the Senate three times. For some years these claims were not zealously
pressed, for the plain reason that we had just assumed the attitude of an
independent nation, and our commerce was depredated upon by other
powers at the same time. Our government had not then received large
sums from foreign nations for depredations on commerce. Since that
time, it has received many millions from England, five millions from France,
two millions from Naples, and considerable sums from Mexico, Denmark,
and Spain. These sums w ere paid for claims of the same description as
those now presented against France. Now the fact is established, that if
France has paid five millions for spoliations on our commerce since that
time, she might have paid the fourteen millions if our government had not
exonerated her by treaty. In any event, our government had no right to
give up individual claims upon France, to annul the treaty of guarantee of
her possessions.
T he second reason given by Mr. Polk, is, “ that Mr. Jefferson, who was
fully conversant with the early dissensions between the United States and
Fiance, and out of which these claims arise, in his message to Congress
said nothing about it.” This is true, and it is equally true that he nego­
tiated the erasure of the second article of the treaty, by which these claim ­
ants were deprived of all redress, to exonerate the United States from the
guarantee, forever, of her American possessions to France. But Mr. Jef­
ferson, though he did not speak of them in his messages to Congress, has
never been quoted as disapproving a provision for them. H is Secretary
of State, James Madison, acknowledged the claims, and directed an offi­
cial letter to Mr. Pinckney, our minister to Spain, dated 4th February,
1804, from which we make the following extract. In this letter, Mr.
Madison replies to some frivolous pretexts used by Spain, based upon our
previous release of the claims on France.
“ W e claim against her, not against France. In releasing France, therefore,
we have not released her. The claims from which France was released, were
admitted by France, and the release was for a valuable consideration, in a corres­
ponding release of the United States from certain claims on them.”
In addition to the above, an offer was made to pay France a large sum
of money to annul the treaty of guarantee of 1778, which was rejected by
the F rench government as wholly inadequate.
An equally distinguished man from Virginia, Judge Marshall, who acted
as American minister at the very period of these difficulties, gaVe his opin­
ion, when C hief Justice of the Supreme Court of the United States, that
these claims were just, and ought to be paid. Indeed, a letter containing
his opinion, was shown in the House of Representatives during the
discussion.
T he third reason suggested, is, “ that there is no surplus in the treasury,
and we are engaged in a foreign w ar.” This is true ; and the bill was
passed, to meet the views of the government at this time, by land scrips,
receivable in about three years from this time. But another argument is
used by Mr. Polk, that this land scrip is a mortgage upon the lands, and
will retard the prosperity of the new States. Most of the lands east of the
Mississippi were surrendered to the United States by the Atlantic States,
for the purpose of paying the debts of the revolutionary war. T he sur-




Manufacturing Industry o f the State o f New York.

369

render was made without consideration, and the lands were pledged for
these debts. This is, indirectly, one of these debts, as we could not, in
any other manner, cancel the treaty with France for the guarantee of her
possessions in the W est Indies, than by a surrender of these claims.
T he fourth reason suggested, is, “ that if these claims are well found­
ed, it would be unjust to the claimants to repudiate any part of them.”
This is not denied ; but he well knew that the interest is equally as much
due, in equity, as the principal; and these sums together would swell the
claims to such an amount that no Congress would ever vote to pay them.
It is, therefore, a mockery of the misfortunes of those who are suffering
from the injustice of the government.
The last reason suggested, is, “ that it is inexpedient.” By the consti­
tution, the President is to exercise the executive power, and the Senate
and House of Representatives to exercise the power of raising and disburs­
ing the revenue. It is contrary to the theory and spirit of the constitution,
for the executive to counteract the legitimate exercise of this power. It
is rarely done except for constitutional objections. To these nothing can
be said. But the exercise of the veto, in a case of revenue or its disburse­
ment, was never even favorably received by Congress. But, in this case,
it is the most ungracious, fruitless, and unjust exercise of the veto power
since the adoption of the constitution ; for this plain reason, that Congress,
after an appeal for forty-five years, have granted to the descendants of
these claimants, as a boon, one-third of the original claim, when a ma­
jority of them had been utterly ruined by the refusal of government to re­
dress their w rongs; and this portion of the sum due is vetoed by Presi­
dent Polk.
It may be proper to state one of the leading arguments by which these
claims have been so often defeated, and so long delayed. It is, that these
claims, by the bankruptcy and ruin of those who held them, have been
sold for a trifle, or given away, being considered of little value. Like the
paper money of the revolution, these claims were almost worthless, and
the real sufferers would derive little or no benefit from any sum which
Congress might appropriate. W ith a view to meet this objection, a sec­
tion was added to the bill, that in case of a transfer of the original claim,
the purchaser should only be entitled to the sum he actually paid, with the
interest. The majority in the House of Representatives was not large,
and this probably decided the question. As the bill now stands, if it had
not been vetoed by the President, it would have afforded a great relief to
those families which have not recovered from the calamity caused by
these captures.

Art. Y.— MANUFACTURING INDUSTRY OF THE STATE OF NEW YORK.
NUMBER ONE.

At a period when the true policy of the country, in regard to the
sources of national prosperity and national independence, is an unsettled
question, whatever contributes to enlighten the public mind or enlarge the
boundaries of free discussion must necessarily be regarded as a benefit
conferred on the community at large. In the absence of testimony, it is
impossible that truth should be arrived at, or a just estimate be formed of
what is due to the several interests concerned. This is especially true of

von. xv.— no. iv.




24

370

Manufacturing Industry o f the State o f New York.

all discussions which have transpired in relation to the leading interests of
agriculture, manufactures, and commerce. W hile the latter has enjoyed
the full benefit of publicity under a system of law which requires that
every act and proceeding shall come within the cognizance of the cus­
toms, the former are brought to our notice at intervals by the returns of a
census whose accuracy may, with the greatest propriety, be called in
question. The consequence is, these important interests are seldom, if
ever, fairly represented in popular discussion, or in the halls of legislation.
Familiarised, by their connection with the concerns of every-day life, they
lack that charm of novelty which invests the more distant operations of
commerce. T hey supply us only with the necessaries of life— the luxu­
ries are imported from abroad; and hence we are insensibly persuaded
to believe that these interests, apparently so unimportant, are fully quali­
fied to battle in their own defence.
W ith no prepossession in favor of any particular interest or class, but
entertaming a sincere desire that justice should be duly meted to all, we
propose to issue a series of accurate notices and statistics, designed to il­
lustrate the history and actual condition of the manufacturing industry of
the State of N ew York. T he information we shall communicate, will be
the result entirely of personal observation and inquiry; and, when com­
plete, must form the most authentic record which has ever been brought
to the notice of the public.
To enable us to carry out our intentions, which w ill naturally subject
us to considerable expense, we shall expect that those who are directly
interested in the cause of domestic industry will lend their aid in furnish­
ing the necessary materials. In connection with this subject, notices will
occasionally be given, with a view of elucidating the history and com­
mercial prosperity of various cities and villages throughout the State. The
cause of education will likewise be occasionally glanced a t ; and nothing
omitted which may contribute to the interest or utility of the undertaking.
MANUFACTURES OF DUTCHESS COUNTY.
M ATTEAWAN---- GLENHAM---- ROCKY GLENN----H IG H LA N D M ILLS, ET C .

Those who have sailed up the Hudson River cannot fail to have noticed
the grandeur of the scenery around that beautiful expansion of its waters
which lies directly opposite the village of Newburgh. If they have land­
ed at that place, and cast a glance at the chain of mountains which bound
the horizon on the east, and overlook the flourishing settlement of Fishkill landing, they have scarcely dreamed 'that the base of that mountain
range was watered by a stream which holds its course between bold and
rugged shores, and gives employment to a large and industrious population.
Yet here is the valley of Fishkill Creek, a small, though important tribu­
tary of the Hudson, whose shores, a few years since, were the resort of
the Indian, and the haunt of the beaver and otter, both of which have now
disappeared before the progress of industry and civilization. It was in
allusion to the excellent quality of the furs procured in this region, that the
aborigines applied the name of Mat-te-a-wan, or “ good fur,” to the par­
ticular locality we are about to describe.
Matteawan manufacturing village is situated on Fishkill Creek, about
one mile and a half from the steamboat ferry which plies between the
landing of Fishkill and the village of Newburgh. Having ascended the
acclivity that overlooks the Hudson, the approach to it is through a beau­
tiful avenue, constructed at the expense of the company, in order to avoid




Manufacturing Industry o f the State o f New York.

371

the circuitousness of the ancient route. As you enter the village, the
first object that arrests the attention is a mill of venerable aspect, which
was probably the earliest attempt to convert the water-power at this place
to profitable account. The next instant, your ears are saluted by the
noise of the loom and the spindle; and as the eye wanders instinctively
over the long vista of tenements which lie on either side of the stream,
you cannot avoid paying an involuntary tribute to the air of comfort and
neatness which seem everywhere to prevail. As you advance a short
distance farther, the next object that arrests the attention is the original
cotton factory, which is 80 feet by 40, three stories high, and surmounted
by a belfry, whose “ brazen tongue ” gives warning of the hours devoted
to the pursuits of industry. This building was erected in 1814, by the
Messrs. Peter A. Schenck, Peter H . Schenck, and H enry Dowling, the
latter of whom eventually resigned his interest to his associates. It was
the only building appropriated to manufacturing purposes at this place, un­
til 1822, when an additional structure, 138 feet by 72, and also three sto­
ries high, was put up by the Messrs. Schenck, who associated with them
Mr. William B. Leonard, so long and favorably known as the efficient
agent of the company. In 1832, a machine shop, 150 feet by 30, was
erected, which, together with the foundry, employs about 2 0 0 hands, and
produces annually, in cotton machinery, sugar-mills, steam-engines, &c.,
to the value of $262,462. T he company have also a building, 40 feet by
60, a portion of which is appropriated to storage and the transaction of
business, and the balance to the manufacture of cards by machinery. The
cotton department runs 6 ,0 0 0 spindles, and gives employment to 300
operatives, including men, women, and children, who turn out annually
about 1,296,000 yards of Canton flannels, fustians, m ariners’ stripes,
pantaloon stuffs, &c., valued at $173,692. T he entire amount of capital
invested, is about $350,000. T he average number of hours devoted to
labor, are 10 in the machine shop, and 11 hours 35 minutes in the cotton
factory. T he entire population, directly or indirectly dependent on the
company, may be estimated at 1,700. T he tenements which they occupy
number about 1 0 0 , and are distributed over an area of as many acres.
T he regimen of the establishment is strict, without being severe ; moral,
without bordering on intolerance. E very facility is afforded to the cause
of education and religion, and habits of industry and sobriety are carefully
inculcated. T he following are the
Rules and Regulations o f the Matteawan Company.
No person will be admitted into the yard during working hours, except
on business, without permission of an agent. At all other times, the
watchmen will be invested with full control.
T he work bell will be rung three minutes, and tolled five m inutes; at
the expiration of which, every person is expected to be at their work, and
every entrance closed, except through the office, which will at all times
be open during the working hours of the factory.
No person employed in the manufacturing departments can be permitted
to leave their work without permission from their overseer. All others
employed in and about the factory are requested to give notice to the
agent or superintendent, if they wish to be absent from their work.
No talking can be permitted among the hands in any of the working
departments, except on subjects relating to their work.




372

Manufacturing Industry o f the Slate o f New York.

No spirituous liquors, smoking, or any kind of' amusements, will be al­
lowed in the workshops or yards.
Those who take jobs will lie considered as overseers of the persons
employed by them, and subject to these rules.
Should there exist among any of the persons employed, an idea of op­
pression on the part of the company, they are requested to make the same
known in an honorable manner, that such grievances, if really existing,
may he promptly considered.
T o convince the enemies of domestic manufactures that such establish­
ment- are not “ sinks of vice and immorality,” but, on the contrary, nur­
series of morality, industry, and intelligence, a strictly moral conduct is re ­
quired of every one. Self respect, it is presumed, will induce every one
to be as constant in attendance on some place of divine worship as circums unices will permit. Intemperance, or any gross impropriety of con­
duct. will cause an immediate discharge of the individual.
T he agent and other members of the company are desirous of cultiva­
ting the most friendly feeling with the workmen in the establishment, b e­
lieving they are to rise or fall together. Therefore, to promote the in­
tern- trid harmony of all, it is necessary there should be a strict observ­
ance of these rules and regulations.
subjoin the following statement of domestic products consumed by
the Watteawan Company of Dutchess county, for the year 1843, in order
that i e curious may see to w hat extent the agriculturist is really benefit­
ed I the manufacturer. Agreeably to this exhibit, we find that this sin­
gle company expended no less than $74,684 85 for the benefit of the agriculti , interests, and $120 376 for articles of native growth, but not the
prodn i of that county. During the same period, the disbursement for
wag* - alone, amounted to the sum of $134,434 80, making an aggregate
expi i.‘!iture for the benefit of domestic industry, of $329,495 65.
S.

.bush.

Turn
Onis ;
Bed
Oats,
Pot;:!
Corn,
Bud
Flour,
Port,...

Quantity.
365
260
200

o a t , ..................................

A p j* '

EgeCal.-I
Wo.
Lun*
Hav,
Lan
Butt.
Che.
Catt!
Shot
Calv

1843
Amount.
$69 35
130 00
100 00
2,000 00
3,000 0(1
1,500 00
5,616 00
17,500 00
3,000 00
600 00
520 00
62 50
3,944 00
9,000 00
2,250 00
900 00
6,760 00
1,320 00

•DLTURAL PRODUCTS CONSUMED -BY TI E MATTEAW'AN MANUFACTURING CO., IN

A<
A rtii

...No.

..................... . h e a d s

.cords
...lbs.
.
.h e a d

H ogr

Mou!- • , sand,................... .loads
Fire- , and sand,............
7 tal agricultural products, ......




8,000
12,000
.1,(100
3.000
3,500
300
600
62.000
2.500
986
300,000
250
15.000
52.000
24,000
223
1,386
529
60
2,000
300

P r ic e .

$00 19
50
50
25
25
50
00
00
00
10
02*
4 00
30
9 00
06
13
05J

5
10
1
per doz.

11,813 00
4,000 00
600 00
$74,684 85

Manufacturing Industry o f the State o f New York.

373

SUNDRY DOMESTIC PRODUCTS CONSUMED BY THE MATTEAWAN MANUFACTURING CO., IN

Quantity.
10
264
624
25
too
1,800
5,000
1,000
200
3,000
7.500
60,000
3,000
416,000

1843.

Price.
$180 00
100 00
30 00
300 00
4 50
4 00
10
40
10 00
80
30
07
10
10

Amount.
$1,800 00
26,400 00
18,720 00
7,500 00
450 00
7,200 00
500 00
400 00
2,000 00
2,400 00
2,250 00
4,200 00
300 00
41,600 00
2,896 00
1,760 00

Total sundry domestic products,.............. .............................

$120,376 00

Articles.
Iron wire,...................
Bar iron,.....................
Pig iron,......................
Steel,............................
Nails,..........................
Anthracite coal,..........
Charcoal,....................
Salt,.............................
Fish,........................................ bbis.
Spenn oil,...................
Molasses,...................
Brown sugar,..............
White
“ ....... ......
C otton,.......................
Sole Leather,..............
Calf-skins,...................

Taking such articles only as enter into the consumption of this estab­
lishment, for the basis of our calculation, v iz .: wheat, corn, oats, buck­
wheat, and potatoes, we shall find, on comparison with the preceding ta­
ble, that the balance is considerably in favor of the manufacturer.
By returns of the last census, the annual product of the above-mentioned
articles in the county of Dutchess, amounted to 2,923,819 bushels, while
the consumption of the Matteawan Company was about 43,500. Allow­
ing then 1,923,819, for the probable export of agricultural products fiom
the county per year, we shall find that this single establishment, with a
population of about 1,700 dependent on manufactures, or only one-thirtieth
of the entire population of the county, consumed a twenty-third part of
the whole amount of agricultural products retained for the benefit of the
home market.
L et us next ascertain what becomes of the two-thirds which is exported.
Is it shipped to a foreign market ? T he entire exports of the country in
these articles, amount to no more than $ 14,000,000 ; and if this sum be
divided by the whole number of counties in the Union, whose exports en.
ter into the general aggregate, it will leave but a trifling sum in favor
of the single county of Dutchess. W hat, then, becomes of the surplus
exported ? Do the commercial interests consume it 1 T hey form but a
tithe of the 360,000 inhabitants of the city of N ew York. W here has it
gone to ? W hy, a certain proportion h a ^ gone back again for consump­
tion among the producers at an enhanced price, and the balance is con­
sumed by the mechanics and artisans who make up the age 'gate popula­
tion of the city. Thus, we see, the producer is thrown back again upon
his home market, and, in a season of dearth or scarcity, may unwittingly
tax himself, by becoming the purchaser of his own products. H e has
doubtless pocketed the proceeds of his labor, but has probably received no
more than he would have done had he assisted in building up a market at
home. H e has benefited internal commerce, it is true, and provided em ­
ployment for many industrious individuals whom the want of it at home
may have compelled to embark in new enterprises ; but he has likewise
enhanced the value of provisions, and perhaps in a ratio disproportioned
to the benefits he has conferred on national industry.
In pursuance of this inquiry, it may not be amiss to introduce another




374

Manufacturing Industry o f the State o f New York.

item of expenditure, which, although it does not go directly into the pock­
ets of the agriculturist, contributes, nevertheless, to enhance the value o f
his estate, and relieve him, in some measure, of the public burdens. W e
allude to the amount of taxes paid by the company and the persons in their
employ, for a period of 17 years, commencing with 1828; an exhibit of
which is herewith annexed :—
TAXES PAID BY THE MATT KAWAN MANUFACTURING COMPANY, FROM

1828 TO 1844.

Years.

Amount.

Years.

1828,..................................
1829,...................................
1830....................................
1831,
.........................
1832,
........................
1833,
.........................
1834,
.........................
1835, (road, alone,)..........
183G,..................................
1837,........................
1838,...................................

$74
140
108
244
478

80
40
00
33
07

1839,........................................
1840,........................................
1841,.........................................
1842,.........................................
18-13,.........................................
1844,.........................................

461
286
768
1,149

96
88
59
37

Amount.

.$1,082
1,025
1,086
1,080
786
656

88
99
75
25
36
50

Taxes paid by com pany,.. . $11,029 06
By persons in their employ,.
22,000 12
Total,............................ $33,029 18

From the preceding exhibit, it appears that 100 acres of land, which
originally yielded the town a revenue of only $60 per year, has advanced
more than thirty-fold in value by reason of improvement, and contributed
an average of nearly $ 2 ,0 0 0 per annum towards the town assessments, or,
what is equivalent to it, has paid the tax of 35 cultivated farms of 100
acres each ; thus proving conclusively that manufacturing establishments
are more beneficial to the country, in point of revenue, than the pursuits
of agriculture.
GLENHAM WOOLLEN FACTORY.

This establishment is also located on Fishkill Creek, about two miles
above Matteawan, on the high road to Fishkill village. T he manufac­
turing department is confined chiefly to one building, erected in 1823, by
Mr. Peter H . Schenck, which subsequently became vested in a joint stock
company, consisting of Messrs. P. II. Schenck, G. E . Howland, S. S.
Howland, John Jacob Astor, Philip Hone, and others, who have a capital
invested amounting to $140,000. T he machinery now in use comprises
9 sets of cards, about 2,000 spindles, 32 broad looms, and 15 pair of full­
ing stocks, and gives employment, on an average, to 136 persons, in­
cluding men, women, and children. In the immediate vicinity, are about
40 tenements for the use of tlfc operatives, and those who are indirectly
dependent on the company.
During the year 1845, the quantity of raw material consumed was
190,000 lbs. of fleece wool, of the value of $70,000, which yielded 5,000
pieces, or 80,000 yards of broadcloths of sundry colors, and varying from
$ 1 50 to $4 per yard. From the commencement of this establishment,
the annual value manufactured has averaged $100,000. Eleven hours
per day are appropriated to la b o r; and the amount of wages per week
averages about $5, which is paid in cash at the expiration of every
month.
The following schedule, compiled from the company’s books, will ex­
hibit the average amount of agricultural and other products consumed per
y e a r :—




Manufacturing Industry o f the State o f New York.

375

AGRICULTURAL AND OTHER PRODUCTS CONSUMED BY THE GLENHAM COMPANY, PER YEAR.

Articles.

American fleece wool,......................lbs.
Sperm oil,....................................... galls.
Olive oil,.................................................
Soap,...................................................lbs.
Indigo,......................................... ..........
Dye-stuffs, viz: Logwood, alum, cop­
peras, madder, sumac, &c.,..............
Teazles,...................................................
Pelts, .......................................................
W ood,.............................................cords
Anthracite coal,............................... tons
Nova Scotia do.,......................chaldrons
Sundries,.................................................
Total,...............................................

Quantity.
173,000
770
350
11,174
6,080

Amount.
$73,800
844
4,000
1,190
10,000

75,600
22,500
143
270
50

2,500
1,500
584
586
1,640
450
4,500

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

$101,594

Having already attempted to show the dependence which subsists be­
tween the agricultural and manufacturing interests in connection with the
manufacture of cotton goods, it may not be amiss to exhibit the actual
amount of agricultural capital, which appears from the preceding state­
ment to be brought into requisition by the woollen manufacture :—
1. To produce 173,000 lbs. of wool, would require the fleeces of 66,000
sheep; which, if valued at $ 2 per head, would amount to.......................... $132,000
2. Allowing three sheep to an acre, the quantity of land necessary to sustain
them would be 22,000 acres; giving a sum total, at $50 per acre, of....... 1,232,000
3. If we estimate the probable amount of beef, pork, flour, butter, milk,
eggs, cheese, &c., consumed per week by the operatives, and those imme­
diately dependent on them, at $200, we shall find that these articles alone
bring into requisition no less than 2,600 acres of land, valued at $70 per
acre,......................................................................................................................
182,000
4. The investment of agricultural capital required to furnish teazles, fire­
wood, coal, &c., would amount to....................................................................
58,000
Total agricultural capital,..........................................................................$1,604,000
ROCKY GLENN COTTON FACTORY.

T he Rocky Glenn Manufacturing Company commenced erecting their
factory in 1836, but suspended operations for a time in 1837, and pro­
ceeded to complete in 1838. In 1840, the original structure, which was
150 feet by 50, was destroyed by fire, but rebuilt the ensuing year. This
establishment runs about 6 ,0 0 0 spindles, which give employment to 100
operatives. The amount of cotton consumed per year, may be estimated
at 208,000 lbs., yielding 1,144,000 yards of printing cloths, valued at
$71,500.
H IG H LA N D MILLS.

T he Highland Mills, located at the mouth of Fishkill Creek, consist of
two buildings, which were erected in 1840 by the late Robert T . Byrnes,
one of which is now occupied by Messrs. Servoss and Pine, and the other
by Messrs. Crosby and Brown, for the manufacture of cotton yarns. Al­
though but a short time lias elapsed since the conversion of these mills to
manufacturing purposes, the enterprise of the present proprietors has been
rewarded by unexpected success. They furnish employment to about 100
hands, and run about 4,000 spindles ; consuming, on an average, about
1,000 bales of cotton per annum, and manufacturing 300,000 lbs. of yarn.
About a mile farther north, Messrs. Rankin and Freeland are erecting




376

Profits o f Manufacturing and Cotton-Growing.

a cotton factory with 4,000 spindles, which is expected to go into opera­
tion the ensuing spring. W e understand they have extensive w ater­
power to let.
SUMMARY VIEW OF MANUFACTURING ESTABLISHMENTS ON EISHKILL CREEK.

Name.

No. of
build.

When
erec’d.

i
i
i

1833
1823
1838
1840

Matteawan Manufac. Co.:
Cot. Factory, j

No. of
spindles.

H’nds
emp.

$350,000

G,000

140,000
150,000

2,000
6.000
4,000

300
200
136

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

18,000

1814
1832

Mach, shop,
Glenham Wool. Factory,
Rocky Glenn Cot. Fac’y,
Highland Mills,..............

3
7

Dimensions.

80 by 40
138 by 72
150 by 30
150 by 50

Capital.

100
100

836

SUMMARY VIEW— CONTINUED.

Name.

Matteawan Manufac. Co.
C ot Fact’y,* )
Mach. shop,+ £
Glenham Wool. Fact’y,f.
Rocky Glenn Cot. Fac’y,§
Highland Mills,||.............

Wages paid H’rs labor Mat’ls con- Qua n. man.
per year, per day. sum’d y ’ly. per year.

$134,434
26,000

11.35
10.00
11.00

12.00

Annual val.
manufac’d.

aiTOAQR 1,296,000 yds. $173,692
&AJd’4^
................
262,462
70,000
80,000
220,000
20,800 1,144,000
71,500
1,000 bis. 300,000 lbs.
35,000

(*) Articles manufactured consist of Canton Flannels, Mariners’ Stripes, Fustians, &c.
(t) Cotton Machinery and Steam-Engines, (t) Broadcloths. (§) Printing cloths.
(||) Cotton yarns.'

Art. VI,— PROFITS OF MANUFACTURING AND COTTON-GROWING.*
PR O FITS OF M ANUFACTURERS AND COTTON-GROW ERS COMPARED.

M r . W a l k e r says, “ The profit of capital invested in manufactures,
is augmented by the protective tariff,” meaning that of 1842. T his is
doubtless true. But he maintains that it was done at the expense of the
community, of laborers, and of the poor. H e has applied to the tariff of
1842 the epithets “ unjust,” “ unequal,” “ exorbitant,” “ oppressive,”
meaning that the manufacturers had all the benefit, and other classes, es­
pecially the poor, all the wrong.
So serious an allegation as this, involving so important a question, and
emanating from such a quarter, should have been substantiated. A sser­
tion is at least as good on one side as the other, and when, in replication,
it happens to correspond with known facts, it is simply a reference to the
most valid evidence— is evidence. It will not be denied that more capital
has been sunk, entirely and forever lost to the original stockholders, in
starting manufactories in the United States, than in any other business
whatsoever. Nearly all that was thus invested during the w ar of 1812,
and under the tariff of 1816, down to 1824, was sacrificed ; and the
* This article is from the manuscript of Mr. Calvin Colton’s work, now in press, on the
“ Rights of Ijibar.” It forms a part of the eleventh chapter, which is devoted to a con­
sideration of Mr. Secretary W alker’s Report of December, 1845. It seems almost un­
necessary to say in this place that the Editor of the Merchants’ Magazine does not hold
himself responsible for the views contained in any article published under the name o f
the author. By this, he would not be considered as either assenting or dissenting front
the positions of the writer of the present article.




Profits o f Manufacturing and Cotton-Growing.

377

amount was very great. Hundreds, not to say thousands of families, who
were rich before their all was thus hazarded here, were forever ruined by
these misfortunes. It is not less true that, in the history of manufacturing
in the United States, down to this time, frequent failures, some for great
amounts, have been constantly taking place. On these ruins, others fol­
lowing, and taking the same establishments, at a large discount on the
cost— 50 or 75 per cent, sometimes more, sometimes less— have, for a sea­
son, been able to make large dividends, not on the first cost, but on the
last. W hat was their good luck, had been the ruin of others. In the
same manner, handsome profits have sometimes been realized by the first
establishments in a new business, till other capital, waiting for employ­
ment, rushed into it, and reduced the profits to an unsatisfactory level, as
is generally the result in such cases, till one reaction after another brings
it to a moderate and fair business— all for the benefit of labor, as before
shown.
The Hon. Mr. Evans, of Maine, whose scrupulosity and accuracy of
statement in such matters, are not questioned by his opponents in the Sen­
ate of the United States, or elsewhere— much less are his statements often
disturbed— replied to Mr. M’Duffie, of South Carolina, on this point, in a
speech delivered January 23d, 1844. His conclusion was : “ I venture to
affirm that the profits of capital invested in cotton manufactures, [these are
the most profitable,] from the commencement to this time, have not aver­
aged 6 per cent.” Mr. M’Duffie asked, “ W hat are they now ?” “ I can­
not certainly inform the Senator,” said Mr. Evans ; “ but I am assured
that, altogether, they will not average 12 per cent.” It has been since
proved that they did not average so much.
T he Lowell factories have, undoubtedly, done better than the average
of cotton mills in the country. T he Hon. N athan Appleton states that, o f
the nine companies there, five made no dividend during the year 1842,
and that the average of the dividends of all the Lowell companies, for the
years 1842, 1843, 1844, and 1845, or the nett profits, was 1 0 j per cent
per annum. These statements are, of course, open to verification ; and
if they could be proved incorrect, it would have been done, as there was
no w ant of disposition.
“ I am very sure,” said Mr. Evans, “ that in other branches of manufacture
much less [profit] still has been derived. How is it with the woollens ? The
profits there, we know, have been very low ; great losses have been sustained ;
and the stock has been, generally, far under par. In the iron business, the sena­
tor from Pennsylvania, [Mr. Buchanan,] has told us that many of the furnaces
have ceased to operate. . . With plain and conclusive facts like these,” said Mr.
Evans, “ with what justice or propriety can the act of 1842 be stigmatised as an
act to legalize plunder and oppression, [so Mr. M’Duffie called it,] or the policy,
as a policy to enrich the manufacturer and capitalist at the expense of the laborer ?
These are charges, sir, easily made ; but they are not sustained, and cannot be
sustained by any proof drawn from experience, or the practical operation of the
system.”
But w hat are the profits of the cotton-growers ? In Mr. Clay’s reply to
G eneral Hayne, in February, 1832, he said :—
“ The cotton-planters of the Valley of the Mississippi, with whom I am ac­
quainted, generally expend about one-third of their incomo in the support of their
families and plantations. On this subject, I hold in my hand a statement from
a friend of mine, of great accuracy, and a member of the Senate. According to
this statement, in a crop of $ 10,060 , the expenses m ay fluctuate between ljj>2,800




378

Profits o f Manufacturing and Cotton-Growing.

and $3,200.” Again: “ If cotton-planting is less profitable than it was, that is
the result of increased production. But I believe it to be still the most profitable
investment of capital of any branch of business in the United States; and if a
committee were raised with power to send for persons and papers, I take it upon
myself to say, that such would be the result of the inquiry. In Kentucky, I know
many individuals who have their cotton plantations below, and retain their resi­
dence in that State, where they remain during the sickly season; and they are all,
I believe, without exception, doing well. Others, tempted by their success, are
constantly engaging in the business, while scarcely any come from the cotton re­
gion to engage in Western agriculture. A friend now in my eye, a member of
this body, upon a capital of less than $70,000 invested in a plantation and slaves,
made, the year before last, $16,000. A member of the other House, I understand,
who, without removing himself, sent some of his slaves to Mississippi, made, last
year, about 20 per cent. Two friends of mine, in the latter State, whose annual
income is from $30,000 to $60,000, being desirous to curtail their business, have
offered [cotton] estates for sale, which they are ready to show, by regular vouch­
ers of receipts and disbursements, yield 18 per cent per annum. One of my most
opulent acquaintances, in the county adjoining that in which I reside, having mar­
ried in Georgia, has derived a large portion of his wealth from a cotton estate
there situated.”
So far as this evidence goes— and it is large and comprehensive— it
proves a great d e a l; proves what agrees with common report and obser­
vation, viz : that cotton-planting has been one of the most lucrative, mon­
ey-making pursuits in the United States ; that fortunes have been made
quick and easy by i t ; that it has been uniformly profitable ; that vast es­
tates have been amassed in this calling; that men have grown so suddenly
and greatly rich as to be satisfied, and willing to sell out when the busi­
ness was worth 18 per cen t; that it is a business which is not liable to
fluctuation, and never fails ; that the average profit can hardly be less than
2 0 per cent on the capital invested, when it has, probably a long time and
extensively, been very much better than th a t; that, if prices have fallen
from the enormous profits of former years, it has been owing to the natu­
ral tendency of capital where so much money could be made, resulting in
over-production ; and that the business is still one of the best in the whole
country. All but the last of these statements are verified by Mr. Clay’s
evidence ; and for the last, to wit, that this business is still the best, it is
now proposed to introduce a witness whose evidence, considering the quar­
ter from which it comes, as well as for its forcible and convincing charac­
ter, will, perhaps, be somewhat surprising.
In 1844, Leavitt, Trow & Co., N ew York, published a remarkable
book, pp. 304, entitled “ N o t e s o n P o l i t i c a l E c o n o m y , a s a p p l i c a b l e
t o t h e U n it e d S t a t e s , b y a S o u t h e r n P l a n t e r .”
Amongst the
many remarkable things contained in it, (it was written by a master hand,)
are the following:—
“ Let us now calculate what cotton can be grown for when prices get down to a
mere support for master and slave. With the proper economy, by the owner liv­
ing on his place, deriving his household and table expenses from it, and clothing
and feeding his own slaves, his annual expenses, consisting of salt, iron, medicine,
taxes, wrapping for his cotton, and overseer’s wages, do not exceed 2 cents a
pound on the product or crop. All over that is a profit in their sense, that is,
over and above annual expenses. I will give the details to make this clear. A
plantation of fifty hands, makes the average of seven hales to the hand, weighing
four hundred and fifty pounds. This is three hundred and fifty bales. Suppose two
cents for expenses. This amounts to $3,150 on the crop. This orop, say, sells
for four cents a pound, nett, and, cleat of charges for transportation, insurance,




Profits o f Manufacturing and Cotton-Growing.

379

and commission for selling, leaves $3,150 profit for the luxuries of the owner,
who gets his necessaries out of the plantation by living on it. This is a very
pretty sum ; and half of it would be ample for him, which would reduce cotton to
three cents. As to insurance, unfortunately, the slaves not only insure them­
selves, but give a large increase, which grows up with the owner’s children, and
furnishes them with outfits by the time they need them. Now, I will go into a
calculation to show that two cents a pound cover the annual expenses. Here fol­
low the items, taking a plantation of fifty hands, as a basis. For overseer, $500 ;
for salt, $20 ; iron, $30 ; medicines, $20 ; doctor’s bill, $100, for you can contract
by the year, and it is often done, at $2 a head; bagging and rope to wrap it, at
12J cents for the one, and 5 cents for the other, amounts to $300 ; taxes, $100 ;
sundry small things $100 ; all told. The writer speaks from experience, for he
is a planter of cotton, and owns slaves. All this amounts to $1,170, much below
the allowance of two cents a pound, amounting, as we have seen, to $3,150.
I only wish to show that we can grow cotton fo r 3 cents a pound, and have a liv­
ing profit. * * * The cotton culture, then, is sure to go on in this country, at any
price, from three cents up, that the market warrants, and with increased energies.
These facts warrant us in asserting, which we do broadly and unqualifiedly, that
we can grow cotton cheaper than any other people on earth, not even excepting
the Hindoos. The consequence of this will be, that we will take the market of
the world, and keep it supplied with cotton. * * * I am not speaking hypotheti­
cally, when I say the United States can grow all the cotton wanted—have slaves
and land enough to do it, and even overdo it. [This was written before there was
any serious expectation of the annexation of Texas.] This country can raise
3,000,000 of bales, when that much is wanted, and then keep ahead of the con­
sumption far enough to prevent any advance in the price. * * * If we keep cotton
down, not to its minimum price, but to five or six cents, it will cease to come
around the Cape of Cood Hope, and the United States will have the market of
the world, just as certainly as at three cents. * * * England cannot decline taking
our cotton, because it is cheapest, and because she has built up her manufactories
on the minimum price of the raw material, and buys it wherever cheapest, and
has conformed all prices of labor and goods to that principle. She has, in France
and Germany as well as in us, rivals to her cotton manufactories, and such skil­
ful rivals, too, that she dare not pay more for the raw material than they do. If
she were to pay two cents a pound more for cotton than we do, or than the conti­
nent of Europe does, she would lose her hold on the cotton manufacture, and her
opponents would take her markets. The half-penny a pound duly now levied in
England will have to give way to insure her success. [This duty was taken off
in 1845, the next year after this remarkable prediction was uttered.] * * * Ac­
cording to the opinions of our most deserving and most skilful commission mer­
chants and factors, our own [American] spinners are now worth fully two cents a
pound to the cotton market, each and every year, by the competition they create
with the Europeans. * * * Fears have been expressed that, should we get under
way by the stimulus of a protecting tariff, we would not only pass the dead point,
but go ahead beyond our own consumption, so as to aim at supplying the whole
world with manufactures. Such arguments cut like two-edged swords, and show
how much might be done under protection.”
The above extracts are a little more comprehensive than what is strict­
ly pertinent to the point of the comparative profits of manufacturing and
cotton-growing. Nevertheless, they exhibit some practical suggestions of
great importance relative to the subject. One of them is a maximum
price of cotton, five to six cents, that will he best for the country, though
not, perhaps, for individual growers, except as it might prove to he their
interest thus to command the market of all the world. It is clear that the
prices cannot be kept up as high as they have been, so long as the busi­
ness is so profitable, and so attractive to capital. It may, therefore, be
better for each, as it would be better for the aggregate interest, that prices




380

Profits o f Manufacturing and Cotton-Growing.

should come down to that point, which will secure an exclusive market in
all quarters. T he idea suggested by this writer, that, in such a case, it
would be policy to prevent the rise of prices above that point, is doubtless
repugnant to the complaint, that they have already fallen too low. But it
will be hard to disturb his reasoning. T he clearness with which he has
set forth the position of England, in her absolute dependence on American
cotton, will be appreciated. It will be seen that it disposes of the argu­
ment, that England would purchase less of American cotton, under an
American protective system, and proves that she would rather be forced to
purchase more, to keep her own markets, which would be exposed to
American and other competition. In any case, these rival interests would
necessarily enlarge the field of demand for manufactured cottons, and the
world must be supplied, which necessarily increases the demand for the
raw material. W ith those who wish to sustain and raise the price of
American cotton, the two cents a pound sustaining power, imparted to it
by American spinners— admitting the fact— could hardly be unwelcome to
them ; and it will be difficult to avoid the conclusion, that the fact is so.
W ith the facts afforded by the “ Southern Planter,” as to the expense
of raising cotton, it is only necessary to find what have been the prices of
cotton, during the history of its production in the United States, down to
the present time, and its price now, to have a just idea of the profits of the
business. In a variety of instructive and useful statistics on cotton, pub­
lished in the “ N ational Intelligencer,” September 8 , 1846, which had
been prepared with great care by a Virginia gentleman, is a column of
the average price of cotton per pound, for each year, from 1790 to 1838,
as follows :—
Years.

Cents.

Years.

Cents. Years.

1790,...... ..... .......... 1^1 1807,..............
1,91,............ .......... 26 1808,............ ..........
1792,............ .......... 29 1809,............ ..........
1793, ...........
1810,............
1794,............ .......... 33 1811,............. ..........
1795............. .......... 364 1812,............ ..........
1796,............ .......... 364 1813,............ ..........
1797,............ .......... 34 1814,............ ..........
1798,............ ........... 39 1815.............. ..........
1816.............. ..........
1799;............
1817,............ ..........
1800,............
1801,............ .......... 44 1818,............. ..........
1802,............ ........... 19 1819,............ ..........
1803,............ ........... 19 1820,............ ..........
1804,............ ........... 20 1821,............ ..........
1805,............ ........... 23 1822,............ ..........
1806,............ ........... 22
By a table in the Report of the Secretary
e r’s, p. 612, these average prices are brought
begins with 1833 :—
Years.
Cents.
1 8 3 3 ,................................
11
1834,
.....................
12
1835,
.....................
16
1 6 3 6 ,................................
16

Cents.

1823,......... .... 10& .12
15
19 1824,......... .............
.............. 21
16 1825,
1826,
. ............. 11
154 1827,......... .............
34
104
1828,......... ............. 104
10
12 1829,........ .............
10
15 1830,........ .............
21 1831,........ .............
94
10
294 1832,........ .............
264 1833,.........
13
34 1834,........ .............
164
24 1835,........ .............
17 1836,........ .............
16#
16 1837,........ .............
144
1838,........
1154

of the Treasury, Mr. W alk­
down to 1844, inclusive. It

Years.
Cents. Years.
Cents.
1 8 3 7 ,..............................
14
1841,..............................
10
...................... ......................
1842,
1838,
..................
10
1843,
..................
6
1839,
..................
14
1844,
..................
8
1840,
..................
8

T he slight variation in six concurrent years, from 1833 to 1838, inclu­
sive, in these two authorities, establishes at least the fidelity of the first,
if it should suggest that there may have been a motive in the second— (it




8

The Education o f a Man o f Business.

381

was sent to the Secretary from South Carolina, in answ er to one of his
circulars— ) for making the price as low as fairness would allow. Both
are doubtless worthy of confidence, and in any case are accurate enough
for the present purpose.
It is proper to remark, that the higher prices c f former years do not de­
termine the question of comparative profits in the business at different
times. T he advantages of experience, and sundry improvements, might
make the prices of latter years more profitable than those of the former.
T he right of using W hitney’s cotton-gin, w as open to all, in 1800. It
will be seen that the prices have never yet come down to the maximum,
five to six, which the “ Southern Planter ” thinks would be best for the in ­
terest, and that, for the last twenty of these years, from 1825 to 1844, in­
clusive, they amount to an average of 1 1 } cents, (taking Mr. W alker’s
prices as far as they go,) leaving nearly four times a living profit, which is
three cents. T he average prices of the first thirty-five years, from 1790
to 1824, inclusive, were twenty-four cents, or eight times the living profit
of the present period.
T here is enough in all this, to show, in connection with the evidence of
Mr. Clay, and the practical statements of the “ Southern Planter,” first,
that cotton-growing in the United States, has not only been a very profit­
able business, down to this time, but by far the most profitable of any in
the country; secondly, that it has never seen a day of adversity; and
thirdly, that it occupies a commercial position, in relation to the wants of
mankind, and to the rest of the world, which, for an indefinite future pe­
riod, apparently for ever, is very sure to command uninterrupted prosperity
and great profits.
And this is the interest which complains of the profits of manufacturing,
when the latter, in its best days, never did so well as cotton-growing in its
poorest days ; when cotton-growing never failed— can’t fa il; w hereas,
manufacturing has broken down many times— has sunk more money, and
ruined more fortunes, than has happened to any other interest in the land.

Art. ¥11.— THE EDUCATION OF A MAN OF BUSINESS.
“ The wisdom touching negotiation or business, hath not been hitherto collected into
writing, to the great derogation of learning, and the professors of learning. For from
this root springeth chiefly that note or opinion, which by us is expressed in adage to this
effect, ‘that there is no great concurrence between learning and wisdom.’ l o r of the
three wisdoms which we have set down to pertain to civil life, for wisdom of behaviour,
it is by learned men for the most part despised, as an inferior to virtue, and an enemy to
meditation; for wisdom of government, they acquit themselves well when they are called
to it, but that happeneth to few ; but for the wisdom of business, wherein man’s life is
conversant, there be no books of it, except some few scattered advertisements, that have
no proportion to the magnitude of this subject. For if books were written of this, as
the other, I doubt not but learned men with mean experience would far excel men of
long experience without learning, and outshoot them in their own bow.”—Bacon's A d­
vancement of Learning.

T he essential qualities for a man of business are of a moral nature :
these are to be cultivated first. H e must learn betimes to love trulh. T hat
same love of truth will be found a potent charm to bear him safely through,
the world’s entanglements— I mean safely in the most worldly sense. B e­
sides, the love of truth not only makes a man act with more simplicity,
and therefore with less chance of error, but it conduces to the highest in­
tellectual development. T he following passage in “ The Statesman ”




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The Education o f a Man o f Business.

gives the reason. “ T he correspondencies of wisdom and goodness are
manifold ; and that they will accompany each other is to be inferred, not
only because men’s wisdom makes them good, but also because their good­
ness makes them wise. Questions of right and wrong are a perpetual
exercise of the faculties of those who are solicitous as to the right and
wrong of what they do and see ; and a deep interest of the heart in these
questions carries with it a deeper cultivation of the understanding than
can be easily effected by any other excitement to intellectual activity.”
W hat has just been said of the love of truth applies also to other moral
qualities. Thus, charity enlightens the understanding quite as much as it
purifies the heart. And indeed knowledge is not more girt about with
power than goodness is with wisdom.
T he next thing in the training of one who is to become a man of busi­
ness, will be for him to form principles ; for without these, when thrown
on the sea of action, he will be without rudder and compass. They are
the best results of study. W hether it is history, or political economy, or
ethics, that he is studying, these principles are to be the reward of his la­
bor. A principle resembles a law in the physical world ; though it can
seldom have the same certainty, as the facts, which it has to explain and
embrace, do not admit of being weighed or numbered with the same ex­
actness as material things. T he principles which our student adopts at
first may be unsound, may be insufficient, but he must not neglect to form
some ; and must only nourish a love of truth that will not allow him to
hold to any, the moment that he finds them to be erroneous.
Much depends upon the temperam ent o f a man of business. It should
be hopeful, that it may bear him up against the faintheartedness, the folly,
the falsehood, and the numberless discouragements which even a prosper­
ous man will have to endure. It should also be calm ; for else he may
be driven wild by any great pressure of business, and lose his time, and
his head, in rushing from one unfinished thing, to begin something else.
Now this wished-for conjunction between the calm and the hopeful is very
rare. It is, however, in every man’s power to study well his own tem­
perament, and to provide against the defects in it.
A habit of thinking for himself, is one which may be acquired by the
solitary student. But the habit of deciding for himself, so indispensable
for a man of business, is not to be gained by study. Decision is a thing
that cannot be fully exercised until it is actually wanted. You cannot play
at deciding. You must have realities to deal with.
It is true that the formation of principles, which has been spoken of
before, requires decision ; but it is of that kind which depends upon de­
liberate judgm ent: whereas, the decision which is wanted in the world’s
business must ever be within call, and does not judge so much as it fore­
sees and chooses. This kind of decision is to be found in those who have
been thrown early on their own resources, or who have been brought up
in great freedom.
It would be difficult to lay down any course of study, not technical, that
would be peculiarly fitted to form a man of business. He should be brought
up in the habit of reasoning closely: and, to insure this, there is hardly
anything better for him than the study of geometry.
In any course of study to be laid down for him, something like univer­
sality should be aimed at, which not only makes the mind agile, but gives
variety of information. Such a system will make him acquainted with




The Education o f a Man o f Business.

383

many modes of thought, with various classes of facts, and will enable him
to understand men better.
T here will be a time in his youth, which may, perhaps, be well spent
in those studies which are of a metaphysical nature. In the investigation
of some of the great questions of philosophy, a breadth and a tone may be
given to a man’s mode of thinking, which will afterwards be of signal use
to him in the business of every-day life.
W e cannot enter here into a description of the technical studies for a
man of business ; but I may point out that there are works which soften
the transition from the schools to the world, and which are particularly
needed in a system of education, like our own, consisting of studies for
the most part remote from real life. These works are such as tend to
give the student that interest in the common things about him, which he
has scarcely ever been called upon to feel. T hey show how imagination
and philosophy can be woven into practical wisdom. Such are the w ri­
tings of Bacon. H is lucid order, his.grasp of the subject, the compre­
hensiveness of his views, his knowledge of mankind, the greatest, perhaps,
that has ever been distinctly given out by any uninspired man, the prac­
tical nature of his purposes, and his respect for anything of human inter­
est, render Bacon’s works unrivalled in their fitness to form the best men
for the conduct of the'highest affairs.
It is not, however, so much the thing studied, as the manner of study­
ing it. Our student is not intended to become a learned man, but a man
of business ; not a “ foil man,” but a “ ready man.” H e must be taught
to arrange and express what he knows. For this purpose let him employ
himself in making digests, arranging and classifying materials, writing
narratives, and in deciding upon conflicting evidence. All these exercises
require method. H e must expect that his early attempts will be clum sy:
he begins, perhaps, by dividing his subject in any way that occurs to him,
with no other view than that of treating separate portions of it separate­
l y ; he does not perceive, at first, what things are of one kind, and what
of another, and what should be the logical order of their following. But
from such rude beginnings, method is developed; and there is hardly any
degree of toil for which he would not be compensated by such a result.
H e will have a sure reward in the clearness of his own views, and in the
facility of explaining them to others. People bring their attentions to the
man who gives them most profit for it; and this will be one who is a mas­
ter of method.
Our student should begin soon to cultivate a fluency in writing— I do not
mean a flow of words, but a habit of expressing his thoughts with accuracy,
with brevity, and with readiness ; which can only be acquired by practice
early in life. You find persons who, from neglect in this part of their edu­
cation, can express themselves briefly and accurately, but only after much
care and labor. And again, you meet with others who cannot express
themselves accurately although they have method in their thoughts, and
can write with readiness ; but they have not been accustomed to look to
the precise meaning of w ords; and such people are apt to fall into the
common error of indulging in a great many words, as if it were from a
sort of hope that some of them might be to the purpose.
In the style of a man of business, nothing is to be aimed at but plainness
and precision. For instance, a close repetition of the same word for the
same thing need not be avoided. T he aversion to such repetitions may




394

Mercantile Law Cases.

be carried too far in all kinds of writing. In literature, however, you are
seldom brought to account for misleading people ; but in business you may
soon be called upon to pay the penalty for having shunned the word which
would exactly have expressed your meaning.
I cannot conclude this essay better than by endeavoring to describe w hat
sort of person a consummate man of business should be.
H e should be able to fix his attention on details, and be ready to give
every kind of argument a hearing. This will not encumber him, for he
must have been practised beforehand in the exercise of his intellect, and
be strong in principles. One man collects materials together, and there
they remain, a shapeless heap ; another, possessed of method, can arrange
what he has collected; but such a man as I would describe, by the aid of
principles, goes farther, and builds with his materials.
H e should be courageous. T he courage, however, required in civil
affairs, is that which belongs rather to the able commander than the mere
soldier. But any kind of courage is serviceable.
Besides a stout heart, he should have a patient temperament, and a
vigorous but disciplined im agination; and then he will plan boldly, and
with large extent of view, execute calmly, and not be stretching out his
hand for things not yet within his grasp. H e will let opportunities grow
before his eyes until they are ripe to be seized. H e will think steadily
over possible failure, in order to provide a remedy or a retreat. T here
will be the strength of repose about him.
H e must have a deep sense of responsibility. H e must believe in the
power and vitality of truth, and in all he does or says, should be anxious
to express as much truth as possible.
II is feeling of responsibility and love of truth will almost inevitably en­
dow him with diligence, accuracy and discreetness,— those common-place
requisites for a good man of business, without which all the rest may never
come to be “ translated into action.”

M E R C A N T I L E LAW CASES.
PROMISSORY NOTES.
I n the High Court of Errors and Appeals, State of Mississippi, November

Term, A. D. 1844. Payne, Green and Wood, vs. Baldwin, Vail and Hufty.
Chief Justice Sharkey delivered the opinion of the Court.
Baldwin, Vail and Hufty instituted this suit against the plaintiffs in error on two
promissory notes, each for the sum of $6,283 15, payable at the Merchants’Bank
in New Orleans, one at sixty, and the other at ninety days from the 14th of De­
cember, 1839.
The jury returned a special verdict, by which it appears that the two notes were
made on the 4th of December, 1839, by James Payne, Abner E. Green, and Rob­
ert Y. Wood, and on the same day delivered to the Mississippi Railroad Company,
for and on account of Payne ; and that the notes were discounted by the company
under their banking powers on the same day, at the instance of Payne, who re­
ceived the proceeds, and the company became thereby the holders of the notes,
which were presented for payment at maturity, and on payment being refused,
were protested, and remain unpaid. The Mississippi Railroad Company being in­
debted to Baldwin, Vail and Hufty, on the 1st day of April, 1841, transferred to
them the notes in payment of the debt. If, upon these facts, the law was for the
plaintiffs, then they found for them, but if the law was for the defendants, then




Mercantile Law Cases.

385

they found for them. The court gave judgment for the plaintiffs, and the defend­
ants brought up the case by writ of error, and the sole question is, had the bank,
at the time mentioned, a right to transfer its negotiable securities, in the face of
an act of the legislature, previously passed, prohibiting such a transfer ?
The language of the prohibition is as follows: “ That it shall not be lawful for
any bank in this State to transfer, by endorsement or otherwise, any note, bill re­
ceivable, or other evidence of debt, and if it shall appear in evidence upon the
trial of any action upon any such note, bill receivable, or other evidence of debt,
that the same was so transferred, the same shall abate upon the plea of the de­
fendant.” This, it is insisted, is in violation of that provision in the constitution
of the United States which declares that no State shall pass any law impairing
the obligation of contracts, and therefore void, inasmuch as it impairs a right con­
ferred upon the bank by its charter to transfer promissory notes.
We are referred to the adjudged cases on this subject, beginning with the great
case of Dartmouth College vs. Woodward, which has been followed by others of
high authority, all holding that a charter of a private corporation is a contract
within the meaning of the constitution, and that any act of a State legislature
which abridges, alters, or materially changes any corporate right secured by the
charter, without the consent of the corporation, is void, as being repugnant to the
constitution. By some of these authorities, a bank is held to be a corporation of
this description. If the correctness of this doctrine rested alone on positive au­
thority, it would be rashness at this day to question i t ; but it commands the en­
tire approbation of judicial reason, and deserves to be venerated for its purity.
Legislation which impairs chartered rights, is not only at war with the constitu­
tion of the United States, but is repugnant to a similar provision in our State con­
stitution, and on that account would be inoperative. But if both these instru­
ments were silent as to the power to impair the obligation of contracts, such legis­
lation is essentially repugnant to the protective spirit of a well organized govern­
ment. In a government like ours, such power is totally out of the range of le­
gislative authority. We are governed by a constitution which is a limit to the
exercise of power, and by which certain great principles are excepted out of the
general powers of legislation. No one can be deprived of his life, liberty or prop­
erty, but by due course of law ; and the spirit of this provision extends, undoubt­
edly, to franchises granted to a body corporate.
Government is designed for the happiness and safety of the people; for their se­
curity in the enjoyment of whatever right they may have acquired ; and it is imma­
terial whether the right has been acquired by grant from the State or from an in­
dividual. The State must observe good faith as well as individuals; and she can
no more withdraw what she has granted than can an individual, unless she has
reserved the power to do so. She may grant upon condition express or implied,
and the right may be forfeited ; but it cannot be withdrawn at pleasure. The par­
liament of Great Britain claims to be omnipotent, and may possess the right to
annul corporate rights; but it does not exercise it. Our constitutional provisions
were designed as checks against the exercise of any power which is destructive
of private vested rights.
A bank charter is as good an example of a contract within the meaning of the
constitution, as any that could be given. The State either voluntarily tenders, or
grants on the application of individuals, it is immaterial which, individuality and
immortality to an artificial or legal person, and confers upon it certain powers, on
the condition of acceptance and investment, for the purpose of carrying out the
objects of the charter. When it is accepted and acted under, the privileges se­
cured or granted, are irrevocable; as much so as if the grant had been made to a
private individual; and it is immaterial whether the benefit to the State is actual
or ideal; it may even prove injurious; but this will not alter the irrevocability of
the contract. The State must always keep its proffered faith.
This being the law, then, there is but one point left to determine ; and that is,
has there been an infraction of chartered rights ? Has the obligation of the con­
tract with the Mississippi Railroad Company been impaired ? If so, the act is
void. But if, on the contrary, the rights granted have not been impaired, the act
VOL. XV.---- NO. IV .




25

386

Mercantile Law Cases.

is valid. We cannot declare an act void unless there has been a palpable viola­
tion of a constitutional provision. It will not do that by possible construction ; it
may conflict with the constitution because a construction which produces confliction is to be avoided, if any other can be fairly given.
It is said the powers of this bank are co-extensive with those of any bank in
the State, under a general provision in the supplement, which authorized the com­
pany to “ exercise all the usual rights, powers, and privileges of banking, which
are permitted to banking institutions in this State.” As it possesses all the pow­
ers of any other bank, the charter of the Planters’ Bank is resorted to as best
showing what these powers are ; by the 6 th section of which it is declared that
the bank shall be “ able and capable in law to have, possess, receive, retain and en­
joy to themselves and their successors, lands, rents, tenements, hereditaments,
goods, chattels, and effects of what kind soever, nature and quality, not exceeding
in the whole, six millions of dollars, including the capital stock, and the same to
grant, demise, alien, or dispose of, for the good of said bank.” It is under this
section that express power is claimed to transfer notes. The 17th section con­
fers power to receive money on deposit, to discount bills of exchange, and notes,
to make loans, &c., but is silent as to the power to transfer notes, and we are now
to determine whether counsel are right in supposing that the power was conferred
by the 6 th section.
The first thing which strikes us as rather remarkable is, that the power to trans­
fer notes is claimed under a section which does not even authorize the bank to
take notes, unless it be a very remote implication. The 6th section never was de­
signed to perform such an office. This becomes manifest when we follow up the
charter, and find, in a subsequent section, an express provision authorizing them
to discount notes or bills. But, say the counsel, notes are “ effects,” and the power
to dispose of effects, is equivalent to a power to assign notes. The word “ effects,”
is very comprehensive in its signification, it is tru e; but when we come to construe
the words of a law, we must look at the context to arrive at their true meaning.
When we come to do this, it seems more than probable that the legislature, in
using the word “ effects,” had no idea that they were regulating the transfer and
ownership of promissory notes. To discount notes and bills is the principal bu­
siness of a bank, and being so, the legislature was specific in granting authority
to do so. Would it not seem like very awkward legislation, in creating a bank,
to leave it with only a general power to take “ effects,” and to dispose of them for
the good of the bank ? It would, and hence we fairly conclude that, in this in­
stance, the 6 th section had reference only to the property of the bank, and not to
its choses in action, or, more properly, to its notes.
But there are other considerations which are entitled to more weight. We are
informed that a corporation possesses only those powers or properties which the
charter of its creation confers upon it, either expressly, or as incidental to its very
existence.—Dartmouth College vs. Woodward. The incidental or implied powers
must not be construed to embrace everything. They are, at most, only such pow­
ers as are essentially necessary to enable the corporation to fulfil its destiny; to
do those things which it may do by express permission. Such powers, it may be
presumed, were intended to be conferred: they are implied from those which are
granted. In order to ascertain, then, what has been granted, we must look to the
grant solely ; and it will be well to keep out of view the general provisions of the
law, and consider the grant as though no such provision existed. The right to
transfer notes is claimed under the charter. In England, notes received their ne­
gotiable character from 4 and 5 Anne ; before that time they were not assignable ;
.it being a general principle in common law that choses in action were not assign­
able. With us they derive their character and negotiability from a statute which
declares that all bonds, notes, &c., may be assigned by endorsement, and the en­
dorsee may maintain an action in his own name, and recover, subject, however,
to offsets acquired before notice of transfer. II. H. Dig. 373. Now let us sweep
this statute from the statute book, and suppose that no such law had ever existed ;
could any one imagine, in such a case, that this bank charter made notes negotia­
ble by endorsement, and enabled the holder to sue in his own name and recover ?




Mercantile Law Cases.

387

Does it perform the office of the statute of Anne and of our own statute, and ena­
ble the bank, in the legal and mercantile sense of the term, to assign its notes by
endorsement ? To these questions there can be but one answer, and that in the
negative. If notes are negotiable under this charter, they may be negotiated so
as to deprive the maker of his offsets, for it contains no provision for him. This
right is secured to him alone by the general law providing for the negotiation of
paper. Yet I suppose no one would contend that offsets acquired against the
bank, before notice of assignment, would not be available against the note in the
hands of any holder. Then, I apprehend, that the counsel are mistaken in sup­
posing that the charter gives express authority to assign notes. If the bank has
such power, it must, in some shape or other, derive it from the general law regu­
lating this subject; for we cannot say that the right to dispose of effects confers
any right to endorse a note so as to enable the endorsee to maintain an action in
his own name. The right to dispose of effects, is a right which was always en­
joyed by every individual; and yet statutes, specially framed for the purpose, have
been thought necessary, both in England and America, to enable the payee of a
note to transfer it. But it is also insisted that, independently of the grant to this
corporation, it is incident to it, at common law, to have a capacity to purchase and
alien lands and chattels. That is true, if by law the property may be sold or dis­
posed of. The ju s disponendi is an incident to property; it is not an incident to
the corporate rights in that broad and unqualified sense contended for. The au­
thority given to this bank to dispose of the property which it was authorized to
acquire, was mere supererogation; it had the power without the grant to the same
extent that it has with it, for the charter gives nothing but a general authority.
But the power to hold and dispose of property, only enables the corporation to
take it with all its inducements, and so to dispose of it. The ju s disponendi is
regulated by the general laws of the State, as well in reference to corporations as
to individuals, unless, by an express grant, their property is exempt from the oper­
ation of these laws: or, unless providing another ample mode, the legislature
should so plainly indicate an intention to make an exemption, as to leave the mat­
ter beyond a doubt. This charter grants no independent or distinct power to dis­
pose of property. It gives the power to hold property and dispose of it, but it is
silent as to the mode of disposition. The consequence is, that it must be disposed
of according to the general law. All that was meant by the grant of power to
dispose of property, was to give that power, if by law the property was in its char­
acter alienable or vendable; and this, too, is the extent of the common law power;
In this respect, the corporations stand precisely on a footing with natural persons;
they cannot sell that which is illegal to sell, or which is not transferable from
one to another. And in selling that which may by law be disposed of, the gene­
ral law must be followed. The right to dispose of it must depend upon the law
of the property. As these laws are altered at the pleasure of the legislature, the
corporation cannot claim exemption from the effects of these alterations, unless,
by express stipulation, the legislature has consented to grant such exemption.
These changes cannot affect vested rights, of course; but they are binding on the
corporation in all subsequent transactions. Suppose this corporation were selling
its real estate; would it not follow the law of conveyance as it existed at the time
of making the conveyance ? Surely it would ; because the charter gives it no
power to convey in any other way. Could it convey in fee tail ? It could not;
because it has no grant of exemption from the general law. Private property
may be appropriated to public uses on just compensation made. Could it be said
that the corporation, because the charter authorized it to hold property, was ex­
empt from this provision ? The bank, then, holds its property subject to such ex­
actions, restrictions, or incidents, as are imposed by law on the property of indi­
viduals, unless they are removed by the charter. This corporation has power to
take promissory notes. Negotiability is a quality attached to notes by law, not
by the charter. It does not constitute an essential ingredient in a note. It does
not strengthen the contract between the maker and the payee, nor does it consti­
tute any part of that contract. And as it was a privilege enjoyed by the corpo­
ration solely under the general law, it was one which was taken from them by
the repeal of that law. The charter gives them no guaranty that the law should




388

Mercantile Law Cases.

not be repealed. It was a subject over which the legislature had entire control
when the charter was granted, and this, like all other subjects, is still subject to
their control, unless a clear and positive restriction has been imposed. The power
of the legislature is not to be taken away by construction. If the charter had
granted power to assign these notes so as to enable the assignee to maintain an
action in his own name, then the right would have been beyond the control of the
legislature. Or if this was a power essentially important to enable the bank to
carry on its business, and necessarily implied by the charter, then the question
would be different; but it is not. It may be very convenient for a bank to trans­
fer its securities ; but certainly such power is not essential to its existence, or to
its capacity to do banking business. A contract is not impaired in its obligation
unless some right and privilege which has been granted has been defeated or
abridged. The legislature did not take from promissory notes an incident which
they had previously given them. The substance of the note itself was not
changed, and the charter does not guarantee to the corporation that such notes
should remain negotiable. As well might it be insisted that the whole code of
laws, with regard to property, was unchangeable as to the property of this corpo­
ration ; that taxes should not be increased, or imposed on any article that was not
then taxable.
These views accord with the decision of the Supreme Court of the United
States in the case of the Providence Bank vs. Billings & Petman. 4 Peters, 514.
The bank insisted that it was exempt from the operation of a law subsequently
passed, imposing a tax on bank stock. It was held that the taxing power was
important to the government, and that nothing but an express exemption would
exonerate property of the bank from the general power of the legislature to im­
pose taxes on it. This may be said with truth of all the legitimate subjects of
legislation ; they are important to the government, some, it is true, more so than
others ; and we cannot assume that any branch of it has been abandoned, without
an express declaration to that effect. “ The power of legislation,” said the Su­
preme Court, “ and consequently of taxation, operates on all persons and property
belonging to the body politic. This is the original principle which has its founda­
tion in society itself. It is granted by all, for the benefit of all. It resides in gov­
ernment as a part of itself, and need not be reserved when property of any descrip­
tion, or the right to use it in any manner, is granted to individuals or corporate
bodies.” Another portion of the opinion in the case referred to, which was de­
livered by Chief Justice Marshall, will apply to the present case with still greater
force. “ The great object of an incorporation is to bestow the character and prop­
erties of individuality on a collective and changing body of men. This capacity
is always given to such a body. And privileges which may exempt it from the
burthens common to individuals do not flow necessarily from the charter, but must
be expressed in it, or they do not exist.” For this corporatioh is claimed a privi­
lege—the privilege of exemption from legislative action, one of the legitimate
subjects of legislation. Such a privilege is not expressed in the charter, and,
therefore, does not exist. They claim that the law regulating the negotiability
of promissory notes shall remain as it stood when the charter was given. The al­
teration of the law does not deprive the corporation of any granted franchise ; it
does not take away from it any of its property or effects ; it does not impair the
obligation of any contract that had been made. The assignment of a note is a
new contract, the power to make which was derived from the law ; and the new
law simply takes this power from the corporation. It amounts, at most, to a mere
modification of the use that may be made of a promissory note, leaving the corpo­
ration full power to use their notes according to their legal effect. The obliga­
tion of the contract, in this instance, is the duty the State is under to secure to
the corporation the full enjoyment of all that was granted; but it is no part of the
obligation that the State should withdraw its power of legislating on proper sub­
jects for legislative action, because by such legislation a particular kind of prop­
erty, which the corporation may hold, may be rendered less useful to it.
For these reasons, we think the law on the special verdict was for the defend­
ants, and there is nothing in the pleadings which can change the judgment.
Judgment reversed, and judgment for the defendants.




389

Commercial Chronicle and Review.

COMMERCIAL CHRONICLE AND REVIEW.
THE CROP SEASON— REVIEW OF FOREIGN AND HOME MARKETS— CONSUMPTION OF PRODUCE— COT­
TON CROPS----SPECULATIONS OF VINCENT NOLTE----ARRIVAL OF FLOUR AND WHEAT AT TIDE­
WATER----PRICE OF FLOUR IN NEW YORK----EXPORT OF BREAD-STUFFS FROM THE PORT OF NEW

1845-46----MEXICAN WAR----CONDITION OF NEW YORK BANKS----IMPORTS AND DUTIES---1845-46— EXPORTS, RECEIPTS, STOCKS, ETC.,
ALL THE PORTS OF THE UNITED STATES, 1845-46 AND 1844-45— SALES OF COTTON IN

YORK,

COTTON STATISTICS OF THE UNITED STATES, FOR
FOR

NEW YORK----PRICES----FREIGHT----EXCHANGE----IMPORT OF COTTON INTO NEW YORK----STATE OF,
TRADE IN GREAT BRITAIN— IMPORTS INTO THE UNITED KINGDOM, .IAN.

5 TO JULY 5— LEADING

FEATURES OF THE BANK OF ENGLAND— PROSPECTS OF BUSINESS, ETC.
T
month of September commences the business of the crop ybar. It is the
season when the new crops begin to make their appearance in the markets, and
when the operations of large dealers begin to be regulated by the probable extent
of the raw productions and the prospective demand for their consumption. In
the present state of commerce throughout the world, the most important point of
consideration has come to be, the state of the harvest of Great Britain; not only
because of the magnitude of the wants of that country in times of deficient har­
vests, but by reason of the collateral influences it has been wont to exert upon
the finances of the world, as well as upon the consumption of raw produce less
necessary to human existence than is that of food. England occupied up to late
years the position of manufacturer for the world, and consequently that of the
largest buyer of raw produce. The internal consumption of that produce de­
pended upon the cheapness of food, through which, the masses of the people could
bestow a portion of their earnings upon the purchase of clothing. The external
sales of British manufactures turned for the most part upon British credits, on
the ability to extend which, depended the quantities of goods which near and dis­
tant markets could take. Thus both the home and foreign markets turned upon
the crops, because the dearness of food, which prevented the home consumption
of goods, induced the import of foreign grain, which under the restrictive system
was to be paid for in coin, the export of which for that purpose undermined those
credits necessary to the extended export of the surplus manufactures to those
countries where capital was scarce. There was nothing in corn which naturally
required that it should be paid for in specie exclusively, but that result grew out
of the absurd commercial regulations of the government. A regular annual im­
port of corn, like any other article, would induce a reciprocal trade to be paid for
in goods. When, however, the laws were so contrived, that in certain years a
total prohibition of the import of grain should take place, and the trade with corn­
growing countries annihilated, it followed that a sudden renewal of the trade in
case of necessity on one side, required payment to be made in coin. The high j
price of corn, which required the import, crushed the home trade, while the ex­
port of specie in payment collapsed the credits on which the general export trade
depended. The countries most intimately connected by commerce with Eng­
land, felt the influence of these vicissitudes in the greatest degree. To the Uni­
ted States, in particular, where a large interest, composing the staple of eight
States of the Union, depended for its value upon the price obtained for it in Eng­
h

e




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Commercial Chronicle and Review.

land, and the commercial interests hung in a great degree upon those credits
based upon the value of money in London, the state of the English harvest was
matter of great solicitude. A bad harvest was the cause of unalloyed evil, be"
cause the sudden operations of the sliding scale threw into the hands of European
dealers the supply of the deficient grain. In the past two or three years, how­
ever, elements have been called into existence which have materially changed the
connection with, and influence of the English harvest upon commercial credits.
These have been, the growing up of a reciprocal trade between England and corn­
growing countries, by means of which the demand for specie has been so far
changed, that a great influx of the precious metals into England has taken place
simultaneously with an extended import of food. 2d. Events have materially
curtailed the dependence of the American import trade upon English credits3d. The modification of the com laws has insured a continuance in England of
low prices for food, on which the health of the home market depends, while it has
operated, conjointly with the increase of the consumption of food on the conti­
nent, to throw the supply of the English deficits upon the United States. In for­
mer years, a short harvest in England caused a sudden pressure upon all the com­
mercial and financial affairs of the Union, a fall in cotton, and serious losses to
the planters, checking the whole internal trade of the Union, without offering any
advantage to offset these evils. Under the modified laws, the effect now is only
to enhance for American farm produce a demand sufficient to insure a continu­
ance of low prices in England, and uninterrupted health of the English home
trade, sustaining an undiminished demand for cotton, by which prices are sup­
ported. That is to say, the export of several millions of farm produce from the
Western States, saves to the southern planters several millions in the value of
their cotton. A short harvest in England, although a calamity to the world, be­
comes, therefore, a special benefit to the United States. The new harvests of the
United States are about to come forward this year to supply the deficit. The cot­
ton crop of the United States is estimated as a short one. Some have placed it
as low as 1,600,000 bales, on account of the lateness of the season, and the ap­
pearance of the army and boll-worms attacking the plant at a much earlier period
of its age than usual. These accounts are, however, always to be received with
the greatest caution, and the product may not, including Texas, fall below 2,000,000
bales. Symptoms of speculation, based upon the short crops, have made their ap­
pearance, but checked by the state of the harvest in England, the effect of which
has heretofore been to diminish consumption. The fearful lesson taught by the
year 1839, has yet its influence upon the trade. The example of the speculations
of Vincent Nolte is yet before the eyes of many dealers. That remarkable per­
son described in a circular under date of September, 1839, the state of the cotton
market, as follows:—
“ After eighteen years of successive and uninterrupted increase in the con­
sumption of cotton, a sudden decline, to the extent of 30 per cent, and equally
sudden rise of the value of money, from 3i to 10 and 12 per cent, protected by a
most precipitate and unexpected abolition of the act against usury—all this in the
short space of four or five months, are events which no human forecast could have
embraced in the most exaggerated anticipations of possible contingencies.”
These were, however, the natural and legitimate effects of a sudden failure of
the English harvest, heightened in effect by the extent of that failure. When, in




Commercial Chronicle and Review.

391

the fall of 1838, the estimates of the short crop of 1838-9 began to excite specu­
lation, six years had elapsed since any considerable importations of grain had
been made into England, and sufficient consideration was by no means paid to the
effects of a serious deficiency in the harvest. The year 1839 proved to be one of
the largest imports of grain ever known, and hence that great diminution in the
consumption of cotton which Mr. Nolte estimated at 30 per cent. The immense
sums of specie sent out of the country for payment, produced a financial crisis
which was felt in every country where credit had become an instrument of com­
merce. The influence of this disastrous harvest upon the cotton crop, had not
been duly estimated by those whose operations in cotton reached so ruinous a
magnitude. It is probable that under the new state of things such an event could
never occur again—so large a demand for food could never again fall so suddenly
on markets requiring gold only in payment—nor could a deficient crop affect the
consumption of goods to so disastrous an extent The development of the agri­
cultural resources of the United States, which had then been checked by several
years of extraordinary speculation, has since progressed in a most unparalleled
manner, and is susceptible of an almost limitless extension. The highest author­
ity of the West, states that wheat can be delivered in sacks, on the borders of the
great lakes, at 16 cents per bushel, which would make a price of 40 cents in New
York, or, allowing a large margin, 50 cents per bushel free on board, which would
be equal to 19s. sterling per quarter, and this in quantities which can scarcely be
limited. The price at Odessa has not been less than 23s. per quarter, during the
past year, and has been as high as 35s. The average in the north of Europe has
been 45s., or $1 20 cents per bushel. One of the most remarkable instances of
the effect of demand upon supply, was seen last year in the receipts of flour and
wheat, expressed in barrels of flour, at tide-water on the Hudson, as follows
ARRIVAL OF FLOUR AND WHEAT AT Tm E-W A TER , AND VALUE IN NEW YORK, MONTHLY, EX­
PRESSED IN BARRELS OF FLOUR.

1814.
April,.................
May, .................
Ju n e ,.................
July,...................
August,..............
Septem ber,...... .
October,.............
Novem ber,.......

Bbls.
66,097
368,561
297,2 7 8
306,9 8 0
256,880
361,012
4 2 7 ,3 9 6
443,6 6 2

Total,... . 2 ,5 2 7 ,8 6 6

Price.
$ 4 624
4 62 A
4 3H
4 311
4 181
4 37i
4 814
4 68$
§ 4 44

1845.
Value.
$ 3 0 5 ,6 9 8
1,704,595
1,281,268
1,223,033
1 ,075,685
1 ,654,028
1,789,721
2 ,0 8 0 ,7 8 4

Bbls.
199.976
402,070
234,879
204,301
195,041
327,141
541,686
822,475

$ 1 1 ,2 1 4 ,8 6 2

2,927,569

Price.
$ 4 62$
4 50
4 624
4 314
4 814
4 814
6 25
7 00

Value.
$ 9 2 4 ,8 8 9
1,809,315
1,086,315
8 8 1,048
9 3 8,147
1,573,548
3,385,537
5,754,325

$ 5 58 $ 1 6 ,1 5 3 ,1 2 4

Up to the close of September, it will be observed, the quantity brought down
on the canals was less than in the previous year, and that was taken as prima
facie evidence of diminished production, when, in fact, it grew entirely out of the
indisposition to forward, at low prices, to a limited market. In September, the
English news produced excitement, and immediately the receipts began to swell,
until in November they were double those of the same month in the previous year.
The high price called forth immense quantities that were not supposed to exist.
The New York market has been active since January. The following is a table of
the monthly exports of bread-stuffs from the port of New York, with the prices of
flour :—




392

Commercial Chronicle and Review.
E X P O R T O F B R E A D -S T U F F S F R O M T H E T O R T O F N E W Y O R K .

1845.
W heat. Corn.
bush. bush.

Flour.
bbls.

January,........................ 13,370 13,316
February,.......................
7,247 6,388
March,........................ 18,703 14,656
April,............ 1,600 20,084 17,122
M ay,..............................
6,672 24,781
June,..............................
7,190 27,351
July,.............. 3,902
4,702 21,495
August,.........
400
6,118 50,272
Total,....... 5,902 84,086 175,381
Increase,...............................................

1846.
Price flour. W heat.
bush.

$ 4 87
46,591
4 874
9.276
4 75
25,813
4 68
64,339
4 624 51,053
4 68 125,816
4 31 100,780
4 754 99,664
523,332
517,430

Corn.
bush.

112,607
201,220
10,581
17,444
92,756
95,089
26,259
7,231

Flour.
bbls.

Pr. flour,

69,613
41,153
37,152
64,497
70,633
131,027
102,550
77,586

$ 5 62$
5 50
5 50
5 37
4 50
4 06
4 18
4 00

563,187 594,211
479,101 418,830

The exports of flour alone, are near $2,000,000 in value, in excess of the same
period last year; and in September, a renewed activity in the export demand ad­
vanced prices to $4 50 a $5. Notwithstanding the large receipts that have already
come forward, it is highly probable that a rise in prices this fall may stimulate a
much farther increase in the volume of the supply before the closing of the canals.
The export of flour from New Orleans to foreign ports, has increased 220,000
barrels over last year, and of corn, 540,000 bushels. These large and increasing
exports of produce must add wealth to the Western States, not only by the direct
amount of the sales, but by the enhanced value of the whole production caused
by sending so great a surplus out of the market. The trade is getting into a cur­
rent, which must run broader and deeper, with increasing volume, from year to
year. The southern and western interests come thus mutually to support each
other in the foreign trade, and the increased prosperity of both is the guarantee
of a renewed impulse to manufacturing industry.
In the aspect of affairs for the future, there appears nothing in view to check a
season of most unexampled commercial prosperity, with the exception of political
affairs growing out of the Mexican war. This unhappy strife, and the uncer­
tainty which attends its duration, hangs like an incubus over the market, para­
lyzing enterprise, and retarding the growth of commercial confidence. Its influ­
ence has been manifest upon the movements of the New York banks, in a cur­
tailment of their credits, as indicated in the quarterly returns as follows :—
IMMEDIATE MEANS AND LIABILITIES OF THE NEW YORK BANKS.
Im m e d ia te lia b 's .
Nov., 1843. Au?., 1844. Feb., 1845. Nov., 1845. Feb., 1846. May. 1846. Aug., 1846.
Deposits............... $37,380,160 $28,757,132 $25,976,346 $31,773,991 $29,654,401 $30,868,337 $28,110,553
Nett circulation,..
12,952.045 15,349,205 16.126,394 19,366 377 18,407,733 18 409,977 15,537,425
Due banks.............
4 941,414
7,744,118 3 816,252
3,296,249 4,662,073 2,973,658 5,266,583
Canal Fund.........
1,157,203
1,210,794 1,607,572
1,581,330
896,843
646,328
433,715
United States.......
1,645,320
3,674,171
700,064
3,002,649 2,580,711
3,493,622 2,115,640

T otal,................. $48,076,142 $56,735,410 $48,220,528 $59,020,596 $56,201,761 $56,391,962 $51,463,916
Im m ediate m eans.

Specie,.................. $11,502,789 $10,161,974 $6,893,236 $8,884,545 $8,361,383 $8,361,383 $8,673,309
Cash items,...........
3,102,856 4,916,862 4,839,886
5,947,585 6,370,302 5 839,700
4,941,221
Total................ $14,605,645 *15,108.830*11,733,122 $14,832,120 $14,731,685 $14,011,324 $13,614,530
L o an s,.................... 61,514,149 71.643,929 66,883,098 74,780.435 71,897,580 72,593,431 68,652,436
Excess of liability, 33,479,607 41,626,574 30,493,406 44,188,476 41,470,071 42,380,678 37,849,386

The loans of these institutions have greatly diminished since May, contrary to
the usual course of affairs, which is, to expand from May to August. The con­
tinued diminution of the government deposits under the war expenditure, and
the increased caution of capitalists consequent upon the apprehensions neces­
sarily growing out of a state of hostilities, have tended to diminish credits. The




393

Commercial Chronicle and Review.

imports into the city of New York, monthly, since April, have been as follows,
with the amount of duty paid:—
IMPORTS AND DUTIES, TORT OF NEW YORE.

Dutiable mdze.

May,....
June,...
July, ...
August,

Free.

Specie.

Total.

Duties.

$4,160,360 $1,300,751 $27,286 $5,488,397 $1,277,227
4,605,527 1,239,006 29,122 5,873,655 1,471,124
5,411,595
729,235 54,879 6,195,709 1,651,652
7,585,427
826,815 44,882 8,457,124 2,183,733

Total 4 mos., 1846,... $21,763,909 $4,095,807 $156,169 $26,004,885 $6,583,736
“
1845,... 21,695,020 4,535,609 375,525 27,516,181 7,342,246
“
1844,... 26,970,659 4,297,247 565,230 31,833,136 8,951,190
This table presents a marked diminution in the imports of dutiable goods, and
the revenues derivable therefrom. Under the same tariff, the decrease is near
$2,500,000 in one-third of a year. The duties for August, 1844, were, however,
the largest ever known in one month, having been over $3,000,000. The large
imports of 1844 were probably the consequence of the very small business done
in 1843. Notwithstanding the diminished amount of imported goods, the prices
are low, and sales moderate at those low prices. A strong impression seemed to
prevail, that the operation of the new tariff after December would cause a great
reduction in prices, and therefore a disposition to buy only from “ hand to mouth ”
was apparent. Most of the goods imported go to warehouse, to remain until re­
leased under the modified taxes of the new tariff, in December. The usual dis­
position to ship goods entitled to drawback, with a view to their re-entry under
the low taxes, which always manifests itself on the eve of the operation of a
modified law, was checked by a treasury circular declaring such an operation as a
fraud upon the revenue. This naturally caused a good deal of dissatisfaction in
the mercantile community. The object of the department was undoubtedly to
save as much of the revenue as possible; but it is exceedingly difficult to recon­
cile this attempt with the policy that allowed the warehouse law to take effect be­
fore the new tariff. Nearly all the goods that arrive, paying high duties under the
present tariff, go into warehouse to avail themselves of the reduction under the
new law. Many of these goods were ordered before the passage of the bill, and
why a distinction is drawn between those goods which arrive, and those that
were already in the country, it is not easy to see. If goods, as sugars, for in­
stance, ordered under high duties, are allowed to be warehoused for the benefit of
low duties, why should not goods, already here, be allowed to be re-exported for
the same object ? It is not probable that the difference in duty between the new
and old law is sufficient to make it an object to pay freight, insurance, demurrage,
and expenses on two passages, for the sake of the difference. The extent to
which the warehousing privilege was availed of, in the latter part of August, is
indicated in the fact, that the imports of dutiable goods were actually but 6 per
cent less in August than in the same month last year, while the duties were 20
per cent less—that is to say, the duties collected in August, 1845, were 34 per
cent of the dutiable imports, and in 1846, they were 28 per cent—a decline of 6
per cent in the average, owing to the quantity of imported goods that went into
warehouse after that act took effect.
In relation to the crop of cotton of the United States, during the past year, we
annex the annual tables, compiled by the senior partner of the firm of Wright &
Lewin, cotton dealers, New York:—




394

Commercial Chronicle and Review.

STATEMENT SHOWING THE WEEKLY AND TOTAL RECEIPTS OF COTTON INTO THE PRINCIPAL PORTS
OF THE UNITED STATES, FROM SEPT.

Date.
1845.
Sept

1, 1845,

N. Orleans. Mobile. Florida. Georgia.

TO AUG.

31, 1846.

S. Car. N. Car.

Grand
total.

Weekly
total.

6,
13,
20,
27,

6,885
10,969
16,067
16,730

738
495
496
488

1,086
494
333
374

614
958
2,477
2,050

709
132
260
59

10,032 •
13,048
19,633
19,701

Total Sept.,

50,651

2,217

2,287

6,099

1,160

62,414

4,
11,
18,
25,

16,999
18,742
24,662
29,694

667
739
5,306
8,936

519
1,562
923
896

653
687
3,273
3,624

4,122
3,044
3,663
6,355

213
134
54

23,173
24,908
37,827
49,559

Total Oct.,

90,097

15,648

3,900

8,237

17,184

401

135,467

1,
8,
15,
22,
29,

28,269
29,644
27,373
30,187
27,604

8,958
3.008
12,596
8,824
6,733

804
302
1,962
494
1,245

2,802
6,034
4,071
3,522
4,905

8,602
8,595
9,392
5,551
5,137

221
174
30
180
28

49,656
47,757
55,424
48,758
45,652

Total Nov.,

143,077

40,119

4,807

21,334

37,277

633

247,247

25,688
15,464
18,774
20,737

6,411
9,748
23,604
22,902

2,068
6,371
3,885
5,838

5,197
3,589
2,883
5,402

4,668
6,008
5,810
6,911

432
12
41
279

44,464
41,192
54,997
62,069

80,663

62,665

18,162

17,071

23,397

764

202,722

22,762
29,245
20,799
22,672
28,782

12,955
20,740
19,954
20,673
25,779

4,880
4,843
6,965
3,190
9,414

6,177
4,524
4,890
2,435
4,130

5,136
6,553
9,291
6,607
6,717

150
111
185
115
100

52,060
66,016
62,084
55,692
74,922

124,260 100,101

29,292

22,156

34,304

661

310,774

37,266 30,218
31,515 21,144
31,515 22,138
44,855 20,646

5,134
6,736
5,336
4,126

4,178
6,413
7,607
5,172

7,335
9,583
3,155
7,459

424
328
73
138

84,555
75,719
69,824
82,396

Oct.

Nov.

Dec.

6,
13,
20,
27,

Total Dec.,
1846.
Jan.

3,
10,
17,
24,
31,

Total Jan.,
Feb.

7,
14,
21,
28,

Total Feb.,

145,151

94,146

21,332

23,370

27,532

963

312,494

March 7,
14,
21,
28,

30,894
46,221
32,743
43,227

14,246
16,103
13,861
8,956

9,003
7,108
7.883
3,314

5.776
9,261
6,116
5,954

5,753
4,072
7,440
5,705

116
106
328
375

68,788
82,871
68,371
67,531

Tot. March,

27,308

27,107

22,970

925

284,561

300
387
776
33

60,954
50,995
55,328
59,317

1,496

226,594

153,085

53,166

April 4,
11,
18,
25,

37,468
29,582
30,755
35,768

9,369
5,136
6,870
8,041

3,367
3,573
5,751
6,141

5,334
3,926
6,071
4,445

5,116
8,391
5,105
4,889

Total April,

133,573

29,416

18,832

19,776

23,501




10,032
23,080
42,713
62,414

85,587
110,495
148,322
197,881

247,537
295,294
350,718
399,476
445,128

489,592
530,784
585,781
647,850

699,910
765,926
828,010
883,702
958,624

1,043,179
1,118,898
1,188,722
1,271,118

1,336,906
1,419,777
1,488,148
1,555,679

1,616,633
1.667,628
1,722,956
1,782,273

395

Commercial Chronicle and Review.
STATEMENT— CONTINUED.

2,
9,
16,
23,
30,

26,592
14,785
25,622
16,796
8,360

7,385
3,600
3,981
2,026
1,648

3,231
1,957
3,081
1,933
754

7,421
5,035
4,093
5,341
3,881

5,703
6,341
6,242
5,315
3,976

641
58
433
380
136

Total May,

92,155

18,640

10,956

25,771

27,577

1,648

176,747

6,
13,
20,
27,

4,342
4,264
2,073
2,507

1,519
727
684
693

1,216
1,617
550
386

1,400
1,446
871
2,380

2,293
1,271
2,059
722

135
158
150
37

10,905
9,483
6,387
6,725

Total June,

13,186

3,623

3,769

6,097

6,345

480

33,500

4,
11,
18,
25,

2,284
2,672
921
1,962

489
258
577
257

240
200
82

1,149
1,012
1,003
1,310

9,804
2,418
2,048
2,449

.
86
. 28
130

13,966
6,646
4,659
6,108

Total July,

7,839

1,581

522

4,474

16,719

244 '

31,379

1,
8,
15,
22,
31,

3,259
1,001
1,098
708
1,590

505
120
98
44
543

176
.82
350
246
1,450

2,163
1,707
1,430
1,779
6,165

1,564
2,028
1,628
641
2,639

26
90
73
1,073

7,693
4,938
4,694
3,491
13,460

Total Aug.,

7,656

1,310

2,304

13,244

8,500

1,262

34,276

May

June

July

Aug.

50,973-1,833,246
31,776 1,§65,022
43,452 1,908,474
31,791 1,940,265
18,755 1,959,020

1,969,925
1,979,408
1,985,795
1,992,520

2,006,486
2,013,132
2,017,791
2,023,899

2,031,592
2,036,530
2,041,224
2,044,715
2,058,175

Grand total, 1,041,393 442,632 141,184 190,924 251,405 10,637 2,058,175
Add crop of Texas,................................................................................
“
Virginia,............................................................................
Add receipts at Philadelphia and Baltimore over land,......................
Add difference in stock at Augusta this year and last,......................

27,008
13,282
3,000
3,987
47,277

Deduct Texas cotton received at New Orleans,.................
“
“
“
Mobile,............................

4,249
666
---------

4,915
---------

42,362

Total crop of the United States for 1845-46,............................................... 2,100,537

This year, the crop of Texas is added to that of the Union, swelling the amount
by 27,000 bales, exceeding the joint crops of North Carolina and Virginia, which,
but a few years ago, formed an important item in the whole crop.
STATEMENT SHOWINS THE COMPARATIVE RECEIPTS, EXPORTS, AND STOCKS OF COTTON FOR A L L
THE PORTS IN THE UNITED STATES, AS MADE UP IN NEW YORK ON THE FIRST OF EACH MONTH,
FOR THE YEARS 1845-46, AND 1844-45.

Date.—October 1 ,...
November 1,.
December 2,.
.—January 1 , . ..
February 2, .
March 1 , .......
April 1,.........
May 1 ............
June 2,.........
July 1 , .........
August 1.......
September 2,.




Rec’ipts Rec’ipts
To
from 1st from 1st
Sept’r,
Sept’r,
Great
1845.
1844.
Brit’n.
44,763
35,937
16,424
175,376 164 031
67,920
413,689 379,870 158,024
581,959 711,436 244,709
891,352 983,006 348,545
1,190,584 1,418,017 427,550
1,516,131 1,883 662 584.078
1,747.947 2,148,494 665,554
1,966,351 2.306.391 786,392
2,009.299 2,361,749 922,989
2.042,262 3 399,149 3,031,146
2,082,176 2,413,123 1,092,940

EX PO RTS.

France.
8,223
19.360
47,466
71,827
104,113
124,485
165,739
198,071
276,669
312,072
333 577
357,860

North
of
E ur’e.
2,751
7,150
11,487
11,664
12,267
12,594
25,295
37,075
51,137
61.943
69,743
86,598

Other
for’gn
ports.
1,242
1,836
6,543
19.735
24,966
32,439
48,591
65,154
85,364
99,776
106,604
117,428

Tot. from Tot.fr’m
Sep., ’45, Sep. ’44,
to (late. to date.
28,645
48,730
96,266 130.396
223,520 217,312
347,935 401,801
489 891 608.089
597,168 824.957
823,703 1,134,967
965,852 1,467,354
1.199,562 1,765,568
1,396,780 1,983,042
1,541,070 2,054,831
1,654,832 2,079,177

396

Commercial Chronicle and Review.

E S T IM A T E D S A L E S O F C O T T O N

Date
1845.
Sept 15,
30,
Oct. 14,
31,
Nov. 15,
29,
Dec. 15,
31,
1846.
Jan. 15,
31,
Feb. 16,
28,
Mar. 14,
31,
April 15,
30,
May 15,
30,
June 15,
30,
July 15,
30,
Aug. 15,
31,

Sales.

IN N E W T O R E — P R IC E S — R A T E O F F R E IG H T — E X C H A N G E , E T C .

12,600
20,000
20,000
15,000
10,000
14,000
11,000
7,500

Fair Up’ds. Fair Orleans. Ft. to Liverp’l.
sq.
rd.
1-4 5-16
S i a 84
84 a 9
a
1-4 5-16
9
8 i a 84
94
9 a 94
3-8 7-16
84 a 84
a
a
84
9
3-8
7-16
8i
84
5-16 3-8
74 a 74
84 a 84
5-16 3-8
74 a n
84 a 84
3-16 1-4
8 a 84
84 a 9
3-16 3-16
7} a 8
84 a 84

6,000
8,000
12,500
17,000
14,000
10,000
13,000
13,000
23,000
20,000
30,000
13,000
12,500
15,000
12,000
25,000

74
74
74
8
84
84
8
84
8
8
8
8
8
84
8f
94

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

74
74
84
84
84
84
8*
84
84
84
84
8 ii
8.4
9
94

84
84
84
84
9
94
9
94
84
84
84
84
84
9
94
94

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

84
84
84
9
94
94
94
94
9
9
9
9
9
94
94
10

3-16
3-16
1-4
1-4
1-4
3-16
3-16
1-4
5 16
3-8
3-8
1-4
7-32
3-16
3-16
1-4

3-16
1-4
5-16
5-16
5-16
3-16
1-4
5-16
3-8
1-2
1-2
5-16
5-16
5-16
5-16
5-16

Exch. ion Paris.

Ex. onLond.

5 23| a
5.25 a
5.23J a
5.264, a
5.264 a
5.274 a
5.274 a
5.264 a

94 a 10
94 a 10
94 a 10
9 a 94
84 a 9
8 a 84
8 a 84
84 a
9
84
84
8
84
84
94
94
94
94
84
74
74
7
74
74
84

5.224
5.234
5.25
5.25
5.264
5.264
5.25

a 84 5.284 a 5.264
a 84 5.28| a 5.274
a 84 5.284 a 5.274
a 84 5.284 a 5.274
a 9
5.274 a 5.264
a 10
5.25 a 5.234
a 94 5.264 a 5.25
a 10
5.264 a
a 10
5.284 a 5.274
a 9
5.35 a 5.324
a 84 5.35 a 5.324
a 8
5.364 a 5.35
a 74 5.40 a 5.374
a 74 5.40 a 5.374
a 8
5.40 a 5.374
a 9
5.314 a 5.30

This table indicates a remarkable steadiness in the price of cotton. The rates
of exchange have ruled low. During the preceding years the variation was not
J per ct., and in the previous year 2 per ct. This year it has been fully 2 J per ct.
S T A T E M E N T S H O W IN G T H E

M ONTHLY

IM P O R T

OF

C O T T O N IN T O N E W

YORK ,

FRO M

1ST S E P T E M B E R , 1 8 4 5 , TO 3 1 S T A U G U S T , 1 8 4 6 .

1845.—September,.
October,....
November, ,
December,..
1846.—January, ....
February,...
M arch,.......
April,.........
May,..........
J u n e ,........
July............
August, ....
Total...............

N. Orleans. Mobile.
516
681
1,769
2,835
8,980
3,303
4,908
3,052
2,414
3,974
3,199
5,394
10,490
12,714
10,621
15,004
4,338
2,690
4,111
3,088
3,320
3,737
4,663

Florida.
621
541
3,307
4,697
4,367
5,480
10,138
9,384
6,474
3,421
2,488
4,828

Georgia.
3,992
1,823
5,250
3,646
3,566
3,748
8,215
11,350
6,025
5,437
5,876
3,879

S. Car.

N. Car.

6,616
4,173
6,060
5,245
4,573
5,349
6,012
5,090
3,903
4,479
1,815
4,127

1,115
446
453
763
955
541
1,082
2,045
1,019
454
244
189

71,087

56,196

62,807

57,442

9,306

44,714

S T A T E M E N T -----C O N T I N U E D .

Va.

1845.—September,.
October, ...
November,.
December,..
1846.—January, ...
February,..,
March,.......
April..........
May,...........
June,..........
July............
August,.....




398
89
422
68
222
268
536
428
496

Baltimore, etc. Boston.

453
921

101

1
46
247
54
70
157

10

Texas.

Oth. for. pts. Gr. total.

208
684
1,077
638
453
903
618
1,191
728
957

14,392
10,071
27,991
23,714
19,887
23,013
42,770
52,790
38,697
21,374
17,858
21,588

7

100
34

8

397

Commercial Chronicle and Review.

The state of trade in Great Britain, for the first six months of 1846, has been pecu­
liar. It has been marked, according to official tables, by a great increase in the import
of food, as compared with 1845, and a decrease in the import of raw materials. The
Parliamentary tables give the following figures:—
IMPORTS INTO THE UNITED KINGDOM, FROM JANUARY

Food-

184$.

1846.

Live cattle,............ No. 6,899
25,499
Beef, pork, &c.,..cwt. 70,311
122,230
Flour,....................cwt. 97,487 2,197,554
Grain,.....................qrs. 543,898 2,301,949

5

TO JULY

Raw materials.

5.

184$.

1846.

Cotton,...............cwt. 3,892,980 2,402,170
Flax,...................cwt.
463,368 296,076
Hem p,...............cwt.
199,286 167,183
Wool,.................. lbs. 26,749,779 25,812,549

This is a singular result. The six months embraced in the table, however, has been a
period of severe trial to commerce, inasmuch as that not only have the railway specula­
tions created great uneasiness in the financial circles, but the government has been en­
gaged in bringing about one of the greatest revolutions in commercial legislation that
ever took place—viz: the passing through Parliament of a bill to extend entire free trade
to corn and bread-stuffs. The course of the struggle has involved three changes of min­
istry, and might well, from the consequences attributed to the change of policy, paralyze
the free circulation of capital, and retard enterprise. Nevertheless, the internal trade of
the country has been such as to warrant the introduction of enormous quantities of food;
and, as illustrative of what we have said in the fore-part of this article, we may append
the returns of the Bank of England, showing that that import of corn has not affected the
specie in the vaults of the bank:—
LEADING FEATURES OF THE BANK OF ENGLAND.
s e c u r it ie s .
d e p o s it s .
Nett circu- Notes on
1846.
Public.
Private.
Public.
Private.
lation.
hand.
Bullion.
January 3 d ,.... £13,201.072 £16.262.593 £9.369.630 £8,350.465 £20,257,415 £6.418,510 £13,281,472
February 7th,... 13,137,047 22,908,661 5,054,438 18.912,445 20,434,995 6,263,625 13,335,045
April 4th........... 13,136,440 22,058.613 7,047,026 16.763.047 19,865.565 7,316,415 13.825,521
June 6th............ 12,988,065 18,321.641 5,753,512 15.927.013 19,856.820 8,468.180 15,011.692
August 2 2 d ,.... 12,961,735 13.012,824 6,843,002 10,074,026 20,147,965 9,506,025 16,176,666

The large amount of private deposits in February were on account of the railways, and
the private securities were probably also swollen in amount to facilitate the making of those
deposits. The amount loaned to individuals is now, it appears, reduced by near ten mil­
lion pounds, while the bullion on hand has increased by near three million pounds. The
bank, under such circumstances, was naturally anxious to increase its business, and re­
duced the rate of interest on loans from 3£ to 3 per cent. It is remarkable that this large
increase of bullion, and reduction of interest, has taken place in the face of a deficient
harvest, and after the actual importation of so large a quantity as 2,301,949 qrs. of all
kinds of grain, and 2,197,554 cwts. of flour, worth near $22,000,000, in six months.
This fact is a marked illustration of the statements we made above, in relation to the vast
change which has overtaken the corn trade of England. W hen we reflect that this de­
mand for food is likely to continue in the face of a more abundant supply of money, and
that the United States are alone in a situation to supply that demand, the prospects of
business become exceedingly flattering. The quotations of wheat, at the latest dates,
were as follows _
Flour.
W heat.
28s. or $ 6 72
45s. or ^ 1 30 per bushel
Liverpool, Aug. 22d, barrel,........
((
33
6 27
46
1 37
Havre,
“
* .....
it
30
90
Odessa,
“ 13th, i t
a
42
1 25
Leghorn,
“ 20th, i t
it
43
1 28
Rostock,
“ 26th, t i
tt
46
..
....
Stettin.
“ 26th, i t
1 37
48
1 43
Dantzic,
“ 25th, i i
“
The prices are lower in Liverpool than in the North of Europe ports. The accounts
in relation to the new crop appear to regard the wheat crop as an average, and the potato
crop so disastrously bad that the root is thought to be nearly extinct, and Indian corn
must be the substitute.




398

Commercial Regulations.

COMMERCIAL

REGULATIONS.

DRAWBACK ON M ERCHANDISE IM PO RTED

IN T O T H E U. STA TES

FROM THE BRITISH NORTH AMERICAN PROVINCES.

I n the “ Merchants' Magazine and Commercial Review” for September, 184G, (No. 3>
Vol. XV., page 309,) we published an act passed at the last session of Congress, allowing
a transit through our railroads, canals, and rivers, of exports from Canada for foreign
countries. That law was passed in pursuance of a recommendation of the Secretary of
the Treasury, in his Report of December, 1846. Its tendency is to divert the trade of
Canada from the St. Lawrence to the better and cheaper outlets from New York and
Boston. The Secretary of the Treasury, under date, Treasury Department, September
9th, 1846, has addressed a circular to collectors and other officers of the customs, calling
their attention to, and explaining the provisions of the act, as follows:—
It is to be observed that the act allows drawback on any merchandise imported from
the British North American provinces adjoining the United States, which shall have been
duly entered, and the duties paid or secured according to law, at either of the ports of en­
try in the collection districts situated in the northern, northeastern, and northwestern por­
tions of the United States, and authorizes such merchandise to be transported, by land or
by water, or partly by land and partly by water, to any port or ports from which mer­
chandise may, under existing laws, be exported for the benefit of drawback, and be thence
exported with such privilege to any foreign country. All such goods are, however, re­
quired to be exported within one year from the date of importation. Where goods are
entered and the duties paid at the port of arrival on the frontiers referred to, and intend­
ed to be transported for exportation from another port, such transportation must be made
in conformity with existing laws regulating the transportation of merchandise for benefit
of drawback. In granting debenture in the cases, a deduction of 2± per cent must be
made from the drawback.
It is, moreover, to be observed that any dutiable merchandise imported into the ports
referred to from the adjoining British provinces, is entitled to the privileges and benefits
granted by the warehousing act of the 6th of August, 1846, if the importers choose to
avail themselves of such privileges and benefits. Consequently, any such merchandise
not entered for consumption, may be warehoused at either of the said ports, and be sub­
sequently withdrawn therefrom for transportation to other ports of entry to be re-ware­
housed thereat, and be exported directly from warehouse to any foreign port on payment
only of storage and expenses. In all such cases, therefore, the regulations and forms
prescribed in the circular issued by the department under date of the 14th ult., for the
government of the officers of the customs, in carrying into effect the warehousing act,
must be strictly complied with.
Any articles of merchandise subject to ad valorem duty, imported into the frontier ports
before referred to, which are not of the growth, manufacture, or production of the British
provinces alluded to in the act, must pay duty upon “ the current market value or whole­
sale price of similar articles at the principal markets of the country of production or
manufacture at the period of the exportation of said goods, wares, and merchandise, to
the United. States.” To this value is to be added all cost3 and charges, except insurance,
and including, in every case, a charge for commissions at the usual rates.
For the appraisement of merchandise at ports where there are no legal appraisers, the
appraisement is to be made in the manner indicated in the 16th section of the act of 1st
March, 1823, to wit: by two respectable resident merchants of the port, duly appointed
by the collector for the purpose, to receive for their services^ while actually employed on
that duty, a compensation of five dollars per diem, each, as authorized by the 17th sec­
tion of the same act.
It is specially enjoined upon the officers of the customs at ports to which merchandise
may be transported under this act, either for exportation therefrom to a foreign port for
benefit of drawback, or to be re-warehoused thereat, and especially in the case of foreign
spirits and wines, to have such merchandise carefully inspected and examined, to ascer­
tain that the packages, boxes, casks, &c., contain the identical articles described in the
transportation certificate accompanying the same, without diminution or change of the
article, in any respect, having taken place during the transportation.
R. J. W ALKER, Secretary of the Treasury.




Commercial Regulations.

399

DRAWBACKS ON FOREIGN MERCHANDISE.
TREASURY CIRCULAR.

The Secretary of the Treasury has addressed the following circular to collectors and
other officers of the customs, in reply to the inquiries made by merchants in relation to
goods, &c., shipped to a foreign port, and there landed, with the intention of being
brought back and re-landed.
T r e a s u r y D e p a r t m e n t , August 25th, 1846.
The department has been asked by merchants whether foreign goods, wares, and mer­
chandise, on which the import duty has been paid, can be entered for exportation for
benefit of drawback, and shipped to a foreign port and there landed, but with the inten­
tion of being brought back and re-landed in the United States, and entry made of the
same goods at the rates of duty imposed by the tariff act of the 30th July, 1846.
In view of this inquiry, and the important public interests involved, it is deemed proper
at this juncture to issue instructions on the subject, for the government of the officers of
the customs, and for the information of merchants and others interested in the matter.
As this subject has heretofore received the consideration and decision of the depart­
ment, and instructions duly issued, in accordance therewith, it is deemed proper at this
time to recapitulate former instructions, and enjoin upon the respective officers of the
customs, a strict conformity therewith.
In a circular issued by the First Comptroller, under date of the 15th November, 1830,
with the concurrence of the then Secretary of the Treasury, the following decision is
communicated for the government of the officers of the customs, viz: “ It has been sup­
posed by some merchants, that when the duty on a certain article is reduced by law, no­
thing more is necessary, in order to obtain the benefit of the reduction on previous im­
portations of it, than merely to comply with the forms of entering and shipping it, for
benefit of drawback, without any intention whatever of selling, or even landing it at a
foreign port, and then bringing it back to the United States and entering it at the low
rate of duty. Such a course, however, is considered to be totally irreconcilable with the
oath which the 76th section of the collection law of 2d March, 1799, requires the ex­
porter to take, and which is in the following words: ‘ And the said exporter, or exporters,
shall likewise ma^e oath, that the said goods, so noticed for exportation, and laden on
board such ship or vessel previous to the clearance thereof, or within ten days [twenty
days allowed by the 2d section of the act of the 18th April, 1820] after such clearance,
are truly intended to be exported to the place whereof notice shall have been given, and
are not intended to be re-landed within the United States.”
In a more recent circular from the department, dated the 29th of July, 1845, in refer­
ence to Texas, but deemed specially applicable to the question now under consideration,
the views and directions of the department are more specifically given in the following
extracts therefrom, to w it:—
“ By the 80th section of the act of Congress of the 2d of March, 1799, it is provided:
*That the collector aforesaid may refuse to grant such debenture or debentures, in case it
shall appear to him that any error has arisen, or any fraud has been committed, and in
case of such refusal, if the debenture or debentures claimed shall exceed one hundred
dollars, it shall be the duty of the said collector to represent the case to the Comptroller
of the Treasury, who shall determine whether such debenture or debentures, shall be
granted or not.’ An entry for drawback, with a view to re-importation, free of all duty,
into the United States, is a frand, within the meaning of this a ct; and in all such cases,
it is the duty of the collector to refuse the debenture certificate. In all cases where the
debenture shall not exceed one hundred dollars, the collector will judge for himself, whe­
ther such fraud as is before designated is contemplated; and, in the language of the law,
*if the debenture or debentures claimed shall exceed one hundred dollars, it shall be the
duty of the said collector to represent the case to the Comptroller of the Treasury, who
shall determine whether such debentufe or debentures shall be granted or not.’
“ By the 76th section of the act of the 2d March, 1799, it is provided as follows:
‘ And the said exporter or exporters shall likewise make oath that the said goods, so no­
ticed for exportation, and laden on board such ship or vessel, previous to the clearance
thereof, or within ten days after such clearance, are truly intended to be exported to the
place whereof notice shall have been given, and are not intended to be re-landed within
the United States, otherwise the said goods, wares, and merchandise shall not be enti­
tled to the benefit of drawback.’
“ If then, in point of fact, the goods thus exported to Texas, are intended ‘ to be re­
manded within the United States,’ they are not entitled to drawback, and if re-landed, are




400

Commercial Regulations.

subject to seizure and forfeiture, as well as the vessel in which they are thus introduced.
Great vigilance will be required in obtaining ample security upon all export bonds, as
those bonds may not be cancelled in any case of exportation of goods to Texas with the
privilege of drawback, until the numerous and important questions arising under such
bonds, shall have been finally adjudicated.
“ You will in no case omit to publish in the newspapers, as now required by law, the
names of all persons who shall be found guilty of the violations of the revenue laws
therein prescribed, as well as to seize for forfeiture, the goods, vessel, tackle, apparel and
furniture, in all such cases.”
It must be obvious from the foregoing, that the oath prescribed by law, could not be
taken by an exporter, and the goods so exported be re-landed in the United States, with­
out subjecting said exporter to the penalties prescribed for peijury, and the goods to for­
feiture.
An entry for drawback, with a view to the re-importation of goods at the lower duty,
into the United States, is a fraud within the meaning of the 80th section, before quoted,
of the act of March 2d, 1799, and in all such cases, it is the duty of the collector to re­
fuse the debenture certificate, or pursue the course indicated in the circular before quoted,
of the 29th July, 1845.
R. J. W ALKER,
Secretary of the Treasury.
TREA SURY CIRCULAR ON T H E W AREHOU SING SYSTEM .
In order that the latest information on the subject of warehousing merchandise under
the act passed at the last session of Congress, may be received by all persons interested
therein, the following instructions addressed by the Secretary of the Treasury to the col­
lectors, and other officers of the customs, are now published in the “ Merchants’ Magazine
and Commercial Review.” Copies of these instructions have been transmitted to the
respective officers of customs, together with the forms necessary to accompany the same.
Merchants and importers will find the forms referred to in the following circular, at the
different custom-houses in the United States:—
T r e a s u r y D e p a r t m e n t , August 14th, 1846.
The following instructions and forms are transmitted for the information and govern­
ment of the officers of the customs in carrying into effect the provisions of the annexed
act of Congress, approved 6th August, 1846, entitled “ An act to establish a warehousing
system, and to amend £An act to provide revenue from imports, and to change and modify
existing laws imposing duties on imports, and for other purposes,” approved 30th Au­
gust, 1842.
It is to be remarked that goods, wares, or merchandise entitled to entry for warehous­
ing, are such only as shall have been actually imported after the passage of the act “ re­
ducing the duty on imports, and for other purposes,” approved 30th July, 1846, vide 6th
section. All goods, wares, or merchandise, imported prior to 30th July, 1846, yet on de­
posit in public store, the duties on which have not been paid, are subject to the payment
of the duty and charges imposed by the tariff act of 1842.
Where owners, importers, consignees or agents desire to warehouse their goods, due
entry in writing must be made in each case, according to the form accompanying these
instructions, marked A, and a bond taken with surety or sureties to the satisfaction of the
collector, in double the amount of the duties, according to the form marked B.
In making entry of any goods, wares, or merchandise to be warehoused, all acts neces­
sary to determine their exact quantity, quality, and original cost, and dutiable value, such
as appraising, weighing, guaging, or measuring, in order to ascertain the precise amount
of duty chargeable on the importation, must be performed and complied with.
Any goods, wares, or merchandise, proposed to be withdrawn from warehouse for
home consumption, prior to the second day of December next, the day on which the new
rates of duties take effect under the act of 30th July last, must be entered, and the duties
with interest and other charges imposed by the act of 30th August, 1842, must be duly
paid before granting permit for the delivery of any such goods, wares, or merchandise.
Due regard must be paid to the restrictions imposed in the act, in the withdrawal of mer­
chandise from warehouse, to wit: in no case, “ a less quantity than an entire package,
bale, cask, or box,” or if in bulk, then only “ the whole quantity of each parcel, or a
quantity not less than one ton weight, unless by the special authority of the Secretary of
the Treasury,” can be withdrawn and delivered.
Where it is intended to withdraw any goods, wares, or merchandise from warehouse




Commercial Regulations,

401

for transportation to any other port of entry, to be re-warehoused thereat, in pursuance of
the second section of the act of 6th August, to establish a warehousing system, twentyfour hours’ notice, at least, must be given to the collector of such intention, and entry
made according to form C, and the transportation is to be made under the regulations
provided in the act of 2d March, 1799, in respect to the transportation of goods, wares,
and merchandise, from one collection district to another, to be exported with the benefit
of drawback.—Hence, goods may be transported from any port of entry to any other port
of entry in the United States, subject to the regulations prescribed by the before men­
tioned act.
On making a transportation entry, a bond must be given by the owner of the merchan­
dise to be withdrawn for transportation, with sufficient sureties, in double the amount of
the duties chargeable thereon, according to the form herewith marked D; which bond is
to be cancelled on the production of a certificate, duly authenticated, from the collector
of the port to which the goods may be transported, certifying that the identical goods
stated in the transportation certificate have been duly entered and re-warehoused in pub­
lic store in his collection district, and bond given for the duties.
On the withdrawal of any such goods from warehouse at any port, the storage and
other charges that may have accrued thereon, must be duly paid. On re-deposit or re­
warehousing of any transported goods as aforesaid, due entry must be made and bond ta­
ken in the forms herewith marked E and F.
For the purpose of distinguishing goods which may have paid duty under the new ta­
riff act, which goes into operation on the second day of December next, that may be with­
drawn for consumption after said day, and entitled to drawback, if exported within the
time prescribed by law, from other imports on which duty was paid under the tariff act of
30th August, 1842, it becomes proper that suitable marks should be placed on all goods
that may be withdrawn as aforesaid, to identify the same so as to prevent mistake or im­
position in the allowance of drawback.
Goods, wares, or merchandise, entered for warehousing, must be conyeyed from the
vessel or wharf where landed, to the warehouse, under the special superintendence of an
inspector of the customs, in drays, carts, or other usual modes of conveyance, to be em­
ployed on public accgunt, by the proper officer of the customs, and the expense at the
rates usually paid for such service at the port in question, is to be defrayed at the time by
the person who enters said goods, wares, or merchandise, for warehousing. In cases
where goods, wares, or merchandise, imported after the passage of the act of the 30th
July, 1846, are intended to be exported directly from warehouse to a foreign country, en­
try must be made according to form herewith marked G, and bond given according to
form H, and such exportation be otherwise made in the manner now required by existing
laws relating to exportations for the benefit of drawback. In all such cases the appro­
priate expenses are to be paid before granting permit for exportation.
All stores used for warehousing purposes are to be rented by the collector on public ac­
count, and paid for as such, and appropriated exclusively to the storage of foreign mer­
chandise, which is to be subject to the usual rates of storage existing at the respective
ports where such stores may be hired or rented. Appropriate warehouses must be pro­
vided for goods of a perishable nature, as well as for gunpowder, fire-crackers, and explo­
sive substances, having due respect to existing municipal regulations.
For warehousing of coal, woods of various kinds, &c., yards well enclosed, and se­
cured to the satisfaction of the collector, may be hired or rented, and the usual rates for
storage are to be charged on all articles deposited therein. Care must be observed by col­
lectors in renting stores, to select those of a substantial and secure character, and fire­
proof where they can be obtained, and the rents stipulated for must be as reasonable as
can be procured. Before entering into any lease of stores, the opinion and approval of
the department must first be obtained.
Where any goods, duly warehoused, shall remain in store beyond one year without
payment of the duties and charges thereon, which, in pursuance of the act, are required
to be appraised and sold, the department hereby prescribes that all such sales shall take
place within thirty days after the expiration of the year, and due notice of such sales must
be published in two or more of the public newspapers having the most extensive circula­
tion at the port in question, daily at the principal ports for the space of ten days, and at
the other ports three times a week, or as often as one or more papers may be published
thereat, for the space of two weeks. But as the law provides th a t<£all goods of a per­
ishable nature, and all gunpowder, fire-crackers, and explosive substances, deposited as
aforesaid, shall be sold forthwith,” they must be sold at the earliest day practicable, after
due publication of notice, and time given for inspection by persons desirous of purchasing
the same.
R. J. W ALKER, Secretary of the Treasury.
VOL. XV.----NO. IV .




26

402

Commercial Regulations.

CO FFEE IM PORTED IN T O U. ST A T E S FROM T H E NETHERLA NDS,
The following “ Act to exempt Coffee imported from the Netherlands from duty in
certain cases, and for other purposes,” passed both Houses of Congress at the last session,
and was approved by the President of the United States, August 3d, 1846 :—
AN ACT TO EXEMPT COFFEE IMPORTED FROM THE NETHERLANDS FROM DUTY IN CERTAIN CASES,
AND FOR OTHER PURPOSES.

Be it enacted by the Senate and House of Representatives o f the United States o f
America, in Congress assembled, That, from and after the passage of this act, coffee, the
production or growth of the colonies or dependencies of the Netherlands, imported into
the United States from the Netherlands, either in Dutch or American vessels, shall be
admitted free of duty; and so much of the act approved the thirtieth day of August, one
thousand eight hundred and forty-two, entitled “ An act to provide revenue from imports,
and to change and modify existing laws imposing duties on imports, and for other pur­
poses,” as is inconsistent herewith, be, and the same is hereby repealed.
Sec. 2. A nd be it further enacted, That the Secretary of the Treasury be, and he
hereby is, authorized and required to refund and pay, out of any money in the treasury
not otherwise appropriated, to the several persons or parties entitled to the same, the
amount of duties levied and collected upon the importations of coffee in American ves­
sels from the Netherlands, the production or growth of the colonies or dependencies of
the Netherlands, between the thirtieth day of August, eighteen hundred and forty-two,
and the eleventh day of September, eighteen hundred and forty-five.
Sec. 3. A nd be it further enacted, That the Secretary of the Treasury be, and he
hereby is, authorized and required to refund and pay, out of any money in the treasury
not otherwise appropriated, to the persons or parties severally entitled to receive the
same, the amount of discriminating tonnage duties heretofore levied and collected on
Spanish vessels coming from foreign countries, (except from Cuba and Porto Rico,) under
the act approved the thirteenth day of July, eighteen hundred and thirty-two, entitled
“ An act concerning tonnage duties on Spanish v e s s e ls a n d from and after the passage
of this act, no discriminating tonnage duties shall be levied on Spanish vessels coming
from foreign countries, except those coming from Cuba or Porto Rico.

T H E OREGON T R E A T Y .
W e publish, below, an official copy of the articles of a Treaty between the United
States of America and Her Majesty the Queen of the United Kingdom of Great Britain
and Ireland, concluded and signed by their Plenipotentiaries, (James Buchanan and
Richard Packenham,) on the loth of June, 1846, and which was duly ratified on both
parts, and the respective ratifications of the same exchanged at London, on the 17th of
July, 1846, by Louis M’Lane, Envoy Extraordinary and Minister Plenipotentiary of the
United States, and Viscount Palmerston, Her Britannic Majesty’s Principal Secretary of
State, on the part of their respective governments.
A rt . I. From the point on the forty-ninth parallel of north latitude, where the bound­
ary laid down in existing treaties and conventions between the United States and
Great Britain terminates, the line of boundary between the territories of the United States
and those of Her Britannic Majesty shall be continued westward along the said fortyninth parallel of north latitude to the middle of the channel which separates the continent
from Vancouver’s Island; and thence southerly, through the middle of the said channel,
and of Fuca’s Straits, to the Pacific Ocean: Provided, however, That the navigation of
the whole of the said channel and straits south of the forty-ninth parallel of north lati­
tude remain free and open to both parties.
A rt . II. From the point at which the forty-ninth parallel of north latitude shall be found
to intersect the great northern branch of the Columbia River, the navigation of the said
branch shall be free and open to the Hudson’s Bay Company, and to all British subjects
trading with the same, to the point where the said branch meets the main stream of the
Columbia, and thence down the said main stream to the ocean, with free access into and
through the said river or rivers ; it being understood that all the usual portages along the
line thus described shall in like manner be free and open. In navigating the said river
or rivers, British subjects, with their goods and produce, shall be treated on the same




Commercial Regulations.

403

footing as citizens of the United States; it being, however, always understood that noth­
ing in this article shall be construed as preventing, or intended to prevent, the govern­
ment of the United States from making any regulations respecting the navigation of the
said river or rivers, not inconsistent with the present treaty.
A rt . III. In the future appropriation of the territory south of the forty-ninth parallel
of north latitude, as provided in the first article of this treaty, the possessory rights of
the Hudson’s Bay Company, and of all British subjects who may be already in the oc­
cupation of land or other property lawfully acquired within the said territory, shall be
respected.
A rt . IV. The farms, lands, and other property, of every description, belonging to the
Puget's Sound Agricultural Company, on the north side of the Columbia River, shall be
confirmed to the said company. In case, however, the situation of those farms and lands
should be considered by the United States to be of public and political importance, and
the United States government should signify a desire to obtain possession of the whole,
or of any part thereof, the property so required shall be transferred to the said govern­
ment, at a proper valuation, to be agreed upon by the parties.
A rt. V. The present treaty shall be ratified by the President of the United States, by
and with the advice and consent of the Senate thereof, and by Her Britannic Majesty;
and the ratifications shall be exchanged at London, at the expiration of six months from
the date hereof, or sooner, if possible.
N E W T A R IFF O F T H E PAPAL STATES.
W e find, from the following announcement, that his Holiness, the newly elected Pope,
is acting the part of a commercial reformer. The subjoined translation of an official no­
tice, published July 2d, 1846, announces some important reductions:—
OFFICIAL DOCUMENT.

“ His Holiness our Lord, with the view of applying useful reforms to sundry articles
of the existing customs tariff, whilst he has ordered us to confirm the generous premiums
established in favor of the manufacturers of woollen cloths by the notifications of the 21st
of August, 1835, and the 11th of April, 1842, has authorized us, viva voce, to publish the
following resolutions:—
“ The import and export duties on the articles enumerated in the following prospectus
are reduced to the rate therein indicated.
“ This modification will take effect in the declarations for duty which shall be present­
ed at the custom-houses, dating from the 7th of the current month. From the said day
thenceforward, the introduction and deposit of any finished article of clothing whatsoever
will no longer be allowed in the ports and the free cities of Ancona and Civita Vecchia,
under the pain of immediate confiscation.
“ The same arrangements will take effect for the city of Sinigaglia in future years,
during the fair.
IMPORT DUTIES.
A R T IC L E S .

D U T IE S .

Scudi. Baj.

1. Woollen cloths of every description, per 100
Roman lb. nett,...................................................
25 0
2. Common woollen manufactures,..................... No alteration.
3. Pure silk manufactures, per 100 Roman lb. nett,
100 0
4. Manufactures of mixed materials, silk, &.C.,
per 10p Roman lb. nett,....................................
50 0
5. Cotton manufactures, per 100 Roman lb. nett,
8 0
Sugar, raw and refined, per 100 Roman lb.
gross,....................................................................
Coffee, per 100 lb. gross,........................................
export

1 80
2 40

REM A RK S.

Formerly 60 sc., re­
duced 58£ per cent.
No alteration.
Formerly 100 sc., re­
duced 50 per cent.
Formerly 12 sc., re­
duced 23£ per cent.
Formerly 3 sc., re­
duced 40 per cent. <
Formerly 2 sc. 75 lb.
reduced 13 per cent.

d u t ie s .

White or colored cocoon silk, per 100 lb. gross,.
0 60
Formerly half, now
Raw tartar, per 100 lb. gross,...............................
0 50
doubled.
“ Given from our residence of Monte Citorio, the 2d July, 1846.’




404

Commercial Statistics.

COMMERCIAL

STATISTICS.

T RA D E AND COMMERCE O F N E W ORLEANS.
T he annual statement of the “ New Orleans Price Current, Commercial Intelligencer,
and Merchants’ T r a n s c r ip twhich is prepared with remarkable accuracy, for the year
ending August 31, 1845, has reached us, and, as usual, we proceed to lay it before the
readers of the “ Merchants' Magazine and Commercial R e v i e w The statement in­
cludes the exports of cotton, tobacco, sugar, molasses, flour, pork, bacon, lard, beef, lead,
whiskey, and corn; also the imports of produce into New Orleans from the interior,
the prices of various products, and the arrivals of shipping at New Orleans. It is matter
of regret that similar statements of the trade and commerce of all our commercial towns
and cities are not annually prepared for publication.
EXPORTS OF COTTON FROM NEW ORLEANS, FOR SIX TEARS, COMMENCING ON THE
SEPTEMBER, AND ENDING ON THE 3 1 ST OF AUGUST.

1ST OF

CO TTO N — B A L E S .

W h ith e r exported.

Liverpool.............................
London................................
Glasgow and Greenock....
Cowes, Falmouth, &c.......
Cork, Belfast, &,c...............
Havre...................................
Bordeaux.............................
Marseilles............................
Nantz, Cette, and Rouen..
Amsterdam-........................
Rotterdam and Ghent.......
Bremen................................
Antwerp, &c.......................
Hamburg..............................
Gottenburg..........................
Spain and Gibraltar...........
Havana, Mexico, & c.........
Genoa, Trieste, &c...........
Other foreign ports.............
New Y ork..........................
Boston.................................
Providence, R. I................
Philadelphia........................
Baltimore............................
Portsmouth.........................
Other coastwise ports.........
Western States...................
Total............................

1845-46.
5 2 1 ,9 5 3
159
1 7 ,8 9 3
8 ,1 3 4
1 4 ,1 8 1
1 4 6 ,1 5 3
2 ,3 1 5
6 ,8 0 6
4 ,2 5 4
2 ,0 1 9
53
3 ,4 1 9
7 ,8 3 8
3 ,5 8 5
3 ,8 7 7
1 ,6 7 9
2 9 ,8 0 0
5 2 ,6 0 7

1844-45.
5 2 9 ,6 7 5
2 ,0 2 5
3 6 ,2 1 3
1 7 ,9 7 5

5 ,7 8 3
1 3 ,6 9 0
5 ,5 0 7
2 ,7 6 9
910
5 ,0 0 0

1 1 2 ,9 9 5
2 ,3 1 4
7 ,8 5 7
1 ,8 5 4
1 ,2 5 3
2 ,3 5 5
9 ,2 1 1
7 ,1 9 6
9 ,1 2 3
1 ,6 3 0
821
6 2 ,0 8 3
2 7 ,2 0 1
2 ,3 5 3
2 ,2 6 7
5 2 ,8 8 0
7 5 ,3 5 7
78
6 ,7 8 4
3 ,6 4 0
1 ,0 5 3
2 ,4 2 3
6 ,0 0 0

1 ,0 5 4 ,8 5 7

9 8 4 ,6 1 6

8 ,0 5 0
7 4 ,7 5 7

111,666

1843-44.
4 8 8 ,8 1 7
518
2 1 ,2 6 5
1 4 ,8 9 3
2 ,1 8 2
1 0 7 ,9 7 3
1 ,4 1 8
7 ,4 6 2
3 ,1 2 7
1 ,3 6 0
512
2 ,7 7 0
8 ,4 9 9
3 ,1 5 6
402

1841-42.
3 9 3 ,9 9 0
38
1 5 ,5 7 4
1 0 ,7 4 0
1 ,1 0 8
1 6 1 ,1 0 3
2 ,2 4 7
1 6 ,9 9 2
2 ,9 3 0
584
2 ,9 0 7
6 ,3 6 9
5 ,2 0 9
5 ,6 7 8
286
78
1 2 ,8 1 8
1 0 ,6 1 0

1840-41.
3 9 6 ,0 1 0
304
2 0 ,4 1 5
9 ,1 8 8
4 ,3 9 3
1 5 7 ,2 7 7
2 ,8 0 7
2 1 ,9 3 3
1 ,9 1 4

3 ,0 0 0
2 ,0 0 0

174
3 1 ,2 1 5
5 4 ,0 6 2
1 ,9 1 0
2 ,8 4 6
1 ,7 0 3
2 ,6 5 8
3 ,7 1 6
1 ,7 2 2

90
5 5 ,9 3 0
8 1 ,6 2 6
3 ,1 3 2
5 ,7 2 1
4 ,8 3 2
9 ,0 2 5
581

8 9 5 , 3 7 5 1 , 0 8 8 ,8 7 0

■ 7 4 9 ,2 6 7

8 2 1 ,2 8 8

184 1 -4 2 /
4 2 1 ,4 5 0
1 8 3 ,2 7 2
2 1 ,2 0 7
2 3 ,5 0 6
9 9 ,8 3 2

1840-41.
4 3 0 ,3 1 0
1 8 3 ,9 3 1
9 ,8 3 6
3 6 ,3 6 4
1 6 0 ,8 4 7

7 4 9 ,2 6 7

8 2 1 ,2 8 8

3 3 ,1 5 1
1 9 ,7 0 4
1 ,2 0 8
8 2 ,8 1 4
7 2 ,4 0 0

211
6 ,9 1 9
4 ,6 9 8
4 ,1 2 6
3 ,2 8 0
2 ,5 0 0

1842-43.
6 2 4 ,6 8 1
61
3 5 ,8 3 1
1 5 ,9 3 9
2 ,9 2 6
1 5 9 ,6 5 8
2 ,8 6 1
9 ,9 8 2
8 ,3 7 4
2 ,5 9 3
2 ,1 7 3
1 3 ,3 0 3
1 7 ,6 9 3
1 3 ,6 6 4
114
401
2 1 ,1 7 7
1 7 ,6 6 2
4 ,3 0 3
L342
4 8 ,0 3 6
7 3 ,8 9 1
674
3 ,2 5 3
3 ,2 7 8

1 ,7 0 6
2 ,2 6 4
2 ,9 8 3
2 ,7 9 3
561
1 9 ,0 0 2
1 6 ,8 0 1

RECAPITULATION.
W h ith e r exported.

Great Britain......................
France.................................
North of Europe.................
South of Europe and China
Coastwise............................
T o ta l..........................

1845-46.
5 6 2 ,3 2 0
1 5 9 ,5 2 8
2 8 ,8 4 1
8 4 ,0 8 6
2 2 0 ,0 8 2
1 , 0 5 4 ,8 5 7

1844-45.
5 8 5 ,8 8 8
1 2 5 ,0 2 0
3 3 ,0 3 5
9 2 ,4 5 8
1 4 8 ,2 1 5

1843-44.
5 2 7 ,6 7 5
1 1 9 ,9 8 0
1 7 ,9 0 7
5 9 ,8 5 5
1 7 6 ,9 5 8

9 8 4 ,6 1 6

8 9 5 , 3 7 5 1 ,0 8 8 ,8 7 0

1842-43.
6 7 9 ,4 3 8
1 8 0 ,8 7 5
5 0 ,8 8 2
4 3 ,5 4 3
1 3 4 ,1 3 2

* Similar accounts of the trade and commerce of New Orleans for previous years,
(from 1831 to the present time,) will be found in the Merchants’ Magazine, vol. II., p.
349; vol. IV., p. 388; vol. V., p. 471; vol. VII., p. 390 ; vol. IX., p. 568; vol. XI., p.
416; vol. XIII., p. 369.




405

Commercial Statistics.
EXPORTS

OF

TOBACCO

1ST

OF

FROM

NEW

O R L E A N S , F O R S IX Y E A R S , C O M M E N C I N G O N T H E

SEPTEM BER, AND

E N D IN G

ON

TH E

31ST

OF

AU G U ST.

TOBACCO— H O G SH EA D S.

Whither exported.

1845-46.

1844-45.

1841-42.

1840-41.

8,976
12,888

4,947
6,475

]843-44.
8,808
8,291

1842-43.

Liverpool.............................
London................................
Glasgow and Greenock....
Cowes, Falmouth, &c.......
Cork, Belfast, &c...............
H avre..................................
Bordeaux.............................
Marseilles............................
Nantz, Cette, and Rouen..
Amsterdam..........................
Rotterdam and Ghent.......
Bremen................................
Antwerp, &c......................
Hamburg.............................
Gottenburg..........................
Spain and Gibraltar...........
Havana, Mexico, & c.........
Genoa, Trieste, &c...........
China....................................
Other foreign ports............
New York...........................
Boston..................................
Providence, R. I .................
Philadelphia........................
Baltimore.............................
Portsmouth..........................
Other coastwise ports.........
W estern States...................

6,788
9,851

6,930
7,212

5,252
8,732

2,641

1,131

5,424

10,798

6,827

6,681

2,215
1,067
1,006

3,514
1,565
3,934

4,846
1,156
5,102

4,648
2,332
4,665

4,037
1,004
1,933

4,224
814
1,774

451
1,104
6,328
4,294
181
943
9,843
2,375

50
1,014
12,012
3,862
786
909
6,749
903
3,001

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

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

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

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

298
4,848
913

794
6,936
4,938

1,177
6,960
2,585

217
10,533
3,650

516
7,090
2,351

667
7,466
3,109

1,030
427

2,536
478

1,286
1,167

2,845
2,433

936
208

2,126
517

217

2,145

1,100

2,194

225

287

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

62,045

68,679

81,249

89,891

68,058

54,667

R E C A P IT U L A T IO N .

Whither exported.

1845-46.

1844-45.

1843-44.

1842-43.

1841-42.

Great Britain......................
France.................................
North of Europe.................
South of Europe and China
Coastwise............................

24,505
4,288
13,301
12,516
7,435

12,553
9,013
19,051
11,029
17,033

22,523
11,104
20,175
14,349
13,098

1840-41.

27,437
11,645
21,618
7,536
21,655

20,969
6,974
20,252
9,053
10,810

20,665
6,812
8,040
5,645
13,505

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

62,045

68,679

81,249

89,891

68,058

54,667

EXPORTS OF SU G A R FRO M

N EW

O R L E A N S , F O R T H R E E Y E A R S , E N D IN G 3 1 S T A U G U S T .

1845-46.

1844[-45.

1845-44.

New Y ork.................................. 33,068
Philadelphia................................
1,804
Charleston, S. C.......................... -*3,412
Savannah....................................
1,062
Boston.......................................... , 3,208
Baltimore....................................
9,143
Norfolk.................................... >
3,997
Richmond & Petersburg, Va. ^
Alexandria, D .C ........................
175
Mobile.........................................
5,739
Apalachicola and Pensacola......
1,067
Other ports..................................
533

2,448
2,421
1,193
65
1,288
1,672

. Hhds.
49,442
21,392
4,426
782
6,062
12,564

1,215

4,500

208

1,020
158
8

201
3,534
838
760

668
102
239

11,422
8,478
1,502
483
217
5,492
562
1,590
280
3,257
1,070
42

T ptal................................ . 83,208

11,493

104,501

10,561

34,395

Whither exported.




Hhds.

Bbls.

Bbls.

Hhds.

Bbls.

6,794
1,422
95
10
543
480

217
697

1,544

42

”’i
17
548
22

406

Commercial Statistics.

C O M P A R A T IV E
N EW

A R R IV A L S , E X P O R T S , A N D

O R LEA N S, FOR

STOCKS

Y E A R S -----F R O M

TEN

1ST

OF

COTTON

S E P T ., E A C H

COTTON— BA LK S.

Y ears.
1 8 4 5 - 4 6 ,...
1 8 4 4 - 4 5 ,...
1 8 4 3 - 4 4 ,...
1 8 4 2 - 4 3 ,...
1 8 4 1 - 4 2 ,...
1 8 4 0 - 4 1 ,...
1 8 3 9 - 4 0 ,...
1 8 3 8 - 3 9 ,...
1 8 3 7 - 3 8 ,...
1 8 3 6 - 3 7 ,...

A rrivals.
1 ,0 5 3 ,6 3 3
9 7 9 ,2 3 8
9 1 0 ,8 5 4
1 , 0 8 9 ,6 4 2
7 4 0 ,1 5 5
8 2 2 ,8 7 0
[ 9 5 4 ,4 4 5
5 7 8 ,5 1 4
7 4 2 ,7 2 0
6 0 5 ,8 1 3

AND

TOBACCO,

Y EA R,

TO

A T

DATE.

TOBACCO— H O G SH EA D S.

E xports.
1 ,0 5 4 ,8 5 7
9 8 4 ,6 1 6
8 9 5 ,3 7 5
1 ,0 8 8 ,8 7 0
7 4 9 ,2 6 7
8 2 1 ,2 2 8
9 4 9 ,3 2 0
5 7 9 ,1 7 9
7 3 8 ,3 1 3
5 8 8 ,9 6 9

Stocks.
6 ,3 3 2
7 ,5 5 6
1 2 ,9 3 4
4 ,7 0 0
4 ,4 2 8
1 4 ,4 9 0
1 7 ,8 6 7
1 0 ,3 0 8
9 ,5 7 0
2 0 ,6 7 8

E xports.
6 2 ,0 4 5
6 8 ,6 7 9
8 1 ,2 4 1
8 9 ,8 9 1
6 8 ,0 5 8
5 4 ,6 6 7
4 0 ,4 3 6
3 0 ,7 8 0
3 5 ,5 5 5
3 5 ,8 2 1

A rrivals.
7 2 ,8 9 6
7 1 ,4 9 3
8 2 ,4 3 5
9 2 ,5 0 9
6 7 ,5 5 5
5 3 ,1 7 0
4 3 ,8 2 7
2 8 ,1 5 3
3 7 ,5 8 8
2 8 ,5 0 1

S to ck s.
1 7 ,9 2 4
7 ,6 7 3
4 ,8 5 9
4 ,8 7 3
2 ,2 5 5
2 ,7 5 8
4 ,4 0 9
1 ,2 9 4
3 ,8 3 4
3 ,8 5 7

E X P O R T S O F M O L A S S E S F R O M N . O R L E A N S , F O R T H R E E Y E A R S , E N D IN G 3 1 S T A U G U S T .

1845-46.
Whither exported.

1843-44.

1844-45.

New Y ork ........................
Philadelphia................................
Charleston, S. C ..............................
Savannah....................................
Providence & Bristol, R. I........
Boston..........................................
Baltimore.....................................
Norfolk.................................... )
Richmond & Petersburg, Va. \
Alexandria, D. C ............................
Mobile..........................................
Apalachicola and Pensacola....
Other ports..................................

Hhds.

Bills.

Hhds.

Bbls.

Hhds.

Bbls-

3,002
580
2

9,875
2,418
1,472
2,124
547

34,322
11,575
5,610
2,686
1,051
14,221
10,943

1,882
354

579
318
185

17,515
13,925
6,328
2,214
280
1,402
5,181

27

3,767

96

6,029

428
13,464
2,039
671

95
76

....

391

84
5,218
1,795
881

112

15,744
4,214
5,467
1,254
55
1.001
5,231
2,039
1,581
350
2,836
2,440
750

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

4,703

67,214

17,094

94,415

3,409

42,962

EXPORTS

OF

FLOUR, PO RK ,
TH R EE

....

io

BACON, LARD,

Y EA RS, FROM

1ST

. ...

475
586

B E E F , L E A D , W H IS K E Y , A N D C O R N , FO R

SEPTEM BER

TO

31ST

A U G U ST.

1845-46.
Destination.

FL O U R .

PORK.

BACON.

Barrels.

Barrels.

LARD.

LEA D .

W H IS K E Y .

Pigs.

Barrels.

CORN.

Hlids.

Kegs.

2,873
846
1,238
729
1,962
12,720
610
64

204,323
190,504
69,153
39,619
5,677
20,671
92,336
168,621

309,681
4,098
139,364
150
70,113
647
11,961
2,175
4,620
8,982
8,460 41,869

172,186
289,523
3,671
1,000
87,953
175,582

Other foreign ports.

83,854 88,228
122,148 89,164
250 29,783
19,523
11,476
2,828
68,441 13,434
7,094
1,005
279,931 28,354

174,086

260

211,674

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

573,194 272,319

21,042

790,904

718,285

58,181

941,589

LEA D .

W H IS K E Y .

CORN.

Barrels.

Backs.

30,051
81,341

78

2,592
600
1,256
500
4,422
22,495

126,262

495

New York................
Boston......................
Philadelphia............
Baltimore..................
Charleston,..............
Other coastw’e ports

Packs.

1844-45.
FL O U R .

PORK.

BACON.

Destination.

Barrels.

Barrels.

Hhds.

New York................
Boston......................
Philadelphia............
Baltimore..................
Charleston................
Other coastw’e ports

74,802
75,960
3,638

56,046
79,617
17,242
13,165
1,038
5,603
520
8,178

1,565
727
834
624
2,533
5,559
190
50

119,967
133,474
39,275
23,163
9,332
13,315
89,997
39,815

339,345
135,489
88,810
17,455

279,137 181,409

12,082

468,338

707,439

Other foreign ports.
Total................




1,100
43,959
23,787
55,891

LA R D .

Kegs.

Pigs.

___

4,382
67,513
9,096
27,912

32,360 ,220,295

407

Commercial Statistics.

EXPORTS OF FLOOR, PORK, BACON, LARD, BEEF, LEAD, WHISKEY, AND CORN— CONTINUED.

1843-44.
LEAD.

Barrels.

FLOUR.

W H IS K E Y .

Barrels.

Hhds.

Kegs.

Pigs.

Barrels.

Sacks.

48,323
63,653

324,776
216,773
30,493
25,831
8,924
13,327
100,764
151,382

44,367
27,536

2,455

2,216
138
730
631
4,332
33,536

Other foreign ports.

5,104
1,742
1,718
1,217
3,986
10,424
504
157

264,834
111,614
53,901
12,561

1,395
48,718
29,314
108,679

219,756
109,410
13,702
11,939
2,255
9,229
397
26,491

154,955

544

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

300,082

393,179

24,852

872,270

600,320

Destination.

New York................
Boston.....................
Philadelphia............
Baltimore.................
Charleston...............
Other coastw’e ports

PO RK .

LA R D .

BACON.

CORN.

2,775
60,278
15,809
53,516

42,127 204,281

The exports of beef amounted, in 1843-44, to 35,386 barrels; in 1844-45, to 23,969
barrels ; in 1845-46, to 58,162 barrels.
IM P O R T S

IN T O

NEW

1ST

O R LEA N S, FRO M

SEPTEM BER

1845-46.
Articles.
Apples..........
26,775
Bacon, asst... casks
25,213
Bacon Hams, hhds.
12,092
Bacon in bulk ...lbs.
492,700
Bagging........ pieces
90,601
Bale Rope....
56,678
Beans............
16,585
B atter...........
44,172
Butter............
1,494
Beeswax.......
1,200
Beeswax........
4,920
Beef.. bbls. & tierces
62,231
Beef, dried..... ...lbs.
98,200
Buffalo robes ..packs
1,031
La. & Mi .bales
765,315
Lake.....
14,276
o J\. Ala. &. Ten. 222,677
Eh Arkansas.
34,876
Mobile...
6,356
o Florida...
5,884
o .Texas....
4,249
Corn Meal.... . .bbls.
3,905
Corn in ears..
358,573
Corn, shelled., sacks 1,166,120
Cheese.......... boxes
57,392
Candles........ boxes
10,461
C ider............
135
Coal, western..bbls.
262,800
Dried Peaches. bbls.
137
Dried Apples. ..bbls.
930
Flaxseed....... ierces
823
Flour............
837,985
Furs.............. boxes
28
Furs........... bundles
609
Feathers.......
4,607
H em p.........bundles
30,980
H ides...........
112,913
Horns............
700
Hay............ bundles
71,270
Iron, Pig.......
1,083
Lard...............
45
Lard..............
107,639
Lard...............
334,969




TO

TH E

TH E
31sT

IN T E R IO R ,

FOR

A U G U S T , IN

4844-45, 1S43-44.

S IX

EACH

1842-41.

YEA RS ; FROM

TH E

YEAR.

1844-42,

1840-41.

26,515
43,969
67,803
26,443
27,244
12,892
19,563
16,568
13,505
11,231
8,358
19,070
13,588
9,220
6,111
350,000 1,203,821 1,453,798 1,288,109 2,593,057
111,324
100,216
89,721
60,307
70,976
67,600
80,932
83,684
03,307
65,613
7,006
7,619
8,878
10,993
14,281
30,319
18,530
18,831
14,074
11,791
396
500
894
284
093
1,464
985
306
1,911
343
510
2,677
16,069
3,300
49,363
32,674
17,549
33,262
17,455
58,200
55,610
51,400
70,100
60,812
1,915
5,445
5,135
2,587
3,122
688,244
627,769
824,045
677,343
583,328
19,533
13,234
14,280
5,163
8,967
198,246
169,334
191,410
118,122
118,629
23,103
21,835
11,149
30,511
16,734
12,123
47,596
4,565
5,881
10,687
12,830
12,916
731
3,331
2,831
25,159
18,170
15,328
4,481
5,101
7,917
3,769
2,214
5,415
6,023
139,686
165,354
240,675
168,050
255,058
390,964
369,052
268,557
427,552
338,709
39,091
1,852
12,583
3,502
2,710
5,170
3,913
1,201
425
3,593
385
1,419
544
1,026
1,130
281,000
221,233
227,788
140,582
255,568
474
483
1,112
863
718
1,758
1,041
1,115
889
958
2,181
863
742
4,273
13,480
533,312
439,688
490,194
502,507
521,175
118
45
32
43
37
581
1,792
496
1,733
326
5,403
4,568
1,737
470
1,484
46,274
38,062
1,211
450
14,873
117,863
76,490
26,169
25,522
45,957
8,300
3,870
700
1,700
2,480
37,296
35,132
20,166
28,059
21,425
207
100
322
211
512
167
212
74
74
1,4.33
60,078
119,717
18,207
9,672
104,540
245,414
373,341
366,694
311,710
307,871

408

Commercial Statistics.
IM P O R T S IN T O

NEW

ORLEANS FRO M

THE

IN T E R IO R

—C O N T IN U E D .

1845-46. 1844-45. 1841-44. 1842-41. 1841-42. 1840-41Articles.
Lime, western. bbls.
6,233
3,767
8,387
1,159
830
2,406
Lead.................. pigs
639,269
571,949
732,125
472,556
434,467
785,394
Lead, bar.........kegs
1,431
788
851
701
1,084
601
Lead, white. . . .kegs
888
30
7,853
50
592
Molasses.......... bbls.
105,086
64,852
132,363
66,183
69,104
Oats....bbls. & sacks
144,262
130,432
120,430
54,250
269,386
63,281
6,979
7,499
Onions............. bbls.
6,443
4,614
3,338
6,457
Oil, linseed...... bbls.
1,356
2,260
1,356
305
1.135
414
Oil, castor........ bbls.
2,379
3,385
2,757
4,976
3,666
1,115
Oil, lard........... bbls.
2,606
2,413
1,818
2,647
Peach Brand v.. bbls.
54
46
49
72
267
147
Pickles..kegs & bbls.
1,316
218
1,154
140
157
445
Potatoes........... bbls.
107,058
26,201
53,779
56,587
48,060
28,468
P ork................. bbls.
369,601
216,960
412,928
204,643
244,442
216,974
P ork ................hhds.
9,988
8,800
2,371
946
763
6,741
Pork in bulk......lbs. 9,740,752 4,079,600 7,792,000 6,814,750 4,051,800 9,744,220
Porter & Ale...bbls.
231
86
604
514
2,133
1,050
Packing Yarn.reels
1,180
2,099
509
1,104
1,164
1,465
Skins, deer..... packs
4.364
2,729
1,939
3,219
1,650
1,496
Shot................. kegs
3,416
6,501
3,103
4,105
4,714
1,588
Sugar...............hhds.
93,109
93,288
50,920
51,816
65,036
3,633
7,399
1,932
Soap............... boxes
6,076
150
2,627
Shingles...................
13
144,000
361,561
147,000
114,000
155,000
Staves.....................
736,600
5,679 2,500,000 1,362,678 1,165,400
425,000
Tallow............bbls.
8.255
7,828
937
7,323
6,995
5,071
Tobacco, leaf. .hhds.
53,170
72,896
71,493
82,435
91,454
66,855
Tobacco, chew.kegs
5,309
4,902
3,618
3,935
3,040
7,695
1,226
Tobacco.......... bales
3,799
1,105
4,771
3,008
3,298
Twine......... bundles
734
1,175
1,009
1,951
2,099
1,903
W hiskey..........bbls.
73,873
117,104
97,651
63,345
86,947
83,597
Window Glass..bxs.
2,831
2,761
760
3,071
2,066
2,342
W heat. bbls & sacks
403,786
64,759
2,621
86,014
118,248
134,886
R E C E IP T S

OF T H E

TH E

YEAR

AND

TOTAL

P R IN C IP A L

E N D IN G

3 1sT

OF

A R T IC L E S

OF

A U G U ST,

1846,

PRO DUCE
W IT H

FROM

T H E IR

TH E

IN T E R IO R ,

E S T IM A T E D

FOR

AVERAGE

VALUE.

Articles.

Apples.......................
Bacon, assorted.......
Bacon, assorted........
Bacon Hams...........
Bacon, in bulk..........
Bagging....................
Bale Rope................
Beans........................
Butter,......................
Butter........................
Beeswax...................
Beef,.........................
Beef..........................
Beef, dried...............
Buffalo Robes......... .
Cotton......................
Corn Meal................
....... bbls.
Corn, in ear..............
Corn, shelled........... .
Cheese.......................
Candles.....................
Cider..........................
........bbls.
Coal, Western..........
......bbls.
Dried Apples and Peaches..........
Feathers...................
Flaxseed...................




Amount.

26,775
25,213
4,272
12,092
492,700
96,601
56,678
16,585
44,172
1,494
1,200
36,017
26,214
98,200
1,031
1,053,633
3,905
358,573
1,166,120
57,392
10,461
135
262,800
1,067
4,607
823

Average.

$2
40
23
45
9
4
4
4
18
45
6
13

00
00
00
00
44
50
50
00
00
00
00
50
00

6

55 00
32 00
2 50
60
1 15
2 00
3 00
3 00
50
2 00
25 00
8 00

Value.

$53,550
1,008,520
98,256
544,140
20,939
917,710
255,051
63,340
176,688
26,892
54,000
234,110
340,782
5,892
56,705
33,716,256
9,762
215,143
1,341,038
114,784
31,383
405
131,400
2,134
115,175
6,584

Commercial Statistics.
Articles.
Flour,.................................
F urs..................... hhds., bundles and boxes
Hemp........... ....................
H ides................................
H ay....................................
Iron, pig............................
Lard..................................
Lard.................................. .bbls. and tierces
L ard ..................................
Leather..............................
Lime, Western.................
L ead.................................. ....................pigs
Lead, bar.......................... .kegs and boxes
Molasses, (estimated crop,)............... galls.
Oats.................................... . bbls. and sacks
Onions...............................
Oil, Linseed......................
Oil, Castor.........................
Oil, Lard...........................
Peach Brandy.................. .
Potatoes.............................
F o rk ..................................
Pork....................................
Pork, in bulk.....................
Porter and A le.................
Packing Yarn....................
Skins, Deer.......................
Skins, Bear........................
Shot...................................
Soap...................................
Staves............................... .......................M.
Sugar, (estimated crop,)..
Spanish Moss...................
T allow .............................
Tobacco, Leaf..................
Tobacco, Strips................
Tobacco, Chewing........... .kegs and boxes
Tobacco............................
T w ine............................bundles and boxes
Vinegar..............................
Whiskey............................
Window Glass..................
W heat............................... . .bbls. and sacks
Other various articles—estimated a t...........

409

Amount.
837,985
637
30,980
112,913
71,270
1,083
45
107,639
334,969
2,875
8,387
785,394
1,431
9,000,000
269,386
6,979
1,135
2,379
2,606
54
107,058
369,601
9,988
9,740,752
231
1,180
4,364
64
3,103

Average.
$ 4 50
io 66

1
3
35
50
16
3
18
1
2
13

20
00
00
00
00
00
00
00
50
00
19
75
2 00
28 00
19 00
19 00
15 00
1 50
8 00

32 00

4
5 50
5 00
20 00
15 00
16 00
2 50
26 00
55 00
3 00
18 00
45 00
100 00
12 00
2 50

3 ,6 3 3

5,679
186,650
2,944
8,255
57,896
15,000
3,040
1,105
734
225
117,104
2,831
403,786

6 00

3 00
8 00

4 00
2 00

Total value..........................................................................
M ONTHLY

A R R IV A L S
TW O

Months.

September.
October.....
November. .
December..
January.....
February...
M arch...... .
April......... .
May.......... .
J u n e ........ .
Ju ly ...........
August..... ..

OF

S H IP S , B A R K S , B R IG S , S C H O O N E R S , A N D

YEARS,

FROM

1ST

SEPTEM BER

1845-46.

Ships. Barks. Brigs. Sch’rs. Total. S. Boats.

14
26
39
42
62
50
32
37
61
30
61
64

52
157
175
219
280
136
156
234
178
141
176
181

164
234
220
245
298
293
299
294
271
184
151
117

T otal.... 743 377 447 518

2,085

2,770

24
86
81
80
67
29
67
110
60
44
52
43

7
7
25 20
22 33
49 48
77 74
21 36
24 33
40 47
30 27
25 42
24 39
33 41




TO

31ST

Value.
$3,770,932
900,000
309,800
135,495
213,810
37,905
2,250
1,722,224
1,004,907
51,750
8,387
1,963,484
18,603
1,710,000
202,039
13,958
31,780
45,201
49,514
810
160,587
2,956,808
319,616
389,630
1,270
5,900
87,280
• 960

49,648
9,082
147,654
10,265,750
8,832
148,590
2,605,320
1,500,000
36,480
2,762
4,404
675
936,832
11,324
807,572
5,000,000
$77,193,464

ST E A M B O A T S, FOR

AUG UST.

1844-45.

Ships. Barks. Brigs. Sch’rs. Total. S. Boat*.

26
69
74
83
118
52
93
78
32
52
23
18

9 12
16 14
25 29
39 37
48 57
44 56
40 62
34 48
19 12
12
6
8
8
3 10

8
6
28
29
48
52
49
34
25
14
12
11

55
105
156
, 188
271
204
244
194
88
84
51
42

120
165
233
289
279
272
281
242
228
168
154
99

718 297 351 316

1,682

2,530

410

Commercial Statistics.

C O M P A R A T IV E
F IR S T

OF

TOTAL

P R IC E S O F

EACH

M ID D L IN G

TO

M O N T H , D U R IN G

R E C E IP T S

AT

N EW

A

F A IR

COTTON, A T

P E R IO D

O RLEA N S,

AND

O F F IV E

TH E

N EW

O RLEA N S, ON

Y E A R S -----T O G E T H E R

TOTAL

CRO PS

OF

TH E

TH E
W IT H

U N IT E D

STATES.

1845-46.
Months.

September........ October..............
November.........
December..........
January.............
February........... ■
March................ .
April..................
M ay.................. .
Ju n e ..................
July....................
A ugust..............

.Rec’pts N. Orl’s
CropofU.States
C O M P A R A T IV E

a 8|
a 8|
a 8
a 7f
a 7J
a 7J
a
a gf
a
a 8
64 a
8
7 a 84

6
54
54
44
4|
4|
5
5f
5|
54
64
64

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

7J
74
6|
64
64
64
64
74
74
74
74
74

1841-44.

1842-41.

Cents.

Cents.

5| a
7 a
6 |a
U a
8| a
8| a
84 a
74 a
64 a
7 a
64 a
64 a

8
fj
8
8|
10 4

10
94
94
84
84
84
8

6
64

54
54
54
54
44
54
54
54
54

1841-42.
Cents.

a
a 8
a 74
a 74
a 7|
a 74
a 7
a 7§
a 74
a 8
a 8
a 8

a

.
84
84
84
8
74

a
a
a
a
a
64 a
74 a
64 a
64 a
a
6^ a

10 4
94
10 4

10
94
10
10
10
10
10
10
...

1845-46.

1844-45.

Bales.

Bales.

Bales.

Bales.

Bales.

1,053,633
2,075,000

979,238
2,400,000

910,854
2,030,409

1,089,642
2,378,875

740,155
1,683,574

P R IC E S

September.........
October..............
November.........
December.......... .
January.............
February...........
March................
April.................. .
Mav...................
Ju n e ..................
July...................
August..............

OF

SU G A R

OF

EACH




LEV EE, A T
FOR

F IV E

NEW

1841-44.

Cents.

Cents.

a
a
a
a
a
a
a
a
a
a
a
a
OF

64
7
64
64
6|
6|
6|
64
64
6f
74

5
5
4
3
24
2|
3
5
5
44
44
54

M OLASSES
OF

EACH

a 6|
a 64
a 5|
a 54
a 54
a 54
a 5£
a 64
a 64
a 64
a 64
a 7
ON

a 64
a 7
a 64
a 64
44 a
74
5 a 74
5 a 74
54 a 74
a 7^
44 a 6 |
44 a 64
4 4 a 64
LEV EE,

FOR

O RLEA N S, ON

F IV E

1842-41.

A T

2
4
34
34
3
3£
34
34
3|
44
44
5
N EW

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

44
6^
6
44

4|
5
5
5
54
54
6
64

1844-45.

1841-41.

1842-41.

Cents.

Cents.

Cents.

204
214

164

2 14

114

23
254
234
22
20
21

204
25
24
18
20
26

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

28
26
21
204

1H
16
21
26
27
27
27
28

a
a
a
a
224 a
22 a
23 a
23 a
25 a
24 a
24 a
254 a

18
23
14
20

1841-42.
Cents.

44
44
44
44
4
3
3
3
3
2
2
2

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

O RLEA N S, ON

Cents.

26
24
20

1ST

64
74
7
64
6
54
54
54
54
44

TH E

YEA RS.

1845-46.
27
24
22

TH E

Cents.

54
6
5
44

TH E

M ONTH

1841-42.

1842-41.

YEA RS.

1844-45.

a
a
a
a
a
a
224 a
25 a
a
18 a
a
15 a

24
21
21
20
21

TH E

Cents.

1ST

Months.

ON

M ONTH

1841-44.

1845-46.
6
6
5
4
44
4
4
4
4|
4
4
44

P R IC E S

September....... ..
October............ ..
November....... ..
December........ ..
January............ ..
February..........
March.............. ..
April................. ..
M ay.................
J u n e ................ ...
July..................
A ugust............ ...

Cents.

n
6|
7
6J
64
7|
6£
6f
6^
64

Months.

C O M P A R A T IV E

1844-45.

Cents.

21

24
204

21
23
23
24
25
264
25
26
264

10
9
11
14
12
13
11
15
154
174
19
20

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

12
11

17
154
134
14
12 4

16
16
19
22
22

1841-42.
Cents.

20
20
18
19
17
16
16
14
10
13
12
11

a 23
a 25
a 26
a 20
a 18
a 17
a 17
a 15
a 14
a 16
a 14
a 13

Commercial Statistics.

411

COMPARATIVE PRICES OF FLOUR, AT NEW ORLEANS, ON 1ST OF EACH MONTH, FOR FIV E YEARS.

1845-46.
M onths.

S e p te m b e r...,
O c to b e r..........
N o v e m b e r.,..
D ecem b er......
J a n u a ry ..........
F e b ru a ry ...... .
M arch .............
A p ril................
M ay .................
J u n e ............... .....
J u ly .................
A u g u s t...........

1844.■45.

Dollars.

34
3f
44
74

a 44
a H
a 54
a 84
7

64
54

3® a
3® a

5
4|
44
4
4

D ollars.

.

3®
4
4
4®
3|
4
3®
34
3|
34
4

a 6
a 4®
a 44
a 4®
a 54
a 44
a 44
a 4®
a 44
a 4®
a 4®
a 44

1848-44.

1842-48.

D ollars.

D ollars.

4|
4
4
44
4®
44
44

a
a
a
a
a
a
a
a

41
34
3£
4

a
a
a
a

4*
4®
44
44
44
4®
44
44
3J
44
54

34
3®
4^
4
34
34
3®
3f
4J
44
4

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

1841-42.
D ollars.

4f
3®
4

64

64
5f
64
64
64
5
5
4f
5J
4|
4

.

34
34
4
3®
5
5®
44

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

7
6f
54
6®
.

54
5|
5§
4|
6
5
44

COMPARATIVE PRICES OF MESS AND PRIME PORK, AT NEW ORLEANS, ON THE 1ST OF EACH

MONTH, FOR 'rw c> YEARS.
1845-46.
Mess.
Prime.
$ 1 7 a 174 *13 a 134
. ..
1 1 | a 124
144
1 0 J a 11
16
134 a
154 a 1 5 J
1 3 | a 14
11
94 a 10
11
9 | a 10
11 a 114
9 a
1 0 J a 10®
81 a
P®
10
74 a
8
94
7 a
n
8® a
9
64 a
7

Months.
S e p te m b e r....
O c to b e r.........
N o v e m b e r...
D e c e m b e r....
J a n u a ry .........
F e b ru a ry ...... .
M arch ............
A p ril...............
M a y ................
J u n e ...............
J u ly .................
A u g u s t..........

1844-45.
Mess.
9 a
9 a
91 a
91 a
94 a
10 a
11 a
13 a
13} a
13 a
134 a
14 a

...
...
10
10
...
...
...
...
14
...
...
...

Prime.
61 a
64
61 a
64
74 a
.
7 a
71
8 a
8 a
9 a
.
11 a
.
11} a 12
11 a
.
104 a 101
11 a
.

COMPARATIVE PRICES OF CORN IN SACKS, AT NEW ORLEANS, ON THE 1ST OF EACH MONTH,
FOR FIVE YEARS.

1845-46.

1844-4§«

Cents.

Cents.

M onths.

September...
October.......
November...
December....
January........
February.......
March...........
April............ .
May..............
Ju n e .............
July..............
August........

40
35
45
80
55
40
47

a 42
a 38
a 50
a 82
a 63
a 50
a 52

40 a 50
35 a 40

43 a 44
40 a ...
43 a 45
34 a 37
37 a 38
38 a 40
40 a 41
35 a 36
35 a 38
28 a 32
30 a 34
34 a 36

1841-44.
Cents.

42
37
34
43
36
32
35
40
40
33
40
40

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

43
40
35
45
38
33
35
42
41
35
43
45

1842-41.
C ents.

33
32
30
45
34
26
28
35
35
34
42
40

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

34
33
31
47
35
28
30
36
40
35
...
42

1841-42.
Cents.

60
62
52
50
50
38
40
36
30
30
32
33

a 63
a 70
a 55
a 55
a 53
a 44
a 42
a 37
a 33
a 31
a 33
a 36

IM PO RT O F CURED PROVISIONS IN T O T H E U N ITE D KINGDOM.
It will be seen, by the following abstract of a return ordered by the British House of
Commons, that more than half of the whole imported cured provisions into the United
Kingdom of Great Britain, &c., was received from the United States. This official return
shows that there were imported into the United Kingdom, from the 5th of January to the
5th of July, 1846, from all quarters, 93,322 cwts. of salted beef; 27,135 of salted pork ;
1,326 of bacon ; 5,447 of hams of all kinds. These articles having been admitted free
of duty since the 18th of March, 1845, no account of the quantity retained for home
consumption, or taken for ship stores, can be given subsequently to that date. The quan­
tity retained for home consumption before the 18th of March is quite inconsiderable.
There were taken for sea stores, during that period, 19,140 cwts. of salted beef, 5,957




412

Commercial Statistics.
t

of salted pork, and 596 of hams of all kinds. The quantities re-exported during the
half-year are 705 cwts. of salted beef, 1,726 of salted pork, and 611 of hams of all kinds.
More than the half of the whole imported cured provisions came from the United States:—
88,585 cwts. of salted beef, 15,454 of salted pork, 1,272 of bacon, and 1,130 of hams of
all kinds. The nearest to America, in point of quantity, are the Hanseatic towns; which
amounted to 2,711 cwts. The bulk of the re-exports were for Africa and the British
colonies.
BALTIM ORE FLOUR INSPECTIO NS.
The Baltimore Commercial Journal, (edited with care and industry by William G.
Lyford, Esq.,) of Feb. 13, 1841, contains the inspection of wheat flour in the city of
Baltimore, for each quarter of the year, commencing March, 1798, and ending with De­
cember, 1840. T hat table was transferred to the pages of the Merchants’ Magazine,
for June, 1841, (Vol. IV., No. 6, p. 569,) and now, for the purpose of continuing the
table, we resume it, (being indebted to the same authentic source,) with September, 1840,
the period at which the miller’s year begins, and close it with the end of June, 1845, as
•
Quarter ending with September, 1840,..................................
«(
December, “ ..................................
tt
March,
1841,.................................
il
June,
“ ..................................
CC
it

it
it

tt
it

il
tt

Barrels.

Half-Barrels.

136,628
198,530
166,264
123,420

8,075
9,907
6,474
7,816

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

624,842

32,272

September, “ ..................................
December, “ ..................................
March,
1842,.................................
June,
“ ..................................

144,115
179,217
111,441
99,965

8,810
8,586
4,412
4,475

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

534,738

26,283

September, “ ..................................
December, “ .................................
March,
1843,..................................
June,
“ ..................................

150,893
186,502
111,765
102,473

9,480
8,595
3,186
7,440

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

551,633

28,701

a
a
a
a

September, “ .................................
December, “ ..................................
March,
1844,..................................
June,
“ ..................................

170,880
167,780
116,274
98,642

10,352
6,927
4,768
5,730

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

553,576

27,777

a
a
it

September, (i ..................................
December, “ .................................
March,
1845,.................................
June,
“ ..................................

124,238
140,302
86,649
118,552

7,311
8,272
4,507
7,487

tt

tt
tt
tt
a

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

469,741

27,577

September, “ .................................
December, “ .................................
March,
1846,.................................
June,
“ ................................ .

114,387
233,726
224,449
180,320

7,818
6,428
6,998
6,067

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

756,882

27,311

The quantity of flour inspected during the year ending with June last, exceeds in
amount any previous year, since 1798; the next largest being that which ended with
June, 1840, which was 734,979 barrels, and 24,196 half-barrels.




Commercial Statistics.

413

PROGRESS O F T H E B R IT ISH COMMERCIAL M ARINE
DURING THE LAST FORTY-FIVE YEARS.

A return has been presented to the British House of Commons, containing a retrospect
of the progress of the British commercial marine since 1820. “ It may,” says the Lon­
don Economist, “ be called a succinct history of the fate of the British mercantile navy
from the time when Huskisson commenced, till the time when Peel and Russell almost
completed, the transition from a restrictive to a free commercial policy.” In 1821, there
entered inwards from the colonies, 2,532 British vessels, with an aggregate tonnage of
656,213 tons ; there cleared outwards to the colonies, 2,698 British vessels, with an%ag­
gregate tonnage of 663,145 tons. In 1845, there entered inwards from colonial ports,
5,685 British vessels, with an aggregate tonnage of 1,895,529 tons; there cleared out­
wards for colonial ports, 5,046 British vessels, with an aggregate tonnage of 1,706,835
tons. In the year 1821, there entered inwards, from foreign ports, 6,669 British vessels,
with an aggregate tonnage of 863,691 tons; there cleared outwards for foreign ports,
5,766 British vessels, with an aggregate tonnage of 757,295 tons. In 1845, there enter­
ed inwards from foreign ports, 13,817 British vessels, with an aggregate tonnage of
2,289,744 tons ; there cleared outwards for foreign ports, 14,008 British vessels, with an
aggregate tonnage of 2,427,552 tons. The result is, that the comparative movements of
British registered shipping making the voyage in 1821 and 1845, is as follows:—
ENTERED.

CLEARED.

Ships.

Tonnage.

Ships.

Tonnage.

1821,............................
1845,............................

9,201
19,502

1,520,104
4,185,273

8,464
19,054

1,420,440
4,134,387

Increase,................

10,301

2,665,169

10,590

2,713,947

Making allowance for slight oscillations from year to year, the increase has been uniform
and steady throughout the period; if anything, it has been in an accelerated ratio
since 1840-41.
LOUISIANA DRY DOCK, A T N EW ORLEANS.
This dock was built under the superintendence, and upon the plan of John S. Gil­
bert’s Patent Balance Dock. It is capable of taking up ships of 1,200 tons, and drawing
16 feet water, and all steamboats not exceeding 275 feet in length. The following are
the rates of dockage charged on ships and steamboats, at the “ Louisiana Dry D ock:”—
RATES FOR DOCKING SHIPS, AND DAILY USE OF
THE DOCK.
R a te s for
R a te s
d o ck in g . p e r d ay .
T ons.
$75
V e s s e ls u n d e r 1 0 0 , ..........
$14
16
80
1 0 0 a n d u n d e r 1 2 5 , ..........
(<
18
125
1 5 0 ............
85
il
90
20
150
1 7 5 , ..........
ft
95
22
175
2 0 0 ............
tt
1
0
0
200
2 2 5 , ..........
24
((
26
2 5 0 , ..........
104
225
»
28
250
2 7 5 , ..........
108
it
3 0 0 , ..........
112
30
275
ll
3 2 5 , ..........
32
300
115
3 5 0 ............
34
120
325
if
36
3 7 5 , ..........
126
350
l(
4 0 0 , ..........
133
38
375
tt
4 2 5 ............
40
400
140
tt
4 5 0 , ..........
42
425
148
4 7 5 ............
44
156
450
tt
5 0 0 , ..........
46
164
475
u
5 2 5 , ..........
173
48
500
a
50
5 5 0 , ..........
182
525
tt
52
5 7 5 , ..........
550
191
a
54
6 0 0 , _____
200
575

RATES FOR DOCKING STEAMBOATS, AND DAILY
USE OF DOCK.
R a te s for
R a te s
T ons.
d o ck in g . p. d a y .
S t ’m b o a t s u n d . 1 0 0 , ..........
$95
$14
1 0 0 a n d u n d e r 1 2 5 , ..........
100
16
it
1 5 0 , ..........
125
106
18
n
150
1 7 5 , ..........
113
20
it
175
2 0 0 , ..........
120
22
it
200
2 2 5 , ..........
128
24
it
2 5 0 , ..........
225
136
26
it
250
2 7 5 ............
145
28
n
275
3 0 0 , ..........
155
30
if
300
3 2 5 , ..........
165
32
it
325
3 5 0 , ..........
176
34
n
350
3 7 5 , ..........
187
36
tt
375
4 0 0 , ..........
198
38
u
400
4 2 5 ............
210
40
it
425
4 5 0 ............
222
42
it
450
4 7 5 , ..........
234
44
ti
475
5 0 0 ............
246
46
ti
500
5 2 5 , ..........
258
48
tt
525
5 5 0 ............
270
50
ft
550
5 7 5 ............
285
52
tt
575
6 0 0 ............
300
54

Every additional 25 tons will pay $15,
Every additional 25 tons will pay $10, and $ 2 50 per day, and all boats over 210
and $2 per day.
feet long will pay $3 for every additional foot.




414

Railroad, Canal, and Steamboat Statistics.

RAILROAD, CANAL, AND STEAMBOAT STATISTICS.
RAILROAD

AND

STEAMBOAT

ROUTE

FROM NEW YORK TO BOSTON, VIA LONS ISLAND.

Long Island Railroad,..........................
Steamboat, (from Greenport to Allyn’s Point,)........
Norwich and Worcester Railroad,........
Boston and Worcester
“
..............................
Passengers leave New York by the South Ferry, for Brooklyn.
Stopping places.

New Y ork,...........................................
Brooklyn,..............................................
East New York,...................................
Union Course,......................................
Jam aica,................................................
Brush ville,.............................................
Hempstead Branch,..............................
Hicksville,............................................
Farmingdale,.......................................
Deerpark,..............................................
Suffolk Station,....................................
Medford Station,..................................
St. George’s Manor,............................
Riverhead,................... !.......................
Mattetuck,............................................
Southold,...............................................
Greenport,.............................................
New London,......................................
Allyn’s Point,......................................
Norwich,...............................................
W orcester,............................................
Boston,..................................................

96 miles.
32
“
66
“
44
“

Mile*.

From
New York.

From
Boston.

0

0

238
237
232
230
226
223
219

i

1

5

6

2

8

4
3
4

12

11

15
19
27
32
38
45
56

12

68

7

75
85
92
96
120
128
135
194
238

8

5
6

7

10

7
4
24
8
7
59
44

2 11

Fare from
New York.

$0

12 4

0

18J
25
31i
374
44

0
0
0
0

206

0 624

200

0 69

193
182
170
163
153
146
142
118
110
103
44
0

1 00
1

18|

1 6 24
1

624

1 624
1 624
2 00

4 00

Cars leave the depot in Brooklyn, daily, Sundays excepted, for Boston, via Norwich
and Worcester, at 7 A. M. Returning, cars leave Boston at 8 4 A. M., by the same
route. Time through, 104 hours.
Stages are in readness, on the arrival of trains at the several stations, to take passen­
gers, at low fares, to all parts of Long Island, A steamboat, also, leaves Greenport for
Sag Harbor, on the arrival of the cars.
The foregoing tabular statement of the Long Island Railroad route, between New
York and Boston, is from the fourth edition, published the present year, of Disturnell’s
valuable Guide Book, giving the particulars of all the important lines of travel through
the Middle, Northern, and Eastern States. It is patronized by most of the railroad and
steamboat companies in those regions of country, and may be relied upon for its general
accuracy. It should be in the possession of every traveller, as he will find information
that will well repay him for the trifling cost of the work.

ST A T IST IC S O F ALL T H E CANALS OF N E W YORK.
W e are indebted to the polite attention of A. C. F l a g g , Esq., the Comptroller of the
State of New York, for a copy of his valuable reports made to the convention for revis­
ing the constitution of the State, in obedience to a resolution of that body, of June 18th,
1846. The answer to one of the requirements of the resolution, which we publish be­
low, shows the revenues of all the canals taken as one system, the expenses of all of them,




415

Railroad, Canal, and Steamboat Statistics.

and their nett revenue. This statement shows, that if all the canals were paid for, the
nett revenue over the expenses of repairs would have been $ 1 ,6 5 7 ,4 2 7 11, for the fiscal
year ending 30th of September, 1845. It appears that the tolls of the lateral canals are so
nearly equal to the expenses of repairs, that the nett revenue of the Erie and Champlain
Canals differs only $6,000 from all the canals besides.
A TABULAR STATEMENT OF THE TOTAL RECEIPTS FROM TOLLS AND RENT OF SURPLUS WATER,
AND OF EXPENDITURES FOR ALL PURPOSES, IN EACH YEAR, FROM 1826 TO 1845, INCLUSIVE,
SHOWING THE DIFFERENCE BETWEEN THE RECEIPTS AND THE EXPENDITURES.
R E P A IR S AND IM P R O V E M E N T S .

Year.

Tolls.

182 6 ,... . . .
1 8 2 7 ,...
1828 ,...
18 2 9 ,...
1 8 3 0 ,... . . .
1 8 3 1 ,...
1 8 3 2 ,... . . .
18 3 3 ,... . . .
18 3 4 ,... . . .
18 3 5 ,... . . .
183 6 ,... . . .
18 3 7 ,...
18 3 8 ,... ...
18 3 9 ,... . . .
18 4 0 ,... . . .
18 4 1 ,... . . .
18 4 2 ,... . . .
18 4 3 ,... . . .
18 4 4 ,... . . .
1 8 4 5 ,... . . .

$ 8 4 4 ,5 0 8
880,454
829,535
815,239
1,042,699
748,561
1,112,194
1,388,055
1,381,051
1,482,063
1,595,619
1,464,105
1,653,007
1,602,059
1,987,807
1,795 ,1 8 4
1,052,587
2 ,3 8 6 ,2 7 7
2 ,374,007

02
09
10
58
24
29
74
53
52
11
48
27
16
56
10
85
80
83
34
56

Rent of surplus Total receipts.
water.
$ 8 4 4 ,5 0 8 02
881,134 09
$ 6 8 0 00
831,002 10
1,467 00
817,919 28
2,679 70
1,045,163 42
2 ,4 6 4 18
751,268 62
2,707 33
1,112,917 74
723 00
1,388,380 53
325 00
1,387,715 02
5,763 50
1,484,595 61
1,632 50
1,598,455 48
2,836 00
1,325,609 77
1,180 50
1 ,465,275 16
1,170 00
1,655,783 56
2,776 00
1,606,827 28
4 ,7 6 8 18
86
1,989,686 71
1,878
1,797,463 80
1,979 00
1,241 25
1,953,829 08
2 ,1 8 0 00
2 ,3 8 8 ,4 5 7 34
2,375,533 43
1,525 87

Canal commis- Superintendents
sioners.
of repairs,
$ 4 0 3 ,2 5 5 91
$ 1 2 4 ,6 5 2 51
153,551 67
284,654 16
92,310 92
224,227 25
48,698 21
255,739 55
18,255 81
229,850 66
11,377 68
168,715 53
32,990 81
350,426 89
35,264 66
377,783 40
17,355 08
471,106 90
20,309 13
441,367 54
13,302 89
3 9 2,444 2 2
61,917 03
486,412 41
84,218 49
476,995 2 2
43,169 12
381,903 15
20,062 38
389,247 9 4
61
39,735
380,365 56
111,235 75
432,105 71
44,747 43
378,618 45
71,618 10
4 44,344 98
103,965 01
526,001 30

$ 2 8 ,6 6 1 ,5 4 8 17 $539,977 87 §528,701,526 04 $ 1 ,4 2 7 ,3 4 1 69 $ 7 ,2 1 6 ,9 5 3 33
TABULAR STATEMENT.— CONTINUED.

Year.
1826,
1827,
1828,
1829,
1830,
1831,
1832,
1833,
1834,
1835,
1836,
1837,
1838,
1839,
1840,
1841,
1842,
1843,
1844,
1845,

Expenses of col­
lectors and inspectors.
$ 2 5 5 83
26,6 3 6 61
27,0 4 2 33
2 7 ,0 5 4 41
24,991 03
2 5 ,6 6 2 63
25,760 85
27,875 08
28,816 14
30,610 07
31,054 42
35,804 98
30,116 62
47,2 6 2 00
47,9 7 2 05
4 7 ,9 5 6 86
47,210 12
4 2 ,5 5 8 21
4 1 ,5 3 5 84
42,4 3 8 09

Weighmasters.
$450
4,0 5 2
5,116
4,3 7 7
2,023
4,4 3 0
4 ,6 0 2
4,511
4,781
4,211
5,671
6,350
6,067
5,719
5,290
5,152
4 ,5 0 6
4 ,7 2 4
4,9 8 5

00
87
63
88
50
59
25
25
30
20
71
32
85
28
22
55
84
21
60

$658,624 17 $87,026 05

Miscellaneous.
$ 3 ,5 1 1
2 9 ,4 0 8
4 5 ,8 8 4
2 0 ,9 8 8
15,198
16,640
15,355
42,271
13,108
13,4 5 6
2 6 ,5 7 6
19,187
24,3 4 6
26,3 5 5
112,018
41 ,1 6 9
46,8 8 0
60,7 1 4
74,6 3 4
60,716

48
61
62
72
38
49
64
93
45
72
60
47
64
414
93
30
17
63
59
32

Total payments.
$ 5 3 1 ,6 7 5
494,701
393,517
357,587
292,673
224,419
4 2 8 ,9 6 4
487,797
534,897
5 1 0 ,524
4 6 7 ,599
608,993
622,027
.504,757
575,020
514,517
6 4 2 ,584
531,145
636,857
738,106

73
05
99
52
76
83
78
32
82
76
33
60
29
534
58
55
30
56
72
32

Difference.
$ 3 1 ,8 3 2
'386,433
4 3 7 ,4 8 4
460,331
752,489
5 2 6 ,8 4 8
683,952
900,583
852,817
974,070
1,130,856
716,616
843,247
1,151,026
1,031,806
1,475,169
1,154,879
1,422,683
1,751,599
1,637,427

29
04
11
76
66
79
96
21
20
85
15
17
87
024
70
16
50
52
62
11

$708,425 10J $10,098,370 34* $18,603,155 69*

In 1834 and 1835, the expenses for the repairs and maintenance of the canals aver­
aged $522,711 for each year. This embraced the Erie, Champlain, Oswego, Cayuga
and Seneca, Chemung and Crooked Lake Canals.




416

Journal o f Mining and Manufactures*

In 1837 and 1838, after the Chenango Canal was completed and added to the six ca­
nals before named, the expenses for repairs and maintenance averaged $615,510 for each
of the two years referred to.
From 1841 to 1845, after the Oneida Lake Canal, and fifty-two miles of the
Genesee Valley Canal were added, the expenses have averaged a little less than in 1837
and 1838, being $612,642 for each of the last five years. The expenses of the last year
are $125,464 above the average of the five years. The average expenses of the Erie
and Champlain Canals, for five years, is $483,127 09 for each year; the expenses of
1845 being $99,023 above the average of the five years.
The tolls of the Erie and Champlain Canals, for the last five years, average
$1,988,726 32 for each year. The average for the preceding five years, that is, from
1836 to 1840, inclusive, is $1,464,845 63. The tolls of 1845, on the Erie and Cham­
plain Canals, are $235,540 above the average of the last five years, and $759,421 above
the average of the five years from 1836 to 1840.
The tolls of all the canals average for the last five years, $2,099,233 07, and for the
preceding five years from 1836 to 1840, $1,527,844 11. Average increase for the last
five years over the preceding five years, $571,388 96.

JOURNAL OF MINING AND MANUFACTURES.
TO PA PE R M ANUFACTURERS.
T he Southern States have of late evinced a considerable interest in the subject of
manufactures; and we notice by the journals from that region, the establishment of vari­
ous branches in several of the slave States. A gentleman, residing at Augusta, Ga.,
wrote us some time since, in regard to the establishment of a paper-mill in that city, re­
questing us to call the attention of paper-makers to the facilities that would be afforded
to a competent person to engage in the business at Augusta; which we should have done
before, but the letter was mislaid, and the subject passed out of our mind. W e therefore
give below a large part of the letter, as it seems to offer extraordinary advantages to any
one who may feel disposed to accept the proposition of the writer.*
A ugusta, Ga ., July 13,1846.
F reeman H unt, E sq .
Dear S i r :—Although a stranger to you, save from being one of your subscribers, I

have taken the liberty of inquiring, whether you can inform me of a good paper manufac­
turer who would like to come south, and enter jointly, with a responsible partner, for its
manufacture. This place, situated at a central point of communication, with Savannah
and Charleston on the one side, and an immense country, including two-thirds of the
best populated portion of Georgia on fthe other, will very soon have a canal completed,
which has been built at an expense of more than $150,000, expressly for manufacturing
purposes. It has seemed to me, that no more profitable enterprise could be entered into
than this, for the following brief reasons. We have not a single mill in Georgia or Ala­
bama. The whole supplies of paper consumed in those States, are procured from north­
ern places, with the exception of a small portion supplied bvtw o mills working at Green­
ville, S. C., the principal supplies from those mills being sold at this place. A mill at Au­
gusta, properly managed, would have a decided advantage over one at any other place, and
particularly those of Greenville, as the whole material for manufacturing, and the paper
when manufactured, has to be transported by wagons a distance of over 200 miles. The
facilities for procuring rags, &c., will be very great, owing to our connection by railroad,
via a large cquntry in Carolina and Georgia, and our river connection with Savannah.
Labor, also, is cheap with us, and all the expenses of living are low. This, added to the
extreme healthiness of the city, would, I think, make it desirable for any person who
could be aware of the many advantages which are offered to enter into it.
* * * * * * * 1 am fully aware of its success, and would enter one-half with a
practical workman who would come out. Printing and wrapping-paper could be sold in
immense quantities, and also good manufactured writing-paper.
* The name of the writer will be given on application to the Editor of the Merchants’
Magazine.
t Connected with a railroad through its very centre, and by water communication for
small boats in another direction.




Journal o f Mining and Manufactures.

417

PROGRESS OF IN V EN TIO N IN T H E U N ITED STATES.
In the Merchants’ Magazine for June, 1844, we compiled, from the Patent Report of
Mr. Ellsworth for 1843, and other sources, a few facts illustrative of the “ Progress of In­
vention and Manufactures in the United States.” This article, Mr. Putnam, the intelli­
gent American bookseller in London, published in his “ American Facts,” which em­
braces “ notes and statistics relative to the government, resources, manufactures,” etc.,
etc., of the United States, adding the following statements in regard to the inventive ge­
nius of our countrymen, closing with a parliamentary document from England, which
we also give below :—
A great part of the machinery used in cotton-mills in England, is either entirely Ameri­
can in its origin, or has American improvements that are essential to its perfection. The
card-making and reed-making machines are American inventions. The nail-machines,
the screw-machines, the pin-machines, the hook-and-eye machines, all originated in the
United States. The present improved method of bleaching fabrics of all kinds, which
has so essentially simplified the former tedious and expensive process, is the invention of
Mr. Samuel W. Wright, formerly of New Hampshire, who has been the originator of
several labor-saving machines, generally adopted in this country. He has recently per­
fected a process for making paper from straw, that bids fair to revolutionise the present
mode both as regards quality and cost
EXTRACT FROM THE REPORT ON EXPORTATION OF MACHINERY, (HOUSE OF COMMONS,)
APRIL, 1841.

Question 1544. “ Chairman.—Are we indebted to foreigners, to any great extent, for
inventions in machinery ? Answer.—I should say that the greatest portion of new inven­
tions lately introduced in this country have come from abroad; but I would have it to be
understood, that by that I mean, not improvements in machines, but rather, entirely new
inventions. There are certainly more improvements carried out in this country; but I
apprehend that a majority of the really new inventions, that is, of new ideas altogether
in the carrying out of a certain process by new machinery, or in a new mode, have orig­
inated abroad, especially in America.”
AROM ATIQUE VEGETABLE DISTILLATIO NS.
The application of chemistry to the arts of life, has produced a curious result, and one
likely to be valuable in cookery and commerce. M. Milot, of the Academy of Sciences,
has succeeded in obtaining by distillation, in a pure, colorless, and liquid form, all the
properties of the various culinary vegetables. Thus he can put up a bottle of carrots,
parsnips, turnips, or onions, and you may carry it all over the world, certain of having
with you the true flavor of the vegetable. A table-spoonful is enough for one pound of
m eat The secret lies in the mode of distillation, by which the offensive parts of the
vegetable are left. It is already an object with commercial men to export these essences,
which are termed aromatique, to the French colonies, and with the government there is
an intention of using them extensively in the navy.
COTTON FACTORY IN FLORIDA.
A few enterprising citizens of Pensacola, established in Arcadia, a short distance from
the former place, about a year ago, a cotton factory. The Pensacola Gazette says:—
“ The building is ninety-four by thirty-eight, two stories high from attic to basement,
nine hundred and sixty spindles, forty operatives, all black girls, from fifteen to twenty
yearn, and are mostly all married, and look as happy and contented with their vocation as
it has been our lot to see anywhere ; they are comfortably lodged, well fed, well clothed,
and kindly treated ; twenty.four looms, making part twilled and part cotton cloths, aver­
aging four thousand yards a week, and will shortly increase to six thousand, or three
millions per year. The cost of the building and machinery is something near $60,000,
and five citizens here are the proprietors.”
V O L. X IV .----NO. IV .




27

418

Journal o f Mining and Manufactures.
INCREASED DEMAND FOR DIAM OND-DUST.

The demand for diamond-dust, within a few years, has increased very materially, on
account of the increased demand for all articles that are wrought by i t ; such as cameos,
intaglios, &c. Recently there has been a discovery made of the peculiar power of dia­
mond-dust upon steel—it gives the finest edge to all kinds of cutlery, and threatens to
displace the hone of Hungary. It is well known that in cutting a diamond, (the hardest
substance in nature,) the dust is placed on the teeth of the saw, to which it adheres, and
thus permits the instrument fc> make its way through the gem. To this dust, too, is to be
attributed solely the power of man to make brilliants from rough diamonds ; from the
dust is obtained the perfection of the geometrical symmetry which is one of the chief
beauties of the mineral, and also that adamantine polish which nothing can injure or af­
fect, save a substance of its own nature. The power of the diamond upon steel is
remarkable : it is known to paralyze the magnet in some instances—and may there not
be some peculiar operation upon steel with which philosophers have not yet taught us to
be familiar ? How is it that a diamond cast into a crucible of melted iron converts the
latter into steel? Whatever may be said, it is evident that the diamond-dust, for sharp­
ening razors, knives, and cutlery, is a novelty which is likely to command the attention
of the public, whether or not it is agreed that there is anything beyond the superior hard­
ness of the dust over the steel to give that keenness of edge that has surprised all who
have used it.

M ANUFACTURE O F PRESSED GLASS TUMBLERS.
The following comprehensive account of the manufacture of pressed glass tumblers,
is derived from a correspondent of the Christian M irror:—
“ In the first place, the workmen have a brass mould, consisting of a solid mass, about
as large over as a half-peck measure, containing a hollow in it exactly of the form of the
tumbler to be made, with a follower of brass of the same form, but so much smaller as
to fit the inside of the tumbler. When the two parts of the mould are put together, the
space between them is the exact thickness of the vessel required. In the process of man­
ufacturing, three men and two boys are required. The first thing done, is for one of the
men to dip an iron rod in the melted glass, and move it about until he has a sufficient
quantity of the fluid mass on the end of his rod ; he then holds over the hollow of the
mould, and, with a pair of shears, cuts off what he judges to be just enough to constitute
the tumbler. Instantly the other man brings down the follower with level power, and
the melted glass is so compressed as to fill the cavity of the mould. He then turns his
mould bottom up, with a little blow, and the tumbler drops red hot upon the stone table.
One of the boys, with an iron rod, having a little melted glass on its end, presses it on
the bottom of the tumbler, and it slightly adheres. He then holds it in the mouth of a
glowing furnace, turning it rapidly, till it is almost in a melted state, when the third man
takes it, and whirling the rod and tumbler on a sort of arm of a chair, he holds a smooth
iron tool against the edge of the tumbler till all the roughness is removed from its edges,
when a boy takes the rod from him, and, by a slight stroke on the end of it, drops the
tumbler, and places it in a hot oven to cool gradually. These five hands will make a
beautiful tumbler in about forty seconds, or about one hundred in an hour.”

W H IP MANUFACTORY A T CAM DEN.
An extensive whip manufactory has been established on the Burlington road, four miles
from Camden, N. J., where large quantities of whips are made—from the cheapest kind
up to the most elegant, with silver-mounted handles—for supplying the western and
southern country, and also for export to London. The proprietor of the factory is MrSamuel Fitch.




419

Journal o f Banking, Currency, and Finance.

JOURNAL OF BANKING, CURRENCY AND FINANCE.
DEBTS OF T H E ST A T E OF N E W YORK.
T he following statement embraces the debts of all the canals, the debts of the railroads
which have failed to pay interest, and the debt of the general fund, being the aggregate
of the direct debt on which the State is now paying interest. The first column shows the
amount of principal payable in each y ear; second, the interest payable in each year on
the whole debt; third, the amount of principal and interest payable in each year, from
1st of June, 1846, to the maturity of the stock or debt. This table is a consolidation of
three tables in the valuable report of A. C. F lagg, Esq., the Comptroller of the State,
made to the Convention, July 7th, 1846:—
Principal actually
payable in each.
year.
1846 , from 1st Ju n e to 3 0 ih S ept., $ 5 8 2 ,3 0 4 00
13,000 00
1847, 30th S e p te m b e r,.........
((
1,952,843 00
1848,
SS
2 ,1 4 9 ,4 0 0 00
1849,
IS
436,0 0 0 00
1850,
(I
1 ,732,846 65
1851,
tS
1852,
4 6 7 ,0 0 0 00
l<
1853,
u
520,000 00
1854,
(«
1855,
((
4 ,6 4 7 ,8 9 5 59
1856,
(I
1857,
it
3,158 ,6 0 5 34
1858,
(«
2 5 0 ,0 0 0 00
1859 ,
((
1,293,100 00
1860,
s
i
1861,
3 ,682,974 23
a
1862,
1,900,000 00
tS
1863,
Si
1864,
587,7 0 0 00
Si
1865,
2 8 ,0 0 0 00
Year.

$ 2 3 ,4 0 1 ,6 6 8 81

Interest actually
payable in each
year,
$ 4 4 3 ,9 5 6 56
1,259,480 56
1,222,187 50
1,091,706 69
9 7 6 ,5 3 4 85
926,2 1 8 19
862,8 9 7 40
834,8 7 7 40
826,6 2 7 40
803,8 7 7 40
653,877 40
570,838 30
532,6 0 5 73
410,6 5 8 03
3 8 3 ,8 8 6 53
220,810 38
111,986 50
29,4 8 6 50
19,2 4 3 25
1,540 00
$ 1 2 ,1 8 3 ,2 9 6 57

Total.
$ 1 ,0 2 6 ,2 6 0
1,272,480
3,175,030
3,241,106
1,412,534
2,659,064
1,329,897
834,877
1,346,627
803,877
5.301,772
570,838
3,691,211
660,658
1,676,986
3,903,784
2,011,986
29,486
606,943
29,540

56
56
50
69
85
84
40
40
40
40
99
30
07
03
53
61
50
50
25
00

$ 3 5 ,5 8 4 ,9 6 5 38

FO R EIG N BANKING ESTABLISHM ENTS.
S t. P etersburgh. Accounts are kept here, and, for the most part, throughout Russia,
in rubles of 100 copecks. The banks of St. Petersburgh are—
1. The Imperial Loan Bank, established in 1786, among the statutes of which are the
following:—the capital of the bank shall consist of thirty-three millions of rubles, twentytwo millions for the nobility, and eleven millions for the towns. The bank shall be im­
mediately under the Emperor. It shall lend money at 5 per cent interest, and pay 4 J per
cent interest on deposits. It shall grant assurances on houses, &c., at 1£ per cent premi­
um, on three-fourths of the value of the property as fixed by sworn appraisers. It shall
discount bills, but not at a higher rate than J per cent per mensem.
2. The Assignation B ank, which is a bank of issue. And—
3. The Commercial Bank, established in 1818, which is, to a certain extent, a transfer
deposit bank, as it receives in deposit, gold and silver bullion, and keeps a current ac­
count of it at an annual charge of i per cent, and transfers such bullion in sums not less
than 500 rubles, from one account to another, also at a charge of •£ per cent. These
banks have agencies in all the most important places of trade throughout Russia.




420

Journal o f Banking, Currency, awe? Finance.

W arsaw : capital of P oland. Accounts are kept here in florins (zlots,) at 30 groschens, at 10 Pfennigs, formerly at 18 Pfennigs.
The Bank o f Warsaw, established in 1830, issues notes of 5, 10, 50, 100, 500, and
1,000 florins. The capital consists of mortgages on domains, amounting to forty mil­
lions, and of sixteen millions of paper money. It is a loan and discount bank, and its
principal object is to keep down the extraordinary high rate of interest which generally
prevails throughout Poland.
H amburgh . Accounts are kept here in marks, at 16 schillings, at 12 pfennigs. The
Bank o f Hamburgh was established in 1619, and consists of—
1. A Transfer Deposit Bank, at which payments of 100 marks are made by transfer­
ring from one account to another. It is the common bank of all the merchants, and the
medium of payment is bars of silver, valued according to weight at certain fixed prices.
A fine of 3 per cent is levied on those who transfer more bullion than stands to their
credit. Depositors may inspect their stock of bullion every morning till nine o’clock.
The bank is closed every year from the 1st to 15th January, and on Sundays and
holidays.
2. A Loan Bank, at which money is advanced on gold and silver articles, to the extent
of three-fourths of their value, at 6 per cent per annum, interest. If the articles pledged
contain pearls and precious stones, they are weighed merely as gold, and reckoned ac­
cordingly; if the interest be not regularly paid every six months, but remains in arrear
eighteen months, they are put up to auction after the expiration of that period. As the
bank is closed from 1st to 14th January, no transfers of bullion can be made until the 15th
January. There is also an association of several of the chief commercial houses, by
which advances are made upon imperishable property, and bills discounted.
L eipsic : in the K ingdom of S axony . Accounts are kept here, and throughout the
kingdom of Saxony, in dollars, at 24 groschens, at 12 pfennigs.
The Discount Bank of Leipsic, w’ith a capital of 250,000 specie dollars, in 500 shares
of 500 dollars each, in addition to discounting bills, and transacting other banking busi­
ness, issues notes of 100 specie dollars each, which freely circulate in trade, as they are
payable on demand. One-half of the profits of the bank is divided among the share­
holders, and with the other half the expenses are paid, and a reserve fund formed.
G enoa. The Bank o f Genoa was established in 1407, under the name of the St.
George’s B ank; its transactions were, however, suspended in 1746, in consequence of
several unbyward events arising from w’ar, and entirely ceased on the annexation of Ge­
noa to France; but were renewed in 1814, and are still continued. The shares of the
bank, for which the customs, salt, and other duties of the present Duchy of Genoa are
assigned, are of variable value, and bear interest at from 2 to
per cent.
The four Deposit Banks receive money, without, however, paying interest on it, and
return it in the same description of coin in which it was deposited, or in bank notes,
which circulate as hard cash. No embargo can be placed on moneys deposited in any of
the banks.
S tockholm. Accounts are kept here and throughout Sweden, in rix dollars, a t 48
skillings, at 12 pfennigs.
The paper money has consisted, since 1777, of bank notes of one rix dollar, which
have borne a variable value in exchange for silver coin ; for instance, in 1829, one rix
dollar in silver was worth 128 skillings in bank notes, or 100 rix dollars in silver were
worth 266 rix dollars in bank notes.
The bank was established in 1657.
Accounts are kept throughout Norway in specie dollars, at 5 orts ; or in marks, at 24
skillings. The paper money in which payments are, for the most part, made, consists of




Journal o f Banking, Currency , and Finance.

421

notes of 100, 50, 10, 5, 1, $, and one-fifth specie dollars, which are issued by the bank
at Drontheim, but which lose about 40 per cent in exchange for coin.
B russels. Accounts are kept here, and throughout Belgium, either in florins, at 100
cents, as in Holland; or in francs, at 100 centimes, as in France.
The Bank o f Brussels has a capital stock of fifty millions, in 100,000 shares, at 500
florins each. It receives deposits, discounts bills, and transacts the monetary business of
the government, and has various branches. The shares bear an interest of 5 per cent
in addition to the dividend. Since 1827, a bank has existed at Antwerp, at which a
credit may be opened on a deposit of bullion, and payments made by a transfer of such
bullion from one account to another. In addition to transacting other banking business,
the bank issues notes of 500 to 1,000 florins.
Bordeaux : capital of the department of the Gironde. Accounts are kept here as
in the other parts of France.
The Bank of Bordeaux is a private establishment, in 2,000 shares, of 1,000 francs
each. It discounts bills on Bordeaux and Paris, at 4$ and 5 per cent, and issues notes of
500 to 10,000 francs each.
P aris. Accounts are kept here in francs, at 100 centimes, and in retail trade, also in
francs, at 20 sous, at 5 centimes.
The Bank of France, at Paris, was chartered in 1803, with privileges, at first, for 15
years; but in 1806, they were extended till 1843. Its capital consists of one hundred
and eight millions of francs, in 90,000 shares of 1,200 francs each, which bear interest at
6 per cent. Only 67,900 shares can be transferred from one individual to another, as the
remaining 22,100 shares belong to the bank. The price of a share is generally from
1,600 to 2,000 francs. The bank is privileged to issue notes payable to bearer on de­
mand, to discount bills, to make advances on government paper, bullion, and precious
stones, and to transact other usual banking business. In addition to the ordinary divi­
dend, two-thirds of the clear profits are divided half-yearly among the shareholders, the
other third being carried to a reserve fund. The court of directors is composed of 20
members. The governor must be a proprietor of 100 shares, at least, and each of the
deputy governors must be a proprietor of 50 shares at least.
The Discount Bank at Paris, is also a joint stock bank, with a capital of thirty mil­
lions of francs, in 20,000 shares of 1,000 francs each, and 20,000 shares of 500 francs
each. The notes issued by this bank are of 500, 400, 300, 200, and 100 francs each,
and are readily received, as they are at all times convertible.

BRITISH -A M ERICA N LAND COM PANY.
The annual meeting of the proprietors of this company was held on the 31st of March,
1846, at the London Tavern, London, for the purpose of receiving the report of the di­
rectors, and other business. Mr. A. Gillespie, in the chair. The report was read to the
meeting as drawn up by the directors—from which it appears that there has been a dim­
inution in the sales of land effected within the y ear; the amount being 14,125§ acres,
for a sum of £8,992 18s. 6d., or 11s. 6d. per acre ; while those reported in 1844 were
22,462$ acres, for £14,160, or 11s. Of per acre. On the whole, the affairs of the compa­
ny in Canada were improved during the year. The available assets there on the 31st of
December, 1844, were:—Cash, £648 ; produce on land, £719 ; cotton factory shares,
£455 ; total, £1,822. Reduced by subsequent remittance to London, £277 ; being
£250 sterling; total, £1545. The assets on the 31st of December, 1845, were—cash,
£426 ; produce, £657 ; cotton factory, £500 ; railway shares deposit, £250 ; new land
purchased, £100 ; bills and notes, £262 ; total, £2,195.




422

Journal o f Banking, Currency, and Finance,
BANK O F ENGLAND W E E K L Y RETURNS.*

We publish below an official account of the condition of the Bank of England, made,
pursuant to an act of Parliament, for the weeks ending (on Saturday,) as follows:—
ISSUE DEPARTMENT.

1846.

1846.

1846.

Notes issued,.....................

July 25th.
£ 2 9 ,3 1 2 ,9 4 5

August 1st.
£ 2 9 ,2 9 2 ,3 2 0

August 8th.
£ 2 9 ,3 8 6 ,3 0 5

August 15th.
£ 2 9 ,4 5 6 ,5 3 5

Government debt,.............
Other securities,................
Gold coin and bullion,....
Silver bullion,....................

11,015,100
2 ,984,900
12,875,243
2 ,4 3 7 ,7 0 2

11,015,100
2,984,900
12,854,618
2,437 ,7 0 2

11,015,100
2,984,900
12,935,426
2,450,879

11,015,100
2,9 8 4 ,9 0 0
12,958,912
2,497,623

.£29,312,945

£ 2 9 ,2 9 2 ,3 2 0

£ 2 9 ,3 8 6 ,3 0 5

£ 2 9 ,4 5 6 ,5 3 5

1846.

BANKING DEPARTMENT.

Proprietor’s capital,.........
R est,..................................
Public deposits,*.............
Other deposits,.................
Seven day and other bills,

Government securities,!..
Other securities,................
Notes,................................
Gold and silver coin,.......

1846.

1846.

1846.

1846.

July 25th.
£ 1 4 ,5 5 3 ,0 0 0
3 ,508,378
3,438,401
14,305,311
940,0 2 4

August 1st.
£ 1 4 ,5 5 3 ,0 0 0
3,597,679
3 ,793,610
13,449,388
943,423

August 8th.
£ 1 4 ,5 5 3 ,0 0 0
3,603,683
5,014,200
12,456,737
9 5 2,056

August :15th.
£ 1 4 ,5 5 3 ,0 0 0
3,611,298
6,135,636
10,794,523
9 0 5,994

£ 3 6 ,7 4 5 ,1 4 4

£ 3 6 ,3 3 7 ,1 0 0

£ 3 6 ,5 7 9 ,6 7 6

£ 3 6 ,0 0 0 ,4 5 1

12,962,560
14,583,407
8 ,5 6 2 ,6 9 5
636,482

12,961,735
14,068,257
8 ,7 9 6 ,8 7 5
510,233

12,961,735
13,984,578
9,075,160
558,203

12,961,735
13,848,421
8,601,335
588,969

£ 3 6 ,3 3 7 ,1 0 0

£ 3 6 ,5 7 9 ,6 7 6

$ 3 6 ,0 0 0 ,4 5 1

£ 3 6 ,7 4 5 ,1 4 4

* Including exchequer, savings’ banks, commissioners of national debt,, and dividend
accounts.
t Including dead weight annuity.

B R IT ISH PO ST-O FFICE RETU RN S FO R 1846.
The post-office returns recently presented to parliament possess considerable interest.
The payments into the exchequer, from the revenue of the post-office in the year amount­
ed to £753,000, and the nett profit to the exchequer, after deducting the expenses,
£47,581 17s. The gross receipt of the post-office for the year ending the 5th of Janua­
ry was £1,927,906, from which was deducted £52,469 9s. 7£d. for returning refused,
mis-sent, and re-directed letters, over-charges, and returns, making the nett receipt of
revenue £1,875,436 14s. 9£d. The charges of management as detailed, were
£1,114,849 2s. 6d., and payments made, of which £10,307 10s. was for pensions, mak­
ing the total payments out of the revenue of the post-office in its progress to the exche­
quer, £1,125,594 5s., which with £3,157 10s. 2£d., the difference in amount of balances
and bills outstanding at commencement and close of the year, reduced the payments into
the exchequer to the amount stated (£753,000.) Of payments out of the exchequer,
£705,418 3s. was paid for expenses connected with the packet-service—of which
£655,418 3s. was on account of the packet-service defrayed from grants of parliament
for naval service, and £50,000 to the East India Company towards the expense of
eteam-communication with India by way of the Red Sea and Bombay, according to the
agreement made with the company in 1837, voted in the estimates for miscellaneous ser­
vices. The several accounts in the returns are given in detail.




Mercantile Miscellanies.

MERCANTILE

423

MISCELLANIES.

RULES FO R G E T T IN G R IC H :
OR, HINTS FOR MERCHANTS AND BUSINESS MEN.
A l m o s t every merchant has been rich, or at least prosperous, at some point o f his life ;
and if he is poor now, he can see very well how he might have avoided the disaster
which overthrew his hopes. He will probably see that his misfortunes arose from ne­
glecting some of the following rules:—
Be industrious. Everybody knows that industry is a fundamental virtue in the man
of business. But it is not every sort of industry which tends to wealth. Many men
work hard to do a great deal of business, and, after all, make less money than they
would if they did less. Industry should be expended in seeing to all the details of busi­
ness—in the careful finishing up of each separate undertaking, and in the maintenance
of such a system as w'ill keep everything under contro 1.
Be economical. This rule, also, is familiar to everybody. Economy is a virtue to be
practised every hour in a great city. It is to be practised in pence as much as in pounds.
A shilling a day saved, amounts to an estate in the course of a life. Economy is espe­
cially important in the outset of life, until the foundations of an estate are laid. Many
men are poor all their days, because, when their necessary expenses were small, they did
not seize the opportunity to save a small capital, which would have changed their for­
tunes for the whole of their lives.
Stick to the business in which you are regularly employed. Let speculators make their
thousands in a year or day; mind your own regular trade, never turning from it to the
right hand or the left. If you are a merchant, a professional man, or a mechanic, never
buy lots or stocks unless you have surplus money which you wish to invest Your own
business you understand as well as other m en; but other people’s business you do not
understand. Let your business be some one which is useful to the community. All such
occupations possess the elements of profits in themselves, while mere speculation has no
such element.
Never take great hazards. Such hazards are seldom well balanced by the prospects
of profit; and if they were, the habit of mind which is induced is unfavorable, and ge­
nerally the result is bad. To keep what you have, should be the first rule; to get what
you can fairly, the second.
Do not be in a hurry to get rich. Gradual gains are the only natural gains, and they
who are in haste to be rich, break over sound rules, fall into temptations and distress of
various sorts, and generally fail of their object. There is no use in getting rich sudden­
ly. The man who keeps his business under his control, and saves something from year
to year, is always rich. At any rate, he possesses the highest enjoyment which riches
are able to afford.
Never do business for the sake of doing it, and being counted a great merchant. There
is often more money to be made by a small business than a large one; and that business
will in the end be most respectable which is most successful. Do not get deeply in
debt; but so manage as always, if possible, to have your financial position easy, so that
you can turn any way you please.
Do not love money extravagantly. W e speak here merely with reference to getting
rich. In morals, the inordinate love of money is one of the most degrading vices. But
the extravagant desire of accumulation induces an eagerness, many times, which is im­
prudent, and so misses its object from too much haste to grasp i t




424

Mercantile Miscellanies.
ILLU STRA TIO N S O F L IFE INSURANCE.

There are two prominent objects which can be effected by means of life insurance.
The first in importance, and of the highest consideration, is, that husbands and fathers
can secure a comfortable provision, in the event of their death, to their widows and chil­
dren. The second is, that all persons having a pecuniary interest in the existence of a
life, can secure that interest. Recent transactions of the M utual Life Insurance Com­
pany of New York, will serve to illustrate the subject.
A gentleman residing in the State of Indiana, on the 19th of August, 1845, took out
a policy with this company on his life for $3,000—but one payment wa» made, of $102.
He died on the 19th of September, and his widow received from the office the sum in­
sured, $3,000. She was so forcibly impressed with the advantages of life insurance,
being a recipient of its benefits, that she immediately effected an insurance in the sum of
$5,000 on her own life with this office, for the protection of her family of young chil­
dren. A merchant in one of the Southern States had a debt due him of $5,600—know­
ing that its ultimate payment depended on the continuance of the life of his debtor, he
took out a policy on it with this office for that sum—one year’s premium had been paid
of $161 84. Soon after, he was attacked with a severe illness, which terminated his
life in September, 1845. The company, on presentation of the requisite proofs of his
death, paid the sum insured; and by this precautionary measure, he unexpectedly and
suddenly realized a doubtful claim. A gentleman in New York became security for his
friend in the sum of $3,000, by endorsement on his paper. He had the prudence to
effect insurance on his life at this office for that amount. Only one payment ($36) was
made. This was done on the 3d of July, 1845, and he died the 18th of September.
The company paid him the $3,000, which he applied to the payment of his endorsement.
Thus, by this insurance, he was released from his liability, which otherwise might have
put him to serious inconvenience.
The late Charles O. Handy, Esq., president of the New Jersey Steamboat Transpor­
tation Company, had insured on his life to the amount of $32,000, divided among four
different companies. $10,000 was insured for the benefit of the widow of the deceased;
and the other sums assigned to parties to whom Mr. Handy, earlier in life, had been in­
debted ; and a large part of the amount was insured only within a few weeks of his
death.
W EA LT H Y M EN O F BOSTON.
A correspondent of the Boston Evening Gazette furnishes the following statistics of
the rich men of Boston, a large portion of whom have acquired their wealth either by
commerce or in manufactures, or by both. Of the names given, in a work entided “ Our
First Men,” from which this table is compiled—
314 are set down from................................................
65
«
“
31
“
“
10
“
“
14
“
“
6
«
“ ....................................................
9
“
“ ........................................................................
3
“
“
3
“
“
1
“
« ............................................................

$100,000 to $200,000
200,000
300,000
300,000
400,000
400,000
500,000
500,000, and upwards.
600,000
“
1, 000,000
1,500,000
“
2,000,000
“
6, 000,000
“

456 persons, of which 10 are over 80 years of age, and 38 are under 40.
them are unmarried.




Eight of

Mercantile Miscellanies.

425

LEG ISL A T IO N R ESPECTIN G T H E LAW S O F DEBTOR AND CREDITOR.
All legislation is founded on an erroneous notion, which, until people clear their heads
of it, will always infect and mar all legislation in respect to the laws of debtor and credi­
tor. That erroneous notion is, that there is an innate disinclination in all men to pay
their debts ; whereas it is precisely the contrary principle that prevails. W e never knew
a man, except in a case here and there where the man was a rascal, and it is not on ex­
ceptions but on generalities that legislation ought to be founded—we say we never knew a
man who was not only desirous but anxious to pay his debts. But the legislature has ever
proceeded on the contrary supposition ; so that all the laws relating to debtor and creditor
have been made with a view to force the debtor to do that which he is willing enough to
do if he could. Now if the legislature, instead of racking its invention to devise all sorts
of pains, and penalties, and tortures, to wrench from the debtor what he has not got, had
directed its attention to devise facilities for enabling the debtor to pay as far as he can,
and not to break him down so utterly and irremediably as forever to deprive him of the
power of paying his debts, all would be the gainers to an incalculable degree. For the
creditor would have a chance of his money, which now he has n o t; the debtor would
have a chance of retrieving his position, and of fulfilling his obligations, which every
man in his heart longs to do, which now he has n o t ; and society would not be put to the
expense of all the apparatus of the law and of its huge prisons for confining unfortunate
debtors ; which ought to be regarded only as ingenious inventions for furthering the re­
vengeful feelings of the vindictive creditor, and for preventing the debtor, most effectu­
ally, from ever paying him.
FRAUDS IN T H E HARDW ARE TRADE.
It pains us to hear occasionally of frauds in almost every department of trade; the
more so, as the merchant, of all men, should be the soul of integrity and honor; and we
have on our subscription list many such; men whom we would trust with all that we pos­
sess, however prized or valuable. A correspondent of the Journal of Commerce, in com­
plaining of frauds in the hardware trade in New York, makes the following statements:
Many small articles of hardware which are sold by “ tale” or “ weight,” are purposely
put up short count, or short weight, so that the actual contents of the packages of such ar­
ticles are sometimes not more than half, and often do not exceed three-fourths of what the
labels represent them to be. Many others are sold by numbers, the sizes of which ought, of
course, to be always uniform ; but it has become a common practice, when ordering such
articles, to direct the manufacturer to “ mark up” one or two numbers ; that is, No 1 to
be marked 2 or 3, but, of course, to be charged at the regular price for No. 1 ; the mer­
chant’s object being, if possible, to cheat an unwary customer, by charging him as nearly
the price of No. 2 or 3 as dread of detection will permit him to approach. These prac­
tices are rendered, in one respect, comparatively unimportant, by the certainty that they
must soon defeat their own object, as but few persons can be found, in this country, suffi­
ciently “ verdant” to be “ shaved” in this manner more than once or twice with impunity.
The shallow artifice must be .soon detected, and the next purchase will be made with
greater circumspection, and a result more satisfactory to the purchaser. But such prac*
tices are more to be regretted on account of their tendency to subvert confidence between
man and man, and thereby immeasurably to increase the toil and trouble of transacting
business; as, where such suspicions are entertained, whether justly or not, the customer
will naturally wish personally to inspect and examine every article before purchasing.
Many other “ tricks of the trade” are “ too tedious to mention” on an occasion such as
this ; but there remains one monstrous evil which I must particularize, and that is, the too
frequent practice of selling goods, generally of German manufacture, and of indifferent
quality, under accurate imitations of the stamps and labels of the best English makers of
similar articles—such as Joseph Rogers and Sons for pocket cutlery and scissors ; Peter
Stubs, William Greeves and Sons, Ibbotsons and Spear, for saws, files, and carpenter’s
tools ; Richard Hemming and Son for needles and fishhooks; and whoever saw a Ger­
man gun which has not “ London” branded on its barrel ?




Mercantile Miscellanies.

426

BOSTON M ERCANTILE LIBRARY LECTU RES.
The directors of the Mercantile Library Association of Boston have commenced their
arrangements for a course of lectures. The programme is nearly completed, and will soon
be published. Mr. Eliot C. Cowdin, the late intelligent president, in retiring from the
chair of the institution, which he so worthily filled, it would seem is as deeply interested
in all that concerns its efficiency and prosperity as ever. He visited Washington a short
time previous to the adjournment of the first session of the twenty-ninth Congress of the
United States, and engaged several prominent statesmen to address the Library Associa­
tion during the season; among others, General Lewis Cass, of Michigan, and Hon. Jo­
seph R. Ingersoll, of Pennsylvania. Mr. Ingersoll is to give the opening address early in
October; and the poem on that occasion will be delivered by Dr. Oliver W. Holmes, of
Boston. W e shall, probably, be able to lay before our readers the programme of the
course in the November number of the Merchants’ Magazine ; and we hope to publish
some of the ablest and most appropriate of the lectures.
PRODUCTION OF PE A . N U TS IN N O RTH CAROLINA.
By the following extract of a letter in the Providence Journal, from North Carolina,
we learn the origin of the article known in commerce as “ pea-nuts,” so common in all
our grocery shops:—
“ From a narrow strip of land, extending about forty miles northerly from Wilmington,
and lying east of the old Newbern road, comes nearly the entire quantity of ground peas
(Yankee pea-nuts,) grown in the United States for market. From that tract and imme­
diate vicinity, eighty thousand bushels have been carried to Wilmington market in one
year. The ground pea (pea-nut) grows beneath the surface of the ground, as its name
imports. The plant has somewhat the appearance of the dwarf garden pea, though more
bushy. It is cultivated in hills. The pea grows on tendrils which put out from the plant,
and take root in the earth. The fruit is picked from the root by the hand, and the vines
are a favorite for horses, mules, and cattle. From thirty to eighty bushels are produced
on an acre. There are some planters who raise from one thousand to fifteen hundred
bushels a year.”
PE N N IE S CONVERTED TO POUNDS.
At a late sale of coins in London, forming a part of the collection of curiosities
owned by the late venerable Archdeacon Todd, the pennies were turned into, pounds with
a facility which would have gratified even a Yankee speculator. A Queen Anne’s farth­
ing, of the year 1713, sold for £ 1 19s. ; a pattern halfpenny, bronze, of ditto, 15s.; a
William and Mary pattern halfpenny, 19s.; a George III. pattern for a penny, (tin) 10s ;
nine Charlemagne silver pennies, £ 2 ; a silver medallion, by Pistrucci, 1838, £ 2 9s.;
and a George III. pattern for a crown, £ 2 4s.
CONSUM PTION O F C O FFE E IN BELGIUM AND FRANCE.
It was stated recently, in the French Chamber of Deputies, that the Belgians, a popu­
lation of four and a half millions, consume twenty-six millions pounds of coffee; while
the thirty-five millions of French do not consume more than thirty millions of pounds.
The French duty on one hundred pounds is more than the common original cost—the
Belgian, not a tenth part. Were the French consumption proportional to the population,
the gain w'ould be material for the venders of French sugar, colonial and indigenous.
D U TY ON COPPER IN PRUSSIA.
The king of Prussia has issued a royal ordinance, allowing the importation of sheet
copper and copper nails from foreign ports, free of duty, into the ports of Prussia, for the
purpose of sheathing and fastening the steamers now building to run across the Atlantic,
which are to touch at England, America, the W est Indies, and the Brazils. They are to
be large and splendid vessels.




427

The Book Trade.

T H E BOOK T R A D E .
1.

— T h e T r e e s o f A m e r i c a , N a t i v e a n d F o r e ig n , P i c t o r i a l l y a n d B o t a n i c a l l y D e l in e a t e d , a n d S c ie n t if i ­
c a ll y a n d P o p u la r ly D e s c r i b e d ; B e i n g C o n s id e r e d P r i n c i p a l l y w i th R e fe r e n c e to th e i r G e o g r a p h y a n d
H i s t o r y . S o il a n d S i t u a t i o n , P r o p a g a t io n a n d C u l tu r e , A c c id e n t s a n d D i s e a s e s , P r o p e r tie s a n d U s e s ,
E c o n o m y i n th e A r t s , I n tr o d u c ti o n i n to C o m m e rc e , a n d th e i r A p p l ic a t io n i n U s e f u l a n d O r n a m e n ta l
P l a n ta t io n s . I l l u s t r a t e d b y N u m e r o u s E n g r a v i n g s . By D . J . B r o w n e , a u t h o r o f t h e “ tS y lv a
A m e r i c a n a .” L a r g e 8 v o ., p p . 5 3 2 . N e w Y o r k : H a r p e r & B r o t h e r s .
T h e v e r y a p p ro p ria te title - p a g e , w h ic h w e h a v e q u o te d e n tir e , p r e s e n ts a c le a r a n d c o m p re h e n siv e

v i e w o f t h i s l o n g -lo o k e d -f o r w o r k .

A s lo n g a g o a s 1838, t h e a u t h o r m e m o r ia l iz e d C o n g r e s s to a d o p t

m e a s u r e s f o r p r o c u r i n g a n d p r e s e r v i n g a s u p p l y o f t i m b e r fo r n a v a l p u r p o s e s .

T h a t m e m o ria l w a s

r e f e r r e d a n d p r i n t e d ; b u t a s u s u a l , w h e n a n y r e a l l y i m p o r t a n t m a t t e r is i n tr o d u c e d , t h e s u b j e c t r e s t e d
w i t h C o n g re ss.

I n 1843, M r. B r o w n e i s s u e d d e f i n i te p r o p o s a l s f o r p u b l is h in g t h e w o r k b e f o r e u s , b u t

o w i n g “ t o v a r i o u s c a u s e s w h i c h h a v e u n a v o i d a b l y r e t a r d e d t h e p u b l ic a ti o n , i t c o u ld n o t w i t h p r o ­
p r ie ty b e is s u e d b e fo re th e p re s e n t tim e .”

M r. B r o w n e i s a m o s t d e v o te d , i n d u s t r io u s , a n d p a i n s ­

ta k in g n a tu r a lis t, a n d th e p r e s e n t v o lu m e is th e r e s u lt o f e x te n s iv e re a d in g o r c o n s u lta tio n o f th e
m o s t j u d i c i o u s a u t h o r s o n t h e s u b je c t , b o t h a n c i e n t a n d m o d e r n ; b e s id e s , t h e a u t h o r e x te n d e d h i s r e ­
s e a r c h e s b y t r a v e l l i n g i n v a r i o u s p a r t s o f N o r t h a n d S o u t h A m e r i c a , t h e W e s t I n d ie s , E u r o p e , a n d
W e s t e r n A f r ic a , w h e r e h e e n j o y e d t h e a d v a n t a g e o f n o t o n l y v e r i f y in g o r c o r r e c ti n g t h e o b s e r v a t i o n s
w h i c h h a d b e e n m a d e b y o t h e r s o n t h e t r e e s o f t h e s e c o u n tr i e s , b u t e x a m i n e d t h e m u n d e r v a r i o u s
c o n d it i o n s i n a s t a t e o f n a t u r e .

F o r t h e s a k e o f a id i n g i n g e n e r a l i z i n g o n t h e s h a d e s a n d v a r i e t i e s o f

t r e e s , M r. B r o w n e i n f o r m s u s , t h a t h e h a s a d o p te d t h e N a t u r a l S y s te m , i n a c c o r d a n c e w i t h t h e p l a n
o f P r o f e s s o r D o n , i n “ M il le r ’s D i c t i o n a r y ,” e t c .

I t v e r y h a p p i l y c o m b i n e s t h e s c ie n t if ic a n d t h e p o p u ­

l a r , a n d w h i l e i t w i l l a n s w e r a s a te x t - b o o k f o r t h e s t u d e n t , i t c a n n o t f a i l o f i n t e r e s t i n g t h e g e n e r a l
rea d e r.

W e h a v e n e v e r r e a d a w o r k o n a n y o f t h e n a t u r a l s c ie n c e s , w h e r e a m u s e m e n t a n d i n s t r u c ­

tio n w e r e so a d m ir a b ly u n ite d .

M a n y in te r e s tin g a n e c d o te s c o n n e c te d w i t h h is to r ic a l tre e s , p a r tic u ­

l a r l y o f t h e e lm , a r e v e r y p r o p e r l y b l e n d e d w i t h t h e m o r e s c ie n t if ic p o r ti o n s o f t h e w o r k .

T he en­

g r a v i n g s a r e n u m e r o u s , a n d a r e e x e c u t e d w i t h c o n s id e r a b l e s k il l, “ a n d h a v e e i t h e r b e e n m a d e d i ­
r e c tly fro m

d r a w in g s a fte r n a tu r e , o r fro m

a c c u r a t e d e l i n e a t i o n s a l r e a d y i n e x i s t e n c e , o n e f ig u re

r e p r e s e n t i n g t h e g e n e r a l a p p e a r a n c e o f e a c h t r e e , a n d a n o t h e r o f t h e l e a f , f lo w e r , f r u i t , e t c . ”

The

p u b l i s h e r s h a v e f a i t h f u l l y p e rf o r m e d t h e i r p a r t , b y p r o d u c i n g a r e a l l y h a n d s o m e v o l u m e i n e v e r y r e ­
s p e c t.

2.

W e s h a ll h a v e o c c a s io n to r e f e r to i t in a f u tu r e n u m b e r o f th e M a g a z in e .

— A G r e e k - E n g l i s h L e x ic o n , B a s e d o n th e G e r m a n W o r k o f F r a n c is P a s s o w . B y G e o r g e L id d e l l ,
M . A ., L a t e S t u d e n t o f C h r i s t C h u r c h , n o w H e a d M a s t e r o f W e s t m i n s t e r S c h o o l , a n d R o b e r t S c o t t , t
P r e b e n d a r y o f E x e t e r , s o m e t i m e S t u d e n t o f C h r i s t C h u r c h , a n d l a t e F e l l o w o f B a l io l C o lle g e .
W i t h C o r r e c t io n s a n d A d d i t io n s , a n d t h e I n s e r ti o n , in A l p h a b e t i c a l O r d e r , o f t h e P r o p e r N a m e s
o c c u r r in g i n t h e P r in c i p a l G r e e k A u t h o r s . B y H e n r y D r is l e r , M . A ., A d j u n c t P r o f e s s o r o f t h e
G r e e k a n d L a t i n L a n g u a g e s i n C o l u m b i a C o lle g e . N e w Y o r k : H a r p e r & B r o t h e r s .
A s t h i s g r e a t w o r k i s “ a l l G r e e k ” to u s , w e m u s t a d o p t t h e m e t h o d o f a c o te m p o r a r y , w h o s a y s h e

k n o w s “ l i t t l e o f L a t i n a n d l e s s o f G r e e k , ” — o f t h e l a t t e r , t h a t is, n o n e a t a l l , — a n d q u o t e f ro m t h e
n o t ic e o f a n e m i n e n t s c h o l a r , a p r o f e s s o r in o n e o f t h e u n i v e r s i t i e s , a s f o l l o w s :—
“ M e s s r s . L i d d e ll a n d S c o t t t o o k u p P a s s o w ’s g r e a t w o r k w h e r e h e l e f t it, a n d c o m p l e te d i t i n t h e
v e r y s p ir i t o f h i s s y s t e m b y i n d e p e n d e n t r e a d i n g o f t h e i r o w n ; s o g r e a t i n d e e d a r e t h e i r a d d it i o n s ,
t h a t t h e w o r k is r a t h e r a n e n t i r e l y n e w o n e , t h a n a m o d if ic a tio n o f P a s s o w . P r o f e s s o r D r i s l e r h a s
n o t o n ly c a r e f u lly r e v is e d th e w o rk , b u t h a s a d d e d la r g e ly to its v a lu e , e s p e c ia lly b y th e in s e r tio n o f
a l l t h e p r o p e r n a m e s i n t h e i r a l p h a b e t i c a l o r d e r . I t is i m p o s s ib l e fo r u s to n o t ic e a l l t h e m e r i ts o f t h e
E n g l i s h o r A m e r i c a n e d it o r s o f t h e le x i c o n ; s u ffic e i t to s a y , t h a t t h e f r u i t o f t h e i r la b o r s i s b e f o r e u s
In a s p e c im e n o f G re e k le x ic o g ra p h y so f a r s u p e rio r to a n y t h a t h a s y e t a p p e a r e d in th e la n g u a g e t h a t
c o m p a r is o n w o u l d b e r i d i c u lo u s . M o re o v e r , t h e g e tt i n g u p o f t h e b o o k is s p le n d i d ; t y p e , p a p e r , a n d
b i n d in g , a r e a l l o f t h e f in e s t. O u r o n l y m a r v e l i s , t h a t 1,700 p a g e s o f a G r e e k le x i c o n , t h u s d o n e u p ,
c a n b e o ffe r e d f o r fiv e d o l l a r s — a p r ic e w h i c h n o t h i n g c o u ld j u s t i f y b u t t h e p r o s p e c t — a s u r e o n e f o r
t h e p u b l i s h e r s — o f a n e x t r a o r d i n a r y a n d l o n g - c o n t in u e d d e m a n d f o r t h e w o r k . A l r e a d y h a s i t b e e n
a d o p t e d i n t h e E n g l i s h s c h o o ls , t o t h e a lm o s t e n t i r e e x c l u s i o n o f a l l o t h e r s ; a n d n o w i t is o f fe r e d ,
g r e a t l y im p r o v e d b y P r o f e s s o r D r i s l e r ’s l e a r n e d l a b o r s , f o r t h e u s e a n d c o m f o r t o f A m e r i c a n s t u d e n t s . ”

3.

— A T e x t - B o o k o n C h e m i s t r y , f o r th e U se o f S c h o o ls a n d C o lle g e s . B y J o hn W il l ia m D r a p e r , M .
D ., P r o f e s s o r o f C h e m i s t r y i n t h e U n i v e r s i t y o f N e w Y o r k , M e m b e r o f t h e A m e r i c a n P h i lo s o p h i c a l
S o c i e t y , & c . N e w Y o r k : H a r p e r &. B r o t h e r s .
T h e p r e s e n t v o l u m e , i n t e n d e d f o r t h e u s e o f c o ll e g e s a n d s c h o o ls , c o n t a i n s t h e o u t l i n e o f t h e c o u r s e

o f le c tu re s o n C h e m is try d e liv e re d b y th e a u th o r , e v e ry y e a r , to th e s tu d e n ts o f th e U n iv e rs ity o f
N ew Y o rk .

I t s d i v is io n s a n d a r r a n g e m e n t s a r e t h e r e s u l t o f a n e x p e r i e n c e o f s e v e r a l y e a r s .

It sup­

p lie s t h e d e s id e r a tu m o f a c o m p e n d io u s bo o k , w h ic h s e ts f o rth in p la in la n g u a g e th e g r e a t f e a tu re s
o f t h e s c ie n c e , w i t h o u t p e r p l e x in g t h e b e g in n e r w i t h to o m u c h d e t a i l .

T h e th re e h u n d re d e n g ra v e d

i l l u s t r a t i o n s w h i c h h a v e b e e n i n tr o d u c e d , w i l l i m p a r t a c l e a r e r i d e a o f t h e p r a c t i c a l p a r t o f e a c h l e c ­
t u r e , a n d s u p p ly , i n a m e a s u r e , t h e p l a c e o f a d e f e c t i v e o r i n c o m p l e t e a p p a r a t u s .

I t a p p e a r s to b e a n

e x c e l l e n t t e x t - b o o k , i n o n e o f t h e m o s t i m p o r t a n t s t u d i e s t h a t e m p l o y t h e m in d o f m a n .




The Book Trade ,

428
4.

— L i g h t i n th e D w e l l i n g ; o r , A H a r m o n y o f t h e F o u r G o s p e ls .
W i t h v e r y S h o r t a n d S im p le R e ­
m a r k s , A d a p t e d to R e a d i n g a t F a m il y P r a y e r s , a n d A r r a n g e d i n T h r e e H u n d r e d a n d S i x t y - f i v e Sec­
t io n s , f o r e v e r y D a y o f th e Y e a r . B y t h e a u t h o r o f “ P e e p o f D a y ,” “ L i n e u p o n L i n e , ” e t c . N e w
Y o r k : D . A p p l e to n & C o . P h i l a d e l p h i a : G e o . S . A p p l e to n .
A b e a u t i f u l l y p r i n t e d o c ta v o v o l u m e o f 550 p a g e s , w h i c h t h e c o m p i l e r s a y s , “ d o e s n o t a s p ir e t o i n ­

t e r e s t t h e l e a r n e d , o r a t t r a c t t h e p o l i t e ; b u t e n d e a v o r s t o fix t h e i n a t t e n t i v e , t o a w a k e n t h e u n r e f l e c t ­
in g , to e n lig h te n th e
h o u s e h o ld s .”

ig n o r a n t , a n d t o b e n e f i t t h e s im p le m in d s w h i c h a r e t o b e f o u n d i n o r d in a r y

T h e i l l u s t r a t i o n s a r e f a m i li a r , a n d t h e r e f l e c t io n s b r ie f , e x p re s s e d i n h o m e l y w o r d s ,

w h ic h s u it s u c h a p ro d u c tio n b e tte r th a n p ro fo u n d r e m a rk s o r e le g a n t d ic tio n .

T h e r e l i g io u s v i e w s

o f t h e a u t h o r w i l l b e r e a d i l y i n f e r r e d f ro m t h e f a c t , t h a t s h e h a s b e e n a c a r e f u l s t u d e n t o f S c o t t ’s
C o m m e n ta ry ; a w r ite r in h ig h r e p u te a m o n g t h a t c la s s o f C h r is tia n s e c ta rie s d e n o m in a te d e v a n g e li­
c a l.

I t w ill be a n a c c e p ta b le “ L ig h t in th e D w e llin g s ” o f a ll w h o e m b ra c e C h r is tia n ity , a s u n d e r ­

s t o o d b y t h e o r t h o d o x d e n o m i n a ti o n s .

5.

— T h e J e r u s a l e m D e l iv e r e d o f T o r q u a to T a s s o .
T r a n s l a t e d in to E n g l i s h S p e n s e r i a n V e r s e , w i th a
L i f e o f th e A u t h o r . B y J . H . W i f f e n . F i r s t A m e r i c a n , f ro m t h e l a s t E n g l i s h e d it i o n , w i t h s ix
f in e s t e e l e n g r a v i n g s . N e w Y o r k : D . A p p l e to n &. C o . P h i l a d e l p h i a : G e o . S . A p p l e to n .
I n t h e s p a c e a p p r o p r i a t e d i n t h i s M a g a z i n e to t h e “ B o o k T r a d e , ” a n y t h i n g lik e a c r i t ic a l n o t ic e o f

t h i s c e l e b r a t e d w o r k , w o u l d b e a lm o s t, i f n o t q u i t e a s m u c h o u t o f p l a c e , a s a c r i t i q u e o f S h a k s p e a r e ’s p l a y s , o r a c o m m e n t a r y o n t h e B ib le .

T h e p r e s e n t tra n s la tio n , w h ic h h a s p a s s e d th ro u g h

s e v e r a l E n g l i s h e d i t i o n s , a n d b e e n t h e s u b j e c t o f e l a b o r a t e c r i t ic i s m , h a s f in a l ly o b t a i n e d t h e a p p r o v a l
o f lite r a r y m e n , a n d a c q u ir e d th e d is tin c tio n o f a “ B r itis h c la s s ic .”

F i f t y - e i g h t c lo s e l y p r in t e d p a g e s

a r e t a k e n u p w i t h a m e m o i r o f t h e p o e t ’s i n t e r e s t i n g lif e , w h i c h , t o g e t h e r w i t h t h e p o e m , o c c u p ie s a
c o m p a c t E n g l is h - lo o k i n g v o l u m e o f 624 p a g e s .

T h e t y p o g r a p h i c a l e x e c u t i o n , lik e e v e r y t h i n g t h a t

c o m e s f ro m t h e p u b l i s h e r s , i s e x c e l l e n t .
6.

— T h e H i s t o r y o f C i v il iz a t io n , f r o m th e F a l l o f th e R o m a n E m p i r e to th e F r e n c h R e v o lu t i o n . B y
F . G u iz o t , t h e P r im e M in i s te r o f F r a n c e , a u t h o r o f t h e “ H i s t o r y o f t h e E n g l i s h R e v o l u ti o n o f
16 4 0 .” T r a n s l a t e d b y W il l ia m H a z l it t . V o i . I I . N e w Y o r k : D . A p p l e t o n &. C o . P h i l a d e l ­
p h i a : G e o . S . A p p l e to n .
T h e f ir s t p o r ti o n o f t h e s e l e c t u r e s , c o m p r i s i n g t h e G e n e r a l H i s t o r y o f C i v i l i z a t i o n i n E u r o p e , h a s

a l r e a d y a p p e a r e d , a n d w a s n o t i c e d in t h e M e r c h a n t s ’ M a g a z i n e .

T h a t p o r tio n , f o rm in g a v o l u m e o f

c o r r e s p o n d in g s iz e , w a s d e v o te d to E n g l a n d ; t h e p r e s e n t t r e a t s o f t h e H i s to r y o f C i v il i z a t io n i n F r a n c e .
O f t h e s e l e c t u r e s , a l a t e n u m b e r o f t h e E d i n b u r g h R e v i e w s a y s : “ T h e r e is a c o n s i s t e n c y , a c o h e ­
r e n c e , a c o m p r e h e n s i v e n e s s , a n d w h a t t h e G e r m a n s w o u l d t e r m m a n y - s id e d n e s s , i n t h e m a n n e r o f M .
G u i z o t ’s f u l f i l m e n t o f h i s t a s k , t h a t m a n i f e s t s h i m o n e t o w h o m

t h e w h o l e s u b je c t is f a m i l i a r ; t h a t

e x h i b i t s a f u l l p o s s e s s i o n o f t h e f a c t s t h a t h a v e a n y i m p o r t a n t b e a r i n g u p o n h i s c o n c l u s i o n s .”

The

p r e s e n t v o l u m e is b e a u t i f u l l y p r in t e d , a n d a d d s a n o t h e r t o t h e c a p i t a l s e r i e s o f w o r k s , k n o w n a s
“ A p p l e t o n ’s L i t e r a r y M i s c e l l a n y .”
7.

— L a n e t o n P a r s o n a g e : a T a le . B y t h e a u t h o r o f “ A m y H e r b e r t . ” “ G e r t r u d e ,” e t c . E d i t e d b y
t h e R e v . W. S e w e l l , B . D ., F e l l o w o f E x e t e r C o l le g e , O x f o r d . N e w Y o r k : D . A p p l e t o n & C o .
T h e a u t h o r o f t h i s s to r y is u n d e r s t o o d t o b e a d a u g h t e r o f t h e d i v i n e w h o s e n a m e a p p e a r s in t h e

t i t l e - p a g e a s t h e e d it o r .

I t is d e s ig n e d to c o n v e y m o r a l a n d r e l i g io u s t r u t h s in t h e g e n e r a l l y a t t r a c t i v e

f o rm o f a d o m e s t ic n a r r a t i v e .

W e h a v e n o t f o u n d t i m e t o r e a d it, b u t w e p r e s u m e i t is e q u a l to t h e

f o r m e r p r o d u c t i o n s o f t h e g i f t e d w r i t e r , w h i c h h a v e b e e n s o s u c c e s s f u l i n s e c u r i n g a 'l a r g e c la s s o f
read ers.
8.

— S t a te m e n t o f R e a s o n s f o r E m b r a c i n g th e D o c t r i n e s a n d D i s c l o s u r e s o f E m a n u e l S w e d e n b o r g .
N e w Y o r k : J o h n A lle n .

By

G e o r g e Bu sh .

T h i s p a m p h l e t c o n ta i n s a f o rm a l a n d d e t a i l e d e x p o s i t i o n o f t h e g r o u n d s o n w h i c h t h e a u t h o r w a s
i n d u c e d , a f t e r lo n g , d i li g e n t, a n d s e r i o u s i n v e s t i g a t i o n , to p r o f e s s a n u n h e s i t a t i n g a d o p ti o n o f t h e s y s ­
t e m o f r e l i g io u s d o c tr i n e a n d s p i r i t u a l d i s c l o s u r e s p r o p o u n d e d to t h e w o r l d b y E m a n u e l S w e d e n b o r g .
T h i s is P r o f e s s o r B u s h ’s o w n s t a t e m e n t , a n d n o o n e w h o r e a d s t h e p a m p h l e t b e fo r e u s , o r w h o h a s
a n y k n o w le d g e o f t h e c h a r a c te r o f th e m a n , c a n fo r a m o m e n t e n te r ta in a d o u b t o f t h e e n tir e s in ­
c e r i t y a n d p e r f e c t h o n e s t y o f h i s s t a t e m e n t s o r c o n v ic t io n s .

of

T h e r e i s c e r t a i n l y m u c h i n t h e w r i ti n g s

S w e d e n b o r g to e l i c i t t h e a t t e n t i o n o f i n t e l l e c t u a l , s p i r i t u a l - m i n d e d p e r s o n s ; a n d h i s “ t h e o r y

a n o t h e r l if e ,” f u r n i s h e s a b u n d a n t fo o d , i n p h r e n o l o g i c a l p a r l a n c e , f o r t h e l a r g e s t d e v e l o p m e n t

of
of

id e a lity ” a n d “ w o n d e r.”

9.

— A m e r i c a n T a b le a u x , N o . 1.
la n d & S u m n e r.

S k e tc h e s o f A b o r i g i n a l L i f e .

B y P . V . V id e .

N e w Y o rk : B uck-

W e h a v e n o t f o u n d t im e t o p e r u s e t h i s c lo s e l y - p r i n t e d v o l u m e , b u t w e k n o w t h e p o w e r a n d c a p a ­
c ity o f th e a u th o r w e ll e n o u g h to k n o w
p e ru s a l.

t h a t i t w o u l d r e p a y t h e r e a d e r f o r t h e t i m e o c c u p ie d i n i t s

H e d o e s n o t c la i m f o r i t t h e r e s p e c t a n d c o n f i d e n c e s h o w n to a u t h e n t i c h i s t o r y , n o r a n t i c i ­

p a t e t h e f a v o r u s u a l l y a c c o r d e d to h i g h - w r o u g h t r o m a n c e , a s i t is n e i t h e r t h e o n e n o r t h e o t h e r .

H is

o b j e c t i s r a t h e r t o s h a d e a n d c o lo r t h e n a k e d s k e t c h e s o f h i s t o r y , a n d r e s t o r e t h e m t o t h e i r n a t u r a l
s e ttin g a n d a c c o m p a n im e n ts , t h a n to a lte r o r d isto rt th e m .

R e a d e r , p u r c h a s e t h e b o o k — i t w ill a i d a

w o r t h y a n d a t a l e n t e d A m e r i c a n , w h o m o d e s t ly c a s t s a v e il o v e r h i s r e a l i d e n t i t y .




The Book Trade,

429

10.— H o c h e l a g a ; o r , E n g l a n d i n th e N e w W o r ld . E d i t e d b y E liot W arburton , Esq., a u t h o r o f th e
“ C r e s c e n t a n d t h e C r o s s .” 2 v o ls . W i l e y & P u t n a m ’s L i b r a r y o f C h o i c e R e a d i n g .
T h e a u t h o r o f t h i s w o r k , w h o i s n o w u n d e r s t o o d to b e a n o ffic er i n t h e B r i t i s h a r m y , a n d a b r o t h e r
o f M r. W a r b u r t o n , t h e e d ito r , s a i l e d fo r A m e r i c a i n J u l y , 1844, r e t u r n i n g i n t h e e a r l y p a r t o f t h e p r e ­
s e n t y e a r.

D u rin g th e in te r v e n in g p e rio d , h e v is ite d C a n a d a a n d v a rio u s p a rts o f th e U n ite d S ta te s ,

a n d t h e t w o v o l u m e s b e f o r e u s a r e t h e r e s u l t s o f h i s t r a v e l a n d o b s e r v a t io n s .

A s a to ry , h e o f c o u rse

h a s n o f a i t h i n t h e d e m o c r a ti c i n s t i t u t i o n s o f o u r c o u n t r y , a n d h e m a k e s n o e ff o r t t o c o n c e a l h i s o p i n ­
io n s o n t h i s h e a d ; n e v e r t h e l e s s , h e f in d s m u c h t o c o m m e n d , a n d l e s s to c o n d e m n , t h a n , f r o m h i s
e d u c a tio n a n d p re ju d ic e s , w e s h o u ld h a v e su p p o s e d .

W h il e h e e x p re s s e s h is a s to n is h m e n t a t th e

g e n e r a l p r o s p e r it y o f t h e A m e r i c a n p e o p le , t h e i r i n d u s t r y a n d s k il l, t h e v a s t r e s o u r c e s o f t h e i r c o u n ­
t r y , a n d t h e i r a d v a n c e i n t h e u s e f u l a r t s o f lif e , h e t h i n k s , a l t h o u g h w e p o s s e s s m a n y v i r t u e s , t h e y
a r e n o t th o s e g e n e ra lly w h ic h a ttr a c t.

“ T h e ir w e ll- d ire c te d re a s o n ,” h e sa y s, “ m a y be f a r b e tte r

t h a n m e r e g e n e ro u s im p u l s e ; b u t it d o e s n o t to u c h th e h e a rt.

W h a te v e r e s te e m th e tr a v e lle r m a y

e n te r ta in , h e w ill s c a r c e ly b e a r a w a y w ith h im m u c h w a r m th o f f e e lin g to w a rd s th e m a s a p e o ­
p le .”

B u t h is “ n a tio n a lity d o e s n o t b e tr a y h im

p e o p l e .”

in to a n y u n g e n e ro u s re m a rk s u p o n th e A m e ric a n

O n t h e w h o l e , w e c o n s i d e r i t t h e m o s t c a n d i d a n d l i b e r a l e x p o s it io n o f o u r c o u n t r y t h a t h a s

y e t a p p e a r e d , a n d w r i t t e n in v a s t l y b e t t e r t a s t e , a n d w i t h f a r g r e a t e r a b i l i t y .

W e a g re e w ith th e e d ito r ,

t h a t w h a te v e r e ls e it m a y b e , “ it i s w o rk , a n d c o n ta in s n o h a s tily - w r itte n , c ru d e im p re ss io n s , b u t th e
d e e p l y - t e s t e d c o n v ic t io n s o f a n i n q u i r i n g m i n d . ”

11 — P a p e r s o n L i t e r a t u r e a n d A r t .

B y S. Ma r g a r et F u ller , a u th o r o f “ A S u m m e r on th e L a k e s ,”
“ W o m a n i n t h e N i n e t e e n t h C e n t u r y , ” e t c . , e t c . N e w Y o r k : W i l e y & P u t n a m ’s L i b r a r y o f A m e r ­
ic a u B ooks.
W e h a v e , i n t h i s c o ll e c ti o n o f p e r i o d i c a l c o n tr i b u ti o n s , t h e d e e p e s t c o n v ic t io n s o f a n h o n e s t , e a r n e s t -

m in d e d w o m a n , i m p e l le d i n t h e u t t e r a n c e o f h e r v i e w s b y a s t a n d a r d o f e x c e l l e n c e , t h a t t h e o r d i n a r y
m in d s c a r c e l y k n o w s h o w t o a p p r e c i a t e .

I t i s w e l l k n o w n t h a t a p o r ti o n o f t h e s e p a p e r s a p p e a r e d

f r o m t im e to t im e i n t h e “ T r i b u n e , ” w h e r e t h e y a t t r a c t e d t h e n o t ic e o f a s e l e c t , b u t i n c r e a s i n g c la s s
o f r e a d e r s ; w h o , h o w e v e r w i d e l y m a n y o f t h e m m a y d iffe r f r o m t h e w r i t e r i n h e r r e l i g io u s a n d s o c ia l
t e n d e n c i e s , a c k n o w l e d g e t h e m o r a l p o w e r , a n d i n t e l l e c t u a l e l e v a t i o n o f t h e m in d , t h a t e x h i b i t e d s u c h
“ a n in te n s e h a tr e d o f c a n t, a n d s u c h a n e a g e r re v e re n c e fo r t r u t h .”

I t is r e f r e s h in g to ta k e u p a

b o o k t h a t h a s a n i n d i v i d u a l i t y a b o u t it— t h a t r e p r e s e n t s t h e f r e e s o u l o f i t s a u t h o r .

Such

a o n e is

t h i s ; a n d w e o n l y r e g r e t t h a t m a n y o f t h e b e s t p a p e r s , o n v i t a l s u b j e c t s , w e r e “ o m it te d ,” a s t h e
n e w s p a p e r s s a y , “ f o r w a n t o f r o o m .”

T h e s e l e c t i o n c o n t a i n s s o m e o f t h e a u t h o r ’s e a r l i e s t , a n d s o m e

o f h e r l a t e s t e x p r e s s io n s , t h a t “ t h o s e w h o h a v e b e e n i n t e r e s t e d i n m y m i n d ,” w e q u o t e f r o m M is s
F u l l e r ’s p r e f a c e , “ w i l l t a k e s o m e p l e a s u r e i n r e a d i n g t h e y o u n g e s t a n d c r u d e s t o f t h e s e p i e c e s , a n d
re a d ily d iso w n fo r m e w h a t I w o u ld m y s e lf d is o w n .”

12-— T h e H e r o i n e s o f S h a k s p e a r e , w i t h L e t t e r - P r e s s I l l u s t r a t i o n s .
e n tir e r e p r in t o f h e r W o rk , C h a r a c te ris tic s o f W o m e n .
W i l e y &. P u t n a m .

B y M rs . J a m e s o n ; e m b r a c i n g a n
F ro m th e la s t L o n d o n e d itio n . N e w Y o r k :

T h e m a t c h l e s s d e li n e a ti o n s o f f e m a l e c h a r a c t e r , b y t h e m a s t e r - m i n d o f S h a k s p e a r e , s e e m t o h a v e
b e e n f u l l y a p p r e c i a t e d b y M rs . J a m e s o n ; w h o , d a r t i n g h e r f a r - g la n c in g lo o k f r o m e a r t h t o h e a v e n f o r
s o m e e x q u is i te c o m p a r is o n , “ T o w h a t , ” s h e a s k s , “ s h a l l w e c o m p a r e t h e m ?— T o t h e s i l v e r y s u m m e r
c lo u d s w h i c h , e v e n w h i l e w e g a z e o n t h e m , s h i f t t h e i r h u e s a n d f o rm s , d i s s o l v in g i n t o a i r , a n d l i g h t
a n d r a i n b o w s h o w e r s V ' e t c .— f o r s o h i s g e n ia l s p i r i t t o u c h e s i n t o l if e a n d b e a u t y w h a t e v e r i t s h i n e s
upon.

E u r o p e a n a rtis ts o f th e h ig h e s t re p u ta tio n h a v e p ro d u c e d c h a ra c te r is tic p o rtra its o f th e g r e a t

S h a k s p e a r e h e ro in e s , to s h o w th e m “ n o t m e re p o e tic a l a b s tra c tio n s , n o r, a s th e y h a v e b e e n te r m e d ,
m e r e a b s tr a c t i o n s o f t h e a f f e c ti o n s ;”
B u t c o m m o n c l a y , t a ’e n f ro m t h e c o m m o n e a r t h ,
M o u ld e d b y G o d , a n d t e m p e r e d b y t h e t e a r s
O f a n g e l s to t h e p e r f e c t f o rm o f — w o m en .
E i g h t m o n t h l y p a r t s , i n i m p e r ia l o c ta v o , e a c h e m b r a c i n g t h r e e h i g h l y f in i s h e d e n g r a v i n g s , w i l l c o m ­
p le te th e w o rk .

T h e t w o n u m b e r s b e fo r e u s e m b r a c e p o r t r a i t s o f “ P o r t i a , ” “ B e a t r i c e , ” “ M i r a n d a ,’*

“ J u l i e t , ” “ O p h e l i a ,” a n d “ I m o g i n e w h i c h
h av e seen.

a r e th e m o st p e rfe c t sp e c im e n s o f th e a r t t h a t w e

W h e n c o m p l e te d , i t w i l l f o rm a s a p p r o p r i a t e a n d e x q u is i te a g ift-b o o k a s w a s e v e r o ffe re d

to t h e f a ir “ m a id e n s a n d m o th e rs ” o f A m e ric a .

13.— G a m m e r G u r t o n 's P le a s a n t S to r ie s o f th e P r i n c e s s R o s e t t a , R o b i n G o o d fe llo w , a n d P a t i e n t G r i s s e l ; w i th G a m m e r G u r t o n 's G a r l a n d . a n d B a l l a d s o f th e B a b e s i n th e W o o d , th e B e g g a r 's D a u g h t e r ,
a n d F a ir R o s a m o n d . N e w l y r e v i s e d a n d a m e n d e d . B y A m b r o se M e r t o n , G e n t ., F . S . A . N e w
Y o r k : W i l e y &. P u t n a m .
T h e m o r a l o f t h e s e a n c i e n t s to r i e s a n d b a l l a d s i s n o t s o a p p a r e n t a s m a n y o f m o r e m o d e r n d a t e ;
u n l e s s , p e r h a p s , i t b e f o u n d in t h e f a c t t h a t i t c o n t a i n s h i s t o r i e s w h i c h , i n b y g o n e d a y s , d e l i g h t e d t h e
c h i l d r e n o f E n g l a n d ’s m a s t e r - s p ir it s .

“ T h e i r d e s i g n ,” w e q u o t e f r o m t h e p r e f a c e , “ is t o c u l t i v a t e

t h e h e a r t to e n r i c h t h e f a n c y , t o s t i r u p k i n d ly f e e l i n g s , to e n c o u r a g e a t a s t e f o r t h e b e a u t i f u l , a n d to
a c c o m p l i s h t h i s b y t a k i n g a d v a n t a g e o f t h e y o u t h f u l lo n g in g f o r a m u s e m e n t . ”

T h e e n g ra v e d illu s tr a ­

tio n s a re b e a u tifu l, a n d th e u n iq u e d re s s o f th e v o lu m e w ill r e n d e r it a lto g e th e r v e ry a ttr a c tiv e to
th e young.




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1 4 . — S c e n e s i n th e R o c k y M o u n t a i n s , a n d i n O r e g o n , C a l if o r n ia , N e w M e x ic o , T e x a s , a n d th e G r a n d
P r a i r i e s ; o r , N o t e s b y th e IV a y , d u r i n g a n E x c u r s i o n o f T h r e e Y e a r s , w i th a D e s c r ip t io n o f th e
C o u n tr ie s p a s s e d th r o u g h , i n c l u d i n g th e i r G e o g r a p h y , R e s o u r c e s , P r e s e n t C o n d itio n , a n d th e D i f f e r ­
e n t N a t i o n s I n h a b i t i n g th e m . B y a N e w E n g l a n d e r . P h i l a d e l p h i a : C a r e y & H a r t .
T h e p r e s e n t a t t i t u d e o f t h e A m e r i c a n g o v e r n m e n t a n d p e o p le t o t h e c o u n t r i e s d e s c r i b e d i n t h i s v o l ­
u m e , w i l l n e c e s s a r i l y c r e a t e a d e e p i n t e r e s t i n i t s d e ta i ls .

W i t h a v i e w o f s a ti s f y i n g t h i s i n t e r e s t , t h e

a u t h o r h a s “ e n d e a v o r e d to p r e s e n t a f u l l a n d c o m p r e h e n s i v e p i c t u r e o f t h e r e a l c o n d it i o n o f r e g io n s
bo a t t r a c t i v e , a n d i n s o d o in g h e i s c o n s c i o u s o f h a v i n g e r r e d i n n o i m p o r t a n t p a r t i c u l a r . ”

W h a te v e r

i s a ff irm e d , h e a s s u r e s u s m a y b e r e l i e d u p o n a s m a t t e r o f f a c t ; w h i l e t h e d e t a i l s o f a q u e s t i o n a b l e
n a t u r e , w e a r e to i n f e r f r o m t h e g u a r d e d l a n g u a g e i n w h i c h t h e y a r e e x p r e s s e d .

T h e s im p le r e h e a r ­

s a l o f t h e c a t a l o g u e o f f a c t s r e l a t i v e to t h e m a n n e r i n w h i c h t h e f u r t r a d e is c o n d u c t e d , a n d t h e
e n o r m i t i e s c h a r g e a b l e u p o n t h e i n d i v i d u a l s e n g a g e d i n i t, w i l l p l a c e i n n o v e r y e n v i a b l e l i g h t t h e
m e n w h o l u x u r i a t e i n i t s i ll - g o t t e n g a in s .

T h e a u th o r u n d e rs ta n d s th e a r t o f c o n d e n s a tio n , a n d w e

h a v e s e ld o m m e t w i t h a w o r k , i n w h i c h s o m a n y t h in g s w e r e r e l a t e d i n s o f e w w o r d s , a n d y e t i t i s a
v o l u m e o f o v e r 3 0 0 c lo s e l y p r i n t e d p a g e s .
1 5 . — T h e M is c e ll a n e o u s W o r k s o f th e R i g h t H o n o r a b le S i r J a m e s M a c k i n t o s h .
p le te in o n e . P h i la d e l p h ia : C a r e y & H a r t.

T h r e e v o lu m e s c o m ­

T h e p r e s e n t c o l l e c t i o n c o v e r s a w i d e r a n g e o f s u b je c t s , a n d , w i t h t h e e x c e p t i o n o f t h e a u t h o r ’s
H i s to r y o f E n g l a n d , w h a t e v e r t h e e d i t o r c o n s i d e r e d t h e m o s t v a l u a b l e i n h i s w r i ti n g s .

F e w e s s a y is ts

h a v e d is p la y e d g r e a te r v e rs a tility o f t a l e n t ; a n d in th e v a rio u s p a p e rs c o m p rise d in th is v o lu m e ,
w h e t h e r d i r e c te d to l i t e r a r y c r i t ic i s m , p h i l o s o p h i c a l a n a l y s i s , h i s t o r i c a l d e t a i l , t h e d e l i n e a t i o n o f
c h a r a c t e r , o r p o l it ic a l d i s q u i s it io n , w e fin d t h e s a m e l a r g e , l i b e r a l , a n d c o m p r e h e n s i v e m in d , r e f l e c t e d
o n e v e ry page.

I t fo rm s t h e e i g h t h v o l u m e o f “ T h e M o d e rn B r i t i s h E s s a y i s t s , ” w h i c h a r e p u b l i s h e d

i n a n e a t s t y l e , a t p r o b a b l y o n e q u a r t e r t h e p r ic e o f t h e E n g l i s h e d i t i o n s .

T h e r e is , p e r h a p s , n o c o l ­

l e c t i o n o f w r i ti n g s , t h a t f u r n i s h s o c o m p r e h e n s i v e v i e w s o f t h e l i t e r a t u r e , h i s t o r y , p o l it ic s , e t c . , o f t h e
p a s t a n d p re s e n t c e n tu r y , a s th e se rie s j u s t n a m e d .
1 6 . — A u n t P a t t y 's S c r a p - B a g . B y C a r o l in e L e e I I e n t z , a u t h o r o f t h e “ M o b C a p ,” e t c .
i n o n e v o l u m e . W i t h i l l u s t r a t i o n s b y D a r le y . P h i l a d e l p h i a : C a r e y & H a r t .

C o m p le t e

T h e p u b l i s h e r s , i n a n o t e a p p e n d e d to t h i s v o lu m e , a p o lo g i z e t o t h e f a i r w r i t e r f o r c la s s in g i t a m o n g
t h e i r “ L i b r a r y o f H u m o r o u s A m e r i c a n W o r k s , ” s in c e h u m o r i s b y n o m e a n s i t s p r i n c i p a l a i m .
m o r, a s i n t h i s i n s t a n c e , w h e n u n d e r t h e c o n tr o l li n g i n f l u e n c e o f p u r i t y a n d

H u­

b e n e v o le n c e , b e c o m e s

s u b s e r v i e n t t o h i g h m o r a l a n d s o c ia l p u r p o s e s — t h e c h i e f r e c o m m e n d a t io n o f “ A u n t P a t t y ’s S c r a p B a g .”

T h e n a r r a t i v e a b o u n d s i n “ p a s s a g e s o f f ir s t- r a t e h u m o r .”

T h e h u m o r o u s p u b l ic a ti o n s o f

C a r e y & H a r t , p e r f e c t l y f r e e f r o m l o w w i t a n d o b s c e n i t y , a r e s o u g h t fo r t h r o u g h o u t t h e U n i t e d S t a t e s .
“ T h e p a r t s o f M rs . H e n t z ’s e l e g a n t p r o d u c t i o n w h i c h a r e h u m o r o u s , g iv e i t a s u f f i c i e n t c la i m to its
p o s it io n a m o n g t h e w o r k s o f t h e c h o ic e s t w i t s o f o u r c o u n t r y , e m b e l l i s h e d b y a p e n c il w h i c h p a i n t s
c h a r a c te r to t h e lif e .”
17.

— S m a l l B o o k s o n G r e a t S u b je c ts .

P h ila d e lp h ia : L e a & B la n c h a rd .

W e n o t ic e d i n t h e S e p t e m b e r n u m b e r o f t h e M e r c h a n t s ’ M a g a z i n e , N o s . I ., I I . , a n d X . , o f t h i s s e r i e s
o f re a lly c o m p re h e n siv e a n d in s tru c tiv e b o o k s.

T h e s u b je c t s e m b r a c e d i n t h e s e n u m b e r s , a r e — N o .

I V ., “ A n I n t r o d u c t i o n t o P r a c t i c a l O r g a n ic C h e m i s t r y ; w i t h R e f e r e n c e t o t h e W o r k s o f D a v y , B r a n d e ,
L i e b e g , e t c . ;” N o . V ., “ A B r i e f V i e w o f G r e e k P h i l o s o p h y u p to t h e A g e o f P e r i c l e s
“ O n M a n ’s P o w e r O v e r H i m s e l f to P r e v e n t o r C o n tr o l I n s a n i t y . ”

a n d N o. I I I .,

T h e s e w o rk s a re p rep a re d by so m e

o f t h e m o s t l e a r n e d a n d s c ie n t if ic m e n o f E u r o p e , w h o h a v e a d a p t e d t h e m t o t h e p o p u l a r m in d .
1 8 . — T h e C o n v i c t's C h ild . B y C h a r l e s B u r d k t t , a u t h o r o f “ L i l i a H a r t , ” “ T h e A d o p t e d C h i l d , ”
“ C h a n c e s a n d C h a n g e s ,” “ N e v e r T o o L a t e , ” e t c . N e w Y o r k : B a k e r & S c r i b n e r .
T h e d e s ig n o f t h i s u n p r e t e n d i n g s to r y , i s to s h o w t h e c o n s e q u e n c e s o f t h e g e n e r a l t e n d e n c y o f s o ­
c i e t y t o v i s i t t h e s in s a n d c r i m e s o f p a r e n t s u p o n c h i l d r e n , n o m a t t e r h o w p u r e , i n n o c e n t , a n d v i r t u ­
o us.

T h e m a i n i n c i d e n t s o f t h e n a r r a t i v e , s a y s t h e a u t h o r , h a v e b e e n g a th e r e d f r o m p e r s o n a l o b s e r ­

v a t i o n , a n d n o c h a r a c t e r i s i n t r o d u c e d w h o h a s n o t n o w , o r h a s n o t h a d a liv i n g r e p r e s e n t a t i v e .

M r.

B u r d e t t h a s , f o r e l e v e n y e a r s , b e e n c o n n e c t e d w i t h t h e p r e s s o f N e w Y o r k ; a f a c t i n h i s lif e , w h i c h ,
m o re th a n a n y o th e r , b r o u g h t h im in c o n ta c t w ith e v e ry v a r ie ty a n d s h a d e o f h u m a n c h a r a c te r .

H ow

f a ith f u lly h e h a s t r e a s u r e d u p th e k n o w le d g e a n d e x p e rie n c e th u s a c q u ir e d , th is , a n d o th e r n a r r a tiv e s
f r o m h is p e n , f u r n is h s a tis fa c to r y e v id e n c e .
1 9 — O u t r e - M e r ; a P i l g r i m a g e B e y o n d th e S e a .
W illia m D . T ic k n o r & C o.

B y H enry W adsw o rth L o n g fello w .

B o s to n :

T h o s e w h o r e a d t h e s e b e a u t i f u l s k e t c h e s , o n t h e i r f ir s t a p p e a r a n c e , s o m e y e a r s s in c e , w i l l a p p r e ­
c i a t e t h e t a s t e e v i n c e d b y t h e p u b l i s h e r s , i n r e p r o d u c in g a s e c o n d e d i t i o n o f t h e w o r k i n t h e B o s to n
t y p o g r a p h i c a l d r e s s , w h i c h e v e r y o n e k n o w s , is a lm o s t, i f n o t q u i t e e q u a l to t h e b e s t E n g l i s h p r in t in g .
L o n g f e l l o w i s c o n f e s s e d ly a n a r t i s t , a n d , w i t h t h e f e a r o f t h e c r i t ic s , P o e a n d M is s F u l l e r , b e fo r e u s ,
w e w i l l p r e s u m e t o s a y , h e h a s g e n iu s — t h a t i s , i f w e c o m p r e h e n d t h e s ig n i f ic a ti o n o f t h e te rm .

But

t h e a u t h o r o f t h e “ P s a l m o f L i f e ” a n d “ O u t r e - M e r ,” a l t h o u g h n o t a b o v e c r i t ic i s m , h a s n o t h i n g t o
f e a r f r o m it.




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The Book Trade.
3 0 .— M i n s t r e l s y , A n c i e n t a n d M o d e m ; w i t h a n H i s t o r i c a l I n tr o d u c ti o n a n d M o te s .
M o t h e r w e l l . 2 V o ls . B o s to n : W i l l i a m D . T i c k n o r & C o .

By W

il l ia m

T h i s c o m p i l a t io n c o n s is t s p r i n c i p a l l y o f n a r r a t i v e b a ll a d s , “ t h e r e o c c u r r in g i n i t n o c o m p o s itio n s
s t r i c t l y c a ll e d s o n g s , i n t h e s e n s e t o w h i c h t h a t t e r m is n o w g e n e r a l l y c o n fin e d , e x c e p t a f e w m o d e r n
p i e c e s .”

T h e i n tr o d u c ti o n , w h i c h o c c u p ie s o n e h u n d r e d a n d f if ty p a g e s o f t h e f ir s t v o l u m e , f o r m s

o n e o f t h e m o s t c o m p l e te e s s a y s , o n t h e a n c i e n t r o m a n t i c a n d h i s t o r ic b a l l a d s o f S c o t la n d , t h a t w e
h a v e e v e r m e t w ith , a n d it d isp la y s a n a s to n is h in g d e g re e o f r e s e a r c h a n d th o ro u g h n e s s o f in v e s tig a ­
tio n .

B e s id e s t h e e l a b o r a t e i n tr o d u c ti o n , to e a c h b a l l a d is a ffix e d e x p l a n a t o r y n o t e s , t h a t c l e a r a w a y

t h e m is ts a n d c lo u d s t h a t h u n g o v e r t h e t r a d i t i o n a r y s o n g a n d b a ll a d o f t h e p a s t .

T h e c o ll e c ti o n e m ­

b r a c e s a n u m e r o u s a n d h i g h l y i n t e r e s t i n g b o d y o f m e t r i c a l t a l e s , c h ie f ly o f a t r a g i c c o m p l e x io n , w h i c h ,
t h o u g h p o s s e s s i n g a ll t h e f e a t u r e s o f r e a l i n c i d e n t, a n d p r o b a b l y o r ig i n a ti n g i n f a c t , c a n n o t n o w , a f t e r
t h e l a p s e o f m a n y a g e s , b e , w i t h c e r t a i n t y , t r a c e d t o a n y h i s t o r i c a l s o u r c e , p u b l ic o r p r i v a t e .

“ C o l­

l e c t i o n s o f t h e s e b a ll a d s , p r i n t e d a s t h e y o r a l l y e x is t , w i l l , t o t h o s e w h o s u c c e e d u s , p r o v e a s o u r c e
o f p e c u l i a r g r a tific a tio n — a r e c o r d o f t h e m o s t i n s t r u c t i v e a n d i n t e r e s t i n g k i n d .”
21. — S a c r e d P h ilo s o p h y o f th e S e a s o n s ; i l l u s t r a t i n g th e P e r fe c t io n s o f G o d i n th e P h e n o m e n a o f th e
Y e a r . B y R e v . H e n r y D u ncan , D . D ., R o t h w e l l . A u t u m n . N e w Y o r k : R o b e r t C a r t e r .
A l t h o u g h t h i s is t h e l a s t o f t h e s e r i e s o f f o u r v o l u m e s d e v o t e d to t h e c o n t e m p l a t i o n o f t h e s e a s o n s ,
t h e A m e r i c a n p u b l i s h e r h a s r e p r o d u c e d h e r e , o n l y t h o s e r e l a t i n g t o S p r in g , S u m m e r , a n d A u t u m n ,
c o m m e n c in g s e a s o n a b l y w i t h t h e f o r m e r .

“ W i n t e r , ” w i l l o f c o u r s e b e p u b l i s h e d i n d u e t im e .

T h is

v o l u m e d iffe rs i n i t s c h a r a c t e r f r o m t h e p r e c e d i n g v o l u m e s , i n t h a t i t h a s a l e s s d i r e c t r e f e r e n c e t o t h e
s e a so n o f th e y e a r.

A l t h o u g h c o n t a i n i n g v a r i o u s d e t a i l s o f a u t u m n a l a p p e a r a n c e s , p r o d u c e , & c ., a n d

o f t h e d i v e r s if i e d l a b o r s o f h a r v e s t , i t is o c c u p ie d m a i n l y w i t h t h e g e n e r a l r e s u l t s o f t h a t r e m a r k a b l e
s y s te m w h i c h p e r v a d e s a n i m a t e d n a t u r e , a n d o f w h i c h t h e p h e n o m e n a o f t h e r e v o l v i n g y e a r c o n s ti ­
tu te o n e o f th e m o st p ro m in e n t f e a tu re s .
a s t h a t a d o p te d i n t h e p r e v i o u s v o l u m e s .

T h e p l a n , h o w e v e r , a n d d i v is io n o f t h e w o r k , i s t h e s a m e
I t is a w o r k , o n t h e w h o l e , t h a t w e c a n r e c o m m e n d t o a l l

w h o s e e k f o r a i d i n lo o k in g “ t h r o u g h N a t u r e u p to N a t u r e ’s G o d .”
22. — R e l ig i o n , N a t u r a l a n d R e v e a l e d ; o r , th e N a t u r a l T h e o lo g y a n d M o r a l B e a r i n g s o f P h r e n o lo g y
a n d P h y s io l o g y : i n c l u d i n g th e D o c t r i n e s T a u g h t , a n d D u t i e s I n c u l c a te d th e r e b y , C o m p a r e d w i th
th o s e E n j o in e d i n th e S c r ip t u r e s . T o g e th e r w i t h th e P h r e n o lo g ic a l E x p o s i t i o n o f th e D o c t r i n e o f a
F u t u r e S t a te , M a t e r i a l i s m , H o l i n e s s , S i n , R e w a r d s , P u n i s h m e n t s , D e p r a v i t y , a C h a n g e o f H e a r t ,
W i l l , F o r e o r d in a tio n , F a t a li s m , e tc . B y O . S . F o w l e r , P r a c t i c a l P h r e n o l o g i s t , e t c . , e t c . N e w Y o r k :
F o w le r & W e lls .
W e h a v e r e a d t h i s t r e a t i s e w i t h m o re t h a n o r d i n a r y i n t e r e s t , a n d w i t h o u t e x p r e s s in g , w h a t w o u l d
h e r e b e o u t o f p l a c e , a n y o p i n io n o f t h e t h e o l o g i c a l o r r e lig io u s s e n t i m e n t s i t i n c u l c a t e s , w e m a y b e
p e r m i t t e d to e x p r e s s o u r c o n v ic t io n o f t h e h o n e s t y a n d s i n c e r i t y o f t h e a u t h o r , w h o g i v e s u t t e r a n c e
to h is v ie w s w ith a n e lo q u e n c e a n d e a rn e s tn e s s , t h a t riv e ts th e a tte n tio n o f t h e r e a d e r i f i t d o es n o t
a lw a y s s e c u r e th e a s s e n t o f h is u n d e rs ta n d in g .

T h e c h a rg e m a d e a g a in s t p h re n o lo g y , t h a t it te n d s

t o m a t e r i a l i s m , is a b ly m e t w i t h a n a r r a y o f a r g u m e n t s t h a t m u s t c o n v in c e a l l , a t l e a s t , t h a t i t h a s n o t
h a d t h a t e ff e c t o n t h e m i n d o f t h e a u t h o r .
o f ty p o g ra p h ic a l e rr o r s .
2 3 . — D o lo r e s . A N o v e l .

B y H a r r o H a r r in g .

T h i s is c a lle d a S o u th A m e ric a n n o v e l.
u n d e rta k e to ju d g e .

W e r e g r e t t o s a y t h a t t h e w o r k i s b a d l y p r in t e d , a n d f u l l
N e w Y o r k : M a rre n n e r, L o c k w o o d & C o.

I n h o w f a r it m a y d e s e r v e th e title , w e w ill n o t a t p r e s e n t

W e s h o u l d r a t h e r b e i n c l i n e d t o c a l l i t a l e a f f r o m t h e s o c ia l , r e lig io u s , a n d

p o l it ic a l h i s t o r y o f m a n k i n d .

I t is t r u e t h a t m o s t o f t h e s c e n e s a r e l a i d i n S o u t h A m e r i c a — m a n y o f

t h e c h a r a c t e r s a r e S o u t h A m e r i c a n s , c iv i l iz e d s l a v e s o f R o s a s —e n t h u s i a s t s o f l i b e r t y a n d h u m a n i t y
o p p o s in g t h e f irs t, a n d P a t a g o n i a n c h i l d r e n o f n a t u r e i n n a t u r a l a n d c h i l d - l i k e p u r i t y ; b u t t h e s o c ia l
a n d p o l it ic a l i n s t i t u t i o n s o f E u r o p e , a n d t h e w h o l e c iv i l iz e d w o r l d , a r e a l s o b i t t e r l y a t t a c k e d i n t h i s
w o rk .

T h e p r in c i p le s o f u l t r a - r e p u b l i c a n i s m , a d v o c a t e d b y t h e c h i e f s o f a l l t h e y o u n g r e p u b l i c a n

a s s o c i a t i o n s i n E u r o p e — t h o s e p r in c i p le s w h i c h c a u s e d t h e a u t h o r ’s e x i l e f r o m m a n y c o u n tr i e s , a n d
t h e i n t e r d i c t i o n o f h i s w o r k s , a r e m o s t a b ly d e f e n d e d .

T h e p o litic s , r e l i g io n , s o c ia l c u s to m s a n d h a b i t s

o f a l l E u r o p e a n d A m e r i c a , a r e m o r e o r l e s s i n t r o d u c e d , a n d a b l y d is c u s s e d i n t h e s e p a g e s .

H ere a n d

t h e r e w e f in d t r a n s c e n d e n t a l i s m , h e r e a n d t h e r e s o p h is t r y , s a r c a s t i c b i t t e r n e s s a g a i n s t i n d iv i d u a l
g o v e r n m e n ts a n d n a t i o n s ; b u t , u p o n t h e w h o l e , w e m u s t c o n f e s s t h a t t h e w o r k a b o u n d s i n h i g h a n d
p u r e m o r a l s e n t i m e n t s ; t h a t i t b e a r s t h e im p r e s s o f a firm a n d n o b l e d e v o te d n e s s to t h e p r i n c i p l e s i t
a d v o c a t e s , a n d d i s p l a y s t h e b r i l l i a n t t a l e n t s , a n d s c h o l a s t i c a c q u i r e m e n t s o f t h e a u t h o r , i n a f a v o r a b le
lig h t.

I t is, b e y o n d d o u b t, o n e o f t h e m o s t r e m a r k a b l e a n d b o l d w o r k s o f t h e a g e ; a n d a l l s h o u ld

r e a d i t a t t e n t i v e l y t o t h e e n d , b e f o r e p r o n o u n c i n g j u d g m e n t u p o n it.
2 4 .— T h e E c lo g u e s a n d G e o r g ie s o f V i r g i l .
W ith E n g l is h N o te s , C r itic a l a n d E x p la n a to r y , a n d a
M e t r ic a l I n d e x . B y C h a r l e s A n th o n , L L . D ., P r o fe s s o r o f t h e G r e e k a n d L a t i n L a n g u a g e s , i n
C o l u m b i a C o lle g e , N e w Y o r k , e t c . N e w Y o r k : H a r p e r & B r o t h e r s .
D r . A n t h o n i n f o r m s u s , t h a t h e h a s p u r s u e d t h e s a m e p l a n i n p r e p a r in g t h e p r e s e n t w o r k , r e c e n t l y
f o ll o w e d i n t h e c a s e o f t h e i E n e i d , w h i c h m e t w i t h t h e a p p r o b a t io n o f s o m a n y i n s t r u c t o r s .

The

e m i n e n t s u c c e s s o f t h e l e a r n e d e d it o r , i n f o r m e r la b o r s i n t h i s d e p a r t m e n t o f e l e m e n t a r y l i t e r a t u r e ,
h a s b e e n s u c h , a s t o r e n d e r a n y r e m a r k f ro m s o u n c la s s i c a l a s o u r c e a s t h e M e r c h a n t s ’ M a g a z i n e e n ­
tir e ly u n n e c e s s a r y .




The Book Trade.

432

2 5 . — H i s t o r i c a l C o lle c tio n s o f L o u i s i a n a , e m b r a c in g m a n y R a r e a n d V a lu a b le D o c u m e n ts r e l a t i n g to
th e N a t u r a l , C i v i l , a n d P o l it ic a l H i s t o r y o f th a t S ta te . C o m p ile d , w i t h H i s to r i c a l a n d B i o g r a p h i c a l
N o te s a n d a n I n t r o d u c t i o n , by B . F. F r e n c h , H o n o r a r y M e m b e r o f t h e H i s to r i c a l S o c i e t y o f P e n n ­
s y lv a n ia , e tc . N e w Y o r k : W ile y & P u tn a m .
W e h a v e , i n t h i s h a n d s o m e l y p r in t e d o c ta v o v o l u m e o f t w o h u n d r e d a n d t w e n t y p a g e s , a n u m b e r
o f i m p o r t a n t h i s t o r i c a l d o c u m e n t s , e x te n d i n g f ro m 1678 to n e a r t h e c lo s e o f t h e s e v e n t e e n t h c e n t u r y .
T h e y r e l a t e t o t h a t e x te n s i v e t r a c t o f c o u n t r y f o r m e r l y k n o w n b y t h e n a m e o f L o u i s i a n a , b o u n d e d o n
t h e e a s t b y t h e R io P e r d id o , w e s t b y t h e R io d e l N o r t e , a n d s t r e t c h i n g f ro m t h e G u l f o f M e x ic o to
t h e P a c if ic O c e a n , a n d e m b r a c in g t h e l a t e d i s p u t e d c o u n t r y o f O r e g o n .
o f D e S a l le , S i e u r d e T o u t y , J o u t e l , a n d F a t h e r L o u i s H e n n e p i n .

A m o n g th e p a p e rs , a re th e s e

T h e v o lu m e is p r e fa c e d w ith a n

i n tr o d u c ti o n b y M r. F r e n c h , a n d a n i n t e r e s t i n g d i s c o u r s e d e li v e r e d b e f o r e t h e H i s to r i c a l S o c i e t y o f
L o u i s i a n a , i n 1836, b y H e n r y A . B u l la r d , E s q ., t h e P r e s i d e n t o f t h e S o c i e t y .

I t is f ro m t h e s e e a r l y

a n d o r ig i n a l r e c o r d s o f t h e fir s t c o lo n i z a ti o n o f o u r c o u n t r y , t h a t t h e m o s t i m p o r t a n t a n d a u t h e n t i c
I n f o r m a t io n m u s t b e g a t h e r e d .

T o t h e h i s t o r ic a l i n q u i r e r , t h i s v o l u m e w i l l b e a m o s t a c c e p t a b l e o f ­

f e r i n g ; a n d b y a l l i t m u s t b e v i e w e d a s a n e x c e e d i n g l y v a l u a b l e c o n tr i b u ti o n t o t h e h i s t o r i c a l l i t e r a ­
tu re o f A m e ric a .
26.

— I t a l y , S p a in , a n d P o r t u g a l , w i t h a n E x c u r s i o n to th e M o n a s t e r ie s o f A l c o b a c a a n d B a t a lh a . B y
N e w Y o r k : W i l e y &. P u t n a m ’s L i b r a r y o f C h o i c e
R e a d in g .
T h e a u t h o r o f t h e s e l e t t e r s , d e s c r i p ti v e o f s c e n e s i n I t a l y , S p a i n , a n d P o r tu g a l , s a y s t h e y w e r e

W il l ia m B k c k fo r d , a u t h o r o f “ V a t h e k . ”

w r i t t e n m a n y y e a r s a g o , t h e e a r l i e s t b e in g d a t e d 1780, a n d t h e l a t e s t , 1795.

T h e a u th o r , a n E n g lis h

g e n t l e m a n o f g r e a t w e a l t h , i t w i l l b e r e c o l l e c t e d d i e d a y e a r o r t w o s in c e .

T h e y w e re “ w r itte n in

t h e b lo o m a n d h e y d a y o f y o u t h f u l s p ir i ts a n d y o u t h f u l c o n f i d e n c e , a t a p e r i o d w h e n t h e o ld o r d e r
o f t h i n g s e x is t e d , w i t h a l l i t s p i c t u r e s q u e p o m p s a n d a b s u r d i t i e s ; w h e n V e n i c e e n jo y e d h e r p i o m b i
a n d s u b m a r in e d u n g e o n s ; F r a n c e , h e r B a s t il e ; th e P e n in s u la , h e r h o ly in q u is itio n .”

S u c h is t h e

a u t h o r ’s a c c o u n t , a n d w e m a y a d d , t h a t t h e y a r e a m o n g t h e f e w b o o k s o f t r a v e l , w h i c h , i f f o r n o
o t h e r m e rit th a n t h e i r lite ra r y , a r e w o r th y o f a p la c e in th e a d m ir a b le s e rie s o f “ b o o k s w h ic h a r e
b o o k s .”

T h e h i g h l y c u l t i v a t e d , a l m o s t f a s t id i o u s , t a s t e o f t h e a u t h o r , m a r k s a l m o s t e v e r y p a g e a n d

p a ra g ra p h .
2 7 . — A n E l e m e n t a r y R e a d e r , G e r m a n a n d E n g l i s h ; B a s e d u p o n th e A f f i n i t y o f th e L a n g u a g e s .
A c c o m p a n y “ O l l e n d o r f f 's M e th o d .” B y I g n a ce S t e i n e r . N e w Y o r k : W i l e y &. P u t n a m .

To

T h e E n g l i s h s t u d e n t s o f t h e G e r m a n l a n g u a g e , a r e b e c o m in g e v e r y d a y m o r e n u m e r o u s ; a n d w e
a r e n o t s u rp r is e d a t th is w h e n w e ta k e in to a c c o u n t th e d e p th a n d r ic h n e s s o f t h e lite r a tu r e o f t h a t
r e m a r k a b l e p e o p le .
d e riv e d

T h e f a c t t h a t t h e G e r m a n a n d E n g l i s h l a n g u a g e s , a r e i n a g r e a t e r o r le s s d e g r e e

f r o m t h e A n g l o - S a x o n , a n d t h a t t h e r e a r e i n t h e E n g l i s h l a n g u a g e s o m e f if te e n t h o u s a n d

w o r d s w h i c h h a v e t h e i r r a d i c a l r e p r e s e n t a t i v e s i n t h e G e r m a n , e s t a b l i s h e s a c lo s e a n d i n t i m a t e c o n ­
n e c tio n b e tw e e n th e tw o .

T h e d e s ig n o f t h i s v o l u m e is to t a k e a d v a n t a g e o f t h i s a ff in ity , a n d i t is

a c c o r d i n g ly c o m p r i s e d m a i n l y o f t h o s e G e r m a n w o r d s , w h i c h h a v e t h e i r r e p r e s e n t a t i v e s i n E n g l i s h ,
w i t h a n i n t e r l i n e a r t r a n s la t io n , i n w h i c h t h e E n g l i s h is m a d e to c o n f o r m to t h e i d io m o f t h e G e r m a n .
T o t h i s is a d d e d a c o r r e c t e d t r a n s l a t i o n i n t o f r e e a n d i d io m a ti c E n g l i s h .

T h e s t u d e n t h a s t h u s b e fo r e

h i m t h e u s a g e s o f t h e t w o l a n g u a g e s , a n d i s a b l e to s e e w h e r e i n t h e y a r e a l i k e , a n d w h e r e i n t h e y
d iff e r.
2 8 . — T h e S t a te s m e n o f th e C o m m o n w e a lth o f E n g l a n d ; w i t h a T r e a t i s e o n th e P o p u l a r P r o g r e s s i n
E n g l i s h H i s t o r y . B y J o hn F o r s t e r , o f t h e I n n e r T e m p l e . E d i t e d by J ohn O . C h o u l e s . 8 vo .
N e w Y o r k : H a r p e r &. B r o th e r s .
T h e m e n a n d m e a s u r e s o f t h a t p e r i o d w h i c h c o n s t i t u t e d t h e t r a n s i t i v e s t a t e o f E n g l a n d , f ro m t h e
o p p re s s iv e re ig n s o f th e T u d o r s a n d th e S tu a rts to th e c o n s titu tio n a l lib e rty w h ic h it a fte rw a rd e n ­
jo y e d , a r e e m b r a c e d in th e s e in te re s tin g v o lu m e s .

T h e g r e a t m e r i t o f F o r s t e r ’s L i v e s o f t h e S t a t e s ­

m e n o f t h e C o m m o n w e a l t h i s , s a y s D r . C h o u l e s , t h a t h e h a s a ff o r d e d a l i f e - l i k e s k e t c h o f c h a r a c t e r s
t h a t w i l l c o n t i n u e t o a p p e a r m o r e e x t r a o r d i n a r y t o t h o s e w h o , b y m a r c h o f tim e , a r e r e m o v e d f a r t h e r
f r o m t h e e r a i n w h i c h t h e y a p p e a r e d o n t h e s ta g e o f a c t i o n .

M r. C h o u l e s h a s c a r e f u l l y r e v i s e d t h e

w o r k , a d d in g a f e w n o t e s , b u t m a k i n g n o a l t e r a t i o n i n t h e t e x t o f t h e a u t h o r .

W e s h a ll re fe r to th e

p u b l i c a t i o n o n it s c o m p l e ti o n .
2 9 . — A F i r s t B o o k i n L a t i n : c o n ta i n i n g G r a m m a r E x e r c i s e s a n d V o c a b u la r ie s , o n th e M e th o d o f C o n s t a r t I m i ta t io n a n d R e p e titio n . B y J o h n M c C l in t o c k , A . M ., P r o f e s s o r o f L a n g u a g e s , a n d G e o r g e
R. C r o o k s , A . M ., A d j u n c t P r o f e s s o r o f L a n g u a g e s i n D i c k in s o n C o l le g e . N e w Y o r k : H a r p e r &
B ro th e rs .
T h i s b o o k c o n ta i n s w i t h i n i ts e lf , g r a m m a r , e x e r c i s e s , re a d i n g - b o o k , a n d d i c t i o n a r y ; i n s h o r t , a l l t h a t
t h e p u p il w i l l n e e d b e fo r e c o m m e n c in g t h e r e g u l a r r e a d i n g o f C e s a r , o r a n y o t h e r L a t i n a u t h o r .

“ O l­

l e n d o r f f ’s ” p o p u l a r m e t h o d i n t h e s t u d y o f t h e G e r m a n l a n g u a g e , s e e m s t o h a v e b e e n f o l l o w e d i n t h e
p r e p a r a tio n o f th is w o rk .