ance of a man. The sago, on being taken off the fire, is spread out to cool on large tables, after which, it is fit to be packed into boxes or put into bags for shipment; and it is known in commerce under the name of pearl sago.

Thus the labor of fifteen or twenty men is required to do that which, with the aid of simple machinery, might be done much better by three or four laborers. A water wheel would both work a stirring machine, and cause an inclined cylinder to revolve over a fire for the purpose of drying the sago, in the manner used for corn meal and flour. But the Chinese have no idea of substituting artificial means, when manual ones are obtainable.

IMPROVEMENT IN THE MANUFACTURE OF SUGAR.

Mr. L. J. McCormick, of Baton Rouge, (La.) has invented an improvement in the✓ manufacture of sugar, which cannot fail to be of great advantage to planters. By this invention, one cord of wood alone is sufficient to manufacture one hogshead (1,000 lbs.) of sugar; which is less than one third of the fuel now consumed to produce the same result. Mr. McCormick says naïvely enough, "To establish this invention, I must be remunerated in some way; and if the sugar planters have not the liberality and enterprise to pay for its establishment on their plantations, they may have the firmness to risk a few thousand dollars in a bet that it will not succeed."

BEET SUGAR IN MICHIGAN.

It appears by an article in the Genesee Farmer, that the people of Michigan are more extensively engaged in the beet sugar business, than any other part of the Union. Several companies have been formed for the purpose, which have planted large quantities of beets, and some wealthy individuals are planting largely on their own account. The Hon. Lucius Lyon, of Ionia county, came to Rochester a short time since, and purchased at the seed store in that city, over three hundred pounds of sugar beet seed, together with machines for sowing and cultivating them. Mr. L. stated that he intended to plant one hundred and fifty acres of beets, and to erect suitable buildings and apparatus for an extensive sugar manufactory. He expressed the fullest confidence in the success of the enterprise, and has sent to France for an experienced workman to superintend the buisness.

NATIVE GOLD.

Among the many varieties of minerals which abound in Missouri, says the St. Louis Republican, we now have incontestible evidence of the existence of gold. We have seen a lump of native gold, which was found on the farm of Mr. Bacon, on the waters of the Merrimac, about thirty miles from St. Louis. The lump was turned up where he was ploughing, and was about half the size of a hen's egg. The piece shown to us was a part of the large lump. It had been assayed by one or more of the gentlemen of the Western Academy of Natural Science, and pronounced to be about seventeen carats fine. We are told that a number of lumps of the same kind have, at different times, been picked up in that neighborhood, but no one knowing what metal it was, it has heretofore elicited very little attention. We are not informed whether the indications are such as to justify the expectation that it exists in large quantities. We presume, from its having been found in several places, that there will yet be more important discoveries made.

LEGHORN STRAW.

The Bulletin des Sciences states, that M. Fournier, of Geneva, visited Florence in 1823, and made inquiries respecting the bearded wheat of Tuscany. He says this wheat is cultivated both for bread, and for the manufacture of straw braid; in some parts of the valley of the Arno, between Pisa and Florence, it is cultivated for the straw only. The seed is sown very thick in poor, stony land; when the grain has grown to the height of a few inches, it is mown, that the stalks may be more delicate; if they are still too large they are mown again, and if necessary, two or three times more; when the stems are sufficiently fine, they are suffered to grow, and as soon as the plants are in blossom, the grain being yet in the milk, they are pulled up; they are then exposed to the sun upon the sand near the river, and watered from time to time. After the straw has acquired a proper color, it is carefully assorted according to the fineness and length of the stalk. The only part used for fine braid, is that which extends from the head to

near the first joint; the part between the first and third joints is reserved for common braids. M. Fournier presented samples of the straw, unprepared, to Mr. Salisbury of England.

BANKS IN SOUTH AMERICA.

A citizen of the United States has obained a charter from the Republic of Eucador, for a bank, the principal branch of which is to be established at Guayaquil. The chief provisions of the charter are as follows:

The bank is to be one of discount and deposite. The capital, five hundred thousand dollars, to be paid in the coin of the Republic, and to remain constantly in the

bank.

The bank may issue bills, payable in specie at sight, to twice the amount of the capital. No bill to be issued for less than ten dollars, under penalty of forfeiting their charter. These bills shall not be held as legal tender in payment of debts. The government may receive them in payment of duties, but will not compel its creditors to receive them.

The bank shall lend to no individual, at one time, more than ten thousand dollars. It shall hold no property, other than the banking house.

It shall not be concerned, directly or indirectly, in any commercial transactions, other than the puchase of bills of exchange, foreign and domestic, under the penalty of forfeiting its charter.

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The bank may demand nine per cent. interest upon its loans, and no more. officer or director of the bank shall borrow from it more than five thousand dollars at any one time.

The charter shall continue for ten years, revocable at the pleasure of the govern

ment.

The bank shall receive in deposite all funds of the government, and pay them out, free of charge.

LOSS OF BANK NOTES.

The old Bank of the United States was chartered in 1791, and in active operation for twenty years. Its circulation never exceeded twenty millions. In 1823, by decree of court, the trustees of the Bank were released from any obligations to redeem outstanding bills, as twelve years had elapsed from the expiration of the charter; and notice, by public advertisements, had been widely spread for seven years. The notes then unredeemed amounted to two hundred and five thousand dollars. A fund of five thousand dollars was reserved for instances of peculiar hardship; but the whole amount presented does not much exceed eleven hundred dollars to the present time, of which the greater part was in the hands of an invalid revolutionary soldier, and liquidated in 1825. A note of ten dollars, however, was redeemed a short time since.

The result of the note account of the second Bank of the United States cannot be known for some years. An estimate was made by the government in fixing the price of the seven millions of stock sold to the Bank, but the amount was, of course, a matter of mere speculation.

DAILY VALUE OF SUNSHINE.

The value of the agricultural products of the United States cannot be less than $500,000,000 annually. The perfection of this is depending on the weather of four months, June, July, August, and September, or about 120 days. Every one knows that without sunshine the crops would be a failure either partially or totally; and hence we can estimate its average value at about four millions of dollars daily. There can be no doubt, that, considering the nature of the previous weather, the beautiful days preceding the 20th of July, added from ten to fifteen millions daily to the value of our ag ricultural products; yet, like many other good things, the very commonness of this invaluable and powerful agent, causes it to be overlooked. Without sunshine, the earth would soon become another chaos, destitute of order," without form and void."

LOUISIANA TOBACCO TRADE.

The largest cargo of tobacco ever shipped at New Orleans was that of the ship Rialto for London, the 26th ult. with 659 hogsheads, valued at New Orleans at near 200,000 dollars.

INCREASE OF FLOUR.

At one of our great flour marts, Richmond, Va. near 240,000 barrels and half barrels had been inspected the year ending June 30, exceeding we believe the amount of any preceding year.

WHILE the labor of the mechanic moulders or decays after him, the title of merchant is sounded for ages. Cities may be swept to the outline of their foundation; but, their merchants are kept in remembrance. Whole nations will war to protect a single merchant: for he carries the honor of his country at the mast of his vessel. His success is the success of that country; and his insolvency causes the firmest institutions of his own land to tremble. The ocean seems to rejoice with the freight of his ships; the winds lend him their breath; the iron appears to have become magnetic for him; his mere cipher is known and respected thousands of miles away; he has been called the steward of the world's stock; while the virtues of the earth are supposed to guide and to sustain him.

Even the gentler part of his household have, in monarchies, shone with a brilliancy that caused envy to arise in the heart of queens. Jane of France, wife of Philip the Fair, while residing a few days at Bruges, was mortified at the splendor of the merchants' wives: "I thought," said she, "I had been the only queen here; but I find there are above six hundred queens in this city!"

And who has not read of the Hanseatic league, whereby the merchant withstood the exaction of nobles, and rescued the sea from pirates? By industry and fidelity, the merchants, under this league, could run their cables almost round the world. Alas for them that they became warlike, and neglected the peaceable pursuit of commerce. It destroyed them and their many ships; and the time came when, to use the quaint language of the period, "most of their teeth were out, and the rest loose." Yet in the history of the world, there is not a more extraordinary example of what industry, with a strict union of interests for effecting a great purpose, can do, than was performed by the man of commerce under the league.

A Lecture read before the Mercantile Library Association of New-York, by CHARLES EDWARDS, Esq. and now first published in the Merchants' Magazine, by request of the Board of Directors.

All nations take special knowledge of the law merchant; and the common and statute law of more countries than one, leave the causes of merchants, in many cases, to their own peculiar code. The custom of merchants is even a part of the common law, of which judges must take notice; and if any doubt arise about the custom, they may send for merchants to know it.

The Magna Charta of England, (as strong a sheet-anchor as our declaration of Independence,) makes special provision for the safety of the strangermerchant. And it is not a little singular, that it should have found its way there; for Magna Charta is a mere interior treaty between a King and his natural-born subjects. However, so it is: and this gives Montesquieu the chance of saying that the English had made the protection of foreign merchants one of the articles of their national liberty, and shows how much they value those three great advantages, religion, liberty, and commerce.

And it does the heart good to recur to instances of mercantile character; and to observe upon proofs of the respect which countries have paid to the merchant.

The tact and generosity of an English merchant, Thomas Sutton, is said to have materially aided in the defeat of the Spanish Armada, and thereby saved British liberty from torture and thumb screws.

A fear of the power of merchants stopped Charles V. from establishing the inquisition in Antwerp; while a merchant of that city lent this king a million of money, and, at an entertainment which he gave him, burnt the bond in a fire of cinnamon-at that time a most costly spice.

A merchant of France raised an army at his own expense; and lent millions to his country. A Georgian of low birth was able, by the quiet acts of commerce, to obtain an immense revenue, and to keep 6000 troops in his pay. His doors were always open, he was beloved by his brother merchants, and known for his deep and various learning.

Russia, with all her extent of land, was as nothing, until that half Goth, Peter, surnamed by his countrymen the Great, promoted the advancement of commerce. He gave his personal attention to the building of ships, training of scamen, opening of harbors, and the establishment of ports.

Our own country, though young in her commercial relations, can already show what may be gained by the merchant. Girard has raised his own monument; Irving has deemed the enterprise of a merchant a fitting theme; while the furnace of the present time will bring out the refined gold of mercantile character, and make it a subject for future history. Nor does it matter from what source a merchant gains his greatness.

Cities subsist by the manufacture of such slight articles as ribands. Denmark, in ancient days, gained her mercantile riches merely through her sale of herrings-all nations resorted to her, and brought precious commodities, and gold and silver, in exchange for these common fish. It is wonderful, too how a single article may, through the facilities of the merchant, increase in the market, and almost sink or sustain the balance of trade between commercial countries. In the year 1785, the import of cotton wool into England, from America, was only 5 bags; in 1786, 6 bags; in 1789, 108 bags; while in the years 1834 and 1835, the crops were, 1,254,328 bags. In the latter year, England and Scotland together, consumed 18,348 bags a week. The quantity of cotton wool exported by this country during 1835, amounted to 370,194,184 lbs., valued at the places of exportation at $16,435,746. Since the year 1792, the increase in the exportation of this staple from the United States, has been nearly 2,000 fold.

With such power in commerce, and such examples before him, the young man, who is looking towards merchandise for his future good, must naturally desire to gain the title of Merchant. What, then, constitutes a Merchant? A word, nevertheless, here, upon the idea which persons at times attach to the mercantile man. They lose sight of the broad space over which he carries his thoughts and property, and fancy his intellect to be as confined as his counting room. Taking one example, let us listen to the prejudices of Dr. Johnson. "At breakfast," says his entertaining jackall, Boswell, “I asked, what is the reason that we are angry at a trader's having opulence?" “Why, sir,” said Johnson, "the reason is (though I don't undertake to prove there is a reason) we see no qualities in trade that should entitle a man to superiority. We are not angry at a soldier's getting riches, because we see that he possesses qualities which we have not. If a man returns from a battle, having lost one hand, and with the other full of gold, we feel that he deserves the gold; but we cannot think that a fellow sitting all day at a desk is entitled to get above us.' "But," responded Boswell, "may we not suppose a merchant to be a man of an enlarged mind, such as Addison in the Spectator describes Sir Andrew Freeport to have been?" "Why, sir," retorted Johnson, " we may suppose any fictitious character. We may suppose a philosophical day laborer, who is happy in reflecting that, by his labor, he contributes to the fertility of the earth and the support of his fellow creatures; but we find no such philosophical day laborer. A merchant may, perhaps, be a man of an enlarged mind; but there is nothing in trade connected with an enlarged mind." Johnson is too well known at the present day to require a comment upon remarks hazarded for effect. He who could say that Americans ought to be thankful for any thing allowed them " short of hanging," will not have much weight with my hearers.

There are, also, persons who would sacrifice the merchant for the agriculturist; and consider the latter as all in all. However, gentlemen, the genius of a country who looks to her fields alone, sits like a poor shepherdess upon the mountains, who is content at seeing the waves of the surrounding ocean fashioned into white lambs, and the billows rise like her cattle in anger. The true genius will, with the glance of thought, see how that ocean is panting for the productions of the earth. Such an one proves to be a Minerva, who can and will cast aside her warlike emblems, to place the first vessel upon the sea, and encourage every Jason of her country to steer fearlessly for the golden fleece. The agriculturist bears no comparison to the merchant. Those persons who have lived in or visited maritime cities, must, at once, acknowledge this. The merchant can "stand as one upon a rock, surrounded by a wilderness of sea." The farmer must have his rich pasture, a kind climate, and seed to sow. He has to wait for hay time and harvest: the merchant casts his bread upon the waters at all seasons. There is as much difference between them as between an inventor and a mere working man. is true that Sully looked to the industry of the countryman as the only source of wealth. "Tillage and pasturage," it was a favorite saying of his, "are the two breasts by which France is nourished, the real treasures of Peru." It is likewise true that Sully seriously checked national industry by not encouraging manufactures and commerce.

It

Trade has this power over agriculture: it increases the wealth of a nation without the labor of producing or fabricating a single article. This is done through fearlessly carrying the dead stock of the agriculturist and planter to places where such stock is not produced. Trade is the foster mother of ag