Weekly national intelligencer., 1864-04-21
CONGRESSIONAL.
BANKING, CURRENCY, AND TAXES &

BANKING, CURRENCY, AND TAAES'&
The House of Representatives then took the national
bank currency BILL which after Intellectual attempt 70 lay
i. upon the table. was passed BY the following vote
a,ss s na%su A%s Hsa ss
Boyd Drooma Brown Ambrose CLARK r. Clarke oo1e oe
ass Ss11ps ss1sss f
kssy As1hs Francis ms'S'd Kellogg Saa Ksss
Mcurs MsndOs samuel ON ns & M0Ssssad s P.,isr MSg
son 3 Psnis pssa hSr Ps Wam SmH Randall Alexander
s a sn s%ss sss;;ai
williams wilder wilson wnsG @ and asD asy Augustus
p.d.a ss Of As T%
si sns0n hapTingoa Dna HsI Harding Ssnma Harris mi
Maasioa MnaR nav %n n'ff IL M Hss a1'
ss Ss Rs Scott JOHN
Wheeler, Chiffon A. White JOS White Wnnsd WOOD ana
The bill rectes that the notes for circulation issued under
this act not to exceed three hundred millions Of dollars
not than one-sXth of them to be OF less denomi-
nation than FIVE dollars Small notes are TO cease alter the
resumption Of specie payments Every association may
charge any loan discount interest Ut rate not
ing seven per centum per annum The places Of redemp
ton are St Louis, Louisville Chicago Detroit, Mwau-
kee New Orleans Cincinnati, Cleveland, Pittsburgh Balti
more, Philadelphs Boston New York, Albany San Fran
CISCO and Portland Each association shall select an as
socaton 10 either Of the cities here named ut which 1t
will redeem its circulating notes par but association
is to be relieved from its liability to redeem It's circulating
notes at its counter at No association shall have
than two hundred thousand dollars if n city Of more than
fifty thousand inhabitants Nothing in this act to be
construed to prevent the axatons at market value OF the
shares any of the associations from State or corporation
tax The shareholders Of each association formed under
this act and Of each existing banking association which
may accept its provisions shall be held individually repon
sbe equally and rateaby and not for another for all
Contracts debts and engagements Of such association to
the extent of the amount OF their stock therein at the par
value in addition to the amount invested in shares except
ing that the of any banking association having
not less than five mcns of dollars actually paid in its
capital stock shall be liable only to the amount invested in
their shares Any State bank may become national
association by the presented in it's organization
certificate Nothing in the act is to be construed to
the taxation by States OF the capital OF stock
OF banks the property OF other moneyed cor
poratons for State municipal purposes But no State
shall impose any capital, circulation dividends
at higher rate than the taxation imposed by such State
the amount of moneyed capital 10 the hands OF in.
dvdua ctzens DO State tax can be on any part
of the capital stock Of such association invested in bonds
Of the United States Deposited as security for the circu
latiOn. 8 s.t ts.f.. a ae4l shh - ~.
CURRENCY AND TAXES t'1. taaa. 7
Mr. ARNOLD offered the following resolutions, which
were agreed to; 3gn
Resoved That In the present condition of country and
it's finances is the imperative duty Of Congress 70 raise the
taxation as increase the revenue Of the vera
ment and that for this purpose much higher rate OF duties
should be imposed uxures imported from abroad, and
higher rate of taxation all Injuries produces the United
States. ~ .y.sr. #tat3
Resoped That the expansion of the bank circulation Of the
country producing general and Iunons Effects should be re-
pressed by taxing the issues of State Banks a4sy,
Mr.. HOLMAN, of Indiana offered a resolution declar-
ing, the judgment Of the House, that the present de-
ranged condition OF the public finances of the country
only be efscualy remeded by reducing the amount of
the paper currency of the couDtyi and that the only
effective remedy the Committee of Ways and Means be
instructed to report bill repeating the national bank law,
approved February 25 1863 and limiting paper circua
ton to legal tender notes provided by the Treasury De-
partment under authority of Congress.
The House-yeas Al, nays 66-refused to suspend the
rules to consider the resolution.
cu,r, r.u.-- -
joint resolution: ,s
Resored That for sixty days after the passage of this
solu ion all duties imported goods wares and merchan
dse now provided by law shall be increased by the addition
Of fifty per cent thereto. % .t t.'f.
The SPEAKER ruled that this resolution being in the
nature of tax bull must go to the Committee of the
Whole on the state Of the Union.
Mr. STEVENS, at q later hour in the day, renewed
this resolution.
Mr.. j. G. ALLEN objected to the resolution
Mr. STEVENS moved suspension of the rules in order
to consider the subjects but the question decided in
the negatve-S0 against 45-there not being twothrds
INCREASED DUTIES
Mr. STEVENS again introduced his resolution for
doubling the foreign dues and to tax articles now ad
mtted duty free ten per centum.
The House refused suspend the rules-yeas 72 nays
80; not two-thirds The vote follows;
BALDWIN, Baxter Blaine Boutwell, Brooma
briggs pSaoa fsntcn I Franz dsrssd ooss o1nn 4%o
Rsy S,shsi' xsshsi Hubbard John Hubbard
k's sa1 as @aH aS. ss a%s
Myers Norton Charles oNei 0rth Patterson Paham Pike Pome
Edward Rollins shannon Sloan Smith,
burne William D. WsshSarn wilder, Wilson, WINDOW
man-T2 3. I9e.- .H {.
NAYs-Messr James c. Allen Brooks Chanlor Clay Corroth
Crayens Dawson Dennon Eden, Eldrdge Fnck Grde Hail.
h1S ssaPR T l. hsas
Morris Noble Pendeon Robinson, Rogers Ross Stiles stroue
Stuart Voorhees,, Chiffon White Joseph w White
Wood-SS. .t
Mr. MORRILL, offered resolution similar to Mr.
hut that tha
duties foreign goods shall DO twenty per cent and
upon goods exempt from duty I've cents He moved
suspension Of the rules, but no quorum voted.
INCREASE OF TAXES
The House Tuesday last went into Committee Of the
Whole (Mr WAsHBURNE Of Illinois, the chair) on the
state Of the Union and proceeded to the of
the bin to provide internal revenue to support the Govern
ment to pay interest the public debt and for other
purposes. .f
Mr.. MORRILL, explained the provisions Of the BILL
The war having continued longer than anticipated il
necessary to revise estimates cover
all deficiencies The demands upon the Treasury are un
precedented, but equal to any emer
gency good bad The receipts from this bill and from
duties foreign mporations will pay the ordinary ex-
pepses Of hundred millions annually and will also pay
the interest debt Of three thousand millions should
il reach that amount, with remainder which will
provide most respectable sinking fund besides IL the
bill should pass IL will show that we will maintain our
financial credit at all hazards We are now receiving
under the present law forty to fifty per cent more than
last year Even now the revenue from the internal tax
anticipated, 10 important to the Treasury
than the from imports and both even now are
pass this without curtaing the rates we shall
furnish proof that On