Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1863-12-24

a'e ''a OIL a duty OF 2 "a per can,
year on corporate note circulation e'a'
The proposition oonlemplates d,,
one-hlth OF one per cent per mo.,
circulation, and the secretary suggest, W
addition one-twenty fifth Of one her s.' u
on deposits IN each month, making ,vsls'
twenty-tlths year. Under the sv;sG'"
law, the duty on circulation Is ona
cent year on certain proportion IVA
per cent on amounts exceeding that NJ.
portion, and one.teurth of one per csn NV,
deposits. The small addition nrono..s
will not be regardet as unreasonahIs "
onerous, when IL is considered tha, N
corporate circulation is in fact a loan \.
the people to the tanks without cost y.
cepI that OF preparation, and withont /,
terest except the duties imposed on \
The whole question then resolves it,els;,
to this sis the duty proposed, added !.
the state taxation and the cost of pren,,,
ton, more than equivalent to "A iair ip,s,
for the loan? If not, surely 1t should i.
paid without demur as reasonable can
tnbuuon to the common welfare.
The duty proposed ON deposits is mu,E
lighter for obvious reasons. Its wbos
amount is less than one-half of one ~
cent per annum, and being in the natSr
of tax on profits rather than on prona,,
", will distribute itself among al ",
partake Of the benefits of the deDogn
and press hardly on none. II is prono,
ed to make the duty payable in small pe,
centages, because it will be thus dRtrbp,.
ed over the business Of the year, and h
cause, by requiring mouthly returns Il
circulation and deposits with Reference
to the duties, information will be regl,.
ly obtained in respect to the amour, a
circulation of all descriptions IN the whS,
country, the publication of which Wills
an important benefit to all men Of bus
ness, as well AS valuable guide to fus
cial legislation and admiuistrada
Monthly returns are now required Of may
of the national banking associations, s,t
should be required of all and from then
as well as from the banks not organized
under national legislation, should b. n.
quired fair contribution TO the general
burdens of the people.
The secretary refers to Congress i,
question whether the duty on national
currency and the deposits of natOal
banking associations shall correspond wiz
the duties on other circulation and depos.n
He thinks tina. for the present, at least
some discrimination in favor of the ns
tonal associations may be properly admit
ted in consideration of the INDISPENSABLE
Importance of national currency, not
adapted only. like United States Boies, to
temporary emergencies, but permanent Ia
its very nature, and adeqNsss 70 ~ %
mands Of business, and capable al no US,
tant period, of being made equal 70 a1t
convertible into coin, and therefore 10
real representative and equivalent
The operations of the mint have tti
of less Importance than usual durgt
last year. The amount Of coinage IA
increased over that Of last year al ~
Francisco alone. The value Of the ba
lion received was S4,S24,l0l 81 in 90
So, I59, 495 IL from the total Of whi
must be deducted the bars made at Q
. branch and deposited for coinage at anoi
err, making the actual amount deposit
1913, 1887 81. The coinage Of 1
wear was S24 ,6SS All II: Of wis
$50, Cos $50 was gold coin ST ,o49,S'
90 gold bars 81 ,l74,o92 so silver con
$500. 204 ~ silver bars and S47S,S
, ia cents. Of this coinage 81, lS4,4E
in 9,10S, 402 pieces was effected 4
| Philadelpnia Sl8, 55l 1913 6S 10 2@2
: ITS pieces at San Francisco anas2, ISL
= G42 81 in 3,404 gold and silver bars
t New York.
a There have been inspected during y
: past year 933 steam vessels, values y
| Sl0.l35, 05T 900 with an aggregate I'd
n age of 405 900 tons, which have esT ]!
/ for shorter or longer distances, 6,iGg"
: passengers.
h The secretary invites attention % =
e suggestion Of safe system Of signaAq
N sounds sounds and Lights, adapted TO ;is u.s.
= steam vessels, whether in the rnereasn'
y national service, and which may peraai
e. be extended SO as to embrace sallln5 v
.e sells also.
Ia / The secretary cannot omit the eSps
= sion Of his cordial appreciation q
e zeal, intelligence and fidelity which .
! officers of the department generally " Y
l. brought to the discharge of their ssa
l. duties. To their labors he senslbly y
,e and gratefully acknowledges that D
indebted in great part, for the measure
it success which has attended its admins
to ton. Still less could he excuse MN
Il should he omit to say how distinctly
IN recognizes, on looking back through
Fl year, the token of that Divine froViae
is which has led our country through "
< of every kind. How steadily anu e. y,
n, ly under that benignant care, inc IN N,
IN Republic has moved on. How cohnl.s,
pe NAV we trust its future to the same WV
$ guidance.
MS Nor ADVISABLE. The Troy Pres ="
nc tains an advertisement Tin the SHAPE :"
communication) advising invesfinen