The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1862-03-12
zinc uni,ed slates Nole n,lI.

The following is the bill as il finally pass
ed both houses OF Congress, authorizing tn,
issue Of United States notes, and for the re
demption or funding thereof and lor funding
the floating debt Of the United States.
AN ACT to authorize the issue Of United
! States notes, and for the redemption OF
/ funding thereof, and for funding the float
ing debt OF the United States. =
/ Be IL enacted dc, That the Secretary o
the Treasury is hereby authorized to issue Oh
The credit OF the United States. one hundred
and fifty millions Of dollars OF United States
notes, not bearing interest, payable to bearer
at the Treasury of the United States, and Of
such denominations as be may deem sxpedi
ent. not less than five dollars each; provided
however. that fifty millions Of said notes
shall be in lieu of the demand Treasury notes
authorized to be issued by the act Of July II,
1861, which said demand notes shall be ia.
ken up as rapidly as practicable, and the
notes herein provided for substituted for
them; and provided, further, that the amount
OF the two thirds of notes together shall at
no time exceed The sum Of one hundred and
fifty million dollars, and such notes herein
authorized shall be receivable IN payment OF
cept duties on imports, and demands of every
kind due TO the Uniled States except duties
on imports, and Of all CLAIMS and demands OF
against the United States OF every kind
whatsoever, except for interest upon bonds
and notes, which shall also be lawful money
and legal tender in payment Of all debts,
public and private within the United States
except duties on imports and interest as afore-
said; and any holders OF said United States
notes depositing any sum not less Than fity
dollars, or some multiple offifty dollars, with
the Treasurer of the United States or either
Of either of the Assistant Treasurers, shall
receive in exchange therefor duplicate certi-
tcates Of deposit, one Of which may be trans
mitted to the Secretary of the Treasury, who
shall therenpon issue to the holders an equal
amount Of bonds OF United States coupons
or registered, as may BY said holders be de-
sired, bearing interest at the rate of six per
centum per annum, payable semi annually,
and redeemable at the pleasure Of the United
States after five years, and payable twenty
years from The date thereof; and such United
States notes shall be received, the same as
coin at their par value, in payment for any
loans that may be hereafter sold or negotiated
by the Secretary Of the Treasury, and may
be re issued from time 10 time, as the exigen.
cies Of the public interests may require.
4 SEC. 2. Ana be it further enacted, That to
enable the Secretary Of the Treasury to fund
the treasury notes and floating debt of the
United States, he is hereby authorized to is
sue on the credit Of the United States cou-
pom bonds, or registered bonds, to an amount
not exceeding $500,00 900, and redeemabe
at the pleasure OF the United States after five
years and payable twenty years from date,
and bearing interest at the rate OF six per
certum per anuum, payable semiannually.
And the bonds herein authorized shall be OF
such denominations, not less than $50, as may
be determined upon by the Secretary OF the
Treasury. And the Secretary OF the Treas
ury may dispo'e OF such bonds at any time
ar the market value thereof, for lawful mon.
ey) the coin Of the United States, or for any
Of the treasury notes that have BEEN, or may
hereafter be, issued under any former act Of
Congress, or for the United States notes that
may be issued under the provisions, Of this
lct; and all stocks, bonds, and other securi
lies Of the United States held by individuals,
corporations, or associations within the Uni |
ed States, shall be exempt from taxation by
,r under State authority. |
SEC. 3. And be it further enacted, That the
United States notes and the coupon or regis
4 red bonds authorized by this act shall be
n such form as the Secretary of the Treasu
y may direct, and Shall bear written or en-.
,raved signatures Of the Treasurer OF the
United States and the Register OF the Treas.
Try, and also, as. evidence Of lawful issue. the
imprint of a copy Of the seal OF the Treasury |
Department. which imprint shall be made
lnder the direction Of the Secretary, .afer
he said notes or bonds shall be received from
he engravers and before they are Issued; or
he said notes and bonds shall be signed by !
he Treasurer Of the United States, or .or the |
Treasurer by such persons as may be special
y appointed by the Secretary of the Treas
Try for that purpose, and shall be counter
igned by the Register osthe treasury, or for
he Register by such persons as the Secretary
# the Treasury may specially appoint for
ct entitled IAN act to authorize the issue of
Treasury notes" approved the 23d day OF
December. 1851, 50 far as they can DO applied
o this act, and not inconsistent Herewith,
re hereby revived and re enacted; and the
um OF 100000 is hereby appropriated. out
# any mon y in the Treasury not herwise
.pp. opriated. to enable the Secretary of the
Treasury to carry this act into effect.
SIC. f. And be IL further enacted, That the
Secretary Of the Treasury may receive from
my person or persons, or any corporation,
United States notes on deposit for not less
han hirty days. in sums ofnot less than one
lundrel dollars, with any Of the Assistant
or designated depositaries Of the
United States authorized by the Secretary Of
he Treasury to receive them, who shallissue
herefor certificates Of deposit, made in such
8 form the Secretary Of the Treasury shall
,rescribe. and sail certificates or deposit shall
,ear interest atthe rate OF five per cent. per
nnurI; and any amount of United States
totes so deposited may be withdrawn from
epositat any time after ten days notice on
he return of said certificates Provided, that
he interest on all lsuch deposits shall cease
nd determine at the pleasure OF the Treas
Try; And provided further, that the aggregat
# such deposits shall at no time exceed the
mount of twenty five million dollars. llfH
7 SEo 6. 44,,d be IL further enacted, That all Il
uties on imported goods which shall be paid
d coin, or in notes payable, or in demand
Iotes, heretofore authorized to be ieceised
nd by law receivable in payment OF public
uss, and dahes scoin so paid shall be set apart
Q q special fund and applied as follows: . 3iN
3 Fsfst 10 the payment in coinof theinter
st ON the bonds and notes sof the United
,taies. talii m3l}tssss ytls 3N3it9s aft ieixil
Second TO the purchase Or payment Of one
er centum Of the entire debt OF the United
Itates, 10 bs made within each fiscal year
fter the 1stday Of July, 1882, which is to be
et apart as sinking fund, and the interest Of
ghich shall in like manner be applied to the
nrchase or payment Of the public debt, as
he Secretary Of the Treasury shall from time
0 time direct. s4 seEeg9 's'
Thbd-The residue thereof to be paid into
he Treasury oi the United States.
SEC. 8. .Ana be IL further enacted That II
ny person or persons shall falsely. make,
orge, counterfeit or alter. or cause or procure
B be falsely made, forged, couniereited or
ltered, or shall willingly Did Or assist in