Delaware State journal and statesman., 1862-03-04
No. 80. !

AN ACT to authorize the issue Of United States
notes, and for the redemption or funding
thereof, and for funding the floating debt ot
the United States.
BE il enacted By the Senate and House If Rspys-
ssntatives Of he Unasd Suites ef .imericq II Con-
gfess assembled, That the Secretary of the Trea-
sury is hereby authorized to issue on the credit
of the United States, one hundred and fifty
millions Of dollars ot United States notes. mo-
bearing interest, payable to bearer, at the Trea
sury OF the United States, and Of such denomi-
nations Us he may deem expedent, not less thar
five dollars each Propidei, ho,rsrey. That fifty
millions Of said notes shall be in lieu Of the
demand Treasury notes authorized TO be issued
by the act Of July seventeen, eighteen hundred
aud sx.y-one which said demand notes shall
be taken up as rapidly as practicable and the
notes herein provided for substituted for them
And pTovided Jartder, That the amount of the
two kinds OF notes together shall at no time
exceed the sum Of one hundred and fifty millions
Of dollars, and such notes herein authorized
shall be receivable in payment OF all taxes
internal duties, excises debts, and demands Of
every kind due to the United States, except
duties on imports, and Of all claims and demand.
against the United States Of every kind whatso.
ever, except for interest upon bonds and notes
which shall be paid in coin, and she'll also be
lawful money and legal tender in payment oil
all debts public and private, within the United
States, except duties on imports aud interest as
aforesaid And any holders Of said United
States noteg depositing any sum not less than
fifty dollars, or some multiple of fifty dollars,
with the Treasurer Of the United States, or
either of the Assistant Treasurets, shall receive
in exchange therefor duplicate certificates oil
deposit one Of which may be transmitted to the
Secretary Of the Treasury who shall tbereupon
issue 10 the holder an equal amount Of bonds oil
the United States, coupon or registered, as may
by said holder be desired, 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 TWEEN.
ty 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 he re.ssued
from time to time as the exigencies of the pub
lie interests shall require,
Sec. 2. And be il further enacted. That TO en-
able the Secretary Of the Treasury to fund the
Treasury notes and floating debt of the United
States, he is hereby authorized to issue, on the
credit Of the United States, coupon bonds, or
registered bonds, to an amount not exceeding
five hundred millions of dollars, redeemable AZ
the pleasure Of the United States after five wears
and payable twenty years from date, and bearing
interest at the rate of six per centum per annum,
payable semi annually. And the bonds herein
authorized shall be of such denominations not
less than fifty dollars. as may be determined
upon by the Secretary Of the Treasury. And
the Secretary Of the Treasury may dispose of
such bonds at any time, at the market value
thereof, for the coin of the United States, or for
any Of the Treasury notes that have been Or may
hereafter be issped under any former act of
Congress, or for United States notes that may be
issued under the provisions Of this act and all
stocks, bonds, and other securities Of tue United