The sun. [volume] (New York [N.Y.]) 1833-1916, 1865-02-17

Immediately mustered out .ueh uo, -cotnmi saicnci
officers and phva,os who during the years 50.
aud 1868, were enlisted. with tho undCrstandinl
that they W serve only Tor the uucVpirc'
tc NJ: provided that such persoua Grsi take an oatf
thst they enlisted with the distinct undertaking.
and assurance that they were to serve br the un
expired term.
The HOUSE, in Committee of the wholN rreuuci
the consideration " tue smsudstory Internal Rev.
onuc Bn.
debate took plsce gu an amendment beretpfuro
offered 10y hr Huol"r proposing " iucrcssr tie
rates NJ tataon ON notes " circulation In order to
restrain ovsrissues.
Mr.. Davis sAii be was originally opposed 10 tie
National RsuElng system, but a. Il hSd now tccu
accepted 10y tho people, he desired that there
should 10 only one system Il currency on the 6aHS
Of that law.
Mr. nrooks looked on hns prop. sne 10 blot ont
the STATE Banks, Instead II curtaiiu. the currency
as was preteudei. Il would have the elect of IN
hstng H. thus porpeIrAuug atfAll on tho count 'y.
lie therefore oppose,i the amendment and all rir-
thor encroschmenta On tho rights ot thr STATE Ihc
State Militia ami STATE Courts ha, ns sircady Teen
hlottcu out.
M Holman said. that ~ tho ono hundred ami
cght millions iasucd under the N.uons' Rankin,
law, Massachusetts had one-fourth. lie submitted
whether tho smeudmeut VAS not br the purpose
Of conforming the country at srg. 20 the Interests
which had bcen secured by AassaChusgtts.
Mr.. Hooper explained that the banking capital D..
Massachusetts was sixty millions not Que laI 81
WI ch was In National banks
Mr. Holman opposed the amendment II props
ed " lay hands un the banking institutions " the
State.
Arcr further debate various p-ncndmrn's Neiu
offered and rejected. amOug tueu oue 10y Nj W .-
son, that no National bAuk az 80 stOn ate Il
shall have received rom the i'wptrylle- ~ We
Currency any uf ts notes, shsI pay out the notes
ui sny State bank bank ing asepS suon, nor s'
AZ sIste bguk OF banking Asspcstiou issue 'r i5
out any ot its own notes q ose Of any other Suic
! hunk ur banking association after the lst dhv ol
} re, isdi. THIS Was rciected-yca. ~, nay~C'
ht u,uius amendment was huaily disaftcHio To
leaving uetsy ou banks aud banking associations
ash nov stands In tho law
| Tho su,.udmsnt pr pscd by the Cvumittc, ~
WAYS aud Means assessing duty ot hNN per cent
/ Oh all excess II Incomes over 5000 and q dutv "l
ten Per cent on the excess over sSOuu, VAS amend
81 80 10 also collect the duty Ou incomes eor''d
| rom bank sud other dividends and t. collect ten
| per ceut only ON an excess over S6OOu.
Mr.. AncouN offered an amcndmcut thrt the
special income taX shall not gpply 10 IN ,wc' 'i
officers Of tue army or navy fort tie year l-da, who
| have since been discharged by reason Of disability
| ~ wounds Or by expiration OF their term OF scr
vice, Aui wherever SAID tax has been pAu II shall
to refunded. to- VAS rejected Iy i9ur ma
| iOrity.
Tho section providing aduty " SIX cents per
pound ou cotton I'LL july lst, 500 aud after tnat
date i've cents, payable ~ coiL' having uecn
| read.
Mr. Stevens moved to strike out the words ''psy.
able Ia coin" saying this section Was pcrpetuniiuy
the error Of psyiny Interest on pubic securities
aud the payment " customs IN coin We shpu''
nuI deproclsto by eu1ctmout the currency oi tho
country.
M Nssson rcplyinz, said that Il Was tie duty
Of Congress 10 SEQ that tho Treasury was strong 10
NEE, its Oh igStious. batter have forty millions
over nAn five millions too little We are import
ing ,sss than We we're last year aud We may lot
obtsin from customs ~ much coin as we may
need during the next fiscal year " meet oui obI
cations.
Mr. Morrill, urged the Committee Mt 70 str'"
out the requirement "pAyHlle ia coin"
Mr. Stevens said, thirty thousand spiudies ia hIa
town bad stopped within the last month, aud NOW,
when there was chance t. get cotton ~ urier r
revive suspended manufactures the gentleman
(nr. MORRILL, proposed " crush Oug tue ,ud -s,ry
VI the country,
NJ Stevens amendment To- strike out payable
IN coin" was adopte1
Mr. Boutwell, ole ell new section 10 taK sailed
hal per ceuIuu, aud pressed the importance "i Jas
ls-ssgS
Mr GARFIELD said, Of all tsxes those on salcs were
tho worst, they ciogsod tue moIou Vi All sort,
mater ais fuf sale.
hossrs Frank, KsssJu aud Oiell, Advocated t.t
auendmeuL psudiug VIII .ch tho COlmittce rose,
aud tue uOuso a. quarter pAs1 tea adjourned,