fairs of the canal in connection with its debt, and report upon the expediency of the enterprise. In case of a favorable report, the amount of 12 per cent. or $400,000 is to be disbursed, and if at the next meeting of the Legislature a small tax is imposed towards the discharge of the improvement debt of the State, the remaining sum necessary to the full completion of the canal will be forthcoming. In many points of view this arrangement is highly advantageous. The delinquent States of the Union were, for the most part, cut short in the midst of enterprises, many of them rashly commenced, but undertaken in full confidence that the money necessary for the completion could be obtained. In nearly every instance where large debts had been contracted, new loans were necessary to meet the interest, because the wise principle of contracting no debt without simultaneously providing by taxation for its discharge, had been evaded during the speculating mania, in order that there might be no obstacle in the way of borrowing. When, therefore, through general distress, new loans could not be obtained without difficulty, delinquency became inevitable. This delinquency in Mississippi and Illinois soon degenerated into repudiation and defiance of the creditors. Hence, when money again became plenty, the apparent want of will to pay, destroyed all disposition to lend, notwithstanding that plenty. This apparent indisposition of the people here to pay, was, from the effect of its influence upon the debt oppressed people of Europe, of a far more serious nature than the mere loss of the few millions of dollars due. All those monied men of London and the Continent, interested in American stocks, represent an aristocracy and a class of capitalists whose existence is bound up in the maintenance of the faith of governments at all hazards. The proximity of the republican institutions of the United States through the medium of steam navigation, is already exercising a powerful influence upon public opinion in Europe, and the example of a great people throwing off with impunity the burden of a public debt on any plausible_pretence, is, in the present state of England, fraught with the greatest consequences, and it is of importance to all those interested in the preservation of the present state

of things, to apply a remedy to existing evils here. When, therefore, the commissioners of Illinois offered their terms of compromise, the door was opened by which all the States following her example could restore their honor and return to the condition of a tax and debt paying people. A part of the money wanted, was, therefore, advanced, in order to put the canal under contract, and the payment of the remainder made conditional upon the imposition of a tax, which with a completed canal the people will be amply able to pay That this tax will be imposed, there is scarcely room to doubt, because the people of Illinois are an intelligent and high spirited people, and well able to estimate the vast importance of the canal to Illinois, and the pecuniary advantages its completion will afford to every individual in the State. When, therefore, they see that canal in process of construction, and its final completion dependant only upon an insignificant tax, no one can doubt but that that tax will cheerfully be submitted to. In that case Illinois, one of the first to fail, will be the first to recover her position and prove to all others that their resources are within themselves, and not in the paper schemes of prating politicians.

There is over the face of the whole Union an apparent upward tendency in both prices and business. The advance in agricultural products last spring and summer gave some stimulus to business by furnishing means of purchasing some portion of those supplies of which the people had long been in want. The result has been an improvement in all the smaller branches of trades and business. We believe, as a general thing, that all the mechanical employments have experienced an improvement of about 30 per cent. in their business over that of last year. The vigor of the trade which sprung up is apparent in the fact, that notwithstanding the present tariff, a fair amount of imports was made during the third quarter of the present year; that trade, however, soon withered under the oppression of Government; and with the decline of imports, a diminution was experienced in exports. Prices again declined, and the whole foundation of the growing business was sapped. The Government is feeling with great intensity in its finances

the evils of party legislation. All its sources of revenue have been subverted. By the distribution act of the extra session, a large quantity of the public lands passed into the possession of those States within whose borders it was located. That land is now, on State account, coming into market, and diminishing the sales of the Federal Government, greatly injuring that source of revenue, while a protective tariff is weighing with fearful effect upon the customs. For the year ending January, 1843, the Government borrowed about $15,000,000 above its ordinary receipts, of which $6,500,000 was added to the public debt. For the first six months of 1843, the expenses exceeded the revenue $3,496,673, which was supplied out of the proceeds of the $5,000,000 borrowed in January. In addition to this loan, an issue of $5,000,000 Treasury Notes, alluded to in a previous number, has commenced. The notes on the face express that they are payable "one year after date," and bear but one-tenth per

cent. interest. This is according to law; but in order to evade the law, and give the notes the full character of paper money, they are endorsed on the back to the effect, that they will be purchased at par on presentation at the Government depositories in New York. These depositories are the Merchants' Bank, the Bank of Commerce, and the Bank of New York. This is a palpable evasion, and, to all intents and purposes, the Government in time of peace has been driven to the expedient of paper money, in order to meet its expenses-and this at a time when the people are paying enormous taxes to the manufacturers in the shape of prices on consumable goods, enhanced by the operation of a prohibitive tariff. The level of duties for the first three quarters of 1842 was 20 per cent. At the close of the third quarter of 1842, the rates were raised to an average of 35 per cent. The duties which have accrued in each quarter of the last three years, have been as follows :

An income of duties from 26 to 36 per cent. it appears has diminished the revenue over $1,000,000, an extraordinary proof of the immense injury which has been done by it to the coinmerce of the country. The operation in regard both to trade and the revenues has been this: an import of $54,819,201 of dutiable goods in the first three quarters of 1842, yielded the government a revenue of $14,045,051, or 26 per cent. The rate of duties was then raised, and the imports fell off in the same period of 1843 to $31,000,000, or 36 per cent. This has taken place notwithstanding that prices of imported and American goods average higher now than in 1842. Their value has not increased so much as the difference in the tariff. Had the spirit of the compromise act been adhered to, there is, if we take into con

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sideration the general increasing buoyancy in all markets notwithstanding the restrictions on commerce, every reason to believe that the imports would have run to $100,000,000 of dutiable goods, affording the government $20,000,000 of revenue; amply sufficient to have met its wants without new loans. The import of such an amount of goods would inevitably have taken out of the country an equivalent in agricultural products; a reduction of the stocks on the market by a demand so extended, would have raised the money value of all the farm products in the country, and have vigorously stimulated all branches of trade. As it is, the energies of the people have yet to struggle through legal restrictions, in order to reap the benefit of their natural enterprise.

AMERICAN.

The joyous season for the interchance of presents is fast approaching us; there is something very delightful—we had almost written delicious-in indulging this time-honored custom: and nothing, to our fancy, seems more appropriate than a book for the purpose. In addition to the usual range of Annuals, we are to have some new literary treasures; the most attractive will unquestionably be, the elegant edition of the " Poetical Works of Eliza Cook"-one of the most admired of our lyric poets. We have seen this vo ume in advance of its publication, and can safely predict for it a most enthusiastic reception with the public. Its exquisitely beautiful embellishments (engraved in England, being twelve in number), are unsurpassed by anything that we have yet seen, both for their execution and the witching interest of subject: for the letter-press of the work we claim the same undoubted preference, as well as the chaste elegance of its exterior adornments. Having said so much of its mechanical department, it is needless to say more in order to introduce it to public attention, for the high merits of the poetess require no eulogium from our pen, her writings are universally admired and appreciated-many of them having been linked with the magic of a sister muse. Another elegant volume, expressly designed for a domestic present-book, will be "Mrs. Ellis's popular works illustrated," accompanied with a series of fine English engravings; comprising her "Wives," "Women," and "Daughters of England," "Poetry of Life," &c. The admirable teachings of this esteemed authoress are already everywhere known, and deservedly appreciated, aud presen ed in so fascinating a guise they cannot fail of a most cordial welcome from the discriminating portions of the community. The Langleys are, it is known, the publishers of the above works, and if they were now to cease to be the purveyors of any more such books, they might safely leave the field of literary enterprise with honorable fame for their liberality of purpose and noble achievement in the cause of letters. The same firm. however, have other attractive productions in course of publication: of these we might mention Loder's "New York Glee Book," comprising one hun

dred glees, quartets, &c., newly arranged and adapted for the voice and piano forte; a gift which our musical friends will doubtless welcome with as great glee as juvenile readers will the appearance of the new improved edition of "Robin Hood and his Merrie Foresters," with illustrations.

D. Appleton & Co. are about to publish immediately, "The Youth's Historical Gift," a Christmas, New Year, and Birth-day present, containing familiar descriptions of Civil, Military, and Naval events, by the Old English Chroniclers, Froissart, Monstrelet and others. "The Youth's Book of Nature; or, the Four Seasons Illustrated. Being fami liar descriptions of Natural History, made during Walks in the Country,” by the Rev. B. Draper. Illustrated with 50 cuts. "Very Little Tales for Very Little Children," in single syllables of three or four letters, prettily illustrated. "The Rose; or, Affection's Gift,” for 1844, elegantly bound. The same publishers have also just issued a new work by Bishop Whately, and another by Madame Guizot, styled "The Student's Guide "the" Rectory of Nalehead,” by the Rev. R. W. Evans, 1 vol 16mo., "Lyra Apostolica," from the fifth English edition, in 18mo., "Portrait of a Churchman," by the Rev. W Gresley, 16mo., a very cheap edition of Bishop Burnet's History of the Reformation," in 3 large vols., price only $2 50; "Liebig's Familiar Letters on Chemistry," in 18mo price, bound, 25 cents, in paper 12 cents., "Book of Common Prayer"-rubricated-a very beautiful

edition.

Riker has just issued his new Annual, "The Opal." We had designe i to notice this elegant Gift more at length in our book table, but regret to be obliged to defer it to our next, and must content ourselves by commending it cordially to popular favor; he has also in press, Stackhouse's History of the Bible," a work of long standing reputation in England, and which will be consid ered a valuable addition to biblical literature in our own land; we shall allude to this important work again. Redfield's "Pictorial Bible" is now completed, and may be had in various neat and elegant bindings; the title pages being printed in colors, and the thousand and one illustrations of its text will not fail to charm the taste of all who may be less affected by the graver at

tractions of the holy book. Mr. Redfield must reap a golden harvest by his liberal enterprise

Leonard Scott & Co. have already issued some of their admirable reprints of the English Reviews and Magazines. We do not scruple to commend the extremely liberal efforts of this new establishment to the support of the reading public, and so saying we need not say more, for everybody knows the great value of the works they publish. E. Dunigan has completed an edition of his well-known authorized edition of the Douay Bible, with fine engravings; he has just ready "Victorine," a tale of real life, in 32mo., and has issued his pleasing novelties for the little holiday folks, called "Dame Wonder's Transformations," which ought to sell everywhere, as they are perfectly unique Two new volumes are also ready of Mrs. Hale's "Boys' and Girls' Library," with colored plates. Messrs. Bartlett & Welford are about to publish a valuable contribution to American revolutionary history, entitled "Simcoe's Military. ournal," a history of the operations of a partizan corps called the Queen's Rangers, commanded by Lieut. Col. J. G. Simcoe, during the American Revolution; illustrated by ten engraved plans of actions, &c., now first published, with a memoir of the author, and other additions. This interesting work, hitherto unknown to the public, was privately printed during the last century, and has but now, by the fortunate discovery of Messrs. B. & W., been brought to light. Historical readers may expect, in the forthcoming volume, many important particulars and circumstances of local and general interest.

ENGLISH.

Of the new issues in the department of fiction, we observe-Capt. Chamier's new novel is just out, entitled "The Perils of Beauty," also Mrs. Trollope's "The Lauringtons;" "Arabella Stewart," by James; "The Grave-diggers:" "The Soldier of Fortune," by H. Curling, &c.; "Allanston, or the Infidel," by Lady Chatterton; also "Lord Dacre of Gilsland," and "The Belle of the Family," &c.

The Annuals for 1844 are as usual-" The Keepsake," ," Book of Beauty," "Forget-Me-Not," "Friendship's Offering," "The American in Paris," "Drawingroom Scrap Book," &c., to which we may add a Love-Gift," ""Affection s

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Gift," Bal-room Annual for 1844," &c.

A new humorous work has just been commenced in monthly parts, called "Sylvester Lound, the Somnambulist," by the author of "Valentine Vox;" the "Diary of a March through Sinde and Affghanistan," by Rev J K. Allen, is also just issued in one volume, with several original illustrations.

Chapman & Hall have got up a beautiful series of Juvenile, New Year's and gift books, entitled "Young England's Little Library,' contributed by many of the popular pens of the day.

L. Maunder has two new volumes in preparation, "The Treasury of History," and the "Universal Class Book."

MISCELLANEOUS.

We observe the library of the celebrated Dr. Gesimus is about to be disposed of by auction. This will bring to light a rich collection of literary treasures, as the distinguished collector had amassed the best books on ecclesiastical history and biblical interpretation, besides numerous authors in the Greek, Latin, and almost a dozen Oriental tongues. We notice, in the last number received of the Athenæum, the Memorial on Copyright intended for Congress, copied at length, and introduced by the remarks of the Editor, of a most unsavory kind. How a copy of this document,which ought certainly to have been confidentially preserved for its original destination, could have had authorized insertion in a foreign journal, thereby anticipating its object, we cannot divine. This circumstance will doubtless prove injurious to the prosperity of the move

ment.

It is said that General Bertrand has now in press a work on the campaign of Napoleon in Egypt, dictated to him by that great commander while he was at St Helena, a few months before his death, and which goes fully into all the details of that extraordinary movement. It will contain, also, Napoleon's views of the politics of the different governments of Europe during the same period.

M. Gourdet, a French military officer, who has been for several years in Africa, has recently returned home, bringing with him several objects of curiosity which he collected during his stay in that part of the world. Among these curiosities is a Koran in Arabic manuscript. It is bound in morocco, once red, and in every respect presents the It is appearance of great antiquity.

not divided into surates or chapters, which proves it to be one of the two primitive editions produced at Medina. It is written on thick silk paper, and is adorned with colored capitals. This Koran belonged to a Marabout of the tribe of Ben-Menasser, and was found in the habitation of the chief of that tribe, by M. Gourdet, after a battle which his battalion fought in that mountainous district of Africa.

M. de Lamartine is said to be busily employed on a work for which he has been, during many years, collecting materials. It is a "History of the most Remarkable Periods of the French Revolution."

M. de Castellane has at length succeeded

in carrying into effect his long-cherished scheme of founding in Paris a feinale "Académie Française." Among the objects proposed by the institution are -The distribution of medals to the authoresses of remarkable works; the encouragement of young females in their first literary essays, and the defrayal of the expenses of printing their works; affording pecuniary aid to literary women in straitened circumstances, and providing for the children of those who die in poverty.

Some manuscripts of Galileo which were presumed to have been lost, or burned by order of the Inquisition, have been found among some old archives in the Palazza Pitti. This discovery has created a wonderful degree of interest in Florence. It proves that the Inquisition, which was accused, may be calumniated; a fact of which many persons entertained considerable doubt. Be that as it may, the manuscripts, besides being objects of curiosity, are likely to be useful to astronomical science, inasmuch as they contain information respecting the eclipses of former

times, a course of the satellites of Jupiter, subjects to which Galileo directed great attention. Literature has sustained a loss by the death of Caroline Pichler, who has long maintained a distinguished rank among the novelists and poetesses of Germany. She was born on the 7th September, 1769. Her mother was one of the Empress Maria Theresa's ladies of the bed-chamber, and Caroline Pichler held an appointment in the court of Austria, where her husband was a counsellor of state. She died at Vienna, the 9th of July, after an illness of considerable severity and duration. To the last, in conversation with her friends, she manifested a lively interest in literary subjects.

M. Fétis, the well-known musical historian and critic, has recently made some discoveries in the Royal Library at Brussels, which promise to furnish va luable contributions to the history of music. Among the books of plain chat in the library, he has found a volume of masses and motets by celebrated composers who lived about the end of the fourteenth and beginning of the fifteenth centuries. By these compositions, a considerable chasm in the history of the musical art is filled up. Another discovery made by M. Fétis, though less valuable than that just described, is nevertheless very important It consists of a superb manuscript, written on fine vellum, presenting a beautiful specimen of calligraphy, and adorned with curious arabesques, amidst which is traceable the portrait of the court fool of Maria of Burgundy. This manuscript belonged to a volume formerly kept among the Belgian archives, but which was cut up and destroyed.

WITHOUT Venturing any apologetic remarks on the past, or indulging in any extraor linary promise of improvement in the Pictorial department of our work, as to the future, both of which might, perhaps, justly be demanded of us, we beg simply to announce the fact, that through the politeness of Messrs. Anthony, Edwards & Chilton, the resources of their extensive "National Miniature Gallery" of Daguerreotype Portraits of distinguished individuals will be rendered available for the purposes of the Democratic Review. To this source, we, in common with our Subscribers, are in lebted for the beautiful portrait which accounpanies the present Number, as well as those of many of our previous issues; we may, therefore, rely with entire confidence

on the ample material for the future in this attractive feature of our work, since the “Gallery” of this establishment already comprises faithful likenesses of very many of our countrymen, distinguished either by their station or in their profession, to which additions are constantly being made, which, as specimens of artistie skill, evince the highest degree of perfection to which the photographic art has yet attained. Such enterprise merits adequate recompense, which is only sought of those who think the Daguerreotype likenesses of their execution worthy of patronage. This we know-it is the aim of these gentlemen to excel, and we are happy to bear our testimony to their ability and signal success.