XVI REPORT OF THE

these are in process of collection and will probably all be real-
ized. With very few exceptions these officers have made their
returns and payments with punctuality.

NATIONAL BANKS.

A large amount of arrears of State taxes are due from stock-
holders of National Banks for a long number of years, ranging
from 1864 to 1873. The laws have heretofore been very inade-
quate to insure their collection, and a number of the banks have
from year to year neglected and refused to make any returns
to the State Treasury, or to pay the State taxes. The delay to
enforce the collection of these taxes has been so great, that
doubts have been seriously entertained as to the practicability
of effecting their collection. I have steadily persisted in mak-
ing demands for the payment of these taxes, and in pressing
upon the Legislature the passage of laws to compel the payment
of them, standing at length almost alone in my efforts to pro-
cure the necessary legislation. I have now, however, the satis-
faction of informing your Excellency, that a large majority of
the banks have at length come to be impressed with the effici-
ency of the Act passed at the last session to collect these arrear-
ages from the stockholders, and that propositions are pending
to procure a settlement of these State taxes directly by the
banks for their stockholders, under the ninth section of said
Act. I have no question that a large amount of revenue will
thus be made available to the Treasury during the current fiscal
year from this source. One of said hitherto defaulting banks
has already made a settlement with the Treasury for its stock-
holders, and others are preparing to close their accounts in the
same way.

The amounts standing on the books of this office, as due from
the various stockholders of the National Banks, are aggregated
in Table No. 18, and are as near accuracy as the imperfect data
available to the department in former years would enable them
to be made.

Table No. 19 shows accounts standing on the books of this
office for arrears of State taxes due from various State Corpora-
tions, some of which are collectible, and will be realized as soon