Sioux City register. [volume] (Sioux City, Iowa) 1858-1871, 1862-03-01
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THE TREASURY NOTE BILL

Be it enacted by the Senate and House
Of Representattres of the United S,ctcs, IN
Congress assembled: Tha: to NEE. the
necessities OF the Treasury Of the United
States, and 10 provide q currency receiva
Die for the public dues, the Secretary Of
the Treasury is hereby authorized to issue,
on the credit Of the United States, $50,
000,O 900 of United States notes, NJ. bear.
ing interest, payable to bearer. a. the Treas
ury OF the United States at Washington or
New York, and of such denomination as
he may deem eXpedieEt. no; less than s.
each provided, however. that Of The de.
rnand Treasury notes authorized to be is-
sueo by the &C, of July II, 1851; which
said demand notes shall be taken up as
rapidly as practicable, and the notes herein
provided for substituted for them: Aud
provided. further, that the amount Of the
two kinds Of notes together shall at no
time exceed the sum Of $50 000. $50 -
Aud such notes herein authorized shall be
receivable in pay ment Of all taxes, duties,
| imposts. excise, debts and demand; OWING
BY the United States to individuals, corno.
ratirns and associations within the United
States. and shall also be lawful money and
legal tender in payment! Of all debts,
pubic aud private, within the United
States And any holders Of said Ua,ed
States notes deposting any sum not less
than $50, or some multiple OF $50. with
the Treasurer OF the United States. or
either of the Assistant Treasurers, shall
receive in exchange therefor duplicate Ger.
tiicates OF deposit, one Of which may be
Transmitted to the Secretary of the Treas.
ury, who shall thereupon issue to the
holder an equn! amount Of bonds t the
United States, coupon or r 4is.ared, as
may by said holder be desired, bearing in
,erest at the rate Of six per centun per
annuin, payable semi annual'y at the
Treasury o. Sub T'reasurers Of the United
States, and redeematle q, the pleasure Of
Of the United States after twenty years
from the date thereof: Prorided that the
Secretary Of the Treasury shall, upon pre-.
sentation of said certificates Of deposit
issue to the holder thereof of his opinion,
and instead OF the bonds already described,
an equal amount Of bords Of the United
States, coupon or registered, and may by
said holder be desired, bearing interest ct
the rate Of seven per cent. per AMMAN,
payable in coins semi-annuaIIy, and re
deemabie at the pleasure o: the United
States after Eve years from the date there.
Of And such United States notes shall
be received the same as coin, at their par
value, in payment Of any loans tia. may
be hereafter sold or negotiated by the Sec.
rotary Q. the Treasury, and may be geis-
sued from time tO time as the eXisaacies D!
the public interest may require. There
shall! be printed on the back Of the United
States notes, which may be issued under
the provisions Of this act, the following
words: The within note is legal tender
in payment Of al! debts, public aud private,
and is exchan geable for bonds Of the
United States bearing six per centnm in
teres. at twenty years, or in seven per
centum bonds at five years
SEC, 2. And he IL f;rther enacted, TLa.
to enable the Secretary of the Treasury to
fund the Treasury notes aud floating debt
of the United States, he is hereby author.
lied TO issue. on the credit Of the United
States, coupon bonds, or registered bonds,
to an amount not exceeding $500 0aO, 900,
and redeemable at the pleasure Of the
Government. inter twenty years from date,
and bearing interest at the rate of six per
cenium per annum, payable semi annually.
And the bonds herein authorized shall be Of
such denominations, not less than fity
dollars. as may be determined upon by the
Secretary Of the Treasury. And the Sec.
rotary OF the Treasury may dispose Of such
binds at any time for lawful money Of the
United States, or any OF the Treasury
notes that have been or may hereafter be,
issued under am former act Of Congress,
or for United States notes that may be is
sued under the provisions of this ac. and
al: stocks. bonds, and other securities Of
the United States held BY individuals, cor
pora,ions within the United States, shall
be exempt from taxation by my State or
county.
The remaining portions of the bill direct
the manner and style ofexecu.ing the notes
and bonds; to bear the written or engraved
signatures Of the Secretary Of the Treasu
~. and Of the Register also; provides
against counterfeiting and for the custody
Of the platns &c