ticularly to that class of loans which are at once the safest and the most useful; the discount of bills of exchange. With these means, the bank has been enabled to extend its operations in both foreign and domestic exchange, in such a manner as greatly to enhance the profits of its business, at the same time that it has afforded facility and security to the commercial transactions of the country. As an illustration of the progress of this branch of business, the most valuable to the bank, as being the great auxiliary of its circulation; the committee remark, that the amount of domestic exchange purchased by the bank, in the year ending the 1st of July, 1828, was $22,084,222, on which the profit was $451,203 17; whilst the profit on the purchase of domestic exchange in 1822, was $95,240 25; and thus it appears, that the profit on domestic exchange has increased to an amount so great, as considerably to exceed all the expenses of the bank.'

To exhibit the effects of this system, the committee present a comparison between the existing state of the banks as mentioned above, and that reported by the committee of stockholders in October, 1822.

State of the Bank, August 30, 1822.

Making a total increase of $16,190,748 90 As a result, it is seen, that the net profits of the bank for the year ending on the 1st of July last, were $823,212 99 greater than in the year ending on the 1st of July, 1822; and $979,789 30 greater than the average of the three years preceding the first of July, 1822. This comparison will be more striking, if made between the semi-annual periods of the first January, 1823, and the first July, 1828, presenting an improvement in the resources of the bank of upwards of $21,000,000, and an increase of circulation and deposits of more than $16,000,000.

STATISTICAL VIEW of the COMMERCE of the UNITED STATES, exhibiting the value of Imports from, and the value of Articles of Exports to, each Foreign Country; also, the Tonnage of American and Foreign Vessels arriving from, and departing to, each Foreign Country, and the Tonnage belonging to each Foreign Power employed in the Commerce of the United States, during the year ending on the 30th day of September, 1827.

581

STATISTICAL VIEW of the COMMERCE of the UNITED STATES, exhibiting the value of every description of Imports from, and the value of Articles of every description of Exports to, each Foreign Country; also, the Tonnage of American and Foreign Vessels arriving from, and departing to, each Foreign Country, and the Tonnage belonging to each Foreign Power employed in the Commerce of the United States, during the year ending on the 30th day of September, 1828.