The above shows a falling off since January 1st equal to 663 per cent in wheat flour, and 33 per cent in corn, while it shows an almost total cessation in the shipments of wheat and rye, the total of both being less than 35,000 bushels against about 1,500,000 bushels for the same time last year. The shipments of cotton since January 1st from New York have fallen off about 20,000 bales, but from all other ports the shipments from September 1st to date have increased about 80,000 bales. In pork the shipments in the above table show a very large increase for the current year; and the same may be said in beef and cut meats, the latter including bacon of all descriptions. In shipments of butter and lard there has been a large decline, both ruling very high. If the present prospects are realized we shall have a more abundant stock of produce for export another year.

In Connecticut and New Jersey the system of banking under general laws is to be abandoned, and the banks organized under it are mostly to go on under charters. This is a retrograde step in legislation, and appears to be a concession to the clamors of a faction rather than a change of policy through conviction. We believe that many of the laws restricting the operation of banking might be repealed, and that in the end most of them will be given up. Banking in its legitimate sense, the loaning of money, ought to be free as air. We would go as far as the repeal of all laws fixing an arbitrary rate of interest. We have no fears of any monopoly not protected by law. If the banks combined to raise the rate upon borrowers, so much capital would be drawn to the business that the very competition would break down the combination. Let the usance for money be fixed and regulated like the value of any other commodity, by the demand and supply. If a bank were organized by a set of swindlers, they could hurt nobody in the way of loaning money, and let depositors look out for themselves; they need the protection of law no more than people who give credit in any other relation of business. The case is different, however, in regard to banks of circulation. To facilitate the ordinary transactions of business, that which passes as currency should command general confidence, and be worthy of it beyond a question. No man need make a deposit in a bank until he has had ample time to satisfy himself of its solvency. But the masses who receive and handle bank notes in small transactions can know very little of the credit to be attached to each, if such credit depended solely upon the character of the institution itself, and hence the importance of a general law compelling all who issue such notes to give security for their redemption. Such security should be ample and easily converted into coin, and bonds and mortgages should therefore be excluded. Gold and silver form the best basis, but this security if left with the banks is sometimes missing, and therefore the law requiring a deposit of value with some responsible State officer. Gold and silver coin is now so plenty, that all bank bills below five dollars should be prohibited in each of the States. If this were done there would be less importance in securing the redemption of bank notes, as there would be a much smaller amount left in the hands of the poor, who are always the greatest sufferers by bank failures, being less skillful in matters of finance. Private banks will come in the end to do most of the regular banking business, and we should not be surprised if the only issue of bank notes should then be such as were based on an actual deposit of the full amount of gold and silver in government vaults.

NEW YORK COTTON MARKET FOR THE MONTH ENDING JUNE 22. PREPARED FOR THE MERCHANTS' MAGAZINE BY UHLHORN & FREDERICKSON, BROKERS, NEW YORK.

At the close of our last monthly report, May 18th, our market was active at 10 cents per pound for Middling Upland, and 10 cents for Middling Orleans. At that time there were but few parties in the trade who anticipated a further advance, yet in reviewing the past month we find the sales to be the largest that have ever taken place in this city, and at an improvement in price of fully two cents per pound on all grades, and for desirable lists and qualities the advance has been greater in some cases.

The transactions during the month have been mostly of a speculative character; our home trade has, however, materially aided to sustain prices, not so much owing to their extensive purchases as to their confidence in prices, and the improvement in the value of the manufactured article, which, on print cloths, is equal to the advance in cotton during the past six weeks. With the exception of those spinners who are under contract, the purchases for the home trade have been only for immediate consumption; the probabilities are that our own manufacturers will be competitors for the balance of the crop with the spinners of Europe, and that present prices will see little or no diminution until the opening of the season with the present growing crop.

The advices from Europe during the month have been of a satisfactory character. An abundant money market has enabled buyers in the Liverpool market to operate to an enormous extent-the sales being over 100,000 bales per week, and for seven consecutive weeks the total transactions were 841,120 bales, at an advance of 14d. per pound. This improvement in the staple has caused a more extended inquiry for and a rise in the manufactured article, and there is no talk in the manufacturing districts of working short time-that bug-bear has lost much of its power on this side of the Atlantic, and if the spinners of Europe are to day richer than they were ten years ago, it is also a fact that they are compelled to run their machinery even at a trifling loss, in consequence of the equalization of capital and labor. The day is passed in England when the bone and sinew," the hewers of wood and drawers of water," were looked upon as mere automatons to do the will and bidding of the capitalist, and to be set at work or cast adrift, as a rise or fall in the market occurred. "If the rich but knew," says Bulwer Lytton, seems about to be understood and acted upon, and a resort to short time, or a stoppage of mills, is now an operation that requires more nerve than it did ten years ago, and which would be more disastrous to capital than labor.

The quantity taken by the trade in Liverpool from January 1st to June 8th averages 46,997 bales against 33,497 bales for same time in 1854, and it is represented that the stocks in spinners' hands, either manufactured or unmanufactured, is extremely small.

The amount of cotton to be received up to the 1st September can now be very nearly arrived at, and while opinions vary the general impression is that 2,750,000 to 2,775,000 bales will be the extent of the crop of 1854-5. It is satisfactory to know that the growing crop is represented to be in a fine condition, and it is not improbable that the receipts for the present year may be augmented 20,000 to 30,000 bales from the growing crop.

The transactions for the week ending May 25th were limited by the increased pretensions of holders and the small stock offering. The sales were estimated

at 12,000 bales--one half on speculation, the balance to the home trade and for export; the advance for the week being fully ↓ cent per pound, the market closing with an upward tendency at the following rates :

PRICES ADOPTED MAY 25TH FOR THE FOLLOWING QUALITIES:

The advancing tendency in prices continued during the week ending June 1st, the sales being 26,000 bales, at cent per pound improvement. Much confidence being felt in a still higher range of prices, the week closed with buoyancy at the following quotations:—

PRICES ADOPTED JUNE 1ST FOR THE FOLLOWING QUALITIES:

The sales for the week ending June 8th were estimated at 35,000 bales, including 12,000 bales sold in transitu. The stock in first hands being much reduced, and an easy money market enabling speculators to hold their purchases for a material advance, the quantity on sale was small. The market closed with much firmness at an advance for the week of a cent per pound :

PRICES ADOPTED JUNE 8TH FOR THE FOLLOWING QUALITIES:

The transactions for the week ending June 15th were 18,000 bales, at a fur

ther advance of a cent per pound. At the close of the week there was less inquiry in consequence of telegraphic reports from the South of increased receipts, owing to a rise in the rivers. With receipts even beyond, and a total crop exceeding that of last year--which is not possible--present prices would be sustained if not enhanced so long as consumption abroad is not interrupted. The market closed firm, with light offerings, at-

PRICES ADOPTED JUNE 15TH FOR THE FOLLOWING QUALITIES:

The sales for the week closing June 22d were 10,000 bales, and although the foreign accounts were of a highly satisfactory character, there was an increased desire on the part of speculators to realize on a portion of their purchases. The sales at the close of the week were at irregular prices, and the quotations annexed must be considered nominal:-

PRICES ADOPTED JUNE 22D FOR THE FOLLOWING QUALITIES:-
Mobile. N. O. & Texas.

Upland.

Florida.

JOURNAL OF BANKING, CURRENCY, AND FINANCE.

PROPERTY, TAXES, AND POPULATION OF PENNSYLVANIA.

The report of the Auditor-General of Pennsylvania furnishes the following statement, showing the valuation of real and personal estate in the several counties of the Commonwealth, taxable for State purposes; the assessment of tax thereon for the year 1854, as fixed by the Revenue Commissioners at their last triennial meeting ; also the population of each county, according to the census of 1850, and the taxable inhabitants therein for the year 1854:

Assessment

GOVERNMENT OF THE UNITED STATES-ITS COST.

The National Intelligencer recently published in a supplemental sheet, filling some twenty-four of its wide columns, a list of appropriations made at the Congressional Session of 1854-55, (prepared and published agreeable to law.)

This document ought to possess interest for every reader, and ought to be examined by every one, as exhibiting in the main the objects on which the public revenue is expended. The aggregate of the classified heads of expenditure is as follows:

Civil, diplomatic, and miscellaneous....

Army, fortifications, military academy, &c...

Indian department, naval, revolutionary, and other pensions.

Naval service..

Post-office department..

Ocean steam mail service

Texas debt

$17,265,929

12,571,496

4,453,536

15,012,091

19,946,844

8,574,458

7,750,000

$71,574,357

This vast sum of $71,574,357 is only the amount of specified appropriations. The great mass of contingent objects of expenditure, of which the sums were unascertained and could not be specified, may swell the grand total of the expenses of the year to perhaps seventy-five millions of dollars. Although the Government expenses must necessarily increase with the growth of the country and the corresponding necessities of the public service, one can hardly imagine the necessity of so vast an augmentation of the necessary expenses of the Government as seventy-five millions of dollars; and the immensity of the sum must arrest the attention of every intelligent reader.

TABULAR STATEMENT OF THE DEBT OF LATE REPUBLIC OF TEXAS. We annex for the information of our readers an official statement made up at the Controller's Office on the 1st of May, 1855, of the portion of the debt of the late Republic of Texas, which, according to the decision of the Secretary of the Treasury and the opinion of the Attorney-General of the United States, is secured by a pledge of Impost Duties, exhibiting the rate of adjustment established by Texas, and the rate proposed by the recent act of the United States Congress. Also the excess and decrease of each mode of payment compared with the other, and the dividend in the dollar, on the ostensible amounts, realized by each mode of adjustment: