The daily clarion. [volume] (Meridian, Miss.) 1863-1866, 1864-08-01
mo. 6s.l


mo. ss.l
An Act 20 reduce the currency and TO authorize new
~ tissue Of notes and bonds.
Ths Congress- of the Confederate States of America
do eDact That the holders Of all treasury notes above
the denomination Of Ave dollars not bearing interest.
hundred and fixtyfour east OF the Mississippi river
and until the rst day Of July, eighteen hundred and
sixtyfou, wtst q the Mssissippi river 70 fand me
the holders Of asuch treasury notes shall be allowed
10 fund the in registered bonds, payable twenty
years after their date bearing interest a. inc rate o.
four per cent per annu, payable on the rst dsy OF
January and July of each year. se,
Sec g. The Secretary ofrhs Treasury Ia hereby
authorized issue the bonds required for the funding
providedfor iu the precoding section and until the
bonds can be prepared he may issue certificates to
answer The purpose Such bonds and certificates shall
berscevabie without interest, in payment Of all Gov
srnasn dues payable N tho year eighteen hundred
See g. That all treasury notes'of the denomination
al one hundred dollars not bearing Interest," which
shall pot DO presented for Funding under tne provs,
after the first day Of April eighteen hundred and
four east Of the Mississippi river, and the first
dayof July, eighteen hundred and Sixty four west OF
tho Mississippi river, 20 be receivable In the
payment Of public dues and said notes. II not so pre-.
sented at that time shall In addition to the tax Of
thtythree and one4bird cents, imposed In the fourth
secon Of this act be subject 70 tar Of ton per cent
per mouth until presented which attach
2 saidg note, whsrstsr sirsasted and sss % as
1u10 luto0 AEuNuIttt pfe4outou
for payment u Tor fusdng and laid noessha not be
sxchagca Bile the Issue OF treasury notes pro-
yided for IN this act. s 4ss
Sec That on all sald treasury notes not funded or
scribaa III the arst section Of this act there shall DO
lsyed al said dates and placeaa tax OF thirtythree
and onethird cents for every dollar promised on the
face Of said notes shall attach 70 said notes
WI circulated and shall be
tho saae al the Treasury its Repositories and BY the
tax collectors and by all Government officers rocev'
ing hesame whenever presented for payment Or tor
in exchange for new notes as hereinafter
provided; and said treasury notes shall be fundabe
10 bonds providcdi tha first section Of this act
until the -st day Of January eighteen hundred and
sixty ave- at tho rate Of sixtysix and twohrd cents
on the dollar And it shall DO tho duty of the Secreta
y q the Ireasury a. any mc inc nfS, and
sxtyfaur west Of the Mississppiriver and the rst o.
January eighties hundred and sixty-hve, to subst,
ttc and exchange new treasury notes for tse same a,
Provided, Fat notes of the denomination of one
hundred dollars shall be entitled to the privilege
of said exchanges Provided further That me right 70
fund any of said treasury notes after the frat day o
January eighteen hundred aad sixty.hvc, Is hereby
taken away And provided further, That upon all
such treasury notes which may remain ons'anding on
Ave, and which may not be exchanged for new treas
ury notes az hcrien provided, tax of one hundred
per cent. Is hereby imposed.
Sec S. That after thoirst day of April next, al
Treasury to issue treasury notes shall be and the
same ia hereby, revoked: Provided The Secretary
of the Treasury may after that time issue new treas
,iry notes In such form he may prescribe, payable
two years after the ratification of a treaty of peace
with the United States said issues to be recsiy
able in payment Of all public dues except export AM
import dnties and 10 be issued in exchange for old
notes. at the rate of two dollars OF the new for three
dollars OF the old issues, whether said old notes be
surrendered for exchange by the holders thereof, OF
be ived into The rsasury under the provisions
this act and the helders Of tho new notes of the
old notes, except those of the denomination of ONT
hundred dollars AFTER insy are reaIcsa 70 sxsyS
uay convert the same into call certificates, bearing
interest at the Of four per cent per annum ant
payable two years after the ratification ofa treaty o
peace With the United States, unless sooner converted
into new notes.
Sect. That TO pay the expenses Of the Govern
ment mot otherwise provided fur the Sscretary Of tht
Treasury Is hereby authorized to issue six per cent
bonds to amount net exceeding five hundred mill
ions of dollars the principal and interest whereof
shall be free from taxation, and for the payment y
the interest tereonhe entire nett receipts OF any OK
port duty hereafter hid on the value Of oil cotton
tobacco and naval stores, which shall be exported
and ,ss p sss,sf ss
.,a.s. NJ That ,b.' sis. re,y
upon imports aud hereby pledged, shall hereafter
be paid In specie, ori sterling exchange, or in the
coupons Of said btn'a -5+. ..s $50. ~. 49,.
by authorized from time to time as the wants Of the
Treasury may require IT, to sell or ,hypothecate for
treasury notes sad bonds, any part thereof upon
te beat terms so asto meet appropriations Ply
Congress, aud at the same time reduce and restrict
Of tho circulation In treasury notes. within
reasonable and safe limits. M
Sec 8 The bonds authorized by the sixth section
Of this may be either registered coupon bonds,
tho parties taking them may elect 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, some multiple OF
one hundred dollars and shall together with the cou-
pons thereto attached be In such form and of such
Of Nto
proscrbe The interest shall DO payable half yearly
on the frat January and July in each earthe prin-
eipal shall DO issshan thirty years from
their date. ssE
See. o. Ali call certificates shall be fundable and
shall be taxed in all respects as Is provided for the
treasury notes, into which they are convertible. If
not converted before the time fixed for taxing the
treasury notes. such certificates SHALL from that time,
bear interest upon only sixty six and twothird cents
for every dollar promised upon their face, and shall
be redeemabe only in new treasury notes at that rate
but after tho passage Of this act no cali certificates
shall he Issued until after the first day Of April,
eighteen hundred and sixty four,
Soc 10, That If any bank of deposit shall give its
deposiors the bonds authorized by the first section of
his act In exchange for their deposits, and specify Tho
the bonds by some distinctive mark or TOKEN
TO be greed upon with the Secretary Of the Treas
ury then the said deposition shall be entitled receive
the amount Of said bonds 10 treasury notes bearing
interest aud outstanding at the passage of this act
Provided, The said bonds are presented before tie
privilege of funding said notes at par shall coase
herein prescribed. ~
SEQ H. That all treasury notes heretofore Issued,
AZ the donamin.tiop Of ave dollars shall continue 10
ia receivable in payment of public Dues al provided
By law and fundable at par under the provisions of
This act until the first of July, eighteen hundred aud
fcur east ami until the first OF October eighteen
s1rsd ma sixty fonr west Of the Nssjssippi river
bat after that time they ahall be subject 70 tax OF
3 three and one third cents on every dollar prom.
sed On Inc face thereof said tax TO attach to said
Sbereysr eirculute and said notes 10 be fnda.
Bile and exchangeabe for new treasury noies as
Sen ii THAT any State holding treasury notes.
,eeeiVed afore herein fixed for taxing said
lotes shHIl be allowed unthe frat day Of January,
.imht.s- hundtss and sixty i've 10 fund the same in
M cont honds or ihe Confederate States paysble
,sspev vsars after date and the interest payable
emi.cnnuaIIy But all treasury notes received by
IN o. 10 afer he fine fx I'd for taxing the SAME as
shall be held to have been received d.