by snow storms and westerly gales, instead of running off into the Gulf stream, as vessels now do to thaw themselves, they stood back to Charleston or the West Indies, where they would spend the winter, and wait until the spring before making another attempt.

"It should be borne in mind that vessels then were not the sea boats or the sailers. they now are. Lieut. Maury had the log-book of a West India trader in 1746. Her average rate of sailing, per log, was one mile the hour.

"The instruments of navigation were rude, chronometers were unknown, and lunars were impracticable, and it was no uncommon thing for vessels in those days, when crossing the Atlantic, to be out of their reckoning 5o, 6o, and even 10o. And when it was announced that a vessel might know by consulting the water thermometer, when she crossed the eastern edge of the Gulf stream, and again when she crossed the western edge, navigators likened the discovery to the drawing of blue and red streaks in the water, by which, when the mariner crossed, then he might know his longitude. "The merchants of Providence, R. I., Dr. FRANKLIN being in London, sent a petition to the Lords of the Treasury, asking that the Falmouth packets might run to Providence instead of to Boston; they maintained that though Boston and Falmouth were between Providence and London, yet that practically the two former were further apart, for they showed that the average passage of the London traders to Providence was fourteen days less than the packet line from Falmouth to Boston.

"Dr FRANKLIN, on being questioned as to this fact, consulted an old New-England Captain, who had been a whaler, and who informed the Doctor, that the London traders to Providence were commanded for the most part by New-England fishermen, who knew how to avoid the Gulf stream, while the Falmouth packets were commanded by Englishmen who knew nothing about it.

"These two drew a chart, which was published at the Tower, and the Gulf stream, as laid down there by that Yankee whaler, has been preserved upon our charts until within a few years.

"At the time that Dr. FRANKLIN made it known how navigators, simply by dipping a thermometer in the water, might know when they entered, and when they cleared the Gulf stream, Charleston had more commerce than New-York, and all the New-England States put together.

"This discovery changed the route across the Atlantic, shortened the passage from sixty to thirty days, coming this way, and consequently changed the course of trade also.

"Instead of calling by Charleston as they came from England, vessels went direct to the port of their destination; instead of running down to Charleston to avoid a New-England snow storm, they stood off for a few hours, until they reached the tepid waters of the Gulf stream, in the genial warmth of which the crew recovered their energies, and as soon as the gale abated they were ready for another attempt to make their haven.

"In this way the northern ports became the half-way-house, and Charleston an outside station.

"This revolution in the course of trade commenced about 1795. It worked slowly at first, but in 1816-17, it received a fresh impulse from Jeremiah Thompson, Isaac Wright and others, who conceived the idea of establishing a line of packets between New-York and Liverpool. This was at a period when the scales of commercial as cendancy were vibrating between New-York, Boston, Philadelphia and other places. The packet ships of the staid New-York quaker turned the balance. Though only of 300 tons burden, and sailing but once a month, they had their regular day of departure, and the merchants of Charleston, Philadelphia, etc., found it convenient to avail themselves of this regular and stated channel for communicating with their agents in England, ordering goods, etc. Those packets went on increasing in num bers and size nntil now; at the present day we have them building of 2000 tons, sailing every day, and running between New-York and every fifth-rate sea-port town in the United States, and to many foreign ports.

"Thus an impulse was given to the prosperity of New-York; one enterprise begat another, until that city became the great commercial emporium and centre of exchange of the new world; and all these results are traceable to the use of the

water-thermometer at sea.

"Other causes, doubtless, have operated to take away from Charleston her relative commercial importance-but the primary cause was that discovery which removed Charleston from the way-side of commerce with Europe, and which placed

her on the outskirts of the great commercial thoroughfares, and away from the situation which she occupied.

"In consequence of the improvement since made in navigation, ship building, etc., Lieut. Maury, remarked that a ship could now go from New-York to New-England, and back, in less time than, when Charleston was the half-way house, she could get to Charleston from London.

"He therefore submitted whether this fact were not sufficient to turn the scales of commerce, and he claimed the fact to be due to the influence of the Gulf stream upon the course of trade, and the water-thermometer was the key to it all."

2. TRADE WITH CHINA.

THE opening of the gold mines of California, and the constant intercourse between the United States and the North Pacific, consequent upon the emigration of an immense number of our citizens to that territory, leads us to inquire with more than ordinary interest into the condition of the trade of that part of the world, and among the countries which attract attention, China is the most prominent. The projected lines of communication between the United States and North Pacific, one or the other of which must, at no very distant day, be commenced, will, in point of time, greatly reduce the distance between the United States and the Celestial Empire, and thereby afford to our citizens superior facilities for commencing and carrying on with the Celestials a most important traffic. The opening of this trade would tend to stimulate the Chinese to cultivate intercourse with our country, as it also would to relieve them from that odious traffic, to which we may say they are now in bondage -the opium trade. This has been forced upon them by British India, and it is continued only because, compared with England, China is the weaker vessel. The latter would not willingly submit to a traffic which has such a baneful effect upon the interests of their whole Empire. Increased intercourse with the United States would tend to relieve the Chinese from this odious business, this system of robbery, by which one hundred million of people are enslaved for the profit of a few noble families in England. It will be the interest of the people of the United States to use all honorable means to abolish this traffic, as we can never expect to introduce our manufactures into China to any extent so long as England, with opium in one hand and the sword in the other, compels the Chinese to purchase that which keeps their markets in a state of continued depression by reason of the constant and enormous drain of specie for which no return is made except in that which reduces the moral condition of the people to that of the beast, and even lower.

This opium trade with China commenced in 1774, when England succeeded in stationing an opium ship at Whampoa, but the trade did not flourish much till 1821, when Linton Island became the chief market for the sale of the drug. About that time from three thousand to four thousand chests were sold per annum, worth some three million dollars, and in the next year (1822) the amount rose to twelve thousand chests per annum, and increased to forty thousand chests in 1817, when the trade produced war. In the conflict the Chinese were defeated, and since the peace the trade has continued to increase, and in 1849 there were consumed forty-nine thousand chests, for which forty million of dollars in pure silver was paid. The following is an official statement of this business for the last twenty-seven years.

Aggregate value. $10,000,000

3,500

12,000

72,000,000

The increase in the consumption of the drug in the last ten years, it is seen, has been very great; and although there has also been an increase in the exports of Chinese produce, yet the export of the precious metals in the adjustment of the balance adverse to China, has reached the annual sum of ten millions of dollars. Previous to the traffic in this pernicious drug, China was the recipient of the precious metals from the Western country, in adjustment of the balance in her favor. The opium traffic is not the only obstacle which England has thrown in the way to keep in a state of depression the Chinese Empire. She has imposed upon the tea imported

into the United Kingdom an enormous tax, amounting to nearly three times the value of the article itself. Under such a load of taxation it is impossible for the tea trade to expand. In 1847, the value of the tea exported from China was £2,749,577, and the duty paid on tea in the United Kingdom the same year was £5,067,042. In 1848, the exports of tea from China amounted to £1,909,000, and the duties paid in the United Kingdom to £5,310,527. Thus it is seen that the Chinese have to contend at home against the demoralizing effects of the opium traffic, forced upon them by England, while at the same time their commerce with England is depressed by the enormous tax placed upon their products for the purpose of sustaining an exhausted and sinking treasury. It is easy to see, therefore, that in carrying on a trade with China, the United States would have none of those prejudices naturally arising from the present and part relations of China and England to overcome.

If, therefore, the trade of British India could be revolutionized, and the constant drain of specie from China, by which the country is impoverished, stopped, we might find among the numerous people of the Celestial Empire an important market for our manufactures. This, however, we can hardly expect unless other nations support the Chinese in enforcing their own laws on their own territories. This will doubtless be the case, for it is hardly possible that such extortion could be carried on without attracting the attention and inducing the interference of rival Governments. A brief account of the manner of raising the opium will show how the producers, as well as the consumers, are imposed upon. The plan is this: All the lands are surveyed and re-rked every year; the farmers are then required to cultivate poppy. When the plant is nearly ripe the native officer of each village, appointed by the English Indian Government, makes a circuit and estimates the yield of opium. The farmer is then compelled to deliver the quantity estimatad at the price fixed by the English Indian Governor. If he fails to cultivate poppy, or deliver the estimate, his property is subject to confiscation and himself to exile. The Government agents are also always so far in advance to their farmers, that as debtors they are doubly slaves. The chests thus obtained cost the Government three hundred rupees, say $136 each, and then the Government sells in Calcutta, to the opium merchants, at an average of fourteen hundred rupees, $369 each, being a profit of $493 per chest. This on 40,000 chests, gives a net revenue of $17,320,000 per annum. They also draw a tax of $150 per chest on 20,000 chests per annum, and the officers of the Government admit that without it the Government could not be carried on.

3. CONDITION OF THE BANKS IN THE UNITED STATES. COMPARATIVE VIEW OF THE CONDITION OF THE BANKS IN THE UNITED STATES.—JANUARY

In May, 1837, the banks suspended specie payments. In May, 1838, the NewYork banks resumed specie payments, and the other banks attempted to follow their example, so that by January, 1839, there was what was called a general resumption of specie payments, though in many parts of the Union this was merely nominal. In October, 1839, the banks of Philadelphia again suspended specie payments, and were imitated by the banks of the South and West.

Specie payments were not fairly resumed by the banks of Philadelphia till March, 1842. The banks of the South and West imitated their example; but in September, 1842, there was a tremendous bank convulsion at New-Orleans, the effects of which were felt throughout the country. The consequence was, that by the 1st of June, 1843, the current credits of the banks were reduced to a very small amount. They continued small till May, 1843, when an expansion began, which was at first very gradual.

The great increase in the amount of specie and bank credits in 1848 over 1847, was in consequence of the demand for our breadstuffs in Europe.

In January last, the circulation of the banks was greater than it had been in any previous years, excepting 1834, 1837 and 1833; and the year 1839 may be left out of the comparison, as in the returns for that year are included many banks which did not pay specie.

In January, 1850, the banks were more expanded than they were in January, 1848. The small amount in which the specie in the vaults of the banks varies, when compared with the amount of their circulation and deposits, is not unworthy of observation.

The greatest amount of specie in the banks was in 1844, when it was $49,898,269. The smallest was in 1812, when it was $28,440,423. Difference, $21,457,846. The circulation was lowest in 1813, when it was $58,563,608; and highest in 1837, when it was $149,185,190. Difference, $90,621,582.

The deposits were lowest in 1843, when they were $56,168,623; and highest in 1837, when they were $127,397,185. Difference, $71,228,562.

The current credits were greatest in 1837, when they were $276,583,075; smallest in 1843 when they were $114,732,231. Difference, $161,850,844.

4. WESTERN STEAMERS IN 1819.

The following extract from the journal of a gentleman who was engaged in the New-Orleans trade thirty-one years ago (politely furnished for publication in the Democrat) may form the basis of an interesting comparison between the boats' tonnage and business of that early day and those of the present time. It will be found useful for future reference:

"In looking over the journal of my peregrinations through the Mississippi valley in my early days, I find under date of August 6th, 1819, and taken from a New-Or

leans paper of August 1st, the following list of steamboats which had been licensed and enrolled at the Custom House, New-Orleans:

"The journal continues: 'There are a number of other steamboats running on the Ohio, Mississippi above the mouth of the Ohio, the Illinois, and Mississippi rivers, which never have been enrolled and licensed in New-Orleans.

"The steamboat St. Louis was built in Baltimore, is rigged schooner fashion, and is considered a very fine boat.'

"December 5th, 1820.-In addition to my list of steamboats, I will now add the names of a few more, which have been built since that date, viz: Mississippi, Tennessee, United States, Cumberland, Arkansas, Post Boy, Feliciana, Fayette, Gen Robertson, Lightning Fly.'

"The tonnage of the above boats is not given, except that of the United States, which was seven hundred tons.

"I quote one passage more from my old journal:

"December 1st, 1820.-Took passage on steamboat Mississippi for New-Orleans, (from Natchez,) passage 15. Arrived at New-Orleans December 5th, with eight hundred bales of cotton, and the weight of three hundred more, equal to one hundred and twenty tons. This is her second trip. She cost $80,000."

"Fast travelling, and cheap!

"Should the above extracts be permitted to occupy a corner of your weekly journal, some of our river men, who have not access to old records, may think them worth preserving.

Upper Alton, August 13, 1850."

ELIAS HIBBARD.

5. PROSPECTIVE COMMERCE WITH JAPAN.

Much has been said and written of late in reference to a commercial mission to the East, and the possibility of opening to our commerce the closed gates of the great empire of Japan. The English appeared also to be alive to the subject, and a writer in the United Service Magazine has presented a variety of striking facts and suggestions for their consideration:

"Many of our readers may possibly have forgotten the history of European dealing with Japan; we will, therefore, commence what we have to say, by sketching briefly what was done in former times, because, latterly, scarcely anything worthy to be related has happened. The Portuguese were the first European adventurers who opened a trade with the Japanese Empire, and they reaped a golden harvest by their boldness. Arriving when the minds of the people were fresh, when there was industry and great enterprise in the country, when the culture of the soil was carried to a high degree of perfection, and when the Japanese vessels threaded all the chan nels of the Indian Archipelago as far as the western extremity of Java and the Ma