34 FORTIETH CONGRESS. Sess. II. Ch. 3, 5, 6, 7. 1868. JM- Il, I868- CHAP. III.—An Act to prevent Frauds in the Gollcclicn of the Tax on distilled Spirit;. Be it enacted by the Senate and House of Represmtatives of the United Full tax fp be States of America in Congress assembled, That from and after the pag- P"?°ltQ"b‘“§°‘“°° sage of this act; no distilled spirits shall be withdrawn or removed from 3;:; Ji-eiskrgu any warehouse for the purpose of transportation, redistiilation, rectificafmm W¤¤‘°h<>¤S°· tion, change of package, exportation, or for any other purpose whatever, for my PurP°s°' until the full tax on such spirits shall have been duly paid to the collector See ch. 78, Poet, of the proper district. And all acts and parts of acts inconsistent with P- 78- the provisions of this act be, and they are hereby, repealed. Armovmn, January 11, 1868. Feb. 8, 1868. CHAP. V. -An Act to provide for the Exemption of Codon_/iam intcmal Tax. Be it enacted by the Senate and House of Representatives of the United Cotton eng- States of America in Obngress assembled, That all cotton grown in the
- g;lf;g;“;R;r United States after the year eighteen hundred and sixty-seven shall be
&c.; ’ exempt from internal tax; and cotton imported from foreign countries on b°¤¤3§;>*:;<;·u*é¤ and after November first, eighteen hundred and sixty-eight, shall be mon M y' exempt fiom duty. APPROVED, February 3, 18 68. Feb- 4, 1868- CHAP. VI. —An Acc zo suspend funher Reduction of zla Gunmq. Be it enacted by the Senate and Ikusa of Representatives of the United P°W°’;.‘,i$` S°°‘ States of America in Congress assembled, That from and after the g.;;?, ?cdu!;,°°` passage of this act, the authority of the Secretary of the Treasury to make ¢¤r‘r¤¤¢yby,&¤· any reduction of the currency, by retiring or cancelling United States ‘“;§;g‘}:gd notes, shall be, and is hereby, suspended; but nothing herein contained United States shall prevent the cancellation and destruction of mutilated United States 3E6x? b¤ notes, and the replacing of the same with notes of the same character and andunt. SCHUYLER COLFAX, S ea/cer of the Lbusc 0 R resentativea. B. F. {ABE, f ep President of the Senate pro tempore. Indorsed by the President: “Received January 23, 1868." [Norm mr Tum Dmrnnrmxcur or STATE. -— The foregoing act havin been presented to the President of the United States for his approval, and not having been returned by him to the House of Congress in which it originated within the time prescribed by the Constitution of the United States, has become a. law without his approval.] Feb. 10, 1868. CHA]?. VIL—An Act in Relation to taxing Shares in national Banks. Be it enacted by the Senate and House of Representatives of the Mailed Shares in M,. States of America in Congress assembled, That the words “place where $*;*1 bsnkg Vg_ the bank is located, and not elsewhere," in section forty-one of the " act to °1£i cl: 1?6,, provide a national curreney," approved June third, eighteen hundred and §41. sixty-four, shall be construed and held to mean the State within which V1f;f;:·g’é11rtl1e bank is located; and the legislature of each State may determine taxed. and direct the manner and place of taxing all the shares of national banks located within said State, subject to the restriction that the taxation shall not be at a greater rate than is assessed upon other moneyed capital in the hands of individual citizens of such State: And provided always, shares of non- That the shares of any national bank owned by non-residents of any "°“d°’"“· Scam shall be taxed in the city or town where said bank is located, and not elsewhere. Armovun, February 10, 1868.
