Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1863-02-27
The New Treasury Note Bill.

WASHINGTON, Feb. 26.-The committee of
conference have compromised all the disa-
greeing amendments to the bill to provide
ways and means for the support of the gov
eminent, with the exception of that relating
to the bank duty, which is still pending be-
tween the two houses.
1t is now settled that the secretary of the
treasury is authorized to borrow from time to
time on the credit of the United States, a sum
not exceeding 800 million dollars for the cur
rent fiscal year, and 600 million dollars for
the next fiscal year, and to issue therefor cou-
pom or registered bonds, payable at the pleas
ure of the government after such period as
may be fixed by the secretary, not less than
ten nor more than forty years from date, in
coin, and OF such denominations, not less than
$50 as he may deem expedient, bearing in
terest at a rate not exceeding six per cent
payable on bonds not exceeding 800 annual
ly, and on all other bonds, semi-annually, in
coin.
He may in his discretion. dispose of such
bonds at any time, upon such terms as he
may deem most advisable for lawful money
of the United States, or for any of the certifi.
Gates Of Indebtedness or deposit that may at
any time be unpaid, or for any of the treasury
notes heretofore issued or which may be is
sued under the provisions of this act; and all
bonds, or treasury notes, or United States
notes issued under the provisions of this act,
shall be exempt from taxation by or under
state or municipal authority; provided there
shall be outstanding of bonds, and treasury
notes at any time issued under provisions of
this act, no greater amount altogether than
the sum of nine hundred million dollars.
The secretary Of the treasury is authorized
to issue on the credit of the United States
S4OO,0OO,OOO In treasury notes, payable at the
pleasure Of the United States, OF 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 ex-
ceedlng six per cent, payable at the periods
expressed on the face of said treasury notes,
and the interest on said treasury notes and on
certificates Of Indebtedness and deposit there
after issued shall be paid in lawful money;
the treasury notes thus issued to be of such
denomination as the secretary may direct, not
less than ten dollars, and may be disposed of
on the best terms that can be obtained, or may
be paid to any creditor of the United States
willing to receive the same at par. These
treasury notes may be made legal tender to
the same extent as the United States notes for
their face value, excluding interest, or they
may be made eXchangeable, under the regula-
tons prescribed by the secretary of the treas
ury, by the holder thereof, at the treasury in
Washington, or at the Office of any assistant
treasurer or depository designated for that
purpose, for United States notes equal in
amount to the treasury notes offered for ex-
change, together with the interest accrued
and due thereon at the date of interest pay
ment next preceding such exchange; and, in
lieu of any amount of said treasury notes
thus exchanged and redeemed, or paid at ma
thrifty. the secretary NAV isSuA oouoI