The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-04-02

Y
n; md .sy.ss NJ
T.s appear g be the ss
ems the % s and people Of both
Tor the removal OF the erising difficulties.
THE BANK nru-
~ hotaII rep) Or " said that IL Congress- vas to
more progress would hsve to be made 10 business. II
would be utterly impossible to do unless such progress
National Bank bi shall terminate in one minute after the
committee shall resume the OF this special
order They vet TO come before them several appro-
pration blis. including the Indian. Miscellaneous, Tax
and Bankrupt bills. II gentlemen continue making
speecnes would be considerable time before the Bank
Mr.. BKoovs. (oppl OF N Y, objected to the motion
Mr.. MORRILL, then modified his motion to make the
only.
This was agreed to-
The House then into COMMITTEES of the Whole on
the National Bank bill.
The thirty second section provides that each associa
on shall select subject 70 the approval n the Comptro
Ter ~ tne currency an association IN either OF the cities
named ~ the preceding section, at which it will redeem
its circulating notes at par.
MIR. DAVIS, (rep) OF N ", proposed TO amend by ad
uing "or sn association in the city OF New York at
which TO redeem its circulating notes at discount not
exceeding onc.ourth Of one per cent "
Mr. Hale trep.l OF Pa suggested amendment to
include Philadelphia and B,ston
Mr. DAVIS accepted the amendment.
The amendment of Mr.. DAVIS thus amended was then
rejected by a vote OF Al against so.
Mr. LAW. (opp.) OF Ind, offered amendment pro-
yidng that all profits eight per shall he paid
into the Treasury for the benefit OF the government
soners He had no faith in the BILL the Secretary Of
the Treasury WAS now at liberty TO issue notes I'D bm
The committee struck out by vote OF 54 against 80
the ninth section. which provided that association
sha pay out or put in circulation the Of any
or banking association not auiho -zed by this act
:, MT MT TRACY lren OF Pa: offered as an amendment
mat no provison contained In this bill authorizing the
use or the government bonds shall construed as
prohibit any State from imposing such taxes the dvi
Legislature seem just md equitable" He expressed tho
hope that all these great interests would exempt
from taxation while the poor mans OK horse and
other things are taxed for local ard state purposes
Mr. oER, (rep) or Mass, thought that the gentle
man misunderstood the bill II did not exclude the States
from taxing the personal property OF individuals, but
simply excluded the bonds themselves.
Mr.. ELpRDGE (opp) Of Wis. said that the provisions
Of the bill perfectly monstrous. they removed
from taxation all the capital invested in these banks.
Mr.. MORRILL,, (rep Of Vt said the capiIal OF these
which could be taxed by the governments Rut
the circulation is TO be fully taxed well as the
Mr. JAMES s Ga s u, Opp Of Ill entered his protest
dstnc ion by enabling CAPITALISTS escape State taxa.
ton, by investing their wealth in these banks.
Mr. GRSsELL, trep) Of Iowa, replied to Mr.. Edrdge,
saying the latter endcavoring TO the currency
Of the country and that the bill would save the people
from large amount Of direct taxation
Mr.. WAsuBURN, (rep) Of Mass, said the true course
was to tax all banking capital as we'll as the circulation
The peopc could not be satisfied in other way. The
banks furnishing the circulation should not alone DO
taxed
Mr.. STEVENS (rcp Of Pa said the gentleman had not
propery reflected upon the subject These banks had no
circulation, excepting what based upon bonds and
whom the bonds were taken II was under the pightcd
faith Of tho that they should not be taxed
Mr. HofcHKrss frcp.) of N. Y, offered amendment
sbcctng the bank capital to State and municipal taxa
ton He said there would be oucry against exempt
ing it, ard by such exemption the friends Of the admins.
tratop, who endeavorng to give credit and charac.
ter to the currency committing great mistake
Mr.. Hochkss' amendment rejected, AZ against "a.
After further proceedings Mr. Tracy's amendment was
rejected % against 60
Mr.. KAssoN, (rep) OF Iowa, offered an amendment,
which adopted "that the duties taxes imposed by
Congress from time to time shall be in lieu OF all her
taxes such associations
The committee have reached the forty section
Without further proceedings the committee rose and
the House, at half past four O'Clock, adjourned.
Prize Cases AdjudIcated.