The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1862-03-04
AN ORDINANCE
To proui0e for funding the Treasury Notes Of
this State, and for other purposes.

AN ORDINANCE e
To ,oropide for funding the Treasury Notes OF
this State, and for other purposes.
l. Be it ordained, &C., That any of the Treasu-
ry Notes Issued or hereafter to be issued under
the ordinance of this Convention ratified the lst
of December, 1861 directing the issue of three
millions Treasury Notes, as we'll as those to be
issued by ordinance of the present session, en-
titled Gan Ordinance to provide for the assump-
ton and payment Of the Confederate Tax, may
be funded at the will Of the holder, in Coupon
Bonds of the State, to be prepared by the
Treasurer, and payable in 20 years or sooner
at the pleasure of the State, and bearing interest
at the rate of eight per cent. per annum, payable
semi-annualy, at the Treasury, or in six per cent.
bonds Of the State payable 80 years after the lst of
January, 1862, interest payable seml-annually,
exchangeable in Treasury Notes, at the option Of
the holder, frcm time to time, until the Treasury
Notes fall due. said bonds bein. of the denomina-
tions of $500 and 500 in equal portions.
2 Be it further ordained, That all taxes due
to the State to Counties, and for School pur-
poses and taxes for the poor and all payments for
entries of public lands and all other dues to the
State and all fines and forfeitures for the use of
the State or Counties, shall be paid in Treasury
Notes of the State Of the Confederate States
or in the notes of such of the solvent Banks of
this State shall receive and continue to receive
and pay out, as money, at par, the Treasury Notes
of this State, or in gold and silver coin; and it
shall be the duty of the Treasurer to issue instruc
tons to the Sherifs and Tax Collectors in the
several Counties this subject, and it shall not
be lawful for any Sheriff or Collector to receive
taxes in any other funds than directed by the
Treasurer under this ordinance.
3. Be it further ordained, That all the Treasury
Notes funded in Bonds, paid into the Treasury
for taxes or other public dues, may be reissued
III payment of the debts of the State, or in ex-
change for six per cent bonds of the State, ap-
plcation Of the holder at any time before the
Notes fall due: Prorjde3, That the Treasury
Notes issued to pay the Confederate tax shall not
be used to pay the debts Of the State; and the
Treasurer aud Comptroller shall each keep an
account of all notes rc-issued, and those refunded
in bonds from time to time, and the date Of such
transaction, and particularly noting the interest
each bond when taken up, and the amount Of
interest due on each bond when exchanged for
Treasury Notes, and in all cases shall charge the
party receiving such bonds with the interest due
at time of delivery
4. Be it further ordained That as the exigencies
of the public service may, in the opinion of the
Governor require before the first day of January,
1868, the public treasurer is authorized and re-
quired to issue other Treasury Notes aforesaid,
not exceeding in amount the further sum of fif-
teen hundred thousand dollars, and that the said
notes shall be prepared, signed and issued as in
the said ordinance, ratified the first day Of Dec
1861.
s. BE it further ordained, That the aggregate
amount Of said Treasury Notes outstanding at any
one time, and of the bonds given in exchange for
or discharge of Treasury notes as aforesaid, shall
not exceed the amount of such notes authorized by
law heretofore, or in this ordinance.
g. Be it further ordained, That it shall be the
duty of the Treasurer, convenient, to
issue Treasury notes of the denominations of five,
ten and twenty dollars, in equal amounts, instead
uf and to exchange for any of the Treasury notes
heretofore issued not bearing interest Of the
of fifty and one hundred dollars on
the application of the holders of said notes; and
when So taken up or exchanged, the said notes of
fifty and one hundred dollars shall be cancelled
and the same shall be noted by the Treasurer on
his books and on the books OF the Comptroller.
I. Be it further ordained, That fany one shall
falsely forge or knowingly pass offer to pass any
false forged or counterteited paper purporting to
DO Treasury note or bond of this State he shall
be liable to indictment in the Superior Courts in
The county in which such offence may be commit.
ted and on conviction thereof, shall suffer all the
pains aud penalties inflicted by 18th section of
34th chapter of revised code On persons convicted
of forgery.
s Be it further ordained, That in addition to
the Treasury notes heretofore ordered to be issued
it shall be the duty of the Treasurer to issue one
million of dollars in small denominations, to-wit:
four hundred thousand dollars in the denomna-
ton of TWO dollars, four hundred thousand in the
of one dollar, one hun1r thousand
dollars in the denomination of fifty cents, fifty
thousand dollars in the denomination of twenty five
cts, twenty-f thousand dolls. in the denonlina-
ton of twenty cents, and $4,000 dollars in the
of ten cents, payable the first
day of January, 1866, to be used in liquidation of
any claims against the State to persons willing to
receive the same but not to be funded in bonds of
the State, but shall be receivable in payment Of