son, and Mr. Jos. Fry. The total liabilities of Mr. Poutz are not yet precisely known, but it is said they are below what was reported yesterday. Many of his bills fall due on the 19th, and as he was a large holder of cotton, the state, both of his affairs and of those of the parties connected with him, will be affected considerably by the course of prices. Yesterday the market was relieved by extensive purchases, and there is at the same time entire confidence that the present mischief is merely superficial, and wholly unconnected with the steady progress of ordinary business."

THE CORN TRADE.

The Gazette returns for England and Wales have been :—

And the following have been the importations of grain since the harvest of

It will be seen from these figures, that there has been a slight decline in

the price of wheat in our markets. The home deliveries, it will be observed, continue on a very limited scale. The foreign importation-almost wholly from France-continues to be large. During March, April, and the first two weeks of May, the weather in the southern part of the island of Great Britain was cold, rainy, and most uncongenial. Nor has it yet become quite seasonable and settled. Vegetation generally is very backward; and there can be no doubt that in some parts of the country, and on some kinds of land, it will require very fine weather, indeed, for a succession of weeks, to ensure a successful harvest at the usual time. The general impression, however, is, that the young crops have not yet been materially affected by the recent severe weather.

It appears from these figures that the diminution of bullion which has been so long gradually in progress has received a check, and that the Bank treasure is again increasing. It appears also that there has been no rapid increase of the private securities during the month, and that the banking reserve, compared with the liabilities against which it is held, is of about the usual amount. These circumstances, we imagine, explain very clearly the non-occurrence of any further rise in the minimum rate of interest. Reports have been very prevalent all the month that the Bank Directors intended to raise their official rate; but hitherto every Thursday has passed over without the appearance of the anticipated notice. We have repeatedly pointed out to our readers that the peculiar form and manner in which the Bank returns are published, and the circumstance that the latest figures before the public are necessarily from seven to fourteen days behind the actual facts of any particular day, renders it a somewhat unsafe practice to argue too confidently as to the policy of the Directors from the seeming complexion of what may be their latest return. At particular periods, no doubt, the returns have upon the face of them an interpretation not to be misunderstood; but an observation of that kind can at most have but a limited application. It is desirable at present that all parties should be vigilantly alive to the casualties of the future, but it is very probable that during the last few weeks the anticipations of a higher rate of interest have considerably exceeded the occasion.

FOREIGN EXCHANGES.

The foreign exchanges remain nearly as reported by us last month. The price of silver has declined in consequence of the demand for India having ceased. Standard silver in bars are now say 5s. 1d. per oz.

Prices of Joint-Stock Bank Shares.

May 24th.

- Hud

HUDDERSFIELD (Messrs. Geo. Lancashire & Co.), dersfield Banking Company (£10 paid), 7 to 8 pm.; Halifax and Huddersfield Union Banking Company (£10 paid), 3 to 3 pm.; West Riding Union Banking Company (£5 paid), to pm.; Yorkshire Banking Company (£4 4s. paid), 1 to 14 pm.

HULL (Messrs. T. W. Flint & Co.), May 24th.-Hull Banking Company, 11 to 11 Yorkshire Banking Company, 5 to 58.

DUBLIN (J. J. Stephens and Son), May 23rd.—Bank of Ireland Stock, 209, 208, 209, 209, 209, 2091, 209, 2101-1, 2101; Hibernian Bank, 28, 29, 281, 28; Provincial Bank of Ireland, nil; Royal Bank of Ireland, 121-1, 121, 123; National Bank of Ireland, 204, 20, 197, 19, 19, 181, 18§. BIRMINGHAM (Messrs. Lane and Perry), 26th May. - Birmingham Banking Company, 284 to 281; Birmingham Town and District, 10 to 101; Birmingham and Midland, 78 to 80; Bilston District, 5 to 6; Coventry and Warwickshire, 8 to 8; Coventry Union, 53; Dudley and West Bromwich, 14 to 14, Gloucestershire Banking Company, 27 to 27; National

and Provincial Bank of England, 41 to 42; New Shares, 1 to 2 pm.; Stourbridge and Kidderminster, 9 to 9: Shropshire Banking Company, 9 to 9; Warwick and Leamington, 2 to 24; Wolverhampton and Staffordshire, 16 to 161.

LEEDS (Messrs. Greenland, Brothers), 26th May. - Leeds Banking Company, 21 to 21; Yorkshire Banking Company, 51 to 54.

MANCHESTER (Messrs. John Railton & Sons), 24th May.-Manchester and Liverpool District Bank, 4 to 4; Manchester and Saltord Bank, 3 to 4; Union Bank of Manchester, 41, 44.

Reviews,

Logic for the Million: a Familiar Exposition of the Art of Reasoning. By a Fellow of the Royal Society. London: Longman & Co.

THERE are few things more necessary for a man of business than a knowledge of the art of reasoning; and although a counting-house student may not perhaps think it imperatively requisite, in order to succeed in his profession, that he should include the study of logic as a part of his education, he will certainly find his advantage in improving his natural ability as a logician by reading some text-books on the subject. With reference to many professed treatises on the art of reasoning, Mr. Blakey, himself a clever logician, says"There seem to be two principal causes which render modern systems of logic both tiresome and comparatively useless; and these are, first, the employment of a vast number of the old scholastic terms and phrases, derived from logicians of former times, which throw over the art such an air of difficulty and perplexity, that the reader, before he has well entered upon the study of his subject, is worn out by the mere pressure of uncouth words, and is glad to make his retreat from such an irksome task with all possible expedition. The second cause, and one which is by far the most important, is, that our common books of logic may be said rather to treat of metaphysical systems than to unfold those rules, precepts, and suggestions, which are instrumental in directing the judgment to right conclusions on the various important subjects on which it is necessary that man should be well acquainted. The generality of the books here alluded to, have been founded upon the principle, that before we could exercise our reasoning powers with energy and effect,-before we could form right notions, and give method and consistency to our conceptions, it was absolutely necessary that we should be expert metaphysicians, should be acquainted with all the mental speculations of the day, and intimately and familiarly conversant with the anatomy and physiology of our own minds. But this, I apprehend, is a radical error in our common treatises on logic."

The author of the work before us shows, we think, very clearly, that it is no more necessary for a man to be a metaphysician in order to become a good reasoner, than it is necessary for one to be an anatomist before he can be a dancer. The author has produced a book quite free from the scholastic pedantry of most elementary works of the kind; and he has succeeded in making a most entertaining as well as a very instructive book. This is the result of the agreeable style in which it is written, and the admirable selection of examples from modern writers and speakers of every description. Thus the art of reasoning is illustrated by examples from Punch,' Dr. Pye Smith, 'Gilbart's Lectures on Commerce,' and 'Practical Treatise on Banking,' Dr. Chalmers, Sydney Smith, M'Cullough; the Newspapers of the day, and a variety of modern writers, whose remarks are the more interesting because

they are familiar to all of us, and therefore come with greater force than extracts from the Spectator' or the Rambler.'

The author has done good service by the publication of this book, and though he does not prefix his name in the title-page, we are sure he may safely do so, without danger to his reputation, in subsequent editions.

Station Map of the Railways in Great Britain, corrected by the Companies. London: Groombridge and Sons.

A MAP of this description has been long required. Railways having altogether superseded the old turnpike roads for travelling, it is a matter of surprise that a Station Map, such as that before us, has not already been published. This is a very complete one, and has evidently been prepared with great care. It contains the Stations on all the lines of railway in the kingdom, with the chief towns to which they are adjacent; and we think it will be found to be a very useful companion to the railway traveller, and indeed to every class of persons who require to know the locality of the Stations on the different lines of railway.

The American Bankers' Almanac. Putnam, New York. Chapman, London. THIS is a work on the same plan as our Bankers' Almanac,' containing a great amount of useful statistical information relating to American banking, which will be read with interest by bankers in this country. It appears to have been carefully and judiciously arranged.

Manuel du Tariff des Douanes Russes. London: Groombridge and Sons. THE various duties in the new tariff of 1850 are compared in this work with those of 1841. The list will be found very useful to the mercantile community.

Notes of the Month.

NATIONAL BANK OF IRELAND.-At the annual meeting held on the 28th May ultimo, the Directors' Report showed that the profits of the year ending December last had been £25,161, which added to the previous reserve of £50,105 made £75,266; of this sum £22,500 had been paid in dividends last year; aud the Directors proposed to apply all the balance except £2,055 to provide for bad and doubtful debts. No dividend could therefore be declared; but the Directors hoped the profits for the next half-year ending June would enable them to pay a dividend as heretofore. We shall give the Report in full next month.

THE SECRETARYSHIP OF THE BANK OF BENGAL.—(From our Correspondent in India).-At a meeting of the Directors of the Bank of Bengal at Calcutta, on the 13th of March, the Secretaryship was finally disposed of, Mr. William Grey, of the Bengal Civil Service, being the fortunate candidate. Mr. Grey is a Writer of 1840, and is stated to be a man of considerable talent. In 1847, he was appointed Under Secretary to the Government of India, in the Home and Financial departments. In 1848, he was appointed in the same capacity to the Foreign Department. In 1850, he was appointed Private Secretary to the Deputy-Governor, and President of the Council. His father was brother to the celebrated Lord Grey, and he is, consequently,

first cousin to the present lord. He has, of course, had no experience in mercantile and banking matters; but, with his reputed talents, he will have no difficulty in becoming au fait. The commercial delinquencies of Calcutta, and the bad odour in which this city is, may be safely charged, we fear, with this return to the Civil Service for a Secretary.

Mr. Grey has now before him a task to which, it is to be hoped, he will address himself with vigour, earnestness, and determination. Banking in India, and especially in Calcutta, has not kept pace with the times, and is far, very far behind the improvements in England. Complaints have reached us occasionally, of the adherence to forms, and of the multiplication of checks, whereby business is considerably impeded. It is time all this were remedied. Every facility consistent with safety should be afforded to the public, and the Directors and Managers of all the Indian Banks would cheaply purchase an improved system of transacting business, were they to depute one of their clerks to England to study, practically, the working of our London institutions.

Mr. Charles Hogg, we understand, unless compelled by sickness, would not vacate his seat before the 1st of May.

ARBITRATIONS OF BULLION.-The quotation of gold at Paris is about 3 per mille discount (according to the new tariff), which, at the English Mint price of £3 17s, 104d. per ounce for standard gold, gives an exchange of 25.10; and the exchange at Paris on London at short being 25.00, it follows that gold is 0.40 per cent. dearer in Paris than in London.

By advices from Hamburgh the price of gold is 425 per mark, which, at the English Mint price of £3 17s. 103d. per ounce for standard gold, gives an exchange of 13.43; and the exchange at Hamburgh on London at short being 13.5, it follows that gold is 0.29 per cent. dearer in London than in Hamburgh.

The course of exchange at New York on London for bills at 60 days' sight is 110 per cent., and the par of exchange between England and America being 109 23-40 per cent., it follows that the exchange is nominally 0.92 per cent. in favour of England; and after making allowance for difference of interest and charges of transport, the present rate leaves a profit on the inportation of gold from the United States.

NEW SILVER COIN IN THE UNITED STATES.-By a law passed in March last the Mint of the United States is authorised to coin a new piece, of the legal value of three cents, or three-hundredths of a dollar, to be composed of three-fourths silver and one-fourth copper, to weigh twelve grains and three-eighths of a grain; which coin is to be a legal tender in payment of debts for all sums of thirty cents and under. It is stated that the new coin, one of the smallest of a silver currency, is authorized with a view to convenience in payment of postages on letters, three cents being the postage for any distance in the United States not exceeding 2,000 miles, on letters not exceeding half an ounce in weight.

EXCHEQUER Bills.—AdverTISEMENT.-Office of her Majesty's Paymaster General, Whitehall, 19th May, 1851.-The Exchequer Bills dated in the month of June, 1850 (per Act 13 Vict., cap. 10, £17,758,700, Anno 1850), with the interest due thereon, will be paid off on the 12th June, 1851, when the interest will cease. Such bills will be received for exchange at this office daily, from half-past ten till three o'clock, until the 5th day of June, 1851, inclusive.

Printed forms, containing instructions for the preparation of the lists (or claims), and the arrangement of the bills, may be obtained on application at