Mr. JOHNSON, of Maryland, moved an amendment to substitute a clause repealing the act of 1850; which was rejectedyeas 17, nays 22, as follows: YEAS--Messrs. Buckalew, Carlile, Cowan, Davis, Harris, Hicks, Johnson, Lane of Indiana, McDougall, Powell, Richardson, Riddle, Saulsbury, Ten Eyck, Trumbull, Van Winkle, Willey-17. NAYS-Messrs. Anthony, Brown, Chandler, Clark, Conness, Dixon, Fessenden, Foot, Grimes, Hale, Harlan, Howard, Howe, Lane of Kansas, Morgan, Morrill, Pomeroy, Ramsey, Sprague, Sumner, Wade, Wilson-22. The bill then passed-yeas 27, nays 12, as follows: "One war at a time." A war with Great Britain was thus happily avoided. With the incidents of the war, however, save as they affected politics and politicians, this work has little to do, and we therefore pass the suspension of the writ of habeas corpus, which suspension was employed in breaking up the Maryland Legislature and other bodies when they contemplated secession, and it facilitated the arrest and punishment of men throughout the North who were suspected of giving "aid and comfort to the enemy." The alleged arbitrary character of these arrests caused much complaint from Democratic Senators and Representatives, but the right was fully enforced in the face of every forin of protest until the war closed. The most prominent arrest was that of Clement L. Vallandigham, member of Congress from Ohio, who was sent into the Southern lines. From thence he went to Canada, and when candidate for Governor in Ohio, was defeated by over 100,000 majority. YEAS-Messrs. Anthony, Brown, Chandler, Clark, Conness, Dixon, Fessenden, Foot, Grimes, Hale, Harlan, Harris, Hicks, Howard, Howe, Lane of Indiana, Lane of Kansas, Morgan, Morrill, Pomeroy, Ramsey, Sprague, Sumner, Ten Eyck, Trum-a bull, Wade, Wilson-27. NAYS--Messrs. Buckalew, Carlile, Cowan, Davis, Johnson, McDougall, Powell, Richardson, Riddle, Saulsbury, Van Winkle, Willey-12. ABRAHAM LINCOLN, President, approved it, June 23, 1864. Financial Legislation-Internal Taxes. The Financial legislation during the war was as follows: 1860, December 17-Authorized an issue of $10,000,000 in TREASURY NOTES, to be redeemed after the expiration of one year from the date of issue, and bearing such a rate of interest as may be offered by the lowest bidders. Authority was given to issue these notes in payment of warrants in favor of public creditors at their par value, bearing six per cent. interest per annum. 1861, February 8-Authorized a LOAN of $25,000,000, bearing interest at a rate not exceeding six per cent. per annum, and reimbursable within a period not beyond twenty years nor less than ten years. This loan was made for the payment of the current expenses, and was to be awarded to the most favorable bidders. Seward as Secretary of State. Wm. H. Seward was a master in diplomacy and Statecraft, and to his skill the Unionists were indebted for all avoidance of serious foreign complications while the war was going on. The most notable case coming under his supervision was that of the capture of Mason and Slidell, by Commodore Wilkes, who, on the 8th of November, 1861, had intercepted the Trent with San Jacinto. The prisoners were Confederate agents on their way to St. James and St. Cloud. Both had been prominent Senators, early secessionists, and the popular March 2-Authorized a LOAN of $10,impulse of the North was to hold and pun-000,000, bearing interest at a rate not exish them. Both Lincoln and Seward wisely resisted the passions of the hour, and when Great Britain demanded their release under the treaty of Ghent, wherein the right of future search of vessels was disavowed, Seward yielded, and referring to the terms of the treaty, said: "If I decide this case in favor of my own Government, I must disavow its most cherished principles, and reverse and forever abandon its essential policy. The country cannot afford the sacrifice. If I maintain those principles and adhere to that policy, I must surrender the case itself." The North, with high confidence in their President and Cabinet, readily conceded the wisdom of the argument, especially as it was clinched in the newspapers of the day by one of Lincoln's homely remarks: ceeding six per cent. per annum, and reimbursable after the expiration of ten years from July 1, 1861. In case proposals for the loan were not acceptable, authority was given to issue the whole amount in TREASURY NOTES, bearing interest at a rate not exceeding six per cent, per annum. Authority was also given to substitute TREASURE NOTES for the whole or any part of the loans for which the Seeretary was by law authorized to contract and issue bonds, at the time of the passage of this act, and such treasury notes were to be made receivable in payment of all public dues, and redeemable at any time within two years from March 2, 1861. March 2-Authorized an issue, should the Secretary of the Treasury deem it expedient, of $2,800,000 in coupon BONDS, 'bearing interest at the rate of six per cent. per annum, and redeemable in twenty 1862, July 11-Authorized an additional years, for the payment of expenses incurred issue of $150,000,000 legal tender NOTES, by the Territories of Washington and $35,000,000 of which might be in denomiOregon in the suppression of Indian hos-nations less than five dollars. Fifty miltilities during the year 1855-'56. lion dollars of this issue to be reserved to pay temporary loans promptly in case of emergency. July 17-Authorized a loan of $250,000,000, for which could be issued BONDS bearing interest at a rate not exceeding 7 per cent. per annum, irredeemable for twenty years, and after that redeemable at the pleasure of the United States. TREASURY NOTES bearing interest at the rate of 7.30 per cent. per annum, payable three years after date; and United States NOTES without interest, payable on demand, to the extent of $50,000,000. (Increased by act of February 12, 1862, to $60,000,000.) The bonds and treasury NOTES to be issued in such proportions of each as the Secretary may deem advisable. August 5-Authorized an issue of BONDS bearing 6 per cent. interest per annum, and payable at the pleasure of the United States after twenty years from date, which may be issued in exchange for 7.30 treasury notes; but no such bonds to be issued for a less sum than $500, and the whole amount of such bonds not to exceed the whole amount of 7.30 treasury notes issued. February 6, 1862-Making $50,000,000 of notes, of denominations less than $5, a legal tender, as recommended by Secretary Chase, was passed January 17, 1862. In the House it received the votes of the Republicans generally, and 38 Democrats. In the Senate it had 30 votes for to 1 against, that of Senator Powell. 1862, February 25-Authorized the issue of $15,000,000 in legal tender United States NOTES, $50,000,000 of which to be in lieu of demand notes issued under act of July 17, 1861, $500,000,000 in 6 per cent. bonds, redeemable after five years, and payable twenty years from date, which may be exchanged for United States notes, and a temporary loan of $25,000,000 in United States notes for not less than thirty days, payable after ten days' notice at 5 per cent. interest per annum. March 17-Authorized an increase of TEMPORARY LOANS of $25,000,000, bearing interest at a rate not exceeding 5 per cent. per annum. July 17-Authorized an issue of NOTES of the fractional part of one dollar, receivable in payment of all dues, except customs, less than five dollars. Amount of issue not specified. 1863, January 17-Authorized the issue of $100,000,000 in United States NOTES for the immediate payment of the army and navy; such notes to be a part of the amount provided for in any bill that may hereafter be passed by this Congress. The amount in this resolution is included in act of March 3, 1863. March 3-Authorized a LOAN of $300,000,000 for this and $600,000,000 for next fiscal year, for which could be issued Londs running not less than ten nor more than forty years, principal and interest payable in coin, bearing interest at a rate not exceeding 6 per cent. per annum, payal le on bonds not exceeding $100, annually, and on all others semi-annually. And TREASURY NOTES (to the amount of $400,000,000) not exceeding three years to run, with interest not over 6 per cent. per annum, principal and interest payable in lawful money, which may be made a legal tender for their face value, excluding interest, or convertible into United States notes. And a further issue of $150,000,000 in United States NOTES for the purpose of converting the Treasury notes which may be issued under this act, and for no other purpose. And a further issue, if necessary, for the payment of the army and navy, and other creditors of the Government, of $150,000,000 in United States NOTES, which amount includes the $100,000,000 authorized by the joint resolution of Congress, January 17, 1863. The whole amount of bonds, treasury notes, and United States notes issued under this act not to exceed the sum of $900,000,000. March 3-Authorized to issue not exceeding $50,000,000 in FRACTIONAL CURRENCY, (in lieu of postage or other stamps,) exchangeable for United States notes in July 11-Authorized a further increase sums not less than three dollars, and reof TEMPORARY LOANS of $50,000,000, mak-ceivable for any dues to the United States ing the whole amount authorized $100,- less than five dollars, except duties on im000,000. ports. The whole amount issued, includMarch 1-Authorized an issue of CER-ing postage and other stamps issued as TIFICATES OF INDEBTEDNESS, payable one currency, not to exceed $50,000,000. year from date, in settlement of audited Authority was given to prepare it in the claims against the Government. Interest Treasury Department, under the supervi6 per cent. per annum, payable in gold on sion of the Secretary. those issued prior to March 4, 1863, and in lawful currency on those issued on and after that date. Amount of issue not specified. 1864, March 3-Authorized, in lieu of so much of the loan of March 3, 1863, a LOAN of $200,000,000 for the current fiscal year, for which may be issued bonds redeemable after five and within forty years, principal | Ancona, Brooks, Chanler, Cox, Dawson, and interest payable in coin, bearing interest Denison, Eden, Eldridge, Finck, Harringat a rate not exceeding 6 per cent. per an- ton, Benjamin G. Harris, Herrick, Philip num, payable annually on bonds not over Johnson, William Johnson, Knapp, Law, Le $100, and on all others semi-annually. Blond, Long, Marcy, McDowell, McKinThese bonds to be exempt from taxation ney, James R. Morris, Morrison, Noble, John by or under State or municipal authority. O'Neil, Pendleton, Perry, Robinson, Ross, 1864, June 30-Authorized a LOAN of Stiles, Strouse, Stuart, Voorhees, Ward, Chil $100,000,000, for which may be issued ton A. White, Joseph W. White, Fernando bonds, redeemable after five nor more than Wood-39. thirty years, or if deemed expedient, made payable at any period not more than forty years from date-interest not exceeding six per cent. semi-annually, in coin. Pending the loan bill of June 22, 1862, before the House in Committee of the Whole, and the question being on the first section, authorizing a loan of $100,000,000, closing with this clause: And all bonds, Treasury notes, and other obligations of the United States shall be exempt from taxation by or under state or municipal authority. There was a sharp political controversy on this question, but the House finally agreed to it by 77 to 71. Party lines were not then distinctly drawn on financial issues. INTERNAL TAXES. The system of internal revenue taxes imposed during the war did not evenly divide parties until near its close, when Democrats were generally arrayed against these taxes. They cannot, from the record, be correctly classed as political issues, yet their adoption and the feelings since engendered by them, makes a brief summary of the record essential. First Session, Thirty-Seventh Congress. The bill to provide increased revenue from imports, &c., passed the House August 2, 1861-yeas 89, nays 39. Same day, it passed the Senate-yeas 34, nays 8, (Messrs. Breckinridge, Bright, Johnson, of Missouri, Kennedy, Latham, Polk, Powell, Saulsbury.)* Second Session, Thirty-Seventh Congress. The Internal Revenue Act of 1862. 1862, April 8--The House passed the bill to provide internal revenue, support the Government, and pay interest on the public debt-yeas 126, nays 15. The NAYS were: Messrs. William Allen, George H. Browne, Buffinton, Cox, Kerrigan, Knapp, Law, Norton, Pendleton, Richardson, Shiel, landigham, Voorhees, Chilton A. White, Wickliffe-15. June 6-The Senate amended and passed the bill-yeas 22, nays 3, (Messrs. Davis, Hendricks, Powell.) The bill, as finally agreed upon by a Committee of Conference, passed without a division. Second Session, Thirty-Seventh Congress. In House-1862, July 1-The House passed, without a division, a bill increasing temporarily the duties on imports, and for other purposes. July 8-The Senate passed it without a division. THE TARIFF ACT OF 1864. June 4-The House passed the billyeas 81, nays 28. The NAYS were: -- Messrs. James C. Allen, Bliss, James S. Brown, Cox, Edgerton, Eldridge, Finck, Grider, Harding, Harrington, Chas. M. Harris, Herrick, Holman, Hutchins, Le Blond, Long, Mallory, Marcy, McDowell, Morrison, Noble, Pendleton, Perry, Pruyn, Ross, Wadsworth, Chilton A. White, Joseph W. White -28. June 17-The Senate passed the billyeas 22, nays 5, (Messrs. Buckalew, Hendricks, McDougall, Powell, Richardson.) Second Session, Thirty-Seventh Congress. Tures in Insurrectionary Districts, 1862. 1862, May 12-The bill for the collectricts passed the Senate-yeas 32, nays 3, tion of taxes in the insurrectionary dis as follows: YEAS-Messrs. Anthony, Browning, Chandler, Clark, Davis, Dixon, Doolittle, Fessenden, Foot, Foster, Harlan, Harris, Henderson, Howe, King, Lane of Indiana, Lane of Kansas, Latham, McDougall, Morrill, Nesmith, Pomeroy, Rice, Sherman, Sumner, Ten Eyck, Trumbull, Wade, Wilkinson, Willey, Wilson, of Massachusetts, Wright-32. NAYS-Messrs. Howard, Powell, Sauls Val-bury-3. June 6-The bill passed in the Senateyeas 37, nay 1, (Mr. Powell.) First Session Thirty-Eighth Congress. April 28-The House passed the act of 1864-yeas 110, nays 39. The NAYS were: Messrs. James C. Allen, William J. Allen, Democrats in italics. May 28 The bill passed House - yeas 98, nays 17. The NAYS were: Messrs. Biddle, Calvert, Cravens, Johnson, Kerrigan, Law, Mallory, Menzies, Noble, Norton, Pendleton, Perry, Francis Thomas Vallandigham, Ward, Wickliffe, Wood-17. The Democrats who voted Aye were: Messrs. Ancona, Baily, Cobb, English, Haight, Holman, Lehman, Odell, Phelps, Democrats in italics. Richardson, James S. Rollins, Sheffield, Treasury notes TAXES IN INSURRECTIONARY DISTRICTS, 1864. The Confederate Debt. December 31, 1862, the receipts of the Treasury from the commencement of the "Permanent Government," (February 18, 1862,) were as follows: Sequestration. Export duty on cotton Miscellaneous, including re- cers.. Total . . 891,623,530 00 1,862,550 27 934,798 68 8,101 78 10,794 04 24,498,217 93 $601,522,893 12 $377,988,244 00 38,437,661 00 EXPENDITURES DURING THAT TIME. War Department. Public debt. Notes cancelled and redeemed Total expenditures. Balance in treasury. 11,629,278 00 56,636 00 32,212,290 00 59,044,449 00 $519,368,559 00 601,522,893 00 $82,154,334 00 But from this amount is to be deducted the amount of all Treasury notes that have been funded, but which have not yet received a true estimation, $65,000,000; total remaining, $17,154,334. $13,920 00 CONDITION OF THE TREASURY, JANUARY 668,566 00 1, 1864. 2,291,812 CO Jan. 25-The Secretary of the Treasury 8,839,263 00 (C. G. Memminger) laid before the Senate 26,583 00 a statement in reply to a resolution of the 59,742,796 00 20th, asking information relative to the 41,398,286 00 funded debt, to call certificates, to non-in215,554,885 00 terest and interest-bearing Treasury notes, 113,740,000 00 and other financial matters. From this it 16,664,513 00 appears that, January, 1864, the funded 1,375,476 00 debt was as follows: $457,855,704 00 cent., 15,000,000 00 Act Feb. 28, 1861, 8 Total debt up to December 31, 1862. . 556,105,100 00 Estimated amount at that date necessary to support the Gov ernment to July, 1863, was 357,929,229 00 Up to December 31, 1862, the issues of the Treasury were: Call certificates..... cent., 95,785,000 00 cent., 8,252,000 00 Non-interest bearing Treasury notes out- Act May 16, 1861-Payable two years after date. 8,320,875 00 ..189,719,251 00 Act March 23-All denomi nations.... $297,871,650 00 89,206,770 00 ..131,028,366 50 ....391,829,702 50 720,898,095 00 102,465,450 00 10,424,077 50 $1,220,866,042 50 Total under $5....... ITS CONDITION, MARCH 31, 1864. The Register of the Treasury, Robert Tyler, gave a statement, which appeared in the Richmond Sentinel after the passage of the funding law, which gives the amount of outstanding non-interest-bearing Treasury notes, March 31, 1864, as $796,264,403, as follows: Act May 16, 1861-Ten-year 154,365,631 00 4,516,509 00 118,997,321 50 511,182,566 50 .$796,264,403 00 the amount of one hundred millions of dollars, and bearing an interest of eight per cent. per annum. This amount includes the thirty millions already authorized to be issued. The bonds are not to be issued in less amounts than $100, except when the subscription is for a less amount, when they may be issued as low as $50. them for bonds. Section three provides that holders of $7,201,375 00 Treasury notes may at any time exchange Section four provides that, for the special purpose of paying the principal and interest of the public debt, and of supporting the Government, a war tax shall be assessed and levied of fifty cents upon each one hundred dollars in value of the following property in the Confederate States, namely: Real estate of all kinds; slaves; merchandise; bank stocks; railroad and terest or invested by individuals in the other corporation stocks; money at inpurchase of bills, notes, and other securities for money, except the bonds of the Confederate States of America, and cash $911,258 50 on hand or on deposit in bank or elsewhere; 4,882,000 00 cattle, horses, and mules; gold watches, 6,086,320 00 gold and silver plate; pianos and pleasure 79,090,315 00 carriages: Provided, however, That when 157,982,750 00 the taxable property, herein above enu217,425,120 00 merated, of any head of a family is of value 188,088,200 00 less than five hundred dollars, such taxable property shall be exempt from taxation under this act. It provides further that the property of colleges, schools, and religious associations shall be exempt. He also publishes this statement of the issue of non-interest-bearing Treasury notes since the organization of the "Confederate" government: $973,277,363 50 Confederate Taxes. We also append as full and fair a statement of Confederate taxes as can be procured, beginning with a summary of the act authorizing the issue of Treasury notes and bonds, and providing a war tax for their redemption: THE TAX ACT OF JULY, 1861. The Richmond Enquirer gives the following summary of the act authorizing the issue of Treasury notes and bonds, and providing a war tax for their redemption: Section one authorizes the issue of Treasury notes, payable to bearer at the expiration of six months after the ratification of a treaty of peace between the Confederate States and the United States. The notes are not to be of a less denomination than five dollars, to be re-issued at pleasure, to be received in payment of all public dues, except the export duty on cotton, and the whole issue outstanding at one time, including the amount issued under former acts, are not to exceed one hundred millions of dollars. Section two provides that, for the purpose of funding the said notes, or for the purpose of purchasing specie or military stores, &c., bonds may be issued, payable not more than twenty years after date, to The remaining sections provide for the collection of the tax. THE TAX ACT OF DECEMBER 19, 1861. An act supplementary to an act to authorize the issue of Treasury notes, and to provide a war tax for their redemption. SEC. 1. The Congress of the Confederate States of America do enact, That the Secretary of the Treasury is hereby authorized to pay over to the several banks, which have made advances to the Government, in anticipation of the issue of Treasury notes, a sufficient amount, not exceeding $10,000,000, for the principal and interest due upon the said advance, according to the engagements made with them. SEC. 2. The time affixed by the said act for making assignments is hereby extended to the 1st day of January next, and the time for the completion and delivery of the lists is extended to the 1st day of March next, and the time for the report of the said lists to the chief collector is extended to the 1st day of May next; and in cases where the time thus fixed shall be found insufficient, the Secretary of the Treasury shall have power to make further extension, as circumstances may require. SEC. 3. The cash on hand, or on deposit in the bank, or elsewhere, mentioned in |