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is now on board the schooner. Principe is about two days sail from Havana, or 100 leagues, reckoning 3 miles to a league. Sometimes when the winds are adverse, the passage occupies 15 days.

Senor Don Montez was next sworn. This witness testified altogether in Spanish, Lieutenant R. W. Meade interpreter.

them. I did so; but they would not touch it. After killing the captain and the cook, and wounding Senor Montez, they tied Montez and Ruiz by the hands till they had ransacked the cabin. After doing so they loosed them, and they went below. Senor Montez could scarcely walk. The bodies of the Captain and mate were thrown overboard, and the decks washed. One of the slaves who attacked the captain has since died. Joseph was one, two of them are now below. (The boy then went on deck and picked out the two negroes who had conspired to kill the captain and mulatto.)

The examination of the boy being finished, the court returned by the conveyance which put it on board the Washington, and after being in consultation some time, came to the following decision:

Joseph Cinquez, the leader, and 38 others, as named in the indictment, stand committed for trial before the next Circuit Court at Hartford, to be holden on the 17th day of September next.

The three girls and Antonio, the cabin boy, are ordered to give bonds in the sum of $100 each to appear before the said court, and give evidence in the aforesaid case, and for want of such bonds to be committed to the county jail in the city of New Haven. These persons were not indicted.

The court now finally adjourned, having given an order to the United States Marshal to transport them to New Haven.

We left Havana on the 28th of June. I owned 4 slaves, S females and 1 male. For three days the wind was ahead, and all went well. Between 11 and 12 at night, just as the moon was rising, sky dark and cloudy, weather very rainy, on the fourth night, I laid down on a matress. Between 3 and 4 was awakened by a noise which was caused by blows given to the mulatto cook. I went on deck, and they attacked me. I seized a stick and a knife, with a view to defend myself. I did not wish to kill or hurt them. At this time the prisoner wounded me on the head severely with one of the sugar knives, also on the arın. I then ran below and stowed myselfbetween two barrels, wrapped up in a sail. (Here the prisoner motioned for his snuff box.) The prisoner rushed after me and attempted to kill me, but was prevented by the interference of another man. I recollect who struck me, but was not sufficiently sensible to distinguish the man who saved me. I was faint from loss of blood. I then was taken! Lieut. R. W. Meade, Don Jose Ruiz, and Don Pedro on deck and tied to the hand of Ruiz. After this they com- | Montez, are ordered to recognise in the sum of $100 each to manded me to steer for their country. I told them I did not appear and give evidence in said case, before the aforesaid know the way. I was much afraid, and had lost my senses, court. so I cannot recollect who tied me. On the second day after the mutiny a heavy gale came on. I still steered, having once been master of a vessel. When recovered, I steered for Havana in the night by the stars, but by the sun in the day, taking care to make no more way than possible. After sailing fifty leagues, we saw an American merchant ship, but did not speak her. We were also passed by a schooner but were unnoticed. Every moment my life was threatened. I know nothing of the murder of the captain. All I know of the murder of the mulatto, is that I heard the blows. He was asleep when attacked. Next morning the negroes had washed the decks. During the rain the captain was at the helm. They were all glad, next day, at what had happened. The prisoners treated me harshly, and but for the interference of others would have killed me several times every day. We kept no reckoning. I did not know how many days we had been out, nor what day of the week it was when the officers came on board. We anchored at least thirty times, and lost an anchor at New Providence. When at anchor we were treated well, but at sea they acted very cruelly toward me. They once wanted me to drop anchor in the high seas. I had no wish to kill of them, but prevented them from killing each other. The prisoner was now sent to his quarters, and the Court adjourned to the schooner, that she might be inspected, and that Antonio, when making his deposition, might recognise those who murdered the Captain and his mulatto cook.

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Adjourned Investigation on board the Amistead. Antonio, the slave of the murdered Captain, was called beføre the Court, and was addressed in Spanish by Lieutenant Meade, on the nature of an oath. He said he was a Christian, and being sworn, he thus testified:

"We had been out four days when the mutiny broke out. That night it had been raining very hard, and all hands been on deck. The rain ceased, but still it was very dark. Clouds covered the moon. After the rain, the Captain and the mulatto lay down on some matresses that they had brought on deck. Four of the slaves came aft, armed with those knives which are used to cut sugar cane; they struck the Captain across the face twice or three times; they struck the mulatto oftener. Neither of them groaned. By this time the rest of the slaves had come on deck, all armed in the same way. The man at the wheel and another let down the small boat and escaped. I was awake and saw it all. The man escaped before Senor Ruiz and Senor Montez awoke. Joseph, the man in irons, was the leader; he attackad Senor Montez.Senor Montez fought with them and wanted them to be still. The captain ordered me to throw some bread amongst

As we were about to leave, the following was put into our hands by Senor Ruiz, with a request that it might be published in all the city papers:

A CARD.

New London, Aug. 29, 1839. The subscribers, Don Jose Ruiz and Don Pedro Montez, in gratitude for their most unhoped for and providential rescue from the hands of a ruthless gang of African buccanneers, and an awful death, would take this means of expres sing, in some slight degree, their thankfulness and obligation to Lieut. Com. T. R. Gedney, and the officers and crew of the United States surveying brig Washington, for their decision in seizing the Amistead, and their unremitting kindness and hospitality in providing for their comfort on board their vessel, as well as the means they have taken for the protection of their property.

We also must express our indebtedness to that nation whose flag they so worthily bear, with an assurance that this act will be duly appreciated by our most gracious sovereign, Her Majesty the Queen of Spain.

DON JOSE RUIZ,
DON PEDRO MONTEZ.

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STATEMENT OF THE CONDITION OF BANKS.

181

GENERAL STATEMENT

Of the condition of so many Banks as have made returns dated near Jan. 1, 1839, to the Secretary of the Treasury.

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Incomplete. Maryland: No return from seven banks and two branches. Kentucky: Returns embracing only loans and discounts, specie, and circulation. No returns from Connecticut, New Jersey, Delaware, Mississippi, Illinois, Ohio, Michigan and Florida.

1,613,383 691,070 1,345,832 65,680 3,033 5,223,476

5,418,320

481,972 123,159

235,573 109,967

3,686

5,035

History of the Currency in Massachusetts.-We have been for some time desirous of inviting the attention of our readers to the elaborate and useful work of Mr. Felt, on the History of the Currency of Massachusetts, from the earliest times. It contains much information which is not only curious but may be made to afford much useful instruction. We shall endeavour, at some future period, to make some useful application of some of the facts recorded in this work. For the present we cannot give a better notice of it than by copying the following:-Independent Chronicle.

From the Worcester National Ægis.

magistrate and the surveyor of lands were satisfied with good merchantable corn. Contributions to the College, when made in wampum-peage, were purchased by the colony treasurer, in amounts not exceeding £25 at one time. In 1644, each family was ordered to bestow a peck of corn or 12 pence in money for the maintenance of poor scholars.

The stated prices of the products of the earth varied less in a series of years than might be expected. They were as follows:

In 1642 Wheat 4s. Barley 4s. Peas 3s. 4d. Corn 2s. 6d.
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1658

Cattle also were taken in payment, both of the public and private dues.

The office of collector was, at that time, no sinecure, he being liable for the safe transportation of these cumbrous treasures from the various towns to the place of deposite. As this natural money had often to go back in the way of expenditure to the very places from whence it had been taken, it finally occurred to some sagacious persons, that, in many cases, a schedule would be as convenient in the treasury as the actual presence of grain or live stock. Sub-treasuries were therefore multiplied about the country. The constables of the several towns had charge of the portions collected in their districts; and warrants were drawn upon them for public disbursements.

In 1652 the colony made a great stride in finance by the establishment of a mint This remarkable act of sovereignty was defended by the plea of necessity, and was artfully sus tained, many years, under the constant frowns and even prohibitions of the British government. The greatest embarrassments and difficulties that attended the old system led to a constantly increasing desire for a more convenient medium, and great pains were taken to enlarge the stock of silver. Severe laws were enacted against its transportation, involving no less than a forfeiture of the transgressor's whole estate, and searchers were appointed in every port of entry.

The early Currency of Massachusetts.-Few readers of history have been able to follow the fluctuation of the early currency of Massachusetts with any satisfactory clearness of perception. Almost every one must have been conscious of confusion amid the perplexities of old tenor, new tenor, and middle tenor, and felt a desire for a better understanding of them than could be derived from a mere table of value. The Rev. Joseph B. Felt, in a work on the subject, has drawn from the public records of the state, and from other sources, a series of historical facts that exhibit the financial expedients tried at various periods for supplying a circulating medium adapted to the wants of a growing people, and conforming to the exigencies of the times. His account comes down quite to the present period. We avail ourselves of his labours, and some old pamphlets that happen to lie by us, to furnish a rough outline of the state of the currency previous to the revolution, its condition then being, perhaps, the least generally known, yet by no means the least interesting. When New England was first occupied by the pilgrims, coin was exceedingly scarce at home, and great efforts were made to prevent its being carried out of the kingdom. It is easy to understand how the first settlers of the country should have suffered for the want of a sufficient circulating medium, since, having not much else wherewith to pay for importations, the little money the people had brought with them was soon collected and sent abroad for that purpose. The balance of trade being always against New England, while the spirit of traffic was ever disposed to go ahead of its resources, the rising colony was always embarrassed in providing means of payment of foreign luxuries which habit made necessary, and in meeting the domestic disbursements rendered heavy by the constant wars in which they were engaged. Private contracts, at home, were more easily arranged by the transfer of some commodity or article of produce. The want of a fixed and permanent standard for the adjustment of debts, and also some portable representative of smaller values, drove our good fathers into a great variety of speculative schemes as well as odd and awkward expedients.-Having no prominent staple like that of Virginia, where the price of all commodities, (not The mint being established, the famous pine tree coins excepting wives,) was estimated in tobacco, they made use were issued, being made two pence in a shilling less valuable of almost every marketable article as currency. Wheat, rye, than the English coins, to keep them in the country. In 1654, Indian corn, peas, fish, and beaver, were, however, more es- the difference in exchange between our coin and that of Engpecially used as money, while musket-balls, at a farthing | land, amounted to 25 per cent. The old currency, however, a-piece, and white and blue shells at three and four for a penny, was by no means superseded, and country produce and wampanswered, many years, as small change. It is quite a remark-um-peage still found their way to the public treasury. It was able fact, that our ancestors should find among the aborigines, a circulating medium which could be adapted to their own purposes, and be used both in public and private transactions. The manufacture and use of wampum-peage, or shell-money, it is said, had enriched the Pequots and Narragansetts, and given them an ascendancy over other tribes; and as this article was always convertible into peltry with the natives at definite rates, and as peltry was next to specie in fixedness of value, our fathers gladly availed themselves of so convenient a pecuniary substitute. Wampum and beaver, with the articles before enumerated, were the legal and almost only currency of the first thirty years. In these were a great proportion of the taxes paid, by far the largest part being in grain, so that the public treasury resembled the storehouses of Joseph in Egypt, being filled with corn instead of money. The salaries of ministers were paid in the same manner, having just a little silver added to buy such clothing and other articles as must be imported from the old country. The Deputy to the General Court was allowed money or beaver, but the town

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found expedient, now and then, to bribe the king to wink at the assumption of a coining power, by occasional presents. The colony, worried along in this way, always pressed for a sufficient circulating medium to supply its growing wants, till 1686, when a corporation for issuing bills, in the nature of a banking institution, was established. An obscurity rests over this period for want of records, the public papers having been forwarded to London without the preservation of copies here. This bank did not survive the revolution of 1688.

In 1687, a public demand on Hingham was paid in milk pails. The mint had been suspended under the administration of Andros, and was not renewed after the accession of William and Mary. This was partly owing to the debasement of the coin, which the officers of the London mint had reported to be 224 per cent. lighter than the English. Disappointed by the non-renewal of their mint, and burdened with a heavy debt, incurred by an unfortunate expedition against Canada, the General Court now commenced those issues of paper money which continued for more than half a

1869.]

HISTORY OF THE CURRENCY IN MASSACHUSETTS.

183

Kidd, supplied to some extent the specie that was constantly drained off to the mother country. Great annoyance was experienced from counterfeiters, and from the mutilation of bills by cutting them into quarters for change. In 1714, a private bank was started by an association of individuals, without legislative sanction. Its bills, however, were long in circulation, and were in better credit by 33 per cent. than the Province issues. To put down this institution, the government commenced a sort of banking themselves, and issued bills on loan, secured by mortgage of real estate, at an interest of 5 per cent. These loans were from time to time repeated.

century to cause by its fluctuations much confusion, fraud, and the buccaneers, among whom was the celebrated Capt. private distress, and deterioration of public morals. Producers and traders were enabled, in some degree, to guard against the effects of depreciation, by raising the price of their commodities, but soldiers, clergymen, and all depending upon income or wages for support, were often reduced to the greatest straits. During this period, while Massachusetts was flooded with the paper of other colonies as well as its own, all those expedients which are usually tried to bolster up a discredited currency, were attempted by the legislature. They endeavoured to sustain fictitious values by penalties. They commanded and exhorted, and pretended a confidence they did not themselves feel; while old issues were replaced by new ones only to share the same fate, and add increased perplexity The different tenors had their origin as follows: In 1737 to the transactions of trade. There is one point of view in the general court, perceiving that the credit of the old notes which a history of the financial concerns of that period as- could not be restored, resolved to have others made, differsumes a peculiar interest. They led to constant collisions ently expressed. New bills were accordingly issued, set at with the mother government in England, by which a spirit one for three of the old; yet the people passed thein at one of resistance was fostered, and the habit of evasion of British for four. A sinking fund was established for the redemplaws, or disobedience to their provisions, was gradually form- tion of these notes, which were called the new tenor, the ed, which induced both the feeling and the practice of inde- others still in circulation being the old tenor. In 1740 anpendence. The process of training for self-government, can other emission was made in the form of the old tenor bills, be nowhere so distinctly traced, as in the measures pursued payable in one, two, and three years. This was denomiin relation to the establishment and regulation of a currency. nated new tenor, and the other was thence called middle A command to abolish the mint was long evaded by dating tenor. About this time the celebrated Land or Manufacthe new coinage back to 1652. In 1665, irritated by the tory Bank was got up, afterward resulting so disastrously requisition of the king's commissioners on this subject, they to the shareholders as well as to the public. The stock of use this bold language to their sovereign:-" Royal Sir, a just this bank consisted of real estate or other good security, and dependence upon all allegiance unto your majestye according its bill were made payable, after twenty years, in manufacto the charter wee have and doe professe and practice, and tures of the province. have by our oaths of allegiance to your majestye confirmed. But to be placed upon the sandy foundations of a blind obedience unto that arbitrary, absolute, and unlimited power, which these gentlemen (i. e. the commissioners) would impose upon us—this, as is contrary to your majestye's gracious expressions and the liberties of Englishmen, so we cannot see reason to submit thereto."

"Old Charter bills," were those issued previous to the second charter of William and Mary.

In 1742, £4 old tenor equalled 26s. 8d. middle tenor, equal to 2 s. new tenor, the last being 9s. 8d. for an ounce of silver. A contemporary writer estimates the value of an ounce of silver in England, at 5s. 2d. There were besides in circulation, Connecticut new tenor at 8s. the ounce of silver-Rhode Island new tenor at 6s. 9d.-private bills of merchants, issued in 1738, 33 per cent. better than pro-vince bills-another emission of merchants' notes of 1740, equivalent to cash, because paid in silver-and lastly, the bills of the Land bank, payable in twenty years in goods at an arbitrary price.

By a singular concurrence of circumstances the first paper money system was brought to an end just before the commencement of our revolution. The public had become convinced, by experience and the arguments of a few intelligent men, among whom Thomas Hutchinson stands conspicuous, that the integrity of no currency could be maintained unless it was founded upon a specie basis, and The affairs of the last named institution were already immediately convertible into coin. The capture of Louis- in a state of confusion, and a winding up of its concerns burgh happily furnished the means of substituting hard was commenced, not destined to be completed for many money for paper, which, after much opposition, almost years. The climax of confusion seems to have been fairly amounting to rebellion, was fortunately accomplished; one reached. The study of arithmetic must have been deemed pound sterling being paid for ten pounds in bills. Thus as important as the opportunities for its practical applica the way was cleared for a new career of artificial credit and tion were numerous and favourable. We can easily confluctuating currency, into which the events of the revolution soon plunged our patriotic sires.

ceive the perplexity of a farmer, not well versed in compound rules, striving to reckon up the value of his produce In 1699 began the issue of public bills from 5 shillings in the various kinds of money he would be likely to reto 5 pounds, declared to be in value equal to money, and ceive for it. In this state of things, our fathers struggled accepted in all public payments, and for any stock at any on, unable to devise any remedy for pecuniary trouble but time in the treasury. These soon began to depreciate; a continued issue of new bills, in fact aggravating the evil, when Sir William Phipps came forward, magnanimously, but a measure for which the people were always clamorous. and exchanged at par a large amount of the coin which he The causes of existing trouble were the subject of warm dishad raised from the Spanish wrecks. This, however, pro- pute between the friends and opponents of a paper currency. duced little effect. The government finally announced In a pamphlet now before us, printed in 1740, it is argued that the bills would be received in all public payments at 5 with great ingenuity and earnestness, that public bills are per cent. premium, and that they shall pass current as the only thing that can be depended upon as a measure of money. The last command was obeyed only by debtors value; and that the Massachusetts currency had not deprewho had been so fortunate as to make no special contracts. ciated, but that specie had risen, as any other commodity The first provision, however, gave the bills additional credit might, because in America there was not enough of it for for some years. Articles of produce, and wampum, were foreign commerce; and therefore, that a withdrawal of pubstill a part of the circulating medium. The state of the lic bills, or a refusal to issue more, would only add to the currency is well described in an extract made by Mr. Felt, general distress. Nothing but a miracle seemed capable of from the "Travels of Madam Knight." The value of affording alleviation, and that was finally provided in the goods is rated in "pay money, pay as money, and trusting. remarkable conquest of Louisburg. From the proceeds of Pay is grain, pork, and beef, &c., at prices set by the Gene- this conquest the commissioners for redeeming the province ral Court. Money is pieces of eight, ryalls, Boston or Bay bills, commenced in 1750 their labours, and from being in shillings, or good hard money, (as silver coin is called) also the lowest state of credit, Massachusetts soon acquired the wampum or Indian beads, which serves as change." For name of "the hard money colony." instance, a sixpenny knife is twelve pence in pay, eight | The process of substituting specie for government paper pence in pay as money, and sixpence in cash. There was was of course somewhat gradual in its accomplishment. a considerable amount of the pine tree money remaining, After this date it was pursued as a system, and although

new issues were still occasionally made, for temporary purposes, yet they were not made to take the place of a more substantial currency. In 1774 Gov. Hutchinson congratulated the province upon its being entirely free from debt.

We have copied the following memoir in regard to the early history of this place, from the original plan of Pintado, now hung up in the City Hall. Pintado was for many years Surveyor-General of West Florida, and was a man remarkable for his accuracy and research. The memoir may be relied on as strictly correct:—

Iron. The almost universal introduction of Railroads into civilized countries, will greatly increase the consumption of iron. It has already had a great effect in this way. There are at this time, in Scotland, fifty furnaces in blast, five out, seven building, and twenty-six contemplated. In South Wales, 122 furnaces are in blast, seven out, thirty are in the process of building, and ninety are contemplated. In 1740, the annual produce of the kingdom was only 17,350 tons of cast iron. In three years, Scotland alone, it is computed, will produce 360,000 tons; and, within five years, 1,000,000 of tons will be produced annually in South Wales.

Large Claim.-On Saturday last a deed was shown us dated several years before the treaty of William Penn with the Indians. The deed secures many thousand acres of land in New Jersey to the holder of it and his heirs. A few days ago one of the heirs ascertained that this deed was in the possession of an individual who, at the conflagration of the recorder's office about 50 years ago, probably saved and retained it. The heir immediately called upon him, demanded, and obtained it. Suits, we understand, will shortly be instituted for this land by the claimant, who is a shoemaker by profession. Several counties in the State of New Jersey, are included in this claim.—Public Ledger.

"CHRONICLE. The Bay of Pensacola was discovered by Paupila de Narvaez, in 1525. Various adventurers gave it different names-as Port of Anchuse, St. Mary's Bay, but that of Penzacola, or rather Pensacola, which has prevailed, was the true name among the Indians or natives of the country. The first establishment was made in it by the Spaniards in 1696, and its first Governor was Don Andrew Arivala, who made a small enclosure, picketing or fort, called Fort St. Charles, and a church, on the broken ground (Barancas) at the entrance of the port. The French took Pensacola in 1719, the Spaniards retook it, and the French again took it in the same year, and kept it until 1722, when it was restored to Spain. The Spaniards in the meantime removed to St. Joseph's Bay, and in 1726 formed a small town at the west end of the island of St. Rosa, about the present ruined fort, Honey Dew in Ohio.-The Lower Sandusky Whig which was originally made by them, although improved after-says-"This curious phenomenon so inexplicable to many, wards by the English General Haldemond. The establish- has been unusually abundant in this section for the last few ment remained there until 1754, when being partly inundated, weeks; indeed, we do not recollect of ever seeing it more so. the town was removed to the place which it now occupies. Upon examining some leaves upon which this substance It was ceded to the English in 1763, and they laid off the was discovered, we found it very palpable, quite thick, gumtown with regularity in 1765. It surrendered to the Spanish my, and yielding an agreeable saccharine taste." arms in 1781, and since then H. C. M. has possessed it. On the 7th November of the present year, the American army, Death of Commodore Patterson.-The Nat. Intelligenunder the command of Major General Andrew Jackson, en- cer of yesterday says,-" We regret to announce that our tered into said town, and in the evening of the same day and esteemed fellow-citizen, Commodore Daniel T. Patterson, morning of the 8th, the English in the Bay robbed and de-of the United States Navy, and Commandant of the Navy stroyed the forts of St. Charles of Barancas and St. Rosa. Pensacola, 9th of December, 1814."

[Pensacola Gazette.

In travelling through Illinois, from Quincy to Springfield, and thence to Chicago, by the way of Peoria and Ottawa, I did not notice a single swamp large or small; and I cannot recollect, that I saw an acre of really waste land in any one place. But suppose the whole state to contain a million of acres of such land there are then no less than thirty-seven millions fit for cultivation: and by far the greater part of it, of the very best quality. I have not a single doubt, that Illinois alone, is capable of sustaining a population of twenty millions. Forty-five bushels of corn to the acre, is less than an average crop; and with better cultivation it might easily be increased twenty per cent. Put 15,000,000 of acres into corn and multiply it by 45, and see what it will amount to. Put ten millions more into wheat and estimate the average product at the very moderate quantity of 20 bushels to the acre, and it gives you 300,000,000 of bushels per annum. Thus you have thirteen millions of acres left for rye, barley, hemp, farinaceous roots, grass, timber, &c.-Would it be strange, if before the thousand years of the millenium shall have half rolled away, Illinois, with such an extent of territory, and such a soil, should feed and clothe 50,000,000 of people?-Missouri is nearly as large as Illinois, and is probably capable of sustaining nearly as dense a population. And then, there are all the other great and fertile states of the valley, besides the immense unexplored regions, perhaps equally fertile, upon the tributaries, and about the sources of the Missouri and Mississippi.-Dr. Humphrey.

The Journal of the American institute for July, states that last year, a gentleman in the neighborhood of Philadelphia, sold from his garden $7000 worth of grapes. Another in the neighborhood of Brooklyn, L I. sold $1500 worth of raspberries from an acre of ground. A third, in Jamaica, L I. sold asparagus at the rate of $80 per week, during the season for that vegetable. A fourth, in New Haven, sold $700 worth of flowers.

Yard and Station in this city, expired on the morning of Sunday, the 25th ult., at a quarter past 8 o'clock, at his residence in the said yard, after a short but severe illness of about 30 hours."

Unprecedented Speed.-The ship Roanoke, now lying de Janeiro, having made the passage in the wonderfully at Lombard street wharf, arrived a few days since from Rio short time of 28 days. This is a degree of despatch, it is distance being between six and seven thousand miles. believed, unexampled in the history of ship navigation, the The Roanoke is commanded by Capt. George Harris.

Inquirer.

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Rutland Vt. August 6.—Wool.-This great staple article of our fertile mountain State, we are happy to learn, continues to be taken off the hands of the growers at about fifty cents per pound. The proceeds of the wool in this State, if all sold at an average of fifty cents per pound, will not vary much from fifteen hundred thousand dollars. Add to this the probable income from the sale of sheep, beef, pork, butter, cheese, &c., one million and a half more, making three millions.-Herald.

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