Wilmington journal., 1863-08-27
mo. ILL.,
AN ACr TO PROVIDE FOR TIE FUNDING AND FUR.
TIER iS3TE OF TREASITRY NOTES


AN ACr TO PROVIDE FOR TIE FUNDING AND FUR
THER ISSUE OF TREASURY NOTES.
Section l. 1he Congress Of the Confederate States Of
america DO enact That all Treasury bearing
terest issued previous to the lest day OF pecemoc cgh
hundred and sixty shall be undabe eight
bonds stock until the twenty secoLd day April
eighteen hundred AID sixty three that from thai
til the first day of August eighteen hundfe and
they shall be funded in per bonds stock,
be tundable at the pleasure of the holder but shall be
cevabe payment of public Dues except the port duty
cotton and payable six months after the ratification OF
eaty Of peace specified their face All Treasury
notes not bearing Interest," issued alter the ls day of De-
days after The passage act Shall be fundable in
per cent. bonds and stock until the first day Au
gust next; and after the said first day of August sh I'll be
uudabe ony IL bonds bearing interest the of four
per cent. per annum, and payable at any time
funded, shall be receivable in payment all dues
cep the export duty cotton, and shall be able six
Confederate Government tho United States. all call
certificates bearing eight cent interest shall with the
July eighteen hundred and s'Xtyhree into bonds the
Confederate State, bearing interest at the rate OF eight
ing thirty years after their date Pr0o,ed, That the
interest aforesaid may at the option of the holder
description oustandngs the first day of July, Gig hteen
huHdred and sNytbree shalt after that date be deemed
payable at date not exceeding thirty from the said
Sec. z In lieu of the heretofore given by law to
Secretary of the Treasury to issue treasury notes. he
notes bearing no interest, not exceeding fifty millions Of
dollars which shall be receivable payment OF all public
ex.ep the export duty on cotton and PAYABLE with
in two Years after the ratification of treaty of peace be-
tween the Confede ate States and the United States and
nndabe the p of te holder during twelve onhs
from the first day month of their Sre in bonds CT
the Confederate states payable at any time not exceeding
thirty years after date and bearing rates Of interest fol-
lows If funded within twelve months the day
month their ssue the bonds shall bear per cent.
interest ner annnm if funded after that poriod thew shall
undabe into bonds bearing four per interest per
These notes shall bear their face the month
aud year OF their ISSUE and not funded shall be paid at
cfia1S ffairf far ICitH tHGJ1t Dta
f ircn to ssne tcnT eerticates shall case hrt tha
undabe per cent bonds may be converted
the pleasure of the holder no call certc bearing
date CT their issue. That such certificate shall bear
upon its face the monthly dat o the oldest of the notes
any time within months day the month
of its monthly date aforesaid But certificate not
monthly date, shall be exchanged for bond payable at
any time not exceeding thirty years from the expiration
of the months bearing interest at the
six per per Treasury which, by the
operations Of this act become tuudable into bonds bear
ing yearly interest of four cent. may be converted at
the pleasure of the bolder call certificates, bearing
interest ct the rate of four cent from tef
date until reconyertod paid the being
recoverable time by the noier into fundA
BILE four pei cent bonds and yable receivable
heretofore prescribed but the sad certificates may be re-
deemed by the Government after six mouths from the ra
fcaton of treaty OF peace between the Confederate
States and the United States.
SEC A. That all bonds registered stock authorized to
be issued by this act shall be payable rot less than thirty
date at the pleasure OF the Government and shall ii other
respects conform to existing laws,
5. The secretary OF the Treasury shall any dis
rosable means in the Treasury which be applied to
that purpose without injury to the public interest to the
purchase OF treasury notes bearing interest and
after the passage of this ac until the whole amount of
treasury in circulation shall exceed hundred
and seventy five million of dollars
SEC g. The treasury notes hereby allowed to be issued
shall be OF any m Of not less than tive dollars
Treasury may direct The authority hereby given shall
the expiration of the first session Of Congress af
the ratification of the treaty peace the end of
| two years, should the war continue so long
Sec z. In addition to the authority hereinbeore given
to TIE Secretary OF the Treasury to treasury notes. he
shall be allowed to issue of the denomination
dollar and of two dollars and of fifty cents, to such
as addition to the of the denomination
dollar issued shall not exceed the OF
six months after the ratification Of treaty of peace be-
tween the Confederate States and United States, and
cevable in payment of all public dues except the export
duty On cotton, but shall not be fundable.
Sec. That the Secretary of the Treaguy author
payable as hereinbefore drected treasury
issued since the fist day of December eighteen hundred
desire purchase the same he may sell such bonds
when by any of the States Of the Conec
the Treasury Treasury such terms as he may
deem advisable to the highest bidder, par
shall exceed two hundred millions dollars And
prooided further That the Treasury notes thus purchased
be to increase tine whole amount of Treasury notes
bearing interest which in circulation to sum
greater than hundred and seventy millions of dol
lars And the Secretary of the Treasury also authorized
at his option after the first of july eighteen hundred
aud sixty three to issue and SELL at not less than
estimated in Treasury notes. coupon bonds of the Cored
States bearing six cent interest
payable directed. The said coupons be
paid the pleasure of the either in the currency
which interest is paid other bonds of the Confederate
States else in certificates which pledge gov
ernment to pay the in cotton of the quality OF New
Orleans mddings The said cotton to be paid the rate
eight pence sterling per pound, and to be delivered
any within six months after the ratification Of treaty
OF the Confederate States aud the Untet
states, any all of the ports of New Orleans, Mobile
Savannah Charleston Wilmington, the Secretary 0
the Treasury may direct Crowded however, That tht
hands Sho n
dollars, and shall be applied only the absorption of
sury notes prescribed in this act.
Sec 9. That it shall be duty of the Treasury imme
datey after the passage of this ac to maize publication
of copy thereof in each State in least newspa
pele published the State and have said publication
continued until the first day of August eighteen hundre
/ and sixty. three.
u Approved March %, 1858. aug7-W4w