The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1863-04-24
AN ACT
AN ACT
To Provide for the Funding and Fur
Their Issue of Treasury Notes.

notes not bearing interest issued previous TO the
first day of December, eighteen hundred and six
~ two, shall be fundsble 10 eight per cent. bonds
or stock until the tweaty second day of April.
eighteen hundred and sixty three; that from thnt
date until the first day Of August, eighteen hun
dred and sixty-thrce, they shall be funded Ia
seven per cent. bonds or stock and after the said
hr.t day of August, they shall NO longer be fund
able ut the pleasure Of the holder, but shall DO
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 6Ist day of De-
cember, eighteen hundred and sixty two, and
within ten days after the passage of this act shall
be fundable In seven ser cent. bonds or stock
until the first day of August next; ard after the
SAID hrst day OF August, shall be fundable only in
bonds bearing interest ut the rate of four per emit
per annum, and payable at any time not exceed
ing thirty years from the date thereof; and all
such notes not fundA shall be receivable in pay
ment OF all public dues, except the EXPORT duty
on cotton, and shall be payable six months after
the ratification OF treaty Of peace between tho
Confederate government and the United StatcsA
All call certificates bearing eight per cent. inter
est shall, with the accrued interest, be fundAble
on or before the hrst day OF July, eighteen hun-
dred and sixty-thrce, into bonds of the Confed-
crate States, bearing interest at the rate of eight
per cent. per annum, and payable at any time not
exceeding thirty years after heirdate ProuSeled
That the accrued interest aforesaid may, at the
option Of the holder, be paid instead Of being
funded. All call certificates of every descrjDtorI
outstanding the first day of JUL, eighteen hun,
| drcd and sixty three, shall, after that date be
deemed'to he bonds bearing an annual interest of
| six per cent, and payable at date not exceeding
thirty years from the said first day of uly eiyh-
| Teen hundred and sixty three. pes '@ts
SEC. 2. In Leu of the power heretofore elyeu
by law TO the Secretary or the Treas 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
| lie dues, except tho export duty cotton, aud
payable within two years after the ratification of
| q treaty of peace between the Confederate States
aid the United States, and fundable al the pleas
ure Of the holder, during twelve months from the
first day Of the month Of their issue, in bends of
the Confederate States, payable a. any time not
| exceeding thirty years after date, and bearing
rates of interest follows: If 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 fundable 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. 3. After the passage of this act, the an
thorty heretofore given to issue call certificates
shall cease but the notes fundable into six per
| CENT bonus may DO converted at the pleasure Ji
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 it:
monthly date aforesaid But every certificate no
rcconverted within six months from the first da,
Of its monthly date, shall be exchanged for
bond payable at any time not exceeding thirty
years from the expiration Of the said six months
and bearing interest at the rate of six per centun
per annum. Treasury notes, which by the opera
ton Of this act become fundable into bends bear
ing yearly interest of four per cent, may b.
converted, at the pleasure Of the holder into cal
certificates bearing interest Of the rate of fou
per cent. per annum, from their date until recon
2 verted paid; the said certificates being recon
/ vertible at any time by the holder into note
fundable in four per cent. bonds. and payable an
receivable Us heretofore prescribed, but the sal
certificates may be redeemed by the governiner
after elk months from the ratification of u treat
of peace between the Confederate States and tn
2 United States.
2 SEC H. That all bonds or registered stock ar
\ thoriled to BIO issued by this act, shall be payab
not loss ban thirty years after date; but shall b
redeemable five years after date at the plcasur
Of the government, and shall in other respect
{ 1
. SEc. 5. The Secretary of the Treasury -sha
use any disposable means in the Treasury ,.whc
can be applied to that purpose without injury
the public interest, to the purchase of Treasur
notes bearing no interest, and issned after Il
s passage of this act until the whole amount ,
!, Treasury notes in circulation shall not exceed on
= hundred and seventy five millions of collars
SEC. o. The Treasury notes hereby allowed
| be issued shall he of any denomination of M
= less than five dollars which is now authorized
y law, that the Secretary Of the Treasury my direc
The authority hereby given shall cease at IL
mir tinn e tlp trst L-ip Of
the ratification Of treaty of peace, or at the en-
of two years, should the wsr cOrtitiue so long
SEC. z. In addition to the authority hereiub
r fore g'ven to the Secretary Of the Treasury to
IL 50, Treasury notes, he shall he allowed to isst
n notes of the denomination Of one COLLAR and
4 two dollars, and Of fifty cents to such an amour
I. as in addition to the notes OF the denominatiC
/ of one dollar, heretofore issued, shall not exec,
: the sum Of fifteen millions of dollars; and "a
10 notes shall be payable six months after the rat
" tication of treaty Of peace between the Confe
g crate Ststes and the United States, and recevab
in payment of all public dues except the expo
,e duty on cotton, but shall not be fundable.
Sec. s. That the Secretary of tho Treasury
g authorized to sell bonds bearing six per cent i
~ tcrest per annum. and payable as hereinhefo
- directed, ut par for Treasury mates issued sin
w tho first day of December, eighteen haHdred al
at sixty. two, to such of the Confederate States
m may desire to purchase the same; or he may 81
f. such bonds, when guaranteed by any Of the Stat
10 of the Confoderacy, upon such plan may
- determined by the Secretary of the Treasury, I
Treasury notes ON such terms as he may deem a
yisable, to the highest bidder and not below pa
Presided, ho,cecey, That the whole amounn
II such bonds shall not exceed two hundred milliu
"a of dollars: And rorided ftIfksr, That the Tres
81 ury notes thus purchased shall not be rcissued
the effect of such reissue would be to increase
ii whole amount of Treasury notes, bearing no
81 terest, which are in circulation, to sum grea
% than one hundred and seventy.fve millions
4 dollars. And the Secretary of the Treasury
also authorized, at his option, after the first
July, eighteen hundred and sxty-three, to Isl
and sell, at not less than par, rs estimated
al Treasury notes, coupon bonds of the Confeder
"' States, bearing six per cent. interest per anu
rs and payable as hereinbcfore directed The s
pie coupons to be paid at the pleasure OF the own
NV either in the currency in which interest Is paid
- other bonds of the Confederate States, or else
cotton certificates which pledge the governm
to pay the same IN cotton of tho quality of
Orleans middings. The said, cotton 10. be q
iu- at the rate of eight pence sterling per pound.
or to be delivered at any time within six months
OF ter the ratification of treaty of peace betw
or the Confederate States and the United States
o's, any or all of the ports of New Orleans; Msh
Savannah Charleston or Wilmington, as
. Secretary of tho Treasury. may direct; Pro.id
hotaeper, That the bonds, hereby authorized, sl
not exceed one hundred millions of dollars,
shall be applied only to the absorption of Trea
Ia, nv notes us prescribed in this act,
w., SEC. 0. That il shall be the duty of the Soc
~ tary of Treasury Immediately after the pass,
~ of this act, to make publication Of copy Their
- in each State, in at leas, two newspapers, publi
~ cd in the State, and to have said publication C
mr. tinued until the first day of August, eight