The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-10-22

a. possible by indirect taxation. II is probable
that for many years after the peace the bulk OF the
national income will have To be raised by direes
taxes. But it may safely be taken for granted that
Congress will raise no move than can be helped by
direct taxes and "a much az can he managed by
the DID, familiar and popular method OF customs
duties If, therefore, the real grievance OF Euro
pean nations be their exclusion from markets which
used 10 consume SlO0, eco 900 per aaa,m Of their
manufactured goods as their letters seem to indi-
eate, the true, The only remedy for them is to try
to bring about a peace here as soon as pos
sihle. That end can only be attained in one
way-namely, by making the South see,
clearly and unequivocally, that neither ITS
rebellion nor its visions of separate nationality
have any chance Of obtaining the countenance OF
Europe. Had Great Britain and France frankly
assured Jefferson Davis in March last that they
would never, ON any consideration, recognise or
hold diplomatic intercourse with nation "based
on the corner stone of human slavery" the South
ern rebellion would have collapsed in thirty days.
Mr.. Lincoln would have now been the respected
President of a peaceful, united people, and this
country would have now been buying stu, 600 ,0c0
per month of British and French manufactured
goods. Whether or it be ROW too late to try
the experiment is a matter for Europe to decide.
We, in this country, have accepted the situation,
and are not seriously distressed ut spending no
more money in British and French Manufactured
goods, or at drawing $50 600 a year in gold
from Europe in payment of our breadstufis. 1t is
for those who cannot endure the evils which this
war brings in its train to attempt to cure them.
The following report was made to-day to the
Board, and will be voted upon tomorrow, and pro-
badly adopted We congratulate the standing
committee upon the task they have in prospect
Trembling delinquents who have been lured into
accepting sixteenth are wondering how many
detectives the committee will employ
Nsw YORK SrucK EXCHANGE, Oct. I, 1901,
Tho committee appointed by tho Board TO report upon
pan for uniform aud regular commissions this day pre-
sented the following resolutions;
Resolved, That member Of this Board shall execute
any order, either to buy sell for less commission
than Of per ccnton the value, except
for bankers or brokers, when the commission shall not
be less tn eighth Of per the par value
solved That any return of commission by member
any arrangement whatever .eby the commission
paid be paid shall be less than that called the
foregoing resolution, IL shall be considered violation Of
thc same,
Resolved That any sitting member may during his alb
ssncc from the Board, employ any other member TO
cute any order without charge but this the
Der doing shall call ont the Of the party employ
Ing him every time he OF s TO bay or sell.
Resolved That 2 standing committee Of three be ap-
pointed by the Ga, whose duty II shall be report TO
ths Board any violation Of the foregoing resolutions which
may tn their knowledge; and that any member
reported shall, upon conviction be suspended less
than sixty days nor more than twelve months at the
pleasure Of the Board, and upon repetition and
tion the party shall be declared longer member OF the
Board, and ever after be ineligible.
Resolved That all articles regarding commissions other
than tho foregoing, be and are hereby repealed.
Resolved That the Secretary be ordered to have
thoussnd copies Of the revised constitution and bylaws
printed for tho use Of the members without delay.
DAVID GROESREGK,1
II. G. STEBBTNS tCommittee,
W. r. vERMILYE,