The New era. [volume] ([Portsmouth, Va.]) 1845-1847, 1847-01-21
WASHINGTON CORRESPONDENTS.
WAsHIsGroN. Jan. 10. ls47.

send you skeleton of the Twenty Three
Million Bill, reported to the Hunse last week
from The Commi,iee of WAYS and Means II,
VIII doubtless prove entirely successful in repl.n-
lshlng the Treasury with the "snews of war,
Section L. Authorizes the President To issue
reasuty Notes I" an amount not exceeding S23
coo .000-ihe loves, note $50
sec (. SAID mates In be redeemed al the Il rea
sury alier the expiration of one or two YEARS
interest IN u" case to exceed six per cent per an
rum, and To cease after sixty days notice shall
he given by the Secretary uf readiness to re-
deem.
Dec . Directs the preparation. signing, and
conniersignlng of the mules, with checks unno tho
Register and Treasurer and authorizes The on,
plnyment at five temporary clerks, al the rate or
$1,000 salary.
Sec a. Authorizes the Secretary to pay public
creditors in these notes. if they choose To- receive
them at par; aud also to borrow, from lime to
lime, not under rar. such sums as NAV be expe
dent. I'm the credit of snch notes
See D Provides for the transfer md assipnmen,
Of The nules
Src b. Enacis that they shall he received in
payment ct all debts due to the United States
Tor public lands, duties, taxes. Sc
Sec 7. Prescrbes the manner in which colIec
tuTs, receivers uf pnblic moneys, and other Gov
e'nment agents. shall receive these notes. and
Keep their accounts uf them
Sec 8. Authorizes the Secretary 10 reimburse
and pay the principal and interest of these notes
at the lime named in this act; and to make pur
chasas nl them al par at other times
Sec. 9 and 10. Contain the usual clauses aoairs,
iorgers and counlerfriers
Sec. II. Directs the Secretary To issue ins,r,c
lions To dppnstariPs as To the safe keepinp re,urn
and cancplling of these notes
sec X Permits the Issuing of new notes in
lieu OF those redeemed; with the proviso tina, the
amount shall not exceed s23 100000
sec. 10 Provides for the funding of the nptes
INT" stuck bearing six per cent. interest, and ,o
he transferable on-lhe books the Treasury The
stock ih"s created To he relmbnrsahe any time
after the last day of December, 1867.
Sec Ia. Allows holders of any Treasury notes.
issued under This or any other past act TO conver
them into certificates of fund debt,
Sec. 10. The authority To Issue Treasury notes
under The act OF 22d July. 1916. Is extended to
me same period as the notes under this act hpt
'hey shall not exceed, exclusive If the loan the
amount Of Treasury notes now authorised r. hs
issued by said act
Sec. 10. Leaves ii optional with the President
|" issue the whole amount in notes. or to borrow
as olnch as ne may deem proper, On a six per rent
stock, redeemable in 1863 but the whole amonnt
not 10 exceed s23 900, 900; and no stock to be is
sued al a less than par
o'c H. ihe interest on the stock sha II be nav
P "'" ""'"",'y, on the Isl OF July
and Isl ct January, Of each year
Sec TO- Directs that the certificates of stock
snail be signed by the Register of The Treasury.
and bear the seal of The Department.
Sec. ~ Pledges the sales Of The public lands
ir me redemption of the s'ork a fer the Isl of
January lo4o' The proceeds are to he applied,
hrs. To The payment of The interest and the bal
ance To The purchase Of said stock at their market
value.
Sec 20. ApPr"Priaes $4,000 for preparing.
printing, engraving, and other expenses inci,Ien,
10 The issuing "f The notes; and fprbids any CON
P'nsh'i"n TO salarIed officers for signing or pre-
pairing them.
SIC IL Makes it The duly of the Secretary to
publish monlhly statements of Mates issued or re-
deemed; and concludes with saying that The pow.
ef |" issue Treasury noleS conferred on the Pres.
"en' "f The United States by this act shall cease
ana terminate SIX months after The exchange and
Of Mexico P"''''