COMPARATIVE, VIEW OF THE CONDITION OF THE BANKS IN DIFFERENT SECTIONS OF THE UNION, ACCORDING TO RETURNS DATED NEAREST TO JANUARY 1, 1850, and January 1, 1851. Banks and branches. Capital. 1850. 1851. 1851. 1850. Loans and discounts. 169,879,769 14,453,004 90 38,873,251 40,309,024 50,886,610 50,437,459 82 31,023,258 29,798,593 44,630,421 77 9,604,667 11,565,338 20,587,599 4,062,283 51,011,473 1,241,099 22,773,997 377,992 $191,777 $1,950,302 $1,911,634 15,408,420 5,845,901 5,230,099 2,957,874 7,807,414 8,425,585 1,248,225 4,010,211 2,641,412 968,338 1,037,455 3,586,384 Notes of other banks. 1850. 1861. 1850. 1851. 1850. 1851. $15,600 $409,496 $8,210,889 $9,691,775 $4,786,113 $5,238,147 3,227,332 2,152,420 15,604,422 17.709.091 6,660,231 6,642,492 1,832,628 2,903,203 7,207,483 11,138,910 1,886,993 2,382,588 4,594,778 2,836,593 7,377,295 7,262,831 1,249,559 1,381,440 2,279,210 3,331,860 4,623,025 1,740,393 1,529,593 871 217,317,211 227,469,074 364,204,078 412,607,653 Due by other banks. 8,935,972 41,631,855 50,425,632 16,303,289 17,174,260 11,603,245 15,268,907 45,379,345 48,671,138 Circulation. $17,397,742 $5,764,143 $7,750,247 $1,184,851 $658,103 77,216,787 23,817,191 30,157,617 2,414,308 3,087,627 9,978,884 11,306,342 2,845,679 South-western States 20,819,540 Western States 14,373,246 25,607,465 14,334,306 15,379,509 5,586,985 15,279,747 6,357,027 3,938,838 2,872,886 2,975,650 1,153,590 1,417,552 1,540,603 1,666,124 2,416,436 Total.. 131,366,526 155,012,911 109,586,595 127,557,645 36,717,451 46,362,955 8,835,309 6,379,464 In this table the different States are classed as follows:EASTERN STATES.-Maine, N. Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut. MIDDLE STATES-N. York, N. Jersey, Pennsylvania, Delaware, Maryland. SOUTHERN STATES.-Virginia, N. Carolina, S. Carolina, Georgia. Missouri. This table embraces, it is believed, all the incorporated banks that were doing a regular business in the beginning of the year 1850, except the following : Bank of Ithaca, New York... Bank of Monroe, New York.. Wilmington and Brandywine, Delaware. Union Bank. Washington County Bank, Maryland Total...... $832,885 The statement for 1851 embraces all the regular banks, except the small Bank of Erie, Pennsylvania. Its capital is only $86,520. FINENESS AND VALUE OF CALIFORNIA GOLD. The subjoined tabular statement of the actual results of several lots of California gold, as assayed at the United States Assay Office at San Francisco, was prepared by Messrs. Moffat & Co., which, together with the remarks, we have condensed from an article in a late number of the Alta California. What cotton is to Mississippi and Alabama, sugar to Louisiana, rice to South Carolina and Georgia, hemp to Kentucky, silver to Mexico and Peru, iron to Russia, teas to China, coffee to Brazil, so is gold to California. The natives of these states and nations respectively, understand the meaning of the terms applied to the staple of their country, and the rules and circumstances governing their prices. They are judges of the fibre of cotton and hemp, the crystalization and purity of sugar, the peculiar qualities of rice, tea and coffee, silver and iron. It is doubtful if as much can be said of our own people respecting our own staple. What is gold, and what rules in regulating its prices? It is doubtful if one man in a thousand of our population really knows what gold is, and what it is worth. Pure gold is said to be twenty-four carats fine. Its standard mint value is then 20.672 per ounce. But beyond that it usually bears a premium of from six to seven per cent, the cost and trouble of refining enhancing its value to that amount. It is usually found alloyed, a portion of the mass being silver. The fineness of the gold depends upon that fact. If 100 parts are silver, and 900 parts gold, the fineness is twenty-one carats and nineteen thirty-seconds of a carat, and an ounce is worth $18.605. And so on as the silver is greater in proportion, the fineness and value of the gold dust is diminished. When the proportion of alloy is 500-1000th, or one half of the mass, its fineness would be only twelve carats, and its value, per ounce, $10.336, that is, the gold which its assay would yield would be worth so much, and no more. The silver, of course, would be worth its usual price besides. The average proportion of silver in the native gold of California is about one-tenth of the whole weight, perhaps a little more than one-tenth. Consequently its average value is not more than $18 60.5 per ounce, Troy, and probably less than that, certainly less in proportion as the silver is greater than onetenth of the whole weight. And from this value is to be deducted the costs of its assay. If the dust be free from all other matter except its alloy or silver, its value at the mint would be as we have stated; but much of the gold dust bought and sold among us is not thus pure. Some has never been freed from the black sand and quartz with which it was originally found; some has more or less quicksilver amalgamated with it; some has been skilfully mixed with other metals, and yet by "picking," or some other process, rendered very difficult of detection. We have seen bars which were worth not over $14 per ounce in consequence of base admixtures, so skilfully colored by some process, that the eye could not detect the cheat. Among the beneficial effects of this establishment of a United States Assay Office at San Francisco, not the least will be that of testing the character and quantity of the gold dust that now forms the principle currency of California. Whilst gold dust has advanced in price, it has, by the introduction of sand, quartz and base metals, become deteriorated in quality. Bankers and others, whose business it is to ship gold dust, remit the best, because it pays most at the Mint, and retain the worst for general circulation here. Merchants can well afford to buy dust without being very particular as to its quality, so long as they can get a corresponding profit upon their wares and merchandise. Bankers too need not be particular as to its quality, so long as they can select the best for remittance and sell the refuse here at a profit of 25 to 50 cents per ounce. The miner will be sure to leave 3 or 4 per cent of sand and quartz in his gold dust when he knows that the Sacramento or Stockton merchant or banker will give him just as much for it per ounce as if it were entirely free from the sand and quartz; and the Sacramento merchant or banker will not hesitate to make an addition to the miner's sand and quartz when he knows that the San Francisco banker or merchant will give him as much per ounce with this edition as without it. And thus it is that the greater proportion of the gold dust which is retained at San Francisco for business purposes, and which is her chief currency, is of such a quality as, if shipped, would subject the shipper to actual loss. This deterioration of gold dust has been gradually and almost imperceptibly going on for some eighteen months past. A year and a half ago, when gold dust commanded but $15 to $15 50 per ounce, its average loss in melting was not over 3 to 4 per cent; but now, when it commands $16 to $16 50, its loss is 6 to 7-thus making a difference of some 8 per cent. All who have been long in California must have observed this deterioration in the quality of gold dust. The recent returns from the Mint show it, and the results at the United States Assay Office in this city show it. We have been furnished by Messrs. Moffat & Co., with the following statement which conclusively shows the extent to which gold dust has become deteriorated, not only in its loss after melting, in consequence of the admixture of sand and quartz, but in fineness, by the admixture of base metals. The standard of fineness of United States coin, is 900 thous. The average fineness of California gold has been ascertained to be 887 thous. Seldom if ever is California gold found to be under 875 thous., or 21 carats. If found to be under 875, it must have been designedly adulturated. The following is a statement of actual results at the United States Assay Office: Average fineness 884 thousandths and average loss in melting 6 1 1-0 per cent. It appears from the above table that the highest degree of fineness is 902 thous, and the lowest 866 thous., a difference of 36 thous.; and that the smallest loss in melting is 2 1-10 per cent, and the greatest 12 1-5, a difference of 10 1-10 per cent. An ounce of gold dust, that loses in melting 2 1-10 per cent, and is 902 thous., yields $18 20. An ounce of the above average fineness and loss, that is 887 and 6 1-10 per cent, yields $17 17. An ounce of gold dust, that loses 12 1-5 and is but 866 thous. fine, yields $15 70; a difference of $2 50 per ounce. It would appear from this that the miner who sells his sand and quartz at $16 per ounce, drives an excellent bargain; but the same cannot be said of the buyer who takes or sends it to the Mint. The following statement exhibits the fineness, loss in melting, and value per ounce of several choice lots of gold dust deposited for assay. 1 lot 1 lot 1 lot 1 lot Thous. Loss, Value, Thous. Loss, Value, fine. per cent. per oz. fine. per cent. per oz. 869 31 $17.33 1 lot... 880 4 $17.46 890 1 lot. 17.94 893 1 lot. 17.58 896 1 lot. 17.67 From which it will be evident that the value of dust depends not only upon its cleanness, but upon its degree of fineness. PAYMENT OF CLAIMS AGAINST MEXICO. The subjoined letter, relative to the payment of the awards lately made by the Commissioners on Claims against Mexico, is of interest to the parties concerned therein :GENTLEMEN:-I acknowledge the receipt of your letter of the 19th instant, making TREASURY DEPARTMENT, April 23, 1851. inquiries on the subject of the payment to the Mexican claimants, under the awards of the Board of Commissioners recently sitting in this city, and particularly whether parties ininterested in awards made in the name of others can, upon proof of such interest, receive their respective proportions from the Department, or whether the whole amount must be paid to those in whose name they were made; and also inquiring the mode how, and time when, the payments would be made to the claimants. And, in reply, I have the honor to state that the 8th section of the act of Congress of 3d March, 1849, providing for the settlement of these claims, says : "That in all cases arising under this act, where any person or persons other than those in whose favor an award has been or may be made, shall claim the amount so awarded, or any part thereof, and shall within thirty days from the passage of this act, or from the date of the said award, notify the Secretary of the Treasury of his, her, or their intention to contest the payment of the same as awarded, and shall file with the District Attorney of the United States a bond, with good and efficient security, to be approved by him, for the payment of the costs and damages arising therefrom, the amount so awarded, and the payment of which is contested as aforesaid, shall be and remain in the Treasury of the United States, subject to the decision of the Courts of the United States thereon; and thereupon the said party so claiming the sum so awarded, or any part thereof, shall be at liberty to file his bill for relief and injunction in the Circuit Court of the District of Columbia, upon principles which governs Courts of Equity; and any injunction thereupon granted by the Courts shall be respected by the Treasury Department; and the said case in equity shall thereupon be conducted and governed in all respects as in other cases in equity." The language of this law is so clear and explicit that the Department cannot hesitate in its decision, that the amount of the awards can only be paid to the parties in whose names they are respectively made, or to their duly appointed attorneys, unless adverse claimants think proper to adopt the legal course pointed out in the above section of the law of Congress, by giving notice to the Department and issuing the needful injunction. The point has been specially brought to the notice of the Department by the holders of script in the Union and Trinity Land Companies, which presents it in the strongest form; for these certificates show on the face of them the exact interest of the parties under the signature of the trustee in whose name the awards of these companies are made The Department, however, has decided that it is not authorized to make any payments to the holders of such script, except they think proper to adopt the legal course pointed out in the above section of the law. The provision of the law is also explicit that all amounts thus litigated must remain in the Treasury until there has been a final legal decision, and the Department would not feel authorized to make any payment in such cases even to a trustee who might be appointed by all the parties claiming an interest. All the payments to the claimants will be made in cash, as the situation of the Treasury does not at present render it necessary for the Department to resort to an issue of 5 per cent stock, which the law of Congress authorized it to create for the purpose of making these payments, and that stock will therefore not be issued unless the future necessities of the Treasury should require it. No payments on account of these claims will be made until the expiration of thirty days after the Board of Commissioners closed the awards, which was on the 16th inst; and during that delay, parties who may have an interest in awards made in the names of others will have the opportunity of taking the initiatory legal steps to secure their rights, agreeably to the provisions in the section of the law already quoted. The payments will be made only at those points where the Treasury may have die posable funds, as the Department does not consider itself bound to incur the risk and expense of transporting funds to other points for the accommodation of the claimants, but, otherwise, it will endeavor to meet their convenience so far as it is in its power. There will be no difficulty in paying any portion of these awards by Treasury drafts on the Assistant Treasurers at Boston, New York, or Philadelphia, at the option of the parties, but such payments can only be made to a limited extent at other points. In all cases where the parties in whose favor awards have been made are indebted to the United States, the amount of such indebtedness will, of course, be retained by the Treasury, agreeable to the express provision of the 6th section of the act of 3d March, 1849. Powers of attorney to receive any money under these awards must not only be legally and formally excuted, but the signatures of the notaries or other parties before whom they may be executed should in all cases be verified in conformity to the law or usage of the State in which such powers may respectively have been issued. The preceding embraces replies to all the points alluded to in your letter. Very respectfully, your obedient servant, WM. L. HODGE, Messrs. CHUBB, SCHENCK & Co., Washington. Acting Secretary of the Treasury. FINANCES OF THE UNITED STATES. RECEIPTS AND EXPENDITURES OF THE UNITED STATES, FROM 1ST OF JANUARY TO 31ST @ Department of Interior, (Indian Department and Pensions). 1,127,592 93 3,049,278 87 Navy 2,298,462 05 Interest, &c., on public debt and Treasury notes. Reimbursement of Treasury notes 7,996 16 Redemption of Treasury notes per act 4th February, 1819... 9,600 00 527 00 Total..... $10,847,698 50 THE BANK OF GEORGIA. The annexed statement exhibts the condition of the Bank of the State of Georgia, in its leading items, on the 5th of April, 1851 |