The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-09-11
From WashirEion.
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THE NEW. ORDER.
w IsurSs;rt,s. sepsamber s. The recent
order of the Secretary Of cue treasury "
sha Tinted states Treas urer, directing him
~ eycha,,re standard silver dollars Tor
s uree ,hacks'or and after September 18th, Is
|. sregarIed ar the Treasury Department as
lrnrssrtical RESUMPTION OF specie-pay ments,
more. sweeping in its effect .thanthe resu IN,
| lion act taking effect next january: liie
|. Iast-named law provides for Resumption 10
| Sums OF fifty dollars and ils muitlple, at
snh-freasuries, whereas the letter OF the
Secretary or the Treasury OF last Saturday
| makes no limit as to amount, aud prescElpes
no particular place. except the seyeral SUD
treasures, where exchange OF silver ioi
greenbacks is, to be made.
| II is thought that the effect OF the new or
der will be to wholly obliterate the SINAI. r.
naming nremium on gold, thus making pa
nor 'sijVer. and gold dollars OF equal Value
&c e;ycnlatinp mediums. It Is not thousht
that the order will place more OF Tue sLseL
| dollars in circulation. importers having
customs dues to pay will take tneir green
j hacks to obtain silver for them at one WIN
dow. and then exchange silver dollars lor
! silver certificates at another window. ms
practically makes greenbacks equal with
gold and silver for payment OF customs. IL
is not thought any amount OF silver worthy
OF consideration will be taken from the
Treasury, because, fer purposes OF COM
merce, tie greenback is preferable, and the
new ones and twos may now he had at the
Treasury in any amount.
The order issued several weeks ago
known as the one-thousand. dollar order,
which provides for sending silver dollars
in sums of from one to ten thousand dol
lars. has had the effect to take out or the
Treasury about two million dollars, making
in all something more than three millions
of dollars now in practica! circulation.
There are, therefore, ten millions OF dollars
in the Treasury, which is considered enough
for use and payment of customs IN New
York city. From three to five hundred
thousand dollars are paid in for customs
daily. " l ..-'-
The sub-Treasury at San Francisco since
the passage OF the silver bill has issued hVe
and a'haIf millions dollars in silver certlil-
Gates in payment for silver bullion, and fonr
and half millions are now in New YORK
city, having been sent on mostly by mall
which is Il fact worthy OF consideration.
There are now 10 the vaults OF the treasury
seyentv-scven millions dollars in green
backs. The greenbacks received at the
Treasury under Saturdays order in eN'
change for silver will be paid out again IN
actual course Of business.
THE TAX ON SAVINGS BANKS.
The Tnternal-Revenue Bureau thus far ha:
been able to collect but small part OF the
tax OF 1-24th OF one per cent. assessed upon
savings banks. These banks generally
claim exemption from taxation on deposit;
| 4 ssnSaO1anfS have beer
made in some cases, but the attempt to col
lect has been resisted, and now the Iniernal
Revenue Bureau is engaged in legal con
} test with the Vermont savings banks as tt
| the power OF the Bureau to enforce the col
lection Of the tax on deposits. The Comp
troller OF the Currency fora number OF year:
; has requested savings banks, trust and loar
companies 10 furnish him with reports o
their condition from time to time, aud III
framed law to submit to the Legislature:
OF the different States, requiring them to re
port to him. but the only State that passed
that law is Ohio. These banks, it is claimed
as a rule are doing business under tue name
OF savings banks, and by refusing to rcpor
their condition have evaded the tax assessed
by the Government upon national banks.
VERMONT POLITICS.
Judge Luke Z. Poland, OF Vermont. is t.
contest the seat of Justin :. Morrill, in TIT
United States Senate al the approachn!
session OF the Legislature in that State
!. Poland was elected q few DAYS ago to sea
in the lower house Of the Vermont Legls
lature for the avowed purpose OF being
candidate to succeed Morrill,, and 1t is salt
he is now trying, with good chance o
success, to be elected Speaker in order Il
increase his strength for The Senate.
TIE BALANCE OF POWER IN PENNSYLVANIA.
\ welI-informcd gentleman. thoroughly
familiar with Pennsylvania politics, has jus
; returned from a trip through the State, ant
says that there is great excitement anon!
! the old parties. The gentleman is Rcpub
, lican, but says he is satisfied that the Green
: back party will hold the balance OF powe
in the Pennsylvania Legislature. and tina
, Senator Don Cameron will probably DC de
fcated in his efforts for reelection. He say
the Greenback party cannot be bought BY
Cameron's money, and that the Democrat
will join with the Greeubackers in the lie
gislature to effect Cameron's defeat.