The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-12-11
FINANCIAL AND cCMMEhc CO

AMMAN Dec 10, 1906.
.,asiug and sventfal one r
ne past week nss c,gress and the great and uni
swns 70 INC n'es 80, !, the Presidents Aessas' -.
vessai n'e'' ~. secretary Of the Treasury
~, -. .nese documents were .vs |
-. - wan street, their innoeh'' .pN .on.sarv
=. .o,omercia affairs was se'' :. Gold ad.
-.,osd 10 I4sH on ruesuas' ,,ssr the belief
thai the hesSSso letter @ers threatening than
m proved 70 % ~ N Mexico and the Monroe
Doctrine, and shen uh heavy sales by the subTreas
ny, decaed io i4S% on Saturday but the stock market
ssowed no pernrbao'a The government sales Oh com
between wednesda morning and Saturday AFTERNOON are
estimated TO hay aggregated over four m'ons lney
were doaptle IS made for two reasohs'-name's op'o
duce favorable effect following tho Message and
Treasr - ,anort 10 be talked Of abroad, and 10
se< ora the equivalent in Currency TO meet
sn pressing wants of the Treasury The semi annuai
interest on three hundred millions OF seventhrty no'es
falls due on the 18th nst and tho other
AZ The Department win be heavy during the month,
rye number OF payments having been deferred In order
A trim the last statement Of the public DEBT az wen as
the annual report considerable ''short' interest mas
been accumulated in the gold Market ana COM wn'0n
WAS loaned at five TO per cent previously was IN
as,nand without interest on Saturday afternoon.
On the stock Exchange business was held TO some ex-
sera in suspense owing the suspense attending the
tome Of the public documents and the intervention OF
thanksgiving Day which observed by total sus-
pension of business. The market was, on the wnoie,
rmer aer the Message and Departmental reports were
disguised than before their contents were publicly
known and the prevailing disposition was towards
ejaculation for Reading, Cleveland and Pits
burg Schuylkil Coal and Aarposa preferred were IN
rood demand At the close effort made 10 depress
the latter but yielded very slowly and then stood rm
Al 1--WE on Saturday Reading quoted at l17H
Cleveland and Pittsburg 90 u, Northwestern 49,
A. preferred Is n u, Michigan Southern TAX q, Erie
e2x The market closed with q decided upward ten
Aency
The new Stock Exchange building, on Broad, Wall and
New streets was opened the public on Saturday. and
the board held its FIRST session there The acoustics OF
she board ROOM which is only small portion OF the en-
tire structure have not been sufficiently studied In its
construction and drapery something OF the kind Will
have 70 be resorted TO in the voice Of the
presiding oncer audible over the room, the glass
windows on both sides Of which have much
% do with the nom conduction OF sound from end to
end In mentioning yesterday that the original entrance
fee 70 the board twenty-five dollars repeated an
nualy) We were hardly explicit enough in saying that
the present entrance three thousand except in the
case Of clerks who have served their time In some
brokers' Office in the street. when half this amount only
Ia required Other persons must have been nomnaiiy In
business as brokers least year before they
eligible for admission.
Government securities, which had abored under unu-
sua depression for some weeks prior 10 the meeting Of
O~sQress suddenly became firm when the Message ana
Treasury Export had been read but 1t is not to be con-
eealed that tn nent in degree manpulates
The market both IL, gold and its securities, and the
sooner the Treasury c keep out Of Wall street
hotter, although in the event of panic our hnancY
condition too delicate and presarous be insenthe
70 the relief which the government afford 4 the
constant and secret dabbling in gold on the p
Treasury undgnined and TO be deprecated = d Chr
Mr. McCuloch, alike with the Comptr>. =. deal on
yency, takes the opportunity Of savae slegards
The subject Of taxation in his repo'' necessary
rsvpon Of the system Of informal revsAs condition
- accommodate it 70 the changed ~ accomplished
.sf The country He corrc~s'y rcBai - N mistakes
.vs,op M ,a~~sron opening t.o "a NJ 49,,
.sSuses and receptions, ans .n'o Nh 8 .nn.
that the multiplicity o. o's "a .pppest arru.
~. ~ ta.atio- -n,sh~s one Of 10 ".seA' a'su'
800 can be Brought TO bee agast our OWE.
2.sV6st and difficulty Of collectnr lar number OF /
dnersnt taxes constitute very serious OPTIONS which
claim the attention OF Congress- especially ven many Of
she mposs hardly yield any net revenue the govern
neDt the expenses Of collection swaowoup the gross
recspts when their often vexatios an nqusitoral
character taken into consders'on- ne secretary
appreciates the dinculty Of impring taie judcously
% q 70 obtain revenue without depressing industry and
he recommends liberal POLY calculate to encourage
ma sevelonment of or Industrial esources He
,os.s,dsrs il imports-. that pur resnue system
.A.u,A Ia sreonar., accommodated TO 10 habits and
vsrsuiss people and 70 labor, capit and wages;
49, M, nero should DC careful adjustment Of the
,-~rnal revenue lay Q the tariff, and ofcoursc vc.
sssa Congress- he iafen, entertained similar views
when hprovided 70, the appointment Of commission /
ss three 70 inquire into tho Of revase This
Commission Organized in June last and wI 1t 10 70
- prssamed, shotly submit report Of ~ inysstga-
tions The Con,niHonen have informed Tho Secretary
ha IL seems cepain 70 them that without py increase
= Ne rsss ofaxaton but by the enactm0t Of some
DsdAcasions I'D amendments Of the present law coupled
perhaps ever with reduction In the tatss an in
shsrsvonus from few toths sGent Of
Asy.ss ssg millions year may b secured Here, |
thea pospscs openfor the repeal Of hce Of small
Aanss, ne watch tax ana The silver spo@ tan among
sAsn.
rAh Cunnisssn has prAably inquired Into she sub.
1scs Of reciprocity tresy with The sdjscens British
pspviss With visw 70 ths,ossib,s adoption Of one %
Spsw sAs pssasnt treaty. wh expiresoo the l7th o.
nsssA nszl Ths Secretary vefsu this question
ssxAsr Asssensly. He says zero an grave doubts
~Aslhsr " snsA treaties, hthey yield snythns
~ -Usntsd BY our revenue lava arc NOT 10 |
-ssaAsss win abe spirit Of ne clause usual in
nsss n - oommsrciL treatieso treat sverv nation
- - amo footing But thsuere fsct az a treatv |
.- - i"phss the vchanse Of privileges
- ofesd oy The general laws md We are unable 70
treaty eractly similar thar now In force
..,.N because We arc neithr geographically nor
..-. similarly situsssd WIT regard 70 . foreign !
.- AZ 70 The commsrcn advantages OF the
voc es.'ss'cs OF the imporuapd exports between
ooansses enable to form an opinion and these
'na Canada has been thu greatest gamer by the
- out u does not therefor follow that we have
- " "s operation. Nj McC,noch is evidently
- commercial treaties and b. thinks that any
'Fov'aoes that may be considered mu,.,v nonoac,.,