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BANK STATISTICS.

RATIO OF SPECIE IN THE BANKS OF MASSACHUSETTS.

A Table showing the Number of Banks, Capital, Ratio of Specie to Circulation and De

posites, in each year, from June, 1803, 10 October, 1838, compiled from the Bank Returns in the Secrelary of the State's Office, by J. S. Sleeper, Esq., editor of the Mercantile Journal, Boston.

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On the 10th of February, 1838, according to the returns of one hundred and twentyfour banks, the specie to the circulation was ns 1 to 5,34, and to the circulation and deposites as 1 to 8,54 — a reduction from: October, 1837, favorable to their immediate fiabilities.

In the following table is contained the average number of banks, the average ratio of specie to the circulation, and its average ratio to the circulation and deposites :

Aver. ratio of

Aver. ratio of No. of Banks. specie to cir- specie lo circulation.

culation and deposites.

In 10 years, from 1803 to 1812. In 10 years, from 1813 to 1822. In 10 years, from 1323 to 1832 In 6 years, from 1833 to 1838 In 5 years, from 1834 to 1838 In 36 years, from 1803 to 1838.

RATIO OF SPECIE IN THE BANKS OF BOSTON.

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141 257-10 57 1122-3 1144-5 1457-9

$1 to 1,30
1 to 0,99
1 to 4,84
1 to 6,46
1 to 6,21
1 to 2,60

$1 to 3,06
1 to 2,61
1 to 7,53
1 to 10,94
1 to 10,74
1 to 4,89

$1 to 1,27

1 to 1.28
I to 0.76
1 to 0,77
1 to 1,07
1 to 0,41
1 to 1,61
1 to 1,29
1 to 1,27
1 to 0,37
1 to 0,30
1 to 0,31
1 to 0,69
1 to 1,27
1 to 1,18
1 to 1,91
1 to 1,44
1 to 1,48
1 to 0,58
1 to 2,75
1 to 2,68
1 to 1,64
1 to 7,02
1 to 5,35
1 to 4,11
1 to 6,79
1 to 3,13
1 to 2,38
1 to 5,99
1 to 5,13
1 to 4,30
1 to 3,34
1 to 3,68
1 to 3,68
1 to 3,88
1 to 2,00

$1 to 3,37

1 to 3,36 1 to 2.8 1 to 4,82 1 to 6,80 1 to 3,60 1 to 5,50 I to 3,73 1 to 4,71 1 to 1,81 1 to 1,49 1 to 1,66 1 to 2,07 1 to 3,45 1 to 4,08 1 to 5,78 1 to 4,22 1 to 4,77 1 to 2,58 1 to 8,79 1 to 7,55 1 to 5,54 1 to 10,53 1 to 7,59 1 to 6,18 1 to 8,59 1 to 5,58 1 to 4,79 1 to 10,80 1 to 8,07 1 to 8,09 1 to 7,52 1 to 9,54 1 to 9,86 1 to 9,68 1 to 4,96

A TABLE, containing the arera ge number of Banks, the average Capital, the arerage

ratio of Specie to the Circulation, and the average ralio to the Circulation and the Deposites.

Aver. ratio of

Arer. ratio
No.of Banks. Aver. capital. specie to cir- specie to cir.

culation.

culation and deposites.

10 years from 1803 to 1812... 3

$3,780,000 $1 to 0,81 $1 to 3,21 10 years from 1813 to 1892... 63-5

7,614,555 1 to 0,63 1 to 2,52 10 years from 1823 to 1832.. 154-5 11,621,805 1 to 4.14 1 to 7,16 6 years from 1833 to 1838. 29

18,603,350 1 to 3,33 I to 7,98 36 years from 1803 to 1838.. 118-9 9,502,325 I to 1,75 1 to 4,36

In October, 1837, the ratio of the specie to the circulation in the Boston banks, was as $1 to $3,88, and in one year it was increased over 48 per cent., so that in October, 1838, it was as $1 to $2, which is only 14 per cent. less than the average ratio of $1 to $1,75, from 1803 to 1836, according to the official returns for 36 years. At the present time, the ratio is about $1 to $1,42, being an increase of 28 per cent. during the past year, and is nearly 19 per cent. greater than the average ratio for the 36 years. These banks are now in a beiter condition in this respect than they have been since June, 1821.

In October, 1837, the ratio of specie to the circulation and deposites was as $1 to $9,63; and in one year it was increased nearly 49 per cent., so that in October, 1838, it was as $1 to $1,96; which is more favorable than it has been since 1821, except in 1830, and is hardly 14 per cent. less than the average ratio of $1 to $1,36, from 1803 to 1838, according to the above returns.

STATEMENT OF THE SITUATION OF THE BANKS IN NEW ORLEANS,

On the 21st of October, 1839.

CAPITAL.

BANKS.

Deposites. Circulation.

Nominal.

Paid up

1. Canal and Banking Co.. 4,000,000 3,999,750 00 194,224 31 284,000 00 2. Carrolton R. R. & Bk'y.. 3,090,000 1,949,350 00 75,351 78 278,2015 00 3. Citizen's Bk of Louisiana 12,000,000 6,866,666 67 1,892,831 17 428,450 00 4. City Bank...

2,000,000 2,000,000 00 631,164 34 526,770 00 5. Commercial Bank... 3,000,000 3,000,000 00 254,193 61 239,620 00 6. Consolidated Association. 2,450,000 2,450,000 00 544,173 61 195,635 00 7. Exchange and Bk’g Co.... 2,000,000 948,310 00 179,276 34 357,620 00 8. Gas Light and Bk'g Co.. 6,000,000 1,854,455 00 32,786 69 72,080 00 9. Improvement & Bk'g Co.. 2,000,000 1,521,491 50 176,073 19 146,410 00 10. Bank of Louisiana.. 4,000,000 3,997,500 00 337,084 16 292,722 50 11. Louisiana State Bank... 2,000,000 1,937, 120 00 722,872 33 291,210 00 12. Mechanic & Trader's Bk.. 2,000,000 1,998,390 00 84,903 21 178,475 00 13. Merchant's Bank..

1,000,000 1,000,000 00 223,136 98 150,530 00 14. Bank of Orleans...

500,000 4:24,700 00 52,786 20 184,725 00 15. Union Bank of Louisiana. 7,000,000 7,000,000 00 442,070 71 638,470 00 16. Atchafalaya Bank..... 2,000,000 788,915 00 72,302 52 129,710 00

Total....

54,950,000 41,736,768 171 5,415,231 171 4,345,533 50

Statement of the situation of the Banks in New Orleans - Continued.

CAPITAL

Discounts & Liabilities
loans on real other than

Assets, other
estale,

than those c.t. Capital gainand those expressbills of. notes, ed, bills pny receivable,

pressed, bills ed, and proincluding able, bonds,

fils undivicapilal branches. dends unp'd.

ly notes, 4.c.

Local Bank

Notes.

Spesie.

of fo.and divi: municipali-ded.

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57,070 00 120,631 30 3,091,003 63 211,188 23 12,176 28 566,416 91

6,965 00 25,893 53 1,073,723 89 264,109 84 514,730 80 258,216 17 62,335 00 358,292 00 3,902,693 94 1,470,019 75 929,371 38 698,665 36 70,890 00 264,000 81 2,919,052 42 50,870 48 46,084 60 2:6,733 79 34,095 00 229,100 38 1,8-5,766 52 333,745 22 85,500 10 446,188 63 25,745 00 203,871 81 1,963,381 18

268,949 07 521,963 52 129,555 00 14,065 74 802,888 92 117.928 76 101,656 01 78,857 26

4,905 00 25,055 73 2,556,919 65 2,032,754 47 1,083,955 77 208,616 22 12,465 00 47,169 69 406,559 36 332,425 45 295,305 75 151,834 85 33,015 00 441,906 28 4,565,142 95 126,319 64 78,080 79 893,448 35 37,241 50 333,464 88 2,376,975 16 10,208 80 161,943 90 123,856 64 34,125 00 56,031 37 2.097,550 69 1,500 00 25,540 01 344,797 201,297 76 402,463 36 1,935,548 23 110,000 CO 221,560 99 115,813 69

17,456 00 44,107 82 4-8,370 45 16,253 51 224,774 60 195,683 61 32,770 00 231,299 10 5,330.211 97

492,340 85 2,233, 130 98 29,772 45 37,120 65 729,454 15 170,192 761 258,699 04 78,728 25 782,702 711 2,817,497 9536,731,281 11 5,297,516 93 4,833,669 94 7,117,978 86 Issue of the City Banks.

$4,345,533 50 Deduct notes held by the different Banks.

762,702 71 Actual circulation......

-$3,562,830 79

13 14 15 16

MERCANTILE MISCELLANTES.

CURRENCY OF GREAT BRITAIN.

A Table of the Circulation of Great Britain at diferent periods, from 1810 to 1839,

inclusive.

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Bank of England ... £24,416,171 26,681,398 20,378,410 18,147,000 17,960,000 Private Bank circulation. 23,893,868 67,000,000 32,800,000 12,872,329 12,225,448 Exchequer Bills..

23, 260,000 15,095,000 14,147,211 23,976,000 28,456,000 Irish circulation

3,170,066 4,179,519 6,411.319 6,540,000 7,000,000 Scotch circulation..

2,080,310 3,260,570 5,230,750 4,680,290 4,500,000 Total Paper circulation... £76,820,447 116,197,817 78,987,720 72,315,629 70,141,488 Bullion in the Bank...... 3,181,350 7,562,780 3,634,320 4,545,000 2,836,000

The paper currency of the United Kingdom of Great Britain is made up of five different kinds:-1. Bank of England notes ; 2. Joint-Stock Bank notes, and Private Bankers' bills; 3. Exchequer bills; 4. Irish Bank bills; 5. Scotch Bank bills.

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VALUE OF THE POUND STERLING, OR BRITISH SOVEREIGN. The Journal of Commerce publishes a communication, evidently written by a mathematician of high attainments, relative to the value of the pound sterling. T'he writer's remarks were elicited by the perusal of Condy Raguet's treatise on "currency and banking,” recently published in Philadelphia.' The writer thinks that if the book should be generally read by our merchants and bankers it would prove highly useful, although there are some positions of the author to which he cannot give his assent.

bank paper:

In this work Mr. Raguet explains, first, the laws which regulate a currency, composed entirely of the precious metals; secondly, the laws which regulate a mixed currency, composed of the precious metals and of paper convertible into coin on demand; and thirdly, the laws which regulate a currency composed entirely of inconvertible

On page 34, Mr. Raguet gives $1 87 7-120, as the true value of the British Sovereign under the Gold Bill of Bath June, 1834. (The correct value under that bill is $1 87 . 137118067, and the true gold par of exchange with London.)

When he wrote this, Mr. Raguet appears not to have seen the third and last act of congress, touching our coinage, approved 18th January, 1837, supplementary to the act entitled " an act establishing a mint, and regulating the coins of the United States," though he incidentally alludes to it in a note on page 186, near the end of his book.

Under this act, the value of the sovereign (pound sterling) 22 carats fine, is $1 86 .474713723303, or by extending the decimal, $4,8665x, which is the real par of exchange with London, and quoted thus: 109,496x or very nearly 91 per cent. premium on the computed par of #4 44 4-9. But it is said to have been found by assay at the United States mint at Philadelphia, within the current year, that the sovereign is only 9154 thousandths (21 97x carats) fine, which is 1 1-6 thousandths short of the legal fineness -916 2-3 thousandths, or 22 carats. Consequently, the value of the sovereign is, in fact, only $1 86.8914241101, or by extending the decimal, $4 8603x, which is now the real intrinsic par of exchange with London, (provided the sovereigns are of full weight,) and is quoted thus: 109 35x, or 9 7-20 per cent. nominal premium, or the fixed par of $1 44 4-9.

Il should be noticed in this place, that the mode still adhered to by many, of quoting exchange between the United States and London, is both obscure and absurd, as the premium or discount is founded upon the false or nominal par of $4 44 4-9. instead of the true par of $1 86x. It would be much more simple and intelligible, to quote the course of exchange at so many dollars and cents per pound sterling or sovereign, taking $1 86 as the true value of the sovereign, and fixed par of exchange with London.

It should also be observed, that in the calculation of our duties at the custom house prior to the 14th July, 1832, the value of the pound sterling was computed at $1 44. From and after that date it was fixed by law at $4 80, which still obtains in estimating the value of British goods, for the purpose of calculating the ad valorem duties.

The banks receive and pay out sovereigns at $1 85-vne cent less than their intrinsic value, (supposing them to be of full weight,) making a difference in 100,000 sovereigns of $1,000, between the real and computed value. This must be owing to the officers of the British mint taking full advantage of the" remedy," and suffering the sovereign to be short of the standard in weight as well as fineness. Or, it may be owing to many of the sovereigns which reach this country, having lost part of their weight, and consequently value, through frequent use.

SUGAR IN FRANCE.

The Journal de Rouen contains the following letter from Havre, describing the effects produced in that town by the reduction of the sugar duty :-" The news of the reduction of the duty on sugar has been received with the greatest enthusiasm by all classes of our population. Not only were all the ships in harbor gaily dressed, and the houses adorned with tri-colored fags, but the laboring class, whose work was diminished by the smallness of the cargoes of ships from the colonies, paraded the streets in great numbers, preceded by a tri-colored flag, with a sugar cane surmounted by a nosegay, below which was beet-root covered with crape, with this inscription, 'Death to the beet

root.''s

IMMEDIATE RELIEF.

During the "panic" in the money market some few years ago, a meeting of merchants was held in the Exchange, to devise ways and means to extricate themselves from their pecuniary difficulties. The great hall was crowded, addresses were made, resolutions passed, committees appointed, and everything done that is usual and necessary. After all this, one of the company moved that the meeting stand adjourned until some future day, when up jumped a little jobber, in a great state of excitement, and requested the merchants to linger a moment, as he had something of the greatest importance to communicate. The jobber was known to be a very diffident person; and, as he had never ventured on the responsibilities of speaking on any former public occasion, all were anxious to hear what he had to say.--"Genilemen,” said he, with evident emotion, and in the most emphatic, feeling and eloquent manner, " what's the use of talking of some future day? We want relief, I tell you!—immediate relief!" and down he sat ansidst a universal roar of laughter. The next day he failed !-MORRIS.

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