Mr. SPALDING. I am satisfied with the modified form in which the ComWays&Means have attempted to carry out what I asked the House to consider on a former occasion. I am satisfied with the bill as it stands, and I think it ought to become a law. I desire to say that the practice has been in my State for many years, some time during the month of April probably, to send round assess ors and take lists of the taxable property, and one of the items is money on hand, money in pocket, or money in bank subject to check. Now, this practice has never been interru ted as yet, but members of our Legislature, which is now in session hearin that we had passed a law last ear that won d interfere wi this practice of taxing mone on hand in the shape of U.S. notes, desired me to introduce some measure here that would call for llation explatory of the subjebt and providing that they may have the same right which has existed heretofore of taxing money on hand. This measure accomplishes all they desire and all I had in view the other day. I wish to say, in addition, that I can see no reason why any member on this floor should object to the passage of this bill. The public faith has never been pledged to any man or set ofinen to exempt from taxation money on hand. Now, if a mans horse is subact to taxation in one of the States, and that orse is sold, and the value taken in greenbacks, should not the greenbacks be subject to taxation as well as the property that has been converted into money? Greeiibacks never passed into the hands of anyone with the idea that they would be exempted from taxation. They were taken niercly as currency of the country. hot so With our bonds and with the other securities of the government. Their money had beenparted With and invested in securities on the faith that they should not be taxed, and that was an inducement whereby they were led to part With their money. Now, we seek to let the States, whatever they may make it their policy to tax, have the privilege of taxing greenbacks, as they have been accustomed to tax the notes of the State banks in hand, in the pocket, or in the vaults of a bank subject to check. That is all.