FINANCES OF THE UNITED STATES. 



FLAGG, AZARIAII 0. 



291 



method. The old and new methods show 

 the following approximate equivalents as near- 

 ly as can be given : 



New Old 



Method. Method. 



t4 70 105JX 



4 70.V 105.S6JC 



471 105.97V 



4 71.V ; 



472 10620 



472X 



78 



74 106.05 



74* 106.76 # 



75 106.87.V 



76 107.10 



7ti)i 107.21Jf 



77 107.32}$ 



4 77>i 107.43% 



478 107.55 



Ne Old 



Method. Method. 



479 '."'."'.'.'.'.'.'.'.isn.'nM 



4 79# 107.885* 



480 108.00 



4 SO.V 108.1W 



481 108.22.V 



4 81>i 108.33Si 



482 108.45 



4 82>i 108.56JK 



483 108.67>i 



4 83>i 108.78,'i 



484 108.90 



4 84tf 109.01K 



485 109.X 



4 85)i 109.S3X 



4 86 65, par 109.45 



The act of Congress above referred to de- 

 clares that " the pound sterling shall be deemed 

 equal to four dollars eighty-six cents and six 

 and one-half mills, and this rule shall be ap- 

 plied in appraising merchandise, in the con- 

 struction of contracts payable in sovereigns, 

 or pounds sterling, and this valuation shall be 

 the plan of exchange between Great Britain 

 and the United States after the first day of 

 January, eighteen hundred and seventy-four." 



The Alta California gives the following an- 

 nual statement of precious metals produced in 

 States and Territories west of the Missouri 

 Kiver, including British Columbia, during 

 1873, from J. J. Valentine, Esq., General 

 Superintendent of Wells, Fargo & Co.'s Ex- 

 press : 



The combined product of all shows: For 

 1872. $62,236,913; for 1873, $72,258,693 un- 

 doubtedly the largest yield for one year in the 

 history of the Pacific coast. 



Dunn, Barlosv & Co.'s circular gives the 

 failures in the different States in 1870 to 1873 

 inclusive. The totals are : 



FOB CONNECTICUT. 



YEAR. Nnmber. Amount. 



1870 68 $1.820,000 



1R71 77 8,915,000 



1878 70 2.370.000 



1873 104 1,452,000 



TOR ALL THE STATES. 



1870 3.581 $88,242,000 



2,916 85,252,000 



4.009 121,056,000 



1873 6,183 228,499,000 



FOB NET YORK CITT. 



1STO 480 $20.573,000 



1871 324 20.740,000 



1H72 885 20.684.000 



1873 644 92,635,000 



From the above it will be seen that there 

 were more failures by 1,100 in 1873 than in 

 1872, with an increase in liabilities of $107,- 

 443,000. Of this increase in liabilities, New 

 York City is chargeable with $71,000,000, 

 showing that, throughout the balance of the 

 entire country, the increase in liabilities is 

 only $36,000,000. Of the New York liabili- 

 ties, a very large amount are those of banking 

 firms who owed largely to depositors and on 

 call loans on collaterals, a large quota of which 

 Lave been liquidated and adjusted. 



FLAGG, AZARIAH C., an eminent political 

 leader and financier of New York, born in 



Clinton County, N. Y., in 1790; died in New 

 York City, November 24, 1873. When he was 

 nine years old, his father removed to Rich- 

 mond, Vt., and at the age of eleven years he 

 was apprenticed to a cousin of his father's in 

 Burlington, Vt., to learn the printer's trade. 

 When be was sixteen, his father made an ar- 

 rangement with a printing and publishing 

 house there for his receiving a stipulated price 

 for his services, and that he should be allowed 

 to do over-work, and have opportunities for 

 reading. He remained in Burlington till about 

 1811, when he removed to Plattsburg, N. Y., 

 and served as a soldier in one of the New York 

 regiments in the War of 1812, participating in 

 several engagements. It was in 1812 or 1813 

 that Mr. Flagg established the Plattsburg Re- 

 publican, of which he was for a number of 

 years editor and proprietor. In 1823-'24 

 he represented Clinton County in the As- 

 sembly. Governor DeWitt Clinton appointed 

 him Secretary of State in 1826, ond this office 

 he held until 1833, when he was succeeded by 

 Hon. John A. Dix, now Governor. In the 

 following year he was appointed State Con- 

 troller by Governor Marcy. This position was 

 held by him for five years. In 1842 Governor 

 Bouck again appointed him State Controller ; 

 and he was reappointed by Governor Silas 

 Wright, and served until the adoption of the 

 new constitution in 1846. During all these 

 years, dating almost from his first appearance 

 in the Legislature, and after his removal to 

 New York City, which took place in about 

 184G, Mr. Flagg was one of the leaders of the 



