BANK STATISTICS.

RATIO OF SPECIE IN THE BANKS OF MASSACHUSETTS.

A Table showing the Number of Banks, Capital, Ratio of Specie to Circulation and Deposites, in each Year, from June, 1803, to October, 1838, compiled from the Bank Returns in the Secretary of the State's Office, by J. S. Sleeper, Esq., editor of the Mercantile Journal, Boston.

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 liabilities.

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:

A TABLE, containing the average number of Banks, the average Capital, the average ratio of Specie to the Circulation, and the average ratio to the Circulation and the Deposites.

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 better 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 $4,96; 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 $4,36, 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.

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

782,702 71 2,847,497 9536,731,281 11 5,297,516 93 4,833,669 94 7,117,978 86

Issue of the City Banks.

Deduct notes held by the different Banks.

Actual circulation......

$4,345,533 50

762,702 71

$3,562,830 79

MERCANTILE MISCELLANIES.

CURRENCY OF GREAT BRITAIN.

A TABLE of the Circulation of Great Britain at different periods, from 1810 to 1839, inclusive.

Bank of England..

Private Bank circulation..
Exchequer Bills....
Irish circulation..
Scotch circulation..

In 1810. In 1816. In 1825. In 1836. In 1839.

£24,446,171 26,681,398 20,378,410 18,147,000 17,960,000 23,893,868 67,000,000| 32,800,000 12,872,329 12,225,448 23,260,000 15,095,000 14,147,211 28,976,000 28,456,000 3,170,066 4,179,549 6,411,349 6,540,000 7,000,000 2,080,340 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.

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. The 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.

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 bank paper.

On page 34, Mr. Raguet gives $1 87 7-120, as the true value of the British Sovereign under the Gold Bill of 28th June, 1834. (The correct value under that bill is $4 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 .474743723303, or by extending the decimal, $4,8665x, which is the real par of exchange with London, and quoted thus: 109,496x or very nearly 94 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 9151 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 $4 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.

It 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 $4 85-one 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 flags, 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.""

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." Gentlemen," 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 aniidst a universal roar of laughter. The next day he failed!-MORRIS.