3. The Mobile and Chicago Rail-road. 4. The Alabama and Tennessee Railroad.

5. The Virginia and Tennessee Railroad.

6. The Richmond and Danville Railroad.

7. The Southwestern Georgia Rail-road. 8. The Charleston and Hamburg Railroad.

of Mexico to Vera Cruz, the whole coast mail line from New-York around to the point of intersection, off Tehuantepec, would be saved.

The adoption of a route comparatively domestic would diminish greatly the tendency to collision between our citizens and the punctilious authorities of the European dependencies in the West Indies.

9. The Savannah and Florida Rail-road. The saving on interest and insurance Each of these nine radial lines, with upon the precious metals, would constiits interior connections, will contribute tute another principal subject of advanto the commercial intercourse between tage; whilst the reduction of fares, the the states and cities of the South and promotion of health and comfort to the Southwest and the Pacific. The im- immense number of persons annually mense resources upon the enumerated passing between the Atlantic and Pacific routes, and the competition amongst them, states, all demand the earnest consiwill reduce greatly the charges and pro- deration of the government. mote the comfort of the travel upon the Atlantic section of the route to California. The united intercourse of California and Mexico will have a similar effect upon the cost of crossing the Gulf of Mexico.

The reduction of ocean steaming upon the Pacific coast will contribute to the same result.

It will lessen greatly the cost of mail transportation, because the mail being already paid for through the United States to New-Orleans, Mobile and Pensacola, and provided for across the Gulf

It is therefore obvious, that the effect of a free way of communication for the citizens of the United States across the Isthmus of Tehuantepec, would be to shorten the time, reduce the cost and increase the comfort, of their intercourse with the prosperous and expanding states of the Pacific; and if the subject has been placed in the point of view which it merits, it is obvious that the American people are far more interested in securing the right of free passage across the Isthmus of Tehuantepec than the proprietors of the Garay grant.

ART. II.-WISCONSIN.

POPULATION, RESOURCES AND STATISTICS.

THAT part of the territory of Michigan lying west of the Menomonee River and the middle of Lake Michigan, was, on the 4th day of July, 1836, constituted by an act of Congress as the Territory of Wisconsin. In the year 1848, Wisconsin was admitted as one of the states of the Union. On the northern border of this state is Lake Superior-the largest body of fresh water in the world; and on the east, Lake Michigan-second only to Lake Superior in size-but vastly more important to Wisconsin, as forming a link in the great chain of inland seas that connect her with the east. Besides these vast bodies of water, smaller lakes of crystal clearness are scattered promiscuously over the surface of the state. Many of them are of the most romantic nature,

presenting to the eye scenery that is indescribable, even by the pencil of the artist.

The Mississippi River forms, in part, the western boundary of Wisconsin. Among the tributaries to the "Father of Waters" in the state, are the Wisconsin, Chippewa, Black and St. Croix Rivers. The Mississippi is navigable in all parts bordering on this state. The Wisconsin is also of sufficient depth to admit of small steamers ascending to the "pine regions." waters of the lakes and rivers usually originate in springs of pure, cold water.

The

No state in the Union has increased with the same rapidity that Wisconsin has, (unless we except California, whose population can hardly as yet be considered as altogether permanent.) Its population has progressed as follows:

1840, total population,.

1842, 1846, 1847, 66 1850,

46

30,945 rail-road from Milwaukee to Prairie La

155,277

44,478 Crosse, on the Mississippi River; another 210,546 from Milwaukee to Fond du Lac, on Lake 305,538 Winnebago; and still another from Mil

An increase at the rate of 890 per cent. Waukee to Chicago, in the state of Illiduring the past ten years! At the present nois. The city has, by a vote recently time, Wisconsin may safely claim a popu- taken, loaned her credit for a term of lation of four hundred thousand. The number of deaths in the state, for the year 1849, was 3,039, or one to every hundred inhabitants. This is a high degree of health, and facts gathered from the census returns show that Wisconsin is one of the healthiest states in the Union.

Milwaukee is the principal city in the state, situated on the shore of Lake Michigan, ninety miles north of Chicago. This city has increased more rapidly than any city in the world. In 1836, there was but one frame building on the site of Milwaukee, and only one white family residing in this section of the country.

In 1838, the population was...

66

66

2,700

years, for the purpose of aiding in the construction of the last named road, (called the "Lake Shore Rail-road.") In two years' time, it is anticipated this road will be completed, when Milwaukee will be in direct communication with NewYork, by rail-road.

At the head of navigation of the Milwaukee River, (which runs through the centre of the city, north and south,) a dam has been built, which raises the water about twelve feet, thereby causing a slack water navigation, extending to the village of Humboldt, some three miles north.

A canal of one and

a quarter miles long brings this water into town, on the west side of the river, 800 and creates a water-power equal to about .1,751 one hundred runs of stone. The mills 9,655 and factories on this canal have the ad14,061 vantage of being located on the immedi.18,000 ate bank of the river, and may be ap..20,061 proached by the largest class steamers And at the present time the population navigating the lakes. is at least 25,000.

1840,

1842,

1846,

66

1847,

66

Liberal charters for various rail-roads, terminating at Milwaukee, have been granted by the legislature of Wisconsin. The Milwaukee and Mississippi Rail-road Company have already completed their road to Whitewater, (50 miles,) and expect, by the first of January, 1853, to have it completed as far as Madison, the capital of the state, (80 miles.) The western terminus has not yet been determined, but it is generally supposed that Prairie du Chien will be selected as the most eligible point.

That this road will find business enough to keep it fully employed cannot be doubted, when the capabilities of Wisconsin, for its agricultural as well as its mineral productions, are considered, together with Iowa, Minnesota, and Nebraska, as tributaries. In looking back for ten or fifteen years at the advance made in the facilities for travel and transportation, it requires no great stretch of the imagination to foresee the time when a chain of railway will extend to the shores of the Pacific, and that this road will be one of the connecting links in that thoroughfare of the world.

Wisconsin is a grain-producing state, notwithstanding the much-talked-of failure of the wheat crop in the years '49, '50 and '51. The partial failure of this crop during the years just mentioned, has proved a benefit rather than a detriment to the state, causing farmers to turn their attention to a variety of crops, and not to rely entirely on wheat, as they had been in the habit of doing. Considerable attention has been attracted to flax, and large quantities have been raised during the last two years. A farmer at Mukwonago, Waukesha county, has, for a number of years, devoted his time to the cultivation of this article, and with gratifying success. Tobacco is also grown in this state, but whether Wisconsin farmers will be able to compete with their brethren of Maryland and Virginia, is a matter of experiment.

The statistics of four of the counties in eastern Wisconsin, for the year 1850, are as follows:

A charter has also been granted for a Kenosha......10,732.. 50,938.. 914....318,051

Wisconsin.

30,989

Flour, bbls..

Fish, bbls

Oats, bushels

Barley, bushels..

Wool, Ibs

Hides, lbs..

Ashes, tons

Sundries, bbls. bulk.

Merchandise, tons.

Lumber

Lath.

Shingles.

Merchandise, tons

Sundries, bbls. bulk.

Salt, bbls..

Fruit, bbls

High Wines and Whisky, bbls

Flour, bbls

Flour, bbls..

Imports.

Pork, bbls.

Salt, bbls..

Beef, bbls.

Meal, bbls..

Vinegar, bbls.

Butter, firkins.

Lard, lbs..

.437 The valuation of the exports from the eastern district of Wisconsin, for the year 1851, is... $2,156,182 10

74

.558 Loss to the district by partial or total

855

.65

wreck, from the year 1839 to 1851 in-
clusive..

.120 Tonnage of the district.

.7,800 Seamen employed..

The following statistics of the exports from the state bordering on the Mississippi, we extract from the speech of Hon. Otis Hoyt, in the Assembly of 1852:

feet...

10,000,000 feet of logs..

.$150.000

On the St. Croix River, there are seventeen saws-cutting 26,000,000 feet, at $10.

22,000,000 logs, at $5.

Square timber, lath. &c.

The Chippewa River yields 20,000,000 feet of lumber, at $10..

1,000,000 feet of logs, at $5.

Square timber, lath, shingles, &c.

110,000

ties for easy access to the east and south, affording promise of great agricultural and commercial prosperity. Perhaps no state can enjoy so many advantages at so little expense.

The towns in the interior are destined

There are on the Mississippi River, above the mouth of the St. Croix River, engaged in cutting logs, eleven saws-cutting 15,000,000 feet of to a rapid growth, for the rail-road system sawed lumber annually, at $10 per thousand will give to them nearly all the advan50,000 tages heretofore enjoyed by the river and lake towns, and the farmers in every part 260,000 of the state will have, at their own doors, 10,000 a ready market for their surplus products. It only remains an open question whether 200,000 20,000 manufactures may be successfully intro5,000 duced, so as to augment the resources and quicken into greater activity other 150,000 Logs, square timber, lath, shingles, &c... 15,000 industrial pursuits. It has been said that Furs and peltries from the whole region.... 200,000 Wisconsin cannot become a manufacturThe whole amount of exports from this part of the state, is estimated at...... 1,170,000 ing state, because there are no extensive coal beds to furnish motive power; but whether manufactures are dependent upon the supply and cost of coal, and whether wood and water may not afford a sufficient and economical substitute, are questions yet to be solved.

The Black River yields 15,000,000 feet of lumber, at $10..

In concluding this article, we would say, that the undeveloped resources of Wisconsin have attracted the attention of capitalists and scientific men. The extent of her territory, and the fertility of the soil, ready, by the alternations of prairie and timber, for the labor of the husbandman, bid fair to make this one of the first agricultural states in the Union.

Internal improvements are needed to bring into communication with the markets the interior counties; but all the lake shore on the east, and the river counties on the west, enjoy the best natural facili

The construction of canals in the older states a few years ago increased the manufacturing facilities by furnishing a large water-power; and why may not Wisconsin, which abounds in natural water-falls and rapid streams, turn them to advantage to increase her resources and benefit her sons?

ART. III-FREE BANKING.

PART III.

THE use of state or government stocks as securities for a paper currency, involves the most important considerations. It opens up all the questions touching a public debt, to which we must in due course direct our attention.

Our first proposition is, that the credit of a state is no fit foundation for a paper currency. The stocks of a state are only its promissory notes.

Upon these, as securities, free banking bases a lower order or stratum of promissory notes, viz. the notes or paper promises of banks, and again, for these are exchanged the notes or promises of private persons-thus giving us a descending series of credits, from the peo

ple as a government, to the people as individuals. The result of such a scheme is obvious and irresistible.

The whole fabric of the currency being built on credit accumulated on credit, the edifice gradually expands and enlarges, and finally becomes so large and overtowering, that it is borne down almost by its own superincumbent weight, crushing the whole community beneath its ruins. No prudent merchant would knowingly extend his confidence to the country dealer whose whole resources were built on similar frail foundations. He would feel that he was recklessly careless to sell out his property to individuals whose credit was built on the