New-York tribune., 1870-04-25


had the Funding bill under consideration on satuiuay
1t having been apparent to Mr. schenck for some time
that the bill as It passed the Senate generally oD
jectionable to the Committee, and, in addton, tna'
there probability OF its adoption by the House, ne
had therefore prepared bill as a substitute for the
Senate bill 1t contains the funding features with te
Objectionable portions stricken out, which were allowing
the funding of roenbacks and in regard to the compu
sorry cause requiring the banks TO take the new bonds
lie has endeavored TO harmonic the conflicting interests
satisfactorily 10 both Secretary Boutwell, and the Ma
tiona Banks No decision was reached concerning the
b and special meeting called for tomorrow at ~
o'clock, when it is expected the matter Will DC nnay
dsposed Of and the bill speedily reported TO the House.
From the debate already had on the subject of the
Income Tax generally conceded that the tax VIII not
be abolished Those in favor Of its complete abotionnow
admit this and the only effort now making by this class
is TO reduce the rate much as possible Gen. schenck
has turned the tide favor Of the tax so far as the
House Is concerned and Secretary Boutwell, ana Conns-
soner have also made every effort to prevent s
abolition The indications that the ratio VIII De
reduced to three per cent and the exemption hxed al
1900.
The following figures collected from the treasury
Department to-day and will be found interesting as snow
ing the healthy condition Of our finances at the present
time The Treasury Statement April 1862 exhibits com
belonging the Government $50 12 coin In treas
ury represented by certificates, SCI 672O0 currency, s
so Total Sill OO5 993 81 In comparison the Treas
ury Statement OF April 1870, exhibits coin belonging 10
Government 66 245 0S coin in Treasury represented
by certificates, s3sS4s50O currency S72729 90; Iotal,
s1l28s6l7i 49, The coin belonging to Government April
1870 was less than April 1862 s566562o o. while the
currency balance was plus s67O1O23 less in Treasury
April l. 1870 Sl9955lS 81. But the Treasury now holds
bonds purchased from April J. 1862 to April l. l1O WIN
accrued interest thereon, TO the amount OF sO59W 81
In consequence of the payment OF the ANIMAL taxes I'M
der the Internal laws for the next three months
ho tpfo
currency than during the past three months. Com
missioner Delano estimates his collection for April May
and June Of 1870 in the aggregate at about s52OOOO
Therefore. unless the expenditures largely increase
which probable the Secretary decides toincrease
his purchases Of bonds there must inevitably be an in
crease OF the currency balance in the TreasuIyfor the
next three months The coin balance and currency bal
ance in the Treasury April % are each greater by
s2OO0OO0 than they were on the 1st inst
The call Of the House on Friday night last il is expect
ed, viii have good effect on Members in compelling
them to give Of their time TO the business OF tie
House In the last two months the number OF absentees
averaged about seyentyve each day. The Sergeantat
Arms Yesterday received warrants the arrest of the
following members: Messrs Ames, Axtel, Bggs, Cobb,
(N C) Cowles Davis, Ella, Ferry, Garfield Hademan,
HeHin, Jenckes Knott, Lynch, Fox, Morgan,
Mungen, Negley, Reeves, Roots, Sheldon N. Y) slo-
cum Smith (Oho) Smith, (Tenn.); stokes, strader,
Tafe Van Horn Ward, Wilkinson, and Wood. They will
]
The select Committee on the decline of American tun-
have agreed that there shall be subsidized lines OF
steamers from New-YOrk TO European ports and from
the United States to Mexico and have appointed sub
committee, consisting OF Messrs washburn, Calkins,
Burlington, and Wells, to prepare the bill.
1t seems be generally conceded that the Tal1n Dill
will be recommitted TO Committee during the present
week. 1t useless to waste further time
on the measure.
The only matters before the Senate for considera
ton in Executive session. OF any importance and which
will provoke long debate, the San Domingo and the
Reciprocity Treaty with the Sandwich Islands, The lat
ter will up Wednesday next. 1t will be remem
bered that this treaty was up for ratification two
Winters ago. but that its friends in the Senate were
afraid TO risk VOTE I'm consequence Of the opposition OF
the deceased Senator Fessenden and the Senators in the
sugar and cotton growing States
The Governors OF Wisconsin, Minnesota, Iowa, and
Kansas have been here for several days In consultation
with the respective Congressional delegations Of those
States and OF NewYork, in regard 70 the Improvement
Of the Fox and Wisconsin Rivers in Wisconsin. Gen. c.
K Warren who has been under directions Of the Govern
ment for the last two years carefully surveying this
work. estimates that channel holding four feet of
water will cost little 100000 The matter is now
before Congress bill to extngsh the title Of an old
private company, of which exGov. Seymour is the head,
and make the whole thing national work. This pro-
posed channel IL Is held, will extend communication from
Green Bay up Fox River TO Portage, thence down the
Wisconsin River to Prairie Duchien the Mississippi
River, thus connecting the navigation OF the Western
rivers with the great Northern Lakes and by way OF the
Erie Canal OF which this is virtual extension, with the
center Of American commerce. The bill now pending
asks appropriation this year. but only extnguish
the DID, private titles and place the work III shape TO be
commenced hereafter.
Some time since Commissioner Delano received from
John W. Garrett President of the Baltimore and Ohio
Railroad, proposition to arrange the amount due by
the Company to the Government for taxes, etc. The
proposition rejected. Several days ago another
offer Of compromise made by the Company named.
TO pay $4,000 the Government the five per cent
tax the surplus earnings OF the Company, which
amount they had used up in adding to their stock,
depots, etc. and which had been charged to consruc-
ton account This proposition was accepted yesterday,
and the Company is to pay the money this week. The
Commissioner will accept no compromise in the case
where this Company holds as trustee Ave millions
worth Of bonds issued by themselves and indorsed by
the City of Baltimore. He has ordered
suit to be brought against the Company
for the recovery Of the tax on these bonds
for the years to 1862 The City Corporation OF Bat
more enjoned the Railroad Company from paying the
tax, and the will have to be decided by the Z. s.
Circuit Court in Baltimore. Commissioner Delano has
still under consideration the OF the NewYork Cen
tra Railroad Company. 1t appears that this Company
issued dividend scrip of so per cent on their capital
stock gave it their stockholders 1t amounted to
about s4OOoO0OO The Commissioner insists the tax
being paid this scrip or at least the larger portion OF
il as the earnings OF the Company Since the Of
the Internal Revenue laws the Company has offered
several times compromise and it is understood that
the matter will be settled this week.
President Grant Vice President C0faX and the entire
Republican delegation in Congress from New York, have
sgncd intention be present at the grand social
entertainment to be given by the NewYork Republican
Association OF this city Wednesday evening next the
18th inst The Committee Of Arrangements for this en-
tertanment have provided for occasion recherche in
character and Of the highest enjoyment