half of which to be appropriated to the current expenses of the State, and one half to the absorption of outstanding Treasury notes. This was adopted almost without a dissenting voice, and the Legislature adjourned. This is to all intents and purposes—we blush to write the confession-Repudiation. And capitalists look forward to an extension of this example in all the indebted States. We here annex the present rates of State stocks, because a marked decline has taken place since the quotations in the January number :— a 90 ....80 a 87 .6 dollar, b'k l'n, 6 sterling,. ..6 .1855..............86 a 87 .1858......86 a 861 1849......75 a 77 ...fire...... .814 a 851. water. 1 year. .84 a 851. a 100.. 1856... ---.....bonds 4's...... a a .59 a 63 ..56 a 57 .55 a 55. 1860......56 a 56. а ..1870...... 55 a 551. ..85 ...85 ..85 a 86 ...75 .761 a 77 ...75 .76% a 77 ...75 ..70 a 75 .7* a 74 ...72 a 75 ....72 a76 ..76 a 77...77 a 78 ....77 a 78 ..96 a 97 .96 a 97....96 a 98 .85 a 90...90 a 95 ....90 a 92 .37 a 58 ...45 a 50 ....44 a 49 ...73 a 76 ...70 a 71 ....68 a 70 ..72 a 73 ...69 a 70 ....67 a 68 .72 a 73 ...69 a 71 ....67 a 68 .72 a 73 ...69 a 70 ...67 a 68 ..60 a 70 .70 a 73 a 90 ....80 × 87 a 77 ....68 a71 a 77 ....68 a *2 a 77 .68 a71 а ...6 From month to month what a rapid depreciation of property is here presented! and the tendency is still dowward, although every political expedient has been practised to stay the ruin as it rolls onward. The grand cause, however, yet remains untouched. It is the question of taxation. State after State declares its inability to pay its debts, because that course is easier for political partisans, than to advocate heavy taxes. Even the credit of the State of New York has withered under the gigantie borrowing schemes, and the diminutive revenue plans, of the late party in power. Large as is the business capacity of the State of New York, the extravagance of its rulers had projected a debt too vast for that trade to carry, and still shrank from the test of taxation to provide for the interest. Hence it is, that its 6 per cent, stock is 20 per cent. worse than that of the Federal government, The actual payment of the State interest has less influence upon the credit of a State, than the manner in which it is paid. This was seen in the case of Illinois, the stock of which fell, in August last, to 50 cents on the dollar; although up to that time, its payments had always regularly been made. The State of Pennsylvania is also an instance. She failed on the 1st of February to pay her interest, and the stock fell to 52; by forced means, she was enabled to resume her payments on the 14th of February, and on the next day the stock sold at 42, notwithstanding that payment. These facts indicate that it is actual discredit that causes the fall in stocks. The remedy exists only in prompt and ample taxation. The aggregate indebtedness of all the States at the outside is but $250,000,000, which is indeed a round sum for money wasted; but if we turn to the annual production of the country, it sinks into insignificance. The census returns give us the following aggregates as the productions of the Union for 1839: VALUE of the PRODUCTIONS IN THE U. S., ACCORDING TO THE Census Returns For 1839. Agricultural products for 1839...................... Manufactures. Mines. The Forest. Aggregate.. .$806.453.071 .404,832,615 .62,768,088 .12,206,031 18,845,717 .3,199,729 .$1,305,305,251 With such an amount annually added to the national wealth, it would seem preposterous to complain of an annual tax of $25,000,000 for interest and sinking fund. Since our last number, the famous Bankrupt Law has gone into operation; and up to this moment, the notices in all sections of the country amount to scarcely 800; notwithstanding that honorable Senators pledged themselves that there were 500,000 anxious to take advantage of it. It is undoubtedly true, however, that a large number of bankrupts have been able to effect settlements, and obtain a discharge from their creditors, without having recourse to the law. The number of persons so situated has, however, been immensely overrated, a fact which may be arrived at with some degree of certainty, by recurring to the late census returns. The statistics furnished by those returns are of the highest importance in arriving at conclusions as to the extent of the different interests in this vast country. They furnish the undeniable fact, that this is purely an agricultural country, in regard to the number of persons employed, as well as the annual productions of each class, and the capital employed in each. For our present purpose, which is to approximate the bankrupt interest, we have selected the following table, of the number of persons employed in each occupation, with the capital invested :— Number of PERSONS OF EACH OCCUPATION IN THE U. S., WITH THE CAPITAL EMPLOYED. Capital. No. The total number of persons occupied in these different employments is as follows :— The agricultural interest, it will be seen, is vastly paramount to all others; yet it is not among them that the bankrupts are to be found. They are to be met with among the trading and speculative classes, the whole number of whom, is scarcely 140,000. If 28,000, or 20 per cent. of these are bankrupt, it is a very large proportion; and from the numerous settlements going on, but a small proportion of them will take the benefit of the act. Out of an active population of 4,800,000, then, an unjust and demoralizing law has been created, by party clamor, for the benefit of 5000, or about one person in 960. This, it will be remembered, was one of the great measures of "relief” at the Extra Session, for the benefit of the whole people. The extent of that "relief" is here seen at a glance. The persons benefited by the law, appear (with a small number of exceptions) to be only that class of desperate and dangerous speculators, whose hazardous operations jeopard the welfare of the whole community, and the disastrous results of which, defying all settlement, have recourse to undiscriminating extinguishment. LITERARY INTELLIGENCE. THE extensive and valuable collection | der of their value. To give to the student of works of art, left by the great German poet Goëthe, is, it appears, about to be brought to public sale. Several German savans are now engaged in preparing the catalogue. a comprehensive and ready view of the merits of the various articles composing the Materia Medica, and of their relations to each other, physiologically considered. And lastly, to supply a convenient means of graduating the doses of medicines, &e. Besides the ten great classes into which medicines are distributed, these are divided into orders; and some of these orders are subdivided into groups, which are adapted to diseases of a particular char The musical world will doubtless hail with delight the forthcoming publication of those long hidden treasures,—the hitherto unknown-to-have-existed Oratorios, Masses, and Operas of the celebrated Mozart, amounting to just within 300 in number. These MSS. include a ballet intend-acter. Thus, alteratives are an order of ed for the opera of "Idomeneo," choruses and symphonies for the play of "Thamos," with other interesting works, on the margins of which are to be seen numerous notes in the hand-writing of the author; these, it is said, are highly valuable, and will be given in the publications. "Libraries are the wardrobes of literature," says a quaint writer, "whence men properly informed, might bring forth something for ornament, much for curiosity, and more for use." The Ambrosian Library at Leyden, founded by Cardinal Boromeo, is said to contain a great amount of literary curiosities: among others, a series of letters addressed by Lucretia Borgia to the Cardinal, at the end of which are to be seen some lines written by him which breathe the spirit of the purest Platonism, notwithstanding, in one of these curious specimens of Belles Lettres, was found a lock of beautiful fair hair enveloped; presenting a phenomenon, as interesting as it is rare, among the musty tomes of an ancient public library. AMERICAN LITERARY ANNOUNCE- | remedies, embraced in the class of anti- nity of again reminding the trade generally of the claims of this beautiful Pictorial series, published by this enterprising firm. They have also in press, Dr. Lever's new work, "Continental Gossipings,” in one vol. 8vo, now ready. Also, Mrs. Ellis's new work, "The Daughters of Britain," announced in os former number. D. APPLETON & CO. have just issued the second volume of their Pictorial History of Napoleon. This concluding volume is even superior in its mechanical execution to its predecessor. The plates are highly interesting, especially those which refer to the period of the Emperor's exile at St. Helena, his premature demise, and the melancholy magnificence of his recent exhumation and reinterment in the HosJ. & H. G. LANGLEY have just pub-pice des Invalides. We take this opportu lished a New System of Materia Medica, entitled, "A Therapeutical Arrangement of the Materia Medica, or the Materia Medica arranged upon physiological principles, and in the order of the general Practical value which Remedial Agents hold, under their several denominations, and in conformity with the physiological doctrines set forth in the Medical and Physiological Commentaries,'" by Martyn Paine, M. D. A. M., author of the "Cominentaries," and of "Letters on the Cholera Asphyxia of New York," Professor of the Institutes of Medicine and Materia Medica in the University of New York, &c., &c. This work abounds with that kind of information which has been so long needed, and the author will doubt less receive the thanks of the profession, for the efficient and important service he has rendered it by the present publication. Its main purposes, as we learn from the preface, are as follows: To arrange the Materia Medica upon intelligible, physiological, and therapeutical principles. To indicate the relative therapeutic value of the various articles under their different depominations, by arranging them in the or The continuation of Captain Marryat's "Masterman Ready" They have just published "Handy Andy," by Samuel Lover, No. 1, with plates. "Our Mess," by the author of "Harry Lorrequer," No. 1. Roscoe's Life of Leonardo de Medici, with memoir of the author and plate, &c., one vol. 12mo, &c., &c. E. FRENCH, of this city, has just issued a neatly printed volume under the title of "Sketches of New England, or Memories of the Country." A portion of these papers originally appeared in the pages of the Knickerbocker, where they elicited considerable praise, and the result has been their reproduction in their present elegant form, including many hitherto unpublished pieces. The author preserves his incognito, it being his first essay in the ars scribendi; but although this device has been sanctioned by many great names, we think its adoption in the present case needless, as there is a terseness and freshness of style about these sketches that will render them sufficiently attractive to secure for them a passport to popularity. We take pleasure in announcing a new work by Dr. Samuel Forry of this city, on "The Climate of the United States and its Endemic Influences." This volume exhibits a connected view of the leading phenomena of our climate, both physical and medical, thus supplying a void both in our general and medical literature. It is embellished with two copperplate engravings, illustrative of the laws of temperature throughout the United States. As this work comprises a condensation of al! the author's observations on the subject of climate, which have already stood the test of criticism both in this country and in Europe, any further commendation on our part would be supererogatory. Suffice it to say, that no man who aims at keeping pace with the progress of general science, can be without this interesting and highly useful production. (J. & H. G. Langley, publishers.) ! A new religious periodical has just been commenced in this city under the auspices and sanction of the leading members of the Baptist denomination, entitled "The Baptist Memorial, and Monthly Chronicle, devoted to the history and biography, the statistics and literature of the denomination," &c. The first number has been issued, and presents all the attractions which the union of freshness and sterling ability can exhibit in such a work. It will doubtless be welcomed most cordially by the members of that section of the reli gious world whose interests it is especially designed to advance; and in wishing the enterprise, what it assuredly deserves, the largest success, we are only discharging a duty which we owe to the cause of religion, morality, and virtue, throughout the world. (Publication office at the American and Foreign Bible Society's Rooms, 12 Chambers street.) POETICAL WORKS OF STIRLING.-We learn that Mr. Hooker, of Philadelphia, has in press a complete edition of the Po etical Works of John Stirling, the “Archæus" of Blackwood's Magazine, and one of the best of the younger class of contemporary British poets. "The Sexton's Daughter," by Stirling, is one of the finest compositions of the present century, and Professor Wilson places some of his other works on a footing with the best of Wordsworth's and Coleridge's. The present edition will contain a preface and sketch of the author, by Rev. R. W. Griswold. E. DUNIGAN, of this city, has in course of publication a new and very attractive series of Juveniles, entitled "The Little Boy's and Girl's Library," edited by Mrs. Sarah J. Hale. The entire collection will form twelve little volumes, each of which is embellished by eight finely engraved plates. Two editions are issued, one with the illustrations plain, and the other brilliantly colored. There is positively great | ENGLISH LITERARY ANNOUNCEtaste displayed in the production of these new juveniles; they do equal credit to the nice discrimination of the amiable editor and the liberality of the publisher; they will unquestionably secure a preference over most previous publications for the nursery. DAYTON & NEWMAN have, we unde stand, made arrangements to publish shortly the following-a new and revised edition of Smith's Geography and Atlas. Also, Smith's new Arithmetic, 12mo. The Great Awakening; a history of the revival of religion in the time of Edwards and Whitefield, &c. By Rev. Joseph Tracey. 1 vol. 8vo. Second edition. MENTS. It is One of the most beautifully embellished works of the present season, is unques tionably a volume of Poems by Charles Swain of Manchester, engraver, a poet al together unknown until presented to the world in the pages of Blackwood called "The Mind," and is beautifully il lustrated, in the manner of Rogers' Italy and Byron's Childe Harold, with exquisite vignettes. Swain is, in every respect, a very remarkable man. Murray has already disposed of, we understand. 5000 copies of his superb edition of "Childe Harold." The history of the new Portrait of Lord Byron which accomSaunders' School Reader, part 4, uni-panies the work is curious and interesting. form with the rest of the series. JOHN S. TAYLOR & CO. announce as in press, an American edition of the new work recently published in England from the French of Gaussen, entitled "Theopneusty, or the Plenary Inspiration of the Bible," to be edited by Rev. E. N. Kirk. It was painted, we learn, by Phillips, prior to the Poet's marriage. In 1816, when he quitted England, he had this portrait nailed up in a case, with express directions in his own writing, that it should not on any account be opened until his daughter, Ada, W. H. COLYER has just issued "the given to her, if she would accept of it; but came of age, when it was to be formally cheapest of the cheap editions" of Charles if (as he expected) the influence of her O'Malley, by the author of "Harry Lor- mother, or her own lack of affection, requer," 2 vols. in one. This work is should cause her to decline it, it was then second to none but the Pickwick Papers to be burned in the presence of certain of Boz, for its sparkling humor and in-persons whom he named. It is scarcely tense interest, and every one may now possess himself of a copy, from the splendidly embellished work by Carey & Hart, to the present compact edition at one sixth of its price. necessary to add that Ada Byron, now the Countess of Lovelace, did not hesitate to accept the offering, and the portrait adorns the drawing-room of the family mansion at Oakham Park, Surrey. The Prize of Eighty Guineas, offered by the Society of the Abergavenny Cymrei gyddion, at the Eisteddvod of 1840, for the best Essay on the influence of Welsh Tradition upon the Literature of Germany, France, and Scandinavia, has lately been awarded to a German competitor, Herr Albert Schulz. His work is pronounced to be a most elaborate and learned production, and one which opens a new and curious avenue into romantic literature. It has been well translated and published in London. In the new number of the London Quarterly Review, of the eight articles, no less than four are devoted to the review of American Publications; these are, Stephens' Central America, Irving's Margaret Davidson, Robinson's Researches in Palestine, and the Letters of John Adams to his wife, &c. The opinions of the reviewer are of a highly complimentary char- | acter, especially in the instances of Stephens' and Dr. Robinson's Travels. Another highly interesting and important article comprises the whole question of Copyright, with notices of the most prominent pamphlets that have appeared on that subject. The question of International Copyright is reserved for future discussion in a subsequent number. Marryat is publishing a continuation of his Masterman Ready-the best Robinson Crusoeish book of the day. Mrs. Hofland's new work for children is called the Godmother's Tales. Rev. William Jay, of Bath, a wellknown divine, has commenced the publication of a new and cheap collection of his works, which will command a great sale. The two-penny issue of Scott's Novels has commenced! England in the Nineteenth Century, to appear in monthly parts, like Hall's Ireland, has just been commenced. Cyrus Redding, sub-editor of the New Monthly, under Thomas Campbell, is the editor, with a corps of assistants. Captain Barclay, of Ury, the famous pedestrian, who visited our country in 1840-1, has a volume in the press called "An Agricultural Tour in the United States and Upper Canada." Murray announces a reprint of George Bancroft's History of the United States, (tenth edition,) in 3 vols., with portraits. A Ride on Horseback, through France and Switzerland, to Florence, by a Lady, is on Murray's sheet of forthcoming works! Hood's Comic Annual is a dead failure this year. It contains little beyond what had already appeared in the New Monthly Magazine, which he now conducts. Theodore Hook's Fathers and Sons has appeared in the regular 3 volume fashion, with a very insufficient memoir. "Frederick the Great and his Times," which is much spoken of as Campbell's, is not his. It is written by Thobert, editor of the Forget-me-Not-and Tom Campbell has merely sold his name and a very dull preface. Mrs. Gore has a Novel-The Man of Fortune; Mrs. A. T.Thompson, (the best friend poor L. E. L. ever had.) an historical romance called Anne Boleyn; and the Authoress of Temptation, or a Wife's Perils, another new Novel, entitled "The School for Wives." Madame de Sevigné and her contemporaries will probably be amusing, and the first volume of Madame d'Arblay's Journal and Letters (to be complete in 6 volumes) is out. The authoress of Evelina and Cecilia was no common woman, and saw and observed much. Allan Cunningham is writing a 3 volume Life of Sir David Wilkie, his tours in France, the Netherlands, Italy, Spain, Germany, Turkey, the Holy Land, and Egypt; with his select correspondence, and remarks on art and artists. Miss Louisa Costello is publishing her pilgrimage to Auvergne, from Picardy to Le Velay. The second series of Howitt's Visits to Remarkable Places is as good as the first, which seldom happens. It gives a personal account of Grace Darling, the heroine of Farn Islands Light-House, to whom, for the honor of the sex, Queen Victoria should have given a pension for life. Bentley and Ainsworth are at drawn daggers. The new number of the Miscellany is capital. Ainsworth's Magazine will not appear until February. It will include a new work by Ainsworth, to be continued monthly, entitled "Windsor Castle," with plates. Benson Hill has become editor of the Monthly Magazine. His first number is a good one. Mr. Menzies conducts the new aristocratical periodical called the St. James Magazine, and Mr. Capper presides over the Australian and New Zealand Magazine, a new speculation. A new series of Punch was commenced on Saturday. Hope's British Monthly Magazine is another new venture. Bagster, of Paternoster Row, proposes to publish shortly, a complete Polyglot Bible, embracing all such languages of the Holy Scriptures, (whether entire or fragmentary,) with such critical addenda, &c., as may be considered necessary for a Polyglot Bible of the most perfect description, including all that is available in the four celebrated editions,-the Complutensian Polyglot, produced under the patronage and at the expense of Cardinal Ximenes, in 6 vols. folio, 1514-17; the Paris Polyglot by Le Jaye, in 10 vols. folio, 1645; the Antwerp Polyglot, at the charge of Philip II. of Spain, & vols. folio, 156972; and the London Polyglot of Brian Walton, published by subscription, in 6 vols. folio, 1653-7. Thus the researches and erudition of centuries will be laid under contribution for enriching this elabo rate work. Firman Didot, the celebrated publishers in Paris. have, we observe, recently opened a depot in London Amongst other important works, they advertise a new "Royal Dictionary," English and French and French and English, by Professors Fleming and Tibbins, in two large volumes imperial 4to. |