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in some cases, in discriminating between goods shipped on board the same vessel before and after the 5th day of August, when the tariff was passed:

SEC. 5. And be it further enacted, That all goods, wares and merchandise actually on shipboard and bound to the United States, and all goods, wares and merchandise on deposit in warehouses or public stores at the date of the passage of this act, shall be subject to pay such duties as are provided by law before and at the time of the passage of this act.

The imports for July from foreign ports show a total of only $3,191,920 dutiable goods entered directly for consumption; and, including seven millions of specie and three millions of free goods, the aggregate for the month is less than fifteen million dollars.

FOREIGN IMPORTS AT NEW-YORK IN JULY, 1858-1861.

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For consumption,... . . $14,013,659.. $21,681,460.. $18,759,905..

1861.

ENTERED.

$3,200,663

For warehousing,.

2,949,166

3,943,374

4,462,475

1,769,636

Free goods,...

1,506,027

1,486,147

1,594,918

2,972,054

Specie and bullion,

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The official tables show that the foreign imports at this port, exclusive of specie, since January 1st, are only $85,891,561, against $141,847,307 for the same period of last year, and $155,149,912 for the same period of 1859. In this connection it will be interesting to compare the progress of the trade during the last seven months with the same period in former years, in regard to other particulars, and for this purpose we have separated the receipts of foreign dry goods from the imports of general merchandise:

FOREIGN IMPORTS AT NEW-YORK FOR SEVEN MONTHS, FROM JANUARY 1ST, 1858-1861. 1859.

ENTERED.

1858.

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1,301,082 ..

751,188 .. 32,906,166

23,209,758 12,955,525 .. 18,429,131

1,815,258..

Total entered,... $80,290,381 .. $156,450,994.. $142,599,725.. $118,797,727 Withdrawn,.. . . . 25,076,502.. 14,110,784 .. 17,909,650.. 25,996,550

The extraordinary feature as to specie exceeds any previous period in the history of this country. The dry goods for the past seven months are very limited, although the import of general merchandise is less than in the year 1858:

Relative Imports of Dry Goods, Specie and General Merchandise at New-York for the first Seven Months of the last Eleven Years.

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The cash duties received at the port of New-York, during the month of July, have been less than for the same period of previous years; they are reckoned, of course, upon the goods thrown on the market. We annex a comparative summary:

In July,...

CASH DUTIES RECEIVED AT NEW-YORK.

1858.

1859.

1860.

1861.

$3,387,305.. $4,851,243 89 ..$4,504,066 04.. $2,069,590 86 Previous six mos.,. 11,089,112 19,512,181 99 18,339,679 30 10,585,334 95 Total since Jan. 1, $14,476,418 $24,363,428 88 $22,843,745 34 $12,654,925 81

The exports show some very singular changes. The most noticeable features are, of course, the great increase in shipments of produce, and cessation in shipments of specie. During no month of the year has this been more noticeable, although we are now comparing with a period of last year when the exports of produce on a large scale had commenced, and were rapidly assuming very large proportions:

EXPORTS FROM NEW-YORK TO FOREIGN PORTS FOR THE MONTH OF JULY.

Domestic produce,..
Foreign mdse., (free,)..
Foreign mdse., (dutiable,).
Specie and bullion,....

Total exports,.....

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.$7,921,829.. $ 15,602,393 ..$14,463,199.. $10,028,000 Total, exclusive of specie, 5,119,844 .. 5,551,374.. 7,811,214 10,016,980

The movement of produce from the interior continues to be very large. The receipts at tide-water of the principal articles of produce, from the opening of the canals to and including the 14th of August, have been as follow:

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The returns from other lines of improvement would probably show an equally favorable result.

The receipts of foreign gold and silver, and of gold from California, at New-York, and at Boston for New-York account, since January 1, are about as follows:

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The shipments of domestic produce for the past seven months are more than double those for the same period of 1858 and 1859.

It is somewhat remarkable that the comparative exports for seven months in each of the last three years foot up about the same, but are made up of very different items. In 1859, forty-three millions of specie were included; in 1860, twenty-eight millions; while in 1861, only three millions of specie have been exported during the whole seven

months.

EXPORTS FROM NEW-YORK TO FOREIGN PORTS FOR SEVEN MONTHS, FROM JANUARY 1. 1860. 1861. Domestic produce,... ... $33,352,354..$33,373,647.. $46,281,575.. $71,030,228

1858.

1859.

Foreign mdse., (free,)...

853,024.. 1,765,100.

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Foreign mdse., (dutiable,)

2,557,844 1,021,890

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Specie and bullion,.

15,161,455.. 43,248,991.. 28,143,737.

3,260,458

Total exports,....

Total, exclusive of specie, 36,763,222

$51,924,677.. $80,409,628.. $79,610,797.. $79,878,669 37,160,637.. 51,467,060.. 76,618,511

With this heavy influx of gold it is obvious that the foreign exchanges

remain at a low price, as in May, June or July. current rates at the dates named:

The following were the

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Prices have changed materially on some articles during the month; thus, flour and grain are a little higher; cotton is two cents higher, and spirits turpentine and rosin have made a very rapid upward movement. The export orders for breadstuffs continue, the most active demand for wheat being for the Continent.

THE

MERCHANTS' MAGAZINE

AND

COMMERCIAL REVIEW.

Established July, 1839.

EDITED BY

J. SMITH HOMANS, (SECRETARY OF THE CHAMBER OF COMMERCE OF THE STATE OF NEW-YORK,) AND WILLIAM B. DANA, Attorney AT LAW.

VOLUME XLV.

SEPTEMBER, 1861.

NUMBER III.

CONTENTS OF No. III., VOL. XLV.

ART.

PAGE

I. TAXATION IN THE NEW AND OLD WORLD.-COMPARATIVE REVENUE AND
EXPENDITURE OF GREAT BRITAIN, FRANCE AND THE UNITED STATES-SOURCES OF
REVENUE IN FRANCE-HEADS OF EXPENDITURE-HEADS OF TAXATION IN GREAT
BRITAIN NEW SOURCES OF REVENUE IN THE UNITED STATES, FOR WAR PURPOSES,.. 225
II. COFFEE AND THE COFFEE TRADE.-1. Diminished production in Brazil. 2.
Causes of Decline. 8. Coffee Markets of Europe and the United States. 4. Exports
from Rio Janeiro, 1846-1861. 5. Lowest and Highest Prices in New-York, 1846-61, 228
III. ACTS OF THE THIRTY-SEVENTH CONGRESS.-1. The Collection of Duties on
Imports. 2. An Act to Provide Increased Revenue from Imports, to Pay the Interest
on the Public Debt, and for other purposes. 8. An Act to Increase the Consular
Representation of the United States during the present Insurrection,........

IV. ANNUAL REPORT ON THE SALT TRADE OF THE UNITED STATES for the year 1860, with the Estimated Production of each State, the Foreign Imports and Exports for the year, and prices for each month,..

280

257

V. ANNUAL REPORT ON DRUGS AND THE DRUG TRADE, for the year 1860,.... 261 VI. ANNUAL REPORT ON BREADSTUFFS AND PROVISIONS.-Exhibit of the Aggregate Value of Breadstuffs Exported to Foreign Countries from the United States, for each year, 1828, to 1st July, 1860; also the Export Value of Provisions for the same period-Exports to Great Britain and the Continent, and Values thereof,..... 268 VII. ANNUAL REPORT ON FREIGHTS, FOR 1860.-Rates to Liverpool, London, Havre, Galveston, Havana, Vera Cruz, &c., each month of 1860,...

270

VIII. THE TEA TRADE OF THE YEAR 1860.-Imports, Exports of each Port and Values, 272 IX. OPERATIONS OF THE UNITED STATES ASSAY OFFICE, New-York, 1860,..... 278

COMMERCIAL REGULATIONS.

1. Duties levied in Scinde. 2. The Coolie Traffic. 3. Treaties with Japan. 4. Custom-House
Regulations of Rio Janeiro. 5. Foreign Tariffs, . . . . . . .

274

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