THE SMALL NOTE LAW OF MARYLAND. The following is the law passed at the last session of the Maryland Legislatu re "to prevent the circulation of notes or bills of a less denomination than five dollars." SECTION 1. Be it enacted by the General Assembly of Maryland, That on and after the first day of October, eighteen hundred and fifty-two, it shall not be lawful for any person, firm, or association of persons, corporation or body politic, to pay out, circulate or receive in payment of any debt, any bank note, promissory note, or other obligation, payable to bearer, or indorsed in blank or to bearer, or any other note, token, scrip, or device whatsoever, devised or intended for circulation as currency, issued out of the limits of this State, of a less denomination than five dollars, under the penalty of five dollars for each and every offence, to be recovered by an action of debt in the name of the State, before any justice of the State. SEC. 2. And be it enacted, That one-half of the penalty recovered in any case under the act shall go to the informer, and the residue shall be paid to the collector of county or city taxes for the use of the county or city where the same may be prosecuted for; and in all cases the informer shall be a competent witness. SEO. 3. And be it enacted, That in case any person against whom any judgment may be rendered for the penalty provided by this act, shall not immediately pay the same and costs of the prosecution, or give security satisfactory to the justice rendering the judgment, for the payment, he shall be committed to prison, there to remain until the same shall be paid, or until the expiration of ten days from the date of the commitment, whichever shall first occur. SEC. 4. And be it enacted, That from and after the first day of March, eighteen hundred and fifty-three, it shall not be lawful for any bank, savings institution, corporation, or body politic, of this State, or for any person or association of persons, to make, issue or pay out any note or device, of the nature and character described in the preceding section of this act, of a less denomination than five dollars, under the penalty prescribed in the said section for each offence, and to be recovered in the same manner. CONDITION OF THE BANKS OF SOUTH CAROLINA. The circulation, deposits, specie, and discounts of the Banks of South Carolina, according to the official statement of August 31, 1852, have been as follows: In the Budget for the current year the income is stated at 60,000,000 francs, the expenditure at 69,300,000 francs. The income, divided by the number of the popu lation, gives an average of 19 francs 65 centimes of taxes per head. The Pope's civil list, the keeping in repair of his palaces, of the museums, the expenses of the noble guard, the Swiss troops, the salaries of the Sacred College, of the Nuncios, and the Roman diplomatic body, cost annually..... The public debt amounts to.. The army costs.. Public works... Public instruction... The pensions amount to. .francs 3,300,000 21,000,000 10,000,000 2,800,000 500,000 5,000,000 ARITHMETICAL ACCUMULATION OF MONEY. KELLOGG, in his "Labor and other Capital," forcibly illustrates the accumulation of capital from various rates of interest. A late French writer says, that a sum of money, invested at 5 per cent, compound interest, is doubled in fourteen years and some months, quadrupled in less than thirty years, octupled in less than forty-five years, and 80 on. From this it would appear that if a centime had been placed out at such interest, pro bono publico, in the year 800, when Charlemagne was crowned Emperor of the West, the 30,000,000 Frenchmen inhabiting the country at the revolution in 1830, would have enjoyed an income of 100,000,000,000 francs. Such arithmetically true and economically impossible results of old deposits, are made the groundwork of some work of fiction; but writers of another class are obliged to attend to the obvious fact, that in order to effect such an accumulation of capital the business of the bankers and the wealth of the community would require the increase in the same proportion. Money does not breed spontaneously. The party to whom it is entrusted must use his money in such a way as to enable him not only to pay the interest, but to derive a profit from the transaction. COMMERCIAL STATISTICS. STATISTICS OF THE TRADE AND COMMERCE OF CINCINNATI. In another part of the present number of the "Merchants' Magazine and Commercial Review" will be found a review of the Trade and Commerce 'of Cincinnati for the year ending August 31st, 1852. We give below tabular statements of the imports and exports, destination of specified articles, value of principal products, and prices of the same for the year ending August 31st, 1852. For similar statistics, for previous years, the reader is referred to the Merchants' Magazine for October, 1851, (vol. xxv., pp. 485-489,) and the volumes of this Magazine from its commencement in 1839: DESTINATION OF SPECIFIED ARTICLES EXPORTED FROM THE PORT OF CINCINNATI DURING THE YEAR 1851-52, COMMENCING THE FIRST DAY OF SEPTEMBER, AND ENDING THE VALUE OF THE PRINCIPAL ARTICLES IMPORTED INTO THE PORT OF CINCINNATI DURING THE YEAR ENDING AUGUST 31ST, 1852. [NOTE.-In the above, we have not included dry goods, hardware, queensware, and sundry miscellaneous articles which, with those mentioned, come under the head of merchandise. It would be utterly impossible to make an estimate of these articles, coal and lumber are also omitted-no correct statement of the amount imported being obtainable. In the above calculation we have given as nearly as possible the correct average value, and we believe the aggregate is below rather than above the actual amount. The value of the total imports at this port is not less than forty millions.EDITOR.] IMPORTS INTO CINCINNATI FOR THE YEAR COMMENCING SEPTEMBER 1ST, 1851, AND ENDING AUGUST 31st, 1852. |