The Sun.
London, England, 1836-09-22 00:00:00

UNITED STATES.

We have received the New York papers to the 25th ult.,
by the Virginian, which arrived at Liverpool on Monday.
CURRENCY.-By the report of the Secretary of the
Treasury, made to Congress at the last session, the whole
banking capital of the United States, on the Ist of January,
183.5 (not including the Bank of the United States), was
196,250,000 dollars.
The whole circulation of those Banks (including the
Bank of the United States) was 103,692,000 dollars.
The whole number of banks was .557.

Since that period, in anticipation of the charter of the
United States Bank not being renewed, many banks in dif-
ferent States have been chartered, with large capitals, to
supply the place of branches which it was said would be
withdrawn from them. Not only have those banks gone
into operation and issued large amounts of paper, but a
number of other banks, with large capitals, chartered in
1834, have added greatly to the circulation.
We believe that few of our readers will be prepared to
credit the great increase of banking capital during the
short period since January, 1835, in this country. It is 95
millions of dollars! Almost 50 per cent. in 18 months !
Nor has the increased issues of paper, in our opinion, fallen
short of an equal proportion.
We have seen a list of 22 banks only, some of which
have been chartered and gone into operation since January,
1835, and the remainder of which were previoosly in ope-
ration, which have added to the circulation of paper, since
the Ist of January, 1835, the sum of 19,000,000 dollars.
Subsequent to the Ist of January, 1835, the Bank of
the United States increased its paper circulation, beyond
what it was at that time, 8,000,000 dollars ; and although
fully that or a greater sum has since been withdrawn from
circulation by that institution, yet owing to the continual
expansion by other banks, that withdrawal has not been felt.
We are fully satisfied that we speak within bounds when
we say that there has been added to the paper part of the
circulating medium of the country fifty millions of dollars
since January, 1835, or fifty per cent.
But how is it with the rage of speculation? Has that
not been increased in the ratio, which is the inevitable con-
sequence of paper expansions ? In relation to this inquiry,
others can judge from the newspaper reports of the rise
and speculations in property, which have been going on in
almost every city, village, town, and hamlet in the United
States, for a year past. We confine ourselves to facts
within our reach, those relating to the sales of the public
lands. These statements are official, and we commence
with the account of sales :

Dollars.
In 1832, which were
In 1833 4,972,274
In 1834 6,099,981
In 1835 15,810,795
And in the two first quarters of 1836, we are
told, though not ascertained exactly, ab0ut...13,500,000
In addition to the sales of the public lands as above, there
was, we understand, sold on account of the Chickasaws, in
1835, to be invested, 700,000 dollars, and in 1836, of the
Chickasaw reservations for their own account, 2,500,000
dollars, making the sales altogether double as much in pro-
portion in 1836 as in 1835 ; nearly six times as much as in
1834 ; nearly seven times as in 1833 ; and about 11 times
as much as in 1832.

- It is an important inquiry for every individual in the
community to make, and to be satisfied of, whether this
state of things can last.
We are well aware that all those who are interested in
speculations, and whose interest it is to have them continue,
will answer in the affirmative. We reply in the negative.
They cannot last. A revulsion is near at hand, if it has
not already commenced. _ .

We have already shown the expansions in this country
in 1817 and 1818, as well as in England ; and also what
followed in 1819, 1820, 1821, and 1822. Now we will
show that speculations in the public lands raged to a similar
extent then as of late, and now
Dollars.
The sales in 1816 were 3,567,273
1817 5,022,409
1818
1819 17,681,794

And in the two first quarters of 1820
It should be observed, that the price then was 2 dollars
per acre, and now 125 dollars. Then the Government
gave a credit to the purchasers ; now the purchasers obtain
the credit in the banks.

After the Ist of July, 1820, the price was reduced or
cash payments required. What was the consequence ?
Why, the sales in the last half half year of 1820 amounted
to only 424,962 dollars.
Dollars.
In 1821 1,169,224
1822 1,023,267
1823
1824 953,799
And it was not until 1830 that the sales amounted to more
than two millions of dollars in one year.

There is another thin.- which will shortly operate upon
the monetary system of thisi country ; and that is the ex-
cessive importations from abroad, which are now pouring
into this country from almost every quarter, in overflow-
ing cargoes.
Dollars.
In 1835 our imports amounted to 149,895,742
And our exports to 121,693,577

Excess of imports over exports 28,202,165
This excess was probably paid in every part by earnings
of ships in freights paid abroad, partly by sale of stocks
abroad, and a part was probably unpaid at the close of the
year.
This year, from present appearances, our imports will be
fully or more than 200,000,000 dollars.
How is this excess of importations to be paid this year?
Will our cotton produce as much this year as it did the
last ? It is to be feared that it will not. By the last ac-
counts the price was on the decline. Can we dispose of
stocks abroad to make up this deficiency ? That is nearly
impossible. It is well understood that the forced loan made
by Biddle's bank, and the high rate of interest paid, has
had the effect to lessen confidence in all American secu-
rities abroad. The amount of specie which has been im-
ported into this country from England, many people think,
will have the effect to diminish the foundation of their
paper circulation in England, and consequently to diminish
it to such an extent as, ere long, seriously to effect the prices
of every commodity.—Washington Globe.

MEXICO AND TEXAS.
A PROCLAMATION OF BLOCKADE

Of the Port of Matamoros, &e., by the President of the

Republic of Texas.

To all whom these presents shall come,
Know ye, that I, David G. Burnet, President of the
Republic of Texas, by and with the advice and consent
of the Cabinet, do order, decree, and proclaim the Port of
Matamoros, in the State of Tamaulipas, and Republic of
Mexico ; comprising the mouth of the Rio Grande, and the
Brassos Santiago ; and also the inlets, estuaries, and pas-
sages east of it, that now are, or hereafter may be, in pos-
session of Mexico, are, from and after the date of this pro-
clamation, in a state of actual and absolute blockade by the
armed vessels of this nation.

And for the purposes of carrying this proclamation into
complete effect, an armed naval force now is, and will con-
tinue to be kept, at or near the said port, inlets, and passes,
entirely sufficient to enforce this decree.
For any breach, or effort at breach, of this blockade, the
offending vessel and cargo will be liable to confiscation, and
the officers and mariners of such vessel will be subject to all
the penalties attached to a blockade.
This decree shall take effect as to vessels sailing from
New Orleans within three days after its publication in that
city, and within five days as to vessels from any other neu-
tral port within the Gulf of Mexico ; twenty days as to any
port of the United States north of the Gulf of Mexico ;
and in forty-five days as to vessels sailing from any of the
ports of Europe.
Done at Velasco, on the 21st day of July, A.D., 1836, and
the First of the Independence of the Republic of Texas.
DAVID G. BURNET.

AlExico AND TEXAS.—By an arrival at New Orleans
from Matamoros, papers of that city to the 29th of July
have been received. A letter from the American Consul
at Matamoros announces that the Mexican Government
have opened their ports to all kinds of provisions, during
the war with Texas, paying an ad valorem duty of forty
per cent.