The total capital of the 102 country banks, out of Boston, was, December, 1850, $16,355,000. As compared with the year previous, the Boston banks exhibit an increase, as follows: Although the capital has increased nearly five millions, from September, 1847, to September, 1850, yet the circulation and coin are somewhat less. The total capital of the thirty Boston banks, January 1st, 1851, was.... Adding the capital of the 102 country banks. Makes the total bank capital of the State, January 1st, 1851.... CONDITION OF THE BANKS OF NEW ORLEANS. $21,710,000 16,355,000 $38,065,000 STATEMENT OF THE CONDITION OF THE BANKS IN NEW ORLEANS ON THE 30TH OF NOVEM Balance in the Treasury, January 1, 1850.. Receipts for the year. The Governor thus states the condition of the finances of that State : $9,961 20 128,544 23 $138,505 43 Expenditures, ordinary and extraordinary ... 125,542 63 Balance in cash... The State has on hand, after deducting all liabilities, cash, stocks, and securities to the amount of ... Loaned the various counties Total.. $12,962 80 $290,987 91 764,670 0 $1,055,657 91 STATE DEBT OF INDIANA. We are indebted to the agents of the State of Indiana for the subjoined particulars of the Stock and Bonds created and issued by and under the authority of that State. Under the funding arrangements, the State debt was divided into two parts; one called "Indiana State Stocks," provided for by State taxation, and for which the State faith is pledged; the other called "Indiana Land Stocks," for which the Wabash and Erie Canal is pledged. Under this arrangement the holders received for each bond, and its accrued interest : 1. For one-half the principal a certificate for $500, bearing interest at 5 per cent, payable half yearly, commencing in July, 1847; 4 per cent, in cash, and 1 per cent, funded to 1853; after 1853, the whole payable in cash. 2. For one-half of the back interest, a certificate for $150, bearing interest at the rate of 2 per cent, after 1853. These Stocks are payable by the State. 3. For the the other half of the principal, a certificate for $500, bearing 5 per cent interest after the 1st of January, 1847. 4. For the other half of the back interest, a certificate of $150, bearing 5 per cent interest after the 1st of January, 1853. These Stocks are payable out of the revenues of the Canal. There then exists the following debt and stocks pertaining to the State of Indiana:1st. Indiana Bonds, so long as there are any not converted. 20. The Indiana Canal Loan, bearing 6 per cent interest, issued for the eight hundred thousand dollar loan. 3d. The Indiana State 5 per cent stock, issued for half the principal. 4th. The Indiana State 24 per cent stock, issued for half the interest. 5th. The Indiana Canal, 5 per cent Preferred stock, issued for half the principal to subscribers. 6th. The Indiana Special, 5 per cent Preferred stock, issued for half the interest to subscribers. 7th. The Indiana Canal, per cent Deferred stock, issued for half the principal to non-subscribers. 8th. The Indiana Special, 5 per cent Deferred stock, issued for half the interest to non-subscribers. The canal stock issued to subscribers to the loan is called "Preferred Canal Stock," and will be first paid, both principal and interest, out of the canal revenues, before any payment of either will be made upon the canal stock issued to non-subscribers. The amount of these stocks is as annexed: Preferred Canal Stock, interest 5 per cent, from January 1, 1847.. 4,079,500 1,215,820 Deferred Canal Stock, interest from January 1, 1847.. Old Indiana Bonds, outstanding and unconverted, $1,186,000, and interest from 1841. This amount of outstanding bonds, namely, $1,186,000 is convertible, as of January 1. 1851, into the following stocks, namely :: 5 per cent Indiana State, interest 4 per cent, from January 1, 1851, to January 1, 1853.... $593,000 24 per cent Indiana State, interest from January 1, 1853.. 208,360 Deferred Canal, 5 per cent, interest from January 1, 1847... 593,000 Special Deferred Canal, 5 per cent, interest from January 1, 1853. 177,900 The market value of these different Stocks is as follows: Indiana old bonds, with accrued interest coupons thereon, from (and including that due on) 1st July, 1841, 55 per cent, or $550 for each bond of $1,000, and all their arrears of interest. Indiana Canal 6 per cent Loan, interest payable 1st July, and 1st January, at the office of the Trustees in New York city. Eighty-eight per cent last sales—90 now asked. Indiana, 5 per cent, State Stock. Eighty-one offered-82 asked; January interest off. Indiana 24 per cent State Stock; sales at 39. (Interest on them commences in 1853.) Indiana Canal, Preferred 5 per cents. Sales at 30 per cent. (All interest from 1st January, 1847, goes to the buyer.) Indiana Special Preferred 5 per cent Canal Stocks. Sales 15 per cent. (Interest on them commences in 1853.) Indiana Deferred Canal 5 per cent Stock. Sales at 10 per cent. (Interest on them accrues from 1st January, 1847, but is not to be paid till Preferred Stocks are fully provided for.) Indiana Special Deferred 5 per cent Canal Stocks. (Interest commences to accrue after 1853, but not to be paid till Preferred Stocks are all provided for.) Six to 8 per cent. The Governor of Indiana states in his last message, that within the last nine years, by taxation alone, the State has liquidated of its domestic debt, in principal and interest, the sum of $2,529,156; and have paid of interest on its foreign debt, including the January interest, 1851, the sum of $739,269; making a total of $3,268,425, or over $360,000 per year, in addition to the ordinary expenses of the State, a sum equivalent to half the present State indebtedness. By the year 1852, with the improvements proposed in the revenue system, the saving effected by biennial sessions of the Legislature, and the revenue to be derived from the Madison and Indianapolis Railroad, it is estimated that the Treasury will be able, within that year, to appropriate the sum of $100,000 to the payment of the principal of the foreign debt. A table has been prepared with great care, assuming the revenue of 1853 to be $50,000, that the annual increase of the revenue will be three per cent, that the sum of $100,000 may be appropriated, the first year, for the payment of principal; and that this sum may be increased every year thereafter, by the three per centum of increase, and the amount saved in the interest account. Under such an estimate, which the Governor believes is entirely practicable, the public debt will be liquidated in seventeen years from the first payment. The Governor disapproves of municipal corporations subscribing to stock, in the various railroad, and other public improvements, which are at present in the course of construction, or projected in the State, and thinks they should be carried on entirely by private enterprise. INCREASE OF WEALTH AND POPULATION IN MASSACHUSETTS. Augustus Story, Esq., has prepared and published in the Salem Gazette a table, showing the valuation of property of each county in the State of Massachusetts, in 1850, as compared with 1840, and also the per cent of increase both in valuation and population. From Mr. Story's statement, based upon official returns, it appears that the increase has been as follows: In Suffolk County is 95 per cent in value and 70 per cent in population. Essex Nantucket has decreased 25 per cent in value, and 8 per cent in population. In Norfolk County the increase in value is nearly double that of any other county. NEW YORK CITY DEBT. The annexed statement, of the indbtedness of the city of New York, is derived from a statement furnished by the Controller of the city: STOCKS AND SECURITIES HELD BY THE COMMISSIONERS OF THE SINKING FUND, FOR THE REDEMPTION OF CITY DEBT. 5 5 66 Water Stock of 1849, due 1875. Water Loan Stock, due 1880... 5 and 6 per cent Croton Water Stock, due 1890... 5 per cent Public Building, due 1856.... Fire Indemnity, due 1868..... Washington-square Iron Railing Stock, due Nov. 1, 5 66 5 Fire Loan, due 1851.... 6 1851, 1852, 1853.. 5 46 Revenue Bonds. Total..... $5,150 29,174 206,820 28,183 55,600 2,087,025 500,000 17,875 135 188 16,000 15,000 274,000 $3,370,015 PERMANENT CITY DEBT REDEEMABLE FROM THE SINKING Fund. 5 per cent Fire Loan Stock, redeemable 1851... Public Building Stock, redeemable 1856.. 66 Water Stock of 1849, redeemable 1875. 5 and 6 per cent Croton Water Stock, redeemable 1890. Building Loan Stock, No. 3, redeemable 1870... 255,600 2,147,000 500,000 880,207 50,000 FUNDED DEBT, REDEEMABLE FROM TAXATION. 6 per cent Building Loan Stock, No. 2, due 1851.... 6 6 $50,000 1852... 50,000 1853... 50,000 THE COINAGE OF GOLD DOLLARS: WITH REFERENCE TO THE SCARCITY OF "CHANGE," OR SMALL COINS. The Director of the United States Mint at Philadelphia, has addressed the subjoined letter to the Post-Master of New York in regard to the coinage of gold dollars, &c. MINT OF THE UNITED STATES, January 13, 1851, SIR-I have had referred to me a letter of yours to the Post-Office Department, in which you refer to the want of gold dollars in your office, and suggest your desire to exchange for them, at the Mint, American coin of the larger denominations. Having been requested by the department to address myself to you upon this topic, I have to state that an exchange such as you propose would infringe on the fundamen tal purpose of our organization, which is to coin into the national currency bullion not previously in that shape. I can think of but one means by which, in a perfectly regular manner, we could furnish you with these coins, which is by the Treasury Department drawing on our bullion fund for the requisite sums, payable in gold dollars. I suggest that method, however, with much reluctance, because we have already a difficulty in meeting the regular demand for these coins, and because, further, it would involve the diminution of our bullion fund at a time most unpropitious to our depositors. The difficulty in regard to small change has grown entirely out of the variance in the value of silver as compared with gold, by which it has become profitable to hoard and export the more valued metal, silver, and employ gold as a preferable medium in the payment of debts. It is evident, therefore, that as long as the present relation of the two metals continues, the present scarcity of the silver will remain unabated. It is just as clear, too, that the Mint cannot furnish the remedy, since the silver deposits which furnish the material of our coinage must continue to diminish. Considering these facts, it seems to me that creditors, and the post-offices in particular, will find that the only remedy in their power is to decline receiving any coins in payment of debts which do not constitute the precise sum due. The obligation of making "change" is certainly not required by law. Our coins are made legal tenders for the amounts on their face, or for any multiples of those amounts. But there is surely no right to tender à larger piece in payment of a debt for which the law provides a smaller piece. A double-eagle may certainly be declined if offered to pay a five-cent postage; and if a double-eagle, then why not any other coin except the exact half-dime itself? Yery respectfully your faithful servant, WILLIAM V. BRADY, Esq., P. M., New York. R. M. PATTERSON, Director. SAN FRANCISCO CITY SCRIP AND FINANCES. The following table, derived from the Alta Californian, exhibits at a glance the entire amount of scrip which has been issued. The table was furnished by the Controller, preparatory to his official report: Amount of expenditures from September 1, to November 27, 1850 . 474,843 53 $788,051 77 Amount of scrip redeemed from September 1, to November 27, 1850.... Amount of accounts paid in cash $216,448 34 245,651 80 Amount of indebtedness November 27, 1850.... |