The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-24
WANT TO Be RELIEVED.
Bankers Trying to Ward Off the COL
lection Of the 10 Per Cent. Tax.

! Those Who Issued Clearing House
! Certificates Don't Want to Pay the
Costs-Resolutions Adopted Asking
| Congress to Pass a Bill Now in the
House to Relieve Them From the
Payment of the Tax-Meeting of the
Executive Committee of the Georgia
| Bankers They Think
a State Law Would Be Premature
| Until Congress Has Acted on the
| Question of the Repeal Of the 10
Per Cent. Tax.
Vice President NJ. B. Lane, of the Citi-
zens' Bank, and member of the executive
committee of the Georgia Bankers Asso-
citation, is back from meeting of the
committee which has just been held in
Macon.
The committee had some important
matters to consider and there was a good
attendance, every member being present
with the exception of Col. Robt. J. Lowry,
of Atlanta, who was detained on impor-
tant business, and Mr.. j. G.. Ray, of
Griffin.
Among the most important matters be-
fore the committee was the question of
the bill now before congress looking
toward the relief of those institutions
which issued clearing house certificates
and similar circulation during the shard
times of the summer which has Just
passed, from the operations Of the 10 per
cent. tax on state bank circulation. Under
the law as it now stands they are COM
PEELED to make their returns Dec. l, and
the tax must be paid by Jan. L. and if it
is not paid on that date they will be sub
iect to a fine of 80 per cent, besides the
tax required by law, on the am cunt of
such circulation issued.
FORCED TO ISSUE CERTIFICATES.
Many institutions were forced to some
such means of relief during the hard
times and the circulation so called was
all taken in as soon as the situation was
relieved, without any harm being done.
They come within the operations of the
law, however, and unless the bill now be-
fore the House becomes law, Iand that
too very soon after congress meets, they
will be compelled to pay the tax.
Mr.. j. w. CabanisS, a brother of Con-
gresham Cabaniss, of the Sixth district,
who was present at the meeting said that
his brother had told him that the bill had
made favorable impression among a
great many congressman, and he thought
there would be no trouble about its be-
coming law soon after congress meets.
He said there seemed to be good deal of
sentiment in favor of it, and especially so
among the Georgia congressman, but
thought it would be good idea to see all
the congressman before congress assem-
bles and get them to exert their efforts in
favor Of the pas sage of the bill.
THE BILL ADVOCATED.
The executive committee adopted res
olution urging the passage of the bill, and
a special committee, consisting of Presi-
dent r. II. Plant, of the association:
Chairman John A. Davis, of the executive
committee, and ]. w. CabanisS, was APP
pointed to draw up a proper resolution
and forward copy at once to banker in
each congressional district, and urge upon
him the Importance of seeing his congress-
man at once in person and getting him to
take an active interest in the passage of
the bill. These resolutions win be sent
out at once, and each congressman will
be furnished copy. A copy of the reso-
buttons will be sent also to the president
of the board of trade in each city in the
state where one exists.
Not only this, but the bankers associa-
tons in other states will be urged to act
in unison with that of Georgia. The
secretary of the Georgia association was
instructed to notify the secretaries of the
associations in other states of the
action of the executive committee of
the Georgia association, to advise them
what had been done, and to urge CO.
operation in passing similar resolutions to
help the bill.
SAVANNAH NOT DIRECTLY INTERESTED.
While Savannah found no necessity for
issuing such a circulation, as will be re-
membered, there are many cities in Geor-
| gia which did so, and they all come under
the operations of the law. Savannah was
benefited directly by the issuance of
them in other cities, as those banks
which would have drawn on Savannah
for gfunds were enabled by the use of
| these certificates, to get along without
! doing so. This, as much as anything
! else, saved Savannah from the necessity
| of adopting the same course.
The committee also discussed the mat
| ter of the repeal of the 10 per cent. tax on
! state bank circulation. 1t took no action
on this matter, however, but preferred to
wait until congress had acted, and then
have bill prepared which they could
present to the legislature and have
passed. 1t came to the conclusion that
any action by the legislature of this kind
at the present time would be premature,
as the nature Of the action which con-
gress may take cannot now be known,
and the preparation of any state bill must
necessarily depend upon the act passed by
congress governing the matter