The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-01-09
o>~~>~~~-~o~~~-~>~~~~>~~~~~
The Bill Reported by the House Com
mittee Of Ways and Means. Y
Nine Hundred Millions i'm
Twenty Year Bonds.
.~-->>~~~>~~>~~>>~~~~~~-
Three Hundred Millions In Three
\ Year Treasury Notes.
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Three Hundred Millions in
Legal Tender Notes.
S-s>,~-,~c.>~-.>~O~~~~~>-.
FIFTY MILLIONS IN FRACTIONAL BILLS.
State Bank Circulation TO BE
Taxed.
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MIR. STEVENS INSTITUTE,
&C., No., DC.
MIR. STEVENS SUBSTITUTE,
10, &e., DC.

and Means Is follows
Be enacted, de-, That the Secretary of the Treasury
bo and he is hereby authorized to borrow from time to
time, tho credit of the United States, sum net ex
ceedng nine hundred million dollars, and issue therefor
coupon registered bonds payable at the pleasure OF
tho after ~ -nty years, and Of such denom
nations less than nifty dollars he may deem expe
dent bearing the rate Of six per csntum
annum payable annually in coin and he may In his
discretion dispose Of such bonds at any time, upon tho
best terms he Obtain not less than par for Lawful
money the United States for any Of the certificates
Of indebtedness that may at time be unpaid or for
any Of the interest bearing Treasury notes here
tofore Issued, or which may be issued under
the provisions Of this act; and all the
bonds and interest bearing Treasury notes issued
under tho provisions Of this act shall be exempt from
taxation BY under State authority provided that there
shall be issued and outstanding Of bonds interest bearing
and United states notes. at any time, under the
provisions this act greater amount altogether than
the sum Of nine hundred millions dollars, except add
tiona equal any Of the and three
tenths bonds called heretofore issued which may DO
redeemed and funded In such bonds as are authorized
under the provisions Of this act.
Sec O. And Ie further enacted, That the Secretary Of
the Treasury is authorized the credit Of the
United States three hundred millions Of dollars Of United
States notes. bearing interest, payable semi annually in
coin at the rate Of cent and half per day each
hundred dollars, being Eve dollars fortyseven and
q half per centum por annum payable to bearer'
and redeemable at the pleasure Of tho government
after three years at the Treasury and Of such
denominations he may deem expedent not lees
than fen dollars each and such notes shall be
for internal duties and all debts and demands due to the
United States except for duties Imports and any holder
Of United states notes dcpositng any sum- whether
before after maturity, less than fifty dollars
some multiple fifty dollars, with the Treasurer Of the
United States either Of the Assistant 1reasurers or
,rA cttorta
the Secretary Of the Treasury for such purpose shall re-
ceve exchange therefor duplicate certificates Of deposit
thereon Of which may DO transmitted to tho Secre
tary Of the Treasury who shall thereon issue to tho
holder equal amount In bonds Of the United states,
coupon registered may be desired bearing interest
the Of six per cent payable sem annually IN coin
and redeemabe a. the pleasure o. the government ser
DO used by the Secretary or tho Treasury
at their par value tho payment Of the awfu creditors
Of the United states who may be willing 70 receive tho
same and shall be received par value payment
for any bonds that may hereafter b negotiated BY the
Secretary OF the Treasury, who shall also allow in any
such negotiations and pay In coin any interest which
may accumulated thereon and the Secretary OF the
require. reissue any amount Of United states interest
bearing notes herein authorized equal to the amonnt
redeemed. There shall he printed on the back Of the
United States interest notes which may be issued
the prov sens Of this the amount Of interest
which will have accumulated At the end OF each six
s.The within note 10 legal tender in payment Of internal
duties and oil debts and demands due the United States
Of United States bearing six per cent payable
In cein semi annually
Sec. g. And be nfher enacted That ttn Secretary OF
the Treasury authorized required by the ex'gencss
OF tho public service for tho payment OF the army and
navy and other creditors OF the government 10 issue on
the credit Of the United States the sum OF three hundred
millions dollars Of United States notes. in such form ne he
may deem expedient, not bearing interest, payable TO
bearer on demand OF such donominntons not less
than one dollar hs may prescribe which notes shall
be lawful money and legal tender in payment OF all
debts public and private within the United states
fnrl utie run nd ~
debt and holder Of said United states Of United
States notes heretofore issued dcpositng any SUN, not
less than fifty dollars with the Treasurer Assistant lea
surcrs doposares Of the United states snail receive
duplicate certificates OF which shall cnte the hold
err to equal amount OF the six per cent bonds,
coupon or registered and any q the said
notes when returned to the Treasury may bo ressned
from time to time as the exgences Of the public service
ssc l. And De II further a,octed Tha, lieu of postage
and stamps Tor fractional currency the secretary
Treasury may issue rac, ona notes of Ike amounts
In ouch no deem expcdlepi amt may provide
for the engraving aud preparation thereof in the rcasu.
ry department building and all such notes issued shall
received in payment OF postage and stamps,
and OF any dues 10 the United states less than eve dol
lars except customs shall be exchansesblc AT the
oGre Of the Treasurer OF the United States any
sistant dcposary for United States notes,
OF AN equivalent amount provided that the hole amount
OF fractional currency Issued including postage and reve
nuc stamps, issued as currency, shall mol exceed hfty
millions Of dollars.
OF the Treasury authorized 10 receive deposits oi coin
ard bullion with the Treasurer any assistant treasurer
IN
dollars aeb and corresponding With the denominations
OF the notes not bearing interest The
tanned in the rrcasury for the payment 81 said receipts on
demand and for no other purpose whatever, and such
receipts representing com held IN the Treasury for pay
mc Of interest the public debt may bc issued In pay
nen oe such interest and such receipts shall be received
at par in pay fncnt for duties on imports as coin,
Sec. g. dra II further enocted. That the United states
notes and the coupon registered bonds authorized b.
this act shall be in such form the Secretary Of the
Treasury may direct, and shall bear the written or
4 yrpvp d NJ
the Register OF the Treasury snd also evidence &c
lawful issue the imprn, OF copy OF the seal OF the
Treasury Departing which imprint shabe made under
the direction Of the secretary, after the said notes or
| bonds shall be received from the engravcrs, and
before they issued; or the said notes and bonds
sna be signed BY tho Treasurer Of the United states
the Treasurer, by such persons may be specially
appointed by the Secretary Of the Treasury FOR that
purpose and shall be sountersned by the Register 81 the
Treasury, for the Register by such persons the
purposc: and ali The provisions Of the act entitled can
act 10 authorize the issue OF Treasury notes y approved
the sd day Of december 1887 far they be
applied 10 hs act, and not inconsistent Herewith
| hereby revive and 70 enacted.
sec. !. And DC further enacted, That ~ banks asso
Citations. corporations, or individuals issuing bills
for circulation reucy shall be subject to- aad pay
duty Of per centum semi annually, from aud sitter
April 1858 upon any circulation OF notes or bills
currcncy issued beyond the hereinafter named.
that say banks associations, corporations ndivi
s having CAPITAL Of not over 500 goo 90 per centnm
thereof 100000 aud not 500 600 30 Ter
um thereof 500 eco and not $500 GOO 20 per
centum thereof $500 COO and $500 600 90
per cenutn thereof $500 co., and over 81
600 80 PER ccntum thereof over Al 900 ooo snd
81 100000 40 per centlm thereof; 81 500 900,
| anil not over ~ 600 900, 30 per Ccutin thereof,
| over 200 600, Is per ccn,rtn thereof and a
list or return snail BE- made ana rendoiod within thirty
days after the limo hscd, as afurcsad H. the Comrs-
soacr OF Internal Revenue, which shall contain tue
aud faithful account a thr amount e duties arcrucd
which should nccrue from time % time aforesaid. dor
ina tue time whom such dGcs remain unaccounted for
and there shall be annexed 20 every sub list a. return
declaration under oath 81 Affirmation 10 be made IN
FORM and a. vha be prescribed by the Commits.
q Internal Revenue Il the Pre- ded some
proper ccr or said bank, association CORPORATION 90
individual rcfroctivey, that the same contains a true
and faithful account or the duties which have &C.
| cruea, OF which should accrua aud are not &C.
| counted Cor. and FOR any default 10 the deiive
I " &c snch list return with SUCH dcciars.
ton annexed, the bank association, corpo, alton,