The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1864-03-02
HILLsBoRoUGH, N. O., MARCH q, 1864

said tax to attach to said notes wheneye,
circulated, and said notes to be fuRdable
and exchangeable for new Treasury notes
as herein provided. subject to the deduction
of said tax.
SEc. l2. That any State holding Treasu-
nv notes received before the times. herein
hxed Tor taking said astes, shall be allowed
~ the lst day of January, 1865, 10 fund
Tue same IN six per cent. bonds Of the Con-
iedrrate Safes. payable twenty years after
date, and the interest payable semi-annu
ally. But all Treasury notes received by
any State after the time fixed for taxinp
The same as aforesaid, shall be held to have
been received diminished by the amount Of
said tax. The discrimination between the
notes subject TO the tax. and those not 50
subject, shall be left TO the good faith oI
each State, and the certificate of the Go.
vernon thereof shall in each case be con,
elusive.
SIC. IS. That Treasury notes heretofore
issued bearing interest at the rate of seven
dollars and thirty cents on the hundred
dollars per annum, shall no longer be re.
ceised IN payment Of public dues, but shall
be deemed and considered bonds of the
Confederate States, payable two years af.
ter the ratification Of treaty Of peace
with the United States, bearing the rate oI
interest specified on their face, payable &
ot January Of each and every year.
SIC. Il. That the Secretary of the Trea.
sury be, and he is hereby authorized in case
the exigrncies of the Government should
require It. to pay the demand of any pub.
llc creditor whose debt may be contracted
alter the passage Of this act, willing 10 re.
ceise the same In certificate of indebted.
ness. to be issued By said Secre tary in such
form as he may deem proper, payable tw,
years after ratification Of a treaty Of peace
with the United States, bearing interest !
the rate OF SIX per cent. per annum, paya-
BILE semi-annually, and transferable only b,
special endorsement, under regulations I.
be prescribed by the Secretary of tn,
Treasury, and SAID certificates shall be ex.
empt trem taxatiun 10 principal and inter.
est.
SEC. ID, The Secretary OF the Treasury
IS authorized 10 increase the number OF
repositories SO as to meet the requirements
of this act. and with that view TO employ
such Of The banks Of the several States 4,
he may deem expedient.
SEc. 10. The Secretary OF the Treasury
shall forthwith advertise this act in such
newspapers published in the several States,
and by such other means as shall secure
im@ediate publicity /; aud the Secretary OF
War and the Secretary Of the Navy shall
each cause IL to be published in general or
der lor the intornation Of the army ans
navy.
sEc. IL. The forty-second section Of the
act tor the assessment and collection ol
taxes, approved May Ist, 1863, is hereby
repealed.
sEc. is. The Secretary Of the Treasury
ishereby authorized and required, upon the
application ol The holder Of any call eer,i6.
cate, which, by the first section Of this ael
u provide Tor the funding aud further issue
q Treasury notes. approved March esd,
1905, was required 10 be thereafter deem.
cd 10 be sond. TO issue to such holder
DAD t.srsfsr urea lie terms provided b.
sa.a act.