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Show TAX ON BANK DEPOSITS PROPOSED IN CONGRESS B!Bj WASHINGTON, Dec 17. A las: of I agfH one quarter of one per cent on all ; li bank deposits is proposed in a bill in-j fSS troduccd today by Representative Trcadway. of Massachusetts, a Repub- jSkn lican member of the house ways and SMjH means committee. Mr. Treadway ee- IjfliffiS tlmated that such a tax would net a vti 'N revenue of approximately one billion dollars annually. Collection of the tax would be made ; at the time the deposits were made and ' Institutions affected would include all j national state and private banks: trut J companies, brokers' offices and other J! Institutions, firms or corporations re- : fm celvlng any money on deposit subject i "2; to withdrawals by check, cash or oth- j erwise. fi Mutual savings banks, corporative j ijjafj building and loan associations and slm- rieS'' "ar Institutions organl.ed and operat- : ':vyjj ed exclusively for the benefit of their - jriLfc members would be exempted t&Pj The bill was referred to the house '! ,'SjS ways and means committee which is i jgR considering changes In internal rev- I . i nue schedules. V Mr. Treadway. using bank clear- V Ings as a basis, estimated the total j. B transactions in the l.'nlted StatC3 for JB- the year 1S19 at 1483.864,926,000. - ': 'A tax of one-cjuarter of one per ijSw cnt of this amount would have ' lira brought revenue of $1.20?, 662, 310." he ifia said. |