Baltimore daily commercial. [volume] (Baltimore, Md.) 1865-1867, 1866-05-07
FROM WASFspNGTON.


affairs Of the Merchants National Bank arc even
Morse than Was.generally apprehendcd yesterday
The liabilities wiz exceeyt million of dollars. and
aNaliabe assets are less than SJUJW0. Mr. tayne
OF baltimore, represented to the committee Of bank
men from this city. that if permitted to manage lis
own assets, or have them managed carefully t53t in
three mouths time OiGOcouId bc zed over and
above everg cent Of his Indebtedness Apparently
tpecommittec did not take the sanrune view of
OF sustaining the Merchants National bauk by The
"tHfr ha!iTnai banks has been Abandoned, and its
analrS Eli go into the hands of receivers.
Col. Pauldng. paymaSter, in the army saws that
ne had on deposit IN the bank about $500 CdO lie
SaJs further that this bank was designated BY the
treasury Department as depository Of public fands
IN the hands of Government officers and agents: that
whenever the Treasury gave him check on this bank
ne lett u therein to be drawn on. as be mad right to
uo' 3nG never drew funds from other depoStaries
TO place IN this bank until recently when he did so
~ the request Of officers OF other national banks in
lhlS city, on their statements that the amount so
drawn and doposite! tabout $2l0.00l) would e.
able the Merchants National Bank to overcome
some temporary difficulties. and thereby secure to
me government the other amounts deposited there
ln He represen that he desires thorough inyes-
session of the Inspection Division of tho Paymaster
examined.
The financial excitement about town has boan
heightened to-day by the fact of tae suspension OF
the bank sing house Of Maury & Co.. eth Street who
are involved by the suspension of the Merchants
National Bank. 1t is stated in behalf Of this firm
shat there is good reason to believe that il will sonn
be able to resume operations.
President johnson has signed the pardons of Harry
lays, OF louisiana Confederate Generally and J.
Lahtte CT Charleston, S. c. formerly rebel agent in
Europe.
- The receipts from Internal Revenue to-day were
S65 505270 and the total receipts for the week ending
today were $S,304,SiG.2l.
,r THE CATTLE pIsEAsE AND cHoLI RA:
WAsRyN droN, May 6.--Tnc Department OF State Is
IN receipt OF Dispatches from the United States Con-
sui at London dated April 2lst wherein it is stated
the decrease, and the expectation is general that 1t
II VIII soon wear itself cut and entirely disappear
From the same source it is mentioned that tele-
gram from New Iork of April 18th had just been re-
celyed stating that the steamer England had put into
Halifax for meaical aid with cholera on board sup
posed TO nave been spread by immigrants from Ger
many. In commenting upon tho saaap, the Con-
sui states that he cannot learn that there Is or has
recently been 4 single case of cholera in England
ana therefore he concludes that the disease was not
the result Of infection taken from any locality in
m hnglanPp f Ing 3?wspapers sty that the cholera is
of these places
MEXICAN COLONIZATION sCEEMK.
1t is stated that peEotatOn uf considerable mag
nitude has just been concluded with tho Mexican
Minister here. which involves the cesion to certain
leading American capitalists Of nearly the entire
peninsula of Lower California. The ceSsion is made
ior colonization purposes and TO secure the develop
cnt OF the exraordnary mineral wealth Of that ter
rtory. The Mexican Government retains An inter
est in the proceeds Of tho enterprise but it is under
stood that-the sum advanced by the parties who
nave received the grant, Is upwards of million Of
dollars, which at this time will be of important ser
vice to the Liberal cause The names Of the follow
ing gentlemen appear in the conveyance as holding
the privileges in trut for the pares:-jacob P cez
Renj. +. Buticr. John Anderson. Geo Wilkes, VIM
=. Fargo, VIM. 4. Travers. :. S. NJ Barbour Francis
Morris, Edward l.. Sanford.
CONVICTION on THE EVIDENCE or 4 COEoRED WIT
NESS,
private letter from NJ bern II. c.. says that at
the United states District Court now in session in
that city, whito has just been convicted on the
charge OF passing counterfeit national currency, a
colOred man being the principal if not the only Wit
ness against him TIE writer, in speaking Of such
testimony, says: This marks era in the history
OF North Carolina, under the Civil sights bili.'
GENERAL INSURANCE LAW.
A memorial has been sent to Congress asking for
the passage of general property and life insurance
law, by which companies mas deposit with the United
states treasurer, Government bonds covering the
extent OF their obligations or amount of capital in
order to secure the insured in the case If
ton Of such law would give to the really solvent
companies the public confidence to which they arc
entitled.
ORDER TO PAYMAsTERs.
Paymaster General Brice's order 10 all payrasters
OF the army has been peremptory, that during the
proceedings of the DISBURSEMENT the government
funds should be kept by the dil6ursng ofeer w6ere
the Ireasurers drafer mad placed them. IC is said
that but for the violation Of this order the Govern
ment would be entirely secure, by reason of the se-
cnrIles in the hands Of the Treasurer lett expressly
for that purpose. Within the last SIX months, Pay
master H. e. Pauidiug bad four millions Of dollars
IRON various officers, OF which three hundred tn us
and on the ilth OF November last, and one hundred
thousand on the 9Th of January, four months ago
was all that was drawn upon tho recently s1s-
pended Merchants atonal Bank of this CITY which
1t was supposed had been withdrawn for tie payment
OF troops. But there SJ 900 additional belong
ing to the Government in that institution.
1t is claimed that there's security TO cover all the
bonds which were lcgitimately placed there. Pay
master Paulding however, has requested The inves-
tgation of his conduct b. of inquiry and as
sertS that no money was improperly placed in that
bank by himself. Whatever mag be the degree Of re-
sponsiblitythe Government will prob bly, loose five
or six hundred thousand dollars.
49, TAX on SALES OF BROKERS AND BANKERS.
The following rircula- isSupd Of tay
the most careful consideration:
TREASURY DEPARTMENT,
OFFICE INTERNAL REVENUE.
WASHINGTON. May 5. 1866.
Three questions have arisen under the internal
revenue laws respecting the tax upon sales Of stocks
exchange. bullion. coined money, bank notes and
other securities, VIZ:
First. Are brokers liable to tax upon their sales
q tneir own stocks &c ss well as upon the sales OF
Second Are bankers. doing a general business as
such, and selling their own stocks &C., liable to pay
the duties imposed by the Goth section upon hroker
and bankers, doing business brokers' in addition
to those imposed upon them as bankers?
Third. Are bankers, who sell not only stocks be-
longing to themselves. but also those belonging to
others, to be regarded bankers doing business as
brokers. and therefore liable to tax upon theil
The first two questions have recently been consd.
cred by the Supreme Court of the Uniled States anG
II mas Peen decided by them: Firstly. That broker
are liaoe 10 tax upon tne sales of their stocks ex
cIahse' pGIlon, CON- money bank notes, promiSsory
notes ana other securities as well upon those be-
luus As " oIueIS cecOGu. mat banks doing gen.
era! business as such making returns and payinl
duties and taxes imposed by law upon their capita
and deposits, who negotiate and sell Government se
curitles as agents Of the Government and who at thu
| same time buy and sell Government securities fol
themselves. and do not for others or for a commits
l sion, are not liable to tax upon such sales
/ The third question has not been directly adudica
ted by the court as it has been directly brough
before it. 1t has been the rule of the ofce however
that when banker Is engaged in selling not only hi
own stoc ks, &c but ais Stocks &C. for commission
he is banker doing business as a broker and is ii
able to tax upon all his sales-sales Of his owr
stocks, bonds Government securities, &c. included
This clearly sustained by the reasonings of th
coCrt in its recent decision and will be regarded q
the requirement of the law. Assessors and their as
sstants and Collectors and their deputies are hereb
Instructed to proceed to the and collec
ton of such taxes have been accrued upon the sal
of brokers' of bankers doing business as brokers
and which still remain unassessed or due and unpsj
tSigned) Z. a. ROLLINS,
Commissioner
- POLITICAL MANUAL.
1t will be interesting to politicians Of the couutr
to learn that at the request of numbers of politica
men of both parties, the Clerk of the House of Rep
resentaives is now engaged in preparing politica
| manual to contain the leading political speeche,
| messages. proclamations orders and vetoes Whic
| have been issued since the accession Of Presider
lOhnsgn, It will be published immediately alta
fhn nd dlHVswr aav1fa g rtytrN