Mr, FILLMORE, in response, expressed his surprise at the honor conferred upon him, thanked the author of the toast, and also the company, and proceeded to congratulate the merchants of Buffalo upon the revival of the Board of Trade, and the opening of the beautiful room in which they were assembled. He referred, by way of contrast, to its spaciousness and beauty, to the Royal Exchange in London, and "Lloyd's," the headquarters of the insurance business of the world, in the same city, both of which he had visited on his European tour. Each was entirely devoid of the evidences of taste here presented, lacked a host of conveniences, and the latter, in especial, was not half so commodious as this. The Exchange in Hamburg, Germany, was so small that the floor had to be marked off like a chequer board, every merchant having his separate check, upon which he might always be found standing during 'Change hours. The speaker hoped to see the day when the members of the Buffalo Board of Trade would be so numerous as to require the same system. He concluded by congratulating anew those present upon the evidences of prosperity around them, and expressing himself with them in everything relating to the welfare of Buffalo. HENRY W. ROGERS, Esq., being called upon, spoke briefly: He had been a resident of Buffalo only a comparatively short period, but when he came it was no uncommon thing to see vessels leave this port with the means of subsistence for the people of Wisconsin and Illinois. Now the trade was reversed, and Buffalo had become a port of receipt instead of export-the greatest port of receipt and the most important grain market in the new or old world. At no time had she been so strong as at present in wealth or reputation; and her merchants would only need to avoid reckless speculation and adventure, and keep to the safe highway of legitimate business, to increase her prosperity and greatness ten-fold. GEORGE B. HIBBARD was the next speaker called for. We append but a brief and incomplete sketch of his remarks. He said: It was scarcely to be expected upon so marked an occasion as the opening of these rooms that any thing should be said except by those immediately connected with the commerce of the place. Nevertheless, all professions were so connected with the prosperity of our commerce as to make the occasion one of importance. The commerce of the place was to this city what the commerce of the world was to greater interests-the founder of States, the cause of all social development and the source from which springs the completest evidence of a nation's prosperity, its laws. It was appropriate, above all things, that reference should be made to the great internal trade of the lakes. The very cities which sit along the shores were but the handmaidens of that commerce. The source of our prosperity, to the great interests of trade, must also be attributed to our ultimate security and existence. Whatever so great a cause could have enabled this country to give the greatest exhibition of power in force or finance known to history? And in the end, when the great abitrament, in which arms are the arguments, and the God of Hosts the judge, shall have passed, to the great interests of trade-must we look to restore the time when peace shall live along the farthest horizon of the future, and the constitution shall bend in its protection over all. Mr. HIBBARD closed with an allusion to the great energy and high character of the business men of the town-to the courage and energy of the business men of the country. Other remarks were made, but we have not the space for them. At the close a large number of new names were affixed to the Secretary's books, and a considerable amount in dues collected. We are very glad, therefore, that the success of the new enterprise is ensured. No place needs an active Board of Trade more than Buffalo, for many reasons. The yearly reports of such a body cannot be dispensed with. Carefully and accurately prepared statistics of her commerce are invaluable to the whole country, and yet, during the past four years, they have been very faulty and imperfect. We are pleased that this effort is made by men who never fail. IRON TRADE MEETING. We find reported in the North American and United States Gazette the proceedings of a meeting of the iron manufacturers and dealers, held at the rooms of the Board of Trade in Philadelphia, July 15th. Mr. JOHN WELSH was called to the chair, and Mr. CHARLES WHEELER chosen secretary. The Chairman announced that the meeting assembled under the following call from Messrs. TASKER & CO., THOS J. POTTS, McCULLOUGH & Co., and other representatives of the iron manufacturing interests, dated July 8th, 1862. "Referring to circular of 5th ultimo, having for its object a reduction of credits from six to four months, it has been decided to call a meeting of those interested in the iron business, to be held at the rooms of the Philadelphia Board of Trade, No. 505 Chesnut street, on Tuesday next, July 15th, 1862, at 12 o'clock noon, to which you are respectfully invited. "We trust you will see the importance of this movement and strengthen it by your presence." The Chairman remarked that the object of this meeting was to try to get the trade unanimously to consent to a reduction of credits from six months, as has been the rule heretofore, to four months. The object is so apparent, and so evidently for the general good, that there could be no necessity for saying much to enforce it. The circucular was addressed to a great many parties, some of whom are here; others have forwarded communications which, if the meeting desire, will be read. About seventy-five communications were received, the largest portion of which were read by the Secretary. Mr. Hugh E. Steele then offered the following preamble and resolutions, which, after the addition of the fourth resolution as proposed by Mr. Samuel J. Reeves, read as follows: Whereas, a reform in the credit system of the iron trade is desirable for the interest of the consumer as well as of the manufacturer and dealer; and whereas, concert of action is necessary to consummate the same, it is therefore resolved, First. That the credits on sales on and after the first of August, 1862, be reduced to four months. Second. That sales for cash should in all cases be held to imply a settlement within ten days. Third. That the discount for cash should not exceed four per cent. Fourth. That settlements of bills, whether by cash or note, shall be made in currency equal in value to the United States legal tender notes. Fifth. The foregoing resolutions are recommended by this meeting as a rule of action for the iron trade, and the individuals and firms consenting thereto pledge themselves that they will give these resolutions their united and hearty support. Sixth. That the proceedings of this meeting be published, and copies sent to all members of the trade. These resolutions were fully discussed and unanimously adopted: Resolved, That we recommend the trade to establish the uniform custom of adding the excise at the foot of the bill of sale, and that, when quotations of price are made it shall be understood that the tax be an additional charge. The chairman remarked, in reference to this resolution, that he thought it ought not to be adopted. It would appear to be setting a bad example to a large community of manufacturers, most of whom would immediately follow in our steps. Every manufacturer of every description would take this action as his guide, and from the smallest article up to the largest the price would be quoted irrespective of the tax, and every account would be rendered with the tax separately stated. The true principle is to look upon the tax as a part of the cost of production, and estimate it in that way. We had better look upon it as a part of the production in all instances. It is a tax upon profits, upon manufactures, and it would be rendered odious if distinguished as the resolution proposes. The chairman thought none of the gentlemen in the trade would, under any circumstances, take a position likely to embarrass the government, or to render its claims on us in the way of taxation in the least degree distasteful. All should concur in efforts to show that these taxes are cheerfully paid. Mr. Reeves disclaimed any idea of rendering taxation odious, and if such a result could by any possibility follow the adoption of his proposition he would withdraw it. As there seemed to be some opposition to the views expressed in his resolution, he withdrew it. After making provision for paying the expenses incurred, the meeting adjourned. JOURNAL OF BANKING, CURRENCY, AND FINANCE. 1. CITY WEEKLY BANK RETURNS-NEW YORK BANKS, PHILADELPHIA BANKS, BOSTON BANKS, PROVIDENCE BANKS. 2. WEEKLY STATEMENT BANK OF ENGLAND. Date. January 4,.... 66 11,. 18,. (6 25, February 1,.... 66 8,.. 15,.... CITY WEEKLY BANK RETURNS. 93,791,629 NEW YORK BANKS. (Capital, Jan., 1862, $69,493,577; Jan., 1861, $69,890,475.) Weekly Loans. Specie. Circulation. Net Deposits. Clearings $154,415,826 $23,983,878 $8,586,186 $111,789,233 $100,642,429 152,088,012 25,873,070 8,121,512 113,889,762 105,634,811 149,081,433 26,120,859 7,869,028 113,327,160 107,732,780 145,767,680 26,698728 6,828,017 110,874,786 100,001,959 144,675,778 27,479,583 6,404,951 112,057,003 143,803,890 28,196,666 6,077,417 110,637,557 113,216,297 141,994,192 28,114,148 5,762,506 110,430,475 105,102,177 139,950,958 28,875,992 5,489,496 109,079,076 111,346,066 137,674,238 29,826,959 5,363,944 107,974,499 109,854,823 133,055,148 30,436,644 5,869,206 103,715,728 113,512,576 130,622,776 30,773,050 5,904,866 100,296,704 127,615,306 32,023,390 6,260,309 125,021,630 32,841,802 6,758,313 124,477,484 33,764,382 7,699,641 123,412,491 34,594,668 8,004,843 123,070,263 34,671,528 8,064,663 125,086,825 35,297,944 8,118,571 101,897,435 March April 22,... 1,... 8,. 5,..... 12,... 19,. May 118,957,978 97,601,279 115,376,381 94,428,071 106,973.432 94,082,625 111,356,384 93,759,063 114,738,013 95,179,340 118,529,377 124,396,738 133,406,418 35,175,828 8,482,782 109,634,535 140,952,471 138,948,211 32,239,868 8,830,821 115,559,206 181,113,537 142,290,782 30,280,697 8.727,328 120,003,929 167,390,055 142,950,149 30,672,760 8,592,676 122,602,864 142,828,565 142,671,414 31,397,284 8.535,149 125.434,755 136,893,378 142,318,381 31,248,882 8,813,603 125,566,961 148,123,108 144,014.350 31,162,048 8,814,322 125,643,375 165,521,454 146,839.762 81,047,945 8,849,183 126.684,422 168,059,997 148,346,422 30,832,626 8,910,344 127,860,708 154,890,445 148,643,718 31,790,519 9,270,815 127.496.534 149,748,923 147,997,436 32,098,174 9,212,397 127,538,055 167,789,726 148,827,428 31,926,609 9,155,301 129,485,977 161,066,594 46 13,... PHILADELPHIA BANKS. (Capital, Jan., 1862, $11,970,130,) Loans. Specie. Circulation. Deposits. Due Due to banks. from banks Date. Jan. 6,... $31,046,537 $5,688,728 $2,145,219 $21,396,014 $3,645,956 $1,796,805 31,145,938 5,692,123 2,162,152 21,324,510 8,992,952 1,702,716 80,601,160 5,783,450 2,120,756 20,698,496 4,120,261 1,575,116 80,385,606 5,821,323 2,121,146 20,058,098 4,209,006 1,858.688 30,385,319 5,884,011 2,144,598 20,068,890 4,572,872 1,707,136 29,974,700 5,928,874 2,191,547 19,032,535 4,890,288 1,587,481 Date. Feb. 17,... 24,... Mar. 3,.. 10,. 66 46 17,... 66 24,... 66 31,... April 7,.. 64 14,... 21,... 28,... May 5,... 12,... 19,... 46 26,... June 2,... 66 9,... 16,... 23,. 08 30,. July 7,... 66 14,.. 66 Due to banks. Due from banks. 2,052,031 1,935,414 Loans. Specie. Circulation. Deposits. 29,388,544 5,849,354 2,191,512 18,692,182 4,661,442 29,280,049 5,867,686 2,230,605 18,777,800 5,205,203 29,393,356 5,881,108 2,343,493 18,541,190 5,218,383 1,828,383 28,083,499 5,869,730 2,575,503 17,375,771 5,131,834 1,733,169 28,723,835 5,897,891 2,632,627 17,253,461 5,342,876 1,649,137 28,350,615 5,915,535 2,707,804 17,066,267 5,210,365 1,774,162 27,831,333 5,884,314 2,904,542 17,024,198 5,100,186 2,184,892 28,037,691 5,886,424 3,378,970 16,636,538 5,607,488 2,231,889 28,076,717 5,912,870 3,496,420 18,112,446 4,868,842 2,634,171 28,246,733 6,046,260 3,525,400 19,011,833 4,548,327 2,504,147 28,793,116 6,052,827 3,613,994 20,223,556 4,470,674 3,128,069 29,524,482 6,049,685 3,759,692 21,316,614 4,531,837 3,823,659 29,966,347 5,728,028 3,867,200 23,002,263 5,118,541 4,981,291 31,121,563 5,529,221 4,045,696 23,385,009 5,597,984 4,804,956 31,539,603 5,587,012 4,186,055 23,973,478 5,472,615 5,120,902 31,747,070 5,583,482 4,335,013 24,884,644 5,373,322 5,872,748 31,951,715 5,632,307 4,354,599 24,973,011 5,161,280 5,355,034 32,132,654 5,630,503 4,298,023 24.807,057 5,036,828 5,396,328 32,554,655 5,609,926 4,324,735 24,143,314 5,144,628 4,800,094 32,911,578 5,573,999 4,430,057 24,410,423 5,583,644 5,233,273 33,206,661 5,545,007 4,749,220 24,307,782 5,733,574 5,422,124 33,118,502 5,579,945 4,859,921 24,183,604 5,936,594 5,415,203 21,... 33,086,808 5,613,724 5,005,583 24,485,817 5,794,325 5,219,445 BOSTON BANKS. (Capital, Jan., 1862, $38,231,700; Jan., 1861, $38,231,700.) 66 20,... Loans. Due Due Date. Specie. Circulation. Deposits. to banks. from banks. Jan. 6,... $65,612,997 $8,920,486 $6,451,587 $27,093,839 $9,187,924 $8,701,873 66 13,... 64,704,039 8,580,607 6,612,512 25,642,994 9,634,227 8,805,255 64,409,585 8,585,277 6,549,871 25,441,327 9,547,319 9,018,388 63,025,191 8,562,175 6,284,268 24,030,776 9,598,545 8,727,348 62,628,793 8,529,483 6,260,299 23,500,321 9,727,783 8,766,415 62,340,600 8,514,600 6,616,000 22,784,700 9,892,600 8,965,500 62,587,788 8,410,890 6,469,309 22,034,794 9,653,725 8,315,887 62,053,640 8,341,588 6,580,205 21,515,228 9,625,869 8,644,360 61,678,500 8,364,500 6,318,700 21,208,500 9,681,500 8,982,600 61,834,500 8,409,585 6,693,139 20,740,208 9,906,110 8,450,721 61,747,000 8,471,000 6,364,800 20,554,000 9,790,000 7,981,000 61,655,420 8,441,058 6,219,512 20,326,087 9,715,256 7,669,531 61,360.789 8,441,196 5,908,272 19,975,018 9,434,782 6,978,527 61,208,974 8,674,170 6,557,152 21,014,000 9,245,088 8,183,124 61,058,969 8,688,573 6,170,383 21,009,010 8,949,259 7,178,374 61,019,787 8,679,356 5,924,906 21,570,017 8,529,277 6,946,164 60,441,452 8,666,797 5,500,396 22,402,134 8,493,004 7,818,580 59,805,545 8,593,990 5,453,815 23,823,199 8,655,206 9,898,508 59,521,251 8,422,738 5,537,937 24,827,121 9,197,744 11,755,589 60,059,635 8,304,584 5,602,844 25,799,916 9,614,787 13,105,350 60,266,275 8,108,695 5,508,756 26,264,656 10,029,198 13,795,636 60,677,367 8,089,723 5,348,138 26,730,486 10,226,491 13,924,896 62,059,198 7,983,425 5,696,413 26,277,021 10,610,702 12,888,043 62,591,341 7,894,899 5,875,612 25,602,048 10,632,170 11,884,692 63,056,262 7,850,634 6,159,115 25,994,738 10,644,000 12,122,000 63,638,999 7,801,487 6,181,019 26,237,754 10,678,205 12,265,781 July 7,... 64,590,268 7,934,037 6,943,827 26,868,862 11,686,142 18,869,180 14,... 65,635,000 7,978,000 7,091,000 26,685,000 12,675,700 13,624,000 21,... 65,989,168 7,980,780 6,840,474 26,898,242 13,436,486 14,060,762 14,... 46 21,... 66 28,... May 5,... |