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on hand," indicates more nearly the real and cheap means of communication, is a vacillations of the currency, as administer. most effectual mode of distributing wealth, ed by the bank. These have fluctuated and consequently, of revivifying all branfrom near ten to tive millions, and from two ches of industry, and stimulating trade. causes, viz. : the amount of bullion and the The fall of breadstuffs, which have been public deposites on hand. These latter so high throughout Europe, must lead to appear to form an important feature in the the absorption of the stocks of goods acbank movement. The public revenues cumulated through the diminished conare constantly coming in, and accumulate sumption superinduced by the rise, and a in the bank until the quarterly dividends renewed demand for raw materials again are due, when bank notes are paid out to stimulate foreign trade. return in the collection of the public dues. The change in the tariff of the United The greatest amount of public deposites States must ultimately produce an extendwas at the close of December, 1845, when ed intercourse between this country and they were near ten millions, and were Europe. We do not anticipate, bowever, diminished by five millions at the close of from the tariff, as passed, any immediate January. The bank notes on hand were important results. It is not, in its general diminished in the same time, by the ope- features, by any means of a liberal characration of paying out the deposites for divi. ter. It is only a little less prohibitive than dends on the national debt, about two before. The principal reductions which it millions, by which sum the outstanding effects, are in the articles of iron, Pongee circulation apparently increased. That silks, cottons, and woollens. The amount appears to have been entirely a govern- of cotton cloths imported last year, plain ment operation; yet in the same time the and dyed, was over 10 millions of dollars, private deposites more than doubled ; and and these paid an average daty of 46 per the discount of private securities increased cent. The same goods will now pay 25 near five millions. That is to say, without per cent., which is an enormous charge. any apparent change in the volume of the Great Britain never charged 10 per cent. currency, as administered by the bank, on the same goods. It is, however, the nine millions of rail-road deposites were that a great variety of desirable cotmade in the bank, in the month of Janu ton goods, for general consumption, which ary; and the bank discounted five mil are not made in this country at all, have lions of securities to facilitate the opera- been entirely excluded heretofore, and can tion. Those private deposites, in the par- now he imported at the 25 per cent. duty. tial settlement which has taken place, of It is a work of time, however, to introduce the rail-road schemes, have been diminish. them into general consumption. The taed three millions of pounds; and of the riff will come into operation at a time unsecurities discounted, five millions have favorable to a large consumption of goods, been withdrawn by payment, or other whether of domestic or foreign growth, wise. The number of bills now before inasmuch as that the low prices of produce Parliament, has given rise to renewed un of all descriptions is likely to command, easiness in relation to the effect that the for the next crops, will cripple the means rail-way demand may have upon the mo of the great mass of the consumers, to ney-market. On the continent, particu- buy goods. Notwithstanding the small larly in Paris, considerable uneasiness is crop of cotton for the present year, and prevalent on the same subject. The min. the prospect thus far, that that about comister declared to the Chainbers, that the ing to market will be no larger, the strincalls of the rail-ways would amount to gency of the English money market, from 140,000,000 francs, or $26,250,000 per an causes above hinted at, is likely to keep nam, for seven years—a monthly instal- prices low for the present. The large proment of 10,000,000 francs, or $1,875,000, is duction of agricultural products of all fixed for Angust. The rail-roads in opera- kinds, stimulated by the good prices genetion produced, last year, 25 millions francs, rally obtained by the producers, for the and in consequence of the new lines open- last crops, may have a similar effect in the ed, will, this year, produce 50 millions. face of the large stocks existing, to ruin Whatever effect upon the money markets the sales of the crops about to be harvestof Europe, directly, may be produced by ed. Under such circumstances the conthis demand for capital, it must eventuate sumption of manufactured goods, even at in a greatly extended business throughout low prices, cannot be very large ; and Europe, by developing and making avail- consequently the effect of the modification able resources, and promoting the con of the tariff will be measurably countersumption of the products of industry. The acted by the results of past prohibitions. collection of capital, that formerly was in. This is a state of affairs, however, that vested almost exclusively in government requires great caution on the part of those loans, and appropriated to government institutions which sometimes offer an unpurposes, and dispersing it throughout the due stimulus to mercantile enterprise. land in paying for the construction of rapid The great reductions that are to take place

after November, on two or three leading rope. The old time-honored notions of articles of import from Great Britain, mutual commercial injuries inflicted upon would naturally prevent their importation, each, by rival states, in the hopes of until that modification should take place; themselves benefiting by the ruin of and consequently the exchanges, now usu their customers, are fast dying out, and ally low at this season of the year, say 61 the march of free trade would, doubtless, a 7 per cent., may become so far atlected be more rapid, but for the apprehensions as to allow of a renewed import of specie. that are entertained of the events that may The 6th section of the law, however, al succeed the demise of the Prince Metterlows all goods imported prior to Decem- nich and the king of the French. The ber 2d, to remain in warehouse until that former is the head of the statu quo policy time, and ihen pay the low duty; a prie for the south of Europe, in an age of rapid vilege that may distribute the importation universal advancement; the representaover the fall months, and equalize the de- tive of those old divine rights of rulers, mand foo exchange.

now undergoing a mortal struggle with The tendency, both in Europe and the public opinion. The latter is the miseraUnited States, is to extend intercourse by ble occupant of a precarious throne, totterremoving restrictions upon trade. Eng. ing over the rising energies of Republican land, the great centre of the commercial France on one haud, and the object of susworld, has given the most eminent exam. picion to the allied despots, who, with difple; and even the autocrat of Rassia, as ficulty, were persuaded in 1830 to allow well as the lesser states of Europe, are giving him to reign, on condition that he should indications of a relaxation of their external betray the liberties of France. The small commercial policy, while the products of states of Europe, by laying aside mutual industry, and means of internal transpor- jealousies, have consolidated their materiał tation, are rapidly extending themselves interests. The people are brought nearer throughout the interior of all ihe states of to each, and in their increasing strength des. Europe. The death of the Pontiff of Rome potism finds its most formidable enemy: has given rise to hopes of a more liberal The throwing down of the commercial commercial policy in the states of the barriers between England and the United church ; an event likely to give effect to States, and the removal of canses of com. the designs of Austria, in placing herself plaint between the two countries, are wiseat the head of a great Customs Union for ly preparatory steps, on the part of Engthe south of Europe, to off-set the great in- land, in view of the aspect of political afcrease of influence acquired by Prussia in fairs in Europe. a similar movement in ihe north of Eu

NOTICES OF NEW BOOKS.

The Poems of Henry Wadsworth Long- and well calculated to inspire us with new fellow. 1 vol. Harper & Brothers, faith, hope, and energy, in our moments of New York.

despondency. The “Footsteps of Angels” We have perused several of the poems is natural and pleasing. It represents the contained in this volume, which may passing, in our sweeter moments of reflecbe regarded as the fairest specimens of the tion, and amidst the titful shadows of the author's peculiar taste and abilities, and we night, of the loved forms of the departed, trust that a reference to these will be suffi- and its effect upon the mind. The next cient to justify the opinion we have formed and only original poem we can notice in upon a subject requiring some leniency the brief space allowed us, is the “Beand a just and happy discrimination. leaguered City,” which is a beautiful

In one great requisite of the true poet, illustration of the attacks of those phantoms Mr. Longfellow is somewhat deficient-we of the imagination, from which no fancy is mean originality ; but this objection does at all times safe, but to which the morbid not by any means apply to all his poems; and the melancholy are particularly subsome few of them are exceedingly novel ject. This volume will be read with and attractive, and bear an under current pleasure. The original poetry, though not of deep feeling and piety, which cannot striking, is nowhere below mediocrity, and fail to contribute greatly to their popularity. occasionally rises far above it. This how. “ The Psalm of Life, which expresses ever forms but a small portion of the work. the views of a practical mind in answer to There is a tragedy (also by Mr. Longthe worn-out axiom, that "life is but an fellow) and a great number of miscellaempty dream,” is a spirit-stirring effusion, neous poems, translated with much taste

and fidelity by that gentleman from the tributes he pays to the different poets of German, Danish, Anglo-Saxon, and French. whom he treats, are so appropriate, and in The versification is betimes rugged and some instances so glowing and impassiondisagreeable, but the poems are interesting, ed, that we cannot but feel that he has as giving some knowledge of the poetical drank deep of the fount of their inspiration. genius of the respective countries to which Goldsmith, Gray, Collins, Pope, Altieri, they properly belong.

Crabbe, Byron, Moore, Burns, Thompson,

and sixteen other poets are treated of in Memory and Intellectual Improvement.

this volume. We feel assured that all who 3 vols. By 0. S. FOWLER, New-York. read these reflections will rise from their The last volume of a new and improved perusal with an improved taste and wider edition of this work has been laid on our sphere of knowledge. table. The application of phrenology to self-education and improvement has occur

Kühner's Elementary Greek Grammar. red to almost every intelligent mind as be

This work is ably translated by Samuel ing not only practicable, but likely to be at

H. Taylor, of Andover, Mass., from the Gertended with the happiest and most satis

man of Raphael Kühner, an experienced factory results; but it was reserved for and learned teacher, who for more than 20 Mr. Fowler, in this country at least, to

years was professor of Greek, at the carry out this idea to its fullest extent, and Lyceum, Hanover. successfully to urge its importance by

Independent of all consideration as to the sound and wholesome deductions of the great advantages undoubtedly possessloug experience. The present volume ed by the author in acquiring a profound contains portraits of several distinguished knowledge of the langnage ; and judgivg men, which serve to illustrate in the most by the intrinsic merits of this book, we striking manner the crauiological state

should say that it is one of the best and ments of the author. We are much pleased

most comprehensive grammars that have to find that Mr. Fowler has not overlooked yet appeared, and we have po hesitation the close connection and reciprocal in

in recommending it for the use of students, fluence of the mind and body, and the schools, and colleges. great advantage accruing to the former by the increase of physical energy. The very

Shores of the Mediterranean, with sketches jutensity of study, when it interferes with

of travels. By FRANCIS SCHROEDER. In

two volumes. Harper & Brothers. the necessary conditions for the preservation The shores of the Mediterranean are everyof health, impairs the strongest powers of where fraught with interest to all classes of the mind, a fact to which it is of the utmost readers. Every spot on the borders of that sea importance that the attention of parents, which was once the centre of the Roman world students, and schoolmasters should be in its grandeur, furnishes matter of intense in. directed.

every

bosom there is a longing to

visit scenes associated historically with our Thoughts on the Poels. By Henry F.

earliest years ;

and next to an actual visit, the TUCKERMAN. C. S. Francis & Co., New lively ard graphic narrative of our intelligent

and enthusiastic countryman supplies the York.

Mr. Schroeder, as secretary to the This volume is one of the best illustra- Commodore of the United States squadron in tions we have seen of the truth of the those seas, in the year 1843, had rare and assertion that but few subjects are entirely admirable opportunities of visiting the most exbausted.

attractive places, and he has improved bis Thoughts on the Poets and their Poetrying his enjoyment to his readers through his

opportunities to the best advantage in impartare more uumerous than stars in the firma- most lively and instructive pages, embellished ment, and have engaged the pens of the with several handsome engravings, from most profound and elegant writers in the drawings by the author. langriage; but the reflections of a highly cultivated mind, which fears not to express The Bible, the Koran and the Talmud ; or its honest convictions, are always tinged

Biblical Legends of the Mussulmans; com with some novel and attractive hues, which

piled from Arabic sources, and compared will give it at least strong claims to origin

with Jewish traditions. By Dr. G. WEIL.

Harper & Brothers. ality. There are some passages, however, in these interesting essays, which will original Arabic records the leading ideas of

In this work, Dr. Weil has extracted froni give Mr. Tuckerman po unenviable po- the Mohammedan legends, which seemingly sition amongst American authors. The sen embodied the germ of that faith, subsequenily timents he has so beautifully expressed on developed in the Koran. The work is of high the subject of pure, exalted, and disinter. interest when we consider that, at an estimate, ested love, which arise so naturally from one hundred and twenty human beings bave the contemplation of Petrarch's enduring staked their immortal welfare on the truth passion for Laura, would do honor to the forms a valuable epitome of Mohammedan

of the doctrines they contain. The book most refined sensibility, whilst the various theology and morals.

terest.

In

want.

The Statesman's Manual. The Addresses yield.” These wonderful results have, doubt.

and Messages of the Presidents of the Uni- less, mainly to be attributed to the virtue, ted States, from 1787 to 1846, inclusive; energy and freedom of the people; but the with a Memoir of each of the Presidents, successful working of our institutions under and a History of their Administrations; eleven chief magistrates, from Washington to also, the Constitution of the United States, Polk, has been the necessary attendant upon and a Selection of Important Documents those elements. The whole development of and Statistical Information, compiled from this "experiment," under the action of the official sources. By Edwin Williams. executives; the successive steps by which 2 vols. 8 vo. Edward Walker, 114 Fulton every important event in our progress has street, New-York.

been met and overcome; the annual growth The 30th of April last completed 57 years

of our importation abroad ; the purchase and since the inaugural of George Washington as

annexation of empires at home; the applicathe first President of these United States. A tion of our elastic institutions to a people and population of some 3,500,000 souls then occu territory doubling every few years, the pied 13 states on the Atlantic coast, covering changing interests of the masses, and the an area of some 473,000 square miles. These working of internal politics, are all spread out states were heavily in debt-scarcely visible in one splendid coup d'wil in the two volumes above the horizon of national existence, and before us under the above title. The messages commanded no other attention in the Eu- and addresses of the presidents, following ropean world than as successfully revolted

each other in chronological order, keep the colonists, about to commence a very doubtful reader informed of every important event as experiment in self-government. Many of the it occurred, accompanied by an impartial small states of Europe had never heard of their

statement of the leading events of each adexistence, and the larger powers seemed to

ministration. A complete index at the close of consider them as but a future prey when cir. the 2d volume adds great value to the whole, as cumstances afforded them time to take

posses.

a work of prompt reference; a chronological sion; perhaps much in the same light that table of events, with tables of commerce, Constantinople is now regarded by the eager- population and revenue, are also added. The ly watchful eyes of surrounding despots. whole forms a most complete library in itself, Since then the face of the world has become

of all that concerns the politics of the country. changed. The population of these United No individual should be without these two States has swelled io 20,000,000. They have volumes at hand for prompt reference. How added 814.810 square miles to their repre. many hours of idle discussions and senseless sented territory. They have risen to the

debates might be spared to heated partizans, first rank as a commercial nation, and have were these books at hand for appeal. We successfully disputed with England the do shall have frequent occasion to refer to them. minion of the seas. They have become an object of dread to the despots of Europe, and

Pictorial History of England. Harper & of admiration and hope to the people of the

Brothers. world. Their flag is respected in all quarters No. 5 of this estimable republication, 10 of the world, and their friendship courted by which we have previously called attention, all nations. They have successfully pushed brings the history down to Henry I. (Beauclerc) their claims to the Pacific Ocean, and in doing in 1100. The detail of the manners and so have been declared in Europe as the first customs, and profusion of illustrations, keeps nation “that obtained from the fears of En up the interest of the narrative in an extraorgland what her sense of justice would not dinary degree.

POLITICAL STATISTICS.

OREGON TREATY.

June 17, 1846—Read a second time, and

ordered to be printed in confidence for The following is a copy of the Treaty the use of the Senate. for the division of the Oregon Territory The United States of America and her between the United States and Great Bri. Majesty the Queen of the United Kingdom tain. It will be observed, that the navi- of Great Britain and Ireland, deeming it to gation of the Columbia River is free to the be desirable for the future welfare of both Hudson's Bay Company and all British sub- countries, that the state of doubt and unjects trading with them. That is a matter certainty which has hitherto prevailed of small importance in a practical point of

respecting the sovereignty and governview:

ment of the territory on the north-west Convention between the United States of

coast of America, lying westward of the America and her Majesty the Queen of the Rocky or Stony Mountains, should be United Kingdom of Great Britain and finally terminated by an amicable comproIreland, concluded åt Washington the 15th mise of the rights mutually asserted by the

two parties over said territory, have reof June, 1846.

spectfully named Plenipotentiaries to treat June 16, 1846—Read a first time. and agree concerning the terms of such

TARIFF BILL.

settlement; that is to say, the President of Art. 4. The farms, lands, and other propthe United States of America has, on his erty of every description, belonging to the part, furnished with full powers James Puget's Sound Agricultural Company, on Buchanan, Secretary of State of the United the north side of the Columbia river, shall States, and Her Majesty the Queen of the be confirmed to the said company. In United Kingdom of Great Britain and Ire- case, however, the situation of those farms land, has on her part appointed the Right and lands should be considered by the Honorable Richard Pakenham, a member United States to be of public and political ofher Majesty's most honorable Privy Coun- importance, and the United States governcil, and of her Majesty's Envoy Extraordina- ment should signify a desire to obtain posry and Minister Plenipotentiary to the United session of the whole or of any part thereof, States, who, after having communicated the property so required shall be tran-ferred with each other their respective full pow. to said government at a proper valuation, ers, formed in good and due form, have to be agreed upon between ihe parties. agreed upon and concluded the following ART. 5.The present Treaty shall be ratarticles :

ified by the President of the United States

by and with the advice and consent of the Art. 1. From the point on the 49th paro Senate thereof, and by her Britavnic Maallel of north latitude where the boundary jesty ; and the ratifications shall be exlaid down in existing treaties and conven- changed at London at the expiration of tions between Great Britain and the United six months from the date hereof, or sooner States terminates, the line of boundary be- if possible. tween the territories of her Britannic Ma În witness whereof, the respective Pleni. jesty and those of the United States shall potentiaries have signed the same, and be continued westward along the 49th have affixed thereto the seals of their arms. parallel of north latitude tu the middle of Done at Washington, the fifteenth day of the channel which separates the continent June, in the year of our Lord one thousand from Vancouver's Island, and thence south- eight hundred and forty-six. erly through the middle of the said chan

JAMES BUCHANAN. nel and of Fuca's Straits to the Pacific

RICHARD PAKENHAN. Ocean; provided, however, that the navi. gation of the said channel and straits south of the 49th parallel of north latitude re The Tariff Bill underwent, in the House, mains free and open to both parties.

a long and arduous struggle, chiefly on the Art. 2. From the point at which the salt duties, and on the articles of tea and 49th parallel of north latitude shall be coffee. The bill as passed is highly acfound to intersect the great northern branch ceptable, inasmuch as that it excludes proof the Columbia river, the navigation of tection as an element of the taxing power. the said branch shall be free and open to All minimums and specific duties are abol. the Hudson's Bay Company, and to all ished, and the ad valorem principle applied British subjects trading with the same, to throughout. On the 28th July the bill the point where the said branch meets the passed the Senate, 28 to 27, including the main stream of the Columbia, and thence

vote of Mr. Jarnigan and the casting vote down the said main stream to the ocean, of the President of the Senate, striking out with free access into and through the the 9th section, which is urimportant.said river or rivers; it being understood The bill is as follows: that all the usual portages along the line thus described, shall in like manger be free A BILL reducing the duty on Imports, and open. In navigating the said river or

and for other purposes. rivers, British subjects, with their goods Be it enacted by the Senate and House and produce, shall be treated on the same of Representatives of the United States of footing as citizens of the United States; it Americe in Congress assembled, That being, however, always understood, that from and after the tirst day of December nothing in this article shall be construed as next, in lieu of the duties heretofore impreventing, or intended to prevent, the posed by law on the articles hereinafter government of the United States from mentioned, and on such as may now be making any regulations respecting the nav. exempt from duty, there shall be levied, igation of ihe said river or rivers, not in- collected and paid, on the goods, wares consistent with the present treaty. and merchandise herein enumerated and

ART. 3. In the future appropriations of provided for, imported from foreign coun. the territory south of the 49th parallel of tries, the following rates of duty—that is to north latitude, as provided in the first arti- say: cle of this treaty, the possessory rights of On goods, wares and merchandise menthe Hudson's Bay Company, and of all Brit- tioned in schedule A, a duty of one hunish subjects who may be already in the dred per centum ad valorem. occupation of land or other property law. On goods, wares and merchandise menfully acquired within the said territory, tioned in schedule I, a duty of forty per shall be respected.

centum.

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