Mr. CONKl. NG. Mr. Speaker, 9. resolution on this subject introduced by the Gentfrom Ohio [Mr. SPALDING was referred to the ComWays and cans, and this bill is the committees resonse. The necessity for the resolution an for the bill is supposed to arise under the phraseology of existing acts of Congress an particularly that of June 80, 1864. I call the attention of the House to the language of that act. Section one provides that all bonds, Treasury notes, and other obligations of the U.S shall be exempt from taxation by or under State or municipal authority, and section 13 in defining those words declares that the words “obligations or other securities of the U.S. ” used in this act shall be held to include and mean all bonds, conpons, national currency, U.S. notes, Treasury notes, fractional notes, checks for money of authorized officers of the U.S., certificates of indebtedness, certificates of de osit, stamps and other representatives of value, of whatever denomination, which have been or may be issued under any act of Congress. Notes o“f national banks, and U.S. notes, legal tender notes, ” socalled, held as money, may be considered embraced within this exemtion. he allegation is that the statutes of Ohio and of other States which authorize the assessment and taxation of “money on hand" are defeated by these provisions, because the allow a tax payer to put his “money on him, ” de posits in banks or the like in the form of U.S. notes or notes of national banks, and thus bring it technically within the exemption I have referred to. The purpose of the present bill is of course not to affect existing securities held as such, but to leave them as they are, exempt from taxation, thus maintaining inviolate the public faith, but to reach “money on hand.” t not having been the design or understanding that money as such should be withdrawn from taxation by the States, by the action of Congress, it is deemed warrantable and right to remove a pretext for shunnin liability to resond to the requisitions of loca authority. uness further information or explanation is required I will demand the previous question.