The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1864-03-01
OFFICIAL


OFFICIAL.
ApJT AND tSsr'R 0sNws Ats Oystcp.
Richmond, Va, Feb %, 1854.
ENEkAL Orders, No al.-Thc following Ac,
" ct Congress is published rer the 1 Information
mo liSl
Az ACT to Reduce the Currency and to Au,nor,ze
a new Issue Of Notes and Bonds.
The CeePress Of As Confederate States oS Aw,,fca
above the denomination Of Ave dolars no, besrins
Interest, shall be allowed until the first day oJ
April, eighteen hundred and sixty four east of the
Mississippi river. and until the first day Of July,
eighteen hundred and stxty four, west Of the Mis-.
sissppi river, to fund the same, and until the pc
RODS and at the places stated the holders Of all
such TreaeuFy notes shall be allowed 10 fund the
same IN registered bonds, payable twenty years af
their date, bearing interest AZ the rate Of four
per cent. per anuun, payable on the first day Of
January and July OF each year
See. 2. The Secretary Of the Treasury IL hereby
au,ho lied TO issne the bonds required for the fund
ns provided for In the preceding section, md uut
the bonds cnn be prepared he may issue certificates
70 answer the purpose. Such bonds and certificates
shall be receivable without interest In payment OF
sli Government dues payable In the year eighteen
duties.
SEC 3 That all Treasury notes Of the dcnour
nation Of one hundred dollars not bearing inter
est W. ich shall not be presented for funding under
the provisions of the first section of this act shall
from aud af,cr the LIST day of April 1854, east of
the Mississippi Tiver and the ist day of July 1864
able In the payment Of public dues, and said notes,
II not presented at that time, SHALL in addition
10 the tax OF thirty three and onethird cents i'm
posed In the fourth section Of this act, be subject 10
a tar of ten per cent pv month until so presented,
which taxcs shall stiach 70 said notes wherever
circulated, and shall be deducted from the face OF
said notes whenever presented for payment or for
funding, and said notes shall not be exchangeabIe
af nnfa lad fnvf
rhis act. ANa
Sec. 4. That on all SID Treasury notes not fund
ed or used In paymentSf taxes at the dates ans
places preecYibed In tho first section of this act
there shall be levied at hid dates and places a tax
OF thirty three and one third cents for every dollar
promised on the face Of said notes. said tax shall
attach 10 said notes wherever circulated, and shall
be collected by deducting the same at the Tfeasu
~, lis repositories. and by the tar collectors and by
gil Government officers rec Giving the same, when
everprcsented for payment, or for funding, or in
payment of Government dues, or for POSTAGE or In
exchange for new notes as hereinafter provided;
and said Treasury notes shall be fundable ia bonds
as provided In the FIRST section Of this act until the
first day Of January, eighteen hu1dred and sixty
FIVE, at the Of sixty and two third cents on
the dollar. And il shall be the duty of the Secre-
tary OF the Treasury at any time between the first
Of April, east, and the first Of July, eighteen hum
dred and sixty four, west of the Mississippi river,
and the first Of January, eighteen hundred and
sky five, to substitute and exchange new trca-
sury notes for the same, at the rate OF and
two-hrd cents on the dollar; protided, that notes
o the denomination of one hundred dollars shall
not be entitled to the privilege of said exchange:
pr0ridsi further that the right TO fund any OF said
treasury notes after first day of January, eighteen
hundred and sixty five, is hereby taken away; and.
provided further, tbst upon all such treasury notes
which may remain outstanding on the first day of
January, eighteen hundred and sixty FIVE, and
which may not be exchanged for new treasury
notes herein provided, tax OF one hundred Der
cent. is hereby imposed
Gac That Htar he f,cs J,u of o,tl ,o-
authority heretofore given TO the Secretary OF the
Treasury TO issue Treasury notes shall be- and Is
hereby, revoked: Provided, the Secretary OF the
Treasury may, after that time, issue new Treasury
noies, in such forms as he may prescribe, payable
Two years after the ratification of treaty OF De ace
with the United States, said new issues to be re-
cevable in payment of all public dues except ex-
port and import duties, and to be issued in ex- |
change for Old notes at the rate Of two dollars of
The for three dollars Of the old issues whether
said old notes be surrendered for exchange by the
under the provisions of this act and the holders
of the notes of the notes, xcept those of
the denomination OF one hundred dollars, after |
they reduced 10 sixty six and two thirds cents
on the dollar, by the tax aforesaid may convert |
the same into call certificates, bearing interest at
the rate of four per cent. per anEum, and payable
years after the ratification Of treaty of peace
with the United States, unless sooner converted |
into new notes.
See. 6. That 10 pay the expenses Of the Govern
ment not otherwise provided for the Secretary of |
the Treasury is hereby authorized to issue six |
per cent bonds, to amount net exceeding fve
hundred millions of dollars, the primo ipa and in
lerest whereof shall be free from taxation, and |
for the payment of the interest thereon the entire
nett receipts of any export duty hereafter laid
The value OF all c0tton tobacco, and naval stores,
which shall be exported from the Confederate
States, and he nett proceeds of the Import duties
now laid, or so much thereof as may be necessary
TO pay annually the interes are hereby specially
pledged proridet, that the duties now laid upon
imports and hereby pledged shall hereafter be paid
In specie, or In sterling exchange, or in the coupons
OF said bonds.
hereby authorized from time TO time, as the wants
of the treasury may require II, to sell or hypothe-
cate fortreasuary notes said bonds any part there
of, upon the best terms he can, go as to meet ap-
propriatioDs by Congress, end at the same time
reduce Rnd restrict the amount of the circulation
In treasury notes within reasonable and safe limits.
Sec s. The bonds authorized by the sixth sec
ton Of this act may be either registered or upon
bonds, as the parties taking them may g ect, and
they may be exchanged for each other under such
regulations as the Secretary OF the Treasury may
prescribe. They shall be for one hundred dollars,
or some multiple of one hundred dollars, and shall,
together with the coupons thereto attached, be In
such form and of such Authorization as the Secre
lary OF the Treasury may prescribe. The Interest
shai! be payable half yearly, On the first day of
January and July In each year--tle principal shall
be payable not less than thirty yea srOm their date
c. Q. All cail certificates shall be fundable,
aid shall be taxed In all respects, as IL provided
iUf Tue lfedsufy nOttBs iBto WHICH tney are con-
veribie. II not converted before the time fixed for
taxing the Treasury notes, such certificates shall,
from that time bear Interest upon only sixty six
and two third cents for every dollar promised upon
heir face, ind shall be redeemsbie only in new
Treasury notes at that rate hut after the passage
Cf this sct no call certificates sha be issued until
aser the FIRST day of April, 1894.
Sec. 10. That IL any bank OF deposit shall give |
s depOstors the bonds authorized by the lst sec |
ion of this act in exchange for their deposits, and
specify the same the bonds By some distinctive
mark or token, To be agreed upon with the Secre-
larry Of the Treasury, then the said deposition shall
be entitled to receive the amount OF said bonds In
Treasury notes hea Ing no interest and outstanding
the passage Of this Provided the said bonds
Gre presented before the privilege Of funding said
notes at par shall ceaRe, ms herein prescribed.
Sec. II. That all Treasury notes hesetOforei ssued
pf the denomination Of i've dollars shall continue
TO be receivable In ayment Of public dues, as pro-
sded by law, and fundable at par under the provi-
sIons Of this act, un,il the LIST day of july 1854,
east and until the lst day OF October, le64, west
Of the Mississippi river, but after that time they
shall be subject to o tax of thirty-three and one
third cents on every dollar promised Oh the face |
thereof, said IN attach TO said notes wherever
cir culated, and said notes IN be fundabe and eH-
changcabc for treasury notes, as herein pro-
yIdea, subject 20 the deduction Of said tax.
fec. IL That any State holding Treasury notes, |
received before the time herein fixed for taxing said
notes. snail be allowed until the lst day Of January
oe5 fund the SAM In six per cent. bonds Of the
Confederate States, payable twenty years after |
date, and the Interest payable semi annually. But
a Treasury notes received by any State after the
me xed for taxing the same aforesaid, shall
be held 10 have been received diminished by the |
auount OF said tax. The discrimination between |
ine notes subject 10 the tax andthose not so sub
ie.t ehaI be left 10 the good faith OF each State,
sl.A (Lnn&V In