Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1878-01-24
GRAND RAPIDS, WIS. THURSDAY, JANUARY "a, 1878.

the common agreement on all parties
interested it is thought advisable not to
lake criminal proceedings against the
officers of any of the roads until after
the points which have been submitted
10 the courts are passed upon.
THE PROPOSED INCOME TAX.
The commissioner of internal reye-
nue. does not believe that an income
tax would accomplish its object in pro-
curing revenue. He thinks that there
has been such shrinkage and such loss
of capital in private fortunes during the
last five years that an income-tax would
De practically imperative. Certain ex-
emptions wouh be necessary. All in
comes could not be assured, and the
unexempted portions would not be
worth taxing. The commissioner is al
- opposed to any further consolida-
ton of the internal revenue districts.
RESUMPTION INVESTIGATION.
The house committee on banking and
currency to-day authorized their chair
man: Gen. Ewing, to report resolution
for adoption by the house, giving the
committee power to send for persons
and papers, and otherwise make COM
plete investigation as to the amount of
coin in the country available for pur-
poses ofresumption. ...
SILVER PROSPECTS.
Senator Jones, the leader of the silver
men in congress, says that his hopes Of
satisfactory silver bill are stronger
than ever, and that the delay in the
senate will strengthen the movement
rather than weaken it. He says the
hard times are but just begun, and that
the people will soon demand silver in
every state OF the union.
TILDEN's INCOME SUIT.
A New York dispatch of the 10Th
says arguments In the case of the
United States VS.. Samuel J. Tilden,
to recover $4,000 as an annual in-
come-tax for the year of 1861. with
interest from the Both of June, 1862,
were begun this morning in the United
States district court There are nine
counts in the complaint, to all of which
demurrer is made on technical grounds,
the merits Of the case not being gone
into. 1t was decided to take up each
count separately. The first count
charges So 900 back tax for the years of
1861 and 1862 Tilden's counsel claim
that the laws passed about that time
were recognized as necessary war
measures, and annulled the law requir-
ing the payment of the income tax in
that year Judge Blatchford sustained
the demurrer, giving Tilden the first
victory.
DEATH OF A CONFEDERATE COMMODORE.
A Baltimore, Maryland, dispatch
of the 20th says Commodore George
n. Hollins died last night of para
in command Of the sloop-of-war Cyane
which bombarded Greytown, Nicara-
qua, in 1854. At the commencement
of the late civil war he entered the
confederate service.
TREASURY STATEMENT.
An Associated press telegram of JAN
of Goth says from the weekly statement
the Secretary it appears that treasury
now holds $345, ,932, $50 IN United States
bonds to secure national bank circult-
ton, and $13,663,000 to secure public
deposits. United States bonds deposits
for circulation for the week ending to-
day, 1882, 900. Bonds held for circula
ton withdrawn for the week ending to-
day, $608,000. National bank cir
culation outstanding for the week
ending to-day, = gold notes, ST.
35,120; currency, 1919, ,557 ,049.
Internal revenue receipts, $685.
266. Customs receipts, $407, ,6S1. Re
ceipts national bank notes for redemp-
ton, for the week ending to-day. com
pared with the corresponding perioti
last year-1S77, s., ,851, 900; 1873, 81, ,247-
900. Receipts to-day $756,0O0 currency;
$3,471, ,191 gold. Special fund for re.
demption of fractional currency, $1O,-
100000. Special deposit of legal ten,
ders for redemption of certificates OF
deposit, $50, ,650, 900; coin $132, SIS;
including coin certificate, $3o, 1896, 600,
outstanding legal tenders, 1916, ,943, ,776
THE WEARY PACIFIC RAILROAD BILLS.
The house committee on Pacific rail
roads to-day read arguments on the
Northern Pacific railroad bill. The ar
gumeuts were made by the attorney of
the company in advocacy Of the pro-
posed extension of time for the compile
ton Of the main line and branches.
Delegates Jacobs and J. J. McGilvea, of
Washington Territory, spoke in oppo-
sltlon so far as the extension relates to
the branch across the Cascade Noun
tains. Senator Mitchell stated that he
could not agree to the bill as offered by
the company.