THE FARMERS* REGISTER. 



127 



lecollpciion of many in \h\s country, ami is la- 

 mentably insnlTident now. Its neglect has been 

 complained oC even in Europe. It lias been 

 roiiietuleij ibat nature would I'urnish according to 

 her own capacity the power ol' increase in tlii.-^ 

 particular. Tlius the eoil was to be llirnished 

 wiih the means oC promoiing vegetation by labor 

 mid art. J3iit here these were to slop, and the 

 Fiirnuiating f)rinciples were lo evaporate and be 

 wasted, and one or two good crops lost in waiting 

 for this slow process. 



But the blindness of this doctrine is vanishing 

 belbre the litiht and improvement of the present 

 nge. We learn from e.xperience that the earth 

 presents to industry and skill her ceaseless efi'orle, 

 and never pauses but from our neglect. 



ISubjoined is a table showing the loss of weight 

 in drying grasses. The white clover of 1822, 

 was taken in the shade. That of 1823, from a 

 light warm soil exposed to the sun. The red clo- 

 ver in 1823, was taken in the first year of its pro- 

 duct, in close growth, and for that reason falls 

 Fhort of 1822. The salt grass of 1822, was, I 

 have reason to suppose, a second growth, which 

 accounts for the difference of the two vRfirs. 



1822 1823 

 100 lb?, of green white clover gave — 17A 27 



' ' red clover 27| 25 



' ' herds grass 40 39 



' ' fresh meadow 30 44 



' ' salt grass 39 60 



• ' 2d crop or English Rowan 1S| 19 

 ' ' corn stalks 25 25 



' ' spiked oat grass gave 50 



' ' red top 46 



' ' Rhode Island 40 



' ' couch grass 48 



' ' marine black grass 38 



MONTHLY COMMEHCIAL REPORT. 



For the Farmers' Register. 



The resumption of specie payments, as noticed 

 last month, was of very short duration. The runs 

 on the United States Bank of Pennsylvania are 

 stated to have reached to about six million dollars, 

 and on the other banks ol' Philadelphia to about 

 an equal sum, when they were obligrd to suc- 

 cumb on the 4ih inst. The banks of Delaware 

 and iVlaryland readily followed the example. 

 Those ol Kichmond declined to do so, as did 

 some of their branches, but in this respect there 

 is no unity of action. It would be impraciicable, 

 of course, for banks to pay specie, whenever de- 

 manded, lor checks based on deposiies of the notes 

 of other banks, or on collections made in other 

 places; and those banks which proless to pay 

 specie, confine such payments to their own issues. 

 They must do this, or refuse deposites of current 

 money, which would be a greater inconvenience 

 to the community than suspension is. This course 

 is pursued by all specie paying banks.* A diff'er- 



* Being opposed generally to the opinions of our 

 much respected commercial correspondent in regard 

 to banks, it is perhaps enough for us to enter a gene- 

 ral disclaimer, without objecting to any particular 

 passage. Otherwise we should positively oppose the 

 above description of "specie paying banks," as in- 



ent one ie impracticable, and it is unreasonable to 

 lequire if. 



This failure of the United States Bank, (for fai- 

 lure it is called,) which lias caused this renewed 

 suspension, and the consequent derangement of 

 money matters, have increased the pressure which 

 previoiiely existed, and which now extends to 

 New York. The depression of some stocks is 

 enormous, lor example, Indiana 6 per cent., 001 

 Illinois 6 per cent., 54!! United Stales Bank 

 stocks, ^23 I ! !t Vicksburg Bank stock ^5^ ! ! ! 1 

 Many other stale and bank slocks are greatly 

 depressed, and those of rail roads, and other joint 

 slock companies generally are in a .-imilar condi- 

 tion. Thus the great mass of what were consi- 

 dered secure investments, is unavailable and un- 

 productive, and many persons are deprived of the 

 income on which they relied (or support. 



In the prices of produce in Virginia, there has 

 been little change during the monih. Tobacco, 

 SI to $8. CoMon, 8^cts. to lO^cts. Flour, ^4^ 

 to ,^4f. Corn, 42cts. io45cts. The recent accounts 

 from Europe (to 4ih inst.) are rather favorable 

 (or cotton and tobacco, but not for flour and grain. 



The warlike aspect which Europe presented a 

 (<;w months ago, has become pacific, except that 

 the means are retained, without any threat of be- 

 ing used. Even the Celestial Empire is said to 

 have lowered its tone towards Great Britain, find- 

 ing herself worsted in the conflict. An effort has 

 been made to raise a belligerent tone here, but it 

 found no response. Wiihout any preparation (or 

 the encounter, it was worse than idle to raise the 

 shout, and even with preparation, it were folly 

 to act precipitately, belbre resorting to a pacific 

 course. 



Exchanges m New York are thus quoted. 

 On Boston par. 



Philadelphia, 4| dis 



dis. 



Baltimore, 4 



Virginia, 4 



N. Carolina, 4-^- 



Charleston, 3 



Savannah, 5 



Augusta, 9 



London S per cent, premium 

 Feb. 26th. 



Mobile, 9 

 N. Orleans, 6^ " 

 Missouri, 9 " 

 Tennessee, 14 " 

 Kentucky, 8.^ " 

 Ohio, 8| " 



Mississippi, worthless. 



X. 



SHELL BIARL FOir&D IN A NEW REGION OF 

 niARYLAND, 



To tlie Editor of the Fanners' Register. 



Somerset, Md., Feb. 3d, 1841. 

 I am pleased to be able lo say, that a depoeiie 

 oi' Ibssil shells has been discovered, within a few 

 weeks, in Somerset county, Md., on the farm of 

 Theodore G. Dasheill, esq. 1 have seen and 

 examined a specimen of this shell marl, and 

 although I did not analyze it, from its apfiearance 

 it is fine marl. I have seen much of the shell marl 



applicable— but which is quite applicable to all the 

 banks of Virginia and other states, (at least south of 

 New York,) which now profess to pay specie, but do- 

 not, and probably never will pay it again, to such 

 extent as to deserve the name of "specie-paying," or 

 their paper being called truly convertible into specie. 



[En. F. R. 

 fSince, United States Bank stock has fallen to $18i', 



[Ed. F. R, 



