One of the three bases will probably be adopted, whereby a revenue exceeding twenty millions may be realized. There is no reason, however, why the South should be exempt. The Southern States must contribute, first or last, their due proportion of the direct tax. The public debt on the 1st of July, 1861, was $90,867,828, or less than three dollars per capita of the whole population of the United States. The Sugar Trade.-The Secretary of the Treasury proposes a duty of 2 cents per pound on brown sugar; 3 cents on clayed sugar; 4 cents on loaf and refined; 24 cents on syrup; 6 cents on candy, and 6 cents per gallon on molasses. The stock of sugar on hand on 1st July, 1861, was larger than for some years: STOCK OF SUgar at the FOUR PRINCIPAL PORTS. The stock of sugar on hand July 1st, 1861, compared with previous years, was as follows: 40 2,379 7,632.. 40,913 .. New-York, Boston,.... Philadelphia,. Baltimore,. TOTAL TONS. The imports of foreign and domestic sugars for four years, January to June, (six months,) were as follow: Congress, on the 17th July, passed an act authorizing the Secretary of the Treasury to raise $250,000,000, by loans and Treasury notes, for war expenses. Two tariff bills are now under consideration in Congress as we go to press with the concluding portions of this No. The results we will publish in our September No. THE BOOK TRADE. 1. The Works of Francis Bacon, Baron of Verulam, Lord High Chancellor, &c. Collected and edited by JAMES SPEDDING, M. A. 12mo., Vol. vi. Boston: BRowN & TAGGARD. The present volume of the Complete Works of FRANCIS BACON, while it forms the sixth volume in the order of publication, is the first volume of the entire series and also the first volume of the Philosophical Works. The remaining volumes will be published in regular order from volume one to ten, inclusive. In the first volume issued (volume xi.) was given a portrait of FRANCIS BACON, when a youth. The present volume, as the first of the series, properly contains his portrait at that period of life when these works were chiefly composed. The list of subscribers numbers nearly one thousand. 2. The North American Review. July, 1861. Boston: CROSBY, NICHOLS, LEE & Co. The July number of the North American is just out. The following is the table of contents:-The Public Lands of the United States; Mrs. JANE TURRELL; The Venerable BEDE; BOUVIER'S Law Dictionary and Institute; Life of Major Andre; French Critics and Criticisms; M. TAINE; Burial; The Attic Bee; FRANCIS BACON; Michigan; New Books on Medicine; The Right of Secession; HUGH LATIMER; Critical Notices; New Publications. The original paper on the Right of Secession, which is a review of JEFF. DAVIs' message to the rebel Congress, will be read with much interest. 3. Cyclopedia of Anecdotes of Literature and the Fine Arts. By KAYLITT ARVINE. One vol, octavo. Published by GOULD & LINCOLN, Boston. It is hardly possible to speak too highly of this excellent work. The laborious industry of the author, has brought together an innumerable host of anecdotes from every attainable source. It is a charming volume to read, and after one has read it, invaluable as a book of reference; affording every facility for the latter purpose by its admirable arrangement and copious indexes. We can heartily commend it to all who like to be amused or instructed. 4. The American Tract Society, Boston, have published recently the following volumes: 1. Life of DANIEL SAFFORD. 80 cents. 2. SWEDENBORG and his Doctrine. By Professor POND. 50 cents. 3. Songs for my Children. Illustrated. 30 cents. 4. Sunday Alphabet of Animals. Illustrated. 30 cents. 5. Aunt KATIE'S Talks at Bedtime. 25 cents. 6. Walks and Talks. 25 cents. 7. Stories for Little Ones. 25 cents. 8. 48 Envelope Tracts, in neat package. 10 cents. 9. Books for the Soldiers: Sketch of Capt. HEDLEY VICARS; Sir HENRY HAVELOCK; The Soldier's Mission; The Soldier's Text Book; and other books in flexible covers, for the pocket and knapsack, each 10 cents. These recent publications of the Tract Society, instituted at Boston, in 1814, will be found unusually interesting. Among those for children, The Sunday Alphabet, Stories for Little Ones, and Songs for my Children, are especially attractive; the latter possess all the charm of Mother Goose, with far more wisdom in its rhymes. SWEDENBORG and his Doctrines is a revised edition, in very neat form, of Professor POND'S well known work. The Memoir of DANIEL SAFFORD is one of the best religious biographies that we have ever read; it is a pleasantly written story of the outward and inner life of a devoted Christian. The books for soldiers, are also excellent, and we should be glad to have thousands of them distributed among the men of our army. THE MERCHANTS' MAGAZINE AND COMMERCIAL REVIEW. Established July, 1839. EDITED BY J. SMITH HOMANS, (SECRETARY OF THE CHAMBER OF COMMERCE OF THE STATE OF NEW-YORK,) AND WILLIAM B. DANA, ATTORNEY AT LAW. VOLUME XLV. AUGUST, 1861. NUMBER II. CONTENTS OF No. II., VOL. XLV. Авт. PAGE I. THE RAIL-ROAD SYSTEM OF MASSACHUSETTS.-1. Wealth of Massachusetts. 2. The first Canal and the first Rail-Road. 3. Early Rail-Road progress in the Commonwealth. 4. Financial Policy. 5. Rail-Road Extension to Albany. 6. The Revulsion of 1857. 7. Horse Rail-Roads. 8. The Boston and Worcestor Rail-Road. 9. The Boston and Lowell Rail-Road. 10. The Boston and Providence Rail-Road. 11. The Eastern Rail-Road. 12. The Boston and Maine Rail-Road. 13. The Fitchburg Rail-Road. 14. The Fall River Rail-Road. 15. The Boston and New-York Central Rail-Road. 16. The Western Rail-Road. 17. The Troy and Greenfield Rail-Road. 18. Conclusions. 19. Recent Dividends,.. II. INDUSTRIAL AND COMMERCIAL CITIES.-No. LXXX. BALTIMORE Imports and Exports. 2. Flour Inspections. 3. Tobacco Inspections, Exports and Stocks, 18481860. 4. Imports of Guano, 1849-1860. 5. Iron. 6. Coffee. 7. Coal Trade. 8. Oyster Trade. 9. Arrivals and Clearances,.. III. COTTON, FLAX, WOOL AND SILK.-Their early History in the United States. 1. The first Legislation in Massachusetts in behalf of Domestic Industry. 2. Introduction of the Cotton Gin. 3. The first Exports of Cotton from the United States. 4. India Cotton and Silk Goods 5. The use of Flax Fifty Years ago. 6. Effects of the Embargo and the War with England. 7. Steam Navigation and Rail-Roads. 8. The Impulse given to Manufactures by the Discovery of Gold in California,.. 113 181 136 IV. STATISTICS OF MANUFACTURES IN THE U. S. AND IN EACH STATE,.... 139 V. RATES OF TOLL ON THE NEW-YORK CANALS, 1861.-Established by the Canal Board on Persons and Property Transported on the New-York State Canals,...... 145 VI. COMPARATIVE PRICES OF LEADING ARTICLES IN THE NEW-YORK MARKET, on the 1st of May, in each year, from 1849 to 1861,.. 150 VII. IMMIGRATION OF THE PORT OF NEW-YORK.-The Ports whence Emigrant Passenger Vessels have arrived, together with the nationality and number of Vessels, and number of Emigrant Passengers and others from each Port,.... 152 VIII. THE NEW-YORK CLEARING HOUSE.-Exchanges and Balances each Month to October, 1860. Deposits, Circulation and Loans of the New-York Banks,.................... 157 IX. REPORT ON THE HARBOR OF NEW-YORK.-1. Report on the Physical Surveys of New-York Harbor and the Coast of Long Island, with descriptions of Apparatus for observing Currents, &c. 2. Tides and Currents of New-York Harbor and its Approaches,...... 160 X. THE PRINCIPAL HARBORS AND RIVERS OF THE UNITED STATES.-Table showing the least water in the Channels of Harbors, Rivers and Anchorages on the Coasts of the United States. By an Officer of the United States Coast Survey,.. 168 XI. SHIP-BUILDING AND TONNAGE OF NEW-YORK AND THE U. S.-1. Statement exhibiting the number of American and Foreign Vessels, with their Tonnage and Crews, which entered into the several Districts of the State of New-York from Foreign Countries, during the fiscal year ending June 30, 1860. 2. Statement showing the Number and Class of Vessels built, and the Tonnage thereof, in the State of New-York, during the year ending June 30, 1860. 8. Statement showing the Number and Class of Vessels built, and the Tonnage thereof, in the several States and Territories of the United States, from 1815 to June 30, 1860, inclusive. 4. Recapitulation of the Number and Class of Vessels built in each State of the Union during the fiscal year ending June 30, 1860. 5. Statement exhibiting the amount of the Tonnage of the United States at various periods, also the Registered, and Enrolled and Licensed Tonnage employed in Steam Navigation each year,.. 178 184 XII. COMMERCIAL TREATIES WITH FOREIGN NATIONS, YEAR 1860.-1. Treaty JOURNAL OF MINING AND MANUFACTURES. 200 1. Statistics of Lowell. 2. Michigan Copper Mines. 3. French Wines. 4. Flax Cotton, 5. New Mineral Discoveries in California. 6. New Silver Alloy,....... 205 FOREIGN CORRESPONDENCE OF THE MERCHANTS' MAGAZINE. COMMERCIAL CHRONICLE AND REVIEW. 208 Meeting of Congress-Fiscal Year Ended-Foreign Imports at New-York, June, 1861-Same Years 1857-1861-Heavy Exports of Produce to Europe-Foreign Trade of New-York, 18511861-Export of Grain, 1861-Estimates of Revenue by the Secretary of the Treasury-Imports of Dry Goods at New-York-Foreign and Domestic Exchanges-Rail-Road Dividends, 214 THE BOOK TRADE. Notices of new Publications in the United States,.. 992 THE MERCHANTS' MAGAZINE AND COMMERCIAL REVIEW. SEPTEMBER, 1861. TAXATION IN THE NEW AND OLD WORLD. COMPARATIVE Revenue and EXPENDITURE OF GREAT BRITAIN, FRANCE AND THE UNITED STATES. -SOURCES OF REVENUE IN FRANCE.-HEADS OF EXPENDITURE,-HEADS OF TAXATION IN GREAT BRITAIN. NEW SOURCES OF Revenue in the UNITED STATES, for War PurpoOSES ONLY. In an examination of the bearings of the war tax and the revenue bills which have just become law in the United States, it may be well to compare the results with the usual revenues raised by two of the great European governments in times of peace. Such a comparison will show that, with a war on our hands, we are scarcely taxed to an amount equal to that raised from the people of France and England, when those nations are at peace. England is now in a state of profound peace, so is France; yet their ordinary annual expenditures are, as compared with the United States£ 70,000,000 or $330,000,000 1,800,000,000 francs, or 340,000,000 80,000,000 Great Britain,... . . . France,.. The United States,.. The ordinary expenditures of the United States in times of peace are seventy to eighty millions of dollars; and now, with a costly war to carry on, the expenses for a single year are estimated at less than those of Great Britain or France. The government of Great Britain realized last year nearly seventy millions sterling from duties, internal taxes, excise, stamps, &c., viz. : |