crop of cotton, more than doubling the product of 1833. The increase of the force applicable to the cotton culture has been greater in the last five years than the result of the crops, the aggregate of which has increased but very little since 1840, or in the last eight years, while in the previous eight years it had doubled. JOURNAL OF BANKING, CURRENCY AND FINANCE. FINANCES OF BRAZIL. EXPENSES, DEBT, AND REVENUE OF THE BRAZILIAN EMPIRE. We are indebted to the courtesy of L. H. F. D'AGUIAR, Consul General of Brazil to the United States, for the following statement of the financial condition of the Brazilian empire, as also for the commercial statistics of that country, which will be found under the appropriate department in the present number of the Merchants' Magazine, &c.:— According to the Annual Report of the Secretary of the Treasury, presented to the Chambers of Representatives in May last, the Secretary shows the following items of the expenses of the empire for the fiscal year 1849-50: In the expenses of the Treasury no less than 8,436: 855$444 is applied for the interest and sinking fund of the National Debt, which is at present as follows:- Which has always been punctually paid every six months; and the funds sent to London by the government from April, 1847, to March, 1848, amounted to £422,463. According to official documents, the following has been the commerce and revenue of PENNSYLVANIA BANK CHARTERS. The following banks have given notice that they will apply to the next Legislature of that State for charters. There are seventeen applications for renewals: Bank of Northern Liberties; Bank of Pennsylvania; Farmers and Mechanics' Bank, Philadelphia; Bank of Germantown; Bank of Chester County, West Chester; Bank of Delaware County, Chester; Bank of Montgomery County, Norristown; Wyoming Bank, Wilkesbarre; Farmers and Drovers' Bank, Waynesburg, Green county; Harrisburgh Bank, Dauphin county; Lebanon Bank, Lebanon county; Columbian Bank and Bridge Company, Lancaster county; Lancaster Bank; Dauphin Deposit Bank, Harrisburgh; Bank of Chambersburgh; Farmers' Bank, Bucks county, Bristol; Monongahela Bank, Brownsville, Fayette county. NEW BANKS. City Bank, Philadelphia; Anthracite Bank, Tamaqua, Schuylkill county; Pottstown Bank, Montgomery county; Freeport Bank, Armstrong county; Mechanics' Bank, Minersville, Schuylkill county; Pittsburgh Savings Bank. THE BANKS OF NEW YORK STATE. The following List of the several Banks of the State of New York, with the names and residences of their respective Agents at this date, pursuant to Chap. 202, Sec. 3, Laws of 1830, was prepared at the Comptroller's Office, July 1, 1848: Bank of Lake Erie.... Bank of Orleans...... Bank of Salina..... Bank of Saratoga Springs.. Bank of Syracuse... Bank of Utica.. Branch of Bank of Utica. Bank of Vernon..... Bank of Watertown Bank of Waterville Bank of Whitestown.. Bank of Westfield.... Broome County Bank.. Catskill Bank...................... Utica....... Residence. .Albany. Albany. N. York. .Albany. .Albany. New York State Bank.....Albany. ..New York State Bank...... .Albany. Washburn and Co..........Albany. .....Washburn and Co.. .Albany. ..Albany Exchange Bank.... Albany. .N. York. Albany. .Albion...... ....New York State Bank.. .... N. York. Farmers' and Manufacturers' Bank. Poughkeepsie.... Phenix Bank....... Fort Plain Bank. Jefferson County Bank.. Bank of State of N. York.N. York. ..Albany City Bank... Albany. .Martinsburght. ....Canal Bank...... .Albany. ...Geneseo... .New York State Bank..... Albany. Lockport Bank and Trust Company. Lockport. ........ Mech. and Farmers' Bank.Albany. James Bank.... Kingston Bank. Kirkland Bank. Lewis County Bank.. Livingston County Bank.. Luther Wright's Bank... McIntyre Bank................ Madison County Bank... Merchants' Bank... Merchants' Bank...... Merchants' Bank of Erie County... Buffalo... Merchants' and Farmers' Bank......Ithaca..... Carmel... ..Oswego.... ...New York State Bank.....Albany. Merchants and Mechanics' Bank... Troy.. Mohawk Bank..... Montgomery County Bank.. Mohawk Valley Bank.. New York Security Bank.. New York Stock Bank... * Canal Bank failed July 11, 1848. ..... Name of the Bank. Northern Exchange Bank... Oliver Lee and Co.'s Bank.. Ontario Branch Bank...... Yates County Bank... .Utica........ .Albany City Bank........... .Albany. .Palmyra...... .Pine Plains. ..Buffalo... .Henry Dwight, Jr...........N. York- ..Albany. ...Albany. NEW MONETARY ORGANIZATION IN HOLLAND. A new monetary organization has been adopted in that country, and a decree issued in consequence concerning the details of its regulation, in accordance with laws passed by the legislature and approved by the executive. The preamble of the decree recites, that from the point already arrived at of the refount of the old money, the adoption of a simple standard of value, that of silver, is rendered desirable, with the introduction of other ameliorations in the monetary system of Holland, as well as the reunion in one law of all the dispositions which relate to the monetary system. For these reasons, it is decreed that the money of the state shall consist hereafter in legal pieces, moneys d'appoint, (or supplementary moneys,) and commercial moneys. The legal pieces in silver (Art. 2 of the decree) are thus designed: The florin to form the union of the monetary system of Holland. The ryskdaalder, or piece of 24 florins. The half florin, or piece of 50 cents. Art. 3. The money d'appoint in silver (supplementary for change) to consist of pieces of 25 cents, 10 cents, and 5 cents. Art. 4. The money d'appoint in copper to consist of pieces of 1 cent, or the hundredth part of the florin, and of a half cent. *Revoked July 17; Albany City Bank appointed. Revoked July 18; Mechanics' and Farmers' Bank, Albany, appointed. Art. 5. The commercial moneys to be the gouden Willem (golden Williams) and the golden ducat. Of those moneys double pieces may be struck, and of the first kind halves. Art. 6. The florin to contain 9 grammes 450-1000 of fine silver. The weight of the florin to be 10 grammes, with a tolerance of 3 milligrammes above and below the weight. The title to be 0.945 milliemes of fine silver, with a tolerance of 1 millieme, as well above as under the weight. /Art. 7. The weight of the ryskdaalder to be 25 grammes; that of the half florin 5 grammes; that of the piece of 25 cents 3 grammes 575 milligrammes; that of the 10 cents piece 1 gramme 400 milligrammes; that of the 5 cents piece 685 milligrammes. The allowance of weight is, for the ryskdaalder, 2 milliemes; for the half florin, 5 milliemes; for the piece of 25 cents, 6 milliemes; for the 10 cents piece, 10 milliemes; for the piece of 5 cents, 12 milliemes of gramme, as well above as below. Art. 8. The title of the ryskdaalder and half florin to be the same as that of the florin, with the same tolerance. The title of the money d'appoint in silver to be 640 milliemes, with a tolerance of 4 milliemes above and below in weight. Art. 13. The gouden Willem to contain 6 grammes 56 milligrammes of fine gold. The weight of the gouden Willem to be 6 grammes 729 milligrammes, with a tolerance of 13 millieme of the weight above and below. The weight of the double gouden to be 13 grammes 458 milligrammes, with a tolerance of 1 millieme of the weight above and below. The weight of the half gouden to be 3 grammes 3644 milligrammes, with a tolerance of 2 milliemes of the weight above and below. The title of the gouden Willem, as well as of the double and half, to be 900 milliemes, with a tolerance of a half millieme above and below. Art. 15. The golden ducat to contain 3 grammes 434 milligrammes of fine gold. The weight of the gold ducat to be 3 grammes 494 milligrammes, with a tolerance of 1 mil. lieme of the weight above and below. The weight of a double ducat to be 6 grammes 988 milligrammes, with a tolerance of 1 millieme of the weight, above and below. The title of the simple as of the double ducat of gold to be 983 milliemes, with a tolerance of millieme, above and below the weight. In the meantime, and as the new system comes into usage, all old coins and denominations of specie values, in circulation according to former laws, to remain still legally current, and receivable in all payments as before. BANKS AND BANKING IN IRELAND. Previous to 1783, the whole of the banking business was carried on by private individuals. The failure of many of these led to the establishment, in that year, of the Bank of Ireland, with similar privileges to the Bank of England, the most important of which was, the restricting of all other banks to six partners each. In 1797, when the Bank of England suspended its payments, the same privilege was extended to Ireland. After this period, the issues of the Bank of Ireland were rapidly increased. In 1797, the amount of its notes in circulation was £621,917; in 1810, £2,266,471; and in 1814, £2,986,999. Its capital, originally £600,000, was increased at different periods, and now amounts to £3,000,000. It draws on London at ten days' date, grants no cash credit, nor allows interest on deposits. In 1804, there were fifty private banks in Ireland, all of which have failed or wound up their accounts, except three in Dublin that continue to transact business. About that period the silver currency of the country, though generally in a debased state, became more valuable in the form of bullion, and was all melted down. The place of the coins was supplied in Dublin, and many other parts, by counterfeits; and, in several districts, by a paper currency, issued for sums decreasing from 6s. to 3d., and even less. It is estimated that in 1804 there were 295 issues of this paper money, chiefly by merchants, shopkeepers, and petty dealers. The mischiefs arising from this system led at length to its suppression by law, and the wants of the trade were supplied by stamped dollars rated at 68., and by silver tokens of 10d. and 5d., issued by the Bank of Ireland. In 1821, the charter of the Bank of Ireland was renewed for seventeen years, and its capital was enlarged to £3,000,000, of which £1,615,384 was deposited with government at 4 per cent, and £1,015,384 at 5 per cent; total, £2,630,768. The yearly dividends of the bank have been at no time less than 5 per cent, except in 1783-4, when they were 5, and in 1792–3, 2. From 1800 to 1814, they were 7, 74, and 7; from 1814 to 1829, 10 per cent, excepting two years; and since 1829, the rates have been 9, 84, and 8 per cent. Besides these dividends, the proprietors, at different times since 1793, have received bonuses amounting to £665,000 Irish. On the renewal of the Bank of Ireland's charter in 1821, joint stock banks were allowed to be established beyond 50 miles Irish from Dublin; but the arrangement was inoperative until several vexatious restrictions were repealed in 1824. |