The chief general distinctions of linseed, made in trade, are those of sowing and of crushing linseed. The former is understood to be a select article shipped from Riga, Windau, Libau, and Pernau, in casks with official marks, warranting the seed to be fresh and fit for sowing; the latter is of various quality, intended to be used and fit for crushing only, and shipped from all ports of Russia, either in bulk, or in mat bags, called "Kools."

At St. Petersburgh but a small part of the annual supply, derived from the nearer flax districts, arrives and is ready for shipment in May, June, and the fore part of July; for the principal part reaches that market from the middle of July till the end of September, and comprises what is called the Morshansk and Saratoff linseed, and uses to be of a quality superior to the earlier arrivals. The shipment is made chiefly in the mat bags, above alluded to, which are not paid for separately. The article sells there by the "chetvert" measure, forming the contents of a kool. Ten chetverts are found to measure out in England 7, and sometimes even 7% imperial quarters from the ship's side.

Contract purchases for forward delivery are made in autumn, winter, and spring, either with the whole price agreed for, or part thereof, most frequently 25 to 50 per cent paid down cash in advance, at once or by instalments, the remainder being payable on delivery. Sales with only 10 per cent in advance are less customary for this article.

The intercourse of the United States with Russia, both commercial and maritime, is founded on treaty regulations of perfect equality in the direct and indirect trade. The new Russian tariff went into operation January 11th, 1842; (a list of the duties on most of the principal articles, will be found in the Merchants' Magazine for July, 1842.) Duties on manufactured goods are materially increased by the new tariff. Many articles, however, formerly prohibited are now admitted on payment of very high duties; and the duties on the great body of articles previously admitted, have been all more or less increased. The duty on cotton, for the benefit of the quarantine establishment, is eighty copecks, in bank notes, per pood, (thirty-six pounds avoirdupois,) which is about eleven cents and 60-100ths, as per value of the silver rouble. The quarantine and additional duties remain as before, it being ordained that there shall be paid on all merchandise imported, an additional duty of one eighth per cent; that is to say, twelve and a half per cent on the duties of the tariff, which is thus collected. To the duty of the tariff is added the duty of the quarantine, and to this the one eighth per cent. There are also still other charges for the use of cellars and stores of entrepôt for merchandise. From consular despatches received at the department of state at Washington, it appears that the trade of the United States has materially diminished during the past few years. It is ascribed in part to the distress which has prevailed in the interior of the country, occasioned by the failure of the corn crops for the years 1839 and 1840, and the exclusion of the capital of the United States from the Russian trade; most of the cargoes of sugars imported into St. Petersburgh, in American vessels, having been in freight per foreign account. To this may be added the high price of Russian produce, and the little demand for it of late in the United States.

It appears from official documents that the quantity of cotton imported into Russia from the United States in 1838, was 2,778,472 lbs., 1839, 2,104,482 lbs., in 1840, 2,203,017 lbs.

ART. II.-THE WAREHOUSING SYSTEM.

HOWEVER Slow has been the progress of political reforms, in the different nations of the earth, commercial ameliorations have marched with a much slower pace, and have been subject to greater fluctuations. The commercial regulations, however salutary in any particular country, and at any particular period of time, have too seldom afforded examples for the adoption of the nations and times that may succeed them.

And even when sound and enlightened principles are brought to bear upon and control commercial affairs, the circumstance gives no guarantee of their perpetuity. They may expire with the government which established them; and although another nation, with more favorable institutions in other respects, may succeed, yet the same commercial policy may not be revived.

Although free institutions have always (and truly so) been considered favorable to the growth and extension of commercial enterprise, yet it is not enough for commerce and its highest degree of prosperity, that the people who cherish it are free. To give to it its greatest efficiency and usefulness, requires that its affairs shall be regulated by wise and judicious laws. Commerce, it is true, flourishes the best where least subjected to restrictive laws, and embarrassing taxes, and vexatious regulations of all kinds.

From the cheapness and facility of collection, the most powerful nations of the present day raise their principal subsidies by the imposition of duties on commercial imports, and, in some instances, on exports also. The experience of modern commercial nations unite in favor of realizing sufficient duties on the importation of goods, in a great measure, to defray the expenses of government. But while they unite on this one point of the subject, there is no question in the whole circle of political economy that has so divided mankind, or has been, in its discussion and management, productive of greater evil.

The whole question resolves itself into that of TAXATION, and the best mode of collection, whenever taxes are levied to support an economical administration of government. No one can complain, provided they can be made to bear equally on all classes and conditions of men. Taxation being necessary, it becomes a matter of serious consideration to fix the amount and mode of gathering it. We shall not stop to argue with that class of political economists, in this or other countries, who contend for the highest possible rate of taxation, for the purpose of securing a bounty to any manufacturing or other interest. Or with others, who prefer and advocate the raising of revenue by direct taxation, as being more equal, as every one would pay according to his wealth, and not according to what he might happen to comsume. We shall proceed to take for granted, that the cheapest, if not the best mode of raising a legitimate revenue, is by the taxation of commerce, or imposition of impost duties. And this being conceded, it is matter of great importance that this should be done by a method attended with as little burden and inconvenience to the merchant as the higher interest of the national treasury will permit: or, in other words, that the merchant should enjoy as much freedom and as great facilities in his commercial pursuits as the legal demands of his government will justify. One of these important and desirable privileges can only be secured

to him by the "WAREHOUSING SYSTEM," which has been so long and so beneficially introduced into England. And considering our usual eager. ness to introduce valuable improvements from the old world into our own country, it really appears wonderful that we should have so long, and so much to the serious damage of commerce, and the inconvenience and hardships of our merchants, remained without adopting it.

As one striking proof of the difficulty of effecting important commercial reforms, we may instance the long struggles the "Warehousing System" had to endure before it was fully adopted in England, where it now stands as one of the brightest and wisest monuments of her commercial regulations.

The great disadvantages of drawbacks did not attract public attention in England till the year 1733, when Sir Robert Walpole was the first to propose it in his famous excise scheme, which was to compel importers of wine and tobacco to deposit them in public warehouses, relieving them, however, from the necessity of paying duties till they were withdrawn, either for consumption or export. Thus leaving the money in the merchant's pocket that he might otherwise have been required to deposit with the government, to be again restored to him in case he re-exported the goods on which sum the merchant would lose the interest and use of principal, while the government would not be a gainer by holding it. By the old plan, the merchant would be required to pay the duty on the whole amount of goods at the time of entry; whereas by depositing them in a government warehouse, he would only pay the duties on such portions as he could sell, and would from time to time remove from the public warehouse. And thus, in many instances, his sales and profits might be such on the first parcels removed as to place him in funds to discharge the remainder, as he might have use for them; while the government would be amply secured by the possession of the goods thus deposited, and be paid in addition thereto all expenses for the stowage of the same.

It seems very strange, at this period of time, that a measure so full of wisdom and usefulness should have met with the extraordinary opposition it did, when first proposed by the celebrated English minister, Sir Robert Walpole. So powerful was the delusion of the public mind on the subject, that it was well-nigh causing a rebellion. It is said that "most of the merchants of the day had availed themselves of the facilities which the existing system afforded of defrauding the revenue; and they dexterously endeavored to thwart the success of a scheme which would have given a serious check to such practices, by making the public believe that it would be fatal to the prosperity of the country. The efforts of the merchants were powerfully seconded by the spirit of party, which then ran very high. The political opponents of the ministry, anxious for an opportunity to prejudice them in public estimation, contended that the scheme was only the first step towards the introduction of such a universal system of excise, that would inevitably prove alike subversive of the comfort and liberty of the people. In consequence of these artful misrepresentations, the most violent clamors were everywhere excited against the scheme. On one occasion Sir Robert Walpole narrowly escaped falling a sacrifice to the ungovernable fury of the mob, which possessed all the avenues to the House of Commons; and after many violent and lengthy debates the scheme was ultimately abandoned.

The disadvantages of the old plan, and the benefits to be derived from a

voluntary warehousing system, were most ably pointed out by Dean Tucker, in his "Essay on the comparative advantages and disadvantages of Great Britain and France, with respect to trade," published in 1750. But so powerful was the impression made by the violent opposition to Sir Robert Walpole's scheme, and such the force of prejudice, that it was not till 1803 that this obvious and signal improvement, the greatest perhaps that has ever been made in the commercial system of England, was fully adopted. And notwithstanding the success and great convenience the scheme has produced to the government and merchants of Great Britain, and its decided utility and popularity for a period of near half a century; the United States, in general so ready to adopt useful laws, and support and encourage by all proper means the advancement of commerce, have yet remained indifferent to a scheme which holds out so many advantages to trade. We are not aware that any serious effort has ever been made by Congress to introduce this valuable system into America; a system, so apparently and obviously beneficial.

In adopting the system, it would be a very easy matter for Congress to direct the erection of public fire-proof warehouses in the principal importing cities in the United States; into which all articles imported should be carefully stored, and entered at the customhouse, and the duties assessed, only to be collected when the goods were withdrawn for consumption, or for re-exportation. In all cases the charges for stowage to be paid at the time of the removal of the goods, whether for home use or re-shipment. In this way all expenses attending the public stowage of the goods would be more than reimbursed, and in all probability sufficient realized in the end to pay for the orignal cost of the buildings, and leave the government in the receipt of a revenue.

This scheme would greatly benefit the merchant or tax payer, as it would enable him to pay his duties at a time and in a method the least burdensome. While the government, by retaining the absolute custody of the goods till all arrears were settled, would be amply secured against all possibility of loss.

The foundation of the English act establishing the warehousing system, was prescribed in the statute, 43 of George III., c. 132. But the system was much improved and extended by subsequent statutes, and which have been embodied in the act 3, of William IV., c. 57, which took effect 1st September, 1833.

"The act empowers the commissioners of the customs, under the authority and direction of the lords of the treasury, to nominate the ports at which the goods may be warehoused without payment of duty, and the warehouses in which particular descriptions of goods may be deposited. It also affixes the time goods may be allowed to remain in the warehouse, and prescribes the regulations as to their removal from port to port, their sale and stowage in the warehouse, the remission of duties in case of loss by accident, the allowance of waste, &c." The act is a very long one and full of details, and those who would be pleased to examine more fully its provisions, will find an abstract of the act in McCulloch's Commercial Dictionary, page 1219. The whole execution of the regulations contained in the statute, rests in the hands of commissioners of customs, or in their stead, the commissioners of the treasury, and relate to the appointment of warehouse ports, and of warehouses of special security, that are so well built as for the government to guaranty the merchant against loss by fire,

robbery, &c. To the providing warehouses for tobacco. Such to be built at government expense, at such ports into which the article may be legally imported; providing for the rent to be paid on the stowage of each hogshead; continues in force warehouses appointed previous to the enactment of the present statute; confers power to revoke or alter the appointment of a warehouse; to publish all appointments in the gazettes. Warehouse keeper may give general bond; sales of goods in warehouse by proprietor to be valid; stowage in warehouses to be easy of access; goods fraudulently concealed or removed, to be forfeited. Examination on entry and landing to be provided for; goods to be carried to the warehouse under the authority of officers of customs. Goods to be cleared in three years, and ships' stores in one year-in default of which they are to be sold, and all arrearages due government paid from the proceeds, and the surplus to be paid to the proprietor of the goods. A further time of three months after sale to be allowed to the owner to clear the goods; and if not done within that time, they are forfeited. Another clause prescribes the mode of entry for exportation or for home use. Rum for stores, or for surplus stores, may be shipped without entry. Duties to be paid on original quantities, except in certain cases. Duties also to be paid on tobacco, spirits, and sugar, charged on quantities delivered, except in certain cases, excepting spirits other than rum from British plantations; and for which a scale of allowance is given, both as to time and loss, except by leakage or accident, which is otherwise provided for. Goods may be removed to other ports to be warehoused. Importers may enter goods for home use, although not actually warehoused. Prescribes the mode of entering goods for removal; bond to re-warehouse, which may be given at either port; bond how to be discharged. Goods re-warehoused held on the terms of the first warehousing; on arrival after re-warehousing, parties may enter to export, &c.; removal in the same port; done by permission of the commissioners of customs, and to any other warehouse in the said port, in which the like goods may be warehoused. Goods and parties subject to the original conditions. Bond of remover to be in force until a bond be given by a new owner. Prescribes the mode of assorting, sepa rating into some, or equal packages. No alterations to be made in goods or packages, except by the commissioners' direction. Form of repacking in proper packages; no foreign cask, &c., to be used for repacking, except those in which the goods have arrived, to be used by government for repacking. Silks, linens, &c. to be delivered out of warehouse to be cleaned; the commissioners to allow of the temporary removal of such for the purpose of their being cleansed. Copper ore may be taken out of warehouse to be smelted. Goods in bulk, of less than one ton weight, not to be received in warehouse, unless by permission of commissioners. All packages to be marked before delivery in a proper manner to distinguish them. Decrease and increase may be allowed, under regulations of the treasurer, under whose direction all deficiency or loss in weight, &c., is to be governed and decided upon. Regulates also the waste in wine and spirits in warehouses not of special security; which is about 1 per cent for any length of time not exceeding one year. Embezzlement and waste by officers to be made good to proprietors. On entry outwards, bond for shipping and landing shall be given. Restriction as to the Isle of Man. Goods removed from warehouse under the care of customs' officers. Bond for beef and pork exported from warehouses, amply provided for the ship