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LOCATION.
NAME.

Capital. Circulation. Specie. Elyria, *Lorain Branch Bank,

60,000 119,126 37,176 Eaton, .

Preble County Branch Bank, 71,950 115,903 57,509 Lancaster, *Hocking Valley Branch,

85,200 169,961 52,455 Mansfield, *Farmers Branch, .

59,320 112,357 35,410 Mt. Vernon, *Knox County Branch,

60,000 104,768 42,546 Marietta, . *Marietta Branch, .

69,561 136,605 42,387 Mt. Pleasant, *Mt. Pleasant Branch,

60,000 118,278 37,302 Massillon, *Union Branch,

94,930 187,865 61,962 Bank of Massillon,

200,000 295,618 52,360 Norwalk, , Bank of Norwalk,

200,000 110,133 16,886 *Norwalk Branch Bank,

77,400 153,602 50,446 Painesville, Bank of Geauga,

30,000 54,315 26,412 Piqua, . *Piqua Branch Bank, .

73,928 144,064 44,272 Portsmouth, . *Portsmouth Branch, .

100,000 197,750 65,815 Ripley, *Farmers Branch, .

79,560 135,432 48,380 Ravenna, *Portage County Branch,

67,030 108,673 42,194 Sandusky, Sandusky City Bank,

50,000 50,126 11,330 Bank of Sandusky,

100,000 112,467 21,076 Salem, *Farmers Branch Bank, .

81,330 159,894 50,654 Steubenville, * Jefferson Branch Bank,

100,000 191,046 82,609 Springfield, *Mad River Valley Branch, 100,000 192,963 60,779 Tiffin, Seneca County Bank,

30,000 68,601 13,787 Toledo, *Commercial Branch,

120,000 228,548 68,196 *Toledo Branch Bank,

130,500 221,853 70,000 Troy, *Miami County Branch,

65,281 125,373 45,162 Warren, Western Reserve Bank,

40,000 106,901 41,382 Wooster, *Wayne County Branch,

50,900 97,038 40,506 Xenia,. *Xenia Branch Bank,

150,000 248,314 73,458 Zanesville, *Muskingum Branch,

55,900 63,132 22,570 Franklin Bank, .

80,700 113,522 28,106 Total,

$6,654,418 $9,166,679 $2,900,700 ( * Branches of the State Bank of Ohio, 38 in number.

The Capital Stock of the Ohio Life and Trust Company is $2,000,000, which is loaned on real estate. The capital of $611,226, on which it is doing business as a Bank, consists of loans made to the Co. on which it pays interest.

Comparative Condition.
May, 1847.

November, 1848. Loans,

$ 10,936,661

$13,678,848 Specie, .

2,026,551

2,900,700 Bank Notes, .

1,081,561

1,259,437 Bank Balances, .

519,868

920,162 Eastern Funds,

1,262,166

1,586,584 State Bonds,

1,170,270

1,799,451 Miscellaneous,

1,331,640

833,744

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RESOURCES.

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$22,978,926 November, 1848.

LIABILITIES.
Capital,
Circulation,
Bank Balances, .
Deposits,
Bonds,
State Tax,
Surplus Fund,
Miscellaneous,

Total, ,

May, 1847.
$5,071,729

7,281,029
1,051,860
3,356,837
806,000

17,854
269,004
474,406

$6,654,418 9,166,679

990,170 4,170,360 1,091,212

18,750 485,431 411,906

$18,328,719

$22,978,926

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STATES AND
TERRITORIES.

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PATENT OFFICE REPORT FOR 1848-9. The following interesting tables form a part of the Annual Report of the Commissioner of Patents for 1848-9; and published in advance of the printed document itself. The figures are mere estimates, but they must approximate more closely to the facts than any other tables in the possession of the public, upon these subjects. The results are no doubt obtained after careful enquiries in proper channels; and, for all statistical purposes, and as a basis of calculation for political economists, they are sufficiently correct.

It would add much to the value of the Patent Office Reports, hereafter. if they entered more fully into a consideration of the progress of improvements in the Arts and Sciences, as indicated by the new patents themselves; and also as indicated through the Journals of Science published in Great Britain and the Continent of Europe, as well as in our own country.

It seems to us that the Commissioner of Patents should be a person of acknowledged acquirements in science; practically familiar with general science, with the principles of mechanics and the arts: and capable of himself producing an accurate Survey of the Progress of Science throughout the World.

Estimates of Crops in the United States in the year 1848.
Population Estimated, Wheat, Barley,

Oats,

Rye, Buckachest in 1840. 1843. Bushels. Bushels. Bushels. Bushels. Bushes. Maine,

501,793 615,000 900,000 290,000 2,000,000 200,000 60,000 New Hampshire, · 284,574 308,000 620,000 132,000 2,500,000 500,000 175,00 Massachusetts, 737,699 875,000 260,000 175,000 2,300,000 750,000 145,000 Rhode Island, 108,530 135,000 4,600 55,000 220,000 55,000 5,00 Connecticut, 309,978 340,000 130,000 30,000 2,000,000 1,500,000 500,000 Vermont,

291,948 310,000 680,000 60,000 3,500,000 370,000 350.000 New York, 2,428,921 2,850,000 15,500,000 4,300,000 25,000,000 4,000,000 3,560,00 New Jersey, 373,306 425,000 1,200,000 12,000 5,500,000 3,300,000 1,000,000 Pennsylvania, 1,724,033 2,220,000 15,200,000 155,000 20,000,000 13,500,000 3,500,00 Delaware,

78,085 85,000 450,000 4,500 700,000 65,000 16,000 Maryland,

470,019 510,000 5,150,000 3,000 2,200,000 1,200,000 120,000 Virginia, 1,239,797 1,295,000 12,250,000 94,000 11,000,000 1,800,000

270,000
North Carolina, 753,419 780,000 2,450,000 4,200 4,000,000 300,000 20,000
South Carolina, 594,393 620,000 1,400,000 4,600 1,250,000 60,000
Georgia, .

691,392 825,000 2,100,000 12,600 1,500,000 80,000
Alabama,

590,756 716,000 1,300,000 7,500 2,000,000 85,000
Mississippi, . 375,651 670,000 550,000 2,250 1,500,000 30,000
Louisiana,
352,411 490,000

2,500
Tennessee,
829,210 950,000 9,000,000 6,800 10,500,000 400,000

34,00 Kentucky,

779,823 890,000 6,500,000 20,000 15,000,000 2,800,000 16,000 Ohio,

1,519,467 1,980,000 20,000,000 300,000 30,000,000 1,250,000 1,500,000 Indiana,

695,866 1,000,000 8,500,000 42,000 17,000,000 300,000 110,000 Illinois,

476,183 800,000 6,400,000 120,000 5,000,000 170,000 130,00 Missouri,

333,702 559,000 2,000,000 15,000 7,000,000 90,000 30,000 Arkansas,

97,574 200,000 500,000 1,100 500,000 12,000 Michigan,

212,267 420,000 10,000,000 300,000 6,000,000 100,000 310,000 Florida, 54,477 80,000

13,000 Wisconsin,

30,945 250,000 1,600,000 35,000 2,500,000 10,000 40,000 Iowa,

43,112 150,000 1,300,000 40,000 1,500,000 15,000 25,000 Texas,

150,000 1,300,000 Dist. Columbia, 43,712 48,000 20,000

17,000 8,000 Oregon, .

50,000 100,000 Total, 17,063,353 21,686,000 126,364,600 6,222,050 155,500,000 32,952,500 12,535,000

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STATES AND Potatoes, Indian Corn, Hay, Hemp, Tobacco, Cotton Rice,
TERRITORIES.
Bushels. Bushels. Tons. Tons. Pounds.

Pounds. Pounds, Maine,

9,000,000 3,000,000 1,200,000 N. Hamp.

5,000,000 2,600,000 650,000 Massachusetts, 4,800,000 3,800,000 750,000

150,000 Rhode Island, 800,000 900,000 90,000 Connecticut, 3,500,000 3,400,000 650,000

825,000 Vermont, 8,000,000 2,500,000 1,400,000 New York, 27,000,000 17,500,000 4,200,000

36,000 New Jersey, 2,100,000 9,000,000 470,000 Pennsylvania, 8,200,000 21,000,000 2,000,000

610,000 Delaware,

200,000 3,850,000 25,000 Maryland, 1,000,000 8,800,000 130,000 23,000,000 Virginia, 3,500,000 33,000,000 430,000 45,000,000 2,500,000 3,500 N. Carolina, 3,200,000 26,000,000 140,000 13,000,000 45,000,000 3,600,000 S. Carolina, 4,200,000 13,500,000 35,000

33,000 105,000,000 90,000,000 Georgia, 2,000,000 27,000,000 23,000

220,000 220,000,000 18,000,000 Alabama, 2,500,000 29,000,000 21,000

360,000 165,000,000 350,000 Mississippi, 2,600,000 17,000,000 1,000

215,000 245,000,000 1,200,000 Louisiana, . 1,500,000 10,600,000 30,000

190,000,000 5,000,000 Tennessee, 3,000,000 76,600,000 50,000 800 36,500,000 36,000,000 12,000 Kentucky, 2,200,000 65,000,000 140,000 11,000 69,000,000 2,200,000 25,000 Ohio,

5,000,000 70,000,000 1,600,000 500 9,500,000 Indiana,

2,500,000 45,000,000 500,000 480 3,950,000 Illinois, 2,300,000 40,000,000 450,000 550 1,340,000

9,000 Missouri, 1,200,000 25,000,000 100,000 7,000 15,600,000 Arkansas, 800,000 8,000,000 1,500

220,000 25,000,000 Michigan, 5,000,000 10,000,000 400,000 Florida, 500,000 1,250,000 1,500

350,000 18,000,000 1,000,000 Wisconsin, 1,250,000 1,500,000 150,000 lowa,

1,000,000 3,500,000 60,000 Texas, 300,000 1,800,000

.

12,000,000 Dist. Columbia, 25,000 50,000 2,000 Oregon,

1,000,000 Total, 114,475,000 553,150,000 15,735,000 20,330 215,909,000 1,066,000,000 119,199,500

The Sugar crop of this ycar is deficient and is estimated only at two hundred millions of pounds. No estimates of the quantity of Maple Sugar has been made on account of the difficulty of procuring reliable information in regard to it.

Comparative Estimates for 1847 and 1848.
ARTICLE.
Year 1847. Year 1848.

Production per head

for 1848. Wheat, bushels, 114,245,500 126,364,600

57 bushels. Corn,

539,350,000 588,150,000 27 Potatoes, 100,965,000 114,475,000

51 Oats, 167,867,000 185,500,000

8 Rye,

29,222,700 32,952,500

11 Buckwheat, bushels,

11,673,500 12,538,000

4-5 Barley,

5,649,950 6,222,050

29-100 Hay, tons, 13,819,900 15,735,000

ton. Hemp, “

27,950

20,330

2 pounds. Tobacco, lbs.

220,164,000 218,909,000

10 Cotton, 1,041,500,000 1,066,000,000

49 Rice,

103,040,500 119,199,500 51 Silk Cocoons, lbs.

404,600 Sugar,

324,940,500 200,000,000 10 Population,

20,746,000 21,686,000

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66

66

THE FUTURE SUPPLY OF GOLD.

BY DAVID T. ANSTED, PROFESSOR OF GEOLOGY, KING'S COLLEGE, LOSDOX.

On the probable influence of the Gold of California on the commercial value of Gold-On the nature of money–The capital stock of Gold— The annual supplies of Gold-Loss of Gold by use.

Gold being a metal highly indestructible, and, owing to its comparative rarity and the many uses to which it can be applied, exceedingly valuable, has been made use of in most parts of the world as a medium of exchange; and in order, as it was supposed, to facilitate commercial operations and simplify many calculations of national importance, has been taken with silver as the standard of money value. In our own country (as has been just explained) the relative value of gold and silver is fixed by law, gold being a legal tender, and silver coins bearing a fixed ratio to gold.

Gold and silver, however, although their value is thus fixed, so far as they have reference to coins in our own country, are, like all objects of value that exist in nature, and are obtained from the earth by an expenditure of labor, subject to great fluctuations in real value, as a larger or smaller quantity of them happens to be in the market. Up to the present time, nothing that has occurred since the year 1816, (when the standard values were fixed by Act of Parliament, and gold made a legal tender for all sums above 40s.) has so far deranged the relative values of the precious metals as to produce inconvenience; but it is manifest that any permanent increase in the supply of either would alter their relative values, and render the present standard inapplicable.

The meaning of this may be made more clear by a simple example. The annual income of Great Britain amounts to a certain number of millions of pounds sterling, say fifty-six millions, and this under present circumstances would be represented by somewhat more than nine hundred thousand pounds weight avoirdupois of fine gold. But this income might also be paid by about thirteen millions of pounds weight of pure silver, if silver were a legal standard, or if the silver were employed to purchase in the market its value in gold. Now if we suppose the quantity of available gold doubled without that of the silver being perceptibly increased, the proportionate value of gold and silver in the world must be altered to a great extent, and the required weight of gold purchasable for a smaller quantity of silver than thirteen millions of pounds, since the relative value of the metals in other countries than our own depends to some extent (although as we shall presently see not entirely) on the quantities of the two substances in the market, and the value of both compared with that of food and labor.

As however the whole subject of the value of the precious metals is frequently very ill-understood by those whom notwithstanding it greatly concerns, it will be worth while here to place it distinctly before the reader; and as I am not aware that any writer on the subject has done so with a more distinct perception of the state of the case than Dr. Adam Smith, I make no apology for offering the following extracts from his work on the Wealth of Nations :

The value of any commodity, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labor which it enables him to purchase or command. Labor, therefore, is the real measure of the exchangeable value of all commodities.

But though labor be the measure of this value, it is not that by which their value is commonly estimated. It is often difficult to ascertain the proportion between two different quantities of labor, and the time spent in two different sorts of work will not always alone determine this proportion. It is more natural therefore to estimate its exchangeable value by the quantity of some other commodity than by that of the labor which it can produce; and hence also it comes to pass that the exchangeable value of every commodity is more frequently estimated by the quantity of money, than by the quantity, either of labor or of any other commodity, which can be had in exchange for it.

Gold and silver, however, like every other commodity, vary in their value, being sometimes cheaper and sometimes dearer, sometimes of easier and sometimes of more difficult purchase. The quantity of labor which any particular quantity of them can purchase or command, or the quantity of other goods which it will exchange for, depends always upon the fertility or barrenness of the mines which happen to be known about the time which such exchanges are made. The discovery of the abundant mines of America reduced in the sixteenth century the value of gold and silver in Europe, to about a third of what it had been before. As it cost less labor to bring those metals from the mines to the market, so, when they were brought thither, they could purchase or command less labor; and this revolution in their value, though perhaps the greatest, is by no means the only one of which history gives some account.

Now, although it is true that at distant places there is no regular proportion between the real and the money price of commodities, yet the merchant who carries goods from the one to the other has nothing to consider but the money price, or the difference between the quantity of silver or gold for which he buys them, and that for which he is likely to sell them. Half an ounce of silver at Canton in China, may command a greater quantity both of labor and of the necessaries and conveniencies of life, than an ounce at London. If a London merchant, however, can buy at Canton for half an ounce of silver, a commodity which he can afterwards sell at London for an ounce, he gains a hundred per cent. by the bargain, just as much as if an ounce of silver was at London exactly of the same value as at Canton. An ounce at London will always give him the command of double the quantity of all these, which half an ounce could have done there, and this is precisely what he wants.

In reality, during the continuance of any one regulated proportion between the respective values of the different metals in coin, the value of the most precious metals regulates the value of the whole coin. Twelve copper pence contain half a pound avoirdupois of copper, of not the best quality, which before it is coined is seldom worth seven pence in silver. But as, by the regulation, twelve such pence are ordered to exchange for a shilling, they are in the market considered as worth a shilling, and a shilling can at any time be had for them.

The occasional Aluctuations in the market price of gold and silver bullion arise from the same causes as the like fluctuations in that of all other commodities. The frequent loss of those metals from various accidents by sea and by land, the continual waste of them in gilding and plating, in lace and embroidery, in the wear and tear of coin, and in that of plate, require, in all countries which possess no mines of their own, a continual importation in order to repair this loss and this waste. The merchant-importers, like all other merchants, we may believe, endeavor as well as they can to suit their occasional importations to what they judge is likely to be the immediate demand. With all their attention, however, they sometimes overdo the businees, and sometimes underdo it. When they import more bullion than is wanted, rather than incur the risk and trouble of exporting it again, they are sometiines willing to sell a part of it for something less than the ordinary or average price. But when, under all those occasional fluctuations, the market price either of gold or silver bullion continues for several years together, steadily and constantly, cither more or less above or more or less below the Mint price, we may be assured that this

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