merchants' magazine: index: july-december 1841, vol. v · the merchants’ magazine, conducted...

THE

MERCHANTS’ MAGAZINE,

CONDUCTED BY FREEMAN HUNT.

N E W - Y O R K :F R E E M A N H U NT , 142 F U L T O N - S T R E E T .

B O S T O N : S A X T O N & PI E RC E. PHILADELPHIA: D R E W & SCAMMEL.

NEW-ORLEANS: J. F. CORNS & CO.

AND

Commercial nefclcm.

vo l u m f y .

1841

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

OCT 31 1941


I N D E X .

ORIGINAL PAPERS.

The Mississippi Schemet by Francis Wharton.................................................................. 9Theory of Banking, by a Merchant o f Boston, Mass........................................................ 27Progress o f American Commerce, by James H. Lanman................................................ 37Maryland, and its Resources, by William G. Lyford........................................................ 50Free Trade, by S. G. Arnold................................................................................................. 58Profits o f Marine Insurance— The Mutual System, by Zebedee Cook, jr.................... 63Question o f Average, by Judge Willard Phillips............................................................... 67The Law o f Contracts in Missouri, by Charles G. Whittlesey, Counsellor at Law... 70Commercial History o f France, No. 1, by Francis Wharton.......................................... 105American Manufactures, by James H. Lanman................................................................ 122British Import Duties— Abstract o f the Report o f the Committee o f the House of

Commons on Import Duties, etc.................................................................................. 145General Average— Its application to Lighterage and Freight, by Judge Willard

Phillips............................................................................................................................... 157Question on Average, by Zebedee Cook, jr....................................................................... 159Culture o f Silk in the United States, by Louis Tinelli...................................................... 162Protection vs. Free Trade, by Horace Greeley................................................................. 166Agricultural Commerce of the United States, by James H. Lanman.......................... 201Sketches o f Distinguished Merchants—

Charles Louis Montaussier............................................................................................... 229Notice o f the Life and Character o f Joseph May.................. ........................................ 356Life and Character o f the late Nicholas Brown............................................................. 538

Commercial Docks, by D. J. Browne, Civil Engineer...................................................... 239Laws relative to Debtor and Creditor—

Of Missouri, by Charles D. Drake, Attorney at Law, St. Louis.................................. 252O f Illinois, by Charles Gillman, o f the Quincy (Illinois) Bar..................................... 446

Suffolk Bank System................................................................................................................ 261Russia and her Commercial Strength, by Francis Wharton........................................... 297Coinage o f the Precious Metals, by J. V. C. Smith, M. D .............................................. 321Philosophy o f Storms, by S. G. Arnold.............................................................................. 338Venetian Commerce, by E. W . Stoughton......................................................................... 393Thermometrical Observations, as connected with Navigation, by James Mease, M. D. 411British Import Duties— Evidence of John Bowring, LL. D............................................. 422Illinois, and its Resources....................................................................................................... 427Dutch Commerce, from the French of M. Bois Lecompte.............................................. 437Townsend’s Icebreaker.......................................................................................................... 444Morocco, and its facilities for American Commercial Enterprise, by W . S. Mayo,

M. D .................................................................................................................................. 489Commercial Relations o f the United States, by James H. Lanman............................... 507British Corn Laws, by James M. Whiton........................................................................... 519The Morals o f Trade, No. 1, by John Bellows................................................................. 526Familiar Scenes in the Life o f a Clerk, by the author o f the “ Victim o f Chancery,” 530 The Computation o f Interest, by C. C. Gordon.................................................................. 540


4 Index.

MERCANTILE LAW DEPARTMENT---- DECISIONS, ETC.Copyright— Transfer o f Bank Stock— Import Duties..................................... 73, 74, 75, 76Interesting Mercantile Law Case........................... ............................................................ 168Fraudulent Entry o f Goods................................................................................................... 170Tariff Duties— Marine Insurance..................................................................................... .. 171Seamen’s Wages— A Letter o f Credit................................................................................ 263Marine Insurance— Jettison o f Goods carried on Deck................................................... 264Action on the Bill o f Lading, Custom of Russia................................................................ 264Damages on Protested Bills o f Exchange in each State, etc........................................... 265General Bankrupt Law o f 1841................................................................................. ........... 360Decisions in the United States Courts................................................................................. 450Maritime Assaults— Opinion o f Judge Hopkinson............................................................ 452Foreign Attachment— Insurance— Bills and Notes........................................................... 548Accord and Satisfaction— Assumpsit.................................................................................. 549

BOOK TRADE---- LITERARY NOTICES.

Nestorians, or the Lost Tribes— Rauch’s Physicology...................................................... 77Dumas’ Progress of Democracy— Pictorial Illustrations o f the Bible............................ 78Family Secrets—Sutton’s Learn to D ie.............................................................................. 78Plistorical Sketches o f the Old Painters— Works o f Howitt, Milman, and Keats........ 79Summer Journey in the West— Old Humphry’s Addresses............................................ 79Stephen’s Incidents o f Travel in Central America.......................................................... 80Tyrolese Minstrels— Merchant’s W idow, and other Tales , ........................................... 80Downing’s Treatise on the Theory and Practice o f Landscape Gardening................ 173Hilliard’s Treatise on the Law o f Sales o f Personal Property.......................................... 173Campbell’s Life o f Petrarch— Carlyle’s French Revolution,...,...................................... 174Bridge’s Treatise on the Elements o f Algebra................................................................... 174Collections o f the New York Historical Society............................................................... 175Vale’s Life o f Thomas Paine— Young’s Chronicles o f the Pilgrims.............................. 175Frontin’s Selections from Bouilly’s works............................................................................ 176Taylor’s Lectures on Spiritual Christianity........................................................................ 176Tales o f the Kings of England— Greenwood’s Sermons for Children.......................... 176Miss Copley’s Early Friendships........................................................................................... 176Curtis’s Rights and Duties o f Merchant Seamen............................................................... 267Schlegel’s Lectures on the History o f Literature............................................................... 268Dr. Channing’s Complete Works— Marryatt’s Masterman Ready................................. 269James’s Ancient Regime........................................................................................................ 269Mackenzie’s Life o f Paul Jones— Guy’s Elements o f Astronomy, etc.......................... 270Prescott’s Reign o f Ferdinand and Isabella....................................................................... 270Bancroft’s History o f the Colonization o f the United States............................................ 271Philips’ Ladies Closet Library............................................................................................... 271Peter Parley’s Universal History, on the basis o f Geography........................................ 271Miss Sedgwick’s Letters from Abroad to Kindred at Home........................................... 272James’s W idow directed to God—-Mrs. Hofland’s Farewell Tales............................... 272Buckingham’s America ; Historical, Statistical, and Descriptive................................... 368Townsend’s Facts in Mesmerism— The Dahlia, etc.,...................................................... 368Appleton’s Tales for the People— The Siege o f Derry, etc........................................... 368Mrs. Osgood’s Poetry o f Flowers and Flowers o f Poetry................................................ 454Robinson’s Researches in Palestine— Davies’ Sermons, etc............................................ 455McCulloch’s Commercial Dictionary— Law and Lawyers— Mellen’s Argument on

Slavery......................................... ................................................................................... 456Park’s Pantology— Mrs. Osgood’s Wreath of W ild Flowers, etc.................................. 457Stone’s Life and Times o f Red Jacket— Bulwer’s Miscellaneous Writings................ 458Mrs. Griffith’s Two Defaulters— Gems o f Irish Eloquence............................................. 458Siebald’s Manners and Customs o f the Japanese— Buck’s Anecdotes.......................... 459Crump’s World in a Pocket-book— Sherwood’s Motive Power, etc.............................. 459Ilowitt’s Book o f the Seasons— Plain Sermons................................................................. 460Buck’s Ruins o f Ancient Cities— Rogers’ Anti-Popery.................................................... 460James’ s Happiness; its Nature and Sources....... ............................................................. 460Appleton’s Miniature Classical Library—^Confessions o f an English Opium Eater... 461Nelson on Infidelity— Hoskin’s Astronomy for Schools— Rocky Island, etc............... 461Milman’s History o f Christianity— Miss Martineau’s Settlers at Home........................ 462Burnap’s Lectures to Women and Young Men................................................................ 462


Index. 5

Basil Montague’s Life and Works o f Lord Chancellor Bacon....................................... 550Works o f Lord Bolingbroke................................................................................................... 550Goldsmith’s Vicar o f W akefield.................................................................................... .. 550Bradford’s American Antiquities........................................................................................... 551Livermore’s Commentary on Matthew............................................................... »............... 551Autobiography, Reminiscences, and Letters o f John Trumbull..................................... 551Wheaton’s Scandinavia— Olmsted’s Whaling Voyage— The Mignionette.................. 552Sarah Austin’s German Fragments....................................................................................... 553Theodore, or the Skeptic’s Conversion................................................................................ 553Historical Collections o f the State o f New York.............................................................. 553D ’lsraeli’s Amenities o f Literature— Camp’s Democracy................................................ 554Dana’s Seaman’s Friend......................................................................................................... 554Evenings with the Chronicles................................................................................................ 554Roscoe’s Lives o f Eminent British Lawyers................................................................... . . 555Tuckerman’s Rambles and Reveries— Alcott’s Sabbath School................................... 555The Glory and Shame o f England— True Catholic Churchman................................... 556Rollo Books— The Gem......................................................................................................... 556The Gift— The Rose o f Sharon— The Child’s Gem......................................................... 557Washington Irving’s Biography and Poetical Remains o f M. M. Davidson................ 557

COMMERCIAL REGULATIONS.

Regulations established by the Baltimore Board o f Trade.............................................. 81Tariff o f the Province o f New Brunswick.......................................................................... 83Texas Customhouse Regulations............................................................ 85Treaty o f Commerce and Navigation between the United States and Hanover......... 177Change in the Currency o f Jamaica.................................................................................... 180Treaty o f Commerce and Navigation between the United States and Portugal......... 273N ew Tariff o f Duties at Venezuela..................................................................................... 275New Commercial Regulation o f Peru.................................................................................. 276Cotton-pressing in New Orleans........................................................................................... 276Law of the State o f New York in relation to Masters o f Vessels and Non-residents, 276Russian Moneys— Weights— Measures— Exchange— Bills o f Exchange.................... 369Tariff o f Charges, etc., at St. Louis...................................................................................... 465Tax on New Orleans Merchants........................................................................................... 466Inspection o f Sole-leather in New Y ork .............................................................. .............. 467Modification o f Danish Sound Dues.................................................................................... 468The United States Tariff o f 1841......................................................................................... 582Silver Currency o f Cuba........................................................................................................ 584Regulations for the Commerce o f Yucatan........................................................................ 584

NAUTICAL INTELLIGENCE.

Changes in the Sea-marks before Drago............................................................................. 85Sailing Directions for Port Lincoln....................................................................................... 86Madeline and Charlotte Rock off Bonavista...................................................................... 87Lighthouse at Gibraltar.......................................................................................................... 87Lighthouse at Hobson’s Bay, Port Philip............................................................................ 88Westerly entrance o f the River W eser................................................................................ 88Light off Carysford’s Reef...................................................................................................... 88Port Regulations and Rates o f Pilotage for the Harbor o f Boston.................................. 181Pilotage o f the Scheldt— Regulations for Spanish Ports................................................... 183Law relating to Hospital Money at the Port o f New York........................................... 183Laws in relation to the Harbor o f M obile.......................................................................... 184Statistics o f English Navigation........................................................................................... 277Caution to Whalemen bound to the Indian Ocean........................................................... 277Plymouth Breakwater............................................................................................................ 278Directions for the Coast about Rottenest Island............................................................... 382Method o f manufacturing Ship Cordage.............................................................................. 383Rock near Cape Bousa............................................................................................................ 383Protection o f Ships from corrosion— Graham Shoal— Bass Straits................................ 384Ray’s Life-preserving Boat..................................................................................................... 558Coquet Light and Buoys, Northumberland........................................................................ 559Comparative Naval force o f England, France, and America.......................................... 560


G Index.

COMMERCIAL STATISTICS.

Commerce, Trade, and Navigation of Great Britain in 1840..................................... 98Navigation o f Great Britain in 1840 and 1841.................................................................... 100Exports o f Calicoes from England to the United States for the last nine years......... 100Trade o f Great Britain with the United States and France............................................. 195Hops, Malt, Breweries, etc., o f England............................... .............................................. 197Quantity o f Soap made in Great Britain in 1840............................................................. 197Exportation o f Cocoa from Guayaquil................................................................................. 197Production o f Coffee in the World..................................................................................... 198Production o f Sugar in the World....................................................................................... 198Commerce o f Cuba in 1840................................................................................................... 198Importation o f Grain and Flour into Great Britain in 1840............................................ 200Wines imported into England................................., ............... ................................. ......... 200Sugar imported into England.................................................................................... ......... 200C imerce o f Jamaica-^—Imports for 1838,1839, and 1840................................. . ........ 287Commerce and Business of Oswego, 1840......................................................................... 287Trade, Commerce, and Navigation o f Havana................................................................. 288Tobacco, Snuff, and Manufactured Tobacco exported from the United States from

1821 to 1840...................................................................... ........................................... 289Statement, showing to what countries U. States Tobacco is principally exported,... 290Exports of Tobacco from the United States....................................................................... 291Iron Trade o f Newport and Cardiff, (W ales,).................................................................... 292Draft and Tonnage of Vessels entering the Port o f New York..................................... 292Number o f Arrivals and Tonnage of Vessels at New York, from 1810 to 1840........ 293Annual Export of British Manufactured Cotton, Linen, Silk, and Woollen Goods... 385British Cotton Trade.............................................................................................................. 385British Wheat and Flour Trade..................................... ............................. ...................... 386Commerce o f the United States with Great Britain.......................................................... 387Imports into Great Britain and Ireland from the United States, from 1831 to 1839, 387 Exports from Great Britain and Ireland to the United States, from 1831 to 1839.... 387The British Corn Laws.............. .......................................................................................... 387British Trade with the East Indies...................................................................................... 388Coffee Trade o f the United States, from 1821 to 1840.................................................... 389Table o f Imports, Exports, and Value o f Coffee............................................................... 389American Whale Fishery............................................................................. ........................ 390Exports o f Cotton from Mobile for the last four years................................................... 471Commerce o f New Orleans................................................................................................... 471Exports o f Cotton from New Orleans for the last ten years........................................... 472Exports o f Tobacco from New Orleans for the last ten years....................................... 473Arrivals, Exports, and Stocks o f Cotton and Tobacco at New Orleans for the last

ten years.............................................. 474Exports of Sugar and Molasses from New Orleans for the last five years.................. 474Imports from the Interior into New Orleans for the last ten years.............................. 475Arrivals of Square-rigged Vessels and Steamboats at N. O. for the last four years... 478Importation of Cochineal into Great Britain, from 1815 to 1840................................... 478Commerce and Navigation o f the United States for 1840.............................................. 479Cotton Exports o f Great Britain to different Countries for 1840................................... 482Belgium Commerce and Navigation........................... 482Commerce and Navigation of the United States for 1840.............................................. 561Value o f Merchandise imported from foreign countries to the United States in 1840, 562Free Goods imported into the United States in 1840....................................................... 563Merchandise paying duties ad valorem, imported by the United States in 1840........ 564Merchandise paying specific duties, imported into the United States in 1840............. 565Value of Foreign Merchandise exported from the United States in 1840.................. 568Foreign Merchandise exported from the United States in 1840, free o f duty............. 569

“ “ “ ad valorem duty.... 570“ 4* “ specific duty............. 570

Domestic Exports o f the United States to Foreign Countries in 1840.......................... 571Articles composing the Domestic Exports o f the United States in 1840...................... 572Commerce o f the United States with each Foreign Country in 1840.......................... 574Navigation o f the United States, showing the Tonnage employed in 1840................ 575Commerce o f each State and Territory in the United States in 1840.......................... 577


Tonnage o f the several Districts o f the United States in 1840....................................... 578Statement o f Vessels built in each State and Territory o f the United States in 1840, 580Statement o f the Tonnage o f the United States, from 1815 to 1840, inclusive........... 580Time-table for the Computation o f Interest.........*............................................................. 581India Sugar and Rum ......................... *............... .........................*............... *................*... 581

STEAMBOAT AND RAILROAD STATISTICS.

East India Mail Steamers.................... *............... ............................................**.......*........ 185Receipts, Expenditures, and Dividends o f Massachusetts Railroads, in 1840.............. 185New Jersey Railroad............................................................................................................... 283Statistics o f Western Steamboats......*................................................................................. 284Comparative Cost o f Transportation on Railroads, Canals, etc..................................... 284Utica and Schenectady Railroads— German Railways.................................................... 469Comparative Passages o f Cunard’s British Steamers........................................ ............... 470Cost o f Transportation on the Baltimore and Ohio Railroad...................................... . 4?0Western Steamboats........... *............................ *............... *......................................... *......... 470

Index. 7

BANK STATISTICS.

Condition o f the State Banks in the United States............................................... *.......... 186Condensed Statement, at different intervals, o f all the Banks in the U. S................... 186Comparative View o f all the Banks in the U. S. from 1831 to 1840......................**... 187Condition o f the Banks o f the U. S. that have made returns near Jan. 1840.............. 188Annual Report o f the Governor o f the Bank o f France.................................................. 278Condition o f the Banks in the State o f New York, from 1819 to 1841....................... i80Condition o f the Bank o f France on the 30th o f June, 1841............................................ 483Savings’ Banks in France....................................................................................................... 483Banks in Boston— List o f Cashiers, Capitals, and Semi-annual Dividends.................. 484Comparison o f the Prices o f Bank Notes in 1824 and 1841*.......................................... 484

COMMERCIAL TABLES.

State Stock Table, exhibiting the comparative value o f the various State B onds... . 190Pro Forma Table, or Tariff o f British Custom Duties....................... ......... ....... *.......... 191Import Duties— Reason, etc., o f the American Chamber o f Commerce at Liverpool, 194French Coins—W eights and Diameters o f the existing Coins o f France..................... 379Tables o f Commercial Weights', computed by D. J. Browne.......................................... 380Table for Converting Avoirdupois Weights into French Weights................................. HTable for Converting French Weights into Avoirdupois................................................. 380Bullion Tables, computed by D. J. Browne................................................................... . 381Table for Converting Troy Weights into French Weights............................................. 381Table for Converting French Weights into Troy Weights.............................................. 381

STATISTICS OF POPULATION.

Population o f the United States in 1840..................... ...................................................... 281Census o f Pennsylvania in 1830 and 1840......................................................................... 282Rate o f Increase per cent o f Population in Pennsylvania............................................. 282Comparative Population o f the Principal Cities in the State o f New York.................. 283Population and Square Miles o f each County in Illinois in 1840............................... 301Classification o f the Employments o f the Population in Illinois in 1840..................... 392Census o f the United States in 1840................ ................ *......................................... . 485Value per head o f the Products o f the United States....................................................... 486Facts in regard to the Census o f the United States...............*.......................................... 187Prussian-Rhenish Population............................................................................. *.......*........ 487

STATISTICS OF AGRICULTURE.

Live-stock o f the State o f New York in 1840............................................... *........ ....... . 89Cereal Grains produced in the State o f New York.......................................................... 90Various Crops o f the State o f New York..........................................................................* 91Cotton, Sugar, Silk, etc., o f the State of New York........................................................ 92Horticulture, Gardens, Nurseries, etc., in the State o f New York............................... 94Agricultural Statistics o f each State and Territory o f the United States...................... 286


8 Index.

STATISTICS OF MANUFACTURES.

Manufactured Leather, Tanneries, Saddleries, etc., in New York in 1840................ 95Distilled and Fermented Liquors manufactured in New York in 1840......................... 9GDistilleries in each State and Territory o f the United States in 1840.......................... 97

MERCANTILE MISCELLANIES.

The Decimal System in Weights and Coins...................................................................... 102Mexican Dollars— Important to Manufacturers o f Flour.................................................. 103Portraits on Roman Coins— New York Business Directory........................................... 103Tobacco suitable for European Markets— American Commercial Enterprise............ 104Qualifications o f a Merchant........................................... ................ ............... ................... 293Donations to Mercantile Library Association, New Y ork .......... . .................................. 294Duration o f Litei ary Copyrights— Spurious T ea........................................ ...................... 295Progress o f the Sugar Trade in the United States........................................................... 296Boston Ice Trade— Commercial Resources o f the South............................................... 296Poetry o f Bookkeeping— Method o f Collecting a Debt, & c........................................... 463Slave Market at Constantinople......................................................... , ............................... 464Glut in the Market— Commercial Honesty........................................................................ 464

MERCANTILE OBITUARY.

Joseph May, Esq., by F. W . H ........................................... ................ .................. ............ 101

MISCELLANEOUS.

Note to Readers and Correspondents................................................................................. 104Errata to Professor Tucker’s article on Import Duties.................................................... 104Merchants’ Temperance Society of the City ol New York........................................... 392Mercantile Library Association o f New Y ork.................................................................... 488Lyford’s Price Current........................................................................................................... 488Fairbank’s Platform Scales................................................................................................... 584

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merchants' magazine: index: july-december 1841, vol. v · the merchants’ magazine, conducted...

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