of collecting the same, from 1789 to 3d June, 1843.

Same date.-No. 284. Report in favor of testing the new mode of taking yeas and nays in the House of Representatives, proposed by Lieut. Farley, of the U. S. Coast Survey, with the correspondence of Professors Morse, Bache, Hare, &c. on the subject.

May 25, 1845.-No. 514. Report in favor of appropriating a plot of ground on the public Mall, in Washington city, to be called Monument Square, in the centre of which a National Monument should be erected, and in favor of giving the Washington Monument Society suffi

In addition to the above reports mentioned, there were other and prominent objects to which Col. Prati gave his attention. Among these was the elaborate report, in 1839, in relation to the public buildings at Washington, concluding with a resolution declaring that thereafter all the government buildings should be constructed of the hardest and best material. He introduced, as early as his first session, the resolution to reduce the rates of postage, which he lived to see accomplished at his last session. He moved the bill for the amendment of the naturalization laws. He moved, also, a resolution requiring the Secretary of the Treasury to furnish blanks to enable the banks to make uniform returns. He introduced, while the Texan question was pending, a resolution calling on the Secretary of State for a statement of the amount of the public debt of Texas, her imports, exports, revenues and expenditures for the years 1843 and 1844; her population, free and slaves; her public lands under grant, and the amount estimated as suitable for cultivation ungranted. In the District of Columbia there is no law authorizing the business of banking, the charters of all the banks having expired. Col. Pratt introduced a bill authorizing the

cient aid by the sale of unproductive lots, now owned by government, to enable them to complete the long-meditated and too long-neglected monument to the Father of his Country. The report was accompanied by a plan of a beautiful monument, designed by Col. Pratt. The crypt or basement to contain the Statue of Washington, with niches for the Busts of the Presidents of the United States. The second story to contain niches for Statues of illustrious men of the country. The third story to be a Saloon or Gallery for paintings of historical and national subjects.

establishment of banks in the District, upon the system of the free banking law of New-York. The bill, however, was not acted upon for want of time, and the circulation of the District of Columbia is almost entirely in the paper of banks acting without a charter. He was also the author of the bill to establish a Branch Mint in the city of New-York. He introduced a bill providing that the income of the Smithsonian Fund should be appropriated for improvements in agriculture, mechanics, and literature, so as to be beneficial to the people of all the states; the spirit of this bill of Mr. Pratt has since been embraced in a law. He also introduced a resolution for a periodical and careful examination of the bonds and other securities held by the government, and for taking an inventory of the public property. His resolution, authorizing the loan of the government marquees and tents to state fairs, led, no doubt, to much facility in the arrangement of these useful assemblages. He was also one of the most efficient advocates of a Dry Dock at Brooklyn, N. Y. Other important propositions were submitted by this gentleman, from time to time, which we have not space to enumerate.

THERE has been little change during the month in the general features of the markets. The causes which have been in operation since August, to promote exports at advancing prices, have continued to affect exchanges, sinking the rates rapidly, until they approximate the specie-importing point, both here and at New-Orleans. Money has been, therefore, gradually becoming more abundant, notwithstanding the withdrawal of funds by the government from the deposit banks here, for transmission to the south, in extra war expenditures. It is to be considered, however, that although the government, by sending funds from NewYork to New-Orleans, apparently diminishes the amount to be loaned in New-York, yet the diminished import of dutiable goods has reduced the pay

ments to be made by the importinghouses to the custom-house, and, consequently, the demand for money. That is to say, the amount of public money on deposit in New-York, August 1st, was $3,924,983, which was reduced to $2,232,266 Nov. 1st; being a withdrawal of $1, 692,717 more from New-York than the current revenues for the quarter. The customs were, however, in August, Sept. and Oct. $4,505,568, against $5,742,622, in the same months of 1845. Hence, although the government sent away $1,692,717, it received $1,237,060 less money from the New-York importing merchants, or reducing the foreign trade of the quarter in New-York, as compared with the same quarter last year, to a kind of account current, it will stand thus :

The difference is here very great. There has been $1,015,015 less specie sent abroad, the value of foreign goods purchased being less by $3,463,095, and $1,237,060 less paid the government, making $2,252,075 less outlay by the importers, while the exports of

produce have been greater by 590,007; under such circumstances money could not but be plenty, and the effect on the exchanges is seen in the following table of rates, by each packet, from August 1st to November 16th.

The rates of bills are still very heavy at New-Orleans, and must soon be followed by renewed imports of

specie, notwithstanding that the quantity held by the New-Orleans banks continues very large-as follows:

Cash Liabilities.

.5,865,056.

This large amount of specie has been held by those institutions for more than three years, and has, we see, increased during the last year; while a new year has opened with exchanges 4 per cent. below par. There is no

..6,698,031 ...6,627,027

thing in the position of affairs at that important point which can indicate any scarcity of money. The banks of the state of New-York are equally strong in their position; being, according to their reports, as follows:

Immed. Means.

Total........

The net circulation of the banks is larger than ever before, being at this season paid out freely in the interior for produce which, on coming down, finds a ready sale to meet the notes as they arrive. Notwithstanding this large circulation, there are less country bank notes in the hands of brokers than usual, showing that there is less holding of produce for account of the interior than is generally the case in times of speculation. Notwithstanding the withdrawing of United States deposites, which for the whole state amounts to $2,133,288, the private deposites have increased in banks $3,634,621 during the quarter. The "cash items" of the banks have increased largely, being to some extent, treasury notes.

In such a state of affairs, the new loan asked for by the federal government was a desirable investment. The loan asked for was $5,000,000, at 6 per cent. stock, payable semi-annually, redeemable Nov. 16, 1856, or in ten years. The old loan is redeemable in 1862, and bears 6 per cent. semi-annual

interest. The loans are, therefore, of the same nature as the new one, having six years less to run. The old loan sold at 106, with four months interest accrued, which was equal to 104 for the stock, at which rate the stock, 16 years to run, will pay 5 per cent. per annum interest on the money invested. The new stock to pay the same rate of interest, for 10 years, is worth 102.52. More than double the amount of the stock was bid for at par, and was sold on the day the proposals were assessed, to the New-York stock board, at 101 for the opening of the books. Small sales of the old stock were made at the same time at 107, but did not establish the price. The wants of the government will probably require a further loan. The quarter, which ends Sept. 30, is usually that in which the largest revenues are secured for the year. The revenues and expenditures this year in that quarter, as compared with former ones, are as follows:

March 3, 1843,

Do. Do. under act of

Total actual debt, Dec., 1846... Authorised to issue....

Total debt..

Deduct cash in hand...

"

This is the state of affairs after six months of warfare, and of actual operations in the field, by which several vast provinces have been added to the territory of the United States.

Independently of the financial, political and military operations of the federal government, the state of affairs is such as to present the greatest prospect of national and agricultural prosperity. A combination of events throughout the commercial world, conspires to give permanency and stability to the free trade policy adopted by England and the United States, and which is progressing in France and the countries of Western Europe, and also to promote the commercial ascendancy of the United States. While following the exam

412,283 97 2,660,000 00

.$24,867,216 91 2,340,000 00

.$27,207,216 91 3,459,560 62

ple of England, all countries have been seeking to turn the industry of their people from the production of food into other employments, apparently on the assumption, that in any and all events there will always be abundance of food produced, they are, in the midst of fancied prosperity and of vast accumulation of wealth, suddenly threatened with famine.

Almost all the products of industry other than food, can be produced in excess of supply, so that for long periods of time they will go on accumulating in surplus stocks. Not so with food. Not only does it usually happen in all countries, and in all ages, that the quantity raised by the inhabitants of a country, in each year, is about equal to their con