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THE

M E R C H A N T S’ MAGAZINE,
E s ta b lis h e d J u l y , 1 8 3 9 ,

BY FREEMAN HUNT, EDITOR AND PROPRIETOR,
VO LU M E XIX.

OCTOBER,

1848.

N U M BER IV.

C O N T E N T S O F NO. IV., VOL. XIX.
A R T IC L E S.
ART.

PAG*

I. THE HISTORY AND PRINCIPLES OF ANCIENT COMMERCE.—L kcture III.—TH E
COMMERCE OF TYRE AND CARTHAGE. Origin of Navigation-Rise of Tyre and
Carthage—Maritime Power—Influence of Navigation on Commerce—Advantages of an In­
sular Situation—Ships of the Ancients—Long Voyages—Carrying Trade—Manufactures—
Weaving—Dyeing—Pottery—Tanning — Working of Metals—Colonies—Colonial Trade—
Rate of Wages—Emigration—Accumulation of Capital—Credit—Banking—Bottomry—Part­
nerships—Joint Stock Companies—Commercial Character of the Carthaginians. By J a m e s
W i l l i a m G i l b a r t , F. R. S., General Manager of the London and Westminster Bank........355
II. COMMERCIAL CITIES OF EUROPE.—No. VIII.—GENOA: AND ITS COMMERCE.
By G. F. S k c c h i d e C a s a l i , late of Italy, notv of New York.................................................. 375
i l l . COMMERCIAL CITIES AND TOW NS OF- THE UNITED STATES.—No. X II.—OUR
CITIES—ATLANTIC AND INTERIOR. By J. W . S cott , Esq., of Ohio. 1................... 383
IV. TH E LA W OF DEBTOR AND CREDITOR IN TENNESSEE. By H e n r y G r a t t a n
S m it h , Esq., of the Memphis (TennJ Bar................................................................................... 386
V. COMMERCE: AND THE PREJUDICES AGAINST IT. By Hon. B e n j a m in F. P o r t e r ,
of Georgia.......................................................................................................................................... 392
VI. MERCANTILE BIOGRAPHY.—A SKETCH OF THE LIFE OF THE HON. ASA
CLAPP............................................................................................................................................. 396
VII. GRACE ONDRAFTS AT SIGHT.By D a v id R. J a q it e s ,Esq., of the New York B ar.. .. 399
VIII. TH E DRAINING OF THE EVERGLADES OF FLORIDA.................................................... 401

MERCANTILE

LAW

CASES.

Points in Mercantile Law, from 2 Barbour’s Chancery Reports................................................................. 403
Custom of Merchants at New York—Trade Marks................................................................................... 403
A Docket of Judgments—Partnership—Bills of Exchange—Limitation of Mercantile Accounts.......... 404

COMMERCI AL CHR ON I C LE AND REVI EW,
EMBRACING A FINANCIAL AND COMMERCIAL REVIEW OF TH E UNITED STA TES, E T C ., ILLUSTRATED
W ITH TA BLES, ETC., AS FOLLOWS l

Influence of events in Europe on Commerce—Import of Breadstuff* into Great Britain—Prices of
Grain in England from 1845 to 1848—Leading features of the Bank of England—Discounts of the
Bank of England four last years—Stagnant stete of Trade—Effects o i Specie—Influence of W ar
on Commerce—State of Trade in the United States—Receipts of Produce at New Orleans—Prices
o f Produce at New Orleans—Foreign Exports of New Orleans—Condition of the South-Western
Banks, etc., etc...................................................... .............................................................................. 405-411

COMMERCIAL REGULATIONS.
Treaty of Commerce and Navigation between the United States of America and the Kingdom of
Hanover..................................................................................................... ....................................... 411-415
Act to provide for the Incorporation and Regulation of Telegraph Companies........................................ 415
New Duties on Spirits in England.......................................................................... ..................................... 416
VOL. X IX .---- N O. IV .
23




354

C O N T E N T S O F N O . I V . , V O L . X IX .
PAOZ

COMMERCIAL STATISTICS.
Cotton Crop of the United States for the years 1847-48............................................................................ 417
Export of Cotton to Foreign Ports from September 1,18-17, to August 31, 1848...................................... 417
Growth of Cotton in the United States in each year from 1828 to 1848................................................... 417
Consumption of Cotton and Stocks............ ................................................................................................. 418
Cotton consumed and in the hands of Manufacturers in each year from 1828 to 1843 ............................ 418
Receipts, Exports, Value, and Stocks of Cotton at New Orleans, in Monthly periods, for 1847-48....... 419
Exports and Value of Tobacco, Whiskey, and Lead at New Orleans, 1847-48...................................... 419
Exports and Value of Sugar, Molasses, Flour, and Corn at New Orleans for 1847-48............................ 420
Exports of Pork, Bacon, Lard, and Beef at New Orleans, 1847-48.......................................................... 420
Value of Exports from New Orleans for 1847-48.......................................... ........................................... 420
Trade of England with her North American Colonies.............................................................................. 421
Exports of British produce to the North American Colonies from 1840 to 1847....................................... 421
Imports from British North American Colonies into the United Kingdom from 1840 to 1847................. 422
Exports from Canada by Sea for the years 1838 to 1847......................
422
Exports of Timber from Canada by Sea in 1845 to 1847........................................................................... 423
Export of Breadstuff's from Ports of the United States to Great Britain and Ireland, 1847-48............... 423
St. Catharine Docks, London........................................................................................................................ 423
Exports to the United States and Europe from Manilla for the years 1838 to 1847................................. 424
Exports o f Tea from China to Greal Britain............................................................................................... 424
Price of W heat in Former Days from 1043 to 1557............. -..................................................................... 425
Import of Cotton Wool into England and Scotland in the years 1835 to 1848....................................... 425
Statistics of Ship-building on the Western W aters.................................................................................... 426

NAUTICAL INTELLIGENCE.
Vessels wrecked on the Florida Coast and Reef.......................................................................... . . ...........427
Navigation and Marine Implements—Ship and Boat Building—Propellers.............................................. 428
Lights to Lead into Harwich Harbor—Newly Discovered Reef in the China Sea................................... 429
Discoveries and Determinations of the United States Coast Survey.................. ...................................... 430
The Voyages of Merchant Vessels between England and the United States to Honolulu...................... 430
New Light house at Calais.—Floating Lights in \he Prince’s Channel.................................................... 431
Deal Island, Kent’s Group—New Light at Fort Focardo, Isle of Elba..................................................... 431
Shoals in the China Sea.....................................»......................................................................................... 432

RAI LROAD, CANAL, AND S T E A M B O A T S T A T I S T I C S .
English Railroad Statistics from 1842 to 1 8 47..........................................................................................
Rates of Tolls upon the Illinois and Michigan Canal................................................................................
Progress of the New York and Erie Railroad.............................................................................................
Petersburgh (Virginia) Railroad—Freight Rales, Receipts, Expenditures, etc...................................... .
Indiana, Wabash, and Erie Railroad..........................................................................................................
Low Railroad Fare........................................................................................................................................

432
434
436
436
437
438

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 .
Coins and Currency of Brazil—Value of Gold and Silver Coins.............................................................. 438
Aiken’s Interest and Discount Tables.......................................................................................................... 440
Banks, Currency, and Finances of Ohio...............................................................................................1... 441
The State Finances of Pennsylvania........................................................................................................ . 443
Sales of the Public Lands in the United States in 1848............................................................................ 444
A Short Chapter on the Usury Laws—American Continental Money.......................................................445

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 .
New Method of Puddling or Refining Iron or other Metals by Gas-fire................................................... 447
Vegetable Soap of Mexico............................................................................................................................ 449
Copake or Ancram Iron Works—Copper Mining on Lake Superior...................................... ..................450
Model Clothing Establishment—Oak Hall Rotunda.—Method of Silvering Glass—Brushes from Quills 451
Blackstone Coal Mines—Iron Mines in Texas.—Cheapness of Railroad Iron—Pens made fzom Bone.. 452
Mines of Cinnabar in Upper California—Factory Girls—Boot Crimps—Revolving Heels to B oots...... 453

MERCANTILE MISCELLANIES.
Morals in Trade........................................................................................................... ................................. 454
Short Measure and Deception in Fabrics.—Culture of Tea in the United States.................................... 455
Business Enterprise and Perseverance—Model Book Publishing House—American Bonnets.................. 456

THE BOOK TRADE.
Comprehensive Notices of New Works, or New Editions..... ................................... .................... .. 457-464




HUNT’S

MERCHANTS’ MAGAZINE
AND

COMMERCIAL REVIEW.
OCTOBER, 1848.

Art. I.— THE HISTORY AND PRINCIPLES OP ANCIENT COMERGE.
LECTURE III.

T H E COMMERCE OF T Y R E AND CARTHAGE.
ORIGIN OF NAVlbATION— RISK OF TYRE AND CARTHAGE— MARITIME POWER— INFLUENCE OF NAVIGATION
ON COMMERCE—ADVANTAGES OF AN INSULAR SITUATION— SHIPS OF THE ANCIENTS— LONG VOYAGE8—
CARRYING TRADE— MANUFACTURES— WEAVING— DYEING— POTTERY— TANNING—WORKING OF METALS
— COLONIES — COLONIAL TRADE — RATE OF WAGES— EMIGRATION— ACCUMULATION OF C A P IT A L CRED IT— BANKING— BOTTOMRY— PARTNERSHIPS— JOINT STOCK COMPANIES— COMMERCIAL CHARACTER
OF TH E CARTHAGINIANS.

I n my first Lecture I laid down some of the elementary principles o f
commercial science. W e stated that the commerce of a country depend­
ed on its productions—on its consumption—on its position—on its means
of communication—on the state of its arts and sciences—on the nature
of its laws, and on the genius and character of the people. W e endeav­
ored to illustrate these propositions by facts taken from the history of An­
cient Egypt. In my last Lecture we traced the progress of society from
an uncivilized to a commercial state ; we viewed the establishment of the
right of private property—the administration of justice—the founding of
cities—the appointment of markets and fairs— and the introduction of
money and bankers. These principles we endeavored to illustrate by
facts taken from the history of Ancient Greece. We now view society
arrived at a state of maturity. Property is respected—the laws are en­
forced—the arts and sciences are cultivated—the necessaries of life are
acquired—a taste for luxury has arisen—and the people are looking about
in quest of the means to enrich themselves with those productions which
their own soil and climate cannot supply.
If we wish to trace the means by which these desires are gratified, how
can we do better than to investigate the history of Tyre and of Carthage ?
The country called Phoenicia was situated on the coast of the Mediter­
ranean Sea, to the north-west of Canaan, and to the soulh-west of Syria.
The territory was but small, and, like most other ancient countries, was




356

The History and Principles o f Ancient Commerce :

at first subdivided into several independent states. The two largest cities
were Tyre and Sidon. Old Tyre was situated on the land, and withstood
a siege for thirteen years by Nebuchadnezzar. Ultimately it was taken ;
but the Tyrians having the command of the sea, removed themselves,
their families, and their property, before Nebuchadnezzar could take pos­
session of the place. The Tyrians afterwards returned, and built New
Tyre, which was at a little distance from the land, and was founded on a
rock about three miles in circumference. * This new city was besieged by
Alexander the Great, and taken, with great slaughter, after a siege of
seven months. Tyre is thus described in the Holy Scriptures :—“ A joy­
ous city, whose antiquity is of ancient days, whose merchants are princes,
whose traffickers are the honorable of the earth.”—“ Tyrus did build her­
self a stronghold, and heaped up silver as the dust, and fine gold as the
mire of the street. When the waves went forth out of the seas, thou
filledst many people; thou didst enrich the kings of the earth with the
multitude of thy riches and of thy merchandise.” Tyre carried on a con­
siderable traffic with the adjacent country of Judea. Solomon, king of
Israel, made a treaty with Hiram, king of Tyre, by virtue of which the
Tyrians hewed timber in the forests of Lebanon, and brought it down in
fleets to Joppa, from whence it was carried to Jerusalem, to construct the
Templej and other public buildings, and in return Solomon supplied Hiram
annually with wheat and barley, and wine and oil, all of which Judea
produced in abundance. Afterwards, when Solomon fitted out a fleet at
Eziongeber to go to Tarshish, Hiram furnished him with sailors, as the
Tyrians understood maritime affairs much better than the Israelites. In
a subsequent period, after the division of the ten tribes, Ahab, the king
of Israel, married Jezebel, the daughter of Ethbaal, king of Sidon, and
introduced the worship of Baal, the god of the Sidonians; and afterwards
the worship of the same idol was introduced by her daughter, Athaliah,
into the kingdom of Judah. At a still later period in the Jewish history,
we find the Tyrians brought fish, and all manner of wares to Jerusalem,
and were threatened with punishment by Nehemiah for exposing them for
sale on the Sabbath day.
The Tyrians were remarkable for their knowledge of navigation, their
skill in manufactures, and the extent of their commerce. The most am­
ple account we have of the commerce of ancient Tyre is contained in the
27th chapter of the Prophecy of Ezekiel. In the prosecution of their com­
merce they found it useful to establish colonies for conducting their trade
with those countries in which the colonists were settled. They are said
to have planted above forty colonies on different parts of the coast of the
Mediterranean Sea. In point of government these colonies, like those
of Greece, were independent of the mother country, and had the entire
management of their own affairs. Among these colonies, the most cele­
brated is Carthage.
Carthage stood on the coast of Africa, at about half way from Phoeni­
cia to the Straits of Cadiz. It was situated on a peninsula, about fortyfive miles in circumference, which joined the main continent by a neck
of land about three miles across. The city, in the zenith of its greatness,
was about twenty-three miles in circumference, and contained a population
of about 700,000 people. At this time it held dominion over all the coasts
of Africa, a territory above 1,400 miles in length, and containing three
hundred cities; it also possessed the greater part of Spain and Sicily, and




The Commerce o f Tyre and Carthage.

357

all the islands in the Mediterranean Sea to the Strait of Sicily. This
extensive empire was not acquired so much by conquest as by commerce
and colonization. The government, like "that of most ancient States, was
republican ; but what is remarkable, and what distinguishes it from other
ancient republics is, that during the whole six hundred years of its exist­
ence, there was no instance of a civil war. Ancient writers attribute
this to the excellency of the Carthaginian political constitution, but it was
probably owing to the j^ood sense and commercial habits of the people.
The Carthaginians excelled in the arts and sciences, but all the monu­
ments of their greatness were destroyed by the Romans. We have no
account of the Carthaginians except from Greek and Roman writers, the
latter of whom were their enemies and destroyers. Had we as minute
an account of the rise and progress of Carthage, as we have of Greece
and of Rome, it would probably form the most useful branch of ancient
history.
The following account is given of their trade:—“ The commodities
they supplied other nations with in great abundance seem to have been
corn, and fruits of all kinds, divers sorts of provisions, and high sauces,
wax, honey, oil, the skins of wild beasts, &c., all the natural produce of
their own territories. Their staple manufactures were utensils, toys, ca­
bles, made of the shrub Spartum, a kind of broom, all kinds of naval stores,
and the color from them called Punic, the preparation of which seems to
have been peculiar to them. From Egypt they fetched fine flax, paper,
<&c.; from the coasts of the Red Sea, spices, frankincense, perfumes, gold,
pearls, and precious stones. From Syria and Phoenicia, purple, scarlet,
with stuff tapestry, costly furniture; and from the western part's of the
world, in return for the commodities carried thither, they brought back
iron, tin, lead, copper, &c. So famous was Carthage for its artificers,
that any singular invention or exquisite piece of workmanship, seems to
have been called Punic even by the Romans. Thus the Punic beds or
couches, the Punic windows, the Punic wine-presses, the Punic lanterns,
were esteemed the more neat and elegant by that people.”
The history of Carthage, even imperfect as it is, seems adapted to teach
us those means by which nations arrive at an extensive commerce. These
means will form the topics of the present Lecture. I observe, then—
First. Commerce is extended by means of maritime power.
Secondly. Commerce is extended by means of the establishment of
manufactures.
Thirdly. Commerce is extended by the planting of colonies.
Fourthly. Commerce is extended by the accumulation of capital.
These will form the four heads of my Lecture. I will begin with the
first:—
I. Commerce is extended by means of maritime power.
In warm climates the necessity of cleanliness is so great, that bathing
in water was in almost all countries enjoined as a religious duty. From
bathing in water, and from seeing other animals, man would soon acquire
the art of swimming. At the same time he would occasionally see
branches of trees broken down by the wind, carried along the current,
and this would suggest to him the idea of making a canoe or boat by cut­
ting out a hollow in the trunk of a tree. Hence we find that the art of
navigation commenced in warm countries. When the art of construct­
ing boats was once discovered, fresh improvements would necessarily be




358

The History and Principles o f Ancient Commerce:

introduced as mankind improved in the arts and sciences, and as they bad
occasion to make longer voyages. From the construction of vessels adapt­
ed only to carry themselves, mankind would proceed to the construction
of vessels adapted to carry cargoes of commodities. Hence navigation
would be employed as a means of trade. It would soon be found that
very heavy bodies could be floated down a river in less time and at a less
expense than it could be conveyed by land ; trade would extend, and ship­
building and navigation would improve. Those families of mankind who
resided on the sea-coasts would become habituated to a maritime life, and
the sea would be regarded as a source of wealth and power.
Navigation has a great influence on commerce. Commerce consists
in an exchange of the superabundant productions of different countries.
But two countries situated near to each other, having the same climate
and the same soil, will produce nearly the same kind of commodities,
and but little commerce may take place between them ; while countries
situated at a distance from each other, and in different climates, will pro­
duce very different commodities, and here is the foundation of an extend­
ed commerce. But commerce cannot very well be carried on between
two distant countries by land. There would be great delay, and great
expense, and great liability to interruption or robbery from the inhabitants
of the lands through which you pass. All these inconveniences are ob­
viated by means of a sea voyage. The transportation of goods is effect­
ed with less expense, in less time, and is less liable to interruption. In
consequence of these facilities, the goods imported or exported can be sold
at a cheaper rate. This tends to increase the demand for them, and com­
merce is thus more widely extended.
In most cases, an island presents greater advantages for commerce than
a country situated on a continent. In proportion to its size, an island
has a larger extent of sea-coast than any continental country can have.
The climate is usually milder and more even, so that the operations of
commerce are not disturbed by the seasons. The sea is a natural fortifi­
cation, so that there is less danger of an invasion from a foreign enemy,
and a less proportion of the population are required to be enlisted in the
army. And, as all commerce with other nations is necessarily carried on
by sea, the inhabitants naturally acquire maritime habits; ship-building
and navigation are more generally studied, and the people have more
skill and courage in maritime warfare. In ancient history, the islands of
Crete, Rhodes, and Cyprus were celebrated for their commerce.
Islands have also the advantage of being able to carry on the trade be­
tween the several provinces by sea. What in other countries is an in­
land trade, and is conducted by means of roads and canals, is, in islands,
a coasting trade. An interchange of commodities between the different
parts of the country is effected, by means of shipping, in less time and at
a less expense.
The vessels of the ancients were different from those of modem times.
The Grecian seas were land-locked, filled with small islands, and subject
to violent storms and frequent calms ; hence sails were not generally used.
Their ships were rowed by oars, and in sailing, the mariners kept near
to the coasts. Ships of war were called long ships—those of burden
were called round ships. The ships of the Phoenicians being adapted for
commerce, were broader and deeper than those intended for war. In the
time of Homer, hempen cordage seems to have been unknown ; leathern




The Commerce o f Tyre and Carthage.

359

thongs were used instead; and the ships had only one mast, and that a
moveable one. The greatest number of men on board any one ship was
one hundred and twenty. Navigation was in its infancy ; but the princi­
pal constellations had been observed, and by means of these the Greeks
had navigated as far as Cyprus, Phoenicia, and Egypt.
Ships had usually several banks of oars rising one above another, in
the manner of stairs. On going on board a ship, you would first step on
the side. This was the first bank of oars. Here the rowers had short
oars. The next step was higher, and farther from the sea. This was
the second bank of oars. Here the rowers had longer oars. The next
step was the third bank of oars. Here the rowers had still longer oars,
and, consequently, the work was harder, and the men had higher pay.
Some of the ancient ships had two rudders on each side—afterwards they
had a rudder at each end ; but at length they had a rudder only in the
stern, and the prow or bow of the ship became ornamented with a figure­
head. The ships of war were not adapted for carrying any cargo ; the
chief object was swiftness in rowing. The men could never sleep, nor
even conveniently eat on board. In their naval expeditions they kept
close to the shore, and landed to take their meals, as stage-coaches stop
for the passengers to take their dinner. When about to engage, they
took down their sail, and depended entirely on their oars, as they could
then advance or retreat, according to circumstances. The ships of war
being long and narrow, and crowded with men, could not bear up against
a high w ind; but the ships of burden, or the round ships, as they were
called, were adapted for the w ind; they were worked by fewer hands,
and fit for long voyages. The principal vessels used at first, were tri­
remes, or ships with three banks of o a rs; but the Phoenicians or the
Carthaginians constructed vessels of four and even five banks of oars;
vessels built for stateliness and show had sometimes a greater number.
Ships of war had, usually, a beak of wood covered with brass placed on
their prows, for the purpose of annoying the ships of the enemy.
The ships of Tyre are thus described by the Prophet E zekiel:—“ They
have made all thy ship boards of fir-trees of Senir; they have taken ce­
dars from Lebanon to make masts for thee. Of the oaks of Bashan have
they made thine oars. The company of the Ashurites have made thy
benches of ivory, brought out of the isles of Chittim. Fine linen, with
broidered work from Egypt, was that which thou spreadest forth to be thy
sail—blue and purple from the isles of Elishah was that which covered
thee. The inhabitants of Zidon and Arpad were thy mariners—thy wise
men, O Tyre, that were in thee, were thy pilots.”
The Greeks confined their navigation entirely to their own seas. Even
Sicily was, for many ages, the land of fable and monsters with which
they were utterly unacquainted. But the Phoenicians extended their voy­
ages throughout the whole of the M editerranean; they passed through
the Straits of Gibraltar, and visited the coasts of Britain. These voya­
ges required ships of a larger size, and also a superior knowledge of nav­
igation. It seemed, however, that whenever they could they kept near to
the shore. You are aware that in the Mediterranean Sea there are no
tides, but a current is always running into the German Ocean. On pass­
ing into the ocean, a different kind of navigation might become necessary.
A trade that will pay the expense of a long voyage must be a profitable
one, as there must be a greater outlay of capital in the equipment, and a




360

The History and Principles o f Ancient Commerce:

longer period before it can be realized. In trading with the uncivilized
nations of Britain, the Phoenicians appear to have exchanged commodi­
ties of but comparatively little value, for those which to them were of
considerable worth. They brought to England salt, and earthenware,
and trinkets made of b rass; and took tin, hides, and wool. The trade
was so valuable that the Carthaginians kept it to themselves. A Roman
ship followed a Carthaginian ship to discover the place to which she sail­
ed. The Carthaginian captain designedly ran his ship aground, the Ro­
man ship followed, and ran aground also. The Carthaginian captain
threw out his cargo, and got his ship off. The Senate of Carthage com­
mended his conduct and made good his loss.
The Carthaginians not only traded directly with the places they visited,
but they also conducted the trade between those places, buying at one
place and selling at the others. This is usually called the carrying trade.
Countries may have commodities sufficient to form the basis of an exten­
sive commerce, and yet may not have sufficient capital to export them.
Thus, the American Indians could furnish abundance of fur, hut had no
ships; and if there be two nations in this state, it is a great advantage to
both if any third nation will undertake to carry their respective exports
for the consumption of th8 other. The Dutch had for a considerable time
the carrying trade of Europe. Even now, the Americans will bring tea
from China and sell it in France. The bonding system of England re­
sembles a carrying trade, for goods may be brought from one country,
placed in bond for awhile, and then exported, without duty, to another
country. The Carthaginians possessed this kind of trade. They might
take from England tin, which they might exchange in Egypt for linen
cloth ; they might take corn from Egypt to Spain, and take gold from
Spain to Egypt. As they did not carry for hire, but were dealers in all
these commodities, they acquired a profit on all the trade carried on with
these respective nations, and they obtained all these advantages by means
of their maritime power.
II.
I observe, that commerce is extended by the establishment of man­
ufactures.
A commodity is said to be manufactured when it has undergone some
change in consequence of the application of human labor. The material
of the manufacture is called raw material. Thus cloth is a manufacture,
and wool is the raw material. Flour is called a manufacture, the corn
being raw material. So, in Waterford, we often hear bacon called the
manufactured article, pigs, of course, being the raw material.
Some manufactures, however, are made from materials previously man­
ufactured. Thus, we speak of a glove manufacture, the manufacture of
shoes and of nails, although the materials, leather and iron, had previously
been manufactured.
The word manufacture signifies made with the hand, a term not now
exactly appropriate, as most of our manufactures are made in a great de­
gree by machinery. A Manufacturer is a person who makes articles in
great quantities, and sells them wholesale. A Maker makes only a few
articles, and sells them immediately to the consumers.
All countries have some kind of manufacture for the use of its inhab­
itants. But, by a manufacturing country, we generally mean a country
that manufactures goods not merely for its own consumption, but also for
exportation to other nations. A nation which can thus increase its sur­




The Commerce o f Tyre and Carthage.

361

plus productions, will, of course, increase its exports. By this means, too,
it will also increase its imports, because it will be able to purchase a
larger quantity of the productions of other nations. All nations that have
become manufacturing nations, have become commercial nations; and
have, consequently, become wealthy.
Manufacturing nations rise to wealth from the additional value which
they give to the raw materials, For there is an immense difference be­
tween the value of the raw materials and the value of the same materials
in a manufactured state. Thus, for instance, it has been stated that a
pound of cotton wool, when spun, has been worth five pounds sterling ;
and when wove into muslin, and ornamented in the tambour, is worth fif­
teen pounds, yielding £5,900 per cent on the raw material. An ounce
of fine Flanders thread has been sold in London for four pounds. Such
an ounce made into lace may be sold for forty pounds, which is ten times
the price of standard gold, weight for weight. Steel may be made three
hundred times dearer than standard gold, weight for weight. Six steel
wire springs for watch pendulums weigh one grain, to the artist seven
shillings and sixpence each, equal to two pounds five shillings. One
grain of gold costs only two pence. So a service of cut glass, or of fine
porcelain, will cost many hundred times the value of the raw materials of
which it is composed. Mr. Babbage also states—that the pendulum spring
of a watch, which governs the vibration of the balance, costs at the retail
price, two pence, and weighs y/j- of a grain, while the retail price of a
pound of the best iron, the raw material-out of which 50,000 such springs
are made, is exactly the same sum of two pence. A quantity of lead that
cost one pound, when manufactured into small printing type, will sell for
twenty-eight pounds. A quantity of bar iron that cost one pound, when
made into needles will sell for seventy pounds ; into the finest kind of
scissors it will sell for £ 4 4 6 ; as gun barrels it will sell for £238 ; as
blades of penknives, £657 ; as sword handles, polished steel, £972. He
likewise states that four men, four women, and two children are able to
make above 5,500 pins in less than eight hours.
Now you are not to suppose that the manufacturers of these articles
get higher profits than other manufacturers do. Their high prices arise
from the immense quantity of labor which is expended upon them. And
this is the reason why manufacturing nations get wealthy, because they
give employment to the whole population. Men, women, and children,
all are employed, and every day, and all day long, and part of the night,
too, without any interruption from the weather, or the change of season.
The effect on national wealth may be thus illustrated. If I had an estate
so fertile, that for every bushel of seed I should have a crop of 600 bush- els, I should soon get rich. But, if for the price of a bushel of wheat I
can buy a quantity of raw material, and by the labor I bestow upon it, I
can sell it for the price of 600 bushels, it is the same thing to me as though I
had an estate which yielded a crop of 600-fold. In manufactures, too,
you can introduce a greater quantity of machinery. As all the additional
value bestowed upon the raw material is derived from labor, men have
racked their minds to make the most of labor, to increase its power by
subdivision, and to invent machines by which the rivers, the winds, the
air, and steam are compelled to do the work of men. Similar machinery
has in some cases been introduced into agriculture, but it cannot be adopt­
ed to the same extent. Agriculture labors under this disadvantage, that




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whatever machinery we apply, all we can do is to increase the crop, and
to cheapen some of the operations; we cannot quicken the process, at
least, not to any extent. We may by machinery weave a piece of cotton
or silk, or make a pair of razors in half the time heretofore employed, but
we cannot make a field produce .a crop of wheat, barley, or potatoes in
half the usual time. Seed time and harvest will go on, and the operations of nature will not be stimulated, to any great extent, by any ma­
chinery we can apply.
When a manufacturer is established in any country, it is usually in con­
sequence of that country possessing either an abundance of the raw ma­
terial, or a facility for manufacturing it. Thus, an iron manufacture will
scarcely ever be established, except in a country that produces iron stone,
and even that will not be sufficient, unless it also produce coal or wood.
Ores cannot be smelted without fire ; all the copper ore in the county of
Cornwall is taken to Swansea to be smelted, for Cornwall produces no
coal. So copper ore is brought from South America to Liverpool to be
smelted, because there is no coal in that part of America.
But, where there are great facilities for the manufacture, manufactories
may be established in countries which do not produce the raw material.
England produces no cotton, and yet has an immense cotton manufacture.
But the moving power in all our cotton manufactories is steam ; steam is
made by fire ; and fire by co al; hence the coal mines of England are the
cause of her having the manufacture of cotton.
When a country has, from its physical advantages, or from the ingenu­
ity of its people, acquired the art of manufacturing any articles cheaper
and better than other nations, then those other nations will, in most cases,
find it their interest to apply their own labor and capital to those pursuits
in which they have an advantage, and so purchase the manufactured
commodities rather than manufacture for themselves. Hence manufac­
tures promote commerce.
The manufactures in which Tyre and Carthage excelled, were w ear­
ing, dyeing, pottery, tanning, and the working of metals.
One of the most ancient arts is that of weaving. Although mankind
at first clothed themselves with the skins of beasts, they soon learned the
art of spinning wool and weaving it into cloth. Among all ancient na­
tions this was performed by the female members of the family.
Both in^profane and sacred'history, weaving is referred to and recorded
as the emploj ment of ladies of the most illustrious rank. In the last
chapter of Proverbs, where we have an enumeration of the qualities of a
good wife, she is said to take wool and flax and work willingly with her
hands, “ and she not only supplied her own household, but also delivered
girdles unto the merchant.” In the middle ages, a similar practice ex­
isted, and even to this day, the legal title of an unmarried lady is a “ spin­
ster.”
Although the Egyptians were celebrated for the manufacture of linen,
and the Phoenicians for the manufacture of woollen, it is not likely that
either of them had any manufactories in the sense in which we use the
term. We know very well that the north of Ireland has for many years
been remarkable for the manufacture of linen, and yet it is only very re­
cently that manufactories have been erected at Belfast, where an attempt
has been made to apply the machinery used in the manufacture of cotton
to the manufacture of linen. The linen is spun at home by women, and




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363

wove at home generally by men. It is then brought to market in small
quantities and purchased by the bleachers, who prepare it for the market.*
In a similar mariner, probably, was the linen and woollen manufacture
carried on in ancient times. When Moses wanted coverings for the Tab­
ernacle, which he erected immediately after the Israelites came out of
Egypt, he did not order them of a manufacturer, but “ all the women that
were wise-hearted did spin with their hands, and brought that which they
had spun, both of blue, and of purple, and of scarlet, and of fine linen.”
In ancient times the common people wore both their garments, the tu­
nic and the mantle, of the natural color of the wool, without any kind of
dyeing ; but the more wealthy had their garments dyed of various colors.
The most esteemed was the purple, hence the Roman emperors always
wore purple, and a purple robe became the emblem of royalty. When
soliciting the votes of their fellow citizens, the Romans wore a white
garm ent; the Latin word for white is candidus, hence they were called
candidates. T h e’word candidate literally means a man in a white cloak.
The Tyrians at a very early age became renowned for the beauty of
their dyes, and they retained this character for a considerable period. In
fact, secrets in dyeing are more easily kept than secrets in most other
trades. Dyes usually require an intermediate substance called a “ mor­
dant.” This word means a biter. This substance bites the cloth and
bites the dye, and so keeps them both together. If you dye a piece of
cloth with any color without using a mordant, the color will come out on
the first washing. The great secret of dyeing is to find out what partic­
ular mordant is adapted to each particular dye : for different mordants
will produce different colors, even with the same dye. If you dip a piece
of cloth in a solution of alum, which is a very common mordant, and then
dye’ it with cochineal, it will produce a beautiful scarlet; but if you dip
it in oxide of iron, and then dye it with cochineal, it will be a perfect
black. Sometimes a color will be produced different from that of either
the mordant or the dye. If you boil a piece of cloth in a blue mordant,
and then dip it in a yellow dye, the color produced will not be either blue
or yellow, but a perfect green. What kind of substances the Phoenicians
used to produce their colors is not known. Their most beautiful purple
is supposed to have been obtained from some part of a fish, then found in
the Mediterranean S e a ; but the mode of its preparation is now unknown.
The ancients highly esteem the art of dyeing. Jacob gave to his fa­
vorite son Joseph a coat of many colors. The tabernacle, made by the
Israelites in the wilderness, had curtains of fine twined linen, and blue,
and purple, and scarlet. The mother of Sisera anticipated the return of
her son arrayed in a garment of divers colors—of divers colors of needle­
work on both sides, meet for the necks of them that take the spoil. The
veil of Solomon’s temple was made of blue, and purple, and crimson, and
fine linen. Kings wore a purple robe. “ Mordecai went out from the
presence of the king in royal apparel of blue and white, and with a great
crown of gold, and with a garment of fine linen and purple.” The Pro­
phet Ezekiel, in addressing Tyre, said, “ blue and purple was that which
covered thee.” And, in the New Testament, a certain rich man is de­
* See an account of the linen manufacture in the north of Ireland, in the Evidence
given before the Parliamentary Committee of 1826, to inquire into the abolition of small
notes in Ireland and Scotland.




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scribed as one who was clothed in purple and fine linen, and fared sump­
tuously every day.
Earthenware is mentioned as one of the articles imported by the Car­
thaginians into England. This art appears to have been known at a very
early period in the history of the world. Potter’s vessels are mentioned
in the Jewish history, and the Hebrew poets often refer to them as an
emblem of fragility. “ Thou shall dash them in pieces like a potter’s
vessel.” The Prophet Jeremiah describes the process of this manufac­
ture, and it appears that “ earthen pitchers ” were but little esteemed. In
our own time, we are aware to what a degree of elegance and perfection
the manufacture of earthenware may be carried, and in this art the Phoe­
nicians are said to have eminently excelled.
As soon as mankind had learned to use the skins of beasts, they Would
acquire some knowledge of the art of tanning. At a very early period,
we read of leather. Before the discovery of hempen cordage, thongs of
leather were used for ropes ; and leather was also employed in the making,
of bottles. Hence we read that “ no man putteth new wine into old bot­
tles—the bottles will b u rst; but new wine must be put into new bottles,
and both are preserved.” Our first parents were clothed with skins, and,
as this occurred before the permission to eat animal food, it is presumed
that these were the skins of animals which had been offered in sacrifice.
The Carthaginians appear to have had a' perfect knowledge of the
working of metals. They employed above 40,000 men in the mines of
Spain, from which they obtained gold, silver, copper, and tin ; afterwards
they obtained tin in greater abundance from the mines of Cornwall.
They regularly visited England, taking thence tin, skins, and wool, and
leaving in exchange salt, earthenware, and utensils made of brass. It isa singular circumstance, that although the county of Cornwall contains
eopper in as great quantities as tin, yet this appears to have been quite
unknown at the time of the Carthaginians. The English actually import­
ed all the brass instruments they used. The people were probably unac­
quainted with the mode of smelting copper, especially as the county of
Cornwall produces neither coals nor wood. The extraction of copper from
the ore is a much more severe process than the extraction of tin ; and
copper again is extracted with less difficulty than iron. The Tyrians are
said by Ezekiel to have obtained from Tarshish, silver, iron, tin, and lead.
They obtained iron also from Dan and Jovan. Some of the arts for which
the Phoenicians were remarkable, are enumerated in the letter addressed
by Solomon to Hiram, king of Tyre. “ Send me now therefore a man
cunning to work in gold and in silver, and in brass and in iron, and in
purple and crimson and blue ; and that can skill to grave with the cun­
ning men that are with me in Judah and Jerusalem, whom David, my
father, did provide. Send me also cedar trees, fir trees, and algum trees
out of Lebanon, for I know that thy servants have skill to cut timber in
Lebanon.”
III. Commerce is extended by the planting of colonies.
Commerce is considerably promoted by a wise system of colonization.
If we are in the habit of importing any articles of commerce from a dis­
tant country, it is evident our trade is liable to many interruptions. Po­
litical differences may arise with its government, or for some other reason
it may give a preference to other nations. Our rivals may have exemp­
tions from customs, or other privileges which are not granted to us, and




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365

hence we may be unable to obtain its productions at so cheap a rate as
before. On the other hand, if we have been in the habit of supplying
this country with the productions of our own, we may be supplanted by
others, who may send similar articles to the same market, and who may
be favored with peculiar privileges. But if this distant country be one of
our colonies, neither of these effects can occur. Its productions cannot
then be taken from us by exclusive privileges being granted to foreigners,
nor can we be deprived of this market for the produce of our home in­
dustry. It may be desirable to possess colonies, even when the articles
produced are of the same kind as those which are produced in the mother
country. As population increases, the price of raw materials increases ;
the quantity of land taken into tillage diminishes that which remains for
pasture, and this occasions a rise in the price of cattle, and, consequently,
of leather, of hides, of horns, of tallow, and of other materials. As, too,
the community, to supply itself with food, takes additional quantities of
land into tillage, it is compelled to cultivate poorer soils ; and, from fhe
increased expense of cultivation, an advance will take place in the price
of provisions. Hence, it follows, that in a thickly populous nation, the
inhabitants of which are fed by the products of their own soil, provisions
must be at a high price. To a country thus thickly populated, where all
the most fertile lands are in a state of cultivation, and where the people
are engaged in manufactures, it must be a great advantage to find a coun­
try possessing immense tracts of fertile land, on which food may be raised
at a comparatively trifling expense, and which can easily be made to pro­
duce raw materials for the support of the manufacturers of the mother
country. In this newly discovered country colonies may be established.
The colonists would select the most fertile spots for tillage—the pasturage
for their cattle would cost them nothing—they would have no rent to pay,
and would be exempted from those taxes which necessarily exist in all
old-established countries. With these advantages, it is evident that the
colony could produce corn and other raw materials, which, after paying
the expenses qf freight, might be sold at a much lower price than that at
which they could be produced by the mother country. Hence it would
be for the advantage of the parent state to draw its raw produce from the
colonies, and supply them with manufactured goods.
The Greeks established colonies for the purpose of getting rid of a
superabundant population, and their colonies soon became independent.
The Roman colonies were established partly for the same purpose, and
partly for the purpose of acting as garrisons, and thus keeping possession
of the countries they had conquered. The Tyrians and Carthaginians
established colonies for the purpose of extending their trade. The Ty­
rians are said to have planted forty colonies in different parts of the Medi­
terranean, and the Carthaginians periodically sent out a number of their
citizens in new places where they thought an advantageous trade might
be opened. These small colonists were probably at first little more than
factors and agents. In this way the English at first colonized some parts
of North America. They traded to America for fur, but the Indians did
not think of getting the fur until the ships had arrived. Hence the im­
porters appointed persons to remain in the country during the winter and
collect fur against the return of the season. The Indians brought the fur
to these settlements. The number of settlers increased. The animals
from whose skins the furs w'ere obtained soon diminished in number. It




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was necessary for the Indians to proceed further inland. A fresh settle­
ment of colonists was made further up the country. The first settlement
became a city, and was surrounded by a variety of smaller settlements ;
and thus, in course of time, the whole territory between these different
settlements became subject to the mother country.
Colonial, like all other trade, must consist of imports and exports. The
imports from colonies consist of those commodities which either cannot
be produced in the mother country, or which cannot be produced in suffi­
cient quantity. The Carthaginians imported gold and silver from Spain ;
tin from England; iron, silk, fur, and other articles which were not found
in Carthage. But the mother country also imported those things which
she produced, but not in sufficient quantity. These were chiefly corn,
wool, fur, timber, and the various metals. These are called raw produce.
They are the materials of manufacture ; and they can almost always be
produced at a cheaper rate in a colony than in an old country.
While the imports from the colony will consist of raw produce, the ex­
ports to the colony will consist of manufactured goods ; for though newly
peopled countries have the advantage in raising raw produce, yet old
countries have the advantage in manufactures. There the people are
collected into cities ; the division of labor is more complete ; machinery
is more perfect, and the processes are better understood. The mother
country has then a double advantage from the colony. She has an ad­
vantage in obtaining raw products at a cheaper rate than she otherwise
could obtain them, and she has an advantage of obtaining a certain mar­
ket for her own manufactured produce. Again, the colony has a double
advantage from the mother country. The colony has the advantage of a
market for her raw produce in the mother country, and also the advantage
of obtaining from the mother country manufactured goods cheaper and
better than they could be made in the colony. The trade, therefore, be­
tween mother country and colony is of the same kind as that which is
carried on between town and country—it is an exchange of produce be­
tween the farmer and the artizan. The colony sends her produce to the
mother country as a farmer brings with him the produce of his fields to
the market-town, and takes back those articles which are supplied by the
work-shops of the town.
The rate of wages is regulated by the proportion that may exist be­
tween the demand for labor and the supply. In all old and thickly peo­
pled countries, the supply of labor usually exceeds the demand, and hence
wages are lo w ; in new colonies the demand exceeds the supply, and
wages are high. Colonists always settle in uninhabited, or in thinly peo­
pled countries. The very circumstance of being thinly peopled renders
the supply of labor scanty, while the demand for laborers to cultivate the
earth, in order to send the produce to the mother country, is great. L a­
borers are disposed to emigrate from a country where wages are low and
provisions are dear, to one where wages are high and provisions are
cheap. Land being abundant, is cheap ; persons can become proprietors
at a small purchase. People of small capital, who can barely provide
themselves at home with those comforts which are considered essential
to their class in society, are induced to emigrate to a colony where the
necessaries of life may be obtained in abundance, and where there is a
prospect of acquiring wealth with the improved condition of the colony.
At Carthage, the colonists were sent out by the state; and, in all




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S67

cases, it seems desirable that the government of the mother country
should superintend the establishment of the colony. The resources of
the new country should be explored— the places fixed upon where towns
and cities are to be built— and roads, and other means of communication,
accurately marked out. Such arrangements ought not to be left to indi­
vidual caprice. It may materially retard the development of the resources
of a colony if the towns are badly situated, or if the roads are badly ar­
ranged.
It is a mistake to suppose, that in planting a colony you ought to send
out the poorest, the most ignorant, and the most destitute of the popula­
tion. If you send out people who have been accustomed to live on buttermilk and potatoes, and to reside in the same apartments as the swine,
they will labor only till they have acquired the same necessaries to which
they have been accustomed at home ; but if you send out people who are
in comfortable circumstances— men who have been accustomed to have a
kitchen and a parlor, neatly furnished—to have two or three suits of
clothes, and to see their wives and their children dressed smart on a Sun­
day,—these men will not only improve the colony more rapidly by their
superior knowledge, and by the little capital they may take with them, but
they will also retain a taste for those comforts to which they have been
accustomed ; and, as these comforts cannot be manufactured so cheaply
in the colony, they will be obtained from the mother country. The best
colonists, therefore, are those who are poor enough to be willing to work
hard, and rich enough to have a taste for the comforts of life. The de­
sire of obtaining these comforts will induce them to extend the cultivation
of the colony, and the supplying of these comforts will promote the man­
ufactures of the mother country, and thus create additional employment
for the population at home. In these various respects we find that the es­
tablishment of colonies is a means of extending commerce.
IV. Commerce is extended by the accumulation of capital.
A merchant’s capital is the property he employs in carrying on his
business. In proportion to the amount of his capital is the extent of the
business in which he can engage. What applies to one individual, ap­
plies to many. A country where capital abounds can carry on a more
extensive trade than a country which has but little capital. Capital is
increased by industry and frugality. A merchant must first make a profit,
and then apply a portion of that profit as a means of lurther production.
The profit thus employed as capital again yields a profit, which is again
applied as capital. Thus, capital results out of savings from profits, and
the profits upon those savings. Capital is employed in the purchase of
raw materials, in the erection of machinery, in the payment of wages.
The more raw materials a manufacturer can purchase, the more machines
he can erect, the more men he can employ, the more extensive is the
business in which he can engage. The capital of a country consists in
the amount of raw produce, either in the mines, the fisheries, or corn, or
cattle, in the manufactures, or machines for fabricating these into useful
commodities, in the numbers of its ships, in its stock of money or goods
for the payment of w ages; in proportion to the amount of these is the
extent of its exports, and in proportion to the extent of its exports is its
ability to purchase imports.
An accumulation of capital enables an exporting country to give long
credit. This is one means by which the English merchants are said to




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have kept possession of the foreign market. The merchants of other coun­
tries being comparatively poor, are obliged to sell for ready money, or,
at least, at short credit. Whereas, the English merchant, from his great
capital, can give extensive credit. The length of his credit is of less im­
portance to him, provided he knows that his capital will ultimately be re­
turned with a proportionate profit. Hence, the foreign importer of Eng­
lish goods may be able to sell the goods and get the money, before he is
called upon to pay the English manufacturer; and, consequently, he is
able to carry on a more extensive trade. So, if a manufacturer sells to
a shopkeeper upon credit, the shopkeeper may sell at least some of the
goods, and receive the money, by the time he has to pay the manufacturer.
Thus, the shopkeeper is able to keep a larger stock of goods, and to trans­
act more business, than though he were to pay ready money for all his
purchases. The extent of credit in any country is no proof of want of
capital. On the contrary, it may be a proof of the abundance of capital.
It is the abundance of capital which enables a merchant to give credit,
and the person to whom credit is given has usually some capital, also,
which enables him to extend his credit. W hen we observe, by way of
reproach, that such a person trades upon credit, we mean that he is ac­
customed to take longer credit than is usual in his trade, or that he takes
credit where it is usual to pay ready money, or that he raises money by
accommodation bills, or other fictitious means.
In all countries where capital has accumulated, there is a class of men
who become dealers in capital. They are not themselves engaged in
trade, but they furnish merchants and traders with such temporary sup­
plies of capital as they may occasionally or periodically require. These
men are styled bankers. It is their business to economize the national
capital,—to increase the rapidity of its circulation—and thus to render it
more productive. In a district where there is no banker, a merchant or
trader must always keep by him a sum of money adequate to meet any
sudden demand. But when a bank is established, he need not retain this
sum. He may trade to the full amount of his capital, and if he should
have occasion for a temporary loan, he may obtain it, by way of discount,
from the bank. Thus the productive capital of this country is increased.
The banker is a depository of capital. He is like the fly-wheel of an en­
gine, he either receives or communicates power, as the occasion may re­
quire, and thus maintains the firmness, and increases the efficiency of the
machinery of commerce.
Bankers are not merely lenders of capital; they are dealers in capital.
They borrow of those who wish to lend ; they lend to those who wish to
borrow. The borrowing of capital is effected by the system of deposits.
Not merely merchants and traders, but persons out of trade, noblemen,
gentlemen, farmers, and others, have usually in their possession small sums
of money, which they keep by them to meet their occasional expenses.
W hen a bank is established in their neighborhood, they lodge these sums
of money upon interest with the bankers. Individually, they may be of
small amount, but, collectively, they make a considerable sum, which the
banker employs in granting facilities to those who are engaged in trade
and commerce. Thus, these little rivulets of capital are united, and form
a powerful stream, which propels the wheels of manufactures, and sets in
motion the machinery of industry.
Bankers also employ their own credit as capital. They issue notes,




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369

promising to pay the bearer a certain sum on demand. As long as the
public are willing to take these notes as gold, they produce, to a certain
extent, the same effects. The banker, who first makes advances to the
agriculturist, the manufacturer, or the merchant, in his own notes, stimu­
lates as much the productive powers of the country, and provides employ­
ment for as many laborers, as if, by means of the philosopher’s stone, he
had created an amount of gold equal to the amount of notes permanently
maintained in circulation. It is this feature of our banking system that
has been most frequently assailed. It has been called a system of ficti­
tious credit— a raising the wind—a system of bubbles. Call it what you
please, we will not quarrel about names ; but, by whatever name you call
it, it is a powerful instrument of production. If it be a fictitious system,
its effects are not fictitious ; for it leads to the feeding, the clothing, and
the employment of a numerous population. If it be a raising of the wind,
it is the wind of commerce, that bears to distant markets the produce of
our soil, and wafts to our shores the productions of every climate. If it
be a system of bubbles, they are bubbles which, like those of steam, move
the mighty engines that promote a nation’s greatness, and a nation’s
wealth.
Thus, a banker in three ways increases the productive powers of cap­
ital. First, he economizes the capital already in a state of employment.
Secondly, by the system of deposits, he gives employment to capital that
was previously unproductive. Thirdly, by the issue of his own notes, he
virtually creates capital by the substitution of credit.
The means which a banker possesses of granting facilities to trade and
commerce, will be in proportion to the amount of these three sources of
capital. If his own capital amounts to £100,000, and the deposits in his
hands amount to £100,000, and his notes in circulation amount to £100,000,
he has then at his command the sum of £300,000, with which he may
discount bills for his customers. But if the public say to him, “ we will
take your notes no longer, give us gold,” he will issue gold, but he must
then reduce his discounts from £300,000 to £200,000. If the depositors
also demanded the return of their deposits, he must reduce his discounts
from £200,000 to £100,000. His capital will then be reduced to the
original sum of £100,000—the sum raised by deposits being again ren­
dered unproductive in the hands of the owners, and that raised by the cir
culation of notes being altogether annihilated.
Banking promotes the prosperity of a country, chiefly by increasing the
amount and efficiency of its capital. In the history of commerce, we find
no principle more firmly established than this: that as the capital of a
country is increased, agriculture, manufactures, commerce, and industry
will flourish ; and when capital is diminished, these will decline. The
man who attempts to annihilate any portion of the capital of the country
in which he dwells, is as forgetful of his own advantage as the miller who
should endeavor to dry up the mountain-stream which turns the wheels of
his machinery, or the farmer who should desire to intercept the sun and
the showers which fertilize his fields.*
The Phoenicians are said to have been the first inventors of coin, though
* At the time this Lecture was delivered (March, 1833,) there was a run: for gold upon
all the banks in the south of Ireland. The above paragraphs were then inserted in the
Waterford papers, and now form a part of my “ History of Banking in Ireland.”
VOL. X IX .---- NO. IV .




24

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some writers have attributed this honor to the Lydians. We have already
stated an opinion, that the “ money current with the merchants,” in the
time of Abraham, consisted of bars, or pieces of silver, bearing some
stamp or mark denoting the quality and the weight, and that this mark or
stamp was placed on them by Phoenician merchants. It was no great
transition to cut these bars into smaller pieces, and to place on them a
stamp denoting their value, and the country by which they were issued.
The issue of such coins would soon fall into the hands of the government,
who would fix the value at which they should pass current.
There are both silver and copper coins of Tyre now extant in the British
Museum. They bear the head or figure of their god Melkart, or Hercu­
les, the same denoted in Scripture by the name of Baal, and supposed to
represent the Sun. Some of the Phoenician coins bear the figure of the
fish which supplied the celebrated purple. It is said that at Carthage
leather money was issued by the state, and passed current. It would be
interesting, and might be instructive to know under what circumstances
this money was issued—by what rules the amount was regulated—and
whether, in its properties and effects, it bore any resemblance to the paper
money of modern times.
W hen capital has accumulated in any country, it gives rise to the trade
or business of money-lending. Other persons, besides bankers, who have
money, make profit, not by going-into trade themselves, but by lending it
to those who are in trade. The Carthaginians are said to have intro­
duced one branch of this business—that of lending money on bottomry ;
that is, upon the security of shipping. A person who had a ship, and
wanted money to purchase a cargo, might borrow from one of these mo­
ney-lenders, upon the security of the bottom of the ship; when the ship
returned the money was repaid. The lender had no interest in the cargo ;
but the ship was pledged to him whether the adventure were successful or
not. This kind of business is carried on in the present day. A ship
may be mortgaged like an estate, and the sum advanced is entered on the
registry.
Capital is rendered more productive by the formation of partnerships.
It would often be very convenient if a merchant could be in two places
at the same time. But this cannot be done. If, however, there are two
or three partners in a firm, these partners may be in distant places, and
thus the interests of the whole may be properly attended to. By dividing
their business into distinct branches, and each partner superintending a
branch, the business may flourish as much as if the establishment belonged
to one individual, who had the convenient attribute of ubiquity. One
partner may superintend the town department—the other, the country;
one the manufacturing—the other, the selling branch; one the books—
the other, the warehouse ; and by this division of labor, each branch of
the business will have the advantage of being constantly under the super­
intendence of a principal of the firm. Another advantage is, that by mu­
tual discussion upon their affairs, the concern will be conducted with more
discretion. The ignorance of one may be supplied by the knowledge of
the other; the speculative disposition of one may be restrained by the
phlegmatic disposition of the other; the carelessness of one may be coun­
teracted by the prudence of the other.
But the great advantage arising from partnerships is, that capital accu­
mulates faster; there can be a greater division of labor in a large estab­




The Commerce o f Tyre and Carthage.

371

lishment; there will be a less proportionate expense; the firm will be
able to gain a greater amount of credit; and more confidence will be
placed in their honor and integrity. It is very rare that a dishonest fail­
ure is made by a firm.
A Joint Stock Company is a partnership with many partners. The
partners being so numerous, the management is necessarily entrusted to a
few of them, who are styled directors. Such companies are very useful,
and even necessary, in those operations which require a larger amount
of capital than can be raised by an individual capitalist:—such as the
peopling of a new colony, the supplying of a town with water or gas ; or
which are so speculative that no individual would like to take the whole
risk on himself, such as m ining; or which, to be carried on successfully,
require a large share of public confidence, such as fire and life insurance,
and banking. In these cases, and, perhaps, in a few others, joint stock
companies cannot be supplanted by individual competition. But, in the
production or sale of articles destined for general consumption, no public
company can stand a contest against individual enterprise. The price at
which any article can be sold must be regulated by the cost of production.
Experience proves that commodities cannot be produced by a company at
so iow a cost as they can be produced by individuals; hence the individ­
ual will always be able to undersell the company.
Thus, then, we are taught, by the history of Tyre and Carthage, that
commerce is extended by the means of maritime power—the establish­
ment of manufactures—the planting of colonies—and the accumulation of
capital. We shall now consider the commercial character of the Car­
thaginians.
1. The Carthaginians were remarkable for a love of justice. It was
a maxim with them, that if any citizen was injured, the community were
bound to see it redressed.
I believe it will be found to accord with historical truth, that the more
nations are commercial, the more honest they are in their dealings. H alf
civilized nations, who have no idea of commerce, are proverbial for their
dissimulation, treachery, and fraud. But when the individuals of any
country have dealings with each other in trade, they necessarily acquire
correct ideas of the principles of equity and the rights of property ; and
the public voice condemns false balances and deceitful weights, false re­
presentations and exorbitant prices. The public voice proclaims that you
violate justice when you give to your laborers less wages than their due;
when you take advantage of the inexperience or inadvertence of your
customers ; when your goods are of inferior quality, or when you do not
abide by your agreement. You also violate justice when you engage in
speculations, the profits of which, if successful, will belong to yourself;
but the iosses, if unsuccessful, will fall dpon your creditors. You violate
justice when you provide comforts for your family, or use hospitality to­
wards your friends, or bestow charity on the poor at other people’s expense.
A virtue that cannot be exercised, Jut by a violation of justice, is no long­
er a virtue.
It is a great mistake to su p p o se that rogues are generally clever men.
It is very easy for any man who is supposed to be honest, to perpetrate
one act of successful villany, by abusing the confidence placed in him;
but as soon as his character is known, he is successful no longer, and the '
cleverness he has manifested is found to resemble that of the man who




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The History and Principles o f Ancient Commerce:

ripped up the goose which laid the golden eggs. His honesty would have
supported him for life ; but one act of villany has reduced him forever to
poverty and infamy. Hence, you will find that rogues are generally poor.
The number of rogues who are even successful is very few as compared
with the number of honest m en; and success in one instance prevents
success in every subsequent enterprise. In the book of Proverbs—a book
which, apart from its sacred character, contains the best instructions for
obtaining success in life—the rogue is always styled a fool.
But if a man is a fool to expect to attain wealth by dishonest means, he
is a still greater fool if he expects that wealth so acquired will afford him
any enjoyment. Enjoyment did I say ? Is it possible that, in such a case,
any man can expect enjoyment ? W h a t! enjoyment for you—you who
have obtained wealth by falsehood— by deception—by extortion—by op­
pression—you expect enjoyment ? Listen—listen to the hearty denunci­
ations of all honest m en ; to the awful imprecations of those you have
injured ; to the reproaches of your family, whose name you have dishon­
ored ; to the accusations of that conscience whose voice you have stifled,
and to the wrathful thunder of that heaven whose laws you have outraged !
Listen to these—these are the enjoyments that will attend your ill-gotten
w ealth:—“ He that getteth riches, and not by right, shall leave them in
the midst of his days : and at his end shall be a fool.”
And here I would advise you to have no dealings with a man who is
known to be a rogue, even though he should offer a bargain that may, in
that instance, be for your advantage to accept. To avoid him is your duty,
on the ground of morality; but it is, moreover, your interest in a pecuni­
ary point of view : for, depend upon it, although he may let you get mo­
ney by him at first, he will contrive to cheat you in the end. An additional reason is, that your own reputation, and even your moral sensibilities,
may be endangered by the contact. If you get money by a rogue, there
is a danger that you will feel disposed to apologize for his rogueries ; and,
when you have once become an apologist for roguery, you will probably,
on the first temptation, become a rogue yourself.
2. The Carthaginians had a high regard for wealth.
The desire of wealth is either a virtue or a vice, according to the mo­
tives from which it proceeds. W hen a man desires wealth, to provide
against the contingencies of life and the infirmities of age—to settle his
family creditably in the world—to increase his power of serving his friends
or his country—to enable him to be more charitable to the poor—or, to
extend the influence of religion—his desire is a virtue, and he may rea­
sonably expect that, with piudence, honesty, and industry, his exertions
will ultimately be successful. It is much to be regretted, that the decla­
mations of some moralists, and the pictures of some poets, have counte­
nanced the sentiment, that wealfV is unfriendly to virtue or to happiness ;
that these are found only in a cottage ; and that, as wealth increases, men
depart from simplicity and rectitude. ’Tis perfectly true, that virtuous
poverty is always deserving of respect, and that wealth, associated with
vice, is always to be despised; but it is not correct that poverty, more
than wealth, is friendly to virtue. ’Tis not correct that the possession of
wealth, honestly acquired, has any tendeney either to enervate the intel­
lect, to corrupt the morals, or to impair the happiness of man. The fact
is the reverse. ’Tis poverty which is the source of crime— ’tis poverty
which is the great barrier to the acquisition of knowledge— ’tis poverty




The Commerce o f Tyre and Carthage.

373

which is the great source of human wo. If you wish to increase your
knowledge, increase your w ealth: you will then have more leisure to
study, and be better able to purchase the means of instruction. I f you
wish to increase your virtue, increase your wealth : you will then have a
higher character to support, and fewer and less powerful temptations to
act dishonorably and disreputably. If you wish to increase your happi­
ness, increase your wealth : you will then have more numerous sources
of pleasure, and, above all, you will be able to indulge in the luxury of
doing good. Away with the notion that wealth is an evil. If wealth be
an evil, industry is a vice ; for the tendency of industry is to produce
wealth. If wealth be an evil, commerce should be abandoned ; for the
object of commerce is to acquire wealth. If wealth be an evil, those ef­
forts which are made by benevolence or patriotism, to improve the condi­
tion of the poor, are deserving, not of support, but of execration. But
wealth is not an evil. However much the doctrine may have been coun­
tenanced by pseudo moralists or dreaming poets, it has never been gene­
rally acted upon, for it is one opposed to the common sense of mankind.
Both to individuals and to nations wealth is a blessing. It is only when
nations become wealthy that the population are well fed and well clothed,
and reside in roomy habitations well furnished. It is only when nations
become wealthy that the cities and towns have wide streets, well formed
for carriages and for foot passengers, and apparatus for conveying the water to every private habitation, and for supplying light in the streets at
night. It is only when nations become wealthy that famines are less fre­
quent, epidemic and contagious disorders less fatal, and institutions are
formed for relieving the distresses and promoting the education of the
poor. It is only when nations have become wealthy that men have leisure for study—that literature flourishes—that science is explored—that
mechanical inventions are discovered—and that the fine arts are patron­
ized and encouraged:—all these are the effects of wealth.
3.
The desire of wealth was associated with habits of prudence and
economy.
The only way by which capital can increase is by saving. If you
spend as much as you get you will never be richer than you are. ’Tis
not what a man gets, but what he saves, that constitutes his wealth. Go,
learn the first two rules of arithmetic—learn addition and subtraction.
Add to your present capital any amount you please—subtract the sum
which you add, and tell me if the last amount will not be the same as the
first. Every merchant should, in every year of his life, make some addi­
tion to his capital. You say you get but little: never mind; spend less
than that little, and then next year you will get more, for you will have
the profit upon the sum you save. There is no royal road to wealth any
more than to geometry. The man who goes on spending all he gets, and
expects that by some lucky hit he shall be raised to wealth, will most
likely sink into poverty,—for, in case of adverse fortune, he has then no
resource ; whereas, by economy, he may lay by a stock that may serve
as a provision in case, of adversity. You may say that the times are bad
—the seasons are bad—the laws are bad. Be it so ; but, were the case
reversed, it would make no difference to you. Look at home ; you spend
more than you g e t: how, then, can you be otherwise than poor ? How
many a respectable family have fallen from a high station, which they
worthily and honorably filled, merely because neither the gentleman nor




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The History and Principles o f Ancient Commerce:

the lady had been familiar with the first four rules of arithmetic. Had
they known how to check the accounts of their agents, their tradesmen,
and their servants ; had they known how to compare their receipts with
their expenditure, and to see which preponderates, all their difficulties
might have been avoided. A very small acquaintance with the principles
of commerce is sufficient to teach that, if a man spends every year more
than he receives, he will, necessarily, fall into poverty.
4. It is said that the Carthaginians allowed no man to hold office in
the state, unless he was more or less wealthy. It will be remembered
that Carthage was a republic, and had no hereditary aristocracy. Hence,
wealth formed the chief distinction. It might, therefore, be a good rule,
that those who had most influence in the state should possess the most po­
litical pow er: that, “ to have a stake in the hedge,” should be deemed a
necessary qualification for those who were to govern the state. When a
man of wealth accepts an office in the state, his individual property gives
additional respectability to his official station.
Rank, and talents, and eloquence, and learning, and moral worth, all
receive respect; but, unconnected with property, they have much less in­
fluence in commanding the services of other men. These may attract
admiration, but it is property that gives power. Detached from property,
their influence is as evanescent as the fragrance of flowers detached from
the soil. It may be true, the soil has little that claims our respect, but
still the virtues which the flowers extract from the soil give and maintain
their fragrance and their strength. Thus, the clod of wealth, though in
itself it adds nothing to individual character, yet, having its influences
purified and varied by the channels through which they pass, gives addi­
tional beauty and energy to both the public and the private virtues ; it im­
parts firmness to patriotism ; it gives a lovelier hue to benevolence, and a
more extensive charm to religion. The example of a man of property
has a wider influence, and, when exercised in the path of a patriot, a
philanthropist, and a Christian, is more likely to be followed.
One advantage of rendering wealth the road to honor may have been
that individuals would be more anxious to acquire wealth, and also that
those who had acquired honors would not suffer their own estate to fall
into decay, lest they should have again to abdicate their official stations.
It is a good maxim, and one likely to have been current in a commercial
state, that if a man does not take care of his own affairs, he is not likely
to attend well to those of other people. They “ who sit in high places ”
ought to be noble, and generous, and magnanimous; but no man ought
to be generous beyond his means. The man who has squandered his
property in gratifying a vain ostentation, falsely called hospitality, has
grasped at the shadow, but lost the substance. From this cause many who
are born rich, die poor. He who had thus squandered away his own
property, would not, at Carthage, have been entrusted with the treasures
of the state.
5. The Carthaginians looked upon commerce with respect.
No man will excel in his profession if he thinks himself above i t ; and
commerce will never flourish in any country where commerce is not re­
spected. Commerce flourished in England, because there a merchant was
respected, and was thought worthy of the highest honor his country could
bestow. Commerce never flourished in France, because there it was de­
spised ; and the character of un riche bourgeois, a rich citizen, was the




Commercial Cities o f Europe.

375

character which their dramatic writers were fond of introducing as the
subject of ridicule. Commerce will never flourish in a country where
young men, whose fathers are barely able to maintain a genteel appear­
ance, think it beneath their rank to enter a counting-house, and prefer
sustaining the character of cigar-smoking loungers. Commerce will
never flourish in a country where property acquired by industry is consid­
ered less deserving of respect than property acquired by inheritance.
Commerce will never flourish in a country where men in business, in­
stead of bringing up their sons to the same business, think it more respect­
able to send them to professions. Commerce will never flourish in a
country where men, as soon as they get a few thousand pounds by trade,
are anxious to get out of trade, and to mix with the society of the fashion­
able world. What is it that gives respectability? Is it knowledge?
What profession requires so much, and such varied knowledge, as that of
a merchant ? Is it utility to the state ? W hat order of men tend more
to increase the wealth and happiness of the state than that of merchants ?
Is it moral character ? To whom is moral character so essential as to a
merchant? Without this he is despised.
It is much to be regretted that people who have realized a little money
by trade should retire and take out their capital, and thus reduce the com­
mercial capital of the country. W hat reason can you assign for this ?
You say you are independent: go on, get wealthy. You say you are
w ealthy: go and get more wealth. The more wealth you get, the more
you serve your country, and the greater power you have of doing good to
others. You say you are getting old : take a young partner ; do you find
capital and knowledge, and let him find labor and activity. You say you
have toiled long enough ; you wish to retire and enjoy yourself. Retire­
ment will be no enjoyment to you: to a man of your active habits solitude
and idleness will have no charms. The most effectual means you can
adopt to make yourself wretched, and to shorten your days, will be to
place yourself in a situation where you will have nothing to do. But you
say, you think it will be more respectable to be out of business—to have
an establishment like a nobleman—and to introduce your sons and daugh­
ters into fashionable society. Oh, if that is the reason, by all means g o :
if you have become so high that you look down upon your business, the
sooner you leave it the better. I have nothing more to say to you.

Art. II.— C O M M E R C IA L C I T I E S OF E U R O P E .
NUMBER VIII.

GENOA: AND IT S COMMERCE.

G en oa is a strong, wealthy, and beautiful city of the Sardinian States,
which rises majestically, like an amphitheatre, on the skirts of the Appeaines, between the torrent of Bisagno at the east, and that of the Polcevera at the west. The magnificence of her palaces, churches, and other
edifices, gave to her the appellation of Genoa the Superha. The port of
Genoa has a half circular shape, and is one of the best in the Mediterra­
nean ; it is protected at the east by the old quay, and at the west by the
new one. At the extremities of these two quays, which form the entrance




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Commercial Cities o f E urope:

to the port, are two splendid light-houses. The Darsina, situated on one
of the sides of the port, is a place where the royal ships are repaired;
connected with it is the royal arsenal of marine, and the Bagno, or gal­
ley-slaves’ prison. Genoa is divided into six districts, viz : St. Vincenzo,
Molo, Porteria, Maddalena, Pre, and St. Tzidoro.
The population of Genoa is not well ascertained ; some set it down
114,000, others 130,000. W e think we would not be far from the truth
in adopting the medium, 120,000. In this calculation the suburbs are not
included.
The administration of the government is vested in a governor, a senate,
and a court of magistrates ; commercial questions are decided by a tribu­
nal of commerce, from whose decisions one can appeal to the senate.
The ecclesiastical jurisdiction devolves on the archbishop, that of the navy
on a Board of Admiralty, and that of the Porto-franco on a Chamber of
Commerce, composed of merchants, and presided over by the lord lieu­
tenant of the province, and a vice-president.
The appearance of Genoa must be truly imposing to the traveller who,
for the first time, traverses it in an open carriage. He rides through the
splendid suburb of Sampierdarena, enters the magnificent gates of the
Lanterna, rides over a delicious street on the sea-shore, where the magi©
panorama of the city, and the forest of masts in the port, announce to him
that he has reached the proud capital o f d d Liguria. The gorgeous
marble galleries over the port, and the adjoining sumptuous edifices, are
the terraces, with the garden and palace of Andrea Doria, (called the
prince’s palace,) where Charles V. and Napoleon resided. After passing
the square of the prince, two magnificent streets come in view; the one to
the left is Carlo Alberto’s, which has been opened With the utmost liber­
ality for the convenience of the commerce. The most remarkable works
in this street are the magnificent lodges or porticoes, built with a white?
stone resembling marble, which support a gallery of white marble, whose
seventy-one arcades extend from the old palace of St. George (now the
custom-house) to the gate of the Darsina. Entering the other large street,
two edifices of immense dimensions attract the attention of the traveller j
one is the Annona, now the troops’ quarter, the other the royal land arse­
nal. At the end of these streets is the pretty square of Aequaverde, the
largest of the few squares of the city, which is surrounded by a double
row of trees, and adorned with marble seats. The beautiful palace Farreggiana, covered entirely with white marble ; that of the Marchioness
Remedi, of Gothic-Chinese style, open the passage to the magnificent
streets Balbi, Nuova, Nuovissima, and Carlo Felice, a truly artistieal gal­
lery of palaces, unique in the world.
After the square vulgarly called St. Domenico, which is enclosed by the
Theatre Carlo Felice, one of the finest in Italy, the Academy of Fin©
Arts, the palace DefFerrari, that of Defornari, you enter the Via Giulia,
and then the Via della Pace, beyond the old gate of the Arco. Both
these streets are sufficiently large, very well paved, and sided by elegant
private dwellings. Leaving the city by the gate of the Pila, you come
to the smiling plains of Bisagno, where stands the pretty Albaro hill,
adorned with sumptuous palaces and magnificent gardens. The other
streets of Genoa, generally speaking, are narrow, steep, and irregular,
on the sides of which are very tall houses five or six stories high. Thecity is abundantly provided with water, supplied principally by an acque-




Genoa: and, Us Commerce.

377

duct which begins at Viganego, eleven miles from the city, (a wonderful
and bold work by Marino Boccanegra;) its numerous pipes, which circu­
late under ground in every sense, carry the water in every part of the
citizens’ houses.
Among the public walks of Genoa, that of the Acquasola deserves to be
first mentioned. It is a vast garden, with splendid avenues of trees all
around, here and there delicious groves, a belvidere, a day theatre, and a
Chinese coffee-house. This fine promenade offers many beautiful per­
spectives. Contiguous to the Acquasola is the celebrated villa of the
Marquis De Negro, a distinguished Mecenas and favorite of the Muses.
The bastion of St. Chiara offers likewise a delicious walk, as also the
walls round the port; but the Acquasola has caused them to be almost forgotton. The streets Balbi, Nuova, and Nuovissima receive once more
the concourse of the beau monde, especially on festival days in winter.
Genoa possesses numerous churches, many among them are of a won­
derful magnificence. The Annunziata del Vastato, St. Lorenzo, (the ca­
thedral,) Sta. Maria delle Vigne, St. Siro, Sta. Maria di Carignano, and St.
Ambrogio, are the most remarkable. The piety of the Genoese was not
confined to merely erecting magnificent temples, but they devoted also large
sums to charitable institutions. The poor-house of Carbonara, which, for
its magnificence, might well be called the palace of the poor, contains a
large number of people, who are employed in the weaving of wool, thread,
cotton, &c. The great hospital of Pumattone is a noble structure, where
from 9,000 to 10,000 of the poor find shelter, assistance, and medicines ;
from 600 to 1,200 beds are constantly occupied. The hospital of the In curables, or Spedaletto, is another splendid establishment, destined to the
poor of every age and sex afflicted with chronic and incurable diseases.
Once were admitted in the Spedaletto those unfortunate persons whorare
deprived of the use of their reason, but recently has been constructed
for them a magnificent mad-house. There are besides, the military hos­
pital, della Chiappella, and that of the royal navy. There is in Genoa
an institute for the deaf and dumb, a college for the orphans, where poor
children who have lost their parents are instructed in the arts and trades,
and receive the first rudiments of letters. A monte di fie ld (a pawning
establishment) lends money on every kind of deposits. Among many
other philanthropic institutions, we must not forget to mention the associa­
tion of Our Lady of the Providence, whose object is to procure for poor
families, at their own residences, medical and surgical assistance and med­
icines. The magistrate of the poor and the Ladies of Mercy are also
very beneficial to the needy.
Genoa did not escape the sarcasms of ill-informed foreigners, who called
the Italians degenerated from their ancestors in the cultivation of the arts
and sciences. We cannot better answer their taunts than by the simple
indication of the principal scientifical and artistical institutions which
honor this city. Foremost among them are the University, the Nautical
College, the Academy of the Fine Arts, the Royal College, directed by
the Jesuits,* three infant schools, a seminary for young men destined for
the pulpit, the Musical Academy, a charity school for each district, the
* Since last April (1848) the Jesuits have been expelled from this city and from the
whole of Italy.




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Commercial Cities o f E urope:

pious schools of the Somaschi fathers, the school of the city, and many
primary and secondary schools approved by the Royal University.
The lands in the territory of Genoa are not very productive, except in
the immediate vicinity of the city, which produce in abundance fruits,
greens, legumes, &c. Genoa communicates with the port by means
of four bridges, v iz : the Royal, where are seen collected the most ele­
gant boats for pleasure excursions, and through which is introduced and
shipped the oil of the state ; the bridge of Mercanzia, destined for goods
of all descriptions, which, from the Porto-franco, are shipped on board the
vessels, or sent to the custom-house of St. L azzaro: the bridge of the
Legna, for wines and lum ber; finally, that of the Spinola, for coal and
bricks.
•
The industry of Genoa is very active, and there are a great number of
skilful mechanics. The principal manufactures are silk goods, fine vel­
vets, damasks, and stuffs of all descriptions and colors, stockings, ribbons,
sewing silk, caps, handkerchiefs, cloth, paper, vermicelli, soap, cream of
tartar, white lead, fustians, cambrics, muslins, playing cards, eastern caps,
hats, gloves, arms, artificial flowers, &c., &c. In Genoa are worked, in a
superior style, marble, alabaster, coral, gold, silver, and copper. Plain
silks, velvets, and damasks formed, in the last century, the principal arti­
cles of Genoese industry; but those branches, though very important yet,
have suffered a great deal from the high duties adopted by all nations.
Only 300 looms are at present employed in the city and vicinities for the
manufacture of velvets, and 250 for other stuffs, the exportation of which
amounts yearly to 23,000 kilograms, and 3,400 of spun silk, which find
good markets in the north of Europe, in the East, and in America. The
manufacture of white, blue, and wrapping paper, pasteboard, &c., is
likewise an old national industry, the principal seat of which is Yoltri,
and other surrounding places, where are numbered about 160 paper
factories, which export every year 2,400,000 pounds, principally to Mexico,
South America, Sicily, Portugal, &c., where are also exported 40,000 or
50,000 packs of playing cards. In the city and its vicinity are also 71
manufactories of vermicelli and other pastes, reported the best in Italy; of
which, besides the immense consumption made in the state, 24,000,000
pounds are exported to England, France, Germany, Lombardy, Tuscany,
Switzerland, Spain, the East, America, &c. The manufacture of wool
has of late acquired a new impulse ; the extensive manufactory of Messrs.
Dealbertis, at Voltri, possesses very fine water-power machines. There
are at Yoltri, Pegli, &c., about twenty smaller manufactories besides;
which, together with the works that come from the poor-house, supply a
great part of the local consumption. The spinning wheels worked by
machinery increase considerably every day in the Western River. Signori
Rolla & Sons have established extensive spinning wheels at Sampierdarena, Conegliano, Voltri, &c., and the success of their enterprise has en­
couraged other speculators to follow their example. The spinning by
hand, which is so active in Genoa, is yielding the ground to the power of
machinery, and English spun cottons become scarcer every day in our
market. The manufacture of stockings, caps, &c., keep employed a great
number of looms in the city of Genoa, and 6,000 more for the manufac­
ture of fustians, &c., are in full activity in Genoa and the Eastern R i­
viera. In the establishment of Messrs. Rolla & Sons are manufactured




Genoa: and its Commerce.

379

magnificent stuffs of damask cotton cloth for furniture, and very tasty fancy
stuffs for pantaloons, &c., English style.
The art of the confectioner has flourished in Genoa from a very remote
antiquity, and her preserved fruits have no equal in the world. It is as­
tonishing the immense quantity of confectionaries that is consumed in the
state, and the large quantity which is yearly exported, principally to the
north of Europe. The goldsmith trade is particularly to be admired in
the truly beautiful ornaments with which the country women bedeck their
persons. A large quantity of them is also shipped to America.
There are in Genoa no less than 40 dyeing establishments, an art which
has always flourished in that city. Those of Messrs. Rolla & Sons rival
those of France and England. The printing of chintzes is carried on to a
great extent, principally in the village of Conegliano, and its produces are
very much sought after both in the state and in the east. Two thousand
iron bedsteads, varnished and gilded, are manufactured yearly in the city,
two-thirds of which are for exportation. Genoa has always been celebrated
for her coral works; but the fickleness of fashion in Europe, by diminishing
the value of this pretty ornament, has dealt a fatal blow to this branch of
industry. The principal markets for this article are now the East Indies and
America. Another branch of industry, for which Genoa has always been
justly celebrated, is that of artificial flowers. Those which are manufac­
tured in the Conservatorio of the Fieschine are incomparable for their per­
fect imitation of nature. Madamh Villard, and some of her pupils who
keep separate establishments, are very skilful in the manufacture of fancy
flowers, genre de P a ris; the most part of the other establishments, about
a dozen in number, manufacture common flowers of little value, which
are sold for the use of churches, in the two riviere, and the cities of the
east. The use of machinery has produced a great improvement in the
manufacture of gloves ; there are in Genoa six establishments, whose pro­
ductions are in great demand in Lombardy, Parma, Piacenza, the Roman
States, &c. Twelve establishments in the city manufacture snuff-boxes,
vases, cups of a very thin light wood, to which is given a bright varnish,
generally black, which are very much valued. In the vicinity of the city
there are about 12 factories of white lead, greatly valued for its whiteness
and lightness. Their yearly production is estimated at 700,000 pounds,
600.000 of which are exported, principally to the east. The soap which
is prepared in about 20 manufactories, scattered between Sampierdarena
and Varazzo, is excellent, owing to the good quality of the oil employed.
These establishments produce enough for the consumption of the state,
and export 27,000 pounds. Among the thirty manufactories of combs and
other objects of ivory, those of Messrs. Degola & Pavero, which are
worked by machinery, deserve particular mention, on account of the impor­
tance and beauty of their works. Nearly 1,700 females are constantly em­
ployed in working on laces, tulles, embroideries, &c., which are much ad­
mired for their beauty, and in great demand for their cheapness ; they are
exported to Tuscany, Spain, Portugal, and America. Here, in the vicinity
of the city, are 28 tanneries, where are prepared yearly 63,000 leathers, viz :
45.000 for gloves, and 15,000 for shoemakers’ use. Ship-building is carried
on to a great extent in the two rivers, and all the materials are drawn from
the state. Piedmont, Savona, and Albenga furnish lumber ; Savoy, and
the north of the Duchy, iron ; Genoa, wrought copper, screws, and pul­
leys ; Varazzo, Sestri, and Sampierdai’ena, cables; and Genoa and Sa­




380

Commercial Cities o f E urope:

vona, sails. There are besides 3 manufactories of starch, 8 of tinder
and lucifer matches, 22 of castor hats, 2 of straw hats, 19 of wax, 9
of tallow candles, 2 of sealing-wax, 2 of strong glue, 3 of red bonnets,
eastern fashion, 2 of nautical instruments, 5 of musical instruments, 13
of liquors, 10 of perfumery, 12 of chemical preparations, 1 of oil-cloth,
7 of sails and flags, 3 breweries, 12 rope manufactories, 134 foundries,
2 type foundries, 13 typographies, 1 extensive powder mill, 120 cabinet
makers, &c.
There are in Genoa 15 eating-houses, 400 taverns, 200 greens and
legumes retailers, 40 cook and pie shops, 200 fruit stands, 42 back­
ers, 110 retailers of wood and coal, and 50 coffee-houses; among which,
though small, are to be remarked II Gran Cairo and L a Costanza. Among
the large number of hotels, the most conspicuous are Le quattro Nazioni,
La Villa, Londra, L a croce di Malta, and Fedar.
The Porto-franco, (free port,) established by the republic in 1751, is an
enclosure composed of 11 wards, containing 370 stores, more or less spa­
cious, where are deposited the rich goods and productions of all parts of
the world, and where they can remain for any length of time free of
charges ; then, if they are exported to foreign countries by the land route,
they are not subject to any duty, but, should they be exported by sea, they
must pay a duty of from 60 to 120 centimes for every kilogram, according
to the quality of the goods. Those alone which are introduced for the
consumption of the city and the state, are subject to duties more or less
high, regulated by the tariff of the government.
The ports of the Duchy are on the east river, Camogli, Porto-fino, the
Badia di Lastori, the Gulf of Rapallo, and the spacious and safe Gulf of
the Spezia, where is situated a larger and more convenient plague-house
than that of Bisagno, near the city. On the west river are the ports of
Savona, Monaco, Porto-Maurizio, St. Remo, and the large Gulf of Vado.
The celebrated Bank of St. George, founded in 1407, is one of the
oldest banks of discount and deposit in Europe. Genoa was for a long
time a dangerous rival of Venice, to whom she disputed long the empire
of the seas, and divided with her the trade which was carried on with Egypt
and all the ports of the east and west. The rivalry which existed between
these two powerful republics was the source of many bloody wars, in
which Genoa distinguished herself for her superiority, and for two long
centuries she obtained many advantages over Venice ; till, at the end of
the fourteenth century, Andrea Contarini, the Doge and general of the Venitian forces, by a stroke of lucky despair, in the celebrated battle of
Chioggia, secured to his republic the rule of the seas.
The maritime commerce of Genoa suffered considerably from the vi­
cissitudes of time. The navigation of the Atlantic rose on the ruin of
that of the Mediterranean, and the vast populations to whom Genoa and
Venice carried the precious productions of the eastern world, now go di­
rectly to supply themselves at the source. This was the consequence of
events which no human foresight could prevent, and the Genoese are en­
titled to a great deal of credit, for struggling energetically against the force
of unfavorable circumstances. They have succeeded by their ingenuity to
create, so to say, a new world to exercise their natural genius for commerce.
The present maritime commerce of Genoa is directed particularly to
South America, Mexico, the W est Indies, England, and almost every port




Genoa: and its Commerce.

381

of Africa, Asia, and the Black Sea. The trade of Genoa with the east
has of late years considerably decreased. Marseilles, Leghorn, and T ri­
este have now a more extensive trade with those places. One of the
principal causes of the falling off of that trade is, in my opinion, the want
of a convenient plague-house to purify the merchandises; that of the
Varignano, though an excellent and splendid building, being too distant
from the c ity ; and that at the mouth of the Bisagno, besides its not being
sufficiently large, is built on a coast exposed to every wind, which renders
very uncertain the time of the landing and of the shipping of the goods,
and often occasions delays injurious to captains and merchants.
The Sardinian navy is known and appreciated in every sea— 19 steam­
boats, 4 Sardinian, 5 French, 6 Neapolitan, and 4 Tuscan, keep up active
and regular communications between Marseilles, Genoa, Leghorn, Civita Vecchia, and Naples. Two more lines of steamboats were destined for
the communications between Genoa, Marseilles, and the different ports of
Spain; but the political troubles of this last country have suspended their
operations. Three magnificent royal steamers are employed to keep up
a periodical communication between Sardinia and the States of Terra
Firma ; three more of private concern are employed to make trips between
Genoa, Nice, and Leghorn.
The Indicatore of 1846 gives for Genoa 22 banking-houses, 218 mer­
chants having stores in Porto-franco, and several hundred other merchants,
traders, mercers, &c. The Genoese merchant is shrewd, active, assidu­
ous, economical, enterprising, and scrupulous in keeping his word. Busi
ness is transacted in Porto-franco till 3 P. M., and in the little square of
the banks in the afternoon till evening.
The price of goods is generally established in a nominal currency
called fuori banco, and afterwards reduced in newlivres o f Piedmont. 100
livres fu o ri banco=83^ new livres of Piedmont. In the shops of the city
they generally sell in a currency called abusive. 100 livres abusive=80
new livres of Piedmont.
The interior trade of Genoa is principally with Piedmont, Lombardy,
Switzerland, Parma, Piacenza, &c. Genoa supplies them with West
India products, especially with large quantities of muscovado sugar for
the refineries of Milan, cotton, indigo and other dyes, drugs, spices, oil of
her two rivers, tunny of Sardinia and other salt fish, leather, pepper, fruits,
&c., which she exchanges with their different manufactures, and many
natural productions of Upper Italy, as Bologne hemp, Cremona flax, silks,
cheese, butter, grains of Lombardy, silk, hemp, and rice of Piedmont, &c.
OFFICIAL LIST OF THE GOODS CLEARED BY THE CUSTOM-HOUSE OF GENOA, AND PASSED FROM THE
COMPTROLLERY OF ST. LAZZARO IN THE YEAR 1844.
,

Sugar of every kind.........................................................................................
Coffee.................................................................................................................
Pepper and cocoa.............................................................................................,
Cotton..........................................................
Leather and skins.............................................................................................
Dyeing woods, and wood for cabinet making..............................................
W ools................................................................................................................
Tissues and hardware......................................................................................
Drugs.................................................................................................................
Sundry articles.................................................................................................
Iron and other metals.........................................................
Total sum.............................................................................................




80,033
13,170
4,647
19,627
4,223
2,627
446
9,151
737
59,147
7,946

47
53
44
61
99
41
57
6]
42
23
75

201,760 02

382

Commercial Cities o f Europe.

The grain trade of Genoa is very important, not only on account of the
home consumption, which is principally supplied by the Island of Sardinia,
by Piedmont, and Lombardy, but for the extensive depots which are there
formed of the grains of the Black Sea, of the Azoff, and the Danube.
This important trade is carried on by Genoese merchants on their own
account, because, in consequence of the heavy differential duties establish­
ed in 1825 on breadstuffs and liquors in favor of the Sardinian flag, all
large shipments of grains took the direction of the near port of Leghorn.
By the active commercial intercourse which our vessels keep up with South
America and the W est Indies, we have always abundant supplies of co­
lonial productions and leather. Genoa is the first depot for leather in the
Mediterranean ; and, leaving London aside, which is at present the first
mart of the world, Genoa disputes with Anvers the supremacy, above all
other cities of Europe, in this branch of commerce. Every year arrive
in our port several cargoes of pepper, which find always ready cash pur­
chasers. The cotton trade is decidedly in decadence, for want of a con­
venient quarantine. The manufacturers of Milan, Switzerland, and Pied­
mont get their supplies mostly from Marseilles and Trieste. Piedmont
alone uses 26,000 bales of cotton, and in the last six years the average
supplied by Genoa was only 3,200. The exemptions of Nice are very
injurious to the commerce of G enoa; for, in consequence of them, Turin
gets from Marseilles, by way of Nice, its supplies of colonial staples and
other goods. It is Marseilles, likewise, that supplies Piedmont and Swit­
zerland with cotton, while Trieste and Venice (the former particularly)
draw to themselves many orders from Lombardy.
L IS f OF NATIONAL AND FOREIGN VESSELS ENTERED IN THE FORT OF GENOA FROM

No. of vessels.

Years.

1839..............
1840.............. ...........
1841..............
1842.............
1843.............. ...........
1844..............

5,230
6,422

NATIONAL.

Tons.

299,030
300,540
269,490
240,173
263,114
245,850

Crew. No. of vessels.
33,750
800
34,537
885
35,425
958
31,685
1,143
41,368
1,146
38,802
1,170

1839

TO

1844.

FOREIGN.

Crew.
8,691
10,141
11,250
12,637
12,193
14,042

Tons.

80,428
95,797
103,871
115,811
115,201
126,030

LIST OF STEAMBOATS ENTERED IN THE PORT OF GENOA IN THE YEAR

1845.

AIM* xi* * c m c i 3 .

i o ils .

rosseugvra.

Sardinian.......................................................
French............................................................
Tuscan......... .. .......................
Neapolitan.....................................................

178
70
102
76

19,502
14,115
27,966
20,329

4,895
1,622
3,866
3,071

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

426

81,912

13,454

OFFICIAL LIST OF NATIONAL VESSELS IN THE PORT OF GENOA TO DECEMBER

Bound to

Genoa.................................
Savona...............................
Nizza...................................
Oneglia...............................
Chiavari............................. ..................
Spezia.................................
T otal......................

\




Of tons
30 and less. 31 to 6i). 61 to 100.

48
28
19
23

92
22
2
12
11
15

135

154

ii
510

31, 1844.

101 and more.

Total.

653
50
3
6
13
15

1,274
459
269
183
553
319

740

3,057

Commercial Cities and Towns o f the United States.

383

Art. III.— COMMERCIAL CITIES AND TOWNS OF THE UNITED STATES.
HUMBER X II.

OUR C IT IE S—A TLA N TIC AND IN TERIO R.

A l l people take pride in their cities. In them naturally concentrate
the great minds and the great wealth of the nation. There the arts that
adorn life are cultivated, and from them flow out the knowledge that gives
its current of thought to the national mind.
The United States, until recently, have had large cities in the hope
rather than in the reality. It is but a few years since our largest city
reached a population of one hundred thousand. Long before that period,
sagacious men saw, in the rapid growth of the country and the aptitude of
our people for commerce, that such positions as those occupied by Phila­
delphia and New York must rapidly grow up to be great cities. This,
however, was by no means the common belief in this country ; and our
transatlantic brethren treated with undisguised ridicule the idea that these
places could even rival in magnitude the leading cities of their own coun­
tries. New York is now sometimes called the London of America. Not
that those calling her so suppose she will ever come up to that mammoth
in size and importance, but because she holds in the New World the rela­
tive rank which London holds on the Old Continent.
,
It is believed that few persons, at this time, have a sufficiently high appreciation of the future grandeur of New York ; and yet fewer can be found
who doubt that she will always continue to be the commercial capital of
America. If this should be her destiny, the imagination could hardly set a
limit to her future growth and grandeur. It would be presumptuous to say
that her population might not reach five millions, within the next century
and a half. Of the few persons who have doubted her continual suprema­
cy, most have given the benefit of the doubt to New Orleans. This outport of the great central valley of North America was believed to com­
mand a destiny, when this valley should become well peopled, that might
eclipse the island city of the Hudson.
Some twenty years ago, the writer, then living in a south-eastern State,
was convinced that the greatest city must, in the nature of things, at a
not very distant day, grow up in the interior of the continent. Of this
opinion he thinks he was the inventor, and, for many years, the sole pro­
prietor. If it had been the subject of a patent, no one would have been
found to dispute his claim to the exclusive right to make and vend, (if that
could be said to be vendible which no one would be prevailed on to take
as a gift.) That such an opinion should appear absurd and ridiculous, may
very well be credited by most people, who consider it not much less so
now. The largest city of the interior was then Cincinnati, having scarcely
20,000 inhabitants; and the sum total of all the towns in the great valley
scarcely exceeded 50,000. St. Louis at that time had but 5,000, and
Buffalo about the same number. Here, then, was a basis very small for
so large an anticipation. Who could believe that St. Louis, with 5,000
people, could possibly, within the short period of 150 years, become greater
than New York, with a population of near 200,000? But what seemed
most ridiculous of all was, that the future rival of the great commercial




384

Commercial Cities and Towns o f the United States :

emporium should be placed a thousand miles from the ocean, where neither
a ship of war nor a Liverpool packet could ever be expected to arrive.
Since 1828, some changes of magnitude have taken place; and the
writer’s exclusive right might now be questioned. There are now other
men, considered sane men, who believe the great city of the nation is to
be west of the mountains, and quite away from the salt sea. Governor
Bebb, in a late address before the Young Men’s Library Association of
Cincinnati, expressed his decided belief that Cincinnati would, in the
course of a century, become “ the greatest agricultural, manufacturing, and
commercial emporium on the continent.” There are other men, now, not
much less distinguished for knowledge and forecast than Governor Bebb,
who entertain the same belief. W hat has wrought this change of opin­
ion ? Time, whose business it is to unfold truth and expose error, has
given proofs which can no longer be blinked. The interior towns have
commenced a growth so gigantic that men must believe there is a power
of corresponding magnitude urging them forward;—a power yet in its
infancy, hut unfolding its energies with astonishing rapidity.
Let us make some comparisons of the leading eastern and western
cities. New York was commenced nearly 200 years before it increased
to 100,000 people. Cincinnati, according to Governor Bebb, has now,
fifty years from its commencement, 100,000 inhabitants. Boston was 200
years in acquiring its first 50,000. New York, since 1790, when it num­
bered 33,131, has had an average duplication every fifteen years. This
would make her population in 1850, 530,096. This is very near what it
will be, including her suburb, Brooklyn.
Cincinnati has, on the average since 1800, when it had 750, doubled
her numbers every seven years.
NEW YORK.

1790............. ........
1805............. ........

33,131
66,262

1820... ..................
1835... ..................

1800............. ........
1807............
1814.............

750

1821... ..................
1828.. ..................
1835... ..................

132,524
265,048

1850........... ........

530,096

6,000
12,000
24,000

1842............. ........
1849............ .........

48,000
96,000

CINCINNATI.

It appears from this table, that, on the average of fifty years, Cincinnati,
the leading interior town, has doubled her population every seven years ;
while New York, on the average of sixty years, has scarcely doubled hers
in every period of fifteen years. If New York is compared with Cincin­
nati during the same fifty years, it will be seen that the period of her du­
plication averages over fifteen years. She had, in 1800, 60,489. Doub­
ling this every fifteen years, she should have, in 1850, nearly 650,000.
This number will exceed her actual population more than 100,000, whereas
Cincinnati in 1850 will certainly exceed 96,000.
Let us now suppose that, for the next fifty-four years after 1850, the
ratio of increase of New York will be such as to make a duplication every
eighteen years, and that of Cincinnati every ten years. New York will
commence with about 500,000, which will increase by the year
1868 to........... .. 1,000,000 1 1886 to..............

2,000,000 | 1904 to.............

4,000,000

Cincinnati will commence in 1850 with at least 100,000, which will
double every ten y e a rs; so that in




Our Cities— Atlantic and Interior.
I860 it will be...
1870
“
...

385

200,000 I 1880 it will be... 800,000 I 1900 it will be... 3,200,000
400,000 | 1890
“
... 1,600,000 | 1904
“
... 4,066,667

The resulting figures look very large, and, to most readers, will appear
extravagant.
Let us suppose the duplication of New York, for the next 100 years,
to be effected on an average of twenty years, and that of Cincinnati of
twelve years.
NEW YOBK IN

.500,000 1890... .............. 2,000,000 1930........ ....
1850....... ....
1870....... .... 1,000,000 1910... .............. 4,000,000 1950........ ....

8,000,000
16,000,000

CINCINNATI IN

1850.......
1862.......
1874...... ....

800,000 1922........ ....
1886... ..............
1898... .............. 1,600,000 1934........
400,000 1910... .............. 3,200,000 1946........

6,400,000

This looks like carrying the argument to absurdity ; but if these two
leading cities be allowed to represent all the cities in their sections re­
spectively, the result of the calculation is not unreasonable. It is not be­
yond possibility, and is not even improbable.
The growth of the leading interior marts, since 1840, has been about
equal to the average growth of Cincinnati for fifty years past. This
growth, for the last eight years, according to the best information to be
obtained, h.as been more than 115 per cent, as the following table will
show ;—

1840. 1848.
Cincinnati............... ..........
St. Louis................. ..........
Louisville ...............
Buffalo..... I............. ..........
.Pittsburgh.............. ..........
Columbu s.............. ..........
Dayton..................

46,000
16,000
18,000
31^000
6,000
6,000

95,00©
45.000
40.000
42.000
58.000
14.000
14.000
14.000

Detroit.................. ...........
Milwaukee............ ..........
Chicago.................
..........
Rochester..............

1840. 1848.
9,000
2,000
5,000

17,000
15,000
17,000
11,000
30,000

Total................. .......... 191,000 412,000

T h e growth of the exterior cities for the same period has been about
38 pe r cent, according to the following figures :—

1840.
......... 312,000
Philadelphia....... ........ 228^000
Baltimore........... ...... 102,000
New,' Orleans.... ...... 102,000
93,000
29,000
Cha rleston.......... .........

1848.

1840.

1848.

425.000
... 11,000 14.000
350.000 Mobile.....................
12.000
140,000 Brooklyn................. ..
36,000
72,000
102,000 Portland.................. ... 15,000 24,000
130,000
Total................... ... 940,000 1,300,000
31,000

'The census for 1840 is our authority for that year. For 1848, we have
lake enumerations of most of the cities. The others we estimate.
There are doubtless a few inaccuracies in the detail, but not enough to
v ary the result in any important degree.
In the aggregate our interior cities, depending for their growth on in­
fernal trade and home manufacture, increase three times as fast as the ex­
terior cities, which carry on nearly all the foreign commerce of the coun­
try, and monopolize the home commerce of the Atlantic coast. This is
■si fact of significance. It proves that our fertile fields, after supplying food to
•every body in foreign lands who will buy, and feeding the cities and towns
of the Atlantic States, have sufficed to feed a rapidly growing town popu­
lation at home. It proves, also, that the western people are not disposed
VOL. xxx. — n o . iv.
25




386

The Law o f Debtor and Creditor in Tennessee.

to accept the destiny kindly offered them by their eastern brethren, of
confining themselves to the hand work of agriculture—leaving to the old
States the whole field of machine labor. Although the land on which the
people of the great valley have but recently entered is new, the civil, soeial,
and economical condition of this people is advanced nearly to the highest
point of the oldest communities. The contriving brain and the skilful
hand are here, in their maturity. The raw materials necessary to the artizan and the manufacturer, in the production of whatever ministers to
comfort and elegance, are here. The bulkiness of food and raw materi­
als makes it the interest of the artizan and manufacturer to locate himself
near the place of their production. It is this interest, constantly opera­
ting, which peoples our western towns and cities with immigrants from the
eastern States and Europe. When food and raw materials for manufac­
ture are no longer cheaper in the great valley than in the States of the
Atlantic and the nations of western Europe, then, and not till then, will
it cease to be the interest of artizans and manufacturers to prefer a loca­
tion in western towns and cities. This time will probably be about the
period when the Mississippi shall flow towards its head.
The chief points for the exchange of the varied productions of industry
in our western valley will, necessarily, give employment to a great popu­
lation. Indeed, the locations of our future great cities have been made
with reference to their commercial capabilities. Commerce has laid the
foundation on which manufactures have been, to a great extent, instru­
mental in rearing the superstructure. Together, these departments of la­
bor are destined to build up, in our fertile valley, the greatest cities of the
world.
For additional facts bearing on the relative claims of eastern and west­
ern cities to become great commercial marts, the reader is referred to
Vol. XIV., page 163, of this Magazine.
J. w. s.

Art. IV.— T H E LAW OF D E B T O R AND C R E D I T O R IN T E N N E S S E E . * '
T i i e punctuation of the paragraph on page 378 of the October number,
upon the Jurisdiction of Justices of the Peace, is printed incorrectly, and,
as it stands, altogether defeats the sense of the paragraph. It ought to be
printed thus:—
A justice of the peace has jurisdiction—to the extent of $50, of all
debts, demands, and civil injuries for which the laws of the land furnish
remedies—to the extent of $200, upon accounts liquidated and signed by
the party chargeable, against the obligors of bonds for the payment o f
money, the makers of promissory notes, the acceptors and drawers of bills
of exchange, the endorsers of negotiable paper who have, by the terms of
endorsement, waived demand of payment and notice of non-payment, and
indeed to the same extent ($200) against a party chargeable upon any
writing which will support an action of debt at common law.
Briefly, justices have jurisdiction of all civil wrongs to the extent of
$50. In no instance does their jurisdiction exceed $200, and in none does

Continued from the Merchants’ Magazine for October, 1847.




The Lam o f Debtor and Creditor in Tennessee.

387

it extend to that sum, except in the cases specifiedin the second class above
stated. Thus much to correct erroneous printing in the former number.
ATTA CH M EN TS.

It has been already stated that imprisonment for debt does not exist in
Tennessee. No process against the body can be had at law for a civil
wrong. To supply this deficiency, and to enable the creditor or party injured to capture and hold, to abide the issue of his demand, the property
of the debtor or wrong-doer, the remedy of attachment has recently been
enlarged much beyond its former limits, embracing many classes of cases
not before within its application, and forming a proceeding of summary
and stringent efficacy.
Formerly, the property attached was held merely as a means to compel
the appearance of the defendant, to subject him to the jurisdiction of the
court. The law authorized him to replevy the property attached, by giving
bond in double the debt with sureties for his appearance, which bond ope­
rated as special bail. The property was restored to the debtor discharged
of the attachment, the sureties in the bond being liable only in case the
creditor took out, after judgment, an execution against the person of the
debtor, and the debtor failed to be forthcoming to the sheriff. Of course,
the process of attachment lost all its value as a compulsory remedy against
a fraudulent debtor when the legislature abolished imprisonment for debt
and process against the person. Now, however, by the late changes made
in this branch of the law of the State, the property seised stands a secu­
rity for the debt or demand. The defendant may replevy the property by
giving bond with sureties in double the debt to pay the debt or demand, or
to have the property forthcoming, or to pay its value in the event he be
cast in the suit.
Formerly, attachments could be sued out only against inhabitants o f
other governments, persons who had removed themselves privately out of
the country, persons removing themselves privately out of the country,
persons who so abscond or conceal themselves that the ordinary process of
law cannot be served on them. The recent statutes extend the remedy
against persons who are non-residents of Tennessee, (if that phrase mean
anything other than inhabitants o f other governments,) persons removing
or about to remove their property beyond the limits of the State, and per­
sons absconding or concealing their property or effects.
Formerly, attachments could be had only for money demands, cases
which would sustain an action of debt at common law. Now, it is not
easy to define the character of the demands upon which this process may
be had. The former doctrine of the courts was, to intend nothing in fa­
vor of attachments, to confine them to cases strictly within the letter of the
statutes, and to require all forms to be precisely pursued. Latterly, the
current appears to have changed. The Supreme Court thinks this reme­
dy in favor with the legislative authorities, and endeavors to conform its
decisions to the apparent intuition and tendencies of the legislature, and
generally to give to the statutes of attachment liberal construction and application. Thus, it has been lately decided that an attachment may be
had for the injury occasioned by the failure of a common carrier (a steam­
boat) to transport and deliver, according to destination, a quantity of to­
bacco. Whether the form of action was assumpsit or case, I am unable
to say, the book not being within reach at the time of this writing. Prob­




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The Law o f Debtor and Creditor in Tennessee.

ably, however, the form of action would not be held material. The lan­
guage of the act of 1843 is not very accurate or technical, but it seems to
contemplate the application of the attachment to all kinds of civil injuries,
as against inhabitants or residents of other governments, persons removed
or removing their property out of the State, or absconding or concealing
themselves or their property.
The property which may be seised by this process, is indicated by the
phrase employed by the statute— “ the property, debts, choses in action, and
effects of the debtor.” Such is the phrase in the act of 1843. The act
of 1836, which authorized the attachment to be had in the Chancery
Courts, without prior judgment at law, against debtors non-resident or ab­
sconding, uses the words “ real or personal property, of either a legal or
equitable nature, or any choses in action within this State, or any debts
owing by persons in this State.” It is probably safe to say, that the prop­
erty which is subject to attachment in Tennessee, may be real or personal,
legal or equitable, and all choses in action which may be recovered in any
action in the form o f contract.
Non-resident creditors have much the same rights to sue out attachment
in Tennessee as have resident creditors. The writ may be sued out at
the first or original process, or at any time during the progress of the
cause. Sureties and accommodation endorsers may have attachments
against their principals who may be removing or absconding and carrying
off their property, although the debt upon which the surety or endorsee is
liable be not due. The creditor cannot attach until the debt be due.
The writ of attachment issues, upon affidavit made by the creditor or
plaintiff, his agent or attorney, setting forth the debt or demand against the
debtor or defendant, and one or more of the grounds above designated,
upon which attachments are allowable. The creditor op plaintiff is re­
quired to give bond, with sureties in double the amount o f his debt or de­
mand, that the attachment is not wrongfully sued out. The defendant may
appear, and by proper plea deny the truth of the grounds set forth in the
affidavit as the foundation of the proceeding, and discharge and defeat it
by proving the truth of his plea or the falsity of the alleged ground of the
issuance of the attachment.
STATUTES OF L IM IT A T IO N .

In regard to land. The uninterrupted adverse possession of land seven
years, under a deed, will, or other assurance purporting to convey the
fee simple, vests the possessor with the absolute estate in the land, against
all persons (excepting those hereafter to be mentioned) who omit to make
their claim by suit begun within the prescribed time, and effectually
prosecuted. The same possession without such writing, creates a bar in
favor of the possessor, of which he may avail himself to defeat any hostile
suit begun after the prescribed time. Observe the distinctions. Posses­
sion by virtue of the deed, or other writing described, vests in the possessor
an indefeasible estate, the entire legal and equitable estate. Possession
without such deed, &c., operates no further than to furnish a plea in bar
to an adverse suit. Possession claimed and held by virtue of any writing,
embraces the quantity of land described by the writing. Naked posses­
sion without any writing, protects only the land actually and visibly
occupied. Possession without deed, &c., is available against the true
owner, to the person who has had himself the possession for the prescribed




The Law o f Debtor and Creditor in Tennessee.

389

time. It cannot be connected with the possession of others under whom
he may claim. But a person in possession claiming under the deed, &c.,
may connect with his possession that of others under whom he may have
bought or may hold, and thus make up the required seven years.
The persons excepted above as those against whom the Statutes of
Limitation do not thus operate, are married women, persons under age,
imprisoned, of unsound mind, or out of the United States. These have
three years in which to sue, after discoverture, coming of age, release
from imprisonment, restoration to sanity, return to the United States.
Cumulative disabilities are not allowed. Thus, if at the time the ad­
verse possession began, the true owner of the land be a girl, and under
age, and marries before coming of age, the being married does not affect
the operation of the statute.
The deed or other assurance which gives to the seven years’ adverse
possession the effect of vesting the absolute title in the possessor, is not
required to have been made or obtained in good faith. It has the effect
mentioned, though made for that especial purpose, and known by the
grantee to have been so m ade; and though the grantor had not any
interest in the land, or any connection with the title. In regard to debts,
contracts, and personal property, the Statutes of Limitation are framed
with reference rather to the form of action to be employed in suits touch­
ing them, than to the came or subject of the action. Actions of debt,
other than upon bonds or other sealed instruments, are barred in six
years from the time the debt fell due. Debts owing upon bonds or
sealed instruments, will be presumed to have been paid after the lapse of
fifteen or sixteen years from the time when due. This presumption, like
others of the kind, may be shown by testimony to be untrue. Actions of
assumpsit are barred in three years from the time the right to sue began.
The action of debt lies in Tennessee against the makers of promissory
notes, the acceptors and drawers of bills of exchange, persons owing upon
open account for merchandise bought, work done, money lent, &c. It
does not lie against the endorsers of promissory notes or bills of exchange.
Hence, a debt against the maker of a promissory note, the acceptor or
drawer of a bill of exchange, or person owing by open account for mer­
chandise or work or money, is not barred until six years have elapsed
from the time it fell due. But a claim against the endorser of a note or
bill is barred in three years after due. Injuries done to personal prop­
erty are remediable by the actions of trover, detinue and case. These are
barred in three years from the time the adverse possession and the right
to sue began. And generally it may be stated, that the adverse posses­
sion of personal property three years, vests in the possessor the absolute
title to the property.
The doctrine in Tennessee is, that the Statute of Limitations operates
an extinguishment of the debt or cause of action ; and that a new promise
to pay, or an acknowledgment of the debt with expressions of willingness
to pay, constitutes a new debt or contract, having for its consideration the
old debt or contract.
The Statutes of Limitation of Tennessee in regard to matters the sub­
jects of personal actions, having reference to the forms of action, it is not
easy to state the rules intelligibly to unprofessional readers. It will prob­
ably suffice for such to state, that debts owing by the makers of notes, ac­
ceptors and drawers of bills of exchange, by debtors on open account for




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The Law o f Debtor and Creditor in Tennessee.

goods, service, or money, are barred unless sued in six years from the
time they fell due ; and that endorsers upon bills or notes are discharged
unless sued in three years after the note or bill falls due. And further,
as all actions of assumpsit are barred unless begun within three years of
the time when began the right to sue, all contracts and demands which
are suable in that form of action only, must be sued within three years
of the accruing of the right to sue, or otherwise are barred.
Married women, persons under age, of unsound mind, imprisoned or out
of the Union, have three years to sue in after discoverture, coming of
age, enlargement from prison, coming of sound mind, and coming into
the United States.
For the law of limitations of demands against estates of decedents, see
the title hereafter, “ Executors, & c.”
STATUTES OF FRAUDS.

Contracts for the sale of lands must be in writing, signed by the party
to be charged, otherwise are void in law and equity. Performance in
part of a verbal contract of that kind, which the Courts of Chancery generally in England and America assume to be sufficient cause for compell­
ing its completion, is not allowed in Tennessee to have such effect. A
writing is indispensable, signed by the party to be charged.
So are void, unless in writing, a promise by an executor or adminis­
trator to pay out of his own estate a debt of his decedent, and a promise
by one person to answer for the debt, default, or miscarriage of another,
and an agreement made upon consideration of marriage, and an agreement
not to be performed in one year from the time of its making, and a con­
tract for the lease of lands longer than one year.
So are void all gifts and conveyances of lands or goods, and all bonds,
judgments, Ac., made to the intent or purpose to hinder or defraud cred­
itors of the party making such gifts, Ac., or purchasers of the lands from
him. As between the parties to such gifts, Ac., they are valid and effec­
tual. They are void only as against the creditors of the donor, &c. Con­
veyances of goods and chattels, not upon consideration deemed valuable in
law, are void as against creditors of the party conveying, unless the same
be by will duly proved and recorded, or by deed in writing duly proved or
acknowledged and recorded, or unless possession of the goods, &c., really
be and remain with the donee. So continuous possession by the loanee, for
five or more years, of personal property loaned, without demand made
and pursued by process of law by the loanor to recover the same, has the
effect to vest in the loanee the absolute estate in the goods, Ac., to the
extent to subject them to his creditors, and to make the sale of them gool
to purchasers from him, unless such loan be declared by will or deed duly
proven and recorded.
The Statutes of Frauds of Tennessee are substantially like the British
Statutes of Frauds of 29 Charles II., and 13 and 27 Elizabeth.
The retaining by the vendor of the possession of personal property al­
leged to have been sold by him, is held to be evidence that the sale was
fraudulent, in a contest between the vendee and creditors of the vendor.
Such possession is merely evidence of fraud, and may be explained and
removed by proof showing that the sale was fair.
All sales and gifts of slaves are required to be in writing duly proven
or acknowledged and registered. The effect which has been given by the




The Law o f Debtor and Creditor in Tennessee.

391

courts to the statutes in this behalf, is, that a sale of slaves is void, as
against creditors of the vendor, unless evidenced by a writing duly regis­
tered ; but is good and effectual without such writing, as between the ven­
dor and vendee, if accompanied by delivery of possession to the vendee.
A g ift is absolutely void, regardless of possession, both as between the
parties and as between the vendee and the creditors of the vendor, unless
the gift be in writing duly registered.
But here interposes with important effect the Statute of Limitations.
As above mentioned, the adverse possession of personal property three
years, vests in the possessor the absolute title to the same, and this as
well against the true owner as his creditors. The possession three years
by the vendee or donee, claiming under a verbal gift or sale, is by the
courts held to be, and have the effect of, adverse possession, and conse­
quently to vest a perfect title in such donee or vendee.
OF REGISTRATION".

The main object of the Laws of Registry, and the chief effect given
them, is in questions in regard to the title of property, which arise be­
tween creditors and purchasers of the vendor, and between prior pur­
chasers and subsequent purchasers without notice of the prior sale. As
between the vendor and vendee, the registry of the instrument of sale is
of scarcely any importance further than as a means to preserve it, or as
evidence in any contest that may arise between them in regard to the
possession of the property. The importance of registry to the purchaser
is, therefore, mainly to protect him against creditors of the vendor, and
subsequent purchasers from the vendor, without notice of the prior sale.
And the fact to be noticed by a creditor, in ascertaining whether property
purporting to have been sold by the debtor, be or not liable to the satis­
faction of the creditor’s judgment, is whether the writing evincing such
purported sale be or not duly registered before the rendition of the judg­
ment.
The instruments required to be registered are—Deeds for the absolute
conveyance of lands, tenements or hereditaments ; bills of sale for the ab­
solute conveyance of slaves or other personal property ; mortgages and
deeds of trust of real or personal property; deeds of gift; powers of
attorney authorizing the conveyance of real or personal property, or for
any other purpose ; marriage contracts or agreements ; bonds or agree­
ments for the conveyance of real or personal property; revocations of
powers of attorney; wills made in other States intended to pass lands in
this State; decrees in chancery divesting the title to land ; leases of lands
for a term longer th a n ------years; and the act of 1839 authorizes the
registration of “ all deeds of every description,” and declares that when
duly registered they may be read in evidence, and have the like force and
effect as other registered papers.
Such instruments can be registered only upon proper probate or ac­
knowledgment of their execution. Probate is by two subscribing wit­
nesses. Acknowledgment is by the person making the instrument. It
is essential to the validity of a probate, that the witnesses testify that they
are personally acquainted with the grantor, bargainor, maker, &c., and
that the certificate of probate state such fact. It is essential to an ac­
knowledgment, that the officer before whom it is made, be personally




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Commerce: and the Prejudices against it.

acquainted with the grantor, &c., and so state in the certificate of ac­
knowledgment.
The officers before whom probates and acknowledgments can be legally
made, are, in Tennessee, the clerks of the county courts; in other of the
United States, Notaries Public, judges of Supreme or Superior Courts,
Courts of Record, commissioners appointed by the governor of TennesseeIn foreign States, before the same functionaries as in the other States of
the Union, and also before consuls and ministers or ambassadors of the
United States. The authentication of the probate, and acknowledgment,,
is generally under the seals of officers of those functionaries who have
such seals; and in the case of judges, under the hand of the judge, and
the official seal of his clerk, if an y ; and in the case of courts, under the
official seal of the clerk and the hand of the judge.
In regard to the time of registration, instruments conveying or author­
izing the conveyance of lands or personal property, take effect from the
time of their being filed in the Register’s office for registration. To affect
creditors, it suffices to file at any moment before they obtain judgmentTo affect a subsequent purchaser of the same property from the same
vendor without notice of the prior sale, it suffices to file for registration
before the subsequent purchaser does so. Notice of an unregistered in­
strument does not affect creditors of the party who made it. De­
crees in Chancery which divest title to land, are required to be re­
gistered within six months of their rendition, otherwise they are void
as against creditors of the person against whom the decree is rendered,
unless registered before the creditor obtains judgment.
Of the place of registration. In each county a Register is elected by
the qualified voters for the term of two years, who keeps his office at the
court-house in the county town. Instruments for the conveyance of lands,
are registered in the county where the land lies. Those for the convey­
ance of personalty, are registered in the county where the vendor re­
sided at the time of executing the instrument. Marriage contracts and
settlements made in Tennessee, in which the wife’s property is settled on
her, are registered in the county of the husband’s domicil at the time of
his marriage ; and if he remove to another county, the instrument must be
registered in his new domicil. Marriage contracts and settlements made
out of Tennessee, are required, upon the removal of the husband and wife
to this State bringing with them the property settled, to be registered in
the county in which they take up their residence.
The registration of judgments will be mentioned when speaking of thelien of judgments.

Art. V.— C O M M E R C E : AND T H E P R E J U D I C E S A G A I N S T IT.
W e have had occasion, very often of late, to observe with much con­
cern, that a deep-rooted prejudice is entertained by the agriculturists
against the mercantile class. Among the former, indeed, is to be found a
general distrust of commercial men. They are regarded as sharpers*
whose lives are spent in acquiring a knowledge of arts by which to de­
ceive the producer;—as men who live alone upon that class ;—who exist
not by labor, but by swindling and ingenuity;—as drones of society, cos-




Commerce: and the Prejudices against it.

393

suming the results of the toil of others, and yielding nothing whatever to
the community in which they live. We are the more pained to observe
this state of feeling, because frequently indulged in by persons of liberal
opinions in other respects; by persons who, from education and inter­
course, might be supposed capable of more enlarged sentiments. With
some, it may be that envy, which invariably poisons the feelings of bad
men at the successes of others; for of all the animosities, that entertained
by those who work with the hands against those who work with the head,
are most uncompromising and bitter. But we hope in all charity, that
with the majority of persons, the prejudice of which we write does not lie
so much in the heart, as in a misformed or untutored judgment. Now
with regard to this and other subjects, many good people are misled, be­
cause their personal and business habits confine the range of their views.
The horizon around which they look is circumscribed; and by constantly
limiting their vision within a narrow sphere, they become mentally nearsighted, and incapable of liberal opinions. To such persons, nothing is
valuable that is not the offspring of visible labor. Now that of the planter
is manual, and the products of it constantly perceivable to the ey e; while
the toil of the merchant is intellectual, and the result of it incorporeal. It
is a gross error to say that commerce is not a natural pursuit—that it is
artificial, or created out of wants produced by itself. A necessity for com­
mercial transactions is pointed out by nature. Varieties of climate, of
products, the absolute dependence of men of one country upon the manu­
factures or staples of another, the connection of parts of the same region
by rivers, and of foreign nations by seas, all furnishing channels of com­
munication, and inviting to intercourse and trade, prove that nature has
herself determined the value, and dictated the want of commercial rela­
tions. It is certain that in man’s breast she has implanted the strongest
powers and inducements to this species of enterprize; and that the ex­
ertion of it has not only contributed to produce extraordinary displays of
individual heroism, but effected the largest consequences to national gran­
deur and social advantage. To the disposition for adventure, thus made
a part of our nature, we owe the greatest of the moral and political ad­
vancements of all ages. To it is the world indebted for the increase of the
number of the sciences, which have accumulated until every vocation has
felt their influence, and been benefitted by their application. To it is
the world indebted for the spread of learning from the once confined cen­
tre of intelligence, to every part of Europe ; and Europe, in her turn, for
the moral and commercial wealth of a new continent.
To a person raising the curtain which divides ancient from modern
history, a noble spectacle is presented in view of this subject. Let him
trace the progress of commerce, beginning with the timorous voyages
along the coast of the Mediterranean and among the Grecian Islands, and
the science of ship-building from the rude barques of the early navigators,
and follow to the wonderful voyages and magnificent vessels of the present
day. Let him, during this time, keep his eye on the progress of nations,
and the advancement of men, in matters which contribute to their social
and individual good. He will see how gradually, but wonderfully, the
improvement of both has followed mercantile enterprize; and that in
proportion as encouragement has been given to commerce, the great orb
of civilization has rolled on and expanded, until all nature is lighted up
with its effulgence, and warmed with its beams.




394

Commerce: and the Prejudices against it.

Agriculture has especially derived great benefits from the labors of the
merchant. To his intercourse with foreign nations is the latter not only
indebted for new markets for his productions, but for the introduction of
new seeds and plants, which, though not indigenous to our climate, have
yet, in many instances, become not only matters of subsistence, but of ex­
portation. Commerce introduced into the Carolinas the rice and cotton
of Egypt, and into Louisiana the sugar of A sia; and upon the bosom of
the whole West is now sown broadcast the wheat of the East, growing
in abundance in places where the natural grains of the country cannot be
produced at all. Cut the most important of the advantages yielded to agri­
culture by the enterprize of merchants is, the demand created abroad for
the products of the soil, by their becoming carriers, and opening avenues
of trade to foreign countries.
We often hear men indulge in a sort of Eutopian speculations upon the
subject of living, as they say, within themselves. Such persons speak of
the happiness and prosperity of modes of life, in which each man would
depend on himself, live for himself, and cultivate only so much of the fruits
of the earth as would be necessary for his own subsistence. Such a plan
would do well enough in poetry, but not for the realities of existence. Let
one reflect a moment upon the consequences of such a Quixottic scheme.
Labor being limited to the cultivation of only a few acres, large parts of
the country would become barren, and overgrown with forests. The ex­
change of one product for another would be no longer necessary. The
intercourse of men would be destroyed, and they would sink into a state
of selfishness, enmity, and eventually, of barbarism; and not only would
labor be without its reward, but every motive for improvement lost, and
the mind return to worse than original etiolation.
A state of savage brutality and of mental deterioration, and consequently
of submission to the worst species of tyranny, is the condition of every
people cut off from intercourse with other communities. If, however, the
cultivator of the soil sees that the surplus products of his land can be
readily exchanged for the staples or manufactures of other countries, his
ambition to produce that surplus is excited, his business enlarges, his
mode of cultivation becomes improved, his farm increases, he introduces
new fruits and grains, his comforts augment, he furnishes employment to
a large number of persons who would be otherwise idle; and he becomes
not only more valuable to himself and country, but the means of adding
much to the sum of happiness of those who in distant regions receive his
products in exchange for their own. But how could all this be effected
but. for the merchant? He who, as it were, stands at the door of the na­
tion, upon the shores of the sea, to receive with one hand the products of
foreign countries, while with the other he transmits them to the interior
of his own ? Who traverses remote regions in pursuit of new opportunities
of trade, and expends his wealth in the building and improvement of ve­
hicles in which to convey safely and expeditiously the fruits of the labor
of the planter, and return in exchange for them the manufactures or
staples of foreign nations, for the comfort and subsistence of his own peo­
ple ? He who, in fact, furnishes the idea of national credit; whose enter­
prize makes up the sum of a nation’s commercial relations, and whose
integrity is identical with confidence ? The reflection is a very beautiful
and valuable one which traces the reputation of a nation among foreign­
ers to the honor of a single citizen; and yet how often has the American




Commerce: and the Prejudices against it.

395

Sag been respected, even among barbarians, on account of the scrupulous
punctuality and undeviating rectitude of the adventurous Yankee trader?
Without the impulse afforded by commerce, the sciences of astronomy
and navigation would have remained involved in the mists which for ages
overhung them. The first has, through its encouragement, been made to
disclose new wonders in the heavens ; and in aid of the last, by new
powers displayed in the magnetic needle, oceans have been explored,
which were once thought untraversable, and designed to cut off all inter­
course forever. Voyages, once of great risk and of long continuance,
across the Atlantic and Pacific, are now made trips of safety and pleasure,
performed in a few days or weeks in floating palaces, impelled by power
which sets the wind at defiance. Nor has man alone been benefitted.
Nations in their government relations, and in the entire pursuits and man­
ners of their people, have been entirely revolutionized, through the influ­
ence of the peaceful conquests of commerce. Through it, statesmen
have been silently forced to change systems of government, from systems
of war and conquest to those of the arts of peace. Commercial treaties
have proved stronger barriers than fortifications and cannon; and as con­
sequences, not only have the nations themselves become richer and more
powerful, but individuals have found their manners softened and refined,
and their comforts largely increased and cheapened, in proportion as their
intercourse with strangers has been extended, and their products and man­
ufactures exchanged. To the means of communicating quickly with
distant countries, thus the result of the extension of commerce, ai’e nations,
in times of calamity and famine, indebted for relief. The condition of
Ireland during the past few years, furnishes a satisfactory illustration;
when, from the full bosom of the new world, was poured out a stream,
without which millions would have miserably perished.
In regard to the wealth of commercial men, it would be unjust not to
say, that it is returned again generously into the community from which
originally drawn. The riches of the farmer are expended in investments,
which do not, and cannot, be so extensively beneficial. He becomes a
large land proprietor, and there he centres his capital. But the merchant
expends his in manufactures, internal improvements, railways, ships,
steamboats,—all receive his surplus, and in these a greater number are
benefitted than in the mere extension of a landed interest. Besides, the
largest donations ever made to educational establishments have been made
by merchants; and of public libraries, lyceum associations, and free
schools, they are almost the exclusive patrons. We do not mean by
this to assert that planters are never the. promoters of learning, or of
social benevolences; but only to assume, that from the vocation of mer­
chants, their residence in large cities, and the absence of other avenues,
their wealth more frequently take these directions.
Taking these things into consideration, we hope to see a more liberal
and enlightened enquiry indulged in with regard to the value of com­
mercial men. The writer, from long association, would naturally sym­
pathize with the planter ; but he feels this tribute due, not less to truth
and justice, than to a class of citizens who do more to establish a nation’s
prosperity, and to lay the foundation of her fame for honor, than any
other; who, without violence, are at once her strength and protection,
and who contribute more to the extension of the triumphs of liberty and
law, than all the military power ever displayed in war.




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Mercantile Biography:

Art. VI.— M E R C A N T I L E BIO G R A P H Y .
A SK ETCH OF T H E L IF E OF T H E HON. ASA CLAPP.
[W IT H

a p o r t r a i t .]

T h e subject of this memoir, the Hon. Asa Clapp, died at his residence
in Portland on the 17th of April, 1848, in the 86th year of his age. He
was born in Mansfield, Bristol county, Massachusetts, on the 15th of
March, 1762. He was the eldest son of Abiel Clapp, Esq., a farmer of
high respectability, and who filled what were then considered very im­
portant stations in the towns of New England, the offices of magistrate,
and the commander of the military company in that ancient municipality.
Being deprived of his parents at an early age, he was left entirely de­
pendent upon his own exertions for advancement. As an incipient indi­
cation of that ardent and daring spirit which characterized his whole
career, this patriotic orphan boy, when only in the sixteenth year of his
age, gallantly volunteered to act as a substitute for a young man who had
been drafted as a soldier in the expedition under General Sullivan, for the
expulsion of the British army from Rhode Island in 1778. He was im­
mediately appointed a non-commissioned officer, and remained in service
until the close of the campaign, when he went to Boston and commenced
the adventurous life of a mariner, in one of the numerous private armed
vessels which were fitted out in all the northern ports. After several
cruises he entered as third officer in a large letter of marque commanded
by Captain Dunn, in which, during three years, he made numerous suc­
cessful voyages, and in the last returned as the first officer. He was in
many desperate engagements, in one of which he was severely wounded.
He acquired such distinction by the intelligence, enterprize, and emi­
nent skill he had evinced as a navigator, that he obtained the command
of a ship at the conclusion of the Revolutionary war, when he had but just
reached the era of manhood.
He was at Port au Prince, in the Island of St. Domingo, when the
attack was made upon that city by the negroes ; and with Joseph Pea­
body, Esq., of Salem, then in the merchant service, rendered most essen­
tial aid to the white population, who were exposed to plunder and slaughter
during that horrible servile convulsion.
By many successful voyages, after becoming the owner of the vessel he
commanded, he was enabled to establish himself as a merchant at Port­
land in 1796, where he continued to be one of the most fortunate and
distinguished in Maine until a few years before his decease, when, from
indisposition it became necessary to relinquish his commercial business.
His navigation was so far extended, that he had vessels employed in
the trade with Europe, the East and West Indies, and South America.
There are but few persons in New England who have built so many
ships, and employed so many mariners, mechanics, and laborers in all the
numerous branches of maritime industry as Mr. Clapp, or who have
erected so many houses and stores, and done so much to promote the
interest and prosperity of Maine.
Before the separation of the State from Massachusetts, he was one of
the councillors of the united Commonwealth. Having been a strenuous
advocate'for the independence of Maine, he was elected one of the Dele­




A Sketch o f the L ife o f the Hon. Asa Clapp.

397

gates of the Convention, which was holden in October, 1819, for forming
the Constitution; and was conspicuous for the able manner in which he
participated in the laborious and highly responsible duties which were de­
volved on that important primary assembly of the people. He was for
several years a representative from Portland in the Legislature, and there
was not a member who was listened to with more profound attention, or
whose opinions upon all the various subjects that were presented for con­
sideration were more universally respected. As a faithful patriot he not
only aided the government by loans, at a period when it was the most
difficult to obtain them for a vigorous prosecution of the last war with
Great Britain in vindication of “ Free Trade and Sailors'1Rights,” but
was a volunteer soldier in a corps of the most venerated citizens of the
town, which was expressly organized for its defence against threatened
invasion by the fleet and army which had taken possession of the seacoast from the Penobscot to Eastport.
He possessed a capacious and energetic mind, which was cultivated bystudy, and a constant intercourse with the most intelligent and illustrious
gentlemen of all parts of the country. Mr. Clapp was ever the kind
patron of enterprizing young men, and when satisfied with their integrity,
he never hesitated to grant them liberal credits, without regard to their
immediate means of payment, on the sale of the great variety of mer­
chandise which he was constantly importing from all parts of the globe ;
and whenever there was experienced any of those disastrous revulsions
in the commercial Community which involve individual embarrassment,
he was among the very first of the creditors to offer liberal terms of ad­
justment to those who were unable to meet the accumulated demands
made upon them. His beneficence was expansive, and having acquired
a very large fortune, his means were ample for its gratification; and to
perpetuate his deep interest for the amelioration of the condition of the
unfortunate, he has left a fund of eight thousand dollars for the education
and relief of female orphan children, and four thousand dollars for furnish­
ing fuel to unfortunate widows and other poor women.
Such remarkable exemplifications of the salutary influence and great
advantages to be derived from activity of character, indomitable perse­
verance, rectitude of principle, and honorable deportment, are as instruct,
ive to the rising, as they were encouraging to the various generations
which have succeeded since he assumed a position worthy of their
imitation.
So perfectly did he retain the energies of his mind, and that moral
firmness for which he had been pre-eminently distinguished, that daily,
and up to within less than an hour of his decease, he attended to the
management of his vast property, with the same calmness and exactitude
as when in the full vigor of health, although entirely conscious that his
end was near.
As a Christian, he relied upon the promise of the Messiah, for that life
of heavenly immortality which he believed a merciful God was ever ready
to confer upon those who acknowledged his divine power, and sought sal­
vation with a contrite heart.
It is as true, as it is creditable to our glorious free institutions of government, that it matters not in what condition of society a man is born ;
for all the avenues to advancement, in wealth, letters, science, arts, and
in civil, military, and naval distinction, are equally open to the children of




398

Mercantile Biography.

the humblest, as well as those of the most affluent citizens of the republic ;
and most often is it from the sons of the former, that are to be found the
most celebrated physicians, divines, jurors, legislators, statesmen, philoso­
phers, generals and naval commanders, which have appeared in the
United States.
If wealth is the object most desired to be attained, they have the suc­
cessful examples of a Gerard and an Astor; if eloquence at the bar, or
in the halls of Congress, they have only to emulate a Patrick Henry,-g
Hamilton, a Wirt, a Webster, and a Clay; if military renown, let theiji
read the lives of Washington, Jackson, Scott, and Taylor; and if they are
ambitious to bear the thunders of their country in triumph round the globe,
they must follow in the refulgent wake of Preble, Hull, Decatur, Stewart,
Perry, and Macdonough, whose splendid victories emblazon the history
of the Union for their instruction.
The youthful should remember, that to be respected and honored, they
have only to avail themselves of those precious advantages which have
been so bounteously secured to them by their bold, enlightened, deter­
mined, and patriotic ancestors, in the establishment of this vast and flour­
ishing republic, where freedom of thought, speech, and action, give inde­
pendence and confidence to genius, and the vigor of hope to cheer on the
labors of enterprizing experiment.
Thus it is, that the eventful life of such self-taught and self-directed
men as was illustrated in the late venerated patriarch of Portland, is a
perpetual stimulant to that commendable ambition, which seeks to be wor­
thy of the respect of the good and the great through all succeeding ages.
Like him, they must fearlessly advance, for success never fails to crown
the honest efforts of untiring industiy.
On the 20th April last, the religious ceremonies at the funeral of the
late Honorable Asa Clapp were performed at his mansion-house in Congress-street.
There was an immense assemblage of relatives, friends and fellow
citizens ; among whom we noticed his sons-in-law, the Honorable Justice
Woodbury, of the Supreme Court of the United States, and Samuel R.
Brooks, of New York, and grandsons—John C. Holland, Esq., President
of the Worcester and Norwich Railroad, Horace Brooks, Esq., of New
York, and Charles L. Woodbury, Esq., of Boston, and General H. A. S.
Dearborn, Mayor of Roxbury, whose only daughter is the wife of Mr.
Clapp’s second son. A most appropriate and impressive prayer was made
by the Reverend Dr. Nichols, in which he eloquently alluded to the fact,
that the venerable man, whose death was so universally lamented, was
the oldest patriarch of the first church which was established in Portland ;
orul not only lived to witness the rise of this city from an humble village to
the affluent commercial emporium of Maine, but by his enterprize and
public spirit, had done as much as any other person to promote its pros­
perity.
The exalted estimation in which this excellent aged citizen was held
:by the whole community was strikingly evinced by the mournful suspen­
sion of the flags of all the vessels in the harbor, and on the signal staffs
of the Observatory, at half mast, and the vast concourse of people who
thronged the streets through which the large procession moved, to the
cemetery where his remains were entombed. There could be seen his
s.ged contemporaries, representatives of the adventurous storm-beaten offi­




Grace on D rafts at Sight.

399

cers and seamen of the fleets of navigation, of all the various branches of
mechanical industry, and of every other class of society.
Never has the death of any other person excited more deep and uni­
versal lamentation. It \yas like the solemn and emphatic expression of
grief in an immense household, for the loss of its venerated progenitor.

Art, TIL— G R A C E ON D R A F T S AT SIGHT.
F r e e m a n H u n t , E s q .—Sir :—The decision in Louisiana, mentioned
in your number for August, that bills of exchange at sight are entitled to
days of grace, seems to have called forth no little excitement in some
quarters. We are told in a tone of alarm that the business transactions
of New Orleans, amounting to some $100,000,000 annually, will be
seriously affected, if this decision be allowed as good law, and that confi­
dence in bills of exchange as a medium of transfer will be shaken.
There is certainly nothing very startling or novel in the decision itself.
What is most surprising is, that there should be so little that is definite in
the reports or text-books on the subject, and that what is briefly laid down
as law in the books, should vary from what is said to be the uniform
course in practice. But when we consider how comparatively modern
and new commercial law really is, the youngest and most vigorous branch
of modern jurisprudence, we find less room for surprise at the unsettled
state of the law on this and many other points.
It was actually not until 1791, that it was decided, in the case of Brown
vs. Harraden, (4 T . R., 148,) that promissory notes were entitled to any
grace at all.
As to the amount involved in the decision of this question, if we admit
the custom in the United States to be, as stated, to protest once only for
non-payment, on presentment and dishonor, we must remember, that
while the aggregate dealings through bills of exchange are very heavy,
the use of strictly sight drafts is not so very general, in comparison with
other descriptions of bills. To such drafts only, the question is confined.
All other bills, including those payable any length of time after sight, it
is not denied, are entitled to grace.
That this point is not a new one, will appear on reference to the au­
thorities. The earliest cases (such as they are) are Dekers vs. Harriot,
(1 Shower, 163,) and Coleman vs. Sayer, (1 Barnard, 303.) In Dekers vs.
Harriot, decided about 1690, the reporter states that sundry mercantile
points were referred to twenty merchants, who all agreed that, “ if there
were an acceptance, the protest must be at the day of payment; if at
sight, then at the third day o f grace. And that a bill negotiated after day
of payment was like a bill payable at sight.”
In the case in Barnardiston, {anno 1728,) which was an action against
the endorser of an inland bill, the point in dispute seems rather taken for
granted than decided, as if it were well settled at that time. The bill
was payable six days after sight; and one of the questions that “ fell out,
was whether the three days’ grace are allowable by the custom of Lon­
don as well where a bill is payable at certain days after sight, as where




400

Grace on D rafts at Sight.

it is payable upon sight.” To this question the Chief Justice said, “ That
days of grace are allowable in the one case as in the other.”
On the other hand, two of the earliest text writers on the subject take the
opposite ground. Beawes, in the Lex Mercatoria, says, “ that days of
grace are not allowable on sight drafts, although it would be otherwise if
payable one day after sight.” And Kyd lays it down, in like manner,
that “ bills payable at sight are to be paid without any days of grace.”
(Kyd on Bills, p. 10.)
We meet with no other case in the books, on this point, until we come
to Janson vs. Thomas, (3 Douglas, 421.) In that case, the defence to an
action on two bills at sight was, that they were not on stamped paper.
The stamp act did not require drafts on demand to be stamped, and the
plaintiff contended the terms “ on demand,” in the act, included sight
drafts also. The defendant urged, as a material distinction between the
two kinds, that bills at sight are entitled to three days’ grace, while bills
on demand are not. The plaintiff’s counsel admitted that on foreign bills
grace may be allowed, but not on inland. Lord Mansfield said he believed there was great doubt as to the usage about days of grace. Duller,
Justice, remarked that the point, although doubtful, was not n e w ; that
“ in a case before Willes, Ch. J., in 16 Geo. II., a special jury certified
that on bills at sight three days were allowed. I know that now they
differ about it in the city, but in general it is taken.”
The doctrine and practice seem thus to have become gradually tinsettled. In the next case, Dixon vs. Nuttall, (6 Carr and Paine, 320,
January, 1834,) the court inclines very decidedly to the early opinion.
The suit was on a note payable “ on demand” “ at sight.” The defence
was, that the maker had not been allowed three days’ grace. The judge
at nisi prius said, “ that if it had been at sight merely, the defendant
would have been right.” Afterwards, in term, judgment of nonsuit was
given by the court against plaintiff, and Baron Parke (a very able English
judge) said, “ the words ‘ on demand ’ may have the effect of estopping the
party from the benefit of the days of grace,” thus admitting his right to
them generally.
The later text writers all conform to this, the latest as well as earliest
doctrine on the subject.
Judge Story, in his book on Bills of Exchange, (§ 224,) says (citing
Chitty on Bills, ch. 9, pp. 406-409, Bayley, p. 244, Bell’s Commentaries,
Forbes on Bills, 142, Selwyn’s Nisi Prius, 339,) as to bills payable at
sight, “ there has been some diversity of opinion among the profession, as
well as among elementary writers. But the doctrine seems now well
established, both in England and America, that days of grace are allow,
able on bills and notes payable at sight.”
It will be seen that the cases cited are as much evidence of custom in
England, at least, as judicial authorities, and seem to establish the gen­
eral usage in favor of days of grace. Admitting, then, that in a case like
this, custom governs, and evidence as to custom is entirely admissible ;
and admitting that the custom, as between New York and New Orleans,
is as asserted, yet it is very questionable whether the usage of even two
such great cities is not too local and confined to affect a general rule
founded on more general custom, and whether, therefore, evidence as to
any such usage be admissible.
If the prevailing doctrine be not correct, the practical question arises,




The Draining o f the Everglades o f Florida.

401

What is the difference between bills at sight and bills on demand ? It
cannot be that a distinction without a difference exists, and that the same
thing is meant by both terms. The precise meaning attached to a bill on
demand seems to be, that it entitles the holder to payment on presentment;
and if a bill at sight means the same, why not call it by the same name ?
No argument against this view can be derived from the force or meaning
of the words used. At sight no more, in the strict meaning of language,
excludes days of grace, than “ twenty days after s i g h t y e t there is no
doubt that, on a bill payable any time after sight, grace is allowable.
This is not a question for reason or argument, but for authority and cus­
tom to decide ; and they seem to have decided it too well for further
doubt. “ The allowance of days of grace,” says Chief Justice Marshall,
in Bank of Washington vs. Triplett, (1 Peters, 31,) “ is a usage which per­
vades the whole commercial world. It is now universally understood to
enter into every bill or note of a mercantile character, and to form so com­
pletely a part of the contract, that the bills do not become due, in fact or in
law, on the day mentioned on its face, but on the last day of grace. A de­
mand of payment previous to that day will not authorize a protest, or charge
the drawer cf the bill.”
Yours truly,
D a v id R. J a q u e s .

Art. Till.— THE DRAINING OF THE EVERGLADES OF FLORIDA.
T h a t persevering and indefatigable Senator of Florida to Congress,
the Hon. James D. Westcott, Jr., has placed before that body a mass of
evidence showing the practicability of reclaiming some millions of acres
now covered with water to the depth of several feet and rendering them
available for agricultural purposes— even for the production of tropical
fruits.
It is estimated that this magnificent enterprize can be fully accomplished
for the trifling sum of half a million of dollars, and the State of Florida
purposes to undertake it as soon as the United States will relinquish its
title to these submerged lands.
The following brief extracts from the Report of the Senate’s Committee
on Public Lands on submitting a bill for the ceding of the Everglades, are
all we are enabled to present in this number : in a future one, we pro­
pose offering a more elaborate article, with copious extracts from this
interesting pamphlet:—
The region proposed to be granted to the State of Florida, to enable that State
to effect the desired improvement, is now nearly or quite valueless to the United
States; and will so remain, until reclaimed by draining it by means of canals.
More than six-sevenths of it is yet unsurveyed, and it is officially reported by the
Surveyor General of Florida, that “ it cannot he surveyed loithout first being
drained;” the correctness of which report is corroborated by all the evidence ad­
duced on the subject. The portion that has been surveyed, is also reported as be­
ing of little worth ; and that the fact that but one half section, out of 590,132 acres
that has been surveyed in sections, has been sold, fully proves the correctness of
such statement. The' suggested improvement, it is believed, may make some of
these surveyed lands saleable.
The cost of the proposed canals, it is estimated, will be about half a million of
dollars.
The propriety of the Federal Government undertaking this work, even if it
VOL. XIX.— NO. IV.




26

402

The Draining o f the Everglades o f Florida.

could do so with profit, is doubted by the committee. It is believed that the work
suggested can, for the reasons given in the documents appended to this report,
and the cogency of which must be conceded by every practical mind, be best un­
dertaken and completed by the State of Florida, or by associations of individuals
under its authority. The improvements can, in such case, be made to effect not
merely the draining of those now covered with water, but the enhancement of the
value and price of the other public lands, and also the promotion of important
local interests of that region in many respects, and at the same time the interests
of the Union generally, (beyond the pecuniary interest in these lands,) may be
advanced. The proposed canals being made channels of communication by ves­
sels across the Peninsula, from the Atlantic to the Gulf waters, thus avoiding the
perilous reefs further south, is a consideration of no trifling moment to the navi­
gating interests of the Union.
The bill referred to the committee provides for a grant to the State of Florida,
with such view of all the lands below a specified line of the public surveys, near
the northern end of Lake Okechobee, with certain reservations; and it contains
stipulations and conditions which (if the State accepts the grant with such con­
ditions) will, it is believed, insure the completion of the work as far as it can be
effected.
By the proposed improvement, if successfully carried out, it is believed the
United States will derive great immediate pecuniary benefit by the draining of
several hundred thousand acres, (outside of the boundary of the district proposed
to be granted to Florida.) being the bottom lands on the Kissjme River, and its
tributaries, now valueless by reason of their annual overflow. The committee
agree with the Commissioner of the Land Office, that this is a full consideration
for the grant made by the bill of the alternate sections of the surveyed lands below
the northern boundary of the proposed grant, even if no other existed.
The committee will not enlarge on other important results beneficial to the
whole Union, which may be anticipated, if the proposed work is successfully
carried out. They are fully set forth in the documents annexed to the report of
the Secretary of the Treasury, being the opinions of some of the most intelligent
citizens of the United States, and well qualified to judge correctly on such sub­
jects, and several of whom have personal knowledge of the region in question.
With a brief extract from the letter of the Commissioner of the Gen­
eral Land Office to the Secretary of the Treasury, we must close the
subject for the present.
That the name “ Everglades” designates that region of the peninsula of Florida
lying south of Lake Okechobee, and generally covered by water from two to
seven feet deep, at least for some months in every year.
It is estimated there are about one million of acres that are only occasionally
covered with water—that is, for some months during and after the rainy seasons
in each year; much of which, however, on the eastern and southern margins of
the Glades, are represented as valueless until the Glades are drained, in conse­
quence of such annual overflow, and of which, also, a considerable portion is not
anticipated will ever be made valuable by such draining.
The project of draining the Everglades, if successful, may, perhaps, reclaim
for cultivation, within the limits of the proposed grant to Florida, about a million
of acres of these lands, now covered with water; some continually, and the resi­
due occasionally only. It cannot be anticipated to reclaim but a part of the Ever­
glades, a part of the Atseenahoofa, or Big Cypress swamp, a part of the Halpatiokee swamp, and the skirt of poor lands on the margin of the Glades, covered
with water some months of every year, and which is very barren. Much of the
subaqueous lands will still remain inundated; and no one can expect that the
parts that are so drained can all be made susceptible of cultivation.




Mercantile Law Cases.

403

M E R C A N T I L E LAW CASES.
POINTS IN MERCANTILE LAW.
FROM II. BARBOUR’S CHANCERY REPORTS.*

M ercantile L a w claims, as usual, a large proportion of the seven hundred

pages of this substantial volume, the second of Barbour’s Chancery Reports, in
which are given Chancellor Walworth’s decisions from October, 1846, to Feb­
ruary, 1848. The first of this series was noticed in a previous number, (Vol. 17,
p. 392, October, 1847,) and it was there stated that three or four volumes more
would probably complete this, the last series of the old Chancery Reports, because
the Court of Chancery came to an end the preceding July, and all the powers of
the Chancellor to hear and decide pending suits were to cease in July, 1848.
The same sort of interest, therefore, attaches to this volume as to the volume of
Denio’s Supreme Court Reports, noticed in the August number of this Magazine,
being one of the last of a time honored tribe juridical, the Chancery Reports, a
series illustrated by the integrity and wisdom of Livingston, Kent’s vast range
of learning and clear style, and Walworth’s viginti annorum lucubrationes, learned
and acute.
And like the last of Denio’s Supreme Court Reports, this volume, as already re­
marked, contains many interesting points of Mercantile Law, touching, among
other topics, Bills of Exchange, Custom of Merchants, Limitation of Mercantile
Accounts, Partnership, Surety, Subrogation of Debts, and Trade-Marks.
Custom of Merchants at New York. In Moore vs. Des Arts, (p. 637,) the de­
fendant had imported a quantity of spelter, on which he paid a duty of 20 per
cent under the tariff of 1842, and which he afterwards sold to the complainants
at long price. By mercantile usage at New York, sale at long price gives the
vendor a right to have the goods sold, exported by the vendee in time to entitle
the seller to the drawback; or, in lieu of this right, the seller receives an ad­
ditional gum, equal to the amount of the duty, the buyer being at liberty to retain
the goods in the country, and this appears to have been the arrangement in the
present case. After the amount (including the duty) had been paid, the Secretary
of the Treasury decided that spelter or zinc was not subject to duty, being enu­
merated in the free list under the name of teutanague. The buyer claimed the
right to the duty to be refunded, but it was paid to the defendant. The Chan­
cellor decided that it was simply a case of paying for an article more than it was
worth; that the amount of the duty was simply an element of the value of the
article; and that, if there was any mistake on this point, it was not the seller’s
fault but the buyer’s misfortune, or perhaps his fault even, there being no allega­
tion that teutanague was not a proper word for the article intended, or was not
generally understood. Might not the payment of the amount of the duty be con­
sidered, under the usage, a distinct transaction from the sale of the spelter, and
treated as a case of payment by mistake, or of moneys received for plaintiff’s
benefit ?
Trade-Marks. Partridge vs. Menck (p. 101) re-affirms the doctrine laid down
in Taylor vs. Carpenter, relative to property in trade-marks, and the power of the
Court of Chancery to protect it by injunction. The doctrine is declared to rest
on the ground, not that one article is better than another, or even different from
it, but that a trade-mark, by becoming known to the public, acquired a value, and
became property like the good-will of a business. (See Taylor vs. Carpenter, 7
Law Reporter, 437, a decision by Judge Story ; and Coats vs. Holbrook, 2 Sandford’s Chancery Reports, p. 586.)
* Reports of cases argued and determined in the Court of Chancery of the State of
New York. By O l iv er L. B arbour , Counsellor at Law. Vol. II. New York: Banks,
Gould, & Co., No. 144 Nassau-street. Albany: Gould, Banks, & Gould. 1848.




404

Mercantile Law Cases.

Docket of Judgments. The elaborate case ofBuchan vs. Sumner, (pp. 165-207,)
decides two very important points. The first point is, that the recording and
docketting of a judgment are necessary, not, as before the Revised Statutes,
merely to give it priority and make it a lien as against subsequent purchasers and
mortgagees without actual notice, but even to give it any virtue or effect in any
way, as a lien or claim on real estate. In this case, therefore, two judgments
having been obtained against the same defendant by different plaintiffs at different
times, the first of which was incorrectly entered on the docket, through a mistake
of the County Clerk, under the Christian instead of the surname of the defendant,
while the second judgment was correctly docketted, it was held that the second,
though subsequent, had priority, the first not being in fact docketted within the
requisition of the act, and therefore no lien at all.
Partnership. The judgment which was thus declared inoperative as a lien,
had been obtained by one partner against another, for the amount which he had
paid in discharge of partnership debts on closing business beyond his proportionate
liability. The real estate against which it was intended to make it a lien, was
property of the partnership, or rather the defendant’s half of it. The Chancellor
decided that, although the first judgment was no lien upon the real estate, and
that although, as between the personal representatives and heirs at law of a
deceased partner, his share of the real estate of the partnership, after all the debts
of the firm have been paid, and the mutual accounts and claims of the partners
between themselves adjusted, is to be treated as real estate ; yet if the debts have
not been paid, or if one partner has paid more than his share, such real estate is
liable in equity as personalty for the discharge of those debts and the adjustment
of accounts between the partners, and that a claim of a partner, like the one in
this case, is equitably prior to a judgment for an individual debt of the other
partner.
Bills of Exchange. Deas vs. Harvey (p. 448) is to the point that the endorser
of a draft, who has arranged with the holder for the payment of it, or in any way
settled the holder’s claim against himself, may recover from the acceptor the full
amount of the draft, no matter what was the arrangement with the acceptor,
whether it consisted in merely giving security, or part payment, or a transfer of
the draft for a merely nominal consideration.
Limitation of Mercantile Accounts. Didier vs. Davison (p. 477) was a suit by
one firm against another for an account and settlement of claims of some twentyfive years’ standing. The defendants pleaded that the debt had been due more
than six years, and the complainants contended that the defendants had resided
out of the State; and also that the case came within the exception in the Statute
of Limitations, exempting dealings between merchants from its operation. The
court held that this exception does not apply to accounts, all the items of which
on both sides dated back more than six years before tire filing of the bill.
A difference between the operation of the Revised Statutes and the old Statute
of Limitations of 1801, is also pointed out. Under the present statute, if a debtor
leaves the State after the statute has begun to run, the time during ■which he re­
mains absent is to be deducted from the period limited. This was not the case
under the act of 1801.
We are glad to see in this, as in the first volume of Barbour’s Reports, the ex­
cellent practice continued of giving the arguments of counsel at some length,
and thus not only doing justice to an important class of officers of the court, (for
such they are, spite of constitutional or statutory changes,) and materially facili­
tating the understanding of the points at issue, but also securing from obscurity
many a fine argument and instructive legal disquisition, almost as valuable, ex­
cept as mere authority, as the official edict “ by the court” itself. Who, for in­
stance, is not glad to see recorded in this volume the beautiful, though unsuccess­
ful argument of George Wood, in the case of Meriam vs. Harsen ? (pp. 244-264,)
reminding one, by the way, of Romilly’s celebrated argument in a case somewhat
similar, Huguenin vs. Baseley, (14 Vesey, jr., 273.) In the American, as in the
English instance, posterity will, perhaps, be indebted to Law Reports for the best
evidence of an eminence otherwise merely traditional.




Commercial Chronicle and Review.

405

COMMERCIAL CHRONICLE AND REVIEW.
INFLUENCE OF EVENTS IN EUROPE ON COMMERCE— IMPORT OF BREADSTUFFS INTO GREAT BRITAIN—
PRICES OF GRAIN IN ENGLAND FROM

1845 TO 1848— LEADING

FEATURES OF TH E BANK OF ENGLAND—

DISCOUNTS OF TH E BANK OF ENGLAND FOUR LAST YEARS— STAGNANT STATE OF TRADE— EFFECTS ON
S PEC IE—INFLUENCE OF WAR ON COMMERCE— STATE OF TRADE IN TH E UNITED STATES— RECEIPTS
OF PRODUCE AT NEW ORLEANS— PRICES OF PRODUCE AT NEW ORLEANS— FOREIGN EXPORTS OF NEW
ORLEANS— CONDITION OF TH E SOUTH-W ESTERN BANKS, E TC ., ETC.

I t is now more than a year since untoward events in Europe have continued
to exert an adverse influence upon the state of commerce in general. With most
abundant natural wealth, the course of business in the United States has been
checked by reason of the want of prompt means of making the surplus exported
promptly applicable to the payment of goods purchased. The shock given to
individual credits, through the influence of events in England last year, disturbed
that confidence in exchange necessary to preserve for bills their character of an
international currency, and called specie into activity, while a large amount of
capital in produce remained in abeyance. The consequences of the bad harvest,
of 1846 were severely felt in the year 1847, and were scarcely ameliorated by the
abundance of that year. Those effects, heightened by the political revulsions of
Europe, have scarcely passed, when renewed deficits in the food grown upon the
British Islands, threaten a return of the events of last year. It is a singular fact,
that the import of foreign food into England last year was, from the commence­
ment of a good harvest up to the beginning of the present, larger than ever before;
and that the extraordinary quantities thus brought in aid of a good harvest, have
all been exhausted in the consumption of the Islands, leaving in bond but a nomi­
nal quantity with which to commence the new year of acknowledged deficit. The
imports into England for the twelve months ending with June, have been as
followr:—
IMPORT OF BREADSTUFFS INTO GREAT BRITAIN.

Wheat.
Oats.
Corn.
July, 1847, to Jan- Q rs .
Q rs.
Q rs.
uury, 1848............ 1,926,244 1,092,625 1,536,656
January, 1848, to
July,'1848 ...........
697,272 279,076
652,788

Other
grains.

Wheat
flour.

Indian
meal.

Other
meal.

Total in
grains.

Q rs.

C w t.

C w t.

C w t.

Q rs.

605,919 3,820,631 637,940 806,593 6,638,061
572,116

302,194 140,230 17,373 2,298,100

Total 12 mos... 2,623,516 1,371,701 2.189,444 1,178,035 4,122.825 778,176 823.966 8,936.161
“ 1847....... 1,059,233 1,208,573 2,556,910 1,448,135 3,784,520 862,866 74,900 7,443,981

The quantity remaining in bond after the large supply, is about equal to
108,000 quarters only. The difference between this and the amount in bond in
July, 1847, added to the quantity consumed, makes near 10,000,000 quarters of
grain purchased in aid of a good harvest. The prices of grain in England for
four years, have been as follow:—
PRICES OF GRAIN IN ENGLAND.

1845.

1846.

Wheat. Barley.
d.

s.

d.

W heat.
s.

1847.

Barley.

d. s.

d.

April 17...................... 45 11 31 11 55 10 3 0 5
“
24.................. 45 11 31
6 55 6 30
1
“ 30................................................................................
May 8...................... 46 0 31 2 56 5 29 8
«
15.................. 45 10 30
5 56 8 29
7




Wheat.
s.

d.

184S.

Barley.
s.

d.

Wheat. Barley.
s.

d.

s ■ d.

74 1 48 4 4 9 7 32 2
75 10 48 5 48 10 32 1
79 0 49 1 49 6 31 10
81 10 51 0 .......................
85 2 52 7 49 10 32 8

Commercial Chronicle and Review.

406

PRICES OP GRAIN IN ENGLAND— CONTINUED.

1845.

1846.

Wheat. Barley.

May 22............
“ 27......................
June 3......................
“ 10......................
“ 17......................
“ 24......................
July 1.....................
“ 8......................
« 15......................
“ 22......................
“ 29......................
Aug. 5 ......................
“ 12......................
“ 19......................
“ 26.....................
Sept. 2 .....................
“ 9 ......................
“ 16......................
“ 23.....................
“ 30......................

s.

d.

45
45
46
47
48
47
47
47
48
50
51
53
55
57
57
56
55
54
52
53

9
9
7
7
2
10
11
11
10
0
7
3
3
0
0
6
10
1
6
2

W heat.

1847.

Barley.

s.

d.

s.

d.

s.

30
30
39
30
30
29
29
29
29
29
29
29
29
29
29
30
31
31
30
30

0
1
5
2
3
9
7
10
0
6
2
8
7
4
9
0
8
0
9
2

57
55
53
52
52
51
52
52
52
50
49
47
45
45
45
47
48
50
51
53

0
5
4
10
0
5
2
10
3
10
11
5
2
1
11
10
4
1
3
1

29 4
28 10
29 4
27 8
27 1
27 3
27 4
27 6
27 7
27 10
37 3
26 11
26 9
27 3
27 5
29 1
30 1
33 4
36 1
36 10

d.

Wheat.

1848.

Barley.

Wheat. Barley,
s.

s.

d.

s.

94
102
99
88
91
91
87
82
74
75
75
77
75
66
62
60
56
51
49
53

10
5
10
10
7
4
1
3
0
6
6
3
5
10
6
4
8
4
6
6

55 10
56 5
55 3
52 0
52 1
52 4
51 11
48 8
46 11
45 8
45 8
45 3
43 11
40 9
38 11
37 9
36 3
33 1
32 1
31 10

d.

d.

s.

d.

48 4 32 7
47 8 32 8
48 1 31 8
47 8 31 7
46 10 30 10
........................
48 2 30 5
48 10 30 1
........................
49 1 29 0
48 11 30 2
47 11 29 5
49 5 29 11
50 11 30 1
51 0 30 3
52 3 31 2
........................
........................
........................
........................

These prices have been rising since July 29th, although they have ruled lower
during the past six months than for the same period in the previous four years,
and the consumption of food has, therefore, been enhanced, while the extended
expenditure of the railway companies has promoted the same end. Every element
of a most prosperous year existed, but for the breaking out of political troubles
upon the continent of Europe, which checked confidence, and cut off the market
for English exports. Hence, while the import of breadstuff's has been so exten­
sive, the means of paying for them have been small. The value of British ex­
ports for the year ending July 6th, has been £47,456,431, against £53,673,269
for the year ending with June, 1846, and £49,496,546 for the year ending with
June, 1847; showing a decline of £6,217,000, or $30,000,000 for the first year,
against an increased importation of breadstuff's of the value of £3,000,000 ; making
a difference of some £10,000,000 against England, with but little prospect, owing
to continued political disquiet, of a revival to any considerable extent of English
exports. The new year opens with the certainty that considerable imports will
again be required from some source, and as a consequence, that the effects upon
English finances will be great. The money market of London has, throughout
the spring, been easy—that is to say, money has been abundant at low rates,
rather because of the absence of demand for regular mercantile purposes, than
from superabundant supply. The railway demand has continued unabated, and
at the rate of £36,000,000 per annum. The state of affairs, as well in respect of
exchanges as of the mercantile demand for money, may be traced in the leading
features of the Bank of England, which have been as follow :—
BANK OF ENGLAND.

November 25
January 22..
February 5*.
“
26..
March 4.......
“ 11.......
“ 18.......

Securities.
Deposits.
Nett
Notes
Public.
Private.
Public.
Private.
circulation. on hund.
Bullion.
£10,863,007 £18,791,117 £7,219,802 £7,866,482 £19,297,756 £4,228,095 £10,016,957
11,464,665 14,510,363 4,082,448 10,774,870 19,111,880
7,447,385 13,176,812
11,588,914 13,833,592 4,574,063 10,299,027 19,135,955
8,074,925 14,021,754
11,574,921 12.933,241 6,417,011
9,550,889 18,179,755
9,922,185 14.760,815
11,574,921 13,115,456 6,574,785
9.249,804 18.375,615
9,830,215 14,873,927
11,574,921 12,954,702 6.883,063
9.525.211 17,681,020
10,544,595 14.947,164
11,572,180 12,896,563 6,957,392
9,773,110 17,447,090
10,967,270 15,123,141




407

Commercial Chronicle and Review.
BANK OF ENGLAND.

Securities.
Public.
Private.
April 1.........
11.721,566
12.936,289
“ 8.........
12,682,866
12,460,152
“ 22.........
12,268,630
12,001,566
“ 29.........
12,034,028
12,065,481
May 6........
11,713,630
11,835,962
“ 20.........
11,713,630
11,630,523
June 3.........
11,970,082
11,488,596
“ 17.........
12,089,172
11,148,869
“ 24.........
12,411,301
11,229,195
July 1.........
12,522,645
11,266,399
“ 8.........
13,602,546 11,255,427
14 15......... 13,207,546 11,200,140
“ 22.........
12,807,546
11,090,948
“ 29.....................................................
A u g u sts....
12,462,735 10,951,788
“ 1 2 ....
12,462,735 10,857,119
44 1 9 .... 12,462,735 10,862,959
44 2 6 .... 12,462,735 10,899,000

Deposits.
Public.
Private.
7,140,125
9,580,384
4,586,084 11,961,862
2,321,338 11,435,742
2,283,391 11,049,918
2,436,781 10,250,972
4,417,182
9,189,604
5,217,473
9,082,672
5,911,694
9,157,381
6,600,957
8,853,600
6,603,239
8,019,914
4,113,320 11,580,598
2,621,157 11,709,054
2,410,857 11,376,888
2,303,143 10,835,797
2,888,368
9,968,628
3,832,141
9,940,513
4,545.098
8,575,809
4,868,374
8,715,882

Nett
circulation.
17.667,865
18,834,651
18,761,865
18,603,075
18,621,800
18,095,400
17,779,405
17,377,495
17,528,935
17,581,085
18,360,865
19,145,060
19,040,720
18,951,771
18,692,115
18,165,725
18,313,335
18,118,880

Notes
on hand.
10,876,870
9,767,750
7,860,055
7,658,750
7,554,455
8,566,010
9,080,655
9,975,350
10,007,630
10,064,970
9,312,185
8,448,630
8,410,840
8,059,410
7,998,200
8,528,200
8,450,310
8,734,240

Bullion.
15,210,877
14,602,431
13,228,341
12,878,660
12,826,108
13,770.669
13,597,206
14,169,427
14,307,814
14,418,243
14,357,993
14,263,176
14,108,707
13,710,104
13,396,654
13,364,991
13,371,747
13,503,663

The bullion in bank does not materially vary in aggregate amount. There is,
however, a continued demand for silver for thq continent, while gold flows in.
Russia has sent some £500,000 in half imperials to London, and £100,000 to
Amsterdam. The silver in bank has fallen from £1,500,000 in July, to £775,147
in August, notwithstanding the large arrivals from America. It is observable
that the discounts of the bank, under the head of “ private securities,” remain at
a very low figure. For the month, of August, for several years, they have been
as follows:—
DISCOUNTS OF TEE BANK OF ENSLAND.

August, 1st
“
2d
“
3d
«
4th

week.............
“ ...............
“ ...............
“ ...............

1845.

1846.

1847.

£11,463,603
11,634,159
11,528,000
11,353,577

£13,948,578
13,848,421
13,012,824
12,395,437

£16,480,320
16,681,409
16,116,345
16,711,187

1848.
£10,951,788
10,857,119
10,862,959
10,899,000

The line of discounts is exceedingly low, indicating the stagnant condition of
trade in general. The pressure arising from failures last year increased, the
loans of the bank ran to a high figure in November, and these were gradually
settled without the creation of new obligations. The great difficulty whieh pre­
sents itself now, is the state of Europe. The supplies of breadstuffs in those
•countries on which England depends, are said to be fair, but the fear arising from
political causes prevents the purchase of goods in return. The desire to hoard
money, and economize expenditure, prevails always when peace is jeopardized.
'The moment that industry becomes paralyzed from auy cause, and trade stag­
nant—that is to say, the desire to interchange commodities, or the ability to do so
restricted, money, specie, becomes the general object of demand in all quarters.
That which is money in ordinary times, viz., the individual bills which follow mer­
chandise in its migration, is no longer such—specie alone becomes a medium of
payment or of purchase, and its value rises rapidly in all directions. The po­
litical events of the last six months in Europe, have wrought this change; and
■while the armies of all nations are mustering into marching columns, the war
ministers of all governments increasing their estimates and enlarging their out­
lays, adding F.ew regiments to large armies, and putting into activity the pro­
ducers of munitions of war, the swelling numbers of military idlers decrease the
producers of wealth, and multiply its consumers, enterprize perishes, confidence
disappears,, and all individuals compete with the military chests for specie as the




408

Commercial Chronicle and Review.

only safe form in which to preserve property from the convulsions attending a
state of general war. The confidence and buoyancy of a long peace are becom­
ing fast dissipated amidst the din of resounding arms; the marshalling of troops
succeeds the assembling at the exchange; and the activity of the warehouse is
transferred to the arsenals. In such a state of things, whether war actually re­
sults or not, money in all countries must become more valuable than goods, and
the precious metals rise as all prices fall. Superadded to this unpropitious state
of affairs is the loss of a large portion of the agricultural wealth of England, which
can be supplied from Europe only by paying out that money which has from po­
litical causes become more desirable than merchandise.
In the United States, these adverse circumstances do not present themselves.
While superabundant crops, and extended facilities for transportation, offer the
means of supplying on low terms all the wants of England, the disposition to
purchase goods, as far as ability to pay extends, prevails. The imports of mer­
chandise into the United States liaye certainly been less than last year, but the
importers and jobbers have been ‘cautious in their credits. The large business
of last year grew out of the fact, that the profits of the large mass of consumers,
who are agriculturists, were large, and their considerable sales at high prices
gave them means of buying, which are, by reason of reversed circumstances,
somewhat less reliable this year; and as the fall approached, bringing with it
great difficulty in collecting old debts, while the aspect of the export trade re­
mained unpropitious, dealers were less inclined to sell on credit. Later advices,
however, showing the wants of England to be large, and holding out hopes of
another year of extended sales, changed the aspect of the markets, and induced a
more liberal feeling as the fall trade progressed.
The export trade of the Union has, as compared with years prior to 1847, beeia
large, furnishing a medium of remittance as well for the internal as the external
trade. Under the statistical head will be found the returns in detail of the busi­
ness of New Orleans for the year ending August 31, 1848. In order to compare
the leading items, we have compiled the following table for a series of years:—
AGGREGATE VALUE OF RECEIPTS OF PRODUCE AT NEW ORLEANS FOR SEVERAL YEARS.

1843
1843

$45,716,045 I 1844
53,728,054 11845

$60,094,716 I 1846
57,199,122 | 1847

$77,193,464 I 1848
90,033,256 |

$79,779,151

These returns show the fact, that the value sent from the interior this year to>
New Orleans is larger than in any previous year. The average quantities and
prices of the leading articles have been as follow:—
Cotton.
B a le s.

1844...... . 910,854
1845...... . 979,238
1846...... . 1,053,633
1847...... . 740,669
1848....... . 1,213,805

Price.
$3 2 00
24 00
32 00
44 00
29 00

B a r r e ls .
Price.
Price.
502,507 !54 00
360,052 iSO 90
533,312
4 00
390,964 0 874
837,985 4 50
1,166,120 1 15
2,386,510 2 00 1,617,675 5 50
706,958 5 00
1,083,465 1 10

Pork.
B a r r e ls .

1844 ..................
1845 ..................
1846 .....................
1847 ..................
1848 ..................




Flour.

Corn.

S acks.

412,928
216,960
369,601
302,170
356,480

Sugar.
Price.

$6 50
10 00
8 00
12 00
8 50

H ogsheads.

140,316
200,000
186,650
140,000
240,000

La ;*d.
<$- tc s . Price
119,767 $11 Oft
60,078 16 Oft
107,639 16 Oft
117,077 23 00'
216,030 17 0ft

B & ls.

Tobacco.
Price.

$60
45
55
70
40

00
00
00
00
00

H ogsheads.

70,835
64,093
57,896
44,588
47,882

Pr.ce.

$40 0G
45 0G
45 0ft
55 Oft
55 (to

409

Commercial Chronicle and Review.

The quantities this year, it appears, are larger, and prices such as to swell the ag­
gregate value beyond former sums. Cotton, as an item, afforded last year a value
of $32,589,436 ; and this year, although the price per bale ranges but $29 against
$44, gives a value of $35,200,345. The same maybe said of sugar and lard.
As a whole, $80,000,000 in round numbers have been sent to New Orleans from
a region of country which, in 1841, sent but half that amount, affording an in­
stance of increase in national wealth almost unparalleled. The consumption of
manufactured and imported goods in those regions cannot be accurately esti­
mated, but it is probably not so large as last year. Although the quantity of pro­
duce received at New Orleans has been considerable, the events in Europe have
been such as to derange exchanges, and by preventing the prompt realization of
bills, to cause money to be high at New Orleans, as indicated in the difference
between sight and 60 days for bills on the North. The produce sent to New
Orleans becomes the basis of a large supply of internal and foreign bills, which
form the medium of payment at the North for the goods purchased by the South­
west, in the proportion indicated in the following table of the exports of New
Orleans for the fiscal year:—
EXPORTS FROM NEW ORLEANS FOR THE TEAR ENDING JUNE

30.

FOREIGN EXPORTS.

Quarter ending—

In American
vessels.

September 30............ $8,297,322
December 31.............
5,731,775
March 31.....................
7.372,330
June 30........................
6,240,142

In foreign
vessels.

Total
foreign.

$911,323
1,163,105
5,358,774
4,273,951

Coastwise.

Total.

$9,208,645 $3,745,771 $12,954,416
6,894,880 5,627,935 12,522,815
12,731,104 11,317,460 24,048,564
10,514,093 7,142,435 17,656,528

T otal....................... $27,641,569 $11,707,153 $39,348,722 $27,833,601 $67,182,323

In round numbers, $40,000,000 became the basis of foreign bills, and $28,000,000
in domestic. As the former bills were, to a considerable extent, sold at the North,
and the proceeds drawn against, the whole amount may be said to have been re­
produced in the shape of individual bills, purchased as a medium of payment for
northern goods, imported and domestic. It is remarkable that while the business
of New Orleans has thus swollen in amount, that the bank credits have been
very small. In the region of country embraced as Texas, Arkansas, Mississippi,
Illinois, Missouri, Kentucky, Tennessee, and Louisiana, which contributes its
produce to swell the aggregates of the above table, there are, in the four first
named States, no banks, and in the others, the credits are much curtailed from
what they were, as indicated in the following table:—
LEADING FEATURES OF THE SOUTH-WESTERN BANKS FOR JULY.
-LOANS.------------------ ,

Bank of Kentucky....................
Northern Bank of Kentucky..
Bank of Louisville...................
Bank of Tennessee.................
Planters’ Bank of Tennessee..
Bank of Missouri....................
Bank of Louisiana...................

.-----------------SPECIE.

1847.

1848.

1847.

1848.

$4,603,430
2,769,002
1,454,684
2,730,974
2,164,234
3,043,163
9,612,102

$4,150,804
3,444,360
1,479,779
2,161,748
1,742,881
2,281,712
9,237,552

$1,267,727
881,713
445,844
635,331
516.875
1,603,786
5,724,777

$1,380,529
937,665
477,992
642,858
317,169
2,445,741
7,590,655

Total.................................. $26,377,589 $24,498,837 $11,076,053 $13,792,639




Commercial Chronicle and Review.

410

LEADING FEATURES OF THE SOUTH-WESTERN BANKS FOR JULY— CONTINUED.
/----------- CIRCULATION.------------ \

Bank of Kentucky.....................
Northern Bank of Kentucky...
Bank of Louisville...................
Bank of Tennessee...................
Planters’ Bank of Tennessee..
Bank of Missouri.....................
Bank of Louisiana...................

1847.

1848.

$2,611,990
1,878,456
939,822
1,698,745
1,673,733
2,640,760
4,568,435

$2,395,492
1,978,243
833,250
1,251,736
756,402
2,119,590
3,963,689

/---------------DEPOSITS.---------------\

1847.
$627,876
701,372
161,380
245,801
318,612
1,218,529
8,120,230

1848.
$676,107
644,032
248,762
635,351
292,932
1,639,880
7,320,079

Total................................ . $16,011,941 $13,298,302 $11,395,800 $11,479,174

If we compare these aggregates with the total amount in the eight States named
for the year 1838, we shall have results as follow:—
Loans..............................................
Specie............................................
Circulation......................................
Deposits..........................................

1838.

1847.

1848.

$125,484,662
8,504,596
30,480,967
17,874,025

$26,377,589
11,076,053
16,011,941
11,395,800

$24,498,637
13,792,639
13,298,302
11,479,174

The value of the produce sent from all these States to New Orleans in 1847,
was $90,000,000, and the producers owed the banks for loans and advances
$26,377,589, or less than one-third of the amount of the bank debts. In 1838,
tire value sent to New Orleans was $35,000,000, and the producers owed the local
banks $125,484,662, or nearly four times the whole value of their products for
the year. These figures are important, inasmuch as they show the great im­
provement which the condition of the produce in the valley of the Mississippi has
undergone, and the strong position they are now in, notwithstanding the low price
of cotton during the past year. The aspect of the foreign markets is now such
as again to give a great stimulus to the farm produce of the Mississippi valley.
It is to be observed in the above table, that in all that prolific region, the quantity
of bank notes outstanding is less than the sum of the specie held by the institu­
tions ; and the prospect is, that exchanges will become healthy in event of con­
tinued peace in Europe. By healthy exchange is to be understood we mean such
a state as fluctuates at or about par. As long as the supply of bills nearly equals
the demand, the rate fluctuates from a fractional discount to a fractional premium,
and within the cost either of the import or export of specie, they are healthy. A
heavy fall in the bills which induces an import of specie, such as that which took
place in 1843, and again in 1847, is as injurious to the interests of general trade,
as such an advance as will cause an export of specie. In fact, when the cur­
rency is sound and the condition of trade healthy, the export of specie is not a
matter to be regretted, because, in such a case, it will not go unless there is a
redundancy, and the interests of commerce require it. It is only when a very
extended state of credits exists, by which the purchase and consumption of an
undue quantity of goods has been brought about, that the export of specie forci­
bly curtails those credits, and produces a fall in prices and values ruinous to those
who are holders of goods with any considerable amount of outstanding obliga­
tions. Such a state of affairs does not now exist. The quantity of specie in
the country is now extraordinarily large; the import of goods has been smaller
than last year, and the amount of circulating credits is limited. We stand,
therefore, comparatively free of debt at the close of the crop year, with the rates




Commercial Regulations.

411

of foreign bills 9J a 9J, or slightly in favor of this country, and with a margin of
H per cent before shipment of specie can regularly take place.
On the other hand, if we look carefully over the surface of the interior States,
we find the real wealth of the country prodigiously great. The leading crops,
sugar, rice, tobacco, cotton, wheat, and corn, all promise greater abundance than
perhaps has ever poured forth from the fertile soil of the American States. The
prospect is certainly that the money prices of all these articles, as well as of other
produce, will, at least, be no lower. The grand result, however, must be a very
considerable increase in the exports of the country, and as a necessary conse­
quence, the amount of bills running on New York will be very large. It be­
comes, then, very interesting to know what prices this produce may be expected
to command in the foreign markets. From present appearances, with the excep­
tion of flour and wheat, it is highly probable that the profits will be more remu­
nerative to shippers than was the case last year.

COMMERCIAL

REGULATIONS.

T R E A T Y OF COMMERCE AND NAVIGATION B E T W E E N TH E UN ITED
S T A T E S OF AM ERICA AND T H E KINGDOM OF HANOVER.
W h e r e a s the Grand Duke of Mecklenburg-Schwerin, under the authority o f the twelfth
article of the treaty of commerce and navigation between the United States of America
and the King of Hanover, bearing date the 10th day of June, one thousand eight hundred
and forty-six, has become a party to the said treaty, with certain modifications, by virtue
of a declaration of accession to the sam e; which was signed and duly exchanged at
Schwerin, on the 9th day of December, one thousand eight hundred and forty-seven, be­
tween A. Dudley Mann, special agent of the United States, and L. de Lutzow, President
of the Privy Council and First Minister of his Royal Highness the Grand Duke of Mecklenburg-Schwerin, on the part of their respective governments; which declaration is,
word for word, as follows:—
DECLARATION.

Whereas a treaty of commerce and navigation between the United States of America
and his Majesty the King of Hanover, was concluded at Hanover on the 10th day of
June, one thousand eight hundred and forty-six, by the plenipotentiaries of the contracting
parties, and was subsequently duly ratified on the part of both governments:
And whereas, by the terms of the twelfth article of the same, the United States agree
to extend all the advantages and privileges contained in the stipulations of the said treaty
to one or more of the other States of the Germanic Confederation which may wish to
accede to them by means of an official exchange of declarations, provided that such State
or States shall confer similar favors upon the United States to those conferred by the King­
dom of Hanover, and observe and be subject to the same conditions, stipulations and
obligations:
And whereas the government of his Royal Highness the Grand Duke of MecklenburgSchwerin has signified his desire to accede to the said treaty and to all the stipulations
and provisions therein contained, as far as the same are or may be applicable to the two
countries, and to become a party thereto, and has expressed its readiness to confer similar
favors upon the United States as an equivalent in all respects to those conferred by the
Kingdom of Hanover:
And whereas the government of the Grand-Duchy of Mecklenburg-Schwerin, in its
anxiety to avoid the possibility of a misconception hereafter of the nature and extent of
the favors differing essentially from those of Hanover, which it consents to bestow upon
the United States, as well as for its own faithful observance of all the provisions of the
said treaty, wishes the stipulations, conditions, and obligations imposed upon i t ; as also
those which rest upon the United States, as explicitly stated, word for word, in the Eng­
lish and German languages, as contained in the following articles:—




412

Commercial Regulations.

A rticle I. The high contracting parties agree that whatever kind of produce, manu­
facture, or merchandise of any foreign country can be, from time to time, lawfully im­
ported into the United States in their own vessels, may also be imported in the vessels of
the Grand-Duchy of Mecklenburg-Schwerin, and no higher or other duties upon the ton­
nage or cargo of the vessel shall be levied or collected whether the importation be made
in a vessel of the United States or in a vessel of Mecklenburg-Schwerin.
And in like manner, whatever kind of produce, manufacture, or merchandise of any
foreign country can be, from time to time, lawfully imported into the Grand-Duchy of
Mecklenburg-Schwerin, in its own vessels, may also be imported in vessels of the United
States, and no higher or other duties upon the tonnage or cargo of the vessel shall be
levied or collected, whether the importation be made in vessels of the one party or the
other.
Whatever may be lawfully exported or re-exported by one party in its own vessels to
any foreign country, may in like manner be exported or re-exported in the vessels of the
other. And the same duties, bounties, and drawbacks shall be collected and allowed,
whether such exportation or re-exportation be made in vessels of the one party or the
other.
Nor shall higher or other charges of any kind be imposed in the ports of one party on
vessels of the other than are or shall be payable in the same ports by national vessels.
A rticle II. The preceding article is not applicable to the coasting trade and naviga­
tion of the high contracting parties, which are respectively reserved by each exclusively
to its own subjects or citizens.
A rticle III. No priority or preference shall be given by either of the contracting
parties, nor by any company, corporation, or agent acting on their behalf, or under their
authority, in the purchase of any article of commerce lawfully imported, on account of, or
in reference to, the national character of the vessel, whether it be of the one party or of
the other, in which such article was imported.
A r t icle IV. The ancient and barbarous right to wrecks of the sea shall remain en­
tirely abolished with respect to the property belonging to the subjects or citizens of the
high contracting parties.
When any vessel of either party shall be wrecked, stranded, or otherwise damaged on
the coasts, or within the dominions of the other, their respective citizens or subjects shall
receive, as well for themselves as for their vessels and effects, the same assistance which
would be due to the inhabitants of the country where the accident happens.
They shall be liable to pay the same charges and dues of salvage as the said inhabit­
ants would be liable to pay in a like case.
If the operations of repair shall require that the whole or any part of the cargo be un­
loaded, they shall pay no duties of custom, charges or fees, on the part which they shall
reload and carry away, except such as are payable in the like case by national vessels.
It is nevertheless understood that if, whilst the vessel is under repair, the cargo shall be
unladen, and kept in a place of deposit destined to receive goods, the duties on which
have not been paid, the cargo shall be liable to the charges and fees lawfully due to the
keepers of such warehouses.
A rticle V. The privileges secured by the present treaty to the respective vessels of the
high contracting parties, shall only extend to such as are built within their respective terri­
tories, or lawfully condemned as prizes of war, or adjudged to be forfeited for a breach of
the municipal laws of either of the high contracting parties, and belonging wholly to their
subjects or citizens. It is further stipulated that vessels of the Grand-Duchy of Mecklen­
burg-Schwerin may select their crews from any of the States of the Germanic Confedera­
tion, provided that the master of each be a subject of the Grand-Duchy of MecklenburgSchwerin.
A rticle VI. No higher or other duties shall be imposed on the importation into the
United States of any articles the growth, produce, or manufacture of the Grand-Duchy of
Mecklenburg-Schwerin, or of its fisheries ; and no higher or other duties shall be imposed
on the importation into the Grand-Duchy of Mecklenburg-Schwerin of any articles the
growth, produce, and manufacture of the United States, and of their fisheries, than are or
shall be payable on the like articles, being the growth, produce, or manufacture of any
other foreign country, or of its fisheries.
No higher or other duties and charges shall be imposed in the United States on the ex­
portation of any articles to the Grand-Duchy of Mecklenburg-Schwerin, or in Mecklen­
burg-Schwerin on the exportation of any articles to the United States, than such as are or
shall be payable on the exportation of the like articles to any other foreign country.
No prohibition shall be imposed on the importation or exportation of any articles the
growth, produce, or manufacture of the Grand Duchy of Mecklenburg-Schwerin, or of its




Commercial Regulations.

413

fisheries, or of the United States, or of their fisheries, from or to the ports of said GrandDuchy, or of the said United States, which shall not equally extend to all other powers
and states.
A rticle VII. The high contracting parties engage mutually not to grant any particular
favor to other nations in respect of navigation and duties of customs, which shall not im­
mediately become common to the other party, who shall enjoy the same freely, if the con­
cession was freely made, or on allowing a compensation as near as possible, if the con­
cession was conditional.
A rticle VIII. In order to augment by all the means at its bestowal the commercial
relations between the United States and Germany, the Grand-Duchy of MecklenburgSchwerin agrees, subject to the reservation in article eleventh, to abolish the import duty
on raw cotton, and paddy, or rice in the husk, the produce of the United States; to levy
no higher import duty on leaves, stems, or strips of tobacco, imported in hogsheads or
casks, than one thaler and two schillings for one hundred pounds Hamburg weight, (equal
to seventy cents United States currency and weight;) to lay no higher import duty upon
rice imported in tierces, or half tierces, than twenty-five schillings for one hundred pounds
Hamburg weight, (equal to thirty-seven and a half cents United States currency and
weight;) to lay no higher duty upon whale oil, imported in casks or barrels, than twelve
and a half schillings per hundred pounds Hamburg weight, (equal to eighteen and threequarters cents United States currency and weight.)
The Grand-Duchy of Mecklenburg-Schwerin further agrees to levy no higher transit
duty on the aforementioned articles in their movement on the Berlin-Hamburg Railroad
than two schillings per hundred pounds Hamburg weight, (equal to three cents United
States currency and weight,) and to levy no transit duty on the above mentioned articles
when conveyed through the ports of the country.
It is understood, however, that nothing herein contained shall prohibit the levying of a
duty sufficient for control, which in no instance shall exceed, on the two articles imported
duty free, or those on transit, one schilling per hundred pounds Hamburg weight, (equal
to one cent and a half United States currency and weight.)
A rticle IX. The high contracting parties grant to each other the liberty of having,
each in the ports of the other, consuls, vice consuls, commercial agents, and vice com­
mercial agents of their own appointment, who shall enjoy the same privileges and powers
ns those of the most favored nations; but if any of the said consuls shall carry on trade,
they shall be subjected to the same laws and usages to which private individuals of their
nation are subjected in the same place.
The consuls, vice consuls, commercial, and vice commercial agents, shall have the right,
as such, to sit as judges and arbitrators in such differences as may arise between the mas­
ters and crews of the vessel belonging to the nation whose interests are committed to their
charge, without the interference of the local authorities, unless the conduct of the crews or
of the captain should disturb the order or tranquillity of the country; or the said consuls,
vice consuls, commercial agents, or vice commercial agents, should require their assistance
to cause their decisions to be carried into effect or supported.
It is, however, understood that this species of judgment or arbitration shall not deprive
the contending parties of the right they have to resort, on their return, to the judicial au­
thority of their own country.
The said consuls, vice consuls, commercial agents, and vice commercial agents, are
authorized to require the assistance of the local authorities, for the search, arrest, and im­
prisonment of the deserters from the ships-of-war and merchant vessels of their country.
For this purpose they shall apply to the competent tribunals, judges, and officers, and shall,
in writing, demand said deserters, proving by the exhibition of the registers of the vessels,
the muster-rolls of the crews, or by any other official documents, that such individuals
formed part of the crews; and on this claim being thus substantiated, the surrender shail
not be refused.
Such deserters, when arrested, shall be placed at the disposal of the said consuls, vice
consuls, commercial agents, or vice commercial agents, and may be confined in the public
prisons, at the request and cost of those who shall claim them, in order to be sent to the
vessels to which they belong, or to others of the same country. But if not sent back within
three months from the day of their arrest, they shall be set at liberty, and shall not be
again arrested for the same cause. However, if the deserter shall be found to have com­
mitted any crime or offence, his surrender may be delayed until the tribunal before which
his case shall be pending shall have pronounced his sentence, and such sentence shall have
been carried into effect.
A rticle X. The subjects and citizens of the high contracting parties shall be permitted
to sojourn and reside in all parts whatsoever of the said territories, in order to attend to
their affairs, and also to hire and occupy houses and warehouses for the purpose of their




414

Commercial Regulations.

commerce, provided they submit to the laws, as well 'general as special, relative to the
right of residing and trading.
Whilst they conform to the laws and regulations in force, they shall be at liberty to
manage themselves their own business in all the territories subject to the jurisdiction of
each party, as well in respect to the consignment and sale of their goods by wholesale or
retail, as with respect to the loading, unloading, and sending off their ships, or to employ
such agents and brokers as they may deem proper, they being in all these cases to be
treated as the citizens or subjects of the country in which they reside, it being nevertheless
understood that they shall remain subject to the said law’s and regulations also in respect
to sales by wholesale or retail.
They shall have free access to the tribunals of justice, in their litigious affairs, pn the
same terms which are granted by the law and usage of country to native citizens or sub­
jects, for which purpose they may employ in defence of their rights such advocates, attor­
neys, and other agents as they may judge proper.
The citizens or subjects of each party shall have power to dispose of their personal
property within the jurisdiction of the other, by sale, donation, testament, or otherwise.
Their personal representatives, being citizens or subjects of the other contracting party,
shall succeed to their said personal property, whether by testament or ah intestato. They
may take possession thereof, either by themselves or by others acting for them, at their
will, and dispose of the same, paying such duty only as the inhabitants of the country
wherein the said personal property is situated, shall be subject to pay in like cases. In
case of the absence of the personal representatives, the same care shall be taken of the
said property as would be taken of a property of a native in like case, until the lawful
owner may take measures for receiving it.
If any question should arise among several claimants to which of them the said property
belongs, the same shall be finally decided by the laws and judges of the country wherein
it is situated.
Where, on the decease of any person holding real estate within the territories of one
party, such real estate would, by the laws of the land, descend on a citizen or subject of
the other, were he not disqualified by alienage, such citizen or subject shall be allowed a
reasonable time to sell the same, and to withdraw the proceeds without molestation, and
exempt from all duties of detraction on the part of the government of the respective States.
The capitals and effects which the citizens or subjects of the respective parties, in
changing their residence, shall be desirous of removing from the place of their domicil,
shall likewise be exempt from all duties of detraction or emigration on the part of their
respective governments.
A rticle XI. The present treaty shall continue in force until the 10th of June, one
thousand eight hundred and fifty-eight, and further, until the end of twelve months after
the government of Mecklenburg-Schwerin on the one part, or that of the United States on
the other part, shall have given notice of its intention of terminating the same ; but upon
the condition hereby expressly stipulated and agreed, that if the Grand-Duchy of Meck­
lenburg-Schwerin shall deem it expedient, or find it compulsory, during the said term to
levy a duty on paddy, or rice in the husk, or augment the duties upon leaves, strips, or
stems of tobacco, on whale-oil and rice mentioned in Article VIII. (eighth) of the present
treaty, the government of Mecklenburg-Schwerin shall give notice of one year to the
government of the United States, before proceeding to do so ; and, at the expiration of
that year, or any time subsequently, the government of the United States shall have full
power and right to abrogate the present treaty, by giving a previous notice of six months
to the government of Mecklenburg-Schwerin, or to continue it (at its option) in full force,
until the operation thereof shall have been arrested in the manner first specified in the
present article.
Now, therefore, the undersigned, L. de Lutzow, President of the Privy Council, and
first minister of his Royal Highness, on the part of Mecklenburg-Schwerin, and A. Dudley
Mann, special agent on the part of the United States, invested with full powers to this
effect, found in good and due form, have this day signed in triplicate, and have exchanged
this declaration. The effect of this agreement is hereby declared to be to establish the
aforesaid treaty between the high parties to this declaration, as fully and perfectly, to all
intents and purposes, as if all the provisions therein contained, in the manner as they are
above explicitly stated, had been agreed to in a separate treaty, concluded and ratified be­
tween them in the ordinary form.
In witness whereof, the above named plenipotentiaries have hereto affixed their names
and seals.
Done at Schwerin, this 9th (ninth) day of December, 1847.
A. D udley M ann . [ l . s .]
L. of L utzow .
[ l . s .]




Commercial Regulations.

415

And, whereas the said declaration of accession has been duly ratified on both parts :
Now, therefore, be it known, that I, J ames K . P olk , President of the United States of
America, have caused the said declaration to be made public, to the end that the same,
and every clause and article thereof, may be observed and fulfilled with good faith by the
United States and the citizens thereof.
In witness whereof, I have hereunto set my hand and caused the seal of the United
States to be affixed.
Done at the city of Washington, this second day of August, in the year of our Lord
r
-I one thousand eight hundred and forty-eight, and of the independence of the United
1 ’ *■* States of America the seventy-third.
B y th e P re s id e n t:
J ames B uchanan, Secretary o f State .

J ames K . P olk.

REGULATION OF T ELEG RA PH COMPANIES IN N E W YORK.
The following law, providing for the incorporation and regulation of telegraph compa­
nies, passed the Legislature of New York State April 12,1848, and, being duly approved
by the governor, is now in force.
AN ACT TO PROVIDE FOR THE INCORPORATION AND REGULATION OF TELEGRAPH COMPANIES.

Sec. 1. Any number of persons may associate for the purpose of constructing a line of
wires of telegraph through this State, or from and to any point within this State, upon
such terms and conditions, and subject to the liabilities prescribed in this act.
Sec. 2. Such persons, under their hands and seal, shall make a certificate which shall
specify—
1st. The name assumed to distinguish such association, and to be used in its dealings,
and by which it may sue and be sued.
2d. The general route of the line of telegraph, designating the points to be connected.
3d. The capital stock of such association, and the number of shares into which the
stock shall be divided.
4th. The names and places of residence of the shareholders, and the number of shares
held by each of them respectively.
5th. The period at which such association shall commence and terminate ; which cer­
tificate shall be proved or acknowledged, and recorded in the office of the Clerk of the
County where any office of such association shall be established, and a copy thereof filed
in the office of the Secretary of the State. Such acknowledgment may be taken by any
officer authorized to take the acknowledgment of deeds of real estate, at the place where
such acknowledgment is taken.
Sec. 3. Upon complying with the provisions of the last preceding section, such associa­
tion shall be, and hereby is declared to be a body corporate, by the name so as aforesaid
to be designated in said certificate; and a copy of said certificate duly certified by the
Clerk of the County where the same is filed and recorded, or by the Secretary of State,
may be used as evidence in all courts and places, for and against any such association.
Sec. 4. Such association shall have power to purchase, receive and hold, and convey
such real estate, and such only, as may be necessary for the convenient transaction of the
business, and for effectually carrying on the operations of such association, and may ap­
point such directors, officers, and agents, and make such prudential rules, regulations, and
by-laws, as may be necessary in the transaction of their business, not inconsistent with
the laws of this State, or of the United States.
Sec. 5. Such association is authorized to construct lines of telegraph along and upon
any of the public roads and highways, or across any of the waters within the limits of
this State, by the erection of the necessary fixtures, including posts, piers or abutments,
for sustaining the cords or wires of such lines; provided the same shall not be so con­
structed as to incommode the public use of said roads or highway, or injuriously interrupt
the navigation of said waters ; nor shall this act be so construed as to authorize the con­
struction of any bridge across any of the waters of this State.
Sec. 6. If any person, over whose lands said lines shall pass, upon which said posts,
piers or abutments shall be placed, shall consider himself aggrieved or damaged thereby,
it shall fc$>the duty of the County Court of the County within which said lands are, on
the application of such persons, and on notice to said association (to be served on the pres­
ident or any director) to appoint five discreet and disinterested persons as commissioners,
who shall severally take an oath, before any person authorized to administer oaths, faith­
fully and impartially to perform the duties required of them by this act. And it shall be




416

Commercial Regulations.

the duty of said commissioners, or a majority of them, to make a just and equitable ap­
praisal of all the loss or damage sustained by said applicant, by reason of said lines, posts,
piers or abutments; duplicates of which said appraisement shall be reduced to writing and
signed by said commissioners, or a majority of them ; one copy shall be delivered to the
applicant, and the other to the president, or any director or officer of said association or
corporation, on demand; and in case any damage shall be adjudged to said applicant, the
association or corporation shall pay the amount thereof, with costs of said appraisal, said
costs to be liquidated and ascertained in said award ; and said commissioners shall receive
ibr their services, two dollars for each day they are actually employed in making said ap­
praisement.
Sec. 7. Any person who shall unlawfully and intentionally injure, molest, or destroy
any of said lines, posts, piers or abutments, or the materials or property belonging there­
to, shall, on conviction thereof, be deemed guilty of a misdemeanor, and be punished by
a fine not exceeding five hundred dollars, or imprisonment in the County jail not ex­
ceeding one year, or both, at the discretion of the court before which the conviction shall
be had.
Sec. 8. It shall be lawful for any association of persons organized under this act, by
their articles of association, to provide for an increase of their capital, and of the number
of the association.
Sec. 9. Any association or company now organized and using Morse’s Telegraph, may
organize as a corporation under this act, on filing in the office of the Secretary of State
a resolution of its board of directors, signed and certified by the officers of the company,
of its desire so to organize, and upon publishing notices to this effect in some one news­
paper in the city of New York, and the city of Buffalo, and the city of Albany, three
months previous to such organization, provided that two-fifths of the owners of the stock
of said company or association do not dissent therefrom ; provided that any stock or share­
holder in any such association or company, may, on giving thirty days’ notice to the offi­
cers or any of them of such association or company, at any time before such organization,
refuse to go into such organization, and thereupon such stock or shareholder shall be en­
titled to receive from such association or company the full value of his shares or stock in
such association or company.
Sec. 10. The stockholders of every association organized in pursuance of this act, shall
be jointly and severally personally liable for the payment of all debts and demands against
such association, which shall be contracted or which shall be or shall become due during
the time of their holding such stock, but such liability of any stockholder shall not exceed
twenty-five per cent in amount, the amount of stock held by him ; and no stockholder
shall be proceeded against for the collection of any debt or demand against such associa­
tion, until judgment thereon shall have been obtained against the association, and an exe­
cution on such judgment shall have been returned unsatisfied in whole or in part, or unless
such association shall be dissolved.
Sec. 11. It shall be the duty of the owner or the association owning any telegraph line,
doing business within this State, to receive despatches from and for other telegraph lines
and associations, and from and for any individual, and on payment of their usual charges
for individuals for transmitting despatches, as established by the rules and regulations of
such telegraph line, to transmit the same with impartiality and good faith, under the pen­
alty of one hundred dollars for every neglect or refusal so to do, to be recovered with
costs of suit in the name and for the benefit of the person or persons sending or desiring
to send such despatch.
Sec. 12. It shall likewise be the duty of every such owner or association, to transmit
all despatches in the order in which they are received, under the like penalty of one hun­
dred dollars, to be recovered with costs of suit by the person or persons whose despatch
is postponed out of its order, as herein prescribed ; provided, however, that arrangements
may be made with the proprietors or publishers of newspapers, for the transmission for
the purpose of publication of intelligence of general and public interest, out of its regular
order.
Sec. 13. This act shall take effect immediately.
N E W DU TIES ON SPIRITS IN ENGLAND.
The act of Parliament to alter the duties payable upon the importation o®[)irits or
strong waters, 11 and 12 Viet., cap. 60, came into force on the 14th ult. The duties now
levied, are as follows:—If imported from any British possession in America into Eng­
land, 8s. 2d. the gallon; into Scotland, 4 s.; and into Ireland, 33. Rum, the produce of
any British possession within the limits of the East India Company’s charter, not being




Commercial Statistics.

'

417

sweetened spirits, or spirits so mixed as aforesaid, in regard to which the conditions of the
act of the fourth year of the reign of Queen Victoria, cap. 8 , have, or shall be fulfilled. If
imported into England, the same duties as already mentioned, and the like duties on rum
shrub, however sweetened, the produce of, and imported from, such possessions, in regard
to which the conditions of the recited act have or shall have been fulfilled; or the produce
of, and imported from, any British possession in America.

COMMERCI AL

STATISTICS.

COTTON CROP OF T H E UN ITED ST A T E S.
STATEMENT AND TOTAL AMOUNT FOR THE YEAR ENDING 3 l S T AUGUST, 1 8 4 8 .

1817.

1818.

Bales.

Receipts at

Bales.

New Orleans.......
Mobile....... .........
Florida....... .........

1,190,733
436,338
153,776
39,742
254,825

Georgia........ ........

1848.

Receipts at

1847.

Bales.

795,979 South Carolina.,..
323,462 North Carolina....
127,852 Virginia..............
8,317
Total crop.........
242,789

Bales.

261,752
1,518
8,952

359,200
6,061
13,991

2,347,634

1,778,651

Total crop of 1848, as above......
Crop of last year.....
Crop of year before.

2,347,634
1,778,651
2,100,537

Increase over last year........
*<
y ear before....

568,983
247,097

EXPORT OF COTTON TO FOREIGN PORTS FROM SEPTEMBER

To Great
Britain.

From

To France.

1, 1847,

To north of
Enrope.

TO AUGUST

31, 1848.

Other
foreign ports.

B a le s.

B a le s.

B a le s.

B a le s.

New Orleans..................
Mobile...............................
Florida..............................

654,083
228,179
42,376

140,968
61,832

104,751
12,917
3,730

Georgia.............................
South Carolina.................

121,172
153,090

5,177
29,579

50,056
16,153
1,732
772
424
11,390

Virginia............................
Baltimore......... ................
Philadelphia.................... .
New York......................
Boston...............................

268
60
3,375
116,061
5,601

254

34

37,992
1,412

.37,541
2,026

80
6,650
540

556
60
3,455
198,244
9,579

Grand total.............. .
Total last year____

1,324,265
830,909

279,172
241,486

120,348
75,689

134,476
93,138

1,858,261
1,241,222

493,356

37,686

44,659

41,338

617,039

Total crop of
1 8 4 2 -3 ..............
1 8 4 3 -4 ..............
1844-5 ..............
1845-6 ..............
1846-7..............
1847-8..............

2,378,875
2,030,409
2,394.503
2,100,537
1,778,651
2,347,634

Increase..................

2,212

987
4,787

949,858
319,081
50,050
772
127,760
198,846

GROWTn OF COTTON IN THE UNITED STATES.

Bales.
Total crop of
857,744
1828 9 ..............
1829 3 0 ............
976,845
1830 1 .............. 1,038,848
1831-2 ..............
987,477
1 8 3 2 -3 .............. 1,070,438
1 S 3 3 -4 .............. 1,205,394
1 8 3 4 -5 .............. 1,254,328
VOL. XIX.—-NO. IV.




Total crop of
1835 6 .......... .
1836-7 .......... .
1837-8 .......... .
1833-9 .......... .
1839 40 ......... ..
1 8 4 0 -1 .......... .
1811-2............
27

Bales.
1,360,725
1,422,930
1,801,497
1,360,532
2,177,835
1,634,945

Commercial Statistics.

418

CONSUMPTION OF COTTON.

Total crop of the United States, as above stated.................................... bales
Add—Stocks on hand at the commencement of the year, 1st
September, 1847:—
In the Southern ports........................................................
104,928
In the Northern ports.................................................. /...
109,909
---------

2,347,634

Makes a supply of...........................................................................
Deduct therefrom—The exports to foreign ports.
1,858,261
Less, foreign included..........
372
1,857,889
Stocks on hand, 1st September, 1848
In the Southern ports...................................
113,471
In the Northern ports..................................
57,997
171,468
Burnt at Charleston...................................................
1,392
---------

2,562,471

Taken for home use................................................................................

214,837

2,030,749
531,772

QUANTITY CONSUMED BY , AND IN THE HANDS OF MANUFACTURERS.

Bales.
1847 8 .........
1846-7..........
1845 6.........
18 4 4 -5 ..........
1843 4..........
1842 3 ..........
1841 2 .........

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

531,772 1840-1............
1839-40......... ....
422,597 1838-9............ . . . .
389,006 4 8 3 7 - 8 ............ . . . .
346,744 1836-7............ . . . .
325,129 1835 6 ............ . . . .
267,850 1834-5............ . . . .

Hales.

295,193
276018
246,063
222^540
236,733
218,888

Bales.

1833-4............ . . . .
1S 32-3.......... . . . .
J8 31-2............ . . . .
1830-1............ . . . .
1829-30......... . . . .
1828-9............ . . . .

196,413
194,412
173,800
182,142
126,512
118,853

Our estimate in this statement of the quantity taken for consumption in the cotton growing States, does not include any cotton manufactured in the States south and west
of Virginia, but it cannot have escaped observation that the consumption at the South and
West is gradually increasing, and it seems proper in making up an account of the produc­
tion of the country, that some notice should be taken of it. The following estimate, from
a judicious and careful observer at the South, of the quantity so consumed, (and not in*
eluded in the receipts at all,) may not be devoid of interest. Thus, in—
North Carolina.............................................. , ..............................bales
South Carolina.................................................................
Georgia...................................................................................................
Alabama.................................................................................................

15,500
6,000
6,000
5,000

------

32,500

12,500
12,500
5,000
------Missouri, Tennessee, Indiana, Illinois, & c...............................« ...

30,000
12,500

Sent up the western rivers and consumed, say—
Received at Cincinnati.........................................................................
“
Pittsburgh and Wheeling................................................
44
Kentucky.................................................................
*

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

75,000

To which may be added the quantity burnt in the interior, and that lost on its way to mar­
ket; these, added to the crop as given above, received at the shipping porta, will show very
nearly the amount raised in the United States the past season.
The quantity of new cotton received at the shipping ports up to the 1st inst. amounted
to about 3,000 bales against 1,121 bales last year.
The shipments given in the above statement from Texas are those by sea only; a con­
siderable portion of the crop of that State finds its way to market via Red River, and i*
included in the receipts at New Orleans.
The receipts at Philadelphia and Baltimore overland from the West this season were
1,479 bales against 1,828 bales last year.— Shipping and Com. L ist.




419

Commercial Statistics,
EXPORT TRA D E O F N EW ORLEANS.

We have usually compiled from the annual statement of the N ew Orleans Price Current, and published in our Magazine annually, in October, the full and complete statistics
of the trade and commerce of that city for the years commencing on the 1st of Septem­
ber and ending on the 31st of August. The tables furnished by the Price Current we are
induced to omit this month, with a view of embodying them in an article designed for
our series of papers on the “ Commercial Cities and Towns of the United States,” which
we shall endeavor to lay before the readers of the Merchants’ Magazine in our next (No­
vember) monthly issue. In the meantime we have concluded to publish the subjoined
tables of the domestic export trade of New Orleans, as derived from the annual statement
of the New Orleans Commercial Times. In summing up the trade of that city for the
year just closed, the Times submits the following tables, showing the transactions of
each month in the leading articles delivered in market, in addition to the usual statistics
furnished by that journal. This condensed view will, no doubt, be most acceptable and
satisfactory to business men. As the depot of an immense, fertile, aud expanding region,
New Orleans sends off in value more than half the produce exported from the Union.
The articles enumerated are from the cotton, sugar, and provision States, which find sale
and supplies in that Emporium of Commerce. The price of cotton quoted to each month,
is for middling fair qualities, which perhaps better represent the average than any other
class. The Times has not pursued the fluctuations of the market in the other articles, but
has valued them at fair rates, avoiding excess—tobacco at $50 per hhd.; whiskey, $ 8 per
bbl.; lead, $ 2 50 per pig; sugar, $50 per hhd.; molasses, $ 8 per bbl.; flour, $ 5 per
bbl.; corn, 40 cents per bushel, or 90 cents per sack of
bushels; pork, $10 per bbl.;
bacon, $50 per hhd.; lard, $3 per k e g ; and beef, $ 8 per bbl.—twelve in all—the pro­
ceeds of which, as shown by table No. 5, amount to $60,000,000.
TABLE 1 .— RECEIPTS, EXPORTS, VALUE, AND STOCKS OF COTTON AT NEW ORLEANS, IN MONTHLY
PERIODS, FOR 1847-48.

Months.

Receipts.
B a le s.

September..................
October...................... ..........
November.................. ..........
December......... .........
January........ .............
February.....................
March...................................
April..........................
M ay............................ .........
June............................
Julv.............................
August....................... ..........
TABLE

2.— EXPORTS

Months.

109,973
103,201

188,897
78,664
33,504

Exports.
B a le s .

24,835
40,058
68,955
109,529
113,450
135,255
187,437
162,766
157,124
84,289
89,555
50,885

Price. Val. of Exports.
C e n ts .

D o lla r s .

n i

1,213,808
1,808,617
2,270,687
3,374,862
3,883,394
4,302,799
5,866,677
4,928,557
4,006,662
2,418,040
2,569,109
1,279,757

103

7|
7i
7*
71
7}
74
6
6j
6}
6|

AND TALDE OF TOBACCO, WHISKEY, AND LEAD, AT NEW ORLEANS,

Tobacco.

Value.

Whiskey.

Value.

H /id s .

D o lla r s .

B b ls .

D o lla r s .

13,304
2,324
1,269
8,116
788
1,602
2,399
3,426
3,284
6,494
8,678
10,095

615,200
116,200
63,450
405.800
39,400
80,100
119,950
171,300
194,200
324,700
433,900
504,750

3,251
3,133
8,535
9,469
6,530
6,443
8,977
8,433
6,663
4,034
1,582
1,318

September..............
October..................
November..............
December..............
January.................
February ...............
March....................
April......................
May........................
June.......................
Ju ly ........................
August......... .........




26,008
25,064
63,280
75,752
52,240
51,544
71,816
67,464
53,304
32,272
12,656
10,544

Lead.
P ig s .

37,064
46,126
60,654
47,026
18,825
15,071
12,123
74,716
70,304
67,429
95,413
40,584

Stocks.

B a le s .
30,476
100,391
134,637
158,572
228,476
266,017
267,477
246,454
168,294
118,268
45,924
38,885

1847-48.
Value.

D o lla r s .

92,760
115,315
151,635
117,565
47,062
37,677
30,307
181,785
175,760
168,572
238,532
101,460

Commercial Statistics.

420
TABLE

3.—EXPORTS

AND VALUE OF SUGAR, MOLASSES, FLOUR, AND CORN, AT NEW ORLEANS, IN
MONTHLY PERIODS, FOR 1847-48.

Months.

Sugar.
H hds.

September.............
October...................
November..............
D ecem ber.............
January..................
February...............
M arch...................
A pril......................
May........................
J u n e .......................
July........................
A ugust..................

Value. Molasses.
D o lla rs .

B b ls .

442
22,100
50
395
19,750
249
4,548
227,400 11,433
12,081
604,050 14,348
13,393
669,650 19,872
22,168 1,108,400 19,464
19,088
954,400 13,723
9,954
477,700 5,113
5,224
261,200 3,545
2,006
100,300
779
1,844
92,200
943
344
17,200
724

Value. Flour.
D o lla rs .

Iib ls .

400 17,828
1,992 30,637
91,464 31,458
114,784 60,643
158,976 49,506
155,712 63,762
109,784 29,903
40,904 71,059
28,360 34,050
6,232 27,345
7,544 23,349
5,792 26,464

Value.
D o lla rs .

89,100
153,185
157,2.90
303,215
247,530
318,810
145,515
355,295
170,250
136,725
116,745
152,420

Corn.

Value.

Sachs.

D o lla rs .

24,124 21,71.1
13,813 12,431
32,973 29,675
28,249 25,424
78,479 70,631
182,641 164,376
228.387 205,548
266,041 239,136
146,118 131,506
104,675 94,207
98,241 83,016
18,686 16,214

TABLE 4.—EXPORTS OF PORE, BACON, LARD, AND BEEF, AT NEW ORLEANS, IN MONTHLY PERIODS,
FOR 1847-48.
Months.
September.................
October......................
November..................
December..................
January......................
February........ ...........
M arch........................
A pril..........................
M ay ...........................
Ju n e...........................
July............................
August.......................

Pork.

Value.

H hds.

D o lla rs .

H hds.

D o lla r s .

12,280
24,800
62,650
333,080
466,710
482,350
752,010
573,510
273,980
126,850
65,590
37,810

319
654
674
3,161
5,384
9,115
8,581
9,377
4,340
1,489
1,541
577

15,950
32,700
33,700
158,050
269,200
455,750
429,050
225,367
82,723
28,062
21,279
28,350

1,238
2,480
6,265
33,209
46,671
49,235
75,201
53,552
27,398
12,685
6,559
3,781

Bacon. Value.

Lard.

Value.

K egs.

D o lla rs .

Beef. Value.
B b ls .

D o lla rs .

7,624
22,569
196 1,568
8,865
26,595
103
824
23,776
71,328
802 6,416
94,430 283,290 7,594 60,752
125,011
465,033 10,025 80,200
295,499
886.497 3,649 29,192
429,467 1,288,389 7,943 62,744
225,367
676,401 6,559 52,472
82,723
248,169 1,882 15,256
28,062
84,186 1,186 9,488
21,279
63,837 1,492 11,936
13,654
40,962
650 4,800

TABLE 5.--- VALUE OF EXPORTS FROM NEW ORLEANS.
Summed up, as per table No. 1—cotton ; No. 2—tobacco, whiskey, and lead; No. 3—
sugar, molasses, flour, and com ; No. 4—pork, bacon, lard, and beef, arranged in monthly
periods, from September 1, 1847, to date.
Months.
No. 1.
No. 2.
No. 3.
No. 4.
Total.
D o lla rs .

September...........
October................
November...........
December...........
January...............
February.............
March.............. ..
April....................
M ay....................
June....................
July.....................
August...............

1,213,808
1,808,617
2,270,687
3,374,862
3,483,294
4,302,799
5,866,677
4,928,557
4,006,662
2,418,040
2,569,109
1,279,757

D o lla rs .

733,968
256,579
283,365
599,117
141,502
166,321
222,073
440,549
423,264
525,544
685,088
616,754

D o lla rs .

D o lla rs .

133,341
187,358
565,829
1,047,473
1,146,787
1,747,298
1,415,257
1,113,235
591,316
337,464
299,505
179,025

52,967
84,919
174,094
835,172
1,281,133
1,863,789
1,532,193
1,732,943
824,405
293,474
218,413
111,922

D o lla rs .

2,134,054
2,337,473
3,293,975
5,856,624
6,052,816
8,080,207
9,036,190
8,215,284
5,845,647
3,574,522
3,772,115
2,187,458
When the cotton crop of 1847 began to come in, prices opened liberally, as will be seen
by the quotations for September. The idea of a short crop had its influence, which, with
reduced stocks in France and on the continent, gave impulse and activity to the market.
On the 1st of October the quotation for fair was 11 cents; in November, however, a de­
cline commenced. Large failures in Europe, from speculations in grain, by which the
credit of houses, long conspicuous in the mercantile world, was withdrawn from the usual
channels, together with heavy calls on railway shares* produced great stringency in the
money market. Depression ensued in business, and cotton, as the leading article, and
consequently most exposed to sympathetic influence, had to submit. On the 17th of No­
vember fair cotton was fully down to 7 cents, a decline of 4 cents having taken place in
the short space of six weeks. From this date the market rallied about one cent perpound,
and continued steady until the latter part of March-




Commercial Statistics.

421

TRA D E OF ENGLAND W IT H HER N O R TH AM ERICAN COLONIES.
The following statement of the declared value of the various articles of British pro­
duce and manufactures exported from the United Kingdom to her North American Col­
onics, for each of the seven years from 1840 to 1847, is derived from Parliamentary re­
turns to the House of Commons:—
EXPORTS OF BRITISH PRODUCE TO THE NORTH AMERICAN COLONIES.

Years.
1840
1841
1842
1843
1844
1845
1846
Years.
1840
1841
1842
1843
1844
1845
1846
Years.
1840
1841
1842
1843
1844
1845
1846
Years.
1840
1841
1842
1843
1844
1845
1846
Years.
1840
1841
1842
1843
1844
1845
1846
Years.
1840
1841
1842
1843
1844
1845
1846

Apothecary
wares.
£9 ,7 4 2
10,343
11,069
13,979
14,638
16,629
16,332

Apparel, slops
«& haberdnshy.
£250,151
293,975
282,551
201,106
321,908
388,269
390,022

Arms and
ammunition.
£12,871
12,586
9,619
11,760
15,365
18,339
14,163

Bacon and
Beef and
Beer and
hams.
pork.
ale.
£3,796
£4,060
£10,510
301
347
8,972
62
490
7,298
100
1,282
7,180
189
456
8,415
443
690
7,912
198
1,515
7,238
Leather,
Leather, Linen manufacwrought and saddlery and tures, including
unwrought.
harness.
linen yarn.
£5 ,9 8 6
£71,214
£164,487
6,676
79,888
147,800
4,024
59,918
108,599
2,705
80,029
54,752
3,404
75,295
135,664
79,328
4,004
153,371
3,911
75,911
142,570
Cabinet and
Coals,
upholstery
cinders and
wares.
culm.
Cordage.
£5,901
£21,186
£103,250
5,539
23,858
78,274
4,976
21,740
34,758
4,271
28,324
44,054
24,489
4,222
62,982
5,709
33,316
83,051
49,520
6,034
74,933

Iron and steel,
wrought and
Lead and
shot.
unwrought.
£248,800
£10,494
253,640
10,824
145,744
7,924
133,837
6,057
236,958
14,778
12,220
309,120
9,196
275,589
Brass and
Books,
copper manu- Butter and
cheese.
printed.
factures.
£30,897
£2,7 5 5
£15,628
2,440
29,997
16,947
4,558
8,266
17,406
2,032
14,332
14,127
15,723
4,169
18,097
23,744
1,670
19,843
25,565
19,738
2,024
Plate, plated ware,
Painters*
jewelry and
Silk mnnuSoap and
candies.
colors.
watches.
Salt.
factures.
Stationery.
£13,456
£22,062
£125,880
£67,991
£46,001
£ 2 8,402
16,922
93,162
64,843
25,461
15,823
46.624
17,887
74,674
56,736
21,465
15,824
44,750
9,193
21,276
36,401
47,397
30,409
22,707
25,460
84,113
33,017
14,849
63.323
42,179
18,619
118,997
49,971
35,450
16,897
48,894
21,626
130,186
40,529
30,765
19,210
47,928
Cotton manufactures, including:
Earthenware
Fishing tackle
Hardwares and
of nil sorts.
of all sorts.
Glass.
cotton yarn.
cutlery.
£44,875
£37,270
£42,506
£611,303
£131,326
41,682
34,570
52,520
629,811
155,750
35,152
28,762
500,391
43,259
128,181
32,215
24,986
37,339
334,580
102,260
50,924
34,631
58,690
702,229
167,876
51,350
61,756
43,454
742,225
200,476
31,868
63,085
41,950
641,455
193,880
Tin and pewter wares;
Woollen manutin unwrought
Umbrellas
factures, incluSugar,
Other
and tin plate.
and parasols.
ding yarn.
articles.
refined.
£4
,3
7
4
£449,111
£21,101
£139,092
£56,248
6,625
517,555
87,721
22,845
118,998
4,801
426,847
104,950
13,873
55,169
3,943
270,003
15,754
90,793
27,420
7,648
538,929
136,005
23,086
71,558
12,765
157,610
50,571
674,207
62,556
38,505
13,952
637,638
135,234
59,947
Hats of all
sorts.
£30,354
27,727
26,928
20,171
26,899
40,725
40,031




422

Commercial Statistics.

The aggregate value of British and Irish produce and manufactures exported from the
United Kingdom to the British North American Colouies, for the seven years, was as fol­
lows :—

1841. ■

1840.

1842.

1841

1844.

1845.

1846.

£2,847,963 £2,947,061 £2,333,525 £1,751,211 £3,044,225 £3,550,614 £3,308,059

The following statement gives the quantities of the various articles imported into the
United Kingdom from the British North American Colonies:—
IMPORTS FROM BRITISH NORTH AMERICAN COLONIES.

Years.

1840
1841
1842
1843
1844
1845
1846

Ashes, pearl
and pot.

Beef,
salted.

Corn and
wheat.

Corn and
wheat flour.

Oil, train and
spermaceti.

Pork.
salted.

C w ts .

C w ts .

Q rs.

C w ts .

C w ts .

T uns.

C w ts ,

8,192
68,859
33,375
20,256
36,123
38,612
68,419

477,978
626,567
518,022
326,101
670,948
667,433
904,055

118,499
130,374
127,754
78,659
74,293
135,611
86,399

12,084
11,176
8,908
12,764
9,593
10,336
7,093

98,261
89,571
116,394
136.880
147.720
156,256
119,172

Years.

1,574
2,039
5,924
15,716
10,016
2,676
3,539

Skins,
musquash.

Skins,
otter.

No.

N o.

1840
1841
1842
1843
1844
1845
1846

215,538
147,835
558,227
577,295
282,566
351,826
328,129

Years.

Skins, bear.

1840
1841
1842
1843
1844
1845
1846

5,287
5,400
6,358
6,224
5,918
5,842
6,557

Years.

Timber 8 in.
square.

N o.

L oads.

1840
1841
1842
1843
1844
1845
1846

95,258
92,497
22,241

Fish.

Skins,
seal.

Skins,
wolf.

Masts, yards.
and bowsprits.

82
291
21,226
13.936
2,236
1,552
1,800
Fir timber.

N o.

No.

L oads.

523,296
279,908
316,330
653,204
460,150
438,909
258,606

8,274
10,108
8,656
10,777
13,231
10,310
8,549

8,513
7,450
2,200

551,695
540,543
152,479

Skins, beaver. Skins, fox.

Skins, lynx.

12,351
12,387
6,743
8,633
8,3n8
8,533
9,664
JVo.

55,435
52,240
44.810
40,480
39,056
43,762
66,098
Timber,
all sorts.
L oads.

200,517
578,169
545,754
789,757
729,651

No.

•Afo.
18,906
22,403
16,645
27,747
21,950
25,715
19,744

36,592
46,192
10,995
8,627
7,238
10,649
21,546

Deals and
battens.

Deals, battens, &c.

No.

G t 1. h u n d r e d s .

49,704
52,174
23,200

L oads.

109,829
339,417
392,757
489,587
482,685

Skins, marten.

Skins, mink

N o.

N o.

61,919
67,375
69,972
84,804
76,272
119,106
155,905

29,058
22,233
23,815
32,137
32,889
42,592
60,837

Wood and timber, staves.
G t. h u n d re d s.

76,261
80,936
26,076
free.

free.

Loads.

14,097
43,899
44,180
53,582
45,974

EXPORT TRADE OF CANADA.
EXPORTS FROM CANADA BY SEA (EXCLUSIVE OF TIMBER) FOR THE YEARS

Ashes.

Butter.

Years. B b l s .
L bs.
1838 29,454
80,536
1839 25,480
72.248
1840 24,498 403,730
1841 22,012 211,497
1842 27,641 542,511
1843 31,916 374,207
1844 35,743 460,800
1845 30,916 812,475
1846 26,011 786,701
1847 19,243 11,036,555




Beef. Barley.
B b ls .

B ush.

B b ls .

B b ls .

522
146 59,204
439
50
130 48,427
2,410
60 315,612 6,008
3,685
2,968 4,504 356.210 4.567
9.608
867 294,799 6,754
7,195 6.940 299,957 5,327
5,568 63,755 415,467 6,725
2,140 27,626 442,228 1.570
2,826 6,287 555,602 5.930
1,809 23,102 651,030 21,999

1838 TO 1847.
Wheat.
Oats.

Peas.

Pork.

B ush.

B b ls .

1,415
2,855
59,878
123.574
78,985
88,318
130,355
220,912
216,339
119,252

8 ,8 G8
6,479
11,230
14,795
40,288
10,684
11,164
3,493
5,598
4,674

Flour. Oatmeal.

B ush.

B ush.

3,336
142,059
562,862
204,107 5,666
144,233
3,651
282,183 24,574
396,252 53,530
534,747 46,060
628,001 165,804

423

Commercial Statistics.
EXPORTS OF TIMBER FROM CANADA BY SEA IN

1845, 1846,

1847.
White pine............... > ...... ......
Red pine.....................................
Oak............................................
Elm............................................
Ash............................................
Birch.........................................
Staves, standard...................... ..............M.
“
puncheon......................
“
barrel............................
Deals, pine................................
“ spruce......................... ..........

14,093,520
i. 1,806,080
1,591,520
91,040
108,560
990
1,740
100

1845.
15,828,880
.5,182,320
1,397,440
1,423.920
207,080
183,360
1,407
3,122
652
3,002,015
527,259

■1,372,520
4,218

Lathwood.................................

1847.

14,392,320
5,206,040
1,742,680

3,390,529

\

AND

1846.
1,793.320
188,960
147,880
970
2,203
273
2,081,260
386,807
771,489
5,007

EX PO RT OF BREADSTUFFS IN 1847-8.
The statement below, exhibiting the quantity of breadstuff's exported from the different
ports of the United States to Great Britain and Ireland for the year commencing Septem­
ber 1st, 1847, and ending on the 31st of August, 1848, is derived from the “ Shipping
List.”
Meal.
Wheat.
Corn.
Flour.
Rye.
Oats.
Barley.
From—

B b ls .

New York...............
New Orleans...........
Philadelphia.............
Baltimore.................
Boston......................
Other ports...............

B b ls .

162,430 39,501
16,411 27,843
2,440 30,107
773
2,381
5,518
1,479

B ash.

199,174
39,092
846
4,010
8,500

B u sh .

B usk

B ush.

2,313,092
1,376,450
424,305
144,361
237,346
55,813

Busk.

Total.................... 183,533 105,350 251,622 4,581,367
Same time last year 3,150,689 847,280 4,015,134 1738,744
EXPORTS FROM NEW YORK FROM SEPTEMBER
1847, TO SEPTEMBER 1, 1848.

1,

To G. Britain, &c. France.

162,430
Flour.................. bbls.
Com meal...................
30,501
W heat................bush.
199,174
Corn............................ 2,343,092
R ye...................................................
Oats..................................................
Barley...............................................

EXPORTS FROM NEW
1, 1847, TO SEPTEMBER

1, 1848.

To G. Britain. &c. France.

Gill Flour....................bbls.
16,411 2,026
27,843
1
........ Com meal......................
3,392 W heat.................. bush.
39,092 ..........
Com............................... 1,379,450 ........
Rye...................................................................
10,590 Oats..................................................................
Barley...............................................................

And rye from New York to all foreign ports.........................bush.
“
“
“
last year, same time

26,491
914,828

SA IN T CATHA RINE DOCKS, LONDON.
The' half-yearly meeting of proprietors was held in London on the 12th July, 1848, for
the purpose of declaring a dividend for the half year, ended the 30th of June last, and for
the election of twenty-one directors for the year ensuing. The usual abstracts of returns
of shipping and tonnage that entered the port of London with cargoes from foreign ports,
and also of the ships with cargoes that entered the docks from like places, and of the goods
landed during the preceding six months; also of the quantity of merchandise in warehouse
on the 30th of June, with a comparative statement for the corresponding periods in the
years 1845,1846, and 1847, were submitted for the information of the proprietors. From
these it appeared that a considerable falling off had taken place during the last six months,
but in the corresponding six months of 1847 there had been, from the peculiar circum­
stances of the time, which were well known, a very great increase in the importations of
com and flour, provisions, rice, sugar, and other bulky articles, as compared with the first
(six months of 1846. Those peculiar circumstances being no longer in operation, and




424

Commercial Statistics,

having been succeeded by an extreme depression of trade, the importations, as far as the
St. Catharine Docks were concerned, had been reduced to what they wrere in the corre­
sponding period of 1846, the difference being the most trifling possible, viz:—
The stock goods in warehouse June 30, 1846, was..........................................tons
And June 30, 1848.......................................................................................................

•

Less....................................................................................................................

63,435
62,887

____

548

Of goods landed during six months ended June 30, 1846, the quantity was.tons 52,716
June 30, 1848................................................................................................................ 52,577
Less.

139
EXPORT TRADE OF MANILLA.

W e give below a tabular statement, derived from an authentic source, of the compara­
tive exports of hemp and sugar to the United States and Europe for a series of years; also
a table of sundry articles of merchandise to the United States in each of the years 1845
to 1847, inclusive:—
COMPARATIVE EXPORTS TO THE UNITED STATES AND EUROPE FROM MANILLA FOR THE YEARS---HEM P.

To United States. To Europe.

1838......................................
1839......................................
1840......................................
1841......................................
1849......................................
1843......................................
1844......................................
1845......................................
1846......................................
1847......................................

Total.

69,200
52,650
68,280
62,700
97,486
71,107
89,132
95,288
92,696
100,285

10,810
29,000
15,510
24,300
6,770
14,990
5,934
7,202
16,500
16,739

80,010
81,650
83,790
87,000
104.256
86,097
95,066
102,490
109,196
117,124

54,348
70,106
72,000
35,050
91,435

176,198
147,420
103,(100
176,208
111,447

230,546
217.526
175,000
211,258
202,882

SUGAR.

1843......................................
1844.......................................
1845......................................
1846.......................................
1847...................................... ....................................-

To United States.

Sapan wood.........................
Indigo ....................................
Grass cloth.........................
Coffee...................................
Hide cuttings.......................
Cordage..............................
Buffalo hides......................

1845.

1846.

1847.

11,425
1,650
67,765
111
1,687
1,100
1,586

12,509
954
56,934
216
1,244
1,500
174

28,8137
2,246
69,350
173
1,988
5,750
1,707

EXPORTS OF T E A FROM CHINA TO GREAT BR IT A IN .
The China papers received at Liverpool by the last overland mail, state that the exports'
of tea to Great Britain from the 1st of July, 1847, to the 19th of April, 1848, in 83 ves­
sels, had been 38,308,393 lbs. black, and .5,174,160 lbs. green, making a total of 43,982,553
lbs., against 47,770,444 lbs. from July 1st, 1846, to 30th April, 1847, in 93 vessels, of
which the proportion of black during that period was 41,685,956 lbs., and of green,
6,884,488 lbs. From July 1, 1845, to 30th April, 1846, in 88 vessels, the exports had
amounted to 39,748,994 lbs. black, and 9,707,491 lbs. green, making a total of 49,456,485
lbs. Of the quantity exported to the 19th April last, the amount shipped for London had
been, of black tea, 24,896,486 lbs., and of green, 4,660,254 lbs.; making a total of
29,556,740 lbs. against 32,446,176 lbs. to the period ending the 30th of April, 1847. To-




425

Commercial Statistics.

Liverpool the exports had been, to the 19th of April last, 10,235,758 lbs. black, and
406,191 lbs. green, or a total of 10,641,949 lbs. against 12,278,971 lbs. for the period end­
ing the 30th April, 1847. The exports to the outports, to the 19th April last, had been
3,676,149 lbs. black, and 87,715 lbs. green, making a total of 3,783,864 lbs. to the 30th
April, 1847. Of the foregoing exports to Great Britain this year, the quantity of black
tea shipped from Canton had been 28,285,553 lbs., and 4,622,082 lbs. green, making a
total of 32,907,635 lbs. from that port. The shipments from Shanghai to the same period
had been 10,523,840 lbs. black, and 552,078 lbs. green, giving a total of 11,075,918 lbs.
The exports of raw silk to London from the 1st July, 1847, to the 19th of April, 1848,
had been 11,422 bales against 10,929 bales during the period from the 1st July, 1846, to
the 30th April, 1847. To Liverpool, 6,170 bales against 6,382 bales; to the outports,
2,179 bales, giving a gross total of 19,771 bales to the 19th April, 1848, against 17,311
bales to the 30th of April, 1847. Of the foregoing quantity there was shipped from Can­
ton 1,732 bales, and from Shanghai 18,030 bales to the 19th April last.

PRICE OF W H E A T IN FORMER DAYS.
The “ N orth B ritish M a il ” publishes the following extracts from B. FleetwoodTs
il Chornican’s P retio su m ” showing the price of wheat per quarter at different periods
from 1043 to 1557. W e republish the table in the “ M erchants’ M agazine ” rather as a
matter of curiosity than as possessing any very great value either for present or future
reference.
Year*.
Price per qr. Years.
Price per qr. Years.
Price per qr.
1043....................... x o 0 6 1287...............
3 4 1423....................... x o 8 0
1125....................... 1 0 0 1288............... ....... 0 1 6 1434....................... 1 6 3
1196....................... 0 13 4 1294............... ....... 0 16 0 1455....................... 0 1 2
1197....................... 0 18 8 1315...............
0 0 1460....................... 0 8 0
1205....................... 0 12 0 1316...............
10 0 1463....................... 0 2 0
1237....................... 0 3 4 1317............... ....... 2 4 0 1486....................... 1 4 0
1243........................ 0 2 0 1336...............
2 0 1491........................ 0 14 8
1246....................... 0 16 0 1349............... ....... 0 2 0 1494....................... 0 4 0
1257....................... 1 4 0 1359............... ....... 1 6 8 1497........................ 1 0 0
1258....................... 0 16 0 1361...............
2 0 1499....................... 0 4 0
1270.,.X4 16 to... 0 6 8 1363...............
15 0 1521........................ 1 0 0
1286....................... 0 2 8 1379...............
4 0 1551....................... 0 8 0
But, from a storm
1387............... ...... 0 2 0 1557....................... 0 8 0
of rain, thunder,
1390...............
16 8 Before harvest it
and lightning, in
rose to................ 2 13 4
1401...............
16 0
Saint Margaret’s
1407............... ....... 0 2 0 After harvest it fell
night, July 20, it
to ....................... 0 3 0
1416............... ....... 0 16 0
rose to........ .
0 16 0
IMPORT- OF COTTON WOOL INTO ENGLAND AND SCOTLAND.
In the first six
months of

1835........
1836.......
1837.......
1838.......
1839.......
1840.......
1841.......
1842.......
1843.......
1844.......
1845.......
1846.......
1847.......
1848.......

Imported into
England
and Scotland.

Bags.

698,742
723,417
674,523
952,445
698,213
955,618
784,021
906,619
1,252,938
979,014
1,205,072
700,812
681,511
1,032,140




Average consumption
per week.

Bags.

17,384
18,227
19,127
21,629
20,000
24,500
22,312
24,312
26,484
28,372
32,821
32,600
25,280
24,864

Total consump- Price of Uplands
tion for six
cotton on 1st
months.
of July.

Bags.

451,984
474,902
497,302
562,354
520,000
637,000
581,932
632,112
688,584
723,487
836,940
831,830
644,643
634,032

d.

d.

10 § a 124
8j a m

4f a
5A a
7 a
4J a
5^ a
3$ a
34 a
3} a
3J a
3| a
6i a
34 a

7i
74
9
6f
74

64
54
54

4§
54
74
4f

Prices of 40’»
mule twist
on 1st of July.

s. d.

1 54
1 54
1 04
0114
0114
0114
1 04
0104
0 94
0114
1 04
0104
0104
0 74

426

Commercial Statistics.
SH IP-BUILDIN G ON T H E W E S T E R N W A TERS.

We find in a late number of the Western Journal of Agriculture, Manufactures,
Mechanic Arts, &c., several communications on this subject. From a letter written by
H amilton S m ith , of Louisville, (Kentucky,) we learn that the comparative cost of upper
Ohio built ships, and those built in the eastern States, is a saving of about 20 per cent in
first cost, and from 15 to 20 per cent more in the freight to New Orleans. For instance,
the Minesota, a ship recently built at Cincinnati of say eight hundred tons, will take a
downward freight of five thousand dollars at a cost of towage of one thousand dollars,
which would be more than saved in cost of re-shipment at New Orleans. Mr. Smith
enumerates as the advantages of the West, in this enterprise, “ the cheapest lumber, iron,
hemp, and provisions; easy navigation, saving of cost of re-shipment, and heavy charges
at New Orleans; absence of risk—of damage to perishable freight exposed to the sun in a
hot climate; saving of time, interest, and insurance.” “ Shippers of corn, flour, meat,
and tobacco only,” he adds, “ will fully appreciate the advantage of sending these staples
to a distant market, and through an inter-tropical climate, in vessels clean, fresh, and cool,
in the shortest time.” If Mr. Smith is correct in these general views, and we are inclined
to think that he is, there is an opening for men of capital, skill, and enterprise, of vast
importance to our country.
“ No small part of the timber in the English dock yards. ha3 been transported from
Canada, Norway, and the Baltic, and from fresh water streams. The ships built there­
from, are provisioned with our meat and bread. Let us build the ships here—load them
with our products, and sell ship and cargo abroad. We shall find the demand unlimited,
and we shall, to the extent we go into the business, take labor from less profitable em­
ployments, and create an additional home market for our agriculturists.”
It seems that the commencement of ship-building on the Ohio was at Marietta, in that
S tate; and as the subject is one of interest and importance, not only to “ all good citizens
of the valley of the Ohio,” but of our common country, we transfer to the pages of the
Merchants’ Magazine a brief history of its rise and progress, as furnished by Dr. S. P.
Hildreth, an intelligent gentleman residing at Marietta:—
“ Ship-building in a region where oak timber is so abundant and cheap, one would sup­
pose might be conducted with profit, compared with that business on the Atlantic coast
east of the mountains. The early settlers of Marietta, seeing no good market for their
surplus produce, the transport being too expensive for the conveyances then in use, turned
their attention to ship-building—thus furnishing the mode of sending their produce to a
foreign market, and turning their useless forests to a good account, instead of burning up
the lumber in log heaps. It was commenced as early as the year 1800, when the brig
Arthur St. Clair, of 110 tons, was built, loaded with pork and flour, and conducted to the
ocean by Com. Abraham Whipple. The Spaniards then possessed the shores of the Mis­
sissippi, and threw many obstructions in the way of navigation. The experiment was
successful, and profitable to the owners. In 1801, the ship Muskingum, of 230 tons, and
brig Eliza Green, 126 tons, were built and loaded with produce, making good voyages.
In the year 1802, the brig Dominic, 100 tons, built or owned by H. Beauverleapett and
D. Woodbridge; schooner Indiana, 75 tons, brig Marietta, 150 tons, and brig Mary
Avery. In 1803, two schooners, Whitney, of 75 tons each; brig Orlando, 150 tons. In
1804, ship Temperance, 230 tons, schooner Nonpareil, 70 tons, and brig Ohio, 150 tons.
In 1805, brig Perseverance, 160 tons. In 1806, ship Rufus King, 300, John Atchison,
320, Tuscarora, 320, with brig Sophia Green, 100 tons, and two gun-boats, of 75 tons
each. In 1807, the ship Francis, 300, Robert Hale, 300, brig Rufus Putnam, brig Golata, 140 tons. In 1808, schooner Belle, 100 tons. In 1809, the schooner Adventure, 60
tons. In 1812, schooner Maria, 75 tons. The embargo of Thomas Jefferson, in 1808,
put a stop to ship-building in Marietta, as the sale of vessels was dull. The larger por­
tion of the vessels were owned by Thomas Lord and B. I. Gilman, two.enterprising mer­
chants of Marietta. They were usually sold or built on contract for merchants in Phila­
delphia or New York, but often made their first voyage to the West Indies or Europe to
dispose of the cargoes. Some of them took out cotton for the planters on the Mississippi,
and as they had no steam cotton presses in those days to condense the bags to a moderate
bulk, the price of freight per pound to Liverpool was enormous.




Nautical Intelligence.

427

■“ From 1812 to 1844, shtp-huilding was not resumed in Marietta; but from 1823 to
1838, the building of steamboats was carried on regularly by James Whitney and oth­
ers, numbering nearly forty vessels, some of a large class. In 1844, a company was form­
ed for building ships, and up to 1848 constructed three ships and two schooners; and Mr.
N. L. Wilson, of Marietta, built one ship of 300 tons, loaded her with produce in 1846,
and sent her to Ireland. On her return, she was sold at a fair price in Philadelphia. Be­
fore the invention of steamboats on the Mississippi and Ohio rivers, several of the early
built vessels were tom, or greatly damaged in their descent to the ocean—some on islands,
sandbars, or rapids at Louisville. They can now be towed down safely, but the cost takes
away a large share of the profit on building. Several vessels were built at Pittsburgh,
and one or two at other places on the Ohio, before 1806. The commanders and sailors
to man the vessels, as well as the riggers, came from the Atlantic cities The cordage,
cables, &c., were made at Marietta, and, in 1806, supported three large rope-walks. The
growth of hemp was greatly encouraged, and was one of the staple articles of agriculture
in the rich bottoms of the Ohio, as late as 1810 and 1812. No finer locust or oak timber
can be fojund in the United States than grows on the borders of the Ohio.”

NAUTICAL I N T E LL I G EN C E.
VESSELS W RECK ED ON T H E FLORIDA COAST AND R E E F .
F rom statements made by the United States Senators Westcott and Yulee, of Florida,

to the Chairman of the Judiciary Committee, we learn that, for several successive years,
property to the amount of nearly a million of dollars has been wrecked on the coast and
Reef of Florida. These severe drains upon our commerce have principally arisen from
the want of a correct chart of these now dangerous navigable waters.
In 1846 fifty-three vessels were wrecked, owned as follows:—
In Maine.......................... 11 In New York.................. 11 In France......................... 1
New Hampshire........ 1
Pennsylvania............. 5
Spain.......................... 3
Rhode Island............. 2
South Carolina.......... 1
Massachusetts............ 6
Florida........................ 5
Total................... 53
Connecticut................. 1
England..................... 6
Amount of salvage paid at Key W est in 1846, arbitrated and decreed........... $108,992
Total amount of expenditures by commerce brought into port in distress, in­
cluding salvage....................................................................................................
213,423
Total value of fifty-four ships and cargoes brought in in distress in 1846....... 1,624,800
The indefatigable Senator W estcott remarks as follows on this subject :—
" It is not a little surprising, that in the twenty-seven years Florida has been held by
the United States, no complete nautical survey has been made of the *Florida R eef.’
During such time the British government has had ships of war, (among them the brig
Bustard,) with scientific officers, engaged for months in such surveys; and even in survey­
ing the harbor of Key West, and other of our harbors there. The charts used by our
navigators are the old Spanish charts, and those made by the British from 1763 to 1784,
and of the recent British surveys alluded to, and compilations of them by Blunt and oth­
ers—all imperfect in many particulars, and erroneous in others. W e have no original
A m erican chart o f all the reefs and keys. That accomplished and scientific officer at
the head of the ‘ coast survey ,’ Professor Bache, has informed me, that if the means were
appropriated by Congress, the entire reef and ail the keys, from the Tortugas up to Cape
Sable, could be surveyed in one season. The expense to enable the work to be finished
in one season might not fall short of one hundred thousand dollars; as, to effect it, three
or four different parties of officers must be employed. But the benefits of such a work
would greatly outweigh this amount, and it will not cost less if two or three years are de­
voted to it.”
W e should suppose this important subject would attract the attention of our insurance
companies, as well as our mercantile community generally, whose united efforts might
•induce Congress to take the necessary measures for an accurate survey of this dangerous
coast without further delay. The lateness of the hour at which this valuable document
has reached us, prevents a more enlarged notice in this number.




428

Nautical Intelligence.
NAVIGATION AND MARINE IM PLEM ENTS.

From the report of the Hon. E dmund B urke , Commissioner of Patents, we learn that
about twenty patents for improvements comprehended in this class have been granted
within the year, some of which appear to be very desirable. The mass of these improve­
ments, however, are not such as to claim particular attention in this place, although cal­
culated to operate well, and upon principles slightly different from such as have previously
been known. Great utility cannot be expected in every patentable modification—but the
vast importance of a few will easily reconcile us to the many. It is often observed, also,
that a novel modification, from which little or no benefit seems derivable, is frequently
the first step towards the most important results.
Sm r and B oat- building . Several patents have been granted for improvements in the
models and in the general construction of vessels. One of these is for constructing sail
boats with two hulls or keels , united together at the bow and having but one stem. The
hulls diverge, and the space between them presents an inclined surface, rising gradually
from the lower end of the stem towards the stern of the vessel. It is said that this boat
has greater stability than others, and, with the wind abeam, will sail better; in a word,
that it possesses all the advantages of the twin boat without its disadvantages. W ith a
side wind, it will be perceived that the tendency to capsize is counteracted by the weight
of the windward hull, which mu9t be raised entirely out of the water, or the boat cannot
go over; and when the wind is strong, the windward hull is said to be raised sufficiently
to present but little resistance, and that the boat will run with the resistance due only to
the lee hull: and that the diverging position of this hull is such that the boat will run
closer to the wind, and faster, than those of the ordinary construction.
Letters patent have also been granted for a lighter of peculiar model, and capable of
accommodating auxiliary buoyancy. It is built with a view to unite the strength of a
narrow boat with the stability and buoyancy of a wide one.
Letters patent have also been granted for building boats w ithout the usual knees , by
placing very thick planking together in the form of the boat required, and uniting them
at the kelson by long bent screw bolts passing through them, from the water ways down
through the kelson.
Letters patent have been granted for improvements in building ships with wooden plank­
in g and ribbed plates o f iron instead of knees, and also for a mode of ventilating the
timbers of ships by the action of the bilge water. The ship must have a water-tight li­
ning inside of the timbers; openings are then made through the deck into the space be­
tween the planking and inner casing. The motion of the vessel will cause the bilge wa­
ter to rush alternately from one side of the vessel to the other, expelling the impure gases
and admitting fresh air. The openings in the deck can be governed in any convenient
way. The numerous advantages of this contrivance are obvious.
P ropellers . Several patents have been granted for improvements in propellers—one
for an improvement upon a propeller heretofore patented and noticed, another for an inrprovement in casings fo r screw propellers , and another for improvements in the mode of
leathering the floats of paddle-wheels.
Letters patent have also been granted for improvements in propellers, having reference
to the position, location, construction, and motion of the paddle-wheel, which are said to
produce a degree of speed in vessels hitherto unknown, and at a moderate expenditure of
power. The shafts of the propellers are parallel to the length of the vessel, and the floats
make a small angle with the shaft. The shaft is so placed that the floats only will enter
the water. The propellers are placed at the side of the vessel where there is the greatest
breadth of beam, and revolve inward, pressing the water against the hull. The floats are
so connected with the arms of the propellers as to present a smooth surface throughout
their length. The motion of the wheel is intended to be very rapid, and as the float
strikes the water between it and the hull, it is said that the water moves but little, but the
wheel rushes forward upon it, much as it would upon a solid inclined plane, carrying the
boat forward with great speed. This advantage, if it exist, is due to the very rapid mo­
tion of the wheel, and to the vis inertia of the water. But this mode of propelling has
other advantages of a less equivocal character. The ordinary paddle-wheel, revolving
with sufficient rapidity to propel the boat at high speed, say eighteen miles per hour, moves
through the air in a direction opposite to that of the vessel, at a speed equal to its own
added to that of the vessel, which will amount, perhaps, to forty miles per hour. Moving
at this rate, the resistance which the wheel makes directly to the progress of the boat, and
the resistance of the air to the motion of the wheel, which reacts upon the motive power,,
are immense, and subtract from the progress of the boat and from the power of the engine
a very large per centage. These resistances are avoided by the mode of propelling now
under consideration; and not only so, but the propeller seizes upon the air as well as the




429

Nautical Intelligence.

water, and without touching the water would propel the vessel at a very considerable
speed. The advantage thu3 gained is very great, but experiment must determine the pre­
cise amount of it. If the ordinary wheel is covered by a “ wheel-house,” still the resist­
ance of the air to the motion of the wheel is very great, and the resistance of the wheelhouse passing through the air at high speed, must also be taken into consideration. It is
an unquestionable fact in mechanical philosophy, that power acting directly, as it does in
the ordinary paddle-wheel, will produce its greatest effect; but when we take into con­
sideration the immense resistance with which it must contend when acting in this manner,
the question immediately arises whether it would not be advantageous to exchange a por­
tion of the benefits arising from direct action, for those which result from avoiding the
resistance incident thereto. It is believed that the above mode of propelling is worthy of
careful consideration and experiment.
Several patents have been granted for steering apparatus, w indlasses , ships ’ blocks,
fen d ers fo r canal boats , &c., which, although useful, do not present those radical novel­
ties which would render a notice of them particularly interesting or useful.
LIGHTS TO LEAD INTO HARW ICH HARBOR.
T rin ity -H ouse, L ondon,

22d A u g u st, 1848.

Notice is hereby given, with reference to the advertisement from this House dated the
9th February last, that for the purpose of farther facilitating the entrance of vessels into
Harwich Harbor in the night time, a Light, as hereinafter described, is in course of pre­
paration to be exhibited, with the permission of the Board of Ordnance, in Landguard
Fort.
Mariners are to observe that the arrangement of the several Lights for the said Harbor
of Harwich will be as follows, viz:—
The Lights in the High and Low Light Towers as heretofore exhibited ; and in the
lower part of the High Tower a Light appearing of a R ed color, or W hite, according to
the Line of direction on which it is seen.
The Light about to be shoion from Landguard Fort will appear to vessels entering the
Harbor in succession as they proceed— First, R e d ; Second, W h ite ; and Third, Green .
Masters of vessels, Pilots, and other persons, are requested to attend carefully to the
following instructions, viz:—
Having arrived with the High and Low Light at Harwich in one, steer the usual course
until the R ed Light in Landguard Fort (which will not become visible until the vessel is
to the Northward of the Ridge) is seen bearing North Easterly, and having opened the
same, a West by North course must then be steered, until the lower W hite Light in the
High Tower shall have been opened to the South Westward of the R ed Light, and which
W h ite Light being so kept will lead to the South Westward of the Beach-End Buoy, and
between the Cliff-foot Rock on the Port or Larboard hand, and the Altar Shoal on the
Starboard hand. When abreast of the Beach-End Buoy the R ed Light in Landguard
Fort will disappear and be immediately succeeded by the W hite Light therein, which will
continue visible up to the Altar Buoy, on arriving at which it will in turn disappear and
be succeeded by the Green Light, on the appearance of which it should be brought to bear
East by South for the anchorage.
N ote.—The W hite, R ed, and Green Light in Landguard Fort will be first exhibited
on the evening of the 1st October next, and the whole of the arrangement above described
is to be regarded as temporary only, pending such alterations as may be judged advisable
upon the completion of the Pier now in course of construction.
By Order,
J. H erbert , Secretary .
N EW LY DISCOVERED R E EF IN T H E CHINA SEA.
This Reef is situated directly in the track of vessels proceeding to China, and was dis­
covered on the 5th of October last by Captain Jones, of the ship Julia, then on her pas­
sage from Sydney to Hong Kong. A boat having been lowered, it was particularly ex­
amined by the chief officer. It appeared of coral formation, about 500 feet in length and
200 feet in breadth ; the bottom very uneven, and quite visible in fifteen fathoms. Though
three and a half fathoms was the least found, there may be less over some of the large
rocks. When the boat was anchored in three and a half fathoms, the centre of Pulo
Sapata bore N. W. by W. \ W., and the current setting East half North 2$ miles an hour,
caused a strong ripple to the Eastward. From the centre of Pulo Sapata the Reef bore
S. 60° E., distance four miles, the Great Catwick just shutting in with the South end of
Pulo Sapata.




430

Nautical Intelligence.

DISCOVERIES AND D E T ER M IN A T IO N S OF T H E COAST SURVEY.
Office o f the Coast Survey , W ashington , A u g u st 16, 1848.
The following discoveries and determinations, recently made by the hydrographic part)
of the Coast Survey, employed on the Nantucket Shoals, under the command of Lieut. C.
H. Davis, U. S. Navy, are of sufficient importance to be communicated immediately.
They will be transferred at the close of the season to the preliminary charts of the Nan­
tucket Shoals:—
1st. A shoal, 2} to 3 miles long, making off from the southern extremity of Great Rip,
with which it is connected by a short ridge of 3} fathoms. This shoal lies in a N. by W
and S. by E. direction, (mag.,) and has only 8 teet on it in several places.
The distance between the east end of the South Shoal and the new determination is
only 6} miles. The southern limit of danger on Great Rip is fifteen miles from the shore.
Vessels passing to the southward of Great Rip, or to the eastward of the Old Nantucket
South Shoal, should be careful to govern themselves accordingly.
The centre of the shoal bears from Sankaty Head S. E. |, East, (mag.,) and S. 62° 30'
(true)—13} miles distant.
2d. A small shoal, having only 8 feet water on it in one spot, which bears N. } W .t
(mag.,) and N. 11° W., (true,) from eastern end of Old South Shoal—4} miles distant.
3d. A small shoal, with 16 feet on it, a little to northward and eastward of the prece­
ding, bearing N. by E., (mag.,) and N. 70° 25' E. (true) from Old South Shoal—5} miles
distant.
4th. A small shoal, with 13 feet on it, to the eastward of south end of Bass Rip. The
middle of the shoal bears from Sankaty Head S. E. by E., (mag.,) and S. 65° E. (true)—
6 miles distant.
5. A very small shoal spot, having only 10 feet water on it north of Bass Rip, and one
mile distant from the shoal discovered in that vicinity in 1847, and now marked on the
latest Const Survey “ preliminary sketch” of the Nantucket Shoals. This spot bears from
Great Point Light S. E. } E., (mag.,) and S. 62° E., (true)—6 miles distant.
The ground to the northward, and to the northward and eastward of the Old South
Shoal, is broken, dangerous, and marked by occasional strong tide-rips.
Coasters taking the outside way, are advised to follow down the east side of “ Bass Rip,”
and passing over the tail of it in four fathoms, to haul round under the south side of the
44Old Man,” which (it is always visible) it is best to keep in sight. Here they will have
a good beating channel of at least two miles—that is, from half a mile to two and a half
miles from the “ Old Man.” Vessels taking this course with an ebb (or westerly} tide
will clear the shoals in a few hours. They will also have more room, and be more favored
by the prevailing westerly winds, than in the Sound.
A. D. B aciie,
Superintendent U. S. Coast Survey ,

T H E VOYAGES OF MERCHANT VESSELS
BETWEEN ENGLAND AND THE UNITED STATES TO HONOLULU.

The Polynesian, published at Honolulu, furnishes a statement of the average passages
of merchant vessels from England and the United States to Honolulu direct, from January
1, 1844, to January 1, 1848, four years, as follows:—
From London, 2 vessels, 148} days each.
From N. York, 4 vessels, 148} days each.
“ Liverpool, 6 vessels, 152 days each.
“ Newburyport, 2 vessels, 167$ days
“ Boston, 12 vessels, 136} days each.
each.
Besides the brig Henry, which was 231 days, touching at St. Catharine.
'1 he longest passages direct from England and the United States, are the Mindoro, 171
days from Boston; and the Tagus, 171 days from Liverpool.
The shortest are the Kamehameha III. and Angola, from Boston, 117 days each. The
shortest from Liverpool, is the Tepic, 135 days.
Average passages of 26 vessels from the United States and England, direct, 144} daya.
The shortest passage ever made, and which, perhaps, will never be excelled, if equalled,
was that of the United States ship Portsmouth, as follows:—
Left Norfolk January 25, arrived at Rio in..................................... 33 days.
“ Rio March 8, arrived at Valparaiso in..................................... 29 “
From Valparaiso to Callao in............................................................. 7 44
44 Callao to Hilo, Hawaii............................................................. 28 4<
44 the United States to Hilo—sailing days................................. 97




Nautical Intelligence.

431

N E W LIGHT-HOUSE A T CALAIS.
The old light-house of Calais, situated in the middle of the town on the telegraphic
tower, will be transferred to the summit of a tower recently erected on the eastern ram­
part, and distant about 430 yards from the old building, its latitude being 50° 57' 45", and
longitude 1° 52' inst. of Greenwich.
Thi3 new light will be varied by a flash shown every four minutes, each flash being
preceded and followed by short eclipses; its height is 190 feet above high water mark,
and it will be visible at a distance of twenty miles in clear weather, the eclipses appearing
total only beyond a distance of twelve miles. Beyond this light there is a red light placed
at the end of the pier, independent of the tide light shown from Fort Rouge to the west­
ward of the entrance of the harbor, which is white.
In order to guard against any mistakes occurring from the number of lights now ex­
hibited on this coast, I think it useful to re-mention here the specific characters of those
near Calais, thus:—
Ostend has a fixed light.
Dunkirk, a bright light, with eclipses every minute.
Gravelines, a fixed light.
Calais, new light.
Grinez, (Cape,) bright light with eclipses every half minute.
Cayeux, at the mouth of the River Somme, flashes succeeding each other every four
minutes.
FLO A TIN G LIG H TS IN T H E PRIN CE’S CHANNEL.
T r in it y -H ouse, L ondon, 22 d A u g u s t , 1848.
Notice is hereby given, that in compliance with the request of numerous owners and
masters of vessels, and other persons using or interested in the navigation between the.
North Foreiand and the Nore, two Floating Light Vessels are about to be placed in the
Prince’s Channel, the Lights on board of which will be first exhibited on the evening of
Sunday, the 1st day of October next, and thenceforth continued every night from sunset
to sunrise.
Mariners are to observe, that one of these vessels will be moored in the Eastern part
of the said channel, near to the East Tongue Sand, and will exhibit two Lights, one at
the mast head, which will be W hite , and one at a lower elevation, which will be Red.
The other vessel will be placed at the Western end of the said Channel, near to the
Girdler Sand, and will exhibit one bright revolving Light.
Further particulars in relation to the exact positions of these respective vessels will be
published in due course.
By Order,
J. H erbert , Secretary.

DEAL ISLAND, KENT’S GROUP.
The Light-house on Deal Island, forming one of the cluster’of islands called “ Kent’s
Group,” in Bass Straits, lat. 39° 29' S., Ion. 147° 21' E., having now been erected, a
light is burning, and will continue from sunset to sunrise. The Light-house is erected on
a hill 900 feet above high water mark. The supporting column is 46 feet in height. The
upper part of the column (like all the Light-houses within the government of Van Dieman’s Land) is colored red, and the lower part white. The lower part of the column is
built of granite, each block worked to a mould. The cornice and blocking are six feet
high, and of free stone. The lantern is seven feet high, having a revolving catoptric
light, with twenty-one lamps and patent pipes, smoke Cv>nsumers, working in three groups,
each group containing seven lamps with reflectors, and revolves round once in five min­
utes, showing fifty seconds of light and fifty seconds of darkness. The light may be seen
13 leagues, has been set by cross bearings at a distance of 12 leagues, and is visible all
round the compass, unless the light be intercepted by being close in with any of the sur­
rounding islands.
N E W L IG H T A T FO RT FOCARDO, ISL E OF ELBA.
Notice has been given, that from the 15th of August, 1818, a Light-house will be ex­
hibited every evening on Fort Focardo, at the entrance of the Bay of Porto Longone, in
the Island of Elba.
This light, which will be a fixed one, is at an elevation of 32 metres, or 110 English
feet, above the level of the sea, and will be visible at the distance of six nautical miles.
Fort Fooardo is situate on the Point of that name, S. W. of Porto Longone, and is
close to the entrance of the Bay, lat. 42° 6' 10" N., Ion. 8° 12' 35" E.f meridian of Paris.




432

Railroad, Canal, and Steamboat Statistics,
SHOALS IN TH E CHINA SEA.

R. B. Forbes, Esq., furnishes to the editors of the Boston Journal the following impor­
tant information to navigators. He says—“ Captain Watkins, of the brig Antelope, in­
forms me that several Shoals exist not marked, except on the latest charts of the China
Sea. They are as follows:—
.Lat. 1°
.Lat. 8°
Lat. 8°
.Lat. 8°
.Lat. 8°
.Lat. 7°
•Lat. 7°
.Lat. 7°
•Lat. 7°

Pratt’s Shoal.............. .
Rob Roy’s.....................
Spralty’s Island...........
Another account gives.
Owen’s Shoal..............
Johnson’s Reef............
Another account gives.
Pearl Island..................
Ganges Bank...............

33' N., Lon.
41' N., Lon.
39' N., Lon.
39' N., Lon.
07' N., Lon.
51' N., Lon.
45' N., Lon.
35' N., Lon.
47' N., Lon.

107° 27' E.
111° 3 7 'E.
111° 55' E.
112° 05' E.
112° 00' E.
111° 26' E.
111° 43' E.
111° 29' E.
110° 22' E.

The latter several miles in extent, bearing North Westerly from Prince of Wales Bank.
These Shoals are laid down on the New Charts, but as many navigators are not fur­
nished with them, I trust the above, if published, will be of service.
Very truly yours,
R. B. F orbes.

RAILROAD, CANAL, AND STEAMBOAT STATISTICS.
ENGLISH RAILROAD ST A T IST IC S.
H yde C lark , Esq., is furnishing for publication, in the “ Civil Engineer and Architect's

Journal,” a series of interesting and important statistics of English railways, from which
we derive the following particulars.
The following are the totals of each class of passengers in the years ending 30th June,

1844.

1845.

184G.

1st class........................
2d class.......................
3d class........................
Mixed.........................

4,875,332J
12,235.686
8,583,085J
2,069,4984

5,474,163
14,325,825
13,135,820
855,4454

6,160,354 J
16,931,065}
18,506,527*
2,193,126

6,572,714
18,699,288J
22,850,8034
3,229,357

1847.

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

27,763,6024

33,791,2534

43,790,983}

51,352,163

The amount received foreaeh class in each year, was as follows:—

1844.

1845.

1846.

1847.

1st class........................
2d class.........................
3d class.........................
Mixed...........................

£1,432,688
1,375,679
483,069
147,858

£1,516,805
1,598,115
651,903
209,518

£1,661,898
1,937,946
1,032,206
93,164

£1,675,759
2,048,080
1,286,710
146,733

Altogether................

£3,439,294

£3,976,341

£4,725,215

£5,148,002

The yearly increase in numbers on each class of passengers is as follows:—
1st class.......................................
2d class....... ................................
3d class.........................................
Altogether....................................

1845.

1846.

1847.

12 per cent.
17
«
50
“
21
“

12 per cent.
18
“
41
«
24
“

7 per cent.
10
“
23 “
17 “

The yearly increase in money on each class of passengers is as follows:—

1845.
1st class........................................
2d class.........................................
3d class............................
Altogether....................................




6 per cent.
16
«
34
“
16
“

1846.
9 per cent.
21
“
58
“
18
“

1847.
.p e rc e n t.
7 “
24 “
9 “

433

Railroad, Canal, and Steamboat Statistics.

It is to be observed that no deductions can be drawn from these figures, as the railway
department returns are defective and informal.
The gross returns in each year from passengers, goods, &c., were as follows:—

1842- 2.

1842- 4.

1844- 5.

£4,535,189

£5,074,674

£6,209,714

1845- 6.

1846- 7.

£7,565,569

£8,510,886

According to Mr. Haekett, in Herapath’s Railway Journal, the receipts for the years
ending 31st December, have been as follows:—

1842.

1812.

£4,341,781

£4,827,655

1844.
£5,584,982

1845.

1846.

1847.

£6,649,224

£7,664,874

£8,949,681

And for the year endiug 30th of June, 1848, £9,423,963.
Mr. Hackett’s totals are taken from the traffic returns published in Herapath’s Journal,
and do not include many small companies which make returns to the railway department.
The following will show the totals of the railway department and of Mr. Haekett for the
same period:—
1842- 3 .........
1843- 4 .........
18445.

Railway dept.

Mr. Haekett.

Railway dept.

Mr. Haekett.

£4,341,781
5,074,674
6,209,714

£4,530,501 18456.
5,114,575 1846- 7 .........
6,065,956 1847- 8 ............

£7,565,569
8,510,886
9,423,963

£7,159,562
8,194,767

Except in the first two years, it will be seen that Mr. Hackett’s totals are below those
of the railway department, for the reason already given.
1844-5...............

£142,858 | 1845-6..............

£406,007 | 1846-7.............

£316,119

These figures show that any error in Mr. Hackett’s figures must be on the safe side;
and if we take the difference for the year ’47 and ’48 at £300,000, this will give as the
gross yearly traffic for the year ending 30th June last, £9,700,000, or nearly ten millions
sterling. The increase in passenger receipts in each year is as follows:—
1344-5...............

£537,047 | 1845-6.............

£748,874 ] 1846-7.............

£422,787

The increase in the number of passengers stands thus:—
1844-5...............

6,027,651| 1845-6.............

9,999,730 | 1846-7.............

7,561,180

The gross increase of revenue in each year stands thus:—
1844-5 £1,135,040 | 1845-6

£1,355,855 | 1846-7 £945,317 | 1847-8 £1,200,000

Mr. Haekett has shown (Herapath’s Journal, 3d series, vol. x, p. 33,) that the number
of miles of railway on which his figures are taken, and the average traffic per mile, are
as follows:—
Miles.

1842 ......................................
1843 ......................................
1844 .......................................
1845 .......................................
1846 .......................................
1847 ......................................
1847-8 (half vear)...................

■

Miles opened.

1,532
1,586
1,780
2,043
2,610
3,449
3,830

....
59
194
263
503
839
381

Traffic per mile.

£3,036
3,081
3,283
3,500
3,288
2,862
2,719

The last line has been made up from other data.
The capital expended on railways has been likewise given by Mr. Haekett, from which
we can learn the amount expended in each year.
Whole capital.

1842
1843
1844

.
.
.

£52,380,100
57,635,100
63,489,100

Expended.

....1845
£5,255,000 1846
6,844,000 1847

.
.
.

Whole capital.

Expended.

£71,646,100
83,165,100
109,528,800

£3,157,000
12,519,000
26,363,700

The total amount of railway expenditure from 1842 to the end of 1847, was £57,548,700.
VOL. X IX .----NO. IV .
28




434

Railroad, Canal, and Steamboat Statistics.
TOLLS UPON T H E ILLINOIS AND MICHIGAN CANAL.

The following are the rates of toll as revised and determined upon by the Board of
Trustees:—
KATES OF TOLL ON BOATS.

On each boat used chiefly for transporting common freight, 34 cents per mile 3 cts. 5 mis.
On each boat used chiefly for transporting mineral coal, 3 cents per mile..... 3
0
On each boat used for transporting passengers, 6 cents per mile...... ............. 6
0
ON PASSENSERS.

On each passenger 8 years old and upward, 4 mills per mile*.

0

4

On the following named articles, toll will be computed according to w e ig h t; that is to
say, the following rates per mile-will be charged on each 1000 pounds, and'in the same
proportion for a lesser or greater weight:—
A le............................................... mills
Agricultural implements.....................
Animals, domestic...............................
Anvils...................................................
Ashes, wood......................................... .
Beef......................................................
Beans....................................................
Bread....................................................
Beer....................................... «............
Butter....................................................
Baggage................................................
Beeswax................................................
Bacon................................................
Brooms.................................................
Broom handles.....................................
Broom corn..........................................
Bristles..................................................
Burr blocks............................................
Barley................ ....................... ..........
Buckwheat...........................................
Blooms..................................................
Bran......................................................
Bark, tanners’......................................
Barrels, empty.............................. .......
Coffee....................................................
Crockery, in crates.............................
Cheese...................................... ..........
Crackers................................................
Cordage.............................. ....... ....... .
Cotton bagging.....................................
Cotton, raw, in bales..........................
Coopers’ ware. ...............................
Carpenters’ and joiners’ w ork............
Carriages.............................................
Candles.................................................
Corn......................................................
Cider.....................................................
Clocks..................................................
Charcoal...............................................
Coal.......................................................
Coke......................................................
Clay.......................................................
Eggs......................................................
Flour.....................................................
Flax......................................................

Fruit, home..........................................
Fruit, foreign.......................................
Fish.......................................................
Furniture, household...........................
4 Feathers........ i......................................
8 Flags, for chairs...................................
10 Furs and peltries, alt kinds.................
10 Grease...................................................
10 Ginseng....................... .........................
10 Grindstones...........................................
20 Gypsum.................................................
10 Glass and glassware............................
8 Hemp....................................................
10 Hides....................................................
10 Horns and tips................. ....................
10 H air......................................................
10 Hoops....................................................
12 Ham s.............................................. ...
10 Household furniture, accompanied by
10
and belonging to families emigrating
15 Hay and fodder....................................
5 Heading................................................
5 Hoops, and materials for.....................
10 Hubs, boat knees, and bolts...............
12 Iron, pig and scrap.............................
15 Iron, wrought or cast..........................
10 Iron tools...............................................
10 Ice..........................................................
10 Leather........... ......................................
10 Lard......................................................
10 Lime, common.....................................
10 Lime, hydraulic....................................
10 Lead, pig and bars...............................
10 Merchandise, including dry goods, gro­
10
ceries, hardware, cutlery, crockery,
and glassware, and all articles not
3
specified...........................................
8
20 Manilla..................................................
5 Malt......................................................
1 Molasses, in hogsheads or barrels......
2 J Meal................... *.................................
2 ■ Marble, unwrought..............................
10 Marble, wrought.................................
Marble dust..........................................
Millstones.............................................
10

10

10
15

10
15
10

20
15
15
25
7
10
6

6
15

74

10

10

10
15
10

15
5
3
3

2

74

12

15

1

15

8
3
3
1

15
10

74

12
5
6
15
9
12

* Each passenger 8 years old and upward shall be allowed 60 lbs. baggage or house­
hold furniture (if belonging to or used by such passenger) free of toll.




Railroad, Canal, and Steamboat Statistics,
Machinery...........................
12
Mechanics’ tools.....................
15
3
Manure........................
Nuts........................
9
Nails..................................................... 12
O ats........................
3
6
Oil cake.......................................
Oil, linseed andcom ............................ 12
Oil, lard.............................................. -. 10
O re........................................................
3
Peas....................................................... 10
Provisions, saltand fresh...................... 10
P o rk .....................................................
8
Pot and pearl ashes.............................. 10
Porter.................................................... 10
Palm leaf.............................................. 10
Potter’s w are........................................ 10
Pitch...................................................... 10
Potatoes, and other vegetables..-.......
6
Paper...................... .............................. 15
Powder........................„ ..............„ ....... 15
Rags.................................
9
Rosin....................................................
3
Rye........................................................
6
S alt...................................
6
Seeds...........-..................„ ................... 10
Saleratus............................
10
Salts of ley........................................... 10
Soap...................................................... 10
Sumach................
10

435

Sugar........................................
Skins, animals.........................
Sleds and sleighs.....................
Saddle trees.............................
Shorts and screenings .............

12
10
10
10

Spikes......................................

12
10
10
15

5
5

Shot..........................................
Steel..........................................
Spirits, except whiskey...........
Straw........................................
Staves.......................................
Sand, and other earths............
Stone, cut and sawed.............
Tallow.....................................
T ar...........................................
Tombstones, not marble.........
Trees', shrubs, and plants.......
Tobacco, not manufactured....
Tobacco, manufactured...........
Veneering.................................
Vinegar....................................
Wheat......................................
Whiskey and highwines........
Wool.........................................

25
4
3
2
3
8
• 10

6

6
7A
15*
10
10

.

7
.
.

10.
10
10
. 10
. 15

Wagons and other vehicles....
White lead...............................

On the following named articles, toll per mile will be computed by number or measure:
On each 1000 feet (board measure) of lumber per mile.................................
“
100 cubic feet of timber, hewed or round, if transported in boats..
On the same, if transported in rafts..................................................................
On each 100 brick.................................................................................................
“
1000 laths or shingles..............................................................................
“
100 split posts, or rails for fencing..........................................
“
cord of wood for fuel..............................................................
“
cubic yard (27 cubic feet) dressed stone.....................................
“
“
“
undressed stone........................................

1 ct. 0 mis.
1
0
2
0
1 0
0 2$
1
1
5
2

0

In ascertaining the amount of toll chargeable on any article, the weight of the cask,
box, bag, crate, vessel, or thing in which said article is contained shall be added to the
weight of the article itself, and the toll computed accordingly.
If two or more articles, chargeable with different rates of toll, shall be contained in the
same cask, box, or vessel, the whole shall be charged with the highest rates of tolls
charged on any article so contained.
The rafting of timber on the canal or the feeders is prohibited, unless by written or
special agreement with the superintendent of the canal. Any violation of this order will
subject the person violating it to a penalty of ten dollars for every such offence.
It will be seen the revised rates of toll upon the canal reduce the rates upon most lead­
ing articles materially from those first published. The following is the reduction on 100
pounds per mile:—
Beef................
Bacon.............
........... 5
Corn............... ........... 2
Coal................ ...........
4
Lead.............. ........... 19
Merchandise...
Molasses........




Machinery.....
Nails.............. .............
Oats............... .............
Provisions......
Salt................ .............
Sugar...........................
Iron................ .............

3
3
2
3
3

L ard...........
Lime........... .............. 3
Spikes........
Shot........................... 10
Steel..........
Tallow....... .............. 2
Wheat........

0
3
0

436

Railroad, Canal, and Steamboat Statistics.

Com................ ..................... 1
Oats................. ..................... 0
Rye..................
Barley..............
Beans..............
Buckwheat.....
Coal.................
Bran.................
Flour................
Pork................. ..................... 20
Salt..................

H

9

84
1
1
1 1-5
6 4-5
84

U

4
3

Beef................... . ,ner 100 lbs. 6 cts. 8 ml
5
Butter................ ...................... 8
8
Bacon................ ...................... 6
8
Lard.................. ..................... 6
5
Hams................ ..................... 8
5
Hides................ ..................... 8
5
Wool.................. ...................... 8
......................
12
Leather............
74
Ice..................... ...................... 0
84
Hay or fodder... ..................... 4
y4
6
Potatoes............

PROGRESS OF TH E N EW YORK AND ERIE RAILROAD.
The New York and Erie Railroad Company commenced on Monday, the 14th of
August, 1848, to lay the “ track from the railroad depot in Binghampton, eastward. We
learn that the party at that end of the line are expected to lay nearly two miles of the rails
per week. The iron rails, weighing 60 lbs. to the yard, are from the Montour Iron Works
in Pennsylvania. The cast iron chairs are from the foundry at Corbettsville, about ten
miles above Binghampton, on the Susquehanna, and weigh about 15 lbs. each. The rails
are secured to the cross-ties by these cast iron chairs, at intervals of 18 feet, and also spiked
at intervals of 2J feet. The first car was put upon the track on Wednesday, the 16th of
August, for the transportation of materials; and the track laying will now continue unin­
terruptedly, with an increased force, until the whole road is opened to New York, which
is estimated to take place on the 1st of January, 1849.”
PETERSBDRGH (VIRGINIA) RAILROAD.
This road was opened in 1833, and is 63 miles in length. The capital stock is divided
into 7,690 shares, at a par value of $100. It cost the present company $769,000. Div­
idends are payable in January and July. It extends from Petersburgh to Weldon. We
give the table of distances, fares, &c., as follows:—
Places.

Petersburgh............. '....
Stoney Creek...............
Jarratt’s.........................
Hieksford.....................

Miles.

21
31
41

Fares.

Places.

Pleasant Hill...............
$1 00 Garysburgh...................
1 50 Weldon.........................
2 00

Miles.

52
63

Fares.

$ 2 50
3 00
3 00

F reight Fates. —Lumber, $ 5 per 1,000 ft.; corn and grain, 6 i to 8J cents per bushel;
heavy merchandise, such as sugar, salt, and butter, 25 cents per 100 ; furniture 64 cents
per foot. Charge for transporting horses and carriages through, $3. For lesser distances
than through, the above rates are charged pro rata. Charge for special engine and one
car, $100 at night, $50 at day.
The last annual report of the Petersburgh Railroad Company is made up to the 1st of
February, 1848, and shows that its affairs are in a prosperous and improving state. The
statements of the Board of Directors show that the receipts of transportation for that pe­
riod were $182,686 80, and the current expenses $76,297 13. These being deducted,
left the income for the year $106,389 67. Out of this there was paid on account of con­
tract with F. E. Rives, Esq., $5,000; for interest, $1,120 66; for a new locomotive en­
gine, a new passenger car, and twenty new eight-wheeled freight cars, $16,336 95 ; for
new warehouse at Petersburgh and Garysburgh, and new water stations, $4,272 31; and
for rails, sills, and other materials on hand, $14,891 52. There was also paid a dividend
of 7 per cent, amounting to $52,195. Deducting all these payments there was left a sur­
plus of $12,573 22, to go towards the extinguishment of the debt. The whole amount
of debt now, less the cash on hand and other assets, is $20,038 30.




Railroad, Canal, and Steamboat Statistics.

437

Comparing the receipts with those of the previous twelve months, they show an increase
of $14,409 90 in freight, and $5,184 70 in passengers—in all, $19,594 60. The cur­
rent expenses were increased $4,919 11.
COMPARATIVE STATEMENTS OF TEE PETERSBURG!! RAILROAD.

1847.

Capital paid in............................... ........
Debts.............................................

February 1st,
1848

$769,000 00
144.G74, fil

Increase and
decrease.

$769,000 00
54,973 29

Total....................................
Cost of railroad.............................
Debts due the company................ ..........
Cash.......... ..................................

23
22
16,278 18
83

Total...................................... ..........
Freight...........................................
Passengers and mail.....................

968,931 23
50
70

823,973 29
90,976 40
91,710 40

4,409 90
+5,184 70

Total.............. .......................
Charges, all kinds..........................
Interest.......................................... ...........

20
09
3,882 14

182,686 80
116,797 92
1,120 66

+19,594 60
+33,548 83
2,761 48

Total..............................................
Nett income................................... ..........
Debt........................................ .
Assets............................................

23
75,960 95
62
01

117,918
64,768
54,973
34,934

58
22
29
99

+30,787 55
11,192 75

Amount of debt, less assets..........
Dividend..................................................

61
6 per cent.

20,038 30
7 per cent.

12,648 31
1 per cent.

823,973
*789,038
25,121
9,813

29
30
23
76

$157,322 92
tB,843 05

INDIANA WABASH AND E R IE CANAL.
The President of the Board of Trustees of the Wabash and Erie Canal, in Indiana,
has published a circular containing a statement of the affairs of the Trust for the six
months ending the 1st of July, 1848. This shows that the Trustees had on hand the 1st
of December, 1847, a balance of.................................................................. $483,511 50
Received since, from all sources....................................................................
101,093 31
Total....................................................................................................
Disbursements—Expenses, construction, repairs, and interest on loan....

$584,604 81
226,321 88

Balance, July 1, 1848.........................................................................
The amount of tolls and water rents for the six months ending the 1st of
July, 1848, is..............................................................................................

$358,282 93

Amount received in the year ending July 1st, 1848...................................
“
“
“
“
“
1847....................................

$124,027 12
102,580 57

Increase in 1848.................................................................................

$21,436 55

46,285 07

The eanal is navigable 189 miles, from the State line to Lodi, or Coal Creek, on the
Wabash, and the difficulties in the supply of water between Lafayette and Lodi are mostly
overcome. The line between Lodi and Terre Haute, 36 miles, will be completed and
ready for navigation in the spring, at a cost less than the estimates. From Terre Haute
to Point Commerce, 42 miles, was placed under contract in May last, with a navigable
feeder of 5 miles, making in all 47 miles, to be completed in 1849. A further letting,
from Point Commerce to the west fork of White River, will take place on the 15th No­
vember next, including a dam across the river and a guard lock. Seventy-eight miles are
snow under contract, and ninety and a half yet remain to be let during this and next year.
* Decreased by profit and loss.




+ Increase.

438

Journal o f Banking, Currency, and Finance.
LOW RAILROAD FARE.

Speaking of the practical results of low fares on the railroads of South Carolina, the
Charleston Evening News remarks:—
“ The great numbers which have visited our city from the interior of Georgia and South
Carolina, within the few days which have elapsed since the reduction of the railroad charges
for travel, afford complete proof and illustration of the truth of these remarks. The re­
duced price of travel has crowded our hotels, filled our shops with retail purchasers, ex­
tended the sales of wholesale merchants, while it has correspondingly increased the rev­
enue of the road. Why, then, should not this policy be continued? enlarging the circle
of travel by the temptation of cheapness, and bringing the town and country into more
intimate relations of business, of intelligent intercourse, and social communication.”

JOURNAL OF BANKING, CURRENCY AND FINANCE.
TH E COINS AND CURRENCY OF BRAZIL.
W e published in the M erchants' M agazine (September, 1848, Vol. XIX., pages 309

and 321) several tables relating to the commerce and finances of Brazil, furnished us by
L. H. F. D ’A guiar , Esq., the Consul General of that empire to the United States, remark­
ing at the time that the values were given in the currency of that country. It has occur­
red to us that some of our readers may not be familiar with that currency; we therefore
avail ourselves of the following historical sketch and tables of the coins and currency of
Brazil, as prepared by J acob R. E ckfeldt and W illiam E . D u B ois, Assayers of the Mint
of the United States at Philadelphia, and the authors of a valuable “ Manual of the Gold
and Silver Coins of all Nations.”
Within the period which will come under notice, Brazil appears first as a colony of
Portugal; next as the residence of the sovereign, by which Portugal, from being the pa­
rent, seemed to become the dependent; and .finally, as a distinct nation, taking rank as an
empire.
The followinghasbeen the monarchical succession:—John V. reigned from 1706 to 1750;
Joseph to 1777; Maria I. to 1816 ; but during the earlier part of her reign, the name of
her consort, Peter III., appeared with hers on the coin, until his death, in 1786. In 1799,
the queen having become mentally imbecile, her son, John Maria, began to administer
the government as Regent In 1804, her name was displaced from the coin, and that of
the Regent substituted. Three years after, upon the invasion of Portugal by the French,
his court was removed from Lisbon to Rio Janeiro. In 1816, he became king, with the
title of John VI. The revolution of 1822 separated Brazil from the mother country, and
Peter I. was placed upon the throne, as Emperor. Another revolution, in 1831, dethroned
this monarch, and installed the infant Peter II., then only six years of age.
Although both countries reckon by reis , there has long been a difference in the valua­
tion. As early as 1747, it was decreed that a mark of such silver as was coined into
7,500 reis for Portugal, should make one-tenth more, that is, 8,250 reis, in Brazil.
Previous to 1822, the moidore (moneda d’ouro) of 4,000 reis, and its half, were the gold
coins of Brazil. In 1822, a new coinage was ordained, of pieces of 6,400 reis, (familiarly
called half-joes,) weighing four oitavas, at 22 carats fine. This is equivalent to 221.4
troy grains, at 917 thousandths. The same coinage was confirmed by the law of October,
1833, and the value of the piece fixed at 10,000 reis, currency; but 6,400 still appears on
the coin.
The silver coins previous to 1833 were, the patacoon, or piece of three patacs, (960
reis,) and of two, one, one-half, and one-quarter patac. They were professedly 11 dinheiros fine, or 917 thousandths. In actual fineness, as well as weight, they betray much
irregularity, as will appear by the ensuing tables.
In 1833, a silver coinage was instituted, with new devices. The denominations were
these five : 1,200, 800, 400, 200, and 100 reis. The first piece is the equivalent of the
former 960 reis, and all are intended to be of Spanish standard fineness ; though in fact
they are somewhat below.
The currency of Brazil is chiefly in paper; except that for household purposes copper




439

Journal o f Banking, Currency, and Finance.

is largely used. The silver coins are in market, at fluctuating prices; in October, 1839,
the piece of 1,200 reis was worth 1,680 in paper.
Small ingots of gold, assayed and stamped at the government offices, are uses! in the
circulation of the country, and are not allowed to be exported.*
In a statement of a sum of money, the milreis and reis are divided by the figure 0 , as
for example, 60400, which is 6,400 reis.
The coinage is of small amount. In six years, from 1833 to 1838, the gold amounted
to 377,700 milreis, the silver only to 33,000. The annual average therefore, in both kinds,
is about 060,000 in our money. From all gold sent to the mint, 6J per cent is deducted;
from silver, 13 1-5 per cent.
Brazil is a famous gold-producing region. The mines being chiefly in British hands,
the metal passes out of the country uncoined. From statistics to the middle of 1839, we
gather that the annual produce of the principal mines, in latter times, is about 0700,000 ;
besides which, a considerable quantity is obtained from private mines and from the rivers,
which comes to Rio for sale, but does not pass through the Intendant’s office for the pay­
ment of duty. It is doubtless sufficient to increase the sum total of Brazilian production
to 0900,000 annually.t
All the mines, except Gongo Soco, pay to government a duty of 5 per cent on gold
raised, and an additional 2 per cent as export duty. The primary duty paid by Gongo
Soco is ten per cent.!*§
GOLD COINS.

Denomination.

Moidore........... .......,..
(i
...
tt

Ilalf-joe................... ...
...

Date.

1779
1807-13
1819
1822-31
1833-38

Reign.

Maria I. and Peter III.
John, R egent........ .....
John V I........................
Peter I., Emperor........
Peter II.,
“
___

Weight. Fineness.

Grs.

125.5
125
124.5
221.5
221.5

Thous.
914
914
914
914
915

Value.

d. c. m.
4
4
4
8
8

94
92
90
71 7
72 7

SILVER COINS.

Denomination.

Date.

Reign.

Joseph I ..................... .
640 reis................
it
... 1777-86 Maria I. and Peter III.
3 2 0 .......................
6 4 0 ........................ ... ’1786-87 Maria I.........................
(«
it
... 1800-04
it
3 2 0 ........................ ... 1800 04
John, Regent...............
640 ........................
a
3 2 0 ........................ ... 1804-16
a
9 6 0 * ..................... ... 1810-16
a
... 1816-21 John V I........................
it
fUO
.............. ... 1816-21
9 6 0 ....................... ... 1822-26 Peter I., Emperor.......
f(
6 4 0 ........................ ... 1822-26
Peter I I ........................
1200 ........................ ... 1837
(i
firm .
... 1838
400
............... ... 1837
■K
900 .
.. 1837
M
100....................... .... 1837

Weight. Fineness.
Grs.
Thous.
274§
915
267
903
132
903
274
903
294
903
130
903
284||
903
910
132
900
413
416
900
910
275
416
900
276
905
414
891
276
891
886
138
69
886
886
34.5

Value.

d.

c. m.
67 5
64 9
32 l
66 C
71 4
31 6
69
32 3
1 00 1
1 00 8
67 4
1 00 8
67 2
99 4
66 2
33
16 5
8 2

* Kelly’s Cambist, art. E io de Janeiro.
f Jacobs, quoting various authorities, estimates the annual product from 1810 to 1829,
at a sum equal to 0986,000. (Inquiry, &c., 342.)
f Letter of G. W . S lacum, Esq., United States Consul at Rio.
§ These vary from 267 to 283 grains; the newest are the lightest.
|| These vary from 270 to 294 grains.
H This is simply the Spanish dollar in a new dress; being softened by annealing, and
then restamped. The pillars may be seen peeping from beneath, upon close observation.
In the same way, Bank Tokens were made in England, in 1804, from the same coins.




,

440

,

Journal o f Banking Currency and Finance

.

AIKEN’S IN T E R E S T AND DISCOUNT TABLES.
A copy of a new work thus labelled, beautifully stereotyped and printed by George W .
Wood, of Gold-street, New York, and just published, has been laid upon our table by the
author.
The title-page is very elaborate, and is a pretty full exposition of the contents and cha­
racter of the work, which, with an accompanying tablet, (to use the language of the au­
thor,) “ enables the operator, without labor of thought or calculation, (and even without a
knowledge of figures, further than to copy them,) immediately to write under any sum the
true interest required, or the present worth, or the discount, at either rate per cent, with or
without grace, with an ease, certainty, and celerity hitherto unprecedented; and on all
round sums, with the same quickness that he can set down the principal itself from the
note or bill before him.”
We confess that a perusal of this title gave us, at first, an unfavorable impression of the
modesty or candor of the author—not conceiving it possible that a work of only fiftyeight pages, and those printed in very large type, could contain such an astonishing amount
of mathematical results, or that they could be so arranged as to be as readily available for
practical purposes as there represented. It struck us rather in the light of a modern puff
of a patent medicine, which, though composed of the most harmless materials, is unblush ingly heralded to the public as being a sure specific for nearly all the diseases named in
pathology.
But, on looking into these tables, and using them with the tablet which accompanies
the work, we feel constrained and pleased to admit that the title-page is sim ply and liter ally true. This is, indeed, a high encomium ; but we do not see that we can, in justice,
say less.
The tablet is a beautiful porcelain slate about 4£ by 2$ inches in size, vertically lined
to correspond with the lines of the tables, very pleasant to write upon with a black-lead
pencil, and from which every trace of the pencil is most easily and perfectly obliterated ai
pleasure. For the manufacture of these tablets the author had to send to Europe; and
an unexpected delay in their shipment has retarded the publication of the work, as we are
informed, for nearly a year. But we commend the taste and perseverance of the author
in his determination to accompany his work with so fine an article in lieu of the common
slate, and do not doubt he will be well rewarded in the end.
Any sum, however large or small, being entered upon the tablet in its proper place, the*
interest or discount (whichever is desired) is then entered from the table in its true rela­
tive place, below the principal, on to the tablet, with all the ease and certainty which the
author represents.
On the outer margin of each right-hand page of the work is entered, after the manner
of an alphabet, the time embraced in the two opposite pages, so that by raising the lefthand cover, and placing the thumb of the right-hand upon the index of the desired table,
the work is opened to that table with about the same facility as though it contained but a
single folio, with the table upon it.
The division of time adopted by the author is that which is prescribed by the statutes
of the-State of New York, which, as be justly observes, is the only practical ground rule,
independent of legislation.
The interest at both 6 and 7 per cent is given to the minutest fraction, and the discount
upon the dollar to the ten-thousandth part of a mill. This might seem unnecessarily mi­
nute ; but when the tables are applied to very large sums, its importance becomes obvious.
It is a curious fact that by these tables the interest of any large sum, as of a million or
ten millions of dollars or francs, and the interest of the most minute sum, expressed by
the same digit or digits, as of a mill or the thousandth part of a mill, or of a French cen­
time, is found not only in the same place, but (with the aid of the tablet) as readily , and
with the same certainty , as the interest of a single dollar for the same period of time,
whatever the sums or the period of time may be, and whether the currency be that o f
France or the United States.
The instructions and information, both legal and scientific, with which the author has
accompanied this work, together with the tables given in the appendix for ascertaining the
present worth of dower, annuities, and deferred paj-ments, both certain and contingent, the
time-table and almanac for the century, and two comprehensive tables rendering the work
applicable to the sterling currency of England, are a very valuable appendage, and to those
who have use for them, are well worth the price of the entire work. The tables are equal­
ly applicable to the French and American money of account.
W e perceive, in a note published in the New York Recorder of the 16th of August,
that the author (speaking of the tables of interest at 6 and 7 per cent) assures the public
of the perfect accuracy of those tables—therein guarantying to any purchaser of a copy




Journal o f Banking, Currency, and Finance

.

441

of the work, who shall discover and first point out, either personally or by letter, postpaid,
addressed to him at Westport, Essex county, New York, any error in either of those ta­
bles, the sum of ten dollars , and a return of the purchase money in addition, even should
it be one which gives an erroneous result of no more than the millionth part of a mill, on
any sum of money from millions of dollars to a single mill, from any period of time from
ten years to a single day—adopting the rule prescribed by the statute law of this State for
computing time, and giving to the mathematical figure
(plus) the effect designated in
his remarks introductory to the tables. He further declares h’is unqualified belief that the
tables of discount, and other tables contained in the work, are equally free from any es­
sential error.
With this assurance of the accuracy of the work, and with our examination of its form
and arrangement, we do not hesitate to recommend it to banks, brokers, merchants, and
professional accountants and clerks, as well worthy of their notice and patronage. For,
although these classes of the community may not stand in actual need of such an aid, if
its use be not a material saving o f tim e , (which we think it will be found to be even by
them, on trial,) it will, at least, convert a mental labor into an agreeable exercise, and be
a sure guaranty against those adventitious errors which the hurry and vexations of busi­
ness will occasionally produce. And to the farmer, the mechanic, and to all persons to
whom these subjects are not familiar, but who have occasionally to cast an interest or as­
certain a discount, this work must be, in our judgment, a very desirable, if not an invalu­
able acquisition.
The work is bound in two forms—one embracing the interest both at 6 and 7 per cent
—the other, at 6 per cent only, with the other tables, with rules for deducing other rates
therefrom, and appropriate titles to each; so that either can be procured at prices corre­
sponding with the contents.
BANKS, CURRENCY, AND FINANCE OF OHIO.
Referring to the doubt expressed in the New York papers, and by “ political grumblers ”
in Ohio, who attempt to alarm the people either about their currency or their taxes, the
Cincinnati A tla s publishes the following statement for the purpose of showing that “ the
finances of Ohio were never in so good a condition since the State commenced its public
Works as at present.” The writer, moreover, challenges any of the Atlantic States to
‘‘ produce a more consistent, steady, and prompt support of public credit through the worst
as well as best times.” The Atlas remarks:—
In truth, the finances and currency of Ohio were never in so good a condition since the
State commenced its public works as at present. Nor is this all. Any of the Atlantic
States may be challenged to produce a more consistent, steady, and prompt support of
public credit through the worst, as well as the best, of times.
In the first place, when, in 1824, Ohio determined to commence a system of State im­
provements, the entire property, credit, and faith of the State was pledged for the re-pay­
ment of the moneys borrowed. But much more than this was done. The State provided
that a tax should be laid on all the property of the State, and that the amount of the tax
should be fix e d by the A uditors o f State to meet the sum required. No legislation, then,
was required to increase the State tax. It was made a simple arithmetical problem with
the Auditor, and all he had to do was to make the calculation. This, we believe, was
not done by another State in the Union. Hence, in New York, and other eastern cities,
they were continually looking to the legislature, as they had to do in their own States.
The truth is, Ohio had taken more prompt measures to pay her interest than any other
State.
The legislature has, however, done one thing to make the collection of taxes easier and
more just. It has provided that the property of the State be assessed at its real value,
and that all sorts of property be brought on the tax list. This has done good in every
way, although the assessment is not always just.
The next great point in our financial condition is the B a n kin g System. This, too, is
greatly misunderstood abroad. The facts are these:—There are three different kinds of
banks in Ohio, namely, the old Chartered Banks, the State Bank and Branches, and the
Independent Banks. Now the differences in the principle of these are—1st. That the
Chartered Banks are simply incorporated shareholders on the old plan, giving no special
security to the State, but relying on commercial security only. 2d. The State Bank and
Branches deposits with the Treasurer 10 per cent of the currency it issues as a safety




442

Journal o f Banking, Currency, and Finance.

fund. This is a common fund, and the Branches are then deeply interested in each other's
safety. 3d. The Independent Banks are formed on the principle of depositing with the
Treasurer of the State absolute security for every dollar they issue. The security for their
circulation appears to he perfect. There is both commercial security and State security.
The actual condition of the banks are as follows:—
Old Chartered Banks.......................................................................................
State Bank and Branches...............................................................................
Independent Banks.........................................................
Total hanks in the State.

7
37
II
55

In Cincinnati there are six banks, namely, two chartered, the Lafayette and the Ohio
Life and T ru st; two State Bank Branches, namely, the Franklin and the Mechanics and
T raders; and two Independent, the Commercial and the City Banks.
The condition of the aggregate banks of the State on the first Monday of August was
as follows:—
LIABILITIES TO THE PUBLIC.

Aggregate of circulation..............................................................................
Namely, of old banks.................................................... $1,397,842 00
“
branches................................. .....................
5,633 322 50
“
independent banks......................................
900,202 00

$7,931,366 50

7,931,366 50
Aggregate due to banks and bankers.
Namely, by old banks........................
“
branches...........................
“
independent banks..........

$649,207 64
$287,074 62
259,839 92
102,283 10
649,207 64

Aggregate due to depositors........
Namely, from old banks............\.
“
branches.................
“
independent banks.

.........................
$1,373,357 45
1,864,952 09
961,118 55
------------------

Total liabilities.

$4,199,429 09

4,199,429 09
$12,780,008 22

MEANS ON HANB.

Notes and bills discounted........................................................................... $12,128,812 00
Due from other banks....................................................................................
789,160 00
1,549,978 00
Eastern banks...................... .........................................................................
Aggregate amount of gold and silver.........................................................
Namely, by old banks.....................................................
$457,449 11
“
branches.......................................................
1,994,037 06
“
independent banks..................
279,951 94

$2,732,338 11

2,732,338 11
Aggregate of notes of other banks.............................................................
Namely, of old banks....................................................
$515,526 00
“
branches............................
659,309 00
“
independent banks......................................
153,507 00

$1,268,342 00

1,268,342 00
Total.............................................................................

$18,608,640 00

The cash on hand is about one to three of the immediate liabilities, but more than half
the circulation. The immediate means are to the immediate liabilities more than half.
The total means exceed the liabilities by six millions of dollars. We believe that no
banks in any State of the Union, taken in the aggregate, are as well conditioned to meet
their demands as the banks of Ohio. It is entirely out of place for the bankers of the
Atlantic to sneer at those of Ohio, for most of them are not in as good condition, and
not one of those States has borne as large a proportion of public debt and burden with as
much readiness and as little complaint-




443

Journal o f Banking, Currency, and Finance.
T H E STATE FINANCES OF PENNSYLVANIA.

The report of the State Treasurer upon the finances of Pennsylvania, made during the
month of January last, exhibits the prominent facts connected with the condition of the
Treasury at that period. It appears that the receipts into the Treasury during the last fiscal
year amounted to $3,977,025 89. At the commencement of the year, the sum of
$384,678 70 constituted the balance in the Treasury; the whole amount, comprised of
the receipts and balance, constituting the total revenue, being $4,361,704 59. During
that time, the payments that were made amounted to $3,680,813 74. On the 30th of
"November, 1847, there remained a balance in the Treasury of $680,890 85. A consid­
erable proportion of this revenue has been derived from the public works which have been
constructed throughout the State, and which have long constituted a prominent feature of
its local enterprise. It is estimated, from authentic data, that the condition of the Treasury
during the present year will be as follows:—
Receipts from all sources..............................................................................
Balance in the Treasury on the 1st of December, 1847, exclusiveof the
unavailable deposit in the United States Bank......................................

$3,921,900 00

Total amount.........................................................................................
Estimated expenditures............................................................................

$4,602,790 85
3,576,390 00

Estimated balance in file Treasury on the 1st of December, 1848.........

$1,026,400 85

680,890 85

During the year there was paid into the Treasury, of taxes upon real and personal es­
tate, $492,696 28, comprised of taxes of previous years, and $888,084 91 in taxes for
the year 1847, the total amount being $1,380,781 19.
The public debt of Pennsylvania, which has long been a subject of considerable embar­
rassment, and which was contracted in the construction of its public works, still exists to
an undiminished extent. We subjoin the following exhibit, showing its amount during
the first of January, 1848, and also the public property belonging to the State:—
PUBLIC DEBT.

Funded debt, viz:
6 per cent stocks.......................................................
5 “
“ .......................................................
4 'i

“

“

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

Total funded debt, 1st January, 1848........................
Relief notes in circulation, 1st January, 1848..............
Interest certificates, outstanding.............. .......................
“
unclaimed........................................
Interest on outstanding and unclaimed certificates at 4J
per cent to 1st August, 1845, when funded..............

$1,752,335 06
37,267,990 37
200,000 00
-------------------$39,220,325 43
$881,664 00
353,956 43
4,448 38

22,459 80
-----------------Domestic creditors..................................................... ........ .........................

1,262,528 61
96,095 47
$40,578,949 51

Total public debt, 1st January, 1848.
PUBLIC PROPERTY.

Canals and railroads, at original cost............................
Public buildings and grounds at Harrisburgh, estimat­
ed value......................................................................
State arsenals, powder magazines, &c., estimated__
Stock in sundry corporations, par value......................
Money due on unpatented lands, estimated.................

$28,669,377 72
250.000 00
100.000 00

2,051,998 52
170,000 00
------------------ $31,241,376 24

According to the statement of the Treasurer, the circulation of what are denominated
“ relief notes” has been found somewhat embarrassing to the operations of the Treasury,
and prejudicial to the interests of the mercantile community. It may perhaps be well here
to examine their distinctive character. By a law of the State a loan was authorized to be




444

,

,

Journal o f Banking Currency and Finance

.

effected, and those banks which acceded to the terms were allowed to issue those notes to
the amount of their subscriptions to the loan, and to pay them into the State Treasury.
When the holder of notes on any one bank to the amount of a hundred dollars presented
them at the counter of the bank that issued them, he was entitled to an order upon the
Auditor General for an equal amount of the stock created by law for the redemption of
the notes which were thus issued. The banks were entitled to an interest of 1 per cent
upon the notes thus issued until they were funded. Those notes were made receivable
for all debts due to the Commonwealth; they were to be received by the bank that issued
them for all debts due to the State ; they were to be received by the bank that issued them
in payment of debts due to it and on deposit, payable in like currency. The State Treas­
urer and all the banks wrere bound to re-issue them from time to time, and the faith of the
State was pledged for the payment of the loan. But by an act of April 22d, 1846, there
was an alteration made in the law regulating those notes. The clause requiring the banks
to receive the notes issued by them respectively in payment of debts due it was repealed.
There was no provision made for the redemption of the notes in State stock to a less
amount than one hundred dollars. They were, in fact, nothing more than notes issued
upon the credit of the State during an exigency, to pay the loan ordered by it to be nego-tiated.
W hen the Treasurer of the State entered upon the duties of his office, on the 10th of
February, there was a balance of two hundred thousand dollars of the interest which had
fallen due, and a deficit to that amount. By an act bearing date the 16th of February,
1847, the Treasurer of the State was bound to borrow that sum of money at six per cent
interest, reimbursable within ninety days. That loan was accordingly negotiated with the
following banks, and reimbursed with the interest according to the terms in ninety days.
Bank of Pennsylvania...,.........$50,000
Bank of North America.......... 30,000
Farmers’ and Mec. Bank.......
30,000
Harrisburgh Bank..................... 20,000
Dauphin Deposit Bank............. 15,000

00 Farmers’ Bank of Lancaster. $20,000 00
00 Lancaster Bank.................
15,000 00
00 Philadelphia Bank..................
20,000 00
00
00
Total.................................$200,000 00

This brief view of the financial condition of the State of Pennsylvania exhibits the
prominent facts connected with the state of the Treasury. The improvements which
have been there prosecuted have absorbed a large amount of capital, but the vast resources
which exist in its wide ancF fertile territory, and its mineral wealth, will be more than
sufficient to disencumber it from the liabilities which now in some degree press upon its
revenue. It is supposed by the Treasurer that the various loans of the State might be
consolidated, with great advantage both to the holders and to the State itself.

SALES OF T H E PUBLIC LANDS OF TH E U N ITED STATES.
It appears, from a statement of the monthly receipts from the sales of public lands for
the fiscal year commencing July 1, 1847, and ending 30th of June, 1848, as reported to
the Secretary of the Treasury, that the sales for that year amounted to three million four
hundred and nineteen thousand three hundred and twenty-four dollars and forty-four cents.
The estimate of the Secretary of the Treasury for the fiscal year, including Choctaw cer­
tificates, was $3,500,000. W e should be glad to know what proportion of this amount
has been received from speculators, and how much from actual settlers. We earnestly
hope that Congress will, without delay, adopt measures to secure the national domain in
limited quantities to the latter class. The settlement of these lands by a hardy race of
freemen, is of vastly more importance than the paltry sum annually paid into the United
States Treasury.




,

Journal o f Banking Currency, and Finance.

445

A SHORT CHAPTER ON TH E USURY LAWS.
The history of public opinion and legislation in regard to the doctrine of usury, affords
some curious instances of caprice and mutability. The word usury, itself, has by no
means always expressed the same idea. It sometimes meant any price or premium paid
for the use of loaned money, and sometimes it expressed an exorbitant, unreasonable, and
unlawful rate of premium. The early history of the Christian church shows that the
passages against usury, in the Old Testament, were interpreted to forbid the taking of any
premium for the use of money; and the writings of the fathers, and the decrees of nu­
merous councils deal very severely with the violators of the law, as thus understood. The
Jews understood Moses to forbid the taking of interest on money loaned to a Jew, but as
allowing it in other cases; but, until the Reformation, there appears to have been but one
theory on the subject among Christians, though doubtless the practice of multitudes was
then, as now, to grasp all they could in return for temporary loans, either of money or
other property.
Henry VIII., we believe, was the first nominally Christian monarch who directly sanc­
tioned the taking of interest on loans. The rate of interest was fixed, in his reign, at 10
per cent. In about seven years afterwards, however, the law was repealed by the sixth
Edward, who enacted that no person should lend on usury, or increase, to be hoped fo r or
received, beyond the sum lent. This law continued in force about fourteen years, when
it was repealed by the act of 13th Elizabeth, who revived the law of her father, fixing the
interest, as before, at 10 per cent. In 1625, the rate of interest was reduced to 8 per
cent. Cromwell reduced it from 8 to 6; and, in the reign of Anne, it was still further
limited to 5 per cent. As these changes in legislation respecting loans were occurring,
the term usury seems to have changed its signification from mere interest to excessive or
illegal rates.
On the continent, the famous reformer, Calvin, appears to have been one of the first
to expose the absurdity of the then universal objection to interest on loans, and was ac­
tive in inducing legal enactments justifying premiums on money lent, fixing the rate at 10
per cent.
The object of all such legislation, it is easy to see, was not so much, as many have sup­
posed, to restrain exorbitant usury, but to induce men to loan, to protect them by law in
doing so, and to guarantee them a fair compensation for the use of their money. As the
commercial spirit developed itself, there was necessarily an increased demand for money,
the medium of exchanges. The universal sentiment was again lending on interest, and
the common selfishness and common prudence of monied men would prevent their loan­
ing without any inducement of profit. Hence the taking of interest was legalized, and
it had its contemplated effect; money became as plentiful as the call had been urgent.
Modern legislation, in this country, concedes the right of the owner of money to take
interest on his loans, but it insists in standing between borrower and lender, and forbid­
ding more than a certain fixed price to be offered or taken! This is the only instance, in
the whole range of the law-making power, in which it does or dares to interfere with
buyer and seller, and prevent them from making their own bargain; and it is one of the
most surprising things we can conceive of, that such interference is submitted to by a peo­
ple so jealous of their freedom and rights as we are, and not only yielded to, but defended.
Men who are zealous friends of free trade continue to uphold the usury laws, or at least
tacitly assent to them. Even Adam Smith, the great apostle of free trade, defended them,
considering them necessary for the protection of the needy against the grasping spirit of
avarice. But they do not protect the needy; they do not prevent usurious transactions.
They merely restrain the timid and the conscientious from lending, and throw the busi­
ness into the hands of bold and unscrupulous operators. As different States permit differ­
ent rates of interest, capital is driven from those which allow 6 per cent to those which
permit a higher rate, and thus the trade of some portions of country is crippled for lack
of money. In short, while there is not a single advantage gained, numerous evils are in­
flicted by the laws in question.

AMERICAN CON TIN EN TA L MONEY.
Everybody has heard of continental currency or money, but, from the lapse of time
succeeding its issue, few comparatively know much about it. We shall not attempt to
give any description of it, since neither the paper, types, and engraving peculiar to it, can
be represented by those features in modern printing. Suffice to say, that the notes were




446

Journal o f Banking, Currency, and Finance.

the breadth and half the length of an ordinary bank-note of modern days, with poorly
engraved devices and letter-press, the paper dark and coarse. W ith this currency, as
much as by our arms, however, the glorious war of human rights was carried on, and the
independence of the United States achieved. As no means were provided for its redemp­
tion, continental money depreciated regularly from its earliest issue, towards the close of
the war, with such rapidity as to render it valueless,, of which the following table affords
the rate:—
VALUE OF $ 1 0 0 IN SPECIE, IN CONTINENTAL MONET, AT VAEIOUS DATES.

January........
February-.....
March..........
April............
May..............
June............
July..............
September...,
October........
November...
December....

1777.

1778.

1779.

1780.

1781.

105
107
109
112
115
155
120
150
175
275
300
310

325
350
370
400
400
400
425

743
868
1,000
1,104
1,215
1,342
1.477
1,630
1,800
2,030
2,308
2,593

2,934
3,322
3,736
4,000
4,600
6,400
6,900
7,000
7jl00
7,200
7,300
7,400

7,4007,500

475
500
542
634

The following items are derived from a Philadelphia bookseller’s day-book during the
month of July, 1779, when the depreciation had reduced in value fifteen dollars conti­
nental to one of specie. For convenience sake,, we put the pounds, shillings, and pence, in
dollars and cents.
J. W a t t s ,
Dr.
July 12. 2 gallons black ink.................................................................................. $42 00
Dr.

R o b e r t W h it e h e a d ,

1 quire paper.......................................................................................................—
2 A B C books, $1 33...................... ...................................................................
Expenses,

$ 3 33
2 67
Dr.

1 quart Jamaica spirits............................................................ . .................. „ .........

$ 4 50
Dr.

N ic h o l a s H a u e r ,

30 dozen Almanacs, 20...........
12 “ Primers, 10................................................................................................
12 “ Spelling-books, 42..............................................................................
2 “ Ready Reckoners, 36...................................................
H ag Account,

$600
120
504
72
Dr.

Cash paid for 30J lbs. Rags.....................................................................................

$550

Here is, also, another specimen of prices at a later date, and under greater depreciation
of that currency:—
P h il a d e l p h ia , January 5th, 1781.
Captain A. M. L a n e ,
B ought o f W m. N ic h o l l s .
1 pair Boots..................................... ....................................... ..................................
$600
6} yards Calico, 1 15..............................................................................................
752
6
“ Chintz, 150................................................................................................
900
4J “ Moreen, 100............................
450
4 Handkerchiefs, 110...............................................................................................
440
8 yards quality Binding...........................................................................................
32
1 skein silk...............................................................................................................
10
Total..............................................................................................................
If paid in specie, £18 10s.; that is, $49 43.
Received payment in full for Wm. Nicholls,




$3,194

J ohn J ones.

Journal o f Mining and Manufactures.

447

JOURNAL OF MINING AND MANUFACTURES.
PUDDLING OR REFIN IN G IRON.
THE NEW METHOD OF PUDDLING OK REFINING IKON OK OTHER METALS BY GAS-FIRE.

To the E d ito r o f the M erchants ’ M agazine , etc.

I n the course of the last seven years, a new method of creating heat, principally for
metallurgical purposes, has been spreading over Europe,.and was successfully applied under
different circumstances and to different purposes, but principally to the process of puddling
or refining iron.
It originated in 1841 in Germany, at Wasseralfingenr an iron mine and manufactory be­
longing to the government of Wurtemburg, well known by the true scientific and perfect
way in which it is carried on, and by several valuable improvements which originated
there at different times.
The method of which I wish to entertain your readers, is principally applicable to
the process of puddling, refining, welding iron or copper; but it has likewise been at­
tempted to apply it to the heating of steam-boilers, with variable success.
The principle of it is, to create in a separate furnace, called a gas-generator, by a slow
combustion or distillation of fuel, the inllammable gases, principally oxyde of carbon and
carburetted hydrogen, to lead them there where the heat is wanted, combining them at
their passage into the operating furnace with a blast of hot air, by which they become ig­
nited, and their combustion produces the required heat.
According to the heat to which the gases are brought in their formation, which can
vary from 200° to 400° C., and that of the hot air and its pressure, a greater or lesser
heat can be obtained, and is perfectly at the command of the operator. The mechanical
parts of the required apparatus have been multifariously modified and improved, according
to local circumstances, the nature of the fuel, or the fancy and opinion of the engineers
who constructed them. Yet, in general constructions, the descriptions and drawings of
which are before us, we see no material difference; the principle being constantly the
same, however its applications may be diversified.
The furnaces in which the gases are generated are of cylindrical or polygonal shape,
and slightly conical. They have commonly some means or contrivances which allow a
gradual filling in of fuel in proportion of its consumption, which forms a column of coal,
turf, or what it may be, whereof the lowest part only is kept in combustion, by closing the
furnace carefully against all a ir; of which, there is only admitted from a pipe, subject to
regulation, so much as will only allow a partial combustion of the fuel immediately over
the grate. The gases there created rise through the remaining fuel, drying and heating
it, and thereby predisposing it conveniently for combustion. Some engineers have added
to it one or the other of the numerous well known contrivances for cleaning the grate of
ashes;. such as rotary or otherwise moveable grate bars, kept in constant motion by me­
chanical power ; whilst others have deemed the simple method of cleaning the grate by
hand from time to time, sufficient.
At the upper extremity, at the level of the fuel, is the only way of escape for the gases,
by which they are conducted either directly to their place of combustion, or in other im­
proved constructions, they are first collected in a box or cylinder, the shape of which is
immaterial, where they can depose the coal-dust they may have carried over. From this
reservoir they pass, by one or several flat pipes or mouth-pieces, into their place of com­
bustion, the operative furnace.
There are commonly two, at least, or three such gas-generators^ whereof one is kept in
reserve in case of accidental disorder, which give out their gases into one common reservoir.
Immediately at their entrance into the furnace where the puddling, or whatever other
heating process is to be done, a blast of hot air unites with the stream of gas, which ignites
it, and drives the flame over the hearth, or under the steam-boiler, to any required length,
according to the pressure of the blast. Here some constructors have thought it an im­
provement by driving only a part of the required hot air into the stream of gas at its en­
trance, and the other part by two sidewise applied pipes into the middle of the puddling
hearth. It may be possible that in this way a central focus of heat may be obtained of
greater intensity. Before the gases in combustion, or flames, enter the chimney, they are
applied to the heating of the air-blast by passing through a chamber of similar construc­
tion to the well known air-heating chambers of hot-blast furnaces.




448

Journal o f Mining and Manufactures.

The advantages which this mode offers over the common grate fire, for such metallur­
gical operations, are obvious.
1. Who will not conceive that in the common process of puddling or refining, with coal
upon a grate and a blast directly applied to it, a large proportion of fuel is carried off un­
consumed, either in gases, especially oxyd of carbon, or as unconsumed fuel, as we must
consider as such the thick smoke which is constantly pouring forth with flames from the
high chimneys of such works. This is not the case in the puddling with gas, as the re­
quired height of the chimney is trifling, and yet no smoke and very little flame is observ­
able. Hence it is obvious, that if the fuel is totally consumed in a separate gas-generator,
no undecomposed carbon can escape through the puddling hearth, and an economy of fuel of
perhaps one-quarter can safely be counted upon. Besides, inferior fuel can be used with
equal advantage by adapting the size and capacity of the gas-generator to its nature. In
many places, most inferior fuel, which upon a common grate would not have given any
flame by no means, has been found answering as well as better fuel, and affording great
economy.
2. With the burning gases, any desirable degree of heat, till to the highest white heat,
can be obtained and easily regulated, and by a change of the position of the blast-pipes,
the heat can be increased or concentrated at any particular spot of the hearth.
3. The gases acquire different properties, according to the quantity of hot air they are
combined with. W hen only the exact proportion of air necessary for their combustion is
admitted, and more yet when the gases predominate, their effect upon the metals is re­
ducing ; and when a surplus of air is present, they become oxydizing. In the first case,
the predominating oxyde of carbon effects a more rapid reduction of the oxydes of m etal;
in the other case, the surplus of oxygen effects their oxydation. As in most metallurgical
operations, reduction and oxydation alternate, and must take place under divers circum­
stances, if the proposed end of the operation shall be obtained, this method of creating
heat is an important improvement, as it affords the greatest facility of obtaining and regu­
lating these opposite effects; and not only the manufacture of iron, but likewise those of
copper, lead, and silver, will profit by it as soon as it is adapted to them. Practical ex­
perience has, moreover, proved that the los3 of metal, as well in the puddling as in the re­
fining or welding of iron, is much less than in the common way, and the quality of the
metal rather better.
Certain general rules have already been established by experience. They are—
1. The quantity of gas to be obtained from the gas-generator necessary for a puddling
furnace with a charge of 300 pounds pig iron, must be per minute at least 95 cubic: feet
of 0°, or 131 cubic feet of 100° C., or 166 cubic feet of 200° C., whereof 65 per cent must
consist of inflammable gases, oxyd of carbon, and carburetted hydrogen. The more the
quantity or quality of the gases remain under this proportion, the less heat is obtained.
2. A well organized construction and management of the gas-generators, is an im­
portant condition, and the quantity of air admitted to them must be exactly in proportion
to the combustible per centage of the fuel, and not be over nor under it. The best degree
of heat for the creation of oxyde of carbon and carburetted hydrogen, seems to be 400° C.
3. The pressure under which the gas passes from the generators into the reservoir must
be moderate, or the creation of the gases is liable to irregularity, and too much coal-dust
may be carried along.
4. The gas-pipes and reservoir must be perfectly tight, and so surrounded as to allow
no loss of heat, whereby the degree of heat in the puddling furnace would be much lowered*
and the combustion less perfect.
5. The higher the heat of the air, the more heat is obtained in the puddling furnace -r
and by a carefully constructed apparatus for heating the blast, a difference of 10 to 20 per
cent can be obtained.
6. The volume of air driven into the puddling furnace, must be in accordance with the
quality of the inflammable gases obtained from the generators; that is, it must be just suffi­
cient to consume the gases. A slight surplus of air is less objectionable than a want of it,
considering its effect only in respect to the heat to be obtained. If the effect is subjected
to theoretical calculation, the result is, that when a want of air of one-fifth exists, the heat
in the puddling furnace is less by 296° C., or 13 per cent, as when the exact proportion
of air had been present; and when one-fifth too much is admitted, such difference in the
temperature amounts only to 8 per cent. In this calculation, the heat of the air-blast is
taken at 300° C., and that of the gases at 100° C.
7. The bridge must not be wider nor higher or longer than is necessary to effect an in­
timate mixing of the gases with the air, and a perfect combustion of the former, to prevent
unnecessary loss of heat by the absorption of the material of the bridge, which would re­
duce it in the same ratio in the puddling hearth.




Journal o f Mining and Manufactures.

449

8.
The poorer the fuel, the greater must be the producing furnaces, in order to obtain
in equal time an equal volume of gases.
The advantages of this method of creating heat cannot be denied. Yet it seems to me
that by a simple moderate blast of hot air admitted to the current of flames in their pas­
sage before or over the bridge in a furnace constructed after the old method, the same
effects may be obtainable, with less costly and complicated apparatus, provided good coal
be used. And if the same care would be applied to the regulation of such a blast, and its
effects be as constantly watched and modified, the same effect of obtaining a reducing or
oxydizing flame with predominating oxyd of carbon or oxygen, might likewise be the re­
sult. At any rate, the new method, if superior, demands likewise a greater theoretical
knowledge and much more attention in its execution, a more costly apparatus, more
space, and persons of superior attainments to attend to its operation and conduct.
As for its application to steam-boilers, I consider it perfectly visionary, and as much as
impossible ; and experience has proved it already in many instances, especially in France,
where several apparatus contrived for this purpose have been patented, tried, and aban­
doned.
Its principal recommendation for metallurgical purposes, the facility of obtaining at will
a reducing or oxydizing flame, amounts, in the case of steam-boilers, to nothing-; and as
the difficulty of watching the generation of the gases, and the proportionate admixture of
hot air, so closely as to hit constantly upon the true proportion of both, amounts almost to
impossibility, the occasional excess of unconsumed gases would reduce the yet question­
able economy of fuel, or the excess of oxygen would soon show its effects upon the bottom
of the boiler. This latter cause has already proved so many patented contrivances for
economizing fuel, by admitting a blast of hot air or steam upon the surface of the coal, or
under the bridge, as abortive and good for nothing. Besides this, the necessary apparatus
for creating the gases and heating the air by the escaping parts of the flame, would so con­
siderably increase the space a steam-boiler would have to occupy, with all these appen­
dages, as would make it impracticable, at all events, with floating engines.
The mechanical power necessary for driving the hot air-blast, which, in mining estab­
lishments, is almost always obtained from water-power, would, in the case of a steamboiler, necessarily be derived from the engine, weakening, in the same ratio, its capacity
for its principal purpose. We cannot, therefore, discover any advantage in the applica­
tion of this principle of producing heat to steam-boilers, without reference to the well
known fact, that a number of less complicated contrivances of similar pretensions to econ­
omy of fuel have been tried, and being found not to be preferable to the simple and easily
conducted common method, have all been again abandoned.
Respectfully yours,
G. A. Scherpf.
T H E VEGETABLE SOAP OF MEXICO.
Among the products of New Mexico is a species of palm, called by the natives lechug u illa , which has been denominated soap weed, from the fact that the Mexicans use its
root as a substitute for soap, for which it answers very well. Indeed, it is considered su­
perior to it for the washing of woollens. This singular shrub, which is to be met with on
the prairies, but where it never grows to any considerable size, consists of a trunk very
pithy, surmounted by a fine head of stiff leaves, each of which is about two feet and a half
in length, and armed at the end with a long thorn. The leaves project from this stalk on
all sides, and sit as close as possible, and are of a dark green color. The flower is white,
and very pretty. As each year’s foliage decays, it drops down against the trunk, and is
of a light brown color. These dry leaves, when fire is applied, flash up like gunpowder,
and burn with a bright light.
This plant is applied to many uses by the natives; of its leaves they make their hats;
also, when dressed like hemp, it is formed into ropes and sacks, looking like the material
known as Manilla hemp, though coarser.
The author of “ A Campaign in New Mexico,” observes:—■
“ These plants have a singu­
larly provoking quality; being from two to eight feet in height, they will assume to the
eye in twilight the most deceptive forms. To the sentinel, they will appear as forms of
men ; and many an unconscious soap weed has run the chance of a sentry’s shot from not
answering the challenge, 4Who goes there ?’ If your mule or horse has strayed from
camp, and you start to hunt for him in the grey of the morning, you are sure to be led
first in one direction, and then in another, by one of these shrubs, which, from a short
distance, has taken the form of your animal. Time after time you may have been thus
deceived, yet never seeming to learn experience from a soap weed.”
VOL. X IX .— N O. IV .




29

Journal o f Mining and Manufactures

450

.

T H E COPAKE OR ANCRAM IRON WORKS.
These iron works are the oldest of the kind in the Northern States. They are situa­
ted upon a fine fall of water, in the midst of the old Livingston manor, and are said to
be one hundred and thirty-two years old, having been commenced in 1716. They are
now in the possession of Messrs. L. Pomeroy & Sons, as lessees, having long ago passed
out of the hands of the original proprietors. The furnace is a mere ruin, the difficulty of
procuring coal having rendered the working of it unprofitable. The forges are, however,
still in active operation. Here is made the famous iron from which the United States go­
vernment manufactures its muskets at the public works at Springfield and Harper’s Ferry.
The quality of the iron is said to be the best in the world, combining the essential requi­
sites of toughness, freedom from specks and cross-cracks, and hardness, with great malle­
ability. The workmen are employed most of the time in producing this iron, making at
the same time, however, a second quality from the other end of the slu g , technically so
called, which is sold for the various purposes of tire iron, horse-shoe iron, and iron for
carriage makers. There are also made, from the best quality of the slugs , the famous
patent swedged-collar mail axles, manufactured here in the rough, and forwarded to Pitts­
field, in Massachusetts, there to be finished ready for market.
The ore bed is esteemed one of the most valuable in the United States, whether its qual­
ity, its rich yielding, or its per centage of the pure metal is taken into account. Deeply
excavated, covering a large extent of ground, and thoroughly drained from the bottom, it
presents in the ore which it yields, and in its strata of various ochres, a rare study for the
geologist and mineralogist.
The furnace, situated some eighty or a hundred rods from the ore bed, is built at the
foot of a steep declivity, the river roaring along its rocky channel in front, and the wooded
mountain towering above it from behind. It is now in full blast, making from four to six
tons each twenty-four hours. The pig iron, the result of the blast, is sorted and distribu­
ted immediately after each casting, for the various purposes to which it is to be appropri­
ated—a part to be transported to the Ancram works for the forges to manufacture into
gun iron, and a larger part for the market. The quality of the iron is told in the high
price it brings, from $ 7 50 to $10 per ton above other iron in the market. For many
purposes it is invaluable—such as malleable castings, rail-car wheels, and the like.
COPPER M INING ON LAKE SUPERIOR.
The last number of the Mining Journal has the following in relation to the “ Cliff
Mine.”
This mine has had in successful operation, for several months past, a stamping machine,,
for dressing and concentrating that part of the metal raised, which was so mixed up with
earthy substance as not to be in a proper state for sending to market. During the last
month an accurate account was kept of the cost of running the stamp, and an estimate
made of the value of the product. The result is as follows:—
Cost of running stamps.............................................................................................
Estimated value of the product.................................................................................

$482
3,566

Profit.................................................................................................................

$3,084

The whole amount stamped was 232 tons, from which it would seem that its quantity
of mineral before being concentrated is about 5 per cent. From the results as above stated
we should judge that a much larger profit must be made on this part of the mineral taken
from the mine than is yielded by the large masses or sheets of copper. They certainly
establish its value for working. A very large amount of the mineral raised from the dif­
ferent Lake Superior mines has consisted of a mixed substance like that stamped at the
Cliff Mine, with from 5 to 15 per cent metal. Several experiments have heretofore been
tried for reducing it, but until this recent one without success. From this cause many had
concluded that it was of no value, and that, therefore, a large part of the workings of the
mines being useless, a profit could never he derived from them. This experiment of the
Cliff Mine is, therefore, of great importance as establishing a contrary conclusion. The
“ Goliah,” which left the Sault on the 7th of August, brought down about two hundred
and fifty tons of copper from this mine. There have arrived at the Sault the present sea­
son from the mine about six hundred and eighty tons, and it is estimated that the whole
of its shipments during the season will not be far from nine hundred tons.




Journal o f Mining and Manufactures.

451

A MODEL CLOTHING ESTABLISHM ENT.
There is in Boston one of the largest establishments for the manufacture of clothes in
the United States. We allude to G eorge W . S immons’ “ Oak Hall Rotunda,” as it is
termed by its enterprising proprietor. Some idea of its extent may be gathered from the
fact, that the sales amount to half a million dollars per annum, and that there are em­
ployed in the manufacture 25 fashionable cutters and trimmers, 2 book-keepers, 1 cashier
and assistant, 1 paymaster, 5 runners, 2 expresses, 30 salesmen, and 3,000 operatives con­
stantly plying the needle. The Boston Morning Post furnishes the following description
of this mammoth concern:—
Mr. George W . Simmons, of Oak Hall, has marked the season by making a most im­
portant improvement in his vast establishment. He has added a spacious and lofty rotunda
in the rear of the large sales rooms on Ann-street. This rotunda is also for a clothes
mart, and is well worthy of a description, and should be visited as an object of interest by
those who are anxious in observing how the trade of Boston in the clothing branch is
rapidly increasing. The dimensions of the rotunda are 50 feet by 47, giving an area of
2,350 feet on the basement floor, and the depth from the centre of the splendid variegated
sky-light to the floor is 65 feet. The light is 20 feet by 13, and the stained glass is of
the most beautiful pattern. The main saloon, open from the first raised floor to the stucco
work ceiling, and filled with a flood of light from above and on every side, is in fact di­
vided into two apartments, by means of a gallery of oak, with an elegant iron balustrade.
The gallery is reached by a short flight of stairs, which branch off into a pair, turning to
the right and left on the west side. Above the basement portion the form is elliptic. On
the first floor there are two elliptic counters, with room on each for nine salesmen to wait
on customers at ease—making eighteen in all at the counters; and around the counters
are shelves for eight thousand articles of clothing. In the intervals are four small rooms,
or lighted closets, for assorted made-up clothing. Between the counters and the wellroom railing is a broad promenade, from which may be seen not only all the parts of the
rotunda, but the two sales rooms which project into Ann-street. This view is obtained by
means of two twelve feet doors, which afford access to the rotunda from the Ann-street
rooms. In the second, or gallery tier, are no less than twelve rooms for assorted garments,
regularly classified, completely lighted with ample windows. Here, too, is Mr. Simmons’
own apartment, on the western side of the gallery, which commands a view of the whole
establishment, resembling a gay bazaar with two long streets. In the night the light is
supplied by 24 gas burners in shaded globes. The walls from the gallery to the dome are
ornamented by beautiful pilasters of the Corinthian order. The basement apartment is
devoted to woollens and piece goods, and an immense furnace, set up by Mr. White, for
warming the establishment in winter. Here, then, we have “ Oak Hall for Eighteen
Hundred and Forty-Eight ” the most extensive establishment for the sale of clothing in
the United States, namely, a rotunda of three tiers, counting the pit, two long avenues,
alive with salesmen, projecting from the rotunda to Ann-street, and five large store and
sales rooms up-stairs in the old building. There are on hand in this immense magazine
of wearing apparel 45,000 garments, and stock enough for 60,000 more ; and the entire
arrangement, regarded as a whole, is much more like a vast clothing fair than a retail
store. The rotunda will be completed and opened for business early this week.
N E W METHOD OF SILVERING GLASS.
The London Athaeneum states that a Mr. Drayton, of Regent-street, that city, has dis­
covered a new process of silvering glass which will entirely do away with the old, inju­
rious, and dilatory process of silvering by mercury and tin. Nor is this the only advan­
tage. The silvering is richer in its texture than that produced by the old process; and it
may be touched with the finger and still left untarnished. This important improvement
is produced by a solution of nitrate of silver in water and spirit mixed with ammonia and
the oils of cassia and of cloves. Some of the glass thus silvered is extremely beautiful.
BRUSHES MANUFACTURED FROM QUILLS.
A celebrated brush manufacturer in Paris manufactures brushes from quills, which he
splits, by a mechanical process, into thin strips or slices, resembling very much in appear­
ance bleached bristles. Besides the neat appearance of this article, it possesses the great
advantage over the common hair or whalebone brush, that its single fibres are more dense
and 6olid, while the bristle represents a hollow tube.




452

Journal o f Mining and Manufactures.
T H E BLACKSTONE COAL M INES.

Mr. Wright, the editor of the “ Chronotype,” who has recently visited the mines of the
“ Blackstone Coal Mining Company ” at Valley Falls, in the township of Cumberland,
(R. I.,) furnishes the particulars in regard to these newly discovered mines, and the pros­
pects of a company, which is now regarded as in the full tide of success.
“ The main shaft dives into the earth at an inclination of about 45 degrees, to a dis­
tance of about 200 feet, when horizontal galleries start oft in easterly and westerly direc­
tions, following the stratum or vein, which frequently makes windings and angles. The
dip is irregular, from perpendicular to 45 degrees, and the coal is worked down from above
by chutes into cars, which are trundled by hand to the main shaft, and then hoisted up the
inclined plane by a stationary engine, which also pumps the mine. Several hundred tons
of coal have been raised, which is a soft friable anthracite, as rich in carbon as the average
of Pennsylvania coal, free from sulphurets, and answering perfectly for manufacturing pur­
poses. The coal is abundant, but the veins are in the wildest confusion. As you descend
the quality improves, and there is every reason to believe that, when worked a hundred
feet deeper, a clean and hard anthracite will be obtained, not inferior to any in the world.
The discovery and opening for use of such a resource in New England is worth a great
many times the glory of the Mexican war.
“ This coal is sold at the mouth of the mine for from $ 4 to $ 5 per ton without waste, as
fast as it can be raised. It costs not over 75 cents per ton, including all expenses for the
mining. Six per cent is paid to the owners of the land. About 40 workmen are now
employed in the mine, who of course cannot receive much more than 50 cents per ton for
the coal they dig. These hard working men we think are not likely to get very rich, what­
ever may be the case with the stockholders. If we are correctly informed, the capital of
the company is $50,000. Every hard thousand dollars of this capital will earn as much
as three or four of the living men who dig the coal.”

CHEAPNESS OF RAILROAD IRON.
This article has been gradually falling in its principal producing market, Wales, from
its highest point, JC13, down to £ 5 10s. per ton at the shipping ports, which is about as
low a price as it has ever reached. The Liverpool Times of June 17 remarks that “ the
demand for British iron for home consumption continues on a very reduced scale, and for
many kinds lower prices have been submitted to. Railroad iron has recently been sold at
the shipping ports in Wales at a price which would not clear £ 5 10s. per ton to the
makers.”
£ 5 10s., at 8 per cent exchange, is......................................................................

Duty on import, 30 per cent...................................................................................
Freight and charges to Hartford.......................................................................

$26 38
7 90
5 72

Total cost of one ton of railroad iron delivered at Hartford.....................

$40 00

The price of freights from the shipping ports in Wales to New York varies from $ 2 40
to $ 4 80 per ton. From New York to Hartford iron is usually brought in quantities at
a freight of $1 per ton, and sometimes as low as 75 cents per ton. There is little ques­
tion that $ 5 72 per ton would cover all the charges to Hartford.
Railroads require about one hundred tons of iron, weighing 56 lbs. to the yard, for
every mile.
IRON M INES IN TEXAS.
The Texas Union (of San Augustine) uses the following language:—“ The mineral
wealth of Texas is but just commencing to be discovered—none can tell when it will be
fully developed. In Cass county a vein of iron ore has been discovered, which is said to
be inexhaustible. The ore contains 66 per cent of pure copper. An enterprising citizen
of the county, Mr. Nash, is about to establish extensive iron works.”
FENS MANUFACTURED FROM BONE.
Pens manufactured from bone are in use in England, and soli at less than fifty cents
per hundred. Their flexibility is said to be equal to that of the quill, and the pens far
more durable.




Journal o f Mining and Manufactures.

453

MINES OF CINNABAR, IN UPPER CALIFORNIA.
The mine of New Almaden is situated in one of the ridges of Sierra Azul Mountain,
about midway between San Francisco and Monterey. The mouth of the mine is a few
yards down from the summit of the highest hill that has yet been found to contain quick­
silver, and is about 1,200 feet above the neighboring plain, and not much more above the
ocean. This mine, known to the aborigines from time immemorial as a “ cave of red
earth,” from which they obtained paint for their bodies, was discovered about four years
since to contain quicksilver, by some Mexicans who were smelting the ore for the purpose
of obtaining gold, which they supposed it contained.
About two years ago it fell into the hands of Barron Forbe3 & Co., who sent on hands,
tools, and funds to commence working it. The vessel fell into the hands of the United
States, and was confiscated. The operations were of course delayed till a few months
since, when Mr. Forbes went out there with tools, &c., to test the capability of the mine.
With the inefficient apparatus necessarily attendant on the first working of a mine in a
distant country, there have, however, been extracted, within the two months preceding
March last, between 15,000 and 20,000 pounds of metal, and this with only twenty hands
employed about the whole establishment. The mine is probably realizing now, with its
crude apparatus, a nett profit of $100,000 a year. W ith suitable furnaces and iron cyl­
inders, the profit could, without doubt, be swelled to $1,000,000. Mr. Forbes was, in
March last, about to sail to Europe for the apparatus necessary.
IMPROVEMENT IN BOOT CRIMPS.
Mr. Cosman White, of Galway, in New York, has recently patented an improvement
in boot crimps, by which arrangement he secures a uniform distance of parallelism of the
inner side of the jaws with the outer sides of the tapered crimp board during the opera­
tion of raising and lowering the jaws for crimping the upper, by which an equal pressure
is produced upon the leather, by means of a combination of a dog, screw, and plates, with
slotted bars, and curved jaws, operating together for the purpose described, the dog being
free to play up and down loosely between the form and the base of the frame. He also
claims the interlocking the ends of the jaws by means of cogs and mortices, in combina­
tion with oblong mortices in the frame, in which the cogs rise and fall during the opera­
tion of the jaws, and also the manner of connecting the shutters to the plate by means of
socket joints. He further claims making the frame with a curved form, the shape of the
lower edge of the crimp board, upon which the leather to be crimped is first placed pre­
paratory to its being pressed over the crimp board.
REVOLVING HEELS TO BOOTS.
The editor of the Baltimore Clipper says that he has examined a beautiful boot, made
by Mr. Robert T. Harman, to which he has attached what is called the Revolving Heel,
an invention of his own, for which he is about to take out a patent. The heel is put on
by means of a screw, and can be taken off or put on by a single turn of the hand. A
great many persons usually wear one side of the heels off in a few days, and thus, although
“ as good as new,” make them set uneven and assume an ugly shape. By this invention,
it is only necessary to give the screw a slight turn with the hand, and the side of the heel
not worn off is made to take the place of the one which is gone, so that the boot soon
again sets evenly, as well as easily, on the foot. It appears to be an excellent invention.
AMERICAN FACTORY GIRLS.
It has been supposed by many, that the establishment of our manufactories requiring
female labor would be most disastrous to health and morals, judging from the confinement
to which females are subjected in English factories. It has, however, produced no such
results. It is stated on authority, that in one mill in Lowell, eighty-two boys, and four
hundred and five girls have been married in eighteen years; and that in another mill, one
hundred and eighty-seven girls have been married in five years, and that twenty-eight
have been married from one room in a single year. Why, this is a great matrimonial
mart, where honest men can find industrious wives, and where the character they bring
from their employers, their education, good manners, and personal attractions, are pass­
ports to matrimony among any class of suitors. Some wealthy and fashionable ladies
thave graduated from the mills, and are not ashamed of it.




Mercantile Miscellanies

454

.

MERCANTILE MISCELLANIES.
MORALS IN TRADE.
No greater mistake is conceivable, than the common one of excluding the principles of
high-toned morality from the calculations of business. There are thousands ready to ask,
with astonishment, “ W hat possible connection can there be between a man’s moral prin­
ciples and character, and his success in business matters?” Nor is this all. Not a few
are in the habit of imagining that a very strict and conscientious adherence to moral prin­
ciple is not only no help, but a very serious hindrance to prosperity in trade ; and that a
man, to get ahead in the world, must at times stretch his conscience a little, overreach his
neighbor occasionally, or take advantage of his ignorance or inattention.
Now, without wishing to assume the position of lecturer on morals to mercantile read­
ers, we must be permitted to doubt not only, but deny utterly, the expediency, in a busi­
ness view merely, of disregarding any of the dictates of sound morals in the conduct of
business affairs. W e not only deny the necessity of any resort to overreaching, any vio­
lation of the strictest rule of integrity, or any violence to our own conscience in matters
of business, but we are prepared to maintain that every kind and degree of dishonest deal­
ing with our fellow-men is a positive, and serious, and often fatal impediment to ultimate
success. We believe that a large proportion of the failures of individuals and associations
are owing to bad moral principles, or a deficient rule of integrity. The late Gideon Lee,
of New York, a memoir of whose life will be found in the eighth volume of the Mer­
chants’ Magazine—himself one of our most upright, and at the same time most successful
business men—was accustomed to predict the ultimate failure of those whose strict up­
rightness he had seen reason to doubt. On one occasion, an individual dealing with him
boasted that he had overreached him in a particular transaction. It came to the ears of
Mr. Lee, who simply remarked that he regretted it for the individual’s sake; for, with
such principles, he could not fail ultimately to overreach himself and get into straits. The
event proved the sagacity of the prediction. In a few years, the individual in question,
from being a man of handsome property, became a penniless dependant upon charity, and
applied to Mr. Lee, among others, for assistance.
It is seldom, indeed, that the revulsions in trade which disturb the general prosperity
are attributable to physical, providential influences. It is not the earthquake, the pesti­
lence, the famine, or the failure of natural causes to work their results, that is chargeable,
in most eases, with the decline of a people’s prosperity, but the silent, sure operation of
moral disorder; and so it is with individuals. Most men fail in business, not through over­
whelming physical misfortune, such as Joss of health or reason, or the destruction by fire
or flood of their property, but generally through disregard of the simplest principles o f
morals. In most cases, we suspect, it would appear, were the truth known, that the ruined
man has brought his affairs into hopeless condition by his grasping spirit involving him in
ruinous extensions and speculations; or by his overreaching disposition, which, becoming
notorious, has driven off his customers; or by his meanness, which has disgusted them ;
or by some other bad ingredient in his moral mixture.
The same principle operates in the case of corporations; for, notwithstanding the adage
that “ corporations have no souls,” there is a public sentiment at all times surrounding
them, which holds them to a rigid moral responsibility, and dooms them if they disregard
it. We see the fragments of broken institutions—banks, for example—floating down to*
infamy, simply because they had not the wisdom to fulfil honestly the purposes of their
existence; and we see others rapidly tending to the same inglorious destiny, Mot becausethere is not profitable business enough for them, but because they are not held by a strong
sense of moral obligation to the path of their duty, and because, like grasping individuals,
they are not content with legitimate and reasonable gains. Morally corrupt in their in­
ternal administration, they not only insure their own ultimate decline, but involve in it
the community they were bound to serve; for there is a prodigious force in the corrupting
influence of a bankrupt bank upon mercantile morals. A bank that sets at nought itssolemn promisee to pay its obligations, opens the flood-gates through which individual
honor and responsibility are swept away. To be as good as the bank, is the climax o f
mercantile credit, and few men care to be regarded as better. The bank is the standard ^
and when that falls, those who were regulated by it fall also, and a common and promis­
cuous corruption reigns.
It is bad enough when physical calamity overwhelms a community, such as New York




Mercantile Miscellanies

.

455

suffered from the great fires of ’35 and ’45, when many millions of property were in a few
hours reduced to ashes, and the monuments of industry and enterprize which a century of
toil had reared, tottered and fell in vast blackened ruins. But from such calamities we
can recover. Under such afflictions we gather strength, resolution, and buoyancy, and,
like the fabled phcenix springing from her ashes, we rise in brighter forms. The memo­
rials of destruction are effaced, the warehouses of commerce are restored, and the labors
of enterprize resumed with four-fold energy. Such calamities do not unmake, but make
us. But when the lofty tone of mercantile honor, integrity, and stern morals, is lowered
—when the craft and cunning, the shrewd overreaching, and the inordinate grasping of
the peddler, usurp the spirit and principles of the high-minded merchant—when trade
becomes a trick, and mercantile enterprize a game, in which the parties only aim to cir­
cumvent each other and sweep the gains into their own coffers—then are we ruined in­
deed, without hope and beyond remedy.
W e make these remarks because the keen encounter of competition, in this day of in­
tense activity in all mercantile pursuits, tends constantly and powerfully to blunt the moral
sense, to deteriorate the better feelings of our nature, and to superinduce a narrow, selfish,
grasping, immoral sentiment, than which no greater evil can befall us. But space fails us,
and we must leave the subject to the reader’s own thoughts.
SHORT M EASURE AND DECEPTION IN FABRICS.
“ W e have before called the attention of the trade to the important and increasing evil
of short measure, and would add,” says the Merchants’ Gazette, a paper devoted to the
interests of the dry goods trade, “ for its consideration, the deception practiced by many
manufacturers, particularly among small carpet weavers. W e have seen several cases of
the most flagrant attempts to cheat by commencing the pieces with w*ool filling, and after
some ten or fifteen yards the whole fabric is changed from wool to cotton, reducing the
value thirty or forty per cent less than the first of the piece represents. These frauds are
becoming so common that the honest manufacturer is materially affected. Some means
should be adopted to bring these parties to the punishment they deserve. W e would sug­
gest that there should be a legislative enactment, by which a forfeiture should be made of
all descriptions of merchandise which is evidently manufactured and sold with the intent
to cheat. The regular manufacturer is as much interested as the purchaser, and no doubt
would willingly join in every proper measure to put a stop to so villainous a system.
Nothing acts so strongly against regular business as these innovations, made by worthless
adventurers; and nothing secures with more certainty the success of any branch of man­
ufacturing than a uniform, reliable fabric. W hat has given us so great a preference over
others in foreign markets, except a strict adherence to weight, length, and uniform tex­
ture. The vexation and trouble which this species of swindling gives to all parties, is far
beyond any advantage that can ever temporarily be derived from any such glaring decep­
tion. In the end, the short measure must be allowed, and the quality made good. Some
instances may be found where a considerable time will elapse before the day of retribu­
tion ; but it comes at last, and if not met and satisfied will involve the parties in legal
controversies, and end in disgrace, as well as heavy additional charges, if not absolute
punishment. The remedy lies with the purchasers: they must examine, and claim dam­
ages, insisting upon a fair remuneration for time misspent and injury sustained.”
CULTURE OF T E A IN T H E U N ITE D STATES.
An interesting article in Skinner’s new periodical, entitled “ The Plough, the Loom,
and the Anvil,” upon the culture of the Tea P la n t , corrects the opinion long entertained,
that it cannot be cultivated with success out of the Celestial Empire, and shows that it is
cultivated there in the northern and mountain region, where snow lies on the ground three
or four months to the year; that it is found wild in Assam, and is cultivated in quantities
at the foot of the Himmelah Mountains. From these facts, with other information de­
rived from traders, &c., returned residents of tea countries, the writer is fully convinced
that this country, from Texas to New York, will grow tea equal in quality to two-thirds
of that imported, and that some of the States will grow it equal to or better than the best
that comes from China. The article also states that a gentleman recently returned from
Calcutta, who for five or six years managed one of the company’s tea plantations in
Assam, has written a book upon the subject, not yet published, and has expressed an
opinion that this country “ can grow as good tea as any portion of the world.” The
writer thinks “ the child is cow bom that will live to see the United States export, instead
o f import* tea.”




456

Mercantile Miscellanies

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BUSINESS EN TERPRIZE AND PERSEVERANCE.
The Trenton (N. J.) State Gazette publishes the following authentic history of a former
resident of that city for the “ advantage of all such as are disposed to sit down in despair,
and rail at fate for such disappointments in life as are sure properly to be ascribed to indo­
lence.” It illustrates the importance of industry, energy, and perseverance, in the char­
acter of the business m an:—
Some years ago, an individual well known in Trenton, concluded to try the experiment
of bettering his condition by adventuring to the Western country. Leaving his family be­
hind, he bade farewell to Trenton one fine morning, and with little else than a light
heart and a good constitution, in the way of capital, he commenced his journey. In a
few weeks he found himself in the city of St. Louis, without a solitary acquaintance in
the place, and but a solitary shilling in his pocket. This he reserved to pay for an ob­
scure lodging, and went supperless to bed. The next morning he went to look for work,
and soon got a contract to dig a well. On this job he cleared several dollars, and we
next find him building a mill-dam for some person in St. Louis, which he accomplished
with his own labor, to the decided advantage of his hitherto lean purse.
By thus turning his hands to whatever they could find to do, without regard to the
humbleness of the occupation, our adventurer returned, after an absence of a year, with
seven hundred dollars in clear cash, and no unpaid debts to harass his fear. In a short
time he again sought his new home, and arrived in St. Louis in the heat of a copper mine
mania which had sprung up from the discoveries about Lake Superior. Without friends,
without education, without experience in the matter, he put out for the mining region to
see what could be done by such a person as himself. In an open boat, he minutely ex­
plored the rock-bound coast of the mighty lake for several hundred miles; and after an
absence of some years, returned again to Trenton with several thousand dollars in hard
cash, and with deeds in his pocket that showed him to be the owner of some of the West.
With the knowledge he had thus acquired by patient assiduity, our whilom well-digger
went to Flemington, New Jersey, and succeeded in instilling new life into the owners of
the well known copper mine of that place, and in a few months sold out his interest in
that concern at an advance of over ten thousand dollars. A few days since he re-turned
to Missouri, where he has stores, lead and copper mines, &c., all in the full tide of suc­
cessful operation. All these results have been achieved by individual sagacity, aided by
unyielding perseverance. Meanness and parsimony have had no share in the success we
have recorded, for our hero is as open-handed as a prince. His generosity is unlimited, as
more than one person, who owe all they possess to his friendly munificence, can testify.
A MODEL BOOK PUBLISHING HOUSE.
The book publishing business has reached a high degree of perfection in New York,
says the “ Day B o o k ” yet every year witnesses some improvement and enlargement
Among the enterprizing establishments now in successful operation, that of Messrs. A. S.
Barnes & Co., No. 51 John-Street, as publishers of standard educational works, ranks de­
servedly with the foremost. Their establishment comprises two large four story buildings,
containing twenty apartments, with all the machinery and other conveniences for print­
ing, ruling, binding, &c. &c. In the cellar is a steam engine of six horse power, which
keeps in operation four hand and six power presses in the second story, and other ma­
chinery in various parts of the building. About one hundred and twenty hands are em­
ployed, one-third of whom are females, and the most perfect order and system prevail
throughput the establishment. The work turned out by this firm is of the best descrip­
tion. The writer noticed some specimens of wood plate printing, almost equal in appear­
ance to steel engraving. This firm has, by untiring industry, activity, and upright deal­
ing, reached a position in their line of business second to none. A record of progress and
success in the art of publishing is not without interest and instruction.
AM ERICAN BONNETS IN ENGLAND.
An article in the London Court Journal says, a new summer bonnet has been adopted
by the ladies of the Court as the greatest novelty of the season. It is called the Neapol­
itan bonnet, and, strange to say, it is the production of Brother Jonathan, over the water.
Its weight is only two ounces, and its elasticity is such, that no bruises can derange its
shape. But its greatest novelty consists in having an alabaster semi-transparency, which,
by throwing a side light upon the features, gives them the indescribable softness and ex­
pression which the Italian ladies obtain by lighting up their rooms with lamps reflected
through vases of Oriental alabaster.




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TRADE.

1. — L ead D iseases: a Treatise fro m the French o f L . Tanquerel des P lanches , with
N otes and A d d itio n s on the XJse o f the L ead P ipe and its Substitutes. By S amuel
L. D ana , M. D., LL. D., Member of the American Academy of Arts and Sciences,
Corresponding Member of the Boston Society of Natural History, of the Academy of
Natural Science at Philadelphia, and of the National Institute at Washington. 8vo.,
pp. 441. Lowell: Daniel Bixby.
The original work, of which this is both a translation and an abridgment, is in two
volumes, octavo, comprising about eleven hundred pages. In condensing the work, Dr.
Dana, we are assured, has given faithfully the meaning of the author, without confining
himself to a simple translation of the language \ and in selecting portions of the original
to form the body of the present volume, he has been guided more by the practical, than
the theoretical results and views of the author. The historical details have been com­
pressed, but all that was essential has been retained. The work is divided into parts and
chapters, a feature not in the original; and the unity of the whole preserved, without vio­
lence to the plan and intention of Tanquerel. Lead diseases are classed under four well
determined forms—Colic, Asthralyz, Paralysis, and Encephalopathy; which, the author
maintains, have no real and necessary relation, except their common origin. The facts
collected by Tanquerel enabled him to point out many established errors, and to add largely
to our knowledge of this disease, and the description found in this work is unquestionably
more complete than that of preceding authors. The Hospital of Charity, where nearly
all the lead diseased workmen in Paris or the environs resort, furnished the author with
the means of carrying on his observations upon an extensive scale. For eight years he
visited the patients of that hospital afflicted with lead diseases in all their varieties, but
few of whom escaped his examination. This work received the Montyon prize of 6,000
francs from the French Royal Academy of Medicine in 1841, for “ completely fulfilling
the intent of the founder of the prize, being the best work improving medicine or surgery,
and diminishing the danger of certain trades in the mechanic arts.” The American trans­
lator has added an interesting appendix, embracing much valuable information on the sub­
ject, with letters from several distinguished medical and scientific men, all bearing testi­
mony of the most satisfactory character, as to its intrinsic value and importance. W e
should be glad, were this the place, to extract a letter (in the appendix) from a New York
lady of the highest respectability, referring to the disease of a son, which would of itself
sufficiently elucidate the vast importance of this great work. W e shall endeavor, how­
ever, to refer to it in a future number of our Magazine. In the meantime, we would
earnestly commend it to the medical profession, and more particularly to all persons in any
way connected with certain branches of the mechanic arts.
2. — General P rinciples o f the Philosophy o f N ature : w ith an Outline o f some o f its
Recent Developments among the Germans, embracing the Philosophical System s o f
Schelling and H egel, and Oken’s System o f N ature. By J. B. S tallo , A. M., lately

Professor of Analytical Mathematics, Natural Philosophy, and Chemistry, in St. John’s
College, New York. 12mo., pp. 520. Boston: Wm. Crosby & H. P. Nichols.
By adopting very nearly the language of the author, we shall be able to give the design
of this work, as far as that can be accomplished in the limited space allotted to book no­
tices in our Journal. The work is divided into two parts. The first is programmatic, and
simply assigns the general points of view for a philosophical study of the natural sciences.
The principles laid down are an abstract of a larger treatise, containing developments and
applications especially to Physics and Chemistry, which Professor Stallo has reserved for
future publication. The second part is an attempt at a delineation of German “ philoso­
phy of nature ” in some of its most notable phases, embracing principally the philosophi­
cal systems of Schelling (with Oken’s System of Nature) and Hegel. The author ex­
amines the critical philosophy, and gives an admirable analysis of Kant’s •* Critique of
Pure Reason.” The fundamental principle, upon which, according to the author’s con­
viction, all true philosophy of nature rests, is, that the different manifestations of the vi­
tality which bursts forth in nature’s phenomena are comprehensively united—centred in
the m ind; that the implacable rigor of cosmic laws, which sway extensive m atter, is iden­
tical with the eternal freedom of m ind in its infinite intensity. The work bears the im­
press of a profound and philosophical mind, and is evidently the fruit of a lung and serious
study, bestowed upon the works referred to in the text.




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3. — The L ife o f M a rtin L u th e r : related fro m Original A uthorities. W ith sixteen en­
gravings. By M oritz M eurer . Translated from the German, by a Pastor of the
IJvangelical Lutheran Church. 8vo., pp. 695. New York: H. Ludwig & Co.
This work, we are assured by the compiler, presents the history of the great Reformer
exclusively from authentic sources, and indeed in his own language, or that of his con­
temporaries. M eurer seems to have studied his authorities carefully; and the reader will
discover on every page a critical and minute examination of the voluminous materials at
his disposal, out of which he has produced a connected and harmonious memoir of Luther.
“ His entire additions confine themselves to the connection of the various authorities, the
learned passages, &c., so that they may be compared to the string upon which the pearls
are strung, or the mortar which binds the building stones of a house.” Although the lan­
guage of the memoir may not be as fluent and smooth as if it had come from a single
pen, the reader will doubtless find the deficiency more than balanced by its variety and
freshness, and in the accuracy of the portrait. He will have “ Luther as he actually pre­
sented himself, and as he appeared to those who surrounded him—no ideal, and no cari­
cature f ’ thus leaving the reader to form his own judgment from the materials laid before
him. The great merit of the work, is its objective character—the historical authorities
being skilfully and comprehensively grouped, and throughout the work permitted to speak
for themselves, without any wresting or distinction of their statements by the author.
The correction of the proofs, the preparation of the author’s preface, the contents in the
beginning, and the indexes at the end of the work, were executed by Mr. Ludwig, the
intelligent publisher, a practical printer, and a critical reader as well as an accomplished
speaker of the German language. The work is divided into five parts, each embracing
an epoch in the Life of Luther, including his youth, life in the cloister, the time of the
first testimony, the struggles of the Reformation, the labors of the Reformation, and the
last years of hie life. It is illustrated and embellished with accurate lithographs of Luther
and the prominent men of his time.
4. — A H istory o f the Purchase and Settlem ent o f W estern N ew York, and o f the P ise ,
Progress , and P resent State o f the P resbyterian Church in that Section. By Rev.
J ames H. H otchkin . 8 vo., pp. 600. New York: M. W. Dodd.
The author of this work has been a preacher in the Presbyterian Church in Western
New York ever since 1801, and conversant with the ecclesiastical officers of that section
of the country longer than any other Presbyterian minister. In the present work he re­
lates many things from his own observation and recollection, and some from a vivid recol­
lection of conversations with early settlers many years since ; besides, he had free access
to all the usual sources of information, to which he seems to have applied himself with
great diligence; and the result is, as would naturally he expected, the production of a
very full history of the Presbyterian Church, embraced in all that part of the State of New
York which is bounded on the east by the eastern bounds of the counties of Broome, Che­
nango, and Madison; on the north, by the northern boundary of the county of Onondaga
and Lake Ontario; and on the north-west, west, and south, by the boundaries of the
State. A t the time he commenced his ministry, there were but ten or twelve Presbyterian
ministers in the S tate; and now he gives a history of four hundred and thirty churches of
that denomination, showing an astounding increase in less than half a century. Inter­
spersed with the denominational history, we find a variety of information of general in­
terest, although the unity of the author’s plan seems to be well preserved throughout.
5-— T hrilling Incidents o f the W ars o f the U nited S ta tes: com prising the most S tri­
k in g and Remarkable E vents o f the Revolution , the French W ar , the Tripolitan
W ar, the Indian W ar, the Second W a r w ith Great B ritain, and the M exican W ar.

W ith three hundred Engravings. By the author of the “ Army and Navy of the Uni­
ted States.” 8vo., pp. 600. Philadelphia: Carey & Hart.
This work consists of selections from the various authentic histories, memoirs, and remi­
niscences which have appeared during the last fifty years, and embraces the narratives of
those events which were at once the most striking and important in our national annals.
The compiler displays taste and judgment in grouping the strong points and striking fea­
tures, which indeed form the chief commodity of the work, and affords a vivid and life­
like conception of the whole subject. The imagination of the reader, it is well remarked,
receives a livelier impulse from the sketch than it would from the picture; for what is de­
lineated, in this instance at least, suggests more to the active fancy than if the delineator
had endeavored to place the whole upon his canvass. The work is designed for popular
reading, and is, on the whole, the best collection of incidents bearing upon the military
and naval history of our country that we have ever seen. The numerous engravings will
add materially to its value, in the estimation of the young, at least.




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6. — M odern French L iterature. By L. R aymond de V ericour , formerly Lecturer in
the Royal Athenaeum, Paris; author of “ Milton et la Poesie Epique Member of the
Historical Institute of France, etc., etc. Revised, with Notes alluding particularly to
writers prominent in late political events in Paris. By W illiam S toughton C hase ,
A. M. 12mo., pp. 448. Boston : Gould, Kendall, & Lincoln.
The object of the author of this work is, to give a succinct and clear outline of the in­
tellectual progress of France in the nineteenth century ; to point out several departments
of literature and intellectual development which mark the national progress, and thus in­
duce the reader to turn to the modern literature of France itself for further information.
It seems to us to bear about the same relation to the subject that a comprehensive, welldigested introductory lecture does to any of the sciences; it creates an interest in the study,
and serves as a key to the extensive fields that lay beyond. It contains biographical and
critical notes of all the prominent names in Philosophy, Criticism, History, Romance,
and the Drama; and presents a full and impartial consideration of the political tendencies
of France, as they may be traced in the writings of authors equally conspicuous as schol­
ars and as statesmen. By the side of the host of superficial pretenders, in every depart­
ment, there is a multitude of devout lovers of truth, whom no labor can exhaust, no ob­
stacles discourage, no height of attainment dazzle, and who in every branch of knowledge
—moral, physical, exact, and critical—have carried and are carrying the glorious banner
of true science into regions of investigation wholly unexampled in older times. It is
this class of men, as far as it exists in France, and as far as it can be distinguished by the
judgment of a cotemporary, that the author of this work has grouped together and char­
acterized. The American editor, Mr. Chase, who has been the Parisian correspondent
of several leading periodicals of this country, has performed his task with creditable abil­
ity; his prolonged residence in France, his familiarity with its literature, and personal ac­
quaintance with many of its authors, qualified him for the successful introduction of the
work to his countrymen. The copious notes, embracing a list of contemporaneous French
writers, which Mr. Chase has added to the work, greatly enhances its value. W e should
not omit to mention that the volume is furnished with a likeness of Lamartine, from a
mezzotint, copied from a portrait by the wife of the hero-statesman; which, we are as­
sured, gives a better idea of his countenance and air .than any of the prints which have
lately appeared.
7. — The Women o f the American R evolution . By E lizabeth F. E l l e t , author of
“ The Characters of Schiller,” “ Country Rambles,” etc. 2 vols. 12mo., pp. 348 and
312. New Y ork: Baker & Scribner.
Mrs. Ellet, the compiler and author of this work, experienced many difficulties in pro­
curing u materials sufficiently reliable for a record designed to be strictly a u th e n tic a n d
we are really astonished that she succeeded in collecting so large an amount of informa­
tion concerning the lives and characters of so many of the patriotic women of the Revo­
lution. In no case, we are assured, has the deficiency of material been supplied by fan­
ciful embellishment; and no .labor of research, and no pains of investigation, have been
spared in establishing the truth of the statements. Besides having access to all published
sources of information, the author collected much from private papers and letters in the
possession of descendants. A portion of the sketches, illustrating progressive stages of
the war, are arranged in chronological order. Mrs. Ellet has included in her group, sketches
of nearly one hundred and fifty women, renowned for their wit and their wisdom, their
piety and their patriotism. The work fills a place in our revolutionary history that would
scarcely be complete without i t ; indeed, we consider it as one of the most valuable con­
tributions that have been made to the history of our country in a long time. It is in every
respect creditable to the literary character of the gifted author ; and the publishers have,
as usual, imparted'to it all the benefits of a beautiful dress.
8. —Zi/e, L etters , and L iterary Rem ains o f John Keats. Edited by R ichard M onckton M ilnes . 12mo., pp. 393. New York: George P. Putnam.
The merits of Keats as a poet and man are recognized by every student and lover of
poetry in the country of his birth, and, to quote from the editor, “ have acquired a still
brighter fame in that other and wider England (America) beyond the Atlantic, whose
natural youth is, perhaps, more keenly susceptible of poetic impressions and delights than
the maturer and more censorious fatherland.” The memoir consists, for the most part, of
the private letters of Keats, which convey a clear and beautiful transcript of his mind.
The poems interspersed throughout the volume but confirm the well-established fame of
the poet. It is a beautiful tribute to his memory and merits, rendered by a highly gifted
and discriminating mind.




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9. —M a n and his M otives. By G eorge M oore, M. D., Member of the Royal College
of Physicians, London, e tc .; author of “ The Power of the Soul over the Body,** “ The
Use of the Body in Relation to the Mind,” etc. New York: Harper & Brothers.
The subject discussed in this volume is of the highest moment, inasmuch as it pertains
to man and his motives, and has a religious bearing. The thoughts presented by Dr.
Moore are such as occurred to him while fully occupied in the healing art, and are those
that his intimacy with sufferers and with suffering led him to believe were most needed
and most neglected. Those who have read “ The Power of the Soul over the Body in
relation to Health and Morals,” and “ The Use of the Body in Relation to the Mind,”
designed and executed by the same philosophic mind, will not require one word of recom­
mendation from us, or anybody else. They Will, to quote from our friend, N. P. Willis,
“ jump at such books as these, as one lights a candle on finding himself in a dark and
strange room.” The work combines, in an eminent degree, the spirit of the philosopher
and the Christian.
10. —Home Influence; a Tale fo r M others and Daughters. By G race A guilar . 12mo.,
pp. 412. New York: Harper & Brothers.
This may be said to be not only a story that is a story, but a story that has an aim.
The name forcibly illustrates a mother’s solemn responsibilities, and intense anxiety to
fulfil them. Leaving the beaten track of works written for the young, the writer aims
“ to assist in the education of the heart, believing that of infinitely greater importance than
the mere instruction of the m ind.” It is a simple and beautiful domestic story, the char­
acters in which are all Christian, not sectarian, but inciting a train of serious and loving
thoughts toward God and man, and especially toward those with whom he has linked us
in the precious ties of parent and child, brother and sister.
11. — Posthum ous W orks o f the Rev. Thomas Chalmers, D. D., L L . D. Edited by the
Rev. W illiam H anna , LL. D. Vol. IY. New York : Harper &. Brothers.
This fourth volume of Dr. Chalmers posthumous works forms the first of his “ Sabbath
Scripture Readings.” It is confined entirely to books of the New Testament, commen­
cing with the Gospel of St. Matthew and closing with the Book of “ Revelations.’* The
reflections and comments given in Dr. C.’s readings of the several books of the New
Testament are at once characteristic of the Man and his Theology; and on that account
the horaz biblicce Sabbatica will form an interesting study to the scholar, and a book of
instruction to the readers of popular Christianity.
12. — Cottages and Cottage L ife. Containing P la n s fo r Country Houses , adapted to
the M eans and W a n ts o f the People o f the U nited States; w ith directions fo r build­
in g and im p roving; fo r the laying out and embellishing o f g rounds; w ith some
sketches o f life in th is country. By C. W. E l lio tt . 8 vo., pp. 226. Cincinnati: H.

W . Derby & Co. New York: A. S. Barnes & Co.
The number of works that have been published during the last three or four years on
this subject, indicates a growing disposition to improve the style of American homesteads.
The public have at length discovered that it is not necessary to sacrifice the useful and the
beautiful to economy ; that a tasty, well-proportioned dwelling costs no more than an illshapen, barn-like structure. The volume of Mr. Elliott, before us, illustrates our remark
on this head. His work contains drawings of cottages in almost every variety of style,
with descriptions and the estimated cost of construction, varying from $400 to $3000;
so that the most economical or the most fastidious can scarcely fail of finding something
to meet his ideal of a neat or an elegant “ cottage in the country.” Interspersed through­
out this beautifully printed volume, which, by the way, would adorn the centre table of
one of these tasty residences, we have a series of sketches of “ life, love, and duty ” in
the cottage, evidently the product of a mind that not only understands the science of ar­
chitecture, but the philosophy of home, and of all that makes home desirable and happy.
In a word, the work combines the useful and the agreeable, the pleasant and the profita­
ble ; and is admirably well adapted to the tastes and habits of our people.
13. — The A rt-Journal; A rt-U nion M onthly Journal o f A rts. London': Chapman&
Hall. New York: J. P. Ridner.
The August issue of this beautiful work is equal to any that has preceded it. It con­
tains three line engravings on steel, viz: Salvator, by Joubert, from a painting by Dan
Maclise, R. A., in the collection of the right honorable the Earl of Chesterfield; the Fish­
erman’s Wife, engraved by G. B. Shaw, from a painting by P. F. Poole, A. R. A., in the
collection of W. Sharp, Esq., of Birmingham; andtheCheny Seiler, engraved by Finden,
from a painting by W. Collins, B. A., in the collection of Sir Robert Peel. A work of so
much real excellence deserves a wide circulation in this country.




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14. —School A rchitecture; or Contributions to the Improvement o f School Houses in the
United States. By H enry B arnard , Commissioner of Public Schools in Rhode Isl­
and. 12mo., pp. 369. New York: A. S. Barnes & Co.
No subject of so great importance in a moral, intellectual, and physical point of view,
has perhaps been so much neglected as that to which this volume is devoted, and we hail
its appearance as an indication that public attention is progressing in a right direction.
The author of the work has brought to his task a sound and philosophical mind, and large
experience in all that pertains to the subject of education in its mechanical, moral, and
mental aspects; and the labor of years has enabled him to produce a work of marked ex­
cellence, and of the most unquestionable utility. He maintains, that to make an edifice
good for school purposes, it should be built for children at school, and their teachers; for
children differing in age, sex, size, and studies, requiring, of course, different accommo­
dations ; for children whose health and success in study require that they shall be frequently
in the open air, for exercise and recreation, and at all times supplied with pure air to
breathe; for children who are to occupy it in the hot days of summer and in the cold days
of winter, and to occupy it for periods of time in different parts of the day, in positions
which become wearisome if the seats are not in all respects comfortable, and which may
affect symmetry of form and length of life, if the construction and relative heights of the
seals and desks which they occupy are not properly attended to ; for children whose manners and morals—whose habits of order, cleanliness, and punctuality—whose temper, love
of study and of the school, are in no inconsiderable degree affected by the attractive or
repulsive location and appearance, the inexpensive outdoor arrangements, and the inter­
nal construction of the place where they spend, or should spend, a large part of the most
impressible period of their lives. It is with such views that Mr. Barnard has prepared this
work on school architecture; and in treating of it, he points out the errors to be avoided,
lays the general principles to be observed, and furnishes plans and directions for erecting
and fitting up school houses adapted to the varying circumstances of country and city, of
a small and a large number of scholars, of schools of different grades, and of different
systems of instruction. Indeed, no point of any importance bearing upon the subject has
escaped his penetrating observation. The work is illustrated with plans and drawings of
edifices, and furnishes just the kind of information that should be found in the hands of
the authorities who direct the building of school houses and academies, as well as in the
hands of the practical architect who plans or builds for the public.
15. — Orators o f the Revolution. By E. L. M agoon. New York: Baker & Scribner.
The design of this work is to exhibit the oratorical features of the American Revolu­
tion, to delineate the characteristics of the great leaders of the American forum ; in short,
to fill a vacuum in our literature by a “ critical and comprehensive examination of our
great orators as such.5' The indefinite outline of the orators of the Revolution, to be
gathered from partial descriptions in books of various kinds, is filled up by “ a gallery of
fall-lengths, each distinctly drawn, rounded into symmetrical shape, and colored with ap­
propriate tone.” Each of the portraitures comprehends the earthly career of its subject,
with just enough historical detail to explain the preliminary training and elucidate the pe­
culiar elegance of the individual under consideration. The work embraces sketches of
ten of our revolutionary orators, viz: James Otis, Samuel Adams, Josiah Quincy, John
Hancock, Joseph Warren, John Adams, Patrick Henry, Richard Henry Lee, Alexander
Hamilton, and Fisher A m es; besides four of a later generation, namely, William Pink­
ney, William W irt, Thomas Addis Emmet, and John Randolph. The style of Mr. Magoon is oratorical, but he exhibits a good deal of cleverness in his analysis of character,
abating an occasional extravagance of expression, which appears rather the result of an
enthusiastic temperament than a real want of discrimination. On the whole we consider
it a highly interesting work, as well as a most acceptable contribution to our purely na­
tional literature.
16. — E dw ard V ernon: M y Cousin's Story. By E. V. C hilde , author of articles in the
“ London Tim es” and the “ New York Courier” signed “ A States’ Man.” 12mo.,
pp. 194. New Y ork: Harper &. Brothers.
We have not found time to read this story, but if the author displays the same power
as a writer of fiction as an essayist, the reader may anticipate a full measure of satisfac­
tion in the perusal of “ My Cousin’s Story.”
17. —K irw an Unmasked. A Review o f K irw an. In S ix L etters addressed to the Rev.
Nicholas M u rra y , D. D o f E lizabethtow n, N . J. By the Right R ev. J ohn H ughes,
D. D., Bishop of New York. New York: Edward Dunigan & Brother.
These letters cannot fail of adding to the reputation of the learned Bishop as an able
controversialist.




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18. —Dictionary o f Americanism s . A Glossary o f W ords and P hrases , usually re­
garded as peculiar to the U nited States. By J ohn R ussell B artlett , Corresponding
Secretary of the American Ethnological Society, and Foreign Corresponding Secretary
of ttie New York Historical Society. 8vo.,pp.412. New Y ork: Bartlett & Welford.
This volume embraces a vocabulary of the colloquial language, or such words and
phrases as have generally been considered Americanisms, used in familiar conversation,
both among the educated as well as among the uneducated and rustic classes. By ex­
amining the dialects and provincialisms of those parts of England from which the early
settlers of New England and our other colonies emigrated, Mr. Bartlett has discovered a
striking resemblance, not only in the words commonly regarded as peculiar to New Eng­
land, but in the dialectical pronunciation of certain words, and in the general tone and
accent. He states, in short, without exaggeration, “ that nine-tenths of the colloquial
peculiarities of New England are derived directly from Great Britain ; and that they are
now provincial in those parts from which the early colonists emigrated, or are to be found
in the writings of well-accredited authors of the period when that emigration took place.”
He insists, moreover, that “ the idiom of New England is as pure English, taken as a
whole, as was spoken in England at the period when those colonies were settled.” In
making that statement, he does “ not take as a standard the nasal twang, the drawling
enunciation, or those perversions of language which the ignorant and uneducated adopt.”
It is true, many of our most useful words are abused; but that occurs “ in all countries
and in all languages.” The work is prefaced with an able and elaborate introduction,
and the compilation of the entire collection of words and phrases evinces great research
and the most untiring industry; and, altogether, forms a very valuable contribution to the
philological knowledge of the country.
— P ride and P rejudice. A Novel. By Miss J ane A usten . W ith a Biographical
Notice of the Author. 12mo., pp. 326. Boston: Wilkins, Carter, & Co.
Miss Austen departed this life more than thirty years since, but her works, though nov­
els, have survived ; and the introduction of two of them, “ Self-Control ” and the one be­
fore us, into the “ Home Library” series “ of Entertaining Books” by these intelligent,
discriminating, and worthy publishers, is to our mind pretty conclusive evidence that they
will continue to hold a place in the affections of all who can appreciate the “ true and the
good ” in this branch of literature. But many, who may desire other evidence of the
standard value of her novels, will be satisfied, we presume, with the testimonial of Sir
Walter Scott, said to be recorded in his private diary, after reading “ Pride and Prejudice ”
for the third tim e:—
“ That young lady had a talent for describing the involvements, and feelings, and cha­
racters of ordinary life, which is to me the most wonderful I ever met with. The big
how-wow strain I can do myself, like any now going; but the exquisite touch which ren­
ders ordinary commonplace things and characters interesting from the truth of the de­
scription and sentiment, is denied to me. W hat a pity such a gifted creature died so
early.”
19.

20. — Glimpses o f Home L ife ; or Causes and Consequences. By Mrs. E mma C. E m bury .
12mo., pp. 324. New York: J. C. Riker.
Mrs. Embury is not only a prolific, but a very agreeable writer, as her regular contribu­
tions to some half dozen of our American magazines of light literature satisfactorily de­
monstrate. The present volume is a first attempt at collecting and classing a few of her
numerous contributions to the various periodicals of the day. Considering utility as one
of the essential requisites of popular fiction at the present time, the selection has been
made from those tales only which have a decided practical tendency, or a direct bearing
upon domestic life. Should these sketches receive the same favor from the general reader
that they met with in the pages of the magazines, the author promises a second series.
The volume contains fourteen stories, all happily illustrating home life. W e scarcely
need remark in this place, that their teaching, if not the most profound, is free from every
vitiating influence, and well calculated to improve the minor morals of society, as well
as charm the reader with graceful pictures of domestic life in America.
21. — The O pal: a P ure G ift fo r the Season. Edited by Mrs. S arah J. H ale. New
York: J. C. Riker.
We received this Annual just as our Magazine was going to press; and although we
have not had time to peruse any portion of it, we can say, judging from the table of con­
tents and the list of contributors, that it is rich in promise; and in all that pertains to its
external and artistic appearance, it surpasses any of its predecessors. Several of the il­
lustrations are perfect gems, and the binding is gorgeously beautiful.




The Booh Trade.

463

22. — A M a nual o f Grecian and R om an A ntiquities. By Dr. E. F. B ojesen , Professor
of the Greek Language and Literature in the University of Soro. Translated from the
German. Edited, with occasional Notes, and a complete series of Questions, by the
Rev. T homas K. A rnold , M. A., Rector of Lyndon, and late Fellow of Trinity Col­
lege, Cambridge. Revised, with Additions and Corrections. 12mo., pp. 209. New
Y o rk : D. Appleton & Co.
The English translator and the American editor both consider the present Manual of
Greek and Roman Antiquities far superior to anything on the same topics as yet offered
to the American public. The learned reviewer, Dr. Osenbriiggen, pronounces the Roman
Manual “ a great improvement on all preceding works of the kind.” The American
editor has added explanatory notes where they seemed to be needed, amplified some para­
graphs and sentences which appeared obscure from the studied brevity which Dr. Bojesen
has everywhere observed, giving references to standard English works in history and an­
tiquities. The works are thus rendered as perfect, in their adaptation to the wants ol
American schools and colleges, as could well be desired.
23. — H istorical and Miscellaneous Questions. By R ichmal M angnall . First Ameri­
can, from the eighty-fourth London edition. W ith large additions, embracing the ele­
ments of Mythology, Astronomy, Architecture, Heraldry, etc. Adapted for schools in
the United States, by Mrs. J ulia L awrence . Embellished with numerous Engravings
on Wood. 12mo., pp. 383. New York: D. Appleton & Co.
More than eighty thousand copies of this work, in its original form, have been disposed
of for the use of the schools in England. The American editor made use of it in the
education of her own children, and afterwards into a school of which she had the man­
agement. Feeling the value of the work in its original form, and being convinced that
no book of the kind has ever been compiled so well calculated—to use the words of the
author’s preface—“ to awaken a spirit of laudable curiosity in young minds,” and to sat­
isfy that curiosity, when awakened, in a manner the most concise and clear, Mrs. Law­
rence has rearranged the work, adapting it more particularly for the use of schools in this
country by adding the history of the United States and other matters of almost equal im­
portance, which had been entirely omitted. In its present improved form, it must prove
a valuable addition to the school literature of this country.
24. — Researches in the Chemistry o f Food, and the M otion o f the Juices in the A nim al
Body. By J ustice L iebig , M. D., Professor of Chemistry in the University of Gressen.
Edited, from the Manuscript of the Author, by W illiam G regory , M. D., Professor
of Chemistry in the University of Edinburgh. Edited, from the English edition, by
E ben N. H osford, A. M., Rumford Professor of Chemistry at Cambridge. 12mo., pp.
219. Lowell: Daniel Bixby.
The importance of the principles evolved in this work must impress itself on every one
interested in the preservation of health. The susceptibility of some persons to changes
in the condition of the atmosphere, the value of Franklin’s air bath, the advantages of
regular sea or fresh-water bathing, some of the effects of hydropathic treatment, the con­
sequences of draught on vegetation, the renewed greenness and life after a shower, the
influence of winds blowing from off a sheet of water, a mountain, or a sand plain, and
many other phenomena hitherto but obscurely understood, all find a more or less perfect
explanation in the experimental results of Dr. Liebig, and are recorded in the pages of
this work. The subjects of the preparation of meat for food by boiling, roasting, and
stewing; the true nature and proper mode of preparation of soup ; and finally, the changes
produced in meat, not only by the above processes, but by salting, and the conditions ne­
cessary in each case to ensure the digestibility and nutritive qualities of flesh or soup, are
here, for the first time, investigated on scientific principles; and in all these points chem­
istry is found to be the means of throwing light on that which was obscure, and of im­
proving medical practice by the application of rational principles.
25. — The Im m igrants’ Guide, and Citizens’ M anual: a W ork fo r Im m igrants o f all
Classes to the U nited States o f N orth America, w ith Directions and valuable Inform ­
ation fo r Travellers. By J. W. W arren , A. B. 18mo. New York: C. M. Saxton.

The title of this work briefly explains its object. It contains not only valuable informa­
tion condensed into as small a compass as possible, respecting travel, health, soil, climate,
prevention of fraud, and the like evils, but includes a clear and comprehensive geographi­
cal view of the country, with its constitution, government and laws, education, moral con­
dition, occupation, &e. It contains valuable information not only for emigrants from fo­
reign countries, but for the native Americans, and its details and statements are generally
accurate and reliable.




464

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.

—A P anoram ic View fro m B unker H ill M onum ent. Engraved by J ames S m illie
from a Drawing by R. P. M allory . Boston: Redding & Co. New York: H. Long
& Brothers.
The view from Bunker Hill Monument, for varied beauty and extent, is unquestionably
one of the finest in the country or the world, and “ is rendered doubly interesting from the
fact of its embracing so many places intimately associated with important events connect­
ed with the history and patriotism of the country.” The city of Boston, and its relation
to the surrounding country, is favorably and accurately presented to the eye from the point
of view selected. At one glance is seen all the railroads, seven in number, and every
other avenue connecting Boston with the country. The panorama is accompanied by a
key explaining nearly two hundred objects of interest, and occupies a sheet of about five
feet in length and one in width. It is drawn with great accuracy, and beautifully engra­
ved on steel. The engraving is folded into a neat and attractive volume, with satisfactory
letter-press illustrations.
26.

27. — Oration pronounced by the Honorable Robert C. W inthrop , Speaker o f the House
o f R epresentatives o f the U nited S tates , on the Ath o f J u ly , 1848, on the occasion o f
layin g the Corner-stone o f the N ational M onum ent to the memory o f W ashington.
W ith an Introduction and an A ppendix. Published by order of the N ational M onu­
S ociety . 8 vo., pp. 47. Washington.
The National Monument Society were fortunate in their selection of an orator for the
occasion. Without attempting an analysis of the oration, which our limits do not of'course
admit, we cannot refrain from expressing our appreciation of a performance that would
add to the reputation of any of our American statesmen. Happy in conception, scholarly
and felicitous in style, every page glows with a chastened eloquence, and a noble and gen­
erous patriotism that must have made a deep impression upon the minds and sympathies
of all who listened to its delivery. It is free from all party narrowness of view, and fur­
nishes a truthful and beautiful portrait of the saviour of his country—the immortal W ash­
ington. It is as nearly faultless as any human performance can well be.
ment

28. — Talm udic M a xim s , translated fro m the H ebrew ; together w ith other sayings , com­
piled fro m various Authors. By L. S. D ’I srael , Teacher of Hebrew and German.
18mo., pp. 197. Boston: James French.
This little volume consists of several thousand maxims and sayings, partly translated
from the Talmud, and partly collected from choice authors; combining the concentrated
wisdom, morality, philosophy, learning, etc., of truth-inspired men in all ages, if not in
all nations. The principles and rules deduced from them must at all times be appreciated
by every philosophic mind. It is a good book for those who have more time, for thinking
than reading; and there is more pith and point in one of these short paragraphs, than in
the labored essay or sermon of many a learned divine.
29. — The T riune , or the E xistence o f one God in three persons, F ather , Son, and Holy
Ghost. By the Rev. T imothy A. T aylor . Boston: James French.
The proofs brought forward in the first part of this work in favor of the existence of
God, fewr will be disposed to controvert; not so, however, in regard to the doctrine of the
Trinity, which many honest minds are led to reject. The arguments are presented in a
concise form, and the writer displays considerable ingenuity and ability in the discussion
of the subject.
30. — Scriptural Heroes; or, Sketches o f the P u rita n s, their Character and Times. By
J ohn S toughton, with an Introductory Letter by J oel H awes , D. D. New York : M.
W . Dodd.
Dr. Hawes considers this one of the most readable works of the day. It is written in a
style of elegant symplicity, and abounds with thrilling and instructive interest. It is not
a continuous historical narrative, but rather a series of paintings, presenting in strong and
vivid colors some of the principal characters and events which are recorded in the annals
of English history, in the times of the Puritans and Non-Conformists. The learned Dr.
II. recommends the volume to all who love fine writing, noble sentiments, and a knowl­
edge of such characters as truly deserve the name of “ Scriptual Heroes.”
31. — D unigan’s Popular Library o f A m usem ent and Instruction. New Y o rk : Edward
Dunigan & Brother.
“ Clara, or the Red and White Races,” from the German of Christopher Von Schmid,
is the title of the last of this admirable series “ of small books of moral tales ” for “ little
people.” In typographical beauty, this series surpasses anything of the kind.