Committee on Arbitration. JAMES GALLATIN, National, Chairman; John Thompson, Irving; George W. Duer, State; F. A. Platt, Corn Exchange; E. J. Blake, Mercantile; Wm. Halsey, Seventh Ward; Parker Handy, Ocean; R. W. Howes, Park; C. F. Hunter, People's; R. H. Haydock, Market.

The salary of the manager of the Clearing-house, GEORGE D. LYMAN, which was cut down last year, has been again raised to $4,000:

AGGREGATE TRANSACTIONS OF THE CLEARING HOUSE FOR SIX YEARS, ENDING OCTOBER, 1859; TO WHICH WE ADD THE BANK CAPITAL OF THE CITY FOR THE MONTH OF SEP

The following interesting article on the subject of Japan coins and coinage generally, which we copy from the South Carolinian, of Columbia, is ascribed to the pen of the learned assayer of the North Carolina miut :

The appearance of Japanese in the United States, and constant commercial intercourse with the countries of the East, convince us that many arts generally attributed to the invention of distinct eras in Europe are solely copies of ancient practices, which have been quietly introduced into modern service.

The employment of gold and silver for mercantile exchanges is recorded from early ages. We would not suggest that all the arts of coinage as conducted in mints at the present day are identical with ancient customs; but the value of the precious metals are appreciated exactly by the same definite principles. Such arts, simplified for the intercourse or the necessities of commerce, have been varied by advances in physical knowledge and taste.

An opportunity has been recently afforded to examine a quantity of Japanese coins, both gold and silver, of different values, by the courtesy of a gentleman connected with the house of BALL, BLACK & Co., in New York, where large oval cobangs of gold and itzebus of silver, cast in moulds and duly impressed for general distribution, present an earlier type of coinage than our own; though conducted by different processes, each proposes to perform the same important offices for trade.

Exertions were made at the mint of the United States in Philadelphia to satisfy the special demands of the Japanese envoys with regard to the examination and decision of the exact values of their coins compared with those of other commercial countries, while we have been offered by them some means to comprehend an Eastern plan for money accounts. None of the Japanese ambassadors sent to this country were instructed in the arts of coinage, but were directed to have assays made of entire coins, possessing little faith in processes conducted upon so small a scale as we confide in from modern experience. The chief men could give no information with regard to their own practices in mintage, nor whether their artisans used mineral acids or not; but after the affair was satis. factorily over, they stated to the officers of the mint that, although the standards are kept secret in Japan, they aim to make their gold equal to 573-thousandths fine, (ie. 57.3 per cent of pure metal.) So they know something about assaying. In order to accommodate the envoys and fulfill the special instructions by which they acted, the assayer at the mint made preparations to ascertain the ex

act amount of fine gold or fine silver in each piece of coin separately, and for that purpose used large cupels for the assay of whole coins, as the Japanese urged; while at the same time he put some of our own coins through the same clumsy process. Strange to them, in all instances the result proved the same as by the ordinary more easy trial of a smaller portion, (the half of a French gramme;) the fact being assured, by constant experience in metallurgical manipulations, that any portion of a coin or bar of well melted metal contains exactly the same proportions throughout its mass. The exceptions to this are rare and well understood.

The Japanese gold coins are alloyed with silver, except a minute fraction of copper. The time required by their insisted upon processes for separating the metals was much greater than by those of our modern art; but the Japanese ambassadors patiently sat it out during seven hours, and expressed great pleasure at the result, which proved their practices and our own to manifest precisely the same quality of fine metal in their coins.

The dignitaries dined at the mint on raw fish, half-boiled chicken, green peas, and rice; and, during the operations for trials of their coins, made frequent reference to their pipes, puffing the smoke through their nostrils, not long at a time, though quite contrary to mint usage.

By means of neat ivory balances, formed like a Roman steel-yard--if one may say so--the Japanese tried the relations of the standard troy weights at the mint to their own metrical proportions. Ten grains troy were found to equal 1.7 canderine; 100 grains troy equaled 1.7 mas; hence the canderine equals 6 grains troy very nearly. Their system of notation is decimal-10 canderines 1 mas; 10 mas - 1 tael.

There is a question now proposed, whether the word "tael" has its root in the old "tekel" found among the Chaldees, equivalent to the "shekel" of the Hebrews. We are told both terms signify "to weigh." In Siam, to this day, they have a “tical ;" "tekaul;” and a “tael" in China. We know, from the best commentators on the Hebrew Scriptures, that the "shekel," the money of account of ancient Tyrian commerce, was held equal to one-half ounee avoirdupois weight, the equivalent of 219 grains of troy standard.

In remote ages, as now in China, the common standard of fineness was as near an approximation to perfect purity in the metals as it was possible for the refiner to obtain by a dry process. A full and perfect ounce avoirdupois, of fine silver. (i. e., 438 grains troy,) reduced to modern moneys, as most intelligible to us, is worth 120 cents. The half ounce, or "shekel weight," the old Hebrew money of account, (= 219 grains troy,) thus appears equal to 60 cents of our currency, which is its accredited value.

By a fanciful belief in the power of numbers, or from some practical advantages in exchanges, several Eastern nations, instead of dividing their standard by two, have subdivided the silver ounce by three; so that the silver rupee of India, and the silver itzebu of Japan, are found very nearly of the same value as 40 cents of our money, precisely equivalent in value to one-third of the commercial ounce avoirdupois of uncoined but purified silver. The proportions called avoirdupois by us are well known throughout China, as well as in all the inland trade of Asia and Africa. Such close relations between ancient and modern ratios in weight become highly important in our trade with Eastern nations. By proper and equitable adjustment, the standard of the United States may be inade to regulate their various currencies without the incessant destruction of expensively prepared coins, which now prevails, for want of one common standard for national reference and adjustment.

The whole system of metallic valuation depends upon weights, as measures of quantities, qualities, and proportions. Equal weights of the precious metals of the same standard of purity or fineness are equivalent in value everywhere throughout the commercial world. Their mercantile worth does not depend upon manufacture or coinage, which affords an undoubted convenience for the people in the ordinary payments and transactions of trade. Yet the values of gold and silver are intrinsic, and it has sometimes been found that bars of fine gold bear

a premium above coins for exportation, on account of facilities in transportation, and calculations at a distant market.

The limited intercourse of the Japanese hitherto with foreigners may have caused the introduction of certain alterations in their ordinary proportions to control a contracted trade with Holland. Their coins are now found very much deteriorated in quality from the real standard of fineness common among Eastern nations; being composed mostly of equal parts of fine metal and alloy. The Japanese certainly understand the art of presenting a very fine surface to coins of inferior qualities, by a process called "pickling," well known among workers in precious metals.

We must ascertain something more of the special character of their com mercial relations with strangers before we can decide the causes which have led to obvious changes in their currency within a limited period, for the values in the gold and silver coins of Japan have certainly undergone some recent alteration. There is one point of high importance which seems wanting in modern Japanese currency-the adjustment of a fixed commercial proportion between gold and silver pieces.

The ratio which (after several trials of different proportions) was decided upon for the practice of the mint of the United States, was that of the avoirdupois of Spain, 16 to 1; which is found also to prevail throughout the commerce and exchanges of the vast empire of China. Some irregularities, either by intention or accident, have been admitted into the proportion of the value of silver to gold, which now expose the Japanese to great loss in exchanges, and have obliged them to place restrictions upon the exportation of gold.

BANKS IN PORTLAND.

The Portland banks have each declared a semi-annual dividend of 4 per cent, excepting the International, which is 34 per cent:-

The former boards of directors have been rechosen, excepting at the Manufacturers' and Traders' Bank, where JOSHUA ROBINSON, Esq., declined, he having faithfully served the bank since its organization, twenty eight years, both as director and president. There is said to be but one similar case of long service in the Portland banks, and that is NATHANIEL WARREN, Esq., at the Canal, who has served over thirty years as a director.

The stockholders of the Merchants' Bank have voted to authorize the directors to petition the Legislature for an increase of capital to the amount of $75,000. This will make the whole capital stock $300,000.

NEW YORK STATE VALUATION AND TAXES.

The following is a statement showing the aggregate valuation of property in each county in the State for the year 1860, as fixed by the Board of Equalization of Taxes, in pursuance of chapter 312 of the laws of 1859; also showing the amount of State tax levied and to be levied for the years 1859 and 1860:

TAX OF 1859-2 MILLS.

For schools, of a mill, per chapter 180 laws of 1856.

For completion of canals, of a mill, per chapter 149 laws of 1859.
For general purposes, 1 mills, per chapter

laws of 1856.

TAX OF 1860-3 5-6 MILLS.

For schools, of a mill, per chapter 180 laws of 1856.

For canal debts, of a mill, per chapter 271 laws of 1859.

For completion of canals, of a mill, per chapter 213 laws of 1860.

For canal debts, 1 mills, per chapter 494 laws of 1860.

For general purposes, 13 mills, per chapter 425 laws of 1860.

NEW YORK CITY QUARTERLY BANK RETURNS.

The quarterly bank returns of the banks of this city, showing their aggregate liabilities and assets on September, 1860, as compared with 1852, 1858, and 1859, are as follows: