New-York tribune., 1868-06-27

luton Of meeting Of settlers on the W e
trail lands, calling Congress 70 protect them III
rights Mr JULIAN CFsep, Ind) asked unanimous con
sent to Introduce and have put on rs passage
tribes to their lands is sdlyested it shah be conveyed
directly to the United States and shall DC suse5 70 .e @
jected. On motion Of Mr. GARFIELD tRep., ohol Ihe
Senate oint resolutions giving certain captures % i
Cen. Ss nJ John sedwcS. was passed Mr. B0LEs Rsp
Ark Rtr9dnsed bill for the reer M 81 Ole peoya Of
suit pending in the Circuit Court OF Franklin county, AT
kansas, TO the United States Circuit Court ~,
The House went into Committee OF the whole MT
BLAINE tMe In the CHAIR ana resumed eonsuci"'io"
Amendments to the tobacco sections having been re-
served last night, Mr.. WAsHBURN tRep, Massl moved
the pTOyso by increasing the duty on imported
cigars, from q to q so per pound. After dscusson
agreed TO.
having been read. Mr. P0MERoY crop, Kansas moved
10 strike out the section and made an argument IN sup
port OF the notion He cOntended that tho question
entirely foreign the bill which the House had instructed
the Committee ON Ways and Means to report ana tnaS
the House when 1t admitted by unanimous consent tue
resolution under which the subject reported had no
conception of the effect of admitting 1t.
ou the acS he hos sRSAS S
the destruction Of the national banking system II
hands on and destroy it, lie declared that no capital
employed in any business gave so much revenue 70 the
Government as that employed IN banking IL PAD the
which it was invested only sls,OOOOOO year,
Mr.. INGERSOLL Rep. ILL advocated the proposed
taxation OF banks declaring the banking interest OF the
country TO be an absolute monopoly. :. 80.
OF the banks In the State OF NewYork the local taxa
ton on bank from 81 to per cent and the taxation "a %
for local and national purposes as nigh as from 70 ana
in some high as 10 per cent The efect OF the
proposed legislation would be that banks would
have to reorgaze under the general banking law OF the
Mr.. BUTLER Gep MassJ moved to amend the section
by striking out the words beyond the average amount
invested In United States bonds to include in taxa
tion the capital invested In bonds. He said: We have
TO place where we try the question as to
how much OF real meaning there is in our saying that we
in favor Of taxing United states bonds want the
voice OF the House TO out whether the House Is willing
TO tax United states bonds in the hands Oh panks
II i Is not willing 70 tax them IN inc hands ot ~
will not Dc willing to tax them IN the hands OF anybody
savings banks OF the chances for dodgg here but
PLAN cold steel Gentemen walk up 70 H. IheIe Is no
doubt about its meaning here No shirklng
Mr.. POMEROY Rep, Kansas opposed the amendment.
The tax on banks Is six per cent ad t IL the Iar
Mr.. BENTON tRep., n. H. supported Mr.. Buffers
amendment argung hat u any Interest N \, inc county
Mr.. HOLMAN Dem, Ind moved an amendment, pro
vdug for payment BY banks, OF tax OF 63 per cent on
interest derived from United States bonds.
Mr.. PILE utep MOI expressed the Apprehension that
the effect OF the proposed legislation would be to drSe
injury Of the industrial interests OF farmers ana pro-
Mr. Holman's amendment was rejected.
Mr. WASHBURN rep, Mass) moved TO strike ont OF
the section the clause taxing Government deposits per
Mr. LOGAN REP, H. opposed the amendment. He
had introduced the proposition TO tax deposits IN
National Banks, because the secretary OF the treasury
had been dcposting lGoyernment funds IN few pet
bauksoDe bank IN this city, when was ms peculiar pe
Government money on deposit paying no interest whle
the Government was paying them per cent ia goa OIL
their cOlaterals -.
MIR KELLEY rep, PENN moved TO increase the tax
Government deposits from to per cent per month,
S30OO0OO0 year Of Government money on deposit "
such settled that they could take the bulk OF II ana
invest IL IN goldbearng bonds paying an average inter
cst of 10 10 per cent in CURRENCY lie proposed that
they should pay shalt of that back In this tax OF per
| MIR. ONEILL rep. PENN opposed the amendment.
The National Banks hsd been spoken ol as lhohopois
composed not OF men OF luxury but mainly Of poor men
Mr. WILSON utepr IowaJ-The theory OF the Dill seems
To be that when he collected account OF
scoudrcls cheatir 20 Government, these taxes are TO
be reduoeda nd wLfy"s honestly paid they are to
De increased lie opposed the proposed eXOrbtaht TAXA
OF banks. IL would amount to S450lO0OO per annun
At IS pr cent per annum ON their capital IL would cost
probably per cent 10 meet the expenses OF the banks
that would make n III per cent lie supposed tat gen
temen would not object To the banks paying annual dyi
dends of per cent; II then tine amount necessary tC
be earned by the banks would be lb per cent 10 cop
banks to earn ~ per cent would De To drive them into
line OF business that would bring ruin on the whole
| financial ~ stem OF the country.
MIR. PETERS rep, Me) moved 10 amend 10y providing
thai no banks shall be allowed to receive pubc money
| on deposit Agreed 10.
| Mr.. WASIBURN'S motion 10 strike out the clause tC
| tax Government deposits was defeated-5O 20 co.
| Mr.. RAUM G!ep, ll) moved TO exempt Government
| deposits, not exceeding $4,000. Agreed to.
Mr.. POMEROY moved to reduce the tax on the circu
laon from l6 to li2 per cent per month Agreed to-.
| The question was taken Mr.. BUTLER's motion tC
strike out the words beyond the average amount in
vested In United States DOnds and 1t was rcjccted-I
| tOH
MIR. BARNES moved that no public funds shall be de-
posted In any bank where Treasury Assistant Treas
/ ury is within five miles. Agreed TO.
Mr.. POmcrOys motion To strike out section los was
| agreed too To 53
Section loJ relating TO banks, expunged.
The taxation Of banks, therefore, remains under the Op
Grafton Of the existing law.
The Committee rose ana reported the bill.
Mr.. SCIlENCk moved the previous question.
The previous question WAS seconded.
Mr.. HOOPER kep., Mass.) asked unanimous consent
to offer an amendment repeating all taxes illuminating
or other mineral oil.
Objections made
The House then proceeded TO dispose OF the various
amendments reported by the Committee of the Whole,
aud they all agreed To without division down 10
the amendment on striking out section los relating to
banks and bankers
Mr. BUTLER demanded the Yeas and Nays.
The amendment striking out section l0S rejected.
Yeas 5 Nays a. so the section remains in the printed
bill.
The following is the vote in detail: