The daily Green Mountain freeman. [volume] (Montpelier, Vt.) 1861-1865, 1863-03-03
THE FINANCE BILL.
COMPROMISE ON THE BANK DUTY SECTION.


WASHINGTON Feb. %. The two Houses
have compromised their differences on the
bank duty section of the Finance bill as fol-
lows: .-.-
All banks, associations, corporations or indi-
viduals issuing notes or bills for circulation as
currency shall be subject to pay duty of one
per centum each half year, from and after April
LIST, 1868, upon the average amount of circula-
ton of bills as currency issued beyond the
amount hereafter named, that is to say, banks,
associations, cor operations or individuals having
a capital Of not over 500 600, 80 per centum
thereof; over 500, 900 and not over 5000, 900,
80 per centum thereof over 100000 and not
over 100000, 70 per centum thereof over
$500, 900 and not over $500, 900, 60 per centum
thereof; over $500,0O0 and not over 81 900 600
50 per centum thereof over 81 100000 and
not over 81 500, 900, 40 per centum thereof ;
over 81 500, 900 and not over $4,000 000 80
per centum thereof and not over $500 900,
% per centum thereof.
In the case of banks with branches, the duty
herein provided for shall be imposed upon the
circulation Of the notes or bills of such branches
seyerally, and not upon the aggregate circula-
sion of ell, and the amount OF capital OF each
branch shall BIS considered to be the amount al
lotted or used by such branch, and all such
banks, associations, corporations or individuals
shall also be subject to duty of IL per ceno.
each half year from and after the LIST of April,
1868, upon the average amount of notes or
bills not otherwise herein taxed and outstand-
ing as currency during six months preceding
the return herein provided for.
The rate of tax duty imposed on the circula-
ton of associations organized, and the act to
provide a national currency. etc., shall be the
same as is here imposed on the circulation of
all banks, associations, corporations, and ind-
viduals, but shall be assessed and collected as
required by said act.
All banks, associations, corporations or indl-
vlduals Issuing or reissuing notes or bills for
circulation or currency ETC., after April |.
1868, IN sums representing any fractional part
OF dollar, shall be subject to and pay duty
of five per centum each half year thereafter up
on the amount of such fractional notes or bills
80 issued. Associations, corporations and in
dividuals and all banks receiving deposits of
money subject to payment IN checks or drafts,
except savings Institutions shall be subject to
duty of one nth of one per centum each half
year from and after April |, 1868, on the aver
age amount of snch deposits beyond the average
amount OF their circulating notes or bills law
fully issued and outstand ng as currency, and
list or return shall be made and rendered with
thirty days after the 1st day of October, 1868,
and each six months thereafter, to the commits
soner of internal revenue, which shall contain
a true and faithful account of the amount OF
duties accrued or which should accrue on the
amount of fractional notes in circulation and an
average amount of all other circulation and de-
posts for the six months next preceding