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In my report of the 25th of November last, I estimated the receipt from taxes to be..

$3,472,459 22

And that the ordinary annual expenses would be... $2,859,409 58
Add to these charges the interest on new debt.....

204,806 00

3,064,215 58

$408,243 64

Excess of receipts over ordinary expenses.

GOLD.

The gold fever appears, by the late California accounts, to be rapidly on the increase again. The production of the two countries since the discoveries in Australia, are given by the Alla Californian, as follows:

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This has been the result of mining during the last six years, and the Californian estimates that some $200,000,000, in addition to this, has found its way into the world at large through private channels. The result for the last year, it is apparent, has been above the average of previous years, and for the previous year the results are still greater. The value of gold, it is to be remembered, is now greater than it has been since the discoveries in California relatively to other metals, and the excitement in California, in relation to new discoveries, seems to be very great. In Carson Valley, the newly discovered diggings are represented as "fabulously rich," and the discoveries on Frazer's River have created a still greater excitement. These circumstances are likely greatly to promote the production of gold. The California papers advises caution to those who are so eager to seek the new diggings, but do not contradict the reportsseeking only to moderate the excitement The chances are that the gold product from all quarters will be greatly larger in 1858 than it has been in any former year.

BANKS OF ILLINOIS.

The Bank Commissioners of the State of Illinois report respecting the banks of that State as follows:

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There is that excess of securities, if the bonds are at par.

Excess of securities...

BANKS IN CONNECTICUT.

The Governor of Connecticut, in his message, remarks upon the operations of the banks as follows:

From the examination I have given this subject, I am led to recommendFirst. That the banks be prohibited from having interest on deposits. Second. That they be prohibited from making loans on call. Third. That their circulation be limited to an amount not exceeding seventy-five per cent on their capital stock. Fourth. That they be required to make monthly returns of their condition to the Bank Commissioner. Fifth. That they be required to keep on hand an amount of specie equal to ten per cent on the total amount of their indebtedness, and if during any month their average amount shall not be equal to this requirement, all discount shall cease until they shall be restored to such a condition.

We have seventy-six banks in the State, with an aggregate capital of $20.618,723, the condition of which will appear in detail in the report of the Bank Commissioners. Their observation and experience will enable them to give you valuable suggestions relative to the operations of our banking system. Their report will also exhibit the condition of the several saving and building associations-under our laws they possess the peculiar privilege of taking a higher premium for the use of money than private citizens or any other associations.

It will be well to consider whether you may not with a true and just regard to all their rights, and your obligations to the public, limit a time for closing their business, or enact a law which shall prohibit them from taking any bonus on any future loans, and confine them to an interest of 6 per cent per annum.

INTEREST LAW OF PENNSYLVANIA.

We publish in full the new interest law of Pennsylvania, as an example for the legislators of our own State :

AN ACT REGULATING THE RATE OF INTEREST.

SECTION 1. Be it enacted by the Senate and House of Representatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same, That the lawful rate of interest for the loan or use of money, in all cases where no express contract shall have been made for a less rate, shall be six per cent per annum, and the first and second sections of the act passed 2d March, one thousand seven hundred and twenty-three, entitled "an act to reduce the interest of money from eight to six per cent per annum," be and the same is hereby repealed.

SEC. 2. That when a rate of interest for the loan or use of money exceeding that established by law shall have been reserved or contracted for, the borrower or debtor shall not be required to pay to the creditor the excess over the legal rate, and it shall be lawful for such borrower or debtor, at his option, to retain and deduct such excess from the amount of any such debt; and in all cases where any borrower or debtor shall heretofore or hereafter have voluntarily paid the whole debt or sum loaned, together with interest exceeding the lawful rate, no action to recover back any such excess shall be sustained in any court of this Commonwealth, unless the same shall have been commenced within six months after the time of such payment. Provided always, that nothing in this act shall effect the holders of negotiable paper taken bona fide in the usual course of busi

ness.

G. NELSON SMITH, Speaker, pro tem., House of Representatives.
WM. H. WELSH, Speaker of the Senate.

APPROVED, the 28th day of May, A. D., one thousand eight hundred and fifty eight.

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WM. F. PACKER.

GENERAL BANKING LAW IN MINNESOTA.

The provisions of the General Banking Law of Minnesota are similar to those of many of the other States. The law authorizes the Governor to appoint a Bank Controller, who is to have charge of the securities, issue the circulation, etc. Any person or association may commence banking under this law, with a capital of not less than $25,000. The notes are to be countersigned by the Bank Controller, the bank assigning in trust to the State as security therefor United States or State stocks, producing an average of at least six per cent interest, on which the Controller is to issue to the bank circulating notes to the amount of 90 per cent of the current value of the stock (so deposited) in New York at the time of deposit; and in the event of a depreciation of 10 per cent, the bank to make up the deficiency by depositing additional stock.

The banks are required to keep in their vaults specie equal to one-fifth of their circulating notes; to make quarterly statements of their affairs to the Controller, who shall cause the same to be published.

A Bank Commissioner, in company with the Bank Controller, must personally examine the books and vaults of all the banks in the State at least four times in each year.

If a bank fails to redeem its notes in specie on presentation, the bill-holder may have the same protested, in packages, at the expense of the bank, and the Controller is directed, at the expiration of forty days, to close up the bank, sell the securities forthwith, and redeem the notes.

The law prohibits all banking except under this act.

PHILADELPHIA BANKS-DIVIDENDS.

All the Philadelphia banks have declared dividends for May, except the Girard Bank, which omits this half-year, and the North America, which usually declares in January and July :

Banks.

Philadelphia Bank...

Farmers' and Mechanics'..

Amount of dividend.

Capital.
$1,800,000

Dividend,
per cent.

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Commercial Bank......

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The following is the recapitulation of the condition of all the banks in the State, on Saturday afternoon preceding the first Mondays of April and May, 1858:

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Bank of the State of South Carolina... 1,706,000 798,000
People's Bank...

545,000 151,000

45,000 Inc.
78,000 Inc. 21,000
95,000 Inc.
37,000

17,000

3,460,000 2,117,000 1,036,000

Total increase....

$189,000

The circulation of these banks has decreased from March, $1,177,000, or a fourth, and the deposits $1,060,000, or a third, while the specie has increased.

BANK LAW OF VIRGINIA.

The following is a copy of the law which is to go into operation in Virginia in April, 1859:—

1. Be it enacted by the General Assembly, That it shall be the duty of every branch of a bank, which is now or may hereafter be authorized by law, in addition to the redemption now required at such branch, to receive on demand all circulating notes issued or payable by such branch, which may be presented for payment at the parent bank of such branch, at a rate of discount not exceeding of 1 per cent; and for failure to redeem the same, the holder thereof may recover the same damages, and in the same mode now provided by law, for failure to pay in specie at the office or bank where payable; provided, that the other branches of the Exchange Bank of Virginia shall redeem at the branch thereof, established in the city of Richmond, on like terms.

2. Every independent bank, which is now or may hereafter be authorized by law, shall establish an agency for the redemption of its circulating notes in the city of Richmond, or in Baltimore, in the State of Maryland, in addition to the redemption now required by law. The location of such agency shall be certified by the president of the bank to the Governor of Virginia, with each quarterly report of the bank, and shall be published with the same. For failure to establish and report the agency, the bank shall forfeit to the Commonwealth one hundred dollars for the first offence, and five hundred dollars for each separate violation of the law thereafter.

3. It shall be the duty of the bank, in addition to the redemption now required by law, to redeem on demand all circulating notes issued by such bank, or payable by the same, which may be presented for payment at the agency thereof, at a rate of discount not exceeding of 1 per cent; and for failure to redeem the same, the holder thereof may recover the same damage, and in the same mode now provided by law for failure to pay in specie at the bank where payable.

4. Whenever the notes of any bank shall be presented for redemption at the bank where they are payable, such bank or branch may redeem the same by a specie draft at par for the amount upon the banker or agent in Richmond or Baltimore, where it has made provision for the redemption of its notes; provided the aggregate amount of the notes so presented and held by the same person shall exceed the sum of five hundred dollars; and the person refusing to accept such draft in redemption of the notes held by him, shall not be entitled to proceed against such bank under the section of the chapter of the Code, or under

Those marked with a* are specie-paying.

the provisions in the charters of the stock banks requiring the Treasurer of the State to sell the securities held by such bank.

5. No bank or branch thereof shall give any certificate of deposit, draft, or other evidence of debt, which is not payable in specie.

6. No bank or branch thereof shall pay out bills or notes of any other bank or branch, except such as it will receive at par, in payment of debts due the bank.

7. No bank shall directly or indirectly loan its bills or notes for circulation to any person, persons, or corporation, under any agreement or understanding that such persons or corporation shall protect or guaranty the circulation of such or any other bills or notes issued by the bank, or redeem the same when presented for payment.

8. This act shall take effect on and after 1st April, 1859.

STATISTICS OF TRADE AND COMMERCE.

STATISTICS OF OHIO.

EDWARD D. MANSFIELD, ESQ., was appointed Commissioner of Statistics for the State of Ohio, by the law of April 17th, 1817. The following is the summary of his first annual report, and it appears to have been executed with great judgment and care. He has presented also a plan for the organization of a permanent bureau of statistics, which it would be well if all the States were to follow. It is the only mode by which the statistics of the whole country can be reliably condensed :--

Surface, (including the Lake.)

I. SERIES-PHYSICS.

Land surface, as stated by the United States Land-office..

Land in acres. .

Coast line of Lake Erie and the Ohio..

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42,500 39,964

.square miles

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Population* (estimated by known ratios) July, 1857..

Increase since 1850.....

Born in Ohio....

Born in other States...

2,368,000 388,862

1,535,000

640,000

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The population and nativities have been calculated from several ratios, furnished by the United States Census and the State Auditor's Report.

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