New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-04-14

changes, and also in the counties where
published. The bill was passed; yeas l7S,
nays Al.
WASHINGTON.
A Demand for tho Recognition of Free
Cuba.
WASHINGTON, April l3.-The official or
gan contains an elaborate editorial declar-
| ing the present time Opportune, and gives
the reasons for an immediate recognition of
the Cuban republic. The article contains
citations from international law writer's
showing that no just cause of Offense to
Spain would arise if recognition was ac-
corded and commercial treaties entered
into with the republic prior to recogni
ton by Spain. 1t declares that our
commercial interests are greatly suf-
fering by the war in Cuba; that the
complications heretofore existing no longer
exist; that England iDtrigues for the CON
troll OF Cuban affairs and trade; that a
recognition would open new markets for
western grain growers, provision dealers,
machinists and manufacturers of the East
ern and Middle States would furnish Occu-
| patton to thousands of Southern people,
and tend to the prosperity and good feel
| ing on the part of the Southern States
toward the government. The, article, sup
posed to express President Grants vie VIZ.
Boutwell, Again In His Seat.
/ Mr.. BOutwell's health has improved. He
| is in his seat to day.
Butler and the President.
Ben Butler interviewed the President to
day.
Nominations.
James Cochran, postmaster at Culpepper
Courthouse, Virginia; Henry Carrgan, post
master at Brandon, Mississippi; A. B. Hall.
postmaster at Galveston, Texas.
The Government Printing Once all RIxht
The Printing Committee of the Senate,
which has had under consideration the man
agemenu OF the government printing office
for sew eral weeks, find nothing to condemn
In Its management under Colonel A. M.
Clapp.
Chief Justice Waite,s First Decision
Supreme Court Matters.
The Chief Justice delivered his first opin-
ion on the bench of the Supreme Court to-
day, in case from Illinois touching the
right OF the State to tax nonresident ma
tional bank shareholders at the residence
of the banks.
The members of the bar who heard it,
and his brethren On the bench, speak of it
in eulOgistic terms.
The Hon. Reverdy Johnson is compli-
mentary in his remarks both as to the
merits of the opinion and the manner of
delivery.
The present Chief Justice delivered his
first formal opinion considerably earlier
than the late Chief Justice did.
The Supreme Court to-day decided the
case of Tappan, collector of taxes, of
Chicago, against the Merchants National
Bank, OF Chicago from the Circuit Court of
Illinois, presenting the question whether
the Legislature of Illinois could in 1867 pro-
vide tor the taxation OF the owners of shares
of the capital stock of national bank in
that State at the place within the State
where the bank was located without regard
to their places of residence.
The court below decided that the tax
could not be thus laid, and the decree was
against the tax collector; that the decree is
bere reversed, the court holding that shares
of stock in national banks are personal
property. Under the national banking act
they are species of personal property, say
the court, which is in one sense intagibie
and incorporeal, but the law which creates
them may separate them from the per-
son OF the owner for the purposes of
taxation and give them situs of
their own. This has been DONE it is held
by the banking act, since the decree below
was made. The Supreme Court of Illinois
has held the State law of 1867, under which
the tax was laid, valid, and that decision is
held to be binding in the court. Its cor
rectness is also conceded.
Chief Justice Waite delivered the opinion.
The case of the Atlantic, Tennessee,
and Ohio Railroad Company and others
against the Carolina National Bank of Co
lumbus and others, from the Circuit Court
for North Carolina, was also decided to-
day. The question was whether bOnds
issued by the company in May, 1862, pay
able at different periods from November,
1869, to November, 1875, wers salable in
Confederate currency or lawful money.
Some of the bonds falling into the hands of
the bank, the company were willing to pay
in Confederate moley. but the bank de-
manded money of the United States, and
this action was instituted to compel payment
under a deed of trust executed to secure
them.
The court below sustained the demand of
the bank. and the question was brought
here where the decree is affirmed the
court holding that the intention of the com
pany that the principal of its bonds should
be paid in lawful money instead of Confed-
crate notes, may be justly inferred from the
nature of the contracts, particularly the
long period before they were to mature.
When they were issued it is said it could
not have been in the contemplation of the
parties that the war would continue from
seven to thirteen years. 1t ia well known
that at that time it was the general expecta-
ton on all sides that the war would be one
Oh snort duration. Inc Confederate notes
were only payable, by their terms, after
ratification of peace between the Confeder-
ate States and the United States.
These bonds of the railroad were in
tended for sale in the markets of the world
and not merely in the Confeder-
ate States. They were payable to bearer,
and therefore transferable by delivery.
They state on their face that they may be
into the stock of the company at
par by the holder. The declaration of the
officers of the company up to July, 1863,
show that the company treated the bonds
as having an exceptional value, and not
subject to the fuctuatiOn of Confederate
currency. Repeated declarations of the
officers were made to that import.
There is sufficient in these circum-
stances, it is held, to repel the
created by the ordinance Of
the State, of 1865, providing for the dis
charge of all existing contracts bv scale