, 1863-03-03

tanned. or may bc paid to my creditor Of the
United States willing to receive the same at
legal tender to the same extent as United
States notes for their face value, excluding in
tcrest, or they may be made exchangeable,
under regulations prescribed by the Secretary
Of rheTrcasury, by the holder thereof, at the
Treasury in the City Of Washington, or at the
office ;. Of any Assis ant Treasurer or
for United States notes ~ equal pi II
amount to the Treasury notes offered for cx-
change, together with the interest accrued
aud due thereon at the date Of interest pay
mcnt next preceding such exchange; and in
lieu Of any amount Of said Treasury notes
thus exchanged or redeemed, or paid at ma
amount Of other Treasury notes, and the
Treasury notes SO exchanged, redeemed, or
paid shall be cancelled aud destroyed, rs the
Secretary may direct. In order to secure
certain and prompt exchanges Of United
States notes for Treasury notes, when rcquir-
hare power to fasue United States notes to the
amount Of $l50, ,000, 900, which may be used, If
necessary, for such exchange, but no part of
the United States notes authorized by this
section shall be issued for or applied to any
other purpose than said exchanges; and
whenever any amount shall have been so
issued and applied, the same Shall be replaccd
as soon Us practicable from the sale Of Treas
uFy notes for United States notes.
SEC. 5. Ind be it further enacted, That the
Secretary Of the Treasury be, aud he IB here
by authorized, If required BY the e1igencies
Of the public service, for the payment Of the
army and navy, and other creditors OF the
Government, to issue on the credit of the
United States the sum Of $15O, ,0O0, 900 Of
United States notes, including the amount Of
such notes heretofore authorized BIZ the Joint
resolution approved January II, 1865, in such
form as he may deem cxpcdlent, not bearing
interest. payable to bearer, and Of such de-
nominations, not less than one dollar, ns he
may prescribe, which notes SO issued shall be
lawful money and a legal tender in payment
of all debts, public and private, within the
United States, except for duties and imports
and interest on the public debt; and any Of
the said notes. when returned to the Treasu-
as the e2igencies Of the public service
may require. And in lieu Of any Of said
notes, or any other United States notes, re-
turned to the Treasury, and cancelled or de-
ttroyed, there may be Issued equal amounts
Of United States notes, such as are. author
lied by this act And go much of the act to
authorize the issue Of United States notes, and
for other purposes, approved Feb. Is, 1862 and
ofthc act to authorize Ill additional issne Of
United States notes, and for other pur-
poses, approved July II, 1852, as restricts the
negotiation Of bonds to marked yalue, ia
ICi'CNISu. auu Lie 0OiQETS VI CultCQ GtatES
notes, issued under and by virtue Of said acts,
shall present the same for the purpose Of ex.
changing the same for bonds, rs therein pro-
yidcd, on OF before the 1st day Of July, 1868,
and thereafter the right so to cxchange the
same shall cease md determine.
SEC. I. Ind be Il further cHaetel, That in
lieu Of postage md revenue stamps for trac-
4ona1 currency, and Of fractional notes, COM
monty called postage currency. Issued or to
1,a fes s,,ct1 %ho Gnnrnfarr of {he Trina aurr NAV
issue fractional notes Of like amounts In such
form as be may deem expedicnt, and may. pro
vide for the cngraying, preparation and Issue
thereof in the Treasury Department building,
And all such notes issued shall be exchange
able by tlc Assistant Treasurcrs, and dcsig1la
ted depositaries for United States notes
in sums not less than $500, and shall be re-
ceiyab1c for postage and revenue stamps
and also In payment Of any dnes to the
United States less than 500 except duties or
imports, and shall be redeemed on prescnta
tion ut tue Treasury Of the United States ir
such sums and under such regulations as the
Secretary Of the Treasury shall prescribe
Pot'idt1, That the whole amount Of fraction
al currency Issued, including postage and rev
cnue stamps issued as currency, shall not ex
coed $50, ,00,0 600.
SEC. 5. And bit further enacted. That th'
Secretary Of the Treasury is hereby authorized
to receive deposits of gold coin or bulliol
Of the United Statcs, in sums not less thai
SEQ, and to issue certificates therefor in dc
nominations Of not less tlan SO each, CORES
pouding with the denominations Of tn
United States notes. The coin md bulliol
deposited for or representing the certificate
Of deposit eh1ll be retained In the treasur
; for the payment of the same On demand
And certificates representing coin in the treas
ury may be issued IN payment Of interest o.
the public debt, which certificates, togcthc
with those issued for coin and bullion deposit
/! ed, shall not at any time exceed 0pcr centun
/ beyond the amount Of coin and bullion in th
| treasury shall be received at par In paymen
! for duties on imports.
| SEC. 6. And 6tn further enacted, That til
coupon or registered bonds, treasury notes
and United Sta*cs notes, authorized By thi
act, shall bc in such form US the Secretary {
ted upon them such statements, showing th
amount Of faccrucd or accruing interest, tt
character Of the notes, and the penalty {
punishment for altering or counterfeitin
them, as the Secretary Of the Treasury ma
prescribe, and shall bear the written or ez
United States and the Register Of the Ire;
i. sury; md also, as evidence Of lawful issu
the imprint Of n copy OF the seal OF tt
Treasury Department, which imprint ehall
made, under the direction of the Sccretar
after the said notes or bonds shall be r
eved from esca 'he enga'eFsn tne and s,s 1Si17e h
or bonds shall be signed By II
Treasurer Of the United States, or for the
: Treasurer by such persons rs may be specisl
, appointed by the Secretary Of the Treasu
for that purpose, and shall be countcrsign,
By the Register Of the Treasury, or for Il
Register By such persons Is the Secretary,
purpose, and MI the provisions Of the act c
: fitted :" An act to authorize the issue
RI Treasury Notes." approved the sd day
!. December, 1857, go far as they can be appli
to this act, and not inconsistent the1cwit
are hereby revived and rc.cnaeted.
Sec. S. Ind de it further enacted, That :
banks, associations, corporations or indiyi
. uals Issuing notes or bills for circulation
currency, shall be subject to and pay tu
Of per ccntum each half year from and afi
April i, 1868, upon he average amount
circulation Of notes or bills Is currency issu
bcyond the amount hereinafter named-tt
is to say, banks, associations, corporations.
individuals having q capital Of not over $40
e coo, ninety per centum thereof; over $loo,(
and not over *30o. .00o, eighty per cent?
thereof; over e200, 600 and not over $780, o
S seventy per centum thereof; over $500, {
c and not over f500, 900, sixty per centum the
;. per ccntum thereof; over 81 ,oo0, Goo and /
Il over &, 900, forty per centum there,
e over 81, ,500, 600 and not over 5000, ,OoO. TIL
!. per centum thereof; over *o06o, 900, twen
i've per centum thereof In the case Of bar
with branches, the duty herein provided
shall be imposed on the circulation Of
s notes or bills Of such branches scveraliy. a
4 not upon the aggregate circulation Of d
K and tic amount Of capital Of each brar
shall be considered to be the amount n1lo'
n TO or used By such branch: Fnoridsd, II
one-half Of one per ccntum each half year fr
and after April first, eighteen hundred :
sixty.threc, until the first day Of April, (
L Thousand eight hundred aud si1ty. .fiYe, y
the average amount Of notes or bills ontsta
ing as currency during the next six mon
: next preceding the return hereinafter PFo'
= cd for; and on and after said first day Of Al
B. one thousand eight hundred and sixty
n said tax shall be one per ccntum each !
u year thereafter on said average amount. Z
a all banks, associations or corporations,
individuals Issuing or 1cfssulng notes Or
1or circulation as currency. eeafter April f