Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1862-01-29

Tyeossrv Notes to be Lssaed.-Fs"s
Hundred Millions Of Si1 Per lent
Blonde authorized.
Tho following il comprehensive sy-
nopsis of the provisions Of the import
ant financial measure submitted to the
House, on "Wednesday last, from the
Committee of Ways and Means. The
Secretary OF the Treasury has examined
aud approved Of the passage Of the bill.
It will come up on Tuesday next, - .
special order:
1.-THE bill provides that, for temporary
purposes, the Secretary Of the Treasury
IS authorized to issue, on the credit Of
the United States. one hundred million
OF dollars Of United States notes, not
bearing interest, payable to bearer at
the Treasury, or At the office OF the a.
sistant Treasurer in the city OF New
York, at the pleasure Of the United
States, and OF such denominations as DC
may deem expedient, not less than nve
dollars each and such notes, and 81
other United States notes payable on de.
,nand, not bearing interest, heretoior.
authorized, shall be receivable tor OIL
debts and demands due to the United
states, and for all salaries, debts and de-
mands owing by the U oited States to in
dvidual., corporations and association
within the United States, aud shall also
be lawful money and . legal tender in
payment Of all debts, public and private
within the United States; and any hold
ers Of said United States notes, deposit
ing any sum not less than fifty dollars or
other than a mutt pie with the Treasurer
Of the United States, or either OF the
| Assistant Treaeurers, or either OF the
designated Lepositaries at CINCINNATI
or Baltimore, shall receive in exchange
therefor duplicate certificates OF deposit,
one of which may be transmitted to the
Secretary OF the Treasury. who shall
tnereupon issue to the holder an equal
amount in bonds of the United States,
coupon or registered, as may be desired.
bearing interest at the rate of ak per
cent, and redeemable at the pleasure Of
the government after twenty years from
date; or in sums not less than $25, tor
which, if requested, the Secretary, If he
deem it expedient, may issue similar
bonds, the principal and interest Of which
may be expressed in the currency Of any
foreign country and payable there; and
such United States notes shall be re-
ceived the same as COIN, at their par
value, in payment for any bonds that
may be hereafter negotiated by the
Secretary Of the Treasury. and may be
re.issued from time to time as the ex'
gencies Of the public service may re-
quire.
"There shall be printed, on the back
Of the United States notes which may
be issued under this act, the following
words The within note is legal
tender in payment Of all debts, public
and private, and is exchan9able for bond.
Of the United States bearing six per cent.
interest,"
ITO enable the Secretary of the
Treasury to fund the Treasury notes
snd floating debt Of the United States,
he is authorized to issue, on the cred',
OF the United States, coupon bonds, OF
registered bonds, to an amount not ex.
ceeding FIVE hundred million dollars, and
redeemable at the pleasure Of the gov
'rnment after twenty years from date
and bearing interest At the rate Of si2
,cr cent. per annum, payable semiannu
ally Z; and the bonds herein authorized
shall be of such denomination, not les.
than fifty dollars, as may be determined
upon by the Secretary of the Treasury
or in sums not less than twenty five hun
Ired dollars, for which, if requested, the
Secretary, if he deems it expedieot, may
issue similar bonds, the principal and in.
terest of which may be expressed in the
currency OF any foreign country, and
payable there.
"Thc Secretary is authorized to issue
said bonds at their par value to any
creditor or creditors Of the United
States, who may elect to receive them
10 satisfaction of their demands: Pro
vided, That all such olalms or demand.
shall have been first audited and settled
BY the proper accounting officer of the
Treasury and the Secretary Of the
Treasury may also exchange such bonds
| 1t any time for lawful money of the
United States, or for any Of the Treas
ury notes that have BEEN or may here.
after be issued under any former act Of
Congress or that may be issued uudc,
the provisions of this act.
1.-THE United States notes and bonds
authorized by this act, or that have
been heretofore authorized, shall be
sigoed by the Treasurer of the United
States,or for the Treasurer by such per-
sons as may be specifically appointed by
the Secretary of the Treasury for ouch
purpose, and shall be countersigned by
the Regiatrar Of the Treasury, or tor the
Registrar by such peraons 40 the Secre-
tary Of the Treasury may specially ap-
point for such purpose; and all the pro-
visions of the act entitled IAN act to
authorize the issne of Treasury notes, +"
approved on the 23d Of December, ! 657,
90 far - they can be applied to this act,
and not Inconsistent herewith, are re.
vived and reenacted; and the sum oil
100000 is appropriated to enable the
Secretary Of the Treasury to carry this
act into effect"
REPEAL OF THE "PERsoNAL LIBERTY
Laws" or WrscONarN.-Tn 1ho W;scor,