redemption-relieving the public from the more grievous exactions of paying an extreme discount, as is often the case on a large proportion of these issues, forced into circulation by the discreditable agency we have pointed out. This arrangement, if of general adoption, would speedily determine the par of exchange between the great commercial cities of the seaboard, and every part of the interior states, and prevent the fluctuations that so often interfere with the trading business of the country. It is by some such mode of conducting the banking system of the provincial towns in England, that the commercial dealings of its people are so materially -assisted; but which America, notwithstanding her rapid advances in general improvement and civilization, still stands in need of. Whenever a bank is established in any of the provincial towns, or cities of the old country, a London agency is immediately appointed as a necessary part of its arrangement, and the bank forthwith commences to issue its bills on London in exchange for cash, payable at some certain number of days after date, varying from ten to twenty-one, according to its distance from the metropolis. It also purchases bills on London, and is not even confined to this, but discounts bills of exchange on any other place in England, or Scotland, and is in every sense, what the Americans > would call " a dealer, or dealers in the domestic exchanges of the country." The difficulties-the uncertainties incidental to the transmission of money, to any, even a limited distance in the United States,

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would in a great measure be obviated by an arrangement of this kind, while the extraordinary fluctuations in the exchanges, so remarkable throughout every part of the Republic, and often brought about by undue means, would in great part be put an end to. The Scotch banks manage these matters with even more precision, and charge according to one general table, which regulates the par of exchange between every town and city throughout the country, and the city of Edinburgh.

The present system of foreign exchanges is also subject to very considerable uncertainty and inconvenience. According to the present mode, whenever the exchanges are against America, the parties requiring to make remittances to England, or to any other part of Europe, independent of private accommodation, are compelled to seek gold from the banks in exchange for their notes, for the purpose of transmission. This often creates embarrassment with the banks, that in consequence, are frequently compelled to restrict their issues, beyond what the necessities of trade, under a better and more wholesome organization would require. This difficulty might, nevertheless, be as easily guarded against by the banks in the larger commercial cities, forwarding a portion of their funds to England, or establishing a credit account in London, and against which they could draw bills, in facilitating the transmission of money, without the necessity of transporting the precious metals on every sudden emergency or depression of the exchanges. The

same fluctuations were incidental to the Irish exchanges, until so late a date as 1836, when the Bank of Ireland first assumed the practice of giving bills on London at twenty-one days after date for cash. The only inconvenience to be apprehended or provided against on the adoption of a similar system in the United States, is that which might arise from the encouraging field-the facilities thus opened to the gambling and jobbing propensities of the American banks, of which it is to be apprehended they would, to the very uttermost, take advantage.

The quantity of bullion annually converted into United States money, is of comparatively trifling amount, though, perhaps, sufficient to provide for the necessities of the country, under its present monetary arrangement. Besides the principal United States mint at Philadelphia, there are three other, or branch mints located in the southern States; one at Charlotte, in North Carolina, another at Dahlonega, in Georgia, and the third at New Orleans, in Louisiana; all under the control and supervision of the General Government; their united operations being scarcely more than would give reasonable employment to any one of the four.

The whole coinage of the United States, including the coinage of the branch mints, from the commencement of their working in 1838, for the five years ending 1842, averaged in each year, in value 3,528,143 dollars, which increased in 1843, to 11,967,830.

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But there are no circumstances connected with the domestic or internal arrangements of the country, so immediately calculated to promote its advancement or general prosperity, as the facilities given to trade and commerce, in the several modes of intercommunication already made and in progress, and to which the Federal Government has given its utmost aid, in the establishment of post offices and direct mail routes throughout every intersection of the Republic-surmounting difficulties of the most arduous kind, and that could only be found to exist in a young and newly settled country, such as the United States. It cannot be expected, that these arrangements are carried out in the improvements of our English post office establishment, or even in those of the generality of European countries. Still are they beyond the utmost that the most ardent expectation could have realised, from the known difficulties to be overcome, not merely in the extent and unimproved nature of the country to be traversed by mail conveyance, but from the inadequate control possessed by this department over its subordinates, who being scattered over a large extent of country, are in part removed from immediate official observance or interference; as also, from the general inexperience of those employed, and their consequent inefficiency, occasioned by the frequent changes made in this branch of the public service, to suit the political complexion and designs of each succeeding administration; besides the

inanity and proverbial indolence pervading most of the public departments under the present, or federal organization, where the responsibilities are so much divided-so very uncertain and undefined, that they can scarcely be said to concern any person, or any where to exist.

The number of post offices in the United States in 1790, was but 75; the number in 1839, was 12,780; in 1840, 13,468; shewing an increase during the year, of 688. There were established in 1840, 959 post offices, and 271 discontinued. The number on the 5th of December was 13,638, while during the year there have been 3,231 post masters appointed, of whom 959 were for new offices, while 2,272 were to supply vacancies, occasioned by deaths, dismissals, or removals from other causes. The number of post offices in 1834, under the administration of the late President Jackson, was 13,841.

The number of contractors in this branch of the public service, during the year 1839, was about 2,100. Of those who were fined, or had deductions made from their pay for delinquencies, or neglect in the performance of their engagements, 628. The fines and deductions during the year 1840, inclusive of remissions, amounted to 60,685 dollars.

The revenue of this department has hitherto failed to defray its expenses, and that have, in consequence, to be provided for from other sources. The average annual expenditure for the six years,