Year: 1865




Gold has been the whole steady, although Its hrm-
ness during the morning not fully maintained in
the afternoon Cash gold remains scarce and eighth
per cent per day the general at which 1t Is loaned
The quotations were:-


10 80 A. M....... 142h $50 P. M......... 1927
II 25 A. Mn. I43 $500 P. M.......... 142


LOO L. M......... l4zA


The foreign exchange market has been rather quiet.
Bankers ask ITO q for their sixty days bills, but
transactions have taken place low as 10oH r. Mer
camille bills quoted at 100 q, and bankers at short
sight 11o1.


The appointment OF Mr. Van Dyck, the Superinten-
dent Of the Bank Department Of this State 10 succeed
Mr. John A. Stewart SubTreasurcr, isnnounced from
Washington official authority This gives great salts
faction the financial community here, who were ap
prehensve that the Secretary Of the Treasury might fall
into the error Of giving the Office to politician
who, without understanding his duties, might at
the time be tempted TO use his position for the
promotion OF party and other purposes Mr.. Stewart
reres the presidency Of the New York Trust
Company the end of the month, and he will carry
with him the respect and esteem Of all who have had
Official relations with him.


Mr. Jacob Russo who has just resigned the position
of cashier of the hTreasuy had occupied it for six
years. and 1t is stated that he will receive
appointment in connection with all the Sub Treasuries


The waste Of trouble and saliva which is present
involved in complying with the Internal Revenue act,
with regard stamps Of great annoyance to
the business public and which calls for the estab
ishment of stamp Office, such as exists In the capitals
of each Of Kingdoms of England Ireland and Scotland
Stamped paper s bought from the stamp Offices there
and kept for sale by the law scriveners and licensed
dealers in stamps throughout the country. Bankers,
merchants and others send blank check books in large
quantities to the stamp Offices TO be stamped with press
mark and kept for use. This process involves in
dentaton OF the paper and dspenses with the use of
ink and gum. At tho same time 1t obviates |
the risk Of stamps which are affixed coming |
of which in the Of legal instruments is important
BY the of private marks also in the stamp be
ascertaned at any time in what year the impression was
made and in this way the forgery of important docu
ments has been detected. Where the stamp Office
furnishes the papcr, an extra charge is In
variably made for the came, but where the
applicant for the stamps sends his paper the net
tax only is charged. We recommended the subject 10
the attention of the Secretary Of the Treasury and the
commission OF three sitting to inquire into the ways
and means Of improving the revenue and simplifying
taxation There should be stamp oiice In the capital
sf each State and by establishing at tho headquarters
Of the Internal Revenue Department 1t could be done
with little expense beyond that necessary for pur
chasing stamping machines


The sudden disappoarance Of the leading member OF
prominent firm In the provision trzde-Eastman d Co.
is the topic Of conversation both in Wall street and on
the Produce Exchange The absconding party is re-
ported be O defaulter, under very discreditable
circumstances to an extent variously estimated
at from $780, 900 TO half million Of dollars.
1t appears that he entered into stock opera
tions some months ago, by which he made large
OF money, but the tide Of turning he was
eventually considerable loser The amount he lost in
cash was however IL is represented good authority,
too inconsderable namely S25 to be the cause Of
his failure He gave notes for balances against him with
his brokers' which maturing and unpaid, so that the
latter may he considered sufferers alike with his
other creditors. Il Ia understood that he drew
from his bankers all the money belonging to
his firm, and something more, amounting in all
10 about hundred thousand dollars. certain ware-
housenan who Is supposed 10 have acted In colusion
with him obtaining advances imaginary barrels OF
lard stored with him, Is also reported to be missing


The Secretary Of the Treasury has just issued the fol-
lowing important and timely order In relation to the
collection Of revenue 4 the Southern states:-


TREASURY DEPARTMENT June 81, 1896.


Section 30 Of the Internal Revenue act approved June
90 1864 provides that whenever the authority Of tho
United States shall have beon reestabshed In any State
where the execution Of the laws had previously been i'm
possible the provisions OF the act shall be put In force
In such State with such modification OF inappcable regu





Of collection as may be directed by the Department
without waving In any degree the rights Of the govern
men IN respect TO taxes that have or
assuming TO exonerate the taxpayer from his legal re
sponsbinty for such taxes the Department does not
deem advisable N insist at present upon their pay
men far as they payable prior 10 the establish
mont Of collection district embracing the territory In
which the taxpayer resides.


But the assessors In the several collection districts
recently established In the States lately in nsurrecton,
directed 10 require returns and to make assessments
for the several classes Of taxes for the appropriate legal
period preceding the first regular day on which tax
becomes due after the establishment OF the district that
Is 10 say in the several districts In question The proper
tar will be assessed upon the income OF the year 1894
nasmuch the tax for that due upon the 30th
day Of June, subsequently TO the establishment OF tho
district All persons found doing business for which


license required will be assessed for the proper license
from the first day of the msnth in which the district Ia
established Persons engaged In any business Tor which
monthly or quarterly returns are required TO be made,
will be assessed for the month or quarter Tor which re-
turns should be made at the hst return day after the
establishment OF the district and tho same principle
will apply TO those taxes which are payable at different


manufacturer Of tobacco for instance In district
established after the LIST and before the Goth day OF May
will be assessed upon his sales for the month OF April
When any manufactured articles found In the hands
OF purchaser and IL Is shown the satisfaction OF the
assessor that the goods actually sold and passed
out OF the hands Of the manufacturer before the COM


encement OF the period for which no Is properly tax
able the articles will not be subject TO tax IN the hands
OF the States atey In insurrecon The holder OF any
distilled spirits manufactured tobacco, or other article
which s liable seizure account OF the absence OF
inspection marks, may present TO the assessor the ev
dence that the articles I'm his hands, or under the cir
cumstances which obtain in the particular are not
subject to tax except above stated and II tho as
Is satisfied he will cause the package TO be 80
marked that they may DO identified and sold without la
bity 10 seizure.


Whenever any collector shall have reason TO believe
that the holder OF any goods which the tax has not
been paid intends 70 the same beyond the limits
OF the states lately In nsuecton and 10 evade the
Of tho tax he will seize the goods and take the
necessary steps for their condemnation unless the holder
shall give bond hereinafter prescribed for the trans
portaon expectation Of the goods shall return the
10 the assessor and pay the collector the amount
Of tax that shall be found due. In all where
seizure shall be made under these instructions the De-
facts shall justify. In the States Of Virginia. Tennessee
aud Louisiana collection districts time since