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stood that all bodies in nature owe their respective properties solely to the fixations of forces passing momentarily to a static state, but always "evolutive" in a disposable field of action. These substances are then all produced by the action of one original and common principle brought into action. The transmutation is effected by condensation, or by the displacement of the forces which hold them for the moment in equilibrio. It is an exchange between the dynamo tensional efforts exerted by the agent employed, and, since the metals, simple in their chemical order, are compound in their dynamo-static state, it follows that the transmutation of metals can always take place, provided they are in media, in which the suitable elementary conditions will exist to effect the different changes. Such are the principles on which depend the operations of metallic transmutation. They have their laws. The first is that of solutions. It is on the difference of solubility of the metals that all the secret of transmutation empirically depends. The decisive transmutation of silver into gold show that it depends on two distinct operations-the first is to change the state of the silver, producing another substance which is not yet gold; the second consists in bringing the condition of this new undetermined substance to the state of pure gold. The process is thus described: A certain quantity of chlorhydrate of ammonia is dissolved in liquid ammonia; this salt shou'd be reduced to a fine powder. If the solution be turbid it is to be filtered; chloride of silver, perfectly white and humid, is then added, and the bottle well shaken up. The chloride of silver is dissolved, the solution becomes yellow, and deposits a precipitate of the same color, which must be collected most carefully. The characters of this powder are: 1. When introduced into aqua regia it is completely dissolved, and a new addition of ammonia precipitates it. 2. It is not fulmingating. 3. Lastly, it furnishes gold by the galvanic pile-that is to say, when placed between the two poles ol one of Bunsen's elements. Here is produced the most remarkable phenomenon-a transformation and a separation simultaneously. The ammonia is the dissolvent of the chloride of silver, and at the same time the reactive of the metal transformed by the chlorine.

BULLION IN THE BANK OF ENGLAND.

A parlimentary return collects and republishes the weekly accounts of the bullion held by the Bank of England in the last six years, to meet its notes when I resented. The range has been from £17,565,000 to £19,712,000. In 1860 the amount was as high as £15,752 000 in July, but had fallen to £12,094,000 in December. In 1861 it continued further to decrease, until it had fallen to £10,712,000 in July, after which it advanced, and reached £14,939,000 at Christmas. In 1862 it continued to advance, and was £17,565 000 in July, after which it declined, and was down to £13,989,000 in December. In 1863 it increased a little, and reached £14,734,000 in September, but had fallen to £12,279,000 in December. In 1864 it had advanced to £14,702,000 in March, but was down to £11,778,000 in May. It then recovered, and in 1865 had reached £15,423,000 in June, then falling until it went to £11,956,000 in October. In the first six weeks of 1866, to which the return extends, the range was between £12,075,000 and £12,400,000.

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THE IRON-CLAD NAVY OF ENGLAND.

The London Times publishes the following list of the iron-clad vessels of the British Navy, including the Northumberland and Bellerophon, the latest accessions:

Protect- Armor L'gth. ed guns, thickn's inches. 462

Prince Consort. 4,045

feet.
273

Black Prince*.

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Royal Alfred

4,068

273 32 6 & 4%

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Warrior*

6,109

380 26

416

Royal Oak..... 4,056

273 32

46

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5162

Zealous

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4%

Minotaur*. 6.621

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Northumbl'd*. 6,621 400

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226

5

46

Hec or*

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Valiant*.

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4%

Defence

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Resistance*

3,710 280 16

46

Viper..

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4%

Caledonia

Ocean....

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Vixen..

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273 32

416

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& 5%

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536

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& 5%

Scorpion... 1,857

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4% & 3

1 & 6 in.

.......

Wivern.... 1,857 220

4

4 & 3

The ships whose names are marked with a star are all of iron. The others are of wood, heavily plated with iron, with a timber "backing, varying in thickness from 29 to 36 inches.

The Northumberland could not get off the ways when an attempt was made to launch her a few days ago. It is said that she is the best of her class, although the English journals write in sharp criticism of the details of the whole. The Times, for instance, ays:

"It is very much to be wished that among the other reforms which these iron-clads seem to be introducing, the admiralty would adopt the French system of fastening on the plates with what are termed wood screws instead of through bolts. The latter weaken the plate very considerably and do not hold it on at all, whereas the trials made with the French system of fastening at Shoebury showed it to be so superior to ours as to be literally above any degree of comparison."

The plated deck-tower is unusually high in the Northumberland. and is divided into two stories, the lower to be occupied in action by riflemen only, while the upper story is to be used by those in command of theship, and from which also the vessel can be steered in action.

The draught of water of the largest iron clads is as follows: Achilles25 feet 11 inches forward and 26f 11inch aft, speed 14.322 knots. Black Prince, 26 feet forward 27 feet aft. speed 13,502 knots. Prince Consort 23 feet 8 inches forward, 25 feet 8 inches aft, speed 13,199 knots. Minotaur 23 feet 1 inch forward and 24 feet 1 inch aft, speed 14,781 knots. Warrior 25 feet 6 inches forward and 26 feet 5 inches aft, speed 14,356 knots. The Warrior, at sea-going draught of water, still remains the fastest ship under steam in the British navy.

GOLD IN NEW ZEALAND.

A mighty change seems to be dawning over the destiny of New Zealand. The sand on its sea-shore, the rivers flowing through the length and breadth of its land and the mountain ranges from the north to the south of each island, all seem impregnated with gold to a greater or lesser degree. The Hokitika diggings since they have been worked, a period of only a few months, have turned out about £700,000 worth of the precious metal. A correspondent from that locality writes as follows: "And as to the reality of the ground as a goldfield, I think there cannot be much doubt, when within one month more than 45,000 ounces of gold were exported, and I doubt not the present month will be far in excess of this. A few days ago I happen

ed to be out riding, and selected the beach north of the town, on which to take exer, cise, and found the wnole of the beach for miles was being occupied with diggers, who are mining just above highwater mark, and are washing out of the sea-sand sufficient gold to produce from £5 to £20 per week per man. In fact, nearly the whole coastfrom the Grey River down to Bruce Bay is a magnificent goldfield; and inland, too, for miles, men are gradually extending the field. During the last fortnight there have been several rushes up to the foot of the snow-capped Southern Alps, where the dig. gers are finding good payable gold" The total value of New Zealand gold exported from he colony up to the 30th June last was £7 646,809, and the number of ounces was 1,947,657. The principal localities from whence the gold has been obtained hitherto have been Otugo and Christ church provinces, but the whole of New Zealand is believed by geologists to be auriferous.

TREATY WITH JAPAN-A PROCLAMATION BY THE PRESIDENT.

The following Proclamation has just been issued by the President making public the treaty entered into between Japan and the United States:

Whereas a convention between the United States of America and the Empire of Japan, for the reduction of import duties, was concluded and signed by t' eir respective plenipotentiaries, at Yedo, on the twenty-eighth day of January, eighteen hundred and sixty-four, which convention being in the English, Japanese, and Dutch languages is word for word as follows. [The English version alone is here given.]

CONVENTION.

For the purpose of encouraging and facilitating the commerce of the citizens of the United Stares in Japan; and, after due deliberation, his excellency Robert H. Pruyn, minister resident of the United States in Japan, and his excellency Sibata Sadataro, governor of foreign affairs, both having full powers from their respective governments, have agreed on the following articles, viz. :

ART. 1. The following articles, used in the preparation and packing of teas, shall be free of duties.

Sheet lead, solder. matting, ratan, oil for painting, indigo, gypsum, firing pans, and baskets. ART. 2. The following articles shall be admitted at the reduced duty of five per cent: Machines and machinery, drugs and medicines. (Note.-The prohibition of the importation of opium according to the existing treaty remains in full force.) Iron, in pigs or bars, sheet iron and iron wire, tin plates, white sugar, in loaves or crushed, glass and glassware, clocks, watches and watch-chains, wines, malted and spirituous liquors.

ART. 3. The citizens of the United States importing or exporting goods shall always pay the duty fixed thereon, whether such goods are intended for their own use or not.

ART. 4. This convention having been agreed upon a year ago, and its signature delayed through unavoidable circumstances, it is hereby agreed that the same shall go into effect at Kanag wa, on the 8th of February next, corresponding to the first day of the first month of the fourth Japanese year of Bunkin Ñe, and at Nagasaki and Hakodate on the 9th day of March next, corresponding to the first day of the second month of the fourth Japanese year of Bunkin

Ne.

Done in quadruplicate, each copy being written in the English, Japanese and Du..h languages, all the versions having the same meaning, but the Dutch version shall be considered as the original.

In witness whereof, the bove named plenip tentiaries have hereunto set their hands and seals, at the City of Yedo, the twenty-eighth day of January, of the year of our Lord one thous and eight hundred and sixty-four, and of the independence of the United States the eightyeighth, corresponding to the twentieth day of the twelfth month of the third year of Bunkin Se of the Japanese era.

ISEAL.

ROBERT II. PRUYN.

And whereas the said convention has been duly ratified on both parts:

Now, therefore, be it known, that I, Andrew Johnson. President of the United States of America, have caused the said convention to be made public, to the end that the same and every clause and article thereof may be observed and fulfilled with good faith by the United States and the citizens thereof.

In witness whereof I have her unto set my han i and caused the seal of the United States to be affixed.

Done at the City of Washington this ninth day of April, in the year of our Lord one thou[SEAL] sand eight hundred and sixty-six, and of the Indepen dence of the United States of Amrica the ninetieth.

By the President:

ANDREW JOHNSON.

WILLIAM H. SEWARD, Secretary of State.

SAN FRANCISCO,-ITS DEBT, VALUATION, AND TAXATION.

The funded debt of the City and County is $4,968,393, against which sinking funds have accumulated to the amount of $1,000,000, and the provisions aredeemed ample for the retirement of bonds within the several periods of maturity. The cash on hand in the treasury at the end of 1965 was $415,000, exclusive of sinking and interest funds. The outstanding bonds and interest are classified as foilows;

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School Bonds of 1860, due 1870, 10 per cent.
School Bonds of 1861, due 1870, 10 per cent.

55,500

18,000

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Railroad Bonds of 1862 and 1863, due in 1877 and 1878, 7 per cent
Judgment Bonds of 1863 and 1964, due 1883 and 1884, 7 per cent
Pacific Railroad Bonds of 1864, due in 1894, 7 per cent
Pacific Railroad Bonds of 1865, due in 1895, 7 per cent

300,000

1,004,393

400'000

250,000

$4,968,393

Total.......

The value of property included in the assessment roll of last year, amounts to $49,138,027 real and $39,775,496 personal estate-in all $88,913,523; of which sum about $21,000,000 will be exempt from taxation, or subject to litigation on questions pending in the Supreme Court, in which is involved the legality of taxing mortgages upon property already assessed to owners of the estate.

Taxes for State, and city and county purposes, are as follows:

City and County

|State

General purposes....

General fund..

$0 70

$0.481

School fund

35

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Interest and sinki'g fund, 1857.
Interest and sinki'g fund, 1860.
State Capitol

30

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Soldiers' relief fund

Judgment bonds of 1863 and 1864,

Aid to Central Pacific Railro'd.

sinking fund

7

Interest on said bonds.

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Bonds of 1855 sinking fund

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Pacific R. R. bo'ds sink'g fund.
Interest on Pacific R. R. bonds.
Street department fund......

Benefit of line officers, C. V

Soldiers' bounty fund..

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.$1.15

...$3 12

Total for city & county purposes The progress of the city has been marked throughout the year, andit is estimated that 1,075 new buildings were erected, making an aggregate of 15,500 in the city and country. Although real estate, in certain portions of the city, was freely offered for sale during the summer months, at lower prices than were ruling last year, a better demand seems to have prevailed the past few months for most descriptions of pro perty.

The following statement will serve to show the activity of the real estate market during the year 1865, and the comparison with 1864:

An abstract of Conveyances recorded in the offie of the County Recorder of the City and County of San Francisco, from January 1st to December 31, 1865, (both dates inclusive) exclusive of those made for nominal considerations.

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BANK NO ES.

A Parliamentary return shows that on the 13th of February, 1866, there were in the hands of the public Bank of England notes amounting to £20,763,000. 1,493,200 were £5 notes; 405,600 were £10 notes; the notes ranging from £20 to £100 amounted in value to £5,963,000, and the notes ranging from £200 to £500 amounted to 1,476,000; there were 1,702 notes of £1,000 out. All this is independ ant of notes to the amount of £6,287.000 remaining in the banking deparfment of the Bank of England unissued at the moment.

LAWS OF NEW YORK TAXING AUCTION AND BROKERS' SALES.

The following is an official copy of the law just passed by the New York Legisla ture, taxing sales of merchandise made by auctioneers or brokers:

LAWS OF NEW YORK-BY AUTHORITY. CHAP. 547.

An Act to amend chapter sixty-two of the laws of eighteen hundred and forty-six, and other acts additional to the same.

Passed April 13, 1866. The people of the State of New York. represented in Senate and Assembly, do enact as follows: SECTION 1. Section 1, chapter sixty-two, of the laws of eighteen hundred and forty-six, is hereby amended so as to read as follows:

All goods, wares and merchandise, and other species of personal property, which at any time shall be exposed to sale by public auction, or offered for sale by sample or otherwise by brokers, with the exceptions mentioned in the second section of this act, and in the filth section chapter seventeen, of part one, of title one of the Revised Statutes, shall be subject, each and every time that they shall be sold, to fees or duties at the following rates, namely:

1. All wines and ardent spirits, foreign or domestic, at the rate of one dollar on every one hundred dollars.

2. All goods, wares, merchandise and effects, imported from any place beyond the Cape of Good Hope, at the rate of fifty cents on every hundred dollars.

3. All other goods, wares, merchandise or effects, which are the production of any foreign country, at the rate of seventy-five cents on every one hundred dollars.

These fees shall be calculated on the sums for which the goods so exposed or offered for sale shall be struck off or sold, and shall in all cases be made by the person making the sale; and the account, to be made in writing, as directed by section iwenty-seven of title one of chapter seventeen of part one of the Revised Statutes, shall be made by every auctioneer and broker under oath, on the first Monday in July and January in each year, subject to the penalties for non-compliance imposed upon auctioneers in said title. One-half of the fees or duties to which damaged goods are now subject shall be paid into the treasury of the State.

Sec. 2 Section two of chapter three hundred and ninety-nine of the laws of eighteen hundred and forty-nine is h reby amended so as to read as follows:

The Comptroller is hereby authorized to employ an agent or agents, whose duty it shall be to carry this act into effect, who shall examine, as often as twice in each year, and whenever the comptroller deem it necessary, the books and accounts of sales kep by the auctioneers, who shall have given bonds for the payment of fees or duties on goods sold at public auction, and of brokers who shall have given bonds for the payment of fees or duties on goods vended by them, as si ecified by law. The compensation of such agents shall be fixed by the Comptroller; and such agent or agents shall have full power to administer an oath to each auctioneer or broker, and to require such information as may be necessary to ascertain the true amount of goods sold by such broker or auctioneer.

SEC. 3. No person authorized to exercise the office of an auctioneer shall exccute the duties of such office, and no broker engaged in selling goods, wares, merchandise or effects, subject to fees or duties by the laws of this State, shal engage in such business until such broker or auctioneer shall have entered into a bond to the people of this State, with two sufficient free holders as his sureties, in the penalty of five thousand dollars each, conditioned for the faithful performance of the duties of his office, and for the payment of the fees or duties that are or shall be imposed by law, and that shall accrue on sales made by him or under his direction, by virtue of his office. Such bond shall be taken and approved by the agent appointed by the Comptroller, in pursuance of chapter three 1 undred and ninety-nine of the laws of eighteen hundred and forty-nine; but if executed in a city where there is no such agent, it shall be taken and approved by the mayor or recorder of such city; and if executed by an auctioneer appointed for a county, shall be approved by a judge of the county court for such county; such bond when executed shall be transmitted to the Comptroller, within ten days after such execution, and a copy placed on file in the office of the agent, or where there is no agent, in the office of the county clerk of the county in which the same shall have been taken and approved. The fees to be paid to the agent approving such bonds shall be five dollars; and for approval of the returns to be made of sales, three dollars; and for fi ing the duplicate copy of the aforesaid bond, fifty cents; every broker or auctioneer who shall sell any goods, wares, merchandise or effects, as specified in this act, without having filed the bonds required by law, or who shall neglect to make or render the accounts, or pay over the duties required by law, shall be deemed guilty of a misdemeanor, and punished by imprisonment not exceeding one year, or by fine not exceeding one thousand dollars, or by both such fine and imprisonment. STATE OF NEW YORK,

Office of the Secretary of State.

I have compared the preceding with the original law on file in this office, and do herel y certify that the same is a correct transcript therefrom snd of the whole of said original law. FRANCIS C. BARLOW, Secretary of State.

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