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Your committee ask for instructions on this branch of the subject referred to them, or to be discharged from its further consideration.

NEW YORK, June 23, 1863.

Respectfully submitted,

GEORGE S. COE,
A. E. SILLIMAN,
J. M. MORRISON,
Jos. M. PRICE,
R. H. LOWRY,

Committee.

GEORGE D. LYMAN, Secretary.

On motion, the report of the committee was accepted and ordered to be entered on the minutes.

The committee was then discharged from further consideration of the subject of State taxation.

A resolution was then discussed but not adopted, and a committee of ten bank officers appointed to be present at the Court of Appeals, on the 26th inst., to hear the arguments in the case of the Metropolitan Bank and Shoe and Leather Bank, respondents, against H. H. VAN DYCK, Superintendent of the Banking Department, appellant, involving the question of the constitutionality of the United States legal tender notes. The meeting then adjourned.

GEORGE D. LYMAN, Acting Secretary.

APPENDIX.

NEW YORK CLEARING-HOUSE, April 21, 1863.

SIR: The undersigned, your committe, appointed at a meeting of the Clearing-house Association, held on the 27th of March last, to consider and report upon all matters relating to National and State taxation of banks, beg leave to report at this time specially upon the subject of State taxation. They herewith enclose two blank forms of statement to be made to the Tax Commissioners, which have been adopted under advice of counsel. These forms, with affidavits annexed, are marked A and B: Statement A, for the use of banks whose investment in United States securities and real estate exceed the amount of their capital, and Statement B, by such banks as are not wholly exempt from taxation on their personal estate.

It will be observed that your committee recommend that the statements be made as of the 12th day of January, 1863, as required by the Tax Commissioners. The reason for this requirement is, that upon that day the books containing the assessments of real and personal estate were opened for examination and correction.

Your committee have under consideration, other branches of the important subject referred to them.

Respectfully yours,

GEORGE S. COE,
A. E. SILLIMAN,

JAMES M. MORRISON,

J. M. PRICE,
R. H. LOWRY,

Committee.

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SCHEDULE A.

NEW YORK, January 12th, 1863.

Statement made and delivered to the Commissioners of Taxes and Assessments of the city and county of New York, for and in behalf of the

-in pursuance of the provisions of Title IV., Chap. XIII., Part I, of the Revised Statutes of the State of New York, and of the acts amendatory thereof, Chap. 654, Laws of 1853, and Chapters 456 and 536, Laws of 1857.

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Amount paid for Real Estate as above stated,
Amount of the said Capital Stock held by the State
Amount of the Capital Stock held by

Being incorporated Institution

3. Amount of surplus profits or reserved funds, exceeding ten per cent of the Capital of this bank, $.....

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This bank held and owned at the date above named, stocks, bonds and other securities of the United States, to the amount of $

as per schedule annexed, and claims exemption from taxation on its capital to that amount.

4. The

financial business of the said

in the

No.

office or the place of transacting the is situated Ward of the city of New York, at

street.

Dated January 12th, 1863.

CITY OF NEW YORK, 88. I

of the

being duly affirmed, do hereby certify and declare, that to the best of my knowledge and belief the foregoing statement was in all respects just and true at the date thereof, to and of which date said statement is made, as made, as required by the Tax Commissioners.

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being duly sworn, depose and say, that the said

owned, on the 12th day of January, A. D., 1863, stocks, bonds, and other

securities of the United States, to the amount of $

the

same being exempt from taxation "by or under State authority," and that the total value of all other personal estate of the said

at that date, did not exceed the amount of debts due from said I therefore respectfully claim on behalf of said and as the representative thereof, that it had no

taxable personal estate over and above the amount of debts due from said (excluding property exempt by law from taxation,) by law, be laid on said

and that no tax can,
as to its Real Estate.
Affirmed before me, this
day of

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save

NEW YORK, January 12th, 1863.

Statement made and delivered to the Commissioners of Taxes and Assessments of the city and county of New York, for and in behalf of the

-in pursuance of the provisions of Title IV., Chap. XIII., Part I, of the Revised Statutes of the State of New York, and of the acts amendatory thereof, Chap. 654, Laws of 1853, and Chapters 456 and 536, Laws of 1857.

1. Real estate owned by the said

viz.:

situated in

Sum actually paid therefor

2. Capital stock of the said

actually paid in and secured to be paid in

EXCEPTING THEREFROM

Amount paid for Real Estate as above stated,
Amount of the said Capital Stock held by the State,
Amount of the Capital Stock held by

Being incorporated Institution

3. Amount of surplus profits or reserved funds, exceeding ten per cent of the Capital of this bank, 8.....

This bank held and owned at the date above named, stocks, bonds, and other securities of the United States, to the amount of

as per schedule annexed, and claims exemption from taxation on its capi? tal to that amount.

4. The

financial business of the said

in the No.

office or the place of transacting the is situated Ward of the city of New York, at

street.

Dated January 12th, 1863.

of the

CITY OF NEW YORK, SS. I being duly affirmed, do hereby certify and declare, that to the best of my knowledge and belief the foregoing statement was in all respects just and true at the date thereof, to and of which date said statement is made, as required by the Tax Commissioners.

Affirmed before me, this

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CITY AND COUNTY OF NEW York, ss. I

being duly sworn, depose and say, that the said

of the

held and

the

owned, on the 12th day of January, A. D., 1863, stocks, bonds, and other securities of the United States, to the amount of $ same being exempt from taxation "by or under State authority," and that the total value of all other personal estate of the said at that date, exceeded the amount of debts due from said in the sum of $

half of said

I therefore respectfully claim, on beand as the representative thereof, that

it had no taxable personal estate over and above the amount of debts due from said (excluding property exempt by law from

taxation,) excepting the said sum of $ can, by law, be laid on said

and on its Real Estate.

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and that no tax save on said sum of

WISCONSIN BANKS.

The statement of the Wisconsin banks on the 6th July, was as follows:

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The Auditor's report of Missouri states the debt of Missouri on the 1st

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This is not inclusive of the debt incurred to meet the expenses of the war, as payment of that will be provided for by the general government. Nor does it include an issue of $15,000,000 authorized by the secession Legislature, under the direction of the secession Governor JACKSON, a large amount of which was disposed of at a very low price. It has been

proposed by Governor GAMBLE, the present executive, to assume this as a portion of the debt of the State, on the basis of 663 per cent, by an issue of new bonds to the amount of $10,000,000.

CONDITION OF THE NEW YORK STATE BANKS.

The following summary shows the aggregate of the resources and liabilities of the banks of the State of New York, as exhibited by their reports to the Superintendent, of their condition on the morning of June 13, 1863, and March 28, 1863. The returns for December, 1862, will be found in vol. 48, page 486 of the Merchants' Magazine :

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To show the remarkable changes in the returns during the war, we give the movement since September, 1861, in the four principal items of the quarterly reports:

Date.

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September, 1861...

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Speeie.
$38,089,727

Discounts. $176,055,848

March, 1862...
June,

28,330,973

121,988,259

34,301,092

162,017,987

1862... 33,727,382

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September, 1862
December, 1862...
March, 1863...

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June,

1863...

32,261,452

218,717,725

40,250,309

178 922,536 183,864,089 183,617,438

From the above it will be seen that the circulation which, in December, 1862, had increased about $11,000,000, has again decreased $7,000,000.

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