The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1863-04-17
All ACT
To Provide for the Funding and Fur
theT Issue of Treasury Note.

Or stock, until the tweHty second day Of April,
eighteen hundred and sxty-thrse; that from that
date until the first day of August, eighteen hun
dred and sixty-three they shall be funded IN
seven per cent. bonds stock, and after the said
first day Of August, they shall no longer be fund
able at the pleasure Of the holder, but shall be
receivable in payment Of public dues, except the
export duty on cotton, and payable six months
after the ratification O. treaty Of peace, as spe-
cited on their face. All Treasury notes not bear
ing interest, issued after the first day of De-
ceffber, eighteen hundred and sixty two, and
within ten days after the passage OF this act shall
| be fundable in seven :er cent. bonds or stock
until the first day Of August next; ard after the
said first day of August shall be fundable only in
bonds bearing interest at the rate If four per cent
per annum, and payable at any time not exceed
! ing thirty years from the date thereof; and all
such notes not funded shall be receivable in pay
ment Of all public dues, except the export duty
on cotton, aud shall be payable six months after
| the ratification of treaty Of peace between the
| Confederate government and the United States
All call certificates bearing eight per cent inter
est, shall with the accrued interest be fundable
| on or before the first day Of July, eighteen hun.
! bred and sixty three, into bonds Of the Confcd-
crate States, bearing interest at the rate Of eight
per cent. per aunum and payable at any time not
exceeding thirty years after heir date Prorided,
option Of the holder, be paid instead Of being
funded. All call certificates of every description,
| outstanding he fret day { lul-, eighteen hun
bred and sixty three, shall, after that date, be
deemed TO he bonds bearing an annual interest Of
SIX per cent, aud payable at date not exceeding
thirty year from the said first day of July, eigh.
tcsa hlsadpsd sud sixty-three.
Sac. ?. In lieu of the power heretofore given
! By law 20 the Secretary of the Treasury to issue
! Treasury notes. he shall be authorized to issue
| monthly, an amount of such notes, bearing no
| interest, not exceeding fifty millions of dollars,
/ which shall be receivable in payment Of all pub
tic dues except the export duty on cotton, and
payable within two years after the ratification Of
a treaty of peace between the Confederate States
aid the United States, and fundable at the pleas
ure Of the holder, during twelve months from the
first day of the month of their issue, in bonds Of
| the Confederate States, payable at any time not
exceeding thirty years after date, and bearing
rates of interest rs follows: II funded within
twelve months from the first day of the month of
their issue. the bonds shall bear six per cent. in
terest per annum; if funded after that period they
shall be fundabe into bonds bearing four per cent.
interest per annum. These notes shall bear upon
their face the month and year of their issue, and
if not funded, shall be paid at the time specified
on their face without interest
SEC. g. After the passage Of this set, the au.
thOrity heretofore given to issue call certificates
shall cease but the notes fundablc into six per
cent bonds may be converted at the pleasure If
the holder into call certificates bearing interest
at the rate of five per cent per annum, from the
date of their issue. That every such certificate
shall bear upon its face the monthly date of the
oldest Of the notes which it represents and be
convertible into like notes at any time within six
months from the first day of the month of its
monthly date aforesaid But every certificate not
reeonverted within six months from the first day
of its monthly date, shall be exchanged for
bond payable at any time not exceeding thirty
years from the expiration of the said six mcnths,
and bearing interest at the rate of six per centum
per annum. Treasury notes which by the opera
ton of this act become fundabe into bends bear
ing yearly interest of four per cent, may be
converted, at the pleasure of the holder, into call
certificates bearing interest at the rate of four
per cent per annum, from their date until recon-
verted or paid; the said certificates being recon-
vertible ut any time by the holder into notes
fuhdsble in four per cent. bonds. and payable aud
receivable as heretofore prescribed, but the said
certificates may be redeemed by the government
after six months from the ratification of treaty
| of peace between the Confederate States and the
United States.
SEC. 4. That I'll bonds or registered stock au-
thorzed 10 bo issaed by this act, shall be payable
not less ban thirty years after date; but shall be
4 Of The government Nnd s6nll IN other respects
| conform to existing laws
SEc.5. The Secretary of the Treasury shall
use any disposeble means in the Treasury whien
can be applied to that purpose without injury TO
the public interest, the purchase of Treasury
notes bearing interest, and issued after the
passage Of this act, until the whole amount of
Treasury notes in circulation shall not exceed one
hundred and seventy five millions of dollars
SEC 6. The Treasury notes hereby allowed to
DO issued, shall be Of any denomination of not
less than five dollars which is now authorized by
law that the Secretary of the Treasury my direct.
! The authority hereby given shall cease at he
expiration Of the first session of Congress- after
the ratification of treaty Of peace or at tho end
of two years, should the war continue so long.
SEC. Z. In addition to the authority herclnbe-
fore given to the Secretary of the Treasury to is.
sue Treasury notes, he shall be allowed to issue
notes Of the denomination of one dollar and of
two dollars, and of fifty cents, to such an amount
as, in addition to the notes of the denomination
Of one dollar, heretofore issued, shall not exceed
the sum of fifteen millions OF dollars; and said
notes shall be payable six months AFTER the rail.
/ toation of treaty Of peace between the Confed-
crate States and tho United States, and receivable
| in payment of all public dues except the export
| duty on cotton, but shall not be fundable.
| SEC. 8. That the Secretary of the Treasury he
authorized to sell bonds bearing six per cent. in
terest per annum. and payable as horeinbefore
| directed, at par for Treasury notes issued since
| the first day of December, eighteen hundred and
! sixty-two, to such of the Confederate States as
may desire to purchase tee same; or he may sell
such bonds when guaranteed by any of the States
of the COnfoderacy, upon such plan as may be
determined by the Secretary of the Treasury, for
Treasury notes on such terms as he may deem ad-
| vsabe, TO the highest bidder and not below mar.
/ Prouided ho,reUer, That the whole amount of
such bonds shall not exceed two hundred millions
of dollars; And prouided, FURTHER, That the Treas
ury notes thus purchased shall not be reissued, if
the effect of such reissue would be to Increase the
whole amount of Treasury notes, bearing no in
terest, which are in circulation to SUN greater
| than one hundred and soventy-ive millions of
dollars. And tho Secretary of tho Treasury is
also authorized, Mt his option, after the first of
july, eighteen hundred and sixty-thrce, to issue
! and SELL at not less than par, as estimated in
| Treasury notes, coupon bonds Of the Confederate
| Statos, bearing six per cent. interest per nnnum
and payable as bereinbefore directed The said
! coupons to BE- paid at the pleasure of tho owner,
either in the currency which interest Is paid on
| other bonds of the Confederate States, else in
cotton certificates which pledge the government
TO nav the same in cotton Of the quality Of New
| Orleans middlings. The said cotton to be paid
at the rate of eight ponce sterling per pound, and
to be delivered at any timo within six months af-
ter the ratification of treaty of peace between
the Confederate States and the United States, at
any or all Of the ports of New Orleans, MsbilO,
Savannah, Charleston or Wilmington, as the
Secretary of tho Treasury may direct; Provided,
hopeuer, That The bonds, hereby authorized, shall
not exceed one hundred millions of dollars, and
shall be applied only to the absorption of Treasu-
ry ndes as prescribed in this act.
SEC o. That II shall be the duty Of the Score.
tary Of Treasury Immediately after the passage
oftbis act, 10 make publication Of copy thereof
in each State, in at least two newspapers publish.
cd In tho State, and TO have said publication con
tinued until tho FIRST day Of August, eighteen
hundred aud sixty three
Approved March %, 1853