Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1863-12-18
FRIDAY MORNING, DECEMBER Is, ,lss
AIR. IYoNS, BILL.
BY rYLE,,. s. zALLEGRE.

The Represe asatiye, from the Richmond Dis
trics hos introduced into the House of RIP
ressnsatives The following bill:
A BILL to be-erititled an act to prevent the
fnrthcr issue. of treasury notes, and to fund
those now in circulation.
Sc ton /. Tmc Congress- Of tho Confederate
States of America do enact, That it shall not
be laHfal.k0r the Secretary of the Treasury to
maseiand issue aSiy, treasury notes after the
first d ~ of January next, but he may reissue
notes heretofore made, as hereinafter specI.
fed. ~, ;,
Section q Be further enacted, That 1t shall
hs the duty of the Secretary of the Treasury
tn cause 10 be executed - millions Of dollars OF
the bonds Of the Confederate States at America,
nayab,e twenty years after date, and bearing
,ntero.t 3. the rate of seven per cent. pee an
mum, PAYABLE semi-annually; and that he
cauae the Same TO be sold, from time to time,
privately, or by public auction, as he may
deem best, for the purpose Of raising money
tn deFr.g Tho ax.-a.,se--cc->horaor urn9snf:.e
S.c;;T 8. Be isfurt6er enacted, That un'
I'll The frat day of May next, it shall be law
ful for NIL holders Of Confederate notes to fund
the Same in the bonds Of the Confederate
States, bearing such interest as the said not"s
Gro now entitled to bear when funded, paya.
hir sem;-annually, and it shall be the duty OF
tho Sscresare Of the Treasury to issue such
bonds to al person who shall apply tor the
sam. in return for Confederate notes. But
ro bond shall be issued for less than one hum
cred dollars, except to persons who 90
h3a Co ,rdarate teS Ut the value OF one
hundred dollars: Provided, Thet no bond
shall be issued for q less sum than twenty
dollars.
Section i. Be it further enacted, That from
and after the tirst day Of May next, that IL
shall not be lawful fur any person to circulate
or offer TO circulate. eny Confederate notes
except in raymrnt of debt or demand due
+, the Government; and If any person shall
!, r,:u ATE. OR &C empt 70 circulate, such note,
he or she shall he deemed guilty Of a misde.
neanur. and upon conviction thereof, shall
Forfeit the notes hich he or she circulated or
attempted 20 circulate, one half to the IN
former, and the other to the Comic terate
States, and lc subject to fine and impr!son-
neil, at the dScre ion of the jury.
oec:; IN 5. BE- it further enacted, That the
Sc .re,ary # tie Treasury may reissue tTea'
sury notes. whi.n have been heretofore ls' ued
until the first day Of May, and not thereafter
unless uuth r d By law hereafter enacted to
do 80.
The bill Of Mr. Lyons will certainly retire
the currency. Tut .s it does not provide tor
the future support and maintenance OF the
Cove nment, it cannot be considered more
than mea ure for relief from Redundancy
4 NIL the financial schemes yet advanced, we
have seen no reference 10 two we'll known ez-
pedients Of 6aance, long used in great favor,
ss agencies Of Government loans. We allude
to annu ties and T"atines.
The people of the Confederstes States
have never had any prsctical examples
pf annnities or tontiues among them-6ut
for hundreds of years these agencies OF
G yernmfnt finance have been in success
full operation among theI~ealthiest people o:
the world, aud have been attended with the
erea test good, both to the Gara-nr,H~'@A'A
D aple. We see no good reason why congress
O .nnot introduce in its schemes of relief those
Of annuities and tontines.:
IT, along with the principle of compulsory
funding, the right TO purchase an ennuity or
to establish tontine, was provided by Coz
gress, We believe that much of the Contede-
rate m ney now in the country would find
investment in annual annuities for the life of
the owner, or for himself and surviving famdly.