The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-08-21


has SINCE been confined IN Fort Lafayette yesterday
reconsidered his determination. and, upon taxing
an oath not 10 again violate the neutrality laws, was
released.
The offices OF the Erie Railway Company have been
removed to the Grand opera House, corner OF Eighth
avenue and Twenty third street.
william varey, alias Reddy the Blacksmith ar
rived In this city yesterday afternoon from San Fran
cisco, In custody OF 0ficer Woolsde, OF the sixth
precinct
Samuel Ramsay, member OF the Jersey City po-
lice force, and who served with distinction IN the
late war, committed suicide yesterday by shooting
himself through the breast.
The banking house OF Thomas F. Morris Co.. at
Yonkers, suspended operations on Thursday. IL Is
supposed that Mr.. Stokes the cashier Is defaulter
to the amount Of $4,000.
In tho Superior Court yesterday Judge McCunn
discharged from custody George X. Rutter, Presi-
dent OF the First National Bank OF Tennessee, VINO
had been brought before him on writ or habeas
corpus. Rutter vas arrested Tor emDe5zing
100000 OF the school fund deposited In his BANK
Just alter the prisoner had left the court Assistant
District Attorney Blunt handed che Judge q sele-
gram stating that mandate for the arrest and rem
dtion of Rutter had been issued by Governor Hot.
man and sent by mail.
The stock market yesterday was leyerlsn ana ire
gular, with general decline IN late transactions,
induced by sharp fal, In the vanderbilt shares.
Gold touched 1917, closing finally at 1917.
The steamship Lafayette, Captain ROussan, will
leave pier 50 North river at noon today for Brest
and Havre. The mails for France with close at the
Post ONCE at eleven A. NJ
The steamship Tybee, Captain Delaney viii salt
at three NJ. to-day, from pier No. North river,
for Puerto Plata, samana and ST. Domingo city.
Prominent Arrivals in tho City.
Colonel Charles Moss, OF Louisiana; Colonel J. d.
FenO, OF the United States Army; Judge I. B. Camp
BELL Of st. Paul, and Senator j. g. Fowler OF Ten
nessee: are q the METROPOLITAN Hotel: So
General N. D. Hardin. 81 the United States Army.
IS AZ the st. Denis Hotel.
Colonel II. W. wainwright and Rev. John Fessen.
den, Of Phiadelphis, and Colonel O. D. Phelps, OF
Keokuk, are at the st. Charles Hotel.
Lieutenant G. A. Conover, OF the United States
Army; Hiram Barney, Of Spuyten DuyUl; W. e.
Leach, of Boston, and W. Gyldendai, of Copenhagen
are at the Westminster Hotel.
General H. l.. Robinson. OF BnghamtOn, and j. L.
Williams, of Fort Wayne. are at the st. Nicholas
Hotel.
General +. r. Blair, OF st. Louis; Colonel W. NJ
Strong, Of Albany; G. d. King. OF Cuba, and G. w.
Gill, Of Memphis are at the Fifth Avenue Hotel.
H. w. Hallewell, Of Philadelphia, secretary Of the
Board OF Education; James T. Tucker, Of New
Orleans, and G. E. Blocker. OF Albany, are at the
Holman House.
General J. zien. Of Washington. and j. Fargo Of
Bu1alo, are at the Aston House.
Prominent Departures.
Colonel Malcolm for Boston, Chief Justice Chase
and daughter and Senator Sprague aud family for
Narragansett, II. l., and John Carson for Baltimore
British visws On the Proposition to Tax
United States Securities.
British journal which pays particular atten-
ton to financial matters makes some curious
remarks on the proposition to tax United States
securities held abroad. 1t says that ''the first
telegram by the French Atlantic cable informs
us that the New YORK HERALD strongly ap-
proves of the proposition to tax bonds which
are held abroad And, again, in leading
editorial it remarks:-''A somewhat remark
able, but by no means astounding, piece Of
Information has been received from New York
through the Atlantic cable. An agitation pre-
walls on the other side of the Atlantic the
object Of which Is to enable the government to
tax The interest payable to foreigners on the
debt held by them"
Now, for the consolation of -1s''n cou-
Temporary wa viii -~y mat at present there is
here no very great agitation on the subject;
but we repeat what was said before, that the
interest on the bonds held abroad ought
to be taxed as the interest of those held
by American b0ndholders is taxed. The
tax On the interest Of our government bonds
held by our citizens is FIVE per cent
we refer TO the internal revenue tax on all
incomes beyond the exempted one thousand
dollars. For instance, citizen holds govern
ment bonds, the coupons Of which yield him
from the interest taxable income of ten
thousand dollars. AT five per cent upon this
income, as upon like income from any other
source, Eve hundred dollars must be paid into
the national Treasury; but the subject or
citizen Of England or France pays no tax to
our government upon its securities in bis pos
session, simply because he is outside the pale
of our internal revenue assessments. Hence
we contend that specific tax of five per cent
upon the interest Of our bonds held by the
subject or citizen of England, or France, or
any other foreign country, will be no act of
injustice to him, inasmuch as it is the tax paid
by the American citizen. Simple justice to
the citizen requires, in fact, that the foreigner
should be subject to the same assessment on
his income from our national bonds.
We believe, too, that when this subject is
brought prominently before the people and Con-
gress the justice Of the proposition will be
admitted. The argument against taxing our
bonds held abroad is far more remarkable
than the proposition for it is conceded
that In the way Of precedent the United
States would be justified in such an act. 'To
certain extent the writer says, 'the
Americans would, in taxing European holders
of their bonds, be following precedent which
is every day furnished by this country eng