markets has to carry out of our country our gold and silver, and thus to produce a scarcity of money. It evidently has this tendency only when the value of our imports exceeds that of our exports, and this as we have already remarked, is not at present the case. And even if it were, it would not be so much the cause of declining prosperity, as the sign of it. The great causes of the scarcity of money in our country at the present time, appear to us to be the following. 1. The rapid growth of our country. When the growth of a country is rapid, the increase of business is not usually accompanied with a corresponding increase of the amount of the circulating medium. This will occasion a scarcity of money, for the greater the quantity of business is, which is transacted in a country, the greater will be the number and amount of contracts requiring the transfer of money in their execution. Hence it is that in new countries money is generally scarce. 2. Our merchants have overtraded, and the consequences are a great demand for money for the purpose of discharging their debts, and a general contraction of credit. An unusual demand for money, it is evident, must make it apparently scarce, though in fact the quantity of it may not be diminished. When credit is contracted also on account of the numerous demands of merchants on their customers, and it becomes customary to sell for ready money or on a short credit, it is evident that a greater quantity of money than usual is necessary to supply a nation's demand. 3. Much of our pecuniary embarrassment may be traced to the late suspension of specie payments by our banks. The consequence of this suspension was a depreciation in the value of bills, and contracts being made with a reference to this depreciated money, specie was of course driven in a great measure out of cirlation. 4. The operations of our national bank. When this bank was incorporated, it was hoped that the derangement in our pecuniary system would vanish. But instead of diminishing it has served to increase this great evil. This was owing to the fact that loans were authorized to the stockholder, secured merely by a pledge of his part of the stock itself, and the fact that he was permitted to apply this loan to the payment of his instalment. Thus the bank was converted into a mere instrument of private speculation, and instead of diminishing, increased the superabundance of our floating paper. But says the author, "none of the great manufacturing establishments of Europe have arisen without governmental protection from foreign competition." This is true,and the consequence has been the establishment of a system of commercial restrictions, which the great political economists of our age, regard as one of the greatest evils that ever visited that portion of the globe. This system is styled the mercantile system.' It had its origin not in an enlightened regard to the true interests of nations, nor in profound investigations on the subject of national wealth, but partly in the incessant entreaties of self-interest, and partly in prejudice. It being calculated for the benefit of merchants and manufacturers, they have constantly been petitioning in its favour, and having been influential classes of men, and having enjoyed a great facility of combination for the prosecution of any scheme of profit, on account of their residing chiefly in cities and large towns, their efforts have been but too successful. The prejudice which we have mentioned as in part the origin of the mercantile system, originated in the following manner. In the 12th and 13th centuries, when the feudal system was about crumbling into ruins, and Eu ated in an able letter to Secretary CrawSee the operations of this bank deline ford, lately published in New York, and signed "Aristides." rope was beginning to lift her head Afrom the slumber of ages, it so happened that the natural order of a nation's progress in opulence was in verted. Instead of the prosperity of the city's following that of the country, that of the country followed that of the city, and for the following reasons. All Europe had previously been sunk into a perfect lethargy. Agriculture, commerce and manufactures were all asleep. A shock was given them, however, in the 12th and 13th centuries, which caused them to awake, and society itself to assume a new form. This mighty shock came from the crusades. The millions who went into Asia on those mad expeditions, returned with a lessou impressed on their minds which was to change the face of Europe. Many places in the western part of Asia and in the eastern part of Europe, especially Constantinople, had been for a long time engaged in commerce and manufactures. The consequence was that they abounded in all the conveniencies and luxuries of life. The delicacies of the East had been imported to this city and to Cairo, by the Arabian and Syrian merchants. The Greeks had also deposited in the same cities, especially in the former, the remains of their ancient arts. In short, Constantinople was a large, magnificent city, and every thing which struck the eye of the rude crusader pointed out to him a state of improvement far higher than any he had before witnessed. The consequence was that he returned to his native country with a desire of meliorating his condition, and especially of engaging in the commerce and manufactures of which he had learned the value. Accordingly some of the inhabitants of the most populous towns, especially of Venice, Genoa, Pisa, &c. petitioned their sovereigns for the privileges of incorporation, and as their sovereigns had been for a long time trembling for the security of their thrones against the increasing power of the barons, and being therefore ready to concur in any measure to weaken their hold upon their people, these privileges were in many instances granted; and thus it was that these towns or burghs were enabled to engage in commerce and manufactures before any considerable attention had been paid to agriculture, and hence as Europe was thus led into the path of prosperity by these branches of industry, a very natural prejudice in their favour, a prejudice aided by the petitions of merchants and manufacturers, has come down to the present day. The mere fact, therefore, that it has been the practice of European nations to encourage their manufactures by commercial restrictions, is no great argument in favour of this policy. On the whole then it appears to us that our real and permanent interest requires that we should open our ports wide to foreign nations. This is making the nations of the earth resemble in their commercial relations to each other the families of a peace ful neighbourhood, where all contribute freely to the supply of each other's wants, and this we apprehend is agreeable to the designs of nature. But introduce into this harmonious scene, the direful mercantile system, and you turn order into chaos. Jealousy and distrust, and retaliation and wars, will take the place of an undisturbed and profitable interchange of mutual benefits.* We would conclude our observations under this head, by observing, that when we speak of giving freedom to commerce, we do not mean that our importations should be entirely freed from duties, for this would be to exempt foreign merchandize from a reasonable taxation. All that we plead for is that these duties should not be increased to such an amount as to operate as a serious discouragement to commerce. In 1815, duties on Irish importa * See the general principles on this subof the Mind-the work of a great political ject ably sketched in Stewart's Philosophy as well as metaphysical philosopher. tions were increased so much by the British Parliament, that in one year the number of tons imported, was diminished from 3169 to 1804. This is what we deprecate as a most serious evil. But we are apprehensive, that if we go on, augmenting the weight of our duties, this evil will fall upon our own heads, agreeably to what has been said by a writer already quoted, that "the evils of the restrictive system recoil with tenfold effect on the heads of its supporters." We have already imposed duties which amount to an average of twenty-five per cent. and if our freights, insurances, commissions &c. are included in the estimate, our duties amount to an average of about forty per cent. This we think is going quite as far as our real interests permit. We would also remind our readers, that what we have been contending for in the preceding argument, is the general principle. We have not room to enter particularly into the details of the subject, nor to consider how far the principle, when applied to the peculiarities in the situation of our country, is liable to exceptions. We would state however, that of all our domestic manufactures, those probably deserve the most encouragement, which are necessary to carry on the operations of war. If we depend entirely on a foreign nation for such manufactures, should war cut off our commerce with that nation, we should be found unprovided for a state of hostilities, and it would be too late to think of making preparations for our selves. If any other domestic manufactures deserve encouragement, the preference should be given to those which are the most necessary as means of subsistence; and which at the same time, would bear the highest price in time of war, compared with their price in time of peace, or rather we would say the expediency of encouraging such manufactures, will generally be in a compound ratio, of the essity referred to and the price. inb. Review. There may be some cases, also, in which a particular species of manufacture may require for a short time, the aid of government for the reason, that it is something new, or something which has to encounter the opposi tion of prejudice. Generally speaking, it is undoubtedly true, that we may safely rely on it as a safe maxim in politics, that labour will always go where it will find the highest reward, but in such cases, and perhaps in some others, the influence of prejudice, of habit, of education, and of feelings of indifference to the improvement of our condition, may be so strong as to overcome the temptation of profit. We should be glad to follow the author through the remainder of his discourse, but our limits will not admit of it. The other means of national prosperity which he mentions are "the encouragement of commerce, literary institutions and scientific men, and the institutions of the christian religion." The inferences which he draws in the conclusion of his discourse are" that there is no collision of interest, or foundation for envy between the several classes of men whose exertions are required to promote the general welfare of a nation, and that there is no collision of interest or cause for jealousy between the different sections of this nation.” With the exception of what is said on the expediency of encouraging manufactures, we agree with him in almost every particular, and we admire the ability with which he unfolds his principles and the force with which he urges them on our serious consideration. Such being our views of the discourse, we cannot but earnestly recommend it to the perusal of every class in our community. It breathes a spirit of patriotism and abounds in matter which will not fail to prove beneficial. We have before taken a slight notice of Dr. Beecher's composition.Suffice it to say then, that while on the one hand he is very careless in the construction of his sentences, being frequently abrupt, seldom flowing and never harmonious, he is on the other hand forcible and vivid and occasionally he blazes out in a flame of overwhelming eloquence. It is said that were Michael Angelo as skilful as Raphael in finishing the details of his pictures, he would be the greatest painter that ever lived. But preachers as well as painters would do well to remember that a good filling up of the grand and impressive outline is very essential to a good piece. Literary and Philosophical Intelligence. Proposals have been issued for pubfishing by subscription, a Journal of Voyages and Travels in the interiour of North America, between the 47th and 58th degrees of north latitude, extending from Montreal, nearly to the Pacinc Ocean, a distance of about five thousand miles, including the principal occurrences, during a residence of nineteen years, in different parts of the country, to which is added a concise account of the face of the country, its inhabitants, their manners, customs, laws, religion, &c. and considerable specimens of the two languages most extensively spoken; together with a description of the principal animals, to be found in the forests and prairies of this extensive region. Illustrated by a map of the country. By Daniel Williams Harmon, a partner in the North West Company. A monument has been erected in the cemetery of this city, to the memory of the late General Humphreys. It is of granite, and is formed by a cube of three feet, resting upon a pedestal of five feet in breadth and one in height, and sur. mounted by an obelisk of nine feet. To the eastern and western sides of the block, are attached plates of bronze, on which is an inscription from the pen of Judge Trumbull. Eastern Side. DAVID HUMPHREYS, LL. D. ACAD. SCIENT. PHILAD. MASS. ET CONNECT. PATRIE ET LIBERTATIS AMORE ACCENSUS, PATRIAM ARMIS TUEBATUR. CONSILIIS AUXIT, LITERIS EXORNAVIT, IN BELLO GERENDO MAXIMI DUCIS WASHINGTON ADMINISTER ET ADJUTOR; IN REPUBLICA CONNECTICUTENSI, Churchman's Magazine.—A periodieal work bearing this title is to be published at Hartford, to be conducted by the Rev. Mr. Croswell, of New-Haven, the Rev. Mr. Noble, of Middletown, and the Rev. Mr. Wheaton, of Hartford. The Seminary at Philadelphia, under the superintendence of the Baptist General Convention, is to be removed to the City of Washington. Land has been procured, and buildings will soon be erected. The present number of students is eighteen. The painting of the "Surrender of Cornwallis," by Col. Trumbull, is completed. It is exhibiting in NewYork, but will soon be removed to Washington. The following remarks are from the New-York Advertiser: The time chosen by the painter is the moment when the principal British officers, conducted by General Lincolu, are passing the two groups of American and French Generals, and are entering between the lines of the victors. By this means, the most distinguished figures of the three nations are brought together sufficiently near to admit of their being portraits. In the distance and centre of the picture are seen the entrance of the town, with the captured troops marching out, and a distant glimpse of York river, and the entrance of the Chesapeake, as seen from the spot. This painting occupies a canvass of twelve feet high by eighteen long, and contains no less than thirty-four portraits, all of which, except the few British officers are likenesses taken by Col. Trumbull from the life. The force and effect which are derived from the military display, and the fine figures of the officers, a great part of whom are mounted, cannot be described, nor easily imagined. To be realized, the work itself must be viewed; and we have no doubt it will be considered by all persons of taste and feeling as one of the first specimens of the art which modern times have produced. We never see it but with new emotions of admiration and delight.The opportunity of viewing so many of the distinguished characters of the revolutionary war, both of our own country and of France who were engaged in the service, assembled on so interesting an occasion-to view a de lineation of their living countenances, and of the scenery by which they were surrounded, brings home to the eye and to the heart, a train of feelings of the most solemn and impressive description. Italy. The Maremma or country of the Malaria forms the third district, extending from Leghorn to Terracina, and from the sea to the mountains, and having a width of twenty-five or thirty miles. A country so very singular in its character would necessarily require a very peculiar system of management. Our author develops this system in a visit he made, to a domain called Campo Morto, in the most deserted part of the Maremma. Here was a Fattore, charged with the administration of the farm. The whole Maremma of Rome is in the hands of eighty proprietors, who are called mercanti de' tenuti, and reside as well as their Fattori in the city. On this farm there were four hundred horses, of which one hundred were broken, two thousand hogs, which ran in the woods and fed on the acorns; some hundreds of cows, who give no other revenue than the sale of the calves, which is estimated at about eight dollars each cow; one hundred oxen used to the plough, and about four thousand sheep. The rent of this farm was about eighteen francs the arpent of cultivated land, amounting in all to about $22,000. The annual profit was about $5000, besides interest at five per cent. on the capital of the flocks. In the midst of this establishment there was a vast casale or farm-house, destitute of furniture and inhabited but a very few days in the year. Every thing around breathed the most perfect desolation; all was vast and silent.The harvest had just commenced and a thousand labourers, of whom one half were women, had descended from the mountains to gain a small pittance during a few days, by reaping the rich grain of six hundred and sixty arpents for the lordly proprietor, and if they did not perish at their toil, to go back after having respired the elements of a miserable death. Some days had elapsed since the harvest began, and only two labourers had been attacked by the fever of the Malaria: every day would, however, increase the number, till at the completion of their task, |