Year: 1870

The Ways and Means Committee have determined to
report additional section the Tariff BILL abolishng
the unnage tax of 80 cents per all coastng yes
sells. The measures reported from the Special Committee
on American Navigation Interests proposed to retain this
tax at present levied and 70 abolish all the State and
municipal taxes excepting wharfage), including CON-
pusory potage Most OF these taxes have been declared
unconstitutional The amount OF these local 6xactions
Is quite large the compulsory piloage payment alone
being estimated at s2OoOOO In view of the action
Of the Ways and Means Committee, is feared by the
coasting that Just referred to will


have to be withdrawn, the Special Committee deem 1t
impossible TO carry both. There is a general desire
pressed among the persons here who interested
in commercial marine 10 have all these fragmentary
measures withheld, at least until debate arises the
propositions reported by Mr. Lynch, when the whole
subject will be opened


The Funding bill considered to-day for the first
time by the Ways and Means Committee The discussion
general in its character. and participated in by
all the members OF the Committee. No conclusion
reached. and taken That it will be amended


is generally conceded, but In what particular
to be able to tell 1t is believed that the differ
ences which exists between the banks and Secretary
Boutwell, Will be adjusted to the satisfaction OF both
| parties. The compulsory 1ause requiring the
| banks to exchange their bonds for the
new bonds will be SO amended that the
banks will not object TO this feature The Committee
will probably the consideration of the bill to-
They hope TO have the bill ready TO report
early next week. Mr. Davis OF Massachusetts appeared
before the Banking and Currency Committee to-day, and
made argument against several Of the provisions Of
the Funding bill. The Committee have carefully consd
cred the and will take active part in the de-
bate when reported to the House for action by
Gen. schenck.


To-day Treasurer Spinner received letters from prom
nent bankers of Hartford and Philadelphia ndorsng his
letter to the President OF the NewYork Park Bank aud
expressing themselves in favor of the Funding bill as
passed. He has also received letter from the
President OF Philadelphia National Bank, in which
his letter to the Park Bank President is severely
commented upon To this letter Gen. Spinner is prepar
ing reply in which he will further sustain the ideas he
has promulgated the pending question and the general


financial policy Of the Government The banker contends
that the banks should not be compelled to take the
bonds at lower Of interest than those they
hold Gen. Spinner will show that by the LIST Of NOvem
Der next, slsO,OOOOO0 worth OF Fvetwcnty bonds will
have matured far the first five years expiration Is
concerned and that therefore the Government call
them all in and our-ffths OF the bonds held by the
banks Fvewentes the compulsion does not appear


The following letter received by Treasurer Spin.
ner, in reply to written by him to the President Of
the National Park Bank of New-York. which was pub


sl ed in THE TRIBUNE several days since:


NATIONAL PARK BANK. NEwYoRK; April s, 1870
15 M SIR have to hank yoa for the very able letter
have done the honor TO write but heretical


must beg leave differ from you both " the


y and the Justice Of the proposed attack upon the wei
probably Will public policy may dictate its passage, for
therein lies It's only strength. Attacks upon vested in
erests in democracy always in order and. like the
atrociousy unjust income tax it may oweI nactment
and continuance the very reasons which should
denim it but you may be sure That qua an men feel that
they TO be impartay assessed and taxed by these
twin measures OF wrong not dozen votes could be got
the Secretary been msed in this matter by two things


first by the usages OF force and violence engendered
by the war, when almost all for the public
safety had to override the interests OF some portion OF
Stanton and the Old Roman-ke Integrity and irmness
of Spinner were our only safeguards Second by the
m sde To- be able to ft his head
above the masmas Of party prejudces aud speak and
act for the truth and the right And It Is evident also
does not appreciate in full the credit Of
nation. He does not need the assistance of the banks
as a whole and lie has them. 1t not the amount Of
the impost that threatens repudiaton, but the |
debt of the country ought be and be funded under
uniform rate OF interest say four per cent free alike
Boutwell, have faith in his splendid position and OPP
the right asking favor OF set OF men. He has
OF the most powerful weatest nations Of the world
that will shrink duty and forget no obligation, but
spectfuliy yours JAMES l.. WORTH.


The House spent nearly four hours the Tariff bill
to-day, Committee Of the Whole. making very slow
progress Cotton goods finished, and the question
Of wooden goods reached making far only eight pages
disposed OF in bill containing so pages An animated
discussion place the section in regard to spool
thread cotton. The Committee Ways and Means pro-
posed tax cents per dozen spools, containing on
each spool than 200 yards Of thread, and for
every additional yards fractional part thereof in
excess Of yards each SPOOL six cents per dozen
spoo and in addition to the above rates 30 per cent ad
valorem. The Committee finally beaten, and the
tax left as 1t stands at six cents per dozen poos OF
not over 100 yards section added placing duty
OF 50 a dozen on corsets made OF cotton.


The adjourned to-day at O'Clock, out OF respect
TO the memory OF Gen. Geo. ii. Thomas. During the
morning hour nothing OF interest TRANSFERRED the usual
discussion on the proposition creating Joint Committee
on Indian Affairs taking place. Mr. Drake was very ye-
hemeut In denouncng the proposition. averng his con-
yicon that there was deep racay covered up in
the scheme.


Admiral Porter says that lie cannot how the
Joint resolution Of Congress BORDERING investigation Of
the facts relative sinking of the Oneida be car
red out by the Senate. The British Government has
nothing to do with matter II the laws Of Great Bri-
tain can reach Capt Eyre then he should be punished
and doubtless will be. lie says further that should
be appropriated to assist the American Minister in prose-
cutting the owners OF the Bombay and Capt Eyre by regu
lar course OF law.


The House Naval Committee at their meeting to-day
considered the question Of the line and stan rank OF the
navy The discussion principally the question Of
aboishng the executive officer as at present provided
by law. The line officers are opposed to the measure,
but tho friends staff in favor Of striking out
that provision in the bill. The Committee adjourned
without deciding the question, but will resume 1t to-
morrow in the hope Of completing the bill which they
now have before them.


Gen. Buffers subcommittee, who are investigating
the question whether Cuban bonds have been used TO
influence action Of Congress- to-day brought the sud-
ect before the full judiciary Committee. and asked to be
sustained requiring certain witnesses to answer gues-
tions which they hitherto declined to answer On
Gen Buffers statement Of facts they agreed to sustain
tho snh Committee and compel Hltnesses 70 answer all