The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-07-03
Probable Acceptance Of the once
Of Secretary Of the Treasury
by Mr.. FesSenden.
Withdrawal OF the S33, 900, 600
Loan.
Indications Of the Inauguration Of
New Financial Policy,

wAsmxGror July 4, 1894
First Assistant Secretary OF the Treasury Hsrrngsss
has been appointed BY the President Secretary tnt
Up to late hour evening Mr.. Fessepden had ~
accepted the office Secretary Of the Treasury b.
has not declined and is understood by his fenas
that ne will accept Ho has not been In his In shs
Senate to-day. His felo1 Senators OF hh
acceptance that Senator Wade has taken ssessioa Of
Mr.. Fesscnden's The fact OF his delaying TO aay
that he declines the honor proposed to conferred 10
regarded convincing evidence that be will accept.
Senator Fessenden had long interview with President
Lincoln to day.
Messrs. Pruyn, Ganson and odsll, among the demo
cratic members OF the House, called upon Mr. Fesseoasa
yesterday, and urged mis- acceptance OF tho Treasury
portfolio. They assured him that It would give satsAs
on to the democratic party generally and that nonA
nation could be made which would give them more
confidence In the administration OF the financial a
tho government. Tho Kentucky delegation also called
upon him for the same purpose. These manifestations
confidence and good feeling very gratifying him.
and largely contributed towards inducing to acosyt
tho appointment
Tho notice for proposals for the loan Of .hrtythrss
millions, being the OF uuaccepsd uader ~
former soventy-fve millions advertisement, is With
drawn and the proposals received will be returned r.
those VINO offered them.
NorloE
TREASURY APARTMENT, July 2. ] 0oA
Tho notice for proposals for loan dated June IS 1894
for thc thrtyhfe millions Of dollars, being The amount
OF unaccepted offers undor the not0e dated 9th OF june
Is hereby withdrawn. All proposals az the Department
will be Immediately returned to the oferers with ~
be refunded GEORGE HARRINGTON,
Acting Secretary o the Treasury
The additional Tax bill Ia still In aboyance Both tbs
Senate and House c.mmttees 20 any furtbw
taxation, but willing IL the secretary requirs
1t, TO bring in bill to raise additional revenue. -
stated that dispatches bean received from oapA
iofa nf Enoia (,anc To ah0
tiona revenue before adjournment
The additional tax bill, providing for Q special poomA
OF Ave per cent all incomes over six hundred dol
lars TO be levied October 1st being Considered
tho House IN Committee Of the Whole great nsAy
amendments are being offered most Of which an
voted down. Mr.. washburnes amendment, imposras
tax Of Afty cents gallon whisksy
hand which has paid no tax, and OF thirty cents -
that which has already been taxed, adopted
mttee BY large majority The adjourrment Mcpday
depends upon the passage Of the bill, Mr. Morrill, 0. vss
mont declaring that Congress will have TO remain In
sion, and IA lett without quorum, meet aud adjourn
from day TO day until satisfactory action IL bad
In providing additional revenue for tho govornasoA
although personally he is oonadent thai The
already adopted viii produce adequate AmoapA
The Secretary Of tho Treasury requires that this
other measure, shall be adopted insure sound
condition OF the national lnances 1t s estimated tAse
the Eve per cent tax will produce seventy millions q
dollars which will be aired to pay bountes undcs VA
Enrichment act,
The compan OF the exsecreary OF the Treasury
lion. p. Chase which he sent TO the Committee Way
and Means the 10Th OF june says Tho aggregate
revenue from all sources. for the year closing with the
Soh ultiIro. reached hundred and forty two mik
lions OF dollars.
The expenses, excluding two months pay Of the army
due July were eight hundred and eighty millions d
dollars
The amount In OF the therefore sin
hundred and forty millions Of dollars.
Tsksug the highest amount estimated, and assuptpo
that tho miscellaneous receipts will roach ,hrty-nvs
millions OF dollars, the whole amount Of revenue fcv
the next year caunot BIO set down al thAa
three hundred and eighteen millions.
The expenditures likely to reach eight hundred ana
nifty nhioas aud four hundred and Afty millions
be raised by loans.
The loan bill provides for only four hundred mioes,
and ;ba, the largest which, In tho judgment OF ~.
Chase, eau DO reasonably attempted
There remains then eighty millions to DO PROVIDED
Tor and all considerations OF public interest seemed
him require impcrativey that shey DO raised by IN
Increase OF revenue.
He therefore, proposed the deficiency BELIEVES
that the changes proposed by him would produce 10
difference bstwecn tho rate incomes by the old and
bills added TO the tax OF the coming year. zoe,
leaf tobacco, 81 900 000 Increase n smok
Ing and chewing tobacco So ooo increase
malt liquors. 81 900 o0o dealers sales So 900,
tax spirits on hand, %, 600, 900; sod the smoust
not increased but brought from the into the
rent year, ooo 0oo making aggregate Of asts
virtual Increase Of $S5 ,00o, 600.
-