The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1863-03-06
Compromise on the Bank Duty
Section.

WASHINGTON, Feb. %. The two Houses
have compromised their differences on the
bank duty section Of tho Finance bill. as fol-
lows:
All banks. associations, corporations or
individuals issuing notes or bills for circula.
ton as currency shall be subject to pay N
duty of ono per centum each halt year, from
and after April LIST, 1868, upon the average
amount Of circulation of bills as currency
issued beyond tho amount hereafter named, i
that Is to say, banks. associations, corpora.
tions or individuals having capital of not
over 100000, 90 per centum thereof; over
100000 and not over 5000, 900, 80 per-
centum therefor over $500 900 and not over
$500, 900, 20 per centum thereof; over 3OO..
600 and not over S50O,000, GO per centum
thereof over $500, 900 and not over 5 900.
900, so per centum thereof over 81 ,OOO, OOO
and not over Sl,500,000, 40 per centum
thereof: over 81 500 900, and not over 81.
600, 900, 30 per oentum thereof; and not
over $4,000, 900, 25 per centum thereof. I'M
the case OF banks with branches, the duty
herein provided for shall DO imposed upon
the circulation Of the notes or bills OF such
branches severally. and not upon the aggre.
gate circulation of all, and the amount of
capital OF each branch shall DO consider
ed to be the amount allotted or used by such
branch, and oil such banks, associations cor
porations or individuals shall also be subject
to duty of l-2 per cent. each halfyear from
and alter the LIST of April. 1868, upon the av.
erage amount OF notes or bills not otherwise
herein taxedand outstanding rs currency dur
in six months proceeding the return herein
provided for. and the rate or tax duty impos-
ed on the circulation OF associations organized,
and the act to provide national currency,
ect., shall DO the same rs is here imposed on
the circulition Of all banks, associations, cor
porations and individuals, but shall be assess
ed and collected as required by said act.
All banks, association, corporations or in
dividuals issuing or reissuing notes or bills
for calculations as currency, ect. after April
1868. in sums representing any fractional part
Of dollar, shall be subject to and pay duty
of five per centum each halt year there.
after upon the amount OF such fractional
notes or bills 30 issued. Associations, cor
porations and individuals and all banks 70.
cciving deposits of money subjected to pay
ments in checks or drafts, except saving insti-
tutions, shall be subject to duty of one
eigh b Of one per centum each half year from
and after April l, 1868, on the average amount
of such deposits beyond the average amoant)
OF their circulating notes or bills lawfully
issued and outstanding rs currency, and list
or return shall be made and rendered within
thirty days after LIST day of October. 1863,
and each six months thereafter, to the com.
missioner of internal revenue, which shall
contain true and faithful account of theI
amount of duties ACQUIRED or which should &C.
crue on tho amount of fractional notes in cir
culation and an average amount of oil otherI
circulation and deposits for the six months
next preceding.