New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-05-31
xxxsIrITH CONGRESS- First Session.
SENATE. WASHINGTON. May 30, 1854.
CALIFORNIA LAND CLAIMS.

Tbc bin TO expedite the title to land claims in
California vas called up, and after discussion during
The whole morning hour the subject was laid over
TAX BILL.
The Tax bill then came up.
Mr. COMES moved in lieu Of the fox Of per cen on
gold and silver produced from quartz min,s, beds oi
Tjyrrs &C.. the following which was adopted;
On bullion IN lump ingOi, bar, OF WhcrWise duty
done-half of one pen cenum ad yaloTei 70 De PAD b
the assayer Of the same who shall stamp the poduct o
,he ssSiy the Commissioner OF Internal Revenue
nnder direction Of the Secretary of The Treasury shan
decide: and every and all sales transfers exchanges,
at0n and expectation OF gold ot silver assayed
a. anv mint OF the United States by any private
sssayef unless stamped prescribed by general regu
istions as aforesaid, is hereby declared unlawful
~ transfer transport exchange export or deal IN
tbe sane shall be subject 70 penalty Of Sl.VV i0I
each oensc and fine not exceeding that sum, and 10
ifoprisOnmeni for term not exceeding two years nor
IT, thaa x months. No jeWcer worker. or aTtiiieer
I'M d and silver shall either of those metals except
II shall first been stamped as aforesaid IN required
by this act and every violation 81 tins section snail
sbeci the offender 10 the penalties contained herein
No person or corporation shall take transport OF cause
to tran ported exported or taken FROM the United
States an gold silver IN its natural stare uncO!ned.
AZ unaS,aed and unstamped aforesaid and for every
violation ol this provision every offender shall be sub
,eet 10 TIE penalties contained herein.
Mr. SHERMAN offered amendment to the clause in
The Tax h relating 10 banking q substitute Or the
Finance Committees amendment
Il prp, des for tax q. one. cnty fourth o. per
cent per month the average amount OF deposits
twenty fourth Of one per cent PEI month upon the
,geracc amount Of capital stock and oneffih OF one
per cen; per month on circulation OF banking iustu
lions. Sc, other than those organized under the Ma
tionsi Banking law.
Nr. HEyDEcKs did not see anything to Justify tie
Secretary IN attempting 20 strike down the State banks
As far as Indiana was concerned her people and the
people o. the West would prefer the notes OF her state
hanks 10 the issues Of Secretary Chase and yet the cir
cuatiOa OF those banks had been reduced from 100000
% q 400 vJL
hank circulation ont Of existence during the ext
Of the present state Of the Government He held that
10 allow the state banks 20 initiate their currency was
direct blow al the very Ttais Of the Government He
hei that the National Bank circulation was adequate
Toy al. purposes, and was founded upon public faith
AZ half past 4. on motion o. MI FEssENpIN' The
:. Rsie took recess till II o'clock.
EVENING SESSION.
Nj c. ARK moved various amendments IL order 10
retain Tie present official heads the Revenue bureaux,
Assessors, &c, without the requisite of new bonds,
which were adopted.
Nj. CLARK also offered an amendment as follows:
On tobacco. manufactured IL the leaf with oil The
stems IN and not having been stripped. buddod or
sweeteRed 25c; on stripped tobacco as cavcndish,
that has been sweentercd including hne-cut ijo per
pGs4ssd Il, 49,. .r.n,,o.n. 70. n..to,,s5
some Senators desiring 20 speak upon H.
AIR SHEEMANs amendment ~ reference 10 DanAs was
then considered HI modified the tax on circuatior 70
onesxil OF per centgm per month instead Oh one
tlb.
III TIgNpRIcKs opposed the amendment Of Mr. Sher-
man Hc considered il improper IN a revenue ci!! ~
st-kc q, any peculiar interest "a the States this b
ala strike with this amendment The currency OF the
West had heretofore been good that there was but
little difference in exchange. He vas opposed 20 drF-
ing iron the channels Of trade currency IN which the
people OF he West had confidence, and substitute cur
rpacy in which they had less confidence This was ar
ltrary legislation The value If our bonds, though now
above pur depended upon ability 10 pay interest on
them When there was demand for bonds and hard
times came what u value OF the currency
Mr. POWELL said what he had predicted NJ first IN
regard ~ this system o. paper currency had been a
filed and some Of the financial tnkeTing Of Secretary
Chase Woud relieve from the effects OF his OdOHs
s,t.,, or pener currency II was rotten 10 the very
core and would result in injury to any Government that
adopted IT, Secretary Chase N his financial measures,
seemed determined on adopting exploded notions ana
currency He denounced the system as the very worst
species Of wildcat banking.
At 10 O'Clock p. H. the Senate adjourned.