The Lansing state Republican. [volume] (Lansing, Mich.) 1855-1874, 1863-06-03

Az ACT to provide Ways aad Nesns for the sapport q
tPUzIIc-So. 52l

; z
authorized u borrow from tilne - e circuit
q the jnlted states sum exceeding three hundrsc
Millions OF dO-as Tor Tie current lscsi year, ald
DundTed nu.loIs for to- nscal ear u ss4e
therefor coupons registered bones DayGble - lhe
pleasure o. Lls Government after such period a nav
10 1xed by the secretary not less tnaa ten
than lOrty yearstT date coin 0l such demon
nations Lot less thai n.ty cellars lie may deem sxus
dent, bearing Interest exceeding 81 Der
eeItan PER @nnum, payable bonus exceedilg one
Hundred collars z1nuay, and on al other BOMBS semi
annually IN com, ard Le may, ia Ls GiscTetCn cspse
o. such oonds a. any ,ime upon ssch b. may
dem most acvistb4e Tor lawful money Of tLe U-iea
StHos or for any o. the certificates OF ndebed-ess Or
deposit that EAy az any time be unpaid or f8r anv of
TIE treasury notes heretofore issued which may Be
ISSUED under the provisions OF this act Anc all the
oOnos AMI treasury notes United states notes ss4ec
ga1er the prOvIsUDs u tbs act shall be exempt from
TAXATION By Or under stale municipal authority Pro
1dsa InA nere shall DC outstanding o boLcs treasury
rOtes and United states notes a. any time issued IN
der tie provisions of Ibis act greater amount
setner than than Ihs sam Of line hundred millions Of
dollars.
SEC 2. And Be Il furtksr enacted That the Secretary
OF the Treasurer De, an be hereby, authorized 10
ssu, the credI The Uaitea states four h1udred
Millions Of dollars Ia treasury notes payabis al tie
pleasure OF the United states times
not exceeding thre years from date may be found
most Oenelc-l 70 e public inter sts and bearing IL
erest - rate not exceeding az per centum per
payable al perOs expressed The face Of said treasury
notes, and the lntsreet tine said treasury
issued, shall be paid IN lawful money Ihe r.
aoses thus issued shall Or 0i sae denomination Ihe
Secretary direct not less than ten dollars may
be disposed " size best terms that be obt2Re1
may be paid u any crecitcr Of the United Will
Ing 70 receive the par And said treasury notes
LAY De made egai tender 10 the same extent a. Ill
TED states notes to their face value excluding interest
or they may be made e1changeSble under regulations
prescribed Dy The Secretary u the Treasury by the
holder thereof the treasury 10 the city Of Washing
ton At the once Of any depOs
tay designated FOR that purposs FOR United States
offered for exchange together with the interest accrued
equal in amount TO the treasury thereon
a. the cate Of interest payment next preceding such
change And in lieu u any amount Of said treasury
tnus Snehangea or redsemed or paid At maturity the
Secretary may issue equal amount u other treasury
notes and the treasury notes exchanged redec med
or paid shall be cancelled and destroyed the secretary
changes OF Uuts Of States Tor treasury whe
required ss above provided tho Secretary shall hsvs DOW
to issue United states TO ths hun
dred and fifty millions Of dollars, which may be used
necessary for such exchanges bat part Of the United
states notes authorized By this section shall be issued
for or applied 10 any other purposes than said exchaa
Kes whenever any amount shall have been issued
and applied, the shall be replaced prse-
tcabl5 from tho sales Of treasury notes for United states
notes
Sec g. and Be Il further enacted That the Secretary
Of the Treasury bs and ne hereby authorized
payment u the army and navy and other creditors OF
thu governnsnt, 10 the credit Of the United
states the Of Ons hundred and fifty millions dollars
OF United states notes, including the auo1t Of such
notes heretofore Authorized by the Joint Teso.4tlel
proved January seventeen eighteen hundred ana sixty
three, 10 such form as he may deem exp-aent, not
bearing interest, payable 10 bearer, sGd such de-
nominations, net loss tnan one dollar as hs may pre-
scribe. which issued shall be 4WfT money ard
legs tender Ia payment Of all debts i.lc and pri-
vat within the United states, except 10 dates
ports aad interest on the public debit and any Of the
said notes when returned 10 the treasury may be
issued from time 10 time the exgencies Of the public
service may require. And in lieu OF any OF said
notes any other United states notes return
| ed 70 the treasury, and cancelled or destroyed,
there may be issued equal amounts 0f Unitea states
notes such authorized by this And much
Of the act 10 authorize the issue Of United states
and for other purposes approved February twenty five
eighteen hundred and Sky two and Of the
thOrze additional United States notes and
FOR other purposes approved July seven eighteen hun
dred and sixty two, restricts the negotiation OF
bonds 20 market value is hereby repealed. And the
holders Of United states notes issued under BY vr
tue Of said acts shall present the same for tho purpose
OF exchanging the for bonds, therein provided
on before the first Gay Of July eighteen hundred
and thereafter the right so to exchange the
same shall cease and determine.
Sec. T. And Be Il further enacted That in lieu Of post
age and revenue stamps for fractional currency and Of
fractional notes commonly called postage currency IS
sued 70 be issued the Secretary of the Treasury
ssle fractional notes o. like amounts IN such form
he may deem expedient, and may provide for tho
craving PREPARATION E1d issue thereof IN the treasury
department building And all such notes issued shall
be exchangeaos by the assistant reasurers and cess
mated d-postares for Uaitsd states notes net
less than thrse dollars and shall DC receivable for post
| age and revenue stamps and also in payment OF any
dues the United States less than five dollars except
duties on imports, and shall be redeemed presen.a
ton AZ the treasury Of the United Safes in such sums
and under such regulations as the Secretary OF the
amount Of fractional currency issued including postage
and reveaue stamps issued currency, shall not
ceec hlty millions OF dollars
Sec. s. And b. u further enacted That the Secretary
Of the Treasury hereby authorized 10 receive deposits
OF gold and bullion with the treasurer any asss-
tsn treasurer of the United states not less
than twenty dollars and issue certificates therefor IL
denominations Of not less than twenty dollars each,
responding with the denominations OF the United states
notes The coin and bullion deposited for represent
ng the certificates OF deposit shall be retained ia the
treasury Tor the payment Of the same on demand And
certificates representing in the treasury may De Is
sued in payment OF interest on the public debt, which
esrsdcas together with those ssusd Tor cola and bu
ou deposited shall not at any tino exceed twenty Per
centnu beyond the amount Of coin and bullion m the
treasury and the certificates for coin o. bullion IN tne
treasury shall be received AZ par IN payment FOR duties
on imports
sec 6 And Be il Surtser enacted That the coupon
registered bonds treasury notes snd United StAt
authorized BY this act shall be IL such form as th
Secretary Of the Treasury may direct, and shall have
printed upon them slch statements showing the smoun
Of accrued secrung interest the character Of th'
notes, and the penalties or punishment for altering o
countsrfsting them as the secretary Of tie Treasury
may prescribe and shall bear the written or engraved
gustures Of the of the United States and h
register the treasury and also evidence Of awf1
issue the imprint G., copy OF the seal OF the Treas
D. psrtment which imprint shall be made, under n
direction Of the Secretary after the said notes or bond
shall be received from the engravers and before the,
ssued, she said notes and bonus shall Be signe
by the treasurer o. the Jnt-d States FOR the treas
BY such persons as may be specially appointed D.
the SecrStary Of the Treasury for that purpose an
shall be countersgnec By the register Of the treasury
or FOR register BY such persons the Secretary
the Treasury may specially appoint for that purpos
And all the provisions Of the act entitled "a An set
suthorzs the issue o. treasury notes. approved u
twenty third day Of December, eighteen hundred An
hyseven, far they be applied 20 this act an
Inconsistent herewith, hereby revived and re
(, / enacted.
Sec Z Ard be II further enactsi That all banks, =.
atiors corporations OF nlvlduals issuing notes
bills To- circulation currency, shall be subject 70
N pay duty ~ one per centum each haf year frcI
ana after ApT 5rsi. eighteen hundred and siXTythre
upon the average smount u circulation Of notes o. b
- ss currency issued beyond the amount hereinafte
named that IS - say banks associations corporation
OF individuals, having capital 0f not one huncre
thousand sosrs, ninety per centum thereo( over OF
doss, eighty per cenium thereof. two hundre
NJ basAnd ad not over three hundred thousand dollar
T. seventy per centuU thereof three hundred tho
sand and c0 i've hundred thousand dollars II
le per centum thereof FIVE hundred thousand an
= not over million Of dollars nifty per centum thereo
= over one million and not over million and = half
dollars forty per centum thereof million -
In haN- aaf not over two Millions o. dollars, thirty p
"A centum thereof two millions of dollars tvsat
I'VE PEI ceailm Thereof II the OF banks with orA
ches, the cuty herein provided for shall be impose
: upon the circulation OF the OF bills Of such bral
chss Severay and not upon the aggregate circulate
Of ALL and tbs anolGt OF capital Of each branch shs
be considered 10 be the amount allotted 10 used
such branch, and al such banks associations cOrpOr
lions and intividuals shall be ssbject 70 and paw
duty Of one haf Of per centum each half year fro
and after April drst eighteen hundred and sixty thre
UPON the average aEognt Of notes bills not 0iherra
hereis tAxei and outstanding currency during q
six months next preceding the return hereinafter prov
ded for and the rates Of tax duty imposed the circ
ton Of associations which may be organized under
act 70 " provide national currency. secured hy
pledge Of United States stocks and provide for q