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, Me Dougall, Powell, Richardson, Ridle, Saulsbury, Ten Eyck, Trumbull, Van Winkle, Willey-17.

"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 conNAYS-Messrs. Anthony, Brown, Chand- templated secession, and it facilitated the ler, Clark, Conness, Dixon, Fessenden, arrest and punishment of men throughout Foot, Grimes, Hale, Harlan, Howard, the North who were suspected of giving Howe, Lane of Kansas, Morgan, Morrill," aid and comfort to the enemy." ThePomeroy, Ramsey, Sprague, Sumner, Wade, Wilson-22.

The bill then passed-yeas 27, nays 12, as follows:

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 form 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 feated 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 candidate for Governor in Ohio, was debull, 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 28, 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.

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 1861, February 8-Authorized a LOAN of coming under his supervision was that of $25,000,000, bearing interest at a rate not the capture of Mason an 1 Slidell, by Com- exceeding six per cent. per annum, and modore Wilkes, who, on the 8th of Novem-reimbursable within a period not beyond ber, 1861, had intercepted the Trent with Sin 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 ceeding six per cent. per annum, and reresisted the passions of the hour, and when imbursable after the expiration of ten Great Britain demanded their release years from July 1, 1861. In case propo under the treaty of Ghent, wherein the sals for the loan were not acceptable, auright of future search of vessels was dis-thority was given to issue the whole avowed, 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."

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.

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 Secretary 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.

The North, with high confidence in their President and Cabinet, readily conceded March 2-Authorized an issue, should the wisdom of the argument, especially as the Secretary of the Treasury deem it exit was clinched in the newspapers of the pedient, of $2,800,000 in coupon BONDS, day by one of Lincoln's homely remarks: 'bearing interest at the rate of six per cent.

per annum, and redeemable in twenty
years, for the
payment of expenses incurred
by the Territories of Washington and
Oregon in the suppression of Indian hos-
tilities during the year 1855-'56.

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.

1862, July 11-Authorized an additional issue of $150,000,000 legal tender NOTES, $35,000,000 of which might be in denominations less than five dollars. Fifty million dollars of this issue to be reserved to pay temporary loans promptly in case of emergency.

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 bonds 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, payable 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. March 1-Authorized an issue of CER-ing postage and other stamps issued as ports. The whole amount issued, includTIFICATES 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, McKin These 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.

Richardson, James S. Rollins, Sheffield, Treasury notes
Smith, John B. Steele, Wm. G. Steele.

Sequestration.
Customs.

TAXES IN INSURRECTIONARY DISTRICTS, Export duty on cotton

1864.

In Senate, June 27-The bill passed the
Senate without a division.
July 2--It passed the House without a
division.

Many financial measures and propositions were rejected, and we shall not attempt to give the record on these. All that were passed and went into operation can be more readily understood by a glance at our Tabulated History, in Book VII., which gives a full view of the financial history and sets out all the loans and revenues., We ought not to close this review, however, without giving here a tabulated statement, from "McPherson's History of the Great Rebellion," of

$13,920 00 .668,566 00 2,291,812 CO

Patent fund.

[BOOK I.

391,623,530 00 1,862,550 27

934,798 68

8,101 78

10,794 04

24,498,217 93

.$601,522,893 12

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.

CONDITION OF THE TREASURY, JANUARY 1, 1864.

Jan. 25-The Secretary of the Treasury 3,839,263 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:

2,539,799 00 $457,855,704 00

556,105,100 00 Act Mar 23, 1863, 67 cent,
Act April 30, 1863 (cotton
interest coupons,.......... 8,252,000 00

ernment to July, 1863, was 357,929,229 00

Up to December 31, 1862, the issues of the Treasury were:

Notes

Redeemed.

Outstanding.

Interest-bearing Treasury notes outstand

ing

102,465,450 00

$107,292,900 70
38,757,650 70

From January 1, 1863, to September 30, 1863, the receipts of the Treasury were:

Amount of Treasury notes

under $5, outstanding
Jan. 1, 1864, viz:

6,810,050 00 | Act April 17, 1862, denomi

22,992,900 00
nations of $1 and $2......
Act Oct. 13, 1862, $1 and $2
482,200 00 Act March 23, 1863, 50
2,000,000 00

140,210 00 4,128,988 97

cents.........

Total under $5.......

4,860,277 50
2,344,800 00

3,419,000 00

10,424,077 50

Total debt, Jan. 1, 1864.........$1,220,866,042 50

ITS CONDITION, MARCH 31, 1864. the amount of one hundred millions of dolThe Register of the Treasury, Robert lars, and bearing an interest of eight per Tyler, gave a statement, which appeared cent. per annum. This amount includes in the Richmond Sentinel after the passage the thirty millions already authorized to of the funding law, which gives the amount be issued. The bonds are not to be issued of outstanding non-interest-bearing Treasury notes, March 31, 1864, as $796,264,403, as follows:

Act May 16, 1861-Ten-year

notes

Act Aug. 19, 1861-General currency.

Act Apr. 19, 1862-ones and twos

Act Oct. 18, 1862-General currency.

Act Mar. 23, 1863-General

currency.

Total. .

$7,201,375 00

154,365,631 00

4,516,509 00

118,997,321 50

511,182,566 50

$796,264,403 00

He also publishes this statement of the issue of non-interest-bearing Treasury notes since the organization of the "Confederate" government:

Fifty cents
Ones.

Twos.

Fives.

Tens.

Twenties

Fifties

Total.

in less amounts than $100, except when the subscription is for a less amount, when they may be issued as low as $50.

Section three provides that holders of Treasury notes may at any time exchange them for bonds.

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 taxa$973,277,363 50 tion under this act. It provides further that the property of colleges, schools, and religious associations shall be exempt. The remaining sections provide for the collection of the tax.

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.

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.

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 SecThe Richmond Enquirer gives the fol-retary of the Treasury is hereby authorized lowing 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

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