The republic. [volume] (Washington [D.C.]) 1849-1853, 1853-03-29


highly lauded in sundry Locofoco organs of the
s'smal beer' sort. These little papers, it is true
don't know what they are talking about, but they
have with asthmatic tone decided that Mr.. Guth.
rie's reversal of Mr.. Corwins order is terrible
death blow to Galphinism. If little folks would
only get some persons to give them some informa
ton before they take up their sparrow quill penl
! to abuse Wings, they would probably write non.
the worse for it. But such people are apt to pusl
off into unknown seas, and there, in the fog tina
surrounds them, they can see nothing as it actu
ally exists.
When Mr.. Robert ]. Walker was Secretary O
the Treasury, an act was passed providing that
| public appraisers should assess value on import
| ed articles ten per cent greater than the invoic
price, the invoice value should be held to be fraud
ulent and there should be added to it the difference
betweenthat and the true valuation, and in ad dito
twenty per cent. by way of fine or penalty for tn
fraud attempted to be practced by means of tn
invoice. Under the general law applicable to sucl
it is provided that one-half of the fine shall
| 60 to the collector, naval officer, and surveyor
| and the other half to the Government.
! Mr.. Walker himself took the view of this act
! that Mr.. Corwin subsequently took. Mr.. Mere.
Mr.. Guthrie has taken. Now the question is this
which of the parties has put the right construction
on the act! Mr.. Walker and Mr.. Corwin are on
one side, and Mr.. Meredith and Mr.. Guthrie on
tue OtucT. SoIWlu TeSlSteQ w alRef .
construction of the act, we understand, until the
Attorney General said that the law required that
| custom house officers were entitled to half the
amount of the penalties to which we have alluded.
What "Galphinism' has to do with such a ques-
ton we cannot see. But Locofoco noses are be-
stridden by queer spectacles, and their eyes can
see 9 range things. They never could see Swart-
woutsm, notwithstanding its hugeness, while of
phinism''-a word that, as used by them, seems to
have as many meanings as some of the most or
phic passages in Mr.. Pierces Inaugural.
Louisville Journal
INCREASE OF BANKING CAPITAL IN MAssAcHu-
sETTs.-Mr. Kellogg, chairman of the Banking
Committee of the Legislature, made report yes.
terday upon the numerous applications for the
increase of bank capital which have been made to
the general court. The report of the committe e
to be an. able document.
. The committee were asked to increase the bank
capital of the State l7 1895 900. OF this increase
Boston asked alone S Il, 450, 900, and with Cam.
bridge and Roxbury, asked for II, $50 OOO, leaving
$3345, 900 for other localities. The committee
have granted $b,050,0Q to Boston and vicinity,
out of the 1880 900 which they have reported Ia
full. Five new banks in Boston have capital of
$2,70O, 900. The names of the five are-the Web
ster Bank, capital S SOC, 900; Eliot Bank, 1900.
600; Howard Banking Company, $500 GOO; South
Boston Bank, 500 900; National Bank, s SOC, 900.
stock of the following Boston banks: BoyIston
Bank, $50. 600; Mechanics Bank, $50 900; BLACK.
stone Bank, 100000; fremont Bank, 1850. 900
Grocers' Bank, 5000, 900; Shawmut Bank, 1885,.
600; Freeman's Bank, $4,000; North Bank.
$l50, 600; Eagle Bank, $500 900, Bank of Com.
mere, s 500 600; Granite Bank, $l50,00O; Union
Bank, 100000. @'. = 'sy-'--r>'-.
The following section, incorporated in all the
bills where increase of capital is granted, will
have the effect in some instances to prevent the
increase of the capital of some of the banks, as
many Of the large stockholders, including the
officers OF some of the insurance offices, are on.
posed to increasing the capital: @1
Z" If any Of the stockholders of said bank remon.
strate against the acceptance Of the additional
capital herein provided, the said renlonstranca
shall be made in writing before the first day
Of July next; and if the persons 60 objecting lie.
gally represent onefourth part of the present can
ital stock In said corporation shall not be entitled
to the benefit of this act" IS -
- ..'.'''7@ Boston Transcript, 25th.