The sun. [volume] (New York [N.Y.]) 1833-1916, 1862-02-07
The Treasury Note Bill.

The following are tho first two sections Of the
Treasury Nuto Bill rs passei by the House yester-
day. TAcy contain all The important features Of
the m
Be il enacted Jy tie Senate and Hou,e ~ Repye-
-e'ttdtires ~ me United States, IN Congress as
scHbltd.
That ~ meet tho necessities Of the Treasury II
the United States, aud e. provide a currency re-
ceiySOle iIr the public duts- the crstary Of the
Treasury s hereby authoril i h. ISSUE ga Tue credit
ni the Unitod stsios, one hundred and fty nil
lions Of dollars of United States notes NJ, uearin.
interest, payable u bearer At the Treasury OF tue
United States ut Washington or New York. and Of
such d.Hu ma nations AZ us may deem eNp, mot
less than 10 each; Provided, however, Inat dfty
millions of sad notes shall Is ia leu Of the demand
Treasury Notes authorized 10 be issued by the at
oiJuly seventeen, eighteen hundred and siXty.,ue,
which sad demand notes shall be taken up - rap
IDLY AZ rAc,lcsla, aud the notes herein provided
or substituted for them; AMI pr, yidei, further,
That the amount of the two kinds Of notes tDgtthor
-hsl at time exceed the SUN u one hundred and
Gfty millions OF dollars And such uoies herein
authorized shall ue receivable In payment Il R ttN
ts duties, impusts, eX Use, deUts and demands -
every Kind due y the United States aud for all s,
arIoa,deuts and demands owing 10y the lnited STATES
o - $780, "orpurstons aud associations with
hey anu legal sender in payment of all debts M, b.
lN thd ptlNsth within the UGitei nts. Am nr,
tnideru oil said Uditcl States notes den,sitit, ~,
sHin hot less than nay dollars, or some multi5.s II
my dollars, with the Treasurer Of the Tnitsd
o'"e@ 81 either OF the assistant tte,s,lrsrs sb M
receive IN exchange therefor dup ,a,e r,tas
n DEPOSIT one Of witch may he transmt,tei
% the Secretary " tho Treasury, VII sL.li
theteup1n issue H. the holder Of I'M emu. go,
"i bonds Of the United States, coup N or re,i'
teIel, sH may by sad holder be dssired hearing
interest ~ the rate ~ six per crut,tu rer nn,,,
pHyallt sem-annuudly at the Tr.,s,iry r s,'
Treasures OF the ulited States sand redc,m,bie a,
me pressure oI the tntei States after twenty ye,rs
from the date thereof Provided, That lie \. =
tAry u the Treasury shall upon presenta, ,,r 80
It hcates of deposit, issue H. the holder tb,rf "a
s nrs ulH. i' ana instead II the bonds aresly de.
seflb'd' an equal amount ~ boids Of the I'nitcl
sr"rs, COUPON or registered, may by said
holder De desired, bearing intcr.s, n,
We ratio OF seven per cent per Innnutn ma
Alle Ia coin commemorative, ami ,oI.in,.
awe ~ the pleasure ~ the United States after fl va
years rom the date hcreof And such UnitSi states
notes email b. received the same AZ coin "A tb.ir
Lar Saue, IA pay inrht t"r any loans that may be
hereafter sold or negotiated by the Secretary ~ the
treasury, aud may he re-iHsusd from time 10 time
u the eAlgeneirs of the public interests shall re-
Tute. Ihere shall h" printed on the back OF the
United States notes, which may he issved under the
provisions Of this act, the following words "a The
VIII In note Is legal tender la pay nent Of All debts
puohc and private and IL exchsngeable for bonds
OF We nted States bearing six per csntum inter,t
years." ~ N'o
Ser. ?. And be Il TURNER enacted, Ina, 10 en,b,a
Tue Secretary 81 the Treasury h. fund the treasur
notet ana floating debt Of the United States he ia
hereby authorized o. issue. on the credit Of the
United States, coupon bonds, registered bonds,
y an amount not exceeding 1--WE hundred million or
nhllars and redeenahle At the pleasure OF the DO
Vernmtnt after twenty years from date and bearing
interest At the rata Of six per centum per
nnlm' payable semi-anIualy. And the bonds
herein authorized shall be II such dsno.
mina,onS not less than fifty dollars. AS
may be determined upon by tho Secretary - the
treasury: Aud the Secretary Of the Treasury m ay
dispose of such bonds st any time for lawful money
Of the | nitsd States, Cor any OF the TrsAsur,
Totes that have been, or may hereafter be issued
under any former act Of Congress, or FOR United
states notes that may bo issued under the pr,.
Visions 81 this act and all stocks, bonds and
other securities of the aited states held Ly indi-
Ndu'ls, corporaunnS, or associations within tue
United States, snail be exempt from tx,tiou ly any
state or county.