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not considered a good sign by political economists. The security offered by our gov ernment has undergone no change for the last thirty years, and as it gave £3 a year to receive £75 or £96, the interest of money in the market was comparatively high or low. To all borrowers a low rate of interest is advantageous ; to all lenders, the reverse ; and thus, as we are borrowers or lenders, we speak of a high price of the funds as advantageous or disadvantageous.

A high price of the funds being equivalent to a low rate of interest, whenever the funds have risen to par or above it, the interest of the national debt has been reduced, or an expectation has prevailed that it would be reduced. It is now talked of, but apparently without reason, as consols have declined, and their immense amount (about £380,000,000) will prevent the reduction of interest upon them, unless the interest of money remains permanently low, and consols rise and continue above par.

The first reduction of interest was made by Sir Robert Walpole in 1716, wher, being enabled to borrow at a low rate, he induced the national creditors to accept a lower rate than they had lent their money at. In 1794 a similar operation was carried into effect by Mr. Pelham, & brother of the then Duke of Newcastle. No similar reduction was possible from that period almost to our own times. In 1822 Mr. Vansittart reduced the interest on a 5 five per cent stock to 4 per cent; and in 1824, Mr. Robinson, the present Earl of Ripon, reduced the 4 per cent stock to 31. In 1830 Mr. Goulburn followed the same course, and reduced the new 4 per cents to 3}; and in 1844 he reduced the 31 to 37, to become 3 per cent stock in 1854. By the several reductions of interest, it is estimated (what Sir Robert Walpole saved is not stated) that Mr. Pelham saved per year...

£655,000 Mr. Vansittart

1,230,000 Mr. Robinson

375,000 Mr. Goulburn, in 1830..

778,000 625,000

« 1844.

Total....

£3,563,000 To which must be added the prospective saving to take place in 1854 of £625,000, and making a total annual reduetion of charge by a reduction in the rate of interest of £4,188,000. Notwithstanding that reduction, the annual charge was not less in 1850 than £27,902,572; and we cannot flatter our readers with the hope of any further reduction at present. Californian and Australian gold has had no effect in raising price, very little effect in lowering the rate of interest, which was lower in 1844 thao in 1852, and giving no reasonable prospect of, as some persons have said, facilitating the liquidation of the national debt.

ASSAY OFFICE AT ADELAIDE FOR AUSTRALIAN GOLD. The government of Great Britain has appointed an assay office at Adelaide, at which gold, of a not less quantity than twenty ounces, shall be received and weighed, and a receipt given for the weight; the same shall then be assayed, converted into ingots, stamped, and delivered at a bank, to be named in the receipt, to, or to the order of, the owner, for the weight deliverable ; two parts out of every hundred to be taken ; one for the expense of the assay, and the other to be deposited in the treasury in case of the correctness being disputed. It may afterwards be reassayed. In exchange for such assayed and stamped gold, the banks shall pay at the rate of £3 11s. per ounce in notes, which they may issue to the value of the gold bullion they shall so acquire. The banks are allowed to issue notes to three times the value of their coin : so that for every £100 of coin they may issue £300 of notes. These proportions are to be strictly adhered to, under a penalty of £100 for every failure. Accounts to be furnished to the treasury every week of the notes in circulation, and the coin and bullion held: The notes of banks to be a legal tender, so long as they pay on demand in coin or bullion, by all except the banks themselves. Ingots stamped at the assay office shall be a legal tender by the banks in payment of notes, bills, and checks, at the rate of £3 11s. per ounce. Forgery, &c., to be punished with imprisonment and hard labor, for a period not more than fifteen years, and not less than two years. The act to continue in force for twelve months.

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.

Seo. 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.

Sec. 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 pote 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:

Circulation, Deposits. Specie. Discounts. Bank State South Carolina... $1,575,027 $484,297 $92,233 $2,196,460 Branch Columbia

119,727 4,577 1,105,588 Branch Camden

27,547 2,493 430,685 S. W. Railroad..

438,954 221,247 86,613 409,989 Planters' and Mechanics'..

354,020 270,547 167,172 1,045,270 Union Charleston.......

218,355 173,372 106,463 700,187 Bank South Carolina....

360,162 263,506 144,468 860,956 State Bank, South Carolina... 459,285 291,598 114,326 936,187

Total

$3,406,293 $1,851,841

$721,345

$7,685,822

FINANCES OF THE ROMAN STATES. 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 population, 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 muse

ums, 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.....

.francs 3,300,000 The public debt amounts to..

21,000,000 The army costs..

10,000,000 Public works..

2,800,000 Public instruction.

500,000 The pensions amount to..

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 franca.

Such a'ithmetically 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 spootaneously. The party to whom it is entrusted must ase 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.

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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 TIE PORT OF CINCINNATI DURING

THE YEAR 1851-52, COMMENCING THE FIRST DAY OF SEPTEMBER, AND ENDING THE
LAST OF AUGUST.
To New To other down

Via canals &

By flat-
Commodities.
Orleans. river ports.

river ports.

railways. boats. Beef..

16,614
393 1,021 1,987

16 Beef.

7,789

29
941
264

10 Butter. ...bbls. 1,731

755

90

430 Butter .firkins & kegs 25,045 4,551

618 1,151 1,049 Corn..

...sacks 7,398 2,364 38,331 3,138 1,320 Cheese

60,119 79,178 4,746 6,646 4,073 Candles.......

53,164 33,188 17,615 17,760 717 Cotton

.bales

25

35 6,912 1,838 Coffee. sacks 13,749 9,081 20,810

22 Flour.

..bbls. 309,589 85,712 11,107 1,803 135,466 Iron

. pieces 4,673 87,306 9,226 71,204 Iron.

bdle.
738 21,598 2,464 11,568

66 Iron.

tons
62 2,079 1,642 7,546

270 Lard. ...bbls. 26,749

482
6,099 14,535

410 Lard.

..kegs 87,769 4,863 6,910 17,303 5,697 Lard oil.

bbls. 10,120 2,977 4,951 6,782 Linseed oil

3,181
2,089 1,391 2,716

11 Molasses.

4,294 25,154 19,418 Pork. hhds. 22,577 2,351 14,917 4,088

727 Pork

12,422
760 12,373 8,843

260 Pork

117,007 2,968 5,173 6,412 2,095 Pork

... lbs. 1,556,010 581,385 1,471,358 575,230 675,230 Soap. . bxs. 5,486 14,266 4,278 4,003

219 Sugar, .hhds.

2,005 8,144 10,205 Whisky ...bbls. 148,848 46,736

8,520 27,440

....tcs. ...bbls.

4R 736

...bbls.

Beef.....

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VALUE OF THE PRINCIPAL ARTICLES IMPORTED INTO THE PORT OF CINCINNATI DURING

THE YEAR ENDING AUGUST 31st, 1852.
Articles.

Total imports. Average value. Total value. Apples, green...

71,182 $1 60 $106,844 Beef..

1,609 9 00

14,481 ..tcs.

1,145 15 00 14,885 Bagging.

pcs.
71 2 00

142 Barley .bushels 49,994

45 40,447 Beans

14,137

1 60

21,219 Butter, ..barrels 10,203 25 00

265,075 Butter.

.firkins & kegs 13,720 13 00 178,360 Blooms.

..tons

4,036 50 00 201,800 Bran, &c

..sks. 131,014

50

65,507 Candles..

...boxes

653
2 00

1,632 Corn.. ..bushels 653,788

30 196,136 Corn meal.

8,640

40

3,456 .. barrels 874 3 00

2,622 Cheese.

...cks.
46 12 00

552 Cheese..

.boxes 251,763 2 40 604,141 Cotton.

...bales 12,776 60 00 638,800 Coffee.

sks. 95,732 17 00 1,627,444 Codfish.

..drums

431

25 00 10,775 Cooperage.

pcs. 136,118

60 81,070 Eggs..

bxs. & bbls. 10,544 4 00 42,166 Flour..

...bbls. $11,042 8 20 1,635,334 Feathers.

..sks.

6,716 12 00 80,592 Fish, sund.

...bbls. 20,076 9 50 190,722 Fish... kegs & kits. 1,075 2 00

2,150 Fruit, dried....

bushels 24,877 2 00 49,754 Grease..

....barrels

1,936

16 00 29,040 Glass...

....boxes 44,004 2 25 99,009 Glassware.

packages 36,602 4 40 18,265 Hemp...

.bdls. & bales 18,334 25 50 467,517 Hides, loose..

64,647 2 40 27,269 Hides, green. ...lbs. 54,905

1,557 Hay..

...bales 9,270 2 50 23,195 Herrings.

...boxes
5,149

50

2,574 Hogs.

..head 410,210 9 00 3,691,890 Hops..

.bales

1,591

60 00 95,460 Iron and steel.

· pcs. 194,107

1 45 291,160 Iron and steel.

.bdls. 54,078 3 75 202,729 Iron and steel.

...tons 10,111 24 00 242,664

· pigs 64,733 3 12 171,040 Lard.

.barrels 36,047

21 00 756,987 Lard..

.. ...kegs 32,283 4 26 137,201 Leather.

...bdls. 11,384 9 60 102,456 Lemons.

...boxes 4,434 5 00 22,170 Lime,

..barrels 64,817

80 51,853 Liquors. ..hhds. & pipes 3,162

90 00 284,580 Molasses.

barrels 93,132

13 00 1,117,584 Malt..

bushels 33,220

60

29,889 Nails.

... kegs 64,189 3 00 192,567 barrels

8,395 28 00 232,540 Oranges

.bxs. & bbls.

4,547

6 00 27,280 ...bales

1,843
12 00

22,116 Oats.....

bushels 197,868

25 00

49,467 Oil cake..

lbs. 247,400

}

1,237 Pork and bacon...

bhds. 10,838 45 00 465,214 Pork and bacon..

.tcs.

1,987 22 00 43,714 Pork and bacon..

.barrels 22,501 15 00 337,515 Pork and bacon.

16,682,884

6 991,973 Potatoes

25,923 Pig metal.

Lead....

.

Oil.....

Oakum.......

...bulk

....barrels

20,739

1 25

22,605 24 00 643,570

.. tons

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Total imports. Average value. Total value.

1,425 13 00 18,525 68,317

50 29,158 14,184 350 49,644 28,417 2 00 58,834 3,203 5 00 16,015 3,782 25 00 94,550 89,224 58 00 2,274,992 15,237 14 00 213,318

2,259 30 00 67,770 48,074 3 00 144,222 10,819 11 00 119,019 304 1 50

456 91,312

1 30

118,705 58,020 1 50 87,030

1,688 17 (0 28,596 12,810 25 00 320,250 11,469 46 00 527,160 1,996 4 00

9,984 23,060 20 00 461,200 5,930 15 00 88,950 4,482 35 00 156,870

8,322 10 00 83,220 377,037

60 226,422 4,562 60 00 228,100 272,788 6 75 1,773,122

10,836 1 50 16,254 167,002 1 75 622,507

...ska, .barrels ... kegs - packages

hhds.

bales bxs. & kegs

barrels bbls. & 1 casks bkts.& boxes

bushels ...bales ...barrels .packages

...bales

.

Beef....

Total value........

$24,715,331 [Note.- In the above, we have not included dry goods, hardware, queensware, and sundry miscellaneous articles which, wi 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 END

ING AUGUST 31st, 1862. Apples, green.. bble. 71,182 | Eggs.

bxs. & bbls. 10,544 1,609 Flour..

bbls. 511,042 Beef. ....tcs. 1,146 Feathers.

sks. 6,716 Bagging.

• pcs.
71 | Fish, sund.

bbls. 20,076 Barley..

89,994 Fish..

kegs & kits

1,075 Beans 14,137 | Fruit, dried.

24,847 Butter. .bbls. 10,203 Grease.

bbls. 1,936 Butter, .firk. & kegs. 13,720 Glass

.bxs. 44,004 Blooms . tons 4,036 Glassware.

.pkgs. 36,602 Bran, &c.

..sks. 131,014 Hemp.. .bdls. & bales 18,334 Candles. bxs. 653 Hides..

.loose 54,647 Corn. bush. 653,788 Hides, green.

lbs.

54,905 Corn meal..

8,640 Hay.

.bales 9,270 bbls. 874 Herring.

...bxs. 5,194 ...cks. 46 Hogs..

.head 160,684 Cheese, .. bxs. 241,763 Hops..

..bales 1,591 Cotton. bales 12,776 Iron & steel..

194,107 Coffee, ...sks, 95,732 Iron & steel.

..bdls. 64,078 Codfish,

.drums
431 Iron & steel.

...tons 10,111 Cooperage .. pcs. 135,118 Lead...

...pigs 54,778

.bush.

Cider.....
Cheese. ....

..pcs.

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