Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1865-12-24
LATEST By TELEGRAPH.
The New York CoIlecforship.
Fire in New York.
National Bank Decision.
Provisional Governor Holden
relieved by the President.
Washington News.
The New York Collectorship.
Fire i'm New York.
Washington News.

New YORK, Dec pa fire broke out
this morning, which totally destroyed seve-
raj buildings.
The Commercial says Secretary McCulloch
still continues in the city. 1t is understood
that in consideration of the value of Mr..
Van Dykes services as Assistant Collector.
the Secretary declines to recommend him TO
the President The Secretary's decision
will be received with satisfaction. The de-
sire Is very general on the street that Mr..
Van Dyke should be continued where lie
has been so efficient.
NEW YORK, Dec. 23.-The Treasurer of
the United States addressed a letter to A. T.
Hall, which contains an important decision,
relative to the undivided profits of the ma
tional banks. He says that under the pro-
visions Of the forty-frst section of national
currency have deemed it my duty to re-
quire to be included among deposits sub
ject to the duty of the individual profits of
bank. 1t has been always clear to me that
the profits should pay a duty under this
section. The question might be received
that if they should pay duty as deposits or
as capital, 1t appears to me they were more
IN the nature of deposit than of capital. |
have directed they be so classed. The
duty on deposits and on capital fixed at
the same rate, so it being decided that the
profits were to pay the duty under either
hands would be the same in amount with
the exception of the following: A few banks
may possibly own United States bonds in
excess of their capital, in case the profits
were classed as capital, they would be enti-
tied to deduct such bonds to a greater extent
than they do now with profits classed as de-
posts. 1t is not probable however, that
there are many banks that would be the
gamers by the deficient construction. The
Commissioner of Internal Revenue CONSUMES
the constitution under which he acts, to re-
quire him to obtain payment from all banks
National or State, of taxes on divided and
surplus, and also TO exact fees required by
some act, while it is true the National Chr
rency Act, in providing for sums the annual
duty specifies, that duty shall be in lieu of
all existing acts-it so happens this provi-
sion is not applicable to the Internal Reve-
nue. Act, which become law subsequent to
this passage Of the National Currency Act.
Idesire to state | have heretofore on sew
eral occasions, had an opportunity to say
both verbally and in written communications,
that In my opinion, public policy equires
the surplus funds of bank to the extent OF,
say 20 per cent of the capital, should, under
certain circumstances. be exempt from all |
duty. This view, | am pleased to know,
has the concurrence of the Secretary of the |
Treasury, of the Commissioner Of Inter- |
nal Revenue, of the Comptroller of Currency, !
and of gentlemen in Congress who have |
given the subject their attention. 1t is pro- /
posed, therefore, by the Commissioner of In
ternal Revenue, and by myself that at some |
early period of thesession, a meeting be beld |
of officers named in connection with men, |
bers of the Committee of Ways and Means |
and of the Committee on Banking and Cur |
rency, of the House of Representatives, be- |
fore which Committee any matters relating
to the banks WILL probably, come for con- !
slderatlon, and 1t is most likely that the re-
suit of such consultation will be the rec
omendatlOn to Congress, and the probable /
adoption by 1t, Of a provisional exemption
from duty or tax. Surplus funds to the ex-
tent named, or at least to such an extent as
will greatly strengthen the banks, by encour-
aging the accumulation and retention by
them of the surplus, and in regard to the
matter Of daily settlements, l can only say
that the present requirements were adopted
by the Internal Revenue officers and by this
office after full consideration given to the
subject, and that the method of making re-
turns of deposits required by both officers,
that Is the balance on hand when the |
banks are closed for the day, has been
deemed equitable and Just.
New YORK. Dec. 23-The Times Rich
mond correspondent says: Notwithstanding
the distressed condition of this section finan-
cialiy, there is a general heartfelt wish that
our Government should become embroiled
in foreign war. This wish finds its origin
in certain class in the heartfelt longing for
IN opportunity to wipe out the disgrace now
attached to them on account of the rebellion.
There are men who held high offices in
.he Confederate army who would willingly
enter as privates under the old flag in the
,ase of war with France or England. While
to acknowledge it publicly,
majority of the people of the South feel the
disgrace which attaches itself to the name
If Rebel or bitterly regret their folly in
orming for themselves that of traitor. To
rec themselves from this imputation, and to
put themselves again ION lead with their
northern brethren, they are willing to do
lnything
SAN Francisco, Dec. 21.-Advices from
Mexico state that revolution against Max
milan had taken place. Lopez and his
officers had driven him from power
Boston, Dec. 23.-Edwin Booth and ].
J. Clark have leased the Boston Theatre for
he ensuing year.
WASHINGTON, Dec. 23.-The Secretary Of
State has, by direction of the President, adj
iressed letter to Provisional Governor
Holden, of North Carolina, relieving him
rom his trust at present. The President
acknowledges the fidelity, loyalty and dis
,retion which has marked his administra-
ion in the affairs Of that State.
COLUMBIA, S. c., Dec. %.
Ion. W. II. Seward, Secretary of State:
The Legislature adjourned yesterday at
loon. Governor Perry had returned to his
home in Greenville. Your dispatch has been
orwarded to him by mail. 1t will be very
gratifying to the people Of South Carolina,
hat her Government has been entrusted to |
'fficers Of their own naming. In their name
thank you for tender of cooperation of the |
government of the United States when found
necessary in efecting the early restoration
nd permanent prosperity and welfare of the
state. You may be assured Of my purpose
o aid in upholding the supremacy Of the
United States and in advancing interests and |
prosperity Of the country.
n tt JAS. J.. ORR,
~ Governor Of South Carolina.
/