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JOURNAL OF BANKING, CURRENCY, AND FINANCE.

CAPITAL AND DIVIDENDS OF NEW YORK CITY BANKS.

We give below a tabular statement of the capital of each bank in the city of New York, together with the dividends for 1851 and 1852, that is, the first semi-annual dividend of 1851, and the first and second semi-annual dividends of 1852. The charters of the City and the Butchers and Drovers' Banks expired this year, (1852,) deducting the extra dividends paid by them in conscquence, the banks divide $1,528,186, or an average of 4.31 per cent. For a statement of the location, discount-days, and dividend months, &c., see Merchants' Magazine for August, 1852, (vol. xxvii., page 223 :-)

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PRODUCTION OF PRECIOUS METALS IN THE WORLD.

The following table will exhibit the annual product of the precious metals at different periods :

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The total product of 1852 is estimated at $268,000,000, to be derived from the

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It will be perceived that until the discovery of the California mines, the quantity of gold in America was constantly diminishing. The Russian were discovered in 1809, but were not extensively worked until 1843. The California mines were discovered in April, 1848, and the Australian in February, 1851.

It will also be perceived, that the annual production of the precious metals, has become five-fold of what it was at the commencement of the present century. What it will be at the commencement of the next century, he would be a bold man who would venture to predict.

The amount obtained from the California mines in 1851, is estimated at $84,484,355. The following statement will exhibit the annual product of the precious metals at various periods prior to those named above:—

1492.. 1500..

$250,000 | 1600..

8,000,000 1700..

$11,000,000 23,000,000

The following statement will exhibit the quantity of the precious metals in existence

at various periods :—

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7,031,770,000

Of the latter amount, $4,600,000,000 is in silver, and the remainder in gold. The amount of coin in circulation in the world is estimated at $1,800,000,000; the remainder being absorbed in watches, plate, jewelry, &c. The annual depreciation by wear and tear of coin is estimated at a fourth of 1 per cent.

PROGRESS OF THE BRITISH PENNY POSTAGE SYSTEM.

[FROM THE LONDON ECONOMIST.]

In its way, the adoption of the "Penny Postage" was, perhaps, the largest experiment ever made: and it is not too much to say, that of its kind, it has been the most successful. But when we say so, we would not be understood to base its success upon the amount of net revenue which it returns to the exchequer. That we have always held, though an important, yet not the main object of a postal establishment. At best, a revenue to the State, over and above the expenditure, should be regarded rather as an incident, than the object of the post-office;-that being an easy, rapid, and cheap means of communication between the different parts of the country, and different portions of the empire. To a great commercial country like England, there is probably nothing so essential to a profitable development of its resources; nothing that tends more to promote its prosperity and increase of wealth; and few things which contribute more to social and intellectual enjoyment and improvement. To understand fully the effect of the "Penny Postige" upon our commercial and social existence, it is only necessary to reflect upon the consequences which would ensue were we to attempt to revert back to the old plan.

Since the first introduction of the uniform penny rate, there has been a rapid annual increase of letters without an exception in any one year. In 1839, the year preceding the reduction, the entire number of letters, including "franks," which passed through the post-office of the United Kingdom was 82,470,596; in 1840, the first year of the reduction, it rose to 168,768,344; since then the increase has been steady but rapid, until, in 1851, the number amounted to no less than 360,647,187. It is interesting to watch the progress of this increase. The following table is taken from a return which has just been presented to Parliament:

RETURN, AS NEARLY AS CAN BE ESTIMATED, OF THE NUMBER OF CHARGEABLE LETTERs deLIVERED IN THE UNITED KINGDOM, IN THE YEAR IMMEDIATELY PRECEDING THE FIRST GENERAL REDUCTION OF POSTAGE ON THE 5TH DAY OF DECEMBER, 1839, AND FOR THE YEARS 1840, 1845, 1850, AND 1851, SUBSEQUENT THERETO; ALSO, FOR THE FIRST YEAR, THE NUMBER OF FRANKS.

Year ending 31st December.

England and
Wales.

59,982,520

5,172,284

Ireland. Scotland. 8,301,904 7,623,148 1,054,508

336,232

Gross total U. Kingdom. 77,907,572

6,563,024

Estimated number of letters, 1839..
Estimated number of franks, 1839..
Estimated number of letters, 1840.. 182,003,525 18,210,642 18,554,167 168,768,344
Estimated number of letters, 1845.. 214,153,628 28,587,993 28,669,168 271,410,789
Estimated number of letters, 1850.. 275,252,642 35,388,895 35,427,534 347,069,071
Estimated number of letters, 1851.. 288,151,755 35,982,782 36,512,649 360,647,188

From this table, it would appear that the relative increase in Scotland and Ireland has been nearly the same, while that in England and Wales has been somewhat larger. But one of the most remarkable features in it is, that Scotland, with less than half the population, shows a somewhat larger number of letters than Ireland.

So far as regards the gross revenue collected, the year ending the 5th of January, 1852, is the first in which the amount is equal to the largest sum collected at the highest rates. The last complete year under the old rates was 1839, when the amount collected as gross revenue was £2,346,278; in 1841 it fell, with the reduction to the penny rate, to £1,359,466; since which time it has gradually increased, until, in 1851, it amounted to £2,422,168. But the enormous increase in the number of letters has

necessarily led to a large increase of expenditure in the management; and chiefly in consequence of the more frequent dispatch of mails, and the extensive employment of railways. But as frequent communication is one of the most important considerations in a commercial country, the additional cost is not to be compared with the great advantages thus secured to the public. In 1839, under the old, dear, and limited system of postal communication, the cost of management amounted only to £686,768, leaving a net revenue of £1,659,509; while in 1851, the cost of management has risen to no less than £1,304,163, leaving the net revenue £1,118,004. The following table, from the same return, shows the gross revenue, the cost of management, and the net revenue in each year since 1838:

AN ACCOUNT SHOWING THE GROSS AND NET POST-OFFICE REVENUE, AND THE COST OF MANAGEMENT FOR THE UNITED KINGDOM, FOR THE YEAR ENDING THE 5TH JANUARY, 1838, AND FOR THE YEARS 1840, 1845, 1851, AND 1852.

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From this table it appears that the net revenue has more than the first complete year of the penny rate.

doubled since 1841,

RECEIPTS AND EXPENDITURES OF THE UNITED STATES.

STATEMENT OF THE RECEIPTS AND EXPENDITURES OF THE UNITED STATES, FROM 1ST JULY TO 30TH SEPTEMBER, 1852.

TREASURY DEPARtment, Register'S OFFICE, November 11, 1852.

From Customs

From Lands.

RECEIPTS.

From Loan of January 28, 1847, (Treasury notes funded,).
From Miscellaneous

$15,728,992 25

415,945 91

10,250 00

531,761 38

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UNITED STATES TREASURER'S STATEMENT, OCTOBER 25, 1852. TREASURER'S STATEMENT, SHOWING THE AMOUNT AT HIS CREDIT IN THE TREASURY, WITH ASSISTANT TREASURERS AND DESIGNATED depositaries, AND IN THE MINT AND BRANCHES, BY RETURNS RECEIVED TO MONDAY, OCTOBER 25, 1852; THE AMOUNT FOR WHICH DRAFTS HAVE BEEN ISSUED, BUT WERE THEN Unpaid, and thE AMOUNT THEN REMAINING SUBJECT TO DRAFT. SHOWING, ALSO, THE AMOUNT OF FUTURE TRANSFERS TO AND FROM DEPOSITARIES, AS ORDERED BY THE SECRETARY OF THE TREASURY.

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Transfers ordered to treasury of the U. S., Washington, D. C....
Transfers ordered to Assistant Treasurer, New York, N. Y.
Transfers ordered to Assistant Treasurer, New Orleans, La
Transfers ordered to Depositary at Norfolk, Virginia

$650,000 00

300,000 00

...

100,000 00

180,000 00

Total.......

Transfers ordered from Depository at Chicago, Illinois..
Transfers ordered from Mint of the U. S., Philadelphia, Pa..

Total

$1,230,000 00

$120,000 00 2,500 00

$122,500 00

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