Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-05-31
DONGhEsslONAL.
E. NJ. STANTON.


SENATE.
No business was transacted in the NOR
ming hour.
The bill to expedite the settlement Of
titles to Land claims in California being
under discussion during its continuance.
The Tax bill then came up ss unfinished
business, and discussion on the amend
ment Of Mr.. Fessenden, taxing bullion one
per cent, ensued.
The tax on bullion in Jumps, ingot, bar,
or otherwise was reduced from 5 TO 1 Of
one per cent. after considerable discussion
In regard to it.
The bill to expedite the the title to land
claims in California was called up and af-
ter DISCUSSION during the whole morning
The tax bill then came up.
HOUSE.
Mr.. Conness moved in lieu Of the tax
Of five per cent. on gold and silver pro-
duced from quartz, mines, beds Of rivers,
So, the following, which Was adopted:
On bullion in lump, ingots, bar or other
wise, duty of one half Of one per cent.
sdValorem, to be paid by the ssssyer Of
the same, who shall stamp the product Of
the assay as the Commissioner Of Internal
Revenue, under direction Of the Secretary
Of the Treasury, shall decide, and every
and all sales, transfers, exchanges, trans
portstion and expectation Of gold or sill
YER ssssyed at any mint Of the United
States, or by any private asssyer, unless
stamped as prescribed by General Reguls-
tjons as sfOres said, is hereby declared un-
lawful, and every person or corporations
who shall sell or transfer, transport, ex-
change, export or deal in the same, shsll
be subject to penalty Of 81 900 for each
offense and TO fine not exceeding that
sum, and to imprisonment or 8 term not
exceeding two years nor less than four
months. NojeWeler worker or sTti6cer in
gold and silver shall use either Of these
metals except it shall first have been
stamped as aforesaid as required by this
sct. Every part Of this section shall sub
ject the offender to the penalties contained
therein, no person or corporation shall
take, transport, or cause to be transported,
exported, or taken from the United States
any gold or silver in its natural state, un-
coined or unssssyed and unstsmped as
aforesaid, and for every violation Of this
provision, ever offender shall be subject
Mr.. Sherman offered an amendment to
the clause in the Tax bill, relative to
Banking, as q substitute for that Of the
Finance committee ss amended, it provides
for 8 tax Of one tWenty-foUrth
Of one per cent. per month on
the average amount Of deposits
are twenty fourth Of ore per cent. pei
month u 2on the average amount Of capital
stock, and fifty Of one per cent. per month
on circulation Of banking institutions, sc
other than those organized under nations
banking law.
Mr. Hendricks did not see anything Il
justify the Secretary in attempting Il
strike down the State banks. AS far 81
Indiana was was concerned, her people
and the people of the West would prefe
the notes OF her State banks to the ISSUE
Of Secretary Chase and yet the circulation
Of those banks had been reduced from nv
millions eight hundred thousand, to tW
millions four hundred thousand dollars.
Mr.. Sherman argued in favor Of legisls
ting State bank circulating out Of thei
districts during the existsnce Of the pres
ent state of the Government.
he held that to allow the State banks I
circulate their currency was s direct blol
ct the very Vitsls Of the government. h
held that the National Bank circulation
was adequate for all purposes and we
founded on public faith.
At 4.30 O'Clock, on motion Of Mr.. FeI
sender, the Senate took recess until
o'clock.