Western sentinel. [volume] (Winston [i.e. Winston-Salem], N.C.) 1856-1886, 1864-03-03

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Frnent of public dues, as provided By law,
and fundable at par under the provisions
OF this act until the LIST ot J nly, 1864 east.
and until the 1st October, 1864, west Of
the Mississippi, but after that time they
ishai be subject to tax of thirty three
cents on every dollar promised on the face
thereof, said tax to attach to said notes
wherever circulated, and said notes to be
fandable and exchangeable for new treas
nry notes, as herein provided, subject to
the deduction of said tax.
II. That any State holding treasury
notes, received before the times herein fix
ed for taxing said notes, shall be allowed
until the LIST day of January, 1865, to fund
the same same in six per cent. bonds of
the Confederate States, payable twenty
years after date, and the interest payable
semi-annually. But all treasury notes re
ceived by any State after the time fixed
for taxing the same, as aforesaid, shall be
held to have been received diminished by
the amount of said tax. The discrimina-
tlon between the notes subject to the tax
and those not so subject shall be left to tine
good faith Of each State, and the certif-
cate of the Governor thereof shall in each
case be conclusive.
13. That treasury notes heretofore is
sued, bearing interest at the rate of seven
dollars and thirty cents on the hund-
red dollars per annum shall no longer be
received in payment of public dues, but
shall be deemed and considered bonds of
the Confederate States, payable two years
after ratification of treaty of peace
with the United States, bearing the rate Of
interest specified on their face, payable on
, the 1st January in each and every year.
II. That the Secretary of the Treasury
be and he is hereby authorized in case the
exigencies or the Government should re-
quire it, to pay the demand of any public
creditor whose debt may be contracted az
! ter the passage of this act, willing to re-
ceive the same, in a certificate of indebt-
edness to be issued by said Secretary in
such form as he may deem proper, pay
able two years after ratification of
treaty of peace with the United States,
bearing interest at the rate of six per cent
per annum, payable semi-annually, and
transferable only by special endorsement
under regulations to be prescribed by the
Secretary of the Treasury, and said certi-
fcates shall be exempt from taxation in
principle and interest.
15 The Secretary of the Treasury is an
thorized to incsease the number of depos-
atories so as to meet the requirements of
this act, and with that view to employ
such of the banks Of the several States as
he may deem expedient. 49,.
16 The Secretary of the Treasury she'll
forthwith advertise this act in such news
papers published in the several States and
by such other means as shall secure i'm
mediate publicity, and the Secretary Of
War and the Secretary of the Navy shall
each cause it to be published in general
orders for the information of the army and
navy. 49,,
| II. The 42d section of the act for the
assessment and collection Of taxes approx
ed May 1st, 1868, is hereby repealed.
i The 42d section ofsthe act reads as fol-
lows: <@.55 - @''' S.@@ @te<
g ''That the Secretary of the Treasury
may prescribe regulations to enable any
tax payer to pay into the Treasury, in 5ad
vance, such sum as he may choose on ac-
count OF taxes to accrtle against him, and
: to obtain therefor a certificate bearing in
terest at the rate of five per cent a year
until his taxes are payable, but such GER
}tifcate shall not be transferable. ."
Is. The Secretary of the Treasury is
hereby authorized and required, upon the
application of,the holder of any call cer-
tifcate--which by the LIST section of the
act ito provide for. the funding and furth-.
er issue Of Treasury notes. approved
March 23d, 1868, was required to- be
! thereafter deemed to be bond"--to issue