Mr. SPALDING. the Gentfrom Illinois [Mr. Coox] ields to me for 2 minutes. Mr. Speaker, f rise to a personal explanation. When I had the honor to offer a JtResolution on Monday last, touching the taxation of some portion of the national currency, nothing was further from my mind than to in fringe upon the credit of the nation. Why, sir, I regard the bonds, the interest bearin bonds of the U.S., and the credit of the country as I regard the apple of my eye. I am the last man in the House who would in fringe upon the credit of the Government. Yet I am charged in the reported discussion, by the respectable Gentfrom Pennsylvania, [Mr. Srsv exs] whoI know labored under a mistake, with having offered a resolution involving “rank repudiation.” I allude to the remarks of the late chairman of the ComWays&Means, and at present chairman of the ComAppropriat, which, I confess, I did not hear at the time. He says: “ I move to lay the whole subject on the table. It is rank repudiation and nothing else." I wish to say I received on Saturday last a letter from an influential member of the General Assembly of Ohio, saying that the financial legislation of that State was about to be embar rassed by reason of the provision contained in the act of 30th June, 1864, which precludes States from taxing as money the notes of the U.S. commonly calledigreenbacks, ” and my object was by the JtResolution to remove the prohibition upon the State Legislature. In some of the States it is not so in all of them I know it has been the habit in Ohio once a year to take an account of the mom: on hand belonging to its citizens and placing tIiem on the list at a moderate rate of taxation. They propose to do it in the future. They propose to consider “greenbacks, ” the same as State bank notes, as money on hand; and my object was to bring that portion of the currency, the paper money of the country, under State taxation if they saw fit to place it under taxation. That is all. I do not undertake to violate in any degree the credit of the country, and have never undertaken to do so. It is a darling object with me to preserve that credit at all times untarnished. Imake this explanation that the spirit of repudiation may not expect countenance and support from me.