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years ending June 30, 1865-'66-'67, was imposed upon national banks, State banks, and private bankers, and the amounts collected from all these sources for those years were as follows:

In 1865

In 1866

In 1867

...

$846, 686 58 1, 262, 649 05

1, 433, 715 79

The tax upon dividends and profits is imposed upon all incorporated banks, whether State or national, and from this source was collected :

In 1864

In 1865
In 1866

In 1867

$1,577, 010 73 4,016, 722 91

4, 240, 663 20 3,774, 975 32

The tax imposed directly upon the capital, circulation, and deposits of national banks is paid to the Treasurer of the United States, and is not reported to this office.

Those national banks which were converted from State banks pay internal revenue tax if there is sufficient of the old State circulation outstanding. The collections on circulation were $1,993,661 84 in 1865; $990,328 11 in 1866, $214,298 75 in 1867. Of these amounts a portion was probably paid by national banks on this outstanding State circulation.

Very respectfully,

Hon. HUGH MCCULLOCH,

E. A. ROLLINS,

Commissioner.

Secretary of the Treasury.

TREASURY OF the United STATES, DIVISION OF NATIONAL BANKS,
Washington, December 28, 1867.

SIR: I have the honor to return herewith the copy of the resolution of the Senate of the United States, of the date of December 3, referred by you to myself, "for report upon so much thereof as relates to" this "office," with the following statements, which embrace such information called for by the resolution as can be furnished from the books of this office.

The "semi-annual duty" collected of the national banks under the fortyfirst section of the national currency act has been, since their establishment, as follows:

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Duty for six months ending June 30-returns incomplete, may be slightly changed-now stands at

Total duty

2,893,786 07

13,038, 330 50

The foregoing being duty on capital circulation and deposits only, there should be added, to show the total amount of duty and taxes paid by national banks to the government, the taxes and license fees collected through the internal revenue office.

The amount of bonds at this date held as security for national bank currency is $340,997,750, as follows:

....

Bonds bearing interest at rate of six per cent., coin
Bonds bearing interest at rate of five per cent., coin
Bonds bearing interest at rate of six per cent., lawful money.

$247, 763, 800

89, 656, 950 3,577, 000

340, 991, 750

The statement attached hereto shows the amount of interest due, at the several dates at which interest has matured, upon bonds held as security for the circulation of national banks, commencing with the first payment of interest after the first deposit of bonds by the banks, and extending to and including the last payment, on 1st ultimo.

It shows, as required by the resolution, the amount of interest due annually apon such bonds the amount of interest payable in coin, and the value thereof in lawful money; also, the amount of interest due in lawful money upon such bonds as bear interest in lawful money.

The value in lawful money of the coin interest was ascertained by adding to the amounts of coin interest due at any date the premium on coin, according to the quotations of the New York gold exchange on that day at 12 m.

The following is condensed from the statement referred to accompanying this report:

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money of total interest due

259, 221 67 5, 105, 338 68 18, 101, 647 76 26, 297, 744 44 26,744, 271 61,76, 508, 224 16

Respectfully submitted:

Hon. H. McCULLOCH,

Secretary of the Treasury.

F. E. SPINNER, Treasurer United States.

Statement showing the coin and currency interest that was due at stated periods to secure circulating national bank notes, and the

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upon the United States bonds held by the Treasurer of the United States in trust value, in lawful money, of such interest when due.

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Statement showing the coin and currency interest that was due

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