Washington telegraph., 1864-05-11
THE CURRENCY BILL.

AN AoT TO FUND, TAX AMI LIMIT THE CURRENCY.
7 l. The Congress IF the Conte6erute
States IF America do enact, That the
holders of all Treasury notes above the
denomination OF five dollars, not bear
ing interest. shall be allowed until the
LIST day of April, 1864, east Of the Mis-
sissipp. river, and until the lst dav Of
July, 1864, west Of the Mississippi riv-
er, to fund the same, and until the pe-
RODS and at the places stated tue hold
ers "t all such Treasury notes shall he
allowed to fund the same Ill registered
bonds, payable twenty years after their
dates, bearing interest 1T the rate of lour
per cent. per ;.nmum, payable On tile lst
day OF january and July OF each year
=. The Secretary of the Treasury is
hereby authorized TO issue tile bonds re-
CURED Tor the funding provided for in
the preceding section and until the
bonds can be prepared, he may issue
certificates To answer the purpose. Such
bonds and certificates shall bc receiva-
BILE without interest i'll payment Of all
government dues payable in the year
1864, except export and import duties
3. That all Treasury notes of the de-
nomination of one hundred dollars, not
bearing interest, which shall not be pre-
sented for funding under the provisions
of the first section OF this act. shall from
and after the lst day Of April, 1864,
east of the Mississippi river, and the
lst day of July, 1864, west Of the Mis-
sisslppi river, cease to be receivable in
the payment Of public dues, and said
notes, If not so presented al that time,
shall, in addition to the tax Of thirty
three and one-third cents imposed III the
4th section of this act, be subjected to
tax OF ten per cent. per month until so
presented, which taxes shall attach TO
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 exchangeable for the new issue OF
treasury notes provided for in this act
4. That on all said Treasury notes not
funded or used in payment of taxes at
the dates and places prescribed III the
LIST section of this act, there shall be le-
WED at said dates and places tax OF
thlrty-three and one-third cents for every
dollar promised on the face of said notes
Said tax shall attach to said notes
wherever circulated, aud shall be col.
lected by deducting the same at the
Treasury, its repositories, and by the
tax collectors. and by all government
officers receiving the same, whenever
presented 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 fundabIe in
bonds AS provided in the first section OF
this act until the LIST day of January,
1865, at the rate Of sixty-six and two
third cents on the dollar.
Aud it shall be the duty of the Secre,
tary of the Treasury at any time be-
tween the lst April east. and tie lst
July, 1864, west of the Mississippi river
and the LIST January, 1865. TO substitute
aud exchange new Treasury notes for
the same, at the rate Of sixty-six and
two-thirds cents on The dollar, provided
that notes of the denomination Of one
hundred dollars shall not be entitled tu
tie privilege of said exchange and pro
vided further, that tile right to fund any
OF said Treasury notes after the lst day
Of January. 1865, is hereby taken away
and provided further. that upon all suci
Treasury notes which may remain out
standing os the lst January, 1865, and
which may not be exchanged for new
Treasury notes as herein provided, tax
of ole hundred per cent. is hereby i'm
posee.
5. That after the first day Of APri
next all 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