Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1868-06-15

lnca,es for the purpose OF relieving and re-
firing the remaining outstanding compound
interest notes. Referred 10 the COMMITTEE
on Finance.
The Senate then went into Executive
session and soon after adjourned
Housn motion o. Mr. Clark, Of Kan.
sas, the President was asked for further in
formation relative TO the treaty for tue
lands OF the Osaee Indians, and requested
10 withhold the treaty from the Senate.
Mr. Julian introduced bill relative 10
lands sold for non-payment OF Federal
taxes, or under judgment or decree Of the
United States Courts in the States lately Ia
rebellion. Referred 10 the Committee on
Public Lands.
The bill for the relief OF tie widows and
heirs of Thomas w. Harvey. deceased. the
wood screw patentee, was discussed until
the expiration of the morning hour, and
went over till next Friday.
Mr. Logan gave notice that he would on
next Monday move TO suspend the rules 10
oil-r a resolution authorizing the appoint
ment of committee 10 select site Tor the
United States Capital, on account OF the dis
turbing element constantly showing itself
in Washington with such bitterness toward
the loyal people. and disregard OF The
authority OF the United States.
A he House AZ ~ pact - WCut
into Committee, and resumed a discussion
of the tax bill, the section before the Com
miliee being that relating 10 banks and
bankers, (section ll3) After a debate the
question was taken on the amendment Of
tered by Mr.. Price last night, as modified to
reduce the tax on circulation from one sixth
of one per cent. per month to one-twelith
OF one per cent. per month. On vote by
tellers there were 81 voting in the afiirma
tive and 81 in the negative. The chairman,
Mr.. Pomeroy, voted in the affirmative, and
the amendment was adopted
Mr.. Schenck moved to add tax OF one
quarter OF one per cent each month, on an
average amount with the public moneys in
| possession TO the credit Of the Treasurer, or
any disbursing officer Of the United States.
Agreed to.
Mr.. Randall moved 10 add Z provision
that no money authorized to be collected
under this bill shall be deposited in ma
tional bank In any city or place here a
| Treasurer or an Assistant Treasurer OF the
United States is located. Agreed to.
Mr.. Maynard moved to amend by in
crcasing the tax on deposits from on. fourth
to onehalf per cent. per month. Agree
to.
Mr. Blaine, OF Maine, moved 10 strike ou
the provso exemptng savings banks from
taxation on deposits. Rejected.
Mr.. Holman moved to amend the sector
by taxing United States bonds owned by
banks per cent. per annum. Rejected BY
90 to 10.
The section. as amended, imposes tax o
one-twelith of one per cent. each month OF
} an average with the amount Of deposits o
, money other than public moneys of tn
United States a tax OF one-iourth of on
per cent each month on an average will
, the amount OF public moneys on deposit
a tax of ono-fourth of one per cent. pc
month on capital beyond an average witt
the amount invested in United States bonds
and a tax OF one-tweifh OF one per cent
: on average with the amount Of circulation
Section III, which taxes State banks /
: per cent on their circulation is being read
Mr.. morrill, moved 10 amend, providing
the section shall no. apply 70 banks tha
c are IN liquidation and have not issued note
/, Tor circulation for more than one year.
i Agreed TO.
Mr.. Hubbard, Of West Virginia, offered
new section to tax United States interes
bearing bonds, whether he. by any perso
bunk, association, company, or corporation
one per cent. per annum.
Mr. Holman PROPOSED q substitute taxin
nied States bonds one half per cent pc
annum. Rejected by 20 10 -.
Mr.. IIubbard's proposition was rejected.
Session lis, taxing brokers' sales, wa
Nc. amended.
Mr.. Peters moved an additional section
imposing a tax of two per cent on the gros
, receipts of safe deposit companies. Agree
to.
Section 1lo, taxing transportation comps
= mics, having been read, Mr.. Twitchel NOV
i alf T., rpyn thptoV tho Yarpipt
from two and half TO two per cent Ate
discussion the amendment was agreed TO.
Sir Cornell moved TO amend by MAXIM
the tax on ateamhoats, &c, to he in lieu c
all tonnage. REJECTED.
Nj Coburn moved to amend by cXemp.
7 ing from tax horse railroad cars in cite
: AMI towns OF less than 5000 population
where TIER gross receipts Tor the prccedin
, wear do not exceed their gross expenses.
4 MI. Pile moved 10 amend the ancndmen
| 10y striking CIT the reference 10 population
. Agreed t..
, Mr.. Columns ain r1ment as amended va
then agreed 10.
MIR. Trmblc, Of kentucky, novel til
exemption OF companies whose gross n
Q ceipls 90 not exceed - Geo per annum !
y extended 10 $1,000. Ktieclcd.
MIR. lligbee moved 10 amend by exemp
i ing ircm tax stage coach companies. II
ecte0.
y Mr. briggs moved to exempt from I,
a steamboats, whose receipts have not pal
!. actual expenses. Rejected.
Mr.. Ingersol moved 10 amend by strikin
: out two per cent. on the gross receipts c
(, transportation companies, and insertin
seven per cent on the net receipts. Reicc
| cd, - to 10
:. Mr. Trimble moved to exempt from IN
:. companies whose gross annual receipts d
q not exceed 81 ,000; instead OF $2 600. Agree
10.
o Mr.. Cobb moved a proviso that ralroa
companies which had received grants
land from the Government of the Unite
States shall pay four per cent. on their gro.
receipts. Rejected.
Section 100, taxing telegraph compani,
: was considered
70 On motion of Mr.. Schenck the tax O
j. gross receipts of express companies was r.
duced to 9; per cent. tax on gross receipts
d on those of telegraph companies at thrt
= per cent.
The Committee rose and the Uou.
adjourned