True Democrat., 1863-05-06
AN ACT 10 provide for the funding and further Issue
 Treasury Notes

AN ACT to provide the funding and further issue ot Treasury Notes.
 SroT1ov r T1q Caaqress of tc Con r7ercte SreS Ae .iaa d0 oaatt treaanry nts no eirlnG Interest lou4i pr.vo t. tho day Of beceiAber eighteen hnn dced tn1 axrTt~ &ran he 1unilbie in oEli per cent boas stock ct:iI the lWensh'coad Ay oi Al r1I el21- teen hundred nn sixty ihrte that from titF d@ ntii 'he first dv If Ausust, Fi&h'c9n hNn'e 'no Yihfee 'ey small b., funded m seven per bonds otoc aud after M first day rf August. ttey shall no longer e Incahlo at he tine holder but snai be racV;t io 1n pay net of rabc dues except the export dn.r c5ton and aYab x rtoe- aor tht ratification ot atctat of peace, as specified on thcir All lrensiy not be9ing nrerest issued alter ne first day oi December oigteen hund1ed and .x;VWu, aud within ten days after t pas sa!e of 1h act sEaI be uncahe ill per bonds or s4ck ,,9t day "f Alnsf and +pr tle s4G traf ty ot Au&ust; sbtlt be unGaf" only i bouls ba,i m ,area at tN4 rtf of fur per aanurl and E4ylb atav ing tAirty tnm the date ti,eTel aui all fucl, ts nct iu H;t ta receivable n 1ilYueut | a pnhc hnes, Xcep thr esprt d1y on col ton ana slaI payable months attac the ratification Of a treaty of peace be the Confederate government and the Un itei states HI call certificates bearing eight per cent. inle. sla!! with the accrued ihryot be tuldaie on or heoe tte fst day q 'Y tlShftrn hnndLtd and -tXty-rc nto i0n4 Of thA Nuntrtorffe States bearing ineret at tAe rate {" riRnt PCT out pf l enc :aya- hat any time nor exceeding thirty wears acr their date: Ict%ed r fhr crned Intrrest aforesaid may, at the option Of the hoider be paid 1nstead oi rog 1une All call certificates os every descriptions. cu3tndig tle first day of ;uE entte-n hundred and siEtyrce. shalt after t, dare doe:ne oe bonds bearing annual interest of six per able & date lirt! wears from the sad first dty ofJuy, eighteen hundred anu
 SEo ? m lieu of inc power hertt given ly law to the ~ecre.ry f the Treasury treasury 9tts he shall he nthorl-d i-sue monthly. ne. byarn 10 interest, exceeding fifty millions of dollars bicl shall be receivable ayIneiit a ppbic duee xceIt te export duty cotron and payabe within , fars after the ratification of treaty of peace bet aee1l the Confederate ani the United States, a! fnlab!e at tie pleasure 0f the holder during twelve lnuna from
 tie r9 day of the month of their issue in bonds Of the Confederate States payable at time o exceeding thirty years alters after de and bearing rates of interest fol- lows: If nnded within twelve months from the rr day of month of their issue the bonds shall bear six per cent. interest per funded after that period they shall be lndae into bonds bearing four cent interest per an These notes shall bear their face the month and year of their issue, and if not funded shall be paid the time specified on their face without interest
 g. After the passage of this act, the authority here tofre given to issue call certificates shall but the undabe into six cent bonds be converted at pleasure of the holder into call certificates bearing m the of five per per from the date theriss That every such certificate shall bear upon its monthly date of the oldest Of the which 1t represents and be convertible into like notes at any time within months from the first day of the month of its monthly date aforesaid. But every certificate vered within six months from the first day of it's monthly dae shall be exchanged for bond payable at any time not c&ceeolh~ t4rY years rom 'he eNll'uo O. ipe Slu SIX months and barng interest at the rate of six per centum per Treasury notes which by the operation of this act become undae Into bonds heaTlhg yearly interest o1 per may be converted. the pleasure of the hoder call certificates bearing the of four per cent per aInn from until reconVerted lai rhe said certificates being recoverable at time by the holer into funab- in tour per cent. bonds aud and receivable heretofore prescribed but the said certificates be redeemed by the government after months the ratification of treaty of peace between the Confederate States and the United States
 SEC That all bonds registered stock authorized to ba iSned by this act shall be payable less than thirty years after dae but shall be redeemable five after date, at the pleasure the government; and shall in other | spects conform existing laws.
 Sgc } The Secretary of the Treasury shall any dis possible in the treasury which be applied to that purpose without injury the public interest to the pur chase otsnry note bearing no interest and issued after the passage o this until the whole amount of treasury notes circulation shall exceed hundred and enty-ive millions 0f dollars.
 SEC 6 Il treasury notes hereby allowed to be ssued shall be of denomination of not ess than hve dollars which is authorized by law that the Secretary ot the Treasury direct. The authority hereby given shai the expiration of the first session of Congress alter
 the ratification of treaty of peace at the end of two years, should the continue so long
 In addition to the authority herenhefore given to the Secretary Treasury treasury notes he shall be allowed to of the denomination of dol ar and If two dollars and fifty cents, such addition to the notes of the denomination o dollar. heretofore issued shall not exceed the sum o
 fifteen of dollars and said shall be payable six months after the ratification of treaty ot peace between the Confederate the United States and receivable in payment of all public dues except the export duty on cotton, ,'but shall not be fundable.
 SEC S. That the Secretary of Treasury be authorized to bearing six per cent interest per and payable herenbere directed at par for treasury notes issued since the first day of December eighteen hundred and sxtytwo of the Con federate States as may desire to purchase the sae; or he may sell such oonds when guaranteed by any of the States o the Conederacy upon plan be determined by the Secretary 0 the Treasury treasury notes snch terms he may deem avisab to the highest bidder and below par: Pro rided hoever That whole of such bonds shall not exceed two hundred millions of dollars: And prOrlded
 t That the treasury purchased shall not be essued if the effect of such reissue would be to increase the whole of treasury notes bearing no interest which circuaton to greater than one hundred seventyve millione of dollars And the Secretary o the Treasury authorized at his opton after the first of July eighteen hundred and Xtthree to issue and se at not less par estimated in treasury notes coupon bonds of the Confederate States bearing six per cent inter- est per annum and payable herenbefoe directed The said coupons paid the pleasure of heowner eithern the currency which interest paid on other bonds o the Confederate Satesor else in cotton certificates which pledges the government pay the in cotton of the quality o New Orleans mddngs The said cotton to be paid at the erht sterling p0und ana to De ueVeTeu at any within six months after the ratification or treaty of peace between the Confederate States and the United States any all of the ports of New Oreans Mobile Savannah Charleston Wilmington as the secre- tary of the Treasury may drec Pro0tded hoWur That the bond hereby authorized shall not exceed one hundred millions dollars, and shall be applied only to the aosop tion of treasury notes prescribed in this act
 SEC g. That shall be the duty of the Secretary of the Treasury immediately after the passage of this act to make publication of copy thereof in each State in at least two published in the State and to have said pub cation continued until the day August eighteen hun dred and sixty three.
 | APPROVED March 23, 1863.
 | May G. 1865 3m
 TOTICE-I have from hundred to thousand dollars " to bet that can beat any in the army camped near Little Rock, running foot race, sixty yards.