New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-02-03

TIE business Of the Sub-TToAsury was: hecc'P"'
s2.9sS,Iej I5--for Customs, sl95,OlO; Payments
81 $50, 454 36; Balance $7,1O6,G)o 10. -.
Tie Michigan Southern Road rePort' It's ou'''e''
for the year ending Dec. ], 1862, az iollo"S'
EARv1Nea &, eco OF 81
receirt, from freight 1888 30
From Pss'engets. ,tstice account. S" =
''''' ''' '''''' ''''''| ..........S2,5i0i5 as n
ACKNOWLEDGEMENTS
Expenditure for repairs Of road F s5jfiI %
TeIfairs Of engine aad cirs''''''''' III 40 "a
1,' oDe,,ting ex Se9 eIql6 282 10
. T,nnn I!tnres for consrnetioh''''' A'i' -
.................sI,35 al13 %
/ Ropg,i debt. ........'''''''''''+ So 80 Al
A. Observation-Disclosures t 2il6 l6-Sl o9StSo 81
,rr,r.n. balance Dec /. Ise2.........." $685." -
According to the above statement, this road earned
y cent on the Preferred Stock, after SEA 10 Ia
peyment Of floating debt aud $500, O3S in rePnlrs OF
rad and eQupage. If the road had been ont oil
debt ut the opening of the year, as it Is now the net
earnings would have paid the Preferred Stock divi-
deDd Of 10 y cent, and LETT c Y cent for the Com
mon shares.
The Gold speculation reCeiveda check to-day, and
large parcels came on the market for reAIiza-
ton. Tie reported action Of the Senate u N the
Finance bill alarmed some operators, who fastened
to get ont of the precious metal. After selling at
Isl in the street, it was 1873 0l5sl at the Board,
but sold later in the day at 1861. against 1881 on Sat
urday. Custom-House Notes were also lower, sell
ing st 154,, down to 1884.
The Oriental Bank has declared remi-annnal
dividend of y cent, payable on the 10th inst The
Ocean Bank "a dividend Of 81 Z cent, free OF all
Government tax, payable on the 10th met. The
Beckmau Fire Insurance Company have declared
seuii-aunual dividend Of = cent, payable on de-
mard. The Irving Fire Insurance Con pany SEMI
annual dividend Of = cent, payable on demand,
free Of all Government tax. The Brooklyn City
Railroad Company has declared a dividend Of 2
cent without tax, pay able on demand.
The Erie Preferred Stock dividend ia payable on
the l7th ms. The books close TO to-day and reopen
on the Eth February. We bear, that the earnings
for this month are larger than ever before koown.
The Hudson Rive. aud Central earnings are also
enormously large.
The exchanges ut the Clearinghouse we're The
largest ever made there in single day-sOi,s-J,-
$50 Il.
Some timid parties are boarding City and State
Bank Notes and they have been sold today Is high
as per cent prem, payable in greenbacks. BENZ
partly secured by New-Ycrk Stocks in addition 10
tic responsibility Of tie banks they arc considered
by some persona as safer than Government promises.
Massachusetts Skies are selling at Boston at l55
q 1876.
The money market is active and the weaker
class Of s;ocA houses find more difficulty in obtaining
loans The leading houses find abundant means at
sac y cent, while other parties pay cent freely
with large margins. Tie banks are not lending
freely.
According to the estimates Of Commifsiouer Bout
well. the internal revenue viii fall short one hun
lred and fifty millions for lie current year, Which
proves that the trainers Of our preseu, Tax b made
their calculations upon an erroneous basis. In The
original bill many articles Of traffic AID branches Of
trade were inordiaately taxed, as is abundAnlly
royed By the food Of petitions for reductions which
are daily filed at the Department at " Washington.
These remonttrauces will be hee-ed, and in many
cses favorable response will be given. TIE quc--
lion now is, how this deficiency il to be made up.
The everyday necessares Of life ago already taxed
10 high as TO render tie ordinary wages Of tle labor
inp classes entirely inadequate 70 the support Of tAeir
families In al large ciues Toe different trades nave
demanded, and in most cases received, IA increased
amount for cir labor Such Icing the fact, the
Injuries Of life must be made 20 bear the extra TX
and 10 that source tie Government must lOo6 fUT
he means replete the Treasury. AZ the LAST
ion Of CongcE8 Mr. Secretary Glaze recommended
and urged a levy Of g per gallon Oh spir,f, aud =
per pound on tobacco, but the bill cid not pass.
We think Mr.. Caaee was correct in his views,
and are glad 20 see the subject again brought
no good reason why tie bill should not pass By q
unanimous vote. The above named tax upon those
two articles Of Almost universal luxury viii be from
30 20 100 q cent less than they are taxed in any
country Of tie Old World. Leaf Tobacco Should
also be looked after. Last Winter it was proposed
to lay tax Of three cents H.. why not raise !,
10 ten There is 10 good reason WHY tho Border
States should not bear their proportion Of the
nous burden which the war Las brought upon The
North. France for instance has assumed the mon
opoly Of all the tobacco consumed within her limits,
and from that source gathers al mmense revenue;
while from the duties on her brandies and wines
stupendous income is realized. We urge upon Mr.
Stevens Of the Committee Of Ways and Means to
press this matter at the present Besslon, confident
that il will prove sure and wise measure, csitain
TO replete the Government coilers. Let Spirits and
Tobacco DO largely taxed We feel assured the
country viii ratify tho act. Tax these articles,
purely Of luxury, and If the tax should reduce the
consumption, ono good end at least will have been
attained
The Aus,ralasian brings adyices from England to
Jan. II. TIE London Econ0mia says:
Al the meeting Of tho Bnnl Directors yesterday It W., de-
cideI 10 advance discount to y The
p Of the Bank Of france, since the otufu pubbed at
k youId spopar 10 have become Etil sts sstiacofy
II, ~ received here early IN t1e morning Of Ihurdy,
ba rise T. q cent had been adopted ny tunt efts3lsh-
,reut THO i,hdrnwals Of bullion ffom the Bank been
Ihia week end aI.o LnouAts have been sent 10