New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-08-06

Philadelphia were consulted TO the nature OF the loan
to which they expected TO subscribe commune r
OF the banks headed by Mr. Vail Of the BANK OF Com
merce to Washington TO have embofled IN the act
clause IN relation 10 this question OF takaoh tht ,e
common people might readily understand lorl 70 thc
people that the bonds ultimately 10 60 me pahs
frankly confessed their inability to take ana nOu
loans that the Government must put upon me nrAst
Hence find that in the act Of February 5 1907 TINS con-
n stocks SoSds AID o,y .ec Its Of he Uaa Stairs hsd
~ ndtmnas Orpordt01s o. associations wth ne 'ta oa
This tie act FOR tho issue OF the bonds known as the
u . 5Os OF I2 inc act OF March 3 1903 has TINS stu
notes United states notes issued under the provisions
State or municipal authority Under this act large
Of the FyeTWentes were Issued Under the act
March g. 1868 tic TeIl-Forties issued OF course
the condition in relation to taxation Is the same rs
Though the Ten-FOItcs were issued under the act OF
March, 1853 The first quotation above from me act OF
February IS 1902 the whole ground All StOckS,
bonds. de- shall be eeIapt rom Mrao sun covers only
the ground OF the supreme Court ucc.soas' oyget
and good effect 81 putting u I'm the act was 10 ns me
fact INTO the puDhc lhlUu' HaNIhS 'i a., ~ 49,
state authority, will glance at the power OF the General
from United States bonds are taxed now JUS 10 .oes
which arise from other sources ANY allehpt W
such bonds in excess OF other analogous
carefully guarded against by the Colstu!o M .ov
OF Article L. of this instrument we iind the IoloWs'
congress Shall nave tIS 10 70 h od nroviir
duties imposts aud eNclSe 10 pay le s ~. FIr'id
the common defense and general welfare OF the Uu
nnifom tIronshont the United states" This clearly
forces any who Is imbued with the spirit OF equyi
10 the CONVICTION that currency dIIhlR loh thV
States bonds cannot he taxed Of incomes arising
J. THOMPSON.
The ChicdgO Republican Of Monday says
closed quiet financial circles and there are DO new e
Of ecor There has been slight Improvement IN ue
money during yesterday and today but this Is only tempo
ra loned expiration Of the month when merchants
balance There has also been good demand rom gn
circles for the settlement Of contracts expiring ihs end Of iae month
Of Interest remain steady aud without change
there perfect nearly all banks Can loans on
Government srcuTirs can he negotiated at t07 per cent
The Detroit Tribune of Tuesday says
continues TO and not ONLY are our
al the good paper that IS offered bn sons o.
ghboug interior seeking fr ami loans on o
erals apphend that the movement ~ wheat will soon cal INTO use
which the banks and bankers have a. their command
but speedily again the shape Of Eastern eKhange we
do than comparatively money marNet r 90
Currency abundant and we learn
that Of banks has shipped considerable Est 10 form e1eAas
The Boston Daily Advertiser of Tuesday says
The offering commercial paper for discount to-day has been rather
larger than Of late but the general condition Of the money m
unchanged discounts the m charging tobt per cent
rule and although choice short dated notes taken IN some cases
banks charge Their customers rom
% per they deem fair The demand Tor cal
The HomiHay 10 cent but many OF
they would Ike at The lover