4 JUNE 1870, Page 3

A telegram from Washington, dated Juno the 3rd, announces that

the House of Representatives has passed an amendment to the Internal Tax Bill, imposing a tax of five per cent. upon Government bonds. The vote is denounced as partial repudia- tion, and will probably be reversed; but it is not repudiation un- less income from State bonds is taxed, while income from other sources is exempted. The Representatives, however, are doing their best to lower the value of their own securities, and costing the Union twice as much as a tax on bonds would save. Can they not see that the way to make American Consols rise, till it is possible to borrow at a lower rate, is just to let them alone? Nobody talks about the English National Debt, and everybody buys it.