The Sun.
London, England, 1863-01-24 00:00:00

AMERICAN FINANCE

The following important financial measures are
thus described by the New York Herald of Jan. 9 :
" Washington, Jan. 8.
" The Finance Bill reported by the Committee of Ways
and Means is as follows :
" Be it enacted, &c., that the Secretary of the Treasury
be, and he is hereby, authorised to borrow from time to tirae,
on the credit of the United States, a sum not exceeding
900,000,000 dole., d issue therefore coupon or registered
bonds, payable at the pleasure of the Government after 20
years, and of such denominations, not less than 50 dols., as
he may deem expedient, bearing ir terest at the rate of 6
per cent per annum, payable semi-annually in coin ; and
he may in his discretion d'spose of such bonds at any time,
upon the best terms he can obtain, not less than par for
lawful money of the United States, or for any of the certi-
cates of indebtedness that may at any time be unpaid, or for
any of the interest bearing Treasury notes heretofore issued,
or which may be issued under the provisions of this act ;
and all the bonds and interest bearing Treasury notes issued
under the provisions of this act shall be exempt from taxa-
tion by or under State authority ; provided that there shall
be issued and outstanding of bonds, interest-bearing notes,
and United States' notes, at any lime, under the provisions
of this act, no greater amount altogether than the sum of
900,000,000 dohs, except an additional amount equal to any
amount of the seventh and three-tenths bonds, so called,
heretofore issued, which may be redeemed and funded in
such bonds as are authorised under the provision of this
act.
Sec.. 2. And be it fttithei enacted that the Secretary of
the Treasury is authorised to issue on the credit of the
United States 300,000,000 dole of United States' notds,bear-
ing interest, payable semi-annually in coin, at the rate of
lie per day on each 100 dole, being 5 dols 472 e per cent. per
annum, payable to bearer, and redeemable at the pleasure
of the Government, after three years, at the Treasury, and
of such denominations as he may deem expedient, not less
than 10 dols each; and such notes shall be receivable for in-
ternal duties, and all debts and demands due to the United
States, except for duties on imports ; and any holder of sail
United States notes depositing any sum, whether before or
after maturity, not less than 50 dole, or some multiple of 50
dole, with the Treasurer of the United States, or either of
ne Assistant Treasurers, or either of the depositories,which
shall be designated by the Secretary of the Treasury for such
purpose, shall receive in exchange therefore duplicate certi-
ficates of deposit for the amount of principal, and any accu-
mulated interest thereon, one of which may be transmitted
to the Secretary of the Treasury, who shall thereon issue to
the holder an equal amount in bonds of the United States,
coupon or registered, as may be desired, bearing interest at
the rate of 6 per cent., payable semi-annually in coin, and
redeemable at the pleasure of the Government after 20 years;
and such United States' notes may be used by the Secretary
of the Treasury at their par value in the payment of the
lawful creditors of the United states who may be willing
to receive the same, and shall be received at their par value
in payment of any bonds that may hereafter be negotiated
by the Secretary of the Treasury, who shall also allow in
any such negotiations, and pay in coin, any interest which
may have accumulated thereon ; and the Secretary of the
Treasury may. as the exigencies of the public service may
require, re-issue any amount of United States' interest-
bearing notes herein authorized equal to the amount re-
deemed. There shall be printed on the back of the United
States' interest-bearing notes which may be issued under
the provisions of this Act the amount of interest which will
have accumulated at the end of each 6 months from the date
thereof, and the following words :—' The within note is a
legal tender in payment of internal duties, and all debts and
demands due in the United States,except duties on imports,
and is exchangeable for bonds of the United States bearing
6 per cent. interest, payable in coin semi-annually.'
" Sec. 3. And be it further enacted that the Secretary of
_ . _