, 1874-12-12
MONEY AND COM MMERCE,


II14 mtcGlaQe0lI1 GDlljAuA aoA 4oAuH ItHIAlUe
lair with tho bn,,hs. Tho total nctirtty OF tho
;arkot is 1oss than fortnight ago, and appears
:, be loasonlng. The packers nso us1ng mitch
~ money tl,an thcy woro; tho jobbcrs got
.,llt as much as thoy want FROM their coi1cc-
',uu, Which have bocn unusually good.
l,eto eiill is fair tomaud beside lhcso
:,rccs. Deposits aro increasing somewhat. Which
aiken tho market easier. 1tates Of d'scount
20 unchanged at 10 por cout to regular cnsto-
.era, with concessions Of or 2 per cent to out
do borrowers, with iirat-casn security, an short
I've. Street rates arc 8@11a per cont; real os"
,atate loans nre 9Di0 por cent.
The clearinga arc 81, 100.o .o0o
Tho shipment Of cugrency to tue country waH
i,consdcrabtc. Some money 1a going to tho
Lake Superior iron region, but ita aggregate Is
lat large. ....
Receipts Of currency from tho country aro In
croasing solno"tat, day BY day, and zoino is had
from tho hog -rog.onH.
Tho rata Of New York exchange was par be-
twoon bauIa, With fcw transactons.
Tho rognlar quarterly dirdond Of per cent
on tho cnpital stock OF tho Now York Cotitral &
Hudson River railroad Company has boon de-
r)arc,l, payable ut tAo Company'e Office, on the
18th prox.
IMPORTS ASD EXPORTS or SPECIE.
Tho total imports Of spocio ut Now York since
Jan. I, 1874, hayo boon 4j.95l, 100. For tho
.a1nc tinAo n 1878, 2l7,S9o, d22.
1s7i::* 1S: Eli s:sss
lsG9............ H9-s,6lGl
Tho exports OF gold and silyor l,avo boon
s51, ,sD7, 535 since Jan. !. Tho exports from Jan.
compare as follows with previous ycara sinco
tho suspension Of spccio paymcntH:
ss7 535Iiso7. asss14 5l
elsS1 W., 1sSs. ss%sIa
lall.4....... Cj, .sal E4....-...... AG0la4Gl
isiu.."....... te,tsaM s5G76, ,55t
!......'''' oU'Iu"'soE so e'''''o4e
TAXATION OF NATIONAL nAHRs.
There is 10 much miaapprchenHlon with regard
to tho taxation Of National 13anis that it il worth
while to loot Mt tho facts Of tho caso as shown by
tho Comptroller Of tho Currency III his lust MI
nual report. It will appear from this examina-
ton That tho National Nanks, instead Of enjcying
tho almost complete Immunity from taxation
they aso popularly credited with, arc sa1od moro
heavily than auy other property holders.
The National Banks pay the Treasurer Of tho
United StatcB n tax of por cent ANNUALLY On
circulation outstanding, Of per cent ANNUALLY
OIL deposits, aud ono-llalf Of For cent annually
OH capital uot invested in unitod States bonds:
For tho tiecnl year 1874 tho National DanEs paid
MI aggregate tax Of s7,o93, 98.85, aud since tho
organization Of tho syato.l they havo paid SGs,-
1874. tho State, savings, and private banks n tue
country paid but 1887. 1g0.G7 OF nntlona taxcs.
Tho 5tato taxes paid by tho National Danka woro
SG94y45l in 1906 ;.s3 S13 12G in 1865; &9,271 ,73a
In 1801 1t is shown by Lilo reports Of tho State
Assessors that National BankB aro taxed moro
than my other cass Of corporate institutions
Priynte bankers arc seldom nsscsscd, say tho
New York Assessors, for they 1laual!y return
their capital ~ invested In Government bonds.
Merchants, and others, pay little OF no tax
on capital. on tho ground that 1t 10 bal-
anced by their indebtedness. Almost no incor~
porntcd companies niahc fair and legal returns
Tor taxation. Although tholr aggregated capital
is 52, 600, savings banks nrc asacsRcd in
but ono or two countles i'll Now York. Tho
Kationa! Banks. on tho other hand, aro required
to keep liHts Of their shareholders accessible to
State Assessors, and the datu for taxing them is
always known. The State espaid by National
llanka laat year wero at tho following rates:
New York, $50 per cent; DufIolo, Albany, and
Troy, $I.45 per cent 1}os.o.,, 2.3i; Baltimore,
2.53; Cincinnati, 2.57; Chicago, 234; 81. Lons,
2.44; st. pnul, 8.