Изображения страниц
PDF
EPUB
[blocks in formation]

From the above statement it will be seen that the circulation of all banks amounted to $8,928,358; nett profits on hand $1,778,943; and deposits to $3,948,987; specie $1,500,762; notes dicounted on personal security $10,825,524; domestic exchange to $9,621,510; the suspended debt to $1,618,139. Compared with the exhibit of the last month, this statement shows a falling off in circulation to the extent of $673,183; an increase of profits to the extent of $163,031; a decrease in deposits of $434,503; a decrease in specie to the extent of $16,400; a decrease in notes discounted on personal security to the extent of $705,243; a decrease in domestic exchange to the extent of $374,784, but an increase in for eign exchange to the extent of $611,223.

This statement indicates a considerable contraction, but not greater than is natural to the season. In fact, by reference to the report published in the Charleston Standard for May, 1855, it will be seen that the circulation of the banks amounts to only $6,891,708; deposits $3,520,693; specie to $1,382,238; domestic exchange to $8,205,674; foreign exchange only $339,270; while the suspended debt amounted to the imposing figure of $2,248,428. There is, says the Standard, therefore, the evidence afforded by these statements, as well as the many other indications to be met with in the transaction of ordinary business, to assure us that times are somewhat better than they were a year ago.

AMENDMENT OF THE USURY LAWS OF LOUISIANA.

The following act of the Legislature has become a law on the subject of usury in that State :

SEC. 1. Be it enacted by the Senate and House of Representatives of the State of Louisiana, in General Assembly convened, That the owner or discounter of any note or bond or obligation, or other written evidences of debt, for the payment of any money, payable to order or bearer, or by assignment, shall have the right to recover the full amount of such note, bond, or obligation, or other written evidences of debt, and all interest not beyond 8 per cent per annum that may accrue thereon, notwithstanding that the rate of interest or discount at which the same may, or may have been discounted, has been beyond the rate of 8 per cent per annum interest or discount, any law to the contrary notwithstanding. Provided, the terms of this section shall not affect the validity or obligation of any contract entered into before the going into operation of this act.

SEC. 2. That the foregoing section shall not apply to the banking institutions of this State operating under the existing laws.

PURCHASE OF united statES STOCKS BY THE GOVERNMENT.

JAMES GUTHRIE, the Secretary of the Treasury, under date of the Department, May 28th, 1856, has issued the following notice :

Notice is hereby given to the holders of the stock issued pursuant to the act of Congress of 22d July, 1846, that such stock is redeemable by its terms, and will be paid at the Treasury on the surrender of the certificate thereof, on the 12th of November next, when interest thereon will cease.

This department will continue to purchase such stock prior to said day of redemption, and will pay therefor the following premium, in addition to the interest accrued to the day of purchase, with one day's interest for the money to reach the vendor :

On such stock received at the Treasury between the 1st day of June and the 31st day of July, inclusive, one-half of one per cent on the amounts specified in the certificates.

On such stock received between the 1st and 31st days of August, one-fourth of one per cent.

And on such stock received after the 31st day of August, the interest accrued thereon, and one day's additional interest only, will be paid.

Certificates of such stock transmitted under this notice must be duly assigned to the United States by the party entitled to receive the purchase money; and when sent prior to the 1st of July, the current half-year's interest must also be assigned by the present stockholder, otherwise such interest will be payable as heretofore.

And notice is further given to holders of other stocks of the United States that this department will purchase the same between the 1st day of June and the 1st day of December next, unless the sum of $1,500,000 shall be previously obtained, and will pay for the same, in addition to the interest accrued from this day of the last dividend of interest, and one day's additional interest for the money to reach the vendor, the following rates of premium :

On stock of the loan of 1842, a premium of 10 per cent.

On stock of the loans of 1847 and 1848, a premium of 16 per cent.

And on stock issued under the act of 9th September, 1850, commonly called Texan indemnity stock, a premium of 6 per cent.

Certificates transmitted under this notice should be duly assigned to the United States by the party entitled to receive the money, and if sent previous to the 1st July, the current half-year's interest must also be assigned by the present stockholder, otherwise the interest for the half-year to that day will be payable to him as heretofore.

Payment for all the foregoing stocks will be made by drafts on the assistant treasurers at Boston, New York, or Philadelphia, as the parties entitled to receive the money may direct.

MONEY: WHENCE COMES THE WORD?

A correspondent of the Independent answers the question after this manner. We agree with our cotemporary that "it is too good to be lost," and therefore transfer it to the Merchants' Magazine, as a more convenient record for ready reference, present and future :

Maa-ne is a Danish word, pronounced nearly like the English word money. The aa in the former syllable has a sound that is between that of o in note, and that of a in fall, and which may easily be mistaken for either of these sounds. The e in the latter, and unaccented syllable, has nearly the sound of y in money. The Danish word maane, (pronounced moh-ny or maw-ny,) signifies moon. Now look

at a bright silver coin, just from the mint, and then at the bright full moon; look at the image on the coin, and then at "the man in the moon," and say if money be not “ Luna,”* (and those who try to get it "on tic," Luna-tics.)

• Luna, Latin word for moon, as some may need to be informed.

MISSOURI LOAN OF STOCK TO AID RAILROADS.

We give below a synopsis of an act of Missouri authorizing the loan of $7,000,000, in addition to $9,000,000 previously granted, to aid in the construction of the several railroads mentioned in this act :

SECTION 1. Authorizes a further issue of State bonds, not exceeding seven millions of dollars.

SEC. 2. Declares this loan of the State to be on the condition of a first lien or mortgage upon the roads.

SEC. 3. Proof must be furnished to the Governor that the money realized from the bonds shall be expended as required in previous laws.

SEC. 4. Upon proof, the Governor shall issue to the companies State bonds equal to twice the amount invested since the last application, from sources other than the proceeds of the bonds, in the following proportions :—

To the Pacific Railroad Company..

To the Hannibal and St. Joseph Railroad Company

To the North Missouri Railroad Company..

To the Iron Mountain Railroad Company

$2,000,000

1,500,000

2,000,000

1,500,000

Also prescribes the particular objects and portions of the road for which the money shall be expended.

SEC. 5. Provides a sinking fund for the redemption of the bonds.

SEC. 6. Requires the treasurer of the companies to pay the semi-annual interest to the Treasurer of the State, thirty days before the same shall become due. The Treasurer, with the advice and consent of the Governor, shall select a place in New York where the said interest shall be paid. The treasurer of each railroad company, and the Treasurer of the State, for the time being, to be Commissioners of the Sinking Fund.

SEC. 7. The Commissioners of the Sinking Fund to have control of all moneys, &c., belonging to the Sinking Fund; moneys uninvested, and all securities for the fund, to be in custody of the State Treasurer.

SEC. 8. The Commissioners of the Sinking Fund shall invest moneys on hand in bonds of the State, unless the price be such as to make it prudent to invest in other safe securities.

SEC. 9. The secretary of each company shall render, semi-annually, an account of the number of bonds sold, amount of interest maturing, when and where payable.

SEC. 10. The Commissioners shall keep a record of their proceedings; shall report to the Governor on the 1st Monday of Fabruary, annually, the amount and condition of the Sinking Fund. The record and securities subject at all times to the inspection of the Governor or of any committee of the Legislature. SEC. 11. Designates the location of the Pacific Railroad.

SEC. 12. Constitutes a Board of Public Works, three members to hold office four years, and be chosen by the qualified voters of the State; prescribes their duties. Until election can be held in 1856, the Governor shall appoint the Board. SEC. 13. Officers of the road shall not be contractors or sub-contractors. SEC. 14. County Courts may take stock in any of the railroads, the amount to be raised by taxation.

SEC. 15. County Courts may issue bonds in payment of stock, whenever a railroad company shall provide for payment of interest, not exceeding 10 per cent per annum.

SEC. 16. County Courts may subscribe overflowed or swamp lands to any railroad passing through the county, in payment of stock.

SEC. 17. Settlers on lands granted to the Pacific Railroad to have the privilege of exchanging for other lands of as good quality, or pay difference in value, or may purchase at $2 50 per acre.

SEC. 18. The Hannibal and St. Joseph Railroad, after completion, to pay into the State Treasury the proceeds of all land sales, as a Sinking Fund.

SEC. 19. The North Missouri and the Hannibal and St. Joseph Railroad Company shall adopt the gauge that now prevails in Iowa; all roads north of Missouri River shall conform to same gauge.

SEC. 20. The Pacific Railroad may mortgage its southwest branch, and all lands granted to it, to raise funds for its construction, not exceeding $10,000,000. SEC. 21. The Governor shall indorse the bonds of the Pacific Railroad for $100,000, whenever and as often as it shall be proved to him that the sum of $50,000 has been expended in the construction of the southwest branch; the bonds so guarantied shall not exceed $3,000,000.

SEC. 22. The Pacific Railroad may sell its bonds on the best terms for the construction of the southwest branch, and the proceeds shall not be applied to any other purpose.

SEC. 23. The Governor may indorse the bonds of the Pacific Railroad in advance, whenever notified that the same can be negotiated to advance in sums larger than $100,000.

SEC. 24. Materials delivered for the construction of the southwest branch shall be considered an expenditure; said materials to belong to the State until used permanently in the construction.

SEC. 25. Prescribes form of mortgage and bond for Pacific Railroad.

SEC. 26. Makes the State Treasurer the Trustee of Mortgage.

SEC. 27. Transfers loan of State credit, $1,000,000, from southwest branch to the Pacific Railroad west of Jefferson City.

SEC. 28. If the Pacific Railroad fails to complete the first division of the southwest branch in three years, or to pay interest on guarantied bonds, the lands and appurtenances of said company shall become the property of the State; and the Governor may take possession of and manage the same.

SEC. 29. This act shall not take effect until each company shall signify its acceptance within six months after its passage.

SEC. 30. Railroads shall not run trains on Sunday, except one each way for conveying mails.

The act was returned by the Governor with his objections, reconsidered, and passed by the constitutional majority-in the Senate, by a vote of ayes 20, noes 11; in the House, ayes 67, noes 49.

POSTAL DEPARTMENT.

THE LONDON POST-OFFICE.

A well-informed writer in Putnam's Magazine, describing the management of the London Post-Office, says :

[ocr errors]

Each letter goes through from ten to fourteen processes, and the wonder is, how 500 men can handle 200.000 with so little confusion and so few mistakes. A spectator is always astonished at the rapidity with which the letters are made to pass under the stamp. An active stamper will stamp and count from seven to eight thousand an hour. The process of sorting is carried on on large tables, which are divided into apartments, labeled "Great Western," "Eastern Counties," "South Eastern," "Scotch," "Irish," "Foreign," "Blind," &c. Those marked "Blind," are carried to a person called the Blind Man," who has more skill in deciphering bad writing than a Philadelphia lawyer. He will take a letter directed thus:-" Srom Predevi,” and read at once Sir Humphrey Davy; a letter superscribed "jonsmeet ne Weasal pin Tin," he sees, immediately, belongs to "John Smith, Newcastle-upon-Tyne." In short, he is such an adept at this business that it is almost impossible to write or spell so as to be unintelligible to him. The mail-bags are made of sheep-skin, soft and pliable. They are sealed up with wax upon the twine that is tied around the top. This is thought to be safer than locking, although bags that have to go a great distance are secured with locks. The average weight of the evening mail from London is about fourteen tons. The number of newspapers sent from the office yearly is estimated at 53,000,000; the average number of letters sent daily is 267,521; the average number received 2 83,225.

NAUTICAL INTELLIGENCE.

LIGHT-HOUSE ON TROUBRIDGE SHOALS,

GULF ST. VINCENT, SOUTH AUSTRALIA.

Official information has been received at this office that a bright flashing light, 80 feet above high-water mark, visible from the deck of a moderate-sized vessel at a distance of sixteen (16) miles, was exhibited on and after the evening of the 1st of February, 1856. The light-house is composed of iron, painted stone color, and is placed on the centre of the Troubridge Island, in lat. 35° 10' S., lon. 137° 50' 15" E., var. 5° E. High water, F. and C., 3.30; the flood sets E. N. E., and then N. N. E. into the gulf. Vessels bound through Investigator's Straits into the Gulf St. Vincent, should make the light bearing N. E. N. by compass, and steer N. E. by E. E. to pass it at a distance of seven miles; having brought it to bear W. by N. N. about eight miles, a course of N. E. by N. may be kept for the light-ship off Port Adelaide, which bears N. E. E. 364 miles from the centre of the island. Vessels from the westward and southward should not approach the light within a less distance than four miles, where they will find soundings of 14 fathoms. The flood tide, during westerly gales and at the springs, runs with considerable velocity-setting rather on the shoal until the gulf is open. Vessels bound down the gulf from the port, meeting with westerly gales, will find excellent anchorage under the lee of Troubridge Island, with the light bearing S. W., distant 14 miles, in eight fathoms, on a clean sandy bottom. By order of the Light-house Board,

TREASURY DEPARTMENT, OFFICE LIGHT-HOUSE
BOARD, WASHINGTON, March 23, 1856.

THORNTON A. JENKINS, Secretary.

GUNFLEET LIGHT, EAST SWIN.

ENGLAND-ENTRANCE TO THAMES.

The Corporation of the Trinity House of London has given notice, that the pile lighthouse recently erected near the south-eastern edge of the Gunfleet sand, off the coast of Essex, in the East Swin, near the entrance of the Thames, being now complete, a revolving light, colored red, will be established therein on and after the evening of the 1st day of May next, showing a red face every half minute. It is placed at a height of 48 feet above the mean level of the sea, and should be visible from the deck of a ship, in the ordinary state of the weather, at a distance of from 7 to 8 miles. The lighthouse is a six-sided structure of iron, supported upon piles, which are braced together diagonally. The whole is colored red. It stands with the following bearings:-Clackton Church, N. W. W., Walton Naze Tower, N. E.. Harwich High Lighthouse, N. by E., Sunk Light vessel, E. S. 44 miles. On the same day the lights at present shown on board the Gunfleet light vessel will be discontinued, her mast-head balls struck, and the vessel will shortly be removed. Also the beacon which stands a little to the westward of the new lighthouse will be taken away. Masters of vessels, pilots, and other mariners are strictly cautioned not to approach the lighthouse nearer than a quarter of a mile, nor under any circumstances to attempt to pass to the northward of it. All bearings Magnetic. Var. 21° 15′ W., in 1856; decreasing 6' annually.

By Command of their Lordships,

JOHN WASHINGTON, Hydrographer.

HYDROGRAPHIC OFFICE, ADMIRALTY, LONDON, 17th April, 1856,

This notice affects the following Admiralty Charts :-English Channel, Sheet 1, No. 1,598; Approaches to Harwich, No. 2,052; North Sea General and Sheet 1, Nos. 2,339, 1,406; England, East Coast, Sheet 2, No. 1,610; Thames, Sheet 1, No. 1,975; also British Lights List, (ed. 1,856,) No. 69.

« ПредыдущаяПродолжить »