The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1863-12-16

made 10 the month Of January. the bonds
issued for the same shalt be exempt from
the tax 81 Ave per cent. for the present
year, hereinafter mentioned; if made in
the month Of February, they shall be ex-
einpt from one half Of the tax; and ii made
in the month Of March, they shall be ex-
empt from soe-fourth of the tax. Officers,
soldiers. and seamen, in service. shall be
entitled to, exemption from the whole tax
for sums paid at any time before LIST April.
1864.
S. A tax Of five per cent. shall be i'm.
posed on all property and credits. (oiher'
than the new issue Of notes hereinafter
msnnoned,) which may be held ON the
LIST April next. 10 be paid on the | 1, July.
nc-hai In Treasury notes. and one half
10 coin or 10 the coupons sf the bonds IS.
sued for this loan.
g. In case the coupons should advance
in the markets 10 premium exceeding 25
per cent. any tar payer shall be permitted
10 pay his lax IN treasury mates Of tue new
issue, with 25 per cent. added.
z. Within six months new and ,mprov-
ed issue shall be made of two hundred
milliens 81 Treasury notes in substitution
Cor that amount Of old Issues. and AL the
old issue shall be cancelled. aud the faith
Of thr government is pledged not to increase
said issues.
8. Notice shall be given TO the holders
Of Treasury notes talhcr than The said Two
hundred millions. requiring them 10 pre-
sent their notes at the Treasury, or at same
Of it, Repositories. on or before thu 1t day
Of April next. and receive payment thereof
in bonds IL the said consolidated loan. or
IN default theceof. the notes not 50 brought
ia shall erase 70 be current Or receivable
1T the T'essary foi aues; but shall remain
evidences al debt. pa,abe BY the chniede.
rate STATES according 10 their tenor.
g In The States beyond the Ni,sIssip-
pi. n, time mentioned in the last clause
.hall be- extended until tbs FIRST day 81
july.
10. SIX months more shall I've allowed
al hol'rrs of Treasury notes 10 Come ~
and rsg,sler and verify their mates a. de-
msnds against the Treasury. AMI exchange
the same fur a certificate oi. debt; or. il
they prefer 10 keep the nnle., thu name q
the holder shall be endorsed thereon; after
which Tie said mates shall b. negotiable
only BIZ special assignment; and I'll nal.s
not 80 registered ~,ihip rsr. ssid time shall
be barren frnm any further claim on the
government.
m. Any holder II = bond 81 the Cariej.
-rsts State. my eonsrrt he sane into our
II the henI under tbs 'nsn The eight per-
cent. bands ., par. and the elhsrs = pro.
pnri nDste ratr and the Loan .hsll b. ~.
tended "a a. 10 absorb all boBds ~h.eh Gay
" offered in exchange.
~. the interest coupon, Of this lssn
snail be hrid equivalent 20 specie IN al ia.
are draiifg. - tie g0,erunrn,. and shali
DC accepted IL pasmrIi u tny AZ hrreai.
- made payable 10 coin.
-. fh. i.iit. Of The government, !
pledged u mskr adequate pro,i.tnu lnr ihr
pasmeat - the princlpAl and integes, d
iiir said luan by the sonl1uanec OF thr Tax
mentioned III article 5. until srnsu, shall
b tRk.n. alter which Ire prc,isisn .h4ll
Re made by direct taxes or By daties %
uporis and exports.
~ TIE notes II DENOMINATIONS under
Ave dollars shall act bv affected by ths
provisions VI the seheme.