From this, it appears that an acre planted with potatoes will support as many persons as four planted with oats, or three with wheat. The increased population of Ireland, which rose from 6,036,000 in 1812 to 8,179,359 in 1841, was mostly sustained by potatoes, taking patches from grain lands and planting with potatoes. In the English manufacturing districts the same process enhanced the quantity of cheap food to the operatives, until it was estimated in 1846 that 3,400,000 acres were planted with potatoes, yielding 30,600,000 tons of food. Of this, 60 per cent perished by rot, and the cultivation of potatoes has been abandoned to an extent which requires an addition of at least 150,000,000 bushels of grain to her average harvest. Notwithstanding the low prices of the past summer, the imports into England amount to 1,000,000 bushels per week, and by recent advices a considerable advance in prices. AVERAGE PRICE OF WHEAT IN ENGLAND FOR FOUR YEARS. 66.10 45. 2 55. 3 August 5... It is to be observed that prices have ruled higher during the present year thus far than in 1845, notwithstanding the alleged large supply of both home and foreign grain, and that prices at the present date are higher than in 1846, immediately preceding the great rise in prices, and are now advancing, when at that period they were falling. In order to illustrate the actual annual large demand for grain in England, we may take the following return, published by order of the House of Lords, of the quantity of grain of all sorts taken out of bond in the United Kingdom, yearly, for the last twenty years, giving the following totals :— Total corn Total meal and grain. Quarters. 2,083,700 2,995,116 Crots. and flour. Years. 65,940 1838.. 41,724 1839.. Years, 1826.. 1827.. 1828.. 1,200,167 126,343 1840.. 3,444,345 1,312,964 1829. 1,864,804 337,066 1841.. 2,921,329 1,210,137 1830.. 2,580,403 564,442 1842.. 3,160,430 1,132,385 396,902 36,916 1848, 7 months.... 2,461,508 1,195,958 828,072 40,273 The great element of the enormous consumption of last year at the high prices indicated above, was the railroad expenditure. These continue this year, aided by low prices of grain. The number of persons employed by the companies is over 350,000, per official reports, and the "calls" for July amounted to £3,885,021, say $20,000,000, being at the rate of an annual expenditure of $250,000,000. With this element of the means of popular consumption, the prospect is now that the demand will be enhanced by damaged harvests; and it will be remembered that the duties come off finally in February, 1849, after which the trade will be free. Under these circumstances, it is not improbable that the present will be the lowest year of export of farm produce for many years to come. The capacity of the United States to supply food in almost any quantity, is becoming more apparent each year. As an indication of this, we compile from official sources the number of acres of land sold by the federal government in each of the agricultural States:— Total......... 4,719,479 12,475,349 9,839,971 8,423,709 6,744,417 These figures represent the breadth of land taken annually by each State directly from the federal government. In the years 1835-6, when speculators were appropriating large tracts, with the view to compel settlers to pay high prices, a small proportion only of the sales fell into the hands of the immigrants. These lands have since been gradually purchased to some extent for cultivation, and have in that proportion competed with the subsequent sales of the government. In the last two years the sales of the government lands have considerably revived. The progress of national exports do not seem to have kept pace with the settlement of the lands. The following table shows the quantities of certain articles sent out of the country : EXPORTS OF LEading articles of united states PRODUCE AT DIFFERENT PERIODS. 7,421,179 10,806,615 147.998 135,762 Tobacco........hhds. 83,186 119.484 147,168 Cotton.......... lbs. 63.914.459 124,893.405 276,979.784 743,941,061 872,905.996 547,557.000 527,219,985 Manufactures......$ 2,120,000 2,754 631 7,147,364 9,410,200 9,130 000 10,525,064 10,476,345 Amer. tonnage ent.. 1,089,876 769,C84 914.704 1,576.946 2.035,486 2,151,114 2,701,359 Population.......... 6,000,000 9,638,131 12,866,020 17,063,353 20,000,000 20,600,000 22,000,000 From 1807 to 1840, the value of provisions exported did not maintain itself. It has since quadrupled, and has become the second item in our list of exports, with every probability of becoming ultimately the first. The cotton culture has, on the other hand, received an evident check. The following table shows the quantity of land purchased of the federal government annually in the new cotton States: ACRES OF UNITED STATES LANDS SOLD IN THE SOUTH-WESTERN STATES. This table gives the quantities of land in these cotton States, and the influence upon the cotton culture is seen in the following table of the annual product of those States. The receipts of cotton at New Orleans embraced the Arkansas, Louisiana, Mississippi, and Tennessee crops; and those of Mobile and Florida the product of those States respectively. ACRES OF LAND SOLD, AND CROPS OF COTTON IN THE SOUTH-WESTERN STATES. 1846.. 220,240 1,037,144 1,600,294 500,243 1847. 272,808 621,358 1848... .......... 527,540 421,966 141,184 There has been sold, it appears, in these five cotton States since 1833, 20,774,556 acres of new land. Of these, particularly in Louisiana, a considerable quantity has been appropriated to sugar; but from the results, it appears that the largest proportion has gone to cotton culture, and the consequence is, that in the year 1843 the crops reached a maximum of 2,378,875 bales, of which 1,703,048 was in those new States, and their yield is a little more this year, but the production of the old cotton States has not varied. In the five new States, the settlement of 20,774,000 acres of land has resulted in an increase of 1,200,000 bales in the 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 Bainbridge. Bank of Cayuga Lake... Bank of Central New York Bank of Chenango. ..Ithaca.... ....Utica... Bank of Corning.. .Norwich.... .Corning.. .Dansville. .Fairport.. ..New York State Bank..... Albany. ..New York State Bank... Albany. .N. York. .Albany Exchange Bank.... Albany. .Vernon...... ......Watertown. ...Waterville.... |