The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-05-07
Proposition to Purchase Lower Cali
fOrnia from Mexico.
a rAn..ly Donation to the Lib
erAl Cause.
CIRCULAR RELATIVE TO BROKERS' SALES
WASHINGTON, May o, 1866.


lNGgRsuLI's vENOMOUs sPEgCu-TBE RADICALS
DISGUISED.
Mr. Ebca Ingersol, fat Congressman from Illinois,
is the market for fame. He delivered AN nvective
speech against the President in the House on saturday
during the sleepy session, which surpassed in foolshness
anything yet pronounced excepting rhad Stevens ia
attempt irony. Mr. Ingerso sspecch exces con
siderable among his friends day. and he has
mportuned by them to expunge few Of its objec'
tonable paragraphs before il appears in the Cube The
Fat Contributor will not yield He delivered the diatribe
sensation and he has accomplished that pur
pose The sensation, however, Is of different kind
from that which he intended something similar in fact,
that created by his exhibition in front of the Speakers
table during the closing hours of last sensation
closely akin disgust Several republican members
threaten object Friday the motion for orna
mental session Saturday.
TIKI MERCHANTS NATIONAL BANK SUSPENSION
has been the subject uppcrmos in the gossip OF the past
few days We learn the following facts in regard TO the
governments connection with the affair gathered from
respons be sources:-The account of Paymaster Paud
ing originated by draft the Treasury for two hun
dred and fifty thousand dollars, and subsequently Cd
other amounting in the aggregate 10 six hundred
and fifty Thousand dollars. Having money on deposit at
Richmond and occasion to ii there three hundred
and twenty thousand dollars II drafts also
Bank against which from time time drafts drawn
10 meet the disbursements tho office Last week she
officers OF tho bank requested the transfer Of two
hundred thousand dollars from the First National
Bank Of this city, which declined. The Cashier
Of the latter bank alleged to have recommended such
action stating that tho deposit would enable tho Mcr
chants National Bank to get through, and that the best
way the three hundred thousand dollars still, re-
manning undrawn would be TO put in the two hundred
thousand dollars; but this reasoning was not looked
upon sufficient to risk FIVE hundred thousand dollars
As the matter now stands Bayue Co, OF Baltimore
have made an assignment, prefcrring the suspended
bank the amount Of two hundred thousand dollars
md have given the remainder Of their assets to be dis
ibuted pro raia among the balance OF their creditors
The value Of their assets Is not positively known
but il variousy estimated at from two hundred
and any 10 three hundred and nfty thousand dol
lars Il is also asserted that several OF the
departments, the Post Once and Interior, had
sums deposited in the same bank Major Paulding
has requested . court Of inquiry to examine into tho
Affair He been chief disbursing officer here during
the greater portion Of the and has expended ac
Of the government hundreds OF millions Of dollars
{, may be added that the Merchants National Bank
authorized public depository, otherwise the Treasury
would not have given the money.
NEGOTIATIONS FOR THE PURCHASE or LOwgR CALI
FoRsIA.
II is stated that negotiation Of considerable magni
iude Just concluded with the Mexican Minister
here which involves the leading Anne
cap aiss Of ncarly the entire peninsula OF Lower
California for colonization purposes and to secure tho
development Of the extraordinary mineral wealth OF that
territory. The Mexican government retains interest
the proceeds tof the enterprise but is understood
sum advanced by the parties who have secured
the grant upwards Of million OF dollars which at
this time will be Of important service to the liberal
cause The names Of the following gentlemen appear
the conveyance holding the privileges in trust for
tho parties P. Lease BENJAMIN r. Butler John
Anderson, GEORGE wilkes. William @. Fargo. william X.
rrsvers & L. n. Barlow, Francis Morris and Edward 5
sanford.
A WHITE MAN CONVICTED OK SEGRO's TESTIMONY
IN SEwBEgs, y. c.
private letter from Newbern N. C., says that at the
United States District Court session in that city.
white has just been convicted Of passing counter
felt national currency, black man having been the
principal if not the only witness against him The
writer speaking Of such testimony says-"This marks
a new era in tho history Of North Carolina, under
civil rights principle"
AMENDMENTS TO TIKI TAX LAW.
The committee Of Ways and Means have taken OF the
railroad iron, and adopted the spirit and beer law
very much rs recommended by the commission
free list The report that the matches has been
r.pesicd Is an error The subjec, never proposed
The revenue ball 10 b introduced tomorrow will DO
double the Of the mrs, bill
CIRCULAR FROM TEE INTERNAL REVENUE OFFICE
HsLArivg TO BROKERS SALES.
The following circular has JUS, been issued after the
mos, careful consideration -
TREASURY DspARrssSr,
Oyucx INTERNAL RxvEsux
Nav g.
Three questions have the revenue
laws resrcc ing the TAI upon sales Of stocks exchange
bullion cousd money, bank notes and other securities
Yrs-Ar, brokers bable TO tar upon the sac. Of
their stocks, &C. - well AZ upon sales OF those
longing To othorss
S>oysd-Are bankers dong general business as such
and sslling their stocks, he liable ~ pay tue duties
imposed BY the ninety ninth section upon brokers and
bankers dong business A. brokers, In addition 70 those
imposed upon them as bankers
Th,rd-Are bankers who sell not only stocks belong.
ing ITO themselves but also hos, belonging TO Others 10
be regarded bankers doing business as brokers aud
therefore haiie TO 4 tax upon their >sicsf
The ara Zoo questions have recently been considered
ny the supreme Court OF the United states aud " has
been dccds by them, trsi thai brokers are liable 10
tar upoo their sales Of thor stocks exchange.
bullion, coined money, bank notes, promissory notes
and other sscuries a. Wei upon those bs'ongins TO
Others second that bankers doing general business -
SUCH making returns and paying duties and tlxcs I'M
posed by law upon their capital and deposits who nego
tate and sell government securities agents
% the government, aud who, at the same
tme buy and sell government securities Tor
themselvesl and do not Tor other, or Tor
Tho third question has not been directly adiudcated by
the Court u has not been directly brought before ~
n has ben the rule Of the Office however that when
banker IL engaged 10 selling not only h own sucks
SC but ass stocks &c, tor Others for cotnnlision
he bank 20 doinS business ~ broker ana liable 10
tsx all hts saes-eales of his own stocks bonds
government securities &c inclnded This ssoms clearly
susta ned by the reasoning Of the court N It's recent de-
cison, and ~ be regarded the requirement OF the
law Assessors aud thor a-sstnu and collectors aud
their deput arr hereby nstru ted 20 proceed al once Ia
the assessment snd collection 81 such tavrs have nc
oraed upon ue sales Of broker OF Of Blankets dOIns