Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1863-06-25
no. ss-vM XII & 1HITTRVIH TENN EHURsDH JUNE sJ 1868.

IAN Act to provide for the FundiI
and further issue Of Treasnl
q Notes
: SEC /. The Congress Of the Coz
: federate States of America do enac
, That.all treasury notes not bearin
interest issued previous 10 the frs
day of December, eighteen hundre
and sixty-two, shall be fundable i
eight per cent. bonds or stock. unit
the tgenty-second day Of April, eight
cen hundred aud sixty-tbree; tha
| from that date until the first day OF
| August. eighteen hundred and sixty
three, they shall be funded in sever
per cent. bonds or stock, and af.eI
the said first day o.. August. they
shaIl no longer be fundabIe at The
pleasure of the holder, but shall be
receivable in payment of public dues,
except the export duty on Cotton,
and pay able six months after The raii-
fication of a treaty Of peace as spec
flied on their face. All treasury
notes not bearing interest issued after
the first day Of December, eighteen
hundred aud sixty.txo, within ten
days after the passage Of this act,
shall be fundable in seven per cent.
bonds or stock until the first day of
August next; and .af er the said
first day of August, shall be ,fundable
only 10 bonds bearing interest at the
rate Of four per cent. per amman, aud
payable at any time not exceeding
thirty years from the date thereof;
and all such notes not funded shall
be receivable in payment Of all dues
except the export duty on cotton, and
shall be payable six months after
u ratification of a treaty Of peace
between the Confederate government
and the United States. All cali GER
Iifcates bearing eight per cent TO-
terest, shall, with the accrued interest,
be lundable on or before the frs t
lay of July, eighteen hundred AID
six'y-three, into bonds of the Confsd-
crate States, bearing interest at the |
rate oi eight per cent. per apnum,
ard payasle at any time not exceed
ng thirty yesls after their date /;
Prorided, That the accrued interest
lsoresaid may, at the option Of the
holder, be paid instead Of being fund
ed. All certificates Of every des-
'ription, out Standing the first day
# July, eighteen hundred and sixty +
hree. shall, after that date, be deemed
o be bonds bearing an annual inter.
st of six per cent and payable at a
late not exceeding thirty years fron
he said first day Of July, eighteen
.unared and sixty-ibree.
Sec 2. In lieu Of the power here
olore given by law to the Secretary
4 the Treasury, 10 issue Treasury
loies, lie shall be authorized 70 issue
nopthly, an amount of such notes,
'earing no interest, not exceeding
ifty millions Of dollars, which shall
'e receivable in payment of all pub
ic dues, except the export duty on
otton, anG payable within two years
fter the ratification Of a treaty of
eace between the Confederate States
nd the United States. and fandable 4
! the pleasure Of the holder, during
selve months from the first day Of
be month of their issue, in bonds of
be Confederate States, payable at I,
Ny time not exceeding thirty years
fterdatr and bearing rates of in
crest as follows IL funded within
welve months from the first day of
he month Of their issue, the bonds
ball bear six per cent, interest per
mum, If fandeds after that period
hey shall be funGable into bonds i
caring four per cent. interest per
nnum. These notes shall bear up
n their lace the. month and year Of d
heir issue, ADD sif net funded shall /
e paid at The time specified on their ,
ace without interest. & n
SEC 8. After the passage Of this
ct, he ulhori:y heretofore given to I
sue call certificates shall cease, but
be notes fundable into six pei cepi.i
onds may be converted .at-the pleas {
re of the holder, into call certificates, | |
caring interest al The rate Of eve q
er cent. per annum, from the date I
their issue. That every, such cer-I
Hcate shall bear upon it's face The I
lonthly date OF the Oldest of the I
otes which it represents, d-be con- :
ertabie into like notessat a-y time !