Increase of whites in the Northern States for the sixty years nearly 700 per cent, or average decennial increase over 100 per cent. 1790... SOUTH--WHITES. 1,271,488 6,295,273 Increase in the Southern States for the sixty years over 500 per cent, or average decennial increase about 85 per cent. The proportion of free colored in the Northern States was about 1 per cent in 1790, and in 1850 the same to the whole population. The population of free colored in the Southern States was about 24 per cent in 1790, and 34 per cent in 1850 to the whole population. By counting the slaves with free colored, in 1790, in the Northern States, (and the slaves in those States were all in a condition of partial freedom,) the proportion to the whole population was about 4 per cent, so that the colored population is gradually disappearing in the Northern States, while, notwithstanding slavery, the free colored are increasing their percentage of the whole population of the Southern States. Take all of the New England States and the State of New York together, and from 1840 to 1850 the aggregate of the free colored population was reduced 571 during the ten years; conclusively showing that, where the colored man was in the enjoyment of freedom, without interruption, he was gradually disappearing as a people. The negro is really incapable of sustaining himself effectively in the struggle of races in the more northerly of the States, because, wherever he is obliged to protect himself against inclement seasons, he gives way to the Caucasian, and gravitates to the warm latitudes as naturally as water seeks its level. Thus, the folly of the contraband agitators, when they urge that free-negro labor will drive out white labor, is as apparent as words and figures can make any proposition. What has the white race to fear in a contest with the negro race? Absolutely nothing at all while the negro is in a condition of freedom, as we have shown. POPULATION OF FRANCE COMPARED WITH OTHER EUROPEAN COUNTRIES. It was, at the last census, 1861, 37,382,215 persons, being an increase by excess of births in five years of only 673,802, the rest of the increase being caused by the annexation of Savoy and Nice, 669,059. This small increase by births is, however, great compared with the former census five years before, which was only a quarter of a million. The country is now more prosperous than it was from 1851 to 1856. Yet in a great many country departments there has been a decrease, for the people migrate from the country into the towns. The increase of population in France is less than in most others of the great nations of Europe. In Russia the population has doubled itself in fifty years. In the same time From 1855 to 1859 the births have been to every 1,000 of the population in Thus the births in France are fewer than in any other of the compared countries, and one-third less than in Russia. The marriage rate, notwithstanding, is about the same, but the fecundity of marriage is in Thus in Prussia one child is born in every family about every two years and five weeks, while in France one comes about every two years and forty-two weeks. The death-rate is thus compared; there die yearly in every thousand persons in France and Great Britain thus show a great advantage over other countries, being indeed more "healthy, wealthy, and wise;" so that the increase of population in France is attributable quite as much to the longer lives as to the excess of births. There are more people existing in France at any compared time, because each person lives longer than formerly, and longer than in any other country now. So low is the excess of births that it is eight times more in Great Britain, six times more in Prussia, five times more in Russia, three times more in Austria than it is in France. The French statist (M. BLOCK) considers all this less due to physical than moral causes; the conscription, the late age at which Frenchmen generally marry, and the limit which they put to the number of children they desire to have, are causes which have much influence in retarding the population of France. (From the Statistical Journal, vol. xxv., page 74.) The people of France are very industrious, very thrifty, and as their trade and commerce increase they must become-each individual of them -better off, richer, and enjoy year by year more of the good things of this life. Surely, with the securities of good government, with increas ing knowledge, the population almost stationary, and the greater wealth, misery must in the end be beaten off. COMMERCIAL CHRONICLE AND REVIEW. DEPRECIATION-ERRONEOUS IMPRESSIONS-PAPER OF THE REVOLUTION-ISSUES OF FRANCE-IN ENGLAND DIMINUTION OF PAPER CURRENCY-NO DEMAND FOR GOODS OR CROPS - UNITED STATES THE ONLY CUSTOMER-PAY IN PAPER-INVESTED IN STOCKS-ASSISTANT TREASURYNEW YORK DEPOSITS-LARGE PAYMENTS-U. S. DEPOSITS-RISE IN STOCKS-INTEREST IN COIN ILLINOIS TAXES IN COIN-FUNDING LOAN AND NOTES-LARGE SUPPLY OF MONEY-RATES OF SMALL NOTES-SPECIE MOVEMENT-INCREASING EXPORTS OF COIN-SPECULATION IN GOLD -EXCHANGE RATES - PRODUCE EXPORTS-FALL IN PRICES BUSINESS OF NEW YORK-IMPORTS AND EXPORTS-CUSTOMS-REVENUE-TAXES-ABORTION BILLS-EXCHANGES-LANDED PPOPERTY ASSESSMENT OF STATES-STAMPS. THERE has been during the month considerable change in the flow of currency, and some progress in the depreciation of paper, which, at the date of our last, had not manifested itself to any extent. The fact that paper had been made a legal tender, and the suspension of the banks recognized without bringing with it an immediate rise in gold and prices, was regarded in many quarters as an evidence that the laws of finance and currency, as has had been understood in the last fifty years, were unsound, and that paper promises were after all as good for money as any thing else. We, at that time, pointed out wherein this view was not tenable, and that the inevitable effects of paper money would make themselves felt. Even in the war of the Revolution, after large sums had been issued, the depreciation was not very great for the first two years. In the French war the assignats maintained their value pretty well for two years under enormous issues. In this last year the U. S. issues have been really very small, for the reason that the paper of banks was largely withdrawn, and most of the gold in circulation had passed into private hands. Had there been much general business done under these circumstances there would have been an intolerable stringency for money. As it was, there was little business to demand the use of money. The stocks of goods, produce, merchandise, ships on hand, were, to a great extent, dead stock. There was no demand for money to invest in them, because the usual markets for sale were cut off. Cotton, tobacco, and rice usually demand $400,000,000 of money to move them. This year not a dollar was required. In ordinary years $500,000,000 is invested in raw materials, goods, etc., to work up or sell to consumers. This year very little was required. The only customer was the government. It took arms, merchandise, munitions, ships, etc., for its own use, but did not pay for a long time. The owners made good sales, but did not get their money until this spring to any extent, when the legal tender notes were ready they got their pay. They did not, as in ordinary times, reinvest in similar goods to carry on business, but the money was idle. As a consequence it sought investments, and the government stocks rose rapidly. The operation is seen in the following table, which shows the receipts and payments at the New York Assistant Treasury, the deposits in the banks, and the prices of stocks and gold: The demand notes of the government being ready for issue in April, the payments at the treasury became large, and as the amount increased, the deposits at the banks flowed over and found their way back to the government vaults in exchange for five per cent certificates of deposit, payable at ten days' notice. The amount of these was limited by law to $50,000,000. As the sum of the deposits approached that limit, the government gave notice that it would take no more at a higher rate than four per cent from the public, but that the banks might have five per cent. The limit was soon filled; but a portion of the deposits had, in the early days of the movement, been made in the old or August notes receivable for customs, the government gave notice that these would be paid off, and the new notes were substituted for them, thus keeping the legal limit full. The department then, by virtue of a loan authorizing temporary loans, again took deposits at 4 per cent. These deposits sustained the payments of the government and returned again to the banks, and then sought the general market under the necessity of investment. ernment stocks rose 12 per cent from April 5 to May 17. of the several descriptions are as follows: The gov The prices The theory is that the interest on all these stocks is to be paid in specie. In pursuance of this object the department, when the 7 3-10's 3-year bonds were at 3 premium, nearly the same as gold, exchanged with the banks about $6,000,000 dollar for dollar. This supplied the government with the amount required to meet the June and July interest on the public debt. Most of the States also pay their interest in coin, and much of it is due abroad and will be shipped. In Illinois the State Treasurer decided that, under the State constitution, he could take nothing but gold and silver in payment for taxes. This is in direct contravention of the legal tender notes, which makes them receivable for all debts public and private. A made case was carried before the Supreme Court of Illinois, which sustained the Treasurer in the decision, hence Illinois taxes are to be paid in specie. The amount of notes authorized for the Treasury to issue is nearly expended, and the chances are that a fresh amount may be authorized. The department has given notice to fund the outstanding demand notes in a six per cent five-years' stock. Only about $250,000 have been so funded. The customs continue to absorb over $1,000,000 per week of the old or August notes, which are not reissuable, but which command a premium of five-eighths per cent, because of their faculty of being used for customs instead of gold. Where the duties were paid in these notes in a round sum, and there was a balance to be refunded on settlement of the duties, the department paid back new notes. This was protested against, and the Secretary ordered the repayments to be made in the same kind of money as the payments. The rates of money have declined in the market as the abundance of it has increased. These rates are at least but nominal. Money has been loaned on the best securities at 3 per cent, and good paper is so scarce that many of the banks have passed discount days without the offering of a dollar, so great is the stagnation of business. The government paper is mostly issued in large notes. There are none less than $5, and very few less than $10 and $20. For the purposes of general business, smaller notes are required to take the place of the small gold coins, and the Western notes that have been withdrawn. It has therefore been the case that the banks have been very actively paying notes of small denomination in the last four weeks. The operations in gold during the year have been as follows: 1861. SPECIE AND PRICE OF GOLD. Received. Exported. Received. 11... $1,445,385 66 18... 1,446,219 " 66 25... 1,246,029 $22,855 Feb. 1... 1,514,154 289,669 66 9.. 1,052,313 115,698 15... 1,056,426 66 22... 627,767 854,000 123,316 22... 91,161 1862. Exported. Gold in bank. Price of gold. $442,147 $23,983,878 2 a 4 prem. $885,923 1,035,025 25,373,070 4 a 5 547,703 26,120,859 4 a 41 2 322,918 26,698,728 310,484 27,479,533 3 976,235 28,196,666 3 117,101 614,146 1,156,154 28,114,148 4 & 44 187,253 759,247 734,512 28,875,992 3 a 34 176,161 741,109 2 510,774 29,826,959 a 24 679,075 585,236 30,436,644 18 a 28 677,058 477,335 30,773,050 2 a 14 540,968 32,023,390 a 31 a 3 66 |
