The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1863-05-01

To Provide for the Funding and Fur
ther Issue Of Treasury Notes.

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trst day Of bacemhsr, eighteen hundred and six
u ty-two shall Be fundshle h eis hi per cent bonds
or Stock until the tWesty sgclul day Of APRIL
eighteen hundred and sixty three. thar from that
date until TIE first dsy ct August, G. -Ltceu hun
drei aud sky three hey slail be funded 10
seven per cent bonds or stock. and Alter the said
first day of August, they shall no longer be fund
. able at the pleasure OF The holder, but shall be
receivable ia payment Of public dues, except the
export duly 900 cotton, ana payable six months
after the ratification % treaty % peace, as spo-
cGed on their face. All Treasury notes not bear
4 ing interest, Issued amer the fret day Of De-
comber, eighteen hundred and sixty two, and
within ten days after The passage OF this act shall
be iundabie % seven 3er cent bonds or sock
until the FIRST day Of August next ard after the
said first lay OF August, shall be fundable only in
bond. bearing interest AT the rate Of four per ccut
per anuum, aud payable at any time not exceed.
ing thirty years from the date thereof; and all
such notes not funded shall be receivable in pay
mcut Of all public dues, exeep, the export duly
ou cotton. aud shall De payable six months after
The ratification Of q treaty Of peace between the
Confederate government and the United States
an call certificates bearing eight per cent inter
est shall, with the accrued interest, be fundabC
on OF before the first day Of July eighteen hun.
bred and sixty-threc, into bonds Of the Confcd-
crate States, bearing interest at the rate Of eight
exceeding dirty years after heir date; ProudeG,
That the accrued interest Aforesaid may, at the
option Of the holder, be paid instead OF being
funded. All call certificates OF every description,
outstanding the first day Of Jul eighteen huu-
bred aud siXiy-three, shall, after that date, he
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 July, eigh
teen hundred anu sixty .klTee.
n lion of II M Vrpf hprpfnf,re ,rtVnu
by law 10 the Secretary of the Treasury to issue
Treasury notes. he shall be authorized TO issue
monthly, an amount Of such notes, bearing no
inter. t.u1t' exceeding fifty millions of dollars
which shall be receivable in payment of all pub
i. dues, except thc export duty on cotton, and
payable within two wears after the ratification Of
q treaty of peace between the Confederate States
a. the United States, and fundable at the pleas
ure Of the hp or, during twelve months from the
hrst day OF the month of their issue, in bends of
tbc Confederate States, payable at any time not
exceeding thirty years after date, and bearing
rato- of interest as follows If funded within
twelve months.from the first day of the month Of
their issue. the bonds shall bear six per cent in
erest per auuun ii funded after that period they
shall be tuudable INTO bonds bearing four per cent
interest per auuuu. These notes shall hear upon |
their aye the month and year Of their issue, and
if mot funded, shall he paid at the time specified |
on their face without interest.
SEC. g. Amer the passage Of this set the au
thorily heretofore given to issue call certificates /
shall cease, but the notes fundable into six per |
cont bonds may be converted at the pleasure If |
the holder into call certificates. bearing interest
al The rate of lys 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 |
u.anths from the first day of the month of its
monthly date aforesaid But every certificate not
recOnverted within six months from the first day
Of its monthly date, shall be exchanged for
bond payable at any time not eXceeeing thirty
years from the expiration Of the said six mcnths,
and bearing interest at the rate of six per centum
per annum. Treasury notes, which by the opera
ton of this act become fundable into bends bear.
ing a yearly interest of four per cent. may be
converted at the pleasure of the holder, into call
certificates bearing interest at the rate of four
per cent. per annum, from their date until recon
verted or paid the said certificates being recon-
veriible at any time by the holder into notes
fundable in four per cent. bonds and payable and
receivable as heretofore prescribed, but the said
certificates may be redeemed by the government
after six months from the ratification of treaty
of peace between the Confederate States and the
United States.
SEc. L. That an bonds or registered stock au-
thorized to be issued by this act, shall be payable
not Tess ;han thirty years after date; but SHAH be
rcdeemablc Eve years after date, at the pleasure .
a. liz ssEernnrnt. and shall in other respects /
conform to existing laws.
SEC. 3. The Secretary of the Treasury shall |
use any disposabe means in the Treasury, which |
can be applied to that purpose without injury to |
the public interest, TO the purchase of Treasury
notes bearing no interest, and issued after the |
passage of this act, until the whole amount Of .
Treasury notes in circulation shall not exceed one
hundred and seyenty-fve millions Of dollars
SEC 8. The Treasury notes hereby allowed to |
be issued, shall he Of any denomination Of not !
less than five dollars which is now authorized by |
law, that the Secretary of the Treasury my direct
The authority hereby given shall cease at the .
expiration of the first session of Congress, after
the ratification of a treaty Of peace, or at the end
of two years, should the war continue 40 long.
SEC. 7. In addition to the authority horelube
fore given to the Secretary of the Treasury to is
sue Treasury notes, he shall be allowed to issue
notes of the denomination of one dollar, and of
two dollars and of fifty cents, to such an amount,
as in addition to the notes Of the denomination .
of one dollar, heretofore issued shall not exceed |
the sum of fifteen millions OF dollars and said |
notes shall be payable six months after the rad
fcation of a treaty of peace between the COnled-
crate States and the United States, and receivable ,
in payment Of all public dues except the export
duty on cotton, but shall not be fuudablo,
SEC. s. That the Secretary Of the Treasury be
authorized to sell bonds bearing six per cent in
terest per annum, aud payable as horeiubeforc .
directed, at par for Treasury notes issued since
the first day of December, eighteen hundred and .
sixty-two, to such of the Confederate States as
may desire to purchase the same; or he may sell |
sucn bonds, when guaranteed by any Of the States
of the Coniederacy, upon such plan as may be
determined by the Secretary Of the Treasury, for
Treasury notes on such terms as he may deem ad.
visobc, TO the highest bidder and not below par
Proridsd horcrcr, That the whole amount Of
such bonds shall not exceed two hundred millions
of dollars: ind proridcd further, That the Treas
ury notes thus purchased shall not be reissued if
the effect OF such reissue would be to increase the
whole amount of Treasury notes, bearing no in
lerost which are in circulation, to sum greater
tbnu one hundred and sevonty-iive millions off
dollars. And the Secretary Of the Treasury Is
also authorized, Mt his option, after the first Of
July. eighteen hundred and siXty-thrcc, to issue
and sell nj not less than par, ms estimated in
Treasury notes, coupon bonds Of the Confederate
states, bearing six per cent interest per 0nnum
and PAYABLE az hereinhcl0re directed. The said
coupons 30 be paid at the pleasure Of the owner
either in lo currency in which interest Is paid Cd
other bonds of he Confederate States. or else in
cotton certificates which pledge the government
to pay the same in cotton Of the quality Of New
Or'rIus uIddiI0"s. Tho SAID cotton 10 be paid
Mt the rate Of eight pence sterling per pound and
to he delivered ut luy time within six months of-
ter The ratification oil treaty Of peace between
the Confederate State. and the United States, Mt
any or all of The ports Of New Orleans, Mobile,
savannah, Charleston or Wilmington, as tho
Secrcnr Of tho Treasury may direct; Proridcd
6orlrcr, That the bonds hereby authorized, shall
not exceed one hundred millions Of dollars, and
shall be applied only to the absorption Of Troasu
nv notc prescribed in this act
SIC. g. That It shall he the duty Of the Sccrc
tary of Treasury Immediately after the passage
Of this act to make publication Of u copy thereof
In each State, n ~ least two newspapers publish
cd in the State, and to have said publication con
dnucd Until the fret day Of August, eighteen
1. 49,. ,t.,.1 ,,.t sf,ty tltrpp