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burgh, Wadsworth, Ward, Whaley, Wheeler, Chilton A. White, Joseph W. White, Winfield—71.

NAYS-Messrs Alley, Allison, Ames, Anderson, Arnold, John D. Baldwin, Baxter, Beaman, Blaine, Blair, Blow, Boutwell, Boyd, Broomall, William G. Brown, Cobb, Cole, Creswell, Henry Winter Davis, Thomas T. Davis, Demi g, Dixon, Donnelly, Drings, Eckley, Eliot, Fenton. Garfield, Gooch, Hale, Higby, Hooper, Asahel W. Hubbard, John H. Hubbard, Hulburd, Ingersoll, Jenckes, Julian, Kelley, Francis W. Kellogg, Orlando Kellogg, Littlejohn, Loan, Longyear, Marvin, McBride, McClurg, McIndoe, Moorhead, Daniel Morris, Amos Myers, Leonard Myers, Norton, Chas. O'Neill, Orth, Perham, Pike, Alexander H. Rice, John H. Rice, Edward H. Rollins, Schenck, Scofield, Shannon, Sloan, Smith, Smithers, Spalding, Stevens, Thayer. Upson, Ellihu B. Washburne, Wm. B. Washburn, Webster, Williams, Wilder, Wilson, Windom-77.

Taxation.

THE INTERNAL REVENUE AND TARIFF ACT OF 1861. First Session, Thirty-Seventh Congress. The bill to provide increased revenue from imports, &c., passed the House August 2, 1861 -yeas 89, nays 39. The NAYS were:

IN SENATE.

May 29-Mr. SUMNER offered this new section: That an annual tax of five dollars shall be paid by every person or persons, corporation, or society, for and on ac count of the service or labor of every other pers between the ages of ten and sixty-five years, whose service or labor, for a term of years or for life, is claimed to be owned by such first mentioned person or persons, corporation, or society, whether in a fiduciary capacity, or otherwise, under and by virtue of the laws or customs of any State; and said annual tax shall be levied and collected of the person of their goods, chattels, or lands, as is hereinbefore proor persons, corporation, or society, making such claim, and vided; but in no case shall the person or persons whose service or labor is so claimed, or their service or labor, be sold for the purpose of collecting said tax: Provided, That this tax shall not apply to service due to parents.

Mr. HENDERSON moved to add this proviso: That the tax herein prescribed shall not be levied or collected in any State where a system of gradual emancipation may have been adopted at the time of the collection. Which was rejected-yeas 15, nays 20, as follows:

YEAS-Messrs. Browning, Dixon, Doolittle, Grimes, Hale, Harlan, Harris, Howe, Lane of Indiana, Pomeroy, Sherman, Ten Eyck, Wiley, Wilson of Massachusetts, Wright, NAYS-Messrs. Anthony, Carlile, Chandler, Clark, Col. lamer, Cowan, Davis, Fessenden, Foster, Howard, Kennedy, King, Lane of Kansas, Morrill, Powell, Saulsbury, Sumner, Trumbull, Wilkinson, Wilmot-20.

Messrs. Allen, Ancona, Beaman, Burnett, Cox, Cravens, Crittenden, Dunlap, English, Grider, Haight, Harding, Holman, Jackson, Johnson, Law, Logan, Mallory. May, Menzies, Mor--15. ris, Noble, Norton, Odell, Pendleton, Reid, James S. Rollins, Shiel, Smith, Trowbridge, Vallandigham, Vibbard, Voorhees, Wadsworth, Ward, Webster, Chilton A. White, Woodruff, Wright-39.

Same day, it passed the Senate-yeas 34, nays 8, (Messrs. Breckinridge, Bright, Johnson of Missouri, Kennedy, Latham, Polk, Powell, Saulsbury.)

Mr. FESSENDEN moved to amend Mr. SUMNER's, by reducing the tax from five to two dollars, which was agreed to:

YEAS-Messrs. Anthony, Browning, Chandler, Clark, Collamer, Cowan, Daris, Dixon, Doolittle, Fessenden, Foster, Grimes, Hale, Harlan, Harris, Howard, Howe, Kennedy, Lane of Indiana, Lane of Kansas, Morrill, Powell, Sherman, Simmons, Ten Eyck, Wade, Willey, Wright-28. NAYS-Messrs. Carlile, King, Latham, McDougall, Pome

THE INTERNAL REVENUE ACT OF 1862. Second Session, Thirty-Seventh Congress. 1862, April 8-The House passed the bill to provide internal revenue, support the Govern-roy, Saulsbury, Sumner, Trumbull, Wilmot, Wilson of Masment, and pay interest on the public debt-sachusetts-10. yeas 126, nays 15. The NAYS were

Mr. SUMNER'S amendment was then rejected Cox,-yeas 14, nays 22, as follows:

Messrs. William Allen, George H. Browne, Buffinton, Kerrigan, Knapp, Law, Norton, Pendleton, Richardson, Shiel, Vallandigham, Voorhees, Chilton A. White, Wickliffe

-15.

June 6—The bill passed in the Senate-yeas 37, nay 1, (Mr. Powell.)

TAX ON SLAVES.

While this bill was pending in the House, April 8-Mr. BLAIR, of Missouri, offered this as a new section:

SEC. That any person who shall claim to own the service or labor for life of any person under the laws of any State, shall pay on account of the service of each person so held the sum of two dollars.

Which was rejected-yeas 51, nays 76, as follows:

YEAS-Messrs. Aldrich, Arnold, Babbitt, Baxter, Beaman, Francis P. Blair, Samuel S. Blair, Blake, Campbell, Clark, Clements, Colfax, Frederick A. Conkling, Roscoe Conkling, Covodo, Davis, Dawes, Duell, Edgerton, Eliot, Fessenden, Gurley, Hanchett, Hickman, Kelley, Francis W. Kellogg, Killinger, Lansing, Loomis, McPherson, Mitchell, MoorLead, Anson P. Morrill, Justin S. Morrill, Olin, Patton, Pike, John H. Rice, Edward H. Rollins, Shanks, Sherman, Sloan,

Spanding, Stevens, Van Valkenburgh, Verree, Wallace, E.

P. Walton, Wheeler, Wilson, Windom-51.

NAYS-Messrs. Allen, Alley, Baker, Biddle, Bingham, Jacob B. Blair, William G. Brown, Buffinton, Calvert, Chamberlain, Cobb, Corning, Cox, Cravens, Crittenden, Delaplaine, Diven, Dunlap, Dunn, Edwards, English, Fisher, Frank, Granger, Grider, Haight, Hale, Hall, Harding, Harrison, Hooper, Horton, Hutchins, Julian, Kerrigan, Knapp, Law, Lazar, Leary, Lehman, Lovejoy, Mallory, Menzies, Noble, Noell, Norton, Nugen, Pendleton, Perry, Timothy G. Phelps, Pomeroy, Porter, Potter, Price, Alexander H. Rice, Riddle, James S. Rollins, Sargent, Sheffield, Sheilabarger, Shiel, Smith, John B. Steele, William G. Steele, Stratton, Benjamin F. Thomas, Francis Thomas, Trowbridge, Vallandigham, Van Horn, Wadsworth, Webster, Albert S. White, Chilton A. White, Wickliffe, Wright—76

YEAS-Messrs. Anthony, Clark, Fessenden, Grimes, Harlan, Howard, Howe, King, Lane of Kansas, Morrill, Simmons, Sumner, Trumbull, Wade-14.

Dixon, Doolittle, Foster, Hale, Harris, Kennedy, Lane of NAYS-Messrs. Bayard, Browning, Carlile, Cowan, Davis,

Indiana, Latham, McDougall, Pomeroy, Powell, Saulsbury, Sherman, Ten Eyck, Willey, Wilson of Massachusetts, Wright-22.

June 5-Mr. SUMNER offered this as a new section:

That every person claiming the service or labor of any other person as a slave, shall pay a tax of two dollars on account of every person so claimed. But in no case shall any person so claimed be sold for the purpose of collecting

the tax.

Which was agreed to-yeas 19, nays 16, as follows:

YEAS-Messrs. Anthony, Chandler, Clark, Collamer, Fessenden, Foot, Grimes, Harlan, Howard, Howe, King, Morrill, Pomeroy, Rice, Simmons, Sumner, Wilkinson, Wilmot-19.

NAYS-Messrs. Browning, Carlile, Cowan, Davis, Dixon, Doolittle, Foster, Hale, Lane of Indiana, Latham, Nesmith, Powell, Willey, Wilson of Massachusetts, Wright-16.

this vote; which was agreed to—yeas 22, nays

June 6-Mr. ANTHONY moved to reconsider

18, as follows:

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years of age," which was agreed to, and the TAXES IN INSURRECTIONARY DISTRICTS, 1864. amendment, as amended, was then rejected— year 17, nays 23, as follows:

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First Session, Thirty-Eighth Congress.

INTERNAL REVENUE ACT OF 1864.

April 28-The House passed the act of 1864 -yeas 110, nays 39. The NAYS were:

Messrs. James C. Ailen, William J. Allen, Ancona, Brooks, Chanler, Cor, Dawson, Jenism, Eden, Eldridge, Finch, Harrington, Benjamin G. Farris, Herrick, Philip Johnson, William Johnson, Knapp, Law, Le Blond, Long, Marcy, Mc Dowell, McKinney, James K. Morris, Morrison, Noble, John O'Neill, Pendleton, Fry, Robinson, Ross, Stiles, Strouse, Stuart, Voorhees, Ward, Chilton A. White, Joseph W. White, Fernando Wood-39.

June 6-The Senate amended and passed the bill--yeas 22, nays 3, (Meurs. Davis, Hendricks, Powell.)

The bill, as finally agreed upon by a Committee of Conference, passed without a division.

TARIFF ACT OF 1862. ̧

Second Session, Thirty-Seventh Congress.
IN HOUSE.

1862, July 1-The House passed, without a division, a bill increasing temporarily the duties on imports, and for other purposes.

IN SENATE.

June 27-The bill passed the Senate withont a division.

July 2-It passed the House without a division.

The National Currency Act* of 1863.

Third Session, Thirty-Seventh Congress.
IN SENATE.

1863, February 12-The bill passed—yeas 23, nays 21, as follows:

YEAS-Messrs. Anthony, Arnold, Chandler, Clark, Doolittle, Fessenden, Foster, Harding, Harlan, Harris, Howard, Howe, Lane of Kansas, Morrill, Nesmith, Pomeroy, Sherman, Sumner, Ten Eyck, Wade, Wilkinson, Wilmot, Wilson of Massachusetts-23.

* January 17-The President sent this message to Con gress:

To the Senate and House of Representatives:

I have signed the joint resolution to provide for the immedinte payment of the army and navy of the United States, passed by the House of Representatives on the 14th and by

the Senate on the 15th instant.

The joint resolution is a simple authority, amounting, however, under existing circumstances, to a direction to the Secretary of the Treasury to make an additional issue of $100,000,000 in United States notes, if so much money is needed, for the payment of the army and navy.

My approval is given in order that every possible facility may be afforded for the prompt discharge of all arrears of pay due to our soldiers and our sailors.

While giving this approval, however, I think it my duty to express my sincere regret that it has been found necessary to authorize so large an additional issue of United States notes when this circulation, and that of the sus pended banks together, have become already so redundant as to increase prices beyond real values, thereby augmentJuly 8-The Senate passed it without a di-ing the cost of living to the injury of labor, and the cost of vision.

THE TARIFF ACT OF 1864.

supplies to the injury of the whole country.

It seems very plain that the continued issues of United States notes, without any check to the issues of suspended

June 4-The House passed the bill-yeas 81, banks and without adequate provision for the raising of nays 28. The NAYS were:

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June 17-The Senate passed the bill--yeas 22, nays 5, (Messrs. Buckalew, Hennicks, McDougall, Powell, Richardson.)

TAXES IN INSURRECTIONARY DISTRIOS, 1862. Second Session, Thirty-Seventh congress. 1862, May 12-The bill for the collection of taxes in the insurrectionary districts passed the Senate-yeas 32, nays 3, as follows:

YEAS-Messrs. Anthony, Browning, Chandler, Clark,
Davis, Dixon, Doolittle, Fessenden, Foot, Futer, Harlan,
Harris, Henderson, Howe, King, Lane of Indiana, Lane of
Kansas, Latham, McDougall, Morrill, Nesve-th, Pomeroy,
Rice, Sherman, Suniner, Ten Eyck, TrumbuJ. Wade, Wil-
kinson, Willey, Wilson of Massachusetts, Wright—32.
NAYS-Messrs. Howard, Powell, Saulsburg -D.

money by loans, and for funding the issues so as to keep them within due limits, must soon produce disastrous conthat I feel bound to avail myself of this occasion to ask the sequences. And this matter appears to me so important especial attention of Congress to it.

the country can hardly admit of a doubt; and that a ju That Congress has power to regulate the currency of dicious measure to prevent the deterioration of this currency, by a reasonable taxation of bank circulation or otherwise, is needed, seems equally clear. Independently

of this general consideration, it would be unjust to the people at large to exempt banks enjoying the special privilege of circulation from their just proportion of the public

burdens.

In order to raise money by way of loans most easily and cheaply, it is clearly necessary to give every possible support to the public credit. To that end, a uniform currency, in which taxes, subscriptions to loans, and all other ordinary public du s, as well as all private dues, may be paid, is almost if not quite indispensable. Such a currency can be furnished by banking associations, organized under a general act of Congress, as suggested in my message at the beginning of the present session. The securing of this circulation by the pledge of United States bonds, as therein suggested, would still further facilitate loans, by increasing the present and causing a future demand for such bonds.

In view of the actual financial embarrassments of the Government, and of the greater embarrassments sure to come if the necessary means of relief be not afforded, I feel that I should not perform my duty by a simple an

May 28 The bill passed House- yeas 98, nouncement of my approval of the joint resolution which nays 17.

The NAYS were:

Messrs. Biddle, Culvert, Cravens, Johnson, Kerrigan, Law, Mallory, Menzies, Noble, Norton, Pendleton, Pur, Francis Thomas, Vallandigham, Ward, Wickliffe, Wood: -17.

proposes relief only by increasing circulation, without exstance as those I have just referred to, may receive the pressing my earnest desire that measures, such in subearly sanction of Congress.

By such measures, in my opinion, will payment be most certainly secured, not only to the army and navy, but to all honest creditors of the Government, and satisfactory Leh-provision made for future demands on the Treasury. ABRAHAM LINCOLN.

The Democrats who voted AYE were:
Messrs. Ancona, Baily, Cobb, English, Haight, Holman,
man, Odell. Phelps, Richardson, James S. Kollins, Sheffield,
Smith, John B. Stele, Wm. G. Steele-14.

January 17, 1863.

NAYS-Messrs. Carlile, Collamer, Cowan, Davis, Dixon, | fifty, one hundred, five hundred, and one thou-
Foot, Grimes, Henderson, Hicks, Kennedy, King, Latham, sand dollars-yeas 76, nays 54, as follows:
M Dow jall, Powell, Rice, Richardson, Saulsbury, Trumbull,
Turpie, Wall, Wilson of Missouri-21.

IN HOUSE.

YEAS-Messrs. Alley, Allisou, Ames, Anderson, Ashley, John D. Baldwin, Baxter, Beaman, Blaine, Blow, Boutwell, Boyd, Broomall, Ambrose W. Clark, Cobb, Cole, Dixon, Donnelly, Driggs, Eckley, Eliot, Frank, Ganson, Gooch, John H. Hubbard, Jenckes, Julian, Kasson, Kelley, Francis W. Kellogg, Orlando Kellogg, Loan, Longyear, Marvin, YEAS-Messrs. Aldrich, Alley, Ashley, Babbitt, Beaman, McBride, McClurg, Samuel F. Miller, Moorhead, Morrill, Bingham, Jacob B. Blair, Blake, Buflinton, Calvert, Camp Daniel Morris, Amos Myers, Leonard Myers, Charles O'Neill, bell, Casey, Chamberlain, Clements, Colfax, Conway, Co-Orth, Patterson, Perham, Pomeroy, Price, Pruyn, Radford, vole, Cutler, Davis, Delano, Dunn, Edgerton, Eliot, Ely, William H. Randall, Alexander H. Rice, John H. Rice, Fenton, Samuel C. Fessendon, Thomas A. D. Fessenden, Edward H. Rollins, Schenck, Scofield, Shannon, Spalding, Fisher, Frank, Goodwin, Granger, Hahn, Haight, Hick- Starr, Stevens, Thayer, Upson, Van Valkenburgh, Ellihu B. man, Hooper, Hutchins, Julian, Kelley, Francis W. Kel- Washburne, William B. Washburn, Whaley, Williams, logg, William Kellogg, Lansing, Leary, Lovejoy, Low, Wilder, Wilson, Windom, Woodbridge-76. McIndoe, McKean, McPherson, Marston, Maynard, Moorhead, Anson P. Morrill, Noell, Olin, Patton, Timothy G. Phelps, Potter, Alexander H. Rice, John H. Rice, Sargent, Solgwick, Segar, Shanks, Shellabarger, Sherman, Sloan, Spaulding, Stevens, Trimble, Trowbridge, Van Horn, Van Wyck, Verree, Wall, Wallace, Washburne, Albert S. White, Windom, Worcester-78. NAYS-Messrs. William Allen, Ancona, Baily, Baker, Baxter, Biddle, Cobb, Frederick A. Conkling, Roscoe Conk ling, Cor, Cravens, Crienden, Dawes, Edwards, English, Gooch, Grider, Gurley, Hall, Harding, Harrison, Holmun, Horton, Johnson, Kerrigan, Knapp, Law, Lazear, Loomis, Mallory, May, Menzies, Justin S. Morrill, Morris, Nixon, Noble, Norton, Nugen, Odell, Pendleton, Perry, Pike, Pomeroy, Porter, Price, Robinson, James S. Rollins, Sheffield, Shirt, John B. Steele, William G. Steele, Stiles, Stratton, Benjamin F. Thomas, F. Thomas, Vallandigham, Wads worth, Wheeler, Whaley, Chillem A. White, Wickliffe, Wilson, Woodruff, Wright-64.

February 20-The bill passed-yeas 78, uays Grinnell, Griswold, Hale, Hotchkiss, Asahel W. Hubbard, 64, as follows:

THE ACT OF 1864.

April 18-The bill passed the House-yeas 80, nays 66, as follows:

YEAS-Messrs. Alley, Allison, Ames, Anderson, Arnold, Ashley, John D. Baldwin, Baxter, Beaman, Blaine, Jacob B. Blair, Bontwell, Boyd, Broomall, W. G. Brown, A.W.Clark, Freeman Clarke, Cobb, Cole, Creswell, Dawes, Deming, T. T. Davis, Donnelly, Driggs, Dumont, Eckley, Farnsworth, Fenton, Frank, Garfield, Gooch, Grinnell, Higby, Hooper, Hotchkiss, Asahel W. Hubbard, John H. Hubbard, Jenckes, Julian, Kasson, Kelley, Francis W. Kellogg, Orlando Kellog, Loan, Longyear, Marvin, McBride, McClurg, McIndoe, Samuel F. Miller, Moorhead, Morrill, Daniel Morris, Amos Myers, Norton, Charles O'Neill, Orth, Patterson, Perham, Price, William H. Randall, John H. Rice, Edward H. Rollins, Shannon, Sloan, Smith, Stevens, Thayer, Tracy, Upson, Van Valkenburgh, Ellihu B. Washburne, William B. Washburn, Webster, Williams, Wilder, Wilson, Windom, Woodbridge-80.

NAYS-Messrs. James C. Allen, William J. Allen, Ancona, Baily, Augustus C. Baldwin, Bliss, Brooks, James S. Brown, William G. Brown, Chanler, Cox, Dawson, Denison, Eden, Eldridge, English, Finck, Grider, Harrington, Herrick, Hol man, Philip Johnson, William Johnson, Kalbfleisch, Ker nan, Law, Long, Mallory, Marcy, McKinney, Middleton, William H. Miller, James R. Morris, Morrison, Nelson, John O'Neill, Pendleton, Samuel J. Randall, Robinson, Rogers, James S. Rollins, Scott, John B. Steele, William G. Steele, White, Joseph W. White, Winfield, Benjamin Wood, YeaStrouse, Sweat, Thomas, Voorhees, Wheeler, Chilton A.

man-54.

INTEREST.

The section enacting that seven per cent, interest shall be deemed the lawful interest in all States where no rate is established, but each bank shall be bound by the State law regulating interest in the State where it is located, was agreed to-yeas 89, nays 45.

This section:

STATE TAXATION.

That nothing in this act shall be construed to prevent the taxation by States of the capital stock of banks organized under this act, the same as the property of other moneyed corporations, for State or municipal purposes; but no State shall impose any tax upon such associations or their capital, circulation, dividends, or business, at a higher rate of taxation than shall be imposed by such State upon the same amount of moneyed capital in the hands of individual citizens of such State.

Was adopted-yeas 78, nays 56, as follows: YEAS-Messrs. James C. Allen, William J. Allen, Ancona, Baily, Augustus C. Baldwin, Bliss, Brooks, Broomall, James S. Brown, William G. Brown, Chanler, Clay, Cox, Cravens, Dawson, Denison, Eden, Eldridge, English, Finck, Ganson, Grider, Griswold, Hall, Harrington, Benjamin G. Harris, Herrick, Holman, Hotchkiss, Philip Johnson, William Johnson, Kalbfleisch, Orlando Kellogg, Kernan, Law, Lazear, Long, Mallory, Marcy, McKinney, Middleton, Samuel F. Miller, William H. Miller, James R. Morris, Morrison, Amos Myers, Nelson, Odell, John O'Neill, Orth, Pendleton, Pike, Pomeroy, Pruyn, Radford, Samuel J. Randall, William II. Starr, John B. Steele, William G. Steele, Strouse, Sweat, Tracy, Van Valkenburgh, Ward, Whaley, Wheeler, Chilton A. White, Joseph W. White, Windom, Winfield, Benjamin Wood, Yeaman-78.

NAYS-Mosrs. J. C. Allen, W. J. Allen, Ancona, Baily, A. C. Bildein, Francis P. Blair, Bliss, Brooks, Chanler, Clay, Cofroth, Cravens, Dawson, Denison, Eden, Eldridge, Finck, Gansm, Grider, Griswold, Hall, Harding, Harrington, Ben jamin G. Harris, Charles M. Harris, Herrick, Holman, Hatchins, William Johnson, Kernan, King, Knapp, Law, Lizer, Long, Mallory, Marcy, McDowell, McKinney, Mid-Randall, John H. Rice, Robinson, Rogers, Scofield, Scott, dieton, William H. Miller, James R. Morris, Morrison, Nelson, Noble, Odell, Pendleton, Pruyn, Radford, Samuel J. Randall, Robinson, Rogers, Ross, Scott, John B. Steele, W. G. Steele, Stiles, Strouse, Stuart, Thomas, Wheeler, Chilton A. White, Joseph W. White, Winfield, Fernando Wood, Yeaman-66.

May 10-The Senate passed it-yeas 30, nays 9. as follows:

YEAS-Messrs. Anthony, Chandler, Clark, Collamer, Conness, Dixon, Doolittle, Fessenden, Foot, Foster, Hale, Harlan, Howard, Howe, Johnson, Lane of Indiana, Lane of Kansas, Morgan, Morrill, Pomeroy, Ramsey, Sherman, Sprague, Summer, Ten Eyck, Trumbull, Van Winkle, Wil kinson, Willey, Wilson-30.

NATS-Messrs. Buckalew, Cowan, Davis, Grimes, Henderon, Powell, Richardson, Riddle, Saulsbury-8. IN HOUSE.

SMALL NOTES.

Pending the consideration of this bill, April 6-A section was adopted, authorizing the iscue to those banks of notes of the denominations of one, two, three, five, ten, twenty,

NAYS-Messrs. Alley, Allison, Ames, Anderson, Ashley, John D. Baldwin, Baxter, Beaman, Blaine, Blow, Boutwell, Boyd, Ambrose W. Clark, Cobb, Cole, Thomas T. Davis,

Dixon, Donnelly, Driggs, Eckley, Eliot, Frank, Gooch, Grin nell, Hale, Hooper, Asahel W. Hubbard, John H. Hubbard, Jenckes, Julian, Kasson, Kelley, Francis W. Kellogg, Loan, Longyear, Marvin, McBride, McClurg, Morrill, Daniel Mor ris, Leonard Myers, Charles O'Neill, Perham, Price, Alexan der H. Rice, Edward H. Rollins, Schenck, Shannon, Smithers, Spalding, Stevens, Thayer, Upson, Ellihu B. Washburne, William B. Washburn, Wilder-56.

MR. STEVENS'S SUBSTITUTE.

Upon these and other amendments being adopted, Mr. STEVENS offered a substitute for the whole bill, which he explained as differing from the amended bill in these respects only:

The substitute provides for a uniform rate of interest at seven per cent., and withdraws these national banks from State taxation and leaves them to be taxed by the national Government.

Which was rejected-yeas 59, nays 78, as follows:

NAYS-Messrs. James C. Allen, William J. Allen, A?!gustus C. Baldwin, Brooks, James S. Brown, Chanier, Crarens, Creswell, Henry Winter Davis, Dawson, Eden, Eldridge, Finck, Ganson, Hall, Harding, Harringtom, Benjamin G. Harris, Herrick, Holman, Asahel W. Hubbard, Hutchins, William Johnson, Kalbfleisch, Kelley, Kernan, King, Knapp, Law, Lazear, Long, Marcy, McBride, McDowell, McKinney, William H. Miller, James R. Morris, Morrison, Nelson, Noble, Odell, Pendleton, Pruyn, Radford, Samuel J. Randall, Robinson, James S. Rollins, Ross, Scott, John B. Sterle, Strouse, Stuart, Thayer, Thomas, Wheeler, Chilton A. White Joseph W. White, Williams, Winfield, Fernando Wood The bill was then passed.

YEAS-Messrs. Alley, Allison, Ames, Anderson, Ashley, John D. Baldwin, Baxter, Beaman, Blow, Boutwell, Boyd, Broomall, Ambrose W. Clark, Cobb, Cole, Thomas T. Davis, Dixon, Donnelly, Driggs, Eckley, Eliot, Frank, Garfield, Gooch, Grinnell, Hale, Hooper, John H. Hubbard, Jenckes, Julian, Kasson, Kelley, Francis W. Kellogg, Loan, Longyear, Marvin, McBride, McClurg, Morrill, Daniel Morris, Leonard Myers, Charles O'Neill, Patterson, Perham, Alexander H. Rice, Edward H. Rollins, Schenck, Scofield, Shannon, Spalding, Starr, Stevens, Thayer, Thomas, Upson, Wil--60. liam B. Washburn, Wilder, Windom, Woodbridge-59.

NAYS-Messrs. James C. Allen, William J. Allen, Ancona, Baily, Augustus C. Baldwin, Blaine, Bliss, Brooks, James S. Brown, William G. Brown, Chanler, Clay, Cox, Cravens, Dawson, Denison, Eden, Eldridge, English, Finck, Ganson, Grider, Griswold, Hall, Harrington, Benjamin G. Harris, Herrick, Holman, Hotchkiss, Asahel W. Hubbard, Philip Johnson, William Johnson, Kalbfleisch, Orlando Kellogg, Kernan, Lato, Long, Mallory, Marcy, McKinney, Middleton, William H. Miller, James R. Morris, Morrison, Amos Myers, Nelson, Odell, John O'Neill, Orth, Pendleton, Pike, Pomeroy, Price, Pruyn, Radford, Samuel J. Randall, William II. Raudall, John H. Rice, Robinson, Rogers, James S. Rollins, Scott, Smithers, John B. Steele, W. G. Steele, Strouse, Sweat, Tracy, Van Valkenburgh, Ward, Ellihu B. Washburne, Wheeler, Chilton A. White, Joseph W. White, Wilson, Winfield, Benjamin Wood, Yeaman 78.

IN SENATE.

ON TAXATION.

April 29-The Senate committee reported a substitute for Mr. FENTON's amendment adopted by the House, which proposed that

In lieu of all other taxes every association shall pay to the Treasurer of the United States, in the months of January and July, a duty of one half of one per cent. each half year from and after the 1st day of January, 1864, upon the average amount of its notes in circulation, and a duty of one quarter of one per cent. each half year upon the average amount of its deposits, and a duty of one quarter of one per cent. each half year, as aforesaid, on the average amount On Mr. STEVENS's motion, the bill was then of its capital stock beyond the amount invested in United tabled--yeas 91, nays 44.

STATE TAXATION.

April 16-A new bill, previously introduced, was considered, containing (among others) this provision :

"Every organization under this act shall pay to the Treasurer of the United States a duty of one per cent, each aalf year, from and after the 1st day of April, in the year 1864, upon the maximum amount of their circulating notes during the six months; and in default of such payment the Treasurer of the United States is hereby authorized to retain one per cent. of the amount of bonds required to be deposited as security for such circulation at each semi-annual payment of the interest thereon; and such duty and the taxes or duties imposed by Congress from time to time shall be in lieu of all other taxes on such associations: Provided, That nothing in this act shall be construed to prevent the market value of the shares in any of the said banking associations, held by any person or body-corporate created by State law, being included in the valuation of the aggregate personal property of such person or State corporation in assessing any tax imposed by any State or municipal authority on the aggregate personal estate of all persons subject to the authority of such State or municipality."

Mr. FENTON moved to substitute this:

And that nothing in this act shall be construed to prevent the taxation by States of the capital stock of banks organized under this act, the same as the property of other moneyed corporations for State or municipal purposes; but no State shall impose any tax upon such associations or their capital, circulation, dividends, or business, at a higher rate of taxation than shall be imposed by such State upon the same amount of moneyed capital in the hands of individual citizens of such State: Provided, That no State tax shall be imposed on any part of the capital stock of such associa tion invested in the bonds of the United States, deposited as security for its circulation.

States bonds.
* Provided, That nothing in
this act shall be construed to prevent the market value of
the shares in any of the said associations, held by any per-
son or body-corporate, from being included in the valuation
of the personal property of such person or corporation in
the assessment of all taxes imposed by or under State an-
thority for State, county, or municipal purposes; but not at
a greater rate than is assessed upon all other moneyed cap-
ital in the hands of individual citizens of such State. And
all the remedies provided by State laws for the collection of
such taxes shall be applicable thereto: Provided, also, That
nothing in this act shall exempt the real estate of associa
tions from either State, county, or municipal taxes to the
same extent, according to its value, as other real estate is

taxed.

Mr. POMEROY moved to strike out the first proviso, and insert:

Provided, That nothing in this act shall be construed as exempting the capital stock of an association, beyond the amount invested in United States bonds and deposited with the Treasurer of the United States as part of its capital or as security for its circulating notes, from being subject to the same rate of State and municipal taxation as is imposed upon other personal property in the State, city, or town in which the association is located.

Which was rejected-yeas 11, nays 28, as follows:

YEAS-Messrs. Chandler, Conness, Harding, Howard, Lane of Indiana, Pomeroy, Ramsey, Sherman, Sprague, Sumner, Wilkinson-11.

NAYS-Messrs. Buckalew, Carlile, Clark, Collamer, Cowan, Davis, Dixon, Fessenden, Foot, Foster, Grimes, Hale, Harlan, Henderson, Hendricks, Howe, Johnson, Lane of Kansas, McDougall, Morgan, Morrill, Nesmith, Powell, Riddle, Ten Eyck, Van Winkle, Willey, Wilson-28.

Mr. HOWARD moved to amend the proviso so as to make it read:

Provided, That nothing in this act shall be construed to prevent the market value of the shares in any of the said associations, held by any person or body-corporate, from

Which was agreed to-yeas 70, nays 60, as being included in the valuation of the personal property of follows:

YEAS-Messrs. Alley, Allison, Ames, Arnold, Ashley, baily, John D. Baldwin, Baxter, Beaman, Blaine, Boutwell, Broomall, William G. Brown, Ambrose W. Clark, Freeman Clarke, Clay, Cobb, Cole, Dawes, Driggs, Dumont, Eckley, Farnsworth, Fenton, Frank, Gooch, Grinnell, Higby, Hooper, Hotchkiss, John H. Hubbard, Jenckes, Julian, Kasson, Francis W. Kellogg, Orlando Kellogg, Loan, Longyear, Marvin, McClurg, McIndoe, Samuel F. Miller, Moorhead, Morrill, Daniel Morris, Amos Myers, Charles O'Neill, Orth, Patterson, Perham, Pike, Pomeroy, Price, William H. Raudall, Alexander H. Rice, John H. Rice, Edward H. Rollins, Shannon, Sloan, Smith, Tracy, Upson, Van Valkenburgh, Ellihu B. Washburne, William B. Washburn, Webster, Wilder, Wilson, Windom, Woodbridge-70.

such person or corporation in the assessment of all taxes imposed by or under State anthority for State, county, or municipal purposes in the State where the bank is situated; &c.

Which was rejected-yeas 11, nays 27, as follows:

YEAS-Messrs. Chandler, Conness, Harlan, Hendricks, Howard, Morrill, Pomeroy, Ramsey, Sherman, Summer, Wilkinson-11.

NAYS-Messrs. Anthony, Buckalew, Clark, Collamer, Cowan, Davis, Dixon, Doolittle, Fessenden, Foot, Foster, Grimes, Hale, Henderson, Howe, Johnson, Lane of Indiana, Lane of Kansas, Morgan, Nesmith, Powell, Riddle, Sprague, Ten Eyck, Van Winkle, Willey, Wilson-27.

May 6-Mr. SUMNER'S substitute:*

And in lieu of all other taxes on the capital, circulation, deposits, shares, and other property, every association shall pay to the Treasurer of the United States, in the months of January and July, a duty of one per cent. each half year from and after the 1st day of January, 1864, upon the aver age amout of its notes in circulation, and the duty of one half of one per cent. each half year upon the average amount of its deposits, and a duty of one half of one per cent. each half year, as aforesaid, on the average amount of its capital stock beyond the amount invested in United Provided, That nothing in this act shall exempt the real estate of associations from either State, county, or municipal taxes to the same extent, according to its value, as other real estate is taxed: Provided also, That all taxes imposed by this or any future act on banking associations organized under national legislation shall be

States bonds: *

* Mr. SUMNER read this letter from Secretary Chase: TREASURY DEPARTMENT,

May 5, 1864. SR: Nothing but my deep sense of the importance of sustaining by every possible means the public credit, upon which the sole dependence of the Government to suppress the insurrection must rest, would induce me to address you this letter upon a subject which has already received so much consideration.

The bill in relation to the national banking system now under debate is in the nature of an amendment to the act of the last session. Though a complete bill in itself, it contains few provisions not substantially embraced in that act, among which that in relation to the measure and distribution of taxation may be regarded perhaps as the most important. Under ordinary circumstances there might be no insuperable objection to leaving the property organized under the national banking law, subject as are almost all

descriptions of property to general taxation, State, national, and municipal. But in the present condition of the country, I respectfully submit that this particular description of property should be placed in the same category with imported goods before their entry into general consumption, and be subjected to exclusive national taxation.

At the present moment the duties on imports form the sole reliance of the Government for means to pay the intereet on the public debt. If to these means the taxes to be paid by the national banks shall be added a most important addition will be made to these measures. The mere fact that these taxes are made payable to the national Government and so rendered available for the payment of interest on the public debt, and for the reduction of its principal, will strengthen the public credit and facilitate the negotiation of the necessary loans at moderate rates of interest. I have no doubt that such a disposition of these taxes would be worth more to the Government during the present struggle in practical results than three times the actual value of

the taxes themselves.

I do not at all suggest that this description of property should not be taxed as heavily as any other description. On the contrary, I think it just that it should bear its full proportion of the public burdens. I am only anxious that the taxation upon it shall be made to contribute as largely as possible to the general welfare, and it is the conviction deeply impressed on my mind that it will contribute more when aggregated in one mass, and made to tell upon the general public credit, than when distributed between the nation and the States and numerous municipal corporations, that prompts me to address these views to you.

Under any plan of partition that may be adopted the amount of taxation distributable to the several States and municipalities will be comparatively small and unimportant, and it is quite possible that the total taxation of banking property for all purposes, will be less than it will if taxed exclusively for national purposes. The advantages of partition to States and municipalities will therefore bo small, and the banks may not lose by it. The nation alone will be injured. It will not be understood, of course, that the foregoing suggestions are intended to apply to real estate held by any banking institutions; that description of property mast necessarily be held by titles under State laws, and should properly be subjected exclusively to State taxation, except in the event of a direct tax by Con

gress.

The case is otherwise with the personal property and organization from national law and for great national purposes, and may therefore be with great propriety, and as I have endeavored to show at the present time-with great public advantage be subjected to exclusive national taxa

credits of the banking associations. These receive their

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applied exclusively to the payment of the interest and principal of the national debt of the United States. Which was rejected-yeas 11, nays 24, as follows:

YEAS-Messrs. Chandler, Conness, Howard, Lane of Indiana, Pomeroy, Ramsey, Sherman, Sprague, Sumner, Wilkinson, Wilson-11.

NAYS-Messrs. Anthony, Buckalew, Carlile, Clark, Colla mer, Cowan, Davis, Dixon, Doolittle, Fessenden, Foot, Foster, Grimes, Hale, Henderson, Howe, Johnson, Morgan, Powell, Richardson, Riddle, Ten Eyck, Trumbull, Van Winkle-24.

ON SMALL NOTES.

May 10-Mr. BUCKALEW moved to strike out of the twenty-second section the words allowing one, two, and three dollar bills; which was rejected-yeas 8, nays 27, as follows:

YEAS-Messrs. Buckalew, Cowan, Doolittle, Henderson, Powell, Richardson, Riddle, Saulsbury-8.

NAYS-Messrs. Anthony, Clark, Collamer, Conness, Dixon, Foot, Foster, Grimes, Hale, Harlan, Howe, Johnson, Lane of Indiana, Lane of Kansas, Morgan, Morrill, Ramsey, Sherman, Sprague, Sumner, Ten Eyck, Trumbull, Van Winkle, Wade, Wilkinson, Willey, Wilson-27.

ON REPEALING THE BANKING SYSTEM. Mr. POWELL moved to substitute for the whole bill, a section repealing the banking act of February 25, 1863; which was rejected-yeas 6, (Messrs. Buckalew, Henderson, Powell, Richardson, Riddle, Saulsbury,) nays 31.

The bill then passed.

The House non-concurred in the Senate's amendments, when a Committee of Conference was appointed, who reported, June 1. The tas question was settled by adding these words to the thirty-second section:

And nothing in this act shall be construed to prevent all the shares in any of the said associations, held by any person or body corporate, from being included in the valuation of personal property of such person or corporation, in the assessment of taxes imposed by or under State authority, at the place where such bank is located, and not elsewhere; but not at a greater rate than is assessed on other moneyed capital in the hands of individual citizens of said States: Provided further, That the tax so imposed under the law of any State upon the shares of any of the associations author ized by this act shall not exceed the rate imposed on shares in any of the bank organizations under the authority of the State where such association is located.

The bill provides for a tax of one per cent. on the circulation of national banks, one half of one per cent. on their deposits, and one per cent. on their capital above the amount invested in United States bonds.

vision in either house. The report was concurred in, without a di

The Public Debt.

THE PUBLIC CREDIT UNDER BUCHANAN.

December 28, 1860-Bids for $5,000,000 in six per cent. Treasury notes, authorized by act of December 17, 1860, were opened by Philip F. Thomas, Secretary of the Treasury, when it was found that only $2,500,000 were bid for, and this at a rate of discount from seven to thirty-six per cent. Eight thousand five hundred were bid for at seven per cent.; $151,600 at from seven to ten per cent; $1,087,000 at twelve per cent.; $140,000 at from twelve to twenty per cent.; $325,000 at from twenty to thirty-six per cent.

January 19, 1861-The balance of this loan was taken, the bids being for nearly triple the amount and ranging from eight and a half to fifteen per cent. discount. One bid

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