SUPPLEMENT TO WC ULLOCH'S COMMERCIAL DICTIONARY.
THE object of this Commercial Annual is to preserve the value of the author's original work, by correcting its unavoidable de- ficiencies, adding to its information, and noting the changes which are constantly taking place in the numberless and ever-varying subjects of which it treats. Is a law altered or amended—the scope of the alteration, the statute itself, or its leading provisions, is recorded in the Supplement. Is a duty lowered--the pleasant fact is there stated. is any new statistical information relating to trade produced, at home, abroad, or from our Colonies—a place is found for it under its appropriate head. Nor are the floating knowledge and the working circumstances connected with com- mercial affiiirs altogether overlooked ; the Professor, as in the main body of his ponderous work, passing his judgment upon the facts he chronicles, when he deems it called for. To all possessors of the Commercial Dictionary, this Enlarged Supplement is there- fore indispensable; whilst to every one concerned in the matters of which it treats, it affords a fund of information not elsewhere procurable, and at a price so low that nothing but the prospect of a certain sale could warrant it. To the speculative or the practi- cal politician its pages also teem with subjects for reflection, or hints for effecting improvements. Let us render our meaning clearer by an instance or two.
The traveller, in passing through a country, may form a judg- ment of its wealth from the cultivation of its lands and the number of its houses, and he may guess at the civilization of its people from their civility ; the stay-at-home may try to estimate the power of a nation from the number of its people and the soldiers it maintains; but commend us to BANKS as the true barometers of civilization, wealth, and strength. And very effectively this test is supplied, as regards America, by Mr. M'CuseocH's publi- cation of a table containing the "Number of State Banks in each State of the Union, exclusive of Branches, with the aggregate amount of their paid-up Capital." Guided by that, we would back the North against the South in all points. Superficially compare the little State of Massachusetts, with its area of only 7,800 square miles and its population of 610,000 souls, with the 64,000 square miles and the 1,211,000 free people of aristocratic and slave- holding Virginia ; and who but the planters. Glance at the list in M'CueeocH's Supplement— Massachusetts furnishes 102 money-changing establishments, with a paid-up capital of more than 28 millions of dollars; whilst Virginia affords but 4 banks, and 53: millions of the needful. Those of New York are 87 in Humber, with a capital of 311 millions; the area of the State is 46,000 square miles, and its population 1,900,000. The combined surface of the two Carolinas and Georgia is 132,000 square miles; but their population only 1,800,000, their banks 24, their capital 171 millions. The most extraordinary instance, however, of Com- merce versus Agriculture, and of the effects of concentration in pro- moting activity and in raising the sinews of war and the means of taxes, is the petty State of Rhode Island. This county, as it may be termed—for it is less than Kent—with only 1360 miles and 97,000 souls, has 51 banks, with about 71 millions capital; surpassing in this respect many of the old Southern States, with territories from ten to sixty times its size, and a free population from four to twelve times its number. It may be remarked too, but with- out attempting to draw any conclusion from the fact, that in the older States the Banks are more numerous in proportion to the capitals than in the Southern or newly-settled States : thus the twenty-seven establishments of Rhode Island have little more than 7 millions, a sum which is possessed by three banks in Mis- sissippi.
This is speculation. Here are a couple of practical suggestions for improvements, apparently small, but not unimportant, and not the less so for being capable of easy accomplishment.
A HINT TO " THE TRADE."
Smitogliny of English Books from Abroad. —Very considerable loss is sus- tained by literary men and booksellers, by the clandestine importation of Eng- lish works printed abroad, of which the copyright has not expired. There is !may, in fact, one of our popular authors, copies of whose works, printed in France or America, may nut be readily procured in London ; and as those by whom they are printed have neither copyright nor paper.duty to pay, they are able materially to undersell the native article. It is surely unnecessary to say, that every practicable efFort should be made to hinder such an invasion of pri- vate property ; and in this view we beg to suggest, that the permission given to persons einning from abroad to bring with them single copies of all prohibited works, ought to be withdrawn. It opens a dour for smuggling and fraud ; and there is neither sense nor justice in allowing any individual to invade the rights of another, merely because he has been across the Channel. A specific penalty, recoverable by a summary process, ought also to be imposed on every individual offering such hooks for sale. 'ibis would be much more effectual in preventing such practices than the existing law..
A HINT TO WINE-RIBBERS.
We notice the propriety of enacting and enforcing some regulations as to the size of bottles. The bottle is, in tact, a very important measure; a great deal of wine and other liquors being sold by the dozen. But there is at this moment the greatest discrepancy in the size of bottles; and it appears to us that it would be highly expedient, in order to obviate the numerous frauds arising from this source, to enact that all bottles be made to contain not less than a certain speci- fied quantity, and to place them under the acts relating to weights and measures.
There is a valuable table on page 5, to which we may call the attention of economical Members of Parliament and constituencies, though we shall only state the result. It exhibits a tabular view of the military, naval, and civil expenditure defrayed by Great Britain in each of our Colonies; the sum total of which is 2,364,3091. Surely there must be room here for retrenchment. The country, we dare say, would like to hear the sufficient and specific reason why reduction has been carried as far as is prac- ticable consistently with safety in this department. Perhaps some competent Member will shortly ask the question, in such a manner as shall compel a distinct reply. We will close with an extract from TCCQUEVILLE, for the pur- pose of relieving Mr. M'CuseocH's mind on a matter that clouds it. In noticing the triumph of General JACKSON and the approach ing end of the United States Bank, the Professor sighs over his dis- appointed " anticipations," {Die. p. 109.); and still maintains the impolicy and danger of the proceeding. It will be a comfort at least to know that his warnings have not been slighted on scien- tific grounds; and that there is nothing in the conduct of the Yankees " personal" to his Political Economy.
"When the President attacked the Bank, the country was excited, and par- ties were formed ; the well-informed classes rallied round the Bank, the com- mon people round the President. But it must not be imagined that the people had formed a rational opinion upon a question which offers so many difficulties to the most experienced statesmen. The Bank is a great establishment, which enjoys an independent existence; and the people, accustomed to make and un- make whatsoever it pleases, is startled to meet with this obstacle to its authority, lu the midst of the perpetual fluctuation of society, the community is irritated by so permanent an institution, and is led to attack it, in order to see whether, it can be shaken and controlled, like all the other institutions of the country."
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