Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1861-12-25

day of December, 1861.
- W. n EDWARDS,
7'-<'' sH7''-'--"''''.e Pres. Of Convention.
JAMES II. MooRE, Prin, Sec,y. \
l.. C. EDwAKDs, Assistant 1Secy.l Ky -
sra s!.a{Nn. .16 : u s7sssS :ie'esl
AN ORDINANCE TO PROVIDE FOR THE RAlS-
ING OF MONEY FOR THE SUPPORT OF
GOVERNMENT, AND FOR THE ISSUE OF
- TREASURY NOTES FOR THE PURPOSE OF
PAYING THE PUBLIC DEBT. AND PUR-
: CHASING SUPPLIES FOR THE MILITARY
FORCES EMPLOYED FOR DEFENCE In THE
PRESENT AR, AND FOR OTHER PUR-
POSES. .i,t- -. s.....s.r ,.s.-.s 81. - ks>
Il. Be it ordainsd By the Dslega'sf Of the people
OF North Carolina in Contention assembled and 1t
is hereby ordained By tile authority Of the same,
That the Public Treasurer is authorized to issue
Treasury notes tor such sums, not exceeding, at any
one time, three millions ofdolars, as the exigencies
of the public service may require, before or on the
first day o. January 1863 and the said notes shall
be prepared and signed, and issued as hereinafter
provided. -9,.rsa5. =, 49,
2. Be ut fsrkhsr ordained, That the Public Trea,
surer cause The said notes to be prepared and that
they shall4be signed by the Pubic Treasurer, on
behalf -aof the State and countersigned BY the
Comptroller, and each Of those officers shall keep,
in proper books, separate and accurate ACCOUNTS
showing the number, date and amount OF each OF
The said notes signed and countersigned by them
respectively, and also accounts showing all such OF
said notes as may be paid or redeemed AMI cancell
ed from time to time, and the said Treasurer shall
account monthly Tor all such of said notes as shall
have been couutersigaed by the Comptroller, and
delivered to the Treasurer for issue.
0. Be IL further ordained, That the said ,Trea-
sury notes shall be payable, at the public Treasury,
to the bearer on the first day Of January, 1865,
and bear interest from date at the rate OF SIX per
cent. per annnn, for every hundred dollars and in
that proportion for greater less than one
hundred dollars and the said notes shall be OF the
several denominations Of live dollars, ten dollars,
twenty dollars, fifty dollars, one hundred dollars,
and two hundred dollars and in the following pro
PORTIONS that is to say, notes for five dollars ten
dollars and twenty dollars, the amount of four
hundred Thousand dollars of each denomination
shall be issued and notes for fifty dollars, to The
amount of eight hundred thousand dollars, and
those for one hundred dollars, and for two hundred
dollars to the amount Of five hundred thousand
dollars of each denomination; and in the course of
the issuing OF said notes. from time to time, the
said relative proportions shall be observed as near
Us may be. s
I. BE it FURTHER ordained, That the principal
money and the interest due the said notes Snail
be paid at the maturity thereof to the severah!aw
full holders thereof upon presentment at the 1rea-
sury, out Of any money in the Treasury not other
wise appropriated, and further, that at any time or
times before the maturity Of said notes. the Treasurer
may give notice in the newspapers, printed in Ra-
leigh, Of his readiness to pay the any class
or denomination Of said notes, or any certain part
thereof and the interest shall close ON the notes de-
signated IN such notice ut the expiration of forty
days after such notice given. sE.t
5. Be 1t further ordaiaed, That the said notes
may be issued by the Treasurer, in payment of any
warrant in favor of public creditors, for the pur-
pose of paying military officers and troops in service
or for the purchase of supplies or such troops and
fer the payment of coupons upon any bond or bonds
hitherto gwen, hereafter to be given, or for any
other demand upon the Treasury by persons who
may be willing to receive the same in payment at
par; and the Public Treasurer may borrow money,
from time to time upon the credit of said notes.
the public service may require, not exceeding the
SAID sum of three millions of dollars; Prorided,
That upon such loans interest shall not be charged
paid at greater rate than six per cent per annum
and further that no Treasury notes shall he pledged
nor shall they be Sold issued for any purpose for
less than the amount due on the same, including in
terest accrued thereon, if any.
g. BE itjurther ordained, That the said Treasury
notes Shall. at any time times hereafter, be re-
ccyabe at the Treasury in payment for land enter
ed and for taxes and any deJt to the State at the
Treasury, and in making such payment, the holder
hall have credit Tor the principal money mentioned
m said note and the interest accrued thereon up to
the day Of payment; and accounts shall be kept as
iioresad, Of the notes thus paid or redeemed dis.
tingushing the sum allowed for interest FROM the
principal. '
z. Belt further ordIiaed That the said Treasu-
~ notes shall be received by Sheri and other COL
Letting officers in payment of the public taxes in
their respective counties and the said officers so
ceivng any of the said notes SHALL at the tim. of
payment taketrom the person paying them receipt
on the back of each note for the amount allowed
therefor and the date thereof and such officers shall
keep distinct and specific account of said notes
received in payment showing the person from whom
received, the number and dale the day on which ae
received them, and the amount Of the principal and
also the interest allowed by him, and deliver the
said notes and accounts to the public Treasurer and
he shall, thercnpon, and on his oath to the truth Of
SAID account credit for the amount thereof
8. BE it further ordained, That the holders Of
the Treasury notes issued under the authority OF
b this ordinance, may have the same funded, by re-
quest to the Treasurer to give in exchange for them
bonds of the State payable in thirty days at the
public Treasury, and bearing interest at the rate
six per cent per annum, payable half yearly, with
COUPONS attached for The interest, payable also, al
the Treasury; Prooided, hoaeeuer, that such bonds
shall be issued for the amount of FIVE hundred dol
lars, and one thousanddollars only; Ahtl propided
| further That upon, application for such exchange
the interest upon the Treasury notes shall be allow
dup to the first day Of January, April or July
or October next preceding the request for such ex
change the case may be- and the interest on thu
bonds given in exchanges, shall run from the day to
! which the interest on the notes allowed and o
! the notes received BY the Treasurer and Of tn
bonds given in exchange therefor full and accurate
accounts shall also be Kept as aforesaid; and thu
Public Treasurer is authorized and required to issu
such coupon bonds agNeaby to the provisions o
the ninetieth chapter Of the Revised Code, subiec
to the restrictions and notifications herein provided
~ 0. Be 1T further ordained, That the Treasur,
notes SO received at the Treasury from sherffs AM
others, aforesaid shall not be reissued, but shall
be deemed to be paid and be cancelled; and othe
Treasury notesito the same amount and of the sam
denomination, and payable at the same time an,
place. with the same rate of interest may, in lik
manner, be issued in the place of those SO redeemed
/ Provided, nepertheless, That the aggregate amour