The Daily empire. (Dayton, Ohio) 1865-1867, 1866-03-20

Is a grave disapproval among large major
ity of practical financiers OF the policy of
the secret Treasury negotiations adopted
by the head of that department. Both
bonds and gold are understood TO have
been sold by family connection. These
facts may well dispose Congress TO deny to
the Secretary the carte bldnche authority for
funding short obligations and contracting
currency proposed In the original finance
bill. They show the necessity for the
funding measures pending in Congress,
strictly defining the policy of the Treasury
Department, and limiting the discretion Of
the Secretary"
Important DecisiOn-Bank Stock
Liable to Taxation.
The Supreme Court of the United States,
on Tuesday, delivered its decision regard
ing the disputed question Of the liability
of National Bank Stocks to local taxation.
The New York Herald, commenting upon
this decision, remarks:
I'VE are of opinion that the decision Of
the Supreme Court Is perfectly equitable
and in conformity with the acts of Con-
gress, affecting national banks, and that
consequently Il could not 10 justice have
been otherwise National banks have al
ready privileges enough without claiming
the exemption Of their stocks from local
taxation. They will henceforward, it is
true, be compelled to reduce their dividends
in proportion to the amount of local taxes
which they have thus far practically es-
capped, although they will now be required
to pay the arrears hut their profits are so
large that they will still continue, with
perhaps few exceptions, TO make very IA
vorable exhibits.
The mere fact OF their drawing the full
coin interest on the bonds deposited with
the Treasury as security for their circula-
| ting notes gives them a double interest on
their capital, which Is a direct advantage
conferred by the government, enjoyed by
no other financial institutions in the cOun-
ttry. The payment of the full rate of in
terest on bonds thus deposited was held
out by Mr.. Chase as an inducement for the
creation of national banks, which that
gentleman looked forward to as the bIlwark
of our financial system, but that induce
mont Is no longer necessary, and Congress
should pass u law providing for the gradual
reduction of the interest on all bonds de-
posted by national banks as basis OF cir
culation. National bankers have been thus
far laughing and growing fat with riches
at the expense of the public purse, but 1t Is
time that their proportions should be re-
duced to those of the average lot of human
ity so far us curtailment of Treasury rations
can accomplish that result"
Smallpox in the South.
The Charleston Courier on the authority
OF a gentleman who has recently been ma
king a tour throughout the Southern States,
says;
1T Is hardly possible to imagine the ex-
tent TO which the smallpox prevails
throughout the section. All the large cities
are more or less infected. In some places
the freedmen only are the victims, while In
others the white population are among the
sufferers. Little attention Is paid TO dis
cretion in medical treatment. Those who
have the disease walk through the streets
in the most Indifferent and unconcerned
manner. No one bids them remain within
doors. In two or three places through
which he passed one house In every three
had the red symbol displayed. Charleston,
we all know. Is grievously afflicted with
smallpox. In this respect, however, our
friend assures us we are far better of than
our neighbors In the Gulf States. There,
he had been accustomed to see dozens Of
eases on the streets every day; here he
meets three or four"
Death OF u Noted Pacing Horse.
Late New Orleans papers announce the
death by fever Of the celebrated pacing
horse. John Mckinney. The performances
of this favorite horse are so well known
throughout the West that an extended no.
tice of them would be superfuous. IL was
only last summer that he astonished Chica-
goans by pacing his mile over the heavy
track of the Driving Park Association, in
2 :23, This was the real time Of the horse,
though, through mistake, II was given as
2 ;2S. This was his fastest public time, al-
though II was well known that in private
he had gone his mile In an incredibly less
space than even this. lie was, probably,
says the Chicago Journal, the fastest PAGER
that the world has ever seen. So widely
was his reputation known, that II was al
most an impossibility tor his owner 10 make
a match with him, rs 1t was deemed that he
was without rival. He was owned by
James Coniisk, by whom he was valued at
S25,00O His owner once offered 20 bet that
amount that he could pace mile In 2 10,
which Offer was never accepted. though II
remained open until the death of the horse.
In color Mckinney was OF "A bright roam,
stood about sixteen hands high. and was
very long and slenderly formed.
The Chicago Board of Trade and
the Bankrupt Law.
The Chicago Board Of Trade, at its regu-
lar session, recently passed the following
resolutions: 7r
ResoIued, That this board consider the es-
tablishment OF uniform system Of bank
ruptcy Just and expedient Measure, de-
manded alike by the true interests Of debtor
and creditor. 4
Resolved, That this board believes that
the early passage Of the bankrupt bill now I
pending 10 Congress will be Of great bene-
BIT to the whole country, and that we re-
quest the Representative from this district
to give this bill his active support ~
Resolved, That the Secretary forward
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