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We gave

Garnet Mining Company, has been incorporated by the Legislature of Virginia

, and are now making arrangements to prosecute the enterprise on a more ex. tended scale.

in our last, a statement showing an important decline in the imports of foreign goods at New York for January, as compared with the corresponding period of 1851. We now annex a similar comparison for February, by which it will be seen that the falling off continued throughout the month. This falling off is inost noticeable in the goods received at the port, as the withdrawals from bond, owing to the decreased receipts, have been larger than usual; we present a summary of both :

Entered direct. Ent'd wareh'e. Free goods.

Bpecie. Total. 1852

$7,024,952 $1,003,383 $1,110,949 $110,293 $9,249,617 1851

9,442,007 1,240,329 1,208,036 164,031 12,054,403 Decrease.. $2,417,055 $236,946 $97,087 $53,788 $2,804,826

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bett 1831,

Decrease in amount thrown on the market....

$1,678,321 Here we have, exclusive of specie, a falling off in the value of goods received at the port of $2,751,088; but owing to a less stock left in bond, the decline in the value thrown on the market, is only $1,624,583, or including specie

, $1,678,321. This makes a total decline in the value of goods entered at the port of New York for two months, as compared with the first two months of 1851, of $7,101,742, exclusive of specie. The falling off in the amount thrown upon

the market for the same time is $5,184,578. The decline in the actual receipts, as shown above, is equal to over 25 per cent on the whole import. There is no probability that this ratio of decrease will continue throughout the year. The month of March may even show a slight increase over March, 1851, but there can be no doubt but what the decrease for the year will amount to 10 per cent of the gross receipts for the previous year. It will be interesting, in this connection, to inquire what portion of the decreased receipts were dry goods; and it will be seen from the annexed comparison that the value of this description of merchandise entered for February is less by $1,878,796 than for Feb. 1851, showing a decline of 27 per cent. The amount thrown upon the mar. ket, however, only exhibits a decline of $1,090,297, the stock in bond being drawn upon more liberally. We extend the comparison back to 1850. IMPORTS OF DRY GOODS AT NEW YORK, FROM FOREIGN PORTS, DURING THE MONTH OF

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Total .....

$175,816 $545,107 $360,647 Add entered for consumption

5,190,273 6,456,994 4,762,658 Total entered at the port..... $5,366,089 $7,002,101 $5,123,305 The total falling off in the receipts of dry goods entered at New York for the months of January and February, as compared with the corresponding period of 1851, is $3,323,984; the decrease being divided about equally among the various classes of fabrics. This will be fully shown in the following state. ment:


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The exports have largely increased throughout the country, since the 1st of February, although for the month of January they showed a decline as compiired with last year. For the month of February the shipments of domestic produce from the port of New York, exclusive of specie, have increased $767,157, being more than enough to balance the decline for the previous month ; the increase in the exports of foreign produce is $59,704, making a total increase in exports, besides specie, of $826,864, as will be seen by the following comparison :



Domestic Foreign Foreign



Total. 1852...

$3,352,943 $322,272 $93,932 $3,551,541 $7,320,690 1851..

2,585,786 295,567 60,930 1,007,689 3,949,972

2,607,584 302,258 54,475 278,708 3,243,025 The following will show the exports from New York to foreign ports from January 1st to March 19:1851. 1852.

1851. 1833. Ashes-Pots.... bbls. 4,672 2,735 Naval stores.....bbls. 45,261 86,625 Pearls

881 156 Oil — Whale.....gals. 263,267 14,131 Beeswax .........lbs. 75,626 67,669 Sperm.

192,501 62,168 Breadstuffs


155,373 15,180 Wheat flour...bbls. 104,593 167,058

4,607 Rye flour.

153 1,021 ProvisionsCorn meal..... 5,909 7,510 Pork ..

.bbls. 7,123 7,596 Wheat.. .. bush. 52,664 243,531 Beef.

5,492 10.085 Rye..

3,003 Cut meats.. .lbs. 1,279,554 788,578 Oats

1,242 Butter.

806,168 164,609 Barley..

294 Cheese

1,431,921 292,709 Corn. 86,901 147,566 Lard..

408,700 471,503 Candles-Mould...bxs. 9,282 12,102 Rice.

.tcs. 9,131 11,788 Sperm .....


430 Tallow.... ...lbs. 802,937 247,895 Coal.....

tons. 410 8,066 Tobacco--Crude.pkgs. 4,357 5,836 Cotton ..bales 67,693 103,398

Manu'd . lbs. 662,279 669,476 Hay.

1,848 Whalebone ..

163,519 62,162 Hops


Linseed ...

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From this it will be seen that there has been a large increase in the exports of breadstuffs since January 1st, both in flour, wheat, and corn. This increase has not been confined to the Port of New York, but at the Southern ports large quantities have also been shipped. The foreign market is hardly as firm for our cereals as at the date of our last. But the decline in price seems to have been owing more to our abundance than to any falling off in the foreign consumption. All who view the subject impartially are satisfied that high prices could not be maintained after our inland navigation should have been resumed, and it is thus far better that the rate should be fixed at a price less liable to fluctuation, before the supply has left the hands of the producer. Besides, the interior is full of flour and grain, and we can only find a market for it by stimulating the consumption. This can only be done by furnishing it at a moderate price. If we can throw our surplus upon the European markets and secure an increase i demand, even at a low price, it will sweep off the accumulation of the previc us large crops, and give a hope of better prices hereafter.



We have compiled, from official returns, the following statement of the deposits and coinage at the United States Mint, and branches, from their organization down to the close of 1851, which will be found very useful for reference, and contains many items of present interest:

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Silver Copper.

Total. Philadelphia Mint for 1861..... $52,143,446 $446,797 $99,635 $52,689,878 Do. from organization.. 143,370,503 64,947,609 1,395,836 209,713,948 New Orleans Mint for 1851.. 9,795,000 327,600

10,122,600 Do. from Organization 29,415,885 13,014,800

42,430,665 Charlotte Mint for 1851. 324,454

324,454 Do. from organization... 3,053,934

3,053,934 Dahlonega Mint for 1851. 35..592

351,592 Do. from organization... 4,343,995

4,343,995 Total from organization.... $180,184,297 $77,962,409 $1,395,836 $259,642,542


The following summary statement of the debt and annual interest of the State of Obio, on the 1st of January, 1852, is derived from an official source :


Interest. 5 per cents, due 1857...,

$150,000 00 $7,500 00 5 1856.

1,025,000 00

51,250 00 6 1857.

3,365,789 24 201,946 75 6 1861.

6,812,481 00 408,748 86 6 1871.

2,183,531 93 131,011 92 1876.

1,600,000 00

96,000 00


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Total foreign debts.
Domestic debts

$10,136,792 17

448,101 71

$896,457 53

26,886 10


$15,584,893 88 $923,348 63 This forms the total redeemable debt, and is exclusive of school and other trust fund. VOL. XXVIII.NO. IV.


STATISTICS OF BANKING IN THE STATE OF NEW YORK. We are indebted to D. B. Sr. Joux, Esq., the Superintendent of the Banking Department, for an official copy of the first annual report from that Department, (since its organization) as required by Chapter 164, Laws of 1851.* It presents a clear and comprehensive view of all the banks, banking associations, and individual bankers from which reports have been received. The substance of this report we have embodied in a condensed form on the present and subsequent pages of the Merchants' Magazine :

The whole number of banks, banking associations, and individual bankers doing business on the first day of December, 1851, is two hundred and forty-four, as follows:Chartered banks, 72; banking associations, 95; individual bankers, 77; total, 244.

Since the date of the last report by the Controller, the charters of two banks have expired; their aggregate capital was $509,600, namely, the New York State Bark, 369,600; Bank of Newburg, $140,000. A majority of the stockholders of both these institutions have formed associations under the provisions of chapter 313, Laws of 1849. During the year, 37 banking associations and individual bankers have deposited the securities required by law, and commenced the business of banking, namely

ASSOCIATIONS. Citizens' Bank, New York.

Metropolitan Bank, New York. Chatham Bank, New York.

Bank of Malone, Malone. Far's' B'k, Saratoga, Co., Half

Moon Vilge. Bank of the Metropolis, New York Bank of Fort Edward, Fort Edward. New York Exchange Bank, New York Genesee Valley Bank, Genesee.

New York State Bank, Albany. Grocers' Bank, New York.

Bank of Newburg, Newburg. Goshen Bank, Orange Co., Goshen.

Bank of North America, New York. Glens Falls Bank, Glens Falls.

Pacific Bank, New York. Hanover Bank, New York.

People's Bank, New York. Irving Bank, New York.

Rome Exchange Bank, Rome. Knickerbocker Bank, New York.

Bank of the Republic, New York. Merchants’ Bavk in Syracuse, Syracuse. Union Bank of Sullivan Co., Monticello. Mechanics’ Bank of Syracuse, Syracuse. Union Bank of Troy, Troy.

The amount and character of the securities deposited by the 26 banking associations above pamed, is as follows, namely :New York State stocks.....

$1,382,319 89 United States stocks ....

913,000 00 Canal revenue certificates

109,500 00 Bonds and mortgages.

290,424 00 Total......

$2,695,243 89 Circulation issued on the above securities...

2,247,243 00


Commercial Bank of Clyde, Clyde. Mechanics' B'k of Watertown, Watertown. Bank of Chemung, Elmira.

New York Bank of Saratoga Co., Hadley. Dunkirk Bank, Dunkirk.

New York Traders' Bank of Washington Excelsior Bank, Meridian, Cayuga Co. Co., North Granville. Bank of Havana, Havana.

Oneida Valley Bank, Oneida. Lumberman’s Bank, Wilmurt, Herki'r Co. Valley Bank of Lowville, Lowville.

The amount and character of the securities deposited by the eleven individual banks above named is as follows, namely:New York State stocks...

$231,494 United States stocks..

153,300 Canal revenue certificates

155,000 Bonds and mortgages..

75,197 Total...

$614,991 Circulation issued on the above securities .

554,008 The following statement shows the state and condition of all the banks, banking associations, and individual bankers, from which reports have been received during the past year, on the several days designated by the Superintendent for making their quarterly reports :

• Prior to 1851 the Banking Department was managed by the Controller.

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