ART. CONTENTS OF NO. III., VOL. XXVI. ARTICLES. PAGE. L. COMMERCE OF FRANCE IN 1850. By DAVID R. JAQUES, of the New York Bar....... 275 287 III. A NATIONAL CURRENCY-REAL ESTATE ITS BASIS.-No. 11. By N. H. C...... 299 IV. COMMERCIAL CITIES AND TOWNS OF THE UNITED STATES.-No. xxx.-St. Louis, and her means of advancement and wealth.. V. THE CURRENCY-GOLD AND SILVER................ 306 326 328 VIL FEARLESS FEAT OF AN AMERICAN WHALEMAN. By HENRY Garrett. 334 VI. LAWS RELATING TO Debtor and CREDITOR IN WISCONSIN. JOURNAL OF MERCANTILE LAW. Case of libel by a consignee of goods for a failure to deliver them according to contract. COMMERCIAL CHRONICLE AND REVIEW: 337 338 339 EMBRACING A FINANCIAL AND COMMERCIAL REVIEW OF THE UNITED STATES, ETC., ILLUSTRA TED WITH TABLES, ETC., AS FOLLOWS: Comparative trade for January and February-Distinctive features of the season's businessCharacter of the American merchant, showing the value of lessons of caution-Difficulties now experienced resulting from heedlessness during past prosperity-State of the country in the South and West, with prospects for the future-Comparative prices of breadstuffs, and the opening demand from abroad-Heavy payments due in March as compared with corresponding receipts-Condition and prospects of the cotton and woolen manufacturing interests-Relative cost of raw materials-Difficulty of increasing wool crop-Propriety of abolishing duties on all raw materials and dye-stuffs-other obstacles to success in manufacturing-Return of federal stocks from abroad, with the reasons thereof, and a comparison of prices at different dates-Condition of the banks-Deposits and coinage for the month of January at the Philadelphia and New Orleans mints-Imports at New York for January-Imports of dry goods for the same periou-Receipts of cash duties-Exports from New York for January-Summary of the leading articles of produce exported as compared with the same period of 1851-Falling off in general imports at New York, and throughout the United States-Decline in value of American coin at London, etc..... 340-345 Condition of the banks of Boston.-London and Westminster Bank JOURNAL OF BANKING, CURRENCY, AND FINANCE. Resources, taxation, &c., of Pennsylvania.. Condition of the State Bank of Indiana.-Fire insurance in Germany.. "Credit is Money' PAGE. 346 347 348 349 350 The British post office packet service.-Public loans of Pennsylvania... Coinage of the New Orleans Mint in 1851.-Debt and finances of Michigan... Finances of the United States.-Early currency of Maine.. ...... 351 352 353 355 355 356 Exports from the port of New York in 1851.-Agricultural productions of the U. States in 1850. 366 The British tea trade. Import, re-export, and consumption of foreign merchandise of the United States, from '21 to '51 369 Commerce of Belfast, Ireland. 368 369 370 Imports into New York in 1851.-Mackerel fishery of Massachusetts NAUTICAL INTELLIGENCE. Tidal signals at Dovor Harbor.-Youghal Light-House, South coast of Ireland. 371 Improvements in light-houses.-New method of determining longitude.. 371 372 COMMERCIAL REGULATIONS. British law regulating] the carriage of passengers in merchant vessels.. Wages of labor in factories.-West Newton Silk Ribbon Manufactory..... HUNT'S MERCHANTS' MAGAZINE AND COMMERCIAL REVIEW. MARCH, 1852. Art. 1.-COMMERCE OF FRANCE IN 1850.* THE annual report on the Commerce of France during the year 1850 has been published by the French government. We are indebted for an early copy to the polite attention of our friend and correspondent at Paris, Mons. D. L. Rodet. We proceed to translate for the Merchants' Magazine the summary exhibiting the general features of French trade, which is prefixed to the detailed tables comprising this elaborate report. The technical terms used in this summary are explained in the general observations accompanying it, which we translated at length in connection with the report for 1848.t In the report for 1849 an explanation was given of the distinction between official and actual values observed in these tables, and of the manner in which these values are determined. The official value corresponds generally with what we understand by specific rates. Actual values, on the other hand, are the average real rates prevailing during the year. The care and minute accuracy with which the inquiries of the Commission are prosecuted, by which actual values are determined, were pointed out in the report for 1849, and an account of the labors of this Commission was given in the March number of the Merchants' Magazine for 1851. The general Commerce of France with her colonies and foreign powers in 1850, amounted, including imports and exports, to 2,705,000,000 francs, official value. This is 140,000,000 or 5 per cent more than the aggregate Tableau General du Commerce de la France, avec ses colonies et les puissances etrangeres, pendant l'annee 1850. + See Merchants' Magazin, vol. xxii., p. 259. This is the amount accord.^ to the official values, established in 1826 as distinguished from actual values which are revised every year. of the previous year, 294,000,000 or 12 per cent more than the average of the five previous years. According to the valuation of 1850, the trade of France, amounts to a total of only 2,555,000,000 francs. Comparing this with the total according to the official values of 1826, we have a falling off of 150,000,000 or 6 per cent. Comparing with the business of 1847, 1848, and 1849, in like manner, we have a diminution of ten per cent with regard to the first, and of 18 and 11 per cent with regard to the other two. Of the aggregate of 2,705,000,000 francs, 1,174,000,000 francs are imports, 1,531,000,000 francs are exports. Compared with the business of 1849, the imports show an excess of 32,000,000 or 3 per cent; compared with the average of five years, the excess is 5,000,000 francs. In exports there has been a gain of 108,000,000, or 8 per cent, on 1849, and of 288,000,000, or 23 per cent, on the average of five years. According to actual rates, the total of imports is reduced to 1,120,000 francs, and of exports to 1,435,000,000 francs. Compared with the figures given above, 1,174,000,000 and 1,531,000,000 francs, the difference is 54,000,000 francs, and 96,000,000 francs, or 5 and 7 per cent. This difference re ards General Commerce. In Special Commerce, the aggregate total is 1,904,000,000 francs. The aggregate for 1849 was only 1,812,000,000 francs, that of the five years previous 1,709,000,000 francs. The increase, therefore, is 92,000,000 francs, or 5 per cent, on the former, and 195,000,000, or 11 per cent, on the second amount. Of this amount of 1,904,000,000 francs, there are of— It thus appears that while imports have remained stationary, exports have increased 91,000,000 francs, or 9 per cent. It may be well to call attention to the fact that in 1849 there was a gain on 1848 of 40 per cent in imports, and 24 per cent in exports. In imports the five years' average is 818,000,000 francs, in exports 891,000,000 francs; the result is a difference on the one hand of 232,000,000 or 26 per cent in favor of 1850, and on the other hand of 37,000,000, or 5 per cent, against it. The total of Special Import trade at actual rates is ten millions beyond the total of official values; that of exports is 55,000,000 less, or 5 per cent. Comparing actual rates of 1850 and 1849, we have a difference in favor + The following table exhibits in official values, and in periods of five years, the course of French Foreign commerce during the last fifteen years. |