The number of vessels which entered the port of Ham burgh in 1791 was 1484 ; and the value of the imports, for the same year, amounted to 112,554,026 livres, or about 4,689,751/. sterling. After the raising of the blockade of the Elbe, the number of shipping which annually entered the port was calculated at from 1900 to 2000. The num ber of vessels belonging to the merchants of and employed by them, amounted to about 400.
The bank of Hamburgh was established in the year 1619 upon the same principles with that of Amsterdam. It was intended as a general fund for the convenience of the mer chants, who, by means of this institution, make and receive payment, without the intervention of specie, by a mere transfer in the books of the bank. The specie deposited consists of bank dollars and ingots of silver. This specie has no ordinary circulation ; consequently the fund always remains entire; and the money of the bank thus serves as a standard for measuring the value of all other specie. The bank closes every year, from the last day of December to the 14th of January, for the purpose of balancing the books. It is under the direction of four of the principal persons of the city ; and no person is entitled to have an account with it, who is not either a citizen or an inhabitant. There are two kinds of money at Hamburgh ; real money, and mo ney of account ; the latter being partly real and partly imaginary. The mark lab. which is equal to about 1.9. 6d. of our money, is divided into sixteen shillings, and each shil ling into twelve fennings, or pence. The rix-dollar con tains three marks lub. It is called the rix-dollar current, which must not be confounded with the rix-dollar of the bank, the latter being more valuable, and equal to about 4s. 10d. of our money. In general, the money of the bank is worth from 15 to 20 per cent. more than the current mo ney, and the difference in exchange is called agio. Besides these, they have gold ducats, current at seven marks, more or less, and double ducats at fourteen marks. Foreign gold is also received at its intrinsic value, according to the rate of exchange, which is regularly advertised twice a wcck. The bank receives payment in its own money only. In the year 1725, the magistrates of Hamburgh resolved to coin seine new specie, which is called the new current money of ilaini,urgh, and consists of pieces of 1 and 2 marks, of eight shillings, or half a mat k, four shillings, or a quarter mark, and several of smaller denomination, conformable to the standard of the old dollar. The agio for this specie, in
exchange with the bank, was fixed at 16 per cent. A new bank was also established, at the same time, for the conve nience of the town, which could not receive any money but that coined in the city, the agio being regulated by a com bination between the two banks. By these means, busi ness is conducted with more ease and regularity, and the merchants are not liable to loss from the difference of value in the several denominations. The usance, or course of exchange, is at fifteen days sight, for hills drawn on any part of Germany ; a month's date, for those drawn on France or on London ; and two months for those drawn on Venice, or on Spain or Portugal. There are twelve clays of grace allowed, including the day of the bill's falling due, the Sundays, and holidays.
The chamber of marine insurance was instituted in 1705. Six of the most wealthy merchants provided a fund, which was divided into 500 actions, or shares, of 1001. each ; and the business has been conducted with the greatest success. There are also establishments for the other species of in surance. In the Lombard, or town pledge house, money is advanced, at an interest of six per cent. on every kind of goods and merchandise, without the intervention of a bro ker. When the time during which the sum was lent has expired, the goods must be redeemed ; otherwise they are sold for their value, and the excess is faithfully transmitted to the person to whom they belonged. By this institution the town is said to gain about 150,000 crowns annually.
The police of this city is admirable. There are few or no beggars in the streets, as the magistrates take care to employ the indigent, who are able and willing to work, in the manufacture of knit-stockings, and to send all vaga bonds and sturdy beggars, who refuse to work, to the house of correction. The few who are incapable of labour are maintained by their respective parishes. The establish ments for the poor, indeed, arc no where more liberal or better administered than at Hamburgh. They have a very large hospital for orphans, which possesses a revenue amounting to between six and seven thousand pounds. There is also a large hospital for the reception of poor in firm labourers, and another for aged and disabled seamen; besides many smaller institutions for poor widowers and widows, &c. ; with two houses of correction, the Zucht Haus, and the Spinn•Haus, in which malefactors are kept close at work, with a spare diet.