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SYNOPSIS OF THE REPORTS OF THE PENNSYLVANIA BANKS.*

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10,540

59,924 42,515 16,040 60,430 25,900 46,600 90,000 17,000 70,000 17,000 140,000 87,885 231,520 204,375 92,050 71,580 64,100 12,000 27,265 14,980 29,210 20,550 34,360 38,545 39,585 25,135 37,820 17,910 15,940

Manufacturers' and Mechanics' Bank of Philadelphia,.. 61,365 52,570 13,950 41,400 21,330 26,140

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* We have added a column showing the amount of $5 bills in circulation in 1834 $2,014,525.

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(Concluded from page 157.)

An Act

May 11, 1857, "granting to the several banks of this State the privilege of issuing post notes, and for other purposes."

Sec. 1. Be it enacted by the Legislature of the State of lawful for the several banks in this State to issue post notes Mississippi, That so much of the above recited act, as makes be, and the same is hereby repealed.

it

Sec. 2. Be it further enacted, That if any of the chartered banks of this State, shall issue post notes, or notes payable at a future day, intended to circulate as currency, it shall he held and deemed a forfeiture of its charter.

It is sometimes remarked, by those who do not consider To repeal so much of an act entitled "An act" approved the widely different nature of the operations of this Company and the Schuylkill Navigation Company, that the expenditures of the Lehigh are very large, as compared with those of the Schuylkill, which is contined to a canal, or navigation alone. The fact however, is, that our expenditures in the navigation, including all the new work of the upper section recently finished, are a trifle less than those of our enterprising neighbors of the Schuylkill. The investments of the Lehigh company, beyond the cost of its navigation, consists of expenditures in the construction of the railroad connecting that navigation with the Susquehanna, and in large bodies of valuable lands, and in improvements thereon, and other property, works, and appurtenances, partially described in the preceding pages, of a kind peculiar to itself, as compared with any company whose business is limited to that of a canal or navigation only. In addition to all which, we have a heavy mercantile capital invested in the coal business. This portion of our capital, however, will not be required whenever the company deem it their interest to discontinue that branch of their business, and let out their mines to be worked by others, as heretofore intimated.

The completion of the railroad, (the use of which we expect to have in September next.) will fulfil all the requisitions of the laws of the Commonwealth relative to this Company, and will close their great works and the further outlay of capital.

On the whole, the Managers can with confidence invite the Stockholders to visit the property of the company, from the mouth of the Lehigh to the Susquehanna, and the districts of country depending on our work to connect them with Philadelphia and New York city, and they believe none none would return from such an excursion, without being perfectly satisfied that the investments have been judiciously made, and will amply reward the stockholders for all their expendenditures.

By order of the Board of Managers,
JOSEPH WATSON,

President.
Office of the Lehigh Coal and Navigation Company,
Philadelphia, January 13, 1840.

At the Stated Annual meeting of the Stockholders of the Lehigh Coal and Navigation Company, held January 13,

1840.

THOMAS P. COPE, Chairman: Resolved, That this meeting, satisfied of the great importance to the Company of the introduction upon the Lehigh, on a large scale, of a business of smelting iron ore with An thracite coal, approve of the acts of the Managers in passing the various resolutions relative to it, and the acceptance of the resolution of the 2d of July, 1839, by the Lehigh Crane Iron Company, and that the President of this Company be directed to have a deed executed to the Lehigh Crane Iron Company, for the water power of the canals, supplied by the Hartman dam, with the land suitable for using it, agrecably to the terms of that resolution, whenever said Iron Company shall furnish satisfactory proof that they have complied with the terms of the said resolution of July 2, 1839.

Sec. 3. And be it further enacted, That this act shall take effect and be in force from and after its passage.

J. SPEIGHT,

Speaker of the House of Representatives.
GEORGE B. AUGUSTUS,
President of the Senate.

Approved, February 6th, 1810.

A. G. McNUTT.

Improvements of Dayton.—The Dayton Journal informs us, that during the past year there has been built in Dayton 100 substantial buildings; 64 of brick and 36 frame.-Among these are three churches, viz.

The First Presbyterian Church, of the Ionic order-80 feet in length by 50 feet in front, with a steeple 131 feet from the ground.

The Second Presbyterian Church, in the Grecian Doric style-50 by 75 feet, with a tower 163 feet from the pavement.

The Baptist Church in the Grecian Doric style-40 feet by 60, with a tower 75 feet in height.

Several large Factories have been built, among which are the following:

A Flour Mill, 50 by 82 feet, four stories high, and hav ing four run of stone, and grinds 450 bushels of wheat per day.

A large three story Oil Mill, with six Hydrostatic Presses; and will make six barrels of oil per day.

A Peg and Last Factory, 44 by 50 feet-3 stories high -makes 20 bushels of pegs and 500 lasts per week. A large Iron Foundry and Cotton Mill have been commenced.

It should be remembered that these works were commenced before the present embarrassments commenced, and

that now none of them would be begun. The whole Miami country, however, has been in a highly flourishing state till recently; but as things now are, no new undertakings are commenced; and rone, with but few necessary exceptions, can be, till the financial policy of the country is changed.— Cincinnati Chronicle.

An item of Business on the Rail Road-On Tuesday last, 15 cars of the "Chambersburgh line," under the direction of E. D. Reid; left this place at 4 o'clock. P. M. for Green-Castle, were loaded with 450 bbls. of flour, at the warehouse of Thos. M'Cauley, returned same evening, and by next morning the flour was cleared for Philadelphia. — Franklin Repository.

Resolved, That the Board of Managers about to be elected, | be requested to use their exertions to induce capitalists to Fishing Bounties.-The amount paid at the custom commence the business of smelting iron ore with Anthracite house (Barnstable) in a certain week to the owners and coal, as extensively as possible, and to erect mills and manu- crews of 280 Codfishing vessels was $58,775 73. factories of various kinds along the line of the canal-and that they be authorized to dispose of the water power for these purposes, on advantageous terms, for the interest of this Company.

The New Brunswick Marine Insurance Company. The New Brunswick Marine Insurance Company declared a semi-annual dividend on the 2d inst. of forty per cent. This institution has not yet been in operation three years, and has paid losses to the amount of upwards of £36,000. The Company is restricted from taking a risk in any one instance exceeding £2000.

The UNITED STATES COMMERCIAL AND

STATISTICAL REGISTER, is published every Wednes
day, at No. 79 Dock street. The price to subscribers is
Five Dollars per annum, payable on the 1st of January in
each year. No subscription received for less than a year.—
Subscribers out of the principal cities to pay in advance.
PRINTED BY WILLIAM F. GEDDES,
No. 112 CHESNUT STREET,
Where Subscriptions will be received;

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MEMORIAL

Of Merchants of U. S. at Canton, China. To the honourable the Senate and House of Representatives of the United States, in Congress assembled. The undersigned, native citizens of the United States, resident at the port of Canton, in China, beg leave to present this our memorial.

We have no wish to see a revival of the opium trade; to the contrary, before the adoption of the violent measures that have given occasion for the present memorial, we had, most of us, signed a voluntary pledge, that, believing in the sincerity of this government in their efforts to destroy the trade, we would in future abstain from dealing in the drug. We are alive to the fact, that during the last five years, Great Britain and her Indian possessions have drawn from this That, upon the twenty-second day of March last, we were, empire thirty to thirty-five millions of dollars in gold and silin common with the resident foreigners of all nations, made ver, and forty to forty-five millions of dollars in teas, raw prisoners in our factories and surrounded by armed men and silk, etc., in exchange for a drug which has been productive boats; deprived of our servants, and cut off from all commu- of much evil and of scarcely a single good to the Chinese; a nication with our ships at Whampoa, Lintin, and Macao; drug, the introduction of which we have reason to fear has by which means, together with the threatened forfeiture of degraded the foreign character in the estimation of the better life if his arbitrary exactions were not complied with, a com- portion of the Chinese. And whether we view the subject missioner from the Imperial Government at Pekin has suc-in a moral and philanthropic light, or merely as a commerceeded in wresting from residents here upwards of twenty thousand chests of British owned opium, which may be valued at more than ten millions of dollars. We have, also, been threatened with severe but undefined penalties for re-justification of the robbery committed upon British subjects fusing to sign a bond by which all concerned in a vessel that may hereafter be found bringing opium to China are required to be given up to the authorities for punishment by death. The occasion for these acts of violence and aggression on the part of the Chinese Government is an extensive opium trade, of the rise and progress of which we propose to submit a brief review:

cial question, we are extremely desirous to see the importation and consumption of opium in China entirely at an end. We cannot, however, perceive the slightest ground for here, nor for the detention of the persons, ships and property of those who are entirely disconnected from the obnoxious trade. The measures of the Imperial Government should have been directed first against its own officers, who have been engaged and most active in the trade; but taking advantage of the unprotected state of the foreign community of Canton, the commissioner has proceeded in his high-handed measures, regardless alike of the respect due to the representatives of foreign powers resident in Canton, and of the laws or customs and usages that have heretofore been observed and considered the chief guaranties for the safety of the foreign trade.

Opium had been for many years imported into China at an established rate of duty until about the year 1800, at which time the then reigning Emperor prohibited its introduction; it was, however, subsequently openly delivered from vessels stationed at Whampoa until about the year 1821, when the opium-receiving vessels were expelled from the river and If, as it is confidently believed, the British Government took their stations at Lintin, where the trade has since been should determine to demand explanation and satisfaction for carried on with the knowledge and consent of the chief local the outrages committed upon Her Majesty's officers and subauthorities, and with little interruption, rapidly increasing injects resident here, her naval force may find it necessary to amount and value, as shown by the following statement: In the year 1816-7 were sold 3,210 chests, for $1,657,000 5,822 7,988,930 9,535 10,425,075 15,332,759 In 1833-34, the opium trade in foreign vessels (chiefly British) along the whole coast of China, eastward of Canton, began to assume an importance which has greatly increased until the present crisis.

1822-3

1827-3
1832-3

23,670

resort to a blockade of the chief ports and rivers upon the coast, and to interrupt an immense coasting trade in grain, salt, and other merchandise which is transported from the southern provinces of the empire, Formosa, &c, to the more northern ports for the supply of the less productive vicinity of Pekin. A perseverence in these measures, it is believed, would in a very few months reduce the Chinese Government to a willingness to listen to all the just and reasonable demands of the foreign power, while the consequence of suffering the present attack to pass without remonstrance or redress, we cannot doubt, will be such an aggravation of existing evils as would lead to constant interruptions of the trade, if not eventually to the total expulsion of foreign commerce from the empire.

In 1836 it was announced to the foreign residents that the imperial councils at Pekin proposed to admit opium at a fixed rate of duty, as was done prior to the year 1800; the high officers of this as well as of several other provinces, memorialized the Emperor, recommending the adoption of the proposed measure; and so little doubt was entertained, either We would, therefore, with all deference and respect, exby the resident foreigners or by the best informed of the na-press our opinions that the United States Govermnent should tive merchants, that it would speedily take effect, that arrangements were made for an increased production of the drug in India to an extent that, had the trade been suffered to continue without interruption, the amount of opium that would have found purchasers in China during the present season of 1839-40, would not have fallen short of about forty thousand chests.

take immediate measures; and, if deemed advisable, to act in concert with the Governments of Great Britain, France, and Holland, or either of them, in their endeavours to establish commercial relations with this empire upon a safe and honourable footing, such as exists between all friendly powers, and by direct appeal to the Imperial Government at Pekin to obtain a compliance with the following among other important demands:

2d. The promulgation of a fixed tariff of duties on articles, both of import and export, from which no deviation shall be allowed under any pretext whatever.

Edicts and proclamations have from time to time been promulgated, prohibiting the opium trade, but notwithstand- Permission for foreign envoys to reside near the court at ing these, the highest officers in the province have not only Pekin, on the terms and with all the privileges accorded at connived at the smuggling or introduction of the drug by the other courts, through whom appeal may be made to the ImChinese, receiving a fee or duty varying from twenty to sev-perial Government in cases of difficulty with the local auenty dollars per chest, but they have been active participators thorities in the prosecution of our commercial pursuits. therein; and it is a well known fact, that a large amount of the opium delivered at Lintin, has been delivered to boats belonging to, and bearing the flags of the Governor, the Hoppo, or collector of customs, and other high officers of the province. The increase of this trade since 1817 is of itself sufficient evidence, that it has been favoured by the fostering care as well as by the connivance of the officers of government, and the circumstance, that during the past six months the sale of opium to the Chinese has almost ceased, shows clearly that whenever it pleases this government to abolish the trade, they possess ample power over their own people to do it effectually.

3d. A system of bonding warehouses, or some regulations permitting the transhipment of such goods as it may be desirable to re-export for want of a market in China. (See Note a.)

4th. The liberty of trading at other port or ports in China other than that of Canton. (See Note b.)

5th. Compensation for the losses caused by the stoppage of the whole legal trade of the port and the consequent detention of vessels and property; with a guaranty against the

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