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vestments, that we can readily see how great would be the danger of a widow's losing all she might thus come into possession of. Her position, too, at such a time, is one in which she might easily be imposed upon by injudicious and designing persons, and be thus deprived of the benefits of the insurance. The plan now proposed avoids these and other similar difficulties, by enabling the insurer to secure a certain and definite provision, in annual instalments, for the permanent support of a surviving nominee. For instance, by paying a premium about the same as required on a ten thousand dollar policy, a husband can secure for the support of his widow on his death one thousand dollars a year during the remainder of her life. Thus the danger and expense to which we have referred, as necessarily involved in the investment of money by inexperienced persons, and from dependence upon advisers who may prove injudicious, or perhaps adversely interested, are avoided, the company virtually retaining the money, and paying the nominee ten per cent. interest. We think, therefore, this can truly be said to be “the most effective, and, indeed, the only method of securing a definite, certain and permanent support" to a surviving widow or orphan; and we trust that similar policies will be issued by all our life insurance companies.

AMERICAN STEAM FIRE - ENGINES IN ENGLAND.

From the London Engineer of the 28th March, we learn that a trial of an American steam fire-engine, taken to that country by Mr. Lee, of the Novelty Iron Works, New-York, recently took place at the distillery of Mr. FREDERIC Hodges, Lambert. Besides several distinguished visitors, including the Duke of Sutherland, the Earl of Caithness, Mr. T. HANBEY, M. P., &c., a large number of engineers, among whom were Mr. Scott Russell, Mr. J. E. McConnell, Mr. C. E. Amos, Mr. APPOLD, Mr. SHAND, &c., were present. Mr. Hodges first exhibited the working of his two hand-engines, the largest in London, a detachment of the Grenadier Guards, 80 in number, being mustered for manning the handles. The hand-engines drew their water from a well 6 feet below the suction valve, and one of them threw a 1-inch jet about 125 feet high, the chimney of the distillery, 140 feet high, forming a good standard of measurement.

The hand-engines were worked by 40 men each. The steam fireengine was then brought out, the fire laid, and the match applied at 3.58 P. M. In five minutes the pointer of the steam gauge began to move, in seven minutes the pressure of steam was 5 pounds, in ten minutes 12 pounds, in eleven minutes 15 pounds, and the engine commenced working at this pressure. A minute afterwards the steam was at 30 pounds, in two minutes 65 pounds, and in three minutes 120 pounds, whence it gradually rose to 140 pounds. The boiler made steam in the greatest abundance, and it was some times requisite to check the fire to keep it below 200 pounds. The engine was worked by Mr. LEE, the patentee, assisted by Mr. Charles B. King. The water was taken from a source a few feet above the engine, and led into the pump under the moderate pressure thus obtained. A 1-inch jet was thrown at least 5 feet over the chimney, or 145 feet vertically. The Times' report states the height to which the jet was thrown as 150 feet. The same sized jet was afterwards thrown 191 feet horizontally.

JOURNAL OF BANKING, CURRENCY AND FINANCE.

1. CITY WEEKLY Bank RETURNS, New-YORK CITY BANKS, PHILADELPHIA Banks, Bostox

BANKS, PROVIDENCE Banks. 2. WEEKLY STATEMENT BANK OF ENGLAND. 8. Savings BANKS STATE OF NEW-YORK. 4. BANK OF MAINE,

CITY WEEKLY BANK RETURNS.

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New-York Banks. (Capital, Jan., 1862, $69,493,577; Jan., 1861, $69,890,475.)

Weekly Date.

Loans. Specie. Circulation. Net Deposits. Clearings. January 4,... $ 154,415,826 $ 23,983,878 $ 8,586,186 $ 111,789,233 $ 100,642,429

11,... 152,088,012 25,373,070 8,121,512 113,889,762 105,634,811 18,... 149,081,433 26,120,859 7,369,028 113,327,160 107,732,780

25,... 145,767,680 26,698,728 6,828,017 110,874,786 100,001,959 February 1,... 144,675,778 27,479,583 6,404,951 112,057,003 93,791,629

8,... 143,803,890 28,196,666 6,077,417 110,637,557 113,216,297 15,... 141,994,192 28,114,148 5,762,506 110,430,475 105,102,177

22,... 139,950,958 28,875,992 5,489,496 109,079,076 111,346,066 March 1,... 137,674,238 29,826,959 5,363,944 107,974,499 109,854,823

8,... 133,055,148 30,436,644 5,869,206 103,715,728 113,512,576 15,... 130,622,776 30,773,050 5,904,866 100,296,704 118,957,978 22,... 127,615,306 32,023,390 6,260,309 97,601,279 115,376,381

29,... 125,021,630 32,841,802 6,758,313 94,428,071 106,973,432 April 5,... 124,477,484 33,764,382 7,699,641 94,082,625 111,336,384

12,... 123,412,491 34,594,668 8,004,843 93,759,063 114,738,013 19,... 123,070,263 34,671,528 8,064,663 95,179,340 113,529,377

06

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PHILADELPHIA BANKS.

(Capital, Jan., 1862, $11,970,130.)

Due to Die from Dato. Loans. Specie. Circulation. Deposits. Banka, Banks. Jan, 6,.$ 31,046,537 $5,688,728 $ 2,145,219 $ 21,396,014 $3,645,956 $ 1,796,805

13,. 31,145,938 5,692,123 2,162,152 21,324,610 3,992,952 1,702,716 20,. 30,601,160 5,733,450 2,120,756 20,698,496 4,120,261 1,575,118

27, 30,385,606 6,821,323 2,121,146 20,058,098 4,209,006 1,858,688 Feb. 3,. 30,385,319 6,884,011 2,144,398 20,068,890 4,672,872 1,707,136

10,. 29,974,700 6,923,874 2,191,547 19,032,535 4,890,288 1,587,481 17,. 29,388,544 5,849,354 2,191,512 18,692,182 4,661,442 2,052,031

24,. 29,280,049 5,867,686 2,230,605 18,777,300 5,205,203 1,935,414 Mar, 3,. 29,393,356 5,881,108 2,343,493 18,541,190 5,218,383 1,828,383

10,. 28,083,499 5,869,730 2,575,503 17,375,771 5,131,834 1,733,169 17,. 28,723,835 5,897,891 2,632,627 17,253,461 5,342,876 1,649,137 24,. 28,350,615 6,915,535 2,707,804 17,066, 267 5,210,365 1,774,162

31,. 27,831,333 6,884,314 2,904,542 17,024,198 5,100,186 2,134,392 April 7,. 28,037,691 0,886,424 3,378,970 16,636,538 5,607,488 2,231,889

14,. 28,076,717 5,912,870 3,496,420 18,112,446 4,868,842 2,634,171 21, 28,246,733 6,046,260 3,525,400 19,011,833 4,548,327 2,504,147

66

Boston BANKS. (Capital, Jan., 1862, $38,231,700; Jan., 1861, $38,231,700.)

Due to Due from Date. Loans. Specie. Circulation, Deposits. Banks.

Banks. Jan. 6,.$ 65,612,997 $ 8,920,486 $ 6,451 587 $ 27,093,839 $ 9,187,924 $8,701,873

164,74,039 8,580,607 6,612,512 25,642,994 9,634,227 8,805,255 20,. 64.409,585 8,585,277 6,549,871 25,441,327 9,547,319 9,018,388

2763,026,91 8,562,175 6,284,268 24,030,776 9,593,545 8,727,348 Feb. 3,. 62,628,793 8,529,483 6,260,299 23,500,321 9,727,783 8,766,415

162.3,600 8,514,600 6,616,000 22,784,700 9,892.600 8,965,500 17,. 62,587,788 8,410,890 6,469,309 22,034,974 9,653,725 8,315,887

262,063,640 8,341,588 6,580,205 21,515,228 9,625.869 8,644,360 Mar. 3,. 61,678,500 8,364,500 6,318,700 21,208,500 9,681,500 8,982,600

161,834,500 8,409,535 6,693,139 20,740,208 9,906,110 8,450,721 1761,77, 8,471,000 6,364,800 20,554,000 9,790,000 7,981,000 24,. 61,656,420 8,441,058 6,219,512 20,326,087 9,715,256 7,669,531

31,. 61,360,789 8,441,196 5,908,272 19,975,018 9,434,782 6,978,527 Apr. 7,. 61,208,974 8,674,170 6,557,152 21,014,000 9,245,088 8,133,124

11,58,969 8,688,573 6,170,383 21,009,010 8,949,259 7,173,374 21,. 61,019,787 8,679,356 5,924,906 21,570,017 8,529,277 6,946,164

PROVIDENCE BANKS. (Capital, Jan., 1862, $15,454,600.)

Due to Due from Date. Loans. Specie. Circulation. Deposits. Banks.

Bunla. Jan. 11,....$ 19,356,800 $ 408,700 $ 1,889,600 $3,054,600 $ 1,099,800 $ 915,400

18, 19,238,700 402,900 1,830,300 2,899,200 1,071,500 898,500 25,

19,160,600 394,700 1,756,500 2,899,600 959,400 1,057,400 Feb. 1,.... 19,160,600 394,700 1,811,100 2,950,500 871,800 925,500 8,.. 19,087,700 395,900 1,814,300 2,915,200 900,400 934,700

199,00 394,800 1,784,000 2,702,200 911,100 1,081,000 22, 18,869,800 396,800 1,879,100 2,792,700 893,900 1,180,000 Mar. 1,.... 18,920,500 407,500 1,791,200 2,924,400 953,900 1,253,000

18,953,90 405,100 1,978,500 3,030,600 1,131,500 1,598.800 15,.... 18,998,600 408,500 1,848,100 2,946,800 1,103,200 1,484,300 22, ... 19,148,400 408,300 1,879,200 3,060,900 1,085,000 1,407,700

29,.... 19,360,500 411,300 1,857,100 3,078,800 1,021,000 1,165,400 Apr. 5,.... 19,641,000 417,500 2,102,000 3,124,000 1,115,500 1,063,200

12,.... 19,719,200 416,600 2,036,300 3,017,700 1,081,000 894.800 19,.... 19,644,500 408,600 1,953,400 3,015,900 1,020,400 845,400

66

BANK OF ENGLAND.

WEEKLY STATEMENT.

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Public Private

Cain and Rate of Date. Circulation. Deposits. Deposits. Securities. Bullion, Discount Jan. 1, £20,818,190 £7,345,833 £ 15,036,062 £ 30,419,730 £ 15,961,439 3 pr. ct.

821,086,67 4,542,974 18,206,488 31,022,505 16,046,017 25
15, 21,460,925 4,583,353 16,480,452 29,509,864 16,291,626 25
22, 21,697,928 5,467,340 15,366,081 29,464,720 16,350,939 23

29, 21,183,376 5,753,063 14,751,486 28,696,456 16,280,369 21 Feb. 5, 21,427,554 5,788,441 14,179,917 28,834,352 15,956,903 21

12, 21,236,312 4,884,989 15,5 26,334 29,010,241 16,042,949 29
19, 20,772,726 5,397,144 15,085,843 28,771,812 15,894,405 21

26, 20,736,715 5,762,819 14,939,742 29,024,962 15,749,055 25 Mar. 5, 21,217,246 6,755,287 13,737,507 29,692,441 15,673,898 25

12,20,213,685 7,527,911 13,763,718 29,489,795 16,027,111 24
19, 20,483,509 8,011,694 13,340,928 28,953,089 16,548,586 24
26, 20,814,655 8,413,275 13,154,258 29,140,207 16,812,798 25

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No. de

841

THE SAVINGS BANKS OF NEW-YORK. The official returns made to the legislature, by H. H. Van Dyck, Esq., Superintendent of the Banking Department, has just been issued, from which we compile the following tables : COMPARATIVE VIEW OF THE SAVINGS BANKS OF THE CITY AND STATE OF NEW-YORK, ON THE 1ST JANUARY, 1861-1862.*

Amount deposit 8, Amount deposits, positors, New-YORK CITY.

Jun., 1861.

Jan., 1562. Jun., 1862. Atlantic Savings Bank,.

$ 80,374 $ 123,216 Bank for Savings,...

10,062,616 8,821,750 47,391 Bloomingdale Savings Bank,..

1,005 Bowery Savings Bank,

10,294,995 9,173,033 39,601 Broadway Savings Bank,.. 1,102,794 1,110,727 3,759 Citizens' Savings Bank,..

27,767

55,166 735 Dry Dock Savings Bank,..

1,976,064

2,110,890 7,295 East River Savings Bank,. . 1,161,234 1,068,243 5,075 Emigrant Industrial Savings Bk., 2,563,475 2,425,169 9,280 Franklin Savings Bank,...

6,140 113 German Savings Bank,...

759,367 889,042 5,085 Greenwich Savings Bank,

3,898,339 3,402,409 15,771 Irving Savings Bank,....

1,086,547 1,064,208 4,412 Manhattan Savings Bank,.

2,794,934 2,676,907 11,148 Mariners' Savings Bank,...

768,805 731,585 3,231 Mechanics and Traders’ Sav. Bk., 532,933 452,031

2,475 Merchants Clerks Savings Bank, 2,103,285 1,896,247 7,736 Rose Hill Savings Bank,

119,019 111,285 541 Seamen's Savings Bank,.

8,922,634 8,215,686 25,861 Sixpenny Savings Bank,.

176,322

167,451 8,657 Third Avenue Savings Bank,... 302,073 363,826 1,606 Union Dime Savings Bank,... 254,244 320,006

4,556

New-York City,....

$ 48,988,826 $ 45,184,017 205,169 Brooklyn Savings Bank,... 3,681,339 3,513,250 14,411 Kings County Savings Bank,.

55,698 461 Williamsburgh Savings Bank,... 1,905,761 1,916,041 10,287 South Brooklyn Savings Bank,.. 928,953 920,774 5,338 East Brooklyn Savings Bank,...

14,182 374 Brooklyn Dime Savings Bank,.. 275,693 355,676 6,905

New-York and Brooklyn,.... $ 55,780,572
Interior cities and towns,.. 11,669,825

8 51,960,638 242,945

12,122,481 57,566

Total State of New-York,.... $ 67,450,397 $ 64,083,119 300,511

It will be seen, on comparing the above returns, that during the year 1861 the deposits in New-York and Brooklyn Decreased,....

$ 3,819,934 Interior cities and towns increased,.

452,656

Net decrease in the State,...

$3,367,278 For statement of Savings Banks, years 1857–1861, see MERCHANTS' MAGAZINE, Volume xlvi. p. 33.

The table given below shows a large annual increase in the amount of deposits since 1858 until the last year, but the exhibit is more favorable than we could have anticipated, in view of the prostration of business during the first six months of 1861, and the amounts withdrawn to assist the earlier volunteers :

Deposits 18t Jan.

1858, 1859, 1860,

Amount.
$ 41,222,672
48,194,847
58,178,160
67,450,390
64,083,119

1861,

1862,

One peculiarity of the returns is, that the average amount due each depositor in the Seamen's Savings Bank is over $318, which exceeds that of any other; the average sum due each depositor in the two cities being $213, and in the interior towns and cities, $212. The disproportion of deposits in this city compared with the country towns shows the greater concentration and accumulation of labor and capital in the former, viz. : Population. Savings Deposits.

Loerage. New-York, ....

813,000 $ 45,085,000 $ 55 00 Kings County,

280,000
6,766,000

24 00 All others,...

2,794,000
12,222,000

4 30

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These results present curious matter for consideration on the part of political economists. It is correctly observed, we think demonstrably shown in a recent report, “ that the ability of a people to pay taxes is in ratio to the density of their number.” As an instance : New-York city, with its population of 813,000, can bear a burden of taxation equal to that of the whole State. We pay ten millions of taxes annually in this city, which is probably double what is paid by the five millions of whites in the seceded States.

COMPARATIVE CONDITION OF SAVINGS BANKS, 1st JAN., 1861-1862.

RESOURCES.

Jan. 1, 1861, Bonds and mortgages,.

$ 26,455,007 Stock investments, ..

33,550,918. Amount loaned thereon,.

1,429,153 Amount loaned on personal securities,

49,177 Amount invested in real estate,.

1,042,305 Cash on deposit in banks,...

6,485,130 Cash on hand not deposited in banks,... 1,197,169 Amount loaned or deposited, not included in above heads,..

152,256 Miscellaneous resources,

48,541 Add for cents,..

96

Jan, 1, 1862 $ 25,643,014 30,821,821 1,073,899

135,718 1,010,295 6,251,410 1,937,385

177,155 93,428

108

$ 70,409,752 $ 67,144,233

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