and their nett revenue. This statement shows, that if all the canals were paid for, the nett revenue over the expenses of repairs would have been $1,657,427 11, for the fiscal year ending 30th of September, 1845. It appears that the tolls of the lateral canals are so nearly equal to the expenses of repairs, that the nett revenue of the Erie and Champlain Canals differs only $6,000 from all the canals besides.

A TABULAR STATEMENT OF THE TOTAL RECEIPTS FROM TOLLS AND RENT OF SURPLUS WATER, AND OF EXPENDITURES FOR ALL PURPOSES, IN EACH YEAR, FROM 1826 TO 1845, INCLUSIVE,

SHOWING THE DIFFERENCE BETWEEN THE RECEIPTS AND THE EXPENDITURES.

$28,661,548 17 $39,977 87 $28,701,526 04 $1,427,341 69 $7,216,953 33

In 1834 and 1835, the expenses for the repairs and maintenance of the canals averaged $522,711 for each year. This embraced the Erie, Champlain, Oswego, Cayuga and Seneca, Chemung and Crooked Lake Canals.

In 1837 and 1838, after the Chenango Canal was completed and added to the six canals before named, the expenses for repairs and maintenance averaged $615,510 for each of the two years referred to.

From 1841 to 1845, after the Oneida Lake Canal, and fifty-two miles of the Genesee Valley Canal were added, the expenses have averaged a little less than in 1837 and 1838, being $612,642 for each of the last five years. The expenses of the last year are $125,464 above the average of the five years. The average expenses of the Erie and Champlain Canals, for five years, is $483,127 09 for each year; the expenses of 1845 being $99,023 above the average of the five years.

The tolls of the Erie and Champlain Canals, for the last five years, average $1,988,726 32 for each year. The average for the preceding five years, that is, from 1836 to 1840, inclusive, is $1,464,845 63. The tolls of 1845, on the Erie and Champlain Canals, are $235,540 above the average of the last five years, and $759,421 above the average of the five years from 1836 to 1840.

The tolls of all the canals average for the last five years, $2,099,233 07, and for the preceding five years from 1836 to 1840, $1,527,844 11. Average increase for the last five years over the preceding five years, $571,388 96.

JOURNAL OF MINING AND MANUFACTURES.

TO PAPER MANUFACTURERS.

THE Southern States have of late evinced a considerable interest in the subject of manufactures; and we notice by the journals from that region, the establishment of various branches in several of the slave States. A gentleman, residing at Augusta, Ga., wrote us some time since, in regard to the establishment of a paper-mill in that city, requesting us to call the attention of paper-makers to the facilities that would be afforded to a competent person to engage in the business at Augusta; which we should have done before, but the letter was mislaid, and the subject passed out of our mind. We therefore give below a large part of the letter, as it seems to offer extraordinary advantages to any one who may feel disposed to accept the proposition of the writer.*

FREEMAN HUNT, ESQ.

AUGUSTA, GA., July 13, 1846.

DEAR SIR-Although a stranger to you, save from being one of your subscribers, I have taken the liberty of inquiring, whether you can inform me of a good paper manufac turer who would like to come south, and enter jointly, with a responsible partner, for its manufacture. This place, situated at a central point of communication, with Savannah and Charleston on the one side, and an immense country, including two-thirds of the best populated portion of Georgia on the other, will very soon have a canal completed, which has been built at an expense of more than $150,000, expressly for manufacturing purposes. It has seemed to me, that no more profitable enterprise could be entered into than this, for the following brief reasons. We have not a single mill in Georgia or Alabama. The whole supplies of paper consumed in those States, are procured from northern places, with the exception of a small portion supplied by two mills working at Greenville, S. C., the principal supplies from those mills being sold at this place. A mill at Augusta, properly managed, would have a decided advantage over one at any other place, and particularly those of Greenville, as the whole material for manufacturing, and the paper when manufactured, has to be transported by wagons a distance of over 200 miles. The facilities for procuring rags, &c., will be very great, owing to our connection by railroad, via a large country in Carolina and Georgia, and our river connection with Savannah. Labor, also, is cheap with us, and all the expenses of living are low. This, added to the extreme healthiness of the city, would, I think, make it desirable for any person who could be aware of the many advantages which are offered to enter into it.

**** I am fully aware of its success, and would enter one-half with a practical workman who would come out. Printing and wrapping-paper could be sold in immense quantities, and also good manufactured writing-paper.

*The name of the writer will be given on application to the Editor of the Merchants' Magazine.

+Connected with a railroad through its very centre, and by water communication for small boats in another direction.

PROGRESS OF INVENTION IN THE UNITED STATES.

In the Merchants' Magazine for June, 1844, we compiled, from the Patent Report of Mr. Ellsworth for 1843, and other sources, a few facts illustrative of the "Progress of Invention and Manufactures in the United States." This article, Mr. Putnam, the intelligent American bookseller in London, published in his " American Facts," which embraces "notes and statistics relative to the government, resources, manufactures," etc., etc., of the United States, adding the following statements in regard to the inventive genius of our countrymen, closing with a parliamentary document from England, which we also give below:

A great part of the machinery used in cotton-mills in England, is either entirely American in its origin, or has American improvements that are essential to its perfection. The card-making and reed-making machines are American inventions. The nail-machines, the screw-machines, the pin-machines, the hook-and-eye machines, all originated in the United States. The present improved method of bleaching fabrics of all kinds, which has so essentially simplified the former tedious and expensive process, is the invention of Mr. Samuel W. Wright, formerly of New Hampshire, who has been the originator of several labor-saving machines, generally adopted in this country. He has recently perfected a process for making paper from straw, that bids fair to revolutionise the present mode both as regards quality and cost.

EXTRACT FROM THE REPORT ON EXPORTATION OF MACHINERY, (HOUSE OF COMMONS,) APRIL, 1841.

Question 1544. "Chairman.-Are we indebted to foreigners, to any great extent, for inventions in machinery? Answer.-I should say that the greatest portion of new inventions lately introduced in this country have come from abroad; but I would have it to be understood, that by that I mean, not improvements in machines, but rather, entirely new inventions. There are certainly more improvements carried out in this country; but I apprehend that a majority of the really new inventions, that is, of new ideas altogether in the carrying out of a certain process by new machinery, or in a new mode, have originated abroad, especially in America."

AROMATIQUE VEGETABLE DISTILLATIONS.

The application of chemistry to the arts of life, has produced a curious result, and one likely to be valuable in cookery and commerce. M. Milot, of the Academy of Sciences, has succeeded in obtaining by distillation, in a pure, colorless, and liquid form, all the properties of the various culinary vegetables. Thus he can put up a bottle of carrots, parsnips, turnips, or onions, and you may carry it all over the world, certain of having with you the true flavor of the vegetable. A table-spoonful is enough for one pound of meat. The secret lies in the mode of distillation, by which the offensive parts of the vegetable are left. It is already an object with commercial men to export these essences, which are termed aromatique, to the French colonies, and with the government there is an intention of using them extensively in the navy.

COTTON FACTORY IN FLORIDA.

A few enterprising citizens of Pensacola, established in Arcadia, a short distance from the former place, about a year ago, a cotton factory. The Pensacola Gazette says:"The building is ninety-four by thirty-eight, two stories high from attic to basement, nine hundred and sixty spindles, forty operatives, all black girls, from fifteen to twenty years, and are mostly all married, and look as happy and contented with their vocation as it has been our lot to see anywhere; they are comfortably lodged, well fed, well clothed, and kindly treated; twenty-four looms, making part twilled and part cotton cloths, averaging four thousand yards a week, and will shortly increase to six thousand, or three millions per year. The cost of the building and machinery is something near $60,000, and five citizens here are the proprietors."

INCREASED DEMAND FOR DIAMOND-DUST.

The demand for diamond-dust, within a few years, has increased very materially, on account of the increased demand for all articles that are wrought by it; such as cameos, intaglios, &c. Recently there has been a discovery made of the peculiar power of diamond-dust upon steel-it gives the finest edge to all kinds of cutlery, and threatens to displace the hone of Hungary. It is well known that in cutting a diamond, (the hardest substance in nature,) the dust is placed on the teeth of the saw, to which it adheres, and thus permits the instrument to make its way through the gem. To this dust, too, is to be attributed solely the power of man to make brilliants from rough diamonds; from the dust is obtained the perfection of the geometrical symmetry which is one of the chief beauties of the mineral, and also that adamantine polish which nothing can injure or affect, save a substance of its own nature. The power of the diamond upon steel is remarkable it is known to paralyze the magnet in some instances-and may there not be some peculiar operation upon steel with which philosophers have not yet taught us to be familiar? How is it that a diamond cast into a crucible of melted iron converts the latter into steel? Whatever may be said, it is evident that the diamond-dust, for sharpening razors, knives, and cutlery, is a novelty which is likely to command the attention of the public, whether or not it is agreed that there is anything beyond the superior hardness of the dust over the steel to give that keenness of edge that has surprised all who have used it.

MANUFACTURE OF PRESSED GLASS TUMBLERS.

The following comprehensive account of the manufacture of pressed glass tumblers, is derived from a correspondent of the Christian Mirror :

"In the first place, the workmen have a brass mould, consisting of a solid mass, about as large over as a half-peck measure, containing a hollow in it exactly of the form of the tumbler to be made, with a follower of brass of the same form, but so much smaller as to fit the inside of the tumbler. When the two parts of the mould are put together, the space between them is the exact thickness of the vessel required. In the process of manufacturing, three men and two boys are required. The first thing done, is for one of the men to dip an iron rod in the melted glass, and move it about until he has a sufficient quantity of the fluid mass on the end of his rod; he then holds over the hollow of the mould, and, with a pair of shears, cuts off what he judges to be just enough to constitute the tumbler. Instantly the other man brings down the follower with level power, and the melted glass is so compressed as to fill the cavity of the mould. He then turns his mould bottom up, with a little blow, and the tumbler drops red hot upon the stone table. One of the boys, with an iron rod, having a little melted glass on its end, presses it on the bottom of the tumbler, and it slightly adheres. He then holds it in the mouth of a glowing furnace, turning it rapidly, till it is almost in a melted state, when the third man takes it, and whirling the rod and tumbler on a sort of arm of a chair, he holds a smooth iron tool against the edge of the tumbler till all the roughness is removed from its edges, when a boy takes the rod from him, and, by a slight stroke on the end of it, drops the tumbler, and places it in a hot oven to cool gradually. These five hands will make a beautiful tumbler in about forty seconds, or about one hundred in an hour."

WHIP MANUFACTORY AT CAMDEN.

An extensive whip manufactory has been established on the Burlington road, four miles from Camden, N. J., where large quantities of whips are made-from the cheapest kind up to the most elegant, with silver-mounted handles-for supplying the western and southern country, and also for export to London. The proprietor of the factory is Mr. Samuel Fitch.

JOURNAL OF BANKING, CURRENCY AND FINANCE.

DEBTS OF THE STATE OF NEW YORK.

THE following statement embraces the debts of all the canals, the debts of the railroads which have failed to pay interest, and the debt of the general fund, being the aggregate of the direct debt on which the State is now paying interest. The first column shows the amount of principal payable in each year; second, the interest payable in each year on the whole debt; third, the amount of principal and interest payable in each year, from 1st of June, 1846, to the maturity of the stock or debt. This table is a consolidation of three tables in the valuable report of A. C. FLAGG, Esq., the Comptroller of the State, made to the Convention, July 7th, 1846:

FOREIGN BANKING ESTABLISHMENTS.

ST. PETERSBURGH. Accounts are kept here, and, for the most part, throughout Russia, in rubles of 100 copecks. The banks of St. Petersburgh are

1. The Imperial Loan Bank, established in 1786, among the statutes of which are the following:-the capital of the bank shall consist of thirty-three millions of rubles, twentytwo millions for the nobility, and eleven millions for the towns. The bank shall be immediately under the Emperor. It shall lend money at 5 per cent interest, and pay 4 per cent interest on deposits. It shall grant assurances on houses, &c., at 14 per cent premium, on three-fourths of the value of the property as fixed by sworn appraisers. It shall discount bills, but not at a higher rate than per cent per mensem.

2. The Assignation Bank, which is a bank of issue. And—

3. The Commercial Bank, established in 1818, which is, to a certain extent, a transfer deposit bank, as it receives in deposit, gold and silver bullion, and keeps a current account of it at an annual charge of per cent, and transfers such bullion in sums not less than 500 rubles, from one account to another, also at a charge of per cent. These banks have agencies in all the most important places of trade throughout Russia.