little variation, always points towards the north; and hence the mode of steering by the compass.

The common opinion is that the compass was invented by Flavio Gioia, a citizen of the once famous republic of Amalphi, very near the beginning of the fourteenth century. Dr. Robertson has adopted this opinion, and regrets that contemporary historians furnish no details as to the life of a man to whose genius society is so deeply indebted.-( Hist. of America, vol. i. p. 47. 8vo. ed.) But though Gioia may have made improvements on the compass, it has been shown that he has no claim to be considered as its discoverer. Passages have been produced from writers who flourished more than a century before Gioia, in which the polarity of the needle, when touched by the magnet, is distinctly pointed out. Not only, however, had this singular property been discovered, but also its application to the purposes of navigation, long previously to the fourteenth century. Old French writers have been quoted (Macpherson's Annals of Commerce, anno 1200; Rees's Cyclopædia), that seem fully to establish this fact. But whatever doubts may exist with respect to them, cannot affect the passages which the learned Spanish antiquary, Don Antonio de Capmany (Questiones Criticas, p. 73—132.) has given from a work of the fainous Raymond Lully (De Contemplatione) published in 1272. In one place Lully says, "as the needle, when touched by the magnet, naturally turns to the north" (sicut acus per naturam vertitur ad septentrionem dum sit tacta a magnete). This is conclusive as to the author's acquaintance with the polarity of the needle; and the following passage from the same work—“ as the nautical needle directs mariners in their navigation" (sicut acus nautica dirigit marinarios in sua nuvigatione, &c.) is no less conclusive as to its being used by sailors in regulating their course. There are no means of ascertaining the mode in which the needle Raymond Lully had in view was made use of. It has been sufficiently established-(see the authorities already referred to, and Azuni, Dissertation sur l'Origine de la Boussole,)—that it was usual to float the needle, by means of a straw, on the surface of a basin of water; and Capmany contends that we are indebted to Gioia for the card and the method now followed of suspending the needle; improvements which have given to the compass all its convenience, and a very large portion of its utility. But this part of his Dissertation, though equally learned and ingenious, is by no means so satisfactory as the other. It is difficult to conceive how mariners at sea could have availed themselves of a floating needle; but, however this may be, it seems most probable that Gioia had considerably improved the construction of the compass; and that, the Amalphitans having been the first to introduce it to general use, he was, with excusable partiality, represented by them, and subsequently regarded by others, as its inventor.

The statements which have sometimes been put forward in regard to the antiquity of the Chinese compass have been treated with very little respect by some great autho rities; and are much too questionable to warrant any stress being laid on them. The Chinese have never been in the habit of making distant voyages; but had the needle been used in their trading vessels, the Indians, with whom they came in contact, would no doubt have eagerly availed themselves of so valuable an invention; and they would, in all probability, have communicated it to the Arabs. There is, however, no evidence to show that the compass was used by the Indians previously to the voyage of De Gama. And there are no good grounds for thinking that the Arabs had any knowledge of the instrument, or that it was ever used by them, till after the period when they might have learned it from the Venetians, the Amalphitans, and other European traders. The notion that we are indebted to them for the compass, appears, indeed, to have little to recommend it, except that it began to become known when the Saracens became powerful in the Mediterranean. This, however, is too weak a ground on which to found a claim. And though it be impossible to speak with perfect confidence on such a subject, the fair conclusion seems to be, that the compass is a European invention; that it was discovered in the 12th or 13th century, and brought into use in some of the countries bordering on the Mediterranean.

The reader will not consider these details out of place in a work on commerce, which the compass has done so much to extend. "Its discovery," to borrow the language of Mr. Macpherson, "has given birth to a new æra in the history of commerce and navigation. The former it has extended to every shore of the globe, and increased and multiplied its operations and beneficial effects in a degree which was not conceivable by those who lived in the earlier ages. The latter it has rendered expeditious, and comparatively safe, by enabling the navigator to launch out upon the ocean free from the danger of rocks and shoals. By the use of this noble instrument, the whole world has become one vast commercial commonwealth, the most distant inhabitants of the earth

Capmany, p. 76. &c. The learned Mr. Forster, who is anything but inclined to underrate the obligations we are under to the Arabs, admits that they were ignorant of the

compass.-Mahometanism Unveiled, &c. ii. 223.
† Asuni," De la Boussole," pp. 118-122.

are brought together for their mutual advantage, ancient prejudices are obliterated, and mankind are civilised and enlightened.”—(Vol. i. p. 366.) COMPOSITION, in commerce, commonly implies the dividend or sum paid by an insolvent debtor to his creditors, and accepted by them in payment for their debts.

CONEY WOOL (Ger. Kaninchenwolle; Du. Konynhair; Fr. Poil de lapin; It. Pelo di Caniglio; Sp. Conejuna), the fur of rabbits. This article is extensively used in the hat manufacture; and besides the large supplies raised at home, a great deal is imported. The imports usually range from about 120,000 to about 130,000 skins a year.

CONSTANTINOPLE (Turk. STAMBOUL), a famous city of South-eastern Europe, formerly the metropolis of the Eastern, as it still is of the Turkish Empire, on a triangular point of land, on the European side of the Sea of Marmara (Propontis), at the point where it unites with the Bosphorus, or channel leading to the Black Sea, lat. 41° 0′ 12′′ N., lon. 28° 59′ 2′′ E. Population variously estimated at from 500,000 to 800,000, but believed, by the best authorities, to be about 650,000. The situation of this renowned city is, in a commercial point of view, one of the finest imaginable. Standing on the narrow straits uniting the Mediterranean and Euxine Seas, she at once commands, and is the entrepôt for, the commerce between them. The harbour is most excellent. It consists of an extensive inlet, or arm of the sea, stretching along the north-east side of the city, which it divides from the suburbs of Galata and Pera. It has sufficient depth of water to float the largest ships, and can accommodate more than 1,000 sail. The strong current that sets through the Bosphorus into the sea of Marmara strikes against Seraglio Point- (see Plan); a part of the water, being in consequence forced into the harbour, runs along its south-western side in the direction marked by the arrows-(see Plan), till, arriving at its extremity, it escapes by the opposite side. In the middle the water is still. On leaving the port, it is necessary to keep well over to the northern side; for otherwise the ship might be taken by the current, and driven on Seraglio Point. It may be worth while, however, to remark, that, notwithstanding this inconvenience, the current has been of signal service to the city, by scouring the harbour, and carrying away the filth and ballast by which it must otherwise have been long since choked up. The distance across from Seraglio Point to the opposite suburb of Scutari, on the Asiatic coast, is rather more than an English mile. Within less than of a mile of the latter is a rocky islet, upon which is a tower and lighthouse, known by the name of the Tower of Leander. Foreigners reside in Galata, Pera, and the suburbs on the eastern side of the harbour; and it is there, consequently, that the principal trade of the place is carried on. The quays are good, and ships lie close alongside.

The Bosphorus, or channel of Constantinople, runs in a N. E. by N. direction about 15 miles, varying in breadth from 14 to a mile. It is swept by a rapid current, which it requires a brisk gale to stem, and has throughout a great depth of water. The Hellespont, or strait of the Dardanelles, leading from the Archipelago to the Sea of Marmara, is about 13 leagues in length. Its direction is nearly N. E. Where narrowest, it is little more than a mile across. It also is swept by a strong current, and has deep water throughout.

The subjoined plan of part of Constantinople and its port is copied, without reduction, from the beautiful plan of the city and Bosphorus, drawn and engraved by M. Merzoff Robert of Munich, and published by Mr. Wilde of this city.

Nothing can be more imposing than the appearance of the city when seen from the sea, but on landing the illusion vanishes. The streets are narrow, dark, ill-paved, and irregular. Owing to the want of any effective system of police, and of the most ordinary attention to cleanliness, they are extremely filthy; and are infested with herds of dogs, and also with rats, which perform the functions of scavengers. The houses are mostly built of wood, and fires are very frequent. Most of these happen designedly; the burning of a few hundred houses being deemed the readiest and most effectual means of making the government aware of the public dissatisfaction, and of procuring a change of ministers, or a redress of grievances !

Weights and Measures. The commercial weights are 100 short piks=75:154 do. But in ordinary commercial affairs, 176 drams 1 rottolo; 2272 rottoli 1 oke; 6 okes = 1 the pik is estimated at of an English yard. batman; 7 batmans = 1 quintal or cantaro = 121-457 (1244 very nearly) lbs. avoirdupois 56 157 kilogrammes=116 527 lbs. of Hamburg. The quintal of cotton is 45 okes 127-2 lbs. avoirdupois.

Corn is measured by the kislon or killow= 0·941 of a Win. chester bushel; 84 kiloz= 1 quarter. The fortin 4 kisloz. Oil and other liquids are sold by the alma or meter = 1 gallon 3 pints English wine measure. The alma of oil should weigh 8 okes. (Nelkenbrecher and Dr. Kelly.)

The pik, or pike, is of two sorts, the greater and the less. The greater, called halebi or artchim, used in the measurement The Port Charges on account of English vessels in the of silks and woollens, is very near 28 inches (27*9). The lesser, harbours of the Ottoman empire are fixed by treaty at 300 called endese, used in the measuring of cottons, carpets, &c.aspers, neither more nor less. 27 inches. Hence 100 long piks 77-498 English yards, and

Money and Banks.-Owing to successive degradations, the value of the Turkish coin has been so much reduced that the piastre, which, previously to 1770, was worth about 2s. 6d., is so sunk as to be only worth about 24d. But the pernicious consequences of this continued tampering with the standard

References to Plan. A, Seraglio Point; B, Galata; C, Scutari; D, Tower and lighthouse of Leander. The arrows show the direction of the currents. The soundings are in fathoms. N.B. The port is crossed by two bridges of boats, which open in the centre to allow vessels to pass and repass, one joining the city to the suburb of Galata, and the other, farther up, to that of Pera. Vessels entering the port pass the lower bridge after sunset and those leaving it before sunrise. At each of these periods the bridge is kept open for three hours to admit of their ingress and egress. At other times it is shut.

of value were at last discerned by the Turkish authorities, and an attempt has been made to arrest the evil. In this view the old coins were called in and replaced by new ones, issued in 1844, called Medjidiè, from the Sultan's name. The designations and values of these coins are given in the following table.

Unluckily, however, the supply of new coins, amounting to only about 200 millions of piastres, was quite inadequate to fill the place of the old coins, and they either circulated at an agio in their favour, or were exported. To obviate the inconveniences of this state of things, caimés, or paper notes, were

issued. And to maintain the latter in circulation, and the piastre at a stationary value (108 piastres to the 17. sterling), the Bank of Constantinople was founded in 1848. But, having failed to accomplish the objects for which she was intended, and incurred a heavy loss, she was wound up in 1853, and the Ottoman Bank established in her stead. The functions of the latter are in part political, and in part commercial. She has a capital of 200 millions of piastres, in shares of 2,000 each; and is bound to withdraw from circulation old coins of the value of 497 millions, and to replace them by new coins; to receive such caimés as bear interest (132 millions) at par; and to receive those which do not bear interest (45 millions) at par, to the amount of one-third in the payments made to her. In return for these services she is chartered for 15 years, and is to receive an annual pension of 30 millions, with a bonus of 30 millions at the expiration of the charter. In addition to the functions now specified she transacts all sorts of ordinary banking business.-(See the excellent and instructive work of Ubicini, Lettres sur la Turquie, i. pp. 312-325, 2nd ed.)

It would be hazardous to speculate on the future of the Ottoman Bank. Much, of course, must depend on the regular payment of the pension of 30 millions. And that, we should think, was not a little

uncertain.

Besides the new monies, the old coins of the late and former sultans, and also foreign coins, continue in circulation. But all large payments are made by the kitze, or purse of gold, of 30,000 piastres, and the kis, or purse of silver, of 500 ditto. It may be worth while to mention that Ottoman coins are not marked with the effigy of the sovereign, but merely with his cypher, toughra.

Trade, &c. - Owing to the vicious institutions of the Turks, and the disorganised state of the empire, the trade of Constantinople is very far from being so extensive as might be supposed from its situation and population. The imports consist of corn, timber, tallow, and furs, principally from the Black Sea; and of cotton stuffs and yarn, iron, coal, tin, tin plates, woollens, silks, cutlery, watches and jewellery, paper, glass, furniture, indigo, cochineal, &c. from England and other European countries. Corn and coffee are imported from Alexandria; but considerable quantities of Brazil and West India coffee are also imported, particularly in British and American bottoms. Sugar is partly imported from the East, but principally from the West Indies. The exports consist of silk from Brussa, which is by far the most important article, carpets, hides, wool, Angola goats' hair, yellow berries, copper, boxwood, opium, galls, leeches, specie, and a few other articles. But the exports are always very much less than the imports; and ships carrying goods to Constantinople either return in ballast, or get return cargoes at the ports on the Black Sea, or at Smyrna, Salonica, &c., on which places they frequently procure bills at Constantinople. By far the largest proportion of the trade of this city, and of the Levant generally, is in the hands of Greek merchants, who by their superior skill, industry, and knowledge of those with whom they have to deal, have completely distanced their English, French, and other European competitors (denominated Franks). The Armenians only have been able to withstand the competition of the Greeks. Bargains are negotiated by Jew brokers, some of whom are rich.

If we formed an estimate of the trade of Constantinople from the number of vessels by which its port is visited, it would appear to be much greater than it really is. This arises from the circumstance of almost all the vessels passing from the Mediterranean to the Black Sea, and from the latter to the former, calling here, where they sometimes discharge and take on board part of their cargoes. We subjoin

An Account of the Number and Tonnage of the Foreign Ships that entered at, and cleared out from, Constantinople, in 1857, specifying the Countries to which they belonged, and the Number and Tonnage of those belonging to each.

Commercial Policy of the Turks.-It is singular that as respects commerce, the policy of the Turkish government, whether originating in design or carelessness, is entitled to the highest praise. "No restrictions," says Mr. Thornton, "are laid on commerce, except in the instance of a general prohibition of exporting the articles necessary for the support of human life to foreign countries, especially from the capital, where alone it is rigorously enforced; and this impolitic restraint will no doubt be removed when the Turkish government shall become sensible that what is intended as the means of securing abundance, is, in fact, the sole cause of that scarcity which is sometimes experienced. With this one exception, commerce is perfectly free and unfettered. Every article of foreign or domestic growth or manufacture is conveyed into every port, and over every province, without any interference on the part of the magistrates, after payment of the duties. On this subject I speak from actual experience, and may appeal to every foreign or native merchant in Turkey for its general truth."--(Present State of Turkey, vol. i. p. 82.)

The duties on importation are extremely moderate, being only 5 per cent., viz., 3 per cent. on goods when landed, and 2 per cent. on their being admitted to consumption. But the duties on exports of native produce amount to 12 per cent., whereof 9 per cent. is paid when the goods arrive at the port whence they are to be exported, and 3 per cent. on their being shipped.* ( Ubicini, sur la Turquie, i. 281.) It is needless to dwell on the impolicy of a general export duty of this amount; and the better plan would be to raise the duty on imports to 10 or 12 per cent., and to reduce the duty on exports to the 3 per cent. paid on embarkation. But despite the 12 per cent, charged on exports, Turkey is entitled, in all that relates to trade, to read a lesson to most European powers; and this she did in a very able manner, in an official paper published in the Moniteur Ottoman, in September, 1832. We extract a few paragraphs from this interesting document.

"Good sense, tolerance, and hospitality have long ago done for the Ottoman empire, what the other states of Europe are endeavouring to effect by more or less happy political combinations. Since the throne of the sultans has been elevated at Constantinople, commercial prohibitions have been unknown; they opened all the ports of their empire to the commerce, to the manufactures, to the territorial produce of the Occident, or, to say better, of the whole world. Liberty of commerce has reigned here without limits, as large, as extended as it was possible to be.

"Here every object of exchange is admitted, and circulates without meeting any obstacle other than the payment of an infinitely small portion of the value to the Custom-house. The chimera of a balance of trade never entered into heads sensible enough not to dream of calculating whether there was most profit in buying or selling. Thus the markets of Turkey, supplied from all countries, refusing no objects which mercantile spirit puts into circulation, and imposing no charge on the vessels that transport them, are seldom or never the scenes of those disordered movements occasioned by the sudden deficiency of such or such merchandise, which, exorbitantly raising prices, are the scourges of the lower orders, by unsettling their habits, and by inflicting privations. From the system of restrictions and prohibitions arise those devouring tides and ebbs which sweep away in a day the labour of years, and convert commerce into a career of alarms and perpetual dangers. In Turkey, where this system does not exist, these disastrous effects are unknown.

"The extreme moderation of the duties is the complement of this régime of commercial liberty: and in no portion of the globe are the officers charged with the collection, of more confiding facility for the valuations, and of so decidedly conciliatory a spirit in every transaction regarding commerce. "Away with the supposition that these facilities granted to strangers are concessions extorted from weakness! The dates of the contracts termed capitulations, which establish the rights actually enjoyed by foreign merchants, recall periods at which the Mussulman power was altogether predominant in Europe. The first capitulation which France obtained was in 1535, from Soliman the Canonist (the Magnificent). The dispositions of these contracts have become antiquated, the fundamental principles remain. Thus, 300 years ago, the sultans, by an act of munificence and of reason, anticipated the most ardent desires of civilised Europe, and proclaimed unlimited freedom of commerce.'

Did the policy of Turkey in other respects harmonise with this, she would be one of the most civilised and powerful of nations, instead of being one of the most abject and degraded. Unfortunately, however, this is very far from being the case. Tyranny and insecurity universally prevail. "The cultivator of the soil," says one of her eulogists, is ever a helpless prey to injustice and oppression. The government agents have to suffer in their turn from the cruelty and rapacity of which they themselves have been guilty; and the manufacturer has to bear his full share of the common insecurity; he is fixed to the spot, and cannot escape the grasp of the local governor. The raw material monopolised by a bey or ayan, may be forced upon him at a higher price than he could purchase it himself, and perhaps of inferior quality; fines may be imposed upon him, he may be taken for forced labour, or troops may be quartered on his workshop."--( Ürquhart on Turkey and its Resources, p. 139.)

Some vigorous efforts have been made of late years by the Turkish government to reform abuses; but with little or no practical effect. There is, in truth, neither public virtue nor principle in the country to second these efforts. Corruption of every kind is as prevalent as ever; and the Rayas continue to be exposed to every sort of oppression. Though railways have been projected, there are at present (1859) no roads in any part of the empire; and agriculture is everywhere in the most abject condition. Indeed, vast tracts of the most fertile (and of old the most flourishing) districts of Asia Minor are wholly waste and unoccupied; and the evil, instead of diminishing, is continually increasing. The greater density of population in European Turkey, and whatever This 3 per cent. is not unfrequently represented as being the entire duty on exports.

† For an account of Turkish agriculture, manufactures, &c., see Ubicini, Lettres sur la Turquie, i. pp. 355-438. Though written with a strong bias in favour of the Turks, this is incomparably the best of the late works on Turkey.