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3.The History of the Uniled States of America, from the Discovery of the Con

tinent to the Close of the Session of the Thirty fifth Congress. By J. H. Patron, A. M. 1 vol., royal 8vo., pp. 800. New York: D. Appleton & Co.

Elaborate bistories of the United States have been ably written ; compends or school histories, and well adapted to the place they are designed to fill, are numerous. Between these compends and the works extending to six or more volumes, there is room, the author believes, as well as necessity, for a history that shall be sufficiently elaborate to trace the direct influences that have a power in moulding the character of the nation and its institutions, moral and political. Interspersed will be found superb portraits of such men as “ 'The Chief," Washington, Patrick Henry, Thos. Jefferson, Alex. Hamilton, Calhoun, Webster, and many others. In the main, it will be fourd a succinct, well written, and comprehensive history of our country, and separate from its party bias, is deserving of all praise.

4.-Doctor Oldham at Greystones, and his Talk There. 12mo., pp. 342. New

York : D. Appleton & Co. We have in this book the table-talk of a garrulous personage, styling himsell Dr. Oldbam, embracing in its range almost everything-cosmogony, theology, woman's rights, housewifery, etc. The doctor's is one of those sapient minds which finds a tale in almost everything, and though at times somewbat tedious, is by no means given to false reasoning and extravagant statement ; on the contrary, things which at first glance seem to be mere facts, dead and barren, under his amusing yet wise treatment become living, seminal, and fruitful, and exbibit Dr. Oldham, not only as an amusing critic and ingenious reasoner, but a keen observer of human nature, who turns the minutest things to profit.

5.- The Marble Faun; or the Romance of Monte Beni. By NATHANIEL Haw

THORNE, author of " The Scarlet Letter," etc., etc. 2 vols , 12mo. Boston : Ticknor & Fields.

The author of this romance has been favorably known to the public for some time. The materials for the work were gathered in Italy during a long sojourn there, and appear to partake largely of the picturesqueness, mystery, and gloomy shadows so long hanging over that sunny land. Its style is marked by barmony and beauty of expression, if we jndge from the first volume; but, as we nerer hare receiied the second, the book leaves on our mind the impression of incompleteness that renders us incapable of judging fully of its merits.

6.- Benton's Abridgement of the Debates in Congress from 1789 10 1856. Vol.

xiii., royal 8vo., pp. 803. New York: D. Appleton & Co.

The present volume of this very valuable digest comprises the debates between December, 1835, and March, 1839. Although the mind which planned and presided over the compilation of the earlier portions of the work has been removed from its supervision, the later issues exbibit the same evidences of careful preparation. From the space covered by the present volume, it may be inferred that the work will soon be brought to a termination. 7.- The Barefooted Maiden. A Tale by BERTHOLD AUERBACH. Trapslated from the German by Eliza BUCKMINSTER LEE. Illustrated. 12mo., pp. 268. Bostop : James Müproe & Co.

Is one of the most exquisitely written little sketches of every-day life, embodying simplicity, morality, and sentiment with the fanciful, that we have read for a long time, and though intended for children and youth, will deeply interest even older heads, filled, as it is, with the glow of feeling, and sparkling as a dew drop.

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CONTENTS OF NO. VI., VOL. XLII.

ARTICLES.

... 659

Авт.

PAGE I. CHANGE IN THE FRENCI COMMERCIAL POLICY........... II. MICHIGAN: ITS PROGRESS, MINES, AND MANUFACTURES.............. .... 671 III. MONEY, THE CREDIT SYSTEM, AND PAYMENTS...

684

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

IV. COMMERCIAL AND INDUSTRIAL CITIES OF THE UNITED STATES. NO. LXXVI.

FORT WAYNE, INDIANA. Situation of Fort Wayne-Early Explorers-Summit Level-Water Shed-Extent of Navigation-Confluence of Rivers-First Sale-Government Survey-Canals-Craders--Railroads - Population-Valuation-Fur Trade-Origin and Extent-American Fur Company - Wheat and Flour-Wheat ShipmentsMills -Stores-Dry Goods---Hardware-Drugs-Clothing Manufacture-Employment of Women-Value Made-Barrels - Building Materials—Boots and Shoeg — Woolen Mill-Wool on Shares-Local Goods Used for Clothing--Effect on Eastern Traffic-Future of Fort Wayne. ......

.. 697

JOURNAL OF MERCANTILE LAW.

Libel on a Bill of Ladin

.. 703

COMMERCIAL CHRONICLE AND REVIE W.

General Abundance of Capital-No Speculation-Large Means from the South-Change in

Business with the West -- Manufactures - Local Resources-- Effect on Trade-Cotton-Exports-Supply of Bills-Discount Movement in England-Operations of the Discount Houses

Deposits and Loans-Panic of 1857- Rule of the Bank-Government Permit-Dissatisfaction - Withdrawal of Notes-Rise in Interest-Uneasiness-Return of the Notes-Effect on Cotton-Distrust of Bills-Shipments of Specie-Return of Ease-Large Crop-Elements of a Large Demand-American Interests - Rates of Money-Sterling Bills-Specio Movement-Chinge in California Bills - Pony Express-Assay-Office--Midt-New Discoveries of Silver-Etfect on the Market-Gold Necessarily Exported-Money of Itself of no ValueOnly Wanted for Circulation --Seeks the Richest Country Returns when Business Revives -For Circulation-Imports.......................................................... 705-712 VOL. XLII.-NO. VI.

42

... 721

.. 727

7785

286 786

• 787

Tolls..

PAGE JOURNAL OF BANKING, CURRENCY, AND FINANCE Coinage of the different Countries of the World in 1849 and 1859.- Massachusetts State Debt... 713 City Weekly Bank Keturns-Banks of New York, Boston, Philadelphia, New Orleans, Pittsburg, St. Louis, Providence,

714 Debts and Emigration in Canada.......

716 New York Valuations.--Usury in Louisiana

717 New York State Tax...

718 The Banks of Canada.- Massachusetts Bank Security .......

719 Banks of Pennsylvania.-Philadelphia Bank Dividends.-Wear and Tear of Coins....

720 Property Improved and Unimproved in New York.- Imports and Duties ..... British National Wealth .....

722 Taxable Valuation and Tax of Cincinnati.- Australian Gold Coinage..

STATISTICS OF TRADE AND COMMERCE. United States Commerce-Debits and Credits ........................

724 Import Trade of New York ...........

725 Manilla Hemp .......................... Exports of Domestic Cottons from New York to Foreign Ports....

795 Exports of Domestic Goods and Manufactures from Great Britain...

728 Foreign Commerce of American Cities, 1859.-Commerce of New Orleans..

730 Grain and Seed Export of Rostock....

730 Manilla Cheroots. - Export Trude of Odessa for four years..........................

731 The Scorch Pig Iron Trade. - Trade of Milwaukee....

732 Exports from Manilla to the United States.--Import Trade of Boston.

733 Deal Trade of St. John, N. B.-Tobacco in Virginia. -New York Auction Duties.........

NAUTICAL INTELLIGENCE. Lights in the Gulf of Finland. - Fixed Light on Isla Mouro, Coast of Spain........... New Lighthouse on the Lagskar Rocks, Gulf of Botlinia.... Beacon on Hogsty Reef, Bahama Islands.- Montauk Point, Long Island...... Alteration of Light at Crookhaven, Ire and.- Fixed Light on Grindstone Island, Bay of Fundy New Light at Cape of Good Hope. - Rock off St. Thomas Harbor, St. Thomas Island .. Lights on the South Coast of Australia.......

... 733 POSTAL DEPARTMENT. Dead-letter Office..........

739 COMMERCIAL REGULATIONS. Changes in New York Cap

740 International Signals.

741 The East River........

.. 742 JOURNAL OF INSURANCE. . Increase of Life Insurance.. Marine Losses for April, 1860,-English Life Insurance Companies ....... Destruction of Property by Fire........

RAIL ROAD, CANAL, AND STEAM BOAT STATISTICS. New York Canals .......... Railroads of Connecticut. - St. Mary's Canal......

746 Spanish Railways .. Operations of the Railways of Massachusetts from 1842 to 1859...

748 British Railroads ...

749 JOURNAL OF MINING, MANUFACTURES, AND ART. Labor and Wages in New York..... New Steam-Engine.-The Manufacture of Nails.-Indiana Coal .. Protection of Brickwork. --Milk of Wax.-Coal in Chicago

732 Colors in Fresco. - Lime.--Coal in France ....

753 Silver in Norway.-Electro-Magnetism applied to Weaving..., Zeiodelite.---To Gild on Glass..

. 756 STATISTICS OF AGRICULTURE, &c. Tea Plant.... Live Cattle Weighed by Measure.- Aeelimatization of Animals.-Tile Drains......:

759 Crops of Ireland.- Plant Trees....

760 Corn Crop of the West......

.. 761 STATISTICS OF POPULATION, &c. Sardinia as she is..... Migration from, and Po

762 The Coolie Trado .....

763 The Cartmen of New York ....

MERCANTILE MISCELLANIES.
Mercantile Honor......
The Sources of Perfume.-Borrowing..

766-767 Long Credits.-- Industry and Economy..

763-769 Real Estate in Richmond --Parisian Omnibus System. .

: :..

770-771

........... Conscientiousness. --Customs of Trade-Bird Trade of New York --Rise Early.

7T2-773 The Chinese as Brandy Drinkers.-- African Slave Trade.-Lobster Fishing......

.... 774 TIIE BOOK TRADE. Notices of new Books or new Editions....

..775-776

745

747

701

757

765

II UNT'S

MERCHANTS' MAGAZINE

AND

COMMERCIAL REVIEW.

JUNE, 1860.

Art. 1.–CHANGE IN THE FRENCH COMMERCIAL POLICY.

The new direction given to affairs in France by the present government has opened before that nation a career of material prosperity which, with its vast natural resources, governed by the genius and energy of its people, may enable it to outrival any of its competitors in the race of industry. That England has hitherto maintained the foremost rank as a commercial and manufacturing nation, has been due less to her great natural advantages, her accumulation of means and the inventive genius of her people, than to the fact that her continental rivals have spent their time and money in war rather than in industry, and to the policy of the governments which have sought by protection and monopoly to build up and sustain class interests around the throne at the expense of the working masses. The Emperor Napoleon was the first to attack the formidable body of monopolists who based their usurpation on the prejudices of the people against foreign goods, and who drew large profits from consumers by compelling the government to continue the prohibitive system. The Emperor broke away from the financiers when he appealed to the people so successfully for loans, and he has perseveringly carried out his intentions of freeing the people from the clutches of the monopolists. The prohibitive policy required the people to consume little, and that little to be of home production and dearly paid for. The new policy is to enable them to consume much larger quantities, to enjoy more, and, as a consequence, that more shall be produced. In short, that labor shall enjoy more of the fruits of industry, and capital less. The new policy has been but shadowed forth in the recent official report of the French government. The budget for 1861 was given by the minister as follows :

1860.

1861. Expenses.......

1,829,911,778 f. 1,844,188,685 f. Receipts.....

1,825,854,379 1,845,783,670

.

The direct taxes and the domains show an increase of receipts. The most important changes are made in the duties under the new laws proposed by the government, reducing the duties on certain articles. These reductions are estimated as follows:Wool and cotton....... 25,409,000 f., Sugar.....

53,243,000 f. Coffee. ............... 6,442,000 Navigation.....

3,500,000

88,594,000 f. This reduction, it is supposed, will be compensated to the extent of 17,702,000 f., by increased consumption of the articles named, by 6,777,000 f. in consequence of the treaty with England, by 24,000,000 1. increased tax upon alcohol, making 48,475,000 f., and showing a net loss of 40,119,000 f. In proposing these reductions of duties to the Legislative Assembly, an exposé des motifs was read, setting forth the reasons that have guided the government. As this interesting paper contains much valuable information upon the use of and tax upon sugar, as well as the general operation of taxes upon consumption, we lay ič before our readers. A singular state of things presents itself in relation to the operation of taxes and drawbacks. Thus, it appears that in France refined sugar only is used, and the various taxes and protections have so loaded this article with cost as very much to restrain its use, so that 11 lbs. per bead only is used in France, against 30 lbs. per head in the United States. The production of sugar, colonial and beet root, is 244,000 tons. All this passes through 40 retineries, and 65,000 tons is re-exported from France to foreign markets at an expense of 40,000,000 f., paid as drawbacks to the refineries by the government. Thus the sugar is made so dear that the French cannot use it themselves, but they must pay the refineries to send it out of the country. The prohibition of foreign refined sugar has therefore not increased the home market. The government now propose to throw off all restriction and let Frenchmen eat their own sugar at its proper value. Instead of paying a drawback to send 65,000 tons of sugar out of France, it is hoped so to increase the home market by low prices that more than all the present production shall be consumed at home. In this connection, on the occasion of the lately made commercial treaty between France and England, a very valuable parliamentary return was issued, showing the rates of duty chargeable in 1820 and 1860, respectively, on sugar, tea, coffee, brandy, rum, French and other wines, and malt, with the amount of duty paid on each article ; and the average consumption per head of each, in the years ending January 5, 1820, and January 1, 1860. It appears from this return, that the consumption of sugar per head has been doubled by the reduction of the duty, that of tea rather more than doubled, and that of coffee more than trebled; but on the other articles the increase has been very trifling, and the consumption per head of some has actually diminished. The consumption of brandy increased only to the extent of 0.002 of a gallon per head, and that of rum diminished 0.003 of a gallon per head. The consumption of French wines has doubled, but is still only 0.02 of a gallon per head; whilst that of Cape wines has increased from 0.025 to 0.027 of a gallon per head; and that of Spanish, Portuguese, Rhenish, and Italian wines has diminished from 0.19 to 0.18 of a gallon per head. The consumption of malt has increased from 1.25 to 1.44

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