The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-04-02

tone OF rebuke for their apparent anxiety 10 secure
further advantages In the form Of exemption from ooA
taxes. Thus:-ssThe associations also possess all the
powers necessary for carrying the business OF osnk
ing by dsoouDting and negotiating promissoy notes
drafts bills OF exchange and other evidences On oeo"
and by receiving deposits buying and selling exchange
coin and bullion; by loanng money on personal 30
curty BIZ obtaining issuing and circulating notes. &C.
cording 70 the provisions Of the act duration OF the
charter twenty years They also made deposares
of public moneys whom desgnaed By the Secretary OF
the Treasury and may DO employed q FISCAL agents OF
the government"
The national bank view Of the case IL the shares
of national banks by this decision declared liable 10
local TAXATION 10 the extent State Institutions
that therefore, ninstenths OF the national bank shares
Of the country will b exempt nom city and county taxa
on the Supreme Court having in former suit decided
that even State bank capital exempt 70 the extent ths
such capital Is invested In United States securtes Tho
cases are however, mot parallel because IN the latter
instance was the actual government securities that
were exempted whereas in this the law had TO deal with
national bank shares instead The national banks havs
no reason 70 complain however, the profits Of their bust
mess being largely in Of the average under the old
system, and even II Congress resolved to curtail
their privileges under the act authorisins their
creation by nnt reducing the rate Of Int
rest on the bonds deposited BY them against
their CIRCULATION three per cent preparatory 70 aooiian-
ing entirely they could st bear the blow and prosper
The old banks have been nearly Ill taxed out Of exist
for their benefit and legislation has done al that II
well could do their behalf and FAR more than any
other government ever did for banking any other
similar Institutions why, then, Oliver Twstke. should
they ask for morei Perhaps 10 that their expectations
based upon the scrpsural psoverb:-sTo him that
hath shall BIO given and TO him that hath not even
that which he hath shall be taken away from
him." Mr.. Chase would II hs had his own
way gvs them all that they ask for he read minority
report In favor Of the exemption OF the bank shares from
local taxation, which reflected his preudices
than sound Judgment and therefore dd him little credit
The value of the imports at Boston for the week end
ing March 81 was 81 600 ooo and the duty upon them
will probably DO nearly $500 1000
The Third National Bank Of Buffalo has been desig-
mated as government depository during the week
just closed The total number is four hundred
Tho only national bank authorized during the week
ending March 81 1885, Is the Minors National Bank Of
Salt Lake, Great Salt Lake. Total number Of ma
tional banks now in existence 1,e4A Amount of ma
tional currency issued during week ending March 81
1865, 81, 430,s0o Amount Of national currency pre-
vously issued s262 $40 Total 10 date 1904
The following taoo shows the quotations Of the lead
ing shares the FIRST session OF tho Stock Exchange OF
the close OF each Of tho last fodr weeks;-