Full text of The Merchants' Magazine and Commercial Review : September 1848, Vol. XIX, No. III

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THE-

M E RCH AN TS’ MAGAZINE,
E sta b lish ed J u l y , 1 8 3 9 ,

BY FREE HIS 1IUXT, EDITOR AND PROPRIETOR.
V O LUM E X IX .

SEPTEMBER,

CONTENTS

OF

1848.

N U M B E R III.

N O . III., V O L . X I X .

A R T I C LE S.
ARf.

PAGE

I.

THE HISTORY AND PRINCIPLES OF ANCIENT COMMERCE.—L e c t u r e II.—THE
COMMERCE OF ANCIENT GREECE. Origin of Civilization—Early History of Greece
—Security of Private Property—Attica—Sparta—Administration of .Justice—Laws referring
to Trade—Courts of Law—Establishment of Cities—Advantages of Cities—Proper Situations
for Commercial Cities—Athens—Corinth—Syracuse—Markets and Fairs—Festivals—Ancient
Legislation with regard to Fairs—Monetary and Banking Institutions—Coin and Banks of
Athens—Commercial Character of the Greeks. 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............................................................ 243
II. E G Y PT : THE CRADLE OF TH E GRECIAN ARTS.......................................................... 261
III. COMMERCIAL CITIES OF EUROPE.—No. VII.—ROUEN. Rouen—Its Situation-Com ­
merce—Imports and Exports—Entrepot—Manufacturing Industry—Cotton Spinning—Wool
Spinning—Dyeing—Weaving and Printing of Cotton—Manufacture of Woollen Cloths—
Bleaching—Chemical Products—Other Manufactures—Fairs and Markets.—TOULOUSE.
Its Situation—Commerce— Manufacturing Industry— Commercial Institutions— Navigation.. 265
IV. LAW REFORM IN NEW YORK, AND ITS MERCANTILE ASPECT.......................... 271
V. STATISTICS AND HISTORY OF THE BRITISH COTTON TR A D E: a n d o f t h e ^
M a n u f a c t u r e o f C o t t o n G o o d s .—C h a p t e r IY.—Value of each description of goods J
exported from 1832 to 1846—Average price of each description of manufactured cotton goods
exported in each year from 1831 to 1816—Cotton manufactures and yarn exported from Great
Britain from 1697 to 1830—Quantity of cotton wool imported and exported from the year
1697 to 1846, etc....................................................................................................................... '275-281
VI. THE CAUSE O F COMMERCIAL PANIC3. F rom a P a p e r r e a d b e f o r e T nE D u b l in
S t a t is t ic a l S o c ie t y . By J a m e s A. L a w s o n , Esq................................................................ 282
VII. COMMERCIAL CITIES AND TOWNS OF THE UNITED STATES.—No. X I . - S an d u sky

C it y , O h io . . . . ' . . .................................................................................................................................... 287

VIII. THE LACKAWANNA AND WYOMING COAL REGION. B y J a m e s H. L anm an , Esq. 290

MERCANTI LE LAW CASES.
Lockwood’s Reversed Cases—Fraudulent Trust.......................................................................................... 294
The Law of Patents—Improvement in the Machine for pressing Palm Leaf Ilats................................. 296
Action of Assumpsit to recover Money paid to the city of Boston...........................................................298
Suits to recover back Usurious Interest........................................................................................................ 299
Questions of Liabilities of Trustees—Contracts made on Sunday void, unless for Works of Necessity
or Charity............ .......................................................................................................................................300

C O M M E R C I A L C H R O N I C L E AND R E V I E W ,
EMBRACING A FINANCIAL AND COMMERCIAL REVIEW OF TIIE UNITED STATES, E TC ., ILLUSTRATED
W IT H TABLES, ETC., AS FOLLOWS \

Influence of Political Affairs on Commerce—Indirect Taxes of France—Imports into France in 1847-8
—Rates of Foreign Bills in New York—A pro form s, of Mexican dollars to France—American gold
in London—Imports into the port of New York—Customs revenue at Boston, Philadelphia, and
New York—Money markets—United States Revenue and Expenditure for the fiscal year 1848—Ac­
counts from Europe—Production of Breadstuff’s in England—Average price of Wheat in England
for the last four years—Grain taken out of bond in the United Kingdom for the last twenty years—
Land sold in Western States in each year from 1832—Exports of Leading articles of United States
produce at different periods—Acres of Land sold in South-western States—Cotton crops of South­
western States from 1833 to 1848, etc., etc........................................................................................ 301-309
16
VOL. X IX .---- N O. I I I .




242

CO NTEN TS OF N O. I I I . , VO L. XIX,
PAGE

J O U R N A L OP B A N K I N G , C U R R E N C Y AND F I N A N C E .
Finances of B“azil—Expenses, Debt, and Revenue of Brazil from 1842 to 1847..................................... 309
Banks applying for Charters in Pennsylvania............................................................................................. 309
Banks of the State of New York, their Location and Names of Agents................................................. 310
New Monetary Organization in Holland.................................................................................................... 312
Statistics fif Banks and Banking in Ireland................................................................................................. 313
Condition of the Banks in Ireland from 104G to 1847................................................................................. 315
Condition of all the Banks in Maine on the 1st of May, 1848................................................................... 316
Bank of England rates of interest from 1694 to 1848................................................................................. 318
Chinese Currency—Bank notes invented by the Chinese.................................................... .*.................... 319
Coinage of the Dutch Mint in 1847.............................................................................................................. 320
Legacy Duties paid in Great Britain—British Stamp Duty.........................................................................320

COMMERCIAL STATISTICS.
Commerce and Navigation of Brazil—Principal Imports and Exports from 1843 to 1845......................
Value of the Exports and Imports of Brazil to each Country in 1844 and 1845 .......................................
Imports and Exports, and Duties on both, of Brazil in 1844 and 1845.......................................................
Navigation of Brazil from 1843 to 1845......................................................................................................
Brazilian shipping registered at the port of Rio Janeiro.............................................................................
Wool Trader f the United States from 1842 to 1847..................................................................................
Prices of Wool in New York from 1843 to 1848........................................................................................
Produce received at New Orleans from the Interior...................................................................................
Trade of the United Kingdom with the United States from 182G to 1846................................................

321
322
322
323
323
323
324
325
325

COMMERCIAL REGULATIONS.
Act of Congress to prevent the Importation of adulterated and spurious Drugs and Medicines into the
United States................................................
326
Eastern Boundary of Texas extended by an Act of Congress................................................................... 328
Change of Duties upon Imports into Peru...................................................................................................329
Regulations adopted by the Massachusetts Mackerel Inspectors................................................................ 329
Act in Relation to the Mutual Insurance Companies in New York...........................................................330
Weight of Salt Regulated by an Act of the New York State Legislature................................................330
Yacht Navigation Regulated by an Act of Congress.................................................................................. 331
Liquidation of Claims against Mexico...........................................................................................................331
Belgian Commercial Regulations—Collection District of Brunswick, Georgia........................................ 331

RAI LROAD, CANAL, AND S T E A M B O A T S T A T I S T I C S .
Statistical account of the Railroads cf Ireland........................................................................................... 332
Rate of Freight and Fares on sixty-eight Railroads in the United States................................................. 333

NAUTICAL INTELLIGENCE.
Steamers Lights—to Prevent Collision............................................................................................................ 337
Light house on Lake Superior—Lantern on Cape Espichel....................................................................... 337
Quarantine Regulations at St. Petersburgh....................................................................................................337

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 .
Statistics of Mines and Mining in Ireland................................................................ ................................... 338
Singular Discovery in the Copi er Region of Lake Superior..................................................................... 340
A New Clasp Counting Joint for Joining Steam and other Pij es.............................................................. 340
Morocco Dressing in Brooklyn—Broadcloth Factories in America........................................................... 341
Manufacture of American Parchments—Brooms made from White Ash.................................................341
Song of the Gold Workers—Improvements in Paper Making.................................................................... 342
Important Improvement in the Chick—Improvement in the Nail Manufacture....................................... 342

MERCANTILE MISCELLANIES.
Jealousy of Trade.........................................................................................................................................
Effects of the Cotton Culture and Trade......................................................................................................
American Provisions in England—Mercantile Acquisitiveness.................................................................
Commercial Education—The Amber Trade................................................................................................

343
344
345
346

THE BOOK T R A D E .
Comprehensive Notices of New Works, or New Editions.




347-352

HU N T’S

MERCHANTS’ MAGAZINE
AND

COMMERCIAL REVIEW.
S E P T E M B E R , 1 8 48.

Art. I.— THE HISTORY AND PRINCIPLES OF ANCIENT COMMERCE.
LECTURE II.

T H E COMMERCE O F A N C IE N T GREECE.
O R IG IN

or

C IV IL IZ A T IO N — E A R L Y H IS T O R Y OP G R E E C E — 8 E C D R IT Y OF P R IV A T E P R O P E R T Y — A T T IC A —

S P A R T A — A D M IN IS T R A T IO N O F J U S T IC E — LA W S R E F E R R IN G T O T R A D E — C O U R T S OF LA W — E S T A B L IS H '
M E N T OF C IT IE S — ADVANTAGES OF C IT IE S — P R O P E R S IT U A T IO N S FO R CO M M ERCIA L C IT IE S — A T H E N S
---- C O R IN T H — S Y R A C U SE — M A R K E T S AND F A IR S — F E S T IV A L S — A N C IE N T L E G IS L A T IO N W IT H
TO

F A IR S — M O N ETA R Y AND B A N K IN G

REGARD

IN S T IT U T IO N S — COIN AND BA N K S O F A T H E N S — CO M M ERCIA L

C H A R A C T E R OF T H E G R E E K S .

T he early history of Greece, like that of all other countries, is involved
in fable and obscurity. The aborigines were found in a state of savage
life, and the civilization which had spread in Egypt and Babylon was to
them totally unknown. We should not, however, infer from this and oth­
er similar cases, that the savage state is the natural state of man. If men
had been created savages, they would have remained savages for ever.
It is the property of ignorance to be contented with itself. It is impossi­
ble for men to desire those acquisitions of the existence of which they
have no knowledge. The history of the world does not present us with
a single instance of a nation of savages having become civilized by their
own spontaneous exertions. Wherever barbarous nations have become
civilized, civilization has been imported, and has been acquired by an in­
tercourse with civilized nations. There is abundant evidence that pre­
vious to the Deluge mankind were in a state of civilization. The individu­
als who were preserved from that Deluge were in a state of civilization.
The first exertion of Noah was to plant a vineyard, a circumstance which
shows an acquaintance with an advanced state of civilized life. The arts
and sciences with which he was acquainted, he would, of course, commu­
nicate to his descendants, and thus civilization would be perpetuated.
Those families who settled in the plains of Babylon and in Egypt never
appear to have lost their acquaintance with the arts of civilized life. Sev­
eral reasons may be assigned for this. In the first place, their lands were




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The History and Principles o f Ancient Commerce:

so fertile that it did not require the labor of the whole community to raise
food, and hence those whose labor was not applied to the cultivation of
the earth, devoted themselves to the practice of the mechanical arts, and
to the study of the sciences. Secondly, as food was so abundant the popu­
lation of these countries increased very rapidly ; hence there was a great­
er subdivision of labor, and a consequently greater production of the com­
forts and conveniences of life. Thirdly. These countries were extensive
plains, and, consequently, as the inhabitants multiplied they did not take
their journey to distant lands in search of new settlements, but cultivated
the neighboring districts. Hence, the intercourse of the different tribes,
or families, was maintained. Any new discovery in the social arts was
quickly known to the whole community, and thus civilization was ad­
vanced.
On the other hand, those families ,of men who had travelled to countries
intersected by mountains, soon lost their intercourse with each other.
When a nation became too populous, a part of them, under the guidance
of some chosen leader, crossed the mountains, or the rivers, in search of a
new habitation. Their intercourse with the country they had left was
forever renounced ; and, as their numbers were few, and the exertions of
the whole tribe necessary for the raising of food, they had no leisure to
cultivate the arts of luxury; nor even any of those mechanical arts which
were not essential to existence. Hence, in the course of a few genera­
tions, many of those arts became forgotten, and those tribes who again
branched from them became increasingly ignorant, and ultimately fell into
a state of savage barbarity, Such, we think, was the process by which
some families of mankind, originally civilized, fell into barbarism.
In this barbarous state was ancient Greece. After the lapse of some
centuries, various colonies of Egyptians and Phoenicians who were civili­
zed nations, settled on the coasts, and introduced the arts of civilization
among the inhabitants of the country. They established the rights of
property, the form of civil government, and taught the people many useful
arts with which they were previously unacquainted. The original inhabi­
tants of the country having abundance of fertile land which they knew not
how to cultivate, and finding the advantage they received from the supe­
rior knowledge of the colonists, invited such settlers, and submitted to their
government. These colonists were not, however, settlers sent out by their
countries to which they belonged, but were independent tribes, who, from
various causes, had gone in search of new habitations, under the guidance
of some favorite leader. Attica, the capital of which was Athens, is said
to have been colonized by Cecrops, an Egyptian, in the year 1556, before
the Christian era.
Greece was thus necessarily divided into a great many small states.
Though the boundaries between these states were sufficient for defence
against aggression, they did not prevent a free intercourse between the
respective inhabitants. There was a commercial traffic carried on between them. The corn, or the wine, or the wool, or the olives of some
states, were exchanged against the metals or the manufactures of the oth­
ers. At first, nearly the whole commerce of Greece was confined to that
carried on between the respective states. Their foreign commerce was
very limited. The only civilized nations then known to them were the
Persians, the Egyptians, and the Phoenicians. The whole of Europe,
with the exception of Greece herself, was in the same state as Tartary,




The Commerce o f Ancient Greece.

245

or the uncultivated parts of America at the present day. Neither the Per­
sians nor the Egyptians were commercial nations. But the Greeks traded
with the Phoenicians, and obtained, through them, the productions of India,
of Africa, and of other parts of the world.
,
Afterwards the Greeks planted colonies on some of the islands of the
Mediterranean Sea, and on the coasts of Asia Minor ; and considerable
traffic was carried on between these colonies and the parent states. This
commercial intercourse, carried on between the continent of Greece and
the colonies, would serve to keep up a maritime force, and promote the
art of ship-building and navigation. At a later period, when the whole
naval force of Greece was placed under the command of Athens, her pow­
er and commerce considerably increased. By means of her shipping, she
not only traded directly with all the colonies, but even conducted the car­
rying trade between the colonies themselves. In time, many of the colo­
nies became distinguished for their commercial prosperity, and most of
them possessed an independent government. As a whole, Greece, from
the variety of her productions— the ingenuity and activity of her people—
the number of her islands—the great extent of sea-coast, and the excel­
lence of her harbors,—had many commercial advantages, which contribu­
ted vastly to her wealth. Athens, from the superiority of her fleet, ex­
tended her commerce more widely, and in her markets might be found
the produce of all the other parts of Greece.
The facts connected with the history of Greece suggest a few commer­
cial propositions, which I will now endeavor to illustrate.
I. Commerce is promoted by the security of private property.
No man loves labor for its own sake. If any man be industrious, it is
in hopes of obtaining a future good,— and if the rewards of successful in­
dustry may be suddenly snatched away, no man will labor to acquire them.
Hence a state of savage life can never be a commercial state. Before
» commerce can exist, a nation must be sufficiently strong to protect itself
against the attacks of other nations-; and a government must be establish- ed to protect the property of one citizen from the rapacity of another. In
the original state of Greece, no commerce could exist; but, as the rights
of property became respected, and industry became sure of reaping the
fruits of its exertion, then commerce became gradually extended.
But, for the purposes of commerce, not only should there be a security
of property, but there must also be a right of private property. This ob­
servation arises from a view of the Social Institutions of Sparta. The
laws of Lycurgus abolished private property. The citizens fared all alike
—they feasted together at public tables, and wore the same attire. The
highest man in the state could not be distinguished by his dress from the
meanest. Luxury was abolished—the coarsest food was provided—gold
and silver wore prohibited, and money made of iron only was allowed.
The citizens were all soldiers, who lived together in a common camp,
bound together by a romantic attachment towards their country, but ex­
hibiting no humanity towards their slaves, nor any social feelings of regard
for each other. Here was a nation of soldiers, without even that taste for
luxuries in which soldiers usually indulge. No individual could acquire
wealth, for what he possessed belonged to the nation, and the nation had
no motive to accumulate wealth, because their laws prohibited those com­
forts which wealth procures. Here was savage life reduced to a system
—a system which required the sacrifice of all the social feelings of our




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The History and Principles o f Ancient Commerce:

nature. A Spartan mother asked a soldier, returning from the army,
“ Is our army victorious?” The soldier replied,—“ Your son is killed.”
“ Fool,” replied she, “ I did not ask about him ; I asked if our army was
victorious.” No institution could possibly be more anti.commercial.
II.
Commerce is promoted by an impartial administration of public
justice.
The right of private property can be secured only by law ; and the laws
affecting property are more numerous in commercial than in other coun­
tries ; because the modes of acquiring and conveying property are more
numerous, and the rights of different claimants cannot be so easily defined.
Commerce is affected by all laws relating to the production of commercial
commodities—the mode of transferring property—the facility of transport
—the laying on of taxes, or the punishment of crimes. Besides these
general laws, which affect all branches of commerce, there are in many
countries laws affecting particular trades, or the export or import of par­
ticular commodities.
The Athenians had laws which restricted exports. They prohibited
the export of all things which their land did not produce in greater abun­
dance than was required for home consumption. Thus figs, and all other
kinds of fruit, except olives, were prohibited, as were also wool and pitch.
The land of Attica was barren, neither tillage nor pasturage prospered,
but it produced abundance of olives. The olive was considered sacred to
Minerva. According to the legend, w'hen the city of Athens was first
built, Neptune and Minerva contended which should give a name to the
city, and they agreed that which of them should make the most useful
present to man, should be entitled to name the new city. Neptune struck
the ground and produced a horse. Minerva produced the olive. All the
gods decided in favor of Minerva, alleging that the olive, which is the
emblem of peace, is more useful than the horse, which is the emblem of
war. And here it may be observed, that among the ancients, horses
were used only in w a r; the operations of agriculture were performed by
oxen ; and for riding mules were employed. Athens was then an export­
er of olives, and an importer of corn. Besides olives, Athens had for ex­
port honey, and marble, and the produce of her copper and silver mines ;
and in later times, a variety of elegant works of art. We may observe
here, that olives were not eaten as an article of food, but the olive oil was
used in a variety of ways,—in anointing the person—in burning in lamps
—in the making of bread, and other ways where we are accustomed to
use butter. Honey was of very extensile use, as the ancients had no su­
gar. The description given of Canaan—a land flowing with milk and
honey—must have been very attractive to a people unacquainted with
either tea or sugar.
The laws of Athens also regulated imports. It was an object to en,
courage the importation of corn, of timber and other materials for ship­
building. If any Athenian factor or merchant conveyed corn to any other
place than to Athens, an action was to be brought against him, and the
informer might claim half the corn ; and to prevent forestalling, no inhabi­
tant of Athens was allowed more than a certain quantity, fixed by law.
There were also laws at Athens for the regulation of particular trades.
Fishmongers were not allowed to put their fish in water, to render them more
saleable. A fishmonger, who overrated his fish, and afterwards took less.




The Commerce o f Ancient Greece.

247

than he had first asked for them, was to suffer imprisonment. No seller
of seals was to retain the impression of one he had sold.
There was also general laws referring to trade. No man was to exer­
cise two trades. No foreigner was allowed to sell wares in the market,
or to exercise any trade. He who obtained great repute, and was es­
teemed the most ingenious in his profession, was to receive a mark of
honor. Any one might bring an' action of slander against him who re­
viled or ridiculed another on account of his trade. At Athens, theft was
punished by fine, imprisonment, or death, according to the nature of the
offence ; but at Sparta, theft was never punished, unless the thief was
caught in the act. Whoever lived an idle life, squandered his father’s
property, or refused to support his parents when in want, was declared in­
famous. But if the father had neglected to bring up his son to some trade,
the son was not bound to maintain his father, although in want. It was
incumbent on the members of the Areopagus to inquire by what means
every person subsisted—a regulation supposed to have been borrowed
from the ancient Egyptians.
There were several courts of law in Athens. In most of them the
judges were taken from the citizens at large, by lot, and the number of
judges varied from 50 to 2,000. When the judges were so numerous, it
followed necessarily that some of them were not qualified to fill the office.
Every citizen was eligible to be a judge, and was paid a certain sum for
every cause he tried. From the judges being so numerous, and changing,
possibly, at every trial, there was often a want of uniformity in their deci­
sions, and the strict letter of the law was not always observed. Hence
Aristotle, in his “ Rhetoric,” thus addresses young pleaders:— “ If,” says
he, “ the law is in your favor, you must contend for the sanctity of law.
You may state that the only difference between a savage and a civilized
state is, that one has laws and the other has none. But we may as well
be without laws, if they are not to be observed. But if,” adds he, “ the
law is against you, then say that law is mere convention—that what is
law in one state is not law in another—and what is law to-day may not
be law to-morrow ; and hence we should always be guided by principles
of equity, which being natural and universal, must be superior to law.’*
At Athens, the parties might plead their own cause, or employ advo­
cates. In case advocates were employed, they were allowed a certain
time to speak, according to the importance of the case. An equal quanti­
ty of water was given to each advocate. When one commenced speaking
the water was set running through a vessel like an hour-glass, and when
the water stopped running the advocate must stop speaking.
The highest court in Athens was the Areopagus. The archons, or
chief magistrates, became judges in this court, after their year of office
had expired. The meetings of the court were held in the open air, partly
because it was considered unlawful that the criminal and accuser should
be under the same roof, and partly that the judges, whose persons were
esteemed sacred, should contract no pollution from conversing with pro­
fane and wicked men. They also heard and determined all causes at
night, and in darkness, that they might not be influenced in favor of the
criminal or the accuser, and that no one might know the number, or dis­
cern the countenances of the judges. This court took cognizance of al­
most all crimes, vices, and abuses. All matters connec\ed with religion
were referred to the judgment of this court. You will recollect that the




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The History and Principles o f Ancient Commerce:

Apostle Paul was brought before it upon a charge of being a setter forth
of strange gods. The reputation of this court was at one time so high,
that even foreign states, when any differences happened among them, vo­
luntarily submitted to its decisions.
III. Commerce is promoted by the formation of towns and cities.
We may form a tolerably correct estimate of the degree of civilization
and knowledge that may exist in a country, by the proportion of the popu­
lation that live in towns and cities. Men who are scattered over a wide
surface have not the same means of improving their knowledge as .when
they are assembled in a smaller compass. In cities there is a great di­
vision of labor, and hence each branch of industry is improved. In ci­
ties, too, there are many persons carrying on the same branch of trade,
and hence there is a perpetual rivalry, which tends to improvement. In
cities, too, there are associations for various purposes, and means of acquir­
ing literary and other information, which has the effect of enlightening
the population, and consequently of improving the arts. .
Commerce tends to the formation of cities. The place of imports and
exports soon becomes densely populated. The seat of manufactures must
always be a place where a number of workmen can be assembled to­
gether. The high wages which are given for labor induces laborers to
leave the country districts, and resort to commercial cities. As the arts
and sciences are found in greater perfection in cities, people who wish to
pursue them resort thither. Young men commencing life go to cities, be­
cause all kinds of labor are better rewarded, and because the demand for
it is more regular and constant. Hence, as the commerce of any place
increases, its population increases also—the demand for labor is greater,
and it furnishes more of the comforts and luxuries of life.
Commercial cities are usually found on the coasts of the sea, or on the
banks of rivers. In cases where the source of the river is in the same
country, a city is usually built at the place where the river ceases to be
navigable for large ships. Such is the case with London, and also with
Waterford. W ere the city built lower down the stream, part of the ad­
vantages of the river would be lo st; and were it built higher up, larger
ships could not approach it, and their cargoes would have to be discharged
into barges, and thus conveyed to the city.
The cities of Greece were not formed for purposes of commerce.
Many of them were built at a distance from the sea, in order to avoid sur­
prise from pirates, who, in the earlier periods of Greece, were in the habit
of visiting their coasts. The chief commercial cities were Athens, and
Corinth, and Syracuse, and the capitals of the islands of Crete and
Rhodes.
Athens, the Capital of the State of Attica, was about two miles from the
sea, but had fortified walls passing from the city to the coast, so that it had
always a free access to the harbors. The soil of Attica was barren, but
Athens acquired commerce by her fleet and her manufactures, and her
power over some of the other states of Greece. Athens, in its most flour­
ishing state, was one of the largest and most beautiful cities in Greece,
and was above twenty-two miles in circumference. The citadel was built
upon a high rock in the middle of a plain ; but as the inhabitants increased,
buildings were erected over the whole plain, and these, in distinction from
the citadel, were called the lower city. Every city in Greece had its
temple, its theatre, its gymnasium, or place for public exercise, and its




The Commerce o f Ancient Greece.

249

forum or market-place. In Athens all these were numerous. A gymna­
sium was a large edifice, consisting of various parts, and capable of hold­
ing several thousand people. It contained places for the youth to perform
their exercises, and apartments for the philosophers to deliver their lec­
tures. It also contained baths for the refreshment of the citizens, and
the whole was surrounded by a garden and a sacred grove. Athens, too,
had halls in which companies of tradesmen met, and deliberated on mat­
ters relating to their trade. To show that trade was not considered an
ignoble employment, it is stated that Solon engaged in merchandise, and
Plato sold oil in Egypt.
Corinth owed its commerce to its sifuation. It stood on the Isthmus of
Corinth ; and when navigation was so imperfect, mariners preferred land­
ing their goods on one side of the isthmus, and passing them by land to the
other, rather than sail round the peninsula. Corinth became remarkable
for her manufactures, especially those formed of metals, and her earthen­
ware. Corinth, also, became celebrated for her wealth, and her attain,
ments in the arts. She owed her greatness entirely to commerce. Athens
was the capital of the chief state in the Greek confederacy. She was
the place of fashionable resort. She was the school of science. She
was the place where men of wealth chose to reside ; and besides, she re­
ceived the revenues of several tributary states. But Corinth had none of
these advantages. It was to commerce, and to commerce alone, that she
stood indebted for her greatness. And yet, in the splendor of her edifices
—in the wealth and luxury of her citizens, she was one of the most con­
siderable cities in Greece. The beautiful order of architecture which
bears her name was here invented, and may be considered as a standing
illustration of the influence of commerce in promoting the cultivation of
the fine arts. It is true that here, as at Athens, the fine arts were asso­
ciated with laxity of manners. But if we are called upon to abandon the
fine arts because they have ministered to voluptuousness, may we not, with
equal propriety, be asked to renounce the abstract and physical sciences,
because they have been employed in the service of infidelity ? To the
Christian church at Corinth the Apostle Paul addressed two epistles, in
which are allusions to the exercises practised at the Isthmian games,
which were celebrated every third year, in the immediate neighborhood
of the city.
Syracuse was the capital of the island of Sicily. It was originally
founded by a colony from Corinth. The colonists, after the example of
the parent state, applied themselves to commerce, and so successfully, that
Syracuse was considered to rival even Carthage in wealth. In its best
estate it was twenty-two miles in circuit, and was remarkable for its con­
venient port, its elegant buildings, and splendid public edifices. It long
maintained its power as an independent state, and withstood attacks from
both the Athenians and the Carthagenians, but was ultimately taken by
the Romans. The siege, however, was protracted for three years, by the
mechanical contrivances of Archimedes.
Crete, the largest of the Greek Islands, is said to have contained a hun­
dred cities. At one time it possessed considerable maritime power, but
its power and its character afterwards declined. Both sacred and profane
writers state that the “ Cretans were always liars
and in later times,
their conduct added but little to the fame of Greece.
Rhodes was remarkable for the purity of its climate and the excellence




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of its wines. It was also famous for its Colossus of brass, that bestrode the
harbor, so that the largest ships could sail between its legs ; it was 70 cu­
bits or 105 feet high, and was supposed to contain 720,000 lbs. weight of
brass. It stood for 85 years, and was then thrown down by an earth­
quake.
IV. Commerce is promoted by the establishment of markets and fairs.
A fair is a large market, and a market is a small fair. The word fair
is derived from the French word foire, which is derived from the Latin
word forum, which signifies a market. The word market is derived from
the Latin word mercatus, and is of the same derivation as mercantile.
Markets are held more frequently than fairs, and are established chiefly
for the sale of the produce of their neighborhood. At Athens, the forums,
or market places, were numerous. The old, or principal one, was a large
square, where the people used to assemble, and where commodities were
exposed to sale. Collectors attended in the forum, to receive the duties
laid on everything that was sold, and magistrates to superintend what
passed. There each trade had a separate market, as the baker’s market,
the fish market, the oil market, and many others ; and different hours were
appointed for the sale of different commodities. As this was the most
frequented part of the city, workmen of all kinds endeavored to reside near
it, and in it houses let at a higher price than anywhere else. The Scy­
thians kept in pay by the republic to maintain order, were encamped in
the middle of the forum.
In the early ages of the world, nearly all the traffic between nations,
and even between districts of the same country, was carried on by peri­
odical fairs. The foundation of a city was always commemorated by the
institution of a festival. As the city was usually dedicated to some deity,
this festival was considered a religious festival. Whenever a large con­
course of people assemble, a degree of traffic is necessarily produced.
The merchants attended to supply the multitudes with such articles as they
required ; hence, these periodical seasons of festivity became seasons of
traffic. In those times, all merchants were retailers. A merchant went
to a distant fair, and purchased goods. He brought those goods to another
fair, where there was a demand for them, and sold them to those who had
occasion to consume them. The import merchant and the retailer were
the same person. It is not until nations have become highly civilized and
wealthy, that the retail business is carried on as a distinct branch of trade.
To buy at once a large stock of goods, and to sell them in small quanti­
ties, as they may be required, is a branch of business that can be carried
on only in a settled and populous country. A few centuries ago, even in
England, if a man wanted to buy a piece of cloth or of silk, he must have
waited till the next fair-day ; at present, shopkeepers can supply the pub­
lic immediately with most of the commodities that were formerly obtained
at fairs. Annual fairs are still, however, kept up in some places, chiefly
for the sale of live stock, and agricultural produce.
It was an object of all ancient legislators, to establish markets and fairs.
Moses required that all the males in the country should appear three
times in the year at Jerusalem. Though the chief object of this regula­
tion was, no doubt, to keep up in the minds of the people a sense of reli­
gion, yet a secondary object was to facilitate the internal trade and comjnerce of the country. These religious festivals were public fairs, and wo
find, from the history of the New Testament, that traffic was sometimes




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251

.carried on even in the temple itself. On this subject, we quote the lan­
guage of Michaelis, in his 4Commentaries on the Laws of Moses.’
“ When we speak of commerce, we must distinguish between the inter­
nal commerce of the people with one another, and that which is carried on
with other nations, especially by sea. For the former, with which no
state can dispense without great disadvantage, provision was made by the
three festivals, to the celebration of which all the Israelites were assem­
bled thrice every year. Conventions of this nature, instituted for religious
purposes, have generally, withal, been made instrumental to the purposes
of commerce. Our Messen (fairs) have their names from (Missce,) masses
which were sung at particular seasons, and to which, in catholic times,
people from all countries resorted. As here there were buyers, of course
there came, also, merchants with their commodities, and thus arose yearly
fairs. The holy pilgrimages to Mecca gave, in like manner, an impulse
to the trade of Arabia. Hence, we see, that although in the Mosaic in­
stitutions, the interests of internal commerce were indirectly consulted, it
was only in such a manner that the carrying it on could not become a dis­
tinct employment, but could merely occupy the weeks of leisure from the
toils of agriculture,— before harvest, at the feast of the Passover,—after
harvest, at the feast of Pentecost,—and on the conclusion of the vintage,
at the feast of Tabernacles.”
In the same way public festivals were established in all the cities of
Greece. Each city had its festivals, as parishes in some parts of E ng­
land have their feasts and their wakes. Each state had its festivals in
honor of its founder, or to commemorate important events. And besides
these local festivals, there were other festivals of still more dignity common
to all Greece. These were the Olympic games, celebrated every fourth
year at Olympia ; the Pythian games, celebrated every fifth year at Del­
phi, in honor of Apollo ; the Nemean games, celebrated every third year
at N em ea; and the Isthmian games, celebrated every third year near
Corinth.
These games produced good effects. First. They gratified the social
feelings. The games consisted of contests between runners, wrestlers,
boxers, horse racing and chariot racing, and in some places of regattas.
Frequently, too, those philosophers who had written books, read them at
the games, for the art of printing being then unknown, this was the most
effectual way of circulating knowledge among the people. Secondly.
These festivals being all sacred to the gods, and accompanied by sacrifi­
ces, served to keep up in the minds of the people sentiments of religion.
This probably was the chief reason why all the legislators of antiquity es­
tablished seasons of festivity ; for they all seemed to-be aware that senti­
ments of religion were essential to the existence of civil society. Thirdly,
They secured the purposes of commerce. Here merchants and manufac­
turers brought their goods, and persons who wished to purchase came to
buy.
Every motive induced the Greeks to attend these public festivals. The
man of piety went to pay his homage to the immortal gods ; the man of
literature and science went to converse with the philosophers, and to lis.
ten to their lectures ; the man of pleasure went to see the horse racing,
and the chariot racing, and the wrestling, and the theatrical exhibitions ;
and the man of business went to buy and to sell, and to get gain. Here,
in her most splendid temples, Religion received the costly offerings of the




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crowds who thronged to do her homage. While, in the groves of Science,
beneath a sky as pure and serene as ever soothed the passions, or as nur­
tured thought, the philosopher poured into the ears of his auditors, who
were seated around him, those instructions which his own travels, or his
own reflection had supplied. While on the neighboring plain, Pleasure
in a variety of forms, gladdened the hearts and softened the manners of
all her votaries.
During the middle ages, to establish a fair was the prerogative of our
kings ; and all persons holding a fair without a charter, were liable to a
penalty. The privilege was usually granted to a corporate town, or to a
favprite nobleman, or to a religious establishment. Persons frequenting
the fairs were exempt from arrest for debt during the fair, and during the
time of going and returning. The parties to whom the privilege was
granted, were usually allowed to impose tolls or customs upon the goods
which were sold. These fairs, too, were often regarded as sacred to some
particular saint. The only fair of this kind now remaining in London, is,
as you know, dedicated to St. Bartholomew.
Whenever a market is established, there are regulations appointed by
the magistrates with reference to the weights and measures. Most of our
measures of length appear to have been derived from parts of the human
body. Thus, carpenter’s work is measured by the foot. We speak of a
horse being so many hands high. In measuring cloth, we have a nail,
the sixteenth part of a yard; the ell, which means the arm ; the yard is
half a fathom. When a person stretches out both his hands, the distance
from the finger of one hand to the middle finger of the other is styled a
fathom, and half that distance is a yard ; a cubit is the distance from the
elbow to the finger, the word cubit means elbow. The present yard,
consisting of thirty-six inches, was fixed by Henry I., who fixed it at that
measure, as that was the length of his own arm. A pace is another mea­
sure, signifying as far as we can step. With regard to the ancient mea­
sures, we are not aware of any connexion between the measures of length,
the measures of weight, and the measures of capacity. This connexion
has been fixed in our own country by the Act of Parliament establishing
the imperial measure. A cubic foot of distilled water contains a thousand
ounces avoirdupoise, and sixteen of these ounces make a pound. If, there­
fore, all our pound weights were to be lost, or the standard become un­
known, we could easily ascertain the right weight by filling a cubic vessel
with water, and taking 16-1000ths for the pound.
By the same act, the gallon measure is to contain ten pounds of distilled
or rain water. So that, if the gallon should be lost, we could ascertain
the standard gallon by weighing out ten pounds weight of water, and the
vessel which would hold exactly that quantity would be a gallon. Thus,
all our weights and measures depend upon linear measures ; the foot mea­
sures the pound, the pound measures the gallon.
It is of importance that there should be only one weight and one mea­
sure throughout the country, and also that articles sold by weight in one
part of the kingdom, should not be sold by measure in another part. Corn
is sold by weight in Ireland, and by measure in England. A barrel of
wheat, in Ireland, does not mean as much wheat as will fill a barrel ; it
means a weight of twenty stone, of fourteen pounds to the stone ; a barrel
of barley is sixteen stone, and a barrel of oats fourteen stone.
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V.
Commerce is promoted by institutions which facilitate the circula­
tion of money.
There are two institutions which tend to the circulation of money—a
mint and a bank.
In my former lecture, I mentioned that the Egyptians used as money,
gold and silver bullion. The Greeks, however, were, at a very early pe­
riod, acquainted with the art of coining. In every nation, the coining of
money has been considered a prerogative of the government, and each
nation has adopted some peculiar device to place upon the coin. Kings
have usually placed their heads on one side of the coin, and the national
emblem on the other. The coin of most nations is of a circular form,
though there are some exceptions.
W ere we to form what we should call “ a Pence Table ” for Grecian
money, we should say,—
6 oboles make one drachma.
100 drachmas make one mina.
60 minas make one talent

An obolus was a silver coin, worth about three-halfpence of our money.
There was also a silver coin, called a semi-obolus or half obolus, worth
three farthings. And there were also silver pieces of two oboles, three
oboles, four oboles, and five oboles. Then came the drachm, a silver
coin, worth six oboles, or about ninepence of our m oney; and there were
also two-drachm pieces, and four-drachm pieces^—all these were of silver.
Although the Athenians had mines of copper, they seemed to have a
great aversion to a copper coinage. And hence, to express low values,
they made their silver coins so small that they are said to have resembled
the scales of fishes. Ultimately they were persuaded to the use of copper
coins, though the orator who advocated the measure was afterwards nick­
named “ the man of brass.” The smallest copper coin was the eighth of
an obolus-—equal to three-fourtbs of a farthing.
Gold was not abundant in Greece, and gold coins were not numerous.
The chief, if not the only one, was the didrachm, or two-drachm piece,
called a stater, equal in value to twenty silver drachms, and worth above
fifteen shillings of our money.
The Athenian coins had a figure of Minerva on one side, and the figure
of an owl, the bird sacred to Minerva, on the other. But the coins of dif­
ferent states, and of different ages, differ very much from each other ; and
hence some of our learned men have been abundantly puzzled upon mat­
ters connected with the coins of Greece.
We may observe, that in a point or two the coinage of Greece resem­
bled that of England. At one time all our coins were of silver ; gold was
not coined till the year 1344, nor copper till the year 1609 ; and to denote
small values the silver penny was cut into halves and quarters, called half­
pennies and fourthings or farthings. When copper was coined this prac­
tice was prohibited, and the small leaden tokens previously issued by pri­
vate individuals were suppressed.*
The Greeks had no coin for the mina (3Z. 15s.), nor for the talent
(2251.) These were “ monies of account,” in the same way as we reck­
oned all our money by “ pounds sterling,” although for centuries we had
no coin exactly equal to a pound.
* See Gilbart’s History and Principles of Banking.




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Banking institutions cannot flourish in any society in which property is
insecure, whether that insecurity arises from the tyranny of the govern­
ment, the turbulence of the people, or the incursions of foreign enemies.
In oriental countries, where the possession of wealth invites the rapacity
of the government, people conceal their wealth by burying it in the earth,
and hence we read in Scripture of “ treasures hid in the field.” A similar
practice prevailed in Europe during the times of the feudal system ; and
treasure-trove was a source of royal revenue, as all the concealed treasure,
when found, belonged to the king. In the early ages of Greece property
was very insecure ; partly from the turbulence of the people, partly from
the incursions of the neighboring states. In this state of society, the tem­
ples were employed as banks. People who had got money lodged it with
the priests, and the sanctity of the place preserved it from violation.'
Even hostile tribes would not take this treasure, lest they should incur the
vengeance of the deity to whom the temple was consecrated.
But though the temples served one purpose of banks, that of being a
safe place for the deposit of treasure, they did not supersede banks formed
for other purposes; and when society became more advanced, the trade
of banking was carried on by individuals. The operations of oriental
banking are thus referred to in the parable of the slothful servant who had
hid his talent in the earth—-a very common practice in the East—instead
of placing it with a banker :— “ Thou oughtest to have put my money to
the exchangers, and then at my coming, I should have received my own
with usury.” These bankers were money-changers, money-borrowers,
and money-lenders. They exchanged small coins for large ones, and the
money of their own country for that of strangers. They also borrowed
money. They received and paid out money at their tables in the same
way as bankers now keep current accounts with their customers. They
also received large sums— “ talents ”—on which they allowed interest—
“ usury.” The rate of Athens was usually 12 per cent per annum, or
rather 1 per cent for every new moon. People who were about to go a
journey left their money with their bankers upon interest, to receive it
“ on their return.” In most of these bargains there were no witnesses,
and sometimes a banker would deny having received the money; but if he
did this more than once, he lost the confidence of the public. These bank­
ers were, of course, money-lenders, otherwise they would have no use for
the money they had borrowed. The business of a banker consists in bor­
rowing of one party and lending to another; and the difference in the rate
of interest which he gives and receives forms the source of his profit.
The bankers of Greece did not lend their money by discounting bills of
exchange, as bills did not then ex ist; but they lent it chiefly on personal
security to persons who were engaged in trade, or who wanted it for other
purposes. They often lent to merchants who were fitting out a cargo for
a foreign port. In this case, the banker would send a person in the ship
to receive payment of the loan, as soon as the cargo was sold. At other
times the banker would wait for payment until the return of the ship. As
the banker thus shared in the risks of the voyage, the rate of interest paid
to him was sometimes so high as 30 per cent. But though a banker
might lend to a merchant for the purpose of fitting out a cargo, neither he
nor any other citizen could send his money abroad, except in exchange
for corn, or for some commodity allowable by law. He who suffered his
money to be exported for other purposes was to bo prosecuted—to have no




The Commerce o f Ancient Greece.

255

writs or warrants issued against the persons to whom he had lent the money—and the archons were not to permit him to institute any trial in the
judicial courts.
There were no usury laws at Athens. Every banker could charge or
allow what rate of interest he pleased ; but if he agreed to one rate, he
could not afterwards charge a higher rate. Among individuals usury was
practised io a great extent. The failure of a banker always caused a
great sensation, and sometimes he was obliged to hide himself, in order to
escape the popular indignation. A similar feeling appears in after times
to be excited on such occasions in the Italian states. You are aware that
the word bank-rupt arises from the practice of breaking the benches or
seats in the market-place of those Italian bankers who were unable to
discharge their obligations.
Thus we find that the commercial principles suggested to us by the his­
tory of Greece are, that commerce is promoted—-by the security of private
property—by the impartial administration of public justice— by the forma­
tion of towns and cities—by the establishment of markets and fairs—and
by institutions that facilitate the circulation of money.
We shall now consider the commercial character of the Greeks.
1. The Greeks were superstitious. “ Ye men of Athens,” said St. Paul
to the Athenians, “ I perceive that in all things ye are too superstitious;”
and at that time the city was “ wholly given to idolatry.” A merchant
should not be “ superstitious.” He should not be a devotee, nor allow the
ceremonial observances of religion to interfere with the duties of the
counting house. But he ought at all times to remember that there is a Su­
perior Power, who “ giveth to all life and breath, and all things, and who
hath made of one blood all nations who dwell'on the face of the earth,”
who “ giveth us rain from heaven, and fruitful seasons, filling our hearts
with joy and gladness,” who “ commands the winds and the seas, and they
obey him,” and who “ giveth the power to get wealth.” When a merchant
of Greece was about to take a voyage, he went to the Temple of Minerva,
or of Neptune, or of Mercury, or of some god that was presumed to preside
over his particular calling, and implored a benediction on the enterprise
he was about to undertake, and on his return he placed a portion of his
gains, as a thank-offering, on the altar of the deity whose assistance he
had invoked. Athens, who owed her greatness mainly to her fleet, and
Corinth, who gained her wealth by her manufactures, were remarkable
for the number of their temples. A portion of the wealth obtained by
commerce was thus consecrated to the service of religion. Ye Christian
merchants, and manufacturers, and ship-owners, go to Athens, to Corinth,
to the other maritime cities of Greece, and amid the, ruins of temples,
reared in part by the commerce of a former age, see if ye cannot gather
lessons for your own instruction. If their religion was superstitious, and
existed apart from morality, will not your condemnation be the greater, i£
with a more enlightened faith, and a purer code of morals, you exhibit
less devotion ?
2. The Greeks are accused of having been regardless of their oaths.
The inhabitants of every state in Greece have been subject to this accu­
sation. When a Greek appeared as witness in a Roman court of justice,
his evidence was received with suspicion. If they were regardless of
their oaths, it may be inferred that they were still more regardless of their
word. We cannot imagine a greater defect in the commercial character.




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If a merchant wishes to maintain his respectability, he must punctually
perform all his agreements, and all his promises. Tell me not that the
matter in which you have failed is of no importance. Be assured that it
is of importance. However trifling the matter may be in itself, your hav­
ing promised to perform it has made it of importance. It is of importance
to your own character that you keep your word. If you are regardless of
your word in matters of little importance, you will soon become equally
regardless in matters of greater moment. “ He that is unfaithful in little
is unfaithful also in much.”
3. The Greeks were very litigious. Men of a strong imagination, and of
a great subtlety of genius, are prone to become litigious ; their imagination
misleads their judgment, and their subtlety finds arguments to support
their erroneous opinions. There is no profession more respectable—none
more essential to the existence of civil society, than that of the la w ; but
fondness for litigation shows a corrupt taste and a depraved heart. It is
best for a merchant to have no dealings with such people ; for, however
cautious he may be, some point may be raised which will involve him in
a law suit, and should he even gain the Gause, the success will not com­
pensate for'the anxiety and the delay it will occasion. “ Law,” says Mr.
Stephens, in his *Lecture on Heads,’ “ is like a new fashion, people are
glad to get into i t ; and law is like a shower of rain, people are glgd to
get out of it.” One bad effect of a fondness for litigation is, that it has a
tendency to produce a disposition to take the law of the land as the stand­
ard of morality. This is a great error. The law sanctioned the African
slave trade, but that did not make it innocent. The law allows you to
give to your laborers any wages they may be willing to accept, and to em­
ploy them for as many hours a day as they are willing to work ; but if you
take advantage of their necessities to exact from them hard bargains, you
shall not be morally guiltless. If you have been a bankrupt, and have
obtained your certificate, the law will not allow your creditors to enforce
payment of your debts ; but you are, nevertheless, morally bound to pay
them should you ever have the power. Beware of supposing that what is
not illegal is, therefore, not immoral. There are many vices and crimes
which human laws cannot reach. You may, in various ways, act unjustly
and dishonorably without violating the letter of the law. You must, there­
fore, learn to distinguish between law and justice, and not take advantage
of legal quibbles, either to enforce claims to which you have no right, or to
exonerate yourselves from responsibilities to which you are justly liable.
4. The Greeks were deficient in habits of business. W e are told in
the Acts of the Apostles that, “ All the Athenians and strangers which
were there, spent their time in nothing else but either to tell or to hear
some new thing.” A newsmonger is seldom a good man of business.
Habits of business is a phrase which includes a variety of qualities—in­
dustry, arrangement, calculation, prudence, punctuality and perseverance ;
and these virtues are exercised, not from the impulse of particular motives,
but from habit. If you hear a man boast of being industrious, you may
safely infer that he does not possess the habit of industry; for what a man
does from habit, he does mechanically, without thinking of the merits of
his actions, though they may be highly meritorious. The Greeks were
inquisitive and active, capable of immense exertion when under the stimu­
lus of powerful motives, but when the stimulus was removed, they sunk
into frivolity. They were eccentric, capricious, fickle, and possessed none




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of that steady uniformity of character necessary to men of business. Those
who are fond of drawing paralleis between ancient and modern nations,
have fancied that there is a resemblance between the ancient Egyptians
and the modern Spaniards—the ancient Greeks and the modern French
—the ancient Romans and the modern English. Perhaps, in some points,
these parallels may hold good, but in others they are defective. However
that may be, it is certain that habits of business are essential to a mer­
chant. But though essential to a merchant, they are not peculiar to him.
They are as necessary to a professional man as to a m erchant; as neces­
sary to ladies as to gentlemen ; as necessary for the government of a fami­
ly as for the government of a commercial establishment. The greater the
intellectual talents of the individual, the more necessary are habits of bu­
siness to keep him steady in his course. The more canvass he spreads,
the more ballast he requires. If we examine the history of those illustri­
ous characters who have risen to eminence, as the masters, the legisla­
tors, or the instructors of mankind, we shall find they have been as much
distinguished by their habits of business as by the superiority of their intel­
lect. While, on the other hand, we could easily point out, in every
science and in every path of life, some young men who, though of tower­
ing genius, have become lost to themselves, and have disappointed the
hopes of all their friends through a want of habits of business. They have
burst upon the world with more than noontide splendor ; they have attract,
ed universal notice ; they have excited big expectations, and suddenly
they have darted into an oblique course and passed into oblivion.
5.
The Greeks were fond of amusement, and kept many holidays. • The
ancient nations were chiefly agricultural, and in all agricultural nations
holidays are numerous in the intervals between the seasons of agricultural
labor. As nations became commercial the number of holidays was re­
duced. The operations of commerce are more uniform throughout the
year, and time at all seasons is valuable, and hence the annual amount of
labor is considerably increased.
Too many holidays are a national evil. They consume time that might
be usefully employed,—they destroy the habit of industry, so that even the
labor of the working days is less productive,—and they often lead to im­
moral practices. On the other hand, incessant labor has a tendency to
impair the faculties of both body and mind. Intervals of recreation are
essential to health. It is perhaps essential to healthy and vigorous exist­
ence that a portion of every day should be passed in amusement, or at
least in some kind of exercise different from that required by our profes­
sional calling. And he who employs a portion of the day in improving
his mental powers, or in acquiring knowledge, even when that knowledge
has no immediate reference to his profession, is more likely to acquire
professional distinction than he who blunts his powers by a course of mo­
notonous exertion.
The amusements of a merchant should correspond with his character.
He should never engage in those recreations which partake of the nature
of gambling, and but seldom in those of a frivolous description. A judge
is not always on the bench, a clergyman is not always in the pulpit, nor
is a merchant always on ’change ; but each is expected to abstain at all
times from any amusements which are not consistent with his professional
character. The credit of a merchant depends not merely on his wealth,
but upon the opinion generally entertained of his personal qualities ; and
.
17
VOX,. X IX .---- N O. I I I .




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he should cultivate a reputation for prudence and propriety of conduct as
part of his stock in trade.
There is one holiday which a merchant should always observe—he
should always observe the Sabbath day.
The design of the Sabbath is to ensure an interval of bodily repose,
more especially for the humbler classes of society ; to change the current
of thought, and thus to preserve the mental powers in a state of vigor and
freshness ; to give leisure for reflection, and thus enable man to look above
him, and around him, and within him, and consider his own character and
destiny; and to furnish opportunity for the discharge of those duties of
piety, of kindness, and of benevolence, which devolve upon him as a moral
and religious being.
The institution of the Sabbath day must not be regarded as diminishing
the sum of annual labor. By improving the habits and invigorating the
mental powers, it increases the annual produce of labor, both in regard to
nations and individuals.
The labor of Sunday tends not to wealth. It is not the man who “ adds
Sunday to the week ” of toil, who employs that holy day in attending to
his ordinary business or in making up his books—no, it is not he who is
in the surest road to riches. It is the man who when the Sunday dawns,
feels his mind expand with new and exhilarating and ennobling associa­
tions ; who, accompanied by his fh-mily, appropriately attired, pays his
morning homage in the temple of religion, and passes the remainder of the
day in works of charity or piety, or in innocent relaxations corresponding
with'the sanctity of the day—that is the man who, by improving the intel­
lectual, the moral, and the social faculties of his mind, is adopting the
surest means of acquiring wealth and respectability in the world.
They greatly err who imagine they are pleading the cause of the poor
when they endeavor to remove the religious sanctions of the Sabbath day.
Should the mass of the population once entertain the impression that the
observance of Sunday is not required by religion, but is merely a matter
of convenience or expediency, the poor will then have no security for ces­
sation from toil. Reasons will soon be found, based apparently upon a re­
gard for the poor, for increasing their labor. Let the Sunday be regarded
no longer as a day of devotion, but merely as a day of pleasure, and it will
soon become a day of toil.
Were the Sunday abolished, the poor man would receive no more w a­
ges for his seven days labor than he now does for his six. His scale of
comforts would be reduced, as he would have no occasion for a Sunday’s
attire. His opportunities of social intercourse and of moral improvement
would be abolished. In this and in other cases it is shown that religion,
while she is the guide and solace of the wealthy, is pre-eminently the
friend and guardian of the poor.
6.
The Greeks were proficients in knowledge. They excelled, not
only in those sciences which depend on taste and imagination, such as the
fine arts, bpt also in those which depend on the abstract powers of the in­
tellect, such as logic and geometry. In some others they were inferior to
the moderns. In the various branches of natural philosophy they were
much inferior, especially in chemistry. Electricity and galvanism were
wholly unknown. In natural history, botany, and mineralogy, their
knowledge was limited. In mathematics, they understood algebra and




The Commerce o f Ancient Greece.

259

geometry, but were unacquainted with logarithms and fluxions. In as­
tronomy and navigation they were unequal to the moderns, and also in the
mechanical arts. Though Archimedes had machines by which he could
raise a ship out of water, yet the Greeks were ignorant of the power of
steam, and seem never to have applied the pressure of the atmosphere,
the force of the wind, or of a current of water to any of their mechanical
engines. The various philosophical instruments we possess, such as tel­
escopes, microscopes, barometers, thermometers, and others, though they
have names derived from the Greek language, are the invention of mod­
ern times. But though unacquainted with recent discoveries, the Greeks
manifested in the sciences they studied the highest flegree of intellectual
strength. Nothing shows more strongly the power of m i n d than the influ­
ence which, after^he lapse of thousands of years, the Greeks still possess
in our own days. The demonstrations of Euclid still bear sway in our
schools. Aristotle still regulates our mode of thinking and of reasoning.
Homer is still regarded as the. first of poets, and Demosthenes as the first
of orators ; while our architects and our sculptors are not the rivals, but
only the imitators of those of ancient Greece.
Knowledge is necessary to a merchant. The same kind of knowledge
which is necessary to a statesman is necessary to a merchant. To carry
on extensive commerce he must be acquainted with the productions of
every part of the world. He should know where any commodity is found
in abundance, and where it is deficient;—what are the habits and opin­
ions of all the nations of the earth ; and what will be the effect of any pro­
posed measure or of passing events upon different branches of trade.
Such is now the rapidity of communication, that the events of a distant
part of the world may affect the price of an article even of home growth.
The price of whiskey, for instance, in Waterford, may be affected by the
produce of the sugar crops in the West Indies—the harvest of Russia—
the vineyards of Portugal or of France. Ignorance of other countries may
involve the merchant in serious loss. It would be a bad speculation to
send a cargo of wine to Turkey, for the Mahometans are forbjdden to
drink wine. Soon after the independence of the South American colo­
nies, some merchants sent out a large quantity of machinery to work the
mines of Peru, but they were so unacquainted with the country that they
did not know that there were no roads leading to the mining districts, and
the people had no wheel.carriages, hence'the steam-engines were left to
rust on the coast. I have been told by a provision merchant that the price
of bacon in Waterford is affected by the price of cabbages in London.
The English people are in the habit of eating bacon and cabbage togeth­
er ; and, when there is an abundant crop of cabbages in England, there
is a greater demand for Irish bacon. But a merchant should not only have
an extensive knowledge of facts, but also of principles. Not only should
he be acquainted with the natural history of the commodities in which he
deals, and the various processes they undergo before they become articles
of merchandise—not only should he know the habits, tastes, characters,
and mercantile laws of the various nations of the earth, he ought also to
study the various circumstances which influence the rate of wages, the
fluctuations of prices, the scale of profit, and the value of money, and also
the effects of the imposition and abolition of taxes, and the general princi­
ples of national finance.




260

The History and Principles o f Ancient Commerce.

In conclusion, we may remark, that commerce has been in our time the
chief means of extending the knowledge of the arts and sciences. No
new discovery can be made in the sciences, or any new invention in the
arts, but by means of our extensive commerce it is quickly known through­
out the world. The winds of commerce have wafted the seeds of science
to every land ; they have fallen and taken root, and in every country they
have visited we now see the trees of knowledge stretching wide their
branches, adorned with blossoms and laden with fruit.
Our extended commerce furnishes one of the surest guarantees for the
permanence of modern science. Greece and Rome were overthrown,
and the sciences were buried beneath their ruins. But modern science
depends not upon the conquest of a city or the subversion of an empire.
If the present seats of science should again be deluged with barbarism,
commerce would receive into her ark the germ of every science, and per­
petuate in distant regions every species of intellectual excellence.
N ot only may we expect that modern civilization will be permanent,
but we may expect that it will increase. W hen we see what a spirit of
daring enterprize is diffused by commerce throughout the whole popula­
tion.—when we see what mighty powers are daily engaged in endeavor­
ing to enlarge the boundaries of science—when we see what exertions
are making to extend education throughout all classes of the community—
who can tell what will be the result 1— who can tell but that the lower
classes will be raised as high in knowledge as the higher classes, and the
knowledge of the higher classes be proportionably advanced—that this
will be the case not only in one nation, but in every nation— and that the
whole world, in this high state of improvement, shall go on to make fur­
ther and still further discoveries, until human society shall attain a degree
of perfection of which we have no conception 1 Who can tell but the hu­
man mind, thus placed in new circumstances, shall exhibit powers which
it is not now known to possess, and society shall be advanced as far above
its present state of civilization as its present state is superior to that of the
savage ? Who can say to the human mind—Thus far shalt thou advance,
but no farther ? Go, arrest the motion of the winds— stop the diurnal revo­
lution of the earth, or stay the planets in their course. Do this, and then
— but not till then—hope to arrest the progress of the human mind.
Great is truth, and shall prevail. As certain as the laws of nature— as
certain as the appearance of Aurora foretells the rising sun—so sure shall
the present twilight of knowledge be succeeded by the blazing splendors
of meridian day.




E g y p t: the Cradle o f the Grecian Arts.

261

Art, II.— E G Y P T : T H E C R A D L E OF T IIE G R E C I A N A R T S.*
I t has been the general belief that we are indebted to the Grecians
and Romans for most, if not all the arts existing at the present era.
There are various causes for this belief: first, historians and other writers,
in treating of these countries, continually laud them for what they have
done in inventing the arts and sciences. Another reason is, that students,
in passing through college, devote the greater part of their time in acquir­
ing a knowledge of the Greek and Latin, or Roman languages, and they
thus imbibe, almost imperceptibly, the opinion that the Grecians and Ro­
mans were the inventors of all that is beautiful and classic. It is true
that Greece deserves great credit for the advances made in the arts,
sciences, and trades, introduced from Egypt ,; for it is to the Egyptians that
Greece is indebted for all that which has rendered her so justly celebra­
ted ; or, to employ the language of him to whom we are indebted for a
knowledge of the very facts we are asserting, namely, Champolleon :—
“ Egypt owes only to itself all that which it has produced of the great, the
pure, and the beautiful; and the arts commenced in Greece by a servile
imitation of those in Egypt, which were much more advanced than is com­
monly believed, at the epoch when the first Egyptian colonies were in
contact with the savage inhabitants of Attica, or of Peloponnesus. An­
cient Egypt taught the arts to Greece, and this last gave them the highest
development; but without Egypt, Greece would never have become the
classic land of the fine arts.”
To show that I am not speaking at random, I will proceed to rqention
some of the arts that were practised in Egypt about three thousand five
hundred years ago, while Greece was either uninhabited, or in a state of
barbarism.
First, Architecture —although it is the prevailing opinion that the
different orders of architecture had a spontaneous generation in Greece,
as will be seen by the following passage from Mitford’s History of Greece,
one of our standard works. This author says, “ they (the Grecians) not
only improved and ennobled the arts derived from the Lydians and Phry­
gians, but invented others, long peculiar to themselves, particularly paint­
ing, and sculpture in marble, together with the Grecian and Ionic orders of
architecture.”
Iff order to prove the fallacy of Mitford’s assertions, in which received
histories generally agree, in relation to architecture, (I shall speak of
painting and sculpture hereafter,) I quote both Champolleon and Rees.
The first writer remarks, “ that one of the most beautiful of all the tombs
at Beni Hassen carries its date to the reign of Osortasen II., king of
* F r e e m a n H u n t , Esq— D e a r S i r :— In the winter of 1842, having considerable lei­
sure titne, I was induced, at the solicitations of a learned friend, to read a work published
in Paris entitled “ Letters written from Egypt, by M. Champolleon.” I became so much
interested iu it, that I translated a number of the letters, and compared them with our
generally received opinions of that country. My attention once arrested, I bestowed much
attention to the subject, and finally, at the suggestion of the same person who advised me
to read the work, I wrote the accompanying manuscript, with the intention of having it
published at some future day. Now, sir, being one of the class your Magazine is specially
'intended to benefit, having been a subscriber some time, and always an attentive and in­
structed reader, it W'ould afford me the greatest possible gratification to see the enclosed
printed there.
Yours, truly,
D. T . j.




262

E g y p t: the Cradle o f the Grecian Arts.

the twenty-third dynasty, and is consequently as remote as the ninth cen­
tury before the Christian era.” “ This tomb,” says Champolleon, “ is
sustained by Doric columns, without a base, as in the Pastern, and all the
fine Grecian Doric temples.” The latter author, Rees, remarks that
“ both pillars and entablature have been produced from the ancient tombs
at Beni Hassen ; and that peculiar ornament, the Greek Scroll, is found
here in as great variety and richness in the temples and tombs of the
Pharaohs, as in the noble structures of Pericles.”
Writers, generally, in treating upon the subject of architecture, have
supposed that it had its origin in Greece, and was transferred from that
country to Egypt; and this is now the prevailing opinion. Whereas the
beautiful temples of Thebes were constructed immediately after the ex­
pulsion of the shepherd kings, and long before the first shades of civili­
zation were visible in Greece.
P ainting , which Mitford says “ is a Greek invention, was practised in
ancient E g y p t;” although other writers upon this subject have said the
Egyptians painted, but were incapable of giving their subjects expression,
or action. Champolleon, during his researches in the tombs at Beni
Hassen, discovered a great number of paintings, in water colors, all rela­
ting to civil and military life ; and he caused exact drawings to be made
of the entire collection, and by this means has enlightened us upon many
points of which we were previously ignorant. The trades, of which I
shall presently speak, are represented in these drawings with the greatest
fidelity. M. Champolleon, in his work, says, “ the paintings of the tomb
of Nepthop are true water colors, of a fineness and beauty of design truly
remarkable. They are the most beautiful I have seen here in E g y p t:
the animals, the quadrupeds, birds and fishes are all painted with such
fineness and truth, that the colored copies I have made resemble the col­
ored engravings of our finest works of natural history.” By this, it may
be seen the Egyptians were not only able to paint, but to blend colors.
Tytler, in his History of the World, under the head of Egypt, remarks,
“ that the artists were only able to exhibit figures in profile, with their feet
together, their legs straight, and their arms hanging close to the body.”
The London Encyclopaedia, a work which I have used for reference, re­
marks upon the same subiect, “ that little action was given to figures, and
no attempt made at expression.” Now, among the drawings copied by
Champolleon are a series representing one of the three classes of Egypt,
namely, the military caste, and one of these drawings exhibits two able
wrestlers attacking, defending, retiring, advancing, standing, lying pros­
trate, & c .; also, one entire series of his drawings consisted of the portraits
of kings, and other great personages. We may, then, imagine to what
extent the art of painting was carried, when we reflect that the Egyptian
artists were competent to paint portraits; and we see by these drawings
that the two authorities previously cited were in error.
S culpture in Marble. This is another of the arts which Mitford has
bestowed upon Greece the honor of inventing, and is one of the many arts
transferred from Egypt to Greece. There are still remaining, at Thebes,
a number of statues, more or less dilapidated, of the great king Sesostris,
who reigned about one thousand five hundred years before the Christian
era. These statues are all of exquisite workmanship, and bear a strik­
ing analogy to each other, showing the artist was not only able to execute
t




E g y p t: the Cradle o f the Grecian Arts.

263

the workmanship in a masterly manner, but was enabled to transfer the
features and expression to marble.
Some of the higher branches of the sciences were practised here with
some success. Among them may be mentipned Astronomy, Astrology,
and Algebra. I believe, however, the Egyptians were here but imitators,
as all the sciences just named were introduced from India. Algebra was
an invention of the Hindoos, although the credit of its invention is bestowed,
generally, upon the Arabians, which is one of the popular errors of the
day.
We may judge something of the chemical skill of the Egyptians by their
embalming the dead, and their preparation of colors for painting, which
now, more than three thousand years after they were used, are still as
fresh as iflaid on but yesterday! This skill none of our artists can pre­
tend to possess.
The alphabet, it is supposed, was an invention of Thoth, an Egyptian
king. This king, it is believed, is the Hermes, or Mercury of the Greeks.
The credit of this invention has been given to different nations and per­
sons. Some historians unhesitatingly bestow the entire credit upon Cad­
mus, who, I have every reason to believe, was a native of Thebes ; some
bestow the credit upon Phoenicia ; and one writer, although I regret I can­
not recollect his name, in a work miscalled history, remarks that little was
known of Greece until the alphabet was invented there, and since that pe­
riod everything is authentic. This is certainly one of the most ridiculous
errors that could possibly be imagined, as the alphabet had been in use
long prior to the existence of the Greeks, as a nation ; although I dare not
venture an opinion respecting its origin, as all the various works I have
examined, relating to the subject, differ very materially, but all unite in
bestowing upon Cadmus the honor of introducing the same into Greece.
I have every reason to think that this Cadmus was an Egyptian, and we
can therefore draw our own conclusions upon the subject.
In the Rhamesseion of Thebes, Champolleon discovered, at the entrance
of a room, the demonstrative proofs that this apartment was once a library.
At the entrance were sculptured two Egyptian divinities, the one on the
left was the god of the Science and the Arts, and the inventor of letters—
the god Thoth, with the head of the Ibis, a sacred Egyptian bird ; and
upon the right stood the goddess Saf, bearing the remarkable title o( god­
dess o f the boohs, or library, sculptured upon the stone beside her. The
god has a colossal eye upon his head, and the goddess a like ear—thus
indicating that these two are the senses of sight and hearing, personified.
The goddess, furthermore, holds in her hand all the implements of writing.
It was by these figures that Champolleon was enabled to form his opinion
resperAing the former use of the apartment, as, of course, nothing more re­
mains to throw farther light upon this subject; but we must conclude that
books were used, even in Ancient-Egypt, and I have no doubt that some
of them were much more valuable than many published at the present
day.
I shall now proceed to speak of a number of the trades which flourished
in this country, as exhibited by Champolleon in the drawings before re­
ferred to. First, the spinning and weaving cloths and stuffs. The Egyp­
tian workmen in this trade excelled, in some respects, those of the present
d a y ; for instance, the manufacture of the linen in which we find wrapped
She embalmed bodies, and which was fabricated in that country of so fine




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E g y p t: the Cradle o f the Grecian Arts.

and beautiful a texture, that some experienced manufacturers of this arti­
cle in England were of the opinion it was impossible to spin linen of such
fineness. The French Academy of Sciences, however, set this question
at rest in the following manner :—They first took a piece of the material
that had been used to wrap an embalmed body and extracted the gum
from it, and then, by the aid of the microscope, (for the fibre of cotton and
of linen are different,) determined it was linen, and of a much finer texture
than can be fabricated at this day. Silk and cotton stuffs were also pro­
duced here, of great fineness and beauty. Glass-blowing, too, was car­
ried to great perfection, employing great numbers of workmen, and large
factories.
C asting. This is another of the trades, and was carried to a high de­
gree of perfection, for most if not all the chariots Were brazen, a circum­
stance proved not only by their green colors, but by the lightness and
neatness of their wheels, and their beautiful ornaments, too elaborate to
have been carved.
There is also represented in these drawings carpet-making, upholstery,
and the art of the potter, in all its branches ; the painter with his easel,
the shoemaker, the colorers of leather, the weaving of cloths of different
kinds, the goldsmith, the jeweller, the blacksmith, the cabinet-maker, and
the carpenter. Among the tools of the carpenter is the axe, the adze, the*
saw, and the chisel, which do not differ very materially from those used
at the present day. W e also find here the center bit, or drill, which
could not have been invented until the arts bad made considerable pro­
gress.
Agriculture formed a prominent feature of Egyptian civilization, and
this branch is beautifully represented in Champolleon’s drawings. Among
them are seen the ploughing with oxen, the furrowing of the earth by
goats, instead of swine, as Herodotus states. There are five kinds o f
ploughs shown. The planting and harvesting of wheat and flax, the
culture of the vine, the pressing of grapes, the culture of vegetables ; also*
designs representing all kinds of cattle ; cows, calves, the milking of cows,
the making of butter and cheese ; also designs showing the different
methods of taking fish with lines, nets, and by spearing. Hunting was
also among their amusements, and the dogs used were of the present grey­
hound species.
It may appear singular that there exists at Thebes, and other parts o f
Egypt, monuments in so great a state of preservation, but probably the
climate has produced very little effect upon them ; for although rain and
frost are not unknown in that country, still they are of very rare occur­
rence.
It was during the reign of Sesostris, or Rhamses the Great, about fif­
teen hundred years before Christ, that the arts and sciences attained their
highest state of perfection in Egypt. This great monarch, the existence
of whom is doubted by some historians, was one of the most extensive
conquerors, as well as one of the best of men. He extended his conquests
into Ethiopia, Asia Minor, Persia, Arabia, and to India ; and to this daymay be seen, in different parts of Asia, monuments bearing this hiero­
glyphic inscription :— “ Sesostris, king of kings, has conquered this terri­
tory.” After his return from his conquests he devoted his entire attention
to the encouragement of the arts, and endeavored, by every means im
his power, to render his people happy. This king bestowed upon his sub­




Commercial Cities o f Europe: Rouen.

265

jects the privilege of holding landed property, a privilege previously unen­
joyed by this people. When we consider this monarch was a man of no
ordinary character, any inventions or trades he may have observed in his
conquests, he certainly would avail himself of for the benefit of his people
on his return ; and we have every reason to believe that the arts were much
advanced in India when this country was conquered by Sesostris. There
is certainly a vast field for conjecture. May not India have been to
Egypt, what Egypt was to Greece ? Champolleon, in his letters from
Egypt and Nubia, remarks upon this subject, “ there existed regular com­
munications between the two empires, Egypt and India-. Commerce had
displayed great activity between them ; and the daily discoveries made in
the tombs of Thebes, of cloths of Indian fabric, of furniture of Indian wood,
of cut precious stones, certainly pertaining to India, all leave no kind of
doubt respecting the commerce of Ancient Egypt with India at an epoch
when all Europe, and a great part of Asia were barbarous. It is impos­
sible, furthermore, to explain the number and magnificence of the ancient
monuments of Egypt, without finding in the ancient commercial prosperity
of the country the principal source of the enormous riches expended for
their erection. Thus it is plainly demonstrated that Memphis and Thebes
were the first centre of commerce, before Babylon, Tyre, Sidon, Alexan­
dria, Palmyra, and Bagdad, enjoyed this fine and important privilege.”
The temples of India bear a striking analogy to those of Ancient Egypt,
and that many of the arts of Egypt were Indian discoveries does not admit
of a doubt. To what extent, however, they were introduced from India
will probably ever remain unknown.
An opinion, says a distinguished author, is now rapidly gaining credit
among the learned, that arts and letters took their rise in Asia, and that
they were cultivated in those parts long before they were practised in
Phoenicia and Egypt.
,
d. t . j .

Art. III.— C O M M E R C IA L C I T I E S OP E U R O P E .
No. VII.—ROUEN.

TOULOUSE.

R O U E N — I T S S IT U A T IO N — C O M M E R C E — IM P O R T S AND E X P O R T S — E N T R E P O T — M A N U FA C TU R IN G IN D U S T R Y
— C O T T O N SP IN N IN G — W O O L S PIN N IN G — D Y E IN G — W E A V IN G AND P R IN T IN G O F C O TTO N — M A N U FA CTU RE
OF

W OOLLEN

C L O T H S — B L E A C H IN G — C H E M IC A L P R O D U C T S— O T H E R

M A N U F A C T U R E S — F A IR S

AND

M ARKETS.

R ouen is the principal seat of the cotton manufactures of France. It
is situated in latitude 49° 26' 27" North ; longitude 1° 14' 16" West from
Paris. Its distance from Paris is 31 leagues in a north-westerly direction.
Its distance from Havre in a right line is 16 leagues, and about 28 leagues
following the course of the Seine. The population of the city is about
92,000.
Rouen, the fifth city of the republic in importance, is very favorably
situated upon the river Seine, between the capital and Havre, which is, in
fact, the port of Paris. The depth of water in the river is sufficient to al­
low vessels of 300 tons to come up to the city. Three small rivers, the
Robec, the Aubette, and the Renelle, which unite with the Seine at
Rouen, are of the greatest importance to the industry of the city. Their




266

Commercial Cities o f Europe: Rouen.

waters move the works of not less than 250 factories. Few cities pre­
sent a more animated appearance than Rouen, or have a busier popula­
tion. The environs of the city are fertile and highly cultivated.
C ommerce. The Seine, the railroad between Havre and Paris, and
many excellent roads stretching into the interior, afford an easy commu­
nication between Rouen and the principal cities of the north and west of
France. Hence, Rouen has become the depot of an extensive commerce
of transit, especially with America, the Levant, Italy, Spain, Portugal, and
the North of Europe. The principal powers of Europe have consuls at
this city.
Foreign commerce, and the coasting trade with the countries of E u­
rope, are of very recent date at Rouen. The dangerous passage of Quillebceuf was for a long time an obstacle to any enterprise in this direction.
In 1762, Dambourney, a merchant, took the first step in maritime com­
merce by having a ship built for the grand coasting trade. This ship
made its first voyage to Cadiz. The example thus given was so rapidly
followed, that in 1790, almost all the merchants of the city who were en­
gaged in foreign trade, had become ship-owmers. At the close of 1837,
the port possessed 82 vessels of large size, measuring some 13,000 tons,
and 5 steamboats, measuring 379 tons. During the same year the num­
ber of vessels arriving at and sailing from Rouen, with cargoes, was as
follows:—
A r r i v a l s ........French

Foreign
D e p a r t u r e s . . .F rench
Foreign

vessels,
“
“
“

185, measuring
((
295,
ft
23,
it
53,

17,000 tons.
22,000
3,500
4,000

The number of coasters arriving with cargoes during the same year
was 3,084 ; their tonnage, 270,000 ; the number sailing, 1,943, measur­
ing 133,000 tons.
I mports and E xports. The annual value of the imports of Rouen is
about 9,000,000 francs ; that of its exports about 25,000,000 francs. Be­
sides the products of its manufacturing industry, of which we shall speak
hereafter, its exports consist chiefly of salt provisions, fish, oils, skins,
drugs, tar, pitch, cloths, wool, jewelry, wood for building, metals, wines,
brandy, and books.
The cotton which is consumed in the numerous factories of Rouen,
comes from Guadaloupe, Martinique, Cayenne, Senegal, Hayti, Cuba, the
United States, Brazil, and the East Indies.
E ntrep&t . In 1837, the entrepot at Rouen received merchandise
amounting, in value, to 15,000,000 francs. The value of merchandise
warehoused at the time of its importation, comprised 8,000,000 francs of
that sum. The value taken from the entrepot during the year, was
10,000,000 francs,— 8,000,000 francs of which was for consumption, and
the remainder for re-export.
Manufacturing I ndustry. From the remotest periods, Rouen has
been celebrated for its manufacturing industry. Weaving and dyeing were
carried on here in the earliest times of the French monarchy, and, at pre­
sent, this city stands first in the Republic in the manufacture of cotton.
The products of its industry have generally been articles of common use
among all classes. This, doubtless, is one of the most powerful causes of
its success.
C otton S pinning . Till within the last sixty years, hand labor alone




Commercial Cities o f Europe: Rouen.

26 "

was employed in spinning at Rouen and in its neighborhood. In 1787,
about 19,000 women were employed in this branch of industry. At. that
time, attempts were made to bring into use some spinning machines im­
ported from England, and the sum of 100,000 francs was appropriated by
the government for the encouragement of the manufacture of machinery.
But, in 1789, an insurrection occurred among the working cldsses, and, in
a few hours, the machines imported and manufactured during the preceding
fifteen months were destroyed. However, the advantages resulting from
the use of machinery had now become manifest. Machines moved by
water or horse power were constructed in great numbers, and constantly
brought nearer to perfection. The former have proved the most success­
ful. The latter, less economical, have always been few in num ber; and,
since the introduction of steam power, have nearly gone out of use.
But little fine cotton thread is manufactured at Rouen. The quality
usually made is between No. 20 and No. 60. Some, however, has been
produced as fine as No. 90, 137, and even 184.
W ool S pinning . The Aubette moves a large number of wool spinning
mills. In the little town of Darnetal, during some years, 700 workmen
have been employed in this manufacture, and 180,000 kilograms of wool
have been spun.
D yeing . Until 1747, the art of dyeing had made but little progress at
Rouen. In this year, two factories were built in France, one at Darne­
tal, near this city, and the other in the province of Languedoc, in both of
which Grecian dyers were employed. At these factories, cotton was dyed
with the red called rouge des Indes. The process used by the dyers at
these establishments was at first kept secret, but it became known by de­
grees, and, in 1765, the government caused it to be made public. Since
then, the number of factories has greatly increased, and the art has made
astonishing progress both at Rouen and in other parts of France. The
method brought from Greece has received many improvements, most of
which are to be attributed to the establishment of a school of chemistry at
Rouen.
In Rouen and the neighboring valleys, there are more than 80 dyeing
establishments, which produce annually about 2,500,000 kilograms of col­
ored cotton.
About, thirty years since, the manufacturers at Rouen began to dye cot­
ton wool. The process was very expensive at first, but it was found that
the. dye was more perfectly absorbed by the cotton while in (his state, than
after it was woven. In many factories calicoes are still printed, but black
appears to be the only color which is well retained by the cloth.
The first factories established in Normandy for dyeing wool, were at
Rouen. Most of the wool manufactured at filbceuf, Louviers, &c., was
colored here. But, since the establishment of dye factories at those
places, this branch of industry has been nearly abandoned at Rouen.
W eaving and P kinting o r C otton. For a long time, only linen and
hempen cloths were woven in this part of France. But, towards 1700, a
merchant of Rouen named Delarue having purchased a large quantity of
cotton wool and not being able to dispose of it otherwise, conceived the
idea of having it spun. The undertaking was successful. Some members
of the company of weavers took part in the enterprise, and manufactured
some stuffs called siamoises, of which the warp was silk and the woof cot­
ton. Soon after, linen was substituted for silk in the warp. This was




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Commercial Cities o f Europe: Rouen.

found to give more solidity to the fabric, and to increase the sale of the ar­
ticle. From that time to the present, this branch of manufacture has made
constant progress.
The kind of cotton cloth manufactured to the greatest extent at Rouen,
is that called rouenneries. These are cloths colored in stripes and squares,
the predominant color usually being red. The cotton is dyed before
being woven. The great demand for articles of this manufacture has
made it necessary to employ a large number of workmen residing out of
the city.
The art of manufacturing prints similar to those of India, was unknown
at Rouen till the year 1756, when it was introduced by Abraham Frey,
a Genevese. The progress of the new enterprise was greatly hindered
by the privileges o f the Indian Company ; but, in 1765, it had so far ad­
vanced that one manufacturer, Pierre Roger, employed 300 workmen.
Another difficulty was the want of native and stationary workmen. The
only skillful operatives to be obtained, were the Genevese, the Germans,
and the Dutch, who demanded high prices, and combined to prevent others
from learning their art. To escape the servitude to which they were thus
subjected, the manufacturers gradually introduced intelligent children into
their factories, as assistants. These insensibly acquired skill and knowl­
edge sufficient to enable them to take the place of the foreign workmen,
and from that time, the manufacture advanced rapidly. A new impulse
was given to its progress by the decree of 1806, prohibiting the importa­
tion of cotton fabrics.
One of the most fortunate improvements in this department of industry,
was the introduction, some forty years ago, of the art of printing by cylin­
ders. These ingenious machines are now in almost universal use. Not­
withstanding the extent of their manufacture, the prints of Rouen are infe­
rior in quality to those of Bolbec, Jony, and Mulhouse.
Perhaps the most interesting product of the industry of Rouen, is its
nankin. The attempt to imitate the nankin of the East, was first made in
1810. At present, the article manufactured at Rouen can scarcely be
distinguished from the original. It has the same hue and texture, and
even the same odor. The very paper in which the nankin of Asia is en­
veloped is imitated.
For some years, cassimeres of wool and cotton have been manufactured
at Rouen with considerable success. The manufacture of linen and hemp­
en cloths has been almost abandoned in the city. The neighboring
towns, however, produce large quantities, which are sold at Rouen.
Manufacture of W oollen C loths. But little woollen cloth is manu­
factured in the city. Darnetal, in the neighborhood, is very favorably
situated upon two small rivers, and is celebrated for its black and scarlet
cloths, its ratteens and flannels. The manufacture began in this place in
the fifteenth century.
v
Bleaching . In the neighborhood of the city, there are many establish­
ments for bleaching, where cloths receive a whiteness finer than even at
Paris, Saint Denis, or Saint Quentin. The most celebrated of these, are
in the hamlet of Lescure. The process in general use is that of Berthollet. Not only cloths, but also cotton and linen thread, are whitened at
these yards.
C hemical P roducts. A large part of the industry of Rouen is em­
ployed in the manufacture of chemical agents. A number of manufacto­




Commercial Cities o f Europe: Toulouse.

269

ries of sulphuric acid are situated in the city, in the hamlet of Lescure,
and at Deville. At Sotteville, there are various factories for the manu­
facture of nitric acid, of sulphate of copper, of soap to be used in cleaning
.cloths, &c. Among other articles of this kind manufactured in the city
apd its neighborhood, are hydrochlorate of pewter, (used in dyeing the
rouge des Indes,) artificial soda, (in great demand on account of its low
price,) sulphur, and potash soap.
Other Manufactures. Rouen is celebrated for its apple jelly and ap­
ple sugar, and for confectionary of all kinds. It has also manufactories of
porcelain, of woollen bonnets and ribbons, of hats, muslins, bone-laces,
toys, steel and copper combs, cards, glue, colors, oils and cat-gut, sugar
refineries, wax refineries, candle factories, tanneries, rope-walks and
breweries, a copper foundry for the manufacture of articles used in its in­
dustry, and a manufactory of lead shot of all kinds. Steam-engines are
also made at Rouen, as well as all kinds of spinning and weaving ma­
chines, agricultural implements, and household utensils. Besides these,
we may mention the glass house at Amfreville, and the paper mills of Maromme, both near the city.
F airs and M arkets. Fairs are held at Rouen on four days in the
year. Two superb market halls— one for the sale of cotton and linen
thread, and the other for that of all kinds of cloth—are open every Friday.
Formerly nearly all the cotton manufactured in the neighborhood was sold
at these halls, but now, most of the large spinning factories have dep&ts
in the city whence their cottons go to the interior of the country. How­
ever, the halle aux colons is always frequented, and its prices regulate the
market.
The halle aux grains is open Mondays, Wednesdays, and Fridays.
Rouen is one of the principal corn markets of France.
TO ULO USE.
IT S

S IT U A T IO N — C O M M E R C E — M A N U FA C TU R IN G
\

IN D U S T R Y — C O M M ER C IA L

IN S T IT U T IO N S — NA V IG A TIO N .
#

T oulouse, the seventh city of France in size and population, is situated
in the ancient province of Languedoc, about 150 leagues south south-west
from Paris. It lies on the Garonne, where that river is met by-the canal
of the south, or of Languedoc, in latitude 43a 35' 46" North, longitude 0°
53' 45" W est from Paris. Its population in 1836 was 77,000, and is
constantly increasing.
The position of Toulouse is such as to warrant an extensive commerce.
By the Garonne, it communicates with Bordeaux on the Bay of Biscay.
The canal of the south connects it with the Mediterranean, with Mar­
seilles, and the Rhone. Its nearness to Spain renders it the entrepot of
all the merchandise passing to that country, through France, from the north
of Europe. It is the natural centre of all the inland trade and transporta­
tion of the large and well peopled country lying between the Gulf of Ly­
ons and the Gulf of Gascony, the Pyrenees and the mountains of Au­
vergne. And, although its commerce has not yet become so important as
might well be expected from its position, it is constantly and steadily in­
creasing with the increase of population and the advancement of the arts
of industry.
C ommerce. Toulouse carries on an active commerce in salt, oils, soap,




270

Commercial Cities o f Europe: Toulouse.

colonial products, skins and fars, wool, cotton, woollen and linen cloths,
iron ware, glass, wine, and brandy. It is the entrepbt of the iron of the
department of the Arriege, and of the marble of Italy and the south of
France. Into the interior of the country, it sends great quantities of the
celebrated patts de foie des canards and of salted geese and bacon.
The most valuable products of the countiy around Toulouse, are grain
and flour. Most of these articles which enter into commei'ce are sent
from Toulouse, and its exports of this kind amount to about a million hec­
tolitres yearly.
There is a national entrepftt at Toulouse, at which the principal articles
stored are fish, grain, coffee, olive oil, cabinet wood, cloths, lace, and
scythes.
Manufacturing I ndustry. The manufacturing industry of Toulouse
is not like that of Rouen and Lyons, confined to the production of a single
class of articles. It seeks to satisfy the various wants of the people of the
neighboi'ing districts, and is, therefore, divided into many branches, but
few of which present very important results.
A prominent department of the industry of Toulouse, is the preparation
of grainfor sale and consumption. T he quantity of grain annually ground
and packed there, is about 140,000 hectolitres. Toulouse has the largest
manufactory of swords, scythes, and files, in the Republic. The annual
product of this factory, is about 800,000 kilograms, in weight, of swords,
80,000 kilograms of scythes, and (in number) 160,000 files—all of the
best quality.
Toulouse has copper and iron foundries, mills for beating iron, bell
foundries, a manufactory of polished iron plates, a national foundry of
cannon, which, together with several copper foundries producing copper
sheathing, boilers, basins, &c., is attached to a school of artillery. H ar­
ness, iron ware, vices, and wine-presses of wrought iron, are also manu­
factured here.
Besides these manufactures, this city produces Italian pastry, colored
• paper, morocco, waxed and varnished cloths, the strings of musical instru­
ments, resin and varnish, bed clothes of wool and cotton, hats of straw and
fur, starch, pasteboard, candles, marble work, machinery, chemical agents,
brushes, pencils, rope, &c. It has a factory of porcelain, crockery, and
pipe clay, which employs 300 workmen. To these may be added, a wax
refinery, wax candle and taper factories, a manufactory of indiennes, sev­
eral mills moved by water, for spinning wool and cotton, dyeing estab­
lishments, tanneries, breweries, and distilleries of spirits of turpentine and
of brandy.
It was in the province of Languedoc that the culture of letters first
flourished after the daikness of the middle ages, and printing and the book
trade have ever since been of importance at Toulouse.
C ommercial I nstitutions, &c. Toulouse has a chamber and a tribunal of commerce, and a mint. It has a school of geometry, and of the ap­
plication of mechanics to the useful arts. Every two years there is a pub­
lic exhibition of the products of its industry, which continues from the 15th
of June to the 15th of July.
Many fairs are held at this place, the most important of which is that
of the 28th of June, for the sale of wool and woollen cloths. The hotel of
Saint John, where the fairs for the sale of woollen cloths, thread, cotton,
and silk of southern manufacture are held, has storehouses for receiving




Law Reform in New YorJc, and its Mercantile Aspect.

271

the various products of the industry of Rouen. Elboeuf, Louviers, Lille, and
other cities of the north-east of France.
N avigation. The canal of the south, or of Languedoc, so important to
Toulouse, passes a little to the north and east of the city, and joins the
Garonne only about a quarter of a league below its walls. The cana-l of
Brienne, (about a mile in length,) connects the river at the point where
it leaves the city, with the canal of the south. Unfortunately for Tou­
louse, the Garonne is not easy of navigation for some distance below the
city. In many places, its bed is encumbered with banks of rocks and
with sunken timber.

Art. IV.— LAW REFORM IN NEW YORK, AND ITS MERCANTILE ASPECT.
T he close relation between Law and Trade is too obvious to require re­
mark, and yet is so obvious as to repeatedly suggest itself and compel re ­
mark. The relation is one of mutual action and reaction. Trade fur­
nishes the great leading branch of modern Jurisprudence ; and we read in
the history of English Law, that some of the first, nay, the very first re­
laxations of the feudal rules, were made in favor of Commerce, and under
the exigency of its growing wants. Hence the statutes allowing the alien­
ation of real estate by deed and by will. Hence the laws making real
property liable in execution, and the statutes merchant and staple, by
which mercantile debts were secured by a species of mortgage. And hence
another great change, although not precisely a relaxation of the law, by
which, in order to establish mercantile credit, debtors were made liable to
arrest on civil process. In many of the United States the law has, in this
respect, gone back to its early common law rule, which held a freeman
too good to be arrested, except for a crime. A glance, even, at the causes
of this change, and of the abolition of imprisonment for debt, by which
our law, after departing from the old rule of liberty for several hundred
years, has gone round the circle, as it were, and made, literally, a revolu­
tion to the point which it left, would carry us too deep into the philosophy
of trade and credit, (which seems the modem substitute for legal sanction,)
and into the, philosophy of politics too, and would lead us away from our
purpose in mentioning these instances, which is merely to illustrate the
influence of trade upon law.
On the other hand, Law acts upon Commerce. Mercantile affairs are
sensitively alive to changes in legislation, even to such as do not directly
bear upon them. The French revolution of 1848, from which industry in
all its branches looks for so much good ultimately, has had for its imme­
diate effect the utter prostration of trade. But Commerce feels legislative
changes far less violent than revolutions. Legislation on the subject of
contracts, and affecting the remedies upon contract, have of course a direct
bearing and effect.
We hardly know w'hether to call the late radical changes brought about
in the State of New York, in the entire system of Pleading and Practice
there, by the code of procedure passed in April, 1848, an innovation, re­
form, or revolution. The term applied will depend upon the view one is
disposed to take of the measure. Of its importance there can be no doubt.
Of its interest to all students of Law, and especially to all inquirers into




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Lam Reform, in New York, and ils Mercantile Aspect.

the subject of Law Reform, we need say nothing. W e have to do with
its mercantile bearings; and these, both direct and indirect, not only on
the. law of remedy but of contracts also, are so numerous as to claim some
notice in our pages.
We shall avail ourselves of an article on the New York Code in the
July number of the Monthly Law Reporter of Boston, by one of our own
contributors, David R. Jaques, Esq., of New York, in which the history oi
this great change is briefly given, some of the principal changes affecting
general principles*are detailed, and an outline presented of the new sys­
tem, now in full force.
The Law Reporter, by the way, has lately completed its tenth volume,
and on passing into the hands of other publishers, Messrs. Little & Brown,
enters upon a new series. Stephen H. Phillips, Esq., of the Boston Bar,
is now its able and efficient, editor. In one respect the Law Reporter is
unique in its character. Although it always devotes some space to the
discussion of legal topics of general interest, it is mainly, in contents as
in name, a magazine of reports of adjudicated cases. It is, we think, the
only periodical of the kind, unless we except the New York Legal Obser­
ver, published in this country. But the peculiar value of the Law R e­
porter is owing to the liberal spirit in which its selection of cases is made.
It confines itself to no one State or district, but ranges from Maine to Tex­
as, giving the decisions of the State courts of the North, South, and West.
It thus furnishes, in a convenient form, what we can find no where else,
neither in the Reports of the United States’ Supreme Court, nor in the R e­
ports of the separate States, a general view of American Equity and Com­
mon Law, as it prevails throughout the Union. It exhibits the English
system of Jurisprudence as it prevails in all the States, modified in some
respects, but in the main the same in all, harmonized by no external rule
of uniformity, but by the same internal spirit. New York is the first
State to make a great departure from the old law in its new code, to swing
out of the line of Common Law, in which all have hitherto remained,
from our earliest colonial era, two hundred years ago. Whether others
will follow her example, or she be brought to acknowledge that via anti­
que via est tuta, and return to the old way, we must leave to the lawyers
to prognosticate.
In the following extracts from the Reporter’s article, a history of the
new Code, and a sketch of the new system of pleading established by it,
are given, and some of the more important alterations affecting the law of
contracts and remedies on contracts pointed o u t:—
THE NEW YORK CODE OF PROCEDURE.

On and after the first day of July, 1848, the only system of pleading and practice, the
only forms of remedial law, or what, after French usage, is called procedure, in force in
the State of New York, will be a system of equity procedure. Such, in a few words, is
the general positive result of late changes. Another result, of a negative kind, is, that on
the same day, that other system of remedial law, so well known, as the system of plead­
ings and practice at common law, ceases to exist in that State. And on the same day,
the court of chancery of N ew York, some of the powers of which had been kept alive, by
the constitution, for the purpose of hearing and disposing of pending suits, comes to an ab­
solute and final close, with all its imposing array of officers, chancellor, vice-chancellors,
examiners, and masters. The only trace left in the constitution of November, 1846, of the
- submerged world of chancery, the only peak above the waters, is the word “ equity,” oc­
curring four of five times in article six.
The twenty-fourth section of article six of the constitution, provides for the appointment,
by the legislature, of three commissioners, and makes it their duty “ to revise, reform,




Law Reform in New York , and its Mercantile Aspect.

273

simplify and abridge the rules and practice, pleadings, forms, and proceedings of the courts
of record of this State, and to report thereon to the legislature.”
A n act of April, 1847, purporting to be in pursuance of this provision, appointed the
commissioners, and made it their duty “ to provide for the abolition of the present forms of
actions and pleadings, in cases at common law, for a uniform course of proceedings in all
cases, whether of legal or equitable cognizance, and for the abandonment of all Latin and
other foreign tongues, so far as the same shall by them be deemed practicable, and of any
form and proceeding not necessary to ascertain, or preserve the rights of the parties.”
The commissioners, Messrs. Arphaxad Loomis, David Graham, and David Dudley
Field, made their first report in February last. They submitted an act, which, after some
amendment, was passed April 12, 1848. The preamble recites, that “ it is expedient that
the present forms of actions and pleadings, in cases at common law, should be abolished,
that the distinction between legal and equitable remedies should no longer continue, and
that an uniform course of proceedings, in all cases, should be established.”
§ 62. “ The distinction between actions at law and suits in equity, and the forms of all
such actions and suits, heretofore existing, are abolished, and there shall be, in this State,
hereafter, but one form of action, for the enforcement, or protection of private rights, and
the redress of private wrongs, which shall be denominated a civil action.”
§ 118. “ All the forms of pleading heretofore existing are abolished ; and hereafter the
forms of pleading in civil actions, and the rules by which the sufficiency of the pleadings
is to be determined, shall be those which are prescribed by this act.”
One-half, or rather the first part of their twofold duty, having been thus summarily dis­
posed of, by the commissioners, in two sections, they devote the rest of the act to a more
difficult task than abolishing old forms, that of providing new and better ones. The act
consists of 391 sections in all, numbered continuously to the end, and as published by the
legislature, with the reviser’s elaborate notes, introductory and explanatory, makes a vol­
ume of 260 pages. It is divided into two parts, to which are prefixed certain general defi­
nitions and divisions of actions. But these parts are not the whole, they are only the first
tw o of the series of laws, which the commissioners call a “ code of procedure.” In addi­
tion to the regulation of civil actions, to which the present act is confined, future parts will
embrace, criminal procedure, new provisions respecting the jurisdiction of courts, the rules
of evidence, all proceedings not actions, classed by § 3 as special; in short, the remainder
of “ the law o f the State concerning remedies in the courts of justice.”
Part first, as adopted, contains an enumeration of all the courts of the State, a sort of
re-enactment of the sections of the constitution establishing courts, and also of the present
laws, regulating their jurisdiction. Part second treats of civil actions, and in twelve titles
regulates their form, the time of commencing them, the parties, the place of trial, the man­
ner of commencing them, the pleadings, arrest, and bail, and other proceedings, termed
provisional remedies ; trial and judgment, execution, costs, appeals, and certain miscella­
neous proceedings, such as motions and orders, the examination of witnesses and of
parties.
Before attempting a sketch of the new system of pleading, we shall briefly state some
o f the most important of the many alterations of the existing law, mainly affecting prac­
tice, but by no means confined to that subject, nor yet falling strictly under the head of
pleading, which occur in every part of the code.
It enacts that the civil remedy for a wrong shall, in no case, be merged in the criminal,
(§ 7 ;) it abolishes actions on judgments, (§ 64;) it makes the lapse of twenty years an abso­
lute bar to an action on a sealed instrument, and not a mere defence, by way of presump­
tion of payment, (§ 96;) it makes a written acknowledgement subscribed by the party to
be charged, necessary to revive a debt, barred by the statute of limitations, (§ 90;) it ex­
tends exemption from arrest and imprisonment to cases of tort, except where the defend­
ant is a non-resident, or is about to remove from the State, (§§ 154, 156 ;) it requires the
plaintiff to give security for the defendant’s costs and damages, on applying for “ an order
of arrest,” which is the substitute for the capias, (§ 157 ;) it allows a deposit of money in­
stead of bail, (§ 172;) it provides for one undertaking of bail, instead of bail alone, and
bail to the sheriff, (§ 162 ;) it allows arrest at any time during the action, before judgment,
(§ 158;) it permits the defendant, in replevin, to retain the property, pending the suit, on
giving security, (§ 186 ;) abolishes the writ of injunction, substituting proceedings, similar
in effect, by order, (§ 191 ;) and provides that no suit shall abate, by the death, marriage,
or other disability of a party, (§ 101.)
The provisions of the code, relating to t( trial by referees,” are striking, and may lead
to important results, (§ 225.) A ny of the issues in an action, may be referred, by consent,
issues o f law , as well as issues of fact. In other words, parties are at liberty to select
VOL. X IX .----NO. I I I .




18

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Law Reform in New York , and its Mercantile Aspect.

from the community at large, the judges of their controversies, and every citizen, layman,
and lawyer, becomes a kind of auxiliary judge, an assessor to the bench.
The code also abolishes all existing laws relating to fees, and restricting and regulating
agreements between attorney, or counsel and client, as to compensation, but allows the
successful party certain specified sums, by way of indemnity, from his opponent,
(§ 258.)
N ot only may parties to an action choose their judges, but parties to any question in
difference may, under the code of procedure, submit a case, containing the facts, and ac­
companied by affidavit of the good faith of the proceeding, upon which the court is au­
thorized to hear and determine the matter, and judgment (without costs) is to be entered
up as in action, (§§ 325-7.)
And provision is made for the compromise of suits, by al­
lowing the defendant to make a writtep offer, at any time before judgment, to consent to a
judgment for a specified sum. If the plaintiff do not accept the offer, and fail to recover
more than the sum specified, he is liable for all the costs incurred by the defendant after
making the offer. If he accept, he may have judgment entered up by the clerk, (§ 338.)
No part of the code is more calculated to startle those of a staid turn of mind, than the
provisions relating to testimony. The result of these provisions seems to be, that all in­
competency of witnesses is done away, except in one instance. A party may not put him­
self on the stand. And even as thus stated, the rule requires modification. All proceed­
ings by action to obtain discovery, being abolished, the code provides that any party may
be called, as a witness, to the stand, by the adverse party, and examined, in the same
manner, and under the same rules, as any other witness. A party, however, who has
been thus called and examined, is allowed to testify, on his own behalf, “ to any matter
pertinent to the issue,” (§§ 343, 344, 349.) Incapacity, from in terest, is expressly abol­
ished, with the qualification mentioned. A s to this provision, however, it may quiet the
minds of some, to know that it is but a tardy imitation of the reform introduced in E ng­
land five years ago, by Lord Denman.
The system of pleading presented in the code is short and simple. But do the commis­
sioners think it will always remain thus short and simple, and, like the prince of codifiers,
Justinian, who, on publishing the Digest, issued a constitution forbidding all note and
comment for all time to come, imagine that the ingenuity of human wit, the complexity of
human affairs, and the certain accretions which the wave of time aloue is sure to bring
with it, will not add to the bulk and mar somewhat the symmetry of their plan ? I f they
share Justinian’s delusion, they must look for his fate. He came out the next year after
his Digest was issued with comments of his own! But the New York commissioners
have given ample proof of a spirit of wiser and more reasonable reform. They have not
been in hot haste to make “ all things new,” but rather disposed to make new applications
of old forms and modes. In every nation in which there is a true political life, institutions
are not a mere structure of men’s hands, but a growth of time. The course of events
makes changes necessary. But the wise reformer modifies rather than abolishes. The
old may thus become mixed with the new. Old forms of the past may cramp somewhat
the business of the present; a sort of incongruity may result; but it is such incongruity as
must always exist in life and affairs. The theorist will find perfect symmetry only in
theories, and the people whose legislators are at liberty to pull down and build up at will
are the subjects of despots.
Only one form of action being allowed by the code, it provides but one mode of com­
mencing it— by service of a summons, which is a notice of the action subscribed by the
plaintiff or his attorney, and requires the defendant to serve a copy of his answer on the
plaintiff within twenty days.
The parties are termed plaintiffs and defendants. “ All persons having an interest in
the subject of the action and in obtaining the relief demanded, may be joined as plaintiffs,
(§ 97;) and any person may be made a party defendant who has any interest adverse to
the plaintiff.
The only pleadings are the complaint by the plaintiff; the defendant’s answer or demur­
rer to the eomplaint, and plaintiff’s replication to the answer. No demurrer is allowed to
the plaintiff An issue is effected by either an answer, demurrer, or replication. The
general rule is laid down that every allegation not controverted by the opposite party, by a
denial either of fact or of knowdedge of the fact, shall be taken as admitted as to the fact,
but not as to the legal effect. The pleading, therefore, need not go farther than the an­
swer or demurrer. It cannot go farther than the replication. The replication is allowed,
not so much for the advantage of the plaintiff in alleging new matter, as for the advan­
tage of the defendant, in having the allegations of his answer distinctly admitted or denied.
This rule of equity pleading, which makes the allegations end with the replication, is, we
think, a wise one. Logically, there m ay be no end to counter-statements of new facts,




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Statistics and History o f the British Cotton Trade*

275

and,the practical question is, whether the substantial facts are not as likely to be brought
out in three as in seven allegations, and whether it is not as well to stop at the replication
as to allow an imaginary surrebutter which is hardly ever reached.
The complaint (which is not required to be filed in the first instance, but a copy of
which must be served on the defendant with the summons,) must contain the title of the
cause, name of the court, and name of the county (by way of venue) in which trial is de­
sired, names of parties, “ a statement of the facts constituting the cause of action,” “ a de­
mand of the relief to which the plaintiff supposes himself entitled,” and if a money demand,
a statement of the amount, (§ 120.) The provisions of this section are very similar to those
o f the French Code de Procedure Civile respecting the exploit (V ajournement, correspond­
ing to the complaint, which must contain dates, names, and occupation of parties, “ object
o f demand, and summary expose of the grounds,” and the name of the tribunal, (Code § 61.)
The answer of the defendant and the plaintiff’s replication to the answer, may contain
a denial of any fact or of knowledge of any fact alleged in the pleading answered, or al­
legations of new matter. All pleadings, except the demurrer, must be verified by the
party, his agent or attorney, (§ 133.)
Allegations are to be liberally construed, with a view to substantial justice, not protiu s
contra proferentem. Irrelevant or redundant matter may be struck out on motion, (§§ 136,
137.) These provisions, with the general one that allegations must be “ in ordinary and
concise language, without repetition, and in such a manner as to enable a person of com­
mon understanding to know what is intended, are absolutely the only important rules of
pleading in the code, (§§ 120, 131.) N o such things as forms of pleading are recognized,
and the most liberal statute of jeofails that ever was enacted is contained in §§ 145, 149.
N o variance is to be deemed material unless the opposite party make affidavit that he has
been misled. And the court may, a t any time, amend any pleading by inserting, striking
out, and “ conforming the pleading to the facts proved !”
There are no set phrases of assertion and denial, like the propositions afjirmans et negans of the schools of logic in the middle ages, required to produce an issue. Issues
which are of law or of fact (§ 203) arise, the former on a demurrer or an allegation not
controverted. Every allegation controverted and every new allegation in a replication is
an issue of fact. All issues are tried ; those of law by argument, those of fact by testimo­
n y ; before a single judge, in the first instance, in both cases. Trial is either by court, by
jury, or by referees. By consent all issues may be tried by referees, (§ 225.) Reference
may be ordered in cases of account, and of questions of fact other than those arising on the
pleadings. The constitutional right of trial by jury in cases heretofore accustomed re­
mains, of course, untouched. The commissioners inform us that § 208, which provides
that “ whenever, in an action for the recovery of money only, or of specific real or person­
al property, there shall be an issue of fact, it must be tried by a jury,” is intended to extend
the right to other cases. What new issues are included under these general terms is not
very clear. Would an action for common foreclosure of a mortgage be triable by jury,
under the first clause, being for the recovery of money only ; or an action for strict fore­
closure, being for specific real property under the second ?
All issues of law, and all issues of fact, other than those triable by jury, or referees,
are to be tried by the court. And all issues may be tried by the court, by consent,
(§

221 .)

The verdict of the jury may be general or special, in actions triable, of right, by a jury.
In all other cases the verdict must be special, if the court so direct, or it may directa spe­
cial verdict, on particular questions of fact, in addition to the general verdict. Where
there are both, the special is to control the general verdict, (§§216, 217.) Judgment may
determine the ultimate rights of parties, and may be given for or against plaintiffs, and for
or against defendants, in the same action, (§ 230.)

Art, V.— STATISTICS AND HISTORY OF TIIE BRITISH COTTON TRADE:
AND OP T H E M ANUFACTURE OP COTTON GOODS.
CHAPTER IV.

our last chapter we gave tabular statements of the quantity of cam­
brics and muslins exported from Great Britain, in each of the years from
1831 to 1846, to each of the foreign countries with which she has com­
mercial intercourse, together with a statement of the quantity of yarn,
In




276

Statistics and History o f the British Cotton Trade :

thread, calicoes, cambrics, damasks, dimities, lawns, counterpanes, ging­
hams, cords, velveteens, nankeens, handkerchiefs, lace, tapes, &c., ex­
ported in each year from 1816 to 1846, a period of thirty years ; closing
the chapter with a chronological history of cotton goods.
The following table shows the actual value of each description of cot­
ton goods shipped from Great Britain in the years 1832 to 1846, calcula­
ted from the average market price in each year :—
TABLE SHOWING THE MONEY VALUE, IN £ , OF EACH DESCRIPTION OF GOODS EXPORTED IN THE
FOLLOWING YEARS.
DESCRIPTION.

1832.

1833.

1834.

1835.

1836.

Calicoes, printed............. . £2,448,353 £3,065,901 £4,812,610 £5,538,239 £5,914,385
Calicoes, plain................. . 2,040,293 2,629,031
3,834,929 4,390,566 5,362,968
Cambrics.........................
381,084
332,145
324,676
153,709
306,514
Cotton and linen............
30,519
40,244
51,963
52,745
49,699
Dim ities...........................
4,235
3,294
1,458
2,964
3,532
Damasks.........................
576
780
1,123
1,065
1,525
Ginghams.........................
25,649
54,164
45,160
73,737
35,000
Lawns.......... ' . .................
11,556
212
191
580
348
Lace ............................................
918,951
780,542
1,302,894
1,072,412 1,214,914
Nankeens.........................
34,517
53,817
193,010
41,820
317,608
Quiltings.........................
25,402
20,775
11,206
24,411
12,887
Ticks................................
20,375
8,700
10,972
2,718
5,844
Velveteens........................
309,645
343,975
368,127
290,733
357,128
Counterpanes........................
9,398
16,466
35,548
81,770
14,387
H osiery............................
234,561
257,931
194,081
216,894
236,991
Shawls..............................
74,860
224,374
231,316
240,022
273,969
T apes...............................
3,672
10,188
8,108
5,673
4,189
Unenumerated...............
154,151
68,854
144,577
131,446
167,440
Y arn................................. . 4,479,053 4,235,051
5,616,369
6,012,554 6,567,154
Thread.............................
104,127
121,234
235,783
225,540
214,914
1
Y am exported in mix- j
ed goods................... j1
Total...... ................. . 11,330,277 12,829,538 17,311,253 18,506,605 20,646,077
TABLE SHOWING THE MONEY VALUE, IN £ , OF EACH DESCRIPTION OF GOODS----CONTINUED.
D E S C R IP T IO N .

1837.

1838.

1839.

1840.

1841.

C alicoes, p rin te d ............. . £4,141,755 £5,121,160 £5,213,716 £4,699,710 £4,479,883
C alicoes, p la in ................... . 4,287,429
4,714,129 5,156,963 4,716,251 4,586,831
C am b rics.............................
158,725
147,964
129,218
114,873
89,670
25,068
C o tto n a n d lin e n ...............
22,551
16,117
17,104
22,690
D im ities...............................
1,458
1,535
1,564
914
1,280
385
522
D a m a s k s ............................
662
399
199
G in g h am s...........................
50,172
65,011
58,163
67,035
40,453
336
410
L a w n s .................................
1,076
6,045
154
857,615
1,001,121
922,358
1,176,126
L a c e ......................................
1,180,841
6,036
6,461
N a n k e e n s...........................
2,031
10,436
12,690
8,270
15,729
Q u iltin g s............................
6,909
2,816
3,930
2,557
4,073
3,021
T ic k s ....................................
6,158
1,641
154,624
V elveteens.........................
152,363
142,894
103,887
64,383
C o u n terp an es...................
26,105
24,077
16,936
35,677
14,209
34,123
H o s ie ry ...............................
219,967
251,626
218,007
197,091
182,292
204,895
S h aw ls.................................
166,623
120,495
101,937
3,395
4,080
7,125
4,752
0,110
T a p e s .................................................
U n e n u m e ra te d .................
106,340
119,190
159,341
136,251
116,823
5,912,224 6,043,138 4,900,596 4,981,060
6,024,661
Y a m .................................... .
174,932
177,224
189,261
191,781
307,194
T h re a d ................................
Y a rn exported in m ix- )
ed g o o d s .................... )

Total........................ . 16,133,841 17,966,837 17,462,286 16,578,040 17,247,084




And o f the Manufacture o f Cotton Goods.

277

D K S C R IP T IO N .

1 8 4 !.

1843.

GO
K .

TABLE SHOWING THE MONET VALUE, IN £ , OF EACH DESCRIPTION OF GOODS— CONTINUED.
1844.

1846.

Calicoes, printed.............. £3,687,646 £4,104,345 .£6,311,712 .£5,273,360 .£ 4,672,024
Calicoes, plain.................. . 4,575,506
6,692,652 7,714,386 8,302,919 8,702,430
Cambrics...........................
42,166
53,672
54,023
78,045
77,967
Cotton and linen............
19,659
14,112
19,383
14,072
16,196
Dimities............................
781
6,061
608
509
289
Damasks...........................
196
349
86
270
295
Ginghams...... . ................
34,676
53,831
11,249
26,826
13,531
Lawns..............................
143
393
542
202
157
Lace..................................
714,335
795,392
878,475
766,469
495,487
Nankeens.........................
4,768
1,466
4,555
894
2,213
Quiltings..........................
2,816
3,132
2,392
3,380
4,862
Ticks.................................
1,223
3,420
2,525
2,158
2,844
70,126
60,025
Velveteens......................................
58,371
64,960
61,258
19,598
Counterpanes..................
15,583
18,263
24,496
32,897
140,366
144,753
172,538
Hosiery...............................................
238,689
163,583
109,060
Shawls..............................
72,305
106,819
133,130
102,341
Tapes...............................
4,621
2,448
1,902
1,588
1,213
73,222
87,374
82,325
Unenumerated................
85,443
54,161
Y a rn ................................. . 5,488,345 6,373,737 5,963,004 6,596,89.7 8,183,772
Thread.............................
116,088
162,174
182,069
184,554
171,666
Yarn exported in m ix. j1
614,622
599,564
ed goods.................... i
Total........................ . 15,068,586 18,768,257 20,500,949 22,419,988 23,352,295

W e now proceed to give a table showing the average price of each
description of manufactured cotton goods, exported in the years 1831 to
1846 :—
TABLE SHOWING THE AVERAGE PRICE OF EACH DESCRIPTION OF MANUFACTURED COTTON GOODS,
EXPORTED IN THE FOLLOWING YEARS.
D K S C R IP T IO N .

Length o f Weight o f
pieces.
pieces.
Yards.

Calicoes, printed...............
Calicoes, plain...................
Cambrics............................
Cotton and linen..............
Dimities.............................
Dam asks............................
Ginghams..........................
Lawns..................................
Lace....................................
Nankeens...........................
Quiltings............................
Ticks..................................
Velveteens.........................
Counterpanes.....................
Hosiery...............................
Shawls...............................
Tapes, &c...........................

28
24
20
40
20
20

50
60
50
60

1811.

185!.

O l.

S.

d.

S.

d.

s.

4 4
5 12
3 0
8
0
12 0
10 0
3 8
2
8
0 8
8 8
18 8
20 0
22 12
7 8
2
8
2 8
1 0

12

3
0
0
8
0
0
0
0
0
8
0
0

11
7
10
10
25
24
10
10
10
16
75
25
50
5
10
6
1

8

11
7
10
11
26
24
10
10
10
17
52
25
52
6
11
6
1

lbs.

7
10
10
25
24
10
10
10
16
75
25
50 0
8 0
10 0
6 0
1 9

1813.

0
0
8

0
0
0
0
0
0
0

0
0
10
0
0

9

d.

114
4
5
4
3

9
5
10
10
8J

6
5
6
0
0

3
9

1814.
S.

d.

13

8

8

6

11 3
13 4
28 9
27 0
11 3
11 8
11 8
18 9
56 6
28 2
55 0
7 0
11 0
6 6
0
2

TABLE SHOWING THE AVERAGE PRICE OF MANUFACTURED COTTON GOODS— CONTINUED.

C alicoes, p rin te d ................
C alicoes, p la in ...................
C am b rics..............................
C otton an d lin e n ...............
D im ities................................
D a m a s k s ..............................
G in g h a m s ............... : ..........




Length of Weight of
pieces.
pieces.
Yards.

lbs.

O l.

28
24
20
40
60
36

4
5
3
8
12
10
3

4

20

12
0
0
0

0
8

©a
oo
rH

D K S C R IP T IO N .

S.

1816.
d.

14 0
9 0

11

8

13 4
28 9
27 0

11

8

S.

d.

14 0
9 0

11

8

13 4
28 9
27 0

11

8

1817.
d.
11 0
S.

8 3

10 3

10 0
21 0
20 0

10

6

1838.
S.
d.
10 10
8 0
10 14

9 8
20 6
19 6
10 4

278

Statistics and History o f the British Cotton Trade:
TABLE SHOWING THE AVERAGE PRICE OP MANUFACTURED COTTON GOODS— CONTINUED.

Length of Weight of
pieces.
pieces.

DESCRIPTION.

Y ards.

Lawns...............................
Lace..................................
N ankeens........................
Quiltings................ .........
Ticks................................
Velveteens........................
Counterpanes....................
Hosiery.............................
Shawls..............................
Tapes, & c........................

lb s . OZ.

2
0

8
8
8
8
0

50
50
60

8
18

60

20
22 12

7
2
2

1

8
8
8
0

1837.

1838-

s.

d.

s.

d.

8.

d.

8.

11
11
18
56
28
60
7
11

1815.

8
8
9

11
11
18
56
28
60
7
11

8
8
0

9
10
17
'39

2

0
0
0

6
2

0

6
2

6

2
0
0
0
6
0

1816.

6
2

6

20
•

40
5
10
5
1

0
0
0
0
0
3
0
0
9

d,

9 0
9 0
16 10
38 9
19 2
39 0
5 0
9 10
5 0
1 9

TABLE SHOWING THE AVERAGE PRICE OF !MANUFACTURED COTTON GOODS— CONTINUED.

Length of Weight of
pieces.
pieces.

DESCRIPTION.

Y ards.

Calicoes, printed.............
Calicoes, plain..................
Cambrics...........................
Cotton and linen.............
Dimities........................ J..........
Damasks..........................
Ginghams........................
Lawns...............................
L ace..................................
Nankeens........................
Quiltings...........................
Ticks.................................
Velveteens........................
Counterpanes................... .......
Hosiery..............................
Shawls..............................
Tapes, &c...............................

28
20
40
60
36
20
20
50

60
No.

1819.
d.

lb s . Ol.

8.

4 4
5 12
3 0
8 0
12 0
10 0
3 8
2 8
0 8
8 8
18 8
20 0
22 12
7 8
2 8
2 8
1 0

10 6
7 10
10 0
9 6
20 4
19 6
10 0
9 0
8 9
16 9
38 6
18 10
39 0
5 0
9 9
4 10
1 9

1840.
S.

d.

10
7.
9
9
20
19
9
9
8
15
38
18
38

44

4
9
4
1

6

0
44
14

0
6
0
9
11
14
9
3
10
9
9
9

1841.

1848.

S.

s.

d.

8
6
6
9
20
19
8
9
8
15
38
18
38
4
8
3
1

9
0
3
3

9
6
6
9
20
19
8
9
8
15
38
18
38
4
9
3
1

d.

0
0
6
44
14
0
6
0
6
0
14
9
3
0
0
9
9

0
0
3

0

3
0

0
3
0
0
6

3
9

TABLE SHOWING THE AVERAGE PRICE OF MANUFACTURED COTTONr GOODS— CONTINUED.

Length of Weight of
pieces.
pieces.

DESCRIPTION.

Calicoes, printed.................
Calicoes, plain .......................
Cambrics...................................
Cotton and linen .................
Dimities .......................... . . . . .
Damasks...................................
Ginghams.........................
Lawns...............................
Lace...................................
Nankeens..........................
Quiltings..........................
T icks................................
Velveteens........................
Counterpanes................... .......
Hosiery...................................... .
Shawls .......................................
Tapes, &c................................

1841.

1844.

Y ards.

lb s. Ol.

8.

d.

8.

d.

28
24
20

4 4
5 12
3 0
8 0
12 0
10 0
3 8
2 8
0 8
8 8
18 8
20 0
22 12
7 8

8
6
6
9
20
19
8
9
8
15
38
18
38

ii

0
4
3
0

9
6
6
9
21
19
8
9
8
16
39
19
39
4

6
6
9
9
0
11
10
8
9
0
11
3
11

8 8

9

60
36
20
20
50
60
50
60
No.

4

2

4
4
0
0
5
2
4
2

2 8
2 8

3

5

3

1

1 10

1

0

2
1

7
11

1845.
s.

d.

9 5
6 44
6 8
9 <4
19 94
19 10
8 94
9 7
8 8
15 9
38 6
18 9
38 7
4 2
9

3

1

0

7
104

1846.
s.

d.

9
6
7
10

9
9
0
0
6
5
1
0
0
4
0
8
0

21

20
9
10
9
16
41
19
41

4
9

4

3

4
9

2

0

The following table exhibits the declared and official annual value of
all descriptions of cotton goods exported from the year 1697 to 1830.
The “ official value ” is from a list formed by the British custom-house
many years since ; the declared, or real value, as it is called, is accord­
ing ’ the declaration of the exporters, and, like the description of goods
entered for export, cannot always be depended upon.




i

And o f the Manufacture o f Cotton Goods.
COTTON MANUFACTURES AND YARN EXTORTED FROM GREAT BRITAIN FROM

British manufactured
cotton goods.

Years.

Official val.

Declared val.

Twist and yarn.
Official val.

Declared val.

279
1697

TO

1830.

Total cotton exports.
Official val.

D eclared val.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

£5,915
1697..........
23,253
1701..........
1710..........
5,698
1720..........
16,200
13,524
1730..........
1741..........
20,709
1751..........
45,986
1764
200,354
1765
248,348
1766
220,759
1780..........
355,060
1785..........
864,710
1 7 8 6 .........
915,046
1787
1,101,457
1788
1,252,240
1789
1,231,537
1790
1,662,369
1791
1,875,046
1792
2,024,368
1793
1,733,807
1794
2,376,077
1795 ..........
2,433,331
1796
3,214,020
1797
2,580,568
1798
3,572,217
£3,602,488
£30,271
204,602
5,808,009
1799
5,593,407
447,556
5,854,057
1 8 0 0 ..
. . . . . 5,406,501
7,050,809
6,606,368
1801
444,441
7,624,505
1802
7,195,900
428,605
7,081,441
1 8 0 3 ..
. . . . . 6,442,037
639,404
8,746,772
7,834,564
1804
902,208
9,534,465
1805
8,619,990
914,475
736,225
10,489,049
1806
9,753,824
10,309,765
1807
9,708,046
601,719
12,986,096
472,078
1 8 0 8 ..
. . . . . 12,503,918
19,445,966
1,020,352
1809
.................... 18,425,614
1,053,375
18,951,994
1810
.................... 17,898,519
12,013,149
483,598
1811
.................... 11,529,551
794,465
16,517,690
1812
.................... 15,723,225
1813
.................... N o record...
1814
.................... 16,535,528 £17,241,884
1,1 i 9,850 £2,791,248 17^655,378 £20,033,132
808,853 1,674,021 22,289,645 20,620,956
1815 .......... 21,480,792 18,946,835
1,380,486 2,628,448 17,564,461 15,577,392
1816
.................... 16,183,975 12,948,944
1,125,258 2,014,181 21,259,224 16,012,001
.................... 20,133,966 13,997.820
1817
1818 .......... 21,292,354 16,372,212 1,296,776 2,395,305 22,589,130 18,767,517
1,585,753 2,519,783 18,282,292 14,699,912
.................... 16,696,539 12,180,129
1819
2,022,153 2,826,643 22,531,079 16,516,758
1820
.................... 20,509,926 13,690,115
1,898,679 2,305,830 23,541,615 16,094,807
1821
.................... 21,642,936 13,788,977
2,351,771 2,697,590 26,911,043 17,218,801
1822
.................... 24,559,272 14,521,211
2,425,411 2,625,947 26,544,770 16,276,843
1823
.................... 24,119,359 13,650,896
2,984,345 3,135,396 30,155,901 18,376,515
1824
.................... 27,171,556 15,241,119
2,897,706
3,206,729 29,495,281 18,253,631
1825
.................... ....................
26,597,575
15,046,902
1826 .......... 21,445,743 10,522,407 3,748,527 2,491,268 25,194,270 14,013,675
3,979,760 3,545,568 33,182,898 17,502,394
.................... 29,203,138 13,956,826
1827
4,485,842 3,594,926 33,467,417 17,140,114
1828
.................... 28,981,575 13,545,188
5,458,958 3,974,039 37,269,432 17,394,575
1829
.................... 31,810,474 13,420,536
5,655,569 4,132,258 41,050,969 19,335,971
1830
.................... 35,395,400 15,203,713

The following table shows the quantity of cotton wool imported and ex­
ported in each year from 1697 to 1846 ; those previous to the year 1829




•280

Statistics and History o f the British Cotton Trade:

were published in pounds, but Mr. Burn, of the Commercial Glance, has
reduced them, from the commencement up to that period, into bales of the
present average weight, so that, by deducting the quantity of an early
date from a later, the exact amount of increase will be exhibited.
TABLE SHOWING THE QUANTITY OF COTTON WOOL IMPORTED AND EXPORTED, IN BALES AND
POUNDS, FROM THE YEAR 1697.
CO TTO N W O O L IM P O R T E D .

Years.
1697............................
1701............................
1702 i

5*578

Lbs.
1,976,359
1,985',868

3,289

1,170,881

2,008
5,541
4'341
4,621
3*180
5,288
6,249
13^632
4,658
8^361
10^872

715,008
1,972^805
1,545^471
lj645,031
M 32,288
l|882,873
1,469^523
2,264^808
2,224,869
4^852^966
1,658^365
2'976j610
3^870^392

13,102

4,764,589

19,007

6,766,613

Bales.

1705 )
1710............................
1720............................
1730............................
1741............................
1743............................
1744............................
1745............................
1746............................
1747............................
1748............................
1749............................
1751............................
1764......... ;.................
1771 i
to >........................
1775 )
1776 )
to >......................
1780 )
1781............................
1782............................
1783............................
1784............................

24,538
32,253

1785................................
1786................................
1787................................
1788................................
1789................................
1790................................ ...........
1791................................
1792................................

65,309
57,493
91,505
88,335
80,636
98,054

1793................................
1794................................
1795.................................
1796................................
1797................................
1798.................................
1799................................
1800................... ............
1801....................... .-.......
1802................................
1803.:..............................
1804................................ .

74,161

C O TTO N W O O L E X P O R T E D .

Price of cotton
in lbs.
Bales.

Lbs.

115
513
205
206
85
819
929

40,870
182,765
73,172
73,279
29,438
291J17
330^998

5,198,778 *West India.
11,828,039
20 d . 42 d .
9,735,663
13 36

272
1,186
499

96,788
421,229
177,626

11,482,083
18,400,384
19,475,020
23,250,268
20,467,436
32,576,023
31,447,605
28,706,675
34,907,497

567
1,144
908
3,015
2,396
836
2,371
1,021
4,172

201,845
407,496
323,153
1,073,381
852,146
297,837
844,154
363,442
1,485,465

3,291
3,792
3,348
1,952
1,710
1,688
2,372
12,406
5,227
10,478
4,385
1,413

1,171,566
1,349,950
1,193,737
694,962
609,058
601,139
844,671
4,416,610
1,860,872
3,730,480
1,561,053
503,171

19,040,929
24,358,567
26,401,340
32,126,357
23,354,371
31,880,641
43,379,278
56,010,732
56,004,305
60,345,600
53,812,284
61,867,329

12 25
14 28
22 42
19 34
14 33
12 22
12 21
13 30
20 30
tUplands.
13 22
12 18
15 27
12 29
12 37
22 45
17 60
16 36
17 38
12 38
8 15
10 18

* Previous to the year 1793, our imports of cotton were almost exclusively from the,
W est Indies.
t First importations of moment from America.




And o f the Manufacture o f Cotton Goods.

281

TJABLE SHOWING THE QUANTITY OF COTTON WOOL IMPORTED AND EXPORTED— CONTINUED.

Years.
1 8 0 5 ........................ .................
1 8 0 6 ........................
1 8 0 7 ........................ .................
1 8 0 8 ........................
1 8 0 9 ........................ .................
1 8 1 0 ........................ .................
1 8 1 1 ........................ .................
1 8 1 2 ........................
1 8 1 3........................ .................
1 8 1 4 ........................
1 8 1 5 ........................
1816*......................
1 8 1 7 ........................
1818........................
1 8 1 9 .......................
1 8 2 0 ........................ .................
1 8 2 1 ........................
1 8 2 2 ........................
1 8 2 3 ........................ .................
1 8 2 4 ........................
1 8 2 5 ........................
1 8 2 6 ........................
1 8 2 7 ........................
........................
1828
1 8 2 9 ...... .................
1 8 3 0 ........................
1 8 3 1 ........................
1 8 3 2 ........................
1 8 3 3 ........................
1 8 3 4 ........................
1 8 3 5 ........................
1 8 3 6 ........................
1 8 3 7 ............. ..........
1 8 3 8 ........................
1 8 3 9 ........................
1 8 4 0 ........................
1 8 4 1 ........................
1842........................ .................
1 8 4 3 ........................
1 8 4 4 ........................
1845........................ .................
1846........................

COTTON WOOL IMPORTED.
COTTON WOOL EXPORTED.
Price of cotton
Lbs.
in lbs.
Bales.
Lbs.
804,243
5 9 ,682,406
lid. 19d. 2,259
58,176,283
651,867
15 2 14
l . 831
2 1 0 ,464
74,925,306
2,176 ,9 4 3
1 5 J 19
6,115
4 3 ,605,982
1,644,867
154 36
4,6 2 0
260,711
92,812,282
14 3 4
12,222
4 ,3 5 1 ,1 0 5
132,488,935
144
2
2
i
24,683
8,787,109
3 7 2 ,160
1,266,867
257,237
9 1 ,576,535
124 16
3,558
1,740,912
63,025,936
13 23 £
4,890
77,039
21 30
...........
5 0 ,966,000
6 0 ,060,239
23 37
17,647
6,282,437
6,780,392
99,306,343
18 254 19,046
93,920,055
7,105,034
15 21
19,958
124,912,968
8,155,442
164 234 22,908
177,282.158
164 2 2
42,582 15,158,453
149,739,820
10 194 4 6 ,694 16,622,969
151,672,655
426,046
6,024,038
8 134 16,921
132.536,620
7 114 40,982 14,589,497
142,837,628
5 | 11
51,319 18,269,776
9.318,402
191,402,503
64 1 0 | 26,175
5 3 7 ,647
149,380,122
7 104 37,358 13,299,505
2 2 8 ,0 0 5 ^ 9 1
6 194 50,576 18,004,953
177,607,401
54 8 | 68,741 2 4 ,479,920
2 7 2 ,448,909
4 | 7 | 50,938 18,134,170
22 7 ,7 6 0 ,7 4 2
5
7 f 48,867 17,396,776
20 4 ,3 7 1 ,1 2 0
4 g 7 118,104 32,360,496
9,889,200
23 8 ,5 8 5 ,5 0 0
5 f 7 f 35,800
28 8 ,6 7 4 ,8 5 3
4 4 74 80,699 22,304,555
28 6 ,8 3 2 ,5 2 5
5
8
65,100 18,027,940
29 5 ,8 0 8 ,7 6 5
64 124 79,066 25,151,665
326,719,586
8 4 104 90.895 31,034,589
368,698,544
9 | 124 107,240 37,868,710
4 0 3 ,914,578
7 f 11 100,853 36,050,595
402,997,973
7
8 | 128,535 4 6 ,269,777
4 9 7 ,681,405
6 | 9 102,370 36,797,060
3 8 7 ,902,349
5 | 7 | 121,659 42,836,451
572,644,461
54 7 126,045 45 ,6 3 8 ,1 8 5
474,063,453
4 f 64 117,330 42,473,540
4 9 2 ,091,907
4
6 141,457 51,330,937
1,384,894
621,346,697
4 f 6 121,410 4 3 ,598,690
3 § 4 | 134,882 4 8 ,443,996
5 9 1 ,753,837
1,855,660
659,584,477
3 f_ 44 120,595 4 4 ,363,355
4 4 2 ,759,336
6
7 4 194,246 69,151,576
Bales.
167,804

In a Parliamentary document issued lately, accounts are given of British manufactures of cotton, including twist and yarn, exported from the
United Kingdom to all parts of the world, and also accounts of the ex­
portation in America for the last 33 years, (1815 to 1847.) In the peri­
od mentioned, £14,293,752 was the smallest sum, as the declared value
to all parts of the world in one year, 1826 ; and £26,119,331 the high­
est, 1845. The lowest in one year to America was £487,276, in 1842,
and the highest £4,675,339, in 1815. In the same document an account
is given of the duty chargeable on cotton wool from 1815. The duty was
repealed on the 19th March, 1845. In the year 1844, the duty charge­
able was £628,342.
* Yam trade opened with the continent.
t Previous to the publication of the Glance the import and export of cotton have been
kept in lbs., which are given in the above table ; Mr. Burn has also reduced the quantity
for each year into bales of the present average weight of 356 lbs. per bale. The prices
since that period are for the last week, in each year.




282

The Cause o f Commercial Panics.

Art. VI.— T H E C A U SE OF C O M M E R C IA L P A N IC S .*
panics are diseases to which the body politic is subject—
not chronic diseases, but epidemics as regular in their recurrence as in­
fluenza itself, though at longer intervals. The existence of these and oth­
er evils incident to the body politic has been one of the powerful means
of drawing attention to political economy, just as human ailments called
medicine into existence : as long as the natural functions go on with their
usual regularity, either in the individual or social state, there is not much
to attract attention to the laws which govern them. Thus we ate, and
drank, and breathed, without knowing anything of our heart, lungs, or
other organs,'until some injury or derangement took place, and directed
our attention to it. And so we produced, consumed, and distributed
wealth, and coined money, and bought and sold, without knowing that
there were any principles or laws which regulated operations apparently
so simple, until some interference, either from government or ourselves,
deranged the usual course of things, and set the mind of man upon inqui­
ry ; so apt are we to be anxious about matters of comparatively remote
concern, and to be contentedly ignorant of what is nearest home.
I shall now briefly call attention to some leading facts connected with
commercial panics, and make some suggestions as to their causes and
proposed remedies. I observe, in the first place, that these are diseases
which exhibit themselves only in a very civilized state of society, where
trade and commerce flourish—where there is commercial enterprize and
sp irit; they occur in England, France, Holland, and the United States of
America ; but I do not find any account of such in Spain or Portugal. If
we look at the case of England, we shall find these periods of commercial
distress regularly and periodically recurring in cycles of from five to seven
years ; and I will call your attention to the facts connected with some of
them, because it will show that similar symptoms have always preceded
and accompanied these periods of depression and panic. The earliest to
which I shall advert took place in 1793. In that year we find great com­
mercial discredit, and many failures, especially among country bankers.
It had been preceded, as Mr. Tooke observes, and as we shall find in al­
most all similar cases, by a great extension of the system of credit and pa­
per circulation, not only in the internal trade and banking of the country,
but in the commercial transactions of the principal cities of the continent
of Europe, and in the United States of America. W e find also a great
fall in price to have taken place in 1792 and 1793, (a remarkable contrast
with a rise of prices for two or three years before,) in consequence of
speculations, produced partly by paper circulation, and partly by an appre­
hended scarcity of issue and staple articles; and, superadded to all these,
we have the breaking out of the w ar in 1793, which was the proximate
cause of the pressure.
The next remarkable period of commercial distress occurred in 1809-10,
and we shall see that it was preceded by similar ones. In consequence
of our exclusion from intercourse with nearly all Europe, there was a per­
fect scarcity of most articles, which gave rise to a spirit of speculation,
and a great rise of prices took place ; for instance, hemp advanced within
a short time from £ 58 to £118 per ton, flax from £68 to £142 per ton,
C o m m e r c ia l

* From a paper read before the Dublin Statistical Society, by J ames A. L awson , Esq.




The Cause o f Commercial Panics.

283

wool from 6s. to 26s. per lb. There was also a new field opened for our
exports to Brazil, which were of a most extravagant nature— China estates.
We also find that this was a favorable period for new projects in slaves—
so that in one year 42 public companies were set on foot, with a capital of
many millions. I will not enumerate them, but amongst them I find a
United Public Dairy, for the sale of milk, and a new Medical Laboratory,
for the sale of genuine medicines, with a capital of £50,000—and during
all this period the amount of the circulation was moderate and equable.
In 1809 the depression commenced. Prices became ruinously low, and
failures of half the traders in the kingdom followed. In one month there
were 273 bankruptcies. In 1811 trade became brisk again, and from
1814 to 1816 commercial distress again prevailed. I find the number of
bankruptcies to have been :—in 1809, 1,089 ; in 1810, 2,314 ; in 1811,
2,500. We generally find the mercantile failures after the banks.
W e now come to the mercantile panic of 1825. Toward the close of
the year 1824 it was observed that the rate of consumption of some of the
leading articles was outrunning the supply—and thus an incentive was
afforded to the spirit of speculation. Cotton, silk, wool, flax, became the
subjects of speculation, and the price advanced beyond all reasonable
bounds. Coffee, though the stock was increased compared with former
years, advanced 70 to 80 per cent, and spices in some instances 100 to
200 per cen t: in fact there was scarcely any article of merchandise which
did not participate in the general rise—every one bought; prices current
of brokers, speculations in foreign loans and shares took place to an extent
never before known—joint-stock companies were formed for every con­
ceivable project— three companies were formed for working the Mexican
mines, and similar companies for working the mines of Chili, Brazil, Peru,
and the provinces of the Rio de la Plata, and for prosecuting the pearl
fishery on the coast of Columbia. In the month of March, 1825, thirty
bills were brought before the House of Commons for establishing compa­
nies. A writer of the day describes the mania in words which might be
stereotyped as applicable to all similar occasions—“ In all these specula­
tions, only a small instalment, seldom exceeding 5 per cent, was paid at
first, so that a very moderate rise in the prices of the shares produced a
large profit in the sum actually invested.” This possibility of enormous
profit, by risking a small sum, was a bait too tempting to be resisted ; all
the gambling propensities of human nature were constantly solicited into
action, and crowds of individuals of every description—the credulous and
suspicious, the crafty and the bold, the raw and the experienced, the in­
telligent and the ignorant, princes, nobles, politicians, place-men, patriots,
lawyers, physicians, divines, philosophers, poets, intermingled with women
of all ranks and degrees, spinsters, wives, and widows, hastened to ven­
ture some portion of their property in schemes of which scarcely anything
was known but the name. Commercial discredit and pressure followed
in the month of December, 1825, to an extent never known after that
time. Five London and seventy country banks stopped payment. It be­
came impossible to raise money upon any security ; and the mercantile
embarrassments began to display themselves shortly after. I should only
weary you were I to specify the other instances of commercial panic from
that time down to the memorable one of the last year, recurring as they
did at intervals of from 5 to 7 years. Suffice it to say, that all will be




284

The Cause o f Commercial Panics.

found to possess the same features, and to have been preceded by similar
events.
Now, what strikes me at looking at all these panics is this, that the cir­
cumstance which immediately gave rise to the pressure is almost wholly
inadequate to account for its long continuance, and for the loss sustained
by it. For instance, the breaking out of the war in 1793, that alone never
could have occasioned commercial embarrassment if commercial affairs
had been in a sound state up to that time—it might have limited the future
operations of trade, or checked its advance, but it could not entail the uni­
versal ruin which ensued. In like manner the fall of the prices of lead­
ing articles, which immediately preceded the panic of 1809, never alone
could have caused it, nor could the circumstance of a deficient harvest
alone ; that would only entail a loss at most of one million ; but where the
panic takes place, failures to many times more than that amount ensues;
for instance, the general deficiency of food in 1846 never could have oc­
casioned the panic which ensued. We must therefore look beyond the
proximate cause or the occasion of the panic to find its true cause ; and I
think from the details I have given you, you will be prepared to anticipate
the conclusion to which I have arrived, namely, that it is not attributed to
a sudden check given to an extensive and long continued trading upon
credit—this check may proceed from the various causes which We have
seen gave occasion to the panic, or by any other circumstances which
cause a revulsion in the public mind, or cause a disinclination to continue
to give credit; and it will be found that when this system of trading on
credit has been extensively pursued, a very slight obstacle is sufficient to
overturn the entire system.
Let us see, now, how this system of trading on credit is carried out, and
how it accounts for these disastrous reverses in the commercial world. If
there was no credit^the transactions of a country would be strictly limited
by the amount of its capital, just as the purchases of an individual who
had no credit would be by the quantity of money he had ; and if we follow
out this comparison between the individual and the whole mercantile com­
munity, we shall find that it throws light upon the subject.
The individual case is generally easy of solution, and yet that of the
community is only an agglomeration of individual results. If an individual
deals on credit, it is obvious that he cannot go on for any time incurring
liabilities beyond the amount of his annual income without ruin. Sup­
pose he merely anticipates his yearly income, and does not spend at a
greater rate, the only result is, that his creditors are kept out of their mo­
ney for a year ; but if he goes beyond this, he must ultimately break down
—this is the limit in the case of unproductive expenditure. But it is dif­
ferent if the money obtained on credit is employed productively; he /nay
borrow to any amount that he can procure ; and if his speculations turn
out to be successful, he will be able to repay his creditors, and have a
profit, and this is trading upon credit. A man who has no capital is able,
we will say, to get credit for £10,000 for six months or a year ; with it he
buys cotton : if the market is a rising one, he is sure to be able to re-sell
it at a profit, and thus meet his engagement at the end of six or twelve
months, and if he is able to turn the money two or three times within that
period, his profits will be doubled or trebled. On the contrary, if he has
miscalculated, and the market turns against him, the speculation fails, and
his creditor loses, he, himself, having nothing to lose. Now, this is al­




The Came o f Commercial Panics.

285

ways carried on to a great extent, not by persons having no capital as I
have supposed, but by capitalists trading beyond their capital, They find
no difficulty in doing this, but, on the contrary, great facility and a con­
stant temptation to do so—the money market is easy, a merchant with a
large capital then finds it easy to get discount, no one knows whether his
trading is speculative or not, and he is constantly in the way of seeing op­
portunities for a profitable speculation, which he is not able to resist; the
probability, therefore, is that almost every merchant, under ordinary cir­
cumstances, trades somewhat beyond his capital—to what an extent, and
for what time, a person with good credit may carry on trade though actu­
ally possessing no capital, nor assets enough to meet his liabilities, has been
shown by an exposure of the affairs of many mercantile houses of high repute
—and even to banks, after their failure, we find appended this note (in Sir
R. Peel’s speech)— “ have been insolvent for many years.” Now, if there
be such a tendency to trading on credit under ordinary circumstances,
what must it be when the spirit of speculation is afloat, leading men head­
long ? When the prices begin to rise under its influence, the early pur­
chasers are sure to realize a profit, they sell to another who sells again,
producing additional rise of price, and so the torch, passed from hand to
hand, is sure to burn the last holder. This spirit of speculation soon ex­
tends itself to every sphere of commodity, and as if nature did not produce
food enough for the supply of the gambling mania, new commodities are
invented for trafficking in, denominated shares in confidence ; and thus it
draws into its vortex, not the mercantile classes merely, but all those of
every class who have either money or credit.
When this system of fictitious trading has been extensively carried on,
we can appreciate the results of any check to it—a general rise of price
is produced, affecting the bona fide dealer, and concerns all interested ; the
shares and other articles purchased, as soon as the bubble bursts, become
utterly worthless, and the capital which has been advanced upon them is
lost—goods fall so rapidly in price that they are unsaleable save at a ruin­
ous sacrifice, and credit receives such a shock that no man trusts his
neighbor. Even the least speculative houses are liable to be involved in
the common calamity, because they have bills with the names of parties
on them who have failed. The assignment of goods, on the faith of which
they have accepted bills in the usual course of business, fail to realize the
freight and charges; and they cannot procure the discount of bona fide
bills, except at a ruinous rate of interest. Thus the ramifications of mercantile dealings are so great, and the credit of houses so much depending
on each other, that if one suffers, the shock is felt by many, while those
whose trading has been fictitious at once fall to the ground ; just as in a
house of cards, if one is removed all the rest tumble. Thus it is, that a
loss, in itself insignificant, when it supervenes upon over-trading and spec­
ulation, produces failures to an enormous amount. The last panic, which
followed upon the failure of the potato crop, and of food generally, and
was ushered in by a railroad mania, was occasioned by a loss more ex­
tensive than any other which we have a record o f; but the amount of the
failures far exceeded even that loss, while the loss itself was not repre­
sented by those failures, but was sustained by the non-trading public in
their diminished consumption of food stnd every other article.
Such I conceive to be the true explanation of these periodically recur­
ring calamities which visit our mercantile world ; and we find here some­




286

The Cause o f Commercial Panics.

thing like the law in physics, that action and reaction are equal and in
opposite directions.
This subject of commercial distress is so generally connected in men’s
minds with the currency that I cannot conclude without saying a few words
with respect to the theory, that it is caused by a defect in the currency
system, and by the want of liberality in the Bank in not giving discounts.
If our circulating medium were purely metallic, the commercial transac­
tions of the country would be nearly limited by its capital; it is true that
credit might be obtained by bills of exchange; but unless there were the
facility of getting those bills discounted— that is, of getting notes that will
circulate for them, it would check operations very m uch; but when there
is a paper currency, the Bank can discount these bills and issue their
notes, for the interest gives a great assistance to credit. Now, in the pe­
riod of speculation antecedent to the panic credit is high, the value of mo­
ney is low, and discount is procured on ready terms ; and this gives the
means of carrying on these speculations, because, as long as trade is in
that state, the notes will not be returned to the Bank for gold. As soon,
however, as the reaction comes, the Bank must begin to protect itself, for
a drain of a million will immediately take place to meet foreign and other
engagements ; the Bank must, therefore, raise its rate of discount, or all its
gold will be drained away, because there is a general fall in the value of
all commodities except gold ; everything else is unsaleable, and therefore
the gold will go out. Now, this operation of raising the rate of discount
on all bills, and declining to discount many, is what is called the Bank
putting on the screw, and the distress is often attributed to this very harsh
and unnecessary proceeding ; but it is, in truth, a measure of necessity, as
long as the Bank is bound to give gold for their notes, and it is rendered
necessary by the previous liberality or imprudence of the Bank in dis­
counting too largely. It is said that it is a pity that the Bank should be
tied down by this inconvenient restriction of paying in gold—in other
words, that any such limit should be put to their speculations. Now let
us see what effect the removal of the convertibility would have upon spec­
ulation, and whether this result is desirable. There would then be no
motive of prudence to check these speculations on the part of the mer­
chant, or to limit its discounts on the part of the Bank ; and a redundant
issue of paper, and consequent depreciation, would be the consequence ;
so that the merchant who had entered into these engagements would be
able to discharge them in the depreciated currency, and all the creditors
in the country and all the non-productive classes would be losers to the
extent of that depreciation ; and therefore, what is sought by the merchant
is, to make the public partners in the losses that arise from his specula­
tion, although they derive, and can derive, no gain from them. For I as­
sert that the public derives no benefit from speculative trading ; the specu­
lator does not call any new capital into existence, but merely borrows
some of that already existing, and applies it in purchasing what he thinks
will rise in price ; if the price does rise, the public lose by having to pay
the higher price, if the price has been raised by this speculative dealing;
if the price falls, the public do not lose, only the person who has given the
speculator credit. In all these cases the capital was in existence before,
and we have every reason to think it would have been applied as much
for the public benefit by the person who had it as by the speculator who
has borrowed it. W e have seen what disasters the spirit of speculation




Commercial Cities and Towns o f the United States.

287

entails, without any solid advantage ; and yet these men claim the credit
of being public benefactors, and ask the public to become sharers in their
losses ; but they have no more right to the title than those individuals who
deal on credit have to be considered portions of the tradesmen or manu­
facturers, whose goods they condescend to take without paying for them.
Credit is very good, but speculative dealing is not to be encouraged, and
those who embark in the trade expect to meet the usual reverse which
attend those whose expenditure exceeds their means.

Art. VII.— COMMERCIAL CITIES AND TOWNS OF THE UNITED STATES.
NUMBER XI.

SANDUSK Y

C IT Y .

S andusky city , the capital of E rie county, in the State of Ohio, is situa­
ted on the south side of Sandusky bay, fronting the opening into Lake
Erie, three miles distant, of which it affords a delightful view. The en­
tire village is based on an inexhaustible quarry of the finest building stone,
of which many of its edifices have been erected. It is a port of entry, and,
excepting for three winter months, its wharves are thronged with steamboats and other lake vessels, whose arrival and departure enliven the
view. In 1840, Sandusky contained 26 stores, besides groceries and pro­
vision houses, a ship-yard, where steamboats and other vessels are built,
300 dwellings, and about 2,000 inhabitants. The present population is
estimated at 2,700. It has also several splendid churches, and an acade­
my, of stone.
We are indebted to the editor of the Sandusky City Mirror for the fol­
lowing statement of its commerce, &c. :—
Below will be found a statistical report, rendered by the Collector of this port to
Mr. Weatherly, of Cleaveland, in conformity to a call, for that purpose, made upon
him by that gentleman. It will be recollected the Chicago Convention adopted a
resolution requiring the appointment of a committee of one from each State, whose
duty it was to gather such facts as would enable the General Government to de­
termine what amount of business is actually doing upon the lakes and rivers; and
that the information might have its proper influence with those members of Con­
gress who do not understand our wants, and the government, that these wants
should be cared for. This report is made to Mr. Weatherly, as the committee
whose jurisdiction extends over the ports lying on the lake within this State, and
agreeable to the instructions and suggestions embraced in the resolution.
We perceive by the table that there has been an astonishing increase of busi­
ness since the report made last fall by the same officer. Then, the amount of
wheat shipped from this port amounted to 840,000 bushels; now, to upwards of
1,800,000 ; showing an increase of near one million of bushels over and above the
shipments of the preceding year. Other things are in about the same proportion.
The amount of flour exported, 133,099 barrels, reduced to grain, would make
665,495 bushels, which, added to the wheat, would present the sum of 2,484,249
bushels shipped from this port during the twelve months designated by the
report.
It will be seen the imports are greater than the exports by some $3,708,711.
This is owing principally to the fact that a large amount of merchandise is ship­
ped to this point, thence by railroad to the interior of the State, whose agricultu­
ral products find other channels to a market. While the table shows wheat, flour,




288

Commercial Cities and Towns o f the United States ;

,

and wool to be the principal items of export, beef and pork, produced in great
abundance in the regions furnished with merchandise through this port, present a
very inconsiderable amount. The reason, perhaps, is, that live stock is driven a
different direction—cattle to find a market in the eastern cities, and hogs to be
slaughtered in the .Hamburgh of America, Cincinnati. Another cause producing
this difference may be found in the fact, that the facilities on the railroads, for
transporting wheat, corn, and flour, have been found entirely insufficient for the
demand, and in consequence large quantities of grain have been carried to oth­
er points, which, if locomotives, cars, and warehouses had been provided sufficient
for its accommodation, would have sought this point for shipment. Add to this
the minor products of the farm, which amounts to a very considerable sum, but
that cannot very well be estimated, and which is not embraced in the table, though
it is as much an item of export as wheat or flour, and you have the reasons why
this difference exists.
Present appearances seem to indicate an increase of business for the next few
years, in a still greater ratio than that of the last year. By completing the Mad
River and Lake Erie Railroad through to Springfield, all that portion of country
lying north, together with the rich agricultural regions lying immediately south of
that place, will pour its immeasurable and inexhaustible store of products into this
market. By extending the Mansfield and Sandusky City Railroad south to New­
ark, we have access to another country, which, for the production of grain of
every description, perhaps has no equal in the State, if in the United States. 1$
will be as natural for the agricultural products of these regions to flow here
through the channels produced by these railroads, as it is for men to seek markets
where they can obtain the greatest price for their commodity. And when the
agriculturist finds he has easy access to market, and is liberally rewarded for his
labor, the lands now covered with forests will be cleared off, and made to yield its
abundance. The lands now under the plough will be cultivated with greater
care, and until the country comes fully to develop its resources, all these circum­
stances will contribute to swell the amount of commerce to and from this place.
It will be seen that the exports and imports of Lower Sandusky are not includ­
ed in the table. A large amount of grain and merchandise is shipped to and from
that point yearly, which must necessarily pass through our harbor, which has not
been taken into consideration by the report.
REPORT OF SHIPMENTS AND RECEIPTS AT THE PORT OF SANDUSKY FROM
1846, t o 30 th o f Se p t e m b e r , 1847.

30lH OF

SEPTEMBER,

Steamboats arrived at the port of Sandusky from 30th September,
No.
Tonnage.
1846, to 30th September, 1847....................................................
/325
330,000.00
Cleared........................................................................................................
325
330,000.00
Brigs and schooners..........................................
530
95,530.00
Cleared......................................................................................................
530
95,530.00
American vessels from foreign ports.....................................................
19
3,800.00
Cleared for foreign ports.................................
19
3,^00.00
Foreign vessels arrived............................................................................
25
3,400.00
Foreign vessels cleared...........................................................................
25
3,400.00
Steamboats owned....................................................................................
4
1,132.44
Brigs............................................................................................................
2
493.64
34
4,921.27
Schooners...........................................
N ew vessels........................................................................
13
2,474.81
Value of new vessels.............................................................................................
$106,416 83

Value.
Exported to foreign ports—wheat, staves, flour.................................
Imported from foreign ports— wheat, fish, lumber, shingles. .........

$160,137
204,352

Imports from American ports............. v......................... tons merchd.
Pine lumber........................................................................................ feet
Shingles.......................................
Barrels of salt..............................................................................
Coal, in tons.............................................................................................

17,628 $7,051,200
4,320,566
34,602
3,885,000
7,780
27,099
47,423
1,564
6,256

Total value of imports from American ports............................................ $7,147,261




289

Sandusky City.
Shipped to American ports—
Wheat..........
1,818,754 $1,818,754
156.330
C om .............
312,265
665,330
133,066
121,800
Pork.............
10,150
Lard.............
24,675
1,175
Seeds............
101,717
11.313
43,652
High wines..
2,815
37,340
1,867
W ool...... .
634,106
158,526
Tobacco........
6,090
87
9,464
94,650
2,405
48,100
Tallow.........
339
1,017
Cranberries..
Leather.........
1,204
25,284
Dried fruit....
397
1,191

Miscellaneous...............

$4,770
13,085
14,250
10,307
13,420
jf 3,600
4,985
170
612
325
12,000
16,550
30,000

Total value.......

$3,438,530

Eggs.............
Hogs............. ......... No.
Furs...............
Staves.......... ......... M.
Beef...............
Beef hides... ........ No.
Corn meal...
Plaster......... .tons, est.

477
1,478
67
937
67,759
610
497
85
408
13
1,000
6,500

T w o railroads term inate at this city. T h e Mad R iver road to Springfield, con­
n ectin g at that point with the Springfield and Cincinnati road, is finished and in
su ccessfu l operation, excep tin g 24 m iles, w hich will be com pleted early next
spring, m aking the chain entire from this point to C incinnati. T h e M ansfield
and Sandusky road, a distance of 56 m iles, has been finished, and also in su cc ess­
ful operation for the last 18 months. T h e Colum bus and Lake E rie Railroad is
located from Mansfield to N ew ark, and m ost o f it under contract, and is expected
to be completed in less than tw o years ; connecting at that point with Colum bus,
Lancaster, and Z an esville, m aking its distance to each about 86 m iles, reaching
the rich beds o f coal and iron ore on the H ock in g and M uskingum valleys. T h e
length o f the road from this point w ill be 142 m iles.
T h ere is one light-house and one beacon light near the entrance o f the harbor,
both in good condition. T h e light-house is on the north-east point o f the penin­
sula. T h e beacon is on Cedar Point, to a ssist mariners in entering the harbor.
T h ere is a pier com m enced, intended to fill up a gap in the sand bar that divides
the lake and b a y ; to finish w h ich would cost, it is supposed, fifteen thousand
dollars.

For depth of water in the channel and harbor, and the amount neces­
sary to improve the channel to make it safe and easy of access, reference
is made to the reports of Col. Abert, chief of the United States Topo­
graphical Department, in 1844 and 1845, found on pages 250 and 333 of
public documents No. 2 of the respective years, from the latter of which
the following is extracted :—
H arbor of S andusky.— T h e appropriation for this harbor w as intended to
clo se a breach w hich had been made by the sea through the lon g narrow n eck of
sand called li P en in su la P oint,” w hich, for a mile and a half, forms the outer shore
of the harbor, and separates it from the lake.
T h is breach has a m ean depth of 6$ feet, and is 1,354 feet wide, through w hich
the water flow s freely back and forth between the lake and b a y ; the direction and
force o f the current depending on the wind. U n less this breach is closed and the
peninsula protected, there seem s no reason to doubt that the w hole w ill be washed
aw ay, and leave the harbor entirely unprotected against the north and north-east
winds.
A s a preliminary step, it w as found n ecessary to protect the sides o f the beach
to prevent its w idening, and also to put down a narrow crib-work at tw o places
(one 200 feet long, and one 100 feet long) on the peninsula, where it w as so low
that there w a s danger o f new breaches being made.
T h e length o f the crib-work put in during the last season, for these purposes,
is on the w est side o f the breach 736 feet, and on the east side 612 feet. 986 feet
of this crib-work is only 6 feet wide, and placed on dry land on each side of the
breach and on the peninsula, to prevent the breach from w idening, or new breaches
from bein g formed.
VOL. X IX .---- NO. I I I .

V




19

290

The Lackawanna and Wyoming Coal Region.

Col. Abert then mentions various minor matters, and cites the impor­
tance of improving the harbor in consequence of the railroads, &c. He
estimates the cost of closing the breach in the peninsula at $11,378. It
would undoubtedly cost more than that now, as it has considerably deep­
ened since 1845, when the report was made. Col. Abert continues as
follows :—
T h e am ount o f this estim ate w ill close the breach w h ich w as made, and for
which purpose the previous appropriation w as granted ; but it w ill do nothing to
facilitate the entrance into the uncom m only capacious bay which con stitutes the
harbor of Sandusky. T h e entrance is between P en in su la and Cedar Points ; wide
and deep betw een these points, but gradually shoaling into the lake, and obstruct­
ed by bars, so that the best passage over the bar does not possess more than about
11 feet o f w ater
B u t this passage over the bar is about a m ile from the land,
and during anything o f a blow the su rf breaks so furiously over it a s to m ake it
extrem ely dangerous, and to be rarely attempted at su ch tim e, or during any
w eather at night, excep t by the m ost expert pilots. D irectly outside of this bar,
the water deepens rapidly. T h e harbor inside is a capacious bay, of great extent,
affording am ple water for any lake craft, and m ay be justly considered as the best
natural harbor at the western extrem ity o f the lake. T h e difficulties and dangers
o f its a ccess, however, seriously dim inish its value ; but these difficulties and daners can be removed, and the entrance be rendered both safe and easy night and
ay, and during all kinds of w eather. T h e plan would be, by extending piers
into the lake, at proper distances from each other, from Cedar P oint and the oppo­
site sh oal,'w er the bar w hich has been described. I feel confident the plan would
be su ccessfu l— a confidence founded upon the universal experience o f sim ilar
structures upon the lakes ; and am ready, at any tim e that it shall be required, to
furnish the plan and estim ate the cost.

f

Art. T ill.— T H E L A C K A W A N N A AND W Y O M I N G COAL R E G I O N .
I t is somewhat extraordinary that the Anthracite Coal Fields of the
Lackawanna Valley, yielding this valuable mineral to an extent proba­
bly exceeded by that of no other mines within the bounds of the United
States, have not attracted to a greater degree the capital and enterprise
of the country. Situated at a distance from the city of New York which
can be travelled in a single day, and in a region abounding with the
purest air, it presents at the, present time uncommon advantages for the
mining and transportation of this product. Although its vast resources
yet remain but partially developed, a beginning has been made in this
important branch of the mining interest. Besides extensive beds of coal,
it also contains mines of iron, which have been in some degree improved.
A railroad extending from Carbondale to Honesdale, through a distance of
sixteen miles, and a canal running from that point to Roundout, upon the
Hudson River, which have been constructed by the Delaware and Hudson
Canal Company, a company which has for the last few years made an
annual dividend of 20 per cent, afford a convenient avenue of transporta­
tion to the city of New York, through which it is annually transported to
the amount of about three hundred thousand tons, from the mines to the
Hudson. There are also other important works of internal improvement in
this region which will constitute prominent channels of transportation in
the enterprise that will soon be exerted in the development of its re­
sources. A railroad has been finished by the same company for the dis­




The Lackawanna and Wyoming Coal Region.

291

tance of eight miles, from Carbondale to White Oak Run, penetrating
some of the most interesting parts of the coal region, abounding in water
power, iron ore, and valuable timber. There are other parts of this re­
gion which deserve consideration. The construction of a line of public
works, which might constitute an avenue for the transportation of the rich
mineral products of this part of the valley of the Susquehanna, and its ad­
jacent territory, within the bounds of Pennsylvania, to convenient markets,
was one of the earliest plans of improvement entertained by the enterprise
of the Atlantic States. The Chenango and Chemung Canals are known
to have been completed for the purpose of reaching the extensive beds or
coal and mines of iron in that State, and the North Branch Canal was
commenced, on its part, to meet the advances of New York, and to inter­
sect one or both of those works. The canal to which we last alluded was
prosecuted with great industry from the year 1836 to 1841. During the
month of May of the latter year, a suspension of all the public works upon
the unfinished lines of internal improvement was ordered by Pennsylva­
nia, and at that time there had been expended upon what is denominated
“ the North Branch Extension,” the sum of two millions four hundred and
eighty-four thousand nine hundred and thirty-nine dollars and sixty cents.
During the next session of the Legislature, a law was passed authorizing
the incorporation of a company for the purpose of finishing that portion of
the line extending from the mouth of Lackawanna Creek to the northern
boundary of the State, and thirteen miles of what was termed the “ Wyo­
ming Line,” running from the Lackawanna down to the mouth of Solo­
mon’s Creek, which had cost the State five hundred and fifty thousand
dollars, were added to “ the North Branch Extension,” all of which was
proposed, under certain conditions, to be yielded up by the State.
In consequence of its inability to borrow the sum necessary to complete
the work, upon which more than three millions of dollars had already
been paid, the State now agreed to relinquish the work to the enterprise
of a company, for the period of forty years, upon condition that a little more
than a million of dollars should be expended in its completion. On that
part of the line reaching from the Lackawanna to the northern boundary
of Pennsylvania, a distance of more than ninety-four miles, detached sec­
tions, amounting to a little more than thirty-two miles, have been com­
pleted, and more or less work has been done upon the remaining portion.
There is another important consideration connected with this work, which
is, that nearly all of the lands to be occupied have been leased for the use
and occupation of a canal, to be constructed by or under the authority of
the State of Pennsylvania. The connection of the North Branch Canal
with the Chemung Canal of New York, at Elmira, will complete the line
of inland navigation from tide-water to the great lakes.
The tonnage upon which the canal must depend for its revenue will be
chiefly derived from the mineral products of the region stretching along
its border. It will consist of anthracite and bituminous coal, iron,
gypsum, salt, lime, and limestone. But although those products will
doubtless constitute the greater portion of its freights, there will be a con­
siderable amount realized from the transportation of sawed lumber, shin­
gles, staves and heading, merchandise, agricultural productions, as well as
that which is derived from miscellaneous articles.
A prominent, and, we may add, a principal staple of exportation by the
canal and its connecting works, would be derived from the rich coal beds




292

The Lackawanna and Wyoming Coal Region.

of the Wyoming valley. The resources of the Wyoming coal region in
that useful product are not generally known. It is believed, from a pretty
full examination, that in the thickness of the beds, the quality of the coal,
and the facilities for mining and shipping it upon the canal, this interest­
ing valley abounds in that mineral, and possesses advantages for mining
to an equal if not a greater extent than any other part of the State of Penn­
sylvania. In evidence of this fact, it may be stated that a large amount
of Wyoming coal is now exported more than two hundred miles to tide­
water, and, in the markets of the Atlantic cities, enters into successful
competition with coal carried from other regions but half that distance
from the sea-board. By the terms of their charter, the North Branch Ca­
nal Company possess the exclusive right to the transportation of the valley
of the Susquehanna, and in consequence no such rivalry as now exists in
the exportation of this mineral throughout the valley of the Schuylkill can
exist. If, by opening an avenue for the exportation of coal from this re­
gion northward, a market can be found for two hundred thousand tons of
coal, there is in that amount a sure tonnage in this one article equal to
the production of eight per cent upon the capital which is necessary to
complete the work. It is not doubted that by the North Branch Cana],
Wyoming coal could be delivered upon Lake Ontario for less than five dol­
lars a ton.
The increasing consumption of coal in the United States is a fact which
should not be disregarded in considering the importance of this region.
We are informed that throughout western New York, and the populous
region bordering the great lakes, anthracite coal is but little used, except­
ing in carrying on a few branches of manufactures. Its use is applied to
an increasing number of objects, and it is alleged that a vast amount would
be consumed in the manufacture of salt, in iron foundries, and other spe­
cies of manufactures, as well as for domestic purposes throughout the
country bordering the great lakes west of Utica ; without estimating the
amount to be shipped at Oswego and Buffalo for the markets on the lakes
and in Canada, and for the use of steamboats. The anthracite coal of
Pennsylvania is now employed in steamboats which navigate the St. Law­
rence, to which point it is brought by sea from New York, and is used
with advantage at the cost of forty-four dollars and eighty cents a ton one
hundred miles north of the city of St. Louis. At Syracuse and other salt
villages a very large amount is likewise consumed. There is at present
no avenue by which the region bordering the lakes can be directly sup­
plied ; but when the North Branch Canal is completed, the country west
of Utica can be provided with this product, and we are told that Pennsyl­
vania anthracite can be delivered at Buffalo for about, five dollars and fifty
cents per ton, at Oswego upon Lake Ontario for five dollars* and in
other places at proportionate prices. The coal field of Bradford county,
lying upon the north-eastern verge of the bituminous coal region of Penn­
sylvania, and within twenty-five miles of the State of New York, occupies
an area of about one hundred and fifty square miles, producing bituminous
coal of the best quality; and it is somewhat extraordinary that this tract
of territory, containing such abundant resources, should have been so
greatly neglected by the active capital of the country. It is stated that not
less than five hundred thousand tons of coal would annually find a ready
sale in the country bordering the lakes. Subjoined is a statement—




The Lackawanna and Wyoming Coal Region.

293

SHOWING THE DISTANCES FROM THE MINES BELOW LACKAWANNA, TO VARIOUS POINTS IN THE
STATE OF NEW YORK, WHERE MARKETS W ILL EE FOUND FOR ANTHRACITE; AS ALSO THE
ESTIMATED NETT VALUE OF A TON OF COAL DELIVERED AT THESE SEVERAL POINTS.

From Coal Mines to State Line, 100 miles, $2 55 value of coal per ton.
«
Elmira,
117
2 77
tt
ti
ft
3 00
Seneca L’lte, 140 ft
tt
tt
it
185 tt
3 45
Geneva,
it
tl
ti
Montezuma, 206 tt
3 66
tt
ft
it
4 00
Palmyra,
241 tt
ft
ft
u
4 30
Rochester, 270 ft
tt
ft
if
94
Lockport, 334 tt
tt
ft
Buffalo,
5 25
365 tt
tt
ti
it
Syracuse, 240 it *4 00
ft
tt
If
Oswego,
278 tt
4 38
««
ti
it
Rome,
286 ti
4 46
if
ti
tt
301 tt
4 61
Utica,
ft
ft
a
4 83
Little Falls, 323 U
tt
ti
tt
Schenectady, 381 ft
5 41
tt
tt
tt
5 71
Albany,
411 it
The coal trade is beginning to constitute a very important part of ac­
tive enterprise in the United States. The south anthracite coal field, the
middle and the Wyoming beds of Pennsylvania, it is well known pour
down upon the Atlantic cities a large am ount; and with the decrease of
the forests, and the new application of that product to various manufactur­
ing purposes, the amount is annually augmenting. We subjoin a table
of the amount of its consumption within the last twenty-seven years :—
(<

t(

t(

4

(i

A TABULAR STATEMENT, SHOWING THE INCREASED CONSUMPTION OF ANTHRACITE COAL, FROM

Years.

1820............
1821...........
1822............
1823............
1824............
1825...........
1826...........
1827............
1828............

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

ITS FIRST INTRODUCTION TO THE YEAR 1847.
Tons. Years.
Tons. Years.
365 1829............ ....... 112,082 1838..........
1839..........
1,073 1830............
2,240 1831........... ....... 176,820 1840..........
5,823 1832........... ....... 363,871 1841..........
1842..........
9,541 1833...........
31,893 1831........... ....... 376,636 1843..........
1844..........
48,047 1835............
63,434 1836........... ....... 682,428 1845..........
.......
881,476
1846 .........
77,516 1837............

Tons.
.......
865,414
.......
842,244
....... 1,108,000
....... 1,627,588
....... 2,012,742

Without entering into a particular consideration of the amount of iron,
salt, plaster, and lumber, which would add to the transportation of the
North Branch Canal, it is evident that the sale of Pennsylvania iron would
be largely increased by its completion. The bar and pig iron of the Sus­
quehanna valley could then be carried to Buflfalo at a less price than it
now costs at that place when brought a distance of three hundred miles
from Lake Champlain. All the country in the State of New York lying
between the Susquehanna and Lake Erie could also be supplied with this
useful product; and as there is no duty charged upon American iron in the
Canadas, it might be exported even to those markets. It is indeed com­
puted, from a well-accredited source, that not less than four hundred thou­
sand tons of Pennsylvania iron would find an annual outlet through the
North Branch route ; the boats carrying coal and iron into that region
would bring back salt, plaster, and water lime ; and the. country lying near
the banks of the Susquehanna would derive their supplies of those products*
* Coal used in manufacturing salt would go free of toll from Elntira to Syracuse; and
the cost for that object, would be $3 75 per ton.




294

Mercantile Law Cases.

from the State of New York through the Susquehanna and North Branch
improvements. Another source of prosperity to the work would be the
transportation of lumber from the northern counties of the State, sixty
millions of feet of which now annually descend the Susquehanna.
An important feature of the works of the North Branch Canal Compa­
ny, which will extend about one hundred and seven miles, is, that it will
complete a continuous line of transportation extending from the coal fields
of Wyoming, to Philadelphia, New York, Baltimore, and also the West.
By their completion, the products of this region, now comparatively shut
out from convenient markets, will find their way through various lines of
communication not only to the shores of the lakes, but also to the princi­
pal cities upon the sea-board, and those cities will in return transport the
products of their commercial enterprises to the interior settlements of this
region of Pennsylvania, which will be extended in proportion to the de­
velopment of its extensive and valuable mineral resources.
j. h . l .

M E R C A N T I L E LAW CASES.
LOCKWOOD’S REVERSED CASES*
INSOLVENT ASSIGNMENT—WHEN VOID—FRAUDULENT TRUST.

This work contains an abridgment of the cases (two hundred and forty in num­
ber) reversed in the Court of Errors, up to the time when that Court was super­
seded by the Court of Appeals. The cases are classified according to their sub­
jects, so as to give the course of jurisprudence upon many important questions of
law. Where but a single case is cited under one head, the book can be of little
use to the lawyer. But, in many instances, several decisions upon similar points
are arranged in their historical order; and these parts of the work, showing the
modifications and progress of judicial opinion, are well worth perusal.
The book will be interesting to all who wish to form a correct judgment of the
character of the late Court, and of the policy of conferring legislative and judicial
powers upon the same body of men.
Many of the editor’s comments are valuable and to the purpose. Of the pro­
priety of introducing others into a work of this kind, and of the taste with which
they are written, the patient reader must judge for himself.
We give below an abstract of Mr. Lockwood’s abridgment of several cases
classed under the head of
FRAUDULENT TRUST.

In the first case, Murray vs. Riggs, (15 J. R. 571,) the purpose of the suit was
to test the validity of certain deeds of assignment, made by Robert Murray, for
himself and as attorney for bis partners in the firm of Robert Murray & Co., to
J. B. Murray and J. S. Clark. The first deed, dated in 1798, conveyed the part­
nership property to the assignees, in trust to apply the proceeds to the payment of
the debts due from the firm to the assignees, and to such other creditors as the as­
signors should, within one year, specify by deed, and upon such terms as they,
by such deed, should direct; and, in fault of such direction, then in trust for the
assignors, and, further, with power to change the trustees, &c.*
* An Analytical and Practical Synopsis of all the cases argued and reversed in law and
equity in the Court for the Correction of Errors of the State of New York, from 1799 to
1847. By R alph L ockwood, Counsellor at Law. New York: Banks, Gould & Ca
1848.




Mercantile Lam Cases.

295

Afterwards, in the same year, and in March, 1799, the assignors, by deed, di­
rected tiie payment of certain specified debts, reserving to themselves the power
to alter or to revoke the appointments.
In May, 1800, by virtue of their reserved power they executed a final deed, by
which they directed the assignees to pay, out of the property in their hands, 1. All
expenses incurred—2. Towards the support of the grantors from the date of the
first assignment till they should be discharged from their debts, or until one year af­
ter, not exceeding $2,000 a year, for each of them; 3.4. and 5. To pay certain class­
es of debts; and, 6. That the assignees should make a final settlement with cer­
tain creditors, on specified terms, and hold the residue of the property subject to
the order of the assignors, and “ that the creditors who should not, in one year,
accept the conditions, or should knowingly embarrass the objects aforesaid, should
be forever excluded from any share under the assignment.”
The cause was heard before the Chancellor, who decided that the first deed was
void, under the statute, inasmuch as the power of revocation reserved in it must
have the effect of “ delaying, hindering, and defrauding creditors;” and that the
other deeds were also void, since they were incidental to the first, and dependent
upon it.
The assignee, Murray, (Clark having died,) appealed to the Court of Errors,
where the decree of the Chancellor was reversed, and the assignments were pro­
nounced valid. The prevailing opinion was delivered hv Chief Justice Thomp­
son, who decides that the objection to the assignments, as containing a power of
revocation, does not apply to the deed of May, 1800, which is absolute and irre­
vocable, and that, by that deed, the title of the assignee became perfect.
The reservation of $2,000 a year for the support of each of the insolvents, he
says, “ forms no objection to the appropriation of the residue ; though, in case of
a deficiency to satisfy the creditors, they might apply to a court of equity for the
appropriation of the property so reserved towards the payment of their demands.”
The circumstances of this case were peculiar. It did not appear that any
creditor of the firm complained of the assignments, and the suit was brought, not
by a creditor, but by the assignees of one of the partners, under a commission of
bankruptcy, issued after the execution of the deed of May, 1800. In view of
these facts, Chief Justice Thompson says, “ If the controversy was between John
B. Murray and some person deriving title from Robert Murray & Co. prior to the
31st of May, 1800, and whilst the property was held under the revocable deeds,
a very different question might be presented ; but that is not the case here.” And,
further, “ where the creditor is pursuing his debtor with a judgment and execu­
tion, or in any other manner, to enforce payment of his demand, an assignment
of the debtor’s property containing a power of revocation, may very well be con­
sidered as made to 1delay, hinder, or defraud creditors,’ according to the language
of the statute of frauds. But I do not see how it could, in any sense, be said to
‘ delay ’ or ‘ hinder’ a creditor, who was taking no measures to enforce payment of
his demand, as in the case now before us.”
The authority of Murray vs. Riggs was admitted in Austin vs. Bell, (20 J. R.
442.) In that case, decided in the Supreme Court, the objections to the assign­
ment were that it reserved $2,000 a year for the support of the assignor, and that
it provided that the proportion of those creditors who should refuse to execute the
assignment, should be paid to the assignor.
The Court, following the authority of Murray vs. Riggs, refused to declare the
assignment void on the first ground. But they held that it was the purpose of the
other provision to compel the creditors to accept the terms offered, and they, there­
fore, pronounced the whole assignment fraudulent and void.
The doctrine of the Court of Errors, that the reservation of a sum for the sup­
port of the insolvent does not invalidate his assignment, was finally overthrown
by their decision in the case of Mackie and others vs. Cairnes, Sedgwick, & Lord,
(5 Cowen, 547.) In that case, Cairnes, a merchant, being insolvent, assigned all
bis property to Sedgwick & Lord, in trust to pay his creditors in a certain order.
The assignment also contained the trust, that the assignees should first pay out of
the proceeds of the assigned property, for the support of the insolvent, $2,000 per




296

Mercantile Law Cases.

annum, until he should he discharged from his debts ; such, however, not to en­
dure beyond four years.
The Chancellor declared the assignment wholly void, on account of this reser­
vation. After considering the peculiar circumstances of Murray is. Riggs, he
says, “ I cannot understand the Court of Errors to legalize, by one universal rule,
these reservations of an insolvent debtor for his own use, but I understand, by their
decision, that, in special cases of peculiar equity, the whole assignment shall not
be subverted by this illegal trust.”
The assignees appealed, and a majority of the Court of Errors agreed with the
Chancellor in holding the assignment wholly void, by reason of the trust for the
benefit of Cairnes. The prevailing opinions were delivered by Golden, Senator,
and Savage, Ch. J. The latter pronounces the proposition of Chief JusticeThompson, in Murray vs. Riggs, that the reservation forms no objection to the ap­
propriation of the residue, to have no adjudged case to support it.
“ Is it law,” he asks, “ that every insolvent debtor in this State may, by assigningall his property in trust, secure to himself an allowance of $2,000 a.year, or any
other sum from his own property ? If he may take $2,000 a year, why not
$5,000 2 And if for four years, why not for ten, or even twenty, as in the case of
Murray vs. Riggs ? To state such a proposition is a sufficient refutation of it.”
In the case of Grover vs. Wakeman, (11 Wend. 187,) this Court went still far­
ther in declaring an assignment void. There, the only objectionable feature of
the assignment was, that it gave a preference to a class of creditors, on condition
that they should, on receiving their dividend, give the debtor an absolute dischargeAlthough it was understood that, if these creditors should refuse to discharge the
debtor, they would still, by the terms of the deed, share with the general creditors,
it was decided that this attempted coercion rendered the whole assignment fraudu­
lent and void.
From these cases, the true doctrine appears to be, that the assignment must be
absolute and unconditional, reserving no benefit to the insolvent, and having no
other purpose than the distribution of his property among his creditors.
THE LAW OF PATENTS---ON AN IMPROVEMENT IN THE MACHINE FOR PRESSING PALMLEAF HATS.

In the Circuit Court of the United States, (Boston, Massachusetts.) Chester
Gorham vs. William Mixter, el al.
This was an action on the case for an alleged infringement of a patent, for “ aw
improvement in the machine for pressing palm-leaf hats.”
The defence set up was—1st. That defendants had not infringed ; or, in other
words, that the machine used by them was substantially different in its construc­
tion and mode of operation, from the machine described in plaintiff’s specification
of claim in his letters patent.
2d. That plaintiff was not the original and first inventor of the machine patent­
ed, but that the same was known and used prior to his snpposed invention
thereof.
The plaintiff made application in the autumn of 1839, and obtained his letters,
in March, 1840.
,
The history of the art of pressing in this Commonwealth, so fa? as it was known
to witnesses, was traced from 1830 to the trial.
In 1830, the machine in general use had three blocks for the hat, with a lever
and flat to each, and the pressing of the rim, crown, and top of the hat was per­
formed separately, at three successive operations on the respective blocks by re­
moving the hat from block to block.
These blocks were attached by revolving shafts, which were moved by hand or
any other power, as circumstances dictated ; and the levers to which the pressing
flats were attached were arranged, and the pressing done by the hand.
In 1832, the plaintiff made an attempt to improve upon the old machine. He
constructed a machine in which but one block was used, and made an angular
flat to fit the side and top of the hat at the same time, thereby pressing the whole-




Mercantile Law Cases.

297

hat without removing it from the block. It did not appear in evidence, however,
that by this arrangement the whole hat was pressed at one operation, without a
change of flats.
A similar machine to the last, though somewhat improved in its structure, was
shown to have been put in operation in 1834, by one Brown, of Dana, Mass., used
for a time and abandoned.
Also, one Charles Rice, of Boston, testified for the defence, that in 1835 he con­
structed a machine of the same general character, using one lever and one flat;
that in 1836 he added the second lever and flat, making the two answer the pur­
pose of the three flats ; and in 1838 he added the third lever and fourth flat.
In this machine, the black shaft was turned, and the levers operated by hand,
but the whole hat was pressed without changing flats.
In 1837, the plaintiff invented and put in operation a machine with one block,
three levers, and the same number of flats, by which the hat in all its parts was
pressed by one operation. The shaft was moved by water power, and the levers
to which the flats were appended, were fastened by a catch, so as to press upon
the hat while it revolved in connection with the shaft, thus dispensing with the
power of the operator and in a measure acting automatically.
In the machine patented by the plaintiff, four flats, two for the rim on opposite
sides, one for the side of the crown, and one for the top, are attached to a sliding
frame, which by means of a lever is brought to and removed from the hat-block at
pleasure.
The hat is placed on a block with a table for the rim, on a vertical rotating
shaft. After the hat is placed, the sliding frame is brought forward by means of
the lever, bringing all the flats to their relative and proper position, over and
against the hat. Then another lever is disengaged from the catch, which permits
a weight to act upon a third lever, which in its turn acts upon the vertical shaft
surmounted by the hat, and brings the hat in contact with the flats while the shaft
revolves and thus the pressing is performed. After being thus put in motion, no
further attention from the operator is required, until the hat is sufficiently pressed.
One man can operate three or four machines at the same time, pressing from
twelve to fifteen hundred hats per day, while on the old machine, one man could
ordinarily press but five hundred in a day.
This machine, and what the plaintiff contended were modifications of it, came
into general use soon after its construction, and superseded all that had gone
before.
The defendant claimed that the modification used by them was an original in­
vention of^one Paul Hildreth, formerly of Petersham, made subsequently to plain­
tiff’s invention and patent.
This was denied by the plaintiff, who insisted that it was taken from his ma­
chine, with alterations and modifications, for the purpose of evading the patent;
but under the ruling of the court, it was immaterial as affecting plaintiff’s right of
recovery, whether an original invention or otherwise, being subsequent in point of
time to plaintiff’s invention and patent.
The point most strenuously urged by the defendants was, that their machine dif­
fered substantially from the one patented by plaintiff, and on this point, under the
ruling of the Court, the case turned.
The question arose what plaintiff had claimed and patented,—whether a ma­
chine, as a machine, new in its structure as a whole, or merely a new combina­
tion of old parts ; and if a combination merely, whether a combination effected by
any mechanism, or a combination effected by the means, and operating in the par­
ticular manner described in his specification of claim. If the latter, the question
of priority of invention was disposed of, for it was not pretended that any prior
machine contained the same combination constructed and operating in the same
way.
-But it was contended on the part of the defendants, that if this construction
were given to the claim, they did not infringe, as some of the elements of combi­
nation in their machine were constructed and operated substantially different from
corresponding elements in plaintiff’s.




293

Mercantile Law Cases.

On the question of identity of machines, the plaintiff called as experts Thomas
Blanchard and R. H. Eddy, of Boston, and the defendants called Chas. M. Keller,
of New York city.
S prague, J., charged the jury, that the plaintiff had claimed and patented a com­
bination, constructed and operating as described in his specification, and to that
he was limited; that to constitute an infringement, the defendant must have used
the same combination, constructed and operating substantially in the same way;
that if they had only used two of the three elements of combination, it was not an
infringement. Nor was it an infringement, if any one or all their elements of
combination were constructed and operated substantially different from plaintiff’s.
Yet a mere Change in form or proportion, or substitution of mechanical means
or equivalents, in any one or all the elements, producing the same result, would
not constitute a substantial difference within the meaning of the patent law. Nor
would it be a defence, that they had added to the combination, or any element
thereof, and made improvements, provided they used plaintiff’s combination, con­
structed and operating substantially in the same way.
Such additions and improvements, though meritorious, gave them no right to
appropriate what belonged to another without making compensation. It was for
the jury to say, in view of the evidence, under the instructions of the Court, and
from an inspection of the models before them, whether the defendants’ machine
did in fact contain the combination claimed and patented by plaintiff, constructed
and operating substantially in the same way.
The jury returned a verdict for the plaintiff, and assessed damages at $1,110—
$10 of which was for the use of machines, and $600 for counsel fees.
Rufus Choate and H. E. Smith, for plaintiff. B. R. Curtis and Cyrus Cum­
mings, for defendants.
ACTION OF ASSUMPSIT BROUGHT TO RECOVER MONET PAID TO THE CITT OF BOSTON.

In the Supreme Judicial Court of Massachusetts, (Boston, July, 1848.) The
Tremont Bank vs. City of Boston.
This was an action of assumpsit, for money had and received, brought to re­
cover money paid to the city, under the following circumstances. In the year
1845, a tax was assessed on the said Banking Corporation, as follows, viz:—
Banking house in State-street, valued at $ 45,000—taxed...................................
$ 2 5 6 50
House in Congress-street, valued at $ 6 ,0 0 0 —taxed..............................................
34 20
30 shares Washington Insurance Company........................................
$3,300
50 “
Franklin
“
“
........................................
4,500 *
11 “ Tremont Bank.......... ................................................................
1,067
50 “ Eastern Railroad......................................................................
5,450
150 “ Fitchburgh Railroad................................................................
18,600
Held as collateral, and taxed a t............................ ....................................................
182 40

On the refusal of the Bank to pay these taxes, on the ground of their illegality,
a warrant of distress, in due form, was issued, and delivered for service to one of
the constables of the city, requiring him to levy and collect the said taxes,
amounting to the sum of $473 10, of the Bank, and the same having been de­
manded under the warrant, the Bank paid the same, declaring at the same time,
by its President, that it did so under compulsion, and by reason of the warrant
aforesaid.
The only real estate held by the Bank is their Banking house, which has al­
ways stood on their books as part of the capital stock of the Bank. In the rear
part of the Banking house, as originally built, was a dwelling house, intended for,
and for some years occupied by, the Messenger of the Bank, and his family. Af­
ter the present Merchants’ Exchange was built, the Bank leased this tenement,
and for some years, including the year for which the said tax was assessed, it has
been under lease, at an annual rent. The real estate of banks has heretofore
been taxed by the city, and the taxes paid, but prior to the year 1845 no tax was
assessed on their personal estate.




Mercantile Law Cases.

299

The case came before the Court of Common Pleas upon the above facts, which
the parties agreed to submit, with the right of appeal, and it was accordingly car­
ried up on appeal. It was admitted, that the tax on collateral security was ille­
gal, according to a recent decision. The question in issue was, as to the tax on
real estate.
B. R. Curtis for the Tremont Bank. P. W. Chandler for the City of Boston.
D ew ey , J., delivered the opinion of the Court. By the general provision of the
Revised Statutes, real estate was to be taxed to the owner in the town where the
estate lies. It was objected to the tax on the real estate of the Bank, that by this
means the Bank was liable to double taxation, the real estate being a portion of
the capital stock, and the stockholders being taxed for their stock. But the real
estate is the property of the Corporation, and held by the Bank as a Corporation;
while the stock is held by individuals, as indivfduals. It might, perhaps, be more
equitable to have some such provision of law to meet this difficulty, as in the case
of manufacturing corporations; but that was for the Legislature to provide. They
have not so provided. The result is, therefore, that the real estate is to be taxed
to the Corporation, as such. In relation to the tax on stock held by the Bank as
collateral security, that was settled by the case of the Waltham Bank vs. Town of
Waltham, (10 Metcalf’s Reports, 334,) and it was admitted at the argument by
the counsel for the city, that the plaintiffs must recover it back.
Judgment accordingly for the plaintiff, for the amount of the tax on collateral,
and interest.
SUITS TO RECOVER BACK USURIOUS INTEREST.

In the Supreme Judicial Court of Massachusetts, (Boston, July, 1848.) H. J.
King vs. Owen Howard.
This is a suit to recover back usurious interest. King borrowed of Howard
fifty dollars, payable in one week, and agreed to pay $2 for the the use of the mo­
ney for that time. King accordingly made his note to Howard for $50, payable
in one week, and Howard gave King $48. King eontii ued to pay $2 per week
interest on that note for 24 weeks. At the end of that time King sent by his
brother $56 to pay another note for the latter amount, which had an indorser
upon it. Howard took the #56 and gave up the $50 note. The declaration set
forth the payment of the first two dollars, and the two dollars weekly for 24 weeks,
in all $50, of usurious interest, in one count. The defendant at the trial objected
to the declaration, on account of duplicity and insufficiency, and also to the plain­
tiff’s being allowed to testify; but the Court overruled the objection, and the jury
returned a verdict for the plaintiff for $150. Exceptions were saved, and
allowed.
At the hearing before the full Court, the defendant’s attorney insisted that the
contract to pay the first $2, and the contract to pay the other $48, were distinct
contracts, and should have been set forth in separate counts ; that the first $2 was
reserved, but not paid, and hence the plaintiff could not testify in relation to such
reservation.
F. W. S awyer for the plaintiff. Wii. B righam for the defendant.
W ilde , J., delivered the opinion of the Court. This action was founded upon
the Revised Statutes, chapter 35, sec. 3. The Court were of opinion that the
question of usurious interest was “ put in issue ” within the words of section 4,
and that the plaintiff was rightly admitted to testify. There could be no question,
except as to the first week. There was a material distinction between this case
and that of Brickelt vs. Minot, (7 Metcalf’s Reports, 291.) In that case there
was a lawful contract, and an allegation of the payment of unlawful interest
thereon; but there was no allegation of an unlawful contract. In the present
case an unlawful contract was sufficiently set forth. The question of unlawful
interest having been taken or reserved, was put in issue as to the whole amount
of $50, because the declaration set forth the payment of $50 for 25 weeks. It
was probably the fact, that only $48 was delivered by the defendant to the plain­
tiff at first, but that did not appear from the record before the Court. The evi-




300

Mercantile Law Cases.

denee was not reported. Non constat that the defendant did not deliver the plain­
tiff $50, of which he immediately paid back $2. However that might be, the
Court had not considered what remedy the defendant would have against a judg­
ment for threefold the amount of the whole $50, when it should in justice be for
threefold the $48, because, under the circumstances, the plaintiff would probably
remit the $6, and take judgment for the balance. The exceptions were not sus­
tained.
The defendant also excepted to the decision of the Court at the trial, overrul­
ing a motion for instructions to the effect that the declaration was insufficient.
The granting of such instructions was within the discretion of the Court, and
they were not bound to give them. The proper way to take advantage of insuffi­
ciency in a declaration, was by a demurrer, or a motion in arrest of judgment.
But the matter objected to was merely matter of form, and would be cured by
pleading over or by general demurrer; and special demurrers were abolished in
this State.
Judgment for the plaintiff (who remitted the excess of $6) for $144.
QUESTIONS OF LIABILITY OF TRUSTEES.

In the Supreme Judicial Court of Maine, April Term, 1848.
The railroad company had contracted with the defendants for the performance
of certain work upon their railroad, and to pay them (defendants) from time to
time, as the work proceeded, on the certificate of the engineer, who was at liberty
to deduct whatever sum he thought proper. The estimates of work were render­
ed monthly, and payments made thereon, reserving ten per cent for the comple­
tion of the work. Several trustee processes were commenced prior to the present
one, but between the periods at which the estimates of the engineer were made;
but at the time of the service of the plaintiff’s writ, there was due from the trus­
tee a certain sum under the preceding estimate.
The court (by W hitman, C. J.) decided, (1.) That the trustees were not liable
until the amount payable had been determined by the engineer, according to the
contract. In the mean time, nothing was due on which the process could attach,
for the defendants were only entitled to pay upon the engineer’s certificate. Nor,
(2.) were they liable by reason of the reserved ten per cent, because it was uncer­
tain whether the contract would ever be fulfilled, or whether the work would be
acceptably done, and so nothing was due—it was a mere contingency. In this
case, a certain sum appearing to be due on the engineer’s estimate, the trustees
were charged.
CONTRACTS MADE ON SUNDAY VOID, UNLESS FOR WORKS OF NECESSITY OR CHARITY.

In the Supreme Judicial Court of Maine, April Term, 1848. Webster vs.
Abbott.
This was an action upon a contract for the sale of real estate, which was made
and signed on Sunday.
The court (S hepley , J.) decided that, by the statute of Maine, the contract
was void because made on Sunday; that it was neither a work of charity nor ne­
cessity. The decisions in New Hampshire and Vermont were approved, and a
distinction pointed out between the English statute and the statute of Maine. The
former prohibits labor to persons in their “ ordinary calling,” while the latter pro­
hibits ail “ work, labor, or business, except of necessity or charity.” The decis­
ions, therefore, under the English statute, can afford no precedent, nor rule of
construction under that of Maine. So, also, of the New York statute, which
only prohibits “ sales ” on Sunday.
Judgment for defendants.




Commercial Chronicle and Review.

301

COMMERCIAL CHRONICLE AND REVIEW.
IN F L U E N C E OF P O L IT IC A L A F F A IR S ON C O M M E R C E — IN D IR E C T T A X E S OF F R A N C E — IM P O R T S IN T O FR A N C E
IN

1847-8— R A T E S OF F O R E IG N B IL L S IN N E W Y O R K — A PR O FORM A OF M EX ICA N D O LLA RS TO F R A N C E —

A M E R IC A N G O LD IN LONDON— IM P O R T S IN T O T H E P O R T OF N E W Y O R K — C U STO M S R E V E N U E A T B O ST O N ,
P H IL A D E L P H IA , AND N EW Y O R K — MONEY M A R K E T — U N IT E D S T A T E S R E V E N U E AND E X P E N D IT U R E FO R
T H E F IS C A L Y E A R

1848 — ACCOUNTS FROM E U R O P E — P R O D U C T IO N OF B R E A D S T U F F S IN ENG LA N D — A V E R ­

A G E P R IC E OF W H E A T IN E N G LA N D FO R T H E FO U R L A S T Y E A R S — G R A IN T A K E N O U T O F BOND IN T H E
U N IT E D KINGDOM FO R T H E L A S T T W E N T Y Y E A R S — LAND SOLD IN W E S T E R N S T A T E S IN EA CH YEAR
FR O M

1832— E X P O R T S OF LEA D IN G A R T IC L E S OF U N IT E D S T A T E S PR O D U C E A T D IF F E R E N T P E R IO D S —

A C R E S OF LAND SOLD IN S O U T H W E S T E R N S T A T E S -^ C O T T O N C R O PS OF S O U T H -W E S T E R N S T A T E S FROM

1833

to

1848,

etc

., e t c .

T he state of money affairs during the month has been one of gradual improve­
ment, and doubtless a very considerable degree of general prosperity would, ere
this, have been reached, but for the distrust growing out of political commotion,
which, like the waves of a troubled ocean, succeed each other in ceaseless tur­
moil. The stagnation of business on the continent of Europe and in the manu­
facturing districts of England, has now for nearly a year been very great. Small
as has been production, consumption has still been less, and accumulating stocks
at falling prices have been a prevailing feature; while distrust of credits has
helped to enhance the depreciation of wares, by increasing the value of money
and restricting trade. The state of affairs in France has continued such as to
offer to dealers of other countries great bargains for cash, and specie has con­
tinued to flow thither when the nominal rates of exchange were opposed to such
an operation.
The operation of political affairs in France upon the course of trade, is made
evident in the official returns of the indirect taxes for six months ending with
June, as follows:—
Customs..........................................
“
for June...........................

1847.

1848.

Francs.

Francs.

Decline.
Francs

65,000,000
11,000,000

33,000,000
5,890,000

27,000,000
5,110,000

The large decrease in June arose from the paralysis that overtook business in that
month in consequence of the insurrection. From the trade returns, it appears
that the quantities of all raw materials for manufactures taken for consumption
have fallen off immensely, as follows:—•
IMPORTS INTO FRANCE DURING THE SIX MONTHS ENDING W ITH JUNE.

1847.
Cotton ..........................
W ool.....................................
Raw silk...............................
Spun silk...............................
Olive oil...............................
Cast iron...............................
Copper................................
Lead...................................
Zinc .............................. ............................
Mahogany..................... .............................
Sugar, colonial...............
Coffee.................................... .............................

Cocoa........................... .............................




65,000
23,000
90,000
11,000

1848.

182,000
34,000
1,064
1,379
70,000
•7,000,000
284,000
20,000
61,000
31,000
5,000
200,000
66.000
6,000

Decrease.

38,000
23,000
1,178
1,445
86,000
3,000,000
228,000
28,000
11,000
34,000
18,000
233,000
24,000
5,000

302

Commercial Chronicle and Review.

The prostration of all industrial employments is great and general, and the pro­
portion of decrease was greatest in the month of June. On the other hand, while
this great decrease of production has taken place, the exports of French products
have increased; as in the case of brandy, 94,000 hectolitres were exported last
year, and 134,000 in 1848. Woven fabrics have also been sold to an extent great­
er than the production; and while the bounty on exports has sufficed to clear the
shelves of warehouses and stocks of manufacturers, it does not appear to have en­
couraged production. The result has been, that France has sold the proceeds of
a great quantity of labor for a small amount of money; her capital has rewarded
her laborers for the gains of foreigners. By these means, the money which the
United States last year obtained for a small quantity of farm produce, is this year
paid out for a large quantity of French products. The operation of bounties on
exports is to dissipate the capital of a country. Thus, in France, when the gov­
ernment pays the exporter a bounty, it enables the latter to send goods out of the
country at cheap rates, that is, to undersell other nations; or, in other words, to
give more French labor for less of that of other countries. To pay this bounty,
the government must tax property. Carried to extremes, this operation would
ultimately annihilate all the capital in the country. It is, in fact, making capital
support labor for the profit of other nations; and it is by this operation that the
United States are now measurably getting rich at the expense of France.
Bills on Paris, although obtained at a low rate, were not available for purcha­
ses, because, being payable in the legal tender of France, bank notes, they did
not afford the facilities of purchase which cash would do. The exports of goods
and of stocks have been such, however, as to afford a sufficient supply of bills to
check the flow of specie to England, more particularly that the importations are
less, as compared with last year, from England in the proportion of 24 per cent.
The rates of bills and specie have fallen as follows:—
FOREIGN BILLS IN NEW YORK.

Sterling.
May 27
(4 31
Jane 3
<» G
tt
10
tt
14
u
17
<• 21
u
24
July 1

104
104
104

a

11

a

in

a
a
a

104
it 4

a
a

s|

a

9

a

94
94
94

a

ft

SI

a

ll

94
9

tt

8

12
19
26
Aug. 5
tt
16
ft

8}

a

a

a

114
11
11
11
11

mi
1114
10
10
104
104
10

a

S4

a

9

Francs. Amsterdam.
5.224
5.224
5.224
5.224
5.224

5 .1 5
5 .1 5
5 .1 5
5 .1 5
5 .2 0
5 .2 0
5 .1 5
5.IG4
5 .2 0
5 .174
5 .2 0

414

42
a 414
a 414
a 41^
a 414
a 414
a 414

Hamburgh.

Bremen. Sover’ns. Napol. 5 Fr’s.

a

41
41
41
41
41
41
41 a
41 a ...
404 a 40J
404 a 4 f |
404 a 41
414 a
404 a 401
404 a 404
40 a 404

364
364

a
a

36

a

35}

a

36

a

36

a

35 i

a

354
3?4
354
3 .-,4
35*
354

a
a
a
a
a
a

364
364
364
36

...
36
36
36
36
354
35*

82
82

a

814

a

81*
81
81
80
80
80
80
79|
79*
794
784
79

a

82*
82*

a
a
a

814
814

a
a
a
a
a
a
a
a
a

80
80
794
794

4 .9 0
4 .9 0
4 .9 0
4 .9 0
4 .9 0
4 .9 0
4 .9 0
4 .8 8
4 .8 9
4 .8 7
4 .8 6
4 .8 6
4 .8 6
4 .8 6
4 .8 6
4 .8 6

3 .9 0
3 .9 0
3 .9 0
3 .9 0
3 .9 0
3 .9 0
3 .9 0
3 .8 8
3 .8 8
3 .8 7
3 .8 6
3 .8 6
3 .8 6
3 .8 6
3 .8 6
3 .8 6

954
954
954
954
954
954
95
95
95
95
95
944
944
944
944
944

In our last we gave a pro forma of a shipment of Mexican dollars to France.
The following is of American gold to London:—
Cost of 10,000 eagles at $ 1 0 ...............................................................................
Insurance ot $100,000 at 4 per cent...........................................
$ 5 0 5 00
Policy, $ 1 25, kegs, packing, &c., $ 4 25................................
5 50
-------------




$100,000 00
510 50
$100,510 50

<

Commercial Chronicle and Review.

303

•

Proceeds of 2 kegs containing 10,000 eagles melted into 30 bars weigh­
ing 447 lbs. 7 oz. 16 dwt. 0 grs., reported worse I f grs., being equal to
439 lbs. 4 oz. 12 dwt. 3 grs., standard, or 5,272 oz. 12 dwt. 3 grs., at
77s. 9d..................................................................................................................£ 20,497 5 1
2 18 3
Allowed by mclters for gold adhered to crucibles...........................................
Charges a t Liverpool—
Freight § per cent, $ 3 7 5 ; at $ 4 80......................................
Landing charges............................................

3

4

130 10

0

Add interest nntil maturity of bills, say 50 days, at 3 per cent..................

£20,369 13
84 17

4
6

Less commission on bills, f per cent on £ 2 0 ,3 5 2 15s. 7d............................

£ 20,454 10 10
101 15 3

Charges at London—
Carriage and insurance to London at 3s. sterling per £ 1 0 0
on £ 2 0 ,5 0 0 ................................................................................
Postage and car hire, 8$., cartage to melter and back, £ 1 .
M elting..........................................................................................
Assaying.........................................................................................

£ 2 0 ,5 0 0
£78
2 6
1 10 0
•
30 15 0
1 8
0
11
4 0
7 10 6

Cash in London......................................................................................... £ 20,352 15

7

The above cost of $100,510 50 would realize this sum in London at an ex­
change of 111 11-100 per cent, or say 11 If per cent, $4 93f per £ . The rate
of exchange resulting from a shipment of sovereigns is not over 110J; hence
the operation of coining the foreign metals that arrive here has a tendency to re­
tain the metals in the country by making their egress less facile. The imports
into the port of New York from July 1st to the middle of August, have been com­
paratively as follows:—
IMPORTS INTO THE PORT OF NEW YORK.

July.....................
August 1 to 4 ...
“ 4 to 11..
T o ta l.................. ..
“ 1847..........
>• 1846..........

Dutiable.

Total.

Duties.

Specie.

Free goods.

51,764

$650,055
63,096
96,600

$7,046,389
1,108,031
2,153,055

$7,761,075
1,171,127
2,311,419

$1,794,236
288,689
551,655

$116,395
294,219
84,466

$809,751
945,779
841,049

$10,307,475
14,956,394
7,800,036

$11,243,621
16,196,392
8,725,551

$2,634,580
3,811,733
2,377,859

The quantity of dutiable goods received here for the fall trade is considerably
less than for the last year. It has also been the case, that the proportion arriving
at New York has been to the whole quantity of imports larger this year than last,
because the goods are to a greater extent sent on consignment, and less to the
order of individuals. The imports, as represented by duties at the three ports of
Boston, Philadelphia, and New York, have been comparatively as follows for the
seven months of the year:—
UNITED STATES CUSTOMS REVENUE AT BOSTON, NEW YORK, AND PHILADELPHIA.

Boston.
1846
............
1847 .......................
1848
............

$3,158,441
3,064,059
2,915,439

Philadelphia.
$1,651,772
1,734,848
1,766,070

New York.

Total.

$11,091,884
11,493,327
12,037,668

$15,902,097
16,232,234
16,719,177

This gives an aggregate increase in the revenues even over last year, when the
amount was so large. These imported goods sell at prices perhaps lower than
ever before realized for goods of the same quality, yet the business of the fall sea­
son does not appear to exhibit thus far a corresponding increase in the quantities




Commercial Chronicle and Review.

304

sold. As expressed in packages, the falling off in imports from Liverpool to the
leading ports of the United States has been some 24 per cent; but it has also
been the case, the packages this year contain a more valuable class of goods, al­
though at lower prices for the styles than usual. The long drain of specie from
the interior of the country has, in connection with the diminished receipts of farm
produce, influenced a great scarcity of money in the interior, and checked the
facility of collections. That promptness in paying up which was last year so
generally experienced, and which caused an extension of credits, is now less per­
ceptible. The jobbing merchant buys his goods at six or eight months’ credit,
and some for even a shorter credit, and for cash. He sells them to almost every
State in the Union for what are called open notes, or notes payable at the store
of the seller at six months, but in nine cases out of ten with the understanding
that the buyer need not feel absolutely bound to pay at maturity. This plan
worked better during the abundance of last year than it is found to do this.
Money in the cities has nevertheless been accumulating, but in view of the ex­
traordinary state of affairs abroad there is no disposition to embark in enterprises,;
on the other hand, every anxiety to realize, and the discount market has been very
stringent. The pressure does not arise from want of specie, of which there is a
great and increasing abundance, while the rates of bills are falling and the export
of specie ceased; but from the disturbed state of our commercial relations with
Europe and the perilous condition of credits, both public and private, pending the
great political upheavings that are now7 on all sides manifest. These admonish
merchants to hold on to money that may be wanted to meet outstanding obliga­
tions, and by this means a large proportion of the active capital of the country is
being locked up. Very considerable sums are offering at rates as low as 6 per cent
upon United States stock payable on demand or short notice, and even less, while
the same lenders will not touch undoubted paper even at 1J a 2 per cent per
month, because, in the latter case, it wrould be beyond their control in case of any
sudden emergency, and the political horizon is by no means such as to warrant
confidence. The accumulation of money in the hands of private dealers, and the
diminished credits, arises in a good degree from the fact that bank loans are di­
minishing in amount, and their paper going out of circulation.
The instalments on the new loan will probably cause some demand for specie,
and it is probable that the somewhat restored confidence in the French govern­
ment, which enables a new stock of S per cent to be negotiated at 65, at which
rate it yields 7 | per cent interest, may check the sale of United States stocks in
London, and thus affect exchanges. The operations of the federal government
have ceased to affect the market to some extent, and the prospect is that its action
will henceforth be imperceptible, paying out specie quite as fast as it receives it.
The following table gives the revenue and expenditure for the fiscal year 1848,
according to the quarterly returns of the department:—
1848.
/------------------------ Quarter ending------- ----------------- >
September 30. December 31.
March 31.
June 30.
Total.
$11,106,257 $5,337,875 $9,383,000 $5,888,568 $31,715,100
896,8-3
908,965
700,000
781,796
3,287,654
58,533
48,500
176,200
35,375
318,608
6,915,078
2,012,450
5,387,820
4,643,300
18,959,648

UNITED STATES REVENUE AND EXPENDITURE FOR THE FISCAL YEAR

Revenue_
Customs........
Lands............
Miscellaneous.
Loans............
Total...........




$18,976,752

$8,307,790

$15,647,020

$11,347,039

$54,281,110

I

Commercial Chronicle and Review.

305

UNITED STATES REVENUE AND EXPENDITURE FOR TIIE FISCAL YEAR 1 8 4 8 — CONTINUED.

r~---------------------------Quarter ending----------------------------- ,

Expense —
September 30.
Civil.................
1,120,453
Army...............
9,186,406
Indians, & c....
1,394,285
2,384,805
Navy...............
Interest.......................................
Debt.................
624,190
Total...........

$14,700,139

December 31.

March 31.

1,641,053
3,216,518
91,805
2,649,749
787,459
919,334
$9,305,918

1,389,582
6,243,460
998,199
1,964,771
228,541
4,701,368
$15,525,922

June 30.

Total.

1,446,978
6,551,724
146,746
2,395,066
1,021,527
1,564,000

5,598,066
25,198,108
2,631,035
9,394,391
2,037,527
7,808,892

$13,126,041

$52,668,019

This table gives the figures quarterly for the financial operations of the federal
government in the last year of the Mexican war, and as compared with four an­
nual returns, the results are as follow:—
UNITED STATES REVENUE AND EXPENDITURE FOR FOUR YEARS.

Revenue—
Customs......................... . ...
Lands............................
Miscellaneous..............
T otal.........................
Expense—
Civil..............................
Army.............................
Indians...........................
Navy..............................
Interest..........................
D ebt..............................
T otal.........................

1816.

1845.

$27,528,112
2,077,023

1847.

1848.

$26,712,668
2,694,452
92,126

$23,747,865
2,498,355
100,571
25,679,199

$31,715,200
3,287,654
318,608
18,959,648

$29,499,246

$52,025,990

$54,281,110

6,782,999
9,818,655
3,760,771
6,450,863
842,723
375,100

6,713,853
37,393,577
3,888,029
7,931,633
1,119,215
2,402,867

5,598,066
25,198,108
2,631,035
9,394,391
2,037,527
7,808,892

$28,031,114

$59,451,177

$52,668,019

4,675,800
6,228,639
1,040,032
7,548,125

The accounts from Europe, apart from the political state of affairs, are fraught
with interest, inasmuch as that it begins now to be pretty evident that consider­
able supplies of food will be wanted in Great Britain. It has of late years be­
come very apparent, that even when the harvest is of good average, the supply
is insufficient to feed the population, and that, consequently, a failure of the har­
vest only enhances proportionably the quantity which England must have. It is
now the case that she requires, in years of good harvest, as much as she formerly
did in years of disaster. To this must be added the fact, that a great change has
taken place in the cultivation of the potato. For a long season of years the dis­
position prevailed, both in England and Ireland, to put more land into potatoes and
less into grain, because an acre of land would produce food enough in the former
shape to feed as many persons as it would require four acres in wheat to support.
In Ireland, where multitudes occupied small patches, it was incumbent on them
to plant with that which would yield the most food. Arthur Young, Mr. Newenham, Mr. M’Culloch, and other great authorities in England, as well as an able
statement of Messrs. Berry and Herring, in the Report of the Commissioner of
Patents at Washington, state that, as food, 4 lbs. of potatoes are equal to 1 lb. of
wheat and l i lbs. of oatmeal. The general average production in England is 9
tons of potatoes per acre, and 28 bushels of wheat at 60 lbs., and of oats 64 bush­
els, 40 lbs. to the bushel; consequently, the product of food per acre is as follows:
Potatoes................. ....................................................................... 9 tons
W heat.................................................................28 bushels, at 60 lbs.
Oats................................................64 bushels, at 40 lbs., in oatmeal
VOL. X IX .---- NO. I I I .




20

20,160 lbs.
1,680 “
1,645 “

Commercial Chronicle and Review.

306

From this, it appears that an acre planted with potatoes will support as many per­
sons as four planted with oats, or three with wheat. The increased population
of Ireland, which rose from 6,036,000 in 1812 to 8,179,359 in 1841, was mostly
sustained by potatoes, taking patches from grain lands and planting with potatoes.
In the English manufacturing districts the same process enhanced the quantity
of cheap food to the operatives, until it was estimated in 1846 that 3,400,000
acres were planted with potatoes, yielding 30,600,000 tons of food. Of this, 60
per cent perished by rot, and the cultivation of potatoes has been abandoned to an
extent which requires an addition of at least 150,000,000 bushels of grain to her
average harvest. Notwithstanding the low prices of the past summer, the imports
into England amount to 1,000,000 bushels per week, and by recent advices a con­
siderable advance in prices.
AVERAGE PRICE OF WHEAT IX ENGLAND FOR FOUR TEARS.
1848.

1847.

1846.

Wheat.

Wheat.

Wheat.

W heat.

77.00
77. 1
74. 5
74. 1
75.10
79. 6
81.10
85. 2
94.10
102. 5
99.10
88.10
91. 7
91. 4
87. 1
82. 3
75. G

55. 5
55. 1
55. 1
56. 0
55.10
55. 6
56. 5
56. 8
55. 5
53. 4
52.10
52. 0
51. 5
52. 2
52.10
52. 3
50.10
49.11
47. 5
45. 2

45.10
46. 5
46. 3
45. 6
45.10
45. 9
46. 8
45.10
45. 9
45. 9
46. 3
47. 7
48. 2
47.10
47.11
47.11
48.10
50. 0

May 25 ...............................
April 1................................

“ 8............................ ...............
“ 15..........................
“ 22...........................
“ 29........................... ..............
May 6.............................
“ 13...........................
“ 20...........................
“ 27 ...............................
June 3 ..................................
“ 10...............................
“ 17........................... .................
“ 24 ............................... .................
July 1................................... ...............
v “ - 8 ................................... ...............
“ 15................................ ...............
“ 2 2 ................................ ...............

51. 6
49. G

46.10
46.11
48. 2
48.10
49 . 1
48.11

7 7. 3

75. 5

“ 2 9 .................................
August 5 ..............................

66.10

1845.

53. 3
5 5. 3

It is to be observed that prices have ruled higher during the present year thus far
than in 1845, notwithstanding the alleged large supply of both home and foreign
grain, and that prices at the present date are higher than in 1846, immediately
preceding the great rise in prices, and are now advancing, when at that period
they were falling. In order to illustrate the actual annual large demand for grain
in England, we may take the following return, published by order of the House
of Lords, of the quantity of grain of all sorts taken out of bond in the United
Kingdom, yearly, for the last twenty years, giving the following totals:—
Years.

Total corn
and grain.
Q uarters.

1826............. ..........
1827.............. .........
1828 ............... ..........
1829............. .........
1830............. .........
1831 ............... ..........
1832 ............... ..........
1833 ............... .........
1834 ................ .........
1835 ................ .........
1836 ................ .........
1837 ................ ..........




2,083,700
2,995,116
1,200,167
1,864,804
2,580,403
2,286,473
427,118
88,583
214,432
423.691
396,902
828,072

Total meal
and flour. Years.
Cwts.

65,940
41,724
126,343
337,066
564,442
1,016,583
162,271
74,744
65,306
42,619
36,916
40,273

Total corn
and grain.
Q uarters.

1838 ..........................
1839........................
1840........................
1841........................
1842........................
1843 ..........................
1844 ..........................
1845 ..........................
1846 ..........................
1847 ..........................
1848, 7 m onths. ..

1,S14,2»3
4,405,613
3,444.345
2,921,329
3,160,430
1,230,901
2,522,342
1,344,182
4,305,185
7,905,419
2,461,508

Total meal
and flour.
Cwts.

388,299
635,170
1,312,964
1,210,137
1,132,385
421,136
710,423
632,045
3,536,971
7,900,880
1,195,958

307

Commercial Chronicle and Review.

The great element of the enormous consumption of last year at the high prices
indicated above, was the railroad expenditure. These continue this year, aided
by low prices of grain. The number of persons employed by the companies is
over 350,000, per official reports, and the “ calls ” for July amounted to j£3,885,021,
say $20,000,000, being at the rate of an annual expenditure of $250,000,000.
With this element of the means of popular consumption, the prospect is now that
the demand will be enhanced by damaged harvests; and it will be remembered
that the duties come off finally in February, 1849, after which the trade will be
free. Under these circumstances, it is not improbable that the present will be
the lowest year of export of farm produce for many years to come.
The capacity of the United States to supply food in almost any quantity, is be­
coming more apparent each year. As an indication of this, we compile from
official sources the number of acres of land sold by the federal government in
each of the agricultural States:—
ACRES OF LAND SOLD IN THE WESTERN STATES.

Years.

Ohio.

1832 .....................................
412,714
1 8 3 3 ......................................
551,153
1834 .....................................
478,847
1 8 3 5 .................................
661,435
1836 ................................. 1,282,991
1837 .................................
470,042
1838 .................................
243,095
1 8 3 9 .................................
242,444
1840 .................................
33,050
1841 .................................
43,613
1842 .................................
35,715
1 8 4 3 .................................
13,388
1 8 4 4 .................................
33,054
1845 .................................
11,252
1846 .................................
120,660
1847,9 months.................
85,664

Illinois.

Indiana.

227,375 i 54G.841
360,240
554,681
354,013
673,656
2,096,629 1,586,904
3,199.708 3,245,344
1,012,849 1,249,817
778,560
602,424
1,132,876
618,748
389,275
118,868
335,558
93,882
437,403
55,795
407,767
50,545
489,410
107,278
486,586
78,562
438,920
102,076
328,180
154,544

Michigan.

252,211
447,780
512,760
1,817,247
4,189,823
773,522
97,533
134,984
26,106
18,167
25,000
12,594
22,328
25,016
30,874
37,762

Iowa &

Wise.

.................
.................
.................
217,543
646,133
178,783
361,861
948,875
695,681
175,414
178,893
311,122
371,431
744,290
867,006
798,828

Total........................ 4,719,479 12,475,349 9,839,971 8,423,709
6,744,417
These figures represent the breadth of land taken annually by each State directly
from the federal government. In the years 1835-6, when speculators tvere ap­
propriating large tracts, with the view to compel settlers to pay high prices, a
small proportion only of the sales fell into the hands of the immigrants. These
lands have since been gradually purchased to some extent for cultivation, and
have in that proportion competed with the subsequent sales of the governmentIn the last two years the sales of the government lands have considerably revived.
The progress of national exports do not seem to have kept pace with the set­
tlement of the lands. The following table shows the quantities of certain articles
sent out of the country:—■
EXPORTS OF LEADING ARTICLES OF UNITED STATES PRODUCE AT DIFFERENT PERIODS.

W heat........... ..
Flour...............
Rice.................
Corn................ •bush.
Corn m e a l.... ..bbls.
Beef and pork.,. “
Provisions.......
Tobacco..........
Cotton............. .. lbs.
Manufactures..
Amer. to n n ag e e n t . .
Population....

1807.
1821.
1840.
1845.
1811.
1846.
1847.
25,821
408,910
770.814
1,720,680
389,710
1.613,797
4,399,951
1,056,119
1,806,529
1,897,501
1,249,819
1,195,230
2,289,476
4,382,496
221
116,517
101.6(0
118,621
102,027
124,007
144,427
571,312
1,018 721
607.277
574,279
840.184
1,826,068 16,326 050
207,604
206,(63
136.460
131,(69
269,030
298.790
948,060
112,033
85,962
123,456
133,534
262,147
339,645
318,169
2,596,422
2,739,016
2,755,000
2,242.726
5,796,654
7,421,179 10,806,615
86.718
83,186
66.858
119.484
147,168
147.998
135,762
63,914,459 124,893 405 276,979.784 743.941,061 872,905.996 547,557.000 527,219,985
7,147,364
2,120,000
2,754.631
9 ,4 10.2C0
9.130.000 10,525,064 10,476,345
914.704
1,576,946
1.089,876
769,084
2.035,486
2,151,114
2,701,359
6,000,000
9,638,131 12,860,020 17,063,353 30,000,COO 20,600,000 22,000,000




88

Commercial Chronicle and Review.

308

From 1807 to 1840, the value of provisions exported did not maintain itself. It
has since quadrupled, and has become the second item in our list of exports, with
every probability of becoming ultimately the first. The cotton culture has, on
the other hand, received an evident check. The following table shows the quan­
tity of land purchased of the federal government annually in the new cotton
States:—
ACRES OF UNITED STATES LANDS SOLD IN THE SOUTH-WESTERN STATES.

Alabama.

Years.

1833.....................................
1834.....................................
1835..................................... ..............
1836.....................................
1837.....................................
1838.....................................
1839.....................................
1840.....................................
1841.....................................
1842.....................................
1843..................................... ..............
1844.....................................
1845.....................................
1846..................................... ..............
18 4 7 ,9 months..................

1,587,007

178,228
83,284

Mississippi.

Louisiana.

1,221,494
1,064,054
2,931,181
2,023,709
256,354
271,074
17,787
19,174
21,635
43,966
34,560
34,436
28,232
38,324
21,596

89,441
82,570
325,955
829,456
230,932
164,178
500,307
189,228
95,111
44,360
102,986
99,319
88,830
48,976
55,944

Arkansas.

41,859
149,756
630,027
963,535
281,916
156,971
154,858
110,610
54,860
24,391
47,622
55,122
36,241
14,204
74,048

Florida.

11,970
16,309
48,364
87,071
108,839
68,814
56,496
25,602
6,388
5,553
8,318
14,714
20,054
35,452
19,788

This table gives the quantities of land in these cotton States, and the influence
upon the cotton culture is seen in the following table of the annual product of
those States. The receipts of cotton at New Orleans embraced the Arkansas,
Louisiana, Mississippi, and Tennessee crops; and those of Mobile and Florida
the product of those States respectively.
ACRES OF LAND SOLD, AND CROPS OF COTTON IN THE SOUTH-WESTERN STATES.

Arkansas.
Years.
1833....... ... 1,816,038
1834...... ... 1,383,226
1835...... ... 5,522,534
1836...... ... 5,805,180
1837...... ... 1,269,834
1838......
850,386
1839......
401,394
1840......
228,699
1841...... ...
238,077
1842...... ...
371,654
1843......
288,355
1844...... ...
251,252
1845....
220,240
1846...... ...
272,808
1847...... ...
1848......

Louisiana.
403,443
454,719
511,146
481,536
601,014
731,256
584,994
956,922
820,140
727,658
1,060,246
832,172

Alabama.
129,366
149,978
197,692
226,715
232,243
209,807
251,742
445,725
317,642
218,315
481,714
467,990

Florida.
23,641
36,738
52,085
79,762
83,703
106,171
75,177
136,257
93,552
114,416
161,088
145,562

Total.
All oth. St’s.
556,450
513,988
641,432
562,959
760,923
493,405
788,013
573,615
916,960
506,008
1,047,234
754,263
911,913
448,619
1,538,904
638,931
1,231,334
403,611
1,164,389
519,822
1,703,048
675,827
1,445,724
584,685

1,037,144
705,978
1,167,120

421,966
323,462
428,866

141,184
127,852
149,612

1,600,294
1,157,293
1,745,598

500,243
621,358
527,540

There has been sold, it appears, in these five cotton States since 1833, 20,774,556
acres of new land. Of these, particularly in Louisiana, a considerable quantity
has been appropriated to sugar; but from the results, it appears that the largest
proportion has gone to cotton culture, and the consequence is, that in the year
1843 the crops reached a maximum of 2,378,875 bales, of which 1,703,048 was
in those new States, and their yield is a little more this year, but the production
of the old cotton States has not varied. In the five new States, the settlement of
20,774,000 acres of land has resulted in an increase of 1,200,000 bales in the




Journal o f Banking, Currency, and Finance.

309

crop of cotton, more than doubling the product of 1833. The increase of the
force applicable to the cotton culture has been greater in the last five years than
the result of the crops, the aggregate of which has increased but very little since
1840, or in the last eight years, while in the previous eight years it had doubled.

JOURNAL OF BANKING, CURRENCY AND FINANCE.
F IN A N C E S OF BRAZIL.
EXPENSES, DEBT, AND REVENUE OP THE BRAZILIAN EMPIRE.

W e are indebted to the courtesy of L. H. F. D’A g u ia r , Consul General of Brazil to the
United States, for the following statement of the financial condition of the Brazilian em­
pire, as also for the commercial statistics o f that country, which will be found under the
appropriate department in the present number of the Merchants' M agazine, & .C .:—
-

According to the Annual Report of the Secretary of the Treasury, presented to the
Chambers of Representatives in May last, the Secretary shows the following item3 of the
expenses of the empire for the fiscal year 1849-50:—
Home Department.........
Justice..............................
Foreign Affairs..............
W ar..................................

3 ,2 5 9 :2 2 9 0 0 0 0 N a v y ................................
1,8 3 8 :2 9 5 0 7 6 7 Treasury...........................
509 :2500000
T otal.......................
6 ,9 7 7 :2 9 0 0 5 0 0

3,646 :0460223
11,753: 803 0345
2 7 ,9 8 3 :9 1 4 0 8 3 5

Iu the expenses o f the Treasury no less than 8,436: 8550444 is applied for the interest
and sinking fund of the National Debt, which is at present as follow s:—
Foreign..................
Internal..................
N ot yet converted
Treasury notes

54,996:0 0 0 0 0 0 0
48,583:4000000
5 5 8 :3 1 2 0 0 4 8
5 ,0 3 1 :0 0 0 0 0 0 0

T o ta l................... .......
Government paper money

109,1 6 8 :7 1 2 0 0 4 8
4 7 ,0 0 0 :0 0 0 0 0 0 0

Total debt of Brazil....................................................................

156,168 : 7120048

The foreign debt is owned in London. Principal....... ............................. .'___
Bearing an interest of...............................................................................................

£6,187,050
315,346

W hich has always been punctually paid every six m onths; and the funds sent to London
by the government from April, 1847, to March, 1848, amounted to £422,463.
According to official documents, the following has been the commerce and revenue of
the empire.
Years.

Imports.

5 0 ,6 3 9 :0 0 7 0
1842- 43 ..........
1843- 44 ..........
5 5 ,2 8 9 :3 4 3 0
1 844- 4 5 ..........
5 7 ,2 2 8 :0 1 9 0
5 0 ,6 5 4 :8 2 7 0
1845- 46 ..........
1846- 47 .......
5 2 ,6 4 0 :9 7 0 0
And the revenue from all sources has
1 8 44-45...

Duties.

Exports.

Duties.

41,039:629 0
4 3 ,8 0 0 :2 8 3 0
4 7 ,0 5 4 :3 9 8 0
5 3 ,6 7 4 :3 9 1 0
5 2 ,4 0 0 :7 5 5 0

3 ,4 2 4 :6 3 7 0
3 ,8 2 4 :1 1 0 0
4 ,0 3 6 :3 7 0 0
4 ,6 0 7 :7 5 8 0
4 ,4 2 4 :3 8 0 0

2 4 ,7 7 0 : 5 2 4 0 1 1 8 4 6 -4 7 ...

2 6 ,3 2 2 :3 3 3 0

1 1 ,1 4 2 :5 7 4 0
1 2 ,5 0 2 :2 0 6 0
1 4 ,8 1 2 :1 5 6 0
1 5 ,8 6 2 :8 3 6 0
1 6 ,5 1 2 :4 0 1 0
been

2 4 ,5 1 2 : 7 6 6 0 |1 8 4 5 - 4 6 ...

P E N N S Y L V A N IA B A N K CH ARTERS.
The following banks have given notice that they will apply to the next Legislature of
that State for charters. There are seventeen applications for renewals:—
Bank of Northern Liberties; Bank of Pennsylvania; Farmers and Mechanics’ Bank,
Philadelphia; Bank o f Germantown; Bank of Chester County, W est Chester; Bank of
Delaware County, Chester; Bank of Montgomery County, Norristown; Wyoming Bank,




310

Journal o f Banking , Currency, and Finance .

W ilkesbarre; Farmers and Drovers’ Bank, Waynesburg, Green county; Harrisburgh
Bank, Dauphin county; Lebanon Bank, Lebanon county; Columbian Bank and Bridge
Company, Lancaster county; Lancaster Bank; Dauphin Deposit Bank, Harrisburgh;
Bank of Chambersburgh; Farmers’ Bank, Bucks county, Bristol; Monongahela Bank,
Brownsville, Fayette county.
NEW BANKS.

City Bank, Philadelphia ; Anthracite Bank, Tamaqua, Schuylkill county; Pottstown
Bank, Montgomery county; Freeport Bank, Armstrong county ; Mechanics’ Bank, Minersville, Schuylkill county; Pittsburgh Savings Bank.

T H E BA N K S OF N E W YO RK S T A T E .
The following List of the several Banks of the State of N ew York, with the names
and residences of their respective Agents at this date, pursuant to Chap. 202, Sec. 3, Laws
of 1830, was prepared at the Comptroller’s Office, July 1, 1848:—
Name of the Bank.
Agricultural Bank..................
Amenia Bank.........................
American Bank......................
Ballston Spa Bank.................
Bank of Albion......................
Bank of Attica.......................
Bank of Auburn....................
Bank o f Bainbridge..............
Bank of Cayuga Lake..........
Bank of Central New York
Bank of Chenango................
Bank of Corning....................
Bank of Dansville.................
Bank of Empire State..........
Bank of G en esee...................
Bank of Geneva.....................
Bank of Ithaca......................
Bank of Kinderhook............
Bank of Lake Erie...............
Bank of Lansingburgh.........
Bank of Lowville...................
Bank of Monroe.....................
Bank of Newburgh................
Bank of New Rochelle.......
Bank of Orange County...... .
Bank of Orleans.....................
Bank of Owego......................
Bank of Poughkeepsie.........
Bank of Rome........................
Bank of Salina......................
Bank of Saratoga Springs....
Bank of Silver Creek............
Bank of Syracuse...................
Bank of T roy..........................
Bank of Utica........................
Branch of Bank of Utica......
Bank of Vernon....................
Bank of W atertown............
Bank of W aterville............. .
Bank of W hitestown............
Bank of Westfield................ .
Bank of W hitehall.................
Black River Bank..................
Broome County Bank...........
Camden Bank.........................
Catskill Bank...................... .




Location.
Agent.
Residence.
.Herkimer.............Albany City Bank.............. Albany.
.Leedsville............ Washburn and Co............... Albany.
.Mayville...............Nelson H. Simons.............. N. York.
.Ballston Spa....... Albany City Bank.............. Albany.
.Albion.................. Albany City Bank.............. Albany.
.Buffalo..................N ew York State Bank....... Albany.
.Auburn................ N ew York State Bank....... Albany.
.Bainbridge...........Washburn and C o.............. Albany.
.Ithaca.................. Washburn and C o.............. Albany.
.Utica.................... Albany Exchange Bank.... Albany.
.Norwich...............N ew York State Bank....... Albany.
.Corning................Mech. and Farmers’ Bank. Albany.
.Dansville..............N ew York State Bank....... Albany.
.Fairport................Washburn and Co............... Albany.
.Batavia.................N ew York State Bank....... Albany.
.Geneva.................Henry Dwight, Jr................ N . York.
.Ithaca................... American Exchange Bank.N. York.
.Kinderhook.........American Exchange Bank.N. York.
.Buffalo................. N ew York State Bank....... Albany.
.Lansingburgh... .Pepoon and Hoffman......... N. York.
.Lowville...............Albany Exchange Bank....Albany.
Rochester.............N ew York State Bank....... Albany.
.Newburgh........... Merchants’ Exch’ge B ank.N . York.
.New Rochelle....Oliver W h ite.......................N. York.
.Goshen................. S. Van Duzer....................... N. York.
Albion.................. N ew York State Bank....... Albany.
.O wego................. Albany Exchange Bank....Albany.
.Poughkeepsie......Merchants’ Exch’ge Bank.N . York.
.Rome....................N ew York State Bank....... Albany.
.Salina................... Commercial Bank...............Albany.
.Saratoga Springs.New York State Bank.......Albany.
.Silver Creek.......Albany City Bank.............. Albany.
.Syracuse.............. New York State Bank........Albany.
.Troy......................Bank of State of N . York.N. York.
.Utica.....................Albany City B ank...............Albany.
.Canandaigua.......Albany City B ank...............Albany.
.Vernon................. N ew York State Bank........Albany.
.W atertown.........Albany Exchange Bank....Albany.
.Waterville........... N ew York State Bank....... Albany.
.Whitestown........ Commercial Bank................Albany.
.Westfield.............Drew, Robinson, and C o...N . York.
.Whitehall............ N ew York State Bank....... Albany.
Watertown..........N ew York State Bank.......Albany.
.Binghamton........ Mech. and Farmers’ Bank.Albany.
.Camden............... Albany City Bank...............Albany.
.Catskill.................American Exchange Bank.N. York-

Journal o f Banking, Currency, and Finance.

311

Name of the Bank.
Location.
Agent.
Residence.
Cayuga County Bank......................... Auburn.................New York State Bank........Albany.
Central Bank........................................Cherry Valley. ...Mech. and Farmers’ Bank.Albany.
Champlain Bank..................................Ellenburgh...........George Jones.........................Albany.
Chautauque County Bank.................Jamestown.......... New York State Bank......Albany.
Chemung Canal Bank........................ Elmira.................. New York State Bank......Albany.
Canal Bank*........................................Lockport.............. New York State Bank...... Albany.
Chester Bank.......................................Chester.................S. Van Duzer and Son........N . York.
Commercial Bank............................... Friendship........... Washburn and Co................ Albany.
Commercial Bank...............................Lockport.............. Albany Exchange Bank....Albany.
Cbmmercial Bank..............................Rochester.............. New York State Bank........Albany.
Commercial Bank............................... Troy..................... American Exchange Bank.N. York.
Cuyler’s Bank..................................... Palmyra................Henry Dwight, Jr................ N. York.
Delaware Bank....................................D elh i....................American Exchange Bank.N. York.
Drovers’ Bank..................................... Olean.................... Washburn and C o...............Albany.
Essex County Bank*........................Keesville............... N ew York State Bank....... Albany.
Exchange Bank................................... Buffalo..................Albany City Bank................Albany.
Exchange Bank of G enesee............ Alexandert.........Canal Bank....................
Albany.
Exchange Bank................................... Lockport..............Canal Bank.............................Albany.
Farmers’ Bank..................................... Amsterdam......... Albany City Bank................Albany.
Farmers’ Bank.................................... Hudson.................. Mechanics’ Bank................. N. York.
Farmers’ Bank.....................................Mina......................Washburn and C o...............Albany.
Farmers’ Bank.................................... Troy.......................Merchants’ Bank.................. N. York.
Farmers’ and Drovers’ Bank............. Somers.................Merchants’ Exph’ge Bank.N. York.
Farmers’ and Manufacturers’ Bank.Poughkeepsie... .Phenix Bank........................ N. York.
Farm, and Mech. Bank of Genesee.Batavia................ New York State Bank....... Albany.
Farmers’ and Mechanics’ Bank....... Ogdensburgh------Drew, Robinson, and C o..N . York.
Farmers’ and Mechanics’ Bank....... Rochester..............Drew, Robinson, and C o..N . York.
Fort Plain Bank. ................................Fort Plain........... New York State Bank....... Albany.
Fort Stanwix Bank........................... Rome............. ........ N ew York State Bank...... Albany.
Franklin Bank.................................... French Creek___Washburn and Co...............Albany.
Franklin County Bank...................... Malone.................. Washburn and Co...............Albany.
Genesee County Bank......................Le R oy................. Albany City Bank.............. Albany.
Henry Keep’s Bank........................... W atertown......... Gilbert, Cobb, & Johnson.N. York.
Herkimer County Bank....................Little Falls............Albany City Bank...............Albany.
Highland Bank...................................Newburgh.............Phenix Bank......................... N . York.
Hudson River Bank.......................... Hudson..................Leather Manuf. Bank........ N. York.
Hungerford’s Bank..............................Adams..................American Exchange Bank.N. York.
Jefferson County Bank......................Watertown.......... Albany City Bank............... Albany.
James Bank.........................................Jatnesville.............W. S. Kellogg.......................N. York.
Kingston Bank..................................... Kingston.............. Bank of State of N . York.N. York.
Kirkland Bank.................. ................. Clinton................. Albany City Bank...............Albany.
Lewis County Bank........................... MartinsburghJ....Canal Bank.......................... Albany.
Livingston County Bank................. Geneseo................ N ew York State Bank....... Albany.
Lockport Bank and Trust Company.Lockport..............Mech. and Farmers’ Bank.Albany.
Luther Wright’s Bank...................... Oswego.................New York State Bank....... Albany.
McIntyre Bank................................... Adirondack-........ New York State Bank....... Albany.
Madison County Bank...................... Cazenovia............ New York State Bank........Albany.
Merchants’ Bank.................... ............ Canandaigua....... William M. Parks...............N. York.
Merchants’ Bank................................ Ellery.....................Washburn and C o.............. Albany.
Merchants’ Bank of Erie County...Buffalo..................Washburn and Co...............Albany.
Merchants’ Bank.................... ............ Poughkeepsie....Phenix Bank.......................... N. York.
Merchants’ and Farmers’ Bank........Ithaca................... Albany Exchange Bank....Albany.
Merchants’ Bank................................ Carmel.................. Kelly and W eeks................. N . York.
Merchants’ and Mechanics’ Bank...Troy..................... Bank of State of N. York.N. York.
Middletown Bank............................... S. M iddletown...S. Van Duzer........................ N. York.
Mohawk Bank..................................... Schenectady........ Mech. and Farmers’ Bank.Albany.
Mohawk Valley Bank........................ Mohawk Village.New York State Bank...... Albany.
Montgomery County Bank.............. Johnstown............ Albany City Bank...............Albany.
N ew York Security Bank............... Huntsville.............Washburn and Co...............Albany.
N ew York Stock Bank....................Durham.................Washburn and Co............... Albany.
Northern Bank of N ew York......... Madrid................. Washburn and Co............... Albany.
* Caual Bank failed July 11, 1848.

f Revoked July 17; Albany City Bank appointed
t Revoked July 18; Mechanics’ and Farmers’ Bank, Albany, appointed.




312

Journal o f Banking, Currency, and Finance.

Name of the Bank.
Northern Exchange Bank.
Northern Canal Bank.........
Ogdensburgh Bank..............
Oliver Lee and Co.’s Bank.
Oneida Bank........................
Onondaga County Bank....
Ontario B a n k .......................
Ontario Branch Bank......... .
Otsego County Bank...........
Palmyra Bank......................
Patchin Bank....................... .
Pine Plains Bank.................
Powell Bank........................
Pratt Bank.............................
Prattsville Bank...................
Putnam County Bank....... .
Rochester Bank....................
Rochester City Bank..........
Sackett’s Harbor Bank.......
Saratoga County Bank.......
Schenectady Bank.............
Seneca County Bank..........
State Bank at Saugerties...
Steuben County Bank.........
Suffolk County Bank..........
Tanners’ Bank.....................
Tompkins County B ank...
Troy City Bank....................
Ulster County Bank............
Unadilla Bank.....................
Village Bank........................
Walter Joy’s Bank..............
Washington County Bank.
Warren County Bank........
Westchester County Bank.
W hite Plains Bank...........
White’s Bank o f Buffalo...
Wooster Sherman’s Bank...
Y ates County Bank............

Location.
Agent.
Residence.
.Brasher Falls...... Washburn and Co.............. Albany.
.North Granville.Wilson Defendorf...............N . York.
.Ogdensburgh*....Canal Bank.......................... Albany.
.Buffalo...................Albany City Bank...............Albany.
.Utica...................... Albany City Bank.............. Albany.
.Syracuse..............Canal Bank........................... Albany.
.Canandaigua........ Albany City B a n k ............. Albany.
-Utica...................... Albany City Bank.............. Albany.
.Cooperstown.......Mech. and Farmers’ Bank. Albany.
.Palmyra............... Henry Dwight, Jr................ N. York.Buffalo..................N ew York State Bank....... Albany.
.Pine Plains.........Pepoon and Hoffman.......... N . York.
.Newburgh...........American Exchange Bank.N. York.
.Buffalo.................Washburn and Co............... Albany.
.Prattsville........... Mechanics’ Bank.................N. York.
.Farmers’ M ills....Drew, Robinson, and C o..N . York.
.Rochester.............Mech. and Farmers’ Bank.Albany.
.Rochester-............Albany City B ank.............. Albany.
.Sackett’s Harbor.New York State Bank...... Albany.
.Waterford........... Pepoon and Hofiman......... N . York.
.Schenectady........Canal Bank...........................Albany.
.Waterloof........... Canal Bank...........................Albany.
.Saugerties........... Washburn and Co................Albany.
.Bath...................... N ew York State Bank.... .Albany.
.Sag Harbor.........John Thompson................... N . York.Catskili.................American Exchange Bank.N. York.
.Ithaca.....................Albany City Bank.............. Albany,
.Troy..................... Union Bank..........................N. York.
.Kingston............. Merchants’ Exch^ge Bank..N. York .
.Unadilla...............Washburn and Co...............Albany.
.Randolph.............Washburn and Co...............Albany.
.Buffalo!............... Canal Bank........................... Albany*
.Union Village.....N ew York State Bank....... Albany.
.Johnsburgh.........Washburn and Co...............Albany.
.Peekskill..............Merchants’ Exch’ge Bank.N . York.
.White Plains...... Thomas A d a m s..................N . York.
Buffalo-..............N ew York State Bank.........Albany.
.Watertown..........American Exchange Bank.N. York..
.Penn Y an ............Albany City Bank...............Albany.

N E W M O N E TA R Y O RG A N IZA TIO N IN H O LLAND.
A new monetary organization has been adopted in that country, and a decree issued'
in consequence concerning the details of its regulation, in accordance with laws passed
by the legislature and approved by the executive.
The preamble of the decree recites, that from the point already arrived at of the re­
fount of the old money, the adoption of a simple standard of value, that of silver, is ren­
dered desirable, with the introduction of other ameliorations in the monetary system o f
Holland, as well as the reunion in one law of all the dispositions which relate to the mon­
etary system. For these reasons, it is decreed that the money of the state shall consist
hereafter in legal pieces, moneys d’appoint, (or supplementary moneys,) and commercial
moneys. The legal pieces in silver (Art. 2 of the decree) are thus designed: The florin
. to form the union of the monetary system of Holland. The ryskdaalder, or piece of 2$
florins. The half florin, or piece of 50 cents.
Art. 3. The money d’appoint in silver (supplementary for change) to consist of pieces
of 25 cents, 10 cents, and 5 cents.
Art. 4. The money d’appoint in copper to consist of pieces of 1 cent, or the hundredth
part of the florin, and of a half cent.
* Revoked July 17; Albany City Bank appointed,
t Revoked July 18; Mechanics’ and Farmers’ Bank, Albany, appointed.
X Revoked July 13; Mechanics’ and Farmers’ Bunk, Albany, appointed.




Journal o f Banking, Currency, and Finance .

313

Art. 5. The commercial moneys to be the gouden Willem (golden Williams) and the
golden ducat. Of those moneys double pieces may be struck, and of the first kind halves.
Art. 6. The florin to contain 9 grammes 450-1000 of fine silver. The weight of the
florin to be 10 grammes, with a tolerance of 3 milligrammes above and below the weight.
The title to be 0.945 milliemes <Jf fine silver, with a tolerance of 1^ millieme, as well
above as under the weight.
Art. 7. The weight of the ryskdaalder to be 25 grammes; that of the half florin 5
grammes; that of the piece of 25 cents 3 grammes 575 milligrammes; that of the 10
cents piece 1 gramme 400 milligrammes; that of the 5 cents piece 685 milligrammes.
The allowance of weight is, for the ryskdaalder, 2 milliemes; for the half florin, 5 mil­
liem es; for the piece of 25 cents, 6 milliemes; for the 10 cents piece, 10 milliemes; for
the piece of 5 cents, 12 milliemes of gramme, as well above as below.
Art. 8. The title of the ryskdaalder and half florin to be the same as that of the florin,
with the same tolerance. The title of the money d’appoint in silver to be 640 milliemes,
with a tolerance of 4 milliemes above and below in weight.
Art. 13. The gouden Willem to contain 6 grammes 56 milligrammes of fine gold. The
weight of the gouden Willem to be 6 grammes 729 milligrammes, with a tolerance of 1^
millieme of the weight above and below. The weight of the double gouden to be 13
grammes 458 milligrammes, with a tolerance of 1 millieme of the weight above and below. The weight of the half gouden to be 3 grammes 364^ milligrammes, with a toler­
ance of 2 milliemes of the weight above and below. The title of the gouden W illem,
as well as of the double and half, to be 900 milliemes, with a tolerance of a half millieme
above and below.
Art. 15. The golden ducat to contain 3 grammes 434£ milligrammes of fine gold. The
weight of the gold ducat to be 3 grammes 494 milligrammes, with a tolerance of 1^ mil­
lieme of the weight above and below. The weight of a double ducat to be 6 grammes
988 milligrammes, with a tolerance of 1 millieme of the weight, above and below. The
tit^) of the simply as of the double ducat of gold to be 983 milliemes, with a tolerance of
£ * illie m e , above and below the weight.
In the meantime, and as the new system comes into usage, all old coins and denomi­
nations o f specie values, in circulation according to former laws, to remain still legally
current, and receivable in all payments as before.
BA N K S A N D B A N K IN G IN IR E L A N D .
Previous to 1783, the whole o f the banking business was carried on by private individ­
uals. The failure of many of these led to the establishment, in that year, of the Bank of
Ireland, with similar privileges to the Bank of England, the most important of which was,
the restricting of all other banks to six partners each. In 1797, when the Bank of Eng­
land suspended its payments, the same privilege was extended to Ireland. After this pe­
riod, the issues of the Bank of Ireland were rapidly increased. In 1797, the amount of
its notes in circulation was £621,917 ; in 1810, £2,266,471; and in 1814, £2,986,999.
Its capital, originally £600,000, was increased at different periods, and now amounts to
£3,000,000. It draws on London at ten days’ date, grants no cash credit, nor allows in­
terest on deposits.
In 1804, there were fifty private banks in Ireland, all of which have failed or wound
up their accounts, except three in Dublin that continue to transact business. About that
period the silver currency of the country, though generally in a debased state, became
more valuable in the form of bullion, and was all melted down. The place of the coins
was supplied in Dublin, and many other parts, by counterfeits; and, in several districts, by
a paper currency, issued for sums decreasing from 6s. to 3 d.t and even less. It is esti­
mated that in 1804 there were 295 issues of this paper money, chiefly by merchants, shop­
keepers, and petty dealers. The mischiefs arising from this system led at length to its
suppression by law, and the wants of the trade were supplied by stamped dollars rated at
6s., and by silver tokens of lOrf. and 5 d., issued by the Bank of Ireland. In 1821, the
charter of the Bank of Ireland was renewed for seventeen years, and its capital was en­
larged to £3,000,000, of which £1,615,384 was deposited with government at 4 per cent,
and £1,015,384 at 5 per c e n t; total, £2,630,768. The yearly dividends of the bank have
been at no time less than 5$ per cent, except in 1783-4, when they were 5, and in 1792-3,
2 f . From 1800 to 1814, they were 7, 7£, and 7£ ; from 1814 to 1829, 10 per cent, ex­
cepting two years ; and since 1829, the rates have been 9, 8£, and 8 per cent. Besides
these dividends, the proprietors, at different times since 1793, have received bonuses
amounting to £665,000 Irish. On the renewal of the Bank of Ireland’s charter in 1821,
joint stock banks were allowed to be established beyond 50 miles Irish from Dublin ; but
the arrangement was inoperative until several vexatious restrictions were repealed in 1824.




314

Journal o f Banking , Currency, and Finance .

This relief was followed by the institution of the Provincial, Hibernian, Northern, and
some other banks. The Provincial, established in 1625, is managed by a board in Lon­
don, assisted in the towns in which it has branches by a local agent, and a committee of
shareholders of ten shares and upwards. The Northern, Belfast, and Ulster Joint Stock
Banks, are confined chiefly to Ulster. The National Bank has a board in London con­
nected with local banks in the principal towns in Ireland. The capital of each bank is
subscribed by, and the profits divided equally between, the London board, and each local
bank— the supreme control being in the former. The Bank of Ireland, and all the joint
stock banks, except the Hibernian and Royal, issue notes for £ 1 and upwards. Their total
circulation in 1840 was from £5,500,000 to £6,500,000. Most of the banks have
branches; the Bank of Ireland began to establish them in 1825. Since the expiry of the
Bank of Ireland’s charter in 1838, it has been continued by act of Parliament from year
to year until 1845, when it has been regulated by the new banking act, 8 and 9 Vic. c.
37, according to the following principles:— The bank to continue the banker of govern­
ment, which is to pay, for the ten subsequent years,
per cent on the debt it owes to the
bank. The proceedings of the establishment to be under the same rule which has been
applied by Parliament to other banking institutions, and to make weekly returns, similar
to those of the Bank of England under the new act, containing a full development of its
affairs, the amount of its bullion, and the variations in the quantity thereof. The oath
for the discouragement of Popery has been discontinued, no distinction being now to be
made as to the oaths administered to Protestant and Catholic directors on their entrance
into office, or to members before voting. The proposal for this alteration came from the
existing board of directors, which consists chiefly of Protestants.
By the same act, any bank privileged to make and issue notes may relinquish this right
in favor of the Bank of Ireland according to certain regulations, (Stat. 8 and 9 Vic., cap.
37, 1845,) but cannot resume such privilege. Persons having charge of public moneys
may be members of banks— the restriction preventing joint stock banks being carried on
within 50 miles of Dublin repealed—members to be responsible for the liabilities of the
bank— may sue and be sued in the name of their officers—names of partners to be re­
turned annually to the Stamp Office, (penalty £ 5 0 ,) and to be published in the Dublin
Gazette. Bankers who have issued notes in the year preceding 1st May, 1845, and none
others, may continue such issue on receiving a certificate from the Stamp Office stating
the average amount of their notes during that period, and of the amount of their gold and
silver coin— weekly accounts of the amount of notes and gold are to be rendered to the
Stamp Office, and a four weeks’ average of same to be set forth; if the monthly circula­
tion exceed the average, the excess to be forfeited— monthly return of averages to be pub­
lished in the Dublin G azette—bankers’ books may be inspected by an officer of stamp
duties, with consent of the Treasury— notes to be for a pound or pounds only, without
fractional parts; penalty £ 2 0 . Notes of bankers or others, bills of exchange, transfera­
ble orders and undertakings for delivery of goods, issued after 1845 to be void, if under
£ 1 ; penalty £ 5 to £ 5 0 . Notes for £ 1 or less than £ 5 issued after 1845, must specify
the name and place of abode of the person to whom payable ; with other provisions— pen­
alty £ 2 0 . Persons issuing notes for less than £ 5 , payable on demand, (except bankers,)
to forfeit £ 2 0 . Drafts or orders may be drawm on a banker for payment of money held
by him to the use of the drawer. The new regulation took effect 6th December, 1845.
The amount of the average circulation of the joint stock banks in Ireland issuing notes,
during one year preceding the 1st day of May, 1845, as published in the Dublin G azette,
pursuant to the act 8 and 9 Vic., c. 37, was rated at £6,354,494.
The number of the joint stock banks now doing business is given in the annexed table:—
N am e.

Bank of Ireland..................................................
Hibernian Joint Stock Company, Dublin*...
Provincial Bank of Ireland..............................
Northern Banking Company, Belfast............
Belfast Banking Company................................
National Bank of Ireland........... .....................
Ulster Banking Company, Belfast..................
Clonmel National Bank of Ireland.................
Carrick-on-Suir National Bank of Ireland..
London and Dublin Bank*...............................




Capital
When No. of
instituted, branches. pnid up.
1763
23 £3,000,000
1825
250,000
3
500,000
1825
39
11
150,000
1825
125,000
18
1827
450,000
41
1835
14
250,000
1836
3
1836
1
1836
1836
209,075
8
1839
1843
9

Those marked thus * do not issue their own Notes.

Fixed
issues.
£3,738,428
927,667
243,440
281,611
761,757
311,079
66,428
24,084

Journal o f Banking, Currency, and Finance.
8

9

315

37,

AN ACCOUNT PURSUANT TO THE ACT
AND
VIC., CAP.
OP THE AVERAGE AMOUNT OF BANS
NOTES IN CIRCULATION, AND OF COIN HELD BY THE SEVERAL BANKS OF ISSUE IN IRELAND,
FROM JANUARY
TO NOVEMBER

3, 1846,

7, 1847.

BA N K O F IR E L A N D .

During the four weeks ending—

1846— January 3 ........................ ..
January 31........................
February 2 8 .....................
March 2 8 .........................
April 2 5 .............................
May 2 3 .............................
June 20.............................
July 18........ ..................................
August 15.........................
September 12 ...............................
October 10 ......................................, .
November 7 ..................................
December 5......................
1847—January 2 .........................
January 3 0......................
February 2 7 .....................
March 2 7 ..........................
April 24............................
May 22..............................
June 19.............................
July 17..............................
August 14..........................
September 11...................
October 9 .......... ..............
November 7 ....................

Circulation.

Coin.

£4,351,200
4,305,975
4,304,350
4,257,200
4,355,025
4,359,400
4,119,850
3,995,875
3,876,700
3,923,575
4,184,575
4,431,000
4,375,025
4,212,225
4,115,300
4,026,950
3,857,800
3,803,525
3,623,525
3,327,400
3,232,475
3,107,100
3,026,550
3,152,200
3,274,350

£1,247,955
1,269,315
1,333,095
1,370,175
1,372,795
1,373,956
1,347,635
1,223,883
1,190,362
1,145,197
1,088,154
1,118,907
1,105,796
1,133,740
1,017,418
1,006,153
990,338
959,544
851,803
776,456
750,823
752,394
741,600
731,592
706,636

P R O V IN C IA L BA N K .

Circulation.

£1,153,725
1,199,897
1,217,969
1,253,412
1,251,415
1,212,638
1,122,642
1,054,045
1.032,913
1,053,834
1,183,193
1,301,260
1,280,039
1,198,648
1,131,772
1,066,931
1,027,694
998.979
900,308
813,698
775,478
770,762
787,820
856,704
871,453

Coin.

£502,576
498,963
500,008
509,345
509,768
498,213
440,669
367,502
373,013
327,567
442,892
584,856
606,145
588,909
519,463
434,911
410,745
380,792
336,335
306,364
328,911
328,939
321,248
343,974
388,555

TABLE — CONTINUED.
B E L F A S T BA N K .

1846— January 3 .........................
January 3 1......................
February 2 8.....................
March 2 8 .........................
April 25............................ .
May 2 3.............................
June 2 0.............................
July 1 8 ...... ;......................
August 15.........................
September 12...................
October 10.........................
November 7......................
December 5.................
1S47—January 2 .........................................
January 3 0 ......................................
February 2 7 ..................................
March 2 7 .........................................
April 2 4 ..............................................
May 22 ................................................
June 19 .............................................. .
July 1 7 ..............................................
August 14 ....................... .. . . .
September 1 1 ..............................
October 9 .........................................
November 7.....................

.£380,699
379,982
386,172
383,326
381,369
342,558
321,445
311,076
303,100
312,807
358,191
406,581
430,403
399,728
367,199
341,315
321,228
300,219
246,321
212,799
208,074
210,914
224,244
251,165
271,705

£178,000
183,544
170,496
160,558
159,534
159,321
154,869
157,040
163,415
161,350
162,168
169,685
204,715
214,689
198,517
183,600
168,078
138,117
103,741
101,880
101,469
107,230
103,418
101,699
98,604

N O R T H E R N BANK.

£276,678
269,993
275,587
268,177
262,584
238,636
218,578
203,233
201,542
200,487
221,909
252,731
257,357
242,504
230,331
218,862
205,963
201,479
177,572
157,151
151,468
147,600
148,539
162,316
179,156

£114,544
116,496
119,620
121,667
123,681
125,245
125,122
128,993
131,428
130,003
131,912
131,564
135,047
130,538
128,656
86,779
88,532
73,065
67,877
61,692
64,119
60,681
55,791
43,580
47,796

T A B L E — C O N T IN U E D .
U L S T E R BANK-

1846—January 3 ............................
January 3 1 ........................
February 2 8 .....................
March 2 8 ..........................




£344,679
366,634
385,394
374,329

£ 1 0 0 ,8 6 8

103,460
106,759
101,797

NA TIO N A L BANK.

£809,514
799,387
809,042
814,541

£307,661
317,783
296,640
263,215

316

Journal o f Banking, Currency, and Finance.

During the four weeks ending—
1846—April 25.......................
May 23.......................
June 20........................
July 18........................
August 15...................
September 12...............
October 10..................
November 7 ................

December

5

U L ST E R BANK.

Circulation.
£358,127

Coin.
£86,790
72,662
71,880
77,081
81,216
83,034
81,534
90,470
121,271
125,019
111,403
84,803
86,812
86,168
53,982
42,396
46,287
45,970
44,358
42,622
46,664

275,988
262,561
310,090
375,696

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

1847— January 2...................
January 30..................
February 27 ..................
March 27 .......................
April 24..........................
May 22........................
June 19...........................
July 17 ...........................
August 14...................
September 11.................
October 9....................
November 7 ................

374,344
339,555
251,641

165,464
180,822
217,792

NA TIO N A L BANK.

Circulation.

Coin.

£831,996
860,342
826,652
786,745
748,077
766,239
911,888
977,851
993,803
990,203
977,939
981,575
940,123
888,719
793,601
708,637
654,828
630,066
618,522
651,731
634,419

£235,176
234,634
242,055
279,352
289,119
300,002
299,225
362,641
372,069
381,139
331,807
362,287
343,942
332,714
250,066
243,855
247,950
252,991
246,835
236,150
226,775

TABLE--- CONTINUED.
C A R R IO K -O N -S U IR N A TIO N A L BANK.

1846—January 3....................
January 31..................
February* 28................
March 28...................
April 25...........................
May 23...........................
June 20...........................
July 18................. ........
August 15.......................
September 12...............
October 10.....................
November 7 ..................
December 5 ..................
1847—January 2 ......................
January 30....................
February 27................
March 27...................
April 24......................

£27,011

£7,958
7,879
7,641
7,762
8,121
7,502
7,430
7,655
7,478
7,440
6,845
6,891
7,734
7,616
7,396
4,801
4,271
4,854
3,927
4,603
5,418
5,883
6,415
6,189
5,761

28,872
28,744
27,126
21,762
20,473
26,053
27,375
25,218
22,525
20,300

May 2 2 ...........................
June 19.......................
July 17........................
August 14....................
September 11...............
October 9...................
November 7................

17,136
15,420
16,911
16,973

C LO N M EL N A TIO N A L BANK.

£60,860
61,622
62,353
65,231
68,109
68,826
62,647
55,948
48,756
48,199
55,656
63,021
70,061
72,195
.72,112
77,815
77,762
78,291
71,583
64,486
55,240
49,311
46,393
53,632
53,466

£29,602
33,592
34,041
33,639
30,748
27,412
25,142
25,280
27,764
28,329
27,587
20,022
16,818
17,362
18,576
18,845
21,382
17,881
14,891
11,636
12,360
13,133
12,557
11,906
15,725

CONDITION O F T H E BA N K S OF M A IN E , M A Y 1, 1848.
FROM THE ANNUAL REPORT TO THE LEGISLATURE.— W ITH THE DATES OF INCORPORATION.

Recharter.

1846
44
(4

((
1847
1846
ts

44

Name.

Augusta Bank..............
Freeman’s Bank.........
Granite Bank..............
Eastern B ank.............
Kenduskeag Bank.......
Mercantile Bank.........
Belfast Bank...............
Commercial Bank......




Location.

«
44

tt
(4

.

Capital.

Circulation.

Deposits.

$110,000
50,000
75,000
100,000
100,000
50,000
50,000
50,000

$100,600
67,200
79,500
114,800
67,200
55,200
58,000
50,200

$44,200
25,500
10,500
25,700
30,800
16,000
12,600
18,900

Journal o f Banking, Currency, and Finance.
CONDITION OF THE BANKS OF MAINE MAY

1847
1846
1847
1846
tt
tt
it
it
tt
it
it

tt

it
tt
tt
ft

1847
1846
tt
tt
ft
ft
ft

1, 1848 ----CONTINOED.

Location.
Lincoln Bank................... •Bath......................
it
Sagadahock Bank...........
Biddeford Bank............... .Biddeford............
Brunswick Bank.............. .Brunswick..........
Calais Bank..................... .Calais....................
Frontier Bank.................. .Eastport..............
Lime Rock B ank....i— .E. Thomaston....
Gardiner Bank................. .Gardiner............
Northern Bank................. .H allo well............
Bank of Cumberland.... .Portland..............
ft
Canal Bank......................
ft
Casco Bank......................
ft
Man. &, Traders’ Bank..
it
Merchants’ Bank............
Manufacturers’ Bank...... .Saco.....................
ft
York Bank.......................
South Berwick Bank...... .S. Berwick.........
Androscoggin Bank........ .Topsham............
Skowhegan Bank............ .Skowhegan........
Medomac Bank.............. .Waldoboro*........
Ticonic Bank................... .W aterville.........
Mariners’ Bank............... . W iscasset..........
Thomaston Bank............. . Thomaston........

Recharter.

317

Capital.

Name.

$125,000
50,000
50,000
60,000
50,000
75,000
100,000
100,000
75,000
100,000
400,000
300,000
75,000
150,000
100,000
75,000
100,000
50,000
75,000
50,000
75,000
50,000
50,000

Circulation.

$84,800
62,200
53,700
48,500
32,000
20,800
1)9,600
74,400
47,000
99,400
279,000
160,100
54,900
124,200
60,700
69,800
45,000
50,300
69,900
60,800
60,100
37,600
68,000

Deposits.

$94,800
38,600
34,400
12,200
15,000
21,700
52,200
45,300
22,500
33,100
122,000
94,600
24,200
86,800
33,300
25,300
6,000
21,000
5,300
22,700
32,300
19,000
83,200

Total, 31 banks.............................................. $2,920,000 $2,315,500 $1,129,700
RESOURCES.

Bank

Banks.
Original Charter.
Specie. balances.
. $24,400
$2,100
Augusta Bank................
Freeman’s Bank............. ...M arch 2, 1833............ .
18,800
9,800
..
21,300
Granite Bank..................
..
36,500
3,000
12,000
Kenduskeag Bank......... ...J u ly 13, 1847 ...............
Mercantile Bank........... .
9,600
3,400
..
10,900
3,300
Belfast Bank....................
9,200
19,800
Commercial Bank..........
,.
15,300 124,100
13,600
48,600
Sagadahock Bank......... .....A pril 1 ,1 8 3 6 ................ ..
9,700
Biddeford Bank.............. ...J u ly 2 6 ,1 8 4 7 ................
10,400
9,100
20,400
Brunswick Bank.............
6,400
500
Calais B ank...................
3,500
2,800
Frontier Bank................
Lime Rock Bank..........
30,300
..
13,000
Gardiner Bank...............
18,700
4,600
Northern Bank............... ....M arch 2, 1833.............
8,100
Bank of Cumberland........M arch 19, 1835..........
15,500
Canal Bank....................
..
69,500
43,200
2,400
Casco Bank....................
Man. and Traders’ Bank...February 27, 1832....
100
7,100
Merchants’ Bank............
..
58,200
10,000
7,900
15,300
Manufacturers’ Bank....
12,600
18,500
York Bank..................... ....A p ril 1, 1831............... ..
3,600
South Berwick Bank....
4,200
Androscoggin Bank...... ....February 1, 1834........ ..
12,800
28,800
Skowhegan Bank.........
6,200
Medomac B ank............ ....A p r il 1, 1836............... ..
17,400
14,100
..
10,500
Ticonic Bank.................
20,700
8,900
Mariners’ Bank.......
8,100
.. .20,600
Thomaston Bank..........
74,700
Total, 31 banks




Total

Last

resources, div’d.
$274,300 2
147,200 3
175,100 5
254,100 5
220'400 3
123,000 9J
123,400 5
120,700 4
333,200 5
152',800 4
140,200
121,500 4
103,800 3
124,300 3
214,200 3 4
226,100 5
146,800 5
236,000 3J
822,500 3
573,900 34
163,400 4
379,800 4
200,100 4
175,500 5
155,700 3
126,800 4
151,000 34
135,400 4
168,100 4
109,400 4
202,400 4

$521,500 $579,100 $6,601,100

318

Journal o f Banking , Currency, and Finance.

The charters of the Bank of Bangor, Bank of Westbrook, Central, Franklin, Kenduskeag, ^Lincoln, *Megunticook, and *South Berwick Banks, expired in October, 1847Those marked * have been renewed. Acts were also passed incorporating the Biddeford,
Commercial, Kenduskeag, and Lewiston Falls Banks.
The Bank of Brunswick has been authorized to reduce its stock from $75,000 to
$60,000, which took place October, 1847.
The bank capital of Maine in May, 1847, was..................................................

$3,059,000

T o which add increase of the following:—
Lincoln Bank, Bath.............................................................................
Lime Rock Bank, Thomaston...........................................................
South Berwick Bank............................................................................
Biddeford Bank, (new).........................................................................
V

$25,000
50,000
50,000
50,000
-------------

175,000

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

$3,234,000

Deduct charters expired:—
Bank of Bangor, Bangor.................................................................... $100,000
Megunticook Bank, Camden.............................................................
49,000
Franklin Bank, Gardiner.....................................................................
50,000
Central Bank, Hallowell.......................................................................
50,000
Bank of Westbrook..............................................................................
50,000
Bank of Brunswick, reduced..............................................................
15,000
----------

314,000

Bank capital of 31 banks May, 1848........................................................

$2,920,000

The banks have increased their specie 100 per cent since May, 1847, and the coin on
hand is equal to 22 cents for every dollar of circulation.
B A N K O F E N G L A N D R A T E S O F IN T E R E S T .
The London Bankers’ Magazine, contains the following statement, showing the varia­
tions which have taken place in the rate of interest charged on advances by the Bank of
England from its first establishment to the present tim e:—
From August 8, 1694, to August 30, 1694, on foreign bills............................... ,per cent ;E6
August 30, 1694, to January 16, 1695, on foreign bills........................... ........... H
October 24, 1694, to January 16, 1695, on inland bills...................................... 6
January 16, 1695, to May 19, 1695, on foreign bills................................ .......... 6
January 16, 1695, (to customers of the bank,) on foreign bills.............. .............. 3
January 16, 1695, to July 26, 1716, on inland bills.................................. .......... H
May 19, 1695, to February 28, 1704, on foreign bills............................. ............... 4
May 19, 1695, on foreign bills not payable at the bank......................................... 5
February 28, 1704, to June 22, 1710, on foreign bills.............................
June 22, 1710, to July 26, 1716, on foreign and inland bills..................
4
July 26, 1716, to April 30, 1819, on bills and notes.................................
5
April 30, 1819, to October 27, 1720, on bills..............................................
5
October 27, 1720, to August 23, 1722, on bills.........................................
4
August 23, 1722, to October 18, 1742, on inland bills.............................
5
44
“
“
on foreign bills.............................
4
October 18, 1742, to December 12, 1744, on foreign bills.......................
December 12, 1744, to May 1, 1746, on foreign bills (15 days to run)
4
44
44
44
on inland bills.................................
5
May 1, 1746, to April 5, 1773, on foreign bills..........................................
5
May 1, 1746, to June 20, 1822, bills, &c. (95 days to run)...................
4
June 20, 1822, to December 13, 1825,
44
....................
5
December 13, 1825, to July 5, 1827,
44
....................
5
July 5, 1827, to July 21, 1836,
44
...................
4
July 21, 1836, to September 1, 1836,
44
44
September 1, 1836, to July 15, 1838,
44
....................
5




Journal o f Banking, Currency, and Finance.
From February 13, 1838, to May 16, 1839, (95 days to run).
May 16, 1839, to June 20, 1839,
June 20, 1839, to August 1, J839,
“
August 1, 1839, to January 23, 1840,
“
January 23, 1840, to October 15, 1840, on 65 day bills.
October 15, 1840, to June 3, 1841, on 95 day bills........
June 3, 1841, to April 7, 1842,
“
........
Ap(il 7, 1842, to September 5, 1844,
“
........
September 5, 1844, to March 13,1845, on bills.............
“
“
.
“
on notes............
March 13, 1845, to October 16, 1845, minimum rate....
October 16, 1845, to November 6 ,1 8 4 5 ,
“
November 6, 1845, to August 17, 1846,
“
August 17, 1846, to January 14, 1847,
“
January 14, 1847, to January 21, 1847,
“
January 21, 1847, to April 8, 1847,
“
April 8, 1847, to August 5, 1847,
“
August 5, 1847, to September 2 3 ,1 8 4 7 ,
“
September 23, 1847, to October 25, 1847, “
October 25, 1847, to November 22, 1847,
“
November 22, 1847, to December 2, 1847, “
December 2, 1847, to December 23, 1847, “
December 23, 1847, to January 27, 1848,
“
January 27, 1848, to June 16, 1848,
“
June 16, 1848, to the present time,
“

319
•per cent £ 4

............ 5
............ 5*

..........

6

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

4

............ 5
............ 5
........... 5
........... 24
............ 3
............. 2i

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

3
34
3
34
4

............ 5
............ 54

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

...........

6
8
7
6

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

4

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

............ 5
............. 34

C H IN E SE C U R RENCY.
B A N K N O T E S IN V E N T E D B Y T H E C H IN E S E .

The learned orientalist, Klaproth, in his “ Memoirs relative to Asia,” gives a curious
and interesting account of the origin of paper-money, which he traces to the Chinese* It
must be premised, that the Chinese annals are more complete than those of any other na­
tion, because the keeping of them has always been a State affair, and not left to the in­
dustry of private individuals; and from these authentic records Klaproth translates the
following facts:—The earliest trace of a currency having a nominal instead of a real val­
ue, occurs during the reign of the emperor O u-ti, in the year 119 before the Christian
era. It appears that the treasury of that sovereign got into so low a condition, that the
expenses o f the State exceeded its revenues. He was fortunate, however, in the services
of a financial minister, whose genius planned and executed a system of nominal currency.
This consisted of pieces of deer-skin, about a foot square, ornamented with paintings and
highly-wrought borders. These represented the value of 40,(100 deniers, (about $58,)
but were only current amongst the grandees and at court. Out of them a revenue was
collected in a manner characteristic of the people:—from time immemorial, every person
who is admitted into the presence of the “ Son of Heaven ” covers his face with a screen,
or small tablet, for he is supposed to be quite unable to bear the blazing light of the em ­
peror,’s countenance; and, at the time we refer to, whoever was honored with invitations
to his repasts and entertainments, was obliged to cover his screen with one of these phi-pi,
or “ value in skins,” which he was condescendingly allowed to leave behind him. This
plan, once set on foot, appears to have been often followed in after years. W e find be­
tween, and for some time subsequently to, the years 605-617, disorder prevalent in China
to such an extent, that the country was nearly without a coinage, and all sorts of things
were used as money—such as round pieces of iron, clothes cut up, and even pieces of
pasteboard; but it is not till nearly three centuries after, that the history of regular papermoney commences. Hian-tsoung, of the Thang dynasty, whose reign commenced A . D.
807, was the founder of banks of deposit and issu e; for he obliged rich families and mer­
chants who arrived in the capital to deposit their valuables and goods in the public treas­
uries, for which paper receipts or acknowledgments were given, and made current under
the name of fey-th sian , or “ voluntary money.” Thei-tson, who reigned in 960, adopted
the same plan.
Between the years 997 and 1022, we find that the paper-money system was established
* “ Sur l’Origine du Papier-Monnie.”— Memoires Relatifs a l’Asie, par M. J. Klaproth,
voL ii., p. 375.




Journal o f Banking, Currency, and Finance.

320

in China, such as is at present followed in Europe— that is to say, the issue of credit pa­
pers as currency, without being guaranteed by any substantial pledge or mortgage what­
ever. These primitive bank-notes were called Ichi-tsi, or “ coupons.” From that time
to the present, bank-notes have been in use in China under various names—those current
at present being called pao-tchhao, or “ precious paper-money.” Thus the Chinese have
had a banking system, with all its attendant advantages and evils, in full operation at a
far earlier period than any other nation ; and bankrupts, forgers, and monetary crises,
have been rife in China for ages. W e learn from Gutzlaff* that, a few years ago, some
new financial arrangements were made, with a view to putting the paper currency on a
better footing, but they were much impeded by a low stqje of public and private credit.
Banks, both of deposit and issue, exist in every large Chinese town, conducted by com­
panies or private individuals, who issue pian-thsian, or cheques— the “ precious papermoney ” being only circulated by the government. Bills of Exchange are not very often
used, on account of a prevalent bad faith in commercial transactions.
De Gulgnes, in his work on China, gives an engraving of a Chinese bank-note. It is
a square paper, having on one side an inscription which states the amount it is issued for,
(1,000 deniers, or “ cash,”) and that it is a note of the emperor Zong-King, of the Ming
dynasty. On the other side, the Chinese equivalent of the following sentence is printed:—
“ At the petition of the treasury board, it is'ordained that the paper-money thus marked
with the seal of the imperial dynasty of the Mings, shall have currency, and be used in
all respects as if it were copper-money. Whoever disobeys, will be beheaded !”
The researches, then, of M. Klaproth prove that, besides the discovery of the proper­
ties of the magnet, the invention of writing materials, printing, and gunpowder, we owe
to the Chinese the basis of our present system of bank-notes and banking.!
CO INAG E OF T H E D U T C H M IN T.
The Dutch Mint have published a notice of the number and amount of coins struck off
for the account of the state during the course of 1847. The descriptions of coins struck
off are as follow s:—
9,387,175
8,385,519
1,100,882
2,001,000

rix dollars, or pieces of 24 florins, amount to....................................
florin pieces................................................................................................
half florins..................................................................................................
half cents.....................................................................................................

23,467,937
8,385,519
550,441
10,005

Total florins................................................................................ / . ................... 32,413,902
On and after the 12th of March, the old coins were to cease from circulation, and will no
longer be taken at the public offices, neither can any one be bound to accept them in
payments.
LEG A C Y D U T IE S PA ID IN G R E A T BR IT A IN .
A statement of the legacy duties paid in Great Britain, for the year 1847, shows the
total amount of capital which became liable to this tax to have been £43,611,642, being
nearly one million in excess of the capital taxed in the preceding year, when it was
£42,630,687. O f this amount, the portion which paid the duty of one per cent, the be­
quests being to children or parents, was £22,234,885 ; the portion which paid three per
cent, for bequests to brothers or sisters, was £14,274,321; the portion at five per cent, to
uncles and cousins, £ 1 ,842,168; that at six per cent, to other more distant relations,
£2 8 5 ,1 5 5 ; and that at ten per cent to strangers, £4,883,375, or about a ninth part of the
whole. The average capital on which legacy duty has been paid during the last half cen­
tury is £28,513,237 per annum.
B R IT ISH S T A M P D U T Y .
S t a m p d u t i e s , & c .—The

gross produce of stamp duties, land and assessed taxes, and
property tax, in 1847, was £17,524,669 ; of which £7,282,273 was from stamp duties,
£4,479,943 from land and assessed taxes, and £5,762,453 from property and income tax.
In England, in 1847, the net receipts on stamp duty on newspapers and supplements ad­
vertisements, £133,567, which is the largest sum paid on advertisements in the last
fifteen years, with the exception of 1833, when it amounted to £137,122.
* China Opened, vol. ii.




t Chambers’ Journal, Edinburgh, 1848.

Commercial Statistics.

COMMERCI AL

321

STATISTICS.

COMMERCE A N D N A V IG A T IO N O F BRAZIL.

W e give below several tables of the commerce and navigation of Brazil, prepared from
official documents for the Merchants’ M agazin e by L. H . F. D ’A g u ia r , the Consul Gene­
ral of Brazil to the United States; to whom, also, we are indebted for a statement of the
debt, expenses, and revenue of that empire, which will be found under our “ Journal of
Banking, Currency, and Finance,” in the present number of this Magazine. The Bra­
zilian government possess in Mr. Aguiar an intelligent and efficient representative of the
interests of that empire, and the citizens of N ew York a courteous and worthy resident.
No foreign government is more acceptably represented here.
In the following table we have the value of the principal imports into Brazil, in the
currency of that country, for the years 1843-44 and 1844-45:—
P R IN C IP A L IM P O R T S IN T O B R A Z IL .

1 8 4 1 -4 4 .

1 8 4 4 -4 5 .

Hardware......................................
Specie, gold and silver...............
Iron and steel, unmanufactured.
Copper,
“
Fish, dried and salted................
Pork and beef, dried and salted.
Spirits............................................
Porter and ale...............................
W in es............................................
Oils—Fish.....................................
Olive...................................
Others..................................
Shoes and boots...........................
Hats, furs, silk, and straw.........
Flour, (vMieat)..............................
Crockery and glasses..................
Butter.............................................
Salt...............................................
Goods—Cotton............................
Woollen..........................
Linen...............................
Mixed.............................
Silk.................................

2,897 : 388,507
161 : 792,750
539:: 547,720
372;: 977,135
973: 058,674
826:: 256,041
189: 869,317
289:: 323,908
2,527:: 749,155
144:: 884,633
394:: 651,243
184 : 145,273
644 : 275,201
671:: 530,948
4,014 : 363,856
1,074 : 180,022
1,302:: 748,691
436:: 985.011
19,037:: 973,122
4,332:: 821,218
2,486:;287,856
1,268 : 473,496
1,295 : 823,338

3,004 : 824,838
1,219: 142,340
780: : 606,854
537: 303,688
1,026: 940,592
989: : 525,245
266: : 605,848
233:: 708,896
2,361 :: 313,132
198:: 278,286
407: : 133,577
80: : 999,068
674:: 760,558
460: : 28.9,235
3,112: : 031,360
1,021: : 130,997
1,314: : 911,766
813: 281,693
20,569: : 863,992
3,755 : 026,135,
2,287 : 440,872
1,093 : 597,833
1,488 : 103,723

Necessary to industry.................
Goods of consumption................
“ ra w .....................................
“ manufactured.....................
“ not specified.......................

7,116:: 475,838

8,924:: 592,774

3,718:: 914,861
45,248:: 555,468
205; 396,360

2,778:: 561,875
44,838: 991,595
685:: 873,336

55,289 : 342,527

57,228 : 019,580

Total.....................................
P R I N C IP A L E X P O R T S O F B R A Z IL I N

1 8 4 1 -4 4 .

Cotton...................... lbs.
26,056,163
R um .................medidas
1,968,421
Rice.................algueires
372,285
Sugar...'................... lbs. 181,855,385
Cocoa.............................
6,061,977
C offee........................... 201,417,010
Hides, dry.....................
25,584,307
“
salted...... ..N o .
521,079
VOL. X IX .---- N O. I I I .




1843-44

AND

1844-45.
1 8 4 4 -4 5 .

3,649:674,671 26,446,253
3,276:774,136
5 41:767,180
3,066,069
615:721,347
431:689,021
196,163
446:968,193
10,313:485,824 239,241,174 14,325:561,742
432:536,884
4,248,162
351:260,377
17,985:816,509 199,336,868 17,508:153,410
3,130:799,365
21,635,821 2,858:403,992
1,882:606,055
591,726
2,375:314,940
21

Commercial Statistics.

322
Tobacco..................Ibs.
W ood............................
Specie, gold and silver

Gold, (oust)................
Half-tanned hides.No.

9,371,030
772:309,631
12,495,734
996:142,456
...................
245 : 651,842 .....................
359 : 716,844
.................................................... 1,624:064,810 ....................
1.139:724,934
................................................... 9 5 4 :7 4 4 ,0 5 0
750:054,142
28,294
66:584,880
44,313
100:176,160
R E C A P IT U L A T IO N .

Raw produce.
Manufactures.
Not speciSed.
Total.

.
.

30,378:652,202
13,148:807,198
272:824,126

30,004:835,720
16,858:743,289
190:818,931

43,800:283,526

47,054:397,940

S T A T IS T IC A L V I E W O F T H E C O M M EK CE O F B R A Z IL , E X H I B I T I N G T H E V A L U E

OF

E X P O R T S A N D IM ­

PORTS.

YEAR ENDINGJUNE 30, 1844.
YEAR ENDINGJUNK30, 1845.
Countries.
Imports.
Exports.
Imports.
Exports.
G. Britain and col.. 29,502:705,83610,546:876,489 30,503:430,156 11.3116:847,987
France and col...... 6,976:210.182 2,671:368,646 7,441:342,993 2,462:116.380
United States......... 6,551:424,861 10,928:201,654 5,703:780,194 9,210:313,227
Portugal and col.... 4,369:552,059 4,097:143,108 4,552:409,663 4,216:262,975
Hanse Towns....... 2,565:399,647 3,174:545,786 2.725:882.068 4,844:389,509
River la Plata........ 1,725:010.988 2,351:913,447 1,711 :688,414 2,427:945,967
Spain and col........
657:931,077
594:816.887
737:330,555 697:016,017
Italy......................
690:580,786
650:466,622
250:377,942 225:560,670
Belgium................
622:387,638
953:065,806
868:782,739 1,612:618.175
Austrian ports.......
491:035,053 3,230:120,459
475:705,295 3,125:936,598
Pacific, ports on....
199:458,987
175:639,126
92:174,760
165:520,950
Baltic, ports on......
171:822,870
32:727,400
67:8^6,774
300:830,001
Whaling................
145:578.927 ..............................................................................
Holland................
102:566,320
21:286,777
126:329,440
125:769,567
Denmark..............
93:591,214
671:920,747
71:412,847
841:695,097
East Indies............
47: 686,397 ................. ...........................................................
Sweden & Norway
23:131,474 1,501:961,667
300:215,670 1,124:948,597
143:461,390
52:447,440 346:686,123
Russia...................
Prussia...................
226:746,537
8:233,728
487:163,085
Sicily............................................................................
99:354,433
169:455,850
Sardinia.................
586:581,078
328:051,487 1,072:788,528
Turkey..............................................
198:075,526 ......................
193:791,920
Notspecified........
353:268,211 1,053:364,374 1,111:193,982 2,096:740,117
Total................. 55,289:342,527 43,800:283,526 57,228:019,580 47,054:397,940
IM P O R T S A N D E X P O R T S , A N D D U T IE S ON B O T H , O F B R A Z IL I N

1844

Y E A R E N D IN G JU N E

Provinces.

Imports.

Exports.

1845.

AND

30, 1844.

Duties on both.

Rio Janeiro.......................
Bahia..................................................
Pernambuco......................................
Marranhao.........................................
P a ra ....................................................
St Pedro............................................
St Paulo............................................
Parahiba.............................................
Cearn.......................... 1.................. .
St. Catharina....................................
Alagoas...........................................
Sergipe...............................................
Espirito Santo..................................
Rio Grande........................................
Pianhy................................................

31,032:412,569
8,482:534,785
8,051:829,914
2,634:276,794
1,179:244,605
3,244:680,534
109:475,025
7:162,662
340:241,451
103:980,755
96:314,210
6:392,820
741,643
...................
54,700

23,846:352,150 8,770:455,204
6,310:010,222 2,422:724,424
5,839:033,288 2,276:705.747
1,752:896,060
727:287,347
988:101,079
358:696,397
2,320:964,565 1,131:558,189
806:040,883
168:804,481
723:812,142
72:313,601
289:186,680
103:960,763
105:858,264
45:396,001
548:187,951
67:289,825
250:440,440
34:49.1,371
18:164,512
8:333,529
381,290
3:037,022
864,000
2:136,531

Total...............................................
Duties received on.......................

55,289:342,527
12,480:582,004

43,800:283,526
..........................
3,712 : 610,438 16,193:192,442




Commercial Statistics.

323
1844 A N D 1845-

IM P O R T S A N D E X F O R T S , A N D D O T IE S O N B O T H , O F B R A Z IL I N

Provinces.

Im p o rts .

Rio Janeiro........................................
Bahia..................................................
Pernambuco......................................
Maranhao...........................................
P ara...................................................
St. Pedro............................................
St. Paulo............................................
Parahiba.............................................
Ceara......................................... f . . . .
St. Catharina.....................................
Alagoas..............................................
Sergipe..............................................
Espirito Santo...................................
Rio Grande.......................... ............
Pianhy...............................................

Y E A R ENDING JU N E
E x p o rts .

30, 1845.
D u tie s o n b o th .

31,007 i: 702,354 22,599:: 321,394 9,467:: 010,974
9,744:: 008.311 8,468:: 935,328 3,172 : 538,291
8,957:; 257,564 6,602 : 011,716 2,862: 885,608
2,256 : 184,442
1,714:; 848,496
769: 720,186
1,070:: 869,326
926:: 790,385
388: 599,216
3,469 : 554,736 2,868 : 931,901 1,626: 171,929
1,489 : 325,228
212;: 697,466
200:: 135,921
828:: 823,987
76:: 442,675
11 : 4211,826
257;: 019,662
372:: 349,823
111 :; 355,298
132 : 792,398
58: 636,871
117:: 271,410
925 : 127,120
84:: 659,782
18:: 917,785
234;: 206,900
26:: 733,949
787,140
141,265
4:: 983,794
4:: 326,735
G:: 218,647
592,630
4 : 525,174
1 : 564,565
1:: 200,000'
1 : 644,000

57.228:: 019,530 47,054 : 397,940
14,812;: 156,354 4,036 : 370,424 18,848 : 526,778
B R A Z IL F R O M 1843 T O 1845 IN C L U S IV E .

T otal..............................................
Duties received on.......................
N A V IG A T IO N O F

1 8 4 3 -4 4 .

Brazilian ...............................
Foreign......................
T otal......................
Coastwise..............

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

Ships.
161
1,769

Ships.
180
1,688

Tonnage.

22,115
456,601

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

1,930
5,102

478,716
369,113

1,868
5,088

508,048
338,252

Tonnage.

27,639
480,409

1 8 4 4 -4 5 .
ENTERED.

Brazilian.....................
Foreign......................
Total......................
Coastwise.......................

Ships.
214
1,925
2,139
4,729

CLEARED.

Tonnage.

31,588
521,802

Ships.
205
1,812

556,390
372,604

2,017
5,011

556,271
372,571

Tonnage.

35,191
521,080

B R A Z IL IA N S H I P P I N G R E G IS T E R E D A T T H E P O R T O F R IO JA N E IR O , IN C L U D IN G C O A S T W IS E .

No.
....................

Barks..........................................
Brigs............................................

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

6
23

.......... - 44
Brig-schooners.................
Yachts .....................................

Tons.

No.

2,258
7/144 Olher small vessels..............
21,936 Steamboats ............
3,61)3
19'558
T otal . . . .
2,326

Tons.

..........

204 13,812
48
1,417
30 6,866

....

666

....
....

78,820

TH E WOOL T R A D E .
The receipts of wool annually increase, and yet the price is well maintained. For the
last three years the quantity which arrived at tide-water from the Erie Canal has been as
follows, distinguishing that corning from other States:—
P O U N D S O F W O O L A R R IV E D O N T H E H U D S O N .

1845.

From other States via Buffalo....................
“

“

Whitehall...............

Total other States..........................................
Produce of N ew York..................................
Total arrived at tide-water......... .




2,957,261
28,407
1,225,840

1816.

1847.

3,797,856
40,650
1,119,121

5,797,852
77,689
1,963,069

4,937,620
3,828,756

7,417,482
2,086,554

8,866,376

9,504,036

324

Commercial Statistics.

This is a pretty bad show for the State clip, but speaks proportionably better for the
products of other States. The western crops have greatly increased, and even Wisconsin
has begun to add important items to the trade. In 1840, she exported 10,562 lbs., and in
1847, 141,592. The receipts via Whitehall are mostly Vermont wool. The importations
of foreign have, however, been much less under the tariff of 1846. The quantity import­
ed for several years has been as indicated in the following table. The tariff of 1842 raised
the rate of duty on coarse wools, that is, wool valued under 8 cents per lb., from free to 5
per cent ad valorem, and the finest wools, that compete with American growth, were im­
ported in a dirty condition and much undervalued, in order to save the duty. Thus, in
1842, coarse wool was free; in 1845, it paid 5 per cen t; and in 1847, 30 per cent. The
quantity imported from each destination at these rates was as follows. W e have given
the year 1847 in two parts, because the first six months was under the tariff of 1842, and
the second six months under the present tariff.
MB

oo
*■*.

IMPORT OF WOOL INTO THE UNITED STATES.
184§.

5 per cent.

Dutch E. Indies..
England.............
Do. N . A. Col’s.
France................

244,695
5.500
38,782

Turkey...............
M exico...............
Brazil..................
Buenos Ayres....
Chili.....................
Other places........

2,249,126
141,699
219,750
7,510,293
196,456

Total 8 cents__
“ over 8 cents

10,637,251
783,701

1847.

1st 6 months.
5 per cent.

1847.

2d 6 months.
30 per cent.

T otal.

763,484
122,099
836,767
727,867
6,686,630
272,840
191,819
11,774,918
311,095
1,694,578

60,019
299,556
62,475
34,675

200,646
234,064
382,921
95,385
4,242

200,646
294,083
682,477
158,957
38,917

2,229,009
408,975
80,087
308,039
825,760
41,822

1,086,704
142,934
57,858
790,746
1,106,812
15,817

3,315,713
551,909
137,945
1,098,785
1,932,572
57,639

23,382,097
450,943

4,296,513
300,657

4,118,129

8,414,642
300,657

11,420,952
23,833,040
8,715,299
Total imports.....
4,597,170
4,118,129
It is observable that the importation in 1845, with the tariff of 1842, was more than
double that of 1842, and nearly three times as much as that of 1847. In the above table
of the receipts at tide-water, it is seen that the quantity fell off in 1846, because of the
low prices, occasioned by the large importation of 1845. The prices have been at differ­
ent periods as follows:—
P R IC E S O F W O O L I N N E W Y O R K .

American
Cents.

1843—October....................... .........
1844—February.................. ..
September.................. ..........
1845—January...................... ..........
April......................................
June............................ ..........
August........................ ..........
1846—January..............................
April..................................
1847—January.............................
April.................................
June ........................
1848—January .................. ...........
April.......................

26
39
33
33
33
274
314
314
27
284

344

American
Saxony.
Cents.

36
44
46
43
424
39
37
39
39
36J
361
424
444
444
42

South America.
washed.
unwashed. Smyrna.
Cents.

Cents.

C ents.

11
13
13

12

*
74
74
7
7

11
11

6

HI
HI

7
7

114

94

6

94

6

104
114

10

6

HI

11

6

114

124

6

114

9
114

13
114

6

6

12
12
11
11
114

12
19
12
June............................
The low point in wool was August, 1845, since when prices have been well advanced,
and the large receipts at tide-water last year were supported in prices by the absence of im­
ports. It will be seen that the change in the tariff made but little difference, and the reason
is, that the inordinately high freights all over the world caused by the demands of England
for food, prevented the movement of other bulky articles. In the present year, the price
o f wool flattens by reason of the large supply of cheap cloths from England and Germany.




325

Commercial Statistics.

PRODUCE REC EIV ED A T N E W ORLEANS FROM T H E INTERIOR.
The following comparison of the value of the principal products of the interior, re­
ceived at the port o f N ew Orleans from 31st August to 1st September, 1845, 1846, and
1847, is compiled from a series of tables which the editors of the N ew Orleans Price
Current have yearly prepared for their “ Annual Statement.” It will be found to exhibit
some interesting facts in regard to the commerce of N ew Orleans with the south and west.
•
Cotton.................
Sugar..................
Tobacco.............
Flour...................
Pork....................
L ard...................
Lead...................
Molasses............
Bacon..................
Corn....................
W hiskey............
Wheat.................
Bagging.............
Beef.....................
H em p.................
Bale rope............
Butter..................
H ay.....................
H ides..................
C oal....................
Potatoes.............
Staves.................
Tallow................
Feathers.............
Oats....................
Corn meal..........
Other articles...

........

1846-7.
$32,589,436
3,552,340

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

4,511,162
3,804,515
1,440,000
2,935,349

........

1,265,530

........

903,570

285,776
50,000
87,450
.......

308,505
7,162,221

Total..........
Total in 1843-4
“
1842 3

1845-6.
$34,716,256
10,265,750
4,144,562
3,770,932
3,666,054
2,729,381
1,982,087
1,710,000
1,671,855
1,556,181
936,832
807,572
917,710
580,784
309,800
255,051
203,580
213,810
135,495
131,400
160,587
147,654
148,590
115,175
202,039
9,762
6,704,565

1844-5.
$23,501,712
9,000,000
3,697,390
2,134,248
2,651,172
1,767.211
1,627,911
1,260,000
906,970
404,953
781,208
129,518
1,113,240
253,576
462,740
338,000
127,216
86,165
147,329
105,375
80,669
70,000
133,926
135,075
100,983
19,792
6,162,743

$77,193,464

$57,199,122
$60,094,716
53,728,054

T R A D E O F TH E U N IT E D KINGDOM W IT H T H E U N IT E D ST A T E S.
It appears from Wilmer and Smith’s (Liverpool) Times, that some interesting partieulars have been given in a British Parliamentary paper, printed on the 14th of June, 1848,
respecting the trade of the United Kingdom with the United States. By the account it
is shown, for thirty-two years, (1815 to 1846, inclusive,) the official value of imports from
the United States, and the official value of our exports. The declared value of the exports are given, and they considerably exceed the official value. Fpr the last twenty years
the imports and exports were (oflicial value) as follow:—
Years.

1826.................
1827.................
1828.................
1829.................
1830.................
1831................
1832.................
1833................
1834.................
1835.................
1836................

Imports.

Exports.

£5,136,334
8,201,711
5,925,617
6,202,606
8,055,962
8,970,342
8,296,488
8,816,088
10,276,628
10,357,743
10,937,407

£5,457,136
8,915,605
6,998,012
6,103,520
8,236,677
12,596,173
7,318,498
11,007,785
9,769,856
15,313,859
15,116,300




Years.

Imports.

1837.......... ... £11,757,477
1838............ ...
15,209,779
1839..........
1840.......... ...
18,062,638
1841.......... ..
13,221,391
1842.......... ...
15,181,342
1843.......... ... 20,738,008
1844.......... ...
18,813,544
1845.......... ... 22,898,695
1846.......... ...
16,945,758

Exports.

£5,693,074
10,323,103
11,085,449
7,585,009
10,468,071
5,067,372
7,572,503
12,022,470
10,789,204
10,316,591

Commercial Regulations.

326

The aggregate value of the imports from, and exports to the United States in the year
1847, cannot at present be exhibited, a sufficient interval of time not having yet elapsed
since the close of the year to admit of the final adjustment of the registers which show
the trade with individual countries.

COMMERCIAL

REGULATIONS-

IM PO RTATIO N OF DRUGS A N D M EDICINES.
W e give below an official copy of an Act passed at the last session of Congress, and
approved by the President of the United States June 25,1848, designed, as we infer from
its title, “ to prevent the importation of adulterated and spurious drugs and medicines.”
It will, perhaps, be recollected that we published, in the Merchants’ Magazine for April,
1848, (Vol. XVIII, page 442,) a statement made by the Trustees of the N ew York Col­
lege of Pharmacy in relation to the adulteration of drugs and medicines by the foreign
manufacturer. W e confess we have but little faith either in the principle or policy of
legislating men into honesty; for, if the law of Reason, Conscience, God, will not re­
strain them from cheating and fraud, it can scarcely be hoped that human legislation will
do i t ; and unless the importers and dealers in drugs and medicines in this country possess
a higher standard of mercantile morality, the purchaser and consumer will gain but little
by the enactment of such laws—indeed, it will only be transferring the abominable prac­
tice to the vender on this side of the Atlantic. But we publish the Act of Congress on
this subject as a commercial regulation of the United States, for the especial benefit of
importers:—
A N A C T T O P R E V E N T T H E IM P O R T A T IO N O F A D U L T E R A T E D A N D S P U R IO U S D R U G S A N D M E D IC IN E S .

Be i t enacted by the Senate and House of Representatives of the United States o f
America in Congress assembled, That from and after the passage of this act all drugs,
medicines, medicinal preparations, including medicinal essential oils, and chemical prepa­
rations used wholly or in part as medicine, imported into the United States from abroad,
shall, before passing the custom-house, be examined and appraised, as well in reference
to their quality, purity, and fitness for medical purposes, as to their value and identity
specified in the invoice.
S ec. 2. A n d be it furth er enacted, That all medicinal preparations, whether chemical
or otherwise, usually imported with the name of the manufacturer, shall have the true
name of the manufacturer and the place where they are prepared permanently and legibly
affixed to each parcel, by stamp, label, or otherwise; and all medicinal preparations im­
ported without such names affixed as aforesaid, shall be adjudged to be forfeited.
Sec. 3. A nd be i t further enacted, That if, on examination, any drugs, medicines, me­
dicinal preparations, whether chemical or otherwise, including medicinal essential oils, are
found, in the opinion of the examiner, to be so flir adulterated, or in any manner deterio­
rated, as to render them inferior in strength and purity to the standard established by the
United States, Edinburgh, London, French and German pharmacopoeias and dispensato­
ries, and thereby improper, unsafe, or dangerous to be used for medicinal purposes, a re­
turn to that effect shall be made upon the invoice, and the articles so noted shall not pass
the custom-house, unless, on a re-examination of a strictly analytical character, called for
by the owner or consignees, the return of the examiner shall be found erroneous; and it
shall be declared, as the result of such analysis, that the said articles may properly, safely,
and without danger be used for medicinal purposes.
S ec. 4. A n d be i t furth er enacted, That the owner or consignee shall at all times, when
dissatisfied with the examiner’s return, have the privilege of calling, at his own expense,
for a re-examination ; and, on depositing with the collector such sum as the latter may
deem sufficient to defray such expense, it shall be the duty of that officer to procure some
competent analytical chemist, possessing the confidence of the medical profession, as well
as of the colleges of medicine and pharmacy, if any such institutions exist in the State
in which the collection district is situated, a careful analysis of the articles inc’uded in said
return, and a report upon the same under oath; and in case the report, which shall be




Commercial Regulations.

327

final, shall declare the return of the examiner to be erroneous, and the said articles to be
of the requisite strength and purity, according to the standards referred to in the next pre­
ceding sections of this act, the entire invoice shall be passed without reservation, on pay­
ment of the customary duties; but,in case the examiner’s return shall be sustained by the
analysis and report, the said articles shall remain in charge of the collector, and the own­
er or consignee, on payment of the charges of storage and other expenses n'ecessarily in­
curred by the United States, and on giving a bond, with sureties satisfactory to the col­
lector, to land said articles out of the limits of the United States, shall have the privilege
of re-exporting them at any time within the period of six months after the report of the
analysis; but, if the said articles shall not be sent out of the United States within the time
specified, it shall be the duty of the collector, at the expiration of said time, to cause the
same to be destroyed, holding the owner or consignee responsible to the United States for
the payment of all charges, in the same manner as if said articles had been re-exported.
S ec . 5. A n d be it further enacted, That, in order to carry into effect the provisions of
this act, the Secretary of the Treasury is hereby authorized and required to appoint suit­
ably qualified persons as special examiners of drugs, medicines, chemicals, &c., namely:
one examiner in each of the ports of N ew York, Boston, Philadelphia, Baltimore, Charles­
ton, and New Orleans, with the following salaries, viz: At New York, sixteen hundred
dollars per annum ; and at each of the other ports above named, one thousand dollars per
annum ; which said salaries shall be paid each year, quarterly, out of any moneys in the
Treasury not otherwise appropriated ; and it shall be the duty of the said Secretary to give
such instructions to the collectors of the customs in the other collection districts as he may
deem necessary to preventjhe importation of adulterated and spurious drugs and medicines.
S e c . 6. And be it further enacted, That the special examiners to be appointed under
this act shall, before entering on the discharge of their duties, take and subscribe the oath
or affirmation required by the ninth section of the act of the thirtieth of July, eighteen
hundred and forty-six, entitled “ An act reducing the duty on imports, and for other
purposes.”
S e c . 7. A n d be it furth er enacted, That the special examiners authorized to be appoint­
ed by the fifth section of this act shall, if suitably qualified persons can be found, be taken
from the officers now employed in the respective collection districts; and if new appoint­
ments shall be necessary for want of such persons, then, as soon as it can be done consist­
ently with the efficiency of the service, the officers in said districts shall be reduced, so that
the present number of said officers shall not be permanently increased by reason of such
new appointment.
The following circular, from the Secretary of the Treasury, is published in connection
with the act relating to the importation of adulterated drugs and medicines into the Uni­
ted States, as explanatory of that la w :—
T r e a s u r y D e p a r t m e n t , July 8, 1848.
The attention of collectors and other officers of the customs is especially called to the
provisions of the annexed act of Congress, entitled “ An Act to prevent the importation
o f adulterated and spurious drugs and medicines,” approved 26th June, 1848.
Upon entry of any “ medicinal preparations, whether chemical or otherwise, usually
imported with the name of the manufacturer, and the place where prepared, permanently
and legibly affixed to each parcel,” careful inspection and examination must be made by
the United States appraisers to see that the true name of the manufacturer, and also the
place where said articles were prepared, are “ legibly affixed to each parcel by stamp, la­
bel, or otherwise,” as required by the second section of the act. In default of these re­
quisites the collector will immediately report the case with all the facts to the United States
District Attorney, in order that he may institute the necessary legal proceedings to obtain
a decree of condemnation and forfeiture of the articles in pursuance of the act. When a
decree of condemnation and forfeiture, for the causes before stated, takes place, an im m e-,
diate examination of the articles, in the manner indicated in the th ird section of the act,
must be had to ascertain whether all or any of the articles contained in the importation
possess the standard of strength and purity therein required. If any articles do not agree
with these standards they cannot be sold, like other forfeited goods, as it would defeat the
object of the law thus to throw upon the community adulterated and spurious drugs and
medicines. Such portion of the importation as may prove to possess the proper standard
o f strength and purity ma'y be immediately sold, and the proceeds accounted for as in or­
dinary cases of forfeiture. But the adulterated and spurious articles contained in the im­
portation must be destroyed in the manner hereinafter mentioned.
It will be observed, on reference to the third section of the act, that all imported “ drugs,
medicines and medicinal preparations, &c.,” are to be tested, in reference to strength and




Commercial Regulations.

328

purity, by the standards established by the “ United States, Edinburgh, London, French,
and German pharmacopoeias and dispensatories.” It is not conceived to be the intention
of the law that the articles referred to should conform in strength and purity to each and
all of those standards, as such conformity is believed to be impracticable, owing to the va­
riations in those standards. If, therefore, the articles in question be manufactured, pro­
duced, or prepared in England, Scotland, France, or Germany, as the case may be, and
prove to conform, in strength and purity, to the pharmacopoeia and dispensatory of the
country of their origin, said articles become exempt from the penalties of the law. A ll
articles of the kind mentioned, produced, manufactured or prepared in any other country
than those before mentioned, must conform in the qualities stated in the United States
pharmacopoeia dispensatory.
In case of appeal from the report of the special examiner, as provided for in the fourth
section of the act, the collector will exercise proper judgment and discretion in the selec­
tion of an analytical chemist possessing the qualifications and standing required by the
act to make the prescribed analysis, previously taking from the owner or consignee a suf­
ficient deposit of money to defray the expenses of the analysis, and, when completed,
returning to the owner or consignee any excess of money thus deposited.
Upon application to export any adulterated and spurious articles in pursuance of the
fourth section, proper bond and security must be taken for the exportation and production
of proof of landing abroad, as in the case of exportation of goods for benefit of draw­
back, or from public warehouse.
It will be perceived that the fifth section provides for the appointment, at certain desig­
nated principal ports, of special examiners of “ drugs, medicines, chemicals, &c.,” and
makes it the duty o f the Secretary of the Treasury “ to give such instructions to the col­
lectors of the customs in the other collection districts as he may deem necessary to prevent
the importation of adulterated and spurious drugs and medicines.”
W hen, therefore, importations of drugs, medicines, chemicals, &c^ take place at any
port of entry other than those enumerated in the fifth section of the act, the collector o f
the port will appoint, in pursuance of the provisions of the sixteenth section of the act o f
1st March, 1823, to be compensated at a per diem rate of five dollars when employed*
some respectable person deemed by the collector to possess suitable knowledge and quali­
fications to make examination, and report on the value and quality of the articles accord­
ing to the standards prescribed by the act. In case of dissatisfaction, and appeal taken
by the owner or consignee from said examiner's report, the same course in respect to
analysis and the expenses and proceedings connected therewith as required at the princi­
pal ports, will be pursued. In case a suitably qualified person to act as special examiner
cannot be found at the port, or convenient thereto; or, when analysis is called for, ae
properly qualified analytical chemist cannot be conveniently obtained at said port, the col­
lector will immediately so advise the department, in order that a special examiner or ana­
lytical chemist, according to the circumstances, may be detailed from one of the principal;
ports to make the examination or analysis at the port of arrival.
The reports of the special examiners, a3 also the analysis of the analytical chemists*
must be made in writing and signed by them respectively and filed in the custom-house.
Whenever any articles are to be destroyed, as required by the fourth section of the act*
they must be conveyed to some suitable place, and proper means, to be prescribed by the
special examiner or analyst, be used for their safe and effectual destruction, and executed
in the presence of an officer of the customs detailed by the collector for the purpose. B e­
fore destruction of the articles, a particular description or statement of the same must be
prepared, containing the name of the importer or owner, the date of importation, the name
o f the vessel, and the place from whence imported, with the character and quantity of the
articles and the invoice value. The fact of their having been destroyed must be certified
on said statement by the officer detailed for the purpose. These statements must be filed
in the custom-house, and returns prepared therefrom must be rendered quarterly to the'
department.
R. J. W a l k e r ,

Secretaiy of the Treasury,
E A S T E R N BO U N D A R Y O F T E X A S E X T E N D E D .
By an Act of Congress, approved by the President of the United States July 5th, 184&*
the Legislature of the State of Texas “ may extend her Eastern boundary so as to include
within her limits one-half of Sabine Pass, one-half of Sabine Lake, also one-half of the
Sabine River, from its mouth as far North as the thirty-second degree of North latitude.?*




Commercial Regulations.

329

CHANG E OF D U T IE S UPON IM PO RTS IN TO PERU.
W e are indebted to the Department of State, at Washington, for the following impor­
tant information respecting a change in the duties levied upon certain articles imported
into Peru. The information was received a t the Department from S t a n h o p e P r e v o s t ,
Esq., United States Consul at Lima, on the 2d of August, 1848.
In the Appropriation Bill for the years 1848 and 1849, sanctioned by the Congress of
Peru on the 10th of March last, the import duty was varied from 25 per cent to 40 per
cent on paper and on “ Tocuyos;” which term comprehends all kinds of gray or unbleached
cottons, twilled as well as plain. This bill received the executive sanction on the 27th
March, but was not promulgated until the 12th of May, as per decree of that date pub­
lished in the official gazette of the 13th of same month, namely, the “ Peruano,” No. 41,
vol. xix. According to Art. 5th of said decree, this increase of duty is not to take effect
until after the different periods prescribed by Art. 153d of existing tariff, which says, that
in all cases of alterations in rates of duties, the change shall not commence to take effect
until ten months thereafter, on goods or vessels arriving from Europe, Asia, and the Uni­
ted S tates; thus making it the 13th of January, 1849, before the new duty of 40 per cent,
as above, can be exacted by the Peruvian authorities.
The same law, or Appropriation Bill before mentioned, prescribes a reduction of the
duty on leaf tobacco from $>35 per quintal (former duty) to $ 1 5 per quintal; which re­
duction is also to take effect at the same period, namely, 13th of January next, on vessels
from the United States.
M A SSA C H U SE T T S M ACKEREL IN SPECTIO N.
At a meeting of the Massachusetts Inspectors of Fish, called by the General Inspector,
and held at the Tremont Temple, Boston, June 22d, 1848, E. G. Nickerson, of Boston,
Timothy A. Smith, of Gloucester, Joseph J. Proctor, P. S. Atwood, of Wellfleet, Enos
Nickerson and E. Smith, of Provincetown, and William Hale, Jr., of Newburyport, were
chosen a committee to prepare a suitable statement for publication in the Philadelphia,
N ew York, and Boston papers, which wre here subjoin:—
The committee have carefully considered the papers and evidence offered to the said
meeting, and state that, while they fully admit that much negligence and carelessness has
existed in the inspection and packing of mackerel during the past fishing season, they
wish to call the attention of those interested to the fact, that the inspectors labor under
great difficulties and responsibilities, and have been subjected to gross impositions.
This statement is not made as an excuse for the quality of the parcels of mackerel
which have been complained of and in many instances condemned by the general inspector,
but as a candid view of the case, due alike to the inspectors and the dealer and consumer.
Satisfactory evidence has been offered to prove the practice as having existed, during
the past season, in other States—particularly in N ew York—of branding packages of
mackerel with a fictitious Massachusetts brand ; for instance, “ Provincetown, Mass., No.
1 Mackerel. E. Smith, Insp.” Thus, by omitting a letter in the inspector’s name— the
true name being E. S. Smith—the penalties of the law against forgery are evaded, and a
gross fraud practiced upon the inspector and purchaser.
In reference to the complaints against rusty mackerel, the committee would state, that
mackerel often become rusty through want of proper care, after leaving the inspectors’
hands.
The buyer has a duty to perform as well as the inspector. Mackerel are often exposed
to the weather in shipping and loading, during the summer months, a longer time than is
necessary ; they are frequently stored in piles of four to six tiers high, in which case the
pickle will leak out of the lower tier, and the fish, of course, become rusty ; the barrels
are then sometimes refilled with water, to the manifest injury of the fish. The general
inspector has stated that he will not condemn any fish where there is no apparent neglect
in the culling, packing, or the quality of the casks.
The committee have above endeavored to state some instances in which, by the mal­
practices and carelessness of the dealers, the reputations and pockets of the inspectors
have been made to suffer.
The committee distinctly repudiate the construction of the inspection law as read by
some parties, that the best of each fare are No. 1. Mackerel must be of suitable fatness
to constitute No. 1.




330

Commercial Regulations.

The specimens offered to the meeting by the general inspector, as a standard, are con­
sidered sufficiently low, without dissent. The great diversity of quality from year to year,
and at different periods during each year, will always render the duty of the inspector a
difficult one.
The Chatham No. 1, of the last season, were as much above our standard of No. 1, as
the Bay Chaleur were below it.
The committee unite in calling upon the inspectors to abandon the practice heretofore
prevalent in some places, of allowing any of the crew to cull their own fish, and insist
that no fish should be passed except by the inspector and his hired and authorized assistants.
Great care in the selection and coopering of casks is recommended, and buyers are re­
quested to erase the brand after emptying the cask.
The. committee would state that complaints have been settled the past season by some
inspectors, without the intervention of the general inspector, in which case the condemned
fish are liable to go into the market again under the original brands, to the injury of the
character of the said brands; they therefore recommend that no claim for damages be
allowed or paid unless sanctioned by the general inspector.
The committee have noticed sundry publications in New York and Philadelphia papers,
in reference to Massachusetts Inspection. In reply, they have only to say that the Mas­
sachusetts Inspection is the only responsible and reliable brand in the market. Let that
brand be protected from the evils cited above, and the complaints of the past season will
rarely be heard.
M U T U A L IN SU R A N C E CO M PANIES IN N E W YORK.
W e publish below an accurate copy of a law passed by the N ew York Legislature
April 8th, 1848, in relation to the business of Mutual Insurance Companies.
AN AST IN RELATION TO THE BUSINESS OF MUTUAL INSURANCE COMPANIES.

1. Every person becoming a member of any Mutual Insurance Company now in ­
corporated under any law of this State in any of the counties of this State, by effecting
insurahce therein, shall, before he receives his policy, deposit his promissory note fur such
a sum of money as shall be determined by the directors of said company; such part o f
6aid note, not exceeding twenty per cent, as shall be required by the by-laws of the cor­
poration shall be immediately paid, and the remainder of the said deposit note shall be
payable, in whole or in part, as the exigencies of the company shall require for the pay­
ment of losses by fire and the incidental expenses of the company. At the expiration o f
the term of insurance, the said note, or such part of the same as shall remain unpaid,
after receiving thereon from the maker a proportionate share for all losses and expenses
occurring during said term, shall be relinquished by the company to the maker; and it
shall be lawful for the company to loan such portion of the money as may not be imme­
diately wanted for the use of the corporation, provided the same shall be secured by a bond
and a mortgage on unincumbered real estate of double the value of the sum loaned.
S e c . 2. The acts of the Franklin County Mutual Insurance Company, in receiving
more than five per cent upon their deposit notes at the time of insurance and taking o f
their respective notes and risks, are hereby confirmed.
S e c . 3. This act shall take effect immediately.
S ec.

TH E W EIG H T OF SACK S A L T R E G U L A TE D .
The “ People of the State of New York, represented in Senate and Assembly,” passed
on the 5th of April, 1848, the following
ACT TO REGULATE THE WEIGHT OF SACK SALT.

1. The superintendent of the Onondaga Salt Springs shall, by regulation, require
that all salt manufactured at said salt springs, and put up for market in sacks or bags, con­
taining a less quantity than one bushel, shall contain either twenty or twenty-eight pounds r
and he shall require that each sack so put up, shall be legibly marked with the name of
the manufacturer or person who may put up the same for sale or market, together with
the number of pounds of salt contained in such sack ; and all such salt shall be deemed
to be uninspected, and subject to a duty of one cent per bushel, the same as all other un­
inspected salt is subject, until it is legibly marked with the brand of the said superintend­
ent ; and any person who shall remove, or attempt to remove, such uninspected salt from
the reservation, shall be liable to all the penalties to winch they would be liable, in case
they should remove, or attempt to remove, any other uninspected salt from the reservation,
and upon which the duties had not been paid.
S ec .




Commercial Regulations.

331

R EG U L A TIO N S O F Y A C H T NAVIG ATIO N.
The following “ Act to authorize the Secretary of the Treasury to license yachts, and
for other purposes,” passed both houses of Congress at its last session, and was approved
by the President of the United States, August 7th, 1848.
Be it enacted by the Senate and House o f Representatives o f the U nited S tates of
America in Congress assembled, That the Secretary o f the Treasury is hereby author­
ized to cause yachts used and employed exclusively as pleasure vessels, and designed as
models of naval architecture, and now entitled to be enrolled as American vessels, to be
licensed on terms which will authorize them to proceed from port to port in the United
States, without entering or clearing at the custom-house. Such license shall be in such
form as the Secretary of the Treasury may prescribe : Provided, such vessels so enrolled
and licensed shall not be allowed to transport merchandise, or to carry passengers for pay :
A n d provided fu rth er, that the owner of any such vessel, before taking out such license,
shall give a bond, in such form and for such amount as the Secretary of the Treasury shall
prescribe, conditional that the said vessel shall not engage in any unlawful trade, nor in
any way violate the revenue laws of the United States, and shall comply with the laws in
all other respects.
Sec. 2. A n d be i t furth er enacted, That all such vessels shall, in all respects, except as
above, be subject to the laws of the United States, and shall be liable to seizure and for­
feiture for any violation of the provisions of this act.
Sec. 3. A n d be it furth er enacted, That all such licensed yachts shall use a signal of
the form, size, and colors prescribed by the Secretary of the Navy, and the owners thereof
shall at all times permit the naval architects in the employment of the United States to
examine and copy the models of said yachts.

L IQ U ID A T IO N O F CLAIM S A G A IN S T MEXICO.
T r e a s u r y D e p a r t m e n t , August 4, 1848.
In pursuance of the provisions of the act of Congress of the 20th July, 1848, entitled
“ An act for the payment of liquidated claims against Mexico,” notice is hereby given to
the holders of said claims, to “ surrender and deliver up the certificates issued to them re­
spectively from the Treasury Department of the United States, under the provisions of
the act of Congress of the 1st of September, 1841,” so as to enable this Department to
pay said certificates on the 27th of October, 1848, being the day of payment notified under
the law. The certificates should be transmitted, with as little delay as practicable, to the
Fifth Auditor of the Treasury, so that a speedy settlement and adjustment of the claims
may take place.
R. J. W a l k e r ,
Secretary of the Treasury.

BE LG IA N COMMERCIAL REG ULATIO NS.
The Belgian consul at N ew York gives notice that the Belgian government has sus­
pended, until the 1st of January, 1849, the enforcement of the following regulations, ap­
plicable to both Belgian and foreign vessels and their cargoes:—
1. The Consular Visa to charter parties’ Manifests or Bills of Lading is no longer
necessary.
2. Certificates of origin are dispensed with.
3. Both Belgian and foreign vessels and their cargoes, sailing from the United States
for Belgium, are now allowed to call or stop at any intermediate ports, and be admitted
subsequently to Belgian ports upon the most favored footing, provided they can furnish a
certificate o f any Belgian consulate or local custom-house, stating that the cargo has re­
mained unbroken.
T H E COLLECTION D IST R IC T O F BRUNSW ICK .
The Act of Congress destroying the collection district of Brunswick, in the State of
Georgia, in 1844, was repealed at the last session of Congress, and the “ said district ia
re-established, and restored in all respects as it was before the passage of said Act.”




Railroad, Canal, and Steamboat Statistics.

332

RAILROAD, CANAL, AND STEAMBOAT STATISTICS.
T H E R A ILRO ADS OF IRELAND.
T he railways in actual operation on 1st December, 1847, were— The Dublin, Kings­

town, and D alkey; Ulster; Dublin and Drogheda ; Derry and Enniskillen, to Strabane ;
the Great Southern and Western, to Carlow and Roscrea; and the Midland Great W est­
ern, to the Hill of Down.
The Dublin and Kingstown line was opened in December, 1834, to Kingstown, 6 miles,
and thence, in 1844, by atmospheric agency, to Dalkey, I f miles. The business on the
line, (that to Dalkey excepted,) both as to passengers and goods, during the three years
ending the last day of February, 1847, w as:—
1845.

Number of passengers...........................
Fares..........................................................

2,234,433
£ 51,187

1846.

1847.

2,348,613
£ 5 3 ,0 3 7

2,303,910
£50,395

There has been a diminution of income from the Dalkey (atmospheric) branch, which
the Directors conceive has been more than compensated by the increase of traffic on the
original line, caused by this extension. A dividend, at the rate of £ 9 per cent per an­
num, was made at the half year ending in April, 1847, leaving a reserved fund of £9,007.
The following table gives the classification of passengers for each of the last eight years,
ending the last day o f February:—

First class.
30,422
35,558
37,001
68,156
98,076
104,109
141,911
152,389

Years.

1840.
1841.
1842.
1843.
1844.
1845.
1846.
1847.

Second class.
550,414
724,105
840,116
960,937
1,049,243
1,219,556
1,293,524
1,304,798

Third class.
700,105
759,383
754,968
729,788
814,732
910,768
913,178
846,723

Total.

1,280,761
1,519,024
1,632,085
1,758,878
1,962,051
2,234,433
2,348,613
2,303,910

The Ulster line, opened in 1842, proceeds from Belfast, by Lisburn, Moira, and Lurgan,
to Portadown, 25 miles. The traffic has, since the opening, been increasing, and was, for
the years ending—
March,
“
“
“
“

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

Passengers.

Fares.

Goods.

425,864
436,317
604,388
652,071
690,477

£16,021
16,875
19,299
22,644
24,295

£ 5 ,1 2 4
8,269
9,268
8,951
11,471

Total.

£21,149
25,145
21,489
31,795
35,766

The Dublin and Drogheda line, opened 24th May, 1844, proceeds from Dublin, by Malahide and Balbriggan, to Drogheda, 31J miles. A branch line to Howth was opened in
May, 1847. The expenditure of the company, from its commencement to July, 1847,
was £631,258. The traffic on the line has been, from commencement, 24th May, to—
Passengers.

3 lst December, 1844..
Half year endin g 30th June, 1845................
tt
31st December, 1845.......
«(
30th June, 1846...............
ts
31st December, 1846......
((
30th June, 1847................

406,607
245,421
327,435
269,110
315,709
211,695

Fares.

£19,625
14,195
16,554
14,275
16,591
14,980

Goods.

£ 1 ,5 8 4
3,507
3,707
4,187
4,382
5,277

Total.

£21,209
17,702
20,262
18,462
20,973
20,257

The Londonderry and Enniskillen Railway was opened, as far as Strabane, about 15
miles, on 19th April, 1847.
The main line of the Great Southern and Western Railway to Kildare, with the branch
to Carlow, a distance of 55 J miles, was opened in August, 1846. A further portion, from
Kildare to Maryborough, (2 0 f miles,) in June, 1847; and from Maryborough to Roscrea
(16 J miles) in September, 1847. The total length of railway then in actual working was
92J miles. The cost of the line to Carlow was only at the rate of £11,960 per mile,
being for construction, £ 5 6 2 ,5 4 0 ; Parliamentary and other contingent expenses, £113,000;




Railroad , Canal, and Steamboat Statistics.

333

total, .£675,540. This company participated in the recent government loan to Irish rail­
ways to the amount of £500,000. The traffic shows a progressive increase, and yields
now upon an average more than £2,000 weekly. The passenger traffic, since the open­
ing of the liue, has been as follows:—
First class. Second clasd. Third class.

5 months ending 31st Dec., 184fi.
6
“
30th June, 1847

19,1664
27,9254

44,283
60,6924

Total.

Fares.

82,036 145,4854 £17,778 7 4
128,7794 217,3974 24,935 10 3

The Midland Great Western Railway was opened on 28th June, 1847, as far as En­
field, and has since been further opened for traffic to the Hill of Down, a distance of
about 33 miles.
The Belfast and County of Down Railway is rapidly approaching to completion. That
portion which forms the branch to Hollywood was opened for traffic in the month of April,
1848 ; and the main line, as far as Comber and Newtownards, most probably during the
ensuing summer.
R A T E OF RAILRO AD FR E IG H T A N D F A R E S
ON SIXTY-EIGHT EAILKOADS IN THE UNITED STATES.

The American Railroad Journal furnishes the following statement of the rates of fare
and freight on sixty-eight American roads. It will be found exceedingly convenient for
merchants and others.
Eastern Railroad, Boston to Portland, 105 miles— freights on groceries, grain, iron, but­
ter, and dry-goods, $ 3 55 through, or 3.4 cents per m ile; light and bulky articles, $ 5
through, or 4.76 cents per ton per mile ; fpre, $ 3 through, or 2.85 cents per mile.
Boston and Maine Road, Boston to South Berwick, 72 miles—freight, salt, sugar, gro­
ceries, iron, and coal, $ 1 76, or 2.14 per ton per mile ; light and bulky articles, $ 2 88,
or 3.5 per ton per m ile; one horse, $ 3 62 ; two horses, $ 5 4 3 ; one horse carriage, i§2 71;
two horse carriage, $ 3 6 2 ; four horse carriage, $ 5 43 ; fare, $ 1 62 through, or 2.25
per mile.
Lowell Railroad, 26 fhiles—merchandise generally, $ 1 25 per 2,000 lb s.; by cargo
through, $ 1 10; passenger fare, 56 cents, or 2.15 cents per mile.
Nashua and Lowell, 15 miles—freight generally, $ 1 per ton; horses, $ 1 ; one home
coaches, $ 1 ; passenger fare, 40 cents, or 2.66 cents per mile.
Concord Road, Nashua to Concord, 34 miles—freight is divided into 1st and 2d class,
and is charged about 4 cents and 34 cents per ton per mile, or $ 3 and $ 2 50 through to
Boston, 75 miles, and lumber, 75 cents per 1,000, and hard wood, $ 2 75 per cord ; pine
wood, $ 2 25 through; horses, one, $ 3 25 ; two or more at $ 2 50 each ; two horse car­
riage, $ 2 50 ; fare, 80 cents, or 2.35 per mile.
Worcester Railroad, 44 miles— coal, iron, lumber, etc., 4 cents ; heavy merchandise,
such as sugar, salt, butter, etc., about 6 cen ts; groceries and dry-goods, 6 to 8 cents; light
and bulky merchandise, 6 to 10 cents per ton per m ile ; passenger fare, $ 1 25, or 2.8
cents per mile.
Boston and Providence Railroad, 42 miles—coal, iron, grain, and merchandise general­
ly, from 5 to 74 cents per ton per mile ; horses, $ 4 ; carnages, $ 3 to $ 4 ; passenger fare,
$ 1 25, or 2.97 cents per mile.
Stonington Road, from Providence to Stonington, 47J miles—-corn, grain, iron, coal,
sugar, salt, and dry lumber, $ 2 ; butter, dry-goods, and bulky articles, $ 2 80 per to n ;
one horse, $ 3 ; stage-coach, or large carriage, 64 cents per mile ; fare, $ 1 50, or 3.1 cents
per mile.
Boston and N ew York, via Providence and Stonington, 216 miles— freight, measure­
ment goods, 7 cents per cubic foot; by weight, 30 cents per 100 pounds; passenger fare,
$ 5 , or 2.3 per mile.
Boston to N ew York, via Fall River, 223 miles—freight, 7 cents per cubic foot, and 30
cents per 100 pounds; passenger fare, $ 5 , or 2.24 cents per mile.
Fall River Railroad, 53 miles—coal, iron, and grain, $ 2 , and sugar, salt, groceries, but­
ter, and dry-goods, $ 2 50 per ton ; light and bulky articles, charged by measurement,
140 cubic feet to the to n ; passenger fare, $ 1 35, or 2.54 per mile.
Boston and N ew York, via Norwich—freight as on the other through lin es; fare through,
$ 5 — and if a passenger wishes to stop over a day on the way, he can do so by applying
to the agent in New York or Boston.
Norwich and Worcester Road, 60 miles— w e have not got the rates of freight; fare,
$ 1 50, or 2.5 cents per mile.




334

Railroad , Canal, and Steamboat Statistics.

Old Colony Road, Boston to Plymouth, 37 miles—freight generally, 4$ cents per ton
per mile ; light and bulky articles, 140 feet to the ton ; passenger fare, $ 1 , or 2.66 cents
per mile.
Connecticut River Road, from Springfield to Greenfield, 36 miles— freight, iron, coal,
manure, lumber, grain, sugar, butter, and salt, $ 2 ; dry-goods and groceries, $ 2 40 per
ton through ; fare, S I 10, or 3 cents per mile.
Providence and Worcester Road, 43£ miles—freight, groceries, dry-goods,grain, sugar,
salt, butter, iron, coal, manure, and lumber, $ 3 for 2,000 pounds; bulky articles, 15 cents
per 100 pounds through; fares, 1st class, $ 1 25 ; 2d class, 85 cents, or 2.84 and 1.9 cents
per mile.
Boston and Fitchburgh, Boston to Fitchburgh, 50 m iles—freight, all heavy articles, as
butter, salt, sugar, groceries, and dry-goods, through per ton $ 2 , or 4 cents per ton per
m ile; light and bulky, 4 cents per ton of 150 cubic feet per mile ; horses, at 1 ton each,
or 4 cents per mile or $ 2 each ; carriages, one horse, $1 ; two horse, $ 2 , each through ;
fare, through, S I 25, or 2.5 cents per mile.
Western Railroad, Worcester to Albany, 156 miles—freight, sugar, salt, butter, grain,
iron, coal, lumber, and groceries, S 4 per ton of 2,000 pounds, or 2.56 per ton per mile ;
dry-goods and bulky articles, $ 7 per ton of 2,000 pounds through, or 4.44 per ton per
m ile; one horse, $ 1 0 50 ; two horses, $ 1 2 2 5 ; three horses, $ 1 4 , at the risk of the
owners ; one horse carriage through, $ 1 2 23'; two horse carriage, $ 1 5 75; stage-coach,
or omnibus, $ 2 8 , at the risk of the company; fare, through, $ 4 25, or 2.72 cents per
mile. The fare through from Boston to Albany, is, we believe, $ 5 , or 2.5 cents per mile.
N ew Haven and Springfield Railroad, 62 miles—coal, iron, manure, lumber, sugar,
salt, etc., $ 2 60, or 4.2 cents per ton per m ile; groceries and dry-goods, $ 3 50; grain,
$ 5 20 per ton ; passenger fare, $ 1 87, or 3 cents per mile.
Bridgeport, 98 miles—coal, iron, and marble, $ 3 per ton; sugar, salt, butter, $ 3 20;
dry-goods, $ 4 ; grain, 7 cents per bushej, through ; horses and cattle, $ 3 50 each ; two
horse carriage, $ 5 25 ; passenger fare, $ 2 , or 2.04 cents per mile.
New York and Harlem Railroad, 53 miles— coal, $ 2 per ton; iron, sugar, etc., 18
cents per 100 pounds; heavy merchandise, $3 50, and light, $ 4 per ton ; lumber, $ 3 50
per 1,000 feet; horses and cattle, $ 3 50 each; passenger fare, $ l ,o r 1.88 cents per mile.
N ew York and Erie Railroad, New York to Port Jervis, 100 miles— 25 miles by steam­
boat— freight to Otisville, 87 miles, coal, $ 2 20 ; iron, 42 ; heavy articles, such as grain,
sugar, salt, butter, etc., etc., $ 3 50 to $ 4 ; groceries, $ 4 50 ; one horse carriage, $ 3 ;
two horse, $ 4 50. W e are not able now to give the. rates charged upon milk, fru its,
vegetables, etc., on this line, but they are exceedingly low, and morning and evening
trains are run expressly for such freight. W e have not obtained the rates for the current
year, since the road was opened to Port Jervis.
Patterson Road, 16$ miles—freights average about $ 2 50 per ton, delivered by the
company ; fare, 50 cents, or 3 cents per mile.
Morris and Essex Road, 32$ miles—freight, coal, iron, and manure, $ 2 25 per ton;
corn and grain, 8$ cents per bushel; lumber, $ 3 per J,000 fe e t; flour, 25 cents per bar­
rel; fare, $ 1 , or 3 cents per mile.
N ew York to Philadelphia, via N ew Brunswick and Trenton, 90 miles. This line is
owned by three distinct companies, and managed by two. The through fare is $ 4 , or
4.44 cents per mile— while the w ay fare, or Jrom place to place, is only $ 2 25, or 2.5
cents per mile, as follows:— From N ew York to N ew Brunswick, 31 miles, 75 cents;
from thence to South Trenton, 29 miles, 75 cents; and front thence to Philadelphia, 30
miles, 75 cents. This is what the people of those places pay, and what others pay, if they
w a it over, at each place, for the next train ; but if they pay through, from either end, it
is $ 4 . Yet many have, and more w ill, probably, hereafter pay three times, or from place
to place, and go directly through, by the same train, for $ 2 25 to $ 2 75—while the
stranger, or uninitiated, pay $ 4 in the same car—or they m ay do so if they will. This
line carries little through freight.
New York to Philadelphia, via Camden and Amboy, 88 miles. This line is owned by
one company, and is partly by railroad and partly by steamboats— the fare through is $ 3 ,
or 3.4 cents per mile. Freight, legal rates, fixed in their charter, 8 cents per ton per mile,
or 32 cents per 100 pounds, or $ 7 20 per ton, through. The company have, however,
exacted various prices, from 30 cents to $ 1 00 per 100 pounds, or from $ 7 to $ 2 2 40
per ton.
Reading Railroad, 92 miles—coal, $1 50 for 2,000 pounds ; bituminous coal, iron ore,
$ 2 10 ; pig iron and timber, $ 2 50 ; bar iron, flour, grain, fish, and tobacco, $ 2 90; gro­
ceries and hardware, $ 4 25; dry-goods and furniture, $ 5 25 ; one horse, $ 6 , and car­
riage per agreement; passenger fare, $ 3 50, or 3.8 cents per mile.




Railroad, Canal, and Steamboat Statistics.

335

Philadelphia and Columbia Road, 82 miles— the freighting is done by private individu­
als at about 25 cents per 100 pounds ; passenger fare, § 2 88, or 3.5 cents per mile.
Lancaster and Harrisburgh, 36 miles—passenger fires, $1 50, or 4.1 cents per mile.
Harrisburgh and Chambersburgh, 56 miles— coal, iron, manure, $1 50; lumber, com,
grain, $1 78; sugar, salt, butter, groceries, dry-goods, $ 2 per ton through; passenger
fare, $ 2 12, or 3.78 cents per mile.
Philadelphia, Wilmington, and Baltimore, 97 miles—freight, 50 cents per 100 pounds
through; passengers, $ 3 , or 3.1 cents per mile. This road carries very little through
freight.
Baltimore and Susquehannah, 71 miles—coal, $ 1 37J; iron, $1 8 4 ; corn and grain,
$ 2 2 0 ; salt and butter, $ 2 ; groceries, sugar, and dry-goods, $ 2 50 per ton through;
horses, $ 3 75, and four wheeled carriage, $ 3 37 each; passenger fare, $ 2 12, or 3 cents
per mile.
.
Baltimore and Ohio, 179 miles—coal, $ 2 75; iron, in open cars, S 3 50; coffee, 25,
dry-goods, 35 cents per 100 pounds through ; passenger fare, $ 7 , or 3.91 cents per mile.
Baltimore and Washington, 40 miles— coal, iron, and grain, 4 cents per ton per mile;
sugar, butter, salt, dry-good =», light and bulky merchandise, $ 2 30 per ton through ; horse,
or horse and wagon, $ 5 75 ; passenger fare, $ 1 80, or 4.5 cents per mile.
Winchester and Potomac, 32 miles—coal, $ 1 ; iron, $ 1 75 per ton; flour, 18 cents
per barrel; grain, 10£ per 100; sugar, dry-goods, and light bulky articles, 14 cents per
100 pounds; horses, $ 2 50 each; four wheel carriages, $ 4 50 to $ 7 50 ; fare, $ 2 , or
6.25 cents per mile.
Louisa Road, 50 miles—iron, $ 1 66 ; lumber, $ 3 per 1,000 ; com and grain, 14 cents
per 100; sugar, salt, butter, 20 cents, and dry-goods, 22 cents per 100 pounds; horses,
$ 4 66; four wheel carriages, $ 4 50 each ; light articles, $ 4 per ton ; fare, $ 2 50, or 5
cents per mile.
Richmond, Virginia, to Washington city, 133 miles— iron, 2 cents per ton per mile;
sugar, salt, butter, groceries, and dry-goods, £ cent per cwt. per mile ; bulky articles, 8
cents per cubic foot to Fredericksburgh ; horses, 6 cents per mile ; four wheel carriages,
11 cents per mile ; passenger fare, $ 5 50, or 4.13 per mile.
Richmond and Petersburg!), 22£ miles—sugar, salt, butter, ^ cent per 100 pounds per
m ile; groceries and dry-goods, j cent per 100 pounds per mile ; passenger fare, $ 1 , or
4.34 cents per mile.
Petersburg!) to Welden, 63 miles—lumber, $ 5 per 1,000 feet; corn and grain, G$ to 8$
cents per bushel; salt, sugar, and butter, 25 cents per 100 pounds ; horses and carriages,
$ 3 each through; passenger fare, $ 3 , or 4.76 cents per m ile; second class, $ 1 50, or
2.38 cents per mile.
Gaston and Raleigh, 87 miles—lumber, $ 7 per M .; com and grain,. 10 cents per bush­
e l; sugar, salt, and butter, 35 cents; groceries, 55 cents per 100 pounds; light and bulky
articles, 10 cents per cubic foot; horses, $ 4 2 0 ; carriages, $ 7 to $ 8 50 ; passenger fare,
$ 4 , or 4.6 cents per mile.
Wilmington and Welden, 161 £ miles— corn and grain, 10 cents per bushel for 80 miles,
12 cents through; sugar, salt, and butter, 38 cent3, and dry-goods, 80 cents per 100 pounds
through; horses, $ 8 ; carriages, $ 1 0 through; passenger fares, $ 6 50, or 4 cents per
mile.
South Carolina, 135 miles—iron, 25 cents per 100 pounds; corn and grain, 7 cents per
bushel; sugar, salt, butter, 25 cents per 100 pounds ; light bulky merchandise, 8 cents per
cubic foot through ; horses, each, $ 8 ; four wheel carriages, $ 1 0 through ; passenger fare,
1st class, $ 6 75, or 4 97 cents per mile.
Columbia, 68 miles—coal, iron, and manure, 25 cents per 100 pounds ; com and grain, 7
cents per bushel; sugar, salt, and butter, 25 cents ; dry-goods, 35 cents per 100 pounds;
light bulky merchandise, 8 cents per cubic foot through; horses, $ 8 each ; four wheel
carriages, $ 1 0 ; two wheel carnages, $ 6 through ; passenger fare, $ 3 38, or 4.97 cents
per mile.
Georgia, 171 miles—iron, 15 cents per 100; com and grain, 8 cents per bushel; sugar,
salt, and butter, 30 cents, dry-goods, 60 cents per 100 ; light and bulky articles, 10 cents
per cubic foot through; horses, $ 8 ; four wheel carriages, $ 1 0 ; passenger fare, $ 7 , or
4.09 cents per mile.
Western and Atlantic, 100 miles—iron, 15 cents; sugar, salt, and butter, 25 cents;
dry-goods, 40 cents per 100 pounds; grain, 8 cents per bushel; bulky merchandise, 8
cents per cubic foot through ; horses, $ 5 ; two wheel carriages, $ 3 ; four wheel, $ 6 ;
passenger fare, $ 5 , or 5 cents per mile.
Central, 1 9 1 miles— iron, 30 cents; salt, sugar, and butter, 40 cents per 100 pounds;
corn, 12 cents per bushel; light bulky articles, 13 cents per cubic foot through; one horse,




336

Railroad , Canal, and Steamboat Statistics.

$ 1 0 ; four, or more, at $ 5 each ; four wheel carriage, $ 1 0 ; passenger fare, $ 7 , or 3.65
cents per mile.
Macon and Western, 101 miles—iron, sugar, salt, and butter, 25 cents, dry-goods, 44
cents per 100 pounds; grain, 8 cents per bushel; light bulky merchandise, 9 cents per
cubic foot through ; one horse, $ 8 ; four at $ 4 each ; four wheel carriage, $ 8 ; passen­
ger fare, $ 4 , or 3.96 cents per mile.
Montgomery and West Point, 67 miles—barrels whiskey, etc., 60 cents; dry barrels,
55 cents; bulky merchandise, 8 cents per cubic foot; cotton, 95 cents per bale of 500
pounds; passenger fare, $ 3 , or 4.47 cents per mile.
Vieksburgh and Jackson, 46 miles— sugar, coal, iron, and manure, 40 cents per 100
pounds ; salt, 60 cents per sack ; com and grain, 10 cents per bushel; dry-goods, 8 cents
per cubic fo o t; cotton, 87£ cents per bale of 400 pounds; horses and carriages 12 cents
per mile each ; passenger fare, $ 3 , or 6.38 cents per mile.
West Felicianna Road, 24 miles—freight, merchandise, provisions, etc., 50 cents per
100 pounds through ; passenger fare, 75 cents, or 3.1 cents per mile.
Lexington and Ohio, 28 miles—coal, com , and grain, 5 cents per bushel; iron, sugar,
salt, butter, groceries and dry-goods, light and bulky merchandise, hemp, bagging, and
rope, 12£ cents per 100 pounds ; horses, $ 2 each ; carriages, $ 2 to $ 3 each ; passenger
fare, $ 1 25, or 4.46 cents per mile.
Madison and Indianapolis Railroad, 86 miles—coal, and wheat, 9 cents ; com, 8 cents;
oats, 7 cents; flour, 35 cents; pork, lard, and salt, 50 cents per barrel; iron, $ 5 per to n ;
groceries, dry-goods, and light and bulky articles, 35 cents per 100 pounds; specie, $ 1
per 1,000 ; live hogs, 50 cents through; horses, $ 1 50 each, or $ 1 with a passenger;
passenger fare, $ 2 50, or 2.9 per mile.
Ljttle Miami, 84 miles—coal, iron, sugar, salt, butter, groceries, and dry-goods, $ 3 20
per ton ; corn and grain, 7 cents per bushel; light and bulky articles, $ 4 per ton through ;
horses, 4 cents each per mile, carriages the same ; passenger fare, $ 2 , or 2.38 cents per
mile.
Mad River, 102 miles—coal, iron, and manures, $ 5 per ton ; com, 11 cents, wheat,
124 cents per bushel; flour, 45 cents per barrel; sugar, salt, and butter, 32 cents, and
bulky articles, 42 cents per 100 pounds; carriages by weight, and horses by agreement;
passenger fares, $ 3 50, or 3.18 cents per mile.
Mansfield and Sandusky, 56 miles— iron, coal, and manure, $ 1 60 per to n ; com, 6
cents, wheat, 7 cents per bushel; sugar, salt, and butter, $ 2 , dry-goods, $ 2 50, bulky
and light articles, $ 3 per ton through ; horses and carriages each 4 cents per mile ; pas­
senger fares, $ 1 50, or 2.67 cents per mile.
Michigan Central, 146 miles—iron, manure, coal, com, grain, groceries, 39 cents per
100 ; salt, butter, beef, pork, fish, and sugar, $ 1 , flour, 66 cents, whiskey, bfcer, and cider,
$ 1 10 per barrel; corn and grain, 39, wheat, 33 cents per 100 through; carriages, 45
cents per 100 pounds; horses, $ 2 35; hogs and calves,$ 1 64 ; sheep,$ 1 1 0 each; pas­
senger fares, $ 4 40, or 3 cents per mile.
Southern Michigan, 70 miles—manure and iron, 24 cents, sugar and butter, 34 cents
per 100; corn and grain, 11 cents per bushel; flour, 40 cents per barrel; salt, 34 cents
per barrel through; passenger fares, $ 2 , or 2.85 cents per mile.
Albany and Schenectady, 17 miles—iron, coal, and manure, $ 1 per ton; sugar, salt,
groceries, butter, dry-goods, and bulky articles, $ 1 25 per ton ; horses, $ 2 ; carriages, $ 1
to $ 2 each ; passenger fare, 50 cents, or 2.94 cents per mile.
Troy and Schenectady, 20£ miles—rates same as on Albany and Schenectady; pas­
senger fare, 50 cents, or 2.43 cents per mile.
Utica and Schenectady, 78 miles—-prohibited from carrying freight, except when the
canal is closed, and then canal tolls are added to the ordinary freight charges; passenger
fare, $ 3 , or 3.84 cents per mile.
This line, in connection with the other lines from Albany to Buffalo, run a train at 1^
cents a mile for emigrants.
Utica and Syracuse, 53 miles—same as Utica and Schenectady R oad; passenger fare,
$ 2 , or 3.77 cents per mile.
Syracuse and Auburn, 26 miles— coal, iron, and manure, 8 cents, sugar, salt, groceries,
butter, and dry-goods, 10 cents, and bulky merchandise, 20 cents per 100 pounds; horses,
$ 1 ; carriages, § 1 to $ 1 50 each ; passenger fare, $ 1 , or 3.84 cents per mile.
Auburn and Rochester, 77 miles— com and grain, 27 cents, sugar, salt, butter, groce­
ries, and dry-goods, 20 cents, light and bulky articles, 30 cents per 100 pounds; horses, $ 3 ;
carriages, $ 5 to $ 7 , according to size; passenger fare, $ 3 , or 3.89 cents per mile.
Rochester and Attica, 44 miles—coal, iron, and manure, 4 cent per ton ; grain, 1-5
cent per bushel; butter, salt, and sugar, 2-5 cent per 100; groceries and dry-goods, 44




Nautical Intelligence.

337

mills per 100; bulky and light articles, 5 mills—all per m ile; horses and carriages, 6^
cents per mile each; passenger fare, $ 1 56, or 3.54 cents per mile.
Attica and Buffalo, 31 £ miles—corn and grain, 3 cents per bushel; butter and sugar,
12 cents per 100 through ; passenger fare, 94 cents, or 2.98 cents per mile.
Buffalo and Niagara Falls, 22 miles—freight, 10 to 12 cents per 100 pounds ; passen­
ger fare, 75 cents, or 3.4 cents per mile.
Lockport and Niagara Falls, 24 miles—passenger fare, 75 cents, or 3.12 cents per mile.

NAUTICAL IN T E L LIG EN C E .
ST E A M E R S’ LIG H TS—TO P R EV EN T COLLISION.
following notice has been issued by the British Admiralty :—Whereas, under, and
by virtue of, the Act of Parliament, passed in the 10th year of the reign of her present
Majesty, entitled an “ Act for the Regulation of Steam Navigation,” &c., we hereby re­
quire, in pursuance of the said act, that lights shall be exhibited by all British steam ves­
sels, between sunset and sunrise, of such description, and in such manner, as hereinafter
mentioned; that is to say—
When under Weigh— I. Bright white lamp at the foremast head; 2. Green light on the
starboard sid e; 3. Red light on the port side.
When at Anchor— A common bright light.
The following conditions to be observed, viz.:—
1. The mast-head light to be visible at a distance of at least five miles in a clear dark
night, and the lantern to be so constructed as to show a uniform and unbroken light over
an arc of the horizon of twenty points of the compass—viz., from right a-head to two
points abaft the beam on each side of the ship.
2. The colored side lights to be visible at a distance of at least two miles on a clear
dark night, and the lanterns to be so constructed as to show a uniform and unbroken light
over an arc of the horizon of ten points of the compass—viz., from right a-head to two
points abaft the beam on their respective sides.
3. The side lights to be, moreover, fitted with inboard screens, of at least three feet long,
to prevent them from being seen across the bow. The screens to be placed in a fore and
aft line With the inner edge of the side fights.
4. The lantern used when at anchor to be so constructed as to show a good light all
round the horizon.
It is understood to be the intention of the Lords of the Admiralty to issue regulations
in accordance with the foregoing announcement, and to have them published in the Lon­
don Gazette, so that they may be in force from the 21st day of July.
Diagrams illustrative of the above plan, and instructions as to the proper mode of fitting
file fights, will be furnished to parties applying for them.
T he

L IG H T -H O U SE ON LAK E SUPERIOR.
By an Act of Congress, approved by the President of the United States July 15lh,
1848, the Secretary of the Treasury is authorized “ (if he deem it expedient) to change
the site of the Light-house, authorized by the Act of March 3d, 1847, to be constructed
at Copper Harbor, Fort Wilkins, Lake Superior, in the State of Michigan, to a more
suitable place on said L ak e: P rovided, Such change shall not increase the cost of con­
struction so as to exceed the appropriation made for such purpose by said Act.”
L A N T E R N O N CA PE ESPICHEL.
28th July, 1848.—Notice has been given of an intention to substitute the Lan­
tern on Cape Espichel by another of iron, whose fight may be seen from all sides of the
horizon. From the 1st of September next until the work is completed, there will be shown
a temporary light by lanterns, whose brilliancy will, if possible, be equal to the one nowexisting.
L is b o n ,

S w in e m u n d e , 24th July, 1848.— By a decree of the Royal Government, vessels ar­
riving at this port from St. Petersburgh are subjected to a quarantine of seven days, from
which, however, the days of voyage are to be deducted.

VOL. X IX .----NO. I I I .




22

Journal o f Mining and Manufactures.

338

JOURNAL OF MINING AND MANUFACTURES.
ST A T IS T IC S OF M INES A N D M INING IN IR E L A N D .
The principal minerals are coal, iron, copper, lead, and gold. The coal fields are sev­
en in number— one in Leinster, occupying large portions of Kilkenny and Queen’s coun­
ties, with a small part of Carlow; two in Munster; one in Tipperary, bordering on that
of Kilkenny, the other spread over large portions of Clare, Limerick, Cork, and Kerry
counties, being the most extensive development of the coal strata in the British empire.
All these beds lie south of Dublin, and yield only stone coal, or anthracite, which bums
without flame. The remaining fields, which lie to the north of Dublin, are formed of
bituminous or flaming coal. Of the northern coal fields, three are in Ulster—one at Coal
Island, near Dungannon; the second in the northern extremity of Antrim county ; and
the third in Monaghan. They are all small: the narrowness of the seams of coal renders
the last named almost valueless. The Connaught coal field extends over a space of 16
miles in its greatest length and breadth, in Roscommon, Sligo, Leitrim, and Cavan coun­
ties. The total area is 140,000 acres. Besides the stores of fuel applicable to manufac­
turing and domestic uses which lie imbedded in the coal fields, Ireland enjoys two others,
lignite and turf or peat. Lignite, an intermediate species of fuel between wood and
coal, is found in dense strata encompassing the southern half of Lough Neagh. The
total area of turf bog is estimated at 2,830,000 acres, nearly one-seventh of the surface
of the island. Of this quantity, 1,576,000 acres are flat bog, spread over the central por­
tions of the great limestone plain; the remaining 1,254,000 are mountain bog, chiefly
scattered over the hilly districts near the coast.
Iron ore is found in all the localities of coal, and was largely manufactured while tim­
ber for fuel was abundant. Latterly, the efforts to carry on the manufacture have been
not only unprofitable but ruinous. Sir R. K an e , in his valuable work on the Industrial
Resources of Ireland, gives the following table of the comparative contents, in metallic
iron, of the native ores, and of the English, Scotch, and Welsh. One hundred parts of
ore give of metal an average at—
Natural state. Roasted.

Natural state. Roasted.

31.4
44.7
Arigna....................
40.0
58.2 W elsh.........................
31.6
45.8
Kilkenny...... .............
38.7
55.3 Glasgow.....................
Staffordshire..............
28.0
40.4
There is, therefore, no doubt that the Leinster and Connaught ores are equal, and even
in average superior, to those generally employed in Great Britain. The iron stone of
Kilkenny is little inferior to that of Arigna, and the ores of Lough Allen possess a rich­
ness in iron only equalled by the black-band ironstone of Glasgow. Sir R. K a n e shows
how, by the judicious application of turf fuel, iron of the best quality can be manufactured
in this country as cheaply as in England.
The copper mines are distributed throughout the clay-slate districts in a great number
of localities. The principal are the Ballymurtagh, Conoree, Cronebane and Tigroney, and
Ballygahan mines, in Wicklow county; the Knockmahon, Kilduane, Bonmahon, and
Balinasisla, in the Waterford district; the mines of Allihies or Berehaven, Audley, and
Cosheen and Skull, in the south-western district. Indications of this metal have been
discovered in several other parts. The amount and value of ore from each of the three
principal localities exported to Swansea to be smelted, at three periods, was—
1816.

Tons.

1840.

Value.

Tons.

1843.

Value.

Tons.

Value.

W icklow.......................
11,813
£55,819
6,647 £21,442
3,227 £12,918
Waterford.....................
3,588
33,166
7,875
63,087
9,101
62,956
6,418
74,880
4,808
40,981
4,446
36,348
South-west....................
The diminution in quantity and value of the produce of the Wicklow mines, as stated
in the preceding table, is only apparent. The amounts therein are confined to the sales
at Swansea, whither the whole of the ore was at first sent, but the copper is now exten­
sively smelted at Liverpool, and much of the inferior ore is exported to chemical manu­
factories in other places, where the sulphur as well as the copper is economized. In the
Ballymurtagh mine about .£12,000 is annually paid in wages to about 700 persons. The
total number of persons deriving employment from the mineral industry of the Ovoca
district is about 2,000. The true produce of the district may be judged of by the follow­
ing statement of the ores raised and sold from the Ballymurtagh mine in four years:—




J o u r n a l o f M in in g a n d M a n u fa c tu r e s .

339

Produce.
Sold at
Copper ore. Iron pyrites. Gross value. Swansea. Other ports.

Years.

Tons.

1840.............
1841............. ...............
1843............. ...............
1843............. ...............

4,617
7,549
6,555

Tons.
5,334
18,575
9,023
8,376

£29,596
34,493
29,113
24,238

........
........
£1,256
5,897

Paid in
wages.

£29,596
34,473
27,857
18,341

£9,927
16,312
15,371
10,985

The total quantity and value of copper ore from Ireland, sold in Swansea, were, in—
Tons.

1836..............
1840............. ...........
1843.............

19^580

Value.

£163,865 1844.........................
127,911 1845.........................
117,625 1846............. ...........

Tons.

Value.

18,597
18,430
17,471

£77,622
117,122
106,078

OO
in

Lead is more extensively diffused through Ireland than copper. The granitic district
of Wicklow contains numerous veins; the principal are those of Glendalough, Glenmalure,
Glendasane or Luganure, and Ballycorus. The clay-slate districts also yield numerous
indications o f this metal, but few of the mines have proved profitable. Those still work­
ed are at Barristwon, in Wexford county ; Clonligg, near Newtownards, in Down county;
Kenmare, in Kerry county ; Kilbricken, in Clare county; Ballyhickey, in the same coun­
ty. A vein at Clontarf, near Dublin, was worked until the mine was filled with water by
the ingress of the sea. At Ballycorus, where the lead ores from the mines of the Mining
Company of Ireland are smelted, the quantities of ore worked up in 1843 were, from Lu­
ganure, 547J tons, and from Caime, 270 tons, which delivered 10,288 pigs of lead, weigh­
ing 588$ tons, equivalent to 72 per cen t The proportions of silver to a ton of lead are
generally found to be—from the mine of Luganure, 8 ounces; Caime, 12 ounces; Bally­
hickey, 15 ounces ; Kilbricken, 120 ounces; Tollyratty, near Strangford, 10 ounces. The
average of silver extracted from the lead ore raised by the Mining Company of Ireland
in 1843, was 7$ ounces to the ton of lead; the total quantity, 4,261 ounces; value, £1,158.
Towards the close of the last century, native gold was found in the bed of the streams of
Croghan Kinshela Mountain. It was discovered by the peasants, who collected quantities
to the value of, at least, £10,000, in pieces from 22 ounces to minute grains, before their
proceedings were public. The district was afterwards taken in charge, and the workings
carried on by government agents; but, as the whole amount of two years’ workings, in
their hands, was but 945 ounces, sold at £3,675, while the expenses of the establishment
were considerably greater, the property was given up, and, though leased to a London
company, finally abandoned. Native silver was found in a bed of iron ochre in Cronebane, but the deposit has been long since exhausted. It has also been lately discovered
associated with the lead ore at Ballycorus. The economy of working this silver is, as yet,
undecided. Tin stone has been found in the auriferous soil of Wicklow, but no veins or
working deposits have been discovered. Other minerals, useful in manufactures and the
arts, and found in quantities in various parts of the country, are manganese, antimony,
zinc, nickel, tin, iron pyrites, alum, clays of various kinds, building stone, marble, flags,
and roofing slates. The localities of these, and the means of their profitable application
towards the promotion of native industry, are fully developed in Sir R. K a n e ’s valuable
work, already quoted.
The following table gives the quantities of lead ore raised, and of lead smelted, the pro­
duce of Irish mines in 1845 and 1846:—

Mines.

County.

Kilbricken.................. .
Ballyhickey.......................
Newtownards...................
Down.............................
Clonligg............................
Lim erick....................... i. Limerick............................
Monaghan..................... . Bond and Newry.............
I Glenmalure......................
W icklow ....................... .. < Sundry mines................... .
( Luganure..........................
Waterford...................... ,. Barristwon.........................
Wexford......................... .. Caime................................

Clare................................




5
(
)
(

Total.

1846.

Lead ore raised.

1845.

1846.

Lead smelted.

Tons.

Tons.

Tons.

Tons.

119
433

38
32
211
65

66
83
280
65
8J
13
270
56

25
22
137
42
29
250
144

14

162

855$

811

12
21
367

218

44
314
240
405
250
42

1,944

1,641

...

Journal o f Mining and Manufactures.

340

SING ULAR DISCOVERY IN TH E COPPER REGION.
A correspondent of the Buffalo Express, writing under date of June 14th, 1848, from
Ontonagon, Loire Superior, says:—
Mr. Knapp, of the Vulcan Mining Company, has lately made some very singular dis­
coveries here in working one of the veins which he lately found. He worked into an old
cave which had been excavated centuries ago. This led them to look for other works of
the same sort, and they have found a number of sinks in the earth which they hove traced
a long distance. By digging into those sinks they find them to have been made by the
hand of man. It appears that the ancient miners went on a different principle from what
they do at the present time. The greatest depth yet found in these holes is thirty feet—
after getting down a certain depth they drifted along the vein making an open cut. These
cuts have been filled nearly to a level by the accumulation of soil, and we find trees of the
largest growth standing in this gutter; and also find that trees of a very large growth have
grown up and died, and decayed many years since—in the same places there are now
standing trees of over three hundred years’ growth. Last week they dug down into a
new place, and about twelve feet below the surface found a mass of copper that will weigh
from eight to ten tons. This mass was buried in ashes, and it appears they could not han­
dle it, and had no means of cutting it, and probably built a fire to melt or separate the
rock from it, which might be done by heating, and then dashing on cold water. This
piece of copper is as pure and clean as a new cent—the upper surface has been pounded
clear and smooth. It appears that this mass of copper was taken from the bottom of a
shaft, at the depth of about thirty feet. In sinking this shaft from where the mass now
lies, they followed the course of the vein, which pitches considerably; this enabled them
to raise it as far as the hole came up with a slant. At the bottom of the slant they found
skids of black oak, from eight to twelve inches in diameter—these sticks were charred
through, as if burnt. They found large wooden wedges in the same situation. In this
shaft they found a miner’s gad, and a small chisel made of copper. I do not know whether
these copper tools are tempered or not, but their make displays good workmanship. They
have taken out more than a ton of cobble-stones, which have been used as mallets. These
stones were nearly round, with a score cut around the centre, and look as if thi3 score was
cut for the purpose of putting a withe round for a handle. The Chippewa Indians all say
that this work was never done by Indians. This discovery will lead to a new method of
finding veins in this country, and may be of great benefit to some. I suppose they will
keep finding new wonders for some time yet, as it is but a short time since they first found
the old mine. There is copper here in abundance, and I think people will begin to dig it
in a few years. Mr. Knapp has found considerable silver during the past winter.
A N E W CLASP COUPLING JOINT.
W e see by an advertisement in the papers that Messrs. West & Thompson, of New
York, have obtained a patent for a new clasp coupling joint for joining steam and other
pipes. The United States Board of Naval Engineers have examined this important in ­
vention by the order of the Secretary of the Navy, and have given their opinion decidedly
in its favor, recommending the Government to adopt it immediately.
The following are given as some of the many advantages of this clasp over all others
heretofore used:—
1st. The labor and expense of braising or soldering flanches on pipes is obviated and
not required.
2d. There are no holes to drill in the flanches, washers to use, or grummets to put
around the bolts.
3d. It only requires two, or at most three bolts for the largest sized joint, even if they
were seven feet in diameter.
4th. The joints are tighter and stronger, as the pressure is exerted at the neck of the
flanch, in close proximity to the periphery of the pipe.
5th. The cost of packing is one half less, and cannot blow out, as it is confined to the
grooved segmental clasp.
6th. Joints of any size may be taken apart, and put together in from five to ten
minutes.
7th. They are more economical in space, weight, cost, and repairs, and are applicable
to cylinder heads, bonnets, steam-chests, air pumps, condensers, man-hole plates for boil­
ers, stop cocks, nozzles, common and rotary pumps, and all other purposes where joints are
required.




Journal o f Mining and Manufactures.

341

BROADCLOTH FACTORIES IN AM ERICA.
W e often hear the question asked why there are not more manufactories of broadcloths
in this country. “ The great reason is,” says the Albany Knickerbocker, “ that it is one
of the most risky businesses in the world; raising handsome girls and going security not
excepted. There are some twenty to five and twenty different and distinct manipulations
combined in the manufacture of a yard of broadcloth. Most of these, in foreign countries,
are distinct and separate trades, to which usually the life of the artist is devoted;—in se­
lecting, sorting, and scouring the w ool; in dyeing it after it is picked, and again, perhaps,
after it is w oven; in carding, roving, spinning, warding and weaving, all of which must
be done to get the wool into what is called flannel, and then the minor operations of scour­
ing and burling it, and the more important ones of fulling, tesseling, tentering, shearing,
steaming, and, after various other processes, of dressing, including listing, lettering, &c.
If all of these are successful, the manufacturer is at length in possession of a cloth. If
he is enabled to do this at all, he considers himself fortunate, and entitled, perhaps, to some
credit if .not some emolument for the risk run, and the time and talent devoted to this art.
But he must not expect to escape censure. Thousands have found, to their cost, that it
requires almost a magician’s art to prevent loss. Not only must every one engaged in the
above manipulations know how to do his part (if he has not to do the whole) well, but
he must watch and perform (always, and all the way through) the operation of every
piece of cloth with surgical precision, or ruin will follow, and disgrace overwhelm him.
His fabric has at last to pass the ordeal of a critical and often a censorious public, who are
perhaps ‘ ignorant of what they are most assured,’ and condemn flippantly those who are
fully entitled to the respect of their countrymen.”
MOROCCO DRESSING IN BROOKLYN,
The Gazette says:—“ There was a time, and that not very long past, when French
morocco, so indispensable as well as becoming for ladies’ wear, could only be had by im­
portation. Now, however,—thanks to native enterprise—if not veritable French morocco,
that at least which is dressed after the same fashion, and with all the beauty and finish of
the best foreign article, is furnished abundantly at our own door. An establishment of
this kind, and the largest in our vicinity, if not in the country, is that of Messrs. Cham­
bers & Burbank, at Gowanus, (Brooklyn.) The manufacture last year amounted to
$60,000, and will be considerably increased the present. Forty-five hands are constantly
employed in the various processes of preparing the skins— dressing, tanning, coloring,
polishing, &c., all of which are done under one roof, or in one building closely connected.
It is from goat skins the best morocco is made, and such only are used in this establish­
ment. These skins are all imported, as are also most of the articles employed in tanning
and coloring. The native sumach is used to some extent in tanning, but it is said to pos­
sess much less strength and efficacy than that which is obtained from abroad. It might
doubtless, however, be improved in its quality by cultivation ; and the inquiry would, per­
haps, be both important and profitable, whether there are other foreign materials used in
this and our manufactories generally, which might be advantageously superceded by those
o f our own growth or production.
M ANUFACTURE OF AM ERICAN PARCH M ENTS.
W e have b£en in the habit of importing nearly all our parchments from England. But
an establishment has been recently erected in this city, by Mrs. S. Maverick and Mr. Rey­
nolds, which supplies the Land Office o f the United States with a very superior article of
American manufacture. This bureau receives at the rate of 60,000 or 70,000 parchments
per annum, and the land patents of the United States will be made out upon them. They
are printed in Wank at the same establishment, and these blanks are thereafter filled up at
Washington. The superintendents of this new manufactory have not, however, been
able to obtain the necessary number of sheepskins at home, and they have been compelled
to import the most of them from abroad.
BROOMS M A N U FA C T U R ED FROM W H IT E ASH.
A mechanic at the Ramapo river, N. J., has invented a machine for making brooms,
which, according to the Journal of Commerce, threatens to exterminate broom com. It
takes a billet of white ash, and in a trice cuts it fine like the Manilla grass, as used for
brushes. The brooms can be made for two cents each, and are said to work quite as well
sts com brooms, and to be much more enduring.




Journal o f Mining ana Manufactures.

342

SONG OF THE GOLD-WORKERS
BY W . H .

Toil, brothers, toil;
Let loud our laughter ring,
For the glittering show of the gold we boil
May deck some gaudy king.
Wrap the flame closer round ;
Let our work be merrily done,
For in it joy and grief are found;
Grim death and life are in its run.
Toil, brothers, toil;
Let our song be merry to day,
For the morrow our brightest hopes may foil,
And the scene of our joys pass away.
Four the moulten metal out;
Some for avarice and pride;
Be justice ever so devout,
She cannot find the faults ’twill hide.
Toil, brothers, toil;
We toil for the weal of the world;
Our work shall nations in strife embroil,
Where peace has her banner unfurled.

W hat though our hands be scar’d ;
W hat though our faces be grim’d—
Here’s a song for the schemes we’ve mar’d ,
Here’s a laugh for the hopes we’ve dim’d.
Toil, brothers, to il;
Our work is the buyer of fame;
She dreams of tbe high-reaching ambition we spoil.
And governs the wreath it would claim,
Be our song right merry and loud;
Be our care in our mirth forgot;
Here’s a shout for the rod that’s bow’d
W hat the w ill of the world could not.
Toil, brothers, toil;
W e all must toil for our bread ;
By the “ sweat of our brow,” from the yielding soil.
Or the plots and plans of the head.
Be our song unmingled with care;
Let’s work while the metal be hot,
For the miser must have his full share,
And honesty claims but his jot.

IM PROVEM ENTS IN PAPER M AKING.
The readiness and facility with which the manufacture of paper is now carried on is
really astonishing. The Journal of Commerce remarks: “ W e were informed a few dayssince, by a large paper dealer in N ew York, that it was not uncommon for him to have
in his warehouse, and sell, at 9 o’clock in the morning, paper which was in ra g s a hun­
dred and fifty miles from New York at 9 o’clock of the previous morning. A better il­
lustration of the power of steam could not be given, or of the progress of the age. The
rags are placed in the duster, thence conveyed to the troughs or vats, where (in some kinds
of paper) the sizing is mixed with the pulp, and from these vats the paper passes over
heated rollers, and finally between two immensely heavy iron rollers, which give it the
glazed surface, and it is then cut, folded, packed, and sent to the railroad, all in the course
of a few hours. The Telegraph enables N ew York merchants to order paper in Massa­
chusetts at any moment, and receive the returns, manufactured, and even ruled, by almost
the next steamer.
IM PO RTANT IM PRO VEM ENT IN T H E CLOCK.
The most improved clocks now in use only indicate (in point of time) the hour, the
minute, the second, and the day of the month, which last indication requires to be attend­
ed to and altered at the end of every month of less than thirty-one days. An invention
has just been made in England, which will indicate the day of the week, the month, theday of the month, and the year, thus:— “ Monday, May 22, 1848,” and at twelve o’clock
at night the clock will alter the indication all at once, and exhibit “ Tuesday, May 2 3 ,
1848,” and so on, day by day, for hundreds of years. All the attention required is to keep
the clock in motion by winding it up regularly as usual. Whether the month has thirty
or thirty-one days, or, as in February, twenty-eight, and in leap-year twenty-nine days,
the indication will be found to be always correct. This newly-invented piece of machine­
ry is at present contained in a small box, which may be attached to any ordinary dock.
IM PRO VEM ENT IN T H E N A IL M A N U FACTURE.
A machine has been recently put in operation by the British and Foreign Nail Com­
pany, London, which is highly spoken of by the English journals. The nails are said to
be of a first class description, possessing all the qualities of the finest' hammered nails,
though produced at an expense which will enable them to be sold at a lower price than ispaid for the most common cut-nails. It seems that the whole nail, head, body, and point,
is made at the same time, and simply by one operation of the machine. The estimates,
which are apparently prepared with great care, and founded upon the present prices o f
iron and nails, show a return of more than 40 per cent.




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343

MERCANTILE MISCELLANIES.
JEALO USY O F TRADE.
says the philosophic Hume, is more usual among States which have made
some advances in commerce, than to look on the progress of their neighbors with a sus­
picious eye—to consider all trading States as their rivals, and to suppose that it is impos­
sible for any of them to flourish but at their expense.
It is now a hundred years since this observation was made in the face of prejudices al­
most universal; for Hume was far in advance of his age, in many of his opinions in po­
litical economy. Yet, notwithstanding the light which the experience of a century has
been shedding on subjects of this nature, much of the same old prejudice remains in force
at this day— not a few taking it for granted that their own country must somehow suffer
from the prosperity of others, and that the misfortunes of other countries with which we
are in communication afford us the best, if not the only chance of commercial advantage.
The influence of this “ narrow and malignant opinion,” as the author referred to justly
calls it, has been felt in this country ever since we became a nation, in keeping alive a
foolish jealousy of England. W e have learned to consider ourselves as her rival; and
from ardent rivalry springs naturally a degree of unfriendliness, predisposing us to political
hostility, and preparing us to seek for causes of complaint and quarrel on the slightest
pretexts. Of coarse, those who imagine that this country would be much more prosper­
ous if England were out of the way, or who suppose our advance in commercial greatness
would be more rapid if England should decline, such thinkers, we say, will conclude that
England is governed by similar views o f us—that she is jealous of and hostile to our
growth in wealth, power, and greatness, and would rejoice in our fall.
With exact propriety is the opinion we speak of pronounced malignant, for its direct
tendency is to cause enmity to spring up between nations whose interests are best pro­
moted by the prosperity of both ; for we deny utterly that we are injured by the prosperity
of England or any other nation. We affirm, on the contrary, that the prosperity of any
one nation tends to the advantage of every other nation in communication with her. W e
maintain that commerce, unless tied up by unwise legislation, is constantly employed in
distributing and equalizing advantages among trading nations, causing the discoveries, the
improvements, the riches of one, to result in the benefit of all. So far from being a le­
gitimate cause of jealousy is the prosperity of England, for example, it is a reason for our
rejoicing. The more her manufactures flourish, the more she will want our raw material,
and the better she will be able to pay a fair price ; more of our breadstuff will be called
for by her busy workmen; and greater will be her stock of fabrics from which we may
replenish our markets. Whatever improvements she may introduce into manufactures,
benefits us by affording us better or cheaper fabrics; or we may imitate those improve­
ments at home, as we have often done heretofore. In short, the whole theory of England,
as of every trading nation, is to seek its own advantage in making it clearly for the bene­
fit of others to trade with it.
It would seem to be one of the most obvious of truths, that, in the case of parties trad­
ing with each other, whether individuals or communities, it is first of all desirable that
both should be prosperous. It is not for one’s individual interest that the person he trans­
acts business with should be weak or bankrupt. The more sound and strong he is, the
safer and better it is to trade with him. And so it is between nations. It is true that the
temporary misfortunes of other nations may yield us temporary advantages, as, for in­
stance, the late scarcity in England which enriched our farmers. But, let that misfortune
occur season after season for a length of time, and we should inevitably become involved
in its evil consequences. England would soon become too poor to be any longer a profit­
able or safe customer, and we should lose our now profitable trade with her.
W e are well aware, as already intimated, that, in uttering opinions like the above, we
Oppose ourselves to a very common, a very strong, and, we may add, a very unreasoning
prejudice of our own times and country— a prejudice which, we are sorry to say, is some­
times encouraged instead of rebuked, by journals which ought to know and do better. But
the time must come when all will agree that our views of the subject are the decisions of
common sense and universal experience, to say nothing of the religion which inculcates a
patriotism that is not circumscribed by geographical boundaries, or the different races of
men.
N o t h in g ,




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344

EFFE C TS OF T H E COTTON CULTURE A N D T R A D E .
A writer in the Charleston Mercury thus introduces the subjoined statistics of the ear­
liest imports of American cotton into Great Britain :—
Sixty years ago, American cotton formed no part of tli£ wealth of nations or individu­
als ; now its value can scarcely be appreciated. Sixty-three years ago the first bale of cot­
ton was landed in Liverpool, and was worth some eighty to one hundred dollars in its raw
state, and when manufactured it was probably increased in value to one thousand ! But
how stands the matter now? Great Britain will receive some twelve hundred thousand
bales of cotton from the United. States this year, worth some thirty-six millions of dollars ;
add to this the value which British labor gives, which is upon an average about sixteen
times the value of the raw material, and we find the cotton of the South is worth to our
English brethren about five hundred and sixty millions of dollars for this year. And how
stands the matter with our Northern brethren ? They will use about 400,000 bales this
year, worth say $ 2 5 a bale to them, or $10,000,000 ; add the value of their laborr say
eight times that of the raw material, and the South by this article is of eighty millions ad­
vantage to them. Now for a moment compute the whole value of the crop to the industry
of the world ; value of 2,000,000 bales at $ 2 5 , $50,000,000; add as an average value
gained by the labor upon its manufacture fifteen times the amount, and we have the sum
of seven hundred and fifty millions as an approximation to the direct value of cotton in the
prosperity of the world. Now look back sixty years, and mark the contrast. W e have
before us an extract from Gore’s Advertiser, published in Liverpool, which has been fur­
nished us by Richard Teasdale, Esq., of our city. By this it will be perceived that this
gentleman’s father, one of the firm of John & Isaac Teasdale & Co. of Liverpool, received
the first bale of cotton ever exported from the United States, and that the whole exports
of the year 1785 were not as much in cotton as is now drawn for samples in one week in
Charleston.
AN ACCOUNT OF THE IMPORT OF THE FIRST COTTON WOOL BROUGHT TO THE PORT OF LIVERPOOL,
THE GROWTH OF THE UNITED STATES OF AMERICA.

1785.
— January 20* Diana, from Charleston, to J. & I. Teasdale & Co., 1 bag. Feb­
ruary 17, Tonyn, N ew York, James Kenyon, 1. July 21, Grange, Philadelphia, W .R a thbne, Jr., 3. November 17, Friendship, Philadelphia, J. & I. Teasdale & Co., 9—Total,
14 bags.
1786.
— May 4 , Thomas, from Charleston, Peter Marrow, 2. June 1, Juno, Charleston*
J. & I. Teasdale & Co., 4— Total, 6 bags.
1787.
—April 5, John, from Philadelphia, John Jackson, 6. June 7, Irish Volunteer,
Charleston, Jas. Hargreaves, 1. June 14, Wilson, N ew York, N. P. Ashfield, 9. June
28, Grange, Philadelphia,, Jas. Burrow, 6 ; Jas. Appleton, 2 ; Peel, Yates &, Co., 1. Au­
gust 2, Henderson, Charleston, J. & I. Teasdale & Co., 40. December 13, John, Phila­
delphia, George Goring, 37, order, 7—Total, 109 bags.
1788.
— January 3, M ersy, from Charleston, Peter Marrow, 1. Granger Philadelphia,
George Goring, 5* January 31, Sally, New York, Rathbone & Benson, 4. June 26*
John, New York, Samuel Green, 30. July 3, H arriet, New York, Backhouse & Lowe*62 ; Dickson & Pemberton, 60 ; N . P. Ashfield, 27 ; Peel,-Yates & Co., 4 ; Rathbone &
Co., 3 ; S. Newal, 1 ; order, 16. July 5, Grange, Philadelphia, James Ansdeil, 68. Folly * ,
Charleston, George Goring, 42 ; J. & I. Teasdale & Co., 26. November 20, Clio,
Charleston, J. Douglas, 9 ; W illiam , Baltimore* Warbrick & Holt, 31—Total, 38&
bags.
1789.
—January 8, Grange, from Philadelphia, W. Wallace, 4 ; Jas. Ansdeil, 6. Feb­
ruary, 5, Manchester, Charleston, John Teasdale & Co., 7; John Wright, 1. February*
29, Aurora, N ew York, Rathbone & Benson, 165 ; Peel, Yates & Co., 1 ; Backhouse &
Lowe, 7 ; order, 158. May 21, Alexander, Virginia, Thomas Moss, 4. July 2, L evan ty
Philadelphia, E. & R. Bent, 7; John Jackson, 25. July 9, Grange, Philadelphia, John
Jackson, 17. July 23, Manchester, Charleston, J. Coulbum, 6. October 1, L yd ia , N ew
York, James Kenyon, 10; Robert Abbott-,16; J. R. Freme, 2. December 10, Spring
Vale, Maryland, Kensington & Co., 71; Rathbone & Co., 30. December 24, Grange,
Philadelphia, Golightly & Co., 2 ; James Ansdeil, 25 ; S. Brown, 4 ; Samuel Greg & Co.*
43 ; C. Wetherhead, 94 ; J. Jackson, 43; J. Micklethwaite, 100— Total, 812 bags.
1790.
— January, L a d y Penrhyn, from Philadelphia, E . & R. Bent, 58. February 4*
P olly, Charleston, John Teasdale & Co., 12; William Coulbourne, 7. July 29, M aryt
Georgia, Andrew Aikin, 2 ; Polly, Charleston, John Teasdale & Co., 2— Total, 81.
It will thus be perceived that the total import of cotton into Liverpool, during the six
years, from 1785 to 1790 inclusive, was 1411 bags.




Mercantile Miscellanies.

345

A M ERICAN PROVISIONS IN EN G LAND.
W e copy the following statement of the receipt of American provisions at Liverpool
from Wilmer and Smith’s Tim es of July 15th, 1848:—
The following extensive supplies of provisions have just taken place from the United
States of America, in the docks of the metropolis, in addition to the large arrivals of the
kinds within these few days at the port of Liverpool. The packet ship Northumberland,
from New York, has brought 470 packages of lard, 112 of general provisions, 758 of beef,
148 of pork, and 546 of bacon; the Franklin, of N ew Orleans, 2 ,1 2 4 casks of pork, 464
of lard, 36 of bacon, and other articles; the packet ship Independence, from New York,
229 packages of pork, 494 of beef, 224 of bacon, 841 of lard, and 148 casks, and 128,867
lbs. weight in bulk of oil cake for cattle feeding purposes; the Aconite, from Philadelphia,
300 boxes and 100 tierces of bacon, 114 barrels, 101 tierces, and 51 hogsheads of pork,
and 150 barrels and 304 kegs of lard ; the Inca, from Baltimore, 1,686 packages of pork,
490 o f bacon, 106 of lard,.and other articles; the Horne, from Baltimore, 895 packages
of pork, 51 of beef, 648 of bacon, 390 of lard, and several of hams and other articles;
the Glenmore, from Philadelphia, 766 packages of pork, 746 of bacon, 799 of lard, 135
-of beef, 36 of hams, and 235 of oil cake ; and the packet ship Mediator, from N ew York,
263 casks of pork, 232 of lard, 100 of hams, 436 of beef, 82 of general provisions, 595
casks of linseed cake for cattle, and a large general cargo of articles, the production of
the United States of America. A remarkable feature in these arrivals of provisions is,
that they have all taken place in vessels belonging to the United States.
M ERCANTILE ACQ UISITIVENESS.
Nothing is more common in the mercantile experience of this country, says the Journal
o f Commerce, than for men to start in life poor, but overcoming all obstacles to rise into
high credit and affluence. It is unhappily quite common, also, for the same men, when
arrived at this elevation, to put everything at hazard, in the hope of more rapid gains,
and missing their object, to lose all. Strange that men should do so, the spectators say—
and yet if they ever reach the same point of elevation, they will very likely pursue the
same course. It is not very strange, perhaps, in such a community as this, that it should
be so. Our merchants are pressed so severely with business that they have time for little
else. Their thoughts are engrossed constantly with business and its gains, and in this way
the desire of acquisition, which is implanted in every bosem for useful purposes, is nour­
ished into a passion, and breaks away from reason. For its improper action there is al­
ways at hand a ready gratification. Besides, a man who has by steady application ob­
tained property and credit, gets to feel as if it would always be so with him. He comes
to think more of his own sagacity, and less of his steady plodding, than he ought; and
having more credit, and perhaps more money, than his present business requires, spreads
out his plans in a disproportionate enlargement. Men so situated do not really expect to
be materially happier or better for the large increase of wealth which they strive for. It
is the passion for acquisition which urges them on. Some may indeed hope to set up a
carriage and enter the fashionable world, and so become the slaves of postillions and the
bon ton. But in general, it i3 acquisition which fills and controls the mind. In 6ober
seriousness, men ail know that they want but little here below, nor want that little long.
They know that such an amount of property as makes them easy in their affairs, and
leaves them to labor steadily for the maintenance of their families, and the performance
o f other duties, is enough, and that more will but increase care and perplexity, without
any compensating enjoyment. If their thoughts are accustomed to reach on to the end of
life and beyond it, and to cherish the feeling that some heart-work is to be done by way
o f preparation for the future, they confess to themselves that more property would rather
be a hindrance than a help in that matter. Yet they love to make money. One says, I
wish I had five hundred thousand dollars. What would you do with it? N o matter; I
should like to have it.
Most men believe that the possession of some property is very desirable, as a means of
rational enjoyment and usefulness. They would think that the first thousand dollars
which a man should acquire, would be worth more to him than the next two thousand ;
and that all his additional gains sink proportionably in value. Some would run along by
this rule until they would at no distant point pass by the summit of increase, and count
farther gain nothing but loss. It is, anyhow, a remarkable fact, staring ns all in the face
continually, that very rich men are seldom reputed happy; though others will continue t©
think, if they could gain the wealth, they would contrive to avoid the anxiety.




i

346

Mercantile Miscellanies.

How shall business men protect themselves from the danger we are considering ? Cer­
tainly it is a great danger. The danger is evidently not to be avoided by simple reliance
upon one’s own superior wisdom and prudence. It is among those who have been longest
in the exercise of prudence, that the most conspicuous examples of imprudence are to be
found. In the great disasters which attended the dissolution of the United States Bank,
how often were the community pained with the news that a man long distinguished for
honesty and prudence had not only speculated, but embezzled, and perhaps forged.
If we may be allowed to suggest remedies for so great a danger, we would say that in
the first place every business man should feel that he is in danger of acquisition. That
will cultivate itself. Then he should set bounds to his desires, from the outset of his ac­
quisitions. Not by fixing a definite sum perhaps, beyond which he will not accumulate,
but so far at least as not to allow the fact that he has reached the point to which he first
aimed, to be merely a new starting point for new plans much larger than the first. Then
dwell much upon the inestimable value of peace of mind. Think how dearly millions
are earned at the expense of anxious days and restless nights. Think how short life is ;
too short for its days to be eaten out by useless distress. Put in practice the adage,4<keep
what you’ve got,” and only act upon the other part of it, “ get what you can,” in a way
consistent with the first. Give away money freely if you are prosperous. This may not
cure the passion of acquisitiveness, but it will counteract and tame i t ; and if done in true
benevolence, will be a source of more true happiness than wealth can buy in any other
way. Consider, that in truth the surest way of arriving at great wealth, is never to be in
a hurry. Set it down as a fixed principle, that you will never depart from your regular
business, unless it be by the mere use of surplus funds. Study the book of the Proverbs
o f Solomon until your mind is full of those old truths; truths which live in constant youth
and beauty, though they be six thousand years old. Go fully into the considerations drawn
from morality and religion, and you may find more powerful motives than any we have
presented.
COMMERCIAL EDUCATIO N.
It needs no essay or argument of ours to show that, in this day especially, those en­
gaged in mercantile pursuits should be men of large and versatile information, familiar
with all those details of general knowledge the possession of which constitute a well read
and well informed gentleman. It is not material to a merchant to have passed through a
collegiate course of study, nor indeed will the engrossing nature of his pursuits leave much
leisure for those studies which are the principal features in college classes; but a general
acquaintance with history, geography, political economy, the laws of trade, the principles
o f banking and currency, commercial statistics, international law, and the general princi­
ples of our own constitution and laws— in these and similar topics of thought and reading,
the merchant of the present day should be perfectly at home.
Such information, besides enlarging and elevating the mind, and adding to one’s re­
spectability and influence in society, is often of itself a fortune, as it enables him to take
advantage of openings which the ignorant would overlook or not appreciate. The unre­
flecting, ignorant trader may float along with the tide, and if it lead to fortune may share
in the general luck; but the man of thought and information, quick to perceive the bear­
ing of a new law, or tariff, or financial regulation, or prompt to appreciate the probable
extent and value of some new opening to trade, will realize it, and gather a rich harvest,
before his uninformed neighbor is aware that an opportunity existed.
A s a matter of policy, merely, our young merchants cannot too highly estimate the
value of a good stock of general knowledge, and cherish those institutions which aim to
promote their advantage in this respect.
TH E A M BER T R A D E.
The amber trade, which was probably first directed to the West Cimbrian coasts, and
only subsequently to the Baltic and the country of the Esthonians, owes its first origin to
the boldness and perseverance of Phoenician coast navigators. In its subsequent exten­
sion, it offers, in the point of view of which we are treating, a remarkable instance of
the influence which may be exerted by a predilection for even a single foreign production
in opening an inland trade between nations, and in making known large tracts of country.
In the same way that the Phocaean Massilians brought the British tin across France to the
Rhone, the amber was conveyed from people to people through Germany, and by the
Celts on either declivity of the Alps to the Padus, and through Pannonia to the Borysthenes. It was this inland traffic which first brought the coasts of the Northern Ocean
into connection with the Euxine and the Adriatic.— Cosmos.




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347

THE BOOK TRADE.
1. —H istory of N ew Netherlands, or N ew York under the Butch. By E. B. O ’C al ­
l a g h a n , M. D.j Corresponding Member of the N ew York Historical Society, and Hon­
orary Member of the Historical Society of Connecticut. Vol. II. 8vo., pp. 608. New
York: Bartlett & Welford.
The first volume of this work was published about two years ago, and duly noticed in
this department of our Magazine. That volume is divided into three books, or periods;
the first commencing with the discovery of America, and extending to the incorporation
o f the Dutch W est India Company, (1492-1621;) the second, from the incorporation of
that company to the opening of the fur, or Indian trade to the inhabitants of New Neth­
erlands, (1621-1638;) and the third, from that time to the end of Director Kieft’s admin­
istration, (1639-1647.) The second volume, which has at length made its appearance, is
divided into three books, commencing with the appointment of Director Stuyvesant, reach­
ing to the incorporation of N ew Amsterdam, (1646-1652;) the fifth book, extending to
the first war with the Esopus Indians, (1653-1659 ;) and the sixth and last book of the his­
tory, from that war to the surrender of N ew Netherlands to the English in 1664. To each
volume is added an appendix, embracing copious notes and rare documents. The work
everywhere evinces on the part of the author the most patient research, and a degree of
industry rarely surpassed in the production of history. A s evidence of this, it may be
stated that he analyzed between twenty and thirty volumes of manuscript records in the
Secretary of State’s office at Albany, which, instead of finding, as had been predicted,
“ tame, pacific, dry, and uninteresting,” teemed with every material which could render
historical research, to a mind so admirably constituted for the undertaking, a work of
pleasure and improvement. Mr. Broadhead, whose valuable labors, as historical agent,
cannot be too highly appreciated, sent home sixteen volumes of Dutch documents, which
he had collected in Holland. From these, the author collected whatever facts or connect­
ing links they supplied, which, together with private papers in old Dutch families, afforded
rich and ample material for a complete and satisfactory history; and such a history, in our
opinion, Dr. O’Callaghan has produced. It is written in an appropriate style, clearly and
concisely; and, what is of far more importance, it possesses internal evidence of a truth­
ful fidelity. The volume is illustrated with several portraits, maps, etc., derived from au­
thentic sources, and executed in a style of elegance in perfect keeping with the entire
“ getting up ” of the work, which is highly creditable to the taste and liberality of the
enterprising publishers. A more valuable contribution has never, perhaps, before been
made to the historical literature of Am erica; and we trust all concerned will be amply re­
warded by ail intelligent, liberal, and patriotic community*
2. —Jones and Newman’s Architectural Publications, first Series.
The American
A rchitect, comprising Original Designs of cheap Country and Village Besidences.
W ith D etails, Specifications, P lans, and Directions, and an E stim ate of the Cost of
each Design. The designs by J o h n W. R it c h , architect. 4to. N ew York: C. M.
Saxton.
The subject of architecture is beginning to attract, in a greater degree than ever before,
residents in our principal commercial cities, owing in a great measure to the facilities af­
forded by the introduction and progress of the railroad system. Boston is enjoying the
advantages of the season ticket system on her railroads in a manner that is populating the
towns from five to twenty miles around, so that her merchants can do business in the city
and live in the country without any loss of time. The same facilities will be enjoyed by
the citizens of New York when the railroad to Albany is completed. The work, there­
fore, the design and plan of which is stated in the title-page quoted at the head of this
notice, is particularly well-timed, and may be referred to with advantage by all who con­
template the erection of villas and cottages on the banks of the Hudson and the line of
the railroad, where sites of unsurpassed beauty are to be obtained at moderate rates. Mr.
Ritch, the author of the present work, has furnished in this first volume a great variety of
designs, out of which the most fastidious taste can select a suitable design for a residence7
The elegance of many of the plans will comniend the work to the taste of the most high­
ly cultivated mind, and their economy to persons of limited means. The volume contains
forty-eight plates, including drawings of cottages, &c., with front, rear, and ground views,
with estimates of the cost, and specifications for building. The work is afforded at the
low price of $ 3 50.




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The Book Trade .

3. —An Universal H istory, in a Series of L etters; being a Complete and Im partial
N arrative of the most Remarkable Events o f all Nations, from the E arliest to the
Present Time. Forming a Complete H istory o f the World. By G. C. H e b b e , LL. D.
Vol. 1, Ancient History. 8vo., pp. 562. N ew York: He Witt & Davenport.
The first volume, commenced in numbers some months since, and referred to in this
department of our Magazine, is completed. The present volume is devoted to ancient his*
tory, beginning with the origin of society, the different forms of government, the founda­
tion of States, &c., and extending to the fall of the Roman Empire. The design of the
author, who has devoted many years to the study of history, and to the selection and pre­
paration of the materials, is, to present to the world, in a new and attractive form, a com­
plete universal history, without prejudice and without partiality, that will be instructive
pot only to the general reader, but worthy of the attention of philosophers, of statesmen*
of lawgivers, and of warriors. He has labored, not to compile from the writings of others
a mere compendium of facts, but to obtain from original sources authentic accounts of the
condition and progress of the human race, and to reproduce anew an impartial view of tlje
grand scenes of human history, written in a spirit of comprehensive and liberal philoso­
phy. He seems to have fulfilled that great historical requisite of Mr. Macauley’s remarks:
“ That in history, the facts are given to find the principles, and the writer who does not
explain the phenomena, as well as state them, performs only one half of his office.” In
accordance with this requirement of history, the author not only arrays before the reader
the great events of the human race, but also exhibits them in the light of those causes
which called them into being. He contemplates man as a being of progress, advancing
towards his high destiny, not by the accident of a blind chance, but in fulfilment of the
wisely ordained plan of an overruling Providence. In his hands history is a powerful
means of promoting moral and social culture, and of developing a love and adoration of
the Great Creator, by whom all things exist. Thi9 work, Which is to be published both
at Leipsic and at London, is brought out by the American publishers in advancer of the
European editions, in accordance with an especial arrangement with the learned author,
and, when completed, will embrace the history of the human race, from its infancy to the
present time. It is written in an easy, popular style, and printed on fine paper, and a
bold, handsome type, and offered at a price that cannot fail of placing it within the reach
of “ the million.”
4. — Popular Objections to Unitarian Christianity Considered and Ansicered. In seven
Discourses. By G e o r g e M. B u r n a f , Pastor of the First Independent Church of Bal­
timore. 18mo., pp. 166. Boston: William Crosby & H. P. Nichols.
These sermons were delivered by Mr. Burnap in the ordinary course of his ministerial
duty, for the purpose of answering “ some of the leading objections which are everywhere
current against the faith” of Unitarian Christianity. Unitarianism, like every other ism }
has undoubtedly been misapprehended and misrepresented. The preacher endeavors to
meet and answer the objections of opponents, and whatever difference of opinion may
exist as to the soundness of his arguments, it will, we think, be conceded that the whole
subject is discussed with marked ability, and in a spirit of fairness and candor that must
command the respect of Catholic minded men, irrespective of the sect to which they may
be attached. In the first discourse he defines the position of Unitarianism ; in the second*
answers the charge of infidelity which is urged against i t ; in the third, attempts to show
that Unitarians desire to have a pure text, and that Trinitarians are obliged to explain the
Bible aw ay; in the fourth, Unitarianism is vindicated from the charge of being mere mo­
rality ; and in the fifth, represented as Evangelical Christianity; in the sixth, he main­
tains that his faith does not tend to unbelief. The sixth and last discourse is devoted to
the religious sentiments of Dr. Watts, who, although educated a Calvinist, at the close of
his life became a Unitarian, so far, at least, as respects his belief in the distinguishing
features of that creed. W e do not see that a change of opinion of imy one man, or num­
ber of men, proves either the orthodoxy or the heterodoxy of that opinion or creed.
5. — The M arriage O ffering: a Compilation o f Prose and P oetry. I8m o., pp. 204.
Boston: Crosby & Nichols.
This little volume consists of selections from many of the best and purest of writers
in our own and other countries. Unlike works of a similar kind, which “ dwell with an
almost nauseating repetition upon the romance and ardor of the master passion,” this is
infused with “ well principled and judicious advice, kind and timely caution, practical wis­
dom, and Christian views of the most vital of all man’s relations.” The compiler has pre­
sented in “ a permanent form the gathered sweetness of literature and religion, the im­
mortal words of genius and inspiration, to sanction, and endear, and crown with ever en­
dearing affection and blessedness, the united destiny” of two hearts. It should find its
way into the hands of every newly married pair in our land.




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6. — The Battle o f Buena Vista, w ith the operations o f the “ Arm y o f Occupation”
fo r one Month. By J a m e s H e n r y C a r l e t o n , Captain in the First Regiment of Dra.
goons. 18mo., pp. 238. N ew York: Harper & Brothers.
The “ Battle of Buena Vista,” an account o f which this volume purports to give, will
probably be regarded as one of the most important events in the military history of the
country ; and it must be acknowledged that the opportunities of the writer for obtaining
an accurate1knowledge of the circumstances and events connected with it, were of such a
nature as to leave little room to err in the narrative. For two months before the battle,
as we learn, he was situated at or near the ground on which it was fought; and, during
that time, he was led, with others, to remark its strength as a military position. H is po­
sition as commander of a company of dragoons, also afforded opportunities of deliberate
observation in many different parts of the scene, which he improved at the time by taking
notes of what was going on around him. With all that fell under his personal notice, or
was derived from minute inquiries of other officers immediately after the battle, he has
combined the substance of the official reports of both parties; and to avoid doing injustice
to the Mexicans, their reports are generally quoted at the foot of the page. It is illus­
trated with a map of the surrounding country, sketched from notes made on the spot, and
an appendix is given embracing all the documents pertinent to the general subject of the
work. It certainly bears the marks of a reliable history, and is written in an easy and
readable style.
7. — Story of the Peninsula W ar. By General C h a r l e s W il l ia m V a n e , Marquis of
Londonderry, G. C. B., G. C. H., Colonel of the Second Regiment of Life Guards.
N ew edition, revised, with considerable additions. 12mo., pp. 454. New York: Har­
per & Brothers.
The work which forms the basis of the present volume has long enjoyed a wide popu­
larity in England, and is perhaps, in its present improved form, the most concise and com­
prehensive account of the Peninsula War that has been offered to the reading public. The
distinguished noble, its author, took an active part in the great struggle, which, together
with his near relationship to the minister of the day, afforded him opportunities which
no other individual, if we except the commander of the forces, could enjoy. Besides, he
possessed a natural quickness of observation, and was in the habit of recording his daily
impressions as they occurred. It appears to be a complete history of the war in the small­
est possible compass, and at so moderate a cost as to be acceptable to a very numerous
class of readers. It is brought down to the peace of 1814, and will be regarded as an in­
dispensable companion to the “ Story of the Battle of Waterloo,” recently republished in
this country by the same enterprising house.
8. — The Peasant and his Landlord. By the B a r o n e s s K n o r r in o . Translated by M a r t
H o w i t t . 12mo., pp. 352. N ew York: Harper & Brothers.
It will be a sufficient recommendation to most readers, that this author is introduced to
the English reader by Mary Howitt, the translator of the works of Frederika Bremer and
Hans Christian Andersen. “ The Baroness Knorring,” says Mrs. Howitt, “ stands side
by side with the author of *The Home ’ and ‘ The N e ig h b o rsa n d I feel sure,” she adds,
“ that the peculiar excellence and originality of her writings will be equally acknowledged
in this country when once they are made known to our readers.” The present story af­
fords “ one more of the many demonstrations which we every day meet with, of the
highest and purest natures being driven from their proper course, and oppressed and per­
verted by the worst. It affords, also, a grand lesson on the subject of Temperance; and
proves, that though one false step often leads to ruin, which is retrievable only by death,
yet that uprightness and virtue, through suffering and through death, work out their own
salvation.”
9. — Vanity Fair. A Novel without a Hero. By W il l ia m M a k e p e a c e T h a c k e r a y .
With illustrations by the author. 8vo., pp. 382. N ew York: Harper & Brothers.
T o those who have read the “ Yellowplush Correspondence,” by the same inimitable
humorist, the mere announcement of this equally clever work will be all that is required of
the journalist. It furnishes a broad but life like and well developed satire upon English
society ; and, as human-nature is pretty much the same in America, it will be found not
altogether inapplicable to society as it exists in our own country. The work comes to us
in a really beautiful dress; and the numerous illustrations are capital, almost telling the
story without one’s reading it.
10. — The H istory of Don Quixotte de la Mancha. From the Spanish of Cervantes.
With illustrations by S c h o f f . 8 vo ., pp. 444. Boston: Charles H. Peirce.
A new, cheap, and handsome library edition of this world-wide famous romance.




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11. — Chemical Technology; o r , Chemistry applied to the A rts and to Manufactures,
By Dr. F. K n a p p , Professor at the University o f Gressen. Translated and edited, w i t h
numerous notes and additions, by Dr. E d m u n d R o n a l d s , Lecturer at the Middlesex
Hospital, and Dr. T h o m a s R ic h a r d s o n , of Newcastle-upon-Tyne. First American
Edition, with notes and additions, by Professor W a l t e r R . J o h n s o n , of Philadelphia.
Volume I. Illustrated with two hundred and fourteen Engravings on Wood. 8vo.,
pp. 504. Philadelphia: Lea &, Blanchard.
This work is divided into two parts, in groups of subjects. The first treats of those
branches of manufacture depending upon the process of combustion, including peat,
American coals, the relative value of fuel, }he application of heat, of illumination and
lighting materials, modes of effecting illumination, and of the illuminating power of dif­
ferent materials. The second group of subjects pertains to the process of manufacture
concerned in the production and application of the alkalies and earths, including common
and sea salt, soda, potashes, borax and boracic acid, saltpetre and nitre, gunpowder, gun
cotton, aqua fortis, nitric acid, manufacture of soap, oil varnish, &c. The illustrations
consist of the apparatus for the various manufactures from sulphur, and the manufacture
of salt, soda, saltpetre, gunpowder, soap, &c. &c. The importance of chemistry, in its
application to the industrial and useful arts, was never more completely illustrated than in
this really scientific and practical treatise. It is, we learn, to be followed by works on
Pharmacy, Astronomy, Chemistry, Heat, Hydraulics, Metallurgy, Pathological Anatomy,
and Rural Econom y; which, like the present work, will embody all the additional im­
provements and discoveries made in our own country.
12. — L iterary Sketches and L e tte r s : being the Final M emorials of Charles Lamb, never
before published. By T h o m a s N o o n T a l f o u r d , one of his Executors. 1 8 m o ., p p .
306. N ew York: D. Appleton & Co.
In the preface to the Letters and Life of Charles Lamb, published twelve years ago,
reference was made to letters yet remaining unpublished, and “ to a period when a more
complete estimate might be formed of the singular and delightful character of the writer
than was there presented.” That period, says Mr. Talfourd, has arrived. The appre­
ciation which the letters already published, both in this country and America—perhaps
even more remarkable in America than in England—have attained, (we quote from the
compiler’s introduction,) and the interest which the lightest fragments of Lamb’s corre­
spondence, which have accidentally appeared in other quarters, have excited, convinced
Mr. T . that some letters which he withheld, as doubting their worthiness of the public
eye, will now be welcome. The collection which Mr. Talfourd has made, will, we think,
awaken a fresh interest in that singular poet, essayist, and humorist.
13. — Painting. Its P ise and Progress from the E arliest A ges to the Present Time.
Compiled from the best Authorities. 12mo., pp. 428. Boston: John P. Jewett & Co.
The author of this work, although disclaiming all pretensions to originality of matter
or of manner, has consulted, as we infer from the long list of authorities duly credited in
the introduction, almost every writer of note upon the rise and progress of the art. The
results of his research are given in a concise, but clear and comprehensive form. The
design includes sketches of the lives and works of many of the eminent artists of ancient
and modem times, with notices of the principal galleries of art in Europe. It-will serve
as a sort of hand-book of facts for those who intend to visit the galleries of art in the Old
World, and tend, perhaps, to refresh the memories of such as have already enjoyed that
privilege. W e esteem it a valuable addition to our own private library.
14. — The Green Mountain Boys : an H istorical Tale o f the E arly Settlement o f Ver­
mont. By the author of “ Mary Morton, or the Money Diggers “ Lock Amsden, or
the Schoolmaster,” &c. 2 vols. in one. 12mo., pp. 364. Boston : B. B. Mussey.
The history of this country furnishes an abundance of incidents for the stirring tale, and
the instructive narrative. To embody and illustrate a portion of the more romantic of
these incidents, which actually occurred in the early settlement cf Vermont, with the use
of but little more of fiction than was deemed sufficient to weave them together, and to
impart to the tissue a connected interest, the author has succeeded in furnishing a very
readable, and withal instructive book. He gives an apparently true delineation of the
manners and feelings of those among whom the scene is laid, together with the deeds and
characters of some of the leading actors in the event3 he so well describes, as gathered
from the published histories of the times, from private papers to which he had access, and
more particularly from “ the lips of the few aged relics of that period who actively parti­
cipated in the wild and stirring scenes which marked the settlement of that part of the
country.”




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351

15. — The W orks o f Washington Irving. N ew edition, Revised. Vol. I. Knickerbock­
er’s New York. 12mo., pp. 452. N ew York: George P. Putnam.
This is the first of a new, revised, and complete edition of the works of Washington
Irving, to be completed in twelve volumes. It is elegantly printed, with a new and beau­
tiful type, on a “ lily-white ” superfine paper, and altogether forms one of the handsomest
volumes that has been produced in this country. A criticism in our journal on the wri­
tings of Irving, would be about as ridiculous and uncalled for, as a review of Shakspeare
and the Bible. This edition of Knickerbocker’s amusing history of N ew York is intro­
duced by a fresh “ apology ” from the author, from which we make a brief extract, as
follows:—
“ The main object of my work, in fact, had a bearing wide from the sober aim of his­
tory ; but one which, I trust, will meet with some indulgence from poetic minds. It was
to embody the traditions of our city in an amusing form; to illustrate its local humors,
customs, and peculiarities; to clothe home scenes and places and familiar names with those
imaginative and whimsical associations so seldom met with in our new country, but which
live like charms and spells about the cities of the old world, binding the heart of the na­
tive inhabitant to his home.”
This work was first published in 1809, and its interest since that time has rather in­
creased than diminished. Time will only serve to enhance its value, and increase, if pos­
sible, its popularity.
16. — Study o f Modern Languages. P a rt First. French, Italian, Spanish, Portuguese,
German, and English. Edited by Louis F. K l i p s t e i n , A. A., LL. M., and Ph. D. of
the University of Giessen. 4to., pp. 68. New York: George P. Putnam.
This volume, furnishing specimens of the several languages named in the title, pos­
sesses at the same time all the advantages of literal translations. The elementary
phrases, conversations, cards, letters, proverbs, and idioms, will be found useful, and the
notes appended are calculated to remove difficulties in the way of the learner. W e trust
the work will receive an adequate patronage, as in that case the author promises to extend
its scope, so as to render it a complete text-book of the most important languages of Europe.
17. — Travels in Peru, during the Years 1838-1842, on the Coast, in the Sierra, across
the Cordilleras and the Andes, into the P rim eval Forests. B y Dr. J. J. V o n T s c h u d j .
Translated from the German by T h o m a s in a Ross. N ew edition, complete in one vol­
ume. pp. 354. N ew York: George P. Putnam.
W e noticed this work in terpis of high but deserved commendation when the first edition
made its appearance, and our readers will probably recollect several interesting extracts of
a commercial character which we gleaned from its instructive and deeply interesting
pages. No previous writer has painted so ornamented a picture of the city of Lima and
its inhabitants, and, indeed, of the whole country noted by the traveller, as is contained
in this volume. It must take rank among the standard volumes of travel in every judi­
ciously selected library.
18. — The Water-Cure Journal and H erald of Reforms. By J o e l S h e w , M. D. Pub­
lished monthly, at one dollar a year, by Fowlers & Wells, Clinton Hall, New York.
T w o numbers of this useful work have been published. Of the system of prevention
and cure advocated and illustrated by Dr. Shew, a disciple of Priessnitz, the founder of
it, we have long since expressed a favorable opinion, based on that greatest of human
teachers, Experience. We therefore care not how widely this journal circulates, or rather
we care much, as we believe it will be productive of the greatest possible amount of phys­
ical, if not moral good, and the two are, in our mind, inseparably connected. In the hands
of the present enterprising and philanthropic publishers it must inevitably secure an ex­
tensive patronage. The more the system is understood, the more will it be appreciated
and practised.
19. — The Playm ate, a Pleasant Companion fo r Spare Hours. N ew York: Berford
& Go. Boston : Crosby & Nichols.
The number for July completed the first year of the existence of this excellent juyenile
periodical. This work comprises original tales, ballads, fables, historical anecdotes, poe­
try, new and old, and readings in natural history, every article being illustrated with care­
fully designed and well-executed wood engravings, from drawings by eminent artists.
The volume just closed contains articles from Mary Howitt, Mrs. S. C. Hall, R. H. Horne,
Hans Christian Andersen, and many more of England’s purest and best writers. It should
be taken in every family where there are children from five to fifteen years of age j and
even those of a larger growth will find it ** a pleasant companion for spare hours.”




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20. — Two H undred Stories and Select Pieces fo r Children, adapted to lead them to
Love and Obey their P arents, to be K in d and Obliging to their Companions, and M er­
cifu l to A n im a ls: also, to Remember their Creator. Compiled b y a M i n i s t e r of t h e
Gospel. 18mo., pp. 234. Boston : John P. Jenett & Co.
The design of this little volume is clearly stated in the title-page. It consists of selections from more than fifty different publications-both in Europe and America, which will
be found to contain many salutary precepts, and instructive examples, designed alike to
improve the mind— teach principles of love and obedience to parents—affection and ten­
derness to brothers, sisters, and associates—benevolence to the poor and afflicted—kind­
ness to animals, and duty to God, the Creator.
21. — The English P u lp it; a collection o f Sermons by the most Eminent livin g Divines
o f England. 8vo., pp. 400. Boston: Charles H. Peirce.
This volume contains thirty-two sermons from as many different living clergymen of
the English pulpit, representing five or six of the sects popularly denominated evangelical or
orthodox, including Episcopal, Baptist, Methodist, and Presbyterian preachers. The sub­
jects discussed are of a religious or theological character, not, however, enforcing the pe­
culiarities of either of the denominations, whose pulpit eloquence it is the design of this
collection to represent. N o portion of the present volume has before been published in
this country, and it contains sermons from several ministers whose productions are but
comparatively little known to the American public.
22. — A lfred in India, or Scenes in Hindostan. Boston: Gould, Kendall & Lincoln.
This little volume, the sixth of the series of “ Chambers’s Library for Young People,"'
consist of a familiar account of the more interesting features of English life in India, pre­
pared with a view to the amusement and instruction of young people. It was written by
a lady who has returned to England with her family from India. This series of books
is unexceptionable, and cannot fail of securing a very general popularity.
23. — The Childhood o f M ary Leeson. By M a r y H o w i t t . Boston: Wm. Crosby & H .
P. Nichols.
It is unnecessary to say more of this little volume, than that it embodies Mary Howitt’s.
idea of the spirit which ought to direct the education of a child, as illustrated in the story
of Mary Leeson’s childhood. A t a future time, and in another story, we are promised the
history of the next ten years of Mary Leeson’s life, in which “ it will be seen what was
the superstructure which rose upon a foundation of truth, obedience, and love.”
24. —Lectures to Youth. Containing Instructions preparatory to their entrance upon
the A ctive Duties o f L ife. By R o b e r t F. L a w r e n c e , Pastor of the Congregational
Church, Claremont, N. H. Boston: James French.
This little volume contains seven lectures, inculcating and delineating what the author
conceives to be right principles, pointing out the evils to be avoided, and describing true
greatness, and the pleasures of religion.
25. — The A rt of Conversing. W ritten for the Instruction o f Youth in the P olite M an­
ners and Language o f the Drawing-room. By a S o c ie t y o f G e n t l e m e n . Boston:
James French.
The design of this work is to demonstrate the refinement of conversation, to offer rules
for its right use, and treat of certain particulars relative to practice, an ignorance of which
frequently places the sensible man on a level with the simpleton. It clearly points out the
means of appearing to advantage in the private circle, in public interviews, and in every
situation in which an individual may be placed. W e commend the remarks on “ Business
Visits ” to our mercantile readers.
26. —Floral Gems, or Songs o f the Flowers. By Mrs. S. T h a y e r , author of “ The Va­
cation,” “ Passion,” etc. Boston: James French.
This beautiful miniature volume gives the classification, order, etc., of the gems of the
floral world, with poetical illustrations selected from the best poets with rare discrimina­
tion. It is the best thing of the kind that we have seen in a long time.
L i t t e l l ’s L iv in g A g e .—W e

refer our readers to the prospectus of this deservedly pop­
ular work on the third page of the cover of this Magazine ; cheerfully and heartily en­
dorsing the unmistakeably high praise awarded to the work by the late John Quincy
Adams, who has pronounced it to be “ the most useful of all the periodical journals de­
voted to literature and science which abound in Europe and in this country.”