presentation made by several commercial houses as to the inconvenience that results from the decree of the 17th May, of this year, which orders the payment of all custom duties and of those under income receipts to be made in specie, and not to receive in small money more than the fractions that refer to the duties; and desiring to give trade an example of the spirit that animates us in wishing to concede to it every thing that is compatible with the interests of the treasury: We have decreed, and we decree the following: ARTICLE 1 The payment of twenty-five per cent, as duties on importation, will be made at the maritime and frontier custom-houses in fuerte dollars. The balance of the same duties, and the others that are imposed, may be made in small money. ART. 2. The payment of duties that are collected at the principal office of income at interior points, as well as that of orders of maritime custom-houses on this capital will be made to the extent of exactly one-half, when less, in fuerte money, excepting the sums, dues, that do not amount to five dollars, which will be received in change for the total amount. ART. 3. The decree of the 17th of May of this year is abrogated. My Secretary of State and of the Treasury is charged with the execution of the present decree, which will be deposited in the archives of the empire and published in the official gazette, in order that it may be known to all it may con cern. Given at Irapuato, on the third day of September, 1864. By order of his majesty, MAXIMILIAN. J. VELASQUEZ de Leon, Minister of State. OFFICIAL RETURN OF INTERNAL REVENUE FOR THE YEAR ENDING JULY 31, 1864. The official Gazette, in i's number of the 17th September, publishes the following statement of the receipts from all sources of internal revenue, and the expenses of collection : The expenses of collection amount in the same period to $112,505.14, so that there remains this sum from the total revenues as the net amount, $1,646,517.33. To the total revenue of which the Mexican government disposes, only deducting the expenses of management, there is to be added that of the municipal branches, collected at the head custom-house and at lower receiving offices. In this way there will be obtained the following general result of revenue: Total revenue Municipal commune and tax on heads of cattle in Mexico, and on vehicles at the city entrance. Receivers' offices...... Administration... Total collections... $1,759,022 47 462,891 80 3,297 38 1,817 18 $2,226,528 78 MERCANTILE MISCELLANIES. A NEW FEATURE IN LIFE INSURANCE CO. THE inventive genius of Europe and America has been taxed to the utmost in reducing the system of life insurance to its present state. One after another new features have been added until now we scarcely expect to see any improvement suggested. We were somewhat surprised, therefore, to find that the Globe Mutual Life Insurance Company, of this city, was doing a kind of business never before attemped. It is well known that persons frequently object to taking out a life policy, because the previous paid premiums are forfeited and the policy also, in case of any failure to pay a premium. Thus the insurer may loose several years of premiums and his policy by his inability to make a subsequent payment. This objection is removed by the plan pursued by the Globe Company; since each premium paid by a party insuring in that company (after three annual payments) is received as a deposit, which, whether the next premium be paid or not, remains a valid investment for the heirs of the insurer, to be paid to them, without interest, at his death. This feature, when taken in connection with “The Ten Year Non-Forfeiture Plan," which is also adopted by this company, accounts for the wonderful success the Globe Company has met with since its organization. Certainly the inducements to insure with such an institution are very great. CARRINGTON & CO.'S GENERAL PURCHASING AGENCY. AMONG the novelties of the present day is the general purchasing agency at 40 Broadway. An association of individuals has for some time been engaged in the business of making purchases for non-residents, but it was only in March last that this joint stock company was formed. The object is to place within the reach of all non-residents the ability to obtain from New York any article wanted without one's making a special visit for the purpose. No matter what the need may be-from the most trifling article to the most important-" whether for the dress of the lady, the library of the scholar, the lands of the farmer, the workshop of the artizan, the laboratory of the chemist, or the office of the physician," by the combined aid of the Expresses and the Purchasing Agency, it can be supplied promptly, and, as the agency claims, more cheaply than if the consumer were here to purchase for himself. They charge a commission of five per cent for making the purchases. Such an association is certainly a great convenience and we doubt not will be extensively patronized. PETROLEUM STOCK COMPANIES. The tide of speculation in petroleum stocks which has been of late daily ruling, is now taking a better shape, by the formation of good companies with responsible names. We see, for instance, among the officers and trustees of the North American Petroleum Company of New York (52 Wall street), men who would give character and standing to any undertaking. The property on which this company is organized consists of interests in the Kinter, Ocean, Hammond, Painter and Lloyd wells, on Oil creek, and the celebrated Reed well on Cherry Run, and a fee simple of thirty-five acres adjoining the Reed well on Cherry Run. The producing interests thus owned are said to yield, on the average, 175 barrels of oil a day, which the company expects will be shortly increased by additional wells now sinking on the property on Cherry Run. Should these interests yield a half that is expected, the stock could not fail to be very remunerative. THE RUSSIAN MONITORS AT SEA. ONE of the Russian monitors has renently had a trial trip and the results are thus described by the Messenger de Cronstadt: "The monitor Vestchoune, accompanied by the steam-vessel Vladimir, and hoisting the flag of Rear-Admiral LIKHATCHEW, chief of the ironclad squadron, left Cronstadt August 3d, and, after touching at one or two ports, entered Reval on the 5th, which place she left on the 8th, at 8 30 A. M., and at 4 P. M. reached Helsingfors. In this trip she had to contend against a rough sea, which washed over the deck, and the waves even at times reached the top of the turret. Notwithstanding this the monitor behaved admirably, and did not lesson her speed for one moment. Her engines worked well, as did also the isolating apparatus on which the compass rests, in order to protect the magnetic needle from the action of the iron and to diminish its declination. This apparatus consists of a long copper tube, in the interior of which the compass is fixed with the mariner's card reversed, but reflected in a mirror. On the 11th the Vestchoune, still sailing in company with the Vladimir, again set sail, and on the 12th, after a short stoppage at Glasholm, they continued their cruise in the vicinity of that place. However, the wind having freshened, a heavy sea arose, and the waves were again thrown on the ironclad's decks. She rolled in a peculiar manner, quite different to that of other vessels. Her oscillations described angles of 74 and even 8 degrees. Notwithstanding this she steamed ahead quite well, and her engines continued to work in the most satisfactory manner. The vessels entered Routchesalm to await the subsidence of the gale, and on the 14th steam was again got up and they crossed the reef, meeting a heavy sea, which the monitor encountered as well as possible, Anchor was cast at Transund, whence the route was continued to Croustadt. which was reached on the 17th at 6 in the morning." THE BOOK TRADE. London Printing and Publishing Company. HENRY A. BROWN, Manager. 487 Broadway. THE London Printing Company, for which Mr. Brown, of 487 Broadway, is the sole American Agent, are offering a large number of valuable Loudon publications for sale. This list contains volumes on a great variety of subjects, and includes many illustrated books of great beauty, such as the complete works of Hogarth, Lodge's Portraits, Finden's Royal Gallery of British Art, France Illustrated and described. The Scenery of Hindostan, Finden's Modern Art Gallery, Finden's Beauties of Moore, The Flowers of Loveliness, Constantinople Illustrated, London Illustrated and Describee, Pictorial Gallery of the Arts, &c., &c. All the books in the list are more or less illustrated, and those whose especial value is in their matter, are still rendered additionally valuable by the plates. The histories of the United States, of England, of Scotland, of the British Colonies, of the Indian Empire, of Australia, of Ireland, of France, of Russia, of the Chinese Empire; the editions of Shakspeare, the Voyages of Captain Cook, Orr's Circle of the Sciences, the various works on Natural History, are all the more attractive from the richness with which they are illustrated. Not the least notable feature of the catalogue is the lowness of the price at which these splendid works are offered to the public. Since the London Publishing Company first established their agency in this couutry, in 1848, the price of their publications has not altered. The result is that the present purchasers of their publications get them at about half the sum they are compelled to pay for English or American books of a similar style and character, and which they would be compelled to pay in case they imported the books directly from London, or purchased elsewhere. The works for sale by Mr. BROWN are therefore the cheapest books now in the market. ART. CONTENTS OF NOVEMBER NUMBER. 2. Brazil. Its Government, Population. Resources, Debt, Etc..... 3. Commerci 1 Law.-No. 15. The statute of Limitations.... 4. Confederation of British American Provinces.... 5. United States Debt 6. Commercial Chronicle and Review 7. Journal of Bank ng, Currency, and Finance. 8. The Colonie of Great Britala-Their Area, Population, Commerce, Debt, &c... 9. New Post Office Money Order system.. 10. Statis ics of Trade and Commerce. Trade of Cincinnati 1. The Sandwich Islands and their Sugar Crop. BY HENRY B. AUCHINCLOSS, Esq.. PAGE 337 351 361 366 $68 370 377 856 394 396 396 402 403 The Trade of Great Britain-Her Dependence on Foreign Nations...... THE MERCHANTS' MAGAZINE AND COMMERCIAL REVIEW. DECEMBER, 1864. THE FRANCO-ITALIAN CONVENTION. T. M. J. THE uncertainty, which has of late years hung over the fate of the Italian peninsular, seems now about to disappear; and that nation, uniting most of its scattered fragments under the rule of one sovereign, takes its stand among the great powers of the world. To be sure every thing is not as we would have wished. Regrets may indeed arise when we consider that the Austrians yet hold Venetia, and that, under the provisions of the Franco-Italian Convention, the Pope is still to reign at Rome. Yet to the commercial world the now independent existance of Italy is a fact of great importance, and we will rejoice in what has been done, hoping that the future will accomplish the rest. The treaty agreed upon between France and Italy, concerning the settlement of the Papal States, and the withdrawal of the French from Rome, has not yet been published; but enough has been made known through the semi-official organs to satisfy our curiosity on many important points. It seems that the Emperor NAPOLEON has consented to yield to the wish of the Italians, and to the pressure brought to bear on him in their favor, so far as to consent to a removal of the Roman French army. He seems now to acknowledge the strength of the new nation, and the increasing development of its popular support, and to acquiesce, therefore, in the withdrawal of his soldiers, provided Italy will at the same time agree to respect the independent temporal power of the Pope. He does not, it is true, perhaps, as a Catholic sovereign, he cannot-consent openly to abandon the Holy Father and leave his temporal dominions to be swallowed up by the augmented power of the Italian king; but he can and has refused any longer to uphold "the obstinate aggressiveness of the Papal policy." In his letter to M. THOUVENAL in May, 1862, he expressed his conviction that the Pope's temporal jurisdiction should be maintained, and that Italy would certainly act wisely, were she to acknowledge it as a political ne |