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$5,000,000, which would amply make good the deficiency in its expenditures. The new administration, however, entered upon a new system. An expensive extra session was called, in order to devise ways and means of saving money, and increasing the revenue. Their first act was to take the revenues from the public lands out of the Treasury and give it to the States. This bill the new chief magistrate, Mr. Tyler, signed on condition that the tariff should not be raised above the maximum of the compromise act. Congress then imposed 20 per cent. duty on all articles before free, which were collected after September, 1841. They then created a national debt of $12,000,000, and adjourned. Congress again met as usual in December, and have now been in session six months, having done absolutely nothing, with the exception of authorizing the emission of $5,000,000 of Treasury notes, and increasing the stock debt of the extra session to $17,000,000. In January a reduction of the duties according to the compromise act took place, and the decrease of the revenue was such that the President addressed a special message to Congress recommending the repeal of that land bill which he had signed six months before. Congress, however, has not taken any action upon the matter.

Three tariff schemes have been proposed to the House, one by the secretary of the treasury, one by the committee on manufactures, and one by the committee of ways and means. All these plans propose to carry the rate of duties back to those of 1832, in violation of the faith pledged to the people by the spirit of that act. The object is ostensibly revenue; but the rates proposed are so high, as to become protective, and to injure the revenue. If these rates should be adopted, the condition on which the land bill was passed renders that measure inoperative, and on this point the President and Congress are directly at issue; and no action can take place until the iniquitous design of depriving the treasury of a part of its revenue for the benefit of speculators is relinquished. This could be comparatively of but small importance but for the peculiar situation of the tariff laws. The compromise act provides that "after June 30th, 1842, a duty of not higher than 20 per cent.

may be levied upon any one article, in a manner to be prescribed by law." Now, up to the moment when the revenue laws are about to expire, no provision has been made for their renewal. A bill was proposed by one faction to extend the operation of the compromise act up to August 1st, to give time for the passage of a law. The bill, however, is hampered with a proviso, that the condition on which the land bill was passed shall be violated, and the proceeds be unconditionally divided. This it is supposed will be vetoed, and the revenue laws cease to exist for a time, leaving all imports free of duty and the government without income. The singular pertinacity with which the distribution act is adhered to, is the more remarkable that if the distribution takes place, the federal government must go into the market and borrow the money at a high rate of interest in order to make the payment due on the first of July, the proceeds of the lands having thus far been absorbed in the current expenditures of the government. Many of the States have refused to receive their portion of the land. This is particularly the case in Virginia, which State, although heavily involved, refuses to become a party to such disgraceful plunder. New Hampshire has also adhered to her ancient faith, and instructed her Senators to advocate the immediate and unconditional repeal of both the land bill and the bankrupt acts. These events have of course had a powerful effect upon business; the contraction of the banks in the interior has removed those artificial springs of trade that formerly produced an unhealthy activity; and the real business of the country has been paralysed by events growing out of the singular fact that both our own country and Great Britain, as well as Russia, are making great changes in the laws relating to their foreign commerce. The consequence has been, that while merchants depending upon their remittances from the interior have been severely cramped and unable to meet their liabilities, to a great extent, causing numerous failures, money has accumulated in the banks and the hands of the capitalists, without experiencing any demand for new mercantile enterprises. This fact, notwithstanding the discredit that has of late overtaken paper securities, has caused the prices of sound stocks to improve

and the new New York City 7 per cents. have been held at 10 per cent. premium, and 4 per cent. offered for them. The State 7 per cents. sell at 102, and the 6 per cents. at 95; some small sales of the new United States government stock have been made at par, perhaps to the extent of $500,000; but under the present system of finance, adopted by the State of New York, her stocks are preferable. American credit abroad has not improved; on the contrary, the prejudice on London 'change against United States securities seems rather to increase. By one of the last packets the heads of two leading London stock houses arrived in New York, to look after the wreck of old property. From the tone of conversation reported

by these gentlemen, a long time must elapse before American credit can be restored, even if existing liabilities are met. This may be considered a favorable circumstance, rather than otherwise. The more so when we consider the enormous load of debt with which the produce of the soil is already burdened. Some estimate of the burden imposed upon the country by the action of its foreign debt may be formed by inspecting the following table of the debts of the several sections of the Union, in connection with the exports of their produce. The produce of the sea and the manufactures belong mostly to the New England section alone, where but little debt is due. The result is, however, as follows:

DEBTS OF THE DIFFERENT SECTIONS OF THE UNION, WITH THE EXPORT OF THE PRODUCE

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All the State stocks are not owned abroad, therefore all the interest is not remitted; but other stocks, as company, city, and bank, are owned abroad in sufficient quantities to make the annual remittances for interest equal to that here given. We have the fact, that near 10 per cent. of our whole exports is for interest on money borrowed. One-third part of the exports of the western States is for money borrowed and lost; no equivalent now exists for it. In the New England section, where the debt is small, no drawback exists upon its industry. In fact the interest on that debt is paid by the western States in the shape of toll upon their produce over the Western Rail Road to Boston market. Had there been no interruption to this contraction of debt probably our whole exports of agricultural produce, amounting in 1842 to $18,593,619, would have been required to pay interest in England. Ohio and Illinois would have become provinces of the British empire. Their broad fields would have become but a kitchen garden for the supply of London, and their hardy yeomen but the bondsmen of British bankers. Instead, then, of fearing that England will not

$10,875,712

8,892,132

$113,895,634

lend us any more money, we have to dread that they will renew their loans.

In the fall of 1839, the period to which we alluded in the first part of this article, as that when American stocks became unavailable, a leading London house in one of its circulars proposed that the federal government should guarantee the debts of the States collectively, by pledge of the public lands or otherwise. Shortly after this a plan for funding the State debts in a national stock, was published in a New York paper. In the Senate of the United States, however, Daniel Webster denied that any such assumption or guarantee could take place without infringing the constitution. At the extra session of Congress, a partner of the London house with which the proposition originated, was in attendance at Washington, accompanied by a number of other foreign bankers. These people submitted to Congress letters signed by upwards of sixty foreign houses as representatives of the holders of American bonds, soliciting the Congress to interfere and take care that its dependencies should fulfil their contracts. A proposition has now been brought forward in Congress to issue a

national 4 per ct. stock of $100,000,000, based on the proceeds of the public lands, to be issued in redemption of the State debts. This is undoubtedly the most dangerous proposition ever yet made. It is neither more nor less than an unconditional assumption of the State debts. If the government endorses $100,000,000, they must endorse the whole; by which process, not only will the unindebted States, as New Hampshire, Vermont, Rhode Island, Connecticut, New Jersey, Delaware, and North Carolina, be obliged to be taxed for the debts of Illinois and Pennsylvania; but a direct and increased tax must be levied in order to pay the

interest on the new stock. The revenue of the public lands for 1841 and 1842, will be short of $3,000,000. The Secretary of the Treasury estimates it for the future at $2,000,000 per annum. A stock of $40,000,000 bearing 4 per cent. interest, with one per cent. for a sinking fund, will require $5,000,000 per annum. After absorbing the whole revenue of the lands, therefore, $3,000,000 additional must be raised by taxation to pay the interest on this new stock,--this tax to come out of the pocket of a New Hampshire man to pay the debts of a speculator in Mississippi. Such proposals need no comment at our hands.

THE NEW BOOKS OF THE MONTH.

Lectures on Agricultural Chemistry and Geology. By J. J. W. JOHNSTON, M.A. and R.S.S., &c. New-York: Wiley & Putnam. 1642.

THE progress of the science of agriculture depends so intimately upon that of chemistry, that the improvements of the one are constantly following discoveries in the other. Within late years, however, the advancement of chemistry, particularly of that branch which relates to organic bodies, has been so rapid, that few have been found willing to turn aside from the exciting pursuit of investigation and discovery, for the purpose of comparing their results, and reducing them to practical application.

This has at last been done in an able manner by Prof. Liebig of Lessen, whose work has received, very properly, universal approbation. But although containing profound and original views, the work is hardly of that class which can strictly be called practical. To the professed chemist no difficulty can occur; but the practical agriculturalist will often find himself at a loss in following up a train of reasoning so foreign to his usual studies and pursuits.

These difficulties have been entirely removed in the valuable work of Prof. Johnston now before us. The subject is taken up and pursued in a most appropriate manner; the style is clear, simple, and entirely free from any unnecessary display of scientific refinement. Being addressed to a society of practical farmers, these lectures are exactly what is most called for at present, by those whose in

formation and employments do not allow them to make profitable use of a work presupposing a general knowledge of the principles of chemical science. The subject is gradually unfolded, and arranged so dexterously, that no branch of it is introduced to the reader before the way is cleared for it, and every needful explanation made. Prof. Johnson seems to have obtained that happy medium so rarely arrived at, in which so much of scientific knowledge is communicated as is necessary, and no more. Thus all incumbrances strictly foreign to the purpose are carefully avoided. But although practical in its character and free from pedantry, it is by no means an inaccurate or unscientific production. On the contrary, the professed chemist may find therein a very neat solution of some of the difficulties in Liebig's theory, as well as certain views original to the author.

The appendices containing suggestions for the application of manures, &c., are enriched by the results of the first year's experience, and in themselves present a mass of original and valuable information not to be obtained by consulting any other writer on the subject. These alone would give a character to the work, were the remainder as dull and useless and it isyaluable and entertaining.

An Exposition of the Thirty-Nine Articles of the Church of England, by GILBERT, Bishop of Serum. With an Appendix, containing the Augsburg Confession,

Creed of Pope Pius the IV., &c. Appleton & Co. New York: 1842.

THIS is the famous work of Bishop BURNET, so great a favorite with the divines of the Episcopal Church, on account of both the piety and learning it displays. It has become a standard religious authority with all who adopt the creed of the Church of England. The plainness with which it states its positions, the power of argument with which it defends them, and the wealth of learning brought to bear upon the elucidation of every difficult point of faith, justify the high estiImation in which it is held by those who would fortify their religious knowledge and faith. It is true, as it has sometimes been objected, that he often overloads his pages with erudition; and presupposes in the mind of his readers an extent of acquirement to which few have attained; but it will be found on closer inspection that most of this erudition has its use, and has been culled from the choicest gardens of theology. With the peculiar belief of Burnet, we may have little sympathy, but it would be idle to withhold from so great an intellect the praise which has been accorded it for more than a century. The advantages of the present edition, as stated in the editor's preface, are:

"Ist. That the learned author's text has been preserved with strict fidelity.

2d. The references to the Fathers, Councils, and other authorities, have been almost universally verified; and, in many instances, corrected and so enlarged as to render them easy of access to the student.

3d. A large number of Scripture references have been added. In different parts of this work, Bishop Burnet lays down propositions without giving the Scripture by which they may be proved. The editor has, however, added references in these and all other instances where they might be considered not merely additions, but also improvements.

4th. The Canons and decrees of Council and other documents of importance referred to have been given in the original, and from the most authentic sources-the places where they are to be found being specified,

5th. Copious Notes have been added, containing, besides other information, notices of the principal

piety. It has been too long and too well known to need remark at our hands. Let us observe, however, that the editor, the Rev. W. S. Dobson of Cambridge, urges its superiority to previous editions in the following particulars;

"First-Great care has been taken to correct the numerous errors in the references to the texts of scripture, which had crept in by reason of the re

peated editions through which this admirable Work has passed; and many references, as will be seen on turning to the Index of Texts, have been added.

Secondly-The Quotations in the Notes have been almost universally identified and the references to them adjoined.

Lastly-The principal Symbola, or Creeds of which the particular Articles have been cited by the Author, have been annexed; and wherever the original writers have given the Symbola in a scat

tered and disjointed manner, the detached parts

have been brought into a successive and connected point of view. These have been added in chronological order in the form of an Appendix."

A Descriptive and Historical Account of Hydraulic and other Machines for Raising Water, Ancient and Modern, with Observations on Various Subjects connected with the Mechanic Arts, including the Progressive Development of the Steam Engine; Descriptions of every variety of Bellows, Pistons and Rotary Pumps, Fire Engines, Water Rams, Pressure Engines, Air Machines, Eolipiles; Remarks on Ancient Wells, AirBeds, Cog-Wheels, Blowpipes, Bellows of various people, Magic Goblets, Steam Idols, and other Machinery of Ancient Temples: To which are added Experiments on Blowing and Spouting Tubes, and other Original Devices; Nature's Modes and Machinery for Raising Water; Historical Notices respecting Siphons, Fountains, Water Organs, Clepsydra, Pipes, Valves, Cocks, &c., &c., Illustrated by near three hundred Engravings. By THOMAS EWBANK. York: Appleton & Co. 1842.

New

THIS is the title-page in full of an inter

heretics and persons of note, with an accurate acesting work of science about to be pubcount of their opinions. Also extracts chiefly from the works of the most distinguished divines of the sixteenth and seventeenth centuries, opening and illustrating the chief points in controversy between us and the Church of Rome. In an appendix has also been given the Confession of Augsburg, and Creed of Pope Pius IV., in the English and original tongues, and in the original only, the canons and rubric of Watt."

An Exposition of the Creed, by JOHN PEARSON, D.D. Appleton & Co. New York: 1842.

THIS, like the work we have just noticed, is one of the standard works of the Episcopal Church. It is indebted for its celebrity to the same qualities of learning and

lished by the Appletons. It will furnish the reader a good general notion of the matter of the book-but not of the clearness, method, precision, and ease of the manner of it. The author has made the subject of Hydraulics the study of his life, and has given us in these pages the results of that study, as they have been gathered by the perusal of books, and by the performance of actual experiments. We believe there is no work extant which treats of the specific topic which he has chosen,-none, we are certain, which discusses it with more fulness of argument and illustration. To the practical mechanic, who is perhaps as much interested in the failures as in the successes of

those who have gone before him, Mr. Ewbank has rendered a very great assistance. He has put together in an accessible form a description of the vast variety of devices which the human intellect has developed for raising liquids; and it is curious to trace the progress of inquiry, and the numberless shifts to which men have been compelled to resort, before they attained the comparative perfection of existing methods. The general reader, no less than the philosopher and mechanic, will find much that is both profitable and entertaining in its observations.

Sketches of Foreign Travel and Life at Sea; Including a Cruise on board of a Man of War, as also a Visit to Spain, Portugal, the South of France, Italy, Sicily, Malta, The Ionian Isles, Greece, Liberia and Brazil; and a Treatise on the Navy of the United States. By Rev. CHARLES ROCKWELL, late of the U. S. Navy. 2 vols. Boston: Tappan & Bennet. New York: Wiley & Putnam, and Appleton & Co.

THESE Volumes embrace topics enough to make them interesting to any class of readers. The travels of the writer appear to have been as various as those of Baron Munchausen, though we have no doubt they are far more authentic. We have had time only to read a passage here and there which has impressed us favorably with the author's power of description. What he says of Central and Western Africa, and of parts of Italy is full of statistical instruction. We should think, however, that the plan of the author covers too much ground to suffer him to give many details.

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their different denominations, by arranging them in the order of their value. To give to the student 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 medicine, etc.

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 character. Thus, alteratives are an order of remedies embraced in the class of antiphlogistics. This order is subdivided into seven groups, the first of which are general alteratives, such as are adapted to acute and chronic inflammation, and to fever, in a general sense, and in the relative order of their value. The next division embraces all the remedies for scrofula, bronchocele, chronic enlargements of the liver, spleen, etc., and in the order of their value.

The third is relative to syphilis, etc. The fourth to syphilis complicated with scrofula. The fifth to rheumatism and gout. The sixth to intermittent fever and intermittent inflammation. The seventh to obstinate chronic cutaneous diseases, etc. Such is an example of this branch of the work, by which it is well fitted for immediate practical uses.

This not being a work for literary criticism, nothing need be said of it on that score; and we presume the professional reputation of the author will alone prove sufficient with the members of the medical faculty, for whom it is more particularly designed.

Chapters on Churchyards. By CAROLINE SOUTHEY. 1 vol. pp. 170. New York: Wiley and Putnam.

THIS work has been long before the English public, having, we believe, passed its third London edition. This amiable and skilful writer is better known by her maiden name-Caroline Bowles. Her "Solitary Hours" and "Ellen Fitzarthur" are both delightful books, and we are happy to find that an American publisher has been found so discriminating as to select them for republication. There is a gentleness and delicate beauty of style about these sketches which render them exceedingly pleasing; several passages, indeed, discover a power of delineation and pathos scarcely inferior to some productions of the very first writers of the age. We have been tempted to make

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