The total movement of each description of articles on all the canals of the State from 1836 to 1849, inclusive, is exhibited : Products of the forest. Agriculture. Manufact's. Merchnd'e. Oth. articles. Total. 755,252 225,747 88,610 127,895 113,103 2,310,807 618,741 208,043 81,735 94,777 168,000 1,171.296 1838. 1839. 186,879 1,333,011 257,826 1,485,713 1840*. 1841. 1842... 1843. 1844. 1845.. 1846.. 1847.. 1848.. 587,647 393,780 645,548 391,905 504,597 401,276 687,184 455,797 864,373 509,387 881,774 555,160 916,976 814,258 1,087,714 1,092,946 1,086,880 913,824 100,367 112,021 223,231 1,417,046 141,054 215,258 1,521,661 98,968 101,446 130,644 1,236,931 124,277 119,209 126,972 1,513,439 144,245 141,930 156,651 1,816,586 160,638 151,450 228,543 1,977,565 149,006 169,799 218,623 2,268,662 176,448 224,890 287,812 2,869,810 202,781 261,458 331,287 2,796,230 203,990 255,455 810,088 2,894,732 11,074,296 7,503,661 1,872,655 2,157,960 2,954,917 25,563,489 535,976 133,761 154,140 211,066 1,825,964 8.44 11.56 100.00 791,021 43.32 580,620 29.35 345,701 7.33 100,509 111,750 162,347 1,300,927 237,140 2,305,289 66 1843 to 1849 947,120 765,947 165,912 189,170 The following is a table of the tonnage of each article transported on all the canals in each year from 1845 to 1849, inclusive :* * For a similar table for each year from 1835 to 1843, see Merchants' Magazine, vol. xi., page 137. Grand total... ... 1,977,565 2,268,662 2,869,810 2,796,230 2,894,732 The following table gives the value of the total movements of articles on all the canals from 1836 to 1849, inclusive: Products of the forest. Agriculture. Manufactures. Merchandise. Other articles. 7,282,438 18,619,834 7,380,576 31,973,864 2,377,631 6,146,716 16,201,331 6,305,485 23,935,990 3,134,766 6,338,063 19,390,714 5,915,856 31,594,692 2,507,234 7,762,553 17,056,911 5,989,576 39,493,764 3,096,960 Total. 67,634,343 55,809,287 65,746,595 78,899,764 Years. 1840.... 1841.. 1842. 1843. 1844. 1845. 1846. 1847. 1848. 1849. Product of the forests. 4,609,035 11,841,103 Agriculture. Manufactures. Merchandise. Other articles. Total. 66,403,892 92,202,929 60,016,608 76,276,909 90,921,152 2,903,178 5,957,219 16,987,843 4,435,289 30,042,153 2,594,104 6,653,080 20,588,118 4,925,545 40,651,798 3,458,368 7,422,737 23,379,643 6,151,806 49,224,099 4,742,867 6,472,237 29,479,488 6,994,932 52,542,336 5,140,866 100,629,859 6,422,409 35,820.586 7,015,311 62,004,488 4,349,315 115,612,109 7,546,063 55,757,166 8,072,059 74,753,638 5,434,502 151,563,428 7,219,350 42,850,086 7,433,957 76,945,463 5,637,301 140,086,157 8,671,057 46,408,092 7,183,930 77,094,282 5,374,924 144,732,285 Total..... 100,344,060 383,086,006 88,030,991 676,027,830 53,546,395 1,301,035,282 Yearly average.. 66 An. av., '36 to '42. '43 to '49. Product of Total. the forest. Agriculture. Manufact'res. Merchandise. Oth. articles. The value of each article which came to the Hudson River on the canals for the last five years is expressed in the following table: 32,477 135,261 320,364 164,533 78,007 17,579,581 22,286,905 41,350,486 25,434,370 24,801,736 5,177 34,495 35,498 11,356 80,508 313,092 150,735 43,127 29,240 237,007 Total 2,319,983 Grand total.. 3,559,658 3,770,476 3,127,080 2,210,623 35,452,301 51,105,256 73,092,414 50,883,907 52,375,521 We give below, in conclusion, two statements showing the tonnage and value of property and merchandise going to, and coming from, other States in each year, from 1836 to 1849, inclusive, as follows: STATEMENT OF THE TONS AND VALUE OF MERCHANDISE GOING TO OTHER STATES BY WAY OF BUFFALO AND OSWEGO IN EACH YEAR, FROM 1836 тo 1849, BOTH INCLUSIVE. CLUSIVE. Years. STATEMENT OF THE VALUE OF PROPERTY COMING FROM, AND MERCHANDISE GOING TO, OTHER STATES BY WAY OF BUFFALO, BLACK ROCK, AND OSWEGO FROM 1836 TO 1849, BOTH IN 1836. $5,496,816 $9,723,250 Total. $15,217,066 FREEMAN HUNT, Esq., Editor of the Merchants' Magazine, etc. SIR:-In my last letter I criticised at some length Mr. Kellogg's fandamental position that money possesses no value, and, I trust, conclusively refuted it. With this main pillar must of necessity fall the whole fabric of his system. Still, some parts of it seem to require a more detailed exposure. "The power of money to accumulate value by interest" is ascribed by Mr. Kellogg (with his usual felicitous confusion of cause and effect) to the laws which make it a "public tender," and allow interest to be paid for it. If money possess no value, it is certainly not worth paying interest for, and we must look to extraneous causes to ascertain why interest is paid. So far Mr. Kellogg is consistent; but unluckily, his conclusions are as utterly at war with facts as his premises. Do the laws which constitute paper-money a "legal tender" make it worth paying interest for? How was it with continental money and French assignats? The law can indeed make worthless dollars a tender for debts of dollars; but can it compel a man to exchange a barrel of flour for a hundred, or a house for a hundred thousand of them? Still less, then, can it make men pay interest for that which is intrinsically and commercially worthless. But the law never attempts it. It compels no man to pay in any case a higher rate of interest than he can induce the lender to accept; but on the contrary it is continually interposing to mode rate the high rates which individuals are willing to receive and to pay. Having thus shortly disposed of Mr. Kellogg's theory of interest, let us inquire into the true theory. It is a very simple affair, when divested of irrelevant matter. If money possesses value, may be exchanged for value, and so exchanged as to increase value, it is evidently as well worth paying rent for as a farm, or a house, or a machine, for which it may be exchanged. Mr. Kellogg asserts that money is unproductive; and he is joined in this view by F. G. S., and even by G. B. But this is a very unphilosophical way of viewing it. True, money does not grow-neither does a cotton-mill; nor does it literally produce or manufacture-neither does a house; nor does it provide a shelter for its owner-neither does a steam-engine. Yet all these things render, in different ways, important services to men, and in return for those, men are willing to pay rent for them. Are the services of money less important? Is it nothing to serve as a valuable, indestructible, portable, Allow me to correct an important misprint in my last letter. About the middle of page 522 of your May number, occurs this sentence :-"Simply because he has not one motive against it," &c. It should read-"not one motive for doing it." Three lines below, the word "ever" should read "over." |