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The capital of the banks of New-York, Boston and Philadelphia, and the respective proportions under a pro rata division, would be as follow:

Bank Capital. Pro rata proportion of 50 millions. New-York,.. .$ 70,000,000

$ 29,500,000 Boston,

38,000,000

15,500,000
Philadelphia,
12,000,000

5,000,000
It was proposed and finally agreed that the division should be-
To New-York,...

.$ 35,000,000 To Boston,..

10,000,000 To Philadelphia,.

5,000,000 All the banks of this city promptly ratified the agreement; and subsequently those of Boston and Philadelphia assented. The ability of these institutions, with sixty-five millions of specie, to sustain this important movement, is unquestioned. It is obvious that the money which the government receives is to be spent at home, and thus will not disturb the foreign exchanges. It is to go out at once into the general circulation of the country, in payment for services and merchandise; and, paid to one man, it passes quickly to others. The movement by which it is set in motion is simply a inercantile undertaking on a vast scale, which is to be confined to our own limits, and to give to our own people all its advantages. Indeed, this is peculiarly true so far as New-York and New-England are concerned; for such is the amount of supplies which must be drawn hence, and the number of our troops now in the field, that the amount expended by the government at the North is likely to more than equal what is raised here. These considerations, coupled with the fact that the balance between Boston and New-York, is heavily in favor of the latter, are sufficient to answer all doubts, as to the ease with which our banks can undertake an operation to the extent of one-fourth of their capital and one-sixth of their loan.

The strength of the New-York Banks is indicated by the following summary :

Weekly Loans. Specie. Circulation. Deposits. Clearings. Treasury. Jan. 5, $129,625,465 $24,839,475 $8,698,283 $86,454,430 $ 95,994,868 $ 3,645,500 Feb. 2, 121,907,024 31,054,509 8,099,376 87,879,743 122,138,525 4,328,000 Mch. 2, 121,893,963 34,480,407 8,290,755 89,635,298 126,728,832 9,166,030 Apl. 6, 122,113,496 41,705,558 8,930,141 94,859,810 123,277,671 8,486,494 May 4, 124,610,166 38,054,254 9,296,399 94,977,381 106,413,316 9,761,752 June 1, 118,290,181 37,502,402 8,683,780 90,197,459 88,847,249 11,468,789 July 6, 112,134,668 45,630,025 8,862,799 90,579,753 88,313,230 4,616,620 Aug. 3, 111,719,111 46,226,181 8,685,574 92,229,384 81,415,525 6,738,059 Aug.17, 108,717,434 49,733,990 8,521,426 92,046,308 80,172,670 4,380,239

We annex the ruling rates for business paper at this date, as compared with the last week in April, May and June :

May 22.

June 24. July 24. Aug. 24.

per cent. per cent. per cent. Loans on call, State stock securities,

54 @ 7 6 @ 6 6 @ 6 4 @ 5 bond and mortgage,..

8 @ 9 6 @ 7 6 @ 7 6 @ 7 Prime endorsed bills, 60 days,

7 @ 10 6 @ 7 5 @ 6 6 @7 First-class single signatures, 4 to 6 months,.. 8 @ 10 8 @ 12 7 @ 9 9 @ 10 Other good bills,.

10 @ 12 12 @ 15 9 @ Names less known,..

15 @ 30 no sale. no sale. no sale. The new features of the tariff went into operation from the time of its passage. We give the bill entire, for the benefit of our readers, in this number, pages 235–256. The following section, we fear, will give trouble

Sub

1961.

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in some cases, in discriminating between goods shipped on board the same vessel before and after the 5th day of August, when the tariff was passed :

Sec. 5. And be it further enacted, That all goods, wares and merchandise actually on shipboard and bound to the United States, and all goods, wares and merchandise

posit in warehouses or public stores at the date of the passage of this act, shall be subject to pay such duties as are provided by law before and at the time of the passage of this act.

The imports for July from foreign ports show a total of only $3,191,920 dutiable goods entered directly for consumption; and, including seren millions of specie and three millions of free goods, the aggregate for the month is less than fifteen million dollars.

FOREIGN IMPORTS at New-YORK IN JULY, 1858–1861.
ENTERED.

1858.
1859.
1860.

1861. For consumption,..... $ 14,013,659 $ 21,681,460 $18,759,905 .. $3,200,663 For warehousing,..

2,949,166 3,943,374 4,462,475 1,769,636 Free goods,....

1,506,027 1,486,147 .. 1,594,918 2,972,054 Specie and bullion,

36,895
175,139

64,351 6,996,498 Total entered,.. $18,505,747 $ 27,286,120 $ 24,881,649 $ 14,938,851 Withdrawn,

3,164,538 2,595,063 3,593,993 6,622,454 The official tables show that the foreign imports at this port, exclusive of specie, since January 1st, are only 885,891,561, against $141,847,307 for the same period of last year, and $155,149,912 for the same period of 1859. In this connection it will be interesting to compare

the

progress of the trade during the last seven months with the same period in former years, in regard to other particulars, and for this purpose we have separated the receipts of foreign dry goods from the imports of general merchandise : Foreign IMPORTS at New-York For Seven MONTIS, FROM JANUARY 1st, 1858-1861.

1858.
1859.
1860.

1861. For consumption,.. $50,334,179 .. $ 113,511,023 .. $ 98,705,594 .. $ 35,191,920 For warehousing,.. 15,185,419 23,209,758 25,377,377 30,441,676 Free goods,

12,955,525 18,429,131 17,765,566 20,257,965 Specie and bullion, 1,815,258 1,301,082 .. 751,188

32,906,166 Total entered,... $80,290,381 $ 156,450,994 .. $ 142,599,725 .. $ 118,797,727 Withdrawn,..... 25,076,502 . 14,110,784 .. 17,909,650.. 25,996,550

The extraordinary feature as to specie exceeds any previous period in the history of this country. The dry goods for the

past seven months are very limited, although the import of general merchandise is less than in the year 1858: Relative Imports of Dry Goods, Specie and General Merchandisc at New-York for the

first Seven Months of the last Eleven Years. Seven Imports of Imports of Imports of

Total Months of Dry Goods. Gen'l Mdse.

Specie.

Imports. 1851, $42,240,217 $43,174,714 $1,480,476

$ 86,895,407 1852,

34,994,294 37,215,342 2,028,248 74,237,884 1853,

57,421,619 59,393,895 1,099,516 117,915,030 1854,

55,308,993 58,126,642 1,606,090 115,041,725 1855, 34,724,393 49,008,832

523,151 84,256,376 1856, 60,296,946 72,767,795

963,500 134,018,241 1857,

66,716,293 84,156,030 5,857,310 156,729,633 1858,

30,169,358 48,305,765 1,815,258 80,290,381 1859,

71,782,984 83,366,928 1,301,082 156,450,994 1860,

63,362,687 78,485,850 751,188 142,599,725 1861,

31,515,606 54,375,955 32,906,166 118,797,727

ENTERED.

The cash duties received at the port of New-York, during the month of July, have been less than for the same period of previous years ; they are reckoned, of course, upon the goods thrown on the market. We annex a comparative summary :

Cash DUTIES RECEIVED AT NEW-YORK.
1858.
1859.

1860.

1861. In July,.... $3,387,305 .. $4,851,243 89 .. $4,504,066 04 ..$2,069,590 86 Previous six mos.,. 11,089,112 19,512,181 99 18,339,679 30 10,585,334 95

Total since Jan. 1, $ 14,476,418 $ 24,363,428 88 $ 22,843,745 34 $12,654,925 81

The exports show some very singular changes. The most noticeable features are, of course, the great increase in shipments of produce, and cessation in shipments of specie. During no month of the year has this been more noticeable, although we are now comparing with a period of last year when the exports of produce on a large scale had commenced, and were rapidly assuming very large proportions : EXPORTS FROM NEW-YORK TO FOREIGX Ports FOR THE Month OF JULY.

1858.
1859.
1860.

1861. Domestic produce,.. .$4,771,962 .. $4,938,065 .. $7,525,713 .. $9,552,789 Foreign mdse., (free,)... 70,463 380,782 .. 232,552 203,325 Foreign mdse., (dutiable,). 277,419 232,527 .. 140,949. 260,866 Specie and bullion,... 2,801,340.. 10,051,019 .. 6,563,985 11,020 Total exports,.

$ 7,921,829 .. $ 15,602,393 .. $14,463,199 ..$10,028,000 Total, exclusive of specie, 5,119,844 .. 5,551,374 .. 7,811,214.. 10,016,980

The movement of produce from the interior continues to be very large. The receipts at tide-water of the principal articles of produce, from the opening of the canals to and including the 14th of August, have been as follow :

1859.
1860.

1861.
April 15.
April 25.

May 1. Flour, .bbls. 209,796

372,980

523,852 Wheat, ..bush. 696,003

4,480,923

11,811,333 Corn,

1,392,881
7,642,394

8,060,289 Barley,

147,194

75,913

187,420 Oats,

2,347,931
3,547,727

2,595,028 Rye,...

99,146
121,967

387,984 The returns from other lines of improvement would probably show an equally favorable result.

The receipts of foreign gold and silver, and of gold from California, at New-York, and at Boston for New-York account, since January 1, are about as follows: Foreign gold entered at New-York,.

$ 33,365,000 Foreign gold entered at Boston,.

7,396,000 California gold at New-York,.

22,250,000 Total income of gold since January 1,.....

$ 63,011,000 Against same time in 1860 : From California,

$ 21,691,000 From abroad,

751,000

$ 22,442,000

Canal open,

Increased receipts since January 1,....

$ 40,569,000

The shipments of domestic produce for the past seven months are more than double those for the same period of 1858 and 1859.

It is somewhat remarkable that the comparative exports for seven months in each of the last three years foot

up

about the same, but are made up of very different items. In 1859, forty-three millions of specie were included ; in 1860, twenty-eight millions; while in 1861, only three millions of specie have been exported during the whole seven months. EXPORTS FROM New-YORK To Foreign Ports FOR SEVEN MONTHS, FROM JANUARY 1.

1858.
1859.
1860.

1861. Domestic produce,.... $33,352,354 ..$33,373,647 .. $46,281,575 ..$ 71,030,228 Foreign mdse., (free,).. 853,024 .. 1,765,100 1,860,424. 1,888,654 Foreign mdse., (dutiable) 2,557,844 . 1,021,890 . 3,325,061 3,699,329 Specie and bullion, 15,161,455 .. 43,248,991 . 28,143,737.. 3,260,458

BREADSTUFF8.

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Total exports,..... $51,924,677 .. $ 80,409,628 ..$ 79,610,797 ..$ 79,878,669 Total, exclusive of specie, 36,763,222, 37,160,637.. 51,467,060.. 76,618,511

With this heavy influx of gold it is obvious that the foreign exchanges remain at a low price, as in May, June or July. The following were the current rates at the dates named:

May 22.
June 24.
July 24.

August 24. London, bankers' bills,.... 1054 @ 1061 1054 @ 1054 1071 @ 1074 1077 @ 1074

Do. mercantile bills, 105 @ 106 1044 @ 105 1054 @ 1064 106 @ 1077

Do. with bills of lading, 1031 @ 1041 1021 @ 104 1041 @ 1051 105 @ 106 Paris, bankers' bills,... 5.45 @5.25 5.40 @5.37 5.30 @5.274 5.40 @5.27 Amsterdam, per guilder,... 39 @ 40 39 @ 394

404 @ 41 399 @ 401 Bremen, per rix dollar,.... 77 @ 78 757 @ 761 774 @ 78 76 @ 77 Hamburg, per marc banco,. 35 @ 354 34$ @ 35+ 354 @ 36

35 @ 35$ Prices of certain Articles of Domestic Produce at New-York on the 1st of August, in

each of the last five years.
1857.
1858.

1859. 1860. 1861. Flour, stand. sup. bbl.,. . $ 6.45 $ 4.10 $ 4.90 $ 5.10 $ 4.05 Wheat, wh. west., bush.,

1.12
1.15
1.35

1.20 Wheat, red west.,

1.65
1.10
1.00
1.25

1.12 Wheat, Chic. spg.,

1.38
85

75
1.17

87 Wheat, Mil. club, 1.45

1.23 Rye, bush., 1.12

77

811 Corn, mixed west., bush., 90

91

62 Cotton, mid, up., per lb., 153

125
121 103

16 NAVAL STORES. Spirits turpentine, gall.,

451

453
38

81 Rosin, common, bbl.,.... 1.85

1.52
1.75
1.45

3.94 PROVISIONS. Pork, mess, bbl.,... 24.25

17.50

15.25 19.121 16.00 Pork, prime, bbl.,... 19.50 14.12} 10.87} 14.25 10.75 Beef, repacked west., bbl., 16.50

13.00
12.00 10.00

9.75 Butter, State, per lb.,... 20

18
18
18

11 Cheese, State, per lb.,.

8

10 Lard, prime, per lb.,...

151
117
104 135

9 Rice, per 100 lbs....

6.50
3.50
4.00
4.621

5.75 Sugar, fair, refined,..

9
5$
61

5$ Wool, med. fleece, Ib.,... 46

40
45

46 Whiskey, gall......

314
25
254

21 162 Prices have changed materially on some articles during the month; thus, flour and grain are a little higher; cotton is two cents higher, and spirits turpentine and rosin have made a very rapid upward movement. The export orders for breadstuffs continue, the most active demand for wheat being for the Continent.

95 80

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J. SMITH Homans, (SECRETARY OF TIR CHAMBER OF COMMERCE OF THE STATE OF NEW-YORK,)

AND WILLIAM B. DANA, ATTORNEY AT LAW.

VOLUME XLV.

SEPTEMBER,

1861.

NUMBER III.

CONTENTS OF No. III., VOL. XLV.

PAGE

ART.
I. 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 PURPOSES,.. 225

II. COFFEE AND THE COFFEE TRADE.-1. Diminished production in Brazil. 2.

Causes of Decline. 3. Coffee Markets of Europe and the United States. 4. Exports
from Rio Janeiro, 1846—1861. 5. Lowest and IIighest Prices in New York, 1846—61, 228

III. ACTS OF THE THIRTY-SEVENTI CONGRESS.-1. The Collection of Duties on

Imports. 2. An Act to Provide Increased Revenue from Imports, to pay the Interest
on the Public Debt, and for other purposes. 3. An Act to Increase the Consular

Representation of the United States during the present Insurrection,.. ...... 230
IV. ANNUAL REPORT ON THE SALT TRADE OF THE UNITED STATES for the

year 1860, with the Estimated Production of each State, the Foreign Imports and
Exports for the year, and prices for each month,....

257 V. ANNUAL REPORT ON DRUGS AND THE DRUG TRADE, for the year 1860,.... 261 VI. ANNUAL REPORT ON BREADSTUFFS AND PROVISIONS.—Exhibit of the Ag

gregate Value of Breadstuffs Exported to Foreign Countries from the United States,
for each year, 1828, to 1st July, 1860; also the Export Value of Provisions for the

same period-Exports to Great Britain and the Continent, and Values thereof,..... 268 VII. ANNUAL REPORT ON FREIGHTS, FOR 1860.-Rates to Liverpool, London, Havre, Galveston, Havana, Vera Cruz, &c., each month of 1860,..

270

VIII. TIIE TEA TRADE OF THE YEAR 1860.-Imports, Exports of each Port and Values, 272

IX. OPERATIONS OF THE UNITED STATES ASSAY OFFICE, New-York, 1860, ..... 273

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