Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1862-03-14
VOL. XLIII.
The Treasury Note Bill.

So many amendments have been made in the
Treasury Note Bill since its provisions were
given to our readers, that the following synOp-
sis of the bill as it finally passed both Houses,
will be useful 10 our readers:
Section first provides that tie Secretary of
the Treasury be authorized to issue Sl5O,0OO,-
600 of United States notes, without interest
payable TO bearer, and of such denominations
as may be deemed expcdient, not less than fifty
dollars; $50, ,00O, 900 of these TO be in lieu of
the demand Treasury = otes authorized in July
last, which shall be taken up as fast as possible
ard notes here provided substituted for them.
These notes shall be receivable in payment Of
all taxes. debts, &C., except duties On imports,
and OF all claims ard demands against the Z nj
ted States, except for interest upon bonds and
notes, which shall be paid in coin. The notes
shall be a lawful tender in payment of all debts.
except the above exceptions. Any holder Of
these notes, depositing sum not less than ffty
dollars or some multiple of fifty dollars with
the Treasurer of the United States, shall re-
ceive duplicate certificates Of deposit, one 10
be sent to the Secretary of the Treasury, who
shall issue 10 the holders an equal amount of
bonds of the United States. bearing per cent
interest, payable semi annually, and Iedeema-
able after FIVE years. ard papable twenty years
after date These United States notes to be
received as coin at their par value in payment
of any future leans by the Secretary of the
Treasury.
Section second provides that the Secretary
of the Treasury is authorized TO issue, on the
credit of the q. S., bonds to an amount not ex-
IL
years and payable in twenty years, bearing six
per cent, interest, payable semi annually, with
which to fund the Treasury notes and floating
debt These bonds TO be not less than $50
each. All stocks, bonds, and other securities
OF the United States held by individuals, cor
porations or associations shall be exempt from
taxation by State authority.
Section thid describes the form and Gu
craving of the notes and bonds, and appro-
PIRATES 100000 with which TO execute The
work.
Section fourth provides that the Secretary of
the Treasuray may receive on deposit for not
less than thirty days, United States notes. in
sums not less than one hundred dollars, the de
positors. TO receive therefor certificates Of de-
post which shall bear Interest at the rate OF
FIVE per cent. per annum. The sums may be
Withdrawn at any time ate giving ten days no
tice on the return of the certificates, provided
that the interest on these shall cease al the
pleasure of the Secretary Of the Treasury, and
that the aggregate Of such deposits shall not
exceed at any one time $25,OOO,O0O.
Section fifth provides that all duties on ai-
ported goods, paid in coin, shall be set apart
as special fund, 10 be applied as follows: lst,
to paying in coin the interest on the bonds and
notes Of the United States: ID to the purchase
Of one per cent. Of the entire debt Of tie Uni
ted States, which is 10 be set apart as sinking
fund. and the interest Of which shall in like
manner be applied to the purchase or payment
of the Imblic debt: 81, the residue TO be paid
into the United States Treasury
Section sixth provides that any person coun-
terfeiting any United states note, bond or 9th
er security, or who shall pass, or have i'll their
possession, any such counterfeit. shall be guilty
of felony and punished by fine not exceeding
$4,000, and imprisonment not exceeding fifteen
years
Section seventh provides a similar penalty y
for all persons guilty OF countcrfeiting or ille-
gally issuing any plates or cngravings printed
for these notes, bonds sc.