, 1866-09-13
the lay a. not 70 Iequtsa any bank to take notes
out Of its ot II 8tAts-~~@~
1he resolution wss adoptsd.ss -

t q; ss :, ~ 20. t. bank to take ne.
1ho resolution Wa adoptsd. -
. MT1A1sT. =
Mr. Bahhage, on bchalk of the Subcommittee
'e s 'as asasa e following
amendment to section thirty Of tho National Cur
,,enSy Az: by striking out the words commanding
whereby he laws of any state dl.ereat r rate Is Is
limited fos ta,ks Of lssaa Organized under Stats
laws usa rate 80 limited shall be allowed for asso.
an" snd ikst NC v would @ rssomrasnd ] 40 no otSsr @
amendment Of sad section
Ihs leading Of The report was followed by m
gentlemen from Missouri, tela:Ive TO The axp:dt-
eheS o. eent1nnigg The fates Of interest inI.osed
gpen Naioasi BanEs osesslrea @ | urasr ustionai di
Inv, 7he proposed chsnga uas advocated by Nj.
coolba1eh n rather lengthy speech, In which he
"a lin Iowa md other States. '.'
Tho report waa adopted.
yr. Camp, from the ,omi coa,ni.ecs On r.zs.,on.
submitted report which wa hrst read - whols
aud then BY eeetlon8. The following Is The shape
ebanaes ah ase dnv mi PiE Ppin1 maady appeared few
Kfsoi1td, That i t. The eensc OF this Conren.
tion that the stock Of National Banks to The cx-
tent actually invested In Federal securities oasht
anih9sity. and that proper mellon shon}d bc taken
BY this Convention 70 ro-opefnte with thnse now
e. n aeees q ri d. 70 ssS ai1s s
Supreme Court, allowing tnd{scrimiuaic tsIadon
Hnder State authority.
r. fsS'tSa, ;cS s,s,. a6:s IN sssc 'he decision Of ths
ev1n'ned. tLcn re should nse every hunofahlo
Of the C..!tel states.
Iesc:ssd, That IN catc the decision Of The Uni
led Stnter SUPREME -Coust above rei: red to eau.
n m Nfyu1t1 fSA
nadG TO tue banking law lnItiD. NIL
iaxalon E 10 that nn1es Federal authority.
The laws 60 Gn,snded. that the proviso therein
Showing taxation nndes and BY Slate and mnuicl.
pal authority, be 80 amended that tho amount Of
euch lh1a1ioh should not exceed one and one-halt
Hso!ttd, Ihat 1t Is The sense OF fhis Convention
that unless the decision Of tic Cnled statss SD
peme ConT recently made allowing lnalscrIn,l-
nnte taxation by or under State authority eau be
reversed, q, some amendment to the National
nahRihs law can te Made, limiting the rate Of
ta1naon under s!ae laws, iAis system o. banking
lar ihtoustott the country, must be fHb}sct 10
M1 q M mo2s1
iny the balance OF the report Oh the table. He,
however, tt "i'Etsrew the mo:on gu Tue suggestion
all Sehs:c;
yin arp1y cqnally d III Nj hanks wherever
taxtLe ''Ie toHG tdt r1ld-Ep capital Of tho 1aaEe
ong lcE Gent. aud anothGs Que pct cent on the ac-
innl ontsiEnJtnE circulation, hnh let ali other
iaxcs be atsted. lie carcd not whether Ibis we're
ena5ed ~ lug General Government with State
nnu @ nne1rsl of:aniTa'iohs. hut ic Old want the
un1 t; uu tia ta1: ~ 0cneteq ihal u thIs Consen.
@ .suu sno"lo ask 1os fuch laW Congress would
FaSS1sH;e. II
~, Iamps On behalf O. the committee. exnlaned
as % INC committee and the wording Of the
icSpln.ons.
I. ,taGes, o. Spl1ns!:c!d, said that TIC GoTeEn-
shouli bc exempt iruin local n1atlon
NJ. NGi!s. Of Aonnl Carroll: agreed with lE.
.hnni;, , os+ viz ~ toIi'A t'-] otacf caplsal
Mr. Starr, ui Rockford, 1noycl 10 1ay the second
ieso,uiion on tic table. Carried.
1he islid resolution vas also ;a3icd.