from 15 to I had declined to 16 to 1, which aided the change in the British coins in sending the gold from this country. A change became necessary, and in 1834, the gold bill did for our currency what had been done for that of England by Act of Parliament in 1816; that is to say, the pure gold in the eagle was reduced from 247.5 grains to 232 grains, at which rate the par of gold between here and England was raised to $4 87.5. These changes are seen in the following table :

In the United States, the silver remaining the same, the taking of 15 grs. of gold out of the $10 gold piece raised the relative value of silver to 16 to 1, and this seems to have been about the true gauge hitherto. Now it will be observed that London is the great market for silver, whence Europe supplies itself. It is there not money but merchandize; when there is a demand for it on the continent it rises in price, and of course like any other merchandise, it is sent to the place where it sells best. As an instance, in 1829, dollars sold in London 4s. 9d. per oz.; $1000 weigh 866 oz.; at the same time dollars were at par in New-York. The French Revolution of 1830, caused a demand for the Continent, and dollars rose in London to 4s. 114d., and to 2 per ct. premium in New-York, just as cotton or any other article rises here when there is a demand for it. Now suppose a merchant owes in London £1000, and the currency here being in dollars he is to remit them in payment.

Dollars are not

money in London, and he looks at the last quotation, and finds new dollars sell 4s. 10d. per ounce, as $1000 weigh 866 oz. they are then worth 4s. 2d., or 50d. each, consequently to pay £1000 requires $4800, and to send them there according to the proforma of an actual shipment will cost $200 more, say $5000. Instead of doing this he buys a bill of exchange, for which the account will run thus:—

Now this bill at 9 per ct. premium has cost him $143 56 less than the expense of sending dollars or less than par, notwithstanding the absurd manner of making out the bill. Again, say a stock bond for $1000 is sold in London at what is called par at the rate $4 44 per £, the payment is £225 for which $1078 may be bought in the market, which is £4 84 per. If the 225 sovereigns are brought home they are worth about the same here. The movement of the metals never takes place, either way, however, until the variation of the exchange will cover the cost. Thus sovereigns cannot be sent from London to the United States when

exchange is over 5 premium, and cannot go back when it is less than 104, being a range of nearly 5 per cent; and American gold cannot go under 11. It is now probable, that from the supply of gold instead of silver continuing to fall, it will rise in value and perhaps get back to the old par of $4 44. Many of the countries of Europe, as Holland for instance, are abandoning gold as a standard, in this view, and it may become expedient for the United States to abandon silver for large amounts and adhere only to gold.

Among the most remarkable mutations which change of circumstances has wrought in public opinion, is doubtless that which was formerly entertained in relation to the "regulating powers" of a national bank, and the necessity of such an institution to maintain anything like an equilibrium in the rates for exchanges, external and internal. A race of merchants had grown up familiar only with the paper money system of the country, emanating from local banks in all sections, and so thoroughly had this paper money become identified with business operations that it was with the greatest difficulty and the occurrence of most serious revulsions that the difference between exchange and the discount upon paper money was at last made apparent. So long as no money was known to command other than the promises of banks, and those promises were like other merchantable articles dependant for their relative value upon the quantity issued, it was of course evident that some means of checking an undue issue in any one quarter should exist. This was afforded by the National Bank, which through its branches was always a creditor institution. That is to say, the collections and mercantile notes due at any centre of commerce, as Richmond, Charleston, Cincinnati, &c., were sent to those points payable at the branch, and as the money in which payment was made consisted of the bills of the local banks. These accumulated in the branch and were by it returned upon the issuing bank for specie or exchange. It is obvious that no bank could issue unduly without having its bills promptly returned. By those means, however, the remittances from most sections were nearly all made by the branches to the common centre of commerce, New-York, and the National Bank enjoyed a monopoly of exchange which would enable her to put the rates up or down at her pleasure. The facility of collecting through this system of the universal currency which the bills of all the branches enjoyed, was felt to be an advantage so great by the mercantile community, who had never known any other manner of exchanges, that the destruction of it was regarded with dread and dismay.

DEPARTMENT OF AGRICULTURE.

1. MELSENS' IMPROVED PROCESS OF MAKING SUGAR.

We understand that this method will be extensively used the ensuing season, and as it is a subject of vital importance to many of our subscribers, we have taken some pains to ascertain the practical utility which is likely to accrue from the use of the bisulphite of lime; and from the respectability of the parties from whom our information is derived, we have every reliance that, in practice, our observations will be found

correct.

From the careful trials made during the close of the last grinding season, by Mr. Thos. A. Morgan, and several other planters of experience, who took the precaution of procuring pure bisulphite, it appears that the utmost confidence can be placed in the statements of Professor Melsens in his treatise. This treatise our readers will remember to have seen in our columns, in both languages. We mention this because the truth of his assertion, that by his process, if carried out to its full extent, the whole of the saccharine matter contained in the cane can be converted into crystallizable sugar, has been called in question. And we are happy to find, from some of these very experiments, conducted with attention, in following out the instructions in the treatise, that a very superior crystallized sugar was the result of the operation, without any residuum of molasses. Nevertheless, we are quite of opinion that, with the present sugar apparatus, it will not pay to carry the process beyond two crystallizations, with a residuum of sugar-house molasses. This will give a large gain in quantity as well as quality over the present ordinary lime process.

One important advantage connected with Melsens' process is, that it adapts itself at once to every form of mechanical apparatus in use in this State.

The first business of the planter should be to procure a PURE bisulphite of uniform strength, without which all the rest is of no avail; and we are gratified to find that the agent for the patentee has provided for this by erecting a powerful apparatus for the manufacture of the article here on a large scale, to ensure permanency and economy. It is the intention also to sell the bisulphite at a lower price than it can be had for any where else in the United States.

In badly-made bisulphite the principal impurities are hyposulphurous acid and free sulphur, both highly deleterious to sugar, and both of which impart to it a disagreeable flavor. The pure bisulphite communicates no flavor or smell, unless used in excessive quantities. The planter therefore should be cautious in purchasing only from responsible parties. Trash of all kinds has been sent from the North, and it is not unlikely that some of it may find its way here.

Bisulphite of lime, when crystallized, or even concentrated, loses nearly its whole efficacy from the escape of the excess of sulphurous acid upon which its action in making good sugar mainly depends. Some of our principal chemists at the North tested this thoroughly last spring, knowing that it would be impossible to send it in a fluid state, and compete with the price it could be made for here. Bisulphite, when of good quality, should be perfectly limpid, and mark at least ten degrees on Beaume's arometer. Such an article, with ordinary skill, will produce a beautiful sugar, both as to color and grain; and if a good process of decantation be adopted, the result will give a still greater improvement than without it. The commonest kettle-process will perhaps derive most benefit from Melsens'; but none should stop there, because the addition of clarifiers, and the means of one decantation at 4 to 25 degrees Beaume, will give results that will largely remunerate for the cost of such additions.

From past experience it would appear that the quantity of bisulphite used has been too great. To combine economy with effect we should recommend from 1 to 24 gallons as sufficient to heat juice enough to make a hogshead of sugar, according to the quality of the cane. The cost of a gallon of bisulphite will be not over 25 cents, and it must be applied to the juice as soon as possible after it is expressed.

This done, the juice will be in a condition impervious to change, for the bisulphite prevents the formation of all ferments; and then, even in the common kettles, provided they be set so that the grand can be brought to the boil during clarification, the benefit of the bisulphite of line as a defecator will be at once apparent. Of course the process will be still more effective when the clarification is performed by steam, and especially if the juice be afterwards left to repose in suitable receivers for about

twelve hours, to deposit the whole of the defecated matter, and nothing but bright, clear liquor used for evaporation. To the planter on Red River the Melsens process must be peculiarly valuable, for by it the juice of green cane can be granulated, and all the disadvantages be obviated that attended premature grinding in that quarter. And in Texas also, the planter, from being enabled to re-boil his molasses into sugar, will have a marketable article for home use of all he produces. Another great benefit will be found in the crystallization of the sugar. From the size of the grain there will be no difficulty in using the syruping process, even with sugar made in the ordinary kettles; and we really think planters will find it to their interest to pay attention to this, as we are satisfied that by the use of good bisulphite of lime in the proper quantity, a good clarification, with two decantations, one after the clarification and the other previous to the syrup being put into the battery, and this followed by the process of syruping in oppropriate vessels, the sugar-maker will obtain, at a small cost, a sugar superior in grain, and little, if any, inferior in brilliancy of color to the best now made in the vacuum-pan by the aid of bone black; and in quantity, 20 per cent. at least more than what is now obtained by the common kettle-process. This will be fully tested, we understand, during the coming season, at Mr. Jno. Hagan, jr.'s, plantation, near Bayou Goule.

We will conclude by remarking, that inasmuch as the agent of Melsens, in his advertisement, offers to supply each planter with a barrel of bisulphite at a cheap rate, with permission to test the merit of the improvement, we strenuously advise all parties interested in sugar-planting to adopt the suggestion and give the new process a fair and proper trial; the cost is little or nothing-say $10,50 for a barrel-and the benefit, if the process possess one-half the merit attributed to it, enormous. Those who tried it in Louisiana last winter estimated the improvement as worth in quality and increased product $10 to $15 a hogshead, according to the apparatus used.

2. NEW SUGAR PROCESS IN ENGLAND.

N. O. Bee.

MARK-LANE EXPRESS, London, June 10, 1850, SUGAR. Several samples of sugar, of a very superior quality as respects granular texture and brightness of color, have recently attracted considerable attention in the Bristol sugar market, which has led to much inquiry as to the process of manufacture among the merchants and proprietors of West India estates. It appears, from inquiries we have made, that by a combination of several patents-among others, the cleansing and drying of sugar by centrifugal force-sugar which formerly took three or four weeks to refine, is now done in as many minutes. Sugars heretofore unsaleable in the English market are, by the new process, converted as if by magic into an article realizing 36s. ($8,64) per cwt. The machine by which the process is carried on is very cheap, portable, and easily worked, and the raw produce shipped in a state which prevents the waste of some 12 or 15 per cent. in shape of leakage from molasses. Next to the discovery of the vacuum-pan, the improvement of Messrs. Fingal & Son, of Bristol, ranks first in the scale of importance; and they have happily succeeded in combining the interests of various patents held by Messrs. Seyrig, Hardman, Rotch and others.-Plough, Loom and Ânvil.

3. SUGAR-MAKING.-THE HIGHLANDS.

The question," Are the highlands adapted to the growth and culture of the cane ?" has been answered. It is no longer an experiment. Instead of going to the lowlands to open a plantation, the former are now selected, as combining several very important advantages; security from overflow, without the expense of building levees, is the first and most obvious. The cane does not grow so large as on the coast, but makes equally as good sugar; the juice requires less boiling, and a less quantity is required to make the same quantity of sugar; so that, all things considered, the balance is in favor of the highlands. The last two years have brought a vast quantity of this land into cultivation-more, perhaps, than for any previous ten years. In this section the sugar-mill is rapidly taking the place of the cotton-gin-the unoccupied lands are coming into cultivation-and even the worn-out and abandoned cotton-fields are found well adapted to the raising of this crop.

We are informed that there are now being erected, in this immediate vicinity, no less than fifteen sugar-mills, at probably an average cost of $10,000 each. This will

bring into cultivation not less than 5000 acres of land; throwing into market 140,000 hogsheads of sugar, which will find its natural transit through Baton Rouge, contributing to her prosperity, and proving that she possesses the most substantial element of a great city: a rich back country.

4. PROSPECT FOR COTTON GROWERS.

The Hon. William Elliott, of South Carolina, in a late address before the Agricultural Society of that State, has put forward some views in regard to the Cotton interest of the South, which are deserving of the widest attention. This gentleman, in addition to being an experienced and successful planter, combines the merit of a liberal understanding of the principles of political economy. He says to the Cotton growers:

"I beg you to observe, that as the proprietors of the greatest and most productive cotton region in the world, we can produce in excess, or forbear to do so; and in this way have our destinies, for good or evil, measurably in our own hands. Is it not strange that there are some who question the fact of over-production, or its influence in depressing prices? Even so; there are planters even, who decide in this against their own interests, and against the abundant and conclusive proofs that may be adduced in support of these positions. Instead of bewildering ourselves with elaborate statistics-skilfully put together by those whose policy it is to encourage us to produce in excess, by persuading us that the consumption is always equal to the supply-let us confine our attention to a period of time which is recent, of which the facts are distinctly within our reach, and where there is consequently the less chance of error and mystification. Take the three last years, for example, and what are the facts? In 1847 we had a moderate crop of some 2,400,000 bales, and a moderate price to match it eight cents, or thereabouts, was the rate for short cottons. We went on increasing the culture beyond the corresponding means of manufacture, and in 1848 produced the unprecedented crop of 2,728,000 bales. Before this great production was known, as soon as it was suspected, the price fell beyond all precedent, so that good cottons sold in our interior towns at 44 cents the pound: nor did the price rally, or reach a remunerating point, until the spring of 1849, when it was known that the growing crop would be short. In that year we had an inclement spring; hundreds of thousands of acres of growing cotton were nipped or destroyed by the frosts and snow of April: alarm was felt for the sufficiency of the supply, and the price began to lift. Then came the army-worm and the cholera, the tempest and the inundation; and with every cause which threatened the adequacy of the supply came increase of demand and price, till the staple reached its present profitable point, at which could it be maintained-our prosperity would be established and secured. We perceive, then, referring to the last three years, and to the facts and indications which they offer us, that the prices of cotton have fallen as the supply has increased; and risen as the supply has fallen short.

"I fear that we are not warranted in ascribing to our own forecast, the improved condition in which we now find ourselves. If the excess of production has been reduced, and our profits have thereby been sensibly enhanced, it is because Providence has cared for us better than we have cared for ourselves. True, we have diverted a portion of our labor and capital from the production of cotton. True, there are some of us, who, observant of events, have taken counsel from their understanding, and have applied themselves to the production of turpentine and rosin, of sugar and rice, and have even invested their money in machinery, and in the manufacture of cotton, instead of stimulating the already redundant growth-still it must be confessed that we continued to cultivate an extent of country sufficient to have yielded, with ordinary seasons, a crop of 2,500,000 bales. Had the crop approached that figure, should we ever had seen short cottons reach 13 and 14 cents? I apprehend not. I think it is evident, from the facts already stated, that a high price for a short supply, and a low price for a large supply, follows naturally, in the relation of effect to its cause. Where, then, does interest, duty, patriotism, lead us? Why, unquestionably not to such an excessive production, as will surfeit, and nauseate our customers, but to such a moderate production as will sustain a remunerating price, and thus perpetuate our prosperity."