New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-01-27
THE FINANCIAL MEASURE.

The FINANCIAL sCcefne passed the House OF
Representatives yesterday without division
The Jay Cooke amendment got only 81 votes.
Nearly every amendment Of the Committee
was approved only that taxing bank deposits
being lost 1t is thought shat the Senate will
concur at once, without h,mpering the act
with additions or changes. The provisions of
the bill, as it passed the House, are as follows:
SECTION |. The Secretary may borrow $500, 000,-
600 for the current year. and $500 900 during
next year. Issuing bonds payable at the pleasure Of
the Government, aftor 20 years from date, in coin,
bearing not six per cent interest, payable semi
annually, in coin and he may ut his discretion, dis
pose of such bonds q. any time, on such terms as
may be advisable, for lawful money. certificates of
Indebtedness of the Government, or Treasury notes
heretofore issued or thss may issued under this act
Issues under this act exempt from taxation by
State authority No more than 5000. coo 900 shall
be issued.
SEC. 9. The Secretary may issue 100000 900 Of
Treasury notes, interest not over six per cent pay
able semi-annually IN coin; principal payable any
time after three years from date the notes to be of
any denomination not less than sl0 receivable for
These notes are convertible at any time into Legal
Tender notes, but additional issue of Legal Ten.
der notes is authorized. These Treasury notes may
be- paid out at par to the creditors willing to receive
them So and shall be received at par for bonds here
after negotiated tho accrued interest to DO paid in
COIN and the Secretary may from time to time re-
issue such notes equal to the amounts redeemed the
nature and rate Of interest OF the notes to be printed
OH their backs.
SIC g. The Seeretary may issue, il required by
the exyencies of the public service $500 900 900 Of
notes not bearing interest, Of denominations not less
than 81, which shall be lawful money and legal
on imports and interest on the public debt. Such
notes may be resSued from time to time, as the public
service may require.
SIC. 4. In place Of postage currency and revenue
stamps, the Secretary may issue fractional notes Of
like amounts, exchsngeabls for postage and revenue
stamps receivable for dues under g. except for du.
ties, aud exchangeable or redeemable at any time
this issue not to exceed 81, 900, 900.
SIC. ). The Secretary may receive deposits Of
gold coin and bullion in OF not less than $2O
giving coin certificates therefor; the coin to remain
y,
mcnt of interest on the public debt, and duties on
IMPORTS this issue not to exceed 20 per cent beyond
the coin in the Treasury.
SIC. provides for the engraving. printing, and
signing OF the issues under this act.
SIC. 2. After March l, coupons on all bonds and
notes heretofore issued, or issued under this act,
shall ut any time within thirty days before due,
and after due, be received coin for customs, SC.
SEC. 8. From April l, Banks and Bankers issuing
bills for circulation shall pay per cent each half
year on their average circulation, as follows: On
capital of over 100000 and not over 5000 900, 80
per centhereo over 5000 900 and not over 5000 OOO
20 per cent thereof; over 100000 and not over
$5OOOOO GO per cent thereof over $500 900 and not
100000 50 per cent thereof; over 81 900 900
and not over 81 100000 40 per cent thereof; over
81 100000 and not over g., 100000 80 per cent
thereof over $2,oOO,OOO, 25 per cent thereof This
tax is imposed Oh branch banks separately. Frac.
uapal currency issued for circulation togsy . duty