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Then let the mourning Earth rejoice! The Race,
Whose ignorance now works her pain and wo,
Shall to the day of radiant Order grow;
Beneath the waves of Joy's perennial flow,
Refined in every realm from all alloy,
Shall pulse the tides of Universal joy ;
Their godlike powers in unison employ ;
While thus the golden Sun made answer high
CHANT OF THE PLANETS TO THE ETERNAL.CHORUS OF THE UNIVERSE.
Father of all !
To bless the bounty of thy Parent-hand,
Our grateful strains their choral tide unite,
Great Worker! we
In thy wide labors our high part to bear ;
O God! with thee in sympathy unite,
Sovereign Divine !
Of thine own uncreated Light,
We soar on tireless wing, all-glorious Sire !
We gravitate eternally!
(Chorus.) To thee we ever tend,
Seeking with thee, O Central Life, to blend !
As mountain-summits, bold and high,
The brightness of Hope's golden smile.
FINANCIAL AND COMMERCIAL RECORD.
This dall period of the year has been a stranger. As far as the incidental prorendered even more than usually quiet, in tection afforded by the necessary revenue a commercial way, through the great inte tax goes, the manufacturing interest aprest which was excited by the closing pears to be fully satisfied. There have scenes of a Congress called upon to change been attempts, however, by political parradically the commercial policy of the tisans, to create a panic, but without effect. government; or rather to abandon those The new law, accompanied by the wareanti-commercial restrictions which have house bill, and the independent treasury, been, by erroneous theory, engrafted upon are so palpably beneficial to the great inthe action of the federal government. terests of the whole country, that however Restrictions upon commerce, protection to much party rancour may stimulate expresmanufacturing industry, at the expence of sions of disappointment from partisans, all other, and the use of paper money, the industrious and intelligent of all parwere remains of the monarchial con ties look forward with confidence to a renections of the colonies; the evil tendency newed season of prosperity. The laws and general inutility of which were less which have been passed are but responses readily recognised by the public at large, to the liberal measures of England, with than the direct oppressions of an avowed whom our greatest trade is transacted. aristocracy. So slow have the citizens of That country, in the thirty years that have the United States been to resist this species elapsed since the war, has been in a state of governmental usurpation, that even the of transition from an almost strictly prohi. people of England have outstripped them bitive to a free-trade policy; scarcely a in the emancipation of commerce and ge- year has elapsed without some important neral industry from hurtful special privi- modification of her commercial policy. leges, and in curbing the issues of paper Taxes, and restrictions upon articles of im, money by existing corporations. The port from the United States, have followed United States have at last abandoned the each other with rapidity in the last few false theory of protection : and have pass years; and liberal opinions are still making ed a law which recognises taxation only progress, as far as the United States are for its legitimate object of supplying the concerned. The next great reform of the actual wants of the government. They English laws will be the modification of have also officially discarded and discoun- the tobacco duties. Nearly all the tobacco tenanced the use of bank paper as a cur consumed in Great Britain is imported rency. These radical changes are now from the United States. Neither her cololikely to be permanent; but the uncertain- nies, nor the mother islands, raise any of ty in which ihey remained, up to the close the article. There has, therefore, been no of the session, served to keep the commer motive to impose a tax for any other
pur. cial world in suspense. Their passage, pose than revenue.
The necessities of the and the final settlement of the poliey of government have, however, always been the government, has imparted a feeling of such as to require the greatest amount that relief to the mercantile mind; and, as it they can raise ; and often their ability has were, a decision to which it has long been not been equal to their wants. Tobacco
is, of all articles, one that will bear a heavy adulteration of the article as manufactured tax, without materially injuring the trade, in England, as well as the introduction of it because it is not a necessary, and is a luxu- into the country. Parliamentary investi. ry, used in quantities so small, that how gatiou has shown that the tobacco sold for great soever may be the tax, it enters but use in England is adulterated 10 to 12 per slightly into the expense of the individual. cent., with sugar of milk, japonica, brown The government was not slow to avail it- paper soaked in sarsaparılla, rhubarbself of the capacity of tobacco to yield a leaves, &c. The number of frauds detectrevenue. In 1821 the duty was 48. ster: ed in, and arrests for smuggling tobacco, ling, or 96 cents per Ib.; the first cost of are greater than in all other articles. Alwhich, in the United States, was about 4 most the whole expense of the English cents. The duty was, therefore, near 24 coast-guard, amounting to $2,500,000 per hundred per cent. Such a premium on annum, is now incurred for the prevention smuggling would not fail to excite the cu- of smuggling in tobacco. Notwithstandpidity of the adventurer, and the duty was ing this state of affairs in England, and of necessity reduced to 38. sterling, or 72 the oppressive regies that exist on the concents the lb.; at this rate it has continned tinent, the tobacco trade of the United ever since. The enormous charge has, of States has progressed as follows: course, led to numberless frauds in the
EXPORT OF TOBACCO FROM THE UNITED STATES, FROM 1821 To 1845,
Total, 21 years, $151,177,346 $7,254,129 1,876,828 $143,923,217 1842,
$10,066.245...... 525,490.. .8158,710...... $9.540,755.. 1843,
4,929,298. 278,319. 94,454... 4,650,979. 1844,
536.600. .. 163,042...... 8,397,255.. 1845,.
$60 11 49 23 51 50 50 75
This period of 21 years is divided very 20 per cent.; at that time the tariff of Au. nearly into the operation of three distinct gust, 1841, took effect, followed by the tariffs. Those prior to 1828 were high. high tariff of 1842. It is a remarkable The onerous tariff of that year was modi- circumstance, that although the years 1828 fied by the compromise act of 1832. The to 1834 evinced high prosperity and abunfirst reductions under that tariff took place dance of money, both in England and the in 1834, and continued biennially, until United States, they were marked by a they ceased in 1842, at the general level of lower average price for tobacco than
either of the preceding periods of seven promise tariff, was 60 per cent. higher than years, when the quantity produced was in the three years since the tariff of 1842 nearly the same; or that which followed, has been in action. Low duties on goods when the harvests of England failed, and coming from abroad, in payment for Amerevulsion overtook the commercial world. rican produce, uniformly were attended In the year 1839 the crop of tobacco failed, by high prices for that produce. The foland the range of that year was very high; lowing table, showing the destination of but omitting that year, the average was United States' tobacco, will indicate the instill higher than in the years of high United fluence which the English market has upon States duties. The average, for the seven the demand: years of the descending scale of the com
EXPORTS OF HHDS. OF LEAF TOBACCO FROM THE UNITED STATES.
Years. England. France. Hanse Towns. Holland. Italy. Other places.
Total. 1836........36,822......7,853.... .22,246...... 19,148.. 618.
. 109,442 1837
20,723......9,110.. 28,863.. 22,739 ...239......18,558. .100.232 1838. .24,312.....15,511...... 25,571.. 17,558.....1,452......19.189......100,593 1839.
30,068. ..9,574. 14,303. 12,273......897. 11,980. 78.995 1840. .26,255 ....15,640...... 25,649.. .29,534.....2,631...... 19,775......119,484
. 41,681. 17,586. ..36,517. 26,203. 1,222. ...24,619. .147,826 1842. .36,086. . 15,938. .42,614. 36,079.....1,841. .26,152. .158,710 1843.. .21,029.....11,406. ..24,504. ..19,519......865.. ..17,227. 94,454 1844........38,584..... .21,748. .40,602, 28,814.....1,459. ..31,835. .163,042 1845........26,111.. .18,271. .. 46,460.. 29,027 -.5,133......22,166......147,168
The great increase in the trade to the of Germany, consequent upon the ZollveHanse 'Towns har, of late years, been owing rein. The destination of manufactured toto the great extension of the interior trade bacco has been as follows:
EXPORTS OF MANUFACTURED TOBACCO FROM THE UNITED STATES.
Years. Hanse Towns. Holland. England & Brit. Amer. France, Other places. Total
lbs. 1833. 136,846.... 169,682....710,660. .1,259,856...
.1,512,758....3,790,310 1834.. 76,794.... 17,394....671,923....1,576,648. .60,000....1,553,820....3,936,579 1835.. 238,795.
..755,853 ..1,342,924....21,654....1,458,628. .3,317,854 1836. ... 11,459.... ....217,099....1,196,082.... 1,650....1,820,387....3,256,675 1837. 77,818..
...828,525....1,262,340....18,571....1,428,337....3,615,591 1838. 280,123.... 34,603...1,694,571....1,608,908....51,388....1,338,554....5,008,047 1839...... .276,801....136,973...1,454,996....1,266,716....
545,352....4,214,943 1840. .526,236.... 43,467...2,497,664....1,831,536.... 7,550....1,880,713....6,787, 165 1841. 257,124.... 31,364.. 2,825,737....1,769,935....59,982....2,559,602...,7,503,644 1842. 231,449.
.... 89,734...1.144,539. .1,442,337...137,480....1,385,632.... 4,434,214 1843.
.362,042.... 30,245...1,634,055....2,026,884....33,463....1,960,189. .6,016,873 1845. ..143,064.... 40,349...1,741,699....1,857,872....55,992....1,475,997....5,312,971
The increase of the export, under the United States in each year, with the quandescending scale of the compromise, and tities imported into England, from official the decline under the last high tariff, are reports, we shall observe a remarkable disagain very marked. If, now, we compare crepancy between the exports from here the quantities of leaf exported from the and the receipts there :
The hogshead is calculated at 1,200lbs., United States thither. A great deal of the and it is observable, that the total imports tobacco which is entered in bond, is ex. into Great Britain are reported 27 million ported to the continent and returned in of pounds less than the export from the other packages, as herrings and other com
modities. This is a regular trade, and the carry on this large traffic in United States' charge is 2s, per pound, by which ls. is tobacco, with the continent and elsewhere, saved. In the above table, the fiscal year which ought to be done by American ves1841, of the United States, commenced sels: our usury laws, and the absence of October, 1840; and that of Great Britain, warehousing privileges, have hitherto Dec. 31, 1840. The United States' year, driven the trade into English hands. The 1843, is for nine months only, and the year great evils and losses which attend the ex1845 ends June 30. The English figures orbitant English duties on the article, have for 1845 are for nine months only, ending been so perseveringly and ably laid before September 30. The number of months Parliament by Mr. Joseph Hume, and reare, consequently, the same for both coun- newed at the present session, that there is tries; the English returns closing three now every chance of a great reduction in months later, when all the tobacco report the duty—a result which cannot but ened left the United States had arrived out. hance the English consumption to some The result would indicate a smuggling of extent; and by so doing improve the price 17 per cent. The English trade is expres- of the whole production. We look upon sed in the following figures for the year this as an important element in the in1841:
crease of American credits in England.
The changes now in progress must add Import into
very largely to the annual amount due from England...... lbs. 41,845,991
England to the United States; and opporScotland.. 2,089,155
tunely, reductions in the duties upon artiIreland...
cles which constitute the means of England
43,935,151 Imported from
to discharge those debts, have been made. The United States.....42,132,969
The extent to which the United States can All other countries.... 1,802,182
supply England with food, is almost limit.
43,935,151 less; and, perhaps, go greater instance of Entered for consumption....... ..21,871,438 partisan recklessness can be adduced, than Export to
ihe attempt made, in and out of Congress, Germany..
to show that the United States cannot supHolland, 1,251,251
ply the wants of England. The receipts Belgium .
882,416 Spain... 2,512,565
of articles of food, at the great outlets of West Coast Africa.... 978,430
western produce, this year, as compared All other ports........ 4,581,415
with a previous one, to the 1st of August, Toul..
10,890,171 are sufficient to show the limitless capacity
of the western states. They are as fol. The facilities afforded to the trade of lows:England by the warehouses enable her to
At tide-water on the Hudson, to Aug. 1.
At New-Orleans, to Aug. 1.
Flour. Wheat. Corn, bbls. bush. bush. bbls. bush.
bush. 682,093... 230,035..... 4.406.... 493.000....254,709... 1,051,190 .688,561... ..149,990... 9,390......504,268....184,398....1,154,622 ..976,503........378,622...... 430,216......816,259..1,202,170....3,452,847.
1844. 1845. 1846.
The flour and wheat, expressed in bush- tariff comes into operation 1st Decemels of wheat, arrived at ihe two points, ber, and up to that time importations will op to August, 1846, was 10,544,902 bush- probably not be heavy until the low duties els, against 6,299,533 bushels in 1845, and iake effect. There may also be some dis6,360,508 bushels in 1844. This is an in- position to re-ship such goods as are enticrease over a very abundant year, when tled to debenture, to bring them in under prices were low, 'at the rate of 8,000,000 the low duties. The warehouse bill havbushels per annum of wheat, 3,500,000 ing gone into operation, holding out facilibushels of corn, or a value of near $8,000,- ties for storing goods, and removing from 000. A continuance of the high prices that importers the obligation to pay cash duties ruled last fall would have doubled the in on arrival, causes large imports to go into crease next year. The exports of farm warehouse ; as, for instance, a cargo of suproduce, rice, cotton and tobacco, may rea- gar from Matanzas, of some 3,000 boxes, sonably be expected to double to England, under the present law of 24 cents per lb., in the aggregate value, in the next few would have to pay $37,000 duties. It years; and, as a necessary consequence, goes into warehouse, and at 30 per cent. the returning proceeds must double. The will probably pay but $13,000. The gove immediate state of the market is one of ernment will suffer loss by this operation, inquietude, occasioned solely by the Mexi. but it will swell the revenue of the new can war; all the elements are in exist- tariff. In the seven months which closed ence of unusual prosperity. The new with July, the merchants of New-York