certificate respecting damage, good stowage, &c. Formerly Dockage was a usual charge, but it is now discontinued, owing to competition between the proprietors of different wharfs.

NEW ORLEANS.

Situated on the left bank of the Mississipi, 104 miles from its mouth by the course of that river, and about 90 in a direct line.

Tonnage duty and Custom-house fees.-The regulations in force in other American ports, extend also to this.

Pilotage. From sea to the Bar, $2 per foot, and from the port to sea, the same.

Powerful steam-boats may be had to take vessels either up to the town, or from thence to sea. The charge in the former case is $1 per ton measurement, and in the latter from 50 to 100. for each trip, according to circumstances.

Harbour-master's fees,-vary a little according to the size of the vessel. A British brig of 230 tons burthen is rated at 86.25 cents. Portwardens, about 5. Wharfage, 40.

Stowage. The re-pressing of cotton is a charge falling on the ship by which it is exported, and is 75 cents per bale. Stowing cotton, 25 cents per bale, tobacco, 1. per ton, or 50 cents per hhd.

Commission on Freight.-Inward 24 per cent, outward 5 per cent.

KEY WEST.

Rates of Pilotage.-By a late ordinance of the city council at Key West, vessels bound through the North West, to, or from ports farther West, stopping at the island to land passengers and letters, or to procure supplies, are no longer subject to any charge for pilotage, unless a pilot is desired and employed. Vessels entering the port for the purpose of trading and taking a pilot, are to pay as follows.

Vessels not spoken with until within three miles of the lights on Whitehead's Point, Key West, are exempted from any charge.

CONTENTS OF A TON FOR FREIGHT.*

When vessels are freighted by the Ton, and no special agreement is made between the owner of the vessel, and freighter of the goods respecting the rate of tonnage at which each particular article shall be computed, the standards of computation are to be taken as fixed in the following regulation.

The following quantities of the several articles enumerated shall be esteemed equivalent to a Ton of dead weight, viz.

6

وو

beef, pork, tallow, pickled fish, pitch, tar, and turpentine. 20 cwt. pig and bar iron, potashes, sugar, logwood, fustic, Niagara wood, and all heavy dye-woods, rice, honey, copper ore, and all other heavy goods.

200 gallons wine-measure, reckoning the full contents of the casks, of oil, wine, brandy, or any kind of liquors.

22 bushels of grain, peas, or beans, in casks.

40 feet, cubic measure, of mahogany, square timber, oak plank,

pine, or other boards, beaver, fur, peltry, bees wax,

cotton, wool, and bale goods of all kinds.

CURRENCY AND APPRECIATION OF PRECIOUS METALS

IN THE

UNITED STATES OF AMERICA.

The institutions of a comparatively young and effectually emancipated nation are necessarily distinguished by a desirable simplicity, and the monetary arrangements of the United States in particular, bear this characteristic feature in every detail in which they allow themselves to depart from previous custom.

Prior to their independence, and also subsequently to its attainment, different currencies prevailed in the several States of the American Union, all of which however, have been since abolished by Act of Congress, which also declared all accounts kept in those monies to be inadmissable in the Courts of Justice. Still, from the force of habit, the use of them is not entirely abandoned, but the occasional instances of their employment are confined, without scarcely any exception, to the minor transactions of retailers. It is deemed useless to enter into a particular enumeration of these obsolete currencies, as merchants' accounts are now universally kept in dollars (8) and cents.

A Dollar contains 10 Dimes, 100 Cents, or 1000 Milles, and is represented :

1. in Gold, by the 10 Dollar piece, called Eagle, Eagle, and Eagle, which however, are scarce, and only to be met with at a premium of from 2 to 5 per cent.

2. in Silver,-a, by the American Dollar piece, now scarce.

also by the Mexican, Central-American, Peruvian, and Chilian Dollar, being of equal standard with the Spanish, viz. 17 dwt. 8 grs. 1000 Spanish Dollars weigh 866 ounces, Troy weight.

Note. The Chilian dollar is sometimes found deficient in weight, the average not exceeding 17 dwt. 7 grs. The Columbian dollar is an anomaly; its fineness is only 9 fine in 12, and its weight 15 dwt. to 15 dwt. 11 grs. and its average value 70 to 75 cents.

The Spanish and South American Dollar being divided into 8 Reals, and the United States Dollar into as many old New York Shillings, it follows that in New York

3. in Copper,-by 100-one Cent pieces.

4. in Bank Notes, issued by the numerous incorporated Banks, established in every part of the Union, and bearing the re spective values of 81. 2. 3. 85. 10. 20. 25. 30.

40. 50. 100. $200. $300. $400. 500. 1000. &c. Although the Banks can at any time be called upon to redeem the nominal value of their issues by an equal value in the silver currency of the country, their local notes are the only ones, (with the exception of those of the United States Bank), which are current at par within the city, town, or district, where they have been issued; those of distant Banks usually bearing a proportionate small discount.*

In the appreciation of precious metals in the United States, the

* The trade of Banking is perfectly free in the United States. There are about 300 Banks established in that country, of which the "United States Bank," whose central establishment is in Philadelphia, with twenty-five branch establishments in other parts of the States, is the principal. It is the Government Bank, and although not endowed with any further monopoly or privilege, is on that account as well as on account of the greater extent of its capital, the most influential. This Bank owes its origin to the commercial crisis which afflicted the United States about the year 1814, when a Government Bank no longer existed. At that period the Banks in most of the States stopped payment by mutual consent, which caused a great depreciation in the value of their notes. In order to remedy this state of things, and to break up this combination. Congress suggested the expediency of founding the "United States Bank." It was incorporated as a National Bank on the 3d March, 1816, and its capital was fixed at 35,000,000, divided into shares of 100 each, (of which the United States are holders to the amount of $7,000,000),

pound Troy is adopted. It contains 12 ounces, each ounce containing 20 pennyweights, and each pennyweight 24 grains. Therefore 480 grains constitute the ounce, and 5,760 grains the pound Troy. The grain is the lowest subdivision now in use in mercantile transactions.

The unit of reference for fine silver has been fixed at 12 ounces, each divided into 20 pennyweights, each pennyweight containing 24 grains Troy. Standard silver is to fine silver in the proportion of 11 ounces, 2 pennyweights, or 222 dwts. fine in 240,* being the degree of fineness which is understood in the quotation of its commercial price, and adopted in its coinage. In a mass of standard silver, therefore, weighing 1 lb., there should be contained 11 oz. 2 dwts. of fine silver, and an alloy of 18 dwts. of fine copper.

By the Statutes of 8th August, 1786, and 6th July, 1787, the coins of the United States and their fineness were established as follows: of Gold-the Eagle of the purity of 22 carats, weighing 268% grains, troy-weight, or 246% grains pure gold, and worth 10 dollars, the half and quarter Eagle in the same proportion.

790

100

of Silver,―the Dollar of the purity of 11 ounces weighing 409 grains troy-weight, or 375%%% grains pure silver, and worth 100 cents; the half and quarter Dollar, the Dime and Bit in the same proportion.

bearing interest at 5 per cent per annum, the charter to expire at the termination of twenty years, viz. on the 3d March, 1836.-The first effects produced by the establishment of this Bank were such as had been anticipated. The other Banks found themselves compelled to resume their cash payments, and although they were consequently necessitated to contract their issues, and some to suspend their payments altogether, thereby involving the country and particularly the commercial classes in great distress for the time, the result was in the end beneficial to all, as it was through the instrumentality chiefly of this Bank, that the currency and the monetary system of the country were placed upon that footing of stability and solidity which they have enjoyed ever since. In a statement published by the Directors, dated 1st September, 1831, the affairs of the Bank are represented as in a very flourishing condition, and a clear surplus is exhibited of 1,750,000, over and above the original capital. The expiration of the charter approaching, Congress has been applied to for its renewal. This was granted in the last sittings of both Houses (1832), but the sanction of the President was withheld. The Bank is consequently under the necessity of winding up its concerns. The question, whether that body will yet succeed eventually in obtaining a renewal of their charter, or whether their privileges as a National Bank will pass over under certain restrictions, into the hands of others, cannot be answered definitively at present. It will mainly be decided by the next election to the presidental chair, which must take place previously to the expiration of the present United States' Bank charter.

* The former Mint price in England of silver, 62d. per oz. was altered in 1817, by Act of Parliament, when it was enacted, that 1 lb. of standard silver should be coined into 66 shillings, that those who brought the silver should receive 62 of these shillings.