Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-04-21
FINANCE AND TRADE.
OFFICE or THE DAILY APPEAL,
MEMPHIs. April %. 1870.
FINANCE.

MEMPHIS, April %, 1870.
FINANCE.
The slight additional activity in cotton
to-day and yesterday has caused a light
improvement in the supply of exchange
though rates continue firm, as the de-
msnd is quite active on the East. Bills
are taken at par, and in all cases = pre-
MUM Is the selling rate. AS usual, the
supply is not evenly distributed, bat dis
count houses have less trouble in buying
from those who are more fortunate in
keeping up their balances.
Tennessee money isquiet. The demand
from taxpayers is light. Dealers sell TO
one another at &c, and to outsiders at Toe
The ounter offerings are small.
County Warrants are in some demand
al 76G77c buying; selling at 7s9SOc.
City Scrip Is nominal, and we could
learn Of no operations in stocks or bonds,
while the demand for gold keeps pace
Withthe supply.
Captain Felix w. Robertson publishes
a card elsewhere, in which he states that
the list of delinquent taxpayers will be
published on the Ist of May. Those who
W. city taxes therefore had better be up
and doing.
The Government annually collects, In
the form of impOsts, Sl76, OO0,O9e, and the
sum OF S525, 200, 900 internal revenue This
Is equivalent to SIS tc every man, woman
and child in the United States, or $40 TO
every voter. The United States imports
annually 280, 900, 900 pounds Of coffee, and
40, 1000, 600 pounds Of tea. Upon the former
the consumers THE retail buyers pay a
tax of SIl, 500, 900; upon the latter $40, co.,
coo. The farmer starting to his work has
GOe put on his horse with nails taxed
81 per cent, driven by a hammer taxed 81
per cent. cuts q stick with 8 knife taxed
20 per cent; bitches his horse to a pillow
taxed so per cent, with chains taxed o.
per cent. He returns to his home at
night and laysCasE Wearied limbs on q
sheet taxed IS per cent, and covers him.
self with a blanket that has paid $50 per
cent. He rises In the morning, puts on
his humble flannel shirt taxed SO per
cent, his coat taxed 80 per cent, shoes
taxed IS per cent, and hat taxed 20 per
cent; opens family worship by a chapter
from his Bible taxed . per cent, and
kneels 10 his o on an humble carpet
taxed $50 per cent. He sits down to his
humble meal and eats from a plate taxed
40 per cens., with knife and fork taxed 50
per cent, drinks his cup of coffee taxed AZ
per cent, or tea IS per cent, with sugar
20 per cent. seasons his foo with salt
taxed 100 per cent, pepper 2s7 per cent,
or spice S7s per cent. He looks around
upon his wife and children all taxed in the
same way; takes a chew Of tobacco taxed
100 per cent. or lights a cigar taxed 10
per cent, and then thanks his stars that
he lives in the freest and best Government
under heaven. II on the Fourth of July
Of real bunting, he must pay the Ameri-
Bunting Company OF Massachusetts
100 per cent. for this glorious privilege.
No wonder that the farmer is struggling
poverty, and conscious OF a wrong
somewhere, although he knows not
the blow comes, that is claiming
him to a life of endless toll and reducing
bis wife and children to beggary.
What is a legal protest to commercial
On this subject the Supreme
Court Of Missouri has made the following
i~ecIsion:
The Merchants Bank sued P. A. Bert
lold ct al. on a prOmissOry note protested
Tor nOn-payment At st. GeneYisye, No,
)n the oath Of Nav, 1867. The notary,
who protested it, testified that he mailed
he usual notices TO the defendants on the
Of the protest, enclosed in envelopes
addressed 10 them AT St. Louis. The no
ices and envelopes were produced In
curt and were identified by the notary,
)ut there were no remarks upon them in
Heating that they had ever passed through
he postOd1cs. The defendants testified /
hat they received the notices in st. Lou :
:, June Sth, fifteen DAYS after the protest. :
hat they were delivered to them by a
Darty not known 10 them, but who was \
Ounected with q steamboat running be-
ween Ste. Genevieye and st. Louis, and
Who was not a mail carrier; that they had \
zen unable to inc this party, although !
search had been made for him. !
me defendants then offered TO put in evil I
.snce his declarations made At the time :
4 the delivery Of the notices, which, on !
.Dj6ctiOn, the Circuit Court excluded. =
an exception was taken 70 the Su- :
Court. This objection is regarded !
y the Supreme Court as immaterial, the I
My point necessary to the suit being an !
establishment not of the deliUeTy, but the :
JrudrdiHC of the notices. If they were :
.uly forwarded from Ste. Genevieve that :
sufficient, and as there Is no question :
aised on this point, 1t is taken for
The judgment Of the lower
Ourt was consequently affirmed. 4