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Virginia Argus
Richmond, Virginia
What is this article about?
In the U.S. House of Representatives on Dec. 8, Mr. Crowninshield offered a resolution instructing the Secretary of the Treasury to provide statements on public money deposits in U.S. and other banks for the last three years, including balances, to enable taxing the balances at 6% for revenue estimated at 150,000-180,000 dollars. The resolution passed.
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After some business of little import, Mr. Crowninshield offered the house the following resolution.
Resolved, That the Secretary of the Treasury be instructed to furnish this house with a statement of the amount of the deposits of public money in the United States' and other banks, for the three last years, the balances remaining, distinguishing the different years, &c.
I offer this resolution for the purpose of ascertaining the amount and the balances. My object is to draw a revenue from that balance, by taxing the Banks six per cent. Probably there are three or four millions. This will yield from 150 to 180,000 dolls. I consider it a fair source of revenue.—Carried.
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Domestic News Details
Event Date
Dec. 8.
Key Persons
Outcome
the resolution was carried.
Event Details
Mr. Crowninshield offered a resolution instructing the Secretary of the Treasury to furnish a statement of public money deposits in United States' and other banks for the three last years, including remaining balances distinguished by years. Purpose: to ascertain amounts and balances for taxing banks at six per cent, estimated three or four millions yielding 150 to 180,000 dollars as a fair source of revenue.