in June, when it was shipped freight free. The total exports since 1st September are 256,939 pigs, against 320,608 pigs last year.

HEMP.-There has been a further reduction in the supply of this article, the receipts since 1st September being 17,149 bales, against 25,116 bales last year, As in the case of lead, nearly all that is received is sent forward, only occasional parcels being offered for sale in this market, and those generally of an inferior quality. Under these circumstances very few sales have taken place here during the past season, and those mostly of limited parcels, at an extreme range of $85 a $95 per ton for dew-rotted. The exports since 1st September are 15,728 bales, all to Northern ports.

COFFEE. This article has rapidly risen in importance in our market, and may now be said to take the lead among our foreign imports. The first direct cargo from Rio was in 1835, and up to 1840 the imports only amounted to 44,000 bags, while in the same year we received from Cuba, etc., 91,000 bags. The following table, which shows the direct imports from Rio de Janeiro, in each year for ten years, will exhibit the rapid increase in this branch of our foreign trade, and will also establish the interesting fact that this is now the largest market in the world (out of Brazil) for Rio coffee:

The market during the past season has been characterized by more steadiness than we have had occasion to notice for some years previous, but the increased supply has reduced the average of prices, which have fluctuated between 7 cents in December and January, and 9 cents in April, as the highest and lowest points. The following table, which we take from the annual circular of Mr. H. T. Lonsdale, coffee broker, shows the monthly sales and average prices for the year ended July 1st, 1852. By this it will be seen that the average price of the season, for Rio Coffee, has been 8 60-100 cents per lb., while the year previous it was 10 18-100 cents:

The above sales include the transactions from importers' and speculators' hands, and exceed the quantity taken for consumption by about 30,000 bags. The following table shows the imports, stock, etc.:-

Estimated stock out of grocers' hands on 1st Sept., 1851, of all kinds...bags
Imports direct from Rio de Janeiro

Cuba, Laguira, &c..

Received coastwise for sale, (estimated)

Making a supply of..

Total supply last year..

Increase

4,000

353,616

12,525

366,141

55,000

425,141

353,757

71,884

In the direct imports from Rio de Janeiro there is an increase, as compared with last year, of 78,926 bags. There is also an increase of 2,158 bags in the imports from Cuba, etc., and of 1,800 in the receipts coastwise for sale. The present stock of all kinds, out of grocers' hands, is estimated at 35,000 bags, which would leave 390,141 bags as the quantity taken for the consumption of the West and South, against 349,757 bags last year; or an increase of 40,384 bags. The quantity of Rio coffee taken for consumption in the whole United States, during the past year, is estimated at 845,000 bags, of which nearly onehalf was furnished through this market, where the aggregate of sales for the year has been over six millions of dollars. In a statement published in the Baltimore American, said to be from reliable authority, the total produce of all countries, for 1852, is put down at 548,000,000 pounds, while the consumption of Europe and the United States, at the present ratio, is estimated at 610,000,000 lbs., which would be equal to 4,000,000 bags, Brazil. The stock on the 1st of July was estimated at 125,000,000 lbs. for Europe, and 25,000,000 lbs. for the United States.

Our advices from Rio are to the 3d of July. The circulars of 30th June (the close of the crop year) state the total exports to be 1,881,559 bags, against 1,869,967 bags the year previous. Of this quantity, our own country has taken 952,498 bags, distributed as follows:

The few samples of new crop which had been received proved of very fine quality, and the opinion is expressed that the crop will be fully an average one in quantity.

EXCHANGE. The exchange market has maintained a good degree of steadiness during the past season, as will be seen by reference to the annexed table, which exhibits the highest and lowest quotations in each month, for sterling, and for bills at sixty days sight on New York. These figures are intended to represent the prevailing range of the market, though there have probably been, at most periods, some transactions at rates both above and below them:

FREIGHT.-The freight market has presented considerable fluctuations during the past season, though it has generally been characterized by rather more steadiness than we have had occasion to notice for several years past, the extreme range for cotton to Liverpool being d. to §d. per lb. The following table, which shows the highest and lowest rates in each month, for cotton to Liverpool, will sufficiently indicate the course of the market:

The total number of arrivals from sea since 1st September, 1851, is 2,351,

namely:

The entries at the Custom-house for the year ended 30th June, 1851, were as follows:

Whole number of vessels...
Tonnage.....

2,266 910,855

The increase, compared with last year, is 212 vessels and 142,827 tons. Included in the arrivals are 412 foreign vessels, from foreign ports, with a total measurement of 185,386 tons. This is an increase on last year of 80 vessels and 48,388 tons.

Art. IV.-A PRACTICAL TREATISE ON BUSINESS.*

MONEY GETTING.

MONEY-to get money-let us frankly admit at the outset, is the aim, the paramount end of business, of retail and wholesale, of business on a large scale, of business on a small scale, of the peddler, of the merchant-prince, of him who trades under the open sky, at the corner of the street, of him who sends ships to the ends of the earth, whose calculations take in the fortunes of nations, and whose operations may determine peace and war, the happiness or misery of millions. MONEY! with what an intonation of contempt the word is sometimes uttered. The "accursed hunger for gold" is the standard subject of classical and philosophical anathema. Yet with what a secret charm the word falls on the mental ear! The theory of getting money is the theory of business, and is the topic of the interesting book whose title we give below.

Mr. Freedley's book is written with much liveliness of style, is full of anecdotes and illustrations, and abounds in practical suggestions, based upon

• A Practical Treatise on Business; or, How to Get, Save, Spend, Give, Lend, and Bequeath Money, with an Inquiry into the Chances of Success and Causes of Failure in Business. By EDWIN T. FREEDLEY. Philadelphia: Lippincott, Grambo & Co.

the present business prospects and relations of the country. It may be read with profit not only by those who are entering upon business life, but by those also who would compare their own experience with that of others, and whose minds are open to new suggestions. We must needs like the book, yet find it difficult to quote from it-and for one and the same reason. Not only have the ideas been again and again inculcated in our pages, but Mr. Freedley has had the good taste to avail himself of our labors by liberal extracts. The merit of the work is, that it presents, in a compendious and convenient shape, the opinions of many experienced business men, and many hints and suggestions, either original or derived from reliable sources, relative to business management, the choice of business, habits of business, "getting money by farming," "getting money by merchandising," "how to get customers,' ""the true man of business," "how to get rich by speculation, banking, patent inventions," "how to become millionares," and "the chances of success." So much has been said in our pages on all these topics, that by quoting we run the risk of repetition.

Getting money (we repeat the confession) is the chief end of business. But what is money? Money is bread. Money is raiment. Money is shelter. Money is education, refinement, books, pictures, music. Money is the society of the learned and accomplished. Is it less true, than in Solomon's time, that "wealth maketh many friends; but the poor is separated from his neighbor?" Money is science, invention, discovery, enterprise. Money is the canal, the railroad, the telegraph, the steamship. In short, in modern society, under modern governments of law, the essence of which seems to consist in rigidly maintaining the distinction of meum and tuum, money takes the place of that arbitrary rule of the king, the baron, the aristocrat, which in old times commanded by power, what is now only to be obtained by wealth. "Commerce is king," it is said; say rather money, which is the end of Commerce. And here lies the danger. The danger is that a new power, more cruel, more heartless, than kingly or feudal power, shall, in the form of capital and monopoly, rise to crush the mass of men. For money is hardening to the heart. Money is selfish. Money is rivalry, competition, deceit. Money sends "the weak to the wall," and says, "Every man for himself." That mixture of good and evil, which we find everywhere in the world, has its acme and highest point in that greatest of merely earthly good, that "root of all earthly evil"-money. Not to be "taken from the world, but to be delivered from the evil that is in the world," must be the motto and the prayer of every true merchant. Let him feel that while he is laboring for the increase and distribution of wealth, he is working for the elevation and civilization of the masses. Let him feel that in pursuing trade for the purpose of acquiring wealth, the first object, the main object, he is never "delivered from temptation."

Franklin was the first, we think, to bring together in a somewhat formal way the maxims of business, and thus do something to establish a theory of business life. By his essays, his biography, and the collection of sayings in "Poor Richard," he did more than any man before him, more than any man since, perhaps, to shape the business mind of America, to say nothing of the influence of his works in Europe. Some carp at the mercenary spirit, the low aims, which they are pleased to discover in Franklin's economical teachings. But to require of a writer, who is to teach us how to better our material condition, exalted views of our moral or intellectual nature or aims in life, is simply to wander from the question. There are, doubtless, things

infinitely higher in life than money or physical well-being, but bread is prior, if other things are higher. To live is the previous question, which has to be settled before men can determine how they shall live, morally or sensually, wisely or foolishly.

The idea of Mr. Freedley's book appears to be to exhibit, in a formal treatise, the theory of business, developing thus Franklin's idea, and adapting it to the present state of business, and present physical, commercial, and industrial development of the country. We are not aware that this has ever been attempted before. And his execution of the plan is, in many respects, highly satisfactory. We say, theory of business. Why should it not have its theory as well as law or medicine? Every practice has its theory. There is a good way, there is a bad way of doing everything. The good way is the true, the bad way is the false theory of that thing, whatever it is, whether "playing on the stops" of a pipe or of the world, practicing a profession or "doing business." There are rules and maxims of mercantile life, the observance of which is, as a general thing, as necessary to success as that of the rules of geometry to the engineer, or of the rules of war to the soldier. It is true some business men are less systematically and consciously governed by formal rules than others, but, we repeat, no man can act, without acting upon some rule, good or bad, the suggestion of the moment, or the result of previous thought.

This practical treatise contains a chapter of opinions of rich men as to the how, the mode of getting rich. "John Jacob Astor," says the author, "I am informed by his son, W. B. Astor, is not known to have had any fundamental rule or favorite maxim" of business life. Yet there can be no doubt that in this instance of colossal fortune, Mr. Astor's positive genius for moneymaking was aided by a sort of instinctive observance of the rules and habits suggested by the best mercantile experience.

The readers of the Merchants' Magazine will bear us witness that we have at all times endeavored to inculcate sound rules, a true theory of business. It has been a standing topic in these pages, which would but poorly exhibit the literature of Commerce if it neglected the theory of business. Our mercantile biography has furnished excellent illustrations of the best rules for the conduct of business life. Many of the maxims of most direct and practical bearing, are stated with much force, and illustrated by example in the biography of John Grigg, the eminent bookseller of Philadelphia, which we gave in the number for July, 1851. That sketch has been so widely copied, and so often quoted, that we are encouraged to hope that the rules and maxims it contains, drawn from and illustrated by the rich and varied experience of that excellent man, will be of use to the young merchants of America. All men may not possess his business genius, but the business virtues of industry, punctuality, and honor, are within the reach of all. If the man of highest business capacity cannot dispense with these, how can others do without them?

The chapter of opinions, to which we have referred, contains rules for acquiring wealth, or, as Mr. Freedley expresses it, "how to become millionaires," attributed to Rothschild, David Ricardo, Girard, and others :

*The idea, in short, is that of Bacon, respecting the true mode of philosopical inquiry, enlarged and applied to all the pursuits of life-“ Nihil veniat in practicam cujus non fit etiam doctrina aliqua et theoria,"