is seen in the working of the system of marine insurance in the city of New York. There were several large companies in the field, who had grown rich in the business; this naturally drew in others, who were anxious to share the profits. Of course the new comers must offer some inducement to the customers of the old companies, to secure a profitable business. But some wise head thought that it would be a beautiful regulation that all the companies should be bound by a certain standard, and the exact rate of insurance on every article should be governed by a tariff, to which all should conform. Mark the result! The rates being the same in all the companies, the richer and more influential picked the cream of the business, and left the next choice to the second class, and so on down to the tail; and this rule was adhered to, until all who were low down upon the list failed, and some above them were sorely crippled. In connection with this very business, a project is now on foot equally absurd. The insurance companies have discovered that a large number of vessels are lost through carelessness, or ignorance, or want of nerve on the part of the commander. So they now propose a Board of Examiners, to pronounce upon the competency of shipmasters! Why not reach this difficulty in the simplest way? Is there less risk of loss under a good captain than a poor one? Very well-graduate the rates accordingly. Let skill and care, and all that makes up thorough seamanship, bring its price in lowering the rates of insurance; there will be no lack of the supply, the moment there is a demand for it at an equivalent compensation. The shipmaster under whom a ship shall insure at the lowest premium, will stand at the head of his class, without a certificate, and he whose vessel pays more than an average rate, will be dropped from the roll, without the blackball of the Board of Examiners. The same rule applies to the building, fitting, and manning of vessels. There should be no arbitrary classification, but each office should have its own inspector, and the rate of insurance should be nicely graduated to give an advantage to everything that goes to insure the safety of a voyage, and the delivery of a cargo in good order. This rule will apply to all classes of business and all human experience. No people will ever be self-reliant who are taught to depend upon the watch and care of government or of society. In some parts of Europe, dear bread will create a revolution; not because, as some superficial thinkers assert, that the masses are discontented and rebellious simply on account of an empty stomach, but because the people are not taught to see the effect of natural laws, and therefore look upon the affliction as something the government could have easily prevented, if so disposed. Some philanthropists are continually harping upon plans to protect the public; they would erect gates at the ferries, as high as Haman's gallows, lest the impatient passengers should fall overboard; and would have the police Argus-eyed in watching pedestrians through the thoroughfares, lest some one should do himself a mischief. In the cities of the Old World, where such care is taken, there are ten accidents to one in those places nearer home, where people are left to look out for themselves. Habits of watchful self-reliance can only be fostered where such restraints are unknown. The tariff question still drags in Congress, but there is now some hope that a reform will be agreed upon before the close of the present session. It is time that the political aspect of this question should give place to sound practical economy. The 6 per cent canal loan for $1,000,000, upon the credit of the State of New York, having seventeen years to run, was taken on the 15th of January, at $114 50 a $116 25, averaging $114 54. The bids amount to $4,545,000. The following is a statement of the business at the United States Assay Office, at New York, during the month ending December 31: DEPOSITS AT THE ASSAY OFFICE, NEW YORK, FOR THE MONTH OF DECEMBER. Gold bars stamped.... Trausmitted to U. States Mint, Philadelphia, for coinage. 300,000 00 2,296,513 30 117,647 60 The following is a statement of deposits and coinage at the Mint of the United States, in Philadelphia, during the month of December, 1856 : The bank movement at New York shows a continuation of the expansions in loans, without any permanent improvement in specie. It is evident that most of these institutions are anxious to make large dividends, and a little careless about maintaining a conservative position. Whoever lives twenty years longer will probably see a great change in the business of banking. The legal restrictions will be, to a great extent, removed, except in the matter of circulation, and a large part of the business will be transacted by private bankers. We give a full report of the bank statements from the 1st of January, 1856, for convenient reference, but shall carry forward ouly the report from January 1, 1857 : WEEKLY AVERAGES NEW YORK CITY BANKS. We annex our usual comparative summary of the weekly statements of the Boston banks : Capital.. Loans and discounts.. WEEKLY AVERAGES AT BOSTON. January 12, January 19. $31,960,000 $31,960.000 $31,960,000 $31,960,000 $51,960,000 51,498,000 51,871,000 52,770,819 53,440,859 53,000,713 3,525,000 3,744,500 3.328,986 3,849,416 3,888,000 Due from other banks 7,655,000 7,500,000 7,171,114 6,932,793 7,222,000 The following are the aggregate footings of the New Orleans banks on the last The New Orleans bank statement for the week ending January 10, shows an extensive movement. Deposits have increased half a million, and exchange $300,000. The circulation has overtopped ten millions, which is larger than in any previous period since 1841. The specific changes, compared with the previous week, are as follows: : The following table shows the comparative condition of the banks in Portland, according to the returns made to the Secretary of State, January 3, 1857 : $1,925,000 $3,619,982 $1,125,428 $621,350 $172,892 Compared with the returns for January 5, 1856, the above exhibits the fol ASSETS OF ALL THE BANKS OF PENNSYLVANIA, NOVEMBEr, 1856. $601,207 $3,426,178 LIABILITIES OF ALL THE BANKS OF PENNSYLVANIA, NOVEMber, 1856. Capital stock .... $12,462,580 $11,136,761 $23,599,344 Circulation. 5,422,151 11,940,198 17,362,345 Due other banks 3.280,424 935,090 4,215,515 Due depositors. 17,723,326 8,682,648 26,435,942 Dividends unpaid.. 54,134 192,311 246,445 Contingent fund...... 2,301,667 Discount, interest, and exchange 532422 638,086 1,170,509 Profit and loss 160,053 Due Commonwealth 228,601 254,858 483,404 Issues of 4th of May 1,574 Miscellaneous . 104,613 22,446 127,059 Suspense Account.. 6,058 6,058 Surplus.... 296,194 186,184 482,376 Certificates of deposit. 330,763 Total.. Total November, 1855 .. 38,688,200 35,087,360 73,775,662 Increase... $2,931,278 $601,202 $3,532,483 Annexed is the aggregate condition of the Bank of the State of Missouri and its branches on the 31st of December, 1856: |