242 



THE FARMERS'. REGISTER. 



not only been lost, but mude hiirtlijl lo r^almon on 

 going down the rivers. Instead ol hemg so in- 

 jections, it may be rendered a most uselul adjunct 

 to other as well as to common manures, and I 

 think it very probable that if nitrate ol soda were 

 used along with it, its action inigiu come out still 

 more strikingly. 



Common fir bark may be put into a state lor 

 decomposition t)y laying it on roads belbre byres, 

 where the droppmgs ol the caiile will mix with ii, 

 and the carts yo over and grind it. I have had a 

 quantity operated on in this manner. 



THE POSITION OF NEW YOKK IN REGARD TO 

 BANKING AND SPECIE PAYMENTS. 



From llie Journal of Commerce. 



We hear (rom Philadelphia and other places at 

 the south, that the Banks ol New York will 

 speedily suspend specie payments. This report 

 has been so contidently circulated, that it has, at 

 least in some small degree, embarrassed ex- 

 changes on this city. The citizens ol' New York 

 sutler less li-om such an error ttian those at a dis- 

 tance who deal with us ; yet the injury is general, 

 and should not be inflicted without at least some 

 plausible ground lo supjioriii. J3ui we do not 

 expect to prevent the repeiiiion ol the rumor in 

 question by expostulation. We have no doubt 

 many men are very sincere in believing that the 

 New York banks must soon suspend. Pet haps 

 the fact that we write this article, and so show 

 that we care something about the matter, will 

 confirm their opinion. Those who chouse lo be- 

 lieve us, will have the benefit oi tlie iru;.li. There 

 is nothing in the stale ol thingi- ai prest-ni which 

 has the least tendency tu produce suspensioii here. 

 Specie is flowing in Iroin all quaiiers; ihe ex- 

 changes ol the wliole world are in our iavpr, wilii 

 the exception, it may be, ol' Cuba ; the pa|jer 

 held by our banks is almost all of it mercantile 

 paper, given lor actual purchases, and will be paid 

 at maturity, and very little of it has more ihan 

 ninety days to run. The meichants are eo inde- 

 pendent in their circumsiances, ihat the whole 

 ioans of the banks niighi t)e paid in without pro- 

 ducing any very great disuesp. Specie is as 

 plenty as paper. 'VVhat then is to cause suepen- 

 eion ? We sliall not break tiecause Pliiludelphia 

 breaks, or Baltimore, or any other ciiy. Their 

 course imposes no necetsity upon us, but ruiher 

 brings us strength. The uncenainiy about suulh- 

 eru currency is making New York, more rapidly 

 than belore, the settling house of the whole At- 

 lantic coast. Indeed we understand that it is no 

 uncommon thing lor transactions in Philadelphia 

 to be made payable in New York, thouiih neither 

 of the parties resides here ; and some of the lead- 

 ing houses, in Philadelphia and farther south, 

 have found it convenient to open accounts with 

 Wall street banks, and keep their surplus funds 

 here. Bills ot exchange drawn in loieign ports 

 on any place upon our Atlantic coast, are now 

 very extensively made payable m New Y'ork. 

 So, taking it all in all, ihose who look lor the 

 dishonor of New York, will find the result they 

 anticipate receding farther and larther from their 

 grasp. 



DIVIDING CAPITAL. 



From the Pliiladelphia-Ijedger. 



Certainly it was never contemplated by our 

 legislature that any bank chartered by the stale 

 siiuuld impair its own capiial stock by dividing 

 It among its stockholders — leaving to tlie commu- 

 nity only lis name as a guaianty lor the ealety of 

 its issues. Y"et, we believe, and record ihe pre- 

 diction lor a luture day, ttiat such will be the 

 efiect of eiilier of the bills now belore the legis- 

 lature lor again legalizing the suspension. In 

 addition to its other abominations, it authorizes 

 suspended banks to divide their profits. 



Does not every member of that body know that 

 it is the easiest matter in the world to make pro- 

 Jits in figures, wheve the enjoyment of an irre- 

 sponsibility may hide from view'a broad disparity 

 bet ween ^igwres and fads, where it may subsii- 

 lute a na7ne lor a thing, may cause the mpre title 

 of value to take the place of value or its repre- 

 sentative 1 



Is an instance in point needed as an illustra- 

 tion of this indirect way of dividing capital and 

 calling it prcftsl Thuusaiuis are at hand. A 

 prominent one may be luund in the case of the 

 Uniied Stales Bank. Every dividend which has 

 been made by that institution since it entered into 

 the mercaniile business, if not lor a long time 

 previous, has tieen made li'om her capital, and not 

 Iroin the profits of her business over anil above 

 that capital. Yet we can readily conceive, how- 

 ever unpleasatii to the parlies the implied aller- 

 native may be, that the diiection of the institu- 

 tion may nave been guiltless of knowingly divid- 

 ing its capital slock; lor by the fiction ol paper 

 by which names can be substiiuied (or things, 

 mulli|)lied at pleasure and reiained ^hile things 

 vanish, figures vyould very pot^sibly at any lime 

 have shown the dividends to have been made 

 out of its profits. 



If we mistake not. it is not over a year at^o 

 that the bank published a statement calculat- 

 ed to show I hat it had a surplus on hand over 

 and above its capital of some one or two millions 

 of profits. Ii its present condition be such as it 

 IS eptiniatpd by the public and by some members 

 of the leirislalure loo, hs we ju'lge by the bill be- 

 fore iliat tioily lor a reduction of its capital, can 

 any one sujipose the institution has really lost 

 >uch an amount of money in so short a space of 

 time ? Has not its real Iops been constantly going 

 on lor at least a period ol several years, and was 

 it not arceleraied bv the very means taken lo 

 avoid realizinij it ^ Did not the yery increase of 

 lis own liabilities hold up the price of its own 

 assets 7 



ON THE DESTRUCTION OF THE RED SPIDER. 



From ihe Magazine of Horticulture. 

 A certain remedy for the vile insect, known by 

 the name of red spider, no matter whether it has 

 made its appearance on the grape vine, peach 

 tree, or any other tree or plant that is grown under 

 glass: sulphur, will destroy them, used in the 

 IbllowiniT manner : — Alier syringing the lieesoi* 

 plants with water, as thoroughly as it is pot^sible 

 so to do, in the evening, when the sun is leaving 

 the glassj fill half a dozen saucer^ or more, (ac- 



