The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-03-12
COMMERCIAL AND FINANCIAL,



The country viii learn with regret that
Hon. WI lliam Pitt FeSenden has positively
ITs SSaaa continuing longer AZ the head Of the
lance COMMITTEES Of the Senate.
1t is tntimated that the annual reduction Of
internal revenue under the tax bill VIII be
on clothing four millions ten pAr cent "a
~, I, - LIS e Per cent thirteen millianS- on
Sertiser6ts1SSs SSgar retneTs, 800 90; 3D.
low ware. $4,000 naptha stSve a ,T.L 10
- s-Lt; Sis1"O: varnish, s2Io 00Sz vrsQ
= halt - IN mons and
II Is apparently reduced to certainty tina,
longer bat that nOiuportaut lfna rc5Sl $3.50 reeAs
ures will be acted on '7A'
The retain business, and the jobbing trade
greatly revived within a few DAYS pasf =.
t4ttsotTgh Gd-etls Of yesterday.
In New York on Friday, Justice Leonard
OF the Supreme Court, decided thaf TT1J1si
States legal tender notes are in law money
and as such are liable 10 taxation.
The appropriations made at the last ses-
son OF Congress foot up SlI4, 7p3,0OO. This
named
The Troy Timer OF Saturday has the fol-
loving; "Rumors were current in the street
on Friday, that l. W. Jerome, OF New York,
had failed The fact is, as we learn from a
source altogether likely to be well informed
that Mr.Jerome has lost within a short peTi,,
cd about 81 10000 BIZ the decline in paciti,
Ili'sll ssock But SIS he has a balance OF quite
sell, creditors and aequaintances are quite
easy While the decline was going on in Pa
Sit.S ~ " NJ Jerome was the loser of some
Office 9~A'e IL us
In his speech upon the currency a few
weeks ago, Mr.. Hooper remarked that the ne
sPonsioiiity OF the Government for the re-
dempiiOn Of the bins OF national banks airn-
parts such degree OF security and coincidence
70 the national bank notes. that they circu
tale - Wen aIler as before the failure Of the
nan IS II seems, however, thai Mr. Hoor.sr
Inisnt nave stated the'case even more Stroile-
"a ~ ttie OILS OF broken banks aIe now
49, Sn 81 70 command a premium. At drSt
slsnt there Is something exquisitely aFsnrri
~ TINS statement, but We have Il on q ndoubt-
- tutnoElty. mat the bills should continue
TO be worth their face notwlthStandinS The
iAl!ure OF the bank, i no more than thes mo-
JectorS and advocates or the system have a.
ways argued would result from the DT0yTiSt,1,
requiring them to be secured by pledge on
United states stocks. But that dishonorei
those OF sound banks, the most Sausuint.
would never have dared TO predict
h. S,,+j ~ ~, " LIS LIS apparent anomaly IS to
- - IounI IN the TACT that the limit of circu-
lation allowed by law has been reached win
out ewing all the banks in the country an
AtlounN OF circulation corresponding TO their
e4ptai, bank, however, can obtain notes
rom rom the government on surrenderipe an
70 Dc reIsues- As soors- tiSI v hieh Is not
S--1lLHsr - 941Ls are sought after ty Cfia-T
nanhs Enlch wish 10 enlarge their cfrruIs-
ton, and the demand arising from this cans
IS Suncient 20 put them at a premium which
mas sometimes ranged as high rs one per
cent. A very brief period or circulation Is
enough to repay the premium TO the pur-
cIFaslns Dank, and as the new bills rarely re-
turn 10 the bank issuing them. it verv soon
realizes handsome profit on lis Investment
Sotnlng could better illustrate the confidenc,e
ieIt In the present bank circulation or It's ex-
trenely profitable results 10 the banks or
issue. Inc former rests secure upon the SOL
NeLcE OF the government. and the latter
spring from the general distribution of the
DllLs Al over the country without any desire
on me part OF the public 10 have them re-