GENERAL BANKING LAW IN MINNESOTA.

The provisions of the General Banking Law of Minnesota are similar to those of many of the other States. The law authorizes the Governor to appoint a Bank Controller, who is to have charge of the securities, issue the circulation, etc. Any person or association may commence banking under this law, with a capital of not less than $25,000. The notes are to be countersigned by the Bank Controller, the bank assigning in trust to the State as security therefor United States or State stocks, producing an average of at least six per cent interest, on which the Controller is to issue to the bank circulating notes to the amount of 90 per cent of the current value of the stock (so deposited) in New York at the time of deposit; and in the event of a depreciation of 10 per cent, the bank to make up the deficiency by depositing additional stock.

The banks are required to keep in their vaults specie equal to one-fifth of their circulating notes; to make quarterly statements of their affairs to the Controller, who shall cause the same to be published.

A Bank Commissioner, in company with the Bank Controller, must personally examine the books and vaults of all the banks in the State at least four times in each year.

If a bank fails to redeem its notes in specie on presentation, the bill-holder may have the same protested, in packages, at the expense of the bank, and the Controller is directed, at the expiration of forty days, to close up the bank, sell the securities forthwith, and redeem the notes.

The law prohibits all banking except under this act.

PHILADELPHIA BANKS-DIVIDENDS.

All the Philadelphia banks have declared dividends for May, except the Girard Bank, which omits this half-year, and the North America, which usually declares in January and July: :

The following is the recapitulation of the condition of all the banks in the State, on Saturday afternoon preceding the first Mondays of April and May, 1858:

The circulation of these banks has decreased from March, $1,177,000, or a fourth, and the deposits $1,060,000, or a third, while the specie has increased.

BANK LAW OF VIRGINIA.

The following is a copy of the law which is to go into operation in Virginia in April, 1859

1. Be it enacted by the General Assembly, That it shall be the duty of every branch of a bank, which is now or may hereafter be authorized by law, in addition to the redemption now required at such branch, to receive on demand all circulating notes issued or payable by such branch, which may be presented for payment at the parent bank of such branch, at a rate of discount not exceeding of 1 per cent; and for failure to redeem the same, the holder thereof may recover the same damages, and in the same mode now provided by law, for failure to pay in specie at the office or bank where payable; provided, that the other branches of the Exchange Bank of Virginia shall redeem at the branch thereof, established in the city of Richmond, on like terms.

2. Every independent bank, which is now or may hereafter be authorized by law, shall establish an agency for the redemption of its circulating notes in the city of Richmond, or in Baltimore, in the State of Maryland, in addition to the redemption now required by law. The location of such agency shall be certified by the president of the bank to the Governor of Virginia, with each quarterly report of the bank, and shall be published with the same. For failure to establish and report the agency, the bank shall forfeit to the Commonwealth one hundred dollars for the first offence, and five hundred dollars for each separate violation of the law thereafter.

3. It shall be the duty of the bank, in addition to the redemption now required by law, to redeem on demand all circulating notes issued by such bank, or payable by the same, which may be presented for payment at the agency thereof, at a rate of discount not exceeding of 1 per cent; and for failure to redeem the same, the holder thereof may recover the same damage, and in the same mode now provided by law for failure to pay in specie at the bank where payable.

4. Whenever the notes of any bank shall be presented for redemption at the bank where they are payable, such bank or branch may redeem the same by a specie draft at par for the amount upon the banker or agent in Richmond or Baltimore, where it has made provision for the redemption of its notes; provided the aggregate amount of the notes so presented and held by the same person shall exceed the sum of five hundred dollars; and the person refusing to accept such draft in redemption of the notes held by him, shall not be entitled to proceed against such bank under the section of the chapter of the Code, or under

* Those marked with a* are specie-paying.

the provisions in the charters of the stock banks requiring the Treasurer of the State to sell the securities held by such bank.

5. No bank or branch thereof shall give any certificate of deposit, draft, or other evidence of debt, which is not payable in specie.

6. No bank or branch thereof shall pay out bills or notes of any other bank or branch, except such as it will receive at par, in payment of debts due the bank.

7. No bank shall directly or indirectly loan its bills or notes for circulation to any person, persons, or corporation, under any agreement or understanding that such persons or corporation shall protect or guaranty the circulation of such or any other bills or notes issued by the bank, or redeem the same when presented for payment.

8. This act shall take effect on and after 1st April, 1859.

STATISTICS OF TRADE AND COMMERCE.

STATISTICS OF OHIO.

EDWARD D. MANSFIELD, ESQ., was appointed Commissioner of Statistics for the State of Ohio, by the law of April 17th, 1817. The following is the summary of his first annual report, and it appears to have been executed with great judgment and care. He has presented also a plan for the organization of a permanent bureau of statistics, which it would be well if all the States were to follow. It is the only mode by which the statistics of the whole country can be reliably condensed :-

Surface, (including the Lake.)

Land surface, as stated by the United States Land-office..

Land in acres.

42,500

I. SERIES-PHYSICS.

....square miles

SERIES--AGRICULTURE,

Population of thirty cities and towns in 1857..

Population of the same in 1850...

Increase

The population and nativities have been calculated from several ratios, furnished by the United States Census and the State Auditor's Report.

Aggregate value of agricultural products.....

Cost value of lands......

Cost (annual) of farming, including fences, roads, and taxes..

Net profits....

Rate of net income

The following compilation will show the exports of wheat and flour from Canada in 1856 and 1857, according to the trade and navigation returns :—

Mortgage debt..

8,673,298

Judgment debt..

$77,096,452

55,000,000

DRY GOODS TRADE OF BOSTON AND VICINITY.

A very large proportion of the stocks of goods on hand is composed of goods left over from last year's importations-the value of those imported since October last having fallen off nearly 70 per cent when compared with the imports of the corresponding time of the previous year, as will be seen by the annexed