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JOURNAL OF BANKING, CURRENCY AND FINANCE.
VALUE OF FOREIGN COINS IN THE UNITED STATES. The acts establishing and regulating the mint of the United States, and for regulating coins, have been:
-An act establishing a mint and regulating the coins of the United States, passed April 20, 1792; an act regulating foreign coins, and for other purposes, February 9th, 1793; an act in alteration of the act establishing a mint and regulating the coins of the United States, March 3d, 1794 ; an act supplementary to the act entitled "an act to establish a mint, and regulating the coins of the United States,” passed March 32, 1795; an act respecting the mint, May 27th, 1796; an act respecting the mint, April 24th, 1800; an act concerning the mint, March 31, 1801 ; an act to prolong the continu. ance of the mint at Philadelphia, Jan. 14th, 1818; an act further to prolong the mint at Philadelphia, March 3d, 1823; an act to continue the mint at Philadelphia, and for other purposes, May 19th, 1828 ; an act concerning the gold coins of the United States, and for other purposes, June 28th, 1831; an act to establish branches of the inint of the United States, March 3d, 1835 ; an act supplementary to an act entitled " an act estah. lishing a mint and regulating the coins of the United States," Jan. 18th, 1837; an act to amend an act entitled “ an act to establish branches of the mint of the United States," February 13th, 1837; an act amendatory of an act establishing the branch mint at Dahlonega, Georgia, and defining the duties of the assayer and coiner, February 27th, 1843. The above is a complete chronological list of all the acts regulating coins and coinage, from the organization of the government in 1789, to March 3d, 1845. We have compiled it from the authorized edition of the “ Public Statutes at large, of the United States of America,” just published by Little & Brown, of Boston, by the authority of Congress. The following law passed Congress at the present session, and was approved by the President, May 22d, 1846. As it is of importance, establishing, as it does, the value of certain foreign coins, and as it is not included in the new edition of the laws of the United States, referred to above, we here subjoin a correct copy :
COINS AND MONEYS OF ACCOUNT,
AN ACT TO ESTABLISH THE VALUE OF CERTAIN FOREIGN
AND TO AMEND EXISTING LAWS.
Be it enacted by the Senate and House of Representatives of the United States of America, in Congress assembled, That, in all computation at the custom-house, the foreign coins and money of account herein specified, shall be estimated as follows, to wit: The specie dollar of Sweden and Norway at one hundred and six cents. The specie dol. lar of Denmark at one hundred and five cents. The thaler of Prussia and of the northern States of Germany, at sixty-nine cents. The florin of the southern States of Ger. many at forty cents. The florin of the Austrian Empire and of the city of Augsburg, at forty-eight and one-half cents. The lira of the Lombardo Venetian kingdom and the lira of Tuscany, at sixteen cents. The franc of France and Belgium, and the lira of Sardinia, at eighteen cents six mills. The ducat of Naples at eighty cents. The ounce of Sicily at two dollars and forty cents. The pound of the British provinces of Nova Sco. tia, New Brunswick, Newfoundland, and Canada, at four dollars. And all laws inconsistent with this act, are hereby repealed.
REVENUES AND EXPENDITURES OF ENGLAND AND FRANCE. The following contrast drawn by the Baron Charles Dupin, is highly complimentary to England, and is valuable as illustrating the principles upon which British legislation has been based:
In 1816, the British government, in perfect peace, victorious and tranquil, spent £86,000,000 sterling, 110 part of which was applied to the extinction of the national debt.
In 1824, its expenditures exceeded £67,000,000. In 1844, the Intest period to which the accounts have been completed, its expenditure was reduced to £55,000,000.
In 1816, the interest of the national debt amounted to £33,500,000; it is now reduced to £26,000,000, and £4,000,000 on temporary annuities, which are gradually disappearing year by year. Whilst Great Britain was obtaining these splendid results, she was effecting a vast reform in the manner and extent of her public burdens.
Between 1815 and 1841, a balance being struck between taxes increased and taxes diminished, this power has abolished an amount of £24,000,000 of taxation, and last year suppressed a further sum of £6,000,000.
The taxes abolished are those, especially, which paralyze industry, and oppose obstacles to the superiority of British commerce over that of other nations. In effecting this, do not imagine that England has abstained from carrying out gigantic enterprises, sustaining mighty struggles, and defending her wide-spread dominions with an armed hand. She possessed in India, in 1816, 80,000,000 of subjects; she now numbers 100,000,000. Canada revolted; the revolt was suppressed by force. Her will was contested in the Syrian question ; her ships decided the matter. China resisted the odious commerce in opium; an expedition after the fashion of Cortes subdued the Celestial Empire. Two seas existed, the entrance of which was not under the command of Eogland, the Chinese Ocean, and the Red Sea, Aden and Singapore have completed the chain of forts which bind the commerce of the world.
In 1816, England was, without exception, the state most heavily burdened by the weight of taxation. She is now, in proportion to her wealth, less taxed than France. Thirty years ago, England spent £80,000,000 sterling, while France spent but the half. In 1844, England spent £55,000,000, whilst France expended £57,500,000.
Let us observe, at the same time, from one single fact, the enormous difference in the resources of the two countries for the supply of such heavy public burdens. Looking still at 1844, as a means of comparison, I lind, says Baron Dupin, " that the commerce of England, favored by a skilful system of taxation, is so great, that the mere amount of the produce of the soil and industry of Great Britain sold to foreign nations, in eleven months, is equal to the total annual expenditures of the Treasury. On the other hand, in France, we only behold an unlimited increase in the taxation, and we have reached a point at which we require the amount of twenty-three months of the sale of our produce to foreigners to pay our expenditure, whilst eleven months, only, suffice to the English.”
SAVINGS' BANKS IN THE UNITED KINGDOM. The Savings' Banks in England, Scotland, Wales, and Ireland, are regulated by the statutes 9 Geo. IV., c. 14; 5 and 6 Will. IV., c. 57; and 7 and 8 Vic., c. 83.
The amount allowed to be invested by any one depositor cannot exceed £30 in any one year, ending on the 20th of November, nor more than £150 on the whole ; when the sum amounts to £200, no interest is payable. The rate of interest payable to the trustees and managers is £3 5s. per cent per annum, and that payable to depositors must not exceed £3 Os. 10d. per cent per annum. Trustees or Treasurers of any charitable provident institution or society, or charitable donation, or bequest for the maintenance, education, or benefit of the poor, may invest sums not exceeding £100 per annum, and not exceeding £300, principal and interest included. Friendly societies, whose rules have been duly certified, pursuant to the acts of parliament relating thereto, may deposit the whole, or any part of their funds. The several provisions of these statutes, as far as they relate to the deposits and depositors, will be found in the rules of every Savings' Bank.
On the 20th of November, 1844, there were 577 Savings Banks established in the United Kingdom, &c., viz: 504 in Great Britain, and 73 in Ireland; and the amount of deposits, including interest, was £29,504,864; the number of accounts open, 1,012,047, of which 564,642 were those of depositors under £20 each, the average amount being under £7, and the number of depositors exceeding £200 each was only 3,044. If the number of friendly societies in direct account with the Commissioners for the Reduction of the National Debt be added, the gross total will show the number of accounts to be one million, twelve thousand, four hundred and seventy-five, and the sum invested, thirty-one millions, two hundred and seventy-five thousand, six hundred and thirty-six pounds. Since the 20th November, 1844, 12 Savings Banks have been established, viz: 9 in England; 2 in Scotland; and 1 in Ireland.
SUMMARY OF SAVINGS' BANK IN ENGLAND, SCOTLAND, WALES, AND IRELAND. England, Scotland, Wales, and Ireland, have a population of 26,787,004; and there were on the 20th November, 1844, 577 Savings Banks, containing
MOVEMENT OF THE OHIO BANKS. The Ohio State Journal publishes a statement of the condition of the Banks of Ohio on the first Monday of May, 1846, from which we give the following aggregates: RESOURCES.
LIABILITIES Bilis Discounted,.. .$8,031,894 49 Circulation, ...... $4,785,295 00 Specie,... 1,483,271 17 Due to Banks,
976,917 10 Eastern Deposits,
916,025 56 Due Depositors,.... 2,563,937 83 Notes of other Banks, 987,254 35 Contingent Fund,..
295,911 93 Due from other Banks,..... 599,524 99 Bonds with State Treasurer, 494,169 69 Bonds with State Treasurer, 772,707 87 State Tax for six months,.. 12,799 59 Other Resources,...... 1,088,274 19 Other Liabilities,....... 682,374 67
Total Resources....... $13,878,952 61
Immediate Liabilities... $9,811,405 62
Total Liabilities, $13,878,952 42 Average Capital for six months, $5,178,984 08. Tax paid on each $100 of stock, 49.4 cents. Tax per annum on the dollar of stock, 4.94 mills.
NEW USURY LAW OF NEW YORK. The following “ Act Concerning Usury” was passed at the last session of the General Assembly of New York, and affirmed by the Governor, April 8th, 1846 :
Sec. 1. Whenever in any action brought on any contract or assurance for the payment of money hereafter made, it shall appear that a greater rate of interest has been directly or indirectly reserved, taken or received, than is allowed by law, the defendant shall recover his full costs, and the plaintiff shall forfeit three-fold the amount of the interest unJawfully reserved or taken, and no more.
Sec. 2. Whenever a greater rate of interest than is allowed by law, shall hereafter be paid, the party paying the same may recover back three-fold the amount of the lawful interest so paid, and no more.
Sec. 3. So much of the second and third sections of the thirty-fifth chapter of the Revised Statutes, as is inconsistent with this act, is hereby repealed.
JOHN RANDOLPH AND THE MERCHANTS' BANK. We find the following " anecdote" going the rounds of the newspaper press, credited to the State Register. We know not on what authority it is given, but it is so characteristic of the eccentric individual named, that we can scarcely doubt its authenticity.
“In New York, many years ago, during a suspension of specie payments, John Randolph of Roanoke, went there on business. Having a check on the Merchants' Bank, for a large sum, he called for the cash, and would take nothing but the specie, which the tellers obstinately refused to pay. Randolph disdained to bandy words with either clerks or principals; believing himself swindled, he withdrew, and had a hand-bill printed and circulated all over the city, which set forth that John Randolph of Roanoke, being on a visit to New York, would address his fellow-citizens, that evening, on the banking system, from the steps of the Merchants' Bank.' Long before the hour, a crowd began to gather—which increased to a fearful number, when the officers of the bank taking the alarm, sent Mr. Randolph his money in gold; who received it with a sardonic smile and the apt quotation: 'Chastatiam invention aurum reliquit.' He left New York next morning in a stage before day; and, his being unknown in that city, the hand-bill passed off for a hoax on the public.”
STATISTICS OF POPULATION.
POPULATION OF LONDON, BY THE LAST CENSUS: COMPARED WITH THAT OF ALL THE CITIES AND CHIEF TOWNS OF ENGLAND AND WALES.
The last census of London, taken in 1841, numbered 2,103,279, and by this time, no doubt, it will have reached two millions and a quarter. Now," by and by, is easily said," as Hamlet says, and so is two millions and a quarter; but it is not so easy to realize it. Some years ago, Cooper, the celebrated actor of his day-before railroads were intro. duced, or steamboats went so fast—laid a wager, of the whole profits of his engagement, against a like amount, that he would go from New York to Boston, and play there two weeks, before his opponent could count and mark down one million. And he won his bet. One day's hard scratching served to prove that it would take upwards of twenty days to perform the task, even if a man could retain his senses during the monotonous operation. And London contains two millions and a quarter of a million, within a periphery of eight miles! Think of it for one moment, and then compare the amount of the population of London with that of
THE POPULATION OF ALL THE CITIES OF ENGLAND AND WALES, IN 1841. Bangor, 7,232 | Norwich.......
62,344 Bath, 55,487 | Oxford,....
23,834 Bristol, 145,187 Peterborough,
7,146 Canterbury, 20,629 Ripon,...
5,461 Carlisle, 24,541 Rochester,
41,422 Chester, 25,613 St. Asaph,..
3,338 Chichester, 8,512 St. David's,..
2,413 Coventry, 41,407 Salisbury,
10,086 Durham, 14,151 | Wells.....
5,443 Ely,. 6,825 Winchester,
10,732 Exeter,..... 39,780 Worcester,
30,961 Gloucester, 18,551 York, .......
10,921 London, Litchfield,
Total,............... 678,943 Llandaff,..
1,276 The population of all the Cities of England and Wales, is, therefore, not one-third of the population of London. There are fifty-two counties in England and Wales, and if we compare the population of London, with that of the other fifty-one capitals, or chief cities and towns of the counties of England and Wales, it will be seen from the table below, that altogether their population is very much short of one-half of the population of London. Counties. Chief Towns. Pop. in 1841. Counties.
Chief Towns. Pop. in 1841. Anglesey,
Holyhead........ 3,869 Lincolnshire ........ Lincoln........ 16,172 Bedfordshire ......... Bedford,.. 9,188 Merionethshire,.... Dalgerty, 2,016 Berkshire, Reaeing,... 21,163 Monmouthshire, ... Monmouth, ... 5,446 Breconshire,..
7,430 Montgomeryshire,. Montgomery,. 1,208 Buckinghamshire, Buckingham,.. 4,054 Norfolk, ..... Norwich,...... 62,344 Caermarthenshire,, Caermarthen,. 9,526 Northamptonshire, Northampton, 21,242 Caemarvonshire,... Caernarvon,.. 8,001 Northumberland,.. Newcastle..... 100,991 Cambridgeshire, ... Cambridge,... 24,453 Nottinghamshire,. Nottingham,. 60,170 Cardiganshire,.. Cardignan,.... 2,925 Oxfordshire, ........ Oxford, ....... 23,834 Cheshire,...... Chester,.... 25,613 Pembrokeshire...... Pembroke .....
7,412 Cornwall,.... Launceston,.. 2,460 Radnorshire........ Radnor........ 478 Cumberland,.. .. Carlisle......... 24,453 Rutlandshire........ Oakham, 2,726 Denbighshire, Denbigh, 8,045 Shropshire,...... Shrewsbury,..
23,590 Derbyshire.......... Derby,.... 36,395 Somersetshire,..... Wells......... 5,443 Devonshire,......
39,780 Staffordshire......... Stafford, ....... 10,730 Dorsetshire, Dorchester..... 6,186 Suffolk,
Ipswich........ 25,384 Durham,..... Durham,..., 14,151 Surrey,
4,761 Essex, Chelmsford... 19,045 Sussex,..
Chichester, .... 8,512 Flintshire,.. Flint,...
1,961 | Warwickshire,.... Warwick,.. Glamorganshire,... Cardiff,.. 10,077 Westmoreland, Appleby,. Gloucestershire,.... Gloucester,.... 18,551 Wlitshire, .... Salisbury,
10,086 Hampshire, Winchester,... 10,732 Worcestershire,.... Worcester,.... 30,961 Herefordshire,...... Hereford,...... 10,921 Yorkshire............ York............. 32,718 Huntingdonshire,... Huntingdon... 3,507 Middlesex,... London,....... Kent....... Canterbury,... 20,629 Lancashire, Lancaster,.... 13,531
Total,................... 870,708 Leicestershire, ..... Leicester, ..... 51,186
We may add to all the chief towns or cities of the fifty-one counties, the proverbially teeming population of the five largest manufacturing towns of England. Manchester, Lancashire,
353,390 Liverpool, do.
319,253 Biroringham, Yorkshire,
182,922 Leeds do
152,091 Sheffield, do
Population of the five manufacturing towns,........
Still wanting ........
To make up the population of London,....
POPULATION OF THE GERMAN CITY OF BERLIN. The population of the city of Berlin is 352,000, 182,000 males, and 170,000 females. Among the latter there are 10,000 prostitutes, 12,000 criminals, and 6,000 persons receiving public charity to the amount of 144,000 rix dollars. It contains 5,000 weavers, having, on an average, four children each, and being all paupers, are unable to procure brcad for their families. This makes an additional number of 30,000 poor, besides 2,000 pauper children, and 2,000 orphans supported by government. The official statistics give the following recapitulation :--10,000 prostitutes ; 10,000 sick in consequence of vice; 10,000 female servants ; 2,000 natural children (foundlings) ; 12,000 criminals ; 1,000 living in almshouses ; 200 prisoners of the police ; 6,000 receivers of public alms; 20,000 weavers and children; 2,000 charity children ; 1,500 orphans; 6,000 poor sick in the hospitals ; 4,000 beggars ; 2,000 convicts of state prisons and houses of correction. One hundred and siz thousand and seven hundred poor, sick, criminal and debauched people in the most literary and educated city of Germany!