The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-01-01
I FROM WASHINGTON.
,r =, :, to- J, J. =, 7plyadeneIs, &c.

r.
& Special Correspondents OF the Baltimore Gazette.
S WtsaIsaroN, December 29.-The Commits
ssoner of Internal Revenue decided to-day
5 that the provisions of section fifteen OF the
1 act OF July 18th, 1870, relating to taxes on
i dividends, scrip, coupons, &C., shall be ex'
tended so as TO apply to such obligations
= payable on January 1Bt, 1872. This decision
will not be promulgated till some time next
week, the object being to delay 1t till after the
dividends, &C., are paid. 1t will give rise TO
considerable discussion in some cases, and
perhaps an explanatory act Of Congress. The
Senate has now under consideration bill
from the Finance Committee deehratory OF
the meaning of the very section OF the ACT
under which this collection will be made. l.
declares that it should not have bean enforced
In cases where dividends, &C., were pald dli-
ring the last five months Of 1870. The Revenue
Bureau has already collected the TAX on aiFi-
faends, &c, paid during that time. ana those
who have paid them think they ought TO DC
EXEMPTED now to offset that ovcr-payment.
I ThefulI effect Of the decision cannot become
I a,>s,arent till next week, but it is probable
that the Senate will amend its declaratory ACT
Z 80 as to enforce collection Of dividends, &c.,
declared by corporations, to all amount equal
to "a per cent. Of each dividend declared
r during the years 1870 and 1871. This is said
to have been the original intention OF Con-
gress, and the adjustment on that basis
would have the effect Of equalizing all taxa
ton of this character Oh railroads, banks,
and other corporations. 1t would also tax
them on their income to precisely the amount
individuals are taxed, and Senator Scott, who
has had the matter In charge, says that was
the intention Of Congress when the law was
nassed. DATA.
MIR. Boutwell, and tho Money Market.
WAsH1SGroS, December 29.-Adyices from
New York represent that the policy OF Secre-
tary Boutwell, In continuing his sales OF GOLD,
and decreasing his purchase Of bonds for the
present month, has had the effect to create
stringent money market and to lock up
twenty millions Of currency. While 1t IS
true that there is q stringent money market,
the amount of currency on hand in the Trcl-
s,Iry is exaggerated. The currency balance
to-day showed an average condition, being a
little In excess Of ten millions, while the coin
balance, including coin certificates, was MS
high as hundred and ten millions. This will
Of course be reduced by the January interest
on Monday next twenty-four millions. One
reason why no more bonds have been pul-
chased this year is because the whole amount
allowed by law for the sinking fund has been
absorbed. Owing to the low premium Oil
gold, the lowest point reached since the pass
age of the legal-tendcr act, it is said to be an
open question ut the Treasury as to Whe-
Their the bond.purchasing and goldscllinS
policy shall be continued with the new year.
In addition to the notice already issued for
redemption, there arc forty millions more of
the first series of the flve-twenticS of 1862 to
'fsbe redeemed, which the Secretary can pay of
!, after the required three months notice, with
<out buying in lots at a premium. as at pres
cnt. There is some reason to believe, though
Mr.. Boutwell, is, as usual, very reticent, that
this course will be pursued. Itwould be but
fultilment Of the position assumed in his re-
cent annual report that the Government can
reduce taxation again and yet pay of fifty
millions Of dollars of the public debt every
wear. 1t, of course, remains To nc ,ron il til"
gold premium would be kept down in that
event.
The Reported Fifty-Doilar Counterfeit.
The report that countrfeits on the $50 new
issues have made their appearance is not
credited by General Spinner, he having re-
ceivcd no information OH the subject, while
one Of the Treasury secret service corps who
has made special inquiries pronounces the re-
Port without foundation.