The daily Green Mountain freeman. [volume] (Montpelier, Vt.) 1861-1865, 1862-02-27
The Treasury Mote J3ill.
u. VI

The Ifi5uac's Washington correspondent gives
the following statement Inspecting the Treasury
Note bill which has just passed bott Houses Of
Congress
The bill, as agreed upon by the rontorees, au-
thorizes the Issue OF $3.50, GOO 900 OF Treasury
Notes, UNIFORM IN similltude, and " legal tender
in tie payment Of all debts, public and private.
1t wltlldra"s the fllsy millions of the July issue
as soon as it convent nifty Can be done, makes
The new notes lIndaDic at any time in six per
cent. twenty year bonds, Iedeemabie a.. tie plea
sure OF tie United States alter iiye years makes
the interest on the notes and bonds payable in
coin, and "a new ~leature) makes the duties on
imports also payable in coin, and devOt ties them
to the payment OF the interest on the notes and
bonds and the creation OF Il sinking fund by set
ting apart one per cent. OF the amount. The
provisions insisted on by the Senate authorizing
the Secretary Vi the Treasury to sell six per
cent. bonds Tor what they viii! fetch, in order to
raise coin for interest, is retained in the bill
All the funded debt is exempted from taxation
Authority rs given to temporarily deposit de-
'nand notes, to the extent Of twenty-five millions.
on an interest OF SIX pr cent after thirty days.
Tie bill has gone through hotA Houses, and. il
is supposed, will receive The Presidents s;gna-
tnre to'uight. An influence IRON New York
sent the bill bac., again to he Senate this morn.
ing. for al amendment that should permit sixty
millions OF Treasury Notes to be used for the
payment ot custom duties, the fifty millions an.
thoriaed in July, and the temporary relief ten
millio.s authorized this month. This Was
adopted and accepted by the House.
The LIST section Of the bill is as follows:
BE IL enacted, &C., That the Secretary Of
the Treasury is hereby authorized to issue, on
the credit OF the Unltod States, one hundred
and fifty millions of dl.lars of United States
Notes, not bearing interest, payable to bearer nc
the Treasury of the United STATES, and of such
denominations as he may deem .expedient-not
less then SIS each.
Prorided, however, that fifty millions of said
notes shai, 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 tax.
en- up as rapidly as practicable, and tho notes
herein provided Tor substituted for them and.
provided further, that the amount of the two
thirds of notes together shall at no time ex-
coed the sum Of $685. 00 600, and such notes
herein authorized shall be receivable in PAYMENT
of all taxes, internal duties, excuses, debts, ex-
cept duties on imports, and demands of every
kind due to the United States, except duties on
Imports, every kind whatever, except for inter
est ~ n bonds and notes, which shall be pajd
in com, and shall also be lawful money, and a
legal tender in payment of all debts, public and
private, within the United States. except duties
On imports as aforesaid and any holders Of
SAID United States notes depositing 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 certificates of deposit, one Of
which may be transmitted to the Secretary Of
the Treasury, who shall thercupon Issue to the
holders an equal amount Of bonds of United
States coupons or registered, as may by said
holder be desired, bearing interest ut tho
rate of six per centnm per annum, pay
BILE semi.annually, and %redcemablea at the pleas
ure Of the United States after five yea sand nay.
able twenty years from the date thereof I'D
such United States Notes shall DO received the
same as coin at their par value in payment for
any loans that may be hereafter sold or nego-
tiated by the Secretary Of the Treasury, and
may I've issued from time to time as the exigen-
Of the public interest may require.
n m, W r r r A ~ n II = r