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31.

There is a City Guard for Kingston, which was in- | Islands, 121. French, Rhenish, or Portugal Wines, stituted 28th July, 1783. It consists of two Lieute- 51. Beer, Ale, Cider, Perry, 21. Mum or Metheglin. nants, two Serjeants, and 44 privates, all well paid. Brandy, Arrack, or other Spirits, 18. 6d. per An extensive police-force is now organized for the gallon. Refined Sugar, 6d. per lb. Tobacco, whole island. The police-force consisted in 1836, of Indigo, 3d. Cocoa, in Island vessels, 158. per cat. 59 Serjeants at 1s. 6d. a day-5s. for weekly rations, In other vessels, 20s. and 21. 28. annually for clothing.-698 Privates at 1s. a day-58. weekly for rations, and 17. 98. annually for clothing. These services, together with Officer's pay, contingencies, &., cost for 1836, 51,1077. currency, or 30,610. Sterling.

Ad

Additional Duties.-Upon the importation of al Spanish and Madeira Wines, 91. 158. per Tun. Wine of Western Islands, 117. 28. French, Rhenish, or Portugal Wines, 221. 68. All other Wines not before enumerated, 221. 1s. Brandy, Arrack, or other Spirits, 68. 8d.; of United Kingdom, 58. 8d. Beer. Cider, &c., 31. 58. Tea, Is. 8d. per ib. Cattle Duty :Every head of Horned Stock imported, not being from Great Britain or Ireland, 21.

XII. The annual income or ways and means of the island, on an average of 10 years, ending 1831, was as follows:-Poll Tax (at 5s. 10d. per head on Slaves, and 28. per head on stock, exempting Working Stock on Plantations), Rents at 1s. 8d., in the £. and Wheat at 20s. 105,000l. Tax on Transient Traders, 150. Arrears of former Years' Taxes, 3,000. Land Tax, 23,400. | Deficiency Tax, 14,000. Rum Duty, 24,000. Jamaica Expenditure (as laid before Parliament in ditional Duty on Wines and Spirits, 15,000. Tea the return whence the foregoing statement is derived; Duty, 1,400. Goods from Foreign Ports, 4,800. defrayed by the Island in 1831:-Governor, 5,500! ; Goods from United States, 31,000. Surplus of Re-Chief Justice, 4,000; Assistant Judges, 3,400; Speaker venue, 8,300. Stamp Duty, 19,000 For Arms and of Assembly, 1,400; Governor's Secretary, 3,000; Gunpowder, 900. Balance of Cash 30th September, Officers of His Majesty's Customs, 23,390; Clergy of 1830, 147,945. Duty on Cattle imported, 1,000. Established Church-Curates' stipends, 8,000; RecTonnage Duty on Ships, to pay Custom House Sa- tors' ditto, 11,718; Registrar and Appositor to the laries, 25,000. Loan to be raised 50,000. Debts due Diocese, 475; Annuitants, being widows and orphans to Public on Judgments, 500. Double Duties received of the Clergy, 2,000; Expenses of building Chapels, by Officers of Customs and refunded, 15,048. 1,400; Total, 23,5931. Ditto Presbyterian; PresbyTaxes Internal A Schedule (in currency) of all terian Institutions, 301; Support of Kirk in KingTaxes, Duties, Fees, and all other sources of Revenue, ston, 700; Presbyterian Charity Schools, 200; Total, payable into the Public Treasury of Jamaica during 1,2017. Ditto Roman Catholic, 200; Charitable the Year 1836, and the several Laws and Authorities Institutions, 14,656; Army Expenses, 157,032; Clerk under which they are derived. Quit Rents-Upon of Supreme Court and Provost Marshal, 1,160; Seevery Acre of Land, 3d. Tax on Public Officers:cretary of Commissioners of Public Accounts, 1,000; Registrar in Chancery; Island Secretary; Provost-Secretary of Ditto Correspondents, 300; Clerk of Marshal; Clerk of the Supreme Court-each 601. Board of Works, 400; Commissioners of Stamps, Masters in Chancery:-An Admission to practise as 1550; Deputy Receiver General and Secretary at the such, each 5002. Poll Tax :-On all and every Head of Outports, 1,560; Marshals of Militia Regiments, Stock of Horse kind, 10d. On all and every Bull, Cow, 1,050:-Pay, 14000; Contingent Accounts, 20,645; Calf, Heifer, and follower, 10d. Upon every Wheel, Rations, 72,000; ditto to 1st April, 1831, 35,700; (such as are made for the carriage of goods only, ex- Repairs of Barracks, 10,483; Lodgings for Officers, cepted,) 20s. Upon the value of all Goods imported, 2,090; Island Pay, ditto, 997; Sundry Wharfage, not bonâ fide consigned at or from the place of ship- Water, &c. for Troops, 1,115; Total, 157,0321. Alien ment, by bill of lading and invoice then signed to a and Bonding Office, 600; Island Agent, 2,542; CapMerchant paying Taxes, 5 per cent. Additional Duty. tains of Forts, 669; Officers of Assembly, 6,146; On the actual value of all Houses, Storehouses, Island Botanist, 560; Engineer and Surveyor of the Wharfs, and other Buildings, rented out at 101. per Public Works, 740; Storekeeper, 500; Receiver Annum and upwards in any Town or Trading place, General, 7,000; Law Expenses and Gaols, 14,874; 1s. 8d. in the £. Roads, Bridges, and Public Buildings, 25,850; Printing, 7,159; Militia Arms, and Gunpowder, 8,594; Board of Works, 8890; Premium on Increase Slaves, 8120; Registry and Vestry Returns, 5,378; Maroons and Superintendent of Maroon Towns, 2,300; Miscellaneous, 10,000; Interest on Public Loans, 16,900; Total, 370,000.

Excluding the shillings and pence (as given in the Parliamentary Return) the total ways and means thus given for Jamaica in 1831, is 489,7431.

Duties Internal.—On every gallon of Rum, or other Spirits, made and consumed in the Island, 18. 6d. Stamp Duties:-Raising a Tax by a duty on Vellum, Parchment and Papers. Fees :-Of the Chief Justice, collected by the Clerk of the Court, and by him paid into the Public Treasury. On Private Bills passed the Assembly. Fines:-Those imposed in Courts of Justice. Duties on Vessels and Cargoes. Gunpowder Dues. On Vessels entering from places beyond the Tropics, each voyage, 6d. Trading Coastwise, or within the Tropics once in each year, 6d. Transient Poor's Tax Tonnage:-On Vessels entering from places beyond the Tropics, each voyage, 6d. Trading to places within the Tropics, 3d. Trading Coastwise once each year, 2d. Customs; Tonnage; To pay Officers:-On entry of every Vessel (not Coastwise) exceeding 40 tons, 4s. 2d. per ton. On Coasting Vessels, and Vessels not exceeding 40 tons, once in each year, 4s. 2d. per ton. Revenue Duties, (1 Geo. II. cap. i.) :-Upon the Importation of all Spanish and Madeira Wines, 61. per ton. Wines of Western

The Jamaica Budget for 1832 gives the Taxes and Internal Duties at 207,3671.; Duties on vessels and cargoes, 95,970; the certificates in circulation were 399,2057.; and the loan certificates, including 64,415/. loan deposits was 250,0351. Of the expenditure, the military amounts to 184,1431. besides 222,7291. for the general defence of the Island, of which 176,6911. was incurred for martial law in 1832. The civil expenditure was 85,0781., of which 15,5441. was for interest. Mr, Burge says,-"The annnal expenditure of Jamaica is 489,8497.; to this must be added 10,0001. whis is annually raised, and is a perpetual revenue granted to the Crown, and made applicable to the orders of the Governor in Council, and over which the House of Assembly exercises no superintending

control.' It was given in evidence before Parliament | ditto, 2,2877.; 84th ditto, 2,264-16,7431. Allowance in 1832, by the same authority, that "the Island of for Lodgings in lieu of Quarters :-General Staff, Jamaica sustains the whole burden of its Government, 1 2017.; 8th Regiment, 1517.; 37th ditto, 147.; 56th with the exception of the salary of the Bishop; every ditto, 5537.; 64th ditto, 38/.; 84th ditto, 554/.;--2,5127.; other species of its expenditure, including its eccle- Currency, 19,2551., or Sterling, 11,553ł. siastical, military and civil establishments, are defrayed by the island iself."

Commissariat, 1836. Provisions and Forage, 49,1921.; Fuel and Light, 2,6647.; Miscellaneous Purchases, 135/.; Transport, 1,270.; Pay of extra Staff, 5267.; Military Allowances, 6,1334.; Special Services, 30,8927.; Congencies, 2,2404.; Ordinary Pay of His Majesty's Land Forces, 62,4541.; Pay of Commissariat Officers, 2,124/.; Advances to the Navy, 16,2371.; sterling, 173,8721. Ordnance, 1836. Agents to the Military Corps, 5,000l.; Frgineer Department, 7037.; Artillery Department, 4:54.; Storekeeper's Department, 1,470; Hired Buildgs, 1,376.; King's Barracks, 2,0781.; Transferred harracks, 5,6617-16,753. Deduct Sum granted by the Colony in aid of Repairs to Barracks, transferred additional, 4s. 4d., 6,500l.; Sterling, 10,2534.

A Return of the Pecuniary Allowances granted to the King's Troops in the Islands, during the Year 1836. Allowance to Officers in lieu of Rations, viz. :--Gen-ral and Staff, 1,3911.; Royal Engineers, 1987.; Royal Artillery, 1,3251.; 8th Regiment, 18521.; 22nd ditto, 2,4134; 37th ditto, 2,759.; 56th ditto, 2,2507.; 64th

Recapitulation of the Establishment, 1836.-Paid by the Colony in sterling Money --Civil Establishment, 33,2301.; Contingent Expenditure, 20,8007.; Judicial Establishment, 4,3467.; Contingent Expenditure, 7,6134.; Ecclesiastical Establishment, 14,2207.; Military Expenditure, (Regular and Colonial) 72,0097.; Miscellaneous Expenditure, including Re-payment of Loans, Public Institutions &c., 55,4821.; Pensions, 17667.; Grand Total, 207,4681.

Local Revenues.-St. Catherine's, 7,3351.; Kingston, (by Corporation) 33,4004.; St. Thomas-in-theVale, 3,6371.; ditto, (Road Tax,) 3464/.—7,1037.; Vere, 56007.; Portland, 2,723.; Hanover, 7,4831.; Manchester, 3,8017.; St. Thomas in the East, Parochial, 7,8667., Road Tax, 5,187.-13,053; St. John's, 2,500/.; St. Ann's, Parochial, 7,513., Road Tax, 4,910/-12,4237.; Westmoreland, 11,0751.; Total, Local Revenues in Jamaica, 196,4967.

This Amount is expended in each Parish, in Parochial Affairs, for the Support of the Poor, Payment of Officers of the Parish, Repairing Buildings, &c.

XI. The trade of this important island is very considerable.

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837 132748] 1923 322 97597 136 16349 266 30867 277 18375 1001 163188 10087 1825 274 84740 105 12557 179 24866 218 15874 776 138037 8404 1824 258 79219 143 16183 263 36785 248 17385 912,149572| 33 1822 271 79925 179 24087

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1831

1

4893 324 89187
59
80 11400 100 15792 133 11527 428 67971
1834 236 70944 135 18318 135 21655 194 16640 700 127521
1835 182 54156 113 14802 126 20152 176 14826 597.103856
51
1836 182 55054 152 19723 146 19007 286 16954 772112075
Do.
8554
1832 155 68356 59
1833 115 29252
1837

SHIPPING OUTWARDS.

3986 373 29190 875151610 1824 301 92779 141 15052 260 35635 238 17645 940 161111 1823 274 86825 131 15038 219 25548 309 23942 933 151353 1825 253 78588 117 13260 162 22182 232 17614 764 131644|| 1822 310 96193, 151 22241 33

222

No Return

1829 287 87729 145 18205 Do. 1828 277 86532 138 19959 1830 290 87480 154 21766

Do.

Do.

8463

41

75 10444

69999

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285 28610 700 135101| 256 24454 688 130388 255 21501 699 130747 4C39 336 74488 55 92 13771 244 24339 718 131486 7965 55 9747 185 18356 385 59452 1836 187 59452 155 21128 110 16601 330 21974 782 119066 7510 1835 208 64907 120 16485 105 17125 266 22525 699 121042 70 20905 1834 258 78014 124 15362

1837

4127

3556

6192

The Blue Books for Jamaica are the worst returns

the Colonial Office; there is a slovenliness, a total sant of decorum to the home authorities manifested s every document; almost invariably there is no mming up of the totals. This conduct is not conto the Colonial Office returns: the Registrar General of Shipping has stated a similar negligence prevails in his returns. The foregoing table must

D

therefore, I fear, be considered only as an approxi

mation to correctness. Some of the years are derived from the Custom House documents, or parliamentary papers; others from the Blue Books at the Colonial Office, and others from the Board of Trade returns. It is to be hoped that the authorities of Jamaica will in future pay more attention to the important subject of statistics.—R. M. M.]

A General Return of Exports from the Island of Jamaica for 55 Years, ending 31st December, 1836.
(Appendix to Slavery Papers in 1838.)

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499 485
699 512
379 436

230 2321

71017

61644

293 520
446 1110
1812 105283
151 804
1813 97548
382 874 208 816
1814 101846
202 1146 145 884
1815 118767
574 1398 242 1493
1816 93881 9332 2236 35736 769 281 903 166 2354]
1817 116012 11094 2868 47949 1094 203 916 254 3361
1818 113818
11388 2786 50195 1108 121 191 407 2526
1819 108305
11450 3244 43946 1695 602 1558 253 1714

1820 115065 11322 2474 45361 1783 106 460 252 1159

1821

111512 11703 1972 46802 1793 153 534 167 984)

1822 88551 8705 1292 28728 1124 9 442 144 891

1823 94905 9179 1947 35242 1935 20 118 614 1041

1824 99225 9651 2791 37121 3261 5 64 910 2230

1825 73813 7380 2858 27630 2077 101 215 894|3947|

1826

99978 9514 3126 35610 3098 1852

549 5724

1827

82096

7435 2770 31840 2672 1573

204 4871

1828 94912 9428 3024
189:5382
1829 91364 9193 3204 36285 2009 563
66 4101
1830 93882
8739 3645 33355 2657 1367
154 3494
1831 88409 9033 3492 34743 2846
230 3224

1832

91453 99-7 4600 32060 2570 1362)

1833 78375 9325 4074 33215 3034 977

1834 77801 9860 3055 30495 2588 1288

1835

8840 3455 26433 1820 747

1836

7707 2497 19938 874 646

1837

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1793 77575

6722 642

28273 11745425 Bourbon cane introduced.

12759 11116474

62 8605 420 9108 3983576
121 10305 554 22153 4911549
426 14861 957 20451 6318812
690 20275 136
98201 7203539
1797 78373 9963 753
239 29098 328 2935 7869133
1798 87896 11725 1163 40823 2234
119 18454 1181 8961 7894306
1799 101457 13538 1321 37022 1981
221 10358 1766
1800 96347 13549 1631
37166 1350
444 3586 610
1801 128251 18704 2692 48879 1514
12 239 648
1802 129544 15403 2403 45632 2073 473 205 366 23
2079 591
1803 107387 11825 1797 43298 1416
4611 51 3287 867
1804 103352
12802 2207 42207 913
429 1094)
1805 137906 17977 3689 53211 1328 133 167, 471 315
1806 133996 18237 3579 58191 1178
17344 3716 51812 1998
15836 2625 52409 2196
14596 3534 43492 2717
4560 3719 42353 1964

1807 123175
1808 121444
1809 104457
1810 108703

1811 127751 15235 3046 54093 2011

11357 2558 43346 1531
10029 2304 44618 1345
10485 2575 43486 1551
12224 2817 52996 1465

1177 25586668

21163 25885285
22074 17460068

7778 18481986

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Val. No. Tons. Val. £ Val. £ No. Tons. Val. Tons. Val. £ No. Tons. Val. f No. Tons. Men.

4010

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780

141 486

-

3277 18 6190

27583 28 4372 15911 20 2249 40543 27 5346

1233 17 6020 239 10954 16 1488 12830 171 2384 3909. 31 1020

124550 182 55054|

87318 163 18157 1337
27665 81 10912 738

4442 135503 152 19723 137996 146 19007 94985 286 16954 593579 772 112075 7170
From Elsewhere to Kingston, 557; ditto to Montego Bay, 4!.

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Val. No. Tons. Val. £ Val. £ No. Tons. Val. Ton Val. £ No. Tons. Val. £. No. Tons. Men.

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59452 51760 70248 155 21128 111916 110'16601 374599 330 21974 3273188 782119066) 7510

To Elsewhere from Kingston, 26871.

A statement of the quantity and value in sterling money of various articles of merchandize exported from the colony of Jamaica during the year 1834, Board of Trade volumes.)

Arrow root, 170,078 lbs., 74831. Cinnamon, 2256, 5431. Cocoa, colonial, 52,910, 1200l. Coffee, colonial, 18,029,165, 612,1991. Coffee, foreign, 141,093, 23971. Old copper, 71,633, 2411. Corn, wheat, flour, 1616 barrels, 23971. Cotton manufactures :-British 11,026,207 yards, 279,9641. Foreign, 17,915, 531. Entered at value, British, 1920. Total value of cotton manufactures, 282,315. Cotton wool, colonial, 1160 lbs., 601. Foreign, 17,586, 4391. Dye and hard woods-Fustic, colonial, 2126 tons, 88551. Foreign, 886, 46667. Logwood, colonial, 84324, 33,710. Foreign, 4, 18. Mahogany, colonial, 1936 feet, 69 pieces, 1841. Foreign, 109,014 feet, 160 pieces, 20301. Other dye and hard woods, colonial, 2723 feet, 1830 tons, 78521. Foreign, 342,198 feet, 529 tons, 99741. Total value of dye and hard woods, 67,2881. Fruit,

value 4481. Ginger. 1,011,173 lbs., 39,4661. Hides' number 12,825, 69361. Indigo, 37,555 lbs., 5822l Iron and steel manufactures, British value, 23,6481· Hardware and cutlery, foreign, 3401. Lime-juice, 17,708 gallons, 10701. Linens, entered by the yard, British, 1,881,085 yards, 67,9341. Ditto entered at value, 6917. Ditto entered by the yard, foreign, 450,221 yards, 15,9431. Total value of linens, 84,5687. Molasses, 50,795 gall., 32831. Pimento, 3,271,184 lbs. 52,1591. Sarsaparilla, 67,606, 30511. Silk manufactures, British, value 811. Foreign, 1051. Spirits :Rum, 3,583,861 gallons, 350,2281. Shrub, 756, 1271. Succades, value 49391. Sugar, colonial, 156,616,964lbs. 1,539,946l. Foreign, 105,823, 14731. Tobacco, unmanufactured, 20,447, 4831. Tortoise shell, 5491, 67691. Wines of all sorts, 5183 gallons, 21231. Wood, spars, number 18,957, 30841. Other sorts, value 4421. Woollens entered by the yard, British, 60,409 yards, 68471. Miscellaneous articles, value 32,6261. Total 3,148,7971.

A return of the Staple Exports of Jamaica, from the 10th October, 1836, to the 10th October, 1837.

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XII. The monetary system in the West Indies is very irregular. In no two islands are the denomination and value of the coins alike; and these, again, vary in proportion to the sterling money-thus:

Jamaica

Barbadoes. Windward Isles, except Barbadoes Leeward Isles

Doll. Cur.

56247 7488 2286 21308 970 173 5518 | 227 47538 8955178
Custom House, Kingston, Jamaica, December 30, 1837.
bills, the exchange is thus adjusted: If bills bear a
premium, say 20 per cent, then a bill for 1001. ster-
ling is said to be equal to 1201. sterling; this latter
sum, turned into Jamaica currency at 40 per cent.
makes a bill for 100. sterling require about 1681.
currency. Gold-Doubloons, equal to 16 dollars; half
doubloons, 8 dollars; pistole, 4 dollars; Joe, 16 dol-
lars; half joe, 8 dollars; dollar, 1 dollar; sovereign,
5 dollars; half sovereign, 24 dollars; half pistole, 2
dollars. Silver-Dollar equal to 6s. 8d. currency;
half dollar, 3s. 4d.; maccaroni, 1s. 8d.; shilling ster-
ling, 1s. 8d.; sixpence sterling, 10d.; half crown ster-
ling, 4s. 2d.; two bits piece, 1s. 3d. tenpenny piece-

1=6s. 8d.
1 6s. 3d.

Sterling. Cur.
1001.=1401.
1001. 1351.

100l. 1751.
1001. 2007.

1

88. 3d. 1 98. Od.

As regards Jamaica this is the nominal par of exchange. In real transactions of buying or selling

101.; fivepence, 5d.; bit, 74d. No copper coins in circulation in this island, silver and gold alone. Paper currency.-Amount in circulation bearing interest, none. Amount in circulation not bearing interest, 239,5187. stg. Metallic currency estimated at 100,000l. The distribution of the certificates in circulation, from 1822 to the year 1832, is as follows:-Of 1922, 6457.; 1825, 6535ł.; 1826, 41,2037.; 1827, 79,9284; 1828, 61,7417.; 1829, 39,965l.; 1830, 96,4997.; 1831, 10,8257.; 1832, 12,000l.; and of 1832, comprising 11. 21. and 31. certificates in circulation, was 49,8641. Amount of paper money in circulation in 1833 :Certificates not bearing interest (A.) (checks for circulation of various denominations as low as 11. currency, purporting to be payable in cash to bearer on demand at the public treasury of the island. There is, however, no specie in the chest to cover any part of the sum.), 285,7134. 11s. 5d.; certificates bearing interest (B.) (certificates of 501. currency each, issued under the authority of commissioners. They bear interest at 6 per cent., but have no time specified for payment.), 32,7001.68.9d.; certificates bearing interest (C.) (certificates of loans which have fallen due, and are payable to bearer on demand at the public treasury.) 24,8577. 28. 10d.; total, 343,2717. 18. sterling. The legal rate of interest is six percent.; the Government borrow at five. Course of Exchange paid on Merchants drafts on London, at 90 days, during the year 1836. In January, 16 per cent. premium; February, 15 to 16; March, 14 to 15; April, 14; May, 134; June, 134; July, 12 to 13; August, 12 to 13; September, 16; October, 164; November, 164 to 17; December, 19.

The Colonial Bank for the West Indies, which has its head quarters in Jamaica, was incorporated by charter on the 31st May, 1836, with a capital of 2,000,000i. sterling, in 20,000 shares of 1001. each, 25 per cent. paid up before commencing business. Its management is confided to a chairman, vice-chairman, thirteen other directors, and three auditors.

Five directors and one auditor retire in rotation annually, each however being eligible to be re-elected. Five shares give one vote; ten shares two votes; twenty shares three votes; forty shares and upwards four votes, for a director, &c.; and twenty shares form the qualification for a director.

All the business and proceedings of the bank managed and directed under the immediate orders of these directors, at yearly stated meetings, and at public general meetings of the proprietors, called by at least twenty days' notice in the public newspapers in London. Special general meetings may be called in a similar manner by any ten subscribers, cach possessing 10001. stock or upwards. Subscribers entitled to vote may vote by proxy, but which proxy must be a subscriber, and produce a written authority to the secretary for that purpose. The practical banking operations of the Colonial Bank are confined to the British West Indies, and its capital can only be applied to the legitimate and defined system of banking. The words of the charter itself, which are-

"To carry on the business of bankers, by dealing generally in bullion, money, and bills of exchange, and lending money on commercial paper and government securities, and in such other lawful ways and means as are usually practised among bankers; but it shall not be lawful for the said corporation to lend or advance money on the security of lands, houses, or tenements, or upon ships, nor to deal in general wares or merchandise of any nature or kind whatsoever;" moreover, "and further, that the said corporation shall be bound to make up and publish in some newspaper or newspapers, circulating in each of the colo

nies, where a bank shall be established, and also in the London Gazette, once in every year, an account or statement shewing the whole amount of its debts and assets at the close of the past year, and shewing also the amount of its notes payable on demand, which had been in circulation during such month of every year, together with the amount of specie, distinguishing each kind, and other assets immediately available in every such month for the discharge of such notes; and that the said corporation shall furnish copies of such yearly amount or statement to the res pective Governors of such Island or Colony, in which a principal bank or banks shall be established."

According to the terms of the charter, the bank is allowed to possess lands, houses, and tenements, and ships, so far as may be necessary for carrying on the business of the establishment every where, but for that purpose only; and of course it has the power to purchase and to sell the same.

The shares are of course transferable, and the charter lays down simple rules in order to save expense in this operation. Silver, not gold, is taken as the standard of value. The notes of the bank are payable “in silver of acknowledged weight and fineness," and dollars are taken as the foundation and medium of pay. ment, those being the almost universal currency of the whole Western World. The lowest note that the bank can issue is to the value of five dollars. The head quarters of the bank is in London.

The system upon which the bank is established is wholly that which is designated the Scotch system. One peculiar feature of which is lending money at legal interest in what is denominated cash credits, granted on adequate personal security; these credits are not things of a day, a month, or a year, they exist for a life time at the will, or on the life and the solvency of the individual holding them, or of his securities. If a security dies or becomes insolvent another is required and procured, and the credit proceeds. It is gone about thus: the individual in any business or in any station requiring such a credit, comes to the bank and says, I want a cash credit for 1004, for 10004. or for 10,000l., and here with my own personal security, is that of two or more friends to your satisfaction. Satisfied with the security offered, a simple bond is entered into, the credit is granted, and from that moment the individual operates upon it; he draws out as he wants, and he pays in as he is able, and at the end of the year if the balance is against him, he is merely charged the interest for that sum, according to the time in which such balance has arisen.

The rate at which the Colonial Bank discount mercantile bills, and advance money on loans, is five per cent. per annum. Besides this, the bank allow interest on deposit accounts, according to the Scotch system, which is of two kinds-First, money deposited by any one to-day, and which may be drawn out tomorrow, or when the depositor pleases, in order to meet his engagements; Secondly, sums lodged on receipt accounts, which it is generally known will run for a year, when the depositor comes and receives his interest, adds it, and probably more or less to the sum, deposits the whole, and gets another receipt, bearing interest. This system is most extensively followed by the peasantry and labouring population in Scotland, beginning from 54. or 101., and running up to 2001. In 1826 it was ascertained that the amount of money thus deposited in banks by this portion of the population of Scotland was upwards of 13000000. sterling. On such deposits a higher rate of interest than the other can be allowed.

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