Domestic Manufactures.-Among the most agreeable features of the year have been the obvious improvements in, and successful prosecution of, the manufacture of cotton goods in New-England, with a liberal rate of compensation on the amount of capital invested. The total consumption of cotton last year (year ending 31st August, 1859) is ascertained to have been over 900,000 bales, or about fifty per cent. beyond that of the preceding year. The increased cousumption of cotton in the United States, since 1848, appears as follows:

1858-9,. 1857-8,.....

1856-7,....

1855-6,.

1854-5,.

1853-4,..

North of Va. Elsewhere. Total. .bales, 760,218

North of Va. Elsewhere. Total. 167,433 927,651 1852-8,......bales, 650,393 153,332 SC3,725

The cotton manufacturing interests have dragged seriously for some years, and the depression which marked the period since the Tariff of 1846 is now likely to be followed by a more profitable series of years.

This class of investments is rapidly regaining popularity. The profits of the last eighteen months have been eminently remunerative; and, following the old course, the large dividends are to be re-invested in new spindles. Anticipating this result, it will be well to recur to the progress of manufacturing stocks as indicated by the market prices at several dates since 1842. The thirteen corporations named below are selected because of the approximate certainty of quotations. The figures of the last column, in the absence of recent transactions, are, perhaps, a shade lower than the market would command. The prices of 1842 were the lowest of that year- —a time of remarkable depression. Those of 1847 were the highest of that date, when the maximum was reached. The third and fourth column give the prices obtained at executors' sales in October, 1854, and May, 1856:

1842. 1847. 1854. 1856,

1858.

1859.

The cotton and woollen manufacturing interests of the country were paralyzed in 1857 by the same shock which was experienced in the business community generally. Almost every spindle was idle, and the accumulated stocks of domestic goods-the result of the uninterrupted production of years-together with the mass of foreign fabrics in warehouse, bore heavily on the market, and reducing the prices of all styles below any previous valuation.

The following year, importations having in a great measure ceased, the wonderful recuperative energies of the country were manifested by a gradual revival of business; and at the same time the treaties of commerce, providing for the abandonment of that exclusive and seclusive policy, which had for centuries governed nearly one-third of the population of the world, being consummated, confidence was restored, exportations increased, and before its close the large stocks of goods which had hitherto oppressed the market passed away, although the manufacturing districts had resumed their wonted activity, and the production of all fabrics had become equal to that of former seasons. We commenced the present year with these favorable phases of the market, with small stocks on hand generally, while many styles of cotton goods were sold far in advance of possible delivery, and we have maintained the same relation of supply and demand throughout the year, with some unimportant exceptions. The southern and southwestern portions of the country yielding the most favorable crops, furnishing more than one-half of the exchange required in our foreign trade, were enabled to continue their regular consumption of domestic goods; while the west and southwest, not having recovered from the embarrassments of the revulsion, have confined themselves to the most rigid economy, and their purchases to articles of prime necessity, which have restricted their consumption beyond any precedent. The revival of the export trade with the East and South American coast, as well as the opening of new markets, has swept off any surplus stocks which otherwise might have been apparent, and incidentally sustained the firmness in fabrics adapted to home consumption. The exports have been larger than at any period for years, as will be observed by the tables annexed; and judging from the present engagements of exporters, which in some instances extend into Autumn, we are led to believe that the shipments for the coming year will far exceed the past, and which will find no par allel in that department of our commerce. It will form a mere bagatelle as compared with the exportations of the English manufacturers. This department of American industry could be increased almost indefinitely, whereas we scarcely represent more spindles at this time than we did ten years since; while Great Britain and other manufacturing

districts have daily enlarged their enterprises, until a crop of four and a half millions of bales of cotton is barely sufficient to allay their anxieties respecting the supply of the raw material; and ten years ago a crop of less than one-half of that amount proved sufficient for the wants of the world.

The extension of that department in England has been unparalleled in the history of any other branch of industry in the world. Although the restrictions in the employment of operatives, and the reduction of the hours of labor from 69 to 60 hours weekly during the past few years, the imports of raw cotton increased from 646,000,000 lbs. in 1844 to 1,034,000,000 in 1858, and the exports of cotton manufactured goods and cotton twist yarns increased from twenty-six millions sterling in 1844, to forty-three millions in 1858.

Thus, while we export nearly eight millions of dollars in domestic cotton, they export more than twice that quantity to this country, and nearly two hundred millions dollars to other parts of the world annually.

It has been supposed by some, that the natural and physical advantages of England for manufacturing were superior to those of any other country on the globe. But the history of the past few years has proved the error of this theory. England at one time supplied the continent almost exclusively; at present many of the continental States not only produce their own goods, but are her successful rivals in the foreign markets. Wherever exist, in combination and in abundance, water-power, iron, fuel and labor, cotton manufacturing can be successfully prosecuted; and there is no good reason why this country should not assume a position in that department which a combination of causes seem to indicate. With cotton at our own door, with a temperate climate and the price of labor nearly equivalent to English standards, this branch of industry should. be extended, not only for the employment which it affords for the increasing population that swarm in manufacturing districts, but also for the encouragement it affords to an increasing commerce. We annex a

table showing the

Exports of Domestic Cotton Manufactures from the United States from

Exports of Domestic Cotton Manufactures from Boston, New-York, Philadelphia, Baltimore and other Ports, from 1856 to 1860.

The woollen department, after the revulsion, was prosecuted with vigor, and placed on a more promising basis. The year opened with low wools, and the same causes which contributed so much towards the prosperity of of the cotton, operated favorably with the woollen manufactures. But the present year the clip of wool opened twenty per cent. higher in prices, and has maintained its valuation throughout the year. The war in Europe flooded the country with low woollens from the continental markets, which reduced the prices, even on styles for which they were a mean substitute, and the general business has not been remunerative or satisfactory.

The improvements in the manufacture of fancy woollens, during the past few years, have been of the most satisfactory character. The taste and skill displayed in the manufacture would give credit to even the foreign fabricant, and the time will soon arrive, when few first-class goods for men's wear will be imported, if the same progress is made as heretofore. Yet, with all these advantages, the woollen business, for the past year, has been unsatisfactory. Perhaps no other combinations will occur which shall increase the importations of woollens to the extent of the past year, for the result was as disastrous to the importer as to the home manufacturer.

The importance of the cotton and woollen manufactures in this State is shown in the fact, that the annual cash value of manufactured articles in 1855 exceeded ten millions of dollars, and that there were over twelve thousand persons employed in these manufactures, as will be seen by the annexed summary from the census:

Number of establishments,..

Men employed.............

Women employed..

Boys employed,.

Girls employed,.

Total,..

Establishments with water-power,.

Establishments with steam power,.

Capital in real estate,.....

Capital in machinery,

Cash value of raw materials,

$1,785.350

2,465,401

2,492,531

Cash value of manufactures,

.....

$93,660 $1,039,949 $2,918,959

111,968 802,450 3,379.819 817,081 2,054,882 5,364,494 4,621,133 2,352,877 3,392,207 10,366,217

These are independent of eighteen carpet manufactories, which produced then over one million dollars in goods annually, and employed 1,891 persons.

REPORT ON THE BANKS OF THE CITY AND STATE OF NEW-YORK.

THERE were at the close of the year 1859 fifty-five banks in the city of. New-York, with a combined capital of $69,289,949; the population being estimated at about 800,000, or over eighty-six dollars of capital to each inhabitant. In the year 1850, when the population, according to the census, was 515,547, the bank capital was only $27,440,000. The progress of banking capital, circulation, loans, &c., in the State of NewYork, for ten years, is shown in the following summary :

The present fifty-five banks in operation in this city were established in the following years:

Of the influence of the city of New-York upon the banking movements of the whole country, the Superintendent of the Banking Department, in his report for 1859-60, says:

"That the concentration of capital in the business of banking in our State, and its careful or reckless use in that pursuit, steadies or deranges, in a measure, the business affairs of the country at large, is beyond dispute. The fact that New-York city is the great radiating centre of values, or rather the great depot from which and to which flow the great mass of the productions of the industry of the United States, would seem to place a responsibility upon the parties controlling the banking capital of that city, that should ensure a care and watchfulness in its use commensurate with the evils which would necessarily arise from an imprudent and reckless use of the power placed in their hands."