Depositary at Buffalo, New York.. UNITED STATES TREASURER'S STATEMENT, APRIL 1851. Treasury of United States, Washington... Drafts heretofore drawn but not yet paid, though payable. $12,752 82 80,594 78 2,008,059 59 349,345 78 3,552,800 38 307,591 65 14,954 52 292,637 13 337,337 72 11,773 46 325,564 26 404,694 08 169,720 01 234,974 07 121,316 49 53,995 67 67,320 82 5,894 04 1,687 86 4,206 18 Depositary at Baltimore, Maryland.. 69,081 96 8,090 50 60,991 46 Depositary at Richmond, Virginia.... 6,657 12 514 71 6,142 41 Depositary at Norfolk, Virginia... 7,806 20 6,550 40 1,255 80 Depositary at Wilmington, North Carolina. 5,724 74 4,119 03 1,605 71 Depositary at Savannah, Georgia... 72,273 04 4,091 36 68,181 68 Depositary at Mobile, Alabama.. 108,854 36 60,885 72 47,968 63 Depositary at Nashville, Tennessee 20,948 62 4,246 37 16,702 25 Depositary at Cincinnati, Ohio... 64,856 46 6,951 93 53,904 53 Depositary at Pittsburg, Pennsylvania. 1,826 77 1,294 83 531 94 Depositary at Cincinnati, (late)... 3,301 37 8,301 37 Depositary at Little Rock, Arkansas. 34,064 53 Depositary at Jeffersonville, Indiana. 105,948 07 3,507 37 102,440 70 Depositary at Chicago, Illinois........ 10,743 06 1,223 33 9,519 72 3,984 93 3,887 45 3,492 88 75 00 97 48 3,417 88 1,100,000 00 Depositary at Detroit, Michigan 32,000 00 1,100,000 00 26,850.00 15,663,273 32 810,601 30 14,855,308 76 ... Transfers ordered to Treasury of the United States, Washington. Total.... 2,636 74 RECEIPTS AND EXPENCES OF FRANCE FROM 1814 TO 1848. The subjoined table of the receipts and expenditures of France under the monarchies of Louis XVIII., Charles X., and Louis Philippe, a period of thirty-five years, is "worth a Vatican library of comment." Louis XVIII. ascended the throne May 3d, 1814, and died September 16, 1824, when Charles X, became the monarch, and was deposed and retired to Rambouillet July 30, 1830; Louis Philippe was declared king of the French August 9, 1830, and "quietly retired" from the cares of the kingdom amid the Revolution of 1848. The table is divided into two periods, embracing from 1814 to 1829-the reigns of Louis XVIII. and Charles X.-and from 1830 to 1848VOL. XXIV.NO. VI. 47 that of Louis Philippe. The excess of expenditures in the period of sixteen years that is, under the two first-named monarchs-amounted, as appears from this table, to 1,568,472,041 francs, or about $313,7000,000. The excess of expenditures in nineteen years, under Louis Philippe, amounted to 3,052,325,976 francs-in round numbers more than $900,000,000. Excess of expenditures in thirty-five years, 4,620,799,017 francs! The monarchical party went under Louis Philippe and his predecessors by the name of Les Capables. The above figures certainly exhibit their capability most efficiently BOOKS ON FINANCE AND BANKING. Several additions have been recently made to our banking literature. In this depart ment we have long felt the want of good practical works, adapted to the use of the scholar as well as the business man. These deficiencies are in some measure supplied by the following volumes, all of which are issued in handsome style. I. GILBART'S PRACTICAL TREATISE ON BANKING-FROM THE FIFTH LONDON EDITION 8vo., pp. 458. G. P. PUTNAM: NEW YORK. But little need be added in commendation of this valuable work. It has received the highest praise from the press both of this country and Europe. It is an able view of the banking system of Great Britain, and combines a vast amount of valuable details in reference to the Banks of Scotland Ireland, and England, with copious historical and statistical tables. It is accompanied by an elaborate alphabetical index; a useful part of every good book. II. THE BANKERS' COMMON PLACE BOOK. 12mo., pp. 137. PHILIPS, SAMPSON & Co. BOSTON. This work opens with Mr. A. B. Johnson's "Treatise on Banking, the Duties a Banker and his Personal Requisites therefor;" followed by Mr. Gilbart's "Ten Minute Advice to Bankers;' Observations on Bills of Exchange," by J. B. Byles and J. B McCulloch; "Forms of Bills of Exchange," in eight European languages; "Forms Notice of Protest;' 39 66 Synopsis of the Massachusetts Bank Laws, and Decisions of the Courts." Our banking friends, as well as the commercial public, will welcome the volume as an interesting summary of such banking information as is necessary to the business man, the capitalist, and the money dealer. III. ESSAYS ON EXCHANGE, INTEREST, MONEY, AND OTHER SUBJECTS. BY J. McCULLOCH, ESQ., AUTHOR OF THE "DICTIONARY OF COMMERCE," &c. YORK: G. P. PUTNAM. This is the first American edition of the valuable articles from 8vo., pp. 44. NEW the pen of Mr. McColloch, as contributed for the "Encyclopedia Britannica." They have not appeared in England in a seperate form. The Edinburgh Review says of this essay:-" It is a work with which not only every statesman and legislator, but every reflecting member of the community, ought to make himself acquainted; and we can have no hesitation, therefore, in saying that Mr. McCulloch has, by the thought and labor he has devoted to its composition, added another strong claim to those he had before established upon the gratitude of his countrymen." The American publisher has added new heads to the chapters, and a useful index to each essay. IV. CHRONICLES AND CHARACTERS OF THE STOCK EXCHANGE. AUTHOR OF THE 46 'HISTORY OF THE BANK OF ENGLAND;" FIRST AMERICAN EDITION: BY JOHN FRANCIS, TO WHICH ARE ADDED, STOCK TABLES, FROM 1732 TO 1846,-DIVIDENDS ON BANK OF ENGLAND STOCK, FROM 1694 To 1847, &c. 8vo., pp. 164. NEW YORK: G. P. PUTNAM. This volume is dedicated to Samuel Gurney, banker, of London-the greatest billbroker in the world. It contains curious notices of loans, lotteries, Rothschild, Goldsmith, Baring, Ricardo, Baily, Hume, &c. There is no more interesting record of the extraordinary frauds of the Stock Exchange. It is as entertaining as a novel. V. THE BANKERS' ALMANAC, FOR 1851; containing 150 octavo pages of statistical details of American and Foreign Banking; American and British debt, revenue, public funds, &c. It is one of the most valuable works extant upon these topics. VI. THE BANKERS' MAGAZINE AND STATISTICAL REGISTER. HOMANS: BOSTON. The April number of this work contains two essential documents MONTHLY. J. SMITH for lawyers, bankers, merchants, and chartered institutions, viz. :-1. The Usury Laws of every State in the Union; penalties for violation thereof; Damages on Inland Bills; Damages on Foreign Bills of Exchange; Grace on Sight Bills. 2. Gilbart's Treatise on Banking; with copious statistical tables, &c. FINANCE, TAXATION AND INCORPORATIONS IN OHIO. The Constitutional Convention of Ohio concluded their labors on the 10th of March 1851, by the adoption of a new constitution for the State. We give below the articles, and sections of that constitution, which relate to Finance, Taxation and Incorporations. ARTICLE XII.-FINANCE AND TAXATION. SEC. 1. The levying of taxes by the poll is grievous and oppressive; therefore, the General Assembly shall never levy a poll tax for County or State purposes. SEC. 2. Laws shall be passed, taxing by a uniform rule, all moneys, credits, investments in bonds, stock, joint stock companies, or otherwise; and also, all real and personal property, according to its true value in money; but burying grounds, public school houses, houses used exclusively for worship, institutions of purely public charity, public property used exclusively for any public purpose, and personal property to an amount not exceeding in value two hundred dollars for each individual, may by general laws be exempted from taxation; but all such laws shall be subject to alteration or repeal, and the value of all property so exempted shall, from time to time, be ascertained, and published as may be directed by law. SEC. 3. The General Assembly shall provide, by law, for taxing the notes and bills discounted or purchased, moneys loaned, and all other property, effects or dues of every description, (without deduction,) of all banks now existing or hereafter created, and of all bankers; so that all property employed in banking shall always bear a burden of taxation equal to that imposed on the property of individuals. SEC. 4. The General Assembly shall provide for raising revenue sufficient to defray the expenses of the State for each year, and also a sufficient sum to pay the interest on the State debt. SEC. 5. No tax shall be levied except in pursuance of law and every law imposing a tax, shall state distinctly the object of the same, to which only it shall be applied. SEC. 6. The State shall never contract any debt for purposes of internal improvement. ARTICLE XIII.-INCORPORATION. SEO. 1. The General Assembly shall pass no special act conferring corporate powers SEC. 2. Corporations may be formed under general laws, but all such laws may from time to time, be altered or repealed. SEC. 3. Dues from incorporations shall be secured by such individual liability of the stockholders, and other means, as may be prescribed by law; but in all cases each stockholder shall be liable over and above the stock by him or her owned, and any amount unpaid thereon, to a farther sum, at least equal in amount to such stock. SEC. 4. The property of corporations now existing, or hereafter created, shall forever be subject to taxation, the same as the property of individuals. SEC. 5. No right of way shall be appropriated to the use of any corporation, unt full compensation therefor be first made in money, or first secured by a deposit of mo ney, to the owner, irrespective of any benefit from any improvement proposed by such corporation, which compensation shall be ascertained by a jury of twelve men in a court of record, as shall be prescribed by law. SEC. 6. The General Assembly shall provide for the organization of cities and incor porated villages by general laws, and restrict their power of taxation, assessment, bor rowing money, contracting debts, and loaning their credits, so as to prevent the abuse of such power. SEC. 7. No act of the General Assembly, authorizing associations with banking pow ers, shall take effect until it shall be submitted to the people at the general electio next succeeding the passage thereof, and be approved by a majority of all the electors voting at such election. THE UNITED STATES BRANCH MINT AT DAHLONEGA. We are indebted to an intelligent correspondent of the Charleston News, for the subjoined account of the operations of the Branch Mint of the United States & Dahlonega. The writer visited the mint in person, and the most implicit confidence may be placed in the accuracy of his statements. In transferring the subject matter of the letter to the pages of the Merchants' Magazine, we have taken the liberty of making a few verbal alterations, at the same time retaining not only the substance. but the language, of the writer almost verbatim et literatim. In the laboratory the correspondent of the News witnessed the decomposition of lot of California gold, which contained a quantity of silver. By this process the what was converted into a fluid in a large glass vessel, and by pouring in certain acids, i which the silver had an affinity, is collected like flakes of curded milk, and falls to the bottom. The liquid then being canted off, another acid was applied, and the gold in turn precipitated. In this way the separation was complete, and both metals, placed in the scales together, after being dried, had their original joint weight, saving a very small fraction. Dr. Stephenson, formerly of Virginia, presides in the Assayer's Department, with eminent skill and satisfaction. His labors are nice and beautiful. The superintendent acts as treasurer to the mint, and is also commissioned a subtreasurer of the United States. It is his duty to purchase and pay for all the goli bullion presented. He receives and disburses all moneys, is the chief officer, and & rects all the operations of the mint. The coiner performs the duties of both melter and refiner. He receives the geli from the treasurer, and prepares it of suitable firmness to make coin. To possess this quality, it must contain not less than 898 parts in the thousand, nor more than 90 parts of pure gold. It is then delivered to the coiner, who proceeds to have the same made into coin. The half-eagle must weigh 129 grains, the quarter-eagle 644 grains, and the gold dollar 24 4-5 grains. A variation of one-quarter of a grain is allowed in each piece from these standards; but the piece must be so arranged, that in one thot sand half-eagles they must not exceed a variation of thirty-six grains. In one theo sand quarter-eagles a variation of twenty-four grains is allowed; and in one thousand gold dollars, twelve grains. The bullion undergoes thirteen operations to get it inte coin. Where deposits of bullion are made, the assayer cuts a small piece from each lot, after being mixed by the melter, and puts it into a delicate scale, adjusted to one thousand milligrams, (about fifteen grains,) to which is added twice the weight of pure silver. The silver and gold, being put together, are placed in a capsule of pure lead, weighing three thousand milligrams. The whole is then placed in bone-ash cups, in a muffled furnace heated to whiteness. These bone ash cups (phosphate of lime) possess the quality of receiving the oxidable metals. (With the exception of platina, gold, and silver, all metals, it is said, will oxidise if properly promoted.) It requires from ten to fifteen minutes for this process-that is to carry out of the gold all the metals it possessed, silver excepted; so that, when it is taken out of this furnace, nothing remains in the gold except the silver it contained originally, and that which was added to it. It is then rolled down, and annealed to a very thin strip, and adjusted in boiling nitric acid, which has been diluted with distilled, or rain water, to 24° (Hydrometer.) After being boiled ten minutes, this acid is poured off, and a drachm of pure nitric acid added, and when this has been boiled ten minutes, and repeated the third time with pure acid, it is then washed in warm water, and from this bath it is put into an annealing crucible, carried to the furnace, and heated to a red heat. This shrinks the cornet of gold, and hardens it, until it may be handled with the pliers, and also drives off all acid and moisture. It is then returned to the scale, and reweighed, and its loss noted; that is, it having weigned 1,000 at the beginning, it now weighs say 950; it therefore contained 50 milligrams of base metal in each 1,000; and the assayer reports to the treasurer that it is 950-1000 fine. By this data the treasurer then proceeds to ascertain the number of pure ounces and parts of ounces contained in the original mass, ard weight, or what the coin will weigh when alloyed, rolled, and stamped. After He then adds the alloy to the pure parts, and arrives at the standthis he finds the value of gold by the rationale of forty-three ounces of standard gold being equal to eight hundred dollars; which is the first even count of ounces and dollars, from the unit up. The whole expense of building and supporting the mint is borne by the Government, in order to preserve a sound and uniform currency for the people. Not a cent is charged depositors for coining their bullion. The whole amount coined at the Dahlonega mint since its establishment in 1837, to 1st January, 1851, has been three million nine hundred and ninety-five thousand dollars, on which the expense has been about three and a half per cent. No silver coin is made at this mint. The coinage has been $250,000 for the last two years each. The receipts of bullion in the months of January and February, 1851, have exceeded the same months in 1850 by $15,000. With its present force and machinery, the mint can coin $3,000,000 per annum, or $10,000 per day. The assayer has one assistant, detailed from the laborers. The coiner has three-his melter and two assistant coiners. The fifth man is the machinist, whose duty it is to keep the machinery in order, to mend the breakage, and to fit up the dies. The clerk assists the superintendent, keeps the books, &c. Depositors coming to the mint will seldom be detained more than one day, and never more than four days. The present officers are, A. W. Redding, superintendent and treasurer; Robert H. Moore, coiner; Matthew F. Stevenson, assayer; Henry B. Williams, clerk; William Rhodes, machinist; F. D. Boortfield, J. E. Howell, Wm. G. Lawrence, and William Warwick, laborers. Both officers and subordinates work hard. Like a steamship in port after a voyage, there is plenty of fixing up to be done all the time. Honor to the men who execute the trust faithfully. There has never been a defalcation in the Dahlonega Mint. Before the present officers came in, the superintendents have successively been Dr. Joseph J. Singleton, Paul Rosingnole, and James A. Cooper. Coiners, David H. Mason and John D. Field; and the assayers, Joseph W. Farnum and Isaac L. Tood. THE CROWN JEWELS OF ENGLAND. Prof. Tennant concluded his recent lecture on gems and precious stones with observations upon the Crown jewels. He feared that some of the diamonds in the older crowns were nothing but paste or glass. One large stone, said to be a spinelle ruby, was nothing, he believed, but a garnet; and the " large sea diamond," pointed out ostentatateously by the guide, in the gold saltcellar, as being worth £100, was probably not worth 100s. The jewels in her Majesty's crown were all genuine, as any one might see, by their brilliance in the sunshine, who visited the jewel-room at three or four o'clock on a summer's afternoon. The contrast then between this crown and the others was most remarkable. |