Comptroller Knox's Statement

i. he new internal revenuo tnx law provides for tbe repeal of the tax upon the capital and deposits of all banks and bankers, cxcept such taxes as are now due and payablo. The tas on capital and deposits thereforo coasedMarch 3. Comptroller Knox says tho passage of tlm act relieves national and state banks and private bankers from atas 011 an uvorage oí aoout 81,000,000 a month. Tho atnonnt of tax collected from national banks on capital and deposits the last fiscal year was 85,959 - 702,_ of vrhioh 8437,774 only was upon capital, tho romainder being ou deposits. The tax upon state banks and a little more than one-fiíth was upon capital. Tho total tax collccted upon deposits and oapital during tho last fiscal year was 811,208,875. The amount annually collected from the two-eent oheck stamp Is about 82,500,000. Th act repealinw tho uso of these stamps tafces effect July 1, In order to havo a baais for the levy of taxes bankers wore coinpelled to mako serui-annual returns to tho commissioner oí internal revenue. From these returns for a number oí years the comptroller of the currency ha been enabled to make a complete shott-ing of the flnancial condition of all the banks of the country. There is no necessity for such returns under the new law and the valuable details in regard to bauks will no Jonger appear, further than can bc obtained from the reporte of banks as oowpiled by the omcere of the various etates. Many of the states do not require suoh returns to bo niade, and tho aggregate will of necessity be much Jcss complete than heretofore.