* The population of California is set down at 165,000 as an approximation to the real population, which may be essentially varied by complete returns. Should the returns vary from our estimate so far as to reduce the population of California 30,000, South Carolina will be entitled to a member additional, as being next above on the list of fractions. The official returns of California will slightly affect the calculation respecting the aggregate increase of the free population for the year 1850. Ratio of representation, 93,716. The returns of Utah have been received since the preparation of this report. South'n & Western Northwestern Atlantic Whites. Free colored. Slaves.. Statement of Population by Classes decennially, from 1790 to 1850, inclusive. Seamen in U. S service.. 3,929,827. .5,305,941. Total Free. Total colored population, free and slaves.. .3,231,930....4,412,884.. 757,363....1,001,452.... 32-2....1,377,810.... 376....1,771,622....28:58 .... 5 1,918,608.. 39-7.. 2,428,921.. 26'6 ... 3,097,394.. 27-52.. 33.. 4,766.. 34 320,823.. 15·5.. 373,306.. 16:3 489,555.. 31-14.. 5.. 20,856.. ..1,348,233.. 28-5.. 1,724,033.. 27.9 ... 2,311,786.. 34-09.. 25..*62,602.. 24 3,587,664..32-88.. 4,526,260.. 26-16... 5,898,735.. 30-32.. Total 5,318.. 6,100.. 165,000.. 13,293.. 11,380.. 2.. * Have. the audi *tion 623 **secount -.. of the... .2,866,020..33-48..17,069,453.. 32-67...23,257,723.. 36-25..233.. fractions...233 † For population of California, see preceding page. The returns of Utah have been received since the preparation of this report. UNITED STATES-FINANCES OF GENERAL AND STATE GOVERNMENTS. Statement of Population by Classes decennially, from 1790 to 1850, inclusive. Representatives Ratio of each State Increase No. Fractions 1850 428,661.. 10-9 .10,537,378..33-95..14,189,895.. 34-7...19,630,738.. 38-28.. 2,009,043. 30-61.. 2,487,213.. 23.8 3,198,324.. 28.58.. Free colored.. Seamen in U. S. service.. 6,100.. 10,856,977..34-03..14,576,140.. 341...20,059,399.. 37-61.. 2,328,642..31.44.. 2,873,458.. 23-4 * Added to white population. 433 UNITED STATES - FINANCES OF present time of the banks cannot be less THE GENERAL AND STATE GO- than four hundred and fifty millions of dollars. The reports published by the SecretaVERNMENTS-PUBLIC DEBTS. $64,228,238 ry of the Treasury make the aggregate 979,000 $412,733,004, and many of the returns in6,091,047 cluded in that aggregate, were dated four and 62,596 six months previous to January, 1851. The 40,424,737 aggregate amount of bonds of incorporated companies of the general and state govern14,400,507 977,000 ments-of cities and counties-and of paper 3,622,039 promises to pay held by the banks, cannot be 1,903,472 much below one thousand millions of dollars, 10,385,938 as shown by the annexed table :--7,271,707 16,238,131 PUBLIC AND PRIVATE INDEBTEDNESS-1851. 11,050,201 General and State Governments, 3,862,172 1850. Maryland.. Virginia North Carolina. South Carolina.. Georgia. Alabama. Mississippi. Louisiana. Texas. Arkansas.. Tennessee. Kentucky Michigan. Indiana.. Illinois. Missouri. Iowa.. Total, 1850. 15,900,000 Total, 1843. Increase in seven years. $76,661,940 This shows an increase of about thirty per cent. in seven years; and returns for 1851 will show an addition to the public indebtedness of 1850 of more than forty millions of dollars. New-York, Massachusetts, Virginia and North Carolina, have granted, or are about granting their credit to works of internal improvement, by which the debt of each will be largely increased. We must add to this enormous amount at least seventy-five millions of dollars for the debts of cities and counties in all sections of the country, for which bonds are issued. This makes the indebtedness of governments, great and small, in the United States, at this moment, nearly four hundred millions of dollars. The debts of rail-road and canal companies in the United States, for which bonds have been issued, and are floating about the money markets, amount to full eighty millions of dollars. The banks have been expanding rapidly, and every month adds millions to their loans and discounts. The loans at the VOL. III. This is independent of the immense amount of paper floating about the country, in the hands of individuals. The amount included in the above table comprises the bonded debts of the various governments and incorporated companies, and the amount of paper discounted in all the banks. We have made no attempt to estimate the total extent of credits in existence. It is probably double, at least, the above aggregate. The great speculative years, 1835, 1836 and 1837, could not compare with the present. We are at this moment in a more expanded condition than ever before, and there are more than sixty millions of bonded securities for the construction of rail-roads, canals, plank roads, and other works of internal improvements, ready to be negotiated at some rate. Individuals have by no means been behind corporations or incorporations. Every one that had any credit has been running into debt. All sorts of extravagance is the order of the day. Five, ten and fifteen dollars are paid for a ticket to a concert, without a second thought. Three thousand dollars for a car 28 riage and pair is considered nothing. One hundred thousand dollars for a house up town, and furniture, is not considered unreasonable, and everything else at the same rate, is paid by those who have more credit than capital, more pride than brains. The people of the South have, in consequence of the high prices paid for their staple product, been enormously extravagant, and have, notwithstanding the great increase in the value of their crops, exceeded their incomes, in expenditures, full as much as in any previous year. The success of Jenny Lind's concerts shows this. In the face of this artificial, inflated state of things, what would be the effect of a great fall in the price of cotton, or the falling off in the receipts of gold from California? That both of these events will be realized, we have not the slightest doubt. The enormous prices which have been paid for cotton during the past year will stimulate cultivation, and the probability is, that before a twelvemonth elapses, the raw material will be nearly as low as ever it was. We have taken the cream off the gold mines of California, and, while the supply of dust will be largely reduced, the expansion of credits here, which has been carried on upon the basis furnished by California, must go on until it is arrested by a wide-spread revulsion. UNITED STATES.-COMMERCIAL NAVIGATION OF, AND GREAT BRITAIN. We are indebted for the following extract to Mr. Kettell's invaluable "United States Economist:" The navigation laws of Great Britain, which were originated in the middle of the seventeenth century, and continued in force down to the peace of 1815, have now, since three years, been abolished in respect to the foreign trade. It was generally contended, and by many believed, that the commercial greatness of England was due, to a considerable extent, to the operation of those laws, rather than to the enterprising and commercial character of her people. The singular position of their island home, which made navigation the only means of communication with their neighbors, and eminently favored its development, inasmuch as that no wind can blow from any quarter of the compass, but that it is fair for the arrival and departure of some of England's mercantile marine; her little possession of oaks, iron and mechanical genius, enabled her to build, without competition, those vessels which her enterprise and necessities sent into all seas. With these advantages, it was inevitable that England should become the mistress of the seas; and to ascribe the results of those combined circumstances to the operation of law, was more worthy of a dark age than of the enlightened present. Soon after the government of Cromwell invented those laws, Col bert, in 1664, constructed the first general tariff for France, and the principles of that tariff were more strictly enforced by succeeding ministers, especially in relation to navigation, down to the present day. As long as all the countries out of Europe were dependencies of European governments, and exposed to the operation of their laws, but progress was made in that healthful rivalry which operates to the benefit of general industry. The separation of the United States from Great Britain freed them from the operation of her laws, and compelled their relaxation. Even statesmen were not too stupid to see the necessity of modifying a state of things which compelled a British vessel to make a voyage across the Atlantic in ballast, one passage, passing a United States vessel loaded, thus charging two freights upon every cargo carried, without benefiting the vessel; consequently, the laws were for the first time modified, and United States and British vessels placed upon an equal footing. In 1818, the United States passed a law virtually abolishing navigation laws in favor of any nation which should adopt a similar policy. The inevitable progress of commerce, deepening its own channels, at length compelled England, in time of famine, to suspend her navigation laws, in order that vessels of all nations might bring her food. Holland and Belgium were compelled, by the same necessity, to do likewise, and that experiment led to the final abrogation of the English navigation laws, in 1849, consequently, bringing into force the United States law of 1818. France alone remains in ber former position. The results of the exclusive policy of France, and of the liberal policy of the United States and Great Britain, are seen in the following table, which shows the tonnage which entered each country in 1849 and 1851, distinguishing the foreign from the national: TABLE SHOWING THE TONNAGE WHICH ENTERED EACH COUNTRY, DISTINGUISHING THE NATIONAL FROM less the case that the genius of France is far less maritime than either that of England or of the United States; but the figure shows that laws can do but little towards changing the character of a people. As between the United States and England, both possessed of maritime aptness, it was fiercely contended that the superior capital and general resources of the latter would enable her, on a footing of equality, to drive the United States vessels out of the trade, at least the international trade. It was supposed that in what was called the triangular voyage between the United States, British West Indies and England, the vessels of the latter would have such advantages as would ruin American tonnage. We may now, from official documents, compile a table of the British and American tonnage which entered the United States from each country of the world at two periods. In this table, it will be seen that the operation has been altogether in favor of the United States, the tonnage of the latter showing an increase from almost every country. Thus we observe that the entries of United | other than British, the trade has been virtuStates tonnage from Great Britain increased ally monopolized by United States vessels. 42,530 tons, but British tonnage decreased 49,268 tons. The same in respect to Canada and the British East Indies. From countries If we compare the progress of tonnage in the foreign trade of the United States and Great Britain we shall have results, as follows: TONNAGE OF THE UNITED STATES AND GREAT BRITAIN, ENTERED IN EACH YEAR. The year 1839-40, and in 1847, the in- have tripled, while British tonnage in Engcrease of foreign tonnage entering Great Bri- land has little more than doubled. The ratio tain was large, in consequence of the great of foreign tonnage entering England has inimportation of corn, and these have, since the last famine, continued at an enormous figure, favoring the employment of the tonnage of the corn countries. In the above period of fifteen years, however, the entries of American tonnage in the United States creased faster than foreign tonnage in the United States, because American vessels are included in the former. The tonnage of the United States, in its several employments, has progressed as follows: |