486 THlRTY—EIGHTH CONGRESS. Sess. II. Ch. 78. 1865. Managers of their agents, to keep, or cause to be kept, just and true books of account l$;§°?,£’ k°°P wlerein all their transactions shall be plainly and legibly set forth, which ’books of account shall at all reasonable times and hours be subject to the inspection of the assessor, assistant assessor, revenue agent, and inspector of the proper district; and any manager, proprietor, agent, or vender Penalty ecs rc. under this act, who shall refuse or prohibit such inspection of his or their fusing i¤Sp¢<=¢i¤¤- books, as aforesaid, shall pay a penalty of one thousand dollars, or suffer imprisonment for a term not exceeding one year for every such offence. What to be _ Sec. -14. And be it furt/'zer enacted, That the capital of any state bank gffglf g‘;m°“P" or banking association which has ceased, or shall cease to exist, or which bank, ro, Pur.- has been or shall be converted into a national bank, for all the purposes P°S<>$ of this Mt- of the act to which this is an amendment, shall be assumed to be the cap. ital as it existed immediately before such bank ceased to exist or was converted as aforesaid. And whenever the outstanding circulation of any Circulation bank, association, corporation, company, or person shall be reduced to an "hw me °f WX- amount not exceeding five per centum of the chartered or declared capital existing at the time the same was issued, said circulation shall be free from taxation. And whenever any state bank or banking association has been converted into a national banking association, and such national banking association has assumed the liabilities of such state bank or banking association, including the redemption of its bills, such national banking association shall be held to make the required return and payment on the circulation outstanding, so long as such circulation shall exceed five per ceutum of the capital before such conversion of such state bank or banking association. Ifin any port Sec. 15. And be it further enacted, That in any port of the United ?;°"° ‘“ ‘“°*`° States in which there is more than one collector of internal revenue, the an one collector . . of 5,,;.,,,,,;,,,,,. Secretary of the Treasury shall designate one of said collectors to have izgsivrgsdtg bet charge of all matters relating to the exportation of articles subject to ,€"f[’:;,pO‘},;f duty under the laws to provide internal revenue; and at such ports as tion, &c. the Secretary of the Treasury may deem necessary there shall be an officer appointed by him to superintend all matters of exportation and drawback, under the direction of the collector, whose compensation therefor shall be prescribed by the Secretary of the Treasury, not exceeding, however, in any case, an annual rate of two thousand dollars, which, together with the office expenses of such superinten[den]ce, shall not be included in the maximum of the aggregate expenses of the office of the said collector. And all books, papers, and documents in the bureau of Drawbacks. drawback in the different ports, relating to the drawback of duties paid under the internal revenue laws, shall be delivered to said collector of internal revenue. Repealing Sec. 16. And be it further enacted, That all provisions of any former °l“““°· act inconsistent with the provisions of this act are hereby repealed: Pro- _Ssving of dn- vided, however, That no duty imposed by any previous act, which has
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- l“g°§;d become due or of which return has been or ought to be made, shall be
cupped', " remitted or released by this act, but the same shall be collected and paid, and all fines and penalties heretofore incurred shall enforced and collected, and all offences heretofore committed shall he punished as if this act had not been passed; and the commissioner of internal revenue, under the direction of the Secretary of the Treasury, is authorized to make all necessary regulations and to prescribe all necessary forms and proceedings for the collection of such taxes and the enforcement of such fines and penalties for the execution of the provisions of this act. Supgligs furthe Sec. 17. And be it further enacted, That the privilege of purchasing Uulm S¤¤f¤¤ supplies of goods imported from foreign countries for the- use of the K‘:g,b§£‘f"h"‘°°d United States, duty free, which now does or hereafter shall exist by provision of law, shall be extended, under such regulations as the Secretary of the Treasury may prescribe, to all articles of domestic production which are subject to tax by the provisions of this act.
