The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-03-31
Quarterly List Of New Publications..

= RATES OF EXCHANGE WITH FOREIGN COUNTRIES.-
We extract the following from the New York Price
Current, it may be 10 mercantile readers
The manner in which the rates Of exchange on
foreign countries are generally quoted in the news
papers and prices current although understood by
merchants is not Ineligible to all classes Of read
ers 1t will be perceived that the American mode of
quotation is not systematic as regards the rates OF
exchange upon all foreign countries there being
three different ways in which they are expressed
Thus we quote exchange London at so much
above, or so much below par, as the case may be.
On France we quote the number of francs and
confines, or hundredh part Of a franc, which can
be purchased for dollar. On Holland, we quote
the number of that must be given for rix dol
lar. II is remarkable that in neither OF those quota
tions is any definite idea conveyed Of the relation
which the current exchange bears to the par so that
indicators of the balance of trade or of the state
OF the currency they can only be useful in connec-
ton with other information, which is not readily
cesSble TO the great mass Of our readers 1t is our
present design to furnish this information; and in
doing this we will premise that the par of exchange
between foreign countries is that sum in the cur
rency Of each which is equivalent to given weight
of pure gold silver, so that the par exists where
person with ounce of gold or one ounce of silver
can purchase bill of exchange foreign country
which will there command one ounce of gold or one
ounce of silver Of the same purity.
LoNDoN-Prior 1.-The passage of the gold bill on
the 2Sh June, lS3f-to take effect from the 3ls Of
July followng-he real par of exchange on England
was, as near may be estimated, 6 per cent. nomi-
nal premium arising from the fact that the value OF
the Silver dollar which by our laws for the calcula
ton ofduties al the custom house, was fixed al As cd.
sterling and gave rise to the old mode OF calculation,
was mol more than about As 3D. being at the true par
lOd per ounce. II was wi h reference TO that true
par, that by the act of Congress Of July H. 1882, the
value of the pound sterling in calculation for duties,
was fixed at "a so, and not A as before, being an
increase of about per cent. By the gold bill the
true par became about and 40 per cent, nominal
premium This is proved as follows. The British
sovereign or pound sterling contains lis grains, and
81 ~ ,..-,Il Ayx,o
rcan halt eagle of the present coinage, contains ll6
grains of pure gold, and is the equivalent of five
silver dollars So that, il ll6 grains are equal TO 50,
lib Is ,2l4 grains are equal tod 81 7l2O dollars,
which is as near as may be ITO per cenl. above
that computed par. ..5 .'-.
FRANcE.-The currency of France is silver BY
the report of the director OF our mint made in JAM
1929 ii appears that the current five franc piece of
France is equivalent to "a cents two mills, which
would give five francs and 36 4-l0 confines as the
par value of the dollar.
MASSACHUSETTS BASKs-In 1903, the date Of the
oldest return found in the Secrearys office, there we're
but two banks in Boston and FIVE in other parts Of the
state with amount Of capital Of S2225,262 The
next year one bank added in Boston, five else
where, making in all Is, with capital OF about hye
millions. In 1905 three more country banks were
created with less than half million capital and from
that time I'LL 1918 the whole number Of banks IN the
commonwealth than l6. In 1914 Boston
had banks and other towns Is, with aggregate Of
capital Of eleven millions. The increase from this time
for several years was one year In 1928 there
Ia in Boston and 81 elsewhere in 1881, 20 in b and
SO in other places in all 70 in 1882. SO in the state
the very next year in 1888 there found 25 banks in
this city and n elsewhere in all 1902. making an in
crease in single year Of 10. IN 1887 there were "a
in the city and 95 without; in all 1873
In 1903, the amount OF specie in the banks was
81 079 92S bills in circulation ,566 lS0 In 1897,
the specie in the 1919 banks amounted TO but SLY 1884,
while the circulation was swollen to l0,273,lls.
TRAVELLING Posr OFFICE In the mail train Of
cars by the Philadelphia Wilmington and Baltimore
Rail Road, there is handsome car, which Is divided
into two commodions apartments, one oil which IS
complete post Office furnished with desk, pigeon boes,
cases letter box and every thing ncediu for the busi-
ness OF post Office This apartment is occupied by
clerk or agent of the Post Office Deparment-who re-
ccves the letters which put into the box at The differ
ent towns the route stamps them charges them ar
ranges them in PARCELS and delivers them at the places
of their destination In this mode, the way mails
accommodated and distributed with convenience and
despatch unknown the history Of letters and post
Offices The apartment in the OF the travelling
post office contains the great mail Our citizens hind
good deal Of convenience IN the arrangement and Ire
queny avail themselves of this locomotive post Office,
when their letters are late COR the hours OF the regu
lar establishment in Shpley street Del journal
ar We thought every one familiar with the
meaning of Bunkum' the true version, Gas IL is
usually erroneouSlv Spelt) But we'll explain for
our friends Of the Baltimore Transcript A grave
member Of the lower House of Congress from the
venerable State OF North Carolina and from dis
trct which included the county of Buncombc, Gin
which county he resided } whose style Of speaking
produced very common effect Of driving the mem
bers from the Hall, and all that, was one day adj
dressing the House, when, as usual, the coughing
and sneezing commenced, and the members began
leaving He paused awhile and assured the House
that there need be uneasness on their part, and
that for himself il mattered not how many ei,, for
he was not speaking TO The House, but 10 BnH6nm
II is now understood 10 mean the constituent BODY, In
Congressional narlance -Rieh Com