ART. CONTENTS OF NO. II., VOL. XIX. ARTICLES. PAGE 1. THE HISTORY AND PRINCIPLES OF ANCIENT COMMERCE.-LECTURE I-THE 131 11. THE SALMON FISHERY. By DAVID M. BALFOUR, Esq., Merchant, of Massachusetts...... 145 IL COMMERCIAL CITIES OF EUROPE.-No. VI-NANTES. Situation-Political History -Commercial History-Navigation of the Port-Soil-Shipping-Imports and Exports-Manufactures-Ship-building-Forges and Machine Factories-Lead Manufactures-Sugar Refineries-Preserved and Salted Provisions-Flour, Meal, Biscuits, etc.-Oil, Beer, Vinegar, Brandy, Liquors, etc.-Chemical Products-Glass and Pottery-Tanneries-Cotton Manufactures— Manufactures of Wool, Hemp, and Flax-Hats-Felt for Lining Ships-Other Manufactures -Bank-Insurance. ........ IV. STATISTICS AND HISTORY OF THE BRITISH COTTON TRADE AND OF THE MANUFACTURE OF COTTON GOODS.-CHAPTER III.-Cambrics and Muslins exported from Great Britain from 1831 to 1846-Yarn, Thread. Calicoes, Cambrics, Dimities, Lawns, Counterpanes, Ginghams, Velveteens, Nankeens, Quiltings, Hosiery, Shawls, Lace, Tapes, Ticks, etc., exported from Great Britain from 1816 to 1816-Chronology of Cotton Goods.................... V. SAVINGS FUNDS AMONG CHARITABLE ASSOCIATIONS. By J. F. ENTZ, Esq., Accountant, of New York.... 161 167 173 VI. COMMERCIAL CODE OF SPAIN.-No. VI.-SHIPWRECKS-LIMITATIONS OF ACTIONS ON 178 COMMERCIAL CHRONICLE AND REVIEW. Commercial affairs at home and abroad--Foreign bills in New York-Prices of coins in Paris and London--Exchanges-Finances of the French Government-Domestic exports of the United States -Loans of the United States and of the State of New York--Imports and exports of New York in 1848-Rates of exchange-Exports from the United States to Great Britain--Cotton market--Free and Chartered Bank Circulation of New York from 1837 to 1848-New England and Boston money markets-Banks of the New England States--Boston banks, etc., etc.......... 183-195 VOL. XIX.-NO. II. 9 Baltimore export of Domestic Produce shipped to each Foreign Country in 1847.. PAGE 196-194 Philadelphia export of Breadstuffs in each year from 1790 to 1840............... Statistics of the French Fisheries from 1842 to 1846......... Imports into New York in each of the first six months of the years 1846 to 1848 ... . ... .. Oils and Whalebone imported into the United States in the six months ending June 30, 1848.. Comparative export from Liverpool to New York, Boston, Philadelphia, and Southern Ports, of Lin- en, Woollen, and Stuff-goods, in the years 1845 to 1847..... Treaty of Peace, Amity, Navigation, and Commerce, between the United States and the Republic of Foreign Postal Regulations of the United States......... Blockade of the Gulf of Maracaibo... RAILROAD, CANAL, AND STEAMBOAT STATISTICS. Philadelphia and Reading Railroad, rates of Fare, Distances, and Business in 1847....... Progress of Railroads on the Continent........ Mansfield and Sandusky Railroad, rates of Fare, Distances, and Business in 1846-47.. Birmingham, Missouri, Iron Works.-Carbonic Acid as a Motive Power... Kentucky Iron Ores and Furnaces.-On the Manufacture of Saltpetre.. Method of Welding Iron and Steel........... Iron Works of Wheeling, Virginia.-Manufacture of Plate-Glass.. MERCANTILE MISCELLANIES. HUNT'S MERCHANTS' MAGAZINE AND COMMERCIAL REVIEW. AUGUST, 1848. Art. I.-THE HISTORY AND PRINCIPLES OF ANCIENT COMMERCE. LECTURE I. THE COMMERCE OF ANCIENT EGYPT.* ORIGIN OF COMMERCE-HISTORY OF EGYPT PRODUCTIONS-CORN-LINEN-HORSES-PAPER-CONSUMPTION-FOOD-DRESS-HOUSES-EMBALMING-SITUATION-TRADE WITH THE PHŒNICIANS~JUDEA-ARABIA-INDIA-MEANS OF COMMUNICATION-ROADS-CANALS-SHIPS-ARTS AND SCIENCESGEOMETRY-COMPUTATION-MONEY-COMMERCIAL LAWS-TENURE OF LAND-CASTES-FEMALE TRADERS-IMPRISONMENT FOR DEBT-TRIAL AFTER DEATH-THE COMMERCIAL CHARACTER OF THE EGYPTIANS. PROVIDENCE has appointed that the different countries of the world should have different climates; should have a variety of soils; should be capable of producing different kinds of vegetable and animal substances, and should contain beneath their surface metals and minerals of various kinds. Had the world been differently constituted, did each country possess the same length of day and night, the same degree of heat and cold, the same kind of soil, the same appearances on its surface, and yield, in every respect, the same kind of productions, there would be no commerce between the different portions of the globe. Each country would possess in itself every kind of commodity that existed in the world. It could not receive anything which it did not previously enjoy, nor could it give in ex • We have great pleasure in laying before our readers the first of a series of Lectures on the "History and Principles of Ancient Commerce," by JAMES WILLIAM GILBART, F.R. S., General Manager of the London and Westminster Bank, a banking institution second only in importance to the Bank of England. These lectures were delivered in Waterford in the beginning of the year 1833. At that time Mr. Gilbart held the office of Manager of the Waterford Branch of the Provincial Bank of Ireland. A biographical sketch of the life and writings of Mr. G., accompanied with an accurate portrait, will be found in the Merchants' Magazine for July, 1848. A small edition of these lectures was printed in England, in 1847, for private circulation among the author's friends; and it is with his permission that their publication is now commenced in the Merchants' Magazine.-Editor. change anything but what the other party had already in possession. But in consequence of the various climates and peculiarities of different countries, and the consequent variety in the nature of their productions, mankind have the strongest inducement to promote intercourse with each other. By means of this intercourse, every country can obtain the productions of all the other countries in the world, while the superfluous productions of each country acquire a value from their capability of purchasing the productions of other countries. Hence the happiness of all is increased. One country may have a superabundant quantity of the materials for building; another country may have a superabundant quantity of the materials for clothing. Now, if no communication takes place between these two countries, the inhabitants of one country may be well lodged, but badly clothed; and the inhabitants of the other country may be well clothed, but badly lodged. But let these two countries exchange their superfluous productions with each other, and the people of both countries will be well lodged and well clothed. Almost every nation either has naturally, or produces by its own labor, some production in greater quantity than is ne. cessary for its own consumption. This superabundant quantity, when kept at home, possesses no value. Of what use would it be to Norway to keep possession of all her forests; of Sweden, to retain all the metals in her mines; or of America, to keep to herself her cotton; or of India, her silk. These commodities, the superabundance of which would be useless at home, are given to other countries, to whom they are valuable. And, by all countries acting upon the same principle, the convenience and happiness of all nations are greatly promoted. Commerce has also a claim on our consideration, from its being friendly to civilization. Commerce gives a rapid circulation to the valuable discoveries of science and of art. Whatever useful discoveries are made in any science; whatever new machines are invented; whatever new remedies for maladies are found out; they are quickly, by means of an extended commercial intercourse, circulated all over the world. It is chiefly by means of commerce that barbarous nations have become civilized. The most commercial nations have always been civilized nations. In the pursuit of commercial objects they have sought out new nations with whom to trade. They have discovered nations in a state of comparative barbarism. and by their commercial intercourse civilization has been extended. Commerce has laid the foundation of the most powerful empires. They have flourished as their commerce has flourished, and when their com merce has declined they have fallen into obscurity. The mighty influence of commerce to promote the wealth of nations and of individuals, has, in every age, induced some men of wisdom and talent to endeavor to unfold the principles on which it is founded; to trace the causes of its prosperity, and notice the occasions of its decline. In our own times, books published upon the subject have abundantly increased. Commerce is now not merely followed as a profession, it is studied as a science; and, even at our universities, professors are appointed, who deliver lectures upon the principles of commerce. The subject of the present lecture is the History of Commerce, as it existed among the ancient Egyptians. Soon after the Deluge, which took place in the year 1656 from the creation of the world, the different branches of the family of Noah separa ted, and took possession of various parts of the earth, as their inheritance. The family of Shem went to the eastern part of Asia, while Noah himself is supposed to have gone still farther east, and to have founded the kingdom of China. The family of Ham settled in Asia Minor, and extended to Africa, while the family of Japhet took possession of Europe. Egypt was founded by Mizraim, the son of Ham, soon after Nimrod had founded the kingdom of Babylon, about 2200 years before the Christian era. In the year 538, (B. C.) the Babylonian monarchy was subverted by Cyrus the Great, and thirteen years afterwards his son conquered Egypt. Egypt had thus continued an independent kingdom for nearly seventeen hundred years. Notwithstanding several revolts, the Egyptians continued to be subject to the Persians, until that monarchy was overturned by Alexander the Great. On the death of Alexander, which took place in the year 324 before the Christian era, his kingdom was divided, and Ptolemy Lagus took possession of Egypt. It now again became an independent kingdom. But the monarch and the principal men in the country were Greeks, and his soldiers were Greeks. Hence this monarchy is distinguished from the former one, by being called the GrecoEgyptian Monarchy. This monarchy continued for about 300 years, when it was overturned by the Romans, and Egypt became a province of the Roman Empire. It is not necessary for my present purpose, that I should trace the history of Egypt any farther. You perceive, then, that for 1700 years, Egypt was an independent monarchy. Then for 200 years it was under the yoke of the Persians. Then for 300 years it was an independent monarchy, with a Greek monarch. And this brings down the history of Egypt to the commencement of the Christian Era, about which time it was conquered by the Romans. My present lecture will refer to the first period of 1700 years, when Egypt was an independent monarchy. Scanty, indeed, are the materials we possess for a history of commerce during that period. We have not a single book or manuscript written by an Egyptian author. With the exception of the intimations that occur in the sacred volume, all our knowledge of Egypt, during that period, is derived from Greek authors, who had visited Egypt for the purpose of acquiring knowledge. And even those writers, like other historians, take very little notice of the affairs of commerce. Had all our writers of history traced the origin of distinct branches of trade, as faithfully as they have traced the rise of the different wars-had they described the operations of traffic with as much minute. ness as they have described battles and sieges; and had they been as anxious to transmit to posterity the names of those who have enriched their country by the extension of its commerce, as the names of those who have distinguished themselves by the death of millions of their fellow creatures, the study of history would be far more instructive, and certainly not less entertaining than it is at present. I have already observed that commerce is now not merely followed as a profession, but is studied as a science. In lecturing upon the history of Egyptian commerce, I shall endeavor to combine the facts of history with the principles of the science, so as to render the one illustrative of the other. I observe, then,— First. That the commerce of a country depends upon its productions. |