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of its outstanding circulation, to be redeemed at par, under such regulations as the Secretary of the Treasury shall prescribe, it shall be exempt from any tax upon such circulation; and whenever any State bank or banking association has been convertedNational banks made from State banks, and assuming their liabilities, to make return, and pay tax on circulation of over five per cent of capital. 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, by any agreement or understanding whatever with the representatives of such State bank or banking association, 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 centum of the capital before such conversion of such State bank or banking association.

Substitute for sections 3, 4, and 5 of act of 1866, ch. 15. Ante, p. 5. That an act entitled "An act to declare the meaning of certain parts of the internal revenue act approved June thirty, eighteen hundred and sixty-four, and for other purposes," approved March tenth, eighteen hundred and sixty-six, be amended by striking out sections three, four, and five of said act, and inserting in lieu thereof the following: ThatPersons making lists for taxation, to declare whether values are stated in legal tender or coined money. it shall be the duty of all persons required to make returns or lists of income or articles or objects charged with an internal tax, to declare in such returns or lists whether the several rates and amounts therein contained are stated according to their values in legal tender currency or according to their values in coined money; and in case of neglect or refusal so to declare to the satisfaction of the assistantFailing to do so, assistant assessor to make lists and add penalties. assessor receiving such returns or lists, such assistant assessor is hereby required to make returns or lists for such persons so neglecting or refusing, as in cases of persons neglecting or refusing to make the returns or lists required by the acts aforesaid, and to assess the tax thereon, and to add thereto the amount of penalties imposed by law in cases of such neglect or refusal. AndIf values are stated in coined money, assessor to reduce it to legal tender. whenever the rates and amounts contained in the returns or lists as aforesaid shall be stated in coined money, it shall be the duty of each assessor receiving the same to reduce such rates and amounts to their equivalent in legal tender currency, according to the value of such coined money in said currency for the time covered by said returns. AndValues in lists sent by assessors to collectors, to be in legal tender. the lists required by law to be furnished to collectors by assessors shall in all cases contain the several amounts of taxes assessed, estimated, or valued in legal tender currency only.

Articles and products exempt from taxation. Sec. 10. And be it further enacted, That from and after the passage of this act the articles and products hereinafter enumerated shall be exempt from internal tax:—

[For other exempted articles, see post, p. 476.] Alum; aluminum; aluminous cake, patent alum, sulphate of alumina, and cobalt;

Aniline and aniline colors;

Animal charcoal, or carbon;

Anvils;

Post, p. 475. Articles manufactured in institutions for the blind, and in institutions for the deaf and dumb, which are sold to aid in their support, or the support of the pupils;

Barrels and casks, other than those used for the reception of fluids; packing boxes made of wood; and boxes of wood or paper for friction matches, cigar lights, and wax tapers;

Beeswax, crude or unrefined;

Bi-chromate and prussiate of potash;

Bleaching powders;

Blue vitriol;

Borax, and boracic acid;

Brass not more advanced than rods or sheets;

Brick, fire-brick, draining tiles, cement, drain and sewer pipes, earthen and stone water-pipes, retorts and tiles made of clay;

Bristles;

Brooms made from corn, brush, or palm-leaf;