Skip Skip The amendment was agreed to. The next clause was read, as follows: That section110 be amendedby striking out all after the enactingclauseand inserting in lieu there of the following: that there shall be levied, collected, and paid a tax ofone 24th 1%.each month upon the averageamount of the deposits of money, sulnoutto payment by check or draft or represented by certificates of deposit or otherwise. whether payable on demand or at some future day. with any person.bank. association company or corporation engaged in the businessofbank g: and a tax of one 24th of 1%. each month. as aforesaid. upon the capital of any bank. Association company or corporation and on the capital employed by any person in the nsinees of banking end the averageamount invested in U.S. onds and a tax of onetwelfth of 1%. each month upon the average amount of circulation issued by any bank. association.corporation, company or person.includin ascirculation all certified c ache and all notes another obligations calculated or intended to circulate or to beused as money, but not including that in the'vault of the bank or redeemed andon deposit for said bank; and an additional tax of one 6th of 1%. each menta.upon the averago amount ofsuch circulation. issues as aforesaid.beyond the amount of' 90%.of the eapital of anysuch bank. association.eor oaryation. company or person. And on the 1st Mon ofeach moat a true and accuratereturn of the amount of circulation. of deposit, and of capital fas aforesaid and of the amountof notesof State banks or Statebanking associations paidoutby themf or the previous month, shall be made apiiyeuderedin dupli eate‘by eachofsuch banks. Associations corporations. companies or personsto the assessor of the district in which any such bank. association, corporation or company may be located or in which such person may res do with a declaration annexed thereto and the path or aflirmation of such person or of the president or cashier of such bank. association.cor poration or c omany. in such formand manner as may be prescrib by the ComrIntRev. that the same contains a true and faithful statement of the amountssubjectto tax as aforesaid and shall transmit the duplicate of said return to the ComrIntRev and within 20 da s thereaftershall payto thesaid ComrIntRev the taxes by law prescribed upon the said amounts of circulation. of deposits, of capital, and of notes of Statebanks and abnaynkin associationspaid outas aforesaid; and for remeal or neglect to make or to render such retnrp and payment as aforesaid. any such bank. association corporation. company or person so in default shall be subjectto and pay a penalty f 8Z1). besides the additional penalty and for cituresll lother cpses irovided by law; and the amount of circula $bla0n1k1in.eg.poassisto, ccaiaptiitoanl.sapnadi ooutet.saosf Satfaotrees baaidn.kins adned fault of the proper return, shall be estimatedby the assessoror asst assessor of the district as afore said. upon the bestinformation he can obtain; and ever such penalty may be recoveredfor the usepf the U.S. in any court of competentJI H'lS diction. And in the case of banks with branches. the tax herein provided for shall be imposedupon the circulation of each branch severally and the amountof capital of eachbranchshall beconsidered to be the amount allotted to each branch; and so much of an notentitled “An actto proVidewaysand meansfor thesupportof the Government.“approved March 3. 1863, as imposesany tax on banks their circulation, capital or deposits.other than is crei i:i provided is hereby repealed: Proqsded.That this section shall not apply to associations which are taxed under and by virtue of the act “ to provide a national currency secured b a pledge of U.S.bonds, and to provide or the circulation and redemption thereof.’ And the deposits in associations or compgniesknown as providentjnstitutions. savings ban. savings funds or savings institutbiuosnisn.ehsastvhinagn rneoceoinvinitgaldest poocskitasnted domiz no other he leanedor in vestedfor thesolebenefitof the partiesmaking such depoSits.Without profit or compensationto the asso ediuattyion or company shall be exempt from tax‘or on so mue of their deposits as they have in vestedin securitiesof the U.S and on all depositslessthan 5500madein the name of anyone person: and thereturns required to bemadeby such provident institutions and savm banks alter July. 866 shall be made on the 1st onday of January and July of eachyear, in such form and manner as may be prescribed by the ComrIntRev: And provedsdfurlher. That any bank ceasing to issue notes for circulation and which shall depositin the Treasury of the U.S.in lawful money.the amount of its outstanding circulation. to be redeemedat or undersuch regulations as the Seexeermeptatr of the Treasury may prescribe shall be roni any tax upon such circulation. The ComFinance proosed to amend this clause by striking out the words “on the 1st Monday of each month, ” after the word “ and” in line 2862.