Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1863-03-11
THE WAYS AND MEANS BILL.


The Congressional conference commit
tee on the Ways and Means bill have
agreed upon all points but one-lhe tax
alton upon Bank oirculation-to settle
which new committee has probably been
appointed. The points agreed upon by
the committee put the bill in this shape.
The Secretary Of the Treasury shall lie
authorized to borrow from time to time,
on the credit Of the United States, sum
not exceeding S5OO,COO,OOO for tho cur~
rent fiscal year, and 5000, 100000 for the
next fiscal year, and to issue therefor
coupon or registered bonds, payable at the
| pleasure Of the government, after such
periods as may be fixed by the Secretary
! not less than ten nor more than forty
years from dNte-in coin, and of such de.
nominations, not less than $50, as he NAV
deem eEpedient, bearing interest at q rate
not exceeding @ per cent. payable in bonds
not exceeding S!O0 annually, and on all
other bonds semi, annually, in coin: and
he may in his discretion dispose of such
bonds at any time upon such terms as he
may deem most advisable for lawful mon,
ey Of the United States, or for any of the
certificates of Indebtedness or deposit, or
for any Of the Treasury notes heretofore
issued or which may be issued under the
provisions Of this act and all bonds or
Treasury notes, or y States notes, issued
under the provisions Of this act, shall be
exempt from taxation by or under State
or municipal Authority; provided there
shall be outstanding OF bonds, Trea ny
notes and U. States notes, at any lime is,
sued under the provisions Of this act, no
greater emount altogether than the sum
| Of S9yC,COO,OOO. The Secretary of the
Treasury is authorized to issue on the
credit of the United States 100000, 900
| in Treasury notes, payable at the pleasure
of the United States, or at such time or
times, rot exceeding three years from
date, as may be found most beneficial to
the public interests, and bearing interest
at rate not exceeding six per cent, pay
able at the periods expressed on the face
of said notes, and the interest on said
notes and on certificates Of Indebtedness
and deposit thereafter issued shall be
lpaid in lawful money the Treasury notes
! thus issued to be Of such denomination as
! the Secretary may direct not less than
SO, and may be disposed of on the best
terms that can be obtained, or may be
paid to any creditor Of the United States
willing to receive the same at par. These
Treasury notes may be made legal ten,
der to the same extent as the United
States notes for their face value, Excluding
interest or they may be made exchanges
able under the regulations prescribed by
the Secretary, 10y the holder thereof, at
The Treasury in Washington, or at the
Office Of any assistant treasurer or deposi'
tory designated for that purpose, for Uni-
ted States notes equal in amount to the
| Treasury notes offered for exchange, to-
gether with the interest accrued and due
thereon ut the date of interest payment
next preceding such exchange; and in
lieu of any amount Of said Treasury notes
thus exchanged, or redeemed, or paid at
maturity, the Secretary my issue an
equal amount Of other Treasury notes, ,a.d
| the Treasury notes so exchanged
redeemed, or paid shall be Cancelled
and destroyed as the Secretary may di-
rect. In order 10 secure certain and
prompt exchanges Of United States notes
when required as above provided, the
Secretary shall have power TO issue Uni'
ted States notes to the amount Of SljO,,
900, 900 which may be used, if necessary,
for such exchanges, but no part of the
United States notes authorized by this
| section shall be issued for, or applied TO-
any other purposes than said exchanges
and whenever any amount shall have
been so issued and applied the same shall
be replaced as soon as practicable from
the sales of the Treasury notes for the
United States notes. Secretary is author.
lied, if required by the exigenc.es of the
public service for the payment Of the ar
my and the navy and other creditors o
the government, to issue on the credit o
the government one hundred aud fifty
million dollars Of United States notes, in
cluding the amount of such notes hereto
fore authorized by a joint resolution pas
sed January last, not bearing interest anl
Of denominations not less than one dollar
The seventh section Of the original bill j
stricken out. 1t provided that on and al
ter March next, the coupons on al
bonds and Treasury notes Of the Uniteg
States heretofore issued, and which may
DO issued, shall at any time within thirty
days before they come respectively due
and at any time after they become due, b,
receivable .or customs as coin. The sec
tion modifying the Independent Treasur.
law is also omitted.
!
re- Some young ladies feeling them
selves aggTieved by the severity will
which some Of their friends animadvert
ed on th,irlgay plumes, crinolines, scarle
petticoats aud hounces, went to their pas
tor to learn his opinion.
DO You think, said they, that Their
= !. - :.