Washington telegraph. [volume] (Washington, Ark.) 1839-1871, 1863-06-17
AN ACT
To ProUide for the Funding and Further Issue
Of Treasury Notes.

TO PToUide for the Funding and Further Issue
Of Treasury Notes.
SECTION /. The Congress Of the Confederate
States Of America do enact That all treasury
notes not bearing interest issued previous to
the first day of December, eighteen hundred
and sixty two, shall be fundable in eight per
cent. bonds or stock. until the twenty-second
day of April. eighteen hundred and sixty
three: that from that date until the first dav
OF August, eighteen hundred and sixt--three.
they shall be funded in seven per cent bonds
or stock, and after the said first day of August.
they shall no longer be fundalle Mt the pleas
ure OF the holder. but shall W. receivable Ill
payment of public 'lues, except the export duty
on cotton, and payable six months after the
ratification of n treaty Of peace rs specified on
their face All treasury notes not bearing
interest. issued after the first dag of December.
eighteen hundred and sixty two. and within
ten days after tie passage of this act. shall bc
fundabe H. seven per cent. bonds or stock
until the first day cf August next; and after
the said first day 81 August, shall be fundabe
only In bonds hearing interest nj the rate OF
four per cent. per annum. and payable Mt any
time not exceeding thirty years from the date
thereof; ana all such notes not funded shall
be receivable in payment 81 All public dues,
except the export duty on cotton. and shall be
payable six months after the ratification Of II
treaty of peace between the Confederate gov
ernmcnt and the United States All can Ger
tifcates bearing eight per cent interest. shall.
with the accrued interest, be funiablc IN or
before the first day of July. eighteen hundred
and sixty-threc. into bonds uf tie Confederate
States, bearing interest NJ the rate of eight
per cent. per annnm. and payable ~ any time
not exceeding thirty years after their date:
Eyor,dfd, That the accrued interest aforesaid
Y. AT ne prttfa of Al h..
stead OF being funded. All call certificates
OF every description, outstanding the first day
OF July. eighteen hundred and sixtv-three
shall, after that date. he deemed to be bonds
hearing an annual interest of Fix per cent =.
and payable AT date not exceeding thirty
years flom the said first day Of July, eighteen
hundred and si=ty-thrcr-
SEC. ,. IN lien nd the power heretofore -ivcn
! by law to thr Secretary NJ thr Treasury. ~
issue treasury notes. hc shall hc authorized to
issue monthly. an nmnrnt of such notes bear
ing no Interest. NOT. exceeding ftty millions ut
dollar, which .hall ~ receivable i'll prvrpent
OF all public dues, except the export duty wv
cotton. and payable within twn years after tho
ratification NJ treaty of peace between thc
I Confederate States and the United States aud
| iundabie 1T the pleasure III lie holder. DUR z
! twelve months from the first day OF the month
/ OF their issue il bonds OF the Confederate
States. payable AZ any time not exceeding.
thirty years after date. anil bearing rates o.
interest as follows: II funded within twelve
months from the first day II the month q. their
issue the bonds 'hail bear six per cent. inter-
/ est per annum: IL funded after that periof
/ they shall be fuuGable into bonds besr.n- four
/ per cent. interest per annum. These notes
| shall bear upon their face the month AMI year
Of 'hcir issue. nri FL uot funded slnil he riaid
1 at TIE time ,rcciiud w Ticlr raUs without
interest.
SGc. 3. After The passage of Till nct. thc
authority heretofore given Nh issue cal. crrti-
Gates shall cease. hUr thr notes fnniahe .ntn
/ SIX per cent. bonds Ihay Nv converted III the
pleasure ~ the holder, into cali certificates.
bearing interest at the rate cf i~e per cent.
per aunum, from tie date ol their issue. That
every such certificate shall bear upon it, ficc
the monthly date Of tl- Oldest Of the notes
which it represents. and he convertible into
Ike note NJ any time within six months from
the hIst dIy of the month Of it, monthly dat,
aforesaid. Bu; every certificate not recon-
verified vIthin SIX months from the first dav
Of its M uthiy date. shall be exchanged for q
. bond payable nj any time not exceeding thirty
years FROM The expiration ii the ~a'i Fix
months, and bearing interest nj the rate If six
per cent. Ter aunun Treasury notes. which
by the operation Ut this ac; become funinhle
per cent. may hr converted. Mt thc pleasure
of the holder. Tito cal. certificates bearing
interest ut the rat" NJ fur par cent per ar-
num- from their date until rrcnnvrrtcd M paid:
the said e. -tihcar-~ being rccnnverthir at anv
! time by ic holder into notes flndnhle in four
per cent. ond-. and payable and receivable
( as herctui re Iresc ihed. lint M, saii crrff-
Gates may hc redeemed hv the government
after six months from the ratification of a
treaty OF peace between tile Confederate States
and lJe United States.
Sic. 4. That al bonds or registered sock
authorized to he issued by this act. shall hs
/ payable rot less than thirty years afier date
but SHALL be redeenabc five years after 'atr.
at the pleasure Of IT,. government. and shall in
! other respects conform 70 existing laws.
SIC. 3. The Secretary If the Treasury shall
uss ANY dspo~ahc means in che treasury.
/ which can w applied e that purpose without
injury TO the public interest. ~ the purchas"
of treasury notes bearing 10 interest. amt
issued after the passage 81 this nct- until thy
| whole amount If treasury notes ia circulation
! shall not exceed one hundred and seventy five
millions of dollars.
! SIC. L. The treasury notes hereby allowed
| to be issued, shall be of any denomination Of
! not less than FIVE dollars which is now author
| lied Ivy law, that the Secretary Of the Treasury
| haN direct Inc anluofllD nefenN given Snall
cease ut the expiration of the first session OF
| Congress. after the ratification Of treaty OF
! peace, or Mt the end Of two years, should the
war continue so long.
! SEC. {. In addition to the authority herein
before given to the Secretary Of the Treasury
to issue treasury notes, be shall be allowed to
Issue notes of the denomination Of one dollar.
and of two dollars and Of fifty cents. to such
amount, as. in addition TO the notes Of the
denomination Of ono dollar. heretofore issued,
shall not exceed the sum IF fifteen millions oi
dollars; and saip notes shall be payable six
months after the ratification Of = treaty Of peace
between the Confederate States and the United
States. and receivable in payment Of all public
dues except the export duty on cotton, but
shall not be fundable.
SEC. 8. That the Secretary of the Treasury
be authorized to sell bonds bearing six per
cent. interest per annum, and payable as here
intefore directed. at par for treasury notes
issued since the first day of December, eighteen
hundred and sixty two, to such of the Confed
crate States as may desire to purchase the
| same; or he may sell such bonds, when guar
anteed by any of the States of the Confederacy
upon such plan rs may be determined by the
Secretary of the Treasury, for treasury notes
on such terms as he mag deem advisable. to
the highest bidder and not below par: Pro-