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market value at New-York, and differ materially from the Custom-House valuations in the treasury reports:

FOREIGN EXPORT OF PROVISIONS FROM UNITED STATES PORTS, EIGHT MONTHS,

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The importation of dry goods for the month of August has been exceedingly slight, less than fifteen per cent. of the value for August, 1860. Adding the quantities withdrawn from warehouse, the aggregate placed on the market is only $3,674,624, of which the following tabular statement conveys the details:

IMPORTS OF FOREIGN DRY GOODS AT NEW-YORK FOR THE MONTH OF AUGUST. Entered for Consumption.

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Entered at port,... $ 11,574,540..$ 15,146,907.. $14,989,044

$ 3,536,333

For the whole year 1861, embracing eight months only, the total amount of dry goods put upon the market has been a little over thirty millions; of which more than one-half was in goods withdrawn from bond. We annex the particulars for four years:

IMPORTS OF FOREIGN DRY GOODS AT THE PORT OF NEW-YORK FOR EIGHT MONTHS.

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Total,.......

1859.

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18,004,221

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25,478,077

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7,474,910 4,185,036

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$36,390,220.. $ 81,512,220 . $71,533,210 ..$ 18,949,502

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The exports from New-York to foreign ports show a cessation in specie, while the exports of domestic produce exceed those of any previous year in the history of the port:

EXPORTS FROM NEW-YORK TO FOREIGN PORTS FOR THE MONTH OF AUGUST.

81,512,220

..

71,533,420 18,949,502

$ 86,929,891

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Domestic produce,...

$4,660,272.. $5,150,710.. $8,012,814 .. $9,652,301

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374,707

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Specie and bullion,.

2,201,802

6,409,783 7,454,813

3,600

Total exports,....

Total, exclusive of specie,

7,189,186 ..$ 12,725,846 ..$ 15,934,900
4,987,384 .. 6,316,063 8,480,087 ..

9,886,848

We may assume that the commercial features for the present month and the next four months will not vary essentially from those of July

$9,890,448

and August. We have ample indications that the European demand for our grain and provisions will continue.

EXPORTS FROM NEW-YORK to FOREIGN PORTS FOR EIGHT MONTHS, FROM JANUARY 1.

Domestic produce,..

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.$38,012,626 ..$ 38,524,357 ..$ 54,294,389 .$ 80,682,529

Foreign mdse., (free,)... 955,698
Foreign mdse., (dutiable,). 2,782,282
Specie and bullion,....

Total, exports,..

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17,363,257 49,658,774

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$59,113,863 ..$ 93,135,474 ..$ 95,345,777 ..$ 89,769,117 Total, exclusive of specie, 41,750,606 43,476,700 59,747,227 86,505,059

The average custom-house receipts for August were about fifty thousand dollars per day, an aggregate of $1,558,824, against the sum of $3,946,830 for August, 1857. We annex details for four years:

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The shipments of produce in August, for two years, have been extraordinarily large, and yet are largely exceeded by those of August, 1861:

EXPORTS FROM NEW-YORK TO FOREIGN PORTS FOR THE MONTH OF AUGUST.

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NOTE. The article in our present No. (pp. 353-368) on the Amoor region must claim the earnest attention of the mercantile world. There is no doubt that the Amoor, with its neighbors, the Japanese islands, offer a wide field for observation and for commercial enterprise. We have the pleasure to record the fact, that both ends of the magnetic telegraph, which will eventually encompass the earth, are now in working order, viz., in part between the Mississippi and San Francisco, as the eastern terminus; and one thousand miles or more eastwardly from MosCOW. In connection with this remark we add, that on the 29th ult'o the

brig TIMANDRA arrived at San Francisco in thirty days from the Amoor River, with a cargo of hides. Thus we had, on the 19th of September, by aid of the telegraph and the above arrival, advices from the Amoor to the 1st of August, only fifty days. An arrival at San Francisco from Petropolowski, on the southern border of Kamschatka, a part of Asiatic Russia, is also chronicled in August last.

The Russian government have adopted a more favorable policy towards foreigners, in consequence of which there has been a large influx of merchandise, and all kinds of business has been overdone. Merchants from the interior were purchasing but sparingly; the stocks in the country being so large, the markets were much depressed. The stocks of goods were heavy, and prices of all kinds ruled low. The late prohibition on the importation of teas in Russian Siberia and the seaboards was only temporary; new and large quantities had been received this season from China, and admitted free of duty, while at Kiachta, the great inland tea dépôt, and the only place where its importation was previously allowed, the old duty of thirty cents per pound on black and fifty cents on green was still enforced. One of the new river steamers, lately arrived from Boston, was loading a full cargo of teas for the head waters. The KASSAWITCH was also loading a general cargo at Sitka. It is announced that the government telegraph from Cikutish to Nicoloefski, across the continent of Asia, will be commenced this season, and pushed forward to completion as early as possible, under the superintendence of Mr. ROMENOFF.

There are no articles in the New-York market that have undergone greater fluctuations this year than those included in what are termed "Naval Stores," viz.: rosin, turpentine, tar and pitch. The advance in some cases within the past six months exceeds two hundred per cent. The following tabular statement will give the reader an idea of the market values of these articles and of oils, during the past three years. The supplies from North Carolina having been checked by the war, high prices will prevail, probably, for the remainder of the year:

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Linseed, city made,................

gall.

Whale, refined bleached spring,. gall.

Sperm, spring unbleached,....... gall.
Lard, No. 1, winter,....

59 @
58 @ 60
1 50 @ 1 55

60 @ 62

gall.

per lb.

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March 19th, 1861.

Palm, [cask,] first quality,.. ....per lb. $0 08 @ $0 08%.. $0 08%@ $0 09

Tallow,

Sept. 17th, 1861. .$400 @$4 12%

750 @ 9 00 1 25 @ 180 10 50 @ 11 00

4 87%@ 5 00

4 25 @ 4 50 Sept. 17th, 1861.

$0 08%@ $0 09

59 @ 60 45 @ 50 1 40 @ 1 45

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FOREIGN CORRESPONDENCE

OF THE MERCHANTS' MAGAZINE AND COMMERCIAL REVIEW.

LONDON, September 6th, 1861.

To the Editors of the Merchants' Magazine:

THE leading financial features of the month were the sudden changes in the bank rate of discount. At the close of July the rate was 6 per cent. at the bank; a rate adopted on the 16th of May last. On the 1st of August the rate was reduced one per cent., viz., to a minimum of 5 per cent. On the 15th of August a further reduction took place to 44 per cent.; and on the 29th a third change was made to 4 per cent. The fall witnessed during the last month has not often been exceeded in rapidity. In their present measure the bank directors have been guided solely by the bullion reserve and the condition of the Continental exchanges, which appear fully to justify the reduction. The fall in the rates in the open market to a point still below the new charge at the bank goes further to confirm the action of the bank; but our soundest financial men deem these changes prejudicial, and consider a low rate of discount as fostering speculation. The exchanges on the Continental cities remain generally in a satisfactory position, and gold continues to flow into the bank. Any further reduction in the same direction will probably be weighed by the directors with great deliberation, considering the deficient harvest in Scotland and Ireland, and the belief that in England the result is below an average.

In Lombard-street the demand for money was brisk, but the rates for good bills did not exceed 33 to 3 per cent. It is worthy of record that, notwithstanding the repeated reductions in the Bank of England charge, business at that establishment last week was slack.

In consequence of the alteration at the bank, the joint-stock banks have reduced the rate allowed for deposits from 3 to 3 per cent., except that the London and Westminster allow only 2 for sums below £500. The discount establishments will henceforward give 3 per cent. (instead of 3) "at call," and 34 (instead of 3) "at notice."

The cotton question is really the paramount topic in commercial and financial circles throughout England. There are so many interests connected with as well as subordinate to the supply of cotton, that the minds of our leading men, both in and out of Parliament, are deeply concerned in solving the two problems: First, as to fresh sources of supply; and, secondly, as to the probabilities of (and proper measures to) adjustment between the Northern and Southern States of America. Á meeting of merchants connected with the East India trade, and other parties interested in the question of cotton supply, was held here on the 29th ult., to consider the propriety of forming a joint-stock company, with adequate capital, which should establish agencies in the interior of India, to purchase the cotton from the grower "as it leaves the pod," clean it by machinery, press and pack it on the spot into bales secured

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