’We propose to give the leading events of each year, from 1844 to 1861, referring the reader to authorities where more copious information can be gained by those who wish to study the invariable connection between commerce and money.

’The bank shares in the depressed period of 1847-8 fell to 180, after having reached, in the flattering times of 1844-’5, 215 per share, or 115 per cent. advance.  Consols, at the same depressed period, fell to 78-3/4, when starvation stared Ireland in its face, and the bank simultaneously sought protection from the Cabinet.’

Attention has been recently directed in this country to the premium on gold, or to the alleged fall in the value of bank paper and Government notes.  Although the premium on gold as an article of merchandise has reached a high rate during the present year, it will be seen, on reference to the reliable tables in the History of the Bank of England, that a great difference occurred during the suspension of the bank in 1797 to 1819.  Gold at one time (1812) reached L5 8_s._, a difference of 30 per cent.  The annexed table shows the changes from 1809 to 1821.

YEARS                   |Price of    |Difference| Nominal  |Amount in
|Gold.       |from Mint | Taxes.   |Gold
|            |prices.   |          |Currency.
------------------------|------------|----------|----------|

----------
| L s. d.    |per cent. |   L      |    L
|            |          |          |
1809,                   | 4 9  10    | 16-1/3   |71,887,000|60,145,000
1810,                   | 4 5   0    |  9-1/10  |74,815,000|68,106,000
1811,                   | 4 17  1    | 24-1/2   |73,621,000|55,583,000
1812,                   | 5 1   4    | 30       |73,707,000|51,595,000
Sept. to Dec. 1812,     | 5 8   0    | 38-1/2   |   ...    |   ...
1813,                   | 5 6   2    | 36-1/10  |81,745,000|52,236,000
Nov. 1812, to Mch. 1813 | 5 10  0    | 41       |   ...    |   ...
1814,                   | 5  1  8    | 30-1/3   |83,726,000|58,333,000
1815,                   | 4 12  9    | 18-8/9   |88,394,000|66,698,000
1816,                   | 4  0  0    |  2-1/2   |78,909,000|72,062,000
Oct. to Dec. 1816       | 3 18  6    | under 1  |   ...    |   ...
1817,                   | 4  0  0    |  2-1/2   |58,757,000|57,259,000
1818,                   | 4  1  5    |  5       |59,391,000|56,025,000
1819, 4th Feb.          | 4  3  0    |  6-1/3   |58,288,000|54,597,000
1820,                   | 3 17 10-1/2|   par.   |59,812,000|59,812,000
1821,                   | 3 17 10-1/2|   par.   |61,000,000|61,000,000

The increased volume of Government and bank paper afloat in the United States since the 1st January, 1862, is conceded to be only temporary.  The Government is engaged in crushing the greatest rebellion known to history; in doing this, the national expenditures