Page:United States Statutes at Large Volume 14.djvu/177

 THIRTY-NINTH CONGRESS. Sess. I. On. 184. 1866. 147 of its outstanding circulation, to be redeemed at par, under such regula- tingonotss, &e. tions as the Secretary of the Treasury shall prescribe, it shall be exempt l’° °x°‘“P"· from any tax upon such circulation; and whenever any State bank lor banking association has been converted into a national banking associa· Ntinticfqnnlbg tion, and such national banking association has assumed the liabilities of $3,,; QQ as such State bank or banking association, including the redemption of its suming their liabills, by any agreement or understanding whatever with the represents- 32x8S, t;•dm¤k° tives of such State bank or banking association, such national banking t,x::{;,c,,li:? association shall be held to make the required return and payment on the tion of over tive circulation outstanding, so long as such circulation shall exceed five per lg;,' °°“t °f °“P" centum of the capital before such conversion of such State bank or bank- ` ing association. That an act entitled "An act to declare the meaning of certain parts $9l>stit¤f¤ fw of the internal revenue act approved June thirty, eighteen hundred and f:;':;; 3,: fgzgd sixty-four, and for other purposes,” approved March tenth, eighteen hun- cn. 15. Am, dred and sixty-six, be amended by striking out sections three, four, and 5- five of said act, and inserting in lieu thereof the following: That it shall be _ Persons makthe duty of all persons required to make returns or lists of income or arti- Klfoksgfggcizfg cles or objects charged with an internal tax, to declare in such returns or whether values lists whether the several rates and amounts therein contained are stated :**6 Swwg l¤ according to their values in legal tender currency or according to their c:€:;$°;,0°;;,;T values in coined money; and in case of neglect or refusal so to declare to the satisfaction of the assistant assessor receiving such returns or lists, F¤ii{¤gfo d<· such assistant assessor is hereby required to make returns or lists for such zgggfzmgig oersons so neglecting or refusing, as in cases of persons neglecting or re- lists and add fusing to make the returns or lists required by the acts atbresaid, and to P°¤’*m€S· assess the tax thereon, and to add thereto the amount of penalties imposed by law in cases of such neglect or refusal. And whenever the rates If V¤}¤¤¤ QN and amounts contained in the returns or lists as aforesaid shall be stated 2::3 iw in coined money, it shall be the duty of each assessor receiving the same to techies it to to reduce such rates and amounts to their equivalent in legal tender cur- 1*5**1 *°”‘lf”`· _ rency, according to the value of such coined money in said currency for the lQ‘,!“°‘ “‘ h"“ time covered by said returns. And the lists required by law to be fur- igucunbigsglisizm nished to collectors by assessors shall in all cases contain the several amounts be i¤ I¢s¤l ¥¤¤· of taxes assessed, estimated, or valued in legal tender currency only. d°r‘ Sec. 10. And be it fur!/cer enacted, That from and after the passage Articks and of this act the articles and products hereinafter enumerated shall be ex- empt from internal tax:-— l [For other AX Alum; aluminum; aluminous cake, patent alum, sulphate of alumina, empmd mg ' and cobalt ; cles, see post, Aniline and aniline colors; P· *78*] Animal charcoal, or carbon; Anvils ; Articles manufactured in institutions for the blind, and in institutions Pcs!. p 475. for the deaf and dumb, which are sold to aid in their support, or the support of the pupils; Barrels and casks, other than those used for the reception of fluids; packing boxes made of wood; and boxes of wood or paper for friction matches, cigar lights, and wax tapers; Beeswax, crude or unretined ; Bi-chromate and prussiate of potash; Bleaching powders; Blue vitriol; Borax, and boracic acid ; Brass not more advanced than rods or sheets; Brick, tire-brick, draining tiles, cement, drain and sewer pipes, earthen and stone water-pipes, retorts and tiles made of clay; Bristles ; Brooms made from corn, brush, or palm-leaf;