Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1863-04-01

future, therefore, Texas can readily export
leather, instead of hides; and tanners, Of
whom there are but few in that country,
will readily multiply.
The Currency Act.
A bill to be entitled HAn Act to provide
for the funding and further Issue Of Trea-
sury Notes." has passed both Houses Of
Congress. We subjoin synopsis Of its
provisions: ,.gs.
{ |. All Treasury notes, not bearing in
terest, issued previous to 1st of December
last, shall be fundable in eight per cent.
bonds or stock until 22d April, 1853 |;
thereafter, until 1st August next, in seven
per cents, and thereafter shall be no ION.
ger fundable at the pleasure of the holder,
but be receivable in payment Of public
dues, except the export duty On cotton, and
payable six months after the ratification Of
a treaty of peace. Notes issued after LIST
December last, and within ten days after
the passage Of this Act, shall be fundable
in seven per cents. until 1st August next;
thereafter shall be fundable only in four
per cent. bonds. All such notes not fun
ded shall be receivable, etc., as aforesaid.
All call certificates outstanding on LIST Jnly
next, shall, after that date, be deemed to
be bonds, bearing six per cent. interest.
q Authorizes the Secretary of the Trea-
sury to issue, monthly, amount of notes,
not exceeding fifty millions Of dollars, fun.
cable within six months from date of issue,
in six pei, cent. bopds; thereafter in four
per cent. bonds.
8. Notes, fuudable in six per cent. bonds
may be converted into call certificates bear
ing five per cent. per annum and, if not
re.converted within six months, shall be
exchanged for six per cent. bond. Notes
fnndable in four per cent. bonds may be
converted, at any time, into call certificates,
bearing four per cent. interest, until re-
converted or paid.
4. AL bonds or stock issued under this
Act to be payable not less than thirty years
after date, but shall be redeemable FIVE
years after date, at pleasureSof the Govern
ment. .o.,1 s,zst ~ s
s.. Authorizes the purchase Of Treasury
notes bearing no interest issued after pas
sage Of this Act, antil whole amount in cir.
culation shall not exceed SITE, ,000, 900. !.
6. The notes shall be Of any denomina-
ton not less than S5, now authorized by
law. 5 5s,s, lss:ss 49,. ...s t,gs ..gfjs
Z. Authorizes an increased issue Of 81
and 2:notes, aud also an issue Of fifty cent.
notes, not fundable. ,I - ~ ) !
s.. Authorizes the sale of six per cent.
bonds at par for Treasury notes issued since
1st December to such Of the Confederate
States as may desire to purchase the same,
or the sale of such bonds when guaranteed
By any State to an amount not exceeding
$500, 900, 900. Also authorizes the sale
at par, of 500, 100000 coupon bonds, six
per cent. the coupons to be paid at the
pleasure Of the owner in currency, or in
cotton certificates, which pledge the Gov.
ernment to pay the. same in cotton, at the
rate of Sd. sterling per pound, to be deliy.
cred at any time within six months after
the ratification of 2 treaty of peace, at New
Orleans, Mobile, Savannah, Charleston or
Wilmington, as the Secretary of the Trea
sury may direct.
8. Provides for the publication ofthe Act.