Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1863-02-05
Financial and Commercial.

The following Bill was introduced in the Conieder-
ate Senate on Friday by Mr.. HUNTER, of Va and re-
ferred to the Committee on Finance
The Congress ofMe Confederate States do enact, That
the Treasury notes not tearif crest and bearing
erest issued previous to the lst day of December 1862
if not funded before The lst day Of july 1863 shall
be afterwards iundable the pleasure of the holder
All call certificates which recoverable into Treas
ury notes. undabe in bonds bearing eight per cent.
erest, shall longer be recOnvertibe into such notes
after the ed OF April 1862 but shall afterwards be
recoverable into notes fuadabe into bonds bearing
per cent interest," untll the LIST July, 1863 but
after that dy II It previously recobverted and unded
they shall be deemed to be bonds bearing six per cent
interest, and payable at the end of - years.
2 That in lieu of all other pc gers issue Treasu
ry notes bearing interest," which have been hereto
fore granted TO the Secretary of the Treasury, shall be
authorized to Isl monthly, amount not exceeding
fifty millions OF dolrs of such notes payable six months
after the raca ION OF treaty OF peace between the
Confederate States and the United States Each noie
shall specify the month of its issue, and declare that it
shall be undabie III bonds bearI six per cent inter
et and payable at the end OF six years, Tor the period
OF twelve months from the fist day OF the month of its
ISSUE AID also, that it shall ba receivable 10 payment
of public dues, except the export duty cotton for
The like period But afe the lapse of the said twelve
MONTHS the said shall no longer be tuDdabe or re-
ciVable in payment Of public dus, but it shall be paid
at the time specified its face without interest. Any
holder of notes issued under the authority of this Act
shall be allowed to fund them in call certificates bearing
six per cent interest, and to be recoverable at bis
pleasure in the manner hereinafter provided The said
certificates shall specify the date OF the notes funded
and shall be recoverable within the period during
which these notes were tundabe But after that perl
cd t~sha no longer be recoverable but deemed to be
bond bearing per cent. interest per annum and
payable at the end of fears.
The Secretary of he Treasury shall use any disposal
BILE means in the reas ry which be applied that
purpose without rur 10 the puolic interest and is
sued since LIST January 1868, until the whole
Of such issues shall not exceed hundred and fifty
millions.
The Treasury notes hereby allowed to be issued shall
be of any denomination Of not less than five dollars
which is authorized by law as the Secretary of the
Treasury may direct. The authority hereby given shall
at the expiration Of the session of Congress- which
shall follow the conclusion OF treaty of peace, at
the end of two years. should the war continue so long
provided however, that the Secretary of the Treasury
in addition to the authority hereby given to issue Treas
ury notes. shall be allowed to issue so many not bear
ing interest as may be necessary to meet all the requi
sltons outstanding the 21st dayof January, 1868 :;
but the notes thus issued shall only be ndab after the
3lst day OF December next and after that date shall
not be receivable in payment of public dues but shall
be redeemed according to the tenor thereof.
8. That in addition to the authority herenbefore
given to the Secretary of the Treasury to issue Treasu
ry notes. he shall be allowed to issue notes of the de-
nomination OF one dollar and of fifty cents, to such an
amount as in addition to the notes of the denomination
OF dollar heretofore issued shall not exceed the sum
Of fifteen millions of dollars.
That the Secretary of the Treasury be author
lied to sell bonds bearing six per cent interest per an
num- and payable at the end of twenty years. par
treasury notes. issued since the LIST January 1863
such of the Confederate States as may desire to pur
chase the same or he may sell such bonds when guar
anteed by the States of the Confederacy for Treasury
notes as Aforesaid provided that the whole amount
such bonds shall not exceed three hundred and ty-nlne
millions OF dollars and provided further, that the
Treasury notes thus purchased shall not be ressued if
the effect of such ressoe would be to increase the whole
amount of Treasury bearing no interest which
in circulation to sum greater than one hundred ard
fifty millions of dollars.
The Secretary of the Treasury is also hereby autnor
zed if he shall deem fit to do so to exchange the
ceeds of any sales of raw produce or of produce cert
fcates that be may make for Treasury notes issued
since the 1st January, 1853, ct the market value.