The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-07-04

Tax.
IL seems to be the general impression that the &C.
Ton OF the Senate in adopting Senator Wilson'S
amendment making the tax on all incomes OF over
TWO thousand dollars two and half per cent, and
continuing II for two years. will be final and that 1t
VIII be accepted by the House. Senator Wilson Is
among those who believe that the tax should
be discontinued entirely and at once. He discov.
cred, however, that there was prospect OF the
House recedng from It's position, and he concluded
mat the best thing to do was to reduce the amount
OF tax TO be paid, and to limit 1t two years. THIS
Ii on tue principle that half loaf is better than
ine question as IL presented Itself to the Senate
whether the income tax should be abolished and
the duty ON sugar be retained, or the income tax
allowed TO remain as the House fixed it, aud the
DUTY on sugar be reduced. IL Is supposed that the
masses OF the people would favor the latter were the
question submitted TO them. II the income tax to
De continued in any shape the one In which Senator
Wilson has put Is, unquesonaby, the best FOR all
purposes. II Will leave that class or persons who
earn only salaries ana people OF small means COM
parauvely free, and 1t fixes time when the tax
shall cease. This Is more than would have been
affected by the House proposition. The Repre-
sentatives OF the rural districts which do
not pay any part OF this tax, preponder-
ate to such an extent in the House
that any attempt to wipe it out In that body would
no doubt prove fruitless; and had the Senate
stood by its original purpose 10 strike out OF the Tax
bill all the sections relating the income tax the
House would have refused to Yield Whatever
blame there u.s. therefore, In the business must at
tach to the House.
Probable Failure Of the Currency Bill.
The conference committee on the Currency bill
the second one which has been appointed on
Tuesday. vigorous effort IL being made to harmo-
nze the conflicting interests OF the various sections
OF the country in the BILL but with very little pros
pect Of success. The confre,es the part OF the
Senatea are greatly divided. Mr.. Williams, OF Oregon
Is strongly mpregnated with the ideas which pre-
vail on the Pacific coast relative to the currency
and banking. He Is opposed TO everything that
promises an imitation OF the currency and favors
gold basis for banking. Mr.. Bayard, another men,
Der OF the committee is democrat, but he belongs
to the Eastern school OF the democracy far
porting the currency Is concerned; and Is for the
national banks, he is opposed to them on general
principles. Morton Is in favor OF currency in
obedience to the demand Of the West ana South or
the House managers, Judd, OF Illinois, and Knott, of
Kentucky Will probably vote with Morton, while
Packer OF Pennsylvania, will go with Williams and
| Bayard, thus leaving the committee tie. AS It Is
| requisite that the report be signed by ma.
| jorlty of the couneres they viii probably
announce that they cannot agree. 1t Is pretty
well understood that the Senate Will adopt any
| report which favors an expansion of the currency
and 1t is quite certain that the House Will not accept
| anything OF different character. The result is
| likely to be what has heretofore been predicted in
| these dispatches, no Currency bill this session.
| John Chinaman Agitafor.
The Chinese question introduced In the Senate
| on Saturday during the debate ON the Naturaliza.
ton bill, when Mr.. Sumner moved to strike out the
word whte' wherever 1t occurs in the naturaliza-
ton laws. The Pacific coast men all on their
| feet at once, aud had the Massachusetts Senator
| thrown bombshel among his colleagues he could
| not have created greater CONSERVATION Norton Will
son and other prominent leaders OF the republican
| party were on Summers back in an instant in add
| ton to Stewart, Nye ana Williams. Sumner himself
seemed good deal surprised at the row he had
| raised, but he planted himself squarely upon the
Declaration OF independence and claimed for John
! Chlnaman all that he ever contended for on behalf
| OF Sambo. The Chinaman is evidently the coming
hobby of the extreme radical wing Of the republican
party, and IA usual Sumner will lead the advance
guard. 1t is not likely that old fashioned democrats
like Williams, Morton and Stewart will follow him.
| Even his colleague, Henry Wilson, an original abo-
litionst, cannot swallow the Chinaman. 1t is too
late in the session for general debate on this
subject and Its Introduction Is likely to defeat the
Naturalization bill, but look out for 1t at the next
| session.
The Chinese Indemnity Fund.
| The Committee on Foreign Relations, TO whom
| was referred the message Of the President OF
| March, 1870 covering report Of the Secretary of
] State and correspondence concerning the Chinese
Indemnity Fund, say, In their report made TO the
| Senate the origin OF the fund Is this
The British and French expeditions OF 1853 which
forces toward PeSin and ascended the Pe.ho as far
as Tentsln, opened the way to the presentation OF
Claims OF our citizens. which were promptly recoR
| nized by the Chinese government. Though taking
part IN the war our people proted by the result.
| The convention that ensued was born Of the war.
In the draught of the convention, first submitted
to the Commissioners at Shanghai, the amount
stated was $4,000 taels with provision that in
case of excess beyond the claims and interest It
should be refunded 10 the Chinese government on
which our Minister remarked:-'Ihey preferred,
however the small sum, without such provision
evidently thinking that it was their best policy to
get rid of the matter foreyerr The language Of the
Commissioners was:-
We acknowledge the consideration ana kindness
OF your EXcellency IN this matter in that YOU have
OF your own accord, reduced the first amount OF
claims and now place the total at 525, 900 taes. We
have taken the matter into fun consideration and
propose that IL further reduction Of Is 900 taes be
made, fixing the total amount at 500, 900 taels, The
Custom House certificates can be issued at Canton
Shanghae and Foo-Choo. dating from the first day
OF our next year, February 3, 1859, which can be
successfully applied TO the gradual payment or the
After all the payments directed by the Commits
sioners, large surplus found in the custody of
the legation at Pekin, which was subsequently trans
ferred to the United States. This surplus with ac
foundations OF interest aud gain by exchange less
an amount paid under authority or act OF Con-
gress approved January o. 1867 Us Statutes at Large
44O has been invested IN tenforty bonds which are
now held by the State Department, amounting at
par to $3S6000. Another amount of $206 81 in cash
Is also In the possession of the department, and
about 81 900 remain in the custody Of the Minister
to China, who has been directed to make remittance
Of the same.
The committee is brought to the conclusion that,
IN nnility this dog heonn LII