We must now pass to the statistics of shipping, which are divided into -1, the trade reserved to French vessels; and 2, the trade open to foreign vessels.

1. The trades reserved to French vessels are those with the colonies, (except in some cases to Algeria,) the coasting trade, and the fisheries. The progress of French shipping engaged in these trades during the last fifteen years was—

FRENCH TONNAGE, WITH CARGOES, ENTERED OR CLEARED FROM AND ΤΟ FRENCH COLONIES AND POSSESSIONS.

With cargoes, in 1847... 114,000 | With cargoes, in 1861... 129,000

In the coasting trade:

Tons.

With cargoes, in 1847.

2,919,000 With cargoes, in 1861.

Tons. 3,103,000

Fisheries. The production of the whale fisheries exhibits a considerable decline of late years; the quantity of oil and whalefins produced in 1847 and 1861 were:

OIL.

3,5141861...

1847.. tonneaux métriques 3,514 | 1861... tonneaux métriques

130

1817.....

WHALEFINS.

1161861.....

2

The quantity of cod fish exported from the fisheries and from French ports in 1847 was 16,108 tonneaux métriques, and in 1861, 13,395.

The coast fisheries in France on the 31st December, 1861, numbered 8,041 boats, of 59,541 tons, and 39,898 men.

2. Foreign Trade.-The following table shows the amount of tonnage of each nation trading with France in the years 1847 and 1861:

TOTAL TONNAGE ENTERED AND CLEARED AT FRENCH PORTS WITH CAR

Thus we see that the French tonnage engaged in the foreign and colonial trades of the country only amounted to thirty-seven per cent of the whole in 1847, and to thirty-nine and-a-half per cent in 1861; while in the United Kingdom, where foreign ships are admitted on equal terms with national vessels, the British tonnage enjoyed in 161 sixty per cent of the carrying trade of the country.

POPULATION, PRODUCTION, ETC.

Population. The area of France in the year 1861 was 209,420 square miles, and the total population 37,382,000 persons, giving a mean population of 179 persons to the square mile. The figures include the departments of Savoy and Nice, and consequently prevent any comparison being made with previous census returns. The increase in the population of France (exclusive of Savoy and Nice) in the decennial period between 1846 and 1856 was only 2.23 per cent. In England and Wales the increase, according to the last census, was 12 per cent; and in Scotland, 6 per cent; and the density of population was 344 persons to the square mile in England and Wales, and 98 in Scotland.

Distribution of the Soil.-Exclusive of the departments of Savoy and Nice, from which no returns have been received, the soil of France is divided as follows:

Live Stock. The total number of each kind of live stock in France (exclusive of Savoy and Nice) is estimated as follows:

Wheat. The production of wheat during the period from 1847 to 1861 varied from 234 million quarters in 1853, to 37 million quarters in 1857. In 1861, the year in which the largest area was under wheat cultivation, the produce was only 25 million quarters. The greatest yield per acre during the period was in 1857, and the smallest in 1861.

Wine. The mean annual production of wine in France is 1,089,000,000 gallons. Of this quantity 67 per cent is consumed in the country, leaving 33 per cent for exportation.

Silk. The production of silk has greatly diminished of late years: the annual average production of cocoons from 1846 to 1852 was 53,000,000 lbs., which had diminished from 1858 to 1861 to 26,500,000 pounds.

Mines. The production of coal in 1861 was about 8,000,000 tons; of cast iron, 856,000 tons; of wrought iron (merchant), 520,000 tons; of rails, 106,000 tons; of iron plates, 69,000 tons; of iron wire, 24,000 tons; and of steel, 20,000 tons. The value of these was between 18 and £19,000,000. The value of other metals produced was about £2,500,000. In the period from 1847 to 1859 the average price of coal at the place of production increased 31 per cent, the average price being, in 1859, 10s. 1d. per ton. The price of cast iron made by charcoal and by coal diminished by about 20 per cent during the same period. The price of wrought iron made with charcoal diminished only 7 per cent, while that made with coal decreased by about 23 per cent. France imports ́annually from 5 to 6,000,000 tons of coal from Belgium, England, and the Rhenish Provinces.

Salt. The production of salt increased from 572,000 tons in 1847 to 630,000 tons in 1861.

Sugar. The quantity of home-made sugar entered for consumption doubled during the period from 1847 to 1861, being 52,000,000 kilogrammes in the former year, and 105,000,000 in the latter.

Tobacco. The increase in the quantity of tobacco manufactured by the government and sold in France in 1860, as compared with 1847, amounted to 10,000,000 kilogrammes, or 22,000,000 lbs.

Machinery.-Connected with the productive power of the country, as

*Only between one-fourth and one-fifth of the total number of sheep are of the ordinary kind, the remainder being Merinos or of mixed breed.

taking the place of so many able-bodied workmen, the increase in the steam motive power employed affords some guide as to the progress of the industry of the country. In the year 1847 the total horse-power of machinery so employed was only 145,807, but in 1859 it had increased to 513,092. The increase appears to have been divided generally between the various trades and manufactures of the country.

Means of communication.-The length of river, canal, and railroad communication in France is stated as under

The tonnage of steam vessels engaged in the river navigation increased from 21,137 tons in 1847 to 33,690 tons in 1859, the largest employment having been 51,094 tons in the year 1857. As might be expected, there was a decline in the number of passengers, from 24 millions to 1 million, consequent upon the increased facilities of railway accommodation. There was, on the other hand, a large augmentation in the quantity of goods conveyed, viz., from 880,000 tons in 1847 to 2,616,000 tons in 1859.

Railways-On the 31st December, 1861, 6,269 miles of railway were open in France, against 1,136 miles on the 31st December, 1847. The statistics of the number of passengers and weight of goods conveyed only come down to the year. 1859. The increase in that year over 1847 was 39,500,000 passengers; the total in 1859 being 52,500,000; and the increase in goods traffic 16,250,000 tons; the total weight conveyed in 1859, being about 20,000,000 tons.

Post-office. The number of letters sent by the post more than doubled between 1847 and 1861, being 126,000,000 in the former year and 274,000,000 in the latter. In the same year the number of printed papers transmitted by the post were 90,000,000 in 1847 and 189,000,000 in 1861. The total receipts were £1,920,000 in 1847, and £2,440,000 in 1861.

Electric Telegraphs.-In the year 1851 only 9,014 private messages were despatched, producing a receipt of £3,080; and in the year 1860 no less 711,652 messages were sent, and £165,760 received. Of the total number in 1860, 562,531 messages were used in France, and 149,121 sent to foreign countries.

Coinage. The total value of gold coined in France in the period from 1847 to 1861 inclusive, was £181,693,000, and of silver, £30,235,000. Savings Banks.--The total number of savings banks in 1847 was 345, and the number of accounts open on the 31st December, in the same year, 736,591. In 1860 the number of banks increased to 433, and the accounts open to 1,218,122.

COMMERCIAL CHRONICLE AND REVIEW.

STATE OF TRADE-SPECULATIONS-STOCKS OF GOODS-NUMBER OF STORES-DIMINISHED DEMANDGOODS TURNED INTO PAPER-DEPRESSION OF FARMING INTERESTS-RELATIVE PRICES-FALL OF GOODS-IMPORTS-DUTIES-EXPORTS-BALANCE-TRAVELLERS-INVESTMENTS-SPECIE MOVEMENT-CALIFORNIA-EXCHANGE-RATES-DISBURSEMENTS-DEBT-CONVERSIONS-1-YEAR CERTIFICATES-PRICES OF STOCKS-UNITED STATES DEBT-ANNUAL INTEREST-MANNER OF INCREASE OF DEBT-STOCKS.

THERE has been during the past month much depression in general business, and, to some extent, a panic among holders of goods, who have been disappointed in the expected demand for consumption. The rapid rise in exchange early in the year caused an active demand for all descriptions of goods. Holders were not disposed to sell, and buyers were very anxious to get into stock, in view of the depreciation of paper. This speculative feeling was anticipating a large demand for consumption at prices. proportionate to the extravagant rise in goods. That demand, however, did not take place, since the usual effect of an extravagant rise in prices manifested itself in an indisposition on the part of the public to purchase. The weak holders of goods not meeting the usual demand, and being caught in a counter speculation for a rise in government paper, or, as the speculators expressed it, for a fall in gold, there was great pressure to sell goods through the auction shops, and that at a decline of some 25 per cent. These ruinous fluctuations in business and the value of goods are the direct results of an unstable currency; but at every oscillation the moment of ultimate discredit is hastened. The real capital of the country is being rapidly used up, since the production is sinall and the old stocks diminishing through consumption. There were, according to the returns of the Mercantile Agency, 190,000 stores in operation in the Northern States in 1861. Of these, 5,000 failed at an average liability of $60,000. The average stocks of goods held by all the stores may be estimated at $10,000, which would give a value of goods equal to $1,900,000,000, or in round numbers $2,000,000,000, on hand. A very considerable proportion of these goods was "dead stock," or such as from lapse of time, etc., had become difficult of sale in face of constant supplies of fresh and seasonable goods. The first effect of the paper inflation was to make those goods more active and bring them into consumption, instead of the high priced new goods. This operation was not duly weighed by the speculators in goods at first hands, and the diminished demand is very serious. It is also the case that the shop-keepers, while thus reducing their old stocks to the smallest practicable limit, buy very sparingly and only of such articles as are absolutely necessary to meet current consumption. The consumers of goods, in their turn, buy very sparingly and dispense altogether with many articles.

If, now, the stocks of goods throughout the country are reduced by this process one half, or $1,000,000,000 or $50 per head of each person, it will be observed that the store-keepers have realized that amount of money from goods before idle, and that money they will not reinvest in the way of their trade at high prices, because of the frequent violent fluctuations.