New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-01-09
rEw.YORK DAILY TRIBUNE
THE FINANCIAL MEASURE.
Report of the Ways and Means Committee.
Special Dispaloh 10 The " Y. Tribune.

| Wuyb duu 3lehits ID ~ 1OlOW6:
Be- it enacted, &C., That the Secrets-y Of the
Treasury be, and he is hereby, authorized 70 borrow
from time TO time on the credit of tho United States
not exceeding 5000, $1,000, aid issue there.
for coupon registered bonds, payable u the pleas.
ure Of the Government after twenty years, sfd Of
such denomination not lees than go, as be MY
deem expedept, bearing interest at tho rate of six
per csntum per annum, payable pemi.annually in
coin; snd he may in bis discretion dispose of such
bonds at any tine upon tho best terms be can ot'
tan not less than par for lawful money of the
United States for any OF the certificates OF ncebt-
edness that may at any time be unpaid, for any
Of the iDterest-besrirg Treasury Notes here
tcfore issued or which may be issned under the
provisions of tbs act aud Ill the bonds and interest
bearing Treasury notes issned under the provisions
of this act shah be exempt from taxesion by or
under State authority; provided that there shall be
issued and outstanding Of bonds, interest bearing
notes ard United States notes, nj any tive, III der
the provisions of this net. greater anon. alto
lionnl amount equal TO any amount OF the 40
bonds 80 called, heretofore issued, which nay 10
redeemed and funded in sncb bonds as are authorized
under the provisions Of this act.
SEC. 3. Aad be a further enacfed, That the Sec-
rotary OF the Treasury il authorized TO issue on the
credit Of tho United States $3OO0O1,0OO Of United
States notes, bearing interest, payable selniannaily
in coin mt the OF one cent and bali per day ON
each 800, being - AZ per cen,um Ier annum pay.
able 10 bearer and redeemable at the pleasure OF
the Government after three yeas ut the Treasury,
and Of such denominations as he may deem expe.
dent not less than $40 each; and such notes shall
be receivable for internal duties and Nil debts and
mands due to tho United States, except for duties
on imports aud any holder Of said United SAFES
notes depositing any sum, whether before or after
maturity, not less than so, or rome multiple Of so,
with the Treasurer of tho United States or either
of the Assistant Tressurefs, or either Of the do
postsries which sball DO designated by the Sec
retary OF the Treasury for euch purpose, shalt 70
ceiye In exchange therefor duplicate certificates Of
deposit for the amoun. Of principal and any accu-
INFLATED interest thereon one OF which may be trans.
mited 10 tho Secretary OF the Treasury, who shall
thereon issne 10 the holder equal amount IN bonds
OF the United States, coupon registered, ns may
be desired bearing interest az tho rate OF siy per
cent payabls semiapnually IN coin, and redeematie
at the pleasure OF the Government after twenty
years and such United States notes may be used by
the Secretary of the Treasury ut their par value In
the payment OF the lawful creditors OF the tnited
States who may be willing 10 receive the same and
thsL be received ut their par value in payment for
any bonds that may hereafter be negotiated ny the
secretary sflhe Treasury WHO shRil al allow IN any
such negotiations and pay in coin any interest which
may have accumulated thereon; asd the Secretsry
Of tho Treasury may as she exgenciss of The public
service may require, reissue GUy amount OF uh'el
States iuereet-boaTng notes herein authorized equal
10 the amount rudec med. There shall DC pIitcu on
the bach Of the United States inter.stbearing notes
I which may be issued under tie provisions OF this
net ia. amount of Interest which will have accuniu-
lated T., the end OF each Elk months from Tie date
thereof and tho following words The within note
IL legal tender ia pay ment OF internal duties, and
III d bts aud demand, dnc the United S'a,es, ex-
ccpt duties on Imports, aud IL eschaugcablc for
bonds OF tie United STATES bearing sx per cent H.
toresi, payable IN ooia <ei-snnualiy.'
l,.f J.. a. g.sfy h. MI flsk r.r
tAry OF the Treasury is sa,hoized II required by the
exgencIe- of the pubic .yice Tor The Pay rnt Of
tie army and navy aud o'bsf creditors of The Gov
oren' to us on ts ss an o. 20, ao n ., slsi
States Notes, in Euct form NJ he my deem cxpe-
dest Lot beanIg Interest, payable 10 bearer on de
mand and Of such denOm nail0ns, not IcsB than oDe
dollar ~ he may proscrb, which notes sh al be law
ful money aud legal tender In payment OF all debts
public and private, within the United States, ex
cett for duties on imports and interest The public
debt; and any holder OF rand United States, or OF
United States notes heretofore i-ued, departing any
rum, not less ,hsn 81, with the Treasurer Asist-
ant reas urer. devOsitarre OF The United States
shall receive duplicate certificates one OF which
shIll eniilc the holder To an eqnsl amount OF the
six per cent boDds, coupon, or registered; and any
of the raid notes when returned to the Treasury
msy be reissued from time to time a. tho exgencies
Of The pnthr service may require.
Sc. T. Ind he IL fvrihcr ,hdcfef, That III lieu of
POSTAGE and revenue samps for fractional currency,
The Secretary Of the Treasury may issue fractional
notes Of like amounts, in such form as he may deem
expelient and NAV provide for the engraving and
/ nrepnr.tiOn thereof IN the Treasury Department
building; and oil such notes issued shall DO received
! in payment OF postage and revenue stamps, and OF
any dues To tho United States less than i've dollars,
ex ept customs and shall he exchungeable nj the
Office al The ireasnrer Of the United States, any
Assistant Treasurer or deposltary for United States
notes OF an equivalent amount provided that The
whole Amount OF fractional currency lsled includ.
Ing postage ana revenue stamps, Issued 40 currency
shall no, exceed fifty millions OF dollars.
SIC. 8. And DC Il frtfsr eHoctcd, That the Sec
rotary Of the Treasury is authorized 10 receive de-
posts of coin and bullion with the Treasurer or any
Assistant Treasurer or designated depository, III
suns not less than twenty dollars each aud cores
nonduQ with the demo niiations 81 the Government
notes not bearing interest. the coin deposited Tor
or shall be retained ia the Treasury for the
PAYMENT oil raid receips on demand and Tor no other
iurpose whatever, aud such receipts representing
coin held in tho Treasury for payment Of Interest on
the public debt may 1e irsucd IN payment OF such in
ter, st. and such receipt sbali DO received III par in
payment fJr dutic. on imports In com.
SIC. q. nut BE- II fWtter eHncted, That the
United States notes, and the conpon or Registered
bonds authorized by this act, shall be IN such form
as the Secretary Of the Treasury may direct, aud
shall bear the written engraved sgnatur. OF the
Treasurer OF the United States anu the iogiAier Of
The Treasury, and also as evidence OF lawful Issue,
the imprint Of u copy Oi the real al the lreasnry
DEPARTMENT, which imprint shall BIO made under the
direction of tue Secretary, after the said notes or
bonds shall be received fo'n the ongrayers and d.
fore they are Issued; or tho raid notes aud bonds
shall 10 signed by the treasurer OF the United
States or Tor the Treasurer by such persons may
be specially appointed b. the Secretary OF ITO Treas
ury for that purpose, and snail DO cOunieTssgnci ~
the r. sJer tho Treasury, or Tor te Register oy
.uch psfsons Nh the Secretary OF tho Ireh1y may
spccinly appoint for that purpose; and III the pro-
visions of The act entitled An net TO authorize tho
issne of Treasury notes" eprroved on The &d day