A new historical novel will be published early in the spring, by the author of "Cromwell," &c., entitled "Marmaduke Wyvil, or the Maid's Revenge," in 2 vols. 12mo. ment made some time since in several of the public prints, to the effect that Sir E. L. Bulwer had retired from novel-writing in consequence of a decline in the popularity of his recent works. We have it on the authority of a letter from his publishers in London, that such is not the fact, but that he has a new work in press, dif fering from anything he has yet written; and from what may be judged from a cur S. COLMAN has just issued a small volume, beautifully printed, entitled "The Amazonian Republic, recently discovered in the interior of Peru," by ex-Midshipman T. Savage. The title of this work will alone prove a sufficient stimulant to awa-sory glance at some portions of the work, ken the curiosity of the reader, and we will not break the charm by affording him an induction into its hidden mysteries. We have pleasure in announcing, that the work entitled "Poets and Poetry of America," by Rufus W. Griswold, is about immediately to appear. It will be embel. lished with finely-engraved portraits and other engravings. E. DUNNIGAN has in press the following new English juveniles: Uncle Buncle's True and Instructive Stories about Animals. The Countries of Europe; The Three Baskets. Short Tales in Short Words. More Seeds of Knowledge. A Visit to the Zoological Gardens. HASWELL & JOHNSON, Philadelphia, have in press, a Treatise on Amaurosis and Amaurotic Affections, by Edw. O. Hocken, M. D. SAMUEL AGNEW, of same place, announces a new edition of Tooke's Diversions of Purley, with notes by Richard Taylor. JAMES B. DOW, of Boston, has just issued "Wreaths and Branches for the Church," by a Lady; 1 vol. 8vo, finely printed. E. C. BIDDLE, of Philadelphia, has just published two neat and valuable volumes, adapted as class-books, and both of which we perceive have attained to their eighth edition. They are a system of Natural Philosophy on the basis of the "Book of Science," by J. M. Moffat, and Johnson's Chemistry, by Moffat. ALLEN, MORRILL, & WARDWELL have just issued a new work, by Alonzo Gray, author of "Elements of Chemistry," entitled " Elements of Scientific and Practical Agriculture, or the Application of Natural Science to Agriculture and Horticulture." The previous work of this author is a sufficient guarantee for the excellence of the above work: it is designed as a text-book for Academies, Colleges, &c., and is illustrated with numerous engravings. The first number of the American edition of The Dublin University Magazine, announced in our former number, by Mrs. Mason of this city, will be issued in the course of the present month, commencing with the January number. Of the litera ry claims of this work, we have already expressed our opinion. ENGLISH LITERARY ANNOUNCEMENTS. BULWER'S NEW WORK.-We have the pleasure of being able to contradict a state is likely to awaken more than ordinary interest. We understand it is a romance, the scene of which is laid abroad, and the title "Zanoni, or the Secret Order." It is expected to be ready for publication in London during the present month. A new and corrected edition of the Works of Shakspeare is, we observe, announced as in course of preparation by Mr. Payne Coilier. The reasons of the editor for adding another to the already numerous editions which have been given to the world, are as follows: First, because the text of Shakspeare, even as it existed in the first folio edition of his collected works, published by his "fellowes" Heminge and Condell, has not been correctly given; editors having sometimes taken upon themselves to improve the metre, punctuation, &c., without notifying their alterations: Secondly, on account of the mass of manuscript evidence of various kinds in existence hitherto untouched and inaccessible; but which is now rendered available to Mr. C., by the knowledge and skill he possesses, resulting from a life of devoted application to the study of dramatic history, &c., and also from the kindness and liberality extended to him by the Duke of Devonshire, whose unique collection of Shaksperian MSS. &c., opens a rich field of information regarding the authenticity of various readings: in addition to which he has discovered other valuable notes and commentaries in early editions of the Bridgewater Library, the Bodleian, &c., &c. From specimens already given in the prospectus of Mr. Coilier of the vital inaccuracies thus detected in the received version, there can be little doubt but that the labors of Mr. C. will prove an invaluable contribution to literature, as well as a most acceptable offering to the admirers of the immortal bard. The work is to comprise a digest of all the best previous cominentaries, a New Life, and almost innume able corrections of the text. It will form 8 octavo volumes, the first of which is now nearly ready for press. Mr. Ainsworth's new work, announced in the last English papers as about imme. diately to appear, is entitled "Old St. Paul's, a Tale of the Plague and the Fire," with twenty illustrations. Memoirs of Frederick the Great and his Times, comprising original letters of that monarch, now first published, by Thomas Campbell, Esq., was said to be also ready. The first number of "Handy Andy," by Samuel Lover, was announced for January 1. The following are now in progress : Memoirs, Journals, and Correspondence | doo and Mohammedan periods; 2 vols. of Mad. D'Arblay (Miss Burney), vol. 1. 8vo. The Memoirs of Madame de Sevigne, noticed in our former number. A new nautical romance by Mr. E. How. ard, author of "Rattlin the Reefer," the hero of which represents the extraordinary freebooter, Sir Henry Morgan, known as "the dreaded skipper of the seas," is nearly completed. Rev. H. Cary, the son of the translator of Dante, announces for immediate publi. cation, "Memorials of the Great Civil War in England from 1646 to 1652, comprising numerous letters from the Bodleian and other Public Libraries. "Anue Boleyn" is the title of a new novel by Mrs. Tompson, author of "Constance." "The School for Wives," by the author of "Temptation, or a Wife's Perils," &c. Mr. Nash has just completed the third volume of his splendid work, "The Mansions of England in the Olden Time," with finely-colored plates. "The Battles of the British Navy," from the Roman Conquest to the present time, by Josiah Allen, author of "The Wooden Walls of Old England." Dr. Beattie has just issued proposals for a magnificent work, to be issued in monthly parts, and profusely embellished, entitled "The Castles and Abbeys of Eng. land, including Royal Palaces, Baronial Halls," &c. Of books of Travel, we observe the following: An Account of Konawur in the Himalaya, by the late Capt. Alex. Gerard; 1 vol. 8vo. Wood's Narrative of a Journey to the source of the river Oxus; plates. An account of the recent discoveries made in Ancient Lycia, being a Journal of a second excursion in Asia Minor, by Charles Fellowes; 2 vols., with numerous plates. The concluding volumes of Manners and Customs of the Ancient Egyptians, comprising accounts of their Religion, Ag. riculture, &c., by Sir G. Wilkinson; many plates, 3 vols. 8vo. Rambles in Ceylon, by Lieut. De Butts; 1 vol. 8vo. A Residence on the Shores of the Baltic, described in a series of letters; 8vo. Journal of Two Expeditions of Discov ery in North-west and Western Australia, during the years 1837-8-9, published under authority of the British Government, by Sir Geo. Grey, late Governor of that country; 2 vols. 8vo, plates. A new work by W. H. Maxwell, entitled "Wanderings through the Highlands and Islands of the North," forming a second series of the "Wild Sports," &c. Jamieson's Account of Travels in New Zealand, Australia, &c. Bright's History of New Zealand, intended for emigrants, &c. Howitt's Visits to Remarkable Places, second series; 2 vols., plates. "The Price of Fame," a novel, by Mrs. Youatt. Elphinstone's History of India, the Hin A new work from the indefatigable pen of Mr. Louden, has been just commenced in monthly numbers, entitled "Arboretum et Fruticetum Britannicum, or the Hardy Trees and Shrubs of Great Britain," &c.: to be completed in ten numbers. A new work on Agricultural Chemistry, designed for the practical farmer, by Chas. Squarey, is just out. Also, The Collected Correspondence of the First Earl of Chatham, in 4 vols. 8vo. We are gratified to find a welcome reception given to the new work by Mr. Dana, entitled "The Seaman's Manual," which was published in London and this country simultaneously. Rev. Mr. Gleig's new work, "The Veterans of Chelsea," and the "Notes of a Traveller on the Social and Political State of Italy, France, and Germany," by S. Laing, author of a "Tour in Norway," &c., is announced as nearly ready. Also a work by M. H. Rankin, entitled "The Philosophy of Shakspeare ;" 1 vol. The Autobiography of Margaret Kingston, edited by Miss E. L. Montagu. "The Etonian," a Tale for Youth, by Charlotte Adams. An Essay on the influence of Welsh tra dition upon the Literature of Germany, France, and Scandinavia, translated from the German of Albert Schultz. The Philosophy of Necessity, or the Law of Consequences, as applicable to Mental, Social, and Moral Science, by Charles Bray. History of the Knights Templars, the Temple Church, and the Temple, by C. G. Addison. Tales of the Moor, by J. Hornly; and a new tale by Miss Martineau, entitled "The Crofton Boys," forming a portion of the series entitled "The Playfellow." Mrs. Ellis has a new work in press, entitled "The Daughters of Britain," &c. Narrative of the late expedition to Syria, under the command of Admiral Sir K. Stopford, with portraits and other illus trations. Five Years in India, by Henry E. Fane. Henry de Pomeroy, an Historical and Legendary Novel, by Mrs. Bray. The Old Forest Ranger, or Wild Sports in India, by Capt. Campbell; plates. Harrison's Garden Almanac and Floral Calendar for 1842. Complete Guide to the Fine Arts, with instructions in Drawing, &c. ; plates. Lay Sermons on the Theory of Christi anity: No. 1, The Fidianism of St. Paul; No. 2, the Argument of Design equal to nothing without Faith. The Ancestry of H. M. Queen Victoria, and H. R. H. Prince Albert, with memoirs and heraldic notices, by George Russell French. A new work on the Evidences and Theory of Christianity, by Lord Lindsay. An Essay on the Moral Nature of Man, by G. Long. Rev. H. Milman's Poetical Works, new edition, 3 vols., plates. How to Colonize, by R. D. Mangles. MONTHLY FINANCIAL AND COMMERCIAL ARTICLE. THE first month of the year 1842 has brought with it nothing to relieve the gloom that has so long hung over the financial affairs of the United States, in the view taken by the advocates of the paper system, and the holders of the multifarious promises to pay, that have of late years been so recklessly put afloat. To men of real capital, the regular dealers and the industrious portion of the community, however, the hori zon begins to lighten, inasmuch as the final overthrow of the pernicious paper system seems to be near at hand. The state of the markets is such that money cannot be borrowed at reasonable rates on the best securities. The different State governments and the Federal government are competing in the markets without providing any addi tional securities, or doing anything to relieve the distrust which has fallen upon stocks generally. The banking institutions that continue to pay specie, are acting upon the only course that will save them, that of self-defence. Their outstanding credits are reduced to the lowest points, and they confine their operations to strictly business paper, at short dates, not renewable. They have, during the past year, been severely admonished, not only of the danger of extending the currency, but even of continuing it as full as it averaged for the year ending in November. The following is a table of the circulation of the State of New York, and the specie held by the banks on the first of January of each year : COMPARISON OF THE CIRCULATION OF THE SAFETY FUND WITH THE FREE BANKS. This shows a curtailment equal to that of the year 1838 in the aggregate, and 33 per cent. greater on the part of the Safety Fund institutions, which then alone furnished the circulation. In the year ending January, 1839, the circulation was very full, and the next having been a year of general resumption under the United States Bank, the inflation throughout the Union was uniform. The result was, those immense imports, mostly purchased with the proceeds of State stock, that caused a re-suspension in the fall of 1839. From that suspension the New York Banks very narrowly escaped, and only by the use of $1,500,000 of New York State stocks, which were opportunely supplied by the commissioners, and on which the leading Banks were at that time able to procure sufficient credit to sustain themselves until the bills drawn against the new crop came forward in sufficient abundance to avert the calamity. In the year 1840, the suspension of the South and West greatly relieved the Banks of New York and New England, by driving in the specie. Throughout the year 1841, the Banks were very cautious in their movements. American credit abroad was constantly growing worse, and the price of our great staple, cotton, fell gradually, admonishing the Banks of New York that, should the imports for the year prove, at its close, to have been excessive, the consequent drain of specie to remit would endanger their safety. With this view they conducted themselves with the greatest caution, and, as the above figures show, their credits were immensely curtailed, not withstanding which, the demand for specie for remittance was so severe in the latter part of October, that there was imminent danger of stoppage. At that moment the pressure was relieved by sev eral of the leading Banks coming forward to draw bills against their own credit; at the same time bills from the South came forward more freely, and the crisis passed; not, however, without the failure of one city bank, and ten to twelve country banks. These institutions, being thus severely admonished, have continued their prudent course up to this time, and now, in the movements of the Federal government in regard to its financial policy, find additional reasons for persevering in the course marked out. The result has been an increased scarcity of money, which for the best paper coinmands 1 and 1 per cent. per month. The value of stocks has of course been affected in some degree by the state of affairs. New York State stocks have, however, been most sensibly affected, for the reason that no positive assurance has yet been given that borrowing will be put an end to either upon her part or that of the Federal gov. ernment, nor any means taken to provide specifically for those already on the market. At the same time, the stocks issued to companies have been pressed upon the market without regard to circumstances. This has resulted in a fall of the State 5 per cents. to 76, of 6 per cents., redeemable in 1862, to 78, and of the sixes redeemable in July, 1842 to 96. The United States 6 per cents. at 95, the orders for the daily pay of the members of Congress at 4 per cent. discount, and the draft of the Honorable Edward Everett, Minister to the Court of St. James, on the United States Treasury for $10,000, discounted in London, has been dishonored for want of funds. This is the present condition of the New York State and Federal government credit, at a time when the resources, real wealth, and general business of the country were never greater or more prosperous. The principal fall of late has been in those stocks which command the best prices. A reason for this may be found in the precarious position of the foreign markets. Opinions have been entertained by leading parties, that as soon as the result of the Mississippi election was known in Europe, followed by the failure of many of the States, giving color to the doctrine of repudiation, that the market may have been seized with a panic which may induce holders of stocks to send them back upon this side to realize for what they will bring. These of course will consist of those that command the best prices. In the present state of the market, such an event would not fail to sink the prices very low. It is the anticipation of this that has influenced the market in some degree, added to fears of a disastrous crisis among the large houses in London connected with American interests, growing out of the immense losses sustained in stocks and cotton. The rapid decline for the particular descriptions of New York State 5 per cents. and 6 per cents. arises from the peculiar circumstances of their issue. They consist of the credit of the State loaned to companies. The law under which they are issued, requires that they shall be sold at auction in the open market, at not less than par for a 6 per cent. stock. This law has nominally been complied with; but $3,000,000 of stock, issued to companies, have been sold or pledg ed at low rates, and then bought in at auction at par. These stocks have latterly been pledged with the Banks, but as the institutions make up their annual reports to the first of January, and being desirous of making as fair a statement as possible, they induced the borrowers to withdraw the loans by obtaining the money temporarily from other parties until the returns should have been made, when they were to be renewed. This was done, and the money procured of individuals. When these loans fell due the Banks declined renewing them again, and the stocks were forced rapidly upon the market, causing those particular descriptions to sell for less than other New York State stocks. Thus the regular Canal 5's bring 75, whereas the 5 per cts. sell at 73. Now the price of a 5 per cent. stock being 75, the equivalent of a 5 per cent. is 82, and as they sell at 72, or 9 per cent. less in comparison, it is clear that some other cause than the general decline in the State credit exists for the fall. The same feature is apparent in the 6 per cents. redeemable in 1862, which are of the same description as the 5 per cents. The wants of the Federal government are undoubtedly those which first attract the attention of capitalists, because it offers the most desirable security. The extent of its deficiency, the manner of proposed payment, and the rate it will yield as an invest. ment, are therefore the first subjects of inquiry. The 6 per cent. stocks, payable in 31 years, as we have seen, cannot be negotiated. It has been proposed to increase the rate to 7 per cent. Such an attempt would without doubt increase the discredit, and, without bringing any more money into the Federal treasury, would render borrowing, on the part of States and individuals, infinitely more difficult. A bill, however, has passed the House, notwithstanding that "no Treasury notes" was one of the most vehement cries of the late victorious party, to issue $5,000,000 of Treasury notes in lieu of so much of the $12,000,000 of the extra session, and this undoubtedly is the best manner under the circumstances of relieving the wants of the department. Before money can be raised to any extent, however, it will be necessary to set apart some specific funds to meet the interest and principal of the debt already created, which amounts to nearly $19,000,000. For this purpose, there is no method so feasi ble as to recall the proceeds of the public lands, and appropriate them to that purpose. In the next place, provision must be made for the ordinary expenditures of the government, in order that the loans may not increase through that means. Under the existing tariff, the revenue from the customs has been estimated at $19,000,000, and the expenses, notwithstanding the cry of retrenchment and reform, will not be less than $32,000,000. The deficiency, $19,000,000 per annum, it will be necessary to provide for, before the credit of the government will have become so far established as to enable it to carry even the existing debt. The credit of all the other States is rapidly falling, under the belief that, however willing individually the indebted States may be, they are unable to pay their debts at present. This has been made fearfully apparent in the failure on the first inst. of six sovereign States to pay the interest due on their respective debts. The following are the States that failed, with the amount of their debts, according to the latest official returns : STATES DELINQUENT IN THEIR INTEREST JANUARY 1, 1842. The failure of Arkansas is represented as accidental. The bonds were issued to the State Bank and to the Real Estate Bank. The latter sent to New York some of its assets maturing in this city in May and June. These were to have been discounted by the Phoenix Bank, and the proceeds applied to that portion of the bonds. The pressure on the market prevented the Phoenix Bank from doing this. The State Bank, it is said, has shipped coin to meet its portion of the interest, which has not, however, arrived. The interest on the State of Pennsylvania debt falls due February 1st, and great fears are entertained of its failure. The stock has consequently fallen to fifty cents on the dollar from eighty in August last. These absolute failures to pay have given point to the discussion of "repudiation," and greatly increas ed its influence over the panic-stricken market. Up to this moment, however, and amid the general conviction that the indebted States are at present unable to pay, no one believes that ultimate payment will be refused. Nor has that doctrine ever yet been actually avowed. Even in Mississippi, the question is not so much whether the debt shall be paid or not, as who shall be the payers. The people assert that the bonds were issued to the Union Bank for its benefit, that the sale was illegally made by that institution, which received all the benefits of the transaction, and that therefore those stockholders, whose mortgages are deposited as security, should be made to pay the bonds, and not the people at large, who have received none of the funds. Illinois and Indiana have heretofore greatly injured their credit by their desperate attempt to raise money to pay their interests. In our last number we gave the details of the transaction by which the Illinois interest was paid in July last. Already has the broker who was the agent in the matter failed, and the bonds been recalled under threats of repudiation by the State. Absolute discredit and inabil ity to raise money have been the immediate cause of the failure of the above six States. This must gradually work its own cure, as it ensures that no more stock from those quarters will be forced upon the market, at least for the present. It is easy to see that this must be finally the case with New York and the Federal government, unless they promptly alter the course they have been running for the past year. Since our last report, the plan for the fiscal agent has been submitted to Congress by the executive, and has greatly disappointed all those who, from the firmness of the President at the extra session, had learned to hope that the more odious features of a Bank would be banished from any plan he might present. The scheme pro. posed embraced the safe keeping of the public funds, an issue of paper money on the credit of the government, the discount of bills of exchange, and the issue of certificates to individuals for money deposited. It is highly improbable that this can become a law. The discounting of bills on distant points is to legitimatize kiting in its worst form; that is, to enable speculators without funds to do business on the credit of the overnment to almost any extent. The experience of the past few years has been |