The New York herald., 1862-01-23
NEWS FROM WASHINGTON.
Important Financial Measure
Presented to Congress.
One Hundred Millions of Demand
Treasury Notes to be Issued.
Five Hundred Millions Of Six Per Cent
Bonds Authorized.
Forty Eight and Half Million Dollars
Required for the Naval Service.
INTERESTING DEBATES IN CONGRESS-.
Speech Of Mr.. Stevens, Of Pennsylvania, in
Favor Of Arming the Slaves.
~-~~,~.>~oo~-~~-.>~>>~
Remarks of Senator Davis, Of Kentucky, In
Regard to the Expulsion Of Senator Bright,
&c, &C., &C.
Five Hundred Millions Of Six Per Cent
Bonds Authorized.
ty-Eight and a Half Million Dollars
Required for the Naval Service.
INTERESTING DEBATES IN CONGRESS-
Speech Of Mr.. Stevens, Of Pennsylvania, in
Favor Of Arming the Slaves.

henAaEAs VI ScudtOE DOviss VI MCuuCAys n
Regard to the Expulsion Of Senator Bright,
&c, &c., &c.
WASHINGTON, Jan. ~. 1891
THE TREASURY NOTE BILL PRESENTED TO CONGRESS.
The following the main points of the bill reported TO-
day from the Committee or Ways and Means providing
for an issue Of demand Treasury notes.
The nrs section provides the ssue hundred
millions Of demand Treasury bearing interest
and making them legal tender in payment for all debts
public and private and applying the same to the nfsy
millions previously authorized under the acA
Of the last session, making together hun
dred and hfty millions Of legal tender notes,
convertible at the option the holder into per cent
bonds of the United States and receivable the
coin any negotiations by the Treasury Department
The second section provides for issue Of Ave hundred
millions Of twenty years. six per cent bends, which are
to be used the payment Of the floating debt of the
States and funding the Treasury auho
rzcd by the first section.
The Secretary Of the Treasury examined the bill and
approved it's passage The bill has been referred 70 the
Committee Of the Whole the State Of the Union, and
made the special order for Tuesday next O'Clock
Annexed is given comprehensive synopsis q
the provisions Of this important measure
Tho bill provides that, for temporary purposes, the
Secretary OF the Treasury authorized ISSUE the
credit of the United States hundred millions Of dol
ars United States notes. bearing interest payable
to bearer at the Treasury the once Of the Assistant
Treasurer In the city Of New York. at the pleasure d
de.m expcdient not less than ave dollars each; and
such notes. and all other United States notes. payable
demand, not bearing interest. heretofore authorized
shall be receivable for all debts and demands
due To the UaieeA States, and for an salaries, Ase
and demands owing BY the United States 70 ndivdual0
corporations and associations within tho United States
and shall also be awful money legal tender In pay
meat Of al debts public and private within tho United
States and any holder OF said United States d.
posting any less than fifty dollars other than
multiple with the Treasurer Of the United States q
either o the Assistant Teasurers either Of the des-
mated repositories at Cincinnati Baltimore, shall
exchange therefor duplicate certificates OF
post Of which may be transmitted 70 the Secretary
Of the Treasury, who shall thereupon issue 70 the
holder an equal amount in bonds Of the Unitsd
States, coupon or registered - may be
desired, bearing interest at the rate o.
six per cent and rcdeemab!e the pleasure Of the
government after twenty years from date: in
not less than twenty dollars for which, requested,
the Secretary, hc deem IL expedcnt, may issue similar
bonds, the principal and interest Of which may be
pressed in the currency Of any foreign country, and
payable there and such United States shall be
ceved the coin at their par value, payment
for bonds that may hereafter be negotiated by the
Secretary Of tho Treasury, and may be rcssusd from
time to timc the sxgences Of the public service may
require.
There shall be printed the the United States
notes which may be issued under the provisions Of this
act the following words-"Thc within legal ten
der in payme Of all debts public private ex-
chaugcable for bonds Of the United States bearing six
per cent interest"
To enable the Secretary Of the Treasury fund the
Treasury and floating debt Of the United States
is authorized TO ISSUE the credit Of the United Sates
coupon bonds registered bonds, to
cceding Ave hundred millions Of dollars, redeem
able at the pleasure Of the government after
twenty years from date, and bearing interest
at the rate or six per cent per annum,
payable semiannuay, and the bonds herein authorized
shall be Of such denomination not less than ty dollars
may be determined upon by the Secretary tho
sury in not less than twenty hundred dol
lars for which, requested the Secretary II no deems
1t expedent, may issue similar bonds tho principal and
interest Of which may be expressed the currency Of
any foreign country, and payable there.
The Secretary is authorized 10 issue said bonds
at their par value to any creditor or creditors
Of the United States who may elect TO rccsive
them in satisfaction Of their demands provided that
all such claims shall have been drst audited
and settled by the proper accounting officers the rea-
sury and the Secretary Of the Treasury may also ex
change such bonds any time for lawful money OF the
United States for any Of the Treasury notes that have
been hereafter be issued under any former act OF
Congress- that may be issued under tho provisions OF
this act.
The United States notes and bonds authorized by this
act, that have been heretofore authorized shall be
signed by the Treasurer Of the United States or for the
Treasurer by such persons may be specifically sp-
pointed by the Secretary Of the Treasury such pur
pose and shall be countersgned by the Registrar OF the
treasury for the Registrar by such persons the
Secretary OF the Treasury may specially appoint
purpose, and all the provisions OF tho act entitled
"An act 10 authorize tho issue Of Treasury
notes." approved the 23d day Of December,
1857, so far a. they bc applied TO this
act and not inconsistent herewith arc revived re-
enacted and the Of $500 900 appropriated 10
able the Secretary Of the Treasury carry this act
effect
The principal unfinished business before the Com.
mittse of ways and Means is the tsx and bank bills
They hope be able to report the tax and bank bills AZ
the same time tho Treasury Note bill s taken up for con-
sderation.
THE BUSINESS OF THE WAR DnPARrxEr
The following copy Of the placard posted on ,,,o
doors Of the War Department.
WAR DEPARTMENT, Jan. I. 1892
II is ordered that the War Department will be closed
tC0NIINUED ON EIGHTH PAGRl