The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1863-03-19
Nv ASuINnrAN. III

the Treasury is authorized to borrow
from time to time on the credit of the
United States sum not exceeding
$500, OOO, 900 for the current fiscal year
5000, 100000 for the next fiscal year,
and to issue therefor coupons or regis.
tered bonds, payable at the pleasure Of
the Government after such periods as
may be fixed by the Secretary, not more
than forty years from date, in coin aud
in such denominations, not less than
fifty dollars, as be may deem cxpedient,
bearing interest at the rate rot exceed
ing six per cent. per annum, payable in
bonds not exceeding one hundred dol
lars, annually; aud on all other bonds
semi.annually, in coin and that he may
at his discretion dispose of such bonds at
any time, upon such terms as he may
deem most advisable, for lawful money
OF tho United States, or for any Of the
certificates of Indebtedness or deposit
that may at any time be unpaid, or any
Treasury notes heretofore issued or NAV
be issued under bonds, or Treasury notes
heretofore issued or may be issued under
bonds, or Treasury notes or United
stn'e, NOTE, issuen under the provisions
of this act; for the payment next pre-
cedlns such exchange, and in lieu of any
said Treasury notes thus exchanged OF
redeemed, or paid at maturity, the Sc =
retary may issue an equal amount of 9th =
er Treasury notes and the Treasury
notes so exchanged, redeemed or paid,
shall be Cancelled and destroyed as the
Secretary may direct, in order to secure
certain and prompt exchanges of U S.
notes for Treasury notes when required
as above, provided, the Secretary shall
have power to issue L s. notes to the
amount of Sl5O,00O, 900, which NAV be
used If necessary for such exchan ges -
But no part of the Z. S. notes author.
lied by this section shall be is ued for or
applied to any other purposes than said
exchanges, and whenever any amount
shall have been so issued and applied.
the same shall be repIaced as soon as
practicable, from the sales of the Treas.
ury notes for the q S. notes.
The Secretary is authorized and re-
qured by the exigencics of the public
service, for the payment of the army aud
navy and other creditors of the govern.
ment, to issue on the credit Of the GOV
ernment $50 900, 900 of United States
notes, including the amount of such
notes as hereafter authorized by Joint
resolution, passed July last not bearing
interest, and of denominations not less
than 81. The seventh section of the
original bill is stricken out. TIE sec
tion modifying the ind pendent treasury
law is omitted, and shall be exempt from
taxation, by or under State or municipal
authority, provided, there shall be an
outstanding of bonds, Treasury notes and
United States notes at any time issued
under the provisions of this act. no
greater amount, altogether, than the sum
of 5000, 100000.
The Secretary of the Treasury is au-
thorlzed 10 issue, on the credit of the
United States, four hundred million dol
lars, in Treasury notes, payable at the
pleasure of the U. s. or at such time or
times, not exceeding three years from
date, as may be found most beneficial to
the public interest, and bearing interest
at a rate not exceeding six per cent per
annum. payable at the periods expressed
on the face of said Treasury notes and on
certificates Of Indebtedness and deposit
thereafter issued shall be paid in lawful
The treasury notes thus issued to be
of such denominations as the Secretary
may direct; not less than ten dollars,
and may be disposed of at the best terms
that can be obtained, or may be paid to
any creditor of the United States wiling
to receive the same at par. These Treas
ury notes may be made legal tender to
the same extent as United States Treas
ury notes, for the face value, excluding
or they may be made exchange
able under the directions prescribed by
the Secretary of the Treasury, by the hol-
der thereof, at the Treasury in Washing
ton. or At the Office of snv Assistant