The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-05-03

taxation OF so large an amount Of property, and
various propositions have been made TO subject them TO
taxation By the United states While they bear interest
at rate equal that paid in most OF the States on notes
and securities subject 10 tax this feeling or inequality
will continue to increase They are now subject 10
income levied by the Unieed States but owing 20 the
six hundred dollar exemption. now proposed 20 b. IN
creased thousand dollars and also 20 the large
amount held abroad which cannot be reached and the
readiness with which the Is avoided IL comes TO the
United States less than oneenth OF one per cent on the
aggregate debt In consideration OF the reduction Ia the
,snths per cent 70 Ave pes cent, this bin
proposes to extend the present exemption from
IN ssc secure to the United stated reduction Of one
sixth Of the present interest fund with but the trng
loss Of the income The saving thus made with fur
ther sum equal TO thirty mills on tho dollar Il rs pro-
posed to apply 10 the payment Of the principal OF tho
debt II uninterrupted, this will be accomplished in
thirty years The effect IL to pay the natonsl debt
by the saving of interest The second proposition likely
70 excite opposition Is that which gives option to the
holders Of seven-thirty notes TO demand payment in
money at their maturity. This option will compel the
Secretary to accumulate vast sums for contingency
that may not happen, and place him Ut the mercy OF
sudden combinations whenever the notes mature they
DO in large sums at specified times. To avoid
this the bill revives the common custom aud
s law Of giving a reasonable notice BY the
applied TO the option Of 1862. II o1option Is taken
then II Is held to be choice Of money and the Score
tary wall have six months 70 prepare for II. will not
discuss this bill further II IL approved by the secre-
ary OF the Treasury and has been partially considered
by the Committee on Finance 1t VIII be objected that
the holders OF the present bonds will not convert them
but fortunately nearly all our securities viii soon be
within our reach by maturity and h Is the confident be.
lief that this provision reducing the rate Of interest will
be so fair adjustment between the conflicting interests
OF the bondhoder and taxpayer that will be accepted
by both and thus represent the consolidated debt OF he
United States All the advantage proposed by the bill
will be more properly considered when il Is reported 10
the sesate In the meantime IL Is but right to submit
1t to the impartial test OF the public Judgment for
ale It's the interests OF every who pays taxes or who
holds national securities.
The bill was referred to the Committee on Finance.
Mr.. SUMNER, nrep.) Of Mass, reported from tho Com
mittee on Foreign Affairs, bill for the RELIEF OF the
Of the British vessel Magiccnne which provides
for the payment 70 the owners of the vessel their
legal representatives ald TO the and shippers OF
the cargo the sum OF So GAS to be distributed aSrceaby
to award made by Messrs. VIM. 81 Evarts and I'd.
ward Archibald TO whom the claim referred by the
secretary of State of the United States and the British
Minister Resident al Washington.
JURISDICTION COURT
Mr. CLARK, (rep) OF H., from the COMMITTEES on the
Judiciary, reported, without amendment the bill 10
tend the jurisdiction Of the Court OF Claims AS fol-
lows
Be enacted by the Senate and House OF Representatives
That Claims jurisdiction and
s s q any oer 81 s
United states o. his administrators Or erecaors for
otherwise, while in the ne or his duty o. goyernme
such oicer was and held responsible Provided that an
appeal may be taken to the Supreme Court IN other
SIC And be It turtle. , enacted That whenever s',a
have been without fault neglect the part Of any such
officer shall make decree setting forth the amonnt
shall allow such officer the amount deceed
AN AMENDMENT TO PLAN THE RECONSTRUCTION
Mr. wnriAxa. trep) Of Oregon, unlimited an amend
ment intended TO be offered 10 the bill 10 provide for
restoring the States lately in rebellion to their fun pot
cal rights, In lieu Of section first Of said bill
Whenever any OF the States ia insarcen
the he and shall
sss. sqe snd se. aer the an say m AZ
found duly elected and aasiissd shall upon &c
senators and Representays. Tsasssses ArSsnsa
Aforesaid when ether rsd shall atfy
said, said proposed amendment
REGULATING PROCEEDINGS IN UNITED srArrs cou1ra
Mr. Howard, trcp) OF Mich, introduced bill regi.
lang tho service Of final process In suts OF law and
order and DEGREES in equity OF Courts Of the United
States, in places out OF jurisdctional limits
Referred TO the Committee on the Judiciary.
ANOTHER AMENDMENT 10 rW RscossrRrcros COMMITTEE 8
Mr. DIXON. frcp) OF Conn, asked leave to give mott
Of his intention offer amendment 20 the bills and
resolutions reported by tho Joint Committee Recon
sruction. and M substitute therefor the following
Resolved & that the interests of peace and the interests
of the Union require tho admission Of every STATE TO its
share in public legislation whenever u is, no.
under any constitutional or legal lest
Upon this Mr. DIXON asked leave to make a few
marks, and prefnced them with leading article on re-
construction from the New Y TX Evening Pcs. He then
.aia What have read seemed 70 me e wise s, ana us
make OF my own views Is The leading artir IN tho
New York Eren're Pos o. Nay Ia ,arns hhcb Is
BY any newspaper in tho couaiiy couiss from snch
source cannot but hope that these wise calm and states
manike views may have n1cncc even this body
10 they certainly will have among intelligent people Of
The U....51 SiAes They express, In my Judgment the
rssoute convictions of thinking men, and WI 20 soon as
public opinion can legtimaely declare isef take the
form and b. clothed with the authority Of public law
Mr. FessrSpEs, (rep) OF Mel wish TO make single
remark on the propos Of the scnaior from Connect
He thinks these remarks which he r al from
the Pee very wise and 80 very Just that he s
some hope that they may not be without thei enect
intimate that the last place where wise aud Just mea
fures would DO supposed TO have any ELECT would be
upon the members Of this body Sir We have not given
ourselves over o. the keeping OF The senator rom
Connecticut those who act with Inn We DO
not pretend TO any particular wisdom or paftSu-
lar senso Of justice; bat we who are on the
committee and who are more Immediately referred TO
by tho remark feel that at any rate we have tried TO DO
our duty We have been In session considerable
length OF time Not longer than We deemed 10 abfo.
lutSy necessary I'm order reach conclusion and In
reaching that conc sion wo have been OBLIGED 20 take
INTO confederation a great many things First, what
would be wise and Just 10 do; and IN The next lace,
what II is wise and just, We can do; what would be
accotable Congress and what would be acceptable TO
the people The propositions In that committee led
70 considerable differences Of opinion. These dif.
ferenees OF opinion had TO be reconc.iod. j do
not suppose that the scheme As presented would
be exactly In all particulars what suited
perhaps large number but the question was not one o.
mere personal opinion mere adherence 70 personal
opinion or personal feeling and the committee, after
much dcllberaton came TO the conclusion that s duty
wax TO agree upon the scheme upon which they could get
10 anything like a fusion. The propo iton made by
the honorable Senator from Oregon this morning would
Indicate for instance that he is not exactly suited WIN
the results 10 which the committee and really with
all respect 20 my friend from Oregon, boz leave to FAY
that when tina, committee, after great dclberson has
como 70 a conclusion upon subject, whch con-
clusion has been asseDted 10 and reported,
that at any rate the member Of the com.
mlttcc should abstain from pressing indy dual
views TO influence the general action Of the body,
II tends at once weaken the report itself aecede,
sir to what has been sad by the honorable senator
mr. Dxonl with regard 10 the eminent standing o. the
press from which he has read But SIR eminent AZ v,
think II 10 not immodest on the part OF the Committee
OF Fifteen selected with very considerable care, and,
with one exception ugherigenileme who
were cmneny nt for the post which was assigned
TO them; II n not say, very mmodest In them 70 sup.
that after months 81 delberaton After great care ana
reflection after careful examination Of the subject before
them only 70 what were wise 70 do but AZ 70
could be done Ia not mmodest TO say that their
opinions united In the opinions 81 very large majority
~ them might be supposed 10 somewhere near IN
wia oplnions Of individual