New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-03-26

pered with, the collector will issue his certificate
OF receipt and take the warehousing bond for the
luii number OF pounds named in the permit ant
Wben these conditions are complied with no fur
quired.
In case the tobacco SO received is afterward ex
ported IN the original packages, they will be as
sumed to contain the quantity named in the per.
INIT. II Withdrawn for consumption, the tax must
be paid on the quantity as originally bonded.
o. U. q. Securities in Enrope.-A letter received
at the Treasury Department, from Frankfort, Ger.
many, states that when the news reached there
that gold had fallen to 137 in New York, United
States 5-2o's went up to "a. 1t is probable that
they will reach S. as soon as it is known that
| gold has gone down to l25. The 1905 currency
interest," the letter states are well received in the
German market, now that gold is declining, and
be exchanged for 52o's there at per cent. dis
count The latter securities rose in a month from
10 to "a in London. They sold on the 18th of last
month at 673, but bank interest was then at per
cent, and consols at a6a, and exchequer bills, car
rying per cent. intere st, were below par of /
per cent.
Cancellation Of Iate,na1 ,Reue,ue stan,ps-Ac-
cording to the late decision Of the Chief Commits.
soner of Internal Revenue it appears that he will
recognize the cancellation of stamps which have
imprinted upon them in ink. He states that stamps
are frequently used without date and initials, some
have made upon them with ink, and some even
in pencil mark, while others are punched through
with no ink cancellation. He recognizes as legal
only the stamp cancellation with initials and date
either written or printed.
Legal Tender Notes-According to the ruling of
the Treasury Department, separation of a coupon
frpyr
Treasury note renders such note no longer legal
tender until interest commences on the next sue
ceeding coupon attached to the note and the sep
aration Is such mutilation of the note as to make
it redeemable only at its face value without in-
terest. @@,"
Mississippi Cotton Money-The Southern Bank
Note Reporter says that this money, issued by the
State of Mississippi on the pledge of cotton, with
individual security, was made payable ninety days
after the Governors proclamation to return Gov
ernor Humphries, violent enemy to reputation
in every form, has issued his proclamation in con-
formity to law, and the ninety days expires on the
9Th proximo. If the debtors wish to lift their
bonds before the time specified by the Governor
they will be able to do at thirty to fifty cents on
the dollar, by providing themselves with this
money at the rates it is now offered at. Many
have availed themselves of the opportunity to save
their credit, as well as their greenbacks, and
during the month of February alone, placed in
the treasury over 100000 cotton money in pay
ment of bonds. 1t is certainly to be hoped that
this laudable example will not be lost upon the
remaining debtors of this class
Secretary McCuloch's Po7tcy-On this head
the New York Commercial Advertiser remarks:
1t is quite proper that the Secretary of the
Treasury should understand that there is grave
disapproval among large majority of practical
tinanciers. of the policy of secret Treasury nego-
tiatons, adopted by the head of that department.
Both bonds and gold are understood to have been
sold bya fam y connection. These facts may well
dispose Congress to deny to the Secretary the
carte blanche authority for funding short obga-
tions and contracting the 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
The 1ar on Snuf.-The Commissioner of In
ternal Revenue has decided that snuff of all de
scrptions, when prepared for use, is liable to
tax of forty cents per pound. The preparation of
the material may be made before or.after grinding,
and may consist of picking, scanting, or other
processes-the tax accruing only on the sale, con-
sumption, or removal for consumption or sale, of
snuff prepared for use.
The preparation for use whether before or after
grinding, is held to be an essential part of the
manufacture, and the party so preparing the snuff
is liable for manufacturers license and to pay
tax on his entire product.